Introduction

This work presents Solida, an cryptocurrency based on PoW-augmented reconfigurable Byzantine consensus.

Abstract

The decentralized cryptocurrency Bitcoin has experienced great success but also encountered many challenges. One of the challenges has been the long confirmation time. Another challenge is the lack of incentives at certain steps of the protocol, raising concerns for transaction withholding, selfish mining, etc. To address these challenges, we propose Solida, a decentralized cryptocurrency based on reconfigurable Byzantine consensus augmented by proof-of-work. Solida improves on Bitcoin in confirmation time, and provides safety and liveness assuming the adversary control less than (roughly) one-third of the total mining power.

Date

December, 2017

Authors

Related Projects

Type

Inproceedings

Booktitle

OPODIS