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The HashGraph Protocol is a Byzantine fault tolerant atomic broadcastprotocol. Its novel use of locally stored metadata allows parties to recover aconsistent ordering of their log just by examining their local data, removingthe need for a voting protocol. Our paper's first contribution is to present arewritten proof of security for the HashGraph Protocol that follows theconsistency and liveness paradigm used in the atomic broadcast literature. Inour second contribution, we show a novel adversarial strategy that stalls theprotocol from committing data to the log for an expected exponential number ofrounds. This proves tight the exponential upper bound conjectured in theoriginal paper. We believe that our proof of security will make it easier tocompare HashGraph with other atomic broadcast protocols and to incorporate itsideas into new constructions. We also believe that our attack might inspiremore research into similar attacks for other DAG-based atomic broadcastprotocols.

Musings on the HashGraph Protocol: Its Security and Its Limitations