Makerdao (DAI) with Nik Kunkel

0:00 Welcome
2:02 Thinking about the Oracle Problem
8:47 Saving 15x Gas for Data Providers
22:15 Security risks of composability
25:10 Yield Aggregators
30:27 on Security Audits
33:30 on Formal Verification
38:46 Role Based Security
47:16 Identity and Blockchain

On Oracles, trust vs cost: lack of trust is expensive
What are Oracles? It’s this mechanism for getting data from off of the blockchain onto the blockchain. And, you know, predominantly, those Oracle’s are used for prices of things. And most of DeFi right now, right is utilizing credit to some extent, right. So you need to know the prices of things to know how much you should let someone borrow. You know, you need to know the prices of things to know when you need to liquidate right up position. So Oracle is a really critical infrastructure to the functioning of DeFi. And so I think he kind of touched on on one of the issues, which is, how do you, as a user, I trust the data that the Oracle is showing. So that’s one of the big problems. I think the other problem is cost. Right. So how expensive is it to to run an Oracle? And I think you’ll find that frequently, you end up having to make a trade off there. Right, in terms of the security of the Oracle versus the price?

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Author: miko