Post updated in March 2021 Different modeling assumptions under which we construct BFT protocols often make it hard to compare two protocols and understand their relative contributions. In this post we discuss synchronous protocols in the authenticated model (assuming a PKI). A protocol runs in the synchronous model if it...| decentralizedthoughts.github.io
Achieving high throughput is essential for blockchain ecosystems to become competitive alternatives to their centralized counterparts across a wide range of domains. For example, high-frequency trading on decentralized platforms cannot be competitive unless transaction processing times are reduced to well below one second. The predominant strategy to address this challenge...| decentralizedthoughts.github.io
Proof of Work (PoW) Blockchains implement a form of State Machine Replication (SMR). Unlike classical SMR protocols, they are open, i.e., anyone can join the system, and the system incentivizes participants, called miners, to follow the protocol. Therefore, unlike classical SMR protocols, reasoning about blockchain security relies not only on...| decentralizedthoughts.github.io
Four years ago (time flies!), I made a post on a simple security proof for Nakamoto consensus. While the proof intuition, as outlined in that post, is still reasonably simple, the actual proof has become quite delicate and crafty over the years. What happened was that some colleagues – Chen...| decentralizedthoughts.github.io