Federated Byzantine Agreement Ripple

Blockchains should be fast and secure. When nodes are “stuck” on the way to the deal, the blockchain slows down. If the nodes on a blockchain have different values from other nodes, the system is “divergent”. A different system is more dangerous than a blocked system: blocked systems are slow, but divergent systems indicate conflicting data. A quorum slice can convince a single node of consent, while a quorum convinces the entire compliance system. If a node considers a particular quorum slice to be entirely trustworthy, it can agree to go with what that quorum slice agrees on. Next, each valid node calculates a new ledger (=block) with all transactions (with 80% UNL approval) and calculates the hash, signs, and Ledger broadcasts A quorum is the number of nodes needed to reach an agreement within a system. FBAs use “Quorum Slices” instead. A quorum slice is a fraction of a quorum that can convince another particular node to accept. If the consensus protocol did useful work, the incentive to “mine” in this chain would involve not only the reward of blocks, but also ulterior motives, so that the aggressors could try to produce null blocks, and their efforts would still be justified by the value of the work done. edit: I would say that making fraudulent blocks is a “strictly dominated strategy” in terms of the game, because their outcome is always worse than following the rules of the protocol and producing a valid block. From this point of view, I believe it is the same as “rejecting all hashes”.

ยท Nodes can be programmed to trust a quorum slices or an external source, depending on their performance over time There is no centralized authority, which means the protocol is decentralized. It is simply not decentralized in the same way as bitcoin. Some may say that this is a good thing. Stellar consensus is decentralized in the traditional sense. The Federation is a form of decentralization. The DPoS consensus used by Bitshares/STEEM &EOS seems to be the most advanced among the models and they also have the highest TPS Each transaction involves a transaction cost (min 0.00001 XRP) that is destroyed. No rewards. Each node receives transactions from external applications PoW`s work product is largely wasted because all hashes produced for a given block height, except for the next valid blockhash, have no value and will be discarded, with the Miner winner receiving the full block reward for their work…

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