While several consensus algorithms exist for the Byzantine Generals Problem, specifically as it pertains to distributed payment systems, many suffer from high latency induced by the requirement that all nodes within the network communicate synchronously. This white paper presents a novel consensus algorithm that circumvents this requirement by utilizing collectively-trusted subnetworks within the larger network. It shows that the “trust” required of these subnetworks is in fact minimal and can be further reduced with principled choice of the member nodes. In addition, it shows that minimal connectivity is required to maintain agreement throughout the whole network. The result is a low-latency consensus algorithm which still maintains robustness in the face of Byzantine failures.
- Customer and uses of digital payments
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