Software Engineering Daily

The Interplanetary File System (IPFS) is a decentralized global, peer-to-peer file system. IPFS combines ideas from BitTorrent, Git, and Bitcoin, creating a new way to store and access objects across the Internet. When you access an object on almost any website, you are accessing the object via a location address—a URL. The URL tells you where to find the object. If the object is a photo on Facebo...

The Ethereum community started as a small group of dedicated engineers. It has ballooned to thousands of engineers, entrepreneurs and investors, all of whom have a stake in the direction of Ethereum. Ethereum is an open source project, and the direction of a popular open source project can get complex. Ethereum is figuring out how to govern itself. It’s not clear what the perfect model is, but the...

The pubsub pattern allows a developer to create channels, which messages can be written to and read from. Pubsub messaging is useful for multicast messaging–when you want to publish messages from a producer, and have multiple consumers who are subscribed to the publisher receive those messages. Almost any application that reaches a high level of complexity will need a pubsub system of some kind. T...

Most technology companies rely on open source software projects. But open source software projects are often maintained by a group of people that is not affiliated with any particular company. When an open source project develops too much technical debt, it can become a tragedy of the commons. Who is responsible for maintaining these open source projects? This is the motivation for open source bou...

Zcash is a payment and consensus system that allows users to transfer money to each other with strong guarantees of privacy. Zcash implements the same core features of Bitcoin, with the added functionality of shielded payments. Shielded payments are private, and they are enabled by a novel cryptographic technique called zk-SNARKS: zero knowledge succinct non-interactive argument of knowledge. A zk...

“The Federal Reserve System is fraudulent. Whatever its stated purpose, its effective purpose is to create a mechanism of deficit spending by politicians, through the insidious invisible taxation of monetary debasement (aka inflation).” These are the words of Erik Voorhees, the CEO of crypto financial exchange ShapeShift. Long before he started ShapeShift, Erik was opposed to some of the core prin...

We sign many different types of contracts throughout our lives. We sign a mortgage to get a loan for a house. When we go to the hospital, we sign a piece of paper that defines how our medical data can be shared between organizations. These pieces of paper represent our opting into an agreement that will be mediated and enforced by computer interactions. We can’t see the code behind those computer...

Ethereum is a system for running decentralized smart contracts. In the current implementation of Ethereum, every smart contract gets deployed to every full node. Whenever a user wants to call a smart contract, that smart contract gets executed on each full node–across the entire network. The current model for smart contract execution needs to be made more scalable. In today’s episode, Christian Re...

Soumya Basu is a PhD student at Cornell, where he studies distributed systems problems associated with cryptocurrencies. Soumya is advised by Emin Gun Sirer, a Cornell professor who previously appeared on the show to discuss smart contract security. Soumya joins the show today to talk about a variety of issues in the cryptocurrency space. We first explored the degree to which Bitcoin and Ethereum...

Consensus protocols are used to allow computers to work together. A consensus protocol lets different servers agree on the state of a system. For decades, these protocols have been used to establish consensus among database nodes, application servers, and other infrastructure that runs within an enterprise. More recently, new consensus protocols have been invented to allow cryptoeconomic systems t...

The DAO was a system of smart contracts on the Ethereum blockchain that investors put millions of dollars into. Back in May 2016, it was the largest crowdfunding event in history, and we discussed it in detail in a previous episode with Matt Leising. The DAO was hacked due to a security vulnerability, and this event led to a hard fork of Ethereum. The DAO was organized by a company called Slock.it...

Data streams about the weather can be used to predict how soybean futures are going to change in price. Satellite data streams can take pictures of the number of cars on the road, and judge how traffic patterns are changing. Search engines can aggregate data from different queries and determine what people are most interested in. Data streams define how the world is changing over time. Technology...

To use a web application, you probably open a web browser or a mobile app. To access an Ethereum application, many people use an Ethereum browser. In previous episodes, we explored Metamask and Mist, which are Ethereum browsers for the desktop. In today’s episode, we explore Status, a mobile Ethereum browser. Status founders Jarrad Hope and Oskar Thoren join the show to talk about the engineering...

Anthony Diiorio was involved with Ethereum since the earliest days. He was one of the first people to see the Ethereum ideas presented by Vitalik Buterin, and he invested deeply in Ethereum–both financially and by helping to establish the early Ethereum community. Anthony started Decentral in 2014, which is a hub for his projects in the cryptocurrency space, the most impactful project being Jaxx....

A financial exchange is an operationally intensive business. You have customers making a high volume of transactions, your service has to be low latency and highly available, and you are dealing with a lot of money. A cryptocurrency exchange has all of the complexity of a typical financial exchange–and then some additional complexity. Shapeshift is a cryptocurrency exchange that allows users to bu...

Cryptocurrency speculation has pulled in a large population of people who do not know what they are investing in. If you hear about an investment of $1000 turning into $1M, it’s tempting to get sucked in yourself. For most of these everyday people, the game is completely rigged. A large percentage of market activity is driven by “pump and dumps.” A pump and dump is a conspiracy to trick investors...

In the finance industry, many people have a computer on their desk called a Bloomberg terminal. A Bloomberg terminal contains news, stock prices, communication tools, and other features that make it worth a high subscription price. And people in finance can afford to pay that high subscription because their decisions can cause a gain or loss of thousands of dollars. Cryptocurrency investors have a...

Most applications today run on a cloud provider like AWS. They are built with a framework like Ruby on Rails. They use a set of APIs like Stripe and Twilio for middleware services. This is the era of “web 2.0.” With decentralized systems, we are starting to get a feel for what “web 3.0” might feel like. The futuristic idea of “web 3.0” works off of the following idea: instead of using a centralize...

Decentralized applications can be built on the Ethereum blockchain. Just as the Bitcoin blockchain is a distributed, append-only ledger of financial transaction history, Ethereum is a distributed, append-only ledger of computational transaction history. New kinds of applications can be built on the Ethereum blockchain—and just like every new technology, we need an interface to bridge that new tech...

Decentralized applications might someday offer alternatives to modern monopolies. Uber, Airbnb, Facebook, Amazon—all of these services could be recreated on a decentralized stack of technologies like Ethereum, IPFS, and Golem. Fully decentralized services could be more transparent, cheaper, and more efficient. But let’s be realistic. Today, even the simplest applications of fully decentralized blo...

For a decade, Bitcoin’s proof-of-work system has run without disruption. In a proof-of-work scheme, Bitcoin miners compete to solve a cryptographic puzzle associated with a block of transactions. Every ten minutes, all the Bitcoin miner nodes race to be the first to solve a block of transactions. Only one miner wins each block, meaning the other nodes’ time was ultimately wasted. There is also a m...

Humans organize into groups. There are lots of group types: religions, corporations, national governments, state governments, citizenries, clubs, musical bands. Every group has governance. Governance defines the rules, and the ways that rules change. The United States requires citizens to pay taxes. A corporation requires you to show up to work, but they have to pay you a salary. Most groups today...

Smart contracts are programs that run on the Ethereum blockchain. A smart contract developer pays Ether to deploy the contract. When a contract is deployed, every full node on the Ethereum blockchain has a copy of the contract code in that node’s address space. Every full node needs to hold a copy of every smart contract. This allows every full node to process every call to any smart contract. If...

Joseph Bonneau is co-author of Bitcoin and Cryptocurrency Technologies, a popular textbook. At NYU, he works as an assistant professor exploring cryptography and security. His YouTube lessons teaching Bitcoin have hundreds of thousands of views. His material offers clear explanations of how Bitcoin works. Since Joseph has a clear understanding of the objective facts around Bitcoin, he is the perfe...

Farms have lots of data. A corn farmer needs to monitor the chemical composition of soil. A soybean farmer needs to track crop yield. A chicken farmer needs to count the number of eggs produced. If this data is captured, it can be acted upon—for example, a dry farm can automatically turn up its irrigation system. Or the data can simply be studied. If you work in a pure software business, you might...