blockchain super conference 2018token owners to do so, since the practical utility of existing...
TRANSCRIPT
Taking Smart Contracts Beyond Tokenization
Blockchain Super Conference 2018
(smartcontract.com)
Industry-wide Interoperability
Fully Automated
Bank Processes
Faster Dispute Resolutions
Most All MarketRegulators
All Data Providers
Public Oversight
Smart Contracts Create Reliable Agreements
Smart Contract: a digital agreement that is tamper-proof, because it is run on a decentralized computing network.
Allowing both parties to trust the contract’s execution,
because both can observe it, while neither of them controls it.
Executing Digital Agreements Today
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Executing Digital Agreements Today
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Operations
Finance
Compliance
Legal
Operations
Finance
Compliance
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Executing Digital Agreements Today
Legal
Operations
Finance
Compliance
Legal
Operations
Finance
Compliance
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Executing Digital Agreements Today
Legal
Operations
Finance
Compliance
Legal
Operations
Finance
Compliance
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Executing Digital Agreements Today
Legal
Operations
Finance
Compliance
Legal
Operations
Finance
Compliance
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EU MarketRegulator
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A Shared Contract Execution Infrastructure
Industry-wide Interoperability
Fully Automated
Bank Processes
Faster Dispute Resolutions
Most All MarketRegulators
All Data Providers
PublicOversight
Overcoming Risks of New Software Delivery
We heard the same concern over and over
again: a panic over giving up control. ~Marc Benioff (Salesforce Founder)
Reaching a Tipping Point in Software Delivery
Journal of Digital Asset Management: Saugatuck Technology: http://www.palgrave-journals.com/dam/journal/v3/n4/fig_tab/3650088f1.html
The Key Features for Large Scale Adoption:
• Connectivity to Key Inputs and Outputs
• Privacy of Smart Contract Terms
• Scalability of Smart Contract Networks
proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
The Key Features for Large Scale Adoption:
• Connectivity to Key Inputs and Outputs
• Privacy of Smart Contract Terms
• Scalability of Smart Contract Networks
proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
The Key Features for Large Scale Adoption:
• Connectivity to Key Inputs and Outputs
• Privacy of Smart Contract Terms
• Scalability of Smart Contract Networks
The Smart Contract Connectivity Problem
Smart Contracts are unable to connect with external data, or any other off-chain resources on their own.
80%+ of smart contract use cases need external resources
Blockchain Middleware Creates Connectivity
Connect Smart Contracts to critical external data, so they can include real world events.
Blockchain Middleware Creates Connectivity
Connect Smart Contracts to critical external data, so they can include real world events.
Connect Smart Contracts to widely accepted bank payments
so they can pay in local currencies.
Connect Smart Contracts from different networks to each other
for critical combined functionality.
Centralized Oracles are a Point of Failure
CentralizedOracle
DecentralizedComputation
Data Sources
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Centralized Oracles are a Point of Failure
CentralizedOracle
DecentralizedComputation
Data Sources
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Thousandsof Nodes doComputation
OneNode as a Trigger
Centralized Oracles are a Point of Failure
CentralizedOracle
DecentralizedComputation
Data Sources
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Thousandsof Nodes doComputation
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OneNode as a Trigger
A Secure Decentralized Oracle Network
DecentralizedOracle Network
DecentralizedComputation
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A Secure Decentralized Oracle Network
DecentralizedOracle Network
DecentralizedComputation
Data Providers
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A Secure Decentralized Oracle Network
DecentralizedOracle Network
DecentralizedComputation
Data Providers
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Off-chain Payments in Widely Accepted Formats
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proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
The Short-Term Path to Key Features
• Connectivity = Use an Oracle/ChainLink
• Privacy = Part of Agreement Off-chain
• Scalability = Off-chain Computation
ChainLink Nodehttps://github.com/smartcontractkit/chainlink
ChainLink White Paperhttps://link.smartcontract.com/whitepaper
The ChainLink Node Alpha is Live
ChainLink’s Use of Trusted Hardware
A Secure Decentralized Oracle Network
DecentralizedOracle Network
DecentralizedComputation
Data Providers
0 0 1 0 1 0 111 0 0
0 0 1 0 1
0 11 0 0 1 0 1 0 0 10 0 1 0 1
0 0 1 0 1
0 0 1 0 1
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00101011011000101100
001010110110011100
Off-chain Payments in Widely Accepted Formats
Trusted Hardware
TownCrier: Intel SGX Secured Oracles
TownCrier: Intel SGX Secured Oracles
TownCrier: Intel SGX Secured Oracles
Side Loading Off-chain Computations into SGX
Activating the Side Loaded Computation
Payment & Schedule
Verifying the Side Loaded Queries from SGX
Payment & Schedule
Writing Oracle instructions in EVM Code function decryptCoinbaseCredentials(bytes _data) { decryptID = decrypter.request(this, bytes4(keccak256('getCoinbasePrice(uint256,bytes)')), _data); }
function getCoinbasePrice(uint256 _requestID, bytes _key) public { require(_requestID == decryptID && msg.sender == address(decrypter));
string memory queryStart = "['curl https://api.coinbase.com/v2/prices/BTC-USD/buy',[],[],['Authorization: Bearer "; string memory queryEnd = "'],['json$/data/amount>>string'],0]"; bytes memory query = bytesConcat(bytes(queryStart), _key); query = bytesConcat(query, bytes(queryEnd));
coinbaseID = townCrier.request(21, this, bytes4(keccak256('coinbaseCallback(int256,uint256)')), 0, query); }
function coinbaseCallback(int _requestID, string _price) public { require(_requestID == coinbaseID && msg.sender == address(townCrier)); coinbasePrice = stringToUint(_price); compareAverage();
Benefits of Off-chain Computation in SGX
• Scalable smart contract code execution off-chain
• Privacy for smart contract code
• Smart Contracts can control private keys off-chain
• Securely connect to native OS resources
proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
Benefits of Off-chain Computation in SGX
• Scalable smart contract code execution off-chain
• Privacy for smart contract code
• Smart Contracts can control private keys off-chain
• Securely connect to native OS resources
proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
Benefits of Off-chain Computation in SGX
• Scalable smart contract code execution off-chain
• Privacy for smart contract code
• Smart Contracts can control private keys off-chain
• Securely connect to native OS resources
proceeds. By purchasing LINK, you acknowledge that you understand and have no objection to these procedures and material specifications.
5. LINK Discontinuance and Conversion
(a) LINK are being created as ERC-20 or ERC-223 tokens on the Ethereum protocol. We reserve the right to migrate the ERC-20 based Tokens (the “Existing Tokens”) to another protocol, at our discretion, and to generate replacement LINK on the new protocol (the “Replacement Tokens”) in the future, should we determine, in our sole discretion, that doing so is necessary or useful to the operation of the Ecosystem.
(b) Should we decide to migrate LINK to a new protocol, we may no longer provide support for the Existing Tokens relating to the Ecosystem, the Services, or any other operational matters, except with respect to the migration process. Although Company does not at this time anticipate that it will require any Existing Token holders to convert their Existing Tokens to Replacement Tokens, Company anticipates there will be significant incentives for Existing Token owners to do so, since the practical utility of Existing Tokens will likely diminish rapidly once the Replacement Tokens are created and in use by a significant portion of Ecosystem participants. Accordingly, by accepting these Terms you acknowledge and agree that in order for you to continue to participate in the Ecosystem or obtain utility from LINK you may need to convert the LINK you purchase during the sale to Replacement Tokens in the future.
(c) Should we decide to migrate LINK to a new protocol, we will notify you by public announcement.
6. Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing LINK, holding LINK, and using LINK in connection with the Services, as further disclosed and explained in Exhibit C . If you have any questions regarding these risks, please contact [email protected]. BY PURCHASING LINK, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS, AND ARE CERTIFYING THAT YOU DO NOT RESIDE IN AND ARE NOT A CITIZEN OF THE UNITED STATES.
7. Security
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold LINK you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your LINK. We disclaim any responsibility for any such losses.
8. Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws, rules or regulations in connection with
Benefits of Off-chain Computation in SGX
• Scalable smart contract code execution off-chain
• Privacy for smart contract code
• Smart Contracts can control private keys off-chain
• Securely connect to native OS resources
Connecting the EVM to Native Resources
Responses from Native Resources to the EVM
ChainLink:https://link.smartcontract.com/whitepaper
TownCrier: https://eprint.iacr.org/2016/168.pdf
Additional Details