Corpus ID: 9948752

Solidus: An Incentive-compatible Cryptocurrency Based on Permissionless Byzantine Consensus

  title={Solidus: An Incentive-compatible Cryptocurrency Based on Permissionless Byzantine Consensus},
  author={Ittai Abraham and D. Malkhi and Kartik Nayak and Ling Ren and A. Spiegelman},
The decentralized cryptocurrency Bitcoin has experienced great success but also encountered many challenges. [...] Key Method A core technique in Solidus is to use proof of work for leader election to adapt the Practical Byzantine Fault Tolerance (PBFT) protocol to a permissionless setting. We also design Solidus to be incentive compatible and to mitigate selfish mining. Solidus improves on Bitcoin in confirmation time and provides safety and liveness assuming Byzantine players and the largest coalition of…Expand
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