Chapter
The Importance of Scalability in Transactions
17:49 - 24:49 (07:00)
As the number of people involved in transactions increases, there is a need for scalability in order to save billions of people at any point in time. Scalability involves supporting fast and secure transactions and inspection for validity in order to meet the growing demand for interaction between individuals.
Clips
The value of money and cryptocurrency is not only determined by scarcity and physical proof, but also by the shared belief of its worth within a society.
17:49 - 20:13 (02:23)
Summary
The value of money and cryptocurrency is not only determined by scarcity and physical proof, but also by the shared belief of its worth within a society.
ChapterThe Importance of Scalability in Transactions
Episode#168 – Silvio Micali: Cryptocurrency, Blockchain, Algorand, Bitcoin, and Ethereum
PodcastLex Fridman Podcast
The speed, writing, sharing, and inspection for validity are the key factors of blockchain scalability that can support interactive transactions with billions of people worldwide.
20:13 - 24:49 (04:36)
Summary
The speed, writing, sharing, and inspection for validity are the key factors of blockchain scalability that can support interactive transactions with billions of people worldwide. Blockchain's decentralized infrastructure enables everybody to write on the ledger pages, share, and read them at any time.