Money Transfer Made Simple: a Specification, a Generic Algorithm, and its Proof

Abstract: It has recently been shown that, contrarily to a common belief, money transfer in the presence of faulty (Byzantine) processes does not require strong agreement such as consensus. This article goes one step further: namely, it first proposes a non-sequential specification of the money-transfer object, and then presents a generic algorithm based on a simple FIFO order between each pair of processes that implements it. The genericity dimension lies in the underlying reliable broadcast abstraction which must be suited to the appropriate failure model. Interestingly, whatever the failure model, the money transfer algorithm only requires adding a single sequence number to its messages as control information. Moreover, as a side effect of the proposed algorithm, it follows that money transfer is a weaker problem than the construction of a safe/regular/atomic read/write register in the asynchronous message-passing crash-prone model.