The Longest-Chain Protocol Under Random Delays
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Publication:6199169
DOI10.1287/STSY.2022.0031arXiv2102.00973MaRDI QIDQ6199169FDOQ6199169
Authors: Suryanarayana Sankagiri, Bruce Hajek 
Publication date: 23 February 2024
Published in: Stochastic Systems (Search for Journal in Brave)
Abstract: In the field of distributed consensus and blockchains, the synchronous communication model assumes that all messages between honest parties are delayed at most by a known constant . Recent literature establishes that the longest-chain blockchain protocol is secure under the synchronous model. However, for a fixed mining rate, the security guarantees degrade with . We analyze the performance of the longest-chain protocol under the assumption that the communication delays are random, independent, and identically distributed. This communication model allows for distributions with unbounded support and is a strict generalization of the synchronous model. We provide safety and liveness guarantees with simple, explicit bounds on the failure probabilities. These bounds hold for infinite-horizon executions and decay exponentially with the security parameter. In particular, we show that the longest-chain protocol has good security guarantees when delays are sporadically large and possibly unbounded, which is reflective of real-world network conditions.
Full work available at URL: https://arxiv.org/abs/2102.00973
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