Category: Digital Infrastructure & Platforms
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The story behind the picture of Nick Szabo with other Bitcoin researchers and developers
Reddit seems to have discovered this picture of a group of 20 Bitcoin people having dinner, and the community seems intrigued by Nick Szabo’s public presence. It’s actually an old picture, from March 2014. I was the chief instigator of that event, so let me tell the story of how that amazing group of people happened…
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Bitcoin faces a crossroads, needs an effective decision-making process
Joint post with Andrew Miller. Virtually unknown outside the Bitcoin community, a debate is raging about whether or not to increase the maximum size of Bitcoin blocks. Blocks are created in Bitcoin roughly once every ten minutes and are currently limited to a size of 1 megabyte, putting a limit on the rate at which…
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Bitcoin is a game within a game
In this series on Bitcoin and game theory, I’ve argued that Bitcoin’s stability is fundamentally a game-theoretic proposition and shown how we’ve had blind spots for years in our theoretical understanding of mining strategy. In this post, I’ll get to the question of the discrepancy between theory and practice. As I pointed out, even though…
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Where is Internet Congestion Occurring?
In my post last week, I explained how Netflix traffic was experiencing congestion along end-to-end paths to broadband Internet subscribers, and how the resulting congestion was slowing down traffic to many Internet destinations. Although Netflix and Comcast ultimately mitigated this particular congestion episode by connecting directly to one another in a contractual arrangement known as paid peering,…
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Bitcoin and game theory: we’re still scratching the surface
In an earlier post I argued why Bitcoin’s stability is fundamentally a game-theoretic proposition, and ended with some questions: Can we effectively model the system with all its interacting components in the language of strategies and payoff-maximization? Is the resulting model tractable — can we analyze it mathematically or using simulations? And most importantly, do…
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Why Your Netflix Traffic is Slow, and Why the Open Internet Order Won't (Necessarily) Make It Faster
The FCC recently released the Open Internet Order, which has much to say about “net neutrality” whether (and in what circumstances) an Internet service provider is permitted to prioritize traffic. I’ll leave more detailed thoughts on the order itself to future posts; in this post, I would like to clarify what seems to be a…
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Threshold signatures for Bitcoin wallets are finally here
Today we are pleased to release our paper presenting a new ECDSA threshold signature scheme that is particularly well-suited for securing Bitcoin wallets. We teamed up with cryptographer Rosario Gennaro to build this scheme. Threshold signatures can be thought of as “stealth multi-signatures.”
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Nine awesome Bitcoin projects at Princeton
As promised, here are the final project presentations from the Bitcoin and cryptocurrency technologies class I taught at Princeton. I encouraged students to build something real, rather than toy class projects, and they delivered. I hope you’ll find these presentations interesting and educational, and that you build on the work presented here (I’ve linked to the projects…
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Sign up now for the Bitcoin and cryptocurrency technologies online course
At Princeton I taught a course on Bitcoin and cryptocurrency technologies during the semester that just ended. Joe Bonneau unofficially co-taught it with me. Based on student feedback and what we accomplished in the course, it was extremely successful. Next week I’ll post videos of all the final project presentations. The course was based on…
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Shaping Wi-Fi’s future: the wireless-mobile convergence
According to recent news, Comcast is being sued because it is taking advantage of users’ resources to build up its own nationwide Wi-Fi network. Since mid-2013 the company has been updating consumers’ routers by installing new firmware that makes the router partially devoted to the “home-user” network and partially devoted to the “mobile-user” network (a…