Home Altcoins News Cryptographic Sortition the Secret Sauce of Algorand (ALGO) Per Silvio Micali

Cryptographic Sortition the Secret Sauce of Algorand (ALGO) Per Silvio Micali

algorand
  • Algorand MainNet Metrics Dashboard to understand Adoption
  • Office Hour Sessions for developers
  • Combination of encryption with economic models
  • Cryptographic sortition as Secret Sauce for success

A real-time perspective on Algorand’s high performance in terms of current scale, speed, and decentralization will serve as real-time evidence for the growing usage of the network. This will also serve as a testimonial to how solid a project Algorand is.

Anytime prospective onlookers who are curious can check Algorand MainNet Metrics Dashboard to understand the adoption of the open-source protocol. The metrics are updated on a per-block basis. Therefore, anytime the metrics provide users will a real-time perspective about the high performance and ongoing adoption statistics of the network.

The Developer Documentation provides a clear insight into setting up the environment and sending the first transaction. Developers can choose from JavaScript, Python, Java, and Go to Build for the applications. In-depth how-to explanations for core Algorand Features are available.  Installing, configuring, and running a node happens quickly.

Those who are ready to build in Algorand will benefit from the “Office Hours” sessions. Algorand is focused on providing all the help developers will need to enable excellent FutureFi Services.

In particular, Forbes Crypto pointed to how Algorand combines encryption with economic models to create efficient and secure blockchain systems.

Silvio Micali, Founder of Algorand, talking to Forbes, expressed:  “The traditional application of cryptography to a blockchain is to prevent an adversary from altering the content of a block or the order of blocks. But in Algorand, we use it for doing what we call cryptographic sortition: we select an unpredictable committee (to add blocks to the network) whose members are not known until they show up with proof that they belong to the committee. That is the secret sauce of Algorand, which allows us to be very scalable and very distributed. In some sense, this is a use of cryptography because even though I am running my lottery (forming the committee members), I cannot cheat. I cannot alter the probability of winning. And if I win, I can prove to you that I’m a legitimate winner of my lottery.”

Cryptographic sortition as an application for cryptography permits Algorand to convene a committee unpredictably. It is not possible to somehow control the committee members or know in advance who they are going to be.

Several blockchains propose the blocks using a round-robin: participants take turns, and an adversary knows in advance about who will be generating the next block eventually might attack. However, suppose the new block generation is entrusted to a few committee members of just a few hundred or a thousand. In that case, nobody will know who they are because they are the winners of the private individual lotteries.  Therefore, an adversary cannot go after them in advance. The sooner these people show up and say, “I won the lottery,” it is believable as they are real winners. Nobody will alter the probability of winning or pretend to have won when they have lost.

 

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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