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Probabilistic Optimization of Optimistic Finality for the Waterfall Consensus Protocol

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Blockchain and Applications, 5th International Congress (BLOCKCHAIN 2023)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 778))

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Abstract

Blockchain is a distributed ledger technology that provides an immutable record and store of transactions. Today, one of the key challenges facing blockchain technology is the time required to finalize transactions. Mass adoption of payment systems and the development of enterprise-class decentralized systems have created a demand for a significant acceleration of finalization time in blockchains’ networks, to facilitate fast and efficient transactions while maintaining security and performance. This article discusses the Waterfall platform, which is based on a Directed Acyclic Graph (DAG) architecture. Waterfall implements a two-level consensus protocol combining Ethereum’s approach with a new algorithm that provides single-slot finality. However, the optimistic consensus involves a security trade-off that requires the maintenance of network scalability and performance. The proposed protocol modifications aim to minimize the time of transaction finality by obtaining an optimal level of blockchain Coordinators’ support for slot finalization, building a simulation model for testing the modifications, and mitigating the problem of non-relayed transactions. The outcomes of this study will be incorporated into the Waterfall platform software, to enhance its dependability, efficiency, and security.

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Author information

Authors and Affiliations

  1. Odesa Polytechnic National University, Shevchenko Av. 1, Odesa, 65044, Ukraine

    Sergii Grybniak & Oleksandr Nashyvan

  2. Odesa I. I. Mechnykov National University, Dvoryans’ka St 2, Odesa, 65082, Ukraine

    Yevhen Leonchyk, Igor Mazurok, Alisa Vorokhta & Ruslan Shanin

Authors
  1. Sergii Grybniak
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  2. Yevhen Leonchyk
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  3. Igor Mazurok
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  4. Alisa Vorokhta
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  5. Oleksandr Nashyvan
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  6. Ruslan Shanin
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Corresponding author

Correspondence to Alisa Vorokhta .

Editor information

Editors and Affiliations

  1. Universidade do Minho, Braga, Portugal

    José Manuel Machado

  2. BISITE research group, University of Salamanca, Salamanca, Spain

    Javier Prieto

  3. Guarda Polytechnic Institute, Guarda, Portugal

    Paulo Vieira

  4. Universidade do Minho, Braga, Portugal

    Hugo Peixoto

  5. Universidade do Minho, Braga, Portugal

    António Abelha

  6. Científicas, ITEFI, Instituto de Física Aplicada, Consejo Superior de Investigaciones, Madrid, Spain

    David Arroyo

  7. Pappelallee, IOTA Foundation, Berlin, Germany

    Luigi Vigneri

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© 2023 The Author(s), under exclusive license to Springer Nature Switzerland AG

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Grybniak, S., Leonchyk, Y., Mazurok, I., Vorokhta, A., Nashyvan, O., Shanin, R. (2023). Probabilistic Optimization of Optimistic Finality for the Waterfall Consensus Protocol. In: Machado, J.M., et al. Blockchain and Applications, 5th International Congress. BLOCKCHAIN 2023. Lecture Notes in Networks and Systems, vol 778. Springer, Cham. https://doi.org/10.1007/978-3-031-45155-3_31

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