[Music] And for our last spotlight team, I want to bring on Hermman to tell you about Ethereum virtual virtual machines. Please give him a big round of applause.
Thank you, Cartik.
Okay. Hello. I'm Herman. I'm the CEO of the EVVM. There is the CTO over there.
That is Kevin and the CMO CMO Victor. So we are three of the team here right now. We came from Latin America. So it was a long trip. Nice to see you all here.
So EVVM what is it is secure and easy virtual blockchains. So what are you looking for? uh we are we are uh giving a solution to deploy cummized virtual blockchains ready to use on top of any blockchain. So there is a host blockchain that is an EVM could be maybe Ethereum mainet and with this solution you deploy using a smart contracts a new abstracted layer with all customization by you maybe in a few minutes on top of it. So what is this is easy for developers.
It's very simple to customize. It's one common deployment. We have already made an extensive dev tooling. There is UA libraries to implement in your tabs. We have workshops.
There is a complete documentation that you can see at evvvm.info. Uh it's open source and very interesting is upgradeable. So if next versions comes you can continue upgrading your virtual EVM. So uh some improvements that can be made on a EVVM uh we have like trusted execution uh environment relayers.
This is very interesting to for defy and and adding privacy layer to and doing some sharding also on your virtual layer. We have a name service that is full on chain. There is a stings reward to economics steel cocon lending is already developed and some functions that are very interesting that we think are improvements from EVM that are very easy to use and to make also new ones on the EVVM because everything is uh coded on solidity. This is very interesting is that you can have token white listing. You can have native tokens.
You can have synchronic and asynchronic nonsense. You can have executors. You can do disperse transactions natively. And you can use emails and phones as native ids on the transactions on chain. So how it works?
Make it as open as you need. You are deploying a private EVM environment on an EVM. So you can use in example a layer 2, RV, a layer 1, eum mainet and you will have this deployment that will behave like an EVM naturally but you put there your rules. So for to go from your EVVM to the host EVM is a the militarated zone. So you go wherever you want.
You have full collection as any smart contract has. But to go inside you will have an interface that you can set limits you can set permissions who can access to uh different parts some functions etc etc some uh virtual op codes abstracted up codes. So also for external transactions you can block some and you can have permission on some. So you will have your virtual blockchain on the blockchain. It's important to note that we are using the the consensus and the execution on the host.
We are abstracting the state. The state is ours on the host but we have our state there. And you can do also an abstraction of executor layer if you want to use relayers on or other actors. So you have your EVBM on the EVM ecosystem. It can interact with all the token smart contract that are on the EBM but you can do synthetics from them when you go through um a component that is aory and also you have access to all the protocols that are connected natively in the host EVM plus everything that you want to connect using in example relayers or whatever.
So the virtual uh blockchain components there is an EVVM core that is the main component where the state is and you can do there a lot of configurations and modifications there. You have a treasury is this can be on the same chain or can be in a different chain. So you can deploy a treasury maybe on mainet and you will have your EVVM core on arbitrum and you connect them directly but you have for defy proposes or security purposes your core component in another chain. There is native token account states relayers and services. So the evbn core the process erh to have a transaction the process is divided in three stages transaction created and signing.
So every transaction is like an intent or a metat transaction that inside the metadata is a transa transaction itself. So here is a schema and how is validated. uh then you can use fishers because we call them fishers because h is the re layers but you can use them to fish to capture transactions maybe in other men pools maybe with APIs maybe through an email maybe through an SMS message so it's it's like we call that also fishing spot uh and well through this the fishers or the relay will validate the transactions and then we'll finally execute it it on the chain uh If the transaction is not valid, the fisher or the relayer has no reason to do that. So will be reverted and the execution words is part of this also. So here to verify a signature is so simple.
In this example, we're going to use payment taker async function. So the fisher send the inputs plus the signature inside the function. After that the verification begins. So they use signatur verify message signal for pay. This is composed an string concat of all the inputs plus the function signature and comparing to the signature.
If it's correct the function continues. If not reverse the transaction. Okay, you have the full repo available also to check all the code and the documentation again at evvvm.info. So also there is another component that is the native tokens that are not mandatory but is recommended uh to use a native token not synthetic for utility.
You can maybe make it useful for the EVVM functions. You can have it also for rewards. It's already coded. So uh you can give benefits to the actors that are supporting the protocol to a better tokconomics incentives like give it to the relayers or to the people that is having good behavior. So later and in security the virtual blockchain so later you can share with them some yield from the synthetics that you are is taking somewhere else or or doing or or like using defy protocols to generate something.
uh and of course for access control. So maybe you can get token some functionalities or or well we already do that also. So uh this is optional but it's very interesting. In this example we can see if the executor is a staker. If it is continues the transaction.
If not, revert the transaction. After verification, the executor receive a reward for process that transaction. Also, the staker receives yield by AOX. An example of how the estimator works. The estimator is the one the contract that is giving the rewards to the stakers is fully calculated on chain.
H. It's about 60k lines of solidity the world solution we are just showing that is very easy to configure to use to modify because it's on solidity. So there is also another component that is the account state uh to avoid double spending an is always needed but here is something interesting we have sync nons is the standard but we think ethereum needs something that is a syness and we can very easily implement it on the EVVM so you can use a sync nonsis when I need something right now there is some transactions mine in the queue so I send an async transaction and will be executed now there is the opposite I don't care about this charge me later because it's for purity I'm paying some insurance or something and of course the company will execute it on my behalf and it's possible and trigger execution in example defy orders I just send a transaction that will be triggered by some smart contract by some rules I cannot be triggered by someone else using the executor function so this will work also
we have two types of nonsess sync sync nonsess and async nonsess. The key characteristic of sync nonsis is that the sync nonsis has sequential incrementing. Each successful transactions increase the nons value by exactly one unit. And the key characteristic of asing nonsis is nonsequential. Numbers don't need to follow any particular order or sequence.
And we have executor. This function characteristic is that an certain address can execute this transaction. Think of like a voucher. This voucher can be redeemed only by an specified address. Okay.
And then we also have a name service. Very interesting. You can use emails, you can use phones natively on the transactions, writing an email on a transaction in place of an address on chain and will be resolved the same with a with a name. Uh we have also um a schema of metadata that you can add on chain for these names and a demand bus renewal fees proposed by Vitalic is something very interesting. So our renewal will be based in the highest offer that we get for the domain through a staking with a max cap and this will solve cyber squitting but also people will start using all their domain names and it's fully on chain.
I will skip this video because I I'm taking too much time. Uh so we are working on banking solutions using trusted execution environments for offuscation and privacy through the banks can go into the defy and then uh they are configuring h access also for any user. So the users can go interact into the banking defy ecosystems with or without being consumers of them and the banks can also transact with privacy banks or institutions on the same pools or on the same uh different protocols through these interfaces. uh we also worked with AB through a grant that we got and we have ready this h to publish this service when we go to mainet we are on test net now also if you go to evvm.org or you can join the weight list to get access to the test net.
So there is go liquidity providers. There is a lending service that is working with go and then everything that is locked there is going through to a to generate yield and then this is h spread among the actors that are helping on this and okay some EVVM use cases valable integrations that we are waiting to see banking defy gaming art social and we are developing the CK EVVM for the future on the end of this year we will have uh proof of concept version. So, please stay connected and thank you so much [Music]
Automatic transcript — names and jargon may be misspelled.