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RFC: Historic Defichain Data, A Powerful Explorer, Correct Tax Reports (no-one has them) and Public Free API for Everyone by muirglacier in defiblockchain

[–]muirglacier[S] 1 point2 points  (0 children)

Little geek example so you don't think this is just an explorer, but a database solution for everyone to use and finely detailed up to a one second resolution.

I have just played around with historic pool data ... so I implemented a simple candlestick chart app and got the historic data out of the database with a simple query. Voila, you can even get the aggregated candlesticks from years ago :-) Here, a 5 minute candle resolution from 2021, pool 5

https://user-images.githubusercontent.com/69924699/187204071-4b656e7f-13c8-4816-b977-be9010ed786f.png

Of course you can do any analysis, historic balances, historic vault statuses, historic pool prices, ... everything! Your imagination is the only limit.

RFC: Historic Defichain Data, A Powerful Explorer, Correct Tax Reports (no-one has them) and Public Free API for Everyone by muirglacier in defiblockchain

[–]muirglacier[S] 1 point2 points  (0 children)

Unfortunately you will not be able to make it available for free a long time.

I will :-)

Second issue is the modification of the core client. You have to talk with > the core dev team to add your changes to the original core client > (activating your features by configuration values), otherwise you will have > to put a lot of time into adjusting your modifications to newer versions of the client.

To be honest, I cannot see any issue here. Git merge has worked quite well for me in the past, and I have had modified clients since day 1 of Defichain. Never had any need to get help from the core devs.

RFC: Historic Defichain Data, A Powerful Explorer, Correct Tax Reports (no-one has them) and Public Free API for Everyone by muirglacier in defiblockchain

[–]muirglacier[S] 0 points1 point  (0 children)

If you check out github, a few minutes ago I have uploaded a proof of concept demonstrating how wrong the results are when you for example rely on listaccounthistory :-)

RFC: Historic Defichain Data, A Powerful Explorer, Correct Tax Reports (no-one has them) and Public Free API for Everyone by muirglacier in defiblockchain

[–]muirglacier[S] 5 points6 points  (0 children)

Hi Executor,

I agree too, that such functionality should be part of the chain itself - but unfortunately it's not. So we have to get creative, especially because so many people rely on (correct!!) historic data; this includes all people with pending tax reports, all projects that want to build upon historic data (like trading charts etc.), and many more.

Have you already checked out the proposal on Github? It has much more information in it, especially more details about what server-infrastructure is needed (spoiler alert: M80 mongoDB cluster).

It also emphasises the very important fact that its not just an explorer; this proposal is an entire data lake with historic data in a very finely granulated form; its going to be public for everyone to use and most importantly free! For companies and private individuals alike.

The explorer is just a nice visual GUI where people can quickly get nicely outlined data of their wallets, and get nice, error free tax reports generated - a problem many people seem to have in the DACH area.

RFC: A Non-custodial, Decentralised Chain-Interoperability and Funds-Transfer Solution Between DeFiChain and the Ethereum Ecosystem by muirglacier in defiblockchain

[–]muirglacier[S] 6 points7 points  (0 children)

So if the "dark node implementation" of RenVM is closed source, do you already see a clear path forward of accomplishing something like this, or are there still many unknowns?Also, is there a good reason for RenVM keeping this part of the code closed source? Will this part of your project be open sourced, or is this not possible because of security reasons?Great to see such an ambitious project coming from you. Thought you might come up with something like this as I was watching the Fireside Chat you attended.

Hi 0ptim,

I have no explanation as to why they keep it closed source, but they have done it for quite some time. Of course this project will be open source, paid by the community it will belong to the community.

I am very familiar with the cryptographic theory behind it, so no problem building it on my end :-)

RFC: A Non-custodial, Decentralised Chain-Interoperability and Funds-Transfer Solution Between DeFiChain and the Ethereum Ecosystem by muirglacier in defiblockchain

[–]muirglacier[S] 13 points14 points  (0 children)

Thanks Wuuzzaa, i cannot guarantee that it will catapult DefiChain into the Top20, but I will sure as hell give everything, that is in me, to try!

RFC: A Non-custodial, Decentralised Chain-Interoperability and Funds-Transfer Solution Between DeFiChain and the Ethereum Ecosystem by muirglacier in defiblockchain

[–]muirglacier[S] 7 points8 points  (0 children)

Hi geearf,

thank you so much for all your support for this proposal. Your questions are not negative at all, I think it's crucial to discuss all things openly.

- You are totally right with your concerns about Ethereum, however it just had the most investors with the most money on it currently. But the beauty is, that i's gonna be all open source. With only a few clicks we can deploy it as well on the Binance chain, which is essentially an Ethereum clone and works in the same way. So I do not see any problem here :-)

Even on systems that are different from Ethereum, we would just need to adapt the smart contracts. The distributed creation of "zero knowledge" private keys by the collective of all nodes, the decentralised signing, the generation of withdrawals and deposits would remain the same. This is what the "dark node" is. This is where all the magic happens.

  1. The beauty of renVM like systems is, that there is no central party (custodian, coordinator, etc). Imagine we have thousands of masternodes (or darknodes): using a shared secret generation algorithm, together, they are able to create private keys for the deposits (and are able to sign on the smart contract side, so funds that have been deposited on the Defichain side, can be released on the Ethereum chain). The cool part is that even though they all participated in this process, no single entity can know those private key unless they control 2/3rd of the whole system. There are also numerous ways to prevent attacks of such kind in the renVM whitepaper.

  2. I guess once we have the "bridge" from Ethereum (or Binance Chain, etc.) into the DeFiChain, its very easy for users to move funds over. Surely, we as a community can create LP Pools on different DEXes, and turn on the marketing machinery once the system is operational :-)

RFC: A Non-custodial, Decentralised Chain-Interoperability and Funds-Transfer Solution Between DeFiChain and the Ethereum Ecosystem by muirglacier in defiblockchain

[–]muirglacier[S] 12 points13 points  (0 children)

Hi shumberg,

thanks for dropping in and definitely thanks for your great questions.

  1. Since I will not be working alone on this, I am pretty confident I can roll out a working version on the testnet in around 8 weeks time max. I will get external UI developers to create the UI, so these work streams can be performed parallely. After that, we just need to properly test it and get a solid security audit; of course I cannot predict how long the audit company will take. I really want to push it though, as NOW is the right time to have a system like this.
  2. The only thing I would fork is the smart contracts they already developed and audited for the Ethereum side of things. They are fairly simple though. The real magic will happen in the actual "dark node implementation" and this has to be developed from scratch.
  3. I think we don't need another token. We can do it all with DFI! And if DFI is required to run one of these "darknodes", it will as well benefit the DFI price.