Peter Gazi and Ouroboros Paos


Most decentralized cryptocurrencies today rely on the proof-of-work consensus protocol pioneered by Bitcoin. While an ingenious design, proof of work has several downsides, including its enormous energy consumption. A promising candidate for replacing proof of work is proof of stake.
We present Ouroboros (CRYPTO ‘17), the first blockchain protocol based on proof of stake with rigorous security guarantees. We detail how Ouroboros operates, the provable guarantees it provides and the main challenges in proving these guarantees.

Speaker: Peter Gaži
Date: Monday, January 8, 2018
Time: 9:00 AM – 10:00 AM
Location: MIT 32-141 (Stata Center, 32 Vassar Street, Cambridge, Room 141)

Bitcoin Scaling

The club had its first Open Discussion of the semester on 11/14. Ryan Stirling moderated the discussions centred around Bitcoin Scaling.

Block propagation time, its relation to the block size and to the incentives for a miner, adversarial model, etc. were a few among several other related topics discussed among a room full of attendees. The full minutes of the meeting can be read at this link.

We hope to have more open discussions and presentations in the coming weeks. Our meetings are always open to the public; every Tuesday, 8 PM, at 5-217. Hope to see you at the next meeting.



Click HERE for slides from Jeremy’s talk

Wednesday, September 28
Room 4-270

LBRY is a decentralized digital marketplace that uses blockchain technology to fix two of the biggest flaws of BitTorrent: discovery and monetization. Via an entirely peer-to-peer network, LBRY maps URLs like lbry://itsadisaster to the Hollywood film starring David Cross and Julia Stiles (film company Oscilloscope Laboratories is one of their early partners).

Come meet the CEO, Jeremy Kauffman, for an introduction to the LBRY protocol. LBRY is offering paid internships both this semester and next. LBRY is entirely open source. You can explore the source here or read more here.

LBRY will also be offering beta invite codes and credits to anyone who attends (though if you’re even moderately clever there’s no need to wait for a code to start using it 😉

Gnosis: Prediction Markets


A ConsenSys Formation

Saturday, August 20
5pm-7pm in
MIT room 4-231

Matt Liston from Gnosis is visiting to talk to us about prediction markets and their applications, Futarchy, and their upcoming crowdsale. A high level overview of the Gnosis prediction and oracle market will be presented along with a survey of applications including forecasting, betting, action incentive, governance, and insurance. The presentation will conclude with crowdsale and DAO structuring details and an open Q&A.

Hosted by ConsenSys and the MIT Bitcoin Club. Refreshments will be provided!

You can visit the meetup page for this event, or checkout the Gnosis website as they launch their beta.

Hangouts with Airbitz to learn about BitID

Wednesday March 16th
6pm-7pm in
MIT room 2-105

You can view the livestream at:

Airbitz has pioneered Edge Security–a new way to secure your most valuable data that’s easy enough for anyone to use. They are best known for their feature rich Bitcoin mobile app which is built on the Edge Security platform and allows users to buy, sell, spend, and secure their bitcoin.

Paul Puey is the CEO and co-founder of Airbitz. Paul is a proud Electrical Engineering and Computer Science graduate of UC Berkeley with a wide range of technical skills from low-level 3D graphics engineering to development of custom web CMS systems, even before people knew what a CMS was. He held lead engineering positions with Nvidia and Chromatic Research, but most recently owned and operated several non-technical small businesses throughout California. There he learned the importance of the intersection of people, business, and technology.

Instead of keeping up with a pile of usernames and passwords, imagine if you could access your online accounts with one private ID. It’s called BitID, and it’s available today. BitID uses the same cryptography that Bitcoin uses to prove the ownership of a particular key, even when the environment is unreliable or untrustworthy. With BitID, you can use your Bitcoin wallet to sign a message with your private key to login to online accounts. No sensitive, targetable personal information is ever exchanged.

Paul will be presenting BitID via video call.

MIT Bitcoin Expo 2016

MIT Bitcoin Expo 2016

Look at that amazing, impactful banner. Its bright plumage is calling your attention the third MIT Bitcoin Expo. March 5-6th in the beautiful MIT Samberg Center. We’ve got an amazing speaking lineup, just click on the banner to check it out on our website. We’ll take you on a journey from the foundations of bitcoin to higher level concepts that are directing the future of bitcoin technology. If you’re a student we’ll refund your ticket purchase in BTC after you arrive. If you’re a professional, we need your money, but in return we’ll do our best to make sure you have a good time.

Get your tickets now at!

Josh Cincinnati

Josh Cincinnati (@acityinohio) from BlockCypher will be presenting at the first MITBTC event of the 2015 school year. BlockCypher is a simple, mostly RESTful JSON API for interacting with blockchains. Currently, BlockCypher supports Bitcoin, Bitcoin Testnet3, Litecoin, Dogecoin, and BlockCypher’s Test Chain.

As usual, the event is free and open to everyone who wishes to come.

Date: Wed 10/21/15
Time: 7:00p – 8:00p
Classroom: 4-237

Alt Options Trading Competition

Alt Options

All, as part of their public Beta launch, Alt Options is hosting a trading competition featuring uni’s across the globe. For those interested, here is the link: In preparation Akash Nath will be hosting an info session this Friday.

Date: Fri 10/16/15
Time: 4:00p – 6:00p
Classroom: 4-145