In this video, Prof. Aggelos Kiayias presents Ouroboros PoS research, protocol design, stake pools incentives, and sidechains to the Cardano community in London at the Cardano meetup event.
The Ouroboros protocol stands out as the first proof of stake algorithm that is provably secure, meaning that it offers security guarantees that are mathematically proven. This is essential for a protocol that is intended to be used in cryptocurrency, an infrastructure that must be relied on to carry billions of dollars worth of value. In addition to security, if blockchains are going to become infrastructure for new financial systems they must be able to comfortably handle millions of users. The key to scaling up is proof of stake, a far more energy efficient and cost effective algorithm, and as such this research represents a significant step forward in cryptography. Ouroboros also has the distinction of being implemented – the protocol will be an integral part of Cardano, a blockchain system currently in development.
Prof Aggelos Kiayias is the Chair in Cyber Security and Privacy at the University of Edinburgh. His research interests are in computer security, information security, applied cryptography and foundations of cryptography with a particular emphasis in blockchain technologies and distributed systems, e-voting and secure multiparty protocols as well as privacy and identity management. He joins IOHK as chief scientist through a long-term consulting agreement between IOHK and the University of Edinburgh, UK, where he is based and continues to do research and teach courses in cyber security and cryptography. Prof Kiayias is also Professor in Residence (gratis) at the University of Connecticut, USA, and Associate Professor of Cryptography and Security (on leave) at the National and Kapodistrian University of Athens, Greece.
Prof Kiayias’s cyber security research over the years has been funded by the Horizon 2023 programme (EU), the European Research Council (EU), the General Secretariat for Research and Technology (Greece), the National Science Foundation (USA), the Department of Homeland Security (USA), and the National Institute of Standards and Technology (USA). He has received an ERC Starting Grant, a Marie Curie fellowship, an NSF Career Award, and a Fulbright Fellowship. He holds a Ph.D. from the City University of New York and he is a graduate of the Department of Mathematics at the University of Athens. He has more than 100 publications in journals and conference proceedings in the area.
https://iohk.io/team/aggelos-kiayias/
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