If you didn’t know it yet, we are very bullish on Algorand and in today’s video we get to have a conversation with Algorand’s CTO John Woods.
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Foreign [Music] [Music] [Music] Can't Fail like people have to Understand Silvio has been doing Cryptography longer than most blockchain CEOs have been alive yes I think that's Exactly it Let's move on to uh let's bring John up Here John what is going on Hey big boy thanks for having me on How's it going pretty good things things Are going well uh so John uh you're from Al Green so tell everybody a little bit About uh who you are and what you do There yeah sure absolutely so I'm John Woods I'm the CTO at the algoron Foundation so really uh my job is to Effectively I guess guide the ecosystem Technically make strategic decisions With the foundation so we're skating to The right place Um and so the types of things I've done Since I've joined uh is try to work on The developer experience make sure that It's really easy for people to build Daps that are cool on algorand Um so it takes not as much time and not As much money as it took previously Um and also I guess just to Foster uh Kind of an environment where uh it's fun To use algorand and people understand
How to use it and what the cool Services Yeah I love that okay so Um what I'd like to say here is uh do You work at the Boston office no no I Work uh out of Dublin Ireland uh oh You're in Ireland I'm actually uh yeah I Work from home yeah I work from home uh Did you say yeah when we went to the Office No I didn't even didn't see that yeah we Went to the office nobody was there it Was a it was a a Saturday and we we Found a trick in the elevator to get up There I probably shouldn't say it what it is But have you been there to the office No nothing because because the the ink Are based there right the engineering Team are based there but uh I guess yeah I haven't been over to see those guys Because I've I of course work with the Foundation guys more so but we're kind Of we're two companies pushing in the Same direction so it's kind of cool like You go up there you get off the elevator And then they've got this little like TV That like blinks and it says algorand on It and it points you in a direction to Go so anyways we left a note those that Me and AJ were there so uh we're big Fans of our brand I like Silvio um Actually like a lot of people uh you Know I said this very early on I did a Sponsor video for Al Green like the
First week I launched Um I was yeah I I actually helped you Know kind of I wasn't on the launch Team Or anything like that but you know I Only had probably 6 000 subscribers Maybe 8 000 subscribers I was very small At the time and Um I really liked I I kind of like well This is going to sound kind of weird I Kind of fell in love with Sylvia McCauley like Okay I don't mean in a weird way he's The greatest The Godfather of Cryptography he is he and he's amazing You know I've met him a bunch of times In person and uh most recently a Paris Blockchain week we hung out together a Little bit and he really is just a Gentleman he's like an old Italian Gentleman uh very experienced and he's Of course uh brought so much value to The world of cryptography right he's Just uh really the the the father of Modern zero knowledge proofs and all This absolutely that all these Blockchains are built on right he was One of the inventors or co-inventors off That's to me that's why Al Green Can't Fail like people have to understand Silvio has been doing cryptography Longer than most blockchain CEOs have Been alive Yes this is exactly it and so here you Know here's the thing big boys like I
Actually feel like the biggest problem Algorize had is not like the the crypto Chops or the engineering chops or like You know uh the the skill with the with The with all the geeky stuff right Because we have that stuff nailed the Technology's Best in Class we have like Some of the people who invented this Whole scene right like the the honestly Silvio's like the Snoop Dogg of crypto Right yeah our problem our problem is That we just didn't get the message out To people to understand this stuff and So you know one of the things I'm trying To do Um and I'll never be as brilliant as Silvio is but one of the things I'm Trying to do right now is is educate Folks so they understand this stuff to Talk to people about the technology in a Simple way and also as I mentioned at The start of the show or sorry at the Start of my segment uh is make it easier To use yeah and I I think really you hit It head on I mean I remember even when I Was looking into it for my uh for that Video that I did very early on I think It would have been like August of 2000 19 I think it was Um that was around the large time right Yeah totally totally totally it's that That would have been like in its infancy It was the Dutch auction it was during The Dutch auction so like I remember
Looking into it like what is a Dutch Auction like I didn't know what any of This stuff was you know so I I do think There is a pretty big learning curve um For people that are into algorithm Compared to people that are in like Ethereum but I think I think the Learning curve is only because ethereum Did it one way and everybody saw that And was early in that and that's just The way people are used to kind of like They talk about with well Hardware Wallets like treasure and Ledger were First so everybody thinks the way Hardware wallets should work is the way They do but that's just the way that They did it and I think that's kind of a Good uh analogy for algorand like Al Gran is a is a layer one blockchain but It's doing things a little bit different What what is it that makes algorand Different from other layer one Blockchains like ethereum or cardano Right right so like you know people Flex On these kind of things all the time but I'm gonna like give you the reality of It algorand security is investing class It uses this pure proof of stake Consensus mechanism which uses Silvio Macaulay's verifiable random functions And that's a lot of words but what it Really means is to defraud algorand You'd have to have this enormous uh Majority of the of the coins and so
What's the coins whilst the algo token Is distributed uh to people who are Holding it uh on a majority of basis who Are who are honest it is literally Mathematically impossible yes for Algorithm to be to be uh to have a Security incident right so the consensus Mechanism is secure because of the People that are holding it Um And so if we move then to like its next Virtue is in terms of its speed algorand Uh you might look at a lot of chains Quote TPS like it Flex on TPS yeah oh I've got 80 000 TPS 100 000 TPS algorize TPS is just under about ten thousand but Here's the critical thing what algoron Can do in those 10 000 TPS can blow away Some of the chains that have 50 000 TPS Because algorand gets more done per Transaction than some of the other Chains in algoran every single Transaction per second goes towards Doing useful work not doing things like Consensus and this is critical and then What Builds on that I talked about the Vrf what Silvio came up with for Consensus this allows us to have a chain That never has any short Forks now this Is a bit technical but like in a lot of Blockchains out there cardano where I Used to work ethereum where I used to Work as well Um you know uh polygon all these
Different chains they can suffer from This kind of uh breaking consensus for a Second where there's two chains that are Kind of competing and then one of them Dies away and it's all good but what Happens if you're on one of those chains That dies away you have to replay your Transactions so people will be using Ethereum sometimes their transaction Gets reverted they've got to replay it Well algoron doesn't have that so when You're building apps and I'll go around Or you send money to your friends or Someone else that person receives it and You don't have to worry it's going to Get rolled back it's just done in three Seconds and so these are critical things And then finally algorithm is cheap and It's green man because the whole Network Right now is using about as much Electricity as a charging Tesla is right So this is it's it's a really good story And like I said at the start the only Thing that we have a problem with is Getting people to understand just how Great it is yeah Thank you [Music] [Applause] [Music] [Applause] [Music] [Applause] Well I think some of the big advantages
You guys have I think are very conducive To uh Enterprise Um the way I've kind of always for for Some reason I know you've worked with Some other layer one platforms as well Uh I always have looked at H bar and Algrand very similar like I know that They're not the same Technologies right They're totally different when you look At Um the hashgraph consensus and then the Consists you guys use Um but to me like both of you both of These projects are really good Tech they Have really good leadership they've got Really strong communities but for some Reason like they're like under marketed Almost and it's because the focus is so Much on the tech I think is is one of The big reasons there Um but what what is your experience like What what blockchains do you look at Outside of algorand and say okay these Are probably our biggest competitors so I think near does it well in terms of Its education so I think the focus that It has on on developer experience is Really good so I've taken some Inspiration from that when I built out The documentation and worked at the team To build Advocate album kit by the way Is the name of the of the cool new tool That's going to make it super easy to Build on algorithm and Advocate is
Launching in two days on March 20th Version we know about it's going to be Really really cool honestly like a you Know a 12 year old kid could use ago kit To launch an nft on algorithm it's going To be that easy to use um My kid who does you who has his own YouTube channel he's 11. I'm gonna have Him launch his own nft on there how About to do it let's do it I'll go on Live with him we can do it together Sweet um so uh yeah so so near is good Uh Solana of course is is well known and And I think it does some things right I Like the idea that it's it's using like Gpus and npus and other other kind of Like using using all the stuff inside Your computer to accelerate things Um of course it's had it's had some Issues Avalanche is interesting of Course it's a competitor with the with The with the co-chains and the sub Chains and that kind of model I'm not Sure how useful that is I think if you Get your layer one I'll run Avalanche Today so it's perfect that you're saying This now I think so I think Salon is Done too I mean I think it's a lot of I Mean the fact that they just chose Centralization that's what they chose I Mean that's why the things are that's Why it's faster well yeah to a degree But you know I I you know I tell you one Thing and all these chains and even
Cardano I was the chief Arctic Don Cardano before I I moved over uh to Al-iron and so I can tell you you know Uh the amount of engineering and love And time and and thought that's gone Into all of these changes and myths and Um for me you know the algorithm doesn't Have to be the only winner uh I think It's but it's about making sure that we We give to people uh decentralized Operating system so not everything is Going to run just on your Mac or on Windows or on your phone uh we want to Be able to have a decentralized Self-sovereign permissionless operating System and that's what crypto gives People and that's a powerful thing Because not everyone lives in a place Like I do or you do or some of the Viewers do that's that that enjoys Financial Freedom and a lot of places Are repressed and the these these Platforms we're building can change People's lives you know this is Important stuff yeah absolutely so we're Big fans algorand is one of the only Coins that's in my port that's in my um In my bio we have my top coins are xrp a To eth ICP H bar algo Matic and Bitcoin Of course so we definitely have algorand In that list we love algorithm we think It's a great project Um one question I do want to ask you Before we go here is you as you know
Coinbase just ended the algorithms Taking on coinbase Um if people are interested in staking Their algorand in like like an on-chain Experience how how would they go about Figuring out where to do that sure so uh It's a really good question so of course Uh coinbase did that for all kinds of Reasons and yeah I know they published Something about the SEC giving them a Wells notice and all this kind of stuff So they had their reasons and that's Their that's of course their their Business to do that and as an exchange I Can understand why they don't want to be Handling people's money like that and so If folks want to get involved with Governance it's super easy to do so all You have to do is withdraw your your Coins your algo from uh coinbase and by The way you should take your coins off Centralized exchanges just generally Across all cryptocurrencies in my Personal View and and you can put them In any of the wallets that we have Pera Is a great one as an example parallel Pera it's available for IOS and Android Runs it runs on your phone super secure Um and from Pera you can engage in Governance and earn your yield uh I Think it's about six percent or Something like that I'm not entirely Sure of the number but it's a decent Yield and you can get involved in
Governance and all you got to do is Withdraw your coins from coinbase to Pera as an example and then go to our Governance portal And there you can sign a single Transaction and you'll be set up for Governance so really easy and if anyone Out there wants to follow me on Twitter Uh at John Allen Woods you can drop me a DM directly and I'll make sure that we Get our Tech Guys to help you set up if You're struggling with this but Withdrawal from from centralized Exchanges like coinbase pop it in a Wallet like para wallet and then go to Our governance portal it's one click Sign up and you'll be earning your yield Can we can we run an outgrand node or is It still possible to start a node Absolutely there's two types of node Relays and participation relays is the Consensus one they're the relays are Completely sorry the consensus nodes are Completely permissionless anyone can run One at any time Um and in fact by the way we're going to Be rolling out these one-click nodes Again going back making it easier for People I'm rolling out this software you Click one button and a node pops up so Absolutely you can do that at the moment It's a little bit tricky uh over the Next few weeks we'll have this one click Node out it's going to get real easy
Love that let's do that I definitely Want to run one because like I said We're we're a big uh big supporter of Algorand and thank you so much for Coming on John you guys make sure to go Follow my Twitter and uh John we'll be In touch [Music] All right [Music] Foreign [Music] [Music]
