This talk serves as an introduction to important Web3 technologies such as Decentralized Autonomous Organizations (DAOs), blockchains, cryptocurrencies and Decentralized Finance (DeFi).

The main focus will be on public permissionless blockchains, crypto mechanics, smart contracts and blockchain governance. Consensus algorithms, random number generators, and use of cryptographic hash functions will be discussed as well as “proof-of-work” and “proof-of-stake” techniques employed by most common cryptocurrencies. Also discussed will be the Environmental, Social, and Governance (ESG) issues surrounding mining/minting crypto, crypto money supply, solo/pooled mining and how crypto is typically held by institutions and individuals.

The aim of this talk is to provide a deeper level of understanding of these technologies than the overly simplistic and often inaccurate explanations of blockchain typically espoused by the media.

Co-sponsored by: USF Electrical Engineering Department Graduate Series

Speaker(s): Dr. Michael A Ramalho,

Agenda:
The next phase of the Internet, commonly referred to as Web3, aims to solve many of the problems of Web2 by moving data ownership and power to idividuals and away from captive, closed platforms such as Instagram, Facebook, and popular e-commerce platforms.

Key in the Web3 transition are Decentralized Autonomous Organizations (DAOs) that are organizations represented by rules (ensconced in computer code) that are transparent, controlled by DAO members, and are not influenced/controlled by a central government. Individual cryptocurrencies and Non-Fungible Token (NFT) marketplaces are examples of DAOs.

Blockchain technology – while it is not exclusively Web3 technology and has many applications outside of Web3 – represents an essential component used in many Web3 advances.

Most introductory blockchain material for layperson audiences uses overly simplistic and often inaccurate explanations of blockchain technology, such as “solving a complex puzzle” or “mining” in the case of Bitcoin. Engineering and computer science practitioners need a deeper layer of understanding before they can fully appreciate and assess some of the finer points of the technology. In doing so, they can better assess the widely pontificated benefits of crypto, blockchain, decentralized finance (DeFi), smart contracts, NFTs or other Web3 advances.

This talk intends to span this technology chasm by an engineering analysis of blockchain and essential technologies used in blockchain and common cryptocurrencies such as: consensus algorithms, random number generators, and use of cryptographic hash functions (widely used within crypto). Attendees will learn specifically how Bitcoin blocks are “chained” and should appreciate the ESG-related differences between the so-called “proof-of-work” and “proof-of-stake” consensus used in common crypto models. Also discussed will be Ethereum (and Etherium Virtual Machines), solo-vs-pooled crypto mining/minting, crypto wallets, and governance issues of crypto (e.g., crypto money supply).

The talk aims to empower attendees to better challenge some of the widely held assertions for crypto, DeFi and Web3 in general.

MSFT Teams Meeting URL:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_YTNjOTJiZWYtZjEzZi00ZmJlLTkzNTktMTM2ZmZjZTU2MGE3%40thread.v2/0?context=%7b%22Tid%22%3a%22741bf7de-e2e5-46df-8d67-82607df9deaa%22%2c%22Oid%22%3a%229a83a254-88f6-470f-aa5e-db024e632e7d%22%7d

MSFT Teams Meeting ID/Password (if URL above doesn’t work):
Meeting ID: 295 367 273 19
Passcode: u6eDw6

Room: ENB 113, Bldg: ENB – Engineering Building II, 4220 E Fowler Ave, Tampa, Florida, United States, 33620, Virtual: https://events.vtools.ieee.org/m/327461