|Ledger type||Public / Private|
Does not require permission or a known set of participants, in contrast to PBFT and other variations of BFT. FBA allows anyone to join the network. Transactions in this protocol are validated by a fixed number of participants who are selected from those who are online at the time.
According to the FBA rules, there are “Gateways” and “Market Makers”, which ensure the integrity and liquidity of the network. The former act as traditional banks that own financial assets and create their equivalent in virtual tokens. The second - keep accounts with numerous gateways and in several currencies at once.
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