Zilliqa Next Gen High Throughput Blockchain Platform

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“ ” ZILLIQA /‘ZILIKƏ/ NEXT GEN HIGH-THROUGHPUT BLOCKCHAIN PLATFORM DONG XINSHU, CEO JIA YAOQI, BLOCKCHAIN ARCHITECT ZILLIQA.COM @ZILLIQA

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“ ” SCALABILITY OF PUBLIC BLOCKCHAIN BITCOIN 7 TX/S ZILLIQA.COM @ZILLIQA ETHEREUM 10 TX/S VISA 8000 TX/S

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“ ” SOME EXISTING SOLUTIONS ZILLIQA.COM @ZILLIQA

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“ ” INCREASING BLOCK SIZE? NOT A 100X SCALING FACTOR, DUE TO COMPUTATIONAL AND BANDWIDTH LIMITATIONS ZILLIQA.COM @ZILLIQA

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“ ” OFF-CHAIN TRANSACTIONS MORE APPLICABLE TO PAYMENTS OPENNESS? TRANSPARENCY? DECENTRALIZATION? ZILLIQA.COM @ZILLIQA Raiden Network

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1,800 NODES 2,400 NODES 3,600 NODES 3 SHARDS 4 SHARDS 6 SHARDS 1,218 1,752 2,488 INCREASING THROUGHPUT ZILLIQA: SCALES WITH NETWORK SIZE ZILLIQA.COM @ZILLIQA

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DEEP TECH MEETS VENTURE CREATORS & FINANCIAL VETERANS “ ” ZILLIQA.COM @ZILLIQA

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WE HAVE PUT THEORY INTO PRACTICE ZILLIQA.COM @ZILLIQA “ ” A SECURE SHARDING PROTOCOL FOR OPEN BLOCKCHAINS (2015) LOI LUU, PRATEEK SAXENA

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PRIOR DEPLOYMENT “ ” OTC TRADING: A TRIAL WITH A REGIONAL EXCHANGE & BANKS PRICE/PARTICIPANT DISCOVERY, SETTLEMENT, ANONYMITY “ ” DEPLOYING FOR AN E-COMMERCE APPLICATION IN SHIPPING INEFFICIENCY, DISPUTES, DELAYS ZILLIQA.COM @ZILLIQA

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ZILLIQA: A NEW PUBLIC BLOCKCHAIN “ ” ZILLIQA.COM @ZILLIQA DATA-FLOW & SHARDING-FRIENDLY SMART CONTRACTS MINER FRIENDLY: LOWER COST, STABLE REWARDS, COMPATIBLE TO ETHASH 200X AND MORE HIGHER THROUGHPUT, BUILT TO SCALE MUCH LOWER TX FEE FOR USERS

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ZILLIQA.COM @ZILLIQA “ ” dAPPS ENABLED BY ZILLIQA

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ZILLIQA.COM @ZILLIQA “ ” DIGITAL ADVERTISING MULTIPLE CHALLENGES, INCLUDING: INEFFICIENCY FRAGMENTATION AD FRAUD: $16.4BN/YR AD BLOCKING: $41.4BN/YR MANY MIDDLE LAYERS NON-COMPLIANCE TO COPYRIGHTS

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ZILLIQA.COM @ZILLIQA “ ” BLOCKCHAIN-BASED ADVERTISING SUPPLY CHAIN MARKETERS DEMAND SMART CONTRACTS IMPRESSION VOLUME DELIVER DEADLINE TARGETED GROUPS OF USERS GEOGRAPHIC RESTRICTIONS PUBLISHERS SUPPLY SMART CONTRACTS SMART CONTRACTS ARE MATCHED AND AUDITED IMPRESSIONS SATISFACTION OF DEMANDS PAYMENTS INVENTORY AVAILABLE INVENTORY DESCRIPTORS

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ZILLIQA.COM @ZILLIQA “ ” BLOCKCHAIN-BASED ADVERTISING SUPPLY CHAIN BENEFITS TRANSPARENT ADVERTISING NETWORK OPEN MARKET ANALYSIS ENSURE TIMELINESS OF ADS CONTENT DELIVERY ACCOUNTABILITY RESPONSIBLE CONTENT DELIVERY

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ZILLIQA.COM @ZILLIQA “ ” REQUIREMENTS FOR BLOCKCHAIN CORRECTNESS & FAIRNESS HIGH VOLUME TRANSACTIONS REAL TIME PARALLEL BIDDING SCALABLE THROUGHPUT WITH NETWORK SHARDING EFFICIENT PROCESSING WITH COMPUTATIONAL SHARDING DATA-FLOW SMART CONTRACTS SIMPLE ABSTRACTIONS AMENABLE TO VERIFICATION VOLUME MISMATCH BILLIONS OF ADS/DAY VS. 1 MILLION TXS/DAY ON ETHEREUM SMART CONTRACTS TOO COMPLEX TO REASON ABOUT

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ZILLIQA.COM @ZILLIQA “ ” PARTNERSHIP WITH MINDSHARE

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ZILLIQA.COM @ZILLIQA “ ” dAPPS OTHER PARALLEL AUCTIONS PAYMENT NETWORKS SHARED ECONOMY SCIENTIFIC COMPUTING HIGH ASSURANCE COMPUTATION

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ZILLIQA.COM @ZILLIQA “ ” TECH OVERVIEW

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“ ” NETWORK SHARDING DIVIDE AND CONQUER IN PARALLEL CONQUER  A DEDICATED GROUP COMBINES OUTPUTS FROM EACH SHARD AND REACHES CONSENSUS ON IT. DIVIDE NETWORK DIVIDED INTO GROUPS, CALLED SHARDS EACH SHARD RUNNING CONSENSUS PROTOCOL ZILLIQA.COM @ZILLIQA

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ZILLIQA.COM @ZILLIQA “ ” SAFE & EFFICIENT CONSENSUS KEY INGREDIENTS PRACTICAL BYZANTINE FAULT TOLERANCE 01 Immediate finality of blocks High message complexity COLLECTIVE SIGNING 02 Highly efficient signature scheme for multiple parties Same signature size for 1 or N parties ZILLIQA’S CONSENSUS PROTOCOL 03 PBFT + Collective Signing Security & performance enhancements

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ZILLIQA.COM @ZILLIQA “ ” Diving Deeper

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“ ” NETWORK SHARDING ZILLIQA.COM @ZILLIQA

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“ MINE (POW) TO JOIN THE NETWORK ZILLIQA.COM @ZILLIQA ”

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“ NODES RANDOMLY DISTRIBUTED TO SHARDS ZILLIQA.COM @ZILLIQA ”

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“ ” TRANSACTION SHARDING ZILLIQA.COM @ZILLIQA BASED ON THE SENDER’S ADDRESS 01 02 03

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ZILLIQA.COM @ZILLIQA “ ” CONSENSUS ON TRANSACTIONS SUBMIT TO DS SHARD 02 01 03 Header A Header B

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ZILLIQA.COM @ZILLIQA “ CONSENSUS PROTOCOL Consensus Protocol Nakamoto PBFT EFFICIENT ENERGY SAVING FINALITY ” Pre-Prepare Prepare Commit Reply Request Block 3 Block 2 Block 1 Block 4

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ZILLIQA.COM @ZILLIQA “ SIGNATURE AGGREGATION Digital Signature Signature Scheme ” Multi Signature SMALL SIG SIZE LOW COMM OVERHEAD

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ZILLIQA.COM @ZILLIQA “ CONSENSUS AND SIGNATURE AGGREGATION Consensus Protocol Nakamoto PBFT Digital Signature Signature Scheme EFFICIENT ENERGY SAVING FINALITY ” Multi Signature SMALL SIG SIZE LOW COMM OVERHEAD

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ZILLIQA.COM @ZILLIQA “ ” CONSTRUCT & BROADCAST FINAL BLOCK BROADCAST TO NODES

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ZILLIQA.COM @ZILLIQA “ ” EXCHANGE VALID TRANSACTIONS EXCHANGE TRANSACTIONS ACROSS SHARDS 02 03

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ZILLIQA.COM @ZILLIQA “ ” PROFITABLE MINING & LOW-COST USAGE LOWER ENERGY COST STABLE REWARDS LOWER TX FEE PoW only used for sybil defense; not consensus More even payout with lower variance Users no longer need to compete for the few Tx/s

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ZILLIQA.COM @ZILLIQA “ ” SMART CONTRACTS

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ZILLIQA.COM @ZILLIQA “ ” INCIDENTS WITH SMART CONTRACTS $60 MIL STOLEN $300 MIL FROZEN

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ZILLIQA.COM @ZILLIQA “ ” CAUSES COMPLEXITY EXPECTED VS UNEXPECTED BEHAVIOR NO FORMAL VERIFICATION

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ZILLIQA.COM @ZILLIQA “ ” SCILLA AUTOMATA-BASED LANGUAGE Press for 1s Press Press Press for 2 s NON-TURING COMPLETE AMENABLE TO FORMAL VERIFICATION CLEAN SEPARATION: COMMUNICATION VS COMPUTATION DECIDABLE CONTRACTS OFF DIM BRIGHT

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ZILLIQA.COM @ZILLIQA “ ” KICKSTARTER IN SCILLA transition Donate (sender : address, value : uint, tag : string) IMMUTABLE PARAMS contract Crowdfunding (owner : address, deadline : uint, goal : unit) MUTABLE STATE backers : address 㱺 uint = []; success : boolean = false; STATE TRANSITIONS transition Reclaim (sender : address, value : uint, tag : string)

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function reclaim { uint amount = backers[msg.sender] if(msg.sender.call.value(amount) == false) throw // reset the amount for sender backers[msg.sender] = 0; } “ ” DAO INCIDENT SEND CALLBACK INSTRUCTION NEVER EXECUTED SOLIDITY

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“ ” PREVENTING DAO INCIDENT SECURITY RECOMMENDATION // THIS CONTRACT HAS A BUG, DO NOT USE function reclaim { uint amount = backers[msg.sender]; if(msg.sender.call.value(amount) == false) throw // reset the amount for sender backers[msg.sender] = 0; } // SAFE TO USE function reclaim { uint amount = backers[msg.sender]; backers[msg.sender] = 0; msg.sender.transfer(amount); } CHECKS-EFFECTS-INTERACTIONS

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“ ” PREVENTING DAO INCIDENT AT THE LANGUAGE LEVEL transition Reclaim // Check if the sender is eligible to reclaim if ( … ) send (, MT) else // remove sender from the list let v = get(backers, sender) in backers := remove(backers, sender); send (, MT) SCILLA SOLIDITY EXTERNAL CALLS ALWAYS HAPPEN AT THE END REENTRANCY FREE // SAFE TO USE function reclaim { uint amount = backers[msg.sender]; backers[msg.sender] = 0; msg.sender.transfer(amount); }

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Lemma 3: Each contributor is refunded the right amount. Lemma 1: Contract will have enough funds to refund. ZILLIQA.COM @ZILLIQA “ ” FORMAL VERIFICATION USING COQ SCILLA + COQ Lemma 2: Contract will not alter its contribution records.

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ZILLIQA.COM @ZILLIQA “ ” ONGOING WORK SHARDING- FRIENDLY SOLIDITY-LIKE SYNTAX FOR PROGRAMMERS WORK WITH COMPUTATIONAL SHARDING FOR BUDGETED SECURITY

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ZILLIQA.COM @ZILLIQA “ ” NEXTSTEPS

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ZILLIQA.COM @ZILLIQA “ ” WHERE ARE WE NOW? 2,488 TX/S FOR 3,600 NODES MORE FEATURES UNDERWAY INTENSIVE TESTING & OPTIMISATION SMART CONTRACT SPECS WORKING PROTOTYPE TESTED ON AWS EC2

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ZILLIQA.COM @ZILLIQA “ ” NEAR TERM ROADMAP RELEASING TESTNET V1.0 Q1 2018 SMART CONTRACT ALPHA Q2 2018 RELEASING TESTNET V2.0 Q2 2018 SMART CONTRACT BETA Q3 2018 MAIN NET LAUNCH Q3 2018 ANCHOR APP RELEASE Q4 2018 SOURCE CODE RELEASE Q1 2018

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ZILLIQA.COM @ZILLIQA “ ” FUTURE PLANS CONTINUAL RESEARCH & DEVELOPMENT EXPLORE WAYS TO SUPPORT DAPPS FROM OTHER CHAINS RESEARCH COLLABORATION WITH COMMUNITIES

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ZILLIQA/‘ZILIKƏ/ NEXT GEN HIGH-THROUGHPUT BLOCKCHAIN PLATFORM Q&A Slack: https://invite.zilliqa.com Telegram: @zilliqachat Join our Slack & Telegram ZILLIQA.COM @ZILLIQA [email protected] Join our team [email protected]