hello everyone thank you for having me
here today
my name is Thomas I'm the CEO and
founder of provable provable is a
blockchain Oracle service that has been
operating in the tearoom space since
2015
so duties during this presentation I
will show you what is the trust model
that we are using with our Oracle
service and we try to understand what
are the trust implications and what's
the challenge behind the you know
designing of social services and in the
last part I will like introduce a new
project based on the same trans model
which is called the P tokens and this is
basically a two-way peg for tokens which
are native to one blockchain so that we
can use them like on a theorem or on
other blockchain so let's start with
like a brief introduction to understand
the like some terms that we will be
using during the presentation so the
three entities we are interested in are
basically the data source which is like
a Web API or a source for external data
that doesn't live on the blockchain then
we have the application which typically
will be a smart contract and we have the
Oracle which is this like new
intermediary in a word that is trying to
get rid of intermediaries right so why
do we need like an Oracle to reach out
to external data well this is because of
the way the blushin works so it's not
possible to reach out to like the
internet from within the blockchain so
the or core somehow enables that we see
later how this is possible but the
Oracle is basically an actor that
operates on the blockchain but he's also
capable somehow to reach out outside to
the data source so as you see already
here the data source is always to be
trusted because the data in general is
something inherently trusted like if we
have a smart contract that needs to
release a payment when you know given
flight is late or if the temperature is
reaching a some degrees or like if
number of views of a YouTube video go
above a certain limit then we always
have like a third party that is like
claiming what the correct answer to
those questions is so one example for
the number of like views for a YouTube
video is that YouTube is the one telling
us how many views the video has and we
have no way to independently verify that
so we always need to trust YouTube in
the same way if we if I was asking you
like what's the temperature here today
I'm sure I will get different answers
but most of you will probably look for
the first results on Google and the
reality is that we don't know like the
precision that we are looking for as for
the this data we don't know the exact
location so you know the data source is
always making some assumptions so we
need to trust the the data source for
the data's providing is like the data we
are pushing to the blockchain is always
like a claim coming from the data source
yes sorry so as I said we have been
around for a while so this enabled us to
collect some interesting data the data
you can see here it's quite small but
they will help you to to understand it
so over the last like four years we have
processed over 1 million transactions on
the T domain net asking for external
data and if you look on github there are
approximately 1,000 Gita open source
smart contracts that are basically using
the Oracle service so we have like
process this data to understand what
those contracts do but they're like
field and basically what we found out is
that of course there is a lot around you
know D Phi so a certain tokens or you
know I cos that needs to check a price
feed because maybe they wants to fix
like the contribution in USD instead but
they receive eaters or things like that
but there is also a lot around gambling
as you can see here because the
randomness is yet another like piece of
data which is not
easy to compute straight on the
blockchain without having like the - to
possibly collude so the D role of the
Oracle goes way beyond the fetching of
the data from a Web API it could be
really the offloading to of a
competition to an Austrian context but
it could be much more as we see later so
the model the provable as adopted is the
one of using the basically trusted
computing techniques to prove that the
data we are fetching from a Web API is
indeed authentic and it has not been
tampered with during the delivery
process so you don't want the Oracle to
potentially like compromise the data so
you're already trusting data source you
shouldn't trust the Oracle as the Oracle
could potentially you know change the
data it has received from the data
source and just push something different
to the blushing so it may trigger like a
Bronk payment on the blockchain or it
may lead to Bronk results so what you
want is the Oracle not to be trusted and
that's why you need the like some kind
of proofs that the data delivered is
correct is is authentic
so provable has been doing that with
trusted computing techniques for those
of you who are not familiar around
trusted computing the idea is to
basically use some like dedicated chips
that provide sandboxing in hardware for
the execution of a given piece of code
so basically we publish the code that
gets executed on those special machines
and with those machines help to to
generate an authenticity proof so it's
basically something that along with the
result helps to understand that the
computation has happened within those
safe boundaries we send them to the
blockchain and then basically this
provides like a shield against the
manipulations during the data delivery
so this enables you to verify that the
Oracle has sent the answer but it is not
the like owner of the data and the owner
of the data is really the website so
there has been no alteration during the
process this is why they are called like
authenticity bras there are many like
challenges around Oracle's it's not just
around it you know proving the
authenticity of data which has been our
main like focus for the last years there
are many more challenges so as you can
see here one is around you know relying
on reliable data sources we don't want
to you know push data to the blocks in a
way which is secure and then have low
quality data sources that cannot really
be trusted
so this is something where well players
like Thomson Reuters but also streamer
and few others are working a lot so that
they can basically provide some
guarantees on the selected data sources
and they can provide quality data to to
the blossom and the way to basically not
rely on a single trust line on the data
source front is to basically use more
than one data source so in the case of
the price of each other for instance is
quite simple because you can just you
know do an average on all the exchanges
that have the majority of the trading
volumes so you have something accurate
which doesn't have like points of
failure theory but it depends it can get
much harder depending on the data you
want
as I said for with the example of the
number of views for a YouTube video you
have no possibility to go you know to
avoid the trust on with Google because
it's just something which inherently
belongs to to YouTube right so YouTube
is somehow the only data source you you
you will need to do reach out to then as
for the like authenticity of the data we
have been using few technologies such as
like the trusted execution environment
of Qualcomm the legend on us the some of
you some of you may be familiar with and
Intel SGX so this is something that's
also chain linked with the town crier
project has been working on there are a
few options on that front but using
trusted computing is quite general
purpose so it can help to basically
provide those guarantees for the
execution of something on the option
context while interacting with
young-shin context also there is a lot
of work go
on the protocol that those Oracle's
should use while speaking with the
blockchain
so chain link but also make a dao
compound rhombus and others also with
net they are working on on that front we
have been doing so for few years as well
and I think those systems will end up to
interoperate one with the other and
depending on like the needs of the smart
contract there will be the adoption or
of one system over the other so for
example as you will see in a second the
provable one is optimized for being a
cost-effective on chain so the gas cost
is very low and it doesn't give strong
guarantees on the fact that the
unanswered will be provided but it
provides guarantees on the fact that
when an answer is sent to the blocking
it's really authentic so you know that
basically if you get an answer the
answer is secure while other systems
focus also on like giving some more
guarantees around the redundancy so that
basically you can potentially have also
a guarantee that the result will be sent
so that's why for instance we are
looking to integrate with other systems
here so if someone is interested to pay
a premium because maybe they want more
redundancy then they can go via other
Oracle systems and still benefit from
our authenticity process so over the
years what we have like heard from the
community as for the community feedback
is basically that this is what they were
looking for like a reduced cost because
many times you have like a transaction
on a theorem that needs to reach out to
external data and you don't really want
this external data fetching to like
increase significantly the cost of your
transaction you're already paying like
the gas price for confirming transaction
you don't want the Oracle to impact
significantly on that cost so this is
why having a fully decentralized
approach is typically more expensive and
for some applications it may be like it
may not be a good fit so it depends on
the application if you have an
application where for instance you want
to like get external data for every
transaction doing it in a fully
decentralized way maybe we're more
expensive so it depends like for
gambling for instance I don't think that
decentralization provides really a
strong benefit on the random number
generation part why for other things
like price feeds you may want like to
get data every few minutes instead that
then every transaction so you may want
to obtain in a more like decentralized
approach and pay a premium for that also
the other things you see here like data
security so the authenticity proofs
approach and more they are all like
critical components that are needed
because you don't want to compromise the
security of your smart contract again
and also reputation systems of course
are something that is often mentioned
and that somehow is part of those Oracle
systems that are being implemented and
where the ease of use as well because he
really wants to you know you don't want
the Oracle components to complicate too
much the way your application is
structure so so basically the
technologies as I said that we work with
are basically blockchain in general
because we don't integrate just with a
theorem we have integrations with a few
blocks but the theorem is the one with
most of the traction and trusted
execution environments so trusted
computing techniques of different kinds
so at the moment we have approximately
200 projects that are reaching out to
provable every month from their smart
contracts to to get real-world data and
as I said most of them are around like
the generation of random numbers price
feeds or like a variety of web API calls
that connect some advanced like off
chain computations typically with the on
chain smart contracts that may just you
know release a payment so Oracle is
currently integrated with it'll may not
but also with many test nets basically
all the main etherium testaments
and also with like other Oracle's
Network and with some side chains so we
have focused a lot in the last few years
on the random number generation use case
because it's actually a strong need and
it has been one of the first
applications getting some traction in
the etherium space and before also in
the Bitcoin space if you think of
Satoshi dice which was like the first
application on Bitcoin death caused like
a spike in the transaction volumes in
2012 so the technology we have used to
like provide the provable random number
generator which is a part of the Oracle
are the ones you see mention here so
it's quite interesting the use of the
ledger te because most of us know the
legend an OS has the you know Hardware
wallet to secure you know if or other
tokens but the reality is that the
security guarantee is provided by the
legend an OS could be used for custom
applications and you can really
implement anything within the safe
boundaries of the legend an OS Y proving
to third parties that you know the
application was really running on a
legend an OS with North durations so
this is what we are using for the random
number generator for instance these are
the networks I was mentioning where we
are integrated as you see we also have
like other ATM based networks such as
our SK but also other networks which are
not a tea room based EDM based such as
us art record fabric and others so um
everyone is discussing this year about
defy which is really a new term for
something that you know we have always
discussed which is the potential of
decentralized financial applications in
this space so I found that tweet a few
months ago quite interesting as it's
basically showing as we have seen in
other presentations as well that like
the composability of those defy tools is
somehow leading to many interesting use
cases and everyone is building
on top of other components that are
built by other teams so thinking about
that I think we could really split the
needs of defy into categories so the
first one is the engine which is like
the platform where you want to run the
defy tool and at the moment it's mostly
tedium right so we have something that I
like on eros but it's still quite
limited
why because on on you don't really have
other you know the rest of the ecosystem
is sort of missing
so a tedium got a lot of traction for
different reasons for the technology but
I would say that one of the main points
in favor of a team today is the huge
like developers base and the user base
and the fact that we already have some
initial traction differently than other
blushes so this is probably one of the
main reasons why defy is being built
there and why there are so many new
tools that are being built there
so interoperability of blockchain and
composability of those defy tools are
helping to like grow significantly the
relevance of define in general so the
first thing you need is like the engine
as I said which today is a theorem and
that that's fine as there doesn't seem
to be like requests from the users to to
move it as well so that's that's where
we are building and then you need assets
right this is what's also listed in the
TWiT but we've been saying like tokens
of all kinds that you know are interest
bearing or that I have other properties
think of like Rob the bitcoin is one of
example of that where you have a
federation securing basically any RC 20
token on a theorem which is
collateralized by Bitcoin and yeah
the point is do we really believe that
like all those defy tools we'll never
have any need outside of a theorem well
I guess the answer is already there with
W BTC right we see there is a first need
for like going beyond the limits of the
platform where the defy those are
operating which is a theorem so we have
if you look on current market cap
the like tools being the the assets
being traded that I have most of the
volumes and also the liquidity are not
just a Tyrian based so some of them are
18 on base but you have many others that
are not adhere on base not to talk about
the you know non-blocking assets so
there is a strong need to go beyond that
so that's why we started to work on this
new project called the P tokens this is
based on the provable infrastructure and
provable technology P stands for a few
things instance for provable but it's
also stands for portable tokens and also
for pegged tokens because what they are
is really just a two-way back with
tokens from that live natively on a
different block containing helium but
the P tokens are their representation on
it of a material so it's basically the
same thing you may have already tested
out with W BTC but it goes beyond that
because it could either be like in
support of a federation so it could be
something used on top of W BTC or it's
something you can use to potentially
like replicate WBT see without the
Federation or start other tokens without
bootstrapping a new Federation again and
again so I believe this is like quite
significant for the impact it could have
on defi so I want to explain you how it
works
the the test assumption is the same one
we had built the provable Oracle service
on so its uses trusted computing to
secure the packing and it can be
integrated with like any blockchain
really for the way it works so it's very
general purpose so let me show you
what's the what's the flaw so this is
like a general representation of DT on
blockchain on the right and on the left
you have a blush in which is known at
Eden based so it's like the the first
one we release is years as it didn't
exist on a theorem so it will be like a
PE Oz token on a theorem but it is
disciplinary 20 blushing so it could be
a Bitcoin it could be you know rape or
or whatever whatever there is our need
for in the defi ecosystem on
on a theorem so you have the trusted
execution environment in the middle
which is the secure sign books executed
on Intel SGX in this case and basically
what the what the what happens is that
the the securing clave at the moment is
running within like those boxes that we
had as part of our infrastructure but it
could be run anywhere so you can run it
on your own like Intel SGX machine it
could be run in the cloud with some
Intel SGX enable the machines or you can
just use one of those machines as well
if like you want to potentially secure
this two-way back and contribute to the
redundancy of it so it doesn't it need
to be limited to Intel SGX the concept
goes beyond SGX itself but the first
implementation will be honest reacts as
if the like easier the easiest to get
started with and the code is quite
complex at the moment
the code is open source so basically
anyone will be able to to verify the
code and know that the true way peg is
actually secure and it's running as
intended so it gives full transparency
which is not reputation based so that's
why you know you don't necessarily need
a Federation you can potentially use it
with other Federation or in support of
Federation to minimize the trust in the
players involved so we in the peos use
case that's what happens with the
issuance of new POS tokens so you
basically send like a new transaction to
a specific address which is probably
under the control of the clave of the
trusted execution environment and then
you send to the trusted execution
environment approve of that like a proof
of the deposit so the in clave will be
able to verify that this deposit opened
correctly and will authorize on a
theorem a transaction where that
basically issues the new POS tokens so
the opposite happens when you want to
like Banda token and redeem DPOs token
so the POS token can like freely be
exchanged on a theorem as NESC 20 token
and at any time in an automated way with
no manual intervention
it can just be redeemed for the
underlying asset which in this case is
ears so what you will do is basically
barring the use DPS token and when you
burn it you specify the ears address
that where you want to redeem the de oz
torque and so on and what happens is
that basically after the trusted
execution environment has verified that
everything is correct it really is the
ears focus accordingly so there is no
possibility to steal funds is fully
transparent and secure thanks to the
trusted computing component and yeah so
we have a demo working we plan to
release the production version of the PS
token by end of month but now we are
looking for community feedback and we
are discussing with defy tools to see if
they are interested and what tokens they
would like to have on a theorem so if
you are interested to potentially have
like on etherium a token which is not
there at the moment please reach out and
we will be happy to support you so this
is the dub that you will be connecting
to it's ready actually everything is
already working we are finalizing the
enclaved component at the moment but the
blockchain component is already
finalized so what you have ended up is
well just a transparent Luke house -
like the minting events and binding
events so you can check that you know DP
of tokens and the underlying euros
tokens do match and then you would see
the state of the enclaves so this is the
trusted computing you will see the last
year's and the last item block that is
that are known to the in clave and there
are some statistics here on like the
operations that has been done by the in
Cleveland that are reported by it you
can also like issue and redeem via deed
up the tokens independently at any time
with no intervention so that's much
faster than any alternative solution
like WB TC or in general since there is
no human intervention for the main thing
or anything like that it can be really
done very quickly so in the case of like
Bitcoin for example you would just need
to wait for the confirmation
time so this is a recap so basically we
have worked a lot recently on securing
like the the Oracle service which is
already like stable and use the a lot on
DT no maintenance we have also released
like new certifications for regulated
casinos around the provable RNG but our
recent area focus has become the P
tokens which we believe will use the
same technology while providing like a
service which is strongly needed today
in DD Phi ecosystem so if you are
interested well sorry this was like P
tokens dot IO is a website where you can
go ahead there is like a whitepaper
there is the draft of a white paper that
we have released today and there is a
telegram channel where you can join the
discussion if you are interested on the
topic so it's betoken so ty oh thank you
for your attention
Thanks
[Applause]
you