Crypto Library

Stellar payment protocol

Stellar is a open source consensus protocol, forked out of Ripple.

White paper by David Mazières from Stellar Development Foundation “introduces a new model for consensus called federated Byzantine agreement (FBA). (…) and Stellar Consensus Protocol (SCP), a construction for FBA. Like all Byzantine agreement protocols, SCP makes no assumptions about the rational behavior of attackers. Unlike prior Byzantine agreement models, which presuppose a unanimously accepted membership list, SCP enjoys open membership that promotes organic network growth. Compared to decentralized proof of-work and proof-of-stake schemes, SCP has modest computing and financial requirements, lowering the barrier to entry and potentially opening up financial systems to new participants”

 

Smart Contracts – Nick Szabo

Smart Contracts: Building Blocks for Digital Markets

Copyright (c) 1996 by Nick Szabo

“…New institutions, and new ways to formalize the relationships that make up these institutions, are now made possible by the digital revolution. I call these new contracts “smart”, because they are far more functional than their inanimate paper-based ancestors. No use of artificial intelligence is implied. A smart contract is a set of promises, specified in digital form, including protocols within which the parties perform on these promises.Continue reading

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