Description
TL;DR: The ByzCoin proposal organizes recent proof-of-work miners into a consensus group that collectively signs blocks for rapid finality and higher throughput.
About This Document
Eleftherios Kokoris-Kogias, Philipp Jovanovic, Nicolas Gailly, Ismail Khoffi, Linus Gasser, and Bryan Ford combine hash-power-based membership with tree-structured collective signing and Byzantine agreement. Their design aims to preserve open miner participation while confirming transactions within seconds and reducing exposure to double spending and selfish mining.
Why Bitcoin People May Care
ByzCoin is a research proposal, not the Bitcoin mainnet protocol. It is valuable precisely because it makes an alternative design legible: Nakamoto consensus supplies membership weight, while a structured group supplies explicit finality. The paper's security and performance claims depend on its 2016 implementation, timing model, and assumptions about the recent-miner committee.
What You Receive
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Document Details
- Title: ByzCoin: Strong Consistency for Bitcoin
- Author / organization: Eleftherios Kokoris-Kogias, Philipp Jovanovic, Nicolas Gailly, Ismail Khoffi, Linus Gasser, and Bryan Ford
- Year: 2016
- Language: English
- Document type: Bitcoin protocol research paper
- Pages: 18
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