The Future of Blockchains, FULL EPISODE with Silvio Micali, founder of Algorand

Real Vision senior editor Ash Bennington hosts Silvio Micali, founder of Algorand, to discuss Micali’s journey into crypto, the founding of Algorand, the power of randomness, zero knowledge proofs, and future of evolvability of blockchain protocols. When Micali discovered Bitcoin and Buterin’s blockchain dilemma—that no blockchain can all at once be decentralized, secure, and scalable—he knew there had to be way to solve this problem. He explains that in cryptographic systems, it’s easy to spread communication and messaging, but verifying if a message has been received or achieving common knowledge is difficult, which can prevent the achievement of security and trust in the system. For Bitcoin, Micali states that the blockchain has an ad hoc mechanism to reach agreement on a common block; on the other hand, Algorand uses a Byzantine Agreement on the block, utilizing the strongest form of consensus and mitigating the risk of “bad actors”. It also prevents the block from ever forking and, thereby, ensures that a block appearing on the chain will remain there forever, and this provides users the confidence to transact without worry of loss. Filmed April 16th, 2021.

Key Learnings: Contrary to Bitcoin where miners represent the decision makers in achieving a secure blockchain, Algorand utilizes what Micali calls pure proof of stake where members of the network are randomly elected, who then vote and represent the direction of the system. At the basis of Algorand is a cryptographic lottery that prevents the ability to change probability, ensuring fair selection and randomness to the system. Micali believes that a blockchain that functions well is built on the foundation of transparency, security, decentralization, and ultimately, trust, and a blockchain that can achieve that can truly transform finance. With randomness at the core of Algorand—from driving consensus on the block to password protection and true decentralization—Micali believes a system that diminishes the probability of bad actors and builds trust is the best way to achieve that ideology.

Thanks for watching Real Vision Crypto!

The Power of Randomness: Algorand and the Future of Blockchains
The Interview - Crypto | Featuring Silvio Micali & Ash Bennington

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[dg]

Ash is a phenomenal interviewer. I throughly enjoyed this conversation. And learned a lot.

[RealVisionCrypto]

You asked. We listened. Be on the lookout for FULL interviews dropping every FRIDAY. Sound off in the comments of who you would like to see next.

Enjoy the interview!
RV Crypto

[powerflower]

„Simplicity is the ultimate sophistication.“ (S. Micali). I particularly enjoyed the central part on zero knowledge proofs which added value to previous Micali interviews. :-) Furthermore, I liked your well-informed, very appreciative and respectful interview style and how you let him freely develop his ideas, Ash. Micali is such an intelligent, honest, sympathetic and humorous person with such humbleness and at the same time big vision. Fingers crossed for Algorand, fellow long-term hodlers!

[RealVisionCrypto]

For all you Visionaries asking for timestamps, please enjoy!

1:42 Journey Into Crypto
5:05 Algorand
15:11 Algorand Proof of Stake (POS)
23:28 Randomness
32:49 Engineering Risks
37:45 Zero Knowledge Proofs
57:38 How Zero Knowledge Proofs Are Being Used Today
1:04:13 The Auction Structure for Algorand
1:22:21 Evolvability

[MrChucklepuff]

This is great. Wow super long interview!

[Alpha.Horizon]

Silvio, genio assoluto nel mondo. Una delle poche bandiere Italiane! Grandissimo!
[ENG] Silvio, an absolute genius around the world. One of the few Italian representatives! Magnificent!

[tuffinc]

Who else fully gets the randomness explanation?😁 it was truly eye opening 🤪🤪

[CryptoHawaii]

ALGO is too undervalued…watch it moon guys 🌝

[italiandream]

After this interview I'm even more in love with Alrorand and so glad I bought into this project.

[Koopatroop]

Awesome to see you guys have a new channel, you'll have a ton of subscribers in no time.

[ivarsknohenfelds]

Fabulous 🤗👍. Very good questions and answers. Thank you for making a history!

[matthiasstaber]

how many times to watch this... many times probably

[cryptobehemoth]

That was a fantastic interview! Very high quality content, congrats! I'd love to see you talk with Emin Gun Sirer, one of the founders of Avalanche. He seems like a great guy, and with Avalanche being one of most technologically advanced blockchains right now, it would be very interesting to have a comparison point between them and Algorand. I think the future is bright for both those projects and I'm always on the lookout for more quality information about them. Have an awesome summer!
#suggestion

[ericbaehr]

I'm genuinely confused how this doesn't have more views... Perhaps a few years from now

[billybatz]

So if I spend 1 hour flipping a coin 300 times the total number of different possible outcomes is more than the amount of anything to ever exist in the universe combined? And I created this much randomness with a single two sided coin and an hour of my time?....came here for the need to have my position in ALGO re-enforced not to have my mind blown. God damn Silvio

[johnsonburgundypants]

Ash looking like a prospective PhD student wondering how he got such a long answer to his question "What projects are you offering?". Love it.

[MJL_TheREcast]

Enjoying this interview! Long ALGORAND!

[MrChucklepuff]

The person who disliked bought in too late.

[octavianfx]

How are my tokens that are nothing but a a record on a blockchain vote for the next block? I don't have any software installed??? What am I missing?

[YoungGrizzly]

This is the guy who read the Hitchhiker's Guide to the Galaxy and decided to find the question to the answer.