Vault: Fast Bootstrapping for the Algorand Cryptocurrency Derek Leung, Adam Suhl, Yossi Gilad, and Nickolai Zeldovich MIT CSAIL Abstract—Decentralized cryptocurrencies rely on participants to keep track of the state of the system in order to verify new transactions. As the number of users and transactions grows, this requirement becomes a significant burden, requiring users to download, verify, and store a large amount of data to participate. Vault is a new cryptocurrency design based on Algorand that minimizes these storage and bootstrapping costs for participants. Vault’s design is based on Algorand’s proof-of-stake consensus protocol and uses several techniques to achieve its goals. First, Vault decouples the storage of recent transactions from the storage of account balances, which ena

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