Making Blockchains more useful for Mainstream Adoption

Transcript

[Music] thank you hi thanks for attending my name is Hugo Fillion I'm co-founder of flair I'd like to introduce you to the Flair Network our thesis is that product innovation in blockchain has been held back by outmoded and expensive Oracle systems that limit what data can be bought on chain I'm going to present our solution to that at Flair blockchains are self-contained systems they've not traditionally been designed

to interact with external systems Bitcoin is a good example of that Beyond its usage as a store of value there isn't much by design that developers can engage with however much of the utility in the space comes from the Nexus of decentralized computation with external data this is unlikely to change today's Oracle systems suffer from meaningful drawbacks they are hard to decentralize expensive to use and difficult to scale in the last couple of years there's been limited new development around decentralized data acquisition methods at Flair we're focusing on building a smart contract platform optimized for data acquisition where the data infrastructure of the network is engaged in data provision

our mission is to enable applications to utilize the broadest range of data provided in a decentralized manner at scale but most importantly at minimal cost we term this data provision as a public good Flair's aim is to give developers a platform on which to build with the broadest amount of data possible delivered cheaply and securely and with trustless access to deep sources of liquidity and users from across the largest blockchains so to summarize what Flair is it's an L1 evm base chain flares validators of the principal data providers there are three data provision categories

time series data prices and indices blockchain State data and data from web 2. Flair labs are then building two types of trustless bridge one for non-smart contract tokens like Bitcoin Doge Litecoin xrp and one for tokens from Smart contract Networks and you may think why is this interesting to the ethereum community well flare is designed as an L1 specifically it has to be an L1 because of the way the data acquisition protocols work but with our trustless bridges it's essentially a sort of middleware or a utility layer for all blockchains so on to our native acquisition data

acquisition protocols we ask ourselves two questions if a system is is a system decentralized if it relies heavily on Central on a centralized component this is really where we find defy today with its Reliance on centralized oracles and then secondly what can be built if the cost of acquiring data on chain is dramatically reduced Flair has two native decentralized data acquisition protocols that provide data from three sources the flare time series Oracle for time series data prices and indices the ftso uses batch updates instead of individual price feeds this reduces gas utilization of the system relative to an

oracle with the same number of individual feeds and the ftso has a scaling plan to achieve a thousand series with one to two block update times the state connector for blockchain data and a separate setting of the state connector for web 2 Data called a web connector a state connector rolls up off chain proofs for web 2 API and blockchain state data allowing a massive amount of data to be proven on chain in a single update collectively the aim of these protocols is to be able to provide in a secure and decentralized manner at minimal cost per user as much open source data as can be as is required these protocols can then have payment modules on top for when

data needs to be acquired from a paywall source the protocols are built into the infrastructure provision role I.E the Network's validators are the data providers for the protocol on to our sort of bridges from Flair Labs so trusted Bridges you know multi-sig NPC and to some extent layer zero are clearly risky for the user and we think very clearly operating outside of most applicable regulations we're building two trustless British protocols to allow developers both on flare and elsewhere to access value and users across the whole Space layer cake is a trustless low latency Bridge solution that allows users to

bridge value with attached cool data this means that users can execute a transaction directly on a destination chain from their Source chain layer cake has no multi-sig no valid data set no governance bridging with layer cake has Insurance whilst the funds are moved across chain and against chain rollback over at least six hours whilst plausibly falling into the optimistic class of bridges we think it's sufficiently different from what has gone before that we're actually calling it the first pessimistic Bridge our plans out to roll layer cake out across many chains not just Flair the F assets are our solution as to how to get non-smart Contract tokens such as Bitcoin Litecoin Doge and xrp to be

represented on a smart contract chain without a centralized third party if assets are formerly a delta neutral synthetic with multi-collateral backing the fs can be generated on flare but can be bridged out through to any other ecosystem through layer cake so let's look at some of the use cases that we think Flair improves by providing data at scale and at lower cost so obviously Bridging the fs protocol relies on our data protocols it opens up the use of non-smart contract tokens on flare through decentralized bridging based on flares data protocols a relay system where the relay nodes can be staked on flare and slashed Vibe State connector proofs

which would enable safer Communications between an arbitrary set of chains new and useful D5 products can be built leveraging new data and or data that is currently too expensive to access via traditional oracles the gaming economy and reward system can be expanded and innovated upon by harnessing Flair's ability to cheaply prove large amounts of web 2 API data smart contracts on flare can be triggered by events external to the chain and this creates new forms of cross-chain or cross-domain so between web 2 and web 3 economic models that can be developed dowels can be built that react to events automatically reduce the reducing the response time to or to organizing a vote

and you know as identity as the industry becomes more compliant a wide array of data points can be attested onto flare to generate a comprehensive profile of an individuals or an entity so those are use cases that uh Flair we think can improve what sort of kind of new use case that we think Flair kind of gives opens the door to so the data protocols on flare enable we think new forms of utility the one example is ml the ml crypto pivot meme doesn't need to exist blockchains can serve utility to the machine learning industry the blockchain can address three

fundamental issues facing the ml industry that is acquiring good verifiable data which is currently expensive and difficult to do training a model is highly resource intensive and it's difficult to demonstrate the parameters and the error rates lastly there's no straightforward way to access and pay for the use of pre-trained models Flair can enable a data marketplace where anyone can sell data that are verified through the web connector a model training marketplace where someone with data can pay for the training of that data and the outcome of training can be verified on chain and then lastly a Marketplace for pre-trained models where users that want query a model I.E get an output for a given input can access the model and pay for it via

Flair Flair's competitive advantages in this area are that it already has a network of data providers that have a skill in applying complex data processing techniques to create data feeds this is what flares time series Oracle is doing the network of data providers have access to compute capacity and a track record of harnessing game theoretic incentives around data provision the network itself has low-cost decentralized solutions to bringing the necessary verification proofs on chain so in summary We Believe developers need access to data on chain to build many of the products that will bring further utility to our space that data needs to be delivered in a decentralized manner inexpensively and

at scale Flair we believe is the only smart contract platform specifically focused on doing this we believe that as much data as possible should be acquirable on chain as a public good if you're interested in flow you can go to one of our two websites flair.network or flairlabs.org thank you [Applause] any questions take that as read then [Music]