Sawtooth lake

Sawtooth lake can run in both permissioned and non-permissioned modes. It is a distributed ledger that proposes two novel concepts: The first is the introduction of a new consensus algorithm called Proof of Elapsed Time (PoET); and the second is the idea of transaction families. A brief description of these novel proposals is given in the following section.

PoET

PoET is a novel consensus algorithm that allows a node to be selected randomly based on the time that the node has waited before proposing a block. This is in contrast to other leader election and lottery based proof of work algorithms, where an enormous amount of electricity and computer resources are used in order be elected as a block proposer, for example in the case of bitcoin. PoET is a type of Proof of Work algorithm but, instead of spending computer resources, it uses a trusted computing model to provide a mechanism to fulfill Proof of Work requirements. PoET makes use of Intel's SGX architecture to provide a...