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: 1CdQ9yZbxzAKS3J894CHYXbpxmCz7D4Q75 (http://bit.ly/2egPjtA) A topic which is often discussed is the limited use of Ethereum applications without stable cryptocurrencies. Prediction markets are a prime example of this. When one makes a prediction using Ether, he or she is in fact entering into to speculations: one being the outcome of the actual prediction, the other being the price of Ether when the prediction resolves. Projects like Maker DAO try to solve the problem by developing complex systems to ensure that a blockchain token keeps its value in sync with fiat currencies. But Decentralized Capital is taking a different approach by issuing fiat-pegged tokens on Ethereum that are backed by bank deposits. CEO Alex Wearn joined us to explain their approach to providing a fundamental piece of Ethereum infrastructure. Topics covered included: - The problem Decentralized Capital is trying to solve - What the architecture of Decentralized Capital looks like - The relationship between Crypto Capital and Decentralized Capital - Why the ability of freezing and confiscating assets is required - Some of the best use cases for Decentralized Capital - The regulatory environment of Decentralized Capital - The Decentralized Capital business model Links mentioned in this episode: - Decentralized Capital Website: http://bit.ly/2eNq41f - Decentralized Capital is Live article http://bit.ly/2doN5SX - Introducing Decentralized Capital Video http://bit.ly/2eiPYe8 - Decentralized Capital and Dapp Integration http://bit.ly/2eiPJjn - Compliant Decentralized Exchange IDEX http://bit.ly/2doPmxw - Decentralized Capital's DVIP Memberships http://bit.ly/2eiPQeN Sponsors: - Jaxx: Wallets that Unify the Blockchain Experience Across Devices http://jaxx.io Show notes: http://epicenter.tv/153 YouTube: http://youtu.be/JZse9JlZPuI SoundCloud: http://soundcloud.com/epicenterbitcoin/eb-153 Epicenter Bitcoin is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy.