Data Availability, Speed and Accuracy in a Multichain World | Brenda Loya - Tellor

hello hello okay finally on um I guess this happens to everyone all the time so I'm going to have to do my talk without the slides and that's okay um so when you walk away from my talk I want you to remember these three main things uh the very first one is that we can shrink the scalability trilemma but we cannot Escape it the number two thing or two and three things that you have should remember is that we are scaling and we're scaling in two very different ways that maybe we didn't foresee a while ago we're scaling through specialization and through diversification and if you guys don't remember anything about my talk and and don't get to see any of my slides at least remember that and know for the last few years everybody has been very focused on scalability and privacy research and that has led us to improvements really big improvements on bridging data and with that basically the eth killer narrative has died right because at you know we've been dreaming of this world where we take over the world and decentralize it either using defi you know bringing defi to the masses banking the unbanked but more than any bringing competition to governments true competition to governments so that they behave or hopefully in the hopes that they behave that they are become less corrupt or allow people more freedoms so we're not and we're not going to accomplish that at 12 transactions per second on ethereum so we have to scale and the E narrative even though it's dead it did serve its purpose which was competition because everybody was so focused on killing it I guess uh everybody started developing their own decentralized ecosystems and now we have polka do we have Cosmos we have Avalanche and we have a diversification of the ecosystem that we didn't expect to actually be able to embrace and now that we're here you know every everybody is basically moving towards building their own app chains so diversification served its purpose in that way and sorry and in this multi-chain environment the one thing that we haven't been able to escape is the fact that whether you're talking about you know building a dab chain or na chain that is you know follow follow a modular or a monolithic design is that you're still going to end up using Oracles in the current context and how we' been using um how how we've been building everything the design has always been modular for Integrations of oracles and that's not going to that is beginning to change now that we're specializing some dabs and some projects like dydx they went they built their own dab and they decided to include their Oracle within their own validators and the one one thing that I would just caution when you go and and and do this is that when you increase the requirements for the validators you're still going to have to choose you know in the trilemma you're increasing the requirements so that is should eventually lead to less notes and more more centralization and that's okay like not everybody wants to be super extra decentralized and that is okay it's just a choice a conscious choice that you do have to make and oracles for whether For Better or Worse whether you choose one one type of architecture or another are still going to be part of it and they have been modular this whole time and now we have to really start thinking about how we want to how we actually want to to grow that into the space not just because we needed to continue to experiment but because there are some very real regulatory risk you know in the LA last year I went through some um I think W and CCN they put out like all the different mishaps and hacks that have happened through the year I went through 77 of them and I got tired of seeing basically the same mistakes over and over again either bad implementations of an oracle or literally just bad uh private key mismanagement on on Bridges and this is just ammunition for Regulators to ultimately come and attempt to basically kill an industry that is at the experiment experimentation phase and that would be a well one it's it would be a shame but two like you know all of us I I think when I first started my journey in ethereum I was I thought I was so late to the system I was I was so late I was not going to be able to contribute in any in in any way all the hard problems were already solved and that was in 2018 and then you know that's in 2018 it's like Bitcoin kind of hooked me in ethereum and smart contracts really would you and you're like oh my God how cool would it be that I can you know deploy something on on chain and and make this contract do all of these cool things and then you know six years later when you're paying a bunch of really high gas fees you go back to the drawing board and you're like maybe this is not the way that you know that we're I'm going to be able to scale my own protocol so then you go back to the beginning so Bitcoin is basically the first up chain right all it does is it's a ledger it's the first app chain so now after you know going all around and getting into the into the space through ethereum we're going back to the drawing board and thinking how am I going to do this in a more efficient way and that's because you pay a bunch of gas prices and then once you start going into the the weeds of how to actually build your own blockchain then you start really going into research mode and then and then you realize six year later six years later that you were I I feel like now that in 2018 when I felt that I was so late into the space I was actually way too early and now in 2024 I still feel like I'm too early because now that I'm digging into everything I'm like there are so many things that we have not yet figured out but one thing that I have uh seen as the space grows is we were so focused on just dethroning ethereum that we ended up building something completely different that I I that achieved the same goal which was decentralization and through diversification and specialization and and no matter what you're building like if if you know whatever chain you decide to build there are some considerations that you're going to have to to take uh you know when when you're actually building this the number one is when you're actually building a dab chain or na chain whatever you guys want to call it um um security and gas prices you know you you generally go and build your own thing because you want to maybe decrease gas prices and maybe some more other efficiencies maybe you want to be faster but ultimately um having lower gas costs means that the cost to attack your network is lower as well so I don't know if you guys saw the levana protocol hack that happened I think in in late December or January of this year and what ended up happening to them they they went to an app chain and I think it's called Omega I forget the name of of the actual chain but the way that their protocol was attacked was by dsing the actual chain and so they couldn't get any upgrades updates on their Oracle system so similar to what happened on black Thursday um when you know if prices and gas prices just skyrocketed and then nobody could update their oracles and then there was a bunch of liquidations triggered that was actually something that didn't happen in my opinion purposefully it just happened but now they were moving into these stab chains that we're making it cheaper for people to attack the chains and through protocols through the chains um it's it's a risk that we we have to start taking into consideration and we have to be very mindful of how we build when that is an when that is a a known risk because in the past that was a mistake that was an error that was I don't know a mishap but now it's purposeful now people have the recipe and it is the first one to experience it but it's not going to be the last especially since we're all moving to be to building to um I'm trying to keep my track my time I'm sorry guys um since we're all building um and going back to I'm sorry I'm all over the place because um my presentation was supposed to be sort of a guide but anyway um I'm going to go back to just you know being in the space and talking about the resilience that we have built and that all of you guys bring into the system we have been working really hard for many many years and many many smart people are working really hard problems but at the end of the today what we're building is a consciousness of humanity that lets people know that value is created by people that is the biggest contribution that crypto is making currently it's not the technology which is also really cool um because it allows us to do that but the fact that that fact can syn in through meme coins I mean meme coins have value I mean just when people realize this that's going to be make a shift in Consciousness in terms of like your government it's like you know what you're corrupt we have a vehicle to be able to change that or to be able to force you to change and it's the tech is amazing and you know I subscribe to it I I love being in in in in the weeds of it but ultimately it's not the tech that's making the biggest impact but the way that we change how people think and behave in the future um so because I'm going to go through through my last slide um so crypto is are allowing people to realize governments can't Grant value that people do and the government and governments are realizing through crypto that they can be forked and that is the strength of what we are providing and we're building right now I thought I was too late to contribute in 2018 and now in 2024 I know I think I am too early and so are you but all of our collectives intelligence is what keeps pushing the industry forward and keeps pushing the boundaries and keep making this type of of uh improvements a reality so I don't know I leave you with that thought and thank you for for coming to my talk and being patient with my computer and problems [Applause] so know what's Happ