Syre - dLab Emurgo Fellowship Project

#1

Hey there everyone,

It’s been a while since I’ve been active here on the forum, and between Clio.1, presenting the Rock Pi’s at the Summit, and being a dLab Emurgo fellow, you can imagine things have been busy.

Nonetheless, I am posting right now to announce the launch of my dLab Emurgo fellowship project, Syre.

When I became a fellow, dLab/Emurgo asked me to tackle the Transaction Surety problem. They realized that even after all of these years, the vast majority of people are still constantly worried about losing money every time a transaction is sent with crypto.

As such my project, Syre, is a solution to this issue which is tokenless, blockchain agnostic, and is reasonably easy to implement for any wallet developer. Syre minimizes risk to near 0, limits user input error severely, and provides a guarantee that the money you send will go to the address you expect.

The focus was to get this implemented in Cardano first, but with the Shelly update still upcoming it made sense to make the system work on every blockchain. Thus once Cardano is ready, Syre will be implemented into key wallets such as Yoroi and be usable by all ada holders.

If you are interested to learn more about Syre, please visit the website at Syre.io where you’ll be greeted with a whiteboard video, a whitepaper, an faq, and more to suffice your curiosity and to understand what new features and benefits you’ll be able to enjoy in the near future. If you have any questions, comments, or ideas, feel free to ask below.

syre-black

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Syre - Proyecto de camaradería dLab Emurgo
#2

Already working on the whitepaper, and thinking about how to implement it with a content platform I am a founding dev on.

If I get the gist of it correctly, I think it will be a perfect fit. In effect, you prepare an invoice according to a template setup that interlinks all the relevant information such that applications (wallets, etc.) need to present a valid transaction and link digital contracts such that the app can securely display what is about to happen and give the user confidence in what happens when they press go.

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#3

Congratulations Robert! Amazing work here!

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#4

How accurate is it to say that this is a blockchain version of “print preview” but for transactions? If not, can someone explain like I’m 5.

#5

What a simple and elegant solution. Nice work :grinning:

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#6

Great concept @bobert - love it.

Half of the video I was like “okay, this will generate a lot of spam in the wallet inbox” - but using the public key to encrypt the data is absolutely genius. :ok_hand::grin:

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#7

This is terrific Robert, now feeling proud to have met you! :smile:

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#8

Thanks for all the kind words @adatainment @RobJF @phil.lewis @Donnybaseball, much appreciated.

@Gerry Indeed, that is the general gist of how it works but to be precise it doesn’t use a digital contract (unless you consider a standard of checking a signature’s signing address a digital contract). Great to hear that it may be relevant to what you’re working on. Feel free to pm on here, email me, or ideally join the Syre telegram channel if you want to talk about how it might be integrated into your platform, and possibly consider potential Syre extensions which could be useful as well.

@xxrsee Your analogy is partly correct for Syre, but it doesn’t account for the whole picture. You get all the benefits of a “print preview” so to speak with both sides of the tx getting to check, but you also get a guarantee you are sending funds to a valid address thanks to the asymmetric cryptography blockchains use, while also changing the risk profile from 100% of the funds to a mere tx fee on-chain or $0 off-chain.

Furthermore with Syre extensions there will also be entirely new user experiences which have never been possible before. Let’s take buying tickets for the IOHK Summit via Adapay as an example. When registering you were given an address and a 20 or 30 minute payment window to send ada to it. This timer was ticking away on the webpage, but it had absolutely zero interaction with your wallet and so it was on you the payer to make sure you were on time. With the “Invoice Expiration Date” Syre extension, you can send that timer with the invoice itself which means that it will be integrated into the wallet. Thus the wallet can guarantee that the user sends the transaction in time, or that it will stop the user from being able to send the transaction if it’s already too late. This is just one example of possible extensions that completely change the UX and thus make serious improvements to the transaction process.

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#9

Nice stuff, as I read on I started to get that. I suspect it would be easy to link them, but that would tend to be application specific. Is the “secret” arbitrary? I was thinking that could be the content hash of a DAG the did represent the invoice. Or and encryption of any sort of reference off-chain or side chain.

Thanks.

#10

Thanks for clarifying. And after watching the video I have a good understanding of what it improves over the current way of making transactions. Amazed how lite your solution is. If I want to explain to non-technical friends why this is so important, especially to them when making transactions, what’s an accurate analogy?

Sending secret (encrypted) email friend invites the receiver can either accept or decline where no one can impersonate the sender (because it’s encrypted) while ensuring the invitation or the correspondence is sent to an actual email address and not a nonexistent one. Now change friend invites to blockchain transactions/invoices.

Would that be enough to convey what Syre does?

#11

@Gerry The secret can indeed be arbitrary, but it’s key role is to act as a sort of “authorization” so that the invoice receiver knows that it came from the correct party, and not an unknown bad actor. It can indeed be filled with different kinds of hashes, data, references, and so on forth, however the key characteristic it has is that it protects from foretelling attacks as long as it is a piece of data the payer can recognize. How you establish the data as identifiable is totally up to you, or if you are in a scenario where you believe there is no chance of foretelling attacks happening, then you are free to input whatever data you wish in the field and take advantage of it.

@xxrsee I think that’s a decent explanation in a blockchain-free context which conveys enough to get the core ideas across, though it’s hard to convey the severely reduced risk profile in such an example which abstracts away the idea of money/fees/value. Nonetheless I think it’s good enough for a quick explanation to get people to understand what is going on :+1:

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#12

@bobert Congratulations for your great work!! Cardano is amazing and community members are just awesome! Thanks a lot for your contribution!
Your document was just published in spanish.

Regards
Seba

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#13

Ah, that is quite the surprise to see my post translated into another language! Thank you very much Seba, and keep up with the good work yourself.

#14

You are welcome Rob!

Most of you are kind of genius for me, so it`s a pleasure and honor translating these things!

By the way, please note that Syre post says “Shelly” instead of “Shelley” :wink:

Keep in touch!

Rock Pi’s is awesome too !!

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#15

For anyone further interested, Emurgo just posted a blog post going into Syre, and there may just be even more content coming out soon as well :wink:
https://emurgo.io/#/en/blog/cardano-ada-fellow-solving-blockchain-transaction-surety-a-deep-dive-into-syre-faq

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