Local modifiers in the Tangle by Serguei Popov

As of today, there are many cryptocurrency systems around. They mostly share one common feature: all participants of the network interpret the same ledger in the same way. In this paper, we introduce the idea of local modifiers: the nodes of the network can interact with the ledger in different ways, depending on various kinds of information locally available to them. We then argue that such an approach permits to increase the security and the scalability of the Tangle.

[1] M. Menshikov, S. Popov, A. Wade (2017) Non-homogeneous Random Walks:
Lyapunov Function Methods for Near-Critical Stochastic Systems. Cambridge University Press, Cambridge.
[2] S. Popov (2015) The Tangle. https://iota.org/IOTA Whitepaper.pdf
[3] S. Popov, O. Saa, P. Finardi (2017) Equilibria in the Tangle. arXiv:1712.05385
[4] Y. Sompolinsky, A. Zohar (2013) Secure high-rate transaction processing in Bitcoin. https://eprint.iacr.org/2013/881.pdf

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