WEBVTT Kind: captions Language: en 00:00:04.620 --> 00:00:14.770 align:start position:0% [Music] 00:00:14.770 --> 00:00:14.780 align:start position:0% 00:00:14.780 --> 00:00:16.390 align:start position:0% [Music] 00:00:16.390 --> 00:00:16.400 align:start position:0% [Music] 00:00:16.400 --> 00:00:20.509 align:start position:0% [Music] so<00:00:17.400> C<00:00:17.600> can<00:00:17.760> an<00:00:17.920> ethereum<00:00:18.480> contract<00:00:19.039> own 00:00:20.509 --> 00:00:20.519 align:start position:0% so C can an ethereum contract own 00:00:20.519 --> 00:00:24.390 align:start position:0% so C can an ethereum contract own Bitcoins<00:00:21.519> could<00:00:21.680> it<00:00:21.840> own<00:00:22.279> your 00:00:24.390 --> 00:00:24.400 align:start position:0% Bitcoins could it own your 00:00:24.400 --> 00:00:28.550 align:start position:0% Bitcoins could it own your Bitcoins<00:00:25.400> the<00:00:25.640> direct<00:00:26.080> answer<00:00:26.560> is 00:00:28.550 --> 00:00:28.560 align:start position:0% Bitcoins the direct answer is 00:00:28.560 --> 00:00:32.190 align:start position:0% Bitcoins the direct answer is no<00:00:29.560> but<00:00:29.840> if<00:00:30.000> it<00:00:30.080> is<00:00:30.320> possible<00:00:31.000> that<00:00:32.000> an 00:00:32.190 --> 00:00:32.200 align:start position:0% no but if it is possible that an 00:00:32.200 --> 00:00:35.110 align:start position:0% no but if it is possible that an ethereum<00:00:32.640> contract<00:00:33.079> could<00:00:33.399> have<00:00:34.239> a<00:00:34.360> lot<00:00:34.480> of 00:00:35.110 --> 00:00:35.120 align:start position:0% ethereum contract could have a lot of 00:00:35.120 --> 00:00:38.389 align:start position:0% ethereum contract could have a lot of incentives<00:00:36.120> so<00:00:36.360> that<00:00:36.920> effectively<00:00:37.520> it<00:00:37.680> does 00:00:38.389 --> 00:00:38.399 align:start position:0% incentives so that effectively it does 00:00:38.399 --> 00:00:40.830 align:start position:0% incentives so that effectively it does own<00:00:39.399> and<00:00:39.559> control<00:00:39.920> your 00:00:40.830 --> 00:00:40.840 align:start position:0% own and control your 00:00:40.840 --> 00:00:44.510 align:start position:0% own and control your Bitcoins<00:00:41.840> imagine<00:00:42.200> a<00:00:42.440> contract<00:00:43.120> that<00:00:43.800> has<00:00:44.000> a 00:00:44.510 --> 00:00:44.520 align:start position:0% Bitcoins imagine a contract that has a 00:00:44.520 --> 00:00:48.150 align:start position:0% Bitcoins imagine a contract that has a massive<00:00:45.000> amount<00:00:45.360> of<00:00:45.600> ether<00:00:46.440> or<00:00:46.879> assets<00:00:47.440> that 00:00:48.150 --> 00:00:48.160 align:start position:0% massive amount of ether or assets that 00:00:48.160 --> 00:00:49.150 align:start position:0% massive amount of ether or assets that you 00:00:49.150 --> 00:00:49.160 align:start position:0% you 00:00:49.160 --> 00:00:52.150 align:start position:0% you wanted<00:00:50.160> this<00:00:50.520> contract<00:00:50.920> could<00:00:51.079> be<00:00:51.280> programmed 00:00:52.150 --> 00:00:52.160 align:start position:0% wanted this contract could be programmed 00:00:52.160 --> 00:00:55.510 align:start position:0% wanted this contract could be programmed to<00:00:53.160> you<00:00:53.280> know<00:00:53.840> uh<00:00:54.120> give<00:00:54.320> you<00:00:54.640> a<00:00:54.800> large<00:00:55.239> amount 00:00:55.510 --> 00:00:55.520 align:start position:0% to you know uh give you a large amount 00:00:55.520 --> 00:00:59.670 align:start position:0% to you know uh give you a large amount of<00:00:55.760> these<00:00:56.359> assets<00:00:57.359> when<00:00:57.520> it<00:00:57.879> receives<00:00:58.079> a<00:00:58.680> proof 00:00:59.670 --> 00:00:59.680 align:start position:0% of these assets when it receives a proof 00:00:59.680 --> 00:01:03.910 align:start position:0% of these assets when it receives a proof that<00:01:00.280> that<00:01:01.280> Bitcoins<00:01:01.920> from<00:01:02.519> your<00:01:03.000> address 00:01:03.910 --> 00:01:03.920 align:start position:0% that that Bitcoins from your address 00:01:03.920 --> 00:01:06.750 align:start position:0% that that Bitcoins from your address were<00:01:04.199> sent<00:01:05.159> to<00:01:05.799> an<00:01:06.040> address<00:01:06.439> that<00:01:06.600> the 00:01:06.750 --> 00:01:06.760 align:start position:0% were sent to an address that the 00:01:06.760 --> 00:01:09.429 align:start position:0% were sent to an address that the contract 00:01:09.429 --> 00:01:09.439 align:start position:0% contract 00:01:09.439 --> 00:01:13.230 align:start position:0% contract specified<00:01:10.439> the<00:01:10.960> the<00:01:11.119> first<00:01:11.439> secret<00:01:12.240> to 00:01:13.230 --> 00:01:13.240 align:start position:0% specified the the first secret to 00:01:13.240 --> 00:01:16.789 align:start position:0% specified the the first secret to interacting<00:01:13.880> with<00:01:14.320> Bitcoin<00:01:14.799> in<00:01:15.520> ethereum<00:01:16.520> is 00:01:16.789 --> 00:01:16.799 align:start position:0% interacting with Bitcoin in ethereum is 00:01:16.799 --> 00:01:19.429 align:start position:0% interacting with Bitcoin in ethereum is the<00:01:16.920> use<00:01:17.159> of<00:01:17.400> payment 00:01:19.429 --> 00:01:19.439 align:start position:0% the use of payment 00:01:19.439 --> 00:01:24.149 align:start position:0% the use of payment proofs<00:01:20.439> BTC<00:01:21.000> relay<00:01:21.960> is<00:01:22.479> a<00:01:22.960> bridge<00:01:23.960> that 00:01:24.149 --> 00:01:24.159 align:start position:0% proofs BTC relay is a bridge that 00:01:24.159 --> 00:01:29.030 align:start position:0% proofs BTC relay is a bridge that empowers<00:01:25.119> daps<00:01:25.720> to<00:01:26.720> accept<00:01:27.079> Bitcoin<00:01:28.040> payments 00:01:29.030 --> 00:01:29.040 align:start position:0% empowers daps to accept Bitcoin payments 00:01:29.040 --> 00:01:31.389 align:start position:0% empowers daps to accept Bitcoin payments process<00:01:29.400> arbitr<00:01:30.119> Bitcoin 00:01:31.389 --> 00:01:31.399 align:start position:0% process arbitr Bitcoin 00:01:31.399 --> 00:01:33.590 align:start position:0% process arbitr Bitcoin transactions<00:01:32.399> and<00:01:32.600> empowers<00:01:33.079> Innovation 00:01:33.590 --> 00:01:33.600 align:start position:0% transactions and empowers Innovation 00:01:33.600 --> 00:01:37.510 align:start position:0% transactions and empowers Innovation across<00:01:34.119> Bitcoin<00:01:34.960> and<00:01:35.880> ethereum<00:01:36.880> such<00:01:37.079> as 00:01:37.510 --> 00:01:37.520 align:start position:0% across Bitcoin and ethereum such as 00:01:37.520 --> 00:01:41.870 align:start position:0% across Bitcoin and ethereum such as decentralized<00:01:38.600> exchange<00:01:39.600> and<00:01:39.880> side 00:01:41.870 --> 00:01:41.880 align:start position:0% decentralized exchange and side 00:01:41.880 --> 00:01:45.190 align:start position:0% decentralized exchange and side chains<00:01:42.880> it<00:01:43.040> has<00:01:43.200> four<00:01:43.479> primary<00:01:44.200> advantages 00:01:45.190 --> 00:01:45.200 align:start position:0% chains it has four primary advantages 00:01:45.200 --> 00:01:48.429 align:start position:0% chains it has four primary advantages the<00:01:45.399> the<00:01:45.560> First<00:01:46.079> Advantage<00:01:46.799> is<00:01:47.200> it<00:01:47.320> is 00:01:48.429 --> 00:01:48.439 align:start position:0% the the First Advantage is it is 00:01:48.439 --> 00:01:51.590 align:start position:0% the the First Advantage is it is trustless<00:01:49.439> with<00:01:49.600> its<00:01:50.000> inputs<00:01:51.000> it<00:01:51.159> doesn't 00:01:51.590 --> 00:01:51.600 align:start position:0% trustless with its inputs it doesn't 00:01:51.600 --> 00:01:54.190 align:start position:0% trustless with its inputs it doesn't care<00:01:51.960> who<00:01:52.159> sends<00:01:52.600> them<00:01:53.159> whether<00:01:53.479> they<00:01:53.600> are 00:01:54.190 --> 00:01:54.200 align:start position:0% care who sends them whether they are 00:01:54.200 --> 00:01:56.870 align:start position:0% care who sends them whether they are reputable<00:01:55.200> or 00:01:56.870 --> 00:01:56.880 align:start position:0% reputable or 00:01:56.880 --> 00:01:59.190 align:start position:0% reputable or malicious<00:01:57.880> and<00:01:58.000> the<00:01:58.119> outputs<00:01:58.600> produced<00:01:59.039> by 00:01:59.190 --> 00:01:59.200 align:start position:0% malicious and the outputs produced by 00:01:59.200 --> 00:02:02.429 align:start position:0% malicious and the outputs produced by the<00:01:59.320> relay<00:02:00.200> follow<00:02:00.600> the<00:02:00.759> cryptographic<00:02:01.479> rules 00:02:02.429 --> 00:02:02.439 align:start position:0% the relay follow the cryptographic rules 00:02:02.439 --> 00:02:05.590 align:start position:0% the relay follow the cryptographic rules behind<00:02:03.439> Bitcoin<00:02:03.880> and 00:02:05.590 --> 00:02:05.600 align:start position:0% behind Bitcoin and 00:02:05.600 --> 00:02:08.869 align:start position:0% behind Bitcoin and ethereum<00:02:06.600> the<00:02:07.560> and<00:02:07.680> it's<00:02:07.920> also<00:02:08.160> fully<00:02:08.520> open 00:02:08.869 --> 00:02:08.879 align:start position:0% ethereum the and it's also fully open 00:02:08.879 --> 00:02:10.830 align:start position:0% ethereum the and it's also fully open source<00:02:09.520> and<00:02:09.640> this<00:02:09.759> leads<00:02:10.000> to<00:02:10.160> the<00:02:10.319> second 00:02:10.830 --> 00:02:10.840 align:start position:0% source and this leads to the second 00:02:10.840 --> 00:02:14.910 align:start position:0% source and this leads to the second advantage<00:02:11.840> that<00:02:12.120> it<00:02:12.480> is<00:02:13.480> fully 00:02:14.910 --> 00:02:14.920 align:start position:0% advantage that it is fully 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owned<00:02:24.680> by<00:02:25.040> everyone<00:02:25.879> the 00:02:27.270 --> 00:02:27.280 align:start position:0% effectively it's owned by everyone the 00:02:27.280 --> 00:02:30.750 align:start position:0% effectively it's owned by everyone the community<00:02:28.280> the<00:02:28.400> third<00:02:28.680> Advantage<00:02:29.360> is 00:02:30.750 --> 00:02:30.760 align:start position:0% community the third Advantage is 00:02:30.760 --> 00:02:32.470 align:start position:0% community the third Advantage is the<00:02:30.920> relay<00:02:31.319> is 00:02:32.470 --> 00:02:32.480 align:start position:0% the relay is 00:02:32.480 --> 00:02:35.030 align:start position:0% the relay is autonomous<00:02:33.480> unlike<00:02:33.879> other 00:02:35.030 --> 00:02:35.040 align:start position:0% autonomous unlike other 00:02:35.040 --> 00:02:37.670 align:start position:0% autonomous unlike other contracts<00:02:36.040> autonomy<00:02:36.599> is<00:02:36.840> actually<00:02:37.480> a 00:02:37.670 --> 00:02:37.680 align:start position:0% contracts autonomy is actually a 00:02:37.680 --> 00:02:40.830 align:start position:0% contracts autonomy is actually a requirement<00:02:38.440> for<00:02:39.040> the<00:02:39.480> Relay<00:02:40.480> because<00:02:40.720> it 00:02:40.830 --> 00:02:40.840 align:start position:0% requirement for the Relay because it 00:02:40.840 --> 00:02:43.509 align:start position:0% requirement for the Relay because it must<00:02:41.040> be<00:02:41.239> alive<00:02:41.640> with<00:02:41.760> a<00:02:41.920> Bitcoin<00:02:42.519> blockchain 00:02:43.509 --> 00:02:43.519 align:start position:0% must be alive with a Bitcoin blockchain 00:02:43.519 --> 00:02:45.949 align:start position:0% must be alive with a Bitcoin blockchain where<00:02:43.720> new<00:02:43.920> blocks<00:02:44.200> are<00:02:44.440> generated<00:02:45.120> every<00:02:45.519> 10 00:02:45.949 --> 00:02:45.959 align:start position:0% where new blocks are generated every 10 00:02:45.959 --> 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and<00:02:59.280> an 00:02:59.430 --> 00:02:59.440 align:start position:0% that is easy to integrate with and an 00:02:59.440 --> 00:03:01.910 align:start position:0% that is easy to integrate with and an EXT<00:02:59.720> sensible<00:03:00.200> foundation 00:03:01.910 --> 00:03:01.920 align:start position:0% EXT sensible foundation 00:03:01.920 --> 00:03:04.990 align:start position:0% EXT sensible foundation for<00:03:02.920> Innovation<00:03:03.599> such<00:03:03.799> as<00:03:04.120> decentralized 00:03:04.990 --> 00:03:05.000 align:start position:0% for Innovation such as decentralized 00:03:05.000 --> 00:03:09.030 align:start position:0% for Innovation such as decentralized exchange<00:03:05.519> and<00:03:05.760> side 00:03:09.030 --> 00:03:09.040 align:start position:0% 00:03:09.040 --> 00:03:13.110 align:start position:0% chains<00:03:10.040> so<00:03:10.280> the<00:03:10.480> first<00:03:10.920> secret<00:03:11.599> was<00:03:12.599> using 00:03:13.110 --> 00:03:13.120 align:start position:0% chains so the first secret was using 00:03:13.120 --> 00:03:15.030 align:start position:0% chains so the first secret was using payment<00:03:13.480> proofs<00:03:14.280> but<00:03:14.480> what<00:03:14.599> would<00:03:14.840> these 00:03:15.030 --> 00:03:15.040 align:start position:0% payment proofs but what would these 00:03:15.040 --> 00:03:18.270 align:start position:0% payment proofs but what would these payment<00:03:15.360> proofs<00:03:15.760> be<00:03:16.120> verified<00:03:17.040> against<00:03:18.040> so 00:03:18.270 --> 00:03:18.280 align:start position:0% payment proofs be verified against so 00:03:18.280 --> 00:03:20.110 align:start position:0% payment proofs be verified against so the<00:03:18.480> second<00:03:18.840> secret 00:03:20.110 --> 00:03:20.120 align:start position:0% the second secret 00:03:20.120 --> 00:03:25.070 align:start position:0% the second secret is<00:03:21.120> the<00:03:21.560> BTC<00:03:22.080> relay<00:03:23.040> builds<00:03:24.040> a<00:03:24.239> mini<00:03:24.680> version 00:03:25.070 --> 00:03:25.080 align:start position:0% is the BTC relay builds a mini version 00:03:25.080 --> 00:03:27.070 align:start position:0% is the BTC relay builds a mini version of<00:03:25.239> the<00:03:25.360> blockchain<00:03:26.159> a<00:03:26.280> smaller<00:03:26.680> version<00:03:26.959> of 00:03:27.070 --> 00:03:27.080 align:start position:0% of the blockchain a smaller version of 00:03:27.080 --> 00:03:29.350 align:start position:0% of the blockchain a smaller version of the<00:03:27.239> Bitcoin<00:03:27.640> blockchain<00:03:28.599> in<00:03:28.720> an<00:03:28.920> ethereum 00:03:29.350 --> 00:03:29.360 align:start position:0% the Bitcoin blockchain in an ethereum 00:03:29.360 --> 00:03:30.429 align:start position:0% the Bitcoin blockchain in an ethereum contract 00:03:30.429 --> 00:03:30.439 align:start position:0% contract 00:03:30.439 --> 00:03:32.309 align:start position:0% contract act 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time<00:03:45.959> for<00:03:46.480> this 00:03:46.670 --> 00:03:46.680 align:start position:0% against so again not much time for this 00:03:46.680 --> 00:03:48.149 align:start position:0% against so again not much time for this talk<00:03:46.879> so<00:03:47.040> I'm<00:03:47.120> going<00:03:47.239> to<00:03:47.319> give<00:03:47.439> a<00:03:47.560> whirlwind 00:03:48.149 --> 00:03:48.159 align:start position:0% talk so I'm going to give a whirlwind 00:03:48.159 --> 00:03:50.949 align:start position:0% talk so I'm going to give a whirlwind technical<00:03:48.599> introduction<00:03:49.159> to<00:03:49.439> BTC 00:03:50.949 --> 00:03:50.959 align:start position:0% technical introduction to BTC 00:03:50.959 --> 00:03:54.309 align:start position:0% technical introduction to BTC relay<00:03:51.959> it<00:03:52.079> starts<00:03:52.400> with<00:03:52.599> Bitcoin<00:03:53.040> and<00:03:53.319> SPV 00:03:54.309 --> 00:03:54.319 align:start position:0% relay it starts with Bitcoin and SPV 00:03:54.319 --> 00:03:56.550 align:start position:0% relay it starts with Bitcoin and SPV simplified<00:03:54.920> payment 00:03:56.550 --> 00:03:56.560 align:start position:0% simplified payment 00:03:56.560 --> 00:04:00.470 align:start position:0% simplified payment verification<00:03:57.560> so<00:03:57.760> in<00:03:57.959> Bitcoin<00:03:58.640> a<00:03:59.000> a<00:03:59.159> block 00:04:00.470 --> 00:04:00.480 align:start position:0% verification so in Bitcoin a a block 00:04:00.480 --> 00:04:03.589 align:start position:0% verification so in Bitcoin a a block has<00:04:00.879> both<00:04:01.159> a<00:04:01.519> a<00:04:01.680> header<00:04:02.120> which<00:04:02.200> is<00:04:02.360> 80<00:04:02.680> bytes 00:04:03.589 --> 00:04:03.599 align:start position:0% has both a a header which is 80 bytes 00:04:03.599 --> 00:04:06.630 align:start position:0% has both a a header which is 80 bytes and<00:04:03.720> then<00:04:03.959> all<00:04:04.120> the<00:04:04.599> transactions<00:04:05.599> in<00:04:05.840> that 00:04:06.630 --> 00:04:06.640 align:start position:0% and then all the transactions in that 00:04:06.640 --> 00:04:09.789 align:start position:0% and then all the transactions in that block<00:04:07.640> this<00:04:07.799> header<00:04:08.280> has 00:04:09.789 --> 00:04:09.799 align:start position:0% block this header has 00:04:09.799 --> 00:04:13.509 align:start position:0% block this header has a<00:04:10.799> quite<00:04:10.959> a<00:04:11.079> few<00:04:11.560> remarkable<00:04:12.280> properties<00:04:13.239> that 00:04:13.509 --> 00:04:13.519 align:start position:0% a quite a few remarkable properties that 00:04:13.519 --> 00:04:16.110 align:start position:0% a quite a few remarkable properties that lead<00:04:14.200> to<00:04:14.439> the<00:04:14.599> Bitcoin 00:04:16.110 --> 00:04:16.120 align:start position:0% lead to the Bitcoin 00:04:16.120 --> 00:04:19.270 align:start position:0% lead to the Bitcoin blockchain<00:04:17.120> for<00:04:17.320> example<00:04:18.239> one<00:04:18.359> of<00:04:18.519> the<00:04:19.040> one<00:04:19.160> of 00:04:19.270 --> 00:04:19.280 align:start position:0% blockchain for example one of the one of 00:04:19.280 --> 00:04:21.390 align:start position:0% blockchain for example one of the one of the<00:04:19.359> fields<00:04:19.680> in<00:04:19.919> header<00:04:20.519> has 00:04:21.390 --> 00:04:21.400 align:start position:0% the fields in header has 00:04:21.400 --> 00:04:25.350 align:start position:0% the fields in header has the<00:04:22.400> uh<00:04:22.600> the<00:04:22.759> hash<00:04:23.160> of<00:04:23.320> the<00:04:23.479> previous<00:04:24.360> block 00:04:25.350 --> 00:04:25.360 align:start position:0% the uh the hash of the previous block 00:04:25.360 --> 00:04:28.029 align:start position:0% the uh the hash of the previous block another<00:04:25.800> property<00:04:26.360> is<00:04:26.639> that<00:04:26.840> it<00:04:27.120> has 00:04:28.029 --> 00:04:28.039 align:start position:0% another property is that it has 00:04:28.039 --> 00:04:32.790 align:start position:0% another property is that it has a<00:04:29.039> the<00:04:29.160> header<00:04:29.440> has<00:04:29.800> a<00:04:29.960> root<00:04:30.680> of<00:04:31.280> the<00:04:32.280> Merkel 00:04:32.790 --> 00:04:32.800 align:start position:0% a the header has a root of the Merkel 00:04:32.800 --> 00:04:35.310 align:start position:0% a the header has a root of the Merkel tree<00:04:33.160> formed<00:04:33.639> by<00:04:33.840> all<00:04:34.039> the<00:04:34.240> transactions<00:04:35.120> in 00:04:35.310 --> 00:04:35.320 align:start position:0% tree formed by all the transactions in 00:04:35.320 --> 00:04:37.629 align:start position:0% tree formed by all the transactions in that 00:04:37.629 --> 00:04:37.639 align:start position:0% 00:04:37.639 --> 00:04:40.510 align:start position:0% block<00:04:38.680> so 00:04:40.510 --> 00:04:40.520 align:start position:0% block so 00:04:40.520 --> 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a quick example<00:04:48.120> of<00:04:48.280> how<00:04:48.560> that<00:04:49.080> works<00:04:50.080> so<00:04:50.320> we<00:04:50.440> have<00:04:50.600> all 00:04:50.790 --> 00:04:50.800 align:start position:0% example of how that works so we have all 00:04:50.800 --> 00:04:53.990 align:start position:0% example of how that works so we have all of<00:04:50.960> the<00:04:51.120> transactions<00:04:51.880> here<00:04:52.160> at<00:04:52.320> the<00:04:52.440> bottom 00:04:53.990 --> 00:04:54.000 align:start position:0% of the transactions here at the bottom 00:04:54.000 --> 00:04:56.230 align:start position:0% of the transactions here at the bottom where<00:04:55.000> these<00:04:55.160> are<00:04:55.280> all<00:04:55.400> the<00:04:55.560> transactions<00:04:56.080> in 00:04:56.230 --> 00:04:56.240 align:start position:0% where these are all the transactions in 00:04:56.240 --> 00:04:58.310 align:start position:0% where these are all the transactions in this<00:04:56.400> block<00:04:56.759> so<00:04:56.919> there's<00:04:57.160> only<00:04:57.360> four<00:04:57.880> for<00:04:58.120> this 00:04:58.310 --> 00:04:58.320 align:start position:0% this block so there's only four for this 00:04:58.320 --> 00:05:00.629 align:start position:0% this block so there's only four for this example<00:04:59.160> so<00:04:59.360> with<00:04:59.639> take<00:04:59.919> for<00:05:00.120> all<00:05:00.280> of<00:05:00.479> these 00:05:00.629 --> 00:05:00.639 align:start position:0% example so with take for all of these 00:05:00.639 --> 00:05:04.870 align:start position:0% example so with take for all of these transactions<00:05:01.280> we<00:05:01.479> hash<00:05:01.919> them<00:05:02.919> Bitcoin<00:05:03.479> uses 00:05:04.870 --> 00:05:04.880 align:start position:0% transactions we hash them Bitcoin uses 00:05:04.880 --> 00:05:07.790 align:start position:0% transactions we hash them Bitcoin uses um<00:05:05.880> a<00:05:06.080> hash<00:05:06.320> that<00:05:06.479> will<00:05:06.639> produce<00:05:06.919> a<00:05:07.039> 32<00:05:07.520> bite 00:05:07.790 --> 00:05:07.800 align:start position:0% um a hash that will produce a 32 bite 00:05:07.800 --> 00:05:10.710 align:start position:0% um a hash that will produce a 32 bite value<00:05:08.800> so<00:05:09.039> that's<00:05:09.199> how<00:05:09.360> we<00:05:09.479> get<00:05:09.720> the<00:05:10.000> that<00:05:10.240> Lev 00:05:10.710 --> 00:05:10.720 align:start position:0% value so that's how we get the that Lev 00:05:10.720 --> 00:05:11.909 align:start position:0% value so that's how we get the that Lev the<00:05:10.960> the<00:05:11.080> level 00:05:11.909 --> 00:05:11.919 align:start position:0% the the level 00:05:11.919 --> 00:05:15.629 align:start position:0% the the level above<00:05:12.919> now<00:05:13.080> for<00:05:13.320> each<00:05:13.680> pair<00:05:14.080> of<00:05:14.639> transaction 00:05:15.629 --> 00:05:15.639 align:start position:0% above now for each pair of transaction 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we hash that again to end up again with another<00:05:25.600> 32<00:05:26.039> by<00:05:26.600> value<00:05:27.600> so<00:05:27.800> at<00:05:27.960> this<00:05:28.160> level<00:05:28.479> we 00:05:28.629 --> 00:05:28.639 align:start position:0% another 32 by value so at this level we 00:05:28.639 --> 00:05:30.830 align:start position:0% another 32 by value so at this level we always<00:05:28.880> take<00:05:29.039> pairs<00:05:29.680> them<00:05:30.039> pairwise 00:05:30.830 --> 00:05:30.840 align:start position:0% always take pairs them pairwise 00:05:30.840 --> 00:05:33.390 align:start position:0% always take pairs them pairwise concatenate<00:05:31.479> them<00:05:31.639> and<00:05:31.759> then<00:05:31.960> hash<00:05:32.319> them<00:05:33.240> and 00:05:33.390 --> 00:05:33.400 align:start position:0% concatenate them and then hash them and 00:05:33.400 --> 00:05:35.350 align:start position:0% concatenate them and then hash them and we<00:05:33.560> keep<00:05:33.759> repeating<00:05:34.160> that<00:05:34.440> process<00:05:35.000> until 00:05:35.350 --> 00:05:35.360 align:start position:0% we keep repeating that process until 00:05:35.360 --> 00:05:38.189 align:start position:0% we keep repeating that process until there's<00:05:35.600> only<00:05:35.919> one<00:05:36.680> hash<00:05:37.080> left<00:05:37.520> and<00:05:37.759> that<00:05:37.960> is 00:05:38.189 --> 00:05:38.199 align:start position:0% there's only one hash left and that is 00:05:38.199 --> 00:05:40.830 align:start position:0% there's only one hash left and that is basically<00:05:38.600> the<00:05:38.720> root<00:05:39.080> of<00:05:39.199> your<00:05:39.360> Merkel 00:05:40.830 --> 00:05:40.840 align:start position:0% basically the root of your Merkel 00:05:40.840 --> 00:05:42.990 align:start position:0% basically the root of your Merkel tree 00:05:42.990 --> 00:05:43.000 align:start position:0% tree 00:05:43.000 --> 00:05:46.469 align:start position:0% tree now<00:05:44.000> with<00:05:44.199> this<00:05:44.400> root<00:05:45.240> you<00:05:45.400> can 00:05:46.469 --> 00:05:46.479 align:start position:0% now with this root you can 00:05:46.479 --> 00:05:48.990 align:start position:0% now with this root you can verify<00:05:47.479> whether<00:05:47.840> there's<00:05:48.080> a<00:05:48.560> whether<00:05:48.800> a 00:05:48.990 --> 00:05:49.000 align:start position:0% verify whether there's a whether a 00:05:49.000 --> 00:05:52.510 align:start position:0% verify whether there's a whether a transaction<00:05:49.759> exists<00:05:50.319> in<00:05:50.600> that<00:05:50.759> block<00:05:51.080> or<00:05:51.520> not 00:05:52.510 --> 00:05:52.520 align:start position:0% transaction exists in that block or not 00:05:52.520 --> 00:05:56.029 align:start position:0% transaction exists in that block or not that<00:05:52.680> that<00:05:52.800> is<00:05:52.919> all<00:05:53.120> that<00:05:53.240> you<00:05:53.360> need<00:05:54.199> and<00:05:54.680> BTC 00:05:56.029 --> 00:05:56.039 align:start position:0% that that is all that you need and BTC 00:05:56.039 --> 00:06:01.270 align:start position:0% that that is all that you need and BTC relay<00:05:57.039> uses<00:05:57.880> just<00:05:58.199> headers<00:05:59.160> to<00:05:59.520> build<00:05:59.680> an<00:05:59.840> SPV 00:06:01.270 --> 00:06:01.280 align:start position:0% relay uses just headers to build an SPV 00:06:01.280 --> 00:06:05.710 align:start position:0% relay uses just headers to build an SPV chain<00:06:02.280> for<00:06:02.560> example<00:06:03.440> suppose<00:06:03.800> you<00:06:04.000> paid<00:06:04.720> LS1 00:06:05.710 --> 00:06:05.720 align:start position:0% chain for example suppose you paid LS1 00:06:05.720 --> 00:06:08.589 align:start position:0% chain for example suppose you paid LS1 Bitcoin<00:06:06.360> in 00:06:08.589 --> 00:06:08.599 align:start position:0% Bitcoin in 00:06:08.599 --> 00:06:12.309 align:start position:0% Bitcoin in tx3<00:06:09.599> now<00:06:10.520> you<00:06:10.680> could<00:06:11.479> you<00:06:11.599> could<00:06:11.840> provide<00:06:12.160> the 00:06:12.309 --> 00:06:12.319 align:start position:0% tx3 now you could you could provide the 00:06:12.319 --> 00:06:14.270 align:start position:0% tx3 now you could you could provide the relay<00:06:12.800> with<00:06:13.080> all<00:06:13.280> the<00:06:13.479> transactions<00:06:14.000> in<00:06:14.120> the 00:06:14.270 --> 00:06:14.280 align:start position:0% relay with all the transactions in the 00:06:14.280 --> 00:06:17.670 align:start position:0% relay with all the transactions in the block<00:06:15.039> all<00:06:15.199> of<00:06:15.639> these<00:06:16.639> the<00:06:16.759> relay<00:06:17.160> would<00:06:17.400> run 00:06:17.670 --> 00:06:17.680 align:start position:0% block all of these the relay would run 00:06:17.680 --> 00:06:20.350 align:start position:0% block all of these the relay would run the<00:06:17.840> algorithm<00:06:18.520> that<00:06:18.759> I<00:06:19.080> just<00:06:19.360> explained<00:06:20.240> it 00:06:20.350 --> 00:06:20.360 align:start position:0% the algorithm that I just explained it 00:06:20.360 --> 00:06:22.589 align:start position:0% the algorithm that I just explained it would<00:06:20.599> compute<00:06:20.960> a<00:06:21.120> Merkel 00:06:22.589 --> 00:06:22.599 align:start position:0% would compute a Merkel 00:06:22.599 --> 00:06:24.950 align:start position:0% would compute a Merkel route<00:06:23.599> and<00:06:23.800> then<00:06:24.120> with<00:06:24.280> that<00:06:24.400> route<00:06:24.680> that<00:06:24.800> it 00:06:24.950 --> 00:06:24.960 align:start position:0% route and then with that route that it 00:06:24.960 --> 00:06:27.230 align:start position:0% route and then with that route that it computed<00:06:25.479> it<00:06:25.599> would<00:06:25.800> just<00:06:26.000> check<00:06:26.720> the<00:06:26.880> actual 00:06:27.230 --> 00:06:27.240 align:start position:0% computed it would just check the actual 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align:start position:0% then then the relay will be will have 00:06:36.840 --> 00:06:40.950 align:start position:0% then then the relay will be will have verified<00:06:37.440> that<00:06:37.759> yes<00:06:38.560> tx3<00:06:39.440> is<00:06:39.759> in<00:06:39.960> this 00:06:40.950 --> 00:06:40.960 align:start position:0% verified that yes tx3 is in this 00:06:40.960 --> 00:06:43.670 align:start position:0% verified that yes tx3 is in this block<00:06:41.960> now<00:06:42.199> it's<00:06:42.440> possible<00:06:42.800> to<00:06:43.000> have<00:06:43.440> um 00:06:43.670 --> 00:06:43.680 align:start position:0% block now it's possible to have um 00:06:43.680 --> 00:06:44.830 align:start position:0% block now it's possible to have um shorter 00:06:44.830 --> 00:06:44.840 align:start position:0% shorter 00:06:44.840 --> 00:06:47.510 align:start position:0% shorter proof<00:06:45.840> instead<00:06:46.120> of<00:06:46.319> having<00:06:46.520> to<00:06:46.639> send<00:06:47.080> all<00:06:47.319> the 00:06:47.510 --> 00:06:47.520 align:start position:0% proof instead of having to send all the 00:06:47.520 --> 00:06:49.029 align:start position:0% proof instead of having to send all the transactions<00:06:48.160> because<00:06:48.360> this<00:06:48.479> could<00:06:48.639> be 00:06:49.029 --> 00:06:49.039 align:start position:0% transactions because this could be 00:06:49.039 --> 00:06:51.189 align:start position:0% transactions because this could be really<00:06:49.360> really<00:06:49.680> long<00:06:50.199> down 00:06:51.189 --> 00:06:51.199 align:start position:0% really really long down 00:06:51.199 --> 00:06:53.110 align:start position:0% really really long down here 00:06:53.110 --> 00:06:53.120 align:start position:0% here 00:06:53.120 --> 00:06:55.990 align:start position:0% here and<00:06:54.120> and<00:06:54.240> for<00:06:54.440> an<00:06:54.599> example<00:06:54.960> for 00:06:55.990 --> 00:06:56.000 align:start position:0% and and for an example for 00:06:56.000 --> 00:06:59.710 align:start position:0% and and for an example for tx3<00:06:57.000> that<00:06:57.720> that<00:06:58.000> Miracle<00:06:58.479> proof<00:06:58.879> would 00:06:59.710 --> 00:06:59.720 align:start position:0% tx3 that that Miracle proof would 00:06:59.720 --> 00:07:04.350 align:start position:0% tx3 that that Miracle proof would include<00:07:00.440> hash<00:07:01.120> two<00:07:02.120> and<00:07:02.400> just<00:07:02.680> hash<00:07:03.120> 01<00:07:04.120> so<00:07:04.240> you 00:07:04.350 --> 00:07:04.360 align:start position:0% include hash two and just hash 01 so you 00:07:04.360 --> 00:07:06.270 align:start position:0% include hash two and just hash 01 so you would<00:07:04.520> just<00:07:04.680> need<00:07:05.000> these<00:07:05.240> two<00:07:05.759> instead<00:07:06.039> of<00:07:06.160> all 00:07:06.270 --> 00:07:06.280 align:start position:0% would just need these two instead of all 00:07:06.280 --> 00:07:07.830 align:start position:0% would just need these two instead of all the<00:07:06.400> transactions<00:07:06.879> in<00:07:07.039> the 00:07:07.830 --> 00:07:07.840 align:start position:0% the transactions in the 00:07:07.840 --> 00:07:10.830 align:start position:0% the transactions in the block 00:07:10.830 --> 00:07:10.840 align:start position:0% block 00:07:10.840 --> 00:07:13.070 align:start position:0% block now<00:07:11.840> I'll<00:07:12.039> I'll<00:07:12.160> have<00:07:12.280> to<00:07:12.400> let<00:07:12.520> you<00:07:12.639> ruminate 00:07:13.070 --> 00:07:13.080 align:start position:0% now I'll I'll have to let you ruminate 00:07:13.080 --> 00:07:15.790 align:start position:0% now I'll I'll have to let you ruminate on<00:07:13.400> that<00:07:14.360> and<00:07:14.840> but<00:07:14.960> you<00:07:15.039> can<00:07:15.160> see<00:07:15.440> that<00:07:15.599> it's 00:07:15.790 --> 00:07:15.800 align:start position:0% on that and but you can see that it's 00:07:15.800 --> 00:07:23.150 align:start position:0% on that and but you can see that it's logarithmically<00:07:17.240> shorter<00:07:18.240> than<00:07:18.720> the<00:07:19.240> naive 00:07:23.150 --> 00:07:23.160 align:start position:0% 00:07:23.160 --> 00:07:25.309 align:start position:0% approach 00:07:25.309 --> 00:07:25.319 align:start position:0% approach 00:07:25.319 --> 00:07:30.110 align:start position:0% approach so<00:07:26.319> here<00:07:26.400> are<00:07:26.680> the<00:07:27.440> apis<00:07:28.440> that<00:07:28.840> the<00:07:29.400> BTC<00:07:29.759> relay 00:07:30.110 --> 00:07:30.120 align:start position:0% so here are the apis that the BTC relay 00:07:30.120 --> 00:07:32.990 align:start position:0% so here are the apis that the BTC relay contract<00:07:31.080> the<00:07:31.639> two<00:07:31.840> main<00:07:32.120> verification<00:07:32.599> apis 00:07:32.990 --> 00:07:33.000 align:start position:0% contract the two main verification apis 00:07:33.000 --> 00:07:37.830 align:start position:0% contract the two main verification apis it<00:07:33.520> exposes<00:07:34.520> verify<00:07:34.960> TX<00:07:35.319> and<00:07:35.440> relay<00:07:35.800> TX<00:07:36.520> so<00:07:37.520> all 00:07:37.830 --> 00:07:37.840 align:start position:0% it exposes verify TX and relay TX so all 00:07:37.840 --> 00:07:40.350 align:start position:0% it exposes verify TX and relay TX so all the<00:07:38.160> all<00:07:38.360> this<00:07:38.639> data<00:07:39.039> here<00:07:39.879> is<00:07:40.160> the 00:07:40.350 --> 00:07:40.360 align:start position:0% the all this data here is the 00:07:40.360 --> 00:07:42.950 align:start position:0% the all this data here is the transaction<00:07:41.160> and<00:07:41.759> merel 00:07:42.950 --> 00:07:42.960 align:start position:0% transaction and merel 00:07:42.960 --> 00:07:46.270 align:start position:0% transaction and merel proof<00:07:43.960> and<00:07:44.159> basically<00:07:44.639> this<00:07:44.840> asks<00:07:45.159> the 00:07:46.270 --> 00:07:46.280 align:start position:0% proof and basically this asks the 00:07:46.280 --> 00:07:50.950 align:start position:0% proof and basically this asks the relay<00:07:47.280> there's<00:07:47.599> this<00:07:48.199> transaction<00:07:49.199> in<00:07:50.039> this 00:07:50.950 --> 00:07:50.960 align:start position:0% relay there's this transaction in this 00:07:50.960 --> 00:07:53.990 align:start position:0% relay there's this transaction in this block<00:07:51.960> it's<00:07:52.159> the<00:07:52.280> nth<00:07:52.680> transaction<00:07:53.440> in<00:07:53.599> this 00:07:53.990 --> 00:07:54.000 align:start position:0% block it's the nth transaction in this 00:07:54.000 --> 00:07:58.309 align:start position:0% block it's the nth transaction in this block<00:07:55.000> is<00:07:55.440> is<00:07:55.639> that<00:07:56.120> valid<00:07:56.680> is<00:07:56.840> that<00:07:57.000> true<00:07:57.800> BTC 00:07:58.309 --> 00:07:58.319 align:start position:0% block is is that valid is that true BTC 00:07:58.319 --> 00:08:01.469 align:start position:0% block is is that valid is that true BTC relay<00:07:58.720> will<00:07:59.000> return<00:07:59.440> true<00:08:00.440> based<00:08:00.680> on<00:08:00.879> three 00:08:01.469 --> 00:08:01.479 align:start position:0% relay will return true based on three 00:08:01.479 --> 00:08:03.749 align:start position:0% relay will return true based on three conditions<00:08:02.479> the<00:08:02.680> first<00:08:03.039> is<00:08:03.360> is<00:08:03.560> this 00:08:03.749 --> 00:08:03.759 align:start position:0% conditions the first is is this 00:08:03.759 --> 00:08:06.830 align:start position:0% conditions the first is is this transaction<00:08:04.520> in<00:08:04.720> that<00:08:05.000> block<00:08:06.000> is<00:08:06.280> that<00:08:06.520> block 00:08:06.830 --> 00:08:06.840 align:start position:0% transaction in that block is that block 00:08:06.840 --> 00:08:10.270 align:start position:0% transaction in that block is that block on<00:08:07.000> the<00:08:07.120> Bitcoin<00:08:07.599> main<00:08:08.319> chain<00:08:09.319> and<00:08:09.680> the<00:08:09.840> third 00:08:10.270 --> 00:08:10.280 align:start position:0% on the Bitcoin main chain and the third 00:08:10.280 --> 00:08:12.510 align:start position:0% on the Bitcoin main chain and the third is<00:08:10.840> does<00:08:11.080> this<00:08:11.240> block<00:08:11.560> have<00:08:11.720> enough<00:08:12.000> six 00:08:12.510 --> 00:08:12.520 align:start position:0% is does this block have enough six 00:08:12.520 --> 00:08:15.510 align:start position:0% is does this block have enough six confirmations<00:08:13.520> at<00:08:13.639> least<00:08:13.919> six 00:08:15.510 --> 00:08:15.520 align:start position:0% confirmations at least six 00:08:15.520 --> 00:08:19.270 align:start position:0% confirmations at least six confirmations<00:08:16.520> the<00:08:16.639> real<00:08:16.919> ATX<00:08:17.800> API<00:08:18.720> is<00:08:19.120> has 00:08:19.270 --> 00:08:19.280 align:start position:0% confirmations the real ATX API is has 00:08:19.280 --> 00:08:22.469 align:start position:0% confirmations the real ATX API is has the<00:08:19.440> same<00:08:19.879> parameters<00:08:20.879> with<00:08:21.080> two<00:08:21.360> additional 00:08:22.469 --> 00:08:22.479 align:start position:0% the same parameters with two additional 00:08:22.479 --> 00:08:25.469 align:start position:0% the same parameters with two additional ones<00:08:23.479> the<00:08:23.639> first<00:08:23.919> additional<00:08:24.319> one<00:08:24.599> is<00:08:25.280> the 00:08:25.469 --> 00:08:25.479 align:start position:0% ones the first additional one is the 00:08:25.479 --> 00:08:28.350 align:start position:0% ones the first additional one is the actual<00:08:26.319> transaction<00:08:27.319> cuz<00:08:27.560> recall<00:08:28.000> that<00:08:28.199> this 00:08:28.350 --> 00:08:28.360 align:start position:0% actual transaction cuz recall that this 00:08:28.360 --> 00:08:30.390 align:start position:0% actual transaction cuz recall that this is<00:08:28.520> only<00:08:28.800> the<00:08:29.000> hash<00:08:29.360> of<00:08:29.479> the<00:08:29.599> transaction<00:08:30.280> so 00:08:30.390 --> 00:08:30.400 align:start position:0% is only the hash of the transaction so 00:08:30.400 --> 00:08:31.909 align:start position:0% is only the hash of the transaction so you've<00:08:30.599> lost<00:08:30.800> a<00:08:30.919> lot<00:08:31.039> of<00:08:31.159> data<00:08:31.440> here<00:08:31.639> but<00:08:31.840> this 00:08:31.909 --> 00:08:31.919 align:start position:0% you've lost a lot of data here but this 00:08:31.919 --> 00:08:35.070 align:start position:0% you've lost a lot of data here but this is<00:08:32.680> all<00:08:32.919> the<00:08:33.519> inputs<00:08:34.039> outputs<00:08:34.440> of<00:08:34.560> the<00:08:34.680> Bitcoin 00:08:35.070 --> 00:08:35.080 align:start position:0% is all the inputs outputs of the Bitcoin 00:08:35.080 --> 00:08:38.670 align:start position:0% is all the inputs outputs of the Bitcoin transaction<00:08:35.800> it's<00:08:36.279> arbitrary<00:08:37.279> and<00:08:37.519> then<00:08:38.240> the 00:08:38.670 --> 00:08:38.680 align:start position:0% transaction it's arbitrary and then the 00:08:38.680 --> 00:08:41.350 align:start position:0% transaction it's arbitrary and then the additional<00:08:39.159> parameter<00:08:39.719> is<00:08:40.279> your<00:08:40.680> contract 00:08:41.350 --> 00:08:41.360 align:start position:0% additional parameter is your contract 00:08:41.360 --> 00:08:43.509 align:start position:0% additional parameter is your contract address<00:08:42.360> where<00:08:42.560> you<00:08:42.680> want<00:08:42.839> to<00:08:42.959> be<00:08:43.120> able<00:08:43.320> to 00:08:43.509 --> 00:08:43.519 align:start position:0% address where you want to be able to 00:08:43.519 --> 00:08:47.710 align:start position:0% address where you want to be able to process<00:08:44.120> these 00:08:47.710 --> 00:08:47.720 align:start position:0% 00:08:47.720 --> 00:08:50.030 align:start position:0% transactions<00:08:48.720> there<00:08:49.000> there<00:08:49.080> are<00:08:49.279> two<00:08:49.519> main 00:08:50.030 --> 00:08:50.040 align:start position:0% transactions there there are two main 00:08:50.040 --> 00:08:52.389 align:start position:0% transactions there there are two main parties<00:08:50.480> in<00:08:50.920> BTC 00:08:52.389 --> 00:08:52.399 align:start position:0% parties in BTC 00:08:52.399 --> 00:08:55.070 align:start position:0% parties in BTC relay<00:08:53.399> the<00:08:53.680> Rel<00:08:53.920> layers<00:08:54.320> who<00:08:54.640> submit<00:08:55.000> the 00:08:55.070 --> 00:08:55.080 align:start position:0% relay the Rel layers who submit the 00:08:55.080 --> 00:08:56.949 align:start position:0% relay the Rel layers who submit the block<00:08:55.360> headers<00:08:55.959> which<00:08:56.080> are<00:08:56.279> used<00:08:56.560> to<00:08:56.720> build 00:08:56.949 --> 00:08:56.959 align:start position:0% block headers which are used to build 00:08:56.959 --> 00:08:59.870 align:start position:0% block headers which are used to build the<00:08:57.040> SPV<00:08:57.560> chain<00:08:58.399> and<00:08:58.640> verifiers 00:08:59.870 --> 00:08:59.880 align:start position:0% the SPV chain and verifiers 00:08:59.880 --> 00:09:05.870 align:start position:0% the SPV chain and verifiers to<00:09:00.880> uh<00:09:01.600> verify<00:09:02.600> Bitcoin<00:09:03.040> payments<00:09:03.440> and 00:09:05.870 --> 00:09:05.880 align:start position:0% 00:09:05.880 --> 00:09:08.910 align:start position:0% transactions 00:09:08.910 --> 00:09:08.920 align:start position:0% 00:09:08.920 --> 00:09:12.069 align:start position:0% and<00:09:09.920> so<00:09:10.680> every<00:09:10.920> 10<00:09:11.160> minutes<00:09:11.560> there's<00:09:11.760> a<00:09:11.880> new 00:09:12.069 --> 00:09:12.079 align:start position:0% and so every 10 minutes there's a new 00:09:12.079 --> 00:09:14.230 align:start position:0% and so every 10 minutes there's a new Bitcoin<00:09:12.440> block<00:09:12.839> and<00:09:13.160> BTC<00:09:13.560> really<00:09:13.800> needs<00:09:14.079> that 00:09:14.230 --> 00:09:14.240 align:start position:0% Bitcoin block and BTC really needs that 00:09:14.240 --> 00:09:16.829 align:start position:0% Bitcoin block and BTC really needs that header<00:09:14.760> so<00:09:14.959> this<00:09:15.160> leads<00:09:15.399> to<00:09:15.560> the<00:09:15.720> Third<00:09:16.000> Secret 00:09:16.829 --> 00:09:16.839 align:start position:0% header so this leads to the Third Secret 00:09:16.839 --> 00:09:20.350 align:start position:0% header so this leads to the Third Secret which<00:09:17.839> is<00:09:18.480> having<00:09:19.000> incentives<00:09:20.000> for<00:09:20.200> the 00:09:20.350 --> 00:09:20.360 align:start position:0% which is having incentives for the 00:09:20.360 --> 00:09:23.630 align:start position:0% which is having incentives for the community<00:09:20.680> to<00:09:20.800> be<00:09:21.320> relays<00:09:22.320> so<00:09:22.600> that<00:09:23.320> their 00:09:23.630 --> 00:09:23.640 align:start position:0% community to be relays so that their 00:09:23.640 --> 00:09:26.069 align:start position:0% community to be relays so that their contract<00:09:24.160> itself<00:09:24.600> the<00:09:24.839> BTC<00:09:25.279> relay<00:09:25.640> contract 00:09:26.069 --> 00:09:26.079 align:start position:0% contract itself the BTC relay contract 00:09:26.079 --> 00:09:27.910 align:start position:0% contract itself the BTC relay contract is 00:09:27.910 --> 00:09:27.920 align:start position:0% is 00:09:27.920 --> 00:09:31.509 align:start position:0% is autonomous<00:09:28.920> now<00:09:29.200> now<00:09:29.399> there<00:09:29.480> are 00:09:31.509 --> 00:09:31.519 align:start position:0% autonomous now now there are 00:09:31.519 --> 00:09:35.190 align:start position:0% autonomous now now there are different<00:09:32.519> incentive<00:09:33.399> uh<00:09:33.959> plans<00:09:34.519> and<00:09:34.760> ideas 00:09:35.190 --> 00:09:35.200 align:start position:0% different incentive uh plans and ideas 00:09:35.200 --> 00:09:37.829 align:start position:0% different incentive uh plans and ideas that<00:09:35.320> were<00:09:35.600> considered<00:09:36.560> but<00:09:37.160> given<00:09:37.399> limited 00:09:37.829 --> 00:09:37.839 align:start position:0% that were considered but given limited 00:09:37.839 --> 00:09:40.910 align:start position:0% that were considered but given limited time<00:09:38.200> I<00:09:38.279> will<00:09:38.519> discuss<00:09:38.839> the<00:09:39.000> current<00:09:39.720> one<00:09:40.720> in 00:09:40.910 --> 00:09:40.920 align:start position:0% time I will discuss the current one in 00:09:40.920 --> 00:09:41.990 align:start position:0% time I will discuss the current one in this<00:09:41.079> current 00:09:41.990 --> 00:09:42.000 align:start position:0% this current 00:09:42.000 --> 00:09:46.150 align:start position:0% this current one<00:09:43.000> when<00:09:43.720> when<00:09:43.839> a<00:09:44.000> relayer<00:09:44.720> submits<00:09:45.240> a<00:09:45.440> header 00:09:46.150 --> 00:09:46.160 align:start position:0% one when when a relayer submits a header 00:09:46.160 --> 00:09:48.030 align:start position:0% one when when a relayer submits a header they<00:09:46.279> get<00:09:46.440> to<00:09:46.560> see<00:09:46.800> a<00:09:46.959> fee<00:09:47.160> for<00:09:47.360> that 00:09:48.030 --> 00:09:48.040 align:start position:0% they get to see a fee for that 00:09:48.040 --> 00:09:51.110 align:start position:0% they get to see a fee for that header<00:09:49.040> now<00:09:49.320> the<00:09:49.600> the<00:09:49.720> verifier<00:09:50.519> who<00:09:50.680> uses 00:09:51.110 --> 00:09:51.120 align:start position:0% header now the the verifier who uses 00:09:51.120 --> 00:09:53.389 align:start position:0% header now the the verifier who uses that<00:09:51.640> who<00:09:51.839> has<00:09:52.000> a<00:09:52.200> payment<00:09:52.560> or<00:09:52.760> transaction<00:09:53.200> in 00:09:53.389 --> 00:09:53.399 align:start position:0% that who has a payment or transaction in 00:09:53.399 --> 00:09:55.990 align:start position:0% that who has a payment or transaction in that<00:09:53.600> block<00:09:54.480> needs<00:09:54.720> to<00:09:54.920> pay<00:09:55.120> that<00:09:55.279> fee<00:09:55.720> to<00:09:55.880> the 00:09:55.990 --> 00:09:56.000 align:start position:0% that block needs to pay that fee to the 00:09:56.000 --> 00:09:58.949 align:start position:0% that block needs to pay that fee to the fee<00:09:56.519> recipient<00:09:57.519> the<00:09:57.640> initial<00:09:57.959> fee<00:09:58.279> recipient 00:09:58.949 --> 00:09:58.959 align:start position:0% fee recipient the initial fee recipient 00:09:58.959 --> 00:09:59.750 align:start position:0% fee recipient the initial fee recipient is 00:09:59.750 --> 00:09:59.760 align:start position:0% is 00:09:59.760 --> 00:10:02.829 align:start position:0% is is<00:10:00.760> is<00:10:00.920> the<00:10:01.040> relayer<00:10:02.000> so<00:10:02.200> for<00:10:02.360> example<00:10:02.680> it's 00:10:02.829 --> 00:10:02.839 align:start position:0% is is the relayer so for example it's 00:10:02.839 --> 00:10:03.990 align:start position:0% is is the relayer so for example it's called<00:10:03.040> him 00:10:03.990 --> 00:10:04.000 align:start position:0% called him 00:10:04.000 --> 00:10:07.310 align:start position:0% called him Romeo<00:10:05.000> now<00:10:05.200> to<00:10:05.399> prevent<00:10:05.760> excessive 00:10:07.310 --> 00:10:07.320 align:start position:0% Romeo now to prevent excessive 00:10:07.320 --> 00:10:10.670 align:start position:0% Romeo now to prevent excessive fees<00:10:08.320> there<00:10:08.480> could<00:10:08.680> be<00:10:09.320> another<00:10:10.120> person<00:10:10.440> or 00:10:10.670 --> 00:10:10.680 align:start position:0% fees there could be another person or 00:10:10.680 --> 00:10:13.710 align:start position:0% fees there could be another person or party<00:10:11.320> it's<00:10:11.560> called<00:10:11.959> Tango<00:10:12.640> Tango<00:10:13.160> decides<00:10:13.560> to 00:10:13.710 --> 00:10:13.720 align:start position:0% party it's called Tango Tango decides to 00:10:13.720 --> 00:10:14.910 align:start position:0% party it's called Tango Tango decides to pay<00:10:13.880> an<00:10:14.040> amount 00:10:14.910 --> 00:10:14.920 align:start position:0% pay an amount 00:10:14.920 --> 00:10:20.630 align:start position:0% pay an amount C<00:10:16.160> to<00:10:17.160> relayer<00:10:18.240> Romeo<00:10:19.240> now<00:10:19.519> what<00:10:19.760> what<00:10:19.959> happens 00:10:20.630 --> 00:10:20.640 align:start position:0% C to relayer Romeo now what what happens 00:10:20.640 --> 00:10:23.670 align:start position:0% C to relayer Romeo now what what happens is<00:10:20.880> now<00:10:21.160> Tango<00:10:21.680> gets<00:10:21.920> to<00:10:22.079> become<00:10:22.320> the<00:10:22.440> fee 00:10:23.670 --> 00:10:23.680 align:start position:0% is now Tango gets to become the fee 00:10:23.680 --> 00:10:26.790 align:start position:0% is now Tango gets to become the fee recipient<00:10:24.680> so<00:10:24.959> any<00:10:25.200> future<00:10:25.839> verifications 00:10:26.790 --> 00:10:26.800 align:start position:0% recipient so any future verifications 00:10:26.800 --> 00:10:30.470 align:start position:0% recipient so any future verifications there<00:10:27.440> Tango<00:10:27.839> will<00:10:28.000> receive<00:10:28.279> the<00:10:28.399> fees 00:10:30.470 --> 00:10:30.480 align:start position:0% there Tango will receive the fees 00:10:30.480 --> 00:10:33.750 align:start position:0% there Tango will receive the fees but<00:10:30.800> to<00:10:31.079> also<00:10:31.560> in<00:10:31.720> addition<00:10:32.000> to<00:10:32.160> paying<00:10:32.760> C 00:10:33.750 --> 00:10:33.760 align:start position:0% but to also in addition to paying C 00:10:33.760 --> 00:10:37.509 align:start position:0% but to also in addition to paying C Tango<00:10:34.200> would<00:10:34.360> have<00:10:34.600> had<00:10:35.240> to<00:10:36.240> also<00:10:36.600> set<00:10:36.880> a<00:10:37.160> fee 00:10:37.509 --> 00:10:37.519 align:start position:0% Tango would have had to also set a fee 00:10:37.519 --> 00:10:40.750 align:start position:0% Tango would have had to also set a fee lower<00:10:38.399> than<00:10:38.600> what<00:10:38.800> Romeo<00:10:39.279> had 00:10:40.750 --> 00:10:40.760 align:start position:0% lower than what Romeo had 00:10:40.760 --> 00:10:44.910 align:start position:0% lower than what Romeo had set<00:10:41.760> and<00:10:41.920> C<00:10:42.200> is<00:10:42.399> roughly<00:10:42.839> double<00:10:43.560> the<00:10:44.560> double 00:10:44.910 --> 00:10:44.920 align:start position:0% set and C is roughly double the double 00:10:44.920 --> 00:10:46.790 align:start position:0% set and C is roughly double the double the<00:10:45.079> amount<00:10:45.399> that<00:10:45.560> it<00:10:45.720> initially<00:10:46.120> cost<00:10:46.399> Romeo 00:10:46.790 --> 00:10:46.800 align:start position:0% the amount that it initially cost Romeo 00:10:46.800 --> 00:10:49.190 align:start position:0% the amount that it initially cost Romeo to<00:10:46.920> submit<00:10:47.200> the 00:10:49.190 --> 00:10:49.200 align:start position:0% to submit the 00:10:49.200 --> 00:10:52.790 align:start position:0% to submit the header<00:10:50.200> to<00:10:50.600> to<00:10:50.760> be<00:10:50.880> a<00:10:51.079> relayer<00:10:51.760> and<00:10:52.399> uh<00:10:52.519> earn 00:10:52.790 --> 00:10:52.800 align:start position:0% header to to be a relayer and uh earn 00:10:52.800 --> 00:10:56.990 align:start position:0% header to to be a relayer and uh earn some<00:10:53.120> ether<00:10:53.680> there's<00:10:54.040> this<00:10:54.880> repository<00:10:56.000> here 00:10:56.990 --> 00:10:57.000 align:start position:0% some ether there's this repository here 00:10:57.000 --> 00:10:58.829 align:start position:0% some ether there's this repository here where<00:10:57.320> it's<00:10:57.920> right<00:10:58.079> now<00:10:58.240> it's<00:10:58.360> a<00:10:58.480> currently<00:10:58.760> a 00:10:58.829 --> 00:10:58.839 align:start position:0% where it's right now it's a currently a 00:10:58.839 --> 00:11:02.629 align:start position:0% where it's right now it's a currently a Comm<00:10:59.240> line<00:10:59.440> tool<00:11:00.040> that<00:11:00.639> accept<00:11:01.200> that<00:11:01.639> uh 00:11:02.629 --> 00:11:02.639 align:start position:0% Comm line tool that accept that uh 00:11:02.639 --> 00:11:04.829 align:start position:0% Comm line tool that accept that uh fetches<00:11:03.360> block<00:11:03.680> block<00:11:03.959> headers<00:11:04.440> using<00:11:04.680> a 00:11:04.829 --> 00:11:04.839 align:start position:0% fetches block block headers using a 00:11:04.839 --> 00:11:06.670 align:start position:0% fetches block block headers using a Bitcoin<00:11:05.240> block<00:11:05.560> Explorer<00:11:06.360> like 00:11:06.670 --> 00:11:06.680 align:start position:0% Bitcoin block Explorer like 00:11:06.680 --> 00:11:09.230 align:start position:0% Bitcoin block Explorer like blockchain.info<00:11:07.800> Compares<00:11:08.800> it<00:11:08.959> with<00:11:09.120> what 00:11:09.230 --> 00:11:09.240 align:start position:0% blockchain.info Compares it with what 00:11:09.240 --> 00:11:11.990 align:start position:0% blockchain.info Compares it with what the<00:11:09.360> relay<00:11:09.839> has<00:11:10.320> and<00:11:10.560> submits<00:11:11.560> the<00:11:11.680> ones<00:11:11.920> the 00:11:11.990 --> 00:11:12.000 align:start position:0% the relay has and submits the ones the 00:11:12.000 --> 00:11:13.230 align:start position:0% the relay has and submits the ones the relay<00:11:12.320> doesn't 00:11:13.230 --> 00:11:13.240 align:start position:0% relay doesn't 00:11:13.240 --> 00:11:16.990 align:start position:0% relay doesn't have<00:11:14.240> and<00:11:15.160> it's<00:11:15.279> on<00:11:15.480> a<00:11:15.839> public<00:11:16.200> test<00:11:16.519> net<00:11:16.800> so 00:11:16.990 --> 00:11:17.000 align:start position:0% have and it's on a public test net so 00:11:17.000 --> 00:11:18.910 align:start position:0% have and it's on a public test net so you<00:11:17.079> don't<00:11:17.240> need<00:11:17.399> to<00:11:17.519> spend<00:11:17.760> real<00:11:18.079> ether<00:11:18.800> and 00:11:18.910 --> 00:11:18.920 align:start position:0% you don't need to spend real ether and 00:11:18.920 --> 00:11:20.670 align:start position:0% you don't need to spend real ether and you<00:11:19.000> don't<00:11:19.200> have<00:11:19.320> to<00:11:19.440> worry<00:11:19.720> about<00:11:20.399> what's 00:11:20.670 --> 00:11:20.680 align:start position:0% you don't have to worry about what's 00:11:20.680 --> 00:11:22.590 align:start position:0% you don't have to worry about what's this<00:11:20.880> unlocked<00:11:21.440> account<00:11:22.040> that<00:11:22.160> you<00:11:22.279> have<00:11:22.440> to 00:11:22.590 --> 00:11:22.600 align:start position:0% this unlocked account that you have to 00:11:22.600 --> 00:11:26.389 align:start position:0% this unlocked account that you have to provide<00:11:23.440> here<00:11:24.440> there's<00:11:24.680> more<00:11:25.120> information 00:11:26.389 --> 00:11:26.399 align:start position:0% provide here there's more information 00:11:26.399 --> 00:11:29.949 align:start position:0% provide here there's more information and<00:11:27.399> I'm<00:11:27.560> going<00:11:27.720> to<00:11:27.880> give<00:11:28.040> an<00:11:28.200> example<00:11:28.600> of<00:11:28.800> um 00:11:29.949 --> 00:11:29.959 align:start position:0% and I'm going to give an example of um 00:11:29.959 --> 00:11:33.829 align:start position:0% and I'm going to give an example of um extensibility<00:11:30.959> so<00:11:31.519> a<00:11:31.720> basic<00:11:32.240> CH<00:11:32.600> side<00:11:32.839> chain 00:11:33.829 --> 00:11:33.839 align:start position:0% extensibility so a basic CH side chain 00:11:33.839 --> 00:11:35.509 align:start position:0% extensibility so a basic CH side chain flow 00:11:35.509 --> 00:11:35.519 align:start position:0% flow 00:11:35.519 --> 00:11:38.870 align:start position:0% flow is<00:11:36.519> you<00:11:36.720> have<00:11:37.600> let's<00:11:38.160> consider<00:11:38.560> that<00:11:38.720> your 00:11:38.870 --> 00:11:38.880 align:start position:0% is you have let's consider that your 00:11:38.880 --> 00:11:41.910 align:start position:0% is you have let's consider that your Bitcoin<00:11:39.240> blockchain<00:11:39.639> is<00:11:40.160> here<00:11:41.160> and<00:11:41.399> your<00:11:41.639> side 00:11:41.910 --> 00:11:41.920 align:start position:0% Bitcoin blockchain is here and your side 00:11:41.920 --> 00:11:45.470 align:start position:0% Bitcoin blockchain is here and your side chain<00:11:42.839> your<00:11:43.040> side<00:11:43.279> chain<00:11:43.519> is<00:11:43.920> here 00:11:45.470 --> 00:11:45.480 align:start position:0% chain your side chain is here 00:11:45.480 --> 00:11:49.030 align:start position:0% chain your side chain is here now<00:11:46.480> time<00:11:46.680> is<00:11:46.839> going<00:11:47.120> vertically<00:11:48.040> downwards 00:11:49.030 --> 00:11:49.040 align:start position:0% now time is going vertically downwards 00:11:49.040 --> 00:11:52.350 align:start position:0% now time is going vertically downwards so<00:11:49.760> at<00:11:49.920> the<00:11:50.120> start<00:11:50.880> in<00:11:51.480> Bitcoin<00:11:52.120> and<00:11:52.240> the 00:11:52.350 --> 00:11:52.360 align:start position:0% so at the start in Bitcoin and the 00:11:52.360 --> 00:11:54.910 align:start position:0% so at the start in Bitcoin and the Bitcoin<00:11:52.680> blockchain<00:11:53.040> you<00:11:53.160> lock<00:11:53.399> some<00:11:53.959> BTC 00:11:54.910 --> 00:11:54.920 align:start position:0% Bitcoin blockchain you lock some BTC 00:11:54.920 --> 00:11:57.550 align:start position:0% Bitcoin blockchain you lock some BTC let's<00:11:55.120> call<00:11:55.320> that<00:11:55.440> a<00:11:55.600> lock<00:11:55.839> BTC 00:11:57.550 --> 00:11:57.560 align:start position:0% let's call that a lock BTC 00:11:57.560 --> 00:11:59.629 align:start position:0% let's call that a lock BTC transaction<00:11:58.560> now<00:11:58.760> when<00:11:59.040> appr<00:11:59.200> proof<00:11:59.360> of<00:11:59.519> that 00:11:59.629 --> 00:11:59.639 align:start position:0% transaction now when appr proof of that 00:11:59.639 --> 00:12:01.910 align:start position:0% transaction now when appr proof of that is<00:11:59.760> sent<00:11:59.959> to<00:12:00.079> a<00:12:00.279> side<00:12:00.519> chain<00:12:01.360> then<00:12:01.480> the<00:12:01.680> side 00:12:01.910 --> 00:12:01.920 align:start position:0% is sent to a side chain then the side 00:12:01.920 --> 00:12:05.790 align:start position:0% is sent to a side chain then the side chain<00:12:02.279> can<00:12:02.680> create<00:12:03.680> some<00:12:03.959> side<00:12:04.200> chain<00:12:04.440> tokens 00:12:05.790 --> 00:12:05.800 align:start position:0% chain can create some side chain tokens 00:12:05.800 --> 00:12:09.750 align:start position:0% chain can create some side chain tokens here<00:12:06.800> uh<00:12:07.639> and<00:12:07.880> then<00:12:08.720> you<00:12:08.839> know<00:12:09.079> time<00:12:09.279> goes<00:12:09.519> by 00:12:09.750 --> 00:12:09.760 align:start position:0% here uh and then you know time goes by 00:12:09.760 --> 00:12:11.230 align:start position:0% here uh and then you know time goes by and<00:12:10.279> let's<00:12:10.440> say<00:12:10.639> we<00:12:10.760> want<00:12:10.880> to<00:12:11.000> get<00:12:11.120> the 00:12:11.230 --> 00:12:11.240 align:start position:0% and let's say we want to get the 00:12:11.240 --> 00:12:14.590 align:start position:0% and let's say we want to get the Bitcoins<00:12:12.040> back<00:12:13.040> okay<00:12:13.399> now<00:12:13.680> those<00:12:14.160> side<00:12:14.399> chain 00:12:14.590 --> 00:12:14.600 align:start position:0% Bitcoins back okay now those side chain 00:12:14.600 --> 00:12:17.269 align:start position:0% Bitcoins back okay now those side chain tokens<00:12:14.959> are<00:12:15.600> destroyed<00:12:16.600> and<00:12:16.720> then<00:12:16.880> when<00:12:17.079> those 00:12:17.269 --> 00:12:17.279 align:start position:0% tokens are destroyed and then when those 00:12:17.279 --> 00:12:19.110 align:start position:0% tokens are destroyed and then when those side<00:12:17.480> chain<00:12:17.720> tokens<00:12:18.040> are<00:12:18.240> destroyed<00:12:18.720> a<00:12:18.880> proof 00:12:19.110 --> 00:12:19.120 align:start position:0% side chain tokens are destroyed a proof 00:12:19.120 --> 00:12:21.829 align:start position:0% side chain tokens are destroyed a proof of<00:12:19.279> it<00:12:20.040> is<00:12:20.199> sent<00:12:21.040> back<00:12:21.199> and<00:12:21.360> verified<00:12:21.720> in 00:12:21.829 --> 00:12:21.839 align:start position:0% of it is sent back and verified in 00:12:21.839 --> 00:12:25.389 align:start position:0% of it is sent back and verified in Bitcoin<00:12:22.199> blockchain<00:12:23.160> over<00:12:23.639> here<00:12:24.639> and<00:12:25.040> that's 00:12:25.389 --> 00:12:25.399 align:start position:0% Bitcoin blockchain over here and that's 00:12:25.399 --> 00:12:27.910 align:start position:0% Bitcoin blockchain over here and that's how<00:12:26.399> this<00:12:26.800> uh<00:12:27.000> the<00:12:27.120> Bitcoin<00:12:27.440> blockchain<00:12:27.800> can 00:12:27.910 --> 00:12:27.920 align:start position:0% how this uh the Bitcoin blockchain can 00:12:27.920 --> 00:12:30.629 align:start position:0% how this uh the Bitcoin blockchain can then<00:12:28.079> unlock<00:12:28.399> the<00:12:28.519> original<00:12:29.079> BTC<00:12:29.600> that<00:12:29.720> was 00:12:30.629 --> 00:12:30.639 align:start position:0% then unlock the original BTC that was 00:12:30.639 --> 00:12:33.670 align:start position:0% then unlock the original BTC that was locked<00:12:31.639> so<00:12:32.040> in<00:12:32.240> this<00:12:32.519> short<00:12:32.880> example<00:12:33.360> you<00:12:33.480> can 00:12:33.670 --> 00:12:33.680 align:start position:0% locked so in this short example you can 00:12:33.680 --> 00:12:36.430 align:start position:0% locked so in this short example you can see<00:12:33.920> that<00:12:34.079> if<00:12:34.199> you're<00:12:34.399> a<00:12:34.480> side<00:12:34.720> chain<00:12:35.440> contract 00:12:36.430 --> 00:12:36.440 align:start position:0% see that if you're a side chain contract 00:12:36.440 --> 00:12:38.389 align:start position:0% see that if you're a side chain contract the<00:12:36.600> the<00:12:36.680> first<00:12:37.079> part<00:12:37.639> where<00:12:37.839> there's<00:12:38.040> a<00:12:38.160> lock 00:12:38.389 --> 00:12:38.399 align:start position:0% the the first part where there's a lock 00:12:38.399 --> 00:12:40.389 align:start position:0% the the first part where there's a lock BTC<00:12:38.839> transaction<00:12:39.440> you<00:12:39.560> can<00:12:39.720> just<00:12:39.959> pass<00:12:40.199> that 00:12:40.389 --> 00:12:40.399 align:start position:0% BTC transaction you can just pass that 00:12:40.399 --> 00:12:43.350 align:start position:0% BTC transaction you can just pass that to<00:12:41.399> BTC<00:12:41.839> relay<00:12:42.199> to<00:12:42.360> get<00:12:42.519> the<00:12:42.639> answer<00:12:42.920> of<00:12:43.199> if 00:12:43.350 --> 00:12:43.360 align:start position:0% to BTC relay to get the answer of if 00:12:43.360 --> 00:12:49.189 align:start position:0% to BTC relay to get the answer of if that<00:12:43.480> lock<00:12:43.760> BTC<00:12:44.240> transaction<00:12:44.720> has<00:12:44.959> been 00:12:49.189 --> 00:12:49.199 align:start position:0% 00:12:49.199 --> 00:12:53.750 align:start position:0% confirmed<00:12:50.199> now<00:12:50.760> an<00:12:51.040> example<00:12:52.000> for<00:12:53.000> integrating 00:12:53.750 --> 00:12:53.760 align:start position:0% confirmed now an example for integrating 00:12:53.760 --> 00:12:55.790 align:start position:0% confirmed now an example for integrating it<00:12:53.920> into<00:12:54.199> a 00:12:55.790 --> 00:12:55.800 align:start position:0% it into a 00:12:55.800 --> 00:13:00.069 align:start position:0% it into a Dap<00:12:57.240> there's<00:12:58.240> so<00:12:58.880> this<00:12:59.040> example<00:12:59.360> is<00:12:59.720> basically 00:13:00.069 --> 00:13:00.079 align:start position:0% Dap there's so this example is basically 00:13:00.079 --> 00:13:03.870 align:start position:0% Dap there's so this example is basically adding<00:13:00.440> a<00:13:00.639> just<00:13:00.839> another<00:13:01.279> contract<00:13:02.440> to<00:13:03.440> to 00:13:03.870 --> 00:13:03.880 align:start position:0% adding a just another contract to to 00:13:03.880 --> 00:13:08.870 align:start position:0% adding a just another contract to to whatever<00:13:04.480> dap<00:13:04.760> you<00:13:05.320> have<00:13:06.440> and<00:13:07.440> two<00:13:07.720> important 00:13:08.870 --> 00:13:08.880 align:start position:0% whatever dap you have and two important 00:13:08.880 --> 00:13:11.310 align:start position:0% whatever dap you have and two important points<00:13:09.880> the<00:13:10.000> ones<00:13:10.320> in 00:13:11.310 --> 00:13:11.320 align:start position:0% points the ones in 00:13:11.320 --> 00:13:14.430 align:start position:0% points the ones in blue<00:13:12.320> the<00:13:12.519> first<00:13:12.959> point<00:13:13.399> is<00:13:13.760> you<00:13:13.920> need<00:13:14.120> to<00:13:14.279> have 00:13:14.430 --> 00:13:14.440 align:start position:0% blue the first point is you need to have 00:13:14.440 --> 00:13:17.509 align:start position:0% blue the first point is you need to have a<00:13:14.639> process<00:13:15.199> transaction<00:13:16.199> function<00:13:16.800> with<00:13:17.240> this 00:13:17.509 --> 00:13:17.519 align:start position:0% a process transaction function with this 00:13:17.519 --> 00:13:18.550 align:start position:0% a process transaction function with this exact 00:13:18.550 --> 00:13:18.560 align:start position:0% exact 00:13:18.560 --> 00:13:21.790 align:start position:0% exact signature<00:13:19.560> if<00:13:19.720> the<00:13:19.839> signature<00:13:20.279> doesn't<00:13:20.680> match 00:13:21.790 --> 00:13:21.800 align:start position:0% signature if the signature doesn't match 00:13:21.800 --> 00:13:25.590 align:start position:0% signature if the signature doesn't match then<00:13:22.800> it<00:13:23.279> won't<00:13:24.279> your<00:13:24.560> contract<00:13:24.959> won't<00:13:25.320> get 00:13:25.590 --> 00:13:25.600 align:start position:0% then it won't your contract won't get 00:13:25.600 --> 00:13:29.430 align:start position:0% then it won't your contract won't get the<00:13:25.760> data<00:13:26.040> that<00:13:26.160> BTC<00:13:26.639> relay<00:13:27.040> is<00:13:27.199> sending<00:13:27.760> it 00:13:29.430 --> 00:13:29.440 align:start position:0% the data that BTC relay is sending it 00:13:29.440 --> 00:13:31.670 align:start position:0% the data that BTC relay is sending it the<00:13:29.639> second<00:13:29.959> important<00:13:30.399> point<00:13:30.880> is<00:13:31.399> you<00:13:31.560> have 00:13:31.670 --> 00:13:31.680 align:start position:0% the second important point is you have 00:13:31.680 --> 00:13:34.509 align:start position:0% the second important point is you have to<00:13:31.839> check<00:13:32.079> that<00:13:32.440> message<00:13:32.800> sender<00:13:33.360> is<00:13:33.720> BTC 00:13:34.509 --> 00:13:34.519 align:start position:0% to check that message sender is BTC 00:13:34.519 --> 00:13:37.870 align:start position:0% to check that message sender is BTC relay<00:13:35.519> otherwise<00:13:36.160> your<00:13:36.560> contract<00:13:37.440> anyone<00:13:37.760> can 00:13:37.870 --> 00:13:37.880 align:start position:0% relay otherwise your contract anyone can 00:13:37.880 --> 00:13:41.829 align:start position:0% relay otherwise your contract anyone can send<00:13:38.120> your<00:13:38.320> contract<00:13:38.880> for<00:13:39.160> fake 00:13:41.829 --> 00:13:41.839 align:start position:0% 00:13:41.839 --> 00:13:44.949 align:start position:0% transactions<00:13:42.839> and<00:13:43.240> as<00:13:43.560> as<00:13:43.720> this<00:13:44.199> sample<00:13:44.560> does 00:13:44.949 --> 00:13:44.959 align:start position:0% transactions and as as this sample does 00:13:44.959 --> 00:13:48.430 align:start position:0% transactions and as as this sample does it's<00:13:45.199> recommended<00:13:46.120> to<00:13:47.120> to<00:13:47.600> uh<00:13:47.880> set<00:13:48.320> the 00:13:48.430 --> 00:13:48.440 align:start position:0% it's recommended to to uh set the 00:13:48.440 --> 00:13:50.509 align:start position:0% it's recommended to to uh set the address<00:13:48.720> of<00:13:48.839> BTC<00:13:49.199> relay<00:13:49.480> in<00:13:49.560> a 00:13:50.509 --> 00:13:50.519 align:start position:0% address of BTC relay in a 00:13:50.519 --> 00:13:54.230 align:start position:0% address of BTC relay in a Constructor<00:13:51.519> there's<00:13:52.040> a<00:13:53.040> minor<00:13:53.759> minor<00:13:54.040> thing 00:13:54.230 --> 00:13:54.240 align:start position:0% Constructor there's a minor minor thing 00:13:54.240 --> 00:13:56.150 align:start position:0% Constructor there's a minor minor thing about<00:13:54.560> deliberately<00:13:55.160> emitting<00:13:55.519> braces<00:13:55.959> there 00:13:56.150 --> 00:13:56.160 align:start position:0% about deliberately emitting braces there 00:13:56.160 --> 00:13:59.550 align:start position:0% about deliberately emitting braces there just<00:13:56.480> so<00:13:56.639> it<00:13:56.800> fits<00:13:57.000> on<00:13:57.160> the<00:13:57.759> slides 00:13:59.550 --> 00:13:59.560 align:start position:0% just so it fits on the slides 00:13:59.560 --> 00:14:00.629 align:start position:0% just so it fits on the slides there<00:13:59.759> there<00:13:59.839> are<00:14:00.000> other<00:14:00.199> things<00:14:00.399> that<00:14:00.519> you 00:14:00.629 --> 00:14:00.639 align:start position:0% there there are other things that you 00:14:00.639 --> 00:14:03.269 align:start position:0% there there are other things that you also<00:14:01.120> will<00:14:01.279> want<00:14:01.399> to<00:14:01.560> do<00:14:01.839> afterwards<00:14:02.720> right<00:14:03.040> so 00:14:03.269 --> 00:14:03.279 align:start position:0% also will want to do afterwards right so 00:14:03.279 --> 00:14:05.269 align:start position:0% also will want to do afterwards right so for<00:14:03.519> example<00:14:03.959> you<00:14:04.279> probably<00:14:04.560> want<00:14:04.680> to<00:14:05.040> keep 00:14:05.269 --> 00:14:05.279 align:start position:0% for example you probably want to keep 00:14:05.279 --> 00:14:07.710 align:start position:0% for example you probably want to keep track<00:14:05.560> of<00:14:06.399> the<00:14:06.720> transaction<00:14:07.160> hashes<00:14:07.600> that 00:14:07.710 --> 00:14:07.720 align:start position:0% track of the transaction hashes that 00:14:07.720 --> 00:14:09.990 align:start position:0% track of the transaction hashes that you've<00:14:07.920> seen<00:14:08.399> otherwise<00:14:09.399> people<00:14:09.639> could<00:14:09.839> just 00:14:09.990 --> 00:14:10.000 align:start position:0% you've seen otherwise people could just 00:14:10.000 --> 00:14:11.949 align:start position:0% you've seen otherwise people could just replay<00:14:10.480> them<00:14:11.120> and<00:14:11.360> you<00:14:11.440> know<00:14:11.600> keep<00:14:11.759> getting 00:14:11.949 --> 00:14:11.959 align:start position:0% replay them and you know keep getting 00:14:11.959 --> 00:14:16.509 align:start position:0% replay them and you know keep getting your<00:14:12.120> side<00:14:12.360> chain 00:14:16.509 --> 00:14:16.519 align:start position:0% 00:14:16.519 --> 00:14:20.189 align:start position:0% tokens<00:14:17.519> so<00:14:17.759> I<00:14:17.839> have<00:14:18.120> a<00:14:18.360> couple<00:14:18.600> more<00:14:19.560> demos<00:14:20.040> but 00:14:20.189 --> 00:14:20.199 align:start position:0% tokens so I have a couple more demos but 00:14:20.199 --> 00:14:22.550 align:start position:0% tokens so I have a couple more demos but I'm<00:14:20.320> going<00:14:20.480> toh<00:14:20.920> do<00:14:21.079> it<00:14:21.399> after<00:14:21.880> the<00:14:22.040> references 00:14:22.550 --> 00:14:22.560 align:start position:0% I'm going toh do it after the references 00:14:22.560 --> 00:14:26.110 align:start position:0% I'm going toh do it after the references because<00:14:23.040> requires<00:14:23.399> me<00:14:23.560> going<00:14:24.240> off<00:14:24.560> the<00:14:25.120> slides 00:14:26.110 --> 00:14:26.120 align:start position:0% because requires me going off the slides 00:14:26.120 --> 00:14:29.710 align:start position:0% because requires me going off the slides but<00:14:26.360> for<00:14:26.639> the<00:14:26.959> conclusion<00:14:27.959> the<00:14:29.160> okay<00:14:29.560> the 00:14:29.710 --> 00:14:29.720 align:start position:0% but for the conclusion the okay the 00:14:29.720 --> 00:14:32.710 align:start position:0% but for the conclusion the okay the conclusion<00:14:30.480> is<00:14:31.480> okay<00:14:31.680> so<00:14:31.880> there's<00:14:32.399> three 00:14:32.710 --> 00:14:32.720 align:start position:0% conclusion is okay so there's three 00:14:32.720 --> 00:14:35.790 align:start position:0% conclusion is okay so there's three Secrets<00:14:33.720> the<00:14:33.880> first<00:14:34.120> one<00:14:34.360> is<00:14:34.759> it<00:14:35.079> BTC<00:14:35.480> relay 00:14:35.790 --> 00:14:35.800 align:start position:0% Secrets the first one is it BTC relay 00:14:35.800 --> 00:14:39.150 align:start position:0% Secrets the first one is it BTC relay Builds<00:14:36.040> an<00:14:36.199> SPV<00:14:37.000> chain<00:14:38.000> it<00:14:38.320> verifies 00:14:39.150 --> 00:14:39.160 align:start position:0% Builds an SPV chain it verifies 00:14:39.160 --> 00:14:41.030 align:start position:0% Builds an SPV chain it verifies transactions<00:14:39.800> using<00:14:40.040> Merkel 00:14:41.030 --> 00:14:41.040 align:start position:0% transactions using Merkel 00:14:41.040 --> 00:14:43.749 align:start position:0% transactions using Merkel proofs<00:14:42.040> and<00:14:42.320> it<00:14:42.480> has<00:14:42.759> incentives<00:14:43.399> for<00:14:43.639> the 00:14:43.749 --> 00:14:43.759 align:start position:0% proofs and it has incentives for the 00:14:43.759 --> 00:14:46.949 align:start position:0% proofs and it has incentives for the community<00:14:44.160> to<00:14:44.440> relay<00:14:44.959> the<00:14:45.079> block<00:14:45.480> headers<00:14:46.480> so 00:14:46.949 --> 00:14:46.959 align:start position:0% community to relay the block headers so 00:14:46.959 --> 00:14:50.629 align:start position:0% community to relay the block headers so that<00:14:47.959> BTC<00:14:48.360> Relay<00:14:48.720> can<00:14:48.839> build<00:14:49.160> the<00:14:49.279> SPV<00:14:49.720> chain 00:14:50.629 --> 00:14:50.639 align:start position:0% that BTC Relay can build the SPV chain 00:14:50.639 --> 00:14:52.509 align:start position:0% that BTC Relay can build the SPV chain it<00:14:50.759> is<00:14:50.959> trustless 00:14:52.509 --> 00:14:52.519 align:start position:0% it is trustless 00:14:52.519 --> 00:14:57.350 align:start position:0% it is trustless decentralized<00:14:53.519> autonomous<00:14:54.240> and 00:14:57.350 --> 00:14:57.360 align:start position:0% 00:14:57.360 --> 00:15:00.790 align:start position:0% modular<00:14:58.360> and<00:14:59.160> these<00:14:59.320> are<00:14:59.800> uh<00:15:00.199> yeah<00:15:00.480> I<00:15:00.560> want<00:15:00.680> to 00:15:00.790 --> 00:15:00.800 align:start position:0% modular and these are uh yeah I want to 00:15:00.800 --> 00:15:03.629 align:start position:0% modular and these are uh yeah I want to thank<00:15:01.040> these<00:15:01.320> people<00:15:01.920> uh<00:15:02.360> supporters<00:15:02.800> of<00:15:02.959> BTC 00:15:03.629 --> 00:15:03.639 align:start position:0% thank these people uh supporters of BTC 00:15:03.639 --> 00:15:06.470 align:start position:0% thank these people uh supporters of BTC relay<00:15:04.639> for<00:15:04.920> their<00:15:05.320> uh<00:15:05.560> yeah<00:15:05.720> Priceless<00:15:06.199> time 00:15:06.470 --> 00:15:06.480 align:start position:0% relay for their uh yeah Priceless time 00:15:06.480 --> 00:15:07.949 align:start position:0% relay for their uh yeah Priceless time thought<00:15:06.800> and 00:15:07.949 --> 00:15:07.959 align:start position:0% thought and 00:15:07.959 --> 00:15:11.590 align:start position:0% thought and work<00:15:09.240> and<00:15:10.240> here<00:15:10.399> are 00:15:11.590 --> 00:15:11.600 align:start position:0% work and here are 00:15:11.600 --> 00:15:13.269 align:start position:0% work and here are references 00:15:13.269 --> 00:15:13.279 align:start position:0% references 00:15:13.279 --> 00:15:16.790 align:start position:0% references and<00:15:14.279> the<00:15:14.440> site<00:15:14.759> is<00:15:14.920> BTC<00:15:15.440> relay.<00:15:16.040> org<00:15:16.360> which 00:15:16.790 --> 00:15:16.800 align:start position:0% and the site is BTC relay. org which 00:15:16.800 --> 00:15:22.590 align:start position:0% and the site is BTC relay. org which I'll<00:15:17.800> show<00:15:18.240> right 00:15:22.590 --> 00:15:22.600 align:start position:0% 00:15:22.600 --> 00:15:24.430 align:start position:0% now 00:15:24.430 --> 00:15:24.440 align:start position:0% now 00:15:24.440 --> 00:15:27.590 align:start position:0% now okay<00:15:25.440> me<00:15:25.839> Scot 00:15:27.590 --> 00:15:27.600 align:start position:0% okay me Scot 00:15:27.600 --> 00:15:29.829 align:start position:0% okay me Scot there 00:15:29.829 --> 00:15:29.839 align:start position:0% there 00:15:29.839 --> 00:15:31.629 align:start position:0% there okay 00:15:31.629 --> 00:15:31.639 align:start position:0% okay 00:15:31.639 --> 00:15:36.269 align:start position:0% okay so<00:15:32.639> so<00:15:33.000> this<00:15:33.120> is<00:15:33.399> where<00:15:33.920> um<00:15:34.480> BTC<00:15:34.959> relay<00:15:35.399> is 00:15:36.269 --> 00:15:36.279 align:start position:0% so so this is where um BTC relay is 00:15:36.279 --> 00:15:38.509 align:start position:0% so so this is where um BTC relay is that's<00:15:36.480> the<00:15:36.720> address<00:15:37.639> it's<00:15:37.800> on<00:15:37.920> a<00:15:38.160> public 00:15:38.509 --> 00:15:38.519 align:start position:0% that's the address it's on a public 00:15:38.519 --> 00:15:40.110 align:start position:0% that's the address it's on a public ethereum<00:15:39.160> test 00:15:40.110 --> 00:15:40.120 align:start position:0% ethereum test 00:15:40.120 --> 00:15:43.550 align:start position:0% ethereum test net<00:15:41.120> that<00:15:41.360> anyone<00:15:41.680> can<00:15:41.839> connect<00:15:42.120> to<00:15:42.519> at 00:15:43.550 --> 00:15:43.560 align:start position:0% net that anyone can connect to at 00:15:43.560 --> 00:15:45.790 align:start position:0% net that anyone can connect to at this<00:15:44.560> you<00:15:44.720> get<00:15:44.839> the<00:15:44.920> information<00:15:45.319> that<00:15:45.480> link 00:15:45.790 --> 00:15:45.800 align:start position:0% this you get the information that link 00:15:45.800 --> 00:15:48.670 align:start position:0% this you get the information that link there's<00:15:46.000> the<00:15:46.120> ABI<00:15:46.920> there<00:15:47.920> uh<00:15:48.120> there<00:15:48.240> was<00:15:48.399> some 00:15:48.670 --> 00:15:48.680 align:start position:0% there's the ABI there uh there was some 00:15:48.680 --> 00:15:51.470 align:start position:0% there's the ABI there uh there was some issue<00:15:48.920> in<00:15:49.040> the<00:15:49.160> test<00:15:49.399> net<00:15:49.720> right<00:15:49.880> now<00:15:50.480> where 00:15:51.470 --> 00:15:51.480 align:start position:0% issue in the test net right now where 00:15:51.480 --> 00:15:52.829 align:start position:0% issue in the test net right now where someone<00:15:51.800> minded<00:15:52.079> on<00:15:52.199> it<00:15:52.279> so<00:15:52.399> it's<00:15:52.519> a<00:15:52.639> little 00:15:52.829 --> 00:15:52.839 align:start position:0% someone minded on it so it's a little 00:15:52.839 --> 00:15:54.870 align:start position:0% someone minded on it so it's a little slower<00:15:53.279> but<00:15:53.600> all<00:15:53.800> you<00:15:53.880> can<00:15:54.160> compare<00:15:54.440> it<00:15:54.639> with 00:15:54.870 --> 00:15:54.880 align:start position:0% slower but all you can compare it with 00:15:54.880 --> 00:15:56.990 align:start position:0% slower but all you can compare it with what<00:15:55.560> what<00:15:55.800> has<00:15:56.040> usually<00:15:56.360> it's<00:15:56.519> up<00:15:56.639> to<00:15:56.800> date 00:15:56.990 --> 00:15:57.000 align:start position:0% what what has usually it's up to date 00:15:57.000 --> 00:16:00.710 align:start position:0% what what has usually it's up to date with<00:15:57.160> the<00:15:57.480> uh<00:15:58.440> the<00:15:58.600> the<00:15:58.720> block<00:15:59.279> blockchain 00:16:00.710 --> 00:16:00.720 align:start position:0% with the uh the the block blockchain 00:16:00.720 --> 00:16:03.629 align:start position:0% with the uh the the block blockchain explorers 00:16:03.629 --> 00:16:03.639 align:start position:0% explorers 00:16:03.639 --> 00:16:06.749 align:start position:0% explorers the<00:16:04.639> quickly<00:16:05.199> um<00:16:05.800> yeah<00:16:06.120> this<00:16:06.240> is<00:16:06.360> the<00:16:06.560> site 00:16:06.749 --> 00:16:06.759 align:start position:0% the quickly um yeah this is the site 00:16:06.759 --> 00:16:09.710 align:start position:0% the quickly um yeah this is the site that<00:16:06.920> has<00:16:07.079> more<00:16:07.279> so<00:16:07.880> BTC<00:16:08.319> relay.<00:16:08.959> org<00:16:09.360> that<00:16:09.519> has 00:16:09.710 --> 00:16:09.720 align:start position:0% that has more so BTC relay. org that has 00:16:09.720 --> 00:16:12.949 align:start position:0% that has more so BTC relay. org that has more<00:16:10.000> information<00:16:10.639> there<00:16:11.639> and<00:16:11.920> the<00:16:12.079> other 00:16:12.949 --> 00:16:12.959 align:start position:0% more information there and the other 00:16:12.959 --> 00:16:15.829 align:start position:0% more information there and the other quick<00:16:13.240> example<00:16:13.600> that<00:16:13.720> I<00:16:13.839> wanted<00:16:14.079> to<00:16:14.560> show<00:16:14.880> was 00:16:15.829 --> 00:16:15.839 align:start position:0% quick example that I wanted to show was 00:16:15.839 --> 00:16:17.910 align:start position:0% quick example that I wanted to show was so<00:16:16.120> here<00:16:16.519> we<00:16:16.680> do<00:16:17.120> I've<00:16:17.240> already<00:16:17.480> run<00:16:17.759> this 00:16:17.910 --> 00:16:17.920 align:start position:0% so here we do I've already run this 00:16:17.920 --> 00:16:19.710 align:start position:0% so here we do I've already run this because<00:16:18.160> I'm<00:16:18.319> not<00:16:18.480> connected<00:16:18.839> to<00:16:18.959> the<00:16:19.120> Wi-Fi 00:16:19.710 --> 00:16:19.720 align:start position:0% because I'm not connected to the Wi-Fi 00:16:19.720 --> 00:16:21.069 align:start position:0% because I'm not connected to the Wi-Fi but<00:16:19.880> this<00:16:20.000> is<00:16:20.120> the<00:16:20.240> first<00:16:20.440> transaction<00:16:20.920> in 00:16:21.069 --> 00:16:21.079 align:start position:0% but this is the first transaction in 00:16:21.079 --> 00:16:22.030 align:start position:0% but this is the first transaction in Block 00:16:22.030 --> 00:16:22.040 align:start position:0% Block 00:16:22.040 --> 00:16:24.509 align:start position:0% Block 38100<00:16:23.040> when<00:16:23.160> we<00:16:23.279> do<00:16:23.399> a<00:16:23.519> lookup<00:16:24.040> it<00:16:24.199> gets<00:16:24.399> all 00:16:24.509 --> 00:16:24.519 align:start position:0% 38100 when we do a lookup it gets all 00:16:24.519 --> 00:16:27.150 align:start position:0% 38100 when we do a lookup it gets all the<00:16:24.680> transactions<00:16:25.279> in<00:16:25.440> that<00:16:25.920> block<00:16:26.920> and<00:16:27.040> then 00:16:27.150 --> 00:16:27.160 align:start position:0% the transactions in that block and then 00:16:27.160 --> 00:16:29.910 align:start position:0% the transactions in that block and then it's<00:16:27.319> going<00:16:27.440> to<00:16:27.680> pass<00:16:28.240> pass<00:16:28.759> them<00:16:28.880> to<00:16:29.040> a 00:16:29.910 --> 00:16:29.920 align:start position:0% it's going to pass pass them to a 00:16:29.920 --> 00:16:33.309 align:start position:0% it's going to pass pass them to a module<00:16:30.920> that<00:16:31.079> I've<00:16:31.240> put<00:16:31.399> an<00:16:31.600> npm<00:16:32.240> to<00:16:32.839> generate 00:16:33.309 --> 00:16:33.319 align:start position:0% module that I've put an npm to generate 00:16:33.319 --> 00:16:37.509 align:start position:0% module that I've put an npm to generate that<00:16:33.600> Merkel<00:16:34.680> proof<00:16:35.680> so<00:16:35.880> the<00:16:36.040> module<00:16:36.519> is 00:16:37.509 --> 00:16:37.519 align:start position:0% that Merkel proof so the module is 00:16:37.519 --> 00:16:39.910 align:start position:0% that Merkel proof so the module is pretty<00:16:37.720> easy<00:16:37.959> to<00:16:38.160> use<00:16:38.440> you<00:16:38.639> pass<00:16:38.839> in<00:16:39.000> all<00:16:39.160> your 00:16:39.910 --> 00:16:39.920 align:start position:0% pretty easy to use you pass in all your 00:16:39.920 --> 00:16:41.870 align:start position:0% pretty easy to use you pass in all your transactions<00:16:40.920> the<00:16:41.040> index<00:16:41.360> of<00:16:41.519> which<00:16:41.680> one<00:16:41.800> you 00:16:41.870 --> 00:16:41.880 align:start position:0% transactions the index of which one you 00:16:41.880 --> 00:16:46.189 align:start position:0% transactions the index of which one you want<00:16:41.959> to<00:16:42.120> proof<00:16:43.040> from<00:16:44.040> and<00:16:44.560> if<00:16:44.680> we<00:16:44.880> go<00:16:45.079> back 00:16:46.189 --> 00:16:46.199 align:start position:0% want to proof from and if we go back 00:16:46.199 --> 00:16:49.509 align:start position:0% want to proof from and if we go back to<00:16:47.199> if<00:16:47.319> we<00:16:47.519> go<00:16:47.720> back<00:16:47.839> to<00:16:48.040> the<00:16:48.319> example<00:16:49.319> that 00:16:49.509 --> 00:16:49.519 align:start position:0% to if we go back to the example that 00:16:49.519 --> 00:16:52.230 align:start position:0% to if we go back to the example that that's<00:16:49.639> an<00:16:50.240> example<00:16:51.240> of<00:16:51.399> it<00:16:51.720> but<00:16:51.920> of<00:16:52.079> course 00:16:52.230 --> 00:16:52.240 align:start position:0% that's an example of it but of course 00:16:52.240 --> 00:16:53.430 align:start position:0% that's an example of it but of course you<00:16:52.360> know<00:16:52.560> you<00:16:52.639> don't<00:16:52.800> need<00:16:52.920> to<00:16:53.040> show<00:16:53.279> your 00:16:53.430 --> 00:16:53.440 align:start position:0% you know you don't need to show your 00:16:53.440 --> 00:16:55.309 align:start position:0% you know you don't need to show your users<00:16:53.839> any<00:16:54.000> of<00:16:54.160> this<00:16:54.360> stuff<00:16:54.639> because<00:16:54.920> once<00:16:55.160> you 00:16:55.309 --> 00:16:55.319 align:start position:0% users any of this stuff because once you 00:16:55.319 --> 00:16:57.350 align:start position:0% users any of this stuff because once you have<00:16:55.480> the<00:16:55.639> data<00:16:56.240> then<00:16:56.399> you<00:16:56.480> can<00:16:56.680> just<00:16:57.040> pass<00:16:57.199> it 00:16:57.350 --> 00:16:57.360 align:start position:0% have the data then you can just pass it 00:16:57.360 --> 00:17:02.110 align:start position:0% have the data then you can just pass it along<00:16:57.720> to<00:16:58.519> the<00:16:59.160> contract<00:17:00.160> BTC<00:17:00.720> relay<00:17:01.399> and<00:17:01.959> when 00:17:02.110 --> 00:17:02.120 align:start position:0% along to the contract BTC relay and when 00:17:02.120 --> 00:17:05.590 align:start position:0% along to the contract BTC relay and when you<00:17:02.279> click<00:17:03.000> uh<00:17:03.279> call<00:17:03.920> it's<00:17:04.079> just<00:17:04.280> going<00:17:04.600> to 00:17:05.590 --> 00:17:05.600 align:start position:0% you click uh call it's just going to 00:17:05.600 --> 00:17:07.750 align:start position:0% you click uh call it's just going to return<00:17:06.199> one<00:17:06.720> or 00:17:07.750 --> 00:17:07.760 align:start position:0% return one or 00:17:07.760 --> 00:17:13.549 align:start position:0% return one or zero<00:17:08.760> this<00:17:08.880> is<00:17:09.000> just<00:17:09.160> a<00:17:09.319> sample<00:17:09.679> to<00:17:10.079> to<00:17:10.240> show<00:17:10.640> it 00:17:13.549 --> 00:17:13.559 align:start position:0% zero this is just a sample to to show it 00:17:13.559 --> 00:17:17.270 align:start position:0% zero this is just a sample to to show it and<00:17:14.559> and<00:17:15.400> I<00:17:15.559> guess<00:17:15.959> just<00:17:16.160> more<00:17:16.919> some<00:17:17.079> some 00:17:17.270 --> 00:17:17.280 align:start position:0% and and I guess just more some some 00:17:17.280 --> 00:17:19.230 align:start position:0% and and I guess just more some some Source<00:17:17.600> since<00:17:17.760> we<00:17:17.880> have<00:17:17.959> a<00:17:18.120> bit<00:17:18.520> couple<00:17:18.760> of 00:17:19.230 --> 00:17:19.240 align:start position:0% Source since we have a bit couple of 00:17:19.240 --> 00:17:23.029 align:start position:0% Source since we have a bit couple of minutes<00:17:20.720> here 00:17:23.029 --> 00:17:23.039 align:start position:0% minutes here 00:17:23.039 --> 00:17:25.949 align:start position:0% minutes here um 00:17:25.949 --> 00:17:25.959 align:start position:0% um 00:17:25.959 --> 00:17:29.430 align:start position:0% um so<00:17:26.959> okay<00:17:27.240> let's<00:17:27.640> see<00:17:28.520> so<00:17:28.799> this<00:17:28.919> is<00:17:29.160> this<00:17:29.280> is 00:17:29.430 --> 00:17:29.440 align:start position:0% so okay let's see so this is this is 00:17:29.440 --> 00:17:31.909 align:start position:0% so okay let's see so this is this is where<00:17:29.799> where<00:17:30.120> where<00:17:30.320> where<00:17:30.480> the<00:17:30.600> call<00:17:30.880> is<00:17:31.000> done 00:17:31.909 --> 00:17:31.919 align:start position:0% where where where where the call is done 00:17:31.919 --> 00:17:34.430 align:start position:0% where where where where the call is done the<00:17:32.080> the<00:17:32.200> verifi<00:17:32.679> TX<00:17:33.120> call<00:17:33.799> anyway<00:17:34.240> you<00:17:34.320> can 00:17:34.430 --> 00:17:34.440 align:start position:0% the the verifi TX call anyway you can 00:17:34.440 --> 00:17:39.270 align:start position:0% the the verifi TX call anyway you can look<00:17:34.559> at<00:17:34.760> this<00:17:34.919> as<00:17:35.520> well<00:17:36.520> um<00:17:37.080> online<00:17:37.679> it's 00:17:39.270 --> 00:17:39.280 align:start position:0% look at this as well um online it's 00:17:39.280 --> 00:17:41.750 align:start position:0% look at this as well um online it's uh 00:17:41.750 --> 00:17:41.760 align:start position:0% uh 00:17:41.760 --> 00:17:45.510 align:start position:0% uh but<00:17:42.760> but<00:17:43.200> uh<00:17:43.480> there<00:17:44.120> so<00:17:44.360> the<00:17:44.559> mod<00:17:45.039> the<00:17:45.120> module 00:17:45.510 --> 00:17:45.520 align:start position:0% but but uh there so the mod the module 00:17:45.520 --> 00:17:48.549 align:start position:0% but but uh there so the mod the module is<00:17:45.720> here<00:17:46.360> the<00:17:46.520> Bitcoin<00:17:46.880> proof<00:17:47.200> module 00:17:48.549 --> 00:17:48.559 align:start position:0% is here the Bitcoin proof module 00:17:48.559 --> 00:17:52.510 align:start position:0% is here the Bitcoin proof module and<00:17:49.559> it's<00:17:50.000> uh<00:17:50.320> yeah<00:17:50.480> we<00:17:50.600> call<00:17:50.840> it<00:17:51.640> yeah<00:17:51.799> we<00:17:51.960> call 00:17:52.510 --> 00:17:52.520 align:start position:0% and it's uh yeah we call it yeah we call 00:17:52.520 --> 00:17:55.710 align:start position:0% and it's uh yeah we call it yeah we call it<00:17:53.520> somewhere<00:17:53.919> the<00:17:54.039> the<00:17:54.120> npm<00:17:54.480> code<00:17:54.679> that<00:17:54.799> I 00:17:55.710 --> 00:17:55.720 align:start position:0% it somewhere the the npm code that I 00:17:55.720 --> 00:17:57.390 align:start position:0% it somewhere the the npm code that I showed 00:17:57.390 --> 00:17:57.400 align:start position:0% showed 00:17:57.400 --> 00:18:01.390 align:start position:0% showed um<00:17:58.559> so<00:17:59.520> so<00:17:59.840> that's<00:18:00.360> yeah<00:18:00.559> I<00:18:00.679> guess<00:18:00.880> maybe<00:18:01.240> time 00:18:01.390 --> 00:18:01.400 align:start position:0% um so so that's yeah I guess maybe time 00:18:01.400 --> 00:18:04.190 align:start position:0% um so so that's yeah I guess maybe time for<00:18:01.640> one<00:18:01.919> question<00:18:02.200> or<00:18:02.360> two<00:18:02.919> yeah<00:18:03.679> if<00:18:03.840> anyone 00:18:04.190 --> 00:18:04.200 align:start position:0% for one question or two yeah if anyone 00:18:04.200 --> 00:18:07.190 align:start position:0% for one question or two yeah if anyone has<00:18:04.360> any<00:18:05.039> questions<00:18:06.039> yeah<00:18:06.280> I<00:18:06.720> can<00:18:06.880> this<00:18:07.039> be 00:18:07.190 --> 00:18:07.200 align:start position:0% has any questions yeah I can this be 00:18:07.200 --> 00:18:09.750 align:start position:0% has any questions yeah I can this be used<00:18:07.480> to<00:18:08.080> uh<00:18:08.799> to<00:18:09.000> connect<00:18:09.320> with<00:18:09.480> meta 00:18:09.750 --> 00:18:09.760 align:start position:0% used to uh to connect with meta 00:18:09.760 --> 00:18:13.750 align:start position:0% used to uh to connect with meta protocols<00:18:10.320> as<00:18:10.640> well<00:18:11.640> meta<00:18:11.919> coins<00:18:12.440> like<00:18:13.400> Master 00:18:13.750 --> 00:18:13.760 align:start position:0% protocols as well meta coins like Master 00:18:13.760 --> 00:18:14.830 align:start position:0% protocols as well meta coins like Master coin 00:18:14.830 --> 00:18:14.840 align:start position:0% coin 00:18:14.840 --> 00:18:17.549 align:start position:0% coin countery<00:18:15.840> so<00:18:16.679> it<00:18:16.799> could<00:18:17.039> but<00:18:17.159> you<00:18:17.240> would<00:18:17.440> have 00:18:17.549 --> 00:18:17.559 align:start position:0% countery so it could but you would have 00:18:17.559 --> 00:18:20.270 align:start position:0% countery so it could but you would have to<00:18:17.960> um<00:18:18.480> you<00:18:18.600> would<00:18:18.840> have<00:18:18.960> to<00:18:19.559> write<00:18:19.840> something 00:18:20.270 --> 00:18:20.280 align:start position:0% to um you would have to write something 00:18:20.280 --> 00:18:22.470 align:start position:0% to um you would have to write something similar<00:18:21.280> so<00:18:21.480> you<00:18:21.640> can't<00:18:21.880> leverage<00:18:22.280> it 00:18:22.470 --> 00:18:22.480 align:start position:0% similar so you can't leverage it 00:18:22.480 --> 00:18:25.630 align:start position:0% similar so you can't leverage it directly<00:18:22.840> unless<00:18:23.240> those<00:18:23.520> use<00:18:24.080> um<00:18:24.919> you<00:18:25.080> know 00:18:25.630 --> 00:18:25.640 align:start position:0% directly unless those use um you know 00:18:25.640 --> 00:18:27.310 align:start position:0% directly unless those use um you know bit<00:18:25.799> Bitcoin 00:18:27.310 --> 00:18:27.320 align:start position:0% bit Bitcoin 00:18:27.320 --> 00:18:30.390 align:start position:0% bit Bitcoin directly<00:18:28.520> unfortunately<00:18:29.400> the<00:18:29.559> answer<00:18:30.039> no 00:18:30.390 --> 00:18:30.400 align:start position:0% directly unfortunately the answer no 00:18:30.400 --> 00:18:37.830 align:start position:0% directly unfortunately the answer no basic<00:18:31.240> because<00:18:32.240> yeah<00:18:32.480> for<00:18:32.840> for<00:18:33.000> script<00:18:33.320> is 00:18:37.830 --> 00:18:37.840 align:start position:0% 00:18:37.840 --> 00:18:44.669 align:start position:0% expensive<00:18:38.840> is<00:18:39.000> there<00:18:39.559> is<00:18:39.679> there<00:18:39.799> another 00:18:44.669 --> 00:18:44.679 align:start position:0% 00:18:44.679 --> 00:18:47.070 align:start position:0% question<00:18:45.679> works<00:18:46.080> because<00:18:46.360> the<00:18:46.480> miners<00:18:46.880> are 00:18:47.070 --> 00:18:47.080 align:start position:0% question works because the miners are 00:18:47.080 --> 00:18:48.990 align:start position:0% question works because the miners are actually<00:18:47.679> putting<00:18:47.960> their<00:18:48.120> hash<00:18:48.360> power<00:18:48.679> behind 00:18:48.990 --> 00:18:49.000 align:start position:0% actually putting their hash power behind 00:18:49.000 --> 00:18:52.789 align:start position:0% actually putting their hash power behind Lo<00:18:49.799> say<00:18:50.039> stuff<00:18:50.520> transactions<00:18:51.400> but<00:18:52.400> protols 00:18:52.789 --> 00:18:52.799 align:start position:0% Lo say stuff transactions but protols 00:18:52.799 --> 00:18:55.630 align:start position:0% Lo say stuff transactions but protols like<00:18:53.760> party<00:18:54.120> basically<00:18:55.120> to<00:18:55.280> get<00:18:55.440> any 00:18:55.630 --> 00:18:55.640 align:start position:0% like party basically to get any 00:18:55.640 --> 00:19:00.710 align:start position:0% like party basically to get any information<00:18:56.120> at<00:18:56.679> all<00:18:57.679> abely 00:19:00.710 --> 00:19:00.720 align:start position:0% 00:19:00.720 --> 00:19:05.230 align:start position:0% okay<00:19:01.760> y<00:19:02.760> okay<00:19:02.919> one<00:19:03.080> one<00:19:03.240> more<00:19:03.840> yeah<00:19:04.360> okay<00:19:04.520> two 00:19:05.230 --> 00:19:05.240 align:start position:0% okay y okay one one more yeah okay two 00:19:05.240 --> 00:19:08.669 align:start position:0% okay y okay one one more yeah okay two okay<00:19:05.440> I<00:19:06.280> do<00:19:06.480> know<00:19:06.799> all<00:19:06.919> right<00:19:07.159> yeah<00:19:07.679> the<00:19:08.080> yep 00:19:08.669 --> 00:19:08.679 align:start position:0% okay I do know all right yeah the yep 00:19:08.679 --> 00:19:11.070 align:start position:0% okay I do know all right yeah the yep the<00:19:09.000> uh<00:19:09.159> the<00:19:09.280> headers<00:19:10.000> yes<00:19:10.720> uh<00:19:10.880> are<00:19:10.960> you 00:19:11.070 --> 00:19:11.080 align:start position:0% the uh the headers yes uh are you 00:19:11.080 --> 00:19:14.549 align:start position:0% the uh the headers yes uh are you storing<00:19:11.440> that<00:19:11.840> on<00:19:12.000> the<00:19:12.120> E<00:19:12.520> blockchain<00:19:13.559> yes 00:19:14.549 --> 00:19:14.559 align:start position:0% storing that on the E blockchain yes 00:19:14.559 --> 00:19:16.430 align:start position:0% storing that on the E blockchain yes it's<00:19:14.679> like<00:19:14.840> 20<00:19:15.159> something<00:19:15.480> megabytes<00:19:16.159> no<00:19:16.320> no 00:19:16.430 --> 00:19:16.440 align:start position:0% it's like 20 something megabytes no no 00:19:16.440 --> 00:19:19.590 align:start position:0% it's like 20 something megabytes no no no<00:19:16.720> it<00:19:17.240> uh<00:19:17.679> yeah<00:19:17.919> well<00:19:18.120> if<00:19:18.240> you<00:19:18.400> start<00:19:18.840> from<00:19:19.280> yes 00:19:19.590 --> 00:19:19.600 align:start position:0% no it uh yeah well if you start from yes 00:19:19.600 --> 00:19:21.990 align:start position:0% no it uh yeah well if you start from yes satous<00:19:20.120> Genesis<00:19:20.600> yeah<00:19:20.760> then<00:19:20.880> it<00:19:21.000> would<00:19:21.200> be 00:19:21.990 --> 00:19:22.000 align:start position:0% satous Genesis yeah then it would be 00:19:22.000 --> 00:19:24.029 align:start position:0% satous Genesis yeah then it would be that<00:19:22.159> that<00:19:22.400> big<00:19:22.720> but<00:19:23.320> yeah<00:19:23.520> that's<00:19:23.720> something 00:19:24.029 --> 00:19:24.039 align:start position:0% that that big but yeah that's something 00:19:24.039 --> 00:19:26.630 align:start position:0% that that big but yeah that's something that<00:19:24.240> we<00:19:24.360> can<00:19:25.280> configure<00:19:26.000> you'll<00:19:26.200> just<00:19:26.440> you'll 00:19:26.630 --> 00:19:26.640 align:start position:0% that we can configure you'll just you'll 00:19:26.640 --> 00:19:28.549 align:start position:0% that we can configure you'll just you'll just<00:19:26.799> pay<00:19:26.960> the<00:19:27.080> fees<00:19:27.360> to<00:19:27.520> put<00:19:27.679> that<00:19:27.799> in<00:19:28.440> when 00:19:28.549 --> 00:19:28.559 align:start position:0% just pay the fees to put that in when 00:19:28.559 --> 00:19:30.950 align:start position:0% just pay the fees to put that in when you<00:19:28.679> start<00:19:29.080> well<00:19:29.360> no<00:19:29.640> that's<00:19:29.799> the<00:19:29.960> thing<00:19:30.480> um 00:19:30.950 --> 00:19:30.960 align:start position:0% you start well no that's the thing um 00:19:30.960 --> 00:19:33.350 align:start position:0% you start well no that's the thing um that's<00:19:31.159> why<00:19:31.280> we<00:19:31.400> have<00:19:31.600> the<00:19:31.840> the<00:19:32.000> incentives<00:19:32.919> so 00:19:33.350 --> 00:19:33.360 align:start position:0% that's why we have the the incentives so 00:19:33.360 --> 00:19:34.990 align:start position:0% that's why we have the the incentives so we're<00:19:33.640> probably<00:19:33.919> just<00:19:34.080> going<00:19:34.240> to<00:19:34.360> start<00:19:34.600> at<00:19:34.720> a 00:19:34.990 --> 00:19:35.000 align:start position:0% we're probably just going to start at a 00:19:35.000 --> 00:19:35.990 align:start position:0% we're probably just going to start at a future 00:19:35.990 --> 00:19:36.000 align:start position:0% future 00:19:36.000 --> 00:19:39.190 align:start position:0% future block<00:19:37.000> that's<00:19:37.280> not<00:19:37.520> satoshi's<00:19:38.080> Genesis<00:19:39.000> okay 00:19:39.190 --> 00:19:39.200 align:start position:0% block that's not satoshi's Genesis okay 00:19:39.200 --> 00:19:41.549 align:start position:0% block that's not satoshi's Genesis okay and<00:19:39.360> then<00:19:39.799> let<00:19:40.280> you<00:19:40.400> know<00:19:40.559> let<00:19:40.679> it<00:19:40.880> be<00:19:41.320> yeah<00:19:41.440> the 00:19:41.549 --> 00:19:41.559 align:start position:0% and then let you know let it be yeah the 00:19:41.559 --> 00:19:45.830 align:start position:0% and then let you know let it be yeah the community<00:19:41.960> in<00:19:43.080> mhm<00:19:44.080> yes 00:19:45.830 --> 00:19:45.840 align:start position:0% community in mhm yes 00:19:45.840 --> 00:19:57.230 align:start position:0% community in mhm yes Alex 00:19:57.230 --> 00:19:57.240 align:start position:0% 00:19:57.240 --> 00:20:00.390 align:start position:0% yep<00:19:58.440> uh<00:19:58.640> yeah<00:19:58.840> there<00:19:59.159> yeah<00:19:59.320> there<00:19:59.440> can<00:19:59.600> be 00:20:00.390 --> 00:20:00.400 align:start position:0% yep uh yeah there yeah there can be 00:20:00.400 --> 00:20:03.270 align:start position:0% yep uh yeah there yeah there can be plans<00:20:01.400> here<00:20:01.600> hang<00:20:02.039> are<00:20:02.159> there<00:20:02.280> plans<00:20:02.559> to<00:20:02.720> build 00:20:03.270 --> 00:20:03.280 align:start position:0% plans here hang are there plans to build 00:20:03.280 --> 00:20:08.350 align:start position:0% plans here hang are there plans to build a<00:20:04.280> uh<00:20:04.480> a<00:20:04.720> BTC<00:20:05.720> token<00:20:06.039> on<00:20:06.520> ethereum<00:20:07.520> that<00:20:07.760> Maps 00:20:08.350 --> 00:20:08.360 align:start position:0% a uh a BTC token on ethereum that Maps 00:20:08.360 --> 00:20:10.789 align:start position:0% a uh a BTC token on ethereum that Maps one<00:20:08.640> to<00:20:08.840> one<00:20:09.159> with<00:20:09.720> actual 00:20:10.789 --> 00:20:10.799 align:start position:0% one to one with actual 00:20:10.799 --> 00:20:13.390 align:start position:0% one to one with actual Bitcoins<00:20:11.799> so<00:20:12.280> yeah<00:20:12.480> that's<00:20:12.960> yeah<00:20:13.120> that<00:20:13.240> could 00:20:13.390 --> 00:20:13.400 align:start position:0% Bitcoins so yeah that's yeah that could 00:20:13.400 --> 00:20:15.549 align:start position:0% Bitcoins so yeah that's yeah that could be<00:20:13.679> definitely<00:20:14.000> a<00:20:14.080> future<00:20:14.640> um<00:20:15.039> thing<00:20:15.280> that's 00:20:15.549 --> 00:20:15.559 align:start position:0% be definitely a future um thing that's 00:20:15.559 --> 00:20:18.549 align:start position:0% be definitely a future um thing that's possible<00:20:15.960> to<00:20:16.960> to<00:20:17.159> build<00:20:17.679> the<00:20:17.960> the<00:20:18.120> next<00:20:18.360> main 00:20:18.549 --> 00:20:18.559 align:start position:0% possible to to build the the next main 00:20:18.559 --> 00:20:21.230 align:start position:0% possible to to build the the next main thing<00:20:18.760> that<00:20:18.919> I'm<00:20:19.480> building<00:20:20.000> is<00:20:20.280> just<00:20:20.520> a 00:20:21.230 --> 00:20:21.240 align:start position:0% thing that I'm building is just a 00:20:21.240 --> 00:20:25.830 align:start position:0% thing that I'm building is just a decentralized<00:20:22.200> swap<00:20:22.799> of<00:20:23.640> ether<00:20:24.120> and 00:20:25.830 --> 00:20:25.840 align:start position:0% decentralized swap of ether and 00:20:25.840 --> 00:20:28.190 align:start position:0% decentralized swap of ether and Bitcoins<00:20:26.840> and<00:20:27.000> then<00:20:27.240> after<00:20:27.520> that<00:20:27.640> you<00:20:27.760> know 00:20:28.190 --> 00:20:28.200 align:start position:0% Bitcoins and then after that you know 00:20:28.200 --> 00:20:29.590 align:start position:0% Bitcoins and then after that you know with<00:20:28.320> the<00:20:28.480> side 00:20:29.590 --> 00:20:29.600 align:start position:0% with the side 00:20:29.600 --> 00:20:34.110 align:start position:0% with the side chains<00:20:30.600> then<00:20:30.840> these<00:20:31.080> ideas<00:20:31.559> can<00:20:32.280> can<00:20:32.520> be 00:20:34.110 --> 00:20:34.120 align:start position:0% chains then these ideas can can be 00:20:34.120 --> 00:20:37.870 align:start position:0% chains then these ideas can can be done<00:20:35.120> any<00:20:35.360> others<00:20:36.360> okay<00:20:36.960> thanks<00:20:37.440> thank<00:20:37.600> you 00:20:37.870 --> 00:20:37.880 align:start position:0% done any others okay thanks thank you 00:20:37.880 --> 00:20:39.630 align:start position:0% done any others okay thanks thank you Joseph<00:20:38.880> Joseph 00:20:39.630 --> 00:20:39.640 align:start position:0% Joseph Joseph 00:20:39.640 --> 00:20:45.990 align:start position:0% Joseph Joseph [Applause] 00:20:45.990 --> 00:20:46.000 align:start position:0% 00:20:46.000 --> 00:20:50.870 align:start position:0% [Music] 00:20:50.870 --> 00:20:50.880 align:start position:0% 00:20:50.880 --> 00:20:53.880 align:start position:0% Chow