Full Service API
  • Welcome!
  • Overview
  • API Endpoints
    • v2
      • Account
        • Account
          • Create Account
          • Import Account
          • Import Account Legacy
          • Get Accounts
          • Get Account Status
          • Get Balance
          • Update Account Name
          • Set Require Spend Subaddress
          • Remove Account
        • Account Secrets
          • Export Account Secrets
        • Address
          • Assign Address For Account
          • Get Address For Account
          • Get Addresses
          • Get Address Status
          • Verify Address
        • View Only Account
          • Import View Only Account
          • Create View Only Account Import Request
          • Create View Only Account Sync Request
          • Sync View Only Account
      • Transaction
        • Transaction
          • Build Transaction
          • Submit Transaction
          • Build And Submit Transaction
          • Build Burn Transaction
          • Build Unsigned Transaction
          • Build Unsigned Burn Transaction
        • Transaction Output TXO
          • Memo
            • Validate Sender Memo
          • Get TXO
          • Get TXOs
          • Get MobileCoin Protocol TXO
          • Get TXO Membership Proofs
          • Sample Mixins
          • Get TXO Block Index
        • Confirmation
          • Get Confirmations
          • Validate Confirmations
        • Receiver Receipt
          • Check Receiver Receipt Status
          • Create Receiver Receipts
        • Transaction Log
          • Get Transaction Log
          • Get Transaction Logs
          • Get MobileCoin Protocol Transaction
        • Payment Request
          • Create Payment Request
          • Check B58 Type
      • Block
        • Get Block
        • Get Blocks
        • Get Recent Blocks
        • Search Ledger
      • Network Status
        • Get Network Status
      • Wallet Status
        • Get Wallet Status
      • Version
        • Get Version
    • v1 (deprecated)
      • Account
        • Account
          • Create Account
          • Import Account
          • Import Account Legacy
          • Get Account
          • Get All Accounts
          • Get Account Status
          • Update Account Name
          • Remove Account
        • Account Secrets
          • Export Account Secrets
        • Address
          • Assign Address For Account
          • Get Addresses For Account
          • Verify Address
        • Balance
          • Get Balance For Account
          • Get Balance For Address
      • Transaction
        • Transaction
          • Build Transaction
          • Submit Transaction
          • Build And Submit Transaction
          • Build Split Txo Transaction
        • Transaction Output TXO
          • Get TXO
          • Get MobileCoin Protocol TXO
          • Get TXOs For Account
          • Get TXOs For View Only Account
          • Get All TXOs For Address
        • Confirmation
          • Get Confirmations
          • Validate Confirmations
        • Receiver Receipt
          • Check Receiver Receipt Status
          • Create Receiver Receipts
        • Transaction Log
          • Get Transaction Object
          • Get Transaction Log
          • Get Transaction Logs For Account
          • Get All Transaction Logs For Block
          • Get All Transaction Logs Ordered By Block
          • Get MobileCoin Protocol Transaction
        • Payment Request
          • Create Payment Request
          • Check B58 Type
      • Gift Code
        • Build Gift Code
        • Submit Gift Code
        • Get Gift Code
        • Get All Gift Codes
        • Check Gift Code Status
        • Claim Gift Code
        • Remove Gift Code
      • Block
        • Get Block
      • Network Status
        • Get Network Status
      • Wallet Status
        • Get Wallet Status
      • Version
        • Get Version
    • Signer Service
      • Create Account
      • Get Account
      • Sign Transaction
      • Sync Txos
  • Usage
    • Getting Started
      • Running Full Service
      • Create an Account
      • Receiving MobileCoin
      • Sending MobileCoin
      • Next Steps
    • Full Service Network Diagram
    • Supported Token Metadata
    • Database Usage
    • API Key
    • View Only Account
      • Signer
      • Signer Service
    • No Wallet Mode
    • Validator Service
      • Running
      • Running With TLS
    • Mirror Service
      • Running
      • Running With TLS
      • Running With Encryption
    • Logging
      • Text Logs (syslog style)
      • Crash Reports
    • T3
    • Sender Memos
  • FAQ
    • Resolving Disputes
    • How do I check if Full-Service is operational?
    • Where are logs stored?
    • How do I speed up account import?
    • What is the precision of MOB?
  • Glossary
    • Account
    • Block
    • Blockchain
    • Consensus Protocol
    • Fog
    • Full Service
    • Key Image
    • Ledger
    • MOB
    • Public Address
    • Secure Enclave
    • Subaddress
    • Transaction
    • Transaction Proposal
    • Validator Node
    • Validator Service
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  1. Glossary

Consensus Protocol

MobileCoin users must agree on the content of the blockchain for it to be useful as a record of accounts. Bad actors will have a financial motive to misrepresent the ledger to enable fraud and counterfeiting. In distributed computing, the challenge of reaching agreement in a group that can’t exclude malicious agents from participating is called the Byzantine Agreement Problem. All cryptocurrency payment networks must include code that solves the Byzantine Agreement Problem.

The MobileCoin Consensus Protocol solves the Byzantine Agreement Problem by requiring each user to specify a set of peers that they trust, called a quorum. Quorums are based on the real-life trust relationships between individuals, businesses, and other organizations that compose the MobileCoin Network. There is no central authority in the MobileCoin Network. Users accept statements about the blockchain ledger when their quorum convinces them that these statements are true. While the algorithmic design of MCP is based on the Stellar Consensus Protocol, the MobileCoin Network is not interoperable with the Stellar payment network.

The MobileCoin Consensus Protocol avoids the environmentally-damaging mathematical “work” required by Proof-of-Work ( PoW) consensus protocols like Bitcoin and realizes a much higher transaction rate than the Bitcoin consensus protocol. In contrast to Proof-of-Stake (PoS) consensus protocols, practical control of governance in MCP is ceded to the users who are trusted the most by the extended MobileCoin community, rather than to the wealthiest users who control the largest financial stakes.

MCP ensures that all operators agree on the sequence of valid payments that are completed. New transactions are grouped in blocks and published approximately once every five seconds to the MobileCoin Ledger.

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Last updated 2 years ago

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