This is a quote from the book "B-Money" by Wei Dai
...s to a contract cannot agreeon an appropriate conclusion even with the help of the arbitrator, eachparty broadcasts a suggested reparation/fine schedule and any arguments orevidence in his favor
. Each participant makes a determination as to theactual reparations and/or fines, and modifies his accounts accordingly.
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In the second protocol, the accounts of who has how much mo
ney are kept bya subset of the participants (called servers from now on) instead ofeveryone. These servers are linked by a Usenet-style broadcast channel.The format of transaction messages broad...