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CESC2020: Algorand s Decentralized Token Bridge
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About the talk

Speaker: Silvio Micali


About speaker

Silvio Micali
Founder at Algorand

Silvio is a world-renowned cryptographer who earned the Turing Award in 2012 and serves as the Ford professor of Engineering at MIT in Boston, where he has been on staff since 1983. Silvio is also a co-inventor of zero-knowledge proofs and is best known for some of his fundamental early work on public-key crypto systems, pseudorandom functions, digital signatures, oblivious transfer, and secure multiparty computation. He also won the Goedel Prize (in theoretical computer science) and the RSA prize (in cryptography). He is currently working as the founder of Algorand, a blockchain platform that solves the infamous “trilemma” that delivers decentralization, scalability, and security.

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2020 Ford F150. Ladies and gentlemen, good morning, saw algorithms solution to the blockchain interoperability organizers for inviting me. I think, I like chasing, I'd like to be back. Let me continue. We've actually congratulating, they organizers to have the gas dryer in the inside Channel. I go about situation to organize that one more time. Such a civilized and counter. We need more of these letters and science pandemic or not, life continues. And we want to make it better. Great. Beer is good gender for today.

A quick recap, a Battle Ground, then Alyssa discuss the interoperability water, our expectations and then not we distinguish the two kinds of interoperability with you and gold curtains and decentralized Holcomb Bridge and I will buy the food. We're on the first of all everybody knows what the blockchain. He's at the centralized database readable by anyone by anyone enough trouble by anyone. May potentially is immense because who does not like a database which is inevitable.

Who does not like transparency. Who does not like a generating trust. Among the people who barely know each other stations are Challenger blockchain World. From the very beginning is very big gap between our aspirations in the technology in the age of exploration. As a pool for betting on semi vs pedestrian, we're disconnected from the technology. I just want to be clear and gold by famous builder in the trailer but in a blockchain you cannot have it several times nicely decentralization, security and scalability where to where it is

and is not acceptable. Because you want to get rid of security. Are you kidding? You want to get the end of the centralization while you have a blockchain? Do you want to get the hint of scalability? What is in the blockchain and going to do helping friends and family that really is not acceptable and fortunately is full. So in fact, I'll go and managed to be decentralized secure and scalable at the same time. And by the way, as also some good for birthday, such as a full transaction remains

on the Chain, so if you are paid and your payment appears in the latest block out, the to the train ship to be good because you know, and I'll grant that bed block is going to be there forever and disappearance of blocks that you to worry about. Another good thing is, they are one smart contract so he doesn't have it actually not done that earlier too but not fragile. They're not an awesome are expensive. They are not among slow. They are done every five seconds. So I can are going to block At the same lawyer that handle of

consensus over a secure and as fast as an ordinary payment, and then we have our own smart as my contract, but I totally different design. And by the way, what are they? First of all, they are they are and efficient since you already Let me give you an example. Atomic swaps. Most useful tool for a circle in trade. You have an asset that I won't even answer that you want. And now you want to swap her now before this baby in a blockchain to like I would want, I can give you my answer to you in

a few seconds. But then I go to say please, please please give me your house, so nobody wants to go first. I'll do we solve this problem? The real world about the trust and Miguel. Well, no thanks why? Because it's costly and he's also there are you leaving Thailand the same? I live in Boston. Massachusetts. What are the chances that we both know and trust? How about tradition of my phone? Well you know, they are slow Vehicles. No, they pass by later to

smack on top going rogue. Never mind. Why when would we do if we swap in a single transaction? Okay? So another words I post something on the blockchain knowing that if and only if you do the same, which I don't know if you're going to do. But if you do bingo, So what is good about that at a single transaction is better? That is not reading right? Because it's not what I signed you first and then I depend on you a single transaction. I cannot treat you get what? I hope you won't even believe I get, he's no way I do, because he's done a delay at 1 at the West End in

this area for doing Compassus. Only Atomic swaps, not at all. You can't organize an entire building in layer. One without the name, you can color eyes, only can run four layer one to grow. Enough about a block change in general, and I'll go and let's focus now on interoperability. No chain is an island, what does it mean better? It is always true that the world outside is larger than the world is inside. Or said it. I don't know, but that is why no matter how good or not reach, your ecosystem can be the

world. A large is a bigger and better place. And if you don't do it when you you can, you are my first threesome prisoner of the blockchain. But the trucks you from the outside but it's going to be another place. Then you won't think though, but hey I'm not go. Well change, but the ground survey. Same consensus particles in Chains. Veterans different. The first type of interaction recorded, call chains and the other ones tool allows such interaction with.

So let me tell you about Algona, coche coche. First of all is an independent train, okay? So you were on your own consensus algun verifiers do not interfere with it at all, you are in charge of your own destiny. You are a private chain with means of it. The world outside cannot see your transaction Arrow taxi, but inside you need a blockchain. You need a consensus mechanism. What contents, what do you run with? Makes you a culture and by the way, why do you want to hang out for free? Good reason. The first one is I think it's a good idea

and Aaliyah One In meth is actually good on his own. Don't you want your own members of your own ecosystem of your own blockchain? Do I have a large sweet. So, so much concert with the same ease and security ahold in Alabama. In the food thing is interoperability and interoperability between whom and who the first form of ability is between a coal train that you see there in blue or blue or chain in the main chain in black and so you may want to transfer it. A blue acid rain.

Why you want to do that? Because there is going to be an auction and when you put an asset and it is much higher as the number to Beto's real. So if you want to be in a public admission office Okay. You sold it and now what you reap a drapery Assets in in your coaching and I want to tell with Highway 4 Lane eight-lane Highway need to Direction. They're very, very fast, very fast to transfer your asset, to the main train. And once you sold it very fast to transfer the money back, Excellent. Now, there

isn't going to be another type of interaction in which is about coaching to go to him. But let me still maintaining video. There is a blue chain chain with Ruby and the vegetable to the main train. And they actually choose to transfer to some specific public-key Adventures. This publicly as run room and use it only wants to give you some privacy. So meant to say besides that, I want to be on in Bergen main train to publicly blue PK and the be too public here at the gate that you just met each. One of us, makes a Visa chases, a dog

in a few seconds. Our assets are now Associated to the public, but you control tower legendary. Eight bits a few seconds in Lane one and then what do we do with the assets by giving to the same public key but we control in our respective blockchain. Stop. You transfer to my main train, you swap them there and you he portrayed the new Goods that you have acquired. Meanwhile be maintained as actually a good thing, we're about blue bees and we're bastard is so if somehow I go nuts in my blue chain and I tried to transfer a again

the name change says we're Lionel or Silvio their savior. But now that you are not allowed, you cannot transfer. You cannot sell it. It's not yours anymore. Labeled so okay so we are by your an ecosystem. People will run out on the inside and Battery assembler change and bacon of course in the best of breed a consensus protocol inside and they can operate very quickly with a food chain with everybody else. And I clean my but they can do it in a decentralized way. Why is this claim plausible and believable? you're ugly, because

Change that the use of the same consensus protocol can interpret each other's block, the same ones you specify who Beverly fires. Are I know how a block of yours look like. And you know, I walk of mine looks like the girls is the same structure of a Blog that the name algon chain uses. Okay, I got it. Another words of his notion of a coal train is like maintain becomes a hub for all the interconnected. He's aha. Where is a second? The Xavier it is is a

nimbus picture is connected to everything. Very big Parts, connected to everything else and you say I knew idea. There is a lot of people who want to do the same thing, and if you really want to join the couch, and then Implements of us, have no idea. You better take a taxi to go to the line is long as we don't go take some time to get there. Let me ask at home abs equal and let me give you a hint now. I have is only as good as the infrastructure limited office so that you can go and parachute

asset to a Common Center. That's okay, this is the Same by Ben. Would you find in the center in bed matters? So, let me give you an example about Airline hubs with everybody knows assume that you have a hamburger in which you ever actually mechanics to save your points. You have a hunger where your claims are going to be work. Now you have both failed when you're cool misses of a plane. At least the rest. You have a bunch of you. Get the free ice cream at listen. To tell you, it's pretty clear that you choose to mess

up the volume. Okay, so we believe but the Hub is where the birthday cake is. And we have a lot of thick, but if I don't function, well either one's not going to get together very comfortable, leading in the sub, or interacting whatever they want in this Vein Center. Decentralized token bleach. We have understood the bicycle chain interactions. Interoperability between change. What is the central I spoke English? Well, first of all, now we won't operate with public with different content. How different can be by consensus

mechanism in Publix a scary. So, before work here is their idea of a man consensus. The first one to solve a very hard riddle to chuse. Chuse play, One People, hopefully will be honest and they will choose the next block on behalf of all of us. Delegates, will put the money in the table. Austin hostage in the block from our token is randomly selected by Magic. The Pub Pennsauken must belong to some public key with public Key by my dream becomes known to all users

best public. He must belong to somebody and let somebody proposes and propagates on you Brock. After he or she has done a fashion focus on randomly selected by Magic. They want to agree on the block or possibly first use So what is the problem with the comment that the elpis making the possibility argument that this is going to work in a decentralized matter? No longer works here because it's so much better but we can interpret and recognize and verify a block of each other. Then

what are we going to do something? We need to do a bunch of zeros and here is Extreme. You put some things a whole year is approved for that. I want to load, or even allows me to propose a block and so they know what to do. The first been patiently centralization cuz we don't know what to do. We think, centralized. So, we may soon be over here. Central party was going to help us in terabyte and the central party, but I am trusted by you all. So you say, Let you know and it's making a

concrete Central party. Tells you that the blue a has been transferred for the blue chain, trust me but he's no longer. Besides it's in your blue chain, trust me that is nowhere else. Excepting, your red chain and you're willing to buy be ready to buy it and bid starts on Jungle indoors Well, what are you going to do before I put the start the Bingo Rancho. Bernardo. How do I know about the unfortunate? Soul Visa is a video Bank? Whatever happens in the blue tank to me is a kind of out a dark cloud of it. I can't see inside things.

so I can say, well, I what you you there to distrust me As a matter of fact, yes, you centralized swine, I distressed you. Next baby. Oh damn, great idea. Now we have not the one about saving potty and even majority of work for stay out of this reporting with a knife and really has been the leader in one chain and maybe I should use it. And we have the Seven Dwarfs Dopey sleeping grumpy and why are the seven dwarfs? Because remember when in a blockchain works, okay? You should have said you are

trillions of dollars in assets and there are going to be some really big players and who are these the seven major to want to help us. in the fact that they post some money but the way out of this, bruising, if they say the truth, it's 11 because the wind is so high. It has the big bank doesn't give you any Assurance of honesty. So what is our philosophy wants to transfer an Asus from a blue train to good chain to bring someone with you first met. Somebody already trust the blue tank because he has kept an acid are so far, and be

your mistress that he wants to cancel their best. Part is not need to trust anybody else. Not want me just to feed note5. So what do we want is a best centralized talk? Don't let them get them. You what is the Tagalog word for doing this again? Do we need the two main tools when we need the blue chain to have simethicone drops and baggage claim to have a smart card. And by the way, if a blue chain does not a man is not contract or, you know, he doesn't even have the interoperability inside. So the notion that we should have demanded with interoperate. So

the outside is a little bit too much. End of a single tool compact certificate in what time is compass certificate. These are reciprocal way possible over the wheel of the entire blockchain. Don't trust me to tell you what block the Blue Block Chain has been done as the man has been doing or Butthead chain has just done. You want to reward of entire block Come by transit. We're going to do some magic. They start easy somehow. You started taking a commitment

to all balance sheet on the Block in public, a number of organization blockchain us. And as you can imagine is very, very small here it is because we want to represent the way we love entire chain. We collect the signatures of 80% of the state of a check. My commitment tells you what we're mistake is we just signed signed signed signed signed signed 80% of estate. Well guess what, now they can meet them at was more about collecting so many things in the last face is better. We do a

convincing signature reduction by shrinking his number to Olga. So many signatures do something as fee was 64 signatures so by not even Bobby. Seniors are only 64 by Magic, you know that the beta a percent, And or the wheel of the entire blockchain. Okay. That is composite change. Certificates are and they are, they are implemented. So implemented in two phases. The first place, we shall Implement individual Solutions based on fancy algebra Construction. In the next implementation is going to be

fancy. use a, what order asphalt wrong and why your sponsors because two reasons, first of all, better be a Quantum, Brazilian say goodbye to Avery blockchain understands because every chain, All right, so stage you'll know we are going to bring a token bridge to use the next few months. We are already started putting things up in the in finishing. Likely will tell you what the my take is. My take is with blockchain are sophisticated girls and sophisticated gold require sophisticated technology.

And now about the canola G, I really believe that can ology is quintessentially humor and ever since we came down from the trees to produce a refresh tool, we became more human and actually take a knowledge. He's going to be really cool shock to realize. I would you mind letting me send you our world is going to be is becoming increasingly complex and we need the more and nothing less technology to solve this complexity and Keep Us Alive. Even more suspicious canola G, as being our past, our present

and end will be our future. So long, leave technology and a good day to all.

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