Web3 Summit — Day 1

Robert Kiel
Oct 23, 2018 · 3 min read

This is an excerpt of some talks that we found notable at day 1 of Web3Summit 2018. Stay tuned for further updates!

A Query Layer for Dapps

Dmitry Kurinskiy (Fluence)

DHT, BFT, OMG: Know Your Building Blocks for Decentralised Applications

Kirill Pimenov (Parity Technologies)

Decentralized Oracles: Providing Access to Key Off-chain Data Sources

Sergey Nazarov (ChainLink)

A solution might be the usage of a decentral network that runs a classical consensus mechanism and reaches eventually a consensus on the retrieved data. Running such a network is expensive since most likely none of the nodes will provide this service without a compensation, so this mechanism seems to work only for high-value transactions.

Another idea is to use trusted execution environments (TEEs) like Intel SGX or ARM TrustZone as a security anchor. The advantage of these TEEs is that they are able to compute nearly any functionality that is efficiently computable on normal processors. Since the operator of the computing resource has no ability to manipulate the computation process — except from turning off that machine — they do not need any replication and consensus protocols to ensure correctness of that computation. As TEEs usually come with a built-in random number generator, they can also serve as source of entropy that is queried whenever a smart contract needs randomness.

However, although TEEs make a lot of things easier, it is good to remember that they are only secure as long as the embedded signing key is kept secret.

validitylabs

decentralized application development

validitylabs

decentralized application development

Robert Kiel

Written by

validitylabs

decentralized application development