WEBVTT Kind: captions Language: en 00:00:01.160 --> 00:00:06.690 align:start position:0% [Music] 00:00:06.690 --> 00:00:06.700 align:start position:0% 00:00:06.700 --> 00:00:09.589 align:start position:0% [Music] 00:00:09.589 --> 00:00:09.599 align:start position:0% [Music] 00:00:09.599 --> 00:00:12.950 align:start position:0% [Music] hi<00:00:09.760> everybody<00:00:10.639> I'm<00:00:10.840> Leona<00:00:11.160> from<00:00:11.679> inmax<00:00:12.679> today 00:00:12.950 --> 00:00:12.960 align:start position:0% hi everybody I'm Leona from inmax today 00:00:12.960 --> 00:00:17.029 align:start position:0% hi everybody I'm Leona from inmax today I<00:00:13.080> want<00:00:13.240> to<00:00:13.599> talking<00:00:14.440> about<00:00:15.760> statelessness<00:00:16.760> on 00:00:17.029 --> 00:00:17.039 align:start position:0% I want to talking about statelessness on 00:00:17.039 --> 00:00:20.470 align:start position:0% I want to talking about statelessness on the<00:00:17.320> how<00:00:17.480> it<00:00:17.640> works<00:00:18.320> on<00:00:18.600> the<00:00:19.199> how<00:00:19.640> how<00:00:19.800> it<00:00:19.920> it 00:00:20.470 --> 00:00:20.480 align:start position:0% the how it works on the how how it it 00:00:20.480 --> 00:00:23.349 align:start position:0% the how it works on the how how it it behaves<00:00:21.480> and<00:00:21.760> how<00:00:21.880> to<00:00:22.279> cook 00:00:23.349 --> 00:00:23.359 align:start position:0% behaves and how to cook 00:00:23.359 --> 00:00:26.589 align:start position:0% behaves and how to cook it<00:00:24.359> so<00:00:24.800> have<00:00:24.960> you<00:00:25.119> ever<00:00:25.359> heard<00:00:25.680> of 00:00:26.589 --> 00:00:26.599 align:start position:0% it so have you ever heard of 00:00:26.599 --> 00:00:29.310 align:start position:0% it so have you ever heard of statelessness<00:00:27.599> or<00:00:27.960> maybe<00:00:28.199> you<00:00:28.400> heard<00:00:28.640> of<00:00:28.800> INX 00:00:29.310 --> 00:00:29.320 align:start position:0% statelessness or maybe you heard of INX 00:00:29.320 --> 00:00:32.910 align:start position:0% statelessness or maybe you heard of INX maybe<00:00:29.560> you<00:00:30.160> know<00:00:30.840> know<00:00:31.160> something<00:00:31.880> about 00:00:32.910 --> 00:00:32.920 align:start position:0% maybe you know know something about 00:00:32.920 --> 00:00:36.590 align:start position:0% maybe you know know something about her<00:00:33.920> stat<00:00:34.399> lessness<00:00:34.879> I 00:00:36.590 --> 00:00:36.600 align:start position:0% her stat lessness I 00:00:36.600 --> 00:00:40.790 align:start position:0% her stat lessness I guess<00:00:37.600> so<00:00:38.000> INX<00:00:38.559> is<00:00:38.680> a<00:00:39.480> status<00:00:39.960> layer<00:00:40.320> of 00:00:40.790 --> 00:00:40.800 align:start position:0% guess so INX is a status layer of 00:00:40.800 --> 00:00:44.790 align:start position:0% guess so INX is a status layer of etherium<00:00:41.800> and<00:00:42.160> you<00:00:42.320> can<00:00:42.800> believe<00:00:43.520> that<00:00:44.520> or 00:00:44.790 --> 00:00:44.800 align:start position:0% etherium and you can believe that or 00:00:44.800 --> 00:00:47.029 align:start position:0% etherium and you can believe that or this<00:00:45.000> is<00:00:45.200> surrounding<00:00:45.760> their<00:00:46.039> stateful 00:00:47.029 --> 00:00:47.039 align:start position:0% this is surrounding their stateful 00:00:47.039 --> 00:00:48.750 align:start position:0% this is surrounding their stateful Network 00:00:48.750 --> 00:00:48.760 align:start position:0% Network 00:00:48.760 --> 00:00:52.630 align:start position:0% Network including<00:00:49.760> L<00:00:50.039> one<00:00:50.719> or<00:00:51.680> know<00:00:52.000> the<00:00:52.160> other 00:00:52.630 --> 00:00:52.640 align:start position:0% including L one or know the other 00:00:52.640 --> 00:00:56.389 align:start position:0% including L one or know the other rollups<00:00:54.120> it's<00:00:55.120> providing<00:00:55.640> their<00:00:55.960> extreme 00:00:56.389 --> 00:00:56.399 align:start position:0% rollups it's providing their extreme 00:00:56.399 --> 00:01:00.389 align:start position:0% rollups it's providing their extreme security<00:00:56.960> and<00:00:57.120> privacy<00:00:57.520> at<00:00:57.600> the<00:00:57.719> same<00:00:58.120> time<00:00:59.120> so 00:01:00.389 --> 00:01:00.399 align:start position:0% security and privacy at the same time so 00:01:00.399 --> 00:01:02.750 align:start position:0% security and privacy at the same time so statelessness<00:01:01.399> is 00:01:02.750 --> 00:01:02.760 align:start position:0% statelessness is 00:01:02.760 --> 00:01:06.070 align:start position:0% statelessness is something<00:01:04.119> mysterious<00:01:05.119> sometimes<00:01:05.439> it<00:01:05.680> works 00:01:06.070 --> 00:01:06.080 align:start position:0% something mysterious sometimes it works 00:01:06.080 --> 00:01:09.630 align:start position:0% something mysterious sometimes it works like<00:01:06.280> a<00:01:07.080> privacy<00:01:07.600> coin<00:01:07.960> like<00:01:08.159> Monero<00:01:08.640> or<00:01:08.759> gash 00:01:09.630 --> 00:01:09.640 align:start position:0% like a privacy coin like Monero or gash 00:01:09.640 --> 00:01:12.910 align:start position:0% like a privacy coin like Monero or gash and<00:01:10.640> sometimes<00:01:10.920> it's 00:01:12.910 --> 00:01:12.920 align:start position:0% and sometimes it's 00:01:12.920 --> 00:01:16.670 align:start position:0% and sometimes it's like<00:01:13.920> smart<00:01:14.320> contract<00:01:15.200> platform<00:01:16.200> sometimes 00:01:16.670 --> 00:01:16.680 align:start position:0% like smart contract platform sometimes 00:01:16.680 --> 00:01:20.109 align:start position:0% like smart contract platform sometimes like<00:01:16.960> a<00:01:17.560> no<00:01:17.960> payment<00:01:18.439> system<00:01:18.880> or<00:01:19.280> app<00:01:19.680> specific 00:01:20.109 --> 00:01:20.119 align:start position:0% like a no payment system or app specific 00:01:20.119 --> 00:01:22.149 align:start position:0% like a no payment system or app specific chain<00:01:20.680> sometimes 00:01:22.149 --> 00:01:22.159 align:start position:0% chain sometimes 00:01:22.159 --> 00:01:24.469 align:start position:0% chain sometimes General<00:01:23.159> so<00:01:23.680> I<00:01:23.799> want 00:01:24.469 --> 00:01:24.479 align:start position:0% General so I want 00:01:24.479 --> 00:01:27.469 align:start position:0% General so I want to<00:01:25.479> invite<00:01:25.840> you<00:01:26.000> to<00:01:26.159> the<00:01:26.360> lit<00:01:26.759> Hall<00:01:27.040> of<00:01:27.200> State 00:01:27.469 --> 00:01:27.479 align:start position:0% to invite you to the lit Hall of State 00:01:27.479 --> 00:01:28.670 align:start position:0% to invite you to the lit Hall of State resonance 00:01:28.670 --> 00:01:28.680 align:start position:0% resonance 00:01:28.680 --> 00:01:36.469 align:start position:0% resonance today<00:01:29.680> um<00:01:30.240> how<00:01:30.479> it<00:01:30.799> works<00:01:31.200> as 00:01:36.469 --> 00:01:36.479 align:start position:0% 00:01:36.479 --> 00:01:40.870 align:start position:0% a<00:01:37.479> transform<00:01:38.159> layer<00:01:38.759> of 00:01:40.870 --> 00:01:40.880 align:start position:0% a transform layer of 00:01:40.880 --> 00:01:44.590 align:start position:0% a transform layer of eum<00:01:41.880> so<00:01:42.479> there's<00:01:42.720> a<00:01:42.880> tradeoff<00:01:43.520> of<00:01:43.680> course<00:01:44.200> now 00:01:44.590 --> 00:01:44.600 align:start position:0% eum so there's a tradeoff of course now 00:01:44.600 --> 00:01:47.670 align:start position:0% eum so there's a tradeoff of course now stateless<00:01:45.360> is<00:01:45.680> more<00:01:46.040> and<00:01:46.280> more<00:01:46.560> scalable<00:01:47.240> than 00:01:47.670 --> 00:01:47.680 align:start position:0% stateless is more and more scalable than 00:01:47.680 --> 00:01:51.469 align:start position:0% stateless is more and more scalable than stateful<00:01:48.200> lups<00:01:48.719> and<00:01:48.960> stateful<00:01:49.560> earlier<00:01:50.479> ones 00:01:51.469 --> 00:01:51.479 align:start position:0% stateful lups and stateful earlier ones 00:01:51.479 --> 00:01:55.149 align:start position:0% stateful lups and stateful earlier ones and<00:01:52.280> it's<00:01:52.799> more<00:01:53.240> private<00:01:54.200> and<00:01:54.560> less 00:01:55.149 --> 00:01:55.159 align:start position:0% and it's more private and less 00:01:55.159 --> 00:01:58.310 align:start position:0% and it's more private and less functionality<00:01:56.159> so<00:01:56.880> transfer<00:01:57.640> is<00:01:57.799> the<00:01:58.000> most 00:01:58.310 --> 00:01:58.320 align:start position:0% functionality so transfer is the most 00:01:58.320 --> 00:02:02.389 align:start position:0% functionality so transfer is the most important<00:01:58.759> part<00:01:59.119> of<00:01:59.320> stateless 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we do the conditional payment we can use a<00:02:11.440> Smart<00:02:11.840> contract<00:02:12.760> to<00:02:13.360> process<00:02:13.720> a<00:02:13.879> payment<00:02:14.640> in 00:02:15.110 --> 00:02:15.120 align:start position:0% a Smart contract to process a payment in 00:02:15.120 --> 00:02:18.150 align:start position:0% a Smart contract to process a payment in certain<00:02:15.760> conditions<00:02:16.560> it<00:02:16.720> makes<00:02:17.000> our<00:02:17.319> decks<00:02:18.000> it 00:02:18.150 --> 00:02:18.160 align:start position:0% certain conditions it makes our decks it 00:02:18.160 --> 00:02:21.030 align:start position:0% certain conditions it makes our decks it makes<00:02:18.440> our<00:02:18.680> nftd<00:02:19.200> Marketplace<00:02:20.200> it<00:02:20.360> makes<00:02:20.640> our 00:02:21.030 --> 00:02:21.040 align:start position:0% makes our nftd Marketplace it makes our 00:02:21.040 --> 00:02:24.949 align:start position:0% makes our nftd Marketplace it makes our yeah<00:02:21.200> many<00:02:21.400> many<00:02:21.640> stuffs<00:02:22.040> are<00:02:22.440> know<00:02:22.680> with 00:02:24.949 --> 00:02:24.959 align:start position:0% 00:02:24.959 --> 00:02:28.949 align:start position:0% that<00:02:26.040> so<00:02:27.040> if<00:02:27.200> we<00:02:27.680> talk<00:02:27.959> about<00:02:28.200> the<00:02:28.400> AR 00:02:28.949 --> 00:02:28.959 align:start position:0% that so if we talk about the AR 00:02:28.959 --> 00:02:30.630 align:start position:0% that so if we talk about the AR architecture 00:02:30.630 --> 00:02:30.640 align:start position:0% architecture 00:02:30.640 --> 00:02:33.070 align:start position:0% architecture or<00:02:31.360> relationship<00:02:32.040> with<00:02:32.200> the<00:02:32.319> other<00:02:32.560> networks 00:02:33.070 --> 00:02:33.080 align:start position:0% or relationship with the other networks 00:02:33.080 --> 00:02:36.070 align:start position:0% or relationship with the other networks is<00:02:33.360> like<00:02:33.800> no<00:02:34.080> surrounding<00:02:34.959> or<00:02:35.400> know<00:02:35.680> the 00:02:36.070 --> 00:02:36.080 align:start position:0% is like no surrounding or know the 00:02:36.080 --> 00:02:39.430 align:start position:0% is like no surrounding or know the ethereum<00:02:37.040> ecosystem<00:02:38.040> with 00:02:39.430 --> 00:02:39.440 align:start position:0% ethereum ecosystem with 00:02:39.440 --> 00:02:42.110 align:start position:0% ethereum ecosystem with stateless<00:02:40.440> payment<00:02:40.879> layer<00:02:41.319> or<00:02:41.680> transfer 00:02:42.110 --> 00:02:42.120 align:start position:0% stateless payment layer or transfer 00:02:42.120 --> 00:02:45.550 align:start position:0% stateless payment layer or transfer layer<00:02:42.720> so<00:02:42.879> lups<00:02:43.400> and<00:02:43.760> in<00:02:44.200> ethereums<00:02:45.159> they<00:02:45.360> have 00:02:45.550 --> 00:02:45.560 align:start position:0% layer so lups and in ethereums they have 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um<00:02:57.280> private<00:02:58.040> extremely 00:02:58.630 --> 00:02:58.640 align:start position:0% Unstoppable um private extremely 00:02:58.640 --> 00:03:00.309 align:start position:0% Unstoppable um private extremely scalable 00:03:00.309 --> 00:03:00.319 align:start position:0% scalable 00:03:00.319 --> 00:03:04.350 align:start position:0% scalable there<00:03:01.440> why<00:03:02.440> stateless<00:03:03.040> layer<00:03:03.519> is 00:03:04.350 --> 00:03:04.360 align:start position:0% there why stateless layer is 00:03:04.360 --> 00:03:08.190 align:start position:0% there why stateless layer is so<00:03:05.599> scalable<00:03:06.599> we<00:03:06.720> can<00:03:07.159> summarize<00:03:07.720> that<00:03:07.920> is 00:03:08.190 --> 00:03:08.200 align:start position:0% so scalable we can summarize that is 00:03:08.200 --> 00:03:12.789 align:start position:0% so scalable we can summarize that is because<00:03:09.080> we<00:03:09.720> the<00:03:10.200> by<00:03:10.440> Def<00:03:10.760> it<00:03:11.239> definition<00:03:12.239> it's 00:03:12.789 --> 00:03:12.799 align:start position:0% because we the by Def it definition it's 00:03:12.799 --> 00:03:15.470 align:start position:0% because we the by Def it definition it's all<00:03:13.080> about<00:03:13.440> posting<00:03:13.799> the<00:03:14.040> minimized<00:03:15.000> constant 00:03:15.470 --> 00:03:15.480 align:start position:0% all about posting the minimized constant 00:03:15.480 --> 00:03:19.789 align:start position:0% all about posting the minimized constant data<00:03:15.799> on<00:03:16.640> in<00:03:16.799> a<00:03:17.159> narrow<00:03:18.159> definition<00:03:18.879> of<00:03:19.440> uh<00:03:19.560> in 00:03:19.789 --> 00:03:19.799 align:start position:0% data on in a narrow definition of uh in 00:03:19.799 --> 00:03:22.149 align:start position:0% data on in a narrow definition of uh in cryptography<00:03:20.480> space<00:03:20.840> or<00:03:21.159> cryptography 00:03:22.149 --> 00:03:22.159 align:start position:0% cryptography space or cryptography 00:03:22.159 --> 00:03:24.630 align:start position:0% cryptography space or cryptography Financial<00:03:22.640> cryptography<00:03:23.640> the<00:03:23.879> statelessness 00:03:24.630 --> 00:03:24.640 align:start position:0% Financial cryptography the statelessness 00:03:24.640 --> 00:03:27.710 align:start position:0% Financial cryptography the statelessness is<00:03:24.879> all<00:03:25.159> about<00:03:25.560> the<00:03:25.959> minimum<00:03:26.560> data<00:03:27.200> constant 00:03:27.710 --> 00:03:27.720 align:start position:0% is all about the minimum data constant 00:03:27.720 --> 00:03:30.429 align:start position:0% is all about the minimum data constant minimum<00:03:28.159> data<00:03:28.360> on<00:03:28.519> chain<00:03:29.439> and<00:03:29.799> it<00:03:29.920> meaning 00:03:30.429 --> 00:03:30.439 align:start position:0% minimum data on chain and it meaning 00:03:30.439 --> 00:03:33.550 align:start position:0% minimum data on chain and it meaning that<00:03:31.319> you<00:03:31.480> don't<00:03:31.799> have<00:03:32.000> to<00:03:32.400> annoy 00:03:33.550 --> 00:03:33.560 align:start position:0% that you don't have to annoy 00:03:33.560 --> 00:03:37.910 align:start position:0% that you don't have to annoy by<00:03:34.560> get<00:03:34.799> annoyed<00:03:35.239> by<00:03:35.560> their<00:03:36.280> fluctuation<00:03:37.080> gas 00:03:37.910 --> 00:03:37.920 align:start position:0% by get annoyed by their fluctuation gas 00:03:37.920 --> 00:03:39.990 align:start position:0% by get annoyed by their fluctuation gas because<00:03:38.239> no<00:03:38.400> matter<00:03:38.680> how<00:03:38.799> many<00:03:39.080> people<00:03:39.720> come 00:03:39.990 --> 00:03:40.000 align:start position:0% because no matter how many people come 00:03:40.000 --> 00:03:44.670 align:start position:0% because no matter how many people come to<00:03:40.319> in<00:03:40.799> one<00:03:41.200> network<00:03:42.200> it's<00:03:42.760> constant<00:03:43.720> uh<00:03:44.360> no 00:03:44.670 --> 00:03:44.680 align:start position:0% to in one network it's constant uh no 00:03:44.680 --> 00:03:46.990 align:start position:0% to in one network it's constant uh no cost<00:03:45.000> on<00:03:45.200> chain<00:03:45.599> right<00:03:45.840> in<00:03:45.959> terms<00:03:46.239> of<00:03:46.400> data 00:03:46.990 --> 00:03:47.000 align:start position:0% cost on chain right in terms of data 00:03:47.000 --> 00:03:49.390 align:start position:0% cost on chain right in terms of data cost<00:03:48.000> so 00:03:49.390 --> 00:03:49.400 align:start position:0% cost so 00:03:49.400 --> 00:03:52.990 align:start position:0% cost so surrounding<00:03:50.400> status<00:03:51.000> layer<00:03:51.920> helps<00:03:52.280> their<00:03:52.799> no 00:03:52.990 --> 00:03:53.000 align:start position:0% surrounding status layer helps their no 00:03:53.000 --> 00:03:55.710 align:start position:0% surrounding status layer helps their no many<00:03:53.239> use<00:03:53.560> cases<00:03:54.120> no<00:03:54.400> privacy<00:03:55.400> inter 00:03:55.710 --> 00:03:55.720 align:start position:0% many use cases no privacy inter 00:03:55.720 --> 00:03:58.309 align:start position:0% many use cases no privacy inter properity<00:03:56.640> and<00:03:56.920> constant<00:03:57.360> gas<00:03:57.599> cost 00:03:58.309 --> 00:03:58.319 align:start position:0% properity and constant gas cost 00:03:58.319 --> 00:04:01.509 align:start position:0% properity and constant gas cost eliminating<00:03:59.000> their<00:03:59.239> fluctuate<00:03:59.799> think<00:04:00.000> as<00:04:00.519> we 00:04:01.509 --> 00:04:01.519 align:start position:0% eliminating their fluctuate think as we 00:04:01.519 --> 00:04:07.229 align:start position:0% eliminating their fluctuate think as we so<00:04:02.319> this<00:04:02.439> is<00:04:02.599> a<00:04:03.599> no<00:04:03.920> clear<00:04:04.879> comparison<00:04:06.000> uh<00:04:07.000> with 00:04:07.229 --> 00:04:07.239 align:start position:0% so this is a no clear comparison uh with 00:04:07.239 --> 00:04:09.069 align:start position:0% so this is a no clear comparison uh with each 00:04:09.069 --> 00:04:09.079 align:start position:0% each 00:04:09.079 --> 00:04:11.670 align:start position:0% each other<00:04:10.079> so<00:04:10.640> we 00:04:11.670 --> 00:04:11.680 align:start position:0% other so we 00:04:11.680 --> 00:04:15.589 align:start position:0% other so we can<00:04:12.680> describe<00:04:13.319> this<00:04:13.720> our<00:04:14.120> tradeoff<00:04:14.840> between 00:04:15.589 --> 00:04:15.599 align:start position:0% can describe this our tradeoff between 00:04:15.599 --> 00:04:18.270 align:start position:0% can describe this our tradeoff between uh<00:04:15.840> statefulness<00:04:16.639> and<00:04:16.840> the<00:04:17.160> statelessness<00:04:18.160> in 00:04:18.270 --> 00:04:18.280 align:start position:0% uh statefulness and the statelessness in 00:04:18.280 --> 00:04:24.469 align:start position:0% uh statefulness and the statelessness in a<00:04:18.519> more<00:04:18.799> more<00:04:19.280> detailed<00:04:19.840> way<00:04:20.840> so<00:04:21.199> there<00:04:21.359> are 00:04:24.469 --> 00:04:24.479 align:start position:0% 00:04:24.479 --> 00:04:27.710 align:start position:0% many<00:04:25.479> scalability<00:04:26.240> solutions<00:04:26.919> right<00:04:27.360> so<00:04:27.560> for 00:04:27.710 --> 00:04:27.720 align:start position:0% many scalability solutions right so for 00:04:27.720 --> 00:04:29.990 align:start position:0% many scalability solutions right so for example<00:04:28.080> in<00:04:28.320> Max<00:04:28.560> 2<00:04:28.840> and<00:04:29.080> plasma<00:04:29.440> NEX<00:04:29.639> is<00:04:29.759> is 00:04:29.990 --> 00:04:30.000 align:start position:0% example in Max 2 and plasma NEX is is 00:04:30.000 --> 00:04:32.830 align:start position:0% example in Max 2 and plasma NEX is is coming<00:04:30.240> from<00:04:30.440> inmax<00:04:31.080> it's<00:04:31.280> more<00:04:32.000> focusing<00:04:32.400> on 00:04:32.830 --> 00:04:32.840 align:start position:0% coming from inmax it's more focusing on 00:04:32.840 --> 00:04:35.150 align:start position:0% coming from inmax it's more focusing on statelessness<00:04:33.840> Lightning<00:04:34.199> network<00:04:34.680> is<00:04:34.880> the 00:04:35.150 --> 00:04:35.160 align:start position:0% statelessness Lightning network is the 00:04:35.160 --> 00:04:38.550 align:start position:0% statelessness Lightning network is the most<00:04:35.680> or<00:04:36.520> famous<00:04:37.080> or<00:04:37.360> scalability<00:04:38.080> solution 00:04:38.550 --> 00:04:38.560 align:start position:0% most or famous or scalability solution 00:04:38.560 --> 00:04:43.110 align:start position:0% most or famous or scalability solution in<00:04:38.960> Bitcoin<00:04:39.639> space<00:04:40.639> um<00:04:40.880> plasma<00:04:41.560> is<00:04:41.840> well<00:04:42.600> know 00:04:43.110 --> 00:04:43.120 align:start position:0% in Bitcoin space um plasma is well know 00:04:43.120 --> 00:04:46.629 align:start position:0% in Bitcoin space um plasma is well know discussed<00:04:43.800> are<00:04:44.160> in<00:04:45.039> are<00:04:45.440> five<00:04:45.800> years<00:04:46.360> five 00:04:46.629 --> 00:04:46.639 align:start position:0% discussed are in are five years five 00:04:46.639 --> 00:04:49.909 align:start position:0% discussed are in are five years five years<00:04:47.520> ago<00:04:47.880> or<00:04:48.400> yeah<00:04:48.639> something<00:04:48.919> like<00:04:49.039> that 00:04:49.909 --> 00:04:49.919 align:start position:0% years ago or yeah something like that 00:04:49.919 --> 00:04:54.510 align:start position:0% years ago or yeah something like that 2018s<00:04:50.919> and<00:04:51.600> lups<00:04:52.440> it's<00:04:52.680> buring<00:04:53.479> and<00:04:53.759> the 00:04:54.510 --> 00:04:54.520 align:start position:0% 2018s and lups it's buring and the 00:04:54.520 --> 00:04:57.950 align:start position:0% 2018s and lups it's buring and the maturing<00:04:55.199> right<00:04:55.400> now<00:04:55.680> right<00:04:56.160> so<00:04:56.759> in<00:04:56.960> terms<00:04:57.320> of 00:04:57.950 --> 00:04:57.960 align:start position:0% maturing right now right so in terms of 00:04:57.960 --> 00:05:01.870 align:start position:0% maturing right now right so in terms of this 00:05:01.870 --> 00:05:01.880 align:start position:0% 00:05:01.880 --> 00:05:05.670 align:start position:0% comparison<00:05:02.880> are<00:05:03.600> I<00:05:03.680> don't<00:05:03.880> say<00:05:04.080> it's<00:05:04.320> kind<00:05:04.680> of 00:05:05.670 --> 00:05:05.680 align:start position:0% comparison are I don't say it's kind of 00:05:05.680 --> 00:05:09.029 align:start position:0% comparison are I don't say it's kind of 100%<00:05:06.320> Fair<00:05:07.080> because<00:05:08.080> sometimes<00:05:08.520> know<00:05:08.680> we<00:05:08.840> need 00:05:09.029 --> 00:05:09.039 align:start position:0% 100% Fair because sometimes know we need 00:05:09.039 --> 00:05:11.830 align:start position:0% 100% Fair because sometimes know we need to<00:05:09.240> other<00:05:10.199> privacy<00:05:10.919> which<00:05:11.160> lighting<00:05:11.479> Network 00:05:11.830 --> 00:05:11.840 align:start position:0% to other privacy which lighting Network 00:05:11.840 --> 00:05:14.790 align:start position:0% to other privacy which lighting Network and<00:05:12.039> INX<00:05:12.639> has 00:05:14.790 --> 00:05:14.800 align:start position:0% and INX has 00:05:14.800 --> 00:05:17.749 align:start position:0% and INX has have<00:05:15.800> sometimes<00:05:16.400> our<00:05:16.639> lups<00:05:17.199> have<00:05:17.440> more 00:05:17.749 --> 00:05:17.759 align:start position:0% have sometimes our lups have more 00:05:17.759 --> 00:05:20.070 align:start position:0% have sometimes our lups have more functionality<00:05:18.479> so<00:05:18.680> we<00:05:18.800> need<00:05:19.160> add<00:05:19.400> that<00:05:19.560> so 00:05:20.070 --> 00:05:20.080 align:start position:0% functionality so we need add that so 00:05:20.080 --> 00:05:22.510 align:start position:0% functionality so we need add that so yeah<00:05:20.280> I<00:05:20.440> don't<00:05:20.680> think<00:05:21.000> this<00:05:21.240> our<00:05:21.560> triangle 00:05:22.510 --> 00:05:22.520 align:start position:0% yeah I don't think this our triangle 00:05:22.520 --> 00:05:25.350 align:start position:0% yeah I don't think this our triangle describes<00:05:23.160> everything<00:05:23.720> but<00:05:24.319> basically<00:05:25.160> in 00:05:25.350 --> 00:05:25.360 align:start position:0% describes everything but basically in 00:05:25.360 --> 00:05:28.710 align:start position:0% describes everything but basically in terms<00:05:25.919> of<00:05:26.919> most<00:05:27.280> important<00:05:27.759> part<00:05:28.199> know<00:05:28.479> the 00:05:28.710 --> 00:05:28.720 align:start position:0% terms of most important part know the 00:05:28.720 --> 00:05:31.990 align:start position:0% terms of most important part know the basic<00:05:29.160> us<00:05:29.800> basic<00:05:30.600> safety<00:05:31.240> and<00:05:31.520> the 00:05:31.990 --> 00:05:32.000 align:start position:0% basic us basic safety and the 00:05:32.000 --> 00:05:34.629 align:start position:0% basic us basic safety and the scalability<00:05:33.000> it's<00:05:33.199> all<00:05:33.479> about<00:05:33.759> statelessness 00:05:34.629 --> 00:05:34.639 align:start position:0% scalability it's all about statelessness 00:05:34.639 --> 00:05:37.110 align:start position:0% scalability it's all about statelessness and<00:05:34.840> the<00:05:35.000> capital<00:05:35.360> efficiency<00:05:35.840> and<00:05:36.080> offline 00:05:37.110 --> 00:05:37.120 align:start position:0% and the capital efficiency and offline 00:05:37.120 --> 00:05:40.390 align:start position:0% and the capital efficiency and offline safety<00:05:38.120> if<00:05:38.240> you<00:05:38.400> have<00:05:38.600> a<00:05:39.160> offline<00:05:39.639> safety<00:05:40.280> you 00:05:40.390 --> 00:05:40.400 align:start position:0% safety if you have a offline safety you 00:05:40.400 --> 00:05:43.710 align:start position:0% safety if you have a offline safety you can<00:05:40.720> have<00:05:41.600> no<00:05:42.400> you<00:05:42.520> don't<00:05:42.759> have<00:05:42.919> to<00:05:43.080> run<00:05:43.400> node 00:05:43.710 --> 00:05:43.720 align:start position:0% can have no you don't have to run node 00:05:43.720 --> 00:05:46.590 align:start position:0% can have no you don't have to run node to<00:05:43.919> keep<00:05:44.120> yourself<00:05:44.600> safe<00:05:45.600> and<00:05:46.039> if<00:05:46.160> you<00:05:46.319> have 00:05:46.590 --> 00:05:46.600 align:start position:0% to keep yourself safe and if you have 00:05:46.600 --> 00:05:49.390 align:start position:0% to keep yourself safe and if you have Capital<00:05:47.000> efficiency<00:05:47.600> you<00:05:47.720> can<00:05:48.440> yeah<00:05:48.800> no<00:05:49.080> spend 00:05:49.390 --> 00:05:49.400 align:start position:0% Capital efficiency you can yeah no spend 00:05:49.400 --> 00:05:52.189 align:start position:0% Capital efficiency you can yeah no spend your<00:05:49.639> all<00:05:49.960> money<00:05:50.759> instantly<00:05:51.759> after<00:05:52.039> you 00:05:52.189 --> 00:05:52.199 align:start position:0% your all money instantly after you 00:05:52.199 --> 00:05:55.230 align:start position:0% your all money instantly after you deposit<00:05:52.800> right<00:05:53.600> and<00:05:53.840> statelessness<00:05:54.720> always 00:05:55.230 --> 00:05:55.240 align:start position:0% deposit right and statelessness always 00:05:55.240 --> 00:05:58.070 align:start position:0% deposit right and statelessness always it's<00:05:55.440> all<00:05:55.680> about<00:05:55.880> scity<00:05:56.759> the<00:05:57.080> posting<00:05:57.560> their 00:05:58.070 --> 00:05:58.080 align:start position:0% it's all about scity the posting their 00:05:58.080 --> 00:06:02.189 align:start position:0% it's all about scity the posting their minimize<00:05:58.919> our<00:05:59.240> data<00:05:59.800> chain<00:06:00.479> so<00:06:00.960> this<00:06:01.240> triangle 00:06:02.189 --> 00:06:02.199 align:start position:0% minimize our data chain so this triangle 00:06:02.199 --> 00:06:05.950 align:start position:0% minimize our data chain so this triangle is<00:06:02.520> quite<00:06:02.919> important<00:06:03.479> to<00:06:04.280> have<00:06:04.479> the<00:06:04.960> essential 00:06:05.950 --> 00:06:05.960 align:start position:0% is quite important to have the essential 00:06:05.960 --> 00:06:08.550 align:start position:0% is quite important to have the essential uh<00:06:06.160> scalability<00:06:07.080> of<00:06:07.280> blockchain<00:06:08.240> and<00:06:08.400> in 00:06:08.550 --> 00:06:08.560 align:start position:0% uh scalability of blockchain and in 00:06:08.560 --> 00:06:11.629 align:start position:0% uh scalability of blockchain and in terms<00:06:08.840> of<00:06:09.080> that<00:06:09.639> yeah<00:06:09.759> inmax<00:06:10.240> 2<00:06:10.800> plasma<00:06:11.160> X<00:06:11.440> have 00:06:11.629 --> 00:06:11.639 align:start position:0% terms of that yeah inmax 2 plasma X have 00:06:11.639 --> 00:06:14.230 align:start position:0% terms of that yeah inmax 2 plasma X have a<00:06:11.960> very<00:06:12.199> good<00:06:12.479> triangle<00:06:13.479> and<00:06:13.680> the<00:06:13.880> lightning 00:06:14.230 --> 00:06:14.240 align:start position:0% a very good triangle and the lightning 00:06:14.240 --> 00:06:16.469 align:start position:0% a very good triangle and the lightning network<00:06:14.840> uh<00:06:14.960> it<00:06:15.160> has<00:06:15.360> a<00:06:15.840> it's<00:06:15.960> a<00:06:16.160> great 00:06:16.469 --> 00:06:16.479 align:start position:0% network uh it has a it's a great 00:06:16.479 --> 00:06:19.230 align:start position:0% network uh it has a it's a great scalability<00:06:17.479> but<00:06:18.160> uh<00:06:18.360> Capital<00:06:18.759> efficiency 00:06:19.230 --> 00:06:19.240 align:start position:0% scalability but uh Capital efficiency 00:06:19.240 --> 00:06:22.110 align:start position:0% scalability but uh Capital efficiency and<00:06:19.440> offline<00:06:19.800> safety<00:06:20.160> is<00:06:20.440> quite<00:06:21.160> no 00:06:22.110 --> 00:06:22.120 align:start position:0% and offline safety is quite no 00:06:22.120 --> 00:06:25.430 align:start position:0% and offline safety is quite no challenging<00:06:23.120> and<00:06:23.599> rollups<00:06:24.599> they<00:06:24.840> have<00:06:25.080> a 00:06:25.430 --> 00:06:25.440 align:start position:0% challenging and rollups they have a 00:06:25.440 --> 00:06:27.670 align:start position:0% challenging and rollups they have a quite<00:06:25.840> good<00:06:26.039> ux<00:06:26.520> with<00:06:26.759> capital<00:06:27.120> efficiency 00:06:27.670 --> 00:06:27.680 align:start position:0% quite good ux with capital efficiency 00:06:27.680 --> 00:06:32.270 align:start position:0% quite good ux with capital efficiency and<00:06:27.960> good<00:06:28.199> offline<00:06:28.599> safety<00:06:29.039> but<00:06:29.639> it's<00:06:29.880> less 00:06:32.270 --> 00:06:32.280 align:start position:0% 00:06:32.280 --> 00:06:35.070 align:start position:0% scalable 00:06:35.070 --> 00:06:35.080 align:start position:0% scalable 00:06:35.080 --> 00:06:36.830 align:start position:0% scalable oops 00:06:36.830 --> 00:06:36.840 align:start position:0% oops 00:06:36.840 --> 00:06:41.110 align:start position:0% oops oh<00:06:37.840> okay<00:06:38.400> so<00:06:39.280> yeah<00:06:40.000> I<00:06:40.080> want<00:06:40.240> to<00:06:40.560> introduce 00:06:41.110 --> 00:06:41.120 align:start position:0% oh okay so yeah I want to introduce 00:06:41.120 --> 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we need to have a communication between<00:06:53.919> block<00:06:54.319> producers<00:06:55.160> on<00:06:55.400> the<00:06:55.520> user<00:06:55.879> site 00:06:56.510 --> 00:06:56.520 align:start position:0% between block producers on the user site 00:06:56.520 --> 00:07:00.430 align:start position:0% between block producers on the user site user<00:06:56.960> site<00:06:57.560> receives<00:06:58.039> their<00:06:58.599> Mar<00:06:59.199> proof<00:06:59.919> other 00:07:00.430 --> 00:07:00.440 align:start position:0% user site receives their Mar proof other 00:07:00.440 --> 00:07:03.550 align:start position:0% user site receives their Mar proof other utxo<00:07:01.400> so<00:07:01.919> e 00:07:03.550 --> 00:07:03.560 align:start position:0% utxo so e 00:07:03.560 --> 00:07:06.790 align:start position:0% utxo so e each<00:07:04.560> micro<00:07:05.039> proof<00:07:05.360> given<00:07:05.680> by<00:07:06.199> operator<00:07:06.639> or 00:07:06.790 --> 00:07:06.800 align:start position:0% each micro proof given by operator or 00:07:06.800 --> 00:07:10.950 align:start position:0% each micro proof given by operator or block<00:07:07.080> producer<00:07:07.680> is<00:07:08.319> utxo<00:07:09.319> and<00:07:09.560> utxo<00:07:10.240> itself 00:07:10.950 --> 00:07:10.960 align:start position:0% block producer is utxo and utxo itself 00:07:10.960 --> 00:07:13.990 align:start position:0% block producer is utxo and utxo itself is<00:07:11.080> a<00:07:11.960> yeah<00:07:12.120> micro<00:07:12.520> proof<00:07:12.960> and<00:07:13.120> you<00:07:13.240> can<00:07:13.520> input 00:07:13.990 --> 00:07:14.000 align:start position:0% is a yeah micro proof and you can input 00:07:14.000 --> 00:07:18.150 align:start position:0% is a yeah micro proof and you can input that<00:07:14.680> in<00:07:14.879> their<00:07:15.560> no<00:07:15.759> Z<00:07:16.240> circuit<00:07:17.199> offchain<00:07:17.960> and 00:07:18.150 --> 00:07:18.160 align:start position:0% that in their no Z circuit offchain and 00:07:18.160 --> 00:07:20.629 align:start position:0% that in their no Z circuit offchain and the<00:07:18.360> basically<00:07:18.800> you<00:07:18.960> can<00:07:19.680> uh<00:07:19.960> sign<00:07:20.319> back<00:07:20.520> to 00:07:20.629 --> 00:07:20.639 align:start position:0% the basically you can uh sign back to 00:07:20.639 --> 00:07:24.790 align:start position:0% the basically you can uh sign back to the<00:07:20.840> blocker<00:07:21.599> producer<00:07:22.199> to<00:07:23.199> yeah<00:07:23.599> prevent<00:07:24.599> uh 00:07:24.790 --> 00:07:24.800 align:start position:0% the blocker producer to yeah prevent uh 00:07:24.800 --> 00:07:27.909 align:start position:0% the blocker producer to yeah prevent uh skipping<00:07:25.280> this<00:07:25.639> uh<00:07:26.319> procedure<00:07:27.319> then 00:07:27.909 --> 00:07:27.919 align:start position:0% skipping this uh procedure then 00:07:27.919 --> 00:07:30.869 align:start position:0% skipping this uh procedure then basically<00:07:28.639> you<00:07:28.960> it<00:07:29.199> Mak<00:07:29.520> making<00:07:29.680> sure<00:07:30.039> that<00:07:30.560> uh 00:07:30.869 --> 00:07:30.879 align:start position:0% basically you it Mak making sure that uh 00:07:30.879 --> 00:07:34.309 align:start position:0% basically you it Mak making sure that uh you<00:07:31.280> guys<00:07:31.919> can<00:07:32.280> have<00:07:32.479> your<00:07:32.800> data<00:07:33.800> uh<00:07:33.919> on<00:07:34.120> your 00:07:34.309 --> 00:07:34.319 align:start position:0% you guys can have your data uh on your 00:07:34.319 --> 00:07:36.990 align:start position:0% you guys can have your data uh on your client<00:07:34.840> side<00:07:35.639> then 00:07:36.990 --> 00:07:37.000 align:start position:0% client side then 00:07:37.000 --> 00:07:40.629 align:start position:0% client side then yeah<00:07:38.000> this<00:07:38.160> is<00:07:38.400> how<00:07:38.560> to<00:07:38.840> make<00:07:39.080> her<00:07:39.520> know<00:07:39.960> safety 00:07:40.629 --> 00:07:40.639 align:start position:0% yeah this is how to make her know safety 00:07:40.639 --> 00:07:43.270 align:start position:0% yeah this is how to make her know safety in<00:07:40.840> this<00:07:41.080> communication<00:07:42.039> compare<00:07:42.560> with<00:07:42.759> zkp 00:07:43.270 --> 00:07:43.280 align:start position:0% in this communication compare with zkp 00:07:43.280 --> 00:07:48.390 align:start position:0% in this communication compare with zkp and<00:07:43.680> our<00:07:43.919> block<00:07:44.199> producing 00:07:48.390 --> 00:07:48.400 align:start position:0% 00:07:48.400 --> 00:07:51.790 align:start position:0% onchain<00:07:49.400> yeah<00:07:49.599> so<00:07:49.960> proof<00:07:50.280> update<00:07:51.199> no<00:07:51.479> it's 00:07:51.790 --> 00:07:51.800 align:start position:0% onchain yeah so proof update no it's 00:07:51.800 --> 00:07:52.909 align:start position:0% onchain yeah so proof update no it's like 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proof<00:08:03.919> is<00:08:04.120> not<00:08:04.360> spent<00:08:05.240> after<00:08:05.599> that<00:08:06.039> right 00:08:06.430 --> 00:08:06.440 align:start position:0% your proof is not spent after that right 00:08:06.440 --> 00:08:08.950 align:start position:0% your proof is not spent after that right and<00:08:06.680> basically<00:08:07.120> we<00:08:07.280> can<00:08:07.599> apply<00:08:08.000> the<00:08:08.199> no 00:08:08.950 --> 00:08:08.960 align:start position:0% and basically we can apply the no 00:08:08.960 --> 00:08:12.869 align:start position:0% and basically we can apply the no transaction<00:08:09.960> uh<00:08:10.360> proof<00:08:11.199> after<00:08:11.599> you<00:08:12.280> no<00:08:12.759> you 00:08:12.869 --> 00:08:12.879 align:start position:0% transaction uh proof after you no you 00:08:12.879 --> 00:08:16.149 align:start position:0% transaction uh proof after you no you were<00:08:13.120> given<00:08:13.440> there<00:08:13.800> no<00:08:13.960> micro<00:08:14.400> proof<00:08:14.759> or<00:08:15.280> no<00:08:15.599> by 00:08:16.149 --> 00:08:16.159 align:start position:0% were given there no micro proof or no by 00:08:16.159 --> 00:08:20.270 align:start position:0% were given there no micro proof or no by block<00:08:16.759> producer<00:08:17.759> then<00:08:18.240> you<00:08:18.440> can<00:08:19.440> prove<00:08:19.800> that 00:08:20.270 --> 00:08:20.280 align:start position:0% block producer then you can prove that 00:08:20.280 --> 00:08:23.869 align:start position:0% block producer then you can prove that you<00:08:20.479> didn't<00:08:20.879> spend<00:08:21.520> your<00:08:21.800> money<00:08:22.479> after<00:08:23.199> no<00:08:23.639> you 00:08:23.869 --> 00:08:23.879 align:start position:0% you didn't spend your money after no you 00:08:23.879 --> 00:08:26.869 align:start position:0% you didn't spend your money after no you you<00:08:24.039> got<00:08:24.280> this<00:08:24.479> proof<00:08:25.120> then<00:08:26.080> this<00:08:26.360> proof<00:08:26.680> is 00:08:26.869 --> 00:08:26.879 align:start position:0% you got this proof then this proof is 00:08:26.879 --> 00:08:29.990 align:start position:0% you got this proof then this proof is still<00:08:27.199> valid<00:08:27.919> after<00:08:28.280> your<00:08:28.599> block<00:08:28.960> is<00:08:29.720> after 00:08:29.990 --> 00:08:30.000 align:start position:0% still valid after your block is after 00:08:30.000 --> 00:08:33.110 align:start position:0% still valid after your block is after the<00:08:30.159> block<00:08:30.440> is<00:08:30.639> changed<00:08:31.199> or<00:08:32.120> after<00:08:32.440> we<00:08:32.599> have<00:08:32.839> a 00:08:33.110 --> 00:08:33.120 align:start position:0% the block is changed or after we have a 00:08:33.120 --> 00:08:35.509 align:start position:0% the block is changed or after we have a new<00:08:33.360> block<00:08:33.640> or 00:08:35.509 --> 00:08:35.519 align:start position:0% new block or 00:08:35.519 --> 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can<00:08:45.959> increase<00:08:46.480> a<00:08:46.959> 10,000<00:08:47.959> uh 00:08:48.470 --> 00:08:48.480 align:start position:0% transaction you can increase a 10,000 uh 00:08:48.480 --> 00:08:51.829 align:start position:0% transaction you can increase a 10,000 uh transfer<00:08:49.480> uh<00:08:49.920> to<00:08:50.440> to<00:08:50.720> that<00:08:51.160> five<00:08:51.440> by 00:08:51.829 --> 00:08:51.839 align:start position:0% transfer uh to to that five by 00:08:51.839 --> 00:08:55.150 align:start position:0% transfer uh to to that five by transaction<00:08:52.839> cost<00:08:53.640> without<00:08:54.320> any<00:08:54.640> additional 00:08:55.150 --> 00:08:55.160 align:start position:0% transaction cost without any additional 00:08:55.160 --> 00:08:57.550 align:start position:0% transaction cost without any additional data<00:08:55.760> now<00:08:56.000> this<00:08:56.120> is<00:08:56.279> a<00:08:56.720> quite<00:08:57.040> a<00:08:57.279> big 00:08:57.550 --> 00:08:57.560 align:start position:0% data now this is a quite a big 00:08:57.560 --> 00:09:00.430 align:start position:0% data now this is a quite a big achievement<00:08:58.160> we<00:08:58.399> had<00:08:59.040> for<00:08:59.200> for<00:08:59.600> this<00:08:59.959> to<00:09:00.160> make 00:09:00.430 --> 00:09:00.440 align:start position:0% achievement we had for for this to make 00:09:00.440 --> 00:09:04.509 align:start position:0% achievement we had for for this to make this<00:09:00.600> stateless<00:09:01.160> payment 00:09:04.509 --> 00:09:04.519 align:start position:0% 00:09:04.519 --> 00:09:08.069 align:start position:0% layer<00:09:05.519> and<00:09:05.839> how<00:09:06.000> to<00:09:06.320> make<00:09:06.680> sure<00:09:07.120> that<00:09:07.600> uh<00:09:07.800> your 00:09:08.069 --> 00:09:08.079 align:start position:0% layer and how to make sure that uh your 00:09:08.079 --> 00:09:11.389 align:start position:0% layer and how to make sure that uh your utx<00:09:08.680> or<00:09:08.880> given<00:09:09.240> mro<00:09:09.680> proof<00:09:10.000> is<00:09:10.240> safe<00:09:10.760> no<00:09:11.279> you 00:09:11.389 --> 00:09:11.399 align:start position:0% utx or given mro proof is safe no you 00:09:11.399 --> 00:09:14.230 align:start position:0% utx or given mro proof is safe no you can<00:09:11.640> prove<00:09:12.000> that<00:09:12.320> no<00:09:12.800> it's<00:09:13.000> not<00:09:13.560> spent<00:09:13.959> after 00:09:14.230 --> 00:09:14.240 align:start position:0% can prove that no it's not spent after 00:09:14.240 --> 00:09:17.350 align:start position:0% can prove that no it's not spent after that<00:09:14.480> but<00:09:15.320> your<00:09:16.320> kind<00:09:16.519> of<00:09:16.760> incoming 00:09:17.350 --> 00:09:17.360 align:start position:0% that but your kind of incoming 00:09:17.360 --> 00:09:20.030 align:start position:0% that but your kind of incoming transaction<00:09:17.880> or<00:09:18.120> incoming<00:09:18.680> utx<00:09:19.160> so<00:09:19.680> how<00:09:19.920> how 00:09:20.030 --> 00:09:20.040 align:start position:0% transaction or incoming utx so how how 00:09:20.040 --> 00:09:23.069 align:start position:0% transaction or incoming utx so how how to<00:09:20.279> make<00:09:20.519> sure<00:09:20.880> that<00:09:21.160> you<00:09:21.399> you<00:09:22.240> know<00:09:22.519> it's<00:09:22.760> safe 00:09:23.069 --> 00:09:23.079 align:start position:0% to make sure that you you know it's safe 00:09:23.079 --> 00:09:25.750 align:start position:0% to make sure that you you know it's safe and<00:09:23.279> it's<00:09:23.519> true<00:09:23.800> money<00:09:24.800> it's<00:09:24.959> a<00:09:25.240> interest 00:09:25.750 --> 00:09:25.760 align:start position:0% and it's true money it's a interest 00:09:25.760 --> 00:09:28.389 align:start position:0% and it's true money it's a interest chain<00:09:26.120> of<00:09:26.800> the<00:09:27.000> balance<00:09:27.360> proof<00:09:27.760> right<00:09:27.959> no<00:09:28.200> your 00:09:28.389 --> 00:09:28.399 align:start position:0% chain of the balance proof right no your 00:09:28.399 --> 00:09:31.790 align:start position:0% chain of the balance proof right no your utxo<00:09:29.040> is<00:09:29.160> coming<00:09:29.640> from<00:09:30.360> another<00:09:30.800> person<00:09:31.440> and 00:09:31.790 --> 00:09:31.800 align:start position:0% utxo is coming from another person and 00:09:31.800 --> 00:09:34.389 align:start position:0% utxo is coming from another person and another<00:09:32.240> person<00:09:32.959> got<00:09:33.279> that<00:09:33.760> from<00:09:34.040> another 00:09:34.389 --> 00:09:34.399 align:start position:0% another person got that from another 00:09:34.399 --> 00:09:36.230 align:start position:0% another person got that from another person<00:09:34.720> right<00:09:34.880> it's<00:09:35.000> the<00:09:35.120> endless<00:09:35.560> chain<00:09:35.839> of 00:09:36.230 --> 00:09:36.240 align:start position:0% person right it's the endless chain of 00:09:36.240 --> 00:09:39.790 align:start position:0% person right it's the endless chain of transition<00:09:37.240> uh<00:09:37.480> of<00:09:37.680> UD<00:09:37.959> XO<00:09:38.600> or<00:09:38.959> the<00:09:39.240> ownership 00:09:39.790 --> 00:09:39.800 align:start position:0% transition uh of UD XO or the ownership 00:09:39.800 --> 00:09:44.990 align:start position:0% transition uh of UD XO or the ownership of<00:09:40.000> UD<00:09:40.320> EXO<00:09:40.760> right<00:09:41.480> so<00:09:42.480> we<00:09:42.800> can<00:09:43.800> so<00:09:44.279> in<00:09:44.600> some 00:09:44.990 --> 00:09:45.000 align:start position:0% of UD EXO right so we can so in some 00:09:45.000 --> 00:09:46.910 align:start position:0% of UD EXO right so we can so in some client<00:09:45.800> ver 00:09:46.910 --> 00:09:46.920 align:start position:0% client ver 00:09:46.920 --> 00:09:51.030 align:start position:0% client ver verification<00:09:48.399> or<00:09:49.399> client<00:09:49.920> side<00:09:50.240> client<00:09:50.760> side 00:09:51.030 --> 00:09:51.040 align:start position:0% verification or client side client side 00:09:51.040 --> 00:09:55.870 align:start position:0% verification or client side client side or<00:09:51.560> validation<00:09:52.200> project<00:09:53.120> however<00:09:54.040> no 00:09:55.870 --> 00:09:55.880 align:start position:0% or validation project however no 00:09:55.880 --> 00:09:59.430 align:start position:0% or validation project however no infinite<00:09:57.000> lengths<00:09:58.000> of<00:09:58.360> this<00:09:58.760> verification 00:09:59.430 --> 00:09:59.440 align:start position:0% infinite lengths of this verification 00:09:59.440 --> 00:10:04.030 align:start position:0% infinite lengths of this verification actually<00:10:00.279> and<00:10:00.560> how<00:10:00.680> to<00:10:01.120> make<00:10:02.480> it<00:10:03.480> efficient 00:10:04.030 --> 00:10:04.040 align:start position:0% actually and how to make it efficient 00:10:04.040 --> 00:10:06.590 align:start position:0% actually and how to make it efficient enough<00:10:04.680> to<00:10:05.040> be 00:10:06.590 --> 00:10:06.600 align:start position:0% enough to be 00:10:06.600 --> 00:10:09.910 align:start position:0% enough to be practical<00:10:07.600> so<00:10:07.880> we<00:10:08.040> can<00:10:08.399> obviously<00:10:09.000> apply<00:10:09.399> the 00:10:09.910 --> 00:10:09.920 align:start position:0% practical so we can obviously apply the 00:10:09.920 --> 00:10:12.910 align:start position:0% practical so we can obviously apply the recursive<00:10:10.560> zkp<00:10:11.200> right<00:10:11.720> this<00:10:11.880> is<00:10:12.000> the<00:10:12.360> endless 00:10:12.910 --> 00:10:12.920 align:start position:0% recursive zkp right this is the endless 00:10:12.920 --> 00:10:15.389 align:start position:0% recursive zkp right this is the endless recursive<00:10:13.440> zkp 00:10:15.389 --> 00:10:15.399 align:start position:0% recursive zkp 00:10:15.399 --> 00:10:18.190 align:start position:0% recursive zkp so<00:10:16.399> in<00:10:16.680> this<00:10:17.000> architecture<00:10:17.600> so<00:10:17.800> basically<00:10:18.120> you 00:10:18.190 --> 00:10:18.200 align:start position:0% so in this architecture so basically you 00:10:18.200 --> 00:10:19.670 align:start position:0% so in this architecture so basically you can<00:10:18.320> see 00:10:19.670 --> 00:10:19.680 align:start position:0% can see 00:10:19.680 --> 00:10:24.030 align:start position:0% can see thatp<00:10:20.680> n<00:10:20.880> minus<00:10:21.200> 2<00:10:21.600> is<00:10:22.079> Prov<00:10:22.680> n<00:10:22.880> minus<00:10:23.240> one<00:10:23.800> and 00:10:24.030 --> 00:10:24.040 align:start position:0% thatp n minus 2 is Prov n minus one and 00:10:24.040 --> 00:10:29.150 align:start position:0% thatp n minus 2 is Prov n minus one and the<00:10:24.240> DPN<00:10:24.880> minus<00:10:25.200> one<00:10:25.839> is<00:10:26.839> proven<00:10:27.320> in<00:10:27.680> our<00:10:28.160> DPN 00:10:29.150 --> 00:10:29.160 align:start position:0% the DPN minus one is proven in our DPN 00:10:29.160 --> 00:10:31.750 align:start position:0% the DPN minus one is proven in our DPN and<00:10:29.320> and<00:10:29.600> this<00:10:29.720> is<00:10:29.800> a<00:10:30.000> end<00:10:30.399> chain<00:10:30.600> of<00:10:30.760> zkp<00:10:31.279> right 00:10:31.750 --> 00:10:31.760 align:start position:0% and and this is a end chain of zkp right 00:10:31.760 --> 00:10:36.190 align:start position:0% and and this is a end chain of zkp right so<00:10:32.240> once<00:10:32.680> once<00:10:32.880> you<00:10:33.079> verify<00:10:33.839> the<00:10:34.839> previous<00:10:35.240> zkp 00:10:36.190 --> 00:10:36.200 align:start position:0% so once once you verify the previous zkp 00:10:36.200 --> 00:10:39.670 align:start position:0% so once once you verify the previous zkp no<00:10:36.720> this<00:10:37.320> proves<00:10:37.639> the<00:10:37.880> entire<00:10:38.399> history<00:10:38.760> of<00:10:38.959> DGP 00:10:39.670 --> 00:10:39.680 align:start position:0% no this proves the entire history of DGP 00:10:39.680 --> 00:10:42.069 align:start position:0% no this proves the entire history of DGP at<00:10:39.839> the<00:10:39.959> same<00:10:40.200> time<00:10:40.480> right<00:10:40.680> so<00:10:40.920> because<00:10:41.320> no 00:10:42.069 --> 00:10:42.079 align:start position:0% at the same time right so because no 00:10:42.079 --> 00:10:44.030 align:start position:0% at the same time right so because no yeah<00:10:42.560> it's<00:10:42.800> already<00:10:43.120> proven<00:10:43.519> the<00:10:43.680> previous 00:10:44.030 --> 00:10:44.040 align:start position:0% yeah it's already proven the previous 00:10:44.040 --> 00:10:46.470 align:start position:0% yeah it's already proven the previous one<00:10:44.200> and<00:10:44.360> the<00:10:44.600> previous<00:10:45.000> one<00:10:45.560> already<00:10:46.079> proven 00:10:46.470 --> 00:10:46.480 align:start position:0% one and the previous one already proven 00:10:46.480 --> 00:10:48.430 align:start position:0% one and the previous one already proven the<00:10:46.680> previous<00:10:47.000> one<00:10:47.279> previous<00:10:47.639> previous<00:10:47.959> one 00:10:48.430 --> 00:10:48.440 align:start position:0% the previous one previous previous one 00:10:48.440 --> 00:10:53.990 align:start position:0% the previous one previous previous one right<00:10:49.160> so<00:10:50.160> this<00:10:50.760> chain<00:10:51.160> of<00:10:51.360> zgp<00:10:51.880> is<00:10:52.760> extremely 00:10:53.990 --> 00:10:54.000 align:start position:0% right so this chain of zgp is extremely 00:10:54.000 --> 00:10:55.790 align:start position:0% right so this chain of zgp is extremely or 00:10:55.790 --> 00:10:55.800 align:start position:0% or 00:10:55.800 --> 00:10:58.310 align:start position:0% or extremely<00:10:56.800> efficient<00:10:57.320> way<00:10:57.480> to<00:10:57.680> verify<00:10:58.120> the 00:10:58.310 --> 00:10:58.320 align:start position:0% extremely efficient way to verify the 00:10:58.320 --> 00:11:01.269 align:start position:0% extremely efficient way to verify the entire<00:10:58.680> history<00:10:58.959> of<00:10:59.480> XO<00:11:00.200> once<00:11:00.440> you<00:11:00.680> verify<00:11:01.120> the 00:11:01.269 --> 00:11:01.279 align:start position:0% entire history of XO once you verify the 00:11:01.279 --> 00:11:04.750 align:start position:0% entire history of XO once you verify the previous<00:11:01.680> one<00:11:02.360> no<00:11:03.360> simultaneously<00:11:04.279> it<00:11:04.399> mean 00:11:04.750 --> 00:11:04.760 align:start position:0% previous one no simultaneously it mean 00:11:04.760 --> 00:11:07.990 align:start position:0% previous one no simultaneously it mean that<00:11:05.040> no<00:11:05.279> you<00:11:05.680> verify<00:11:06.200> and<00:11:06.519> prove<00:11:06.920> that<00:11:07.480> entire 00:11:07.990 --> 00:11:08.000 align:start position:0% that no you verify and prove that entire 00:11:08.000 --> 00:11:10.550 align:start position:0% that no you verify and prove that entire history<00:11:08.360> of<00:11:08.600> UD<00:11:08.880> XO<00:11:09.320> and<00:11:09.519> the<00:11:09.720> entire<00:11:10.240> history 00:11:10.550 --> 00:11:10.560 align:start position:0% history of UD XO and the entire history 00:11:10.560 --> 00:11:13.870 align:start position:0% history of UD XO and the entire history of<00:11:10.720> zgb<00:11:11.160> chain<00:11:11.920> is 00:11:13.870 --> 00:11:13.880 align:start position:0% of zgb chain is 00:11:13.880 --> 00:11:16.670 align:start position:0% of zgb chain is valid<00:11:14.880> so<00:11:15.399> coming<00:11:15.680> back<00:11:15.839> to<00:11:16.000> the<00:11:16.360> previous 00:11:16.670 --> 00:11:16.680 align:start position:0% valid so coming back to the previous 00:11:16.680 --> 00:11:19.110 align:start position:0% valid so coming back to the previous slide<00:11:17.000> it's<00:11:17.160> the<00:11:17.320> endless<00:11:17.760> chain<00:11:18.040> of<00:11:18.200> zkp<00:11:18.959> and 00:11:19.110 --> 00:11:19.120 align:start position:0% slide it's the endless chain of zkp and 00:11:19.120 --> 00:11:22.710 align:start position:0% slide it's the endless chain of zkp and the<00:11:19.200> endless<00:11:19.639> chain<00:11:19.920> of<00:11:20.040> the<00:11:20.360> utxo<00:11:21.480> passed<00:11:22.480> uh 00:11:22.710 --> 00:11:22.720 align:start position:0% the endless chain of the utxo passed uh 00:11:22.720 --> 00:11:26.269 align:start position:0% the endless chain of the utxo passed uh offchain<00:11:23.720> nothing<00:11:24.320> go<00:11:24.639> on<00:11:24.920> chain<00:11:25.720> and<00:11:26.000> the 00:11:26.269 --> 00:11:26.279 align:start position:0% offchain nothing go on chain and the 00:11:26.279 --> 00:11:29.910 align:start position:0% offchain nothing go on chain and the this<00:11:27.040> goes<00:11:27.920> simultaneously<00:11:28.920> on<00:11:29.320> each<00:11:29.519> client 00:11:29.910 --> 00:11:29.920 align:start position:0% this goes simultaneously on each client 00:11:29.920 --> 00:11:32.069 align:start position:0% this goes simultaneously on each client side<00:11:30.279> so<00:11:30.560> if<00:11:30.720> there<00:11:30.839> are<00:11:31.079> million<00:11:31.519> users 00:11:32.069 --> 00:11:32.079 align:start position:0% side so if there are million users 00:11:32.079 --> 00:11:34.470 align:start position:0% side so if there are million users million<00:11:32.519> label<00:11:33.000> priorization<00:11:34.000> if<00:11:34.160> there<00:11:34.279> are 00:11:34.470 --> 00:11:34.480 align:start position:0% million label priorization if there are 00:11:34.480 --> 00:11:36.829 align:start position:0% million label priorization if there are billion<00:11:34.880> users<00:11:35.519> billion<00:11:35.920> label<00:11:36.200> priorization 00:11:36.829 --> 00:11:36.839 align:start position:0% billion users billion label priorization 00:11:36.839 --> 00:11:39.389 align:start position:0% billion users billion label priorization happen<00:11:37.160> in<00:11:37.639> each<00:11:37.880> client 00:11:39.389 --> 00:11:39.399 align:start position:0% happen in each client 00:11:39.399 --> 00:11:44.470 align:start position:0% happen in each client s<00:11:40.720> so<00:11:41.720> yeah<00:11:42.440> I<00:11:42.600> want<00:11:42.800> to<00:11:43.120> make<00:11:43.279> it<00:11:43.440> short<00:11:43.839> so 00:11:44.470 --> 00:11:44.480 align:start position:0% s so yeah I want to make it short so 00:11:44.480 --> 00:11:47.310 align:start position:0% s so yeah I want to make it short so yeah<00:11:44.760> the<00:11:45.320> last<00:11:45.680> advertisement<00:11:46.440> is<00:11:46.680> like<00:11:47.120> yeah 00:11:47.310 --> 00:11:47.320 align:start position:0% yeah the last advertisement is like yeah 00:11:47.320 --> 00:11:50.829 align:start position:0% yeah the last advertisement is like yeah one<00:11:47.600> transaction<00:11:48.160> you<00:11:48.320> can<00:11:48.800> increase<00:11:49.320> an<00:11:50.200> no 00:11:50.829 --> 00:11:50.839 align:start position:0% one transaction you can increase an no 00:11:50.839 --> 00:11:53.430 align:start position:0% one transaction you can increase an no almost<00:11:51.200> unlimited<00:11:51.760> number<00:11:52.000> of<00:11:52.399> transfers<00:11:53.279> uh 00:11:53.430 --> 00:11:53.440 align:start position:0% almost unlimited number of transfers uh 00:11:53.440 --> 00:11:57.509 align:start position:0% almost unlimited number of transfers uh in<00:11:53.600> one<00:11:53.880> transaction<00:11:54.760> without<00:11:55.560> adding<00:11:56.560> uh<00:11:56.720> any 00:11:57.509 --> 00:11:57.519 align:start position:0% in one transaction without adding uh any 00:11:57.519 --> 00:12:00.389 align:start position:0% in one transaction without adding uh any uh<00:11:57.839> onine<00:11:58.320> data<00:11:58.839> basically<00:11:59.399> it's<00:11:59.600> constant 00:12:00.389 --> 00:12:00.399 align:start position:0% uh onine data basically it's constant 00:12:00.399 --> 00:12:04.590 align:start position:0% uh onine data basically it's constant and<00:12:00.800> you<00:12:00.959> can<00:12:01.680> Pro<00:12:02.680> yeah 00:12:04.590 --> 00:12:04.600 align:start position:0% and you can Pro yeah 00:12:04.600 --> 00:12:08.110 align:start position:0% and you can Pro yeah no<00:12:05.600> aggregate<00:12:06.200> so<00:12:06.360> many 00:12:08.110 --> 00:12:08.120 align:start position:0% no aggregate so many 00:12:08.120 --> 00:12:11.110 align:start position:0% no aggregate so many transactions<00:12:09.120> and<00:12:09.480> everything<00:12:09.839> will<00:12:10.079> be 00:12:11.110 --> 00:12:11.120 align:start position:0% transactions and everything will be 00:12:11.120 --> 00:12:14.829 align:start position:0% transactions and everything will be totally<00:12:12.120> private<00:12:13.079> and<00:12:13.480> everything<00:12:14.480> will<00:12:14.639> be 00:12:14.829 --> 00:12:14.839 align:start position:0% totally private and everything will be 00:12:14.839 --> 00:12:18.470 align:start position:0% totally private and everything will be totally<00:12:15.519> peer-to-peer<00:12:16.000> so<00:12:17.000> this<00:12:17.160> is<00:12:17.320> a<00:12:17.920> no 00:12:18.470 --> 00:12:18.480 align:start position:0% totally peer-to-peer so this is a no 00:12:18.480 --> 00:12:19.990 align:start position:0% totally peer-to-peer so this is a no construction<00:12:19.079> and<00:12:19.240> the 00:12:19.990 --> 00:12:20.000 align:start position:0% construction and the 00:12:20.000 --> 00:12:23.829 align:start position:0% construction and the surprising<00:12:21.000> uh<00:12:21.240> result<00:12:22.040> which<00:12:22.240> we 00:12:23.829 --> 00:12:23.839 align:start position:0% surprising uh result which we 00:12:23.839 --> 00:12:27.710 align:start position:0% surprising uh result which we made<00:12:24.839> and<00:12:25.240> at<00:12:25.399> the<00:12:25.639> last<00:12:26.639> we<00:12:26.839> need<00:12:27.160> say<00:12:27.480> that 00:12:27.710 --> 00:12:27.720 align:start position:0% made and at the last we need say that 00:12:27.720 --> 00:12:30.230 align:start position:0% made and at the last we need say that how<00:12:27.920> we<00:12:28.160> base<00:12:28.480> roll<00:12:28.720> up<00:12:29.360> and<00:12:29.639> what<00:12:29.800> is<00:12:30.000> base 00:12:30.230 --> 00:12:30.240 align:start position:0% how we base roll up and what is base 00:12:30.240 --> 00:12:32.670 align:start position:0% how we base roll up and what is base rollup<00:12:31.040> yeah<00:12:31.199> basically<00:12:31.600> Justin<00:12:31.920> Drake<00:12:32.519> come 00:12:32.670 --> 00:12:32.680 align:start position:0% rollup yeah basically Justin Drake come 00:12:32.680 --> 00:12:35.430 align:start position:0% rollup yeah basically Justin Drake come up<00:12:32.880> with<00:12:33.320> this<00:12:33.480> idea<00:12:33.920> and<00:12:34.399> according<00:12:34.760> to<00:12:35.000> him 00:12:35.430 --> 00:12:35.440 align:start position:0% up with this idea and according to him 00:12:35.440 --> 00:12:40.030 align:start position:0% up with this idea and according to him uh<00:12:35.600> we<00:12:36.279> our<00:12:36.600> team<00:12:37.320> found<00:12:37.760> the<00:12:38.240> concept<00:12:38.839> of<00:12:39.760> Base 00:12:40.030 --> 00:12:40.040 align:start position:0% uh we our team found the concept of Base 00:12:40.040 --> 00:12:43.310 align:start position:0% uh we our team found the concept of Base rollup<00:12:41.000> independently<00:12:42.000> a<00:12:42.120> bit<00:12:42.360> later<00:12:43.040> than 00:12:43.310 --> 00:12:43.320 align:start position:0% rollup independently a bit later than 00:12:43.320 --> 00:12:47.310 align:start position:0% rollup independently a bit later than him<00:12:44.240> and<00:12:44.680> basically<00:12:45.639> INX<00:12:46.199> to<00:12:46.360> is<00:12:46.519> base<00:12:46.760> rollup 00:12:47.310 --> 00:12:47.320 align:start position:0% him and basically INX to is base rollup 00:12:47.320 --> 00:12:49.509 align:start position:0% him and basically INX to is base rollup and<00:12:47.519> base<00:12:47.800> rollup<00:12:48.160> means<00:12:48.480> that<00:12:49.040> it's 00:12:49.509 --> 00:12:49.519 align:start position:0% and base rollup means that it's 00:12:49.519 --> 00:12:52.230 align:start position:0% and base rollup means that it's interoperable<00:12:50.519> with<00:12:50.720> the<00:12:50.880> other<00:12:51.160> rollups<00:12:51.959> uh 00:12:52.230 --> 00:12:52.240 align:start position:0% interoperable with the other rollups uh 00:12:52.240 --> 00:12:54.670 align:start position:0% interoperable with the other rollups uh especially<00:12:52.800> the<00:12:52.920> other<00:12:53.320> D<00:12:53.680> rollups<00:12:54.199> uh<00:12:54.399> base 00:12:54.670 --> 00:12:54.680 align:start position:0% especially the other D rollups uh base 00:12:54.680 --> 00:12:58.509 align:start position:0% especially the other D rollups uh base rollups<00:12:55.600> so<00:12:56.600> basically<00:12:57.079> concept<00:12:57.519> of<00:12:58.199> Base 00:12:58.509 --> 00:12:58.519 align:start position:0% rollups so basically concept of Base 00:12:58.519 --> 00:13:01.430 align:start position:0% rollups so basically concept of Base rollup<00:12:59.000> is<00:12:59.199> is<00:12:59.399> making<00:13:00.360> many<00:13:00.680> many<00:13:01.040> layer 00:13:01.430 --> 00:13:01.440 align:start position:0% rollup is is making many many layer 00:13:01.440 --> 00:13:06.470 align:start position:0% rollup is is making many many layer tools<00:13:02.240> one<00:13:02.639> big<00:13:02.880> layer<00:13:03.560> to<00:13:04.560> and<00:13:04.839> it's<00:13:05.000> the<00:13:05.480> most 00:13:06.470 --> 00:13:06.480 align:start position:0% tools one big layer to and it's the most 00:13:06.480 --> 00:13:09.550 align:start position:0% tools one big layer to and it's the most yeah<00:13:06.680> recently<00:13:07.360> I<00:13:07.800> found<00:13:08.079> that<00:13:08.279> is<00:13:08.399> the<00:13:08.600> most 00:13:09.550 --> 00:13:09.560 align:start position:0% yeah recently I found that is the most 00:13:09.560 --> 00:13:13.189 align:start position:0% yeah recently I found that is the most exciting<00:13:10.120> idea<00:13:10.440> in<00:13:10.560> this<00:13:10.720> space<00:13:10.959> as<00:13:11.560> well<00:13:12.560> and 00:13:13.189 --> 00:13:13.199 align:start position:0% exciting idea in this space as well and 00:13:13.199 --> 00:13:16.269 align:start position:0% exciting idea in this space as well and yeah<00:13:13.399> base<00:13:13.720> Roll<00:13:14.000> Up<00:13:14.240> is<00:13:14.560> like<00:13:15.079> uh<00:13:15.800> yeah 00:13:16.269 --> 00:13:16.279 align:start position:0% yeah base Roll Up is like uh yeah 00:13:16.279 --> 00:13:19.990 align:start position:0% yeah base Roll Up is like uh yeah uniting<00:13:17.000> their<00:13:18.000> mechanism<00:13:19.000> uh<00:13:19.199> in<00:13:19.399> layer<00:13:19.760> to 00:13:19.990 --> 00:13:20.000 align:start position:0% uniting their mechanism uh in layer to 00:13:20.000 --> 00:13:22.949 align:start position:0% uniting their mechanism uh in layer to space<00:13:20.839> and<00:13:21.399> INX<00:13:21.959> is 00:13:22.949 --> 00:13:22.959 align:start position:0% space and INX is 00:13:22.959 --> 00:13:26.949 align:start position:0% space and INX is originally<00:13:23.959> uh<00:13:24.079> inmax<00:13:24.600> 2<00:13:24.880> is<00:13:25.360> originally<00:13:26.360> uh 00:13:26.949 --> 00:13:26.959 align:start position:0% originally uh inmax 2 is originally uh 00:13:26.959 --> 00:13:30.269 align:start position:0% originally uh inmax 2 is originally uh based<00:13:27.240> rollup<00:13:28.040> meaning<00:13:28.519> that<00:13:28.839> it's 00:13:30.269 --> 00:13:30.279 align:start position:0% based rollup meaning that it's 00:13:30.279 --> 00:13:32.829 align:start position:0% based rollup meaning that it's interoperable<00:13:31.120> with<00:13:31.600> the<00:13:31.720> other<00:13:31.959> chain<00:13:32.600> and 00:13:32.829 --> 00:13:32.839 align:start position:0% interoperable with the other chain and 00:13:32.839 --> 00:13:35.990 align:start position:0% interoperable with the other chain and the<00:13:33.040> once<00:13:33.279> you<00:13:33.760> verify<00:13:34.760> uh<00:13:34.880> or<00:13:35.199> send<00:13:35.560> their 00:13:35.990 --> 00:13:36.000 align:start position:0% the once you verify uh or send their 00:13:36.000 --> 00:13:41.189 align:start position:0% the once you verify uh or send their transaction<00:13:37.000> uh<00:13:37.279> in<00:13:38.120> this<00:13:38.839> INX<00:13:39.399> 2<00:13:40.040> rollup<00:13:41.040> you 00:13:41.189 --> 00:13:41.199 align:start position:0% transaction uh in this INX 2 rollup you 00:13:41.199 --> 00:13:43.110 align:start position:0% transaction uh in this INX 2 rollup you can<00:13:41.480> transact<00:13:42.040> with<00:13:42.279> the<00:13:42.399> other<00:13:42.680> smart 00:13:43.110 --> 00:13:43.120 align:start position:0% can transact with the other smart 00:13:43.120 --> 00:13:49.710 align:start position:0% can transact with the other smart contract<00:13:43.560> on<00:13:43.720> the<00:13:43.880> other<00:13:44.560> uh<00:13:44.720> base<00:13:44.959> roll 00:13:49.710 --> 00:13:49.720 align:start position:0% 00:13:49.720 --> 00:13:53.710 align:start position:0% up<00:13:50.720> and<00:13:51.519> yeah<00:13:51.639> it's<00:13:51.880> more<00:13:52.199> like<00:13:52.399> a<00:13:52.720> academic 00:13:53.710 --> 00:13:53.720 align:start position:0% up and yeah it's more like a academic 00:13:53.720 --> 00:13:56.910 align:start position:0% up and yeah it's more like a academic side<00:13:54.120> or<00:13:54.600> no<00:13:55.519> take<00:13:56.120> on<00:13:56.240> the 00:13:56.910 --> 00:13:56.920 align:start position:0% side or no take on the 00:13:56.920 --> 00:13:59.189 align:start position:0% side or no take on the statelessness<00:13:57.920> I<00:13:58.079> I<00:13:58.160> said<00:13:58.480> so<00:13:58.600> many<00:13:58.800> things 00:13:59.189 --> 00:13:59.199 align:start position:0% statelessness I I said so many things 00:13:59.199 --> 00:14:01.269 align:start position:0% statelessness I I said so many things about<00:13:59.360> the<00:13:59.480> statelessness<00:14:00.360> and<00:14:00.600> the<00:14:00.880> I<00:14:01.079> said 00:14:01.269 --> 00:14:01.279 align:start position:0% about the statelessness and the I said 00:14:01.279 --> 00:14:03.430 align:start position:0% about the statelessness and the I said it's<00:14:01.480> great<00:14:02.279> and<00:14:02.680> at<00:14:02.800> the<00:14:02.920> same<00:14:03.079> time<00:14:03.240> there's 00:14:03.430 --> 00:14:03.440 align:start position:0% it's great and at the same time there's 00:14:03.440 --> 00:14:07.069 align:start position:0% it's great and at the same time there's a<00:14:03.600> criticism<00:14:04.360> that<00:14:04.800> are<00:14:05.079> it's<00:14:05.800> impossible<00:14:06.800> and 00:14:07.069 --> 00:14:07.079 align:start position:0% a criticism that are it's impossible and 00:14:07.079 --> 00:14:09.230 align:start position:0% a criticism that are it's impossible and basically<00:14:07.639> they<00:14:08.120> what<00:14:08.279> they<00:14:08.399> are<00:14:08.519> saying<00:14:08.880> is 00:14:09.230 --> 00:14:09.240 align:start position:0% basically they what they are saying is 00:14:09.240 --> 00:14:12.550 align:start position:0% basically they what they are saying is totally<00:14:09.600> correct<00:14:10.519> and<00:14:11.360> they<00:14:11.519> are<00:14:11.680> saying<00:14:12.160> that 00:14:12.550 --> 00:14:12.560 align:start position:0% totally correct and they are saying that 00:14:12.560 --> 00:14:15.110 align:start position:0% totally correct and they are saying that uh<00:14:12.759> this<00:14:13.000> lead<00:14:13.399> lines<00:14:14.040> and<00:14:14.279> basically<00:14:14.800> it's 00:14:15.110 --> 00:14:15.120 align:start position:0% uh this lead lines and basically it's 00:14:15.120 --> 00:14:19.110 align:start position:0% uh this lead lines and basically it's meaning<00:14:16.079> that<00:14:17.079> let's 00:14:19.110 --> 00:14:19.120 align:start position:0% meaning that let's 00:14:19.120 --> 00:14:22.310 align:start position:0% meaning that let's say<00:14:20.120> stateless<00:14:20.839> system 00:14:22.310 --> 00:14:22.320 align:start position:0% say stateless system 00:14:22.320 --> 00:14:25.990 align:start position:0% say stateless system needs<00:14:23.320> frequent<00:14:23.880> local<00:14:24.480> proof<00:14:24.800> update<00:14:25.759> and 00:14:25.990 --> 00:14:26.000 align:start position:0% needs frequent local proof update and 00:14:26.000 --> 00:14:28.829 align:start position:0% needs frequent local proof update and the<00:14:26.440> local<00:14:26.920> proof<00:14:27.240> update<00:14:28.000> uh<00:14:28.160> is<00:14:28.639> some 00:14:28.829 --> 00:14:28.839 align:start position:0% the local proof update uh is some 00:14:28.839 --> 00:14:31.110 align:start position:0% the local proof update uh is some sometimes<00:14:29.320> it's<00:14:29.519> quite<00:14:29.800> annoying<00:14:30.680> and 00:14:31.110 --> 00:14:31.120 align:start position:0% sometimes it's quite annoying and 00:14:31.120 --> 00:14:33.629 align:start position:0% sometimes it's quite annoying and sometimes<00:14:31.519> it's<00:14:31.720> not<00:14:31.959> so<00:14:32.240> annoying<00:14:32.759> or<00:14:33.320> it's 00:14:33.629 --> 00:14:33.639 align:start position:0% sometimes it's not so annoying or it's 00:14:33.639 --> 00:14:36.749 align:start position:0% sometimes it's not so annoying or it's quite<00:14:34.120> harmless<00:14:35.120> and<00:14:35.320> in<00:14:35.519> our<00:14:35.839> architecture 00:14:36.749 --> 00:14:36.759 align:start position:0% quite harmless and in our architecture 00:14:36.759 --> 00:14:39.629 align:start position:0% quite harmless and in our architecture local<00:14:37.160> proof<00:14:37.440> update<00:14:37.759> is<00:14:38.160> quite<00:14:38.839> quite<00:14:39.480> uh 00:14:39.629 --> 00:14:39.639 align:start position:0% local proof update is quite quite uh 00:14:39.639 --> 00:14:43.230 align:start position:0% local proof update is quite quite uh harmless<00:14:40.279> so<00:14:40.880> yeah<00:14:41.040> basically<00:14:41.680> the<00:14:42.680> main 00:14:43.230 --> 00:14:43.240 align:start position:0% harmless so yeah basically the main 00:14:43.240 --> 00:14:46.670 align:start position:0% harmless so yeah basically the main direction<00:14:43.880> to<00:14:44.600> solve<00:14:45.000> this<00:14:45.279> problem<00:14:45.759> is<00:14:46.079> like 00:14:46.670 --> 00:14:46.680 align:start position:0% direction to solve this problem is like 00:14:46.680 --> 00:14:49.430 align:start position:0% direction to solve this problem is like making<00:14:47.040> local<00:14:47.480> Pro<00:14:47.800> updates<00:14:48.360> less<00:14:48.680> harmful<00:14:49.199> or 00:14:49.430 --> 00:14:49.440 align:start position:0% making local Pro updates less harmful or 00:14:49.440 --> 00:14:53.590 align:start position:0% making local Pro updates less harmful or CR<00:14:50.120> critical<00:14:51.079> or<00:14:51.600> totally<00:14:52.240> harmless<00:14:53.240> and<00:14:53.440> in 00:14:53.590 --> 00:14:53.600 align:start position:0% CR critical or totally harmless and in 00:14:53.600 --> 00:14:57.389 align:start position:0% CR critical or totally harmless and in our<00:14:53.920> system<00:14:54.320> it's<00:14:54.720> almost<00:14:55.320> uh<00:14:55.800> yeah<00:14:56.600> it's<00:14:56.920> just 00:14:57.389 --> 00:14:57.399 align:start position:0% our system it's almost uh yeah it's just 00:14:57.399 --> 00:15:00.910 align:start position:0% our system it's almost uh yeah it's just make<00:14:57.680> a<00:14:58.079> five<00:14:58.560> second<00:14:59.079> delay<00:15:00.040> uh<00:15:00.279> in<00:15:00.480> in<00:15:00.680> our 00:15:00.910 --> 00:15:00.920 align:start position:0% make a five second delay uh in in our 00:15:00.920 --> 00:15:03.670 align:start position:0% make a five second delay uh in in our communication<00:15:01.920> uh<00:15:02.079> between<00:15:02.519> block<00:15:02.839> producer 00:15:03.670 --> 00:15:03.680 align:start position:0% communication uh between block producer 00:15:03.680 --> 00:15:05.350 align:start position:0% communication uh between block producer and<00:15:03.920> the<00:15:04.120> transaction 00:15:05.350 --> 00:15:05.360 align:start position:0% and the transaction 00:15:05.360 --> 00:15:08.389 align:start position:0% and the transaction cender<00:15:06.360> so<00:15:07.079> basically<00:15:07.519> it's<00:15:07.639> are<00:15:08.079> quite 00:15:08.389 --> 00:15:08.399 align:start position:0% cender so basically it's are quite 00:15:08.399 --> 00:15:13.030 align:start position:0% cender so basically it's are quite solved<00:15:09.240> in<00:15:09.360> our<00:15:10.120> no<00:15:10.959> uh<00:15:11.160> development<00:15:12.079> but 00:15:13.030 --> 00:15:13.040 align:start position:0% solved in our no uh development but 00:15:13.040 --> 00:15:17.030 align:start position:0% solved in our no uh development but yeah<00:15:14.040> please<00:15:14.440> remember<00:15:15.079> that<00:15:15.839> uh<00:15:16.040> stateless 00:15:17.030 --> 00:15:17.040 align:start position:0% yeah please remember that uh stateless 00:15:17.040 --> 00:15:19.430 align:start position:0% yeah please remember that uh stateless is<00:15:17.480> kind<00:15:17.639> of<00:15:17.839> possible<00:15:18.639> uh<00:15:18.800> in<00:15:18.959> some 00:15:19.430 --> 00:15:19.440 align:start position:0% is kind of possible uh in some 00:15:19.440 --> 00:15:22.870 align:start position:0% is kind of possible uh in some conditions<00:15:20.320> and<00:15:20.800> it's<00:15:21.800> inmax<00:15:22.320> is<00:15:22.480> avoiding 00:15:22.870 --> 00:15:22.880 align:start position:0% conditions and it's inmax is avoiding 00:15:22.880 --> 00:15:24.550 align:start position:0% conditions and it's inmax is avoiding this 00:15:24.550 --> 00:15:24.560 align:start position:0% this 00:15:24.560 --> 00:15:27.949 align:start position:0% this program<00:15:25.560> okay<00:15:25.839> at<00:15:26.000> the<00:15:26.199> last<00:15:26.800> uh<00:15:27.120> we<00:15:27.240> are<00:15:27.639> doing 00:15:27.949 --> 00:15:27.959 align:start position:0% program okay at the last uh we are doing 00:15:27.959 --> 00:15:31.350 align:start position:0% program okay at the last uh we are doing the<00:15:28.279> Privacy<00:15:28.639> mining<00:15:29.160> right<00:15:29.319> now<00:15:29.839> so<00:15:30.199> in<00:15:31.199> I 00:15:31.350 --> 00:15:31.360 align:start position:0% the Privacy mining right now so in I 00:15:31.360 --> 00:15:34.749 align:start position:0% the Privacy mining right now so in I said<00:15:31.720> like<00:15:32.360> uh<00:15:32.680> stateless<00:15:33.600> architecture<00:15:34.600> have 00:15:34.749 --> 00:15:34.759 align:start position:0% said like uh stateless architecture have 00:15:34.759 --> 00:15:38.670 align:start position:0% said like uh stateless architecture have a<00:15:35.160> strong<00:15:35.440> feature<00:15:36.240> of<00:15:36.680> privacy<00:15:37.680> and<00:15:38.279> it 00:15:38.670 --> 00:15:38.680 align:start position:0% a strong feature of privacy and it 00:15:38.680 --> 00:15:41.829 align:start position:0% a strong feature of privacy and it brings<00:15:39.040> the<00:15:39.399> Privacy<00:15:40.079> to<00:15:40.319> layer<00:15:40.759> one<00:15:41.560> at<00:15:41.680> the 00:15:41.829 --> 00:15:41.839 align:start position:0% brings the Privacy to layer one at the 00:15:41.839 --> 00:15:44.990 align:start position:0% brings the Privacy to layer one at the same<00:15:42.079> time<00:15:42.360> right<00:15:42.519> now<00:15:43.160> so<00:15:43.880> once<00:15:44.079> you<00:15:44.279> bettery 00:15:44.990 --> 00:15:45.000 align:start position:0% same time right now so once you bettery 00:15:45.000 --> 00:15:48.030 align:start position:0% same time right now so once you bettery uh<00:15:45.199> once<00:15:45.399> you<00:15:45.639> deposit<00:15:46.279> money<00:15:46.720> to<00:15:47.680> our 00:15:48.030 --> 00:15:48.040 align:start position:0% uh once you deposit money to our 00:15:48.040 --> 00:15:50.509 align:start position:0% uh once you deposit money to our contract<00:15:48.519> and<00:15:48.720> withdraw<00:15:49.160> our<00:15:49.399> contract 00:15:50.509 --> 00:15:50.519 align:start position:0% contract and withdraw our contract 00:15:50.519 --> 00:15:53.550 align:start position:0% contract and withdraw our contract basically<00:15:51.519> we<00:15:52.120> we<00:15:52.279> don't<00:15:52.519> have<00:15:52.720> any<00:15:53.079> links 00:15:53.550 --> 00:15:53.560 align:start position:0% basically we we don't have any links 00:15:53.560 --> 00:15:56.389 align:start position:0% basically we we don't have any links between<00:15:53.920> them<00:15:54.639> nobody<00:15:55.079> can<00:15:55.399> see<00:15:55.680> the<00:15:56.000> links 00:15:56.389 --> 00:15:56.399 align:start position:0% between them nobody can see the links 00:15:56.399 --> 00:16:00.910 align:start position:0% between them nobody can see the links between<00:15:56.759> them<00:15:57.319> right<00:15:58.040> and<00:15:58.639> we 00:16:00.910 --> 00:16:00.920 align:start position:0% between them right and we 00:16:00.920 --> 00:16:04.710 align:start position:0% between them right and we l<00:16:01.360> in<00:16:01.680> that<00:16:02.120> are<00:16:02.519> no<00:16:02.959> mechanism<00:16:03.920> and<00:16:04.160> the<00:16:04.519> more 00:16:04.710 --> 00:16:04.720 align:start position:0% l in that are no mechanism and the more 00:16:04.720 --> 00:16:07.829 align:start position:0% l in that are no mechanism and the more and<00:16:05.000> more<00:16:05.920> people<00:16:06.240> come<00:16:06.519> into<00:16:07.000> this<00:16:07.480> privacy 00:16:07.829 --> 00:16:07.839 align:start position:0% and more people come into this privacy 00:16:07.839 --> 00:16:09.870 align:start position:0% and more people come into this privacy mining<00:16:08.759> uh<00:16:08.920> more<00:16:09.120> and 00:16:09.870 --> 00:16:09.880 align:start position:0% mining uh more and 00:16:09.880 --> 00:16:13.069 align:start position:0% mining uh more and more<00:16:10.880> anonymity<00:16:11.519> set<00:16:11.839> the<00:16:12.040> greater<00:16:12.519> anonymity 00:16:13.069 --> 00:16:13.079 align:start position:0% more anonymity set the greater anonymity 00:16:13.079 --> 00:16:15.910 align:start position:0% more anonymity set the greater anonymity that<00:16:13.279> we<00:16:13.399> can<00:16:13.720> have<00:16:14.199> are<00:16:14.560> know<00:16:15.120> together<00:16:15.519> right 00:16:15.910 --> 00:16:15.920 align:start position:0% that we can have are know together right 00:16:15.920 --> 00:16:20.150 align:start position:0% that we can have are know together right so<00:16:16.399> it's<00:16:16.560> a<00:16:17.160> very<00:16:17.519> big<00:16:18.519> uh<00:16:18.680> social<00:16:19.240> experimen 00:16:20.150 --> 00:16:20.160 align:start position:0% so it's a very big uh social experimen 00:16:20.160 --> 00:16:23.309 align:start position:0% so it's a very big uh social experimen for<00:16:20.319> me<00:16:20.880> to<00:16:21.079> do<00:16:21.959> uh<00:16:22.079> simply<00:16:22.480> because<00:16:22.800> it's 00:16:23.309 --> 00:16:23.319 align:start position:0% for me to do uh simply because it's 00:16:23.319 --> 00:16:26.910 align:start position:0% for me to do uh simply because it's something<00:16:24.040> new<00:16:24.560> to<00:16:25.519> kind 00:16:26.910 --> 00:16:26.920 align:start position:0% something new to kind 00:16:26.920 --> 00:16:30.509 align:start position:0% something new to kind of<00:16:27.920> ening<00:16:28.639> people<00:16:29.120> they're<00:16:29.800> know<00:16:30.040> making 00:16:30.509 --> 00:16:30.519 align:start position:0% of ening people they're know making 00:16:30.519 --> 00:16:34.670 align:start position:0% of ening people they're know making people<00:16:31.399> able<00:16:31.759> to<00:16:32.399> buy<00:16:32.839> anonymity<00:16:33.519> set<00:16:33.920> right 00:16:34.670 --> 00:16:34.680 align:start position:0% people able to buy anonymity set right 00:16:34.680 --> 00:16:37.590 align:start position:0% people able to buy anonymity set right and<00:16:35.160> it's<00:16:35.319> a<00:16:35.680> chance<00:16:36.040> to<00:16:36.480> for<00:16:36.800> the<00:16:37.000> market<00:16:37.319> to 00:16:37.590 --> 00:16:37.600 align:start position:0% and it's a chance to for the market to 00:16:37.600 --> 00:16:42.430 align:start position:0% and it's a chance to for the market to buy<00:16:37.920> anonymity<00:16:38.560> set<00:16:39.839> or<00:16:40.839> instead<00:16:41.360> of<00:16:41.800> or<00:16:42.160> no 00:16:42.430 --> 00:16:42.440 align:start position:0% buy anonymity set or instead of or no 00:16:42.440 --> 00:16:44.629 align:start position:0% buy anonymity set or instead of or no paying<00:16:42.759> their<00:16:43.160> no<00:16:43.440> transaction<00:16:43.959> fee<00:16:44.279> or<00:16:44.480> in 00:16:44.629 --> 00:16:44.639 align:start position:0% paying their no transaction fee or in 00:16:44.639 --> 00:16:49.030 align:start position:0% paying their no transaction fee or in their<00:16:45.079> no<00:16:45.360> privacy<00:16:46.360> uh<00:16:47.160> protocols<00:16:48.160> and<00:16:48.480> it's<00:16:48.639> a 00:16:49.030 --> 00:16:49.040 align:start position:0% their no privacy uh protocols and it's a 00:16:49.040 --> 00:16:52.550 align:start position:0% their no privacy uh protocols and it's a new<00:16:49.440> kind<00:16:49.680> of<00:16:50.040> way<00:16:50.279> to<00:16:50.959> uh<00:16:51.120> find<00:16:51.440> the<00:16:51.839> P<00:16:52.279> find 00:16:52.550 --> 00:16:52.560 align:start position:0% new kind of way to uh find the P find 00:16:52.560 --> 00:16:55.870 align:start position:0% new kind of way to uh find the P find the<00:16:53.040> find<00:16:53.319> the<00:16:53.560> price<00:16:53.839> of<00:16:54.319> privacy<00:16:55.319> and<00:16:55.720> we 00:16:55.870 --> 00:16:55.880 align:start position:0% the find the price of privacy and we 00:16:55.880 --> 00:16:58.910 align:start position:0% the find the price of privacy and we cannot<00:16:56.360> Define<00:16:56.720> their<00:16:57.240> f<00:16:58.000> price<00:16:58.240> of<00:16:58.399> privacy 00:16:58.910 --> 00:16:58.920 align:start position:0% cannot Define their f price of privacy 00:16:58.920 --> 00:17:02.590 align:start position:0% cannot Define their f price of privacy today<00:16:59.680> but<00:16:59.880> it's<00:17:00.040> a<00:17:00.360> experiment<00:17:01.000> to<00:17:01.560> make<00:17:01.880> a 00:17:02.590 --> 00:17:02.600 align:start position:0% today but it's a experiment to make a 00:17:02.600 --> 00:17:05.949 align:start position:0% today but it's a experiment to make a equilibrium<00:17:03.600> in<00:17:03.720> their<00:17:03.959> Market<00:17:04.720> to<00:17:05.319> to<00:17:05.640> find 00:17:05.949 --> 00:17:05.959 align:start position:0% equilibrium in their Market to to find 00:17:05.959 --> 00:17:09.590 align:start position:0% equilibrium in their Market to to find out<00:17:06.959> how<00:17:07.240> much<00:17:07.679> do<00:17:08.039> we<00:17:08.240> need<00:17:08.520> to<00:17:08.760> pay<00:17:09.079> for<00:17:09.319> their 00:17:09.590 --> 00:17:09.600 align:start position:0% out how much do we need to pay for their 00:17:09.600 --> 00:17:12.429 align:start position:0% out how much do we need to pay for their anonymity<00:17:10.199> set<00:17:10.520> so<00:17:10.760> please<00:17:11.079> join<00:17:11.439> this<00:17:12.000> social 00:17:12.429 --> 00:17:12.439 align:start position:0% anonymity set so please join this social 00:17:12.439 --> 00:17:15.110 align:start position:0% anonymity set so please join this social experiment<00:17:13.280> on<00:17:13.520> the<00:17:14.039> of<00:17:14.199> course<00:17:14.400> get<00:17:14.679> Li<00:17:14.919> world 00:17:15.110 --> 00:17:15.120 align:start position:0% experiment on the of course get Li world 00:17:15.120 --> 00:17:18.189 align:start position:0% experiment on the of course get Li world that<00:17:15.319> and<00:17:15.559> the<00:17:16.039> yeah<00:17:16.319> some<00:17:17.039> please<00:17:17.679> make<00:17:17.959> your 00:17:18.189 --> 00:17:18.199 align:start position:0% that and the yeah some please make your 00:17:18.199 --> 00:17:21.069 align:start position:0% that and the yeah some please make your asset<00:17:18.600> private<00:17:19.319> in<00:17:19.480> this<00:17:19.679> program<00:17:20.480> so<00:17:20.799> this<00:17:20.919> is 00:17:21.069 --> 00:17:21.079 align:start position:0% asset private in this program so this is 00:17:21.079 --> 00:17:23.750 align:start position:0% asset private in this program so this is a<00:17:21.319> just<00:17:21.520> a<00:17:21.959> invitation<00:17:22.559> on<00:17:22.799> this<00:17:23.360> a<00:17:23.480> bit 00:17:23.750 --> 00:17:23.760 align:start position:0% a just a invitation on this a bit 00:17:23.760 --> 00:17:26.270 align:start position:0% a just a invitation on this a bit independent<00:17:24.360> from<00:17:24.600> their<00:17:25.079> no<00:17:25.280> stateless<00:17:25.919> or 00:17:26.270 --> 00:17:26.280 align:start position:0% independent from their no stateless or 00:17:26.280 --> 00:17:29.190 align:start position:0% independent from their no stateless or stuff<00:17:26.679> but<00:17:26.919> yeah<00:17:27.120> I'm<00:17:27.319> doing<00:17:27.679> this<00:17:27.919> or 00:17:29.190 --> 00:17:29.200 align:start position:0% stuff but yeah I'm doing this or 00:17:29.200 --> 00:17:32.230 align:start position:0% stuff but yeah I'm doing this or passionately<00:17:29.880> so<00:17:30.160> please<00:17:30.640> join<00:17:31.000> this<00:17:31.880> and 00:17:32.230 --> 00:17:32.240 align:start position:0% passionately so please join this and 00:17:32.240 --> 00:17:36.110 align:start position:0% passionately so please join this and thanks<00:17:33.160> for<00:17:33.400> listening<00:17:33.960> to<00:17:34.160> me<00:17:34.640> today<00:17:35.520> and 00:17:36.110 --> 00:17:36.120 align:start position:0% thanks for listening to me today and 00:17:36.120 --> 00:17:38.270 align:start position:0% thanks for listening to me today and yeah 00:17:38.270 --> 00:17:38.280 align:start position:0% yeah 00:17:38.280 --> 00:17:39.460 align:start position:0% yeah sir 00:17:39.460 --> 00:17:39.470 align:start position:0% sir 00:17:39.470 --> 00:17:43.470 align:start position:0% sir [Applause] 00:17:43.470 --> 00:17:43.480 align:start position:0% [Applause] 00:17:43.480 --> 00:17:46.950 align:start position:0% [Applause] down<00:17:44.480> all<00:17:44.640> right<00:17:44.960> thank<00:17:45.080> you<00:17:45.200> so<00:17:45.360> much<00:17:45.960> Leona 00:17:46.950 --> 00:17:46.960 align:start position:0% down all right thank you so much Leona 00:17:46.960 --> 00:17:49.990 align:start position:0% down all right thank you so much Leona uh<00:17:47.080> we<00:17:47.240> have<00:17:47.480> one<00:17:47.919> question<00:17:48.520> so<00:17:48.840> far<00:17:49.559> so<00:17:49.799> please 00:17:49.990 --> 00:17:50.000 align:start position:0% uh we have one question so far so please 00:17:50.000 --> 00:17:51.470 align:start position:0% uh we have one question so far so please don't<00:17:50.200> forget<00:17:50.559> if<00:17:50.640> you<00:17:50.760> have<00:17:50.919> any<00:17:51.160> questions 00:17:51.470 --> 00:17:51.480 align:start position:0% don't forget if you have any questions 00:17:51.480 --> 00:17:54.190 align:start position:0% don't forget if you have any questions for<00:17:51.720> Leona<00:17:52.440> please<00:17:53.000> uh<00:17:53.120> scan<00:17:53.360> the<00:17:53.520> QR<00:17:53.840> code<00:17:54.039> and 00:17:54.190 --> 00:17:54.200 align:start position:0% for Leona please uh scan the QR code and 00:17:54.200 --> 00:17:55.990 align:start position:0% for Leona please uh scan the QR code and answer<00:17:54.520> the<00:17:54.720> question<00:17:55.080> but<00:17:55.280> let's<00:17:55.480> start<00:17:55.760> with 00:17:55.990 --> 00:17:56.000 align:start position:0% answer the question but let's start with 00:17:56.000 --> 00:17:58.510 align:start position:0% answer the question but let's start with this<00:17:56.159> one<00:17:57.080> so<00:17:57.280> given<00:17:57.520> the<00:17:57.720> huge<00:17:58.080> difference 00:17:58.510 --> 00:17:58.520 align:start position:0% this one so given the huge difference 00:17:58.520 --> 00:18:01.350 align:start position:0% this one so given the huge difference with<00:17:58.840> General<00:17:59.120> l2s<00:18:00.039> is<00:18:00.200> the<00:18:00.400> expectation<00:18:01.039> like 00:18:01.350 --> 00:18:01.360 align:start position:0% with General l2s is the expectation like 00:18:01.360 --> 00:18:03.630 align:start position:0% with General l2s is the expectation like users<00:18:01.840> to<00:18:02.000> use<00:18:02.280> others<00:18:02.880> usually<00:18:03.320> for 00:18:03.630 --> 00:18:03.640 align:start position:0% users to use others usually for 00:18:03.640 --> 00:18:07.029 align:start position:0% users to use others usually for executing<00:18:04.400> contracts<00:18:05.360> and<00:18:05.559> spending<00:18:06.120> inmax 00:18:07.029 --> 00:18:07.039 align:start position:0% executing contracts and spending inmax 00:18:07.039 --> 00:18:09.909 align:start position:0% executing contracts and spending inmax when<00:18:07.240> they<00:18:07.400> want<00:18:07.640> to<00:18:07.880> Simply<00:18:08.280> transfer<00:18:08.880> a<00:18:09.200> lot 00:18:09.909 --> 00:18:09.919 align:start position:0% when they want to Simply transfer a lot 00:18:09.919 --> 00:18:33.669 align:start position:0% when they want to Simply transfer a lot and<00:18:10.159> or<00:18:10.520> with<00:18:10.840> privacy 00:18:33.669 --> 00:18:33.679 align:start position:0% 00:18:33.679 --> 00:18:38.029 align:start position:0% so<00:18:34.280> yeah<00:18:35.159> I<00:18:35.400> a<00:18:35.679> bit<00:18:36.039> are<00:18:36.520> know<00:18:37.240> are<00:18:37.520> taking<00:18:37.840> time 00:18:38.029 --> 00:18:38.039 align:start position:0% so yeah I a bit are know are taking time 00:18:38.039 --> 00:18:39.510 align:start position:0% so yeah I a bit are know are taking time to<00:18:38.440> understand<00:18:38.679> this<00:18:38.919> question<00:18:39.200> but 00:18:39.510 --> 00:18:39.520 align:start position:0% to understand this question but 00:18:39.520 --> 00:18:42.430 align:start position:0% to understand this question but basically<00:18:40.240> uh<00:18:40.880> yeah<00:18:41.080> of<00:18:41.240> course<00:18:41.440> it's<00:18:41.600> a<00:18:42.120> huge 00:18:42.430 --> 00:18:42.440 align:start position:0% basically uh yeah of course it's a huge 00:18:42.440 --> 00:18:45.029 align:start position:0% basically uh yeah of course it's a huge difference<00:18:42.919> between<00:18:43.240> the<00:18:43.480> general<00:18:44.200> or<00:18:44.600> no 00:18:45.029 --> 00:18:45.039 align:start position:0% difference between the general or no 00:18:45.039 --> 00:18:48.070 align:start position:0% difference between the general or no contract<00:18:45.559> execution<00:18:46.559> in<00:18:46.840> other<00:18:47.120> layer<00:18:47.440> tools 00:18:48.070 --> 00:18:48.080 align:start position:0% contract execution in other layer tools 00:18:48.080 --> 00:18:50.149 align:start position:0% contract execution in other layer tools and<00:18:48.320> the<00:18:48.640> know<00:18:48.840> basically<00:18:49.240> sending<00:18:49.559> the<00:18:49.720> token 00:18:50.149 --> 00:18:50.159 align:start position:0% and the know basically sending the token 00:18:50.159 --> 00:18:53.789 align:start position:0% and the know basically sending the token inmax<00:18:51.120> and<00:18:51.280> the<00:18:51.480> inmax<00:18:52.480> are<00:18:52.919> provider 00:18:53.789 --> 00:18:53.799 align:start position:0% inmax and the inmax are provider 00:18:53.799 --> 00:18:55.590 align:start position:0% inmax and the inmax are provider conditional<00:18:54.200> payment<00:18:54.600> so<00:18:55.080> sometimes<00:18:55.360> it's 00:18:55.590 --> 00:18:55.600 align:start position:0% conditional payment so sometimes it's 00:18:55.600 --> 00:18:59.190 align:start position:0% conditional payment so sometimes it's make<00:18:55.880> our<00:18:56.640> our<00:18:57.559> no<00:18:57.960> execution<00:18:58.520> of<00:18:58.840> smart 00:18:59.190 --> 00:18:59.200 align:start position:0% make our our no execution of smart 00:18:59.200 --> 00:19:01.870 align:start position:0% make our our no execution of smart contract<00:18:59.640> but<00:18:59.840> it's<00:19:00.080> depend<00:19:00.600> kind<00:19:00.799> of<00:19:01.280> no<00:19:01.600> it's 00:19:01.870 --> 00:19:01.880 align:start position:0% contract but it's depend kind of no it's 00:19:01.880 --> 00:19:05.390 align:start position:0% contract but it's depend kind of no it's restricted<00:19:02.600> to<00:19:03.520> uh<00:19:04.120> conditional<00:19:04.559> payments 00:19:05.390 --> 00:19:05.400 align:start position:0% restricted to uh conditional payments 00:19:05.400 --> 00:19:08.110 align:start position:0% restricted to uh conditional payments which<00:19:05.559> means<00:19:05.880> that<00:19:06.159> you<00:19:06.480> cannot<00:19:07.480> lock<00:19:07.880> the 00:19:08.110 --> 00:19:08.120 align:start position:0% which means that you cannot lock the 00:19:08.120 --> 00:19:11.390 align:start position:0% which means that you cannot lock the token<00:19:09.120> uh<00:19:09.240> on<00:19:09.480> Smart<00:19:09.880> contract<00:19:10.400> like<00:19:10.600> AVI<00:19:11.080> or 00:19:11.390 --> 00:19:11.400 align:start position:0% token uh on Smart contract like AVI or 00:19:11.400 --> 00:19:14.390 align:start position:0% token uh on Smart contract like AVI or no<00:19:11.640> Unis<00:19:11.919> swap<00:19:12.200> on<00:19:12.400> these<00:19:12.559> kind<00:19:12.679> of<00:19:12.840> stuff<00:19:13.799> and 00:19:14.390 --> 00:19:14.400 align:start position:0% no Unis swap on these kind of stuff and 00:19:14.400 --> 00:19:16.830 align:start position:0% no Unis swap on these kind of stuff and it's<00:19:14.559> more<00:19:15.240> of<00:19:15.400> course<00:19:15.600> it's 00:19:16.830 --> 00:19:16.840 align:start position:0% it's more of course it's 00:19:16.840 --> 00:19:24.590 align:start position:0% it's more of course it's private<00:19:17.840> and 00:19:24.590 --> 00:19:24.600 align:start position:0% 00:19:24.600 --> 00:19:27.470 align:start position:0% so 00:19:27.470 --> 00:19:27.480 align:start position:0% so 00:19:27.480 --> 00:19:29.630 align:start position:0% so expectation<00:19:28.480> so<00:19:28.720> so<00:19:28.880> basically<00:19:29.280> we<00:19:29.400> are 00:19:29.630 --> 00:19:29.640 align:start position:0% expectation so so basically we are 00:19:29.640 --> 00:19:33.230 align:start position:0% expectation so so basically we are expecting<00:19:30.200> that<00:19:30.559> uh<00:19:30.919> no<00:19:31.159> people<00:19:31.880> use<00:19:32.320> this<00:19:32.880> for 00:19:33.230 --> 00:19:33.240 align:start position:0% expecting that uh no people use this for 00:19:33.240 --> 00:19:36.789 align:start position:0% expecting that uh no people use this for extremely<00:19:34.240> uh<00:19:34.400> cheap<00:19:35.039> payments<00:19:35.760> with<00:19:36.440> uh 00:19:36.789 --> 00:19:36.799 align:start position:0% extremely uh cheap payments with uh 00:19:36.799 --> 00:19:39.750 align:start position:0% extremely uh cheap payments with uh smart<00:19:37.200> contract<00:19:37.760> condition<00:19:38.760> and<00:19:39.240> yeah<00:19:39.480> that's 00:19:39.750 --> 00:19:39.760 align:start position:0% smart contract condition and yeah that's 00:19:39.760 --> 00:19:42.510 align:start position:0% smart contract condition and yeah that's their<00:19:40.240> expectation<00:19:40.880> so<00:19:41.400> yeah<00:19:41.720> I<00:19:41.840> think<00:19:42.120> it's 00:19:42.510 --> 00:19:42.520 align:start position:0% their expectation so yeah I think it's 00:19:42.520 --> 00:19:45.470 align:start position:0% their expectation so yeah I think it's quite<00:19:42.960> our<00:19:43.520> correct<00:19:44.039> our 00:19:45.470 --> 00:19:45.480 align:start position:0% quite our correct our 00:19:45.480 --> 00:19:48.029 align:start position:0% quite our correct our understanding<00:19:46.480> okay<00:19:46.679> thank<00:19:46.880> you<00:19:47.400> and<00:19:47.760> the 00:19:48.029 --> 00:19:48.039 align:start position:0% understanding okay thank you and the 00:19:48.039 --> 00:19:50.590 align:start position:0% understanding okay thank you and the second<00:19:48.480> question<00:19:48.880> would<00:19:49.159> be<00:19:49.919> how<00:19:50.080> to<00:19:50.240> manage 00:19:50.590 --> 00:19:50.600 align:start position:0% second question would be how to manage 00:19:50.600 --> 00:19:52.590 align:start position:0% second question would be how to manage higher<00:19:50.880> computation<00:19:51.480> requirements<00:19:52.120> and 00:19:52.590 --> 00:19:52.600 align:start position:0% higher computation requirements and 00:19:52.600 --> 00:19:55.830 align:start position:0% higher computation requirements and potential<00:19:53.600> latency<00:19:54.159> in 00:19:55.830 --> 00:19:55.840 align:start position:0% potential latency in 00:19:55.840 --> 00:19:58.870 align:start position:0% potential latency in transactions<00:19:56.840> so 00:19:58.870 --> 00:19:58.880 align:start position:0% transactions so 00:19:58.880 --> 00:20:02.669 align:start position:0% transactions so higher<00:19:59.440> computation<00:20:00.039> requirements<00:20:00.960> and<00:20:01.679> yeah 00:20:02.669 --> 00:20:02.679 align:start position:0% higher computation requirements and yeah 00:20:02.679 --> 00:20:04.830 align:start position:0% higher computation requirements and yeah this<00:20:02.880> is<00:20:03.240> quite<00:20:03.440> a<00:20:03.559> good<00:20:03.799> question<00:20:04.480> and<00:20:04.679> the 00:20:04.830 --> 00:20:04.840 align:start position:0% this is quite a good question and the 00:20:04.840 --> 00:20:09.190 align:start position:0% this is quite a good question and the actually<00:20:05.280> is<00:20:05.559> quite<00:20:06.320> limited<00:20:07.320> um<00:20:08.159> so<00:20:08.799> as<00:20:08.960> I 00:20:09.190 --> 00:20:09.200 align:start position:0% actually is quite limited um so as I 00:20:09.200 --> 00:20:12.549 align:start position:0% actually is quite limited um so as I said<00:20:10.080> as<00:20:10.240> I<00:20:10.600> described<00:20:11.240> on<00:20:11.440> the<00:20:11.880> chain<00:20:12.240> of<00:20:12.440> the 00:20:12.549 --> 00:20:12.559 align:start position:0% said as I described on the chain of the 00:20:12.559 --> 00:20:15.190 align:start position:0% said as I described on the chain of the zp<00:20:13.440> or<00:20:13.880> no 00:20:15.190 --> 00:20:15.200 align:start position:0% zp or no 00:20:15.200 --> 00:20:18.909 align:start position:0% zp or no picture<00:20:16.200> basically<00:20:16.880> each<00:20:17.159> zkp<00:20:18.120> is<00:20:18.760> are 00:20:18.909 --> 00:20:18.919 align:start position:0% picture basically each zkp is are 00:20:18.919 --> 00:20:20.950 align:start position:0% picture basically each zkp is are proving<00:20:19.320> the<00:20:19.559> entire<00:20:20.039> history<00:20:20.440> and<00:20:20.679> it's 00:20:20.950 --> 00:20:20.960 align:start position:0% proving the entire history and it's 00:20:20.960 --> 00:20:24.190 align:start position:0% proving the entire history and it's constant<00:20:21.480> cost<00:20:22.000> and<00:20:22.200> it<00:20:22.360> takes<00:20:22.760> are<00:20:23.360> 2<00:20:23.720> seconds 00:20:24.190 --> 00:20:24.200 align:start position:0% constant cost and it takes are 2 seconds 00:20:24.200 --> 00:20:27.830 align:start position:0% constant cost and it takes are 2 seconds in<00:20:24.600> Mark<00:20:24.960> M2<00:20:25.919> and<00:20:26.159> the<00:20:26.640> 5<00:20:27.000> seconds<00:20:27.440> are<00:20:27.640> in 00:20:27.830 --> 00:20:27.840 align:start position:0% in Mark M2 and the 5 seconds are in 00:20:27.840 --> 00:20:30.909 align:start position:0% in Mark M2 and the 5 seconds are in older<00:20:28.320> version<00:20:28.760> I<00:20:28.960> guess<00:20:29.760> um<00:20:30.000> it's<00:20:30.200> quite 00:20:30.909 --> 00:20:30.919 align:start position:0% older version I guess um it's quite 00:20:30.919 --> 00:20:34.669 align:start position:0% older version I guess um it's quite limited<00:20:32.400> so<00:20:33.400> yeah<00:20:33.600> higher<00:20:34.000> computation 00:20:34.669 --> 00:20:34.679 align:start position:0% limited so yeah higher computation 00:20:34.679 --> 00:20:37.510 align:start position:0% limited so yeah higher computation requirements<00:20:35.520> are<00:20:35.799> it's<00:20:36.240> it 00:20:37.510 --> 00:20:37.520 align:start position:0% requirements are it's it 00:20:37.520 --> 00:20:41.310 align:start position:0% requirements are it's it does<00:20:38.520> it's<00:20:38.840> not<00:20:39.120> true<00:20:39.559> actually<00:20:40.559> and<00:20:41.000> yeah 00:20:41.310 --> 00:20:41.320 align:start position:0% does it's not true actually and yeah 00:20:41.320 --> 00:20:44.430 align:start position:0% does it's not true actually and yeah basically<00:20:42.000> we<00:20:42.240> can<00:20:42.400> send<00:20:42.720> that<00:20:43.480> or<00:20:43.720> two<00:20:44.159> or 00:20:44.430 --> 00:20:44.440 align:start position:0% basically we can send that or two or 00:20:44.440 --> 00:20:48.070 align:start position:0% basically we can send that or two or five<00:20:44.840> seconds<00:20:45.400> or<00:20:46.080> delay<00:20:46.600> or<00:20:46.840> latency<00:20:47.840> is 00:20:48.070 --> 00:20:48.080 align:start position:0% five seconds or delay or latency is 00:20:48.080 --> 00:20:50.470 align:start position:0% five seconds or delay or latency is there<00:20:48.960> everything 00:20:50.470 --> 00:20:50.480 align:start position:0% there everything 00:20:50.480 --> 00:20:53.830 align:start position:0% there everything or<00:20:51.480> we<00:20:51.679> can<00:20:51.840> have<00:20:52.120> other<00:20:52.799> no<00:20:53.159> we<00:20:53.320> we<00:20:53.440> need<00:20:53.640> to 00:20:53.830 --> 00:20:53.840 align:start position:0% or we can have other no we we need to 00:20:53.840 --> 00:20:56.070 align:start position:0% or we can have other no we we need to have<00:20:54.080> other 00:20:56.070 --> 00:20:56.080 align:start position:0% have other 00:20:56.080 --> 00:21:00.390 align:start position:0% have other downside<00:20:57.320> and<00:20:58.320> yeah<00:20:58.679> it's<00:20:58.880> quite<00:20:59.120> limited<00:21:00.080> and 00:21:00.390 --> 00:21:00.400 align:start position:0% downside and yeah it's quite limited and 00:21:00.400 --> 00:21:02.029 align:start position:0% downside and yeah it's quite limited and the<00:21:00.760> at<00:21:00.919> the<00:21:01.080> same<00:21:01.280> time<00:21:01.480> it's<00:21:01.760> getting 00:21:02.029 --> 00:21:02.039 align:start position:0% the at the same time it's getting 00:21:02.039 --> 00:21:05.190 align:start position:0% the at the same time it's getting shorter<00:21:02.360> and<00:21:02.720> shorter<00:21:03.720> because<00:21:04.000> of<00:21:04.159> the<00:21:04.720> no 00:21:05.190 --> 00:21:05.200 align:start position:0% shorter and shorter because of the no 00:21:05.200 --> 00:21:08.470 align:start position:0% shorter and shorter because of the no evolution<00:21:05.880> of<00:21:06.200> machine<00:21:06.720> on<00:21:06.960> the<00:21:07.159> zkp 00:21:08.470 --> 00:21:08.480 align:start position:0% evolution of machine on the zkp 00:21:08.480 --> 00:21:13.190 align:start position:0% evolution of machine on the zkp itself<00:21:09.919> so<00:21:10.919> yeah<00:21:11.559> the 00:21:13.190 --> 00:21:13.200 align:start position:0% itself so yeah the 00:21:13.200 --> 00:21:16.310 align:start position:0% itself so yeah the latency<00:21:14.200> five<00:21:14.679> second<00:21:15.080> latency<00:21:15.840> makes 00:21:16.310 --> 00:21:16.320 align:start position:0% latency five second latency makes 00:21:16.320 --> 00:21:19.669 align:start position:0% latency five second latency makes everything<00:21:16.760> scity<00:21:17.600> inity<00:21:18.600> privacy<00:21:19.279> and<00:21:19.520> this 00:21:19.669 --> 00:21:19.679 align:start position:0% everything scity inity privacy and this 00:21:19.679 --> 00:21:21.510 align:start position:0% everything scity inity privacy and this kind<00:21:19.799> of 00:21:21.510 --> 00:21:21.520 align:start position:0% kind of 00:21:21.520 --> 00:21:25.510 align:start position:0% kind of stuff<00:21:22.840> okay<00:21:23.840> someone<00:21:24.200> was<00:21:24.400> able<00:21:24.640> to<00:21:24.880> sneak<00:21:25.240> in 00:21:25.510 --> 00:21:25.520 align:start position:0% stuff okay someone was able to sneak in 00:21:25.520 --> 00:21:28.750 align:start position:0% stuff okay someone was able to sneak in another<00:21:25.880> question<00:21:26.279> so<00:21:26.480> we<00:21:26.760> have<00:21:27.760> how<00:21:28.080> privacy 00:21:28.750 --> 00:21:28.760 align:start position:0% another question so we have how privacy 00:21:28.760 --> 00:21:30.830 align:start position:0% another question so we have how privacy mining<00:21:29.240> connected<00:21:29.640> to<00:21:29.799> the 00:21:30.830 --> 00:21:30.840 align:start position:0% mining connected to the 00:21:30.840 --> 00:21:33.390 align:start position:0% mining connected to the statelessness<00:21:31.840> and<00:21:32.279> inmex<00:21:32.919> I<00:21:33.000> would<00:21:33.159> probably 00:21:33.390 --> 00:21:33.400 align:start position:0% statelessness and inmex I would probably 00:21:33.400 --> 00:21:35.630 align:start position:0% statelessness and inmex I would probably say<00:21:33.760> how<00:21:34.159> is<00:21:34.480> privacy<00:21:34.840> mining<00:21:35.159> connected<00:21:35.520> to 00:21:35.630 --> 00:21:35.640 align:start position:0% say how is privacy mining connected to 00:21:35.640 --> 00:21:37.390 align:start position:0% say how is privacy mining connected to the<00:21:35.760> statelessness<00:21:36.360> and 00:21:37.390 --> 00:21:37.400 align:start position:0% the statelessness and 00:21:37.400 --> 00:21:40.750 align:start position:0% the statelessness and inmax<00:21:38.400> so<00:21:38.840> it's<00:21:39.120> all<00:21:39.440> about<00:21:39.720> are<00:21:40.120> making<00:21:40.480> great 00:21:40.750 --> 00:21:40.760 align:start position:0% inmax so it's all about are making great 00:21:40.760 --> 00:21:43.750 align:start position:0% inmax so it's all about are making great anonymity<00:21:41.400> set<00:21:42.279> and<00:21:42.640> so 00:21:43.750 --> 00:21:43.760 align:start position:0% anonymity set and so 00:21:43.760 --> 00:21:46.310 align:start position:0% anonymity set and so statelessness<00:21:44.760> are<00:21:45.360> actually<00:21:45.640> it's<00:21:45.840> not<00:21:46.039> so 00:21:46.310 --> 00:21:46.320 align:start position:0% statelessness are actually it's not so 00:21:46.320 --> 00:21:48.070 align:start position:0% statelessness are actually it's not so connected<00:21:47.000> with<00:21:47.320> statelessness 00:21:48.070 --> 00:21:48.080 align:start position:0% connected with statelessness 00:21:48.080 --> 00:21:51.950 align:start position:0% connected with statelessness statelessness<00:21:49.080> makes<00:21:49.679> privacy<00:21:50.679> and<00:21:51.200> make 00:21:51.950 --> 00:21:51.960 align:start position:0% statelessness makes privacy and make 00:21:51.960 --> 00:21:55.590 align:start position:0% statelessness makes privacy and make their<00:21:52.360> breach 00:21:55.590 --> 00:21:55.600 align:start position:0% 00:21:55.600 --> 00:21:59.310 align:start position:0% other<00:21:56.600> privacy<00:21:57.440> application<00:21:58.200> right<00:21:58.640> so<00:21:59.000> for 00:21:59.310 --> 00:21:59.320 align:start position:0% other privacy application right so for 00:21:59.320 --> 00:22:03.269 align:start position:0% other privacy application right so for L1<00:21:59.840> users<00:22:00.760> no<00:22:01.279> inmax<00:22:02.039> works<00:22:02.440> like<00:22:02.679> a<00:22:03.000> no 00:22:03.269 --> 00:22:03.279 align:start position:0% L1 users no inmax works like a no 00:22:03.279 --> 00:22:05.909 align:start position:0% L1 users no inmax works like a no privacy<00:22:03.720> application<00:22:04.679> and<00:22:04.960> the<00:22:05.520> for<00:22:05.720> the 00:22:05.909 --> 00:22:05.919 align:start position:0% privacy application and the for the 00:22:05.919 --> 00:22:09.149 align:start position:0% privacy application and the for the payment<00:22:06.320> user<00:22:06.720> or<00:22:07.200> L<00:22:07.520> do<00:22:07.679> users<00:22:08.200> it's<00:22:08.559> uh<00:22:08.960> it's 00:22:09.149 --> 00:22:09.159 align:start position:0% payment user or L do users it's uh it's 00:22:09.159 --> 00:22:13.990 align:start position:0% payment user or L do users it's uh it's like<00:22:09.600> a<00:22:10.600> no<00:22:10.880> payment<00:22:11.240> Focus<00:22:12.240> up<00:22:12.600> specific<00:22:13.320> L<00:22:13.679> do 00:22:13.990 --> 00:22:14.000 align:start position:0% like a no payment Focus up specific L do 00:22:14.000 --> 00:22:17.909 align:start position:0% like a no payment Focus up specific L do right<00:22:14.679> so<00:22:15.400> I<00:22:15.480> think<00:22:15.799> that<00:22:16.240> uh<00:22:17.039> yeah<00:22:17.520> the<00:22:17.679> only 00:22:17.909 --> 00:22:17.919 align:start position:0% right so I think that uh yeah the only 00:22:17.919 --> 00:22:22.470 align:start position:0% right so I think that uh yeah the only the<00:22:18.080> connection<00:22:18.960> is<00:22:19.240> there<00:22:20.279> no<00:22:21.279> privacy<00:22:22.120> and 00:22:22.470 --> 00:22:22.480 align:start position:0% the connection is there no privacy and 00:22:22.480 --> 00:22:25.310 align:start position:0% the connection is there no privacy and we<00:22:22.640> need<00:22:22.840> a<00:22:23.039> more<00:22:23.320> greater<00:22:23.760> set<00:22:24.039> of<00:22:24.320> anonymity 00:22:25.310 --> 00:22:25.320 align:start position:0% we need a more greater set of anonymity 00:22:25.320 --> 00:22:27.310 align:start position:0% we need a more greater set of anonymity in<00:22:25.480> terms<00:22:25.720> of<00:22:25.919> privacy<00:22:26.400> so<00:22:26.640> that's<00:22:26.799> a<00:22:26.960> reason 00:22:27.310 --> 00:22:27.320 align:start position:0% in terms of privacy so that's a reason 00:22:27.320 --> 00:22:29.789 align:start position:0% in terms of privacy so that's a reason why<00:22:27.640> it's<00:22:28.000> somehow<00:22:28.320> going<00:22:28.520> connected<00:22:29.320> and<00:22:29.679> we 00:22:29.789 --> 00:22:29.799 align:start position:0% why it's somehow going connected and we 00:22:29.799 --> 00:22:33.310 align:start position:0% why it's somehow going connected and we need<00:22:29.960> to<00:22:30.960> yeah<00:22:31.200> emphasize<00:22:31.840> that<00:22:32.480> this<00:22:32.760> token 00:22:33.310 --> 00:22:33.320 align:start position:0% need to yeah emphasize that this token 00:22:33.320 --> 00:22:37.789 align:start position:0% need to yeah emphasize that this token economics<00:22:34.320> uh<00:22:34.559> is<00:22:35.200> quite<00:22:35.520> useful<00:22:36.520> uh<00:22:37.200> for<00:22:37.559> both 00:22:37.789 --> 00:22:37.799 align:start position:0% economics uh is quite useful uh for both 00:22:37.799 --> 00:22:40.430 align:start position:0% economics uh is quite useful uh for both of<00:22:37.960> them<00:22:38.200> L1<00:22:38.640> users<00:22:38.960> and<00:22:39.080> another<00:22:39.279> L2 00:22:40.430 --> 00:22:40.440 align:start position:0% of them L1 users and another L2 00:22:40.440 --> 00:22:42.950 align:start position:0% of them L1 users and another L2 users<00:22:41.440> all 00:22:42.950 --> 00:22:42.960 align:start position:0% users all 00:22:42.960 --> 00:22:45.510 align:start position:0% users all right<00:22:43.960> now<00:22:44.159> you<00:22:44.320> come<00:22:44.520> with<00:22:44.679> the<00:22:44.840> questions<00:22:45.400> we 00:22:45.510 --> 00:22:45.520 align:start position:0% right now you come with the questions we 00:22:45.520 --> 00:22:48.190 align:start position:0% right now you come with the questions we can<00:22:45.720> only<00:22:45.960> have<00:22:46.480> one<00:22:46.799> last<00:22:47.080> one<00:22:47.360> and<00:22:47.559> that<00:22:47.799> is 00:22:48.190 --> 00:22:48.200 align:start position:0% can only have one last one and that is 00:22:48.200 --> 00:22:50.549 align:start position:0% can only have one last one and that is and<00:22:48.480> only<00:22:49.279> a<00:22:49.400> quick<00:22:49.600> answer<00:22:49.960> how<00:22:50.080> to<00:22:50.240> bridge 00:22:50.549 --> 00:22:50.559 align:start position:0% and only a quick answer how to bridge 00:22:50.559 --> 00:22:54.510 align:start position:0% and only a quick answer how to bridge esc20<00:22:51.240> token<00:22:51.559> to<00:22:52.159> inmax<00:22:53.159> oh<00:22:53.640> just<00:22:53.919> deposit 00:22:54.510 --> 00:22:54.520 align:start position:0% esc20 token to inmax oh just deposit 00:22:54.520 --> 00:22:59.230 align:start position:0% esc20 token to inmax oh just deposit it's<00:22:54.840> no<00:22:55.080> that's<00:22:55.320> it<00:22:56.200> doesn't<00:22:56.559> work 00:22:59.230 --> 00:22:59.240 align:start position:0% it's no that's it doesn't work 00:22:59.240 --> 00:23:00.990 align:start position:0% it's no that's it doesn't work all<00:22:59.400> right<00:22:59.720> then<00:22:59.919> let's<00:23:00.120> wrap<00:23:00.400> it<00:23:00.520> up<00:23:00.720> give<00:23:00.840> you 00:23:00.990 --> 00:23:01.000 align:start position:0% all right then let's wrap it up give you 00:23:01.000 --> 00:23:03.200 align:start position:0% all right then let's wrap it up give you a<00:23:01.120> big<00:23:01.360> Applause<00:23:01.720> to<00:23:01.880> Leona 00:23:03.200 --> 00:23:03.210 align:start position:0% a big Applause to Leona 00:23:03.210 --> 00:23:05.920 align:start position:0% a big Applause to Leona [Applause]