Genaro Takes the Stage and Makes New Fans at Distributed 2018
July 19, 10:50 am, Pacific Standard Time — The Genaro Network’s Larry Liu appeared on a panel to discuss ‘Consensus Algorithms’ at ‘Distributed 2018’ conference. Cofounder and CTO Waylon Wu and other team members also attended to run a booth at the two-day event, which took place on Thursday and Friday in San Francisco. Larry appeared onstage with Tyler Evans of BTC Inc., Jae Kwon of Tendermint and Mahnush Movahedi of DFINITY, making the session a get-together of significant talents from the Asian and American blockchain scenes.
The express purpose of ‘Distributed’ is to bridge the gap “between Eastern and Western Blockchain initiatives” and promote the global decentralized ecosystem. Also appearing at the conference were early pioneers of digital currencies such as David Chaum and Mathew Roszak, the founder of Bloq and member of Genaro’s advisory board, Du Yu, the Director of Wanxiang Blockchain Labs, Sam Cassatt and Amanda Gutterman of Consensys, and many more.
During the consensus discussion panelists were asked general and targeted questions, from “Why is a consensus algorithm choice so important for a blockchain project?” to “How does DFINITY’s consensus differ from Algorand?” and “What is Sentinel proof of retrievability?” Larry gave responses to the main as well as the Genaro-specific questions, explaining in particular how Genaro’s development team focused on issues like scalability, attack vulnerabilities in PoS and making consensus processes environmentally sustainable.
For instance, in response to the question, “What are the main considerations when deciding which consensus algorithm to use?” Larry stated that while PoW was indeed a “great” idea, the excessive power needed to maintain it was not acceptable. He added that in Genaro’s solution, SPoR is a “type of useful computation. [it] has been used in cloud storage for years and the difficulty will not increase over time. We use the SPoR… to secure PoS in a sustainable way.”
Interview with BTC media
On the topic of scalability, Larry mentioned the “decentralization, security and scalability” problem, or so-called “trilemma”. He argued that each project should assess which area in which to make considered sacrifices for the sake of scaling, with the example of EOS’s DPoS as a structure “sacrificing decentralization and security” for efficiency, and Genaro’s node selection also reducing decentralization but adding storage and security strength at the same time.
Overall the two days of Distributed brought a valuable set of opportunities, including meetings with familiar faces such as Ken You of Genaro partner U Network, and countless welcome introductions around Genaro’s busy stand
Genaro’s latest versions, Genaro Eden and Genaro Eden Sharer, will allow you to store your files in a more secure way and share your unused storage to earn GNX. To download Genaro Eden and begin storing and sharing, follow this link: https://genaro.network/en/genaro_eden/
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About Genaro Network
The Genaro Network is the first smart data ecosystem with a Dual-Strata Architecture, integrating a public blockchain with decentralized storage. Genaro pioneered the combination of SPoR (Sentinel Proof of Retrievability) with PoS (Proof of Stake) to form a new consensus mechanism, ensuring stronger performance, better security and a more sustainable blockchain infrastructure. Genaro provides developers with a one-stop platform to deploy smart contracts and store the data needed by DAPPs simultaneously. Genaro Network’s mission is to ensure the secure migration of the core Internet infrastructure to the blockchain.
