Podcast: Play in new window | Download
Consensus protocols are used to allow computers to work together. A consensus protocol lets different servers agree on the state of a system. For decades, these protocols have been used to establish consensus among database nodes, application servers, and other infrastructure that runs within an enterprise. More recently, new consensus protocols have been invented to allow cryptoeconomic systems to agree on the state of a financial system.
The first cryptoeconomic consensus protocol to reach wide adoption was Nakamoto consensus–the proof-of-work system used for consensus of Bitcoin. Since then, other systems have been developed, with different tradeoffs in security, speed, and formal verifiability.
Ethan Buchman is the CTO at Tendermint, a consensus system for blockchains. In addition to working on Tendermint, Ethan works on Cosmos, a network of blockchains. In this episode, we talk about different consensus systems–for centralized, trustworthy systems as well as for trustless systems like currencies.
Transcript provided by We Edit Podcasts. Software Engineering Daily listeners can go to weeditpodcasts.com/sed to get 20% off the first two months of audio editing and transcription services. Thanks to We Edit Podcasts for partnering with SE Daily. Please click here to view this show’s transcript.
ConsenSys has hundreds of web3 developers that are building decentralized applications, focusing on world-changing ideas like creating a system for self-sovereign identity, managing supply chains, developing a more efficient electricity provider and much more. ConsenSys is actively hiring talented software developers to help build the decentralized web. Learn more about Consensys projects and open source jobs at consensys.net/sedaily.