Fan Long: The Problem with PoS, Conflux and the Chinese Crypto Environment

My guest today is Fan Long, co-founder of Conflux, founder and president of Tree-Graph Blockchain Research Institute and currently an Assistant Professor at University of Toronto. Conflux is a next generation blockchain protocol with a focus on scalability, security and extensibility. Fan holds a Ph.D in Computer Science from MIT. His research interests included systems security, programming language, and blockchain. He was awarded the ACM SIGSOFT Outstanding Dissertation Award and MIT Best Dissertation Award for his work in Automatic patch generation, which is focused on creating software that promises to automatically correct software defects without the need for developers.He was also a competitive programmer, winning two gold medals in the International Olympiad of Informatics (2005, 2006). Our conversation covers the origins of bitcoin and blockchain with an emphasis on comparing bitcoin and blockchain to previous distributed system networks and how they attempted to solve the Byzantine Generals Problem, we also compare and contrast the differences between the proof-of-work (PoW) and proof-of-stake (PoS), the current crypto environment in China and what it’s like running a Crypto Company in China and his work at Conflux, and which country fears Bitcoin becomes the world reserve currency the most.–––Coingaming was formed when one Australian professional poker player, who knew first-hand the importance of fun, fast and fair gaming, met two Estonian tech whizzes who just so happened to be vanguards of Bitcoin. From there, Coingaming’s ecosystem of brands and products evolved, breathing new life into the gaming industry.Now with 400+ people, Coingaming is behind some of the world’s most innovative crypto gaming brands and is on a mission to further awareness of cryptocurrencies across the globe.–––PermissionPermission.io enables people to earn rewards for doing the same things online they do every day by empowering them to take back ownership of their personal data from Silicon Valley startups. People can now decide which brands and online retailers can target them with ads, and use the rewards earned for viewing them to pay for goods and services available online. Go to www.permission.io/charlie for a sign up bonus.–––BITTREX GLOBALDEFI TOKENS from BITTREX GLOBAL. Bittrex Global is offering all of Charlie's listeners the ability to trade DeFi tokens without paying trading or gas fees through the end of 2020. Bittrex Global is the safest and most secure place for you to trade DeFi tokens like Compound, Aave, Balancer and all of the rest of the top tokens. Please visit https://global.bittrex.com/discover/defi to get free trades and no gas fees now.–––This podcast is powered by BlockWorks Group. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at https://blockworksgroup.io Thank you for listening to The Charlie Shrem Show. For more free content and access to over 400 episodes, visit www.CharlieShrem.com. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.