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6 Ethereal Questions Answered: Interview w/ Ethereum Dev Taylor Gerring

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1) What is Ethereum's vision, and is it dependent upon other networks? 2) Why the upcoming switch from Proof-of-Work to Proof-of-Stake? 3) What is 'gas' in Ethereum? 4)Does Ethereum have a blocksize cap? 5) What is the governance model of Ethereum? 6) How is Ethereum development funded? Check out our new channel! http://youtube.com/dashorg Connect with us! [website] http://TheDailyDecrypt.com [tweets] http://Twitter.com/TheDailyDecrypt [facebook] http://Facebook.com/TheDailyDecrypt Wanna sponsor a show? http://TheDailyDecrypt.com/Sponsorship Sponsor: Crypto Cloud Hosting: http://cryptocloudhosting.org Sponsored Shout-Out: Free Press Publications: http://fpp.cc Show links: Ethereum homepage: http://ethereum.org Taylor Gerring homepage: http://taylorgerring.com Coin analysis: https://www.cryptocompare.com/coins/eth/overview Music: 'Walk On The Wild Side' by Lou Reed: https://www.youtube.com/watch?v=0KaWSOlASWc Contact us: http://TheDailyDecrypt.com/Contact Tip us! See our addresses for Bitcoin, BitcoinDark, Bitshares, Dash, Dogecoin, Ethereum, Litecoin, Monero, Neucoin, Nubits, Nxt, Peercoin & more at http://TheDailyDecrypt.com/Tip-Us ProTip ready: 1u9ZrWbVFkaYJ89VL3ynarQb5HUKW7zKB
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Text Comments (69)
David Provost (10 months ago)
Understood this perfectly. One of the smartest things I've seen in a while. Its a pretty amazing idea: to store currency ( that which we hold as valuable ) within a digital asset ( such as a website like amazon or ebay or google ). <--- key word "LIKE" :: but instead of all the data, rules and such being dictated by a single body ( such as a corporation like google ), the digital asset ( such a gmail service ) is secured by the very money that has been invested into it. And not only on a public service scale, but privately as well. Say you own a business, or rather you are a book writer and you sell your books, perhaps on your website or a type of community bookstore website. Insurance that your book can be sold ( such as the website staying online and processing payments ) is secured by crypto coins. So instead of paying a web developer to build your site and host your store, or worse paying a big company with 1000's of clients they could care less about to build your store, instead you invest in the coin hosting the service selling your book. ... atleast thats how I understood it. And if I'm correct then this will decentralize things ( a good thing )... but I don't see how it can exactly keep a copy of virtual everything ( content ) to live on the web... ( because if you stop selling books per above example, then you sell your coins and no more sell books.... )
TJ (1 year ago)
good work
James McLain (1 year ago)
The concept of "programs that cannot be shut down", scares the hell out of me. What if malware were written, added to the block chain, programmed to wait until it was deeply embedded and then unleash to say: "Attack electrically grids, or airline servers"? You seem to be saying that such a program could not be stopped. What if the creator was rich, and gave his evil code plenty of "gas". How could it be stopped? Are there any safeguards in place to prevent malware programs from being added to the chain? It seems like the Etherium network is currently opened to anybody who wants to write anything.
Rami Adel (1 year ago)
PoS=ETH death IMHO
souncivilized (2 years ago)
what is the shiny pipe behind you
Bilal Haider (2 years ago)
i have a friend, he mined about, 100 ethers. when he trys to make a transaction it won't get executed. what would it need to fill in that command which sends ethers to another account.?
Lee Southard (2 years ago)
I like ether...cus the price went up....but I don't know what to do with it.....with bitcoin I can gamble, bet on sports and elections, invest, buy games, etc - what can I do with ether? I'm really curious not being troll.
I think Blackcoin started as proof of work then switched to proof of stake, it would be cool to see you interview david zimbeck  I just found your channel and I love it. thanks
Chris Moore (2 years ago)
+TruckTalk180 I think most PoS coins started as PoW to create the initial money supply. CLAM did for sure.
AprendaFacil (2 years ago)
Great Interview, I have a question about smart contract. I heard smart contract is able to remove coins from a node wallet in silency mode as part of automation , as part of contract rules. The question is: What guarantee people will have the address of wallet informed by any payer node is really his/her corrrect address ? what happen if any node decide to lie by informing a random address just to avoid any automatic debit? once every wallet is anonymous. tks
T diiy (2 years ago)
Whats that shiny pipe behind you for?
Lyin'g King (2 years ago)
damn! you're hot
BITCONNECT VILLAGE (2 years ago)
Super Question for Super Answers!
Bijan Fletcher (2 years ago)
VELVET UDNERGROUND
Danilo BF (2 years ago)
do you have a boyfriend?
Heikel Khaldi (2 years ago)
+Danilo Bertagnon Fernandes I am not sure if she does or not but I think she is taking applications lol:)
Sebastian Sjöberg (2 years ago)
Very informative, thank you for providing this. As a non-developer, this was most useful for getting a better grip on Ethereum. Keep it up!
prospero (2 years ago)
Totally fascinating to observe philosophy of governance, decentralizing tech, with a system of reward to marry into the operation of a currency and contract......mind blowing the many social aspects brought to bear philosophically in concept to development.  Impressive how you process and anticipate.....I think you are a droid, or you used to captain a Pirate ship....(or both).....I am truly freaked out.
vaXzine (2 years ago)
ԼΞᏣìŤ
Pierre Barnard (2 years ago)
Great Amanda!
Brent Erickson (2 years ago)
Nice! I don't think many hosts have tried to understand and explain Ethereum before
motech man (2 years ago)
BitShares started out as a PoW based project with PTS, and learned many valuable lessons and pitfalls about financing a crypto project without being a centralized dictator. It's really hard to do! They then transitioned into the Angel shares model, and in 2014 arrived at the DPoS model, a unique governance model. So there is yet one more example of the innivations and forward thinking of the brainchild of BitShares, Daniel Larimer. You oughta reach out to him and schedule an interview! In a nutshell his ideology is NAP, Austrian economics and empowering individuals, so aside from blockchain tech you two would have much in common to talk about.
Amanda B. Johnson (2 years ago)
+motech man Thanks for this information. And yes, I'm aware of the merits of Bitshares' Daniel Larimer. I interviewed him last week, actually, but that was before I figured out Google Hangouts, and so the video recording didn't even work. As a result, I wrote the blog "I Don’t Buy Insurance — But If It Looked Like This, I Might," talking about our interview and Daniel's work: http://thedailydecrypt.com/i-dont-buy-insurance-but-if-it-looked-like-this-i-might/
Sammy Yeung (2 years ago)
If some apps that cannot be shut down if using IPFS, will the silk road (drug dealing website) be able to reloaded by using this technology without TOR? Could ISIS, terrorist and some criminals do something like share informations by using this technology? Why Amanda have HKSAR flag in the wall?
The pipe behind you, your masternode without noise nor hot, great!! you are the best Amanda, lots of love 4u!!
Amanda B. Johnson (2 years ago)
+Elias de Francisco Javaloyes I don't understand it, but i like it. thank you :)
Tomek Samcik (2 years ago)
Amanda !!! <3 :)
David de Kloet (2 years ago)
Hey Amanda, aren't you violating YouTube policy with your sponsorships? I don't have a problem with them, but it would be a shame if your business got in trouble because of it. https://support.google.com/youtube/answer/3364658?hl=en
David de Kloet (2 years ago)
OK, good. Thanks +Avatar X 
Avatar X (2 years ago)
+David de Kloet In their case it counts as product placement or content sponsorship which is fine, otherwise most of the Top 10% of youtube would not even be able to exist. The only rule they need to follow is to report that their videos are done that way via settings.  The policies you mention is for when people get their videos rewrapped when embedded off youtube and in turn add ads that were not put there by YouTube AdSense. Or when the in-video content emulates YouTube ads, but are instead encoded into the video.
David de Kloet (2 years ago)
+EQUALSMART wut?
EQUALSMART (2 years ago)
Cough cough.. Can we say hater! Go gain some more followers for your YouTube page.
Jonathan Speigner (2 years ago)
What would it take to add Ether to Coin.Space Wallet?
David de Kloet (2 years ago)
11:48 He really doesn't seem to understand how proof-of-work works. You can't build the block after finding the hash. The hash depends on the block. And the miner finding the block is not the only one validating the truth. Every full node in the network validates that the block that was created is valid. The problem with proof of stake is that it's not rooted in the real world. If at any point in time you had a majority stake, you can always go back in time and manufacture an alternate reality.
David de Kloet (2 years ago)
+Bruno Ricardo Ferreira a pool could just pretend to be 2 or more pools and avoid the penalty.
David de Kloet (2 years ago)
+The Daily Decrypt Great, I look forward to it.
Amanda B. Johnson (2 years ago)
+David de Kloet This is fascinating, thank you. You know, I believe Evan Duffield agrees with your estimation of Proof-of-Stake. We'll be publishing an interview with him within an hour, by the way.
David de Kloet (2 years ago)
+The Daily Decrypt in any blockchain, every block depends on all previously blocks. So if you want to change the record of history, you would have to not only change that one block in history, but also all following blocks. For proof of work, that means you would have to do all the work that all miners did since that one block again. And once you catch up, you'd have to outrun the longest chain. So this is possible with >50% of the mining power but even then it would take an enormous amount of computing power and time to catch up. For proof of stake, you could do the same thing with 51% of the stake (for example by cooperating with a number of wealthy individuals). Now, the big problem with proof of stake is that if you want to change something recorded in the past, it doesn't matter how much stake you have now (the system can't see that in the past); it matters how much stake you had at the point in time where you want to change the record. And that will never change. So if a group of people ever had a 51% stake, they will always have had that stake at that point in time, so they can always go back in time and recreate history from that point on. The reason for the difference between proof of work and proof of stake is that the work in proof of work is rooted in reality while the stake of proof of stake only exists inside the blockchain system itself. As far as I know all existing proof of stake system rely on some form of centralization in order not to be attack this way. I hope that made some sense.
Amanda B. Johnson (2 years ago)
+David de Kloet I'm not perfectly familiar with the nuances of the two mining types. Are you saying that in Proof of Stake, past blocks can feasibly be changed with enough 'stake', while in Proof of Work, they cannot? Would appreciate further information and/or resource links, thanks.
Craig Grant (2 years ago)
Taylor is very good at explaining stuff
Craig Grant (2 years ago)
This interview gave me a much better comprehension of what proof of stake is, and I like allot, for something that will be a world computer it's the best way to flow from a standpoint of scaleability
Erik van velzen (2 years ago)
BUY A BETTER CAMRA! AND MIC
Stewart Mcleod (2 years ago)
Hi Amanda, I am now using the Pro Tip plugin on my browser. So you should be getting weekly tips from me automatically. I have never used it before so I will be watching it closely.
Amanda B. Johnson (2 years ago)
+Stewart Mcleod Oh, that's great to hear! Thank you for the tips. :)
JZA (2 years ago)
Great video, I am not that into Ethereum mostly because of the fact that everyone else seem to be. This makes me usually look around for other lesser popular -- but innovative altcoins, like DASH, GridCoin, NuBits, StartCoin, MaidSafe, NXT, and Ripple.
JZA (2 years ago)
Exactly why I dont really want to get into all that. For something that still at this point vaporware. Is better to wait and see. Most other altcoins already have a track record and have been proven.  Nubits have been holding the 1 dollar peg for more than a year. NXT have hold an Asset Exchange for a while as well and it has been prospering and DASH is also blooming. MAIDSAFE as well have been evolving greatly. 
oknows2 (2 years ago)
+Jzarecta Interesting reasoning there..just fyi Ethereum isn't an altcoin. I'd say apples and oranges but I think the better analogy might be apples and /fruit bearing trees/.
Gary Hughes (2 years ago)
Looking forward to the next year :)
Embedded Thought (2 years ago)
Peercoin, the first implementation of Proof-of-Stake, is inherently a hybrid of both PoW and PoS.
cheezman111 (2 years ago)
Now I know what gas is! Also, why the Hong Kong flag?
Juan Galt Crypto TV (2 years ago)
You are killing it Amanda and Pete, gj. :)
Jorge M (2 years ago)
Great Taylor!
Paul Trahan (2 years ago)
Great episode! Also, the intro music is always great :D
Javier Salcedo (2 years ago)
Great interview! you are a great host Amanda
Liberty Warrior (2 years ago)
I think I got gas trying to understand this.
Amanda B. Johnson (2 years ago)
+Nicholas Zounis Ha! You so funny
Vlad Cealicu (2 years ago)
In terms of funding, you can read a recent post by Vitalik https://blog.ethereum.org/2016/01/07/2394/ . It discloses all the funds available and a few of the ways they will be spent.
Amanda B. Johnson (2 years ago)
+Vlad Cealicu Thanks for that information.
Vlad Cealicu (2 years ago)
Awesome video, thanks Amanda and Taylor. I think you should do interviews more often (well ... a few times a month). I would love to see Evan Duffield from DASH and other devs/creators of cryptocurrencies.
oknows2 (2 years ago)
+The Daily Decrypt Killin&#39; it. Subbed. :)
Cristiano G. (2 years ago)
+The Daily Decrypt How about Jed McCaleb? That would be an interesting interview ;)
Amanda B. Johnson (2 years ago)
+Vlad Cealicu I interviewed Evan Duffield 2 hours after I interviewed Taylor! So watch for that one within the coming week. :)
Lee Gordon Seebach (2 years ago)
Awesome, Amanda and Taylor! Thank you so much.
Amanda B. Johnson (2 years ago)
+Lee Gordon Seebach You're so welcome.
ausPPC (2 years ago)
Nice ep! Way to hit it outta the park. :D
Amanda B. Johnson (2 years ago)
+ausPPC Thanks, buddy.
Thomas Kirwan (2 years ago)
Definitely an interesting conversation.
Thomas Kirwan (2 years ago)
You are fantastic at asking questions. Also IPFS is such an awesome idea.
Amanda B. Johnson (2 years ago)
+Thomas Kirwan Ha ha, thanks!

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