Blockchains are a new settlement and ownership layer, one that’s programmable, open, and global by default, unlocking new forms of entrepreneurship, creativity, and infrastructure. Growth in monthly active crypto addresses is generally tracking the
Prediction markets are a hot topic again — even cartoon characters are talking about them (cf South Park). But beyond the buzz, what is a prediction market, exactly? How do they work, how are they designed, and what makes them work?
We answer all
The Narwhal system is a state-of-the-art Byzantine fault-tolerant scalable architecture that involves constructing a directed acyclic graph (DAG) of messages among a set of validators in a Blockchain network. Bullshark is a zero-overhead consensus protocol on top of the Narwhal’s DAG that can order over 100,000 transactions per second. Unfortunately, the high throughput of Bullshark comes with a latency price because of the DAG construction, increasing the latency compared to the state-of-the-art leader-based BFT consensus protocols. Sasha Spiegelman (Aptos Labs) introduces Shoal, a protocol-agnostic framework for enhancing Narwhal-based consensus. By incorporating leader reputation and pipelining support, Shoal significantly reduces latency. Moreover, the combination of properties of the DAG construction and the leader reputation mechanism enables the elimination of timeouts in all but extremely uncommon scenarios in practice, a property we call “Prevalent Responsiveness.” Sasha explains how he has integrated Shoal instantiated with Bullshark, the fastest existing Narwhal-based consensus protocol, in an open-source Blockchain project, and provides experimental evaluations demonstrating up to 40% latency reduction in the failure-free executions, and up-to 80% reduction in executions with failures against the vanilla Bullshark implementation.
About the speaker
Sasha is a Blockchain researcher at Aptos. He obtained his PhD from the Technion, where he worked with Idit Keidar on Distributed Systems. Prior to joining Aptos, Alexander worked as a research scientist at Novi (Meta) Research and VMware Research.
About a16z crypto research
a16z crypto research is a multidisciplinary lab that works closely with our portfolio companies and others toward solving the important problems in the space, and toward advancing the science and technology of the next generation of the internet.