Permissionless and asynchronous asset transfer

Petr Kuznetsov; Yvonne Anne Pignolet; Pavel Ponomarev; Andrei Tonkikh

doi:10.1007/s00446-023-00449-x

Permissionless and asynchronous asset transfer

Petr Kuznetsov
, Yvonne Anne Pignolet
, Pavel Ponomarev
, Andrei Tonkikh

DFINITY
College of Computing
Institut Polytechnique de Paris

Research output: Contribution to journal › Article › peer-review

Abstract

Most modern asset transfer systems use consensus to maintain a totally ordered chain of transactions. It was recently shown that consensus is not always necessary for implementing asset transfer. More efficient, asynchronous solutions can be built using reliable broadcast instead of consensus. This approach has been originally used in the closed (permissioned) setting. In this paper, we extend it to the open (permissionless) environment. We present Pastro, a permissionless and asynchronous asset-transfer implementation, in which quorum systems, traditionally used in reliable broadcast, are replaced with a weighted Proof-of-Stake mechanism. Pastro tolerates a dynamic adversary that is able to adaptively corrupt participants.

Original language	English
Pages (from-to)	349-371
Number of pages	23
Journal	Distributed Computing
Volume	36
Issue number	3
DOIs	https://doi.org/10.1007/s00446-023-00449-x
Publication status	Published - 1 Sept 2023

Keywords

Asset transfer
Asynchronous
Dynamic adversary
Permissionless

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10.1007/s00446-023-00449-x

Cite this

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title = "Permissionless and asynchronous asset transfer",

abstract = "Most modern asset transfer systems use consensus to maintain a totally ordered chain of transactions. It was recently shown that consensus is not always necessary for implementing asset transfer. More efficient, asynchronous solutions can be built using reliable broadcast instead of consensus. This approach has been originally used in the closed (permissioned) setting. In this paper, we extend it to the open (permissionless) environment. We present Pastro, a permissionless and asynchronous asset-transfer implementation, in which quorum systems, traditionally used in reliable broadcast, are replaced with a weighted Proof-of-Stake mechanism. Pastro tolerates a dynamic adversary that is able to adaptively corrupt participants.",

keywords = "Asset transfer, Asynchronous, Dynamic adversary, Permissionless",

author = "Petr Kuznetsov and Pignolet, \{Yvonne Anne\} and Pavel Ponomarev and Andrei Tonkikh",

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AU - Kuznetsov, Petr

AU - Pignolet, Yvonne Anne

AU - Ponomarev, Pavel

AU - Tonkikh, Andrei

PY - 2023/9/1

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AB - Most modern asset transfer systems use consensus to maintain a totally ordered chain of transactions. It was recently shown that consensus is not always necessary for implementing asset transfer. More efficient, asynchronous solutions can be built using reliable broadcast instead of consensus. This approach has been originally used in the closed (permissioned) setting. In this paper, we extend it to the open (permissionless) environment. We present Pastro, a permissionless and asynchronous asset-transfer implementation, in which quorum systems, traditionally used in reliable broadcast, are replaced with a weighted Proof-of-Stake mechanism. Pastro tolerates a dynamic adversary that is able to adaptively corrupt participants.

KW - Asset transfer

KW - Asynchronous

KW - Dynamic adversary

KW - Permissionless

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VL - 36

SP - 349

EP - 371

JO - Distributed Computing

JF - Distributed Computing

IS - 3

ER -

Permissionless and asynchronous asset transfer

Abstract

Keywords

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