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october 2nd, 2022

chloechia.substack.com

october 2nd, 2022

Chloe
Oct 3, 2022
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october 2nd, 2022

chloechia.substack.com

whitepaper circle #1: dag bft

  • learning method: going through the slides, making sure i understand everything, and rewording into my own words so i can read over it in the future and explain to myself

  • byzantine fault tolerance:

    • fault resilience of decentralized stuff to bad actors and machine failures

      • how to have n participants w/ f bad actors agree on infinitely growing actions

      • honest is tracked as n >= 3f+1

  • proof of work consensus

    • what is a nonce number that blockchain miners are solving for. When the solution is found, the blockchain miner that solves it is given the block reward.

    • miners prove they executed transactions by guessing a nonce

    • cons of pow

      • high energy consuption

      • high barrier of entry

        • capital hardware costs for profitable mining

      • pros of pow

        • provable security

        • adjustable network difficulty

        • neutral compared to pos

      • proof of stake

        • validators randomly chosen to create blocks, confirm which ones are correct, validating the transactions

        • stake a large amount of tokens to prevent bad activity

        • cons: relies n inherent value of token instead of computational power)

        • pros: less computational power, lower barriers of entry

      • definitions ~ finality

        • finality is the affirmation that all well-formed blocks will not be revoked once committed to the blockchain.

        • (eg. if a malicious actor is able to accumulate 51% of mining power, they can conduct a double spend attack).

      • block finality

        • achieved at checkpoints needing 2.3 of validators

        • examples of bad activity

          • double signing blocks (bad for network security because its when a validating entity (private key) submits two signed messages for the same block.

            • probabilistic finality:

              • over time

              • eth

            • absolute finality

              • finalized once included in a block and added to a chain

              • tendermint needs 2/3 of validators to prevote

              • economic finality: block reordering or transactions not being final = economic penalty !!

DAG BFT consensus:

  • consensus logic is SEPARATE from network comms

  • no blocks … bundles of transactions

  • in round r, each validator sends all other validators a message w/ vertex

  • validator replies w signature if it ha

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october 2nd, 2022

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