Jason Teutsch is a mathematician (PhD) and computer scientist whose research focuses on distributed systems, security, game theory, and algorithmic randomness.
Jason is also the founder of TrueBit – a scalable verification solution for Blockchains.
In this episode, Jason and I discuss:
– The computational limitations of Ethereum smart contracts
– The definition of smart contract (hint: it’s not the same as a legal contract), gas, and the gas limit on Ethereum
– The “Verifier’s Dilemma,” a situation whereby Blockchain miners have little to no incentive to verify transactions (which is the problem TrueBit solves)
– Use cases for TrueBit, including LivePeer – a decentralized video streaming platform, AI, “Interactive ICOs,” and much more
[00:56] – Who is Jason Teutsch, and what is Truebit?
[04:51] – Jason’s journey to Bitcoin and Ethereum
[05:10] – Writing the paper on the Verifier’s Dilemma
[08:58] – Gas and the gas limit on the Ethereum Blockchain
[09:28] – What’s a smart contract?
[12:44] – Jason’s more accurate definition of gas and the gas limit
[13:46] – Ethereum’s computational limits
[17:00] – The 6-block Bitcoin fork of July 4th, 2015
[29:48] – Truebit vs. Amazon Cloud
[34:47] – LivePeer – a decentralized video streaming platform
[39:02] – Trent McConaghy, the Art Dao, and genetic algorithms
[44:00] – The Dogecoin Ethereum bridge, courtesy of Truebit
[49:37] – TrueBit and Numerai
[55:50] – Jason goes over his 10-year predictions for Bitcoin and Ethereum
[56:41] – Tragedy of the commons and the expiration of Bitcoin block rewards
[1:00:40] – How to contact the TrueBit team and get involved
[1:02:00] – The various TrueBit projects – Steak Network, SmartPool, Interactive Coin Offering protocol
[1:05:00] – Conclusion
– SNARK (Succinct Non-interactive ARgument of Knowledge)
– The “Verifier’s Dilemma” – Demystifying Incentives in the Consensus Computer (why you need a gas limit)
– What is the Ethereum gas limit?
– Bitcoin fork on July 4th, 2015
– The ArtDAO
– On the instability of Bitcoin without block rewards
– Bitcoin Tragedy of the commons
– TrueBit website
– TrueBit GitHub, Reddit, Medium, Twitter, Facebook, and YouTube