Cobalt: BFT Governance in Open Networks

We present Cobalt, a novel atomic broadcast algorithm that works in networks with non-uniform trust and no global agreement on participants, and is probabilistically guaranteed to make forward progress even in the presence of maximal faults and arbitrary asynchrony. The exact properties that Cobalt satisfies makes it particularly applicable to designing an efficient decentralized"voting network"that allows a public, open-entry group of nodes to agree on changes to some shared set of rules in a fair and consistent manner while tolerating some trusted nodes and arbitrarily many untrusted nodes behaving maliciously. We also define a new set of properties which must be satisfied by any safe decentralized governance algorithm, and all of which Cobalt satisfies.