PhD candidate Yonatan Sompolinsky and Dr. Aviv Zohar, both of the Hebrew University of Jerusalem, released a paper this week on a new scalable BlockDAG — an alternative network structure to Blockchain — protocol called PHANTOM.
Sompolinsky and Zohar’s 2013 paper on the GHOST protocol introduced the BlockDAG structure — which essentially changes Bitcoin’s Blockchain structure into a tree — as a way to improve security and speed up transaction times.
In a talk at “Blockchain in Berkeley” in November 2017, Sompolinsky explained the BlockDAG structure as serving everyone simultaneously. This is in contrast with the structure of Blockchain, in which new blocks are added one at a time once they have been verified.
The PHANTOM paper builds off of the researchers’ SPECTRE protocol, which confirms transactions with recursive voting of previous blocks…