Analyzing the real-world security of the Algorand blockchain
Published in CCS '23: Proceedings of the 2023 ACM SIGSAC Conference on Computer and Communications Security, 2023
The Algorand blockchain uses a consensus algorithm based on the Algorand family of consensus protocols by Micali et al. Deploying the protocol in practice requires a variety of modifications and engineering decisions that impact the protocol’s security in non-trivial ways. Our analysis accounts for these various changes, giving the first comprehensive security analysis of the real-world protocol. (The full version of the paper features improved bounds thanks to coauthor Fabrice Benhamouda; you can find that version here.)