Decentralising
the Web

Kumar Anirudha
twitter.com/kranirudha

Who am I

  • Working on blockchain since 2016.
  • Co-founded Blockchained India. Currently largest blockchain community in India.
  • Founder, Acyclic Labs. Startup focused on Research and Development on blockchain and web3.

Twitter : @kranirudha

What

Decentralised Network

Open transparent distributed database

Why

  • Huge fees for money/asset transfer.
  • Delayed oversees transfer in age of globalisation.
  • A p2p network all can trust in.
  • Controlled by any government or Institution.
  • Corrupt Humans.

How

Consensus

Smart Contracts

Shared/Distributed Database

Decentralised System

Genesis Block

Bitcoin Blockchain

Network Side

Types of Blockchain

Scalability

IOTA

Immense number of Decentralised Networks

Over 20k cryptos listed on coinmarketcap. Millions more unlisted.

Interoperability

Rise of Cross-Chain Applications

What are Cross-Chain Applications?

Any application that can operate across more than one network.

Bridges

How

An Example

Problem with Cross-Chain Applications

  • Availability
  • Fee
  • Interoperability
  • Security

A Quick Comparision

Security in Decentralised Protocols

  • Shared Security: Shared security is a family of technologies that include optimistic rollups, zk-rollups, sharding, and Interchain Security.
  • Interchain Security: Interchain Security is the Cosmos specific category of Shared Security that uses IBC (Inter-Blockchain Communication).
  • Cross-Chain Validation: Cross Chain Validation is the specific IBC-level protocol that enables Interchain Security.
  • Cross Chain Collateralization
  • Shared Staking

Shared Security

State Channels

State channels utilize multisig contracts to enable participants to transact quickly and freely off-chain, then settle finality with Mainnet. This minimizes network congestion, fees, and delays. The two types of channels are currently state channels and payment channels.

Sidechains

A sidechain is an independent EVM-compatible blockchain which runs in parallel to Mainnet. These are compatible with Ethereum via two-way bridges, and run under their own chosen rules of consensus, and block parameters.

Rollups

Rollups perform transaction execution outside layer 1 and then the data is posted to layer 1 where consensus is reached. As transaction data is included in layer 1 blocks, this allows rollups to be secured by native Ethereum security.

Types of Rollups

  • Optimistic rollups: assumes transactions are valid by default and only runs computation, via a fraud proof, in the event of a challenge.
  • Zero-knowledge rollups: runs computation off-chain and submits a validity proof to the chain.

Application Side

NFT

Metaverse

The End

Questions?

Kumar Anirudha :
- http://twitter.com/kranirudha