WEBVTT Kind: captions Language: en 00:00:00.000 --> 00:00:04.350 align:start position:0% foreign 00:00:04.350 --> 00:00:04.360 align:start position:0% 00:00:04.360 --> 00:00:16.129 align:start position:0% [Music] 00:00:16.129 --> 00:00:16.139 align:start position:0% 00:00:16.139 --> 00:00:18.470 align:start position:0% I'm<00:00:16.680> going<00:00:16.859> to<00:00:16.980> talk<00:00:17.220> a<00:00:17.400> bit<00:00:17.520> about<00:00:17.640> scaling 00:00:18.470 --> 00:00:18.480 align:start position:0% I'm going to talk a bit about scaling 00:00:18.480 --> 00:00:20.810 align:start position:0% I'm going to talk a bit about scaling but<00:00:18.960> I<00:00:19.140> want<00:00:19.260> to<00:00:19.440> start<00:00:19.680> first<00:00:19.980> just<00:00:20.279> with<00:00:20.520> a 00:00:20.810 --> 00:00:20.820 align:start position:0% but I want to start first just with a 00:00:20.820 --> 00:00:23.750 align:start position:0% but I want to start first just with a very<00:00:21.420> quick<00:00:21.600> apology<00:00:22.140> in<00:00:23.039> case<00:00:23.160> you<00:00:23.460> were<00:00:23.580> here 00:00:23.750 --> 00:00:23.760 align:start position:0% very quick apology in case you were here 00:00:23.760 --> 00:00:25.730 align:start position:0% very quick apology in case you were here to<00:00:24.000> hear<00:00:24.300> about<00:00:24.420> multi-dimensional<00:00:25.380> resource 00:00:25.730 --> 00:00:25.740 align:start position:0% to hear about multi-dimensional resource 00:00:25.740 --> 00:00:28.189 align:start position:0% to hear about multi-dimensional resource pricing<00:00:26.119> I<00:00:27.119> had<00:00:27.300> a<00:00:27.420> bit<00:00:27.539> of<00:00:27.660> a<00:00:27.720> hard<00:00:27.840> time<00:00:27.960> to 00:00:28.189 --> 00:00:28.199 align:start position:0% pricing I had a bit of a hard time to 00:00:28.199 --> 00:00:29.630 align:start position:0% pricing I had a bit of a hard time to make<00:00:28.320> up<00:00:28.500> my<00:00:28.619> mind<00:00:28.740> which<00:00:28.920> of<00:00:29.039> the<00:00:29.160> two<00:00:29.279> talks<00:00:29.519> I 00:00:29.630 --> 00:00:29.640 align:start position:0% make up my mind which of the two talks I 00:00:29.640 --> 00:00:30.890 align:start position:0% make up my mind which of the two talks I wanted<00:00:29.699> to<00:00:29.880> give<00:00:30.000> so<00:00:30.180> for<00:00:30.420> a<00:00:30.539> while<00:00:30.599> on<00:00:30.779> the 00:00:30.890 --> 00:00:30.900 align:start position:0% wanted to give so for a while on the 00:00:30.900 --> 00:00:33.889 align:start position:0% wanted to give so for a while on the website<00:00:31.140> both<00:00:31.439> titles<00:00:31.920> were<00:00:32.340> on<00:00:32.520> there<00:00:32.700> so<00:00:33.000> if 00:00:33.889 --> 00:00:33.899 align:start position:0% website both titles were on there so if 00:00:33.899 --> 00:00:35.510 align:start position:0% website both titles were on there so if you're<00:00:34.079> really<00:00:34.260> into<00:00:34.440> multimeter<00:00:35.219> resource 00:00:35.510 --> 00:00:35.520 align:start position:0% you're really into multimeter resource 00:00:35.520 --> 00:00:38.389 align:start position:0% you're really into multimeter resource pricing<00:00:35.820> which<00:00:36.059> you<00:00:36.300> should<00:00:36.480> be<00:00:37.160> I<00:00:38.160> can<00:00:38.280> only 00:00:38.389 --> 00:00:38.399 align:start position:0% pricing which you should be I can only 00:00:38.399 --> 00:00:40.369 align:start position:0% pricing which you should be I can only recommend<00:00:38.880> I<00:00:39.360> gave<00:00:39.480> a<00:00:39.660> talk<00:00:39.780> earlier<00:00:40.140> this 00:00:40.369 --> 00:00:40.379 align:start position:0% recommend I gave a talk earlier this 00:00:40.379 --> 00:00:43.130 align:start position:0% recommend I gave a talk earlier this year<00:00:40.879> about<00:00:41.879> it<00:00:42.239> in<00:00:42.360> the<00:00:42.480> ethereum<00:00:42.780> context 00:00:43.130 --> 00:00:43.140 align:start position:0% year about it in the ethereum context 00:00:43.140 --> 00:00:44.569 align:start position:0% year about it in the ethereum context which 00:00:44.569 --> 00:00:44.579 align:start position:0% which 00:00:44.579 --> 00:00:47.030 align:start position:0% which um<00:00:44.640> is<00:00:45.360> quite<00:00:45.960> interesting<00:00:46.260> I<00:00:46.440> think<00:00:46.559> and<00:00:46.860> then 00:00:47.030 --> 00:00:47.040 align:start position:0% um is quite interesting I think and then 00:00:47.040 --> 00:00:50.209 align:start position:0% um is quite interesting I think and then also<00:00:47.520> with<00:00:48.500> eip4844<00:00:49.500> we<00:00:49.800> are<00:00:49.920> about<00:00:50.039> to 00:00:50.209 --> 00:00:50.219 align:start position:0% also with eip4844 we are about to 00:00:50.219 --> 00:00:52.970 align:start position:0% also with eip4844 we are about to introduce<00:00:50.640> a<00:00:50.940> there's<00:00:51.840> an<00:00:52.020> open<00:00:52.079> PR<00:00:52.379> to<00:00:52.860> to 00:00:52.970 --> 00:00:52.980 align:start position:0% introduce a there's an open PR to to 00:00:52.980 --> 00:00:54.950 align:start position:0% introduce a there's an open PR to to update<00:00:53.460> the<00:00:53.579> fee<00:00:53.820> Market<00:00:53.940> there<00:00:54.239> and 00:00:54.950 --> 00:00:54.960 align:start position:0% update the fee Market there and 00:00:54.960 --> 00:00:56.389 align:start position:0% update the fee Market there and hopefully<00:00:55.320> fingers<00:00:55.680> crossed<00:00:56.039> this<00:00:56.100> will<00:00:56.280> be 00:00:56.389 --> 00:00:56.399 align:start position:0% hopefully fingers crossed this will be 00:00:56.399 --> 00:00:58.430 align:start position:0% hopefully fingers crossed this will be the<00:00:56.520> very<00:00:56.640> first<00:00:56.820> time<00:00:57.059> that<00:00:57.360> we<00:00:57.539> start<00:00:57.780> moving 00:00:58.430 --> 00:00:58.440 align:start position:0% the very first time that we start moving 00:00:58.440 --> 00:00:59.990 align:start position:0% the very first time that we start moving to<00:00:58.559> multi-dimensional<00:00:59.219> Resource<00:00:59.460> pricing<00:00:59.760> in 00:00:59.990 --> 00:01:00.000 align:start position:0% to multi-dimensional Resource pricing in 00:01:00.000 --> 00:01:01.490 align:start position:0% to multi-dimensional Resource pricing in practice<00:01:00.120> on<00:01:00.420> ethereum<00:01:00.840> like<00:01:01.079> in<00:01:01.260> this<00:01:01.379> case 00:01:01.490 --> 00:01:01.500 align:start position:0% practice on ethereum like in this case 00:01:01.500 --> 00:01:05.030 align:start position:0% practice on ethereum like in this case two-dimensional<00:01:02.160> so<00:01:02.399> do<00:01:03.120> have<00:01:03.359> a<00:01:03.480> look 00:01:05.030 --> 00:01:05.040 align:start position:0% two-dimensional so do have a look 00:01:05.040 --> 00:01:07.730 align:start position:0% two-dimensional so do have a look um<00:01:05.100> but<00:01:05.460> today<00:01:05.880> here<00:01:06.780> I'll<00:01:07.439> talk<00:01:07.619> about 00:01:07.730 --> 00:01:07.740 align:start position:0% um but today here I'll talk about 00:01:07.740 --> 00:01:09.469 align:start position:0% um but today here I'll talk about scaling<00:01:08.220> and<00:01:08.340> specifically 00:01:09.469 --> 00:01:09.479 align:start position:0% scaling and specifically 00:01:09.479 --> 00:01:10.250 align:start position:0% scaling and specifically um 00:01:10.250 --> 00:01:10.260 align:start position:0% um 00:01:10.260 --> 00:01:12.410 align:start position:0% um um<00:01:10.380> Roll-Ups<00:01:10.920> why<00:01:11.100> Roll-Ups 00:01:12.410 --> 00:01:12.420 align:start position:0% um Roll-Ups why Roll-Ups 00:01:12.420 --> 00:01:16.070 align:start position:0% um Roll-Ups why Roll-Ups um first<00:01:13.260> one<00:01:13.500> I<00:01:13.680> want<00:01:13.920> to<00:01:14.100> talk<00:01:15.060> more<00:01:15.299> more<00:01:15.540> in 00:01:16.070 --> 00:01:16.080 align:start position:0% um first one I want to talk more more in 00:01:16.080 --> 00:01:19.130 align:start position:0% um first one I want to talk more more in on<00:01:16.439> the<00:01:16.619> theoretical<00:01:17.040> side<00:01:17.220> why<00:01:17.820> really<00:01:18.420> is<00:01:18.840> a 00:01:19.130 --> 00:01:19.140 align:start position:0% on the theoretical side why really is a 00:01:19.140 --> 00:01:20.929 align:start position:0% on the theoretical side why really is a roll<00:01:19.380> up<00:01:19.560> so<00:01:19.799> fundamental<00:01:20.220> to<00:01:20.340> scaling<00:01:20.759> and 00:01:20.929 --> 00:01:20.939 align:start position:0% roll up so fundamental to scaling and 00:01:20.939 --> 00:01:22.070 align:start position:0% roll up so fundamental to scaling and then 00:01:22.070 --> 00:01:22.080 align:start position:0% then 00:01:22.080 --> 00:01:23.770 align:start position:0% then um<00:01:22.140> bring<00:01:22.439> it<00:01:22.619> back<00:01:22.799> and<00:01:23.040> and<00:01:23.280> talk<00:01:23.520> about 00:01:23.770 --> 00:01:23.780 align:start position:0% um bring it back and and talk about 00:01:23.780 --> 00:01:26.990 align:start position:0% um bring it back and and talk about ethereum's<00:01:24.780> uh<00:01:25.380> future<00:01:25.619> place<00:01:25.979> in<00:01:26.640> that<00:01:26.820> world 00:01:26.990 --> 00:01:27.000 align:start position:0% ethereum's uh future place in that world 00:01:27.000 --> 00:01:28.550 align:start position:0% ethereum's uh future place in that world basically 00:01:28.550 --> 00:01:28.560 align:start position:0% basically 00:01:28.560 --> 00:01:31.969 align:start position:0% basically um<00:01:28.680> so<00:01:28.920> first<00:01:29.100> why<00:01:29.939> why<00:01:30.540> roll<00:01:30.840> ups 00:01:31.969 --> 00:01:31.979 align:start position:0% um so first why why roll ups 00:01:31.979 --> 00:01:35.330 align:start position:0% um so first why why roll ups um<00:01:32.100> uh<00:01:32.939> and<00:01:33.060> and<00:01:33.240> I<00:01:33.540> want<00:01:33.600> to<00:01:33.720> start<00:01:33.840> by<00:01:34.320> uh<00:01:35.220> with 00:01:35.330 --> 00:01:35.340 align:start position:0% um uh and and I want to start by uh with 00:01:35.340 --> 00:01:37.249 align:start position:0% um uh and and I want to start by uh with something<00:01:35.820> that<00:01:36.060> I<00:01:36.180> call<00:01:36.299> execution<00:01:36.840> chains 00:01:37.249 --> 00:01:37.259 align:start position:0% something that I call execution chains 00:01:37.259 --> 00:01:38.990 align:start position:0% something that I call execution chains it's<00:01:37.380> basically<00:01:37.680> just<00:01:37.920> blockchains<00:01:38.759> as<00:01:38.880> you 00:01:38.990 --> 00:01:39.000 align:start position:0% it's basically just blockchains as you 00:01:39.000 --> 00:01:40.850 align:start position:0% it's basically just blockchains as you know<00:01:39.119> them<00:01:39.299> so<00:01:39.780> uh<00:01:40.020> Bitcoin<00:01:40.439> of<00:01:40.560> course<00:01:40.680> was 00:01:40.850 --> 00:01:40.860 align:start position:0% know them so uh Bitcoin of course was 00:01:40.860 --> 00:01:42.289 align:start position:0% know them so uh Bitcoin of course was the<00:01:41.100> very<00:01:41.220> first<00:01:41.400> ever 00:01:42.289 --> 00:01:42.299 align:start position:0% the very first ever 00:01:42.299 --> 00:01:45.230 align:start position:0% the very first ever um<00:01:42.360> special<00:01:42.780> purpose<00:01:43.259> execution<00:01:44.220> chain<00:01:44.460> uh 00:01:45.230 --> 00:01:45.240 align:start position:0% um special purpose execution chain uh 00:01:45.240 --> 00:01:46.429 align:start position:0% um special purpose execution chain uh special<00:01:45.479> purpose<00:01:45.780> just<00:01:45.900> because<00:01:46.079> it's<00:01:46.259> only 00:01:46.429 --> 00:01:46.439 align:start position:0% special purpose just because it's only 00:01:46.439 --> 00:01:49.490 align:start position:0% special purpose just because it's only for<00:01:46.680> payments<00:01:47.100> and<00:01:47.280> and<00:01:47.520> money<00:01:48.119> uh<00:01:49.079> ethereum 00:01:49.490 --> 00:01:49.500 align:start position:0% for payments and and money uh ethereum 00:01:49.500 --> 00:01:50.929 align:start position:0% for payments and and money uh ethereum the<00:01:49.740> very<00:01:49.920> first<00:01:50.100> a<00:01:50.399> general<00:01:50.579> purpose 00:01:50.929 --> 00:01:50.939 align:start position:0% the very first a general purpose 00:01:50.939 --> 00:01:53.330 align:start position:0% the very first a general purpose execution<00:01:51.360> chain<00:01:51.540> in<00:01:51.899> general<00:01:52.200> all<00:01:53.159> these 00:01:53.330 --> 00:01:53.340 align:start position:0% execution chain in general all these 00:01:53.340 --> 00:01:54.410 align:start position:0% execution chain in general all these chains<00:01:53.640> of<00:01:53.759> course<00:01:53.880> they<00:01:54.119> want<00:01:54.240> to<00:01:54.299> have 00:01:54.410 --> 00:01:54.420 align:start position:0% chains of course they want to have 00:01:54.420 --> 00:01:56.990 align:start position:0% chains of course they want to have maximum<00:01:54.780> functionality<00:01:55.200> maximum<00:01:55.680> throughput 00:01:56.990 --> 00:01:57.000 align:start position:0% maximum functionality maximum throughput 00:01:57.000 --> 00:01:59.149 align:start position:0% maximum functionality maximum throughput um<00:01:57.119> but<00:01:57.540> that<00:01:58.140> that's<00:01:58.380> attention<00:01:58.799> with 00:01:59.149 --> 00:01:59.159 align:start position:0% um but that that's attention with 00:01:59.159 --> 00:02:00.590 align:start position:0% um but that that's attention with needing<00:01:59.520> to<00:01:59.640> guarantee<00:01:59.939> security<00:02:00.240> and 00:02:00.590 --> 00:02:00.600 align:start position:0% needing to guarantee security and 00:02:00.600 --> 00:02:03.230 align:start position:0% needing to guarantee security and decentralization<00:02:01.439> and<00:02:02.399> to<00:02:02.700> illustrate<00:02:03.060> that 00:02:03.230 --> 00:02:03.240 align:start position:0% decentralization and to illustrate that 00:02:03.240 --> 00:02:04.850 align:start position:0% decentralization and to illustrate that kind<00:02:03.360> of<00:02:03.479> the<00:02:03.600> tension 00:02:04.850 --> 00:02:04.860 align:start position:0% kind of the tension 00:02:04.860 --> 00:02:07.249 align:start position:0% kind of the tension um I<00:02:05.340> created<00:02:05.640> this<00:02:05.880> little<00:02:06.119> uh<00:02:06.420> final<00:02:06.780> graph 00:02:07.249 --> 00:02:07.259 align:start position:0% um I created this little uh final graph 00:02:07.259 --> 00:02:09.669 align:start position:0% um I created this little uh final graph so<00:02:07.439> basically<00:02:07.740> uh<00:02:08.160> on<00:02:08.340> the<00:02:08.399> on<00:02:08.580> the 00:02:09.669 --> 00:02:09.679 align:start position:0% so basically uh on the on the 00:02:09.679 --> 00:02:11.809 align:start position:0% so basically uh on the on the x-axis<00:02:10.679> you<00:02:10.860> have<00:02:10.979> the<00:02:11.099> cost<00:02:11.220> to<00:02:11.400> run<00:02:11.520> a<00:02:11.700> full 00:02:11.809 --> 00:02:11.819 align:start position:0% x-axis you have the cost to run a full 00:02:11.819 --> 00:02:13.550 align:start position:0% x-axis you have the cost to run a full node<00:02:12.060> and<00:02:12.180> on<00:02:12.360> the<00:02:12.420> y-axis<00:02:12.780> you<00:02:12.959> have<00:02:13.080> the<00:02:13.200> the 00:02:13.550 --> 00:02:13.560 align:start position:0% node and on the y-axis you have the the 00:02:13.560 --> 00:02:16.010 align:start position:0% node and on the y-axis you have the the throughput<00:02:14.040> that<00:02:14.220> your<00:02:14.340> network<00:02:14.520> can<00:02:14.819> have 00:02:16.010 --> 00:02:16.020 align:start position:0% throughput that your network can have 00:02:16.020 --> 00:02:17.990 align:start position:0% throughput that your network can have um<00:02:16.140> and<00:02:16.500> with<00:02:16.620> the<00:02:16.860> Bitcoin<00:02:17.400> and<00:02:17.520> ethereum 00:02:17.990 --> 00:02:18.000 align:start position:0% um and with the Bitcoin and ethereum 00:02:18.000 --> 00:02:20.270 align:start position:0% um and with the Bitcoin and ethereum basically<00:02:18.420> uh<00:02:19.020> you<00:02:19.200> are<00:02:19.319> in<00:02:19.500> this<00:02:19.620> nice<00:02:19.860> Zone 00:02:20.270 --> 00:02:20.280 align:start position:0% basically uh you are in this nice Zone 00:02:20.280 --> 00:02:22.309 align:start position:0% basically uh you are in this nice Zone where<00:02:20.700> they're<00:02:21.420> down<00:02:21.660> there<00:02:21.780> where<00:02:22.020> basically 00:02:22.309 --> 00:02:22.319 align:start position:0% where they're down there where basically 00:02:22.319 --> 00:02:24.110 align:start position:0% where they're down there where basically everyone<00:02:22.500> wants<00:02:23.099> to<00:02:23.160> can<00:02:23.520> run<00:02:23.700> their<00:02:23.940> own 00:02:24.110 --> 00:02:24.120 align:start position:0% everyone wants to can run their own 00:02:24.120 --> 00:02:26.750 align:start position:0% everyone wants to can run their own chain<00:02:24.300> locally<00:02:24.959> I<00:02:25.800> don't<00:02:25.980> run<00:02:26.160> my<00:02:26.280> own<00:02:26.400> Bitcoin 00:02:26.750 --> 00:02:26.760 align:start position:0% chain locally I don't run my own Bitcoin 00:02:26.760 --> 00:02:28.610 align:start position:0% chain locally I don't run my own Bitcoin chain<00:02:26.879> right<00:02:27.120> okay<00:02:27.480> okay<00:02:27.599> so<00:02:28.020> it<00:02:28.140> is<00:02:28.260> Bitcoin 00:02:28.610 --> 00:02:28.620 align:start position:0% chain right okay okay so it is Bitcoin 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are<00:02:35.220> fundamentally<00:02:35.700> Limited<00:02:36.120> in<00:02:36.300> throughput 00:02:36.650 --> 00:02:36.660 align:start position:0% are fundamentally Limited in throughput 00:02:36.660 --> 00:02:40.010 align:start position:0% are fundamentally Limited in throughput right<00:02:36.900> by<00:02:37.260> by<00:02:37.920> uh<00:02:38.819> basically<00:02:39.540> the<00:02:39.720> minimum 00:02:40.010 --> 00:02:40.020 align:start position:0% right by by uh basically the minimum 00:02:40.020 --> 00:02:42.589 align:start position:0% right by by uh basically the minimum consumer<00:02:40.680> Hardware<00:02:40.879> capabilities<00:02:41.879> and<00:02:42.300> and 00:02:42.589 --> 00:02:42.599 align:start position:0% consumer Hardware capabilities and and 00:02:42.599 --> 00:02:44.270 align:start position:0% consumer Hardware capabilities and and kind<00:02:42.900> of<00:02:43.019> the<00:02:43.080> key<00:02:43.379> Insight<00:02:43.680> you<00:02:43.860> release<00:02:44.040> that 00:02:44.270 --> 00:02:44.280 align:start position:0% kind of the key Insight you release that 00:02:44.280 --> 00:02:45.830 align:start position:0% kind of the key Insight you release that like<00:02:44.459> everyone<00:02:44.700> validating<00:02:45.300> everyone's 00:02:45.830 --> 00:02:45.840 align:start position:0% like everyone validating everyone's 00:02:45.840 --> 00:02:47.509 align:start position:0% like everyone validating everyone's transaction<00:02:46.140> doesn't<00:02:46.440> scale 00:02:47.509 --> 00:02:47.519 align:start position:0% transaction doesn't scale 00:02:47.519 --> 00:02:50.030 align:start position:0% transaction doesn't scale but<00:02:48.120> of<00:02:48.300> course<00:02:48.480> we<00:02:49.019> we<00:02:49.200> don't<00:02:49.620> want<00:02:49.739> to<00:02:49.860> give 00:02:50.030 --> 00:02:50.040 align:start position:0% but of course we we don't want to give 00:02:50.040 --> 00:02:51.830 align:start position:0% but of course we we don't want to give up<00:02:50.280> you<00:02:50.580> know<00:02:50.700> security<00:02:50.879> by<00:02:51.300> by<00:02:51.540> kind<00:02:51.780> of 00:02:51.830 --> 00:02:51.840 align:start position:0% up you know security by by kind of 00:02:51.840 --> 00:02:53.150 align:start position:0% up you know security by by kind of moving<00:02:52.140> beyond<00:02:52.379> this<00:02:52.500> so<00:02:52.739> like<00:02:52.860> the<00:02:53.040> very 00:02:53.150 --> 00:02:53.160 align:start position:0% moving beyond this so like the very 00:02:53.160 --> 00:02:55.369 align:start position:0% moving beyond this so like the very first<00:02:53.400> thing<00:02:53.580> you<00:02:53.760> could<00:02:53.879> do<00:02:54.000> and<00:02:54.300> I<00:02:54.900> I<00:02:55.140> picked 00:02:55.369 --> 00:02:55.379 align:start position:0% first thing you could do and I I picked 00:02:55.379 --> 00:02:57.110 align:start position:0% first thing you could do and I I picked Solana<00:02:55.739> just<00:02:55.920> as<00:02:56.040> an<00:02:56.160> example<00:02:56.459> and<00:02:56.640> this<00:02:56.940> is 00:02:57.110 --> 00:02:57.120 align:start position:0% Solana just as an example and this is 00:02:57.120 --> 00:02:58.790 align:start position:0% Solana just as an example and this is not<00:02:57.180> meant<00:02:57.480> as<00:02:57.540> a<00:02:57.720> slide<00:02:57.900> at<00:02:58.080> all<00:02:58.200> actually<00:02:58.500> I 00:02:58.790 --> 00:02:58.800 align:start position:0% not meant as a slide at all actually I 00:02:58.800 --> 00:03:01.670 align:start position:0% not meant as a slide at all actually I think<00:02:58.980> uh<00:02:59.519> in<00:02:59.760> a<00:03:00.000> second<00:03:00.120> you'll<00:03:00.540> uh<00:03:01.140> kind<00:03:01.560> of 00:03:01.670 --> 00:03:01.680 align:start position:0% think uh in a second you'll uh kind of 00:03:01.680 --> 00:03:03.830 align:start position:0% think uh in a second you'll uh kind of see<00:03:01.800> how<00:03:02.160> in<00:03:02.580> a<00:03:02.700> way<00:03:02.819> they're<00:03:03.120> kind<00:03:03.300> of<00:03:03.420> moving 00:03:03.830 --> 00:03:03.840 align:start position:0% see how in a way they're kind of moving 00:03:03.840 --> 00:03:05.750 align:start position:0% see how in a way they're kind of moving in<00:03:04.019> an<00:03:04.379> interesting<00:03:04.800> Direction<00:03:04.920> here<00:03:05.340> but<00:03:05.519> but 00:03:05.750 --> 00:03:05.760 align:start position:0% in an interesting Direction here but but 00:03:05.760 --> 00:03:07.850 align:start position:0% in an interesting Direction here but but basically<00:03:06.180> what<00:03:06.360> they're<00:03:06.660> doing<00:03:06.900> what<00:03:07.200> their 00:03:07.850 --> 00:03:07.860 align:start position:0% basically what they're doing what their 00:03:07.860 --> 00:03:09.830 align:start position:0% basically what they're doing what their version<00:03:08.280> of<00:03:08.519> scaling<00:03:09.000> is<00:03:09.120> just<00:03:09.360> to<00:03:09.480> basically 00:03:09.830 --> 00:03:09.840 align:start position:0% version of scaling is just to basically 00:03:09.840 --> 00:03:12.350 align:start position:0% version of scaling is just to basically go<00:03:10.080> further<00:03:10.500> up<00:03:10.680> this<00:03:10.920> diagonal 00:03:12.350 --> 00:03:12.360 align:start position:0% go further up this diagonal 00:03:12.360 --> 00:03:14.270 align:start position:0% go further up this diagonal um<00:03:12.480> and<00:03:13.200> that<00:03:13.620> does<00:03:13.739> give<00:03:13.920> you<00:03:14.040> a<00:03:14.099> higher 00:03:14.270 --> 00:03:14.280 align:start position:0% um and that does give you a higher 00:03:14.280 --> 00:03:15.770 align:start position:0% um and that does give you a higher throughput<00:03:14.580> but<00:03:14.819> of<00:03:14.940> course<00:03:15.060> it<00:03:15.239> means<00:03:15.540> that 00:03:15.770 --> 00:03:15.780 align:start position:0% throughput but of course it means that 00:03:15.780 --> 00:03:18.649 align:start position:0% throughput but of course it means that now<00:03:16.080> running<00:03:16.800> a<00:03:17.159> full<00:03:17.280> node<00:03:17.640> is<00:03:17.879> it<00:03:18.180> becomes 00:03:18.649 --> 00:03:18.659 align:start position:0% now running a full node is it becomes 00:03:18.659 --> 00:03:20.390 align:start position:0% now running a full node is it becomes really<00:03:18.840> expensive<00:03:19.379> so<00:03:19.680> that's<00:03:19.800> one<00:03:20.040> way<00:03:20.220> of 00:03:20.390 --> 00:03:20.400 align:start position:0% really expensive so that's one way of 00:03:20.400 --> 00:03:22.970 align:start position:0% really expensive so that's one way of just<00:03:20.580> increasing<00:03:21.060> a<00:03:21.840> throughput<00:03:22.319> the<00:03:22.800> problem 00:03:22.970 --> 00:03:22.980 align:start position:0% just increasing a throughput the problem 00:03:22.980 --> 00:03:24.710 align:start position:0% just increasing a throughput the problem is<00:03:23.220> what<00:03:23.580> if<00:03:23.760> you<00:03:23.879> don't<00:03:24.000> run<00:03:24.239> your<00:03:24.420> own<00:03:24.540> full 00:03:24.710 --> 00:03:24.720 align:start position:0% is what if you don't run your own full 00:03:24.720 --> 00:03:25.850 align:start position:0% is what if you don't run your own full node<00:03:25.080> and<00:03:25.260> there's<00:03:25.440> some<00:03:25.680> sort<00:03:25.800> of 00:03:25.850 --> 00:03:25.860 align:start position:0% node and there's some sort of 00:03:25.860 --> 00:03:27.589 align:start position:0% node and there's some sort of disagreement<00:03:26.340> right<00:03:26.640> some<00:03:26.940> some<00:03:27.120> malicious 00:03:27.589 --> 00:03:27.599 align:start position:0% disagreement right some some malicious 00:03:27.599 --> 00:03:30.589 align:start position:0% disagreement right some some malicious attack<00:03:27.780> some<00:03:28.319> some<00:03:28.620> chain<00:03:29.159> Fork<00:03:29.580> uh<00:03:30.300> you<00:03:30.480> only 00:03:30.589 --> 00:03:30.599 align:start position:0% attack some some chain Fork uh you only 00:03:30.599 --> 00:03:31.910 align:start position:0% attack some some chain Fork uh you only have<00:03:30.780> two<00:03:30.900> choices<00:03:31.080> either<00:03:31.319> you<00:03:31.560> go<00:03:31.620> with<00:03:31.739> a 00:03:31.910 --> 00:03:31.920 align:start position:0% have two choices either you go with a 00:03:31.920 --> 00:03:34.190 align:start position:0% have two choices either you go with a majority<00:03:32.220> in<00:03:32.640> which<00:03:32.760> case<00:03:33.000> 51<00:03:33.599> of<00:03:33.959> the<00:03:34.080> network 00:03:34.190 --> 00:03:34.200 align:start position:0% majority in which case 51 of the network 00:03:34.200 --> 00:03:35.869 align:start position:0% majority in which case 51 of the network can<00:03:34.500> always<00:03:34.620> rewrite<00:03:34.980> all<00:03:35.220> the<00:03:35.400> rules<00:03:35.580> take 00:03:35.869 --> 00:03:35.879 align:start position:0% can always rewrite all the rules take 00:03:35.879 --> 00:03:37.970 align:start position:0% can always rewrite all the rules take away<00:03:36.000> your<00:03:36.239> money<00:03:36.420> everything<00:03:36.720> right<00:03:37.080> all<00:03:37.800> the 00:03:37.970 --> 00:03:37.980 align:start position:0% away your money everything right all the 00:03:37.980 --> 00:03:39.110 align:start position:0% away your money everything right all the other<00:03:38.159> the<00:03:38.459> other<00:03:38.519> thing<00:03:38.640> you<00:03:38.819> can<00:03:38.940> of<00:03:39.060> course 00:03:39.110 --> 00:03:39.120 align:start position:0% other the other thing you can of course 00:03:39.120 --> 00:03:41.270 align:start position:0% other the other thing you can of course do<00:03:39.360> is<00:03:39.480> how<00:03:39.720> Halt<00:03:40.200> and<00:03:40.379> recover<00:03:40.860> via<00:03:41.159> the 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to end up on that graph that's basically<00:03:48.720> this<00:03:49.080> what<00:03:49.560> I<00:03:49.860> call<00:03:50.040> the<00:03:50.220> Unicorn 00:03:50.570 --> 00:03:50.580 align:start position:0% basically this what I call the Unicorn 00:03:50.580 --> 00:03:54.949 align:start position:0% basically this what I call the Unicorn Zone<00:03:50.879> up<00:03:51.239> there<00:03:51.680> where<00:03:52.680> everyone<00:03:53.519> could<00:03:54.480> you 00:03:54.949 --> 00:03:54.959 align:start position:0% Zone up there where everyone could you 00:03:54.959 --> 00:03:56.330 align:start position:0% Zone up there where everyone could you know<00:03:55.200> trustlessly<00:03:55.680> validate<00:03:56.099> the<00:03:56.220> network 00:03:56.330 --> 00:03:56.340 align:start position:0% know trustlessly validate the network 00:03:56.340 --> 00:03:58.009 align:start position:0% know trustlessly validate the network but<00:03:56.640> we<00:03:56.819> still<00:03:57.000> have<00:03:57.180> like<00:03:57.360> really<00:03:57.780> high 00:03:58.009 --> 00:03:58.019 align:start position:0% but we still have like really high 00:03:58.019 --> 00:03:59.630 align:start position:0% but we still have like really high throughput 00:03:59.630 --> 00:03:59.640 align:start position:0% throughput 00:03:59.640 --> 00:04:02.990 align:start position:0% throughput um<00:03:59.700> so<00:04:00.060> how<00:04:00.599> how<00:04:00.840> can<00:04:01.319> we<00:04:01.440> basically<00:04:01.799> find<00:04:02.760> a 00:04:02.990 --> 00:04:03.000 align:start position:0% um so how how can we basically find a 00:04:03.000 --> 00:04:05.089 align:start position:0% um so how how can we basically find a way<00:04:03.180> to<00:04:03.420> to<00:04:03.659> to<00:04:03.780> get<00:04:04.319> there 00:04:05.089 --> 00:04:05.099 align:start position:0% way to to to get there 00:04:05.099 --> 00:04:07.369 align:start position:0% way to to to get there um<00:04:05.700> and<00:04:06.120> and<00:04:06.120> that's<00:04:06.480> basically<00:04:06.780> where<00:04:06.959> roll 00:04:07.369 --> 00:04:07.379 align:start position:0% um and and that's basically where roll 00:04:07.379 --> 00:04:09.170 align:start position:0% um and and that's basically where roll ups<00:04:07.680> come<00:04:07.860> in<00:04:07.980> and<00:04:08.159> why<00:04:08.340> do<00:04:08.519> Roll-Ups<00:04:08.940> come<00:04:09.060> in 00:04:09.170 --> 00:04:09.180 align:start position:0% ups come in and why do Roll-Ups come in 00:04:09.180 --> 00:04:11.509 align:start position:0% ups come in and why do Roll-Ups come in there<00:04:09.780> um<00:04:09.840> to<00:04:10.019> explain<00:04:10.140> that<00:04:10.500> as<00:04:11.099> you<00:04:11.280> might<00:04:11.400> be 00:04:11.509 --> 00:04:11.519 align:start position:0% there um to explain that as you might be 00:04:11.519 --> 00:04:12.890 align:start position:0% there um to explain that as you might be aware<00:04:11.700> you<00:04:12.060> probably<00:04:12.180> are<00:04:12.360> aware<00:04:12.540> there<00:04:12.780> are 00:04:12.890 --> 00:04:12.900 align:start position:0% aware you probably are aware there are 00:04:12.900 --> 00:04:14.449 align:start position:0% aware you probably are aware there are like<00:04:13.019> two<00:04:13.140> different<00:04:13.379> flavors<00:04:13.799> of<00:04:13.920> Roll-Ups 00:04:14.449 --> 00:04:14.459 align:start position:0% like two different flavors of Roll-Ups 00:04:14.459 --> 00:04:17.150 align:start position:0% like two different flavors of Roll-Ups optimistic<00:04:15.299> and<00:04:15.420> ZK<00:04:15.659> Roll-Ups<00:04:16.199> the<00:04:16.680> easier<00:04:16.979> to 00:04:17.150 --> 00:04:17.160 align:start position:0% optimistic and ZK Roll-Ups the easier to 00:04:17.160 --> 00:04:18.590 align:start position:0% optimistic and ZK Roll-Ups the easier to explain<00:04:17.280> in<00:04:17.519> this<00:04:17.639> context<00:04:17.880> is<00:04:18.060> optimistic 00:04:18.590 --> 00:04:18.600 align:start position:0% explain in this context is optimistic 00:04:18.600 --> 00:04:21.469 align:start position:0% explain in this context is optimistic rollups<00:04:19.139> so<00:04:19.260> uh<00:04:20.100> to<00:04:20.280> talk<00:04:20.519> basically<00:04:21.000> to<00:04:21.299> to 00:04:21.469 --> 00:04:21.479 align:start position:0% rollups so uh to talk basically to to 00:04:21.479 --> 00:04:23.270 align:start position:0% rollups so uh to talk basically to to kind<00:04:21.780> of<00:04:21.900> get<00:04:22.079> any<00:04:22.199> tuition<00:04:22.500> for<00:04:22.860> for<00:04:23.040> how 00:04:23.270 --> 00:04:23.280 align:start position:0% kind of get any tuition for for how 00:04:23.280 --> 00:04:24.950 align:start position:0% kind of get any tuition for for how optimistic<00:04:23.820> will<00:04:23.940> have<00:04:24.180> solve<00:04:24.479> this<00:04:24.660> this 00:04:24.950 --> 00:04:24.960 align:start position:0% optimistic will have solve this this 00:04:24.960 --> 00:04:27.590 align:start position:0% optimistic will have solve this this kind<00:04:25.259> of<00:04:25.380> this<00:04:25.620> dilemma<00:04:26.160> here<00:04:26.340> and<00:04:27.180> we<00:04:27.479> can 00:04:27.590 --> 00:04:27.600 align:start position:0% kind of this dilemma here and we can 00:04:27.600 --> 00:04:29.270 align:start position:0% kind of this dilemma here and we can look<00:04:28.139> look<00:04:28.320> again<00:04:28.560> at<00:04:28.800> the<00:04:28.860> at<00:04:28.979> the<00:04:29.160> Savannah 00:04:29.270 --> 00:04:29.280 align:start position:0% look look again at the at the Savannah 00:04:29.280 --> 00:04:31.370 align:start position:0% look look again at the at the Savannah case<00:04:29.699> and<00:04:29.880> as<00:04:30.120> I<00:04:30.300> was<00:04:30.419> talking<00:04:30.600> about<00:04:30.780> right<00:04:31.080> if 00:04:31.370 --> 00:04:31.380 align:start position:0% case and as I was talking about right if 00:04:31.380 --> 00:04:33.650 align:start position:0% case and as I was talking about right if if<00:04:31.860> there's<00:04:32.340> a<00:04:32.520> disagreement<00:04:33.000> and<00:04:33.300> even<00:04:33.419> if 00:04:33.650 --> 00:04:33.660 align:start position:0% if there's a disagreement and even if 00:04:33.660 --> 00:04:35.629 align:start position:0% if there's a disagreement and even if you<00:04:33.780> don't<00:04:33.960> run<00:04:34.500> your<00:04:34.620> own<00:04:34.800> full<00:04:34.979> node<00:04:35.280> you 00:04:35.629 --> 00:04:35.639 align:start position:0% you don't run your own full node you 00:04:35.639 --> 00:04:37.850 align:start position:0% you don't run your own full node you always<00:04:35.820> have<00:04:36.000> the<00:04:36.180> of<00:04:36.419> the<00:04:37.139> option<00:04:37.440> to<00:04:37.620> just 00:04:37.850 --> 00:04:37.860 align:start position:0% always have the of the option to just 00:04:37.860 --> 00:04:40.670 align:start position:0% always have the of the option to just Halt<00:04:38.340> and<00:04:38.520> recover<00:04:38.820> by<00:04:39.060> the<00:04:39.300> social<00:04:39.780> layer<00:04:40.199> and 00:04:40.670 --> 00:04:40.680 align:start position:0% Halt and recover by the social layer and 00:04:40.680 --> 00:04:42.409 align:start position:0% Halt and recover by the social layer and the<00:04:40.800> optimistic<00:04:41.280> roll-up<00:04:41.639> kind<00:04:41.820> of<00:04:41.940> idea<00:04:42.240> here 00:04:42.409 --> 00:04:42.419 align:start position:0% the optimistic roll-up kind of idea here 00:04:42.419 --> 00:04:44.749 align:start position:0% the optimistic roll-up kind of idea here is<00:04:42.600> what<00:04:43.020> if<00:04:43.199> we<00:04:43.320> could<00:04:43.500> just<00:04:43.740> massively<00:04:44.520> speed 00:04:44.749 --> 00:04:44.759 align:start position:0% is what if we could just massively speed 00:04:44.759 --> 00:04:47.210 align:start position:0% is what if we could just massively speed that<00:04:45.000> up<00:04:45.120> right<00:04:45.360> instead<00:04:45.660> of<00:04:45.780> running<00:04:46.220> that 00:04:47.210 --> 00:04:47.220 align:start position:0% that up right instead of running that 00:04:47.220 --> 00:04:48.170 align:start position:0% that up right instead of running that kind<00:04:47.520> of 00:04:48.170 --> 00:04:48.180 align:start position:0% kind of 00:04:48.180 --> 00:04:49.909 align:start position:0% kind of um<00:04:48.300> this<00:04:48.540> this<00:04:48.660> fallback<00:04:49.020> mechanism<00:04:49.500> on<00:04:49.740> human 00:04:49.909 --> 00:04:49.919 align:start position:0% um this this fallback mechanism on human 00:04:49.919 --> 00:04:51.950 align:start position:0% um this this fallback mechanism on human brains<00:04:50.460> where<00:04:51.060> whenever<00:04:51.479> something<00:04:51.720> goes 00:04:51.950 --> 00:04:51.960 align:start position:0% brains where whenever something goes 00:04:51.960 --> 00:04:52.909 align:start position:0% brains where whenever something goes wrong<00:04:52.020> you<00:04:52.199> have<00:04:52.320> to<00:04:52.380> actually<00:04:52.500> go<00:04:52.680> on<00:04:52.740> Twitter 00:04:52.909 --> 00:04:52.919 align:start position:0% wrong you have to actually go on Twitter 00:04:52.919 --> 00:04:55.550 align:start position:0% wrong you have to actually go on Twitter and<00:04:53.100> whatnot<00:04:53.460> what<00:04:54.000> if<00:04:54.240> we<00:04:54.780> basically<00:04:55.199> just 00:04:55.550 --> 00:04:55.560 align:start position:0% and whatnot what if we basically just 00:04:55.560 --> 00:04:57.710 align:start position:0% and whatnot what if we basically just automate<00:04:56.220> that<00:04:56.400> right<00:04:56.639> like<00:04:56.940> we<00:04:57.240> replace<00:04:57.479> the 00:04:57.710 --> 00:04:57.720 align:start position:0% automate that right like we replace the 00:04:57.720 --> 00:05:00.770 align:start position:0% automate that right like we replace the human<00:04:57.840> brain<00:04:58.199> with<00:04:58.380> uh<00:04:58.800> with<00:04:59.040> software<00:04:59.460> and<00:05:00.419> in 00:05:00.770 --> 00:05:00.780 align:start position:0% human brain with uh with software and in 00:05:00.780 --> 00:05:03.409 align:start position:0% human brain with uh with software and in particular<00:05:01.080> with<00:05:01.320> fraud<00:05:01.919> proofs<00:05:02.280> and<00:05:02.639> and 00:05:03.409 --> 00:05:03.419 align:start position:0% particular with fraud proofs and and 00:05:03.419 --> 00:05:04.730 align:start position:0% particular with fraud proofs and and um<00:05:03.479> and<00:05:03.780> that's<00:05:03.900> how<00:05:04.139> you<00:05:04.259> how<00:05:04.440> you<00:05:04.620> get 00:05:04.730 --> 00:05:04.740 align:start position:0% um and that's how you how you get 00:05:04.740 --> 00:05:07.550 align:start position:0% um and that's how you how you get optimistic<00:05:05.460> growth<00:05:05.639> so<00:05:06.300> kind<00:05:06.960> of<00:05:07.080> trying<00:05:07.380> to 00:05:07.550 --> 00:05:07.560 align:start position:0% optimistic growth so kind of trying to 00:05:07.560 --> 00:05:08.810 align:start position:0% optimistic growth so kind of trying to keep<00:05:07.680> with<00:05:07.860> my<00:05:08.040> little<00:05:08.160> picture<00:05:08.460> some 00:05:08.810 --> 00:05:08.820 align:start position:0% keep with my little picture some 00:05:08.820 --> 00:05:11.450 align:start position:0% keep with my little picture some symbolism<00:05:09.720> so<00:05:10.020> so<00:05:10.320> their<00:05:10.620> optimistic<00:05:11.160> rollups 00:05:11.450 --> 00:05:11.460 align:start position:0% symbolism so so their optimistic rollups 00:05:11.460 --> 00:05:13.010 align:start position:0% symbolism so so their optimistic rollups are<00:05:11.520> also<00:05:11.699> basically<00:05:12.000> a<00:05:12.240> form<00:05:12.419> of<00:05:12.600> an 00:05:13.010 --> 00:05:13.020 align:start position:0% are also basically a form of an 00:05:13.020 --> 00:05:14.150 align:start position:0% are also basically a form of an execution<00:05:13.320> chain<00:05:13.560> they<00:05:13.860> are<00:05:13.979> their<00:05:14.100> own 00:05:14.150 --> 00:05:14.160 align:start position:0% execution chain they are their own 00:05:14.160 --> 00:05:15.950 align:start position:0% execution chain they are their own blockchains<00:05:14.759> basically 00:05:15.950 --> 00:05:15.960 align:start position:0% blockchains basically 00:05:15.960 --> 00:05:17.450 align:start position:0% blockchains basically um<00:05:16.020> the<00:05:16.259> way<00:05:16.380> they<00:05:16.560> work<00:05:16.740> is<00:05:16.860> that<00:05:17.040> they<00:05:17.160> apply 00:05:17.450 --> 00:05:17.460 align:start position:0% um the way they work is that they apply 00:05:17.460 --> 00:05:19.670 align:start position:0% um the way they work is that they apply the<00:05:17.639> changes<00:05:18.000> optimistically 00:05:19.670 --> 00:05:19.680 align:start position:0% the changes optimistically 00:05:19.680 --> 00:05:21.770 align:start position:0% the changes optimistically um<00:05:19.740> and<00:05:20.100> anyone<00:05:20.400> can<00:05:20.580> submit<00:05:20.940> a<00:05:21.060> fraud<00:05:21.360> proof 00:05:21.770 --> 00:05:21.780 align:start position:0% um and anyone can submit a fraud proof 00:05:21.780 --> 00:05:23.990 align:start position:0% um and anyone can submit a fraud proof uh<00:05:22.380> so<00:05:22.500> so<00:05:22.800> the<00:05:23.100> only<00:05:23.220> basically<00:05:23.580> the<00:05:23.820> only 00:05:23.990 --> 00:05:24.000 align:start position:0% uh so so the only basically the only 00:05:24.000 --> 00:05:25.550 align:start position:0% uh so so the only basically the only guarantee<00:05:24.300> you<00:05:24.419> need<00:05:24.600> is<00:05:24.720> that<00:05:24.900> there's 00:05:25.550 --> 00:05:25.560 align:start position:0% guarantee you need is that there's 00:05:25.560 --> 00:05:27.770 align:start position:0% guarantee you need is that there's someone<00:05:25.860> in<00:05:26.220> the<00:05:26.340> system<00:05:26.520> that<00:05:27.000> notices<00:05:27.479> if 00:05:27.770 --> 00:05:27.780 align:start position:0% someone in the system that notices if 00:05:27.780 --> 00:05:29.810 align:start position:0% someone in the system that notices if something<00:05:27.960> goes<00:05:28.560> wrong<00:05:28.680> but<00:05:28.979> one<00:05:29.520> of<00:05:29.639> and 00:05:29.810 --> 00:05:29.820 align:start position:0% something goes wrong but one of and 00:05:29.820 --> 00:05:32.330 align:start position:0% something goes wrong but one of and honesty<00:05:30.300> assumption<00:05:30.600> is<00:05:30.780> a<00:05:31.020> way<00:05:31.199> way<00:05:31.380> way<00:05:31.440> less 00:05:32.330 --> 00:05:32.340 align:start position:0% honesty assumption is a way way way less 00:05:32.340 --> 00:05:34.070 align:start position:0% honesty assumption is a way way way less severe<00:05:32.759> restriction<00:05:33.060> than<00:05:33.360> a<00:05:33.600> majority 00:05:34.070 --> 00:05:34.080 align:start position:0% severe restriction than a majority 00:05:34.080 --> 00:05:35.749 align:start position:0% severe restriction than a majority honesty<00:05:34.560> assumption 00:05:35.749 --> 00:05:35.759 align:start position:0% honesty assumption 00:05:35.759 --> 00:05:37.070 align:start position:0% honesty assumption um<00:05:35.820> and<00:05:36.000> then<00:05:36.060> these<00:05:36.300> photos<00:05:36.479> they<00:05:36.900> are 00:05:37.070 --> 00:05:37.080 align:start position:0% um and then these photos they are 00:05:37.080 --> 00:05:38.510 align:start position:0% um and then these photos they are automatically<00:05:37.500> resolved<00:05:37.979> on<00:05:38.100> some<00:05:38.280> sort<00:05:38.400> of 00:05:38.510 --> 00:05:38.520 align:start position:0% automatically resolved on some sort of 00:05:38.520 --> 00:05:40.430 align:start position:0% automatically resolved on some sort of settlement<00:05:38.820> platform 00:05:40.430 --> 00:05:40.440 align:start position:0% settlement platform 00:05:40.440 --> 00:05:42.469 align:start position:0% settlement platform um<00:05:40.500> yeah<00:05:41.280> that<00:05:41.580> you<00:05:41.940> need<00:05:42.060> and<00:05:42.180> then<00:05:42.300> the 00:05:42.469 --> 00:05:42.479 align:start position:0% um yeah that you need and then the 00:05:42.479 --> 00:05:44.270 align:start position:0% um yeah that you need and then the alternative<00:05:42.900> as<00:05:43.080> I<00:05:43.199> was<00:05:43.259> saying<00:05:43.380> ZK<00:05:43.680> Roll-Ups 00:05:44.270 --> 00:05:44.280 align:start position:0% alternative as I was saying ZK Roll-Ups 00:05:44.280 --> 00:05:46.370 align:start position:0% alternative as I was saying ZK Roll-Ups they<00:05:44.759> are<00:05:44.940> just<00:05:45.060> cryptographic<00:05:45.900> magic<00:05:46.080> right 00:05:46.370 --> 00:05:46.380 align:start position:0% they are just cryptographic magic right 00:05:46.380 --> 00:05:48.350 align:start position:0% they are just cryptographic magic right so<00:05:46.560> in<00:05:46.919> that<00:05:47.039> case<00:05:47.160> you<00:05:47.280> don't<00:05:47.460> have<00:05:47.580> to<00:05:47.759> to<00:05:47.940> do 00:05:48.350 --> 00:05:48.360 align:start position:0% so in that case you don't have to to do 00:05:48.360 --> 00:05:50.510 align:start position:0% so in that case you don't have to to do this<00:05:48.479> retractive<00:05:49.259> fixing<00:05:49.979> of<00:05:50.160> problems 00:05:50.510 --> 00:05:50.520 align:start position:0% this retractive fixing of problems 00:05:50.520 --> 00:05:53.629 align:start position:0% this retractive fixing of problems instead<00:05:51.120> you<00:05:51.300> just<00:05:51.720> have<00:05:52.320> any<00:05:52.860> state<00:05:53.280> update 00:05:53.629 --> 00:05:53.639 align:start position:0% instead you just have any state update 00:05:53.639 --> 00:05:55.969 align:start position:0% instead you just have any state update come<00:05:53.820> with<00:05:54.000> a<00:05:54.180> cryptographic<00:05:54.840> proof<00:05:55.199> that<00:05:55.860> no 00:05:55.969 --> 00:05:55.979 align:start position:0% come with a cryptographic proof that no 00:05:55.979 --> 00:05:57.710 align:start position:0% come with a cryptographic proof that no one<00:05:56.160> did<00:05:56.340> anything<00:05:56.460> wrong<00:05:56.820> and<00:05:57.360> again<00:05:57.479> you 00:05:57.710 --> 00:05:57.720 align:start position:0% one did anything wrong and again you 00:05:57.720 --> 00:05:59.990 align:start position:0% one did anything wrong and again you need<00:05:57.900> some<00:05:58.020> sort<00:05:58.199> of<00:05:58.259> settlement<00:05:58.560> platform 00:05:59.990 --> 00:06:00.000 align:start position:0% need some sort of settlement platform 00:06:00.000 --> 00:06:01.610 align:start position:0% need some sort of settlement platform um<00:06:00.060> where<00:06:00.479> you<00:06:00.600> can<00:06:00.720> where<00:06:00.900> you<00:06:01.080> can<00:06:01.199> resolve 00:06:01.610 --> 00:06:01.620 align:start position:0% um where you can where you can resolve 00:06:01.620 --> 00:06:02.450 align:start position:0% um where you can where you can resolve this 00:06:02.450 --> 00:06:02.460 align:start position:0% this 00:06:02.460 --> 00:06:06.890 align:start position:0% this um<00:06:02.580> one<00:06:03.060> more<00:06:03.240> a<00:06:03.539> little<00:06:03.720> caveat<00:06:04.139> here<00:06:04.440> is<00:06:05.039> that 00:06:06.890 --> 00:06:06.900 align:start position:0% um one more a little caveat here is that 00:06:06.900 --> 00:06:08.330 align:start position:0% um one more a little caveat here is that um<00:06:06.960> basically<00:06:07.320> with<00:06:07.560> Roll-Ups<00:06:08.039> we're<00:06:08.160> moving 00:06:08.330 --> 00:06:08.340 align:start position:0% um basically with Roll-Ups we're moving 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position:0% ensure Integrity right like I could basically<00:06:14.460> only<00:06:14.759> follow<00:06:15.300> the<00:06:15.539> settlement 00:06:15.950 --> 00:06:15.960 align:start position:0% basically only follow the settlement 00:06:15.960 --> 00:06:17.029 align:start position:0% basically only follow the settlement chain 00:06:17.029 --> 00:06:17.039 align:start position:0% chain 00:06:17.039 --> 00:06:18.409 align:start position:0% chain um<00:06:17.100> and<00:06:17.340> still<00:06:17.520> basically<00:06:17.880> have<00:06:18.060> all<00:06:18.240> the 00:06:18.409 --> 00:06:18.419 align:start position:0% um and still basically have all the 00:06:18.419 --> 00:06:20.330 align:start position:0% um and still basically have all the guarantees<00:06:18.780> about<00:06:18.960> the<00:06:19.139> roll<00:06:19.259> up 00:06:20.330 --> 00:06:20.340 align:start position:0% guarantees about the roll up 00:06:20.340 --> 00:06:23.450 align:start position:0% guarantees about the roll up um<00:06:20.400> but<00:06:21.180> one<00:06:21.900> additional<00:06:22.319> uh<00:06:22.800> thing<00:06:23.039> thing<00:06:23.280> to 00:06:23.450 --> 00:06:23.460 align:start position:0% um but one additional uh thing thing to 00:06:23.460 --> 00:06:25.189 align:start position:0% um but one additional uh thing thing to to<00:06:23.639> ensure<00:06:23.940> is<00:06:24.060> that<00:06:24.240> we<00:06:24.360> have<00:06:24.539> to<00:06:24.720> also<00:06:25.080> pay 00:06:25.189 --> 00:06:25.199 align:start position:0% to ensure is that we have to also pay 00:06:25.199 --> 00:06:27.050 align:start position:0% to ensure is that we have to also pay attention<00:06:25.500> to<00:06:25.740> data<00:06:26.100> if<00:06:26.580> you<00:06:26.639> run<00:06:26.819> your<00:06:26.940> own 00:06:27.050 --> 00:06:27.060 align:start position:0% attention to data if you run your own 00:06:27.060 --> 00:06:28.969 align:start position:0% attention to data if you run your own full<00:06:27.240> node<00:06:27.479> for<00:06:27.660> a<00:06:27.840> chain<00:06:27.960> data<00:06:28.560> is<00:06:28.620> implied 00:06:28.969 --> 00:06:28.979 align:start position:0% full node for a chain data is implied 00:06:28.979 --> 00:06:30.230 align:start position:0% full node for a chain data is implied right<00:06:29.220> because<00:06:29.400> you<00:06:29.580> actually<00:06:29.699> download<00:06:29.940> all 00:06:30.230 --> 00:06:30.240 align:start position:0% right because you actually download all 00:06:30.240 --> 00:06:31.610 align:start position:0% right because you actually download all the<00:06:30.360> data<00:06:30.539> and<00:06:30.600> execute<00:06:30.960> it<00:06:31.139> locally<00:06:31.319> but<00:06:31.440> with 00:06:31.610 --> 00:06:31.620 align:start position:0% the data and execute it locally but with 00:06:31.620 --> 00:06:33.469 align:start position:0% the data and execute it locally but with follow-ups<00:06:32.039> you<00:06:32.100> don't<00:06:32.220> do<00:06:32.340> that<00:06:32.460> anymore<00:06:32.639> so 00:06:33.469 --> 00:06:33.479 align:start position:0% follow-ups you don't do that anymore so 00:06:33.479 --> 00:06:35.930 align:start position:0% follow-ups you don't do that anymore so now<00:06:33.660> we<00:06:33.900> basically<00:06:34.139> need<00:06:34.520> explicit<00:06:35.520> data 00:06:35.930 --> 00:06:35.940 align:start position:0% now we basically need explicit data 00:06:35.940 --> 00:06:37.850 align:start position:0% now we basically need explicit data availability<00:06:36.300> mechanisms 00:06:37.850 --> 00:06:37.860 align:start position:0% availability mechanisms 00:06:37.860 --> 00:06:40.370 align:start position:0% availability mechanisms um<00:06:37.979> and<00:06:38.699> and<00:06:38.940> that's<00:06:39.300> what<00:06:39.479> I<00:06:39.720> put<00:06:40.020> this<00:06:40.199> little 00:06:40.370 --> 00:06:40.380 align:start position:0% um and and that's what I put this little 00:06:40.380 --> 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system<00:06:48.060> and<00:06:48.360> you<00:06:48.419> have<00:06:48.600> an 00:06:48.650 --> 00:06:48.660 align:start position:0% settlement system and you have an 00:06:48.660 --> 00:06:50.570 align:start position:0% settlement system and you have an explicit<00:06:49.080> data<00:06:49.319> availability<00:06:49.680> system 00:06:50.570 --> 00:06:50.580 align:start position:0% explicit data availability system 00:06:50.580 --> 00:06:52.969 align:start position:0% explicit data availability system now<00:06:51.240> basically<00:06:51.600> you<00:06:51.780> you<00:06:51.900> can<00:06:52.380> break<00:06:52.500> out<00:06:52.800> of 00:06:52.969 --> 00:06:52.979 align:start position:0% now basically you you can break out of 00:06:52.979 --> 00:06:56.029 align:start position:0% now basically you you can break out of this<00:06:53.220> of<00:06:53.639> this<00:06:54.000> kind<00:06:54.180> of<00:06:54.300> graph<00:06:54.840> of<00:06:55.080> of 00:06:56.029 --> 00:06:56.039 align:start position:0% this of this kind of graph of of 00:06:56.039 --> 00:06:57.710 align:start position:0% this of this kind of graph of of um<00:06:56.160> of<00:06:56.639> this 00:06:57.710 --> 00:06:57.720 align:start position:0% um of this 00:06:57.720 --> 00:07:00.890 align:start position:0% um of this um<00:06:57.840> full<00:06:58.560> node<00:06:58.919> uh<00:06:59.400> versus<00:06:59.639> throughput 00:07:00.890 --> 00:07:00.900 align:start position:0% um full node uh versus throughput 00:07:00.900 --> 00:07:04.309 align:start position:0% um full node uh versus throughput um<00:07:01.319> uh<00:07:02.100> basically<00:07:02.400> trade-off<00:07:02.880> and<00:07:03.600> uh<00:07:03.960> and<00:07:04.199> how 00:07:04.309 --> 00:07:04.319 align:start position:0% um uh basically trade-off and uh and how 00:07:04.319 --> 00:07:05.930 align:start position:0% um uh basically trade-off and uh and how can<00:07:04.440> you<00:07:04.560> actually<00:07:04.680> use<00:07:04.979> this<00:07:05.220> now<00:07:05.400> to<00:07:05.639> kind<00:07:05.819> of 00:07:05.930 --> 00:07:05.940 align:start position:0% can you actually use this now to kind of 00:07:05.940 --> 00:07:08.510 align:start position:0% can you actually use this now to kind of to<00:07:06.120> build<00:07:06.660> full<00:07:07.080> blockchain<00:07:07.620> systems<00:07:08.460> um 00:07:08.510 --> 00:07:08.520 align:start position:0% to build full blockchain systems um 00:07:08.520 --> 00:07:09.590 align:start position:0% to build full blockchain systems um that's<00:07:08.639> kind<00:07:08.819> of<00:07:08.940> what<00:07:09.000> the<00:07:09.180> what<00:07:09.360> the<00:07:09.479> second 00:07:09.590 --> 00:07:09.600 align:start position:0% that's kind of what the what the second 00:07:09.600 --> 00:07:11.029 align:start position:0% that's kind of what the what the second part<00:07:09.780> is<00:07:09.900> about<00:07:10.080> like<00:07:10.319> how<00:07:10.560> how<00:07:10.740> do<00:07:10.919> you 00:07:11.029 --> 00:07:11.039 align:start position:0% part is about like how how do you 00:07:11.039 --> 00:07:13.010 align:start position:0% part is about like how how do you actually<00:07:11.340> turn<00:07:11.639> this<00:07:11.819> into<00:07:12.060> into<00:07:12.720> something 00:07:13.010 --> 00:07:13.020 align:start position:0% actually turn this into into something 00:07:13.020 --> 00:07:14.629 align:start position:0% actually turn this into into something useful 00:07:14.629 --> 00:07:14.639 align:start position:0% useful 00:07:14.639 --> 00:07:16.550 align:start position:0% useful um<00:07:14.759> and<00:07:15.180> this<00:07:15.600> is<00:07:15.720> going<00:07:15.900> to<00:07:16.020> be<00:07:16.080> very<00:07:16.259> picture 00:07:16.550 --> 00:07:16.560 align:start position:0% um and this is going to be very picture 00:07:16.560 --> 00:07:18.890 align:start position:0% um and this is going to be very picture heavy<00:07:17.100> because<00:07:17.280> I<00:07:17.520> kind<00:07:17.639> of<00:07:17.699> I<00:07:17.940> don't<00:07:18.060> know<00:07:18.180> for 00:07:18.890 --> 00:07:18.900 align:start position:0% heavy because I kind of I don't know for 00:07:18.900 --> 00:07:20.930 align:start position:0% heavy because I kind of I don't know for me<00:07:19.020> it's<00:07:19.139> mostly<00:07:19.440> about<00:07:19.680> giving<00:07:20.580> good 00:07:20.930 --> 00:07:20.940 align:start position:0% me it's mostly about giving good 00:07:20.940 --> 00:07:22.309 align:start position:0% me it's mostly about giving good intuitions<00:07:21.599> here 00:07:22.309 --> 00:07:22.319 align:start position:0% intuitions here 00:07:22.319 --> 00:07:23.990 align:start position:0% intuitions here um<00:07:22.380> for<00:07:22.560> like<00:07:22.740> I<00:07:23.039> don't<00:07:23.160> know<00:07:23.220> my<00:07:23.639> mental 00:07:23.990 --> 00:07:24.000 align:start position:0% um for like I don't know my mental 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chain<00:07:29.460> I<00:07:29.880> drew<00:07:30.180> a<00:07:30.240> little<00:07:30.300> box<00:07:30.539> around<00:07:30.780> it<00:07:30.960> it's 00:07:31.189 --> 00:07:31.199 align:start position:0% chain I drew a little box around it it's 00:07:31.199 --> 00:07:32.990 align:start position:0% chain I drew a little box around it it's basically<00:07:31.560> in<00:07:31.800> its<00:07:31.979> own<00:07:32.039> box<00:07:32.220> there<00:07:32.460> it<00:07:32.819> has 00:07:32.990 --> 00:07:33.000 align:start position:0% basically in its own box there it has 00:07:33.000 --> 00:07:34.430 align:start position:0% basically in its own box there it has its<00:07:33.240> own<00:07:33.300> security 00:07:34.430 --> 00:07:34.440 align:start position:0% its own security 00:07:34.440 --> 00:07:36.350 align:start position:0% its own security um<00:07:34.500> and<00:07:35.160> that's<00:07:35.280> that's<00:07:35.520> the<00:07:35.819> world<00:07:35.940> as<00:07:36.180> it 00:07:36.350 --> 00:07:36.360 align:start position:0% um and that's that's the world as it 00:07:36.360 --> 00:07:37.850 align:start position:0% um and that's that's the world as it used<00:07:36.479> to<00:07:36.599> be<00:07:36.660> the<00:07:36.840> blockchain<00:07:37.199> world<00:07:37.380> we<00:07:37.620> had<00:07:37.740> a 00:07:37.850 --> 00:07:37.860 align:start position:0% used to be the blockchain world we had a 00:07:37.860 --> 00:07:39.589 align:start position:0% used to be the blockchain world we had a lot<00:07:38.039> of<00:07:38.160> these<00:07:38.340> boxes<00:07:38.699> like<00:07:39.060> a<00:07:39.240> couple<00:07:39.419> years 00:07:39.589 --> 00:07:39.599 align:start position:0% lot of these boxes like a couple years 00:07:39.599 --> 00:07:41.809 align:start position:0% lot of these boxes like a couple years ago<00:07:39.900> right<00:07:40.139> and<00:07:40.800> now<00:07:41.160> we're<00:07:41.280> adding<00:07:41.639> these 00:07:41.809 --> 00:07:41.819 align:start position:0% ago right and now we're adding these 00:07:41.819 --> 00:07:44.510 align:start position:0% ago right and now we're adding these exciting<00:07:42.360> new<00:07:42.539> tools<00:07:43.380> um<00:07:43.440> to<00:07:43.680> the<00:07:44.039> picture<00:07:44.160> we 00:07:44.510 --> 00:07:44.520 align:start position:0% exciting new tools um to the picture we 00:07:44.520 --> 00:07:45.890 align:start position:0% exciting new tools um to the picture we are<00:07:44.639> we're<00:07:44.940> adding<00:07:45.240> settlement<00:07:45.539> and<00:07:45.780> we're 00:07:45.890 --> 00:07:45.900 align:start position:0% are we're adding settlement and we're 00:07:45.900 --> 00:07:47.510 align:start position:0% are we're adding settlement and we're adding<00:07:46.199> data<00:07:46.500> availability 00:07:47.510 --> 00:07:47.520 align:start position:0% adding data availability 00:07:47.520 --> 00:07:49.189 align:start position:0% adding data availability um<00:07:47.580> and<00:07:47.759> how<00:07:47.880> do<00:07:48.000> they<00:07:48.419> basically<00:07:48.720> change<00:07:48.960> the 00:07:49.189 --> 00:07:49.199 align:start position:0% um and how do they basically change the 00:07:49.199 --> 00:07:50.809 align:start position:0% um and how do they basically change the picture<00:07:49.319> well<00:07:49.740> first<00:07:50.099> we<00:07:50.340> kind<00:07:50.520> of<00:07:50.580> have<00:07:50.639> to 00:07:50.809 --> 00:07:50.819 align:start position:0% picture well first we kind of have to 00:07:50.819 --> 00:07:52.490 align:start position:0% picture well first we kind of have to bundle<00:07:51.240> them<00:07:51.419> in<00:07:51.599> some<00:07:51.720> like<00:07:51.960> we<00:07:52.139> have<00:07:52.259> to<00:07:52.380> kind 00:07:52.490 --> 00:07:52.500 align:start position:0% bundle them in some like we have to kind 00:07:52.500 --> 00:07:54.350 align:start position:0% bundle them in some like we have to kind of<00:07:52.620> put<00:07:52.740> them<00:07:52.919> into<00:07:53.099> some<00:07:53.340> useful<00:07:53.639> form<00:07:53.819> uh<00:07:54.120> the 00:07:54.350 --> 00:07:54.360 align:start position:0% of put them into some useful form uh the 00:07:54.360 --> 00:07:55.430 align:start position:0% of put them into some useful form uh the way<00:07:54.419> we<00:07:54.599> like<00:07:54.780> to<00:07:54.900> think<00:07:55.020> about<00:07:55.139> it<00:07:55.319> is 00:07:55.430 --> 00:07:55.440 align:start position:0% way we like to think about it is 00:07:55.440 --> 00:07:56.570 align:start position:0% way we like to think about it is bundling<00:07:55.740> them<00:07:55.919> into<00:07:56.039> what<00:07:56.280> we<00:07:56.340> call<00:07:56.460> a 00:07:56.570 --> 00:07:56.580 align:start position:0% bundling them into what we call a 00:07:56.580 --> 00:07:58.189 align:start position:0% bundling them into what we call a settlement<00:07:56.880> chain<00:07:57.180> which<00:07:57.660> is<00:07:57.780> its<00:07:58.139> own 00:07:58.189 --> 00:07:58.199 align:start position:0% settlement chain which is its own 00:07:58.199 --> 00:07:59.870 align:start position:0% settlement chain which is its own blockchain<00:07:58.740> there<00:07:58.979> you<00:07:59.160> can<00:07:59.220> see<00:07:59.340> it<00:07:59.460> has<00:07:59.639> its 00:07:59.870 --> 00:07:59.880 align:start position:0% blockchain there you can see it has its 00:07:59.880 --> 00:08:02.029 align:start position:0% blockchain there you can see it has its own<00:07:59.940> security<00:08:00.120> and<00:08:00.900> it's<00:08:01.080> not<00:08:01.259> the<00:08:01.740> only<00:08:01.860> way 00:08:02.029 --> 00:08:02.039 align:start position:0% own security and it's not the only way 00:08:02.039 --> 00:08:04.070 align:start position:0% own security and it's not the only way to<00:08:02.160> do<00:08:02.340> to<00:08:02.819> do<00:08:02.940> this<00:08:03.060> like<00:08:03.300> if<00:08:03.479> you<00:08:03.599> for<00:08:03.840> example 00:08:04.070 --> 00:08:04.080 align:start position:0% to do to do this like if you for example 00:08:04.080 --> 00:08:06.409 align:start position:0% to do to do this like if you for example know<00:08:04.259> Celestia<00:08:04.800> which<00:08:05.099> is<00:08:05.639> a<00:08:06.000> really<00:08:06.120> really 00:08:06.409 --> 00:08:06.419 align:start position:0% know Celestia which is a really really 00:08:06.419 --> 00:08:08.510 align:start position:0% know Celestia which is a really really interesting<00:08:07.259> other<00:08:07.919> um<00:08:07.919> kind<00:08:08.160> of<00:08:08.280> project 00:08:08.510 --> 00:08:08.520 align:start position:0% interesting other um kind of project 00:08:08.520 --> 00:08:11.749 align:start position:0% interesting other um kind of project that<00:08:09.060> that<00:08:09.419> basically<00:08:10.199> works<00:08:11.099> with<00:08:11.220> similar 00:08:11.749 --> 00:08:11.759 align:start position:0% that that basically works with similar 00:08:11.759 --> 00:08:15.469 align:start position:0% that that basically works with similar kind<00:08:12.000> of<00:08:12.120> models<00:08:12.840> and<00:08:13.680> they<00:08:14.520> keep<00:08:14.819> data<00:08:15.360> and 00:08:15.469 --> 00:08:15.479 align:start position:0% kind of models and they keep data and 00:08:15.479 --> 00:08:16.790 align:start position:0% kind of models and they keep data and settlement<00:08:15.780> separate 00:08:16.790 --> 00:08:16.800 align:start position:0% settlement separate 00:08:16.800 --> 00:08:19.010 align:start position:0% settlement separate um<00:08:16.860> but<00:08:17.160> for<00:08:17.340> us<00:08:17.520> the<00:08:18.060> the<00:08:18.120> way<00:08:18.479> ethereum<00:08:18.840> kind 00:08:19.010 --> 00:08:19.020 align:start position:0% um but for us the the way ethereum kind 00:08:19.020 --> 00:08:20.150 align:start position:0% um but for us the the way ethereum kind of<00:08:19.080> likes<00:08:19.319> to<00:08:19.379> approach<00:08:19.560> these<00:08:19.740> things<00:08:19.800> is<00:08:19.979> by 00:08:20.150 --> 00:08:20.160 align:start position:0% of likes to approach these things is by 00:08:20.160 --> 00:08:22.129 align:start position:0% of likes to approach these things is by combining<00:08:20.879> them<00:08:21.000> into<00:08:21.180> into<00:08:21.660> a<00:08:21.900> settlement 00:08:22.129 --> 00:08:22.139 align:start position:0% combining them into into a settlement 00:08:22.139 --> 00:08:23.869 align:start position:0% combining them into into a settlement chain<00:08:22.379> so<00:08:22.620> now<00:08:22.740> so<00:08:22.979> now<00:08:23.160> we<00:08:23.280> have<00:08:23.400> these<00:08:23.639> these 00:08:23.869 --> 00:08:23.879 align:start position:0% chain so now so now we have these these 00:08:23.879 --> 00:08:25.309 align:start position:0% chain so now so now we have these these two<00:08:24.000> separate<00:08:24.240> chains<00:08:24.599> how<00:08:24.720> do<00:08:24.840> we<00:08:24.960> basically 00:08:25.309 --> 00:08:25.319 align:start position:0% two separate chains how do we basically 00:08:25.319 --> 00:08:28.010 align:start position:0% two separate chains how do we basically now<00:08:25.919> actually<00:08:26.580> make<00:08:26.879> use<00:08:27.060> of<00:08:27.240> them<00:08:27.419> well<00:08:27.720> the 00:08:28.010 --> 00:08:28.020 align:start position:0% now actually make use of them well the 00:08:28.020 --> 00:08:30.589 align:start position:0% now actually make use of them well the way<00:08:28.379> to<00:08:28.500> do<00:08:28.620> this<00:08:28.800> is<00:08:29.099> by<00:08:29.759> and<00:08:30.060> that's<00:08:30.240> what<00:08:30.419> the 00:08:30.589 --> 00:08:30.599 align:start position:0% way to do this is by and that's what the 00:08:30.599 --> 00:08:32.329 align:start position:0% way to do this is by and that's what the arrows<00:08:30.900> are<00:08:31.020> for<00:08:31.139> by<00:08:31.379> basically<00:08:31.740> having 00:08:32.329 --> 00:08:32.339 align:start position:0% arrows are for by basically having 00:08:32.339 --> 00:08:34.370 align:start position:0% arrows are for by basically having turning<00:08:32.940> the<00:08:33.060> execution<00:08:33.419> chain<00:08:33.659> into<00:08:33.959> a<00:08:34.200> roll 00:08:34.370 --> 00:08:34.380 align:start position:0% turning the execution chain into a roll 00:08:34.380 --> 00:08:35.269 align:start position:0% turning the execution chain into a roll up 00:08:35.269 --> 00:08:35.279 align:start position:0% up 00:08:35.279 --> 00:08:37.430 align:start position:0% up um<00:08:35.339> it<00:08:35.700> kind<00:08:35.880> of<00:08:36.000> functions<00:08:36.599> as<00:08:36.779> it<00:08:37.140> did<00:08:37.260> before 00:08:37.430 --> 00:08:37.440 align:start position:0% um it kind of functions as it did before 00:08:37.440 --> 00:08:39.230 align:start position:0% um it kind of functions as it did before but<00:08:37.800> now<00:08:37.979> it<00:08:38.219> uses<00:08:38.459> this<00:08:38.640> the<00:08:38.880> settlement 00:08:39.230 --> 00:08:39.240 align:start position:0% but now it uses this the settlement 00:08:39.240 --> 00:08:41.870 align:start position:0% but now it uses this the settlement chain<00:08:39.479> for<00:08:40.260> for<00:08:40.500> for<00:08:40.560> data<00:08:41.159> availability<00:08:41.459> and 00:08:41.870 --> 00:08:41.880 align:start position:0% chain for for for data availability and 00:08:41.880 --> 00:08:44.089 align:start position:0% chain for for for data availability and for<00:08:42.599> um<00:08:42.659> settlements<00:08:43.200> so<00:08:43.380> you<00:08:43.500> need<00:08:43.800> some<00:08:43.979> sort 00:08:44.089 --> 00:08:44.099 align:start position:0% for um settlements so you need some sort 00:08:44.099 --> 00:08:45.590 align:start position:0% for um settlements so you need some sort of<00:08:44.159> fraud-proving<00:08:44.760> mechanism<00:08:45.000> or<00:08:45.240> it<00:08:45.420> needs 00:08:45.590 --> 00:08:45.600 align:start position:0% of fraud-proving mechanism or it needs 00:08:45.600 --> 00:08:47.630 align:start position:0% of fraud-proving mechanism or it needs some<00:08:45.660> validity<00:08:46.080> proofs<00:08:46.380> attached<00:08:46.800> but<00:08:47.519> other 00:08:47.630 --> 00:08:47.640 align:start position:0% some validity proofs attached but other 00:08:47.640 --> 00:08:49.370 align:start position:0% some validity proofs attached but other than<00:08:47.880> that<00:08:48.060> it<00:08:48.360> still<00:08:48.600> feels<00:08:48.899> like<00:08:49.019> a<00:08:49.260> normal 00:08:49.370 --> 00:08:49.380 align:start position:0% than that it still feels like a normal 00:08:49.380 --> 00:08:51.230 align:start position:0% than that it still feels like a normal blockchain<00:08:50.040> basically 00:08:51.230 --> 00:08:51.240 align:start position:0% blockchain basically 00:08:51.240 --> 00:08:52.610 align:start position:0% blockchain basically um<00:08:51.300> the<00:08:51.480> simplest<00:08:51.779> way<00:08:51.899> to<00:08:52.080> do<00:08:52.140> this<00:08:52.260> is<00:08:52.500> what 00:08:52.610 --> 00:08:52.620 align:start position:0% um the simplest way to do this is what 00:08:52.620 --> 00:08:54.650 align:start position:0% um the simplest way to do this is what what<00:08:52.800> we<00:08:52.980> call<00:08:53.160> like<00:08:53.459> an<00:08:53.700> in<00:08:53.940> try<00:08:54.180> and<00:08:54.300> roll<00:08:54.480> up 00:08:54.650 --> 00:08:54.660 align:start position:0% what we call like an in try and roll up 00:08:54.660 --> 00:08:56.090 align:start position:0% what we call like an in try and roll up so<00:08:54.839> in<00:08:54.959> that<00:08:55.080> case<00:08:55.200> you'd<00:08:55.560> have<00:08:55.680> like<00:08:55.860> one 00:08:56.090 --> 00:08:56.100 align:start position:0% so in that case you'd have like one 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00:09:04.550 align:start position:0% and really relationship and in a very simple<00:09:03.060> way<00:09:03.360> you<00:09:03.600> could<00:09:03.720> imagine<00:09:03.959> basically 00:09:04.550 --> 00:09:04.560 align:start position:0% simple way you could imagine basically 00:09:04.560 --> 00:09:06.530 align:start position:0% simple way you could imagine basically this<00:09:04.920> process<00:09:05.279> playing<00:09:05.580> out<00:09:05.820> in<00:09:06.300> the 00:09:06.530 --> 00:09:06.540 align:start position:0% this process playing out in the 00:09:06.540 --> 00:09:08.449 align:start position:0% this process playing out in the blockchain<00:09:06.839> world<00:09:07.080> is<00:09:07.740> um<00:09:07.740> and<00:09:07.860> I<00:09:08.100> guess<00:09:08.339> that 00:09:08.449 --> 00:09:08.459 align:start position:0% blockchain world is um and I guess that 00:09:08.459 --> 00:09:09.590 align:start position:0% blockchain world is um and I guess that fits<00:09:08.760> well<00:09:08.880> into<00:09:09.060> this<00:09:09.240> kind<00:09:09.420> of<00:09:09.480> the 00:09:09.590 --> 00:09:09.600 align:start position:0% fits well into this kind of the 00:09:09.600 --> 00:09:11.750 align:start position:0% fits well into this kind of the multi-chain<00:09:10.140> vision<00:09:10.440> would<00:09:11.040> be<00:09:11.220> where<00:09:11.459> every 00:09:11.750 --> 00:09:11.760 align:start position:0% multi-chain vision would be where every 00:09:11.760 --> 00:09:13.550 align:start position:0% multi-chain vision would be where every every<00:09:12.240> blockchain<00:09:12.720> that<00:09:12.959> wants<00:09:13.200> to<00:09:13.320> basically 00:09:13.550 --> 00:09:13.560 align:start position:0% every blockchain that wants to basically 00:09:13.560 --> 00:09:16.610 align:start position:0% every blockchain that wants to basically go<00:09:13.740> hyper<00:09:14.220> scaling<00:09:14.700> and<00:09:15.540> just<00:09:16.019> adds<00:09:16.380> their<00:09:16.500> own 00:09:16.610 --> 00:09:16.620 align:start position:0% go hyper scaling and just adds their own 00:09:16.620 --> 00:09:18.530 align:start position:0% go hyper scaling and just adds their own little<00:09:16.860> settlement<00:09:17.339> chain 00:09:18.530 --> 00:09:18.540 align:start position:0% little settlement chain 00:09:18.540 --> 00:09:20.210 align:start position:0% little settlement chain um<00:09:18.660> underneath<00:09:19.440> them 00:09:20.210 --> 00:09:20.220 align:start position:0% um underneath them 00:09:20.220 --> 00:09:21.710 align:start position:0% um underneath them um<00:09:20.339> and<00:09:20.580> that<00:09:20.640> would<00:09:21.000> basically<00:09:21.240> bring<00:09:21.420> you<00:09:21.540> to 00:09:21.710 --> 00:09:21.720 align:start position:0% um and that would basically bring you to 00:09:21.720 --> 00:09:23.269 align:start position:0% um and that would basically bring you to this<00:09:21.839> to<00:09:22.140> this<00:09:22.380> picture 00:09:23.269 --> 00:09:23.279 align:start position:0% this to this picture 00:09:23.279 --> 00:09:25.430 align:start position:0% this to this picture um<00:09:23.399> with<00:09:23.700> multiple<00:09:24.180> different<00:09:24.440> uh 00:09:25.430 --> 00:09:25.440 align:start position:0% um with multiple different uh 00:09:25.440 --> 00:09:27.050 align:start position:0% um with multiple different uh blockchains 00:09:27.050 --> 00:09:27.060 align:start position:0% blockchains 00:09:27.060 --> 00:09:28.430 align:start position:0% blockchains um<00:09:27.120> they<00:09:27.420> are<00:09:27.600> that<00:09:27.839> would<00:09:27.959> all<00:09:28.140> know<00:09:28.260> have 00:09:28.430 --> 00:09:28.440 align:start position:0% um they are that would all know have 00:09:28.440 --> 00:09:29.870 align:start position:0% um they are that would all know have their<00:09:28.560> own<00:09:28.680> settlement<00:09:28.920> chain<00:09:29.160> the<00:09:29.760> the 00:09:29.870 --> 00:09:29.880 align:start position:0% their own settlement chain the the 00:09:29.880 --> 00:09:31.610 align:start position:0% their own settlement chain the the downside<00:09:30.360> there<00:09:30.600> is 00:09:31.610 --> 00:09:31.620 align:start position:0% downside there is 00:09:31.620 --> 00:09:34.790 align:start position:0% downside there is um<00:09:31.640> that<00:09:32.640> for<00:09:33.420> one<00:09:33.600> you<00:09:34.140> have<00:09:34.260> fractured 00:09:34.790 --> 00:09:34.800 align:start position:0% um that for one you have fractured 00:09:34.800 --> 00:09:36.769 align:start position:0% um that for one you have fractured security<00:09:34.980> right<00:09:35.339> each<00:09:35.760> each<00:09:36.120> settlement 00:09:36.769 --> 00:09:36.779 align:start position:0% security right each each settlement 00:09:36.779 --> 00:09:39.110 align:start position:0% security right each each settlement chain<00:09:37.019> has<00:09:37.320> its<00:09:37.620> own<00:09:37.680> valid<00:09:38.220> data<00:09:38.519> set<00:09:38.640> or<00:09:38.880> its 00:09:39.110 --> 00:09:39.120 align:start position:0% chain has its own valid data set or its 00:09:39.120 --> 00:09:40.970 align:start position:0% chain has its own valid data set or its own<00:09:39.180> miners<00:09:39.660> or<00:09:39.899> its<00:09:40.140> own<00:09:40.200> however<00:09:40.680> you<00:09:40.860> you 00:09:40.970 --> 00:09:40.980 align:start position:0% own miners or its own however you you 00:09:40.980 --> 00:09:44.030 align:start position:0% own miners or its own however you you get<00:09:41.220> your<00:09:41.339> security<00:09:41.519> as<00:09:41.940> your<00:09:42.120> as<00:09:42.540> your<00:09:42.899> chain 00:09:44.030 --> 00:09:44.040 align:start position:0% get your security as your as your chain 00:09:44.040 --> 00:09:46.910 align:start position:0% get your security as your as your chain um<00:09:44.160> and<00:09:44.820> it<00:09:45.180> basically<00:09:45.600> some<00:09:46.440> some<00:09:46.620> of<00:09:46.800> those 00:09:46.910 --> 00:09:46.920 align:start position:0% um and it basically some some of those 00:09:46.920 --> 00:09:48.230 align:start position:0% um and it basically some some of those will<00:09:47.100> be<00:09:47.279> higher<00:09:47.519> security<00:09:47.640> some<00:09:47.940> will<00:09:48.120> be 00:09:48.230 --> 00:09:48.240 align:start position:0% will be higher security some will be 00:09:48.240 --> 00:09:49.970 align:start position:0% will be higher security some will be lower<00:09:48.360> security<00:09:48.660> and<00:09:49.260> that<00:09:49.380> also<00:09:49.680> affects 00:09:49.970 --> 00:09:49.980 align:start position:0% lower security and that also affects 00:09:49.980 --> 00:09:52.550 align:start position:0% lower security and that also affects Bridges<00:09:50.399> uh<00:09:51.000> I'm<00:09:51.420> maybe<00:09:52.019> some<00:09:52.200> of<00:09:52.320> you<00:09:52.380> have 00:09:52.550 --> 00:09:52.560 align:start position:0% Bridges uh I'm maybe some of you have 00:09:52.560 --> 00:09:54.170 align:start position:0% Bridges uh I'm maybe some of you have seen<00:09:52.800> kind<00:09:52.980> of<00:09:53.100> metallics<00:09:53.519> right<00:09:53.760> up<00:09:53.880> a<00:09:54.060> while 00:09:54.170 --> 00:09:54.180 align:start position:0% seen kind of metallics right up a while 00:09:54.180 --> 00:09:55.730 align:start position:0% seen kind of metallics right up a while ago<00:09:54.420> about<00:09:54.600> how<00:09:54.959> basically<00:09:55.260> if<00:09:55.440> you<00:09:55.560> bridge 00:09:55.730 --> 00:09:55.740 align:start position:0% ago about how basically if you bridge 00:09:55.740 --> 00:09:57.110 align:start position:0% ago about how basically if you bridge multiple<00:09:56.100> chains<00:09:56.459> you<00:09:56.519> always<00:09:56.640> end<00:09:56.880> up<00:09:56.940> with 00:09:57.110 --> 00:09:57.120 align:start position:0% multiple chains you always end up with 00:09:57.120 --> 00:09:59.509 align:start position:0% multiple chains you always end up with the<00:09:57.839> the<00:09:58.019> weaker<00:09:58.440> secure<00:09:58.740> the<00:09:58.920> weakest 00:09:59.509 --> 00:09:59.519 align:start position:0% the the weaker secure the weakest 00:09:59.519 --> 00:10:02.090 align:start position:0% the the weaker secure the weakest security<00:10:00.300> of<00:10:00.720> all<00:10:00.839> of<00:10:00.959> them<00:10:01.260> right<00:10:01.740> if<00:10:01.980> you 00:10:02.090 --> 00:10:02.100 align:start position:0% security of all of them right if you 00:10:02.100 --> 00:10:03.710 align:start position:0% security of all of them right if you basically<00:10:02.339> if<00:10:02.459> you<00:10:02.640> want<00:10:02.700> to<00:10:02.820> use<00:10:03.120> assets<00:10:03.540> of 00:10:03.710 --> 00:10:03.720 align:start position:0% basically if you want to use assets of 00:10:03.720 --> 00:10:05.329 align:start position:0% basically if you want to use assets of like<00:10:03.899> 10<00:10:04.080> different<00:10:04.260> chains 00:10:05.329 --> 00:10:05.339 align:start position:0% like 10 different chains 00:10:05.339 --> 00:10:07.550 align:start position:0% like 10 different chains if<00:10:06.240> the<00:10:06.420> security<00:10:06.540> of<00:10:06.779> one<00:10:06.959> of<00:10:07.080> those<00:10:07.140> breaks 00:10:07.550 --> 00:10:07.560 align:start position:0% if the security of one of those breaks 00:10:07.560 --> 00:10:09.650 align:start position:0% if the security of one of those breaks like<00:10:07.800> that<00:10:08.040> specific<00:10:08.279> asset<00:10:09.060> just<00:10:09.300> basically 00:10:09.650 --> 00:10:09.660 align:start position:0% like that specific asset just basically 00:10:09.660 --> 00:10:12.110 align:start position:0% like that specific asset just basically is<00:10:09.779> is<00:10:09.959> broken<00:10:10.560> for<00:10:10.800> you<00:10:10.920> right<00:10:11.160> and<00:10:11.700> if<00:10:12.000> you 00:10:12.110 --> 00:10:12.120 align:start position:0% is is broken for you right and if you 00:10:12.120 --> 00:10:13.190 align:start position:0% is is broken for you right and if you have<00:10:12.240> some<00:10:12.360> sort<00:10:12.480> of<00:10:12.540> defense<00:10:12.839> system<00:10:13.019> where 00:10:13.190 --> 00:10:13.200 align:start position:0% have some sort of defense system where 00:10:13.200 --> 00:10:14.449 align:start position:0% have some sort of defense system where all<00:10:13.380> of<00:10:13.500> this<00:10:13.620> is<00:10:13.740> interconnected<00:10:14.160> basically 00:10:14.449 --> 00:10:14.459 align:start position:0% all of this is interconnected basically 00:10:14.459 --> 00:10:16.430 align:start position:0% all of this is interconnected basically everything<00:10:14.760> Can<00:10:15.000> Crash<00:10:15.240> and<00:10:15.360> Burn 00:10:16.430 --> 00:10:16.440 align:start position:0% everything Can Crash and Burn 00:10:16.440 --> 00:10:18.050 align:start position:0% everything Can Crash and Burn um<00:10:16.560> you<00:10:16.860> really<00:10:16.980> don't<00:10:17.160> want<00:10:17.399> this<00:10:17.580> minimum 00:10:18.050 --> 00:10:18.060 align:start position:0% um you really don't want this minimum 00:10:18.060 --> 00:10:19.910 align:start position:0% um you really don't want this minimum the<00:10:18.480> worst<00:10:18.839> of<00:10:18.959> all<00:10:19.140> security<00:10:19.380> kind<00:10:19.800> of 00:10:19.910 --> 00:10:19.920 align:start position:0% the worst of all security kind of 00:10:19.920 --> 00:10:22.550 align:start position:0% the worst of all security kind of situations<00:10:20.339> and<00:10:21.180> also<00:10:22.019> um<00:10:22.080> I<00:10:22.260> guess<00:10:22.380> that's 00:10:22.550 --> 00:10:22.560 align:start position:0% situations and also um I guess that's 00:10:22.560 --> 00:10:25.610 align:start position:0% situations and also um I guess that's less<00:10:22.800> of<00:10:23.339> a<00:10:23.399> severe<00:10:23.760> thing<00:10:24.060> but<00:10:24.360> also<00:10:24.660> in<00:10:25.500> this 00:10:25.610 --> 00:10:25.620 align:start position:0% less of a severe thing but also in this 00:10:25.620 --> 00:10:27.110 align:start position:0% less of a severe thing but also in this picture<00:10:25.740> you're<00:10:26.040> kind<00:10:26.220> of<00:10:26.279> duplicating<00:10:26.700> a<00:10:27.000> lot 00:10:27.110 --> 00:10:27.120 align:start position:0% picture you're kind of duplicating a lot 00:10:27.120 --> 00:10:28.430 align:start position:0% picture you're kind of duplicating a lot of<00:10:27.180> complexity 00:10:28.430 --> 00:10:28.440 align:start position:0% of complexity 00:10:28.440 --> 00:10:30.829 align:start position:0% of complexity um<00:10:28.500> for<00:10:29.339> each<00:10:29.459> chain<00:10:29.700> so<00:10:30.300> what<00:10:30.480> would<00:10:30.600> be<00:10:30.720> an 00:10:30.829 --> 00:10:30.839 align:start position:0% um for each chain so what would be an 00:10:30.839 --> 00:10:32.870 align:start position:0% um for each chain so what would be an alternative<00:10:31.200> Vision<00:10:31.440> how<00:10:31.680> do<00:10:31.860> we<00:10:32.040> think<00:10:32.640> the 00:10:32.870 --> 00:10:32.880 align:start position:0% alternative Vision how do we think the 00:10:32.880 --> 00:10:35.030 align:start position:0% alternative Vision how do we think the future<00:10:33.000> might<00:10:33.300> look<00:10:33.540> like<00:10:33.720> uh<00:10:34.560> that's<00:10:34.740> what<00:10:34.920> we 00:10:35.030 --> 00:10:35.040 align:start position:0% future might look like uh that's what we 00:10:35.040 --> 00:10:36.769 align:start position:0% future might look like uh that's what we what<00:10:35.279> we<00:10:35.399> call<00:10:35.519> like<00:10:35.640> a<00:10:35.820> shared<00:10:36.180> a<00:10:36.420> settlement 00:10:36.769 --> 00:10:36.779 align:start position:0% what we call like a shared a settlement 00:10:36.779 --> 00:10:39.470 align:start position:0% what we call like a shared a settlement chain<00:10:37.019> so<00:10:37.740> in<00:10:37.860> this<00:10:37.980> case<00:10:38.100> you<00:10:38.399> have<00:10:38.580> one<00:10:39.180> big 00:10:39.470 --> 00:10:39.480 align:start position:0% chain so in this case you have one big 00:10:39.480 --> 00:10:41.449 align:start position:0% chain so in this case you have one big settlement<00:10:39.899> chain<00:10:40.200> and<00:10:40.920> you<00:10:41.220> can<00:10:41.339> have 00:10:41.449 --> 00:10:41.459 align:start position:0% settlement chain and you can have 00:10:41.459 --> 00:10:42.949 align:start position:0% settlement chain and you can have multiple<00:10:41.820> Roll-Ups<00:10:42.300> on<00:10:42.360> top<00:10:42.540> of<00:10:42.779> course 00:10:42.949 --> 00:10:42.959 align:start position:0% multiple Roll-Ups on top of course 00:10:42.959 --> 00:10:44.870 align:start position:0% multiple Roll-Ups on top of course probably<00:10:43.440> realistically<00:10:44.220> the<00:10:44.519> future<00:10:44.640> will 00:10:44.870 --> 00:10:44.880 align:start position:0% probably realistically the future will 00:10:44.880 --> 00:10:46.250 align:start position:0% probably realistically the future will look<00:10:45.060> some<00:10:45.240> sort<00:10:45.420> like<00:10:45.600> some<00:10:45.779> sort<00:10:45.899> of<00:10:45.959> hybrid 00:10:46.250 --> 00:10:46.260 align:start position:0% look some sort like some sort of hybrid 00:10:46.260 --> 00:10:47.930 align:start position:0% look some sort like some sort of hybrid you'll<00:10:46.560> still<00:10:46.680> have<00:10:46.860> some<00:10:47.160> blockchains 00:10:47.930 --> 00:10:47.940 align:start position:0% you'll still have some blockchains 00:10:47.940 --> 00:10:49.130 align:start position:0% you'll still have some blockchains that's<00:10:48.000> prefer<00:10:48.360> to<00:10:48.540> do<00:10:48.600> their<00:10:48.720> own<00:10:48.839> settlement 00:10:49.130 --> 00:10:49.140 align:start position:0% that's prefer to do their own settlement 00:10:49.140 --> 00:10:51.650 align:start position:0% that's prefer to do their own settlement chain<00:10:49.320> but<00:10:49.560> but<00:10:50.040> we<00:10:50.760> predict<00:10:51.000> that<00:10:51.180> like<00:10:51.420> this 00:10:51.650 --> 00:10:51.660 align:start position:0% chain but but we predict that like this 00:10:51.660 --> 00:10:53.690 align:start position:0% chain but but we predict that like this will<00:10:51.839> be<00:10:52.079> a<00:10:52.380> big<00:10:52.500> chunk<00:10:52.680> of<00:10:52.860> it<00:10:52.980> basically<00:10:53.279> like 00:10:53.690 --> 00:10:53.700 align:start position:0% will be a big chunk of it basically like 00:10:53.700 --> 00:10:56.090 align:start position:0% will be a big chunk of it basically like a<00:10:54.060> shared<00:10:54.660> settlement<00:10:55.019> chain<00:10:55.260> and<00:10:55.620> why<00:10:55.740> is 00:10:56.090 --> 00:10:56.100 align:start position:0% a shared settlement chain and why is 00:10:56.100 --> 00:10:58.310 align:start position:0% a shared settlement chain and why is that<00:10:56.279> advantages 00:10:58.310 --> 00:10:58.320 align:start position:0% that advantages 00:10:58.320 --> 00:11:00.590 align:start position:0% that advantages um well<00:10:58.560> two<00:10:58.860> main<00:10:59.040> points<00:10:59.519> really 00:11:00.590 --> 00:11:00.600 align:start position:0% um well two main points really 00:11:00.600 --> 00:11:03.530 align:start position:0% um well two main points really um<00:11:00.660> one<00:11:01.019> is<00:11:01.320> the<00:11:01.740> shared<00:11:02.160> security 00:11:03.530 --> 00:11:03.540 align:start position:0% um one is the shared security 00:11:03.540 --> 00:11:04.910 align:start position:0% um one is the shared security um<00:11:03.600> I<00:11:03.720> like<00:11:03.899> to<00:11:04.019> think<00:11:04.140> about<00:11:04.260> it<00:11:04.440> like<00:11:04.560> shared 00:11:04.910 --> 00:11:04.920 align:start position:0% um I like to think about it like shared 00:11:04.920 --> 00:11:06.889 align:start position:0% um I like to think about it like shared pools<00:11:05.160> security<00:11:05.459> it's<00:11:06.120> not<00:11:06.300> quite<00:11:06.540> free 00:11:06.889 --> 00:11:06.899 align:start position:0% pools security it's not quite free 00:11:06.899 --> 00:11:08.569 align:start position:0% pools security it's not quite free security<00:11:07.200> sometimes<00:11:07.740> you<00:11:07.920> hear<00:11:08.160> people<00:11:08.399> talk 00:11:08.569 --> 00:11:08.579 align:start position:0% security sometimes you hear people talk 00:11:08.579 --> 00:11:10.190 align:start position:0% security sometimes you hear people talk about<00:11:08.700> how<00:11:09.000> if<00:11:09.240> you<00:11:09.420> if<00:11:09.600> you<00:11:09.779> turn<00:11:09.899> your<00:11:10.019> chain 00:11:10.190 --> 00:11:10.200 align:start position:0% about how if you if you turn your chain 00:11:10.200 --> 00:11:12.050 align:start position:0% about how if you if you turn your chain into<00:11:10.320> a<00:11:10.560> roll<00:11:10.680> up<00:11:10.860> you<00:11:11.220> just<00:11:11.339> get<00:11:11.579> the<00:11:11.820> the 00:11:12.050 --> 00:11:12.060 align:start position:0% into a roll up you just get the the 00:11:12.060 --> 00:11:14.210 align:start position:0% into a roll up you just get the the security<00:11:12.300> of<00:11:12.600> the<00:11:12.720> base<00:11:12.839> chain<00:11:13.079> for<00:11:13.380> free<00:11:13.560> and 00:11:14.210 --> 00:11:14.220 align:start position:0% security of the base chain for free and 00:11:14.220 --> 00:11:15.889 align:start position:0% security of the base chain for free and that's<00:11:14.519> not<00:11:14.700> quite<00:11:14.940> right<00:11:15.180> I<00:11:15.480> think<00:11:15.600> because 00:11:15.889 --> 00:11:15.899 align:start position:0% that's not quite right I think because 00:11:15.899 --> 00:11:19.009 align:start position:0% that's not quite right I think because actually<00:11:16.519> if<00:11:17.519> uh<00:11:18.000> say<00:11:18.240> you<00:11:18.360> have<00:11:18.480> 10<00:11:18.600> Roll-Ups 00:11:19.009 --> 00:11:19.019 align:start position:0% actually if uh say you have 10 Roll-Ups 00:11:19.019 --> 00:11:20.210 align:start position:0% actually if uh say you have 10 Roll-Ups on<00:11:19.079> top<00:11:19.200> of<00:11:19.260> a<00:11:19.380> settlement<00:11:19.620> chain<00:11:19.800> then<00:11:19.980> they 00:11:20.210 --> 00:11:20.220 align:start position:0% on top of a settlement chain then they 00:11:20.220 --> 00:11:22.490 align:start position:0% on top of a settlement chain then they basically<00:11:20.519> all<00:11:20.760> put<00:11:21.060> additional<00:11:21.779> strain<00:11:22.260> on 00:11:22.490 --> 00:11:22.500 align:start position:0% basically all put additional strain on 00:11:22.500 --> 00:11:24.050 align:start position:0% basically all put additional strain on top<00:11:22.620> of<00:11:22.800> that<00:11:22.980> settlement<00:11:23.399> chain<00:11:23.579> right<00:11:23.820> like 00:11:24.050 --> 00:11:24.060 align:start position:0% top of that settlement chain right like 00:11:24.060 --> 00:11:25.370 align:start position:0% top of that settlement chain right like now<00:11:24.420> the<00:11:24.600> incentive<00:11:24.899> to<00:11:25.019> attack<00:11:25.140> the 00:11:25.370 --> 00:11:25.380 align:start position:0% now the incentive to attack the 00:11:25.380 --> 00:11:27.530 align:start position:0% now the incentive to attack the settlement<00:11:25.620> chain<00:11:25.800> is<00:11:25.980> 10x<00:11:26.279> as<00:11:26.459> high<00:11:26.640> so<00:11:27.240> you 00:11:27.530 --> 00:11:27.540 align:start position:0% settlement chain is 10x as high so you 00:11:27.540 --> 00:11:29.509 align:start position:0% settlement chain is 10x as high so you you<00:11:27.839> don't<00:11:28.079> just<00:11:28.320> get<00:11:28.560> like<00:11:28.980> security<00:11:29.160> doesn't 00:11:29.509 --> 00:11:29.519 align:start position:0% you don't just get like security doesn't 00:11:29.519 --> 00:11:31.430 align:start position:0% you don't just get like security doesn't just<00:11:29.700> you<00:11:29.880> know<00:11:30.060> isn't<00:11:30.839> just<00:11:30.959> created<00:11:31.260> for 00:11:31.430 --> 00:11:31.440 align:start position:0% just you know isn't just created for 00:11:31.440 --> 00:11:32.569 align:start position:0% just you know isn't just created for free 00:11:32.569 --> 00:11:32.579 align:start position:0% free 00:11:32.579 --> 00:11:35.030 align:start position:0% free um<00:11:32.640> but<00:11:32.940> it<00:11:33.120> is<00:11:33.480> pooled<00:11:33.959> right<00:11:34.260> so<00:11:34.560> so<00:11:34.860> now 00:11:35.030 --> 00:11:35.040 align:start position:0% um but it is pooled right so so now 00:11:35.040 --> 00:11:36.829 align:start position:0% um but it is pooled right so so now basically<00:11:35.399> you<00:11:35.880> have<00:11:36.000> to<00:11:36.120> break<00:11:36.300> the<00:11:36.540> entire 00:11:36.829 --> 00:11:36.839 align:start position:0% basically you have to break the entire 00:11:36.839 --> 00:11:38.630 align:start position:0% basically you have to break the entire combined<00:11:37.440> system<00:11:37.560> instead<00:11:37.980> of<00:11:38.100> just<00:11:38.339> being 00:11:38.630 --> 00:11:38.640 align:start position:0% combined system instead of just being 00:11:38.640 --> 00:11:41.269 align:start position:0% combined system instead of just being able<00:11:38.820> to<00:11:38.940> take<00:11:39.180> the<00:11:39.360> weakest<00:11:39.720> link<00:11:39.899> and<00:11:40.800> what 00:11:41.269 --> 00:11:41.279 align:start position:0% able to take the weakest link and what 00:11:41.279 --> 00:11:43.069 align:start position:0% able to take the weakest link and what that<00:11:41.459> also<00:11:41.940> gives<00:11:42.000> you<00:11:42.180> is<00:11:42.300> then<00:11:42.480> because<00:11:42.720> you 00:11:43.069 --> 00:11:43.079 align:start position:0% that also gives you is then because you 00:11:43.079 --> 00:11:45.230 align:start position:0% that also gives you is then because you have<00:11:43.200> like<00:11:43.440> one<00:11:43.800> shared<00:11:44.220> trust 00:11:45.230 --> 00:11:45.240 align:start position:0% have like one shared trust 00:11:45.240 --> 00:11:47.870 align:start position:0% have like one shared trust um<00:11:45.300> trust<00:11:46.200> Zone<00:11:46.440> basically<00:11:46.920> that<00:11:47.459> all<00:11:47.700> the 00:11:47.870 --> 00:11:47.880 align:start position:0% um trust Zone basically that all the 00:11:47.880 --> 00:11:49.550 align:start position:0% um trust Zone basically that all the bridges<00:11:48.120> between<00:11:48.300> those<00:11:48.600> roll<00:11:48.779> ups<00:11:49.140> if 00:11:49.550 --> 00:11:49.560 align:start position:0% bridges between those roll ups if 00:11:49.560 --> 00:11:52.370 align:start position:0% bridges between those roll ups if implemented<00:11:50.160> perfectly<00:11:51.060> you<00:11:51.420> know<00:11:51.540> in<00:11:52.140> front 00:11:52.370 --> 00:11:52.380 align:start position:0% implemented perfectly you know in front 00:11:52.380 --> 00:11:53.750 align:start position:0% implemented perfectly you know in front caveat 00:11:53.750 --> 00:11:53.760 align:start position:0% caveat 00:11:53.760 --> 00:11:57.410 align:start position:0% caveat um<00:11:53.880> it<00:11:54.240> can<00:11:54.360> can<00:11:54.540> be<00:11:54.839> you<00:11:54.959> can<00:11:55.140> be<00:11:55.260> fully<00:11:55.560> secure 00:11:57.410 --> 00:11:57.420 align:start position:0% um it can can be you can be fully secure 00:11:57.420 --> 00:11:59.509 align:start position:0% um it can can be you can be fully secure um okay<00:11:57.839> so<00:11:58.019> with<00:11:58.320> that<00:11:58.500> kind<00:11:58.920> of<00:11:59.040> bringing<00:11:59.459> it 00:11:59.509 --> 00:11:59.519 align:start position:0% um okay so with that kind of bringing it 00:11:59.519 --> 00:12:01.730 align:start position:0% um okay so with that kind of bringing it back<00:11:59.700> to<00:11:59.820> ethereum<00:12:00.600> of<00:12:00.720> course<00:12:00.839> I<00:12:01.019> guess<00:12:01.380> the 00:12:01.730 --> 00:12:01.740 align:start position:0% back to ethereum of course I guess the 00:12:01.740 --> 00:12:03.110 align:start position:0% back to ethereum of course I guess the last<00:12:01.920> slide<00:12:02.279> they're<00:12:02.399> heavily<00:12:02.700> hinted<00:12:03.000> to 00:12:03.110 --> 00:12:03.120 align:start position:0% last slide they're heavily hinted to 00:12:03.120 --> 00:12:05.030 align:start position:0% last slide they're heavily hinted to where<00:12:03.240> we<00:12:03.420> want<00:12:03.480> to<00:12:03.600> end<00:12:03.779> up<00:12:03.959> with<00:12:04.140> at<00:12:04.680> but 00:12:05.030 --> 00:12:05.040 align:start position:0% where we want to end up with at but 00:12:05.040 --> 00:12:06.889 align:start position:0% where we want to end up with at but where<00:12:05.700> where<00:12:05.820> were<00:12:06.360> we<00:12:06.420> in<00:12:06.540> the<00:12:06.660> past<00:12:06.720> where 00:12:06.889 --> 00:12:06.899 align:start position:0% where where were we in the past where 00:12:06.899 --> 00:12:08.990 align:start position:0% where where were we in the past where are<00:12:07.079> we<00:12:07.200> today<00:12:07.320> and<00:12:07.560> how<00:12:08.100> how<00:12:08.279> could<00:12:08.519> we<00:12:08.700> get<00:12:08.820> to 00:12:08.990 --> 00:12:09.000 align:start position:0% are we today and how how could we get to 00:12:09.000 --> 00:12:12.110 align:start position:0% are we today and how how could we get to this<00:12:09.240> shared<00:12:09.959> settlement<00:12:10.500> layer<00:12:10.980> future<00:12:11.279> so 00:12:12.110 --> 00:12:12.120 align:start position:0% this shared settlement layer future so 00:12:12.120 --> 00:12:13.850 align:start position:0% this shared settlement layer future so kind<00:12:12.360> of<00:12:12.480> starting<00:12:12.660> with<00:12:13.079> ethereum<00:12:13.560> a<00:12:13.740> few 00:12:13.850 --> 00:12:13.860 align:start position:0% kind of starting with ethereum a few 00:12:13.860 --> 00:12:15.650 align:start position:0% kind of starting with ethereum a few years<00:12:13.980> ago<00:12:14.279> uh<00:12:14.700> in<00:12:15.000> the<00:12:15.060> early<00:12:15.120> days<00:12:15.300> basically 00:12:15.650 --> 00:12:15.660 align:start position:0% years ago uh in the early days basically 00:12:15.660 --> 00:12:17.569 align:start position:0% years ago uh in the early days basically ethereum<00:12:16.079> also<00:12:16.380> was<00:12:16.500> a<00:12:16.680> pure<00:12:16.860> execution<00:12:17.279> chain 00:12:17.569 --> 00:12:17.579 align:start position:0% ethereum also was a pure execution chain 00:12:17.579 --> 00:12:20.269 align:start position:0% ethereum also was a pure execution chain we<00:12:18.180> had<00:12:18.360> approved<00:12:18.839> work<00:12:19.019> security<00:12:19.279> robs 00:12:20.269 --> 00:12:20.279 align:start position:0% we had approved work security robs 00:12:20.279 --> 00:12:21.949 align:start position:0% we had approved work security robs weren't<00:12:20.459> yet<00:12:20.640> a<00:12:20.820> thing<00:12:20.940> that<00:12:21.540> was<00:12:21.660> kind<00:12:21.779> of<00:12:21.899> a 00:12:21.949 --> 00:12:21.959 align:start position:0% weren't yet a thing that was kind of a 00:12:21.959 --> 00:12:23.630 align:start position:0% weren't yet a thing that was kind of a happy<00:12:22.079> place<00:12:22.320> to<00:12:22.560> be<00:12:22.680> in<00:12:22.800> for<00:12:23.100> for<00:12:23.160> a<00:12:23.519> couple 00:12:23.630 --> 00:12:23.640 align:start position:0% happy place to be in for for a couple 00:12:23.640 --> 00:12:24.829 align:start position:0% happy place to be in for for a couple years 00:12:24.829 --> 00:12:24.839 align:start position:0% years 00:12:24.839 --> 00:12:27.050 align:start position:0% years um at<00:12:25.260> some<00:12:25.380> point<00:12:25.500> of<00:12:25.800> course<00:12:25.920> like<00:12:26.339> ethereum 00:12:27.050 --> 00:12:27.060 align:start position:0% um at some point of course like ethereum 00:12:27.060 --> 00:12:28.670 align:start position:0% um at some point of course like ethereum always<00:12:27.240> wanted<00:12:27.480> to<00:12:27.660> figure<00:12:27.839> out<00:12:28.019> like<00:12:28.260> how<00:12:28.500> do 00:12:28.670 --> 00:12:28.680 align:start position:0% always wanted to figure out like how do 00:12:28.680 --> 00:12:30.370 align:start position:0% always wanted to figure out like how do we<00:12:28.860> actually<00:12:28.980> scale<00:12:29.279> to<00:12:29.519> billions<00:12:29.880> of<00:12:30.000> users 00:12:30.370 --> 00:12:30.380 align:start position:0% we actually scale to billions of users 00:12:30.380 --> 00:12:33.290 align:start position:0% we actually scale to billions of users uh<00:12:31.380> it<00:12:31.740> took<00:12:32.040> quite<00:12:32.279> a<00:12:32.399> while<00:12:32.579> quite<00:12:33.120> a<00:12:33.240> few 00:12:33.290 --> 00:12:33.300 align:start position:0% uh it took quite a while quite a few 00:12:33.300 --> 00:12:35.329 align:start position:0% uh it took quite a while quite a few years<00:12:33.480> of<00:12:33.660> iterations<00:12:34.019> in<00:12:34.320> in<00:12:34.620> iterations 00:12:35.329 --> 00:12:35.339 align:start position:0% years of iterations in in iterations 00:12:35.339 --> 00:12:37.550 align:start position:0% years of iterations in in iterations just<00:12:36.000> because<00:12:36.120> I<00:12:36.480> like<00:12:36.660> kind<00:12:37.019> of<00:12:37.140> research 00:12:37.550 --> 00:12:37.560 align:start position:0% just because I like kind of research 00:12:37.560 --> 00:12:39.590 align:start position:0% just because I like kind of research archeology<00:12:38.100> and<00:12:38.459> I<00:12:38.579> would<00:12:38.880> encourage<00:12:39.360> you<00:12:39.480> if 00:12:39.590 --> 00:12:39.600 align:start position:0% archeology and I would encourage you if 00:12:39.600 --> 00:12:40.850 align:start position:0% archeology and I would encourage you if you<00:12:39.720> ever<00:12:39.839> have<00:12:40.019> some<00:12:40.200> free<00:12:40.380> time<00:12:40.500> and<00:12:40.740> nothing 00:12:40.850 --> 00:12:40.860 align:start position:0% you ever have some free time and nothing 00:12:40.860 --> 00:12:43.069 align:start position:0% you ever have some free time and nothing else<00:12:41.100> to<00:12:41.220> do<00:12:41.399> uh<00:12:42.120> go<00:12:42.300> look<00:12:42.480> at<00:12:42.660> all<00:12:42.779> research 00:12:43.069 --> 00:12:43.079 align:start position:0% else to do uh go look at all research 00:12:43.079 --> 00:12:45.170 align:start position:0% else to do uh go look at all research posts<00:12:43.380> it's<00:12:43.500> always<00:12:43.680> fun<00:12:43.920> so<00:12:44.579> to<00:12:44.880> basically 00:12:45.170 --> 00:12:45.180 align:start position:0% posts it's always fun so to basically 00:12:45.180 --> 00:12:46.550 align:start position:0% posts it's always fun so to basically just<00:12:45.300> illustrate<00:12:45.779> that<00:12:45.899> a<00:12:46.079> little<00:12:46.139> bit<00:12:46.260> I've 00:12:46.550 --> 00:12:46.560 align:start position:0% just illustrate that a little bit I've 00:12:46.560 --> 00:12:48.410 align:start position:0% just illustrate that a little bit I've like<00:12:46.860> picked<00:12:47.519> like<00:12:47.579> three<00:12:47.820> that<00:12:48.120> kind<00:12:48.300> of 00:12:48.410 --> 00:12:48.420 align:start position:0% like picked like three that kind of 00:12:48.420 --> 00:12:50.810 align:start position:0% like picked like three that kind of accompanied<00:12:49.019> our<00:12:49.380> way<00:12:49.620> kind<00:12:49.920> of<00:12:49.980> towards<00:12:50.459> this 00:12:50.810 --> 00:12:50.820 align:start position:0% accompanied our way kind of towards this 00:12:50.820 --> 00:12:53.389 align:start position:0% accompanied our way kind of towards this this<00:12:51.060> rural<00:12:51.540> Vision<00:12:51.779> the<00:12:52.380> first<00:12:52.560> one<00:12:52.740> is<00:12:53.220> if 00:12:53.389 --> 00:12:53.399 align:start position:0% this rural Vision the first one is if 00:12:53.399 --> 00:12:57.110 align:start position:0% this rural Vision the first one is if you<00:12:53.579> look<00:12:53.760> April<00:12:54.300> 2019<00:12:55.279> it's<00:12:56.279> it's<00:12:56.760> really 00:12:57.110 --> 00:12:57.120 align:start position:0% you look April 2019 it's it's really 00:12:57.120 --> 00:12:59.150 align:start position:0% you look April 2019 it's it's really quite<00:12:57.300> amazing<00:12:57.660> kcd<00:12:58.260> Trio<00:12:58.560> phase<00:12:58.800> one<00:12:58.980> and 00:12:59.150 --> 00:12:59.160 align:start position:0% quite amazing kcd Trio phase one and 00:12:59.160 --> 00:13:00.590 align:start position:0% quite amazing kcd Trio phase one and done<00:12:59.339> is<00:12:59.579> two<00:12:59.880> as<00:13:00.000> a<00:13:00.120> data<00:13:00.300> availability 00:13:00.590 --> 00:13:00.600 align:start position:0% done is two as a data availability 00:13:00.600 --> 00:13:02.449 align:start position:0% done is two as a data availability engine<00:13:00.959> nowadays<00:13:01.560> I<00:13:01.860> think<00:13:01.980> these<00:13:02.339> this 00:13:02.449 --> 00:13:02.459 align:start position:0% engine nowadays I think these this 00:13:02.459 --> 00:13:04.490 align:start position:0% engine nowadays I think these this technology<00:13:02.820> like<00:13:03.300> everyone<00:13:03.600> would<00:13:03.959> just<00:13:04.200> nod 00:13:04.490 --> 00:13:04.500 align:start position:0% technology like everyone would just nod 00:13:04.500 --> 00:13:05.870 align:start position:0% technology like everyone would just nod and<00:13:04.620> be<00:13:04.800> like<00:13:04.860> yeah<00:13:04.980> sure<00:13:05.220> thanks<00:13:05.459> shouting 00:13:05.870 --> 00:13:05.880 align:start position:0% and be like yeah sure thanks shouting 00:13:05.880 --> 00:13:07.490 align:start position:0% and be like yeah sure thanks shouting but<00:13:06.300> three<00:13:06.540> and<00:13:06.660> a<00:13:06.779> half<00:13:06.839> years<00:13:07.019> ago<00:13:07.200> I<00:13:07.380> think 00:13:07.490 --> 00:13:07.500 align:start position:0% but three and a half years ago I think 00:13:07.500 --> 00:13:10.069 align:start position:0% but three and a half years ago I think that<00:13:07.680> was<00:13:07.860> quite<00:13:08.279> visionary 00:13:10.069 --> 00:13:10.079 align:start position:0% that was quite visionary 00:13:10.079 --> 00:13:13.310 align:start position:0% that was quite visionary um<00:13:10.200> then<00:13:11.240> uh<00:13:12.240> a<00:13:12.480> year<00:13:12.660> later<00:13:12.839> a<00:13:13.019> year<00:13:13.139> and<00:13:13.260> a 00:13:13.310 --> 00:13:13.320 align:start position:0% um then uh a year later a year and a 00:13:13.320 --> 00:13:14.870 align:start position:0% um then uh a year later a year and a half<00:13:13.380> later<00:13:13.560> we<00:13:13.860> had<00:13:13.920> vitalik<00:13:14.459> for<00:13:14.639> the<00:13:14.760> first 00:13:14.870 --> 00:13:14.880 align:start position:0% half later we had vitalik for the first 00:13:14.880 --> 00:13:16.610 align:start position:0% half later we had vitalik for the first time<00:13:14.940> confusing<00:13:15.480> this<00:13:15.660> term<00:13:15.779> roll-up<00:13:16.200> Centric 00:13:16.610 --> 00:13:16.620 align:start position:0% time confusing this term roll-up Centric 00:13:16.620 --> 00:13:18.949 align:start position:0% time confusing this term roll-up Centric roadmap<00:13:17.339> where<00:13:17.760> basically<00:13:18.120> we<00:13:18.360> we<00:13:18.600> finally 00:13:18.949 --> 00:13:18.959 align:start position:0% roadmap where basically we we finally 00:13:18.959 --> 00:13:21.410 align:start position:0% roadmap where basically we we finally realized<00:13:19.440> that<00:13:19.740> yes<00:13:20.220> there<00:13:20.459> is<00:13:20.880> no<00:13:21.000> other<00:13:21.180> way 00:13:21.410 --> 00:13:21.420 align:start position:0% realized that yes there is no other way 00:13:21.420 --> 00:13:22.910 align:start position:0% realized that yes there is no other way to<00:13:21.540> scale<00:13:21.779> like<00:13:22.079> you<00:13:22.320> really<00:13:22.440> need<00:13:22.740> this 00:13:22.910 --> 00:13:22.920 align:start position:0% to scale like you really need this 00:13:22.920 --> 00:13:24.650 align:start position:0% to scale like you really need this decoupling<00:13:23.459> of<00:13:23.639> the<00:13:24.000> execution<00:13:24.360> of<00:13:24.540> the 00:13:24.650 --> 00:13:24.660 align:start position:0% decoupling of the execution of the 00:13:24.660 --> 00:13:26.150 align:start position:0% decoupling of the execution of the settlement<00:13:24.959> otherwise<00:13:25.380> like<00:13:25.860> you<00:13:26.040> you 00:13:26.150 --> 00:13:26.160 align:start position:0% settlement otherwise like you you 00:13:26.160 --> 00:13:29.150 align:start position:0% settlement otherwise like you you basically<00:13:27.000> as<00:13:27.839> I<00:13:28.139> was<00:13:28.260> saying<00:13:28.500> earlier<00:13:28.980> right 00:13:29.150 --> 00:13:29.160 align:start position:0% basically as I was saying earlier right 00:13:29.160 --> 00:13:31.310 align:start position:0% basically as I was saying earlier right you<00:13:29.279> can't<00:13:29.519> break<00:13:29.760> out<00:13:29.940> of<00:13:30.120> this<00:13:30.360> dilemma<00:13:31.139> so 00:13:31.310 --> 00:13:31.320 align:start position:0% you can't break out of this dilemma so 00:13:31.320 --> 00:13:33.290 align:start position:0% you can't break out of this dilemma so so<00:13:31.560> we<00:13:31.740> really<00:13:31.860> like<00:13:32.100> Roll-Ups<00:13:32.940> are<00:13:33.000> the<00:13:33.180> way 00:13:33.290 --> 00:13:33.300 align:start position:0% so we really like Roll-Ups are the way 00:13:33.300 --> 00:13:35.210 align:start position:0% so we really like Roll-Ups are the way to<00:13:33.480> go<00:13:33.600> here 00:13:35.210 --> 00:13:35.220 align:start position:0% to go here 00:13:35.220 --> 00:13:38.090 align:start position:0% to go here um and<00:13:35.639> then<00:13:35.760> just<00:13:36.000> uh<00:13:36.480> third<00:13:36.660> is<00:13:36.959> the<00:13:37.200> a<00:13:37.680> fun 00:13:38.090 --> 00:13:38.100 align:start position:0% um and then just uh third is the a fun 00:13:38.100 --> 00:13:39.470 align:start position:0% um and then just uh third is the a fun little<00:13:38.339> one 00:13:39.470 --> 00:13:39.480 align:start position:0% little one 00:13:39.480 --> 00:13:42.290 align:start position:0% little one um<00:13:39.600> that<00:13:39.959> uh<00:13:40.260> my<00:13:40.620> colleague<00:13:41.100> Matt 00:13:42.290 --> 00:13:42.300 align:start position:0% um that uh my colleague Matt 00:13:42.300 --> 00:13:45.290 align:start position:0% um that uh my colleague Matt um<00:13:42.800> uh<00:13:43.800> wrote<00:13:44.279> a<00:13:44.579> couple<00:13:44.940> weeks<00:13:45.240> after 00:13:45.290 --> 00:13:45.300 align:start position:0% um uh wrote a couple weeks after 00:13:45.300 --> 00:13:46.910 align:start position:0% um uh wrote a couple weeks after vitalik's<00:13:46.019> post 00:13:46.910 --> 00:13:46.920 align:start position:0% vitalik's post 00:13:46.920 --> 00:13:48.829 align:start position:0% vitalik's post um<00:13:46.980> looking<00:13:47.220> back<00:13:47.399> at<00:13:47.639> our<00:13:47.820> early<00:13:48.060> his<00:13:48.600> two 00:13:48.829 --> 00:13:48.839 align:start position:0% um looking back at our early his two 00:13:48.839 --> 00:13:52.190 align:start position:0% um looking back at our early his two plans<00:13:49.139> and<00:13:49.920> it<00:13:50.100> actually<00:13:50.399> turns<00:13:50.880> out<00:13:51.000> that<00:13:51.480> uh 00:13:52.190 --> 00:13:52.200 align:start position:0% plans and it actually turns out that uh 00:13:52.200 --> 00:13:53.750 align:start position:0% plans and it actually turns out that uh basically<00:13:52.560> this<00:13:52.740> if<00:13:52.980> you<00:13:53.279> remember<00:13:53.399> the<00:13:53.639> early 00:13:53.750 --> 00:13:53.760 align:start position:0% basically this if you remember the early 00:13:53.760 --> 00:13:55.610 align:start position:0% basically this if you remember the early chatting<00:13:54.540> plans 00:13:55.610 --> 00:13:55.620 align:start position:0% chatting plans 00:13:55.620 --> 00:13:57.650 align:start position:0% chatting plans um<00:13:55.680> if<00:13:55.860> I<00:13:55.980> just<00:13:56.160> go<00:13:56.279> back<00:13:56.459> a<00:13:56.639> couple<00:13:56.820> slides<00:13:57.480> if 00:13:57.650 --> 00:13:57.660 align:start position:0% um if I just go back a couple slides if 00:13:57.660 --> 00:14:01.310 align:start position:0% um if I just go back a couple slides if this<00:13:57.839> works<00:13:58.399> uh<00:13:59.399> actually<00:14:00.180> what<00:14:00.660> we<00:14:00.839> what<00:14:01.079> we 00:14:01.310 --> 00:14:01.320 align:start position:0% this works uh actually what we what we 00:14:01.320 --> 00:14:03.110 align:start position:0% this works uh actually what we what we were<00:14:01.500> planning<00:14:01.920> back<00:14:02.279> back<00:14:02.519> in<00:14:02.700> the<00:14:02.820> day<00:14:02.880> with 00:14:03.110 --> 00:14:03.120 align:start position:0% were planning back back in the day with 00:14:03.120 --> 00:14:05.090 align:start position:0% were planning back back in the day with all<00:14:03.300> these<00:14:03.480> different<00:14:03.600> charts<00:14:04.079> was<00:14:04.680> kind<00:14:04.980> of 00:14:05.090 --> 00:14:05.100 align:start position:0% all these different charts was kind of 00:14:05.100 --> 00:14:07.190 align:start position:0% all these different charts was kind of this<00:14:05.339> picture<00:14:05.519> all<00:14:05.880> along<00:14:06.060> right<00:14:06.420> it<00:14:06.839> was<00:14:06.959> just 00:14:07.190 --> 00:14:07.200 align:start position:0% this picture all along right it was just 00:14:07.200 --> 00:14:08.990 align:start position:0% this picture all along right it was just that<00:14:07.440> we<00:14:07.680> wanted<00:14:07.920> to<00:14:08.160> have<00:14:08.279> all<00:14:08.519> these<00:14:08.639> charts 00:14:08.990 --> 00:14:09.000 align:start position:0% that we wanted to have all these charts 00:14:09.000 --> 00:14:11.810 align:start position:0% that we wanted to have all these charts be<00:14:09.120> like<00:14:09.360> super<00:14:09.540> enshrined<00:14:10.260> and<00:14:11.100> and<00:14:11.279> at<00:14:11.700> some 00:14:11.810 --> 00:14:11.820 align:start position:0% be like super enshrined and and at some 00:14:11.820 --> 00:14:13.430 align:start position:0% be like super enshrined and and at some point<00:14:11.940> and<00:14:12.300> try<00:14:12.540> and<00:14:12.660> roll<00:14:12.779> ups<00:14:13.079> basically<00:14:13.320> and 00:14:13.430 --> 00:14:13.440 align:start position:0% point and try and roll ups basically and 00:14:13.440 --> 00:14:14.870 align:start position:0% point and try and roll ups basically and then<00:14:13.560> someone<00:14:13.680> we<00:14:13.980> realized<00:14:14.220> it's<00:14:14.459> just<00:14:14.639> much 00:14:14.870 --> 00:14:14.880 align:start position:0% then someone we realized it's just much 00:14:14.880 --> 00:14:17.150 align:start position:0% then someone we realized it's just much better<00:14:15.180> if<00:14:15.959> we<00:14:16.139> open<00:14:16.260> this<00:14:16.500> up<00:14:16.680> for<00:14:16.920> for 00:14:17.150 --> 00:14:17.160 align:start position:0% better if we open this up for for 00:14:17.160 --> 00:14:18.829 align:start position:0% better if we open this up for for General<00:14:17.399> Innovation<00:14:17.940> if<00:14:18.240> we<00:14:18.360> if<00:14:18.540> we<00:14:18.720> don't 00:14:18.829 --> 00:14:18.839 align:start position:0% General Innovation if we if we don't 00:14:18.839 --> 00:14:20.750 align:start position:0% General Innovation if we if we don't build<00:14:19.139> or<00:14:19.620> basically<00:14:20.100> if<00:14:20.220> we're<00:14:20.399> the<00:14:20.639> only 00:14:20.750 --> 00:14:20.760 align:start position:0% build or basically if we're the only 00:14:20.760 --> 00:14:22.970 align:start position:0% build or basically if we're the only parties<00:14:21.180> building<00:14:21.420> Roll-Ups 00:14:22.970 --> 00:14:22.980 align:start position:0% parties building Roll-Ups 00:14:22.980 --> 00:14:24.889 align:start position:0% parties building Roll-Ups um<00:14:23.100> and<00:14:23.639> so<00:14:23.760> yeah<00:14:23.880> this<00:14:24.240> this<00:14:24.420> basically<00:14:24.720> just 00:14:24.889 --> 00:14:24.899 align:start position:0% um and so yeah this this basically just 00:14:24.899 --> 00:14:27.110 align:start position:0% um and so yeah this this basically just you<00:14:25.079> know<00:14:25.200> it's<00:14:25.320> a<00:14:25.500> little<00:14:25.560> history<00:14:26.220> kind<00:14:26.940> of 00:14:27.110 --> 00:14:27.120 align:start position:0% you know it's a little history kind of 00:14:27.120 --> 00:14:28.910 align:start position:0% you know it's a little history kind of tidbit<00:14:27.660> so<00:14:27.899> so<00:14:28.079> this<00:14:28.260> is<00:14:28.380> kind<00:14:28.440> of<00:14:28.500> how<00:14:28.620> we<00:14:28.740> how 00:14:28.910 --> 00:14:28.920 align:start position:0% tidbit so so this is kind of how we how 00:14:28.920 --> 00:14:31.129 align:start position:0% tidbit so so this is kind of how we how we<00:14:29.100> got<00:14:29.220> to<00:14:29.399> where<00:14:29.940> we<00:14:30.120> wanted<00:14:30.240> to<00:14:30.420> move<00:14:30.720> move 00:14:31.129 --> 00:14:31.139 align:start position:0% we got to where we wanted to move move 00:14:31.139 --> 00:14:33.949 align:start position:0% we got to where we wanted to move move move<00:14:31.260> forward<00:14:32.220> with<00:14:32.700> ethereum<00:14:33.120> so<00:14:33.480> that<00:14:33.839> kind 00:14:33.949 --> 00:14:33.959 align:start position:0% move forward with ethereum so that kind 00:14:33.959 --> 00:14:35.629 align:start position:0% move forward with ethereum so that kind of<00:14:34.019> brings<00:14:34.200> us<00:14:34.680> to<00:14:34.920> to<00:14:35.100> the<00:14:35.279> kind<00:14:35.399> of<00:14:35.459> the 00:14:35.629 --> 00:14:35.639 align:start position:0% of brings us to to the kind of the 00:14:35.639 --> 00:14:38.329 align:start position:0% of brings us to to the kind of the pre-merge<00:14:36.180> state<00:14:36.360> where<00:14:36.839> we<00:14:37.380> already<00:14:37.560> started 00:14:38.329 --> 00:14:38.339 align:start position:0% pre-merge state where we already started 00:14:38.339 --> 00:14:41.269 align:start position:0% pre-merge state where we already started to<00:14:38.519> use<00:14:38.700> the<00:14:39.000> ethereum<00:14:39.360> chain<00:14:39.600> as<00:14:40.079> a<00:14:40.380> as<00:14:40.920> a 00:14:41.269 --> 00:14:41.279 align:start position:0% to use the ethereum chain as a as a 00:14:41.279 --> 00:14:42.769 align:start position:0% to use the ethereum chain as a as a settlement<00:14:41.760> chain<00:14:41.940> as<00:14:42.180> well<00:14:42.300> but<00:14:42.480> of<00:14:42.660> course 00:14:42.769 --> 00:14:42.779 align:start position:0% settlement chain as well but of course 00:14:42.779 --> 00:14:44.210 align:start position:0% settlement chain as well but of course it<00:14:42.899> still<00:14:43.079> has<00:14:43.199> execution<00:14:43.560> so<00:14:43.800> it's<00:14:43.920> like<00:14:44.040> kind 00:14:44.210 --> 00:14:44.220 align:start position:0% it still has execution so it's like kind 00:14:44.220 --> 00:14:46.129 align:start position:0% it still has execution so it's like kind of<00:14:44.279> like<00:14:44.399> a<00:14:44.519> hybrid<00:14:44.820> chain<00:14:45.060> it's<00:14:45.660> still<00:14:45.899> proof 00:14:46.129 --> 00:14:46.139 align:start position:0% of like a hybrid chain it's still proof 00:14:46.139 --> 00:14:47.389 align:start position:0% of like a hybrid chain it's still proof of work<00:14:46.320> security<00:14:46.560> of<00:14:46.860> course<00:14:46.980> before<00:14:47.160> the 00:14:47.389 --> 00:14:47.399 align:start position:0% of work security of course before the 00:14:47.399 --> 00:14:50.329 align:start position:0% of work security of course before the merge<00:14:47.760> uh<00:14:48.720> and<00:14:49.199> as<00:14:49.740> I<00:14:49.920> was<00:14:50.040> saying<00:14:50.220> right 00:14:50.329 --> 00:14:50.339 align:start position:0% merge uh and as I was saying right 00:14:50.339 --> 00:14:52.009 align:start position:0% merge uh and as I was saying right settlement<00:14:50.699> chains<00:14:51.060> need<00:14:51.180> the<00:14:51.360> settlement 00:14:52.009 --> 00:14:52.019 align:start position:0% settlement chains need the settlement 00:14:52.019 --> 00:14:54.050 align:start position:0% settlement chains need the settlement aspect<00:14:52.440> which<00:14:52.740> you<00:14:53.279> kind<00:14:53.459> of<00:14:53.519> get<00:14:53.639> for<00:14:53.880> free 00:14:54.050 --> 00:14:54.060 align:start position:0% aspect which you kind of get for free 00:14:54.060 --> 00:14:55.370 align:start position:0% aspect which you kind of get for free when<00:14:54.300> you<00:14:54.420> have<00:14:54.540> a<00:14:54.600> general<00:14:54.720> purpose<00:14:55.139> chain 00:14:55.370 --> 00:14:55.380 align:start position:0% when you have a general purpose chain 00:14:55.380 --> 00:14:57.110 align:start position:0% when you have a general purpose chain but<00:14:55.980> then<00:14:56.100> you<00:14:56.220> also<00:14:56.459> need<00:14:56.519> data<00:14:56.820> availability 00:14:57.110 --> 00:14:57.120 align:start position:0% but then you also need data availability 00:14:57.120 --> 00:14:59.269 align:start position:0% but then you also need data availability and<00:14:57.600> data<00:14:58.199> availability<00:14:58.500> on<00:14:58.860> the<00:14:58.980> existing 00:14:59.269 --> 00:14:59.279 align:start position:0% and data availability on the existing 00:14:59.279 --> 00:15:01.610 align:start position:0% and data availability on the existing ethereum<00:14:59.699> chain<00:14:59.940> is<00:15:00.420> really<00:15:00.779> quite<00:15:01.199> expensive 00:15:01.610 --> 00:15:01.620 align:start position:0% ethereum chain is really quite expensive 00:15:01.620 --> 00:15:03.590 align:start position:0% ethereum chain is really quite expensive it<00:15:01.860> was<00:15:02.160> never<00:15:02.339> meant<00:15:02.699> to<00:15:02.880> provide<00:15:03.240> data 00:15:03.590 --> 00:15:03.600 align:start position:0% it was never meant to provide data 00:15:03.600 --> 00:15:05.329 align:start position:0% it was never meant to provide data availability<00:15:03.899> so<00:15:04.260> what<00:15:04.500> it's<00:15:04.920> kind<00:15:05.220> of 00:15:05.329 --> 00:15:05.339 align:start position:0% availability so what it's kind of 00:15:05.339 --> 00:15:06.650 align:start position:0% availability so what it's kind of basically<00:15:05.579> right<00:15:05.760> now<00:15:05.940> kind<00:15:06.180> of<00:15:06.300> hacked<00:15:06.540> in 00:15:06.650 --> 00:15:06.660 align:start position:0% basically right now kind of hacked in 00:15:06.660 --> 00:15:09.230 align:start position:0% basically right now kind of hacked in you<00:15:06.899> just<00:15:07.139> basically<00:15:07.740> just<00:15:08.279> dump<00:15:08.519> data<00:15:09.000> into 00:15:09.230 --> 00:15:09.240 align:start position:0% you just basically just dump data into 00:15:09.240 --> 00:15:10.910 align:start position:0% you just basically just dump data into into<00:15:09.480> ethereum<00:15:09.959> transactions<00:15:10.560> and<00:15:10.740> then 00:15:10.910 --> 00:15:10.920 align:start position:0% into ethereum transactions and then 00:15:10.920 --> 00:15:12.710 align:start position:0% into ethereum transactions and then never<00:15:11.100> actually<00:15:11.399> use<00:15:11.579> them 00:15:12.710 --> 00:15:12.720 align:start position:0% never actually use them 00:15:12.720 --> 00:15:15.290 align:start position:0% never actually use them um<00:15:12.779> which<00:15:13.079> works<00:15:13.680> but<00:15:13.980> but<00:15:14.160> it's<00:15:14.639> just<00:15:15.000> very 00:15:15.290 --> 00:15:15.300 align:start position:0% um which works but but it's just very 00:15:15.300 --> 00:15:17.569 align:start position:0% um which works but but it's just very very<00:15:16.079> um<00:15:16.139> expensive<00:15:16.680> as<00:15:16.920> a<00:15:17.040> source<00:15:17.220> of<00:15:17.279> data 00:15:17.569 --> 00:15:17.579 align:start position:0% very um expensive as a source of data 00:15:17.579 --> 00:15:19.550 align:start position:0% very um expensive as a source of data availability<00:15:17.940> uh<00:15:18.899> of<00:15:19.079> course<00:15:19.139> we<00:15:19.260> started 00:15:19.550 --> 00:15:19.560 align:start position:0% availability uh of course we started 00:15:19.560 --> 00:15:21.170 align:start position:0% availability uh of course we started having<00:15:19.680> rollups<00:15:20.279> on<00:15:20.339> top 00:15:21.170 --> 00:15:21.180 align:start position:0% having rollups on top 00:15:21.180 --> 00:15:23.509 align:start position:0% having rollups on top um<00:15:21.300> really<00:15:22.199> exciting<00:15:22.560> if<00:15:22.740> you<00:15:22.860> ask<00:15:22.980> me<00:15:23.160> I<00:15:23.399> think 00:15:23.509 --> 00:15:23.519 align:start position:0% um really exciting if you ask me I think 00:15:23.519 --> 00:15:24.829 align:start position:0% um really exciting if you ask me I think Roll-Ups<00:15:24.000> have<00:15:24.120> been<00:15:24.360> making<00:15:24.480> a<00:15:24.660> lot<00:15:24.720> of 00:15:24.829 --> 00:15:24.839 align:start position:0% Roll-Ups have been making a lot of 00:15:24.839 --> 00:15:27.230 align:start position:0% Roll-Ups have been making a lot of progress<00:15:25.079> over<00:15:25.260> the<00:15:25.440> last<00:15:25.560> two<00:15:25.980> years 00:15:27.230 --> 00:15:27.240 align:start position:0% progress over the last two years 00:15:27.240 --> 00:15:28.790 align:start position:0% progress over the last two years um<00:15:27.300> and<00:15:27.600> then<00:15:27.720> you<00:15:28.019> know<00:15:28.139> pre-merge<00:15:28.560> we<00:15:28.680> had 00:15:28.790 --> 00:15:28.800 align:start position:0% um and then you know pre-merge we had 00:15:28.800 --> 00:15:31.069 align:start position:0% um and then you know pre-merge we had this<00:15:28.920> this<00:15:29.100> Beacon<00:15:29.459> chain<00:15:29.660> just<00:15:30.660> an<00:15:30.779> empty 00:15:31.069 --> 00:15:31.079 align:start position:0% this this Beacon chain just an empty 00:15:31.079 --> 00:15:33.470 align:start position:0% this this Beacon chain just an empty little<00:15:31.199> box<00:15:31.440> nothing<00:15:31.800> in<00:15:32.040> it<00:15:32.220> and<00:15:32.880> but<00:15:33.240> much 00:15:33.470 --> 00:15:33.480 align:start position:0% little box nothing in it and but much 00:15:33.480 --> 00:15:35.210 align:start position:0% little box nothing in it and but much stronger<00:15:33.779> proof<00:15:34.019> of<00:15:34.199> proof<00:15:34.800> stake<00:15:35.040> security 00:15:35.210 --> 00:15:35.220 align:start position:0% stronger proof of proof stake security 00:15:35.220 --> 00:15:37.370 align:start position:0% stronger proof of proof stake security right<00:15:35.579> and<00:15:35.760> then<00:15:35.940> of<00:15:36.180> course 00:15:37.370 --> 00:15:37.380 align:start position:0% right and then of course 00:15:37.380 --> 00:15:41.269 align:start position:0% right and then of course as<00:15:37.980> of<00:15:38.160> today<00:15:38.820> we<00:15:39.540> ended<00:15:39.779> up<00:15:39.899> you<00:15:40.560> know<00:15:40.620> merging 00:15:41.269 --> 00:15:41.279 align:start position:0% as of today we ended up you know merging 00:15:41.279 --> 00:15:44.210 align:start position:0% as of today we ended up you know merging and<00:15:42.120> now<00:15:42.480> we<00:15:42.720> have<00:15:42.899> have<00:15:43.199> this<00:15:43.560> uh<00:15:43.920> basically 00:15:44.210 --> 00:15:44.220 align:start position:0% and now we have have this uh basically 00:15:44.220 --> 00:15:46.129 align:start position:0% and now we have have this uh basically same<00:15:44.579> same<00:15:44.639> situations<00:15:45.120> before<00:15:45.420> but<00:15:45.660> but<00:15:45.839> much 00:15:46.129 --> 00:15:46.139 align:start position:0% same same situations before but but much 00:15:46.139 --> 00:15:48.350 align:start position:0% same same situations before but but much higher<00:15:46.740> security 00:15:48.350 --> 00:15:48.360 align:start position:0% higher security 00:15:48.360 --> 00:15:50.569 align:start position:0% higher security um and<00:15:48.720> just<00:15:48.839> as<00:15:48.959> a<00:15:49.199> maybe<00:15:49.320> quicker<00:15:49.860> side<00:15:50.040> I<00:15:50.399> I 00:15:50.569 --> 00:15:50.579 align:start position:0% um and just as a maybe quicker side I I 00:15:50.579 --> 00:15:52.670 align:start position:0% um and just as a maybe quicker side I I think<00:15:50.820> I<00:15:50.940> have<00:15:51.060> the<00:15:51.180> time<00:15:51.360> for<00:15:51.480> that<00:15:51.660> uh<00:15:52.320> why 00:15:52.670 --> 00:15:52.680 align:start position:0% think I have the time for that uh why 00:15:52.680 --> 00:15:54.650 align:start position:0% think I have the time for that uh why does<00:15:52.920> proof<00:15:53.220> of<00:15:53.279> stake<00:15:53.579> actually<00:15:53.820> give<00:15:54.240> higher 00:15:54.650 --> 00:15:54.660 align:start position:0% does proof of stake actually give higher 00:15:54.660 --> 00:15:56.509 align:start position:0% does proof of stake actually give higher security<00:15:54.779> I<00:15:55.139> always<00:15:55.320> I<00:15:55.740> mean<00:15:55.800> it's<00:15:56.040> not<00:15:56.279> really 00:15:56.509 --> 00:15:56.519 align:start position:0% security I always I mean it's not really 00:15:56.519 --> 00:15:58.910 align:start position:0% security I always I mean it's not really kind<00:15:56.820> of<00:15:56.940> part<00:15:57.240> of<00:15:57.360> my<00:15:57.540> talk<00:15:57.720> but<00:15:58.139> just<00:15:58.800> because 00:15:58.910 --> 00:15:58.920 align:start position:0% kind of part of my talk but just because 00:15:58.920 --> 00:16:00.170 align:start position:0% kind of part of my talk but just because I<00:15:59.100> always<00:15:59.220> see<00:15:59.459> a<00:15:59.579> little<00:15:59.699> bit<00:15:59.820> of<00:15:59.880> confusion 00:16:00.170 --> 00:16:00.180 align:start position:0% I always see a little bit of confusion 00:16:00.180 --> 00:16:02.090 align:start position:0% I always see a little bit of confusion about<00:16:00.300> that<00:16:00.480> debate<00:16:00.779> on<00:16:00.899> Twitter<00:16:01.079> and<00:16:01.740> I<00:16:02.040> think 00:16:02.090 --> 00:16:02.100 align:start position:0% about that debate on Twitter and I think 00:16:02.100 --> 00:16:03.769 align:start position:0% about that debate on Twitter and I think it's<00:16:02.220> it's<00:16:02.459> really<00:16:02.699> quite<00:16:03.060> quite<00:16:03.660> simple 00:16:03.769 --> 00:16:03.779 align:start position:0% it's it's really quite quite simple 00:16:03.779 --> 00:16:05.329 align:start position:0% it's it's really quite quite simple actually<00:16:04.079> like 00:16:05.329 --> 00:16:05.339 align:start position:0% actually like 00:16:05.339 --> 00:16:07.730 align:start position:0% actually like um<00:16:05.459> the<00:16:06.060> the<00:16:06.360> way<00:16:06.779> I<00:16:06.899> would<00:16:07.199> think<00:16:07.380> about<00:16:07.500> like 00:16:07.730 --> 00:16:07.740 align:start position:0% um the the way I would think about like 00:16:07.740 --> 00:16:09.410 align:start position:0% um the the way I would think about like moving<00:16:08.040> from<00:16:08.100> working<00:16:08.519> to<00:16:08.820> proof<00:16:09.060> of<00:16:09.120> stake<00:16:09.300> in 00:16:09.410 --> 00:16:09.420 align:start position:0% moving from working to proof of stake in 00:16:09.420 --> 00:16:11.990 align:start position:0% moving from working to proof of stake in terms<00:16:09.600> of<00:16:09.660> security<00:16:09.839> one<00:16:10.740> it's<00:16:11.100> just<00:16:11.339> more 00:16:11.990 --> 00:16:12.000 align:start position:0% terms of security one it's just more 00:16:12.000 --> 00:16:14.689 align:start position:0% terms of security one it's just more efficient<00:16:12.360> right<00:16:12.660> and<00:16:13.440> that<00:16:13.800> is<00:16:13.920> because<00:16:14.100> you 00:16:14.689 --> 00:16:14.699 align:start position:0% efficient right and that is because you 00:16:14.699 --> 00:16:17.150 align:start position:0% efficient right and that is because you don't<00:16:14.820> you<00:16:15.180> basically<00:16:15.959> with<00:16:16.620> mining<00:16:16.980> you 00:16:17.150 --> 00:16:17.160 align:start position:0% don't you basically with mining you 00:16:17.160 --> 00:16:19.189 align:start position:0% don't you basically with mining you actually<00:16:17.339> have<00:16:17.519> to<00:16:17.699> pay<00:16:17.940> for<00:16:18.360> the<00:16:18.720> entire<00:16:18.959> cost 00:16:19.189 --> 00:16:19.199 align:start position:0% actually have to pay for the entire cost 00:16:19.199 --> 00:16:20.750 align:start position:0% actually have to pay for the entire cost of<00:16:19.380> the<00:16:19.500> operation<00:16:19.740> you<00:16:19.980> have<00:16:20.100> to<00:16:20.220> reimburse 00:16:20.750 --> 00:16:20.760 align:start position:0% of the operation you have to reimburse 00:16:20.760 --> 00:16:22.790 align:start position:0% of the operation you have to reimburse minus<00:16:21.120> for<00:16:21.420> both<00:16:21.839> the<00:16:22.019> mining<00:16:22.320> hardware<00:16:22.500> and 00:16:22.790 --> 00:16:22.800 align:start position:0% minus for both the mining hardware and 00:16:22.800 --> 00:16:24.110 align:start position:0% minus for both the mining hardware and the<00:16:22.980> energy<00:16:23.100> right<00:16:23.399> like<00:16:23.579> they<00:16:23.760> have<00:16:23.880> to<00:16:24.000> make 00:16:24.110 --> 00:16:24.120 align:start position:0% the energy right like they have to make 00:16:24.120 --> 00:16:26.329 align:start position:0% the energy right like they have to make all<00:16:24.300> of<00:16:24.420> that<00:16:24.540> up<00:16:24.720> with<00:16:25.139> the<00:16:25.320> income<00:16:25.620> whereas 00:16:26.329 --> 00:16:26.339 align:start position:0% all of that up with the income whereas 00:16:26.339 --> 00:16:27.829 align:start position:0% all of that up with the income whereas in<00:16:26.579> proof<00:16:26.820> of<00:16:26.880> stake<00:16:27.180> you<00:16:27.360> only<00:16:27.420> have<00:16:27.660> to<00:16:27.720> make 00:16:27.829 --> 00:16:27.839 align:start position:0% in proof of stake you only have to make 00:16:27.839 --> 00:16:29.990 align:start position:0% in proof of stake you only have to make up<00:16:28.019> the<00:16:28.199> lost<00:16:28.380> interest<00:16:28.680> on<00:16:29.040> your<00:16:29.160> money<00:16:29.339> so 00:16:29.990 --> 00:16:30.000 align:start position:0% up the lost interest on your money so 00:16:30.000 --> 00:16:31.370 align:start position:0% up the lost interest on your money so basically<00:16:30.360> you<00:16:30.540> can<00:16:30.660> get<00:16:30.779> away<00:16:30.899> with<00:16:31.199> with 00:16:31.370 --> 00:16:31.380 align:start position:0% basically you can get away with with 00:16:31.380 --> 00:16:33.949 align:start position:0% basically you can get away with with paying<00:16:31.800> way<00:16:31.980> if<00:16:32.339> your<00:16:32.519> rewards<00:16:33.060> for<00:16:33.540> this<00:16:33.720> for 00:16:33.949 --> 00:16:33.959 align:start position:0% paying way if your rewards for this for 00:16:33.959 --> 00:16:36.650 align:start position:0% paying way if your rewards for this for the<00:16:34.019> same<00:16:34.199> security<00:16:34.380> uh<00:16:35.279> in<00:16:35.519> in<00:16:35.699> improve<00:16:36.360> stake 00:16:36.650 --> 00:16:36.660 align:start position:0% the same security uh in in improve stake 00:16:36.660 --> 00:16:39.230 align:start position:0% the same security uh in in improve stake and<00:16:37.320> and<00:16:37.800> then<00:16:37.860> the<00:16:38.100> other<00:16:38.160> one<00:16:38.399> it<00:16:38.759> is<00:16:38.820> also 00:16:39.230 --> 00:16:39.240 align:start position:0% and and then the other one it is also 00:16:39.240 --> 00:16:40.790 align:start position:0% and and then the other one it is also that<00:16:39.480> proof<00:16:39.899> stake<00:16:40.199> security<00:16:40.320> is<00:16:40.620> just 00:16:40.790 --> 00:16:40.800 align:start position:0% that proof stake security is just 00:16:40.800 --> 00:16:43.189 align:start position:0% that proof stake security is just fundamentally<00:16:41.339> more<00:16:41.759> effective<00:16:42.180> so<00:16:42.779> that 00:16:43.189 --> 00:16:43.199 align:start position:0% fundamentally more effective so that 00:16:43.199 --> 00:16:45.350 align:start position:0% fundamentally more effective so that means<00:16:43.440> that<00:16:43.620> if<00:16:43.920> ever<00:16:44.220> there<00:16:44.699> were<00:16:44.880> to<00:16:45.060> be<00:16:45.180> a 00:16:45.350 --> 00:16:45.360 align:start position:0% means that if ever there were to be a 00:16:45.360 --> 00:16:47.210 align:start position:0% means that if ever there were to be a failure<00:16:45.720> which<00:16:46.440> of<00:16:46.620> course<00:16:46.740> hopefully<00:16:47.100> they 00:16:47.210 --> 00:16:47.220 align:start position:0% failure which of course hopefully they 00:16:47.220 --> 00:16:48.710 align:start position:0% failure which of course hopefully they will<00:16:47.399> never<00:16:47.519> be<00:16:47.639> but<00:16:47.880> if<00:16:48.060> they<00:16:48.180> ever<00:16:48.360> were<00:16:48.540> to 00:16:48.710 --> 00:16:48.720 align:start position:0% will never be but if they ever were to 00:16:48.720 --> 00:16:50.509 align:start position:0% will never be but if they ever were to be<00:16:48.839> like<00:16:48.959> an<00:16:49.079> attack<00:16:49.199> or<00:16:49.500> something 00:16:50.509 --> 00:16:50.519 align:start position:0% be like an attack or something 00:16:50.519 --> 00:16:52.490 align:start position:0% be like an attack or something um<00:16:50.639> the<00:16:50.880> attack<00:16:51.060> is<00:16:51.360> attributable<00:16:52.079> and<00:16:52.259> so<00:16:52.380> you 00:16:52.490 --> 00:16:52.500 align:start position:0% um the attack is attributable and so you 00:16:52.500 --> 00:16:54.290 align:start position:0% um the attack is attributable and so you can<00:16:52.560> you<00:16:52.740> can<00:16:52.920> just<00:16:53.100> you<00:16:53.339> can<00:16:53.579> go<00:16:53.940> in<00:16:54.120> and 00:16:54.290 --> 00:16:54.300 align:start position:0% can you can just you can go in and 00:16:54.300 --> 00:16:56.449 align:start position:0% can you can just you can go in and selectively<00:16:54.959> punish<00:16:55.380> people<00:16:55.620> improve<00:16:56.220> work 00:16:56.449 --> 00:16:56.459 align:start position:0% selectively punish people improve work 00:16:56.459 --> 00:16:58.970 align:start position:0% selectively punish people improve work once<00:16:57.240> someone<00:16:57.360> like<00:16:57.720> an<00:16:57.899> attacker<00:16:58.259> has<00:16:58.320> 51<00:16:58.620> of 00:16:58.970 --> 00:16:58.980 align:start position:0% once someone like an attacker has 51 of 00:16:58.980 --> 00:17:01.069 align:start position:0% once someone like an attacker has 51 of the<00:16:59.100> resources<00:16:59.519> you<00:17:00.360> basically<00:17:00.660> just<00:17:00.839> you 00:17:01.069 --> 00:17:01.079 align:start position:0% the resources you basically just you 00:17:01.079 --> 00:17:02.810 align:start position:0% the resources you basically just you know<00:17:01.199> your<00:17:01.320> change<00:17:01.560> is<00:17:01.680> just<00:17:01.860> lost<00:17:02.040> nothing 00:17:02.810 --> 00:17:02.820 align:start position:0% know your change is just lost nothing 00:17:02.820 --> 00:17:05.150 align:start position:0% know your change is just lost nothing nothing<00:17:03.060> to<00:17:03.360> be<00:17:03.480> done<00:17:03.660> improve<00:17:04.620> stake<00:17:04.980> it's 00:17:05.150 --> 00:17:05.160 align:start position:0% nothing to be done improve stake it's 00:17:05.160 --> 00:17:06.409 align:start position:0% nothing to be done improve stake it's really<00:17:05.339> not<00:17:05.459> a<00:17:05.579> big<00:17:05.699> deal<00:17:05.819> actually<00:17:06.059> right 00:17:06.409 --> 00:17:06.419 align:start position:0% really not a big deal actually right 00:17:06.419 --> 00:17:08.030 align:start position:0% really not a big deal actually right it's<00:17:06.900> a<00:17:07.020> little<00:17:07.079> bit<00:17:07.199> annoying<00:17:07.559> for<00:17:07.679> maybe<00:17:07.860> a 00:17:08.030 --> 00:17:08.040 align:start position:0% it's a little bit annoying for maybe a 00:17:08.040 --> 00:17:09.230 align:start position:0% it's a little bit annoying for maybe a day<00:17:08.160> and<00:17:08.339> then<00:17:08.459> afterwards<00:17:08.819> you're<00:17:08.939> just<00:17:09.059> done 00:17:09.230 --> 00:17:09.240 align:start position:0% day and then afterwards you're just done 00:17:09.240 --> 00:17:11.630 align:start position:0% day and then afterwards you're just done with<00:17:09.360> it<00:17:09.540> and<00:17:10.199> so<00:17:10.439> so<00:17:10.559> that's<00:17:10.919> really<00:17:11.220> really 00:17:11.630 --> 00:17:11.640 align:start position:0% with it and so so that's really really 00:17:11.640 --> 00:17:13.669 align:start position:0% with it and so so that's really really uh<00:17:12.059> neat<00:17:12.419> I<00:17:12.540> think<00:17:12.660> and<00:17:12.959> then<00:17:13.020> also<00:17:13.319> like<00:17:13.500> I 00:17:13.669 --> 00:17:13.679 align:start position:0% uh neat I think and then also like I 00:17:13.679 --> 00:17:15.590 align:start position:0% uh neat I think and then also like I couldn't<00:17:13.799> couldn't<00:17:14.040> quite<00:17:14.220> help<00:17:14.400> myself 00:17:15.590 --> 00:17:15.600 align:start position:0% couldn't couldn't quite help myself 00:17:15.600 --> 00:17:18.130 align:start position:0% couldn't couldn't quite help myself um<00:17:15.720> maybe<00:17:16.380> this<00:17:16.860> one 00:17:18.130 --> 00:17:18.140 align:start position:0% um maybe this one 00:17:18.140 --> 00:17:20.630 align:start position:0% um maybe this one esoteric<00:17:19.140> maybe<00:17:19.319> but 00:17:20.630 --> 00:17:20.640 align:start position:0% esoteric maybe but 00:17:20.640 --> 00:17:22.789 align:start position:0% esoteric maybe but um<00:17:20.760> another<00:17:21.480> interesting<00:17:22.319> mechanism<00:17:22.559> in 00:17:22.789 --> 00:17:22.799 align:start position:0% um another interesting mechanism in 00:17:22.799 --> 00:17:24.289 align:start position:0% um another interesting mechanism in terms<00:17:22.980> of<00:17:23.040> security<00:17:23.220> that<00:17:23.520> I<00:17:23.699> really<00:17:23.819> like<00:17:24.000> is 00:17:24.289 --> 00:17:24.299 align:start position:0% terms of security that I really like is 00:17:24.299 --> 00:17:27.409 align:start position:0% terms of security that I really like is this<00:17:25.020> um<00:17:25.020> ultrasound<00:17:25.620> uh<00:17:26.520> money<00:17:26.760> one<00:17:27.059> where 00:17:27.409 --> 00:17:27.419 align:start position:0% this um ultrasound uh money one where 00:17:27.419 --> 00:17:29.390 align:start position:0% this um ultrasound uh money one where basically<00:17:27.720> the<00:17:27.839> idea<00:17:28.079> is<00:17:28.260> when<00:17:28.620> you<00:17:28.799> have<00:17:28.980> an 00:17:29.390 --> 00:17:29.400 align:start position:0% basically the idea is when you have an 00:17:29.400 --> 00:17:31.669 align:start position:0% basically the idea is when you have an normal<00:17:30.120> mining<00:17:30.540> rewards<00:17:30.960> that<00:17:31.140> means<00:17:31.320> that<00:17:31.500> we 00:17:31.669 --> 00:17:31.679 align:start position:0% normal mining rewards that means that we 00:17:31.679 --> 00:17:32.409 align:start position:0% normal mining rewards that means that we have 00:17:32.409 --> 00:17:32.419 align:start position:0% have 00:17:32.419 --> 00:17:34.970 align:start position:0% have as<00:17:33.419> the<00:17:33.600> asset<00:17:33.840> has<00:17:34.020> this<00:17:34.320> much<00:17:34.500> improved 00:17:34.970 --> 00:17:34.980 align:start position:0% as the asset has this much improved 00:17:34.980 --> 00:17:37.970 align:start position:0% as the asset has this much improved monetary<00:17:35.460> properties<00:17:36.020> which<00:17:37.020> in<00:17:37.260> long<00:17:37.799> run 00:17:37.970 --> 00:17:37.980 align:start position:0% monetary properties which in long run 00:17:37.980 --> 00:17:40.130 align:start position:0% monetary properties which in long run might<00:17:38.760> you<00:17:39.240> know<00:17:39.299> might<00:17:39.480> or<00:17:39.660> might<00:17:39.900> not<00:17:39.960> turn 00:17:40.130 --> 00:17:40.140 align:start position:0% might you know might or might not turn 00:17:40.140 --> 00:17:41.810 align:start position:0% might you know might or might not turn into<00:17:40.320> a<00:17:40.500> higher<00:17:40.679> expected<00:17:41.039> monetary<00:17:41.400> premium 00:17:41.810 --> 00:17:41.820 align:start position:0% into a higher expected monetary premium 00:17:41.820 --> 00:17:44.090 align:start position:0% into a higher expected monetary premium higher<00:17:42.480> total<00:17:42.660> eth<00:17:42.960> market<00:17:43.140> cap<00:17:43.380> and<00:17:43.740> we<00:17:43.919> can 00:17:44.090 --> 00:17:44.100 align:start position:0% higher total eth market cap and we can 00:17:44.100 --> 00:17:46.789 align:start position:0% higher total eth market cap and we can just<00:17:44.280> buy<00:17:44.520> more<00:17:44.760> Security<00:17:45.000> in<00:17:45.419> absolute<00:17:46.020> terms 00:17:46.789 --> 00:17:46.799 align:start position:0% just buy more Security in absolute terms 00:17:46.799 --> 00:17:48.650 align:start position:0% just buy more Security in absolute terms but<00:17:47.160> again<00:17:47.340> you<00:17:47.520> know<00:17:47.640> this<00:17:47.760> is<00:17:47.880> esoteric 00:17:48.650 --> 00:17:48.660 align:start position:0% but again you know this is esoteric 00:17:48.660 --> 00:17:50.029 align:start position:0% but again you know this is esoteric totally<00:17:49.020> fine<00:17:49.140> if<00:17:49.320> you<00:17:49.440> don't<00:17:49.500> buy<00:17:49.679> into<00:17:49.799> this 00:17:50.029 --> 00:17:50.039 align:start position:0% totally fine if you don't buy into this 00:17:50.039 --> 00:17:51.890 align:start position:0% totally fine if you don't buy into this that<00:17:50.460> the<00:17:50.700> first<00:17:50.820> bullet<00:17:51.179> point<00:17:51.299> is<00:17:51.480> the<00:17:51.780> more 00:17:51.890 --> 00:17:51.900 align:start position:0% that the first bullet point is the more 00:17:51.900 --> 00:17:53.570 align:start position:0% that the first bullet point is the more important<00:17:52.140> one<00:17:52.320> here 00:17:53.570 --> 00:17:53.580 align:start position:0% important one here 00:17:53.580 --> 00:17:56.390 align:start position:0% important one here um<00:17:53.640> okay<00:17:54.000> so<00:17:54.660> this<00:17:55.080> is<00:17:55.200> ethereum<00:17:55.620> today<00:17:55.799> uh 00:17:56.390 --> 00:17:56.400 align:start position:0% um okay so this is ethereum today uh 00:17:56.400 --> 00:17:57.890 align:start position:0% um okay so this is ethereum today uh where<00:17:56.520> do<00:17:56.700> we<00:17:56.760> want<00:17:56.880> to<00:17:57.000> go<00:17:57.120> uh<00:17:57.600> how<00:17:57.720> do<00:17:57.840> we 00:17:57.890 --> 00:17:57.900 align:start position:0% where do we want to go uh how do we 00:17:57.900 --> 00:17:59.270 align:start position:0% where do we want to go uh how do we actually<00:17:58.020> get<00:17:58.260> to<00:17:58.440> this<00:17:58.620> full<00:17:58.860> you<00:17:59.220> know 00:17:59.270 --> 00:17:59.280 align:start position:0% actually get to this full you know 00:17:59.280 --> 00:18:01.730 align:start position:0% actually get to this full you know settlement<00:18:00.000> chain<00:18:00.240> uh<00:18:01.020> how<00:18:01.200> do<00:18:01.320> we<00:18:01.380> get<00:18:01.500> full 00:18:01.730 --> 00:18:01.740 align:start position:0% settlement chain uh how do we get full 00:18:01.740 --> 00:18:03.169 align:start position:0% settlement chain uh how do we get full data<00:18:02.100> availability<00:18:02.340> all<00:18:02.640> of<00:18:02.820> that<00:18:02.940> kind<00:18:03.120> of 00:18:03.169 --> 00:18:03.179 align:start position:0% data availability all of that kind of 00:18:03.179 --> 00:18:05.930 align:start position:0% data availability all of that kind of thing<00:18:03.299> so<00:18:03.660> first<00:18:04.620> thing<00:18:04.860> is<00:18:05.520> next<00:18:05.760> year 00:18:05.930 --> 00:18:05.940 align:start position:0% thing so first thing is next year 00:18:05.940 --> 00:18:07.909 align:start position:0% thing so first thing is next year hopefully<00:18:06.360> a<00:18:06.660> fingers<00:18:07.020> crossed 00:18:07.909 --> 00:18:07.919 align:start position:0% hopefully a fingers crossed 00:18:07.919 --> 00:18:10.070 align:start position:0% hopefully a fingers crossed um looking<00:18:08.160> good<00:18:08.400> I<00:18:08.760> have<00:18:08.940> to<00:18:09.120> say<00:18:09.240> uh 00:18:10.070 --> 00:18:10.080 align:start position:0% um looking good I have to say uh 00:18:10.080 --> 00:18:13.070 align:start position:0% um looking good I have to say uh prototype<00:18:10.620> starting<00:18:10.880> erp4844<00:18:11.880> that<00:18:12.840> we've 00:18:13.070 --> 00:18:13.080 align:start position:0% prototype starting erp4844 that we've 00:18:13.080 --> 00:18:14.510 align:start position:0% prototype starting erp4844 that we've been<00:18:13.200> really<00:18:13.440> actively<00:18:13.860> working<00:18:14.100> on<00:18:14.280> just 00:18:14.510 --> 00:18:14.520 align:start position:0% been really actively working on just 00:18:14.520 --> 00:18:16.130 align:start position:0% been really actively working on just earlier<00:18:14.880> today<00:18:15.000> there<00:18:15.299> was<00:18:15.419> there<00:18:15.660> was<00:18:16.020> a 00:18:16.130 --> 00:18:16.140 align:start position:0% earlier today there was there was a 00:18:16.140 --> 00:18:17.690 align:start position:0% earlier today there was there was a session<00:18:16.260> on<00:18:16.440> this 00:18:17.690 --> 00:18:17.700 align:start position:0% session on this 00:18:17.700 --> 00:18:20.630 align:start position:0% session on this um<00:18:17.820> where<00:18:18.419> basically<00:18:18.840> uh<00:18:19.559> we<00:18:19.919> I<00:18:20.160> don't<00:18:20.460> know<00:18:20.520> if 00:18:20.630 --> 00:18:20.640 align:start position:0% um where basically uh we I don't know if 00:18:20.640 --> 00:18:22.370 align:start position:0% um where basically uh we I don't know if you<00:18:20.760> saw<00:18:20.940> that<00:18:21.059> but<00:18:21.179> like<00:18:21.360> the<00:18:21.480> data<00:18:21.840> pick<00:18:22.020> the 00:18:22.370 --> 00:18:22.380 align:start position:0% you saw that but like the data pick the 00:18:22.380 --> 00:18:24.169 align:start position:0% you saw that but like the data pick the data<00:18:22.620> symbol<00:18:22.919> there<00:18:23.100> just<00:18:23.340> become<00:18:23.520> became<00:18:24.000> way 00:18:24.169 --> 00:18:24.179 align:start position:0% data symbol there just become became way 00:18:24.179 --> 00:18:26.210 align:start position:0% data symbol there just become became way bigger<00:18:24.600> because<00:18:25.020> you<00:18:25.260> just<00:18:25.500> you<00:18:25.679> know<00:18:25.740> you<00:18:25.919> you 00:18:26.210 --> 00:18:26.220 align:start position:0% bigger because you just you know you you 00:18:26.220 --> 00:18:28.730 align:start position:0% bigger because you just you know you you add<00:18:26.700> better<00:18:26.880> data<00:18:27.240> availability<00:18:27.620> to<00:18:28.620> the 00:18:28.730 --> 00:18:28.740 align:start position:0% add better data availability to the 00:18:28.740 --> 00:18:30.230 align:start position:0% add better data availability to the ethereum<00:18:29.100> chain<00:18:29.220> for<00:18:29.460> the<00:18:29.580> first<00:18:29.700> time<00:18:29.820> data 00:18:30.230 --> 00:18:30.240 align:start position:0% ethereum chain for the first time data 00:18:30.240 --> 00:18:32.270 align:start position:0% ethereum chain for the first time data availability<00:18:30.539> is<00:18:30.780> an<00:18:31.320> explicit<00:18:31.799> service<00:18:31.980> we 00:18:32.270 --> 00:18:32.280 align:start position:0% availability is an explicit service we 00:18:32.280 --> 00:18:34.010 align:start position:0% availability is an explicit service we provide<00:18:32.580> it's<00:18:33.059> not<00:18:33.179> just<00:18:33.360> something<00:18:33.539> tucked 00:18:34.010 --> 00:18:34.020 align:start position:0% provide it's not just something tucked 00:18:34.020 --> 00:18:35.510 align:start position:0% provide it's not just something tucked on<00:18:34.140> but<00:18:34.320> it's<00:18:34.500> an<00:18:34.620> explicit<00:18:35.039> service<00:18:35.160> and<00:18:35.400> so 00:18:35.510 --> 00:18:35.520 align:start position:0% on but it's an explicit service and so 00:18:35.520 --> 00:18:37.190 align:start position:0% on but it's an explicit service and so it's<00:18:35.700> just<00:18:35.880> more<00:18:36.299> effective 00:18:37.190 --> 00:18:37.200 align:start position:0% it's just more effective 00:18:37.200 --> 00:18:40.130 align:start position:0% it's just more effective and<00:18:37.740> then<00:18:38.160> of<00:18:38.400> course<00:18:38.580> uh<00:18:39.480> you've<00:18:39.840> you've 00:18:40.130 --> 00:18:40.140 align:start position:0% and then of course uh you've you've 00:18:40.140 --> 00:18:41.450 align:start position:0% and then of course uh you've you've probably<00:18:40.260> all<00:18:40.440> heard<00:18:40.620> about<00:18:40.740> that<00:18:40.980> tongue 00:18:41.450 --> 00:18:41.460 align:start position:0% probably all heard about that tongue 00:18:41.460 --> 00:18:45.110 align:start position:0% probably all heard about that tongue sharding<00:18:41.880> soon<00:18:42.480> TM<00:18:43.160> afterwards<00:18:44.160> uh<00:18:44.940> that 00:18:45.110 --> 00:18:45.120 align:start position:0% sharding soon TM afterwards uh that 00:18:45.120 --> 00:18:46.850 align:start position:0% sharding soon TM afterwards uh that could<00:18:45.299> be<00:18:45.419> two<00:18:45.660> years<00:18:45.780> from<00:18:45.960> now<00:18:46.140> hopefully 00:18:46.850 --> 00:18:46.860 align:start position:0% could be two years from now hopefully 00:18:46.860 --> 00:18:48.529 align:start position:0% could be two years from now hopefully like<00:18:47.220> maybe<00:18:47.400> maybe<00:18:47.640> it'll<00:18:48.059> be<00:18:48.240> three<00:18:48.360> years 00:18:48.529 --> 00:18:48.539 align:start position:0% like maybe maybe it'll be three years 00:18:48.539 --> 00:18:50.390 align:start position:0% like maybe maybe it'll be three years but<00:18:48.780> but<00:18:49.080> soon 00:18:50.390 --> 00:18:50.400 align:start position:0% but but soon 00:18:50.400 --> 00:18:52.370 align:start position:0% but but soon um<00:18:50.580> uh<00:18:51.120> and<00:18:51.360> and<00:18:51.419> that's<00:18:51.720> really<00:18:51.840> where<00:18:52.080> we<00:18:52.260> get 00:18:52.370 --> 00:18:52.380 align:start position:0% um uh and and that's really where we get 00:18:52.380 --> 00:18:55.250 align:start position:0% um uh and and that's really where we get like<00:18:52.679> Ultra<00:18:53.340> scalable<00:18:53.760> data 00:18:55.250 --> 00:18:55.260 align:start position:0% like Ultra scalable data 00:18:55.260 --> 00:18:57.289 align:start position:0% like Ultra scalable data um<00:18:55.380> and<00:18:55.679> and<00:18:55.919> and<00:18:56.100> with<00:18:56.520> that<00:18:56.640> we<00:18:56.820> will<00:18:57.000> be<00:18:57.120> for 00:18:57.289 --> 00:18:57.299 align:start position:0% um and and and with that we will be for 00:18:57.299 --> 00:19:00.110 align:start position:0% um and and and with that we will be for the<00:18:57.480> basically<00:18:58.140> we<00:18:58.380> will<00:18:58.500> be<00:18:58.679> able<00:18:58.919> to<00:18:58.980> to 00:19:00.110 --> 00:19:00.120 align:start position:0% the basically we will be able to to 00:19:00.120 --> 00:19:02.390 align:start position:0% the basically we will be able to to um<00:19:00.179> to<00:19:00.660> host<00:19:00.840> multiple<00:19:01.440> of<00:19:01.620> these<00:19:01.919> really<00:19:02.100> high 00:19:02.390 --> 00:19:02.400 align:start position:0% um to host multiple of these really high 00:19:02.400 --> 00:19:04.130 align:start position:0% um to host multiple of these really high throughput<00:19:02.820> Roll-Ups<00:19:03.360> so<00:19:03.419> this<00:19:03.720> is<00:19:03.840> kind<00:19:04.020> of 00:19:04.130 --> 00:19:04.140 align:start position:0% throughput Roll-Ups so this is kind of 00:19:04.140 --> 00:19:05.870 align:start position:0% throughput Roll-Ups so this is kind of in<00:19:04.380> terms<00:19:04.620> of<00:19:04.679> scalability<00:19:05.220> this<00:19:05.640> is<00:19:05.700> really 00:19:05.870 --> 00:19:05.880 align:start position:0% in terms of scalability this is really 00:19:05.880 --> 00:19:07.549 align:start position:0% in terms of scalability this is really the<00:19:06.120> end<00:19:06.299> game 00:19:07.549 --> 00:19:07.559 align:start position:0% the end game 00:19:07.559 --> 00:19:09.770 align:start position:0% the end game um<00:19:07.679> that<00:19:08.100> that<00:19:08.220> we<00:19:08.640> as<00:19:08.820> ethereum<00:19:09.360> basically 00:19:09.770 --> 00:19:09.780 align:start position:0% um that that we as ethereum basically 00:19:09.780 --> 00:19:12.169 align:start position:0% um that that we as ethereum basically are<00:19:10.020> are<00:19:10.260> aiming<00:19:10.919> for 00:19:12.169 --> 00:19:12.179 align:start position:0% are are aiming for 00:19:12.179 --> 00:19:15.230 align:start position:0% are are aiming for um<00:19:12.240> and<00:19:12.679> basically<00:19:13.679> kind<00:19:13.980> of<00:19:14.100> with<00:19:14.700> those 00:19:15.230 --> 00:19:15.240 align:start position:0% um and basically kind of with those 00:19:15.240 --> 00:19:16.669 align:start position:0% um and basically kind of with those pictures<00:19:15.480> in<00:19:15.780> mind<00:19:15.960> I<00:19:16.140> kind<00:19:16.260> of<00:19:16.320> wanted<00:19:16.440> to 00:19:16.669 --> 00:19:16.679 align:start position:0% pictures in mind I kind of wanted to 00:19:16.679 --> 00:19:18.830 align:start position:0% pictures in mind I kind of wanted to then<00:19:16.919> for<00:19:17.400> the<00:19:17.580> for<00:19:17.700> the<00:19:17.880> last<00:19:18.059> part<00:19:18.299> talk<00:19:18.660> a 00:19:18.830 --> 00:19:18.840 align:start position:0% then for the for the last part talk a 00:19:18.840 --> 00:19:21.049 align:start position:0% then for the for the last part talk a little<00:19:18.900> bit<00:19:19.020> about<00:19:19.520> where<00:19:20.520> does<00:19:20.700> this<00:19:20.880> leave 00:19:21.049 --> 00:19:21.059 align:start position:0% little bit about where does this leave 00:19:21.059 --> 00:19:23.630 align:start position:0% little bit about where does this leave us<00:19:21.299> like<00:19:21.660> this<00:19:21.960> I<00:19:22.380> I<00:19:22.559> hope<00:19:22.860> that<00:19:23.039> kind<00:19:23.340> of<00:19:23.460> gave 00:19:23.630 --> 00:19:23.640 align:start position:0% us like this I I hope that kind of gave 00:19:23.640 --> 00:19:26.029 align:start position:0% us like this I I hope that kind of gave it<00:19:23.820> like<00:19:23.940> intuition<00:19:24.419> wise<00:19:24.780> like<00:19:25.080> a<00:19:25.320> good<00:19:25.679> idea 00:19:26.029 --> 00:19:26.039 align:start position:0% it like intuition wise like a good idea 00:19:26.039 --> 00:19:28.310 align:start position:0% it like intuition wise like a good idea of<00:19:26.220> where<00:19:26.400> we're<00:19:26.820> moving<00:19:27.000> and<00:19:27.299> why<00:19:27.780> but<00:19:28.020> but 00:19:28.310 --> 00:19:28.320 align:start position:0% of where we're moving and why but but 00:19:28.320 --> 00:19:30.529 align:start position:0% of where we're moving and why but but what<00:19:28.740> implications<00:19:29.160> does<00:19:29.520> that<00:19:29.640> have<00:19:29.880> so<00:19:30.299> the 00:19:30.529 --> 00:19:30.539 align:start position:0% what implications does that have so the 00:19:30.539 --> 00:19:31.850 align:start position:0% what implications does that have so the first<00:19:30.660> first<00:19:30.960> thing<00:19:31.140> I<00:19:31.320> wanted<00:19:31.440> to<00:19:31.559> briefly 00:19:31.850 --> 00:19:31.860 align:start position:0% first first thing I wanted to briefly 00:19:31.860 --> 00:19:33.409 align:start position:0% first first thing I wanted to briefly talk<00:19:32.039> about<00:19:32.160> what<00:19:32.640> does<00:19:32.760> it<00:19:32.880> mean<00:19:33.000> for<00:19:33.179> the 00:19:33.409 --> 00:19:33.419 align:start position:0% talk about what does it mean for the 00:19:33.419 --> 00:19:35.390 align:start position:0% talk about what does it mean for the existing<00:19:33.780> well<00:19:34.260> it<00:19:34.559> one<00:19:34.799> we<00:19:34.980> used<00:19:35.100> to<00:19:35.220> call<00:19:35.340> it 00:19:35.390 --> 00:19:35.400 align:start position:0% existing well it one we used to call it 00:19:35.400 --> 00:19:37.130 align:start position:0% existing well it one we used to call it it<00:19:35.520> one<00:19:35.820> chain<00:19:36.000> like<00:19:36.299> basically<00:19:36.660> what<00:19:36.840> now<00:19:36.960> is 00:19:37.130 --> 00:19:37.140 align:start position:0% it one chain like basically what now is 00:19:37.140 --> 00:19:39.110 align:start position:0% it one chain like basically what now is the<00:19:37.620> execution<00:19:37.980> chain<00:19:38.220> with<00:19:38.460> within<00:19:39.000> the 00:19:39.110 --> 00:19:39.120 align:start position:0% the execution chain with within the 00:19:39.120 --> 00:19:41.330 align:start position:0% the execution chain with within the beacon<00:19:39.360> chain<00:19:39.620> what's<00:19:40.620> the<00:19:40.799> future<00:19:40.919> of<00:19:41.160> that 00:19:41.330 --> 00:19:41.340 align:start position:0% beacon chain what's the future of that 00:19:41.340 --> 00:19:43.549 align:start position:0% beacon chain what's the future of that and<00:19:42.000> um<00:19:42.059> they<00:19:42.299> are<00:19:42.480> basically<00:19:42.720> multiple 00:19:43.549 --> 00:19:43.559 align:start position:0% and um they are basically multiple 00:19:43.559 --> 00:19:44.990 align:start position:0% and um they are basically multiple different 00:19:44.990 --> 00:19:45.000 align:start position:0% different 00:19:45.000 --> 00:19:46.970 align:start position:0% different um<00:19:45.120> potential<00:19:45.840> future<00:19:46.140> Visions<00:19:46.559> for<00:19:46.740> it<00:19:46.860> that 00:19:46.970 --> 00:19:46.980 align:start position:0% um potential future Visions for it that 00:19:46.980 --> 00:19:48.409 align:start position:0% um potential future Visions for it that you<00:19:47.100> could<00:19:47.220> you<00:19:47.460> could<00:19:47.760> you<00:19:47.940> could<00:19:48.059> see<00:19:48.179> the 00:19:48.409 --> 00:19:48.419 align:start position:0% you could you could you could see the 00:19:48.419 --> 00:19:50.270 align:start position:0% you could you could you could see the first<00:19:48.539> one<00:19:48.720> would<00:19:48.900> be<00:19:49.020> that<00:19:49.260> you<00:19:49.440> it<00:19:49.980> basically 00:19:50.270 --> 00:19:50.280 align:start position:0% first one would be that you it basically 00:19:50.280 --> 00:19:52.549 align:start position:0% first one would be that you it basically stays<00:19:50.700> this<00:19:51.059> hybrid<00:19:51.539> execution<00:19:52.080> settlement 00:19:52.549 --> 00:19:52.559 align:start position:0% stays this hybrid execution settlement 00:19:52.559 --> 00:19:54.350 align:start position:0% stays this hybrid execution settlement chain<00:19:52.919> or<00:19:53.220> the<00:19:53.340> roll-up<00:19:53.580> settle<00:19:53.940> on<00:19:54.000> top<00:19:54.120> of<00:19:54.240> it 00:19:54.350 --> 00:19:54.360 align:start position:0% chain or the roll-up settle on top of it 00:19:54.360 --> 00:19:56.870 align:start position:0% chain or the roll-up settle on top of it but<00:19:54.600> also<00:19:54.960> still<00:19:55.620> you<00:19:55.980> know<00:19:56.100> it<00:19:56.280> has<00:19:56.640> some 00:19:56.870 --> 00:19:56.880 align:start position:0% but also still you know it has some 00:19:56.880 --> 00:19:59.090 align:start position:0% but also still you know it has some default<00:19:57.360> on<00:19:57.419> it<00:19:57.539> whatever<00:19:57.900> for<00:19:58.679> high<00:19:58.919> value 00:19:59.090 --> 00:19:59.100 align:start position:0% default on it whatever for high value 00:19:59.100 --> 00:20:00.590 align:start position:0% default on it whatever for high value transaction<00:19:59.520> it<00:19:59.760> can<00:19:59.880> still<00:20:00.000> be<00:20:00.120> used<00:20:00.240> as<00:20:00.419> an 00:20:00.590 --> 00:20:00.600 align:start position:0% transaction it can still be used as an 00:20:00.600 --> 00:20:02.630 align:start position:0% transaction it can still be used as an execution<00:20:00.960> chain<00:20:01.200> so<00:20:01.440> that<00:20:01.559> would<00:20:01.740> be<00:20:01.980> kind<00:20:02.520> of 00:20:02.630 --> 00:20:02.640 align:start position:0% execution chain so that would be kind of 00:20:02.640 --> 00:20:04.970 align:start position:0% execution chain so that would be kind of the<00:20:02.820> default<00:20:03.179> case 00:20:04.970 --> 00:20:04.980 align:start position:0% the default case 00:20:04.980 --> 00:20:06.409 align:start position:0% the default case um<00:20:05.100> then<00:20:05.340> we<00:20:05.520> we<00:20:05.700> could<00:20:05.880> we<00:20:06.059> could<00:20:06.179> have<00:20:06.299> the 00:20:06.409 --> 00:20:06.419 align:start position:0% um then we we could we could have the 00:20:06.419 --> 00:20:08.150 align:start position:0% um then we we could we could have the scenario<00:20:06.780> where<00:20:06.960> it<00:20:07.140> really<00:20:07.320> turns<00:20:07.740> over<00:20:07.860> time 00:20:08.150 --> 00:20:08.160 align:start position:0% scenario where it really turns over time 00:20:08.160 --> 00:20:10.909 align:start position:0% scenario where it really turns over time one<00:20:08.400> more<00:20:08.640> primarily<00:20:09.179> into<00:20:09.419> a<00:20:09.919> pure 00:20:10.909 --> 00:20:10.919 align:start position:0% one more primarily into a pure 00:20:10.919 --> 00:20:12.409 align:start position:0% one more primarily into a pure settlement<00:20:11.340> chain<00:20:11.580> so<00:20:11.820> that<00:20:11.940> means<00:20:12.240> that 00:20:12.409 --> 00:20:12.419 align:start position:0% settlement chain so that means that 00:20:12.419 --> 00:20:13.909 align:start position:0% settlement chain so that means that really<00:20:12.840> more<00:20:13.140> and<00:20:13.320> more<00:20:13.500> of<00:20:13.559> the<00:20:13.679> user 00:20:13.909 --> 00:20:13.919 align:start position:0% really more and more of the user 00:20:13.919 --> 00:20:15.770 align:start position:0% really more and more of the user activity<00:20:14.160> migrates<00:20:14.580> layer<00:20:14.940> twos<00:20:15.179> and<00:20:15.419> and 00:20:15.770 --> 00:20:15.780 align:start position:0% activity migrates layer twos and and 00:20:15.780 --> 00:20:18.650 align:start position:0% activity migrates layer twos and and layer<00:20:16.140> one<00:20:16.260> is<00:20:16.440> really<00:20:16.620> just<00:20:17.539> becoming<00:20:18.539> more 00:20:18.650 --> 00:20:18.660 align:start position:0% layer one is really just becoming more 00:20:18.660 --> 00:20:19.970 align:start position:0% layer one is really just becoming more more<00:20:18.840> just<00:20:19.020> just<00:20:19.320> a<00:20:19.500> rollout<00:20:19.799> management 00:20:19.970 --> 00:20:19.980 align:start position:0% more just just a rollout management 00:20:19.980 --> 00:20:22.190 align:start position:0% more just just a rollout management layer<00:20:20.460> and<00:20:21.000> then<00:20:21.059> the<00:20:21.240> third<00:20:21.360> one<00:20:21.539> it's<00:20:22.020> more 00:20:22.190 --> 00:20:22.200 align:start position:0% layer and then the third one it's more 00:20:22.200 --> 00:20:24.350 align:start position:0% layer and then the third one it's more like<00:20:22.380> a<00:20:22.500> fun<00:20:22.679> thought<00:20:22.919> experiment<00:20:23.460> it's<00:20:24.000> not 00:20:24.350 --> 00:20:24.360 align:start position:0% like a fun thought experiment it's not 00:20:24.360 --> 00:20:25.850 align:start position:0% like a fun thought experiment it's not really<00:20:24.539> kind<00:20:24.840> of<00:20:24.960> planned<00:20:25.260> or<00:20:25.380> anything<00:20:25.500> but 00:20:25.850 --> 00:20:25.860 align:start position:0% really kind of planned or anything but 00:20:25.860 --> 00:20:27.409 align:start position:0% really kind of planned or anything but just<00:20:26.280> wanted<00:20:26.400> to<00:20:26.580> kind<00:20:26.760> of<00:20:26.820> illustrate<00:20:27.179> how 00:20:27.409 --> 00:20:27.419 align:start position:0% just wanted to kind of illustrate how 00:20:27.419 --> 00:20:29.630 align:start position:0% just wanted to kind of illustrate how this<00:20:27.539> modular<00:20:28.280> architecture<00:20:29.280> is<00:20:29.460> really 00:20:29.630 --> 00:20:29.640 align:start position:0% this modular architecture is really 00:20:29.640 --> 00:20:31.909 align:start position:0% this modular architecture is really lends<00:20:30.240> itself<00:20:30.419> to<00:20:30.780> to<00:20:31.020> all<00:20:31.200> these<00:20:31.440> these 00:20:31.909 --> 00:20:31.919 align:start position:0% lends itself to to all these these 00:20:31.919 --> 00:20:33.950 align:start position:0% lends itself to to all these these different<00:20:32.280> different<00:20:32.580> ideas<00:20:32.940> what<00:20:33.660> we<00:20:33.840> could 00:20:33.950 --> 00:20:33.960 align:start position:0% different different ideas what we could 00:20:33.960 --> 00:20:36.590 align:start position:0% different different ideas what we could also<00:20:34.200> do<00:20:34.320> is<00:20:34.500> that<00:20:34.740> we<00:20:34.919> could<00:20:35.100> uh<00:20:36.000> it<00:20:36.240> basically 00:20:36.590 --> 00:20:36.600 align:start position:0% also do is that we could uh it basically 00:20:36.600 --> 00:20:39.350 align:start position:0% also do is that we could uh it basically add<00:20:37.380> in<00:20:37.740> an<00:20:37.980> additional<00:20:38.400> separate<00:20:38.880> set<00:20:39.120> of 00:20:39.350 --> 00:20:39.360 align:start position:0% add in an additional separate set of 00:20:39.360 --> 00:20:41.750 align:start position:0% add in an additional separate set of pure<00:20:39.600> settlement<00:20:40.020> chain<00:20:40.260> to<00:20:40.740> to<00:20:40.980> the<00:20:41.400> beacon 00:20:41.750 --> 00:20:41.760 align:start position:0% pure settlement chain to to the beacon 00:20:41.760 --> 00:20:45.049 align:start position:0% pure settlement chain to to the beacon chain<00:20:42.000> and<00:20:42.660> turn<00:20:42.840> is<00:20:43.140> one<00:20:43.559> basically<00:20:44.400> into<00:20:44.640> a 00:20:45.049 --> 00:20:45.059 align:start position:0% chain and turn is one basically into a 00:20:45.059 --> 00:20:47.210 align:start position:0% chain and turn is one basically into a well<00:20:45.660> you<00:20:45.900> would<00:20:46.020> say<00:20:46.140> you<00:20:46.740> could<00:20:46.860> say<00:20:46.980> a<00:20:47.160> roll 00:20:47.210 --> 00:20:47.220 align:start position:0% well you would say you could say a roll 00:20:47.220 --> 00:20:49.070 align:start position:0% well you would say you could say a roll up<00:20:47.460> right<00:20:47.580> so<00:20:47.760> in<00:20:48.000> this<00:20:48.120> case<00:20:48.240> if<00:20:48.660> you<00:20:48.720> if<00:20:48.960> you 00:20:49.070 --> 00:20:49.080 align:start position:0% up right so in this case if you if you 00:20:49.080 --> 00:20:50.450 align:start position:0% up right so in this case if you if you look<00:20:49.140> at<00:20:49.260> that<00:20:49.380> picture<00:20:49.559> you<00:20:50.220> could<00:20:50.280> just 00:20:50.450 --> 00:20:50.460 align:start position:0% look at that picture you could just 00:20:50.460 --> 00:20:51.950 align:start position:0% look at that picture you could just think<00:20:50.700> of<00:20:50.880> you<00:20:51.120> know<00:20:51.179> like<00:20:51.360> one<00:20:51.539> of<00:20:51.660> those<00:20:51.780> roll 00:20:51.950 --> 00:20:51.960 align:start position:0% think of you know like one of those roll 00:20:51.960 --> 00:20:54.470 align:start position:0% think of you know like one of those roll ups<00:20:52.320> being<00:20:52.440> it<00:20:52.740> one<00:20:52.980> so<00:20:53.220> that's<00:20:53.520> again<00:20:54.179> I<00:20:54.360> don't 00:20:54.470 --> 00:20:54.480 align:start position:0% ups being it one so that's again I don't 00:20:54.480 --> 00:20:55.789 align:start position:0% ups being it one so that's again I don't I<00:20:54.660> don't<00:20:54.780> think<00:20:54.900> that's<00:20:55.080> likely<00:20:55.440> that<00:20:55.620> that 00:20:55.789 --> 00:20:55.799 align:start position:0% I don't think that's likely that that 00:20:55.799 --> 00:20:58.250 align:start position:0% I don't think that's likely that that we'll<00:20:56.039> go<00:20:56.280> that<00:20:56.400> way<00:20:56.580> but<00:20:56.880> you<00:20:57.419> know<00:20:57.539> it<00:20:58.140> would 00:20:58.250 --> 00:20:58.260 align:start position:0% we'll go that way but you know it would 00:20:58.260 --> 00:21:00.350 align:start position:0% we'll go that way but you know it would be<00:20:58.440> almost<00:20:58.980> I<00:20:59.280> don't<00:20:59.580> want<00:20:59.700> to<00:20:59.760> say<00:20:59.880> trivially 00:21:00.350 --> 00:21:00.360 align:start position:0% be almost I don't want to say trivially 00:21:00.360 --> 00:21:02.930 align:start position:0% be almost I don't want to say trivially but<00:21:00.600> it<00:21:00.900> would<00:21:01.020> be<00:21:01.200> very<00:21:01.799> feasible<00:21:02.220> to<00:21:02.460> to<00:21:02.580> go 00:21:02.930 --> 00:21:02.940 align:start position:0% but it would be very feasible to to go 00:21:02.940 --> 00:21:04.909 align:start position:0% but it would be very feasible to to go that<00:21:03.059> route<00:21:03.240> because<00:21:03.539> we<00:21:03.780> now<00:21:03.960> live<00:21:04.679> in<00:21:04.799> this 00:21:04.909 --> 00:21:04.919 align:start position:0% that route because we now live in this 00:21:04.919 --> 00:21:07.909 align:start position:0% that route because we now live in this in<00:21:05.100> this<00:21:05.280> in<00:21:05.520> this<00:21:05.700> modular<00:21:06.480> World 00:21:07.909 --> 00:21:07.919 align:start position:0% in this in this modular World 00:21:07.919 --> 00:21:10.730 align:start position:0% in this in this modular World um<00:21:08.039> the<00:21:08.880> other<00:21:09.059> one<00:21:09.539> I<00:21:09.840> briefly<00:21:10.440> want<00:21:10.559> to<00:21:10.620> talk 00:21:10.730 --> 00:21:10.740 align:start position:0% um the other one I briefly want to talk 00:21:10.740 --> 00:21:14.990 align:start position:0% um the other one I briefly want to talk about<00:21:10.799> was<00:21:11.100> the<00:21:11.340> the<00:21:11.460> future<00:21:11.880> of<00:21:12.120> the<00:21:12.240> evm<00:21:13.200> so 00:21:14.990 --> 00:21:15.000 align:start position:0% about was the the future of the evm so 00:21:15.000 --> 00:21:18.350 align:start position:0% about was the the future of the evm so um<00:21:15.179> first<00:21:16.020> I<00:21:16.500> I<00:21:16.740> do<00:21:16.980> want<00:21:17.100> to<00:21:17.220> say<00:21:17.400> is<00:21:17.700> by<00:21:18.179> no 00:21:18.350 --> 00:21:18.360 align:start position:0% um first I I do want to say is by no 00:21:18.360 --> 00:21:20.510 align:start position:0% um first I I do want to say is by no means<00:21:18.660> certain<00:21:18.900> that<00:21:19.440> kind<00:21:19.799> of<00:21:19.919> the<00:21:20.039> future<00:21:20.280> of 00:21:20.510 --> 00:21:20.520 align:start position:0% means certain that kind of the future of 00:21:20.520 --> 00:21:22.130 align:start position:0% means certain that kind of the future of high<00:21:20.640> throughput<00:21:21.120> execution<00:21:21.480> chains<00:21:21.900> will<00:21:22.020> be 00:21:22.130 --> 00:21:22.140 align:start position:0% high throughput execution chains will be 00:21:22.140 --> 00:21:25.010 align:start position:0% high throughput execution chains will be VM<00:21:22.440> based<00:21:22.860> right<00:21:23.039> I<00:21:23.880> think<00:21:24.059> ethereum<00:21:24.600> as<00:21:24.840> the 00:21:25.010 --> 00:21:25.020 align:start position:0% VM based right I think ethereum as the 00:21:25.020 --> 00:21:27.350 align:start position:0% VM based right I think ethereum as the settlement<00:21:25.380> layer<00:21:25.740> will<00:21:25.919> will<00:21:26.340> always<00:21:26.700> use 00:21:27.350 --> 00:21:27.360 align:start position:0% settlement layer will will always use 00:21:27.360 --> 00:21:30.409 align:start position:0% settlement layer will will always use the<00:21:27.600> evm<00:21:27.960> I<00:21:28.559> think<00:21:28.679> it's<00:21:28.860> just<00:21:29.220> good<00:21:29.400> enough<00:21:29.640> uh 00:21:30.409 --> 00:21:30.419 align:start position:0% the evm I think it's just good enough uh 00:21:30.419 --> 00:21:33.890 align:start position:0% the evm I think it's just good enough uh for<00:21:30.600> for<00:21:30.900> that<00:21:31.260> and<00:21:32.640> but<00:21:33.240> it's<00:21:33.360> it's<00:21:33.539> not<00:21:33.780> not 00:21:33.890 --> 00:21:33.900 align:start position:0% for for that and but it's it's not not 00:21:33.900 --> 00:21:35.510 align:start position:0% for for that and but it's it's not not yet<00:21:34.140> decided<00:21:34.559> like<00:21:34.679> it<00:21:34.860> could<00:21:34.980> be<00:21:35.100> that<00:21:35.340> you 00:21:35.510 --> 00:21:35.520 align:start position:0% yet decided like it could be that you 00:21:35.520 --> 00:21:37.130 align:start position:0% yet decided like it could be that you know<00:21:35.640> I<00:21:35.880> don't<00:21:36.059> know<00:21:36.120> Solana<00:21:36.720> or<00:21:36.960> something 00:21:37.130 --> 00:21:37.140 align:start position:0% know I don't know Solana or something 00:21:37.140 --> 00:21:40.490 align:start position:0% know I don't know Solana or something has<00:21:37.440> the<00:21:37.679> Deep<00:21:37.919> dominant<00:21:38.460> uh<00:21:38.820> winning<00:21:39.500> highly 00:21:40.490 --> 00:21:40.500 align:start position:0% has the Deep dominant uh winning highly 00:21:40.500 --> 00:21:43.549 align:start position:0% has the Deep dominant uh winning highly scalable<00:21:40.919> uh<00:21:41.340> VM<00:21:42.059> um<00:21:42.120> uh<00:21:42.900> solution<00:21:43.200> it<00:21:43.440> could 00:21:43.549 --> 00:21:43.559 align:start position:0% scalable uh VM um uh solution it could 00:21:43.559 --> 00:21:45.289 align:start position:0% scalable uh VM um uh solution it could could<00:21:43.740> be<00:21:43.980> could<00:21:44.220> be<00:21:44.400> the<00:21:44.460> evm<00:21:44.820> it<00:21:45.000> could<00:21:45.120> be 00:21:45.289 --> 00:21:45.299 align:start position:0% could be could be the evm it could be 00:21:45.299 --> 00:21:47.390 align:start position:0% could be could be the evm it could be some<00:21:45.480> some<00:21:45.659> of<00:21:45.840> these<00:21:46.080> other<00:21:46.200> competing<00:21:47.280> um 00:21:47.390 --> 00:21:47.400 align:start position:0% some some of these other competing um 00:21:47.400 --> 00:21:50.029 align:start position:0% some some of these other competing um new<00:21:47.880> ones<00:21:48.240> this<00:21:49.020> is<00:21:49.080> yet<00:21:49.260> to<00:21:49.440> be<00:21:49.500> seen<00:21:49.679> I<00:21:49.919> mean 00:21:50.029 --> 00:21:50.039 align:start position:0% new ones this is yet to be seen I mean 00:21:50.039 --> 00:21:53.029 align:start position:0% new ones this is yet to be seen I mean we<00:21:50.520> are<00:21:51.120> very<00:21:51.299> optimistic<00:21:51.780> for<00:21:51.960> the<00:21:52.080> evm<00:21:52.440> in<00:21:52.860> in 00:21:53.029 --> 00:21:53.039 align:start position:0% we are very optimistic for the evm in in 00:21:53.039 --> 00:21:55.190 align:start position:0% we are very optimistic for the evm in in in<00:21:53.220> that<00:21:54.120> um<00:21:54.179> scenario<00:21:54.659> as<00:21:54.720> well<00:21:54.780> and<00:21:54.960> I<00:21:55.080> think 00:21:55.190 --> 00:21:55.200 align:start position:0% in that um scenario as well and I think 00:21:55.200 --> 00:21:56.750 align:start position:0% in that um scenario as well and I think I<00:21:55.500> do<00:21:55.620> want<00:21:55.799> to<00:21:55.919> point<00:21:56.039> out 00:21:56.750 --> 00:21:56.760 align:start position:0% I do want to point out 00:21:56.760 --> 00:21:58.370 align:start position:0% I do want to point out um because<00:21:57.179> that<00:21:57.480> sometimes<00:21:57.780> misunderstood 00:21:58.370 --> 00:21:58.380 align:start position:0% um because that sometimes misunderstood 00:21:58.380 --> 00:22:02.210 align:start position:0% um because that sometimes misunderstood uh<00:21:59.220> the<00:21:59.520> the<00:21:59.760> reason<00:22:00.120> why<00:22:00.900> ethereum<00:22:01.559> only<00:22:01.980> has 00:22:02.210 --> 00:22:02.220 align:start position:0% uh the the reason why ethereum only has 00:22:02.220 --> 00:22:05.390 align:start position:0% uh the the reason why ethereum only has the<00:22:02.460> limited<00:22:02.760> to<00:22:02.880> put<00:22:03.120> it<00:22:03.240> has<00:22:03.480> is<00:22:04.200> not<00:22:04.559> the<00:22:04.980> evm 00:22:05.390 --> 00:22:05.400 align:start position:0% the limited to put it has is not the evm 00:22:05.400 --> 00:22:06.830 align:start position:0% the limited to put it has is not the evm that's<00:22:05.580> not<00:22:05.760> the<00:22:05.940> limiting<00:22:06.480> factor<00:22:06.720> it's 00:22:06.830 --> 00:22:06.840 align:start position:0% that's not the limiting factor it's 00:22:06.840 --> 00:22:08.570 align:start position:0% that's not the limiting factor it's really<00:22:07.080> that<00:22:07.260> we<00:22:07.440> want<00:22:07.620> to<00:22:07.740> keep<00:22:07.980> the<00:22:08.220> resource 00:22:08.570 --> 00:22:08.580 align:start position:0% really that we want to keep the resource 00:22:08.580 --> 00:22:10.549 align:start position:0% really that we want to keep the resource requirements<00:22:09.000> for<00:22:09.179> validators<00:22:09.780> low<00:22:10.020> the<00:22:10.440> mom 00:22:10.549 --> 00:22:10.559 align:start position:0% requirements for validators low the mom 00:22:10.559 --> 00:22:12.649 align:start position:0% requirements for validators low the mom the<00:22:10.919> moment<00:22:11.100> you<00:22:11.280> are<00:22:11.400> a<00:22:11.520> roll<00:22:11.640> up<00:22:11.940> and<00:22:12.539> you 00:22:12.649 --> 00:22:12.659 align:start position:0% the moment you are a roll up and you 00:22:12.659 --> 00:22:14.690 align:start position:0% the moment you are a roll up and you adopt<00:22:13.080> the<00:22:13.140> evm<00:22:13.559> you<00:22:13.919> can<00:22:14.039> still<00:22:14.220> go<00:22:14.460> far 00:22:14.690 --> 00:22:14.700 align:start position:0% adopt the evm you can still go far 00:22:14.700 --> 00:22:16.970 align:start position:0% adopt the evm you can still go far beyond<00:22:15.059> the<00:22:15.240> throughput<00:22:15.720> constraints<00:22:16.620> of<00:22:16.860> the 00:22:16.970 --> 00:22:16.980 align:start position:0% beyond the throughput constraints of the 00:22:16.980 --> 00:22:18.950 align:start position:0% beyond the throughput constraints of the base<00:22:17.100> layer<00:22:17.520> and<00:22:18.059> so<00:22:18.240> and<00:22:18.419> there<00:22:18.720> are<00:22:18.840> many 00:22:18.950 --> 00:22:18.960 align:start position:0% base layer and so and there are many 00:22:18.960 --> 00:22:20.690 align:start position:0% base layer and so and there are many possible<00:22:19.320> evm<00:22:19.919> improvements<00:22:20.280> that<00:22:20.400> we<00:22:20.580> just 00:22:20.690 --> 00:22:20.700 align:start position:0% possible evm improvements that we just 00:22:20.700 --> 00:22:22.970 align:start position:0% possible evm improvements that we just never<00:22:20.880> bothered<00:22:21.480> to<00:22:21.600> do<00:22:21.780> on<00:22:22.440> the<00:22:22.559> base<00:22:22.679> layer 00:22:22.970 --> 00:22:22.980 align:start position:0% never bothered to do on the base layer 00:22:22.980 --> 00:22:24.649 align:start position:0% never bothered to do on the base layer because<00:22:23.100> the<00:22:23.400> data<00:22:23.760> is<00:22:23.820> not<00:22:23.940> relevant<00:22:24.299> for<00:22:24.480> us 00:22:24.649 --> 00:22:24.659 align:start position:0% because the data is not relevant for us 00:22:24.659 --> 00:22:26.810 align:start position:0% because the data is not relevant for us but<00:22:25.200> that<00:22:25.380> layer<00:22:25.679> twos<00:22:26.039> are<00:22:26.220> very<00:22:26.460> actively 00:22:26.810 --> 00:22:26.820 align:start position:0% but that layer twos are very actively 00:22:26.820 --> 00:22:28.370 align:start position:0% but that layer twos are very actively looking<00:22:27.000> into<00:22:27.240> it<00:22:27.419> so<00:22:27.600> I<00:22:27.840> think<00:22:27.960> there's<00:22:28.140> a 00:22:28.370 --> 00:22:28.380 align:start position:0% looking into it so I think there's a 00:22:28.380 --> 00:22:30.169 align:start position:0% looking into it so I think there's a very<00:22:28.440> good<00:22:28.679> chance<00:22:28.919> that<00:22:29.220> the<00:22:29.400> evm<00:22:29.760> will<00:22:30.000> turn 00:22:30.169 --> 00:22:30.179 align:start position:0% very good chance that the evm will turn 00:22:30.179 --> 00:22:32.450 align:start position:0% very good chance that the evm will turn out<00:22:30.360> to<00:22:30.480> be<00:22:30.780> to<00:22:31.020> be<00:22:31.200> like<00:22:31.440> the<00:22:31.919> winning<00:22:32.159> or<00:22:32.340> one 00:22:32.450 --> 00:22:32.460 align:start position:0% out to be to be like the winning or one 00:22:32.460 --> 00:22:36.950 align:start position:0% out to be to be like the winning or one of<00:22:32.520> the<00:22:32.580> evening<00:22:33.120> and<00:22:33.780> height<00:22:34.559> throughput<00:22:35.039> VMS 00:22:36.950 --> 00:22:36.960 align:start position:0% of the evening and height throughput VMS 00:22:36.960 --> 00:22:40.010 align:start position:0% of the evening and height throughput VMS um<00:22:37.080> yeah<00:22:37.799> and<00:22:38.039> and<00:22:38.220> but<00:22:38.760> but<00:22:38.940> of<00:22:39.240> course<00:22:39.419> uh 00:22:40.010 --> 00:22:40.020 align:start position:0% um yeah and and but but of course uh 00:22:40.020 --> 00:22:42.770 align:start position:0% um yeah and and but but of course uh whether<00:22:40.260> like<00:22:40.620> like<00:22:40.799> the<00:22:41.520> the<00:22:41.760> outcome<00:22:42.059> of<00:22:42.240> all 00:22:42.770 --> 00:22:42.780 align:start position:0% whether like like the the outcome of all 00:22:42.780 --> 00:22:44.690 align:start position:0% whether like like the the outcome of all of<00:22:42.900> this<00:22:43.080> process<00:22:43.559> will<00:22:44.100> have<00:22:44.280> like<00:22:44.460> big 00:22:44.690 --> 00:22:44.700 align:start position:0% of this process will have like big 00:22:44.700 --> 00:22:47.510 align:start position:0% of this process will have like big implications<00:22:45.600> that<00:22:46.080> clients<00:22:46.559> will<00:22:47.039> clients 00:22:47.510 --> 00:22:47.520 align:start position:0% implications that clients will clients 00:22:47.520 --> 00:22:49.730 align:start position:0% implications that clients will clients basically<00:22:47.880> say<00:22:48.360> the<00:22:48.600> existing<00:22:48.900> evm<00:22:49.440> clients 00:22:49.730 --> 00:22:49.740 align:start position:0% basically say the existing evm clients 00:22:49.740 --> 00:22:50.930 align:start position:0% basically say the existing evm clients will<00:22:49.860> they<00:22:50.039> be<00:22:50.159> primarily<00:22:50.580> settlement 00:22:50.930 --> 00:22:50.940 align:start position:0% will they be primarily settlement 00:22:50.940 --> 00:22:52.970 align:start position:0% will they be primarily settlement clients<00:22:51.360> only<00:22:51.900> or<00:22:52.260> will<00:22:52.380> they<00:22:52.559> also<00:22:52.799> be<00:22:52.860> used 00:22:52.970 --> 00:22:52.980 align:start position:0% clients only or will they also be used 00:22:52.980 --> 00:22:54.950 align:start position:0% clients only or will they also be used for<00:22:53.220> Roll-Ups<00:22:53.760> at<00:22:54.179> some<00:22:54.299> point<00:22:54.419> maybe<00:22:54.600> they'll 00:22:54.950 --> 00:22:54.960 align:start position:0% for Roll-Ups at some point maybe they'll 00:22:54.960 --> 00:22:57.049 align:start position:0% for Roll-Ups at some point maybe they'll want<00:22:55.140> to<00:22:55.260> focus<00:22:55.440> on<00:22:55.620> Roll-Ups<00:22:56.100> even 00:22:57.049 --> 00:22:57.059 align:start position:0% want to focus on Roll-Ups even 00:22:57.059 --> 00:22:58.310 align:start position:0% want to focus on Roll-Ups even um<00:22:57.179> how<00:22:57.419> does<00:22:57.659> that<00:22:57.840> look<00:22:58.020> like<00:22:58.140> for 00:22:58.310 --> 00:22:58.320 align:start position:0% um how does that look like for 00:22:58.320 --> 00:23:00.649 align:start position:0% um how does that look like for programming<00:22:58.919> languages<00:22:59.159> for<00:22:59.460> the<00:22:59.580> evm<00:23:00.000> uh 00:23:00.649 --> 00:23:00.659 align:start position:0% programming languages for the evm uh 00:23:00.659 --> 00:23:01.970 align:start position:0% programming languages for the evm uh whatever<00:23:01.020> tooling<00:23:01.500> all<00:23:01.620> these<00:23:01.799> kind<00:23:01.919> of 00:23:01.970 --> 00:23:01.980 align:start position:0% whatever tooling all these kind of 00:23:01.980 --> 00:23:03.230 align:start position:0% whatever tooling all these kind of things<00:23:02.100> right 00:23:03.230 --> 00:23:03.240 align:start position:0% things right 00:23:03.240 --> 00:23:04.370 align:start position:0% things right um so<00:23:03.419> I<00:23:03.539> think<00:23:03.659> this<00:23:03.780> is<00:23:03.960> this<00:23:04.140> is<00:23:04.260> going<00:23:04.320> to 00:23:04.370 --> 00:23:04.380 align:start position:0% um so I think this is this is going to 00:23:04.380 --> 00:23:06.649 align:start position:0% um so I think this is this is going to be<00:23:04.440> like<00:23:04.559> one<00:23:04.799> of<00:23:04.919> the<00:23:05.100> the<00:23:05.340> main<00:23:05.760> interesting 00:23:06.649 --> 00:23:06.659 align:start position:0% be like one of the the main interesting 00:23:06.659 --> 00:23:09.049 align:start position:0% be like one of the the main interesting kind<00:23:06.960> of<00:23:07.080> technological<00:23:07.980> debates<00:23:08.700> of<00:23:08.940> the 00:23:09.049 --> 00:23:09.059 align:start position:0% kind of technological debates of the 00:23:09.059 --> 00:23:10.669 align:start position:0% kind of technological debates of the next<00:23:09.179> five<00:23:09.419> years 00:23:10.669 --> 00:23:10.679 align:start position:0% next five years 00:23:10.679 --> 00:23:12.350 align:start position:0% next five years um and<00:23:11.039> in<00:23:11.100> particular<00:23:11.460> I<00:23:11.580> wanted<00:23:11.760> to<00:23:11.940> briefly 00:23:12.350 --> 00:23:12.360 align:start position:0% um and in particular I wanted to briefly 00:23:12.360 --> 00:23:14.810 align:start position:0% um and in particular I wanted to briefly very<00:23:13.320> briefly<00:23:13.620> talk<00:23:13.860> about<00:23:13.919> evm<00:23:14.340> equivalents 00:23:14.810 --> 00:23:14.820 align:start position:0% very briefly talk about evm equivalents 00:23:14.820 --> 00:23:16.310 align:start position:0% very briefly talk about evm equivalents because<00:23:14.880> that's<00:23:15.059> just<00:23:15.240> a<00:23:15.419> topic<00:23:15.720> that<00:23:15.960> I<00:23:16.140> I 00:23:16.310 --> 00:23:16.320 align:start position:0% because that's just a topic that I I 00:23:16.320 --> 00:23:18.649 align:start position:0% because that's just a topic that I I personally<00:23:16.679> am<00:23:16.860> really<00:23:17.460> interested<00:23:17.760> in<00:23:17.940> so 00:23:18.649 --> 00:23:18.659 align:start position:0% personally am really interested in so 00:23:18.659 --> 00:23:21.350 align:start position:0% personally am really interested in so for<00:23:19.559> these<00:23:19.980> layer<00:23:20.400> two<00:23:20.520> layer<00:23:20.880> Twos<00:23:21.120> for<00:23:21.240> these 00:23:21.350 --> 00:23:21.360 align:start position:0% for these layer two layer Twos for these 00:23:21.360 --> 00:23:23.409 align:start position:0% for these layer two layer Twos for these Roll-Ups<00:23:21.840> that<00:23:22.020> choose<00:23:22.320> to<00:23:22.500> go<00:23:22.620> with<00:23:22.799> the<00:23:22.919> evm 00:23:23.409 --> 00:23:23.419 align:start position:0% Roll-Ups that choose to go with the evm 00:23:23.419 --> 00:23:27.230 align:start position:0% Roll-Ups that choose to go with the evm and<00:23:24.419> the<00:23:25.260> question<00:23:25.380> is<00:23:25.679> do<00:23:26.340> they<00:23:26.520> go<00:23:26.700> with<00:23:26.940> the 00:23:27.230 --> 00:23:27.240 align:start position:0% and the question is do they go with the 00:23:27.240 --> 00:23:29.510 align:start position:0% and the question is do they go with the the<00:23:27.600> the<00:23:27.720> exact<00:23:28.380> evm<00:23:28.799> or<00:23:28.919> do<00:23:29.100> they<00:23:29.220> just<00:23:29.340> go 00:23:29.510 --> 00:23:29.520 align:start position:0% the the exact evm or do they just go 00:23:29.520 --> 00:23:31.190 align:start position:0% the the exact evm or do they just go with<00:23:29.700> something<00:23:29.940> that<00:23:30.240> looks<00:23:30.659> kind<00:23:30.900> of<00:23:31.020> like 00:23:31.190 --> 00:23:31.200 align:start position:0% with something that looks kind of like 00:23:31.200 --> 00:23:33.049 align:start position:0% with something that looks kind of like pvm<00:23:31.740> right<00:23:31.919> and<00:23:32.100> if<00:23:32.340> you<00:23:32.460> remember<00:23:32.640> say 00:23:33.049 --> 00:23:33.059 align:start position:0% pvm right and if you remember say 00:23:33.059 --> 00:23:34.730 align:start position:0% pvm right and if you remember say optimism<00:23:33.539> for<00:23:33.780> example<00:23:34.020> they<00:23:34.260> started<00:23:34.559> out 00:23:34.730 --> 00:23:34.740 align:start position:0% optimism for example they started out 00:23:34.740 --> 00:23:36.789 align:start position:0% optimism for example they started out with<00:23:34.980> what<00:23:35.159> they<00:23:35.220> call<00:23:35.400> the<00:23:35.700> Optimus 00:23:36.789 --> 00:23:36.799 align:start position:0% with what they call the Optimus 00:23:36.799 --> 00:23:38.630 align:start position:0% with what they call the Optimus optimism<00:23:37.799> virtual<00:23:38.100> machine<00:23:38.280> or<00:23:38.460> something 00:23:38.630 --> 00:23:38.640 align:start position:0% optimism virtual machine or something 00:23:38.640 --> 00:23:40.789 align:start position:0% optimism virtual machine or something OBM<00:23:39.240> which<00:23:39.600> was<00:23:39.780> basically<00:23:40.080> an<00:23:40.260> Adaptive 00:23:40.789 --> 00:23:40.799 align:start position:0% OBM which was basically an Adaptive 00:23:40.799 --> 00:23:42.230 align:start position:0% OBM which was basically an Adaptive version<00:23:40.980> of<00:23:41.159> the<00:23:41.220> evm<00:23:41.580> and<00:23:41.700> now<00:23:41.820> they're<00:23:42.000> back 00:23:42.230 --> 00:23:42.240 align:start position:0% version of the evm and now they're back 00:23:42.240 --> 00:23:44.510 align:start position:0% version of the evm and now they're back at<00:23:42.360> using<00:23:42.720> basically<00:23:43.020> the<00:23:43.500> EVMS<00:23:43.980> is<00:23:44.159> so<00:23:44.400> the 00:23:44.510 --> 00:23:44.520 align:start position:0% at using basically the EVMS is so the 00:23:44.520 --> 00:23:47.149 align:start position:0% at using basically the EVMS is so the question<00:23:44.700> is<00:23:44.940> in<00:23:45.600> the<00:23:45.780> long<00:23:45.900> run<00:23:46.080> what<00:23:46.799> what<00:23:46.980> is 00:23:47.149 --> 00:23:47.159 align:start position:0% question is in the long run what what is 00:23:47.159 --> 00:23:48.529 align:start position:0% question is in the long run what what is the<00:23:47.220> way<00:23:47.340> to<00:23:47.460> go<00:23:47.580> should<00:23:47.820> you<00:23:47.940> go<00:23:48.059> with<00:23:48.179> evm 00:23:48.529 --> 00:23:48.539 align:start position:0% the way to go should you go with evm 00:23:48.539 --> 00:23:50.390 align:start position:0% the way to go should you go with evm equivalents<00:23:49.020> or<00:23:49.140> not<00:23:49.260> and<00:23:49.679> so<00:23:49.799> just<00:23:50.100> briefly 00:23:50.390 --> 00:23:50.400 align:start position:0% equivalents or not and so just briefly 00:23:50.400 --> 00:23:52.549 align:start position:0% equivalents or not and so just briefly basically<00:23:50.700> the<00:23:50.880> pros<00:23:51.419> that<00:23:51.539> I<00:23:51.720> see<00:23:51.900> would<00:23:52.440> be 00:23:52.549 --> 00:23:52.559 align:start position:0% basically the pros that I see would be 00:23:52.559 --> 00:23:53.450 align:start position:0% basically the pros that I see would be of<00:23:52.740> course 00:23:53.450 --> 00:23:53.460 align:start position:0% of course 00:23:53.460 --> 00:23:56.090 align:start position:0% of course um<00:23:53.520> standardization<00:23:54.240> right<00:23:54.600> like<00:23:54.900> if<00:23:55.260> if<00:23:55.559> you 00:23:56.090 --> 00:23:56.100 align:start position:0% um standardization right like if if you 00:23:56.100 --> 00:23:57.649 align:start position:0% um standardization right like if if you use<00:23:56.220> the<00:23:56.340> evm<00:23:56.640> just<00:23:56.820> all<00:23:57.059> the<00:23:57.179> tooling<00:23:57.419> works 00:23:57.649 --> 00:23:57.659 align:start position:0% use the evm just all the tooling works 00:23:57.659 --> 00:23:59.149 align:start position:0% use the evm just all the tooling works out<00:23:57.780> of<00:23:57.900> the<00:23:57.960> box<00:23:58.080> you<00:23:58.679> have<00:23:58.799> multiple 00:23:59.149 --> 00:23:59.159 align:start position:0% out of the box you have multiple 00:23:59.159 --> 00:24:00.890 align:start position:0% out of the box you have multiple existing<00:23:59.520> client<00:23:59.760> implementations<00:24:00.299> which 00:24:00.890 --> 00:24:00.900 align:start position:0% existing client implementations which 00:24:00.900 --> 00:24:02.630 align:start position:0% existing client implementations which again<00:24:01.140> for<00:24:01.440> security<00:24:01.620> having<00:24:02.159> multiple 00:24:02.630 --> 00:24:02.640 align:start position:0% again for security having multiple 00:24:02.640 --> 00:24:05.630 align:start position:0% again for security having multiple clients<00:24:03.000> is<00:24:03.240> just<00:24:03.539> really<00:24:04.020> really<00:24:04.320> uh<00:24:05.280> helpful 00:24:05.630 --> 00:24:05.640 align:start position:0% clients is just really really uh helpful 00:24:05.640 --> 00:24:07.430 align:start position:0% clients is just really really uh helpful but<00:24:06.000> also<00:24:06.240> really<00:24:06.419> hard<00:24:06.600> to<00:24:06.780> achieve<00:24:07.080> so<00:24:07.260> this 00:24:07.430 --> 00:24:07.440 align:start position:0% but also really hard to achieve so this 00:24:07.440 --> 00:24:08.870 align:start position:0% but also really hard to achieve so this is<00:24:07.559> like<00:24:07.740> a<00:24:07.860> big<00:24:07.980> win<00:24:08.159> you<00:24:08.400> can<00:24:08.520> you<00:24:08.640> can<00:24:08.760> get 00:24:08.870 --> 00:24:08.880 align:start position:0% is like a big win you can you can get 00:24:08.880 --> 00:24:11.870 align:start position:0% is like a big win you can you can get with<00:24:09.059> evm<00:24:09.480> equivalence<00:24:09.980> and<00:24:10.980> this<00:24:11.640> the<00:24:11.820> the 00:24:11.870 --> 00:24:11.880 align:start position:0% with evm equivalence and this the the 00:24:11.880 --> 00:24:13.370 align:start position:0% with evm equivalence and this the the third<00:24:12.179> one<00:24:12.299> is<00:24:12.419> a<00:24:12.539> bit<00:24:12.600> more<00:24:12.720> speculative<00:24:13.080> but 00:24:13.370 --> 00:24:13.380 align:start position:0% third one is a bit more speculative but 00:24:13.380 --> 00:24:14.990 align:start position:0% third one is a bit more speculative but we<00:24:13.620> could<00:24:13.799> definitely<00:24:14.100> imagine<00:24:14.460> in<00:24:14.880> the 00:24:14.990 --> 00:24:15.000 align:start position:0% we could definitely imagine in the 00:24:15.000 --> 00:24:16.730 align:start position:0% we could definitely imagine in the future<00:24:15.120> that<00:24:15.539> we<00:24:16.080> have<00:24:16.200> some<00:24:16.440> sort<00:24:16.620> of 00:24:16.730 --> 00:24:16.740 align:start position:0% future that we have some sort of 00:24:16.740 --> 00:24:19.250 align:start position:0% future that we have some sort of specialized<00:24:17.580> settlement<00:24:18.260> functionality 00:24:19.250 --> 00:24:19.260 align:start position:0% specialized settlement functionality 00:24:19.260 --> 00:24:22.669 align:start position:0% specialized settlement functionality around<00:24:19.880> evm<00:24:20.880> that<00:24:21.120> we<00:24:21.419> offer<00:24:21.600> for<00:24:21.780> Roll-Ups<00:24:22.320> of 00:24:22.669 --> 00:24:22.679 align:start position:0% around evm that we offer for Roll-Ups of 00:24:22.679 --> 00:24:24.110 align:start position:0% around evm that we offer for Roll-Ups of course<00:24:22.740> that<00:24:22.980> would<00:24:23.100> not<00:24:23.220> be<00:24:23.400> mandatory<00:24:23.940> right 00:24:24.110 --> 00:24:24.120 align:start position:0% course that would not be mandatory right 00:24:24.120 --> 00:24:26.330 align:start position:0% course that would not be mandatory right if<00:24:24.360> you<00:24:24.480> want<00:24:24.600> to<00:24:24.720> run<00:24:24.840> your<00:24:25.020> own<00:24:25.200> like<00:24:25.620> fuel<00:24:26.100> or 00:24:26.330 --> 00:24:26.340 align:start position:0% if you want to run your own like fuel or 00:24:26.340 --> 00:24:27.950 align:start position:0% if you want to run your own like fuel or Solana<00:24:26.760> or<00:24:26.880> something<00:24:27.059> on<00:24:27.240> top<00:24:27.360> of<00:24:27.480> ethereum 00:24:27.950 --> 00:24:27.960 align:start position:0% Solana or something on top of ethereum 00:24:27.960 --> 00:24:29.090 align:start position:0% Solana or something on top of ethereum you<00:24:28.140> can<00:24:28.200> do<00:24:28.320> that<00:24:28.440> as<00:24:28.559> well<00:24:28.620> but<00:24:28.799> we<00:24:28.980> would 00:24:29.090 --> 00:24:29.100 align:start position:0% you can do that as well but we would 00:24:29.100 --> 00:24:30.950 align:start position:0% you can do that as well but we would have<00:24:29.280> special<00:24:29.520> special<00:24:30.120> support<00:24:30.480> for<00:24:30.720> for 00:24:30.950 --> 00:24:30.960 align:start position:0% have special special support for for 00:24:30.960 --> 00:24:34.370 align:start position:0% have special special support for for these<00:24:31.260> evm<00:24:31.799> based<00:24:32.159> ones<00:24:32.659> and<00:24:33.659> one<00:24:34.080> really 00:24:34.370 --> 00:24:34.380 align:start position:0% these evm based ones and one really 00:24:34.380 --> 00:24:35.570 align:start position:0% these evm based ones and one really interesting<00:24:34.679> one<00:24:34.860> especially<00:24:35.159> I<00:24:35.340> think<00:24:35.460> in 00:24:35.570 --> 00:24:35.580 align:start position:0% interesting one especially I think in 00:24:35.580 --> 00:24:37.850 align:start position:0% interesting one especially I think in the<00:24:35.700> last<00:24:35.820> few<00:24:36.020> months<00:24:37.020> people<00:24:37.380> have<00:24:37.679> more 00:24:37.850 --> 00:24:37.860 align:start position:0% the last few months people have more 00:24:37.860 --> 00:24:39.470 align:start position:0% the last few months people have more noticed<00:24:38.340> how<00:24:38.460> governments<00:24:38.940> can<00:24:39.059> really<00:24:39.179> be<00:24:39.360> a 00:24:39.470 --> 00:24:39.480 align:start position:0% noticed how governments can really be a 00:24:39.480 --> 00:24:42.770 align:start position:0% noticed how governments can really be a liability<00:24:40.039> and<00:24:41.039> and<00:24:41.580> if<00:24:41.940> you<00:24:42.120> actually<00:24:42.299> follow 00:24:42.770 --> 00:24:42.780 align:start position:0% liability and and if you actually follow 00:24:42.780 --> 00:24:45.890 align:start position:0% liability and and if you actually follow the<00:24:43.020> evm<00:24:43.500> as<00:24:44.100> is<00:24:44.340> you<00:24:44.940> can<00:24:45.059> just<00:24:45.179> defer<00:24:45.539> to<00:24:45.659> to 00:24:45.890 --> 00:24:45.900 align:start position:0% the evm as is you can just defer to to 00:24:45.900 --> 00:24:48.049 align:start position:0% the evm as is you can just defer to to layer<00:24:46.260> one<00:24:46.860> um<00:24:46.919> governance<00:24:47.520> and<00:24:47.640> follow<00:24:47.820> their 00:24:48.049 --> 00:24:48.059 align:start position:0% layer one um governance and follow their 00:24:48.059 --> 00:24:50.029 align:start position:0% layer one um governance and follow their changes<00:24:48.480> basically<00:24:48.900> and<00:24:49.380> then<00:24:49.500> what<00:24:49.799> are<00:24:49.980> the 00:24:50.029 --> 00:24:50.039 align:start position:0% changes basically and then what are the 00:24:50.039 --> 00:24:51.409 align:start position:0% changes basically and then what are the what<00:24:50.220> are<00:24:50.340> the<00:24:50.460> cons 00:24:51.409 --> 00:24:51.419 align:start position:0% what are the cons 00:24:51.419 --> 00:24:54.590 align:start position:0% what are the cons um<00:24:51.840> um<00:24:52.220> why<00:24:53.220> might<00:24:53.400> you<00:24:53.520> not<00:24:53.820> want<00:24:53.940> that<00:24:54.179> well 00:24:54.590 --> 00:24:54.600 align:start position:0% um um why might you not want that well 00:24:54.600 --> 00:24:56.510 align:start position:0% um um why might you not want that well of<00:24:54.780> course<00:24:54.900> one<00:24:55.140> it's<00:24:55.500> just<00:24:55.679> like<00:24:55.980> if<00:24:56.159> you<00:24:56.280> if 00:24:56.510 --> 00:24:56.520 align:start position:0% of course one it's just like if you if 00:24:56.520 --> 00:24:58.310 align:start position:0% of course one it's just like if you if you're<00:24:56.700> if<00:24:56.880> you're<00:24:57.120> stuck<00:24:57.240> with<00:24:57.480> the<00:24:57.840> layer 00:24:58.310 --> 00:24:58.320 align:start position:0% you're if you're stuck with the layer 00:24:58.320 --> 00:25:00.890 align:start position:0% you're if you're stuck with the layer one<00:24:58.440> evm<00:24:58.980> that<00:24:59.760> does<00:24:59.940> come<00:25:00.179> at<00:25:00.360> a<00:25:00.480> cost<00:25:00.600> of 00:25:00.890 --> 00:25:00.900 align:start position:0% one evm that does come at a cost of 00:25:00.900 --> 00:25:02.810 align:start position:0% one evm that does come at a cost of slightly<00:25:01.380> slower<00:25:01.740> iteration<00:25:02.159> speed<00:25:02.400> right<00:25:02.640> we 00:25:02.810 --> 00:25:02.820 align:start position:0% slightly slower iteration speed right we 00:25:02.820 --> 00:25:04.669 align:start position:0% slightly slower iteration speed right we have<00:25:03.000> to<00:25:03.120> really<00:25:03.480> vet<00:25:03.840> every<00:25:04.200> change<00:25:04.500> that 00:25:04.669 --> 00:25:04.679 align:start position:0% have to really vet every change that 00:25:04.679 --> 00:25:07.010 align:start position:0% have to really vet every change that goes<00:25:04.919> into<00:25:04.980> the<00:25:05.220> VM<00:25:05.520> quite<00:25:06.000> severely<00:25:06.659> to<00:25:06.900> make 00:25:07.010 --> 00:25:07.020 align:start position:0% goes into the VM quite severely to make 00:25:07.020 --> 00:25:09.110 align:start position:0% goes into the VM quite severely to make sure<00:25:07.140> nothing<00:25:07.320> ever<00:25:07.559> breaks 00:25:09.110 --> 00:25:09.120 align:start position:0% sure nothing ever breaks 00:25:09.120 --> 00:25:11.390 align:start position:0% sure nothing ever breaks um<00:25:09.240> you<00:25:10.020> might<00:25:10.140> just<00:25:10.500> need<00:25:10.740> some<00:25:10.919> layer<00:25:11.280> two 00:25:11.390 --> 00:25:11.400 align:start position:0% um you might just need some layer two 00:25:11.400 --> 00:25:13.250 align:start position:0% um you might just need some layer two specific<00:25:11.700> functionality<00:25:12.179> it's<00:25:12.419> just<00:25:12.659> harder 00:25:13.250 --> 00:25:13.260 align:start position:0% specific functionality it's just harder 00:25:13.260 --> 00:25:14.450 align:start position:0% specific functionality it's just harder to<00:25:13.380> add<00:25:13.559> that 00:25:14.450 --> 00:25:14.460 align:start position:0% to add that 00:25:14.460 --> 00:25:15.770 align:start position:0% to add that um<00:25:14.520> if<00:25:14.820> you<00:25:14.880> really<00:25:15.000> don't<00:25:15.179> want<00:25:15.360> to<00:25:15.480> you<00:25:15.600> know 00:25:15.770 --> 00:25:15.780 align:start position:0% um if you really don't want to you know 00:25:15.780 --> 00:25:18.649 align:start position:0% um if you really don't want to you know kind<00:25:16.080> of<00:25:16.200> mess<00:25:16.320> mess<00:25:16.559> with<00:25:16.860> with<00:25:16.980> evm 00:25:18.649 --> 00:25:18.659 align:start position:0% kind of mess mess with with evm 00:25:18.659 --> 00:25:20.570 align:start position:0% kind of mess mess with with evm um<00:25:18.780> and<00:25:19.320> also<00:25:19.559> and<00:25:19.740> I<00:25:19.919> feel<00:25:20.039> like<00:25:20.159> that's<00:25:20.400> the 00:25:20.570 --> 00:25:20.580 align:start position:0% um and also and I feel like that's the 00:25:20.580 --> 00:25:22.070 align:start position:0% um and also and I feel like that's the one<00:25:20.820> that's<00:25:21.000> the<00:25:21.179> most<00:25:21.299> relevant<00:25:21.600> in<00:25:21.780> the 00:25:22.070 --> 00:25:22.080 align:start position:0% one that's the most relevant in the 00:25:22.080 --> 00:25:24.169 align:start position:0% one that's the most relevant in the context<00:25:22.320> of<00:25:22.440> my<00:25:22.559> talk<00:25:22.740> here<00:25:22.980> if<00:25:23.760> we<00:25:23.940> expect 00:25:24.169 --> 00:25:24.179 align:start position:0% context of my talk here if we expect 00:25:24.179 --> 00:25:25.909 align:start position:0% context of my talk here if we expect layer<00:25:24.659> one<00:25:24.779> and<00:25:24.900> layer<00:25:25.140> 2<00:25:25.260> to<00:25:25.440> really<00:25:25.559> operate 00:25:25.909 --> 00:25:25.919 align:start position:0% layer one and layer 2 to really operate 00:25:25.919 --> 00:25:27.769 align:start position:0% layer one and layer 2 to really operate at<00:25:26.100> quite<00:25:26.400> different<00:25:26.640> scales<00:25:27.419> in<00:25:27.539> terms<00:25:27.720> of 00:25:27.769 --> 00:25:27.779 align:start position:0% at quite different scales in terms of 00:25:27.779 --> 00:25:30.409 align:start position:0% at quite different scales in terms of throughput<00:25:28.140> maybe<00:25:28.799> having<00:25:29.100> identical<00:25:29.640> VMS<00:25:30.240> is 00:25:30.409 --> 00:25:30.419 align:start position:0% throughput maybe having identical VMS is 00:25:30.419 --> 00:25:32.870 align:start position:0% throughput maybe having identical VMS is just<00:25:30.659> not<00:25:30.960> the<00:25:31.200> the<00:25:31.500> ideal<00:25:31.799> way<00:25:31.980> to<00:25:32.220> to<00:25:32.520> to<00:25:32.640> to 00:25:32.870 --> 00:25:32.880 align:start position:0% just not the the ideal way to to to to 00:25:32.880 --> 00:25:35.930 align:start position:0% just not the the ideal way to to to to to<00:25:32.940> to<00:25:33.120> go<00:25:33.659> and<00:25:34.320> just<00:25:34.679> as<00:25:34.919> like<00:25:35.100> a<00:25:35.340> potential 00:25:35.930 --> 00:25:35.940 align:start position:0% to to go and just as like a potential 00:25:35.940 --> 00:25:37.610 align:start position:0% to to go and just as like a potential promise<00:25:36.480> you<00:25:36.720> or<00:25:36.900> having<00:25:37.020> the<00:25:37.200> Best<00:25:37.260> of<00:25:37.440> Both 00:25:37.610 --> 00:25:37.620 align:start position:0% promise you or having the Best of Both 00:25:37.620 --> 00:25:40.010 align:start position:0% promise you or having the Best of Both Worlds<00:25:38.039> idea<00:25:38.760> to<00:25:39.059> that<00:25:39.480> I<00:25:39.600> want<00:25:39.720> to<00:25:39.840> leave<00:25:39.900> you 00:25:40.010 --> 00:25:40.020 align:start position:0% Worlds idea to that I want to leave you 00:25:40.020 --> 00:25:42.529 align:start position:0% Worlds idea to that I want to leave you with<00:25:40.140> here<00:25:40.380> is<00:25:40.620> one<00:25:41.400> that<00:25:41.580> I<00:25:41.820> think<00:25:42.000> might 00:25:42.529 --> 00:25:42.539 align:start position:0% with here is one that I think might 00:25:42.539 --> 00:25:44.029 align:start position:0% with here is one that I think might actually<00:25:42.720> be<00:25:42.900> quite<00:25:43.080> exciting<00:25:43.500> to<00:25:43.620> explore<00:25:43.919> in 00:25:44.029 --> 00:25:44.039 align:start position:0% actually be quite exciting to explore in 00:25:44.039 --> 00:25:45.350 align:start position:0% actually be quite exciting to explore in the<00:25:44.159> future 00:25:45.350 --> 00:25:45.360 align:start position:0% the future 00:25:45.360 --> 00:25:48.110 align:start position:0% the future um<00:25:45.720> what<00:25:46.440> if<00:25:46.559> we<00:25:46.740> could<00:25:46.919> maybe<00:25:47.100> get<00:25:47.640> the<00:25:48.000> Best 00:25:48.110 --> 00:25:48.120 align:start position:0% um what if we could maybe get the Best 00:25:48.120 --> 00:25:51.470 align:start position:0% um what if we could maybe get the Best of<00:25:48.360> Both<00:25:48.600> Worlds<00:25:49.140> by<00:25:49.559> having<00:25:50.279> a<00:25:50.880> dedicated 00:25:51.470 --> 00:25:51.480 align:start position:0% of Both Worlds by having a dedicated 00:25:51.480 --> 00:25:54.649 align:start position:0% of Both Worlds by having a dedicated version<00:25:52.440> of<00:25:52.679> the<00:25:52.799> evm<00:25:53.220> specs<00:25:53.700> for<00:25:53.880> layer<00:25:54.299> twos 00:25:54.649 --> 00:25:54.659 align:start position:0% version of the evm specs for layer twos 00:25:54.659 --> 00:25:56.390 align:start position:0% version of the evm specs for layer twos that's<00:25:55.080> still<00:25:55.320> standardized<00:25:55.860> across<00:25:56.159> all<00:25:56.279> the 00:25:56.390 --> 00:25:56.400 align:start position:0% that's still standardized across all the 00:25:56.400 --> 00:25:59.029 align:start position:0% that's still standardized across all the Roll-Ups<00:25:56.820> that<00:25:56.880> want<00:25:57.120> you<00:25:57.480> know<00:25:57.600> to<00:25:57.779> opt<00:25:57.900> in 00:25:59.029 --> 00:25:59.039 align:start position:0% Roll-Ups that want you know to opt in 00:25:59.039 --> 00:26:01.070 align:start position:0% Roll-Ups that want you know to opt in um but<00:25:59.279> is<00:25:59.520> is<00:25:59.760> able<00:26:00.059> to<00:26:00.179> over<00:26:00.360> time<00:26:00.600> depart 00:26:01.070 --> 00:26:01.080 align:start position:0% um but is is able to over time depart 00:26:01.080 --> 00:26:03.230 align:start position:0% um but is is able to over time depart from<00:26:01.380> layer<00:26:01.799> one<00:26:01.919> and<00:26:02.100> really<00:26:02.520> focus<00:26:02.880> on<00:26:03.059> on 00:26:03.230 --> 00:26:03.240 align:start position:0% from layer one and really focus on on 00:26:03.240 --> 00:26:05.149 align:start position:0% from layer one and really focus on on optimize<00:26:03.720> for<00:26:03.960> the<00:26:04.200> layer<00:26:04.440> 2K<00:26:04.679> so<00:26:04.860> I<00:26:05.039> think 00:26:05.149 --> 00:26:05.159 align:start position:0% optimize for the layer 2K so I think 00:26:05.159 --> 00:26:07.310 align:start position:0% optimize for the layer 2K so I think there's<00:26:05.640> a<00:26:05.820> good<00:26:05.940> chance<00:26:06.120> that<00:26:06.360> we<00:26:06.539> might<00:26:06.779> end 00:26:07.310 --> 00:26:07.320 align:start position:0% there's a good chance that we might end 00:26:07.320 --> 00:26:09.169 align:start position:0% there's a good chance that we might end up<00:26:07.500> in<00:26:07.620> that<00:26:07.799> world<00:26:07.980> and<00:26:08.340> and<00:26:08.460> I<00:26:08.940> think<00:26:09.059> that 00:26:09.169 --> 00:26:09.179 align:start position:0% up in that world and and I think that 00:26:09.179 --> 00:26:10.970 align:start position:0% up in that world and and I think that that<00:26:09.419> might<00:26:09.600> actually<00:26:09.779> you<00:26:10.080> know<00:26:10.500> um<00:26:10.559> be<00:26:10.799> the 00:26:10.970 --> 00:26:10.980 align:start position:0% that might actually you know um be the 00:26:10.980 --> 00:26:13.549 align:start position:0% that might actually you know um be the be<00:26:11.220> the<00:26:11.880> best<00:26:12.000> way<00:26:12.059> to<00:26:12.240> get<00:26:12.659> us<00:26:12.779> to<00:26:12.960> to<00:26:13.080> High 00:26:13.549 --> 00:26:13.559 align:start position:0% be the best way to get us to to High 00:26:13.559 --> 00:26:14.690 align:start position:0% be the best way to get us to to High scalability 00:26:14.690 --> 00:26:14.700 align:start position:0% scalability 00:26:14.700 --> 00:26:16.250 align:start position:0% scalability um<00:26:14.760> and<00:26:14.940> yeah<00:26:15.059> and<00:26:15.240> I<00:26:15.419> think<00:26:15.480> I<00:26:15.720> hope<00:26:15.900> if<00:26:16.140> I 00:26:16.250 --> 00:26:16.260 align:start position:0% um and yeah and I think I hope if I 00:26:16.260 --> 00:26:17.690 align:start position:0% um and yeah and I think I hope if I remember<00:26:16.440> correctly<00:26:16.860> oh<00:26:17.039> I<00:26:17.220> do<00:26:17.520> have<00:26:17.640> a 00:26:17.690 --> 00:26:17.700 align:start position:0% remember correctly oh I do have a 00:26:17.700 --> 00:26:19.310 align:start position:0% remember correctly oh I do have a summary<00:26:18.000> slide<00:26:18.299> so<00:26:18.480> let<00:26:18.840> me<00:26:18.960> briefly<00:26:19.200> go 00:26:19.310 --> 00:26:19.320 align:start position:0% summary slide so let me briefly go 00:26:19.320 --> 00:26:21.289 align:start position:0% summary slide so let me briefly go through<00:26:19.440> that<00:26:19.620> but<00:26:19.799> then<00:26:19.980> then<00:26:20.220> we're<00:26:20.640> done<00:26:20.760> so 00:26:21.289 --> 00:26:21.299 align:start position:0% through that but then then we're done so 00:26:21.299 --> 00:26:23.149 align:start position:0% through that but then then we're done so you<00:26:21.539> know<00:26:21.659> traditional<00:26:22.140> uh<00:26:22.500> blockchains<00:26:23.100> you 00:26:23.149 --> 00:26:23.159 align:start position:0% you know traditional uh blockchains you 00:26:23.159 --> 00:26:24.470 align:start position:0% you know traditional uh blockchains you always<00:26:23.340> have<00:26:23.520> the<00:26:23.640> trade-off<00:26:24.179> between 00:26:24.470 --> 00:26:24.480 align:start position:0% always have the trade-off between 00:26:24.480 --> 00:26:27.470 align:start position:0% always have the trade-off between security<00:26:24.960> and<00:26:25.260> scalability<00:26:25.740> uh<00:26:26.640> Rob<00:26:26.940> solve 00:26:27.470 --> 00:26:27.480 align:start position:0% security and scalability uh Rob solve 00:26:27.480 --> 00:26:29.390 align:start position:0% security and scalability uh Rob solve this<00:26:27.600> ethereum's<00:26:28.500> Vision<00:26:28.679> we<00:26:28.919> want<00:26:29.039> to<00:26:29.159> become 00:26:29.390 --> 00:26:29.400 align:start position:0% this ethereum's Vision we want to become 00:26:29.400 --> 00:26:31.669 align:start position:0% this ethereum's Vision we want to become the<00:26:29.640> primary<00:26:29.940> settlement<00:26:30.419> chain<00:26:30.659> we're<00:26:31.500> still 00:26:31.669 --> 00:26:31.679 align:start position:0% the primary settlement chain we're still 00:26:31.679 --> 00:26:32.570 align:start position:0% the primary settlement chain we're still at<00:26:31.799> the<00:26:31.919> very<00:26:32.039> beginning<00:26:32.159> of<00:26:32.460> this 00:26:32.570 --> 00:26:32.580 align:start position:0% at the very beginning of this 00:26:32.580 --> 00:26:33.850 align:start position:0% at the very beginning of this transformation 00:26:33.850 --> 00:26:33.860 align:start position:0% transformation 00:26:33.860 --> 00:26:36.470 align:start position:0% transformation ethereum<00:26:34.860> well<00:26:35.279> likely<00:26:35.700> this<00:26:35.880> this<00:26:36.120> is<00:26:36.299> the 00:26:36.470 --> 00:26:36.480 align:start position:0% ethereum well likely this this is the 00:26:36.480 --> 00:26:38.750 align:start position:0% ethereum well likely this this is the last<00:26:36.600> point<00:26:36.900> I<00:26:37.559> I<00:26:37.740> had<00:26:37.980> the<00:26:38.159> likely<00:26:38.460> because 00:26:38.750 --> 00:26:38.760 align:start position:0% last point I I had the likely because 00:26:38.760 --> 00:26:41.630 align:start position:0% last point I I had the likely because who<00:26:39.360> knows<00:26:39.600> right<00:26:39.779> but<00:26:40.020> we<00:26:40.559> we<00:26:40.799> do<00:26:41.039> still<00:26:41.279> with 00:26:41.630 --> 00:26:41.640 align:start position:0% who knows right but we we do still with 00:26:41.640 --> 00:26:44.390 align:start position:0% who knows right but we we do still with the<00:26:41.820> evm<00:26:42.240> also<00:26:42.779> have<00:26:42.900> Ambitions<00:26:43.440> for<00:26:43.860> for 00:26:44.390 --> 00:26:44.400 align:start position:0% the evm also have Ambitions for for 00:26:44.400 --> 00:26:46.909 align:start position:0% the evm also have Ambitions for for execution<00:26:44.940> chains<00:26:45.299> we<00:26:45.419> do<00:26:45.600> not<00:26:45.779> just<00:26:46.500> want<00:26:46.740> to 00:26:46.909 --> 00:26:46.919 align:start position:0% execution chains we do not just want to 00:26:46.919 --> 00:26:48.890 align:start position:0% execution chains we do not just want to be<00:26:47.100> to<00:26:47.520> be<00:26:47.700> a<00:26:47.820> settlement<00:26:48.120> chain 00:26:48.890 --> 00:26:48.900 align:start position:0% be to be a settlement chain 00:26:48.900 --> 00:26:50.750 align:start position:0% be to be a settlement chain yeah<00:26:49.320> and<00:26:49.500> with<00:26:49.740> that 00:26:50.750 --> 00:26:50.760 align:start position:0% yeah and with that 00:26:50.760 --> 00:26:53.660 align:start position:0% yeah and with that um<00:26:50.820> thanks 00:26:53.660 --> 00:26:53.670 align:start position:0% 00:26:53.670 --> 00:26:58.660 align:start position:0% [Applause]