Turing Award winning computer scientist Silvio Micali talks about crypto’s future.

May 05, 2022

Silvio Micali, who won the A.M Turing Award for creating the first secure encryption scheme, said that the idea of Bitcoin is beautiful.

In an interview with the LA Times talking about bitcoin, Algorand creator said that the idea is beautiful, but the solution is not exactly elegant.

Bitcoin absorbs as much electricity as a small country, and Algorand is going to consume as much electricity as roughly 10 homes, the MIT professor said.

When asked about blockchain’s future in 10 years, the Italian computer scientist said that blockchains that are really capable of transacting at a very low cost are going to emerge. 

Micali said that as traditional finance starts getting on the blockchain, we’re going to see a rise in blockchains that are used in a massive and transactional way. 

And a few store of values like bitcoin will maybe stay, the Italian computer scientist added. 

When asked if he is the real Satoshi Nakamoto, Micali laughed and said “No. But I cannot prove it.”