WEBVTT Kind: captions Language: en 00:00:09.190 --> 00:00:18.210 align:start position:0% [Music] 00:00:18.210 --> 00:00:18.220 align:start position:0% 00:00:18.220 --> 00:00:20.530 align:start position:0% okay<00:00:19.220> great 00:00:20.530 --> 00:00:20.540 align:start position:0% okay great 00:00:20.540 --> 00:00:23.980 align:start position:0% okay great so<00:00:20.960> I<00:00:20.990> was<00:00:21.410> originally<00:00:22.190> I'm<00:00:22.550> here<00:00:23.030> to<00:00:23.270> give<00:00:23.810> a 00:00:23.980 --> 00:00:23.990 align:start position:0% so I was originally I'm here to give a 00:00:23.990 --> 00:00:26.830 align:start position:0% so I was originally I'm here to give a talk<00:00:24.020> specifically<00:00:25.010> about<00:00:25.130> what<00:00:25.880> was<00:00:26.630> called 00:00:26.830 --> 00:00:26.840 align:start position:0% talk specifically about what was called 00:00:26.840 --> 00:00:28.750 align:start position:0% talk specifically about what was called maximally<00:00:27.500> verifying<00:00:28.040> like<00:00:28.250> clients<00:00:28.610> and 00:00:28.750 --> 00:00:28.760 align:start position:0% maximally verifying like clients and 00:00:28.760 --> 00:00:32.080 align:start position:0% maximally verifying like clients and charting<00:00:29.150> and<00:00:29.450> I<00:00:29.690> will<00:00:30.350> end<00:00:30.620> up<00:00:30.770> touching<00:00:31.160> on<00:00:31.580> a 00:00:32.080 --> 00:00:32.090 align:start position:0% charting and I will end up touching on a 00:00:32.090 --> 00:00:35.560 align:start position:0% charting and I will end up touching on a lot<00:00:32.989> of<00:00:33.020> that<00:00:33.320> in<00:00:34.310> this<00:00:34.550> talk<00:00:34.790> in<00:00:35.030> certain<00:00:35.240> ways 00:00:35.560 --> 00:00:35.570 align:start position:0% lot of that in this talk in certain ways 00:00:35.570 --> 00:00:38.260 align:start position:0% lot of that in this talk in certain ways but<00:00:35.870> I<00:00:35.900> also<00:00:36.460> wanted<00:00:37.460> to<00:00:37.520> make<00:00:37.700> it<00:00:37.880> broader<00:00:38.120> a 00:00:38.260 --> 00:00:38.270 align:start position:0% but I also wanted to make it broader a 00:00:38.270 --> 00:00:41.080 align:start position:0% but I also wanted to make it broader a bit<00:00:38.540> and<00:00:38.780> basically<00:00:39.079> make<00:00:39.620> it<00:00:39.770> be<00:00:39.950> not<00:00:40.700> just 00:00:41.080 --> 00:00:41.090 align:start position:0% bit and basically make it be not just 00:00:41.090 --> 00:00:42.640 align:start position:0% bit and basically make it be not just about<00:00:41.420> scalability<00:00:41.870> and<00:00:42.290> just<00:00:42.470> about 00:00:42.640 --> 00:00:42.650 align:start position:0% about scalability and just about 00:00:42.650 --> 00:00:44.319 align:start position:0% about scalability and just about charting<00:00:43.070> but<00:00:43.250> also<00:00:43.370> a<00:00:43.579> kind<00:00:43.760> of<00:00:43.850> general 00:00:44.319 --> 00:00:44.329 align:start position:0% charting but also a kind of general 00:00:44.329 --> 00:00:48.760 align:start position:0% charting but also a kind of general outline<00:00:44.720> at<00:00:45.020> a<00:00:45.610> proposal<00:00:46.610> for<00:00:47.180> what<00:00:47.989> I<00:00:48.020> think<00:00:48.560> a 00:00:48.760 --> 00:00:48.770 align:start position:0% outline at a proposal for what I think a 00:00:48.770 --> 00:00:51.400 align:start position:0% outline at a proposal for what I think a sensible<00:00:49.370> path<00:00:49.550> for<00:00:50.060> aetherium<00:00:50.870> protocol 00:00:51.400 --> 00:00:51.410 align:start position:0% sensible path for aetherium protocol 00:00:51.410 --> 00:00:53.200 align:start position:0% sensible path for aetherium protocol development<00:00:51.950> in<00:00:52.160> general<00:00:52.310> to<00:00:52.730> be<00:00:52.880> going 00:00:53.200 --> 00:00:53.210 align:start position:0% development in general to be going 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crippling DDoS attack on the<00:01:26.390> network<00:01:26.659> this<00:01:26.869> year<00:01:32.409> many<00:01:33.409> applications 00:01:34.179 --> 00:01:34.189 align:start position:0% the network this year many applications 00:01:34.189 --> 00:01:37.020 align:start position:0% the network this year many applications and<00:01:34.549> you<00:01:34.880> know<00:01:34.970> we've<00:01:35.119> gone<00:01:35.330> to<00:01:35.920> somewhere 00:01:37.020 --> 00:01:37.030 align:start position:0% and you know we've gone to somewhere 00:01:37.030 --> 00:01:39.460 align:start position:0% and you know we've gone to somewhere over<00:01:38.030> a<00:01:38.060> thousand<00:01:38.540> applications<00:01:38.930> at<00:01:39.320> this 00:01:39.460 --> 00:01:39.470 align:start position:0% over a thousand applications at this 00:01:39.470 --> 00:01:41.410 align:start position:0% over a thousand applications at this point<00:01:39.740> and<00:01:39.950> I'm<00:01:40.040> pretty<00:01:40.700> sure<00:01:40.820> people<00:01:41.150> aren't 00:01:41.410 --> 00:01:41.420 align:start position:0% point and I'm pretty sure people aren't 00:01:41.420 --> 00:01:44.469 align:start position:0% point and I'm pretty sure people aren't even<00:01:41.600> really<00:01:41.930> counting<00:01:42.290> anymore<00:01:42.610> and<00:01:43.610> you 00:01:44.469 --> 00:01:44.479 align:start position:0% even really counting anymore and you 00:01:44.479 --> 00:01:46.690 align:start position:0% even really counting anymore and you know<00:01:44.630> it<00:01:45.170> shows<00:01:45.439> in<00:01:45.710> all<00:01:45.799> the<00:01:45.920> charts<00:01:46.159> right<00:01:46.490> so 00:01:46.690 --> 00:01:46.700 align:start position:0% know it shows in all the charts right so 00:01:46.700 --> 00:01:48.310 align:start position:0% know it shows in all the charts right so this<00:01:46.880> is<00:01:46.939> the<00:01:47.150> etherium<00:01:47.509> transaction<00:01:48.080> chart 00:01:48.310 --> 00:01:48.320 align:start position:0% this is the etherium transaction chart 00:01:48.320 --> 00:01:51.580 align:start position:0% this is the etherium transaction chart and<00:01:48.590> we<00:01:49.070> just<00:01:49.310> recently<00:01:49.549> broke<00:01:50.030> above<00:01:50.590> 500 00:01:51.580 --> 00:01:51.590 align:start position:0% and we just recently broke above 500 00:01:51.590 --> 00:01:53.499 align:start position:0% and we just recently broke above 500 thousand<00:01:52.040> transactions<00:01:52.820> per<00:01:53.060> day<00:01:53.270> for<00:01:53.330> the 00:01:53.499 --> 00:01:53.509 align:start position:0% thousand transactions per day for the 00:01:53.509 --> 00:01:56.080 align:start position:0% thousand transactions per day for the first<00:01:53.689> time<00:01:53.990> which<00:01:54.590> in<00:01:55.280> case<00:01:55.729> you<00:01:55.850> can't 00:01:56.080 --> 00:01:56.090 align:start position:0% first time which in case you can't 00:01:56.090 --> 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at<00:02:08.119> the<00:02:08.209> peak 00:02:08.410 --> 00:02:08.420 align:start position:0% transactions per second at the peak 00:02:08.420 --> 00:02:11.500 align:start position:0% transactions per second at the peak actually<00:02:08.899> so<00:02:09.610> the<00:02:10.610> skill<00:02:10.819> the<00:02:11.120> amount<00:02:11.390> of 00:02:11.500 --> 00:02:11.510 align:start position:0% actually so the skill the amount of 00:02:11.510 --> 00:02:13.440 align:start position:0% actually so the skill the amount of activity<00:02:11.840> on<00:02:12.080> the<00:02:12.200> ethereum<00:02:12.530> blockchain<00:02:12.560> is 00:02:13.440 --> 00:02:13.450 align:start position:0% activity on the ethereum blockchain is 00:02:13.450 --> 00:02:15.280 align:start position:0% activity on the ethereum blockchain is orders<00:02:14.450> of<00:02:14.599> magnitude 00:02:15.280 --> 00:02:15.290 align:start position:0% orders of magnitude 00:02:15.290 --> 00:02:17.470 align:start position:0% orders of magnitude higher<00:02:15.650> than<00:02:16.010> it<00:02:16.099> was<00:02:16.340> like<00:02:16.730> one<00:02:16.939> or<00:02:17.060> two<00:02:17.209> years 00:02:17.470 --> 00:02:17.480 align:start position:0% higher than it was like one or two years 00:02:17.480 --> 00:02:20.860 align:start position:0% higher than it was like one or two years ago<00:02:17.540> and<00:02:18.379> this<00:02:18.769> includes<00:02:19.400> not<00:02:20.209> just<00:02:20.269> ether 00:02:20.860 --> 00:02:20.870 align:start position:0% ago and this includes not just ether 00:02:20.870 --> 00:02:23.110 align:start position:0% ago and this includes not just ether transfers<00:02:21.379> it<00:02:21.590> includes<00:02:21.920> ers<00:02:22.310> each<00:02:22.459> one<00:02:22.670> is<00:02:22.819> it 00:02:23.110 --> 00:02:23.120 align:start position:0% transfers it includes ers each one is it 00:02:23.120 --> 00:02:26.050 align:start position:0% transfers it includes ers each one is it includes<00:02:23.540> ether<00:02:24.019> Delta<00:02:24.439> it<00:02:24.680> includes<00:02:25.250> various 00:02:26.050 --> 00:02:26.060 align:start position:0% includes ether Delta it includes various 00:02:26.060 --> 00:02:27.640 align:start position:0% includes ether Delta it includes various Tiff's<00:02:26.329> for<00:02:26.510> different<00:02:26.870> depths<00:02:27.319> you<00:02:27.439> know<00:02:27.530> it 00:02:27.640 --> 00:02:27.650 align:start position:0% Tiff's for different depths you know it 00:02:27.650 --> 00:02:30.250 align:start position:0% Tiff's for different depths you know it just<00:02:27.769> it<00:02:28.370> includes<00:02:28.909> a<00:02:29.329> whole<00:02:29.659> bunch<00:02:30.140> of 00:02:30.250 --> 00:02:30.260 align:start position:0% just it includes a whole bunch of 00:02:30.260 --> 00:02:32.410 align:start position:0% just it includes a whole bunch of different<00:02:31.069> smart<00:02:31.489> contracts<00:02:32.000> of<00:02:32.120> various 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thousand 00:02:39.890 --> 00:02:43.179 align:start position:0% network with more than twenty thousand nodes<00:02:40.040> worldwide<00:02:40.609> with<00:02:41.420> hubs<00:02:42.139> existing<00:02:42.920> all 00:02:43.179 --> 00:02:43.189 align:start position:0% nodes worldwide with hubs existing all 00:02:43.189 --> 00:02:45.789 align:start position:0% nodes worldwide with hubs existing all over<00:02:43.790> North<00:02:44.060> America<00:02:44.150> including<00:02:44.840> East<00:02:45.500> Coast 00:02:45.789 --> 00:02:45.799 align:start position:0% over North America including East Coast 00:02:45.799 --> 00:02:49.210 align:start position:0% over North America including East Coast and<00:02:45.950> West<00:02:46.099> Coast<00:02:46.930> hubs<00:02:47.930> all<00:02:48.290> over<00:02:48.590> Europe<00:02:48.980> a 00:02:49.210 --> 00:02:49.220 align:start position:0% and West Coast hubs all over Europe a 00:02:49.220 --> 00:02:52.449 align:start position:0% and West Coast hubs all over Europe a bunch<00:02:49.670> in<00:02:49.849> Russia<00:02:50.090> a<00:02:50.930> smaller<00:02:51.560> but<00:02:51.859> still<00:02:51.980> very 00:02:52.449 --> 00:02:52.459 align:start position:0% bunch in Russia a smaller but still very 00:02:52.459 --> 00:02:54.610 align:start position:0% bunch in Russia a smaller but still very significant<00:02:53.090> and<00:02:53.239> growing<00:02:53.620> amounts 00:02:54.610 --> 00:02:54.620 align:start position:0% significant and growing amounts 00:02:54.620 --> 00:02:56.770 align:start position:0% significant and growing amounts scattered<00:02:55.549> across<00:02:55.639> the<00:02:55.849> various<00:02:56.329> hubs<00:02:56.629> in 00:02:56.770 --> 00:02:56.780 align:start position:0% scattered across the various hubs in 00:02:56.780 --> 00:02:59.949 align:start position:0% scattered across the various hubs in Asia<00:02:56.930> and<00:02:57.560> you<00:02:58.069> know<00:02:58.159> increasingly<00:02:59.030> kind<00:02:59.870> of 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position:0% well according to the data that got 00:03:08.569 --> 00:03:10.599 align:start position:0% well according to the data that got scraped<00:03:09.049> from<00:03:09.349> either<00:03:09.829> this<00:03:10.159> side<00:03:10.220> or<00:03:10.430> another 00:03:10.599 --> 00:03:10.609 align:start position:0% scraped from either this side or another 00:03:10.609 --> 00:03:12.099 align:start position:0% scraped from either this side or another side<00:03:10.970> a<00:03:11.000> couple<00:03:11.150> of<00:03:11.329> days<00:03:11.450> ago<00:03:11.629> we<00:03:11.840> seem<00:03:12.079> to 00:03:12.099 --> 00:03:12.109 align:start position:0% side a couple of days ago we seem to 00:03:12.109 --> 00:03:14.559 align:start position:0% side a couple of days ago we seem to have<00:03:12.349> one<00:03:12.620> node<00:03:12.799> in<00:03:12.980> North<00:03:13.129> Korea<00:03:13.459> but<00:03:14.329> not 00:03:14.559 --> 00:03:14.569 align:start position:0% have one node in North Korea but not 00:03:14.569 --> 00:03:17.699 align:start position:0% have one node in North Korea but not sure<00:03:14.780> if<00:03:14.900> that's<00:03:14.989> actually<00:03:15.260> in<00:03:15.560> North<00:03:15.739> Korea 00:03:17.699 --> 00:03:17.709 align:start position:0% sure if that's actually in North Korea 00:03:17.709 --> 00:03:22.990 align:start position:0% sure if that's actually in North Korea yeah<00:03:18.739> so<00:03:19.930> in<00:03:20.930> general<00:03:21.139> north<00:03:21.739> of<00:03:21.949> a<00:03:22.579> lot<00:03:22.970> of 00:03:22.990 --> 00:03:23.000 align:start position:0% yeah so in general north of a lot of 00:03:23.000 --> 00:03:25.300 align:start position:0% yeah so in general north of a lot of progress<00:03:23.239> right<00:03:23.840> and<00:03:24.260> if<00:03:24.560> you<00:03:24.859> look<00:03:24.979> at<00:03:25.099> just 00:03:25.300 --> 00:03:25.310 align:start position:0% progress right and if you look at just 00:03:25.310 --> 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you can now take advantage of<00:03:34.150> cryptographic<00:03:35.590> primitives<00:03:36.590> that<00:03:36.739> are 00:03:36.909 --> 00:03:36.919 align:start position:0% of cryptographic primitives that are 00:03:36.919 --> 00:03:39.309 align:start position:0% of cryptographic primitives that are available<00:03:37.159> in<00:03:37.669> accelerated<00:03:38.359> form<00:03:38.659> on<00:03:38.900> top<00:03:39.139> of 00:03:39.309 --> 00:03:39.319 align:start position:0% available in accelerated form on top of 00:03:39.319 --> 00:03:41.080 align:start position:0% available in accelerated form on top of the<00:03:39.409> etherium<00:03:39.769> blockchain<00:03:40.250> in<00:03:40.459> order<00:03:41.030> to 00:03:41.080 --> 00:03:41.090 align:start position:0% the etherium blockchain in order to 00:03:41.090 --> 00:03:42.849 align:start position:0% the etherium blockchain in order to build<00:03:41.299> privacy-preserving<00:03:41.859> applications 00:03:42.849 --> 00:03:42.859 align:start position:0% build privacy-preserving applications 00:03:42.859 --> 00:03:45.339 align:start position:0% build privacy-preserving applications and<00:03:43.129> people<00:03:43.849> already<00:03:44.150> are<00:03:44.419> so<00:03:44.959> you<00:03:45.019> know<00:03:45.229> you 00:03:45.339 --> 00:03:45.349 align:start position:0% and people already are so you know you 00:03:45.349 --> 00:03:46.809 align:start position:0% and people already are so you know you just<00:03:45.590> saw<00:03:45.769> socrates<00:03:46.370> in<00:03:46.549> the<00:03:46.609> last 00:03:46.809 --> 00:03:46.819 align:start position:0% just saw socrates in the last 00:03:46.819 --> 00:03:49.270 align:start position:0% just saw socrates in the last presentation<00:03:47.299> just<00:03:47.720> yesterday<00:03:48.620> I<00:03:48.739> saw<00:03:49.129> and 00:03:49.270 --> 00:03:49.280 align:start position:0% presentation just yesterday I saw and 00:03:49.280 --> 00:03:51.879 align:start position:0% presentation just yesterday I saw and reddit<00:03:49.579> someone<00:03:49.909> announced<00:03:50.359> a<00:03:50.829> protocol<00:03:51.829> that 00:03:51.879 --> 00:03:51.889 align:start position:0% reddit someone announced a protocol that 00:03:51.889 --> 00:03:54.520 align:start position:0% reddit someone announced a protocol that was<00:03:52.159> doing<00:03:52.549> a<00:03:52.669> reputation<00:03:53.389> market<00:03:53.840> based<00:03:54.319> on 00:03:54.520 --> 00:03:54.530 align:start position:0% was doing a reputation market based on 00:03:54.530 --> 00:03:58.030 align:start position:0% was doing a reputation market based on narcs<00:03:55.340> you<00:03:55.609> know<00:03:55.699> if<00:03:55.790> there's<00:03:56.000> I<00:03:56.599> know<00:03:57.139> if<00:03:57.409> one 00:03:58.030 --> 00:03:58.040 align:start position:0% narcs you know if there's I know if one 00:03:58.040 --> 00:04:01.210 align:start position:0% narcs you know if there's I know if one project<00:03:58.280> that's<00:03:59.090> trying<00:03:59.510> to<00:04:00.290> do<00:04:00.500> things<00:04:00.799> well 00:04:01.210 --> 00:04:01.220 align:start position:0% project that's trying to do things well 00:04:01.220 --> 00:04:03.429 align:start position:0% project that's trying to do things well with<00:04:01.819> ring<00:04:02.060> signatures<00:04:02.569> actually<00:04:02.989> multiple 00:04:03.429 --> 00:04:03.439 align:start position:0% with ring signatures actually multiple 00:04:03.439 --> 00:04:06.219 align:start position:0% with ring signatures actually multiple projects<00:04:04.040> so<00:04:04.609> I<00:04:04.939> also<00:04:05.479> know<00:04:05.750> at<00:04:05.959> least<00:04:06.079> a 00:04:06.219 --> 00:04:06.229 align:start position:0% projects so I also know at least a 00:04:06.229 --> 00:04:07.539 align:start position:0% projects so I also know at least a couple<00:04:06.260> of<00:04:06.590> projects<00:04:07.010> that<00:04:07.099> are<00:04:07.189> taking 00:04:07.539 --> 00:04:07.549 align:start position:0% couple of projects that are taking 00:04:07.549 --> 00:04:09.969 align:start position:0% couple of projects that are taking advantage<00:04:07.639> of<00:04:08.000> RSA<00:04:08.449> verification<00:04:09.260> to<00:04:09.799> do 00:04:09.969 --> 00:04:09.979 align:start position:0% advantage of RSA verification to do 00:04:09.979 --> 00:04:11.679 align:start position:0% advantage of RSA verification to do things<00:04:10.250> like<00:04:10.459> better<00:04:10.669> communicate<00:04:11.299> between 00:04:11.679 --> 00:04:11.689 align:start position:0% things like better communicate between 00:04:11.689 --> 00:04:15.729 align:start position:0% things like better communicate between etherium<00:04:12.319> and<00:04:12.590> existing<00:04:13.519> DNS<00:04:14.439> between<00:04:15.439> you 00:04:15.729 --> 00:04:15.739 align:start position:0% etherium and existing DNS between you 00:04:15.739 --> 00:04:17.050 align:start position:0% etherium and existing DNS between you know<00:04:15.829> I<00:04:15.859> guess<00:04:16.039> don't<00:04:16.159> need<00:04:16.370> any<00:04:16.459> residency 00:04:17.050 --> 00:04:17.060 align:start position:0% know I guess don't need any residency 00:04:17.060 --> 00:04:19.839 align:start position:0% know I guess don't need any residency and<00:04:17.209> just<00:04:17.389> various<00:04:17.750> other<00:04:17.930> things<00:04:18.199> so<00:04:18.849> the 00:04:19.839 --> 00:04:19.849 align:start position:0% and just various other things so the 00:04:19.849 --> 00:04:23.260 align:start position:0% and just various other things so the privacy<00:04:20.359> part<00:04:20.870> of<00:04:21.190> the<00:04:22.190> three<00:04:22.550> kind<00:04:22.970> of<00:04:23.030> major 00:04:23.260 --> 00:04:23.270 align:start position:0% privacy part of the three kind of major 00:04:23.270 --> 00:04:25.240 align:start position:0% privacy part of the three kind of major challenges<00:04:23.960> to<00:04:24.020> aetherium<00:04:24.529> success<00:04:25.070> that 00:04:25.240 --> 00:04:25.250 align:start position:0% challenges to aetherium success that 00:04:25.250 --> 00:04:26.680 align:start position:0% challenges to aetherium success that I've<00:04:25.340> outlined<00:04:25.520> privacy<00:04:26.240> security<00:04:26.389> and 00:04:26.680 --> 00:04:26.690 align:start position:0% I've outlined privacy security and 00:04:26.690 --> 00:04:28.779 align:start position:0% I've outlined privacy security and scalability<00:04:26.960> is<00:04:27.860> actually<00:04:28.370> quite<00:04:28.580> well<00:04:28.729> on 00:04:28.779 --> 00:04:28.789 align:start position:0% scalability is actually quite well on 00:04:28.789 --> 00:04:29.050 align:start position:0% scalability is actually quite well on the 00:04:29.050 --> 00:04:29.060 align:start position:0% the 00:04:29.060 --> 00:04:30.490 align:start position:0% the way<00:04:29.150> to<00:04:29.210> being<00:04:29.450> solved<00:04:29.780> you<00:04:30.169> know<00:04:30.230> there<00:04:30.350> is 00:04:30.490 --> 00:04:30.500 align:start position:0% way to being solved you know there is 00:04:30.500 --> 00:04:32.470 align:start position:0% way to being solved you know there is still<00:04:30.650> a<00:04:30.770> lot<00:04:31.010> of<00:04:31.040> work<00:04:31.310> to<00:04:31.490> be<00:04:31.580> done<00:04:31.610> someone 00:04:32.470 --> 00:04:32.480 align:start position:0% still a lot of work to be done someone 00:04:32.480 --> 00:04:33.820 align:start position:0% still a lot of work to be done someone actually<00:04:32.630> has<00:04:32.960> to<00:04:33.139> build<00:04:33.290> the<00:04:33.410> ring<00:04:33.530> Singh<00:04:33.710> is 00:04:33.820 --> 00:04:33.830 align:start position:0% actually has to build the ring Singh is 00:04:33.830 --> 00:04:35.110 align:start position:0% actually has to build the ring Singh is your<00:04:33.980> stuff<00:04:34.190> someone<00:04:34.490> actually<00:04:34.639> has<00:04:34.880> to<00:04:35.030> build 00:04:35.110 --> 00:04:35.120 align:start position:0% your stuff someone actually has to build 00:04:35.120 --> 00:04:36.970 align:start position:0% your stuff someone actually has to build Socrates<00:04:35.690> people<00:04:36.020> actually<00:04:36.169> have<00:04:36.470> to<00:04:36.590> use<00:04:36.800> it 00:04:36.970 --> 00:04:36.980 align:start position:0% Socrates people actually have to use it 00:04:36.980 --> 00:04:38.920 align:start position:0% Socrates people actually have to use it people<00:04:37.610> have<00:04:37.700> to<00:04:37.760> actually<00:04:37.970> make<00:04:38.270> using<00:04:38.750> your 00:04:38.920 --> 00:04:38.930 align:start position:0% people have to actually make using your 00:04:38.930 --> 00:04:40.690 align:start position:0% people have to actually make using your knowledge<00:04:39.110> proves<00:04:39.440> practical<00:04:40.010> but<00:04:40.520> we've 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number one right so in this is a quick 00:04:49.220 --> 00:04:52.120 align:start position:0% number one right so in this is a quick excerpt<00:04:49.669> from<00:04:50.000> the<00:04:50.210> sharding<00:04:50.600> faq<00:04:51.230> we<00:04:51.980> are<00:04:52.100> I 00:04:52.120 --> 00:04:52.130 align:start position:0% excerpt from the sharding faq we are I 00:04:52.130 --> 00:04:54.070 align:start position:0% excerpt from the sharding faq we are I talked<00:04:52.460> about<00:04:52.520> this<00:04:52.940> challenge<00:04:53.540> called<00:04:53.870> the 00:04:54.070 --> 00:04:54.080 align:start position:0% talked about this challenge called the 00:04:54.080 --> 00:04:55.629 align:start position:0% talked about this challenge called the the<00:04:54.440> scalability<00:04:55.040> trilemma 00:04:55.629 --> 00:04:55.639 align:start position:0% the scalability trilemma 00:04:55.639 --> 00:04:58.750 align:start position:0% the scalability trilemma and<00:04:56.000> I<00:04:56.270> basically<00:04:56.480> state<00:04:56.990> that<00:04:57.160> it<00:04:58.160> seems 00:04:58.750 --> 00:04:58.760 align:start position:0% and I basically state that it seems 00:04:58.760 --> 00:05:01.060 align:start position:0% and I basically state that it seems likely<00:04:59.330> that<00:04:59.540> blockchain<00:05:00.230> systems<00:05:00.650> can<00:05:00.860> only 00:05:01.060 --> 00:05:01.070 align:start position:0% likely that blockchain systems can only 00:05:01.070 --> 00:05:03.159 align:start position:0% likely that blockchain systems can only have<00:05:01.460> at<00:05:01.790> most<00:05:02.360> two<00:05:02.660> of<00:05:02.810> these<00:05:02.930> three 00:05:03.159 --> 00:05:03.169 align:start position:0% have at most two of these three 00:05:03.169 --> 00:05:05.350 align:start position:0% have at most two of these three properties<00:05:03.500> at<00:05:03.710> the<00:05:03.770> same<00:05:03.979> time<00:05:04.250> number<00:05:05.180> one 00:05:05.350 --> 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being<00:05:14.540> able<00:05:14.630> to<00:05:14.780> process<00:05:15.020> many<00:05:15.500> more 00:05:15.700 --> 00:05:15.710 align:start position:0% being able to process many more 00:05:15.710 --> 00:05:17.800 align:start position:0% being able to process many more transactions<00:05:16.310> than<00:05:16.400> a<00:05:16.490> regular<00:05:16.850> laptop<00:05:17.030> and 00:05:17.800 --> 00:05:17.810 align:start position:0% transactions than a regular laptop and 00:05:17.810 --> 00:05:20.680 align:start position:0% transactions than a regular laptop and security<00:05:18.500> is<00:05:18.590> so<00:05:18.740> basically<00:05:19.130> you<00:05:19.820> know<00:05:19.940> it's 00:05:20.680 --> 00:05:20.690 align:start position:0% security is so basically you know it's 00:05:20.690 --> 00:05:23.020 align:start position:0% security is so basically you know it's okay<00:05:21.020> to<00:05:21.050> be<00:05:21.260> vulnerable<00:05:21.290> to<00:05:21.830> 51%<00:05:22.280> attacks<00:05:22.850> but 00:05:23.020 --> 00:05:23.030 align:start position:0% okay to be vulnerable to 51% attacks but 00:05:23.030 --> 00:05:25.120 align:start position:0% okay to be vulnerable to 51% attacks but you<00:05:23.150> definitely<00:05:23.389> cannot<00:05:24.050> be<00:05:24.260> vulnerable<00:05:24.470> to 00:05:25.120 --> 00:05:25.130 align:start position:0% you definitely cannot be vulnerable to 00:05:25.130 --> 00:05:28.420 align:start position:0% you definitely cannot be vulnerable to 0.51<00:05:25.940> percent<00:05:26.090> attacks<00:05:26.830> there<00:05:27.830> is<00:05:27.950> a<00:05:27.979> very 00:05:28.420 --> 00:05:28.430 align:start position:0% 0.51 percent attacks there is a very 00:05:28.430 --> 00:05:30.610 align:start position:0% 0.51 percent attacks there is a very very<00:05:28.760> big<00:05:29.240> and<00:05:29.450> growing<00:05:29.780> graveyard<00:05:30.500> of 00:05:30.610 --> 00:05:30.620 align:start position:0% very big and growing graveyard of 00:05:30.620 --> 00:05:32.500 align:start position:0% very big and growing graveyard of systems<00:05:31.040> that<00:05:31.550> claim<00:05:31.940> to<00:05:31.970> solve<00:05:32.389> the 00:05:32.500 --> 00:05:32.510 align:start position:0% systems that claim to solve the 00:05:32.510 --> 00:05:34.210 align:start position:0% systems that claim to solve the scalability<00:05:33.080> triangle<00:05:33.560> but<00:05:33.680> actually<00:05:34.070> keep 00:05:34.210 --> 00:05:34.220 align:start position:0% scalability triangle but actually keep 00:05:34.220 --> 00:05:37.029 align:start position:0% scalability triangle but actually keep really<00:05:34.490> don't<00:05:34.780> so<00:05:35.780> you<00:05:36.500> know<00:05:36.560> like<00:05:36.650> I<00:05:36.830> actually 00:05:37.029 --> 00:05:37.039 align:start position:0% really don't so you know like I actually 00:05:37.039 --> 00:05:38.800 align:start position:0% really don't so you know like I actually think<00:05:37.400> the<00:05:37.640> scalability<00:05:38.210> triangle<00:05:38.660> is 00:05:38.800 --> 00:05:38.810 align:start position:0% think the scalability triangle is 00:05:38.810 --> 00:05:40.680 align:start position:0% think the scalability triangle is solvable<00:05:39.380> but<00:05:39.620> it<00:05:39.740> basically<00:05:40.070> requires 00:05:40.680 --> 00:05:40.690 align:start position:0% solvable but it basically requires 00:05:40.690 --> 00:05:42.700 align:start position:0% solvable but it basically requires significantly<00:05:41.690> more<00:05:41.960> kind<00:05:42.260> of<00:05:42.320> complex 00:05:42.700 --> 00:05:42.710 align:start position:0% significantly more kind of complex 00:05:42.710 --> 00:05:45.130 align:start position:0% significantly more kind of complex technology<00:05:43.400> is<00:05:43.520> then<00:05:43.789> you<00:05:44.300> know<00:05:44.419> the<00:05:44.780> kinds<00:05:45.050> of 00:05:45.130 --> 00:05:45.140 align:start position:0% technology is then you know the kinds of 00:05:45.140 --> 00:05:47.230 align:start position:0% technology is then you know the kinds of technologies<00:05:45.620> that<00:05:45.650> we<00:05:45.800> have<00:05:45.860> available<00:05:46.240> part 00:05:47.230 --> 00:05:47.240 align:start position:0% technologies that we have available part 00:05:47.240 --> 00:05:48.550 align:start position:0% technologies that we have available part of<00:05:47.390> this<00:05:47.510> is<00:05:47.780> something<00:05:48.140> called<00:05:48.260> the<00:05:48.380> Tierra 00:05:48.550 --> 00:05:48.560 align:start position:0% of this is something called the Tierra 00:05:48.560 --> 00:05:50.800 align:start position:0% of this is something called the Tierra availability<00:05:49.190> problem<00:05:49.610> which<00:05:49.820> it's<00:05:50.479> I'm<00:05:50.780> not 00:05:50.800 --> 00:05:50.810 align:start position:0% availability problem which it's I'm not 00:05:50.810 --> 00:05:52.450 align:start position:0% availability problem which it's I'm not going<00:05:51.080> to<00:05:51.140> talk<00:05:51.260> about<00:05:51.470> today<00:05:51.830> because<00:05:51.979> it<00:05:52.400> oh 00:05:52.450 --> 00:05:52.460 align:start position:0% going to talk about today because it oh 00:05:52.460 --> 00:05:53.680 align:start position:0% going to talk about today because it oh really<00:05:52.669> does<00:05:52.940> require<00:05:53.120> a<00:05:53.330> one-hour 00:05:53.680 --> 00:05:53.690 align:start position:0% really does require a one-hour 00:05:53.690 --> 00:05:55.990 align:start position:0% really does require a one-hour presentation<00:05:53.930> to<00:05:54.530> go<00:05:54.650> through<00:05:54.919> but<00:05:55.490> basically 00:05:55.990 --> 00:05:56.000 align:start position:0% presentation to go through but basically 00:05:56.000 --> 00:05:58.840 align:start position:0% presentation to go through but basically you<00:05:56.210> know<00:05:56.300> it<00:05:56.390> gets<00:05:56.479> this<00:05:56.720> problem<00:05:57.560> that<00:05:57.800> a<00:05:58.160> lot 00:05:58.840 --> 00:05:58.850 align:start position:0% you know it gets this problem that a lot 00:05:58.850 --> 00:06:00.340 align:start position:0% you know it gets this problem that a lot of<00:05:59.030> people<00:05:59.330> don't<00:05:59.419> even<00:05:59.570> think<00:05:59.720> about<00:05:59.990> but 00:06:00.340 --> 00:06:00.350 align:start position:0% of people don't even think about but 00:06:00.350 --> 00:06:02.230 align:start position:0% of people don't even think about but basically<00:06:00.500> not<00:06:01.310> only<00:06:01.370> you<00:06:01.760> need<00:06:01.880> to<00:06:01.940> verify 00:06:02.230 --> 00:06:02.240 align:start position:0% basically not only you need to verify 00:06:02.240 --> 00:06:04.270 align:start position:0% basically not only you need to verify that<00:06:02.510> the<00:06:02.780> blockchain<00:06:03.050> is<00:06:03.200> valid<00:06:03.710> you<00:06:04.100> also 00:06:04.270 --> 00:06:04.280 align:start position:0% that the blockchain is valid you also 00:06:04.280 --> 00:06:06.010 align:start position:0% that the blockchain is valid you also need<00:06:04.639> to<00:06:04.669> verify<00:06:05.000> that<00:06:05.180> everyone<00:06:05.720> can<00:06:05.900> access 00:06:06.010 --> 00:06:06.020 align:start position:0% need to verify that everyone can access 00:06:06.020 --> 00:06:06.790 align:start position:0% need to verify that everyone can access the<00:06:06.350> blockchain 00:06:06.790 --> 00:06:06.800 align:start position:0% the blockchain 00:06:06.800 --> 00:06:09.040 align:start position:0% the blockchain and<00:06:06.979> even<00:06:07.550> Zika<00:06:07.850> snarks<00:06:08.240> and<00:06:08.360> Starks<00:06:08.720> cannot 00:06:09.040 --> 00:06:09.050 align:start position:0% and even Zika snarks and Starks cannot 00:06:09.050 --> 00:06:10.390 align:start position:0% and even Zika snarks and Starks cannot solve<00:06:09.260> that<00:06:09.500> part<00:06:09.740> of<00:06:09.800> the<00:06:09.889> puzzle<00:06:10.070> and 00:06:10.390 --> 00:06:10.400 align:start position:0% solve that part of the puzzle and 00:06:10.400 --> 00:06:12.279 align:start position:0% solve that part of the puzzle and there's<00:06:10.970> mathematical<00:06:11.630> proofs<00:06:11.900> based<00:06:12.139> on 00:06:12.279 --> 00:06:12.289 align:start position:0% there's mathematical proofs based on 00:06:12.289 --> 00:06:14.650 align:start position:0% there's mathematical proofs based on information<00:06:12.830> theory<00:06:13.039> that<00:06:13.370> say<00:06:13.639> that<00:06:14.270> if<00:06:14.450> you 00:06:14.650 --> 00:06:14.660 align:start position:0% information theory that say that if you 00:06:14.660 --> 00:06:16.000 align:start position:0% information theory that say that if you cannot<00:06:14.930> solve<00:06:15.169> that<00:06:15.410> part<00:06:15.590> of<00:06:15.680> the<00:06:15.740> possible 00:06:16.000 --> 00:06:16.010 align:start position:0% cannot solve that part of the possible 00:06:16.010 --> 00:06:17.800 align:start position:0% cannot solve that part of the possible your<00:06:16.190> protocol<00:06:16.610> is<00:06:16.880> basically<00:06:17.210> you<00:06:17.539> know<00:06:17.600> is 00:06:17.800 --> 00:06:17.810 align:start position:0% your protocol is basically you know is 00:06:17.810 --> 00:06:20.740 align:start position:0% your protocol is basically you know is basically<00:06:18.740> cannot<00:06:18.979> be<00:06:19.130> secured<00:06:19.460> the<00:06:20.360> relevant 00:06:20.740 --> 00:06:20.750 align:start position:0% basically cannot be secured the relevant 00:06:20.750 --> 00:06:23.290 align:start position:0% basically cannot be secured the relevant paper<00:06:20.960> here<00:06:21.380> is<00:06:21.590> one<00:06:22.250> basically<00:06:22.970> one<00:06:23.150> that 00:06:23.290 --> 00:06:23.300 align:start position:0% paper here is one basically one that 00:06:23.300 --> 00:06:24.460 align:start position:0% paper here is one basically one that says<00:06:23.479> that<00:06:23.630> batch<00:06:23.810> updates<00:06:24.260> for 00:06:24.460 --> 00:06:24.470 align:start position:0% says that batch updates for 00:06:24.470 --> 00:06:25.629 align:start position:0% says that batch updates for cryptographic<00:06:24.710> accumulators<00:06:25.520> are 00:06:25.629 --> 00:06:25.639 align:start position:0% cryptographic accumulators are 00:06:25.639 --> 00:06:28.330 align:start position:0% cryptographic accumulators are impossible<00:06:26.150> and<00:06:26.600> so<00:06:26.780> I'm<00:06:26.990> had<00:06:27.620> to<00:06:27.800> adjust<00:06:28.130> and 00:06:28.330 --> 00:06:28.340 align:start position:0% impossible and so I'm had to adjust and 00:06:28.340 --> 00:06:30.310 align:start position:0% impossible and so I'm had to adjust and rake<00:06:28.520> for<00:06:28.729> that<00:06:28.850> one<00:06:29.030> so<00:06:29.510> it's<00:06:29.690> it<00:06:29.960> is<00:06:30.050> a<00:06:30.080> very 00:06:30.310 --> 00:06:30.320 align:start position:0% rake for that one so it's it is a very 00:06:30.320 --> 00:06:32.610 align:start position:0% rake for that one so it's it is a very significant<00:06:30.860> and<00:06:30.889> hard<00:06:31.130> challenge<00:06:31.520> so 00:06:32.610 --> 00:06:32.620 align:start position:0% significant and hard challenge so 00:06:32.620 --> 00:06:35.230 align:start position:0% significant and hard challenge so basically<00:06:33.620> right<00:06:33.860> now<00:06:33.919> every<00:06:34.520> node<00:06:34.669> processes 00:06:35.230 --> 00:06:35.240 align:start position:0% basically right now every node processes 00:06:35.240 --> 00:06:37.210 align:start position:0% basically right now every node processes every<00:06:35.450> transaction<00:06:35.840> the<00:06:36.590> capacity<00:06:37.099> of<00:06:37.130> a 00:06:37.210 --> 00:06:37.220 align:start position:0% every transaction the capacity of a 00:06:37.220 --> 00:06:38.800 align:start position:0% every transaction the capacity of a blockchain<00:06:37.460> is<00:06:37.669> limited<00:06:38.120> to<00:06:38.210> the<00:06:38.300> capacity<00:06:38.780> of 00:06:38.800 --> 00:06:38.810 align:start position:0% blockchain is limited to the capacity of 00:06:38.810 --> 00:06:40.870 align:start position:0% blockchain is limited to the capacity of one<00:06:39.050> node<00:06:39.289> and<00:06:39.560> it's<00:06:39.950> actually<00:06:40.340> even<00:06:40.520> worse 00:06:40.870 --> 00:06:40.880 align:start position:0% one node and it's actually even worse 00:06:40.880 --> 00:06:43.420 align:start position:0% one node and it's actually even worse because<00:06:41.210> we<00:06:42.050> need<00:06:42.229> to<00:06:42.320> have<00:06:42.409> safety<00:06:42.680> d'argent 00:06:43.420 --> 00:06:43.430 align:start position:0% because we need to have safety d'argent 00:06:43.430 --> 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vulnerability<00:06:52.670> is<00:06:53.060> likely<00:06:53.600> to<00:06:53.840> be<00:06:53.930> disk 00:06:54.160 --> 00:06:54.170 align:start position:0% DDoS vulnerability is likely to be disk 00:06:54.170 --> 00:06:57.700 align:start position:0% DDoS vulnerability is likely to be disk reads<00:06:54.440> and<00:06:54.770> also<00:06:55.610> aetherium<00:06:56.180> vm<00:06:56.960> execution<00:06:57.590> is 00:06:57.700 --> 00:06:57.710 align:start position:0% reads and also aetherium vm execution is 00:06:57.710 --> 00:06:59.230 align:start position:0% reads and also aetherium vm execution is currently<00:06:58.040> absolutely<00:06:58.610> not<00:06:58.760> parallelizable 00:06:59.230 --> 00:06:59.240 align:start position:0% currently absolutely not parallelizable 00:06:59.240 --> 00:07:01.900 align:start position:0% currently absolutely not parallelizable so<00:06:59.990> you<00:07:00.050> know<00:07:00.290> these<00:07:00.440> are<00:07:00.500> just<00:07:00.800> known<00:07:01.370> facts 00:07:01.900 --> 00:07:01.910 align:start position:0% so you know these are just known facts 00:07:01.910 --> 00:07:03.310 align:start position:0% so you know these are just known facts and<00:07:02.120> the<00:07:02.240> you<00:07:02.450> know<00:07:02.570> severely<00:07:02.930> limit<00:07:03.290> the 00:07:03.310 --> 00:07:03.320 align:start position:0% and the you know severely limit the 00:07:03.320 --> 00:07:04.900 align:start position:0% and the you know severely limit the extent<00:07:03.680> to<00:07:03.740> which<00:07:03.830> a<00:07:04.010> theorem<00:07:04.340> in<00:07:04.430> its<00:07:04.580> present 00:07:04.900 --> 00:07:04.910 align:start position:0% extent to which a theorem in its present 00:07:04.910 --> 00:07:08.260 align:start position:0% extent to which a theorem in its present form<00:07:04.940> can<00:07:05.270> scale<00:07:05.510> so<00:07:06.440> the<00:07:07.160> likely<00:07:07.550> solution<00:07:08.090> to 00:07:08.260 --> 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example you can use some VIP 6:48 to 00:07:15.470 --> 00:07:17.920 align:start position:0% for example you can use some VIP 6:48 to greatly<00:07:15.740> improve<00:07:15.950> paralyze<00:07:16.580> ability<00:07:17.060> but<00:07:17.750> if 00:07:17.920 --> 00:07:17.930 align:start position:0% greatly improve paralyze ability but if 00:07:17.930 --> 00:07:19.540 align:start position:0% greatly improve paralyze ability but if you<00:07:18.050> want<00:07:18.260> to<00:07:18.350> really<00:07:18.530> solve<00:07:18.890> the<00:07:18.980> fundamental 00:07:19.540 --> 00:07:19.550 align:start position:0% you want to really solve the fundamental 00:07:19.550 --> 00:07:21.220 align:start position:0% you want to really solve the fundamental problem<00:07:19.910> every<00:07:20.240> node<00:07:20.420> processes<00:07:20.930> every 00:07:21.220 --> 00:07:21.230 align:start position:0% problem every node processes every 00:07:21.230 --> 00:07:23.980 align:start position:0% problem every node processes every transaction<00:07:21.640> basically<00:07:22.640> sharding<00:07:23.030> and<00:07:23.180> it's 00:07:23.980 --> 00:07:23.990 align:start position:0% transaction basically sharding and it's 00:07:23.990 --> 00:07:25.540 align:start position:0% transaction basically sharding and it's the<00:07:24.080> way<00:07:24.230> that<00:07:24.440> you<00:07:24.500> think<00:07:24.650> about<00:07:24.830> sharding<00:07:25.340> is 00:07:25.540 --> 00:07:25.550 align:start position:0% the way that you think about sharding is 00:07:25.550 --> 00:07:27.880 align:start position:0% the way that you think about sharding is well<00:07:25.940> basically<00:07:26.630> you<00:07:27.020> can<00:07:27.140> split<00:07:27.710> the 00:07:27.880 --> 00:07:27.890 align:start position:0% well basically you can split the 00:07:27.890 --> 00:07:30.340 align:start position:0% well basically you can split the blockchain<00:07:28.160> state<00:07:28.760> so<00:07:29.450> split<00:07:29.840> the<00:07:30.050> set<00:07:30.230> of 00:07:30.340 --> 00:07:30.350 align:start position:0% blockchain state so split the set of 00:07:30.350 --> 00:07:32.080 align:start position:0% blockchain state so split the set of information<00:07:30.650> that<00:07:31.250> everyone<00:07:31.610> needs<00:07:31.730> to<00:07:31.910> keep 00:07:32.080 --> 00:07:32.090 align:start position:0% information that everyone needs to keep 00:07:32.090 --> 00:07:35.050 align:start position:0% information that everyone needs to keep track<00:07:32.150> of<00:07:32.450> into<00:07:33.020> and<00:07:33.290> universes<00:07:34.040> and<00:07:34.220> we<00:07:34.850> call 00:07:35.050 --> 00:07:35.060 align:start position:0% track of into and universes and we call 00:07:35.060 --> 00:07:36.400 align:start position:0% track of into and universes and we call each<00:07:35.210> one<00:07:35.390> of<00:07:35.480> these<00:07:35.540> universes<00:07:36.080> a<00:07:36.170> shard 00:07:36.400 --> 00:07:36.410 align:start position:0% each one of these universes a shard 00:07:36.410 --> 00:07:38.530 align:start position:0% each one of these universes a shard right<00:07:37.010> so<00:07:37.160> each<00:07:37.340> universe<00:07:37.790> has<00:07:38.060> its<00:07:38.330> own 00:07:38.530 --> 00:07:38.540 align:start position:0% right so each universe has its own 00:07:38.540 --> 00:07:40.210 align:start position:0% right so each universe has its own account<00:07:38.810> space<00:07:39.140> its<00:07:39.410> own<00:07:39.530> account<00:07:39.800> its<00:07:40.100> own 00:07:40.210 --> 00:07:40.220 align:start position:0% account space its own account its own 00:07:40.220 --> 00:07:42.850 align:start position:0% account space its own account its own contracts<00:07:40.880> you<00:07:41.810> can<00:07:41.960> have<00:07:42.050> transactions<00:07:42.710> when 00:07:42.850 --> 00:07:42.860 align:start position:0% contracts you can have transactions when 00:07:42.860 --> 00:07:44.830 align:start position:0% contracts you can have transactions when they<00:07:42.950> each<00:07:43.070> card<00:07:43.370> and<00:07:43.910> you<00:07:44.090> only<00:07:44.300> allow 00:07:44.830 --> 00:07:44.840 align:start position:0% they each card and you only allow 00:07:44.840 --> 00:07:46.660 align:start position:0% they each card and you only allow asynchronous<00:07:45.800> communication<00:07:46.010> between 00:07:46.660 --> 00:07:46.670 align:start position:0% asynchronous communication between 00:07:46.670 --> 00:07:49.930 align:start position:0% asynchronous communication between shards<00:07:47.210> so<00:07:47.420> if<00:07:48.110> you<00:07:48.260> want<00:07:48.440> to<00:07:48.500> send<00:07:48.770> a<00:07:48.980> coin 00:07:49.930 --> 00:07:49.940 align:start position:0% shards so if you want to send a coin 00:07:49.940 --> 00:07:51.970 align:start position:0% shards so if you want to send a coin from<00:07:50.090> shard<00:07:50.390> a<00:07:50.540> to<00:07:50.600> short<00:07:50.900> B<00:07:51.080> you<00:07:51.650> actually 00:07:51.970 --> 00:07:51.980 align:start position:0% from shard a to short B you actually 00:07:51.980 --> 00:07:53.500 align:start position:0% from shard a to short B you actually have<00:07:52.100> to<00:07:52.220> have<00:07:52.310> two<00:07:52.520> transactions<00:07:53.150> the<00:07:53.330> first 00:07:53.500 --> 00:07:53.510 align:start position:0% have to have two transactions the first 00:07:53.510 --> 00:07:55.540 align:start position:0% have to have two transactions the first transaction<00:07:53.900> on<00:07:54.170> shard<00:07:54.410> a<00:07:54.590> in<00:07:54.830> the<00:07:55.220> second 00:07:55.540 --> 00:07:55.550 align:start position:0% transaction on shard a in the second 00:07:55.550 --> 00:07:59.470 align:start position:0% transaction on shard a in the second transaction<00:07:56.120> on<00:07:56.420> shard<00:07:56.660> beam<00:07:57.100> and<00:07:58.480> contracts 00:07:59.470 --> 00:07:59.480 align:start position:0% transaction on shard beam and contracts 00:07:59.480 --> 00:08:02.020 align:start position:0% transaction on shard beam and contracts on<00:07:59.690> shard<00:07:59.960> a<00:08:00.170> cannot<00:08:00.950> synchronous<00:08:01.640> we<00:08:01.820> call 00:08:02.020 --> 00:08:02.030 align:start position:0% on shard a cannot synchronous we call 00:08:02.030 --> 00:08:04.360 align:start position:0% on shard a cannot synchronous we call contracts<00:08:02.540> on<00:08:02.630> shard<00:08:02.870> B<00:08:03.050> so<00:08:03.560> you<00:08:03.620> cannot<00:08:03.980> call 00:08:04.360 --> 00:08:04.370 align:start position:0% contracts on shard B so you cannot call 00:08:04.370 --> 00:08:06.580 align:start position:0% contracts on shard B so you cannot call a<00:08:04.400> contract<00:08:05.030> on<00:08:05.150> shard<00:08:05.360> B<00:08:05.570> and<00:08:05.840> get<00:08:06.110> a<00:08:06.140> response 00:08:06.580 --> 00:08:06.590 align:start position:0% a contract on shard B and get a response 00:08:06.590 --> 00:08:08.020 align:start position:0% a contract on shard B and get a response and<00:08:06.800> do<00:08:06.920> something<00:08:07.250> with<00:08:07.370> that<00:08:07.400> response<00:08:07.850> in 00:08:08.020 --> 00:08:08.030 align:start position:0% and do something with that response in 00:08:08.030 --> 00:08:11.350 align:start position:0% and do something with that response in one<00:08:08.150> transaction<00:08:08.920> and<00:08:09.920> the<00:08:10.670> benefit<00:08:11.060> of<00:08:11.150> this 00:08:11.350 --> 00:08:11.360 align:start position:0% one transaction and the benefit of this 00:08:11.360 --> 00:08:13.870 align:start position:0% one transaction and the benefit of this is<00:08:11.600> that<00:08:11.660> each<00:08:11.990> client<00:08:12.320> only<00:08:12.980> processes<00:08:13.850> a 00:08:13.870 --> 00:08:13.880 align:start position:0% is that each client only processes a 00:08:13.880 --> 00:08:15.910 align:start position:0% is that each client only processes a small<00:08:14.300> portion<00:08:14.750> of<00:08:14.840> all<00:08:15.050> the<00:08:15.170> activity<00:08:15.650> on<00:08:15.770> the 00:08:15.910 --> 00:08:15.920 align:start position:0% small portion of all the activity on the 00:08:15.920 --> 00:08:17.860 align:start position:0% small portion of all the activity on the network<00:08:16.010> so<00:08:16.970> the<00:08:17.090> reason<00:08:17.390> why<00:08:17.510> we<00:08:17.690> call<00:08:17.840> it 00:08:17.860 --> 00:08:17.870 align:start position:0% network so the reason why we call it 00:08:17.870 --> 00:08:20.260 align:start position:0% network so the reason why we call it quadratic<00:08:18.560> sharding<00:08:18.950> is<00:08:19.100> because<00:08:19.490> if<00:08:19.820> you 00:08:20.260 --> 00:08:20.270 align:start position:0% quadratic sharding is because if you 00:08:20.270 --> 00:08:22.090 align:start position:0% quadratic sharding is because if you imagine<00:08:20.420> you<00:08:21.200> know<00:08:21.290> though<00:08:21.470> a<00:08:21.500> processing 00:08:22.090 --> 00:08:22.100 align:start position:0% imagine you know though a processing 00:08:22.100 --> 00:08:24.580 align:start position:0% imagine you know though a processing capacity<00:08:22.250> of<00:08:22.760> one<00:08:22.970> computer<00:08:23.360> to<00:08:23.540> be<00:08:23.780> n<00:08:23.960> then 00:08:24.580 --> 00:08:24.590 align:start position:0% capacity of one computer to be n then 00:08:24.590 --> 00:08:27.010 align:start position:0% capacity of one computer to be n then you<00:08:24.680> can<00:08:24.830> imagine<00:08:24.950> n<00:08:25.430> shards<00:08:25.880> and<00:08:26.120> each<00:08:26.660> shard 00:08:27.010 --> 00:08:27.020 align:start position:0% you can imagine n shards and each shard 00:08:27.020 --> 00:08:29.740 align:start position:0% you can imagine n shards and each shard has<00:08:27.320> you<00:08:27.590> know<00:08:27.710> n<00:08:28.040> worth<00:08:28.310> of<00:08:28.460> activity<00:08:28.910> each 00:08:29.740 --> 00:08:29.750 align:start position:0% has you know n worth of activity each 00:08:29.750 --> 00:08:32.440 align:start position:0% has you know n worth of activity each node<00:08:30.320> would<00:08:30.590> have<00:08:30.800> to<00:08:30.980> would<00:08:31.340> have<00:08:31.580> to<00:08:31.760> process 00:08:32.440 --> 00:08:32.450 align:start position:0% node would have to would have to process 00:08:32.450 --> 00:08:34.330 align:start position:0% node would have to would have to process the<00:08:32.810> activity<00:08:33.260> on<00:08:33.410> basically<00:08:33.890> just<00:08:34.070> the<00:08:34.190> one 00:08:34.330 --> 00:08:34.340 align:start position:0% the activity on basically just the one 00:08:34.340 --> 00:08:36.580 align:start position:0% the activity on basically just the one short<00:08:34.640> it's<00:08:34.790> interested<00:08:35.240> in<00:08:35.360> and<00:08:35.780> every<00:08:36.410> node 00:08:36.580 --> 00:08:36.590 align:start position:0% short it's interested in and every node 00:08:36.590 --> 00:08:38.260 align:start position:0% short it's interested in and every node would<00:08:36.770> have<00:08:36.890> to<00:08:37.010> process<00:08:37.220> the<00:08:37.580> activity<00:08:38.090> of 00:08:38.260 --> 00:08:38.270 align:start position:0% would have to process the activity of 00:08:38.270 --> 00:08:39.970 align:start position:0% would have to process the activity of kind<00:08:38.510> of<00:08:38.540> the<00:08:38.690> entire<00:08:38.960> system<00:08:39.380> of<00:08:39.440> shards<00:08:39.770> so 00:08:39.970 --> 00:08:39.980 align:start position:0% kind of the entire system of shards so 00:08:39.980 --> 00:08:42.370 align:start position:0% kind of the entire system of shards so the<00:08:40.850> amount<00:08:41.180> of<00:08:41.300> activity<00:08:41.810> of<00:08:41.900> each<00:08:42.050> node 00:08:42.370 --> 00:08:42.380 align:start position:0% the amount of activity of each node 00:08:42.380 --> 00:08:44.350 align:start position:0% the amount of activity of each node would<00:08:42.590> basically<00:08:42.740> be<00:08:42.980> n<00:08:43.310> at<00:08:43.550> the<00:08:43.640> top<00:08:43.850> and<00:08:44.120> at 00:08:44.350 --> 00:08:44.360 align:start position:0% would basically be n at the top and at 00:08:44.360 --> 00:08:46.540 align:start position:0% would basically be n at the top and at the<00:08:44.390> bottom<00:08:44.480> so<00:08:44.930> a<00:08:44.960> total<00:08:45.200> of<00:08:45.350> 2n<00:08:45.740> but<00:08:46.430> the 00:08:46.540 --> 00:08:46.550 align:start position:0% the bottom so a total of 2n but the 00:08:46.550 --> 00:08:48.130 align:start position:0% the bottom so a total of 2n but the capacity<00:08:46.670> of<00:08:47.120> the<00:08:47.210> entire<00:08:47.330> system<00:08:47.810> would<00:08:47.870> be<00:08:48.020> N 00:08:48.130 --> 00:08:48.140 align:start position:0% capacity of the entire system would be N 00:08:48.140 --> 00:08:50.290 align:start position:0% capacity of the entire system would be N squared<00:08:48.170> and<00:08:48.940> theoretically<00:08:49.940> you<00:08:50.000> can<00:08:50.180> make 00:08:50.290 --> 00:08:50.300 align:start position:0% squared and theoretically you can make 00:08:50.300 --> 00:08:52.420 align:start position:0% squared and theoretically you can make the<00:08:50.420> sharding<00:08:50.780> be<00:08:50.870> exponential<00:08:51.560> but<00:08:51.860> you<00:08:52.340> know 00:08:52.420 --> 00:08:52.430 align:start position:0% the sharding be exponential but you know 00:08:52.430 --> 00:08:54.250 align:start position:0% the sharding be exponential but you know a<00:08:52.460> quadratic<00:08:52.970> is<00:08:53.210> simpler<00:08:53.690> and<00:08:53.990> you<00:08:54.170> know 00:08:54.250 --> 00:08:54.260 align:start position:0% a quadratic is simpler and you know 00:08:54.260 --> 00:08:55.600 align:start position:0% a quadratic is simpler and you know there<00:08:54.440> might<00:08:54.560> be<00:08:54.620> good<00:08:54.830> reasons<00:08:54.890> to<00:08:55.280> keep<00:08:55.490> it 00:08:55.600 --> 00:08:55.610 align:start position:0% there might be good reasons to keep it 00:08:55.610 --> 00:08:56.889 align:start position:0% there might be good reasons to keep it quadratic<00:08:56.090> and<00:08:56.300> it<00:08:56.660> may 00:08:56.889 --> 00:08:56.899 align:start position:0% quadratic and it may 00:08:56.899 --> 00:08:58.480 align:start position:0% quadratic and it may we'll<00:08:57.050> be<00:08:57.170> a<00:08:57.199> reasonable<00:08:57.740> approach<00:08:58.009> to<00:08:58.040> say 00:08:58.480 --> 00:08:58.490 align:start position:0% we'll be a reasonable approach to say 00:08:58.490 --> 00:09:00.280 align:start position:0% we'll be a reasonable approach to say you<00:08:58.970> know<00:08:59.089> we<00:08:59.329> only<00:08:59.360> do<00:08:59.689> shorting<00:09:00.079> up<00:09:00.170> to 00:09:00.280 --> 00:09:00.290 align:start position:0% you know we only do shorting up to 00:09:00.290 --> 00:09:01.600 align:start position:0% you know we only do shorting up to quadratic<00:09:00.589> and<00:09:00.889> if<00:09:00.980> you<00:09:01.100> want<00:09:01.249> to<00:09:01.309> go<00:09:01.399> up<00:09:01.490> to 00:09:01.600 --> 00:09:01.610 align:start position:0% quadratic and if you want to go up to 00:09:01.610 --> 00:09:03.699 align:start position:0% quadratic and if you want to go up to exponential<00:09:02.269> then<00:09:02.449> basically<00:09:03.290> you<00:09:03.439> have<00:09:03.589> to 00:09:03.699 --> 00:09:03.709 align:start position:0% exponential then basically you have to 00:09:03.709 --> 00:09:05.199 align:start position:0% exponential then basically you have to stick<00:09:03.920> with<00:09:04.100> things<00:09:04.490> like<00:09:04.730> shorting<00:09:05.119> in 00:09:05.199 --> 00:09:05.209 align:start position:0% stick with things like shorting in 00:09:05.209 --> 00:09:06.189 align:start position:0% stick with things like shorting in plasma<00:09:05.600> or<00:09:05.809> sorry 00:09:06.189 --> 00:09:06.199 align:start position:0% plasma or sorry 00:09:06.199 --> 00:09:09.489 align:start position:0% plasma or sorry well<00:09:06.470> state<00:09:06.800> channels<00:09:07.160> in<00:09:07.279> plasma<00:09:07.930> um<00:09:08.930> another 00:09:09.489 --> 00:09:09.499 align:start position:0% well state channels in plasma um another 00:09:09.499 --> 00:09:11.710 align:start position:0% well state channels in plasma um another challenge<00:09:10.189> that<00:09:10.399> we've<00:09:10.519> had<00:09:10.790> is<00:09:11.119> this<00:09:11.360> kind<00:09:11.629> of 00:09:11.710 --> 00:09:11.720 align:start position:0% challenge that we've had is this kind of 00:09:11.720 --> 00:09:13.239 align:start position:0% challenge that we've had is this kind of challenge<00:09:12.110> of<00:09:12.230> governance<00:09:12.619> and<00:09:12.860> protocol 00:09:13.239 --> 00:09:13.249 align:start position:0% challenge of governance and protocol 00:09:13.249 --> 00:09:15.429 align:start position:0% challenge of governance and protocol evolution<00:09:13.819> so<00:09:14.480> basically<00:09:14.899> you<00:09:15.079> know<00:09:15.170> we<00:09:15.290> have 00:09:15.429 --> 00:09:15.439 align:start position:0% evolution so basically you know we have 00:09:15.439 --> 00:09:17.739 align:start position:0% evolution so basically you know we have this<00:09:15.559> trade-off<00:09:15.949> where<00:09:16.399> on<00:09:16.639> the<00:09:17.149> one<00:09:17.269> hand<00:09:17.569> we 00:09:17.739 --> 00:09:17.749 align:start position:0% this trade-off where on the one hand we 00:09:17.749 --> 00:09:19.569 align:start position:0% this trade-off where on the one hand we want<00:09:17.959> progress<00:09:18.290> but<00:09:18.769> on<00:09:18.889> the<00:09:18.980> other<00:09:19.100> hand<00:09:19.429> you 00:09:19.569 --> 00:09:19.579 align:start position:0% want progress but on the other hand you 00:09:19.579 --> 00:09:20.889 align:start position:0% want progress but on the other hand you know<00:09:19.670> there<00:09:19.819> is<00:09:19.939> demand<00:09:20.269> for<00:09:20.389> protocol 00:09:20.889 --> 00:09:20.899 align:start position:0% know there is demand for protocol 00:09:20.899 --> 00:09:24.489 align:start position:0% know there is demand for protocol stability<00:09:21.410> and<00:09:22.269> hard<00:09:23.269> forks<00:09:23.689> making<00:09:24.170> deep 00:09:24.489 --> 00:09:24.499 align:start position:0% stability and hard forks making deep 00:09:24.499 --> 00:09:27.220 align:start position:0% stability and hard forks making deep changes<00:09:25.069> are<00:09:25.249> hard<00:09:25.490> right<00:09:26.149> so<00:09:26.449> we<00:09:26.929> finally 00:09:27.220 --> 00:09:27.230 align:start position:0% changes are hard right so we finally 00:09:27.230 --> 00:09:30.150 align:start position:0% changes are hard right so we finally gotten<00:09:27.709> by<00:09:27.829> CNT<00:09:28.249> em<00:09:28.369> out<00:09:28.579> on<00:09:28.879> October<00:09:29.059> 16th<00:09:29.779> and 00:09:30.150 --> 00:09:30.160 align:start position:0% gotten by CNT em out on October 16th and 00:09:30.160 --> 00:09:32.799 align:start position:0% gotten by CNT em out on October 16th and byzantium<00:09:31.160> is<00:09:31.279> the<00:09:31.399> result<00:09:31.759> of<00:09:32.029> over<00:09:32.569> a<00:09:32.720> year 00:09:32.799 --> 00:09:32.809 align:start position:0% byzantium is the result of over a year 00:09:32.809 --> 00:09:35.019 align:start position:0% byzantium is the result of over a year of<00:09:33.019> work<00:09:33.139> a<00:09:33.559> large<00:09:34.009> amount<00:09:34.309> of<00:09:34.369> testing<00:09:34.819> and 00:09:35.019 --> 00:09:35.029 align:start position:0% of work a large amount of testing and 00:09:35.029 --> 00:09:37.749 align:start position:0% of work a large amount of testing and you<00:09:35.689> know<00:09:35.809> even<00:09:36.259> after<00:09:36.559> a<00:09:36.800> year<00:09:36.949> of<00:09:37.249> testing<00:09:37.429> we 00:09:37.749 --> 00:09:37.759 align:start position:0% you know even after a year of testing we 00:09:37.759 --> 00:09:39.549 align:start position:0% you know even after a year of testing we still<00:09:37.999> required<00:09:38.389> some<00:09:38.689> pretty<00:09:38.899> epic<00:09:39.139> work 00:09:39.549 --> 00:09:39.559 align:start position:0% still required some pretty epic work 00:09:39.559 --> 00:09:41.559 align:start position:0% still required some pretty epic work between<00:09:39.980> you<00:09:40.610> know<00:09:40.699> it's<00:09:40.819> the<00:09:40.970> go<00:09:41.089> team<00:09:41.329> and 00:09:41.559 --> 00:09:41.569 align:start position:0% between you know it's the go team and 00:09:41.569 --> 00:09:44.049 align:start position:0% between you know it's the go team and the<00:09:41.629> parity<00:09:41.990> team<00:09:42.170> doing<00:09:42.980> you<00:09:43.129> know<00:09:43.220> super 00:09:44.049 --> 00:09:44.059 align:start position:0% the parity team doing you know super 00:09:44.059 --> 00:09:45.879 align:start position:0% the parity team doing you know super advanced<00:09:44.509> forms<00:09:44.779> of<00:09:44.899> fuss<00:09:45.110> testing<00:09:45.529> that<00:09:45.679> even 00:09:45.879 --> 00:09:45.889 align:start position:0% advanced forms of fuss testing that even 00:09:45.889 --> 00:09:47.710 align:start position:0% advanced forms of fuss testing that even that<00:09:46.100> I<00:09:46.160> don't<00:09:46.399> even<00:09:46.519> fully<00:09:46.759> understand<00:09:47.389> in 00:09:47.710 --> 00:09:47.720 align:start position:0% that I don't even fully understand in 00:09:47.720 --> 00:09:50.769 align:start position:0% that I don't even fully understand in order<00:09:47.869> to<00:09:48.110> catch<00:09:48.319> you<00:09:48.860> know<00:09:48.889> I<00:09:49.490> fear<00:09:50.480> we<00:09:50.600> were<00:09:50.720> a 00:09:50.769 --> 00:09:50.779 align:start position:0% order to catch you know I fear we were a 00:09:50.779 --> 00:09:53.169 align:start position:0% order to catch you know I fear we were a large<00:09:51.319> number<00:09:51.709> of<00:09:51.740> bugs<00:09:51.949> that<00:09:52.160> had<00:09:52.550> appeared 00:09:53.169 --> 00:09:53.179 align:start position:0% large number of bugs that had appeared 00:09:53.179 --> 00:09:55.780 align:start position:0% large number of bugs that had appeared pretty<00:09:53.480> close<00:09:53.689> to<00:09:53.869> launch<00:09:54.079> so<00:09:54.740> hard<00:09:55.459> Forks 00:09:55.780 --> 00:09:55.790 align:start position:0% pretty close to launch so hard Forks 00:09:55.790 --> 00:09:58.030 align:start position:0% pretty close to launch so hard Forks making<00:09:56.119> deep<00:09:56.360> changes<00:09:56.839> take<00:09:57.350> a<00:09:57.470> long<00:09:57.679> time<00:09:57.889> to 00:09:58.030 --> 00:09:58.040 align:start position:0% making deep changes take a long time to 00:09:58.040 --> 00:10:00.069 align:start position:0% making deep changes take a long time to code<00:09:58.249> take<00:09:58.819> a<00:09:58.850> long<00:09:59.089> time<00:09:59.269> to<00:09:59.449> agree<00:09:59.689> on<00:09:59.720> a<00:09:59.869> long 00:10:00.069 --> 00:10:00.079 align:start position:0% code take a long time to agree on a long 00:10:00.079 --> 00:10:02.079 align:start position:0% code take a long time to agree on a long time<00:10:00.259> to<00:10:00.410> test<00:10:00.619> and<00:10:01.160> there<00:10:01.399> is<00:10:01.490> a<00:10:01.519> high<00:10:01.730> risk<00:10:01.910> of 00:10:02.079 --> 00:10:02.089 align:start position:0% time to test and there is a high risk of 00:10:02.089 --> 00:10:04.239 align:start position:0% time to test and there is a high risk of consensus<00:10:02.600> bugs<00:10:02.809> especially<00:10:03.439> since<00:10:03.709> the 00:10:04.239 --> 00:10:04.249 align:start position:0% consensus bugs especially since the 00:10:04.249 --> 00:10:06.280 align:start position:0% consensus bugs especially since the etherium<00:10:04.670> proton<00:10:04.999> network<00:10:05.360> has<00:10:05.629> like 00:10:06.280 --> 00:10:06.290 align:start position:0% etherium proton network has like 00:10:06.290 --> 00:10:08.319 align:start position:0% etherium proton network has like basically<00:10:06.740> seven<00:10:07.069> different<00:10:07.399> clients<00:10:08.149> that 00:10:08.319 --> 00:10:08.329 align:start position:0% basically seven different clients that 00:10:08.329 --> 00:10:10.360 align:start position:0% basically seven different clients that you<00:10:08.480> have<00:10:08.660> to<00:10:08.839> that<00:10:09.649> all<00:10:09.800> have<00:10:10.009> to<00:10:10.129> implement 00:10:10.360 --> 00:10:10.370 align:start position:0% you have to that all have to implement 00:10:10.370 --> 00:10:12.519 align:start position:0% you have to that all have to implement the<00:10:10.610> protocol<00:10:10.970> and<00:10:11.149> agree<00:10:11.449> on<00:10:11.569> it<00:10:11.720> but<00:10:12.230> even 00:10:12.519 --> 00:10:12.529 align:start position:0% the protocol and agree on it but even 00:10:12.529 --> 00:10:14.439 align:start position:0% the protocol and agree on it but even still<00:10:12.649> even<00:10:13.189> with<00:10:13.309> all<00:10:13.429> these<00:10:13.519> challenges<00:10:13.790> you 00:10:14.439 --> 00:10:14.449 align:start position:0% still even with all these challenges you 00:10:14.449 --> 00:10:15.669 align:start position:0% still even with all these challenges you know<00:10:14.569> we've<00:10:14.720> done<00:10:14.749> by<00:10:15.050> seeing<00:10:15.290> team<00:10:15.439> and<00:10:15.589> we've 00:10:15.669 --> 00:10:15.679 align:start position:0% know we've done by seeing team and we've 00:10:15.679 --> 00:10:18.879 align:start position:0% know we've done by seeing team and we've done<00:10:15.769> it<00:10:15.829> successfully<00:10:16.240> so<00:10:17.410> but<00:10:18.410> the<00:10:18.499> problem 00:10:18.879 --> 00:10:18.889 align:start position:0% done it successfully so but the problem 00:10:18.889 --> 00:10:21.460 align:start position:0% done it successfully so but the problem is<00:10:18.980> right<00:10:19.309> that<00:10:19.850> on<00:10:20.059> the<00:10:20.179> one<00:10:20.300> hand<00:10:20.540> hard<00:10:21.139> forex 00:10:21.460 --> 00:10:21.470 align:start position:0% is right that on the one hand hard forex 00:10:21.470 --> 00:10:23.410 align:start position:0% is right that on the one hand hard forex making<00:10:21.800> deep<00:10:21.980> changes<00:10:22.339> are<00:10:22.490> hard<00:10:22.639> on<00:10:23.029> the 00:10:23.410 --> 00:10:23.420 align:start position:0% making deep changes are hard on the 00:10:23.420 --> 00:10:26.379 align:start position:0% making deep changes are hard on the other<00:10:23.600> hand<00:10:23.929> to<00:10:24.620> get<00:10:24.889> to<00:10:25.129> what<00:10:25.279> we<00:10:25.399> want<00:10:25.699> to<00:10:26.089> see 00:10:26.379 --> 00:10:26.389 align:start position:0% other hand to get to what we want to see 00:10:26.389 --> 00:10:29.679 align:start position:0% other hand to get to what we want to see in<00:10:26.629> aetherium<00:10:27.019> 2.0<00:10:27.679> so<00:10:28.249> to<00:10:28.309> get<00:10:28.670> to<00:10:28.970> this<00:10:29.480> kind 00:10:29.679 --> 00:10:29.689 align:start position:0% in aetherium 2.0 so to get to this kind 00:10:29.689 --> 00:10:31.360 align:start position:0% in aetherium 2.0 so to get to this kind of<00:10:29.779> highly<00:10:30.170> shorted<00:10:30.589> highly<00:10:30.920> scalable 00:10:31.360 --> 00:10:31.370 align:start position:0% of highly shorted highly scalable 00:10:31.370 --> 00:10:34.299 align:start position:0% of highly shorted highly scalable network<00:10:31.730> as<00:10:31.970> well<00:10:32.629> as<00:10:32.959> all<00:10:33.439> of<00:10:33.499> the<00:10:33.860> EVM 00:10:34.299 --> 00:10:34.309 align:start position:0% network as well as all of the EVM 00:10:34.309 --> 00:10:35.799 align:start position:0% network as well as all of the EVM upgrades<00:10:34.730> we<00:10:34.910> want<00:10:35.120> to<00:10:35.209> do<00:10:35.300> all<00:10:35.600> of<00:10:35.629> the 00:10:35.799 --> 00:10:35.809 align:start position:0% upgrades we want to do all of the 00:10:35.809 --> 00:10:37.509 align:start position:0% upgrades we want to do all of the paralyzed<00:10:36.230> ability<00:10:36.679> upgrades<00:10:37.009> we<00:10:37.160> want<00:10:37.339> to<00:10:37.399> do 00:10:37.509 --> 00:10:37.519 align:start position:0% paralyzed ability upgrades we want to do 00:10:37.519 --> 00:10:41.199 align:start position:0% paralyzed ability upgrades we want to do EVM<00:10:38.329> 1.5<00:10:38.929> II<00:10:39.259> was<00:10:39.819> potentially<00:10:40.819> more<00:10:40.999> pre 00:10:41.199 --> 00:10:41.209 align:start position:0% EVM 1.5 II was potentially more pre 00:10:41.209 --> 00:10:44.139 align:start position:0% EVM 1.5 II was potentially more pre compiles<00:10:41.749> in<00:10:42.290> order<00:10:42.589> to<00:10:42.740> get<00:10:42.949> to<00:10:43.220> this<00:10:43.730> ideal 00:10:44.139 --> 00:10:44.149 align:start position:0% compiles in order to get to this ideal 00:10:44.149 --> 00:10:47.110 align:start position:0% compiles in order to get to this ideal and<00:10:44.420> state<00:10:44.720> very<00:10:45.529> deep<00:10:45.920> changes<00:10:46.399> or<00:10:46.610> exactly 00:10:47.110 --> 00:10:47.120 align:start position:0% and state very deep changes or exactly 00:10:47.120 --> 00:10:50.379 align:start position:0% and state very deep changes or exactly what<00:10:47.240> we<00:10:47.360> need<00:10:47.529> so<00:10:48.529> what<00:10:48.920> do<00:10:49.009> we<00:10:49.069> do<00:10:49.279> how<00:10:50.240> do<00:10:50.299> we 00:10:50.379 --> 00:10:50.389 align:start position:0% what we need so what do we do how do we 00:10:50.389 --> 00:10:52.679 align:start position:0% what we need so what do we do how do we handle<00:10:50.569> the<00:10:50.749> trade-off 00:10:52.679 --> 00:10:52.689 align:start position:0% handle the trade-off 00:10:52.689 --> 00:10:55.929 align:start position:0% handle the trade-off so<00:10:53.689> intuition<00:10:54.499> one<00:10:54.889> blockchain<00:10:55.339> two<00:10:55.490> systems 00:10:55.929 --> 00:10:55.939 align:start position:0% so intuition one blockchain two systems 00:10:55.939 --> 00:10:58.840 align:start position:0% so intuition one blockchain two systems and<00:10:56.209> I'll<00:10:56.990> make<00:10:57.110> this<00:10:57.259> clear<00:10:57.529> with<00:10:57.860> the<00:10:58.220> kind 00:10:58.840 --> 00:10:58.850 align:start position:0% and I'll make this clear with the kind 00:10:58.850 --> 00:11:00.249 align:start position:0% and I'll make this clear with the kind of<00:10:58.910> diagram<00:10:59.389> that<00:10:59.629> will<00:10:59.720> show<00:10:59.899> in<00:11:00.049> the<00:11:00.139> next 00:11:00.249 --> 00:11:00.259 align:start position:0% of diagram that will show in the next 00:11:00.259 --> 00:11:04.030 align:start position:0% of diagram that will show in the next slide<00:11:00.410> so<00:11:01.839> here<00:11:02.839> is<00:11:03.079> you<00:11:03.439> know<00:11:03.529> what<00:11:03.889> a 00:11:04.030 --> 00:11:04.040 align:start position:0% slide so here is you know what a 00:11:04.040 --> 00:11:06.309 align:start position:0% slide so here is you know what a sharding<00:11:04.490> system<00:11:04.879> as<00:11:05.059> we're<00:11:05.929> already 00:11:06.309 --> 00:11:06.319 align:start position:0% sharding system as we're already 00:11:06.319 --> 00:11:09.100 align:start position:0% sharding system as we're already starting<00:11:06.679> to<00:11:06.920> build<00:11:07.189> my<00:11:07.610> as<00:11:08.120> could<00:11:09.019> possibly 00:11:09.100 --> 00:11:09.110 align:start position:0% starting to build my as could possibly 00:11:09.110 --> 00:11:10.630 align:start position:0% starting to build my as could possibly look<00:11:09.740> like<00:11:09.769> right 00:11:10.630 --> 00:11:10.640 align:start position:0% look like right 00:11:10.640 --> 00:11:13.090 align:start position:0% look like right you<00:11:10.730> have<00:11:10.940> the<00:11:11.090> main<00:11:11.240> chain<00:11:11.510> and<00:11:11.780> in<00:11:12.770> the<00:11:12.950> main 00:11:13.090 --> 00:11:13.100 align:start position:0% you have the main chain and in the main 00:11:13.100 --> 00:11:14.710 align:start position:0% you have the main chain and in the main chain<00:11:13.370> you<00:11:13.880> know<00:11:13.970> it's<00:11:14.150> basically<00:11:14.360> or 00:11:14.710 --> 00:11:14.720 align:start position:0% chain you know it's basically or 00:11:14.720 --> 00:11:16.480 align:start position:0% chain you know it's basically or everything<00:11:15.380> is<00:11:15.500> basically<00:11:15.830> as<00:11:16.040> it<00:11:16.190> was<00:11:16.310> before 00:11:16.480 --> 00:11:16.490 align:start position:0% everything is basically as it was before 00:11:16.490 --> 00:11:18.880 align:start position:0% everything is basically as it was before you<00:11:17.240> have<00:11:17.390> your<00:11:17.570> blocks<00:11:17.810> you<00:11:18.320> have<00:11:18.470> your<00:11:18.620> state 00:11:18.880 --> 00:11:18.890 align:start position:0% you have your blocks you have your state 00:11:18.890 --> 00:11:20.170 align:start position:0% you have your blocks you have your state route<00:11:19.070> you<00:11:19.190> have<00:11:19.310> your<00:11:19.430> transaction<00:11:19.970> route 00:11:20.170 --> 00:11:20.180 align:start position:0% route you have your transaction route 00:11:20.180 --> 00:11:22.000 align:start position:0% route you have your transaction route you<00:11:20.570> have<00:11:20.600> your<00:11:20.930> state<00:11:21.230> you<00:11:21.680> have<00:11:21.860> your 00:11:22.000 --> 00:11:22.010 align:start position:0% you have your state you have your 00:11:22.010 --> 00:11:25.030 align:start position:0% you have your state you have your accounts<00:11:22.490> your<00:11:22.640> contracts<00:11:23.090> your<00:11:23.300> storage<00:11:24.040> now 00:11:25.030 --> 00:11:25.040 align:start position:0% accounts your contracts your storage now 00:11:25.040 --> 00:11:27.130 align:start position:0% accounts your contracts your storage now what<00:11:25.460> we're<00:11:25.610> going<00:11:25.760> to<00:11:25.850> do<00:11:26.030> is<00:11:26.360> in<00:11:26.720> the<00:11:26.960> main 00:11:27.130 --> 00:11:27.140 align:start position:0% what we're going to do is in the main 00:11:27.140 --> 00:11:29.620 align:start position:0% what we're going to do is in the main chain<00:11:27.470> we're<00:11:28.040> going<00:11:28.250> to<00:11:28.340> add<00:11:28.490> something<00:11:28.970> or<00:11:29.570> a 00:11:29.620 --> 00:11:29.630 align:start position:0% chain we're going to add something or a 00:11:29.630 --> 00:11:32.740 align:start position:0% chain we're going to add something or a called<00:11:30.290> a<00:11:30.590> validator<00:11:31.280> manager<00:11:31.640> contract<00:11:32.090> now 00:11:32.740 --> 00:11:32.750 align:start position:0% called a validator manager contract now 00:11:32.750 --> 00:11:34.540 align:start position:0% called a validator manager contract now what<00:11:32.930> is<00:11:33.020> the<00:11:33.140> validator<00:11:33.500> manager<00:11:33.920> contract<00:11:34.370> - 00:11:34.540 --> 00:11:34.550 align:start position:0% what is the validator manager contract - 00:11:34.550 --> 00:11:37.450 align:start position:0% what is the validator manager contract - it<00:11:35.120> basically<00:11:35.390> runs<00:11:36.140> a<00:11:36.410> proof<00:11:37.070> of<00:11:37.160> stake 00:11:37.450 --> 00:11:37.460 align:start position:0% it basically runs a proof of stake 00:11:37.460 --> 00:11:40.870 align:start position:0% it basically runs a proof of stake system<00:11:37.970> that<00:11:38.600> maintains<00:11:38.960> the<00:11:39.470> consensus<00:11:40.160> for 00:11:40.870 --> 00:11:40.880 align:start position:0% system that maintains the consensus for 00:11:40.880 --> 00:11:44.080 align:start position:0% system that maintains the consensus for a<00:11:41.150> kind<00:11:42.080> of<00:11:42.170> two<00:11:42.410> layer<00:11:42.620> shorting<00:11:43.190> system<00:11:43.580> that 00:11:44.080 --> 00:11:44.090 align:start position:0% a kind of two layer shorting system that 00:11:44.090 --> 00:11:46.360 align:start position:0% a kind of two layer shorting system that exists<00:11:44.630> kind<00:11:44.840> of<00:11:44.900> on<00:11:45.080> top<00:11:45.110> over<00:11:45.650> even<00:11:45.920> inside 00:11:46.360 --> 00:11:46.370 align:start position:0% exists kind of on top over even inside 00:11:46.370 --> 00:11:49.240 align:start position:0% exists kind of on top over even inside the<00:11:47.120> main<00:11:47.300> chain<00:11:47.540> in<00:11:47.690> a<00:11:47.750> certain<00:11:48.020> sense<00:11:48.230> so<00:11:49.130> the 00:11:49.240 --> 00:11:49.250 align:start position:0% the main chain in a certain sense so the 00:11:49.250 --> 00:11:51.910 align:start position:0% the main chain in a certain sense so the validator<00:11:49.640> manager<00:11:50.000> contracts<00:11:50.600> would<00:11:51.110> keep 00:11:51.910 --> 00:11:51.920 align:start position:0% validator manager contracts would keep 00:11:51.920 --> 00:11:54.400 align:start position:0% validator manager contracts would keep track<00:11:52.160> of<00:11:52.540> validators<00:11:53.540> and<00:11:53.750> would<00:11:54.140> allow 00:11:54.400 --> 00:11:54.410 align:start position:0% track of validators and would allow 00:11:54.410 --> 00:11:56.140 align:start position:0% track of validators and would allow anyone<00:11:54.860> to<00:11:55.010> join<00:11:55.460> and<00:11:55.670> leave<00:11:55.790> the<00:11:55.940> system 00:11:56.140 --> 00:11:56.150 align:start position:0% anyone to join and leave the system 00:11:56.150 --> 00:11:59.140 align:start position:0% anyone to join and leave the system service<00:11:56.930> a<00:11:57.020> validator<00:11:57.440> and<00:11:57.650> basically<00:11:58.550> assign 00:11:59.140 --> 00:11:59.150 align:start position:0% service a validator and basically assign 00:11:59.150 --> 00:12:02.950 align:start position:0% service a validator and basically assign the<00:11:59.420> right<00:11:59.660> to<00:12:00.230> create<00:12:00.530> blocks<00:12:01.130> on<00:12:01.520> like<00:12:02.150> in 00:12:02.950 --> 00:12:02.960 align:start position:0% the right to create blocks on like in 00:12:02.960 --> 00:12:04.660 align:start position:0% the right to create blocks on like in each<00:12:03.380> of<00:12:03.530> these<00:12:03.650> end<00:12:03.890> shards<00:12:04.400> that<00:12:04.490> the 00:12:04.660 --> 00:12:04.670 align:start position:0% each of these end shards that the 00:12:04.670 --> 00:12:06.220 align:start position:0% each of these end shards that the validator<00:12:05.090> manager<00:12:05.420> contract<00:12:05.810> keeps<00:12:05.990> track 00:12:06.220 --> 00:12:06.230 align:start position:0% validator manager contract keeps track 00:12:06.230 --> 00:12:08.620 align:start position:0% validator manager contract keeps track of<00:12:06.260> the<00:12:06.620> VMC<00:12:07.580> would<00:12:07.790> also<00:12:07.940> keep<00:12:08.210> track<00:12:08.270> of 00:12:08.620 --> 00:12:08.630 align:start position:0% of the VMC would also keep track of 00:12:08.630 --> 00:12:10.110 align:start position:0% of the VMC would also keep track of block<00:12:08.840> headers<00:12:09.170> for<00:12:09.380> each<00:12:09.440> of<00:12:09.590> these<00:12:09.710> charts 00:12:10.110 --> 00:12:10.120 align:start position:0% block headers for each of these charts 00:12:10.120 --> 00:12:14.980 align:start position:0% block headers for each of these charts but<00:12:11.120> and<00:12:12.580> but<00:12:13.580> what<00:12:13.850> the<00:12:13.940> VM<00:12:14.210> see<00:12:14.390> would<00:12:14.600> not<00:12:14.780> do 00:12:14.980 --> 00:12:14.990 align:start position:0% but and but what the VM see would not do 00:12:14.990 --> 00:12:17.620 align:start position:0% but and but what the VM see would not do is<00:12:15.290> it<00:12:15.530> would<00:12:15.680> not<00:12:15.980> verify<00:12:16.910> the<00:12:16.970> full<00:12:17.300> blocks 00:12:17.620 --> 00:12:17.630 align:start position:0% is it would not verify the full blocks 00:12:17.630 --> 00:12:19.600 align:start position:0% is it would not verify the full blocks of<00:12:17.840> the<00:12:17.930> shard<00:12:18.140> and<00:12:18.320> the<00:12:18.710> VM<00:12:18.950> C<00:12:19.160> would<00:12:19.370> not 00:12:19.600 --> 00:12:19.610 align:start position:0% of the shard and the VM C would not 00:12:19.610 --> 00:12:21.880 align:start position:0% of the shard and the VM C would not contain<00:12:20.330> a<00:12:20.390> copy<00:12:20.780> of<00:12:20.990> all<00:12:21.140> the<00:12:21.170> new<00:12:21.380> consensus 00:12:21.880 --> 00:12:21.890 align:start position:0% contain a copy of all the new consensus 00:12:21.890 --> 00:12:24.580 align:start position:0% contain a copy of all the new consensus rules<00:12:22.130> instead<00:12:22.880> basically<00:12:23.690> actually 00:12:24.580 --> 00:12:24.590 align:start position:0% rules instead basically actually 00:12:24.590 --> 00:12:26.770 align:start position:0% rules instead basically actually creating<00:12:25.190> valid<00:12:25.490> blocks<00:12:25.760> actually<00:12:26.090> enforcing 00:12:26.770 --> 00:12:26.780 align:start position:0% creating valid blocks actually enforcing 00:12:26.780 --> 00:12:28.600 align:start position:0% creating valid blocks actually enforcing that<00:12:26.810> the<00:12:26.960> blocks<00:12:27.170> are<00:12:27.290> valid<00:12:27.680> in<00:12:28.010> the<00:12:28.220> shards 00:12:28.600 --> 00:12:28.610 align:start position:0% that the blocks are valid in the shards 00:12:28.610 --> 00:12:30.400 align:start position:0% that the blocks are valid in the shards actually<00:12:29.060> enforcing<00:12:29.570> that<00:12:29.720> the<00:12:29.810> data<00:12:30.020> in<00:12:30.260> the 00:12:30.400 --> 00:12:30.410 align:start position:0% actually enforcing that the data in the 00:12:30.410 --> 00:12:34.900 align:start position:0% actually enforcing that the data in the shards<00:12:30.700> is<00:12:31.720> it<00:12:32.720> is<00:12:33.590> entirely<00:12:34.010> available<00:12:34.340> and 00:12:34.900 --> 00:12:34.910 align:start position:0% shards is it is entirely available and 00:12:34.910 --> 00:12:36.460 align:start position:0% shards is it is entirely available and follows<00:12:35.270> the<00:12:35.390> desired<00:12:35.660> consensus<00:12:36.200> rules 00:12:36.460 --> 00:12:36.470 align:start position:0% follows the desired consensus rules 00:12:36.470 --> 00:12:38.410 align:start position:0% follows the desired consensus rules basically<00:12:37.160> is<00:12:37.610> there<00:12:37.850> would<00:12:38.090> be<00:12:38.120> the 00:12:38.410 --> 00:12:38.420 align:start position:0% basically is there would be the 00:12:38.420 --> 00:12:40.720 align:start position:0% basically is there would be the responsibility<00:12:39.020> of<00:12:39.290> the<00:12:40.130> proof<00:12:40.340> of<00:12:40.460> stake 00:12:40.720 --> 00:12:40.730 align:start position:0% responsibility of the proof of stake 00:12:40.730 --> 00:12:42.640 align:start position:0% responsibility of the proof of stake that<00:12:40.940> exists<00:12:41.390> inside<00:12:41.630> the<00:12:41.930> validator<00:12:42.290> manager 00:12:42.640 --> 00:12:42.650 align:start position:0% that exists inside the validator manager 00:12:42.650 --> 00:12:44.620 align:start position:0% that exists inside the validator manager contract<00:12:43.070> so<00:12:43.790> the<00:12:43.940> validator<00:12:44.300> manager 00:12:44.620 --> 00:12:44.630 align:start position:0% contract so the validator manager 00:12:44.630 --> 00:12:46.330 align:start position:0% contract so the validator manager contracts<00:12:45.110> would<00:12:45.230> initially<00:12:45.500> be<00:12:45.740> the<00:12:46.040> set<00:12:46.250> of 00:12:46.330 --> 00:12:46.340 align:start position:0% contracts would initially be the set of 00:12:46.340 --> 00:12:48.100 align:start position:0% contracts would initially be the set of very<00:12:46.580> low<00:12:46.850> risk<00:12:47.030> thing<00:12:47.360> to<00:12:47.480> participate<00:12:47.960> in 00:12:48.100 --> 00:12:48.110 align:start position:0% very low risk thing to participate in 00:12:48.110 --> 00:12:50.800 align:start position:0% very low risk thing to participate in there<00:12:48.710> would<00:12:48.920> actually<00:12:49.040> not<00:12:49.580> be<00:12:49.850> a<00:12:49.880> writ<00:12:50.570> not 00:12:50.800 --> 00:12:50.810 align:start position:0% there would actually not be a writ not 00:12:50.810 --> 00:12:52.750 align:start position:0% there would actually not be a writ not even<00:12:51.200> be<00:12:51.320> a<00:12:51.350> risk<00:12:51.650> of<00:12:51.770> total<00:12:51.950> slashing<00:12:52.580> in<00:12:52.670> the 00:12:52.750 --> 00:12:52.760 align:start position:0% even be a risk of total slashing in the 00:12:52.760 --> 00:12:55.060 align:start position:0% even be a risk of total slashing in the same<00:12:52.940> way<00:12:53.090> that<00:12:53.180> there<00:12:53.330> is<00:12:53.420> in<00:12:53.540> Casper<00:12:53.990> and<00:12:54.200> the 00:12:55.060 --> 00:12:55.070 align:start position:0% same way that there is in Casper and the 00:12:55.070 --> 00:12:58.000 align:start position:0% same way that there is in Casper and the goal<00:12:55.850> would<00:12:56.060> be<00:12:56.120> to<00:12:56.240> basically<00:12:56.870> just<00:12:57.140> get<00:12:57.470> you 00:12:58.000 --> 00:12:58.010 align:start position:0% goal would be to basically just get you 00:12:58.010 --> 00:12:59.530 align:start position:0% goal would be to basically just get you know<00:12:58.100> like<00:12:58.130> a<00:12:58.280> fairly<00:12:58.640> significant<00:12:59.180> portion 00:12:59.530 --> 00:12:59.540 align:start position:0% know like a fairly significant portion 00:12:59.540 --> 00:13:01.590 align:start position:0% know like a fairly significant portion of<00:12:59.570> ether<00:12:59.900> stake<00:13:00.170> participating<00:13:00.920> in<00:13:01.040> this<00:13:01.190> and 00:13:01.590 --> 00:13:01.600 align:start position:0% of ether stake participating in this and 00:13:01.600 --> 00:13:04.120 align:start position:0% of ether stake participating in this and basically<00:13:02.600> if<00:13:03.290> you<00:13:03.650> are<00:13:03.680> part<00:13:03.980> of<00:13:04.070> the 00:13:04.120 --> 00:13:04.130 align:start position:0% basically if you are part of the 00:13:04.130 --> 00:13:05.440 align:start position:0% basically if you are part of the validator<00:13:04.490> manage<00:13:04.730> your<00:13:04.850> contracts<00:13:05.240> and<00:13:05.390> you 00:13:05.440 --> 00:13:05.450 align:start position:0% validator manage your contracts and you 00:13:05.450 --> 00:13:07.750 align:start position:0% validator manage your contracts and you just<00:13:05.630> get<00:13:05.720> assigned<00:13:06.140> randomly<00:13:06.410> the<00:13:07.220> right<00:13:07.430> to 00:13:07.750 --> 00:13:07.760 align:start position:0% just get assigned randomly the right to 00:13:07.760 --> 00:13:10.210 align:start position:0% just get assigned randomly the right to create<00:13:08.510> blocks<00:13:08.960> in<00:13:09.320> each<00:13:09.650> and<00:13:09.830> every<00:13:09.920> one<00:13:10.190> of 00:13:10.210 --> 00:13:10.220 align:start position:0% create blocks in each and every one of 00:13:10.220 --> 00:13:13.180 align:start position:0% create blocks in each and every one of these<00:13:10.400> shards<00:13:10.820> at<00:13:11.060> periodic<00:13:11.960> intervals<00:13:12.190> I 00:13:13.180 --> 00:13:13.190 align:start position:0% these shards at periodic intervals I 00:13:13.190 --> 00:13:14.680 align:start position:0% these shards at periodic intervals I should<00:13:13.760> probably<00:13:13.880> use<00:13:14.090> more<00:13:14.360> correct 00:13:14.680 --> 00:13:14.690 align:start position:0% should probably use more correct 00:13:14.690 --> 00:13:16.900 align:start position:0% should probably use more correct terminology<00:13:14.930> we<00:13:15.410> we<00:13:15.890> call<00:13:16.130> the<00:13:16.310> blocks<00:13:16.550> inside 00:13:16.900 --> 00:13:16.910 align:start position:0% terminology we we call the blocks inside 00:13:16.910 --> 00:13:18.760 align:start position:0% terminology we we call the blocks inside of<00:13:17.060> shards<00:13:17.360> collisions<00:13:17.930> so<00:13:18.440> if<00:13:18.530> you<00:13:18.620> have<00:13:18.710> a 00:13:18.760 --> 00:13:18.770 align:start position:0% of shards collisions so if you have a 00:13:18.770 --> 00:13:20.470 align:start position:0% of shards collisions so if you have a transaction<00:13:19.370> then<00:13:19.790> transactions<00:13:20.360> get 00:13:20.470 --> 00:13:20.480 align:start position:0% transaction then transactions get 00:13:20.480 --> 00:13:22.000 align:start position:0% transaction then transactions get grouped<00:13:20.720> into<00:13:20.870> collisions<00:13:21.440> and<00:13:21.620> the 00:13:22.000 --> 00:13:22.010 align:start position:0% grouped into collisions and the 00:13:22.010 --> 00:13:23.710 align:start position:0% grouped into collisions and the collation<00:13:22.370> headers 00:13:23.710 --> 00:13:23.720 align:start position:0% collation headers 00:13:23.720 --> 00:13:25.030 align:start position:0% collation headers get<00:13:23.899> put<00:13:24.139> into<00:13:24.259> the<00:13:24.410> village<00:13:24.620> analogy<00:13:24.920> tour 00:13:25.030 --> 00:13:25.040 align:start position:0% get put into the village analogy tour 00:13:25.040 --> 00:13:27.429 align:start position:0% get put into the village analogy tour manager<00:13:25.370> contracts<00:13:25.939> and<00:13:26.120> they<00:13:26.899> get<00:13:27.139> put<00:13:27.319> into 00:13:27.429 --> 00:13:27.439 align:start position:0% manager contracts and they get put into 00:13:27.439 --> 00:13:29.079 align:start position:0% manager contracts and they get put into transactions<00:13:28.069> that<00:13:28.220> get<00:13:28.370> it<00:13:28.490> get<00:13:28.670> included 00:13:29.079 --> 00:13:29.089 align:start position:0% transactions that get it get included 00:13:29.089 --> 00:13:31.480 align:start position:0% transactions that get it get included into<00:13:29.300> blocks<00:13:29.540> so<00:13:30.410> we<00:13:30.560> have<00:13:30.800> this<00:13:30.980> kind<00:13:31.160> of<00:13:31.250> two 00:13:31.480 --> 00:13:31.490 align:start position:0% into blocks so we have this kind of two 00:13:31.490 --> 00:13:33.699 align:start position:0% into blocks so we have this kind of two layer<00:13:31.670> structure<00:13:32.240> we<00:13:32.779> are<00:13:32.810> at<00:13:33.139> the<00:13:33.259> top<00:13:33.470> layer 00:13:33.699 --> 00:13:33.709 align:start position:0% layer structure we are at the top layer 00:13:33.709 --> 00:13:36.369 align:start position:0% layer structure we are at the top layer you<00:13:33.829> would<00:13:34.009> have<00:13:34.220> the<00:13:34.399> blockchain<00:13:34.610> and<00:13:35.139> you<00:13:36.139> at 00:13:36.369 --> 00:13:36.379 align:start position:0% you would have the blockchain and you at 00:13:36.379 --> 00:13:38.499 align:start position:0% you would have the blockchain and you at the<00:13:36.560> bottom<00:13:36.860> layer<00:13:37.040> you<00:13:37.339> would<00:13:37.430> have<00:13:37.730> all<00:13:38.269> of 00:13:38.499 --> 00:13:38.509 align:start position:0% the bottom layer you would have all of 00:13:38.509 --> 00:13:39.939 align:start position:0% the bottom layer you would have all of these<00:13:38.600> different<00:13:38.660> shards<00:13:39.230> and<00:13:39.529> each<00:13:39.649> shard 00:13:39.939 --> 00:13:39.949 align:start position:0% these different shards and each shard 00:13:39.949 --> 00:13:41.379 align:start position:0% these different shards and each shard would<00:13:40.160> be<00:13:40.250> like<00:13:40.459> its<00:13:40.610> own<00:13:40.759> universe<00:13:41.060> and 00:13:41.379 --> 00:13:41.389 align:start position:0% would be like its own universe and 00:13:41.389 --> 00:13:43.569 align:start position:0% would be like its own universe and connecting<00:13:42.319> the<00:13:42.439> two<00:13:42.589> universes<00:13:43.189> you<00:13:43.220> have 00:13:43.569 --> 00:13:43.579 align:start position:0% connecting the two universes you have 00:13:43.579 --> 00:13:45.730 align:start position:0% connecting the two universes you have this<00:13:43.759> validator<00:13:44.180> manager<00:13:44.569> contract<00:13:45.019> which<00:13:45.589> it 00:13:45.730 --> 00:13:45.740 align:start position:0% this validator manager contract which it 00:13:45.740 --> 00:13:47.619 align:start position:0% this validator manager contract which it forces<00:13:46.100> the<00:13:46.189> proof<00:13:46.370> of<00:13:46.430> stake<00:13:46.699> basically 00:13:47.619 --> 00:13:47.629 align:start position:0% forces the proof of stake basically 00:13:47.629 --> 00:13:49.509 align:start position:0% forces the proof of stake basically maintains<00:13:48.170> and<00:13:48.500> built<00:13:48.680> an<00:13:48.800> internal<00:13:49.339> light 00:13:49.509 --> 00:13:49.519 align:start position:0% maintains and built an internal light 00:13:49.519 --> 00:13:52.079 align:start position:0% maintains and built an internal light client<00:13:49.970> for<00:13:50.149> each<00:13:50.269> of<00:13:50.389> the<00:13:50.540> shards<00:13:50.899> and 00:13:52.079 --> 00:13:52.089 align:start position:0% client for each of the shards and 00:13:52.089 --> 00:13:54.579 align:start position:0% client for each of the shards and processes<00:13:53.089> and<00:13:53.269> facilitates<00:13:53.870> things<00:13:54.230> like 00:13:54.579 --> 00:13:54.589 align:start position:0% processes and facilitates things like 00:13:54.589 --> 00:13:56.470 align:start position:0% processes and facilitates things like you<00:13:55.069> know<00:13:55.160> I'm<00:13:55.250> moving<00:13:55.490> ether<00:13:55.970> from<00:13:56.149> the<00:13:56.329> main 00:13:56.470 --> 00:13:56.480 align:start position:0% you know I'm moving ether from the main 00:13:56.480 --> 00:13:58.030 align:start position:0% you know I'm moving ether from the main ship<00:13:56.720> from<00:13:56.930> the<00:13:56.990> main<00:13:57.199> change<00:13:57.439> of<00:13:57.560> the<00:13:57.649> shards 00:13:58.030 --> 00:13:58.040 align:start position:0% ship from the main change of the shards 00:13:58.040 --> 00:14:00.309 align:start position:0% ship from the main change of the shards and<00:13:58.220> possibly<00:13:58.819> from<00:13:59.060> one<00:13:59.750> shards<00:14:00.110> or<00:14:00.230> the 00:14:00.309 --> 00:14:00.319 align:start position:0% and possibly from one shards or the 00:14:00.319 --> 00:14:04.059 align:start position:0% and possibly from one shards or the other<00:14:01.000> so<00:14:02.000> you<00:14:02.329> can<00:14:02.689> think<00:14:03.230> of<00:14:03.439> the<00:14:03.740> kind<00:14:04.009> of 00:14:04.059 --> 00:14:04.069 align:start position:0% other so you can think of the kind of 00:14:04.069 --> 00:14:05.829 align:start position:0% other so you can think of the kind of differences<00:14:04.639> between<00:14:04.819> you<00:14:05.480> know<00:14:05.569> what<00:14:05.689> the 00:14:05.829 --> 00:14:05.839 align:start position:0% differences between you know what the 00:14:05.839 --> 00:14:08.259 align:start position:0% differences between you know what the two<00:14:05.959> systems<00:14:06.410> between<00:14:06.769> the<00:14:07.399> main<00:14:07.610> shard<00:14:07.970> world 00:14:08.259 --> 00:14:08.269 align:start position:0% two systems between the main shard world 00:14:08.269 --> 00:14:10.360 align:start position:0% two systems between the main shard world and<00:14:08.540> the<00:14:08.600> new<00:14:08.689> shard<00:14:08.990> world<00:14:09.230> so<00:14:09.470> somewhat<00:14:10.220> like 00:14:10.360 --> 00:14:10.370 align:start position:0% and the new shard world so somewhat like 00:14:10.370 --> 00:14:13.629 align:start position:0% and the new shard world so somewhat like this<00:14:10.579> right<00:14:10.879> so<00:14:11.470> scalability<00:14:12.470> so<00:14:12.980> main<00:14:13.310> chart 00:14:13.629 --> 00:14:13.639 align:start position:0% this right so scalability so main chart 00:14:13.639 --> 00:14:16.300 align:start position:0% this right so scalability so main chart is<00:14:13.819> OFC<00:14:14.360> so<00:14:14.899> see<00:14:15.290> as<00:14:15.439> the<00:14:15.560> lettering<00:14:15.920> normally 00:14:16.300 --> 00:14:16.310 align:start position:0% is OFC so see as the lettering normally 00:14:16.310 --> 00:14:19.090 align:start position:0% is OFC so see as the lettering normally used<00:14:16.670> to<00:14:16.930> refer<00:14:17.930> to<00:14:17.959> the<00:14:18.259> computational 00:14:19.090 --> 00:14:19.100 align:start position:0% used to refer to the computational 00:14:19.100 --> 00:14:21.850 align:start position:0% used to refer to the computational capacity<00:14:19.339> of<00:14:19.850> one<00:14:20.029> node<00:14:20.269> so<00:14:21.110> the<00:14:21.319> main<00:14:21.500> shard 00:14:21.850 --> 00:14:21.860 align:start position:0% capacity of one node so the main shard 00:14:21.860 --> 00:14:23.800 align:start position:0% capacity of one node so the main shard would<00:14:22.310> have<00:14:22.399> a<00:14:22.430> scalability<00:14:22.879> of<00:14:23.120> just<00:14:23.360> ofc 00:14:23.800 --> 00:14:23.810 align:start position:0% would have a scalability of just ofc 00:14:23.810 --> 00:14:25.449 align:start position:0% would have a scalability of just ofc which<00:14:24.019> is<00:14:24.139> exactly<00:14:24.529> what<00:14:24.709> it<00:14:24.740> does<00:14:24.949> now<00:14:25.129> and 00:14:25.449 --> 00:14:25.459 align:start position:0% which is exactly what it does now and 00:14:25.459 --> 00:14:27.550 align:start position:0% which is exactly what it does now and the<00:14:26.060> new<00:14:26.209> shirts<00:14:26.480> would<00:14:26.720> have<00:14:26.839> a<00:14:26.930> capacity<00:14:27.439> of 00:14:27.550 --> 00:14:27.560 align:start position:0% the new shirts would have a capacity of 00:14:27.560 --> 00:14:29.619 align:start position:0% the new shirts would have a capacity of over<00:14:27.740> C<00:14:27.949> squared<00:14:28.339> and<00:14:28.579> the<00:14:29.089> reason<00:14:29.389> for<00:14:29.509> this 00:14:29.619 --> 00:14:29.629 align:start position:0% over C squared and the reason for this 00:14:29.629 --> 00:14:32.379 align:start position:0% over C squared and the reason for this is<00:14:29.689> you<00:14:30.019> have<00:14:30.230> ofc<00:14:31.100> shards<00:14:31.579> and<00:14:31.759> each<00:14:32.059> of<00:14:32.269> the 00:14:32.379 --> 00:14:32.389 align:start position:0% is you have ofc shards and each of the 00:14:32.389 --> 00:14:34.540 align:start position:0% is you have ofc shards and each of the OFC<00:14:32.600> shards<00:14:33.079> itself<00:14:33.439> has<00:14:33.620> over<00:14:33.920> C<00:14:34.040> capacity 00:14:34.540 --> 00:14:34.550 align:start position:0% OFC shards itself has over C capacity 00:14:34.550 --> 00:14:38.079 align:start position:0% OFC shards itself has over C capacity right<00:14:35.329> so<00:14:36.550> by<00:14:37.550> the<00:14:37.610> way<00:14:37.790> if<00:14:37.910> you're<00:14:38.059> not 00:14:38.079 --> 00:14:38.089 align:start position:0% right so by the way if you're not 00:14:38.089 --> 00:14:39.970 align:start position:0% right so by the way if you're not familiar<00:14:38.420> with<00:14:38.720> Big<00:14:38.990> O<00:14:39.079> notation<00:14:39.259> just<00:14:39.829> like 00:14:39.970 --> 00:14:39.980 align:start position:0% familiar with Big O notation just like 00:14:39.980 --> 00:14:41.829 align:start position:0% familiar with Big O notation just like don't<00:14:40.189> think<00:14:40.339> about<00:14:40.579> the<00:14:40.670> O's<00:14:40.819> main<00:14:41.569> chain 00:14:41.829 --> 00:14:41.839 align:start position:0% don't think about the O's main chain 00:14:41.839 --> 00:14:43.840 align:start position:0% don't think about the O's main chain scalability<00:14:42.500> of<00:14:42.529> C<00:14:42.769> new<00:14:43.009> shard<00:14:43.279> scalability 00:14:43.840 --> 00:14:43.850 align:start position:0% scalability of C new shard scalability 00:14:43.850 --> 00:14:45.699 align:start position:0% scalability of C new shard scalability of<00:14:43.910> C<00:14:44.059> squared<00:14:44.120> because<00:14:44.959> there's<00:14:45.170> C<00:14:45.350> shards 00:14:45.699 --> 00:14:45.709 align:start position:0% of C squared because there's C shards 00:14:45.709 --> 00:14:47.199 align:start position:0% of C squared because there's C shards and<00:14:45.800> each<00:14:45.920> card<00:14:46.129> has<00:14:46.220> C<00:14:46.490> transactions<00:14:47.089> per 00:14:47.199 --> 00:14:47.209 align:start position:0% and each card has C transactions per 00:14:47.209 --> 00:14:50.379 align:start position:0% and each card has C transactions per block<00:14:47.800> consensus<00:14:48.800> algorithm<00:14:49.100> so<00:14:49.850> on<00:14:50.149> the<00:14:50.300> main 00:14:50.379 --> 00:14:50.389 align:start position:0% block consensus algorithm so on the main 00:14:50.389 --> 00:14:52.480 align:start position:0% block consensus algorithm so on the main shard<00:14:50.720> the<00:14:51.199> consensus<00:14:51.769> algorithm<00:14:52.129> is 00:14:52.480 --> 00:14:52.490 align:start position:0% shard the consensus algorithm is 00:14:52.490 --> 00:14:54.280 align:start position:0% shard the consensus algorithm is currently<00:14:52.910> proof-of-work 00:14:54.280 --> 00:14:54.290 align:start position:0% currently proof-of-work 00:14:54.290 --> 00:14:57.189 align:start position:0% currently proof-of-work in<00:14:54.529> the<00:14:54.860> very<00:14:55.089> short<00:14:56.089> to<00:14:56.240> medium<00:14:56.569> term<00:14:56.600> we<00:14:56.930> hope 00:14:57.189 --> 00:14:57.199 align:start position:0% in the very short to medium term we hope 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a paper a paper for which<00:15:05.300> was<00:15:05.629> released<00:15:05.959> on<00:15:06.170> archive<00:15:06.620> something 00:15:07.269 --> 00:15:07.279 align:start position:0% which was released on archive something 00:15:07.279 --> 00:15:09.460 align:start position:0% which was released on archive something like<00:15:07.399> 5<00:15:07.610> days<00:15:07.819> ago<00:15:08.120> and<00:15:08.360> which<00:15:08.600> is<00:15:08.720> actually<00:15:09.199> I 00:15:09.460 --> 00:15:09.470 align:start position:0% like 5 days ago and which is actually I 00:15:09.470 --> 00:15:11.319 align:start position:0% like 5 days ago and which is actually I would<00:15:09.949> say<00:15:09.980> nearing<00:15:10.610> the<00:15:10.759> kind<00:15:10.910> of<00:15:10.970> final 00:15:11.319 --> 00:15:11.329 align:start position:0% would say nearing the kind of final 00:15:11.329 --> 00:15:13.689 align:start position:0% would say nearing the kind of final stages<00:15:11.750> of<00:15:11.779> a<00:15:11.959> full<00:15:12.259> specification<00:15:13.040> and 00:15:13.689 --> 00:15:13.699 align:start position:0% stages of a full specification and 00:15:13.699 --> 00:15:15.639 align:start position:0% stages of a full specification and eventually<00:15:14.389> we<00:15:14.569> would<00:15:14.689> transition<00:15:15.230> the<00:15:15.500> main 00:15:15.639 --> 00:15:15.649 align:start position:0% eventually we would transition the main 00:15:15.649 --> 00:15:17.679 align:start position:0% eventually we would transition the main chain<00:15:15.889> consensus<00:15:16.490> into<00:15:16.910> full<00:15:17.180> proof<00:15:17.329> of<00:15:17.480> stake 00:15:17.679 --> 00:15:17.689 align:start position:0% chain consensus into full proof of stake 00:15:17.689 --> 00:15:19.900 align:start position:0% chain consensus into full proof of stake you<00:15:18.350> know<00:15:18.410> the<00:15:18.529> consensus<00:15:19.009> which<00:15:19.250> itself<00:15:19.639> is 00:15:19.900 --> 00:15:19.910 align:start position:0% you know the consensus which itself is 00:15:19.910 --> 00:15:23.699 align:start position:0% you know the consensus which itself is designs<00:15:20.480> to<00:15:20.689> be<00:15:20.809> fairly<00:15:21.199> conservative<00:15:21.860> and<00:15:22.100> so 00:15:23.699 --> 00:15:23.709 align:start position:0% designs to be fairly conservative and so 00:15:23.709 --> 00:15:26.230 align:start position:0% designs to be fairly conservative and so possible<00:15:24.709> to<00:15:24.949> implement<00:15:25.579> in<00:15:25.790> this<00:15:25.939> kind<00:15:26.149> of 00:15:26.230 --> 00:15:26.240 align:start position:0% possible to implement in this kind of 00:15:26.240 --> 00:15:28.090 align:start position:0% possible to implement in this kind of fairly<00:15:26.420> slow<00:15:26.720> and<00:15:26.870> careful<00:15:27.230> way<00:15:27.379> right<00:15:27.740> so<00:15:27.920> for 00:15:28.090 --> 00:15:28.100 align:start position:0% fairly slow and careful way right so for 00:15:28.100 --> 00:15:30.939 align:start position:0% fairly slow and careful way right so for example<00:15:28.610> the<00:15:29.120> first<00:15:29.420> part<00:15:29.839> of<00:15:30.050> the<00:15:30.470> switch<00:15:30.769> to 00:15:30.939 --> 00:15:30.949 align:start position:0% example the first part of the switch to 00:15:30.949 --> 00:15:32.980 align:start position:0% example the first part of the switch to hybrid<00:15:31.309> proof<00:15:31.459> of<00:15:31.550> stake<00:15:31.819> actually<00:15:32.660> doesn't 00:15:32.980 --> 00:15:32.990 align:start position:0% hybrid proof of stake actually doesn't 00:15:32.990 --> 00:15:35.379 align:start position:0% hybrid proof of stake actually doesn't require<00:15:33.079> hard<00:15:33.620> work<00:15:34.029> technically<00:15:35.029> it<00:15:35.120> does<00:15:35.269> I 00:15:35.379 --> 00:15:35.389 align:start position:0% require hard work technically it does I 00:15:35.389 --> 00:15:37.450 align:start position:0% require hard work technically it does I mean<00:15:35.540> it<00:15:35.630> requires<00:15:35.959> this<00:15:36.230> weird<00:15:36.620> kind<00:15:36.920> of<00:15:37.009> soft 00:15:37.450 --> 00:15:37.460 align:start position:0% mean it requires this weird kind of soft 00:15:37.460 --> 00:15:39.700 align:start position:0% mean it requires this weird kind of soft we<00:15:37.820> are<00:15:37.910> basically<00:15:38.300> it's<00:15:38.990> not<00:15:39.110> even<00:15:39.500> like<00:15:39.680> a 00:15:39.700 --> 00:15:39.710 align:start position:0% we are basically it's not even like a 00:15:39.710 --> 00:15:41.710 align:start position:0% we are basically it's not even like a real<00:15:39.980> soft<00:15:40.279> fork<00:15:40.610> instead<00:15:41.089> it's<00:15:41.240> just<00:15:41.330> an 00:15:41.710 --> 00:15:41.720 align:start position:0% real soft fork instead it's just an 00:15:41.720 --> 00:15:45.790 align:start position:0% real soft fork instead it's just an optional<00:15:42.560> change<00:15:42.980> to<00:15:43.970> the<00:15:44.660> fork<00:15:45.170> Swiss<00:15:45.440> rule 00:15:45.790 --> 00:15:45.800 align:start position:0% optional change to the fork Swiss rule 00:15:45.800 --> 00:15:47.680 align:start position:0% optional change to the fork Swiss rule that's<00:15:46.040> used<00:15:46.279> inside<00:15:46.580> of<00:15:46.640> a<00:15:46.790> client's<00:15:47.180> the 00:15:47.680 --> 00:15:47.690 align:start position:0% that's used inside of a client's the 00:15:47.690 --> 00:15:49.090 align:start position:0% that's used inside of a client's the only<00:15:48.020> thing<00:15:48.230> you<00:15:48.350> would<00:15:48.470> need<00:15:48.560> a<00:15:48.589> hard<00:15:48.830> fork 00:15:49.090 --> 00:15:49.100 align:start position:0% only thing you would need a hard fork 00:15:49.100 --> 00:15:51.820 align:start position:0% only thing you would need a hard fork for<00:15:49.370> is<00:15:49.640> when<00:15:49.880> we<00:15:50.060> want<00:15:50.330> to<00:15:50.570> basically<00:15:51.200> stop 00:15:51.820 --> 00:15:51.830 align:start position:0% for is when we want to basically stop 00:15:51.830 --> 00:15:53.260 align:start position:0% for is when we want to basically stop providing<00:15:52.399> rewards<00:15:52.550> to<00:15:52.970> proof-of-work 00:15:53.260 --> 00:15:53.270 align:start position:0% providing rewards to proof-of-work 00:15:53.270 --> 00:15:55.510 align:start position:0% providing rewards to proof-of-work miners<00:15:53.839> or<00:15:54.050> at<00:15:54.529> least<00:15:54.800> reduce<00:15:55.100> the<00:15:55.250> words<00:15:55.399> to 00:15:55.510 --> 00:15:55.520 align:start position:0% miners or at least reduce the words to 00:15:55.520 --> 00:15:56.920 align:start position:0% miners or at least reduce the words to proof-of-work<00:15:55.790> miners<00:15:56.300> and<00:15:56.510> switch<00:15:56.779> the 00:15:56.920 --> 00:15:56.930 align:start position:0% proof-of-work miners and switch the 00:15:56.930 --> 00:15:59.260 align:start position:0% proof-of-work miners and switch the rewards<00:15:57.320> to<00:15:57.500> validators<00:15:58.040> so<00:15:58.790> the<00:15:58.940> swish<00:15:59.149> - 00:15:59.260 --> 00:15:59.270 align:start position:0% rewards to validators so the swish - 00:15:59.270 --> 00:16:01.120 align:start position:0% rewards to validators so the swish - proof<00:15:59.510> steak<00:15:59.750> I'm<00:15:59.959> fairly<00:16:00.170> confident<00:16:00.680> can<00:16:00.950> be 00:16:01.120 --> 00:16:01.130 align:start position:0% proof steak I'm fairly confident can be 00:16:01.130 --> 00:16:02.800 align:start position:0% proof steak I'm fairly confident can be done<00:16:01.310> in<00:16:01.550> this<00:16:01.790> kind<00:16:02.000> of<00:16:02.089> gradual<00:16:02.540> fairly 00:16:02.800 --> 00:16:02.810 align:start position:0% done in this kind of gradual fairly 00:16:02.810 --> 00:16:05.980 align:start position:0% done in this kind of gradual fairly conservative<00:16:03.350> way<00:16:03.529> a<00:16:03.800> mean<00:16:04.610> shard<00:16:04.940> has<00:16:05.149> full 00:16:05.980 --> 00:16:05.990 align:start position:0% conservative way a mean shard has full 00:16:05.990 --> 00:16:07.720 align:start position:0% conservative way a mean shard has full security<00:16:06.350> basically<00:16:07.070> the<00:16:07.190> same<00:16:07.399> security 00:16:07.720 --> 00:16:07.730 align:start position:0% security basically the same security 00:16:07.730 --> 00:16:10.300 align:start position:0% security basically the same security guarantees<00:16:08.360> we<00:16:08.570> can<00:16:08.690> expect<00:16:09.050> to<00:16:09.140> have<00:16:09.320> now<00:16:09.529> and 00:16:10.300 --> 00:16:10.310 align:start position:0% guarantees we can expect to have now and 00:16:10.310 --> 00:16:12.090 align:start position:0% guarantees we can expect to have now and the<00:16:10.700> governance<00:16:11.180> of<00:16:11.390> the<00:16:11.540> main<00:16:11.690> shard 00:16:12.090 --> 00:16:12.100 align:start position:0% the governance of the main shard 00:16:12.100 --> 00:16:15.460 align:start position:0% the governance of the main shard basically<00:16:13.100> in<00:16:13.310> order<00:16:13.490> to<00:16:13.940> kind<00:16:14.360> of<00:16:14.540> satisfy 00:16:15.460 --> 00:16:15.470 align:start position:0% basically in order to kind of satisfy 00:16:15.470 --> 00:16:17.620 align:start position:0% basically in order to kind of satisfy the<00:16:15.529> demand<00:16:16.010> of<00:16:16.279> people<00:16:16.339> that<00:16:16.910> really<00:16:17.180> wants 00:16:17.620 --> 00:16:17.630 align:start position:0% the demand of people that really wants 00:16:17.630 --> 00:16:20.650 align:start position:0% the demand of people that really wants to<00:16:17.660> have<00:16:17.899> like<00:16:18.709> basically<00:16:19.130> stronger<00:16:19.670> stronger 00:16:20.650 --> 00:16:20.660 align:start position:0% to have like basically stronger stronger 00:16:20.660 --> 00:16:22.750 align:start position:0% to have like basically stronger stronger immutability<00:16:21.200> and<00:16:21.649> less<00:16:22.040> risk<00:16:22.339> on<00:16:22.520> the<00:16:22.610> main 00:16:22.750 --> 00:16:22.760 align:start position:0% immutability and less risk on the main 00:16:22.760 --> 00:16:25.960 align:start position:0% immutability and less risk on the main chain<00:16:23.060> we<00:16:23.690> can<00:16:23.839> you<00:16:24.140> know<00:16:24.260> we<00:16:24.410> can<00:16:24.490> have<00:16:25.490> norms 00:16:25.960 --> 00:16:25.970 align:start position:0% chain we can you know we can have norms 00:16:25.970 --> 00:16:27.100 align:start position:0% chain we can you know we can have norms of<00:16:26.120> governance<00:16:26.480> that<00:16:26.660> emphasize 00:16:27.100 --> 00:16:27.110 align:start position:0% of governance that emphasize 00:16:27.110 --> 00:16:28.900 align:start position:0% of governance that emphasize conservatism<00:16:27.770> and<00:16:28.130> strong<00:16:28.490> immutability 00:16:28.900 --> 00:16:28.910 align:start position:0% conservatism and strong immutability 00:16:28.910 --> 00:16:31.300 align:start position:0% conservatism and strong immutability more<00:16:29.300> than<00:16:29.480> today<00:16:29.720> now<00:16:30.560> what<00:16:30.860> happens<00:16:31.130> in<00:16:31.250> the 00:16:31.300 --> 00:16:31.310 align:start position:0% more than today now what happens in the 00:16:31.310 --> 00:16:34.380 align:start position:0% more than today now what happens in the new<00:16:31.430> sharts<00:16:31.850> so<00:16:32.330> scalability<00:16:33.260> o<00:16:33.290> of<00:16:33.529> c-squared 00:16:34.380 --> 00:16:34.390 align:start position:0% new sharts so scalability o of c-squared 00:16:34.390 --> 00:16:37.840 align:start position:0% new sharts so scalability o of c-squared consensus<00:16:35.390> is<00:16:35.839> this<00:16:36.589> proof<00:16:36.890> of<00:16:37.040> stake<00:16:37.339> we<00:16:37.700> are 00:16:37.840 --> 00:16:37.850 align:start position:0% consensus is this proof of stake we are 00:16:37.850 --> 00:16:39.400 align:start position:0% consensus is this proof of stake we are in<00:16:38.000> order<00:16:38.180> to<00:16:38.270> vote<00:16:38.600> in<00:16:38.779> the<00:16:38.899> proof<00:16:39.050> of<00:16:39.170> stake 00:16:39.400 --> 00:16:39.410 align:start position:0% in order to vote in the proof of stake 00:16:39.410 --> 00:16:41.500 align:start position:0% in order to vote in the proof of stake you<00:16:39.920> would<00:16:40.070> have<00:16:40.220> to<00:16:40.370> deposit<00:16:40.670> ether<00:16:41.180> into<00:16:41.330> the 00:16:41.500 --> 00:16:41.510 align:start position:0% you would have to deposit ether into the 00:16:41.510 --> 00:16:43.449 align:start position:0% you would have to deposit ether into the validator<00:16:41.900> manager<00:16:42.260> contract<00:16:42.740> and<00:16:43.220> the 00:16:43.449 --> 00:16:43.459 align:start position:0% validator manager contract and the 00:16:43.459 --> 00:16:44.920 align:start position:0% validator manager contract and the validator<00:16:43.850> manager<00:16:44.240> contracts<00:16:44.720> would 00:16:44.920 --> 00:16:44.930 align:start position:0% validator manager contracts would 00:16:44.930 --> 00:16:47.170 align:start position:0% validator manager contracts would randomly<00:16:45.350> assign<00:16:45.830> to<00:16:46.070> you<00:16:46.250> the<00:16:46.790> right<00:16:47.000> to 00:16:47.170 --> 00:16:47.180 align:start position:0% randomly assign to you the right to 00:16:47.180 --> 00:16:49.570 align:start position:0% randomly assign to you the right to create<00:16:47.390> blocks<00:16:47.810> on<00:16:47.990> all<00:16:48.110> these<00:16:48.290> charts<00:16:48.680> the 00:16:49.570 --> 00:16:49.580 align:start position:0% create blocks on all these charts the 00:16:49.580 --> 00:16:52.690 align:start position:0% create blocks on all these charts the security<00:16:50.209> would<00:16:50.810> be<00:16:50.890> fifty<00:16:51.890> percent<00:16:52.250> honest 00:16:52.690 --> 00:16:52.700 align:start position:0% security would be fifty percent honest 00:16:52.700 --> 00:16:54.699 align:start position:0% security would be fifty percent honest majority<00:16:53.240> of<00:16:53.510> the<00:16:53.810> unchained<00:16:54.230> proof<00:16:54.410> of<00:16:54.529> stake 00:16:54.699 --> 00:16:54.709 align:start position:0% majority of the unchained proof of stake 00:16:54.709 --> 00:16:59.769 align:start position:0% majority of the unchained proof of stake holders<00:16:55.070> now<00:16:55.339> and<00:16:55.959> basically<00:16:56.959> once<00:16:57.650> the<00:16:58.779> what 00:16:59.769 --> 00:16:59.779 align:start position:0% holders now and basically once the what 00:16:59.779 --> 00:17:01.690 align:start position:0% holders now and basically once the what we<00:16:59.900> wants<00:17:00.200> to<00:17:00.320> do<00:17:00.470> with<00:17:00.709> the<00:17:00.800> theory<00:17:01.040> am<00:17:01.130> 2.0<00:17:01.550> in 00:17:01.690 --> 00:17:01.700 align:start position:0% we wants to do with the theory am 2.0 in 00:17:01.700 --> 00:17:04.000 align:start position:0% we wants to do with the theory am 2.0 in shorting<00:17:02.120> solidify<00:17:02.630> enough<00:17:02.959> then<00:17:03.589> you<00:17:03.890> know 00:17:04.000 --> 00:17:04.010 align:start position:0% shorting solidify enough then you know 00:17:04.010 --> 00:17:06.280 align:start position:0% shorting solidify enough then you know eventually<00:17:04.459> it<00:17:05.360> with<00:17:05.569> the<00:17:05.660> shards<00:17:06.020> would<00:17:06.170> be 00:17:06.280 --> 00:17:06.290 align:start position:0% eventually it with the shards would be 00:17:06.290 --> 00:17:07.990 align:start position:0% eventually it with the shards would be kind<00:17:06.500> of<00:17:06.559> tightly<00:17:06.890> coupled<00:17:07.100> and<00:17:07.550> that<00:17:07.850> you 00:17:07.990 --> 00:17:08.000 align:start position:0% kind of tightly coupled and that you 00:17:08.000 --> 00:17:10.059 align:start position:0% kind of tightly coupled and that you would<00:17:08.120> have<00:17:08.380> roughly<00:17:09.380> the<00:17:09.500> same<00:17:09.679> level<00:17:09.949> of 00:17:10.059 --> 00:17:10.069 align:start position:0% would have roughly the same level of 00:17:10.069 --> 00:17:13.660 align:start position:0% would have roughly the same level of security<00:17:10.370> and<00:17:11.150> now<00:17:11.990> the<00:17:12.050> governance<00:17:12.620> for<00:17:13.610> the 00:17:13.660 --> 00:17:13.670 align:start position:0% security and now the governance for the 00:17:13.670 --> 00:17:15.970 align:start position:0% security and now the governance for the new<00:17:13.790> shards<00:17:14.240> is<00:17:14.689> basically<00:17:15.290> just<00:17:15.559> going<00:17:15.800> to<00:17:15.890> be 00:17:15.970 --> 00:17:15.980 align:start position:0% new shards is basically just going to be 00:17:15.980 --> 00:17:17.650 align:start position:0% new shards is basically just going to be on<00:17:16.250> chain<00:17:16.520> either<00:17:16.760> voting<00:17:17.179> right<00:17:17.480> so 00:17:17.650 --> 00:17:17.660 align:start position:0% on chain either voting right so 00:17:17.660 --> 00:17:20.020 align:start position:0% on chain either voting right so basically<00:17:18.050> for<00:17:18.860> these<00:17:19.069> new<00:17:19.250> shards<00:17:19.640> because 00:17:20.020 --> 00:17:20.030 align:start position:0% basically for these new shards because 00:17:20.030 --> 00:17:21.970 align:start position:0% basically for these new shards because you<00:17:20.179> have<00:17:20.360> this<00:17:20.510> proof<00:17:20.689> of<00:17:20.809> snake<00:17:21.050> we<00:17:21.589> might<00:17:21.829> as 00:17:21.970 --> 00:17:21.980 align:start position:0% you have this proof of snake we might as 00:17:21.980 --> 00:17:24.340 align:start position:0% you have this proof of snake we might as well<00:17:22.130> have<00:17:22.429> this<00:17:22.550> proof<00:17:22.760> of<00:17:22.850> snake<00:17:23.089> be<00:17:23.420> the<00:17:23.900> be 00:17:24.340 --> 00:17:24.350 align:start position:0% well have this proof of snake be the be 00:17:24.350 --> 00:17:27.610 align:start position:0% well have this proof of snake be the be used<00:17:24.679> in<00:17:25.040> order<00:17:25.280> to<00:17:25.750> basically<00:17:26.750> vote<00:17:27.110> on<00:17:27.350> what 00:17:27.610 --> 00:17:27.620 align:start position:0% used in order to basically vote on what 00:17:27.620 --> 00:17:29.230 align:start position:0% used in order to basically vote on what the<00:17:27.709> protocol<00:17:28.130> changes<00:17:28.520> are<00:17:28.730> within<00:17:29.120> this 00:17:29.230 --> 00:17:29.240 align:start position:0% the protocol changes are within this 00:17:29.240 --> 00:17:31.650 align:start position:0% the protocol changes are within this shortened<00:17:29.630> universe<00:17:29.990> right<00:17:30.350> so<00:17:30.650> basically 00:17:31.650 --> 00:17:31.660 align:start position:0% shortened universe right so basically 00:17:31.660 --> 00:17:34.540 align:start position:0% shortened universe right so basically you<00:17:32.660> know<00:17:32.780> evaluators<00:17:33.679> themselves<00:17:34.340> already 00:17:34.540 --> 00:17:34.550 align:start position:0% you know evaluators themselves already 00:17:34.550 --> 00:17:36.880 align:start position:0% you know evaluators themselves already or<00:17:35.059> are<00:17:35.630> going<00:17:35.840> to<00:17:35.990> be<00:17:36.110> the<00:17:36.260> ones<00:17:36.410> that<00:17:36.500> enforce 00:17:36.880 --> 00:17:36.890 align:start position:0% or are going to be the ones that enforce 00:17:36.890 --> 00:17:39.669 align:start position:0% or are going to be the ones that enforce the<00:17:37.040> consensus<00:17:37.490> rules<00:17:37.760> so<00:17:38.360> you<00:17:38.929> know<00:17:38.990> why<00:17:39.470> not 00:17:39.669 --> 00:17:39.679 align:start position:0% the consensus rules so you know why not 00:17:39.679 --> 00:17:42.790 align:start position:0% the consensus rules so you know why not just<00:17:39.980> have<00:17:40.610> them<00:17:40.940> be<00:17:41.179> you<00:17:41.660> know<00:17:41.750> just<00:17:41.809> the<00:17:42.620> one 00:17:42.790 --> 00:17:42.800 align:start position:0% just have them be you know just the one 00:17:42.800 --> 00:17:45.190 align:start position:0% just have them be you know just the one they<00:17:43.130> kind<00:17:43.340> of<00:17:43.400> are<00:17:43.610> the<00:17:43.760> ones<00:17:43.790> that<00:17:44.120> decide<00:17:44.900> on 00:17:45.190 --> 00:17:45.200 align:start position:0% they kind of are the ones that decide on 00:17:45.200 --> 00:17:46.570 align:start position:0% they kind of are the ones that decide on the<00:17:45.290> rules<00:17:45.470> already<00:17:45.710> so<00:17:46.130> we<00:17:46.220> might<00:17:46.400> as<00:17:46.490> well 00:17:46.570 --> 00:17:46.580 align:start position:0% the rules already so we might as well 00:17:46.580 --> 00:17:48.880 align:start position:0% the rules already so we might as well accept<00:17:46.910> this<00:17:47.120> and<00:17:47.390> we<00:17:48.140> basically<00:17:48.350> actually 00:17:48.880 --> 00:17:48.890 align:start position:0% accept this and we basically actually 00:17:48.890 --> 00:17:50.950 align:start position:0% accept this and we basically actually take<00:17:49.280> advantage<00:17:49.730> of<00:17:49.850> this<00:17:50.030> because 00:17:50.950 --> 00:17:50.960 align:start position:0% take advantage of this because 00:17:50.960 --> 00:17:52.990 align:start position:0% take advantage of this because this<00:17:51.440> kind<00:17:51.679> of<00:17:51.770> on<00:17:51.950> chain<00:17:52.220> is<00:17:52.580> voting 00:17:52.990 --> 00:17:53.000 align:start position:0% this kind of on chain is voting 00:17:53.000 --> 00:17:54.789 align:start position:0% this kind of on chain is voting governance<00:17:53.360> would<00:17:53.539> give<00:17:53.750> us<00:17:53.899> the<00:17:54.049> ability<00:17:54.140> to 00:17:54.789 --> 00:17:54.799 align:start position:0% governance would give us the ability to 00:17:54.799 --> 00:17:57.789 align:start position:0% governance would give us the ability to basically<00:17:55.669> emphasize<00:17:56.450> fast<00:17:56.870> evolution<00:17:57.230> in 00:17:57.789 --> 00:17:57.799 align:start position:0% basically emphasize fast evolution in 00:17:57.799 --> 00:18:00.430 align:start position:0% basically emphasize fast evolution in the<00:17:58.159> new<00:17:58.279> shards<00:17:58.669> initially<00:17:59.179> and<00:17:59.419> then<00:18:00.049> when 00:18:00.430 --> 00:18:00.440 align:start position:0% the new shards initially and then when 00:18:00.440 --> 00:18:02.230 align:start position:0% the new shards initially and then when we<00:18:00.590> have<00:18:00.770> this<00:18:00.950> tight<00:18:01.190> coupling<00:18:01.460> and<00:18:01.880> when 00:18:02.230 --> 00:18:02.240 align:start position:0% we have this tight coupling and when 00:18:02.240 --> 00:18:04.690 align:start position:0% we have this tight coupling and when every<00:18:03.049> clients<00:18:03.529> becomes<00:18:03.890> basically<00:18:04.370> a<00:18:04.490> fully 00:18:04.690 --> 00:18:04.700 align:start position:0% every clients becomes basically a fully 00:18:04.700 --> 00:18:06.279 align:start position:0% every clients becomes basically a fully validating<00:18:05.270> client<00:18:05.600> for<00:18:05.720> all<00:18:05.809> the<00:18:05.929> shorts 00:18:06.279 --> 00:18:06.289 align:start position:0% validating client for all the shorts 00:18:06.289 --> 00:18:08.500 align:start position:0% validating client for all the shorts then<00:18:06.980> you<00:18:07.520> know<00:18:07.640> the<00:18:07.760> governor<00:18:07.970> the<00:18:08.149> kind<00:18:08.450> of 00:18:08.500 --> 00:18:08.510 align:start position:0% then you know the governor the kind of 00:18:08.510 --> 00:18:09.549 align:start position:0% then you know the governor the kind of governance<00:18:08.840> would<00:18:09.020> become<00:18:09.260> much<00:18:09.409> more 00:18:09.549 --> 00:18:09.559 align:start position:0% governance would become much more 00:18:09.559 --> 00:18:12.279 align:start position:0% governance would become much more conservative<00:18:10.159> so<00:18:10.820> this<00:18:11.539> is<00:18:11.750> kind<00:18:12.020> of<00:18:12.110> the<00:18:12.260> the 00:18:12.279 --> 00:18:12.289 align:start position:0% conservative so this is kind of the the 00:18:12.289 --> 00:18:14.230 align:start position:0% conservative so this is kind of the the dichotomy<00:18:13.159> that<00:18:13.279> I'm<00:18:13.399> suggesting<00:18:13.580> where<00:18:14.120> we 00:18:14.230 --> 00:18:14.240 align:start position:0% dichotomy that I'm suggesting where we 00:18:14.240 --> 00:18:16.029 align:start position:0% dichotomy that I'm suggesting where we can<00:18:14.360> have<00:18:14.600> these<00:18:14.779> two<00:18:14.840> universes<00:18:15.590> at<00:18:15.710> the<00:18:15.830> same 00:18:16.029 --> 00:18:16.039 align:start position:0% can have these two universes at the same 00:18:16.039 --> 00:18:18.580 align:start position:0% can have these two universes at the same time<00:18:16.279> we<00:18:16.940> are<00:18:17.090> the<00:18:17.570> universe<00:18:17.929> on<00:18:18.110> the<00:18:18.140> left<00:18:18.409> the 00:18:18.580 --> 00:18:18.590 align:start position:0% time we are the universe on the left the 00:18:18.590 --> 00:18:22.060 align:start position:0% time we are the universe on the left the main<00:18:18.770> shard<00:18:19.070> is<00:18:19.750> just<00:18:20.750> basically<00:18:21.500> continuous 00:18:22.060 --> 00:18:22.070 align:start position:0% main shard is just basically continuous 00:18:22.070 --> 00:18:24.399 align:start position:0% main shard is just basically continuous working<00:18:22.279> as<00:18:22.520> a<00:18:22.549> theorem<00:18:23.000> we<00:18:23.419> do<00:18:23.600> not<00:18:23.809> need<00:18:24.169> to 00:18:24.399 --> 00:18:24.409 align:start position:0% working as a theorem we do not need to 00:18:24.409 --> 00:18:26.769 align:start position:0% working as a theorem we do not need to negotiate<00:18:24.620> EVM<00:18:25.580> one-point-five<00:18:26.120> negotiate 00:18:26.769 --> 00:18:26.779 align:start position:0% negotiate EVM one-point-five negotiate 00:18:26.779 --> 00:18:28.779 align:start position:0% negotiate EVM one-point-five negotiate awasum<00:18:27.350> between<00:18:28.039> seven<00:18:28.370> different<00:18:28.490> if<00:18:28.700> he 00:18:28.779 --> 00:18:28.789 align:start position:0% awasum between seven different if he 00:18:28.789 --> 00:18:31.299 align:start position:0% awasum between seven different if he implemented<00:18:29.260> and<00:18:30.260> we<00:18:30.500> can<00:18:30.679> focus<00:18:30.890> on 00:18:31.299 --> 00:18:31.309 align:start position:0% implemented and we can focus on 00:18:31.309 --> 00:18:33.399 align:start position:0% implemented and we can focus on relatively<00:18:32.210> my<00:18:32.510> older<00:18:32.809> things<00:18:33.049> that<00:18:33.289> do 00:18:33.399 --> 00:18:33.409 align:start position:0% relatively my older things that do 00:18:33.409 --> 00:18:35.620 align:start position:0% relatively my older things that do things<00:18:33.590> like<00:18:33.740> state<00:18:34.100> size<00:18:34.309> control<00:18:34.820> that<00:18:35.419> do 00:18:35.620 --> 00:18:35.630 align:start position:0% things like state size control that do 00:18:35.630 --> 00:18:39.190 align:start position:0% things like state size control that do things<00:18:35.899> like<00:18:36.850> you<00:18:37.850> know<00:18:37.970> just<00:18:38.720> improving 00:18:39.190 --> 00:18:39.200 align:start position:0% things like you know just improving 00:18:39.200 --> 00:18:41.409 align:start position:0% things like you know just improving security<00:18:39.440> possibly<00:18:40.399> possibly<00:18:40.789> improving 00:18:41.409 --> 00:18:41.419 align:start position:0% security possibly possibly improving 00:18:41.419 --> 00:18:43.659 align:start position:0% security possibly possibly improving paralyze<00:18:41.720> ability<00:18:42.110> a<00:18:42.140> bit<00:18:42.380> heavy<00:18:42.980> focus<00:18:43.309> on 00:18:43.659 --> 00:18:43.669 align:start position:0% paralyze ability a bit heavy focus on 00:18:43.669 --> 00:18:45.789 align:start position:0% paralyze ability a bit heavy focus on the<00:18:43.880> purpose<00:18:44.029> stakes<00:18:44.390> which<00:18:44.659> and<00:18:45.200> we<00:18:45.620> have 00:18:45.789 --> 00:18:45.799 align:start position:0% the purpose stakes which and we have 00:18:45.799 --> 00:18:47.500 align:start position:0% the purpose stakes which and we have this<00:18:45.919> other<00:18:46.130> new<00:18:46.490> universe<00:18:46.909> or<00:18:47.149> really<00:18:47.360> these 00:18:47.500 --> 00:18:47.510 align:start position:0% this other new universe or really these 00:18:47.510 --> 00:18:50.080 align:start position:0% this other new universe or really these new<00:18:47.690> end<00:18:47.870> universes<00:18:48.529> in<00:18:48.740> which<00:18:49.370> like 00:18:50.080 --> 00:18:50.090 align:start position:0% new end universes in which like 00:18:50.090 --> 00:18:53.529 align:start position:0% new end universes in which like basically<00:18:50.570> the<00:18:51.100> implementation<00:18:52.100> of<00:18:52.279> like<00:18:53.120> all 00:18:53.529 --> 00:18:53.539 align:start position:0% basically the implementation of like all 00:18:53.539 --> 00:18:54.940 align:start position:0% basically the implementation of like all of<00:18:53.570> these<00:18:53.840> things<00:18:54.110> that<00:18:54.350> we've<00:18:54.559> already<00:18:54.740> been 00:18:54.940 --> 00:18:54.950 align:start position:0% of these things that we've already been 00:18:54.950 --> 00:18:56.260 align:start position:0% of these things that we've already been working<00:18:55.130> on<00:18:55.399> over<00:18:55.429> the<00:18:55.700> last<00:18:55.730> one<00:18:56.029> or<00:18:56.149> two 00:18:56.260 --> 00:18:56.270 align:start position:0% working on over the last one or two 00:18:56.270 --> 00:18:58.419 align:start position:0% working on over the last one or two years<00:18:56.570> can<00:18:57.169> basically<00:18:57.380> be<00:18:57.740> rolled<00:18:58.010> out<00:18:58.159> onto 00:18:58.419 --> 00:18:58.429 align:start position:0% years can basically be rolled out onto 00:18:58.429 --> 00:19:02.560 align:start position:0% years can basically be rolled out onto the<00:18:58.640> main<00:18:58.789> net<00:18:59.029> much<00:18:59.600> much<00:18:59.779> faster<00:19:00.850> so<00:19:01.850> here's 00:19:02.560 --> 00:19:02.570 align:start position:0% the main net much much faster so here's 00:19:02.570 --> 00:19:03.970 align:start position:0% the main net much much faster so here's what<00:19:02.779> an<00:19:02.870> implementation<00:19:03.470> roadmap<00:19:03.830> might 00:19:03.970 --> 00:19:03.980 align:start position:0% what an implementation roadmap might 00:19:03.980 --> 00:19:05.919 align:start position:0% what an implementation roadmap might look<00:19:04.130> like<00:19:04.340> right<00:19:04.580> so<00:19:04.840> shorting<00:19:05.840> row 00:19:05.919 --> 00:19:05.929 align:start position:0% look like right so shorting row 00:19:05.929 --> 00:19:07.539 align:start position:0% look like right so shorting row basically<00:19:06.440> step<00:19:06.740> one<00:19:06.980> is<00:19:07.190> you<00:19:07.429> would 00:19:07.539 --> 00:19:07.549 align:start position:0% basically step one is you would 00:19:07.549 --> 00:19:09.639 align:start position:0% basically step one is you would implement<00:19:07.760> this<00:19:08.480> kind<00:19:08.539> of<00:19:08.750> shorting<00:19:09.200> universe 00:19:09.639 --> 00:19:09.649 align:start position:0% implement this kind of shorting universe 00:19:09.649 --> 00:19:13.000 align:start position:0% implement this kind of shorting universe as<00:19:09.890> a<00:19:10.279> proof<00:19:10.490> of<00:19:10.580> stake<00:19:10.820> sidechain<00:19:11.299> and<00:19:12.010> you 00:19:13.000 --> 00:19:13.010 align:start position:0% as a proof of stake sidechain and you 00:19:13.010 --> 00:19:14.710 align:start position:0% as a proof of stake sidechain and you know<00:19:13.100> in<00:19:13.340> approval<00:19:13.700> states<00:19:13.909> I<00:19:14.120> chain<00:19:14.360> what<00:19:14.600> in 00:19:14.710 --> 00:19:14.720 align:start position:0% know in approval states I chain what in 00:19:14.720 --> 00:19:16.630 align:start position:0% know in approval states I chain what in each<00:19:14.840> chart<00:19:15.200> you<00:19:15.440> would<00:19:15.559> have<00:19:15.770> coalition's<00:19:16.429> in 00:19:16.630 --> 00:19:16.640 align:start position:0% each chart you would have coalition's in 00:19:16.640 --> 00:19:18.399 align:start position:0% each chart you would have coalition's in the<00:19:17.090> coalition<00:19:17.299> headers<00:19:17.779> would<00:19:17.960> be<00:19:18.020> verified 00:19:18.399 --> 00:19:18.409 align:start position:0% the coalition headers would be verified 00:19:18.409 --> 00:19:20.110 align:start position:0% the coalition headers would be verified and<00:19:18.559> processed<00:19:19.010> by<00:19:19.100> this<00:19:19.279> on<00:19:19.640> main<00:19:19.880> chain 00:19:20.110 --> 00:19:20.120 align:start position:0% and processed by this on main chain 00:19:20.120 --> 00:19:22.180 align:start position:0% and processed by this on main chain validator<00:19:20.570> manager<00:19:20.960> contract<00:19:21.440> block 00:19:22.180 --> 00:19:22.190 align:start position:0% validator manager contract block 00:19:22.190 --> 00:19:23.919 align:start position:0% validator manager contract block creation<00:19:22.669> rights<00:19:22.909> are<00:19:23.059> assigned<00:19:23.330> by<00:19:23.539> a<00:19:23.570> simple 00:19:23.919 --> 00:19:23.929 align:start position:0% creation rights are assigned by a simple 00:19:23.929 --> 00:19:26.529 align:start position:0% creation rights are assigned by a simple proof<00:19:24.110> of<00:19:24.200> stake<00:19:24.470> in<00:19:24.679> the<00:19:24.799> VM<00:19:25.010> see<00:19:25.539> clients 00:19:26.529 --> 00:19:26.539 align:start position:0% proof of stake in the VM see clients 00:19:26.539 --> 00:19:28.419 align:start position:0% proof of stake in the VM see clients would<00:19:26.929> just<00:19:27.110> get<00:19:27.260> randomly<00:19:27.830> assigns<00:19:28.190> the 00:19:28.419 --> 00:19:28.429 align:start position:0% would just get randomly assigns the 00:19:28.429 --> 00:19:29.980 align:start position:0% would just get randomly assigns the right<00:19:28.610> to<00:19:28.760> create<00:19:29.029> blocks<00:19:29.330> and<00:19:29.600> randomly 00:19:29.980 --> 00:19:29.990 align:start position:0% right to create blocks and randomly 00:19:29.990 --> 00:19:32.769 align:start position:0% right to create blocks and randomly shuffle<00:19:30.350> between<00:19:30.470> shards<00:19:31.100> and<00:19:31.549> in<00:19:32.360> the<00:19:32.570> first 00:19:32.769 --> 00:19:32.779 align:start position:0% shuffle between shards and in the first 00:19:32.779 --> 00:19:34.029 align:start position:0% shuffle between shards and in the first step<00:19:33.049> you<00:19:33.169> could<00:19:33.289> have<00:19:33.470> one<00:19:33.679> way<00:19:33.830> each 00:19:34.029 --> 00:19:34.039 align:start position:0% step you could have one way each 00:19:34.039 --> 00:19:35.919 align:start position:0% step you could have one way each convertibility<00:19:34.549> in<00:19:34.909> the<00:19:35.360> second<00:19:35.720> stage<00:19:35.899> you 00:19:35.919 --> 00:19:35.929 align:start position:0% convertibility in the second stage you 00:19:35.929 --> 00:19:37.810 align:start position:0% convertibility in the second stage you could<00:19:36.260> make<00:19:36.409> the<00:19:36.590> if<00:19:36.770> convertibility<00:19:37.279> two-way 00:19:37.810 --> 00:19:37.820 align:start position:0% could make the if convertibility two-way 00:19:37.820 --> 00:19:42.039 align:start position:0% could make the if convertibility two-way now<00:19:38.720> this<00:19:39.140> is<00:19:39.440> what<00:19:40.340> a<00:19:40.520> node<00:19:40.909> for<00:19:41.390> the<00:19:41.630> etherium 00:19:42.039 --> 00:19:42.049 align:start position:0% now this is what a node for the etherium 00:19:42.049 --> 00:19:44.139 align:start position:0% now this is what a node for the etherium shorted<00:19:42.409> network<00:19:42.679> might<00:19:42.919> look<00:19:43.070> like<00:19:43.130> right<00:19:43.880> so 00:19:44.139 --> 00:19:44.149 align:start position:0% shorted network might look like right so 00:19:44.149 --> 00:19:46.240 align:start position:0% shorted network might look like right so you<00:19:44.659> already<00:19:44.809> have<00:19:45.200> the<00:19:45.409> existing<00:19:45.860> aetherium 00:19:46.240 --> 00:19:46.250 align:start position:0% you already have the existing aetherium 00:19:46.250 --> 00:19:47.919 align:start position:0% you already have the existing aetherium notes<00:19:46.460> that<00:19:47.029> talk<00:19:47.299> to<00:19:47.450> the<00:19:47.539> existing 00:19:47.919 --> 00:19:47.929 align:start position:0% notes that talk to the existing 00:19:47.929 --> 00:19:50.080 align:start position:0% notes that talk to the existing aetherium<00:19:48.289> network<00:19:48.649> everything<00:19:49.610> on<00:19:49.760> the<00:19:49.880> Left 00:19:50.080 --> 00:19:50.090 align:start position:0% aetherium network everything on the Left 00:19:50.090 --> 00:19:52.360 align:start position:0% aetherium network everything on the Left does<00:19:50.630> not<00:19:50.809> need<00:19:51.049> to<00:19:51.200> be<00:19:51.320> changed<00:19:51.350> one<00:19:51.980> single 00:19:52.360 --> 00:19:52.370 align:start position:0% does not need to be changed one single 00:19:52.370 --> 00:19:55.450 align:start position:0% does not need to be changed one single bit<00:19:52.779> what<00:19:53.779> you<00:19:53.899> have<00:19:54.080> on<00:19:54.230> the<00:19:54.350> right<00:19:54.380> is<00:19:54.919> you 00:19:55.450 --> 00:19:55.460 align:start position:0% bit what you have on the right is you 00:19:55.460 --> 00:19:57.700 align:start position:0% bit what you have on the right is you could<00:19:55.640> have<00:19:55.820> a<00:19:56.029> shorter<00:19:56.390> chain<00:19:56.600> node<00:19:56.809> nor<00:19:57.529> did 00:19:57.700 --> 00:19:57.710 align:start position:0% could have a shorter chain node nor did 00:19:57.710 --> 00:19:59.310 align:start position:0% could have a shorter chain node nor did she<00:19:57.740> know<00:19:57.919> it<00:19:58.100> would<00:19:58.370> be<00:19:58.460> responsible<00:19:58.909> for 00:19:59.310 --> 00:19:59.320 align:start position:0% she know it would be responsible for 00:19:59.320 --> 00:20:02.350 align:start position:0% she know it would be responsible for basically<00:20:00.320> broadcasting<00:20:01.250> full<00:20:01.549> collations 00:20:02.350 --> 00:20:02.360 align:start position:0% basically broadcasting full collations 00:20:02.360 --> 00:20:04.330 align:start position:0% basically broadcasting full collations right<00:20:02.750> so<00:20:02.899> collation<00:20:03.289> headers 00:20:04.330 --> 00:20:04.340 align:start position:0% right so collation headers 00:20:04.340 --> 00:20:05.590 align:start position:0% right so collation headers would<00:20:04.460> go<00:20:04.580> into<00:20:04.760> the<00:20:04.909> validator<00:20:05.240> manager 00:20:05.590 --> 00:20:05.600 align:start position:0% would go into the validator manager 00:20:05.600 --> 00:20:08.470 align:start position:0% would go into the validator manager contracts<00:20:06.049> full<00:20:06.830> collations<00:20:07.580> would<00:20:08.090> only<00:20:08.299> be 00:20:08.470 --> 00:20:08.480 align:start position:0% contracts full collations would only be 00:20:08.480 --> 00:20:10.000 align:start position:0% contracts full collations would only be broadcasted<00:20:09.169> in<00:20:09.320> the<00:20:09.440> shortage<00:20:09.830> chain 00:20:10.000 --> 00:20:10.010 align:start position:0% broadcasted in the shortage chain 00:20:10.010 --> 00:20:13.090 align:start position:0% broadcasted in the shortage chain network<00:20:10.510> between<00:20:11.510> all<00:20:12.140> of<00:20:12.590> the<00:20:12.710> nodes<00:20:12.890> that 00:20:13.090 --> 00:20:13.100 align:start position:0% network between all of the nodes that 00:20:13.100 --> 00:20:14.740 align:start position:0% network between all of the nodes that are<00:20:13.190> participating<00:20:13.490> in<00:20:13.909> the<00:20:14.029> shorting<00:20:14.360> system 00:20:14.740 --> 00:20:14.750 align:start position:0% are participating in the shorting system 00:20:14.750 --> 00:20:18.130 align:start position:0% are participating in the shorting system so<00:20:16.059> shorter<00:20:17.059> chain<00:20:17.299> node<00:20:17.539> would<00:20:17.720> be<00:20:17.779> written 00:20:18.130 --> 00:20:18.140 align:start position:0% so shorter chain node would be written 00:20:18.140 --> 00:20:20.919 align:start position:0% so shorter chain node would be written in<00:20:18.320> Python<00:20:18.860> initially<00:20:19.400> and<00:20:19.669> it<00:20:20.570> could<00:20:20.809> be 00:20:20.919 --> 00:20:20.929 align:start position:0% in Python initially and it could be 00:20:20.929 --> 00:20:22.750 align:start position:0% in Python initially and it could be designed<00:20:21.320> in<00:20:21.620> such<00:20:21.799> a<00:20:21.860> way<00:20:22.070> that<00:20:22.100> it<00:20:22.400> can<00:20:22.520> talk 00:20:22.750 --> 00:20:22.760 align:start position:0% designed in such a way that it can talk 00:20:22.760 --> 00:20:25.960 align:start position:0% designed in such a way that it can talk to<00:20:22.970> any<00:20:23.179> aetherium<00:20:23.809> node<00:20:23.990> by<00:20:24.260> RPC<00:20:24.830> now<00:20:25.640> if<00:20:25.820> we 00:20:25.960 --> 00:20:25.970 align:start position:0% to any aetherium node by RPC now if we 00:20:25.970 --> 00:20:27.340 align:start position:0% to any aetherium node by RPC now if we want<00:20:26.150> fast<00:20:26.360> evolution<00:20:26.960> we<00:20:27.080> could<00:20:27.230> have 00:20:27.340 --> 00:20:27.350 align:start position:0% want fast evolution we could have 00:20:27.350 --> 00:20:29.169 align:start position:0% want fast evolution we could have basically<00:20:27.919> one<00:20:28.190> or<00:20:28.220> two<00:20:28.490> clients<00:20:28.760> for<00:20:29.090> the 00:20:29.169 --> 00:20:29.179 align:start position:0% basically one or two clients for the 00:20:29.179 --> 00:20:30.789 align:start position:0% basically one or two clients for the further<00:20:29.390> shorter<00:20:29.750> chain<00:20:29.929> node<00:20:30.140> initially<00:20:30.350> and 00:20:30.789 --> 00:20:30.799 align:start position:0% further shorter chain node initially and 00:20:30.799 --> 00:20:32.919 align:start position:0% further shorter chain node initially and then<00:20:31.279> over<00:20:31.669> time<00:20:31.880> you<00:20:32.120> know<00:20:32.210> a<00:20:32.240> ramp<00:20:32.570> it<00:20:32.690> up<00:20:32.750> to 00:20:32.919 --> 00:20:32.929 align:start position:0% then over time you know a ramp it up to 00:20:32.929 --> 00:20:34.659 align:start position:0% then over time you know a ramp it up to the<00:20:33.020> full<00:20:33.169> seven<00:20:33.529> as<00:20:33.710> some<00:20:33.980> more<00:20:34.100> teams<00:20:34.309> become 00:20:34.659 --> 00:20:34.669 align:start position:0% the full seven as some more teams become 00:20:34.669 --> 00:20:37.269 align:start position:0% the full seven as some more teams become ready<00:20:34.880> so<00:20:35.659> you<00:20:36.380> know<00:20:36.440> basically<00:20:37.010> you<00:20:37.190> would 00:20:37.269 --> 00:20:37.279 align:start position:0% ready so you know basically you would 00:20:37.279 --> 00:20:39.760 align:start position:0% ready so you know basically you would have<00:20:37.460> this<00:20:37.610> kind<00:20:37.850> of<00:20:37.940> theory<00:20:38.630> in<00:20:39.230> a<00:20:39.320> kind<00:20:39.679> of 00:20:39.760 --> 00:20:39.770 align:start position:0% have this kind of theory in a kind of 00:20:39.770 --> 00:20:42.159 align:start position:0% have this kind of theory in a kind of partial<00:20:40.250> split<00:20:40.640> between<00:20:40.880> what<00:20:41.690> happens<00:20:42.049> on 00:20:42.159 --> 00:20:42.169 align:start position:0% partial split between what happens on 00:20:42.169 --> 00:20:44.049 align:start position:0% partial split between what happens on the<00:20:42.260> etherium<00:20:42.649> side<00:20:42.860> and<00:20:43.159> what<00:20:43.520> happens<00:20:43.880> in 00:20:44.049 --> 00:20:44.059 align:start position:0% the etherium side and what happens in 00:20:44.059 --> 00:20:46.810 align:start position:0% the etherium side and what happens in these<00:20:44.450> in<00:20:44.870> the<00:20:45.289> shorter<00:20:45.679> networks<00:20:46.070> where<00:20:46.429> you 00:20:46.810 --> 00:20:46.820 align:start position:0% these in the shorter networks where you 00:20:46.820 --> 00:20:48.070 align:start position:0% these in the shorter networks where you know<00:20:46.909> basically<00:20:47.299> you<00:20:47.450> would<00:20:47.539> really<00:20:47.750> have<00:20:48.049> a 00:20:48.070 --> 00:20:48.080 align:start position:0% know basically you would really have a 00:20:48.080 --> 00:20:50.470 align:start position:0% know basically you would really have a short<00:20:48.559> network<00:20:48.890> for<00:20:49.309> basically<00:20:50.210> every<00:20:50.450> single 00:20:50.470 --> 00:20:50.480 align:start position:0% short network for basically every single 00:20:50.480 --> 00:20:54.010 align:start position:0% short network for basically every single shard<00:20:50.990> right<00:20:51.529> so<00:20:52.279> after<00:20:53.240> this<00:20:53.659> you<00:20:53.720> had<00:20:53.990> a 00:20:54.010 --> 00:20:54.020 align:start position:0% shard right so after this you had a 00:20:54.020 --> 00:20:56.230 align:start position:0% shard right so after this you had a two-way<00:20:54.380> communicator<00:20:55.070> ability<00:20:55.640> you<00:20:56.090> would 00:20:56.230 --> 00:20:56.240 align:start position:0% two-way communicator ability you would 00:20:56.240 --> 00:20:58.240 align:start position:0% two-way communicator ability you would move<00:20:56.570> the<00:20:56.809> collation<00:20:57.110> headers<00:20:57.620> from<00:20:57.799> the<00:20:57.890> vm 00:20:58.240 --> 00:20:58.250 align:start position:0% move the collation headers from the vm 00:20:58.250 --> 00:21:00.909 align:start position:0% move the collation headers from the vm sia<00:20:58.580> into<00:20:59.179> let's<00:20:59.840> say<00:20:59.960> being<00:21:00.409> maintained<00:21:00.890> a 00:21:00.909 --> 00:21:00.919 align:start position:0% sia into let's say being maintained a 00:21:00.919 --> 00:21:02.649 align:start position:0% sia into let's say being maintained a theory<00:21:01.190> among<00:21:01.429> calls<00:21:01.669> and<00:21:01.940> then<00:21:02.330> the<00:21:02.419> step 00:21:02.649 --> 00:21:02.659 align:start position:0% theory among calls and then the step 00:21:02.659 --> 00:21:04.149 align:start position:0% theory among calls and then the step four<00:21:02.929> would<00:21:03.110> be<00:21:03.140> tight<00:21:03.470> coupling<00:21:03.710> so<00:21:04.039> what 00:21:04.149 --> 00:21:04.159 align:start position:0% four would be tight coupling so what 00:21:04.159 --> 00:21:06.279 align:start position:0% four would be tight coupling so what slight<00:21:04.309> coupling<00:21:04.700> basically<00:21:05.120> means<00:21:05.360> if<00:21:05.690> you 00:21:06.279 --> 00:21:06.289 align:start position:0% slight coupling basically means if you 00:21:06.289 --> 00:21:10.000 align:start position:0% slight coupling basically means if you have<00:21:06.590> a<00:21:06.950> block<00:21:07.580> in<00:21:07.789> the<00:21:07.880> main<00:21:08.149> a<00:21:08.620> block<00:21:09.620> in<00:21:09.890> the 00:21:10.000 --> 00:21:10.010 align:start position:0% have a block in the main a block in the 00:21:10.010 --> 00:21:12.130 align:start position:0% have a block in the main a block in the main<00:21:10.190> chain<00:21:10.460> that<00:21:11.029> contains<00:21:11.570> a<00:21:11.870> collation 00:21:12.130 --> 00:21:12.140 align:start position:0% main chain that contains a collation 00:21:12.140 --> 00:21:14.919 align:start position:0% main chain that contains a collation header<00:21:12.679> which<00:21:12.919> is<00:21:12.950> invalid<00:21:13.549> then<00:21:14.240> the<00:21:14.630> entire 00:21:14.919 --> 00:21:14.929 align:start position:0% header which is invalid then the entire 00:21:14.929 --> 00:21:17.500 align:start position:0% header which is invalid then the entire maintain<00:21:15.470> block<00:21:15.770> is<00:21:15.919> invalid<00:21:16.370> so<00:21:16.940> invalidity 00:21:17.500 --> 00:21:17.510 align:start position:0% maintain block is invalid so invalidity 00:21:17.510 --> 00:21:21.880 align:start position:0% maintain block is invalid so invalidity on<00:21:17.929> the<00:21:18.710> show<00:21:18.919> on<00:21:19.669> the<00:21:19.970> short<00:21:20.240> side<00:21:20.770> will<00:21:21.770> be 00:21:21.880 --> 00:21:21.890 align:start position:0% on the show on the short side will be 00:21:21.890 --> 00:21:23.980 align:start position:0% on the show on the short side will be able<00:21:22.070> to<00:21:22.340> cause<00:21:22.640> invalidity<00:21:23.299> on<00:21:23.659> the<00:21:23.840> main 00:21:23.980 --> 00:21:23.990 align:start position:0% able to cause invalidity on the main 00:21:23.990 --> 00:21:26.080 align:start position:0% able to cause invalidity on the main chain<00:21:24.200> side<00:21:24.409> and<00:21:24.799> this<00:21:25.460> would<00:21:25.700> be<00:21:25.880> basically 00:21:26.080 --> 00:21:26.090 align:start position:0% chain side and this would be basically 00:21:26.090 --> 00:21:28.720 align:start position:0% chain side and this would be basically when<00:21:26.779> the<00:21:27.350> main<00:21:27.559> chain<00:21:27.799> and<00:21:28.070> the<00:21:28.159> shards<00:21:28.549> would 00:21:28.720 --> 00:21:28.730 align:start position:0% when the main chain and the shards would 00:21:28.730 --> 00:21:30.399 align:start position:0% when the main chain and the shards would both<00:21:28.909> switch<00:21:29.270> into<00:21:29.659> this<00:21:29.809> kind<00:21:30.049> of<00:21:30.110> tighter 00:21:30.399 --> 00:21:30.409 align:start position:0% both switch into this kind of tighter 00:21:30.409 --> 00:21:33.279 align:start position:0% both switch into this kind of tighter secure<00:21:30.799> tighter<00:21:31.669> security<00:21:31.909> mode<00:21:32.390> and<00:21:32.990> stage 00:21:33.279 --> 00:21:33.289 align:start position:0% secure tighter security mode and stage 00:21:33.289 --> 00:21:35.169 align:start position:0% secure tighter security mode and stage four<00:21:33.559> is<00:21:33.590> something<00:21:34.039> that<00:21:34.250> theoretically 00:21:35.169 --> 00:21:35.179 align:start position:0% four is something that theoretically 00:21:35.179 --> 00:21:36.639 align:start position:0% four is something that theoretically could<00:21:35.390> happen<00:21:35.720> later<00:21:35.929> ideally<00:21:36.500> it<00:21:36.620> should 00:21:36.639 --> 00:21:36.649 align:start position:0% could happen later ideally it should 00:21:36.649 --> 00:21:39.430 align:start position:0% could happen later ideally it should happen<00:21:37.159> basically<00:21:37.909> when<00:21:38.480> things<00:21:39.169> on<00:21:39.350> the 00:21:39.430 --> 00:21:39.440 align:start position:0% happen basically when things on the 00:21:39.440 --> 00:21:41.139 align:start position:0% happen basically when things on the shorting<00:21:39.799> side<00:21:40.010> are<00:21:40.250> actually<00:21:40.700> reasonably 00:21:41.139 --> 00:21:41.149 align:start position:0% shorting side are actually reasonably 00:21:41.149 --> 00:21:45.370 align:start position:0% shorting side are actually reasonably stabilized<00:21:42.610> so<00:21:43.610> remember<00:21:44.390> the<00:21:44.840> shards<00:21:45.289> that 00:21:45.370 --> 00:21:45.380 align:start position:0% stabilized so remember the shards that 00:21:45.380 --> 00:21:47.860 align:start position:0% stabilized so remember the shards that I'm<00:21:45.559> suggesting<00:21:45.770> or<00:21:46.340> creating<00:21:47.149> new<00:21:47.179> address 00:21:47.860 --> 00:21:47.870 align:start position:0% I'm suggesting or creating new address 00:21:47.870 --> 00:21:49.899 align:start position:0% I'm suggesting or creating new address space<00:21:48.110> they<00:21:48.590> are<00:21:48.710> not<00:21:48.950> affecting<00:21:49.490> existing 00:21:49.899 --> 00:21:49.909 align:start position:0% space they are not affecting existing 00:21:49.909 --> 00:21:52.060 align:start position:0% space they are not affecting existing address<00:21:50.240> space<00:21:50.450> this<00:21:51.200> gives<00:21:51.440> us<00:21:51.620> a<00:21:51.710> unique 00:21:52.060 --> 00:21:52.070 align:start position:0% address space this gives us a unique 00:21:52.070 --> 00:21:54.639 align:start position:0% address space this gives us a unique opportunity<00:21:52.490> to<00:21:53.270> make<00:21:53.450> many<00:21:53.779> very<00:21:54.140> important 00:21:54.639 --> 00:21:54.649 align:start position:0% opportunity to make many very important 00:21:54.649 --> 00:21:56.799 align:start position:0% opportunity to make many very important many<00:21:54.919> efficiency<00:21:55.520> improving<00:21:55.850> but<00:21:56.480> backwards 00:21:56.799 --> 00:21:56.809 align:start position:0% many efficiency improving but backwards 00:21:56.809 --> 00:21:59.049 align:start position:0% many efficiency improving but backwards incompatible<00:21:57.230> changes<00:21:57.980> to<00:21:58.580> the<00:21:58.700> etherium 00:21:59.049 --> 00:21:59.059 align:start position:0% incompatible changes to the etherium 00:21:59.059 --> 00:22:01.240 align:start position:0% incompatible changes to the etherium protocol<00:21:59.480> so<00:22:00.260> what<00:22:00.529> kind<00:22:00.710> of<00:22:00.770> changes<00:22:01.100> do<00:22:01.220> we 00:22:01.240 --> 00:22:01.250 align:start position:0% protocol so what kind of changes do we 00:22:01.250 --> 00:22:03.190 align:start position:0% protocol so what kind of changes do we want<00:22:01.460> to<00:22:01.549> make<00:22:01.669> well<00:22:02.090> we<00:22:02.600> can<00:22:02.779> just<00:22:02.809> list 00:22:03.190 --> 00:22:03.200 align:start position:0% want to make well we can just list 00:22:03.200 --> 00:22:04.720 align:start position:0% want to make well we can just list through<00:22:03.409> a<00:22:03.440> few<00:22:03.679> right<00:22:04.010> so<00:22:04.220> number<00:22:04.580> one 00:22:04.720 --> 00:22:04.730 align:start position:0% through a few right so number one 00:22:04.730 --> 00:22:06.909 align:start position:0% through a few right so number one changing<00:22:05.659> Merkle<00:22:05.990> trees<00:22:06.289> from<00:22:06.500> hexa 00:22:06.909 --> 00:22:06.919 align:start position:0% changing Merkle trees from hexa 00:22:06.919 --> 00:22:09.190 align:start position:0% changing Merkle trees from hexa retreat's<00:22:07.279> to<00:22:07.370> binary<00:22:07.580> trees<00:22:08.000> this<00:22:08.840> is<00:22:09.140> a 00:22:09.190 --> 00:22:09.200 align:start position:0% retreat's to binary trees this is a 00:22:09.200 --> 00:22:10.960 align:start position:0% retreat's to binary trees this is a no-brainer<00:22:09.470> it<00:22:09.950> makes<00:22:10.130> the<00:22:10.279> more<00:22:10.429> cobras<00:22:10.730> four 00:22:10.960 --> 00:22:10.970 align:start position:0% no-brainer it makes the more cobras four 00:22:10.970 --> 00:22:13.299 align:start position:0% no-brainer it makes the more cobras four times<00:22:11.210> shorter<00:22:11.890> accounts<00:22:12.890> teach<00:22:13.070> me 00:22:13.299 --> 00:22:13.309 align:start position:0% times shorter accounts teach me 00:22:13.309 --> 00:22:16.480 align:start position:0% times shorter accounts teach me redesigns<00:22:13.789> so<00:22:14.419> you<00:22:15.080> might<00:22:15.260> want<00:22:15.530> to<00:22:15.649> get<00:22:16.309> rid 00:22:16.480 --> 00:22:16.490 align:start position:0% redesigns so you might want to get rid 00:22:16.490 --> 00:22:18.159 align:start position:0% redesigns so you might want to get rid of<00:22:16.549> contract<00:22:17.059> storage<00:22:17.360> trees<00:22:17.659> you<00:22:17.870> might 00:22:18.159 --> 00:22:18.169 align:start position:0% of contract storage trees you might 00:22:18.169 --> 00:22:20.289 align:start position:0% of contract storage trees you might I have<00:22:18.499> my<00:22:18.830> multi-level<00:22:19.519> Nesta<00:22:19.820> trees<00:22:20.090> you 00:22:20.289 --> 00:22:20.299 align:start position:0% I have my multi-level Nesta trees you 00:22:20.299 --> 00:22:21.340 align:start position:0% I have my multi-level Nesta trees you might<00:22:20.450> want<00:22:20.629> to<00:22:20.659> have<00:22:20.809> a<00:22:20.840> different<00:22:21.169> account 00:22:21.340 --> 00:22:21.350 align:start position:0% might want to have a different account 00:22:21.350 --> 00:22:24.249 align:start position:0% might want to have a different account system<00:22:22.149> there<00:22:23.149> these<00:22:23.629> are<00:22:23.690> things<00:22:24.019> that<00:22:24.080> we 00:22:24.249 --> 00:22:24.259 align:start position:0% system there these are things that we 00:22:24.259 --> 00:22:25.749 align:start position:0% system there these are things that we can<00:22:24.379> brainstorm<00:22:24.649> these<00:22:25.100> are<00:22:25.249> things<00:22:25.460> that<00:22:25.580> you 00:22:25.749 --> 00:22:25.759 align:start position:0% can brainstorm these are things that you 00:22:25.759 --> 00:22:26.680 align:start position:0% can brainstorm these are things that you know<00:22:25.850> what<00:22:25.940> we<00:22:26.090> can<00:22:26.239> think<00:22:26.359> about<00:22:26.480> an 00:22:26.680 --> 00:22:26.690 align:start position:0% know what we can think about an 00:22:26.690 --> 00:22:30.310 align:start position:0% know what we can think about an optimized<00:22:27.549> EVM<00:22:28.549> upgrades<00:22:28.940> so<00:22:29.690> basically<00:22:30.139> you 00:22:30.310 --> 00:22:30.320 align:start position:0% optimized EVM upgrades so basically you 00:22:30.320 --> 00:22:32.200 align:start position:0% optimized EVM upgrades so basically you know<00:22:30.440> can<00:22:30.710> we<00:22:30.739> make<00:22:31.039> the<00:22:31.190> EVM<00:22:31.609> efficient 00:22:32.200 --> 00:22:32.210 align:start position:0% know can we make the EVM efficient 00:22:32.210 --> 00:22:34.599 align:start position:0% know can we make the EVM efficient enough<00:22:32.539> that<00:22:33.139> precompile<00:22:33.950> are<00:22:34.220> no<00:22:34.340> longer 00:22:34.599 --> 00:22:34.609 align:start position:0% enough that precompile are no longer 00:22:34.609 --> 00:22:37.299 align:start position:0% enough that precompile are no longer necessary<00:22:35.090> it<00:22:35.749> seems<00:22:35.809> like<00:22:36.590> it's<00:22:36.830> very<00:22:37.070> it's 00:22:37.299 --> 00:22:37.309 align:start position:0% necessary it seems like it's very it's 00:22:37.309 --> 00:22:39.399 align:start position:0% necessary it seems like it's very it's very<00:22:37.399> likely<00:22:37.789> that<00:22:37.909> we<00:22:38.059> can<00:22:38.149> so<00:22:39.019> in<00:22:39.289> the 00:22:39.399 --> 00:22:39.409 align:start position:0% very likely that we can so in the 00:22:39.409 --> 00:22:40.899 align:start position:0% very likely that we can so in the etherium<00:22:39.739> community<00:22:40.190> we<00:22:40.340> have<00:22:40.549> had<00:22:40.789> these 00:22:40.899 --> 00:22:40.909 align:start position:0% etherium community we have had these 00:22:40.909 --> 00:22:44.019 align:start position:0% etherium community we have had these kind<00:22:41.239> of<00:22:41.299> two<00:22:41.509> paths<00:22:41.869> for<00:22:42.429> optimizing<00:22:43.429> the<00:22:43.669> EVM 00:22:44.019 --> 00:22:44.029 align:start position:0% kind of two paths for optimizing the EVM 00:22:44.029 --> 00:22:46.299 align:start position:0% kind of two paths for optimizing the EVM where<00:22:44.450> one<00:22:45.109> of<00:22:45.139> them<00:22:45.379> is<00:22:45.409> the<00:22:45.710> second<00:22:46.039> of<00:22:46.129> Greg 00:22:46.299 --> 00:22:46.309 align:start position:0% where one of them is the second of Greg 00:22:46.309 --> 00:22:48.639 align:start position:0% where one of them is the second of Greg Colvin's<00:22:46.700> approach<00:22:46.970> of<00:22:47.179> EVM<00:22:47.509> 1.5<00:22:48.080> which<00:22:48.409> is 00:22:48.639 --> 00:22:48.649 align:start position:0% Colvin's approach of EVM 1.5 which is 00:22:48.649 --> 00:22:51.099 align:start position:0% Colvin's approach of EVM 1.5 which is more<00:22:49.249> moderate<00:22:49.669> upgrades<00:22:50.450> and<00:22:50.629> additions<00:22:51.019> to 00:22:51.099 --> 00:22:51.109 align:start position:0% more moderate upgrades and additions to 00:22:51.109 --> 00:22:53.409 align:start position:0% more moderate upgrades and additions to the<00:22:51.230> existing<00:22:51.710> EVM<00:22:52.009> and<00:22:52.279> the<00:22:52.700> second<00:22:53.090> one<00:22:53.210> is 00:22:53.409 --> 00:22:53.419 align:start position:0% the existing EVM and the second one is 00:22:53.419 --> 00:22:54.940 align:start position:0% the existing EVM and the second one is this<00:22:53.659> kind<00:22:53.899> of<00:22:53.960> false<00:22:54.200> key<00:22:54.379> or<00:22:54.470> replacement 00:22:54.940 --> 00:22:54.950 align:start position:0% this kind of false key or replacement 00:22:54.950 --> 00:22:55.690 align:start position:0% this kind of false key or replacement with<00:22:55.039> you<00:22:55.190> awesome 00:22:55.690 --> 00:22:55.700 align:start position:0% with you awesome 00:22:55.700 --> 00:22:58.720 align:start position:0% with you awesome well<00:22:56.269> basically<00:22:57.169> the<00:22:57.710> idea<00:22:58.129> would<00:22:58.249> be<00:22:58.399> let's 00:22:58.720 --> 00:22:58.730 align:start position:0% well basically the idea would be let's 00:22:58.730 --> 00:23:00.970 align:start position:0% well basically the idea would be let's work<00:22:59.509> together<00:22:59.720> let's<00:23:00.139> come<00:23:00.409> up<00:23:00.529> with<00:23:00.739> you 00:23:00.970 --> 00:23:00.980 align:start position:0% work together let's come up with you 00:23:00.980 --> 00:23:03.249 align:start position:0% work together let's come up with you know<00:23:01.039> what<00:23:01.399> what<00:23:02.239> combination<00:23:02.840> of<00:23:02.929> these<00:23:03.049> two 00:23:03.249 --> 00:23:03.259 align:start position:0% know what what combination of these two 00:23:03.259 --> 00:23:05.590 align:start position:0% know what what combination of these two models<00:23:03.440> seems<00:23:03.889> most<00:23:04.159> reasonable<00:23:04.700> and<00:23:04.970> let's 00:23:05.590 --> 00:23:05.600 align:start position:0% models seems most reasonable and let's 00:23:05.600 --> 00:23:08.139 align:start position:0% models seems most reasonable and let's just<00:23:05.779> immediately<00:23:06.409> apply<00:23:06.710> it<00:23:06.769> as<00:23:07.039> the<00:23:07.879> only 00:23:08.139 --> 00:23:08.149 align:start position:0% just immediately apply it as the only 00:23:08.149 --> 00:23:10.930 align:start position:0% just immediately apply it as the only EVM<00:23:08.690> available<00:23:09.259> in<00:23:09.409> the<00:23:09.499> shards<00:23:09.739> and<00:23:10.070> so<00:23:10.730> this 00:23:10.930 --> 00:23:10.940 align:start position:0% EVM available in the shards and so this 00:23:10.940 --> 00:23:12.639 align:start position:0% EVM available in the shards and so this way<00:23:11.149> you<00:23:11.210> know<00:23:11.450> what<00:23:11.539> you'd<00:23:11.659> have<00:23:11.840> much<00:23:12.440> more 00:23:12.639 --> 00:23:12.649 align:start position:0% way you know what you'd have much more 00:23:12.649 --> 00:23:14.619 align:start position:0% way you know what you'd have much more efficiency<00:23:12.940> without<00:23:13.940> having<00:23:14.239> to<00:23:14.330> worry<00:23:14.539> about 00:23:14.619 --> 00:23:14.629 align:start position:0% efficiency without having to worry about 00:23:14.629 --> 00:23:16.859 align:start position:0% efficiency without having to worry about as<00:23:15.080> many<00:23:15.320> backwards<00:23:15.739> compatibility<00:23:16.190> issues 00:23:16.859 --> 00:23:16.869 align:start position:0% as many backwards compatibility issues 00:23:16.869 --> 00:23:19.539 align:start position:0% as many backwards compatibility issues paralyze<00:23:17.869> ability<00:23:18.259> so<00:23:18.710> there<00:23:18.919> are<00:23:19.100> fairly 00:23:19.539 --> 00:23:19.549 align:start position:0% paralyze ability so there are fairly 00:23:19.549 --> 00:23:21.519 align:start position:0% paralyze ability so there are fairly simple<00:23:19.940> aetherium<00:23:20.570> upgrades<00:23:20.929> that<00:23:21.109> we<00:23:21.200> can<00:23:21.379> do 00:23:21.519 --> 00:23:21.529 align:start position:0% simple aetherium upgrades that we can do 00:23:21.529 --> 00:23:24.279 align:start position:0% simple aetherium upgrades that we can do so<00:23:22.070> AIP<00:23:22.429> 6:48<00:23:23.179> is<00:23:23.299> one<00:23:23.480> example<00:23:23.659> there's<00:23:24.109> also 00:23:24.279 --> 00:23:24.289 align:start position:0% so AIP 6:48 is one example there's also 00:23:24.289 --> 00:23:26.019 align:start position:0% so AIP 6:48 is one example there's also a<00:23:24.409> shorting<00:23:24.830> EIP<00:23:25.190> which<00:23:25.369> has<00:23:25.519> a<00:23:25.549> stricter 00:23:26.019 --> 00:23:26.029 align:start position:0% a shorting EIP which has a stricter 00:23:26.029 --> 00:23:28.599 align:start position:0% a shorting EIP which has a stricter version<00:23:26.059> of<00:23:26.419> VI<00:23:26.539> b6<00:23:26.899> 48<00:23:27.289> which<00:23:27.830> basically<00:23:28.249> lets 00:23:28.599 --> 00:23:28.609 align:start position:0% version of VI b6 48 which basically lets 00:23:28.609 --> 00:23:30.940 align:start position:0% version of VI b6 48 which basically lets you<00:23:28.730> execute<00:23:29.600> aetherium<00:23:30.259> transactions<00:23:30.859> in 00:23:30.940 --> 00:23:30.950 align:start position:0% you execute aetherium transactions in 00:23:30.950 --> 00:23:33.220 align:start position:0% you execute aetherium transactions in parallel<00:23:31.309> if<00:23:31.549> you<00:23:32.090> can<00:23:32.269> do<00:23:32.419> that<00:23:32.659> then<00:23:33.200> we 00:23:33.220 --> 00:23:33.230 align:start position:0% parallel if you can do that then we 00:23:33.230 --> 00:23:35.080 align:start position:0% parallel if you can do that then we basically<00:23:33.859> have<00:23:34.220> you<00:23:34.460> know<00:23:34.549> what<00:23:34.700> if<00:23:34.879> we 00:23:35.080 --> 00:23:35.090 align:start position:0% basically have you know what if we 00:23:35.090 --> 00:23:37.210 align:start position:0% basically have you know what if we really<00:23:35.330> if<00:23:35.480> we<00:23:35.629> want<00:23:35.929> it<00:23:36.109> kind<00:23:36.710> of<00:23:36.830> unlimited 00:23:37.210 --> 00:23:37.220 align:start position:0% really if we want it kind of unlimited 00:23:37.220 --> 00:23:39.430 align:start position:0% really if we want it kind of unlimited access<00:23:37.580> to<00:23:37.879> the<00:23:38.149> kind<00:23:38.539> of<00:23:38.600> big<00:23:38.779> walk<00:23:38.989> scaling 00:23:39.430 --> 00:23:39.440 align:start position:0% access to the kind of big walk scaling 00:23:39.440 --> 00:23:41.320 align:start position:0% access to the kind of big walk scaling route<00:23:39.590> right<00:23:39.859> so<00:23:40.070> if<00:23:40.249> we<00:23:40.399> if<00:23:40.669> we<00:23:40.700> have<00:23:40.940> paralyze 00:23:41.320 --> 00:23:41.330 align:start position:0% route right so if we if we have paralyze 00:23:41.330 --> 00:23:43.299 align:start position:0% route right so if we if we have paralyze ability<00:23:41.779> if<00:23:42.230> we<00:23:42.470> wants<00:23:42.769> to<00:23:42.889> we<00:23:42.980> could<00:23:43.159> always 00:23:43.299 --> 00:23:43.309 align:start position:0% ability if we wants to we could always 00:23:43.309 --> 00:23:45.759 align:start position:0% ability if we wants to we could always make<00:23:43.580> the<00:23:43.700> blocks<00:23:43.909> bigger<00:23:44.210> and<00:23:44.539> all<00:23:45.470> that 00:23:45.759 --> 00:23:45.769 align:start position:0% make the blocks bigger and all that 00:23:45.769 --> 00:23:47.169 align:start position:0% make the blocks bigger and all that would<00:23:45.889> happen<00:23:46.249> is<00:23:46.460> that<00:23:46.639> the<00:23:46.820> kind<00:23:47.090> of 00:23:47.169 --> 00:23:47.179 align:start position:0% would happen is that the kind of 00:23:47.179 --> 00:23:48.700 align:start position:0% would happen is that the kind of resource<00:23:47.570> requirements<00:23:48.169> of<00:23:48.259> running<00:23:48.499> on<00:23:48.590> node 00:23:48.700 --> 00:23:48.710 align:start position:0% resource requirements of running on node 00:23:48.710 --> 00:23:50.590 align:start position:0% resource requirements of running on node would<00:23:48.950> just<00:23:49.129> be<00:23:49.220> a<00:23:49.249> bit<00:23:49.429> higher<00:23:49.639> but<00:23:49.669> if<00:23:50.389> you 00:23:50.590 --> 00:23:50.600 align:start position:0% would just be a bit higher but if you 00:23:50.600 --> 00:23:51.879 align:start position:0% would just be a bit higher but if you have<00:23:50.720> enough<00:23:50.960> course<00:23:51.230> you<00:23:51.440> would<00:23:51.559> still<00:23:51.769> be 00:23:51.879 --> 00:23:51.889 align:start position:0% have enough course you would still be 00:23:51.889 --> 00:23:53.320 align:start position:0% have enough course you would still be able<00:23:51.980> to<00:23:52.100> process<00:23:52.369> a<00:23:52.609> block<00:23:52.789> fairly<00:23:53.149> quickly 00:23:53.320 --> 00:23:53.330 align:start position:0% able to process a block fairly quickly 00:23:53.330 --> 00:23:56.409 align:start position:0% able to process a block fairly quickly so<00:23:54.080> like<00:23:54.980> paralyze<00:23:55.549> ability<00:23:55.970> is<00:23:56.059> something 00:23:56.409 --> 00:23:56.419 align:start position:0% so like paralyze ability is something 00:23:56.419 --> 00:23:59.080 align:start position:0% so like paralyze ability is something that<00:23:56.809> if<00:23:57.350> we<00:23:57.710> tried<00:23:58.070> to<00:23:58.100> add<00:23:58.489> it<00:23:58.519> to<00:23:58.700> the 00:23:59.080 --> 00:23:59.090 align:start position:0% that if we tried to add it to the 00:23:59.090 --> 00:24:01.060 align:start position:0% that if we tried to add it to the existing<00:23:59.539> aetherium<00:23:59.989> I<00:24:00.200> mean<00:24:00.559> it<00:24:00.769> would 00:24:01.060 --> 00:24:01.070 align:start position:0% existing aetherium I mean it would 00:24:01.070 --> 00:24:03.340 align:start position:0% existing aetherium I mean it would require<00:24:01.309> some<00:24:01.879> fairly<00:24:02.119> deep<00:24:02.450> changes<00:24:02.929> but<00:24:03.169> if 00:24:03.340 --> 00:24:03.350 align:start position:0% require some fairly deep changes but if 00:24:03.350 --> 00:24:05.349 align:start position:0% require some fairly deep changes but if we<00:24:03.499> can<00:24:03.679> make<00:24:03.889> this<00:24:04.369> kind<00:24:04.639> of<00:24:04.700> new<00:24:04.909> system 00:24:05.349 --> 00:24:05.359 align:start position:0% we can make this kind of new system 00:24:05.359 --> 00:24:06.729 align:start position:0% we can make this kind of new system where<00:24:05.509> we<00:24:05.690> have<00:24:05.720> paralyze<00:24:06.230> ability<00:24:06.619> right 00:24:06.729 --> 00:24:06.739 align:start position:0% where we have paralyze ability right 00:24:06.739 --> 00:24:09.119 align:start position:0% where we have paralyze ability right from<00:24:06.919> the<00:24:07.039> start<00:24:07.220> then<00:24:07.759> it<00:24:07.879> might<00:24:07.999> be<00:24:08.029> easier 00:24:09.119 --> 00:24:09.129 align:start position:0% from the start then it might be easier 00:24:09.129 --> 00:24:13.239 align:start position:0% from the start then it might be easier stateless<00:24:10.129> clients<00:24:11.109> so<00:24:12.109> stateless<00:24:12.649> clients 00:24:13.239 --> 00:24:13.249 align:start position:0% stateless clients so stateless clients 00:24:13.249 --> 00:24:17.320 align:start position:0% stateless clients so stateless clients or<00:24:13.989> yeah<00:24:15.309> the<00:24:16.309> topic<00:24:16.789> that<00:24:16.820> I've<00:24:17.090> written 00:24:17.320 --> 00:24:17.330 align:start position:0% or yeah the topic that I've written 00:24:17.330 --> 00:24:19.330 align:start position:0% or yeah the topic that I've written about<00:24:17.539> slightly<00:24:18.230> but<00:24:18.499> they're<00:24:18.679> a<00:24:18.710> topic<00:24:19.129> that 00:24:19.330 --> 00:24:19.340 align:start position:0% about slightly but they're a topic that 00:24:19.340 --> 00:24:21.340 align:start position:0% about slightly but they're a topic that you<00:24:19.669> might<00:24:19.700> end<00:24:20.090> up<00:24:20.210> hearing<00:24:20.659> about<00:24:20.869> more<00:24:21.169> and 00:24:21.340 --> 00:24:21.350 align:start position:0% you might end up hearing about more and 00:24:21.350 --> 00:24:24.460 align:start position:0% you might end up hearing about more and more<00:24:21.559> over<00:24:22.070> the<00:24:22.309> next<00:24:22.519> few<00:24:22.970> year<00:24:23.210> while<00:24:24.049> or<00:24:24.259> so 00:24:24.460 --> 00:24:24.470 align:start position:0% more over the next few year while or so 00:24:24.470 --> 00:24:27.159 align:start position:0% more over the next few year while or so the<00:24:25.279> basic<00:24:25.609> idea<00:24:25.879> behind<00:24:25.999> a<00:24:26.330> stateless<00:24:26.659> client 00:24:27.159 --> 00:24:27.169 align:start position:0% the basic idea behind a stateless client 00:24:27.169 --> 00:24:30.099 align:start position:0% the basic idea behind a stateless client is<00:24:27.409> this<00:24:27.739> right<00:24:28.460> so<00:24:29.029> I<00:24:29.359> mean<00:24:29.659> as<00:24:29.809> you<00:24:29.840> might 00:24:30.099 --> 00:24:30.109 align:start position:0% is this right so I mean as you might 00:24:30.109 --> 00:24:31.960 align:start position:0% is this right so I mean as you might have<00:24:30.200> seen<00:24:30.349> from<00:24:30.529> the<00:24:30.649> diagram<00:24:31.099> state 00:24:31.960 --> 00:24:31.970 align:start position:0% have seen from the diagram state 00:24:31.970 --> 00:24:33.250 align:start position:0% have seen from the diagram state clients<00:24:32.450> have<00:24:32.600> something<00:24:32.930> to<00:24:33.020> do<00:24:33.110> with<00:24:33.140> a 00:24:33.250 --> 00:24:33.260 align:start position:0% clients have something to do with a 00:24:33.260 --> 00:24:35.620 align:start position:0% clients have something to do with a Merkel<00:24:33.590> tree<00:24:33.940> everyone<00:24:34.940> bow<00:24:35.090> down<00:24:35.300> to<00:24:35.420> Ralph 00:24:35.620 --> 00:24:35.630 align:start position:0% Merkel tree everyone bow down to Ralph 00:24:35.630 --> 00:24:43.840 align:start position:0% Merkel tree everyone bow down to Ralph Merkle<00:24:35.900> again<00:24:38.830> yeah<00:24:39.830> okay<00:24:40.730> so<00:24:42.460> it<00:24:43.460> census 00:24:43.840 --> 00:24:43.850 align:start position:0% Merkle again yeah okay so it census 00:24:43.850 --> 00:24:46.540 align:start position:0% Merkle again yeah okay so it census notes<00:24:44.240> do<00:24:44.750> not<00:24:44.930> hold<00:24:45.260> the<00:24:45.620> entire<00:24:45.890> state 00:24:46.540 --> 00:24:46.550 align:start position:0% notes do not hold the entire state 00:24:46.550 --> 00:24:48.550 align:start position:0% notes do not hold the entire state right<00:24:46.970> so<00:24:47.090> consensus<00:24:47.660> no<00:24:47.840> it's<00:24:48.050> so<00:24:48.230> basically 00:24:48.550 --> 00:24:48.560 align:start position:0% right so consensus no it's so basically 00:24:48.560 --> 00:24:51.100 align:start position:0% right so consensus no it's so basically full<00:24:48.860> notes<00:24:49.070> miners<00:24:49.550> anyone<00:24:50.000> do<00:24:50.510> not<00:24:50.660> need<00:24:50.960> to 00:24:51.100 --> 00:24:51.110 align:start position:0% full notes miners anyone do not need to 00:24:51.110 --> 00:24:53.770 align:start position:0% full notes miners anyone do not need to hold<00:24:51.410> the<00:24:51.890> entire<00:24:52.190> state<00:24:52.580> they<00:24:53.300> only<00:24:53.480> need<00:24:53.750> to 00:24:53.770 --> 00:24:53.780 align:start position:0% hold the entire state they only need to 00:24:53.780 --> 00:24:57.070 align:start position:0% hold the entire state they only need to hold<00:24:54.140> the<00:24:54.530> root<00:24:54.860> hash<00:24:55.100> of<00:24:55.280> the<00:24:55.400> state<00:24:56.080> people 00:24:57.070 --> 00:24:57.080 align:start position:0% hold the root hash of the state people 00:24:57.080 --> 00:24:58.960 align:start position:0% hold the root hash of the state people who<00:24:57.170> want<00:24:57.380> to<00:24:57.440> send<00:24:57.680> transactions<00:24:58.400> would 00:24:58.960 --> 00:24:58.970 align:start position:0% who want to send transactions would 00:24:58.970 --> 00:25:01.150 align:start position:0% who want to send transactions would apply<00:24:59.330> attach<00:24:59.930> Merkel<00:25:00.470> branches<00:25:00.890> so 00:25:01.150 --> 00:25:01.160 align:start position:0% apply attach Merkel branches so 00:25:01.160 --> 00:25:04.090 align:start position:0% apply attach Merkel branches so witnesses<00:25:01.700> basically<00:25:02.540> proving<00:25:03.140> dismiss<00:25:03.800> the 00:25:04.090 --> 00:25:04.100 align:start position:0% witnesses basically proving dismiss the 00:25:04.100 --> 00:25:06.040 align:start position:0% witnesses basically proving dismiss the correctness<00:25:04.610> of<00:25:04.880> the<00:25:05.000> specific<00:25:05.450> portions<00:25:05.930> of 00:25:06.040 --> 00:25:06.050 align:start position:0% correctness of the specific portions of 00:25:06.050 --> 00:25:08.140 align:start position:0% correctness of the specific portions of the<00:25:06.200> state<00:25:06.380> that<00:25:06.500> you<00:25:06.560> want<00:25:06.620> to<00:25:06.830> access<00:25:06.970> so<00:25:07.970> if 00:25:08.140 --> 00:25:08.150 align:start position:0% the state that you want to access so if 00:25:08.150 --> 00:25:10.270 align:start position:0% the state that you want to access so if you<00:25:08.300> have<00:25:08.420> a<00:25:08.450> state<00:25:08.720> bird<00:25:08.930> and<00:25:09.110> if<00:25:09.710> I<00:25:09.980> want<00:25:10.220> to 00:25:10.270 --> 00:25:10.280 align:start position:0% you have a state bird and if I want to 00:25:10.280 --> 00:25:12.610 align:start position:0% you have a state bird and if I want to send<00:25:10.430> a<00:25:10.460> transaction<00:25:11.060> that<00:25:11.120> sends<00:25:11.630> ten<00:25:12.290> coins 00:25:12.610 --> 00:25:12.620 align:start position:0% send a transaction that sends ten coins 00:25:12.620 --> 00:25:14.680 align:start position:0% send a transaction that sends ten coins from<00:25:12.980> address<00:25:13.310> a<00:25:13.400> to<00:25:13.460> address<00:25:13.820> via<00:25:14.000> I<00:25:14.270> would 00:25:14.680 --> 00:25:14.690 align:start position:0% from address a to address via I would 00:25:14.690 --> 00:25:16.450 align:start position:0% from address a to address via I would provide<00:25:14.990> to<00:25:15.290> Merkel<00:25:15.620> branches<00:25:15.980> that<00:25:16.130> prove 00:25:16.450 --> 00:25:16.460 align:start position:0% provide to Merkel branches that prove 00:25:16.460 --> 00:25:18.700 align:start position:0% provide to Merkel branches that prove the<00:25:16.760> existing<00:25:17.540> balances<00:25:18.050> of<00:25:18.260> address<00:25:18.560> a<00:25:18.680> and 00:25:18.700 --> 00:25:18.710 align:start position:0% the existing balances of address a and 00:25:18.710 --> 00:25:21.610 align:start position:0% the existing balances of address a and address<00:25:19.130> B<00:25:19.340> then<00:25:20.300> the<00:25:20.870> transaction<00:25:21.470> the 00:25:21.610 --> 00:25:21.620 align:start position:0% address B then the transaction the 00:25:21.620 --> 00:25:23.260 align:start position:0% address B then the transaction the transaction<00:25:21.980> the<00:25:22.490> blocks<00:25:22.730> would<00:25:22.940> get<00:25:23.060> passed 00:25:23.260 --> 00:25:23.270 align:start position:0% transaction the blocks would get passed 00:25:23.270 --> 00:25:25.990 align:start position:0% transaction the blocks would get passed around<00:25:23.450> was<00:25:23.720> the<00:25:23.810> witness<00:25:24.170> and<00:25:24.670> like<00:25:25.670> that's 00:25:25.990 --> 00:25:26.000 align:start position:0% around was the witness and like that's 00:25:26.000 --> 00:25:28.990 align:start position:0% around was the witness and like that's all<00:25:26.330> the<00:25:26.480> information<00:25:27.140> that<00:25:27.350> a<00:25:27.620> node<00:25:27.980> needs<00:25:28.340> in 00:25:28.990 --> 00:25:29.000 align:start position:0% all the information that a node needs in 00:25:29.000 --> 00:25:30.880 align:start position:0% all the information that a node needs in order<00:25:29.300> to<00:25:29.420> execute<00:25:29.780> the<00:25:30.050> block<00:25:30.260> execute<00:25:30.770> every 00:25:30.880 --> 00:25:30.890 align:start position:0% order to execute the block execute every 00:25:30.890 --> 00:25:32.740 align:start position:0% order to execute the block execute every transaction<00:25:31.220> in<00:25:31.490> the<00:25:31.580> block<00:25:31.760> and<00:25:32.000> figure<00:25:32.720> out 00:25:32.740 --> 00:25:32.750 align:start position:0% transaction in the block and figure out 00:25:32.750 --> 00:25:34.510 align:start position:0% transaction in the block and figure out what<00:25:33.110> the<00:25:33.260> new<00:25:33.410> state<00:25:33.710> brute<00:25:33.920> is<00:25:34.070> going<00:25:34.280> to<00:25:34.400> be 00:25:34.510 --> 00:25:34.520 align:start position:0% what the new state brute is going to be 00:25:34.520 --> 00:25:37.150 align:start position:0% what the new state brute is going to be and<00:25:35.110> what<00:25:36.110> the<00:25:36.200> new<00:25:36.320> Morricone<00:25:36.650> branches<00:25:36.980> are 00:25:37.150 --> 00:25:37.160 align:start position:0% and what the new Morricone branches are 00:25:37.160 --> 00:25:38.950 align:start position:0% and what the new Morricone branches are and<00:25:37.430> what<00:25:37.700> then<00:25:37.850> you<00:25:37.970> what<00:25:38.300> the<00:25:38.420> portions<00:25:38.810> of 00:25:38.950 --> 00:25:38.960 align:start position:0% and what then you what the portions of 00:25:38.960 --> 00:25:41.020 align:start position:0% and what then you what the portions of the<00:25:39.050> state<00:25:39.260> are<00:25:39.500> that<00:25:40.040> got<00:25:40.190> modified<00:25:40.640> by<00:25:40.850> that 00:25:41.020 --> 00:25:41.030 align:start position:0% the state are that got modified by that 00:25:41.030 --> 00:25:44.920 align:start position:0% the state are that got modified by that transaction<00:25:42.250> so<00:25:43.250> the<00:25:43.850> idea<00:25:44.150> here<00:25:44.240> is<00:25:44.540> that<00:25:44.780> we 00:25:44.920 --> 00:25:44.930 align:start position:0% transaction so the idea here is that we 00:25:44.930 --> 00:25:47.470 align:start position:0% transaction so the idea here is that we can<00:25:45.080> substitute<00:25:45.560> each<00:25:46.280> individual<00:25:47.000> instance 00:25:47.470 --> 00:25:47.480 align:start position:0% can substitute each individual instance 00:25:47.480 --> 00:25:50.560 align:start position:0% can substitute each individual instance of<00:25:47.660> a<00:25:47.720> disc<00:25:47.930> read<00:25:48.520> so<00:25:49.520> basically<00:25:49.970> each 00:25:50.560 --> 00:25:50.570 align:start position:0% of a disc read so basically each 00:25:50.570 --> 00:25:52.660 align:start position:0% of a disc read so basically each individual<00:25:51.080> instance<00:25:51.500> of<00:25:51.650> reading<00:25:52.070> like<00:25:52.460> a 00:25:52.660 --> 00:25:52.670 align:start position:0% individual instance of reading like a 00:25:52.670 --> 00:25:54.660 align:start position:0% individual instance of reading like a storage<00:25:53.150> key<00:25:53.450> or<00:25:53.570> an<00:25:53.660> account<00:25:53.960> from<00:25:54.230> disk 00:25:54.660 --> 00:25:54.670 align:start position:0% storage key or an account from disk 00:25:54.670 --> 00:25:57.430 align:start position:0% storage key or an account from disk which<00:25:55.670> takes<00:25:56.060> I<00:25:56.330> mean<00:25:56.570> possibly<00:25:56.870> something 00:25:57.430 --> 00:25:57.440 align:start position:0% which takes I mean possibly something 00:25:57.440 --> 00:26:00.070 align:start position:0% which takes I mean possibly something like<00:25:57.560> a<00:25:57.590> millisecond<00:25:58.220> with<00:25:58.790> a<00:25:59.150> belt<00:25:59.840> one 00:26:00.070 --> 00:26:00.080 align:start position:0% like a millisecond with a belt one 00:26:00.080 --> 00:26:01.810 align:start position:0% like a millisecond with a belt one kilobyte<00:26:00.470> of<00:26:00.620> bandwidth<00:26:01.100> assuming<00:26:01.700> we 00:26:01.810 --> 00:26:01.820 align:start position:0% kilobyte of bandwidth assuming we 00:26:01.820 --> 00:26:03.370 align:start position:0% kilobyte of bandwidth assuming we optimize<00:26:02.180> the<00:26:02.210> merkel<00:26:02.600> Shmi<00:26:02.810> and<00:26:02.960> assuming<00:26:03.290> a 00:26:03.370 --> 00:26:03.380 align:start position:0% optimize the merkel Shmi and assuming a 00:26:03.380 --> 00:26:05.140 align:start position:0% optimize the merkel Shmi and assuming a billion<00:26:03.680> accounts<00:26:04.070> if<00:26:04.340> we<00:26:04.760> go<00:26:04.880> up<00:26:05.000> to<00:26:05.030> a 00:26:05.140 --> 00:26:05.150 align:start position:0% billion accounts if we go up to a 00:26:05.150 --> 00:26:07.330 align:start position:0% billion accounts if we go up to a trillion<00:26:05.510> accounts<00:26:06.050> then<00:26:06.650> we'll<00:26:06.890> only<00:26:07.040> need 00:26:07.330 --> 00:26:07.340 align:start position:0% trillion accounts then we'll only need 00:26:07.340 --> 00:26:12.070 align:start position:0% trillion accounts then we'll only need shock<00:26:07.970> or<00:26:08.500> 1300<00:26:09.500> bytes<00:26:09.680> of<00:26:09.830> bandwidth<00:26:10.330> now<00:26:11.330> the 00:26:12.070 --> 00:26:12.080 align:start position:0% shock or 1300 bytes of bandwidth now the 00:26:12.080 --> 00:26:14.710 align:start position:0% shock or 1300 bytes of bandwidth now the benefits<00:26:13.070> of<00:26:13.250> this<00:26:13.370> are<00:26:13.610> that<00:26:13.670> first<00:26:14.450> of<00:26:14.630> all 00:26:14.710 --> 00:26:14.720 align:start position:0% benefits of this are that first of all 00:26:14.720 --> 00:26:16.840 align:start position:0% benefits of this are that first of all it<00:26:15.110> makes<00:26:15.380> it<00:26:15.560> much<00:26:15.770> easier<00:26:16.100> to<00:26:16.310> reshuffle 00:26:16.840 --> 00:26:16.850 align:start position:0% it makes it much easier to reshuffle 00:26:16.850 --> 00:26:19.060 align:start position:0% it makes it much easier to reshuffle validators<00:26:17.510> when<00:26:17.750> sharding<00:26:18.140> basically<00:26:18.980> the 00:26:19.060 --> 00:26:19.070 align:start position:0% validators when sharding basically the 00:26:19.070 --> 00:26:20.830 align:start position:0% validators when sharding basically the idea<00:26:19.340> is<00:26:19.610> that<00:26:19.640> if<00:26:19.910> you<00:26:19.940> get<00:26:20.150> if<00:26:20.360> you<00:26:20.450> have<00:26:20.540> a<00:26:20.630> if 00:26:20.830 --> 00:26:20.840 align:start position:0% idea is that if you get if you have a if 00:26:20.840 --> 00:26:22.030 align:start position:0% idea is that if you get if you have a if you're<00:26:21.020> in<00:26:21.230> a<00:26:21.320> stateless<00:26:21.650> client 00:26:22.030 --> 00:26:22.040 align:start position:0% you're in a stateless client 00:26:22.040 --> 00:26:24.040 align:start position:0% you're in a stateless client architecture<00:26:22.190> and<00:26:23.180> you<00:26:23.540> yet<00:26:23.840> suddenly 00:26:24.040 --> 00:26:24.050 align:start position:0% architecture and you yet suddenly 00:26:24.050 --> 00:26:26.320 align:start position:0% architecture and you yet suddenly reassigns<00:26:24.740> you<00:26:24.950> a<00:26:25.010> new<00:26:25.130> shard<00:26:25.430> you<00:26:26.060> do<00:26:26.210> not 00:26:26.320 --> 00:26:26.330 align:start position:0% reassigns you a new shard you do not 00:26:26.330 --> 00:26:27.850 align:start position:0% reassigns you a new shard you do not have<00:26:26.570> to<00:26:26.720> download<00:26:26.840> the<00:26:27.230> state<00:26:27.440> of<00:26:27.530> the<00:26:27.620> shard 00:26:27.850 --> 00:26:27.860 align:start position:0% have to download the state of the shard 00:26:27.860 --> 00:26:30.520 align:start position:0% have to download the state of the shard in<00:26:28.490> a<00:26:28.640> stateless<00:26:29.000> client<00:26:29.390> paradigm<00:26:29.780> fast 00:26:30.520 --> 00:26:30.530 align:start position:0% in a stateless client paradigm fast 00:26:30.530 --> 00:26:33.210 align:start position:0% in a stateless client paradigm fast syncing<00:26:31.160> is<00:26:31.310> literally<00:26:31.880> pretty<00:26:32.090> much<00:26:32.240> instant 00:26:33.210 --> 00:26:33.220 align:start position:0% syncing is literally pretty much instant 00:26:33.220 --> 00:26:35.680 align:start position:0% syncing is literally pretty much instant and<00:26:34.220> this<00:26:34.430> is<00:26:34.580> true<00:26:34.820> regardless<00:26:34.970> of<00:26:35.450> what<00:26:35.600> the 00:26:35.680 --> 00:26:35.690 align:start position:0% and this is true regardless of what the 00:26:35.690 --> 00:26:37.990 align:start position:0% and this is true regardless of what the state<00:26:35.870> size<00:26:36.140> is<00:26:36.380> stateless<00:26:37.250> clients<00:26:37.670> allow<00:26:37.850> us 00:26:37.990 --> 00:26:38.000 align:start position:0% state size is stateless clients allow us 00:26:38.000 --> 00:26:39.610 align:start position:0% state size is stateless clients allow us to<00:26:38.150> care<00:26:38.390> much<00:26:38.570> less<00:26:38.630> about<00:26:39.080> the<00:26:39.200> state<00:26:39.380> size 00:26:39.610 --> 00:26:39.620 align:start position:0% to care much less about the state size 00:26:39.620 --> 00:26:42.010 align:start position:0% to care much less about the state size so<00:26:40.580> even<00:26:41.000> if<00:26:41.090> the<00:26:41.210> state<00:26:41.420> was<00:26:41.660> you<00:26:41.810> know<00:26:41.930> like 00:26:42.010 --> 00:26:42.020 align:start position:0% so even if the state was you know like 00:26:42.020 --> 00:26:44.080 align:start position:0% so even if the state was you know like one<00:26:42.230> petabyte<00:26:42.530> nobody<00:26:43.340> really<00:26:43.760> needs<00:26:44.000> to 00:26:44.080 --> 00:26:44.090 align:start position:0% one petabyte nobody really needs to 00:26:44.090 --> 00:26:45.820 align:start position:0% one petabyte nobody really needs to store<00:26:44.390> that<00:26:44.540> one<00:26:44.690> petabyte 00:26:45.820 --> 00:26:45.830 align:start position:0% store that one petabyte 00:26:45.830 --> 00:26:47.580 align:start position:0% store that one petabyte they<00:26:46.070> massively<00:26:46.489> increased<00:26:46.970> parallelizable 00:26:47.580 --> 00:26:47.590 align:start position:0% they massively increased parallelizable 00:26:47.590 --> 00:26:49.899 align:start position:0% they massively increased parallelizable increased<00:26:48.590> paralyzed<00:26:48.980> ability<00:26:49.429> kind<00:26:49.669> of<00:26:49.759> as<00:26:49.879> a 00:26:49.899 --> 00:26:49.909 align:start position:0% increased paralyzed ability kind of as a 00:26:49.909 --> 00:26:52.869 align:start position:0% increased paralyzed ability kind of as a side<00:26:50.149> effect<00:26:50.179> so<00:26:50.960> you<00:26:51.529> know<00:26:51.590> look<00:26:51.710> this<00:26:51.860> is<00:26:52.070> one 00:26:52.869 --> 00:26:52.879 align:start position:0% side effect so you know look this is one 00:26:52.879 --> 00:26:55.659 align:start position:0% side effect so you know look this is one other<00:26:53.210> kind<00:26:53.509> of<00:26:53.710> secondary<00:26:54.710> scalability<00:26:55.460> path 00:26:55.659 --> 00:26:55.669 align:start position:0% other kind of secondary scalability path 00:26:55.669 --> 00:26:58.060 align:start position:0% other kind of secondary scalability path that<00:26:56.059> I<00:26:56.090> mean<00:26:56.330> like<00:26:56.419> basically<00:26:57.320> it<00:26:57.739> might<00:26:57.919> even 00:26:58.060 --> 00:26:58.070 align:start position:0% that I mean like basically it might even 00:26:58.070 --> 00:27:00.129 align:start position:0% that I mean like basically it might even just<00:26:58.369> make<00:26:58.580> sense<00:26:58.789> to<00:26:59.059> do<00:26:59.239> it<00:26:59.269> to<00:26:59.509> do<00:26:59.659> it<00:26:59.809> in<00:26:59.989> the 00:27:00.129 --> 00:27:00.139 align:start position:0% just make sense to do it to do it in the 00:27:00.139 --> 00:27:03.899 align:start position:0% just make sense to do it to do it in the in<00:27:00.440> the<00:27:00.619> shorted<00:27:00.950> universe<00:27:01.309> from<00:27:01.460> day<00:27:01.639> one<00:27:01.929> so 00:27:03.899 --> 00:27:03.909 align:start position:0% in the shorted universe from day one so 00:27:03.909 --> 00:27:06.159 align:start position:0% in the shorted universe from day one so regardless<00:27:04.909> of<00:27:05.119> kind<00:27:05.330> of<00:27:05.419> each<00:27:05.629> individual 00:27:06.159 --> 00:27:06.169 align:start position:0% regardless of kind of each individual 00:27:06.169 --> 00:27:08.379 align:start position:0% regardless of kind of each individual proposal<00:27:06.739> right<00:27:06.919> the<00:27:07.039> general<00:27:07.429> idea<00:27:07.759> is<00:27:07.909> that 00:27:08.379 --> 00:27:08.389 align:start position:0% proposal right the general idea is that 00:27:08.389 --> 00:27:10.450 align:start position:0% proposal right the general idea is that you<00:27:08.779> know<00:27:08.869> we<00:27:09.139> could<00:27:09.320> have<00:27:09.529> ongoing 00:27:10.450 --> 00:27:10.460 align:start position:0% you know we could have ongoing 00:27:10.460 --> 00:27:11.979 align:start position:0% you know we could have ongoing development<00:27:10.970> of<00:27:11.090> the<00:27:11.239> etherium<00:27:11.600> protocol 00:27:11.979 --> 00:27:11.989 align:start position:0% development of the etherium protocol 00:27:11.989 --> 00:27:13.989 align:start position:0% development of the etherium protocol happen<00:27:12.289> in<00:27:12.379> two<00:27:12.529> layers<00:27:12.769> we<00:27:13.489> are<00:27:13.610> the<00:27:13.730> first 00:27:13.989 --> 00:27:13.999 align:start position:0% happen in two layers we are the first 00:27:13.999 --> 00:27:16.869 align:start position:0% happen in two layers we are the first layer<00:27:14.330> basically<00:27:15.019> involves<00:27:15.879> relatively 00:27:16.869 --> 00:27:16.879 align:start position:0% layer basically involves relatively 00:27:16.879 --> 00:27:19.149 align:start position:0% layer basically involves relatively small<00:27:17.119> changes<00:27:17.600> efficiency<00:27:18.559> improvements 00:27:19.149 --> 00:27:19.159 align:start position:0% small changes efficiency improvements 00:27:19.159 --> 00:27:21.279 align:start position:0% small changes efficiency improvements getting<00:27:19.730> Casper<00:27:20.119> rolled<00:27:20.299> out<00:27:20.450> and<00:27:20.720> then<00:27:21.169> the 00:27:21.279 --> 00:27:21.289 align:start position:0% getting Casper rolled out and then the 00:27:21.289 --> 00:27:23.289 align:start position:0% getting Casper rolled out and then the second<00:27:21.679> layer<00:27:21.830> is<00:27:22.159> the<00:27:22.460> one<00:27:22.639> where<00:27:22.879> rapid 00:27:23.289 --> 00:27:23.299 align:start position:0% second layer is the one where rapid 00:27:23.299 --> 00:27:25.180 align:start position:0% second layer is the one where rapid development<00:27:23.779> and<00:27:23.960> experimentation<00:27:24.320> happens 00:27:25.180 --> 00:27:25.190 align:start position:0% development and experimentation happens 00:27:25.190 --> 00:27:27.879 align:start position:0% development and experimentation happens and<00:27:25.639> it's<00:27:26.330> the<00:27:26.509> one<00:27:26.720> where<00:27:27.019> you<00:27:27.470> know<00:27:27.590> we<00:27:27.739> could 00:27:27.879 --> 00:27:27.889 align:start position:0% and it's the one where you know we could 00:27:27.889 --> 00:27:29.529 align:start position:0% and it's the one where you know we could get<00:27:28.100> you<00:27:28.309> a<00:27:28.369> thousands<00:27:28.789> of<00:27:28.879> transactions<00:27:29.480> per 00:27:29.529 --> 00:27:29.539 align:start position:0% get you a thousands of transactions per 00:27:29.539 --> 00:27:31.989 align:start position:0% get you a thousands of transactions per second<00:27:30.049> actually<00:27:30.559> fairly<00:27:30.769> quickly<00:27:31.100> and<00:27:31.609> on<00:27:31.970> a 00:27:31.989 --> 00:27:31.999 align:start position:0% second actually fairly quickly and on a 00:27:31.999 --> 00:27:33.909 align:start position:0% second actually fairly quickly and on a significantly<00:27:32.600> accelerated<00:27:33.139> schedule<00:27:33.409> if<00:27:33.769> we 00:27:33.909 --> 00:27:33.919 align:start position:0% significantly accelerated schedule if we 00:27:33.919 --> 00:27:36.789 align:start position:0% significantly accelerated schedule if we want<00:27:34.100> you<00:27:34.279> know<00:27:34.549> if<00:27:34.669> we<00:27:34.909> wants<00:27:35.179> to<00:27:35.330> so<00:27:35.869> if<00:27:36.499> there 00:27:36.789 --> 00:27:36.799 align:start position:0% want you know if we wants to so if there 00:27:36.799 --> 00:27:39.249 align:start position:0% want you know if we wants to so if there are<00:27:36.950> applications<00:27:37.700> that<00:27:37.820> do<00:27:38.029> not<00:27:38.149> need<00:27:38.480> super 00:27:39.249 --> 00:27:39.259 align:start position:0% are applications that do not need super 00:27:39.259 --> 00:27:42.460 align:start position:0% are applications that do not need super duper<00:27:39.529> high<00:27:40.149> security<00:27:41.149> then<00:27:41.720> you<00:27:42.109> know<00:27:42.230> think 00:27:42.460 --> 00:27:42.470 align:start position:0% duper high security then you know think 00:27:42.470 --> 00:27:43.899 align:start position:0% duper high security then you know think you<00:27:42.529> just<00:27:42.710> go<00:27:42.830> on<00:27:42.950> layer<00:27:43.129> two<00:27:43.369> fairly<00:27:43.700> quickly 00:27:43.899 --> 00:27:43.909 align:start position:0% you just go on layer two fairly quickly 00:27:43.909 --> 00:27:46.239 align:start position:0% you just go on layer two fairly quickly so<00:27:44.779> this<00:27:44.960> gives<00:27:45.230> us<00:27:45.379> the<00:27:45.440> benefits<00:27:46.009> of 00:27:46.239 --> 00:27:46.249 align:start position:0% so this gives us the benefits of 00:27:46.249 --> 00:27:47.830 align:start position:0% so this gives us the benefits of basically<00:27:46.759> both<00:27:47.029> approaches<00:27:47.480> at<00:27:47.600> the<00:27:47.659> same 00:27:47.830 --> 00:27:47.840 align:start position:0% basically both approaches at the same 00:27:47.840 --> 00:27:49.359 align:start position:0% basically both approaches at the same time<00:27:48.049> right<00:27:48.379> so<00:27:48.409> safe<00:27:48.830> and<00:27:48.919> conservative 00:27:49.359 --> 00:27:49.369 align:start position:0% time right so safe and conservative 00:27:49.369 --> 00:27:51.759 align:start position:0% time right so safe and conservative layer<00:27:49.519> one<00:27:49.789> and<00:27:50.179> all<00:27:50.869> this<00:27:51.019> rapid<00:27:51.350> development 00:27:51.759 --> 00:27:51.769 align:start position:0% layer one and all this rapid development 00:27:51.769 --> 00:27:54.249 align:start position:0% layer one and all this rapid development in<00:27:51.859> layer<00:27:52.039> two<00:27:52.340> and<00:27:52.609> the<00:27:53.149> ability<00:27:53.600> to<00:27:53.629> use<00:27:54.019> way 00:27:54.249 --> 00:27:54.259 align:start position:0% in layer two and the ability to use way 00:27:54.259 --> 00:27:56.470 align:start position:0% in layer two and the ability to use way or<00:27:54.409> two<00:27:54.619> in<00:27:54.980> order<00:27:55.580> to<00:27:55.730> do<00:27:55.940> all<00:27:56.269> of<00:27:56.299> these 00:27:56.470 --> 00:27:56.480 align:start position:0% or two in order to do all of these 00:27:56.480 --> 00:27:58.509 align:start position:0% or two in order to do all of these protocol<00:27:56.960> improvements<00:27:57.559> that<00:27:57.710> no<00:27:58.009> developers 00:27:58.509 --> 00:27:58.519 align:start position:0% protocol improvements that no developers 00:27:58.519 --> 00:28:00.489 align:start position:0% protocol improvements that no developers have<00:27:58.759> been<00:27:58.970> dreaming<00:27:59.690> about<00:27:59.960> the<00:28:00.139> whole<00:28:00.289> time 00:28:00.489 --> 00:28:00.499 align:start position:0% have been dreaming about the whole time 00:28:00.499 --> 00:28:03.310 align:start position:0% have been dreaming about the whole time without<00:28:01.100> having<00:28:01.609> to<00:28:02.029> go<00:28:02.659> through<00:28:02.690> this<00:28:03.169> kind 00:28:03.310 --> 00:28:03.320 align:start position:0% without having to go through this kind 00:28:03.320 --> 00:28:04.840 align:start position:0% without having to go through this kind of<00:28:03.440> political<00:28:03.679> process<00:28:04.369> of<00:28:04.489> getting<00:28:04.609> all 00:28:04.840 --> 00:28:04.850 align:start position:0% of political process of getting all 00:28:04.850 --> 00:28:06.549 align:start position:0% of political process of getting all seven<00:28:05.179> clients<00:28:05.419> to<00:28:05.690> agree<00:28:05.960> on<00:28:05.989> it<00:28:06.259> and<00:28:06.379> write 00:28:06.549 --> 00:28:06.559 align:start position:0% seven clients to agree on it and write 00:28:06.559 --> 00:28:09.249 align:start position:0% seven clients to agree on it and write and<00:28:06.769> write<00:28:07.460> a<00:28:07.519> million<00:28:07.789> state<00:28:08.179> tests<00:28:08.989> for<00:28:09.230> it 00:28:09.249 --> 00:28:09.259 align:start position:0% and write a million state tests for it 00:28:09.259 --> 00:28:11.499 align:start position:0% and write a million state tests for it and<00:28:09.529> and<00:28:10.190> fuzz<00:28:10.399> it<00:28:10.519> for<00:28:10.639> six<00:28:10.820> months<00:28:11.090> in<00:28:11.299> the 00:28:11.499 --> 00:28:11.509 align:start position:0% and and fuzz it for six months in the 00:28:11.509 --> 00:28:13.509 align:start position:0% and and fuzz it for six months in the short<00:28:11.779> term<00:28:12.019> in<00:28:12.769> the<00:28:12.980> longer<00:28:13.279> term 00:28:13.509 --> 00:28:13.519 align:start position:0% short term in the longer term 00:28:13.519 --> 00:28:16.029 align:start position:0% short term in the longer term even<00:28:14.210> as<00:28:14.359> the<00:28:14.570> shorting<00:28:14.960> system<00:28:15.529> solidifies 00:28:16.029 --> 00:28:16.039 align:start position:0% even as the shorting system solidifies 00:28:16.039 --> 00:28:18.039 align:start position:0% even as the shorting system solidifies of<00:28:16.369> course<00:28:16.879> the<00:28:17.059> shorting<00:28:17.359> system<00:28:17.690> will<00:28:17.840> end 00:28:18.039 --> 00:28:18.049 align:start position:0% of course the shorting system will end 00:28:18.049 --> 00:28:20.349 align:start position:0% of course the shorting system will end up<00:28:18.169> gig<00:28:18.489> focusing<00:28:19.489> greeted<00:28:19.820> more<00:28:20.029> and<00:28:20.149> more<00:28:20.269> on 00:28:20.349 --> 00:28:20.359 align:start position:0% up gig focusing greeted more and more on 00:28:20.359 --> 00:28:22.960 align:start position:0% up gig focusing greeted more and more on conservatism<00:28:20.929> and<00:28:21.169> security<00:28:21.619> and<00:28:22.159> eventually 00:28:22.960 --> 00:28:22.970 align:start position:0% conservatism and security and eventually 00:28:22.970 --> 00:28:25.029 align:start position:0% conservatism and security and eventually the<00:28:23.119> two<00:28:23.149> will<00:28:23.600> be<00:28:23.840> kind<00:28:24.109> of<00:28:24.200> merged<00:28:24.619> in<00:28:24.799> some 00:28:25.029 --> 00:28:25.039 align:start position:0% the two will be kind of merged in some 00:28:25.039 --> 00:28:27.099 align:start position:0% the two will be kind of merged in some nice<00:28:25.220> and<00:28:25.429> clean<00:28:25.609> way<00:28:25.789> but<00:28:26.239> look<00:28:26.809> this<00:28:26.960> is 00:28:27.099 --> 00:28:27.109 align:start position:0% nice and clean way but look this is 00:28:27.109 --> 00:28:29.139 align:start position:0% nice and clean way but look this is something<00:28:27.409> like<00:28:27.440> if<00:28:28.279> we<00:28:28.399> wants<00:28:28.669> to<00:28:28.789> can<00:28:28.970> wait 00:28:29.139 --> 00:28:29.149 align:start position:0% something like if we wants to can wait 00:28:29.149 --> 00:28:31.720 align:start position:0% something like if we wants to can wait three<00:28:29.359> or<00:28:29.450> four<00:28:29.600> years<00:28:29.809> so<00:28:30.220> the<00:28:31.220> good<00:28:31.399> news<00:28:31.580> is 00:28:31.720 --> 00:28:31.730 align:start position:0% three or four years so the good news is 00:28:31.730 --> 00:28:34.869 align:start position:0% three or four years so the good news is that<00:28:31.820> the<00:28:32.799> along<00:28:33.799> with<00:28:34.009> the<00:28:34.190> initial<00:28:34.549> work<00:28:34.700> of 00:28:34.869 --> 00:28:34.879 align:start position:0% that the along with the initial work of 00:28:34.879 --> 00:28:36.369 align:start position:0% that the along with the initial work of on<00:28:35.029> shorting<00:28:35.539> having<00:28:35.779> a<00:28:35.869> proceeding<00:28:36.350> very 00:28:36.369 --> 00:28:36.379 align:start position:0% on shorting having a proceeding very 00:28:36.379 --> 00:28:37.930 align:start position:0% on shorting having a proceeding very quickly<00:28:36.889> to<00:28:37.159> the<00:28:37.249> points<00:28:37.549> we<00:28:37.669> are<00:28:37.789> we<00:28:37.909> are 00:28:37.930 --> 00:28:37.940 align:start position:0% quickly to the points we are we are 00:28:37.940 --> 00:28:40.539 align:start position:0% quickly to the points we are we are basically<00:28:38.869> just<00:28:38.960> inches<00:28:39.440> away<00:28:39.470> from<00:28:40.009> having<00:28:40.220> a 00:28:40.539 --> 00:28:40.549 align:start position:0% basically just inches away from having a 00:28:40.549 --> 00:28:43.749 align:start position:0% basically just inches away from having a working<00:28:41.149> Kasper<00:28:41.960> proof-of-concept<00:28:42.889> test<00:28:43.549> and 00:28:43.749 --> 00:28:43.759 align:start position:0% working Kasper proof-of-concept test and 00:28:43.759 --> 00:28:46.060 align:start position:0% working Kasper proof-of-concept test and in<00:28:43.850> Python<00:28:44.239> we<00:28:44.690> also<00:28:44.869> have<00:28:45.230> initial<00:28:45.739> work<00:28:45.889> on 00:28:46.060 --> 00:28:46.070 align:start position:0% in Python we also have initial work on 00:28:46.070 --> 00:28:47.680 align:start position:0% in Python we also have initial work on shorting<00:28:46.489> that's<00:28:46.669> being<00:28:46.820> done<00:28:47.059> in<00:28:47.210> this<00:28:47.330> repo 00:28:47.680 --> 00:28:47.690 align:start position:0% shorting that's being done in this repo 00:28:47.690 --> 00:28:50.379 align:start position:0% shorting that's being done in this repo so<00:28:48.350> you<00:28:48.409> know<00:28:48.649> we<00:28:48.830> have<00:28:48.980> some<00:28:49.340> developers<00:28:49.879> that 00:28:50.379 --> 00:28:50.389 align:start position:0% so you know we have some developers that 00:28:50.389 --> 00:28:53.919 align:start position:0% so you know we have some developers that are<00:28:50.600> working<00:28:50.929> on<00:28:51.379> a<00:28:51.739> shorting<00:28:52.929> capable 00:28:53.919 --> 00:28:53.929 align:start position:0% are working on a shorting capable 00:28:53.929 --> 00:28:57.519 align:start position:0% are working on a shorting capable clients<00:28:54.549> and<00:28:55.549> that<00:28:56.119> are<00:28:56.269> starting<00:28:56.690> to<00:28:57.080> work<00:28:57.289> on 00:28:57.519 --> 00:28:57.529 align:start position:0% clients and that are starting to work on 00:28:57.529 --> 00:28:59.190 align:start position:0% clients and that are starting to work on some<00:28:57.889> of<00:28:57.919> these<00:28:58.070> steel<00:28:58.309> with<00:28:58.490> steel 00:28:59.190 --> 00:28:59.200 align:start position:0% some of these steel with steel 00:28:59.200 --> 00:29:00.300 align:start position:0% some of these steel with steel quite<00:28:59.410> an<00:28:59.500> improvement<00:28:59.710> starting<00:29:00.220> to 00:29:00.300 --> 00:29:00.310 align:start position:0% quite an improvement starting to 00:29:00.310 --> 00:29:02.010 align:start position:0% quite an improvement starting to experiment<00:29:00.700> with<00:29:01.060> some<00:29:01.810> of<00:29:01.840> these 00:29:02.010 --> 00:29:02.020 align:start position:0% experiment with some of these 00:29:02.020 --> 00:29:04.230 align:start position:0% experiment with some of these optimizations<00:29:02.830> and<00:29:03.130> you<00:29:03.820> know<00:29:03.910> the<00:29:04.060> hope 00:29:04.230 --> 00:29:04.240 align:start position:0% optimizations and you know the hope 00:29:04.240 --> 00:29:06.120 align:start position:0% optimizations and you know the hope would<00:29:04.390> be<00:29:04.450> to<00:29:04.600> also<00:29:05.170> you<00:29:05.560> know<00:29:05.650> if<00:29:05.920> there<00:29:06.100> are 00:29:06.120 --> 00:29:06.130 align:start position:0% would be to also you know if there are 00:29:06.130 --> 00:29:07.830 align:start position:0% would be to also you know if there are other<00:29:06.280> clients<00:29:06.940> developers<00:29:07.330> that<00:29:07.540> wants<00:29:07.780> to 00:29:07.830 --> 00:29:07.840 align:start position:0% other clients developers that wants to 00:29:07.840 --> 00:29:09.660 align:start position:0% other clients developers that wants to participate<00:29:08.080> in<00:29:08.440> this<00:29:08.620> as<00:29:08.740> well<00:29:08.890> then<00:29:09.280> you 00:29:09.660 --> 00:29:09.670 align:start position:0% participate in this as well then you 00:29:09.670 --> 00:29:10.920 align:start position:0% participate in this as well then you know<00:29:09.760> what<00:29:09.850> this<00:29:10.000> is<00:29:10.180> something<00:29:10.390> that<00:29:10.540> should 00:29:10.920 --> 00:29:10.930 align:start position:0% know what this is something that should 00:29:10.930 --> 00:29:13.290 align:start position:0% know what this is something that should have<00:29:11.740> been<00:29:11.770> totally<00:29:12.310> openly<00:29:12.760> in<00:29:12.850> this<00:29:13.000> and 00:29:13.290 --> 00:29:13.300 align:start position:0% have been totally openly in this and 00:29:13.300 --> 00:29:15.600 align:start position:0% have been totally openly in this and this<00:29:14.020> is<00:29:14.140> a<00:29:14.170> process<00:29:14.620> that<00:29:15.130> you<00:29:15.280> know<00:29:15.370> should 00:29:15.600 --> 00:29:15.610 align:start position:0% this is a process that you know should 00:29:15.610 --> 00:29:18.150 align:start position:0% this is a process that you know should eventually<00:29:16.120> go<00:29:16.270> you<00:29:16.660> know<00:29:16.720> beyond<00:29:17.470> just<00:29:17.710> just 00:29:18.150 --> 00:29:18.160 align:start position:0% eventually go you know beyond just just 00:29:18.160 --> 00:29:21.570 align:start position:0% eventually go you know beyond just just happening<00:29:18.460> inside<00:29:18.700> of<00:29:18.820> one<00:29:18.970> client<00:29:19.240> and<00:29:20.580> you 00:29:21.570 --> 00:29:21.580 align:start position:0% happening inside of one client and you 00:29:21.580 --> 00:29:23.970 align:start position:0% happening inside of one client and you know<00:29:21.670> basically<00:29:22.270> you<00:29:22.660> know<00:29:22.960> in<00:29:23.200> the<00:29:23.320> short<00:29:23.530> in 00:29:23.970 --> 00:29:23.980 align:start position:0% know basically you know in the short in 00:29:23.980 --> 00:29:26.580 align:start position:0% know basically you know in the short in the<00:29:24.190> short<00:29:24.400> term<00:29:24.640> the<00:29:25.240> shorting<00:29:26.170> stuff<00:29:26.410> would 00:29:26.580 --> 00:29:26.590 align:start position:0% the short term the shorting stuff would 00:29:26.590 --> 00:29:29.100 align:start position:0% the short term the shorting stuff would continue<00:29:27.070> as<00:29:27.280> kind<00:29:28.240> of<00:29:28.330> proof<00:29:28.510> of<00:29:28.600> concept<00:29:29.020> and 00:29:29.100 --> 00:29:29.110 align:start position:0% continue as kind of proof of concept and 00:29:29.110 --> 00:29:31.140 align:start position:0% continue as kind of proof of concept and test<00:29:29.380> note<00:29:29.560> test<00:29:29.950> mode<00:29:30.190> and<00:29:30.610> the<00:29:30.940> nice<00:29:31.120> thing 00:29:31.140 --> 00:29:31.150 align:start position:0% test note test mode and the nice thing 00:29:31.150 --> 00:29:33.450 align:start position:0% test note test mode and the nice thing is<00:29:31.570> that<00:29:31.810> because<00:29:31.960> this<00:29:32.470> is<00:29:32.650> not<00:29:32.920> being<00:29:33.190> done 00:29:33.450 --> 00:29:33.460 align:start position:0% is that because this is not being done 00:29:33.460 --> 00:29:35.250 align:start position:0% is that because this is not being done as<00:29:33.700> a<00:29:33.730> hard<00:29:34.030> fork<00:29:34.300> because<00:29:34.510> this<00:29:34.900> is<00:29:35.020> being 00:29:35.250 --> 00:29:35.260 align:start position:0% as a hard fork because this is being 00:29:35.260 --> 00:29:38.730 align:start position:0% as a hard fork because this is being rolled<00:29:35.920> in<00:29:36.070> gradually<00:29:36.760> as<00:29:37.410> this<00:29:38.410> kind<00:29:38.650> of 00:29:38.730 --> 00:29:38.740 align:start position:0% rolled in gradually as this kind of 00:29:38.740 --> 00:29:40.470 align:start position:0% rolled in gradually as this kind of loosely<00:29:39.130> coupled<00:29:39.460> overlay<00:29:39.880> at<00:29:40.000> first<00:29:40.240> and 00:29:40.470 --> 00:29:40.480 align:start position:0% loosely coupled overlay at first and 00:29:40.480 --> 00:29:42.480 align:start position:0% loosely coupled overlay at first and tightly<00:29:40.780> coupled<00:29:40.930> over<00:29:41.290> time<00:29:41.530> like<00:29:42.100> basically 00:29:42.480 --> 00:29:42.490 align:start position:0% tightly coupled over time like basically 00:29:42.490 --> 00:29:44.460 align:start position:0% tightly coupled over time like basically there<00:29:42.730> is<00:29:42.760> no<00:29:43.120> sharp<00:29:43.420> test<00:29:43.810> that<00:29:43.990> too<00:29:44.140> may<00:29:44.290> not 00:29:44.460 --> 00:29:44.470 align:start position:0% there is no sharp test that too may not 00:29:44.470 --> 00:29:46.380 align:start position:0% there is no sharp test that too may not cut<00:29:44.680> off<00:29:44.800> right<00:29:45.070> so<00:29:45.100> like<00:29:45.370> the<00:29:45.790> extent<00:29:46.300> to 00:29:46.380 --> 00:29:46.390 align:start position:0% cut off right so like the extent to 00:29:46.390 --> 00:29:48.030 align:start position:0% cut off right so like the extent to which<00:29:46.600> the<00:29:46.810> shards<00:29:47.110> are<00:29:47.230> tested<00:29:47.740> and<00:29:47.890> the 00:29:48.030 --> 00:29:48.040 align:start position:0% which the shards are tested and the 00:29:48.040 --> 00:29:49.350 align:start position:0% which the shards are tested and the extent<00:29:48.400> to<00:29:48.430> which<00:29:48.520> the<00:29:48.700> shards<00:29:48.970> are<00:29:49.120> a<00:29:49.150> main 00:29:49.350 --> 00:29:49.360 align:start position:0% extent to which the shards are a main 00:29:49.360 --> 00:29:51.930 align:start position:0% extent to which the shards are a main net<00:29:49.570> actually<00:29:50.320> kind<00:29:50.500> of<00:29:50.590> group<00:29:50.860> flows<00:29:51.280> fluidly 00:29:51.930 --> 00:29:51.940 align:start position:0% net actually kind of group flows fluidly 00:29:51.940 --> 00:29:54.120 align:start position:0% net actually kind of group flows fluidly from<00:29:52.150> one<00:29:52.300> to<00:29:52.420> the<00:29:52.480> other<00:29:52.540> over<00:29:52.960> time<00:29:53.140> so<00:29:53.770> you 00:29:54.120 --> 00:29:54.130 align:start position:0% from one to the other over time so you 00:29:54.130 --> 00:29:56.900 align:start position:0% from one to the other over time so you know<00:29:54.430> basically<00:29:54.700> this<00:29:55.390> way<00:29:55.600> we<00:29:55.840> can<00:29:56.050> get 00:29:56.900 --> 00:29:56.910 align:start position:0% know basically this way we can get 00:29:56.910 --> 00:30:00.090 align:start position:0% know basically this way we can get development<00:29:57.910> of<00:29:58.210> both<00:29:58.960> scalability<00:29:59.710> and<00:29:59.920> a 00:30:00.090 --> 00:30:00.100 align:start position:0% development of both scalability and a 00:30:00.100 --> 00:30:01.170 align:start position:0% development of both scalability and a large<00:30:00.280> number<00:30:00.340> of<00:30:00.610> other<00:30:00.790> needed 00:30:01.170 --> 00:30:01.180 align:start position:0% large number of other needed 00:30:01.180 --> 00:30:04.260 align:start position:0% large number of other needed improvements<00:30:01.690> in<00:30:02.010> both<00:30:03.010> both<00:30:03.640> quickly<00:30:03.940> and 00:30:04.260 --> 00:30:04.270 align:start position:0% improvements in both both quickly and 00:30:04.270 --> 00:30:06.270 align:start position:0% improvements in both both quickly and safely<00:30:05.080> with<00:30:05.440> respect<00:30:05.770> to<00:30:05.860> the<00:30:05.950> existing 00:30:06.270 --> 00:30:06.280 align:start position:0% safely with respect to the existing 00:30:06.280 --> 00:30:10.220 align:start position:0% safely with respect to the existing aetherium<00:30:06.640> protocol<00:30:07.060> thank<00:30:07.810> you 00:30:10.220 --> 00:30:10.230 align:start position:0% 00:30:10.230 --> 00:30:18.040 align:start position:0% [Applause] 00:30:18.040 --> 00:30:18.050 align:start position:0% [Applause] 00:30:18.050 --> 00:30:24.180 align:start position:0% [Applause] you 00:30:24.180 --> 00:30:24.190 align:start position:0% 00:30:24.190 --> 00:30:31.769 align:start position:0% [Music]