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 --> 00:00:13.129 align:start position:0% [Music] 00:00:13.129 --> 00:00:13.139 align:start position:0% 00:00:13.139 --> 00:00:14.990 align:start position:0% so<00:00:13.620> this<00:00:13.860> is<00:00:13.980> actually<00:00:14.160> not<00:00:14.519> the<00:00:14.759> first<00:00:14.820> time 00:00:14.990 --> 00:00:15.000 align:start position:0% so this is actually not the first time 00:00:15.000 --> 00:00:17.689 align:start position:0% so this is actually not the first time I've<00:00:15.179> given<00:00:15.420> this<00:00:15.599> talk<00:00:15.780> right<00:00:16.080> this<00:00:16.500> is<00:00:16.740> uh 00:00:17.689 --> 00:00:17.699 align:start position:0% I've given this talk right this is uh 00:00:17.699 --> 00:00:19.849 align:start position:0% I've given this talk right this is uh they<00:00:18.240> I've<00:00:18.660> given<00:00:18.960> something<00:00:19.199> like<00:00:19.560> this 00:00:19.849 --> 00:00:19.859 align:start position:0% they I've given something like this 00:00:19.859 --> 00:00:23.390 align:start position:0% they I've given something like this about<00:00:20.720> pretty<00:00:21.720> much<00:00:21.840> once<00:00:22.380> every<00:00:22.560> Defcon<00:00:23.100> I 00:00:23.390 --> 00:00:23.400 align:start position:0% about pretty much once every Defcon I 00:00:23.400 --> 00:00:26.509 align:start position:0% about pretty much once every Defcon I think<00:00:23.520> since<00:00:24.060> uh<00:00:24.420> at<00:00:24.840> least<00:00:25.019> Defcon<00:00:25.680> 1<00:00:25.920> and<00:00:26.220> the 00:00:26.509 --> 00:00:26.519 align:start position:0% think since uh at least Defcon 1 and the 00:00:26.519 --> 00:00:27.769 align:start position:0% think since uh at least Defcon 1 and the point<00:00:26.640> of<00:00:26.820> this<00:00:26.880> talk<00:00:27.060> has<00:00:27.240> always<00:00:27.359> been<00:00:27.539> to 00:00:27.769 --> 00:00:27.779 align:start position:0% point of this talk has always been to 00:00:27.779 --> 00:00:30.109 align:start position:0% point of this talk has always been to just<00:00:28.019> give<00:00:28.800> a<00:00:29.099> kind<00:00:29.279> of<00:00:29.460> big<00:00:29.640> rapid<00:00:29.820> fire 00:00:30.109 --> 00:00:30.119 align:start position:0% just give a kind of big rapid fire 00:00:30.119 --> 00:00:32.810 align:start position:0% just give a kind of big rapid fire introduction<00:00:30.720> into<00:00:31.199> some<00:00:32.099> of<00:00:32.279> the<00:00:32.340> basics<00:00:32.640> of 00:00:32.810 --> 00:00:32.820 align:start position:0% introduction into some of the basics of 00:00:32.820 --> 00:00:34.610 align:start position:0% introduction into some of the basics of how<00:00:32.940> ethereum<00:00:33.360> Works<00:00:33.719> some<00:00:33.840> of<00:00:34.020> the<00:00:34.079> basics<00:00:34.440> of 00:00:34.610 --> 00:00:34.620 align:start position:0% how ethereum Works some of the basics of 00:00:34.620 --> 00:00:37.190 align:start position:0% how ethereum Works some of the basics of what<00:00:34.920> ethereum<00:00:35.340> tries<00:00:35.700> to<00:00:35.880> accomplish<00:00:36.300> and 00:00:37.190 --> 00:00:37.200 align:start position:0% what ethereum tries to accomplish and 00:00:37.200 --> 00:00:40.190 align:start position:0% what ethereum tries to accomplish and I'm<00:00:37.559> gonna<00:00:37.800> just<00:00:38.399> try<00:00:38.700> to<00:00:38.820> get<00:00:39.000> it<00:00:39.120> done<00:00:39.300> within 00:00:40.190 --> 00:00:40.200 align:start position:0% I'm gonna just try to get it done within 00:00:40.200 --> 00:00:42.590 align:start position:0% I'm gonna just try to get it done within um<00:00:40.260> I<00:00:40.440> guess<00:00:40.500> right<00:00:41.219> now<00:00:41.340> it's<00:00:41.640> uh<00:00:41.940> 1.8 00:00:42.590 --> 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have<00:00:51.300> seen<00:00:51.719> a<00:00:51.960> general<00:00:52.140> purpose<00:00:52.680> assess<00:00:53.399> the 00:00:53.569 --> 00:00:53.579 align:start position:0% have seen a general purpose assess the 00:00:53.579 --> 00:00:55.729 align:start position:0% have seen a general purpose assess the platforms<00:00:54.120> before<00:00:54.360> and<00:00:55.020> people<00:00:55.320> have<00:00:55.500> seen 00:00:55.729 --> 00:00:55.739 align:start position:0% platforms before and people have seen 00:00:55.739 --> 00:00:58.430 align:start position:0% platforms before and people have seen blockchains<00:00:56.280> before<00:00:56.460> and<00:00:57.120> I<00:00:57.480> think<00:00:57.660> at<00:00:58.320> this 00:00:58.430 --> 00:00:58.440 align:start position:0% blockchains before and I think at this 00:00:58.440 --> 00:01:00.049 align:start position:0% blockchains before and I think at this point<00:00:58.620> we<00:00:58.920> can<00:00:59.100> all<00:00:59.219> kind<00:00:59.399> of<00:00:59.520> intuitively 00:01:00.049 --> 00:01:00.059 align:start position:0% point we can all kind of intuitively 00:01:00.059 --> 00:01:02.150 align:start position:0% point we can all kind of intuitively understand<00:01:00.300> what<00:01:01.260> the<00:01:01.440> value<00:01:01.559> of<00:01:01.800> both<00:01:01.980> of 00:01:02.150 --> 00:01:02.160 align:start position:0% understand what the value of both of 00:01:02.160 --> 00:01:05.270 align:start position:0% understand what the value of both of those<00:01:02.340> categories<00:01:03.059> is<00:01:03.239> right<00:01:03.539> so<00:01:04.280> blockchains 00:01:05.270 --> 00:01:05.280 align:start position:0% those categories is right so blockchains 00:01:05.280 --> 00:01:08.030 align:start position:0% those categories is right so blockchains can<00:01:05.760> facilitate<00:01:06.420> a<00:01:06.960> large-scale<00:01:07.500> consensus 00:01:08.030 --> 00:01:08.040 align:start position:0% can facilitate a large-scale consensus 00:01:08.040 --> 00:01:10.910 align:start position:0% can facilitate a large-scale consensus they<00:01:08.640> can<00:01:08.939> protect<00:01:09.659> against<00:01:09.900> censorship<00:01:10.560> they 00:01:10.910 --> 00:01:10.920 align:start position:0% they can protect against censorship they 00:01:10.920 --> 00:01:12.890 align:start position:0% they can protect against censorship they can<00:01:11.100> enable<00:01:11.760> censorship<00:01:12.360> resistance 00:01:12.890 --> 00:01:12.900 align:start position:0% can enable censorship resistance 00:01:12.900 --> 00:01:14.929 align:start position:0% can enable censorship resistance applications<00:01:13.520> blockchains<00:01:14.520> are<00:01:14.760> always 00:01:14.929 --> 00:01:14.939 align:start position:0% applications blockchains are always 00:01:14.939 --> 00:01:17.630 align:start position:0% applications blockchains are always available<00:01:15.500> if<00:01:16.500> you<00:01:16.740> build<00:01:16.979> on<00:01:17.159> a<00:01:17.280> blockchain 00:01:17.630 --> 00:01:17.640 align:start position:0% available if you build on a blockchain 00:01:17.640 --> 00:01:19.550 align:start position:0% available if you build on a blockchain and<00:01:18.180> then<00:01:18.420> the<00:01:18.659> thing<00:01:18.780> that<00:01:18.960> you<00:01:19.140> build<00:01:19.260> on 00:01:19.550 --> 00:01:19.560 align:start position:0% and then the thing that you build on 00:01:19.560 --> 00:01:21.530 align:start position:0% and then the thing that you build on that<00:01:19.740> blockchain<00:01:20.220> is<00:01:20.820> going<00:01:21.119> to<00:01:21.240> be<00:01:21.360> available 00:01:21.530 --> 00:01:21.540 align:start position:0% that blockchain is going to be available 00:01:21.540 --> 00:01:23.630 align:start position:0% that blockchain is going to be available it's<00:01:22.140> not<00:01:22.380> going<00:01:22.619> to<00:01:22.740> just<00:01:22.979> get<00:01:23.159> pulled<00:01:23.520> under 00:01:23.630 --> 00:01:23.640 align:start position:0% it's not going to just get pulled under 00:01:23.640 --> 00:01:25.850 align:start position:0% it's not going to just get pulled under you<00:01:23.880> because<00:01:24.240> you<00:01:25.140> know<00:01:25.259> some<00:01:25.560> particular 00:01:25.850 --> 00:01:25.860 align:start position:0% you because you know some particular 00:01:25.860 --> 00:01:28.130 align:start position:0% you because you know some particular company<00:01:26.280> decides<00:01:26.880> it<00:01:27.060> would<00:01:27.180> be<00:01:27.299> 12<00:01:27.479> more 00:01:28.130 --> 00:01:28.140 align:start position:0% company decides it would be 12 more 00:01:28.140 --> 00:01:30.170 align:start position:0% company decides it would be 12 more profitable<00:01:28.619> if<00:01:29.040> they<00:01:29.280> just<00:01:29.460> change<00:01:29.640> the<00:01:29.880> API 00:01:30.170 --> 00:01:30.180 align:start position:0% profitable if they just change the API 00:01:30.180 --> 00:01:32.870 align:start position:0% profitable if they just change the API on<00:01:30.420> you<00:01:30.600> without<00:01:30.720> notice<00:01:31.200> it<00:01:31.979> is<00:01:32.159> uh<00:01:32.460> you<00:01:32.700> know 00:01:32.870 --> 00:01:32.880 align:start position:0% on you without notice it is uh you know 00:01:32.880 --> 00:01:35.149 align:start position:0% on you without notice it is uh you know independent<00:01:33.479> of<00:01:33.840> any<00:01:34.080> one<00:01:34.380> particular<00:01:34.799> nation 00:01:35.149 --> 00:01:35.159 align:start position:0% independent of any one particular nation 00:01:35.159 --> 00:01:36.649 align:start position:0% independent of any one particular nation state<00:01:35.400> it's<00:01:35.700> not<00:01:35.939> dependent<00:01:36.360> on<00:01:36.479> any 00:01:36.649 --> 00:01:36.659 align:start position:0% state it's not dependent on any 00:01:36.659 --> 00:01:39.950 align:start position:0% state it's not dependent on any particular<00:01:37.520> centralized<00:01:38.520> Corporation<00:01:39.000> avoid 00:01:39.950 --> 00:01:39.960 align:start position:0% particular centralized Corporation avoid 00:01:39.960 --> 00:01:42.530 align:start position:0% particular centralized Corporation avoid dependence<00:01:40.439> on<00:01:40.860> centralized<00:01:41.820> parties<00:01:42.540> um 00:01:42.530 --> 00:01:42.540 align:start position:0% dependence on centralized parties um 00:01:42.540 --> 00:01:45.590 align:start position:0% dependence on centralized parties um it's<00:01:42.840> the<00:01:43.259> you<00:01:43.920> know<00:01:43.979> one<00:01:44.340> neutral<00:01:44.820> ground<00:01:45.060> at 00:01:45.590 --> 00:01:45.600 align:start position:0% it's the you know one neutral ground at 00:01:45.600 --> 00:01:47.810 align:start position:0% it's the you know one neutral ground at a<00:01:45.720> time<00:01:45.840> when<00:01:46.259> almost<00:01:46.799> every<00:01:47.159> other<00:01:47.400> grounds 00:01:47.810 --> 00:01:47.820 align:start position:0% a time when almost every other grounds 00:01:47.820 --> 00:01:50.450 align:start position:0% a time when almost every other grounds that<00:01:48.000> we<00:01:48.119> see<00:01:48.299> is<00:01:48.900> uh<00:01:49.259> you<00:01:49.740> know<00:01:49.860> picking 00:01:50.450 --> 00:01:50.460 align:start position:0% that we see is uh you know picking 00:01:50.460 --> 00:01:53.149 align:start position:0% that we see is uh you know picking picking<00:01:51.299> sides<00:01:51.659> of<00:01:51.780> some<00:01:52.140> kind<00:01:52.320> or<00:01:52.439> other<00:01:52.619> and 00:01:53.149 --> 00:01:53.159 align:start position:0% picking sides of some kind or other and 00:01:53.159 --> 00:01:55.670 align:start position:0% picking sides of some kind or other and you<00:01:53.700> know<00:01:53.820> often<00:01:54.420> for<00:01:54.540> very<00:01:54.720> good<00:01:54.960> reasons<00:01:55.320> but 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each other that you know still allows 00:02:03.659 --> 00:02:05.889 align:start position:0% each other that you know still allows them<00:02:03.840> to<00:02:04.020> have<00:02:04.259> positive<00:02:04.979> sum<00:02:05.219> interactions 00:02:05.889 --> 00:02:05.899 align:start position:0% them to have positive sum interactions 00:02:05.899 --> 00:02:08.210 align:start position:0% them to have positive sum interactions blockchains<00:02:06.899> can<00:02:07.020> allow<00:02:07.259> applications<00:02:07.799> that 00:02:08.210 --> 00:02:08.220 align:start position:0% blockchains can allow applications that 00:02:08.220 --> 00:02:10.430 align:start position:0% blockchains can allow applications that are<00:02:08.340> open<00:02:08.520> that<00:02:08.940> are<00:02:09.060> transparent<00:02:09.720> where 00:02:10.430 --> 00:02:10.440 align:start position:0% are open that are transparent where 00:02:10.440 --> 00:02:13.130 align:start position:0% are open that are transparent where people<00:02:11.099> who<00:02:11.400> participate<00:02:11.879> on<00:02:12.239> them 00:02:13.130 --> 00:02:13.140 align:start position:0% people who participate on them 00:02:13.140 --> 00:02:16.610 align:start position:0% people who participate on them or<00:02:13.980> can<00:02:14.520> be<00:02:14.760> sure<00:02:14.940> that<00:02:15.420> the<00:02:15.780> application<00:02:16.200> is 00:02:16.610 --> 00:02:16.620 align:start position:0% or can be sure that the application is 00:02:16.620 --> 00:02:18.170 align:start position:0% or can be sure that the application is going<00:02:16.920> to<00:02:17.040> follow<00:02:17.220> the<00:02:17.520> rules<00:02:17.760> that<00:02:17.879> they<00:02:18.000> sign 00:02:18.170 --> 00:02:18.180 align:start position:0% going to follow the rules that they sign 00:02:18.180 --> 00:02:21.050 align:start position:0% going to follow the rules that they sign up<00:02:18.360> for<00:02:18.540> right<00:02:18.900> so<00:02:19.700> blockchains<00:02:20.700> are<00:02:20.819> great 00:02:21.050 --> 00:02:21.060 align:start position:0% up for right so blockchains are great 00:02:21.060 --> 00:02:22.550 align:start position:0% up for right so blockchains are great for<00:02:21.360> you<00:02:21.660> know<00:02:21.780> things<00:02:22.080> that<00:02:22.260> really<00:02:22.379> need 00:02:22.550 --> 00:02:22.560 align:start position:0% for you know things that really need 00:02:22.560 --> 00:02:23.690 align:start position:0% for you know things that really need stability 00:02:23.690 --> 00:02:23.700 align:start position:0% stability 00:02:23.700 --> 00:02:25.550 align:start position:0% stability um<00:02:23.760> so<00:02:24.060> there<00:02:24.480> is<00:02:24.599> a<00:02:24.720> good<00:02:24.840> reason<00:02:25.020> why<00:02:25.319> money 00:02:25.550 --> 00:02:25.560 align:start position:0% um so there is a good reason why money 00:02:25.560 --> 00:02:26.869 align:start position:0% um so there is a good reason why money is<00:02:25.800> the<00:02:25.920> first<00:02:26.099> app 00:02:26.869 --> 00:02:26.879 align:start position:0% is the first app 00:02:26.879 --> 00:02:28.729 align:start position:0% is the first app um<00:02:26.940> but<00:02:27.239> there's<00:02:27.540> other<00:02:27.780> apps<00:02:28.140> as<00:02:28.260> well<00:02:28.440> and 00:02:28.729 --> 00:02:28.739 align:start position:0% um but there's other apps as well and 00:02:28.739 --> 00:02:31.010 align:start position:0% um but there's other apps as well and I'm<00:02:29.340> sure<00:02:29.640> a<00:02:30.120> lot<00:02:30.239> of<00:02:30.360> people<00:02:30.480> behind<00:02:30.840> those 00:02:31.010 --> 00:02:31.020 align:start position:0% I'm sure a lot of people behind those 00:02:31.020 --> 00:02:32.930 align:start position:0% I'm sure a lot of people behind those apps<00:02:31.379> are<00:02:31.500> going<00:02:31.620> to<00:02:31.739> be<00:02:31.860> talking<00:02:32.040> a<00:02:32.520> lot<00:02:32.640> about 00:02:32.930 --> 00:02:32.940 align:start position:0% apps are going to be talking a lot about 00:02:32.940 --> 00:02:35.270 align:start position:0% apps are going to be talking a lot about them<00:02:33.180> at<00:02:33.360> this<00:02:33.540> conference<00:02:33.900> general<00:02:34.739> purpose 00:02:35.270 --> 00:02:35.280 align:start position:0% them at this conference general purpose 00:02:35.280 --> 00:02:37.369 align:start position:0% them at this conference general purpose platforms<00:02:35.700> are<00:02:35.940> powerful<00:02:36.239> too<00:02:36.480> right<00:02:36.840> general 00:02:37.369 --> 00:02:37.379 align:start position:0% platforms are powerful too right general 00:02:37.379 --> 00:02:38.990 align:start position:0% platforms are powerful too right general purpose<00:02:37.800> platforms<00:02:38.459> are<00:02:38.640> interesting 00:02:38.990 --> 00:02:39.000 align:start position:0% purpose platforms are interesting 00:02:39.000 --> 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much<00:02:46.980> easier<00:02:47.340> to<00:02:47.700> build<00:02:47.879> something 00:02:48.170 --> 00:02:48.180 align:start position:0% makes it much easier to build something 00:02:48.180 --> 00:02:50.509 align:start position:0% makes it much easier to build something on<00:02:48.540> top<00:02:48.660> of<00:02:48.840> it<00:02:48.959> because<00:02:49.319> if<00:02:49.980> he<00:02:50.099> wants<00:02:50.400> to 00:02:50.509 --> 00:02:50.519 align:start position:0% on top of it because if he wants to 00:02:50.519 --> 00:02:52.430 align:start position:0% on top of it because if he wants to build<00:02:50.640> some<00:02:50.940> specific<00:02:51.300> thing<00:02:51.599> instead<00:02:52.319> of 00:02:52.430 --> 00:02:52.440 align:start position:0% build some specific thing instead of 00:02:52.440 --> 00:02:53.930 align:start position:0% build some specific thing instead of having<00:02:52.620> to<00:02:52.920> like<00:02:53.099> rebuild<00:02:53.459> all<00:02:53.819> the 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position:0% can create powerful Network effects between<00:03:00.060> different<00:03:00.540> types<00:03:00.959> of<00:03:01.019> applications 00:03:01.550 --> 00:03:01.560 align:start position:0% between different types of applications 00:03:01.560 --> 00:03:04.550 align:start position:0% between different types of applications so<00:03:02.280> you<00:03:03.000> know<00:03:03.060> you<00:03:03.239> got<00:03:03.420> your<00:03:03.660> uniswap<00:03:04.319> and 00:03:04.550 --> 00:03:04.560 align:start position:0% so you know you got your uniswap and 00:03:04.560 --> 00:03:07.070 align:start position:0% so you know you got your uniswap and then<00:03:04.680> you<00:03:04.920> got<00:03:05.160> your<00:03:05.640> like<00:03:06.060> Dow<00:03:06.480> that<00:03:06.780> plugs 00:03:07.070 --> 00:03:07.080 align:start position:0% then you got your like Dow that plugs 00:03:07.080 --> 00:03:08.869 align:start position:0% then you got your like Dow that plugs into<00:03:07.260> the<00:03:07.440> unit<00:03:07.620> Swap<00:03:08.040> and<00:03:08.220> then<00:03:08.340> that<00:03:08.459> you<00:03:08.640> and 00:03:08.869 --> 00:03:08.879 align:start position:0% into the unit Swap and then that you and 00:03:08.879 --> 00:03:10.850 align:start position:0% into the unit Swap and then that you and then<00:03:09.000> that<00:03:09.180> unit<00:03:09.300> swap<00:03:09.660> itself<00:03:09.959> gets<00:03:10.379> used<00:03:10.500> to 00:03:10.850 --> 00:03:10.860 align:start position:0% then that unit swap itself gets used to 00:03:10.860 --> 00:03:14.149 align:start position:0% then that unit swap itself gets used to trade<00:03:11.159> between<00:03:11.519> you<00:03:12.480> know<00:03:12.540> usdc<00:03:13.080> tokens<00:03:13.980> and 00:03:14.149 --> 00:03:14.159 align:start position:0% trade between you know usdc tokens and 00:03:14.159 --> 00:03:16.670 align:start position:0% trade between you know usdc tokens and maker<00:03:14.580> tokens<00:03:14.940> and<00:03:15.420> you<00:03:15.780> can<00:03:16.140> create<00:03:16.319> these 00:03:16.670 --> 00:03:16.680 align:start position:0% maker tokens and you can create these 00:03:16.680 --> 00:03:18.110 align:start position:0% maker tokens and you can create these kind<00:03:16.800> of<00:03:16.860> complicated<00:03:17.340> chains<00:03:17.819> of<00:03:17.940> seven 00:03:18.110 --> 00:03:18.120 align:start position:0% kind of complicated chains of seven 00:03:18.120 --> 00:03:20.270 align:start position:0% kind of complicated chains of seven different<00:03:18.360> applications<00:03:18.959> that<00:03:19.680> all<00:03:19.920> talk<00:03:20.099> to 00:03:20.270 --> 00:03:20.280 align:start position:0% different applications that all talk to 00:03:20.280 --> 00:03:21.830 align:start position:0% different applications that all talk to each<00:03:20.459> other<00:03:20.580> and<00:03:20.940> sometimes<00:03:21.300> they<00:03:21.480> talk<00:03:21.659> to 00:03:21.830 --> 00:03:21.840 align:start position:0% each other and sometimes they talk to 00:03:21.840 --> 00:03:24.229 align:start position:0% each other and sometimes they talk to each<00:03:22.019> other<00:03:22.140> in<00:03:22.800> insanely<00:03:23.220> crazy<00:03:23.459> ways<00:03:23.879> within 00:03:24.229 --> 00:03:24.239 align:start position:0% each other in insanely crazy ways within 00:03:24.239 --> 00:03:26.630 align:start position:0% each other in insanely crazy ways within one<00:03:24.480> single<00:03:24.780> transaction<00:03:25.200> that<00:03:25.739> uh<00:03:26.340> you<00:03:26.580> know 00:03:26.630 --> 00:03:26.640 align:start position:0% one single transaction that uh you know 00:03:26.640 --> 00:03:29.089 align:start position:0% one single transaction that uh you know really<00:03:27.180> fun<00:03:27.360> people<00:03:27.599> from<00:03:27.840> Paradigm<00:03:28.440> go<00:03:28.980> and 00:03:29.089 --> 00:03:29.099 align:start position:0% really fun people from Paradigm go and 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simpler<00:03:36.959> to<00:03:37.080> build<00:03:37.260> they<00:03:37.620> enable<00:03:38.580> a<00:03:39.060> lot<00:03:39.120> of 00:03:39.290 --> 00:03:39.300 align:start position:0% simpler to build they enable a lot of 00:03:39.300 --> 00:03:41.930 align:start position:0% simpler to build they enable a lot of innovation<00:03:39.900> and<00:03:40.440> often<00:03:41.280> general<00:03:41.459> purpose 00:03:41.930 --> 00:03:41.940 align:start position:0% innovation and often general purpose 00:03:41.940 --> 00:03:44.270 align:start position:0% innovation and often general purpose platforms<00:03:42.540> end<00:03:43.019> up<00:03:43.200> being<00:03:43.440> far<00:03:43.739> more<00:03:43.860> useful 00:03:44.270 --> 00:03:44.280 align:start position:0% platforms end up being far more useful 00:03:44.280 --> 00:03:46.070 align:start position:0% platforms end up being far more useful that<00:03:44.580> even<00:03:44.760> the<00:03:45.060> creators<00:03:45.540> originally 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this is like one of 00:03:54.959 --> 00:03:57.710 align:start position:0% tries to be both so this is like one of the<00:03:55.140> sort<00:03:55.739> of<00:03:55.799> three-minute<00:03:56.519> pitches<00:03:56.940> of<00:03:57.239> you 00:03:57.710 --> 00:03:57.720 align:start position:0% the sort of three-minute pitches of you 00:03:57.720 --> 00:03:59.809 align:start position:0% the sort of three-minute pitches of you know<00:03:57.780> what<00:03:58.080> ethereum<00:03:58.560> could<00:03:58.860> could<00:03:59.340> allow<00:03:59.700> you 00:03:59.809 --> 00:03:59.819 align:start position:0% know what ethereum could could allow you 00:03:59.819 --> 00:04:01.670 align:start position:0% know what ethereum could could allow you to<00:03:59.940> do<00:04:00.480> so 00:04:01.670 --> 00:04:01.680 align:start position:0% to do so 00:04:01.680 --> 00:04:03.649 align:start position:0% to do so what<00:04:02.099> what<00:04:02.280> is<00:04:02.700> ethereum<00:04:03.060> and<00:04:03.299> how<00:04:03.420> does<00:04:03.540> this 00:04:03.649 --> 00:04:03.659 align:start position:0% what what is ethereum and how does this 00:04:03.659 --> 00:04:06.770 align:start position:0% what what is ethereum and how does this work<00:04:03.840> so<00:04:04.519> these<00:04:05.519> three<00:04:05.640> pictures<00:04:05.879> are<00:04:06.299> from<00:04:06.540> a 00:04:06.770 --> 00:04:06.780 align:start position:0% work so these three pictures are from a 00:04:06.780 --> 00:04:09.649 align:start position:0% work so these three pictures are from a slide<00:04:07.140> that<00:04:07.319> I<00:04:07.440> use<00:04:07.560> to<00:04:07.739> describe<00:04:08.040> ethereum<00:04:08.659> at 00:04:09.649 --> 00:04:09.659 align:start position:0% slide that I use to describe ethereum at 00:04:09.659 --> 00:04:12.770 align:start position:0% slide that I use to describe ethereum at some<00:04:09.840> of<00:04:10.019> the<00:04:10.260> previous<00:04:10.879> ethereum<00:04:11.879> in<00:04:12.180> uh<00:04:12.420> 30 00:04:12.770 --> 00:04:12.780 align:start position:0% some of the previous ethereum in uh 30 00:04:12.780 --> 00:04:14.869 align:start position:0% some of the previous ethereum in uh 30 minute<00:04:13.019> sessions<00:04:13.439> right<00:04:13.680> so<00:04:14.099> you<00:04:14.519> know<00:04:14.640> you 00:04:14.869 --> 00:04:14.879 align:start position:0% minute sessions right so you know you 00:04:14.879 --> 00:04:17.270 align:start position:0% minute sessions right so you know you have<00:04:15.000> like<00:04:15.239> single<00:04:16.079> application<00:04:16.500> blockchains 00:04:17.270 --> 00:04:17.280 align:start position:0% have like single application blockchains 00:04:17.280 --> 00:04:19.250 align:start position:0% have like single application blockchains which<00:04:17.459> are<00:04:17.579> like<00:04:17.699> pocket<00:04:18.120> calculators<00:04:18.720> then 00:04:19.250 --> 00:04:19.260 align:start position:0% which are like pocket calculators then 00:04:19.260 --> 00:04:20.750 align:start position:0% which are like pocket calculators then you<00:04:19.440> have<00:04:19.620> like<00:04:19.919> multi-application 00:04:20.750 --> 00:04:20.760 align:start position:0% you have like multi-application 00:04:20.760 --> 00:04:22.969 align:start position:0% you have like multi-application blockchains<00:04:21.419> that<00:04:21.660> explicitly<00:04:22.440> support<00:04:22.680> a 00:04:22.969 --> 00:04:22.979 align:start position:0% blockchains that explicitly support a 00:04:22.979 --> 00:04:24.950 align:start position:0% blockchains that explicitly support a small<00:04:23.160> number<00:04:23.340> of<00:04:23.520> applications<00:04:24.060> I<00:04:24.660> call<00:04:24.840> them 00:04:24.950 --> 00:04:24.960 align:start position:0% small number of applications I call them 00:04:24.960 --> 00:04:26.570 align:start position:0% small number of applications I call them Swiss<00:04:25.259> army<00:04:25.500> knife<00:04:25.620> blockchains<00:04:26.220> and<00:04:26.520> then 00:04:26.570 --> 00:04:26.580 align:start position:0% Swiss army knife blockchains and then 00:04:26.580 --> 00:04:27.650 align:start position:0% Swiss army knife blockchains and then you<00:04:26.759> have<00:04:26.880> you<00:04:27.060> know<00:04:27.180> the<00:04:27.360> smartphone 00:04:27.650 --> 00:04:27.660 align:start position:0% you have you know the smartphone 00:04:27.660 --> 00:04:31.070 align:start position:0% you have you know the smartphone blockchain<00:04:28.199> oh<00:04:29.040> it's<00:04:29.880> a<00:04:30.060> you<00:04:30.660> know<00:04:30.780> it's 00:04:31.070 --> 00:04:31.080 align:start position:0% blockchain oh it's a you know it's 00:04:31.080 --> 00:04:32.629 align:start position:0% blockchain oh it's a you know it's general<00:04:31.199> purpose<00:04:31.740> and<00:04:31.979> if<00:04:32.160> you<00:04:32.280> want<00:04:32.400> to<00:04:32.520> do 00:04:32.629 --> 00:04:32.639 align:start position:0% general purpose and if you want to do 00:04:32.639 --> 00:04:34.070 align:start position:0% general purpose and if you want to do something<00:04:32.759> you<00:04:33.060> just<00:04:33.180> like<00:04:33.300> download<00:04:33.540> the<00:04:33.900> app 00:04:34.070 --> 00:04:34.080 align:start position:0% something you just like download the app 00:04:34.080 --> 00:04:35.629 align:start position:0% something you just like download the app right<00:04:34.440> so 00:04:35.629 --> 00:04:35.639 align:start position:0% right so 00:04:35.639 --> 00:04:37.610 align:start position:0% right so these<00:04:36.360> days<00:04:36.479> you<00:04:36.720> know<00:04:36.780> unfortunately<00:04:37.259> even 00:04:37.610 --> 00:04:37.620 align:start position:0% these days you know unfortunately even 00:04:37.620 --> 00:04:41.390 align:start position:0% these days you know unfortunately even over<00:04:37.979> in<00:04:38.520> you<00:04:38.820> know<00:04:39.080> 2022<00:04:40.080> and<00:04:40.680> uh<00:04:40.979> you<00:04:41.280> know 00:04:41.390 --> 00:04:41.400 align:start position:0% over in you know 2022 and uh you know 00:04:41.400 --> 00:04:44.510 align:start position:0% over in you know 2022 and uh you know talking<00:04:41.759> about<00:04:42.419> a<00:04:43.139> general<00:04:43.320> blockchain<00:04:44.280> being 00:04:44.510 --> 00:04:44.520 align:start position:0% talking about a general blockchain being 00:04:44.520 --> 00:04:46.070 align:start position:0% talking about a general blockchain being general<00:04:44.820> purpose<00:04:45.360> as<00:04:45.660> though<00:04:45.840> that's 00:04:46.070 --> 00:04:46.080 align:start position:0% general purpose as though that's 00:04:46.080 --> 00:04:48.350 align:start position:0% general purpose as though that's something<00:04:46.320> cool<00:04:46.680> is<00:04:47.639> um<00:04:47.639> you<00:04:47.880> know<00:04:48.000> kind<00:04:48.300> of 00:04:48.350 --> 00:04:48.360 align:start position:0% something cool is um you know kind of 00:04:48.360 --> 00:04:51.290 align:start position:0% something cool is um you know kind of like<00:04:48.600> a 00:04:51.290 --> 00:04:51.300 align:start position:0% like a 00:04:51.300 --> 00:04:53.390 align:start position:0% like a someone<00:04:51.840> selling<00:04:52.320> a<00:04:52.440> house<00:04:52.620> describing<00:04:53.220> their 00:04:53.390 --> 00:04:53.400 align:start position:0% someone selling a house describing their 00:04:53.400 --> 00:04:54.950 align:start position:0% someone selling a house describing their house<00:04:53.639> by<00:04:53.940> saying<00:04:54.180> you<00:04:54.300> know<00:04:54.419> we're<00:04:54.660> we're 00:04:54.950 --> 00:04:54.960 align:start position:0% house by saying you know we're we're 00:04:54.960 --> 00:04:58.010 align:start position:0% house by saying you know we're we're really<00:04:55.259> modern<00:04:55.440> we<00:04:55.860> have<00:04:55.979> a<00:04:56.100> refrigerator 00:04:58.010 --> 00:04:58.020 align:start position:0% really modern we have a refrigerator 00:04:58.020 --> 00:05:00.950 align:start position:0% really modern we have a refrigerator who<00:04:58.259> here<00:04:58.500> has<00:04:58.740> a<00:04:58.800> refrigerator 00:05:00.950 --> 00:05:00.960 align:start position:0% who here has a refrigerator 00:05:00.960 --> 00:05:02.689 align:start position:0% who here has a refrigerator well<00:05:01.380> lots<00:05:01.740> of<00:05:01.800> people<00:05:01.860> have<00:05:02.100> not<00:05:02.280> raised 00:05:02.689 --> 00:05:02.699 align:start position:0% well lots of people have not raised 00:05:02.699 --> 00:05:04.670 align:start position:0% well lots of people have not raised their<00:05:02.759> hands<00:05:03.060> I'm<00:05:03.240> impressed 00:05:04.670 --> 00:05:04.680 align:start position:0% their hands I'm impressed 00:05:04.680 --> 00:05:05.870 align:start position:0% their hands I'm impressed um 00:05:05.870 --> 00:05:05.880 align:start position:0% um 00:05:05.880 --> 00:05:08.570 align:start position:0% um I<00:05:06.419> I<00:05:06.660> guess<00:05:06.840> that<00:05:07.020> do<00:05:07.259> people<00:05:07.500> like<00:05:07.860> order<00:05:08.220> out 00:05:08.570 --> 00:05:08.580 align:start position:0% I I guess that do people like order out 00:05:08.580 --> 00:05:11.390 align:start position:0% I I guess that do people like order out do<00:05:08.880> people<00:05:09.000> eat<00:05:09.240> raw<00:05:09.720> food<00:05:09.960> like<00:05:10.440> what's<00:05:11.220> the 00:05:11.390 --> 00:05:11.400 align:start position:0% do people eat raw food like what's the 00:05:11.400 --> 00:05:13.790 align:start position:0% do people eat raw food like what's the idea<00:05:11.699> here<00:05:11.880> I<00:05:12.479> don't<00:05:12.540> know<00:05:12.660> I<00:05:12.780> mean<00:05:12.960> people 00:05:13.790 --> 00:05:13.800 align:start position:0% idea here I don't know I mean people 00:05:13.800 --> 00:05:15.530 align:start position:0% idea here I don't know I mean people have<00:05:14.040> done<00:05:14.280> refrigerator<00:05:14.940> Free<00:05:15.300> Living 00:05:15.530 --> 00:05:15.540 align:start position:0% have done refrigerator Free Living 00:05:15.540 --> 00:05:18.050 align:start position:0% have done refrigerator Free Living successfully<00:05:16.320> for<00:05:16.680> like<00:05:16.919> you<00:05:17.340> know<00:05:17.400> 1900 00:05:18.050 --> 00:05:18.060 align:start position:0% successfully for like you know 1900 00:05:18.060 --> 00:05:21.409 align:start position:0% successfully for like you know 1900 years<00:05:18.419> in<00:05:18.780> the<00:05:18.960> ad<00:05:19.080> era<00:05:19.560> alone<00:05:19.740> but<00:05:20.220> uh<00:05:20.580> that's 00:05:21.409 --> 00:05:21.419 align:start position:0% years in the ad era alone but uh that's 00:05:21.419 --> 00:05:23.570 align:start position:0% years in the ad era alone but uh that's uh<00:05:21.660> you<00:05:21.840> know<00:05:21.960> it's<00:05:22.080> still<00:05:22.199> impressive 00:05:23.570 --> 00:05:23.580 align:start position:0% uh you know it's still impressive 00:05:23.580 --> 00:05:25.670 align:start position:0% uh you know it's still impressive um anyway<00:05:24.240> so<00:05:24.600> like<00:05:24.900> what<00:05:25.440> does<00:05:25.560> the 00:05:25.670 --> 00:05:25.680 align:start position:0% um anyway so like what does the 00:05:25.680 --> 00:05:27.409 align:start position:0% um anyway so like what does the blockchain<00:05:25.979> look<00:05:26.220> like<00:05:26.340> right<00:05:26.580> so 00:05:27.409 --> 00:05:27.419 align:start position:0% blockchain look like right so 00:05:27.419 --> 00:05:30.710 align:start position:0% blockchain look like right so one<00:05:28.080> of<00:05:28.199> the<00:05:28.380> uh<00:05:29.120> exciting<00:05:30.120> things<00:05:30.300> about 00:05:30.710 --> 00:05:30.720 align:start position:0% one of the uh exciting things about 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right like between a lot of the previous<00:05:37.199> sub<00:05:37.620> ones<00:05:37.919> it's<00:05:38.100> like<00:05:38.340> okay<00:05:38.940> you 00:05:39.350 --> 00:05:39.360 align:start position:0% previous sub ones it's like okay you 00:05:39.360 --> 00:05:41.090 align:start position:0% previous sub ones it's like okay you know<00:05:39.419> it's<00:05:39.720> ethereum<00:05:40.199> here's<00:05:40.620> how<00:05:40.740> it<00:05:40.860> works 00:05:41.090 --> 00:05:41.100 align:start position:0% know it's ethereum here's how it works 00:05:41.100 --> 00:05:42.950 align:start position:0% know it's ethereum here's how it works okay<00:05:41.280> it's<00:05:41.460> ethereum<00:05:41.880> it's<00:05:42.479> how<00:05:42.600> it<00:05:42.720> works 00:05:42.950 --> 00:05:42.960 align:start position:0% okay it's ethereum it's how it works 00:05:42.960 --> 00:05:45.110 align:start position:0% okay it's ethereum it's how it works okay<00:05:43.080> it's<00:05:43.320> ethereum<00:05:43.740> it's<00:05:43.919> how<00:05:44.100> it<00:05:44.220> works<00:05:44.460> but 00:05:45.110 --> 00:05:45.120 align:start position:0% okay it's ethereum it's how it works but 00:05:45.120 --> 00:05:48.350 align:start position:0% okay it's ethereum it's how it works but in<00:05:45.840> between<00:05:46.020> the<00:05:46.380> last<00:05:46.500> Defcon<00:05:46.979> and<00:05:47.280> this<00:05:47.520> one 00:05:48.350 --> 00:05:48.360 align:start position:0% in between the last Defcon and this one 00:05:48.360 --> 00:05:50.150 align:start position:0% in between the last Defcon and this one the<00:05:48.900> way<00:05:49.139> that<00:05:49.320> the<00:05:49.440> ethereum<00:05:49.740> blockchain 00:05:50.150 --> 00:05:50.160 align:start position:0% the way that the ethereum blockchain 00:05:50.160 --> 00:05:51.469 align:start position:0% the way that the ethereum blockchain works<00:05:50.580> just<00:05:50.759> like<00:05:50.940> changed<00:05:51.300> very 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changes<00:06:00.660> to<00:06:00.840> the<00:06:00.960> ethereum<00:06:01.320> protocol 00:06:01.610 --> 00:06:01.620 align:start position:0% changes to the ethereum protocol 00:06:01.620 --> 00:06:03.710 align:start position:0% changes to the ethereum protocol significant<00:06:02.580> changes<00:06:02.940> that<00:06:03.120> we<00:06:03.300> have<00:06:03.419> wanted 00:06:03.710 --> 00:06:03.720 align:start position:0% significant changes that we have wanted 00:06:03.720 --> 00:06:06.890 align:start position:0% significant changes that we have wanted to<00:06:04.020> do<00:06:04.199> I'm<00:06:04.919> almost<00:06:05.160> since<00:06:05.639> the<00:06:05.880> protocols<00:06:06.720> are 00:06:06.890 --> 00:06:06.900 align:start position:0% to do I'm almost since the protocols are 00:06:06.900 --> 00:06:08.570 align:start position:0% to do I'm almost since the protocols are launched<00:06:07.199> and<00:06:07.440> that<00:06:07.979> we've<00:06:08.220> been<00:06:08.400> talking 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accelerating right so we had eip1559 in 00:06:17.220 --> 00:06:19.370 align:start position:0% accelerating right so we had eip1559 in you<00:06:17.580> know<00:06:17.699> 2020<00:06:18.360> and<00:06:18.660> then<00:06:18.840> the<00:06:18.960> beacon<00:06:19.259> chain 00:06:19.370 --> 00:06:19.380 align:start position:0% you know 2020 and then the beacon chain 00:06:19.380 --> 00:06:21.350 align:start position:0% you know 2020 and then the beacon chain launched<00:06:19.860> and<00:06:19.979> now<00:06:20.220> the<00:06:20.580> beacon<00:06:20.940> chain<00:06:21.060> took 00:06:21.350 --> 00:06:21.360 align:start position:0% launched and now the beacon chain took 00:06:21.360 --> 00:06:23.510 align:start position:0% launched and now the beacon chain took over<00:06:21.479> and<00:06:21.720> you<00:06:21.900> and<00:06:22.199> uh<00:06:22.380> you<00:06:22.740> know<00:06:22.800> ethereum<00:06:23.220> is 00:06:23.510 --> 00:06:23.520 align:start position:0% over and you and uh you know ethereum is 00:06:23.520 --> 00:06:25.850 align:start position:0% over and you and uh you know ethereum is only<00:06:23.639> a<00:06:23.880> proof<00:06:24.120> of<00:06:24.180> stake<00:06:24.479> system<00:06:24.720> so<00:06:25.380> you<00:06:25.740> know 00:06:25.850 --> 00:06:25.860 align:start position:0% only a proof of stake system so you know 00:06:25.860 --> 00:06:28.610 align:start position:0% only a proof of stake system so you know lots<00:06:26.699> of<00:06:26.759> very<00:06:26.880> big<00:06:27.120> changes<00:06:27.479> and<00:06:28.020> you<00:06:28.560> know 00:06:28.610 --> 00:06:28.620 align:start position:0% lots of very big changes and you know 00:06:28.620 --> 00:06:30.050 align:start position:0% lots of very big changes and you know lots<00:06:28.979> of<00:06:29.039> different<00:06:29.220> things<00:06:29.460> that<00:06:29.639> we<00:06:29.759> have<00:06:29.880> to 00:06:30.050 --> 00:06:30.060 align:start position:0% lots of different things that we have to 00:06:30.060 --> 00:06:32.870 align:start position:0% lots of different things that we have to talk<00:06:30.180> about<00:06:30.360> right<00:06:30.660> so<00:06:31.080> like<00:06:31.800> remember<00:06:32.340> back 00:06:32.870 --> 00:06:32.880 align:start position:0% talk about right so like remember back 00:06:32.880 --> 00:06:35.990 align:start position:0% talk about right so like remember back in<00:06:33.060> when<00:06:33.780> during<00:06:34.560> the<00:06:34.860> proof<00:06:35.100> of<00:06:35.160> work<00:06:35.340> era<00:06:35.759> we 00:06:35.990 --> 00:06:36.000 align:start position:0% in when during the proof of work era we 00:06:36.000 --> 00:06:37.670 align:start position:0% in when during the proof of work era we had<00:06:36.120> to<00:06:36.240> talk<00:06:36.419> about<00:06:36.539> how<00:06:36.900> like<00:06:37.080> blocks 00:06:37.670 --> 00:06:37.680 align:start position:0% had to talk about how like blocks 00:06:37.680 --> 00:06:40.070 align:start position:0% had to talk about how like blocks include<00:06:38.160> Uncle<00:06:38.759> blocks<00:06:39.300> right<00:06:39.479> do<00:06:39.900> people 00:06:40.070 --> 00:06:40.080 align:start position:0% include Uncle blocks right do people 00:06:40.080 --> 00:06:41.689 align:start position:0% include Uncle blocks right do people remember<00:06:40.319> this 00:06:41.689 --> 00:06:41.699 align:start position:0% remember this 00:06:41.699 --> 00:06:43.370 align:start position:0% remember this so<00:06:42.120> people<00:06:42.419> remember<00:06:42.600> how<00:06:42.900> like<00:06:43.080> sometimes 00:06:43.370 --> 00:06:43.380 align:start position:0% so people remember how like sometimes 00:06:43.380 --> 00:06:45.230 align:start position:0% so people remember how like sometimes people<00:06:43.560> would<00:06:44.039> even<00:06:44.280> you<00:06:44.699> know<00:06:44.759> try<00:06:45.000> to<00:06:45.120> be 00:06:45.230 --> 00:06:45.240 align:start position:0% people would even you know try to be 00:06:45.240 --> 00:06:47.029 align:start position:0% people would even you know try to be gender<00:06:45.539> neutral<00:06:45.900> call<00:06:46.199> them<00:06:46.319> armor<00:06:46.680> blocks 00:06:47.029 --> 00:06:47.039 align:start position:0% gender neutral call them armor blocks 00:06:47.039 --> 00:06:49.189 align:start position:0% gender neutral call them armor blocks instead<00:06:47.280> of<00:06:47.340> Uncle<00:06:47.460> blocks<00:06:48.000> as<00:06:48.120> well<00:06:48.300> and<00:06:49.020> like 00:06:49.189 --> 00:06:49.199 align:start position:0% instead of Uncle blocks as well and like 00:06:49.199 --> 00:06:51.050 align:start position:0% instead of Uncle blocks as well and like you<00:06:49.620> know<00:06:49.680> I<00:06:49.919> get<00:06:50.039> this<00:06:50.220> I<00:06:50.400> you<00:06:50.639> know<00:06:50.699> I<00:06:50.819> get<00:06:50.940> the 00:06:51.050 --> 00:06:51.060 align:start position:0% you know I get this I you know I get the 00:06:51.060 --> 00:06:52.610 align:start position:0% you know I get this I you know I get the sentiment<00:06:51.419> very<00:06:51.660> honorable<00:06:51.960> sentiment<00:06:52.380> but 00:06:52.610 --> 00:06:52.620 align:start position:0% sentiment very honorable sentiment but 00:06:52.620 --> 00:06:54.230 align:start position:0% sentiment very honorable sentiment but like<00:06:52.740> come<00:06:52.919> on<00:06:52.979> like<00:06:53.220> armor<00:06:53.699> just<00:06:53.940> sounds<00:06:54.060> like 00:06:54.230 --> 00:06:54.240 align:start position:0% like come on like armor just sounds like 00:06:54.240 --> 00:06:56.390 align:start position:0% like come on like armor just sounds like an<00:06:54.360> insult<00:06:54.720> for<00:06:54.900> people<00:06:55.020> who<00:06:55.199> meditate 00:06:56.390 --> 00:06:56.400 align:start position:0% an insult for people who meditate 00:06:56.400 --> 00:06:58.730 align:start position:0% an insult for people who meditate but<00:06:56.940> okay 00:06:58.730 --> 00:06:58.740 align:start position:0% but okay 00:06:58.740 --> 00:07:00.770 align:start position:0% but okay so<00:06:59.280> these<00:06:59.819> days<00:06:59.940> you<00:07:00.180> know<00:07:00.240> we're<00:07:00.360> proof<00:07:00.720> of 00:07:00.770 --> 00:07:00.780 align:start position:0% so these days you know we're proof of 00:07:00.780 --> 00:07:03.350 align:start position:0% so these days you know we're proof of stake<00:07:01.080> right<00:07:01.500> and<00:07:02.819> um 00:07:03.350 --> 00:07:03.360 align:start position:0% stake right and um 00:07:03.360 --> 00:07:05.090 align:start position:0% stake right and um the<00:07:03.900> blockchain<00:07:04.380> looks<00:07:04.740> kind<00:07:04.860> of<00:07:04.979> different 00:07:05.090 --> 00:07:05.100 align:start position:0% the blockchain looks kind of different 00:07:05.100 --> 00:07:07.909 align:start position:0% the blockchain looks kind of different from<00:07:05.340> what<00:07:05.460> it<00:07:05.580> did<00:07:05.759> before<00:07:05.880> right<00:07:06.180> so<00:07:06.600> what 00:07:07.909 --> 00:07:07.919 align:start position:0% from what it did before right so what 00:07:07.919 --> 00:07:10.249 align:start position:0% from what it did before right so what so<00:07:08.460> let's<00:07:08.940> like<00:07:09.240> talk<00:07:09.660> about<00:07:09.840> what<00:07:10.139> the 00:07:10.249 --> 00:07:10.259 align:start position:0% so let's like talk about what the 00:07:10.259 --> 00:07:12.110 align:start position:0% so let's like talk about what the blockchain<00:07:10.560> looks<00:07:10.979> like<00:07:11.100> without<00:07:11.580> reference 00:07:12.110 --> 00:07:12.120 align:start position:0% blockchain looks like without reference 00:07:12.120 --> 00:07:13.909 align:start position:0% blockchain looks like without reference to<00:07:12.419> you<00:07:12.720> know<00:07:12.780> the<00:07:13.020> dark<00:07:13.139> old<00:07:13.380> proof<00:07:13.680> of<00:07:13.740> work 00:07:13.909 --> 00:07:13.919 align:start position:0% to you know the dark old proof of work 00:07:13.919 --> 00:07:16.129 align:start position:0% to you know the dark old proof of work era<00:07:14.400> that<00:07:15.000> our<00:07:15.300> grandchildren<00:07:15.900> will 00:07:16.129 --> 00:07:16.139 align:start position:0% era that our grandchildren will 00:07:16.139 --> 00:07:17.689 align:start position:0% era that our grandchildren will eventually<00:07:16.500> remember<00:07:16.680> in<00:07:17.039> the<00:07:17.220> same<00:07:17.280> light<00:07:17.460> as 00:07:17.689 --> 00:07:17.699 align:start position:0% eventually remember in the same light as 00:07:17.699 --> 00:07:19.850 align:start position:0% eventually remember in the same light as how<00:07:17.880> they<00:07:18.120> yeah<00:07:18.360> remember<00:07:18.780> how<00:07:19.139> houses<00:07:19.500> used 00:07:19.850 --> 00:07:19.860 align:start position:0% how they yeah remember how houses used 00:07:19.860 --> 00:07:22.730 align:start position:0% how they yeah remember how houses used to<00:07:19.979> not<00:07:20.099> have<00:07:20.220> refrigerators<00:07:20.940> so<00:07:21.780> you<00:07:22.620> have 00:07:22.730 --> 00:07:22.740 align:start position:0% to not have refrigerators so you have 00:07:22.740 --> 00:07:24.589 align:start position:0% to not have refrigerators so you have blocks<00:07:23.220> right<00:07:23.460> and<00:07:23.940> blocks<00:07:24.360> contain 00:07:24.589 --> 00:07:24.599 align:start position:0% blocks right and blocks contain 00:07:24.599 --> 00:07:26.870 align:start position:0% blocks right and blocks contain transactions<00:07:25.319> what<00:07:25.740> is<00:07:25.860> a<00:07:25.979> transaction<00:07:26.340> a 00:07:26.870 --> 00:07:26.880 align:start position:0% transactions what is a transaction a 00:07:26.880 --> 00:07:30.230 align:start position:0% transactions what is a transaction a transaction<00:07:27.240> is<00:07:27.900> an<00:07:28.440> object<00:07:28.740> sent<00:07:29.460> by<00:07:29.699> a<00:07:29.880> user 00:07:30.230 --> 00:07:30.240 align:start position:0% transaction is an object sent by a user 00:07:30.240 --> 00:07:32.930 align:start position:0% transaction is an object sent by a user that<00:07:30.919> contains<00:07:31.919> information<00:07:32.220> about 00:07:32.930 --> 00:07:32.940 align:start position:0% that contains information about 00:07:32.940 --> 00:07:35.330 align:start position:0% that contains information about something<00:07:33.419> that<00:07:33.780> they<00:07:33.900> want<00:07:34.080> to<00:07:34.199> do<00:07:34.380> right<00:07:34.740> so 00:07:35.330 --> 00:07:35.340 align:start position:0% something that they want to do right so 00:07:35.340 --> 00:07:39.050 align:start position:0% something that they want to do right so if<00:07:35.940> I<00:07:36.180> want<00:07:36.300> if<00:07:36.660> I<00:07:36.840> have<00:07:36.960> like<00:07:37.259> some<00:07:37.560> if<00:07:38.060> there's 00:07:39.050 --> 00:07:39.060 align:start position:0% if I want if I have like some if there's 00:07:39.060 --> 00:07:40.430 align:start position:0% if I want if I have like some if there's the<00:07:39.180> yeah<00:07:39.419> cryptocurrency<00:07:39.960> inside<00:07:40.199> of 00:07:40.430 --> 00:07:40.440 align:start position:0% the yeah cryptocurrency inside of 00:07:40.440 --> 00:07:42.469 align:start position:0% the yeah cryptocurrency inside of ethereum<00:07:40.800> and<00:07:41.220> I<00:07:41.400> want<00:07:41.759> to<00:07:41.880> send<00:07:42.000> you<00:07:42.120> one<00:07:42.240> is 00:07:42.469 --> 00:07:42.479 align:start position:0% ethereum and I want to send you one is 00:07:42.479 --> 00:07:46.309 align:start position:0% ethereum and I want to send you one is then<00:07:43.259> that<00:07:43.800> request<00:07:44.639> would<00:07:45.000> be<00:07:45.240> packaged<00:07:46.199> up 00:07:46.309 --> 00:07:46.319 align:start position:0% then that request would be packaged up 00:07:46.319 --> 00:07:49.249 align:start position:0% then that request would be packaged up inside<00:07:46.620> of<00:07:46.919> a<00:07:47.039> transaction<00:07:47.479> if<00:07:48.479> let's<00:07:48.780> say<00:07:48.960> I 00:07:49.249 --> 00:07:49.259 align:start position:0% inside of a transaction if let's say I 00:07:49.259 --> 00:07:50.930 align:start position:0% inside of a transaction if let's say I have<00:07:49.380> an<00:07:49.500> nft<00:07:49.740> and<00:07:50.160> I<00:07:50.280> want<00:07:50.400> to<00:07:50.520> send<00:07:50.639> you<00:07:50.759> the 00:07:50.930 --> 00:07:50.940 align:start position:0% have an nft and I want to send you the 00:07:50.940 --> 00:07:53.930 align:start position:0% have an nft and I want to send you the nft<00:07:51.180> that<00:07:52.560> um<00:07:52.560> request<00:07:53.280> is<00:07:53.460> packaged<00:07:53.880> up 00:07:53.930 --> 00:07:53.940 align:start position:0% nft that um request is packaged up 00:07:53.940 --> 00:07:56.330 align:start position:0% nft that um request is packaged up inside<00:07:54.120> of<00:07:54.360> a<00:07:54.479> transaction<00:07:54.900> if<00:07:55.620> I<00:07:55.860> want<00:07:56.099> to 00:07:56.330 --> 00:07:56.340 align:start position:0% inside of a transaction if I want to 00:07:56.340 --> 00:07:58.969 align:start position:0% inside of a transaction if I want to publish<00:07:56.819> an<00:07:57.120> entirely<00:07:57.479> new<00:07:57.720> application<00:07:58.259> then 00:07:58.969 --> 00:07:58.979 align:start position:0% publish an entirely new application then 00:07:58.979 --> 00:08:00.950 align:start position:0% publish an entirely new application then and<00:07:59.520> create<00:07:59.759> the<00:08:00.000> smart<00:08:00.180> contract<00:08:00.599> for<00:08:00.780> the 00:08:00.950 --> 00:08:00.960 align:start position:0% and create the smart contract for the 00:08:00.960 --> 00:08:02.089 align:start position:0% and create the smart contract for the application<00:08:01.319> and<00:08:01.560> that's<00:08:01.740> something<00:08:01.919> I'll 00:08:02.089 --> 00:08:02.099 align:start position:0% application and that's something I'll 00:08:02.099 --> 00:08:04.070 align:start position:0% application and that's something I'll cover<00:08:02.340> later<00:08:02.580> that<00:08:03.180> is<00:08:03.360> also<00:08:03.599> packaged<00:08:03.960> up 00:08:04.070 --> 00:08:04.080 align:start position:0% cover later that is also packaged up 00:08:04.080 --> 00:08:06.350 align:start position:0% cover later that is also packaged up inside<00:08:04.319> of<00:08:04.560> a<00:08:04.740> transaction<00:08:05.099> so<00:08:05.759> a<00:08:05.940> transaction 00:08:06.350 --> 00:08:06.360 align:start position:0% inside of a transaction so a transaction 00:08:06.360 --> 00:08:08.749 align:start position:0% inside of a transaction so a transaction is<00:08:06.599> like<00:08:06.840> a<00:08:07.080> package<00:08:07.500> of<00:08:07.620> data<00:08:07.800> data<00:08:08.340> that 00:08:08.749 --> 00:08:08.759 align:start position:0% is like a package of data data that 00:08:08.759 --> 00:08:10.490 align:start position:0% is like a package of data data that contains<00:08:09.240> information<00:08:09.419> about<00:08:09.900> stuff<00:08:10.259> that 00:08:10.490 --> 00:08:10.500 align:start position:0% contains information about stuff that 00:08:10.500 --> 00:08:11.870 align:start position:0% contains information about stuff that somebody<00:08:10.680> wants<00:08:11.039> to<00:08:11.099> do 00:08:11.870 --> 00:08:11.880 align:start position:0% somebody wants to do 00:08:11.880 --> 00:08:13.730 align:start position:0% somebody wants to do these<00:08:12.300> transactions<00:08:12.900> get<00:08:13.080> included<00:08:13.560> in 00:08:13.730 --> 00:08:13.740 align:start position:0% these transactions get included in 00:08:13.740 --> 00:08:16.189 align:start position:0% these transactions get included in blocks<00:08:14.160> every<00:08:14.819> block<00:08:15.120> emails<00:08:15.660> are<00:08:15.780> created<00:08:16.020> by 00:08:16.189 --> 00:08:16.199 align:start position:0% blocks every block emails are created by 00:08:16.199 --> 00:08:19.369 align:start position:0% blocks every block emails are created by by<00:08:16.680> a<00:08:16.919> validator<00:08:17.639> and<00:08:18.300> a<00:08:18.479> block<00:08:18.660> so<00:08:19.020> blocks 00:08:19.369 --> 00:08:19.379 align:start position:0% by a validator and a block so blocks 00:08:19.379 --> 00:08:20.450 align:start position:0% by a validator and a block so blocks already<00:08:19.560> just<00:08:19.800> these<00:08:19.979> packages<00:08:20.220> of 00:08:20.450 --> 00:08:20.460 align:start position:0% already just these packages of 00:08:20.460 --> 00:08:22.790 align:start position:0% already just these packages of transactions<00:08:21.120> and<00:08:21.660> one<00:08:21.900> new<00:08:22.020> block<00:08:22.259> comes 00:08:22.790 --> 00:08:22.800 align:start position:0% transactions and one new block comes 00:08:22.800 --> 00:08:25.369 align:start position:0% transactions and one new block comes every<00:08:22.919> slot<00:08:23.280> one<00:08:23.580> slot<00:08:23.940> is<00:08:24.060> 12<00:08:24.180> seconds<00:08:24.539> then 00:08:25.369 --> 00:08:25.379 align:start position:0% every slot one slot is 12 seconds then 00:08:25.379 --> 00:08:27.409 align:start position:0% every slot one slot is 12 seconds then we<00:08:25.560> have<00:08:25.680> attestations<00:08:26.419> attestations 00:08:27.409 --> 00:08:27.419 align:start position:0% we have attestations attestations 00:08:27.419 --> 00:08:30.830 align:start position:0% we have attestations attestations confirm<00:08:28.080> blocks<00:08:28.500> right<00:08:28.800> so<00:08:29.520> attestations<00:08:30.479> are 00:08:30.830 --> 00:08:30.840 align:start position:0% confirm blocks right so attestations are 00:08:30.840 --> 00:08:32.329 align:start position:0% confirm blocks right so attestations are like<00:08:31.020> these<00:08:31.259> messages<00:08:31.500> signed<00:08:32.099> by<00:08:32.159> other 00:08:32.329 --> 00:08:32.339 align:start position:0% like these messages signed by other 00:08:32.339 --> 00:08:35.510 align:start position:0% like these messages signed by other validators<00:08:33.000> that<00:08:33.599> basically<00:08:34.020> solidify<00:08:34.680> the 00:08:35.510 --> 00:08:35.520 align:start position:0% validators that basically solidify the 00:08:35.520 --> 00:08:38.029 align:start position:0% validators that basically solidify the position<00:08:35.700> of<00:08:36.180> a<00:08:36.419> block<00:08:36.599> inside<00:08:37.260> of<00:08:37.500> the<00:08:37.620> API 00:08:38.029 --> 00:08:38.039 align:start position:0% position of a block inside of the API 00:08:38.039 --> 00:08:39.589 align:start position:0% position of a block inside of the API blockchain<00:08:38.339> right<00:08:38.640> so<00:08:38.820> when<00:08:39.060> you<00:08:39.180> a<00:08:39.419> block 00:08:39.589 --> 00:08:39.599 align:start position:0% blockchain right so when you a block 00:08:39.599 --> 00:08:41.389 align:start position:0% blockchain right so when you a block gets<00:08:39.959> published<00:08:40.380> and<00:08:40.800> then<00:08:40.979> that<00:08:41.159> block 00:08:41.389 --> 00:08:41.399 align:start position:0% gets published and then that block 00:08:41.399 --> 00:08:43.250 align:start position:0% gets published and then that block within<00:08:42.240> a<00:08:42.360> few<00:08:42.539> seconds<00:08:42.719> it<00:08:43.140> almost 00:08:43.250 --> 00:08:43.260 align:start position:0% within a few seconds it almost 00:08:43.260 --> 00:08:44.630 align:start position:0% within a few seconds it almost immediately<00:08:43.740> gets<00:08:44.099> thousands<00:08:44.520> of 00:08:44.630 --> 00:08:44.640 align:start position:0% immediately gets thousands of 00:08:44.640 --> 00:08:47.030 align:start position:0% immediately gets thousands of attestations<00:08:45.060> supporting<00:08:45.600> it<00:08:45.779> and<00:08:46.500> that<00:08:46.860> and 00:08:47.030 --> 00:08:47.040 align:start position:0% attestations supporting it and that and 00:08:47.040 --> 00:08:48.769 align:start position:0% attestations supporting it and that and it<00:08:47.220> solidifies<00:08:47.700> that<00:08:47.880> walk's<00:08:48.360> position<00:08:48.480> in 00:08:48.769 --> 00:08:48.779 align:start position:0% it solidifies that walk's position in 00:08:48.779 --> 00:08:51.230 align:start position:0% it solidifies that walk's position in the<00:08:48.959> chain<00:08:49.140> such<00:08:49.860> that<00:08:50.220> other<00:08:50.459> blocks<00:08:51.060> that 00:08:51.230 --> 00:08:51.240 align:start position:0% the chain such that other blocks that 00:08:51.240 --> 00:08:52.910 align:start position:0% the chain such that other blocks that compete<00:08:51.600> with<00:08:51.720> that<00:08:51.899> block<00:08:52.080> that<00:08:52.440> like<00:08:52.620> also 00:08:52.910 --> 00:08:52.920 align:start position:0% compete with that block that like also 00:08:52.920 --> 00:08:54.970 align:start position:0% compete with that block that like also try<00:08:53.100> to<00:08:53.279> claim<00:08:53.519> that<00:08:53.760> their 00:08:54.970 --> 00:08:54.980 align:start position:0% try to claim that their 00:08:54.980 --> 00:08:57.110 align:start position:0% try to claim that their you<00:08:55.980> know<00:08:56.100> that<00:08:56.399> are<00:08:56.519> not<00:08:56.640> kind<00:08:56.880> of<00:08:57.000> children 00:08:57.110 --> 00:08:57.120 align:start position:0% you know that are not kind of children 00:08:57.120 --> 00:08:58.550 align:start position:0% you know that are not kind of children of<00:08:57.420> that<00:08:57.600> block<00:08:57.720> but<00:08:58.019> that<00:08:58.140> are<00:08:58.260> you<00:08:58.500> know 00:08:58.550 --> 00:08:58.560 align:start position:0% of that block but that are you know 00:08:58.560 --> 00:08:59.750 align:start position:0% of that block but that are you know siblings<00:08:58.860> and<00:08:59.100> they<00:08:59.220> try<00:08:59.339> to<00:08:59.459> claim<00:08:59.640> that 00:08:59.750 --> 00:08:59.760 align:start position:0% siblings and they try to claim that 00:08:59.760 --> 00:09:01.550 align:start position:0% siblings and they try to claim that they're<00:08:59.880> the<00:09:00.120> real<00:09:00.180> history<00:09:00.420> those<00:09:01.140> blocks 00:09:01.550 --> 00:09:01.560 align:start position:0% they're the real history those blocks 00:09:01.560 --> 00:09:03.170 align:start position:0% they're the real history those blocks are<00:09:01.680> not<00:09:01.860> not<00:09:02.279> going<00:09:02.519> to<00:09:02.640> be<00:09:02.760> able<00:09:02.880> to<00:09:03.000> get 00:09:03.170 --> 00:09:03.180 align:start position:0% are not not going to be able to get 00:09:03.180 --> 00:09:06.050 align:start position:0% are not not going to be able to get through<00:09:03.360> right<00:09:03.720> so<00:09:04.080> in<00:09:04.980> as<00:09:05.220> Danny<00:09:05.820> mentioned 00:09:06.050 --> 00:09:06.060 align:start position:0% through right so in as Danny mentioned 00:09:06.060 --> 00:09:08.870 align:start position:0% through right so in as Danny mentioned you<00:09:06.240> know<00:09:06.300> in<00:09:06.540> the<00:09:06.720> entire<00:09:07.620> almost<00:09:08.040> month<00:09:08.459> that 00:09:08.870 --> 00:09:08.880 align:start position:0% you know in the entire almost month that 00:09:08.880 --> 00:09:10.430 align:start position:0% you know in the entire almost month that post<00:09:09.120> merge<00:09:09.660> ethereum<00:09:09.959> has<00:09:10.200> been<00:09:10.320> running 00:09:10.430 --> 00:09:10.440 align:start position:0% post merge ethereum has been running 00:09:10.440 --> 00:09:13.670 align:start position:0% post merge ethereum has been running we've<00:09:10.800> only<00:09:10.920> had<00:09:11.220> like<00:09:11.459> 20<00:09:11.839> 26<00:09:12.839> reorgs<00:09:13.560> and 00:09:13.670 --> 00:09:13.680 align:start position:0% we've only had like 20 26 reorgs and 00:09:13.680 --> 00:09:15.650 align:start position:0% we've only had like 20 26 reorgs and that's<00:09:13.860> maybe<00:09:14.040> an<00:09:14.279> over<00:09:14.399> count<00:09:14.700> and<00:09:15.480> even 00:09:15.650 --> 00:09:15.660 align:start position:0% that's maybe an over count and even 00:09:15.660 --> 00:09:17.870 align:start position:0% that's maybe an over count and even those<00:09:16.080> cases<00:09:16.560> are<00:09:16.800> cases<00:09:17.100> where<00:09:17.339> a<00:09:17.459> block<00:09:17.640> is 00:09:17.870 --> 00:09:17.880 align:start position:0% those cases are cases where a block is 00:09:17.880 --> 00:09:19.490 align:start position:0% those cases are cases where a block is published<00:09:18.180> too<00:09:18.360> late<00:09:18.540> and<00:09:18.959> it<00:09:19.080> probably<00:09:19.260> did 00:09:19.490 --> 00:09:19.500 align:start position:0% published too late and it probably did 00:09:19.500 --> 00:09:21.829 align:start position:0% published too late and it probably did not<00:09:19.620> get<00:09:19.740> many<00:09:19.920> other<00:09:20.160> stations<00:09:20.700> right<00:09:20.940> so 00:09:21.829 --> 00:09:21.839 align:start position:0% not get many other stations right so 00:09:21.839 --> 00:09:24.350 align:start position:0% not get many other stations right so lots<00:09:22.680> of<00:09:22.740> attestations<00:09:23.279> in<00:09:23.940> parallel 00:09:24.350 --> 00:09:24.360 align:start position:0% lots of attestations in parallel 00:09:24.360 --> 00:09:26.329 align:start position:0% lots of attestations in parallel solidify<00:09:25.140> the<00:09:25.320> position<00:09:25.500> of<00:09:25.740> a<00:09:25.860> block<00:09:25.980> in<00:09:26.220> the 00:09:26.329 --> 00:09:26.339 align:start position:0% solidify the position of a block in the 00:09:26.339 --> 00:09:28.190 align:start position:0% solidify the position of a block in the chain<00:09:26.459> block<00:09:27.000> gets<00:09:27.360> published<00:09:27.600> block<00:09:27.779> gets 00:09:28.190 --> 00:09:28.200 align:start position:0% chain block gets published block gets 00:09:28.200 --> 00:09:29.750 align:start position:0% chain block gets published block gets attested<00:09:28.500> black<00:09:28.680> is<00:09:28.920> published<00:09:29.220> block<00:09:29.339> has<00:09:29.640> a 00:09:29.750 --> 00:09:29.760 align:start position:0% attested black is published block has a 00:09:29.760 --> 00:09:31.250 align:start position:0% attested black is published block has a tested<00:09:30.060> block<00:09:30.240> is<00:09:30.420> published<00:09:30.720> block<00:09:30.899> gets 00:09:31.250 --> 00:09:31.260 align:start position:0% tested block is published block gets 00:09:31.260 --> 00:09:32.630 align:start position:0% tested block is published block gets attested<00:09:31.680> right 00:09:32.630 --> 00:09:32.640 align:start position:0% attested right 00:09:32.640 --> 00:09:35.210 align:start position:0% attested right people<00:09:33.060> understand 00:09:35.210 --> 00:09:35.220 align:start position:0% people understand 00:09:35.220 --> 00:09:38.990 align:start position:0% people understand um<00:09:35.760> raise<00:09:36.120> your<00:09:36.360> hand<00:09:36.480> a<00:09:36.660> few<00:09:36.779> I<00:09:37.140> understand 00:09:38.990 --> 00:09:39.000 align:start position:0% um raise your hand a few I understand 00:09:39.000 --> 00:09:41.210 align:start position:0% um raise your hand a few I understand okay<00:09:39.600> wow<00:09:40.200> it's<00:09:40.320> like<00:09:40.500> more<00:09:40.980> people 00:09:41.210 --> 00:09:41.220 align:start position:0% okay wow it's like more people 00:09:41.220 --> 00:09:42.949 align:start position:0% okay wow it's like more people understand<00:09:41.459> this<00:09:42.000> than<00:09:42.300> have<00:09:42.480> a<00:09:42.540> refrigerator 00:09:42.949 --> 00:09:42.959 align:start position:0% understand this than have a refrigerator 00:09:42.959 --> 00:09:45.829 align:start position:0% understand this than have a refrigerator this<00:09:43.260> is<00:09:43.380> like<00:09:43.500> a<00:09:43.680> basic<00:09:44.399> okay 00:09:45.829 --> 00:09:45.839 align:start position:0% this is like a basic okay 00:09:45.839 --> 00:09:47.389 align:start position:0% this is like a basic okay so 00:09:47.389 --> 00:09:47.399 align:start position:0% so 00:09:47.399 --> 00:09:49.490 align:start position:0% so let's<00:09:48.000> talk<00:09:48.120> about<00:09:48.300> what<00:09:48.600> happens<00:09:48.779> inside<00:09:49.260> of 00:09:49.490 --> 00:09:49.500 align:start position:0% let's talk about what happens inside of 00:09:49.500 --> 00:09:51.769 align:start position:0% let's talk about what happens inside of a<00:09:49.560> blockchain<00:09:49.920> right<00:09:50.220> so<00:09:50.580> uh<00:09:50.880> you<00:09:51.660> know 00:09:51.769 --> 00:09:51.779 align:start position:0% a blockchain right so uh you know 00:09:51.779 --> 00:09:54.829 align:start position:0% a blockchain right so uh you know there's<00:09:52.440> the<00:09:53.100> blockchain<00:09:53.459> keeps<00:09:54.000> track<00:09:54.180> of<00:09:54.839> um 00:09:54.829 --> 00:09:54.839 align:start position:0% there's the blockchain keeps track of um 00:09:54.839 --> 00:09:57.590 align:start position:0% there's the blockchain keeps track of um information<00:09:55.140> that<00:09:55.980> we<00:09:56.220> call<00:09:56.399> State<00:09:56.700> and<00:09:57.420> the 00:09:57.590 --> 00:09:57.600 align:start position:0% information that we call State and the 00:09:57.600 --> 00:09:59.449 align:start position:0% information that we call State and the the<00:09:58.260> state<00:09:58.440> that<00:09:58.620> the<00:09:58.740> blockchain<00:09:59.100> keeps 00:09:59.449 --> 00:09:59.459 align:start position:0% the state that the blockchain keeps 00:09:59.459 --> 00:10:01.610 align:start position:0% the state that the blockchain keeps track<00:09:59.580> of<00:09:59.820> is<00:10:00.300> made<00:10:00.480> up<00:10:00.660> of<00:10:00.839> accounts<00:10:01.320> right 00:10:01.610 --> 00:10:01.620 align:start position:0% track of is made up of accounts right 00:10:01.620 --> 00:10:03.850 align:start position:0% track of is made up of accounts right and<00:10:02.279> there's<00:10:02.399> two<00:10:02.640> types<00:10:02.940> of<00:10:03.060> accounts 00:10:03.850 --> 00:10:03.860 align:start position:0% and there's two types of accounts 00:10:03.860 --> 00:10:06.410 align:start position:0% and there's two types of accounts basically<00:10:04.860> you<00:10:05.459> can<00:10:05.519> think<00:10:05.700> of<00:10:05.880> them<00:10:06.060> for<00:10:06.240> now 00:10:06.410 --> 00:10:06.420 align:start position:0% basically you can think of them for now 00:10:06.420 --> 00:10:07.850 align:start position:0% basically you can think of them for now as<00:10:06.600> like<00:10:06.839> accounts<00:10:07.260> controlled<00:10:07.560> by<00:10:07.740> people 00:10:07.850 --> 00:10:07.860 align:start position:0% as like accounts controlled by people 00:10:07.860 --> 00:10:09.590 align:start position:0% as like accounts controlled by people and<00:10:08.100> accounts<00:10:08.459> controlled<00:10:08.760> by<00:10:08.880> robots<00:10:09.300> where 00:10:09.590 --> 00:10:09.600 align:start position:0% and accounts controlled by robots where 00:10:09.600 --> 00:10:11.990 align:start position:0% and accounts controlled by robots where the<00:10:09.839> robots<00:10:10.140> also<00:10:10.560> are<00:10:10.860> also<00:10:11.399> only<00:10:11.580> exist 00:10:11.990 --> 00:10:12.000 align:start position:0% the robots also are also only exist 00:10:12.000 --> 00:10:14.630 align:start position:0% the robots also are also only exist inside<00:10:12.240> of<00:10:12.540> the<00:10:12.660> chain<00:10:12.839> right<00:10:13.260> so<00:10:14.040> an 00:10:14.630 --> 00:10:14.640 align:start position:0% inside of the chain right so an 00:10:14.640 --> 00:10:16.850 align:start position:0% inside of the chain right so an externally<00:10:15.000> owned<00:10:15.360> account<00:10:15.420> is<00:10:16.019> this<00:10:16.620> is<00:10:16.740> an 00:10:16.850 --> 00:10:16.860 align:start position:0% externally owned account is this is an 00:10:16.860 --> 00:10:18.590 align:start position:0% externally owned account is this is an account<00:10:17.040> that<00:10:17.279> represents<00:10:17.760> a<00:10:17.880> user<00:10:18.180> right<00:10:18.360> so 00:10:18.590 --> 00:10:18.600 align:start position:0% account that represents a user right so 00:10:18.600 --> 00:10:21.050 align:start position:0% account that represents a user right so like<00:10:18.899> for<00:10:19.080> example<00:10:19.380> if<00:10:19.980> you<00:10:20.220> hold<00:10:20.399> East<00:10:20.700> today 00:10:21.050 --> 00:10:21.060 align:start position:0% like for example if you hold East today 00:10:21.060 --> 00:10:23.509 align:start position:0% like for example if you hold East today that<00:10:21.899> ease<00:10:22.260> is<00:10:22.500> stored<00:10:22.800> inside<00:10:23.040> of<00:10:23.339> your 00:10:23.509 --> 00:10:23.519 align:start position:0% that ease is stored inside of your 00:10:23.519 --> 00:10:25.190 align:start position:0% that ease is stored inside of your externally<00:10:23.940> owned<00:10:24.300> account<00:10:24.360> right<00:10:24.660> so<00:10:24.899> there 00:10:25.190 --> 00:10:25.200 align:start position:0% externally owned account right so there 00:10:25.200 --> 00:10:27.829 align:start position:0% externally owned account right so there exists<00:10:25.740> a<00:10:26.160> record<00:10:26.399> which<00:10:26.820> is<00:10:26.880> like<00:10:27.060> an<00:10:27.240> eoa 00:10:27.829 --> 00:10:27.839 align:start position:0% exists a record which is like an eoa 00:10:27.839 --> 00:10:29.389 align:start position:0% exists a record which is like an eoa that<00:10:28.260> is<00:10:28.380> in<00:10:28.620> the<00:10:28.680> blockchain<00:10:29.040> that<00:10:29.279> the 00:10:29.389 --> 00:10:29.399 align:start position:0% that is in the blockchain that the 00:10:29.399 --> 00:10:31.970 align:start position:0% that is in the blockchain that the blockchain<00:10:29.700> keeps<00:10:30.060> track<00:10:30.180> of<00:10:30.500> and<00:10:31.500> that 00:10:31.970 --> 00:10:31.980 align:start position:0% blockchain keeps track of and that 00:10:31.980 --> 00:10:33.530 align:start position:0% blockchain keeps track of and that object<00:10:32.279> contains<00:10:32.760> the<00:10:32.940> record<00:10:33.060> saying<00:10:33.480> you 00:10:33.530 --> 00:10:33.540 align:start position:0% object contains the record saying you 00:10:33.540 --> 00:10:34.970 align:start position:0% object contains the record saying you know<00:10:33.660> hey<00:10:33.779> this<00:10:34.080> address<00:10:34.260> contains<00:10:34.860> this 00:10:34.970 --> 00:10:34.980 align:start position:0% know hey this address contains this 00:10:34.980 --> 00:10:37.370 align:start position:0% know hey this address contains this amount<00:10:35.220> of<00:10:35.399> eth<00:10:36.060> the<00:10:36.600> other<00:10:36.839> kind<00:10:37.080> of<00:10:37.200> account 00:10:37.370 --> 00:10:37.380 align:start position:0% amount of eth the other kind of account 00:10:37.380 --> 00:10:40.009 align:start position:0% amount of eth the other kind of account is<00:10:37.860> what<00:10:38.040> we<00:10:38.160> call<00:10:38.279> a<00:10:38.459> contract<00:10:38.760> a<00:10:39.300> contract<00:10:39.660> is 00:10:40.009 --> 00:10:40.019 align:start position:0% is what we call a contract a contract is 00:10:40.019 --> 00:10:42.470 align:start position:0% is what we call a contract a contract is like<00:10:40.320> a<00:10:40.800> computer<00:10:40.980> program<00:10:41.399> that<00:10:42.060> lives<00:10:42.300> on 00:10:42.470 --> 00:10:42.480 align:start position:0% like a computer program that lives on 00:10:42.480 --> 00:10:44.509 align:start position:0% like a computer program that lives on chain<00:10:42.660> the<00:10:43.080> code<00:10:43.560> of<00:10:43.800> that<00:10:43.920> computer<00:10:44.100> program 00:10:44.509 --> 00:10:44.519 align:start position:0% chain the code of that computer program 00:10:44.519 --> 00:10:46.670 align:start position:0% chain the code of that computer program is<00:10:44.940> on<00:10:45.060> chain<00:10:45.300> so 00:10:46.670 --> 00:10:46.680 align:start position:0% is on chain so 00:10:46.680 --> 00:10:48.230 align:start position:0% is on chain so the<00:10:47.040> chain<00:10:47.279> stores<00:10:47.519> the<00:10:47.820> code<00:10:47.940> of<00:10:48.120> the 00:10:48.230 --> 00:10:48.240 align:start position:0% the chain stores the code of the 00:10:48.240 --> 00:10:50.569 align:start position:0% the chain stores the code of the contract<00:10:48.540> the<00:10:49.200> chain<00:10:49.380> stores<00:10:49.740> internal 00:10:50.569 --> 00:10:50.579 align:start position:0% contract the chain stores internal 00:10:50.579 --> 00:10:52.490 align:start position:0% contract the chain stores internal storage<00:10:50.820> of<00:10:51.120> the<00:10:51.300> contract<00:10:51.600> internal<00:10:52.260> storage 00:10:52.490 --> 00:10:52.500 align:start position:0% storage of the contract internal storage 00:10:52.500 --> 00:10:54.710 align:start position:0% storage of the contract internal storage just<00:10:52.800> like<00:10:53.040> memory<00:10:53.760> that<00:10:53.940> that<00:10:54.120> contract<00:10:54.480> has 00:10:54.710 --> 00:10:54.720 align:start position:0% just like memory that that contract has 00:10:54.720 --> 00:10:56.990 align:start position:0% just like memory that that contract has the<00:10:54.899> ability<00:10:55.079> to<00:10:55.320> update<00:10:55.620> and 00:10:56.990 --> 00:10:57.000 align:start position:0% the ability to update and 00:10:57.000 --> 00:10:59.990 align:start position:0% the ability to update and contracts<00:10:57.959> are<00:10:58.560> basically<00:10:59.279> how<00:10:59.760> all 00:10:59.990 --> 00:11:00.000 align:start position:0% contracts are basically how all 00:11:00.000 --> 00:11:02.690 align:start position:0% contracts are basically how all applications<00:11:00.660> that<00:11:01.620> that<00:11:01.920> are<00:11:02.100> in<00:11:02.220> ethereum 00:11:02.690 --> 00:11:02.700 align:start position:0% applications that that are in ethereum 00:11:02.700 --> 00:11:04.670 align:start position:0% applications that that are in ethereum work<00:11:02.940> right<00:11:03.120> so<00:11:03.300> an<00:11:03.480> application<00:11:03.959> is 00:11:04.670 --> 00:11:04.680 align:start position:0% work right so an application is 00:11:04.680 --> 00:11:07.310 align:start position:0% work right so an application is generally<00:11:05.220> has<00:11:05.519> an<00:11:05.760> on-chain<00:11:06.240> component<00:11:06.720> that 00:11:07.310 --> 00:11:07.320 align:start position:0% generally has an on-chain component that 00:11:07.320 --> 00:11:09.290 align:start position:0% generally has an on-chain component that kind<00:11:07.500> of<00:11:07.560> controls<00:11:08.459> the<00:11:08.519> business<00:11:08.700> logic<00:11:09.180> of 00:11:09.290 --> 00:11:09.300 align:start position:0% kind of controls the business logic of 00:11:09.300 --> 00:11:12.050 align:start position:0% kind of controls the business logic of that<00:11:09.420> application<00:11:09.899> that<00:11:10.740> generally<00:11:11.100> is<00:11:11.519> one 00:11:12.050 --> 00:11:12.060 align:start position:0% that application that generally is one 00:11:12.060 --> 00:11:15.230 align:start position:0% that application that generally is one or<00:11:12.240> a<00:11:12.480> set<00:11:12.600> of<00:11:12.839> contracts<00:11:13.500> so 00:11:15.230 --> 00:11:15.240 align:start position:0% or a set of contracts so 00:11:15.240 --> 00:11:18.170 align:start position:0% or a set of contracts so what<00:11:15.779> do<00:11:15.959> contracts<00:11:16.380> look<00:11:16.560> like<00:11:17.040> um<00:11:17.040> so<00:11:17.579> this 00:11:18.170 --> 00:11:18.180 align:start position:0% what do contracts look like um so this 00:11:18.180 --> 00:11:20.810 align:start position:0% what do contracts look like um so this is<00:11:18.240> an<00:11:18.420> example<00:11:18.720> of<00:11:19.019> a<00:11:19.200> source<00:11:19.800> code<00:11:19.980> of<00:11:20.579> a 00:11:20.810 --> 00:11:20.820 align:start position:0% is an example of a source code of a 00:11:20.820 --> 00:11:22.550 align:start position:0% is an example of a source code of a simple<00:11:21.000> smart<00:11:21.360> contract<00:11:21.720> and<00:11:22.019> this<00:11:22.200> is<00:11:22.320> by<00:11:22.440> the 00:11:22.550 --> 00:11:22.560 align:start position:0% simple smart contract and this is by the 00:11:22.560 --> 00:11:24.710 align:start position:0% simple smart contract and this is by the way<00:11:22.620> in<00:11:22.740> a<00:11:22.920> language<00:11:23.040> called<00:11:23.399> a<00:11:23.579> Viper<00:11:24.060> it's<00:11:24.360> a 00:11:24.710 --> 00:11:24.720 align:start position:0% way in a language called a Viper it's a 00:11:24.720 --> 00:11:28.069 align:start position:0% way in a language called a Viper it's a a<00:11:25.320> less<00:11:26.279> well-known<00:11:26.700> language<00:11:26.940> it's<00:11:27.300> the<00:11:27.540> kind 00:11:28.069 --> 00:11:28.079 align:start position:0% a less well-known language it's the kind 00:11:28.079 --> 00:11:30.230 align:start position:0% a less well-known language it's the kind of<00:11:28.140> largest<00:11:28.500> alternative<00:11:29.040> to<00:11:29.279> solidity<00:11:29.760> and 00:11:30.230 --> 00:11:30.240 align:start position:0% of largest alternative to solidity and 00:11:30.240 --> 00:11:32.990 align:start position:0% of largest alternative to solidity and so<00:11:30.540> if<00:11:31.260> people<00:11:31.500> aesthetically<00:11:32.279> prefer<00:11:32.640> coding 00:11:32.990 --> 00:11:33.000 align:start position:0% so if people aesthetically prefer coding 00:11:33.000 --> 00:11:34.850 align:start position:0% so if people aesthetically prefer coding in<00:11:33.180> Python<00:11:33.540> syntax<00:11:33.959> I<00:11:34.140> mean<00:11:34.260> like<00:11:34.560> I 00:11:34.850 --> 00:11:34.860 align:start position:0% in Python syntax I mean like I 00:11:34.860 --> 00:11:36.410 align:start position:0% in Python syntax I mean like I personally<00:11:35.160> think<00:11:35.399> python<00:11:35.880> is<00:11:36.000> like<00:11:36.180> way 00:11:36.410 --> 00:11:36.420 align:start position:0% personally think python is like way 00:11:36.420 --> 00:11:38.210 align:start position:0% personally think python is like way aesthetically<00:11:36.899> Superior<00:11:37.380> to<00:11:37.560> anything<00:11:37.740> using 00:11:38.210 --> 00:11:38.220 align:start position:0% aesthetically Superior to anything using 00:11:38.220 --> 00:11:39.949 align:start position:0% aesthetically Superior to anything using curly<00:11:38.519> braces<00:11:38.940> but<00:11:39.120> I<00:11:39.240> know<00:11:39.360> this<00:11:39.540> is<00:11:39.720> a 00:11:39.949 --> 00:11:39.959 align:start position:0% curly braces but I know this is a 00:11:39.959 --> 00:11:41.750 align:start position:0% curly braces but I know this is a controversial<00:11:40.680> topic<00:11:41.100> and<00:11:41.220> like<00:11:41.399> half<00:11:41.579> of<00:11:41.700> you 00:11:41.750 --> 00:11:41.760 align:start position:0% controversial topic and like half of you 00:11:41.760 --> 00:11:43.370 align:start position:0% controversial topic and like half of you are<00:11:41.880> going<00:11:42.000> to<00:11:42.120> cancel<00:11:42.240> me 00:11:43.370 --> 00:11:43.380 align:start position:0% are going to cancel me 00:11:43.380 --> 00:11:44.930 align:start position:0% are going to cancel me um<00:11:43.500> but 00:11:44.930 --> 00:11:44.940 align:start position:0% um but 00:11:44.940 --> 00:11:48.050 align:start position:0% um but um you<00:11:45.180> know<00:11:45.300> if<00:11:46.140> uh<00:11:46.500> if<00:11:46.980> that's<00:11:47.100> you<00:11:47.399> or<00:11:47.820> if 00:11:48.050 --> 00:11:48.060 align:start position:0% um you know if uh if that's you or if 00:11:48.060 --> 00:11:50.329 align:start position:0% um you know if uh if that's you or if you<00:11:48.180> like<00:11:48.360> some<00:11:48.720> of<00:11:48.839> uh<00:11:49.019> Viper's<00:11:49.680> kind<00:11:50.220> of 00:11:50.329 --> 00:11:50.339 align:start position:0% you like some of uh Viper's kind of 00:11:50.339 --> 00:11:52.610 align:start position:0% you like some of uh Viper's kind of other<00:11:50.519> features<00:11:51.060> that<00:11:51.420> like<00:11:51.600> try<00:11:52.260> to<00:11:52.380> kind<00:11:52.560> of 00:11:52.610 --> 00:11:52.620 align:start position:0% other features that like try to kind of 00:11:52.620 --> 00:11:55.250 align:start position:0% other features that like try to kind of take<00:11:52.740> a<00:11:52.920> very<00:11:53.100> Pro<00:11:53.519> or<00:11:54.000> from<00:11:54.480> scratch<00:11:54.839> approach 00:11:55.250 --> 00:11:55.260 align:start position:0% take a very Pro or from scratch approach 00:11:55.260 --> 00:11:57.110 align:start position:0% take a very Pro or from scratch approach to<00:11:55.440> being<00:11:55.680> sort<00:11:56.160> of<00:11:56.279> more<00:11:56.459> restrictive<00:11:56.940> and 00:11:57.110 --> 00:11:57.120 align:start position:0% to being sort of more restrictive and 00:11:57.120 --> 00:11:58.370 align:start position:0% to being sort of more restrictive and more<00:11:57.240> secure<00:11:57.480> in<00:11:57.600> various<00:11:57.899> ways<00:11:58.200> you<00:11:58.320> can 00:11:58.370 --> 00:11:58.380 align:start position:0% more secure in various ways you can 00:11:58.380 --> 00:12:01.130 align:start position:0% more secure in various ways you can check<00:11:58.560> it<00:11:58.740> out<00:11:58.860> but<00:11:59.220> this<00:12:00.060> is<00:12:00.180> a<00:12:00.420> simple<00:12:00.899> you 00:12:01.130 --> 00:12:01.140 align:start position:0% check it out but this is a simple you 00:12:01.140 --> 00:12:03.350 align:start position:0% check it out but this is a simple you know<00:12:01.320> contract<00:12:01.740> for<00:12:02.160> Asia<00:12:02.880> domain<00:12:03.240> name 00:12:03.350 --> 00:12:03.360 align:start position:0% know contract for Asia domain name 00:12:03.360 --> 00:12:05.389 align:start position:0% know contract for Asia domain name registry<00:12:03.779> right<00:12:04.019> so<00:12:04.260> basically<00:12:04.680> the<00:12:05.279> same 00:12:05.389 --> 00:12:05.399 align:start position:0% registry right so basically the same 00:12:05.399 --> 00:12:07.130 align:start position:0% registry right so basically the same sort<00:12:05.579> of<00:12:05.700> thing<00:12:05.820> that<00:12:06.060> ens<00:12:06.480> is<00:12:06.660> trying<00:12:06.839> to<00:12:07.019> do 00:12:07.130 --> 00:12:07.140 align:start position:0% sort of thing that ens is trying to do 00:12:07.140 --> 00:12:09.350 align:start position:0% sort of thing that ens is trying to do right<00:12:07.380> so<00:12:07.680> what<00:12:08.279> do<00:12:08.399> we<00:12:08.519> have<00:12:08.640> here<00:12:08.820> right<00:12:09.060> so 00:12:09.350 --> 00:12:09.360 align:start position:0% right so what do we have here right so 00:12:09.360 --> 00:12:11.269 align:start position:0% right so what do we have here right so we<00:12:09.899> have<00:12:10.079> first<00:12:10.320> like<00:12:10.560> a<00:12:10.740> mapping<00:12:11.100> right 00:12:11.269 --> 00:12:11.279 align:start position:0% we have first like a mapping right 00:12:11.279 --> 00:12:14.449 align:start position:0% we have first like a mapping right domains<00:12:12.000> mapping<00:12:12.600> bytes<00:12:13.079> 32<00:12:13.500> we're<00:12:13.800> gonna<00:12:13.980> uh 00:12:14.449 --> 00:12:14.459 align:start position:0% domains mapping bytes 32 we're gonna uh 00:12:14.459 --> 00:12:17.030 align:start position:0% domains mapping bytes 32 we're gonna uh and<00:12:14.700> a<00:12:14.940> two<00:12:15.180> Asia<00:12:15.839> domain<00:12:16.260> right 00:12:17.030 --> 00:12:17.040 align:start position:0% and a two Asia domain right 00:12:17.040 --> 00:12:20.090 align:start position:0% and a two Asia domain right um 00:12:20.090 --> 00:12:20.100 align:start position:0% 00:12:20.100 --> 00:12:23.090 align:start position:0% right<00:12:20.640> so<00:12:21.240> the<00:12:21.540> bytes<00:12:21.839> 32<00:12:22.200> here<00:12:22.440> is<00:12:22.740> like 00:12:23.090 --> 00:12:23.100 align:start position:0% right so the bytes 32 here is like 00:12:23.100 --> 00:12:25.130 align:start position:0% right so the bytes 32 here is like basically<00:12:23.820> you<00:12:24.000> know<00:12:24.120> the<00:12:24.300> address<00:12:24.480> like<00:12:24.959> what 00:12:25.130 --> 00:12:25.140 align:start position:0% basically you know the address like what 00:12:25.140 --> 00:12:27.829 align:start position:0% basically you know the address like what the<00:12:25.260> domain<00:12:25.560> is<00:12:25.740> right<00:12:26.040> so<00:12:26.339> the<00:12:27.000> you<00:12:27.540> know<00:12:27.600> I'm 00:12:27.829 --> 00:12:27.839 align:start position:0% the domain is right so the you know I'm 00:12:27.839 --> 00:12:29.569 align:start position:0% the domain is right so the you know I'm just<00:12:28.019> kind<00:12:28.200> of<00:12:28.320> being<00:12:28.500> very<00:12:28.860> lazy<00:12:29.220> and<00:12:29.339> very 00:12:29.569 --> 00:12:29.579 align:start position:0% just kind of being very lazy and very 00:12:29.579 --> 00:12:31.310 align:start position:0% just kind of being very lazy and very simple<00:12:29.760> not<00:12:30.120> introducing<00:12:30.720> strings<00:12:31.140> they're 00:12:31.310 --> 00:12:31.320 align:start position:0% simple not introducing strings they're 00:12:31.320 --> 00:12:33.590 align:start position:0% simple not introducing strings they're variable<00:12:31.740> lengths<00:12:32.160> or<00:12:32.220> fancy<00:12:32.579> stuff<00:12:32.820> and<00:12:33.420> you 00:12:33.590 --> 00:12:33.600 align:start position:0% variable lengths or fancy stuff and you 00:12:33.600 --> 00:12:35.389 align:start position:0% variable lengths or fancy stuff and you know<00:12:33.720> if<00:12:33.899> you<00:12:34.019> want<00:12:34.200> to<00:12:34.320> like<00:12:34.500> register<00:12:34.920> George 00:12:35.389 --> 00:12:35.399 align:start position:0% know if you want to like register George 00:12:35.399 --> 00:12:37.550 align:start position:0% know if you want to like register George then<00:12:35.940> you<00:12:36.120> would<00:12:36.240> just<00:12:36.420> like<00:12:36.480> put<00:12:36.720> 26<00:12:37.200> zero 00:12:37.550 --> 00:12:37.560 align:start position:0% then you would just like put 26 zero 00:12:37.560 --> 00:12:38.990 align:start position:0% then you would just like put 26 zero bytes<00:12:37.800> and<00:12:37.920> you<00:12:38.040> would<00:12:38.160> like<00:12:38.279> stick<00:12:38.459> George<00:12:38.700> at 00:12:38.990 --> 00:12:39.000 align:start position:0% bytes and you would like stick George at 00:12:39.000 --> 00:12:41.210 align:start position:0% bytes and you would like stick George at the<00:12:39.120> end<00:12:39.240> and<00:12:39.959> uh<00:12:40.200> you<00:12:40.560> know<00:12:40.620> that<00:12:40.980> would<00:12:41.100> be 00:12:41.210 --> 00:12:41.220 align:start position:0% the end and uh you know that would be 00:12:41.220 --> 00:12:42.590 align:start position:0% the end and uh you know that would be the<00:12:41.399> key<00:12:41.519> in<00:12:41.700> the<00:12:41.820> mapping<00:12:42.060> and<00:12:42.300> then<00:12:42.420> the 00:12:42.590 --> 00:12:42.600 align:start position:0% the key in the mapping and then the 00:12:42.600 --> 00:12:44.990 align:start position:0% the key in the mapping and then the value<00:12:42.779> in<00:12:43.019> the<00:12:43.200> mapping<00:12:43.500> is<00:12:44.040> just<00:12:44.339> who<00:12:44.700> is<00:12:44.820> the 00:12:44.990 --> 00:12:45.000 align:start position:0% value in the mapping is just who is the 00:12:45.000 --> 00:12:46.730 align:start position:0% value in the mapping is just who is the owner<00:12:45.240> and<00:12:45.480> what<00:12:45.660> is<00:12:45.779> the<00:12:45.959> IP<00:12:46.200> address<00:12:46.380> that 00:12:46.730 --> 00:12:46.740 align:start position:0% owner and what is the IP address that 00:12:46.740 --> 00:12:50.150 align:start position:0% owner and what is the IP address that the<00:12:46.920> domain<00:12:47.420> corresponds<00:12:48.420> to<00:12:48.540> right<00:12:48.959> so<00:12:49.800> then 00:12:50.150 --> 00:12:50.160 align:start position:0% the domain corresponds to right so then 00:12:50.160 --> 00:12:52.190 align:start position:0% the domain corresponds to right so then we<00:12:50.339> have<00:12:50.459> two<00:12:50.700> functions<00:12:51.180> the<00:12:51.660> first<00:12:51.839> function 00:12:52.190 --> 00:12:52.200 align:start position:0% we have two functions the first function 00:12:52.200 --> 00:12:54.710 align:start position:0% we have two functions the first function is<00:12:52.440> set<00:12:52.680> owner<00:12:53.100> right<00:12:53.399> so<00:12:53.760> the<00:12:54.300> point<00:12:54.420> of<00:12:54.600> this 00:12:54.710 --> 00:12:54.720 align:start position:0% is set owner right so the point of this 00:12:54.720 --> 00:12:56.930 align:start position:0% is set owner right so the point of this function<00:12:55.019> is<00:12:55.260> basically<00:12:55.680> if<00:12:56.399> you<00:12:56.639> are<00:12:56.700> the 00:12:56.930 --> 00:12:56.940 align:start position:0% function is basically if you are the 00:12:56.940 --> 00:12:58.850 align:start position:0% function is basically if you are the owner<00:12:57.240> then<00:12:57.660> you<00:12:57.839> can<00:12:57.959> transfer<00:12:58.320> ownership<00:12:58.620> to 00:12:58.850 --> 00:12:58.860 align:start position:0% owner then you can transfer ownership to 00:12:58.860 --> 00:13:01.370 align:start position:0% owner then you can transfer ownership to a<00:12:59.040> new<00:12:59.160> owner<00:12:59.519> or<00:13:00.060> if<00:13:00.300> the<00:13:00.420> domain<00:13:00.779> is<00:13:00.959> not<00:13:01.200> yet 00:13:01.370 --> 00:13:01.380 align:start position:0% a new owner or if the domain is not yet 00:13:01.380 --> 00:13:03.350 align:start position:0% a new owner or if the domain is not yet claimed<00:13:01.980> then<00:13:02.339> you<00:13:02.579> can<00:13:02.700> call<00:13:02.880> this<00:13:03.060> function 00:13:03.350 --> 00:13:03.360 align:start position:0% claimed then you can call this function 00:13:03.360 --> 00:13:05.090 align:start position:0% claimed then you can call this function set<00:13:03.660> it<00:13:03.839> to<00:13:03.959> yourself<00:13:04.200> or<00:13:04.500> set<00:13:04.680> it<00:13:04.860> to<00:13:04.980> some 00:13:05.090 --> 00:13:05.100 align:start position:0% set it to yourself or set it to some 00:13:05.100 --> 00:13:06.949 align:start position:0% set it to yourself or set it to some owner<00:13:05.459> and<00:13:05.700> you<00:13:05.880> can<00:13:05.940> become<00:13:06.180> the<00:13:06.420> owner<00:13:06.660> right 00:13:06.949 --> 00:13:06.959 align:start position:0% owner and you can become the owner right 00:13:06.959 --> 00:13:09.590 align:start position:0% owner and you can become the owner right so<00:13:07.680> you<00:13:07.860> should<00:13:08.040> be<00:13:08.160> able<00:13:08.339> to<00:13:08.519> you<00:13:09.000> know<00:13:09.120> if<00:13:09.420> you 00:13:09.590 --> 00:13:09.600 align:start position:0% so you should be able to you know if you 00:13:09.600 --> 00:13:11.329 align:start position:0% so you should be able to you know if you have<00:13:09.779> any<00:13:10.079> programming<00:13:10.560> experience<00:13:10.980> just 00:13:11.329 --> 00:13:11.339 align:start position:0% have any programming experience just 00:13:11.339 --> 00:13:12.769 align:start position:0% have any programming experience just kind<00:13:11.519> of<00:13:11.639> read<00:13:12.000> the<00:13:12.240> code<00:13:12.360> and<00:13:12.600> understand 00:13:12.769 --> 00:13:12.779 align:start position:0% kind of read the code and understand 00:13:12.779 --> 00:13:15.410 align:start position:0% kind of read the code and understand what's<00:13:13.260> going<00:13:13.440> on<00:13:13.560> right<00:13:13.860> basically<00:13:14.339> you<00:13:15.180> look 00:13:15.410 --> 00:13:15.420 align:start position:0% what's going on right basically you look 00:13:15.420 --> 00:13:17.750 align:start position:0% what's going on right basically you look at<00:13:15.600> what<00:13:16.200> the<00:13:16.320> owner<00:13:16.620> of<00:13:16.860> the<00:13:17.160> particular 00:13:17.750 --> 00:13:17.760 align:start position:0% at what the owner of the particular 00:13:17.760 --> 00:13:19.310 align:start position:0% at what the owner of the particular domain<00:13:18.240> that<00:13:18.420> you're<00:13:18.540> looking<00:13:18.779> at<00:13:18.959> right<00:13:19.200> now 00:13:19.310 --> 00:13:19.320 align:start position:0% domain that you're looking at right now 00:13:19.320 --> 00:13:21.829 align:start position:0% domain that you're looking at right now is<00:13:19.980> and<00:13:20.339> if<00:13:20.579> that<00:13:20.700> owner<00:13:21.000> is<00:13:21.120> zero<00:13:21.420> or<00:13:21.540> if<00:13:21.720> that 00:13:21.829 --> 00:13:21.839 align:start position:0% is and if that owner is zero or if that 00:13:21.839 --> 00:13:23.690 align:start position:0% is and if that owner is zero or if that owner<00:13:22.139> is<00:13:22.260> you<00:13:22.440> then<00:13:22.860> you<00:13:23.040> can<00:13:23.100> set<00:13:23.279> the<00:13:23.459> owner 00:13:23.690 --> 00:13:23.700 align:start position:0% owner is you then you can set the owner 00:13:23.700 --> 00:13:25.670 align:start position:0% owner is you then you can set the owner to<00:13:23.820> whatever<00:13:23.940> you<00:13:24.180> want<00:13:24.300> right<00:13:24.660> so<00:13:25.260> that's<00:13:25.380> one 00:13:25.670 --> 00:13:25.680 align:start position:0% to whatever you want right so that's one 00:13:25.680 --> 00:13:26.990 align:start position:0% to whatever you want right so that's one function<00:13:25.920> and<00:13:26.160> then<00:13:26.279> the<00:13:26.459> other<00:13:26.519> function<00:13:26.820> is 00:13:26.990 --> 00:13:27.000 align:start position:0% function and then the other function is 00:13:27.000 --> 00:13:28.550 align:start position:0% function and then the other function is well<00:13:27.300> if<00:13:27.420> you<00:13:27.600> are<00:13:27.720> the<00:13:27.839> owner<00:13:28.079> you<00:13:28.320> can<00:13:28.380> set 00:13:28.550 --> 00:13:28.560 align:start position:0% well if you are the owner you can set 00:13:28.560 --> 00:13:31.129 align:start position:0% well if you are the owner you can set the<00:13:28.740> IP<00:13:29.040> so 00:13:31.129 --> 00:13:31.139 align:start position:0% the IP so 00:13:31.139 --> 00:13:32.870 align:start position:0% the IP so what's<00:13:31.740> actually<00:13:31.980> going<00:13:32.279> on<00:13:32.399> here<00:13:32.700> right 00:13:32.870 --> 00:13:32.880 align:start position:0% what's actually going on here right 00:13:32.880 --> 00:13:34.490 align:start position:0% what's actually going on here right basically<00:13:33.300> we<00:13:33.540> have<00:13:33.660> these<00:13:33.959> functions<00:13:34.260> and 00:13:34.490 --> 00:13:34.500 align:start position:0% basically we have these functions and 00:13:34.500 --> 00:13:36.110 align:start position:0% basically we have these functions and it's<00:13:34.620> a<00:13:34.800> piece<00:13:34.980> of<00:13:35.040> code<00:13:35.220> how<00:13:35.760> does<00:13:35.940> this 00:13:36.110 --> 00:13:36.120 align:start position:0% it's a piece of code how does this 00:13:36.120 --> 00:13:38.870 align:start position:0% it's a piece of code how does this actually<00:13:36.420> kind<00:13:37.200> of<00:13:37.320> translate<00:13:37.740> to<00:13:38.220> what's 00:13:38.870 --> 00:13:38.880 align:start position:0% actually kind of translate to what's 00:13:38.880 --> 00:13:40.550 align:start position:0% actually kind of translate to what's happening<00:13:39.240> on<00:13:39.420> a<00:13:39.540> chain<00:13:39.720> so<00:13:40.139> this<00:13:40.260> is<00:13:40.380> a 00:13:40.550 --> 00:13:40.560 align:start position:0% happening on a chain so this is a 00:13:40.560 --> 00:13:42.550 align:start position:0% happening on a chain so this is a transaction<00:13:41.160> flow<00:13:41.519> example<00:13:41.880> right<00:13:42.120> so 00:13:42.550 --> 00:13:42.560 align:start position:0% transaction flow example right so 00:13:42.560 --> 00:13:46.009 align:start position:0% transaction flow example right so basically<00:13:43.639> what<00:13:44.639> we<00:13:44.760> have<00:13:44.940> here<00:13:45.240> is<00:13:45.540> you<00:13:45.959> know 00:13:46.009 --> 00:13:46.019 align:start position:0% basically what we have here is you know 00:13:46.019 --> 00:13:48.949 align:start position:0% basically what we have here is you know you<00:13:46.260> have<00:13:46.440> a<00:13:46.920> the<00:13:47.160> contract<00:13:47.940> that's<00:13:48.240> the<00:13:48.540> a 00:13:48.949 --> 00:13:48.959 align:start position:0% you have a the contract that's the a 00:13:48.959 --> 00:13:50.509 align:start position:0% you have a the contract that's the a kind<00:13:49.139> of<00:13:49.260> bubble<00:13:49.560> on<00:13:49.620> the<00:13:49.800> bottom<00:13:49.980> the<00:13:50.220> zero 00:13:50.509 --> 00:13:50.519 align:start position:0% kind of bubble on the bottom the zero 00:13:50.519 --> 00:13:55.490 align:start position:0% kind of bubble on the bottom the zero x849<00:13:51.420> c41<00:13:51.959> down<00:13:52.260> there<00:13:52.380> right<00:13:52.560> that<00:13:53.459> is<00:13:53.760> a<00:13:54.660> an 00:13:55.490 --> 00:13:55.500 align:start position:0% x849 c41 down there right that is a an 00:13:55.500 --> 00:13:57.590 align:start position:0% x849 c41 down there right that is a an account<00:13:55.740> it<00:13:56.040> is<00:13:56.220> a<00:13:56.399> contract<00:13:56.700> account<00:13:57.000> and 00:13:57.590 --> 00:13:57.600 align:start position:0% account it is a contract account and 00:13:57.600 --> 00:13:59.269 align:start position:0% account it is a contract account and that<00:13:57.779> contract<00:13:58.139> account<00:13:58.380> is<00:13:58.740> going<00:13:58.920> to<00:13:58.980> have<00:13:59.100> a 00:13:59.269 --> 00:13:59.279 align:start position:0% that contract account is going to have a 00:13:59.279 --> 00:14:01.610 align:start position:0% that contract account is going to have a piece<00:13:59.459> of<00:13:59.579> code<00:13:59.700> what<00:14:00.300> is<00:14:00.480> that<00:14:00.660> code<00:14:00.899> it's<00:14:01.440> the 00:14:01.610 --> 00:14:01.620 align:start position:0% piece of code what is that code it's the 00:14:01.620 --> 00:14:03.710 align:start position:0% piece of code what is that code it's the compiled<00:14:02.100> version<00:14:02.279> of<00:14:02.519> this<00:14:02.700> right<00:14:03.060> so<00:14:03.540> that 00:14:03.710 --> 00:14:03.720 align:start position:0% compiled version of this right so that 00:14:03.720 --> 00:14:07.250 align:start position:0% compiled version of this right so that lives<00:14:04.019> on<00:14:04.139> chain<00:14:04.380> and<00:14:05.279> then<00:14:05.459> you<00:14:06.000> have<00:14:06.260> that 00:14:07.250 --> 00:14:07.260 align:start position:0% lives on chain and then you have that 00:14:07.260 --> 00:14:09.050 align:start position:0% lives on chain and then you have that contract<00:14:07.680> and<00:14:07.920> it<00:14:08.279> also<00:14:08.519> has<00:14:08.639> some<00:14:08.880> storage 00:14:09.050 --> 00:14:09.060 align:start position:0% contract and it also has some storage 00:14:09.060 --> 00:14:12.050 align:start position:0% contract and it also has some storage now<00:14:10.440> at<00:14:10.980> the<00:14:11.100> top<00:14:11.160> we<00:14:11.399> have<00:14:11.519> a<00:14:11.639> transaction 00:14:12.050 --> 00:14:12.060 align:start position:0% now at the top we have a transaction 00:14:12.060 --> 00:14:13.690 align:start position:0% now at the top we have a transaction right<00:14:12.360> so<00:14:12.779> as<00:14:12.959> we<00:14:13.139> mentioned<00:14:13.440> before 00:14:13.690 --> 00:14:13.700 align:start position:0% right so as we mentioned before 00:14:13.700 --> 00:14:15.710 align:start position:0% right so as we mentioned before transactions<00:14:14.700> are<00:14:14.880> like<00:14:15.060> these<00:14:15.360> packaged 00:14:15.710 --> 00:14:15.720 align:start position:0% transactions are like these packaged 00:14:15.720 --> 00:14:18.470 align:start position:0% transactions are like these packaged objects<00:14:16.260> that<00:14:16.440> represent<00:14:17.060> requests<00:14:18.060> to<00:14:18.300> do 00:14:18.470 --> 00:14:18.480 align:start position:0% objects that represent requests to do 00:14:18.480 --> 00:14:20.750 align:start position:0% objects that represent requests to do something<00:14:18.720> so<00:14:19.500> in<00:14:19.800> this<00:14:19.920> case 00:14:20.750 --> 00:14:20.760 align:start position:0% something so in this case 00:14:20.760 --> 00:14:22.069 align:start position:0% something so in this case um<00:14:20.820> you<00:14:21.060> will<00:14:21.180> we're<00:14:21.600> going<00:14:21.720> to<00:14:21.779> make<00:14:21.899> a 00:14:22.069 --> 00:14:22.079 align:start position:0% um you will we're going to make a 00:14:22.079 --> 00:14:26.269 align:start position:0% um you will we're going to make a request<00:14:22.639> to<00:14:23.639> change<00:14:24.600> the<00:14:25.139> basically<00:14:25.740> calls<00:14:26.160> on 00:14:26.269 --> 00:14:26.279 align:start position:0% request to change the basically calls on 00:14:26.279 --> 00:14:27.769 align:start position:0% request to change the basically calls on your<00:14:26.459> set<00:14:26.639> address<00:14:26.820> right<00:14:27.120> so<00:14:27.360> we're<00:14:27.480> going<00:14:27.660> to 00:14:27.769 --> 00:14:27.779 align:start position:0% your set address right so we're going to 00:14:27.779 --> 00:14:29.629 align:start position:0% your set address right so we're going to call<00:14:28.139> it<00:14:28.380> with<00:14:28.560> a<00:14:28.680> particular<00:14:28.980> domain<00:14:29.459> we're 00:14:29.629 --> 00:14:29.639 align:start position:0% call it with a particular domain we're 00:14:29.639 --> 00:14:30.829 align:start position:0% call it with a particular domain we're going<00:14:29.760> to<00:14:29.760> call<00:14:29.880> it<00:14:30.000> with<00:14:30.120> a<00:14:30.240> particular<00:14:30.480> new 00:14:30.829 --> 00:14:30.839 align:start position:0% going to call it with a particular new 00:14:30.839 --> 00:14:32.269 align:start position:0% going to call it with a particular new address<00:14:31.019> and<00:14:31.620> you're<00:14:31.740> going<00:14:31.860> to<00:14:31.920> make<00:14:32.100> a 00:14:32.269 --> 00:14:32.279 align:start position:0% address and you're going to make a 00:14:32.279 --> 00:14:34.610 align:start position:0% address and you're going to make a transaction<00:14:32.639> where<00:14:33.600> the<00:14:34.200> two<00:14:34.320> of<00:14:34.500> the 00:14:34.610 --> 00:14:34.620 align:start position:0% transaction where the two of the 00:14:34.620 --> 00:14:37.069 align:start position:0% transaction where the two of the transaction<00:14:34.980> right<00:14:35.279> the<00:14:35.459> two<00:14:35.579> address<00:14:35.839> is<00:14:36.839> the 00:14:37.069 --> 00:14:37.079 align:start position:0% transaction right the two address is the 00:14:37.079 --> 00:14:38.569 align:start position:0% transaction right the two address is the account<00:14:37.440> that<00:14:37.740> you're<00:14:37.920> calling<00:14:38.220> right<00:14:38.459> so 00:14:38.569 --> 00:14:38.579 align:start position:0% account that you're calling right so 00:14:38.579 --> 00:14:41.150 align:start position:0% account that you're calling right so it's<00:14:38.760> going<00:14:38.940> to<00:14:39.000> be<00:14:39.060> 0x<00:14:39.600> 849<00:14:40.199> c41<00:14:40.740> down<00:14:41.040> there 00:14:41.150 --> 00:14:41.160 align:start position:0% it's going to be 0x 849 c41 down there 00:14:41.160 --> 00:14:43.490 align:start position:0% it's going to be 0x 849 c41 down there the<00:14:41.760> data<00:14:42.120> is<00:14:42.240> going<00:14:42.420> to<00:14:42.540> be<00:14:42.600> the<00:14:42.839> stuff<00:14:43.320> that 00:14:43.490 --> 00:14:43.500 align:start position:0% the data is going to be the stuff that 00:14:43.500 --> 00:14:45.290 align:start position:0% the data is going to be the stuff that you<00:14:43.620> call<00:14:43.740> it<00:14:43.920> with<00:14:44.100> and<00:14:44.579> then<00:14:44.699> the<00:14:44.880> signature 00:14:45.290 --> 00:14:45.300 align:start position:0% you call it with and then the signature 00:14:45.300 --> 00:14:47.569 align:start position:0% you call it with and then the signature is<00:14:45.480> like<00:14:45.720> cryptographic<00:14:46.620> data<00:14:47.040> that<00:14:47.279> proves 00:14:47.569 --> 00:14:47.579 align:start position:0% is like cryptographic data that proves 00:14:47.579 --> 00:14:50.090 align:start position:0% is like cryptographic data that proves that<00:14:47.699> it<00:14:47.880> actually<00:14:48.060> is<00:14:48.480> you<00:14:48.839> the<00:14:49.500> owner<00:14:49.800> of<00:14:49.980> the 00:14:50.090 --> 00:14:50.100 align:start position:0% that it actually is you the owner of the 00:14:50.100 --> 00:14:52.069 align:start position:0% that it actually is you the owner of the sender<00:14:50.459> account<00:14:50.639> that<00:14:51.480> actually<00:14:51.660> yeah 00:14:52.069 --> 00:14:52.079 align:start position:0% sender account that actually yeah 00:14:52.079 --> 00:14:54.050 align:start position:0% sender account that actually yeah created<00:14:52.380> the<00:14:52.560> transaction<00:14:52.920> right<00:14:53.279> so<00:14:53.579> the 00:14:54.050 --> 00:14:54.060 align:start position:0% created the transaction right so the 00:14:54.060 --> 00:14:55.790 align:start position:0% created the transaction right so the signature<00:14:54.480> determines<00:14:54.959> who<00:14:55.139> the<00:14:55.260> sender<00:14:55.620> is 00:14:55.790 --> 00:14:55.800 align:start position:0% signature determines who the sender is 00:14:55.800 --> 00:14:58.430 align:start position:0% signature determines who the sender is only<00:14:56.339> the<00:14:56.639> sender<00:14:57.060> like<00:14:57.480> only<00:14:57.720> the<00:14:58.019> owner<00:14:58.320> of 00:14:58.430 --> 00:14:58.440 align:start position:0% only the sender like only the owner of 00:14:58.440 --> 00:15:00.110 align:start position:0% only the sender like only the owner of the<00:14:58.560> actual<00:14:58.800> private<00:14:59.160> key<00:14:59.339> corresponding<00:15:00.000> to 00:15:00.110 --> 00:15:00.120 align:start position:0% the actual private key corresponding to 00:15:00.120 --> 00:15:01.370 align:start position:0% the actual private key corresponding to the<00:15:00.240> sender<00:15:00.600> can<00:15:00.779> actually<00:15:00.959> create<00:15:01.199> a 00:15:01.370 --> 00:15:01.380 align:start position:0% the sender can actually create a 00:15:01.380 --> 00:15:03.650 align:start position:0% the sender can actually create a transaction<00:15:01.680> without<00:15:01.980> sender<00:15:02.519> so<00:15:03.120> that 00:15:03.650 --> 00:15:03.660 align:start position:0% transaction without sender so that 00:15:03.660 --> 00:15:05.750 align:start position:0% transaction without sender so that transaction<00:15:04.079> gets<00:15:04.860> included<00:15:05.339> in<00:15:05.459> a<00:15:05.639> block 00:15:05.750 --> 00:15:05.760 align:start position:0% transaction gets included in a block 00:15:05.760 --> 00:15:08.150 align:start position:0% transaction gets included in a block what<00:15:06.360> happens<00:15:06.540> in<00:15:06.839> the<00:15:06.959> evm<00:15:07.380> right<00:15:07.620> so<00:15:08.040> it 00:15:08.150 --> 00:15:08.160 align:start position:0% what happens in the evm right so it 00:15:08.160 --> 00:15:10.910 align:start position:0% what happens in the evm right so it starts<00:15:08.459> off<00:15:08.579> with<00:15:08.940> a<00:15:09.300> call<00:15:09.540> from<00:15:10.139> the<00:15:10.380> like<00:15:10.740> the 00:15:10.910 --> 00:15:10.920 align:start position:0% starts off with a call from the like the 00:15:10.920 --> 00:15:13.490 align:start position:0% starts off with a call from the like the accounts<00:15:11.339> at<00:15:11.459> the<00:15:11.579> top<00:15:11.639> the<00:15:12.139> ca291d<00:15:13.139> up<00:15:13.320> there 00:15:13.490 --> 00:15:13.500 align:start position:0% accounts at the top the ca291d up there 00:15:13.500 --> 00:15:15.350 align:start position:0% accounts at the top the ca291d up there right<00:15:13.620> the<00:15:13.800> accounts<00:15:14.160> at<00:15:14.279> the<00:15:14.399> top<00:15:14.519> which<00:15:15.180> is 00:15:15.350 --> 00:15:15.360 align:start position:0% right the accounts at the top which is 00:15:15.360 --> 00:15:17.569 align:start position:0% right the accounts at the top which is an<00:15:15.720> externally<00:15:16.139> owned<00:15:16.500> account<00:15:16.620> that<00:15:17.279> is<00:15:17.459> the 00:15:17.569 --> 00:15:17.579 align:start position:0% an externally owned account that is the 00:15:17.579 --> 00:15:20.090 align:start position:0% an externally owned account that is the account<00:15:17.699> owned<00:15:18.180> by<00:15:18.300> you<00:15:18.540> right<00:15:18.959> now<00:15:19.680> what<00:15:19.980> does 00:15:20.090 --> 00:15:20.100 align:start position:0% account owned by you right now what does 00:15:20.100 --> 00:15:21.949 align:start position:0% account owned by you right now what does that<00:15:20.279> accounts<00:15:20.699> do<00:15:20.820> so<00:15:21.300> what<00:15:21.600> are<00:15:21.720> the<00:15:21.839> state 00:15:21.949 --> 00:15:21.959 align:start position:0% that accounts do so what are the state 00:15:21.959 --> 00:15:23.990 align:start position:0% that accounts do so what are the state changes<00:15:22.440> that<00:15:22.560> happen<00:15:22.740> so<00:15:22.980> first<00:15:23.279> of<00:15:23.399> all<00:15:23.519> your 00:15:23.990 --> 00:15:24.000 align:start position:0% changes that happen so first of all your 00:15:24.000 --> 00:15:25.910 align:start position:0% changes that happen so first of all your balance<00:15:24.300> goes<00:15:24.660> down<00:15:24.720> a<00:15:24.899> bit<00:15:25.019> to<00:15:25.380> pay<00:15:25.560> for<00:15:25.740> the 00:15:25.910 --> 00:15:25.920 align:start position:0% balance goes down a bit to pay for the 00:15:25.920 --> 00:15:27.590 align:start position:0% balance goes down a bit to pay for the transaction<00:15:26.279> fee<00:15:26.820> and<00:15:27.120> then<00:15:27.240> a<00:15:27.360> bit<00:15:27.480> of 00:15:27.590 --> 00:15:27.600 align:start position:0% transaction fee and then a bit of 00:15:27.600 --> 00:15:29.689 align:start position:0% transaction fee and then a bit of balance<00:15:27.899> gets<00:15:28.199> transferred<00:15:28.560> to<00:15:28.620> the<00:15:28.800> miner 00:15:29.689 --> 00:15:29.699 align:start position:0% balance gets transferred to the miner 00:15:29.699 --> 00:15:32.090 align:start position:0% balance gets transferred to the miner um or<00:15:29.940> now<00:15:30.420> to<00:15:30.660> the<00:15:30.839> blog<00:15:30.959> proposer<00:15:31.500> and<00:15:31.920> then 00:15:32.090 --> 00:15:32.100 align:start position:0% um or now to the blog proposer and then 00:15:32.100 --> 00:15:33.710 align:start position:0% um or now to the blog proposer and then it<00:15:32.279> makes<00:15:32.399> another<00:15:32.519> call<00:15:32.940> and<00:15:33.360> that<00:15:33.540> call 00:15:33.710 --> 00:15:33.720 align:start position:0% it makes another call and that call 00:15:33.720 --> 00:15:35.930 align:start position:0% it makes another call and that call calls<00:15:34.199> down<00:15:34.320> to<00:15:34.500> the<00:15:34.680> contract<00:15:35.339> that<00:15:35.579> is<00:15:35.760> the 00:15:35.930 --> 00:15:35.940 align:start position:0% calls down to the contract that is the 00:15:35.940 --> 00:15:38.389 align:start position:0% calls down to the contract that is the application<00:15:36.420> and<00:15:37.199> the<00:15:37.500> data<00:15:37.860> of<00:15:37.980> the<00:15:38.160> call 00:15:38.389 --> 00:15:38.399 align:start position:0% application and the data of the call 00:15:38.399 --> 00:15:40.610 align:start position:0% application and the data of the call encodes<00:15:39.120> what<00:15:39.420> you<00:15:39.540> want<00:15:39.660> to<00:15:39.779> do<00:15:39.899> and<00:15:40.500> then 00:15:40.610 --> 00:15:40.620 align:start position:0% encodes what you want to do and then 00:15:40.620 --> 00:15:42.769 align:start position:0% encodes what you want to do and then basically<00:15:41.040> it<00:15:41.760> actually<00:15:41.880> does<00:15:42.240> like<00:15:42.420> a<00:15:42.660> series 00:15:42.769 --> 00:15:42.779 align:start position:0% basically it actually does like a series 00:15:42.779 --> 00:15:44.870 align:start position:0% basically it actually does like a series of<00:15:43.079> storage<00:15:43.260> operations<00:15:43.860> that<00:15:44.459> just<00:15:44.699> are 00:15:44.870 --> 00:15:44.880 align:start position:0% of storage operations that just are 00:15:44.880 --> 00:15:46.490 align:start position:0% of storage operations that just are what's<00:15:45.120> happening<00:15:45.480> here<00:15:45.720> right<00:15:45.899> so<00:15:46.139> first<00:15:46.320> you 00:15:46.490 --> 00:15:46.500 align:start position:0% what's happening here right so first you 00:15:46.500 --> 00:15:49.250 align:start position:0% what's happening here right so first you do<00:15:46.740> an<00:15:46.860> SLO<00:15:47.160> to<00:15:47.399> storage<00:15:47.639> load<00:15:48.060> it's<00:15:48.600> a<00:15:48.839> base<00:15:49.079> to 00:15:49.250 --> 00:15:49.260 align:start position:0% do an SLO to storage load it's a base to 00:15:49.260 --> 00:15:52.129 align:start position:0% do an SLO to storage load it's a base to figure<00:15:49.500> out<00:15:49.680> like<00:15:49.860> what<00:15:50.220> actually<00:15:50.399> is<00:15:50.760> a<00:15:51.480> in 00:15:52.129 --> 00:15:52.139 align:start position:0% figure out like what actually is a in 00:15:52.139 --> 00:15:54.710 align:start position:0% figure out like what actually is a in the<00:15:52.320> domain<00:15:53.040> or<00:15:53.579> in<00:15:53.760> the<00:15:54.000> storage<00:15:54.240> for<00:15:54.480> the 00:15:54.710 --> 00:15:54.720 align:start position:0% the domain or in the storage for the 00:15:54.720 --> 00:15:56.810 align:start position:0% the domain or in the storage for the particular<00:15:54.959> domain<00:15:55.500> it<00:15:55.920> returns<00:15:56.279> let's<00:15:56.519> say<00:15:56.699> a 00:15:56.810 --> 00:15:56.820 align:start position:0% particular domain it returns let's say a 00:15:56.820 --> 00:15:58.310 align:start position:0% particular domain it returns let's say a zero<00:15:57.120> because<00:15:57.300> nothing<00:15:57.660> has<00:15:57.899> happened<00:15:58.079> there 00:15:58.310 --> 00:15:58.320 align:start position:0% zero because nothing has happened there 00:15:58.320 --> 00:16:01.610 align:start position:0% zero because nothing has happened there yet<00:15:58.560> and<00:15:58.980> then<00:15:59.100> we<00:15:59.339> s<00:15:59.519> store<00:15:59.820> and<00:16:00.480> in<00:16:00.959> this<00:16:01.079> case 00:16:01.610 --> 00:16:01.620 align:start position:0% yet and then we s store and in this case 00:16:01.620 --> 00:16:03.230 align:start position:0% yet and then we s store and in this case um you<00:16:02.100> know<00:16:02.220> we're<00:16:02.519> changing<00:16:02.940> the<00:16:03.060> address 00:16:03.230 --> 00:16:03.240 align:start position:0% um you know we're changing the address 00:16:03.240 --> 00:16:05.449 align:start position:0% um you know we're changing the address and<00:16:03.600> it's<00:16:03.779> just<00:16:03.899> going<00:16:04.019> to<00:16:04.139> s<00:16:04.260> store<00:16:04.560> add<00:16:05.279> a 00:16:05.449 --> 00:16:05.459 align:start position:0% and it's just going to s store add a 00:16:05.459 --> 00:16:08.150 align:start position:0% and it's just going to s store add a particular<00:16:05.760> address<00:16:06.060> that<00:16:06.800> maps<00:16:07.800> to<00:16:07.920> where 00:16:08.150 --> 00:16:08.160 align:start position:0% particular address that maps to where 00:16:08.160 --> 00:16:10.189 align:start position:0% particular address that maps to where that<00:16:08.459> domain<00:16:08.820> is<00:16:09.000> stored<00:16:09.540> and<00:16:09.839> it's<00:16:10.019> going<00:16:10.139> to 00:16:10.189 --> 00:16:10.199 align:start position:0% that domain is stored and it's going to 00:16:10.199 --> 00:16:12.350 align:start position:0% that domain is stored and it's going to store<00:16:10.320> the<00:16:10.500> new<00:16:10.620> address<00:16:10.800> there<00:16:11.160> right<00:16:11.579> so 00:16:12.350 --> 00:16:12.360 align:start position:0% store the new address there right so 00:16:12.360 --> 00:16:15.050 align:start position:0% store the new address there right so this<00:16:12.899> is<00:16:13.079> like<00:16:13.620> a<00:16:13.800> very<00:16:13.980> simple<00:16:14.339> example<00:16:14.820> but 00:16:15.050 --> 00:16:15.060 align:start position:0% this is like a very simple example but 00:16:15.060 --> 00:16:16.730 align:start position:0% this is like a very simple example but look<00:16:15.240> this<00:16:15.420> is<00:16:15.540> a<00:16:15.660> bit<00:16:15.779> of<00:16:15.899> a<00:16:15.959> view<00:16:16.139> of<00:16:16.320> you<00:16:16.680> know 00:16:16.730 --> 00:16:16.740 align:start position:0% look this is a bit of a view of you know 00:16:16.740 --> 00:16:19.189 align:start position:0% look this is a bit of a view of you know what<00:16:17.040> happens<00:16:17.220> inside<00:16:17.639> of<00:16:18.000> the<00:16:18.120> evm<00:16:18.540> when<00:16:19.019> you 00:16:19.189 --> 00:16:19.199 align:start position:0% what happens inside of the evm when you 00:16:19.199 --> 00:16:21.470 align:start position:0% what happens inside of the evm when you send<00:16:19.440> a<00:16:19.740> transaction 00:16:21.470 --> 00:16:21.480 align:start position:0% send a transaction 00:16:21.480 --> 00:16:23.629 align:start position:0% send a transaction yes<00:16:22.139> this<00:16:22.560> is<00:16:22.680> something<00:16:22.860> in<00:16:22.980> ethereum<00:16:23.399> that 00:16:23.629 --> 00:16:23.639 align:start position:0% yes this is something in ethereum that 00:16:23.639 --> 00:16:26.569 align:start position:0% yes this is something in ethereum that has<00:16:23.820> not<00:16:23.940> changed<00:16:24.240> yet<00:16:24.360> right<00:16:24.660> so<00:16:24.899> gas<00:16:25.260> is<00:16:25.680> the 00:16:26.569 --> 00:16:26.579 align:start position:0% has not changed yet right so gas is the 00:16:26.579 --> 00:16:29.389 align:start position:0% has not changed yet right so gas is the unit<00:16:27.240> of<00:16:27.660> resource<00:16:28.260> consumption<00:16:28.800> within 00:16:29.389 --> 00:16:29.399 align:start position:0% unit of resource consumption within 00:16:29.399 --> 00:16:33.170 align:start position:0% unit of resource consumption within ethereum<00:16:29.880> right<00:16:30.180> so<00:16:30.720> examples<00:16:31.680> of<00:16:31.860> gas<00:16:32.100> so<00:16:32.760> a 00:16:33.170 --> 00:16:33.180 align:start position:0% ethereum right so examples of gas so a 00:16:33.180 --> 00:16:36.410 align:start position:0% ethereum right so examples of gas so a transaction<00:16:33.600> costs<00:16:34.199> a<00:16:34.440> base<00:16:34.560> 21<00:16:35.220> 000<00:16:35.339> gas<00:16:35.579> each 00:16:36.410 --> 00:16:36.420 align:start position:0% transaction costs a base 21 000 gas each 00:16:36.420 --> 00:16:39.530 align:start position:0% transaction costs a base 21 000 gas each computational<00:16:36.959> step<00:16:37.500> costs<00:16:38.399> usually<00:16:39.180> between 00:16:39.530 --> 00:16:39.540 align:start position:0% computational step costs usually between 00:16:39.540 --> 00:16:41.990 align:start position:0% computational step costs usually between 2<00:16:39.899> and<00:16:40.019> 10<00:16:40.199> guests<00:16:40.620> depending<00:16:40.980> on<00:16:41.100> how<00:16:41.399> how 00:16:41.990 --> 00:16:42.000 align:start position:0% 2 and 10 guests depending on how how 00:16:42.000 --> 00:16:44.990 align:start position:0% 2 and 10 guests depending on how how complicated<00:16:42.600> the<00:16:42.839> operation<00:16:43.560> is<00:16:43.820> editing<00:16:44.820> a 00:16:44.990 --> 00:16:45.000 align:start position:0% complicated the operation is editing a 00:16:45.000 --> 00:16:47.810 align:start position:0% complicated the operation is editing a storage<00:16:45.120> slot<00:16:45.600> costs<00:16:46.019> 5000<00:16:46.500> gas<00:16:46.740> or<00:16:47.339> it<00:16:47.519> costs 00:16:47.810 --> 00:16:47.820 align:start position:0% storage slot costs 5000 gas or it costs 00:16:47.820 --> 00:16:49.730 align:start position:0% storage slot costs 5000 gas or it costs 20<00:16:48.240> 000<00:16:48.300> gas<00:16:48.540> if<00:16:48.779> the<00:16:48.899> storage<00:16:49.079> slot<00:16:49.500> is<00:16:49.620> not 00:16:49.730 --> 00:16:49.740 align:start position:0% 20 000 gas if the storage slot is not 00:16:49.740 --> 00:16:50.930 align:start position:0% 20 000 gas if the storage slot is not filled<00:16:50.100> yet<00:16:50.220> and<00:16:50.399> so<00:16:50.519> you're<00:16:50.699> actually 00:16:50.930 --> 00:16:50.940 align:start position:0% filled yet and so you're actually 00:16:50.940 --> 00:16:53.569 align:start position:0% filled yet and so you're actually expanding<00:16:51.540> the<00:16:51.660> storage<00:16:51.899> and<00:16:52.860> every<00:16:53.100> byte<00:16:53.519> of 00:16:53.569 --> 00:16:53.579 align:start position:0% expanding the storage and every byte of 00:16:53.579 --> 00:16:56.569 align:start position:0% expanding the storage and every byte of data<00:16:53.880> in<00:16:54.000> a<00:16:54.180> transaction<00:16:54.540> costs<00:16:55.259> 16<00:16:55.440> gas<00:16:55.860> or<00:16:56.459> if 00:16:56.569 --> 00:16:56.579 align:start position:0% data in a transaction costs 16 gas or if 00:16:56.579 --> 00:16:58.189 align:start position:0% data in a transaction costs 16 gas or if it's<00:16:56.699> a<00:16:56.880> zero<00:16:57.120> byte<00:16:57.420> then<00:16:57.540> it<00:16:57.660> only<00:16:57.779> costs<00:16:58.079> for 00:16:58.189 --> 00:16:58.199 align:start position:0% it's a zero byte then it only costs for 00:16:58.199 --> 00:17:00.769 align:start position:0% it's a zero byte then it only costs for gas<00:16:58.440> right<00:16:58.740> so<00:16:58.980> gas<00:16:59.220> is<00:16:59.459> like<00:16:59.699> this<00:16:59.940> master 00:17:00.769 --> 00:17:00.779 align:start position:0% gas right so gas is like this master 00:17:00.779 --> 00:17:03.230 align:start position:0% gas right so gas is like this master unit<00:17:01.199> that<00:17:01.620> represents<00:17:02.279> all<00:17:02.820> of<00:17:02.940> the 00:17:03.230 --> 00:17:03.240 align:start position:0% unit that represents all of the 00:17:03.240 --> 00:17:05.990 align:start position:0% unit that represents all of the resources<00:17:04.079> that<00:17:04.319> are<00:17:04.439> being<00:17:04.620> consumed<00:17:05.160> during 00:17:05.990 --> 00:17:06.000 align:start position:0% resources that are being consumed during 00:17:06.000 --> 00:17:07.970 align:start position:0% resources that are being consumed during the<00:17:06.299> execution<00:17:06.720> of<00:17:06.900> a<00:17:07.079> transaction 00:17:07.970 --> 00:17:07.980 align:start position:0% the execution of a transaction 00:17:07.980 --> 00:17:09.890 align:start position:0% the execution of a transaction if<00:17:08.520> you<00:17:08.699> send<00:17:08.819> a<00:17:09.000> transaction<00:17:09.360> which<00:17:09.660> gets 00:17:09.890 --> 00:17:09.900 align:start position:0% if you send a transaction which gets 00:17:09.900 --> 00:17:12.230 align:start position:0% if you send a transaction which gets included<00:17:10.260> in<00:17:10.380> a<00:17:10.500> block<00:17:10.620> you<00:17:11.280> have<00:17:11.459> to<00:17:11.579> pay<00:17:11.880> a 00:17:12.230 --> 00:17:12.240 align:start position:0% included in a block you have to pay a 00:17:12.240 --> 00:17:14.090 align:start position:0% included in a block you have to pay a fee<00:17:12.540> that's<00:17:12.900> proportional<00:17:13.439> to<00:17:13.620> how<00:17:13.799> much<00:17:13.919> gas 00:17:14.090 --> 00:17:14.100 align:start position:0% fee that's proportional to how much gas 00:17:14.100 --> 00:17:15.949 align:start position:0% fee that's proportional to how much gas the<00:17:14.339> transaction<00:17:14.699> consumed<00:17:15.360> right<00:17:15.540> so 00:17:15.949 --> 00:17:15.959 align:start position:0% the transaction consumed right so 00:17:15.959 --> 00:17:18.169 align:start position:0% the transaction consumed right so whatever<00:17:16.260> amount<00:17:16.740> of<00:17:16.919> Reason<00:17:17.579> total 00:17:18.169 --> 00:17:18.179 align:start position:0% whatever amount of Reason total 00:17:18.179 --> 00:17:20.329 align:start position:0% whatever amount of Reason total resources<00:17:18.660> and<00:17:18.839> transactions<00:17:19.319> consumed<00:17:19.799> you 00:17:20.329 --> 00:17:20.339 align:start position:0% resources and transactions consumed you 00:17:20.339 --> 00:17:22.010 align:start position:0% resources and transactions consumed you have<00:17:20.459> to<00:17:20.640> pay<00:17:20.819> an<00:17:21.120> amount<00:17:21.360> proportional<00:17:21.900> to 00:17:22.010 --> 00:17:22.020 align:start position:0% have to pay an amount proportional to 00:17:22.020 --> 00:17:24.890 align:start position:0% have to pay an amount proportional to that<00:17:22.260> right<00:17:22.439> so<00:17:23.220> the<00:17:23.939> fee<00:17:24.179> is<00:17:24.299> basically<00:17:24.660> the 00:17:24.890 --> 00:17:24.900 align:start position:0% that right so the fee is basically the 00:17:24.900 --> 00:17:26.929 align:start position:0% that right so the fee is basically the What's<00:17:25.199> called<00:17:25.380> the<00:17:25.500> base<00:17:25.679> fee<00:17:26.040> plus<00:17:26.459> priority 00:17:26.929 --> 00:17:26.939 align:start position:0% What's called the base fee plus priority 00:17:26.939 --> 00:17:29.030 align:start position:0% What's called the base fee plus priority fee<00:17:27.299> multiplied<00:17:27.660> by<00:17:27.900> the<00:17:28.020> gas<00:17:28.140> you<00:17:28.380> use<00:17:28.559> so<00:17:28.799> the 00:17:29.030 --> 00:17:29.040 align:start position:0% fee multiplied by the gas you use so the 00:17:29.040 --> 00:17:32.030 align:start position:0% fee multiplied by the gas you use so the base<00:17:29.160> fee<00:17:29.580> is<00:17:30.059> like<00:17:30.240> a<00:17:30.480> fee<00:17:30.780> that's<00:17:31.040> adjusted 00:17:32.030 --> 00:17:32.040 align:start position:0% base fee is like a fee that's adjusted 00:17:32.040 --> 00:17:34.310 align:start position:0% base fee is like a fee that's adjusted by<00:17:32.280> the<00:17:32.400> protocol<00:17:32.760> it<00:17:33.179> adjusts<00:17:33.600> up<00:17:33.720> or<00:17:33.900> down<00:17:34.080> to 00:17:34.310 --> 00:17:34.320 align:start position:0% by the protocol it adjusts up or down to 00:17:34.320 --> 00:17:36.409 align:start position:0% by the protocol it adjusts up or down to try<00:17:34.500> to<00:17:34.620> keep<00:17:34.799> the<00:17:34.980> usage<00:17:35.280> at<00:17:35.520> about<00:17:36.059> the<00:17:36.299> same 00:17:36.409 --> 00:17:36.419 align:start position:0% try to keep the usage at about the same 00:17:36.419 --> 00:17:38.390 align:start position:0% try to keep the usage at about the same level<00:17:36.600> and<00:17:37.080> then<00:17:37.260> the<00:17:37.440> priority<00:17:37.740> fee<00:17:38.160> is<00:17:38.220> like 00:17:38.390 --> 00:17:38.400 align:start position:0% level and then the priority fee is like 00:17:38.400 --> 00:17:40.010 align:start position:0% level and then the priority fee is like an<00:17:38.640> extra<00:17:38.760> amount<00:17:39.179> that<00:17:39.360> you<00:17:39.480> pay<00:17:39.600> the<00:17:39.840> block 00:17:40.010 --> 00:17:40.020 align:start position:0% an extra amount that you pay the block 00:17:40.020 --> 00:17:42.230 align:start position:0% an extra amount that you pay the block proposer<00:17:40.620> to<00:17:41.039> sort<00:17:41.340> of<00:17:41.460> encourage<00:17:41.820> them<00:17:42.059> to 00:17:42.230 --> 00:17:42.240 align:start position:0% proposer to sort of encourage them to 00:17:42.240 --> 00:17:44.810 align:start position:0% proposer to sort of encourage them to add<00:17:42.360> your<00:17:42.539> transaction<00:17:43.080> and<00:17:44.039> in<00:17:44.340> this<00:17:44.520> partic 00:17:44.810 --> 00:17:44.820 align:start position:0% add your transaction and in this partic 00:17:44.820 --> 00:17:46.909 align:start position:0% add your transaction and in this partic generally<00:17:45.299> people<00:17:45.539> just<00:17:45.900> set<00:17:46.080> a<00:17:46.200> priority<00:17:46.559> of 00:17:46.909 --> 00:17:46.919 align:start position:0% generally people just set a priority of 00:17:46.919 --> 00:17:49.490 align:start position:0% generally people just set a priority of one<00:17:47.039> but<00:17:47.700> you<00:17:47.880> know<00:17:48.059> if<00:17:48.419> there's<00:17:48.900> a<00:17:49.200> particular 00:17:49.490 --> 00:17:49.500 align:start position:0% one but you know if there's a particular 00:17:49.500 --> 00:17:51.289 align:start position:0% one but you know if there's a particular time<00:17:49.860> where<00:17:50.160> lots<00:17:50.580> and<00:17:50.640> lots<00:17:50.880> of<00:17:50.940> people<00:17:51.059> are 00:17:51.289 --> 00:17:51.299 align:start position:0% time where lots and lots of people are 00:17:51.299 --> 00:17:52.970 align:start position:0% time where lots and lots of people are sending<00:17:51.660> huge<00:17:51.900> numbers<00:17:52.020> of<00:17:52.260> transactions<00:17:52.860> and 00:17:52.970 --> 00:17:52.980 align:start position:0% sending huge numbers of transactions and 00:17:52.980 --> 00:17:55.130 align:start position:0% sending huge numbers of transactions and the<00:17:53.160> blocks<00:17:53.400> are<00:17:53.520> congested<00:17:54.000> you<00:17:54.720> can<00:17:54.780> set<00:17:54.960> a 00:17:55.130 --> 00:17:55.140 align:start position:0% the blocks are congested you can set a 00:17:55.140 --> 00:17:56.450 align:start position:0% the blocks are congested you can set a higher<00:17:55.320> priority<00:17:55.620> for<00:17:55.860> you<00:17:55.980> to<00:17:56.039> get<00:17:56.160> in<00:17:56.280> first 00:17:56.450 --> 00:17:56.460 align:start position:0% higher priority for you to get in first 00:17:56.460 --> 00:17:59.930 align:start position:0% higher priority for you to get in first and<00:17:57.299> a<00:17:57.600> maximum<00:17:58.080> of<00:17:58.380> 30<00:17:58.919> 000<00:17:59.039> gas<00:17:59.280> can<00:17:59.580> be<00:17:59.760> spent 00:17:59.930 --> 00:17:59.940 align:start position:0% and a maximum of 30 000 gas can be spent 00:17:59.940 --> 00:18:02.570 align:start position:0% and a maximum of 30 000 gas can be spent inside<00:18:00.299> of<00:18:00.539> each<00:18:00.660> block<00:18:00.840> right<00:18:01.500> so<00:18:02.340> who 00:18:02.570 --> 00:18:02.580 align:start position:0% inside of each block right so who 00:18:02.580 --> 00:18:05.029 align:start position:0% inside of each block right so who remembers<00:18:03.059> how<00:18:03.299> much<00:18:03.480> gas<00:18:03.660> that<00:18:03.960> a<00:18:04.500> basic 00:18:05.029 --> 00:18:05.039 align:start position:0% remembers how much gas that a basic 00:18:05.039 --> 00:18:06.409 align:start position:0% remembers how much gas that a basic transaction<00:18:05.460> costs 00:18:06.409 --> 00:18:06.419 align:start position:0% transaction costs 00:18:06.419 --> 00:18:09.169 align:start position:0% transaction costs hint<00:18:06.900> it's<00:18:07.140> in<00:18:07.260> the<00:18:07.380> previous<00:18:07.500> slide 00:18:09.169 --> 00:18:09.179 align:start position:0% hint it's in the previous slide 00:18:09.179 --> 00:18:11.090 align:start position:0% hint it's in the previous slide twenty<00:18:09.780> one<00:18:09.840> thousand<00:18:10.200> okay 00:18:11.090 --> 00:18:11.100 align:start position:0% twenty one thousand okay 00:18:11.100 --> 00:18:13.250 align:start position:0% twenty one thousand okay um so<00:18:11.460> thirty<00:18:12.299> thousand<00:18:12.539> Thirty<00:18:13.020> million 00:18:13.250 --> 00:18:13.260 align:start position:0% um so thirty thousand Thirty million 00:18:13.260 --> 00:18:14.930 align:start position:0% um so thirty thousand Thirty million divided<00:18:13.679> by<00:18:13.860> Twenty<00:18:14.220> One<00:18:14.280> Thousand<00:18:14.580> anyone 00:18:14.930 --> 00:18:14.940 align:start position:0% divided by Twenty One Thousand anyone 00:18:14.940 --> 00:18:18.289 align:start position:0% divided by Twenty One Thousand anyone want<00:18:15.120> to<00:18:15.240> guess<00:18:15.360> about<00:18:15.539> how<00:18:15.780> much<00:18:15.900> that<00:18:16.080> is 00:18:18.289 --> 00:18:18.299 align:start position:0% 00:18:18.299 --> 00:18:20.210 align:start position:0% one<00:18:18.720> refrigerator<00:18:19.200> excellent<00:18:19.620> answer<00:18:19.919> yeah 00:18:20.210 --> 00:18:20.220 align:start position:0% one refrigerator excellent answer yeah 00:18:20.220 --> 00:18:21.590 align:start position:0% one refrigerator excellent answer yeah so<00:18:20.460> it's<00:18:20.760> uh 00:18:21.590 --> 00:18:21.600 align:start position:0% so it's uh 00:18:21.600 --> 00:18:24.289 align:start position:0% so it's uh okay<00:18:22.080> right<00:18:22.440> so<00:18:22.860> it<00:18:23.160> is<00:18:23.340> uh<00:18:23.700> you<00:18:23.880> know<00:18:24.059> going<00:18:24.179> to 00:18:24.289 --> 00:18:24.299 align:start position:0% okay right so it is uh you know going to 00:18:24.299 --> 00:18:27.169 align:start position:0% okay right so it is uh you know going to be<00:18:24.419> about<00:18:24.539> about<00:18:25.200> in<00:18:25.740> the<00:18:25.799> 1400<00:18:26.580> range<00:18:27.000> right 00:18:27.169 --> 00:18:27.179 align:start position:0% be about about in the 1400 range right 00:18:27.179 --> 00:18:29.870 align:start position:0% be about about in the 1400 range right so<00:18:27.539> a<00:18:28.020> maximum<00:18:28.440> of<00:18:28.559> fourteen<00:18:29.039> hundred<00:18:29.340> you 00:18:29.870 --> 00:18:29.880 align:start position:0% so a maximum of fourteen hundred you 00:18:29.880 --> 00:18:31.970 align:start position:0% so a maximum of fourteen hundred you know<00:18:30.000> roughly<00:18:30.480> simple<00:18:30.960> transactions<00:18:31.740> can 00:18:31.970 --> 00:18:31.980 align:start position:0% know roughly simple transactions can 00:18:31.980 --> 00:18:34.730 align:start position:0% know roughly simple transactions can make<00:18:32.100> it<00:18:32.220> into<00:18:32.340> each<00:18:32.640> block<00:18:33.020> and<00:18:34.020> uh<00:18:34.260> you<00:18:34.620> know 00:18:34.730 --> 00:18:34.740 align:start position:0% make it into each block and uh you know 00:18:34.740 --> 00:18:36.470 align:start position:0% make it into each block and uh you know if<00:18:34.980> they<00:18:35.100> Transit<00:18:35.520> but<00:18:35.820> on<00:18:36.000> average<00:18:36.179> it's 00:18:36.470 --> 00:18:36.480 align:start position:0% if they Transit but on average it's 00:18:36.480 --> 00:18:38.150 align:start position:0% if they Transit but on average it's going<00:18:36.660> to<00:18:36.780> be<00:18:36.840> 700<00:18:37.260> because<00:18:37.679> like<00:18:37.980> the 00:18:38.150 --> 00:18:38.160 align:start position:0% going to be 700 because like the 00:18:38.160 --> 00:18:39.650 align:start position:0% going to be 700 because like the priority<00:18:38.460> fee<00:18:38.820> adjusts<00:18:39.179> to<00:18:39.240> keep<00:18:39.360> the<00:18:39.539> average 00:18:39.650 --> 00:18:39.660 align:start position:0% priority fee adjusts to keep the average 00:18:39.660 --> 00:18:41.990 align:start position:0% priority fee adjusts to keep the average usage<00:18:40.080> around<00:18:40.260> 50<00:18:40.500> or<00:18:40.740> sorry<00:18:40.860> the<00:18:41.160> base<00:18:41.760> fee 00:18:41.990 --> 00:18:42.000 align:start position:0% usage around 50 or sorry the base fee 00:18:42.000 --> 00:18:43.370 align:start position:0% usage around 50 or sorry the base fee adjust<00:18:42.120> to<00:18:42.419> keep<00:18:42.480> their<00:18:42.660> usage<00:18:42.960> around<00:18:43.080> 15 00:18:43.370 --> 00:18:43.380 align:start position:0% adjust to keep their usage around 15 00:18:43.380 --> 00:18:46.370 align:start position:0% adjust to keep their usage around 15 million<00:18:43.919> but<00:18:44.940> um<00:18:45.000> you<00:18:45.120> know<00:18:45.240> if<00:18:45.960> the 00:18:46.370 --> 00:18:46.380 align:start position:0% million but um you know if the 00:18:46.380 --> 00:18:48.049 align:start position:0% million but um you know if the transactions<00:18:46.980> get<00:18:47.160> more<00:18:47.280> complicated<00:18:47.760> then 00:18:48.049 --> 00:18:48.059 align:start position:0% transactions get more complicated then 00:18:48.059 --> 00:18:50.029 align:start position:0% transactions get more complicated then they<00:18:48.240> start<00:18:48.360> consuming<00:18:48.840> more<00:18:49.020> gas<00:18:49.200> and<00:18:49.440> and<00:18:49.740> uh 00:18:50.029 --> 00:18:50.039 align:start position:0% they start consuming more gas and and uh 00:18:50.039 --> 00:18:52.130 align:start position:0% they start consuming more gas and and uh you<00:18:50.760> know<00:18:50.820> you<00:18:51.000> a<00:18:51.179> block<00:18:51.360> can<00:18:51.539> include<00:18:51.780> fewer 00:18:52.130 --> 00:18:52.140 align:start position:0% you know you a block can include fewer 00:18:52.140 --> 00:18:55.010 align:start position:0% you know you a block can include fewer of<00:18:52.260> them<00:18:52.380> so<00:18:52.919> that's<00:18:53.039> what<00:18:53.220> gas<00:18:53.400> is<00:18:53.700> so<00:18:54.419> this<00:18:54.960> is 00:18:55.010 --> 00:18:55.020 align:start position:0% of them so that's what gas is so this is 00:18:55.020 --> 00:18:56.570 align:start position:0% of them so that's what gas is so this is what<00:18:55.200> a<00:18:55.380> transaction<00:18:55.740> object<00:18:56.100> looks<00:18:56.520> like 00:18:56.570 --> 00:18:56.580 align:start position:0% what a transaction object looks like 00:18:56.580 --> 00:18:59.210 align:start position:0% what a transaction object looks like right<00:18:56.880> so<00:18:57.179> a<00:18:57.660> transaction<00:18:58.140> as<00:18:58.799> we<00:18:58.919> mentioned 00:18:59.210 --> 00:18:59.220 align:start position:0% right so a transaction as we mentioned 00:18:59.220 --> 00:19:00.890 align:start position:0% right so a transaction as we mentioned is<00:18:59.460> like<00:18:59.640> this<00:18:59.880> Big<00:19:00.059> Blob<00:19:00.360> of<00:19:00.480> data<00:19:00.780> that 00:19:00.890 --> 00:19:00.900 align:start position:0% is like this Big Blob of data that 00:19:00.900 --> 00:19:03.770 align:start position:0% is like this Big Blob of data that represents<00:19:01.500> uh<00:19:01.799> you<00:19:02.220> know<00:19:02.280> a<00:19:03.240> thing<00:19:03.360> that<00:19:03.600> a 00:19:03.770 --> 00:19:03.780 align:start position:0% represents uh you know a thing that a 00:19:03.780 --> 00:19:05.870 align:start position:0% represents uh you know a thing that a user<00:19:04.080> wants<00:19:04.380> to<00:19:04.380> do<00:19:04.559> that<00:19:05.039> gets<00:19:05.280> included<00:19:05.700> on 00:19:05.870 --> 00:19:05.880 align:start position:0% user wants to do that gets included on 00:19:05.880 --> 00:19:06.710 align:start position:0% user wants to do that gets included on chain 00:19:06.710 --> 00:19:06.720 align:start position:0% chain 00:19:06.720 --> 00:19:08.150 align:start position:0% chain um<00:19:06.780> and<00:19:06.900> you<00:19:07.320> know<00:19:07.440> you<00:19:07.559> can<00:19:07.679> see<00:19:07.740> it<00:19:07.919> kind<00:19:08.039> of 00:19:08.150 --> 00:19:08.160 align:start position:0% um and you know you can see it kind of 00:19:08.160 --> 00:19:09.650 align:start position:0% um and you know you can see it kind of some<00:19:08.280> of<00:19:08.400> the<00:19:08.520> parameters<00:19:09.000> of<00:19:09.179> what<00:19:09.360> they<00:19:09.480> are 00:19:09.650 --> 00:19:09.660 align:start position:0% some of the parameters of what they are 00:19:09.660 --> 00:19:12.470 align:start position:0% some of the parameters of what they are so<00:19:10.020> transaction<00:19:10.860> type<00:19:11.240> this<00:19:12.240> particular 00:19:12.470 --> 00:19:12.480 align:start position:0% so transaction type this particular 00:19:12.480 --> 00:19:14.870 align:start position:0% so transaction type this particular transaction<00:19:12.960> type<00:19:13.260> is<00:19:13.440> 0x02<00:19:14.220> there's<00:19:14.520> also 00:19:14.870 --> 00:19:14.880 align:start position:0% transaction type is 0x02 there's also 00:19:14.880 --> 00:19:17.270 align:start position:0% transaction type is 0x02 there's also zero<00:19:15.240> one<00:19:15.299> and<00:19:15.539> like<00:19:15.720> others<00:19:16.140> before<00:19:16.320> it 00:19:17.270 --> 00:19:17.280 align:start position:0% zero one and like others before it 00:19:17.280 --> 00:19:19.850 align:start position:0% zero one and like others before it um chain<00:19:17.520> ID<00:19:17.820> which<00:19:18.480> chain<00:19:18.720> is<00:19:19.020> this<00:19:19.140> for<00:19:19.320> are 00:19:19.850 --> 00:19:19.860 align:start position:0% um chain ID which chain is this for are 00:19:19.860 --> 00:19:21.230 align:start position:0% um chain ID which chain is this for are you<00:19:20.039> even<00:19:20.160> sending<00:19:20.580> a<00:19:20.700> transaction<00:19:21.000> for 00:19:21.230 --> 00:19:21.240 align:start position:0% you even sending a transaction for 00:19:21.240 --> 00:19:24.049 align:start position:0% you even sending a transaction for ethereum<00:19:21.539> M<00:19:22.020> or<00:19:22.440> four<00:19:22.559> ethereum<00:19:23.039> classic<00:19:23.400> or 00:19:24.049 --> 00:19:24.059 align:start position:0% ethereum M or four ethereum classic or 00:19:24.059 --> 00:19:26.150 align:start position:0% ethereum M or four ethereum classic or for<00:19:24.179> East<00:19:24.480> pal<00:19:24.780> who<00:19:25.559> here<00:19:25.740> has<00:19:25.919> sent<00:19:26.039> the 00:19:26.150 --> 00:19:26.160 align:start position:0% for East pal who here has sent the 00:19:26.160 --> 00:19:27.950 align:start position:0% for East pal who here has sent the transaction<00:19:26.400> on<00:19:26.580> each<00:19:26.880> power 00:19:27.950 --> 00:19:27.960 align:start position:0% transaction on each power 00:19:27.960 --> 00:19:31.190 align:start position:0% transaction on each power No<00:19:28.380> Hands<00:19:28.740> raised<00:19:28.980> almost<00:19:29.280> okay<00:19:29.940> I<00:19:30.600> got<00:19:30.900> a 00:19:31.190 --> 00:19:31.200 align:start position:0% No Hands raised almost okay I got a 00:19:31.200 --> 00:19:32.690 align:start position:0% No Hands raised almost okay I got a couple<00:19:31.260> of<00:19:31.440> hands<00:19:31.740> raised<00:19:31.980> okay<00:19:32.100> no<00:19:32.340> no<00:19:32.520> don't 00:19:32.690 --> 00:19:32.700 align:start position:0% couple of hands raised okay no no don't 00:19:32.700 --> 00:19:34.370 align:start position:0% couple of hands raised okay no no don't worry<00:19:32.880> you're<00:19:33.059> not<00:19:33.179> canceled 00:19:34.370 --> 00:19:34.380 align:start position:0% worry you're not canceled 00:19:34.380 --> 00:19:36.350 align:start position:0% worry you're not canceled um<00:19:34.520> so 00:19:36.350 --> 00:19:36.360 align:start position:0% um so 00:19:36.360 --> 00:19:38.230 align:start position:0% um so okay<00:19:36.840> these 00:19:38.230 --> 00:19:38.240 align:start position:0% okay these 00:19:38.240 --> 00:19:40.610 align:start position:0% okay these you<00:19:39.240> know<00:19:39.360> just<00:19:39.480> we<00:19:39.900> want<00:19:40.020> to<00:19:40.140> give<00:19:40.200> people<00:19:40.380> the 00:19:40.610 --> 00:19:40.620 align:start position:0% you know just we want to give people the 00:19:40.620 --> 00:19:42.110 align:start position:0% you know just we want to give people the ability<00:19:40.860> to<00:19:41.100> send<00:19:41.280> a<00:19:41.400> transaction<00:19:41.700> on<00:19:42.000> one 00:19:42.110 --> 00:19:42.120 align:start position:0% ability to send a transaction on one 00:19:42.120 --> 00:19:43.669 align:start position:0% ability to send a transaction on one chain<00:19:42.299> instead<00:19:42.660> of<00:19:42.780> sending<00:19:43.020> it<00:19:43.140> on<00:19:43.260> all<00:19:43.559> the 00:19:43.669 --> 00:19:43.679 align:start position:0% chain instead of sending it on all the 00:19:43.679 --> 00:19:44.930 align:start position:0% chain instead of sending it on all the other<00:19:43.799> chains<00:19:44.160> you<00:19:44.280> know<00:19:44.400> it's<00:19:44.460> not<00:19:44.640> that<00:19:44.820> hard 00:19:44.930 --> 00:19:44.940 align:start position:0% other chains you know it's not that hard 00:19:44.940 --> 00:19:45.950 align:start position:0% other chains you know it's not that hard right 00:19:45.950 --> 00:19:45.960 align:start position:0% right 00:19:45.960 --> 00:19:47.690 align:start position:0% right um nuts<00:19:46.440> this<00:19:46.620> is<00:19:46.740> like<00:19:46.919> an<00:19:47.100> anti-replay 00:19:47.690 --> 00:19:47.700 align:start position:0% um nuts this is like an anti-replay 00:19:47.700 --> 00:19:50.270 align:start position:0% um nuts this is like an anti-replay value<00:19:48.000> right<00:19:48.299> so<00:19:48.600> every<00:19:49.380> time<00:19:49.620> you<00:19:49.919> send<00:19:50.100> a 00:19:50.270 --> 00:19:50.280 align:start position:0% value right so every time you send a 00:19:50.280 --> 00:19:52.610 align:start position:0% value right so every time you send a transaction<00:19:50.700> that<00:19:51.059> gets<00:19:51.299> included<00:19:51.720> the<00:19:52.200> non's 00:19:52.610 --> 00:19:52.620 align:start position:0% transaction that gets included the non's 00:19:52.620 --> 00:19:54.470 align:start position:0% transaction that gets included the non's also<00:19:52.919> like<00:19:53.160> has<00:19:53.400> to<00:19:53.520> go<00:19:53.640> up<00:19:53.760> by<00:19:53.940> one<00:19:54.120> each<00:19:54.360> time 00:19:54.470 --> 00:19:54.480 align:start position:0% also like has to go up by one each time 00:19:54.480 --> 00:19:56.450 align:start position:0% also like has to go up by one each time right<00:19:54.720> so<00:19:54.960> this<00:19:55.140> prevents<00:19:55.620> a<00:19:55.980> transaction 00:19:56.450 --> 00:19:56.460 align:start position:0% right so this prevents a transaction 00:19:56.460 --> 00:19:58.070 align:start position:0% right so this prevents a transaction that<00:19:56.760> you<00:19:56.880> send<00:19:57.059> for<00:19:57.299> being<00:19:57.419> included<00:19:57.900> more 00:19:58.070 --> 00:19:58.080 align:start position:0% that you send for being included more 00:19:58.080 --> 00:20:00.650 align:start position:0% that you send for being included more than<00:19:58.140> once<00:19:58.380> pretty<00:19:58.740> simple<00:19:58.980> Max<00:19:59.820> priority<00:20:00.299> fee 00:20:00.650 --> 00:20:00.660 align:start position:0% than once pretty simple Max priority fee 00:20:00.660 --> 00:20:01.850 align:start position:0% than once pretty simple Max priority fee and<00:20:00.720> the<00:20:00.840> priority<00:20:01.020> fee<00:20:01.320> that<00:20:01.440> you're<00:20:01.559> paying 00:20:01.850 --> 00:20:01.860 align:start position:0% and the priority fee that you're paying 00:20:01.860 --> 00:20:04.070 align:start position:0% and the priority fee that you're paying Max<00:20:02.400> fee<00:20:02.820> which<00:20:03.000> is<00:20:03.120> like<00:20:03.299> the<00:20:03.480> maximum<00:20:03.840> base 00:20:04.070 --> 00:20:04.080 align:start position:0% Max fee which is like the maximum base 00:20:04.080 --> 00:20:06.289 align:start position:0% Max fee which is like the maximum base fee<00:20:04.320> that<00:20:04.500> you're<00:20:04.620> willing<00:20:04.919> to<00:20:05.039> pay<00:20:05.220> gas<00:20:06.059> limit 00:20:06.289 --> 00:20:06.299 align:start position:0% fee that you're willing to pay gas limit 00:20:06.299 --> 00:20:07.970 align:start position:0% fee that you're willing to pay gas limit the<00:20:06.660> maximum<00:20:06.960> gas<00:20:07.200> the<00:20:07.440> transaction<00:20:07.799> is 00:20:07.970 --> 00:20:07.980 align:start position:0% the maximum gas the transaction is 00:20:07.980 --> 00:20:09.710 align:start position:0% the maximum gas the transaction is allowed<00:20:08.280> to<00:20:08.340> consume 00:20:09.710 --> 00:20:09.720 align:start position:0% allowed to consume 00:20:09.720 --> 00:20:11.570 align:start position:0% allowed to consume um<00:20:09.840> destination<00:20:10.440> which<00:20:10.740> Azure<00:20:11.160> is<00:20:11.400> the 00:20:11.570 --> 00:20:11.580 align:start position:0% um destination which Azure is the 00:20:11.580 --> 00:20:14.210 align:start position:0% um destination which Azure is the transaction<00:20:11.880> goes<00:20:12.360> to<00:20:12.480> the<00:20:13.140> amount<00:20:13.440> how<00:20:14.039> much 00:20:14.210 --> 00:20:14.220 align:start position:0% transaction goes to the amount how much 00:20:14.220 --> 00:20:16.850 align:start position:0% transaction goes to the amount how much how<00:20:14.700> much<00:20:14.820> each<00:20:15.059> that<00:20:15.299> you're<00:20:15.419> sending<00:20:15.860> data 00:20:16.850 --> 00:20:16.860 align:start position:0% how much each that you're sending data 00:20:16.860 --> 00:20:19.130 align:start position:0% how much each that you're sending data is<00:20:17.220> uh<00:20:17.520> if<00:20:17.880> you're<00:20:17.940> calling<00:20:18.299> a<00:20:18.480> contracts<00:20:18.960> then 00:20:19.130 --> 00:20:19.140 align:start position:0% is uh if you're calling a contracts then 00:20:19.140 --> 00:20:20.930 align:start position:0% is uh if you're calling a contracts then the<00:20:19.320> then<00:20:19.679> what<00:20:20.039> is<00:20:20.160> the<00:20:20.280> data<00:20:20.520> that<00:20:20.640> gets 00:20:20.930 --> 00:20:20.940 align:start position:0% the then what is the data that gets 00:20:20.940 --> 00:20:23.150 align:start position:0% the then what is the data that gets passed<00:20:21.179> in<00:20:21.240> the<00:20:21.360> call<00:20:21.539> access<00:20:22.440> to<00:20:22.799> list<00:20:22.980> is 00:20:23.150 --> 00:20:23.160 align:start position:0% passed in the call access to list is 00:20:23.160 --> 00:20:25.549 align:start position:0% passed in the call access to list is like<00:20:23.400> this<00:20:23.640> fancy<00:20:24.419> way<00:20:24.600> to<00:20:24.840> access<00:20:25.080> some 00:20:25.549 --> 00:20:25.559 align:start position:0% like this fancy way to access some 00:20:25.559 --> 00:20:27.350 align:start position:0% like this fancy way to access some accounts<00:20:25.919> and<00:20:26.039> some<00:20:26.220> storage<00:20:26.460> slots<00:20:27.000> kind<00:20:27.299> of 00:20:27.350 --> 00:20:27.360 align:start position:0% accounts and some storage slots kind of 00:20:27.360 --> 00:20:28.669 align:start position:0% accounts and some storage slots kind of earlier<00:20:27.660> and<00:20:27.840> access<00:20:28.020> them<00:20:28.260> a<00:20:28.440> little<00:20:28.500> more 00:20:28.669 --> 00:20:28.679 align:start position:0% earlier and access them a little more 00:20:28.679 --> 00:20:31.250 align:start position:0% earlier and access them a little more cheaply<00:20:29.039> and<00:20:29.580> then<00:20:29.700> the<00:20:29.880> signature<00:20:30.360> is<00:20:30.720> like<00:20:31.140> a 00:20:31.250 --> 00:20:31.260 align:start position:0% cheaply and then the signature is like a 00:20:31.260 --> 00:20:33.049 align:start position:0% cheaply and then the signature is like a cryptographic<00:20:31.860> thing<00:20:31.980> that<00:20:32.280> verifies<00:20:32.700> you 00:20:33.049 --> 00:20:33.059 align:start position:0% cryptographic thing that verifies you 00:20:33.059 --> 00:20:36.350 align:start position:0% cryptographic thing that verifies you know<00:20:33.120> who<00:20:33.539> sent<00:20:33.840> the<00:20:34.020> transaction<00:20:34.860> okay<00:20:35.400> so 00:20:36.350 --> 00:20:36.360 align:start position:0% know who sent the transaction okay so 00:20:36.360 --> 00:20:38.390 align:start position:0% know who sent the transaction okay so high<00:20:36.660> level<00:20:36.840> languages<00:20:37.260> right<00:20:37.620> so<00:20:37.919> uh<00:20:38.160> you 00:20:38.390 --> 00:20:38.400 align:start position:0% high level languages right so uh you 00:20:38.400 --> 00:20:40.190 align:start position:0% high level languages right so uh you know<00:20:38.580> we<00:20:38.760> mentioned<00:20:39.000> that<00:20:39.179> there's<00:20:39.299> Viper<00:20:40.200> um 00:20:40.190 --> 00:20:40.200 align:start position:0% know we mentioned that there's Viper um 00:20:40.200 --> 00:20:42.529 align:start position:0% know we mentioned that there's Viper um there's<00:20:40.440> also<00:20:40.740> solidity<00:20:41.220> there's<00:20:41.580> also 00:20:42.529 --> 00:20:42.539 align:start position:0% there's also solidity there's also 00:20:42.539 --> 00:20:44.750 align:start position:0% there's also solidity there's also um<00:20:42.600> you<00:20:42.720> know<00:20:42.840> lll<00:20:43.200> there's<00:20:43.679> like<00:20:43.919> a<00:20:44.400> long<00:20:44.520> list 00:20:44.750 --> 00:20:44.760 align:start position:0% um you know lll there's like a long list 00:20:44.760 --> 00:20:46.549 align:start position:0% um you know lll there's like a long list of<00:20:45.000> kind<00:20:45.360> of<00:20:45.480> various<00:20:45.720> high-level<00:20:46.260> languages 00:20:46.549 --> 00:20:46.559 align:start position:0% of kind of various high-level languages 00:20:46.559 --> 00:20:48.710 align:start position:0% of kind of various high-level languages that<00:20:46.799> you<00:20:46.919> can<00:20:47.039> write<00:20:47.160> contracts<00:20:47.700> in<00:20:47.880> so<00:20:48.600> when 00:20:48.710 --> 00:20:48.720 align:start position:0% that you can write contracts in so when 00:20:48.720 --> 00:20:50.930 align:start position:0% that you can write contracts in so when you<00:20:48.900> write<00:20:49.080> a 00:20:50.930 --> 00:20:50.940 align:start position:0% you write a 00:20:50.940 --> 00:20:53.029 align:start position:0% you write a a<00:20:51.360> smart<00:20:51.780> contract<00:20:52.200> you're<00:20:52.740> generally 00:20:53.029 --> 00:20:53.039 align:start position:0% a smart contract you're generally 00:20:53.039 --> 00:20:54.830 align:start position:0% a smart contract you're generally writing<00:20:53.460> in<00:20:53.580> this<00:20:53.700> high<00:20:53.820> level<00:20:54.000> code<00:20:54.360> there's 00:20:54.830 --> 00:20:54.840 align:start position:0% writing in this high level code there's 00:20:54.840 --> 00:20:57.289 align:start position:0% writing in this high level code there's a<00:20:55.140> compiler<00:20:55.679> the<00:20:56.039> compiler<00:20:56.640> converts<00:20:57.120> the 00:20:57.289 --> 00:20:57.299 align:start position:0% a compiler the compiler converts the 00:20:57.299 --> 00:20:59.390 align:start position:0% a compiler the compiler converts the high<00:20:57.419> level<00:20:57.600> code<00:20:57.900> to<00:20:58.080> bytecode<00:20:58.559> and<00:20:58.980> it<00:20:59.160> also 00:20:59.390 --> 00:20:59.400 align:start position:0% high level code to bytecode and it also 00:20:59.400 --> 00:21:01.909 align:start position:0% high level code to bytecode and it also outputs<00:20:59.820> an<00:20:59.940> API<00:21:00.440> ABI<00:21:01.440> stands<00:21:01.860> for 00:21:01.909 --> 00:21:01.919 align:start position:0% outputs an API ABI stands for 00:21:01.919 --> 00:21:04.070 align:start position:0% outputs an API ABI stands for application<00:21:02.460> binary<00:21:02.940> interface<00:21:03.419> it's 00:21:04.070 --> 00:21:04.080 align:start position:0% application binary interface it's 00:21:04.080 --> 00:21:07.549 align:start position:0% application binary interface it's basically<00:21:04.559> the<00:21:05.520> way<00:21:05.700> to<00:21:06.059> encode<00:21:06.720> particular 00:21:07.549 --> 00:21:07.559 align:start position:0% basically the way to encode particular 00:21:07.559 --> 00:21:09.470 align:start position:0% basically the way to encode particular like<00:21:07.860> requests<00:21:08.520> like<00:21:08.700> things<00:21:09.000> that<00:21:09.179> users 00:21:09.470 --> 00:21:09.480 align:start position:0% like requests like things that users 00:21:09.480 --> 00:21:12.409 align:start position:0% like requests like things that users want<00:21:09.720> to<00:21:09.840> do<00:21:09.960> like<00:21:10.340> users<00:21:11.340> attempts<00:21:12.000> to<00:21:12.120> call 00:21:12.409 --> 00:21:12.419 align:start position:0% want to do like users attempts to call 00:21:12.419 --> 00:21:14.210 align:start position:0% want to do like users attempts to call particular<00:21:13.020> functions<00:21:13.559> in<00:21:13.740> the<00:21:13.860> contract 00:21:14.210 --> 00:21:14.220 align:start position:0% particular functions in the contract 00:21:14.220 --> 00:21:17.270 align:start position:0% particular functions in the contract into<00:21:14.940> a<00:21:15.299> set<00:21:15.419> of<00:21:15.539> bytes<00:21:15.840> right<00:21:16.080> so<00:21:16.440> in<00:21:17.160> this 00:21:17.270 --> 00:21:17.280 align:start position:0% into a set of bytes right so in this 00:21:17.280 --> 00:21:19.370 align:start position:0% into a set of bytes right so in this case<00:21:17.400> like<00:21:17.700> if<00:21:17.880> you<00:21:18.059> call<00:21:18.299> you<00:21:18.600> know<00:21:18.660> set<00:21:18.900> owner 00:21:19.370 --> 00:21:19.380 align:start position:0% case like if you call you know set owner 00:21:19.380 --> 00:21:20.990 align:start position:0% case like if you call you know set owner with<00:21:19.740> a<00:21:19.980> particular 00:21:20.990 --> 00:21:21.000 align:start position:0% with a particular 00:21:21.000 --> 00:21:22.669 align:start position:0% with a particular um<00:21:21.059> you<00:21:21.840> know<00:21:21.900> this<00:21:22.140> particular<00:21:22.380> address 00:21:22.669 --> 00:21:22.679 align:start position:0% um you know this particular address 00:21:22.679 --> 00:21:24.110 align:start position:0% um you know this particular address actually<00:21:23.039> this<00:21:23.280> should<00:21:23.460> be<00:21:23.580> this<00:21:23.820> should<00:21:24.059> be 00:21:24.110 --> 00:21:24.120 align:start position:0% actually this should be this should be 00:21:24.120 --> 00:21:25.850 align:start position:0% actually this should be this should be set<00:21:24.240> IPA<00:21:24.720> but<00:21:24.840> an<00:21:25.020> IPM<00:21:25.320> that's<00:21:25.440> a<00:21:25.620> bit<00:21:25.679> of<00:21:25.740> a 00:21:25.850 --> 00:21:25.860 align:start position:0% set IPA but an IPM that's a bit of a 00:21:25.860 --> 00:21:28.370 align:start position:0% set IPA but an IPM that's a bit of a mistake<00:21:26.100> right<00:21:26.340> then<00:21:27.120> you<00:21:27.600> could<00:21:27.660> use<00:21:27.900> the<00:21:28.080> API 00:21:28.370 --> 00:21:28.380 align:start position:0% mistake right then you could use the API 00:21:28.380 --> 00:21:29.990 align:start position:0% mistake right then you could use the API and<00:21:28.620> you<00:21:28.740> can<00:21:28.860> convert<00:21:29.280> that<00:21:29.400> into<00:21:29.580> some<00:21:29.820> call 00:21:29.990 --> 00:21:30.000 align:start position:0% and you can convert that into some call 00:21:30.000 --> 00:21:31.310 align:start position:0% and you can convert that into some call data<00:21:30.299> right<00:21:30.419> and<00:21:30.600> the<00:21:30.720> call<00:21:30.780> data<00:21:31.140> is<00:21:31.200> what 00:21:31.310 --> 00:21:31.320 align:start position:0% data right and the call data is what 00:21:31.320 --> 00:21:32.930 align:start position:0% data right and the call data is what actually<00:21:31.500> gets<00:21:31.860> into<00:21:31.919> the<00:21:32.220> transaction<00:21:32.580> right 00:21:32.930 --> 00:21:32.940 align:start position:0% actually gets into the transaction right 00:21:32.940 --> 00:21:35.090 align:start position:0% actually gets into the transaction right so<00:21:33.299> there's<00:21:34.020> this<00:21:34.260> kind<00:21:34.380> of<00:21:34.500> logic<00:21:34.860> that 00:21:35.090 --> 00:21:35.100 align:start position:0% so there's this kind of logic that 00:21:35.100 --> 00:21:37.310 align:start position:0% so there's this kind of logic that happens<00:21:35.280> that<00:21:35.700> basically<00:21:36.140> converts<00:21:37.140> this 00:21:37.310 --> 00:21:37.320 align:start position:0% happens that basically converts this 00:21:37.320 --> 00:21:39.230 align:start position:0% happens that basically converts this sort<00:21:37.500> of<00:21:37.620> high<00:21:37.799> level<00:21:38.039> human<00:21:38.460> readable<00:21:38.940> stuff 00:21:39.230 --> 00:21:39.240 align:start position:0% sort of high level human readable stuff 00:21:39.240 --> 00:21:40.970 align:start position:0% sort of high level human readable stuff that<00:21:39.419> people<00:21:39.600> want<00:21:39.780> to<00:21:39.900> do<00:21:40.020> you<00:21:40.500> know<00:21:40.559> both<00:21:40.799> the 00:21:40.970 --> 00:21:40.980 align:start position:0% that people want to do you know both the 00:21:40.980 --> 00:21:42.770 align:start position:0% that people want to do you know both the human<00:21:41.159> readable<00:21:41.520> code<00:21:41.700> of<00:21:41.880> the<00:21:42.059> contract<00:21:42.360> and 00:21:42.770 --> 00:21:42.780 align:start position:0% human readable code of the contract and 00:21:42.780 --> 00:21:44.630 align:start position:0% human readable code of the contract and kind<00:21:43.080> of<00:21:43.140> human<00:21:43.320> readable<00:21:43.740> instructions<00:21:44.280> like 00:21:44.630 --> 00:21:44.640 align:start position:0% kind of human readable instructions like 00:21:44.640 --> 00:21:47.149 align:start position:0% kind of human readable instructions like you<00:21:45.179> know<00:21:45.240> I<00:21:45.539> wants<00:21:45.900> to<00:21:45.960> send<00:21:46.140> Bob<00:21:46.380> 25<00:21:46.740> East 00:21:47.149 --> 00:21:47.159 align:start position:0% you know I wants to send Bob 25 East 00:21:47.159 --> 00:21:48.830 align:start position:0% you know I wants to send Bob 25 East because<00:21:47.400> I<00:21:47.580> really<00:21:47.760> like<00:21:48.000> him<00:21:48.179> you<00:21:48.720> wouldn't 00:21:48.830 --> 00:21:48.840 align:start position:0% because I really like him you wouldn't 00:21:48.840 --> 00:21:50.330 align:start position:0% because I really like him you wouldn't put<00:21:49.020> the<00:21:49.140> I<00:21:49.260> really<00:21:49.440> like<00:21:49.620> him<00:21:49.799> part<00:21:49.980> into<00:21:50.159> the 00:21:50.330 --> 00:21:50.340 align:start position:0% put the I really like him part into the 00:21:50.340 --> 00:21:51.950 align:start position:0% put the I really like him part into the contract<00:21:50.580> you<00:21:50.700> would<00:21:50.880> like<00:21:51.360> sensible<00:21:51.720> love 00:21:51.950 --> 00:21:51.960 align:start position:0% contract you would like sensible love 00:21:51.960 --> 00:21:54.470 align:start position:0% contract you would like sensible love mode<00:21:52.200> off<00:21:52.380> chain<00:21:52.559> or<00:21:52.799> something<00:21:52.940> but<00:21:53.940> you<00:21:54.360> know 00:21:54.470 --> 00:21:54.480 align:start position:0% mode off chain or something but you know 00:21:54.480 --> 00:21:57.590 align:start position:0% mode off chain or something but you know convert<00:21:54.960> that<00:21:55.140> into<00:21:55.559> a<00:21:56.460> kind<00:21:56.820> of<00:21:56.880> byte<00:21:57.299> request 00:21:57.590 --> 00:21:57.600 align:start position:0% convert that into a kind of byte request 00:21:57.600 --> 00:21:59.870 align:start position:0% convert that into a kind of byte request that<00:21:57.840> the<00:21:57.960> evm<00:21:58.320> understands 00:21:59.870 --> 00:21:59.880 align:start position:0% that the evm understands 00:21:59.880 --> 00:22:02.510 align:start position:0% that the evm understands um<00:21:59.940> so<00:22:00.720> proof<00:22:01.140> of<00:22:01.200> State<00:22:01.380> consensus<00:22:01.980> right<00:22:02.159> so 00:22:02.510 --> 00:22:02.520 align:start position:0% um so proof of State consensus right so 00:22:02.520 --> 00:22:04.549 align:start position:0% um so proof of State consensus right so the<00:22:03.120> thing<00:22:03.240> that<00:22:03.539> actually<00:22:03.780> kind<00:22:04.140> of<00:22:04.260> keeps 00:22:04.549 --> 00:22:04.559 align:start position:0% the thing that actually kind of keeps 00:22:04.559 --> 00:22:05.870 align:start position:0% the thing that actually kind of keeps the<00:22:04.679> whole<00:22:04.799> thing<00:22:04.919> safe<00:22:05.159> so<00:22:05.400> we<00:22:05.520> talked<00:22:05.820> about 00:22:05.870 --> 00:22:05.880 align:start position:0% the whole thing safe so we talked about 00:22:05.880 --> 00:22:08.149 align:start position:0% the whole thing safe so we talked about blocks<00:22:06.480> we<00:22:06.960> talked<00:22:07.200> about<00:22:07.260> other<00:22:07.620> stations 00:22:08.149 --> 00:22:08.159 align:start position:0% blocks we talked about other stations 00:22:08.159 --> 00:22:10.669 align:start position:0% blocks we talked about other stations who<00:22:08.940> gets<00:22:09.299> to<00:22:09.360> produce<00:22:09.720> these<00:22:10.020> blocks<00:22:10.200> to<00:22:10.320> data 00:22:10.669 --> 00:22:10.679 align:start position:0% who gets to produce these blocks to data 00:22:10.679 --> 00:22:12.289 align:start position:0% who gets to produce these blocks to data stations 00:22:12.289 --> 00:22:12.299 align:start position:0% stations 00:22:12.299 --> 00:22:14.510 align:start position:0% stations anyone<00:22:12.840> can<00:22:13.020> if<00:22:13.320> they<00:22:13.440> deposit<00:22:13.860> 32<00:22:14.159> East<00:22:14.340> and 00:22:14.510 --> 00:22:14.520 align:start position:0% anyone can if they deposit 32 East and 00:22:14.520 --> 00:22:16.549 align:start position:0% anyone can if they deposit 32 East and become<00:22:14.760> a<00:22:14.820> validator<00:22:15.240> right<00:22:15.720> and<00:22:16.140> if<00:22:16.260> you<00:22:16.440> have 00:22:16.549 --> 00:22:16.559 align:start position:0% become a validator right and if you have 00:22:16.559 --> 00:22:18.950 align:start position:0% become a validator right and if you have less<00:22:16.860> than<00:22:16.980> 32<00:22:17.340> East<00:22:17.580> then<00:22:18.179> you<00:22:18.360> can<00:22:18.480> join<00:22:18.840> the 00:22:18.950 --> 00:22:18.960 align:start position:0% less than 32 East then you can join the 00:22:18.960 --> 00:22:20.510 align:start position:0% less than 32 East then you can join the system<00:22:19.140> through<00:22:19.559> stake<00:22:19.799> pools<00:22:20.159> right<00:22:20.280> so 00:22:20.510 --> 00:22:20.520 align:start position:0% system through stake pools right so 00:22:20.520 --> 00:22:21.590 align:start position:0% system through stake pools right so there<00:22:20.640> are<00:22:20.820> stake<00:22:21.000> pools<00:22:21.240> you<00:22:21.360> know<00:22:21.480> there's 00:22:21.590 --> 00:22:21.600 align:start position:0% there are stake pools you know there's 00:22:21.600 --> 00:22:23.870 align:start position:0% there are stake pools you know there's rocket<00:22:22.020> pool<00:22:22.140> there's<00:22:22.380> Lido<00:22:22.860> there's<00:22:23.159> a<00:22:23.460> bunch 00:22:23.870 --> 00:22:23.880 align:start position:0% rocket pool there's Lido there's a bunch 00:22:23.880 --> 00:22:25.669 align:start position:0% rocket pool there's Lido there's a bunch of<00:22:24.000> other<00:22:24.120> pools<00:22:24.539> and<00:22:24.900> you<00:22:25.020> and<00:22:25.200> if<00:22:25.440> you<00:22:25.559> have 00:22:25.669 --> 00:22:25.679 align:start position:0% of other pools and you and if you have 00:22:25.679 --> 00:22:27.350 align:start position:0% of other pools and you and if you have less<00:22:25.860> than<00:22:25.980> 32<00:22:26.340> East<00:22:26.580> you<00:22:26.820> could<00:22:27.000> kind<00:22:27.240> of 00:22:27.350 --> 00:22:27.360 align:start position:0% less than 32 East you could kind of 00:22:27.360 --> 00:22:29.810 align:start position:0% less than 32 East you could kind of become<00:22:28.080> part<00:22:28.320> of<00:22:28.500> a<00:22:28.620> validator<00:22:29.039> using<00:22:29.460> a<00:22:29.640> stake 00:22:29.810 --> 00:22:29.820 align:start position:0% become part of a validator using a stake 00:22:29.820 --> 00:22:31.970 align:start position:0% become part of a validator using a stake pool<00:22:29.940> as<00:22:30.179> well<00:22:30.299> so 00:22:31.970 --> 00:22:31.980 align:start position:0% pool as well so 00:22:31.980 --> 00:22:35.270 align:start position:0% pool as well so deposit<00:22:32.760> 32<00:22:33.059> East<00:22:33.240> becomes<00:22:33.720> a<00:22:33.900> validator<00:22:34.500> and 00:22:35.270 --> 00:22:35.280 align:start position:0% deposit 32 East becomes a validator and 00:22:35.280 --> 00:22:38.810 align:start position:0% deposit 32 East becomes a validator and in<00:22:35.580> each<00:22:35.760> slot<00:22:36.240> 12<00:22:36.720> seconds<00:22:36.960> 1<00:22:37.799> over<00:22:37.980> 32<00:22:38.460> of<00:22:38.640> all 00:22:38.810 --> 00:22:38.820 align:start position:0% in each slot 12 seconds 1 over 32 of all 00:22:38.820 --> 00:22:40.970 align:start position:0% in each slot 12 seconds 1 over 32 of all validators<00:22:39.419> attest<00:22:40.080> to<00:22:40.200> the<00:22:40.380> block<00:22:40.500> that<00:22:40.799> was 00:22:40.970 --> 00:22:40.980 align:start position:0% validators attest to the block that was 00:22:40.980 --> 00:22:43.909 align:start position:0% validators attest to the block that was created<00:22:41.220> during<00:22:41.400> that<00:22:41.700> slot<00:22:42.480> the<00:22:43.260> validators 00:22:43.909 --> 00:22:43.919 align:start position:0% created during that slot the validators 00:22:43.919 --> 00:22:46.190 align:start position:0% created during that slot the validators get<00:22:44.159> Revenue<00:22:44.460> right<00:22:44.820> so<00:22:45.059> why<00:22:45.659> would<00:22:45.840> you<00:22:45.960> stake 00:22:46.190 --> 00:22:46.200 align:start position:0% get Revenue right so why would you stake 00:22:46.200 --> 00:22:48.409 align:start position:0% get Revenue right so why would you stake well<00:22:46.440> you<00:22:46.620> get<00:22:46.740> rewards<00:22:47.220> you<00:22:47.700> get<00:22:47.940> two<00:22:48.120> kinds 00:22:48.409 --> 00:22:48.419 align:start position:0% well you get rewards you get two kinds 00:22:48.419 --> 00:22:50.210 align:start position:0% well you get rewards you get two kinds of<00:22:48.480> rewards<00:22:48.840> you<00:22:48.960> get<00:22:49.140> in<00:22:49.320> protocol<00:22:49.679> rewards 00:22:50.210 --> 00:22:50.220 align:start position:0% of rewards you get in protocol rewards 00:22:50.220 --> 00:22:52.130 align:start position:0% of rewards you get in protocol rewards so<00:22:50.640> you<00:22:50.820> get<00:22:51.000> automatic<00:22:51.539> rewards<00:22:51.960> for 00:22:52.130 --> 00:22:52.140 align:start position:0% so you get automatic rewards for 00:22:52.140 --> 00:22:53.810 align:start position:0% so you get automatic rewards for creating<00:22:52.440> blocks<00:22:52.860> creating<00:22:53.159> attestations 00:22:53.810 --> 00:22:53.820 align:start position:0% creating blocks creating attestations 00:22:53.820 --> 00:22:56.230 align:start position:0% creating blocks creating attestations you<00:22:54.360> know<00:22:54.539> doing<00:22:54.780> all<00:22:55.080> of<00:22:55.440> the<00:22:55.559> good<00:22:55.740> things 00:22:56.230 --> 00:22:56.240 align:start position:0% you know doing all of the good things 00:22:56.240 --> 00:23:00.110 align:start position:0% you know doing all of the good things and<00:22:57.240> you<00:22:58.020> also<00:22:58.260> get<00:22:58.440> priority<00:22:59.039> fees<00:22:59.400> and<00:22:59.640> Mev 00:23:00.110 --> 00:23:00.120 align:start position:0% and you also get priority fees and Mev 00:23:00.120 --> 00:23:02.510 align:start position:0% and you also get priority fees and Mev from<00:23:00.480> transactions<00:23:01.380> right<00:23:01.620> so<00:23:01.980> you<00:23:02.340> know<00:23:02.400> you 00:23:02.510 --> 00:23:02.520 align:start position:0% from transactions right so you know you 00:23:02.520 --> 00:23:05.210 align:start position:0% from transactions right so you know you get<00:23:02.700> Revenue<00:23:02.940> in<00:23:03.179> two<00:23:03.360> ways<00:23:03.659> and<00:23:04.440> validators 00:23:05.210 --> 00:23:05.220 align:start position:0% get Revenue in two ways and validators 00:23:05.220 --> 00:23:08.570 align:start position:0% get Revenue in two ways and validators can<00:23:06.059> you<00:23:06.539> know<00:23:06.659> withdraw<00:23:07.320> at<00:23:08.100> any<00:23:08.159> time<00:23:08.400> well 00:23:08.570 --> 00:23:08.580 align:start position:0% can you know withdraw at any time well 00:23:08.580 --> 00:23:09.830 align:start position:0% can you know withdraw at any time well this<00:23:08.760> will<00:23:08.880> be<00:23:09.000> enabled<00:23:09.299> in<00:23:09.360> the<00:23:09.539> next<00:23:09.659> hard 00:23:09.830 --> 00:23:09.840 align:start position:0% this will be enabled in the next hard 00:23:09.840 --> 00:23:11.570 align:start position:0% this will be enabled in the next hard Fork<00:23:10.140> right<00:23:10.260> but<00:23:10.440> validators<00:23:10.919> will<00:23:11.220> be<00:23:11.400> able 00:23:11.570 --> 00:23:11.580 align:start position:0% Fork right but validators will be able 00:23:11.580 --> 00:23:14.630 align:start position:0% Fork right but validators will be able to<00:23:11.700> withdraw<00:23:12.659> at<00:23:13.020> any<00:23:13.140> time<00:23:13.320> with<00:23:13.679> a<00:23:13.799> delay 00:23:14.630 --> 00:23:14.640 align:start position:0% to withdraw at any time with a delay 00:23:14.640 --> 00:23:16.789 align:start position:0% to withdraw at any time with a delay um<00:23:14.700> and<00:23:15.000> usually<00:23:15.840> that<00:23:16.140> delay<00:23:16.380> will<00:23:16.559> be<00:23:16.679> pretty 00:23:16.789 --> 00:23:16.799 align:start position:0% um and usually that delay will be pretty 00:23:16.799 --> 00:23:19.190 align:start position:0% um and usually that delay will be pretty short<00:23:16.980> but<00:23:17.700> in<00:23:18.000> extreme<00:23:18.299> cases<00:23:18.720> like<00:23:19.020> if 00:23:19.190 --> 00:23:19.200 align:start position:0% short but in extreme cases like if 00:23:19.200 --> 00:23:20.450 align:start position:0% short but in extreme cases like if everyone's<00:23:19.559> trying<00:23:19.679> not<00:23:19.919> throughout<00:23:20.280> the 00:23:20.450 --> 00:23:20.460 align:start position:0% everyone's trying not throughout the 00:23:20.460 --> 00:23:22.190 align:start position:0% everyone's trying not throughout the same<00:23:20.580> time<00:23:20.820> then<00:23:21.299> there<00:23:21.539> is<00:23:21.720> going<00:23:21.840> to<00:23:21.960> be<00:23:22.080> a 00:23:22.190 --> 00:23:22.200 align:start position:0% same time then there is going to be a 00:23:22.200 --> 00:23:23.270 align:start position:0% same time then there is going to be a queue<00:23:22.440> and<00:23:22.559> you<00:23:22.679> might<00:23:22.799> have<00:23:22.919> to<00:23:23.039> wait<00:23:23.159> for 00:23:23.270 --> 00:23:23.280 align:start position:0% queue and you might have to wait for 00:23:23.280 --> 00:23:26.390 align:start position:0% queue and you might have to wait for some<00:23:23.460> amount<00:23:23.700> of<00:23:23.880> time<00:23:24.480> so<00:23:25.380> that's<00:23:26.039> proof<00:23:26.400> of 00:23:26.390 --> 00:23:26.400 align:start position:0% some amount of time so that's proof of 00:23:26.400 --> 00:23:28.430 align:start position:0% some amount of time so that's proof of State<00:23:26.580> consensus<00:23:27.120> right<00:23:27.299> basically<00:23:27.720> yeah<00:23:28.020> you 00:23:28.430 --> 00:23:28.440 align:start position:0% State consensus right basically yeah you 00:23:28.440 --> 00:23:30.590 align:start position:0% State consensus right basically yeah you know<00:23:28.500> if<00:23:28.860> you<00:23:29.039> have<00:23:29.159> 32<00:23:29.580> East<00:23:29.820> you<00:23:30.120> can<00:23:30.240> deposit 00:23:30.590 --> 00:23:30.600 align:start position:0% know if you have 32 East you can deposit 00:23:30.600 --> 00:23:32.750 align:start position:0% know if you have 32 East you can deposit become<00:23:30.900> a<00:23:30.960> validator<00:23:31.380> and<00:23:32.159> all<00:23:32.400> of<00:23:32.520> these 00:23:32.750 --> 00:23:32.760 align:start position:0% become a validator and all of these 00:23:32.760 --> 00:23:35.149 align:start position:0% become a validator and all of these validators<00:23:33.480> are<00:23:34.020> the<00:23:34.260> ones<00:23:34.500> that<00:23:34.679> participate 00:23:35.149 --> 00:23:35.159 align:start position:0% validators are the ones that participate 00:23:35.159 --> 00:23:36.830 align:start position:0% validators are the ones that participate in<00:23:35.340> this<00:23:35.520> big<00:23:35.700> system<00:23:36.000> of<00:23:36.299> blocks<00:23:36.720> and 00:23:36.830 --> 00:23:36.840 align:start position:0% in this big system of blocks and 00:23:36.840 --> 00:23:38.630 align:start position:0% in this big system of blocks and attestations<00:23:37.380> that<00:23:38.100> keeps<00:23:38.400> the<00:23:38.520> chain 00:23:38.630 --> 00:23:38.640 align:start position:0% attestations that keeps the chain 00:23:38.640 --> 00:23:40.909 align:start position:0% attestations that keeps the chain progressing<00:23:39.179> and<00:23:39.360> keeps<00:23:39.720> the<00:23:39.900> blocks<00:23:40.860> that 00:23:40.909 --> 00:23:40.919 align:start position:0% progressing and keeps the blocks that 00:23:40.919 --> 00:23:43.130 align:start position:0% progressing and keeps the blocks that are<00:23:41.039> being<00:23:41.159> added<00:23:41.520> safe 00:23:43.130 --> 00:23:43.140 align:start position:0% are being added safe 00:23:43.140 --> 00:23:45.950 align:start position:0% are being added safe um<00:23:43.260> Fox<00:23:43.559> choice<00:23:43.860> right<00:23:44.100> so<00:23:44.460> the<00:23:45.179> reason<00:23:45.360> why<00:23:45.780> we 00:23:45.950 --> 00:23:45.960 align:start position:0% um Fox choice right so the reason why we 00:23:45.960 --> 00:23:47.930 align:start position:0% um Fox choice right so the reason why we need<00:23:46.080> to<00:23:46.260> have<00:23:46.440> like<00:23:46.679> weird<00:23:46.980> fancy<00:23:47.460> stuff<00:23:47.700> to 00:23:47.930 --> 00:23:47.940 align:start position:0% need to have like weird fancy stuff to 00:23:47.940 --> 00:23:49.610 align:start position:0% need to have like weird fancy stuff to inconsensus<00:23:48.659> is<00:23:48.840> because 00:23:49.610 --> 00:23:49.620 align:start position:0% inconsensus is because 00:23:49.620 --> 00:23:52.310 align:start position:0% inconsensus is because what<00:23:50.340> if<00:23:50.580> you<00:23:50.940> have<00:23:51.059> this<00:23:51.240> situation<00:23:51.720> where 00:23:52.310 --> 00:23:52.320 align:start position:0% what if you have this situation where 00:23:52.320 --> 00:23:54.289 align:start position:0% what if you have this situation where people<00:23:52.620> publish<00:23:53.039> two<00:23:53.280> blocks<00:23:53.700> and<00:23:54.120> those 00:23:54.289 --> 00:23:54.299 align:start position:0% people publish two blocks and those 00:23:54.299 --> 00:23:55.909 align:start position:0% people publish two blocks and those blocks<00:23:54.659> disagree<00:23:55.020> with<00:23:55.200> each<00:23:55.380> other<00:23:55.440> right<00:23:55.679> so 00:23:55.909 --> 00:23:55.919 align:start position:0% blocks disagree with each other right so 00:23:55.919 --> 00:23:57.649 align:start position:0% blocks disagree with each other right so in<00:23:56.100> this<00:23:56.220> case<00:23:56.340> you<00:23:56.820> have<00:23:56.940> two<00:23:57.179> blocks<00:23:57.539> and 00:23:57.649 --> 00:23:57.659 align:start position:0% in this case you have two blocks and 00:23:57.659 --> 00:23:59.690 align:start position:0% in this case you have two blocks and these<00:23:57.900> blocks<00:23:58.320> are<00:23:59.100> um<00:23:59.100> you<00:23:59.280> know<00:23:59.400> they're 00:23:59.690 --> 00:23:59.700 align:start position:0% these blocks are um you know they're 00:23:59.700 --> 00:24:01.130 align:start position:0% these blocks are um you know they're sister<00:23:59.940> blocks<00:24:00.419> right<00:24:00.539> they<00:24:00.720> have<00:24:00.840> the<00:24:00.960> same 00:24:01.130 --> 00:24:01.140 align:start position:0% sister blocks right they have the same 00:24:01.140 --> 00:24:02.870 align:start position:0% sister blocks right they have the same parent<00:24:01.320> and<00:24:01.919> so 00:24:02.870 --> 00:24:02.880 align:start position:0% parent and so 00:24:02.880 --> 00:24:05.450 align:start position:0% parent and so clearly<00:24:03.659> you<00:24:04.080> can't<00:24:04.200> get<00:24:04.500> like<00:24:04.799> put<00:24:05.100> both<00:24:05.280> of 00:24:05.450 --> 00:24:05.460 align:start position:0% clearly you can't get like put both of 00:24:05.460 --> 00:24:07.310 align:start position:0% clearly you can't get like put both of these<00:24:05.580> blocks<00:24:05.940> in<00:24:06.059> at<00:24:06.240> the<00:24:06.419> same<00:24:06.539> time<00:24:06.720> they 00:24:07.310 --> 00:24:07.320 align:start position:0% these blocks in at the same time they 00:24:07.320 --> 00:24:08.990 align:start position:0% these blocks in at the same time they might<00:24:07.500> have<00:24:07.620> conflicting<00:24:08.220> transactions<00:24:08.820> they 00:24:08.990 --> 00:24:09.000 align:start position:0% might have conflicting transactions they 00:24:09.000 --> 00:24:10.850 align:start position:0% might have conflicting transactions they have<00:24:09.179> some<00:24:09.360> of<00:24:09.480> the<00:24:09.600> same<00:24:09.720> transactions<00:24:10.380> they 00:24:10.850 --> 00:24:10.860 align:start position:0% have some of the same transactions they 00:24:10.860 --> 00:24:11.990 align:start position:0% have some of the same transactions they even<00:24:11.039> might<00:24:11.400> have<00:24:11.520> some<00:24:11.640> of<00:24:11.760> the<00:24:11.880> same 00:24:11.990 --> 00:24:12.000 align:start position:0% even might have some of the same 00:24:12.000 --> 00:24:13.970 align:start position:0% even might have some of the same transactions<00:24:12.539> in<00:24:12.720> different<00:24:12.900> order<00:24:13.200> right 00:24:13.970 --> 00:24:13.980 align:start position:0% transactions in different order right 00:24:13.980 --> 00:24:17.630 align:start position:0% transactions in different order right but<00:24:14.600> blocks<00:24:15.600> or<00:24:15.960> you<00:24:16.860> know<00:24:16.980> what<00:24:17.159> happens<00:24:17.340> if 00:24:17.630 --> 00:24:17.640 align:start position:0% but blocks or you know what happens if 00:24:17.640 --> 00:24:19.310 align:start position:0% but blocks or you know what happens if you<00:24:17.760> have<00:24:17.940> like<00:24:18.179> two<00:24:18.360> blocks<00:24:18.780> that<00:24:18.900> create<00:24:19.080> two 00:24:19.310 --> 00:24:19.320 align:start position:0% you have like two blocks that create two 00:24:19.320 --> 00:24:21.409 align:start position:0% you have like two blocks that create two conflicting<00:24:19.919> histories<00:24:20.340> you<00:24:20.820> have<00:24:20.940> to<00:24:21.059> choose 00:24:21.409 --> 00:24:21.419 align:start position:0% conflicting histories you have to choose 00:24:21.419 --> 00:24:23.690 align:start position:0% conflicting histories you have to choose one<00:24:21.720> of<00:24:21.900> you<00:24:22.559> have<00:24:22.679> to<00:24:22.799> choose<00:24:23.100> one<00:24:23.340> of<00:24:23.460> these 00:24:23.690 --> 00:24:23.700 align:start position:0% one of you have to choose one of these 00:24:23.700 --> 00:24:25.430 align:start position:0% one of you have to choose one of these histories<00:24:24.360> somehow<00:24:24.659> right<00:24:24.900> and<00:24:25.320> the 00:24:25.430 --> 00:24:25.440 align:start position:0% histories somehow right and the 00:24:25.440 --> 00:24:27.409 align:start position:0% histories somehow right and the mechanism<00:24:25.860> that<00:24:26.159> does<00:24:26.340> this<00:24:26.520> choosing<00:24:27.000> is 00:24:27.409 --> 00:24:27.419 align:start position:0% mechanism that does this choosing is 00:24:27.419 --> 00:24:29.810 align:start position:0% mechanism that does this choosing is called<00:24:27.659> the<00:24:28.080> fork<00:24:28.440> choice<00:24:28.679> right<00:24:28.980> because<00:24:29.220> the 00:24:29.810 --> 00:24:29.820 align:start position:0% called the fork choice right because the 00:24:29.820 --> 00:24:31.430 align:start position:0% called the fork choice right because the blockchain<00:24:30.240> forked<00:24:30.720> and<00:24:30.900> we<00:24:31.020> have<00:24:31.140> to<00:24:31.260> choose 00:24:31.430 --> 00:24:31.440 align:start position:0% blockchain forked and we have to choose 00:24:31.440 --> 00:24:33.250 align:start position:0% blockchain forked and we have to choose one<00:24:31.679> one<00:24:31.860> part<00:24:32.039> of<00:24:32.220> the<00:24:32.280> fork 00:24:33.250 --> 00:24:33.260 align:start position:0% one one part of the fork 00:24:33.260 --> 00:24:35.149 align:start position:0% one one part of the fork so 00:24:35.149 --> 00:24:35.159 align:start position:0% so 00:24:35.159 --> 00:24:37.789 align:start position:0% so the<00:24:36.059> mechanism<00:24:36.600> that<00:24:37.020> does<00:24:37.260> this<00:24:37.440> right<00:24:37.679> now 00:24:37.789 --> 00:24:37.799 align:start position:0% the mechanism that does this right now 00:24:37.799 --> 00:24:39.770 align:start position:0% the mechanism that does this right now it's<00:24:38.100> called<00:24:38.280> lmd<00:24:38.760> ghost<00:24:38.940> and<00:24:39.480> it's<00:24:39.600> very 00:24:39.770 --> 00:24:39.780 align:start position:0% it's called lmd ghost and it's very 00:24:39.780 --> 00:24:41.930 align:start position:0% it's called lmd ghost and it's very simple<00:24:40.020> it's<00:24:40.440> just<00:24:40.740> as<00:24:41.039> a<00:24:41.220> station<00:24:41.340> counting 00:24:41.930 --> 00:24:41.940 align:start position:0% simple it's just as a station counting 00:24:41.940 --> 00:24:44.149 align:start position:0% simple it's just as a station counting basically<00:24:42.780> you<00:24:43.320> have<00:24:43.440> Block<00:24:43.620> in<00:24:43.919> you<00:24:44.100> have 00:24:44.149 --> 00:24:44.159 align:start position:0% basically you have Block in you have 00:24:44.159 --> 00:24:46.070 align:start position:0% basically you have Block in you have Block<00:24:44.340> B<00:24:44.580> and<00:24:45.000> you<00:24:45.120> just<00:24:45.299> count<00:24:45.539> the<00:24:45.840> number<00:24:45.960> of 00:24:46.070 --> 00:24:46.080 align:start position:0% Block B and you just count the number of 00:24:46.080 --> 00:24:48.230 align:start position:0% Block B and you just count the number of attestations<00:24:46.620> that<00:24:46.919> support<00:24:47.039> block<00:24:47.340> a<00:24:47.640> or 00:24:48.230 --> 00:24:48.240 align:start position:0% attestations that support block a or 00:24:48.240 --> 00:24:50.630 align:start position:0% attestations that support block a or support<00:24:48.900> its<00:24:49.260> children<00:24:49.440> and<00:24:50.100> then<00:24:50.220> you<00:24:50.340> also 00:24:50.630 --> 00:24:50.640 align:start position:0% support its children and then you also 00:24:50.640 --> 00:24:52.070 align:start position:0% support its children and then you also count<00:24:50.820> the<00:24:51.059> number<00:24:51.179> of<00:24:51.360> attestations<00:24:51.840> to 00:24:52.070 --> 00:24:52.080 align:start position:0% count the number of attestations to 00:24:52.080 --> 00:24:54.409 align:start position:0% count the number of attestations to support<00:24:52.200> block<00:24:52.500> e<00:24:52.740> Block<00:24:53.100> B<00:24:53.340> or<00:24:53.940> supported 00:24:54.409 --> 00:24:54.419 align:start position:0% support block e Block B or supported 00:24:54.419 --> 00:24:55.850 align:start position:0% support block e Block B or supported indirectly<00:24:54.900> by<00:24:55.080> supporting<00:24:55.440> its<00:24:55.740> children 00:24:55.850 --> 00:24:55.860 align:start position:0% indirectly by supporting its children 00:24:55.860 --> 00:24:58.549 align:start position:0% indirectly by supporting its children you<00:24:56.520> see<00:24:56.760> which<00:24:57.000> side<00:24:57.240> has<00:24:57.539> more<00:24:57.720> in<00:24:58.320> this<00:24:58.440> case 00:24:58.549 --> 00:24:58.559 align:start position:0% you see which side has more in this case 00:24:58.559 --> 00:25:00.289 align:start position:0% you see which side has more in this case the<00:24:58.799> top<00:24:58.980> side<00:24:59.159> has<00:24:59.460> four<00:24:59.700> the<00:24:59.940> bottom<00:25:00.179> side 00:25:00.289 --> 00:25:00.299 align:start position:0% the top side has four the bottom side 00:25:00.299 --> 00:25:02.510 align:start position:0% the top side has four the bottom side has<00:25:00.600> six<00:25:00.840> the<00:25:01.260> bottom<00:25:01.559> side<00:25:01.740> wins<00:25:02.100> and<00:25:02.220> so<00:25:02.340> each 00:25:02.510 --> 00:25:02.520 align:start position:0% has six the bottom side wins and so each 00:25:02.520 --> 00:25:05.870 align:start position:0% has six the bottom side wins and so each use<00:25:02.640> Block<00:25:02.880> B<00:25:03.120> right<00:25:03.600> so<00:25:04.559> this<00:25:04.919> is<00:25:05.039> one<00:25:05.400> part<00:25:05.640> of 00:25:05.870 --> 00:25:05.880 align:start position:0% use Block B right so this is one part of 00:25:05.880 --> 00:25:08.090 align:start position:0% use Block B right so this is one part of the<00:25:06.059> yapper<00:25:06.539> of<00:25:06.659> second<00:25:06.840> census<00:25:07.380> there<00:25:07.919> is 00:25:08.090 --> 00:25:08.100 align:start position:0% the yapper of second census there is 00:25:08.100 --> 00:25:10.070 align:start position:0% the yapper of second census there is also<00:25:08.340> this<00:25:08.520> mechanism<00:25:08.940> called<00:25:09.240> Casper<00:25:09.659> FFG 00:25:10.070 --> 00:25:10.080 align:start position:0% also this mechanism called Casper FFG 00:25:10.080 --> 00:25:12.350 align:start position:0% also this mechanism called Casper FFG finalization<00:25:10.679> right<00:25:11.039> test<00:25:11.820> prep<00:25:12.000> of<00:25:12.240> G 00:25:12.350 --> 00:25:12.360 align:start position:0% finalization right test prep of G 00:25:12.360 --> 00:25:14.690 align:start position:0% finalization right test prep of G finalization<00:25:12.900> is<00:25:13.140> like<00:25:13.320> this<00:25:13.860> extra<00:25:14.100> Gadget 00:25:14.690 --> 00:25:14.700 align:start position:0% finalization is like this extra Gadget 00:25:14.700 --> 00:25:16.490 align:start position:0% finalization is like this extra Gadget that<00:25:15.000> lives<00:25:15.299> on<00:25:15.600> top<00:25:15.659> of<00:25:15.840> this<00:25:16.020> attestation 00:25:16.490 --> 00:25:16.500 align:start position:0% that lives on top of this attestation 00:25:16.500 --> 00:25:18.289 align:start position:0% that lives on top of this attestation game<00:25:16.799> and<00:25:17.280> it<00:25:17.400> gives<00:25:17.520> us<00:25:17.700> this<00:25:17.880> really<00:25:18.059> extra 00:25:18.289 --> 00:25:18.299 align:start position:0% game and it gives us this really extra 00:25:18.299 --> 00:25:20.870 align:start position:0% game and it gives us this really extra special<00:25:18.600> property<00:25:19.140> that<00:25:19.500> if 00:25:20.870 --> 00:25:20.880 align:start position:0% special property that if 00:25:20.880 --> 00:25:23.330 align:start position:0% special property that if more<00:25:21.480> than<00:25:21.659> two-thirds<00:25:22.140> of<00:25:22.260> validators<00:25:22.799> are 00:25:23.330 --> 00:25:23.340 align:start position:0% more than two-thirds of validators are 00:25:23.340 --> 00:25:25.850 align:start position:0% more than two-thirds of validators are online<00:25:23.580> and<00:25:24.000> honest<00:25:24.360> then<00:25:24.779> after<00:25:24.960> two<00:25:25.260> epochs 00:25:25.850 --> 00:25:25.860 align:start position:0% online and honest then after two epochs 00:25:25.860 --> 00:25:29.690 align:start position:0% online and honest then after two epochs so<00:25:25.980> one<00:25:26.159> Epoch<00:25:26.640> is<00:25:26.760> 32<00:25:27.059> slots<00:25:27.419> and<00:25:28.320> or<00:25:28.980> 6.4 00:25:29.690 --> 00:25:29.700 align:start position:0% so one Epoch is 32 slots and or 6.4 00:25:29.700 --> 00:25:32.269 align:start position:0% so one Epoch is 32 slots and or 6.4 minutes<00:25:29.880> so<00:25:30.179> after<00:25:30.299> 12.8<00:25:31.080> minutes<00:25:31.320> a<00:25:32.159> block 00:25:32.269 --> 00:25:32.279 align:start position:0% minutes so after 12.8 minutes a block 00:25:32.279 --> 00:25:34.669 align:start position:0% minutes so after 12.8 minutes a block gets<00:25:32.760> finalized<00:25:33.299> and<00:25:33.720> that<00:25:33.900> block<00:25:34.080> cannot<00:25:34.559> be 00:25:34.669 --> 00:25:34.679 align:start position:0% gets finalized and that block cannot be 00:25:34.679 --> 00:25:36.830 align:start position:0% gets finalized and that block cannot be reverted<00:25:35.100> right<00:25:35.400> so<00:25:35.940> if<00:25:36.059> we<00:25:36.419> take<00:25:36.600> this 00:25:36.830 --> 00:25:36.840 align:start position:0% reverted right so if we take this 00:25:36.840 --> 00:25:38.870 align:start position:0% reverted right so if we take this example<00:25:37.140> if<00:25:37.320> we<00:25:37.440> take<00:25:37.559> the<00:25:37.740> Block<00:25:38.159> B<00:25:38.400> over<00:25:38.640> here 00:25:38.870 --> 00:25:38.880 align:start position:0% example if we take the Block B over here 00:25:38.880 --> 00:25:41.870 align:start position:0% example if we take the Block B over here after<00:25:39.480> one<00:25:39.779> Epoch<00:25:40.380> if<00:25:40.919> more<00:25:41.220> than<00:25:41.340> two-thirds 00:25:41.870 --> 00:25:41.880 align:start position:0% after one Epoch if more than two-thirds 00:25:41.880 --> 00:25:43.610 align:start position:0% after one Epoch if more than two-thirds of<00:25:41.940> the<00:25:42.059> Adjusters<00:25:42.539> in<00:25:42.779> that<00:25:42.840> Epoch<00:25:43.260> support<00:25:43.380> B 00:25:43.610 --> 00:25:43.620 align:start position:0% of the Adjusters in that Epoch support B 00:25:43.620 --> 00:25:45.950 align:start position:0% of the Adjusters in that Epoch support B then<00:25:44.039> B<00:25:44.279> is<00:25:44.460> Justified<00:25:44.820> and<00:25:45.360> if<00:25:45.539> after<00:25:45.720> another 00:25:45.950 --> 00:25:45.960 align:start position:0% then B is Justified and if after another 00:25:45.960 --> 00:25:48.049 align:start position:0% then B is Justified and if after another Epoch<00:25:46.620> more<00:25:46.799> than<00:25:46.980> two-thirds<00:25:47.460> of<00:25:47.580> a<00:25:47.700> tester 00:25:48.049 --> 00:25:48.059 align:start position:0% Epoch more than two-thirds of a tester 00:25:48.059 --> 00:25:50.269 align:start position:0% Epoch more than two-thirds of a tester still<00:25:48.299> support<00:25:48.480> B<00:25:48.720> then<00:25:49.200> b<00:25:49.440> gets<00:25:49.799> finalized 00:25:50.269 --> 00:25:50.279 align:start position:0% still support B then b gets finalized 00:25:50.279 --> 00:25:52.310 align:start position:0% still support B then b gets finalized right<00:25:50.460> once<00:25:51.240> the<00:25:51.299> block<00:25:51.480> is<00:25:51.720> finalized<00:25:52.140> it 00:25:52.310 --> 00:25:52.320 align:start position:0% right once the block is finalized it 00:25:52.320 --> 00:25:54.710 align:start position:0% right once the block is finalized it cannot<00:25:52.559> be<00:25:52.679> reverted<00:25:53.159> but<00:25:53.760> you<00:25:54.059> know<00:25:54.240> in 00:25:54.710 --> 00:25:54.720 align:start position:0% cannot be reverted but you know in 00:25:54.720 --> 00:25:56.690 align:start position:0% cannot be reverted but you know in practice<00:25:54.900> waiting<00:25:55.559> for<00:25:55.740> the<00:25:55.919> Casper<00:25:56.279> F<00:25:56.460> of<00:25:56.580> G 00:25:56.690 --> 00:25:56.700 align:start position:0% practice waiting for the Casper F of G 00:25:56.700 --> 00:25:58.850 align:start position:0% practice waiting for the Casper F of G finality<00:25:57.120> is<00:25:57.299> like<00:25:57.600> more<00:25:58.080> a<00:25:58.320> thing<00:25:58.440> for<00:25:58.679> high 00:25:58.850 --> 00:25:58.860 align:start position:0% finality is like more a thing for high 00:25:58.860 --> 00:26:01.730 align:start position:0% finality is like more a thing for high value<00:25:59.039> use<00:25:59.460> cases<00:25:59.760> if<00:26:00.539> you<00:26:00.779> are<00:26:00.960> just<00:26:01.260> making<00:26:01.440> a 00:26:01.730 --> 00:26:01.740 align:start position:0% value use cases if you are just making a 00:26:01.740 --> 00:26:03.409 align:start position:0% value use cases if you are just making a very<00:26:01.860> simple<00:26:02.159> application<00:26:02.640> that's<00:26:03.000> not<00:26:03.240> doing 00:26:03.409 --> 00:26:03.419 align:start position:0% very simple application that's not doing 00:26:03.419 --> 00:26:05.350 align:start position:0% very simple application that's not doing anything<00:26:03.600> super<00:26:04.020> high<00:26:04.260> value<00:26:04.440> then<00:26:04.860> generally 00:26:05.350 --> 00:26:05.360 align:start position:0% anything super high value then generally 00:26:05.360 --> 00:26:08.450 align:start position:0% anything super high value then generally one<00:26:06.360> of<00:26:06.539> what<00:26:06.720> we<00:26:06.840> call<00:26:06.960> safe<00:26:07.260> swad<00:26:07.799> is<00:26:08.279> enough 00:26:08.450 --> 00:26:08.460 align:start position:0% one of what we call safe swad is enough 00:26:08.460 --> 00:26:10.130 align:start position:0% one of what we call safe swad is enough for<00:26:08.760> most<00:26:08.940> applications<00:26:09.419> right<00:26:09.720> so<00:26:09.900> if<00:26:10.020> you 00:26:10.130 --> 00:26:10.140 align:start position:0% for most applications right so if you 00:26:10.140 --> 00:26:12.350 align:start position:0% for most applications right so if you have<00:26:10.320> one<00:26:10.559> slot<00:26:10.980> we're<00:26:11.400> doing<00:26:11.640> that's<00:26:12.059> what 00:26:12.350 --> 00:26:12.360 align:start position:0% have one slot we're doing that's what 00:26:12.360 --> 00:26:14.090 align:start position:0% have one slot we're doing that's what the<00:26:12.600> proposer<00:26:13.020> acts<00:26:13.260> correctly<00:26:13.559> and<00:26:13.740> he<00:26:13.860> gets 00:26:14.090 --> 00:26:14.100 align:start position:0% the proposer acts correctly and he gets 00:26:14.100 --> 00:26:16.010 align:start position:0% the proposer acts correctly and he gets lots<00:26:14.279> of<00:26:14.340> attestations<00:26:14.880> then<00:26:15.600> that's<00:26:15.779> like 00:26:16.010 --> 00:26:16.020 align:start position:0% lots of attestations then that's like 00:26:16.020 --> 00:26:17.810 align:start position:0% lots of attestations then that's like generally<00:26:16.380> enough<00:26:16.620> to<00:26:16.860> be<00:26:16.980> secure 00:26:17.810 --> 00:26:17.820 align:start position:0% generally enough to be secure 00:26:17.820 --> 00:26:20.269 align:start position:0% generally enough to be secure Merkle<00:26:18.600> tree<00:26:18.779> is 00:26:20.269 --> 00:26:20.279 align:start position:0% Merkle tree is 00:26:20.279 --> 00:26:22.669 align:start position:0% Merkle tree is um<00:26:20.340> who<00:26:20.700> here<00:26:20.940> knows<00:26:21.360> uh<00:26:21.480> who's<00:26:22.080> um<00:26:22.080> on<00:26:22.260> the<00:26:22.380> yep 00:26:22.669 --> 00:26:22.679 align:start position:0% um who here knows uh who's um on the yep 00:26:22.679 --> 00:26:24.289 align:start position:0% um who here knows uh who's um on the yep picture<00:26:22.799> here 00:26:24.289 --> 00:26:24.299 align:start position:0% picture here 00:26:24.299 --> 00:26:26.750 align:start position:0% picture here um<00:26:24.360> who<00:26:24.480> here<00:26:24.720> thinks<00:26:25.080> it's<00:26:25.140> records<00:26:25.679> while 00:26:26.750 --> 00:26:26.760 align:start position:0% um who here thinks it's records while 00:26:26.760 --> 00:26:28.909 align:start position:0% um who here thinks it's records while who<00:26:27.059> here<00:26:27.240> thinks<00:26:27.539> it's<00:26:27.600> Ray<00:26:27.779> dalio 00:26:28.909 --> 00:26:28.919 align:start position:0% who here thinks it's Ray dalio 00:26:28.919 --> 00:26:31.610 align:start position:0% who here thinks it's Ray dalio who<00:26:29.580> here<00:26:29.820> thinks<00:26:30.179> it's<00:26:30.299> Craig<00:26:30.419> right 00:26:31.610 --> 00:26:31.620 align:start position:0% who here thinks it's Craig right 00:26:31.620 --> 00:26:36.890 align:start position:0% who here thinks it's Craig right who<00:26:32.400> here<00:26:32.659> thinks<00:26:33.659> it's<00:26:34.320> uh<00:26:34.740> Satoshi 00:26:36.890 --> 00:26:36.900 align:start position:0% who here thinks it's uh Satoshi 00:26:36.900 --> 00:26:38.510 align:start position:0% who here thinks it's uh Satoshi um<00:26:37.020> interesting<00:26:37.740> so<00:26:37.919> a<00:26:38.100> few<00:26:38.220> people<00:26:38.340> think 00:26:38.510 --> 00:26:38.520 align:start position:0% um interesting so a few people think 00:26:38.520 --> 00:26:40.370 align:start position:0% um interesting so a few people think Ralph<00:26:38.880> Mercola<00:26:39.240> Satoshi<00:26:39.720> that's<00:26:39.900> fascinating 00:26:40.370 --> 00:26:40.380 align:start position:0% Ralph Mercola Satoshi that's fascinating 00:26:40.380 --> 00:26:42.649 align:start position:0% Ralph Mercola Satoshi that's fascinating okay<00:26:41.100> I<00:26:41.460> gave<00:26:41.580> away<00:26:41.760> the<00:26:42.000> answer<00:26:42.120> it's<00:26:42.299> Ralph 00:26:42.649 --> 00:26:42.659 align:start position:0% okay I gave away the answer it's Ralph 00:26:42.659 --> 00:26:45.230 align:start position:0% okay I gave away the answer it's Ralph Merkel<00:26:43.020> right<00:26:43.260> so<00:26:43.860> Ralph<00:26:44.640> Burkle<00:26:45.000> is<00:26:45.120> great 00:26:45.230 --> 00:26:45.240 align:start position:0% Merkel right so Ralph Burkle is great 00:26:45.240 --> 00:26:46.850 align:start position:0% Merkel right so Ralph Burkle is great because<00:26:45.419> he<00:26:45.539> invented<00:26:45.900> Merkle<00:26:46.260> trees<00:26:46.559> and<00:26:46.679> he 00:26:46.850 --> 00:26:46.860 align:start position:0% because he invented Merkle trees and he 00:26:46.860 --> 00:26:49.250 align:start position:0% because he invented Merkle trees and he also<00:26:47.039> invented<00:26:47.880> um<00:26:47.880> the<00:26:48.179> Merkel<00:26:48.840> Dam<00:26:49.020> guard 00:26:49.250 --> 00:26:49.260 align:start position:0% also invented um the Merkel Dam guard 00:26:49.260 --> 00:26:51.529 align:start position:0% also invented um the Merkel Dam guard construction<00:26:49.559> for<00:26:50.039> hash<00:26:50.279> functions<00:26:51.179> um<00:26:51.179> which 00:26:51.529 --> 00:26:51.539 align:start position:0% construction for hash functions um which 00:26:51.539 --> 00:26:53.390 align:start position:0% construction for hash functions um which you<00:26:52.020> know<00:26:52.140> actually<00:26:52.320> has<00:26:52.740> uh<00:26:52.919> has<00:26:53.279> some 00:26:53.390 --> 00:26:53.400 align:start position:0% you know actually has uh has some 00:26:53.400 --> 00:26:55.730 align:start position:0% you know actually has uh has some problems<00:26:53.820> since<00:26:54.059> and<00:26:54.600> uh<00:26:54.900> it's<00:26:55.500> um<00:26:55.500> you<00:26:55.620> know 00:26:55.730 --> 00:26:55.740 align:start position:0% problems since and uh it's um you know 00:26:55.740 --> 00:26:57.049 align:start position:0% problems since and uh it's um you know why<00:26:55.860> people<00:26:56.039> want<00:26:56.279> to<00:26:56.400> switch<00:26:56.460> to<00:26:56.700> sponges 00:26:57.049 --> 00:26:57.059 align:start position:0% why people want to switch to sponges 00:26:57.059 --> 00:26:58.549 align:start position:0% why people want to switch to sponges lately<00:26:57.360> but<00:26:57.539> it<00:26:57.659> was<00:26:57.779> you<00:26:58.080> know<00:26:58.140> an<00:26:58.320> amazing 00:26:58.549 --> 00:26:58.559 align:start position:0% lately but it was you know an amazing 00:26:58.559 --> 00:27:01.850 align:start position:0% lately but it was you know an amazing invention<00:26:58.980> for<00:26:59.220> its<00:26:59.460> time<00:26:59.779> and<00:27:00.779> you<00:27:01.440> know<00:27:01.500> he 00:27:01.850 --> 00:27:01.860 align:start position:0% invention for its time and you know he 00:27:01.860 --> 00:27:04.490 align:start position:0% invention for its time and you know he uh<00:27:02.279> recently<00:27:03.000> also<00:27:03.779> doing<00:27:03.900> some<00:27:04.140> interesting 00:27:04.490 --> 00:27:04.500 align:start position:0% uh recently also doing some interesting 00:27:04.500 --> 00:27:06.590 align:start position:0% uh recently also doing some interesting stuff<00:27:04.679> about<00:27:04.919> cryonics<00:27:05.520> but<00:27:05.820> you<00:27:06.120> know<00:27:06.240> Merkle 00:27:06.590 --> 00:27:06.600 align:start position:0% stuff about cryonics but you know Merkle 00:27:06.600 --> 00:27:09.529 align:start position:0% stuff about cryonics but you know Merkle trees<00:27:06.960> are<00:27:07.080> great<00:27:07.260> and<00:27:07.860> dojas<00:27:08.580> are<00:27:08.700> also<00:27:08.940> great 00:27:09.529 --> 00:27:09.539 align:start position:0% trees are great and dojas are also great 00:27:09.539 --> 00:27:11.149 align:start position:0% trees are great and dojas are also great um<00:27:09.600> rough<00:27:09.900> workout<00:27:10.080> doses<00:27:10.679> are<00:27:10.799> not<00:27:10.980> actually 00:27:11.149 --> 00:27:11.159 align:start position:0% um rough workout doses are not actually 00:27:11.159 --> 00:27:12.830 align:start position:0% um rough workout doses are not actually connected<00:27:11.640> the<00:27:11.940> only<00:27:12.000> connection<00:27:12.179> is<00:27:12.539> that<00:27:12.720> I 00:27:12.830 --> 00:27:12.840 align:start position:0% connected the only connection is that I 00:27:12.840 --> 00:27:16.370 align:start position:0% connected the only connection is that I like<00:27:12.960> both<00:27:13.140> of<00:27:13.320> them<00:27:13.919> um<00:27:14.039> but<00:27:14.400> the<00:27:15.720> um<00:27:15.720> so<00:27:16.200> what 00:27:16.370 --> 00:27:16.380 align:start position:0% like both of them um but the um so what 00:27:16.380 --> 00:27:18.350 align:start position:0% like both of them um but the um so what are<00:27:16.500> Merkle<00:27:16.860> trees<00:27:17.100> right<00:27:17.279> a<00:27:17.580> Merkel<00:27:18.000> tree<00:27:18.179> is 00:27:18.350 --> 00:27:18.360 align:start position:0% are Merkle trees right a Merkel tree is 00:27:18.360 --> 00:27:20.390 align:start position:0% are Merkle trees right a Merkel tree is like<00:27:18.480> this<00:27:18.659> data<00:27:19.020> structure<00:27:19.380> that<00:27:19.919> lets<00:27:20.340> you 00:27:20.390 --> 00:27:20.400 align:start position:0% like this data structure that lets you 00:27:20.400 --> 00:27:23.690 align:start position:0% like this data structure that lets you create<00:27:21.240> one<00:27:21.840> small<00:27:22.080> object<00:27:22.500> that<00:27:23.039> commits<00:27:23.580> to 00:27:23.690 --> 00:27:23.700 align:start position:0% create one small object that commits to 00:27:23.700 --> 00:27:26.029 align:start position:0% create one small object that commits to a<00:27:23.820> large<00:27:24.000> number<00:27:24.179> of<00:27:24.360> objects<00:27:24.840> where<00:27:25.500> it 00:27:26.029 --> 00:27:26.039 align:start position:0% a large number of objects where it 00:27:26.039 --> 00:27:28.610 align:start position:0% a large number of objects where it becomes<00:27:26.460> very<00:27:26.640> easy<00:27:26.880> to<00:27:27.240> prove<00:27:27.659> for<00:27:28.200> any<00:27:28.380> one 00:27:28.610 --> 00:27:28.620 align:start position:0% becomes very easy to prove for any one 00:27:28.620 --> 00:27:30.710 align:start position:0% becomes very easy to prove for any one of<00:27:28.740> those<00:27:28.860> objects<00:27:29.400> that<00:27:29.820> that<00:27:30.000> object<00:27:30.360> is 00:27:30.710 --> 00:27:30.720 align:start position:0% of those objects that that object is 00:27:30.720 --> 00:27:32.630 align:start position:0% of those objects that that object is inside<00:27:31.020> of<00:27:31.380> this<00:27:31.500> entire<00:27:31.799> big<00:27:32.039> entire<00:27:32.400> tree 00:27:32.630 --> 00:27:32.640 align:start position:0% inside of this entire big entire tree 00:27:32.640 --> 00:27:34.669 align:start position:0% inside of this entire big entire tree right<00:27:33.059> so<00:27:33.659> you<00:27:33.779> have<00:27:33.900> this<00:27:34.080> one<00:27:34.260> object<00:27:34.500> that's 00:27:34.669 --> 00:27:34.679 align:start position:0% right so you have this one object that's 00:27:34.679 --> 00:27:36.289 align:start position:0% right so you have this one object that's called<00:27:34.919> you<00:27:35.279> know<00:27:35.400> a<00:27:35.520> header<00:27:35.760> and<00:27:35.940> it<00:27:36.059> might<00:27:36.120> be 00:27:36.289 --> 00:27:36.299 align:start position:0% called you know a header and it might be 00:27:36.299 --> 00:27:37.789 align:start position:0% called you know a header and it might be committing<00:27:36.900> to<00:27:37.020> like<00:27:37.200> a<00:27:37.320> million<00:27:37.620> different 00:27:37.789 --> 00:27:37.799 align:start position:0% committing to like a million different 00:27:37.799 --> 00:27:40.070 align:start position:0% committing to like a million different things<00:27:38.100> and<00:27:38.700> for<00:27:38.940> any<00:27:39.120> one<00:27:39.419> of<00:27:39.480> those<00:27:39.659> million 00:27:40.070 --> 00:27:40.080 align:start position:0% things and for any one of those million 00:27:40.080 --> 00:27:42.230 align:start position:0% things and for any one of those million things<00:27:40.320> you<00:27:40.919> can<00:27:41.039> make<00:27:41.279> a<00:27:41.520> short<00:27:41.640> proof<00:27:42.120> that 00:27:42.230 --> 00:27:42.240 align:start position:0% things you can make a short proof that 00:27:42.240 --> 00:27:44.330 align:start position:0% things you can make a short proof that shows<00:27:42.659> that<00:27:42.779> that<00:27:42.960> one<00:27:43.200> thing<00:27:43.320> actually<00:27:43.919> is 00:27:44.330 --> 00:27:44.340 align:start position:0% shows that that one thing actually is 00:27:44.340 --> 00:27:45.950 align:start position:0% shows that that one thing actually is you<00:27:44.700> know<00:27:44.760> in<00:27:45.059> these<00:27:45.360> set<00:27:45.480> of<00:27:45.600> things<00:27:45.779> that 00:27:45.950 --> 00:27:45.960 align:start position:0% you know in these set of things that 00:27:45.960 --> 00:27:47.630 align:start position:0% you know in these set of things that that's<00:27:46.320> been<00:27:46.500> committed<00:27:46.919> to 00:27:47.630 --> 00:27:47.640 align:start position:0% that's been committed to 00:27:47.640 --> 00:27:49.909 align:start position:0% that's been committed to why<00:27:48.120> do<00:27:48.179> we<00:27:48.299> care<00:27:48.419> about<00:27:48.600> this<00:27:48.840> well 00:27:49.909 --> 00:27:49.919 align:start position:0% why do we care about this well 00:27:49.919 --> 00:27:53.510 align:start position:0% why do we care about this well ethereum<00:27:50.640> blocks<00:27:51.120> are<00:27:51.240> big<00:27:51.620> the<00:27:52.620> ethereum 00:27:53.510 --> 00:27:53.520 align:start position:0% ethereum blocks are big the ethereum 00:27:53.520 --> 00:27:55.789 align:start position:0% ethereum blocks are big the ethereum state<00:27:54.000> is<00:27:54.539> even<00:27:54.720> bigger<00:27:55.080> right<00:27:55.260> the<00:27:55.380> ethereum 00:27:55.789 --> 00:27:55.799 align:start position:0% state is even bigger right the ethereum 00:27:55.799 --> 00:27:58.250 align:start position:0% state is even bigger right the ethereum state<00:27:56.100> is<00:27:56.340> like<00:27:56.520> 40<00:27:56.700> gigabytes<00:27:57.299> so<00:27:57.900> what<00:27:58.140> if 00:27:58.250 --> 00:27:58.260 align:start position:0% state is like 40 gigabytes so what if 00:27:58.260 --> 00:28:00.350 align:start position:0% state is like 40 gigabytes so what if you<00:27:58.500> wants<00:27:58.799> to<00:27:58.860> prove<00:27:59.400> something<00:28:00.059> that 00:28:00.350 --> 00:28:00.360 align:start position:0% you wants to prove something that 00:28:00.360 --> 00:28:01.850 align:start position:0% you wants to prove something that happens<00:28:00.539> in<00:28:00.840> a<00:28:00.960> block<00:28:01.080> or<00:28:01.320> prove<00:28:01.679> something 00:28:01.850 --> 00:28:01.860 align:start position:0% happens in a block or prove something 00:28:01.860 --> 00:28:03.890 align:start position:0% happens in a block or prove something about<00:28:02.100> your<00:28:02.400> account<00:28:02.580> and<00:28:03.299> you<00:28:03.419> want<00:28:03.539> to<00:28:03.659> prove 00:28:03.890 --> 00:28:03.900 align:start position:0% about your account and you want to prove 00:28:03.900 --> 00:28:05.690 align:start position:0% about your account and you want to prove it<00:28:03.960> to<00:28:04.140> someone<00:28:04.320> that<00:28:04.980> has<00:28:05.220> these<00:28:05.580> block 00:28:05.690 --> 00:28:05.700 align:start position:0% it to someone that has these block 00:28:05.700 --> 00:28:07.430 align:start position:0% it to someone that has these block headers<00:28:06.120> that<00:28:06.240> are<00:28:06.360> at<00:28:06.480> the<00:28:06.659> top<00:28:06.779> but<00:28:07.260> that 00:28:07.430 --> 00:28:07.440 align:start position:0% headers that are at the top but that 00:28:07.440 --> 00:28:09.529 align:start position:0% headers that are at the top but that does<00:28:07.620> not<00:28:07.799> have<00:28:07.980> the<00:28:08.279> entire<00:28:08.520> 40<00:28:08.760> gig<00:28:09.120> 40 00:28:09.529 --> 00:28:09.539 align:start position:0% does not have the entire 40 gig 40 00:28:09.539 --> 00:28:11.390 align:start position:0% does not have the entire 40 gig 40 gigabytes<00:28:10.020> or<00:28:10.140> the<00:28:10.380> entire<00:28:10.620> you<00:28:11.100> know<00:28:11.159> really 00:28:11.390 --> 00:28:11.400 align:start position:0% gigabytes or the entire you know really 00:28:11.400 --> 00:28:14.269 align:start position:0% gigabytes or the entire you know really huge<00:28:11.760> amount<00:28:11.940> of<00:28:12.120> of<00:28:12.620> data<00:28:13.620> in<00:28:13.799> the<00:28:13.919> ethereum 00:28:14.269 --> 00:28:14.279 align:start position:0% huge amount of of data in the ethereum 00:28:14.279 --> 00:28:16.370 align:start position:0% huge amount of of data in the ethereum chain<00:28:14.520> well<00:28:15.000> Miracle<00:28:15.659> proofs<00:28:15.960> come<00:28:16.140> to<00:28:16.260> the 00:28:16.370 --> 00:28:16.380 align:start position:0% chain well Miracle proofs come to the 00:28:16.380 --> 00:28:18.409 align:start position:0% chain well Miracle proofs come to the rescue<00:28:16.679> right<00:28:16.919> basically<00:28:17.400> you<00:28:17.940> just<00:28:18.120> provide 00:28:18.409 --> 00:28:18.419 align:start position:0% rescue right basically you just provide 00:28:18.419 --> 00:28:20.570 align:start position:0% rescue right basically you just provide the<00:28:18.659> value<00:28:18.840> you<00:28:19.380> provide<00:28:19.740> a<00:28:20.039> couple<00:28:20.159> of<00:28:20.340> like 00:28:20.570 --> 00:28:20.580 align:start position:0% the value you provide a couple of like 00:28:20.580 --> 00:28:22.370 align:start position:0% the value you provide a couple of like sister<00:28:20.820> hashes<00:28:21.419> going<00:28:21.659> up<00:28:21.840> along<00:28:22.020> the<00:28:22.260> tree 00:28:22.370 --> 00:28:22.380 align:start position:0% sister hashes going up along the tree 00:28:22.380 --> 00:28:25.010 align:start position:0% sister hashes going up along the tree and<00:28:23.100> anyone<00:28:23.520> can<00:28:23.760> verify<00:28:24.179> the<00:28:24.360> proof<00:28:24.600> by<00:28:24.779> just 00:28:25.010 --> 00:28:25.020 align:start position:0% and anyone can verify the proof by just 00:28:25.020 --> 00:28:26.330 align:start position:0% and anyone can verify the proof by just kind<00:28:25.140> of<00:28:25.260> continuing<00:28:25.620> the<00:28:25.799> hash<00:28:25.980> up<00:28:26.159> the 00:28:26.330 --> 00:28:26.340 align:start position:0% kind of continuing the hash up the 00:28:26.340 --> 00:28:28.850 align:start position:0% kind of continuing the hash up the values<00:28:27.000> going<00:28:27.240> going<00:28:27.480> up<00:28:27.779> together<00:28:27.960> and<00:28:28.740> then 00:28:28.850 --> 00:28:28.860 align:start position:0% values going going up together and then 00:28:28.860 --> 00:28:30.110 align:start position:0% values going going up together and then seeing<00:28:29.220> whether<00:28:29.400> the<00:28:29.700> route<00:28:29.820> they<00:28:30.000> get 00:28:30.110 --> 00:28:30.120 align:start position:0% seeing whether the route they get 00:28:30.120 --> 00:28:32.269 align:start position:0% seeing whether the route they get matches<00:28:30.600> right<00:28:30.840> so<00:28:31.200> really<00:28:31.919> powerful 00:28:32.269 --> 00:28:32.279 align:start position:0% matches right so really powerful 00:28:32.279 --> 00:28:34.310 align:start position:0% matches right so really powerful technology<00:28:32.760> ethereum<00:28:33.720> actually<00:28:33.960> you<00:28:34.260> know 00:28:34.310 --> 00:28:34.320 align:start position:0% technology ethereum actually you know 00:28:34.320 --> 00:28:36.289 align:start position:0% technology ethereum actually you know uses<00:28:34.679> it<00:28:34.799> everywhere 00:28:36.289 --> 00:28:36.299 align:start position:0% uses it everywhere 00:28:36.299 --> 00:28:38.210 align:start position:0% uses it everywhere um<00:28:36.360> last<00:28:36.659> fun<00:28:36.960> thing<00:28:37.140> Layer<00:28:37.559> Two<00:28:37.679> protocols 00:28:38.210 --> 00:28:38.220 align:start position:0% um last fun thing Layer Two protocols 00:28:38.220 --> 00:28:41.330 align:start position:0% um last fun thing Layer Two protocols right<00:28:38.340> so<00:28:38.580> most<00:28:38.820> people<00:28:39.320> or<00:28:40.340> increasingly 00:28:41.330 --> 00:28:41.340 align:start position:0% right so most people or increasingly 00:28:41.340 --> 00:28:43.070 align:start position:0% right so most people or increasingly more<00:28:41.580> and<00:28:41.700> more<00:28:41.940> people<00:28:42.059> don't<00:28:42.419> use<00:28:42.600> ethereum 00:28:43.070 --> 00:28:43.080 align:start position:0% more and more people don't use ethereum 00:28:43.080 --> 00:28:44.870 align:start position:0% more and more people don't use ethereum directly<00:28:43.500> they<00:28:43.980> usually<00:28:44.340> what<00:28:44.640> are<00:28:44.760> called 00:28:44.870 --> 00:28:44.880 align:start position:0% directly they usually what are called 00:28:44.880 --> 00:28:47.149 align:start position:0% directly they usually what are called Layer<00:28:45.179> Two<00:28:45.360> protocols<00:28:45.960> that<00:28:46.620> inherit 00:28:47.149 --> 00:28:47.159 align:start position:0% Layer Two protocols that inherit 00:28:47.159 --> 00:28:49.070 align:start position:0% Layer Two protocols that inherit security<00:28:47.400> from<00:28:47.820> ethereum<00:28:48.360> and<00:28:48.600> add<00:28:48.779> higher 00:28:49.070 --> 00:28:49.080 align:start position:0% security from ethereum and add higher 00:28:49.080 --> 00:28:52.010 align:start position:0% security from ethereum and add higher scalability<00:28:49.559> on<00:28:49.860> top<00:28:49.980> right<00:28:50.279> so<00:28:50.720> Roll-Ups<00:28:51.720> I 00:28:52.010 --> 00:28:52.020 align:start position:0% scalability on top right so Roll-Ups I 00:28:52.020 --> 00:28:53.690 align:start position:0% scalability on top right so Roll-Ups I wrote<00:28:52.200> an<00:28:52.380> article<00:28:52.679> on<00:28:52.860> them<00:28:53.100> they're<00:28:53.460> really 00:28:53.690 --> 00:28:53.700 align:start position:0% wrote an article on them they're really 00:28:53.700 --> 00:28:55.850 align:start position:0% wrote an article on them they're really fun<00:28:53.940> there's<00:28:54.480> a<00:28:54.659> bunch<00:28:54.779> of<00:28:54.900> them<00:28:55.080> from<00:28:55.740> a 00:28:55.850 --> 00:28:55.860 align:start position:0% fun there's a bunch of them from a 00:28:55.860 --> 00:28:57.470 align:start position:0% fun there's a bunch of them from a user's<00:28:56.279> point<00:28:56.400> of<00:28:56.580> view<00:28:56.700> living<00:28:57.000> on<00:28:57.240> a<00:28:57.360> modern 00:28:57.470 --> 00:28:57.480 align:start position:0% user's point of view living on a modern 00:28:57.480 --> 00:28:59.990 align:start position:0% user's point of view living on a modern Layer<00:28:57.900> Two<00:28:58.140> feels<00:28:58.980> like<00:28:59.039> living<00:28:59.279> on<00:28:59.520> ethereum 00:28:59.990 --> 00:29:00.000 align:start position:0% Layer Two feels like living on ethereum 00:29:00.000 --> 00:29:01.909 align:start position:0% Layer Two feels like living on ethereum you<00:29:00.419> know<00:29:00.480> applications<00:29:00.960> work<00:29:01.380> the<00:29:01.620> same<00:29:01.740> way 00:29:01.909 --> 00:29:01.919 align:start position:0% you know applications work the same way 00:29:01.919 --> 00:29:04.370 align:start position:0% you know applications work the same way but<00:29:02.640> because<00:29:03.000> these<00:29:03.480> applications<00:29:03.960> don't 00:29:04.370 --> 00:29:04.380 align:start position:0% but because these applications don't 00:29:04.380 --> 00:29:06.049 align:start position:0% but because these applications don't stick<00:29:04.620> everything<00:29:04.919> on<00:29:05.159> ethereum<00:29:05.580> directly 00:29:06.049 --> 00:29:06.059 align:start position:0% stick everything on ethereum directly 00:29:06.059 --> 00:29:08.990 align:start position:0% stick everything on ethereum directly fees<00:29:06.779> are<00:29:06.900> many<00:29:07.020> times<00:29:07.200> lower<00:29:07.500> so<00:29:08.220> layer<00:29:08.760> twos 00:29:08.990 --> 00:29:09.000 align:start position:0% fees are many times lower so layer twos 00:29:09.000 --> 00:29:10.730 align:start position:0% fees are many times lower so layer twos are<00:29:09.120> great<00:29:09.240> layer<00:29:09.539> twos<00:29:09.779> are<00:29:09.960> how<00:29:10.080> ethereum<00:29:10.559> is 00:29:10.730 --> 00:29:10.740 align:start position:0% are great layer twos are how ethereum is 00:29:10.740 --> 00:29:12.649 align:start position:0% are great layer twos are how ethereum is scaling<00:29:11.520> and<00:29:12.000> you<00:29:12.179> know<00:29:12.299> we<00:29:12.419> encourage 00:29:12.649 --> 00:29:12.659 align:start position:0% scaling and you know we encourage 00:29:12.659 --> 00:29:14.330 align:start position:0% scaling and you know we encourage everyone<00:29:12.900> to<00:29:13.260> pay<00:29:13.559> attention<00:29:13.860> and<00:29:14.039> learn<00:29:14.220> a 00:29:14.330 --> 00:29:14.340 align:start position:0% everyone to pay attention and learn a 00:29:14.340 --> 00:29:16.430 align:start position:0% everyone to pay attention and learn a lot<00:29:14.460> about<00:29:14.580> layer<00:29:14.880> twos<00:29:15.120> this<00:29:15.299> year<00:29:15.840> so 00:29:16.430 --> 00:29:16.440 align:start position:0% lot about layer twos this year so 00:29:16.440 --> 00:29:19.070 align:start position:0% lot about layer twos this year so finally<00:29:16.980> you<00:29:17.460> know<00:29:17.580> future<00:29:17.940> directions<00:29:18.299> the 00:29:19.070 --> 00:29:19.080 align:start position:0% finally you know future directions the 00:29:19.080 --> 00:29:22.490 align:start position:0% finally you know future directions the merge<00:29:19.440> done<00:29:19.919> yay 00:29:22.490 --> 00:29:22.500 align:start position:0% merge done yay 00:29:22.500 --> 00:29:25.310 align:start position:0% merge done yay um 00:29:25.310 --> 00:29:25.320 align:start position:0% 00:29:25.320 --> 00:29:28.789 align:start position:0% okay<00:29:26.000> next<00:29:27.000> stop<00:29:27.179> the<00:29:27.779> search<00:29:27.960> increasing 00:29:28.789 --> 00:29:28.799 align:start position:0% okay next stop the search increasing 00:29:28.799 --> 00:29:30.590 align:start position:0% okay next stop the search increasing scalability<00:29:29.340> going<00:29:29.940> finally<00:29:30.360> going 00:29:30.590 --> 00:29:30.600 align:start position:0% scalability going finally going 00:29:30.600 --> 00:29:32.090 align:start position:0% scalability going finally going sustainably<00:29:31.200> below<00:29:31.559> five<00:29:31.679> cents<00:29:31.919> a 00:29:32.090 --> 00:29:32.100 align:start position:0% sustainably below five cents a 00:29:32.100 --> 00:29:33.409 align:start position:0% sustainably below five cents a transaction<00:29:32.460> going<00:29:32.760> getting<00:29:33.059> us<00:29:33.240> to 00:29:33.409 --> 00:29:33.419 align:start position:0% transaction going getting us to 00:29:33.419 --> 00:29:35.630 align:start position:0% transaction going getting us to thousands<00:29:33.840> of<00:29:33.960> transactions<00:29:34.500> a<00:29:34.620> second<00:29:34.799> next 00:29:35.630 --> 00:29:35.640 align:start position:0% thousands of transactions a second next 00:29:35.640 --> 00:29:36.950 align:start position:0% thousands of transactions a second next up 00:29:36.950 --> 00:29:36.960 align:start position:0% up 00:29:36.960 --> 00:29:38.990 align:start position:0% up The<00:29:37.380> Verge<00:29:37.679> replacing<00:29:38.159> Merkle<00:29:38.520> trees<00:29:38.760> with 00:29:38.990 --> 00:29:39.000 align:start position:0% The Verge replacing Merkle trees with 00:29:39.000 --> 00:29:40.370 align:start position:0% The Verge replacing Merkle trees with more<00:29:39.179> efficient<00:29:39.480> structures<00:29:39.960> don't<00:29:40.200> let 00:29:40.370 --> 00:29:40.380 align:start position:0% more efficient structures don't let 00:29:40.380 --> 00:29:42.470 align:start position:0% more efficient structures don't let ethereum<00:29:40.799> knows<00:29:41.039> be<00:29:41.220> much<00:29:41.399> lighter<00:29:41.820> ethereum 00:29:42.470 --> 00:29:42.480 align:start position:0% ethereum knows be much lighter ethereum 00:29:42.480 --> 00:29:44.029 align:start position:0% ethereum knows be much lighter ethereum notes<00:29:42.899> don't<00:29:43.020> have<00:29:43.200> to<00:29:43.320> have<00:29:43.380> huge<00:29:43.620> amounts<00:29:43.919> of 00:29:44.029 --> 00:29:44.039 align:start position:0% notes don't have to have huge amounts of 00:29:44.039 --> 00:29:45.710 align:start position:0% notes don't have to have huge amounts of data<00:29:44.279> becomes<00:29:44.640> much<00:29:44.820> easier<00:29:45.059> for<00:29:45.299> anyone<00:29:45.539> to 00:29:45.710 --> 00:29:45.720 align:start position:0% data becomes much easier for anyone to 00:29:45.720 --> 00:29:48.610 align:start position:0% data becomes much easier for anyone to run<00:29:45.899> them<00:29:46.080> yay 00:29:48.610 --> 00:29:48.620 align:start position:0% run them yay 00:29:48.620 --> 00:29:51.769 align:start position:0% run them yay The<00:29:49.620> Purge<00:29:50.100> clearing<00:29:50.760> out<00:29:50.880> all<00:29:51.059> data<00:29:51.419> clearing 00:29:51.769 --> 00:29:51.779 align:start position:0% The Purge clearing out all data clearing 00:29:51.779 --> 00:29:53.870 align:start position:0% The Purge clearing out all data clearing out<00:29:51.899> technical<00:29:52.320> debt<00:29:52.740> making<00:29:53.100> ethereum<00:29:53.640> nodes 00:29:53.870 --> 00:29:53.880 align:start position:0% out technical debt making ethereum nodes 00:29:53.880 --> 00:29:55.310 align:start position:0% out technical debt making ethereum nodes easier<00:29:54.179> to<00:29:54.360> run<00:29:54.480> and<00:29:54.659> making<00:29:54.779> an<00:29:54.960> easier<00:29:55.140> end 00:29:55.310 --> 00:29:55.320 align:start position:0% easier to run and making an easier end 00:29:55.320 --> 00:29:57.710 align:start position:0% easier to run and making an easier end protocol<00:29:55.559> simpler 00:29:57.710 --> 00:29:57.720 align:start position:0% protocol simpler 00:29:57.720 --> 00:30:00.529 align:start position:0% protocol simpler and<00:29:58.260> the<00:29:58.559> Splurge<00:29:59.460> grab<00:30:00.000> bag<00:30:00.120> of<00:30:00.299> various 00:30:00.529 --> 00:30:00.539 align:start position:0% and the Splurge grab bag of various 00:30:00.539 --> 00:30:04.970 align:start position:0% and the Splurge grab bag of various useful<00:30:00.840> stuff<00:30:01.080> account<00:30:01.380> abstraction 00:30:04.970 --> 00:30:04.980 align:start position:0% 00:30:04.980 --> 00:30:07.490 align:start position:0% evm<00:30:05.460> improvements 00:30:07.490 --> 00:30:07.500 align:start position:0% evm improvements 00:30:07.500 --> 00:30:10.669 align:start position:0% evm improvements for<00:30:07.740> potion<00:30:08.100> Builder<00:30:08.460> separation 00:30:10.669 --> 00:30:10.679 align:start position:0% for potion Builder separation 00:30:10.679 --> 00:30:13.850 align:start position:0% for potion Builder separation making<00:30:11.100> everything<00:30:11.399> amazing<00:30:11.880> with<00:30:12.059> ZK<00:30:12.419> snarks 00:30:13.850 --> 00:30:13.860 align:start position:0% making everything amazing with ZK snarks 00:30:13.860 --> 00:30:15.830 align:start position:0% making everything amazing with ZK snarks yay<00:30:14.520> ethereum<00:30:15.059> is<00:30:15.179> getting<00:30:15.360> better<00:30:15.539> and<00:30:15.720> I'll 00:30:15.830 --> 00:30:15.840 align:start position:0% yay ethereum is getting better and I'll 00:30:15.840 --> 00:30:17.210 align:start position:0% yay ethereum is getting better and I'll have<00:30:16.020> to<00:30:16.140> keep<00:30:16.200> rewriting<00:30:16.740> this<00:30:16.799> presentation 00:30:17.210 --> 00:30:17.220 align:start position:0% have to keep rewriting this presentation 00:30:17.220 --> 00:30:19.370 align:start position:0% have to keep rewriting this presentation for<00:30:17.580> next<00:30:17.760> year<00:30:17.940> amazing<00:30:18.600> thank<00:30:19.080> you<00:30:19.200> guys 00:30:19.370 --> 00:30:19.380 align:start position:0% for next year amazing thank you guys 00:30:19.380 --> 00:30:20.660 align:start position:0% for next year amazing thank you guys bye-bye 00:30:20.660 --> 00:30:20.670 align:start position:0% bye-bye 00:30:20.670 --> 00:30:23.799 align:start position:0% bye-bye [Applause]