what's Minimmit?
Minimmit is a consensus protocol aimed at achieving fast finality in permissionless blockchains while enabling even faster block production. It builds on partially synchronous network assumptions to provide low-latency agreement among distributed nodes, addressing challenges in geographically dispersed systems like those in blockchain networks. The protocol ensures that once a block is finalized, it cannot be reversed, offering strong guarantees for transaction security and system consistency. At its core, Minimmit uses a multi-round voting mechanism with cryptographic primitives such as threshold signatures and aggregate signatures to optimize message dissemination and recovery from asynchrony. It includes formal proofs for consistency, liveness, and optimistic responsiveness, meaning it progresses quickly under good network conditions. Optimizations like erasure coding further enhance efficiency, making it suitable for high-throughput applications in blockchains and distributed databases.
Minimmit, proposed to replace Ethereum's Casper FFG, offers one-round finality, 17% fault tolerance.
Proposed as the finality gadget to replace Casper FFG in Ethereum, offering one-round finality instead of two-round finality with 17% fault tolerance compared to Casper FFG's 33%.
Implemented as the consensus protocol on Tempo for fast finality with faster blocks, and in GTE's Margin Engine layer managing risk control, margin verification, collateral calculations, liquidation monitoring, account states, PnL, and liquidation criteria through independent consensus.
Research paper titled "Fast Finality with Even Faster Blocks" is now available on arXiv academic repository.