Preconfirmations and Based Sequencing | Irfan Shaik

all right we made it Saturday afternoon um just as a reminder we have one more speaker and then after the speaker right here uh on this stage we will have judging um one of the one of the best parts of ethereum Denver so stick around um but first uh I'd like to introduce Iran Shake founder of Interstate um so please give him a round of applause hello hello um hope everyone's having fun on Saturday um I know I had a really really lit eat Denver um yeah let's wait for the slides to come up cool Okay cool so uh the presentation today will be around pre-ms and base rollups uh for context um I'm uh a Founder at interstate which is um currently on test net and hoping to put uh pre-com on mayet uh within the month so um what uh so so what proms are are a way to get continuous transaction confirmations on the L1 effectively what we have now on eth is 12C block times um what we're trying to bring to eth is instant and continuous confirmations so um so so so what you in in the ideal end State you'll be able to send uh multiple transactions one after the other and get them confirmed uh between a single block cool so the way we accomplish this is we overload the PBS pipeline um essentially instead of submitting your transaction into the M Pool what you do is you submit it into the uh next up validator um on ethereum you have a 32 slot look ahead so any given time you know who the next proposer is so the idea is instead of submitting it into the me poool and waiting 12 seconds to get uh for some for some Builder to pick it up you can submit it directly into the PBS pipeline um and and get an instant guarantee that a that a builder will definitely pick it up let's try to make this bigger cool so um so what we have today in the PBS pipeline is you have a you have a validator which is opted into multiple relays um which is opted into multiple Builders um and and and and and this is what exists today in the existing L1 PBS pipeline what we're doing is we're adding a new component um we're adding the functionality into the relays to enable them to accept um pre-com transactions and and what this does is it allows relays to um instantly give a guarantee that uh there'll be certain constraints to the block the Builder produces um effectively what you're saying is uh in between one block you're giving in between one block the Builder is giving a guarantee that uh the next block will will include uh certain set of transactions this requires really broad validator opt-in so at interstate we're dealing with like hundreds of thousands of validators So speaking with like every major Valor on ethereum and trying to convince them to opt into um uh enabling this feature um the status quo today is single sequencer blockchains so the majority of l2s are uh one machine sitting somewhere in the world um that writes State rout da to L1 um they're effectively issuing reputation based pre- confirmations there's no guarantee that the sequencer isn't censoring um and they pay very little to the L1 for da fees um so something like a major L2 might make um quite a bit a year and they'll pay some like 3% of net revenue um to L1 and da fees um base l2s are much better because they um they they have no independent uh they effectively move their L2 blocks forward with the L1 state so they don't have their own independent blocks their blocks and the L1 blocks are the same thing um um uh leading leading based LTS like Tao are paying like 100k a week uh in da fees to the L1 this is um this is a substantial Improvement they also enable intr between l2s so you can get synchronous cross-chain transactions um yeah base rollups are clearly more decentralized why um most most rollups are single sequencer machines meaning your trusting a single sequencer sitting somewhere in the world this is a single server um on on the Bas side um um the sequencer rotates with the L1 validator so instead of having one validator one sequencer you have a million and a half sequencers which is the same as the L1 [Music] validators um yeah based l2s are synchronous composable with other l2s and also L1 in the end State um and they do this by opting into a joint Builder effectively um um effectively on ethereum we have a bunch of shared composability J zones we have optimism super chain we've got agair we've got others um and these are effectively composability zones within within within um like certain certain subsets of ethereum what we're enabling is composability between all of ethereum um we think that uh uh the L1 is the best shared composability Zone um the most credibly neutral shared composability Zone and the base R up is effectively opting into the L1 as the uh synchronous composability zone so by opting into the same uh the same Builder the same building pipeline as the L1 you enable U multiple l2s to build their blocks together enabling synchronous composability yeah so um yeah at interstate we're doing the work of enabling um we're we're doing the work of enabling based grups to have much shorter block times we're doing the work of getting broad optin from the ethereum community so this really involves dealing this involves dealing with like uh the majority of ethereum validators getting them to opt into this pre-f network um we're making substantial changes to the PBS pipeline so um as you can imagine it requires a really broad opt-in from multiple parties so it requires opt-in from all the builders the relays it requires opt in from all the validators of which there's like 1.5 million it requires opt in from the base rollups um which we think will soon there'll be hundreds of Base rollups um so so so so the work we're doing kind of since the we're working on the core PBS pipeline working with um yeah the millions of the million Val that are out there working with uh dozens of relays and the many Builders um so we're really sitting at the core of ethereum um yeah we're actively hiring so if you want to do work sitting at the the cor ethereum we we your folks um yeah that's it's a Saturday evening so I'll give you guys some time back but um that's the presentation thank you