DeFiChain – Beyond Meta Chain

Transcript

1. U-Zyn Chua
   Tech Talk
   
   
   Beyond Meta Chain
   

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2. What's coming up
   

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3. Quantum Bridge
   ERC20 bridge
   • dBTC <> WBTC (ERC20)
   
   
   • dETH <> ETH/WETH
   
   
   • dUSDT <> USDT
   
   
   • dUSDC <> USDC
   
   
   • DFI <> DFI ERC20
   

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4. DeFi Meta Chain
   EVM support
   https://github.com/DeFiCh/metachain
   

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5. • Seamless atomic token tx across
   Native <> Meta.
   
   
   • Full EVM compatibility
   
   
   • MetaMask compatibility
   
   
   • Native state availability on Meta
   

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6. DMC is huge
   Smart contracts
   
   
   Decentralized apps (dApps)
   
   
   NFTs
   
   
   Community projects
   
   
   More DeFi!
   

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7. What's next?
   

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8. Strengths of DeFiChain
   

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9. Native UTXO and EVM support
   Consensus layer
   

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10. Highly distributed nodes
    15 000 nodes globally
    

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11. Highly distributed nodes
    15 000 nodes globally
    BTC: ~10k nodes
    
    
    ETH: ~5k nodes
    

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12. Automation
    

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13. The Highway
    

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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.
    
    
    

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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.
    

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16. Automation upgrades
    Node sync has been getting slower.
    
    
    Automation to be upgraded to be more performance and scalable.
    

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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
    

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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.
    

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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.
    

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20. The Bridges
    

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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!
    

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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.
    

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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
    

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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.
    

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25. DeFiChain L2s
    Sharded Coupling Bridge
    
    
    Masternodes that participate earns witness rewards.
    
    
    Masternodes post collateral.
    
    
    * Masternodes that cheats get collateral slashed.
    

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26. The Space Elevators
    

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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.
    

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28. Core strength
    Automation
    
    
    Most EVM systems are lacking of
    automations.
    

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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.
    

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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.
    

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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.
    

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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
    

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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.
    
    
    

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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
    

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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?
    

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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
    

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37. ≠ roadmap
    But collection of features and upgrades for DeFiChain.
    Will be updated from time to time.
    

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38. Learn more.
    

    https://de
    f
    ichain.com
    

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