Presentation by Patrick McCorry
Some structured info about fundamental fund management solutions in bridges, exchanges, etc.
Several of the insights: how many funds were stolen from centralized systems, what were the reasons, and the history of the development of the trustless bridge solutions and rollups.
The incredible list of Bad Things: https://docs.google.com/spreadsheets/d/1ZEEAmXjpN8kL9BvITg9GKu-dbeUra6c14YLpLkCp5Zo
And I can’t skip this fantastic Plasma map!
What was interesting from the speech was how tight rollups and bridges are actually bound. They have very similar mechanisms under the hood, though they work for different purposes.
The presentation escalated quickly, and we started to talk about how sequencers work in rollups. There are several parties in a typical rollup:
- Users
- Sequencer
- Executor
Sequencer waits for the transactions from Users and collects them with some ordering. Executor then takes this ordered list of transactions, executes it, and computes an updated state for some off-chain DB. It creates a checkpoint, and the process starts all over again.
There are several security issues in this scheme, though. Different rollups are trying to find their solutions to them.
There’s also the Data Availability problem. It was discussed in the previous lessons.