Microsoft leverages Ethereum and the implications thereof

https://www.meetup.com/Blockchain-Smart-Contracts-Seattle-Working-Group/events/251056076/

Transcript

1. Microsoft leverages Ethereum and the implications thereof Blockchain Smart Contracts - Seattle Working Group discussion topic: Research by Clive Boulton
2. Introducing Project "Bletchley" based on Ethereum Microsoft's blockchain architecture overview explains the evolution as history repeats itself. Azure/azure-blockchain-projects https://github.com/Azure/azure-blockchain-projects Privacy/Confidentiality in Hyperledger Smart Contracts https://wiki.hyperledger.org/groups/architecture/architecture-wg OneChain: Wanchain and Lanchain https://wanchain.org/files/Wanchain-Whitepaper-EN-version.pdf (Rivest)
3. Evolution
4. Microsoft adds Cryptlets In what is referred to as blockchain 1.0 & 2.0, if external data or events based on time or market conditions needs to interact with the blockchain, an “oracle” is required. There is no standard way to supply “oracle” data securely, which can quickly become an issue in multi-party Smart Contracts. Calling code or data outside a Smart Contract or blockchain in general is breaking the trust barrier threatening the authenticity of the dependent transactions. Cryptlets supply this functionality in Micrososoft’s design.
5. Blockchain 1.0 Simple State Machine Bitcoin
6. RDBMS evolved to include stored procedures RDBMS systems evolved to include logic in the form of stored procedures to assist with more complex data operations. Much like this, distributed ledgers have added a logic tier in the form of Smart Contracts. This code exists alongside the data in the database. This can be thought of as Blockchain 2.0. Ethereum, Eris and others fall into Blockchain 2.0
7. Blockchain 2.0 State Machine + Code Ethereum
8. Cryplets extend Ethereum Smart Contracts This added code is called SmartContracts. These SmartContracts operate just like tokenized programs, they have public keys just like any other thing on the network, however they have code and can “do” things like a stored procedure would. SmartContracts offer a lot of promise to create intelligent systems with self-enforcing contracts to allow business processes to operate independently.
9. Blockchain 3.0 State Machine + Code + Cryplets
10. Cryplets are building blocks for secure blockchain tier Cryptlets are the principal building blocks for introducing a secure blockchain middleware tier into the architecture. Given the distributed nature of blockchain, this middleware naturally functions as a service in the cloud (Azure/Azure Stack, AWS, Google, Private) and is more accurately called an Application Fabric.
11. Microsoft Blockchain Platform Strategy Enterprise smart contracts (a.k.a. cryptlets) When a Smart Contract needs to use a Cryptlet, a CryptoDelegate is called using aspects within the smart contract language, like Solidity. Blockchain Fabric w/ services - Identity - Cryptlet Services - Blockchain Gateway Services - Interledger - Managed and Operations
12. CryptoDelegate within smart contract, like Solidity.
13. Microsoft Coco Framework - cross-chain: Quorum, Corda, and Hyperledger Sawtooth. https://azure.microsoft.com/en-us/blog/announcing-microsoft-s-coco-framework-for-enterprise-block chain-networks/
14. Also discussed Oracles vs Cryplets ‘Smart Contract’ vs “SmartContract…” Consortium (cryptlets in depth) https://goo.gl/wdfh1S UI Direct-to-Contract Calls https://agoric.com/