Seminar: Asynchronous Byzantine Consensus Suitable for Decentralized Networks

Dominic Williams will be discussing Asynchronous Byzantine Consensus Suitable for Decentralized Networks Using Cryptographic Randomness For over 30 years the distributed computing community has worked on Byzantine consensus protocols, but when Bitcoin became the world's first transactional decentralized network it introduced a new type of consensus system. Known as Proof of Work or Nakamoto consensus, its new consensus system relied heavily on expenditure of electricity for security, scaled poor…