 |
Two Confirmations | Crypto Over CoffeeJoin us as we discuss the decentralized future an Author: Block Brothers
Join us as we discuss the decentralized future and how cryptocurrencies like Bitcoin, Ethereum, and others will usher in changes to the way we live our lives. While still early days in the technology, Chris Porter and Paul Holze share their adventures in trying out projects that are live on main net today. Language: en Genres: Technology Contact email: Get it Feed URL: Get it iTunes ID: Get it |
Listen Now...
The Blockchain Trilemma
Monday, 17 June, 2019
In this episode we cover a simple and straightforward way of understanding Bitcoin, called the Blockchain Trilemma. Thomas Sowell once said, "There are no solutions only tradeoffs" and this is especially true for Blockchains. In this trilemma, there can only be two of these three factors: Decentralization, Security, Scalability Each of these are a gradient between extremes. Decentralization in blockchains relate to how much a project aligns with each of these factors: -permissionless, anyone can be a node on the network, anyone can buy mining hardware and help to secure the network and record transactions. -Distributed -Censorship Resistant -Democratized Consensus -Redundancy Scalability in blockchains relate to: -transaction speeds -network throughput -ability to bootstrap the network -Cost of Participation -Offchain capabilitiies Security in blockchains relate to: -Fault Tolerance -Attack Resistance -Incentives to secure the network -Evolving code base -Secure by default (from a users perspective) Link to our slides from our presentation on the Trilemma at the University of Arizona: https://drive.google.com/file/d/1ApxOUJmv68ndaV3YxQ9yf5QYyPm5e4b4/view
