SPECTRE Creators Propose ‘PHANTOM’ Blockchain Protocol

0
71


The researchers behind the SPECTRE and GHOST distributed ledger projects have proposed a new blockchain scalability proposal.

Called PHANTOM, the protocol claims to provide transaction confirmation that is “secure under any throughput that the network can support” – smart contracts included.

Yonatan Sompolinsky and Dr. Aviv Zohar outlined the new protocol in a paper published this week, building on SPECTRE, which proposes to replace the normal block structure with more scalable “directed acyclic graphs of blocks”( blockDAGs). The team describes the tech as “a generalization of Satoshi’s chain which better suits a setup of fast or large block[s].”

Unlike off-chain solutions such as the Lightning Network, where transactions are conducted on a separate layer, Phantom proposes an on-chain means of achieving scalability.

The authors explain that PHANTOM’s primary focus is that it enables the linear ordering of blocks, which is not possible in the SPECTRE protocol. To do so, it uses a “greedy algorithm” on the blockDAG to identify blocks mined by “honest” nodes, but not those from “non-cooperating” nodes that deviate from the mining protocol.

The paper states:

“Using this distinction, PHANTOM provides a full order on the blockDAG in a way that is eventually agreed upon by all honest nodes.”

Solving the problem of linear ordering, the authors say, enables PHANTOM to scale any computation, including smart contracts.

However, Sompolinsky and Zohar note that, by adopting linear ordering, the protocol sacrifices some of the speed of confirmation previously achieved by SPECTRE. The researchers indicated their plans to resolve this problem in future work.

Bicycle chain image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at news@coindesk.com.





Article Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here