Mathieu Baudet, an expert in decentralized consensus protocols and blockchain technology, delves into the intricate world of Bitcoin and Byzantine fault-tolerant systems. He explains Bitcoin’s unique approach that prioritizes decentralization over safety, allowing for interesting outcomes like forks. The discussion also highlights the energy costs of Bitcoin mining and compares traditional crash-resistant protocols to more complex BFT models. Lastly, Mathieu examines innovations in payment protocols and practical applications like Fastpay and Linera, addressing scalability challenges in blockchain.