The 3 Types of Consensus Protocols explained

There are 3 different types of consensus protocols:
Classical, Satoshi's, and a new one released last year called Avalanche

Emin Gün Sirer is a professor at Cornell and founder of Ava labs and he explains how each works, and the history behind them.

The newest, Avalanche, was released anonymously last year by a group calling themselves "Team Rocket" ('Team Rocket' is a reference to Satoshi's enemy in Pokemon). They created an entirely new consensus protocol, that is now being experimented with by multiple groups in the crypto space, including Emin who is developing a protocol called "Ava" (I explain Ava in my next video).

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Podcast:

[patrick_McD]

Interesting, we will see if this has any legs. I remember hashgraph was supposed to be a big deal, but I don’t think anything transpired. Two questions, can a current crypto integrate the avalanche protocol? Will any coins or new cryptos be using avalanche? Thanks!

[natemarx]

I really love how you are uploading much more than usual lately. 👌👌

[heaven-is-real]

nice to see the tech behind the coins being developed

[BitcoinOutLoud]

Using BTC's tx/second as an example of POW scaling is extremely misleading. Even Satoshi was aware that Bitcoin could scale to Visa levels on consumer-grade hardware, let alone professional hardware that would be used at scale, and its throughput is unrelated to its energy usage. (The energy usage is used to come to consensus on the state of the chain in a decentralized way, not process/validate/propagate transactions.) Transaction throughput is limited by propagation limits, mostly, and on BTC it's limited by a centrally imposed cap that has nothing to do with technological limitations and everything to do with the supposed "scaling debate".

Avalanche is very cool, but you still need a mechanism by which we decide who gets to be part of the crowd. Otherwise, you can "sybil attack" the network with thousands of "participants" to tip things in your favor. That's why using Avalanche for "pre-consensus" on a POW chain might be extremely valuable: you already have a set of entities who have proven that they are willing to invest work into the system: the miners of the past X blocks. They can use avalanche to come to consensus on which transactions should be included in the next block, making "zero-confirmation" transactions MUCH more reliable.

[WorldT]

Very good to get this moment and information about the 3 types. very helpful to know this and get his feedback. Always great to hear from a smart mind. Thanks for sharing. sincerely JR

[stacknsat]

Interesting to say the least....will continue to follow project

[roger]

Maybe the future will see a new form of consensus every new generation.. I guess Innovation in consensus could continue into the foreseeable future ? So many unknowns! Thanks Naomiiii 😃😃

[rwess]

Seems like the BCH folks are keen on this Avalanche mechanism, while the BTC'ers not so much...
If it works BTC should adopt it last.

[rjj]

why does everybody in Crypto hate xrp :(