Support the show, consider donating: 1L19WwToTupNCiay9w4Zdg7uMwuU2isKDL (http://bit.ly/2jHyAwM) 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, who is known for his work in many of the technologies blockchains rely on today. As one of the co-inventors of zero-knowledge proofs, he has been decorated with a number of prizes and awards, including the Turing Award, which he received in 2012 for his work in cryptography. Prof. Micali describes the concept of Algorand, an alternative approach to proof of work which offers high security guarantees while allowing the network to scale with demand. Relying only on a trivial amount of computation to validate transactions, Algorand also reduces the probability of network forks to near-zero. It uses novel mechanisms to select validators for blocks and enabling them to come to consensus on them. Topics discussed in this episode: - Professor Micali's fascinating career in the fields of computer science and cryptography - The technical limitations of proof of work - The ideal properties for a truly decentralized, secure and scalable cryptocurrency - Algorand's new approach to Byzantine consensus - Algorand's strong adversarial model - How validators are randomly selected by the network - How validators are chosen and how they arrive at consensus - How Algorand guarantees a low probability of network forks - How Algorand addresses the issue of scaling and block size - Algorand's roadmap and future plans Links mentioned in this episode: - Algorand White Paper: https://arxiv.org/pdf/1607.01341v7.pdf - Algorand talk by Silvo Micali on YouTube: https://www.youtube.com/watch?v=Xauku8XWoSE - Silvio Micali - Wikipedia: https://en.wikipedia.org/wiki/Silvio_Micali Sponsors: - Jaxx: Wallets that Unify the Blockchain Experience Across Devices - http://jaxx.io This episode is also available on : - Epicenter.tv: https://epicenter.tv/169 - YouTube: http://youtu.be/a40Xt7GnPvs - Souncloud: http://soundcloud.com/epicenterbitcoin/eb-169 Watch or listen, Epicenter is available wherever you get your podcasts. Epicenter is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy.

Support the show, consider donating: 1NiAfwkdp5qsgy9NDGTFPabxpPhhAdR43L (http://bit.ly/1pKWtXT) One of the major drawbacks of Bitcoin is its low transaction throughput. Maxing out only a handful of operations per second, there have been many proposals to scale it up so that it can compete with existing distributed database technologies. As the blockchain's demand continues to increase, it's unclear if the Bitcoin protocol will ever be able to handle thousands, if not millions of transactions per second. BigchainDB is taking a different approach. Rather than trying to scale up blockchain technology, it starts with a big data distributed database, RethinkDB, and adds blockchain features and characteristics. Trent McConaghy, Co-founder and CTO of Ascribe and BigchainDB, joins us to talk about how this protocol may become to databases, what IPFS and Ethereum are to distributed filestorage and computing, respectively. Able to perform more than one million writes per second and capacities in the petabytes, BigchainDB has the ambition to become the world's public database platform. Topics we covered include: - A brief update on Ascribe since Trent was last on the show - The motivations behind BigchainDB and that problems it's trying to solve - How BigchainDB plans to solve the typical scalability bottlenecks found in blockchain protocols - BigchainDB's capacity, performance and latency characteristics - BigchainDB's consensus model, applied to RethinkDB - Potential application for BigchainDB, in both centralised and decentralised application stacks Links mentioned in this episode: - BigchainDB: https://www.bigchaindb.com/ - BigchainDB Whitepaper: https://www.bigchaindb.com/whitepaper/ - Ascribe: https://www.ascribe.io/ - Left Gallery: https://left.gallery/ - 23vivi: https://23vivi.com/ Sponsors: - Ledger Nano: Smart card security for your Bitcoins - Get 10% off your first order when you use the code EPICENTER at http://ledgerwallet.com Show notes: http://epicenterbitcoin.com/podcast/126 SoundCloud: http://soundcloud.com/epicenterbitcoin/eb-126 Epicenter Bitcoin is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy. - Visit our website: http://epicenterbitcoin.com - Subscribe to our newsletter: http://epicenterbitcoin.com/newsletter - Twitter: http://twitter.com/epicenterbtc