WEBVTT Kind: captions Language: en 00:00:00.030 --> 00:00:02.510 align:start position:0% all<00:00:00.840> right<00:00:01.020> good<00:00:01.290> morning<00:00:01.410> everyone<00:00:01.829> it's 00:00:02.510 --> 00:00:02.520 align:start position:0% all right good morning everyone it's 00:00:02.520 --> 00:00:04.249 align:start position:0% all right good morning everyone it's great<00:00:03.060> to<00:00:03.179> be<00:00:03.270> here<00:00:03.419> it's<00:00:03.600> my<00:00:03.689> first<00:00:03.899> I've<00:00:04.080> con 00:00:04.249 --> 00:00:04.259 align:start position:0% great to be here it's my first I've con 00:00:04.259 --> 00:00:06.230 align:start position:0% great to be here it's my first I've con super<00:00:04.589> excited<00:00:05.040> and<00:00:05.130> today<00:00:05.759> I'm<00:00:05.879> gonna<00:00:06.029> talk 00:00:06.230 --> 00:00:06.240 align:start position:0% super excited and today I'm gonna talk 00:00:06.240 --> 00:00:08.419 align:start position:0% super excited and today I'm gonna talk about<00:00:06.509> like<00:00:06.690> basically<00:00:07.109> build<00:00:07.770> and<00:00:08.010> operate<00:00:08.309> a 00:00:08.419 --> 00:00:08.429 align:start position:0% about like basically build and operate a 00:00:08.429 --> 00:00:09.830 align:start position:0% about like basically build and operate a Internet's<00:00:08.880> Quixote<00:00:09.210> apps<00:00:09.360> on<00:00:09.570> Saturn 00:00:09.830 --> 00:00:09.840 align:start position:0% Internet's Quixote apps on Saturn 00:00:09.840 --> 00:00:11.690 align:start position:0% Internet's Quixote apps on Saturn Network<00:00:10.110> but<00:00:10.679> before<00:00:11.010> I<00:00:11.040> go<00:00:11.250> to<00:00:11.309> the<00:00:11.519> technical 00:00:11.690 --> 00:00:11.700 align:start position:0% Network but before I go to the technical 00:00:11.700 --> 00:00:13.669 align:start position:0% Network but before I go to the technical content<00:00:12.240> I<00:00:12.420> just<00:00:12.630> want<00:00:12.780> to<00:00:12.870> say<00:00:13.049> that<00:00:13.200> we<00:00:13.380> have 00:00:13.669 --> 00:00:13.679 align:start position:0% content I just want to say that we have 00:00:13.679 --> 00:00:15.770 align:start position:0% content I just want to say that we have a<00:00:13.889> test<00:00:14.160> net<00:00:14.370> up<00:00:14.580> and<00:00:14.790> the<00:00:15.150> tester<00:00:15.450> is<00:00:15.509> not<00:00:15.750> a 00:00:15.770 --> 00:00:15.780 align:start position:0% a test net up and the tester is not a 00:00:15.780 --> 00:00:17.779 align:start position:0% a test net up and the tester is not a black<00:00:16.080> window<00:00:16.470> that<00:00:16.859> we<00:00:16.980> say<00:00:17.160> awesome<00:00:17.310> numbers 00:00:17.779 --> 00:00:17.789 align:start position:0% black window that we say awesome numbers 00:00:17.789 --> 00:00:19.519 align:start position:0% black window that we say awesome numbers but<00:00:18.119> an<00:00:18.270> actual<00:00:18.600> app<00:00:18.779> you<00:00:18.930> can<00:00:19.050> download<00:00:19.199> and 00:00:19.519 --> 00:00:19.529 align:start position:0% but an actual app you can download and 00:00:19.529 --> 00:00:22.609 align:start position:0% but an actual app you can download and try<00:00:19.710> today<00:00:19.890> and<00:00:20.820> you<00:00:21.810> can<00:00:21.930> play<00:00:22.109> some<00:00:22.350> board 00:00:22.609 --> 00:00:22.619 align:start position:0% try today and you can play some board 00:00:22.619 --> 00:00:25.070 align:start position:0% try today and you can play some board games<00:00:22.710> in<00:00:23.160> yet<00:00:23.310> but<00:00:24.000> we<00:00:24.119> only<00:00:24.300> have<00:00:24.539> it<00:00:24.570> in 00:00:25.070 --> 00:00:25.080 align:start position:0% games in yet but we only have it in 00:00:25.080 --> 00:00:27.170 align:start position:0% games in yet but we only have it in android<00:00:25.769> available<00:00:26.250> right<00:00:26.400> now 00:00:27.170 --> 00:00:27.180 align:start position:0% android available right now 00:00:27.180 --> 00:00:29.000 align:start position:0% android available right now so<00:00:27.599> we're<00:00:27.720> just<00:00:27.750> gonna<00:00:28.019> show<00:00:28.109> like<00:00:28.680> basically 00:00:29.000 --> 00:00:29.010 align:start position:0% so we're just gonna show like basically 00:00:29.010 --> 00:00:31.880 align:start position:0% so we're just gonna show like basically a<00:00:29.130> quick<00:00:29.550> demo<00:00:29.789> here<00:00:30.050> that<00:00:31.050> what<00:00:31.470> this<00:00:31.679> is 00:00:31.880 --> 00:00:31.890 align:start position:0% a quick demo here that what this is 00:00:31.890 --> 00:00:33.860 align:start position:0% a quick demo here that what this is about<00:00:31.980> is<00:00:32.279> this<00:00:32.430> is<00:00:32.489> like<00:00:32.850> a<00:00:33.059> game<00:00:33.420> is<00:00:33.600> running 00:00:33.860 --> 00:00:33.870 align:start position:0% about is this is like a game is running 00:00:33.870 --> 00:00:35.360 align:start position:0% about is this is like a game is running on<00:00:34.020> generalized<00:00:34.469> state<00:00:34.680> channel<00:00:34.980> it's<00:00:35.280> a 00:00:35.360 --> 00:00:35.370 align:start position:0% on generalized state channel it's a 00:00:35.370 --> 00:00:35.840 align:start position:0% on generalized state channel it's a board<00:00:35.610> game 00:00:35.840 --> 00:00:35.850 align:start position:0% board game 00:00:35.850 --> 00:00:37.430 align:start position:0% board game it's<00:00:36.030> basically<00:00:36.329> connecting<00:00:36.750> five<00:00:36.989> and<00:00:37.230> you 00:00:37.430 --> 00:00:37.440 align:start position:0% it's basically connecting five and you 00:00:37.440 --> 00:00:39.110 align:start position:0% it's basically connecting five and you can<00:00:37.590> create<00:00:37.890> a<00:00:37.980> game<00:00:38.250> and<00:00:38.489> you<00:00:38.730> can<00:00:38.879> bear<00:00:39.090> with 00:00:39.110 --> 00:00:39.120 align:start position:0% can create a game and you can bear with 00:00:39.120 --> 00:00:41.299 align:start position:0% can create a game and you can bear with your<00:00:39.629> friend<00:00:39.930> for<00:00:40.140> point<00:00:40.410> one<00:00:40.500> test<00:00:40.980> at<00:00:41.129> ease 00:00:41.299 --> 00:00:41.309 align:start position:0% your friend for point one test at ease 00:00:41.309 --> 00:00:43.970 align:start position:0% your friend for point one test at ease and<00:00:41.579> now<00:00:42.570> you<00:00:42.960> can<00:00:43.140> off<00:00:43.350> you<00:00:43.469> go<00:00:43.620> you<00:00:43.649> can<00:00:43.890> start 00:00:43.970 --> 00:00:43.980 align:start position:0% and now you can off you go you can start 00:00:43.980 --> 00:00:46.459 align:start position:0% and now you can off you go you can start to<00:00:44.219> play<00:00:44.399> and<00:00:44.610> you<00:00:45.300> can<00:00:45.450> the<00:00:45.930> important<00:00:46.320> thing 00:00:46.459 --> 00:00:46.469 align:start position:0% to play and you can the important thing 00:00:46.469 --> 00:00:48.380 align:start position:0% to play and you can the important thing here<00:00:46.500> is<00:00:46.710> that<00:00:46.890> we<00:00:47.520> want<00:00:47.640> to<00:00:47.789> show<00:00:47.940> that<00:00:47.969> state 00:00:48.380 --> 00:00:48.390 align:start position:0% here is that we want to show that state 00:00:48.390 --> 00:00:50.240 align:start position:0% here is that we want to show that state channel<00:00:48.719> is<00:00:48.809> actually<00:00:49.260> going<00:00:49.379> to<00:00:49.469> help<00:00:49.950> in 00:00:50.240 --> 00:00:50.250 align:start position:0% channel is actually going to help in 00:00:50.250 --> 00:00:51.680 align:start position:0% channel is actually going to help in terms<00:00:50.370> of<00:00:50.520> user<00:00:50.760> experience<00:00:51.210> because<00:00:51.329> you<00:00:51.539> can 00:00:51.680 --> 00:00:51.690 align:start position:0% terms of user experience because you can 00:00:51.690 --> 00:00:53.660 align:start position:0% terms of user experience because you can see<00:00:51.870> that<00:00:52.050> each<00:00:52.350> of<00:00:52.410> the<00:00:52.800> state<00:00:52.980> transition<00:00:53.460> in 00:00:53.660 --> 00:00:53.670 align:start position:0% see that each of the state transition in 00:00:53.670 --> 00:00:55.729 align:start position:0% see that each of the state transition in this<00:00:53.910> kind<00:00:54.210> of<00:00:54.300> game<00:00:54.510> is<00:00:54.899> already<00:00:55.379> implemented 00:00:55.729 --> 00:00:55.739 align:start position:0% this kind of game is already implemented 00:00:55.739 --> 00:00:57.590 align:start position:0% this kind of game is already implemented as<00:00:56.070> generalized<00:00:56.550> a<00:00:56.760> channel<00:00:57.090> or<00:00:57.210> offering 00:00:57.590 --> 00:00:57.600 align:start position:0% as generalized a channel or offering 00:00:57.600 --> 00:01:00.319 align:start position:0% as generalized a channel or offering smart<00:00:57.870> contract<00:00:58.320> that's<00:00:58.469> what<00:00:58.680> we<00:00:58.829> call<00:00:59.730> it<00:00:59.879> so 00:01:00.319 --> 00:01:00.329 align:start position:0% smart contract that's what we call it so 00:01:00.329 --> 00:01:02.000 align:start position:0% smart contract that's what we call it so this<00:01:00.719> is<00:01:00.870> kind<00:01:01.109> of<00:01:01.140> the<00:01:01.320> other<00:01:01.440> experience<00:01:01.920> you 00:01:02.000 --> 00:01:02.010 align:start position:0% this is kind of the other experience you 00:01:02.010 --> 00:01:04.189 align:start position:0% this is kind of the other experience you can<00:01:02.190> experience<00:01:02.789> and<00:01:02.969> we<00:01:03.390> also<00:01:03.570> have<00:01:03.960> the 00:01:04.189 --> 00:01:04.199 align:start position:0% can experience and we also have the 00:01:04.199 --> 00:01:06.820 align:start position:0% can experience and we also have the dispute<00:01:04.680> protocol<00:01:05.189> and<00:01:05.369> fousey<00:01:05.790> was<00:01:05.909> opened<00:01:06.270> I 00:01:06.820 --> 00:01:06.830 align:start position:0% dispute protocol and fousey was opened I 00:01:06.830 --> 00:01:11.570 align:start position:0% dispute protocol and fousey was opened I implemented<00:01:07.830> now<00:01:08.780> with<00:01:09.780> this<00:01:09.990> we<00:01:10.950> launched 00:01:11.570 --> 00:01:11.580 align:start position:0% implemented now with this we launched 00:01:11.580 --> 00:01:13.580 align:start position:0% implemented now with this we launched this<00:01:11.790> personal<00:01:12.600> app<00:01:12.869> including<00:01:13.500> this 00:01:13.580 --> 00:01:13.590 align:start position:0% this personal app including this 00:01:13.590 --> 00:01:15.560 align:start position:0% this personal app including this application<00:01:14.250> on<00:01:14.460> if<00:01:14.790> you<00:01:14.880> miss<00:01:15.030> San<00:01:15.119> Francisco 00:01:15.560 --> 00:01:15.570 align:start position:0% application on if you miss San Francisco 00:01:15.570 --> 00:01:19.670 align:start position:0% application on if you miss San Francisco and<00:01:15.810> after<00:01:16.460> about<00:01:18.200> after<00:01:19.200> about<00:01:19.380> three<00:01:19.650> weeks 00:01:19.670 --> 00:01:19.680 align:start position:0% and after about after about three weeks 00:01:19.680 --> 00:01:22.600 align:start position:0% and after about after about three weeks we<00:01:20.040> have<00:01:20.220> 900<00:01:21.060> installs<00:01:21.509> of 00:01:22.600 --> 00:01:22.610 align:start position:0% we have 900 installs of 00:01:22.610 --> 00:01:25.100 align:start position:0% we have 900 installs of 15:15<00:01:23.610> sound<00:01:23.909> in<00:01:24.090> the<00:01:24.210> payments<00:01:24.659> and<00:01:24.869> and 00:01:25.100 --> 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that this 00:01:35.970 --> 00:01:38.390 align:start position:0% thing I want to highlight is that this is<00:01:36.119> all<00:01:36.360> on<00:01:36.630> test<00:01:36.990> not<00:01:37.140> if<00:01:37.530> we<00:01:37.770> put<00:01:38.009> all<00:01:38.220> these 00:01:38.390 --> 00:01:38.400 align:start position:0% is all on test not if we put all these 00:01:38.400 --> 00:01:40.460 align:start position:0% is all on test not if we put all these like<00:01:38.640> transactions<00:01:39.210> back<00:01:39.450> to<00:01:39.600> back<00:01:39.780> into<00:01:40.320> this 00:01:40.460 --> 00:01:40.470 align:start position:0% like transactions back to back into this 00:01:40.470 --> 00:01:43.219 align:start position:0% like transactions back to back into this entire<00:01:40.950> about<00:01:41.700> blockchain<00:01:41.970> it<00:01:42.150> takes<00:01:42.509> 57<00:01:42.840> days 00:01:43.219 --> 00:01:43.229 align:start position:0% entire about blockchain it takes 57 days 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retention<00:01:50.430> ratio<00:01:50.579> even<00:01:51.060> if<00:01:51.390> like<00:01:51.570> people<00:01:52.140> know 00:01:52.310 --> 00:01:52.320 align:start position:0% retention ratio even if like people know 00:01:52.320 --> 00:01:53.990 align:start position:0% retention ratio even if like people know this<00:01:52.470> is<00:01:52.619> fake<00:01:52.740> money<00:01:52.979> they<00:01:53.280> still<00:01:53.520> stick<00:01:53.820> on 00:01:53.990 --> 00:01:54.000 align:start position:0% this is fake money they still stick on 00:01:54.000 --> 00:01:56.090 align:start position:0% this is fake money they still stick on it<00:01:54.149> so<00:01:54.420> this<00:01:54.600> is<00:01:54.689> like<00:01:54.810> kind<00:01:54.960> of<00:01:55.439> amazing<00:01:55.860> thing 00:01:56.090 --> 00:01:56.100 align:start position:0% it so this is like kind of amazing thing 00:01:56.100 --> 00:01:57.889 align:start position:0% it so this is like kind of amazing thing that<00:01:56.159> we<00:01:56.310> think<00:01:56.700> generalized<00:01:57.329> a<00:01:57.509> channel<00:01:57.780> can 00:01:57.889 --> 00:01:57.899 align:start position:0% that we think generalized a channel can 00:01:57.899 --> 00:01:59.690 align:start position:0% that we think generalized a channel can bring<00:01:58.140> to<00:01:58.259> the<00:01:58.350> table<00:01:58.469> that<00:01:58.649> is<00:01:58.799> real<00:01:59.130> mass 00:01:59.690 --> 00:01:59.700 align:start position:0% bring to the table that is real mass 00:01:59.700 --> 00:02:02.420 align:start position:0% bring to the table that is real mass user<00:02:00.000> adoption<00:02:00.329> that<00:02:01.200> is<00:02:01.350> pending<00:02:01.590> and<00:02:01.979> we 00:02:02.420 --> 00:02:02.430 align:start position:0% user adoption that is pending and we 00:02:02.430 --> 00:02:04.760 align:start position:0% user adoption that is pending and we have<00:02:02.969> the<00:02:03.119> SDK<00:02:03.600> already<00:02:03.930> released<00:02:04.290> a<00:02:04.409> day<00:02:04.560> and 00:02:04.760 --> 00:02:04.770 align:start position:0% have the SDK already released a day and 00:02:04.770 --> 00:02:06.380 align:start position:0% have the SDK already released a day and multiple<00:02:05.189> teams<00:02:05.369> are<00:02:05.610> already<00:02:05.759> building<00:02:06.210> on 00:02:06.380 --> 00:02:06.390 align:start position:0% multiple teams are already building on 00:02:06.390 --> 00:02:08.900 align:start position:0% multiple teams are already building on top<00:02:06.600> of<00:02:06.659> the<00:02:06.840> SDK<00:02:07.290> with<00:02:07.710> off-tune<00:02:08.489> prediction 00:02:08.900 --> 00:02:08.910 align:start position:0% top of the SDK with off-tune prediction 00:02:08.910 --> 00:02:11.990 align:start position:0% top of the SDK with off-tune prediction market<00:02:09.270> some<00:02:09.720> more<00:02:09.959> poor<00:02:10.229> games<00:02:10.530> and<00:02:11.000> it's 00:02:11.990 --> 00:02:12.000 align:start position:0% market some more poor games and it's 00:02:12.000 --> 00:02:13.070 align:start position:0% market some more poor games and it's some<00:02:12.120> even<00:02:12.450> some 00:02:13.070 --> 00:02:13.080 align:start position:0% some even some 00:02:13.080 --> 00:02:15.410 align:start position:0% some even some I<00:02:13.110> sell<00:02:13.380> a<00:02:13.590> micro<00:02:14.040> payment<00:02:14.430> or<00:02:14.580> like<00:02:15.090> basically 00:02:15.410 --> 00:02:15.420 align:start position:0% I sell a micro payment or like basically 00:02:15.420 --> 00:02:17.990 align:start position:0% I sell a micro payment or like basically a<00:02:15.540> micro<00:02:15.960> services<00:02:16.380> and<00:02:16.530> solutions<00:02:16.970> so<00:02:17.970> you 00:02:17.990 --> 00:02:18.000 align:start position:0% a micro services and solutions so you 00:02:18.000 --> 00:02:19.700 align:start position:0% a micro services and solutions so you your<00:02:18.330> Vericut<00:02:18.750> welcome<00:02:19.050> to<00:02:19.200> a<00:02:19.230> look<00:02:19.380> up<00:02:19.530> or<00:02:19.680> a 00:02:19.700 --> 00:02:19.710 align:start position:0% your Vericut welcome to a look up or a 00:02:19.710 --> 00:02:21.800 align:start position:0% your Vericut welcome to a look up or a github<00:02:20.490> and<00:02:20.670> there<00:02:20.940> are<00:02:21.090> tutorials<00:02:21.420> about 00:02:21.800 --> 00:02:21.810 align:start position:0% github and there are tutorials about 00:02:21.810 --> 00:02:24.070 align:start position:0% github and there are tutorials about that<00:02:22.050> so<00:02:22.350> jumping<00:02:23.130> to<00:02:23.370> a<00:02:23.400> certain<00:02:23.760> network 00:02:24.070 --> 00:02:24.080 align:start position:0% that so jumping to a certain network 00:02:24.080 --> 00:02:26.900 align:start position:0% that so jumping to a certain network what<00:02:25.080> is<00:02:25.200> there<00:02:25.380> a<00:02:25.410> network<00:02:25.740> is<00:02:25.950> a<00:02:26.190> coherent<00:02:26.760> of 00:02:26.900 --> 00:02:26.910 align:start position:0% what is there a network is a coherent of 00:02:26.910 --> 00:02:28.880 align:start position:0% what is there a network is a coherent of chain<00:02:27.180> scaling<00:02:27.570> architecture<00:02:28.110> what<00:02:28.710> I<00:02:28.740> mean 00:02:28.880 --> 00:02:28.890 align:start position:0% chain scaling architecture what I mean 00:02:28.890 --> 00:02:30.980 align:start position:0% chain scaling architecture what I mean by<00:02:29.040> all<00:02:29.340> we<00:02:29.550> mean<00:02:29.670> by<00:02:29.850> that<00:02:30.030> is<00:02:30.270> setter<00:02:30.600> network 00:02:30.980 --> 00:02:30.990 align:start position:0% by all we mean by that is setter network 00:02:30.990 --> 00:02:35.030 align:start position:0% by all we mean by that is setter network has<00:02:31.170> two<00:02:31.470> parts<00:02:31.830> one<00:02:32.040> is<00:02:32.090> the<00:02:33.860> technology<00:02:34.860> part 00:02:35.030 --> 00:02:35.040 align:start position:0% has two parts one is the technology part 00:02:35.040 --> 00:02:37.250 align:start position:0% has two parts one is the technology part called<00:02:35.310> C<00:02:35.490> stack<00:02:35.760> we<00:02:36.000> propose<00:02:36.330> a<00:02:36.570> layer 00:02:37.250 --> 00:02:37.260 align:start position:0% called C stack we propose a layer 00:02:37.260 --> 00:02:39.020 align:start position:0% called C stack we propose a layer technology<00:02:37.650> architecture<00:02:38.100> and<00:02:38.670> the<00:02:38.850> other 00:02:39.020 --> 00:02:39.030 align:start position:0% technology architecture and the other 00:02:39.030 --> 00:02:41.270 align:start position:0% technology architecture and the other part<00:02:39.330> is<00:02:39.450> economics<00:02:40.110> which<00:02:40.560> we<00:02:40.710> propose<00:02:41.010> some 00:02:41.270 --> 00:02:41.280 align:start position:0% part is economics which we propose some 00:02:41.280 --> 00:02:42.860 align:start position:0% part is economics which we propose some crypto<00:02:41.610> economic<00:02:42.000> construct<00:02:42.360> to<00:02:42.450> solve<00:02:42.690> some 00:02:42.860 --> 00:02:42.870 align:start position:0% crypto economic construct to solve some 00:02:42.870 --> 00:02:44.540 align:start position:0% crypto economic construct to solve some challenges<00:02:43.320> in<00:02:43.440> the<00:02:43.740> state<00:02:43.950> channel<00:02:44.220> networks 00:02:44.540 --> 00:02:44.550 align:start position:0% challenges in the state channel networks 00:02:44.550 --> 00:02:48.200 align:start position:0% challenges in the state channel networks and<00:02:45.710> you<00:02:46.710> know<00:02:46.800> for<00:02:47.070> C<00:02:47.250> stack<00:02:47.550> we<00:02:47.970> basically 00:02:48.200 --> 00:02:48.210 align:start position:0% and you know for C stack we basically 00:02:48.210 --> 00:02:49.670 align:start position:0% and you know for C stack we basically solve<00:02:48.540> the<00:02:48.690> question<00:02:49.050> of<00:02:49.170> how<00:02:49.410> to<00:02:49.470> support 00:02:49.670 --> 00:02:49.680 align:start position:0% solve the question of how to support 00:02:49.680 --> 00:02:52.010 align:start position:0% solve the question of how to support generalized<00:02:50.130> options<00:02:50.910> skating<00:02:51.300> how<00:02:51.660> do<00:02:51.720> that 00:02:52.010 --> 00:02:52.020 align:start position:0% generalized options skating how do that 00:02:52.020 --> 00:02:54.620 align:start position:0% generalized options skating how do that route<00:02:52.410> radio<00:02:52.890> transfer<00:02:53.520> efficiently<00:02:54.180> in<00:02:54.450> this 00:02:54.620 --> 00:02:54.630 align:start position:0% route radio transfer efficiently in this 00:02:54.630 --> 00:02:56.210 align:start position:0% route radio transfer efficiently in this caliber<00:02:54.900> of<00:02:54.990> things<00:02:55.320> gaming<00:02:55.470> networks<00:02:55.920> and 00:02:56.210 --> 00:02:56.220 align:start position:0% caliber of things gaming networks and 00:02:56.220 --> 00:02:58.040 align:start position:0% caliber of things gaming networks and how<00:02:56.490> to<00:02:56.550> bring<00:02:56.820> mass<00:02:57.000> adoption<00:02:57.270> to<00:02:57.630> offering 00:02:58.040 --> 00:02:58.050 align:start position:0% how to bring mass adoption to offering 00:02:58.050 --> 00:03:00.860 align:start position:0% how to bring mass adoption to offering the<00:02:58.770> apps<00:02:58.950> by<00:02:59.310> providing<00:02:59.790> a<00:02:59.970> better<00:03:00.570> user 00:03:00.860 --> 00:03:00.870 align:start position:0% the apps by providing a better user 00:03:00.870 --> 00:03:02.900 align:start position:0% the apps by providing a better user interface<00:03:01.200> and<00:03:01.380> developer<00:03:01.740> applications<00:03:02.370> so 00:03:02.900 --> 00:03:02.910 align:start position:0% interface and developer applications so 00:03:02.910 --> 00:03:05.510 align:start position:0% interface and developer applications so C<00:03:03.840> channel<00:03:04.200> is<00:03:04.320> the<00:03:04.530> lowest<00:03:04.860> layer<00:03:05.070> what<00:03:05.459> do 00:03:05.510 --> 00:03:05.520 align:start position:0% C channel is the lowest layer what do 00:03:05.520 --> 00:03:07.070 align:start position:0% C channel is the lowest layer what do you<00:03:05.580> see<00:03:05.730> channel<00:03:06.030> is<00:03:06.209> basically<00:03:06.480> basically 00:03:07.070 --> 00:03:07.080 align:start position:0% you see channel is basically basically 00:03:07.080 --> 00:03:10.520 align:start position:0% you see channel is basically basically our<00:03:07.500> generalized<00:03:08.040> a<00:03:08.280> channel<00:03:08.870> construct<00:03:09.870> we 00:03:10.520 --> 00:03:10.530 align:start position:0% our generalized a channel construct we 00:03:10.530 --> 00:03:12.770 align:start position:0% our generalized a channel construct we came<00:03:11.040> to<00:03:11.370> this<00:03:11.550> generalized<00:03:11.970> channel 00:03:12.770 --> 00:03:12.780 align:start position:0% came to this generalized channel 00:03:12.780 --> 00:03:14.900 align:start position:0% came to this generalized channel constructor<00:03:13.290> from<00:03:13.470> the<00:03:14.160> concept<00:03:14.670> of<00:03:14.790> a 00:03:14.900 --> 00:03:14.910 align:start position:0% constructor from the concept of a 00:03:14.910 --> 00:03:16.220 align:start position:0% constructor from the concept of a conditional<00:03:15.330> payment<00:03:15.690> and<00:03:15.780> the<00:03:15.840> conditional 00:03:16.220 --> 00:03:16.230 align:start position:0% conditional payment and the conditional 00:03:16.230 --> 00:03:20.690 align:start position:0% conditional payment and the conditional dependency<00:03:16.770> so<00:03:18.920> let<00:03:19.920> me<00:03:20.010> just<00:03:20.160> like<00:03:20.340> give<00:03:20.670> a 00:03:20.690 --> 00:03:20.700 align:start position:0% dependency so let me just like give a 00:03:20.700 --> 00:03:22.460 align:start position:0% dependency so let me just like give a quick<00:03:21.030> overview<00:03:21.120> here<00:03:21.750> this<00:03:22.170> is<00:03:22.290> like<00:03:22.440> a 00:03:22.460 --> 00:03:22.470 align:start position:0% quick overview here this is like a 00:03:22.470 --> 00:03:24.979 align:start position:0% quick overview here this is like a channel<00:03:22.860> spat<00:03:23.310> you<00:03:24.000> can<00:03:24.180> write<00:03:24.360> so<00:03:24.540> when 00:03:24.979 --> 00:03:24.989 align:start position:0% channel spat you can write so when 00:03:24.989 --> 00:03:26.420 align:start position:0% channel spat you can write so when you're<00:03:25.110> writing<00:03:25.290> a<00:03:25.530> generalized<00:03:25.980> a<00:03:26.100> channel 00:03:26.420 --> 00:03:26.430 align:start position:0% you're writing a generalized a channel 00:03:26.430 --> 00:03:28.190 align:start position:0% you're writing a generalized a channel application<00:03:26.880> what<00:03:27.060> you're<00:03:27.239> writing<00:03:27.450> is<00:03:27.840> first 00:03:28.190 --> 00:03:28.200 align:start position:0% application what you're writing is first 00:03:28.200 --> 00:03:31.670 align:start position:0% application what you're writing is first part<00:03:28.470> is<00:03:28.650> a<00:03:29.040> smart<00:03:30.000> contract<00:03:30.420> so<00:03:30.570> to<00:03:30.780> write<00:03:31.500> a 00:03:31.670 --> 00:03:31.680 align:start position:0% part is a smart contract so to write a 00:03:31.680 --> 00:03:33.470 align:start position:0% part is a smart contract so to write a generalized<00:03:32.100> a<00:03:32.280> channel<00:03:32.610> smart<00:03:32.880> contractor 00:03:33.470 --> 00:03:33.480 align:start position:0% generalized a channel smart contractor 00:03:33.480 --> 00:03:35.030 align:start position:0% generalized a channel smart contractor you<00:03:33.690> basically<00:03:33.989> need<00:03:34.170> to<00:03:34.230> implement<00:03:34.620> these 00:03:35.030 --> 00:03:35.040 align:start position:0% you basically need to implement these 00:03:35.040 --> 00:03:36.860 align:start position:0% you basically need to implement these kind<00:03:35.310> of<00:03:35.340> functions<00:03:35.519> and<00:03:36.000> also<00:03:36.360> have<00:03:36.660> these 00:03:36.860 --> 00:03:36.870 align:start position:0% kind of functions and also have these 00:03:36.870 --> 00:03:39.320 align:start position:0% kind of functions and also have these kind<00:03:37.110> of<00:03:37.170> you<00:03:37.950> know<00:03:38.040> States<00:03:38.310> in<00:03:38.580> it<00:03:38.730> so<00:03:39.030> I'm 00:03:39.320 --> 00:03:39.330 align:start position:0% kind of you know States in it so I'm 00:03:39.330 --> 00:03:41.540 align:start position:0% kind of you know States in it so I'm gonna<00:03:39.510> not<00:03:39.900> talk<00:03:40.200> too<00:03:40.440> much<00:03:40.620> in<00:03:40.890> detail<00:03:41.190> about 00:03:41.540 --> 00:03:41.550 align:start position:0% gonna not talk too much in detail about 00:03:41.550 --> 00:03:43.490 align:start position:0% gonna not talk too much in detail about that<00:03:41.610> but<00:03:41.940> we<00:03:42.060> have<00:03:42.269> a<00:03:42.300> separate<00:03:42.750> talk<00:03:42.930> I<00:03:43.170> will 00:03:43.490 --> 00:03:43.500 align:start position:0% that but we have a separate talk I will 00:03:43.500 --> 00:03:46.040 align:start position:0% that but we have a separate talk I will refer<00:03:43.739> to<00:03:43.769> later<00:03:44.070> but<00:03:44.640> a<00:03:44.910> key<00:03:45.209> part<00:03:45.239> a<00:03:45.660> key<00:03:45.810> part 00:03:46.040 --> 00:03:46.050 align:start position:0% refer to later but a key part a key part 00:03:46.050 --> 00:03:48.110 align:start position:0% refer to later but a key part a key part here<00:03:46.110> is<00:03:46.380> that<00:03:46.500> this<00:03:47.310> kind<00:03:47.580> of<00:03:47.610> construct 00:03:48.110 --> 00:03:48.120 align:start position:0% here is that this kind of construct 00:03:48.120 --> 00:03:50.110 align:start position:0% here is that this kind of construct enable<00:03:48.810> generalize<00:03:49.590> the<00:03:49.800> state-transition 00:03:50.110 --> 00:03:50.120 align:start position:0% enable generalize the state-transition 00:03:50.120 --> 00:03:51.920 align:start position:0% enable generalize the state-transition generalize<00:03:51.120> the<00:03:51.239> conditional<00:03:51.750> state 00:03:51.920 --> 00:03:51.930 align:start position:0% generalize the conditional state 00:03:51.930 --> 00:03:53.690 align:start position:0% generalize the conditional state transitions<00:03:52.440> that<00:03:52.890> is<00:03:53.040> like<00:03:53.220> you<00:03:53.340> can<00:03:53.489> make 00:03:53.690 --> 00:03:53.700 align:start position:0% transitions that is like you can make 00:03:53.700 --> 00:03:55.280 align:start position:0% transitions that is like you can make your<00:03:53.880> transition<00:03:54.120> in<00:03:54.570> your<00:03:54.720> state<00:03:54.930> channel 00:03:55.280 --> 00:03:55.290 align:start position:0% your transition in your state channel 00:03:55.290 --> 00:03:57.170 align:start position:0% your transition in your state channel and<00:03:55.470> continually<00:03:56.190> depends<00:03:56.610> on<00:03:56.700> some<00:03:56.940> other 00:03:57.170 --> 00:03:57.180 align:start position:0% and continually depends on some other 00:03:57.180 --> 00:03:59.810 align:start position:0% and continually depends on some other transitions<00:03:57.810> in<00:03:57.989> some<00:03:58.170> other<00:03:58.650> state<00:03:59.430> Channel 00:03:59.810 --> 00:03:59.820 align:start position:0% transitions in some other state Channel 00:03:59.820 --> 00:04:01.460 align:start position:0% transitions in some other state Channel and<00:03:59.910> ultimately<00:04:00.209> you<00:04:00.660> can<00:04:00.810> build<00:04:01.019> this<00:04:01.140> rather 00:04:01.460 --> 00:04:01.470 align:start position:0% and ultimately you can build this rather 00:04:01.470 --> 00:04:03.650 align:start position:0% and ultimately you can build this rather complex<00:04:01.920> conditional<00:04:02.820> dependency<00:04:03.300> tag<00:04:03.510> to 00:04:03.650 --> 00:04:03.660 align:start position:0% complex conditional dependency tag to 00:04:03.660 --> 00:04:06.370 align:start position:0% complex conditional dependency tag to implement<00:04:04.080> the<00:04:04.140> complex<00:04:04.610> you<00:04:05.610> know 00:04:06.370 --> 00:04:06.380 align:start position:0% implement the complex you know 00:04:06.380 --> 00:04:08.420 align:start position:0% implement the complex you know generalization<00:04:07.380> or<00:04:07.410> application<00:04:07.920> logics<00:04:08.310> and 00:04:08.420 --> 00:04:08.430 align:start position:0% generalization or application logics and 00:04:08.430 --> 00:04:10.520 align:start position:0% generalization or application logics and to<00:04:08.850> just<00:04:09.060> make<00:04:09.330> it<00:04:09.360> a<00:04:09.510> little<00:04:09.930> more<00:04:10.110> concrete 00:04:10.520 --> 00:04:10.530 align:start position:0% to just make it a little more concrete 00:04:10.530 --> 00:04:12.800 align:start position:0% to just make it a little more concrete here<00:04:11.070> to<00:04:11.730> talk<00:04:11.940> about<00:04:11.970> like<00:04:12.269> what<00:04:12.450> we<00:04:12.600> did<00:04:12.750> in 00:04:12.800 --> 00:04:12.810 align:start position:0% here to talk about like what we did in 00:04:12.810 --> 00:04:15.830 align:start position:0% here to talk about like what we did in the<00:04:13.080> game<00:04:13.260> for<00:04:13.620> example<00:04:14.000> so<00:04:15.000> let's<00:04:15.180> say<00:04:15.299> Alice 00:04:15.830 --> 00:04:15.840 align:start position:0% the game for example so let's say Alice 00:04:15.840 --> 00:04:18.259 align:start position:0% the game for example so let's say Alice and<00:04:16.019> Bob<00:04:16.169> have<00:04:16.200> the<00:04:16.560> channel<00:04:16.919> and<00:04:17.100> sorry<00:04:17.970> Alice 00:04:18.259 --> 00:04:18.269 align:start position:0% and Bob have the channel and sorry Alice 00:04:18.269 --> 00:04:19.580 align:start position:0% and Bob have the channel and sorry Alice and<00:04:18.419> more<00:04:18.570> have<00:04:18.750> a<00:04:18.780> channel<00:04:19.140> more<00:04:19.320> and<00:04:19.440> power 00:04:19.580 --> 00:04:19.590 align:start position:0% and more have a channel more and power 00:04:19.590 --> 00:04:21.409 align:start position:0% and more have a channel more and power have<00:04:19.769> a<00:04:19.799> channel<00:04:20.040> and<00:04:20.280> and<00:04:20.669> it's<00:04:20.850> one<00:04:21.030> to<00:04:21.209> play 00:04:21.409 --> 00:04:21.419 align:start position:0% have a channel and and it's one to play 00:04:21.419 --> 00:04:23.719 align:start position:0% have a channel and and it's one to play a<00:04:21.450> game<00:04:21.720> with<00:04:21.959> Bob<00:04:22.229> and<00:04:22.770> while<00:04:23.190> patting<00:04:23.460> on 00:04:23.719 --> 00:04:23.729 align:start position:0% a game with Bob and while patting on 00:04:23.729 --> 00:04:26.640 align:start position:0% a game with Bob and while patting on point<00:04:24.060> one<00:04:24.210> is<00:04:24.450> right<00:04:25.050> so<00:04:25.169> or<00:04:25.770> pending<00:04:26.430> on 00:04:26.640 --> 00:04:26.650 align:start position:0% point one is right so or pending on 00:04:26.650 --> 00:04:28.530 align:start position:0% point one is right so or pending on five<00:04:26.979> dollars<00:04:27.310> here<00:04:27.520> okay<00:04:28.030> so<00:04:28.210> what's<00:04:28.389> gonna 00:04:28.530 --> 00:04:28.540 align:start position:0% five dollars here okay so what's gonna 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beginning the conditional<00:04:36.460> payment<00:04:36.759> will<00:04:36.910> be<00:04:37.090> like<00:04:37.300> you 00:04:38.040 --> 00:04:38.050 align:start position:0% conditional payment will be like you 00:04:38.050 --> 00:04:39.870 align:start position:0% conditional payment will be like you know<00:04:38.139> a<00:04:38.350> pooling<00:04:38.770> and<00:04:39.039> the<00:04:39.310> condition<00:04:39.699> group 00:04:39.870 --> 00:04:39.880 align:start position:0% know a pooling and the condition group 00:04:39.880 --> 00:04:41.219 align:start position:0% know a pooling and the condition group there<00:04:40.060> is<00:04:40.090> a<00:04:40.210> pudding<00:04:40.419> and<00:04:40.600> condition<00:04:41.050> group 00:04:41.219 --> 00:04:41.229 align:start position:0% there is a pudding and condition group 00:04:41.229 --> 00:04:43.770 align:start position:0% there is a pudding and condition group on<00:04:41.380> top<00:04:41.530> of<00:04:41.650> it<00:04:41.770> what<00:04:42.370> it<00:04:42.460> means<00:04:42.699> is<00:04:42.910> that<00:04:42.940> only 00:04:43.770 --> 00:04:43.780 align:start position:0% on top of it what it means is that only 00:04:43.780 --> 00:04:46.499 align:start position:0% on top of it what it means is that only if<00:04:44.080> condition<00:04:44.289> C<00:04:44.979> 1<00:04:45.160> C<00:04:45.520> 2<00:04:45.550> both<00:04:45.850> evaluates<00:04:46.419> the 00:04:46.499 --> 00:04:46.509 align:start position:0% if condition C 1 C 2 both evaluates the 00:04:46.509 --> 00:04:48.210 align:start position:0% if condition C 1 C 2 both evaluates the true<00:04:46.539> then<00:04:47.169> this<00:04:47.350> condition<00:04:47.620> and<00:04:47.919> payment 00:04:48.210 --> 00:04:48.220 align:start position:0% true then this condition and payment 00:04:48.220 --> 00:04:50.279 align:start position:0% true then this condition and payment actually<00:04:48.400> goes<00:04:48.759> through<00:04:49.030> right<00:04:49.449> so<00:04:49.630> there<00:04:50.199> are 00:04:50.279 --> 00:04:50.289 align:start position:0% actually goes through right so there are 00:04:50.289 --> 00:04:52.379 align:start position:0% actually goes through right so there are two<00:04:50.440> conditions<00:04:50.650> in<00:04:51.009> it<00:04:51.160> one<00:04:51.430> is<00:04:51.520> the<00:04:51.669> standard 00:04:52.379 --> 00:04:52.389 align:start position:0% two conditions in it one is the standard 00:04:52.389 --> 00:04:54.540 align:start position:0% two conditions in it one is the standard multi<00:04:52.960> help<00:04:53.199> intermediate<00:04:53.889> mediated 00:04:54.540 --> 00:04:54.550 align:start position:0% multi help intermediate mediated 00:04:54.550 --> 00:04:57.090 align:start position:0% multi help intermediate mediated transfer<00:04:55.030> HT<00:04:55.360> or<00:04:55.449> registry<00:04:55.900> condition<00:04:56.350> and<00:04:56.680> so 00:04:57.090 --> 00:04:57.100 align:start position:0% transfer HT or registry condition and so 00:04:57.100 --> 00:04:58.950 align:start position:0% transfer HT or registry condition and so basically<00:04:57.310> we<00:04:57.490> generalize<00:04:57.880> that<00:04:58.120> HT<00:04:58.630> l<00:04:58.720> part 00:04:58.950 --> 00:04:58.960 align:start position:0% basically we generalize that HT l part 00:04:58.960 --> 00:05:01.860 align:start position:0% basically we generalize that HT l part also<00:04:59.199> as<00:04:59.530> a<00:04:59.770> condition<00:05:00.310> and<00:05:00.940> also<00:05:01.210> the<00:05:01.690> address 00:05:01.860 --> 00:05:01.870 align:start position:0% also as a condition and also the address 00:05:01.870 --> 00:05:03.840 align:start position:0% also as a condition and also the address in<00:05:02.050> the<00:05:02.110> ballgame<00:05:02.320> after<00:05:03.220> this<00:05:03.460> kind<00:05:03.639> of<00:05:03.760> a 00:05:03.840 --> 00:05:03.850 align:start position:0% in the ballgame after this kind of a 00:05:03.850 --> 00:05:09.450 align:start position:0% in the ballgame after this kind of a pass<00:05:04.389> start<00:05:04.930> up<00:05:05.020> you<00:05:05.800> know<00:05:05.940> the<00:05:06.940> the<00:05:07.510> you<00:05:08.500> will 00:05:09.450 --> 00:05:09.460 align:start position:0% pass start up you know the the you will 00:05:09.460 --> 00:05:11.129 align:start position:0% pass start up you know the the you will see<00:05:09.580> only<00:05:09.789> one<00:05:10.120> we<00:05:10.300> peel<00:05:10.570> off<00:05:10.780> the<00:05:10.930> first 00:05:11.129 --> 00:05:11.139 align:start position:0% see only one we peel off the first 00:05:11.139 --> 00:05:12.480 align:start position:0% see only one we peel off the first condition<00:05:11.500> and<00:05:11.590> the<00:05:11.650> only<00:05:11.800> one<00:05:12.100> condition 00:05:12.480 --> 00:05:12.490 align:start position:0% condition and the only one condition 00:05:12.490 --> 00:05:14.340 align:start position:0% condition and the only one condition last<00:05:12.610> work<00:05:12.910> which<00:05:13.090> is<00:05:13.240> like<00:05:13.389> the<00:05:13.900> Alice<00:05:14.169> and 00:05:14.340 --> 00:05:14.350 align:start position:0% last work which is like the Alice and 00:05:14.350 --> 00:05:17.040 align:start position:0% last work which is like the Alice and Bob<00:05:14.530> said<00:05:14.680> game<00:05:14.919> condition<00:05:15.400> and<00:05:15.960> you<00:05:16.960> know 00:05:17.040 --> 00:05:17.050 align:start position:0% Bob said game condition and you know 00:05:17.050 --> 00:05:19.500 align:start position:0% Bob said game condition and you know when<00:05:17.680> when<00:05:18.039> the<00:05:18.190> game<00:05:18.400> finally<00:05:18.729> finishes<00:05:19.360> the 00:05:19.500 --> 00:05:19.510 align:start position:0% when when the game finally finishes the 00:05:19.510 --> 00:05:21.750 align:start position:0% when when the game finally finishes the Alice<00:05:19.780> and<00:05:19.930> Bob's<00:05:20.110> you<00:05:21.010> know<00:05:21.099> a<00:05:21.280> condition<00:05:21.699> or 00:05:21.750 --> 00:05:21.760 align:start position:0% Alice and Bob's you know a condition or 00:05:21.760 --> 00:05:24.060 align:start position:0% Alice and Bob's you know a condition or state<00:05:22.060> is<00:05:22.330> entirely<00:05:22.810> a<00:05:23.050> pure<00:05:23.289> often<00:05:23.710> objects 00:05:24.060 --> 00:05:24.070 align:start position:0% state is entirely a pure often objects 00:05:24.070 --> 00:05:25.920 align:start position:0% state is entirely a pure often objects that<00:05:24.220> you<00:05:24.400> translate<00:05:25.060> entirely<00:05:25.479> off<00:05:25.690> chain 00:05:25.920 --> 00:05:25.930 align:start position:0% that you translate entirely off chain 00:05:25.930 --> 00:05:28.680 align:start position:0% that you translate entirely off chain and<00:05:26.080> when<00:05:26.560> this<00:05:26.770> entire<00:05:27.130> game<00:05:27.430> finishes<00:05:27.910> this 00:05:28.680 --> 00:05:28.690 align:start position:0% and when this entire game finishes this 00:05:28.690 --> 00:05:30.270 align:start position:0% and when this entire game finishes this game<00:05:29.050> gets<00:05:29.289> resolved<00:05:29.740> at<00:05:29.860> you<00:05:30.070> a 00:05:30.270 --> 00:05:30.280 align:start position:0% game gets resolved at you a 00:05:30.280 --> 00:05:32.219 align:start position:0% game gets resolved at you a unconditional<00:05:31.060> payment<00:05:31.389> so<00:05:31.660> this<00:05:31.840> is<00:05:31.930> kind<00:05:32.169> of 00:05:32.219 --> 00:05:32.229 align:start position:0% unconditional payment so this is kind of 00:05:32.229 --> 00:05:34.080 align:start position:0% unconditional payment so this is kind of like<00:05:32.380> a<00:05:32.410> process<00:05:32.889> of<00:05:33.220> how<00:05:33.400> you<00:05:33.760> can<00:05:33.910> think 00:05:34.080 --> 00:05:34.090 align:start position:0% like a process of how you can think 00:05:34.090 --> 00:05:35.610 align:start position:0% like a process of how you can think about<00:05:34.270> the<00:05:34.449> generalized<00:05:34.810> state<00:05:35.020> channel<00:05:35.349> in 00:05:35.610 --> 00:05:35.620 align:start position:0% about the generalized state channel in 00:05:35.620 --> 00:05:39.420 align:start position:0% about the generalized state channel in the<00:05:35.860> conditional<00:05:36.280> payment<00:05:36.580> sense<00:05:37.380> so<00:05:38.380> in<00:05:39.280> C 00:05:39.420 --> 00:05:39.430 align:start position:0% the conditional payment sense so in C 00:05:39.430 --> 00:05:40.800 align:start position:0% the conditional payment sense so in C channel<00:05:39.669> we<00:05:39.729> have<00:05:39.849> a<00:05:39.910> bunch<00:05:40.240> of<00:05:40.300> out<00:05:40.510> of<00:05:40.539> box 00:05:40.800 --> 00:05:40.810 align:start position:0% channel we have a bunch of out of box 00:05:40.810 --> 00:05:42.510 align:start position:0% channel we have a bunch of out of box features<00:05:41.169> including<00:05:41.710> often<00:05:42.039> draws 00:05:42.510 --> 00:05:42.520 align:start position:0% features including often draws 00:05:42.520 --> 00:05:44.189 align:start position:0% features including often draws translator<00:05:42.940> to<00:05:43.210> achieve<00:05:43.690> this<00:05:43.870> kind<00:05:44.050> of<00:05:44.139> a 00:05:44.189 --> 00:05:44.199 align:start position:0% translator to achieve this kind of a 00:05:44.199 --> 00:05:46.379 align:start position:0% translator to achieve this kind of a pure<00:05:44.380> often<00:05:44.740> object<00:05:45.070> meaning<00:05:45.460> that<00:05:45.669> this<00:05:46.150> kind 00:05:46.379 --> 00:05:46.389 align:start position:0% pure often object meaning that this kind 00:05:46.389 --> 00:05:49.529 align:start position:0% pure often object meaning that this kind of<00:05:46.449> a<00:05:46.590> you<00:05:47.590> know<00:05:47.620> often<00:05:48.400> often<00:05:48.789> smart<00:05:49.150> contract 00:05:49.529 --> 00:05:49.539 align:start position:0% of a you know often often smart contract 00:05:49.539 --> 00:05:51.420 align:start position:0% of a you know often often smart contract doesn't<00:05:49.750> need<00:05:49.990> to<00:05:50.169> be<00:05:50.349> exist<00:05:51.039> launching 00:05:51.420 --> 00:05:51.430 align:start position:0% doesn't need to be exist launching 00:05:51.430 --> 00:05:53.760 align:start position:0% doesn't need to be exist launching unless<00:05:52.330> there's<00:05:52.599> some<00:05:52.780> people<00:05:53.139> happening<00:05:53.500> we 00:05:53.760 --> 00:05:53.770 align:start position:0% unless there's some people happening we 00:05:53.770 --> 00:05:55.409 align:start position:0% unless there's some people happening we have<00:05:53.919> cooperative<00:05:54.310> settling<00:05:54.729> we<00:05:54.970> have<00:05:55.120> single 00:05:55.409 --> 00:05:55.419 align:start position:0% have cooperative settling we have single 00:05:55.419 --> 00:05:57.510 align:start position:0% have cooperative settling we have single channel<00:05:55.690> setup<00:05:55.900> which<00:05:56.770> you<00:05:56.889> can<00:05:57.010> set<00:05:57.190> up<00:05:57.280> the 00:05:57.510 --> 00:05:57.520 align:start position:0% channel setup which you can set up the 00:05:57.520 --> 00:05:59.070 align:start position:0% channel setup which you can set up the entire<00:05:57.699> channel<00:05:58.090> with<00:05:58.240> just<00:05:58.449> one<00:05:58.690> transaction 00:05:59.070 --> 00:05:59.080 align:start position:0% entire channel with just one transaction 00:05:59.080 --> 00:06:01.379 align:start position:0% entire channel with just one transaction you<00:06:00.010> know<00:06:00.130> we<00:06:00.250> have<00:06:00.400> some<00:06:00.610> direct<00:06:01.030> the<00:06:01.120> final 00:06:01.379 --> 00:06:01.389 align:start position:0% you know we have some direct the final 00:06:01.389 --> 00:06:03.540 align:start position:0% you know we have some direct the final state<00:06:01.570> claim<00:06:02.159> functionality<00:06:03.159> dynamics 00:06:03.540 --> 00:06:03.550 align:start position:0% state claim functionality dynamics 00:06:03.550 --> 00:06:05.159 align:start position:0% state claim functionality dynamics deposit<00:06:03.940> and<00:06:04.060> withdraw<00:06:04.449> and<00:06:04.690> for<00:06:05.080> the 00:06:05.159 --> 00:06:05.169 align:start position:0% deposit and withdraw and for the 00:06:05.169 --> 00:06:07.020 align:start position:0% deposit and withdraw and for the conditions<00:06:05.650> we<00:06:05.830> implement<00:06:06.280> some<00:06:06.490> you<00:06:06.940> know 00:06:07.020 --> 00:06:07.030 align:start position:0% conditions we implement some you know 00:06:07.030 --> 00:06:09.000 align:start position:0% conditions we implement some you know our<00:06:07.180> pulse<00:06:07.539> condition<00:06:07.990> groups<00:06:08.229> core<00:06:08.680> pouring 00:06:09.000 --> 00:06:09.010 align:start position:0% our pulse condition groups core pouring 00:06:09.010 --> 00:06:11.399 align:start position:0% our pulse condition groups core pouring and<00:06:09.130> pouring<00:06:09.370> circuit<00:06:10.090> condition<00:06:10.570> and<00:06:10.720> find<00:06:11.199> a 00:06:11.399 --> 00:06:11.409 align:start position:0% and pouring circuit condition and find a 00:06:11.409 --> 00:06:12.990 align:start position:0% and pouring circuit condition and find a fun<00:06:11.650> assignment<00:06:11.800> condition<00:06:12.460> groups<00:06:12.699> and<00:06:12.880> they 00:06:12.990 --> 00:06:13.000 align:start position:0% fun assignment condition groups and they 00:06:13.000 --> 00:06:15.570 align:start position:0% fun assignment condition groups and they are<00:06:13.060> all<00:06:13.210> talk<00:06:13.419> limiting<00:06:13.750> or<00:06:13.870> read<00:06:14.020> talks<00:06:14.979> now 00:06:15.570 --> 00:06:15.580 align:start position:0% are all talk limiting or read talks now 00:06:15.580 --> 00:06:17.790 align:start position:0% are all talk limiting or read talks now this<00:06:16.210> is<00:06:16.330> like<00:06:16.479> a<00:06:16.510> quick<00:06:17.050> overview<00:06:17.260> of<00:06:17.409> the 00:06:17.790 --> 00:06:17.800 align:start position:0% this is like a quick overview of the 00:06:17.800 --> 00:06:19.589 align:start position:0% this is like a quick overview of the generate<00:06:18.099> a<00:06:18.280> channel<00:06:18.550> construct<00:06:19.000> we<00:06:19.150> have<00:06:19.389> and 00:06:19.589 --> 00:06:19.599 align:start position:0% generate a channel construct we have and 00:06:19.599 --> 00:06:22.620 align:start position:0% generate a channel construct we have and the<00:06:20.289> second<00:06:20.710> layer<00:06:20.830> of<00:06:20.889> sellers<00:06:21.880> technology 00:06:22.620 --> 00:06:22.630 align:start position:0% the second layer of sellers technology 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of<00:06:28.720> mechanism<00:06:29.260> or<00:06:29.830> semantics<00:06:30.310> to 00:06:30.480 --> 00:06:30.490 align:start position:0% this kind of mechanism or semantics to 00:06:30.490 --> 00:06:32.610 align:start position:0% this kind of mechanism or semantics to connect<00:06:30.880> to<00:06:31.060> this<00:06:31.210> off<00:06:31.840> chain<00:06:32.110> stage<00:06:32.349> channel 00:06:32.610 --> 00:06:32.620 align:start position:0% connect to this off chain stage channel 00:06:32.620 --> 00:06:34.140 align:start position:0% connect to this off chain stage channel network<00:06:32.889> once<00:06:33.130> and<00:06:33.310> use<00:06:33.460> it<00:06:33.610> forever 00:06:34.140 --> 00:06:34.150 align:start position:0% network once and use it forever 00:06:34.150 --> 00:06:39.060 align:start position:0% network once and use it forever right<00:06:34.479> so<00:06:34.770> now<00:06:35.909> what<00:06:36.909> why<00:06:37.900> this<00:06:37.960> off<00:06:38.680> chain 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align:start position:0% house bought like a basic day why this we<00:06:46.639> need<00:06:47.000> the<00:06:47.090> optimal<00:06:47.479> writing<00:06:48.229> but<00:06:48.349> why<00:06:48.530> it 00:06:48.580 --> 00:06:48.590 align:start position:0% we need the optimal writing but why it 00:06:48.590 --> 00:06:50.920 align:start position:0% we need the optimal writing but why it is<00:06:48.740> challenging<00:06:49.190> the<00:06:49.729> reason<00:06:50.090> is<00:06:50.270> that<00:06:50.330> the 00:06:50.920 --> 00:06:50.930 align:start position:0% is challenging the reason is that the 00:06:50.930 --> 00:06:53.020 align:start position:0% is challenging the reason is that the stage<00:06:51.289> channel<00:06:51.620> network<00:06:52.039> is<00:06:52.220> very<00:06:52.550> different 00:06:53.020 --> 00:06:53.030 align:start position:0% stage channel network is very different 00:06:53.030 --> 00:06:55.180 align:start position:0% stage channel network is very different from<00:06:53.419> a<00:06:53.810> data<00:06:54.620> network 00:06:55.180 --> 00:06:55.190 align:start position:0% from a data network 00:06:55.190 --> 00:06:57.129 align:start position:0% from a data network so<00:06:55.550> for<00:06:55.729> tailor<00:06:55.880> network<00:06:56.210> the<00:06:56.599> internet<00:06:56.630> will 00:06:57.129 --> 00:06:57.139 align:start position:0% so for tailor network the internet will 00:06:57.139 --> 00:06:58.779 align:start position:0% so for tailor network the internet will give<00:06:57.259> stateless<00:06:57.650> if<00:06:58.039> you<00:06:58.160> say<00:06:58.340> it's<00:06:58.490> 100 00:06:58.779 --> 00:06:58.789 align:start position:0% give stateless if you say it's 100 00:06:58.789 --> 00:07:00.129 align:start position:0% give stateless if you say it's 100 megabit<00:06:59.060> per<00:06:59.090> second<00:06:59.389> link<00:06:59.630> it's<00:06:59.780> gonna<00:06:59.870> stay 00:07:00.129 --> 00:07:00.139 align:start position:0% megabit per second link it's gonna stay 00:07:00.139 --> 00:07:01.540 align:start position:0% megabit per second link it's gonna stay a<00:07:00.169> hundred<00:07:00.349> miles<00:07:00.620> per<00:07:00.770> second<00:07:01.039> and<00:07:01.160> no<00:07:01.430> matter 00:07:01.540 --> 00:07:01.550 align:start position:0% a hundred miles per second and no matter 00:07:01.550 --> 00:07:03.969 align:start position:0% a hundred miles per second and no matter how<00:07:01.729> much<00:07:02.449> data<00:07:02.630> delivers<00:07:03.199> through<00:07:03.349> it<00:07:03.470> but 00:07:03.969 --> 00:07:03.979 align:start position:0% how much data delivers through it but 00:07:03.979 --> 00:07:06.850 align:start position:0% how much data delivers through it but for<00:07:04.250> a<00:07:04.430> payment<00:07:04.759> network<00:07:05.210> that<00:07:05.860> capacity 00:07:06.850 --> 00:07:06.860 align:start position:0% for a payment network that capacity 00:07:06.860 --> 00:07:08.260 align:start position:0% for a payment network that capacity actually<00:07:07.220> changes<00:07:07.610> as<00:07:07.759> you<00:07:07.910> deliver<00:07:08.180> a 00:07:08.260 --> 00:07:08.270 align:start position:0% actually changes as you deliver a 00:07:08.270 --> 00:07:11.230 align:start position:0% actually changes as you deliver a payment<00:07:08.630> through<00:07:08.960> each<00:07:09.110> direction<00:07:09.319> and<00:07:10.240> using 00:07:11.230 --> 00:07:11.240 align:start position:0% payment through each direction and using 00:07:11.240 --> 00:07:12.969 align:start position:0% payment through each direction and using simple<00:07:11.690> algorithms<00:07:12.199> like<00:07:12.380> shawl<00:07:12.590> his<00:07:12.740> fast 00:07:12.969 --> 00:07:12.979 align:start position:0% simple algorithms like shawl his fast 00:07:12.979 --> 00:07:15.309 align:start position:0% simple algorithms like shawl his fast routing<00:07:13.310> can<00:07:13.639> break<00:07:13.909> down<00:07:14.090> the<00:07:14.270> channel<00:07:14.630> very 00:07:15.309 --> 00:07:15.319 align:start position:0% routing can break down the channel very 00:07:15.319 --> 00:07:17.680 align:start position:0% routing can break down the channel very quickly<00:07:15.650> and<00:07:15.949> when<00:07:16.190> the<00:07:16.340> channel<00:07:16.789> within<00:07:17.479> this 00:07:17.680 --> 00:07:17.690 align:start position:0% quickly and when the channel within this 00:07:17.690 --> 00:07:19.390 align:start position:0% quickly and when the channel within this internet<00:07:18.199> what<00:07:18.409> apology<00:07:18.710> is<00:07:18.949> constantly 00:07:19.390 --> 00:07:19.400 align:start position:0% internet what apology is constantly 00:07:19.400 --> 00:07:21.610 align:start position:0% internet what apology is constantly changing<00:07:19.610> there's<00:07:20.240> no<00:07:20.539> way<00:07:20.750> a<00:07:20.930> decentralized 00:07:21.610 --> 00:07:21.620 align:start position:0% changing there's no way a decentralized 00:07:21.620 --> 00:07:25.020 align:start position:0% changing there's no way a decentralized routing<00:07:22.370> algorithm<00:07:22.849> can<00:07:23.449> actually<00:07:23.840> work<00:07:23.990> so 00:07:25.020 --> 00:07:25.030 align:start position:0% routing algorithm can actually work so 00:07:25.030 --> 00:07:28.420 align:start position:0% routing algorithm can actually work so what<00:07:26.030> we<00:07:26.210> proposed<00:07:26.630> is<00:07:26.930> called<00:07:27.770> sea<00:07:27.979> route<00:07:28.130> and 00:07:28.420 --> 00:07:28.430 align:start position:0% what we proposed is called sea route and 00:07:28.430 --> 00:07:30.490 align:start position:0% what we proposed is called sea route and the<00:07:28.970> principle<00:07:29.479> of<00:07:29.599> sea<00:07:29.840> road<00:07:30.020> is<00:07:30.229> to 00:07:30.490 --> 00:07:30.500 align:start position:0% the principle of sea road is to 00:07:30.500 --> 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and<00:07:38.810> ok<00:07:39.680> then<00:07:39.919> maybe<00:07:40.130> we 00:07:40.360 --> 00:07:40.370 align:start position:0% imbalanced and ok then maybe we 00:07:40.370 --> 00:07:42.070 align:start position:0% imbalanced and ok then maybe we shouldn't<00:07:40.639> go<00:07:40.909> through<00:07:41.150> that<00:07:41.300> path<00:07:41.569> and<00:07:41.810> we 00:07:42.070 --> 00:07:42.080 align:start position:0% shouldn't go through that path and we 00:07:42.080 --> 00:07:44.350 align:start position:0% shouldn't go through that path and we should<00:07:42.259> maybe<00:07:42.440> not<00:07:42.560> following<00:07:43.370> the<00:07:44.030> shortest 00:07:44.350 --> 00:07:44.360 align:start position:0% should maybe not following the shortest 00:07:44.360 --> 00:07:46.180 align:start position:0% should maybe not following the shortest path<00:07:44.539> but<00:07:44.930> follow<00:07:45.169> a<00:07:45.259> longer<00:07:45.710> path<00:07:45.949> to 00:07:46.180 --> 00:07:46.190 align:start position:0% path but follow a longer path to 00:07:46.190 --> 00:07:49.330 align:start position:0% path but follow a longer path to basically<00:07:46.610> you<00:07:47.599> know<00:07:47.690> try<00:07:48.500> to<00:07:48.530> mean<00:07:48.979> things<00:07:49.219> as 00:07:49.330 --> 00:07:49.340 align:start position:0% basically you know try to mean things as 00:07:49.340 --> 00:07:53.409 align:start position:0% basically you know try to mean things as overall<00:07:50.180> balanced<00:07:50.509> often<00:07:50.930> network<00:07:51.229> and<00:07:52.419> the 00:07:53.409 --> 00:07:53.419 align:start position:0% overall balanced often network and the 00:07:53.419 --> 00:07:54.999 align:start position:0% overall balanced often network and the second<00:07:53.810> kind<00:07:53.960> of<00:07:54.050> a<00:07:54.139> principle<00:07:54.469> is<00:07:54.740> that<00:07:54.889> it 00:07:54.999 --> 00:07:55.009 align:start position:0% second kind of a principle is that it 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decentralized algorithm<00:08:01.400> basically<00:08:01.940> you<00:08:02.150> talk<00:08:02.389> to<00:08:02.509> your 00:08:02.589 --> 00:08:02.599 align:start position:0% algorithm basically you talk to your 00:08:02.599 --> 00:08:04.600 align:start position:0% algorithm basically you talk to your neighbor<00:08:02.840> about<00:08:02.960> like<00:08:03.440> the<00:08:04.039> pressure<00:08:04.310> you're 00:08:04.600 --> 00:08:04.610 align:start position:0% neighbor about like the pressure you're 00:08:04.610 --> 00:08:07.659 align:start position:0% neighbor about like the pressure you're delivering<00:08:04.969> to<00:08:05.419> each<00:08:05.930> of<00:08:06.139> the<00:08:06.289> piers<00:08:06.530> and<00:08:06.740> the 00:08:07.659 --> 00:08:07.669 align:start position:0% delivering to each of the piers and the 00:08:07.669 --> 00:08:08.950 align:start position:0% delivering to each of the piers and the pressure<00:08:07.909> information<00:08:08.210> gets<00:08:08.719> propagated 00:08:08.950 --> 00:08:08.960 align:start position:0% pressure information gets propagated 00:08:08.960 --> 00:08:11.730 align:start position:0% pressure information gets propagated through<00:08:09.800> the<00:08:09.919> network<00:08:10.280> and<00:08:10.490> we<00:08:11.060> can<00:08:11.240> basically 00:08:11.730 --> 00:08:11.740 align:start position:0% through the network and we can basically 00:08:11.740 --> 00:08:14.260 align:start position:0% through the network and we can basically construct<00:08:12.740> a<00:08:12.860> routing<00:08:13.370> algorithm<00:08:13.789> on<00:08:13.940> top<00:08:14.120> of 00:08:14.260 --> 00:08:14.270 align:start position:0% construct a routing algorithm on top of 00:08:14.270 --> 00:08:15.850 align:start position:0% construct a routing algorithm on top of this<00:08:14.449> now<00:08:14.930> the<00:08:14.990> interesting<00:08:15.380> thing<00:08:15.650> about 00:08:15.850 --> 00:08:15.860 align:start position:0% this now the interesting thing about 00:08:15.860 --> 00:08:19.209 align:start position:0% this now the interesting thing about Sailor<00:08:16.520> sea<00:08:17.300> route<00:08:17.539> is<00:08:17.900> that<00:08:18.139> it<00:08:18.349> is<00:08:18.500> the<00:08:18.889> first 00:08:19.209 --> 00:08:19.219 align:start position:0% Sailor sea route is that it is the first 00:08:19.219 --> 00:08:21.100 align:start position:0% Sailor sea route is that it is the first ever<00:08:19.520> prove<00:08:20.000> what<00:08:20.240> a<00:08:20.270> optimal<00:08:20.810> routing 00:08:21.100 --> 00:08:21.110 align:start position:0% ever prove what a optimal routing 00:08:21.110 --> 00:08:24.010 align:start position:0% ever prove what a optimal routing algorithm<00:08:21.500> meaning<00:08:22.400> that<00:08:22.550> you<00:08:22.849> know<00:08:22.969> we<00:08:23.630> we 00:08:24.010 --> 00:08:24.020 align:start position:0% algorithm meaning that you know we we 00:08:24.020 --> 00:08:26.709 align:start position:0% algorithm meaning that you know we we can<00:08:24.169> prove<00:08:24.440> in<00:08:24.620> theory<00:08:25.039> that<00:08:25.490> given<00:08:26.150> any<00:08:26.449> kind 00:08:26.709 --> 00:08:26.719 align:start position:0% can prove in theory that given any kind 00:08:26.719 --> 00:08:28.719 align:start position:0% can prove in theory that given any kind of<00:08:26.870> arrival<00:08:27.380> process<00:08:27.830> of<00:08:28.069> their<00:08:28.340> payment 00:08:28.719 --> 00:08:28.729 align:start position:0% of arrival process of their payment 00:08:28.729 --> 00:08:31.059 align:start position:0% of arrival process of their payment there<00:08:29.300> is<00:08:29.389> no<00:08:29.630> other<00:08:29.870> algorithm<00:08:30.560> that<00:08:30.830> can 00:08:31.059 --> 00:08:31.069 align:start position:0% there is no other algorithm that can 00:08:31.069 --> 00:08:33.490 align:start position:0% there is no other algorithm that can exceed<00:08:31.460> the<00:08:31.699> performance<00:08:32.180> of<00:08:32.510> the<00:08:33.110> route<00:08:33.260> in 00:08:33.490 --> 00:08:33.500 align:start position:0% exceed the performance of the route in 00:08:33.500 --> 00:08:34.750 align:start position:0% exceed the performance of the route in theory<00:08:33.770> but<00:08:34.159> there<00:08:34.339> are<00:08:34.459> a<00:08:34.520> lot<00:08:34.610> of 00:08:34.750 --> 00:08:34.760 align:start position:0% theory but there are a lot of 00:08:34.760 --> 00:08:36.310 align:start position:0% theory but there are a lot of implementation 00:08:36.310 --> 00:08:36.320 align:start position:0% implementation 00:08:36.320 --> 00:08:38.079 align:start position:0% implementation you<00:08:36.649> know<00:08:36.770> challenges<00:08:37.370> and<00:08:37.550> the<00:08:37.669> things<00:08:37.909> we 00:08:38.079 --> 00:08:38.089 align:start position:0% you know challenges and the things we 00:08:38.089 --> 00:08:40.120 align:start position:0% you know challenges and the things we need<00:08:38.240> to<00:08:38.270> do<00:08:38.539> to<00:08:38.959> carry<00:08:39.289> this<00:08:39.440> forward<00:08:39.919> in 00:08:40.120 --> 00:08:40.130 align:start position:0% need to do to carry this forward in 00:08:40.130 --> 00:08:43.389 align:start position:0% need to do to carry this forward in production<00:08:40.789> and<00:08:41.829> there<00:08:42.829> are<00:08:42.950> several<00:08:43.190> layers 00:08:43.389 --> 00:08:43.399 align:start position:0% production and there are several layers 00:08:43.399 --> 00:08:45.790 align:start position:0% production and there are several layers in<00:08:43.729> the<00:08:43.909> serial<00:08:44.209> as<00:08:44.360> well<00:08:44.600> but<00:08:44.810> that's<00:08:45.649> the 00:08:45.790 --> 00:08:45.800 align:start position:0% in the serial as well but that's the 00:08:45.800 --> 00:08:48.280 align:start position:0% in the serial as well but that's the most<00:08:45.950> important<00:08:46.730> part<00:08:47.000> in<00:08:47.390> the<00:08:47.510> simulation<00:08:48.050> we 00:08:48.280 --> 00:08:48.290 align:start position:0% most important part in the simulation we 00:08:48.290 --> 00:08:50.710 align:start position:0% most important part in the simulation we have<00:08:48.470> observed<00:08:48.940> zeros<00:08:49.940> can<00:08:50.120> achieve<00:08:50.390> the<00:08:50.540> more 00:08:50.710 --> 00:08:50.720 align:start position:0% have observed zeros can achieve the more 00:08:50.720 --> 00:08:52.030 align:start position:0% have observed zeros can achieve the more than<00:08:50.900> twenty<00:08:51.199> times<00:08:51.230> the<00:08:51.650> higher<00:08:51.829> performance 00:08:52.030 --> 00:08:52.040 align:start position:0% than twenty times the higher performance 00:08:52.040 --> 00:08:53.920 align:start position:0% than twenty times the higher performance comparing<00:08:52.790> to<00:08:52.880> naive<00:08:53.209> rotting<00:08:53.570> augers 00:08:53.920 --> 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align:start position:0% frameworks for the apps it is basically the<00:09:03.260> protocol<00:09:03.710> layer 00:09:04.329 --> 00:09:04.339 align:start position:0% the protocol layer 00:09:04.339 --> 00:09:07.000 align:start position:0% the protocol layer you<00:09:04.790> know<00:09:04.910> Liam<00:09:05.240> also<00:09:05.540> talked<00:09:05.810> about<00:09:06.020> and<00:09:06.350> it 00:09:07.000 --> 00:09:07.010 align:start position:0% you know Liam also talked about and it 00:09:07.010 --> 00:09:09.010 align:start position:0% you know Liam also talked about and it is<00:09:07.040> handling<00:09:07.610> all<00:09:07.820> the<00:09:07.970> complexity<00:09:08.570> for<00:09:08.899> the 00:09:09.010 --> 00:09:09.020 align:start position:0% is handling all the complexity for the 00:09:09.020 --> 00:09:12.300 align:start position:0% is handling all the complexity for the developers<00:09:09.529> to<00:09:10.130> hide<00:09:10.459> away<00:09:11.140> conditional 00:09:12.300 --> 00:09:12.310 align:start position:0% developers to hide away conditional 00:09:12.310 --> 00:09:15.340 align:start position:0% developers to hide away conditional payments<00:09:13.310> Arab<00:09:13.580> state<00:09:14.510> channel<00:09:14.810> setup<00:09:15.020> and 00:09:15.340 --> 00:09:15.350 align:start position:0% payments Arab state channel setup and 00:09:15.350 --> 00:09:17.230 align:start position:0% payments Arab state channel setup and the<00:09:15.500> resolution<00:09:16.070> protocol<00:09:16.490> is<00:09:16.610> among<00:09:17.060> them 00:09:17.230 --> 00:09:17.240 align:start position:0% the resolution protocol is among them 00:09:17.240 --> 00:09:19.810 align:start position:0% the resolution protocol is among them and<00:09:17.540> it<00:09:18.140> is<00:09:18.260> also<00:09:18.589> bridging<00:09:19.160> the<00:09:19.279> own<00:09:19.430> Qing<00:09:19.700> and 00:09:19.810 --> 00:09:19.820 align:start position:0% and it is also bridging the own Qing and 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is that you<00:09:28.160> write<00:09:28.520> a<00:09:28.550> smart<00:09:28.910> contract<00:09:29.060> first<00:09:29.510> and 00:09:29.740 --> 00:09:29.750 align:start position:0% you write a smart contract first and 00:09:29.750 --> 00:09:32.230 align:start position:0% you write a smart contract first and which<00:09:30.560> which<00:09:30.770> support<00:09:31.310> all<00:09:31.520> these<00:09:31.700> interfaces 00:09:32.230 --> 00:09:32.240 align:start position:0% which which support all these interfaces 00:09:32.240 --> 00:09:34.510 align:start position:0% which which support all these interfaces also<00:09:32.600> of<00:09:32.959> Jing<00:09:33.200> applications<00:09:33.800> and<00:09:33.950> then<00:09:34.399> you 00:09:34.510 --> 00:09:34.520 align:start position:0% also of Jing applications and then you 00:09:34.520 --> 00:09:37.090 align:start position:0% also of Jing applications and then you write<00:09:34.790> a<00:09:34.970> native<00:09:35.330> app<00:09:35.510> which<00:09:36.110> also<00:09:36.470> contains 00:09:37.090 --> 00:09:37.100 align:start position:0% write a native app which also contains 00:09:37.100 --> 00:09:40.150 align:start position:0% write a native app which also contains similar<00:09:37.550> logics<00:09:38.000> now<00:09:38.510> we<00:09:38.930> are<00:09:39.470> aiming<00:09:39.890> to 00:09:40.150 --> 00:09:40.160 align:start position:0% similar logics now we are aiming to 00:09:40.160 --> 00:09:42.340 align:start position:0% similar logics now we are aiming to achieve<00:09:40.250> is<00:09:40.700> that<00:09:40.760> we<00:09:41.149> hope<00:09:41.420> to<00:09:41.450> write<00:09:41.810> one<00:09:42.110> set 00:09:42.340 --> 00:09:42.350 align:start position:0% achieve is that we hope to write one set 00:09:42.350 --> 00:09:44.530 align:start position:0% achieve is that we hope to write one set of<00:09:42.470> code<00:09:42.709> right<00:09:43.100> so<00:09:43.220> you<00:09:43.339> can<00:09:43.610> just<00:09:43.730> write<00:09:44.209> one 00:09:44.530 --> 00:09:44.540 align:start position:0% of code right so you can just write one 00:09:44.540 --> 00:09:47.440 align:start position:0% of code right so you can just write one set<00:09:44.750> of<00:09:44.870> a<00:09:44.990> vm<00:09:45.230> code<00:09:45.560> like<00:09:46.250> EVM<00:09:46.670> code<00:09:47.000> and<00:09:47.240> let 00:09:47.440 --> 00:09:47.450 align:start position:0% set of a vm code like EVM code and let 00:09:47.450 --> 00:09:49.420 align:start position:0% set of a vm code like EVM code and let the<00:09:47.570> EVM<00:09:47.839> also<00:09:48.200> running<00:09:48.410> on<00:09:48.589> mobile<00:09:48.800> devices 00:09:49.420 --> 00:09:49.430 align:start position:0% the EVM also running on mobile devices 00:09:49.430 --> 00:09:51.850 align:start position:0% the EVM also running on mobile devices and<00:09:49.580> web<00:09:49.790> applications<00:09:50.510> to<00:09:50.990> act<00:09:51.200> as<00:09:51.470> a<00:09:51.500> real 00:09:51.850 --> 00:09:51.860 align:start position:0% and web applications to act as a real 00:09:51.860 --> 00:09:53.980 align:start position:0% and web applications to act as a real back-end<00:09:52.399> for<00:09:52.520> these<00:09:52.850> applications<00:09:53.420> and 00:09:53.980 --> 00:09:53.990 align:start position:0% back-end for these applications and 00:09:53.990 --> 00:09:55.780 align:start position:0% back-end for these applications and mobile<00:09:54.170> devices<00:09:54.680> so<00:09:54.800> there's<00:09:55.010> no<00:09:55.220> need<00:09:55.730> to 00:09:55.780 --> 00:09:55.790 align:start position:0% mobile devices so there's no need to 00:09:55.790 --> 00:09:57.430 align:start position:0% mobile devices so there's no need to write<00:09:56.180> tools<00:09:56.450> out<00:09:56.570> of<00:09:56.600> application<00:09:57.200> to<00:09:57.230> create 00:09:57.430 --> 00:09:57.440 align:start position:0% write tools out of application to create 00:09:57.440 --> 00:10:01.840 align:start position:0% write tools out of application to create a<00:09:57.589> box<00:09:57.860> at<00:09:58.220> the<00:09:58.339> same<00:09:58.520> time<00:09:58.750> so<00:10:00.459> it<00:10:01.459> is<00:10:01.520> also 00:10:01.840 --> 00:10:01.850 align:start position:0% a box at the same time so it is also 00:10:01.850 --> 00:10:04.120 align:start position:0% a box at the same time so it is also easy<00:10:02.180> to<00:10:02.300> use<00:10:02.420> user<00:10:02.990> runtime<00:10:03.470> which<00:10:03.680> is<00:10:03.860> a<00:10:03.890> see 00:10:04.120 --> 00:10:04.130 align:start position:0% easy to use user runtime which is a see 00:10:04.130 --> 00:10:05.890 align:start position:0% easy to use user runtime which is a see what<00:10:04.279> it<00:10:04.400> I<00:10:04.490> just<00:10:04.550> talked<00:10:04.880> about<00:10:04.910> so<00:10:05.600> this<00:10:05.779> is 00:10:05.890 --> 00:10:05.900 align:start position:0% what it I just talked about so this is 00:10:05.900 --> 00:10:07.600 align:start position:0% what it I just talked about so this is like<00:10:06.020> oh<00:10:06.050> we<00:10:06.290> talked<00:10:06.500> about<00:10:06.650> how<00:10:07.310> to<00:10:07.370> support 00:10:07.600 --> 00:10:07.610 align:start position:0% like oh we talked about how to support 00:10:07.610 --> 00:10:10.449 align:start position:0% like oh we talked about how to support generalized<00:10:08.230> conditional<00:10:09.230> payment<00:10:09.560> and<00:10:09.770> high 00:10:10.449 --> 00:10:10.459 align:start position:0% generalized conditional payment and high 00:10:10.459 --> 00:10:12.670 align:start position:0% generalized conditional payment and high performing<00:10:11.270> and<00:10:11.420> also<00:10:11.600> the<00:10:11.930> operating<00:10:12.230> system 00:10:12.670 --> 00:10:12.680 align:start position:0% performing and also the operating system 00:10:12.680 --> 00:10:15.579 align:start position:0% performing and also the operating system side<00:10:12.920> of<00:10:13.160> center<00:10:13.580> network<00:10:13.910> now<00:10:14.750> we'll<00:10:15.140> move<00:10:15.410> on 00:10:15.579 --> 00:10:15.589 align:start position:0% side of center network now we'll move on 00:10:15.589 --> 00:10:17.650 align:start position:0% side of center network now we'll move on to<00:10:16.070> the<00:10:16.279> see<00:10:16.490> economic<00:10:16.760> which<00:10:17.150> is<00:10:17.300> a<00:10:17.330> crypto 00:10:17.650 --> 00:10:17.660 align:start position:0% to the see economic which is a crypto 00:10:17.660 --> 00:10:21.220 align:start position:0% to the see economic which is a crypto economic<00:10:18.050> construct<00:10:18.560> off<00:10:19.279> seller<00:10:19.640> and<00:10:20.230> you 00:10:21.220 --> 00:10:21.230 align:start position:0% economic construct off seller and you 00:10:21.230 --> 00:10:24.160 align:start position:0% economic construct off seller and you know<00:10:21.470> of<00:10:22.459> change<00:10:22.820> scaling<00:10:23.209> or<00:10:23.390> say<00:10:23.810> channel 00:10:24.160 --> 00:10:24.170 align:start position:0% know of change scaling or say channel 00:10:24.170 --> 00:10:26.350 align:start position:0% know of change scaling or say channel achieves<00:10:24.950> a<00:10:25.250> huge<00:10:25.610> amount<00:10:25.850> of<00:10:25.910> scalability 00:10:26.350 --> 00:10:26.360 align:start position:0% achieves a huge amount of scalability 00:10:26.360 --> 00:10:28.269 align:start position:0% achieves a huge amount of scalability but<00:10:26.779> it<00:10:26.990> comes<00:10:27.200> with<00:10:27.320> trade-offs<00:10:27.890> what<00:10:28.160> are 00:10:28.269 --> 00:10:28.279 align:start position:0% but it comes with trade-offs what are 00:10:28.279 --> 00:10:29.650 align:start position:0% but it comes with trade-offs what are these<00:10:28.430> trade-offs<00:10:28.760> the<00:10:28.910> first<00:10:29.150> day<00:10:29.270> thing<00:10:29.480> is 00:10:29.650 --> 00:10:29.660 align:start position:0% these trade-offs the first day thing is 00:10:29.660 --> 00:10:31.090 align:start position:0% these trade-offs the first day thing is a<00:10:29.690> state<00:10:30.110> of<00:10:30.140> variability<00:10:30.410> challenge<00:10:30.890> which 00:10:31.090 --> 00:10:31.100 align:start position:0% a state of variability challenge which 00:10:31.100 --> 00:10:32.500 align:start position:0% a state of variability challenge which is<00:10:31.130> how<00:10:31.370> to<00:10:31.430> make<00:10:31.670> opting<00:10:32.120> state<00:10:32.300> always 00:10:32.500 --> 00:10:32.510 align:start position:0% is how to make opting state always 00:10:32.510 --> 00:10:34.449 align:start position:0% is how to make opting state always available<00:10:32.839> for<00:10:33.200> launching<00:10:33.830> this<00:10:33.950> pure<00:10:34.190> right 00:10:34.449 --> 00:10:34.459 align:start position:0% available for launching this pure right 00:10:34.459 --> 00:10:36.280 align:start position:0% available for launching this pure right so<00:10:34.580> this<00:10:35.209> is<00:10:35.270> like<00:10:35.390> basically<00:10:35.810> Chinese<00:10:36.200> so 00:10:36.280 --> 00:10:36.290 align:start position:0% so this is like basically Chinese so 00:10:36.290 --> 00:10:38.290 align:start position:0% so this is like basically Chinese so Alice<00:10:36.560> and<00:10:36.709> Bob<00:10:36.829> are<00:10:37.070> transacting<00:10:38.000> each<00:10:38.150> other 00:10:38.290 --> 00:10:38.300 align:start position:0% Alice and Bob are transacting each other 00:10:38.300 --> 00:10:40.569 align:start position:0% Alice and Bob are transacting each other money<00:10:38.570> and<00:10:38.810> their<00:10:39.290> newest<00:10:39.709> alien<00:10:40.160> sequence<00:10:40.490> - 00:10:40.569 --> 00:10:40.579 align:start position:0% money and their newest alien sequence - 00:10:40.579 --> 00:10:43.810 align:start position:0% money and their newest alien sequence - with<00:10:40.700> sequence<00:10:41.360> 49<00:10:41.990> and<00:10:42.279> Bob<00:10:43.279> goes<00:10:43.459> offline 00:10:43.810 --> 00:10:43.820 align:start position:0% with sequence 49 and Bob goes offline 00:10:43.820 --> 00:10:45.790 align:start position:0% with sequence 49 and Bob goes offline and<00:10:44.209> what's<00:10:44.779> gonna<00:10:44.900> happen<00:10:45.260> is<00:10:45.350> that<00:10:45.500> Alice 00:10:45.790 --> 00:10:45.800 align:start position:0% and what's gonna happen is that Alice 00:10:45.800 --> 00:10:47.350 align:start position:0% and what's gonna happen is that Alice can<00:10:46.010> go<00:10:46.190> to<00:10:46.250> the<00:10:46.459> channel<00:10:46.730> be<00:10:46.850> malicious<00:10:47.089> and 00:10:47.350 --> 00:10:47.360 align:start position:0% can go to the channel be malicious and 00:10:47.360 --> 00:10:48.730 align:start position:0% can go to the channel be malicious and Sadoway<00:10:47.750> oder<00:10:47.959> state<00:10:48.260> which<00:10:48.440> is<00:10:48.589> more 00:10:48.730 --> 00:10:48.740 align:start position:0% Sadoway oder state which is more 00:10:48.740 --> 00:10:50.740 align:start position:0% Sadoway oder state which is more favorable<00:10:48.920> to<00:10:49.370> alice<00:10:49.640> centralized<00:10:50.480> monitor 00:10:50.740 --> 00:10:50.750 align:start position:0% favorable to alice centralized monitor 00:10:50.750 --> 00:10:52.000 align:start position:0% favorable to alice centralized monitor is<00:10:50.870> that<00:10:51.050> that's<00:10:51.290> definitely<00:10:51.410> a<00:10:51.649> bad<00:10:51.800> solution 00:10:52.000 --> 00:10:52.010 align:start position:0% is that that's definitely a bad solution 00:10:52.010 --> 00:10:53.889 align:start position:0% is that that's definitely a bad solution right<00:10:52.459> but<00:10:52.730> what<00:10:53.240> about<00:10:53.270> transferring 00:10:53.889 --> 00:10:53.899 align:start position:0% right but what about transferring 00:10:53.899 --> 00:10:55.660 align:start position:0% right but what about transferring monitoring<00:10:54.230> well<00:10:54.620> transferring<00:10:55.250> more<00:10:55.399> you 00:10:55.660 --> 00:10:55.670 align:start position:0% monitoring well transferring more you 00:10:55.670 --> 00:10:57.880 align:start position:0% monitoring well transferring more you can<00:10:55.850> do<00:10:56.060> right<00:10:56.510> basically<00:10:56.930> by<00:10:57.140> letting<00:10:57.709> Bob 00:10:57.880 --> 00:10:57.890 align:start position:0% can do right basically by letting Bob 00:10:57.890 --> 00:11:00.069 align:start position:0% can do right basically by letting Bob submit<00:10:58.399> the<00:10:58.670> current<00:10:58.940> state<00:10:59.120> to<00:10:59.390> a<00:10:59.420> trusted 00:11:00.069 --> 00:11:00.079 align:start position:0% submit the current state to a trusted 00:11:00.079 --> 00:11:01.720 align:start position:0% submit the current state to a trusted frame<00:11:00.320> monitoring<00:11:00.770> services<00:11:01.160> and<00:11:01.490> the 00:11:01.720 --> 00:11:01.730 align:start position:0% frame monitoring services and the 00:11:01.730 --> 00:11:03.400 align:start position:0% frame monitoring services and the transferee<00:11:02.270> monster<00:11:02.600> research<00:11:02.810> is<00:11:03.110> trust 00:11:03.400 --> 00:11:03.410 align:start position:0% transferee monster research is trust 00:11:03.410 --> 00:11:04.870 align:start position:0% transferee monster research is trust fray<00:11:03.709> because<00:11:03.860> the<00:11:04.160> transferee<00:11:04.550> monitor 00:11:04.870 --> 00:11:04.880 align:start position:0% fray because the transferee monitor 00:11:04.880 --> 00:11:06.400 align:start position:0% fray because the transferee monitor serve<00:11:05.029> is<00:11:05.120> they<00:11:05.240> will<00:11:05.600> also<00:11:05.779> deposit<00:11:06.320> a 00:11:06.400 --> 00:11:06.410 align:start position:0% serve is they will also deposit a 00:11:06.410 --> 00:11:07.670 align:start position:0% serve is they will also deposit a honestly<00:11:06.860> bounded<00:11:07.190> choosers 00:11:07.670 --> 00:11:07.680 align:start position:0% honestly bounded choosers 00:11:07.680 --> 00:11:11.570 align:start position:0% honestly bounded choosers our<00:11:07.740> contracts<00:11:08.220> and<00:11:08.899> you<00:11:09.899> know<00:11:10.550> when<00:11:11.550> I 00:11:11.570 --> 00:11:11.580 align:start position:0% our contracts and you know when I 00:11:11.580 --> 00:11:13.670 align:start position:0% our contracts and you know when I submitted<00:11:12.180> just<00:11:12.779> malicious<00:11:13.170> in<00:11:13.320> terms<00:11:13.529> of<00:11:13.620> the 00:11:13.670 --> 00:11:13.680 align:start position:0% submitted just malicious in terms of the 00:11:13.680 --> 00:11:15.200 align:start position:0% submitted just malicious in terms of the trust<00:11:13.800> free<00:11:14.010> monitor<00:11:14.279> services<00:11:14.730> will<00:11:14.880> submit 00:11:15.200 --> 00:11:15.210 align:start position:0% trust free monitor services will submit 00:11:15.210 --> 00:11:18.500 align:start position:0% trust free monitor services will submit the<00:11:15.420> you<00:11:16.290> know<00:11:16.410> most<00:11:17.160> current<00:11:17.520> state<00:11:17.700> buddy 00:11:18.500 --> 00:11:18.510 align:start position:0% the you know most current state buddy 00:11:18.510 --> 00:11:20.030 align:start position:0% the you know most current state buddy for<00:11:18.750> the<00:11:18.810> trusted<00:11:19.290> free<00:11:19.440> monitoring<00:11:19.740> services 00:11:20.030 --> 00:11:20.040 align:start position:0% for the trusted free monitoring services 00:11:20.040 --> 00:11:22.070 align:start position:0% for the trusted free monitoring services in<00:11:20.190> Mauritius<00:11:20.640> the<00:11:20.940> user<00:11:21.089> can<00:11:21.330> go<00:11:21.450> online 00:11:22.070 --> 00:11:22.080 align:start position:0% in Mauritius the user can go online 00:11:22.080 --> 00:11:24.110 align:start position:0% in Mauritius the user can go online afterwards<00:11:22.950> and<00:11:23.100> basically<00:11:23.550> claimed<00:11:23.910> the 00:11:24.110 --> 00:11:24.120 align:start position:0% afterwards and basically claimed the 00:11:24.120 --> 00:11:27.320 align:start position:0% afterwards and basically claimed the honesty<00:11:24.480> phone<00:11:24.690> but<00:11:25.290> the<00:11:25.589> problem<00:11:26.100> about<00:11:26.370> this 00:11:27.320 --> 00:11:27.330 align:start position:0% honesty phone but the problem about this 00:11:27.330 --> 00:11:29.420 align:start position:0% honesty phone but the problem about this is<00:11:27.630> that<00:11:27.959> it<00:11:28.170> doubles<00:11:28.589> overall<00:11:29.070> liquidity 00:11:29.420 --> 00:11:29.430 align:start position:0% is that it doubles overall liquidity 00:11:29.430 --> 00:11:30.860 align:start position:0% is that it doubles overall liquidity lockout<00:11:29.790> for<00:11:29.940> this<00:11:30.089> interstate<00:11:30.570> channel 00:11:30.860 --> 00:11:30.870 align:start position:0% lockout for this interstate channel 00:11:30.870 --> 00:11:32.930 align:start position:0% lockout for this interstate channel network<00:11:31.170> because<00:11:31.649> now<00:11:31.920> we<00:11:31.980> not<00:11:32.459> only<00:11:32.520> need<00:11:32.880> to 00:11:32.930 --> 00:11:32.940 align:start position:0% network because now we not only need to 00:11:32.940 --> 00:11:34.400 align:start position:0% network because now we not only need to ever<00:11:33.209> want<00:11:33.420> to<00:11:33.480> lock<00:11:33.690> up<00:11:33.839> money<00:11:34.050> on<00:11:34.260> those 00:11:34.400 --> 00:11:34.410 align:start position:0% ever want to lock up money on those 00:11:34.410 --> 00:11:36.170 align:start position:0% ever want to lock up money on those state<00:11:34.649> channel<00:11:34.890> but<00:11:35.160> also<00:11:35.399> need<00:11:35.760> them<00:11:35.910> these 00:11:36.170 --> 00:11:36.180 align:start position:0% state channel but also need them these 00:11:36.180 --> 00:11:38.030 align:start position:0% state channel but also need them these monitoring<00:11:36.660> services<00:11:37.020> to<00:11:37.170> lock<00:11:37.500> up<00:11:37.680> money<00:11:37.890> on 00:11:38.030 --> 00:11:38.040 align:start position:0% monitoring services to lock up money on 00:11:38.040 --> 00:11:39.769 align:start position:0% monitoring services to lock up money on the<00:11:38.130> channel<00:11:38.370> as<00:11:38.430> well<00:11:38.580> it<00:11:39.300> creates<00:11:39.630> a 00:11:39.769 --> 00:11:39.779 align:start position:0% the channel as well it creates a 00:11:39.779 --> 00:11:41.120 align:start position:0% the channel as well it creates a heterogeneous<00:11:40.200> interface<00:11:40.770> for<00:11:40.950> state 00:11:41.120 --> 00:11:41.130 align:start position:0% heterogeneous interface for state 00:11:41.130 --> 00:11:43.100 align:start position:0% heterogeneous interface for state guarding<00:11:41.490> because<00:11:41.790> maybe<00:11:42.390> sometimes<00:11:42.870> you're 00:11:43.100 --> 00:11:43.110 align:start position:0% guarding because maybe sometimes you're 00:11:43.110 --> 00:11:45.079 align:start position:0% guarding because maybe sometimes you're guarding<00:11:43.500> this<00:11:43.680> kind<00:11:43.890> of<00:11:43.950> token<00:11:44.339> and<00:11:44.610> other 00:11:45.079 --> 00:11:45.089 align:start position:0% guarding this kind of token and other 00:11:45.089 --> 00:11:47.180 align:start position:0% guarding this kind of token and other kind<00:11:45.360> of<00:11:45.420> tokens<00:11:45.839> or<00:11:45.990> some<00:11:46.740> other<00:11:46.920> kind<00:11:47.130> of 00:11:47.180 --> 00:11:47.190 align:start position:0% kind of tokens or some other kind of 00:11:47.190 --> 00:11:48.530 align:start position:0% kind of tokens or some other kind of intermediary<00:11:47.700> state<00:11:47.970> that<00:11:48.149> is<00:11:48.240> hard<00:11:48.480> to 00:11:48.530 --> 00:11:48.540 align:start position:0% intermediary state that is hard to 00:11:48.540 --> 00:11:50.210 align:start position:0% intermediary state that is hard to reason<00:11:48.779> about<00:11:48.930> what<00:11:49.350> is<00:11:49.500> that<00:11:49.649> the<00:11:49.770> actual 00:11:50.210 --> 00:11:50.220 align:start position:0% reason about what is that the actual 00:11:50.220 --> 00:11:53.870 align:start position:0% reason about what is that the actual value<00:11:50.850> underlaying<00:11:51.330> does<00:11:51.600> take<00:11:51.839> and<00:11:52.670> it<00:11:53.670> is 00:11:53.870 --> 00:11:53.880 align:start position:0% value underlaying does take and it is 00:11:53.880 --> 00:11:55.850 align:start position:0% value underlaying does take and it is very<00:11:54.060> obscure<00:11:54.630> and<00:11:54.660> expensive<00:11:55.260> pricing<00:11:55.620> model 00:11:55.850 --> 00:11:55.860 align:start position:0% very obscure and expensive pricing model 00:11:55.860 --> 00:11:57.470 align:start position:0% very obscure and expensive pricing model because<00:11:56.070> it<00:11:56.190> involves<00:11:56.670> locking<00:11:57.360> up<00:11:57.450> your 00:11:57.470 --> 00:11:57.480 align:start position:0% because it involves locking up your 00:11:57.480 --> 00:11:59.660 align:start position:0% because it involves locking up your liquidity<00:11:58.050> and<00:11:58.200> also<00:11:58.620> we<00:11:59.070> need<00:11:59.220> to<00:11:59.310> kind<00:11:59.430> of<00:11:59.520> it 00:11:59.660 --> 00:11:59.670 align:start position:0% liquidity and also we need to kind of it 00:11:59.670 --> 00:12:02.930 align:start position:0% liquidity and also we need to kind of it to<00:12:00.300> peer<00:12:00.510> wise<00:12:00.690> negotiating<00:12:01.410> with<00:12:01.620> the<00:12:02.610> the 00:12:02.930 --> 00:12:02.940 align:start position:0% to peer wise negotiating with the the 00:12:02.940 --> 00:12:04.550 align:start position:0% to peer wise negotiating with the the monitoring<00:12:03.360> service<00:12:03.630> it's<00:12:03.750> about<00:12:03.930> the<00:12:04.350> price 00:12:04.550 --> 00:12:04.560 align:start position:0% monitoring service it's about the price 00:12:04.560 --> 00:12:07.610 align:start position:0% monitoring service it's about the price and<00:12:04.830> it<00:12:05.550> increased<00:12:06.209> incur<00:12:06.899> some<00:12:07.110> complex 00:12:07.610 --> 00:12:07.620 align:start position:0% and it increased incur some complex 00:12:07.620 --> 00:12:10.370 align:start position:0% and it increased incur some complex engine<00:12:07.950> offering<00:12:08.360> interaction<00:12:09.360> and<00:12:09.540> gave<00:12:10.200> you 00:12:10.370 --> 00:12:10.380 align:start position:0% engine offering interaction and gave you 00:12:10.380 --> 00:12:11.900 align:start position:0% engine offering interaction and gave you finally<00:12:10.830> originally<00:12:11.310> inference<00:12:11.640> model 00:12:11.900 --> 00:12:11.910 align:start position:0% finally originally inference model 00:12:11.910 --> 00:12:13.820 align:start position:0% finally originally inference model you're<00:12:12.060> basically<00:12:12.330> insured<00:12:12.750> with<00:12:13.170> X<00:12:13.410> percent 00:12:13.820 --> 00:12:13.830 align:start position:0% you're basically insured with X percent 00:12:13.830 --> 00:12:16.370 align:start position:0% you're basically insured with X percent for<00:12:14.459> Y<00:12:14.640> price<00:12:14.910> right<00:12:15.540> so<00:12:15.750> how<00:12:16.020> do<00:12:16.080> we<00:12:16.140> solve 00:12:16.370 --> 00:12:16.380 align:start position:0% for Y price right so how do we solve 00:12:16.380 --> 00:12:18.769 align:start position:0% for Y price right so how do we solve this<00:12:16.560> we<00:12:16.850> solve<00:12:17.850> this<00:12:17.970> by<00:12:18.209> introducing 00:12:18.769 --> 00:12:18.779 align:start position:0% this we solve this by introducing 00:12:18.779 --> 00:12:20.870 align:start position:0% this we solve this by introducing something<00:12:19.320> called<00:12:19.529> sellers<00:12:19.920> state<00:12:20.430> guardian 00:12:20.870 --> 00:12:20.880 align:start position:0% something called sellers state guardian 00:12:20.880 --> 00:12:23.030 align:start position:0% something called sellers state guardian network<00:12:21.209> a<00:12:21.839> state<00:12:22.290> guardian<00:12:22.620> network<00:12:22.860> is 00:12:23.030 --> 00:12:23.040 align:start position:0% network a state guardian network is 00:12:23.040 --> 00:12:25.760 align:start position:0% network a state guardian network is special<00:12:23.520> kind<00:12:23.700> of<00:12:23.760> sidechain<00:12:24.240> you<00:12:24.930> become<00:12:25.589> a 00:12:25.760 --> 00:12:25.770 align:start position:0% special kind of sidechain you become a 00:12:25.770 --> 00:12:28.010 align:start position:0% special kind of sidechain you become a guardian<00:12:26.220> by<00:12:26.520> staking<00:12:27.120> your<00:12:27.270> seller<00:12:27.570> token 00:12:28.010 --> 00:12:28.020 align:start position:0% guardian by staking your seller token 00:12:28.020 --> 00:12:31.550 align:start position:0% guardian by staking your seller token into<00:12:28.230> the<00:12:28.529> sidechain<00:12:28.770> now<00:12:30.050> when<00:12:31.050> you're<00:12:31.170> when 00:12:31.550 --> 00:12:31.560 align:start position:0% into the sidechain now when you're when 00:12:31.560 --> 00:12:33.590 align:start position:0% into the sidechain now when you're when user<00:12:31.740> is<00:12:31.950> going<00:12:32.070> offline<00:12:32.490> or<00:12:32.850> a<00:12:32.880> device<00:12:33.390> is 00:12:33.590 --> 00:12:33.600 align:start position:0% user is going offline or a device is 00:12:33.600 --> 00:12:36.199 align:start position:0% user is going offline or a device is checking<00:12:33.930> in<00:12:34.260> his<00:12:34.500> state<00:12:34.770> what<00:12:35.610> it<00:12:35.730> will<00:12:36.000> do<00:12:36.089> is 00:12:36.199 --> 00:12:36.209 align:start position:0% checking in his state what it will do is 00:12:36.209 --> 00:12:37.579 align:start position:0% checking in his state what it will do is that<00:12:36.240> it<00:12:36.330> will<00:12:36.420> stop<00:12:36.660> me<00:12:36.779> a<00:12:36.810> state<00:12:37.050> point<00:12:37.290> and 00:12:37.579 --> 00:12:37.589 align:start position:0% that it will stop me a state point and 00:12:37.589 --> 00:12:39.320 align:start position:0% that it will stop me a state point and the<00:12:37.680> state<00:12:37.890> proof<00:12:38.100> can<00:12:38.339> be<00:12:38.370> anything<00:12:38.700> it<00:12:39.029> can 00:12:39.320 --> 00:12:39.330 align:start position:0% the state proof can be anything it can 00:12:39.330 --> 00:12:40.670 align:start position:0% the state proof can be anything it can be<00:12:39.390> a<00:12:39.630> game<00:12:39.839> state<00:12:40.110> it<00:12:40.230> can<00:12:40.320> be<00:12:40.410> a<00:12:40.440> signed 00:12:40.670 --> 00:12:40.680 align:start position:0% be a game state it can be a signed 00:12:40.680 --> 00:12:41.900 align:start position:0% be a game state it can be a signed agreement<00:12:40.800> that<00:12:41.220> can<00:12:41.339> be<00:12:41.430> auction<00:12:41.790> and 00:12:41.900 --> 00:12:41.910 align:start position:0% agreement that can be auction and 00:12:41.910 --> 00:12:45.199 align:start position:0% agreement that can be auction and acknowledgement<00:12:42.720> all<00:12:42.870> that<00:12:42.990> stuff<00:12:43.170> and<00:12:44.209> the 00:12:45.199 --> 00:12:45.209 align:start position:0% acknowledgement all that stuff and the 00:12:45.209 --> 00:12:46.730 align:start position:0% acknowledgement all that stuff and the first<00:12:45.360> question<00:12:45.839> to<00:12:45.959> figure<00:12:46.200> out<00:12:46.290> is<00:12:46.410> of<00:12:46.589> who 00:12:46.730 --> 00:12:46.740 align:start position:0% first question to figure out is of who 00:12:46.740 --> 00:12:50.210 align:start position:0% first question to figure out is of who is<00:12:46.860> guarding<00:12:47.130> this<00:12:47.430> state<00:12:47.640> that<00:12:47.880> so<00:12:48.980> now<00:12:49.980> a 00:12:50.210 --> 00:12:50.220 align:start position:0% is guarding this state that so now a 00:12:50.220 --> 00:12:51.800 align:start position:0% is guarding this state that so now a randomly<00:12:50.670> selected<00:12:51.180> a<00:12:51.270> set<00:12:51.420> of<00:12:51.570> state 00:12:51.800 --> 00:12:51.810 align:start position:0% randomly selected a set of state 00:12:51.810 --> 00:12:53.180 align:start position:0% randomly selected a set of state guardian<00:12:52.170> will<00:12:52.260> be<00:12:52.350> guarding<00:12:52.680> the<00:12:52.709> state<00:12:53.010> and 00:12:53.180 --> 00:12:53.190 align:start position:0% guardian will be guarding the state and 00:12:53.190 --> 00:12:55.100 align:start position:0% guardian will be guarding the state and the<00:12:53.700> amount<00:12:53.970> of<00:12:54.089> state<00:12:54.360> guardian<00:12:54.750> or<00:12:54.839> the 00:12:55.100 --> 00:12:55.110 align:start position:0% the amount of state guardian or the 00:12:55.110 --> 00:12:57.050 align:start position:0% the amount of state guardian or the amount<00:12:55.320> of<00:12:55.410> Sara<00:12:55.650> talking<00:12:56.010> at<00:12:56.190> stake<00:12:56.490> for<00:12:56.520> this 00:12:57.050 --> 00:12:57.060 align:start position:0% amount of Sara talking at stake for this 00:12:57.060 --> 00:13:00.199 align:start position:0% amount of Sara talking at stake for this state<00:12:57.450> is<00:12:58.050> basically<00:12:58.709> determined<00:12:59.220> by<00:12:59.250> the 00:13:00.199 --> 00:13:00.209 align:start position:0% state is basically determined by the 00:13:00.209 --> 00:13:02.210 align:start position:0% state is basically determined by the income<00:13:00.720> flow<00:13:00.930> generated<00:13:01.440> by<00:13:01.620> this<00:13:01.680> particular 00:13:02.210 --> 00:13:02.220 align:start position:0% income flow generated by this particular 00:13:02.220 --> 00:13:03.980 align:start position:0% income flow generated by this particular user<00:13:02.400> comparing<00:13:03.029> to<00:13:03.120> the<00:13:03.480> income<00:13:03.810> flow 00:13:03.980 --> 00:13:03.990 align:start position:0% user comparing to the income flow 00:13:03.990 --> 00:13:05.810 align:start position:0% user comparing to the income flow generated<00:13:04.440> by<00:13:04.529> this<00:13:04.589> internetwork<00:13:05.310> so<00:13:05.700> in 00:13:05.810 --> 00:13:05.820 align:start position:0% generated by this internetwork so in 00:13:05.820 --> 00:13:07.579 align:start position:0% generated by this internetwork so in this<00:13:05.940> case<00:13:06.180> this<00:13:06.600> user<00:13:06.839> is<00:13:07.020> paying<00:13:07.230> one<00:13:07.410> dollar 00:13:07.579 --> 00:13:07.589 align:start position:0% this case this user is paying one dollar 00:13:07.589 --> 00:13:09.319 align:start position:0% this case this user is paying one dollar per<00:13:07.920> hour<00:13:08.070> and<00:13:08.339> in<00:13:08.490> the<00:13:08.700> internet<00:13:09.060> works<00:13:09.209> to 00:13:09.319 --> 00:13:09.329 align:start position:0% per hour and in the internet works to 00:13:09.329 --> 00:13:11.090 align:start position:0% per hour and in the internet works to receiving<00:13:09.600> $2.00<00:13:09.930> per<00:13:10.110> hour<00:13:10.200> and<00:13:10.500> the<00:13:10.829> seizure 00:13:11.090 --> 00:13:11.100 align:start position:0% receiving $2.00 per hour and the seizure 00:13:11.100 --> 00:13:13.730 align:start position:0% receiving $2.00 per hour and the seizure is<00:13:11.310> basically<00:13:12.000> have<00:13:12.329> a<00:13:12.360> half<00:13:13.200> of<00:13:13.440> the<00:13:13.589> state 00:13:13.730 --> 00:13:13.740 align:start position:0% is basically have a half of the state 00:13:13.740 --> 00:13:15.610 align:start position:0% is basically have a half of the state guardian<00:13:14.100> covering<00:13:14.430> for<00:13:14.610> him<00:13:14.760> and<00:13:15.029> of<00:13:15.360> course 00:13:15.610 --> 00:13:15.620 align:start position:0% guardian covering for him and of course 00:13:15.620 --> 00:13:20.510 align:start position:0% guardian covering for him and of course if<00:13:16.620> you<00:13:17.480> have<00:13:18.480> like<00:13:18.839> a<00:13:18.870> more<00:13:19.620> token<00:13:20.010> state<00:13:20.279> in 00:13:20.510 --> 00:13:20.520 align:start position:0% if you have like a more token state in 00:13:20.520 --> 00:13:21.449 align:start position:0% if you have like a more token state in this 00:13:21.449 --> 00:13:21.459 align:start position:0% this 00:13:21.459 --> 00:13:24.509 align:start position:0% this you<00:13:21.999> got<00:13:22.179> more<00:13:22.449> work<00:13:22.629> to<00:13:22.839> do<00:13:22.959> and<00:13:23.519> therefore 00:13:24.509 --> 00:13:24.519 align:start position:0% you got more work to do and therefore 00:13:24.519 --> 00:13:26.970 align:start position:0% you got more work to do and therefore get<00:13:25.300> overall<00:13:25.720> more<00:13:25.929> income<00:13:26.319> as<00:13:26.529> a<00:13:26.589> state 00:13:26.970 --> 00:13:26.980 align:start position:0% get overall more income as a state 00:13:26.980 --> 00:13:28.769 align:start position:0% get overall more income as a state Guardian<00:13:27.339> to<00:13:27.459> perform<00:13:27.759> the<00:13:27.910> job<00:13:27.939> to<00:13:28.480> a<00:13:28.509> health 00:13:28.769 --> 00:13:28.779 align:start position:0% Guardian to perform the job to a health 00:13:28.779 --> 00:13:32.309 align:start position:0% Guardian to perform the job to a health user<00:13:28.990> card<00:13:29.259> state<00:13:30.329> now<00:13:31.329> how<00:13:31.720> this<00:13:31.869> works<00:13:31.929> in 00:13:32.309 --> 00:13:32.319 align:start position:0% user card state now how this works in 00:13:32.319 --> 00:13:34.919 align:start position:0% user card state now how this works in practice<00:13:32.350> done<00:13:32.920> so<00:13:33.540> and<00:13:34.540> it's<00:13:34.689> become 00:13:34.919 --> 00:13:34.929 align:start position:0% practice done so and it's become 00:13:34.929 --> 00:13:37.259 align:start position:0% practice done so and it's become measures<00:13:35.259> against<00:13:35.529> I'm<00:13:35.709> a<00:13:35.769> dollar<00:13:36.040> state<00:13:36.399> now 00:13:37.259 --> 00:13:37.269 align:start position:0% measures against I'm a dollar state now 00:13:37.269 --> 00:13:38.819 align:start position:0% measures against I'm a dollar state now each<00:13:37.540> of<00:13:37.600> the<00:13:37.899> state<00:13:38.079> Guardian<00:13:38.470> randomly 00:13:38.819 --> 00:13:38.829 align:start position:0% each of the state Guardian randomly 00:13:38.829 --> 00:13:41.100 align:start position:0% each of the state Guardian randomly assigned<00:13:39.129> that<00:13:39.399> will<00:13:39.550> have<00:13:39.879> a<00:13:40.119> desk<00:13:40.660> and<00:13:40.809> a<00:13:40.869> DSP 00:13:41.100 --> 00:13:41.110 align:start position:0% assigned that will have a desk and a DSP 00:13:41.110 --> 00:13:42.989 align:start position:0% assigned that will have a desk and a DSP lot<00:13:41.499> and<00:13:41.709> there<00:13:42.339> is<00:13:42.429> the<00:13:42.519> anti-corrosion 00:13:42.989 --> 00:13:42.999 align:start position:0% lot and there is the anti-corrosion 00:13:42.999 --> 00:13:45.210 align:start position:0% lot and there is the anti-corrosion build<00:13:43.420> in<00:13:43.660> English<00:13:44.019> process<00:13:44.410> meaning<00:13:44.740> that<00:13:44.860> if 00:13:45.210 --> 00:13:45.220 align:start position:0% build in English process meaning that if 00:13:45.220 --> 00:13:46.919 align:start position:0% build in English process meaning that if the<00:13:45.429> first<00:13:45.579> day<00:13:45.790> Guardian<00:13:46.149> is<00:13:46.300> malicious<00:13:46.569> and 00:13:46.919 --> 00:13:46.929 align:start position:0% the first day Guardian is malicious and 00:13:46.929 --> 00:13:49.109 align:start position:0% the first day Guardian is malicious and the<00:13:47.499> second<00:13:47.769> Guardian<00:13:48.129> can<00:13:48.550> jump<00:13:48.819> in<00:13:48.970> and 00:13:49.109 --> 00:13:49.119 align:start position:0% the second Guardian can jump in and 00:13:49.119 --> 00:13:51.449 align:start position:0% the second Guardian can jump in and submit<00:13:49.389> the<00:13:49.600> state<00:13:49.839> and<00:13:50.079> the<00:13:50.889> incentive<00:13:51.339> for 00:13:51.449 --> 00:13:51.459 align:start position:0% submit the state and the incentive for 00:13:51.459 --> 00:13:53.160 align:start position:0% submit the state and the incentive for the<00:13:51.550> second<00:13:51.879> Guardian<00:13:52.179> is<00:13:52.389> not<00:13:52.569> only<00:13:52.929> just 00:13:53.160 --> 00:13:53.170 align:start position:0% the second Guardian is not only just 00:13:53.170 --> 00:13:54.840 align:start position:0% the second Guardian is not only just take<00:13:53.350> the<00:13:53.529> fee<00:13:53.740> from<00:13:53.980> the<00:13:54.040> user<00:13:54.339> but<00:13:54.819> also 00:13:54.840 --> 00:13:54.850 align:start position:0% take the fee from the user but also 00:13:54.850 --> 00:13:57.540 align:start position:0% take the fee from the user but also taking<00:13:55.689> the<00:13:55.959> you<00:13:56.740> know<00:13:56.829> state<00:13:57.009> guardian<00:13:57.399> who 00:13:57.540 --> 00:13:57.550 align:start position:0% taking the you know state guardian who 00:13:57.550 --> 00:13:59.389 align:start position:0% taking the you know state guardian who didn't<00:13:57.879> do<00:13:58.029> his<00:13:58.240> job<00:13:58.269> properly 00:13:59.389 --> 00:13:59.399 align:start position:0% didn't do his job properly 00:13:59.399 --> 00:14:04.160 align:start position:0% didn't do his job properly all<00:14:00.399> his<00:14:00.670> seller<00:14:00.879> tokens<00:14:01.329> away<00:14:01.899> basically<00:14:02.410> and 00:14:04.160 --> 00:14:04.170 align:start position:0% all his seller tokens away basically and 00:14:04.170 --> 00:14:07.739 align:start position:0% all his seller tokens away basically and you<00:14:05.170> know<00:14:05.649> in<00:14:05.949> the<00:14:06.069> worst<00:14:06.279> case<00:14:06.579> all<00:14:07.360> the<00:14:07.569> state 00:14:07.739 --> 00:14:07.749 align:start position:0% you know in the worst case all the state 00:14:07.749 --> 00:14:10.049 align:start position:0% you know in the worst case all the state Guardians<00:14:08.170> can<00:14:08.379> be<00:14:08.529> malicious<00:14:08.800> and<00:14:09.220> they<00:14:09.819> can 00:14:10.049 --> 00:14:10.059 align:start position:0% Guardians can be malicious and they can 00:14:10.059 --> 00:14:13.049 align:start position:0% Guardians can be malicious and they can basically<00:14:10.209> not<00:14:10.720> dispute<00:14:11.170> for<00:14:11.410> euler's<00:14:12.160> state 00:14:13.049 --> 00:14:13.059 align:start position:0% basically not dispute for euler's state 00:14:13.059 --> 00:14:16.290 align:start position:0% basically not dispute for euler's state and<00:14:13.360> what<00:14:14.230> will<00:14:14.379> happen<00:14:14.589> finally<00:14:15.220> that<00:14:15.610> all 00:14:16.290 --> 00:14:16.300 align:start position:0% and what will happen finally that all 00:14:16.300 --> 00:14:20.819 align:start position:0% and what will happen finally that all this<00:14:17.069> all<00:14:18.069> this<00:14:18.629> so<00:14:19.629> when<00:14:20.170> user<00:14:20.319> comes<00:14:20.619> online 00:14:20.819 --> 00:14:20.829 align:start position:0% this all this so when user comes online 00:14:20.829 --> 00:14:22.889 align:start position:0% this all this so when user comes online later<00:14:21.249> on<00:14:21.490> you<00:14:21.999> can<00:14:22.179> submit<00:14:22.389> a<00:14:22.509> proof<00:14:22.779> of 00:14:22.889 --> 00:14:22.899 align:start position:0% later on you can submit a proof of 00:14:22.899 --> 00:14:24.869 align:start position:0% later on you can submit a proof of malicious<00:14:23.379> behavior<00:14:23.559> and<00:14:24.040> all<00:14:24.490> the<00:14:24.730> others 00:14:24.869 --> 00:14:24.879 align:start position:0% malicious behavior and all the others 00:14:24.879 --> 00:14:26.069 align:start position:0% malicious behavior and all the others that<00:14:24.970> are<00:14:25.029> talking<00:14:25.329> will<00:14:25.420> be<00:14:25.509> compensated<00:14:26.049> for 00:14:26.069 --> 00:14:26.079 align:start position:0% that are talking will be compensated for 00:14:26.079 --> 00:14:28.379 align:start position:0% that are talking will be compensated for the<00:14:26.379> other<00:14:26.499> now<00:14:26.709> what<00:14:27.160> is<00:14:27.309> this<00:14:27.519> this<00:14:28.329> is 00:14:28.379 --> 00:14:28.389 align:start position:0% the other now what is this this is 00:14:28.389 --> 00:14:30.509 align:start position:0% the other now what is this this is actually<00:14:28.809> a<00:14:29.079> very<00:14:29.470> very<00:14:29.740> efficient<00:14:30.429> the 00:14:30.509 --> 00:14:30.519 align:start position:0% actually a very very efficient the 00:14:30.519 --> 00:14:32.579 align:start position:0% actually a very very efficient the pricing<00:14:31.029> mechanism<00:14:31.149> combined<00:14:31.959> with<00:14:32.230> and<00:14:32.470> you 00:14:32.579 --> 00:14:32.589 align:start position:0% pricing mechanism combined with and you 00:14:32.589 --> 00:14:34.759 align:start position:0% pricing mechanism combined with and you know<00:14:32.649> kind<00:14:32.889> of<00:14:32.980> insurance<00:14:33.279> model<00:14:33.699> right<00:14:34.360> so 00:14:34.759 --> 00:14:34.769 align:start position:0% know kind of insurance model right so 00:14:34.769 --> 00:14:38.730 align:start position:0% know kind of insurance model right so you<00:14:35.769> know<00:14:35.860> because<00:14:36.790> user<00:14:37.480> when<00:14:38.350> user<00:14:38.619> is 00:14:38.730 --> 00:14:38.740 align:start position:0% you know because user when user is 00:14:38.740 --> 00:14:40.319 align:start position:0% you know because user when user is trying<00:14:38.889> to<00:14:38.980> submit<00:14:39.279> a<00:14:39.369> State<00:14:39.579> Euler<00:14:39.879> is<00:14:39.999> also 00:14:40.319 --> 00:14:40.329 align:start position:0% trying to submit a State Euler is also 00:14:40.329 --> 00:14:41.970 align:start position:0% trying to submit a State Euler is also trying<00:14:40.629> to<00:14:40.720> submit<00:14:41.139> what<00:14:41.350> is<00:14:41.470> the<00:14:41.619> payment 00:14:41.970 --> 00:14:41.980 align:start position:0% trying to submit what is the payment 00:14:41.980 --> 00:14:45.059 align:start position:0% trying to submit what is the payment associated<00:14:42.670> way<00:14:43.059> state<00:14:43.299> so<00:14:43.860> EULA<00:14:44.860> can 00:14:45.059 --> 00:14:45.069 align:start position:0% associated way state so EULA can 00:14:45.069 --> 00:14:46.590 align:start position:0% associated way state so EULA can increase<00:14:45.399> the<00:14:45.549> level<00:14:45.790> of<00:14:45.850> payment<00:14:46.240> to<00:14:46.329> have 00:14:46.590 --> 00:14:46.600 align:start position:0% increase the level of payment to have 00:14:46.600 --> 00:14:48.269 align:start position:0% increase the level of payment to have more<00:14:46.929> say<00:14:47.230> Guardians<00:14:47.649> regarding<00:14:47.980> for<00:14:48.189> the 00:14:48.269 --> 00:14:48.279 align:start position:0% more say Guardians regarding for the 00:14:48.279 --> 00:14:50.879 align:start position:0% more say Guardians regarding for the users<00:14:48.579> or<00:14:48.970> user<00:14:49.179> can<00:14:49.420> truly<00:14:49.660> try<00:14:49.899> to<00:14:49.959> choose<00:14:50.709> to 00:14:50.879 --> 00:14:50.889 align:start position:0% users or user can truly try to choose to 00:14:50.889 --> 00:14:52.769 align:start position:0% users or user can truly try to choose to like<00:14:51.100> use<00:14:51.549> a<00:14:51.579> small<00:14:51.970> amount<00:14:51.999> of<00:14:52.269> payment<00:14:52.629> to 00:14:52.769 --> 00:14:52.779 align:start position:0% like use a small amount of payment to 00:14:52.779 --> 00:14:54.539 align:start position:0% like use a small amount of payment to have<00:14:53.290> like<00:14:53.559> a<00:14:53.589> smaller<00:14:53.980> amount<00:14:54.339> of<00:14:54.399> the 00:14:54.539 --> 00:14:54.549 align:start position:0% have like a smaller amount of the 00:14:54.549 --> 00:14:56.249 align:start position:0% have like a smaller amount of the Guardian<00:14:54.879> coding<00:14:55.149> for<00:14:55.540> the<00:14:55.600> state<00:14:55.809> now<00:14:56.230> the 00:14:56.249 --> 00:14:56.259 align:start position:0% Guardian coding for the state now the 00:14:56.259 --> 00:14:58.049 align:start position:0% Guardian coding for the state now the reason<00:14:57.009> that<00:14:57.040> this<00:14:57.160> is<00:14:57.309> a<00:14:57.459> new<00:14:57.670> car<00:14:57.879> being 00:14:58.049 --> 00:14:58.059 align:start position:0% reason that this is a new car being 00:14:58.059 --> 00:14:59.850 align:start position:0% reason that this is a new car being insurance<00:14:58.420> model<00:14:58.569> is<00:14:58.869> because<00:14:59.350> what<00:14:59.740> is 00:14:59.850 --> 00:14:59.860 align:start position:0% insurance model is because what is 00:14:59.860 --> 00:15:01.169 align:start position:0% insurance model is because what is started<00:15:00.160> talking<00:15:00.399> here<00:15:00.639> is<00:15:00.819> basically 00:15:01.169 --> 00:15:01.179 align:start position:0% started talking here is basically 00:15:01.179 --> 00:15:02.999 align:start position:0% started talking here is basically representing<00:15:01.809> the<00:15:01.929> income<00:15:02.290> flow<00:15:02.529> if<00:15:02.709> you<00:15:02.829> do 00:15:02.999 --> 00:15:03.009 align:start position:0% representing the income flow if you do 00:15:03.009 --> 00:15:04.410 align:start position:0% representing the income flow if you do the<00:15:03.129> work<00:15:03.249> in<00:15:03.519> the<00:15:03.610> state<00:15:03.790> Guardian<00:15:04.149> network 00:15:04.410 --> 00:15:04.420 align:start position:0% the work in the state Guardian network 00:15:04.420 --> 00:15:06.689 align:start position:0% the work in the state Guardian network and<00:15:04.869> therefore<00:15:05.350> user<00:15:05.829> is<00:15:05.949> not<00:15:06.129> insuring 00:15:06.689 --> 00:15:06.699 align:start position:0% and therefore user is not insuring 00:15:06.699 --> 00:15:09.739 align:start position:0% and therefore user is not insuring against<00:15:07.029> X<00:15:07.209> percent<00:15:07.749> but<00:15:08.259> insuring<00:15:08.860> with<00:15:09.309> a 00:15:09.739 --> 00:15:09.749 align:start position:0% against X percent but insuring with a 00:15:09.749 --> 00:15:13.350 align:start position:0% against X percent but insuring with a speed<00:15:10.749> to<00:15:11.079> recover<00:15:11.499> potential<00:15:12.160> loss<00:15:12.339> and<00:15:13.149> if 00:15:13.350 --> 00:15:13.360 align:start position:0% speed to recover potential loss and if 00:15:13.360 --> 00:15:16.199 align:start position:0% speed to recover potential loss and if you<00:15:13.779> know<00:15:13.899> there<00:15:14.499> is<00:15:14.589> a<00:15:14.619> kind<00:15:14.889> of<00:15:14.920> a<00:15:15.040> state<00:15:15.399> this 00:15:16.199 --> 00:15:16.209 align:start position:0% you know there is a kind of a state this 00:15:16.209 --> 00:15:18.509 align:start position:0% you know there is a kind of a state this kind<00:15:16.449> of<00:15:16.480> a<00:15:16.629> worst-case<00:15:17.529> happening<00:15:18.100> even<00:15:18.249> with 00:15:18.509 --> 00:15:18.519 align:start position:0% kind of a worst-case happening even with 00:15:18.519 --> 00:15:21.829 align:start position:0% kind of a worst-case happening even with anti-corrosion<00:15:19.470> so<00:15:20.470> this<00:15:20.860> is<00:15:20.980> how<00:15:21.189> we<00:15:21.249> solve 00:15:21.829 --> 00:15:21.839 align:start position:0% anti-corrosion so this is how we solve 00:15:21.839 --> 00:15:25.019 align:start position:0% anti-corrosion so this is how we solve this<00:15:22.839> state<00:15:23.230> availability<00:15:23.829> challenge<00:15:24.249> using 00:15:25.019 --> 00:15:25.029 align:start position:0% this state availability challenge using 00:15:25.029 --> 00:15:27.869 align:start position:0% this state availability challenge using a<00:15:25.269> size<00:15:26.019> gene<00:15:26.290> construct<00:15:26.769> effectively<00:15:27.399> now 00:15:27.869 --> 00:15:27.879 align:start position:0% a size gene construct effectively now 00:15:27.879 --> 00:15:29.569 align:start position:0% a size gene construct effectively now the<00:15:28.209> second<00:15:28.480> challenge<00:15:28.899> is<00:15:28.990> called<00:15:29.230> state 00:15:29.569 --> 00:15:29.579 align:start position:0% the second challenge is called state 00:15:29.579 --> 00:15:31.919 align:start position:0% the second challenge is called state connectivity<00:15:30.579> challenge<00:15:30.970> what<00:15:31.899> is 00:15:31.919 --> 00:15:31.929 align:start position:0% connectivity challenge what is 00:15:31.929 --> 00:15:33.600 align:start position:0% connectivity challenge what is collective<00:15:32.410> Turrentine<00:15:32.829> challenges<00:15:33.399> this 00:15:33.600 --> 00:15:33.610 align:start position:0% collective Turrentine challenges this 00:15:33.610 --> 00:15:35.100 align:start position:0% collective Turrentine challenges this basically<00:15:34.299> you 00:15:35.100 --> 00:15:35.110 align:start position:0% basically you 00:15:35.110 --> 00:15:38.160 align:start position:0% basically you Alice<00:15:35.560> and<00:15:35.770> Bob<00:15:35.830> playing<00:15:36.520> a<00:15:36.760> board<00:15:37.750> game<00:15:37.780> on 00:15:38.160 --> 00:15:38.170 align:start position:0% Alice and Bob playing a board game on 00:15:38.170 --> 00:15:39.930 align:start position:0% Alice and Bob playing a board game on state<00:15:38.500> channel<00:15:38.770> and<00:15:38.950> and<00:15:39.370> it's<00:15:39.520> descending 00:15:39.930 --> 00:15:39.940 align:start position:0% state channel and and it's descending 00:15:39.940 --> 00:15:41.820 align:start position:0% state channel and and it's descending the<00:15:40.030> winning<00:15:40.330> proof<00:15:40.600> to<00:15:40.960> Bob<00:15:41.170> right<00:15:41.680> so 00:15:41.820 --> 00:15:41.830 align:start position:0% the winning proof to Bob right so 00:15:41.830 --> 00:15:43.440 align:start position:0% the winning proof to Bob right so basically<00:15:42.040> I<00:15:42.340> just<00:15:42.490> made<00:15:42.700> a<00:15:42.730> winning<00:15:43.060> move<00:15:43.180> and 00:15:43.440 --> 00:15:43.450 align:start position:0% basically I just made a winning move and 00:15:43.450 --> 00:15:45.690 align:start position:0% basically I just made a winning move and send<00:15:43.840> the<00:15:43.960> proof<00:15:44.170> to<00:15:44.320> the<00:15:44.440> Bob<00:15:44.590> but<00:15:45.310> Bob<00:15:45.340> is 00:15:45.690 --> 00:15:45.700 align:start position:0% send the proof to the Bob but Bob is 00:15:45.700 --> 00:15:48.090 align:start position:0% send the proof to the Bob but Bob is refusing<00:15:46.090> to<00:15:46.240> science<00:15:46.750> and<00:15:46.930> rich<00:15:47.140> quit<00:15:47.350> now 00:15:48.090 --> 00:15:48.100 align:start position:0% refusing to science and rich quit now 00:15:48.100 --> 00:15:49.080 align:start position:0% refusing to science and rich quit now what<00:15:48.310> do<00:15:48.370> we<00:15:48.460> do 00:15:49.080 --> 00:15:49.090 align:start position:0% what do we do 00:15:49.090 --> 00:15:51.330 align:start position:0% what do we do should<00:15:49.600> Alice<00:15:49.900> just<00:15:50.080> um<00:15:50.260> in<00:15:50.440> this<00:15:50.680> state<00:15:51.100> who 00:15:51.330 --> 00:15:51.340 align:start position:0% should Alice just um in this state who 00:15:51.340 --> 00:15:54.360 align:start position:0% should Alice just um in this state who are<00:15:51.370> the<00:15:51.880> main<00:15:52.090> King<00:15:52.330> and<00:15:52.510> try<00:15:52.780> to<00:15:52.840> punish<00:15:53.370> Bob 00:15:54.360 --> 00:15:54.370 align:start position:0% are the main King and try to punish Bob 00:15:54.370 --> 00:15:55.920 align:start position:0% are the main King and try to punish Bob at<00:15:54.550> the<00:15:54.640> same<00:15:54.820> time<00:15:55.030> well<00:15:55.300> no<00:15:55.510> because 00:15:55.920 --> 00:15:55.930 align:start position:0% at the same time well no because 00:15:55.930 --> 00:15:57.450 align:start position:0% at the same time well no because blocking<00:15:56.620> cannot<00:15:56.920> differentiate<00:15:57.310> between 00:15:57.450 --> 00:15:57.460 align:start position:0% blocking cannot differentiate between 00:15:57.460 --> 00:16:00.180 align:start position:0% blocking cannot differentiate between these<00:15:58.090> three<00:15:58.330> scenarios<00:15:58.650> the<00:15:59.650> first<00:15:59.830> case<00:16:00.010> is 00:16:00.180 --> 00:16:00.190 align:start position:0% these three scenarios the first case is 00:16:00.190 --> 00:16:01.650 align:start position:0% these three scenarios the first case is a<00:16:00.220> Bob<00:16:00.430> bridge<00:16:00.610> quitting<00:16:00.910> the<00:16:01.000> second<00:16:01.330> case<00:16:01.480> is 00:16:01.650 --> 00:16:01.660 align:start position:0% a Bob bridge quitting the second case is 00:16:01.660 --> 00:16:03.720 align:start position:0% a Bob bridge quitting the second case is that<00:16:01.780> alice<00:16:02.470> is<00:16:02.830> actually<00:16:03.220> malicious<00:16:03.580> they 00:16:03.720 --> 00:16:03.730 align:start position:0% that alice is actually malicious they 00:16:03.730 --> 00:16:05.070 align:start position:0% that alice is actually malicious they trying<00:16:03.970> to<00:16:04.000> submit<00:16:04.240> at<00:16:04.450> stage<00:16:04.630> two<00:16:04.870> let's<00:16:05.050> say 00:16:05.070 --> 00:16:05.080 align:start position:0% trying to submit at stage two let's say 00:16:05.080 --> 00:16:08.340 align:start position:0% trying to submit at stage two let's say to<00:16:05.620> the<00:16:06.010> ethier<00:16:06.280> main<00:16:06.520> chain<00:16:06.730> or<00:16:07.510> there's<00:16:07.840> no 00:16:08.340 --> 00:16:08.350 align:start position:0% to the ethier main chain or there's no 00:16:08.350 --> 00:16:10.140 align:start position:0% to the ethier main chain or there's no one's<00:16:08.560> fault<00:16:08.800> it's<00:16:08.980> just<00:16:09.040> in<00:16:09.520> England<00:16:09.940> in<00:16:10.030> the 00:16:10.140 --> 00:16:10.150 align:start position:0% one's fault it's just in England in the 00:16:10.150 --> 00:16:11.100 align:start position:0% one's fault it's just in England in the in<00:16:10.300> the<00:16:10.390> middle<00:16:10.600> there<00:16:10.750> is<00:16:10.780> some<00:16:10.960> natural 00:16:11.100 --> 00:16:11.110 align:start position:0% in the middle there is some natural 00:16:11.110 --> 00:16:14.100 align:start position:0% in the middle there is some natural problem<00:16:11.500> between<00:16:11.770> them<00:16:12.030> so<00:16:13.030> we<00:16:13.180> need<00:16:13.390> a<00:16:13.720> full 00:16:14.100 --> 00:16:14.110 align:start position:0% problem between them so we need a full 00:16:14.110 --> 00:16:15.720 align:start position:0% problem between them so we need a full back<00:16:14.290> data<00:16:14.590> exchange<00:16:15.010> fabric<00:16:15.430> that<00:16:15.550> is<00:16:15.700> a 00:16:15.720 --> 00:16:15.730 align:start position:0% back data exchange fabric that is a 00:16:15.730 --> 00:16:17.910 align:start position:0% back data exchange fabric that is a reasonably<00:16:16.180> available<00:16:16.390> and<00:16:17.050> actually 00:16:17.910 --> 00:16:17.920 align:start position:0% reasonably available and actually 00:16:17.920 --> 00:16:20.610 align:start position:0% reasonably available and actually actually<00:16:18.100> be<00:16:18.400> able<00:16:18.460> to<00:16:18.960> have<00:16:19.960> attribution<00:16:20.560> of 00:16:20.610 --> 00:16:20.620 align:start position:0% actually be able to have attribution of 00:16:20.620 --> 00:16:22.950 align:start position:0% actually be able to have attribution of state<00:16:21.250> availability<00:16:21.730> of<00:16:21.790> time<00:16:22.000> and<00:16:22.240> it's<00:16:22.720> also 00:16:22.950 --> 00:16:22.960 align:start position:0% state availability of time and it's also 00:16:22.960 --> 00:16:24.630 align:start position:0% state availability of time and it's also cost<00:16:23.230> effective<00:16:23.350> and<00:16:23.890> doesn't<00:16:24.100> require<00:16:24.280> large 00:16:24.630 --> 00:16:24.640 align:start position:0% cost effective and doesn't require large 00:16:24.640 --> 00:16:26.100 align:start position:0% cost effective and doesn't require large amount<00:16:24.880> of<00:16:24.910> which<00:16:25.060> source<00:16:25.240> from<00:16:25.480> the<00:16:25.690> end 00:16:26.100 --> 00:16:26.110 align:start position:0% amount of which source from the end 00:16:26.110 --> 00:16:29.430 align:start position:0% amount of which source from the end users<00:16:26.440> now<00:16:27.510> blogging<00:16:28.510> as<00:16:28.660> data<00:16:28.990> availability 00:16:29.430 --> 00:16:29.440 align:start position:0% users now blogging as data availability 00:16:29.440 --> 00:16:30.630 align:start position:0% users now blogging as data availability service<00:16:29.860> is<00:16:30.010> the<00:16:30.160> most<00:16:30.190> straightforward 00:16:30.630 --> 00:16:30.640 align:start position:0% service is the most straightforward 00:16:30.640 --> 00:16:33.060 align:start position:0% service is the most straightforward answer<00:16:31.180> it<00:16:31.450> is<00:16:31.720> definitely<00:16:32.260> available<00:16:32.500> like 00:16:33.060 --> 00:16:33.070 align:start position:0% answer it is definitely available like 00:16:33.070 --> 00:16:34.980 align:start position:0% answer it is definitely available like it's<00:16:33.790> basically<00:16:34.210> we're<00:16:34.540> assuming<00:16:34.780> that 00:16:34.980 --> 00:16:34.990 align:start position:0% it's basically we're assuming that 00:16:34.990 --> 00:16:37.520 align:start position:0% it's basically we're assuming that everyone<00:16:35.410> has<00:16:35.620> some<00:16:35.830> availability<00:16:36.250> to<00:16:36.640> that's 00:16:37.520 --> 00:16:37.530 align:start position:0% everyone has some availability to that's 00:16:37.530 --> 00:16:41.430 align:start position:0% everyone has some availability to that's blocking<00:16:38.970> infrastructure<00:16:39.970> and<00:16:40.210> it<00:16:40.960> also<00:16:41.170> have 00:16:41.430 --> 00:16:41.440 align:start position:0% blocking infrastructure and it also have 00:16:41.440 --> 00:16:42.960 align:start position:0% blocking infrastructure and it also have attribution<00:16:41.920> of<00:16:41.950> but<00:16:42.340> it's<00:16:42.490> time<00:16:42.700> but<00:16:42.880> the 00:16:42.960 --> 00:16:42.970 align:start position:0% attribution of but it's time but the 00:16:42.970 --> 00:16:44.340 align:start position:0% attribution of but it's time but the problem<00:16:43.330> is<00:16:43.420> that<00:16:43.450> it<00:16:43.660> incurs<00:16:43.960> on<00:16:44.140> gene 00:16:44.340 --> 00:16:44.350 align:start position:0% problem is that it incurs on gene 00:16:44.350 --> 00:16:47.640 align:start position:0% problem is that it incurs on gene storage<00:16:44.800> and<00:16:45.210> we<00:16:46.210> cannot<00:16:46.570> even<00:16:46.630> like<00:16:46.990> a<00:16:47.020> you 00:16:47.640 --> 00:16:47.650 align:start position:0% storage and we cannot even like a you 00:16:47.650 --> 00:16:50.220 align:start position:0% storage and we cannot even like a you know<00:16:47.680> basically<00:16:47.950> purge<00:16:48.370> that<00:16:48.400> storage<00:16:49.230> rats 00:16:50.220 --> 00:16:50.230 align:start position:0% know basically purge that storage rats 00:16:50.230 --> 00:16:52.260 align:start position:0% know basically purge that storage rats the<00:16:50.380> efficiently<00:16:51.010> and<00:16:51.220> it<00:16:51.550> requires<00:16:51.910> oh<00:16:52.090> and 00:16:52.260 --> 00:16:52.270 align:start position:0% the efficiently and it requires oh and 00:16:52.270 --> 00:16:55.740 align:start position:0% the efficiently and it requires oh and monitoring<00:16:52.650> so<00:16:53.650> we<00:16:54.490> can<00:16:54.670> basically<00:16:55.060> piggyback 00:16:55.740 --> 00:16:55.750 align:start position:0% monitoring so we can basically piggyback 00:16:55.750 --> 00:16:57.000 align:start position:0% monitoring so we can basically piggyback the<00:16:56.020> Stata<00:16:56.290> guardian<00:16:56.650> that's<00:16:56.770> what<00:16:56.890> we<00:16:56.980> just 00:16:57.000 --> 00:16:57.010 align:start position:0% the Stata guardian that's what we just 00:16:57.010 --> 00:16:58.890 align:start position:0% the Stata guardian that's what we just mentioned<00:16:57.370> also<00:16:57.790> as<00:16:58.120> a<00:16:58.150> data<00:16:58.480> availability 00:16:58.890 --> 00:16:58.900 align:start position:0% mentioned also as a data availability 00:16:58.900 --> 00:17:00.810 align:start position:0% mentioned also as a data availability service<00:16:59.410> our<00:16:59.530> data<00:16:59.740> connected<00:17:00.100> scissors<00:17:00.460> it 00:17:00.810 --> 00:17:00.820 align:start position:0% service our data connected scissors it 00:17:00.820 --> 00:17:02.700 align:start position:0% service our data connected scissors it is<00:17:01.120> reasonable<00:17:01.570> available<00:17:01.960> has<00:17:02.110> attribution 00:17:02.700 --> 00:17:02.710 align:start position:0% is reasonable available has attribution 00:17:02.710 --> 00:17:04.410 align:start position:0% is reasonable available has attribution of<00:17:02.890> availability<00:17:03.520> time<00:17:03.910> because<00:17:04.180> it 00:17:04.410 --> 00:17:04.420 align:start position:0% of availability time because it 00:17:04.420 --> 00:17:06.360 align:start position:0% of availability time because it constructed<00:17:05.080> the<00:17:05.170> like<00:17:05.380> sort<00:17:06.130> of<00:17:06.160> like<00:17:06.250> a 00:17:06.360 --> 00:17:06.370 align:start position:0% constructed the like sort of like a 00:17:06.370 --> 00:17:10.380 align:start position:0% constructed the like sort of like a plasma<00:17:06.820> and<00:17:08.760> Montaine<00:17:09.760> storages<00:17:10.270> and 00:17:10.380 --> 00:17:10.390 align:start position:0% plasma and Montaine storages and 00:17:10.390 --> 00:17:12.240 align:start position:0% plasma and Montaine storages and therefore<00:17:10.720> it<00:17:10.810> solves<00:17:11.170> a<00:17:11.260> kind<00:17:11.709> of<00:17:11.770> expensive 00:17:12.240 --> 00:17:12.250 align:start position:0% therefore it solves a kind of expensive 00:17:12.250 --> 00:17:15.930 align:start position:0% therefore it solves a kind of expensive problem<00:17:12.699> we<00:17:13.240> are<00:17:13.270> facing<00:17:13.560> and<00:17:14.560> it<00:17:15.040> requires<00:17:15.730> to 00:17:15.930 --> 00:17:15.940 align:start position:0% problem we are facing and it requires to 00:17:15.940 --> 00:17:18.570 align:start position:0% problem we are facing and it requires to actually<00:17:16.330> oh<00:17:16.480> I<00:17:16.750> made<00:17:17.440> a<00:17:17.470> typo<00:17:17.680> basically<00:17:18.250> it 00:17:18.570 --> 00:17:18.580 align:start position:0% actually oh I made a typo basically it 00:17:18.580 --> 00:17:21.480 align:start position:0% actually oh I made a typo basically it actually<00:17:18.970> requires<00:17:19.510> a<00:17:19.890> log<00:17:20.890> and<00:17:21.070> monitoring 00:17:21.480 --> 00:17:21.490 align:start position:0% actually requires a log and monitoring 00:17:21.490 --> 00:17:23.850 align:start position:0% actually requires a log and monitoring we<00:17:21.790> can<00:17:21.940> introduce<00:17:22.120> similar<00:17:22.630> ideas<00:17:23.020> of<00:17:23.380> plasma 00:17:23.850 --> 00:17:23.860 align:start position:0% we can introduce similar ideas of plasma 00:17:23.860 --> 00:17:26.400 align:start position:0% we can introduce similar ideas of plasma cash<00:17:24.240> for<00:17:25.240> this<00:17:25.510> kind<00:17:25.720> of<00:17:25.750> a<00:17:25.839> state<00:17:26.020> guarding 00:17:26.400 --> 00:17:26.410 align:start position:0% cash for this kind of a state guarding 00:17:26.410 --> 00:17:29.370 align:start position:0% cash for this kind of a state guarding our<00:17:26.589> data<00:17:27.040> connectivity<00:17:27.600> problem<00:17:28.600> which<00:17:29.050> I'm 00:17:29.370 --> 00:17:29.380 align:start position:0% our data connectivity problem which I'm 00:17:29.380 --> 00:17:31.380 align:start position:0% our data connectivity problem which I'm not<00:17:29.530> going<00:17:29.770> to<00:17:29.920> detail<00:17:30.160> too<00:17:30.610> much<00:17:30.790> so 00:17:31.380 --> 00:17:31.390 align:start position:0% not going to detail too much so 00:17:31.390 --> 00:17:33.570 align:start position:0% not going to detail too much so basically<00:17:31.930> how<00:17:32.140> it<00:17:32.230> works<00:17:32.290> is<00:17:32.620> that<00:17:32.680> it<00:17:32.890> if<00:17:33.340> a 00:17:33.570 --> 00:17:33.580 align:start position:0% basically how it works is that it if a 00:17:33.580 --> 00:17:35.460 align:start position:0% basically how it works is that it if a distinct<00:17:33.910> Bob<00:17:34.090> is<00:17:34.210> offline<00:17:34.600> Alice<00:17:35.140> would<00:17:35.230> just 00:17:35.460 --> 00:17:35.470 align:start position:0% distinct Bob is offline Alice would just 00:17:35.470 --> 00:17:36.810 align:start position:0% distinct Bob is offline Alice would just submit<00:17:35.590> a<00:17:35.710> state<00:17:35.890> probe<00:17:36.100> to<00:17:36.310> Allah<00:17:36.430> says<00:17:36.670> they 00:17:36.810 --> 00:17:36.820 align:start position:0% submit a state probe to Allah says they 00:17:36.820 --> 00:17:39.000 align:start position:0% submit a state probe to Allah says they got<00:17:37.030> in<00:17:37.150> and<00:17:37.240> that's<00:17:37.390> work<00:17:37.540> to<00:17:38.320> and<00:17:38.590> wait<00:17:38.800> for 00:17:39.000 --> 00:17:39.010 align:start position:0% got in and that's work to and wait for 00:17:39.010 --> 00:17:41.010 align:start position:0% got in and that's work to and wait for timeout<00:17:39.400> and<00:17:39.670> later<00:17:40.030> on<00:17:40.210> Alice<00:17:40.600> will<00:17:40.750> just<00:17:40.900> go 00:17:41.010 --> 00:17:41.020 align:start position:0% timeout and later on Alice will just go 00:17:41.020 --> 00:17:43.320 align:start position:0% timeout and later on Alice will just go on<00:17:41.050> Ching<00:17:41.470> and<00:17:41.650> start<00:17:42.160> at<00:17:42.370> Ruby<00:17:42.700> like<00:17:42.910> one<00:17:43.150> bit 00:17:43.320 --> 00:17:43.330 align:start position:0% on Ching and start at Ruby like one bit 00:17:43.330 --> 00:17:45.690 align:start position:0% on Ching and start at Ruby like one bit claim<00:17:43.630> challenge<00:17:44.230> with<00:17:44.440> my<00:17:44.590> bond<00:17:44.890> if<00:17:45.430> bother 00:17:45.690 --> 00:17:45.700 align:start position:0% claim challenge with my bond if bother 00:17:45.700 --> 00:17:48.930 align:start position:0% claim challenge with my bond if bother just<00:17:46.570> respond<00:17:47.020> with<00:17:47.230> actual<00:17:47.710> like 00:17:48.930 --> 00:17:48.940 align:start position:0% just respond with actual like 00:17:48.940 --> 00:17:51.660 align:start position:0% just respond with actual like with<00:17:49.660> this<00:17:49.810> if<00:17:50.710> Bob<00:17:50.950> respondus<00:17:51.490> but<00:17:51.640> a 00:17:51.660 --> 00:17:51.670 align:start position:0% with this if Bob respondus but a 00:17:51.670 --> 00:17:54.180 align:start position:0% with this if Bob respondus but a challenge<00:17:52.210> was<00:17:52.540> also<00:17:52.900> money<00:17:53.080> bond<00:17:53.320> what<00:17:54.040> else 00:17:54.180 --> 00:17:54.190 align:start position:0% challenge was also money bond what else 00:17:54.190 --> 00:17:55.740 align:start position:0% challenge was also money bond what else can<00:17:54.460> do<00:17:54.580> is<00:17:54.700> they<00:17:54.760> basically<00:17:54.940> pull<00:17:55.450> out<00:17:55.600> the 00:17:55.740 --> 00:17:55.750 align:start position:0% can do is they basically pull out the 00:17:55.750 --> 00:17:58.110 align:start position:0% can do is they basically pull out the state<00:17:55.930> ability<00:17:56.290> attachment<00:17:56.740> from<00:17:57.550> the<00:17:57.820> side 00:17:58.110 --> 00:17:58.120 align:start position:0% state ability attachment from the side 00:17:58.120 --> 00:18:02.430 align:start position:0% state ability attachment from the side chain<00:17:58.360> and<00:17:58.540> the<00:17:58.810> bubble<00:17:59.080> was<00:17:59.200> my<00:17:59.400> so<00:18:00.840> and<00:18:01.840> if 00:18:02.430 --> 00:18:02.440 align:start position:0% chain and the bubble was my so and if 00:18:02.440 --> 00:18:04.320 align:start position:0% chain and the bubble was my so and if Alice's<00:18:02.950> malicious<00:18:03.460> and<00:18:03.760> similar<00:18:04.120> state 00:18:04.320 --> 00:18:04.330 align:start position:0% Alice's malicious and similar state 00:18:04.330 --> 00:18:06.360 align:start position:0% Alice's malicious and similar state proof<00:18:04.630> before<00:18:05.320> the<00:18:05.560> timeout<00:18:05.830> actually<00:18:06.220> run 00:18:06.360 --> 00:18:06.370 align:start position:0% proof before the timeout actually run 00:18:06.370 --> 00:18:08.220 align:start position:0% proof before the timeout actually run out<00:18:06.490> Bob<00:18:07.000> will<00:18:07.180> observe<00:18:07.540> this<00:18:07.810> state<00:18:08.050> and 00:18:08.220 --> 00:18:08.230 align:start position:0% out Bob will observe this state and 00:18:08.230 --> 00:18:10.500 align:start position:0% out Bob will observe this state and respond<00:18:08.740> also<00:18:09.100> in<00:18:09.250> the<00:18:09.490> state<00:18:10.150> Guardian 00:18:10.500 --> 00:18:10.510 align:start position:0% respond also in the state Guardian 00:18:10.510 --> 00:18:11.910 align:start position:0% respond also in the state Guardian Network<00:18:10.840> for<00:18:11.260> this<00:18:11.440> kind<00:18:11.650> of<00:18:11.680> a<00:18:11.770> data 00:18:11.910 --> 00:18:11.920 align:start position:0% Network for this kind of a data 00:18:11.920 --> 00:18:14.880 align:start position:0% Network for this kind of a data connectivity<00:18:12.460> challenge<00:18:13.290> now<00:18:14.290> we<00:18:14.590> talked 00:18:14.880 --> 00:18:14.890 align:start position:0% connectivity challenge now we talked 00:18:14.890 --> 00:18:16.020 align:start position:0% connectivity challenge now we talked about<00:18:14.980> the<00:18:15.100> state<00:18:15.220> Guardian<00:18:15.580> which<00:18:15.880> is 00:18:16.020 --> 00:18:16.030 align:start position:0% about the state Guardian which is 00:18:16.030 --> 00:18:18.120 align:start position:0% about the state Guardian which is compact<00:18:16.660> side<00:18:16.870> chain<00:18:17.110> created<00:18:17.620> decentralized 00:18:18.120 --> 00:18:18.130 align:start position:0% compact side chain created decentralized 00:18:18.130 --> 00:18:20.520 align:start position:0% compact side chain created decentralized trust<00:18:18.400> and<00:18:18.780> it<00:18:19.780> has<00:18:19.990> some<00:18:20.140> corrosion 00:18:20.520 --> 00:18:20.530 align:start position:0% trust and it has some corrosion 00:18:20.530 --> 00:18:23.340 align:start position:0% trust and it has some corrosion resistant<00:18:21.180> expose<00:18:22.180> a<00:18:22.210> very<00:18:22.540> simple<00:18:23.050> unified 00:18:23.340 --> 00:18:23.350 align:start position:0% resistant expose a very simple unified 00:18:23.350 --> 00:18:24.810 align:start position:0% resistant expose a very simple unified interface<00:18:23.680> there's<00:18:24.070> no<00:18:24.250> additional 00:18:24.810 --> 00:18:24.820 align:start position:0% interface there's no additional 00:18:24.820 --> 00:18:26.610 align:start position:0% interface there's no additional liquidity<00:18:24.940> lockup<00:18:25.570> I'll<00:18:25.930> create<00:18:26.230> a<00:18:26.290> very 00:18:26.610 --> 00:18:26.620 align:start position:0% liquidity lockup I'll create a very 00:18:26.620 --> 00:18:29.310 align:start position:0% liquidity lockup I'll create a very flexible<00:18:26.890> economic<00:18:27.580> dynamics<00:18:28.000> for<00:18:28.660> pricing 00:18:29.310 --> 00:18:29.320 align:start position:0% flexible economic dynamics for pricing 00:18:29.320 --> 00:18:31.350 align:start position:0% flexible economic dynamics for pricing and<00:18:29.350> also<00:18:29.950> for<00:18:30.250> kind<00:18:30.670> of<00:18:30.700> an<00:18:30.820> insurance<00:18:31.060> model 00:18:31.350 --> 00:18:31.360 align:start position:0% and also for kind of an insurance model 00:18:31.360 --> 00:18:33.840 align:start position:0% and also for kind of an insurance model for<00:18:31.660> your<00:18:31.750> state<00:18:31.990> and<00:18:32.200> it<00:18:32.890> also<00:18:33.280> piggy<00:18:33.700> back 00:18:33.840 --> 00:18:33.850 align:start position:0% for your state and it also piggy back 00:18:33.850 --> 00:18:35.310 align:start position:0% for your state and it also piggy back with<00:18:34.090> a<00:18:34.120> solution<00:18:34.510> for<00:18:34.810> data<00:18:34.900> connectivity 00:18:35.310 --> 00:18:35.320 align:start position:0% with a solution for data connectivity 00:18:35.320 --> 00:18:37.230 align:start position:0% with a solution for data connectivity and<00:18:35.860> your<00:18:36.220> stakes<00:18:36.460> that<00:18:36.610> are<00:18:36.670> talking<00:18:37.030> into 00:18:37.230 --> 00:18:37.240 align:start position:0% and your stakes that are talking into 00:18:37.240 --> 00:18:39.120 align:start position:0% and your stakes that are talking into the<00:18:37.330> state<00:18:37.480> Guardian<00:18:37.840> network<00:18:38.170> and<00:18:38.800> earn<00:18:39.100> some 00:18:39.120 --> 00:18:39.130 align:start position:0% the state Guardian network and earn some 00:18:39.130 --> 00:18:42.080 align:start position:0% the state Guardian network and earn some service<00:18:39.610> fees<00:18:39.850> basically<00:18:40.390> now<00:18:41.140> a<00:18:41.590> third 00:18:42.080 --> 00:18:42.090 align:start position:0% service fees basically now a third 00:18:42.090 --> 00:18:44.310 align:start position:0% service fees basically now a third challenge<00:18:43.090> we<00:18:43.210> have<00:18:43.420> is<00:18:43.570> naturally<00:18:43.990> crudité 00:18:44.310 --> 00:18:44.320 align:start position:0% challenge we have is naturally crudité 00:18:44.320 --> 00:18:46.100 align:start position:0% challenge we have is naturally crudité challenge<00:18:44.650> we<00:18:45.130> envision<00:18:45.730> in<00:18:45.940> the<00:18:45.970> future 00:18:46.100 --> 00:18:46.110 align:start position:0% challenge we envision in the future 00:18:46.110 --> 00:18:48.330 align:start position:0% challenge we envision in the future state<00:18:47.110> natural<00:18:47.530> state<00:18:47.740> as<00:18:47.890> a<00:18:48.040> channel<00:18:48.280> that 00:18:48.330 --> 00:18:48.340 align:start position:0% state natural state as a channel that 00:18:48.340 --> 00:18:50.280 align:start position:0% state natural state as a channel that will<00:18:48.610> look<00:18:48.760> like<00:18:48.880> this<00:18:49.060> you<00:18:49.630> have<00:18:49.870> a<00:18:49.900> bunch<00:18:50.200> of 00:18:50.280 --> 00:18:50.290 align:start position:0% will look like this you have a bunch of 00:18:50.290 --> 00:18:53.220 align:start position:0% will look like this you have a bunch of a<00:18:50.410> big<00:18:50.860> node<00:18:51.040> which<00:18:51.310> are<00:18:51.550> the<00:18:51.990> option<00:18:52.990> service 00:18:53.220 --> 00:18:53.230 align:start position:0% a big node which are the option service 00:18:53.230 --> 00:18:54.870 align:start position:0% a big node which are the option service providers<00:18:53.650> and<00:18:53.800> smaller<00:18:54.070> node<00:18:54.400> which<00:18:54.640> are<00:18:54.760> the 00:18:54.870 --> 00:18:54.880 align:start position:0% providers and smaller node which are the 00:18:54.880 --> 00:18:57.690 align:start position:0% providers and smaller node which are the annuals<00:18:55.360> and<00:18:55.530> how<00:18:56.530> station<00:18:56.950> works<00:18:57.220> like<00:18:57.550> this 00:18:57.690 --> 00:18:57.700 align:start position:0% annuals and how station works like this 00:18:57.700 --> 00:18:59.700 align:start position:0% annuals and how station works like this right<00:18:57.970> so<00:18:58.120> you<00:18:58.510> basically<00:18:58.690> have<00:18:59.080> some<00:18:59.260> Deposit 00:18:59.700 --> 00:18:59.710 align:start position:0% right so you basically have some Deposit 00:18:59.710 --> 00:19:02.640 align:start position:0% right so you basically have some Deposit form<00:18:59.740> each<00:19:00.100> side<00:19:00.370> and<00:19:01.230> the<00:19:02.230> problem<00:19:02.590> about 00:19:02.640 --> 00:19:02.650 align:start position:0% form each side and the problem about 00:19:02.650 --> 00:19:03.960 align:start position:0% form each side and the problem about this<00:19:02.920> is<00:19:03.070> like<00:19:03.250> an<00:19:03.400> offering<00:19:03.670> service 00:19:03.960 --> 00:19:03.970 align:start position:0% this is like an offering service 00:19:03.970 --> 00:19:05.460 align:start position:0% this is like an offering service provider<00:19:04.330> can<00:19:04.510> run<00:19:04.660> out<00:19:04.810> of<00:19:04.840> money<00:19:05.110> pretty 00:19:05.460 --> 00:19:05.470 align:start position:0% provider can run out of money pretty 00:19:05.470 --> 00:19:08.100 align:start position:0% provider can run out of money pretty soon<00:19:05.790> and<00:19:06.790> sometimes<00:19:07.660> there's<00:19:07.840> a<00:19:07.930> mismatch 00:19:08.100 --> 00:19:08.110 align:start position:0% soon and sometimes there's a mismatch 00:19:08.110 --> 00:19:11.580 align:start position:0% soon and sometimes there's a mismatch between<00:19:08.500> the<00:19:09.240> offering<00:19:10.240> service<00:19:10.590> providers 00:19:11.580 --> 00:19:11.590 align:start position:0% between the offering service providers 00:19:11.590 --> 00:19:13.040 align:start position:0% between the offering service providers technical<00:19:11.980> capability<00:19:12.460> and<00:19:12.640> their 00:19:13.040 --> 00:19:13.050 align:start position:0% technical capability and their 00:19:13.050 --> 00:19:15.090 align:start position:0% technical capability and their capability<00:19:14.050> to<00:19:14.080> wail<00:19:14.350> out<00:19:14.590> like<00:19:14.950> your 00:19:15.090 --> 00:19:15.100 align:start position:0% capability to wail out like your 00:19:15.100 --> 00:19:17.040 align:start position:0% capability to wail out like your capitals<00:19:15.460> and<00:19:15.640> there<00:19:16.090> will<00:19:16.210> eventually 00:19:17.040 --> 00:19:17.050 align:start position:0% capitals and there will eventually 00:19:17.050 --> 00:19:19.110 align:start position:0% capitals and there will eventually result<00:19:17.350> to<00:19:17.530> a<00:19:17.560> centralized<00:19:17.950> zation<00:19:18.640> which<00:19:18.970> is 00:19:19.110 --> 00:19:19.120 align:start position:0% result to a centralized zation which is 00:19:19.120 --> 00:19:21.780 align:start position:0% result to a centralized zation which is something<00:19:19.480> that<00:19:19.720> we<00:19:19.810> don't<00:19:19.990> want<00:19:20.230> and<00:19:20.760> how<00:19:21.760> to 00:19:21.780 --> 00:19:21.790 align:start position:0% something that we don't want and how to 00:19:21.790 --> 00:19:24.030 align:start position:0% something that we don't want and how to solve<00:19:22.210> that<00:19:22.270> is<00:19:22.630> basically<00:19:23.380> we<00:19:23.590> construct 00:19:24.030 --> 00:19:24.040 align:start position:0% solve that is basically we construct 00:19:24.040 --> 00:19:25.410 align:start position:0% solve that is basically we construct something<00:19:24.250> called<00:19:24.610> a<00:19:24.700> proof<00:19:24.880> of<00:19:25.090> liquidity 00:19:25.410 --> 00:19:25.420 align:start position:0% something called a proof of liquidity 00:19:25.420 --> 00:19:27.840 align:start position:0% something called a proof of liquidity community<00:19:25.960> mining<00:19:26.260> process<00:19:26.620> that<00:19:27.430> is<00:19:27.520> to<00:19:27.670> say 00:19:27.840 --> 00:19:27.850 align:start position:0% community mining process that is to say 00:19:27.850 --> 00:19:30.420 align:start position:0% community mining process that is to say we<00:19:28.030> we<00:19:28.330> try<00:19:28.540> to<00:19:28.600> first<00:19:28.930> incentivize<00:19:29.680> a<00:19:29.920> stable 00:19:30.420 --> 00:19:30.430 align:start position:0% we we try to first incentivize a stable 00:19:30.430 --> 00:19:31.890 align:start position:0% we we try to first incentivize a stable and<00:19:30.580> they'll<00:19:30.670> abandon<00:19:30.850> a<00:19:31.090> liquidity<00:19:31.270> pool<00:19:31.660> for 00:19:31.890 --> 00:19:31.900 align:start position:0% and they'll abandon a liquidity pool for 00:19:31.900 --> 00:19:33.750 align:start position:0% and they'll abandon a liquidity pool for this<00:19:32.050> entire<00:19:32.290> network<00:19:32.490> there<00:19:33.490> are<00:19:33.580> some 00:19:33.750 --> 00:19:33.760 align:start position:0% this entire network there are some 00:19:33.760 --> 00:19:35.460 align:start position:0% this entire network there are some recruited<00:19:34.090> backer<00:19:34.270> has<00:19:34.540> some<00:19:34.750> idol<00:19:35.020> equality 00:19:35.460 --> 00:19:35.470 align:start position:0% recruited backer has some idol equality 00:19:35.470 --> 00:19:37.080 align:start position:0% recruited backer has some idol equality and<00:19:35.650> they<00:19:35.740> can<00:19:35.860> just<00:19:36.010> lock<00:19:36.130> it<00:19:36.310> up<00:19:36.400> in<00:19:36.670> the 00:19:37.080 --> 00:19:37.090 align:start position:0% and they can just lock it up in the 00:19:37.090 --> 00:19:40.380 align:start position:0% and they can just lock it up in the setter<00:19:38.050> network<00:19:38.380> and<00:19:38.710> for<00:19:39.160> example<00:19:39.700> some<00:19:39.880> lock 00:19:40.380 --> 00:19:40.390 align:start position:0% setter network and for example some lock 00:19:40.390 --> 00:19:41.790 align:start position:0% setter network and for example some lock up<00:19:40.570> thing<00:19:40.750> is<00:19:40.840> for<00:19:41.110> three<00:19:41.260> years<00:19:41.500> time<00:19:41.710> or 00:19:41.790 --> 00:19:41.800 align:start position:0% up thing is for three years time or 00:19:41.800 --> 00:19:44.880 align:start position:0% up thing is for three years time or alcohol<00:19:42.160> for<00:19:42.370> three<00:19:43.270> years<00:19:43.480> for<00:19:43.630> the<00:19:43.780> 22<00:19:44.680> years 00:19:44.880 --> 00:19:44.890 align:start position:0% alcohol for three years for the 22 years 00:19:44.890 --> 00:19:47.580 align:start position:0% alcohol for three years for the 22 years and<00:19:45.240> their<00:19:46.240> virtual<00:19:46.960> mining<00:19:47.200> power<00:19:47.350> is 00:19:47.580 --> 00:19:47.590 align:start position:0% and their virtual mining power is 00:19:47.590 --> 00:19:48.870 align:start position:0% and their virtual mining power is basically<00:19:47.860> the<00:19:48.040> multiplication<00:19:48.670> of<00:19:48.730> these 00:19:48.870 --> 00:19:48.880 align:start position:0% basically the multiplication of these 00:19:48.880 --> 00:19:50.610 align:start position:0% basically the multiplication of these two<00:19:48.940> and<00:19:49.360> the<00:19:49.660> newly<00:19:49.840> generated<00:19:50.020> instead<00:19:50.530> of 00:19:50.610 --> 00:19:50.620 align:start position:0% two and the newly generated instead of 00:19:50.620 --> 00:19:51.510 align:start position:0% two and the newly generated instead of talking<00:19:50.860> about<00:19:51.010> participated 00:19:51.510 --> 00:19:51.520 align:start position:0% talking about participated 00:19:51.520 --> 00:19:53.430 align:start position:0% talking about participated proportionally<00:19:52.060> according<00:19:52.540> to<00:19:52.660> that<00:19:52.870> now 00:19:53.430 --> 00:19:53.440 align:start position:0% proportionally according to that now 00:19:53.440 --> 00:19:55.890 align:start position:0% proportionally according to that now when<00:19:53.800> someone<00:19:54.640> actually<00:19:54.970> needs<00:19:55.420> liquidity 00:19:55.890 --> 00:19:55.900 align:start position:0% when someone actually needs liquidity 00:19:55.900 --> 00:19:57.300 align:start position:0% when someone actually needs liquidity they<00:19:56.350> were<00:19:56.440> just<00:19:56.650> a<00:19:56.740> start<00:19:57.010> an<00:19:57.130> auction 00:19:57.300 --> 00:19:57.310 align:start position:0% they were just a start an auction 00:19:57.310 --> 00:19:59.430 align:start position:0% they were just a start an auction process<00:19:57.700> and<00:19:58.210> different<00:19:58.870> people<00:19:59.050> will<00:19:59.290> just 00:19:59.430 --> 00:19:59.440 align:start position:0% process and different people will just 00:19:59.440 --> 00:20:01.080 align:start position:0% process and different people will just start<00:19:59.860> with<00:19:59.950> bid<00:20:00.190> in<00:20:00.370> this<00:20:00.580> auction<00:20:00.820> with 00:20:01.080 --> 00:20:01.090 align:start position:0% start with bid in this auction with 00:20:01.090 --> 00:20:02.340 align:start position:0% start with bid in this auction with different<00:20:01.420> kind<00:20:01.690> of 00:20:02.340 --> 00:20:02.350 align:start position:0% different kind of 00:20:02.350 --> 00:20:05.490 align:start position:0% different kind of interest-rate<00:20:02.980> ask<00:20:03.760> and<00:20:04.120> also<00:20:04.720> with 00:20:05.490 --> 00:20:05.500 align:start position:0% interest-rate ask and also with 00:20:05.500 --> 00:20:07.770 align:start position:0% interest-rate ask and also with different<00:20:05.680> a<00:20:06.010> number<00:20:06.580> of<00:20:06.730> sera<00:20:07.000> Tolkien<00:20:07.360> will 00:20:07.770 --> 00:20:07.780 align:start position:0% different a number of sera Tolkien will 00:20:07.780 --> 00:20:10.020 align:start position:0% different a number of sera Tolkien will rank<00:20:08.050> the<00:20:08.170> these<00:20:08.650> bids<00:20:08.950> by<00:20:09.310> interest<00:20:09.880> rate 00:20:10.020 --> 00:20:10.030 align:start position:0% rank the these bids by interest rate 00:20:10.030 --> 00:20:12.330 align:start position:0% rank the these bids by interest rate first<00:20:10.240> and<00:20:10.540> also<00:20:11.080> then<00:20:11.560> by<00:20:11.800> amount<00:20:12.220> of 00:20:12.330 --> 00:20:12.340 align:start position:0% first and also then by amount of 00:20:12.340 --> 00:20:14.340 align:start position:0% first and also then by amount of serotonin<00:20:12.700> so<00:20:12.940> Sarah<00:20:13.120> talking<00:20:13.330> here<00:20:13.720> in<00:20:14.080> this 00:20:14.340 --> 00:20:14.350 align:start position:0% serotonin so Sarah talking here in this 00:20:14.350 --> 00:20:16.860 align:start position:0% serotonin so Sarah talking here in this process<00:20:14.770> also<00:20:15.220> act<00:20:15.430> as<00:20:15.640> kind<00:20:15.940> of<00:20:16.030> a<00:20:16.150> frequent 00:20:16.860 --> 00:20:16.870 align:start position:0% process also act as kind of a frequent 00:20:16.870 --> 00:20:19.860 align:start position:0% process also act as kind of a frequent flyer<00:20:17.080> mileage<00:20:18.150> token<00:20:19.150> kind<00:20:19.330> of<00:20:19.390> thing<00:20:19.600> and 00:20:19.860 --> 00:20:19.870 align:start position:0% flyer mileage token kind of thing and 00:20:19.870 --> 00:20:22.080 align:start position:0% flyer mileage token kind of thing and for<00:20:20.530> example<00:20:20.710> this<00:20:20.980> guy<00:20:21.160> will<00:20:21.340> finally<00:20:21.970> win 00:20:22.080 --> 00:20:22.090 align:start position:0% for example this guy will finally win 00:20:22.090 --> 00:20:23.940 align:start position:0% for example this guy will finally win the<00:20:22.240> bid<00:20:22.420> and<00:20:22.540> this<00:20:22.990> entire<00:20:23.350> bidding<00:20:23.620> process 00:20:23.940 --> 00:20:23.950 align:start position:0% the bid and this entire bidding process 00:20:23.950 --> 00:20:26.250 align:start position:0% the bid and this entire bidding process will<00:20:24.160> be<00:20:24.250> a<00:20:24.280> second<00:20:24.580> price<00:20:24.790> auction<00:20:25.240> to<00:20:25.990> get 00:20:26.250 --> 00:20:26.260 align:start position:0% will be a second price auction to get 00:20:26.260 --> 00:20:28.050 align:start position:0% will be a second price auction to get enough<00:20:26.890> liquidity<00:20:27.100> for<00:20:27.550> this<00:20:27.730> offering 00:20:28.050 --> 00:20:28.060 align:start position:0% enough liquidity for this offering 00:20:28.060 --> 00:20:29.910 align:start position:0% enough liquidity for this offering service<00:20:28.390> provider<00:20:28.780> to<00:20:29.020> wrong<00:20:29.200> and<00:20:29.560> there<00:20:29.740> are 00:20:29.910 --> 00:20:29.920 align:start position:0% service provider to wrong and there are 00:20:29.920 --> 00:20:31.650 align:start position:0% service provider to wrong and there are tons<00:20:30.070> of<00:20:30.250> details<00:20:30.640> on<00:20:30.790> how<00:20:30.910> to<00:20:30.970> ensure 00:20:31.650 --> 00:20:31.660 align:start position:0% tons of details on how to ensure 00:20:31.660 --> 00:20:33.660 align:start position:0% tons of details on how to ensure security<00:20:32.320> or<00:20:32.410> enhance<00:20:32.830> the<00:20:32.920> security<00:20:33.220> of<00:20:33.400> this 00:20:33.660 --> 00:20:33.670 align:start position:0% security or enhance the security of this 00:20:33.670 --> 00:20:38.370 align:start position:0% security or enhance the security of this which<00:20:34.300> I<00:20:34.420> am<00:20:34.450> NOT<00:20:34.630> going<00:20:34.900> into<00:20:35.370> today<00:20:36.780> now<00:20:37.780> we 00:20:38.370 --> 00:20:38.380 align:start position:0% which I am NOT going into today now we 00:20:38.380 --> 00:20:39.750 align:start position:0% which I am NOT going into today now we have<00:20:38.590> the<00:20:38.770> proof<00:20:39.010> of<00:20:39.130> liquidity<00:20:39.370> committee 00:20:39.750 --> 00:20:39.760 align:start position:0% have the proof of liquidity committee 00:20:39.760 --> 00:20:41.730 align:start position:0% have the proof of liquidity committee mining<00:20:40.090> basically<00:20:40.480> my<00:20:40.720> seller<00:20:41.230> token<00:20:41.620> by 00:20:41.730 --> 00:20:41.740 align:start position:0% mining basically my seller token by 00:20:41.740 --> 00:20:43.710 align:start position:0% mining basically my seller token by locking<00:20:42.370> idle<00:20:42.640> liquidity<00:20:43.090> in<00:20:43.150> the<00:20:43.240> option 00:20:43.710 --> 00:20:43.720 align:start position:0% locking idle liquidity in the option 00:20:43.720 --> 00:20:45.810 align:start position:0% locking idle liquidity in the option platform<00:20:44.140> and<00:20:44.470> incentivize<00:20:45.100> an<00:20:45.310> abundance 00:20:45.810 --> 00:20:45.820 align:start position:0% platform and incentivize an abundance 00:20:45.820 --> 00:20:47.550 align:start position:0% platform and incentivize an abundance they<00:20:45.940> pour<00:20:46.090> liquid<00:20:46.330> at<00:20:46.420> the<00:20:46.480> pool<00:20:46.660> and<00:20:47.020> also 00:20:47.550 --> 00:20:47.560 align:start position:0% they pour liquid at the pool and also 00:20:47.560 --> 00:20:49.110 align:start position:0% they pour liquid at the pool and also this<00:20:47.800> is<00:20:47.950> created<00:20:48.190> Viking<00:20:48.550> auction<00:20:48.940> to 00:20:49.110 --> 00:20:49.120 align:start position:0% this is created Viking auction to 00:20:49.120 --> 00:20:53.310 align:start position:0% this is created Viking auction to actually<00:20:49.480> finish<00:20:49.900> this<00:20:50.050> process<00:20:50.370> so<00:20:51.870> again<00:20:52.870> we 00:20:53.310 --> 00:20:53.320 align:start position:0% actually finish this process so again we 00:20:53.320 --> 00:20:55.320 align:start position:0% actually finish this process so again we have<00:20:53.590> the<00:20:53.860> seller<00:20:54.100> water<00:20:54.400> running<00:20:54.670> feel<00:20:55.150> free 00:20:55.320 --> 00:20:55.330 align:start position:0% have the seller water running feel free 00:20:55.330 --> 00:20:59.490 align:start position:0% have the seller water running feel free to<00:20:55.390> download<00:20:55.720> it<00:20:56.170> cat<00:20:56.500> cat<00:20:57.280> cat<00:20:57.870> app<00:20:58.870> but 00:20:59.490 --> 00:20:59.500 align:start position:0% to download it cat cat cat app but 00:20:59.500 --> 00:21:02.640 align:start position:0% to download it cat cat cat app but before<00:21:00.280> my<00:21:00.580> talk<00:21:00.640> and<00:21:01.120> I<00:21:01.630> just<00:21:01.960> want<00:21:02.350> to<00:21:02.470> also 00:21:02.640 --> 00:21:02.650 align:start position:0% before my talk and I just want to also 00:21:02.650 --> 00:21:05.400 align:start position:0% before my talk and I just want to also throw<00:21:03.070> a<00:21:03.100> quick<00:21:03.430> vision<00:21:03.880> of<00:21:04.080> what<00:21:05.080> we<00:21:05.230> call 00:21:05.400 --> 00:21:05.410 align:start position:0% throw a quick vision of what we call 00:21:05.410 --> 00:21:08.910 align:start position:0% throw a quick vision of what we call seller<00:21:05.680> network<00:21:06.010> 2.0<00:21:06.580> we<00:21:07.450> have<00:21:07.810> seen<00:21:08.140> a<00:21:08.170> lot<00:21:08.890> of 00:21:08.910 --> 00:21:08.920 align:start position:0% seller network 2.0 we have seen a lot of 00:21:08.920 --> 00:21:12.090 align:start position:0% seller network 2.0 we have seen a lot of like<00:21:09.220> these<00:21:10.120> things<00:21:10.420> popping<00:21:10.780> up<00:21:10.810> of<00:21:11.560> arching 00:21:12.090 --> 00:21:12.100 align:start position:0% like these things popping up of arching 00:21:12.100 --> 00:21:13.770 align:start position:0% like these things popping up of arching scaling<00:21:12.520> technologies<00:21:13.120> right<00:21:13.330> so<00:21:13.480> we<00:21:13.570> have<00:21:13.750> a 00:21:13.770 --> 00:21:13.780 align:start position:0% scaling technologies right so we have a 00:21:13.780 --> 00:21:16.040 align:start position:0% scaling technologies right so we have a state<00:21:14.590> channel<00:21:14.890> we<00:21:14.950> have<00:21:15.070> plasma<00:21:15.370> we<00:21:15.790> have<00:21:15.940> a 00:21:16.040 --> 00:21:16.050 align:start position:0% state channel we have plasma we have a 00:21:16.050 --> 00:21:18.360 align:start position:0% state channel we have plasma we have a sizing<00:21:17.050> which<00:21:17.200> is<00:21:17.320> not<00:21:17.470> quite<00:21:17.680> plasma<00:21:18.190> like 00:21:18.360 --> 00:21:18.370 align:start position:0% sizing which is not quite plasma like 00:21:18.370 --> 00:21:20.700 align:start position:0% sizing which is not quite plasma like state<00:21:19.210> channel<00:21:19.570> state<00:21:19.930> Guardian<00:21:20.200> network<00:21:20.500> and 00:21:20.700 --> 00:21:20.710 align:start position:0% state channel state Guardian network and 00:21:20.710 --> 00:21:23.370 align:start position:0% state channel state Guardian network and also<00:21:20.920> we<00:21:21.130> have<00:21:21.340> troupis<00:21:22.330> like<00:21:22.540> interactive 00:21:23.370 --> 00:21:23.380 align:start position:0% also we have troupis like interactive 00:21:23.380 --> 00:21:27.120 align:start position:0% also we have troupis like interactive computing<00:21:23.860> protocols<00:21:24.870> so<00:21:25.870> each<00:21:26.530> of<00:21:26.830> the<00:21:26.950> team 00:21:27.120 --> 00:21:27.130 align:start position:0% computing protocols so each of the team 00:21:27.130 --> 00:21:28.650 align:start position:0% computing protocols so each of the team is<00:21:27.280> kind<00:21:27.460> of<00:21:27.550> a<00:21:27.610> working<00:21:27.910> separately<00:21:28.240> in 00:21:28.650 --> 00:21:28.660 align:start position:0% is kind of a working separately in 00:21:28.660 --> 00:21:30.630 align:start position:0% is kind of a working separately in different<00:21:28.690> domains<00:21:29.380> what<00:21:30.100> we<00:21:30.250> think<00:21:30.490> is<00:21:30.610> that 00:21:30.630 --> 00:21:30.640 align:start position:0% different domains what we think is that 00:21:30.640 --> 00:21:34.200 align:start position:0% different domains what we think is that often<00:21:31.240> scaling<00:21:31.680> solutions<00:21:32.680> are<00:21:32.890> sharing<00:21:33.580> you 00:21:34.200 --> 00:21:34.210 align:start position:0% often scaling solutions are sharing you 00:21:34.210 --> 00:21:35.850 align:start position:0% often scaling solutions are sharing you know<00:21:34.300> high<00:21:34.780> level<00:21:35.020> similar<00:21:35.500> high<00:21:35.650> level 00:21:35.850 --> 00:21:35.860 align:start position:0% know high level similar high level 00:21:35.860 --> 00:21:38.160 align:start position:0% know high level similar high level philosophies<00:21:36.310> and<00:21:36.490> they<00:21:36.910> can<00:21:37.240> be<00:21:37.420> combined<00:21:37.930> as 00:21:38.160 --> 00:21:38.170 align:start position:0% philosophies and they can be combined as 00:21:38.170 --> 00:21:40.890 align:start position:0% philosophies and they can be combined as a<00:21:38.440> coherent<00:21:39.070> solution<00:21:39.550> as<00:21:39.910> where<00:21:40.540> we<00:21:40.690> are 00:21:40.890 --> 00:21:40.900 align:start position:0% a coherent solution as where we are 00:21:40.900 --> 00:21:43.680 align:start position:0% a coherent solution as where we are already<00:21:41.170> starting<00:21:41.740> to<00:21:41.770> see<00:21:42.130> in<00:21:43.060> the<00:21:43.330> Saturn<00:21:43.570> as 00:21:43.680 --> 00:21:43.690 align:start position:0% already starting to see in the Saturn as 00:21:43.690 --> 00:21:46.440 align:start position:0% already starting to see in the Saturn as well<00:21:43.840> as<00:21:43.900> constructor<00:21:44.500> we<00:21:44.620> use<00:21:44.890> the<00:21:45.580> sizing<00:21:46.060> as 00:21:46.440 --> 00:21:46.450 align:start position:0% well as constructor we use the sizing as 00:21:46.450 --> 00:21:48.150 align:start position:0% well as constructor we use the sizing as kind<00:21:46.750> of<00:21:46.810> a<00:21:46.900> part<00:21:47.050> of<00:21:47.200> the<00:21:47.440> crypto<00:21:47.740> economic 00:21:48.150 --> 00:21:48.160 align:start position:0% kind of a part of the crypto economic 00:21:48.160 --> 00:21:52.530 align:start position:0% kind of a part of the crypto economic construct<00:21:48.840> so<00:21:49.840> that<00:21:50.680> ends<00:21:51.010> my<00:21:51.100> talk<00:21:51.340> we<00:21:52.030> have<00:21:52.330> a 00:21:52.530 --> 00:21:52.540 align:start position:0% construct so that ends my talk we have a 00:21:52.540 --> 00:21:55.860 align:start position:0% construct so that ends my talk we have a you<00:21:53.440> know<00:21:53.560> a<00:21:53.590> very<00:21:54.160> good<00:21:54.250> team<00:21:54.610> of<00:21:54.870> researchers 00:21:55.860 --> 00:21:55.870 align:start position:0% you know a very good team of researchers 00:21:55.870 --> 00:21:58.560 align:start position:0% you know a very good team of researchers designers<00:21:56.620> and<00:21:56.830> also<00:21:57.190> engineers<00:21:57.790> on<00:21:58.240> board 00:21:58.560 --> 00:21:58.570 align:start position:0% designers and also engineers on board 00:21:58.570 --> 00:22:01.230 align:start position:0% designers and also engineers on board and<00:21:59.010> we<00:22:00.010> are<00:22:00.040> always<00:22:00.250> hiring<00:22:00.520> feel<00:22:01.060> free<00:22:01.210> to 00:22:01.230 --> 00:22:01.240 align:start position:0% and we are always hiring feel free to 00:22:01.240 --> 00:22:04.200 align:start position:0% and we are always hiring feel free to send<00:22:01.770> email<00:22:02.770> to<00:22:02.920> hiring<00:22:03.160> at<00:22:03.370> Saturn<00:22:03.730> at<00:22:04.060> work 00:22:04.200 --> 00:22:04.210 align:start position:0% send email to hiring at Saturn at work 00:22:04.210 --> 00:22:06.090 align:start position:0% send email to hiring at Saturn at work and<00:22:04.390> it<00:22:04.810> will<00:22:04.930> go<00:22:05.080> directly<00:22:05.260> to<00:22:05.590> my<00:22:05.680> mailbox 00:22:06.090 --> 00:22:06.100 align:start position:0% and it will go directly to my mailbox 00:22:06.100 --> 00:22:08.910 align:start position:0% and it will go directly to my mailbox basically<00:22:06.700> all<00:22:07.210> right<00:22:07.530> okay<00:22:08.620> thank<00:22:08.770> you<00:22:08.830> very 00:22:08.910 --> 00:22:08.920 align:start position:0% basically all right okay thank you very 00:22:08.920 --> 00:22:10.390 align:start position:0% basically all right okay thank you very much 00:22:10.390 --> 00:22:10.400 align:start position:0% much 00:22:10.400 --> 00:22:19.840 align:start position:0% much oh<00:22:18.309> yeah 00:22:19.840 --> 00:22:19.850 align:start position:0% oh yeah 00:22:19.850 --> 00:22:32.350 align:start position:0% oh yeah any<00:22:20.360> questions<00:22:20.780> yes<00:22:22.000> yeah<00:22:23.000> so<00:22:30.940> I<00:22:31.940> have<00:22:32.210> two 00:22:32.350 --> 00:22:32.360 align:start position:0% any questions yes yeah so I have two 00:22:32.360 --> 00:22:35.170 align:start position:0% any questions yes yeah so I have two questions<00:22:32.540> first<00:22:33.020> you<00:22:33.350> you<00:22:34.100> have<00:22:34.280> implemented 00:22:35.170 --> 00:22:35.180 align:start position:0% questions first you you have implemented 00:22:35.180 --> 00:22:39.970 align:start position:0% questions first you you have implemented an<00:22:35.450> EVM<00:22:35.930> here<00:22:36.460> in<00:22:37.460> your<00:22:38.330> platform<00:22:38.960> I<00:22:39.440> saw<00:22:39.800> it<00:22:39.860> in 00:22:39.970 --> 00:22:39.980 align:start position:0% an EVM here in your platform I saw it in 00:22:39.980 --> 00:22:41.730 align:start position:0% an EVM here in your platform I saw it in the<00:22:40.040> white<00:22:40.190> paper<00:22:40.370> is<00:22:40.580> that<00:22:40.730> still<00:22:41.630> happening 00:22:41.730 --> 00:22:41.740 align:start position:0% the white paper is that still happening 00:22:41.740 --> 00:22:44.950 align:start position:0% the white paper is that still happening yes<00:22:42.740> that<00:22:43.220> is<00:22:43.340> in<00:22:43.550> the<00:22:43.670> in<00:22:43.880> the<00:22:43.970> process<00:22:44.179> you 00:22:44.950 --> 00:22:44.960 align:start position:0% yes that is in the in the process you 00:22:44.960 --> 00:22:46.750 align:start position:0% yes that is in the in the process you know<00:22:45.020> we're<00:22:45.170> thinking<00:22:45.530> about<00:22:45.650> doing<00:22:45.890> you<00:22:46.670> know 00:22:46.750 --> 00:22:46.760 align:start position:0% know we're thinking about doing you know 00:22:46.760 --> 00:22:48.100 align:start position:0% know we're thinking about doing you know you<00:22:46.940> awesome<00:22:47.270> actually 00:22:48.100 --> 00:22:48.110 align:start position:0% you awesome actually 00:22:48.110 --> 00:22:50.880 align:start position:0% you awesome actually it's<00:22:48.860> okay<00:22:49.280> so<00:22:49.340> the<00:22:49.610> UVM<00:22:49.910> party<00:22:50.270> is<00:22:50.330> basically 00:22:50.880 --> 00:22:50.890 align:start position:0% it's okay so the UVM party is basically 00:22:50.890 --> 00:22:53.980 align:start position:0% it's okay so the UVM party is basically how<00:22:51.890> can<00:22:52.100> we<00:22:52.220> make<00:22:52.460> one<00:22:53.059> set<00:22:53.330> of<00:22:53.450> coding<00:22:53.809> sort 00:22:53.980 --> 00:22:53.990 align:start position:0% how can we make one set of coding sort 00:22:53.990 --> 00:22:55.150 align:start position:0% how can we make one set of coding sort of<00:22:54.050> to<00:22:54.200> a<00:22:54.230> set<00:22:54.440> of<00:22:54.470> code<00:22:54.679> for<00:22:54.860> offering 00:22:55.150 --> 00:22:55.160 align:start position:0% of to a set of code for offering 00:22:55.160 --> 00:22:58.270 align:start position:0% of to a set of code for offering applications<00:22:56.230> we<00:22:57.230> the<00:22:57.679> reason<00:22:58.010> that<00:22:58.070> we<00:22:58.250> are 00:22:58.270 --> 00:22:58.280 align:start position:0% applications we the reason that we are 00:22:58.280 --> 00:23:00.820 align:start position:0% applications we the reason that we are doing<00:22:58.550> a<00:22:59.090> VM<00:22:59.600> inside<00:23:00.140> of<00:23:00.260> like<00:23:00.590> the<00:23:00.679> mobile 00:23:00.820 --> 00:23:00.830 align:start position:0% doing a VM inside of like the mobile 00:23:00.830 --> 00:23:03.250 align:start position:0% doing a VM inside of like the mobile devices<00:23:01.280> you<00:23:01.910> can<00:23:02.059> really<00:23:02.420> innovative<00:23:03.140> us 00:23:03.250 --> 00:23:03.260 align:start position:0% devices you can really innovative us 00:23:03.260 --> 00:23:05.410 align:start position:0% devices you can really innovative us today<00:23:03.890> but<00:23:04.250> what's<00:23:04.490> a<00:23:04.550> challenging<00:23:05.030> part<00:23:05.270> is 00:23:05.410 --> 00:23:05.420 align:start position:0% today but what's a challenging part is 00:23:05.420 --> 00:23:08.169 align:start position:0% today but what's a challenging part is to<00:23:05.660> use<00:23:05.929> that<00:23:06.350> EVM<00:23:06.770> as<00:23:07.010> a<00:23:07.070> back-end<00:23:07.460> for<00:23:08.000> all 00:23:08.169 --> 00:23:08.179 align:start position:0% to use that EVM as a back-end for all 00:23:08.179 --> 00:23:09.610 align:start position:0% to use that EVM as a back-end for all the<00:23:08.390> front-end<00:23:08.720> the<00:23:08.870> interactions<00:23:09.320> for<00:23:09.559> the 00:23:09.610 --> 00:23:09.620 align:start position:0% the front-end the interactions for the 00:23:09.620 --> 00:23:11.230 align:start position:0% the front-end the interactions for the mobile<00:23:09.890> platform<00:23:10.460> right<00:23:10.820> so<00:23:10.910> basically<00:23:11.120> we 00:23:11.230 --> 00:23:11.240 align:start position:0% mobile platform right so basically we 00:23:11.240 --> 00:23:13.240 align:start position:0% mobile platform right so basically we click<00:23:11.450> a<00:23:11.480> button<00:23:11.660> it<00:23:11.990> talks<00:23:12.380> to<00:23:12.530> not<00:23:12.740> the<00:23:12.980> Java 00:23:13.240 --> 00:23:13.250 align:start position:0% click a button it talks to not the Java 00:23:13.250 --> 00:23:15.850 align:start position:0% click a button it talks to not the Java code<00:23:13.460> but<00:23:13.760> actually<00:23:14.179> the<00:23:14.270> VM<00:23:14.630> code<00:23:14.870> so<00:23:15.590> that's 00:23:15.850 --> 00:23:15.860 align:start position:0% code but actually the VM code so that's 00:23:15.860 --> 00:23:18.460 align:start position:0% code but actually the VM code so that's kind<00:23:16.160> of<00:23:16.220> like<00:23:16.309> the<00:23:16.520> processor<00:23:16.910> we're<00:23:17.570> doing 00:23:18.460 --> 00:23:18.470 align:start position:0% kind of like the processor we're doing 00:23:18.470 --> 00:23:22.230 align:start position:0% kind of like the processor we're doing and<00:23:18.650> that's<00:23:18.920> so<00:23:19.160> in<00:23:19.309> progress<00:23:19.550> yes<00:23:19.910> okay<00:23:20.420> so 00:23:22.230 --> 00:23:22.240 align:start position:0% and that's so in progress yes okay so 00:23:22.240 --> 00:23:25.630 align:start position:0% and that's so in progress yes okay so you're<00:23:23.240> not<00:23:23.600> gonna<00:23:23.870> implement<00:23:24.350> a<00:23:24.650> VM<00:23:24.890> in<00:23:25.190> the 00:23:25.630 --> 00:23:25.640 align:start position:0% you're not gonna implement a VM in the 00:23:25.640 --> 00:23:28.120 align:start position:0% you're not gonna implement a VM in the near<00:23:25.790> future<00:23:25.970> or<00:23:26.620> you<00:23:27.620> are<00:23:27.830> going<00:23:28.040> to 00:23:28.120 --> 00:23:28.130 align:start position:0% near future or you are going to 00:23:28.130 --> 00:23:32.590 align:start position:0% near future or you are going to implement<00:23:28.550> EVM<00:23:29.090> in<00:23:29.210> the<00:23:29.270> future<00:23:29.590> so<00:23:31.570> okay<00:23:32.570> so 00:23:32.590 --> 00:23:32.600 align:start position:0% implement EVM in the future so okay so 00:23:32.600 --> 00:23:35.080 align:start position:0% implement EVM in the future so okay so let<00:23:32.929> me<00:23:32.960> just<00:23:33.170> clarify<00:23:33.380> that<00:23:33.650> it<00:23:34.280> has<00:23:34.580> it<00:23:35.030> has 00:23:35.080 --> 00:23:35.090 align:start position:0% let me just clarify that it has it has 00:23:35.090 --> 00:23:37.990 align:start position:0% let me just clarify that it has it has the<00:23:35.480> capability<00:23:36.140> to<00:23:36.220> wrong<00:23:37.220> generates<00:23:37.820> the 00:23:37.990 --> 00:23:38.000 align:start position:0% the capability to wrong generates the 00:23:38.000 --> 00:23:39.850 align:start position:0% the capability to wrong generates the state<00:23:38.210> channel<00:23:38.540> applications<00:23:39.140> implemented<00:23:39.770> a 00:23:39.850 --> 00:23:39.860 align:start position:0% state channel applications implemented a 00:23:39.860 --> 00:23:43.990 align:start position:0% state channel applications implemented a as<00:23:40.040> a<00:23:40.100> EVM<00:23:41.410> so<00:23:42.410> we<00:23:43.220> are<00:23:43.280> in<00:23:43.429> the<00:23:43.550> process<00:23:43.730> of 00:23:43.990 --> 00:23:44.000 align:start position:0% as a EVM so we are in the process of 00:23:44.000 --> 00:23:46.600 align:start position:0% as a EVM so we are in the process of like<00:23:44.210> combining<00:23:44.570> these<00:23:45.080> two<00:23:45.380> things<00:23:45.679> together 00:23:46.600 --> 00:23:46.610 align:start position:0% like combining these two things together 00:23:46.610 --> 00:23:48.760 align:start position:0% like combining these two things together basically<00:23:47.179> the<00:23:47.270> mobile<00:23:47.570> platform<00:23:48.020> or<00:23:48.140> a<00:23:48.170> user 00:23:48.760 --> 00:23:48.770 align:start position:0% basically the mobile platform or a user 00:23:48.770 --> 00:23:52.860 align:start position:0% basically the mobile platform or a user client<00:23:48.950> part<00:23:49.370> and<00:23:50.030> also<00:23:50.420> the<00:23:50.540> EVM<00:23:50.809> so<00:23:51.170> yeah 00:23:52.860 --> 00:23:52.870 align:start position:0% client part and also the EVM so yeah 00:23:52.870 --> 00:23:54.010 align:start position:0% client part and also the EVM so yeah okay 00:23:54.010 --> 00:23:54.020 align:start position:0% okay 00:23:54.020 --> 00:23:56.980 align:start position:0% okay all<00:23:54.440> right<00:23:54.559> thank<00:23:54.950> you