On Trees, Chains and Fast Transactions in the Blockchain

@inproceedings{Kiayias2016OnTC,
  title={On Trees, Chains and Fast Transactions in the Blockchain},
  author={Aggelos Kiayias and Giorgos Panagiotakos},
  booktitle={IACR Cryptol. ePrint Arch.},
  year={2016}
}
A fundamental open problem in the area of blockchain protocols is whether the Bitcoin protocol is the only solution for building a secure transaction ledger. A recently proposed and widely considered alternative is the GHOST protocol which, notably, was proposed to be at the core of Ethereum as well as other recent proposals for improved Bitcoin-like systems. The GHOST variant is touted as offering superior performance compared to Bitcoin (potentially offering block production speed up by a… 

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