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Loop Fault Tolerance (LFT) is a proprietary high-performance consensus algorithm that supports Byzantine Fault Tolerance (BFT) and is used by the cryptocurrency ICON.
In LFT, consensus is based solely on message relay among participants without intermediaries. It aims to reduce the total steps required for reaching consensus as compared with preceding BFT algorithms. In traditional BTF designs, there are three steps from "pre-prepare", "prepare", to "commit", and LFT reduces these steps to 2.5 steps using a technique called spinning to simplify an overly complicated algorithm.
When the network is started, verification nodes transmit a desired transaction to the reader nodes which were determined. The primary node uses collected transactions to generate a block and sends it with a signature to the validation nodes. Validation nodes then verify the current reader has generated a block, the height of the block and the previous block hash are correct, data in the block is correct, and generates vote data which it propagates to all nodes in the network (if the first and third verification steps are correct).
