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Decred's Jake Yocom-Piatt: Cutting the Head off the Snake

  • Alley 10 Ware Street Cambridge, MA, 02138 United States (map)

About the Event

Hosted by the Cambridge Blockchain Meetup.

Our presenter in April will be Jake Yocom-Piatt (far left), team lead at Decred, a cryptocurrency based on a the btcd client of Bitcoin and a whitepaper titled “Memcoin2: a hybrid proof-of-work, proof-of-stake-based cryptocurrency.”

Unlike other altcoins, Decred has made substantial tweaks to the original bitcoin code to “right the ship,” as Jake says. A core operating principle of Decred is that having any type of central point of control or influence goes against what a decentralized cryptocurrency is all about. In other words, everyone should be able contribute to the future direction of the project and no core entity or group should have undue influence.

Jake will be talking about how a hybrid consensus system gives voice to the coin holders of the system. He will also talk about how Decred is planning to turn its development funds into a decentralized autonomous organization (DAO) thus handing over a current value of $28 million in funds to the stakeholders themselves.

This technical presentation will include an abridged summary of bitcoin, a deep dive into hybrid PoW/PoS, gamification of timestamping, open governance and what it takes to create a stakeholder-driven DAO.

BACKGROUND READING

Decred Sets Its Sights on Decentralization in 2018
https://bitcoinmagazine.com/articles/decred-sets-its-sights-decentralization-2018/

Memcoin2 Whitepaper
https://mc2.xwebnetwork.com/storage/mc2_0.05.pdf

AGENDA

7:00-7:30PM - Networking and settling in
7:30-8:30PM - Presentation followed by Q&A
9:00-11:00PM - Late night discussions at a local bar (TBA)

(Note: We are starting 30 minutes later than usual. There is an event right before us. If you arrive before 7PM, you may have to wait outside for a bit.)