How LUKSO will UP!grade the blockchain user experience

Transcript

foreign [Music] hello and welcome nice that you're here for my presentation of how Luxo will upgrade the blockchain user experience a few years ago we set out starting a network or ideating a network that's for the new creative economy actually we published a white paper in 2019 called the blueprint for the nuclear economies that's something that a few years later

in the last two years we have seen the nft wave kind of became true the first wave of where the crater economy became a thing um the idea is to have a network that's for Creative people Brands artists journalists decentralized social media literally everything that we see today in the web that's not on blockchain yet to have a home and what it really needs is it truly needs that you own your own profiles your own accounts to internet act in a social manner um and the idea of Luxor is to create this place where more human interactions

take place and where blockchain and decentralization functions as a tool to make people interact globally and create the the foundation for the nuclear economies that happened and we started mainnet in March 23rd at 4 20. um it was a long journey years before to start a network and we have we've done that minute started who hasn't heard about that you're late to the party it's happened a month ago and it started decentralized we actually started with over 10 000 Genesis validators people could send Lux e on

ethereum to a Smart contract send the Val data keys and become a Genus Val data and they were nicely distributed as you can see on the map on the top we even have a note in Alaska somebody's running a note there and over the last one half months it has grown people are coming in we have now over 22 000 validators and another 8 000 Cubed on top of this we have to say that we as the foundation and we as the Luxo company do not run a single validator and have not yet so far and probably will never and when you look at the Network's distribution you know big question about decentralization

um we initially offered the community three options of how they could start the network or agree on their own total Supply and they agreed with us on 42 million they generated the the Genesis files they started the network and assigned a portion of that to the foundation for the new creative economies in Switzerland or called Fancy um which holds 26 of the network currently and to make this short in order to make sure that this decentralizes we have set in the deed that when two billion dollar market cap is reached 70 of the assets have to be made inaccessible over five

years and to reduce the the single ownership of an entity of a large State Network and there's the Lux e to Lux migration it's ongoing actually we have over 4.4 million Lux e migrated already to Lux out of 15 in total that could be migrating so that's ongoing right now started in 4th of June so you're probably asking why another blockchain and I will answer that question later the space has a fundamental problem and I need to hurry because I'm only 15 minutes so bear with me um and the biggest problem is to blockchain account in the fact it's the blockchain key right the problem is it's hard to

use it's [ __ ] to use and it's very complicated and there's actually real reasons for that but it's just complicated and we all figured it out already right using blockchain is hard because everything is just based on the key so the talk has been about account obstruction we have seen that the last few conferences has been ux and account abstraction how we do all of this better blah blah blah just yesterday actually vitalik right here uh talked about this but the funny thing is that actually nobody is talking about the account they're talking about transaction verification and how do I get a Smart Connect account on the network and how can I make it so that it's seamless for users to interact

with blockchain that's the current discussion state in ethereum the real important thing is actually the blockchain-based account it's the thing that you're actually using on chain and so far there's no discussions about about that uh within the last conferences that have a greater significance and it's actually not an account it should be a profile same like you know the profiles that we use in the internet started thinking about this already since 2017 when I created a standard called USC 705 that you know got some hype got in the lines forming got a bunch of projects

who wanted to use it and in the course of uh building out Luxo and thinking about Luxor I basically built out a set of smart contract standards that we worked and developed and implemented and built out everything around that and we call them Luxo standards proposals or short LSPs in order to Define a blockchain based account system called Universal profiles and what is this weird thing in the corner that's not for me what the heck

um wow um and Universe Robot is basically a smartphone based account system that I want to introduce to you and that really really changed the problems and changed the game of the blockchain space at large and you will see why and but let me remove this weird thing here in the corner that I don't know what it is stop airdropping [ __ ] to my computer please so um so the one piece of your account is the

metadata that you attach your account or called lsp3 and you can attach any information any metadata to a profile that can be account information it can be smart kind of readable information that's sitting in a key value store called EOS 11 to 5y so it's a portion of the ESC standard the es75 standard you have the ability to interact with any kind of assets or protocol it's a generic account system that can do generic execution but it can also react on anything and the very important feature is the universal receiver standard is actually lsp1 that allows any protocol to inform

a profile in a generic way so don't don't we have so we don't have to add always custom new function for every uh asset that somebody invents right ERC on token received and seven to one non-token received and all of these things there's a universal way to be informed and in fact your profile can even delegate that to an external contract that means you can now upgrade the way you're interacting or like you're acting on incoming assets and you can even have multiple contracts based on a different type IDs and different types of interactions that are coming in the the way of how it currently works with the

University of a delegate that we have is that when you are receiving a token it's actually written into your profiles key Value Store it writes the um the token address or the nft address into your profile itself that creates a decentralized portfolio and it creates a way for other smart contracts to know what you have or verify what you have or verify what you actually issue as well so you already have out of the box a decentralized account plus tracking all your stuff without needing ether scan um you can manage that through a single UA and then we would be kind of like in the old days but you can manage this also through

multiple devices using a key manager system but in order to make it simpler and you don't have to talk to the key manager smart contract to interact with your profile we have something called lsp20 that allows calls to be verified from within the conduct itself so you're talking only to the profile contract itself and the verification happens automatically internally you can upgrade the key manager give it whatever you know if people want to invent a fancy new key manager with more permissions and more logic and more whatever you can you just swap that out and help you have a better functionality on your permissions and that's exactly the fact we have permissions so people think for example it's not a safe might be a great account

it's a multi-sick I'm really sick that gives multiple addresses control over that account and if you want to use it as a single person with mobile devices it would be in one out of M that means everybody every of your device has exact same rights here with lsp6 we have different levels of permission so you can have permissions to add new permissions change the owner turn on re-entrancy transfer value do calls to other smart contracts and indirect other smart contracts you can even restrict them on certain addresses or functions that they can call or standards that can even interact with so the amount of levels of like detail permissions that you just can set here

that it doesn't exist right now anywhere in the Smart Connect space um you can use dynamic ethereum because your account can verify its signatures and you can extend it you can actually add new functions to your profile by simply adding a key Value Store into your profile meaning the function and the Smart Connect should be delegated to and then you can just add functions for example if you want to have 4337 support right in the future um you can also do batch calls so you can have multiple executions in one single transaction if the order of execution is important or you want to prevent certain type of attacks

and most importantly it allows for gas protections anyone that has a anyone can send a transaction to your profile as long as it's sent by one of your controller Keys it will execute and work this allows for transaction relay Services you could call them bundler in 4337 that basically send transactions for maybe a monthly fee right 20 bucks a month 20 million gas a month and because you see the nice quota that's also standardized you can now interact with a blockchain you know and understand not anything to understand what gas means but understanding that probably 10 million gas 20 million gas give you

enough interactions per month and all this together makes LSP zero and lspco is the that's the combination between LSP and ERC here comes together that's the es75 account that actually was started this whole thing and it's now a subset of a lot of Standards put together creating the universal profiles so you're asking why another blockchain because my time is very short so the problem is the USC space is extremely messy right we have 7 000 ercs and if you see this in fact 7144 is still about ESP 20.

like literally seven years later we're still trying to add a [ __ ] to years 20. so that's kind of a joke and the problem is it's way too complicated and way too messy and in order to cut the the Slate clean make the proper new basic building blocks that we need in order to move this to a Next Level we need to start from scratch and we need to build these standards do them in the right way clean up the old mess make the interoperable and especially adding the smart color based account and that's what we have been doing over the last few years and you need a new network because we need to subsidize early users we need to subsidize the initial uh

smart deployment and the first users transactions until there is a transaction really a service ecosystem and there's a lot of them competing for users and they will offer the first free account 10 million gas for free and then charge them like a monthly fee or whatever you know business model they come up with um so without a network a new network that's impossible none of these standards and none of that clean slate would be possible and that's what we need to get real new innovation to create really new use cases and bring normal people into the space to move this to the next level so if anybody asks Beyond 433 Beyond four three three seven this is it this is the exact what's coming beyond that and what's up for Luxo next we are

releasing the browse extension in August um and there will be the build up number two hackathon that you can participate and actually build cool stuff on Luxor or around Universal profiles come up with a cool protocol uh that you know utilizes profiles on the blockchain and and I'm very excited to see what will be built in the next few years using smartphone based accounts that are human usable thank you I'm not sure time for question no right

no questions don't ask questions [Music]