Published on: June 7th, 2021 • Duration: 54 minutes
Santiago Velez, entrepreneur and digital asset investor for Block Digital Corporation & AD, Inc, welcomes Emin Gün Sirer, CEO & founder of Ava Labs, Inc., to discuss his journey into crypto, the creation of the Avalanche protocol, and the future of the blockchain ecosystem. Sirer explains different consensus protocols and their uses within advanced blockchain systems. Specifically, he argues that the Avalanche protocol, created by Ava Labs, is faster and more efficient than classic and Nakamoto protocols because it is easily scalable and requires less energy than Bitcoin mining. Aiming for Avalanche to digitize the world’s assets, Sirer believes that it can accomplish this as it is a faster, environmentally friendly protocol, providing flexibility for virtual machines and improved control over the network. Filmed on June 2, 2021.
Sirer explains the benefits of the Avalanche protocol and how it functions to make decisions. Unlike mining and voting from other protocols, Avalanche benefits from repeated subsample voting. This makes the network more robust as many participants are involved in the decision-making process, guaranteeing the veracity of the network's decision. These aspects also allow Avalanche to act as a payment and settlement system.