New DLT Protocol Scalable, Secure Without Consensus, Researchers Claim
Marie Huillet's original article for cointelegraph.com reduced by 55%
Researchers have developed a new algorithm for distributed ledger protocols, which reporters claim could achieve security without the high power consumption of Bitcoin mining. A new way of tackling Byzantine fault-tolerant systems. "We generalize the Byzantine reliable broadcast abstraction to the probabilistic setting, allowing each of its properties to be violated with a fixed, arbitrarily small probability.
We leverage these relaxed guarantees in a protocol where we replace quorums with stochastic samples. Compared to quorums, samples are significantly smaller in size, leading to a more scalable design." The paper goes on to outline a "Gossip-based algorithm" - a probabilistic broadcast to ensure the validity and totality of all messages broadcast in the system, in which the links are reciprocated and undirected. Reports frame new algorithm in terms of energy efficiency.
As media reports on the researchers' work indicate, the pursuit of alternative, scalable and secure algorithms for distributed ledger systems are often interpreted within the framework of debates over the high power consumption involved in computation-intensive Bitcoin mining due to its underlying Proof-of-Work algorithm. Mining hardware behemoths such as Bitmain are meanwhile seeking to develop new solutions with greater processing capabilities and lower energy demands.
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