Silvio Micali: Algorand – A New Scalable and Secure Approach to Byzantine Fault Tolerant Consensus

We're pleased to be joined by Professor Silvio Micali, a computer scientist at MIT, who is known for his work in many of the technologies blockchains rely on today. Prof. Micali describes the concept of Algorand, an alternative approach to proof of work which offers high security guarantees while allowing the network to scale with demand. Relying only on a trivial amount of computation to validate transactions, Algorand also reduces the probability of network forks to near-zero. It uses novel mechanisms to select validators for blocks and enabling them to come to consensus on them.