Watch / Securing Layer 2 Networks with Ethereum, Decentralized Storage, and Shared Fishermen

Securing Layer 2 Networks with Ethereum, Decentralized Storage, and Shared Fishermen

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Securing Layer 2 Networks with Ethereum, Decentralized Storage, and Shared Fishermen

Duration: 00:22:13

Speaker: Dmitry Kurinskiy

Type: Talk

Expertise: Intermediate

Event: Devcon 5

Date: Oct 2019

Running data-intensive applications on top of existing blockchain platforms remains a challenge. Modern blockchains are designed for maximum security and have limited compute and storage capacity, which means they are too expensive to handle nontrivial amounts of data. However, traditional applications often need high transaction throughput and low latency of request processing. I will show how to address the scalability and cost efficiency requirements with a hybrid architecture composed of several layers. Speed layer consists of real-time shards directly talking to a client; security layer provides finality and consists of fishermen verifying past speed layer behavior; dispute resolution is served by the Ethereum smart contract; finally, decentralized storage networks such as Swarm or IPFS provide data availability. In this talk, we will go through the hybrid architecture approach and explore how it can make the cost of running a classical database (e.g., Redis or SQLite) in the decentralized environment comparable to its centralized deployments without compromising security.

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