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http://traffic.libsyn.com/sedaily/VladZamfir.mp3Podcast: Play in new window | Download A cryptocurrency has a distributed ledger called a blockchain. The blockchain keeps track of every transaction that occurs across the cryptocurrency. This blockchain must stay up-to-date and verified–which requires someone in the network to do that validation. Bitcoin and Ethereum use the proof-of-work algorithm. Miners do computational work to validate the legitimacy of transactions across the network, and in return they are given
http://traffic.libsyn.com/sedaily/SmartContractSecurity.mp3Podcast: Play in new window | Download A smart contract is a program that allows for financial transactions. Smart contracts are usually associated with the Ethereum platform, which has a language called Solidity that makes it easy to program smart contracts. Someday, we will have smart contracts issuing insurance, processing legal claims, and executing accounting transactions. Smart contracts involve money, and they are likely to transact with cryptocurrencies. That makes
http://traffic.libsyn.com/sedaily/BuildaBlockchain.mp3Podcast: Play in new window | Download A blockchain is a data structure that provides decentralized, peer-to-peer data distribution. Bitcoin is the most well-known blockchain, but in the next decade we will see many more blockchains. Most listeners probably know that you could just fork the code of Bitcoin to start your own blockchain–but wouldn’t it be nice to know how to build a blockchain from scratch? Daniel van Flymen
http://traffic.libsyn.com/sedaily/EthereumBasics.mp3Podcast: Play in new window | Download Ethereum is a decentralized transaction-based state machine. Ethereum was designed to make smart contracts more usable for developers. Smart contracts are decentralized programs that usually allow for some a transaction between the owner of the contract and anyone who would want to purchase something from the contract owner. For example, I could set up a smart contract where a listener sends my smart
http://traffic.libsyn.com/sedaily/BlocksizeDebate.mp3Podcast: Play in new window | Download Visa processes 1,600 transactions per second. PayPal processes 193 transactions per second. Bitcoin processes only 3-4 transactions per second. In order to fulfill the dreams of financial programming–in order to get decentralized, peer-to-peer micropayments–Bitcoin needs a much higher transaction throughput. Bitcoin’s scalability issues have led to debates within the community and changes in the software. In this episode, Jordan Clifford gives an overview
http://traffic.libsyn.com/sedaily/DAOHack.mp3Podcast: Play in new window | Download The Decentralized Autonomous Organization (DAO) was a digital form of venture capital. It was an ambitious idea–to provide a new decentralized business model for organizing corporations on top of the Ethereum blockchain. Few people in the crypto community were opposed to this premise–but the timeline was short, the code requirements were tremendous, and in retrospect, a vulnerability was inevitable. The DAO launched in
http://traffic.libsyn.com/sedaily/CoinbaseSecurity.mp3Podcast: Play in new window | Download At Coinbase, security is more important than anything else. Coinbase is a company that allows for storage and exchange of cryptocurrencies. Protecting banking infrastructure is difficult, but in some ways the stakes are higher with Coinbase, because bitcoin is fundamentally unregulated. If a hacker were able to syphon all of the money out of Coinbase accounts, Coinbase would have no recourse–which means this
http://traffic.libsyn.com/sedaily/CoinbaseAntifraud.mp3Podcast: Play in new window | Download Coinbase is a platform for buying and selling digital currency: bitcoin, ethereum, and litecoin. Every payments company deals with fraud, but a cryptocurrency company has a harder job than most payments companies, because bitcoin transactions are anonymous and non-reversible. This is in contrast to a bank, which deals with a regulated, reversible transaction system. Soups Ranjan is the director of data science at
http://traffic.libsyn.com/sedaily/CoinbaseCurrencies.mp3Podcast: Play in new window | Download Cryptocurrencies have seen a surge of value recently. People are starting to see that bitcoin, ethereum, and other currencies are not just for speculation. At worst, they are a store of value–like digital gold. At best, they are a tool for micropayments, smart contracts, and an entire decentralized financial platform. Coinbase is a company for buying and selling cryptocurrencies. This episode is the
http://traffic.libsyn.com/sedaily/twentyone_edited.mp3Podcast: Play in new window | Download Bitcoin is underappreciated even to this day. The public focus is usually on the speculative value, but Bitcoin has functional value as a technology platform. If I want to make 100 transactions with my bank for 1 cent, the bank won’t allow it. Our current financial infrastructure is not set up for micropayments. Bitcoin is built with micropayments in mind. As Bitcoin works
http://traffic.libsyn.com/sedaily/blockchainapps.mp3Podcast: Play in new window | Download Cryptocurrencies are not only a financial instrument–they are a new platform for building applications. The blockchain allows for new solutions to digital property management, micropayments, hedge fund incentives, and ad fraud. The cryptocurrency platforms with the most traction are Bitcoin and Ethereum. Bitcoin has no central leader and is going through some growing pains with governance issues. Ethereum is led by the charismatic
http://traffic.libsyn.com/sedaily/Zcash.mp3Podcast: Play in new window | Download In bitcoin, every transaction in the shared ledger has the sender, recipient, and value. This ledger gets appended infinitely and is shared within a peer-to-peer network. Zcash is a cryptocurrency with all the features of bitcoin, plus encrypted transactions. The sender, recipient, and value fields are all encrypted. If bitcoin is HTTP, Zcash is like HTTPS, a secure transport layer. Nathan Wilcox works
http://traffic.libsyn.com/sedaily/ADChain.mp3Podcast: Play in new window | Download Online advertising is a system of transactions that involve many different players. The user visits a publisher’s website; the publisher notifies an exchange that the user is on the website; the exchange presents an opportunity to a marketplace that can buy that opportunity to show the end user the ad. And this a simple example. The transactions in online advertising are as opaque
http://traffic.libsyn.com/sedaily/coincenter_edited.mp3Podcast: Play in new window | Download Blockchain technologies like Bitcoin and Ethereum have not impacted the lives of most consumers today. The theoretical breakthroughs that blockchain enables will eventually happen–I will be able to pay 1 cent to a knowledge worker in Africa without having to pay a 5 cent transaction fee. My servers will be able to pay other servers for small compute jobs. We will have decentralized
http://traffic.libsyn.com/sedaily/decentralization_Edited.mp3Podcast: Play in new window | Download Almost a year ago, Software Engineering Daily aired a week of shows about decentralized technologies like Bitcoin, Ethereum, and IPFS. Bitcoin has established itself as a stable network, but it can only be used for financial transactions. Ethereum is a global computer built on a blockchain, but it does not have the adoption of Bitcoin. IPFS is a distributed data store with an
“Nature, technology, and society ultimately will favor the more efficient, the better working systems.”
Ethereum is a decentralized platform for applications that are guaranteed to run exactly as expected via smart contracts.
Ripple’s secure payment infrastructure puts distributed systems security theory to a real-world test.
David Schwartz is Chief Cryptographer for Ripple Labs.
http://traffic.libsyn.com/sedaily/ethereum_stephantual.mp3Podcast: Play in new window | DownloadEthereum reporting in the podcast media shows a large hype-to-substance ratio. Technical and financial criticisms facing Ethereum are as real as those faced by bitcoin. This episode is a departure from Databases Week. Stephan Tual is CCO of Ethereum and founder of Ursium, a blockchain consulting company. Thanks to Reddit and Quora for questions. Questions Was Vitalik correct in his allocation of millions
http://traffic.libsyn.com/sedaily/sidechains_rusty_russell_fixed.mp3Podcast: Play in new window | DownloadA sidechain is a blockchain you can move bitcoins into and back from, which may have different abilities than the bitcoin blockchain. The lightning network is a caching layer for bitcoin, which allows instant sending and failover to the normal bitcoin network if something goes wrong. Rusty Russell is an Australian free software programmer and advocate, known for his work on the Linux kernel’s networking subsytem and the Filesystem
http://traffic.libsyn.com/sedaily/ethereum_aarondavis.mp3Podcast: Play in new window | DownloadEthereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. Aaron Davis works on MetaMask, which brings Ethereum apps to the web browser. In this monologue episode, Aaron dives deep into the Ethereum internals, philosophy, and developer experience. Questions How does a blockchain represent a Merkle tree? Can a