The evolution of Ouroboros: A proof-of-stake implementation of Nakamoto’s vision

The evolution of Ouroboros: A proof-of-stake implementation of Nakamoto’s vision

Cybersecurity Seminars Online seminar
Tuesday, 10 November 2020
12:30 pm - 1:30 pm (AEDT)
Free

The release and wide adoption of Bitcoin has demonstrated how Byzantine consensus can be performed on a global scale. However, the intensive use of resources, such as electricity and specialized hardware, by bitcoin has led to considerable skepticism regarding its sustainability. This gave rise to blockchains and cryptocurrencies that rely on alternative, more environmentally friendly resources. A typical example is proof of stake

In this talk we will discuss how proof-of-stake based blockchains can achieve similar guarantees to proof-of-work based ones. We will focus on the Ouroboros family of protocols and walk through recent developments that demonstrate how such a technology can replace proof of work in Nakamoto-style blockchains, while achieving all the standard security properties including privacy.

About the speaker

Vassilis Zikas
Vice-Director, Blockchain Technology Laboratory, School of Informatics, University of Edinburgh

Vassilis Zikas is an Associate Professor and Vice-Director of the Blockchain Technology Laboratory at the University of Edinburgh. He was previously a research fellow and area leader for multi-party computation at IOHK, Inc., Assistant Professor at the Computer Science department at Rensselaer Polytechnic Institute (RPI), Senior Research Associate in Cryptography and Information Security at ETH Zurich, Research Fellow of the Simons Institute for the Theory of Computing, UC Berkeley, and postdoctoral researcher at UCLA and at the University of Maryland. Vassilis received his PhD from the Computer Science Department of ETH Zurich.

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