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)