Grassroots Flash: A Payment System for Grassroots Cryptocurrencies
Abstract
The goal of grassroots cryptocurrencies is to provide a foundation with which local digital economies can emerge independently of each other and of global digital platforms and global cryptocurrencies; can form and grow without initial capital or external credit; can trade with each other; and can gradually merge into a global digital economy. Grassroots cryptocurrencies turn mutual trust into liquidity and thus could be a powerful means for 'banking the unbanked'. Grassroots cryptocurrencies have not been provided yet with a payment system, which is the goal of this paper. Here, we present Grassroots Flash, a payment system for grassroots cryptocurrencies that employs the blocklace -- a DAG-like counterpart of the blockchain data structure. We analyze its security (safety, liveness, and privacy) and efficiency, prove that it is indeed grassroots.
Keywords
Cite
@article{arxiv.2309.13191,
title = {Grassroots Flash: A Payment System for Grassroots Cryptocurrencies},
author = {Andrew Lewis-Pye and Oded Naor and Ehud Shapiro},
journal= {arXiv preprint arXiv:2309.13191},
year = {2023}
}