U-Zyn ChuaTech TalkBeyond Meta Chain
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What's coming up
Quantum BridgeERC20 bridge• dBTC <> WBTC (ERC20)• dETH <> ETH/WETH• dUSDT <> USDT• dUSDC <> USDC• DFI <> DFI ERC20
DeFi Meta ChainEVM supporthttps://github.com/DeFiCh/metachain
• Seamless atomic token tx acrossNative <> Meta.• Full EVM compatibility• MetaMask compatibility• Native state availability on Meta
DMC is hugeSmart contractsDecentralized apps (dApps)NFTsCommunity projectsMore DeFi!
What's next?
Strengths of DeFiChain
Native UTXO and EVM supportConsensus layer
Highly distributed nodes15 000 nodes globally
Highly distributed nodes15 000 nodes globallyBTC: ~10k nodesETH: ~5k nodes
Automation
The Highway
Blocktime improvementsToday:• 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.
UTXO/account upgradesSimplify UTXO/account handling.Reduce from 3 states: UTXO, native DST, DST20,to 2 states: Native DST and DST20.Safer accounting system at native.
Automation upgradesNode sync has been getting slower.Automation to be upgraded to be more performance and scalable.
State relayerStates 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
State relayer2 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.
State relayer2 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.
The Bridges
Why bridge?Liquidity across multiple blockchains are key.Gone are the days of Bitcoin killers, Ethereum killers.Liquidities are key, especially for decentralizedfinance!DeFiChain is the layer 2 – the bridges to key blockchains!
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.
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
DeFiChain L2sSharded Coupling BridgeEach masternode sees DeFiChain + 1 more chain, e.g. DeFiChain + Ethereum e.g. DeFiChain + SolanaProvides witness to token transfers. Facilitates token minting, burning and unlocking.
DeFiChain L2sSharded Coupling BridgeMasternodes that participate earns witness rewards.Masternodes post collateral.* Masternodes that cheats get collateral slashed.
The Space Elevators
Space ElevatorA space elevator, also referred to as a spacebridge, star ladder, and orbital lift is a proposed type of planet-to-spacetransportation system, often depicted insciencefiction.
Core strengthAutomationMost EVM systems are lacking ofautomations.
Automation vendorAlong with Sharded Coupling Bridge, DeFiChain can be anautomation vendor for other blockchains.Why? e.g. liquidation trigger, conditional execution, etc.
Automation vendorHow? dApps from other blockchains pay for automation.Masternode checks for automation conditions. If condition is unmet, claim condition check fees per block. Tinyamount.If condition is met, execute on other blockchain.
Automation vendorSharded coupling bridge provides confirmation on accurateautomation trigger, masternodes get rewarded more. Paid from theprepaid dApp pool.What this means?Higher DeFiChain staking rewards.Through Real DeFi, not inflation.
Key problem for smart contracts –unable to hold secrets on smartcontracts.Which means, no private keys, no autounlocking of funds, etc.Secrets vendor
Secrets vendorCoupling 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. Verifiable secret sharing.
Usable by smart contracts from other blockchains to unlock vaultswhen conditions are met, without revealing its secrets.Payload are signed in a distributed manner, without any nodeshaving the full private key.*Early idea. Further research warranted.Secrets vendor
• Storage vendor?• Node provides callable and referable storage by smartcontracts 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 orFrance have won the World Cup?"Marketplace for blockchains?
• Highly distributed node count of DeFiChain allows for veryversatile vendor marketplace, without requiring all nodes toprovide the same service.• Service health depends on node counts.• Service able to incentivize nodes to support.Marketplace for distributed nodes
≠ roadmapBut collection of features and upgrades for DeFiChain.Will be updated from time to time.
Learn more. https://defichain.com