ethereum toronto meetup feb 4, 2015
TRANSCRIPT
Overview
• Ethereum Bug Bounty Program
• Ethereum Security Audit
• Mining Update
• Project Progress
• The Crypto 2.0 Application Stack
Example Applications• The standard run-of-the-mill Financial Applications
• Mesh Networking
• Decentralized file storage
• Permanent Web (IPFS)
• IoT / EoT
• Prediction Markets
• Platform to generalize and disrupt centralized applications
Ethereum Bug Bounty Program• Bug Bounty is now live!
• Goal: Eliminate bugs in protocols, clients, and network code
• 11 figure total satoshi rewards
• Leaderboard listing top contributors by total hunting score
• Detailed submission guidelines, rules and other info available https://bounty.ethdev.com/
Ethereum Security Audit
• Ethereum must undergo and pass an independent full industry-standard security audit prior to genesis block creation
• A large-scale stress test network is to be instituted for testing against a range of real-life adverse situations
• Participants: Established software security firms, academics, blockchain research firms, and companies interested in utilizing Ethereum.
Ethereum Security Audit
• 1000s of individually remote-controllable nodes to be run and tested
• Example scenarios simulated: Simulate ISP attacks, net splits, rogue clients, arrival and departure of large amounts of hash-power
• Example of metrics collected: block & transaction propagation times and patterns, uncle rates and fork lengths
Go!
• Ethereum 1.0 is going to launch with the Go Client as the main client
• Command Line Interface will be included
• Available for Mac, Linux, Windows
• Alpha versions of Mist and other clients will be available time of the release
Solidity• Solidity is the main high-level language for creating Ethereum smart
contracts
• Why Solidity? To make smart contract creation accessible to as many people as possible
• It should be easy to write smart contracts and to write them correctly
• Accessible - A web developer with some Java knowledge will be able to write smart contracts
• Minimize barrier to entry and leverage existing skill set
Solidity• Solidity syntax and paradigm is similar to JavaScript
• Familiar concepts are used: Contracts are like Classes. Instanced Contracts behave like Objects.
• Formal Proofing – Users of Dapps are assured that a contract does what it claims to does. (Ecosystem of signed Dapps and unsigned Dapps)
• NatSpec - ///Comments in contract language include a popup prompt in the client before user executes sensitive code involving private keys
• Try Solidity in your browser: https://chriseth.github.io/cpp-ethereum/
Mining Update• Mining Algorithm is called Dagger Hashimoto
• Combines mining algorithms Hashimoto by Thaddeus Dryja and Dagger by Vitalik Buterin
• Algorithm is GPU targeted
• Rapid Block Time: 12 seconds
• GPU Miner available for download at launch
• Mining Pools will not be available at launch
• Features: ASIC resistant, Light Client Verifiable, Full Chain Storage
Mining Update
• ASIC resistant - Reading from memory (RAM) I/O operations is used as the limiting factor in the mining process instead of computer power
• ASIC resistant - Memory-hard computation but memory-easy validation
• Light Client Verifiable - Light clients are supported but mining rewards are only provided to clients running a full node.
• Fast light client boot time of 40 seconds
• Full Chain Storage - Those running a full client get mining rewards. This Incentivizes the running of full nodes
• ASIC resistance and a mix of Full Node and Light clients results in a highly decentralized network
• To view project progress search for “Ethereum Gantt” or visit link below available on Ethereum Twitter feed (@ethereumproject)
• http://instagantt.com/snapshot.html#/54b845c6a88104c84a000097
How to get involved• www.ethereum.org
• www.ethdev.com
• Ethereum Forums
• Reddit Community r/ethereum
• Twitter @ethereumproject
• IRC #ethereum and #ethereum-dev
• IRC webchat: https://webchat.freenode.net/?channels=%23ethereum
• Join the Toronto Ethereum Meetup Group (Search “Toronto Ethereum”)