Architecture at @trylimitless Research at @Ranger_Global
Joined November 2013
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We won at @ETHGlobal Mumbai Hackathon.
We built Quantum Smart Wallet: a post-quantum Ethereum wallet using SLH-DSA signatures, native account abstraction, onchain verification.
The future is quantum-safe.
🇮🇳 ETHGlobal Mumbai Finalist | 🔐 Quantum Smart Wallet
A post-quantum Ethereum smart wallet with client-side signing, sponsored swaps and ENS names.
Built by @nickbailo, @andrENsobol
🔗 quantum-smart-wallet.vercel.…
🏆 ethglobal.com/showcase/quant…
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By convention, the first transaction in a block is a special transaction that starts a new coin owned
by the creator of the block.
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If two nodes broadcast different versions of the next block simultaneously, some nodes may receive one or the other first. In that case, they work on the first one they received, but save the other branch in case it becomes longer.
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For our timestamp network, we implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block's hash the required zero bits.
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The timestamp proves that the data must have existed at the time, obviously, in order to get into the hash. Each timestamp includes the previous timestamp in its hash, forming a chain, with each additional timestamp reinforcing the ones before it.
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For our purposes, the earliest transaction is the one that counts, so we don't care about later attempts to double-spend. The only way to confirm the absence of a transaction is to be aware of all transactions.
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While the system works well enough for
most transactions, it still suffers from the inherent weaknesses of the trust based model.
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Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
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Nick Bailo retweeted
Funny to see that this prediction markets project just stole our research without any attribution.
Word for word almost.
Anyway, if you want to see the original research, follow @Ranger_Global . We publish high-quality research on Prediction Markets. Like and share for support
Nick Bailo retweeted
THE TRUTH ABOUT PREDICTION MARKETS VOLUME
> each individual share represents a $1 claim conditional on the event outcome
> notional volume counts the total number of $1 contract claims in the system
> the system is fully collateralized
> this is not a gotcha
> nobody wants to talk about the fact that perp notional often exceeds margin posted by 10-100x (this is also not a gotcha, just a function of the underlying market structure)
> prediction markets notional is an accurate reflection of the $1 claims existing in the system and an order of magnitude more accurate indicator of the total capital at risk than perp notional
Nick Bailo retweeted
Blackhat front-running a proxy initialization, giving himself admin rights and then making sure the protocol behaves exactly as expected, remaining unnoticed
Then waiting ~3 full months to strike
One of the worst way to go down
Nick Bailo retweeted
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And big thanks to @nickbailo, speaking from the @trylimitless side, for an incredibly clear breakdown of prediction markets - liquidity and programmable outcomes.
