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DOI: 10.4230/LIPIcs.DISC.2021.28

Permissionless and Asynchronous Asset Transfer

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

Published in: LIPIcs, Volume 209, 35th International Symposium on Distributed Computing (DISC 2021)

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 based on the assets owned by them.

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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)

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@InProceedings{kuznetsov_et_al:LIPIcs.DISC.2021.28,
  author =	{Kuznetsov, Petr and Pignolet, Yvonne-Anne and Ponomarev, Pavel and Tonkikh, Andrei},
  title =	{{Permissionless and Asynchronous Asset Transfer}},
  booktitle =	{35th International Symposium on Distributed Computing (DISC 2021)},
  pages =	{28:1--28:19},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-210-5},
  ISSN =	{1868-8969},
  year =	{2021},
  volume =	{209},
  editor =	{Gilbert, Seth},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.DISC.2021.28},
  URN =		{urn:nbn:de:0030-drops-148307},
  doi =		{10.4230/LIPIcs.DISC.2021.28},
  annote =	{Keywords: Asset transfer, permissionless, asynchronous, dynamic adversary}
}

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Permissionless and Asynchronous Asset Transfer

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