t3rn's Presentation at Polkadot Decoded

Dear t3rn community,

Welcome to the June edition of Multichain Matters, our monthly newsletter where we provide updates on our latest advancements and offer insights into the behind-the-scenes of the t3rn protocol.

Summary 📑

• 👥 Team t3rn attended Polkadot Decoded 2023, presenting Trustless Oracle Solution for the Polkadot Ecosystem with t3rn.

• 📝 We also published two new blog posts: "Understanding Attestations: Building Consensus in Blockchain Networks" and "Introducing Snorkel: Trustless Access to Cross-Chain States with t3rn." These posts dive into important topics related to consensus and cross-chain state access.

• 🗳️ Securing Our Future: Cast Your Vote for the Ethereum 2 Light Client Audit Proposal

Read time: 3 minutes

Polkadot Decoded 2023: Solving the Trustless Oracle Problem for Polkadot Ecosystem

Towards the end of June, our t3rn team had the privilege of participating in the Polkadot Decoded 2023 event in Copenhagen. Jacob, our Chief Strategy Officer, Thomas, our Head of Marketing, and I proudly represented our team.

We were there to showcase our ongoing projects. Moreover, I had the esteemed opportunity to take center stage and present my talk on "Solving the Trustless Oracle Problem for the Polkadot Ecosystem with t3rn."

It was a great chance to outline the hurdles that oracles are up against and to explain how t3rn is leveraging Eth2 light client data. Our goal? To bring trustless oracles into the Polkadot ecosystem, enhancing its functionality and security. It was a fruitful exchange, and we're excited about the progress we're making and the partnerships we're building.

I invite you to watch the full presentation here:

New Blog Posts: Understanding Attestations and Introducing Snorkel

We recently published two new blog posts as part of our commitment to sharing knowledge and insights.

Understanding Attestations

Building Consensus in Blockchain Networks Attestations play a crucial role in establishing consensus among validators in blockchain networks. In this blog post, we delve into the significance of attestations as votes, enabling validators to express their view of the chain's most recent justified block and the first block in the current epoch. Gain a deeper understanding of how attestations contribute to consensus-building in blockchain networks.

I'm eager to hear your thoughts on this topic, so please check out the blog post and share your insights.

Introducing Snorkel: Trustless Access to Cross-Chain States with t3rn 

During my presentation in Polkadot Decoded, we unveiled Snorkel, a proof-of-concept application that demonstrates the potential of trustless cross-chain state access. Powered by straightforward Solidity smart contracts and leveraging the capabilities of the Eth2 Light Client, Snorkel eliminates the need for off-chain price oracle components. It sources all data from decentralized exchange (DEX) prices, representing a significant leap forward in our pursuit of blockchain advancement and interoperability. Learn more about Snorkel and its implications in our blog post.

Securing Our Future: Cast Your Vote for the Ethereum 2 Light Client Audit Proposal

We would largely appreciate your support in casting a vote for our proposal regarding the audit of our Ethereum 2 light client, available here: https://polkadot.polkassembly.io/referenda/67.

Why is the audit critical? It's all about secure access to cross-chain price feeds via Snorkel. This process is underpinned by t3rn's Substrate pallet which enables Ethereum Light Client access via the Portal interface. Each and every block header accepted by the pallet has been verified and signed, leveraging the aggregated BLS scheme, by Ethereum's Sync Committee. Hence, the security of this system depends entirely on the correctness of the Ethereum light client implementation.

An audit and its subsequent approval are significant steps towards enhancing security before we roll out the product later this fall. The successful passage of this proposal would certainly be of immense help.

It's important to know that every vote carries weight, and you even have the option to select a weight multiplier depending on how long you're willing to lock your DOT tokens. For further clarity, there's a handy table breakdown available here - https://wiki.polkadot.network/docs/learn-governance

Thank you in advance for your support. Let's join forces to turn the voting bar green!

Share your thoughts on Twitter @Maciej_Baj shall you have a taste for the topics to cover in the next editions of the Multichain Matters newsletter!

Maciej Baj, Founder and CTO of t3rn