English

The Decrits Consensus Algorithm: Decentralized Agreement without Proof of Work

Cryptography and Security 2014-11-06 v1
Authors: Ryan Pfeiffer
View on arXiv ↗ PDF ↗

Abstract

Decrits is a cryptocurrency in development that makes use of a novel consensus algorithm that does not require proof-of-work. This paper describes how the Decrits Consensus Algorithm (DCA) is as trustless as a proof-of-work algorithm while offering superior transaction security at virtually no cost.

Keywords

digital signature

Cite

@article{arxiv.1411.1101,
  title  = {The Decrits Consensus Algorithm: Decentralized Agreement without Proof of Work},
  author = {Ryan Pfeiffer},
  journal= {arXiv preprint arXiv:1411.1101},
  year   = {2014}
}

Comments

15 pages

Related papers

View all related →
Computational Engineering, Finance, and Science · Computer Science
A Bitcoin system with no mining and no history transactions: Build a compact Bitcoin system
Xiaochao Qian
2016-09-12
Cryptography and Security · Computer Science
Cryptocurrencies without Proof of Work
Iddo Bentov, Ariel Gabizon, Alex Mizrahi
2017-01-12
Cryptography and Security · Computer Science
Assessing Security and Performances of Consensus algorithms for Permissioned Blockchains
Stefano De Angelis
2018-05-10
Cryptography and Security · Computer Science
ABC: Proof-of-Stake without Consensus
Jakub Sliwinski, Roger Wattenhofer
2020-07-21
Cryptography and Security · Computer Science
StrongChain: Transparent and Collaborative Proof-of-Work Consensus
Pawel Szalachowski, Daniel Reijsbergen, Ivan Homoliak, Siwei Sun
2019-05-24
Networking and Internet Architecture · Computer Science
Consensusless Blockchain: A Promising High-Performance Blockchain without Consensus
Qing Wang, Jian Zheng, Huawei Huang, Jianru Lin
2022-09-29
Distributed, Parallel, and Cluster Computing · Computer Science
A Consensus Algorithm Based on Risk Assessment Model for Permissioned Blockchain
Xiaohui Zhang, Mingying Xue, Xianghua Miao
2022-07-18
Cryptography and Security · Computer Science
Stabilizing Congestion in Decentralized Record-Keepers
Assimakis Kattis, Fabian Trottner
2020-05-14
Cryptography and Security · Computer Science
RDV: An Alternative To Proof-of-Work And A Real Decentralized Consensus For Blockchain
Siamak Solat
2019-05-06
Cryptography and Security · Computer Science
A New Hybrid Consensus Protocol: Deterministic Proof Of Work
Zhuan Cheng, Gang Wu, Hao Wu, Muxing Zhao +2
2018-11-15
Distributed, Parallel, and Cluster Computing · Computer Science
Feasibility of Proof of Authority as a Consensus Protocol Model
Shashank Joshi
2021-09-07
Cryptography and Security · Computer Science
Proof-of-Social-Capital: A Consensus Protocol Replacing Stake for Social Capital
Juraj Mariani, Ivan Homoliak
2025-11-06
Distributed, Parallel, and Cluster Computing · Computer Science
Payment Does Not Imply Consensus (For Distributed Payment Systems)
Thomas Orton
2022-06-22
Data Structures and Algorithms · Computer Science
A Cooperative Proof of Work Scheme for Distributed Consensus Protocols
Wouter Kuijper
2017-12-01
Computers and Society · Computer Science
Cryptocurrency Egalitarianism: A Quantitative Approach
Dimitris Karakostas, Aggelos Kiayias, Christos Nasikas, Dionysis Zindros
2019-07-05
Distributed, Parallel, and Cluster Computing · Computer Science
Decentralization in Open Quorum Systems
Andrea Bracciali, Davide Grossi, Ronald de Haan
2019-11-20
Cryptography and Security · Computer Science
Interactive Proof-of-stake
Alexander Chepurnoy
2016-01-12
Cryptography and Security · Computer Science
Delegated Proof of Reputation: a novel Blockchain consensus
Thuat Do, Thao Nguyen, Hung Pham
2019-12-10
Distributed, Parallel, and Cluster Computing · Computer Science
Consensus Algorithms of Distributed Ledger Technology -- A Comprehensive Analysis
Ahmad J. Alkhodair, Saraju P. Mohanty, Elias Kougianos
2023-09-26
Cryptography and Security · Computer Science
Decentralized Prediction Market without Arbiters
Iddo Bentov, Alex Mizrahi, Meni Rosenfeld
2017-03-09
Cryptography and Security · Computer Science
Adamastor: a New Low Latency and Scalable Decentralized Anonymous Payment System
Rui Morais, Paul Crocker, Simao Melo de Sousa
2023-12-15
Distributed, Parallel, and Cluster Computing · Computer Science
Implicit Consensus: Blockchain with Unbounded Throughput
Zhijie Ren, Kelong Cong, Johan Pouwelse, Zekeriya Erkin
2017-07-17
Databases · Computer Science
Torrent Driven (TD) Coin: A Crypto Coin with Built In Distributed Data Storage System
Anirudha Paul
2023-05-15
Distributed, Parallel, and Cluster Computing · Computer Science
CryptoConcurrency: (Almost) Consensusless Asset Transfer with Shared Accounts
Andrei Tonkikh, Pavel Ponomarev, Petr Kuznetsov, Yvonne-Anne Pignolet
2023-04-28
General Economics · Economics
Does DeFi remove the need for trust? Evidence from a natural experiment in stablecoin lending
Kanis Saengchote, Talis Putniņš, Krislert Samphantharak
2022-07-14
R2 v1 2026-06-22T06:48:21.231Z