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How can we make a SmartContract usable for everyone


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OMM TECHtalks #5

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How can we make a SmartContract usable for everyone

  1. 1. OMM Solutions TECHtalk #5 1< OMM Solutions GmbH >26.07.2017
  2. 2. Einmal im Monat ist TECHtalk Zeit! First come first served! < OMM Solutions GmbH > 2
  3. 3. Talk: How can we make a SmartContract usable for everyone Speaker: Olaf Horstmann 3< OMM Solutions GmbH >
  4. 4. The pain points of a „raw“ Smart Contract • You can‘t run a full ethereum-node on a mobile device/weak notebook • requires a lot of storage • requires a lot of CPU • requires the device to be turned on almost 24/7 • Installing several new tools might be too much already for some users • Smart Contracts don‘t come with an UI • Auto-Generated UIs never have a good usability „Raw“ Smart Contracts are not easy to use < OMM Solutions GmbH > 426.07.2017
  5. 5. „Light Clients“ to the rescue 526.07.2017 < OMM Solutions GmbH > What is a „Light Client“ • Just a connection to a full node to query and send information • e.g.: „What is the current balance of address „0xF484AA0D23….“ • The only permanently stored information are the account-numbers + private keys • The only active „computing“ that is done, is signing a transaction with the private key • no smart contracts are executed, no balances are calculated, ect… • requires close to zero disk-space • requires almost no compute-power • many apps and browser-extensions are available • no „higher risk“ involved, because private keys are kept locally only Benefits • higher data-consumption (every piece of data needs to be fetched through the network/internet) • usually somewhat limited in functionality regarding smart-contracts • dependant on just one node (vs. running own node, that is connected to many other nodes) • the remote node might become unavailable • the remote node might send false information or not relay our transactions Drawbacks
  6. 6. There still needs to be a full node somewhere 626.07.2017 < OMM Solutions GmbH > Schema of how a Light Client is connected - Please relay this transaction „X“ to the blockchain … - Please send me update on contract 0xF83D04A… Update-Event on Contract 0xF83D04A…: BetOffered(El Classico, 15$) Private Key Account/Wallet Light Client Full Node
  7. 7. • Metamask (Browser-Extension, OpenSource) • JAXX (Mobile/Desktop, Multi-Chain) • imToken (Mobile App) • (Fully featured in-browser application) • LightWallet (JavaScript-library that works in combination with the web3-library) Selection of available Light Clients 26.07.2017 < OMM Solutions GmbH > 7
  8. 8. • since Light Clients only exchange data via the internet with a fixed Ethereum-Node => this can also be done with pure JavaScript from within a website • however, the user would have to provide any account-information manually for every contract-UI • instead of connecting to a node directly, we‘ll go through a Light Client (e.g. Metamask) That still leaves the UI challenge for Smart Contracts 26.07.2017 < OMM Solutions GmbH > 8
  9. 9. Example Workflow with Metamask (Browser Extension) 926.07.2017 < OMM Solutions GmbH > 1. User visits some SC-App 2. Browser loads installed Extensions (incl. Metamask) 3. Metamask injects Code into the SC-App 4. SC-App uses injected Code to query Blockchain-Data 5. User interacts with SC-App 6. Whenever an action requires a transaction, the SC-App queries the user via Metamask to confirm 1 2 3 5 4/6
  10. 10. Demo 26.07.2017 < OMM Solutions GmbH > 10
  11. 11. • it is possible to initiate transactions via a website • though it requires an extension or a blockchain-enabled browser AND a remote Full Node • any transaction has to be manually confirmed by the user • the application cannot acces any private keys • currently Metamask injects into any website (privacy-features are on the roadmap) • transaction-fees are currently very high Current state of the art 26.07.2017 < OMM Solutions GmbH > 11
  12. 12. Vielen Dank für Eure Aufmerksamkeit! 12< OMM Solutions GmbH >
  13. 13. Ihr persönlicher Ansprechpartner Fragen oder Interesse? < OMM Solutions GmbH > 13 Olaf Horstmann Technology & Innovation OMM Solutions GmbH Vor dem Lauch 4 70567 Stuttgart Germany +49 (0)711 75 86 46 04
  14. 14. 14< OMM Solutions GmbH > OMM Solutions GmbH Vor dem Lauch 4 70567 Stuttgart Geschäftsführer Martin Allmendinger Malte Horstmann Olaf Horstmann Kontakt Telefon: +49 711 6747 051-0 E-Mail: Umsatzsteuer-ID: DE295716572 Sitz der Gesellschaft: Stuttgart Amtsgericht Stuttgart, HRB 749562 Impressum