Building Blockchain Solutions with Algorand Developer Tools
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The document provides an overview of building blockchain solutions using Algorand developer tools. It discusses Algorand's consensus model of Pure Proof of Stake which aims to solve the blockchain trilemma of security, scalability, and decentralization. It also outlines Algorand's APIs, SDKs, command line tools, and features in development like Vault and Pixel that are aimed at improving storage and transaction efficiency. The document encourages developers to sign up and get started with Algorand's testnet and developer tools.
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Building Blockchain Solutions with Algorand Developer Tools
- 1. Building Blockchain Solutions with Algorand Developer Tools Russ@algorand.com Russ Fustino Technical Evangelist Allison Nolan Product Marketing
- 2. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Russ Fustino 2 • Algorand Technical Evangelist • Microsoft MVP (2013-2018) • Book Author – “Azure and Xamarin Forms” publisher Apress. • Publisher of several apps including the Endorsed Jethro Tull App
- 4. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Get the goods • Code and SDKs: https://github.com/algorand 4
- 5. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Tamperproof Transparency Trust The Blockchain Promise Unlimited Applications
- 6. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Ransomware Attacks 6
- 7. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Erosion of Trust 7
- 8. Agenda § What is Algorand? § Algorand’s Consensus Model § TestNet § Process Architecture § APIs, SDKs and Command Line tools § Planned Developer Features
- 10. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Borderless… Commerce Transactions Exchange Opportunity Applications Development Finance Currency EconomyMoney Governance Investment Participation Trade Markets Customers Technology Innovation Contracts
- 11. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Algorand § Pure Proof of Stake (PPOS) Blockchain § Permissionless § Fast Transaction Throughput and Finality § No Forking – only one Block can get Quorum § Upgrades on Chain Consensus Keynote by Silvio Micali, Founder of Algorand “Building the Technical Innovation Required for a New Borderless Economy“ https://www.coindesk.com/events/consensus-2019/videos Algorand YouTube Channel https://www.youtube.com/algorand
- 12. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level The Blockchain Trilemma “At most two of…” Security Scalability Decentralization
- 13. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Generating New Blocks • Various approaches for choosing the next block: • Proof-of-work • Delegated proof of stake • Bonded proof of stake • All these approaches have a fatal flaw • “The whole economy is at the mercy of a small part of the economy.” 13
- 14. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level How do you select a new block to be appended to the chain? proof-of-work • Minors own only a small fraction of the money in a proof-of- work blockchain • There are only 3 mining pools • The chain is not secure. • An adversary may thus attack either the protocol or communication network • Forks can cause scalability issues • Not Green 14
- 15. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level How do you select a new block to be appended to the chain? (continued) Delegated proof-of-stake • The community empowers a few special delegates, to choose the next block • It is centralized from the get-go. • Since the delegates are known, a determined adversary could bring down all the delegates by a fast DoS attack. 15
- 16. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level How do you select a new block to be appended to the chain? (Continued) Bonded Proof-of-Stake • Bonded PoS allows 20 users, or as many as are willing, to put some money on the table — a bond. • These are the users who select the next block. • If they misbehave, their money is confiscated. • makes it easy for big thieves to put a disproportionate amount of money on the table for the sole purpose of controlling the blockchain. 16
- 17. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Algorand’s Logic and Pure Proof-of-Stake • No money is ever hostage. • All money is always where it should be: in your wallet, at your fingertips ready to be spent, or in the various financial instruments that the Algorand blockchain offers you. • We want block generation to be simultaneously scalable, secure, and decentralized. Phase 1 • A single token is randomly selected, and its owner is the user who proposes the next block. Phase 2 • 1000 tokens are selected among all tokens currently in the system. The owners of these 1000 tokens are selected to be part of a phase-2 ‘committee,’ which approves the block proposed by the first user. 17
- 18. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Defeating the Trilemma § Security – § Committee members are not known until after the fact § Everything is cryptographically signed § Scalability § Minimal messages § Lottery execution extremely fast § Decentralization § Low barrier to entry § Anyone can participate in consensus 19 Alogorand’s CORE Technology in a nutshell) https://medium.com/algorand/algorands-core-technology-in-a-nutshell-e2b824e03c77
- 19. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level ’s Technical Advancements • A new and super fast Byzantine agreement – Allows system to agree on a new block while that block propagates • VRFs (Verifiable Random Function) is open sourced and Cryptographic Self-Selection to Blockchains. Allow users to secretly, fairly and provable select themselves • Player Replaceability – Withstands the corruption of all users in the middle of a protocol. 20
- 21. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Algorand Consensus Overview
- 22. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Algorand Foundation Dutch Auctions • https://algorand.foundation/ • Foundation will launch Auctions • Tokens bids stored on chain • Auction winners are recorded on chain • Auction parameters posted to chain prior to Auction
- 23. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Algorand Foundation Rewards § See Foundation site § https://algorand.foundation/token-dynamics § All users online and offline are eligible to earn rewards
- 24. Algorand TestNet
- 25. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level TestNet Live!
- 26. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level TestNet Node Map
- 27. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level TestNet AlgoExplorer 34
- 28. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Install you node! Install new node • Log into https://developer.algorand.org/ • https://developer.algorand.org/docs/introduction-installing-node 35
- 30. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Wallets and Accounts - Logical Overview wallet Account Private Key Address/Public Key Derived Mnemonic Spending ParticipationParticipation Key Account Account Im port/Export Stand Alone SDK/Algokey Generated WalletID Wallet Name Mnemonic Wallet Driver Spending keys used for creating and issuing signed transactions Participation Keys are used for participating in consensus and associated to spending keys
- 31. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Multi-Sig accounts Multi-Sig Account Address2 (PK2) Address1 (PK1) Address3 (PK3) Threshold Level Address(Hash of PKs)
- 32. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Algorand Processes kmd algod Node 1 2 1. KMD handles all interaction with spending keys, including signing transactions. Signing can be stand alone as well. 2. Algod is responsible for processing the protocol and interacting with SQLite to record the ledger. Implements REST API for read only APIs.
- 33. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Node Scenarios kmd algod Node kmd algod Node kmd algod Node algod Node algod Node kmd algod Node kmd Node Offline algod Relay App Algorand Wallet Air Gapped Application JS SDK, GO SDK, Java SDK
- 34. APIs and Command Line Tools
- 35. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Algorand APIs and Command Line Tools • algod process is for protocol and read only Rest APIs, submit signed txs • kmd process is for wallet integrations and transactions • Goal command line tool for interacting with Node • algokey stand-alone command line utility used to generate, import, export keys and to sign transactions. • SDKs stand alone key functions Goal kmdSwagger Supported Rest/JSON HTTP PORT Swagger Supported Rest/JSON HTTP PORT algod Algorand Node JS SDK, GO SDK, Java SDK Algokey Custom Code
- 36. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Goal goal clerk account addpartkey balance changeonlinestatus importrootkey list new multisig rename send multisig rawsend ledger supply logging disable enable send network create delete restart start status stop node clone generatetoken lastround restart start status stop version Wallet KMD list new start stop delete listpartkeys rewards pendingtxns
- 37. SDKs and Swagger
- 38. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Swagger.Json
- 39. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Generating Clients
- 40. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level SDK Functionality 49 kmd Wrapper algod Wrapper Stand-alone functions Create accounts Account Mnemonic Create Transaction kmd algod Sign Transaction Air Gapped Applications Networked Applications
- 41. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level SDK Documentation 50
- 42. JS, Go, Java SDK’s Demo 51
- 43. Coming Features
- 44. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Near Term Projects § Vault - Solve blockchain storage issues § Pixel – Address size and bandwidth of multi-signature requirements § Self Validating Transactions – Address balance time constraint § Atomic Swaps – Crosschain and multi-asset swaps in single transactions § Post-and-Sale Trades – Get buyers and sellers together quickly Further out Smart² contracts, quantum-resiliency
- 45. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level Sign up Today! 55
- 46. Questions?