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Upcoming events (2)
Lecture Series FS22 ——"Economic Implications of Scaling Blockchains".
Co-organized by UZH Blockchain Center, Trust Square, Dezentrum.
Speaker: Prof. Saleh Fahad (Wake Forest University)
Leading blockchains (e.g., Bitcoin and Ethereum) involve prohibitive transaction costs, and those costs serve as the primary impediment for their mainstream adoption. Conventional wisdom holds that increasing throughput (i.e., scaling blockchain) resolves the stated problem, but this paper establishes that the conventional wisdom is inaccurate for blockchains employing a Proof-of-Work protocol. More explicitly, for blockchains employing a Proof-of-Work protocol, we demonstrate that improvements in scale undermine security, and the reduction in security leads to lower adoption levels. In contrast, this paper also establishes that blockchains employing a Proof-of-Stake protocol do not face the referenced issue. In particular, for blockchains employing a Proof-of-Stake protocol, we demonstrate that an increase in scale enhances security, and the enhanced scale and security collectively imply an unambiguous increase in adoption levels.
Fahad Saleh is an Associate Professor of Finance and the Nunnenkamp-Cinelli Faculty Fellow at Wake Forest University. His research focuses on economic questions associated with blockchain and has been published in leading academic journals such as Management Science and the Review of Financial Studies. His research has also been presented at prominent policy institutions (e.g., Federal Reserve Bank of New York, Federal Reserve Bank of Atlanta, Federal Reserve Bank of Philadelphia, US Treasury Department) and elite universities (e.g., Wharton School of Business, NYU Stern). Moreover, his work has received several awards, including a competitive research grant from IBM Blockchain.
Fahad holds a PhD in Finance from New York University. He also holds graduate and undergraduate degrees, both in Operations Research Engineering, from Columbia University and Cornell University respectively.
-- Economic Implications of Scaling Blockchains: Why the Consensus Protocol Matters
18:00 - 18:05 Welcome
18:05 - 19:00 Lecture by Speaker
19:00 - 19:30 Q&A Session
19:30 - 20:00 e-Apéro
Seminar Series FS22 of UZH Blockchain Center——"DLT Network Risks".
Speaker: Asger Balle Pedersen
Where: Online via Zoom
Asger Balle Pedersen is a PhD Fellow in Business and IT Department and European Blockchain Center at IT University of Copenhagen.
Asger is a motivator, creator, leader and hard working. He has extended knowledge in project management and is always up for new challenges. The ability to address business needs in a very complex environment and to keep the focus on process and optimization, profit realization, along with the client demands, has been one of his most enhanced abilities as a consultant at Netcompany.
Asger was head of The Blockchain Center of Excellence at Netcompany Academy and a speaker, teacher, and presenter at various events.