What is your opinion on directed acyclic graphs (DAGs) and whether they can achieve the same level of decentralisation, security, and censorship resistance? DAGs are not vaporware, but the cryptocurrency projects using them mostly employ proof-of-stake (PoS) or proof-of-authority consensus mechanisms, which cannot be compared to proof-of-work (PoW) yet because they have not been tested at the same scale. PoW in Bitcoin, with a thermodynamic cost, will be hard to replace. Even though IOTA employs a PoW-type mechanism, they technically use proof-of-authority because IOTA is currently reliant on one special “Coordinator” node, run by their Foundation, to verify all transactions; if they were to shut it off today, we have no idea whether the other ‘sub nodes’ would be able to maintain its current level of security. We can begin to make real comparisons once it is no longer centralised.

This is a question from the patron-only live Q&A which took place on January 27th 2018. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

Altcoins and the scaling debate – https://youtu.be/slbpdW-H3yk
Do altcoins threaten to replace bitcoin? – https://youtu.be/w-V_5EWyU5c
The Scaling Rites of Passage – https://youtu.be/rZi86_ovB3Y
Scaling, trust, and trade-offs – https://youtu.be/vCxmHwqyJWU
Scaling complex systems – https://youtu.be/dm9m1oQr6Ks
Governance trade-offs in decentralised systems – https://youtu.be/dtwaW79Fj7c
Governance and the transaction fee market – https://youtu.be/gdknUUVOdHU
Unstoppable code – https://youtu.be/AQx3E3F8Kz4
We all started as critics – https://youtu.be/-jvefuVRwYA
Why running a node is important – https://youtu.be/oX0Yrv-6jVs
The new experimental science of consensus algorithms – https://youtu.be/6N5XlU7Iajk
Security in proof-of-work vs. proof-of-stake – https://youtu.be/dstjlfW4-g8
Proof-of-Work (PoW), Proof-of-Stake (PoS), Delegated Proof-of-Stake (DPoS) – https://youtu.be/3W_3AQrQEOM
Consensus with decentralized oracles and real-world variables – https://youtu.be/8bYmK6sZL00
Intrinsic vs. extrinsic assets – https://youtu.be/KDtfFNZy9xg
What is mining? – https://youtu.be/t4p4iMqmxbQ
Energy consumption – https://youtu.be/2T0OUIW89II
Solar energy and mining in space – https://youtu.be/cusakcpa8AM
What is the biggest threat? – https://youtu.be/1-XUbH1F0Os
Immutability and Proof-of-Work: The Planetary Scale Digital Monument – https://youtu.be/rsLrJp6cLf4
Bitcoin: “Failing to Scale” – https://youtu.be/bFOFqNKKns0
Ethereum, ICOs, and Rocket Science – https://youtu.be/OWI5-AVndgk
The Lion and the Shark: Divergent Evolution in Cryptocurrency – https://youtu.be/d0x6CtD8iq4

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

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