FAQ

What is (not) FastSet?

Is FastSet a blockchain?

No. Fastset is an infrastructure for other blockchains to integrate with. While it is a decentralized network for transaction settlement, FastSet doesn’t settle the transactions in ordered blocks via a consensus algorithm, like blockchains do. In FastSet, transactions are seen as elements in a set and are processed individually by nodes in the order they are received. We do enforce the same order on transactions initiated from the same account. You can read more here.

Is FastSet a Layer 0 (L0)?

Yes, to some extent. FastSet is designed as an infrastructure for various blockchains to integrate with, offering customizable verifiability. This gives Web3 a scalable, verifiable, interoperable, and decentralized foundation for blockchains.

However, FastSet is more than L0. FastSet also natively supports asset creation, transfers, and operations, so DeFi apps can thrive on it. With multi-language programmability coming soon, any apps—not just DeFi—can be built on FastSet, all while bridging different blockchains. Essentially, FastSet is not just Layer 0, 1, or 2. FastSet is The Layer.

Is FastSet a Layer 2 (L2)?

No. L2s are responsible for sequencing, i.e., ordering transactions, and computing and proving the next state. The sequencer collects, orders, and batches user transactions. The batch is then executed, resulting in an updated state, which is then settled on an L1.

FastSet does not order, nor batches the transactions. Instead, transactions are processed by nodes individually and in the order they are received. Each node updates its state individually and as such, FastSet guarantees strong eventual consistency, rather than strong consistency. Transactions are settled on FastSet, there is no need for an L1.

Is FastSet a Distributed Ledger Technology (DLT)?

Yes, with some add-ons. DLT is defined as a system where data is replicated, shared, and synchronized across geographically distributed nodes (ideally) via a consensus mechanism that maintains data validity. Blockchain is just one well-known example under this umbrella.

Unlike blockchains, FastSet doesn’t settle transactions through blocks (which require total ordering). Instead, it treats transactions as elements in a set (no total ordering needed), allowing parallel settlement that scales with more nodes for lightning-fast transactions.

FastSet supports customized verifiers in the network to handle specific claim types. So yes, FastSet is a blazing-fast DLT, with built-in customizable verifiability.

Is FastSet a payment infrastructure?

Yes. However, FastSet is more than that. FastSet is built to handle any type of transactions, from asset operations to zero-knowledge proofs, mathematical claims, and beyond, all treated as the core data it maintains.

Due to lightning-fast speeds of parallel settlement, FastSet is ideal for payments, swiftly moving assets from one party to another. But it can do so much more, unleashing possibilities far beyond just payments.

Terminology

What are local and global finality?

Finality refers to network latency, from the perspective of a single transaction. Local finality refers to the time it takes a validator to validate a claim, while global finality denotes the time it takes a validator to settle a claim. It collects all the claim signatures after local finality, aggregates them into one aggregated signature—the validation certificate for the claim, sends the certificate back to all validators, and settles the claim by applying its effect (e.g., updating the balances). One important aspect to mention is that while global finality is as final as it can be, meaning that the state of the validator is changed irreversibly, for local finality, there is no state change yet.

What is TPS and how is it computed?

TPS stands for Transactions per Second. In FastSet, it refers to the number of claims per second that can be effectively settled. Or the number of claims reaching global finality in one second. You can find out more here

What are verifiers/validators?

Verifiers are clients on the network, whose role is to provide specialized verification services of more complex claims. They are responsible for verifying the truthfulness of the claim.

Validators are the nodes of the network responsible for claim validation after the quorum of verifiers has been met and for actual settlement of the claims.

What are proxy services?

Proxies are facilitators of the interaction between clients, verifiers and validators. They broadcast messages signed by the participants and blindly aggregate signatures.

Are claims the same as payment transactions?

Yes and no. Payment transactions are a type of claims, but claims can be more than that. They can be asset transfers, mathematical proofs, zero-knowledge proofs, TEE attestations, etc. Any verifiable statement you can think of can be a claim.

How can you not have global ordering and still defend against double spending?

In FastSet we enforce same order transaction processing for transactions originating from the same account. Transactions carry a nonce, specifying the issuance number and transactions originating from the same account are processed in increasing order of the nonce. For example, claim c₁ has nonce 1, claim c₂ nonce 2, etc.