Description
TL;DR: A federation design that trades open proof-of-work participation for a defined signer group, faster finality, confidential transactions, and cross-chain movement.
About This Document
Johnny Dilley, Andrew Poelstra, Jonathan Wilkins, Marta Piekarska, Ben Gorlick, and Mark Friedenbach describe strong federations as a middle ground between a single trusted custodian and a fully permissionless chain. The paper covers block signing, asset movement, privacy, security assumptions, and Liquid as a Bitcoin-linked implementation for exchange settlement.
Why Bitcoin People May Care
This is not the Lightning Network and not Bitcoin's base-layer consensus. Its security rests on a threshold of identified functionaries, so the trust model must be evaluated on its own terms. The paper is especially useful for understanding why faster settlement and interoperability can come with governance and signer-availability assumptions absent from Nakamoto consensus.
What You Receive
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Document Details
- Title: Strong Federations: An Interoperable Blockchain Solution
- Author / organization: Johnny Dilley, Andrew Poelstra, Jonathan Wilkins, Marta Piekarska, Ben Gorlick, and Mark Friedenbach
- Year: 2017 version
- Language: English
- Document type: Blockchain federation technical paper
- Pages: 14
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