Presentation slides from my talk on atomic swaps, chain relays, meta layer protocols and the challenges of cross-chain interoperability @ Code Block 2018 hosted by Blockchain.com
Intro. to Lightning Network (Bitcoin/Litecoin) - Blockchain Developers MalaysiaTM Lee
ย
Introduction to Lightning Network for Bitcoin and Litecoin presented at the first Blockchain Developers Malaysia meetup by TM Lee, co-founder of https://www.coingecko.com
Presented images cited from BitcoinMagazine and Lightning Network Slide Decks
The document introduces the Lightning Network as a solution to Bitcoin's scalability problems. It explains that Lightning Network creates payment channels between parties that allow for fast, low-cost transactions without broadcasting to the blockchain. Transactions are enforced through smart contracts. This allows the network to potentially process millions of transactions per second through payment hubs and routes. It outlines several open source Lightning Network implementations that are being developed to support the network.
Technology of Lightning Network in Tel Aviv, Israeltakayaimai
ย
The document discusses the Lightning Network, an off-chain scaling solution for Bitcoin that uses payment channels to enable high-volume, low-value transfers. It provides an overview of how payment channels work using micro payment channels that allow bidirectional transfers between two parties off the blockchain. The key aspects covered are opening a channel by creating a funding transaction, updating the channel balances by exchanging signed commitment transactions, and closing the channel by broadcasting the final commitment to the blockchain.
The document discusses the Lightning Network, which aims to scale bitcoin transactions by enabling instant, low-cost payments through off-chain payment channels. It describes key concepts like payment channels, routing payments across multiple nodes, and implementations. The Lightning Network allows for near-instant micropayments, smart contracts, and cross-chain atomic swaps by using timelocks and hashed timelock contracts to securely transfer bitcoin off the main blockchain.
This presentation goes over consensus fundamentals, what consensus algorithms are used in Hyperledger blockchain projects today and how do they work. This presentation was presented at the April 2nd SF Hyperledger Meetup @ PubNub.
A short seminar presentation on the technical background of Bitcoins. Some basic concepts behind bitcoin addresses are discussed. An overview on the concepts of transactions and blocks is given.
Intro. to Lightning Network (Bitcoin/Litecoin) - Blockchain Developers MalaysiaTM Lee
ย
Introduction to Lightning Network for Bitcoin and Litecoin presented at the first Blockchain Developers Malaysia meetup by TM Lee, co-founder of https://www.coingecko.com
Presented images cited from BitcoinMagazine and Lightning Network Slide Decks
The document introduces the Lightning Network as a solution to Bitcoin's scalability problems. It explains that Lightning Network creates payment channels between parties that allow for fast, low-cost transactions without broadcasting to the blockchain. Transactions are enforced through smart contracts. This allows the network to potentially process millions of transactions per second through payment hubs and routes. It outlines several open source Lightning Network implementations that are being developed to support the network.
Technology of Lightning Network in Tel Aviv, Israeltakayaimai
ย
The document discusses the Lightning Network, an off-chain scaling solution for Bitcoin that uses payment channels to enable high-volume, low-value transfers. It provides an overview of how payment channels work using micro payment channels that allow bidirectional transfers between two parties off the blockchain. The key aspects covered are opening a channel by creating a funding transaction, updating the channel balances by exchanging signed commitment transactions, and closing the channel by broadcasting the final commitment to the blockchain.
The document discusses the Lightning Network, which aims to scale bitcoin transactions by enabling instant, low-cost payments through off-chain payment channels. It describes key concepts like payment channels, routing payments across multiple nodes, and implementations. The Lightning Network allows for near-instant micropayments, smart contracts, and cross-chain atomic swaps by using timelocks and hashed timelock contracts to securely transfer bitcoin off the main blockchain.
This presentation goes over consensus fundamentals, what consensus algorithms are used in Hyperledger blockchain projects today and how do they work. This presentation was presented at the April 2nd SF Hyperledger Meetup @ PubNub.
A short seminar presentation on the technical background of Bitcoins. Some basic concepts behind bitcoin addresses are discussed. An overview on the concepts of transactions and blocks is given.
The main things you need to know about blockchain:
+ What Is A Blockchain. Theory
+ Ordering Facts
+ Blocks
+ Mining
+ Money and Cryptocurrencies
+ Contracts
Consensus Algorithms - Nakov at CryptoBlockCon - Las Vegas (2018)Svetlin Nakov
ย
This document discusses various blockchain consensus algorithms, including Byzantine Fault Tolerance (BFT), Proof of Work (PoW), Proof of Stake (PoS), Delegated Proof of Stake (DPoS), and Asynchronous BFT (aBFT). It provides an overview of how each algorithm works, examples of blockchain systems that use each algorithm, and the advantages and disadvantages of each approach. In conclusion, it notes that there is no perfect consensus algorithm and that each has tradeoffs between decentralization, performance, and security.
Intro to Blockchain - And, by the way, what the heck is proof-of-work?Jim Flynn
ย
An overview of bitcoin and the blockchain with a more in-depth description of proof of work (POW). Conde samples used to demonstrate the concepts behind POW are available at http://jamespflynn.com.
This document proposes a hybrid Proof-of-Work/Proof-of-Stake consensus algorithm called Hyperchains. Hyperchains use a parent Proof-of-Work blockchain to secure and checkpoint a child Proof-of-Stake blockchain. The elections of validators on the child chain depend only on what happens on the parent chain. When a new keyblock is mined on the parent chain, eligible delegates on the child chain submit commitments to the parent chain acknowledging their view of the child chain. A transparent function then elects the new validator on the child chain based on stakes and commitments. This avoids problems with naive Proof-of-Stake by punishing voting on multiple forks and only considering the last commitment. Hyperchains
Blockchain Interoperability using Cosmos Interblockchain CommunicationChjango Unchained
ย
The Cosmos Network is the pioneer of blockchain interoperability, solving the current infrastructure and scalability issues the blockchain sector faces today. IBC is a protocol that the Cosmos Network is developing which will lead the ecosystem of siloed blockchains into a new, connected ecosystem of an Internet of Blockchains.
Weaving the ILP Fabric into Bigchain DBInterledger
ย
Dimitri De Jonghe presents on how Bigchain DB can use Interledger to connect disparate systems. Presented at the Interleder Workshop in London on 7/6/2016. Full presentation here: https://interledger.org/presentations/2016-07-06%20-%20ILP%20Workshop%20London%202016.pdf
A research-oriented introduction to the cryptographic currencies (starting wi...vpnmentor
ย
Presentation by Stefan Dziembowski, associate professor and leader of Cryptology and Data Security Group University of Warsaw. In BIU workshop on Bitcoin. Covered exclusively by vpnMentor.com
Consensus Algorithms - Nakov @ jProfessionals - Jan 2018Svetlin Nakov
ย
This document provides an overview of blockchain consensus algorithms including proof-of-work, proof-of-stake, delegated proof-of-stake, proof-of-authority, and PBFT. It discusses the requirements for consensus algorithms and describes how various popular cryptocurrencies implement different consensus mechanisms. Several Java-based blockchain projects are also mentioned, including IOTA, NEM, and TRON.
Proof-of-Stake & Its Improvements (San Francisco Bitcoin Devs Hackathon)Alex Chepurnoy
ย
This document discusses improvements to proof-of-stake consensus algorithms for cryptocurrencies. It begins with an introduction to the author and their areas of research interest. It then provides an overview of consensus algorithms, problems in distributed systems, and the history of Byzantine agreement and Bitcoin's consensus protocol. The majority of the document focuses on improvements to proof-of-stake protocols, including the use of multiple branching forging to improve security and the development of formal models and simulation tools to analyze consensus algorithms. It concludes by discussing the author's work on experimental cryptocurrency implementations using proof-of-stake variants.
Introduction to Blockchain & developmentAbdullah Aziz
ย
The document discusses blockchain concepts and provides a coding demonstration. It describes key blockchain characteristics like decentralization and immutability. It explains how hashing, Merkle trees, blocks and chains of blocks work to securely store transaction data. Forks that can occur when transactions conflict are also covered. The document differentiates between public and private blockchains. It then demonstrates coding a basic blockchain implementation, including functions for mining blocks and adding them to the peer-to-peer network.
"Atomic Swaps" allow two parties to exchange tokens from 2 separate blockchains without the need to trust each other or a third-party (like an exchange). In its most basic form both parties create transactions to their trading partner in a way that either outputs from both transactions or none of them can be spent (thus making the exchange of both cryptocurrencies atomic).
Since the activation of SegWit and the upcoming availability of the Lightning Network these types of swaps no longer have to occur on-chain obligatorily, but also can be carried out via the second layer Lightning Network if both chains support it (in fact the design of the Lightning network explicitly considers and enables these types of cross-chain exchanges).
In this talk, Johannes Zweng from Coinfinity shortly outlines the history of the idea of atomic cross-chain trades, how to construct them and what features a blockchain needs to support these and how they will work in the context of the Lightning Network.
BlockchainHub Graz: https://www.meetup.com/de-DE/BlockchainHub-Graz/
Johannes Zweng: https://johannes.zweng.at
Blockchain overview, use cases, implementations and challengesSรฉbastien Tandel
ย
Most know about Bitcoin, the well-known crypto-currency. Less know the details about the underlying and enabling technology, Blockchain.
Hopefully, this presentation provides enough insights to understand blockchain concepts and why it's perceived to potentially disrupt many market segments, from retail to governments, from finance to health care. At last, I hope to brush fairly the many challenges of this rather new technology.
Blockchains are distributed ledgers that use consensus protocols to track ownership or transactions across copies of the ledger maintained by members. A blockchain uses a consensus protocol like proof-of-work to agree on changes and additions to the distributed ledger. Membership in blockchains can be open to anyone, like in Bitcoin, or restricted to a fixed group. While blockchains provide advantages like distributed trust, achieving scalability is challenging due to the need for consensus among all members on every change.
Blockchain for Business Yale School of Management Dr John MaheswaranJohn M.
ย
The document provides an overview of blockchain technology and its applications for business. It begins with an introduction to blockchains and decentralized databases where each node stores the full transaction history. It then explains how blockchains work using Bitcoin as an example, outlining the process by which transactions are submitted, validated, and added to the blockchain in blocks. Applications of blockchain technology discussed include finance, supply chain, healthcare, and identity management. Challenges and opportunities for businesses adopting blockchain are also reviewed.
token btlcoin A certificate authority issues a software code, or token, to signer for use as a signature. If signer uses the certificate, the identity of signer is supported. A secure, tamper-sealed document. /s/ john hancock. Bitcoin. To understand Blockchain, you need to understand Bitcoin. Bitcoin is a cryptographic currency; Bitcoins are
token btlcoin secure, tamper-sealed document. /s/ john hancock. Bitcoin. To understand Blockchain, you need to understand Bitcoin. Bitcoin is a cryptographic currency; Bitcoins are
Introduction into blockchains and cryptocurrenciesSergey Ivliev
ย
Slides from my intro course:
- mapping the digital asset ecosystem (as of August 2019)
- how bitcoin works - step-by-step primer?
- hashrate, dollar value transferred, transaction rate and other metrics (as of August 2019)
- hard money, uncorrelated asset and other use cases
- proof-of-stake and proof-of-identity
- horizontal and vertical scaling
- how ethereum smart contracts work?
- ERC20 token standard
- boom and bust of the ICO market (as of August 2019)
- intro into #DeFI (as of August 2019)
- stablecoins
- MarkerDAO, Compound, Uniswap and other cool decentralized finance protocols
- Cryptokitties, Storj, Peepeth and examples of non-financial dapps
This document summarizes a talk on blockchain technology for developers. It discusses key concepts like digital signatures, cryptographic hash functions, Merkle trees, distributed consensus, and different failure models. It then covers the use of blockchains for applications like e-cash and titles. Specific blockchain protocols like Bitcoin and Ethereum are examined, looking at transactions, scripting, and addressing schemes. Scalability, off-chain solutions, and alternative consensus mechanisms are also addressed. The talk concludes with advice around building on existing frameworks rather than designing one's own crypto or blockchain from scratch.
Kristof V. explained the basics of blockchain and smart contracts. Starting with the mechanics of bitcoin (introduced by the 2009 paper of Satoshi Nakamoto) he explains concepts of pseudonymisation, encryption, blockchain, mining, and distribution. After skimming high-level through some use cases he moves to "(smart) contracts", using the example of an auction.
Link to examples of "smart contracts": https://dapps.ethercasts.com
Link to the event follow-up page: https://www.meetup.com/Brussels-Legal-Hackers/messages/boards/thread/50920056
Legal hackers: https://www.meetup.com/Brussels-Legal-Hackers
Blockchain is a distributed ledger technology that allows for the safe distribution of a ledger across multiple nodes. It works by having each transaction digitally signed and added in a "block" along with a proof of work. This prevents double spending and allows nodes to reach consensus on the transaction history without a centralized authority. Smart contracts enable decentralized applications to run transactions automatically according to the program. However, first generation blockchains face challenges around centralization, scalability, and smart contract quality. New solutions aim to address these through alternative consensus methods, off-chain transactions, and designed smart contract languages.
HASHED LOUNGE Presents: OpenST Mosaic - Scaling blockchain economies to billi...OST | Open Simple Token
ย
OST | Open Simple Token founders Jason Goldberg and Benjamin Bollen present at HASHED in Seoul, South Korea, on:
- Blockchain economies in historical contextโจ
- Barriers to mass adoptionโจ of blockchain
- The OpenST Mosaic Protocol for scaling blockchain economies on-chain to billions of users
The main things you need to know about blockchain:
+ What Is A Blockchain. Theory
+ Ordering Facts
+ Blocks
+ Mining
+ Money and Cryptocurrencies
+ Contracts
Consensus Algorithms - Nakov at CryptoBlockCon - Las Vegas (2018)Svetlin Nakov
ย
This document discusses various blockchain consensus algorithms, including Byzantine Fault Tolerance (BFT), Proof of Work (PoW), Proof of Stake (PoS), Delegated Proof of Stake (DPoS), and Asynchronous BFT (aBFT). It provides an overview of how each algorithm works, examples of blockchain systems that use each algorithm, and the advantages and disadvantages of each approach. In conclusion, it notes that there is no perfect consensus algorithm and that each has tradeoffs between decentralization, performance, and security.
Intro to Blockchain - And, by the way, what the heck is proof-of-work?Jim Flynn
ย
An overview of bitcoin and the blockchain with a more in-depth description of proof of work (POW). Conde samples used to demonstrate the concepts behind POW are available at http://jamespflynn.com.
This document proposes a hybrid Proof-of-Work/Proof-of-Stake consensus algorithm called Hyperchains. Hyperchains use a parent Proof-of-Work blockchain to secure and checkpoint a child Proof-of-Stake blockchain. The elections of validators on the child chain depend only on what happens on the parent chain. When a new keyblock is mined on the parent chain, eligible delegates on the child chain submit commitments to the parent chain acknowledging their view of the child chain. A transparent function then elects the new validator on the child chain based on stakes and commitments. This avoids problems with naive Proof-of-Stake by punishing voting on multiple forks and only considering the last commitment. Hyperchains
Blockchain Interoperability using Cosmos Interblockchain CommunicationChjango Unchained
ย
The Cosmos Network is the pioneer of blockchain interoperability, solving the current infrastructure and scalability issues the blockchain sector faces today. IBC is a protocol that the Cosmos Network is developing which will lead the ecosystem of siloed blockchains into a new, connected ecosystem of an Internet of Blockchains.
Weaving the ILP Fabric into Bigchain DBInterledger
ย
Dimitri De Jonghe presents on how Bigchain DB can use Interledger to connect disparate systems. Presented at the Interleder Workshop in London on 7/6/2016. Full presentation here: https://interledger.org/presentations/2016-07-06%20-%20ILP%20Workshop%20London%202016.pdf
A research-oriented introduction to the cryptographic currencies (starting wi...vpnmentor
ย
Presentation by Stefan Dziembowski, associate professor and leader of Cryptology and Data Security Group University of Warsaw. In BIU workshop on Bitcoin. Covered exclusively by vpnMentor.com
Consensus Algorithms - Nakov @ jProfessionals - Jan 2018Svetlin Nakov
ย
This document provides an overview of blockchain consensus algorithms including proof-of-work, proof-of-stake, delegated proof-of-stake, proof-of-authority, and PBFT. It discusses the requirements for consensus algorithms and describes how various popular cryptocurrencies implement different consensus mechanisms. Several Java-based blockchain projects are also mentioned, including IOTA, NEM, and TRON.
Proof-of-Stake & Its Improvements (San Francisco Bitcoin Devs Hackathon)Alex Chepurnoy
ย
This document discusses improvements to proof-of-stake consensus algorithms for cryptocurrencies. It begins with an introduction to the author and their areas of research interest. It then provides an overview of consensus algorithms, problems in distributed systems, and the history of Byzantine agreement and Bitcoin's consensus protocol. The majority of the document focuses on improvements to proof-of-stake protocols, including the use of multiple branching forging to improve security and the development of formal models and simulation tools to analyze consensus algorithms. It concludes by discussing the author's work on experimental cryptocurrency implementations using proof-of-stake variants.
Introduction to Blockchain & developmentAbdullah Aziz
ย
The document discusses blockchain concepts and provides a coding demonstration. It describes key blockchain characteristics like decentralization and immutability. It explains how hashing, Merkle trees, blocks and chains of blocks work to securely store transaction data. Forks that can occur when transactions conflict are also covered. The document differentiates between public and private blockchains. It then demonstrates coding a basic blockchain implementation, including functions for mining blocks and adding them to the peer-to-peer network.
"Atomic Swaps" allow two parties to exchange tokens from 2 separate blockchains without the need to trust each other or a third-party (like an exchange). In its most basic form both parties create transactions to their trading partner in a way that either outputs from both transactions or none of them can be spent (thus making the exchange of both cryptocurrencies atomic).
Since the activation of SegWit and the upcoming availability of the Lightning Network these types of swaps no longer have to occur on-chain obligatorily, but also can be carried out via the second layer Lightning Network if both chains support it (in fact the design of the Lightning network explicitly considers and enables these types of cross-chain exchanges).
In this talk, Johannes Zweng from Coinfinity shortly outlines the history of the idea of atomic cross-chain trades, how to construct them and what features a blockchain needs to support these and how they will work in the context of the Lightning Network.
BlockchainHub Graz: https://www.meetup.com/de-DE/BlockchainHub-Graz/
Johannes Zweng: https://johannes.zweng.at
Blockchain overview, use cases, implementations and challengesSรฉbastien Tandel
ย
Most know about Bitcoin, the well-known crypto-currency. Less know the details about the underlying and enabling technology, Blockchain.
Hopefully, this presentation provides enough insights to understand blockchain concepts and why it's perceived to potentially disrupt many market segments, from retail to governments, from finance to health care. At last, I hope to brush fairly the many challenges of this rather new technology.
Blockchains are distributed ledgers that use consensus protocols to track ownership or transactions across copies of the ledger maintained by members. A blockchain uses a consensus protocol like proof-of-work to agree on changes and additions to the distributed ledger. Membership in blockchains can be open to anyone, like in Bitcoin, or restricted to a fixed group. While blockchains provide advantages like distributed trust, achieving scalability is challenging due to the need for consensus among all members on every change.
Blockchain for Business Yale School of Management Dr John MaheswaranJohn M.
ย
The document provides an overview of blockchain technology and its applications for business. It begins with an introduction to blockchains and decentralized databases where each node stores the full transaction history. It then explains how blockchains work using Bitcoin as an example, outlining the process by which transactions are submitted, validated, and added to the blockchain in blocks. Applications of blockchain technology discussed include finance, supply chain, healthcare, and identity management. Challenges and opportunities for businesses adopting blockchain are also reviewed.
token btlcoin A certificate authority issues a software code, or token, to signer for use as a signature. If signer uses the certificate, the identity of signer is supported. A secure, tamper-sealed document. /s/ john hancock. Bitcoin. To understand Blockchain, you need to understand Bitcoin. Bitcoin is a cryptographic currency; Bitcoins are
token btlcoin secure, tamper-sealed document. /s/ john hancock. Bitcoin. To understand Blockchain, you need to understand Bitcoin. Bitcoin is a cryptographic currency; Bitcoins are
Introduction into blockchains and cryptocurrenciesSergey Ivliev
ย
Slides from my intro course:
- mapping the digital asset ecosystem (as of August 2019)
- how bitcoin works - step-by-step primer?
- hashrate, dollar value transferred, transaction rate and other metrics (as of August 2019)
- hard money, uncorrelated asset and other use cases
- proof-of-stake and proof-of-identity
- horizontal and vertical scaling
- how ethereum smart contracts work?
- ERC20 token standard
- boom and bust of the ICO market (as of August 2019)
- intro into #DeFI (as of August 2019)
- stablecoins
- MarkerDAO, Compound, Uniswap and other cool decentralized finance protocols
- Cryptokitties, Storj, Peepeth and examples of non-financial dapps
This document summarizes a talk on blockchain technology for developers. It discusses key concepts like digital signatures, cryptographic hash functions, Merkle trees, distributed consensus, and different failure models. It then covers the use of blockchains for applications like e-cash and titles. Specific blockchain protocols like Bitcoin and Ethereum are examined, looking at transactions, scripting, and addressing schemes. Scalability, off-chain solutions, and alternative consensus mechanisms are also addressed. The talk concludes with advice around building on existing frameworks rather than designing one's own crypto or blockchain from scratch.
Kristof V. explained the basics of blockchain and smart contracts. Starting with the mechanics of bitcoin (introduced by the 2009 paper of Satoshi Nakamoto) he explains concepts of pseudonymisation, encryption, blockchain, mining, and distribution. After skimming high-level through some use cases he moves to "(smart) contracts", using the example of an auction.
Link to examples of "smart contracts": https://dapps.ethercasts.com
Link to the event follow-up page: https://www.meetup.com/Brussels-Legal-Hackers/messages/boards/thread/50920056
Legal hackers: https://www.meetup.com/Brussels-Legal-Hackers
Blockchain is a distributed ledger technology that allows for the safe distribution of a ledger across multiple nodes. It works by having each transaction digitally signed and added in a "block" along with a proof of work. This prevents double spending and allows nodes to reach consensus on the transaction history without a centralized authority. Smart contracts enable decentralized applications to run transactions automatically according to the program. However, first generation blockchains face challenges around centralization, scalability, and smart contract quality. New solutions aim to address these through alternative consensus methods, off-chain transactions, and designed smart contract languages.
HASHED LOUNGE Presents: OpenST Mosaic - Scaling blockchain economies to billi...OST | Open Simple Token
ย
OST | Open Simple Token founders Jason Goldberg and Benjamin Bollen present at HASHED in Seoul, South Korea, on:
- Blockchain economies in historical contextโจ
- Barriers to mass adoptionโจ of blockchain
- The OpenST Mosaic Protocol for scaling blockchain economies on-chain to billions of users
Metadata in the Blockchain: The OP_RETURN ExplosionCoin Sciences Ltd
ย
With the addition of OP_RETURN outputs in version 0.9, it became possible to attach arbitrary pieces of information to bitcoin transactions. This turns bitcoin into a low-level communications protocol, just like TCP/IP, on which many new applications can be built.
Despite its powerful features, bitcoin is also limited, costly and inefficient compared to TCP/IP. After discussing which sorts of applications make this trade-off worthwhile, we talk about CoinSpark, a new open source protocol for enhancing bitcoin transactions, which makes extensive use of OP_RETURNs.
An introduction to Blockchain with underlying technology and current state of development. Various blockchain implementation such as public, private, and semi-private blockchain.
Statechains allow for the off-chain transfer of ownership of bitcoin UTXOs. This is done through the use of adaptor signatures and a "statechain entity" that maintains the statechain and guarantees on-chain redemption. Ownership can be transferred between parties off-chain through the use of transitory keys, with the current owner's permission required to spend. If the statechain entity fails to cooperate with the last owner, this constitutes fraud and can be proven on-chain. Statechains enable applications like lightning networks and cross-chain asset transfers through the swapping of UTXO amounts.
Blockchain 101 provides an overview of blockchain technology. It discusses the two main types of blockchains - public and private. Key events that drove blockchain interest include the 2008 Bitcoin whitepaper and Ethereum's launch in 2015. The technical underpinnings of blockchain, including hashing, Merkle trees, and proof of work are explained. Examples are given of how blockchain is being used or explored in areas like land registry, identity, shipping, and healthcare. The document recommends resources for learning more about blockchain and names several smart experts to follow.
Upgrading a permissionless, consensus-based distributed system like Bitcoin is extremely challenging due to its decentralized nature. Nodes cannot simply be forced to upgrade like in a permissioned system. Instead, upgrades must be implemented carefully as soft forks to maintain backward compatibility and avoid network splits. The transaction malleability problem and need for scaling led to the development of Segregated Witness, which moves signature data out of transactions to allow for soft-fork block size increases and prevent attacks on layer-2 solutions. Overall, distributed consensus systems require innovative technical solutions to upgrade protocols while preserving decentralization.
The document discusses the concept of "Layer 2" scaling solutions for Bitcoin. It provides background on how Bitcoin has changed since its inception, including the emergence of block explorers and mining pools. It then defines Layer 2 as building additional services on top of Bitcoin to improve scalability and usability, without requiring changes to the Bitcoin protocol. Examples of Layer 2 solutions mentioned include simplified payment verification and various block explorer APIs that lightweight wallets can use to access blockchain data without running a full node. The document argues that Layer 2 does not reduce security or decentralization and allows Bitcoin to scale in a way that is transparent to users.
THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...indexPub
ย
The recent surge in pro-Palestine student activism has prompted significant responses from universities, ranging from negotiations and divestment commitments to increased transparency about investments in companies supporting the war on Gaza. This activism has led to the cessation of student encampments but also highlighted the substantial sacrifices made by students, including academic disruptions and personal risks. The primary drivers of these protests are poor university administration, lack of transparency, and inadequate communication between officials and students. This study examines the profound emotional, psychological, and professional impacts on students engaged in pro-Palestine protests, focusing on Generation Z's (Gen-Z) activism dynamics. This paper explores the significant sacrifices made by these students and even the professors supporting the pro-Palestine movement, with a focus on recent global movements. Through an in-depth analysis of printed and electronic media, the study examines the impacts of these sacrifices on the academic and personal lives of those involved. The paper highlights examples from various universities, demonstrating student activism's long-term and short-term effects, including disciplinary actions, social backlash, and career implications. The researchers also explore the broader implications of student sacrifices. The findings reveal that these sacrifices are driven by a profound commitment to justice and human rights, and are influenced by the increasing availability of information, peer interactions, and personal convictions. The study also discusses the broader implications of this activism, comparing it to historical precedents and assessing its potential to influence policy and public opinion. The emotional and psychological toll on student activists is significant, but their sense of purpose and community support mitigates some of these challenges. However, the researchers call for acknowledging the broader Impact of these sacrifices on the future global movement of FreePalestine.
How Barcodes Can Be Leveraged Within Odoo 17Celine George
ย
In this presentation, we will explore how barcodes can be leveraged within Odoo 17 to streamline our manufacturing processes. We will cover the configuration steps, how to utilize barcodes in different manufacturing scenarios, and the overall benefits of implementing this technology.
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
ย
(๐๐๐ ๐๐๐) (๐๐๐ฌ๐ฌ๐จ๐ง ๐)-๐๐ซ๐๐ฅ๐ข๐ฆ๐ฌ
๐๐ข๐ฌ๐๐ฎ๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐๐ ๐๐ฎ๐ซ๐ซ๐ข๐๐ฎ๐ฅ๐ฎ๐ฆ ๐ข๐ง ๐ญ๐ก๐ ๐๐ก๐ข๐ฅ๐ข๐ฉ๐ฉ๐ข๐ง๐๐ฌ:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
๐๐ฑ๐ฉ๐ฅ๐๐ข๐ง ๐ญ๐ก๐ ๐๐๐ญ๐ฎ๐ซ๐ ๐๐ง๐ ๐๐๐จ๐ฉ๐ ๐จ๐ ๐๐ง ๐๐ง๐ญ๐ซ๐๐ฉ๐ซ๐๐ง๐๐ฎ๐ซ:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...TechSoup
ย
Whether you're new to SEO or looking to refine your existing strategies, this webinar will provide you with actionable insights and practical tips to elevate your nonprofit's online presence.
Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.pptHenry Hollis
ย
The History of NZ 1870-1900.
Making of a Nation.
From the NZ Wars to Liberals,
Richard Seddon, George Grey,
Social Laboratory, New Zealand,
Confiscations, Kotahitanga, Kingitanga, Parliament, Suffrage, Repudiation, Economic Change, Agriculture, Gold Mining, Timber, Flax, Sheep, Dairying,
Andreas Schleicher presents PISA 2022 Volume III - Creative Thinking - 18 Jun...EduSkills OECD
ย
Andreas Schleicher, Director of Education and Skills at the OECD presents at the launch of PISA 2022 Volume III - Creative Minds, Creative Schools on 18 June 2024.
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptxCapitolTechU
ย
Slides from a Capitol Technology University webinar held June 20, 2024. The webinar featured Dr. Donovan Wright, presenting on the Department of Defense Digital Transformation.
How to Download & Install Module From the Odoo App Store in Odoo 17Celine George
ย
Custom modules offer the flexibility to extend Odoo's capabilities, address unique requirements, and optimize workflows to align seamlessly with your organization's processes. By leveraging custom modules, businesses can unlock greater efficiency, productivity, and innovation, empowering them to stay competitive in today's dynamic market landscape. In this tutorial, we'll guide you step by step on how to easily download and install modules from the Odoo App Store.
8. Cross-Blockchain Communication Today
โข Assumption: (Most) permissionless blockchains are decentralized
โข How about the communication between these systems?
โข Centralized liquidity providers necessary
โข โTrustedโ 3rd parties (exchanges, โฆ)
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
9. Transfer via Liquidity Providers
Liquidity Provider (LP)
Bobโs BTC Wallet
Bobโs
BTC
Account
Bobโs
ETH
Account
Aliceโs ETH Wallet
LPโs
BTC Wallet
LPโs
ETH Wallet
LP fee
Tx fee Tx fee
BTCโs P2P Network ETHโs P2P NetworkTowards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
10. Properties Relevant for Interoperability
Interoperability
Privacy
Scalability
Security
Expressiveness
Transparency
Consensus Finality
(Simplified)
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
14. Atomic Cross-Chain Swaps
โข Operations on chain A and chain B have the same โtriggerโ
โข E.g. revealing of a hash preimage
โข Also referred to as Hash Locking
๏ Idea: Lock funds on A, while unlocking corresponding funds on B
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
15. BTC LTC
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
time
No broadcast
๏ No effect
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
16. s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
BTC LTC
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
time
No broadcast
๏ No effect
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
17. s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
BTC LTC
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
time
t1
No broadcast
๏ No effect
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
18. s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
BTC LTC
Tx2
๐ ๐๐๐ ๐ ๐ ๐ต, ๐๐ฑ๐
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
time
t1
No broadcast
๏ No effect
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
19. s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
BTC LTC
Tx2
๐ ๐๐๐ ๐ ๐ ๐ต, ๐๐ฑ๐
Tx1
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
time
t1
A can use Tx2
after ๐ก1to get
refund
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
20. BTC LTC
Tx2
๐ ๐๐๐ ๐ ๐ ๐ต, ๐๐ฑ๐
Tx1
t1
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
time
A can use Tx2
after ๐ก1to get
refund
t2
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
Tx3 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ด โจ
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
21. s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
BTC LTC
Tx2
๐ ๐๐๐ ๐ ๐ ๐ต, ๐๐ฑ๐
Tx1
Tx3 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ด โจ
Tx4
๐ ๐๐๐ ๐ ๐ ๐ด, ๐๐ฑ๐
t1
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
t2
time
A can use Tx2
after ๐ก1to get
refund
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
23. s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
BTC LTC
Tx2
๐ ๐๐๐ ๐ ๐ ๐ต, ๐๐ฑ๐
Tx1
Tx3 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ด โจ
Tx4
๐ ๐๐๐ ๐ ๐ ๐ด, ๐๐ฑ๐
Tx5 (spends Tx3 revealing s)
t1
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
t2
Tx3
time
A must spend
Tx3 before ๐ก2,
otherwise B
can claim
refund;
B must spend
Tx1 before ๐ก1,
otherwise A
can claim
refund
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
24. s ๏ ๐๐๐๐๐๐()
Tx1 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ต โจ
BTC LTC
Tx2
๐ ๐๐๐ ๐ ๐ ๐ต, ๐๐ฑ๐
Tx1
Tx3 ๏ if (๐ป ๐๐๐๐ข๐ก = ๐ป ๐ โง โ๐ ๐๐ ๐ด โจ
Tx4
๐ ๐๐๐ ๐ ๐ ๐ด, ๐๐ฑ๐
Tx5 (spends Tx3 revealing s)
Tx6 (spends Tx1 using s)
t1
Alice
(has BTC wants LTC)
Bob
(has LTC wants BTC)
t2
Tx3
time
Swap
completed!
Published to LTC
Published to BTC
Unpublished /
Sent directly to user
Legend
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
25. Interledger
Source:
Thomas, Stefan, and Evan Schwartz. "A protocol
for interledger payments." URL
https://interledger. org/interledger. pdf (2015).
โข โLedger-providedโ escrows
โข Lockbox ๏ unlock by proof that receiver
has received payment
โข Must be implemented on-chain
โข Atomic Mode:
โข Two-Phase Commit with N notaries
as coordinators (PBFT, โฆ)
๏ 3f + 1 honest notaries required
โข Global timeout
โข โFederatedโ
โข Universal mode: hash locking
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
26. Atomic Cross-Chain Swaps โ Proโs / Conโs
+ Atomicity
โข Swap only performed if both parties perform the necessary Tx on the respective chains
+ Both parties can withdraw funds after time limit in case of failure
- Funds locked until swap complete or time lock passed
โข DoS attacks possible
- Sender and Receiver must monitor both chains
โข N chains ๏ N running clients
โข Alternatively: Federated constructions (e.g. Interledger)
โข Potential use case for SPV-Proofs / NiPoPoWs
- Requires timely action from both parties
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
27. Atomic Cross-Chain Swaps - Properties
โข StatelessTransferred Information
โข Cryptographic (although other types also applicable)Validation
โข Bi-directionalDirection
โข OptionalTTP
โข ProbabilisticFinality Guarantees
โข Sender + Receiver online
Party Availability
Requirements
โข Limited to the least expressive chainโs scriptScript Expressiveness
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
28. Chain Relays
โข System inside chain A is able to read, interpret and validate
events/state of chain B.
๏ Idea: prove that a transaction occurred on chain A to release funds
on chain B.
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
29. BTC Relay
โข Smart Contract on ETH validating BTC
headers (like SPV Clients)
โข Headers fed to SC
โข Transactions in BTC can then be validated
โข Can notify swap contract that BTC has been
transferred
โข Validation must be possible on-chain
โข E.g. not feasible for Scrypt
โข Native support?
Source: http://btcrelay.org/
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
30. BTC Relay โ BTC Swap
Ethereum
Bitcoin
BTC Swap
Has BTC, wants ETH Has ETH, wants BTC
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
31. BTC Relay โ BTC Swap
Ethereum
1) Bob sends
๏ท ETH
๏ท Alice s ETH account
๏ท his BTC address
๏ท agreed exchange info
to escrow contract
Bitcoin
BTC Swap
Has BTC, wants ETH Has ETH, wants BTC
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
32. BTC Relay โ BTC Swap
Ethereum
1) Bob sends
๏ท ETH
๏ท Alice s ETH account
๏ท his BTC address
๏ท agreed exchange info
to escrow contract
Bitcoin
BTC Swap
2) Alice sends BTC to Bobโs address (TxBTC)
Has BTC, wants ETH Has ETH, wants BTC
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
33. BTC Relay โ BTC Swap
Ethereum
1) Bob sends
๏ท ETH
๏ท Alice s ETH account
๏ท his BTC address
๏ท agreed exchange info
to escrow contract
Bitcoin
BTC Swap
3) Alice calls
btcrelay.relayTx(TxBTC, addrBTCSwap)
2) Alice sends BTC to Bobโs address (TxBTC)
Has BTC, wants ETH Has ETH, wants BTC
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
34. BTC Relay โ BTC Swap
Ethereum
1) Bob sends
๏ท ETH
๏ท Alice s ETH account
๏ท his BTC address
๏ท agreed exchange info
to escrow contract
Bitcoin
BTC Swap
3) Alice calls
btcrelay.relayTx(TxBTC, addrBTCSwap)
2) Alice sends BTC to Bobโs address (TxBTC)
4) BTC Relay verifies TxBTC was
performed in Bitcoin
Has BTC, wants ETH Has ETH, wants BTC
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
35. BTC Relay โ BTC Swap
Ethereum
1) Bob sends
๏ท ETH
๏ท Alice s ETH account
๏ท his BTC address
๏ท agreed exchange info
to escrow contract
Bitcoin
BTC Swap
3) Alice calls
btcrelay.relayTx(TxBTC, addrBTCSwap)
2) Alice sends BTC to Bobโs address (TxBTC)
4) BTC Relay verifies TxBTC was
performed in Bitcoin
5) BTC Relay invokes
processTransaction() in
BTC Swap
Has BTC, wants ETH Has ETH, wants BTC
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
36. BTC Relay โ BTC Swap
Ethereum
1) Bob sends
๏ท ETH
๏ท Alice s ETH account
๏ท his BTC address
๏ท agreed exchange info
to escrow contract
Bitcoin
BTC Swap
3) Alice calls
btcrelay.relayTx(TxBTC, addrBTCSwap)
2) Alice sends BTC to Bobโs address (TxBTC)
4) BTC Relay verifies TxBTC was
performed in Bitcoin
5) BTC Relay invokes
processTransaction() in
BTC Swap
6) BTC Swap
releases payment to
Alice
Has BTC, wants ETH Has ETH, wants BTC
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
37. Chain Relays โ Proโs / Conโs
+ โNon-interactiveโ
โข Publicly verifiable computations in Smart Contracts
+ Multi-purpose
โข More use cases than 1:1 asset exchange
โข Events on chain A can trigger complex processes on chain B (e.g. for bribing miners [McCory et al. โ18])
- Relay contract must contain all headers of the connected chain
โข Ongoing research to reduce storage requirements / simplify proofing mechanism
- Sufficient incentive for users to submit block headers necessary
โข At least to cover gas costs
โข Working fee model necessary
- Currently no freshness guarantees
โข i.e., BTC relay may fall far behind Bitcoin
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
40. Meta-Layer Protocols
โข Introduce a second communication layer
โข Abstraction of blockchain-specific properties
โข Rely on game theoretic incentives
โข Interactions between different actors/roles
โข Utilize described mechanisms to integrate external chains
โข Notary schemes, chain relays, atomic swaps,โฆ
๏ โBridgesโ
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
41. Polkadot
โข One of Parityโs flagship projects
โข Two chain types:
โข Para(llel)chains โ globally-coherent dynamic data structures/blockchains
โข Relay chain(s) โ base communication/synchronization layer
โข Relay Chain consensus:
โข Initially: permissioned, i.e., 3f+1 BFT algorithm (e.g. HoneyBadgerBFT,
Tendermint, โฆ)
โข Planned: Delegated Proof-of-Stake (DPoS)
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
42. Polkadot - Relay Chains and Parachains
Source:
Wood, Gavin. "Polkadot: Vision for a heterogeneous multi-chain framework." URL
https://github.com/polkadot-io/polkadot-white-paper/raw/master/PolkaDotPaper.pdf (2016).
Relay Chain Parachain
n1
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
43. Relay Chain Parachain
mn
Polkadot - Relay Chains and Parachains
Source:
Wood, Gavin. "Polkadot: Vision for a heterogeneous multi-chain framework." URL
https://github.com/polkadot-io/polkadot-white-paper/raw/master/PolkaDotPaper.pdf (2016).Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
44. Polkadot - Relay Chains and Parachains
Source:
Wood, Gavin. "Polkadot: Vision for a heterogeneous multi-chain framework." URL
https://github.com/polkadot-io/polkadot-white-paper/raw/master/PolkaDotPaper.pdf (2016).
Chain
Relay Chain
connects to
m
n
Parachain
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
45. Polkadot - Relay Chains and Parachains
Source:
Wood, Gavin. "Polkadot: Vision for a heterogeneous multi-chain framework." URL
https://github.com/polkadot-io/polkadot-white-paper/raw/master/PolkaDotPaper.pdf (2016).
Chain
Relay Chain
connects to
m
n
Parachain
Transaction
Interchain On-chain
contains
1n
triggers
11
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
46. Polkadot - Actors
โข Validator
1. Validates parachain transactions/blocks
2. Agrees on interchain TX ๏ relay chain
validation
โข Stake slashed in case of misbehaviour
โข Nominator
โข Can provide stake for validator
โข Collator
โข Collects parachain TX and sends block
candidates to validators
โข Fisherman
โข Monitors validators for misbehaviour / Reports
to other validators
โข Clients/Light Clients
Source:
Wood, Gavin. "Polkadot: Vision for a heterogeneous multi-chain framework." URL
https://github.com/polkadot-io/polkadot-white-paper/raw/master/PolkaDotPaper.pdf (2016).Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
47. Polkadot - Actors
โข Relay Chain:
โข Validator
1. Validates parachain transactions/blocks
2. Agrees on interchain TX ๏ relay chain
validation
โข Stake slashed in case of misbehaviour
โข Nominator
โข Can provide stake for validator
โข Parachain
โข Collator
โข Collects parachain TX and sends block candidates
to validators
โข Fisherman
โข Monitors validators for misbehaviour / Reports
to other validators
โข Clients/Light Clients
Participant
ValidatorNominator FishermanCollator
Relay node
Para-node
stakes for
nm
monitors / reports failure
n m
provides parachain
blocks
n m
validates/
slashes
n
m
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
48. Polkadot โ Domain Overview (simplified)
Chain
Relay Chain Parachain
Participant
ValidatorNominator FishermanCollator
Transaction
Interchain
Transaction
Parachain
Transaction
triggers
11
Relay node
Para-node
has
1
connects to
m
n
n
1 1
n
stakes for
nm
monitors / reports failure
n m
provides parachain
blocks
n m
Participant/Transaction relations
omitted for simplicity
validates/
slashes
n
m
n
FIFO Transaction
Queue
contains
n
1
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
49. Polkadot - Challenges
โข Game theoretic incentives not sufficiently studied
โข Modelling of incentives and potential attacks necessary
โข High communication complexity
โข Extent of necessary overhead unclear
โข A lot of technical details still not clearly defined
โข How to maintain information on asset state after cross-chain TX?
โข Consensus finality ๏ what happens if parachains fork? Or relay chain forks?
โข Address/account scheme
โข Privacy features
โข โฆ.
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
50. Cosmos
โข Cosmos Hub and Zones (child blockchains)
โข Each Zone can become a hub in turn
โข Zones run Tendermint BFT (3f + 1)
โข Fixed known set of validators
โข Cross-chain communication similar to two-
way-peg
โข Bridges to other chains necessary (e.g. ETH)
โข Permissioned setup
โข Tested with 65 validator nodes
โข Initially 100, scale up to 300 within 10 years
Source:
Kwon, Jae, and Buchman, Ethan. โCosmos: A Network of Distributed
Ledgersโ. URL
https://github.com/cosmos/cosmos/blob/master/WHITEPAPER.md (2016)
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin
51. Outlook
โข Rapidly increasing number of projects promising โMulti-blockchain protocolsโ
โข Often limited technical details provided ๏ unclear how exactly communication will be
facilitated.
โข Many rely on versions of atomic swaps or chain relays under a (semi-) centralized setup
โข Active development
โข 1:1 Bridges between Ethereum and other networks in development
โข Lightning cross-chain swaps between BTC and LTC
โข Overlay protocols / Colored Coins
โข โฆ
โข No โtruly decentralizedโ solution yet
๏ Alarming shift towards centralized approaches
Towards a Generalised Blockchain Fabric - Code Block 18 - Alexei Zamyatin