ethereum: next steps
Post on 15-Apr-2017
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Coming up next for Ethereum...
MetropolisProtocol improvements and browser
SerenityMove to proof-of-stake
BeyondHyper-scalability, confidentiality and more...
... and for Ethcore
Civility99.99999% reliability through hypervisor + actor-based arch.
TenuityLight client
PurityParity fork for Serenity
PoA enterprise-grade Consortium chains
Metropolis Hard Fork
VM I/O SimplificationRemoval of BLOCKHASH, provision of information in low-id contracts
Dynamic-sized Storage SlotsMoving from fixed 32-byte slots to arbitrary length
Null-signature TransactionsProvision for alternative means of identification & payment
Metropolis Hard Fork
Explicit Contract AddressesContracts identity on CREATE no longer nonce-based
Receipts Less InformativeRemoval of medstate and gas used from logs
VM I/O Simplification
BLOCKHASH @ 0x10Opcode removed (yey)
STATEROOT @ 0x20Useful for Serenity/PoS
GAS_USED @ 0x30Alternative for logged information
Dynamic-Size Storage Slots
Store any length of data in any slot!Storage now a key/value DB with keys restricted to 32-bytes.
Makes a lot of stuff cheaper (less gas!)
Null-Signature Transactions & Mining Logic
Authenticate-by-ContractContracts may authenticate through use of transaction data & alternative
crypto
Payment-by-ContractNo longer critical requirement that users own ether to use Ethereum
Mining LogicMiners now check for alternative payment methods
Explicit Contract Addresses
Used to be creator + nonce
Now creator + codeUser can be certain that address has (or will have) the supposed code in it;
cleaner when we use unsigned transactions to create contracts.
Receipts Less Informative
Receipts no longer have medstate
No longer have to execute in sequence!
Transaction parallelismThough we still have to avoid state collisions between execution
The Road to Crypto (R)evolution
We built the kernelNow we need the rest!
Three pillars which support the ecosystem
The Road to Crypto (R)evolution
IdentityIndividuals, unique stuff. There is only one of each “thing”. The “one”.
AssetsOwnership of stuff. Each “thing” may be plural. The “many”.
DataGeneral information, not formally structured. The “infinite”.
Identity
PeopleYou and me.
Unique ThingsMy priceless Monet painting. Your shipping container.
DevicesMy door knob. Samsung’s washing machine.
Assets/Ownership
Real fungiblesI own 500g of gold in the warehouse. You want 1 tonne of granulated sugar.
Virtual fungiblesI have $500. You have 50% share in my DAO.
Data/Information
May be attributed or globalAttributed to identity or fungible. Global is unassociated.
May be freeform or formattedDepending on usage.
Adding external relevance to internal stuffCrypto-law rather isolated otherwise!
Data + Assets
Insurance/GamingData is arbitrary real world information/random series. Assets dispersed on
the outcome.
Pegged CurrencyData is asset performance. Contracts bet on asset against hedgers. Contracts
are split into tokens to form currency.
Asset ClassificationAttributing information to assets to form asset language.
Data + Identity
OraclesIdentity claims global information.
ReputationIdentities claim scalar information on each other.
BadgesAsymmetric ascription of non-scalar (e.g. attendance, donation, purchase)
information to an identity.
Assets + Identity
CertificationBadges-for-stuff.
Asset TrackingAttach previous-ownership information to assets.
Judged Escrow & Bonded IdentityThird-party escrow to assign ownership; bonded identity allows punitive
damages to be taken by the adjudicator.
And more...
Credit Rating/KYCDerived from Reputation system
(Mostly-)Trust-free OraclesReputation + Oracles: to provide high quality fault-tolerant information
Virtual RetailPegged Currency + Assets: online shops and exchanges for chain-expressed
assets & services.
And more...
Real MarketplaceReputation + Escrow + Virtual Retail: Decentralised eBay!
Simple Truth EngineData + Reputation: Given a statement, is it true or false?
CourtTruth Engine + Bonded Identity: Court of the internet able to assign damages.
And more...
Trade MediatorTruth-engine + Escrow: Simpler court for trading.
Trade FinanceCredit Rating + Currency + Asset-tracking: Combine the lot to rewrite trade!
Transparent Supply-ChainCertification + Asset-tracking: Know everything about what you’re buying
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