WEBVTT Kind: captions Language: en 00:00:01.010 --> 00:00:11.509 align:start position:0% [Music] 00:00:11.509 --> 00:00:11.519 align:start position:0% 00:00:11.519 --> 00:00:13.549 align:start position:0% can<00:00:11.639> you<00:00:11.799> hear 00:00:13.549 --> 00:00:13.559 align:start position:0% can you hear 00:00:13.559 --> 00:00:16.870 align:start position:0% can you hear me<00:00:14.559> all<00:00:14.759> right<00:00:15.519> um 00:00:16.870 --> 00:00:16.880 align:start position:0% me all right um 00:00:16.880 --> 00:00:20.990 align:start position:0% me all right um so<00:00:17.880> um<00:00:18.400> being<00:00:18.640> a<00:00:18.800> Founder<00:00:19.640> uh<00:00:19.720> of<00:00:19.880> el2<00:00:20.240> beat<00:00:20.880> uh 00:00:20.990 --> 00:00:21.000 align:start position:0% so um being a Founder uh of el2 beat uh 00:00:21.000 --> 00:00:23.509 align:start position:0% so um being a Founder uh of el2 beat uh I<00:00:21.080> do<00:00:21.240> have<00:00:21.320> a<00:00:21.439> unique<00:00:21.760> opportunity<00:00:22.359> to<00:00:22.680> work 00:00:23.509 --> 00:00:23.519 align:start position:0% I do have a unique opportunity to work 00:00:23.519 --> 00:00:27.029 align:start position:0% I do have a unique opportunity to work with<00:00:23.920> uh<00:00:24.400> essentially<00:00:24.880> every<00:00:25.119> single<00:00:25.800> L2<00:00:26.800> uh 00:00:27.029 --> 00:00:27.039 align:start position:0% with uh essentially every single L2 uh 00:00:27.039 --> 00:00:28.990 align:start position:0% with uh essentially every single L2 uh Team<00:00:27.480> out<00:00:27.760> there<00:00:28.039> and<00:00:28.199> we've<00:00:28.359> been<00:00:28.560> working 00:00:28.990 --> 00:00:29.000 align:start position:0% Team out there and we've been working 00:00:29.000 --> 00:00:31.429 align:start position:0% Team out there and we've been working with<00:00:29.199> them<00:00:30.000> since<00:00:30.400> uh<00:00:30.599> very<00:00:30.840> beginning<00:00:31.240> of 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quickly um we've worked with the early 00:00:40.120 --> 00:00:43.150 align:start position:0% quickly um we've worked with the early Pioneers<00:00:41.039> in<00:00:41.200> ZK<00:00:41.680> Tech<00:00:42.200> uh<00:00:42.320> we've<00:00:42.559> worked<00:00:42.960> with 00:00:43.150 --> 00:00:43.160 align:start position:0% Pioneers in ZK Tech uh we've worked with 00:00:43.160 --> 00:00:46.310 align:start position:0% Pioneers in ZK Tech uh we've worked with the<00:00:43.480> uh<00:00:44.079> plasma<00:00:44.520> group<00:00:45.000> that<00:00:45.200> renamed<00:00:46.000> to 00:00:46.310 --> 00:00:46.320 align:start position:0% the uh plasma group that renamed to 00:00:46.320 --> 00:00:51.350 align:start position:0% the uh plasma group that renamed to optimism<00:00:47.320> we've<00:00:47.760> worked<00:00:48.760> with<00:00:49.480> um<00:00:50.360> arbitrum 00:00:51.350 --> 00:00:51.360 align:start position:0% optimism we've worked with um arbitrum 00:00:51.360 --> 00:00:54.430 align:start position:0% optimism we've worked with um arbitrum and<00:00:52.079> uh<00:00:52.640> from<00:00:52.920> this<00:00:53.160> stage<00:00:53.960> I<00:00:54.039> do<00:00:54.160> want<00:00:54.280> to 00:00:54.430 --> 00:00:54.440 align:start position:0% and uh from this stage I do want to 00:00:54.440 --> 00:00:56.430 align:start position:0% and uh from this stage I do want to acknowledge<00:00:55.239> uh<00:00:55.359> all<00:00:55.559> these<00:00:55.719> teams<00:00:56.160> because 00:00:56.430 --> 00:00:56.440 align:start position:0% acknowledge uh all these teams because 00:00:56.440 --> 00:00:58.270 align:start position:0% acknowledge uh all these teams because without<00:00:56.719> your<00:00:56.960> support<00:00:57.800> we<00:00:57.960> certainly 00:00:58.270 --> 00:00:58.280 align:start position:0% without your support we certainly 00:00:58.280 --> 00:01:02.790 align:start position:0% without your support we certainly wouldn't<00:00:58.559> be<00:00:59.199> here<00:01:00.160> and<00:01:00.840> uh<00:01:01.840> as<00:01:02.039> L2<00:01:02.359> beat<00:01:02.680> we 00:01:02.790 --> 00:01:02.800 align:start position:0% wouldn't be here and uh as L2 beat we 00:01:02.800 --> 00:01:05.550 align:start position:0% wouldn't be here and uh as L2 beat we are<00:01:03.280> extremely<00:01:03.920> extremely<00:01:04.439> thankful<00:01:05.320> uh<00:01:05.400> for 00:01:05.550 --> 00:01:05.560 align:start position:0% are extremely extremely thankful uh for 00:01:05.560 --> 00:01:06.870 align:start position:0% are extremely extremely thankful uh for all<00:01:05.680> the<00:01:05.799> support<00:01:06.080> that<00:01:06.200> the<00:01:06.280> community<00:01:06.640> gives 00:01:06.870 --> 00:01:06.880 align:start position:0% all the support that the community gives 00:01:06.880 --> 00:01:09.749 align:start position:0% all the support that the community gives us<00:01:07.759> so<00:01:08.680> uh<00:01:08.799> let's<00:01:08.960> have<00:01:09.080> a<00:01:09.200> look<00:01:09.400> what<00:01:09.520> we've 00:01:09.749 --> 00:01:09.759 align:start position:0% us so uh let's have a look what we've 00:01:09.759 --> 00:01:12.429 align:start position:0% us so uh let's have a look what we've managed<00:01:10.080> to<00:01:10.520> achieve<00:01:11.520> well<00:01:11.880> uh<00:01:12.000> first<00:01:12.200> of<00:01:12.320> all 00:01:12.429 --> 00:01:12.439 align:start position:0% managed to achieve well uh first of all 00:01:12.439 --> 00:01:14.350 align:start position:0% managed to achieve well uh first of all we've<00:01:12.600> managed<00:01:12.840> to<00:01:12.960> launch<00:01:13.720> almost<00:01:14.040> 50 00:01:14.350 --> 00:01:14.360 align:start position:0% we've managed to launch almost 50 00:01:14.360 --> 00:01:17.950 align:start position:0% we've managed to launch almost 50 rollups<00:01:15.240> and<00:01:15.439> over<00:01:15.680> 50<00:01:16.080> LDA<00:01:16.720> l2s<00:01:17.720> that's 00:01:17.950 --> 00:01:17.960 align:start position:0% rollups and over 50 LDA l2s that's 00:01:17.960 --> 00:01:20.190 align:start position:0% rollups and over 50 LDA l2s that's incredible<00:01:18.479> achievement<00:01:19.439> it's<00:01:19.600> a<00:01:19.799> lot<00:01:19.960> of 00:01:20.190 --> 00:01:20.200 align:start position:0% incredible achievement it's a lot of 00:01:20.200 --> 00:01:23.149 align:start position:0% incredible achievement it's a lot of systems<00:01:20.960> and<00:01:21.520> we've<00:01:21.759> got<00:01:22.040> almost<00:01:22.400> as<00:01:22.560> many<00:01:22.960> to 00:01:23.149 --> 00:01:23.159 align:start position:0% systems and we've got almost as many to 00:01:23.159 --> 00:01:27.749 align:start position:0% systems and we've got almost as many to launch<00:01:23.799> in<00:01:23.960> the<00:01:24.079> coming<00:01:24.400> months<00:01:25.280> uh<00:01:26.520> now<00:01:27.520> we've 00:01:27.749 --> 00:01:27.759 align:start position:0% launch in the coming months uh now we've 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they all going up only um the 00:01:36.600 --> 00:01:38.510 align:start position:0% charts they all going up only um the thing<00:01:36.840> is<00:01:37.200> that<00:01:37.360> you<00:01:37.479> know<00:01:37.640> we've<00:01:37.880> all<00:01:38.079> that 00:01:38.510 --> 00:01:38.520 align:start position:0% thing is that you know we've all that 00:01:38.520 --> 00:01:41.710 align:start position:0% thing is that you know we've all that growth<00:01:39.479> vers<00:01:39.799> also<00:01:40.079> a<00:01:40.200> lot<00:01:40.320> of<00:01:40.799> responsibility 00:01:41.710 --> 00:01:41.720 align:start position:0% growth vers also a lot of responsibility 00:01:41.720 --> 00:01:45.870 align:start position:0% growth vers also a lot of responsibility so<00:01:42.360> we<00:01:42.479> do<00:01:42.759> need<00:01:43.040> to<00:01:43.520> like<00:01:44.000> uh<00:01:44.520> understand<00:01:45.439> that 00:01:45.870 --> 00:01:45.880 align:start position:0% so we do need to like uh understand that 00:01:45.880 --> 00:01:49.310 align:start position:0% so we do need to like uh understand that end<00:01:46.119> users<00:01:46.640> who<00:01:46.799> are<00:01:46.920> using<00:01:47.360> these<00:01:48.320> systems 00:01:49.310 --> 00:01:49.320 align:start position:0% end users who are using these systems 00:01:49.320 --> 00:01:50.830 align:start position:0% end users who are using these systems they<00:01:49.479> are<00:01:49.680> putting<00:01:50.079> money<00:01:50.399> into<00:01:50.680> these 00:01:50.830 --> 00:01:50.840 align:start position:0% they are putting money into these 00:01:50.840 --> 00:01:53.510 align:start position:0% they are putting money into these rollups<00:01:51.479> because<00:01:51.880> they<00:01:52.079> do<00:01:52.360> believe<00:01:52.920> that 00:01:53.510 --> 00:01:53.520 align:start position:0% rollups because they do believe that 00:01:53.520 --> 00:01:56.550 align:start position:0% rollups because they do believe that rollups<00:01:54.240> inherit<00:01:54.680> the<00:01:54.799> security<00:01:55.159> of<00:01:55.560> ethereum 00:01:56.550 --> 00:01:56.560 align:start position:0% rollups inherit the security of ethereum 00:01:56.560 --> 00:02:00.190 align:start position:0% rollups inherit the security of ethereum and<00:01:56.920> with<00:01:57.360> that<00:01:57.920> kind<00:01:58.039> of<00:01:58.560> realization<00:01:59.560> uh<00:02:00.000> my 00:02:00.190 --> 00:02:00.200 align:start position:0% and with that kind of realization uh my 00:02:00.200 --> 00:02:02.190 align:start position:0% and with that kind of realization uh my opinion<00:02:01.000> uh<00:02:01.119> we<00:02:01.240> need<00:02:01.399> to<00:02:01.560> start<00:02:01.880> getting 00:02:02.190 --> 00:02:02.200 align:start position:0% opinion uh we need to start getting 00:02:02.200 --> 00:02:05.630 align:start position:0% opinion uh we need to start getting serious<00:02:03.119> about<00:02:03.920> security<00:02:04.920> uh<00:02:05.119> We've<00:02:05.399> also 00:02:05.630 --> 00:02:05.640 align:start position:0% serious about security uh We've also 00:02:05.640 --> 00:02:10.150 align:start position:0% serious about security uh We've also managed<00:02:06.039> to<00:02:06.680> uh<00:02:06.840> scale<00:02:07.640> ethereum<00:02:08.440> I<00:02:08.640> mean<00:02:09.640> um 00:02:10.150 --> 00:02:10.160 align:start position:0% managed to uh scale ethereum I mean um 00:02:10.160 --> 00:02:12.869 align:start position:0% managed to uh scale ethereum I mean um ethereum<00:02:10.679> was<00:02:11.120> charmming<00:02:11.560> along<00:02:12.160> quite<00:02:12.480> fine 00:02:12.869 --> 00:02:12.879 align:start position:0% ethereum was charmming along quite fine 00:02:12.879 --> 00:02:15.150 align:start position:0% ethereum was charmming along quite fine but<00:02:13.200> it<00:02:13.319> started<00:02:13.640> to<00:02:13.760> get<00:02:13.959> really<00:02:14.239> really<00:02:14.480> slow 00:02:15.150 --> 00:02:15.160 align:start position:0% but it started to get really really slow 00:02:15.160 --> 00:02:17.949 align:start position:0% but it started to get really really slow for<00:02:15.360> the<00:02:15.519> demand<00:02:16.319> and<00:02:16.640> the<00:02:16.800> fees<00:02:17.319> were<00:02:17.840> uh 00:02:17.949 --> 00:02:17.959 align:start position:0% for the demand and the fees were uh 00:02:17.959 --> 00:02:21.070 align:start position:0% for the demand and the fees were uh getting<00:02:18.319> really<00:02:18.640> really<00:02:19.160> high<00:02:19.879> so<00:02:20.440> surely<00:02:20.959> we 00:02:21.070 --> 00:02:21.080 align:start position:0% getting really really high so surely we 00:02:21.080 --> 00:02:24.390 align:start position:0% getting really really high so surely we are<00:02:21.239> scaling<00:02:22.160> these<00:02:22.360> numbers<00:02:22.920> also<00:02:23.280> go<00:02:23.519> up<00:02:24.160> uh 00:02:24.390 --> 00:02:24.400 align:start position:0% are scaling these numbers also go up uh 00:02:24.400 --> 00:02:28.150 align:start position:0% are scaling these numbers also go up uh this<00:02:24.480> is<00:02:24.879> incredible<00:02:25.879> um<00:02:26.560> however<00:02:27.440> uh<00:02:28.000> there 00:02:28.150 --> 00:02:28.160 align:start position:0% this is incredible um however uh there 00:02:28.160 --> 00:02:30.110 align:start position:0% this is incredible um however uh there is<00:02:28.400> but 00:02:30.110 --> 00:02:30.120 align:start position:0% is but 00:02:30.120 --> 00:02:32.110 align:start position:0% is but you<00:02:30.239> know<00:02:30.440> guys<00:02:30.599> there's<00:02:30.840> always<00:02:31.200> but<00:02:31.760> right 00:02:32.110 --> 00:02:32.120 align:start position:0% you know guys there's always but right 00:02:32.120 --> 00:02:35.070 align:start position:0% you know guys there's always but right and<00:02:32.440> uh<00:02:32.599> I'm<00:02:32.879> just<00:02:33.160> here<00:02:33.680> uh<00:02:33.800> to<00:02:34.080> be<00:02:34.400> honest 00:02:35.070 --> 00:02:35.080 align:start position:0% and uh I'm just here uh to be honest 00:02:35.080 --> 00:02:37.550 align:start position:0% and uh I'm just here uh to be honest with<00:02:35.280> all<00:02:35.440> of<00:02:35.599> you<00:02:36.239> and<00:02:36.519> I<00:02:36.760> really<00:02:37.000> want<00:02:37.360> this 00:02:37.550 --> 00:02:37.560 align:start position:0% with all of you and I really want this 00:02:37.560 --> 00:02:40.270 align:start position:0% with all of you and I really want this space<00:02:37.920> to<00:02:38.120> get<00:02:38.519> serious<00:02:39.519> and<00:02:39.800> this<00:02:39.920> is<00:02:40.080> my 00:02:40.270 --> 00:02:40.280 align:start position:0% space to get serious and this is my 00:02:40.280 --> 00:02:43.710 align:start position:0% space to get serious and this is my opportunity<00:02:40.879> to<00:02:41.480> uh<00:02:42.000> uh<00:02:42.120> to<00:02:42.360> call<00:02:43.159> uh<00:02:43.239> for<00:02:43.440> your 00:02:43.710 --> 00:02:43.720 align:start position:0% opportunity to uh uh to call uh for your 00:02:43.720 --> 00:02:46.990 align:start position:0% opportunity to uh uh to call uh for your support<00:02:44.599> uh<00:02:44.760> to<00:02:45.440> make<00:02:45.640> sure<00:02:46.400> that<00:02:46.560> we<00:02:46.720> don't 00:02:46.990 --> 00:02:47.000 align:start position:0% support uh to make sure that we don't 00:02:47.000 --> 00:02:49.830 align:start position:0% support uh to make sure that we don't fail<00:02:47.879> we<00:02:48.040> don't<00:02:48.280> fail<00:02:48.640> the<00:02:48.840> expectations<00:02:49.680> of 00:02:49.830 --> 00:02:49.840 align:start position:0% fail we don't fail the expectations of 00:02:49.840 --> 00:02:52.190 align:start position:0% fail we don't fail the expectations of the<00:02:50.000> community<00:02:50.640> that<00:02:50.800> we're<00:02:51.000> starting<00:02:51.480> to<00:02:52.040> uh 00:02:52.190 --> 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for too long 00:03:00.599 --> 00:03:02.790 align:start position:0% like using training wheels for too long if<00:03:00.680> you're<00:03:00.879> an<00:03:01.080> adult<00:03:01.560> using<00:03:01.920> training<00:03:02.319> wheels 00:03:02.790 --> 00:03:02.800 align:start position:0% if you're an adult using training wheels 00:03:02.800 --> 00:03:06.589 align:start position:0% if you're an adult using training wheels and<00:03:03.200> I<00:03:03.400> repeat<00:03:04.280> uh<00:03:04.519> it's<00:03:04.680> been<00:03:04.879> 4<00:03:05.360> years<00:03:06.360> uh 00:03:06.589 --> 00:03:06.599 align:start position:0% and I repeat uh it's been 4 years uh 00:03:06.599 --> 00:03:08.869 align:start position:0% and I repeat uh it's been 4 years uh then<00:03:07.000> you<00:03:07.319> kind<00:03:07.480> of<00:03:07.720> like<00:03:08.159> are<00:03:08.519> really 00:03:08.869 --> 00:03:08.879 align:start position:0% then you kind of like are really 00:03:08.879 --> 00:03:12.149 align:start position:0% then you kind of like are really immature<00:03:09.799> right<00:03:10.519> so<00:03:11.239> it's<00:03:11.560> okay<00:03:11.799> to<00:03:11.959> use 00:03:12.149 --> 00:03:12.159 align:start position:0% immature right so it's okay to use 00:03:12.159 --> 00:03:13.869 align:start position:0% immature right so it's okay to use training<00:03:12.480> wheels<00:03:12.840> if<00:03:12.959> you're<00:03:13.120> a<00:03:13.280> child<00:03:13.680> it's 00:03:13.869 --> 00:03:13.879 align:start position:0% training wheels if you're a child it's 00:03:13.879 --> 00:03:15.830 align:start position:0% training wheels if you're a child it's not<00:03:14.200> okay<00:03:14.400> to<00:03:14.519> use<00:03:14.720> training<00:03:15.120> wheels<00:03:15.680> if 00:03:15.830 --> 00:03:15.840 align:start position:0% not okay to use training wheels if 00:03:15.840 --> 00:03:18.070 align:start position:0% not okay to use training wheels if you're<00:03:16.000> an<00:03:16.159> adult<00:03:17.040> and<00:03:17.280> I<00:03:17.400> think<00:03:17.599> it's<00:03:17.879> time 00:03:18.070 --> 00:03:18.080 align:start position:0% you're an adult and I think it's time 00:03:18.080 --> 00:03:20.509 align:start position:0% you're an adult and I think it's time for<00:03:18.319> all<00:03:18.480> of<00:03:18.640> us<00:03:19.200> really<00:03:19.560> to<00:03:19.720> stop<00:03:19.959> being<00:03:20.159> shy 00:03:20.509 --> 00:03:20.519 align:start position:0% for all of us really to stop being shy 00:03:20.519 --> 00:03:23.869 align:start position:0% for all of us really to stop being shy about<00:03:20.760> it<00:03:21.640> we<00:03:21.959> really<00:03:22.200> should<00:03:22.440> all<00:03:22.599> speak<00:03:22.920> out 00:03:23.869 --> 00:03:23.879 align:start position:0% about it we really should all speak out 00:03:23.879 --> 00:03:26.149 align:start position:0% about it we really should all speak out and<00:03:24.159> we<00:03:24.280> shouldn't<00:03:24.720> really<00:03:24.959> suffer<00:03:25.480> from<00:03:26.000> uh 00:03:26.149 --> 00:03:26.159 align:start position:0% and we shouldn't really suffer from uh 00:03:26.159 --> 00:03:29.869 align:start position:0% and we shouldn't really suffer from uh emperis<00:03:27.040> uh<00:03:27.560> uh<00:03:27.680> clo<00:03:28.159> syndrome 00:03:29.869 --> 00:03:29.879 align:start position:0% emperis uh uh clo syndrome 00:03:29.879 --> 00:03:32.990 align:start position:0% emperis uh uh clo syndrome so<00:03:30.400> what<00:03:30.519> is<00:03:30.720> this<00:03:30.879> big<00:03:31.239> butt<00:03:32.239> well<00:03:32.599> first<00:03:32.840> of 00:03:32.990 --> 00:03:33.000 align:start position:0% so what is this big butt well first of 00:03:33.000 --> 00:03:36.509 align:start position:0% so what is this big butt well first of all<00:03:33.840> most<00:03:34.239> l2s<00:03:34.879> today<00:03:35.439> do<00:03:35.680> not<00:03:35.959> have<00:03:36.080> a<00:03:36.239> proof 00:03:36.509 --> 00:03:36.519 align:start position:0% all most l2s today do not have a proof 00:03:36.519 --> 00:03:38.190 align:start position:0% all most l2s today do not have a proof system<00:03:37.080> which<00:03:37.200> is<00:03:37.319> kind<00:03:37.439> of<00:03:37.560> surprising 00:03:38.190 --> 00:03:38.200 align:start position:0% system which is kind of surprising 00:03:38.200 --> 00:03:41.910 align:start position:0% system which is kind of surprising because<00:03:38.439> early<00:03:38.799> Pioneers<00:03:39.799> like<00:03:40.360> starnet<00:03:41.360> like 00:03:41.910 --> 00:03:41.920 align:start position:0% because early Pioneers like starnet like 00:03:41.920 --> 00:03:45.030 align:start position:0% because early Pioneers like starnet like uh<00:03:42.080> ZK<00:03:42.519> sync<00:03:43.159> like<00:03:43.480> Aztec<00:03:44.040> four<00:03:44.360> years<00:03:44.640> ago 00:03:45.030 --> 00:03:45.040 align:start position:0% uh ZK sync like Aztec four years ago 00:03:45.040 --> 00:03:47.270 align:start position:0% uh ZK sync like Aztec four years ago when<00:03:45.200> they<00:03:45.319> were<00:03:45.519> launching<00:03:46.040> their<00:03:46.319> first 00:03:47.270 --> 00:03:47.280 align:start position:0% when they were launching their first 00:03:47.280 --> 00:03:49.509 align:start position:0% when they were launching their first application<00:03:47.799> specific<00:03:48.360> rollups<00:03:49.159> they<00:03:49.280> did 00:03:49.509 --> 00:03:49.519 align:start position:0% application specific rollups they did 00:03:49.519 --> 00:03:52.589 align:start position:0% application specific rollups they did have<00:03:49.680> a<00:03:49.840> proof<00:03:50.439> systems<00:03:51.439> so<00:03:51.799> yes<00:03:52.159> you<00:03:52.319> can 00:03:52.589 --> 00:03:52.599 align:start position:0% have a proof systems so yes you can 00:03:52.599 --> 00:03:55.429 align:start position:0% have a proof systems so yes you can launch<00:03:53.000> today<00:03:53.879> an<00:03:54.079> L2<00:03:54.480> with<00:03:54.680> one<00:03:54.920> click<00:03:55.159> of<00:03:55.280> a 00:03:55.429 --> 00:03:55.439 align:start position:0% launch today an L2 with one click of a 00:03:55.439 --> 00:03:58.270 align:start position:0% launch today an L2 with one click of a button<00:03:56.079> however<00:03:56.879> is<00:03:57.000> that<00:03:57.159> really<00:03:57.360> an<00:03:57.560> L2<00:03:58.159> is 00:03:58.270 --> 00:03:58.280 align:start position:0% button however is that really an L2 is 00:03:58.280 --> 00:04:00.030 align:start position:0% button however is that really an L2 is that<00:03:58.439> really<00:03:58.599> an<00:03:58.799> rollup<00:03:59.319> you<00:03:59.400> know<00:03:59.879> you're 00:04:00.030 --> 00:04:00.040 align:start position:0% that really an rollup you know you're 00:04:00.040 --> 00:04:01.710 align:start position:0% that really an rollup you know you're doing<00:04:00.400> is<00:04:00.560> you're<00:04:00.760> launching<00:04:01.360> something 00:04:01.710 --> 00:04:01.720 align:start position:0% doing is you're launching something 00:04:01.720 --> 00:04:03.830 align:start position:0% doing is you're launching something which<00:04:01.840> is<00:04:02.000> secured<00:04:02.360> by<00:04:02.480> the<00:04:02.640> multisig<00:04:03.640> I<00:04:03.680> don't 00:04:03.830 --> 00:04:03.840 align:start position:0% which is secured by the multisig I don't 00:04:03.840 --> 00:04:06.830 align:start position:0% which is secured by the multisig I don't think<00:04:04.040> that's<00:04:04.280> good<00:04:04.480> enough<00:04:05.360> and<00:04:05.720> the<00:04:06.000> state 00:04:06.830 --> 00:04:06.840 align:start position:0% think that's good enough and the state 00:04:06.840 --> 00:04:09.149 align:start position:0% think that's good enough and the state state<00:04:07.239> of<00:04:07.400> the<00:04:07.640> ecosystem<00:04:08.200> today<00:04:08.599> is<00:04:08.799> kind<00:04:08.959> of 00:04:09.149 --> 00:04:09.159 align:start position:0% state of the ecosystem today is kind of 00:04:09.159 --> 00:04:11.270 align:start position:0% state of the ecosystem today is kind of like<00:04:09.360> this<00:04:09.599> on<00:04:09.799> this<00:04:10.040> diagram<00:04:10.519> so<00:04:10.720> on<00:04:10.840> the<00:04:11.000> left 00:04:11.270 --> 00:04:11.280 align:start position:0% like this on this diagram so on the left 00:04:11.280 --> 00:04:14.309 align:start position:0% like this on this diagram so on the left you<00:04:11.400> can<00:04:11.599> see<00:04:12.599> the<00:04:12.760> current<00:04:13.079> l2s<00:04:13.959> with<00:04:14.159> the 00:04:14.309 --> 00:04:14.319 align:start position:0% you can see the current l2s with the 00:04:14.319 --> 00:04:16.990 align:start position:0% you can see the current l2s with the proof<00:04:14.599> system<00:04:15.000> on<00:04:15.120> the<00:04:15.360> right<00:04:16.079> you<00:04:16.199> can<00:04:16.359> see<00:04:16.880> uh 00:04:16.990 --> 00:04:17.000 align:start position:0% proof system on the right you can see uh 00:04:17.000 --> 00:04:19.469 align:start position:0% proof system on the right you can see uh current<00:04:17.359> to<00:04:17.560> to's<00:04:18.280> current<00:04:19.040> without<00:04:19.320> the 00:04:19.469 --> 00:04:19.479 align:start position:0% current to to's current without the 00:04:19.479 --> 00:04:22.069 align:start position:0% current to to's current without the proof<00:04:19.759> system<00:04:20.120> and<00:04:20.239> I<00:04:20.359> would<00:04:20.600> bet<00:04:21.400> that<00:04:21.799> the 00:04:22.069 --> 00:04:22.079 align:start position:0% proof system and I would bet that the 00:04:22.079 --> 00:04:24.870 align:start position:0% proof system and I would bet that the vast<00:04:22.440> majority<00:04:22.960> of<00:04:23.199> upcoming<00:04:23.840> l2s<00:04:24.400> will<00:04:24.639> not 00:04:24.870 --> 00:04:24.880 align:start position:0% vast majority of upcoming l2s will not 00:04:24.880 --> 00:04:27.469 align:start position:0% vast majority of upcoming l2s will not have<00:04:25.000> a<00:04:25.160> proof<00:04:25.440> system<00:04:26.360> that<00:04:26.479> would<00:04:26.680> include 00:04:27.469 --> 00:04:27.479 align:start position:0% have a proof system that would include 00:04:27.479 --> 00:04:29.390 align:start position:0% have a proof system that would include essentially<00:04:27.919> every<00:04:28.080> single<00:04:28.320> op<00:04:28.639> stack<00:04:28.880> chain 00:04:29.390 --> 00:04:29.400 align:start position:0% essentially every single op stack chain 00:04:29.400 --> 00:04:32.310 align:start position:0% essentially every single op stack chain except<00:04:29.720> except<00:04:29.960> for<00:04:30.120> op<00:04:30.440> Manet<00:04:31.000> and<00:04:31.240> Bas<00:04:32.160> and 00:04:32.310 --> 00:04:32.320 align:start position:0% except except for op Manet and Bas and 00:04:32.320 --> 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align:start position:0% stack chain simply does not have a proof 00:04:39.639 --> 00:04:43.830 align:start position:0% stack chain simply does not have a proof system<00:04:40.520> that<00:04:40.960> chart<00:04:41.720> uh<00:04:41.800> on<00:04:42.000> your<00:04:42.639> uh<00:04:42.960> right<00:04:43.720> uh 00:04:43.830 --> 00:04:43.840 align:start position:0% system that chart uh on your uh right uh 00:04:43.840 --> 00:04:46.830 align:start position:0% system that chart uh on your uh right uh will<00:04:44.160> also<00:04:44.560> include<00:04:45.120> all<00:04:45.280> the<00:04:45.440> orbit<00:04:45.960> Stacks 00:04:46.830 --> 00:04:46.840 align:start position:0% will also include all the orbit Stacks 00:04:46.840 --> 00:04:49.270 align:start position:0% will also include all the orbit Stacks which<00:04:47.479> uh<00:04:48.039> they<00:04:48.199> do<00:04:48.360> have<00:04:48.479> a<00:04:48.600> proof<00:04:48.840> system 00:04:49.270 --> 00:04:49.280 align:start position:0% which uh they do have a proof system 00:04:49.280 --> 00:04:52.350 align:start position:0% which uh they do have a proof system however<00:04:49.520> it's<00:04:49.720> actually<00:04:50.479> behind<00:04:51.479> often<00:04:52.039> very 00:04:52.350 --> 00:04:52.360 align:start position:0% however it's actually behind often very 00:04:52.360 --> 00:04:55.670 align:start position:0% however it's actually behind often very very<00:04:52.680> short<00:04:53.440> permissioned<00:04:54.280> wh<00:04:54.600> list<00:04:55.160> and 00:04:55.670 --> 00:04:55.680 align:start position:0% very short permissioned wh list and 00:04:55.680 --> 00:04:58.469 align:start position:0% very short permissioned wh list and sometimes<00:04:56.320> this<00:04:56.520> Whit<00:04:56.840> list<00:04:57.080> is<00:04:57.280> just<00:04:57.520> one 00:04:58.469 --> 00:04:58.479 align:start position:0% sometimes this Whit list is just one 00:04:58.479 --> 00:05:01.350 align:start position:0% sometimes this Whit list is just one actor<00:04:59.120> it's<00:04:59.280> the<00:04:59.400> same<00:05:00.000> as<00:05:00.440> uh<00:05:00.639> State<00:05:00.919> proposal 00:05:01.350 --> 00:05:01.360 align:start position:0% actor it's the same as uh State proposal 00:05:01.360 --> 00:05:04.150 align:start position:0% actor it's the same as uh State proposal it's<00:05:01.680> essentially<00:05:02.680> ver<00:05:02.840> is<00:05:02.919> a<00:05:03.080> state<00:05:03.320> proposal 00:05:04.150 --> 00:05:04.160 align:start position:0% it's essentially ver is a state proposal 00:05:04.160 --> 00:05:07.390 align:start position:0% it's essentially ver is a state proposal and<00:05:04.919> it's<00:05:05.199> only<00:05:05.840> them<00:05:06.240> who<00:05:06.400> can<00:05:06.600> challenge 00:05:07.390 --> 00:05:07.400 align:start position:0% and it's only them who can challenge 00:05:07.400 --> 00:05:09.029 align:start position:0% and it's only them who can challenge themselves 00:05:09.029 --> 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Security<00:05:19.199> Council 00:05:19.550 --> 00:05:19.560 align:start position:0% security Council Security Council 00:05:19.560 --> 00:05:22.029 align:start position:0% security Council Security Council essentially<00:05:19.919> is<00:05:20.000> a<00:05:20.360> multisig<00:05:21.360> that<00:05:21.600> consists 00:05:22.029 --> 00:05:22.039 align:start position:0% essentially is a multisig that consists 00:05:22.039 --> 00:05:24.309 align:start position:0% essentially is a multisig that consists of<00:05:22.240> at<00:05:22.400> least<00:05:23.039> eight<00:05:23.360> participants<00:05:24.120> and 00:05:24.309 --> 00:05:24.319 align:start position:0% of at least eight participants and 00:05:24.319 --> 00:05:27.830 align:start position:0% of at least eight participants and require<00:05:25.280> 75%<00:05:26.280> consensus<00:05:26.840> threshold<00:05:27.400> so<00:05:27.720> you 00:05:27.830 --> 00:05:27.840 align:start position:0% require 75% consensus threshold so you 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it's not about 00:05:34.080 --> 00:05:36.790 align:start position:0% be important but you know it's not about that<00:05:34.680> right<00:05:34.919> it's<00:05:35.160> about<00:05:35.560> the<00:05:35.840> fact<00:05:36.479> that<00:05:36.639> we 00:05:36.790 --> 00:05:36.800 align:start position:0% that right it's about the fact that we 00:05:36.800 --> 00:05:38.830 align:start position:0% that right it's about the fact that we want<00:05:37.240> the<00:05:37.400> participants<00:05:38.160> to<00:05:38.319> be 00:05:38.830 --> 00:05:38.840 align:start position:0% want the participants to be 00:05:38.840 --> 00:05:40.749 align:start position:0% want the participants to be geographically<00:05:39.600> decentralized<00:05:40.440> you<00:05:40.560> might 00:05:40.749 --> 00:05:40.759 align:start position:0% geographically decentralized you might 00:05:40.759 --> 00:05:42.670 align:start position:0% geographically decentralized you might have<00:05:40.919> heard<00:05:41.280> yesterday<00:05:41.720> you<00:05:41.840> know<00:05:42.199> an<00:05:42.319> amazing 00:05:42.670 --> 00:05:42.680 align:start position:0% have heard yesterday you know an amazing 00:05:42.680 --> 00:05:45.110 align:start position:0% have heard yesterday you know an amazing field<00:05:43.039> d<00:05:43.680> uh<00:05:43.960> presentation<00:05:44.560> about<00:05:44.840> you<00:05:44.919> know 00:05:45.110 --> 00:05:45.120 align:start position:0% field d uh presentation about you know 00:05:45.120 --> 00:05:48.870 align:start position:0% field d uh presentation about you know the<00:05:45.280> need<00:05:46.160> for<00:05:46.759> uh<00:05:46.919> Geo<00:05:47.919> diversification 00:05:48.870 --> 00:05:48.880 align:start position:0% the need for uh Geo diversification 00:05:48.880 --> 00:05:51.670 align:start position:0% the need for uh Geo diversification that's<00:05:49.080> what<00:05:49.199> we<00:05:49.520> want<00:05:50.520> uh<00:05:50.639> from<00:05:51.199> these 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align:start position:0% from different companies and different jurisdictions 00:06:00.430 --> 00:06:00.440 align:start position:0% jurisdictions 00:06:00.440 --> 00:06:01.990 align:start position:0% jurisdictions uh<00:06:00.680> that's<00:06:00.880> super<00:06:01.160> important<00:06:01.680> I'm<00:06:01.800> going<00:06:01.880> to 00:06:01.990 --> 00:06:02.000 align:start position:0% uh that's super important I'm going to 00:06:02.000 --> 00:06:04.510 align:start position:0% uh that's super important I'm going to show<00:06:02.199> you<00:06:02.360> some<00:06:02.560> examples<00:06:03.039> like<00:06:03.360> why<00:06:04.160> uh 00:06:04.510 --> 00:06:04.520 align:start position:0% show you some examples like why uh 00:06:04.520 --> 00:06:06.430 align:start position:0% show you some examples like why uh however<00:06:04.880> think<00:06:05.039> about<00:06:05.360> the<00:06:05.840> U<00:06:06.039> security 00:06:06.430 --> 00:06:06.440 align:start position:0% however think about the U security 00:06:06.440 --> 00:06:09.110 align:start position:0% however think about the U security councils<00:06:07.199> as<00:06:07.360> those<00:06:07.759> supercharged<00:06:08.440> multi6 00:06:09.110 --> 00:06:09.120 align:start position:0% councils as those supercharged multi6 00:06:09.120 --> 00:06:10.350 align:start position:0% councils as those supercharged multi6 right<00:06:09.280> there's<00:06:09.440> a<00:06:09.599> very<00:06:09.840> very<00:06:10.000> important 00:06:10.350 --> 00:06:10.360 align:start position:0% right there's a very very important 00:06:10.360 --> 00:06:14.270 align:start position:0% right there's a very very important social<00:06:10.680> lar<00:06:11.520> uh<00:06:11.680> behind<00:06:12.319> them<00:06:13.319> so<00:06:13.800> this<00:06:13.919> is<00:06:14.120> the 00:06:14.270 --> 00:06:14.280 align:start position:0% social lar uh behind them so this is the 00:06:14.280 --> 00:06:17.589 align:start position:0% social lar uh behind them so this is the current<00:06:14.680> state<00:06:15.440> of<00:06:15.720> things<00:06:16.720> and<00:06:17.000> again<00:06:17.440> you 00:06:17.589 --> 00:06:17.599 align:start position:0% current state of things and again you 00:06:17.599 --> 00:06:20.350 align:start position:0% current state of things and again you know<00:06:18.000> it's<00:06:18.240> very<00:06:18.520> very<00:06:18.840> bad<00:06:19.840> we<00:06:19.960> only<00:06:20.160> have 00:06:20.350 --> 00:06:20.360 align:start position:0% know it's very very bad we only have 00:06:20.360 --> 00:06:23.469 align:start position:0% know it's very very bad we only have Security<00:06:20.759> councils<00:06:21.319> in<00:06:21.599> arbitrum<00:06:22.479> optimism 00:06:23.469 --> 00:06:23.479 align:start position:0% Security councils in arbitrum optimism 00:06:23.479 --> 00:06:27.510 align:start position:0% Security councils in arbitrum optimism uh<00:06:23.720> polygon<00:06:24.560> ZK<00:06:25.000> sync<00:06:25.880> and<00:06:26.520> I<00:06:26.639> know<00:06:26.919> that<00:06:27.120> Stark 00:06:27.510 --> 00:06:27.520 align:start position:0% uh polygon ZK sync and I know that Stark 00:06:27.520 --> 00:06:31.390 align:start position:0% uh polygon ZK sync and I know that Stark net<00:06:28.080> uh<00:06:28.280> scroll<00:06:29.280> uh<00:06:29.800> interestingly<00:06:30.400> fuel<00:06:31.240> uh 00:06:31.390 --> 00:06:31.400 align:start position:0% net uh scroll uh interestingly fuel uh 00:06:31.400 --> 00:06:34.150 align:start position:0% net uh scroll uh interestingly fuel uh is<00:06:31.560> launching<00:06:32.160> with<00:06:32.720> uh<00:06:32.840> a<00:06:33.000> security<00:06:33.400> Council 00:06:34.150 --> 00:06:34.160 align:start position:0% is launching with uh a security Council 00:06:34.160 --> 00:06:36.790 align:start position:0% is launching with uh a security Council everybody<00:06:34.680> else<00:06:35.400> is<00:06:35.639> essentially<00:06:36.400> a<00:06:36.560> very 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between uh these multi 00:06:46.360 --> 00:06:50.990 align:start position:0% the difference between uh these multi and<00:06:46.880> and<00:06:47.120> simple<00:06:47.680> EAS<00:06:48.680> so<00:06:49.560> uh<00:06:50.000> the 00:06:50.990 --> 00:06:51.000 align:start position:0% and and simple EAS so uh the 00:06:51.000 --> 00:06:54.629 align:start position:0% and and simple EAS so uh the third<00:06:52.000> big<00:06:52.680> item<00:06:53.080> that<00:06:53.280> we<00:06:53.560> I<00:06:53.720> think<00:06:53.919> did<00:06:54.199> wrong 00:06:54.629 --> 00:06:54.639 align:start position:0% third big item that we I think did wrong 00:06:54.639 --> 00:06:57.830 align:start position:0% third big item that we I think did wrong is<00:06:54.960> that<00:06:55.319> most<00:06:55.879> all<00:06:56.199> theas<00:06:56.800> meaning<00:06:57.160> non 00:06:57.830 --> 00:06:57.840 align:start position:0% is that most all theas meaning non 00:06:57.840 --> 00:07:01.390 align:start position:0% is that most all theas meaning non rollups<00:06:58.840> uh<00:06:59.000> are<00:06:59.160> set<00:06:59.360> up<00:06:59.759> with<00:07:00.160> abysmal<00:07:00.960> da 00:07:01.390 --> 00:07:01.400 align:start position:0% rollups uh are set up with abysmal da 00:07:01.400 --> 00:07:03.430 align:start position:0% rollups uh are set up with abysmal da trust<00:07:01.720> assumptions<00:07:02.319> and<00:07:02.520> I<00:07:02.840> use<00:07:03.120> the<00:07:03.199> word 00:07:03.430 --> 00:07:03.440 align:start position:0% trust assumptions and I use the word 00:07:03.440 --> 00:07:05.270 align:start position:0% trust assumptions and I use the word abysmal<00:07:04.080> a<00:07:04.280> because<00:07:04.479> I<00:07:04.639> like<00:07:04.759> it<00:07:04.879> and<00:07:05.080> B 00:07:05.270 --> 00:07:05.280 align:start position:0% abysmal a because I like it and B 00:07:05.280 --> 00:07:08.909 align:start position:0% abysmal a because I like it and B because<00:07:05.440> it's<00:07:05.639> really<00:07:05.879> really<00:07:06.319> bad<00:07:07.520> uh<00:07:08.520> like 00:07:08.909 --> 00:07:08.919 align:start position:0% because it's really really bad uh like 00:07:08.919 --> 00:07:10.749 align:start position:0% because it's really really bad uh like look<00:07:09.120> at<00:07:09.360> these<00:07:09.680> guys<00:07:09.879> on<00:07:10.039> the<00:07:10.199> left<00:07:10.520> there<00:07:10.599> are 00:07:10.749 --> 00:07:10.759 align:start position:0% look at these guys on the left there are 00:07:10.759 --> 00:07:15.029 align:start position:0% look at these guys on the left there are few<00:07:11.000> examples<00:07:11.960> again<00:07:12.599> arbitrum<00:07:13.800> ver<00:07:14.800> ver 00:07:15.029 --> 00:07:15.039 align:start position:0% few examples again arbitrum ver ver 00:07:15.039 --> 00:07:17.710 align:start position:0% few examples again arbitrum ver ver immutable<00:07:15.479> X<00:07:16.400> however<00:07:16.960> almost<00:07:17.280> everybody 00:07:17.710 --> 00:07:17.720 align:start position:0% immutable X however almost everybody 00:07:17.720 --> 00:07:20.790 align:start position:0% immutable X however almost everybody else<00:07:18.000> is<00:07:18.199> like<00:07:18.440> literally<00:07:19.000> posting<00:07:19.479> da<00:07:20.280> to 00:07:20.790 --> 00:07:20.800 align:start position:0% else is like literally posting da to 00:07:20.800 --> 00:07:23.430 align:start position:0% else is like literally posting da to their<00:07:21.560> server<00:07:22.039> in<00:07:22.160> the<00:07:22.280> basement<00:07:22.759> or<00:07:22.919> whatever 00:07:23.430 --> 00:07:23.440 align:start position:0% their server in the basement or whatever 00:07:23.440 --> 00:07:25.830 align:start position:0% their server in the basement or whatever I<00:07:23.560> mean<00:07:23.720> we<00:07:23.840> have<00:07:24.080> no<00:07:24.400> idea<00:07:25.039> we<00:07:25.199> have<00:07:25.440> literally 00:07:25.830 --> 00:07:25.840 align:start position:0% I mean we have no idea we have literally 00:07:25.840 --> 00:07:29.070 align:start position:0% I mean we have no idea we have literally no<00:07:26.080> idea<00:07:26.759> point<00:07:27.080> is<00:07:28.080> they're<00:07:28.319> really<00:07:28.639> bad<00:07:28.960> and 00:07:29.070 --> 00:07:29.080 align:start position:0% no idea point is they're really bad and 00:07:29.080 --> 00:07:31.790 align:start position:0% no idea point is they're really bad and they<00:07:29.199> don't<00:07:29.560> seem<00:07:29.680> to<00:07:29.919> care<00:07:30.199> so<00:07:30.440> much<00:07:31.120> so<00:07:31.479> maybe 00:07:31.790 --> 00:07:31.800 align:start position:0% they don't seem to care so much so maybe 00:07:31.800 --> 00:07:33.909 align:start position:0% they don't seem to care so much so maybe users<00:07:32.199> don't<00:07:32.479> care<00:07:32.840> we<00:07:32.960> don't<00:07:33.280> know<00:07:33.680> but<00:07:33.800> you 00:07:33.909 --> 00:07:33.919 align:start position:0% users don't care we don't know but you 00:07:33.919 --> 00:07:37.029 align:start position:0% users don't care we don't know but you know<00:07:34.080> we<00:07:34.240> need<00:07:34.400> to<00:07:34.800> really<00:07:35.800> uh<00:07:36.080> look<00:07:36.319> at<00:07:36.560> these 00:07:37.029 --> 00:07:37.039 align:start position:0% know we need to really uh look at these 00:07:37.039 --> 00:07:41.589 align:start position:0% know we need to really uh look at these that<00:07:37.280> data<00:07:37.840> and<00:07:38.479> tell<00:07:38.879> everybody<00:07:39.440> hey<00:07:40.599> uh 00:07:41.589 --> 00:07:41.599 align:start position:0% that data and tell everybody hey uh 00:07:41.599 --> 00:07:43.189 align:start position:0% that data and tell everybody hey uh that's<00:07:41.800> not<00:07:42.000> data<00:07:42.199> availability<00:07:42.639> committee 00:07:43.189 --> 00:07:43.199 align:start position:0% that's not data availability committee 00:07:43.199 --> 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arbitrum<00:07:50.960> but<00:07:51.120> that 00:07:51.270 --> 00:07:51.280 align:start position:0% implementations and by arbitrum but that 00:07:51.280 --> 00:07:53.990 align:start position:0% implementations and by arbitrum but that was<00:07:51.440> not<00:07:51.680> the<00:07:51.879> point<00:07:52.240> that<00:07:52.440> you<00:07:52.800> can<00:07:53.479> like<00:07:53.680> say 00:07:53.990 --> 00:07:54.000 align:start position:0% was not the point that you can like say 00:07:54.000 --> 00:07:55.869 align:start position:0% was not the point that you can like say hey<00:07:54.240> I've<00:07:54.360> got<00:07:54.520> a<00:07:54.680> one<00:07:54.879> survey<00:07:55.280> in<00:07:55.360> my<00:07:55.520> basement 00:07:55.869 --> 00:07:55.879 align:start position:0% hey I've got a one survey in my basement 00:07:55.879 --> 00:07:57.550 align:start position:0% hey I've got a one survey in my basement I<00:07:56.000> can<00:07:56.240> like<00:07:56.440> call<00:07:56.639> it<00:07:56.879> data<00:07:57.159> availity 00:07:57.550 --> 00:07:57.560 align:start position:0% I can like call it data availity 00:07:57.560 --> 00:08:00.189 align:start position:0% I can like call it data availity committee<00:07:57.960> that's<00:07:58.680> not<00:07:59.000> what<00:07:59.280> was<00:07:59.919> uh<00:08:00.039> the 00:08:00.189 --> 00:08:00.199 align:start position:0% committee that's not what was uh the 00:08:00.199 --> 00:08:02.909 align:start position:0% committee that's not what was uh the point<00:08:00.440> of<00:08:00.639> all<00:08:00.800> that<00:08:01.039> exercise<00:08:01.639> so<00:08:02.440> all 00:08:02.909 --> 00:08:02.919 align:start position:0% point of all that exercise so all 00:08:02.919 --> 00:08:05.670 align:start position:0% point of all that exercise so all together<00:08:03.919> I'm<00:08:04.080> sorry<00:08:04.319> to<00:08:04.520> say<00:08:04.800> that<00:08:05.120> but<00:08:05.520> at 00:08:05.670 --> 00:08:05.680 align:start position:0% together I'm sorry to say that but at 00:08:05.680 --> 00:08:09.950 align:start position:0% together I'm sorry to say that but at the<00:08:06.319> moment<00:08:07.319> uh<00:08:08.080> in<00:08:08.360> most<00:08:08.720> l2s<00:08:09.479> permissioned 00:08:09.950 --> 00:08:09.960 align:start position:0% the moment uh in most l2s permissioned 00:08:09.960 --> 00:08:12.469 align:start position:0% the moment uh in most l2s permissioned operators<00:08:10.400> can<00:08:10.520> steal<00:08:10.919> or<00:08:11.159> freeze<00:08:11.440> your<00:08:11.680> funds 00:08:12.469 --> 00:08:12.479 align:start position:0% operators can steal or freeze your funds 00:08:12.479 --> 00:08:15.469 align:start position:0% operators can steal or freeze your funds and<00:08:12.639> we're<00:08:12.960> here<00:08:13.560> really<00:08:14.120> to<00:08:14.560> hey<00:08:15.120> make<00:08:15.319> you 00:08:15.469 --> 00:08:15.479 align:start position:0% and we're here really to hey make you 00:08:15.479 --> 00:08:18.189 align:start position:0% and we're here really to hey make you all<00:08:15.599> aware<00:08:15.879> of<00:08:16.080> that<00:08:16.599> sorry<00:08:16.879> to<00:08:17.039> say<00:08:17.319> that<00:08:18.039> but 00:08:18.189 --> 00:08:18.199 align:start position:0% all aware of that sorry to say that but 00:08:18.199 --> 00:08:23.149 align:start position:0% all aware of that sorry to say that but we<00:08:18.360> need<00:08:18.560> to<00:08:18.759> change<00:08:19.360> the<00:08:19.599> tud<00:08:20.680> right<00:08:21.680> so<00:08:22.599> uh 00:08:23.149 --> 00:08:23.159 align:start position:0% we need to change the tud right so uh 00:08:23.159 --> 00:08:25.629 align:start position:0% we need to change the tud right so uh why<00:08:23.840> should<00:08:24.080> we<00:08:24.280> care<00:08:24.520> about<00:08:24.759> proof<00:08:25.039> systems 00:08:25.629 --> 00:08:25.639 align:start position:0% why should we care about proof systems 00:08:25.639 --> 00:08:27.749 align:start position:0% why should we care about proof systems there<00:08:25.759> are<00:08:25.960> at<00:08:26.120> least<00:08:26.680> three<00:08:27.039> good<00:08:27.280> reasons<00:08:27.639> in 00:08:27.749 --> 00:08:27.759 align:start position:0% there are at least three good reasons in 00:08:27.759 --> 00:08:30.749 align:start position:0% there are at least three good reasons in our<00:08:28.039> opinion<00:08:28.599> why<00:08:28.800> should<00:08:29.039> we<00:08:29.560> all<00:08:30.000> have<00:08:30.120> a 00:08:30.749 --> 00:08:30.759 align:start position:0% our opinion why should we all have a 00:08:30.759 --> 00:08:34.709 align:start position:0% our opinion why should we all have a working<00:08:31.240> proof<00:08:31.719> system<00:08:32.719> one<00:08:33.680> is<00:08:33.880> that<00:08:34.519> that 00:08:34.709 --> 00:08:34.719 align:start position:0% working proof system one is that that 00:08:34.719 --> 00:08:36.029 align:start position:0% working proof system one is that that actually<00:08:34.919> allows<00:08:35.159> you<00:08:35.279> for<00:08:35.440> permissionless 00:08:36.029 --> 00:08:36.039 align:start position:0% actually allows you for permissionless 00:08:36.039 --> 00:08:38.990 align:start position:0% actually allows you for permissionless exit<00:08:36.719> in<00:08:36.919> case<00:08:37.240> all<00:08:37.519> the<00:08:37.640> operators<00:08:38.159> are<00:08:38.440> down 00:08:38.990 --> 00:08:39.000 align:start position:0% exit in case all the operators are down 00:08:39.000 --> 00:08:41.110 align:start position:0% exit in case all the operators are down and<00:08:39.159> they<00:08:39.320> may<00:08:39.479> be<00:08:39.680> down<00:08:39.880> for<00:08:40.080> whatever<00:08:40.440> reason 00:08:41.110 --> 00:08:41.120 align:start position:0% and they may be down for whatever reason 00:08:41.120 --> 00:08:44.230 align:start position:0% and they may be down for whatever reason we<00:08:41.279> had<00:08:41.560> uh<00:08:41.880> quite<00:08:42.200> recently<00:08:42.919> a<00:08:43.120> case<00:08:43.360> of<00:08:43.519> dydx 00:08:44.230 --> 00:08:44.240 align:start position:0% we had uh quite recently a case of dydx 00:08:44.240 --> 00:08:47.230 align:start position:0% we had uh quite recently a case of dydx going<00:08:44.600> down<00:08:45.240> they<00:08:45.399> have<00:08:45.560> warned<00:08:46.040> the<00:08:46.160> users<00:08:47.160> uh 00:08:47.230 --> 00:08:47.240 align:start position:0% going down they have warned the users uh 00:08:47.240 --> 00:08:49.949 align:start position:0% going down they have warned the users uh a<00:08:47.360> lot<00:08:47.480> of<00:08:47.600> users<00:08:47.959> didn't<00:08:48.440> exit<00:08:49.440> however<00:08:49.880> if 00:08:49.949 --> 00:08:49.959 align:start position:0% a lot of users didn't exit however if 00:08:49.959 --> 00:08:52.230 align:start position:0% a lot of users didn't exit however if you<00:08:50.080> do<00:08:50.279> have<00:08:50.440> a<00:08:50.880> uh<00:08:51.040> proof<00:08:51.399> system<00:08:51.880> you<00:08:52.040> can 00:08:52.230 --> 00:08:52.240 align:start position:0% you do have a uh proof system you can 00:08:52.240 --> 00:08:54.230 align:start position:0% you do have a uh proof system you can make<00:08:52.480> the<00:08:52.680> system<00:08:53.000> so<00:08:53.399> that<00:08:54.000> in<00:08:54.080> a 00:08:54.230 --> 00:08:54.240 align:start position:0% make the system so that in a 00:08:54.240 --> 00:08:55.829 align:start position:0% make the system so that in a permissionless<00:08:54.920> way<00:08:55.200> someone's<00:08:55.600> going<00:08:55.680> to 00:08:55.829 --> 00:08:55.839 align:start position:0% permissionless way someone's going to 00:08:55.839 --> 00:08:57.590 align:start position:0% permissionless way someone's going to take<00:08:56.040> over<00:08:56.399> or<00:08:56.519> you<00:08:56.600> can<00:08:56.760> build<00:08:56.959> an<00:08:57.200> escape 00:08:57.590 --> 00:08:57.600 align:start position:0% take over or you can build an escape 00:08:57.600 --> 00:09:00.150 align:start position:0% take over or you can build an escape hatch<00:08:58.360> users<00:08:58.880> will<00:08:59.079> be<00:08:59.240> a<00:08:59.480> able<00:08:59.680> to<00:08:59.839> get<00:09:00.000> their 00:09:00.150 --> 00:09:00.160 align:start position:0% hatch users will be a able to get their 00:09:00.160 --> 00:09:03.470 align:start position:0% hatch users will be a able to get their funds<00:09:00.640> out<00:09:01.640> that's<00:09:01.880> super<00:09:02.360> important<00:09:03.360> uh 00:09:03.470 --> 00:09:03.480 align:start position:0% funds out that's super important uh 00:09:03.480 --> 00:09:04.870 align:start position:0% funds out that's super important uh without<00:09:03.680> the<00:09:03.800> proof<00:09:04.040> system<00:09:04.240> you<00:09:04.399> just<00:09:04.560> simply 00:09:04.870 --> 00:09:04.880 align:start position:0% without the proof system you just simply 00:09:04.880 --> 00:09:08.949 align:start position:0% without the proof system you just simply cannot<00:09:05.240> do<00:09:05.480> that<00:09:05.760> it's<00:09:06.440> impossible<00:09:07.440> then 00:09:08.949 --> 00:09:08.959 align:start position:0% cannot do that it's impossible then 00:09:08.959 --> 00:09:11.190 align:start position:0% cannot do that it's impossible then uh<00:09:09.959> the<00:09:10.120> second<00:09:10.440> one<00:09:10.640> is<00:09:10.800> that<00:09:10.920> you<00:09:11.079> can 00:09:11.190 --> 00:09:11.200 align:start position:0% uh the second one is that you can 00:09:11.200 --> 00:09:13.350 align:start position:0% uh the second one is that you can actually<00:09:11.680> improve<00:09:12.680> on<00:09:12.880> the<00:09:13.040> trust 00:09:13.350 --> 00:09:13.360 align:start position:0% actually improve on the trust 00:09:13.360 --> 00:09:15.030 align:start position:0% actually improve on the trust assumptions<00:09:13.760> of<00:09:13.920> the<00:09:14.079> security<00:09:14.480> Council 00:09:15.030 --> 00:09:15.040 align:start position:0% assumptions of the security Council 00:09:15.040 --> 00:09:17.550 align:start position:0% assumptions of the security Council that's<00:09:15.279> assuming<00:09:15.959> of<00:09:16.120> course<00:09:16.480> you<00:09:16.760> have<00:09:16.959> one 00:09:17.550 --> 00:09:17.560 align:start position:0% that's assuming of course you have one 00:09:17.560 --> 00:09:19.069 align:start position:0% that's assuming of course you have one and<00:09:17.680> the<00:09:17.800> reason<00:09:18.079> for<00:09:18.279> that<00:09:18.480> this<00:09:18.600> is<00:09:18.760> quite 00:09:19.069 --> 00:09:19.079 align:start position:0% and the reason for that this is quite 00:09:19.079 --> 00:09:23.670 align:start position:0% and the reason for that this is quite Nuance<00:09:20.079> uh<00:09:20.560> however<00:09:21.480> what<00:09:22.160> uh<00:09:22.279> you<00:09:22.519> can<00:09:22.760> do<00:09:23.079> now 00:09:23.670 --> 00:09:23.680 align:start position:0% Nuance uh however what uh you can do now 00:09:23.680 --> 00:09:25.389 align:start position:0% Nuance uh however what uh you can do now is<00:09:23.880> that<00:09:24.120> instead<00:09:24.399> of<00:09:24.640> situation<00:09:25.160> when<00:09:25.279> the 00:09:25.389 --> 00:09:25.399 align:start position:0% is that instead of situation when the 00:09:25.399 --> 00:09:27.269 align:start position:0% is that instead of situation when the malicious<00:09:25.959> proposer<00:09:26.600> and<00:09:26.720> this<00:09:26.839> is<00:09:27.000> like<00:09:27.120> the 00:09:27.269 --> 00:09:27.279 align:start position:0% malicious proposer and this is like the 00:09:27.279 --> 00:09:28.750 align:start position:0% malicious proposer and this is like the diagram<00:09:27.720> showing<00:09:28.120> the<00:09:28.279> the<00:09:28.399> vanilla 00:09:28.750 --> 00:09:28.760 align:start position:0% diagram showing the the vanilla 00:09:28.760 --> 00:09:30.949 align:start position:0% diagram showing the the vanilla optimistic<00:09:29.600> up<00:09:29.800> without<00:09:29.959> the<00:09:30.120> proof<00:09:30.399> system 00:09:30.949 --> 00:09:30.959 align:start position:0% optimistic up without the proof system 00:09:30.959 --> 00:09:32.910 align:start position:0% optimistic up without the proof system which<00:09:31.079> you<00:09:31.160> can<00:09:31.320> see<00:09:31.519> in<00:09:31.880> a<00:09:32.000> lot<00:09:32.120> of<00:09:32.240> op<00:09:32.560> stxs 00:09:32.910 --> 00:09:32.920 align:start position:0% which you can see in a lot of op stxs 00:09:32.920 --> 00:09:35.630 align:start position:0% which you can see in a lot of op stxs today<00:09:33.680> there's<00:09:33.959> a<00:09:34.720> let's<00:09:34.920> say<00:09:35.120> very<00:09:35.440> strong 00:09:35.630 --> 00:09:35.640 align:start position:0% today there's a let's say very strong 00:09:35.640 --> 00:09:37.990 align:start position:0% today there's a let's say very strong multis<00:09:36.320> that<00:09:36.440> can<00:09:36.560> override<00:09:36.959> the<00:09:37.040> state<00:09:37.360> root 00:09:37.990 --> 00:09:38.000 align:start position:0% multis that can override the state root 00:09:38.000 --> 00:09:39.710 align:start position:0% multis that can override the state root and<00:09:38.160> there's<00:09:38.440> a<00:09:38.600> proposer<00:09:39.079> that<00:09:39.240> proposes 00:09:39.710 --> 00:09:39.720 align:start position:0% and there's a proposer that proposes 00:09:39.720 --> 00:09:41.630 align:start position:0% and there's a proposer that proposes State<00:09:40.000> rot<00:09:40.440> so<00:09:40.640> if<00:09:40.839> that<00:09:41.079> proposal<00:09:41.519> is 00:09:41.630 --> 00:09:41.640 align:start position:0% State rot so if that proposal is 00:09:41.640 --> 00:09:44.190 align:start position:0% State rot so if that proposal is malicious<00:09:42.640> all<00:09:42.800> they<00:09:42.959> need<00:09:43.160> to<00:09:43.360> do<00:09:43.760> is<00:09:43.920> to 00:09:44.190 --> 00:09:44.200 align:start position:0% malicious all they need to do is to 00:09:44.200 --> 00:09:47.910 align:start position:0% malicious all they need to do is to bribe<00:09:45.079> to<00:09:46.079> members<00:09:46.600> of<00:09:46.760> the<00:09:46.920> security<00:09:47.399> Council 00:09:47.910 --> 00:09:47.920 align:start position:0% bribe to members of the security Council 00:09:47.920 --> 00:09:50.030 align:start position:0% bribe to members of the security Council to<00:09:48.160> look<00:09:48.480> away<00:09:49.279> not<00:09:49.399> to<00:09:49.560> do<00:09:49.760> anything 00:09:50.030 --> 00:09:50.040 align:start position:0% to look away not to do anything 00:09:50.040 --> 00:09:53.230 align:start position:0% to look away not to do anything malicious<00:09:50.839> to<00:09:51.040> just<00:09:51.399> simply<00:09:52.399> don't<00:09:52.760> do 00:09:53.230 --> 00:09:53.240 align:start position:0% malicious to just simply don't do 00:09:53.240 --> 00:09:55.710 align:start position:0% malicious to just simply don't do anything<00:09:54.240> in<00:09:54.480> which<00:09:54.720> case<00:09:55.040> the<00:09:55.240> malicious 00:09:55.710 --> 00:09:55.720 align:start position:0% anything in which case the malicious 00:09:55.720 --> 00:09:58.389 align:start position:0% anything in which case the malicious proposer<00:09:56.320> will<00:09:56.720> actually<00:09:57.120> go<00:09:57.560> through<00:09:58.279> and 00:09:58.389 --> 00:09:58.399 align:start position:0% proposer will actually go through and 00:09:58.399 --> 00:10:01.069 align:start position:0% proposer will actually go through and they<00:09:58.519> will<00:09:58.640> steal<00:09:58.959> the<00:09:59.040> fund<00:09:59.680> right<00:10:00.640> now<00:10:00.880> once 00:10:01.069 --> 00:10:01.079 align:start position:0% they will steal the fund right now once 00:10:01.079 --> 00:10:03.190 align:start position:0% they will steal the fund right now once you<00:10:01.200> introduce<00:10:01.600> the<00:10:01.720> proof<00:10:02.000> system<00:10:02.720> situation 00:10:03.190 --> 00:10:03.200 align:start position:0% you introduce the proof system situation 00:10:03.200 --> 00:10:06.030 align:start position:0% you introduce the proof system situation is<00:10:03.519> much<00:10:03.800> much<00:10:04.160> harder<00:10:05.160> for<00:10:05.320> the<00:10:05.480> proposer 00:10:06.030 --> 00:10:06.040 align:start position:0% is much much harder for the proposer 00:10:06.040 --> 00:10:07.750 align:start position:0% is much much harder for the proposer because<00:10:06.360> now<00:10:06.680> they<00:10:06.800> need<00:10:06.959> to<00:10:07.120> bribe<00:10:07.560> the 00:10:07.750 --> 00:10:07.760 align:start position:0% because now they need to bribe the 00:10:07.760 --> 00:10:10.509 align:start position:0% because now they need to bribe the majority<00:10:08.399> of<00:10:08.560> the<00:10:08.720> security<00:10:09.320> Council<00:10:10.320> not 00:10:10.509 --> 00:10:10.519 align:start position:0% majority of the security Council not 00:10:10.519 --> 00:10:12.310 align:start position:0% majority of the security Council not only<00:10:10.800> they<00:10:10.959> have<00:10:11.079> to<00:10:11.320> bribe<00:10:11.680> majority<00:10:12.160> they 00:10:12.310 --> 00:10:12.320 align:start position:0% only they have to bribe majority they 00:10:12.320 --> 00:10:13.990 align:start position:0% only they have to bribe majority they have<00:10:12.440> to<00:10:12.640> actually<00:10:13.079> make<00:10:13.360> them<00:10:13.560> do<00:10:13.720> something 00:10:13.990 --> 00:10:14.000 align:start position:0% have to actually make them do something 00:10:14.000 --> 00:10:16.230 align:start position:0% have to actually make them do something malicious<00:10:14.600> and<00:10:14.720> not<00:10:14.880> just<00:10:15.040> simply<00:10:15.360> look<00:10:15.600> away 00:10:16.230 --> 00:10:16.240 align:start position:0% malicious and not just simply look away 00:10:16.240 --> 00:10:18.910 align:start position:0% malicious and not just simply look away that's<00:10:16.399> a<00:10:16.680> very<00:10:16.959> very<00:10:17.240> different<00:10:17.920> proposition 00:10:18.910 --> 00:10:18.920 align:start position:0% that's a very very different proposition 00:10:18.920 --> 00:10:21.310 align:start position:0% that's a very very different proposition to<00:10:19.120> make<00:10:19.320> someone<00:10:19.680> look<00:10:19.880> away<00:10:20.320> is<00:10:20.440> to<00:10:20.680> say<00:10:21.079> hey 00:10:21.310 --> 00:10:21.320 align:start position:0% to make someone look away is to say hey 00:10:21.320 --> 00:10:23.550 align:start position:0% to make someone look away is to say hey if<00:10:21.440> I<00:10:21.600> give<00:10:21.760> you<00:10:22.160> you<00:10:22.279> know<00:10:22.399> $10<00:10:22.720> million<00:10:23.360> you 00:10:23.550 --> 00:10:23.560 align:start position:0% if I give you you know $10 million you 00:10:23.560 --> 00:10:25.590 align:start position:0% if I give you you know $10 million you just<00:10:23.800> you<00:10:23.920> know<00:10:24.040> lose<00:10:24.279> your<00:10:24.440> keys<00:10:24.959> right<00:10:25.240> or<00:10:25.480> go 00:10:25.590 --> 00:10:25.600 align:start position:0% just you know lose your keys right or go 00:10:25.600 --> 00:10:28.949 align:start position:0% just you know lose your keys right or go for<00:10:25.760> a<00:10:25.880> long<00:10:26.440> international<00:10:27.240> flight<00:10:28.240> if<00:10:28.399> you 00:10:28.949 --> 00:10:28.959 align:start position:0% for a long international flight if you 00:10:28.959 --> 00:10:31.710 align:start position:0% for a long international flight if you want<00:10:29.399> to<00:10:30.160> make<00:10:30.399> someone<00:10:31.079> do<00:10:31.399> something 00:10:31.710 --> 00:10:31.720 align:start position:0% want to make someone do something 00:10:31.720 --> 00:10:33.590 align:start position:0% want to make someone do something malicious<00:10:32.360> that's<00:10:32.519> an<00:10:32.760> entirely<00:10:33.279> different 00:10:33.590 --> 00:10:33.600 align:start position:0% malicious that's an entirely different 00:10:33.600 --> 00:10:35.670 align:start position:0% malicious that's an entirely different proposition<00:10:34.120> so<00:10:34.279> we<00:10:34.480> think<00:10:35.040> that<00:10:35.240> this 00:10:35.670 --> 00:10:35.680 align:start position:0% proposition so we think that this 00:10:35.680 --> 00:10:37.590 align:start position:0% proposition so we think that this changes<00:10:36.680> especially<00:10:37.079> with<00:10:37.200> the<00:10:37.360> public 00:10:37.590 --> 00:10:37.600 align:start position:0% changes especially with the public 00:10:37.600 --> 00:10:41.509 align:start position:0% changes especially with the public Security<00:10:38.000> Council<00:10:38.920> uh<00:10:39.639> trust<00:10:40.000> assumptions 00:10:41.509 --> 00:10:41.519 align:start position:0% Security Council uh trust assumptions 00:10:41.519 --> 00:10:45.030 align:start position:0% Security Council uh trust assumptions fundamentally<00:10:42.519> finally<00:10:43.320> proof<00:10:43.639> systems<00:10:44.560> uh 00:10:45.030 --> 00:10:45.040 align:start position:0% fundamentally finally proof systems uh 00:10:45.040 --> 00:10:47.150 align:start position:0% fundamentally finally proof systems uh uh<00:10:45.200> if<00:10:45.399> you're<00:10:45.720> stage<00:10:46.040> two<00:10:46.639> allow<00:10:46.880> you<00:10:47.000> to 00:10:47.150 --> 00:10:47.160 align:start position:0% uh if you're stage two allow you to 00:10:47.160 --> 00:10:49.870 align:start position:0% uh if you're stage two allow you to remove<00:10:47.600> any<00:10:48.079> intermediaries<00:10:49.079> whatsoever<00:10:49.680> you 00:10:49.870 --> 00:10:49.880 align:start position:0% remove any intermediaries whatsoever you 00:10:49.880 --> 00:10:52.990 align:start position:0% remove any intermediaries whatsoever you don't<00:10:50.160> need<00:10:50.360> a<00:10:50.560> security<00:10:51.040> Council<00:10:52.040> uh<00:10:52.560> or<00:10:52.880> if 00:10:52.990 --> 00:10:53.000 align:start position:0% don't need a security Council uh or if 00:10:53.000 --> 00:10:55.670 align:start position:0% don't need a security Council uh or if you<00:10:53.160> do<00:10:53.839> have<00:10:54.000> it<00:10:54.240> you<00:10:54.360> know<00:10:54.560> it's<00:10:54.720> only<00:10:55.040> for 00:10:55.670 --> 00:10:55.680 align:start position:0% you do have it you know it's only for 00:10:55.680 --> 00:10:58.069 align:start position:0% you do have it you know it's only for like<00:10:55.920> emergency<00:10:56.680> situations<00:10:57.360> if<00:10:57.480> you<00:10:57.680> like 00:10:58.069 --> 00:10:58.079 align:start position:0% like emergency situations if you like 00:10:58.079 --> 00:11:00.990 align:start position:0% like emergency situations if you like right<00:10:58.399> so<00:10:59.519> that<00:10:59.680> may<00:10:59.920> have<00:11:00.160> actually<00:11:00.480> profound 00:11:00.990 --> 00:11:01.000 align:start position:0% right so that may have actually profound 00:11:01.000 --> 00:11:04.790 align:start position:0% right so that may have actually profound regularity<00:11:01.880> uh<00:11:02.440> regulatory<00:11:03.560> implications<00:11:04.560> so 00:11:04.790 --> 00:11:04.800 align:start position:0% regularity uh regulatory implications so 00:11:04.800 --> 00:11:07.269 align:start position:0% regularity uh regulatory implications so you<00:11:04.920> may<00:11:05.200> actually<00:11:05.480> want<00:11:05.760> to<00:11:06.000> launch<00:11:06.600> your<00:11:07.079> uh 00:11:07.269 --> 00:11:07.279 align:start position:0% you may actually want to launch your uh 00:11:07.279 --> 00:11:10.230 align:start position:0% you may actually want to launch your uh L2<00:11:08.120> as<00:11:08.240> a<00:11:08.399> stage<00:11:08.680> two<00:11:09.079> system<00:11:09.519> from<00:11:09.720> the<00:11:09.920> very 00:11:10.230 --> 00:11:10.240 align:start position:0% L2 as a stage two system from the very 00:11:10.240 --> 00:11:12.509 align:start position:0% L2 as a stage two system from the very start<00:11:10.720> that's<00:11:11.040> possible<00:11:11.920> uh<00:11:12.040> but<00:11:12.200> of<00:11:12.360> course 00:11:12.509 --> 00:11:12.519 align:start position:0% start that's possible uh but of course 00:11:12.519 --> 00:11:14.629 align:start position:0% start that's possible uh but of course you<00:11:12.639> know<00:11:12.800> you<00:11:12.920> do<00:11:13.079> need<00:11:13.320> a<00:11:13.680> uh<00:11:13.760> to<00:11:13.959> have<00:11:14.320> proof 00:11:14.629 --> 00:11:14.639 align:start position:0% you know you do need a uh to have proof 00:11:14.639 --> 00:11:16.230 align:start position:0% you know you do need a uh to have proof system<00:11:14.959> ideally<00:11:15.440> you<00:11:15.560> might<00:11:15.760> want<00:11:15.920> to<00:11:16.079> have 00:11:16.230 --> 00:11:16.240 align:start position:0% system ideally you might want to have 00:11:16.240 --> 00:11:19.910 align:start position:0% system ideally you might want to have more<00:11:16.399> than<00:11:17.040> one<00:11:18.200> and<00:11:19.200> there<00:11:19.320> are<00:11:19.440> already<00:11:19.720> some 00:11:19.910 --> 00:11:19.920 align:start position:0% more than one and there are already some 00:11:19.920 --> 00:11:22.670 align:start position:0% more than one and there are already some announcements<00:11:20.440> of<00:11:20.720> systems<00:11:21.600> uh<00:11:21.839> doing<00:11:22.240> that 00:11:22.670 --> 00:11:22.680 align:start position:0% announcements of systems uh doing that 00:11:22.680 --> 00:11:24.829 align:start position:0% announcements of systems uh doing that so<00:11:23.160> this<00:11:23.320> is<00:11:23.480> one<00:11:23.600> of<00:11:23.760> the<00:11:24.079> uh<00:11:24.360> the<00:11:24.480> latest 00:11:24.829 --> 00:11:24.839 align:start position:0% so this is one of the uh the latest 00:11:24.839 --> 00:11:27.110 align:start position:0% so this is one of the uh the latest announcement<00:11:25.480> from<00:11:25.800> the<00:11:26.120> ne<00:11:26.480> mine<00:11:26.720> team<00:11:27.040> you 00:11:27.110 --> 00:11:27.120 align:start position:0% announcement from the ne mine team you 00:11:27.120 --> 00:11:29.590 align:start position:0% announcement from the ne mine team you know<00:11:27.279> they<00:11:27.399> will<00:11:27.560> be<00:11:28.160> building<00:11:28.639> a<00:11:28.839> a<00:11:28.920> roll 00:11:29.590 --> 00:11:29.600 align:start position:0% know they will be building a a roll 00:11:29.600 --> 00:11:33.990 align:start position:0% know they will be building a a roll which<00:11:30.360> is<00:11:30.680> intended<00:11:31.240> to<00:11:31.399> be<00:11:31.560> a<00:11:31.760> stage<00:11:32.079> two<00:11:32.360> at 00:11:33.990 --> 00:11:34.000 align:start position:0% which is intended to be a stage two at 00:11:34.000 --> 00:11:38.190 align:start position:0% which is intended to be a stage two at launch<00:11:35.000> so<00:11:35.920> uh<00:11:36.680> again<00:11:37.519> uh<00:11:37.639> that<00:11:37.760> was<00:11:37.880> about<00:11:38.079> the 00:11:38.190 --> 00:11:38.200 align:start position:0% launch so uh again uh that was about the 00:11:38.200 --> 00:11:40.949 align:start position:0% launch so uh again uh that was about the proof<00:11:38.440> system<00:11:39.000> now<00:11:39.560> why<00:11:40.079> security<00:11:40.519> councils 00:11:40.949 --> 00:11:40.959 align:start position:0% proof system now why security councils 00:11:40.959 --> 00:11:44.190 align:start position:0% proof system now why security councils and<00:11:41.160> not<00:11:41.440> just<00:11:41.680> simple<00:11:42.040> multi<00:11:42.480> sees<00:11:43.320> and<00:11:43.760> the 00:11:44.190 --> 00:11:44.200 align:start position:0% and not just simple multi sees and the 00:11:44.200 --> 00:11:45.990 align:start position:0% and not just simple multi sees and the the<00:11:44.399> reason<00:11:44.880> is 00:11:45.990 --> 00:11:46.000 align:start position:0% the reason is 00:11:46.000 --> 00:11:49.710 align:start position:0% the reason is that<00:11:47.000> don't<00:11:47.399> believe<00:11:47.839> multi<00:11:48.680> are<00:11:48.920> multi 00:11:49.710 --> 00:11:49.720 align:start position:0% that don't believe multi are multi 00:11:49.720 --> 00:11:51.949 align:start position:0% that don't believe multi are multi that's<00:11:49.920> the<00:11:50.279> reason<00:11:50.720> unless<00:11:51.399> there's<00:11:51.680> a 00:11:51.949 --> 00:11:51.959 align:start position:0% that's the reason unless there's a 00:11:51.959 --> 00:11:54.829 align:start position:0% that's the reason unless there's a social<00:11:52.880> layer<00:11:53.720> that<00:11:53.920> actually<00:11:54.120> can<00:11:54.360> convince 00:11:54.829 --> 00:11:54.839 align:start position:0% social layer that actually can convince 00:11:54.839 --> 00:11:57.990 align:start position:0% social layer that actually can convince you<00:11:55.160> that<00:11:55.440> these<00:11:55.639> are<00:11:56.560> uh<00:11:56.959> fundamentally 00:11:57.990 --> 00:11:58.000 align:start position:0% you that these are uh fundamentally 00:11:58.000 --> 00:12:02.509 align:start position:0% you that these are uh fundamentally Diversified<00:11:59.000> we<00:11:59.240> we've<00:11:59.519> had<00:12:00.519> uh<00:12:01.240> several<00:12:02.240> uh 00:12:02.509 --> 00:12:02.519 align:start position:0% Diversified we we've had uh several uh 00:12:02.519 --> 00:12:06.590 align:start position:0% Diversified we we've had uh several uh big<00:12:03.279> uh<00:12:03.440> events<00:12:04.200> uh<00:12:04.320> in<00:12:04.440> our<00:12:04.760> history<00:12:05.440> we<00:12:05.639> had 00:12:06.590 --> 00:12:06.600 align:start position:0% big uh events uh in our history we had 00:12:06.600 --> 00:12:09.509 align:start position:0% big uh events uh in our history we had multi-chain<00:12:07.600> uh<00:12:07.920> that<00:12:08.440> uh<00:12:08.600> claimed<00:12:09.120> you<00:12:09.240> know 00:12:09.509 --> 00:12:09.519 align:start position:0% multi-chain uh that uh claimed you know 00:12:09.519 --> 00:12:12.269 align:start position:0% multi-chain uh that uh claimed you know they<00:12:09.839> were<00:12:10.320> very<00:12:10.839> uh<00:12:10.959> decentralized<00:12:11.760> and<00:12:12.000> out 00:12:12.269 --> 00:12:12.279 align:start position:0% they were very uh decentralized and out 00:12:12.279 --> 00:12:15.389 align:start position:0% they were very uh decentralized and out that<00:12:12.680> uh<00:12:13.199> no<00:12:13.720> they<00:12:13.839> were<00:12:14.240> not<00:12:14.839> and<00:12:15.040> this<00:12:15.199> is<00:12:15.279> the 00:12:15.389 --> 00:12:15.399 align:start position:0% that uh no they were not and this is the 00:12:15.399 --> 00:12:17.310 align:start position:0% that uh no they were not and this is the claim<00:12:15.600> that<00:12:15.680> you<00:12:15.760> cannot<00:12:16.079> really<00:12:16.360> verify 00:12:17.310 --> 00:12:17.320 align:start position:0% claim that you cannot really verify 00:12:17.320 --> 00:12:22.030 align:start position:0% claim that you cannot really verify independently<00:12:17.959> yourself<00:12:18.959> uh<00:12:19.240> huge<00:12:20.560> uh<00:12:21.560> um 00:12:22.030 --> 00:12:22.040 align:start position:0% independently yourself uh huge uh um 00:12:22.040 --> 00:12:25.829 align:start position:0% independently yourself uh huge uh um attack<00:12:23.040> or<00:12:23.279> inside<00:12:23.680> job<00:12:23.920> or<00:12:24.199> rug<00:12:24.760> we<00:12:25.279> are<00:12:25.639> not 00:12:25.829 --> 00:12:25.839 align:start position:0% attack or inside job or rug we are not 00:12:25.839 --> 00:12:28.829 align:start position:0% attack or inside job or rug we are not sure<00:12:26.760> then<00:12:27.000> we<00:12:27.120> had<00:12:27.320> a<00:12:27.600> situation<00:12:28.040> with<00:12:28.240> Oasis 00:12:28.829 --> 00:12:28.839 align:start position:0% sure then we had a situation with Oasis 00:12:28.839 --> 00:12:31.310 align:start position:0% sure then we had a situation with Oasis where<00:12:29.480> uh<00:12:29.760> they<00:12:29.920> were<00:12:30.240> approached<00:12:30.680> by<00:12:30.880> UK 00:12:31.310 --> 00:12:31.320 align:start position:0% where uh they were approached by UK 00:12:31.320 --> 00:12:33.550 align:start position:0% where uh they were approached by UK court<00:12:31.680> and<00:12:31.880> they<00:12:32.120> had<00:12:32.240> to<00:12:32.519> actually<00:12:32.760> use<00:12:33.040> the 00:12:33.550 --> 00:12:33.560 align:start position:0% court and they had to actually use the 00:12:33.560 --> 00:12:37.069 align:start position:0% court and they had to actually use the multi<00:12:34.560> uh<00:12:34.680> to<00:12:35.240> extract<00:12:36.000> some<00:12:36.199> funds<00:12:36.480> from<00:12:36.639> the 00:12:37.069 --> 00:12:37.079 align:start position:0% multi uh to extract some funds from the 00:12:37.079 --> 00:12:39.550 align:start position:0% multi uh to extract some funds from the protocol<00:12:38.079> uh<00:12:38.440> it<00:12:38.519> would<00:12:38.680> be<00:12:38.839> impossible<00:12:39.240> to<00:12:39.360> do 00:12:39.550 --> 00:12:39.560 align:start position:0% protocol uh it would be impossible to do 00:12:39.560 --> 00:12:41.590 align:start position:0% protocol uh it would be impossible to do that<00:12:39.720> if<00:12:39.839> you<00:12:40.000> had<00:12:40.160> a<00:12:40.800> geopolitically 00:12:41.590 --> 00:12:41.600 align:start position:0% that if you had a geopolitically 00:12:41.600 --> 00:12:43.710 align:start position:0% that if you had a geopolitically diversified<00:12:42.519> Security<00:12:42.920> Council<00:12:43.199> to<00:12:43.360> do<00:12:43.519> that 00:12:43.710 --> 00:12:43.720 align:start position:0% diversified Security Council to do that 00:12:43.720 --> 00:12:45.790 align:start position:0% diversified Security Council to do that because<00:12:43.959> there's<00:12:44.240> no<00:12:44.720> court<00:12:45.160> order<00:12:45.440> that<00:12:45.600> can 00:12:45.790 --> 00:12:45.800 align:start position:0% because there's no court order that can 00:12:45.800 --> 00:12:49.350 align:start position:0% because there's no court order that can actually<00:12:46.079> reach<00:12:46.639> uh<00:12:47.000> everybody<00:12:48.000> um<00:12:48.760> finally 00:12:49.350 --> 00:12:49.360 align:start position:0% actually reach uh everybody um finally 00:12:49.360 --> 00:12:51.389 align:start position:0% actually reach uh everybody um finally quite<00:12:49.639> recently<00:12:50.160> you<00:12:50.279> know<00:12:50.480> we<00:12:50.639> had<00:12:50.800> a 00:12:51.389 --> 00:12:51.399 align:start position:0% quite recently you know we had a 00:12:51.399 --> 00:12:53.470 align:start position:0% quite recently you know we had a essentially<00:12:51.920> attack<00:12:52.279> on<00:12:52.399> the<00:12:52.560> mtis<00:12:53.240> you<00:12:53.320> know 00:12:53.470 --> 00:12:53.480 align:start position:0% essentially attack on the mtis you know 00:12:53.480 --> 00:12:55.629 align:start position:0% essentially attack on the mtis you know don't<00:12:53.839> think<00:12:54.040> for<00:12:54.240> a<00:12:54.440> second<00:12:54.720> that<00:12:54.880> multi6<00:12:55.480> can 00:12:55.629 --> 00:12:55.639 align:start position:0% don't think for a second that multi6 can 00:12:55.639 --> 00:12:58.189 align:start position:0% don't think for a second that multi6 can be<00:12:55.839> attacked<00:12:56.639> eventually<00:12:57.000> we<00:12:57.160> had<00:12:57.320> to<00:12:57.720> uh<00:12:57.920> we 00:12:58.189 --> 00:12:58.199 align:start position:0% be attacked eventually we had to uh we 00:12:58.199 --> 00:13:01.829 align:start position:0% be attacked eventually we had to uh we have<00:12:58.360> to<00:12:58.600> get<00:12:58.760> rid<00:12:59.240> of<00:12:59.440> all<00:12:59.600> of<00:12:59.800> them<00:13:00.480> so<00:13:01.120> to<00:13:01.399> sum 00:13:01.829 --> 00:13:01.839 align:start position:0% have to get rid of all of them so to sum 00:13:01.839 --> 00:13:05.550 align:start position:0% have to get rid of all of them so to sum up<00:13:02.839> we<00:13:03.040> think<00:13:03.600> uh<00:13:04.480> this<00:13:04.600> is<00:13:04.720> the<00:13:04.839> correct<00:13:05.240> way 00:13:05.550 --> 00:13:05.560 align:start position:0% up we think uh this is the correct way 00:13:05.560 --> 00:13:07.389 align:start position:0% up we think uh this is the correct way to<00:13:05.760> think<00:13:05.959> about<00:13:06.199> these<00:13:06.399> systems<00:13:06.800> and<00:13:06.959> they 00:13:07.389 --> 00:13:07.399 align:start position:0% to think about these systems and they 00:13:07.399 --> 00:13:09.750 align:start position:0% to think about these systems and they security<00:13:08.399> uh<00:13:08.639> if<00:13:08.760> you<00:13:08.920> have<00:13:09.040> a<00:13:09.160> stage<00:13:09.480> zero 00:13:09.750 --> 00:13:09.760 align:start position:0% security uh if you have a stage zero 00:13:09.760 --> 00:13:11.590 align:start position:0% security uh if you have a stage zero rollup<00:13:10.199> with<00:13:10.320> no<00:13:10.519> security<00:13:10.839> consult 00:13:11.590 --> 00:13:11.600 align:start position:0% rollup with no security consult 00:13:11.600 --> 00:13:14.310 align:start position:0% rollup with no security consult essentially<00:13:12.600> uh<00:13:13.000> malicious<00:13:13.440> operator<00:13:13.920> can<00:13:14.120> do 00:13:14.310 --> 00:13:14.320 align:start position:0% essentially uh malicious operator can do 00:13:14.320 --> 00:13:16.829 align:start position:0% essentially uh malicious operator can do whatever<00:13:14.639> they<00:13:14.760> want<00:13:14.920> with<00:13:15.040> your<00:13:15.399> funds<00:13:16.399> uh<00:13:16.720> if 00:13:16.829 --> 00:13:16.839 align:start position:0% whatever they want with your funds uh if 00:13:16.839 --> 00:13:19.230 align:start position:0% whatever they want with your funds uh if you<00:13:17.160> are<00:13:17.480> stage<00:13:17.800> zero<00:13:18.079> rollup<00:13:18.839> with<00:13:19.040> a 00:13:19.230 --> 00:13:19.240 align:start position:0% you are stage zero rollup with a 00:13:19.240 --> 00:13:22.670 align:start position:0% you are stage zero rollup with a security<00:13:19.639> Council<00:13:20.120> then<00:13:20.920> uh<00:13:21.639> you<00:13:21.800> can<00:13:22.160> try<00:13:22.480> to 00:13:22.670 --> 00:13:22.680 align:start position:0% security Council then uh you can try to 00:13:22.680 --> 00:13:25.230 align:start position:0% security Council then uh you can try to bribe<00:13:23.440> uh<00:13:23.600> Security<00:13:23.959> Council<00:13:24.360> minority 00:13:25.230 --> 00:13:25.240 align:start position:0% bribe uh Security Council minority 00:13:25.240 --> 00:13:27.829 align:start position:0% bribe uh Security Council minority that's<00:13:26.240> uh<00:13:26.480> maybe<00:13:26.760> a<00:13:26.880> hard<00:13:27.079> thing<00:13:27.240> to<00:13:27.399> do<00:13:27.680> but 00:13:27.829 --> 00:13:27.839 align:start position:0% that's uh maybe a hard thing to do but 00:13:27.839 --> 00:13:29.670 align:start position:0% that's uh maybe a hard thing to do but you<00:13:27.959> know<00:13:28.279> much<00:13:28.519> much<00:13:28.760> easier 00:13:29.670 --> 00:13:29.680 align:start position:0% you know much much easier 00:13:29.680 --> 00:13:31.710 align:start position:0% you know much much easier than<00:13:30.040> bribing<00:13:30.680> the<00:13:30.839> security<00:13:31.279> Council 00:13:31.710 --> 00:13:31.720 align:start position:0% than bribing the security Council 00:13:31.720 --> 00:13:33.990 align:start position:0% than bribing the security Council majority<00:13:32.480> which<00:13:33.040> you<00:13:33.199> will<00:13:33.360> need<00:13:33.560> to<00:13:33.720> do<00:13:33.920> if 00:13:33.990 --> 00:13:34.000 align:start position:0% majority which you will need to do if 00:13:34.000 --> 00:13:36.829 align:start position:0% majority which you will need to do if you're<00:13:34.199> malicious<00:13:35.079> if<00:13:35.240> your<00:13:35.440> rollup<00:13:36.000> is<00:13:36.600> uh 00:13:36.829 --> 00:13:36.839 align:start position:0% you're malicious if your rollup is uh 00:13:36.839 --> 00:13:39.949 align:start position:0% you're malicious if your rollup is uh has<00:13:37.000> aov<00:13:37.440> system<00:13:37.839> and<00:13:38.360> finally<00:13:39.360> no<00:13:39.519> one<00:13:39.800> can 00:13:39.949 --> 00:13:39.959 align:start position:0% has aov system and finally no one can 00:13:39.959 --> 00:13:42.150 align:start position:0% has aov system and finally no one can steal<00:13:40.279> your<00:13:40.519> funds<00:13:41.160> if<00:13:41.279> you're<00:13:41.519> stage<00:13:41.800> two 00:13:42.150 --> 00:13:42.160 align:start position:0% steal your funds if you're stage two 00:13:42.160 --> 00:13:44.430 align:start position:0% steal your funds if you're stage two that's<00:13:42.519> the<00:13:42.760> promise<00:13:43.519> of<00:13:43.680> getting<00:13:43.959> to<00:13:44.160> stage 00:13:44.430 --> 00:13:44.440 align:start position:0% that's the promise of getting to stage 00:13:44.440 --> 00:13:46.870 align:start position:0% that's the promise of getting to stage two<00:13:45.160> so<00:13:45.639> the<00:13:45.839> question<00:13:46.120> is<00:13:46.360> do<00:13:46.480> we<00:13:46.600> have<00:13:46.720> the 00:13:46.870 --> 00:13:46.880 align:start position:0% two so the question is do we have the 00:13:46.880 --> 00:13:49.310 align:start position:0% two so the question is do we have the right<00:13:47.079> incentives<00:13:47.760> you<00:13:47.880> know<00:13:48.079> for<00:13:48.360> for<00:13:48.639> for<00:13:49.040> uh 00:13:49.310 --> 00:13:49.320 align:start position:0% right incentives you know for for for uh 00:13:49.320 --> 00:13:51.629 align:start position:0% right incentives you know for for for uh projects<00:13:49.760> to<00:13:49.959> actually<00:13:50.320> care<00:13:51.320> and<00:13:51.480> the 00:13:51.629 --> 00:13:51.639 align:start position:0% projects to actually care and the 00:13:51.639 --> 00:13:53.509 align:start position:0% projects to actually care and the problem<00:13:51.959> is<00:13:52.279> that<00:13:52.759> the<00:13:52.880> only<00:13:53.160> thing<00:13:53.320> that<00:13:53.399> we 00:13:53.509 --> 00:13:53.519 align:start position:0% problem is that the only thing that we 00:13:53.519 --> 00:13:56.269 align:start position:0% problem is that the only thing that we can<00:13:53.720> do<00:13:54.440> uh<00:13:54.560> we<00:13:54.800> as<00:13:54.959> L2<00:13:55.320> beat<00:13:55.680> and<00:13:55.880> we<00:13:56.079> as 00:13:56.269 --> 00:13:56.279 align:start position:0% can do uh we as L2 beat and we as 00:13:56.279 --> 00:13:58.310 align:start position:0% can do uh we as L2 beat and we as ethereum<00:13:56.720> Community<00:13:57.120> is<00:13:57.240> to<00:13:57.519> apply<00:13:57.839> social 00:13:58.310 --> 00:13:58.320 align:start position:0% ethereum Community is to apply social 00:13:58.320 --> 00:14:00.670 align:start position:0% ethereum Community is to apply social pressure<00:13:59.240> uh<00:13:59.360> so<00:13:59.560> this<00:13:59.639> is<00:13:59.800> vitalic<00:14:00.279> saying 00:14:00.670 --> 00:14:00.680 align:start position:0% pressure uh so this is vitalic saying 00:14:00.680 --> 00:14:02.670 align:start position:0% pressure uh so this is vitalic saying that<00:14:00.839> you<00:14:00.959> know<00:14:01.120> starting<00:14:01.519> next<00:14:01.720> year<00:14:02.079> he<00:14:02.199> will 00:14:02.670 --> 00:14:02.680 align:start position:0% that you know starting next year he will 00:14:02.680 --> 00:14:05.310 align:start position:0% that you know starting next year he will plan<00:14:03.040> only<00:14:03.399> publicly<00:14:03.800> mention<00:14:04.519> l2s<00:14:05.000> that<00:14:05.120> are 00:14:05.310 --> 00:14:05.320 align:start position:0% plan only publicly mention l2s that are 00:14:05.320 --> 00:14:07.590 align:start position:0% plan only publicly mention l2s that are stage<00:14:05.600> one<00:14:06.120> he<00:14:06.480> uh<00:14:06.600> previously<00:14:07.160> even<00:14:07.360> said 00:14:07.590 --> 00:14:07.600 align:start position:0% stage one he uh previously even said 00:14:07.600 --> 00:14:09.509 align:start position:0% stage one he uh previously even said that<00:14:07.720> he's<00:14:07.920> not<00:14:08.120> going<00:14:08.240> to<00:14:08.399> call<00:14:09.000> the<00:14:09.160> system 00:14:09.509 --> 00:14:09.519 align:start position:0% that he's not going to call the system 00:14:09.519 --> 00:14:13.430 align:start position:0% that he's not going to call the system rollups<00:14:10.079> if<00:14:10.240> they're<00:14:10.399> not<00:14:10.600> stage<00:14:11.279> one<00:14:12.440> and 00:14:13.430 --> 00:14:13.440 align:start position:0% rollups if they're not stage one and 00:14:13.440 --> 00:14:15.910 align:start position:0% rollups if they're not stage one and this<00:14:13.560> is<00:14:13.800> what<00:14:14.160> you<00:14:14.320> can<00:14:14.440> see<00:14:14.680> today<00:14:15.120> on<00:14:15.240> l2b 00:14:15.910 --> 00:14:15.920 align:start position:0% this is what you can see today on l2b 00:14:15.920 --> 00:14:18.629 align:start position:0% this is what you can see today on l2b you<00:14:16.000> know<00:14:16.120> it's<00:14:16.320> very<00:14:16.600> hard<00:14:17.040> really<00:14:17.320> to<00:14:17.560> say<00:14:18.480> uh 00:14:18.629 --> 00:14:18.639 align:start position:0% you know it's very hard really to say uh 00:14:18.639 --> 00:14:20.949 align:start position:0% you know it's very hard really to say uh what<00:14:18.759> is<00:14:18.880> the<00:14:19.120> security<00:14:19.519> of<00:14:19.639> your<00:14:19.959> system 00:14:20.949 --> 00:14:20.959 align:start position:0% what is the security of your system 00:14:20.959 --> 00:14:23.350 align:start position:0% what is the security of your system right<00:14:21.279> so<00:14:22.079> we<00:14:22.240> were<00:14:22.440> wondering<00:14:22.920> what<00:14:23.120> can<00:14:23.240> you 00:14:23.350 --> 00:14:23.360 align:start position:0% right so we were wondering what can you 00:14:23.360 --> 00:14:25.829 align:start position:0% right so we were wondering what can you do<00:14:23.880> at<00:14:24.000> the<00:14:24.120> moment<00:14:24.440> we<00:14:24.560> have<00:14:24.680> a<00:14:25.000> stages<00:14:25.639> for 00:14:25.829 --> 00:14:25.839 align:start position:0% do at the moment we have a stages for 00:14:25.839 --> 00:14:27.829 align:start position:0% do at the moment we have a stages for rollups<00:14:26.399> we<00:14:26.519> don't<00:14:26.759> have<00:14:27.000> these<00:14:27.240> stages<00:14:27.600> for 00:14:27.829 --> 00:14:27.839 align:start position:0% rollups we don't have these stages for 00:14:27.839 --> 00:14:29.550 align:start position:0% rollups we don't have these stages for validum<00:14:28.279> optimium 00:14:29.550 --> 00:14:29.560 align:start position:0% validum optimium 00:14:29.560 --> 00:14:31.150 align:start position:0% validum optimium and<00:14:29.880> you<00:14:30.000> know<00:14:30.160> we<00:14:30.279> were<00:14:30.480> wondering<00:14:30.880> for<00:14:31.040> a 00:14:31.150 --> 00:14:31.160 align:start position:0% and you know we were wondering for a 00:14:31.160 --> 00:14:32.949 align:start position:0% and you know we were wondering for a long<00:14:31.399> time<00:14:31.759> hey<00:14:31.959> you<00:14:32.079> know<00:14:32.320> what<00:14:32.560> maybe<00:14:32.839> we 00:14:32.949 --> 00:14:32.959 align:start position:0% long time hey you know what maybe we 00:14:32.959 --> 00:14:35.710 align:start position:0% long time hey you know what maybe we could<00:14:33.160> like<00:14:33.320> introduce<00:14:33.759> stage<00:14:34.040> zero<00:14:34.440> plus<00:14:35.160> for 00:14:35.710 --> 00:14:35.720 align:start position:0% could like introduce stage zero plus for 00:14:35.720 --> 00:14:38.550 align:start position:0% could like introduce stage zero plus for proof<00:14:36.079> systems<00:14:36.880> uh<00:14:37.560> like<00:14:37.759> rollups<00:14:38.240> which<00:14:38.360> are 00:14:38.550 --> 00:14:38.560 align:start position:0% proof systems uh like rollups which are 00:14:38.560 --> 00:14:40.150 align:start position:0% proof systems uh like rollups which are not<00:14:38.759> stage<00:14:39.040> one<00:14:39.440> however<00:14:39.639> they<00:14:39.759> are<00:14:39.959> like 00:14:40.150 --> 00:14:40.160 align:start position:0% not stage one however they are like 00:14:40.160 --> 00:14:42.629 align:start position:0% not stage one however they are like better<00:14:40.440> than<00:14:40.600> stage<00:14:40.959> zero<00:14:41.959> but<00:14:42.120> after<00:14:42.360> months 00:14:42.629 --> 00:14:42.639 align:start position:0% better than stage zero but after months 00:14:42.639 --> 00:14:45.949 align:start position:0% better than stage zero but after months of<00:14:42.839> discussion<00:14:43.320> we<00:14:43.480> decided<00:14:44.360> no<00:14:45.360> guys<00:14:45.600> it<00:14:45.720> is 00:14:45.949 --> 00:14:45.959 align:start position:0% of discussion we decided no guys it is 00:14:45.959 --> 00:14:50.350 align:start position:0% of discussion we decided no guys it is time<00:14:46.199> to<00:14:47.000> grow<00:14:47.320> up<00:14:47.839> essentially<00:14:48.759> and<00:14:49.120> uh<00:14:49.839> we<00:14:50.040> we 00:14:50.350 --> 00:14:50.360 align:start position:0% time to grow up essentially and uh we we 00:14:50.360 --> 00:14:53.150 align:start position:0% time to grow up essentially and uh we we really<00:14:50.560> need<00:14:50.720> to<00:14:50.880> break 00:14:53.150 --> 00:14:53.160 align:start position:0% really need to break 00:14:53.160 --> 00:14:57.069 align:start position:0% really need to break [Applause] 00:14:57.069 --> 00:14:57.079 align:start position:0% [Applause] 00:14:57.079 --> 00:15:00.150 align:start position:0% [Applause] this<00:14:58.079> so<00:14:58.839> uh<00:14:59.079> what<00:14:59.199> we're<00:14:59.440> proposing<00:14:59.880> to<00:15:00.040> the 00:15:00.150 --> 00:15:00.160 align:start position:0% this so uh what we're proposing to the 00:15:00.160 --> 00:15:02.189 align:start position:0% this so uh what we're proposing to the community<00:15:00.560> and<00:15:00.720> this<00:15:00.839> is<00:15:01.040> going<00:15:01.240> to<00:15:01.519> go<00:15:01.839> on<00:15:02.000> the 00:15:02.189 --> 00:15:02.199 align:start position:0% community and this is going to go on the 00:15:02.199 --> 00:15:06.550 align:start position:0% community and this is going to go on the Forum<00:15:02.759> and<00:15:03.240> uh<00:15:03.519> you<00:15:03.639> know<00:15:03.800> with<00:15:03.959> the<00:15:04.279> uh<00:15:05.560> um 00:15:06.550 --> 00:15:06.560 align:start position:0% Forum and uh you know with the uh um 00:15:06.560 --> 00:15:08.670 align:start position:0% Forum and uh you know with the uh um Community<00:15:07.040> feedback<00:15:08.040> uh<00:15:08.240> that's<00:15:08.440> what<00:15:08.560> we 00:15:08.670 --> 00:15:08.680 align:start position:0% Community feedback uh that's what we 00:15:08.680 --> 00:15:10.470 align:start position:0% Community feedback uh that's what we want<00:15:08.839> to<00:15:08.959> do<00:15:09.279> first<00:15:09.480> of<00:15:09.639> all<00:15:09.839> we<00:15:09.959> want<00:15:10.120> to<00:15:10.279> sort 00:15:10.470 --> 00:15:10.480 align:start position:0% want to do first of all we want to sort 00:15:10.480 --> 00:15:12.389 align:start position:0% want to do first of all we want to sort of<00:15:10.680> create<00:15:11.079> a<00:15:11.240> separate<00:15:11.680> category<00:15:12.120> for 00:15:12.389 --> 00:15:12.399 align:start position:0% of create a separate category for 00:15:12.399 --> 00:15:15.389 align:start position:0% of create a separate category for systems<00:15:13.399> kind<00:15:13.519> of<00:15:13.680> similar<00:15:14.079> today<00:15:14.759> the<00:15:15.040> main 00:15:15.389 --> 00:15:15.399 align:start position:0% systems kind of similar today the main 00:15:15.399 --> 00:15:17.550 align:start position:0% systems kind of similar today the main difference<00:15:15.839> is<00:15:16.079> that<00:15:16.360> you<00:15:16.880> will<00:15:17.199> have<00:15:17.320> to<00:15:17.440> have 00:15:17.550 --> 00:15:17.560 align:start position:0% difference is that you will have to have 00:15:17.560 --> 00:15:20.910 align:start position:0% difference is that you will have to have a<00:15:17.680> proof<00:15:17.959> system<00:15:18.800> uh<00:15:18.920> to<00:15:19.000> be<00:15:19.240> stage<00:15:19.560> zero<00:15:20.560> so 00:15:20.910 --> 00:15:20.920 align:start position:0% a proof system uh to be stage zero so 00:15:20.920 --> 00:15:23.829 align:start position:0% a proof system uh to be stage zero so for<00:15:21.160> example<00:15:21.880> uh<00:15:22.000> Stark<00:15:22.440> net<00:15:22.720> today<00:15:23.399> will<00:15:23.600> be 00:15:23.829 --> 00:15:23.839 align:start position:0% for example uh Stark net today will be 00:15:23.839 --> 00:15:27.430 align:start position:0% for example uh Stark net today will be stage<00:15:24.199> zero<00:15:24.519> under<00:15:24.920> this<00:15:25.880> classification<00:15:26.880> uh 00:15:27.430 --> 00:15:27.440 align:start position:0% stage zero under this classification uh 00:15:27.440 --> 00:15:29.430 align:start position:0% stage zero under this classification uh all<00:15:27.720> the<00:15:27.880> op<00:15:28.279> stack<00:15:28.560> chains<00:15:29.079> don't<00:15:29.240> have<00:15:29.319> a 00:15:29.430 --> 00:15:29.440 align:start position:0% all the op stack chains don't have a 00:15:29.440 --> 00:15:31.949 align:start position:0% all the op stack chains don't have a proof<00:15:29.720> system<00:15:30.040> except<00:15:30.440> based<00:15:30.720> on<00:15:31.160> optimism 00:15:31.949 --> 00:15:31.959 align:start position:0% proof system except based on optimism 00:15:31.959 --> 00:15:34.350 align:start position:0% proof system except based on optimism they<00:15:32.120> will<00:15:32.399> not<00:15:32.600> fall<00:15:32.880> into<00:15:33.160> this<00:15:33.360> category 00:15:34.350 --> 00:15:34.360 align:start position:0% they will not fall into this category 00:15:34.360 --> 00:15:36.710 align:start position:0% they will not fall into this category right<00:15:35.360> uh<00:15:35.519> and<00:15:35.680> of<00:15:35.800> course<00:15:35.959> you<00:15:36.079> know<00:15:36.240> we<00:15:36.360> will 00:15:36.710 --> 00:15:36.720 align:start position:0% right uh and of course you know we will 00:15:36.720 --> 00:15:40.030 align:start position:0% right uh and of course you know we will give<00:15:37.079> time<00:15:37.399> for<00:15:37.880> uh<00:15:38.600> uh<00:15:38.720> for<00:15:39.240> uh<00:15:39.480> systems<00:15:39.839> to 00:15:40.030 --> 00:15:40.040 align:start position:0% give time for uh uh for uh systems to 00:15:40.040 --> 00:15:42.670 align:start position:0% give time for uh uh for uh systems to adjust<00:15:41.000> so<00:15:41.279> that's<00:15:41.480> like<00:15:41.639> the<00:15:41.759> main<00:15:42.120> category 00:15:42.670 --> 00:15:42.680 align:start position:0% adjust so that's like the main category 00:15:42.680 --> 00:15:44.870 align:start position:0% adjust so that's like the main category and<00:15:42.839> that<00:15:42.959> should<00:15:43.160> be<00:15:43.399> like<00:15:43.560> a<00:15:44.000> super<00:15:44.399> league 00:15:44.870 --> 00:15:44.880 align:start position:0% and that should be like a super league 00:15:44.880 --> 00:15:47.230 align:start position:0% and that should be like a super league right<00:15:45.319> of<00:15:45.519> systems<00:15:46.399> then<00:15:46.560> you<00:15:46.680> have<00:15:46.880> another 00:15:47.230 --> 00:15:47.240 align:start position:0% right of systems then you have another 00:15:47.240 --> 00:15:49.670 align:start position:0% right of systems then you have another category<00:15:47.880> of<00:15:48.240> systems<00:15:48.680> that<00:15:48.800> are<00:15:49.000> not<00:15:49.279> using 00:15:49.670 --> 00:15:49.680 align:start position:0% category of systems that are not using 00:15:49.680 --> 00:15:53.389 align:start position:0% category of systems that are not using ethereum<00:15:50.120> da<00:15:50.600> so<00:15:50.880> they<00:15:51.560> do<00:15:51.959> use<00:15:52.639> additional<00:15:53.279> uh 00:15:53.389 --> 00:15:53.399 align:start position:0% ethereum da so they do use additional uh 00:15:53.399 --> 00:15:56.389 align:start position:0% ethereum da so they do use additional uh trust<00:15:53.800> assumptions<00:15:54.759> that<00:15:54.959> come<00:15:55.240> with<00:15:55.440> da<00:15:56.279> uh 00:15:56.389 --> 00:15:56.399 align:start position:0% trust assumptions that come with da uh 00:15:56.399 --> 00:15:57.829 align:start position:0% trust assumptions that come with da uh we<00:15:56.560> call<00:15:56.759> them<00:15:56.880> all<00:15:57.160> da<00:15:57.480> but<00:15:57.600> they<00:15:57.680> would 00:15:57.829 --> 00:15:57.839 align:start position:0% we call them all da but they would 00:15:57.839 --> 00:15:59.470 align:start position:0% we call them all da but they would include<00:15:58.120> validium<00:15:58.519> Optimum<00:15:59.000> and<00:15:59.160> whatever 00:15:59.470 --> 00:15:59.480 align:start position:0% include validium Optimum and whatever 00:15:59.480 --> 00:16:00.910 align:start position:0% include validium Optimum and whatever you<00:15:59.560> know<00:15:59.720> hybrid<00:16:00.079> construction<00:16:00.560> you<00:16:00.680> may 00:16:00.910 --> 00:16:00.920 align:start position:0% you know hybrid construction you may 00:16:00.920 --> 00:16:04.069 align:start position:0% you know hybrid construction you may actually<00:16:01.399> uh<00:16:01.680> create<00:16:02.680> uh<00:16:03.360> however<00:16:03.759> they<00:16:03.920> have 00:16:04.069 --> 00:16:04.079 align:start position:0% actually uh create uh however they have 00:16:04.079 --> 00:16:05.670 align:start position:0% actually uh create uh however they have to<00:16:04.199> give<00:16:04.360> you<00:16:04.519> reasonable<00:16:04.920> de<00:16:05.160> guarantees 00:16:05.670 --> 00:16:05.680 align:start position:0% to give you reasonable de guarantees 00:16:05.680 --> 00:16:08.350 align:start position:0% to give you reasonable de guarantees that<00:16:05.880> cannot<00:16:06.279> be<00:16:06.440> your<00:16:06.759> basement<00:16:07.759> that<00:16:08.000> has<00:16:08.160> to 00:16:08.350 --> 00:16:08.360 align:start position:0% that cannot be your basement that has to 00:16:08.360 --> 00:16:10.829 align:start position:0% that cannot be your basement that has to be<00:16:09.000> you<00:16:09.120> know<00:16:09.360> reasonably<00:16:09.920> sized<00:16:10.600> data 00:16:10.829 --> 00:16:10.839 align:start position:0% be you know reasonably sized data 00:16:10.839 --> 00:16:12.790 align:start position:0% be you know reasonably sized data availability<00:16:11.360> committee<00:16:12.160> or<00:16:12.519> if<00:16:12.639> you're 00:16:12.790 --> 00:16:12.800 align:start position:0% availability committee or if you're 00:16:12.800 --> 00:16:15.110 align:start position:0% availability committee or if you're using<00:16:13.079> Celestia<00:16:13.759> if<00:16:13.839> you're<00:16:13.959> using<00:16:14.240> a<00:16:14.360> veil 00:16:15.110 --> 00:16:15.120 align:start position:0% using Celestia if you're using a veil 00:16:15.120 --> 00:16:17.509 align:start position:0% using Celestia if you're using a veil you<00:16:15.319> need<00:16:15.560> to<00:16:15.759> use<00:16:16.440> uh<00:16:16.680> the<00:16:16.800> bridge<00:16:17.279> and<00:16:17.399> you 00:16:17.509 --> 00:16:17.519 align:start position:0% you need to use uh the bridge and you 00:16:17.519 --> 00:16:18.870 align:start position:0% you need to use uh the bridge and you will<00:16:17.680> have<00:16:17.800> to<00:16:17.920> use<00:16:18.079> the<00:16:18.199> bridge<00:16:18.480> because<00:16:18.720> you 00:16:18.870 --> 00:16:18.880 align:start position:0% will have to use the bridge because you 00:16:18.880 --> 00:16:20.949 align:start position:0% will have to use the bridge because you need<00:16:19.040> to<00:16:19.199> have<00:16:19.279> a<00:16:19.399> proof<00:16:19.680> system<00:16:20.519> so<00:16:20.839> what 00:16:20.949 --> 00:16:20.959 align:start position:0% need to have a proof system so what 00:16:20.959 --> 00:16:22.829 align:start position:0% need to have a proof system so what about<00:16:21.160> the<00:16:21.279> others<00:16:22.040> uh<00:16:22.199> they<00:16:22.319> will<00:16:22.480> still<00:16:22.680> be 00:16:22.829 --> 00:16:22.839 align:start position:0% about the others uh they will still be 00:16:22.839 --> 00:16:24.870 align:start position:0% about the others uh they will still be able<00:16:23.040> to<00:16:23.720> uh<00:16:23.800> we<00:16:23.920> will<00:16:24.120> put<00:16:24.319> them<00:16:24.480> into<00:16:24.720> the 00:16:24.870 --> 00:16:24.880 align:start position:0% able to uh we will put them into the 00:16:24.880 --> 00:16:28.430 align:start position:0% able to uh we will put them into the third<00:16:25.319> category<00:16:26.199> which<00:16:26.399> we<00:16:26.639> call<00:16:27.560> and<00:16:27.759> now<00:16:28.160> I'm 00:16:28.430 --> 00:16:28.440 align:start position:0% third category which we call and now I'm 00:16:28.440 --> 00:16:29.710 align:start position:0% third category which we call and now I'm wait<00:16:28.680> wai<00:16:28.920> waiting<00:16:29.120> for<00:16:29.240> the<00:16:29.319> community 00:16:29.710 --> 00:16:29.720 align:start position:0% wait wai waiting for the community 00:16:29.720 --> 00:16:31.309 align:start position:0% wait wai waiting for the community feedback<00:16:30.240> you<00:16:30.360> know<00:16:30.480> how<00:16:30.600> do<00:16:30.720> we<00:16:30.880> call<00:16:31.120> these 00:16:31.309 --> 00:16:31.319 align:start position:0% feedback you know how do we call these 00:16:31.319 --> 00:16:35.150 align:start position:0% feedback you know how do we call these systems<00:16:31.800> so<00:16:32.040> our<00:16:32.360> working<00:16:32.880> name<00:16:33.120> is<00:16:33.680> others<00:16:34.680> uh 00:16:35.150 --> 00:16:35.160 align:start position:0% systems so our working name is others uh 00:16:35.160 --> 00:16:38.150 align:start position:0% systems so our working name is others uh you<00:16:35.360> may<00:16:35.759> find<00:16:36.079> whatever<00:16:36.440> name<00:16:37.040> the<00:16:37.160> point<00:16:37.480> is 00:16:38.150 --> 00:16:38.160 align:start position:0% you may find whatever name the point is 00:16:38.160 --> 00:16:41.150 align:start position:0% you may find whatever name the point is they<00:16:38.399> are<00:16:38.880> secured<00:16:39.399> by<00:16:39.560> the<00:16:39.759> multis<00:16:40.680> right<00:16:41.040> and 00:16:41.150 --> 00:16:41.160 align:start position:0% they are secured by the multis right and 00:16:41.160 --> 00:16:43.470 align:start position:0% they are secured by the multis right and we<00:16:41.279> will<00:16:41.560> expose<00:16:42.279> these<00:16:42.480> multis<00:16:43.160> for<00:16:43.319> what 00:16:43.470 --> 00:16:43.480 align:start position:0% we will expose these multis for what 00:16:43.480 --> 00:16:45.230 align:start position:0% we will expose these multis for what they<00:16:43.639> are<00:16:44.279> that's<00:16:44.480> what<00:16:44.560> we<00:16:44.680> want<00:16:44.880> to<00:16:45.000> do<00:16:45.120> in 00:16:45.230 --> 00:16:45.240 align:start position:0% they are that's what we want to do in 00:16:45.240 --> 00:16:49.309 align:start position:0% they are that's what we want to do in our<00:16:45.440> UI<00:16:46.319> so<00:16:47.319> essentially<00:16:48.160> uh<00:16:48.319> the<00:16:48.519> UI<00:16:49.040> is<00:16:49.199> going 00:16:49.309 --> 00:16:49.319 align:start position:0% our UI so essentially uh the UI is going 00:16:49.319 --> 00:16:52.430 align:start position:0% our UI so essentially uh the UI is going to<00:16:49.480> look<00:16:50.040> roughly<00:16:50.519> like<00:16:50.800> this<00:16:51.600> uh<00:16:51.680> you<00:16:51.800> will 00:16:52.430 --> 00:16:52.440 align:start position:0% to look roughly like this uh you will 00:16:52.440 --> 00:16:54.990 align:start position:0% to look roughly like this uh you will see<00:16:52.759> this<00:16:53.000> breakdown<00:16:53.519> you<00:16:53.600> will<00:16:53.759> see<00:16:54.000> rollups 00:16:54.990 --> 00:16:55.000 align:start position:0% see this breakdown you will see rollups 00:16:55.000 --> 00:16:56.829 align:start position:0% see this breakdown you will see rollups you<00:16:55.120> will<00:16:55.279> see<00:16:55.519> validium<00:16:56.000> and<00:16:56.160> optimums<00:16:56.720> and 00:16:56.829 --> 00:16:56.839 align:start position:0% you will see validium and optimums and 00:16:56.839 --> 00:16:59.389 align:start position:0% you will see validium and optimums and you<00:16:56.920> will<00:16:57.040> see<00:16:57.319> others<00:16:57.920> and<00:16:58.240> the<00:16:58.440> default 00:16:59.389 --> 00:16:59.399 align:start position:0% you will see others and the default 00:16:59.399 --> 00:17:01.389 align:start position:0% you will see others and the default sorting<00:16:59.920> will<00:17:00.079> be<00:17:00.279> by<00:17:00.480> security<00:17:01.000> not<00:17:01.160> by<00:17:01.279> the 00:17:01.389 --> 00:17:01.399 align:start position:0% sorting will be by security not by the 00:17:01.399 --> 00:17:03.829 align:start position:0% sorting will be by security not by the tvl<00:17:01.959> right<00:17:02.120> let's<00:17:02.279> not<00:17:02.480> Chase<00:17:02.839> tvl<00:17:03.440> with<00:17:03.600> the 00:17:03.829 --> 00:17:03.839 align:start position:0% tvl right let's not Chase tvl with the 00:17:03.839 --> 00:17:06.669 align:start position:0% tvl right let's not Chase tvl with the bad<00:17:04.160> security<00:17:04.760> that's<00:17:04.959> not<00:17:05.160> the<00:17:05.439> point<00:17:06.439> that's 00:17:06.669 --> 00:17:06.679 align:start position:0% bad security that's not the point that's 00:17:06.679 --> 00:17:08.470 align:start position:0% bad security that's not the point that's going<00:17:06.760> to<00:17:06.919> end<00:17:07.240> really<00:17:07.559> really 00:17:08.470 --> 00:17:08.480 align:start position:0% going to end really really 00:17:08.480 --> 00:17:12.870 align:start position:0% going to end really really [Applause] 00:17:12.870 --> 00:17:12.880 align:start position:0% 00:17:12.880 --> 00:17:17.390 align:start position:0% badly<00:17:13.880> so<00:17:15.240> um<00:17:16.240> we<00:17:16.360> will<00:17:16.600> promote<00:17:16.959> stage<00:17:17.199> one 00:17:17.390 --> 00:17:17.400 align:start position:0% badly so um we will promote stage one 00:17:17.400 --> 00:17:19.270 align:start position:0% badly so um we will promote stage one and<00:17:17.520> stage<00:17:17.720> two<00:17:18.039> projects<00:17:18.640> and<00:17:18.799> we<00:17:18.919> will<00:17:19.120> look 00:17:19.270 --> 00:17:19.280 align:start position:0% and stage two projects and we will look 00:17:19.280 --> 00:17:21.750 align:start position:0% and stage two projects and we will look at<00:17:19.480> stage<00:17:19.720> zero<00:17:20.000> projects<00:17:20.319> as<00:17:20.559> contenders<00:17:21.559> for 00:17:21.750 --> 00:17:21.760 align:start position:0% at stage zero projects as contenders for 00:17:21.760 --> 00:17:23.870 align:start position:0% at stage zero projects as contenders for the<00:17:21.880> others<00:17:22.520> we're<00:17:22.880> happy<00:17:23.079> to<00:17:23.240> list<00:17:23.559> them<00:17:23.760> you 00:17:23.870 --> 00:17:23.880 align:start position:0% the others we're happy to list them you 00:17:23.880 --> 00:17:27.669 align:start position:0% the others we're happy to list them you know<00:17:24.000> we<00:17:24.120> will<00:17:24.280> be<00:17:24.799> extremely<00:17:25.799> uh<00:17:26.199> liberal<00:17:27.199> uh 00:17:27.669 --> 00:17:27.679 align:start position:0% know we will be extremely uh liberal uh 00:17:27.679 --> 00:17:29.470 align:start position:0% know we will be extremely uh liberal uh you<00:17:27.959> just<00:17:28.120> need<00:17:28.319> to<00:17:28.480> be 00:17:29.470 --> 00:17:29.480 align:start position:0% you just need to be 00:17:29.480 --> 00:17:31.830 align:start position:0% you just need to be uh<00:17:29.679> essentially<00:17:30.400> aligned<00:17:30.799> with<00:17:30.960> ethereum<00:17:31.760> uh 00:17:31.830 --> 00:17:31.840 align:start position:0% uh essentially aligned with ethereum uh 00:17:31.840 --> 00:17:33.430 align:start position:0% uh essentially aligned with ethereum uh you<00:17:31.960> will<00:17:32.080> need<00:17:32.240> to<00:17:32.440> obviously<00:17:32.760> have<00:17:32.880> a<00:17:33.000> bridge 00:17:33.430 --> 00:17:33.440 align:start position:0% you will need to obviously have a bridge 00:17:33.440 --> 00:17:35.350 align:start position:0% you will need to obviously have a bridge you<00:17:33.559> know<00:17:34.160> that<00:17:34.320> would<00:17:34.480> allow<00:17:34.760> you<00:17:34.880> to<00:17:35.200> like 00:17:35.350 --> 00:17:35.360 align:start position:0% you know that would allow you to like 00:17:35.360 --> 00:17:37.669 align:start position:0% you know that would allow you to like move<00:17:35.799> funds<00:17:36.799> however<00:17:37.039> we<00:17:37.120> will<00:17:37.280> look<00:17:37.440> at<00:17:37.559> the 00:17:37.669 --> 00:17:37.679 align:start position:0% move funds however we will look at the 00:17:37.679 --> 00:17:39.029 align:start position:0% move funds however we will look at the trust<00:17:38.000> assumptions<00:17:38.480> we'll<00:17:38.679> look<00:17:38.799> at<00:17:38.919> the 00:17:39.029 --> 00:17:39.039 align:start position:0% trust assumptions we'll look at the 00:17:39.039 --> 00:17:42.150 align:start position:0% trust assumptions we'll look at the multi6<00:17:39.880> and<00:17:40.360> we<00:17:40.640> hope<00:17:41.280> that<00:17:41.440> slowly<00:17:42.000> but 00:17:42.150 --> 00:17:42.160 align:start position:0% multi6 and we hope that slowly but 00:17:42.160 --> 00:17:45.230 align:start position:0% multi6 and we hope that slowly but surely<00:17:42.640> you<00:17:42.760> know<00:17:42.919> we<00:17:43.039> will<00:17:43.320> move<00:17:43.880> from<00:17:44.280> others 00:17:45.230 --> 00:17:45.240 align:start position:0% surely you know we will move from others 00:17:45.240 --> 00:17:47.549 align:start position:0% surely you know we will move from others uh<00:17:45.320> to<00:17:45.520> either<00:17:45.799> validum<00:17:46.200> andum<00:17:46.760> or<00:17:46.840> to<00:17:46.960> rollups 00:17:47.549 --> 00:17:47.559 align:start position:0% uh to either validum andum or to rollups 00:17:47.559 --> 00:17:49.029 align:start position:0% uh to either validum andum or to rollups right<00:17:47.760> but<00:17:47.919> this<00:17:48.039> is<00:17:48.200> what<00:17:48.360> we<00:17:48.520> kind<00:17:48.640> of<00:17:48.799> think 00:17:49.029 --> 00:17:49.039 align:start position:0% right but this is what we kind of think 00:17:49.039 --> 00:17:51.549 align:start position:0% right but this is what we kind of think the<00:17:49.200> add<00:17:49.440> this<00:17:49.720> category<00:17:50.200> would<00:17:50.400> look<00:17:50.640> like<00:17:51.440> uh 00:17:51.549 --> 00:17:51.559 align:start position:0% the add this category would look like uh 00:17:51.559 --> 00:17:53.310 align:start position:0% the add this category would look like uh this<00:17:51.679> is<00:17:51.799> the<00:17:51.919> real<00:17:52.160> data<00:17:52.520> right<00:17:52.600> now<00:17:52.799> the<00:17:52.960> real 00:17:53.310 --> 00:17:53.320 align:start position:0% this is the real data right now the real 00:17:53.320 --> 00:17:55.669 align:start position:0% this is the real data right now the real systems<00:17:53.720> that<00:17:53.919> may<00:17:54.480> fall<00:17:54.840> into<00:17:55.080> the<00:17:55.200> others 00:17:55.669 --> 00:17:55.679 align:start position:0% systems that may fall into the others 00:17:55.679 --> 00:17:58.549 align:start position:0% systems that may fall into the others category<00:17:56.159> if<00:17:56.320> they<00:17:56.559> don't<00:17:57.360> uh<00:17:58.000> introduce<00:17:58.480> the 00:17:58.549 --> 00:17:58.559 align:start position:0% category if they don't uh introduce the 00:17:58.559 --> 00:18:00.870 align:start position:0% category if they don't uh introduce the proof<00:17:58.960> system<00:17:59.640> you<00:17:59.760> will<00:17:59.919> see<00:18:00.280> exactly<00:18:00.799> you 00:18:00.870 --> 00:18:00.880 align:start position:0% proof system you will see exactly you 00:18:00.880 --> 00:18:02.190 align:start position:0% proof system you will see exactly you know<00:18:01.080> who's<00:18:01.280> the<00:18:01.440> proposer<00:18:01.919> who's<00:18:02.080> the 00:18:02.190 --> 00:18:02.200 align:start position:0% know who's the proposer who's the 00:18:02.200 --> 00:18:03.950 align:start position:0% know who's the proposer who's the Challenger<00:18:02.720> and<00:18:02.840> who's<00:18:03.000> the<00:18:03.120> upgrader<00:18:03.679> funny 00:18:03.950 --> 00:18:03.960 align:start position:0% Challenger and who's the upgrader funny 00:18:03.960 --> 00:18:06.549 align:start position:0% Challenger and who's the upgrader funny thing<00:18:04.159> is<00:18:04.640> you<00:18:04.840> can<00:18:05.039> see<00:18:05.360> that<00:18:05.559> today<00:18:05.880> on<00:18:06.000> l2b 00:18:06.549 --> 00:18:06.559 align:start position:0% thing is you can see that today on l2b 00:18:06.559 --> 00:18:08.110 align:start position:0% thing is you can see that today on l2b is<00:18:06.720> just<00:18:06.919> that<00:18:07.080> you<00:18:07.159> know<00:18:07.360> this<00:18:07.600> information 00:18:08.110 --> 00:18:08.120 align:start position:0% is just that you know this information 00:18:08.120 --> 00:18:12.630 align:start position:0% is just that you know this information is<00:18:08.640> so<00:18:09.640> uh<00:18:09.880> hidden<00:18:10.559> deeply<00:18:11.559> uh<00:18:11.840> in<00:18:11.960> The<00:18:12.120> Details 00:18:12.630 --> 00:18:12.640 align:start position:0% is so uh hidden deeply uh in The Details 00:18:12.640 --> 00:18:16.110 align:start position:0% is so uh hidden deeply uh in The Details page<00:18:13.240> that<00:18:13.559> you<00:18:13.679> know<00:18:13.919> I<00:18:14.080> bet<00:18:15.039> that<00:18:15.280> only 00:18:16.110 --> 00:18:16.120 align:start position:0% page that you know I bet that only 00:18:16.120 --> 00:18:19.750 align:start position:0% page that you know I bet that only researchers<00:18:17.120> uh<00:18:17.440> and<00:18:18.280> enthusiasts<00:18:19.280> check<00:18:19.520> out 00:18:19.750 --> 00:18:19.760 align:start position:0% researchers uh and enthusiasts check out 00:18:19.760 --> 00:18:21.950 align:start position:0% researchers uh and enthusiasts check out the<00:18:20.000> data<00:18:20.280> it's<00:18:20.440> all<00:18:20.840> available<00:18:21.240> today 00:18:21.950 --> 00:18:21.960 align:start position:0% the data it's all available today 00:18:21.960 --> 00:18:25.029 align:start position:0% the data it's all available today however<00:18:22.520> we<00:18:22.799> do<00:18:23.120> want<00:18:23.679> to<00:18:23.960> expose<00:18:24.440> the<00:18:24.679> data<00:18:24.919> to 00:18:25.029 --> 00:18:25.039 align:start position:0% however we do want to expose the data to 00:18:25.039 --> 00:18:28.070 align:start position:0% however we do want to expose the data to end<00:18:25.360> users<00:18:26.039> we<00:18:26.200> want<00:18:26.400> end<00:18:26.679> users<00:18:27.000> to<00:18:27.159> be<00:18:27.880> uh 00:18:28.070 --> 00:18:28.080 align:start position:0% end users we want end users to be uh 00:18:28.080 --> 00:18:30.669 align:start position:0% end users we want end users to be uh truly<00:18:28.440> aware<00:18:29.120> of<00:18:29.280> what's<00:18:29.559> going<00:18:29.799> on<00:18:30.280> so<00:18:30.520> that 00:18:30.669 --> 00:18:30.679 align:start position:0% truly aware of what's going on so that 00:18:30.679 --> 00:18:32.830 align:start position:0% truly aware of what's going on so that we<00:18:30.799> are<00:18:30.919> all<00:18:31.200> accountable<00:18:32.200> for<00:18:32.400> the<00:18:32.520> system 00:18:32.830 --> 00:18:32.840 align:start position:0% we are all accountable for the system 00:18:32.840 --> 00:18:35.390 align:start position:0% we are all accountable for the system that<00:18:32.960> we're 00:18:35.390 --> 00:18:35.400 align:start position:0% 00:18:35.400 --> 00:18:39.190 align:start position:0% building<00:18:36.400> so<00:18:37.120> is<00:18:37.240> it<00:18:37.440> enough<00:18:37.679> to<00:18:37.840> just<00:18:38.080> say<00:18:38.720> hey 00:18:39.190 --> 00:18:39.200 align:start position:0% building so is it enough to just say hey 00:18:39.200 --> 00:18:41.909 align:start position:0% building so is it enough to just say hey I've<00:18:39.320> got<00:18:39.440> a<00:18:39.600> proof<00:18:39.880> system<00:18:40.200> you<00:18:40.320> know<00:18:40.720> am<00:18:40.880> I<00:18:41.720> in 00:18:41.909 --> 00:18:41.919 align:start position:0% I've got a proof system you know am I in 00:18:41.919 --> 00:18:46.029 align:start position:0% I've got a proof system you know am I in this<00:18:42.159> first<00:18:42.679> category<00:18:43.559> well<00:18:43.720> it's<00:18:43.960> not<00:18:44.720> uh<00:18:45.679> our 00:18:46.029 --> 00:18:46.039 align:start position:0% this first category well it's not uh our 00:18:46.039 --> 00:18:48.710 align:start position:0% this first category well it's not uh our pledge<00:18:46.559> to<00:18:46.720> the<00:18:46.919> community<00:18:47.600> as<00:18:47.760> L2<00:18:48.120> beat<00:18:48.480> is 00:18:48.710 --> 00:18:48.720 align:start position:0% pledge to the community as L2 beat is 00:18:48.720 --> 00:18:51.430 align:start position:0% pledge to the community as L2 beat is that<00:18:49.480> the<00:18:49.640> next<00:18:49.919> year<00:18:50.640> we're<00:18:50.840> going<00:18:50.960> to<00:18:51.159> put 00:18:51.430 --> 00:18:51.440 align:start position:0% that the next year we're going to put 00:18:51.440 --> 00:18:53.149 align:start position:0% that the next year we're going to put significant<00:18:52.039> resources<00:18:52.600> into<00:18:52.960> actually 00:18:53.149 --> 00:18:53.159 align:start position:0% significant resources into actually 00:18:53.159 --> 00:18:55.590 align:start position:0% significant resources into actually looking<00:18:53.720> super<00:18:54.080> hard<00:18:54.480> and<00:18:54.640> very<00:18:54.840> deep<00:18:55.320> into 00:18:55.590 --> 00:18:55.600 align:start position:0% looking super hard and very deep into 00:18:55.600 --> 00:18:56.990 align:start position:0% looking super hard and very deep into these<00:18:55.760> proof<00:18:56.080> systems<00:18:56.400> to<00:18:56.520> make<00:18:56.679> sure<00:18:56.880> that 00:18:56.990 --> 00:18:57.000 align:start position:0% these proof systems to make sure that 00:18:57.000 --> 00:18:59.390 align:start position:0% these proof systems to make sure that they<00:18:57.120> are<00:18:57.280> sound<00:18:58.000> they<00:18:58.120> are<00:18:58.480> uh 00:18:59.390 --> 00:18:59.400 align:start position:0% they are sound they are uh 00:18:59.400 --> 00:19:02.070 align:start position:0% they are sound they are uh uh<00:18:59.600> complete<00:19:00.400> uh<00:19:00.559> we<00:19:00.640> will<00:19:00.880> analyze<00:19:01.400> both<00:19:01.640> ZK 00:19:02.070 --> 00:19:02.080 align:start position:0% uh complete uh we will analyze both ZK 00:19:02.080 --> 00:19:05.590 align:start position:0% uh complete uh we will analyze both ZK and<00:19:02.440> optimistic<00:19:03.440> uh<00:19:03.600> you<00:19:03.760> may<00:19:04.039> have<00:19:04.679> seen<00:19:05.440> uh 00:19:05.590 --> 00:19:05.600 align:start position:0% and optimistic uh you may have seen uh 00:19:05.600 --> 00:19:07.430 align:start position:0% and optimistic uh you may have seen uh some<00:19:05.799> of<00:19:05.960> the<00:19:06.120> talks<00:19:06.640> from<00:19:06.840> the<00:19:06.960> morning<00:19:07.320> you 00:19:07.430 --> 00:19:07.440 align:start position:0% some of the talks from the morning you 00:19:07.440 --> 00:19:10.110 align:start position:0% some of the talks from the morning you know<00:19:07.600> how<00:19:07.760> we<00:19:08.000> approach<00:19:08.880> uh<00:19:09.000> looking<00:19:09.280> at<00:19:09.600> the 00:19:10.110 --> 00:19:10.120 align:start position:0% know how we approach uh looking at the 00:19:10.120 --> 00:19:13.990 align:start position:0% know how we approach uh looking at the uh<00:19:11.120> um<00:19:11.320> fraud<00:19:11.679> proof<00:19:12.000> systems<00:19:13.000> we<00:19:13.120> will<00:19:13.400> do 00:19:13.990 --> 00:19:14.000 align:start position:0% uh um fraud proof systems we will do 00:19:14.000 --> 00:19:16.549 align:start position:0% uh um fraud proof systems we will do essentially<00:19:14.400> the<00:19:14.520> same<00:19:14.760> for<00:19:14.960> the<00:19:15.240> ZK<00:19:16.240> uh<00:19:16.480> we 00:19:16.549 --> 00:19:16.559 align:start position:0% essentially the same for the ZK uh we 00:19:16.559 --> 00:19:18.310 align:start position:0% essentially the same for the ZK uh we will<00:19:16.760> go<00:19:16.960> into<00:19:17.159> the<00:19:17.280> source<00:19:17.640> code<00:19:18.000> we<00:19:18.080> will 00:19:18.310 --> 00:19:18.320 align:start position:0% will go into the source code we will 00:19:18.320 --> 00:19:21.590 align:start position:0% will go into the source code we will look<00:19:18.520> at<00:19:18.799> how<00:19:19.360> you<00:19:20.200> uh<00:19:20.480> created<00:19:20.880> your<00:19:21.080> trusted 00:19:21.590 --> 00:19:21.600 align:start position:0% look at how you uh created your trusted 00:19:21.600 --> 00:19:24.190 align:start position:0% look at how you uh created your trusted setup<00:19:22.240> we<00:19:22.320> will<00:19:22.480> look<00:19:22.640> at<00:19:22.840> your<00:19:23.120> circuits<00:19:24.039> and 00:19:24.190 --> 00:19:24.200 align:start position:0% setup we will look at your circuits and 00:19:24.200 --> 00:19:26.430 align:start position:0% setup we will look at your circuits and see<00:19:24.760> what<00:19:25.080> exactly<00:19:25.480> is<00:19:25.600> being<00:19:25.840> verified<00:19:26.280> on 00:19:26.430 --> 00:19:26.440 align:start position:0% see what exactly is being verified on 00:19:26.440 --> 00:19:29.390 align:start position:0% see what exactly is being verified on chain<00:19:26.880> right<00:19:27.120> we<00:19:27.240> want<00:19:27.400> to<00:19:27.559> make<00:19:28.200> everything 00:19:29.390 --> 00:19:29.400 align:start position:0% chain right we want to make everything 00:19:29.400 --> 00:19:32.590 align:start position:0% chain right we want to make everything super<00:19:30.080> uh<00:19:30.400> transparent<00:19:31.400> so<00:19:31.679> that<00:19:32.159> trust 00:19:32.590 --> 00:19:32.600 align:start position:0% super uh transparent so that trust 00:19:32.600 --> 00:19:34.950 align:start position:0% super uh transparent so that trust assumptions<00:19:33.400> uh<00:19:33.559> they<00:19:33.679> must<00:19:33.880> be<00:19:34.080> clearly 00:19:34.950 --> 00:19:34.960 align:start position:0% assumptions uh they must be clearly 00:19:34.960 --> 00:19:37.950 align:start position:0% assumptions uh they must be clearly communicated<00:19:35.960> and<00:19:36.760> more<00:19:37.000> importantly<00:19:37.760> your 00:19:37.950 --> 00:19:37.960 align:start position:0% communicated and more importantly your 00:19:37.960 --> 00:19:40.230 align:start position:0% communicated and more importantly your proof<00:19:38.280> system<00:19:38.559> cannot<00:19:38.840> be<00:19:39.039> hidden<00:19:39.799> uh<00:19:39.919> behind 00:19:40.230 --> 00:19:40.240 align:start position:0% proof system cannot be hidden uh behind 00:19:40.240 --> 00:19:43.070 align:start position:0% proof system cannot be hidden uh behind unreasonably<00:19:40.919> small<00:19:41.200> white<00:19:41.480> list<00:19:42.000> right<00:19:42.280> so 00:19:43.070 --> 00:19:43.080 align:start position:0% unreasonably small white list right so 00:19:43.080 --> 00:19:45.310 align:start position:0% unreasonably small white list right so uh<00:19:43.240> we're<00:19:43.480> hiring<00:19:43.960> researchers<00:19:44.960> uh<00:19:45.080> we<00:19:45.159> will 00:19:45.310 --> 00:19:45.320 align:start position:0% uh we're hiring researchers uh we will 00:19:45.320 --> 00:19:48.430 align:start position:0% uh we're hiring researchers uh we will do<00:19:45.480> all<00:19:45.679> that<00:19:45.919> work<00:19:46.799> and<00:19:47.640> uh<00:19:47.919> this<00:19:48.039> is<00:19:48.159> our 00:19:48.430 --> 00:19:48.440 align:start position:0% do all that work and uh this is our 00:19:48.440 --> 00:19:51.070 align:start position:0% do all that work and uh this is our pledge<00:19:49.240> uh<00:19:49.360> for<00:19:49.799> the<00:19:49.960> next<00:19:50.200> year<00:19:50.400> to<00:19:50.600> come<00:19:50.919> I 00:19:51.070 --> 00:19:51.080 align:start position:0% pledge uh for the next year to come I 00:19:51.080 --> 00:19:54.110 align:start position:0% pledge uh for the next year to come I hope<00:19:51.679> the<00:19:51.880> next<00:19:52.159> year<00:19:52.440> is<00:19:52.679> going<00:19:52.760> to<00:19:52.919> be<00:19:53.360> uh<00:19:53.840> the 00:19:54.110 --> 00:19:54.120 align:start position:0% hope the next year is going to be uh the 00:19:54.120 --> 00:19:58.070 align:start position:0% hope the next year is going to be uh the year<00:19:54.480> of<00:19:55.080> uh<00:19:55.280> l2s<00:19:55.880> and<00:19:56.200> rollups<00:19:57.200> however<00:19:57.880> it's 00:19:58.070 --> 00:19:58.080 align:start position:0% year of uh l2s and rollups however it's 00:19:58.080 --> 00:20:02.350 align:start position:0% year of uh l2s and rollups however it's not<00:19:58.320> about<00:19:58.960> I<00:19:59.080> can<00:19:59.760> launch<00:20:00.280> my<00:20:01.159> uh<00:20:01.600> rollup<00:20:02.200> with 00:20:02.350 --> 00:20:02.360 align:start position:0% not about I can launch my uh rollup with 00:20:02.360 --> 00:20:04.190 align:start position:0% not about I can launch my uh rollup with one<00:20:02.600> click<00:20:02.799> of<00:20:02.960> a<00:20:03.080> button<00:20:03.559> that's<00:20:03.720> not<00:20:03.960> the 00:20:04.190 --> 00:20:04.200 align:start position:0% one click of a button that's not the 00:20:04.200 --> 00:20:07.230 align:start position:0% one click of a button that's not the point<00:20:04.960> the<00:20:05.120> point<00:20:05.480> is<00:20:06.120> you<00:20:06.280> want<00:20:06.480> to<00:20:06.760> launch 00:20:07.230 --> 00:20:07.240 align:start position:0% point the point is you want to launch 00:20:07.240 --> 00:20:08.710 align:start position:0% point the point is you want to launch and<00:20:07.360> you<00:20:07.440> want<00:20:07.600> to<00:20:07.720> be<00:20:07.840> able<00:20:08.000> to<00:20:08.120> launch<00:20:08.480> a 00:20:08.710 --> 00:20:08.720 align:start position:0% and you want to be able to launch a 00:20:08.720 --> 00:20:13.510 align:start position:0% and you want to be able to launch a system<00:20:09.559> with<00:20:10.559> uh<00:20:10.760> good<00:20:11.320> security<00:20:12.320> uh<00:20:12.880> ideally 00:20:13.510 --> 00:20:13.520 align:start position:0% system with uh good security uh ideally 00:20:13.520 --> 00:20:15.590 align:start position:0% system with uh good security uh ideally you<00:20:13.679> want<00:20:13.840> to<00:20:14.080> in<00:20:14.360> inherit<00:20:14.799> as<00:20:14.960> much<00:20:15.159> security 00:20:15.590 --> 00:20:15.600 align:start position:0% you want to in inherit as much security 00:20:15.600 --> 00:20:19.710 align:start position:0% you want to in inherit as much security as<00:20:15.799> possible<00:20:16.080> from<00:20:16.679> ethereum<00:20:17.679> uh<00:20:18.559> and<00:20:19.559> there's 00:20:19.710 --> 00:20:19.720 align:start position:0% as possible from ethereum uh and there's 00:20:19.720 --> 00:20:22.430 align:start position:0% as possible from ethereum uh and there's a<00:20:19.880> lot<00:20:20.000> of<00:20:20.159> work<00:20:20.760> to<00:20:20.919> do<00:20:21.520> uh<00:20:21.640> for<00:20:21.840> all<00:20:21.960> of<00:20:22.080> us<00:20:22.280> to 00:20:22.430 --> 00:20:22.440 align:start position:0% a lot of work to do uh for all of us to 00:20:22.440 --> 00:20:24.350 align:start position:0% a lot of work to do uh for all of us to actually<00:20:23.000> reach<00:20:23.360> that<00:20:23.559> but<00:20:23.679> if<00:20:23.799> we<00:20:23.919> don't<00:20:24.159> do 00:20:24.350 --> 00:20:24.360 align:start position:0% actually reach that but if we don't do 00:20:24.360 --> 00:20:26.390 align:start position:0% actually reach that but if we don't do that<00:20:24.960> then<00:20:25.159> all<00:20:25.280> we're<00:20:25.520> doing<00:20:25.919> is<00:20:26.240> uh 00:20:26.390 --> 00:20:26.400 align:start position:0% that then all we're doing is uh 00:20:26.400 --> 00:20:28.669 align:start position:0% that then all we're doing is uh essentially<00:20:26.799> creating<00:20:27.720> uh<00:20:27.919> thousands<00:20:28.280> of 00:20:28.669 --> 00:20:28.679 align:start position:0% essentially creating uh thousands of 00:20:28.679 --> 00:20:31.830 align:start position:0% essentially creating uh thousands of secure<00:20:29.240> uh<00:20:29.480> side<00:20:29.720> chains<00:20:30.360> we<00:20:30.520> don't<00:20:30.760> want<00:20:31.159> that 00:20:31.830 --> 00:20:31.840 align:start position:0% secure uh side chains we don't want that 00:20:31.840 --> 00:20:34.310 align:start position:0% secure uh side chains we don't want that uh<00:20:32.039> I<00:20:32.200> think<00:20:32.720> as<00:20:32.840> a<00:20:33.000> community<00:20:33.559> so<00:20:33.799> with<00:20:34.000> that 00:20:34.310 --> 00:20:34.320 align:start position:0% uh I think as a community so with that 00:20:34.320 --> 00:20:36.630 align:start position:0% uh I think as a community so with that thank<00:20:34.480> you<00:20:34.679> very<00:20:34.880> much<00:20:35.200> and<00:20:35.520> uh<00:20:35.640> join<00:20:35.919> us<00:20:36.400> for 00:20:36.630 --> 00:20:36.640 align:start position:0% thank you very much and uh join us for 00:20:36.640 --> 00:20:39.990 align:start position:0% thank you very much and uh join us for the<00:20:37.080> FL<00:20:38.080> let's<00:20:38.480> give<00:20:38.679> him<00:20:38.840> a<00:20:39.039> big 00:20:39.990 --> 00:20:40.000 align:start position:0% the FL let's give him a big 00:20:40.000 --> 00:20:44.230 align:start position:0% the FL let's give him a big hands<00:20:41.440> wow<00:20:42.440> thank<00:20:42.640> you<00:20:42.960> thank<00:20:43.120> you<00:20:43.840> I<00:20:43.960> think<00:20:44.080> we 00:20:44.230 --> 00:20:44.240 align:start position:0% hands wow thank you thank you I think we 00:20:44.240 --> 00:20:46.549 align:start position:0% hands wow thank you thank you I think we are<00:20:44.720> eum<00:20:45.120> Community<00:20:45.559> really<00:20:45.840> appreciate<00:20:46.360> your 00:20:46.549 --> 00:20:46.559 align:start position:0% are eum Community really appreciate your 00:20:46.559 --> 00:20:48.270 align:start position:0% are eum Community really appreciate your work<00:20:47.000> and<00:20:47.200> yes<00:20:47.360> you<00:20:47.520> just<00:20:47.679> cook<00:20:47.919> them<00:20:48.080> on<00:20:48.159> the 00:20:48.270 --> 00:20:48.280 align:start position:0% work and yes you just cook them on the 00:20:48.280 --> 00:20:51.669 align:start position:0% work and yes you just cook them on the stage<00:20:48.600> I<00:20:48.720> love<00:20:48.919> it<00:20:49.600> okay<00:20:50.120> let's<00:20:50.360> do<00:20:50.559> the<00:20:50.720> Q&A<00:20:51.559> is 00:20:51.669 --> 00:20:51.679 align:start position:0% stage I love it okay let's do the Q&A is 00:20:51.679 --> 00:20:53.430 align:start position:0% stage I love it okay let's do the Q&A is it<00:20:51.840> important<00:20:52.240> that<00:20:52.400> Ros<00:20:52.679> have<00:20:52.880> decentralized 00:20:53.430 --> 00:20:53.440 align:start position:0% it important that Ros have decentralized 00:20:53.440 --> 00:20:55.710 align:start position:0% it important that Ros have decentralized that<00:20:53.640> sequencer<00:20:54.280> or<00:20:54.480> other<00:20:54.840> safety<00:20:55.159> or<00:20:55.360> Med 00:20:55.710 --> 00:20:55.720 align:start position:0% that sequencer or other safety or Med 00:20:55.720 --> 00:20:58.350 align:start position:0% that sequencer or other safety or Med mechanism<00:20:56.200> are<00:20:56.559> sufficient<00:20:57.559> so<00:20:57.880> this<00:20:58.000> is<00:20:58.159> a 00:20:58.350 --> 00:20:58.360 align:start position:0% mechanism are sufficient so this is a 00:20:58.360 --> 00:21:02.149 align:start position:0% mechanism are sufficient so this is a very<00:20:58.640> very<00:20:59.159> uh<00:20:59.919> good<00:21:00.200> and<00:21:00.440> important<00:21:01.159> question 00:21:02.149 --> 00:21:02.159 align:start position:0% very very uh good and important question 00:21:02.159 --> 00:21:04.950 align:start position:0% very very uh good and important question uh<00:21:02.480> I<00:21:03.000> uh<00:21:03.159> think<00:21:03.400> that<00:21:03.720> are<00:21:03.919> different<00:21:04.280> designs 00:21:04.950 --> 00:21:04.960 align:start position:0% uh I uh think that are different designs 00:21:04.960 --> 00:21:08.750 align:start position:0% uh I uh think that are different designs that<00:21:05.559> uh<00:21:06.039> we<00:21:06.200> will<00:21:06.840> uh<00:21:07.320> see<00:21:08.320> I<00:21:08.400> don't<00:21:08.600> think 00:21:08.750 --> 00:21:08.760 align:start position:0% that uh we will uh see I don't think 00:21:08.760 --> 00:21:10.909 align:start position:0% that uh we will uh see I don't think decentralizing<00:21:09.400> sequester<00:21:10.120> is<00:21:10.360> like<00:21:10.600> super 00:21:10.909 --> 00:21:10.919 align:start position:0% decentralizing sequester is like super 00:21:10.919 --> 00:21:12.310 align:start position:0% decentralizing sequester is like super important<00:21:11.279> for<00:21:11.400> the<00:21:11.520> security<00:21:11.880> of<00:21:12.039> users 00:21:12.310 --> 00:21:12.320 align:start position:0% important for the security of users 00:21:12.320 --> 00:21:14.549 align:start position:0% important for the security of users funds<00:21:12.720> but<00:21:12.880> it<00:21:13.000> may<00:21:13.200> be<00:21:13.400> important<00:21:13.799> for<00:21:14.039> the<00:21:14.400> uh 00:21:14.549 --> 00:21:14.559 align:start position:0% funds but it may be important for the uh 00:21:14.559 --> 00:21:16.630 align:start position:0% funds but it may be important for the uh realtime<00:21:15.240> censorship<00:21:15.840> resistance<00:21:16.440> in 00:21:16.630 --> 00:21:16.640 align:start position:0% realtime censorship resistance in 00:21:16.640 --> 00:21:20.029 align:start position:0% realtime censorship resistance in certain<00:21:17.480> situations<00:21:18.480> uh<00:21:18.640> vitalic<00:21:19.159> said<00:21:19.760> uh 00:21:20.029 --> 00:21:20.039 align:start position:0% certain situations uh vitalic said uh 00:21:20.039 --> 00:21:22.590 align:start position:0% certain situations uh vitalic said uh during<00:21:20.520> his<00:21:21.000> opening<00:21:21.400> keynote<00:21:21.919> that<00:21:22.480> the 00:21:22.590 --> 00:21:22.600 align:start position:0% during his opening keynote that the 00:21:22.600 --> 00:21:24.430 align:start position:0% during his opening keynote that the future<00:21:23.000> might<00:21:23.320> be<00:21:23.679> that<00:21:23.840> you<00:21:23.960> know<00:21:24.120> we<00:21:24.279> might 00:21:24.430 --> 00:21:24.440 align:start position:0% future might be that you know we might 00:21:24.440 --> 00:21:27.750 align:start position:0% future might be that you know we might see<00:21:24.799> rollups<00:21:25.360> going<00:21:25.919> based<00:21:26.919> uh<00:21:27.080> leveraging 00:21:27.750 --> 00:21:27.760 align:start position:0% see rollups going based uh leveraging 00:21:27.760 --> 00:21:30.750 align:start position:0% see rollups going based uh leveraging ethereum<00:21:28.360> uh<00:21:28.640> infrastructure<00:21:29.279> to<00:21:30.120> uh<00:21:30.320> combat 00:21:30.750 --> 00:21:30.760 align:start position:0% ethereum uh infrastructure to uh combat 00:21:30.760 --> 00:21:33.510 align:start position:0% ethereum uh infrastructure to uh combat realtime<00:21:31.679> uh<00:21:31.919> sensorship<00:21:32.480> resistance<00:21:33.120> While 00:21:33.510 --> 00:21:33.520 align:start position:0% realtime uh sensorship resistance While 00:21:33.520 --> 00:21:35.870 align:start position:0% realtime uh sensorship resistance While others<00:21:34.000> like<00:21:34.240> say<00:21:34.480> mega<00:21:34.840> e<00:21:35.440> they<00:21:35.600> might 00:21:35.870 --> 00:21:35.880 align:start position:0% others like say mega e they might 00:21:35.880 --> 00:21:37.909 align:start position:0% others like say mega e they might actually<00:21:36.320> have<00:21:36.640> very<00:21:36.840> centralized<00:21:37.320> sequence 00:21:37.909 --> 00:21:37.919 align:start position:0% actually have very centralized sequence 00:21:37.919 --> 00:21:40.350 align:start position:0% actually have very centralized sequence and<00:21:38.039> they<00:21:38.200> may<00:21:38.520> rely<00:21:39.279> only<00:21:39.600> on<00:21:39.760> the<00:21:39.960> escape 00:21:40.350 --> 00:21:40.360 align:start position:0% and they may rely only on the escape 00:21:40.360 --> 00:21:42.430 align:start position:0% and they may rely only on the escape hatch<00:21:41.320> uh<00:21:41.480> we<00:21:41.600> might<00:21:41.799> see<00:21:42.039> hybrid 00:21:42.430 --> 00:21:42.440 align:start position:0% hatch uh we might see hybrid 00:21:42.440 --> 00:21:44.909 align:start position:0% hatch uh we might see hybrid constructions<00:21:43.440> I<00:21:43.520> think<00:21:44.080> the<00:21:44.279> design<00:21:44.640> space 00:21:44.909 --> 00:21:44.919 align:start position:0% constructions I think the design space 00:21:44.919 --> 00:21:48.710 align:start position:0% constructions I think the design space is<00:21:45.159> huge<00:21:46.159> uh<00:21:46.520> and<00:21:47.360> uh<00:21:47.760> right<00:21:47.960> now<00:21:48.279> you<00:21:48.400> know<00:21:48.559> we 00:21:48.710 --> 00:21:48.720 align:start position:0% is huge uh and uh right now you know we 00:21:48.720 --> 00:21:50.669 align:start position:0% is huge uh and uh right now you know we like<00:21:48.960> observers<00:21:49.520> SL<00:21:49.679> SL2<00:21:50.000> beat<00:21:50.400> right<00:21:50.559> you 00:21:50.669 --> 00:21:50.679 align:start position:0% like observers SL SL2 beat right you 00:21:50.679 --> 00:21:51.950 align:start position:0% like observers SL SL2 beat right you know<00:21:50.840> we<00:21:51.039> really<00:21:51.240> want<00:21:51.360> to<00:21:51.480> see<00:21:51.679> what's<00:21:51.840> going 00:21:51.950 --> 00:21:51.960 align:start position:0% know we really want to see what's going 00:21:51.960 --> 00:21:53.669 align:start position:0% know we really want to see what's going to<00:21:52.120> happen<00:21:52.400> and<00:21:52.640> you<00:21:52.760> know<00:21:53.159> how<00:21:53.360> that's<00:21:53.559> going 00:21:53.669 --> 00:21:53.679 align:start position:0% to happen and you know how that's going 00:21:53.679 --> 00:21:56.710 align:start position:0% to happen and you know how that's going to<00:21:53.840> play<00:21:54.200> out<00:21:55.200> all<00:21:55.360> right<00:21:55.640> thank<00:21:55.840> you<00:21:56.400> uh<00:21:56.559> next 00:21:56.710 --> 00:21:56.720 align:start position:0% to play out all right thank you uh next 00:21:56.720 --> 00:21:58.990 align:start position:0% to play out all right thank you uh next one<00:21:56.960> will<00:21:57.279> te<00:21:57.799> based<00:21:58.080> proof<00:21:58.320> system<00:21:58.799> be 00:21:58.990 --> 00:21:59.000 align:start position:0% one will te based proof system be 00:21:59.000 --> 00:22:01.470 align:start position:0% one will te based proof system be considered<00:21:59.720> stage<00:22:00.080> two<00:22:00.679> even<00:22:00.880> if<00:22:01.039> they<00:22:01.159> imply 00:22:01.470 --> 00:22:01.480 align:start position:0% considered stage two even if they imply 00:22:01.480 --> 00:22:05.310 align:start position:0% considered stage two even if they imply trust<00:22:01.720> in<00:22:01.840> Hardware<00:22:02.520> manufacturer<00:22:03.520> um<00:22:04.200> so<00:22:04.640> the 00:22:05.310 --> 00:22:05.320 align:start position:0% trust in Hardware manufacturer um so the 00:22:05.320 --> 00:22:09.590 align:start position:0% trust in Hardware manufacturer um so the short<00:22:05.679> answer<00:22:05.960> is<00:22:06.559> no<00:22:07.559> uh<00:22:07.799> because<00:22:08.799> um<00:22:09.400> with 00:22:09.590 --> 00:22:09.600 align:start position:0% short answer is no uh because um with 00:22:09.600 --> 00:22:12.070 align:start position:0% short answer is no uh because um with the<00:22:09.760> constructions<00:22:10.240> that<00:22:10.400> we<00:22:10.520> see<00:22:10.720> today<00:22:11.720> uh 00:22:12.070 --> 00:22:12.080 align:start position:0% the constructions that we see today uh 00:22:12.080 --> 00:22:14.710 align:start position:0% the constructions that we see today uh essentially<00:22:13.080> uh<00:22:13.320> if<00:22:13.440> you're<00:22:13.640> ising<00:22:13.919> as<00:22:14.120> GX 00:22:14.710 --> 00:22:14.720 align:start position:0% essentially uh if you're ising as GX 00:22:14.720 --> 00:22:18.230 align:start position:0% essentially uh if you're ising as GX Intel<00:22:15.480> could<00:22:15.679> submit<00:22:16.000> a<00:22:16.159> proof<00:22:17.000> uh<00:22:17.640> and<00:22:18.080> they 00:22:18.230 --> 00:22:18.240 align:start position:0% Intel could submit a proof uh and they 00:22:18.240 --> 00:22:21.230 align:start position:0% Intel could submit a proof uh and they could<00:22:18.840> potentially<00:22:19.840> uh<00:22:20.039> block<00:22:20.440> steel<00:22:20.799> freeze 00:22:21.230 --> 00:22:21.240 align:start position:0% could potentially uh block steel freeze 00:22:21.240 --> 00:22:23.669 align:start position:0% could potentially uh block steel freeze whatever<00:22:21.559> they<00:22:21.720> want<00:22:22.480> uh<00:22:22.919> without<00:22:23.240> anyone 00:22:23.669 --> 00:22:23.679 align:start position:0% whatever they want uh without anyone 00:22:23.679 --> 00:22:25.950 align:start position:0% whatever they want uh without anyone really<00:22:23.919> noticing<00:22:24.480> and<00:22:24.679> without<00:22:24.960> ethereum 00:22:25.950 --> 00:22:25.960 align:start position:0% really noticing and without ethereum 00:22:25.960 --> 00:22:28.710 align:start position:0% really noticing and without ethereum noticing<00:22:26.960> uh<00:22:27.360> however<00:22:27.760> with<00:22:27.919> all<00:22:28.120> that<00:22:28.279> work 00:22:28.710 --> 00:22:28.720 align:start position:0% noticing uh however with all that work 00:22:28.720 --> 00:22:30.070 align:start position:0% noticing uh however with all that work that's<00:22:28.880> being<00:22:29.080> put<00:22:29.320> forward<00:22:29.720> you<00:22:29.799> know<00:22:29.919> to 00:22:30.070 --> 00:22:30.080 align:start position:0% that's being put forward you know to 00:22:30.080 --> 00:22:33.029 align:start position:0% that's being put forward you know to create<00:22:30.360> the<00:22:30.559> trustless<00:22:31.240> permissionless<00:22:31.919> tees 00:22:33.029 --> 00:22:33.039 align:start position:0% create the trustless permissionless tees 00:22:33.039 --> 00:22:35.750 align:start position:0% create the trustless permissionless tees maybe<00:22:34.039> uh<00:22:34.640> I'm<00:22:34.840> being<00:22:35.080> told<00:22:35.360> that<00:22:35.480> you<00:22:35.600> know 00:22:35.750 --> 00:22:35.760 align:start position:0% maybe uh I'm being told that you know 00:22:35.760 --> 00:22:37.350 align:start position:0% maybe uh I'm being told that you know this<00:22:35.880> is<00:22:36.039> actually<00:22:36.279> work<00:22:36.640> that's<00:22:36.919> extremely 00:22:37.350 --> 00:22:37.360 align:start position:0% this is actually work that's extremely 00:22:37.360 --> 00:22:41.510 align:start position:0% this is actually work that's extremely exciting<00:22:38.039> however<00:22:38.600> short<00:22:38.960> answer<00:22:39.240> today<00:22:40.240> no 00:22:41.510 --> 00:22:41.520 align:start position:0% exciting however short answer today no 00:22:41.520 --> 00:22:44.549 align:start position:0% exciting however short answer today no okay<00:22:42.520> why<00:22:42.720> is<00:22:42.960> optimism<00:22:43.520> classified<00:22:44.080> as<00:22:44.240> St 00:22:44.549 --> 00:22:44.559 align:start position:0% okay why is optimism classified as St 00:22:44.559 --> 00:22:46.909 align:start position:0% okay why is optimism classified as St one<00:22:44.960> wow<00:22:45.440> based<00:22:45.679> on<00:22:45.840> the<00:22:46.039> evaluation<00:22:46.640> they're 00:22:46.909 --> 00:22:46.919 align:start position:0% one wow based on the evaluation they're 00:22:46.919 --> 00:22:48.909 align:start position:0% one wow based on the evaluation they're not<00:22:47.520> as<00:22:47.679> the<00:22:47.799> foundation<00:22:48.200> control<00:22:48.480> proposal 00:22:48.909 --> 00:22:48.919 align:start position:0% not as the foundation control proposal 00:22:48.919 --> 00:22:51.070 align:start position:0% not as the foundation control proposal Pro<00:22:49.440> is<00:22:49.760> in<00:22:49.880> it 00:22:51.070 --> 00:22:51.080 align:start position:0% Pro is in it 00:22:51.080 --> 00:22:53.950 align:start position:0% Pro is in it entirely<00:22:52.080> well<00:22:52.279> I<00:22:52.360> mean<00:22:52.720> they<00:22:53.159> uh<00:22:53.520> they 00:22:53.950 --> 00:22:53.960 align:start position:0% entirely well I mean they uh they 00:22:53.960 --> 00:22:57.149 align:start position:0% entirely well I mean they uh they essentially<00:22:54.960> uh<00:22:55.080> meet<00:22:55.360> all<00:22:55.559> the<00:22:56.039> uh<00:22:56.240> criteria 00:22:57.149 --> 00:22:57.159 align:start position:0% essentially uh meet all the uh criteria 00:22:57.159 --> 00:22:58.950 align:start position:0% essentially uh meet all the uh criteria so<00:22:57.480> it's<00:22:57.679> not<00:22:58.080> really 00:22:58.950 --> 00:22:58.960 align:start position:0% so it's not really 00:22:58.960 --> 00:23:00.909 align:start position:0% so it's not really about<00:22:59.200> the<00:22:59.400> proposal<00:22:59.880> process<00:23:00.240> is<00:23:00.520> about<00:23:00.799> you 00:23:00.909 --> 00:23:00.919 align:start position:0% about the proposal process is about you 00:23:00.919 --> 00:23:05.029 align:start position:0% about the proposal process is about you know<00:23:01.120> who's<00:23:01.679> controlling<00:23:02.679> the<00:23:03.200> funds<00:23:04.200> and<00:23:04.880> you 00:23:05.029 --> 00:23:05.039 align:start position:0% know who's controlling the funds and you 00:23:05.039 --> 00:23:08.909 align:start position:0% know who's controlling the funds and you can<00:23:05.240> have<00:23:05.400> a<00:23:06.080> centralized<00:23:07.080> um<00:23:07.559> proposal<00:23:08.559> uh 00:23:08.909 --> 00:23:08.919 align:start position:0% can have a centralized um proposal uh 00:23:08.919 --> 00:23:11.029 align:start position:0% can have a centralized um proposal uh however<00:23:09.480> there's<00:23:09.720> a<00:23:09.840> fallback<00:23:10.480> so<00:23:10.760> you<00:23:10.880> know 00:23:11.029 --> 00:23:11.039 align:start position:0% however there's a fallback so you know 00:23:11.039 --> 00:23:14.070 align:start position:0% however there's a fallback so you know if<00:23:11.200> they<00:23:11.320> go<00:23:11.559> down<00:23:12.480> uh<00:23:12.679> then<00:23:13.279> the<00:23:13.440> whole<00:23:13.679> system 00:23:14.070 --> 00:23:14.080 align:start position:0% if they go down uh then the whole system 00:23:14.080 --> 00:23:16.950 align:start position:0% if they go down uh then the whole system becomes<00:23:14.480> more<00:23:14.679> of<00:23:14.840> a<00:23:15.120> permission<00:23:15.559> l<00:23:16.000> so<00:23:16.840> I 00:23:16.950 --> 00:23:16.960 align:start position:0% becomes more of a permission l so I 00:23:16.960 --> 00:23:18.830 align:start position:0% becomes more of a permission l so I think<00:23:17.080> it's<00:23:17.279> important<00:23:17.679> to<00:23:17.880> recognize<00:23:18.559> that 00:23:18.830 --> 00:23:18.840 align:start position:0% think it's important to recognize that 00:23:18.840 --> 00:23:20.710 align:start position:0% think it's important to recognize that also<00:23:19.480> what<00:23:19.640> is<00:23:19.760> the<00:23:19.880> role<00:23:20.080> of<00:23:20.200> the<00:23:20.320> security 00:23:20.710 --> 00:23:20.720 align:start position:0% also what is the role of the security 00:23:20.720 --> 00:23:22.230 align:start position:0% also what is the role of the security councel<00:23:21.080> and<00:23:21.279> what<00:23:21.520> not<00:23:21.720> right<00:23:21.880> we<00:23:22.000> want 00:23:22.230 --> 00:23:22.240 align:start position:0% councel and what not right we want 00:23:22.240 --> 00:23:25.750 align:start position:0% councel and what not right we want stage1<00:23:22.960> systems<00:23:23.600> to<00:23:23.799> allow<00:23:24.080> you<00:23:24.200> to<00:23:24.559> exit<00:23:25.480> if 00:23:25.750 --> 00:23:25.760 align:start position:0% stage1 systems to allow you to exit if 00:23:25.760 --> 00:23:28.510 align:start position:0% stage1 systems to allow you to exit if the<00:23:26.000> centralized<00:23:26.640> proposer<00:23:27.320> stops<00:23:28.000> so<00:23:28.159> for 00:23:28.510 --> 00:23:28.520 align:start position:0% the centralized proposer stops so for 00:23:28.520 --> 00:23:30.750 align:start position:0% the centralized proposer stops so for example<00:23:28.840> with<00:23:28.960> the<00:23:29.080> idx<00:23:29.679> you<00:23:29.760> know<00:23:30.039> there<00:23:30.159> was 00:23:30.750 --> 00:23:30.760 align:start position:0% example with the idx you know there was 00:23:30.760 --> 00:23:32.669 align:start position:0% example with the idx you know there was The<00:23:30.919> Proposal<00:23:31.360> was<00:23:31.600> super<00:23:32.000> centralized 00:23:32.669 --> 00:23:32.679 align:start position:0% The Proposal was super centralized 00:23:32.679 --> 00:23:33.789 align:start position:0% The Proposal was super centralized however<00:23:32.840> when<00:23:33.000> they<00:23:33.159> stopped<00:23:33.520> you<00:23:33.640> know 00:23:33.789 --> 00:23:33.799 align:start position:0% however when they stopped you know 00:23:33.799 --> 00:23:36.029 align:start position:0% however when they stopped you know people<00:23:34.000> could<00:23:34.240> exit<00:23:34.760> right<00:23:34.960> so<00:23:35.720> it's<00:23:35.840> not 00:23:36.029 --> 00:23:36.039 align:start position:0% people could exit right so it's not 00:23:36.039 --> 00:23:37.310 align:start position:0% people could exit right so it's not about<00:23:36.400> whether<00:23:36.600> you<00:23:36.720> centralized<00:23:37.200> or 00:23:37.310 --> 00:23:37.320 align:start position:0% about whether you centralized or 00:23:37.320 --> 00:23:39.070 align:start position:0% about whether you centralized or decentralized<00:23:37.880> is<00:23:38.000> about<00:23:38.240> whether<00:23:38.400> you<00:23:38.760> can 00:23:39.070 --> 00:23:39.080 align:start position:0% decentralized is about whether you can 00:23:39.080 --> 00:23:41.909 align:start position:0% decentralized is about whether you can actually<00:23:39.960> exit<00:23:40.240> in<00:23:40.360> the<00:23:40.480> permissionless<00:23:41.080> way 00:23:41.909 --> 00:23:41.919 align:start position:0% actually exit in the permissionless way 00:23:41.919 --> 00:23:44.470 align:start position:0% actually exit in the permissionless way um<00:23:42.320> they<00:23:42.559> met<00:23:42.919> all<00:23:43.080> the<00:23:43.520> uh<00:23:43.720> criteria<00:23:44.240> I<00:23:44.279> mean 00:23:44.470 --> 00:23:44.480 align:start position:0% um they met all the uh criteria I mean 00:23:44.480 --> 00:23:46.430 align:start position:0% um they met all the uh criteria I mean we<00:23:44.600> were<00:23:44.720> refining<00:23:45.200> by<00:23:45.320> the<00:23:45.440> way<00:23:45.640> I<00:23:45.720> mean 00:23:46.430 --> 00:23:46.440 align:start position:0% we were refining by the way I mean 00:23:46.440 --> 00:23:48.390 align:start position:0% we were refining by the way I mean criteria<00:23:47.159> is<00:23:47.320> not<00:23:47.520> something<00:23:47.840> that's<00:23:48.000> set<00:23:48.240> in 00:23:48.390 --> 00:23:48.400 align:start position:0% criteria is not something that's set in 00:23:48.400 --> 00:23:49.909 align:start position:0% criteria is not something that's set in stone<00:23:48.799> because<00:23:49.039> all<00:23:49.200> these<00:23:49.360> systems<00:23:49.679> are 00:23:49.909 --> 00:23:49.919 align:start position:0% stone because all these systems are 00:23:49.919 --> 00:23:52.950 align:start position:0% stone because all these systems are evolving<00:23:50.600> right<00:23:50.720> so<00:23:50.960> we<00:23:51.120> need<00:23:51.480> to<00:23:51.840> evolve<00:23:52.840> uh 00:23:52.950 --> 00:23:52.960 align:start position:0% evolving right so we need to evolve uh 00:23:52.960 --> 00:23:55.510 align:start position:0% evolving right so we need to evolve uh with<00:23:53.200> these<00:23:53.440> systems<00:23:54.039> so<00:23:54.240> the<00:23:54.400> criteria<00:23:55.279> might 00:23:55.510 --> 00:23:55.520 align:start position:0% with these systems so the criteria might 00:23:55.520 --> 00:23:57.990 align:start position:0% with these systems so the criteria might be<00:23:55.679> changing<00:23:56.080> a<00:23:56.159> little<00:23:56.360> bit<00:23:56.679> and<00:23:57.679> we<00:23:57.799> are 00:23:57.990 --> 00:23:58.000 align:start position:0% be changing a little bit and we are 00:23:58.000 --> 00:24:00.310 align:start position:0% be changing a little bit and we are looking<00:23:58.840> very<00:23:59.080> very<00:23:59.320> closely<00:23:59.799> and<00:24:00.039> both 00:24:00.310 --> 00:24:00.320 align:start position:0% looking very very closely and both 00:24:00.320 --> 00:24:03.350 align:start position:0% looking very very closely and both optimism<00:24:00.919> and<00:24:01.360> arbitrum<00:24:02.360> because<00:24:02.640> clearly 00:24:03.350 --> 00:24:03.360 align:start position:0% optimism and arbitrum because clearly 00:24:03.360 --> 00:24:05.149 align:start position:0% optimism and arbitrum because clearly they<00:24:03.520> like<00:24:03.840> the<00:24:03.960> two<00:24:04.120> leaders<00:24:04.799> there<00:24:04.880> are<00:24:05.000> a 00:24:05.149 --> 00:24:05.159 align:start position:0% they like the two leaders there are a 00:24:05.159 --> 00:24:06.870 align:start position:0% they like the two leaders there are a lot<00:24:05.279> of<00:24:05.440> nuances<00:24:05.960> that<00:24:06.080> I<00:24:06.159> don't<00:24:06.320> have<00:24:06.520> time<00:24:06.679> to 00:24:06.870 --> 00:24:06.880 align:start position:0% lot of nuances that I don't have time to 00:24:06.880 --> 00:24:10.390 align:start position:0% lot of nuances that I don't have time to go<00:24:07.200> into<00:24:07.640> but<00:24:08.000> uh<00:24:08.559> uh<00:24:08.679> but<00:24:08.919> yeah<00:24:09.080> I<00:24:09.240> mean<00:24:10.240> it's 00:24:10.390 --> 00:24:10.400 align:start position:0% go into but uh uh but yeah I mean it's 00:24:10.400 --> 00:24:13.149 align:start position:0% go into but uh uh but yeah I mean it's not<00:24:10.600> like<00:24:10.720> you<00:24:10.919> can<00:24:11.600> you<00:24:11.799> have<00:24:12.000> this<00:24:12.200> stage<00:24:13.000> uh 00:24:13.149 --> 00:24:13.159 align:start position:0% not like you can you have this stage uh 00:24:13.159 --> 00:24:15.990 align:start position:0% not like you can you have this stage uh designation<00:24:13.640> forever<00:24:14.520> right<00:24:15.279> so<00:24:15.600> if<00:24:15.840> if 00:24:15.990 --> 00:24:16.000 align:start position:0% designation forever right so if if 00:24:16.000 --> 00:24:17.630 align:start position:0% designation forever right so if if there's<00:24:16.240> something<00:24:16.760> like<00:24:16.880> a<00:24:17.000> new<00:24:17.200> information 00:24:17.630 --> 00:24:17.640 align:start position:0% there's something like a new information 00:24:17.640 --> 00:24:19.149 align:start position:0% there's something like a new information or<00:24:17.799> whatever<00:24:18.159> that<00:24:18.279> we<00:24:18.440> might<00:24:18.640> have<00:24:18.799> skipped 00:24:19.149 --> 00:24:19.159 align:start position:0% or whatever that we might have skipped 00:24:19.159 --> 00:24:21.110 align:start position:0% or whatever that we might have skipped or<00:24:19.320> missed<00:24:19.720> you<00:24:19.840> know<00:24:20.159> it's<00:24:20.360> quite<00:24:20.640> possible 00:24:21.110 --> 00:24:21.120 align:start position:0% or missed you know it's quite possible 00:24:21.120 --> 00:24:23.669 align:start position:0% or missed you know it's quite possible that<00:24:21.600> you<00:24:21.720> may<00:24:21.880> lose<00:24:22.120> this<00:24:22.400> designation<00:24:23.400> all 00:24:23.669 --> 00:24:23.679 align:start position:0% that you may lose this designation all 00:24:23.679 --> 00:24:25.630 align:start position:0% that you may lose this designation all right<00:24:24.320> okay<00:24:24.640> what<00:24:24.760> are<00:24:24.919> the<00:24:25.039> core<00:24:25.279> reason 00:24:25.630 --> 00:24:25.640 align:start position:0% right okay what are the core reason 00:24:25.640 --> 00:24:28.149 align:start position:0% right okay what are the core reason projects<00:24:26.080> don't<00:24:26.360> build<00:24:26.640> towards<00:24:27.159> stage<00:24:27.480> one 00:24:28.149 --> 00:24:28.159 align:start position:0% projects don't build towards stage one 00:24:28.159 --> 00:24:30.750 align:start position:0% projects don't build towards stage one uh<00:24:28.440> complexity<00:24:29.000> time<00:24:29.320> cost<00:24:29.600> Talent<00:24:30.520> it's 00:24:30.750 --> 00:24:30.760 align:start position:0% uh complexity time cost Talent it's 00:24:30.760 --> 00:24:33.590 align:start position:0% uh complexity time cost Talent it's surprisingly<00:24:31.520> costly<00:24:32.520> and<00:24:32.679> like<00:24:32.799> I<00:24:32.960> said<00:24:33.320> the 00:24:33.590 --> 00:24:33.600 align:start position:0% surprisingly costly and like I said the 00:24:33.600 --> 00:24:35.909 align:start position:0% surprisingly costly and like I said the Pioneers<00:24:34.600> uh<00:24:34.720> four<00:24:35.000> years<00:24:35.240> ago<00:24:35.559> they<00:24:35.679> were 00:24:35.909 --> 00:24:35.919 align:start position:0% Pioneers uh four years ago they were 00:24:35.919 --> 00:24:38.710 align:start position:0% Pioneers uh four years ago they were essentially<00:24:36.600> building<00:24:37.120> for<00:24:37.640> like<00:24:37.760> dydx<00:24:38.480> was 00:24:38.710 --> 00:24:38.720 align:start position:0% essentially building for like dydx was 00:24:38.720 --> 00:24:41.149 align:start position:0% essentially building for like dydx was literally<00:24:39.480> the<00:24:39.720> first<00:24:40.159> one<00:24:40.320> of<00:24:40.440> the<00:24:40.600> first<00:24:41.000> if 00:24:41.149 --> 00:24:41.159 align:start position:0% literally the first one of the first if 00:24:41.159 --> 00:24:44.350 align:start position:0% literally the first one of the first if not<00:24:41.399> the<00:24:41.600> first<00:24:42.520> uh<00:24:42.720> ZK<00:24:43.080> rollup<00:24:43.840> it<00:24:44.000> was 00:24:44.350 --> 00:24:44.360 align:start position:0% not the first uh ZK rollup it was 00:24:44.360 --> 00:24:46.310 align:start position:0% not the first uh ZK rollup it was application<00:24:44.799> specific<00:24:45.240> but<00:24:45.440> still<00:24:46.000> it<00:24:46.120> was 00:24:46.310 --> 00:24:46.320 align:start position:0% application specific but still it was 00:24:46.320 --> 00:24:50.789 align:start position:0% application specific but still it was the<00:24:46.480> first<00:24:47.320> and<00:24:48.320> if<00:24:48.520> not<00:24:48.840> for<00:24:49.840> small<00:24:50.200> nuances 00:24:50.789 --> 00:24:50.799 align:start position:0% the first and if not for small nuances 00:24:50.799 --> 00:24:53.470 align:start position:0% the first and if not for small nuances it<00:24:50.880> would<00:24:51.039> be<00:24:51.159> stage<00:24:51.440> two<00:24:52.000> really<00:24:53.000> uh<00:24:53.159> it's<00:24:53.320> the 00:24:53.470 --> 00:24:53.480 align:start position:0% it would be stage two really uh it's the 00:24:53.480 --> 00:24:55.230 align:start position:0% it would be stage two really uh it's the governance<00:24:53.960> process<00:24:54.320> that<00:24:54.440> we<00:24:54.600> require<00:24:55.120> you 00:24:55.230 --> 00:24:55.240 align:start position:0% governance process that we require you 00:24:55.240 --> 00:24:58.029 align:start position:0% governance process that we require you know<00:24:55.919> uh<00:24:56.279> for<00:24:56.520> stage<00:24:56.799> two<00:24:57.080> that's<00:24:57.320> failing<00:24:57.919> but 00:24:58.029 --> 00:24:58.039 align:start position:0% know uh for stage two that's failing but 00:24:58.039 --> 00:24:59.470 align:start position:0% know uh for stage two that's failing but you<00:24:58.159> know<00:24:58.559> like<00:24:58.679> for<00:24:58.840> all<00:24:59.000> intents<00:24:59.320> and 00:24:59.470 --> 00:24:59.480 align:start position:0% you know like for all intents and 00:24:59.480 --> 00:25:01.230 align:start position:0% you know like for all intents and purposes<00:24:59.880> is<00:25:00.039> a<00:25:00.159> stage<00:25:00.399> two<00:25:00.640> system<00:25:00.960> it<00:25:01.080> was 00:25:01.230 --> 00:25:01.240 align:start position:0% purposes is a stage two system it was 00:25:01.240 --> 00:25:02.710 align:start position:0% purposes is a stage two system it was built<00:25:01.520> four<00:25:01.720> years<00:25:01.960> ago<00:25:02.159> so<00:25:02.320> it's<00:25:02.440> not<00:25:02.600> like 00:25:02.710 --> 00:25:02.720 align:start position:0% built four years ago so it's not like 00:25:02.720 --> 00:25:05.310 align:start position:0% built four years ago so it's not like it's<00:25:03.080> impossible<00:25:04.080> I<00:25:04.200> think<00:25:04.440> what<00:25:04.640> makes<00:25:04.880> it 00:25:05.310 --> 00:25:05.320 align:start position:0% it's impossible I think what makes it 00:25:05.320 --> 00:25:07.590 align:start position:0% it's impossible I think what makes it you<00:25:05.399> know<00:25:05.600> super<00:25:05.919> hard<00:25:06.120> today<00:25:06.520> for<00:25:07.120> for<00:25:07.399> all 00:25:07.590 --> 00:25:07.600 align:start position:0% you know super hard today for for all 00:25:07.600 --> 00:25:09.350 align:start position:0% you know super hard today for for all the<00:25:07.720> Roll-Ups<00:25:08.159> to<00:25:08.279> actually<00:25:08.480> do<00:25:08.679> that<00:25:08.880> frankly 00:25:09.350 --> 00:25:09.360 align:start position:0% the Roll-Ups to actually do that frankly 00:25:09.360 --> 00:25:12.190 align:start position:0% the Roll-Ups to actually do that frankly is<00:25:09.600> that<00:25:10.039> the<00:25:10.320> majority<00:25:10.880> of<00:25:11.000> the<00:25:11.120> rollups<00:25:11.640> are 00:25:12.190 --> 00:25:12.200 align:start position:0% is that the majority of the rollups are 00:25:12.200 --> 00:25:13.909 align:start position:0% is that the majority of the rollups are not<00:25:12.440> built<00:25:12.799> by<00:25:12.919> the<00:25:13.080> teams<00:25:13.520> you<00:25:13.640> know<00:25:13.799> they 00:25:13.909 --> 00:25:13.919 align:start position:0% not built by the teams you know they 00:25:13.919 --> 00:25:15.470 align:start position:0% not built by the teams you know they launched<00:25:14.399> by<00:25:14.520> the<00:25:14.640> rollup<00:25:14.960> as<00:25:15.039> a<00:25:15.159> service 00:25:15.470 --> 00:25:15.480 align:start position:0% launched by the rollup as a service 00:25:15.480 --> 00:25:18.070 align:start position:0% launched by the rollup as a service providers<00:25:16.279> and<00:25:16.799> we<00:25:16.919> need<00:25:17.120> to<00:25:17.279> incentivize 00:25:18.070 --> 00:25:18.080 align:start position:0% providers and we need to incentivize 00:25:18.080 --> 00:25:21.149 align:start position:0% providers and we need to incentivize them<00:25:18.760> to<00:25:19.240> actually<00:25:20.240> like<00:25:20.399> do 00:25:21.149 --> 00:25:21.159 align:start position:0% them to actually like do 00:25:21.159 --> 00:25:24.710 align:start position:0% them to actually like do better<00:25:22.159> right<00:25:22.760> so<00:25:23.360> uh<00:25:23.520> and<00:25:23.679> it's<00:25:23.919> hard<00:25:24.320> yeah<00:25:24.640> I 00:25:24.710 --> 00:25:24.720 align:start position:0% better right so uh and it's hard yeah I 00:25:24.720 --> 00:25:26.830 align:start position:0% better right so uh and it's hard yeah I mean<00:25:24.919> no<00:25:25.039> one<00:25:25.159> said<00:25:25.399> that<00:25:25.480> it<00:25:25.559> would<00:25:25.720> be<00:25:25.840> easy 00:25:26.830 --> 00:25:26.840 align:start position:0% mean no one said that it would be easy 00:25:26.840 --> 00:25:28.470 align:start position:0% mean no one said that it would be easy all<00:25:27.039> right<00:25:27.320> thank<00:25:27.480> you<00:25:27.640> and<00:25:27.720> we<00:25:27.919> running<00:25:28.120> off 00:25:28.470 --> 00:25:28.480 align:start position:0% all right thank you and we running off 00:25:28.480 --> 00:25:30.990 align:start position:0% all right thank you and we running off time<00:25:28.720> thank<00:25:28.880> you<00:25:29.039> Mr<00:25:29.360> Bic<00:25:30.080> and<00:25:30.360> yes<00:25:30.640> let's<00:25:30.840> give 00:25:30.990 --> 00:25:31.000 align:start position:0% time thank you Mr Bic and yes let's give 00:25:31.000 --> 00:25:33.389 align:start position:0% time thank you Mr Bic and yes let's give him<00:25:31.240> big<00:25:31.679> hands<00:25:32.679> yeah<00:25:32.840> I'm<00:25:32.960> sure<00:25:33.240> we 00:25:33.389 --> 00:25:33.399 align:start position:0% him big hands yeah I'm sure we 00:25:33.399 --> 00:25:35.029 align:start position:0% him big hands yeah I'm sure we appreciate<00:25:33.960> your<00:25:34.159> hard<00:25:34.399> work<00:25:34.760> and<00:25:34.880> your 00:25:35.029 --> 00:25:35.039 align:start position:0% appreciate your hard work and your 00:25:35.039 --> 00:25:37.789 align:start position:0% appreciate your hard work and your researching<00:25:35.559> team<00:25:35.919> thank<00:25:36.080> you<00:25:36.880> thank<00:25:37.080> you<00:25:37.640> all 00:25:37.789 --> 00:25:37.799 align:start position:0% researching team thank you thank you all 00:25:37.799 --> 00:25:41.200 align:start position:0% researching team thank you thank you all right<00:25:38.039> it's<00:25:38.240> lunchtime<00:25:39.000> and