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Moscow Blockchain Devs Meetup
Some Open Problems in Blockchains
Alexander Chepurnoy
(aka kushti)
@chepurnoy
IOHK Research
Background
● programming since 1996
● p2p systems with Scala/Akka
● Nxt core developer
● Consensus Research
● smartcontract.com cofounder(left)
● Scorex since late 2014
● IOHK Research
The talk is about
● What are open problems in blockchains
● How can we solve them
Current State
● 1.33 well understood systems working
● Bitcoin
● partly Ethereum
● A lot of work-in-progress around
Bitcoin
● highly centralized
● scalability is questionable
● well studied(in both theory & practice)
Troughput (TPS)
● 7 ??? no
● 2-3 in fact
● 1/600 in worse case
https://www.reddit.com/r/Bitcoin/comments/3cgft7/largest_trans
Bitcoin Consensus Protocol
● „The Bitcoin Backbone Protocol:Analysis and Applications“
● „Analysis of the Blockchain Protocol in Asynchronous
Networks“
Better PoW
● Equihash - memory-hard PoW (ZCash)
● Permacoin – proofs of retrievability for static dataset
● Rollerchain – proofs of posession of state snapshots
Blockchain Pruning
Rollerchain
● http://arxiv.org/abs/1603.07926
● „A Prunable Blockchain Consensus Protocol Based on
Non-Interactive Proofs of Past States Retrievability“
Rollerchain
● Only last n full blocks to be stored collectively
● and n state snapshots
● Each miner stores k state snapshots
Rollerchain
● New node can download a historical snapshot
● Fullblocks not needed for mining could be thrown away
● Blockheaders are to be stored forever, so must be small
Proof-of-Stake
● Formalization is coming
● Hopefully in 2016
● Problems: randomness, forking, timing
Scalability
● Move things off-chain
● Sidechains
● Avoid all the transactions execution(RsCoin)
Offchain
● Lightning Network(ThunderNetwork)
● Offchain contracts(SMC/SMP)
Smart Contracts
● Ethereum isn't scalable
● Hawk
● Enigma
Anonymity
● A lot of schemes proposed
● Most of them are probably broken or not practical
● Cryptonote
● ZCash
● Upcoming survey from Bernardo David
Applications
● Randomness
● System designs: „The Blockchain as a Software
Connector“
● Protocols study
Primitives
● Post-quantum digital signatures: BLISS, NTRU
Trivial Things
● Specially crafted database
● Formalized code (not formal model)
● Extensive testing at least :)
Conclusion
● We have a lot of open problems!
● A lot of results are to be released soon
Questions?
Twitter: @chepurnoy
Mail: kushti@protonmail.ch

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Some Open Problems in Blockchains