Why are you participating for Based India?

We are a group of motivated blockchain enthusisasts who like to get their hands dirty working problems . We are part of BlocSoc IITR (Blockchain Society IIT Roorkee)Hearing about this great opportunity to show off our work , we decided to participate in this hackathon . This hackathon provides an excellent platform to explore new ideas, collaborate with like-minded developers, and bring llike light clients like Selene to a wider audience.

What challenges are you focusing on?

We are focusing on the challenge of centralized data reliance in Web3 applications. Many current dApps depend heavily on third-party APIs . For example in Neom we have used Alchemy , CoinGecko and Reservoir for rpc calls , which undermines the decentralized ethos of the ecosystem. We aim to remove these centralized intermediaries by integrating Selene to provide decentralized data through light client architecture.

How does your submission address this challenge?

Our project, Neom, is. a multichain portfolio manager with a light cliient as its blockchain data fetcher . We tackles this issue of centralized data reliance in Web3 applications by using Selene to fetch decentralized, trustless blockchain data instead of relying on centralized RPC services. This enables us to not only get our portfolio data seamlessly in one go but also verifiable know that the data is correct and can be trusted .Selene uses a consensus layer and execution layer (consensus rpc and execution rpc respectively) to fetch data and verify the data . With verified block headers and Merkle proof validation, Neom improves data integrity and security. The solution ensures that portfolio data and other Web3 information are verifiable and untampered, creating a decentralized and reliable user experience.
This means that a malicious RPC cannot trick you into believing false data it can only refuse to provide you data upon which Selene will just switch the RPC.This is a huge step towards Full Decentralization as any user with low computational resources can also run Selene and trustlessly verify data for themselves .
This project has the potential to significantly reduce reliance on third-party APIs, empower developers to build more secure and decentralized dApps, and enhance the trustworthiness of blockchain interactions.

Challenges we ran into

Building a Light Client from scratch is a long and complicated process which takes time .Right now Selene is not fully functional . We are just showing a proof of concept on what would be considered the future in Blockchain . Even building a Portfolio Manager in a short time is a bit challenging , having to deal with fetching a lot of logs , api retries , getting nft prices , filtering from the nft metadata what all is important and getting token contract addresses .

Additional Features

We are actively working on Selene since the start of June and we plan to ship v0.1 of Selene withing the first week of November'24 itself ! During the hackathon we worked on testing the Execution Layer verification code and integrating consensus layer and execution layer to work together . However the execution module still have some work to be done before it can be fully functional and completely integrated into Neom .
Moreover Integrating Base Names into Neom can enhance the user experience and add new functionalities to the portfolio manager. Base Names is a decentralized naming system similar to ENS (Ethereum Name Service) but specifically designed for the Base network. Users will be able to link their wallet addresses with readable names .When fetching a user’s NFT portfolio or token balances, the portfolio manager could display the Base Name instead of a cryptographic address, making it more user-friendly. contributing to the broader Base ecosystem.
Note that in video demo we presented with base and ethereum network .