• Speaker : Saad Quader
  • Location : ITE 301
  • Date : March 30th, 2018
  • Time : 12:00 - 1:00 PM

Abstract

Bitcoin is a blockchain protocol where finalized transactions need a “proof of work”. Such protocols have been criticized for a high demand for computing power i.e., electricity. There is another family of protocols which deals with a “proof of stake”. In these protocols, the ability to make a transaction depends on your “stake” in the system instead of your computing power. In both cases, it is notoriously difficult to mathematically prove that these protocols are secure. Only a handful of provably secure protocols exist today.

In this talk, I will tell a lighthearted story about the basics of the proof-of-work vs. proof-of-stake protocols. No equations. Please drop by.

Bio