Description
TL;DR: An alternative cryptocurrency protocol that uses proof of work to elect leaders, then adapts PBFT-style agreement to a permissionless setting.
About This Document
Ittai Abraham, Dahlia Malkhi, Kartik Nayak, Ling Ren, and Alexander Spiegelman present Solidus as a response to Bitcoin's confirmation delay, limited throughput, transaction withholding, and selfish-mining incentives. Proof of work selects leaders, while a Byzantine-consensus protocol orders transactions. The design includes incentive analysis and security conditions involving Byzantine and rational coalitions.
Why Bitcoin People May Care
Solidus is not Bitcoin and its security depends on different timing, committee, and computation-share assumptions. The paper is useful because it makes a recurring tradeoff explicit: retain permissionless entry while replacing Nakamoto's slow probabilistic confirmation with structured Byzantine agreement. It is a 2016 research proposal, not evidence of a current production currency or guaranteed improvement under real-world attack.
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Document Details
- Title: Solidus: Permissionless Byzantine Consensus for Cryptocurrency
- Author / organization: Ittai Abraham, Dahlia Malkhi, Kartik Nayak, Ling Ren, and Alexander Spiegelman
- Year: 2016
- Language: English
- Document type: Cryptocurrency protocol research paper
- Pages: 15
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