2022/07/14 by Marco Benedetti, Francesco De Sclavis, Benedetti, Marco +11
Computer Science · #Blockchain Technology Applications and Security #Cryptography and Data Security #Distributed #Distributed systems and fault tolerance #FOS: Computer and information sciences #Parallel #and Cluster Computing (cs.DC)
paper · pdf · doi:10.48550/arxiv.2207.06870
openalex publication_date 2022/07/14 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Distributed Ledger Technologies (DLTs), when managed by a few trusted validators, require most but not all of the machinery available in public DLTs. In this work, we explore one possible way to profit from this state of affairs. We devise a combination of a modified Practical Byzantine Fault Tolerant (PBFT) protocol and a revised Flexible Round-Optimized Schnorr Threshold Signatures (FROST) scheme, and then we inject the resulting proof-of-authority consensus algorithm into Bitcoin (chosen for the reliability, openness, and liveliness it brings in), replacing its PoW machinery. The combined protocol may operate as a modern, safe foundation for digital payment systems and Central Bank Digital Currencies (CBDC).