Join the IMF they said. See the world, they said.
KARMA (2003)
In 2003, Sirer and co-authors Vivek Vishnumurthy and Sangeeth Chandrakumar introduced KARMA, a peer-to-peer virtual currency system that predated Bitcoin by five years. It is the first peer-to-peer currency with a distributed mint using proof-of-work consensus, introducing key concepts around decentralized trust management and incentive mechanisms for peer-to-peer resource sharing.[6] The system was designed to address the "free-rider problem" in peer-to-peer networks by creating a decentralized economic framework in which participants could not counterfeit currency and supply was regulated through anti-inflation mechanisms.[7]
In February 2005, Sirer was issued a patent for "A Process for Rewriting Executable Content on a Network Server or Desktop Machine in Order to Enforce Site-Specific Properties."[8]
While at Cornell University, Sirer co-authored HyperDex (2012), a distributed searchable key-value store that uses hyperspace hashing.[9]
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