Blockchains are a new settlement and ownership layer, one that’s programmable, open, and global by default, unlocking new forms of entrepreneurship, creativity, and infrastructure. Growth in monthly active crypto addresses is generally tracking the
Prediction markets are a hot topic again — even cartoon characters are talking about them (cf South Park). But beyond the buzz, what is a prediction market, exactly? How do they work, how are they designed, and what makes them work?
We answer all
A broad overview of approaches to proof-of-stake blockchain design with Valeria Nikolaenko (a16z crypto Research Partner). Valeria examines both longest-chain and BFT-style consensus protocols, compares them, and examines the variants used in real-world blockchains. She also examines other PoS designs, such as Algorand, Avalanche, and Solana. Valeria also covers leader-election strategies with the use of VRFs and VDFs, and discusses the space of possible attacks. Finally, she examines the consensus layer design of Ethereum.