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: 1HegW9VsiMn9BUWdcV6kNS1eTAWjKPKtYe (http://bit.ly/1SWCP5T) Zero Knowledge Proofs are methods of providing cryptographic proofs to another party while keeping some information secret. The simple concept of ZKP offer tantalizing possibilities: Banks could prove solvency without revealing depositors. Governments could prove the fairness of an election without compromising privacy. Computer science professor Eli Ben-Sasson joined us to discuss where blockchains and cryptocurrencies intersect with Zero Knowledge Proofs and related technologies such as zkSNARKs. It offered a fascinating view into what will surely become a core part of blockchain tech in the future. Topics covered included: - What are proof systems? - Zero Knowledge Proofs (ZKP) and other terminology such as SNARKs and zkSNARKs - The mechanics of Zero Knowledge Proofs - The role of performance in Zero Knowledge Proofs - Applications of ZKPs - The widespread potential impact of ZKP to verify processes Links mentioned in this episode: - Eli Ben-Sasson's Website http://bit.ly/1PbbK9O - SNARKs for C talk by Madars Virza http://bit.ly/1PQFoah - Stackexchange: What are SNARKs http://bit.ly/1UEcqbq - SNARKs for C paper [PDF] http://bit.ly/20Cse26 - Zerocash Talk http://bit.ly/1Puy2He Sponsors: - Hide.me: Protect your privacy and personal data with a free VPN account at Hide.me/epicenter Show notes: http://epicenterbitcoin.com/podcast/116 SoundCloud: http://soundcloud.com/epicenterbitcoin/eb-116 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

William Mougayar is an experienced angel investor, start-up advisor and blog author operating out of Toronto, Canada. He has been a vocal advocate of the Ethereum approach for quite a while and appeared on the Epicenter Bitcoin episode 86 to discuss models for decentralisation focused businesses: https://www.youtube.com/watch?v=ROQDaagEDi8 I catch up with him again to discuss themes related to the Ethereum ecosystem: Is there a funding crunch in the crypto-ecosystem in general? What kind of opportunities he is most excited about. Current state of bank grade blockchain applications. Check out the video for an experienced investor’s perspective on the Ethereum ecosystem. William’s blog and twitter profile are great sources of information and perspective. Links: William’s blog: http://startupmanagement.org/ William’s article ‘The Business imperative behind the Ethereum vision’: https://blog.ethereum.org/2015/05/24/the-business-imperative-behind-the-ethereum-vision/ William’s twitter profile: https://twitter.com/wmougayar - Visit our website: http://epicenterbitcoin.com - Subscribe to the podcast: http://soundcloud.com/epicenterbitcoin/ - Follow us on Twitter: http://twitter.com/epicenterbtc

Edmund Edgar is the founder of Reality Keys. His startup won the Startup Challenge award at the Bitcoin 2014 Conference in Amsterdam. They are providing cryptographic data feeds on real-life events. This can then be used to base derivatives, contracts or insurances on. There is no question that services like Reality Keys will play a key role in crypto currency's future. Previously he was Director of Information Technology at Princeton Review Japan and he is also a graduate of Oxford University. Links: - Reality Keys: http://realitykeys.com - By My Coins: http://bymycoins.com - Edmund Edgar on Twitter: http://twitter.com/edmundedgar Show notes: http://epicenterbitcoin.com/eb-033 Running time: 1:09:29 Epicenter Bitcoin is hosted by Brian Fabian Crain & Sébastien Couture and is available on iTunes, SoundCloud, Mixcloud, Stitcher and other podcast aggregators. Website: http://epicenterbitcoin.com Subscribe: http://feed.epicenterbitcoin.com Subscribe to our Friday newsletter: http://epicenterbitcoin.com/newsletter Twitter: http://twitter.com/epicenterbtc Tip the show: http://epicenterbitcoin.com/tips