Accounting Models & User Abstractions in Blockchains


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--- title: Accounting Models & User Abstractions in Blockchains ---

Accounting Models & User Abstractions in Blockchains

Overview

  • Cryptography, Signatures, Hash functions, Hash based Data Structures
  • Economics/Game Theory
  • Blockchain structure

Where do we go from here?

  • We have some base elements, ideas, and concepts
  • Now, let's put them together into something cool..

What are we talking about?

  • Now that we have this structured decentralized tamper proof state machine..
  • Let's think of ways we can formulate a state and a state transition in terms of representing users

State User Model

State User Model

How to represent Joshy and Andrew?

User Representation

How to send from Joshy to Andrew? What do you need?

Notes:

What would be catastrophic if we got wrong??

What if we want to spend this?

Notes:

Why do we say spend here and not modify?

Input

Transaction

Notes:

Why do we not send all of the 70 to Andrew?

How to verify this state change is valid?

  • We can actually spend this thing signature verification!
  • Sum of the inputs is >= sum of the outputs
  • No coins are worth 0
  • Has this already been spent before?

Notes:

Which did I forget??

Our new state

How do we generalize beyond money?

How do we generalize beyond money?

Notes:

How are we going to verify now that the state transition is valid?

Transaction

Transaction

Is this a good model? Why or why not? Let's discuss

  • Scalability
  • Privacy
  • General Computation

Is there a different way?

Notes:

Now ease them to the solution of Accounts

Accounts

Notes:

Now ease them to the solution of Accounts

State Transition Accounts

State Transition Accounts

How do we verify and handle this transaction?

  • Verify enough funds are in Joshy's account
  • Verify this amount + Andrews amount don't exceed the max value
  • Check the nonce of the transaction
  • Do the actual computation of output values

Notes:

Did I forget any?

State Transition Accounts

What did we do differently in Accounts vs UTXO model?

Notes:" />

Verify as opposed to determining the outcome. Not submitting output state in transaction

Account Arbitrary Data

Is this a good model? Why or why not? Lets Discuss

  • Scalability
  • Privacy
  • General Computation

Notes:

Parallelization? Storage space, privacy solutions?

Small shill... Tuxedo 👔

https://github.com/Off-Narrative-Labs/Tuxedo

Questions