Justin Shi: Blockchain, Cryptocurrency and the Achilles Heel in Software Developments

Justin Shi: Blockchain, Cryptocurrency and the Achilles Heel in Software Developments

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TUDev's Tech Talk with Professor Justin Shi of Temple University.

Abstract: Starting from anti-spam research, the blockchain protocol evolved into the basis of cryptocurrencies. Regardless controversies, to date, there are more than 10,000 Bitcoin nodes online. Every central bank has a research group studying how to exploit the protocol for secure financial applications. What has the blockchain protocol done that the last half century computer science development failed to deliver? This talk introduces the foundation of reliable and scale free computing and the Achilles Heel in current software development paradigms. This talk will also address the scaling limits of the blockchain protocol(s) and a brief outline of a potential solution.

Slides from the presentation are available on GitHub under the "Tech Talks" folder: https://github.com/ad17171717/YouTube-Tutorials

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------Video Chapters------
0:00 - Intro
1:21 - Money and Cryptocurrencies
3:24 - Fraud, Inflation and Economic Freedom
7:47 - Cryptocurrencies, NFTs and Web3
15:05 - Weakness in Legacy Software Infrastructure
26:43 - Blockchain protocol and anti-spam research
27:57 - Avoiding double spending of cryptocurrencies
33:33 - Avoiding centralized authority over cryptocurrencies
35:43 - Immutability of blockchain networks
43:28 - Difficulty of fault tolerant computing
48:19 - Public and private chains
53:59 - Regulatory challenges for cryptocurrencies
56:02 - Blockchain scaling challenges
58:21 - Scalability war (Proof of Work vs Proof of Stake)
1:02:21 - Ledger Partition
1:05:45 - Fintech Trends
1:08:36 - Lessons from the Past
1:13:49 - Current Research
1:15:14 - Future Research
1:19:56 - About the Professor Shi