Publication

FastPay: High-Performance Byzantine Fault Tolerant Settlement

ACM Conference on Advances in Financial Technologies (AFT)


Abstract

FastPay allows a set of distributed authorities, some of which are Byzantine, to maintain a high-integrity and availability settlement system for pre-funded payments. It can be used to settle payments in a native unit of value (crypto-currency), or as a financial side-infrastructure to support retail payments in fiat currencies. FastPay is based on Byzantine Consistent Broadcast as its core primitive, foregoing the expenses of full atomic commit channels (consensus). The resulting system has low-latency for both confirmation and payment finality. Remarkably, each authority can be sharded across many machines to allow unbounded horizontal scalability. Our experiments demonstrate intra-continental confirmation latency of less than 100ms, making FastPay applicable to point of sale payments. In laboratory environments, we achieve over 80,000 transactions per second with 20 authorities—surpassing the requirements of current retail card payment networks, while significantly increasing their robustness.

Related Publications

All Publications

HPCA - March 3, 2021

Heterogeneous Dataflow Accelerators for Multi-DNN Workloads

Hyoukjun Kwon, Liangzhen La, Michael Pellauer, Tushar Krishna, Yu-Hsin Chen, Vikas Chandra

MLSys - April 8, 2021

CPR: Understanding and Improving Failure Tolerant Training for Deep Learning Recommendation with Partial Recovery

Kiwan Maeng, Shivam Bharuka, Isabel Gao, Mark C. Jeffrey, Vikram Saraph, Bor-Yiing Su, Caroline Trippel, Jiyan Yang, Mike Rabbat, Brandon Lucia, Carole-Jean Wu

TSE - January 1, 2020

Approximate Oracles and Synergy in Software Energy Search Spaces

Bobby R. Bruce, Justyna Petke, Mark Harman, Earl T. Barr

OOPSLA - October 25, 2019

Getafix: Learning to Fix Bugs Automatically

Johannes Bader, Andrew Scott, Michael Pradel, Satish Chandra

To help personalize content, tailor and measure ads, and provide a safer experience, we use cookies. By clicking or navigating the site, you agree to allow our collection of information on and off Facebook through cookies. Learn more, including about available controls: Cookies Policy