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Podcast: Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies
Episode: Silvio Micali: Algorand – A New Scalable and Secure Approach to Byzantine Fault Tolerant Consensus
Description: There is no doubt that proof of work, introduced in the Bitcoin white paper, has stood the test of time as a robust and resilient Byzantine Fault Tolerant consensus mechanism. However, many issues may prevent Nakamoto Consensus from securely scaling over the long term. The risk of validator centralization, network forking, block scarcity and high energy costs required to mine a block have all been extensively debated with no realistic long-term solutions to date. A new paper titled “Algorand” attempts to addresses these problems.
We’re pleased to be joined by Professor Silvio Micali, a computer scientist at MIT...