zk-DEX

Transcript

my name is Kevin and I'm from the South Korea and I'm also known as iam some pillow super in the South Korea community it's not about some technology right it's about some philosophy okay anyway we better start up the presentation I would like to say thank you for my devotion of my teams and they gave us very good intuitions about these ideas and developments of it and etherium is very awesome and great projects and you can bring many types of decentralized applications on it but there is am some limits on a privacy anybody can see the transaction who sends the money to whom and anybody can

checks out to some anybody can code whether somebody call the specific smart contracts or not so and there are many lists such as to overcome these types of situations and Dicky dies very great projects and matching news in mob use and jet either as their subtypes are like that but these projects are just mainly focusing on just transferring the simpler tokens so that we like to develop these ideas from simple transport oaken's to the decentralized exchanges then it's going to become a awesome right right some beeper the starts of the people the start of the GK

DX we need to understand how the text works this is the first steps the MakerBot makes an order with the service tokens and target organ and price and amounts it means Bob wants to sell is adored I wants to sell his either to buy a tie right with the price at 10 the second step is some text on orders the alleys the takers can find out the orders and she takes this order with the source token tiger token and a price and amount the source token target token a different tenor

make them making other right and then app if these two orders are matches each others then these orders can do we need to overcome to build am some decentralize privately centralized exchanges and these are the concept that that can be used to overcome that these two problems the smart nodes and being key and a settlement with the general logic probe in order to understand how how that how that UK decks work you guys need to know the background information background knowledge is Alberta Jackie died and decayed I started to him some

1.5 years ago maybe at the Singapore hackathon and in this project all the diced need to be converted into so-called a secret note and this notice consists of PK consists of PK and Barrios and PK are the public key of the not owners and Barry used of the barrier student note Barry stop to die in it and these notes are stores in this motor storage in a blockchain as hashes and encrypted so the only the owners of the notes can knows the exact amounts of it and in order to spend this note and the owners of the node need to submit a proof that he has a secret key that

correspond to the public key of this note and he need to know the exact pair used to denote right and in cheek edicts in our project we added some pure bear proof so net and the PKS and barriers are saying to the previous one and the tab is the token types of updates notes and PK is the being here of the Sanders and so it is just a random number and it smart is the plaque that shows whether this note is smart or not and we are we are turn the smart note we turn the secret note into him some smart notes

and I'm going to explain it as a smart flex more the pk's don't know - and and if the is smart is smart is true then this note becomes am some smart note the difference between secret notes and just just securing note and smart secret note is that the note owner can be the owners I mean it's little bit complicated but only the account can be the owner of the in secret notes but in in our smart not a note owners can be the owner how can I begin it now for example like I'm in a smart contracts for example in some

years - any tokens on token owners can only not only be their boss about some external account but also be the smart control can write we're in inverse act models and to spend the smart note you need am some GKP of the secret key that correspond to the public key of the policy I mean the owners of the notes and it's a pro but some that that owner of the note write write some second one is the exact pair use of the notes and it's an exact values of the public key I mean the know - and the other day or not we care sort of like that one good features we can get from this smart note

is that you can send our smart not to somebody we've done knowing their exact address right because note owners can be no nuts you can send your note not to anybody - to any somebody stop right okay by using this concept we can define these types of we can define these data structures of owners it consists of seven fears a maker being from maker being key to the parent not and we are explaining in detail maker being key is the being of the maker so that only maker can can can see the contents of disorders and maker note

is the note that is going to be traded with meet me to take and search token target - compressor is is already I explained it and take Renata to make her stand note that it's kind of going to be swapped with the maker node right and parents not ok so parent not top the taker not to make her a thank-you note to me and it's going to be explaining it later product his presentation all right let's start with the making others a maker the Bob makes the order veto maker binky make her note serves token and 30 token and a price

and except for the price these informations are hidden behind the general knowledge probe competitions so that nobody knows exactly barriers of these except for the price and in this order solicited on the market and Alice can finds disorders and he sends they cannot to makers it's not that she wanted to trade video makers not and the information about them parent not the important part in this in this step is to take an order to maker is the makers note because the picker note to maker is

just a smart note and I already mentioned smart not don't dis owners can be the note right so when Alice takes taking when Alice takes ten orders to take an order to make curves the PK of the technology to maker is the makers note and take related to maker is encrypted with the makers pinkie that the makers already submitted and take a beauties included in the technology makers so so this so this disorders can be settled later the last step Sara must have is little

bit complicated will it consists of of several logics first maker decrypt so take Renata to maker with the makers pinky so that maker can checks out market maker can can knows the exact values of disorders and there are two possible cases about some amount of it if Alice amount at least wanted to trade with the Bob's amounts it is less than Bob's then then then there is there going to be get this to him some changes right and if the Alice amount is less than a box changes goes to Bob's if at least is amount is greater than a past the changes goes to Alice right

these are the two logics described here okay and this slide shows in different ways of making trade this is the Bob's and this is Alice and they have their own notes if in in this case Bob has to die and Alistair has the ether and Bob wants to sell his die in in orders and this this this note becomes M some makers not right and Alice wants to sell his either not and it's going to become assert a cannot eat maker they I already

defined earlier of these presentations and the taker noted two makers owner is makers note so in this case Alice doesn't have to know the address of the Bob's right Elise just just need to know the hash of the makers notes and hackers and nobody knows two makers nobody knows who are the owners of the makers node so it's become in some private right there are two possible cases about some changes and this this is some some it's the changes goes to in this case the changes goes to pop in this case changes goes to the Alice

right okay this is different way of explaining this part Bob wants to sell his one either to buy a die at the price of 10 it's a little bit cheaper and the Alice takes the orders with his mideast I to buy either but he just he just wanted to say the five died right so this makernote Endocrinology two makers are on the market and the changes costs the Pops and based on based on the informations of the parent notes the

maker notes are belongs to the new note takers it's about some parent not then else can claim this note and the owner of the dist note can be then Alice the important things in nobody important things and important features of this protocol is that nobody knows who are the makers and takers of the owners because of the because it is they're smart not and the second important features is that how much did they trade each other's no but nobody knows nobody knows - how much do they trade each other's because these notes are based on a sacred notes that developed by the GTI

but there is am some user experience problem because in this system only several orders can be done by ad the maker that's why we introduced a broker concept but but there is an am some trade-off between the privacy and convenience e so in this case the maker blinky can be the brokers pinkie so the brokers can exchange these two notes all right this is the maybe the last part there's a there's a limitations in public blockchain it's not becoming

Samhita 2.0 right and the single general computation consumes more than a 7 million gases it consumes more than 80 percent of single blocks in a block chains so and after the isnumber hotbox it lead uses maybe half maybe 30% of it but it's still large and still huge in order to guarantee the privacy or lots of lots of transactions need to be submitted to date and block chains so it's currently this is not practical yet so that's the reason why we need the

second layer solutions more scalable and he still decentralized and it's stirring still turing-complete right all the logics are written in these papers bit ly /gk Dax and you can check out the logic so how this works and you're not only it's not about some concept we just implemented including the front-end part of it and the system additional information about our projects demo videos and papers and get up thank you when it will be in production on maintenance when it's

going to be product when it's going to be deployed on an inner Manor right there is a limits on a term gas block as limits in the system so I think it's possible to deploy on mainland right now but it's not practical yet so we need some more scale of a second layer solution to cover these protocols and there's a reason why our team breathing in some second layer solutions for interim the toca network is is that right so any questions nope okay thank you

[Applause] you