Show simple item record

dc.contributor.advisorNickolai B. Zeldovich.en_US
dc.contributor.authorLeung, Derek (Derek Ting-Haye)en_US
dc.contributor.otherMassachusetts Institute of Technology. Department of Electrical Engineering and Computer Science.en_US
dc.date.accessioned2018-09-17T14:51:03Z
dc.date.available2018-09-17T14:51:03Z
dc.date.copyright2018en_US
dc.date.issued2018en_US
dc.identifier.urihttp://hdl.handle.net/1721.1/117821
dc.descriptionThesis: S.M., Massachusetts Institute of Technology, Department of Electrical Engineering and Computer Science, 2018.en_US
dc.descriptionThis electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.en_US
dc.descriptionCataloged from student-submitted PDF version of thesis.en_US
dc.descriptionIncludes bibliographical references (pages 63-65).en_US
dc.description.abstractDecentralized cryptocurrencies rely on participants to keep track of the state of the system in order to verify new transactions. As the number of users and transactions grows, this requirement places a significant burden on the users, as they need to download, verify, and store a large amount of data in order to participate. Vault is a new cryptocurrency designed to minimize these storage and bootstrapping costs for participants. Vault builds on Algorand's proof-of-stake consensus protocol and uses several techniques to achieve its goals. First, Vault decouples the storage of recent transactions from the storage of account balances, which enables Vault to delete old account state. Second, Vault allows sharding state across participants in a way that preserves strong security guarantees. Finally, Vault introduces the notion of stamping certificates that allow a new client to catch up securely and efficiently in a proof-of-stake system without having to verify every single block. Experiments with a prototype implementation of Vault's data structures show that Vault reduces the bandwidth cost of joining the network as a full client by 99.7% compared to Bitcoin and 90.5% compared to Ethereum when downloading a ledger containing 500 million transactions.en_US
dc.description.statementofresponsibilityby Derek Leung.en_US
dc.format.extent65 pagesen_US
dc.language.isoengen_US
dc.publisherMassachusetts Institute of Technologyen_US
dc.rightsMIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.en_US
dc.rights.urihttp://dspace.mit.edu/handle/1721.1/7582en_US
dc.subjectElectrical Engineering and Computer Science.en_US
dc.titleVault : fast bootstrapping for cryptocurrenciesen_US
dc.title.alternativeFast bootstrapping for cryptocurrenciesen_US
dc.typeThesisen_US
dc.description.degreeS.M.en_US
dc.contributor.departmentMassachusetts Institute of Technology. Department of Electrical Engineering and Computer Science.en_US
dc.identifier.oclc1051460694en_US


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record