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Intelligent Cooperation: Private smart contracts #26

Open jdhodgkins opened 2 years ago

jdhodgkins commented 2 years ago

Bounties for Foresight Technical Groups

Each of these will run for 6 weeks, the objective is to stimulate conversation and get people thinking about interesting and relevant future science. Submissions will be in the form of project proposals for solving these issues, and several winners will be chosen for each category. A short overview on the problem, a description of a solution, and your plan to implement it are required in the submission.

Private smart contracts

Most useful applications, such as Uniswap, depend on the ability to concurrently update shared state. The public nature of these updates opens users up to MEV and frontrunning attacks. However, making the application private would require either sharding the shared state and/or some kind of flow encryption protocol. Can we make a general framework to reason about sharding a shared state, or prove that it cannot be done for an application?

Submit your bounty-response below for your chance to be rewarded 0.15 ETH.

gitcoinbot commented 2 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

This issue now has a funding of 0.15 ETH (458.7 USD @ $3057.98/ETH) attached to it as part of the https://github.com/foresight-org fund.

gitcoinbot commented 2 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work has been started.

These users each claimed they can complete the work by 6 days, 21 hours from now. Please review their action plans below:

1) adelana001 has started work.

With enough research from me I will love to do this 2) darom1998 has started work.

I'am going to build test script where i will insert some conditions to verify to make this contract more robust in terms of privacy. 3) mitc-mcla has started work.

Let's go, i have many token private.. 4) ify01 has started work.

i will give my best project proposal on this issue. 5) okeaguugochukwu has started work.

I will work on this bounty, and I will a precise answer.

Learn more on the Gitcoin Issue Details page.

gitcoinbot commented 2 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 0.15 ETH (417.45 USD @ $2782.97/ETH) has been submitted by:

  1. @mitc-mcla
  2. @mrstepz
  3. @darom1998

@jdhodgkins please take a look at the submitted work:

toledoroy commented 2 years ago

Hmm, let me see if I can offer some added background regarding the MEV issue. Well, problem main with this type of exploit is that it's carried out by the miner, which is the same entity in charge of running your transactions. It is a sub-type of the agency problem, which is simply a good ole' conflict of interest.

In a nut shell, since you need the miners to run your transaction, they have to be able to read it. Even if someone could (or had) come up with some kind of a mechanism that would allow machines to run encrypted code without reading it. The miner would still be able to see its effects on the global state and change it's behavior accordingly.

The only way to prevent this kind of issue is to remove the agent from the architecture. That would be an architecture that has only one type of user which is both the client and the miner – allowing every machine on the network to mine their own transactions. Like IOTA or Holochain. For that reason these types of decentralized databases, which aren't ledgers anymore, are referred to as web 4

gitcoinbot commented 2 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

The funding of 0.15 ETH (270.05 USD @ $1805.51/ETH) attached to this issue has been cancelled by the bounty submitter