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Proof of Work and Proof of Stake
Proof of work is like buying lottery tickets. It's a synthetic resource, but you still have to do the other two things. The big difference is this step in the proof of work world is horrendously expensive. You use more energy than the nation of Switzerland. And if the government sees it now, they're trying to sell miners or move their property.
Charles Hoskinson is the founder of Cardano, co-founder of Ethereum, a mathematician, and a farmer. Please support this podcast by checking out our sponsors:
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EPISODE LINKS:
Charles’s Twitter: https://twitter.com/IOHK_Charles
Charles’s YouTube: https://www.youtube.com/user/charleshoskinson
Cardano Website: https://cardano.org/
IOHK Website: https://iohk.io/
PODCAST INFO:
Podcast website: https://lexfridman.com/podcast
Apple Podcasts: https://apple.co/2lwqZIr
Spotify: https://spoti.fi/2nEwCF8
RSS: https://lexfridman.com/feed/podcast/
YouTube Full Episodes: https://youtube.com/lexfridman
YouTube Clips: https://youtube.com/lexclips
SUPPORT & CONNECT:
– Check out the sponsors above, it’s the best way to support this podcast
– Support on Patreon: https://www.patreon.com/lexfridman
– Twitter: https://twitter.com/lexfridman
– Instagram: https://www.instagram.com/lexfridman
– LinkedIn: https://www.linkedin.com/in/lexfridman
– Facebook: https://www.facebook.com/lexfridman
– Medium: https://medium.com/@lexfridman
OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(09:12) – What programming language is the simulation written in?
(14:17) – Favorite philosophers
(23:18) – Theory vs engineering in cryptocurrency
(34:27) – What programming languages should everyone learn
(42:42) – Haskell and beyond
(46:26) – Plutus: Cardano’s smart contract platform based on Haskell
(50:53) – What is a blockchain?
(55:05) – Hybrid smart contracts
(1:00:55) – Proof of work vs proof of stake
(1:09:42) – Cardano’s proof of stake consensus algorithm
(1:20:14) – What is Cardano?
(1:28:55) – Cardano vs Ethereum vs Bitcoin
(1:38:50) – The problem with Bitcoin
(1:48:24) – Bitcoin Conference
(1:52:05) – Ergo and Alex Chepurnoy
(1:59:15) – Cardano’s Extended UTXO Model
(2:06:27) – Chainlink and Oracle Networks
(2:13:40) – Cardano and Wolfram Alpha
(2:18:35) – The future of video games
(2:27:10) – Smart contracts timeline for Cardano
(2:34:40) – Decentralized exchanges
(2:40:21) – Jack Dorsey and Bitcoin
(2:46:33) – Elon Musk and Tesla: Cardano, Ethereum, Bitcoin
(2:49:50) – Dogecoin and Elon Musk
(3:01:11) – Hydra vs Lightning Network
(3:08:45) – Non-Interactive Proofs of Proof-of-Work (NIPoPoWs)
(3:12:39) – Cardano failure modes
(3:21:00) – Cardano vs Polkadot
(3:26:05) – Vitalik Buterin
(3:34:16) – Corrupting nature of power
(3:44:26) – Satoshi Nakamoto
(3:50:37) – Cardano’s vision for decentralized governance
(4:03:31) – Cardano in Ethiopia
(4:07:33) – El Salvador and Bitcoin
(4:13:50) – Cryptocurrency will inject capitalism with long-term incentives
(4:23:42) – Day in the life of Charles Hoskinson
(4:30:59) – Mushrooms
(4:37:07) – Joe Rogan
(4:42:00) – Video games
(4:54:14) – Advice for young people
(4:57:23) – Meaning of life
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