Permissionless and Asynchronous Asset Transfer

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

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Petr Kuznetsov
  • LTCI, Télécom Paris, Institut Polytechnique de Paris, France
Yvonne-Anne Pignolet
  • DFINITY, Zürich, Switzerland
Pavel Ponomarev
  • ITMO University, Saint Petersburg, Russia
Andrei Tonkikh
  • National Research University Higher School of Economics, Saint Petersburg, Russia

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Petr Kuznetsov, Yvonne-Anne Pignolet, Pavel Ponomarev, and Andrei Tonkikh. Permissionless and Asynchronous Asset Transfer. In 35th International Symposium on Distributed Computing (DISC 2021). Leibniz International Proceedings in Informatics (LIPIcs), Volume 209, pp. 28:1-28:19, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2021)


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 based on the assets owned by them.

Subject Classification

ACM Subject Classification
  • Theory of computation → Distributed algorithms
  • Asset transfer
  • permissionless
  • asynchronous
  • dynamic adversary


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