Perun: Virtual Payment and State Channel Networks (Devcon4)

Wed, Oct 2, 2019, 12:00 AM

Visit the https://archive.devcon.org/ to gain access to the entire library of Devcon talks with the ease of filtering, playlists, personalized suggestions, decentralized access on IPFS and more. https://archive.devcon.org/archive/watch/4/perun-virtual-payment-and-state-channel-networks In this talk, we will present the Perun Network: a general framework of 2nd layer protocols supporting off-chain payments and arbitrary smart contract off-chain execution. Perun allows its users to execute contracts off-chain via complex state channel networks possibly involving many intermediaries over which contract execution can be routed.   One distinctive feature of Perun is that its channels can be virtual, meaning that once a virtual channel is established transactions can be executed even without involvement of the intermediaries. This enables nearly real-time transaction execution with minimal latency at negligible costs. Moreover, privacy of transactions is significantly improved. An additional property of Perun is that its security is backed up by formal proofs using state-of-the-art scientific methods from cryptographic research. Besides presenting the main conceptual ideas of our system, we will outline some of the the major scientific challenges that need to be addressed when designing secure and efficient 2nd layer protocols. Further information available at https://perun.network/ Speaker(s): Sebastian Faust, Stefan Dziembowski, Lisa Eckey, Kristina Hostakova Skill level: Intermediate Track: Scalability Keywords: payment, state channels, L2, layer 2, Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum Learn more about devcon: https://www.devcon.org/ Learn more about ethereum: https://ethereum.org/ Devcon is the Ethereum conference for developers, researchers, thinkers, and makers. Devcon 4 was held in Prague, Czech Republic on Oct 30 - Nov 2, 2018. Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/