2025-06-13 –, Main Stage - Cinema 10
In this talk, we talk about a novel mechanism we call the Credible Layer, which is designed as an overlay mechanism that enables a Blockchain network (L2 or L1) to enable contract-based soft forking. Developers can associate EVM bytecode with contract addresses which adds additional transaction rules to transactions that interact with these contracts. We will explore how such a mechanism effectively upgrades the STF of the network, and how it can either be enshrined to the underlying network or enforced by network validators, without making the underlying protocol aware of it. We will also explore the overarching theme of introducing user-space protocol upgrades (e.g Lido, EigenLayer, Credible Layer), ahead of enshrining such schemes onto the base layer.
The Credible Layer was designed as a way to introduce invariant checking at the base layer, enabling dapps to express security constraints they wouldn't otherwise be able, in an effort to curb the proliferation of hacks in our space. It is designed as a neutral "overlay" mechanism that is enforced by block builders and can function without requiring the underlying base layer be aware of it. We will talk about one can effectively interact with the state transition function and fork-choice rule, without requiring protocol changes, if there is enough network nodes participation. Finally, we will see how such an approach is quite common for introducing new protocol concepts to the market, testing traction before making such a mechanism part of the base layer protocol.
Odysseas first encountered blockchains back in 2016, while still studying for his Diploma in Electrical Engineering in the University of Patras, Greece. At the time, his research interests lay in the area of IoT and smart sensors, so he authored a few papers on how IOTA ( a DLT for IoT at the time) could be used in agriculture IoT to tap into the market of sensor data. Afterwards, he worked in the area of IoT DevOps and Infrastructure Monitoring, as product and later DevRel, in startups that are considered innovators in their areas. After reading The Sovereign Individual in late 2021, he concluded that his passion was blockchains, a piece of technology with deep political and societal externalities. After spending a sabbatical deep in protocol research, he started working in Nomad as one of the three protocol engineers, and then the hack happened. The Nomad hack was a deeply formative experience, as he saw first hand what it means to be in a war room, mitigate the hacker’s attack, and talk with affected users. Due to his DevOps and Protocol background, he was able to see what was missing from the Security space, and a while after he left to start working on Phylax, which after a few months of coding and research, managed to fundraise for. His drive for security is his fundamental belief that security is one of the biggest challenges that our industry faces. The proliferation of hacks is one of the core attributes that is blocking the space from reaching escape velocity in terms of adoptions, as also serves as never-ending ammunition for regulators in their effort for a crackdown. He is building Phylax cause he wants to solve security in crypto, and he wants to solve security so that crypto can win. And if crypto wins, then everyone, institutions and everyday people alike, can deploy capital with confidence, creating a global financial system that is a little bit less opaque and a little bit more accessible.