-
Notifications
You must be signed in to change notification settings - Fork 1
/
index.html
125 lines (94 loc) · 9.58 KB
/
index.html
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
<!doctype html>
<html lang="en">
<head>
<meta charset="utf-8">
<title>Project Chicago - Towards the Study of Cryptocommodities</title>
<meta name="description" content="Project Chicago is an interdisciplinary research effort aimed at understanding blockchain commodity pricing markets and financial instruments.">
<link href="https://fonts.googleapis.com/css?family=Source+Code+Pro" rel="stylesheet">
<link href="https://fonts.googleapis.com/css?family=Source+Sans+Pro" rel="stylesheet">
<link rel="stylesheet" href="style.css">
<!-- favicon crap -->
<link rel="apple-touch-icon" sizes="57x57" href="favicon/apple-icon-57x57.png">
<link rel="apple-touch-icon" sizes="60x60" href="favicon/apple-icon-60x60.png">
<link rel="apple-touch-icon" sizes="72x72" href="favicon/apple-icon-72x72.png">
<link rel="apple-touch-icon" sizes="76x76" href="favicon/apple-icon-76x76.png">
<link rel="apple-touch-icon" sizes="114x114" href="favicon/apple-icon-114x114.png">
<link rel="apple-touch-icon" sizes="120x120" href="favicon/apple-icon-120x120.png">
<link rel="apple-touch-icon" sizes="144x144" href="favicon/apple-icon-144x144.png">
<link rel="apple-touch-icon" sizes="152x152" href="favicon/apple-icon-152x152.png">
<link rel="apple-touch-icon" sizes="180x180" href="favicon/apple-icon-180x180.png">
<link rel="icon" type="imagefavicon/png" sizes="192x192" href="favicon/android-icon-192x192.png">
<link rel="icon" type="imagefavicon/png" sizes="32x32" href="favicon/favicon-32x32.png">
<link rel="icon" type="imagefavicon/png" sizes="96x96" href="favicon/favicon-96x96.png">
<link rel="icon" type="imagefavicon/png" sizes="16x16" href="favicon/favicon-16x16.png">
<link rel="manifest" href="favicon/manifest.json">
<meta name="msapplication-TileColor" content="#ffffff">
<meta name="msapplication-TileImage" content="favicon/ms-icon-144x144.png">
<meta name="theme-color" content="#ffffff">
<script type="text/x-mathjax-config">
MathJax.Hub.Config({
tex2jax: {inlineMath: [['$','$'], ['\\(','\\)']]}
});
</script>
<script type="text/javascript" async
src="https://cdnjs.cloudflare.com/ajax/libs/mathjax/2.7.1/MathJax.js?config=TeX-MML-AM_CHTML">
</script>
<!-- Place this tag in your head or just before your close body tag. -->
<script async defer src="https://buttons.github.io/buttons.js"></script>
</head>
<body>
<div style="height: 100%;">
<div id="header"> <a href="/" class="nohighlight" style="color:black;"><h1>Project Chicago</h1> <h4>For the study of<br>cryptocommodities</h4> </a> </div>
<div id="chicagoheader"></div>
</div>
<div id="content" style="margin-top:0px;">
<p>
<b> Project Chicago </b> is a new research initiative aiming to explore a question fundamental to all cryptocurrencies: <i> what resources are being
exchanged in blockchain markets, and how can we accurately price these resources? </i>
<br><br>
Project Chicago is an interdisciplinary effort with top blockchain researchers from around the world, headquartered at the <a href="http://initc3.org/">Initiative
for Cryptocurrencies and Contracts</a>. You can stay updated on Project Chicago's progress by following us on social media.
<!-- Place this tag where you want the button to render. -->
<div class="center">
<a class="github-button" href="https://github.com/projectchicago" data-size="large" aria-label="Follow @projectchicago on GitHub">Follow @projectchicago</a>
<a href="https://twitter.com/projectchicago_?ref_src=twsrc%5Etfw" class="twitter-follow-button" data-size="large" data-lang="en" data-dnt="true" data-show-count="false">Follow @projectchicago_</a><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
<h1><a class="nohighlight" href="#cryptocommodities" name="cryptocommodities"> What are cryptocommodities? </a></h1>
Cryptocommodities, very simply, are raw resources used for blockchain transactions. The main examples are various forms of blockchain memory (e.g., block space or space in a UTXO set) or computation (e.g., gas in Ethereum). Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets.
<br><br>
Like these conventional commodities, blockchain commodities are critically important to blockchain-based industries, and fluctuations in their prices pose a business risk. (Recent, high Bitcoin transaction fees, for example, were <a href="https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-rising-high">crippling</a>.)
A critical property of physical commodities is that they can be stored and delivered under contract.
The resulting <i>derivatives</i> market (financial instruments based on commodity prices) is instrumental for managing and alleviating the business risks associated with surpluses and shortages of the commodities they rely upon.
In contrast, cryptocommodities such as Ethereum Gas and Bitcoin block space cannot be directly stocked or traded. So how could a cryptocommodities market like, say, the Chicago Mercantile Exchange, possibly work? And how might it help blockchain users?
<h1><a class="nohighlight" href="#goals" name="goals"> What is Project Chicago's goal? </a></h1>
Project Chicago, a broad cross-university research effort, aims to answer these questions.
It aims at a fresh reconceptualization of ways in which cryptocommodities, including blockchain storage, computing, and networking, are managed and consumed. Its goal is to alleviate problems, like volatility, that degrade the utility of blockchain systems.
<br><br>
As a springboard for cryptocommodity market creation, we’ve implemented a contract called <a href="https://gastoken.io">GasToken</a>. GasToken allows gas in Ethereum to be “banked” in the form of an (ERC20-compatible) token, and released to pay for future transactions.
GasToken is a first example of an explicit open market for a cryptocommodity. By enabling users to freely stock and tokenize gas, we open up avenues for trades on surpluses and shortages of gas in Ethereum (i.e., in periods of low or high computation in the network). In turn, such markets may hold the promise of stabilizing gas prices and transaction fees by absorbing part of the uncertainty associated with price movements.
<h1><a class="nohighlight" href="#nextsteps" name="nextsteps"> What are the next steps? </a></h1>
We are an academic effort dedicated to producing both rigorous peer
reviewed research papers, and usable proof-of-concepts and
prototypes towards better understanding markets for cryptocommodities and
their derivatives.
<br><br>
GasToken is the first output of Project Chicago, and represents one of our two project thrusts. We are devising mechanisms, like GasToken, to retrofit existing systems and produce immediate benefits like price stability. We are also considering longer-term, clean-slate ideas in which consensus and mining protocols directly support stable and cost-efficient pricing regimes, evaluating proposals such as <a href="https://github.com/ethereum/EIPs/issues/87">EIP87</a> and formulating principled new approaches.
<h1><a class="nohighlight" href="#members" name="members"> Members </a></h1>
We are a team of blockchain researchers from around the world:
<ul>
<li><a class="nohighlight" href="http://www.arijuels.com/">Ari Juels</a> (<a class="nohighlight" href="https://tech.cornell.edu/">Cornell Tech</a>, <a class="nohighlight" href="http://www.initc3.org/">IC3</a>, <a class="nohighlight" href="https://tech.cornell.edu/jacobs-technion-cornell-institute/overview">The Jacobs Institute</a>)</li>
<li><a class="nohighlight" href="https://twitter.com/ethlorenz">Lorenz Breidenbach</a> (<a class="nohighlight" href="https://www.ethz.ch">ETH Zürich</a>, <a class="nohighlight" href="https://tech.cornell.edu/">Cornell Tech</a>, <a class="nohighlight" href="http://www.initc3.org/">IC3</a>)</li>
<li><a class="nohighlight" href="http://pdaian.com">Phil Daian</a> (<a class="nohighlight" href="https://tech.cornell.edu/">Cornell Tech</a>, <a class="nohighlight" href="http://www.initc3.org/">IC3</a>)</li>
<li>Yan Ji (<a class="nohighlight" href="https://tech.cornell.edu/">Cornell Tech</a>, <a class="nohighlight" href="http://www.initc3.org/">IC3</a>)</li>
<li><a class="nohighlight" href="http://floriantramer.com/">Florian Tramèr</a> (<a class="nohighlight" href="https://www.stanford.edu/">Stanford University</a>)</li>
</ul>
</p>
</div>
<div id="footer">
A project of
<div>
<a href="http://www.initc3.org/"><img width="90%" src="ic3.png" alt="IC3" /></a>
</div>
<br><br>
Logos licensed under Creative Commons, using elements from<br><a href="https://www.flickr.com/photos/pagedooley/19824394778/in/photolist-wcPcTY-KHvsau-55spdy-dYSEjP-XMWXTm-JQ5Ndx-Xejp1G-XUH6Wk-Q1C2rB-M3gx8J-XME7E3-4Tuw3o-8oX1d1-VXk2g1-QanPta-ZHnsU3-6HvqSk-4TqrrV-Xtbj6n-wbpABi-UNYvGz-gz8o6-WvyG41-Wd6kxr-5ZxmFZ-YbK9RP-6ouFac-7usSJY-Wn1eYr-WGht5Y-5Ackog-6ouFrP-XKdXJ9-a5iD2z-Qc4T51-yMU7eN-WgQft4-hKU9zw-8pYagL-91fSVg-KfoQJ1-JKzphN-e9X8Gr-fFd5hC-W7cyZQ-yMejG6-9qSjka-uG8N9b-tQtyZ2-8T669S">Kevin Dooley</a>
</div>