• Corpus ID: 152282738

Another Look at ALGORAND

@article{Wang2019AnotherLA,
  title={Another Look at ALGORAND},
  author={Yongge Wang},
  journal={ArXiv},
  year={2019},
  volume={abs/1905.04463}
}
  • Yongge Wang
  • Published 11 May 2019
  • Computer Science, Mathematics
  • ArXiv
ALGORAND is a celebrated public ledger technology designed by Dr. Micali and his collaborators. By the end of year 2018, it has raised US$64 million in funding from venture capital firms. In this paper, we identify several design flaws of the ALGORAND protocol. In particular, we show that the claimed (proved) fork-free property is not true and several assumptions in ALGORAND are not realistic in practice. The ALGORAND wiki page this https URL claims that ``the probability of a fork in the… 

Unpredictability properties in Algorand consensus protocol

This paper provides a strategy enabling to predict the future leaders of Algorand by extending the unpredictability property to a more generic property referred to as "t-forward unpredictability" and showing that for a particular setting ofAlgorand, the t-forward predictability property is not satisfied.

Another Look at Byzantine Fault Tolerance

  • Yongge Wang
  • Computer Science
    IACR Cryptol. ePrint Arch.
  • 2019
It is shown that PBFT and HotStuff BFT protocols cannot achieve consensus in partial synchronous networks since the participants do not know what is the Global Stabilization Time (GST) and broadcast channels before GST are defined to be unreliable.

Adjusting the Block Interval in PoW Consensus by Block Interval Process Improvement

This paper proposes a method for minimizing the block intervals that occur during consensus over a PoW blockchain network, and suggests an optimal block interval for the Ethereum TPS was improved by at least 200%.

References

SHOWING 1-7 OF 7 REFERENCES

Algorand: Scaling Byzantine Agreements for Cryptocurrencies

Experimental results show that Algorand confirms transactions in under a minute, achieves 125x Bitcoin's throughput, and incurs almost no penalty for scaling to more users.

The Sleepy Model of Consensus

This work begins a study of distributed protocols in a “sleepy” model of computation where players can be either online (awake) or offline (asleep), and their online status may change at any point during the protocol.

Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol

“Ouroboros” is presented, the first blockchain protocol based on proof of stake with rigorous security guarantees and it is proved that, given this mechanism, honest behavior is an approximate Nash equilibrium, thus neutralizing attacks such as selfish mining.

Untraceable Electronic Cash

An electronic cash protocol including the steps of using a one-way function f1 to generate an image f1 (x1) from a preimage x1 and receiving from the second party a note including a digital signature.

Blind Signatures for Untraceable Payments

Automation of the way we pay for goods and services is already underway, as can be seen by the variety and growth of electronic banking services available to consumers. The ultimate structure of the

Bitcoin: A Peer-to-Peer Electronic Cash System

This work proposes a solution to the double-spending problem using a peer-to-peer network, where the network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof- of-work.

All users i ∈ SV r,s with s ≥ 4 execute the Binary Byzantine Agreement (BBA) References