How To Build Third Generation Blockchains - Charles Hoskinson @ TOKEN2049
Join Charles Hoskinson, founder of IOHK and pioneer in blockchain technology, as he unravels the complexities of third-generation blockchains at TOKEN2049. This engaging conference talk delves deep into the evolution of cryptocurrencies, illustrating how each generation has addressed critical issues and paving the road for future advancements.
Hoskinson begins with a retrospective on the pivotal role of Bitcoin and its revolution of consensus-based currencies. He then transitions to the second-generation developments, notably Ethereum, which introduced smart contracts and programmable money. However, despite these advances, scalability, interoperability, and sustainability remain challenges yet to be fully resolved.
The heart of the presentation focuses on third-generation blockchains and their potential to revolutionize the financial ecosystem for billions of unbanked and underprivileged individuals worldwide. Hoskinson explains the importance of creating scalable systems that increase in efficiency as more users participate, drawing parallels with established protocols like BitTorrent. Furthermore, he discusses the significance of interoperability between numerous existing blockchain platforms to unify and enhance their functionality.
Sustainability, particularly in governance and decentralization, is highlighted as a crucial pillar. Hoskinson stresses the need for blockchain-based systems that are governed with democratic consent, empowering users with direct voting mechanisms on funding proposals and protocol upgrades.
With research-driven insights from IOHK, including contributions to Ethereum Classic and the innovative Cardano project written in Haskell, Hoskinson shares a vision of a transparent, inclusive financial system. This talk empowers audiences to rethink and reimagine the possibilities unlocked by third-generation blockchains.
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