🏦 DeFi Safety Workshop on Timelock Encryption 🛡️

Welcome to the DeFi Safety Workshop on Timelock Encryption! This repository contains all the resources, code, and materials needed for a hands-on developer workshop focused on improving security in decentralized finance (DeFi) using timelock encryption. Timelock encryption enables data to be encrypted and decrypted only after a specified time period or condition is met. This approach is valuable for delaying access to sensitive information, securing transactions, and mitigating front-running attacks.

📋 Table of Contents

1. About the Workshop
2. Prerequisites
3. Setup Instructions
4. Workshop Agenda
5. Learning Objectives
6. Resources
7. Contributing
8. License

About the Workshop

In this workshop, we explore how the security of smart contracts and DeFi applications can be enhanced using timelock encryption.

Participants will:

• Learn the fundamentals of timelock encryption and its applications in DeFi. It is worth mentioning that this differs from Timelock smart contracts, also known as time-based or delayed contracts, which are a specialized type of smart contract that introduces a delay or time-based constraint on the execution of certain actions or transactions.
• Understand the potential vulnerabilities that timelock encryption addresses to enhance the security of DeFi protocols.
• Implement a simple smart contract that incorporates timelock functionalities.

Workshop Agenda

1. Introduction to Timelock Encryption
   • An introduction to timelock encryption:
     • What is it?
     • Features
     • Use cases
2. Enhancing Security in DeFi with Timelock Encryption
   • Overview of use cases in DeFi (e.g., securing auctions, sealed bids, delayed transactions, securing governance actions relating to lending parameters, securing staking reward distribution information, among others).
3. Hands-On Exercise: Simple Auction Smart Contract with Sealed Bids Secured by Timelock Encryption
4. Q&A and Wrap-Up

Learning Objectives

By the end of the workshop, participants will be able to:

• Understand the principles and benefits of timelock encryption in DeFi.
• Implement and deploy Solidity smart contracts with timelock functionality.

Prerequisites

Before getting started, ensure you have the following tools installed:

1. Docker: Make sure Docker is installed on your system. You can download Docker from Docker's official website.

2. Docker Compose: Docker Compose is usually included with Docker Desktop installations. To verify its installation, run the following command:

   docker compose version

Setup Instructions

Follow these steps to set up your local environment for the workshop:

1. Clone the Repository

   git clone https://github.com/randa-mu/devcon-2024-timelock-workshop.git
   cd devcon-2024-timelock-workshop

2. Start Services Using Docker Compose: The docker-compose.yml file defines all the services that are required to run the project. To start these services in detached mode (background), run the following command:

   docker compose up -d

   Docker Compose will automatically: - Create all required images. - Build the services as needed. - Set up networks and containers.

3. Verify Running Containers To check that all services are running correctly, use:

   docker compose ps

   This will show a list of all containers and their current status. Ensure that each service defined in docker-compose.yml is listed and is running.

Once you've verified that all the required services are up and running, please follow the step-by-step guide provided for the hands-on exercise.

Resources

Here are some helpful resources for further reading:

• Timelock Encryption On-Chain
• Ethereum Smart Contract Best Practices
• Foundry Documentation
• Solidity Documentation
• OpenZeppelin Contracts Library

Contributing

Contributions are welcome! If you have any suggestions or improvements for the workshop, feel free to submit a pull request or open an issue.

1. Fork the repository.
2. Clone your forked repository to your local machine.
3. Create a new branch: git checkout -b feature/your-feature-name.
4. Commit your changes: git commit -m 'Add some feature'.
5. Push to the branch: git push origin feature/your-feature-name.
6. Open a pull request.

License

This project is licensed under the MIT License. See the LICENSE file for details.