CCBN:
CROSS-CHAIN BLOCK NOTARIZATION
An Overview of a Decentralized Approach to Thwart Secret Mining Attacks
CCBN:
CROSS-CHAIN BLOCK NOTARIZATION
An Overview of a Decentralized Approach to Thwart Secret Mining Attacks
A Fully Decentralized Protocol against
Double Spends powered by Secret Mining 51% attacks
BTG blocks are Notarized to well-known public blockchains which serve as our “Notarychains.”
Notarizations contain complete BTG block headers with the solution hashes
(so they cannot be faked.)
Notarizations gain Weight based on their depth in the Notarychain. Those made earlier gain Weight faster than those made later.
When a competing chain of blocks (a fork) appears, BTG nodes with CCBN do not switch to the longer chain immediately.
Instead, they check the Notarychains to calculate Weight and will only switch to a longer chain that also has more Weight.
If a “natural” fork occurs and all blocks are Notarized, CCBN has no effect. No change to normal PoW (Nakamoto Consensus.)
If a Secret Miner Notarizes blocks, they become public!
Key parties (like Exchanges) can see the Notarizations and will not confirm deposits.
But if a Secret Miner does
not Notarize…
When they later publish their Secret chain, nodes refuse it because of low Weight, preventing the attack.
Either the first spend is refused by the Exchange, or the second spend is refused by the chain.
Either way, a Double-Spend fails!
CCBN is essentially a backup Consensus method, used only to arbitrate a chain split in favor of the honest chain.
Simulations show that notarizing to well-selected Notarychains provides > 99% protection against attacks
Fully Decentralized:
no masternodes, notarynodes, federations, consortia, or privileged parties.
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