Corpus ID: 591770

Blockchain-Free Cryptocurrencies : A Framework for Truly Decentralised Fast Transactions

  title={Blockchain-Free Cryptocurrencies : A Framework for Truly Decentralised Fast Transactions},
  author={Xavier Boyen and Christopher Carr and Thomas Haines},
The “blockchain” distributed ledger pioneered by Bitcoin is effective at preventing double-spending, but inherently attracts (1) “user cartels” and (2) incompressible delays, as a result of linear verification and a winner-takes-all incentive lottery. We propose to forgo the “blocks” and “chain” entirely, and build a truly distributed ledger system based on a lean graph of cross-verifying transactions, which now become the main and only objects in the system. A fully distributed consensus… 

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