chainlinks vrfCypheriums Hybrid Approach to Consensus and Chainlink Decentralized Oracles Integration

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chainlinks vrf chainlink crypto potential Cypheriums Hybrid Approach to Consensus and Chainlink Decentralized Oracles Integration
kind of before we get started sky kind of what would just love to know just as a quick question kind of what what sort of got you started in in in blockchain what got you in this industry um I went to Draper University after I studied computer science at college and its a start-up program founded by the billionaire Tim Draper and hes like knife who talks about Bitcoin and blockchain all day long and I support gotta bring washed item and also theres a startup accelerator compost beasty right across the street so it was there that I got to know a lot of exciting blockchain started project and I learned and I felt that blockchain would be the next big thing it has some great potential and I started playing with cerium cerium is a great tool but it has his own limitation so for example slow it cannot scale and also transaction fees are high and it also lacks some security measurements so you see that the smart contrast can get hacked like quite often and also the transaction fees are so high that makes it very cost ineffective for developers so I think that we need a new blockchain the reason is that because the cerium is a distributed system and it does not have a mechanism that could facilitates that upgrade across the cell sense of nodes globally so that we definitely need a better blockchain with new technology and can address these problems yeah no I yeah I think those are some great points and definitely some challenges I know that everyone kind of across multiple block chains or are sort of dealing with so well definitely kind of explore your approach to kind of solving you know some of those problems but but interesting to hear yeah being able to hear Tim Draper I I can imagine thats uh you know hes very Pro you know Bitcoin and things like that and a very interesting guy to here speak as well its so funny how you know I remember reading about Bitcoin this is a long long time ago you know 2012 theres a magazine article and then you know my brother-in-law works for startups and you know they were just sending Bitcoin to each other for you know hey theyd go out and have lunch and you know theyd say hey thanks for paying for lunch and they would just pay each other in Bitcoin when Bitcoin was like $1 or $2 and you know thats when he first talked to me about it I was like oh this looks interesting but at the time I felt it was very just for a small group of people that were just you know experimenting with its amazing to see how big the industry kind of how everythings grown in just a very short amount of time yeah very fast yeah yeah thats definitely one thing Ive noticed its the I think its the the Bill Gates you know has a famous line where everyone overestimates what you can do in 10 years but underestimates which you can do in 10 and its its just kind of amazing to think you know were really at just 10 11 years into this thing and in how far weve come sometimes I wonder the next 10 years you know could be you know ten times more incredible not from a value perspective but just from entering all of our lives maybe with not even realizing that were using an app or ad app that uses blockchain we just like the fact that it works well its private its secure you know permissionless so Im really excited for the future yeah could be the world yeah exactly thats what I hope before thats why my thats why I like this background so much you know this is what 20 30 years from now could look like so hopefully a blockchain world perfect well its just at the start of the hour so were gonna go ahead and get started kind of with the official QA I just want to thank everybody here for joining us for them for the last five minutes as we just kind of talked before we got started but kind of officially to begin I want to thank Siberian chain-link and the blockchain community for joining us today in addition I want to thank Skibo the CEO founder of Siberian for joining us the real goal of this Q&A is just to allow the community to learn more about kind of the integration why does this make sense for chain Lincoln cipher game to work together in the future and then really explore what makes my theorem unique so as you might have heard Skye mentioned a few minutes ago you know he seen some challenges kind of in some of the current block chains and so theyre creating something really unique Im using kind of a hybrid mix of sort of ideas and mixing I really think thanks together so really excited to kind of explore that with them today its gonna be about 30 to 40 minutes really gonna allow Skye explain kind of what Siberia ms and the technology behind it if for some reason you have a question after this talk again feel free to reach out at the Siberian community reach out to the chain link community be happy to get you connected to the right people to get the answers to your questions well also add a bunch of links in the description so if youd like to learn more about Siberia what theyre building how to join their social channels how to start following them youll see that in the description as well as everything about channeling so perfect so kind of kind of get started Skye Id love if you could maybe just introduce yourself give us just a little bit of your background and then maybe what your team is currently working on thanks Rory Im Skye Kuo and Im computer science background I started programming while I was in elementary school and later I started programming this mobile and I got into blackboard like wow in 2012 so I bought some bitcoins and purchased some stuff online but by this time I was using Bitcoin as a virtual currency I thought it was real cool but later nobody saw that Bitcoin could become so popular and so we valuable and so after I studied computer science in college I went to trigger University and it was there that I got to learn a lot of botching and decided to devote and myself into the bar chain so I started the idea of creating a new blockchain because of the limitations that a serum cannot stop and by the time watch-chain was still like a small group because there was like late 2016 so you can easily get - no some experts in that field for example I made friends with professor IMing desire and hes a Cornell professor and the inventor of the big high-end G algorithm and also he introduced me to Professor Brian fourth who is the inventor of the UM ledger its a first portable sharding proposal for watching and also he invented Bitcoin so its like a first permissionless pbft based blob tank also so based on their research works I came up with the idea of sectarian so sectarian what we want to solve the problem is that you should make blockchain scaleable but you should not sacrifice decentralization and revert to like a trusted third party because that violates the blockchain principles so we want to build a blockchain thats truly scalable and decentralized we serve first started as the technology of hybrid consensus with pbft and proof of work so its basically its very similar to base coin and we use the dual chain strap data structure as the election mechanism so miners could compete with mining power and the first miner that feisty next a valid box that becomes a valid validator its a periodic group but the problem of pbft is that its very complex so it has a n square complexity that makes it very slow and unable skill for example if you have like ten nodes for each lot of communication youd have to make a hundred communications but if you have like a hundred nodes you will need to make ten cells and communications for each realm and thats very impractical for decentralized block distributed network and it was in - 2018 at a conference held in Crennel a Cornell Tech actually I met a guy so he only a PhD student at the time but she sold me his research project called hosta so pasta is a new blockchain is a new present in Portales comes as Alberto by that time it was very new that nobody had heard of it and our developer team began to working on it because kostov solves the PPF Ts communications get a big problem it reduces the complexity to just 2 n so its linear so it means that if you have like a 100 nodes you only need to do a hundred times of communication and if you have a thousand nodes it remains a thousand so it will be much more scalable and secure than pbft and last year when Facebook announced the libera - we just found so amazing that the grass also using hot stuff but the difference is that the brass hosta is permissioned while set variants have stuff is permissionless because we integrate with proof-of-work as a node election mechanism and so you could see that Siberia miss Cadillac see permissionless comprar party of libera and the libera just announced its 2.0 white paper say and it has abandoned the plan to go permission as in future which was originally one of their plan so severe him now is like one of the first chain thats based on the decentralized permissionless hosta algorithm and we also that was a technology part we are also actively building our relationships with enterprises and both public and private sectors we are member of worlds leading watching research group and I see three initiative for preparing season contract which chain link is also member so thats how it got in touch with chaining and also we are members of the u.s. farce payments Council thats a group led by the Federal Reserve and other industry leaders VESA Goldman Sachs Walmart thats aiming to facilitate the faster payment revolution for the Federal Reserve because of these active relationships that we know the pain points of the industry we are building our blockchain is more application oriented so its not just a plain talks of a technology like how many transaction per second we can process but also what reward problems we can solve because blockchain really needs to see killer apps that so far the collapse has not yet emerged emerge but we believe that starting this decade well see more and more apps that build on top of our choice yeah no I think thats a great point about killer apps Ive definitely seen things kind of emerge that I think are our features that killer apps will likely have really cool stuff like out of pull together and even back to crypto kitties and were kind of seeing cool things with NF TS so I feel like weve got the pieces I think its just really can we create platforms and allow people to put the pieces together on apps they really make things seamless so very interesting kind of what youre doing you mentioned kind of I see three and chain link as well I think its also interesting while blockchain sometimes seems like its very big and it is global at the same time you know kind of the leaders in this space or always seem to be part of these groups where everyones kind of doing their research and really pushing the space forward so so you know its excellent to hear you know your members of IC kind of I see three and that Cornell Tech program as well getting into kind of the integration with channeling can you can you let me know why this is something maybe that sort of interested you from the Siberian side accessing decentralized Oracles sure as a smart contract platform it is the most important things that were able to process data and we I prefer less decentralized watching platform that means we should not rely on and need trusted third party to feed data to the blockchain and its das thats why chingling place the this important role can connect to Siberia with other data sources like apis and baby I said I suppose you also support like dinosaurs like database connections right oh yes the BBCs yeah so with chain link we could feed our smart contract and the abstract longing maybe you see you want to hold data like a sport event or like the stock market you could build this moment for use cases and with Miss Channing you do not have to rely on any sort of hardly trusted source and the other important feature judge hanging offers is the verifiable random number generator so random members are in conflict with watchings principle because block chains are supposed to be deterministic there is no randomness but there are a lot of use cases that require random numbers or some if you want to create a centralized Texas Holdem poker you have to have like a reliable random generator because you have to make your game fair thats also verifiable but random number generator its not that easy to implement on blockchain some watching projects are using like hash thats from the miners but those hashes are published by the miners and these miners can manipulate the hashes so this chain links random number generator its a perfect fit for our smart contracts to be able to hold random numbers and also it reduces our work to implement our own random number generators so thats why this strategic map partnership is chaining its so important to us know thats yeah thats great I dont think I think its kind of difficult for a lot of people in the in this space to understand how challenging random numbers are cuz as you just mentioned I know a lot of times people will just say okay well use the hash off the last block but at the same time thats not random youve already created a your number has already been generated off something that is essentially not random due to the deterministic nature of of how block chains work so I think thats a great point and very excited to see kind of vrf and how people will use random numbers on Im kind of the blockchain in the future so thank you for bringing that up I Id love to kind of get into I did a little bit of research prior to the call and you talked a little bit about hot stuff can you explain kind of your hybrid approach to consensus you talked a little bit about kind of proof of work and and some other concepts so it would love if you would kind of explore a little bit about how consensus works on Siberia sure so second you combine the group of work and hosta s its a hybrid consensus algorithm our block chains first a base at home a research paper copping fine Angie I mentioned earlier so big point ng decouples the origin of the coin mining and transaction verification process originally the mining process is a single process that goes verify the transaction and also secure the blockchain by decoupling it so the miner can so it does not have to wait for the block and for the mining time to perform the transaction confirmation because in Pacoima you have to wait like 10 minutes for a transaction to be confirmed but in Bitcoin ng the transactions can be instantly confirmed while the proof of work also called mining is used as a leader election so the leader election is a mechanism that helps the distributor network reach consensus so the leader is the winning mag minor and that minor blockchain as the miner produces box that can be accepted by the rest of the nodes in the network and we follow that idea and in Siberia we use a group of validators instead of a single validator in Bitcoin G because in the coins if that leader node fails then the network is paralyzed so theres no mobile action but Insectarium we have a group of validators that forms a bison head for tolerance committee so all the transactions require at least a 2/3 majority quorum to become valid and reporting on the blockchain and also because there are multiple validators so any validator if it fails whether its the leader validator or likes other committee validators the rest of madness can still remain active and continue process of consensus but thats an important safety measurement more Siberian and the hosta it constantly changed the leader so that is for the river dueces the problem of the leader failure so in case if a leader fails it will be replaced by the next available validator right away and during our test our test net can process up to 5,000 transactions per second on the basic cost of implementation so House staff also comes with a pipeline implementation its sort of like parallel transaction processing so one validated could process this the current step while also change the pipeline the process of the next step so by implementing the pipeline hot stuff we can theoretically bring our transaction per second to over 10,000 Wow thats awesome yeah thats also I think um its its really interesting how you took almost I want to say like what you feel are the best approaches from from different things and Ive basically combined him to almost get all the benefits or the maximum benefits of those of those approaches in terms of miners is it is it a sip is it similar to how someone mines Bitcoin can anyone be a miner interested to kind of hear how that works yeah thats correct because inside during the mining process purpose is first with word the works of the miners so there will be black tree work and its the same as Bitcoin his earrings reward mechanism and the second when require - to post their hash power in mining because we want to keep those fake and malicious no away because if like a hacker who controls a botnet if theres no mining mechanism he could easily do our network with the bots that hit control but with minor we can prevent the Sibyl attacks and you have to spend the rest so that you can become a validator and also if you have more wrestlers if you have like more hash power it does not guarantee that it will always become a miner of validator its because we also have a built-in random function so we will select among so we will have like um candidate pool that if you like us for example copy every for every round of mining there will be a top 10 miners will find the next valid block and only one of these 10 miners will be chosen as the next mana dater so even if you are not the first miner that finds an added block because you possibly become the next evaporator okay thats yeah thats interesting so yep so basically its not only you have the miners to validate but then theres a basically a randomness function inside there which essentially chooses one of those as well so you alternately dont know whos going to validate the next block until it it accursed right that makes that theyre invulnerable from the 51% right exactly exactly cuz you could never know whos gonna end up validating yeah yeah its very interesting kind of getting onto some other sort of technology and features that youre developing could you talk a little bit about kind of your multi-level governance protocol and sort of explain kind of how that works sure a blockchain is a multi-layered system Network layer cuz this layer a smart contract layer and some also have like a chain layer of data storage layers this causes all these different layers and each layers governance is different from others out a lot other layers so sometimes these layers can run into conflict so for example you know that the Bitcoin annex work I believe it was like 2017 in the year 2017 it was because the developers had disagreement with the miners so the miners they can control the block sizes but developers do not agree on that so we came up with a multi-level governance design that separates the networks layer and passes layers governance from the application layers governance so you could run like multiple virtual machines so its not like all controlled by Siberia you could run a serum solidity and you could also run the JVM thats the default virtual machine goes Tiberium and you could build your own cross sectional logic you could have full control of your D act so even if you decide to stop running your the apps on sector and micro to other block chains thats totally doable and the for the protocol level governance so the miners they could adjust the block sizes and the transaction fees according to their needs and they are also able to like move around like whether to use of proof of work or they can even switch to like reverse taking in future if thats like better consensus then proof of work and these two layers will not run in conflict because they are very loosely coupled so its not like a cerium which solidity is the only much for marching thats supported and everything is like put together its not that easy to apply one layer for the other awesome perfect yeah yeah I think yeah thank you for that interesting to hear sort of the separation and you have a system which basically allows kind of these these different groups to kind of control things so interesting from that perspective I know youre also working on a decentralized ID solution which I know is a big challenge I dont think has been talked about as much in the space as possible could you talk a little bit about that sure I were to centralize the IU solution its like using hashes properties to preserve to create a public verifiable ledger of identities while you are actual the full details of your personal data are stored up the blockchain its kind of like a for example if you are government and you can issue the identities of York citizens so they will have a private copy and you also publish the hash to assign that hash concept various comic blockchain so if a certain party needs to verify the identity data to provided by the citizen so they can look at this sector and blockchain ledger and verify if that data provided by for example like a job candidate if he claims that he has a valid drivers license then the employer could verify the drivers license info with the governments authoritative hash on the second blockchain and if the to match then the job candidate is telling the truth and you dont have to like have a centralized database test for all the personal information data and set rooms decentralized ID is also compatible this all the popular formats such as the D ID standard which is promoted by the Webster II and Microsoft with some successful experiment with worlds largest human wrestlers company Randstad its a base a netherlands and our case study is published on google cloud awesome yeah Ill drop the link in the description as well on that case study I know from just my perspective obviously you know D Phi is is very you know very hot very interesting right now but one of the biggest things is just thinking about how getting loans and things like that the reason you have to overcome or lies everything is because no one knows who anybody is which thats okay but it would be interesting to see kind of in the current able to merge kind of the current system and say oh I can verify that Rory is Rory he has some form of credit worthiness and if he needs a loan maybe he doesnt have to over collateralize maybe he doesnt have to be as much because I can verify that he in fact is that person so right and the traditional way for that kind of verification is that you have to go through a credit bureau agency such as I can include facts but Equifax had one of the largest data breaches in the US history I believe that over 200 million data record was stolen because as a centralized systems always run the risk of single point of failure but Mysterium like you dont have to put all the data in one place like you can just allow the sort of party to verify your personal data with the sacrum objects hash and without having to expose your data to like malicious actors no yeah I think thats a fantastic idea its unfortunate we have all these centralized systems that we rely on and if they go down the system breaks if they get hacked your information gets out there and breaks so Im very excited I think as much of this future behind me looks Im just as much excited by a future where I can decide what data to provide somebody they can only access that piece of data that I provided and I dont have to trust that theres some computer somewhere thats not gonna get hacked one day that lets everybody know all the information about me that I did one out there so very interesting and Im very excited by things like decentralized identity so theyll definitely be following up kind of what you guys are building theyre kind of that being said can you maybe explain a little bit about what your focus is right now maybe in the short term so the next kind of quarter the next three months what do you guys really focused on sure were actually planning so theres a highly anticipated community is quite excited and Im not sure Channings communitys excited too and we recently joined the digital monetary Institute founded by a global think tank for central banks official monetary and financial institutions for room its based in UK and they have published a lot of studies based like IBM and other central banks of the possibility of issuing the CBD CS the central bank tendencies and we believe that the CDC would be the next killer app for blockchains so currently like a post Bank of China and the Bank of France are all experimenting their own digital currencies and in the next couple of years so the difficulties will become mainstream and replace the paper cash we use especially right now we are affected by the koban 19 its no longer safe to use paper cash anymore and we are also engaging with unsafe and its partners on those like technology and other aspects how to implement the CBD sees using our technology and the blockchain in general and also how to control like the monetary policy when all the cash become digitized so we are working on some research studies as well and also we develop our own cross chain its called digital currency interoperability framework it can swap between the two different central bank Tijera currencies via syphon and blockchain because most of the CBD sees are gonna be permission on the permission network and in order form another like an another country citizen to exchange the currencies how can they make sure that there will be like no no need to trust it also that we need to introduce a middle layer that sits I fear that Ill separate places role so suppose a cypher iam to show currency interoperability solution you could say slap your digital euro with the additional Chinese gram and its also instantly settled on separate watching no thats great because I think thats one of the interesting things is if we have all these fiat currencies you know which essentially get turned into digital youll still have the same issue of you go and visit Europe and you need euros and you have US dollars youre still faced with a similar challenge that you were faced with today which is you have to go to some type of exchange or some type of bank obviously be a lot easier to be able to press a button on my phone and say I want to turn 500 US dollars into into euros and know that within seconds or milliseconds thats done and I can then make a purchase or buy a train ticket or something like this is the goal that were after awesome well thats a thats a huge goal but very excited to see as your team kind of pursues that so weve got a lot of discussion about Siberia here but interested to know yourself sky do you have any interest or hobbies maybe outside of Siberia more blockchain that you kind of pursue you probably dont have a lot of time right now but when you do is there anything that youd like to do outside of this I loved piloting so I play I first learned how to fly playing in college it was so much freedom but I enjoy and also I could see the beautiful Santa Monica sunset I just loved it and thats how I gave my english name sky because the sky is the limit its like so much of imagination and also like exploration as I think everyone wants to go up in the sky at some point of their lives so I think that sky is also the best word to describe my personality because I love challenges I loved solve those challenges I love to reach high up and like so limited eyes and also one of the last freedom thats what I enjoy yeah because now Im so busy that I do not try anymore but after I launch our minute a swatch I will surely resume like bye awesome perfect well excited to see you back up in the air soon hopefully that being said whats the latest whats the latest timing of of your main net do you have kind of a quarter picked out you have a month picked out kind of whats the latest update there yeah right now we plan to launch our main it in q3 this year so we have already down our four developments such as sectarian consensus the mining algorithm and also which allow a mobile wallet so you can download it at but at the app store and also you could if you are interest you could request from our community moderators and there are peoples our committee members already testing our test net and sending those test points to each other so we are currently working on this final secret check and the code out it and after that is done its time to launch our main it awesome perfect well Im very excited speaking about your community what are what are kind of the main channels for your community that you typically communicate on whats the best way to follow soccer games development sure please follow us on Twitter as a second chain and our telegram group is sectarian underlines super group and also you could follow us on Facebook sectarian chain and reddit this backward slash Siberia these are the main social media that we use perfect well have those links in the description as well if people want to join and describe but first off I just want to say as we kind of wrap things up here thank you so much guys for taking your time I know youre focused on may not write now so I know youre very very busy I also want to thank James at Siberia mazwell who kind of helped organize this behind the scenes really appreciate his work there and he didnt want to thank everybody for watching this today those of you that were not that were not able to make the livestream or maybe had to leave will have this recording up shortly today of course Ill share it with a Siberian team will will communicate that out over all our social channels as well so you can follow up and watch this were also gonna do more and more of these so if you have any interesting people or want to make any suggestions for us please let us know thank you again sky for joining us looking forward to following Siberians progress and hopefully here in a couple months we can do this again once you guys launch our may net and getting a get a new update for me yeah awesome thank you again sky thank you again everybody for joining us have a fantastic day enjoy your weekend and I look forward to the next time have a good one bye-bye Join us for a Q&A with Sky Guo, the founder and CEO of Cypherium Blockchain. In this discussion, we will explore what Cypherium is building, their need for the Chainlink oracle network, and their approach to building a blockchain that is optimized for both on-chain scalability & permissionless mineability through a hybrid approach to consensus.________________________5:25 - Introduction to Cypherium and Sky Guo 7:24 - Scaling blockchain with Cypherium 9:00 - HotStuff Consensus and enterprise applications of Cypherium Blockchain 12:55 - Cypherium’s integration of Chainlink’s decentralized oracles and Verifiable Random Functions VRF 15:45 - Cypherium’s hybrid approach to blockchain and HotStuff Consensus 19:20 - Mining and node validating on Cypherium Blockchain 21:34 - Multi-level governance protocol of Cypherium 24:00 - Cypherium’s decentralized ID solution 28:10 - Cypherium’s mainnet launch and upcoming plans ________________________ Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Website: Twitter: SmartContract Twitter shares Chainlink news: Youtube: Price Feeds: Reddit: Discord Events & Meetups: Cypherium is a decentralized smart contract platform for creating and connecting dApps, CBDCs, and Digital Asssets. HotStuff Consensus: Website: Twitter: Telegram: