Building with Chain Abstraction, Hackathon & Project Ideas

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   time anywhere nights chain technolog unfair theame chain Tex about to blow up it's time to testify CH signatures launched we reaching for the sky BL CH lock leading the Dr outside change the any

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   come all right hello everyone uh welcome to the redacted hackathon AMA with the proximity team and some people from pagota it's a all about chain abstraction we've got the architect we've got the people who work on it on dayto day and we've got some people from devhub this is all focused for devs who are going to be joining the hackathon for redacted um so first things first let's

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   do some introductions um everyone can I'll just like call it out Joe if you want to start yeah sure uh I'm Joe I'm one of the uh moderators over at near devhub and uh we help with all the support and felber ecosystem awesome MJ sure thanks J everyone this MJ had a product at proximity Labs so proximity is a company that was originally founded by a few core contributors of a near uh for the in first three years or so we have been focusing on building out the

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   defi ecosystem for near and over the last eight or nine months we've been really focusing on the goto Market strategy and product Evolution of near Chan abstraction initiatives that's awesome man stoked to see it coming together too David DMD introduce yourself hey I'm David I work at pagota I we at pagota we build um the NPC Network so sort of the actual chain sisses technology itself we build Fasto which is now going to be multi-chain fast very soon and we also do stuff like

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   the multi-chain gas relay and other useful contracts like that oh that's awesome so we can get real Dev on this this is good and then uh Maria the core moderator team along with Joe so I can prob it P to awesome so oh oh yeah sorry yeah so this is re I work with NJ at proximity LS um I've been here for um over a couple of years now and uh I'm currently leading BD efforts for well in particular chain

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   signatures which is what we've been focusing uh for the last eight to nine months as he said that's awesome and also we've got two more people I'm going to bring on stage right now hey how's it going Jos if you want to introduce yourself uh let us know fellow Dev from the near ecosystem or not fellow Dev for Joe everyone uh I'm juster uh I've been in the near ecosystem for three years now uh just doing open source contributions uh been part of NE builders for a while

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   now uh and Harmony guil so doing open source contributions here and there uh experimenting with the new tech all the time so thanks for having me he heck yeah man having devs on this this is all for devs and then V introduce yourself you're on stage hey how's it going well uh I'm V and I work with MJ and res at proximity labs and super excited like I'm been looking forward to this live stream for a while now awesome I'm super glad you're all here now I'm just gonna do a little

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   housekeeping and then I'm going to just step out because then this is Dev talk and I'm just you know so the main thing that I'm going to bring up right now is I want to just do some highlevel housekeeping with what exactly the dates are and how this hackathon is being structured and the online versus the also the bonus part that's going to be IRL so let's drop this infographic all right so the redacted

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   online hackathon has over 500km bounties now there's going to be two highlevel tracks and that's important right so we're gonna have um the chain abstraction track which is great and we're got people that's what this stream is about and then we also have a whole AI track now those are both high level and they do cross over in a couple places and we'll get into that later in the weeks here's some important dates September 5th

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    that's tomorrow the hackathon kickoff the opening ceremony then September 25th you can start submitting projects October 25th final submissions due then you've got your October 25th through November 8th is judging and then at the IRL event winners will be announced now there at the IRL event there's also like a bonus hackathon with special bounties we'll be talking more about that later you do not need to do the IRL to be in the online hackathon you can just do the

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    online and the last thing about bounties really cool thing is you can stack them all right so the stacking of the bounties can be a really cool thing because then you can build something say in chain obstruction you can just add some part of the AI Tech stack to it and we'll get more into that in later sessions all right that's my housekeeping Joe take it away cool thanks Jared yeah no this is an exciting live stream because there's so much to

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    you can do in near and we want to frame this whole entire hackathon that it's not just about one or two topics right so the the big two narratives right now are obviously chain abstraction and the AI track but we want to be able to highlight all the stuff but today we're highly we're highly focused on chain abstraction because we have some of the core people here who were involved in actually building it and actually what it's all about and I want to talk

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    especially with you Jazz about like where you see some ideas coming things like that but let's start at the really high level uh David or MJ can you just kind of talk about like what exactly chain exraction is and how it is different on near versus other places I'll jump in um so chain distraction is generally the idea that users shouldn't have to give a about what chain they're using

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    um so it should be you should go for the app um and you should use that app and use that account with any other app you want uh with sort of full account abstraction um and lot chains are trying this in different lots of different ways now what we have is this thing called chain signatures and what chain signature allows you to do is to have any smart contracts on near hold any account on any other chain um and that

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    gives us kind of the horsepower to do this account abstraction uh this chain abstraction better than anyone else um so that's why it's different and uh it's useful yeah no that that's that's great and so we want to really highlight too and it's important here that everything is done through your near account so it's not about having to set up a whole host of wallets everything else you talk

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    a little bit about how this is actually this is not bridging this is you know why chain signatures is a different approach to how some other things are done yeah so generally bridging what you bridges are very very brittle um what you have to do with the bridge is you have to um on each chain have a representation of um the full logic of whatever chain this you're TR a mirror uh and if ever those two um systems

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    diverge so if your Bridge says that you have $10 and the chain says you don't have $10 um that Divergent can be used to drain funds from a bridge very very trivially which is why bridges are so dangerous um what you get with this is you simply just have a key inside of an account and that means you can go and you can look look at an RPC you can see what's on there and then make a decision with you in your account on how what actions you want to take this sort of cuts the attack surface down to

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    something really really small um it's a very simple thing it's got one end point and it just observes a near blockchain um and it yeah Simplicity is security um and also there's no lcy attach generally Bridges sort of periodically sync between different chains so you can look at one or 2 hours for a bridge or 15 minutes in the fast ones for us it's 0.7 seconds so there's that sort of instant feedback that developers can get in sort

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    of one two or three blocks on the near EOS system which can be really a handful of seconds so it's speed it's security and it's also nativeness um so when you do things with a bridge you have a smart contract on the other end that's doing some very interesting stuff it's creating all these kind of fake accounts um and it does it doesn't quite fit in correctly it has um instead of meeting your friend you're meeting someone when you're wearing your friend skin and pretending to be them it's sort of it's

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    very um there's lots of issues that come with the that sort of interaction you really to think about how you can do it on every single chain in a different way so it's about removing that overhead using standard libraries keeping simple to give you qu awesome and you know I I love that line there of like you know Simplicity you know leads to security and it's not overdoing it and one of the things and

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    as a developer myself uh when you first hear some of these Concepts they seem complicated I know the technology in the background is very comp complicated it is not simple stuff there's a lot of cryptography going on but you guys have made it really simple for a developer to get up and running MJ can you talk a little bit about like what is available today for a developer to actually hit the ground running and actually start using this

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    stuff yeah sounds good let me actually share a few visuals to make it you know easier uh for everyone so I'm actually sharing my screen I'm not sure if you can see it here well bring that up to the stage here sounds good there perfect let me slideshow okay yeah so as David mentioned one of the key products that we are building here is called chain signatures essentially uh it's a stretch

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    cold signature service right that enables any near accounts or any near smart contract to sign for any payload or any transaction on any chain right and the way it works is very simple it a smart contract which you can call to um to figure you know a signature process and API is extremely simple there are just you know three inputs first one is the payload that you want to sign and second one is a key derivation path so

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    which enables you to which basically enables a near smart contract or near account to to manage multiple foreign accounts on on other blockchains um you know technically there's no limit so a near smart contract can be managing you know hundreds of thousands or even millions of you know foring accounts and then the last input is just you know the key type um so basically chain signatures works at you know on the uh you know sunning scheme level so we

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    currently support ecdsa and in the you know coming month we're going to add ed25519 support which will then you know cover pretty much every you know single blockchain that I'm aware of um yeah and here's just a visual that shows how uh CH signatures works so let's say we have a near account that wants to sign a payload or transaction on a foreign blockchain like like you know Bitcoin right so what you can do is that you can

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    call the uh the CH signature smart contract on near um by passing the payload and key derivation pass that we just talked about and then there is this NPC network with a number of notes that are listening to incoming signature requests from uh you know this smart contract and once they receive the um the request they will start signature process and each of this uh NPC you know

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    node holds a sh of a public key and they can work together to sign for that public key but none of them can do that individually and once the uh you know signature process is complete the signature will be um returned back to the the clients and at that point the um you know the transaction can be sent to the uh destination blockchain it can be broadcasted it can be sent via an RPC it just depends on the implementation uh of the uh the foreign blockchain so that's

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    how chain signature Works um and in addition to that we also have kind of like a helper product called uh multichain gastr layer which enables you uh you know you to uh you know which enables users to pay for gas fee uh on foreign blockchain in a single token right such as usdc for example you can do a transaction on bitcoin blockchain but you can you can pay near or usdc for the

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    gas that's awesome uh while we're here so as a developer coming in to start hacking how much infrastructure do they actually have to stand up thems uh to actually get going with this I would say zero this is kind of like a platform as a service everything is managed by you know by pagota and by you know by uh you know by by others like the NPC Network that is a decentralized permissionless um Network so there's nothing um that developers need to set up on the infrastructure

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    level all you need is a near token an account you get go yeah exactly yeah I mean I'm not trying to make it sound like an infomercial but it almost is like it's so easy like you know we're not trying to like it's you know there's no inference to have to set up like it's just you know uh you need an account and you're off running and it just get going and so uh it all sounds great it almost

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    sounds too easy so let me bring jazz in the conversation I know you've been playing with some of this as a developer can you talk a little bit about your experience of actually building with chain signatures right now yeah um for me I think one of the biggest sort of uh wow moments was just controlling uh different accounts and different chains why am my near account I'm always like all of us are I I guess

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    maintaining different wallets you have one on bitcoin you have one on ethereum whatever your preferences are and you have one on near uh at some point you will start ask yourself where does this stop as in all of your all of your wallets have different amounts of tokens whatever Etc your assets um I feel like for me that was the biggest sort of setting point which is I can just uh control all my assets through one key and I don't have

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    to worry about everything else so I I think that's where my initial sort of experimentations begin uh and and as MJ mentioned uh it was pretty easy uh I I did I did workshop on this a little while as back as well which is all the NPC contract complications and everything else they're just abstracted to you in this a simple cross contract call which is the sign function on the signer uh smart contract and then all

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    the MPC stuff and uh the smart contract pausing and waiting for the MPC service to give you back the signature and everything all of the technical stuff you want to learn that's fine but if you don't want to jump into that all of that is a attracted to you so this comes as a simple smart contract call to the end user and then derivation path and other stuff that you need to do is all

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    offchain and there is there are simple functions uh that you can just use to sort of get that um so at the end of the day the ux is you just simply calling the signer smart contract with the with the sign function I feel like that Simplicity uh is is great um yeah I also feel like the Wallets on near are so much better than other chains uh no disrespect to any other ecosystem so it's just it's just nice to have your

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    favorite wallets now being able to do things on other chains chains as well my experience experimenting with the examples have been pretty good I've tried to do some stuff on ethereum uh try to experiment with some uh safe contracts on ethereum how can and uh an account on near control a safe account in ethereum how does everything goes goes through that how can you set up a recovery through a safe account all

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    of that so been a been a pretty fun experiment uh all along no that's that that's awesome and one of the things here that you know I we're maybe a little bit biased of saying like sure the near wallets are better but if you've used other chains that and I think that there are there is something really nice about the wallets here and near but really the secret sauce is the account abstraction so this

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    all kind of goes together here's a really unique model maybe David uh if you could just maybe touch on like some of the uniqueness here of combining the you know account model on near along with chain signatures you get this like superpowers as a Dev to really work multi-chain yeah so the one thing that Nia does better than any other blockchain or has long time is counts um we went big on account extraction we

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    launched um and it's a big reason why we have the most active users of any chain because you know sort of we can Define arbitrary rules to Define how you can control your account and not just how you control your account but you can make arbitrary rules on any level of control all the way down so you can say like if I want to send uh usdc to my mom on a Tuesday I need my ledger but if it's on a Wednesday I need to I can use

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    an O token something interesting about that um so we build stuff like Fasto which is basically sign into your account using an O token and sort of a ZK proof um and with this and you know we have loads of other sort of um you know social recovery we have e recovery we have a million different ways to recover your account combining that sort of all those million different ways to

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    get into a new account with the ability if your near account to control any other account allows you to cross chain account extraction which is the right way to do it so rather than having to deploy an account extraction contract on each chain and set an account on each chain and then have no ability to communicate between those chains and have to pay the native gas fee when it's potentially very very expensive on say ethereum um what you can do on near is you can have a super cheap account that

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    verifies super easily um and has all these sort of libraries built in beforehand and then you can just use that where if you like so basically we're solving the private key problem everywhere um and we're make it we're solving um onboarding everywhere so make it as easy to onboard in any chain as it is to onboard there yeah no that's awesome and I think it's it's a great summary and again if you have built here

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    before you understand how how great it is to work with that and if you haven't yet I really encourage you to come try this experience because even if you've done work in other you know blockchains uh it is really a different experience when you get into this model here sorry thing is um we have great account extraction but if you actually just want to do regular evm account extraction you can do that on a as well so if there's some sort of nice account extraction contracts like um no safe or any of

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    those other things that you want to use across chains a great hackathon project is to deploy that on our sort of evm compactable layer which is called Aurora and then start like having those accounts control um things on different checks so keep your key inside your abstract account yeah great great Point yeah no that's that's right that initial evm layer is already here on near so like it really that it almost can't be

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    simpler so again we're trying not to off too shly here but like it really it just uh when you when you get into it you'll see actually how easy it could be but I want to bring res in here uh I know you do a lot across multiple different chains um you post a lot of great stuff uh you know over the years on Twitter of different using different chains and different feedback I'm sure you have a lot of thoughts about how a you know

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    chain abstraction could really benefit an end user re what do you what are some ideas that kind of come to mind when you see this type of Technology yeah so um nowadays I think chain abstraction is one of the one of the most important things to have is is because in crypto we have a lot of fragmentation like we have all the different alud and is just super complex it's not when it's not the same as when

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    you were getting into space up seven years ago or six years ago now it's just for someone I've tried to do it with some of my friends and now that they are totally overwhelmed so if you can if you can offer the experience in which you know they don't have to think and uh you know everything works that's amazing and not only that it's also about um because you could kind of abstract away the

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    experience with some sort of universal front end and you know like get Bridges and and all of um everything working on the back end without the user realizing but te signatures and and what we're doing is just much more than that because it allows things to happen on the backend that couldn't be possible before um it allows you to really use native assets across all chains which is

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    something that it doesn't really matter how much you have Tru The Experience away um without this kind of Technology you can really do it so yeah I've been for the last months um working with a lot of teams um you know like pitching chain signatures trying to understand what the what their main problems are what they're trying to solve and we do propose Solutions as well so um I'm going to give you some sort of list of the ideas that we are into a string or

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    some things that you can do with chain signatures um and then you know like if you um if you guys want like more information about how to do anything of that and you can obviously uh send me a DM or something like this so all right so the mo the most interesting thing is H well at the beginning we are going to be focusing on you know like creating the main Primitives for a totally Omni chain abstracted um defi ecosystem so

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    dexes are super important you could build an amm it's even easier with chain signatures and the way that it works to create uh an order book or a request for quote um this is uh you know basically is it could really be the F the first time that you have a technology that would allow you to create a true spot or the book you're not using contracts you're not you're not using synthetic assets it's like really using native

52. 24:13

    assets so for example you could buy native Bitcoin with USD on ethereum or USD on Solana when when EDSA chains are integrated so that's obviously the main one then you have lending as well interesting things that you could do is use these native assets as collateral like for example native Bitcoin I'm going to say native Bitcoin a lot because uh even though this is an omni chain World we're doing initially a lot of focus on bitcoin just because of the

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    untp potential um un top liquidity and potential that it has so um lending you can use Doge xrp Bitcoin these sort of assets that haven't been really used in defi unless you know you've used like a wrapped version of Bitcoin or a synthetic AET or something like this but you could um in Lon you have two approaches so you could do one that is the sort of uh difficult one that is any

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    literally any acid as collateral and you you borrow against whatever other asset in any chain and then you have a bit more simple one which could be like a good idea for the hackathon which is okay you go to near you get the the near uh the Bitcoin like client then you can get something like B you can Fork it and then just using like an article like pth you can create a lending protocol in which you borrow really native Bitcoin and then you can um sorry you put native

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    Bitcoin as colaton then you borrow stable coins uh on near which would be native usdc and and USD and then you can brid that across with Stargate or or any other solution um some more ideas you could create like a stable coin like a CDP and you know using native Bitcoin as collateral you can create that stable coin in Bitcoin um and then you can you can create that as that stable coin as well in any other chain we have something really really interesting which is called the Omni token standard

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    I'm not sure if this is already updated in the docs but if someone's interested um you can hit me up and uh the only token standard basically allows you to have a token with a unified Supply across all chains integrated via chain signatures so you don't need to wrap the token or you know like once you breach an asset and then you you need to build up the liquidity then there is another layer one or Layer Two there is the hyped one coming and now you need to you know like Bridge it again create a new

57. 26:51

    bridge build up the liquidity again that's removed with the only token standard you basically Min burn move the asset across with Without Really bridging um and you have a unified supply all the time and not just a CDP you could also create like a decentralized Athena like the only requirements is the Bitcoin like client which we already have um and don't and um and and and that's it you can use the you can you can buy the Bitcoin and then

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    uh borrow usdc in another chain and then you can open uh contract a short in something like DX you could create like a decentralized AA with any asset really obviously Bitcoin is going to be more liquid um and you know like many other things it could be talking here about example I'm going to cut it here but things that using native Bitcoin as collateral for per something like a GMX LP based uh derivatives platform you can

59. 27:49

    use that uh you could restate any asset create some sort of babyone for any asset really Solana near Bitcoin um and you know also something for Bitcoin developers as well there's a lot of layers on bitcoin right now and you know we have uh we have Merling chain we have bit layer we have you know many many Bitcoin layer to um and side chains so there's a lot of different synthetic assets created um it could be another potential solution something really interesting is one way to go you know

60. 28:23

    something similar to how Stargate Works uh to go from any synthetic version of Bitcoin in your chain to Native Bitcoin on the Bitcoin blockchain so as you guys can see uh you know many ideas that that you could create um so U yeah I will stop it here but if you want more I can give you more later yeah no I great great initial list and I've been writing some of these thoughts down here and I I just I don't know if we can do enough Justice here of like the what you can

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    really achieve at this hackathon one all the stuff that you were listing you can do today with the infrastructure is already in place and so this is not like oh I hope to get to that point it's not in the future it's not like H you know hurry up and wait for you know near to catch up you can do it today so that's number one to all of this stuff that we talking about is really truly stuff that's actually innovating on the D5

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    space and so if you've been around D5 for a while it has maybe felt a little stale to some people it's gotten kind of redundant in at times this really opens the floodgates to tons of different ideas and like you said res to a lot of different liquidity and some different formats which is interesting uh and the other part of this and I I think you know before we take there's a couple questions I want

63. 29:43

    to get to but there's so much time in this hackathon you have almost two months to actually hack and that's where it's a great time to really push the limits a little bit normally in a hackathon maybe you have a week maybe a couple weeks you know you know maybe at the most maybe a month you have two full months to really push the limits here experiment try different things and we will tell you that the near developer

64. 30:09

    Community is very active in helping each other and so if you get stuck early on you can absolutely jump in to any of the different chats ask questions you can reach out to the people here on the call you can go to these telegrams uh in there's tons of different help to get the get over the finish line if you get stuck anywhere so don't get discouraged and really try different things uh I really want to highlight that part let's take a question though we had in the

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    chat here uh and maybe David this might be a good question for you to take uh does near support external apis in smart contracts uh what do they mean by S apis I'm guessing they probably mean they're referring to to things that are outside of uh the near blockchain yeah so we have this thing called yield resume which is actually kind of this really sort of missed um technology we use to chain signatures and what yield

66. 31:11

    resume doeses is it gives you the ability um in near what we do is we have asynchronous Smart contracts so contract a can call contract B can call contract C and they all happen sort of in different transactions um what we have is a really cool technology called yield presume and what that allows you to do is to yield a value externally off the blockchain people can watch and wait for those values and then run any arbitrary action

67. 31:36

    on those values and return a response um so what we do in change signatures the way it works is you call to sign a contract sign a contract sort of sends your request up the NPC Network watches for that and then sends the signature back down but if you wanted to you could very easily make make say a web server that listens for um HTP requests so I say I want to call um the blueberg API

68. 32:01

    and um check what the usdc USD Bitcoin rers um it'll go up there we'll have you have to have some sort of way of verifying it's correct and then these noes will send um the result back down and then you can um basically ingest that information and continue your comput computation with it and you can do as many Yi resumes as you like so you can send off five different requests to five different sort of oracles um and

69. 32:26

    you can get the responsive back and what allows you to do is um not just have a p computation but have a computation that affects the outside world under certain circumstances um and also can read information back which is sort of very novel and I don't know any other blockchain that supports that yeah yeah it's it's that's that's sometimes the hard thing when you're building on ear is there's so many

70. 32:49

    features that are built into this and so it is like this it is not so straightforward and basic all the time there's so much you can actually do in really get creative and that's why this hackathon was designed to be as long as it is so that you can actually really explore the ins and outs of the ecosystem understand the technology uh take that time so if you are completely new to near completely new to web 3 or

71. 33:13

    crypto uh there is time here there is again there's tons of help available uh to be able to do that so it's relatively the difficulty use at the the libraries haven't been really been flushed out so you kind of need to go into the chain signature go look at how we do it and then build out from there love for someone to build out better Library stuff' be really helpful for a lot of people yeah well and that's

72. 33:36

    actually there's the track on the hackathon for research and development so uh so if you're into R&D if you want to dive into some of this stuff if you want to experiment awesome opportunity to do that uh as well now uh Jaz I want to bring you back into this I I I want to put you on the spot too much here but as someone who is likely going to participate likely you know but is

73. 34:01

    constantly hacking away trying different things what are some things that come to mind for you for this hackathon to explore especially around talking since we're talking about like chain signatures and chain abstraction today uh so some of the ideas that I've been playing around or at least studying into that I would want to try uh uh certainly some of the stuff on bitcoin um I've been and one of the ideas that

74. 34:30

    I'm looking into is just straight up lockup contracts on bitcoin so that you can lock up Bitcoin and have investing schedules and whatnot just like any other smart contract uh chains do for other assets like you can do a lck up contract on ethereum you can do it on near and you have it logged and then wested and then the beneficiary is getting that it's not possible to do the same on bitcoin because of it's liit ations I feel like lockup contract with near liquidity could have good use case

75. 35:04

    and a lot of uh adaptation if if it's available uh the Bitcoin network has massive uh sort of liquidity um and I I feel like lockup contracts for whatever you business use case you have be an ncro or whatever other be it paying people in Bitcoin for the long-term involvement in projects or whatnot I feel like log up contracts uh is is a big one for me uh another one is just doing uh sort of multi- signature uh

76. 35:35

    Wallets on bitcoin because natively you can't do that and then sometimes if if as an organization as a group you might want to have multi signatures to sort of use your Bitcoin treasury or whatnot I feel like that's uh I wouldn't say it's an easy win but at least from from a conceptual standpoint I feel like doing Dows uh would be would be nice and there wouldn't be maybe a too much too much thing to figure out like if you're doing something native defi thingy or one of

77. 36:07

    the uh innovative ideas that we have been talking uh might require a lot of research and stuff I feel like for if you want to do Dows on bitcoin or a simple multi signature on bitcoin uh you might already have a lot of stuff out there that you can just hack and fork and build something um I feel like one of the things that really excites me about near is and this is me just going back to the discussion

78. 36:37

    on near account model so you have access Keys uh where you have function access keys and full access Keys a concept very very useful uh to build applications a near and which is completely uh not explode at all on change like ethereum Etc um I'm not sure if smart wallets also have capabilities like that I feel like building access key derived use cases in ethereum uh are also something really

79. 37:11

    exciting I would want to do that uh function call Access keys on ethereum would be cool to have where you do not have full access to the smart contract or whatever you're trying to do and you have limited access to only call certain functions I think that's that's exciting to do um uh yeah I think these are the things that currently I I try to experiment with and I'm just thinking to do do all of them or one of them as a part of the Eon

80. 37:42

    yeah yeah one of the things ja you brought up is kind of that remixing of like current things that exist today but expanding it into something that either opens up to another ecosystem uh maybe brings in other functionality from another chain that's not already there and and that's an important point that like you don't have to again stay in such a a linear way of thinking you can really again you can take something that

81. 38:06

    exists today and remix it and rebuild and see what you can do and expand on that um MJ I want to come back to you for a second here and just kind of talk a little bit about like what the next few months look like around you know chain signatures and everything else uh one of the questions I think developers usually have is like how stable is this are you guys going to make a lot of

82. 38:29

    breaking changes soon uh you know those kind of things what does the you know like short-term road map to look like and you know is there anything that they developers need to be aware of uh not just building now but kind of through the end of the year yeah I think DMD is probably in the best position to answer this but uh um in terms of short-term road map so as I mentioned earlier we're going to add ecd

83. 38:53

    sa support so that will cover pretty much all the blockchains out there and I think SC scalability is another thing uh that will be add you know basically improve in next couple months um I I'll leave it up to DMD in terms of you know breaking changes and stuff um yeah so no we're not doing breaking changes because obviously people writing smart contracts against it and they're paying the ass toop that's not say not going to evolve the API but it'll be versioned so you have

84. 39:19

    sort of different contracts to hit um as you you move forward big thing is EDSA and scalability completely right what eddsa gives you is the ability to talk to chains like salana and Tom uh natively without having to deploy smart contracts it also gives you the ability to do tap rout and other very interesting things like runes in Bitcoin which are not possible Right Now using

85. 39:40

    ecdsa um we're looking for uh to sort of significantly improv the latency um hoping by the end of the year to have sort of um you know consistently ways to sort of do this in the past second would be the ideal situation and we're looking for scalability of around 300 TR signatures per second uh right now we're still I believe the fastest signature network but we'd like to be about 100 times faster so that's um yeah that's what we got to look forward to and lots and L stuff to do with security as well which are too

86. 40:10

    numerous to list nice nice no that that that's great news here let's take a question here uh so someone over on our LinkedIn brought up would it be possible to create a world in which you have uh only have stable coin liquidity and Abstract account does adj in time exchange of your stable coin liquidity into the target chains coin to essentially cover transaction fees on chain or must you have near to initiate

87. 40:36

    the onchain signature yes that is very possible um there's lots of good ways of doing that one is using the multichain gas relay um and this is generally something that's possible to do anyway um but by having one account it makes it much much simpler um to do those kind of things what it also allows you to do is to do those exchanges but also subsidize those exchanges and that allows for cross-pollination between applications so if you have a user say on sweatcoin um someone come along and say like look

88. 41:08

    you have all these great users I'd love to um I have a onchain biking app so that could be complimentary to onchain walking app why don't we get people to pay in sweat and subsidize their gas costs when they go in now this is impossible anywhere else because what would generally happen is that be a faucet attack and as you sub gas cost they just steal that gas back off you um but because you can limit what the key

89. 41:31

    can and can't do sort of using a um functional access key or just a limited key uh you have the ability to um basically onboard people much more easily so you can subsidize their first couple of transactions and then get them going so yes that's possible and a lot more yeah no I mean that's a great question and you know even even better answer because again it just continues to go back to this whole ecosystem for development of like because of the account model because of the key

90. 42:02

    structure you know then you're you know tying this in with chain signatures and everything else you can do this uh I believe actually sweat is doing something like this so I know use sweat I believe that's how sweat is doing something like this right now or they're working on it so I mean this is like this is not fantasy type of stuff this is actually again live now that you can start working on uh which is really

91. 42:24

    really exciting uh as we come close to the top of the hour here I just want to kind of circle back on a little bit more of just some other ideas of building you know of like what else is really possible um anyone can kind of jump in but I don't know if res had any other ideas that you wanted to bring up that you think are are good for hackathon I can jump in so yeah please to me I think there were a couple couple categories the first one is basically building like this kind of you know chin agnostic or any chin apps basically the

92. 42:57

    concept is here is that instead of choosing one chain to deploy your applications too right you can actually build application in a way that can serve any new chain immediately so I think J mentions um you know the multichain Dow ideas basically what you can do is that you can build a dow um that where people can you know propose ideas and vote on year right but then the smart contract after the Dow can actually you know control and manage

93. 43:21

    account on any you know foreign blockchain right for example the Dow can collectively decide to buy you know Bitcoin or runin or you know um you know an nft on on ethereum right so uh the Dow contract can interact with the NPC contract or the trans signature smart contract to initiate those transactions right you can even make it more generic this can become like a multi Chen escrow

94. 43:45

    application where you know you can have you know uh a MTI manages you know funds or treasury on multiple you know foreign uh blockchains and um another thing to another category is uh also you know what just mentioned um basically you know smart contracts or you know uh you know def5 for Bitcoin basically the concept here is that you can use near as the smart Contra layer for your

95. 44:09

    application Logic for state right and then you can build in all sorts of Def applications uh for Bitcoin um for example you can have a landing protocol that you know takes Bitcoin on bitcoin right so the the application will use you know Bitcoin for custody um and you know users can borrow against their Bitcoin uh for like usdc or any other Chan so that's another example um I guess there are there are a

96. 44:34

    few other ideas that I'm you know particularly you know excited about um one thing uh is I think I think elen mentioned it as well is this concept of you know called you know liquidation protection bot we can call it that way so you know if you are like a heavy defi user we know that in the market is dumping so you're probably constantly kind of monitoring your position on like you know burrow or a to avoid being

97. 44:57

    liquidated right so what you can do is actually um build a bot um which has like offchain components that monitors your position on various you know def applications and then once it realizes okay you know your position is at risk of you know being in liquidated it can call the smart contract right on chain and then the smart contract can uh you know interact with you know uh chain

98. 45:22

    signatures to initiate transactions to either you know reduce your Leverage or top up uh your collateral right to you know to avoid being liquidated and you can even expand uh the scope of that and make this like a generic kind of like trading bot right can Define strategies and then you know you know as soon as you know some of the rules are met right as will trigger transactions on various blockchains and the beauty of you know this type of application is that you know um you don't have to kind of

99. 45:54

    manually or individually add support for every new ch right because CH signatures uh support uh you know uh chance at you know uh the sunning scheme uh level right so as long as the chance supports like ecdsa or E you know e you know ecdsa ed25519 um it will be supported right that's the the the beauty of it um and I guess another idea that I'm very excited about is called accouny right so basically the concept is that uh as I

100. 46:23

     mentioned uh with chain signatures each near account accounts or smart contract can you know can show you know multiple foreign accounts right and actually these accounts the ownership of these accounts can be uh you know traded right so this means that you can build a type of you know defi application that they can trade uh you know not not the underlying assets but like you know the the accounts holding those assets right

101. 46:49

     so this means that everything under the accounts can be traded so this is not limited to like you know funable tokens or nfts but also think for things like you know points right which are you know usually not not tradeable so uh that's just another uh idea that I want to you know thrd out there yeah stff I to a professional airdrop farmer recently what he does is he has a team that goes out and gets air drops and he said the bane of his life was liquidity um basically he did all these things and then he would get these

102. 47:19

     accounts that had all this value but just be stuck with them uh for like a year and he was sort of basically just literally couldn't get enough capital in to keep this business running so it's a complete Game Changer that the ability to get something in liquid and like do a bit of work get something in liquid sell it fast get back on the horse do it again and the first person to get that done is going to make a bunch of money I reckon oh sure sure yeah I I mean it's

103. 47:45

     all those friction points that are there again whether it's through airdrops farming but even just the the the little stuff of just like right like I I need to transfer money to somewhat on a different thing and I'm only using that you know being that that middleman you know in a much more efficient safer way than bridging all those little things it's just uh tons of places to

104. 48:08

     go uh let me while while we're near the end here uh I want to just share my screen real quick and then uh we can talk through here so uh if you haven't already signed up uh please go to devpost and you can join the hackathon here uh tons of great information all about it so don't get confused up top it says n November 9th through 11th that's for the IRL event the hackathon submissions start opening up tomorrow and it goes all the way to the end of

105. 48:39

     October October 25th you have tons of time to build uh tons of things to do there's an initial Resource page which we'll keep updating you can jump in and see and you know all the stuff that we talked about today you can get right to the documentation uh it's all here if you have questions if you want to build a team if you never used Dev post before you can uh work on building a

106. 49:03

     team there all the rules everything else uh is all there and you know who to contact as you can see there over $500,000 in prizes uh and again you do not have to attend the IRL event to do this uh you can start building right away you can everything can be online uh and you can win so it's a it's really going to be an exci exting experience so I really encourage you to go sign up get involved get those updates uh and start

107. 49:32

     building as soon as you can as we come to the end here uh let's just kind of we go around the horn here and uh any kind of Last Words things like that uh let's start with uh uh Jazz uh any last words here for for building thoughts anything you got um nothing extraordinary I just I would just en encourage every body to start playing with the chain signature examples out there they're very simple very fundamental uh very easy to follow

108. 50:04

     they're all in the resources I guess um if you play around with a simple chain signature examples or a cross contract smart contract examples I think that would be a really good first thing you would do and then there's just so much to explore so I would just encourage everybody to go through the initial examples and build some foundation and just go from there do building whatever they

109. 50:28

     want perfect love it DMD what do you got for us i' just say like the technology is cool but um it's a little rough around the edges at the moment so I'd go and look at like what other people are building and where they're building it because you know beta has this great wallet diffuse is working on this sort of amazing um intent based system where you can just say I want X token in this account and I'm willing to buy it which

110. 50:53

     is sort of you know if you can find a way to get that into your product it will change the game and you know so we have this amazing onboarding technology um the thing this is best for is onboarding so you have some sort of proof you are who you say you are you have this sort of cross chain address so you can send arbitary things to a near account which will have an account in every single chain we have the ability to fund these

111. 51:16

     accounts we have the ability to move the correct assets at the last minute on there so you can just pay for everything using one token um I think the best product is going to come out is tax something to do with on boarding and something to do with cheap transactions for average people so um if anyone wants to I would look at what the fuse is doing look at what fast off is doing copy as much as you can and come out with something

112. 51:39

     cool awesome great Stu Rez uh I know you have one other idea that you wanted to share anything else you want to wrap up with oh yeah um well this is something I remember speaking with MJ about this one but um Bitcoin rues air drop could be like a potential idea as well for a hackathon uh basically this is something you cannot really do in Bitcoin and uh uh you should just like create a near smart contract that could facilitate um

113. 52:09

     this Bitcoin runes airdrop uh you have to you know pre-mine the the runes and they have to be residing in in addresses derived from chain signatures but just with that um and with the BTC like client uh the users could find um one of the BTC addresses and with a transaction fee and you know submit the transaction hash and you know BTC address for the for the year contract and then you can basically create U this B mass air drop for all Bitcoin runes um and just

114. 52:43

     another point that I wanted to to raise is you know like for me the cool thing about chain signatures and this is why this is what I tell everyone to experiment with it is for the first time in well not for the first time for for the first time like three years in defa you have something that is new this is not another chain that's going to get hyped and you build the same deex lending whatever just another chain

115. 53:08

     there's a rotation of capital and then and then it's over it's actually new tech and so yeah I think everyone should be experimenting with that out of all the ideas that that we've said um and we mentioned the fuse um and you know other teams like mint Bas with their with their wallet um the things that it would suggest at the moment uh for people to experiment with that would be um kind of more needed right now uh for

116. 53:40

     the ecosystem would be some things related to um lending and that sort of universal integration that MJ said about um you know like integrate chain signatures once and then then you can get access to all the chains because if you if you if you just go to the hype chain number two and then there's hype in another chain you have to deploy again it's easy if you have if it's basically an evm but if it's a non evm chain uh with a new

117. 54:13

     language or whatever it's just going to get more complex you have to deploy a lot of resources with ch signatures you get it just at the very first moment so um anything around that would be super interesting as well and yeah lending that Bitcoin anything related to that is going to be super interesting to us awesome yeah great great ideas uh really I think that such good stuff to highlight and if you are interested at all def res your point is 100% spoton

118. 54:44

     this is not only new tech and so it's not just something that's hyped it's built on top of a proven blockchain that has been tested that has you know the most usage right now throughout web three so uh you know it's not some Fly by Night type of thing either so uh really exciting stuff here and and another good point that I would make for protocols would be this thing that we we're living in defi with this rotation the problem that a lot of DBS have is that once you create a DB on a chain

119. 55:14

     like you're sort of attached to it attached to the success of that chain so if that chain is doing well and he hyped at the moment you're probably doing well too but we know how crypto works so at the moment that he goes down you're going to go down with it you have to deploy a new one you're seen as mercenary to you frend your liquidity if you do something with chain Senor choose you're basically everywhere and you're the hype of it you're you're not attached to a single chain so that that

120. 55:41

     you know that's another point of view that I see for long-term sustainability great point I love it good stuff uh MJ wrap up here yeah sure so sdmd and R mention the technology is really cool but I also want to add that we also have a great developer Community here people are already building like you know JavaScript library R for front ends you know rust Library race for smart contract um so yeah if you have any

121. 56:06

     questions feel free to join the chat group on Telegram and post a question there yeah great Point yeah uh you know as through proximity as a team devhub as a team we have tons of people who are there who are ready to come and support you if you have questions uh the community itself is very active so other developers who are working on similar things are there to help uh again don't be shy you know uh and don't just wait till the last minute to ask questions uh

122. 56:39

     because this probably somebody who's either facing the same thing or whatever else so uh great stuff today I I want to again if you haven't signed up yet hit the link at the bottom uh it's going to be a great opportunity to learn something new experiencing something you know new and exciting in this space and maybe win some really great prizes uh tons of prizes up for grabs for everybody there's going to be more

123. 57:03

     bounties overtime announced so if you go there now and you just see a few there's going to be even more uh in the coming week so uh it's it's it's a good time to get started early uh everyone on this call I want to thank you so much for your time uh this has been super helpful I think people are going to get a lot out of this uh again it will keep doing these uh leading up through throughout

124. 57:26

     the entire hackathon uh this was about chain abstraction so thank you again MJ resz Jazz David I really appreciate your guys time and we will be back uh well tomorrow the kickoff so we you will see us tomorrow uh 4M UTC we will do the actual kickoff of the submissions and go from there and you have all the way till October 25th to get your submission in all right thanks everybody appreciate it launching