- We take for granted currency that's stable
- want equitable access to financial systems
- open membership
- issuer-enforced finality
- cross-issuer atomicity
- ACH
- requires national regulations
- can't trade across systems paypal -> venmo?
- Replicated State Machine
- keep ledger safe
- public key authorize operations
- accounts can issue assets
- Transaction guarantee atomicity
- only works if everyone agrees on ledge double-spend attack
- think of the internet
- transitive connections
- China -> Stanford
- China -/-> Google
- Google -> Stanford
- Stellar Consensus Protocol SCP
- Byztentime Hypothesis
- is a quorum slice but not quorum
- citi bank sends an attack
- ACLU doesn't agree because it has no quorum from other non-profits
- liveness?
- sufficiency problem
- must be of an intact set (non-evil)
- cascade theorem
- federated voting
- balloting
- nomination
- quorum intersecting
- cascade until it includes all the nodes
- intertwined nodes cannot confirm contradictory statement
- balloting
- federated voting can get stuck
- invariant: all stuck and decided ballots must chose same value
prepare(n, x)
commit(n, x)
- synchronize with timer
- 1,000 operations/ledger
- 133 nodes, 74 validators, 17 "tier-one" by 5 organizations
- hash signing