Transparence

Transparence, is a collection of tools, to improve transparency in cryptocurrencies. We want to make it easier for users interacting with different protocols to extract data from the chain that gives them guarantees that everything is fine.

Demo Video Source Code

Prizes

Keep Network runner up

Technologies

Ethereum

Bitcoin

Description

Transparence, is a collection of tools, to improve transparency in cryptocurrencies. We want to make it easier for users interacting with different protocols to extract data from the chain that gives them guarantees that everything is fine. Specially with the trends from DeFi and Yield farming, users are taking more risks without properly assessing the assumptions and trade-off. For example, using protocols like Compound, users will add leverage to their positions without considering if they could unwind their positions if we had to get through black Thursday again. Another example is projects like Keep who want to bring Bitcoin on Ethereum. It is important for users to verify that they are backed 1:1. The only way to have this insurance is to verify on both chains that the data are consistent. So I started this project with the goal to enable users with full nodes on both blockchains, Bitcoin and Ethereum, to interact with the clients and retrieve data to asses the 1:1 correspondence.

How It's Made

The project use mainly Go libraries to interact with Bitcoin full node. First I had to sync from scratch the Bitcoin blockchain and the Ethereum Blockchain. Then I had to understand how to interact with both blockchains from the RPC. I decide to concentrate on the Bitcoin part for lack of time so there is only the functions for that part now. The bulk of the development was to spent understanding which data was interesting and how to practically retrieve from the Bitcoin blockchain. My goal in the long run is oto get to interact with my Ethereum node and get the data from the smart contracts.

Team

Jean Yves ZIE
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