Ethereum and the DAO, Presentation May 26th, Crypto070 Meetup The Hague

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Information about Ethereum and the DAO, Presentation May 26th, Crypto070 Meetup The Hague

Published on December 19, 2016

Author: PascalVanHecke1

Source: slideshare.net

1. tomorrow’s transactions today Crypt070 meetup Den Haag, May 26th 2016

2. 2 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

3. 3 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 Smart contracts in Bitcoin • Contains a deliberately simple scripting language • A transaction = locking Bitcoin and describing how it can be unlocked • Examples: − Multisig: multiple signatures are needed to unlock − CheckLocktimeVerify: Bitcoin only spendable at some point in future − ….

4. 4 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 Smart contracts in Bitcoin • Contains a relatively simple scripting language • A transaction = locking Bitcoin and describing how it can be unlocked • Examples: − Multisig: multiple signatures are needed to unlock − CheckLocktimeVerify: Bitcoin only spendable at some point in future − …. Altcoin/Metacoin X More ”opcodes”, more functionality

5. 5 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

6. 6 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 Ethereum: anything is programmable “Classic “ blockchains • Addresses • Balance with “native” coin • Transactions • Blocks: transactions bundled Ethereum: • Addresses • + data storage • + code • Balance with Ether • + application-specific tokens with specific behaviour • Transactions • + creation of contract code • + calling contract code • Blocks: “transactions” • + ”new state” of entire system

7. 7 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

8. 8 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

9. 9 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

10. tomorrow’s transactions today Red sends 1.1 to green Blue sends 3 to green Grey sends 1 to red Blue sends 3 to red Red sends 1.1 to grey Red gets 50 for the puzzle!

11. 11 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

12. 12 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

13. 13 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 Slow and primitive, but… Promise: A 15-year old can deploy business logic that is: • Verifiable • Immutable • Untamperable • Untouchable

14. 14 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

15. 15 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

16. 16 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

17. 17 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

18. 18 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

19. 19 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

20. 20 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

21. 21 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

22. 22 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

23. 23 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

24. 24 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 Smart contract pattern 1 Lock thing of value in contract 2 Contract code determines redistribution 3 Based on information that is not yet known

25. 25 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 Smart contract pattern 1 Lock thing of value in contract • Native crypto • Tokens representing value… or abilities 2 Contract code determines redistribution 3 Based on information that is not yet known

26. 26 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 Smart contract pattern 1 Lock thing of value in contract • Native crypto • Tokens representing value… or abilities 2 Contract code determines redistribution 3 Based on information that is not yet known • Randomness • Actor • “Oracle”

27. 27 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

28. 28 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

29. 29 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

30. 30 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

31. 31 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

32. 32 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

33. 33 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

34. 34 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

35. 35 Ethereum & The DAO, Crypt070 meetup, May 26th 2016

36. 36 Ethereum & The DAO, Crypt070 meetup, May 26th 2016 DAO questions 1 Governance with 12000 ppl? 2 Regulatory uncertainty 3 Limitations of Biz Model

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