[Applause]
hello my name is max clavicle I am an
engineer with coinbase custody I am
extremely excited to be here today in as
you can see my talk is titled smart
contract interaction out of the coal
business direction
so at point-based custody we provide
friction as a teacher we introduced
barriers that make it extremely
difficult for attackers to steal our
customers funds we take our private keys
char them up into many many pieces it's
sort of them completely off flush we
only use any given address once to sign
transactions and then we roll over the
customers funds to a new address and we
also have a very talented ops team who
personally verify each transaction so
these features differentiate ourselves
from our competitors they are the reason
why more people choose us to hold their
crypto than any other custodian on the
planet and so we support many currencies
but as the most successful smart
contract platform
etherium provides unique challenges to
how our system works so you know our
top-of-the-line security comes out of
the box you know you're either safe but
we don't be struggle to do some of the
things that make a theorem the most
exciting platform so as far as
interacting with contracts that require
high transaction girl but like
governance or any meeting or you name it
you know since it takes a non-trivial
amount of time for us to reconstruct the
keys you know we start to do that you
know and for interacting with smart
contracts like in traversing the way
that require funds to stay put we simply
can't support that out of the box since
we roll over our funds to a new address
Kotaku sign
but I point base custody you take a cue
from my manga hero yabai city here and
we surpass events right here right now
so how do we do that I will introduce to
you the proxy smart contract better that
we use so using this pattern we can
continue to provide world-class security
while also giving our users originalist
user experience so how does it work
let's say we want to let our customers
projects participate in major
governments what a coincidence
so whenever we approached a new
integration we start by writing a
customized proxy contract that fits
around the external contract length of
life so as you can see there aren't
really a lot of bells and whistles you
know we just create a thin aside over
the external contract and we call the
external contract methods using the
proxy contract that's the identity and
so when we're on board a new customer to
one of these integrations we start by
pairing them with a hot address with a
tiny bit of ether in it just to make
contract call us opinions we then use
that address to deploy a contract on
behalf of the customer and we designate
a new cold storage address the return
address that the funds will ultimately
arrive and so once the contract is
deployed we move the customers whole
balance of either either or tokens to
the contract depending on what it's
trying to and once the funds are in the
contract the fund can really begin we
can use the hot address to make as many
quick and risk for any contract falls to
the external contract
possible using the proxy as the bridge
since the proxy has the customers full
balance they don't find the influence on
any of these networks in nature so if
you're voting for maker governance
voting environment if you're signaling
for edge for signaling you're signaling
authority it's there there is still able
to wield the full EFT of their principle
and when customers are done interacting
with the process contracts we call that
previously Toronto visa will send the
funds back to safety with old storage so
with this cop witness pattern were able
to smash our limits we're able to
continue to provide world-class security
while also giving our users a
frictionless customer experience while
interacting with extra context our enemy
hero y'all may see the euro is brown so
that's my talk
thanks bro this name my name is nest
[Applause]