DeFiChain – Beyond Meta Chain

Transcript

1. U-Zyn Chua Tech Talk Beyond Meta Chain
2. What's coming up
3. Quantum Bridge ERC20 bridge • dBTC <> WBTC (ERC20) • dETH <> ETH/WETH • dUSDT <> USDT • dUSDC <> USDC • DFI <> DFI ERC20
4. DeFi Meta Chain EVM support https://github.com/DeFiCh/metachain
5. • Seamless atomic token tx across Native <> Meta. • Full EVM compatibility • MetaMask compatibility • Native state availability on Meta
6. DMC is huge Smart contracts Decentralized apps (dApps) NFTs Community projects More DeFi!
7. What's next?
8. Strengths of DeFiChain
9. Native UTXO and EVM support Consensus layer
10. Highly distributed nodes 15 000 nodes globally
11. Highly distributed nodes 15 000 nodes globally BTC: ~10k nodes ETH: ~5k nodes
12. Automation
13. The Highway
14. Blocktime improvements Today: • 30 secs block today. • Wait time is generally 2-3 minutes because blocks comes in batches. Improvements: • 5-10 secs blocks • Important for DMC usability.
15. UTXO/account upgrades Simplify UTXO/account handling. Reduce from 3 states: UTXO, native DST, DST20, to 2 states: Native DST and DST20. Safer accounting system at native.
16. Automation upgrades Node sync has been getting slower. Automation to be upgraded to be more performance and scalable.
17. State relayer States exists on Native. LM and native DeFi are on Native. Smart contracts on DMC cannot interact with the states at Native. => State relayer. 2 stages
18. State relayer 2 states of state relayer: Stage 1: - Available as soon as DMC is live, oracle-based. - Callable from Solidity (EMV). - Smart contracts are able to get states such as: - DUSD negative rates - Native oracle prices - Native DEX states, etc.
19. State relayer 2 states of state relayer: Stage 2: - Consensus-based - No oracles needed. - Backward support for smart contracts using Stage 1 state relayers. - Solidity upgrade to support native state reference.
20. The Bridges
21. Why bridge? Liquidity across multiple blockchains are key. Gone are the days of Bitcoin killers, Ethereum killers. Liquidities are key, especially for decentralized f inance! DeFiChain is the layer 2 – the bridges to key blockchains!
22. L2s – how can we do better? Look into our core strength. Number of masternodes. * High global distribution count. * With collaterals – useful for policing. Native UTXO + EVM support.
23. L2s – how can we do better? Bridges rely on validators for witness. Most bridges today rely on small number of validators. Problems: * Collusion * Not so decentralized
24. DeFiChain L2s Sharded Coupling Bridge Each masternode sees DeFiChain + 1 more chain, 
 e.g. DeFiChain + Ethereum 
 e.g. DeFiChain + Solana Provides witness to token transfers. 
 Facilitates token minting, burning and unlocking.
25. DeFiChain L2s Sharded Coupling Bridge Masternodes that participate earns witness rewards. Masternodes post collateral. * Masternodes that cheats get collateral slashed.
26. The Space Elevators
27. Space Elevator A space elevator, also referred to as a space bridge, star ladder, and orbital lift 
 
 is a proposed type of planet-to-space transportation system, often depicted in science f iction.
28. Core strength Automation Most EVM systems are lacking of automations.
29. Automation vendor Along with Sharded Coupling Bridge, DeFiChain can be an automation vendor for other blockchains. Why? e.g. liquidation trigger, conditional execution, etc.
30. Automation vendor How? dApps from other blockchains pay for automation. Masternode checks for automation conditions. 
 If condition is unmet, claim condition check fees per block. Tiny amount. If condition is met, execute on other blockchain.
31. Automation vendor Sharded coupling bridge provides con f irmation on accurate automation trigger, masternodes get rewarded more. Paid from the prepaid dApp pool. What this means? Higher DeFiChain staking rewards. Through Real DeFi, not in f lation.
32. Key problem for smart contracts – unable to hold secrets on smart contracts. Which means, no private keys, no auto unlocking of funds, etc. Secrets vendor
33. Secrets vendor Coupling Bridge of DeFiChain can be utilized for it. Secrets are split into shares & randomly distributed. Secrets are repeatedly tested to ensure nodes still have them. Test does not reveal secrets. Veri f iable secret sharing.
34. Usable by smart contracts from other blockchains to unlock vaults when conditions are met, without revealing its secrets. Payload are signed in a distributed manner, without any nodes having the full private key. *Early idea. Further research warranted. Secrets vendor
35. • Storage vendor? • Node provides callable and referable storage by smart contracts on other chains. • AI vendor? • Deterministic AI blockchain? • Each usage trains it. • Resolves hypothetical questions deterministically. 
 
 "If it were a sudden death rule with no time limit for tie breaker, would Argentina or France have won the World Cup?" Marketplace for blockchains?
36. • Highly distributed node count of DeFiChain allows for very versatile vendor marketplace, without requiring all nodes to provide the same service. • Service health depends on node counts. • Service able to incentivize nodes to support. Marketplace for distributed nodes
37. ≠ roadmap But collection of features and upgrades for DeFiChain. Will be updated from time to time.
38. Learn more. 
 https://de f ichain.com