Ushering In the ERA of Bridgeless Cross Chain DEFI - Mike Purvis

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1. 0:06

   first of all really good to be back at near um yeah uh I kind of left for almost two years maybe a little bit more than two years and I am back and I was like Wow am I going to come back to near and like really be as psyched and like manically excited about near protocol as I was before and the answer is yes it is possible and I'm here um and so we're talking about that mean that's wonderful to hear Ilia talk about change

2. 0:29

   signatures and we are going to talk a little bit more about that today and in the beginning we're going to be referencing like defi essentially um but this is such a new and interesting idea that I think we need to like walk before we run so we're not going to get crazy hardcore into the Defi and we think that the hackathon will be an awesome opportunity for you to really try this out okay so what's the latest on defi I mean we just had this like brutal bare

3. 0:56

   market and so now like let's just like kind of refresh like where are we now okay awesome so November it's kind of getting low we are seeing Signs of Life um and this is I'm sure even better than when this was taken uh Bridge volume um being used a lot more in it these days uh cross chain swap volume as you can see um very much signs of life and this is just the idea that people want have like Ilia said they have a bunch of stuff on different chains and you're just like okay we want to have cross

4. 1:27

   chain swaps and bridges are basically kind of been the way that we are been doing this for a long time and bridges are quite amazing um I was looking this up recently so this is from this is funny this is from August 19th 2020 so this is like pretty sure this is like right in the middle of defi summer uh this blog came out I highly recommend it and this kind of goes over like the Aurora Bridge and like how it works um I

5. 1:52

   think a lot of times like Bridges seem scary but if you think of it like Minter and Locker then this blog will help you understand it completely so this is an example of like why bridges are you know fantastic and amazing but you know we've also seen a few different things happen where Bridges you know and this is not a dunk on any of these people like there are very very smart people building

6. 2:15

   bridges and it just it happens and sometimes it happens in unfortunate ways so we're kind of all in this web 3 thing together kind of figuring out how to how this all works and we are seeing that there's some problems um kind digging into it more too here's a here's a few different ways that you can be bridging and you'll notice that there's sort of subsets here like you don't see every single chain on

7. 2:40

   here and it's like how can we get into Circle cctp um so this is a little bit of the fragmentation it just makes it a little bit difficult to be like okay how like where is this where is this really going and can we sort of think outside the box a bit um a little bit more on Bridges so yeah there can be an inconsistent user experience so for instance if you're you're using um the Aurora Bridge then bridging One Direction is going to be really fast but

8. 3:04

   then for security the other Direction's not going to be like kind of quite a bit longer actually um and that's for your safety and all that kind of stuff but I think to end users they're just like wait a second it's going to take a lot longer to move it the other way like what's going on here um of course liquidity uh is always an issue uh tvl is seems to be king in terms of you know getting funding and all this um and of

9. 3:27

   course this is actually really a big part of it the painful the painful gas token management so if you want to move to a different chain well just like ilas said like you better have bought some of that native token to work on that chain right um and quick shout out uh so farat from pagota is going to be talking about a lot more about really cool stuff dealing with uh gas token management so that's a little little hint

10. 3:51

    there okay so we just talked about bridges and now let's like kind of come back to what Ilia was talking about the programmable multi-party computation is a crucial Edition um and so I'm you know I'm catching up to speed as fast as I can but this is like really deep um mathematical cryptographic stuff um and just like ILO was mentioning this is like actually changing the game in terms

11. 4:14

    of like not having to have like a mentor and locker and um some amount of trust that things aren't going to really go go Haywire in the bridge sense um I'll just show this real quick that there are also just different sort of kinds of like systems were like you know near and lit for instance account based um there's other ones I recognize Axel from my time in Cosmos where it's kind of like you

12. 4:38

    begin by depositing something and that's you know the kind of the first step here um but before going on too like we're all here probably for E soul and you know there's a million different protocols coming out and it's impossible to like keep up with all the different ones so I want to give a little bit of a refresher that uh on near protocol so time out real quick brief Refresher this is very very interesting and I think

13. 5:01

    like crucial is um on near like I have mike. near I have mic. testet right and so I'm using a little like silly CLI command and this basically says like the contract that lives on mic. testnet there there basically is no contract on mike. testet yet that's what all ones mean but every single account on near has a cubby hole and you can put whatever contract you want there really really cool and um so there's not like you know ethereum name service you know

14. 5:33

    it's not like it's not like my account is actually some long thing and then it's like okay but this resolves to mic. near no it's actually mic. near um and in ethereum I think it's really really interesting that you know they have create two so you can deterministically like come up with an address and this is how um 4337 is going to be like basically making smart accounts so you can keep your ens account but then like when you want to link a smart contract

15. 6:00

    to your account you can use like create two um in kmm which is an amazing um rust smart contract uh platform meong is here somewhere in a pink shirt check check it out um in km wasm that's also instantiate to so anyway these are different techniques um to kind of like link your account uh to a Smart contract um the reason why I'm kind of underscoring this is like it gets really really interesting and maybe like talk to me afterwards because I'm not going

16. 6:30

    to go too much about it on this uh talk um key advantages to MPC approach versus bridging so yeah I mean if we are able to say Mike dut can control a bazillion accounts um and I don't know the full details I think DMD is here and probably knows a lot details but I'm going to go out on a limb and say that mike. can control at least uh 2 to the 32 minus one accounts yes um so that's that's a lot um so so yeah it's

17. 7:01

    very very very endless um and and what's Happening Here Also I should maybe mention this because we've talked about like you're deriving an address on a different chain and stuff right so what is like if that sort of feels like unfamiliar or whatever maybe I can like ground that a little bit so when if you want to have like I know 500 accounts like do you have to buy 500 ledgers no you buy one Ledger and you

18. 7:27

    say like the first index goes to this the second index goes to this and you can go all the way up to you know well it's actually 2 32 - 1 * 5 I believe because there's five segments uh if you want to it's like Preposterous amount of um different addresses you can make so that's why this first point saying it supports all chains like yeah Way Beyond that um and of course instant support for new chains and then we have this sort of standardized developer experience um where it's going to be

19. 7:56

    like you are literally just going to be like broadcasting like okay cool what is my account on arbitrum is this okay cool and you just like throw over um a message to that to that blockchain and it's not like oh you have to throw it over but like hang on it's going to take like 14 hours because something something something no no you just throw it over just like a normal very very cool um it feels like this is one of the

20. 8:19

    only times really where like ux can be like really standardized it's uh quite amazing um might recognize this from il's talk just a second ago but yeah we have threshold signatures controlled by near accounts and smart contracts um and I'm going to explain this poorly and then people from pagota who know way more than me can help explain but I think it's like this is was a Brand New

21. 8:44

    Concept to me and I asked a bunch of really dumb questions and made a bunch of like made a fool of myself being like wait I thought it was like this so I don't really this is how I'm thinking about it you can have a see these MPC signatures here so let's just pretend like visualizing your head there's like six different like Rel layers and they all have like different keys right and some amount of

22. 9:07

    them have to all submit their signatures okay like this one submits a signature it basically can't do anything in any blockchain this one submits it still nothing this one this one this one eventually enough of them get together with their own signatures of the same message and then you smash those together using like weird math and you don't get something really garbled that's useless you get something very useful you get an actual signature that like combines into this and it's like you know then you can just like do a free throw and just throw that over to

23. 9:40

    whatever blockchain and it like says boom that's from Mike's account um one one critical thing that I kind of got wrong that I feel a little bit naive and bad about is like I was like well so the way blockchain works is like you have a seed phrase and then like private key and then public key so does that mean that all these Rel layers are just like you know I have the first part of a private key I have the second part who has the third part like then that was

24. 10:06

    like scary to me CU you know it's like now you're just like are you combining it to find a private key no no you're not it is like really cool math that is basically like you don't have to start with a private key you can combine all these signatures and have something valid and it's not like anyone like has to know the full private key so anyway I was confused about that and so I wanted to like to like mention

25. 10:30

    that um so how does this five okay okay cool awesome um so change signatures so how is this going to work so we actually have a smart contract that has just like well a whole lot is going on but like all that you really need to know for this purpose and for the hackathon is like you can say all right sign this please and so here is the like key derivation so this is like the thing that says I am mike. near I would like to know what my arbitrum account is and this is like the special

26. 11:09

    way to like kind of make this like really unique to that um and essentially once you once you submit this and you say hey please sign this NPCs then they say aha no problem and then they do it and they you know give you a signature that again you can just like lob over to an RPC on bitcoin Doge literally um uh we actually have an example of that working um obviously ethereum a bunch of

27. 11:33

    other really great stuff and I I'm not going to spend too much time on this but like I do want to point out that I can directly call this with my my key you know click a button sign I can also have a little smart contract on mic.

28. 11:50

    near that also calls this so a smart contract can call sign and then it gets a payload that can be used so smart contracts can sign stuff for realsies okay let's not dwell on that but I think that's like fascinating um but wait there's more Workshop tonight me 7:35 and we're going to go over some really cool examples and Fat's talk is at 5 as well um right here same place different time um this is an example that we we will be showing I'm going to kind of hurry up a little bit

29. 12:24

    but this is an example of like me deriving uh an address uh on an an ethereum and then you can you know fund it and we'll go over all that later might run through this a little bit so what is going on how can I look more into this near is using additive key derivation and I am the wrong person to ask about all of this stuff but it is in the docs right here docs. n.org check it out and yeah just to kind of give the

30. 12:55

    full picture here uh is you you say please sign this either your account or a smart contract directly and then boom you got addresses uh to wherever you want to go here is something that we will be talking about more later at 7:35 and Yep this is an actual live demonstration using sepolia test net um we also have seoa that we can give out later on and this is extremely interesting U mint base has an example ready to go right now that like is

31. 13:26

    working on open C actually the test net um so we will go over this later as well I will end here we uh again have fat later on at 5 workshop at 7:35 and then here's some really good link tree and you know if you're really curious about coming tonight I might just grab some sepolia from from the faucet here and some QR codes for the for the documentation uh yeah look forward to seeing everyone in a

32. 13:58

    bit