Snowflake to Avalanche: A Novel Metastable Consensus Protocol Family forCryptocurrencies
The crypto world is a buzz with the latest variation on 'blockchain'. The general idea is a cascade agreement among 'notaries' that one transaction gets the ledger entry. From the trader's point of view, these consensus algorithms make it unproductive to spoof the ledgers with fake spends. Traders, on something like Telegram, will collude to eliminate bad behavior amongst the group, do so by always choosing fair notaries to register thus insuring faster trade intervals.
I have not done my homework on DAG, but that idea seems to be maintaining a nest that constantly converges to blockchain. The bad behavior shows up as cycles that get pruned from the nest.
From a Swap Net perspective, double spenders tend toward lower credit ratings, the clearance times over history give it away. A trader who shows a history of fast, fair clearance will display that in his crypto badge to get cash in advance.
Sandbox nail this, consensus algorithm experts do great job. On my map, these are ledgers and the technology can be used for deliveries and fixed price sales from inventory, and asset sales. It is a public consistency check used in a variety of contracts.
Consider deliveries. One driver is like a conserved coin, it cannot be in two places at the same time. So once the delivery contract is agreed, the public notary protects against fake delivery promises. Bad behavior, drivers causing delays to sneak in a second delivery?Gone. We can see these techniques when independent suppliers drop the same good. A public inventory works. Ledgers, part of sandbox.
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