Explore the groundbreaking concept of Algorand, a truly distributed ledger, in this 1-hour 10-minute lecture by Silvio Micali, MIT professor and founder of Algorand. Delve into the blockchain promise, aspirations, and design challenges. Examine technical constructs like proof of work, centralized vs decentralized systems, and various proof of stake models. Understand the genesis block, architecture, and committee selection process in Algorand. Learn about Byzantine agreement, adversary challenges, and power goals in this innovative blockchain system. Gain insights into whether Algorand could be a game-changer in the world of distributed ledgers.
Overview
Syllabus
Introduction
The Blockchain Promise
Aspirations
Blockchain by Design
Blockchain is not acceptable
Technical constructs
The challenge
Proof of work
Centralized vs decentralized
Bonded proof of stake
Pure proof of stake
Genesis block
Summary
Architecture
How it works
Selecting by committee
Design from scratch
Byzantine agreement
Different steps different people
Relationship between committee members
Bad and powerful adversary
New power goal
Is Algorand a winner
Taught by
Simons Institute
