“Proof of History” — Rethinking Consensus on the Blockchain

Published on
August 18th, 2021
58 minutes

Software Solutions to Rein in the Complexities of the Blockchain

“Proof of History” — Rethinking Consensus on the Blockchain

Featuring Eric Kryski and Anatoly Yakovenko

Published on: August 18th, 2021 • Duration: 58 minutes

Anatoly Yakovenko, CEO and co-founder of Solana, joins Eric Kryski, CEO and co-founder of Bidali, to expound upon the inner workings of Solana, an Ethereum competitor solving for speed and scalability. Yakovenko shares the unexpected journey of how the Solana team came to be and the non-trivial task of developing an entirely new consensus algorithm to differentiate it from typical Proof of Stake chains at the time. Yakovenko and the team pioneered "Proof of History", which involves cryptographic timestamps to accompany each transaction and can be verified internally by the Solana network. This method is combined with Proof of Stake to boost efficiency as well as security. Filmed on August 9, 2021.