This is the year the world came onchain.
When we launched our first State of Crypto report, the industry was still in its adolescence. The total crypto market was worth about half what it is today. Blockchains were much slower, more expensive, and le
Each year, the State of Crypto report from a16z crypto cuts through the noise and tracks crypto’s evolution across markets, technology, policy, and culture.
Now in its fourth edition, the 2025 State of Crypto report reveals how crypto has gone ma
Traditional blockchains use consensus to sequence and execute transactions. More recent blockchain proposals use broadcast, a weaker, more scalable, and lower latency primitive. But broadcast is limited in terms of expressiveness, and system maintenance operations require (or at least are simpler) given the stronger guarantees provided by consensus. George Danezis (UCL, MystenLabs) presents both paradigms, and describes how to combine them in a single system to get both low-latency for important categories of transactions, as well as the full expressiveness of consensus in general. Safety and liveness become tricky because the two paradigms have to be combined consistently, and the broadcast-based paths need to provide robust guarantees upon reconfiguration, which relies on consensus.
About the speaker
George is a Professor of Security and Privacy Engineering at University College London and Chief Scientist at MystenLabs. His current research interests focus on secure communications, high-integrity systems to support privacy, blockchains, and decentralization, as well as the application of machine learning techniques to security problems. He has published over 100 peer-reviewed scientific papers, co-founded chainspace.io in 2018, and co-founded MystenLabs in 2021. He has previously been a Researcher for Microsoft Research, Cambridge; and a visiting fellow at K.U.Leuven (Belgium) and the University of Cambridge (UK).
About a16z crypto research
a16z crypto research is a multidisciplinary lab that works closely with our portfolio companies and others toward solving the important problems in the space, and toward advancing the science and technology of the next generation of the internet.