 To all order to stand here But let's talk about the future about blockchain, which is the next killer app for cryptography. Where is the thing here? So you all heard about blockchain what it does and what it Shouldn't do what it does and what it does not do Blockchain has several forms in both forms the one that is public permission less than the other one that is more as a Consortium blockchain actually is about synchronizing state on multiple different nodes in the distributed system that where there is no perfect information Between them so it's about protocols and as a characterized here As a ledger which is this data structure that is like to be depicted where Satoshi notes all the bitcoins that have been spent to whom The problem is fundamentally about Synchronizing these ledgers with each other because we have too many of them So blockchain is just a protocol to emulate such a ledger together. So we need cryptography and that's good We need protocols this is even is it also good and to get cryptographic protocols, which is a topic that I really like now in this World here. You have certainly Also heard what I already mentioned that there are multiple kinds of consensus In the and multiple types of protocols in the blockchain world. There is the public Proof of work style Consensus which is called a permission less system because everybody can simply join Because you do not need to get an identity first where and this was one of the features that Satoshi introduced to this Study of protocols because everybody else studying consensus protocols before has just assumed Mathematically there are n nodes and we can enumerate them Anyway, that what get that's but that's gave only that gave also more interest again to those classical protocols and Both of families of protocols have the same problem. Namely, how do they scale? How can they scale that has led actually to a lot of interest in this question? And you see the another exponentially increasing curve here, which is the Bitcoin price Which is proportional to all the hype that is Generated about this. Yeah, so and a lot of it has to do with cryptography and protocols and a lot of a lot Have of it has also to do with just the fact that there is money connected to it Everybody can think about it and talk about it now There is even consensus is a There is a trade show called consensus where you can pay thousands of dollars to go listen to other people who also pay Thousands of dollars to talk about consensus, but I would not be sure that anybody has seen a definition of consensus there There is also 200 million raised in just Two weeks or something by these ICOs is one of the most famous that got 200 million Just the other day Or the other week back in July now this Should some people here who have been around in the 90s like me Remind about certain things that were going on in the 90s. Namely this is hype there is all these things about systems and claims being made and There's some of those things didn't really hold water when we looked at them later So back then and Bruce Schneier was very vocal in Putting lists and writing about them to get about these together There were a lot of people proposing their snake or crypto schemes. Yeah, and The problem of course is that good cryptography looks just like bad cryptography and Protocols that should withstand an adversary in a distributed network. That's just the same thing So this was actually going before we can read some of the characteristics here of snake oil warning signs That have to do with tech oops goes fast techno babble secret algorithms claims of unbreakability and so on and so Here is a random list and don't take it personally if your things show up of such Consensors protocols that have been that I've just found last night So good good cryptography as we know nowadays requires all of those things that are written here Namely careful study proofs and analysis formal models and where do we send me blockchain? Consensus today, so there is one that says the first performant Blockchain and its scales a breakthrough in distributed systems And here it says even more about rock solid security and so on and then we try to look at the details And you found the thing in your little yellow yellow there a proprietary consensus protocol called scalable consensus They don't tell us how it works. Okay There is something here that looks like a tangle. It's called the tangle. It shows up in something called iota It's a generalization of the blockchain because it's a DAC. It's a So it must be more performant because it has more things going on parallel. Yeah Whether it's consistent or not we don't know yeah, because there is no actual analysis on this This is actually great call for research also on these topics. Yeah, there is the blockchain technology behind the Sun Which is not related to eclipse, but there is some coin here There's based on the sky ledger blockchain obviously and then you dig deeper you try to find out where this is and You find that at sky coin comes in the sky blockchain There is a button that you can donate here to the to the to the ICO But it's again real evolutionary and Bitcoin is not since Bitcoin is no longer decentralized reading your last line six sky coins consensus algorithm is Designed to achieve truth to decentralization what Satoshi did not achieve apparently Yeah, you dig deeper you find out that the sky join actually as a sky coin Comes from a white paper of which I can only read half and I had to stop And there is the hashgraph consensus by swirls which is another one of these generalizations from a chain to a dog Which we know should be possible But then you look at in the middle you say the hashgraph can so the swirls hashgraph is radically different approach to distribute consensus The hashgraph can resolve scaling in security issues Instantaneously these things this at least comes as a white paper And the white papers are nowadays all written in lot of so you can actually no longer tell whether white papers make sense And like in the 90s where a lot less white papers that were made sense were written in latte Yeah, though models proofs Form analysis study that should all be done It's not being done today one more Clarity we have a report on archive where we compare some of those that they actually could read and understand You'll see also some question mark on that table there This is related to our effort with colleagues and IBM Zurich on some blockchain protocol Platform called hyperledger fabric. This is something that's here towards enterprise use It's something that we have been part of it at Zurich research from the start And that's why we did not invent a new consensus algorithm We just made sure that the right ones and truth and tried ones are in implemented Yes, and that's it and that's gonna be a workshop on this and yeah, yes