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Polkadot_GWood_UCL_20161129.md

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Polkadot - the internet of blockchains has arrived

TOC of video https://www.youtube.com/watch?v=Eeo0FJ5PCjI
Probably this event: https://www.facebook.com/events/1677301915893107/

TOC

Sound quality is mediocre, I did not catch everything.

03:00 interesting intro blockchain
05:00 mess --> centralized --> decentralized
07:55 why no big use case yet?
09:50 why so many different blockchains?
12:40 Polkadot design idea
13:15 network effect
15:00 how to participate (as a chain) in Polkadot?
15:30 pooled security
17:20 "the only thing it can do is be extended"
18:22 you only need to provide one function [validation function]
18:02 canonicalization, notary
19:50 relay chain token, stake
20:35 interview end, presentation start
21:00 extensible, scalable, ____ options
21:42 extensible, e.g. zksnarks, encrypted communication; scalable; heterogeneity
23:55 2 services: pooled security, trust free transactions
25:00 relay chain & parachains
25:20 relay chain: no functionality & fees levied for services
26:15 governance
26:50 architecture diagram draft
28:50 issue finalization scheme; BFT PoS Proof of Stake
29:50 four roles within network: validators/nominators, collators, fishermen
32:30 four roles - why do they bother?
33:35 consensus relay-chain
36:44 validating parachains, PoV Proof of Validity
38:45 queues
40:47 availability & punishment (mild)
43:38 fairness; nearest to "golden ticket" to choose collator sets
45:11 some issue skipped
45:27 strongly tied vs weakly tied parachains
47:00 encrypted private chains possible
47:48 example: KYC/AML service chain
48:50 bridged external blockchain
50:00 questions
50:27 (?) misbehaviour
51:00 use cases: example melonport
52:26 important answer around 53:00
54:00 analogy
55:00 example hedgefund
56:36 ethereum example: (gas) pricing how to? --> mirror contracts on both chains! good example end at 60:52
61:10 (?) security, validators, collators
65:42 (?)
67:47 video end

contributors

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