Ouroboros Genesis is the latest version of the proof-of-stake consensus protocol of the Cardano blockchain. This video explains the research behind this innovative technology, analyzing both its motivation and ground-breaking advancement in the blockchain industry. The arrival of Genesis has huge implications for both proof-of-work and proof-of-stake systems. By utilizing a novel chain selection rule, for the first time nodes joining the Cardano network can safely bootstrap from the genesis block without any additional advice. This game changing feature was previously not possible in a proof-of-stake distributed ledger while being a hallmark of security in proof-of-work protocols. This breakthrough means Cardano can match the security guarantees of proof-of-work protocols like Bitcoin while retaining its clear energy efficiency, scalability and composability advantages. The research behind Ouroboros Genesis is significant as it solves a major problem in proof-of-stake that was previously thought impossible and presents a compelling case to why its the protocol of choice for future-proofing a blockchain system.
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Timestamps:
00:00 - Intro
01:05 - Background
01:48 - Setting the stage
02:44 - Genesis overview
03:47 - Research paper
05:45 - The problem
06:39 - Bitcoin dynamic availability
08:00 - Combating malicious actors
09:41 - Motivation for Genesis
13:11 - Bootstrapping from Genesis
14:37 - The Ouroboros Genesis solution
19:30 - Genesis inbound
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*Sources/Links mentioned:
Ouroboros Genesis research paper: [ Ссылка ]
IOHK Ouroboros Genesis presentation: [ Ссылка ]
The Bitcoin Backbone Protocol: [ Ссылка ]
Ouroboros Genesis update: [ Ссылка ]
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Disclaimer: This Video is NOT financial advice, all topics discussed are my personal opinions or information obtained from my own research. Always DYOR (Do your own research)
