David Mazières: "The Stellar Consensus Protocol: A Federated Model for Internet-level Consensus" This talk presents federated Byzantine agreement (FBA), a generalization of the standard Byzantine agreement problem. Unlike traditional Byzantine agreement--which presupposes unanimous agreement on system membership--the FBA model grants organizations individual control over whom to trust, allowing membership to grow organically out of pairwise relationships between participants. Compared to proof-of-work and proof-of-stake, two other decentralized alternatives to Byzantine agreement, FBA enables far more efficient constructions with greater margins of computational security.