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Secure Decentralized Oracles: Applying Intel SGX and TownCrier to external data, payments and off-chain computation

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Secure Decentralized Oracles: Applying Intel SGX and TownCrier to external data, payments and off-chain computation

Duration: 00:20:37

Speaker: Sergey Nazarov

Type: Talk

Expertise: Intermediate

Event: Devcon 3

Date: Nov 2017

We will cover the need for secure and maximally decentralized oracles for Ethereum smart contracts. The focus of the presentation will be on how allowing data providers, payment providers, and various API-based services to be accessed by Ethereum smart contracts through a decentralized oracle network can greatly expand functionality, while maintaining the key security guarantees of smart contracts. We’ll focus on how TownCrier’s approach to implementing Intel SGX enables third party oracles to be provably secure, as is already being done on production using the currently live TownCrier implementation. We’ll also look at how oracle operations and off-chain computation can be written in solidity to be run entirely in an SGX Enclave, allowing provable off-chain computation and retrieval of external resources. Smart contracts need to retain a high level of security in both the network they run on, and the inputs/outputs they rely on, we aim to show how decentralized oracle networks, TownCrier’s approach to using Intel SGX for secure external access , and off-chain computation using solidity in Intel SGX can together allow smart contracts to remain secure as they access key resources outside the Ethereum network.
About the speakers

SN

Sergey Nazarov

CEO

Sergey is the CEO of SmartContract.com and Chainlink, which specialize in providing highly secure and reliable oracles to both large enterprises (SWIFT; https://create.smartcontract.com/sibos17) and various leading smart contract development teams (Zeppelin; https://blog.zeppelinos.org/chainlink-partnership/, OpenLaw; https://medium.com/@OpenLawOfficial/openlaw-teams-with-chainlink-to-bring-real-world-info-to-smart-contracts-4e7a3dac80a8, etc…). Sergey has been building decentralized applications since 2014, initially launching Cryptamail as the first blockchain-based messaging service, then going on to build Secure Asset Exchange, which became the first widely used decentralized exchange interface.Sergey’s current goal is the creation of a thriving and diverse ecosystem of oracles, providing various off-chain data, payments and various other APIs to smart contracts for their immediate use. He’s extremely excited about the decentralization revolution currently under way, and is hopeful that the ability to securely combine smart contracts on Ethereum with off-chain data/events, will lead to a massive rise in both the volume and large scale usefulness of smart contracts.

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