WEBVTT Kind: captions Language: en 00:00:09.190 --> 00:00:15.270 align:start position:0% [Music] 00:00:15.270 --> 00:00:15.280 align:start position:0% [Music] 00:00:15.280 --> 00:00:20.950 align:start position:0% [Music] hello<00:00:16.280> everyone<00:00:16.640> so<00:00:18.790> today<00:00:19.790> I'm<00:00:20.630> gonna<00:00:20.750> be 00:00:20.950 --> 00:00:20.960 align:start position:0% hello everyone so today I'm gonna be 00:00:20.960 --> 00:00:22.360 align:start position:0% hello everyone so today I'm gonna be announcing<00:00:21.470> and<00:00:21.650> releasing<00:00:22.010> a<00:00:22.070> new<00:00:22.160> project 00:00:22.360 --> 00:00:22.370 align:start position:0% announcing and releasing a new project 00:00:22.370 --> 00:00:25.480 align:start position:0% announcing and releasing a new project we<00:00:22.730> have<00:00:22.910> at<00:00:23.150> IC<00:00:23.540> 3<00:00:23.720> IC<00:00:24.530> 3<00:00:24.770> is<00:00:24.890> sort<00:00:25.100> of<00:00:25.160> a<00:00:25.250> cross 00:00:25.480 --> 00:00:25.490 align:start position:0% we have at IC 3 IC 3 is sort of a cross 00:00:25.490 --> 00:00:27.400 align:start position:0% we have at IC 3 IC 3 is sort of a cross university<00:00:26.090> initiative<00:00:26.360> for<00:00:26.780> experimental 00:00:27.400 --> 00:00:27.410 align:start position:0% university initiative for experimental 00:00:27.410 --> 00:00:29.710 align:start position:0% university initiative for experimental blockchain<00:00:27.830> research<00:00:28.190> and<00:00:28.310> systems<00:00:28.670> this<00:00:29.660> is 00:00:29.710 --> 00:00:29.720 align:start position:0% blockchain research and systems this is 00:00:29.720 --> 00:00:31.720 align:start position:0% blockchain research and systems this is joint<00:00:30.080> work<00:00:30.170> with<00:00:30.380> Florian<00:00:31.100> Trevor<00:00:31.460> from 00:00:31.720 --> 00:00:31.730 align:start position:0% joint work with Florian Trevor from 00:00:31.730 --> 00:00:34.240 align:start position:0% joint work with Florian Trevor from Stanford<00:00:32.180> and<00:00:32.289> Lauren's<00:00:33.289> Breidenbach<00:00:33.710> from 00:00:34.240 --> 00:00:34.250 align:start position:0% Stanford and Lauren's Breidenbach from 00:00:34.250 --> 00:00:37.510 align:start position:0% Stanford and Lauren's Breidenbach from ETH<00:00:34.670> Zurich<00:00:35.030> Cornell<00:00:35.510> Tech<00:00:35.720> and<00:00:35.930> IC<00:00:36.260> 3<00:00:36.410> as<00:00:37.340> well 00:00:37.510 --> 00:00:37.520 align:start position:0% ETH Zurich Cornell Tech and IC 3 as well 00:00:37.520 --> 00:00:40.300 align:start position:0% ETH Zurich Cornell Tech and IC 3 as well as<00:00:37.670> myself<00:00:37.850> and<00:00:38.390> my<00:00:38.570> advisor<00:00:38.870> Ari<00:00:39.230> Jules<00:00:39.560> also 00:00:40.300 --> 00:00:40.310 align:start position:0% as myself and my advisor Ari Jules also 00:00:40.310 --> 00:00:43.150 align:start position:0% as myself and my advisor Ari Jules also from<00:00:40.520> Cornell<00:00:40.820> Tech<00:00:41.000> and<00:00:41.120> IC<00:00:41.390> 3<00:00:41.800> all<00:00:42.800> right<00:00:42.860> so 00:00:43.150 --> 00:00:43.160 align:start position:0% from Cornell Tech and IC 3 all right so 00:00:43.160 --> 00:00:44.979 align:start position:0% from Cornell Tech and IC 3 all right so just<00:00:43.340> a<00:00:43.430> brief<00:00:43.550> reminder<00:00:43.880> last<00:00:44.570> year<00:00:44.720> I<00:00:44.750> gave<00:00:44.960> a 00:00:44.979 --> 00:00:44.989 align:start position:0% just a brief reminder last year I gave a 00:00:44.989 --> 00:00:46.479 align:start position:0% just a brief reminder last year I gave a talk<00:00:45.050> in<00:00:45.350> Def<00:00:45.500> Con<00:00:45.680> on<00:00:45.710> smart<00:00:46.100> contract 00:00:46.479 --> 00:00:46.489 align:start position:0% talk in Def Con on smart contract 00:00:46.489 --> 00:00:48.100 align:start position:0% talk in Def Con on smart contract security<00:00:46.880> and<00:00:47.000> we<00:00:47.090> talked<00:00:47.329> about<00:00:47.480> how<00:00:47.720> we<00:00:47.780> sort 00:00:48.100 --> 00:00:48.110 align:start position:0% security and we talked about how we sort 00:00:48.110 --> 00:00:50.170 align:start position:0% security and we talked about how we sort of<00:00:48.200> view<00:00:48.320> this<00:00:48.440> problem<00:00:48.770> at<00:00:48.860> IC<00:00:49.130> 3<00:00:49.370> as<00:00:49.520> having 00:00:50.170 --> 00:00:50.180 align:start position:0% of view this problem at IC 3 as having 00:00:50.180 --> 00:00:51.639 align:start position:0% of view this problem at IC 3 as having these<00:00:50.329> three<00:00:50.540> different<00:00:50.690> prongs<00:00:51.050> of<00:00:51.320> formal 00:00:51.639 --> 00:00:51.649 align:start position:0% these three different prongs of formal 00:00:51.649 --> 00:00:53.920 align:start position:0% these three different prongs of formal verification<00:00:51.800> and<00:00:52.430> specification<00:00:53.180> so<00:00:53.750> how<00:00:53.870> do 00:00:53.920 --> 00:00:53.930 align:start position:0% verification and specification so how do 00:00:53.930 --> 00:00:55.210 align:start position:0% verification and specification so how do we<00:00:54.050> know<00:00:54.230> what<00:00:54.410> we<00:00:54.500> are<00:00:54.530> building<00:00:54.920> and<00:00:55.070> how<00:00:55.160> can 00:00:55.210 --> 00:00:55.220 align:start position:0% we know what we are building and how can 00:00:55.220 --> 00:00:57.760 align:start position:0% we know what we are building and how can we<00:00:55.430> check<00:00:55.579> it<00:00:55.870> escape<00:00:56.870> hatches<00:00:57.079> how<00:00:57.559> do<00:00:57.620> we 00:00:57.760 --> 00:00:57.770 align:start position:0% we check it escape hatches how do we 00:00:57.770 --> 00:00:59.229 align:start position:0% we check it escape hatches how do we recover<00:00:58.040> when<00:00:58.340> something<00:00:58.670> goes<00:00:58.790> badly<00:00:59.059> wrong 00:00:59.229 --> 00:00:59.239 align:start position:0% recover when something goes badly wrong 00:00:59.239 --> 00:01:01.750 align:start position:0% recover when something goes badly wrong with<00:00:59.540> the<00:00:59.630> contract<00:01:00.079> and<00:01:00.860> bug<00:01:01.130> bounties<00:01:01.550> so 00:01:01.750 --> 00:01:01.760 align:start position:0% with the contract and bug bounties so 00:01:01.760 --> 00:01:02.979 align:start position:0% with the contract and bug bounties so how<00:01:01.880> can<00:01:02.059> we<00:01:02.180> address<00:01:02.390> these<00:01:02.630> perverse 00:01:02.979 --> 00:01:02.989 align:start position:0% how can we address these perverse 00:01:02.989 --> 00:01:05.020 align:start position:0% how can we address these perverse incentives<00:01:03.530> where<00:01:03.890> people<00:01:04.309> in<00:01:04.430> the<00:01:04.519> ecosystem 00:01:05.020 --> 00:01:05.030 align:start position:0% incentives where people in the ecosystem 00:01:05.030 --> 00:01:06.520 align:start position:0% incentives where people in the ecosystem are<00:01:05.149> incentivized<00:01:05.630> to<00:01:05.810> attack<00:01:06.110> and<00:01:06.350> steal 00:01:06.520 --> 00:01:06.530 align:start position:0% are incentivized to attack and steal 00:01:06.530 --> 00:01:08.620 align:start position:0% are incentivized to attack and steal money<00:01:06.740> rather<00:01:07.610> than<00:01:07.729> honestly<00:01:08.299> report 00:01:08.620 --> 00:01:08.630 align:start position:0% money rather than honestly report 00:01:08.630 --> 00:01:10.390 align:start position:0% money rather than honestly report vulnerabilities<00:01:08.830> so<00:01:09.830> for<00:01:10.100> some<00:01:10.250> general 00:01:10.390 --> 00:01:10.400 align:start position:0% vulnerabilities so for some general 00:01:10.400 --> 00:01:12.039 align:start position:0% vulnerabilities so for some general security<00:01:10.940> background<00:01:11.330> I<00:01:11.420> highly<00:01:11.690> recommend 00:01:12.039 --> 00:01:12.049 align:start position:0% security background I highly recommend 00:01:12.049 --> 00:01:14.740 align:start position:0% security background I highly recommend checking<00:01:12.229> that<00:01:12.380> talk<00:01:12.680> out<00:01:13.120> all<00:01:14.120> right<00:01:14.299> umm<00:01:14.450> so 00:01:14.740 --> 00:01:14.750 align:start position:0% checking that talk out all right umm so 00:01:14.750 --> 00:01:16.330 align:start position:0% checking that talk out all right umm so there's<00:01:14.900> some<00:01:15.110> new<00:01:15.290> promise<00:01:15.710> in<00:01:15.830> the<00:01:15.920> space<00:01:16.130> in 00:01:16.330 --> 00:01:16.340 align:start position:0% there's some new promise in the space in 00:01:16.340 --> 00:01:18.160 align:start position:0% there's some new promise in the space in the<00:01:16.430> last<00:01:16.549> few<00:01:16.820> years<00:01:16.880> you<00:01:17.600> can<00:01:17.750> see<00:01:17.900> sort<00:01:18.080> of 00:01:18.160 --> 00:01:18.170 align:start position:0% the last few years you can see sort of 00:01:18.170 --> 00:01:20.770 align:start position:0% the last few years you can see sort of this<00:01:18.320> Google<00:01:18.619> Trends<00:01:18.890> graph<00:01:19.100> and<00:01:19.850> this<00:01:20.270> is<00:01:20.479> for 00:01:20.770 --> 00:01:20.780 align:start position:0% this Google Trends graph and this is for 00:01:20.780 --> 00:01:23.050 align:start position:0% this Google Trends graph and this is for this<00:01:21.200> new<00:01:21.440> concept<00:01:21.830> called<00:01:21.950> crypto<00:01:22.460> economics 00:01:23.050 --> 00:01:23.060 align:start position:0% this new concept called crypto economics 00:01:23.060 --> 00:01:25.539 align:start position:0% this new concept called crypto economics so<00:01:24.020> what<00:01:24.200> is<00:01:24.320> crypto<00:01:24.619> economics<00:01:25.190> crypto 00:01:25.539 --> 00:01:25.549 align:start position:0% so what is crypto economics crypto 00:01:25.549 --> 00:01:27.039 align:start position:0% so what is crypto economics crypto economics<00:01:26.090> is<00:01:26.240> sort<00:01:26.479> of<00:01:26.510> the<00:01:26.630> idea<00:01:26.900> of 00:01:27.039 --> 00:01:27.049 align:start position:0% economics is sort of the idea of 00:01:27.049 --> 00:01:28.690 align:start position:0% economics is sort of the idea of combining<00:01:27.409> cryptography<00:01:28.130> to<00:01:28.280> look<00:01:28.490> at<00:01:28.580> the 00:01:28.690 --> 00:01:28.700 align:start position:0% combining cryptography to look at the 00:01:28.700 --> 00:01:30.969 align:start position:0% combining cryptography to look at the past<00:01:28.909> and<00:01:29.570> economics<00:01:30.200> to<00:01:30.320> provide<00:01:30.560> security 00:01:30.969 --> 00:01:30.979 align:start position:0% past and economics to provide security 00:01:30.979 --> 00:01:32.980 align:start position:0% past and economics to provide security guarantees<00:01:31.400> that<00:01:31.430> hold<00:01:31.729> into<00:01:31.909> the<00:01:32.000> future<00:01:32.330> to 00:01:32.980 --> 00:01:32.990 align:start position:0% guarantees that hold into the future to 00:01:32.990 --> 00:01:34.630 align:start position:0% guarantees that hold into the future to secure<00:01:33.380> these<00:01:33.500> protocols<00:01:34.010> and<00:01:34.189> contracts 00:01:34.630 --> 00:01:34.640 align:start position:0% secure these protocols and contracts 00:01:34.640 --> 00:01:37.060 align:start position:0% secure these protocols and contracts that<00:01:34.850> we're<00:01:34.970> all<00:01:35.060> building<00:01:35.420> here<00:01:36.070> there's 00:01:37.060 --> 00:01:37.070 align:start position:0% that we're all building here there's 00:01:37.070 --> 00:01:38.380 align:start position:0% that we're all building here there's even<00:01:37.310> been<00:01:37.430> a<00:01:37.460> crypto<00:01:37.760> economic<00:01:38.210> security 00:01:38.380 --> 00:01:38.390 align:start position:0% even been a crypto economic security 00:01:38.390 --> 00:01:40.300 align:start position:0% even been a crypto economic security conference<00:01:38.990> this<00:01:39.380> year<00:01:39.439> at<00:01:39.770> Berkeley<00:01:39.890> for<00:01:40.250> the 00:01:40.300 --> 00:01:40.310 align:start position:0% conference this year at Berkeley for the 00:01:40.310 --> 00:01:42.100 align:start position:0% conference this year at Berkeley for the first<00:01:40.520> time<00:01:40.760> and<00:01:40.970> by<00:01:41.299> the<00:01:41.360> way<00:01:41.479> blockchain<00:01:41.990> at 00:01:42.100 --> 00:01:42.110 align:start position:0% first time and by the way blockchain at 00:01:42.110 --> 00:01:43.330 align:start position:0% first time and by the way blockchain at Berkeley<00:01:42.350> we<00:01:42.470> totally<00:01:42.860> agree<00:01:42.950> that<00:01:43.100> the 00:01:43.330 --> 00:01:43.340 align:start position:0% Berkeley we totally agree that the 00:01:43.340 --> 00:01:45.010 align:start position:0% Berkeley we totally agree that the blockchain<00:01:43.549> space<00:01:44.000> needs<00:01:44.299> more<00:01:44.540> academic 00:01:45.010 --> 00:01:45.020 align:start position:0% blockchain space needs more academic 00:01:45.020 --> 00:01:47.649 align:start position:0% blockchain space needs more academic presence<00:01:45.759> all<00:01:46.759> right<00:01:46.909> so<00:01:47.060> is<00:01:47.180> this<00:01:47.330> planet 00:01:47.649 --> 00:01:47.659 align:start position:0% presence all right so is this planet 00:01:47.659 --> 00:01:49.300 align:start position:0% presence all right so is this planet hyper<00:01:47.840> is<00:01:48.080> this<00:01:48.229> the<00:01:48.380> real<00:01:48.530> deal<00:01:48.560> let's<00:01:49.100> take<00:01:49.280> a 00:01:49.300 --> 00:01:49.310 align:start position:0% hyper is this the real deal let's take a 00:01:49.310 --> 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this in the<00:01:56.030> Bitcoin<00:01:56.360> system<00:01:56.570> and<00:01:56.930> the<00:01:56.990> Nakamoto 00:01:57.370 --> 00:01:57.380 align:start position:0% the Bitcoin system and the Nakamoto 00:01:57.380 --> 00:02:00.010 align:start position:0% the Bitcoin system and the Nakamoto white<00:01:57.740> paper<00:01:58.060> and<00:01:59.060> we<00:01:59.329> have<00:01:59.479> several<00:01:59.810> new 00:02:00.010 --> 00:02:00.020 align:start position:0% white paper and we have several new 00:02:00.020 --> 00:02:01.749 align:start position:0% white paper and we have several new protocols<00:02:00.470> that<00:02:00.619> are<00:02:00.710> coming<00:02:00.950> out<00:02:01.100> among 00:02:01.749 --> 00:02:01.759 align:start position:0% protocols that are coming out among 00:02:01.759 --> 00:02:03.190 align:start position:0% protocols that are coming out among which<00:02:01.939> relevant<00:02:02.390> to<00:02:02.450> the<00:02:02.540> etherium<00:02:02.869> community 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position:0% economics going on at the smart contract 00:02:17.160 --> 00:02:19.490 align:start position:0% economics going on at the smart contract layer<00:02:17.580> so<00:02:18.150> we<00:02:18.270> really<00:02:18.600> don't<00:02:18.720> have<00:02:18.870> rigorous 00:02:19.490 --> 00:02:19.500 align:start position:0% layer so we really don't have rigorous 00:02:19.500 --> 00:02:21.530 align:start position:0% layer so we really don't have rigorous economic<00:02:20.250> analyses<00:02:20.730> of<00:02:20.790> most<00:02:21.330> of<00:02:21.450> these 00:02:21.530 --> 00:02:21.540 align:start position:0% economic analyses of most of these 00:02:21.540 --> 00:02:23.900 align:start position:0% economic analyses of most of these contracts<00:02:22.020> or<00:02:22.230> cryptographic<00:02:22.620> mechanisms<00:02:23.070> to 00:02:23.900 --> 00:02:23.910 align:start position:0% contracts or cryptographic mechanisms to 00:02:23.910 --> 00:02:25.160 align:start position:0% contracts or cryptographic mechanisms to sort<00:02:24.090> of<00:02:24.180> guarantee<00:02:24.510> the<00:02:24.630> properties<00:02:25.020> we're 00:02:25.160 --> 00:02:25.170 align:start position:0% sort of guarantee the properties we're 00:02:25.170 --> 00:02:27.680 align:start position:0% sort of guarantee the properties we're looking<00:02:25.380> for<00:02:25.590> and<00:02:25.920> that<00:02:26.820> is<00:02:27.000> why<00:02:27.150> today<00:02:27.420> we're 00:02:27.680 --> 00:02:27.690 align:start position:0% looking for and that is why today we're 00:02:27.690 --> 00:02:29.540 align:start position:0% looking for and that is why today we're announcing<00:02:27.810> the<00:02:28.080> Hydra<00:02:28.380> project<00:02:28.770> you<00:02:29.370> can 00:02:29.540 --> 00:02:29.550 align:start position:0% announcing the Hydra project you can 00:02:29.550 --> 00:02:32.360 align:start position:0% announcing the Hydra project you can check<00:02:29.820> out<00:02:30.000> the<00:02:30.360> Hydra<00:02:30.660> do<00:02:31.010> and<00:02:32.010> sort<00:02:32.280> of 00:02:32.360 --> 00:02:32.370 align:start position:0% check out the Hydra do and sort of 00:02:32.370 --> 00:02:34.310 align:start position:0% check out the Hydra do and sort of follow<00:02:32.580> along<00:02:32.700> and<00:02:33.180> read<00:02:33.540> the<00:02:33.660> paper<00:02:33.840> or<00:02:34.110> look 00:02:34.310 --> 00:02:34.320 align:start position:0% follow along and read the paper or look 00:02:34.320 --> 00:02:34.910 align:start position:0% follow along and read the paper or look at<00:02:34.410> the<00:02:34.500> code 00:02:34.910 --> 00:02:34.920 align:start position:0% at the code 00:02:34.920 --> 00:02:36.500 align:start position:0% at the code I<00:02:34.950> highly<00:02:35.460> recommend<00:02:35.490> you<00:02:35.880> do<00:02:36.000> so<00:02:36.030> if<00:02:36.300> you<00:02:36.390> have 00:02:36.500 --> 00:02:36.510 align:start position:0% I highly recommend you do so if you have 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bounties<00:02:43.920> with<00:02:44.550> no<00:02:44.760> humans<00:02:45.150> in<00:02:45.240> the 00:02:45.320 --> 00:02:45.330 align:start position:0% and bug bounties with no humans in the 00:02:45.330 --> 00:02:47.320 align:start position:0% and bug bounties with no humans in the loop<00:02:45.480> and<00:02:45.660> no<00:02:45.810> trust<00:02:46.110> required<00:02:46.470> for<00:02:46.740> payment 00:02:47.320 --> 00:02:47.330 align:start position:0% loop and no trust required for payment 00:02:47.330 --> 00:02:49.580 align:start position:0% loop and no trust required for payment rigorous<00:02:48.330> crypto<00:02:48.660> economic<00:02:49.140> security 00:02:49.580 --> 00:02:49.590 align:start position:0% rigorous crypto economic security 00:02:49.590 --> 00:02:51.280 align:start position:0% rigorous crypto economic security guarantees<00:02:49.950> that<00:02:49.980> we<00:02:50.280> can<00:02:50.430> model<00:02:50.760> and<00:02:50.880> analyze 00:02:51.280 --> 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00:03:01.640 align:start position:0% bit of a warning here the Hydra project is<00:03:00.210> still<00:03:00.390> in<00:03:00.720> sort<00:03:00.990> of<00:03:01.020> the<00:03:01.140> research<00:03:01.380> phase 00:03:01.640 --> 00:03:01.650 align:start position:0% is still in sort of the research phase 00:03:01.650 --> 00:03:03.800 align:start position:0% is still in sort of the research phase we're<00:03:02.010> still<00:03:02.220> undergoing<00:03:02.640> testing<00:03:03.390> process 00:03:03.800 --> 00:03:03.810 align:start position:0% we're still undergoing testing process 00:03:03.810 --> 00:03:05.750 align:start position:0% we're still undergoing testing process security<00:03:04.170> audits<00:03:04.650> and<00:03:04.830> other<00:03:05.010> sort<00:03:05.550> of<00:03:05.580> high 00:03:05.750 --> 00:03:05.760 align:start position:0% security audits and other sort of high 00:03:05.760 --> 00:03:07.340 align:start position:0% security audits and other sort of high assurance<00:03:05.910> software<00:03:06.600> development<00:03:06.990> processes 00:03:07.340 --> 00:03:07.350 align:start position:0% assurance software development processes 00:03:07.350 --> 00:03:09.500 align:start position:0% assurance software development processes so<00:03:08.160> we<00:03:08.340> have<00:03:08.490> released<00:03:08.760> all<00:03:08.940> the<00:03:09.060> code<00:03:09.210> for<00:03:09.450> you 00:03:09.500 --> 00:03:09.510 align:start position:0% so we have released all the code for you 00:03:09.510 --> 00:03:10.580 align:start position:0% so we have released all the code for you guys<00:03:09.690> to<00:03:09.840> play<00:03:09.990> with<00:03:10.140> and<00:03:10.380> start 00:03:10.580 --> 00:03:10.590 align:start position:0% guys to play with and start 00:03:10.590 --> 00:03:11.960 align:start position:0% guys to play with and start experimenting<00:03:10.890> with<00:03:11.250> and<00:03:11.580> give<00:03:11.730> us<00:03:11.820> feedback 00:03:11.960 --> 00:03:11.970 align:start position:0% experimenting with and give us feedback 00:03:11.970 --> 00:03:14.510 align:start position:0% experimenting with and give us feedback on<00:03:12.320> but<00:03:13.320> trusting<00:03:13.740> large<00:03:13.920> amounts<00:03:14.250> of<00:03:14.310> funds 00:03:14.510 --> 00:03:14.520 align:start position:0% on but trusting large amounts of funds 00:03:14.520 --> 00:03:15.890 align:start position:0% on but trusting large amounts of funds to<00:03:14.640> this<00:03:14.760> little<00:03:15.030> baby<00:03:15.210> Hydra<00:03:15.600> that<00:03:15.750> we've 00:03:15.890 --> 00:03:15.900 align:start position:0% to this little baby Hydra that we've 00:03:15.900 --> 00:03:17.270 align:start position:0% to this little baby Hydra that we've sort<00:03:16.110> of<00:03:16.200> spun<00:03:16.410> up<00:03:16.530> would<00:03:16.710> probably<00:03:17.130> be<00:03:17.250> a 00:03:17.270 --> 00:03:17.280 align:start position:0% sort of spun up would probably be a 00:03:17.280 --> 00:03:20.410 align:start position:0% sort of spun up would probably be a mistake<00:03:18.350> all<00:03:19.350> right<00:03:19.500> so<00:03:19.800> why<00:03:19.980> bounties 00:03:20.410 --> 00:03:20.420 align:start position:0% mistake all right so why bounties 00:03:20.420 --> 00:03:22.520 align:start position:0% mistake all right so why bounties traditionally<00:03:21.420> you<00:03:22.020> sort<00:03:22.200> of<00:03:22.260> have<00:03:22.410> this 00:03:22.520 --> 00:03:22.530 align:start position:0% traditionally you sort of have this 00:03:22.530 --> 00:03:23.900 align:start position:0% traditionally you sort of have this limited<00:03:22.950> time<00:03:22.980> for<00:03:23.310> software<00:03:23.550> development 00:03:23.900 --> 00:03:23.910 align:start position:0% limited time for software development 00:03:23.910 --> 00:03:25.400 align:start position:0% limited time for software development you<00:03:24.030> have<00:03:24.210> two<00:03:24.450> to<00:03:24.540> four<00:03:24.570> people<00:03:24.870> take<00:03:25.170> a<00:03:25.200> look 00:03:25.400 --> 00:03:25.410 align:start position:0% you have two to four people take a look 00:03:25.410 --> 00:03:26.720 align:start position:0% you have two to four people take a look at<00:03:25.500> it<00:03:25.620> do<00:03:25.740> a<00:03:25.770> code<00:03:25.980> review<00:03:26.250> and<00:03:26.280> then<00:03:26.490> you<00:03:26.550> ship 00:03:26.720 --> 00:03:26.730 align:start position:0% at it do a code review and then you ship 00:03:26.730 --> 00:03:28.850 align:start position:0% at it do a code review and then you ship it<00:03:26.850> to<00:03:26.910> the<00:03:27.030> customer<00:03:27.500> this<00:03:28.500> new<00:03:28.650> crowd 00:03:28.850 --> 00:03:28.860 align:start position:0% it to the customer this new crowd 00:03:28.860 --> 00:03:30.620 align:start position:0% it to the customer this new crowd security<00:03:29.340> approach<00:03:29.580> says<00:03:29.850> basically<00:03:30.300> for<00:03:30.540> an 00:03:30.620 --> 00:03:30.630 align:start position:0% security approach says basically for an 00:03:30.630 --> 00:03:32.150 align:start position:0% security approach says basically for an unlimited<00:03:30.870> time<00:03:31.080> you<00:03:31.410> run<00:03:31.530> a<00:03:31.590> little<00:03:31.770> bounty 00:03:32.150 --> 00:03:32.160 align:start position:0% unlimited time you run a little bounty 00:03:32.160 --> 00:03:33.710 align:start position:0% unlimited time you run a little bounty and<00:03:32.310> you<00:03:32.550> let<00:03:32.700> the<00:03:32.790> community<00:03:33.240> look<00:03:33.420> at<00:03:33.570> it 00:03:33.710 --> 00:03:33.720 align:start position:0% and you let the community look at it 00:03:33.720 --> 00:03:35.600 align:start position:0% and you let the community look at it with<00:03:34.200> the<00:03:34.320> idea<00:03:34.560> being<00:03:34.770> that<00:03:34.860> many<00:03:35.190> eyes<00:03:35.370> are 00:03:35.600 --> 00:03:35.610 align:start position:0% with the idea being that many eyes are 00:03:35.610 --> 00:03:38.570 align:start position:0% with the idea being that many eyes are better<00:03:35.760> than<00:03:35.910> one<00:03:36.770> all<00:03:37.770> right<00:03:37.890> so<00:03:37.950> let's<00:03:38.250> see 00:03:38.570 --> 00:03:38.580 align:start position:0% better than one all right so let's see 00:03:38.580 --> 00:03:39.800 align:start position:0% better than one all right so let's see this<00:03:38.700> as<00:03:38.850> a<00:03:38.880> game<00:03:39.090> since<00:03:39.390> we're<00:03:39.540> talking<00:03:39.630> about 00:03:39.800 --> 00:03:39.810 align:start position:0% this as a game since we're talking about 00:03:39.810 --> 00:03:41.480 align:start position:0% this as a game since we're talking about crypto<00:03:40.170> economics<00:03:40.680> and<00:03:40.830> take<00:03:40.950> a<00:03:40.980> look<00:03:41.220> at<00:03:41.340> what 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system with no bounty an attacker finds 00:03:48.810 --> 00:03:50.030 align:start position:0% system with no bounty an attacker finds an<00:03:48.960> exploit<00:03:49.350> and<00:03:49.560> then<00:03:49.650> they<00:03:49.740> have<00:03:49.860> two 00:03:50.030 --> 00:03:50.040 align:start position:0% an exploit and then they have two 00:03:50.040 --> 00:03:50.480 align:start position:0% an exploit and then they have two choices 00:03:50.480 --> 00:03:50.490 align:start position:0% choices 00:03:50.490 --> 00:03:52.460 align:start position:0% choices they<00:03:50.880> can<00:03:51.030> either<00:03:51.120> attack<00:03:51.480> and<00:03:51.720> steal<00:03:51.900> the<00:03:52.020> $1 00:03:52.460 --> 00:03:52.470 align:start position:0% they can either attack and steal the $1 00:03:52.470 --> 00:03:54.020 align:start position:0% they can either attack and steal the $1 in<00:03:52.590> the<00:03:52.680> contract<00:03:53.100> or<00:03:53.280> they<00:03:53.430> can<00:03:53.580> disclose<00:03:53.790> and 00:03:54.020 --> 00:03:54.030 align:start position:0% in the contract or they can disclose and 00:03:54.030 --> 00:03:55.550 align:start position:0% in the contract or they can disclose and get<00:03:54.120> nothing<00:03:54.420> so<00:03:54.630> obviously<00:03:55.320> they're<00:03:55.470> gonna 00:03:55.550 --> 00:03:55.560 align:start position:0% get nothing so obviously they're gonna 00:03:55.560 --> 00:03:57.530 align:start position:0% get nothing so obviously they're gonna attack<00:03:55.860> the<00:03:55.980> contract<00:03:56.370> every<00:03:56.580> time<00:03:56.790> this<00:03:57.330> is 00:03:57.530 --> 00:03:57.540 align:start position:0% attack the contract every time this is 00:03:57.540 --> 00:03:59.990 align:start position:0% attack the contract every time this is why<00:03:57.660> we<00:03:57.810> need<00:03:57.960> bounties<00:03:58.320> all<00:03:59.310> right<00:03:59.490> how<00:03:59.970> about 00:03:59.990 --> 00:04:00.000 align:start position:0% why we need bounties all right how about 00:04:00.000 --> 00:04:01.580 align:start position:0% why we need bounties all right how about traditional<00:04:00.600> bounties<00:04:00.960> like<00:04:01.200> the<00:04:01.320> kind<00:04:01.500> I 00:04:01.580 --> 00:04:01.590 align:start position:0% traditional bounties like the kind I 00:04:01.590 --> 00:04:03.140 align:start position:0% traditional bounties like the kind I showed<00:04:01.770> you<00:04:01.860> on<00:04:01.950> the<00:04:01.980> previous<00:04:02.130> slide<00:04:02.310> well 00:04:03.140 --> 00:04:03.150 align:start position:0% showed you on the previous slide well 00:04:03.150 --> 00:04:04.880 align:start position:0% showed you on the previous slide well there's<00:04:03.330> a<00:04:03.390> problem<00:04:03.600> here<00:04:03.930> which<00:04:04.080> is<00:04:04.110> that<00:04:04.440> an 00:04:04.880 --> 00:04:04.890 align:start position:0% there's a problem here which is that an 00:04:04.890 --> 00:04:06.140 align:start position:0% there's a problem here which is that an attacker<00:04:05.190> doesn't<00:04:05.550> actually<00:04:05.670> know<00:04:05.910> when<00:04:06.060> they 00:04:06.140 --> 00:04:06.150 align:start position:0% attacker doesn't actually know when they 00:04:06.150 --> 00:04:07.280 align:start position:0% attacker doesn't actually know when they disclose<00:04:06.510> how<00:04:06.720> much<00:04:06.780> money<00:04:07.050> they're<00:04:07.200> gonna 00:04:07.280 --> 00:04:07.290 align:start position:0% disclose how much money they're gonna 00:04:07.290 --> 00:04:09.770 align:start position:0% disclose how much money they're gonna get<00:04:07.470> paid<00:04:07.710> so<00:04:08.580> they<00:04:08.700> actually<00:04:09.060> have<00:04:09.390> no<00:04:09.570> way<00:04:09.720> to 00:04:09.770 --> 00:04:09.780 align:start position:0% get paid so they actually have no way to 00:04:09.780 --> 00:04:11.180 align:start position:0% get paid so they actually have no way to make<00:04:10.050> a<00:04:10.080> rational<00:04:10.320> decision<00:04:10.680> on<00:04:10.920> whether<00:04:11.070> to 00:04:11.180 --> 00:04:11.190 align:start position:0% make a rational decision on whether to 00:04:11.190 --> 00:04:14.420 align:start position:0% make a rational decision on whether to disclose<00:04:11.640> or<00:04:11.820> to<00:04:11.910> attack<00:04:12.120> the<00:04:12.300> contract<00:04:13.430> all 00:04:14.420 --> 00:04:14.430 align:start position:0% disclose or to attack the contract all 00:04:14.430 --> 00:04:16.220 align:start position:0% disclose or to attack the contract all right<00:04:14.550> what<00:04:15.270> would<00:04:15.390> be<00:04:15.510> a<00:04:15.540> better<00:04:15.690> game<00:04:16.020> what 00:04:16.220 --> 00:04:16.230 align:start position:0% right what would be a better game what 00:04:16.230 --> 00:04:17.479 align:start position:0% right what would be a better game what would<00:04:16.320> we<00:04:16.470> sort<00:04:16.799> of<00:04:16.859> want<00:04:17.130> out<00:04:17.310> of<00:04:17.340> this 00:04:17.479 --> 00:04:17.489 align:start position:0% would we sort of want out of this 00:04:17.489 --> 00:04:18.800 align:start position:0% would we sort of want out of this functionality<00:04:17.910> well<00:04:18.270> one<00:04:18.570> thing<00:04:18.720> we 00:04:18.800 --> 00:04:18.810 align:start position:0% functionality well one thing we 00:04:18.810 --> 00:04:20.120 align:start position:0% functionality well one thing we definitely<00:04:18.930> want<00:04:19.350> is<00:04:19.500> we<00:04:19.620> want<00:04:19.650> the<00:04:19.859> attacker 00:04:20.120 --> 00:04:20.130 align:start position:0% definitely want is we want the attacker 00:04:20.130 --> 00:04:22.520 align:start position:0% definitely want is we want the attacker to<00:04:20.280> know<00:04:20.520> sort<00:04:21.120> of<00:04:21.270> what<00:04:21.330> the<00:04:21.989> value<00:04:22.320> of<00:04:22.350> the 00:04:22.520 --> 00:04:22.530 align:start position:0% to know sort of what the value of the 00:04:22.530 --> 00:04:23.900 align:start position:0% to know sort of what the value of the bounty<00:04:22.830> is<00:04:22.860> so<00:04:23.160> they<00:04:23.280> can<00:04:23.430> at<00:04:23.520> least<00:04:23.610> make 00:04:23.900 --> 00:04:23.910 align:start position:0% bounty is so they can at least make 00:04:23.910 --> 00:04:25.880 align:start position:0% bounty is so they can at least make somewhat<00:04:24.300> of<00:04:24.390> a<00:04:24.450> rational<00:04:24.630> decision<00:04:25.020> and 00:04:25.880 --> 00:04:25.890 align:start position:0% somewhat of a rational decision and 00:04:25.890 --> 00:04:27.590 align:start position:0% somewhat of a rational decision and attack<00:04:26.190> only<00:04:26.580> if<00:04:26.669> the<00:04:26.820> contract<00:04:27.180> value<00:04:27.480> is 00:04:27.590 --> 00:04:27.600 align:start position:0% attack only if the contract value is 00:04:27.600 --> 00:04:28.590 align:start position:0% attack only if the contract value is greater<00:04:27.780> than<00:04:27.870> the<00:04:28.050> bounty 00:04:28.590 --> 00:04:28.600 align:start position:0% greater than the bounty 00:04:28.600 --> 00:04:30.420 align:start position:0% greater than the bounty unfortunately<00:04:29.590> this<00:04:29.890> means<00:04:29.950> you<00:04:30.280> need<00:04:30.370> to 00:04:30.420 --> 00:04:30.430 align:start position:0% unfortunately this means you need to 00:04:30.430 --> 00:04:32.220 align:start position:0% unfortunately this means you need to have<00:04:30.520> very<00:04:30.640> large<00:04:30.970> bounties<00:04:31.480> and<00:04:31.510> essentially 00:04:32.220 --> 00:04:32.230 align:start position:0% have very large bounties and essentially 00:04:32.230 --> 00:04:33.420 align:start position:0% have very large bounties and essentially pay<00:04:32.380> more<00:04:32.590> than<00:04:32.770> what<00:04:32.890> the<00:04:32.980> contract<00:04:33.340> is 00:04:33.420 --> 00:04:33.430 align:start position:0% pay more than what the contract is 00:04:33.430 --> 00:04:34.520 align:start position:0% pay more than what the contract is holding<00:04:33.760> which<00:04:33.850> doesn't<00:04:34.120> really<00:04:34.300> make<00:04:34.450> sense 00:04:34.520 --> 00:04:34.530 align:start position:0% holding which doesn't really make sense 00:04:34.530 --> 00:04:36.540 align:start position:0% holding which doesn't really make sense so<00:04:35.530> what<00:04:35.680> would<00:04:35.770> we<00:04:35.920> really<00:04:36.040> like<00:04:36.280> to<00:04:36.400> see 00:04:36.540 --> 00:04:36.550 align:start position:0% so what would we really like to see 00:04:36.550 --> 00:04:38.730 align:start position:0% so what would we really like to see economically<00:04:37.060> we'd<00:04:37.780> like<00:04:37.990> to<00:04:38.140> see<00:04:38.350> sort<00:04:38.650> of 00:04:38.730 --> 00:04:38.740 align:start position:0% economically we'd like to see sort of 00:04:38.740 --> 00:04:40.950 align:start position:0% economically we'd like to see sort of this<00:04:38.890> game<00:04:39.100> where<00:04:39.820> an<00:04:40.030> attacker<00:04:40.330> once<00:04:40.810> they 00:04:40.950 --> 00:04:40.960 align:start position:0% this game where an attacker once they 00:04:40.960 --> 00:04:42.840 align:start position:0% this game where an attacker once they find<00:04:41.140> an<00:04:41.230> exploit<00:04:41.560> either<00:04:42.070> has<00:04:42.310> the<00:04:42.430> choice<00:04:42.610> to 00:04:42.840 --> 00:04:42.850 align:start position:0% find an exploit either has the choice to 00:04:42.850 --> 00:04:45.000 align:start position:0% find an exploit either has the choice to disclose<00:04:43.180> it<00:04:43.300> for<00:04:43.480> some<00:04:43.600> amount<00:04:43.810> or<00:04:44.500> to 00:04:45.000 --> 00:04:45.010 align:start position:0% disclose it for some amount or to 00:04:45.010 --> 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of the money in the contract<00:04:51.250> so<00:04:52.150> in<00:04:52.240> this<00:04:52.360> game<00:04:52.570> an<00:04:52.750> attacker<00:04:53.020> is 00:04:53.160 --> 00:04:53.170 align:start position:0% contract so in this game an attacker is 00:04:53.170 --> 00:04:54.930 align:start position:0% contract so in this game an attacker is gonna<00:04:53.320> attack<00:04:53.650> if<00:04:53.890> sort<00:04:54.160> of<00:04:54.280> the<00:04:54.490> cost<00:04:54.730> they 00:04:54.930 --> 00:04:54.940 align:start position:0% gonna attack if sort of the cost they 00:04:54.940 --> 00:04:56.840 align:start position:0% gonna attack if sort of the cost they have<00:04:54.970> to<00:04:55.210> do<00:04:55.300> to<00:04:55.330> fully<00:04:55.630> exploit<00:04:55.960> the<00:04:56.140> contract 00:04:56.840 --> 00:04:56.850 align:start position:0% have to do to fully exploit the contract 00:04:56.850 --> 00:04:59.340 align:start position:0% have to do to fully exploit the contract the<00:04:57.850> contract<00:04:58.210> value<00:04:58.240> -<00:04:58.750> that<00:04:58.930> is<00:04:59.110> greater 00:04:59.340 --> 00:04:59.350 align:start position:0% the contract value - that is greater 00:04:59.350 --> 00:05:01.770 align:start position:0% the contract value - that is greater than<00:04:59.410> the<00:04:59.620> bounty<00:04:59.890> so<00:05:00.790> what<00:05:01.330> do<00:05:01.390> we<00:05:01.480> want<00:05:01.630> to<00:05:01.690> do 00:05:01.770 --> 00:05:01.780 align:start position:0% than the bounty so what do we want to do 00:05:01.780 --> 00:05:04.050 align:start position:0% than the bounty so what do we want to do here<00:05:01.990> we<00:05:02.260> want<00:05:02.440> to<00:05:02.530> maximize<00:05:03.160> this<00:05:03.400> see<00:05:03.670> if<00:05:03.880> we 00:05:04.050 --> 00:05:04.060 align:start position:0% here we want to maximize this see if we 00:05:04.060 --> 00:05:05.310 align:start position:0% here we want to maximize this see if we can<00:05:04.210> create<00:05:04.390> such<00:05:04.600> a<00:05:04.630> game<00:05:04.840> as<00:05:05.020> high<00:05:05.170> as 00:05:05.310 --> 00:05:05.320 align:start position:0% can create such a game as high as 00:05:05.320 --> 00:05:06.570 align:start position:0% can create such a game as high as possible<00:05:05.350> and<00:05:05.950> sort<00:05:06.100> of<00:05:06.160> get<00:05:06.310> the<00:05:06.430> best 00:05:06.570 --> 00:05:06.580 align:start position:0% possible and sort of get the best 00:05:06.580 --> 00:05:07.980 align:start position:0% possible and sort of get the best possible<00:05:06.790> economic<00:05:07.420> security<00:05:07.630> for<00:05:07.780> our 00:05:07.980 --> 00:05:07.990 align:start position:0% possible economic security for our 00:05:07.990 --> 00:05:11.430 align:start position:0% possible economic security for our contract<00:05:08.580> this<00:05:09.580> this<00:05:10.030> see<00:05:10.390> costs<00:05:11.080> after 00:05:11.430 --> 00:05:11.440 align:start position:0% contract this this see costs after 00:05:11.440 --> 00:05:13.110 align:start position:0% contract this this see costs after finding<00:05:11.680> the<00:05:11.860> first<00:05:12.040> exploit<00:05:12.460> to<00:05:12.580> a<00:05:12.610> contract 00:05:13.110 --> 00:05:13.120 align:start position:0% finding the first exploit to a contract 00:05:13.120 --> 00:05:16.110 align:start position:0% finding the first exploit to a contract is<00:05:13.570> what<00:05:13.870> we<00:05:13.990> call<00:05:14.200> an<00:05:14.350> exploit<00:05:14.740> gap<00:05:14.920> so<00:05:15.730> we<00:05:15.760> say 00:05:16.110 --> 00:05:16.120 align:start position:0% is what we call an exploit gap so we say 00:05:16.120 --> 00:05:18.180 align:start position:0% is what we call an exploit gap so we say mind<00:05:16.660> the<00:05:16.780> gap<00:05:16.900> and<00:05:17.200> introduce<00:05:17.770> an<00:05:17.890> exploit 00:05:18.180 --> 00:05:18.190 align:start position:0% mind the gap and introduce an exploit 00:05:18.190 --> 00:05:20.070 align:start position:0% mind the gap and introduce an exploit gap<00:05:18.370> what<00:05:19.270> are<00:05:19.360> other<00:05:19.450> things<00:05:19.690> we'd<00:05:19.810> like<00:05:19.840> out 00:05:20.070 --> 00:05:20.080 align:start position:0% gap what are other things we'd like out 00:05:20.080 --> 00:05:21.870 align:start position:0% gap what are other things we'd like out of<00:05:20.170> our<00:05:20.260> bounty<00:05:20.590> we'd<00:05:20.920> like<00:05:21.160> the<00:05:21.340> attacker<00:05:21.640> to 00:05:21.870 --> 00:05:21.880 align:start position:0% of our bounty we'd like the attacker to 00:05:21.880 --> 00:05:23.670 align:start position:0% of our bounty we'd like the attacker to be<00:05:22.000> able<00:05:22.060> to<00:05:22.300> either<00:05:22.480> attack<00:05:22.870> our<00:05:23.050> contract<00:05:23.470> or 00:05:23.670 --> 00:05:23.680 align:start position:0% be able to either attack our contract or 00:05:23.680 --> 00:05:26.220 align:start position:0% be able to either attack our contract or claim<00:05:23.980> the<00:05:24.130> bounty<00:05:24.220> but<00:05:24.550> not<00:05:24.760> both<00:05:25.050> we<00:05:26.050> would 00:05:26.220 --> 00:05:26.230 align:start position:0% claim the bounty but not both we would 00:05:26.230 --> 00:05:27.810 align:start position:0% claim the bounty but not both we would like<00:05:26.380> the<00:05:26.560> payout<00:05:26.830> to<00:05:26.980> be<00:05:27.100> predetermined<00:05:27.670> so 00:05:27.810 --> 00:05:27.820 align:start position:0% like the payout to be predetermined so 00:05:27.820 --> 00:05:29.160 align:start position:0% like the payout to be predetermined so they<00:05:27.940> can<00:05:28.090> rationally<00:05:28.540> make<00:05:28.690> a<00:05:28.720> decision<00:05:29.080> on 00:05:29.160 --> 00:05:29.170 align:start position:0% they can rationally make a decision on 00:05:29.170 --> 00:05:30.870 align:start position:0% they can rationally make a decision on whether<00:05:29.350> to<00:05:29.530> take<00:05:29.650> the<00:05:29.710> bounty<00:05:29.920> and<00:05:30.250> we<00:05:30.760> would 00:05:30.870 --> 00:05:30.880 align:start position:0% whether to take the bounty and we would 00:05:30.880 --> 00:05:32.220 align:start position:0% whether to take the bounty and we would like<00:05:31.030> to<00:05:31.060> payout<00:05:31.360> to<00:05:31.510> be<00:05:31.600> fully<00:05:31.780> trust<00:05:32.080> less 00:05:32.220 --> 00:05:32.230 align:start position:0% like to payout to be fully trust less 00:05:32.230 --> 00:05:33.870 align:start position:0% like to payout to be fully trust less it's<00:05:32.800> full<00:05:32.980> of<00:05:33.100> stories<00:05:33.250> on<00:05:33.520> the<00:05:33.580> internet 00:05:33.870 --> 00:05:33.880 align:start position:0% it's full of stories on the internet 00:05:33.880 --> 00:05:35.220 align:start position:0% it's full of stories on the internet several<00:05:34.240> of<00:05:34.300> which<00:05:34.330> we<00:05:34.540> cited<00:05:34.810> in<00:05:34.870> our<00:05:34.990> paper 00:05:35.220 --> 00:05:35.230 align:start position:0% several of which we cited in our paper 00:05:35.230 --> 00:05:37.230 align:start position:0% several of which we cited in our paper about<00:05:35.920> hackers<00:05:36.190> who<00:05:36.460> complain<00:05:36.790> that<00:05:36.820> X 00:05:37.230 --> 00:05:37.240 align:start position:0% about hackers who complain that X 00:05:37.240 --> 00:05:38.550 align:start position:0% about hackers who complain that X company<00:05:37.480> didn't<00:05:37.840> pay<00:05:37.960> them<00:05:38.140> or<00:05:38.320> they<00:05:38.380> didn't 00:05:38.550 --> 00:05:38.560 align:start position:0% company didn't pay them or they didn't 00:05:38.560 --> 00:05:39.870 align:start position:0% company didn't pay them or they didn't pay<00:05:38.680> them<00:05:38.830> enough<00:05:39.070> or<00:05:39.340> they<00:05:39.490> didn't<00:05:39.700> agree 00:05:39.870 --> 00:05:39.880 align:start position:0% pay them enough or they didn't agree 00:05:39.880 --> 00:05:41.670 align:start position:0% pay them enough or they didn't agree with<00:05:39.970> their<00:05:40.180> assessment<00:05:40.270> of<00:05:40.690> the<00:05:40.750> bug<00:05:40.930> so<00:05:41.560> we 00:05:41.670 --> 00:05:41.680 align:start position:0% with their assessment of the bug so we 00:05:41.680 --> 00:05:42.930 align:start position:0% with their assessment of the bug so we want<00:05:41.830> to<00:05:41.920> get<00:05:42.010> rid<00:05:42.130> of<00:05:42.160> that<00:05:42.340> completely<00:05:42.670> by 00:05:42.930 --> 00:05:42.940 align:start position:0% want to get rid of that completely by 00:05:42.940 --> 00:05:44.400 align:start position:0% want to get rid of that completely by just<00:05:43.240> eliminating<00:05:43.720> humans<00:05:44.050> from<00:05:44.140> the<00:05:44.260> loop 00:05:44.400 --> 00:05:44.410 align:start position:0% just eliminating humans from the loop 00:05:44.410 --> 00:05:45.690 align:start position:0% just eliminating humans from the loop and<00:05:44.590> allowing<00:05:44.950> the<00:05:45.040> attackers<00:05:45.430> to<00:05:45.550> see 00:05:45.690 --> 00:05:45.700 align:start position:0% and allowing the attackers to see 00:05:45.700 --> 00:05:48.210 align:start position:0% and allowing the attackers to see exactly<00:05:46.030> what<00:05:46.240> they<00:05:46.330> get<00:05:46.890> all<00:05:47.890> right<00:05:48.010> so<00:05:48.130> how 00:05:48.210 --> 00:05:48.220 align:start position:0% exactly what they get all right so how 00:05:48.220 --> 00:05:49.080 align:start position:0% exactly what they get all right so how do<00:05:48.280> we<00:05:48.340> do<00:05:48.490> this 00:05:49.080 --> 00:05:49.090 align:start position:0% do we do this 00:05:49.090 --> 00:05:50.820 align:start position:0% do we do this there<00:05:49.420> are<00:05:49.540> many<00:05:49.660> many<00:05:49.930> ways<00:05:50.110> to<00:05:50.560> accomplish 00:05:50.820 --> 00:05:50.830 align:start position:0% there are many many ways to accomplish 00:05:50.830 --> 00:05:52.530 align:start position:0% there are many many ways to accomplish an<00:05:51.280> exploit<00:05:51.640> gap<00:05:51.820> several<00:05:52.210> of<00:05:52.300> which<00:05:52.330> we 00:05:52.530 --> 00:05:52.540 align:start position:0% an exploit gap several of which we 00:05:52.540 --> 00:05:54.300 align:start position:0% an exploit gap several of which we mentioned<00:05:52.840> in<00:05:52.900> our<00:05:52.960> paper<00:05:53.170> but<00:05:53.980> the<00:05:54.100> one<00:05:54.220> we're 00:05:54.300 --> 00:05:54.310 align:start position:0% mentioned in our paper but the one we're 00:05:54.310 --> 00:05:55.440 align:start position:0% mentioned in our paper but the one we're gonna<00:05:54.370> look<00:05:54.580> at<00:05:54.700> today<00:05:54.790> is<00:05:55.030> this<00:05:55.180> thing<00:05:55.330> we 00:05:55.440 --> 00:05:55.450 align:start position:0% gonna look at today is this thing we 00:05:55.450 --> 00:05:57.030 align:start position:0% gonna look at today is this thing we call<00:05:55.600> the<00:05:55.630> Hydra<00:05:55.930> program<00:05:56.260> which<00:05:56.680> sort<00:05:56.920> of 00:05:57.030 --> 00:05:57.040 align:start position:0% call the Hydra program which sort of 00:05:57.040 --> 00:05:58.650 align:start position:0% call the Hydra program which sort of takes<00:05:57.250> this<00:05:57.460> classical<00:05:57.910> idea<00:05:58.180> of<00:05:58.300> an<00:05:58.420> version 00:05:58.650 --> 00:05:58.660 align:start position:0% takes this classical idea of an version 00:05:58.660 --> 00:06:00.480 align:start position:0% takes this classical idea of an version programming<00:05:59.290> and<00:05:59.470> tweaks<00:06:00.010> it<00:06:00.130> a<00:06:00.190> little<00:06:00.370> bit 00:06:00.480 --> 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align:start position:0% airplane system or a space shuttle or something<00:06:05.980> like<00:06:06.070> that<00:06:06.280> we<00:06:06.790> focus<00:06:07.150> on 00:06:07.290 --> 00:06:07.300 align:start position:0% something like that we focus on 00:06:07.300 --> 00:06:09.570 align:start position:0% something like that we focus on integrity<00:06:07.810> so<00:06:08.800> what<00:06:08.950> you<00:06:09.010> do<00:06:09.130> is<00:06:09.250> you<00:06:09.370> develop 00:06:09.570 --> 00:06:09.580 align:start position:0% integrity so what you do is you develop 00:06:09.580 --> 00:06:11.040 align:start position:0% integrity so what you do is you develop multiple<00:06:10.120> copies<00:06:10.270> of<00:06:10.450> your<00:06:10.630> contract 00:06:11.040 --> 00:06:11.050 align:start position:0% multiple copies of your contract 00:06:11.050 --> 00:06:13.020 align:start position:0% multiple copies of your contract independently<00:06:11.620> and<00:06:11.860> then<00:06:12.400> if<00:06:12.550> any<00:06:12.730> of<00:06:12.880> them 00:06:13.020 --> 00:06:13.030 align:start position:0% independently and then if any of them 00:06:13.030 --> 00:06:14.460 align:start position:0% independently and then if any of them has<00:06:13.210> an<00:06:13.360> error<00:06:13.570> you<00:06:13.660> can<00:06:13.990> notice<00:06:14.320> the 00:06:14.460 --> 00:06:14.470 align:start position:0% has an error you can notice the 00:06:14.470 --> 00:06:16.350 align:start position:0% has an error you can notice the divergence<00:06:15.070> in<00:06:15.490> the<00:06:15.670> output<00:06:16.030> of<00:06:16.060> those 00:06:16.350 --> 00:06:16.360 align:start position:0% divergence in the output of those 00:06:16.360 --> 00:06:18.660 align:start position:0% divergence in the output of those contracts<00:06:16.870> and<00:06:17.110> then<00:06:17.440> use<00:06:18.220> sort<00:06:18.550> of<00:06:18.610> a 00:06:18.660 --> 00:06:18.670 align:start position:0% contracts and then use sort of a 00:06:18.670 --> 00:06:21.630 align:start position:0% contracts and then use sort of a governance<00:06:19.030> contract<00:06:19.600> to<00:06:19.960> to<00:06:20.920> abort<00:06:21.310> your 00:06:21.630 --> 00:06:21.640 align:start position:0% governance contract to to abort your 00:06:21.640 --> 00:06:23.730 align:start position:0% governance contract to to abort your contracts<00:06:22.150> and<00:06:22.360> pay<00:06:22.480> a<00:06:22.510> bounty<00:06:22.870> and<00:06:23.380> do<00:06:23.530> some 00:06:23.730 --> 00:06:23.740 align:start position:0% contracts and pay a bounty and do some 00:06:23.740 --> 00:06:25.470 align:start position:0% contracts and pay a bounty and do some safe<00:06:23.950> recovery<00:06:24.100> procedure<00:06:24.670> where<00:06:25.000> either<00:06:25.300> the 00:06:25.470 --> 00:06:25.480 align:start position:0% safe recovery procedure where either the 00:06:25.480 --> 00:06:26.790 align:start position:0% safe recovery procedure where either the money<00:06:25.600> is<00:06:25.750> returned<00:06:26.080> or<00:06:26.290> it's<00:06:26.410> sent<00:06:26.620> to<00:06:26.680> a 00:06:26.790 --> 00:06:26.800 align:start position:0% money is returned or it's sent to a 00:06:26.800 --> 00:06:31.140 align:start position:0% money is returned or it's sent to a trusted<00:06:27.250> multi-sig<00:06:27.720> etc<00:06:29.220> all<00:06:30.220> right<00:06:30.370> so<00:06:30.580> this 00:06:31.140 --> 00:06:31.150 align:start position:0% trusted multi-sig etc all right so this 00:06:31.150 --> 00:06:33.480 align:start position:0% trusted multi-sig etc all right so this sounds<00:06:31.510> great<00:06:31.690> but<00:06:31.990> I<00:06:32.470> heard<00:06:32.860> that<00:06:33.010> n<00:06:33.160> version 00:06:33.480 --> 00:06:33.490 align:start position:0% sounds great but I heard that n version 00:06:33.490 --> 00:06:34.950 align:start position:0% sounds great but I heard that n version programming<00:06:34.000> sucks<00:06:34.270> and<00:06:34.540> it's<00:06:34.660> like<00:06:34.810> not 00:06:34.950 --> 00:06:34.960 align:start position:0% programming sucks and it's like not 00:06:34.960 --> 00:06:36.480 align:start position:0% programming sucks and it's like not fully<00:06:35.260> independent<00:06:35.830> so<00:06:36.010> what<00:06:36.340> are<00:06:36.430> you 00:06:36.480 --> 00:06:36.490 align:start position:0% fully independent so what are you 00:06:36.490 --> 00:06:38.340 align:start position:0% fully independent so what are you talking<00:06:36.790> about<00:06:36.970> so<00:06:37.690> let's<00:06:37.840> look<00:06:37.960> at<00:06:38.110> when<00:06:38.230> we 00:06:38.340 --> 00:06:38.350 align:start position:0% talking about so let's look at when we 00:06:38.350 --> 00:06:40.230 align:start position:0% talking about so let's look at when we actually<00:06:38.470> get<00:06:38.800> this<00:06:38.980> exploit<00:06:39.430> gap<00:06:39.610> out<00:06:39.760> of<00:06:39.880> our 00:06:40.230 --> 00:06:40.240 align:start position:0% actually get this exploit gap out of our 00:06:40.240 --> 00:06:42.659 align:start position:0% actually get this exploit gap out of our contract<00:06:40.949> let's<00:06:41.949> say<00:06:42.069> one<00:06:42.280> of<00:06:42.400> the<00:06:42.490> versions 00:06:42.659 --> 00:06:42.669 align:start position:0% contract let's say one of the versions 00:06:42.669 --> 00:06:44.879 align:start position:0% contract let's say one of the versions you<00:06:43.000> do<00:06:43.120> has<00:06:43.360> a<00:06:43.389> bug<00:06:43.660> of<00:06:43.900> course<00:06:44.470> then<00:06:44.680> you<00:06:44.770> get 00:06:44.879 --> 00:06:44.889 align:start position:0% you do has a bug of course then you get 00:06:44.889 --> 00:06:46.140 align:start position:0% you do has a bug of course then you get the<00:06:45.009> exploit<00:06:45.340> cap<00:06:45.520> because<00:06:45.699> it's<00:06:45.910> very<00:06:46.030> easy 00:06:46.140 --> 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you<00:06:52.840> might<00:06:53.020> still<00:06:53.259> be<00:06:53.349> okay<00:06:53.590> as<00:06:53.800> long<00:06:54.009> as 00:06:54.059 --> 00:06:54.069 align:start position:0% well you might still be okay as long as 00:06:54.069 --> 00:06:56.430 align:start position:0% well you might still be okay as long as it's<00:06:54.310> not<00:06:54.430> an<00:06:54.580> identical<00:06:54.970> bug<00:06:55.240> our<00:06:56.050> governor 00:06:56.430 --> 00:06:56.440 align:start position:0% it's not an identical bug our governor 00:06:56.440 --> 00:06:58.080 align:start position:0% it's not an identical bug our governor our<00:06:56.680> governor's<00:06:57.280> contract<00:06:57.729> and<00:06:57.880> sort<00:06:58.030> of 00:06:58.080 --> 00:06:58.090 align:start position:0% our governor's contract and sort of 00:06:58.090 --> 00:06:59.520 align:start position:0% our governor's contract and sort of noticed<00:06:58.479> a<00:06:58.599> divergence<00:06:59.080> between<00:06:59.199> these 00:06:59.520 --> 00:06:59.530 align:start position:0% noticed a divergence between these 00:06:59.530 --> 00:07:02.370 align:start position:0% noticed a divergence between these contracts<00:06:59.979> and<00:07:00.250> pay<00:07:00.370> the<00:07:00.430> bounty<00:07:01.380> sometimes 00:07:02.370 --> 00:07:02.380 align:start position:0% contracts and pay the bounty sometimes 00:07:02.380 --> 00:07:03.600 align:start position:0% contracts and pay the bounty sometimes though<00:07:02.560> we<00:07:02.680> have<00:07:02.800> no<00:07:02.979> gap<00:07:03.160> and<00:07:03.340> this<00:07:03.430> is<00:07:03.580> a 00:07:03.600 --> 00:07:03.610 align:start position:0% though we have no gap and this is a 00:07:03.610 --> 00:07:05.550 align:start position:0% though we have no gap and this is a little<00:07:03.729> bit<00:07:03.910> unavoidable<00:07:04.419> so<00:07:04.599> if<00:07:04.660> all<00:07:04.870> of<00:07:05.470> your 00:07:05.550 --> 00:07:05.560 align:start position:0% little bit unavoidable so if all of your 00:07:05.560 --> 00:07:07.230 align:start position:0% little bit unavoidable so if all of your heads<00:07:05.800> all<00:07:06.039> of<00:07:06.160> your<00:07:06.250> n<00:07:06.370> heads<00:07:06.639> have<00:07:06.910> the<00:07:07.060> same 00:07:07.230 --> 00:07:07.240 align:start position:0% heads all of your n heads have the same 00:07:07.240 --> 00:07:10.140 align:start position:0% heads all of your n heads have the same exact<00:07:07.539> bug<00:07:07.780> then<00:07:08.110> unfortunately<00:07:08.650> you're<00:07:09.490> sort 00:07:10.140 --> 00:07:10.150 align:start position:0% exact bug then unfortunately you're sort 00:07:10.150 --> 00:07:13.050 align:start position:0% exact bug then unfortunately you're sort of<00:07:10.270> out<00:07:11.229> of<00:07:11.289> luck<00:07:11.590> and<00:07:11.860> the<00:07:12.490> attacker<00:07:12.759> can 00:07:13.050 --> 00:07:13.060 align:start position:0% of out of luck and the attacker can 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compiler<00:07:20.169> or<00:07:20.349> EVM<00:07:20.740> bug<00:07:20.979> or<00:07:21.430> a<00:07:21.460> bug<00:07:21.789> in<00:07:21.940> your 00:07:22.050 --> 00:07:22.060 align:start position:0% compiler or EVM bug or a bug in your 00:07:22.060 --> 00:07:23.399 align:start position:0% compiler or EVM bug or a bug in your specification<00:07:22.780> that<00:07:22.900> sort<00:07:23.110> of<00:07:23.169> all<00:07:23.289> your 00:07:23.399 --> 00:07:23.409 align:start position:0% specification that sort of all your 00:07:23.409 --> 00:07:25.260 align:start position:0% specification that sort of all your contracts<00:07:23.830> implemented<00:07:24.370> so<00:07:25.000> it's<00:07:25.120> not<00:07:25.210> a 00:07:25.260 --> 00:07:25.270 align:start position:0% contracts implemented so it's not a 00:07:25.270 --> 00:07:27.480 align:start position:0% contracts implemented so it's not a perfect<00:07:25.449> system<00:07:25.750> but<00:07:26.080> still<00:07:26.560> we<00:07:26.800> say<00:07:26.979> let's 00:07:27.480 --> 00:07:27.490 align:start position:0% perfect system but still we say let's 00:07:27.490 --> 00:07:29.339 align:start position:0% perfect system but still we say let's bring<00:07:27.669> back<00:07:27.819> the<00:07:27.880> 80s<00:07:28.300> and<00:07:28.659> maybe<00:07:28.900> we<00:07:29.110> can<00:07:29.259> do 00:07:29.339 --> 00:07:29.349 align:start position:0% bring back the 80s and maybe we can do 00:07:29.349 --> 00:07:31.800 align:start position:0% bring back the 80s and maybe we can do something<00:07:29.560> cool<00:07:29.889> with<00:07:29.949> this<00:07:30.190> system<00:07:30.810> all 00:07:31.800 --> 00:07:31.810 align:start position:0% something cool with this system all 00:07:31.810 --> 00:07:33.120 align:start position:0% something cool with this system all right<00:07:31.870> let's<00:07:32.110> take<00:07:32.199> a<00:07:32.259> look<00:07:32.319> at<00:07:32.530> some<00:07:32.740> of<00:07:32.770> the 00:07:33.120 --> 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position:0% parody multi-sig the dow a smart billions<00:07:39.400> etc<00:07:39.849> so<00:07:40.419> here<00:07:40.599> we've<00:07:40.750> sort<00:07:40.930> of 00:07:40.980 --> 00:07:40.990 align:start position:0% billions etc so here we've sort of 00:07:40.990 --> 00:07:43.409 align:start position:0% billions etc so here we've sort of highlighted<00:07:41.380> in<00:07:41.500> green<00:07:41.680> the<00:07:42.190> the<00:07:42.419> exploits 00:07:43.409 --> 00:07:43.419 align:start position:0% highlighted in green the the exploits 00:07:43.419 --> 00:07:45.180 align:start position:0% highlighted in green the the exploits which<00:07:43.569> we<00:07:43.720> believe<00:07:43.990> that<00:07:44.289> this<00:07:44.740> kind<00:07:45.009> of 00:07:45.180 --> 00:07:45.190 align:start position:0% which we believe that this kind of 00:07:45.190 --> 00:07:47.999 align:start position:0% which we believe that this kind of methodology<00:07:45.520> could<00:07:45.940> address<00:07:46.150> very<00:07:46.659> easily<00:07:47.009> in 00:07:47.999 --> 00:07:48.009 align:start position:0% methodology could address very easily in 00:07:48.009 --> 00:07:49.770 align:start position:0% methodology could address very easily in red<00:07:48.370> which<00:07:48.580> you<00:07:48.699> can't<00:07:48.909> tell<00:07:49.090> is<00:07:49.210> read<00:07:49.389> sort<00:07:49.719> of 00:07:49.770 --> 00:07:49.780 align:start position:0% red which you can't tell is read sort of 00:07:49.780 --> 00:07:51.540 align:start position:0% red which you can't tell is read sort of this<00:07:49.900> bottom<00:07:50.199> line<00:07:50.349> the<00:07:50.949> ones<00:07:51.099> that<00:07:51.250> we<00:07:51.340> can't 00:07:51.540 --> 00:07:51.550 align:start position:0% this bottom line the ones that we can't 00:07:51.550 --> 00:07:54.300 align:start position:0% this bottom line the ones that we can't address<00:07:51.759> because<00:07:52.719> for<00:07:53.590> reasons<00:07:53.860> described<00:07:54.190> in 00:07:54.300 --> 00:07:54.310 align:start position:0% address because for reasons described in 00:07:54.310 --> 00:07:56.820 align:start position:0% address because for reasons described in the<00:07:54.370> paper<00:07:54.490> we<00:07:54.699> don't<00:07:54.880> handle<00:07:55.150> gas<00:07:55.330> issues<00:07:55.830> as 00:07:56.820 --> 00:07:56.830 align:start position:0% the paper we don't handle gas issues as 00:07:56.830 --> 00:07:58.920 align:start position:0% the paper we don't handle gas issues as well<00:07:57.340> as<00:07:57.550> ones<00:07:58.030> that<00:07:58.240> maybe<00:07:58.509> could<00:07:58.810> have<00:07:58.870> been 00:07:58.920 --> 00:07:58.930 align:start position:0% well as ones that maybe could have been 00:07:58.930 --> 00:08:00.240 align:start position:0% well as ones that maybe could have been addressed<00:07:59.320> but<00:07:59.560> it's<00:07:59.800> a<00:07:59.860> little<00:08:00.009> bit<00:08:00.130> more 00:08:00.240 --> 00:08:00.250 align:start position:0% addressed but it's a little bit more 00:08:00.250 --> 00:08:01.620 align:start position:0% addressed but it's a little bit more complicated<00:08:00.789> than<00:08:00.880> just<00:08:00.940> taking<00:08:01.330> a<00:08:01.389> look<00:08:01.539> at 00:08:01.620 --> 00:08:01.630 align:start position:0% complicated than just taking a look at 00:08:01.630 --> 00:08:02.909 align:start position:0% complicated than just taking a look at it<00:08:01.750> and<00:08:01.870> saying<00:08:02.080> yeah<00:08:02.259> definitely<00:08:02.770> this<00:08:02.860> is 00:08:02.909 --> 00:08:02.919 align:start position:0% it and saying yeah definitely this is 00:08:02.919 --> 00:08:06.149 align:start position:0% it and saying yeah definitely this is okay<00:08:03.659> so<00:08:04.659> what<00:08:05.050> I'm<00:08:05.259> gonna<00:08:05.380> say<00:08:05.590> is<00:08:05.740> five<00:08:05.949> and<00:08:06.099> a 00:08:06.149 --> 00:08:06.159 align:start position:0% okay so what I'm gonna say is five and a 00:08:06.159 --> 00:08:07.890 align:start position:0% okay so what I'm gonna say is five and a half<00:08:06.280> out<00:08:06.460> of<00:08:06.490> seven<00:08:06.849> is<00:08:06.969> not<00:08:07.060> bad<00:08:07.300> and<00:08:07.539> it's<00:08:07.810> a 00:08:07.890 --> 00:08:07.900 align:start position:0% half out of seven is not bad and it's a 00:08:07.900 --> 00:08:09.330 align:start position:0% half out of seven is not bad and it's a great<00:08:08.050> start<00:08:08.349> towards<00:08:08.770> achieving<00:08:09.009> the<00:08:09.159> sort 00:08:09.330 --> 00:08:09.340 align:start position:0% great start towards achieving the sort 00:08:09.340 --> 00:08:11.219 align:start position:0% great start towards achieving the sort of<00:08:09.430> rigorous<00:08:09.669> security<00:08:10.240> that<00:08:10.419> our<00:08:10.569> ecosystem 00:08:11.219 --> 00:08:11.229 align:start position:0% of rigorous security that our ecosystem 00:08:11.229 --> 00:08:14.909 align:start position:0% of rigorous security that our ecosystem demands<00:08:12.690> all<00:08:13.690> right<00:08:13.930> so<00:08:14.259> a<00:08:14.289> warning<00:08:14.650> we<00:08:14.889> got 00:08:14.909 --> 00:08:14.919 align:start position:0% demands all right so a warning we got 00:08:14.919 --> 00:08:17.010 align:start position:0% demands all right so a warning we got some<00:08:15.190> math<00:08:15.370> coming<00:08:15.639> up<00:08:15.849> so<00:08:16.150> if<00:08:16.539> you<00:08:16.569> hate<00:08:16.810> math 00:08:17.010 --> 00:08:17.020 align:start position:0% some math coming up so if you hate math 00:08:17.020 --> 00:08:18.360 align:start position:0% some math coming up so if you hate math you<00:08:17.259> might<00:08:17.380> want<00:08:17.530> to<00:08:17.590> tune<00:08:17.710> out<00:08:17.889> for<00:08:18.069> about<00:08:18.159> the 00:08:18.360 --> 00:08:18.370 align:start position:0% you might want to tune out for about the 00:08:18.370 --> 00:08:21.149 align:start position:0% you might want to tune out for about the next<00:08:18.550> three<00:08:18.789> minutes<00:08:19.620> so<00:08:20.620> this<00:08:20.770> is<00:08:20.889> sort<00:08:21.130> of 00:08:21.149 --> 00:08:21.159 align:start position:0% next three minutes so this is sort of 00:08:21.159 --> 00:08:22.860 align:start position:0% next three minutes so this is sort of the<00:08:21.280> crypto<00:08:21.580> economic<00:08:22.030> analysis<00:08:22.479> I<00:08:22.690> was 00:08:22.860 --> 00:08:22.870 align:start position:0% the crypto economic analysis I was 00:08:22.870 --> 00:08:24.990 align:start position:0% the crypto economic analysis I was telling<00:08:23.199> you<00:08:23.289> guys<00:08:23.319> before<00:08:23.860> so<00:08:24.610> we<00:08:24.729> want<00:08:24.880> to 00:08:24.990 --> 00:08:25.000 align:start position:0% telling you guys before so we want to 00:08:25.000 --> 00:08:27.540 align:start position:0% telling you guys before so we want to ask<00:08:25.150> sort<00:08:25.419> of<00:08:25.479> the<00:08:25.599> question<00:08:25.930> when<00:08:26.590> is<00:08:26.949> honest 00:08:27.540 --> 00:08:27.550 align:start position:0% ask sort of the question when is honest 00:08:27.550 --> 00:08:28.740 align:start position:0% ask sort of the question when is honest behavior<00:08:27.940> incentivized 00:08:28.740 --> 00:08:28.750 align:start position:0% behavior incentivized 00:08:28.750 --> 00:08:30.659 align:start position:0% behavior incentivized so<00:08:28.990> honest<00:08:29.289> behavior<00:08:29.620> is<00:08:29.770> incentivized<00:08:30.400> when 00:08:30.659 --> 00:08:30.669 align:start position:0% so honest behavior is incentivized when 00:08:30.669 --> 00:08:32.490 align:start position:0% so honest behavior is incentivized when the<00:08:30.819> payout<00:08:31.150> of<00:08:31.330> the<00:08:31.719> adversary<00:08:32.229> for 00:08:32.490 --> 00:08:32.500 align:start position:0% the payout of the adversary for 00:08:32.500 --> 00:08:33.719 align:start position:0% the payout of the adversary for following<00:08:32.740> the<00:08:32.860> honest<00:08:33.159> strategy<00:08:33.550> that's 00:08:33.719 --> 00:08:33.729 align:start position:0% following the honest strategy that's 00:08:33.729 --> 00:08:36.029 align:start position:0% following the honest strategy that's this<00:08:33.880> payouts<00:08:34.180> of<00:08:34.360> age<00:08:34.620> over<00:08:35.620> the<00:08:35.770> payout<00:08:36.010> of 00:08:36.029 --> 00:08:36.039 align:start position:0% this payouts of age over the payout of 00:08:36.039 --> 00:08:37.290 align:start position:0% this payouts of age over the payout of the<00:08:36.219> adversary<00:08:36.729> for<00:08:36.940> following<00:08:37.180> the 00:08:37.290 --> 00:08:37.300 align:start position:0% the adversary for following the 00:08:37.300 --> 00:08:38.839 align:start position:0% the adversary for following the malicious<00:08:37.630> strategy<00:08:38.020> is<00:08:38.140> greater<00:08:38.380> than<00:08:38.529> one 00:08:38.839 --> 00:08:38.849 align:start position:0% malicious strategy is greater than one 00:08:38.849 --> 00:08:40.949 align:start position:0% malicious strategy is greater than one indicating<00:08:39.849> that<00:08:39.880> the<00:08:40.060> honest<00:08:40.360> strategy<00:08:40.750> is 00:08:40.949 --> 00:08:40.959 align:start position:0% indicating that the honest strategy is 00:08:40.959 --> 00:08:42.659 align:start position:0% indicating that the honest strategy is expected<00:08:41.440> to<00:08:41.529> pay<00:08:41.649> the<00:08:41.800> adversary<00:08:42.279> more<00:08:42.490> than 00:08:42.659 --> 00:08:42.669 align:start position:0% expected to pay the adversary more than 00:08:42.669 --> 00:08:44.819 align:start position:0% expected to pay the adversary more than the<00:08:42.729> malicious<00:08:43.060> strategy<00:08:43.500> so<00:08:44.500> it's<00:08:44.529> to<00:08:44.680> sort 00:08:44.819 --> 00:08:44.829 align:start position:0% the malicious strategy so it's to sort 00:08:44.829 --> 00:08:46.440 align:start position:0% the malicious strategy so it's to sort of<00:08:44.890> arrive<00:08:45.130> at<00:08:45.250> our<00:08:45.310> analysis<00:08:45.790> we<00:08:45.940> model<00:08:46.270> bug 00:08:46.440 --> 00:08:46.450 align:start position:0% of arrive at our analysis we model bug 00:08:46.450 --> 00:08:49.890 align:start position:0% of arrive at our analysis we model bug finding<00:08:46.690> as<00:08:46.959> a<00:08:46.990> Poisson<00:08:47.529> process<00:08:48.390> so<00:08:49.390> these<00:08:49.570> t 00:08:49.890 --> 00:08:49.900 align:start position:0% finding as a Poisson process so these t 00:08:49.900 --> 00:08:52.800 align:start position:0% finding as a Poisson process so these t T<00:08:50.410> variables<00:08:50.949> over<00:08:51.220> here<00:08:51.250> sort<00:08:52.000> of<00:08:52.089> are<00:08:52.360> random 00:08:52.800 --> 00:08:52.810 align:start position:0% T variables over here sort of are random 00:08:52.810 --> 00:08:53.460 align:start position:0% T variables over here sort of are random variables 00:08:53.460 --> 00:08:53.470 align:start position:0% variables 00:08:53.470 --> 00:08:55.710 align:start position:0% variables modeling<00:08:53.860> the<00:08:53.950> time<00:08:54.130> either<00:08:54.940> an<00:08:55.420> honest 00:08:55.710 --> 00:08:55.720 align:start position:0% modeling the time either an honest 00:08:55.720 --> 00:08:57.180 align:start position:0% modeling the time either an honest player<00:08:55.960> or<00:08:56.170> a<00:08:56.200> malicious<00:08:56.440> player<00:08:56.710> is<00:08:56.920> going<00:08:57.100> to 00:08:57.180 --> 00:08:57.190 align:start position:0% player or a malicious player is going to 00:08:57.190 --> 00:08:59.850 align:start position:0% player or a malicious player is going to find<00:08:57.430> an<00:08:57.520> exploit<00:08:57.880> and<00:08:58.870> this<00:08:59.050> gap<00:08:59.290> variable 00:08:59.850 --> 00:08:59.860 align:start position:0% find an exploit and this gap variable 00:08:59.860 --> 00:09:01.770 align:start position:0% find an exploit and this gap variable here<00:09:00.070> is<00:09:00.100> sort<00:09:00.610> of<00:09:00.700> the<00:09:00.880> the<00:09:01.120> size<00:09:01.480> of<00:09:01.690> the 00:09:01.770 --> 00:09:01.780 align:start position:0% here is sort of the the size of the 00:09:01.780 --> 00:09:03.210 align:start position:0% here is sort of the the size of the exploit<00:09:02.170> gap<00:09:02.320> we<00:09:02.470> managed<00:09:02.740> to<00:09:02.860> achieve<00:09:02.950> with 00:09:03.210 --> 00:09:03.220 align:start position:0% exploit gap we managed to achieve with 00:09:03.220 --> 00:09:06.150 align:start position:0% exploit gap we managed to achieve with our<00:09:03.250> contract<00:09:04.680> what<00:09:05.680> does<00:09:05.800> that<00:09:05.830> look<00:09:06.100> like 00:09:06.150 --> 00:09:06.160 align:start position:0% our contract what does that look like 00:09:06.160 --> 00:09:09.120 align:start position:0% our contract what does that look like well<00:09:06.970> we<00:09:07.570> do<00:09:07.960> this<00:09:08.050> analysis<00:09:08.560> that<00:09:08.710> involves 00:09:09.120 --> 00:09:09.130 align:start position:0% well we do this analysis that involves 00:09:09.130 --> 00:09:11.100 align:start position:0% well we do this analysis that involves defining<00:09:09.610> an<00:09:09.970> ideal<00:09:10.210> functionality<00:09:10.870> which 00:09:11.100 --> 00:09:11.110 align:start position:0% defining an ideal functionality which 00:09:11.110 --> 00:09:12.750 align:start position:0% defining an ideal functionality which you<00:09:11.230> never<00:09:11.350> actually<00:09:11.620> have<00:09:11.950> to<00:09:12.100> define<00:09:12.550> as<00:09:12.730> a 00:09:12.750 --> 00:09:12.760 align:start position:0% you never actually have to define as a 00:09:12.760 --> 00:09:14.250 align:start position:0% you never actually have to define as a user<00:09:13.000> of<00:09:13.120> the<00:09:13.240> Hydra<00:09:13.540> framework<00:09:13.870> but<00:09:14.020> it<00:09:14.110> sort 00:09:14.250 --> 00:09:14.260 align:start position:0% user of the Hydra framework but it sort 00:09:14.260 --> 00:09:16.320 align:start position:0% user of the Hydra framework but it sort of<00:09:14.350> represents<00:09:15.280> in<00:09:15.340> our<00:09:15.460> analysis<00:09:15.940> the 00:09:16.320 --> 00:09:16.330 align:start position:0% of represents in our analysis the 00:09:16.330 --> 00:09:17.700 align:start position:0% of represents in our analysis the functionality<00:09:16.870> the<00:09:16.990> developers<00:09:17.410> had<00:09:17.590> in 00:09:17.700 --> 00:09:17.710 align:start position:0% functionality the developers had in 00:09:17.710 --> 00:09:19.920 align:start position:0% functionality the developers had in their<00:09:17.830> mind<00:09:18.010> when<00:09:18.160> they<00:09:18.250> created<00:09:18.520> it<00:09:18.700> and<00:09:19.600> if 00:09:19.920 --> 00:09:19.930 align:start position:0% their mind when they created it and if 00:09:19.930 --> 00:09:23.390 align:start position:0% their mind when they created it and if you<00:09:20.110> have<00:09:20.320> if<00:09:20.470> you<00:09:20.500> have<00:09:20.740> this<00:09:20.950> P<00:09:21.660> where<00:09:22.660> we're 00:09:23.390 --> 00:09:23.400 align:start position:0% you have if you have this P where we're 00:09:23.400 --> 00:09:27.840 align:start position:0% you have if you have this P where we're sorry<00:09:24.400> if<00:09:24.610> you<00:09:24.790> have<00:09:24.970> this<00:09:25.300> if<00:09:26.260> you<00:09:27.070> have<00:09:27.220> the 00:09:27.840 --> 00:09:27.850 align:start position:0% sorry if you have this if you have the 00:09:27.850 --> 00:09:30.030 align:start position:0% sorry if you have this if you have the number<00:09:28.090> of<00:09:28.180> total<00:09:28.360> heads<00:09:28.660> the<00:09:29.620> space<00:09:29.800> of<00:09:29.980> all 00:09:30.030 --> 00:09:30.040 align:start position:0% number of total heads the space of all 00:09:30.040 --> 00:09:31.800 align:start position:0% number of total heads the space of all exploits<00:09:30.460> and<00:09:30.670> you<00:09:30.730> sort<00:09:30.940> of<00:09:31.000> randomly<00:09:31.360> sample 00:09:31.800 --> 00:09:31.810 align:start position:0% exploits and you sort of randomly sample 00:09:31.810 --> 00:09:33.180 align:start position:0% exploits and you sort of randomly sample a<00:09:31.870> bug<00:09:32.050> and<00:09:32.290> you<00:09:32.350> can<00:09:32.530> get<00:09:32.650> this<00:09:32.770> P<00:09:32.980> which<00:09:33.160> is 00:09:33.180 --> 00:09:33.190 align:start position:0% a bug and you can get this P which is 00:09:33.190 --> 00:09:34.610 align:start position:0% a bug and you can get this P which is the<00:09:33.400> probability<00:09:33.700> that<00:09:33.880> that<00:09:34.150> will<00:09:34.270> apply<00:09:34.450> to 00:09:34.610 --> 00:09:34.620 align:start position:0% the probability that that will apply to 00:09:34.620 --> 00:09:38.130 align:start position:0% the probability that that will apply to one<00:09:35.620> of<00:09:35.710> the<00:09:35.800> heads<00:09:36.180> then<00:09:37.180> you<00:09:37.360> can<00:09:37.540> rigorously 00:09:38.130 --> 00:09:38.140 align:start position:0% one of the heads then you can rigorously 00:09:38.140 --> 00:09:40.080 align:start position:0% one of the heads then you can rigorously quantify<00:09:38.650> it<00:09:38.710> and<00:09:38.980> even<00:09:39.130> graft<00:09:39.460> your<00:09:39.730> exploit 00:09:40.080 --> 00:09:40.090 align:start position:0% quantify it and even graft your exploit 00:09:40.090 --> 00:09:42.480 align:start position:0% quantify it and even graft your exploit gap<00:09:40.270> which<00:09:40.630> is<00:09:40.660> nice<00:09:41.100> the<00:09:42.100> nice<00:09:42.220> thing<00:09:42.400> to 00:09:42.480 --> 00:09:42.490 align:start position:0% gap which is nice the nice thing to 00:09:42.490 --> 00:09:44.070 align:start position:0% gap which is nice the nice thing to notice<00:09:42.640> here<00:09:42.910> is<00:09:42.940> that<00:09:43.060> this<00:09:43.360> exploit<00:09:43.720> gap<00:09:43.900> is 00:09:44.070 --> 00:09:44.080 align:start position:0% notice here is that this exploit gap is 00:09:44.080 --> 00:09:45.750 align:start position:0% notice here is that this exploit gap is exponential<00:09:44.770> in<00:09:44.860> n<00:09:44.980> which<00:09:45.280> is<00:09:45.400> the<00:09:45.430> number<00:09:45.730> of 00:09:45.750 --> 00:09:45.760 align:start position:0% exponential in n which is the number of 00:09:45.760 --> 00:09:48.270 align:start position:0% exponential in n which is the number of heads<00:09:46.000> that<00:09:46.090> you<00:09:46.240> do<00:09:46.540> in<00:09:47.140> your<00:09:47.200> contract<00:09:47.740> so 00:09:48.270 --> 00:09:48.280 align:start position:0% heads that you do in your contract so 00:09:48.280 --> 00:09:49.350 align:start position:0% heads that you do in your contract so even<00:09:48.640> if<00:09:48.730> you<00:09:48.820> don't<00:09:48.940> have<00:09:49.150> perfect 00:09:49.350 --> 00:09:49.360 align:start position:0% even if you don't have perfect 00:09:49.360 --> 00:09:50.790 align:start position:0% even if you don't have perfect independence<00:09:49.900> among<00:09:50.080> your<00:09:50.200> heads<00:09:50.380> even<00:09:50.590> if 00:09:50.790 --> 00:09:50.800 align:start position:0% independence among your heads even if 00:09:50.800 --> 00:09:52.500 align:start position:0% independence among your heads even if bugs<00:09:51.010> are<00:09:51.190> somewhat<00:09:51.490> correlated<00:09:52.000> or<00:09:52.060> likely 00:09:52.500 --> 00:09:52.510 align:start position:0% bugs are somewhat correlated or likely 00:09:52.510 --> 00:09:54.810 align:start position:0% bugs are somewhat correlated or likely to<00:09:52.660> affect<00:09:53.380> multiple<00:09:53.620> heads<00:09:54.070> in<00:09:54.310> your<00:09:54.340> system 00:09:54.810 --> 00:09:54.820 align:start position:0% to affect multiple heads in your system 00:09:54.820 --> 00:09:56.670 align:start position:0% to affect multiple heads in your system you<00:09:55.510> still<00:09:55.750> might<00:09:55.990> create<00:09:56.290> a<00:09:56.350> large<00:09:56.620> enough 00:09:56.670 --> 00:09:56.680 align:start position:0% you still might create a large enough 00:09:56.680 --> 00:09:58.830 align:start position:0% you still might create a large enough gap<00:09:57.070> and<00:09:57.340> enough<00:09:57.550> independence<00:09:57.880> to<00:09:58.510> have<00:09:58.660> this 00:09:58.830 --> 00:09:58.840 align:start position:0% gap and enough independence to have this 00:09:58.840 --> 00:10:00.900 align:start position:0% gap and enough independence to have this sort<00:09:59.140> of<00:09:59.200> governance<00:09:59.980> contract<00:10:00.460> detect<00:10:00.790> the 00:10:00.900 --> 00:10:00.910 align:start position:0% sort of governance contract detect the 00:10:00.910 --> 00:10:03.930 align:start position:0% sort of governance contract detect the error<00:10:01.860> so<00:10:02.860> that's<00:10:03.010> a<00:10:03.070> really<00:10:03.220> nice<00:10:03.400> result<00:10:03.610> and 00:10:03.930 --> 00:10:03.940 align:start position:0% error so that's a really nice result and 00:10:03.940 --> 00:10:05.310 align:start position:0% error so that's a really nice result and it<00:10:04.000> kind<00:10:04.180> of<00:10:04.240> differs<00:10:04.570> from<00:10:04.720> classical 00:10:05.310 --> 00:10:05.320 align:start position:0% it kind of differs from classical 00:10:05.320 --> 00:10:07.020 align:start position:0% it kind of differs from classical inversion<00:10:06.010> programming<00:10:06.430> where<00:10:06.610> you<00:10:06.640> do 00:10:07.020 --> 00:10:07.030 align:start position:0% inversion programming where you do 00:10:07.030 --> 00:10:08.610 align:start position:0% inversion programming where you do something<00:10:07.240> like<00:10:07.330> take<00:10:07.750> the<00:10:07.870> average<00:10:08.290> of<00:10:08.530> a 00:10:08.610 --> 00:10:08.620 align:start position:0% something like take the average of a 00:10:08.620 --> 00:10:10.770 align:start position:0% something like take the average of a bunch<00:10:08.770> of<00:10:08.860> different<00:10:09.160> programs<00:10:09.330> and<00:10:10.330> then<00:10:10.510> one 00:10:10.770 --> 00:10:10.780 align:start position:0% bunch of different programs and then one 00:10:10.780 --> 00:10:12.840 align:start position:0% bunch of different programs and then one program<00:10:11.200> being<00:10:11.410> off<00:10:11.620> could<00:10:11.950> badly<00:10:12.370> damage 00:10:12.840 --> 00:10:12.850 align:start position:0% program being off could badly damage 00:10:12.850 --> 00:10:14.370 align:start position:0% program being off could badly damage your<00:10:13.000> input<00:10:13.300> and<00:10:13.510> sort<00:10:13.870> of<00:10:13.900> lose<00:10:14.110> you<00:10:14.260> all 00:10:14.370 --> 00:10:14.380 align:start position:0% your input and sort of lose you all 00:10:14.380 --> 00:10:17.340 align:start position:0% your input and sort of lose you all assurance<00:10:15.420> all<00:10:16.420> right<00:10:16.540> so<00:10:16.720> let's<00:10:16.960> get<00:10:17.050> back<00:10:17.230> to 00:10:17.340 --> 00:10:17.350 align:start position:0% assurance all right so let's get back to 00:10:17.350 --> 00:10:18.930 align:start position:0% assurance all right so let's get back to earth<00:10:17.470> if<00:10:17.890> you<00:10:18.040> tuned<00:10:18.220> out<00:10:18.370> for<00:10:18.550> the<00:10:18.610> math<00:10:18.760> you 00:10:18.930 --> 00:10:18.940 align:start position:0% earth if you tuned out for the math you 00:10:18.940 --> 00:10:21.900 align:start position:0% earth if you tuned out for the math you can<00:10:19.060> come<00:10:19.210> back<00:10:19.390> now<00:10:19.920> so<00:10:20.920> what<00:10:21.490> are<00:10:21.580> we<00:10:21.670> doing 00:10:21.900 --> 00:10:21.910 align:start position:0% can come back now so what are we doing 00:10:21.910 --> 00:10:23.700 align:start position:0% can come back now so what are we doing so<00:10:22.120> we're<00:10:22.240> launching<00:10:22.390> an<00:10:22.660> ER<00:10:22.840> c20<00:10:23.230> mountie 00:10:23.700 --> 00:10:23.710 align:start position:0% so we're launching an ER c20 mountie 00:10:23.710 --> 00:10:25.500 align:start position:0% so we're launching an ER c20 mountie details<00:10:24.190> about<00:10:24.460> that<00:10:24.610> are<00:10:24.790> available<00:10:25.090> at<00:10:25.420> our 00:10:25.500 --> 00:10:25.510 align:start position:0% details about that are available at our 00:10:25.510 --> 00:10:28.110 align:start position:0% details about that are available at our website<00:10:25.900> the<00:10:26.080> Hydra<00:10:26.350> do<00:10:26.680> we<00:10:27.550> have<00:10:27.700> it<00:10:27.820> funded 00:10:28.110 --> 00:10:28.120 align:start position:0% website the Hydra do we have it funded 00:10:28.120 --> 00:10:29.640 align:start position:0% website the Hydra do we have it funded with<00:10:28.270> a<00:10:28.300> thousand<00:10:28.690> dollars<00:10:28.990> today<00:10:29.230> so<00:10:29.620> a 00:10:29.640 --> 00:10:29.650 align:start position:0% with a thousand dollars today so a 00:10:29.650 --> 00:10:31.560 align:start position:0% with a thousand dollars today so a thousand<00:10:30.250> dollars<00:10:30.520> is<00:10:30.670> the<00:10:30.790> reward<00:10:30.940> for<00:10:31.210> sort 00:10:31.560 --> 00:10:31.570 align:start position:0% thousand dollars is the reward for sort 00:10:31.570 --> 00:10:32.910 align:start position:0% thousand dollars is the reward for sort of<00:10:31.630> breaking<00:10:32.050> the<00:10:32.140> full<00:10:32.320> contract<00:10:32.770> and 00:10:32.910 --> 00:10:32.920 align:start position:0% of breaking the full contract and 00:10:32.920 --> 00:10:34.740 align:start position:0% of breaking the full contract and achieving<00:10:33.250> that<00:10:33.340> full<00:10:33.580> dollars<00:10:33.970> a<00:10:34.180> exploit<00:10:34.720> I 00:10:34.740 --> 00:10:34.750 align:start position:0% achieving that full dollars a exploit I 00:10:34.750 --> 00:10:36.870 align:start position:0% achieving that full dollars a exploit I talked<00:10:35.020> about<00:10:35.110> in<00:10:35.350> the<00:10:35.410> first<00:10:35.620> slide<00:10:35.820> if<00:10:36.820> you 00:10:36.870 --> 00:10:36.880 align:start position:0% talked about in the first slide if you 00:10:36.880 --> 00:10:38.280 align:start position:0% talked about in the first slide if you only<00:10:37.240> managed<00:10:37.450> to<00:10:37.600> break<00:10:37.720> one<00:10:37.930> of<00:10:37.960> our<00:10:38.110> heads 00:10:38.280 --> 00:10:38.290 align:start position:0% only managed to break one of our heads 00:10:38.290 --> 00:10:40.290 align:start position:0% only managed to break one of our heads and<00:10:38.500> are<00:10:38.680> our<00:10:38.920> governor's<00:10:39.340> contract<00:10:39.970> manages 00:10:40.290 --> 00:10:40.300 align:start position:0% and are our governor's contract manages 00:10:40.300 --> 00:10:42.240 align:start position:0% and are our governor's contract manages to<00:10:40.420> catch<00:10:40.570> your<00:10:40.750> issue<00:10:40.900> then<00:10:41.560> you<00:10:41.680> get<00:10:42.070> paid 00:10:42.240 --> 00:10:42.250 align:start position:0% to catch your issue then you get paid 00:10:42.250 --> 00:10:43.830 align:start position:0% to catch your issue then you get paid 1/10<00:10:42.700> of<00:10:42.790> that<00:10:42.850> which<00:10:43.150> today<00:10:43.390> is<00:10:43.510> a<00:10:43.540> hundred 00:10:43.830 --> 00:10:43.840 align:start position:0% 1/10 of that which today is a hundred 00:10:43.840 --> 00:10:46.560 align:start position:0% 1/10 of that which today is a hundred dollars<00:10:44.110> why<00:10:45.100> so<00:10:45.310> low<00:10:45.520> well<00:10:45.940> this<00:10:46.420> is<00:10:46.540> a 00:10:46.560 --> 00:10:46.570 align:start position:0% dollars why so low well this is a 00:10:46.570 --> 00:10:48.060 align:start position:0% dollars why so low well this is a research<00:10:46.870> prototype<00:10:47.350> and<00:10:47.500> we're<00:10:47.650> still<00:10:47.860> sort 00:10:48.060 --> 00:10:48.070 align:start position:0% research prototype and we're still sort 00:10:48.070 --> 00:10:49.620 align:start position:0% research prototype and we're still sort of<00:10:48.130> undergoing<00:10:48.520> testing<00:10:48.970> and<00:10:49.150> we<00:10:49.240> expect<00:10:49.570> to 00:10:49.620 --> 00:10:49.630 align:start position:0% of undergoing testing and we expect to 00:10:49.630 --> 00:10:51.900 align:start position:0% of undergoing testing and we expect to rapidly<00:10:50.050> iterate<00:10:50.260> this<00:10:50.500> our<00:10:51.100> hope<00:10:51.430> is<00:10:51.670> within 00:10:51.900 --> 00:10:51.910 align:start position:0% rapidly iterate this our hope is within 00:10:51.910 --> 00:10:53.700 align:start position:0% rapidly iterate this our hope is within the<00:10:52.030> next<00:10:52.270> six<00:10:52.450> months<00:10:52.570> or<00:10:52.780> so<00:10:52.840> to<00:10:53.020> ramp<00:10:53.380> up<00:10:53.530> to 00:10:53.700 --> 00:10:53.710 align:start position:0% the next six months or so to ramp up to 00:10:53.710 --> 00:10:55.260 align:start position:0% the next six months or so to ramp up to a<00:10:53.740> 50,000<00:10:54.460> dollar<00:10:54.520> bounty<00:10:54.910> on<00:10:55.180> the 00:10:55.260 --> 00:10:55.270 align:start position:0% a 50,000 dollar bounty on the 00:10:55.270 --> 00:10:55.790 align:start position:0% a 50,000 dollar bounty on the maintenance 00:10:55.790 --> 00:10:55.800 align:start position:0% maintenance 00:10:55.800 --> 00:10:58.020 align:start position:0% maintenance the<00:10:56.800> contract<00:10:57.190> that<00:10:57.280> we<00:10:57.400> have<00:10:57.430> deployed<00:10:57.670> right 00:10:58.020 --> 00:10:58.030 align:start position:0% the contract that we have deployed right 00:10:58.030 --> 00:11:00.360 align:start position:0% the contract that we have deployed right now<00:10:58.180> is<00:10:58.420> just<00:10:58.930> an<00:10:59.020> e<00:10:59.170> rc<00:10:59.320> 20<00:10:59.740> that's<00:10:59.860> one-to-one 00:11:00.360 --> 00:11:00.370 align:start position:0% now is just an e rc 20 that's one-to-one 00:11:00.370 --> 00:11:02.730 align:start position:0% now is just an e rc 20 that's one-to-one peg<00:11:00.640> to<00:11:00.790> ether<00:11:01.090> and<00:11:01.270> it's<00:11:02.080> running<00:11:02.500> to 00:11:02.730 --> 00:11:02.740 align:start position:0% peg to ether and it's running to 00:11:02.740 --> 00:11:04.350 align:start position:0% peg to ether and it's running to solidity<00:11:03.100> implementations<00:11:03.790> one<00:11:04.120> Viper 00:11:04.350 --> 00:11:04.360 align:start position:0% solidity implementations one Viper 00:11:04.360 --> 00:11:05.730 align:start position:0% solidity implementations one Viper implementation<00:11:05.050> and<00:11:05.260> one<00:11:05.410> serpent 00:11:05.730 --> 00:11:05.740 align:start position:0% implementation and one serpent 00:11:05.740 --> 00:11:06.450 align:start position:0% implementation and one serpent implementation 00:11:06.450 --> 00:11:06.460 align:start position:0% implementation 00:11:06.460 --> 00:11:08.880 align:start position:0% implementation yes<00:11:07.270> serpent<00:11:07.750> and<00:11:07.990> if<00:11:08.350> you<00:11:08.440> can<00:11:08.620> manage<00:11:08.800> to 00:11:08.880 --> 00:11:08.890 align:start position:0% yes serpent and if you can manage to 00:11:08.890 --> 00:11:10.620 align:start position:0% yes serpent and if you can manage to trigger<00:11:09.220> the<00:11:09.490> bounty<00:11:10.089> with<00:11:10.240> a<00:11:10.270> serpent 00:11:10.620 --> 00:11:10.630 align:start position:0% trigger the bounty with a serpent 00:11:10.630 --> 00:11:12.329 align:start position:0% trigger the bounty with a serpent compiler<00:11:11.020> bug<00:11:11.200> or<00:11:11.440> break<00:11:11.710> the<00:11:11.860> whole<00:11:11.980> contract 00:11:12.329 --> 00:11:12.339 align:start position:0% compiler bug or break the whole contract 00:11:12.339 --> 00:11:13.769 align:start position:0% compiler bug or break the whole contract I'd<00:11:12.580> sort<00:11:12.790> of<00:11:12.850> like<00:11:12.910> to<00:11:13.029> see<00:11:13.240> that<00:11:13.330> happen<00:11:13.390> on 00:11:13.769 --> 00:11:13.779 align:start position:0% I'd sort of like to see that happen on 00:11:13.779 --> 00:11:15.720 align:start position:0% I'd sort of like to see that happen on chain<00:11:14.080> so<00:11:14.440> that<00:11:15.100> should<00:11:15.250> be<00:11:15.339> a<00:11:15.370> little<00:11:15.490> bit<00:11:15.670> of 00:11:15.720 --> 00:11:15.730 align:start position:0% chain so that should be a little bit of 00:11:15.730 --> 00:11:18.570 align:start position:0% chain so that should be a little bit of fun<00:11:16.410> we<00:11:17.410> also<00:11:17.589> believe<00:11:17.920> we've<00:11:18.190> written<00:11:18.399> the 00:11:18.570 --> 00:11:18.580 align:start position:0% fun we also believe we've written the 00:11:18.580 --> 00:11:20.280 align:start position:0% fun we also believe we've written the most<00:11:18.760> thorough<00:11:18.970> ERC<00:11:19.510> 20<00:11:19.750> test<00:11:20.020> suite<00:11:20.170> that's 00:11:20.280 --> 00:11:20.290 align:start position:0% most thorough ERC 20 test suite that's 00:11:20.290 --> 00:11:22.560 align:start position:0% most thorough ERC 20 test suite that's currently<00:11:20.710> available<00:11:21.000> open<00:11:22.000> source<00:11:22.210> and<00:11:22.510> we 00:11:22.560 --> 00:11:22.570 align:start position:0% currently available open source and we 00:11:22.570 --> 00:11:23.790 align:start position:0% currently available open source and we encourage<00:11:23.020> you<00:11:23.110> to<00:11:23.140> check<00:11:23.230> that<00:11:23.410> out<00:11:23.649> on<00:11:23.770> our 00:11:23.790 --> 00:11:23.800 align:start position:0% encourage you to check that out on our 00:11:23.800 --> 00:11:26.250 align:start position:0% encourage you to check that out on our website<00:11:24.300> and<00:11:25.300> if<00:11:25.690> you<00:11:25.810> can<00:11:25.990> propose 00:11:26.250 --> 00:11:26.260 align:start position:0% website and if you can propose 00:11:26.260 --> 00:11:27.480 align:start position:0% website and if you can propose additional<00:11:26.680> tests<00:11:26.860> that<00:11:26.980> we<00:11:27.070> didn't<00:11:27.310> cover 00:11:27.480 --> 00:11:27.490 align:start position:0% additional tests that we didn't cover 00:11:27.490 --> 00:11:30.000 align:start position:0% additional tests that we didn't cover that<00:11:27.760> would<00:11:27.880> also<00:11:28.000> be<00:11:28.149> wonderful<00:11:28.630> and<00:11:28.870> the<00:11:29.709> ERC 00:11:30.000 --> 00:11:30.010 align:start position:0% that would also be wonderful and the ERC 00:11:30.010 --> 00:11:31.620 align:start position:0% that would also be wonderful and the ERC 20<00:11:30.370> viper<00:11:30.580> contract<00:11:31.089> that<00:11:31.180> we<00:11:31.300> wrote<00:11:31.480> has 00:11:31.620 --> 00:11:31.630 align:start position:0% 20 viper contract that we wrote has 00:11:31.630 --> 00:11:33.269 align:start position:0% 20 viper contract that we wrote has actually<00:11:32.020> been<00:11:32.140> merged<00:11:32.380> and<00:11:32.620> integrated<00:11:33.010> into 00:11:33.269 --> 00:11:33.279 align:start position:0% actually been merged and integrated into 00:11:33.279 --> 00:11:35.550 align:start position:0% actually been merged and integrated into Viper<00:11:33.490> as<00:11:33.850> sort<00:11:34.180> of<00:11:34.209> a<00:11:34.300> standard<00:11:34.660> example<00:11:34.810> of 00:11:35.550 --> 00:11:35.560 align:start position:0% Viper as sort of a standard example of 00:11:35.560 --> 00:11:37.800 align:start position:0% Viper as sort of a standard example of how<00:11:35.740> to<00:11:35.800> write<00:11:36.010> in<00:11:36.130> the<00:11:36.220> RC<00:11:36.459> 20<00:11:36.760> so<00:11:37.330> the<00:11:37.420> project 00:11:37.800 --> 00:11:37.810 align:start position:0% how to write in the RC 20 so the project 00:11:37.810 --> 00:11:38.940 align:start position:0% how to write in the RC 20 so the project has<00:11:37.930> already<00:11:38.080> sort<00:11:38.410> of<00:11:38.470> produced<00:11:38.800> some 00:11:38.940 --> 00:11:38.950 align:start position:0% has already sort of produced some 00:11:38.950 --> 00:11:41.400 align:start position:0% has already sort of produced some real-world<00:11:39.160> artifacts<00:11:40.020> we<00:11:41.020> also<00:11:41.170> have<00:11:41.380> a 00:11:41.400 --> 00:11:41.410 align:start position:0% real-world artifacts we also have a 00:11:41.410 --> 00:11:43.400 align:start position:0% real-world artifacts we also have a Monty<00:11:41.680> Hall<00:11:41.860> game<00:11:42.070> a<00:11:42.279> generalized<00:11:42.820> Monty<00:11:43.149> Hall 00:11:43.400 --> 00:11:43.410 align:start position:0% Monty Hall game a generalized Monty Hall 00:11:43.410 --> 00:11:46.350 align:start position:0% Monty Hall game a generalized Monty Hall where<00:11:44.410> you<00:11:44.440> can<00:11:44.709> sort<00:11:44.920> of<00:11:45.040> bet<00:11:45.459> on<00:11:45.700> the<00:11:45.940> the 00:11:46.350 --> 00:11:46.360 align:start position:0% where you can sort of bet on the the 00:11:46.360 --> 00:11:49.050 align:start position:0% where you can sort of bet on the the outcome<00:11:46.510> of<00:11:46.690> a<00:11:46.839> Monty<00:11:47.080> Hall<00:11:47.430> it's<00:11:48.430> in<00:11:48.700> testing 00:11:49.050 --> 00:11:49.060 align:start position:0% outcome of a Monty Hall it's in testing 00:11:49.060 --> 00:11:50.550 align:start position:0% outcome of a Monty Hall it's in testing still<00:11:49.270> we<00:11:49.480> don't<00:11:49.660> know<00:11:49.750> how<00:11:50.080> large<00:11:50.290> of<00:11:50.440> a 00:11:50.550 --> 00:11:50.560 align:start position:0% still we don't know how large of a 00:11:50.560 --> 00:11:52.170 align:start position:0% still we don't know how large of a bounty<00:11:50.830> we're<00:11:50.950> going<00:11:51.160> to<00:11:51.250> launch<00:11:51.399> it<00:11:51.580> with<00:11:51.700> we 00:11:52.170 --> 00:11:52.180 align:start position:0% bounty we're going to launch it with we 00:11:52.180 --> 00:11:53.760 align:start position:0% bounty we're going to launch it with we wrote<00:11:52.360> this<00:11:52.510> contract<00:11:52.990> because<00:11:53.080> we<00:11:53.320> expected 00:11:53.760 --> 00:11:53.770 align:start position:0% wrote this contract because we expected 00:11:53.770 --> 00:11:55.380 align:start position:0% wrote this contract because we expected it<00:11:53.860> to<00:11:53.920> be<00:11:54.010> challenging 00:11:55.380 --> 00:11:55.390 align:start position:0% it to be challenging 00:11:55.390 --> 00:11:57.150 align:start position:0% it to be challenging and<00:11:55.570> there<00:11:55.779> is<00:11:55.899> code<00:11:56.200> and<00:11:56.410> specification<00:11:57.010> for 00:11:57.150 --> 00:11:57.160 align:start position:0% and there is code and specification for 00:11:57.160 --> 00:11:58.500 align:start position:0% and there is code and specification for that<00:11:57.250> on<00:11:57.370> the<00:11:57.459> website<00:11:57.490> and<00:11:58.000> we<00:11:58.089> expect<00:11:58.390> it<00:11:58.450> to 00:11:58.500 --> 00:11:58.510 align:start position:0% that on the website and we expect it to 00:11:58.510 --> 00:12:01.380 align:start position:0% that on the website and we expect it to be<00:11:58.600> live<00:11:58.810> soon<00:11:59.310> all<00:12:00.310> right<00:12:00.430> I<00:12:00.640> didn't<00:12:01.240> do<00:12:01.360> a 00:12:01.380 --> 00:12:01.390 align:start position:0% be live soon all right I didn't do a 00:12:01.390 --> 00:12:02.880 align:start position:0% be live soon all right I didn't do a demo<00:12:01.690> because<00:12:01.959> I<00:12:02.020> didn't<00:12:02.230> want<00:12:02.410> the<00:12:02.529> risk<00:12:02.709> of 00:12:02.880 --> 00:12:02.890 align:start position:0% demo because I didn't want the risk of 00:12:02.890 --> 00:12:04.350 align:start position:0% demo because I didn't want the risk of things<00:12:03.100> blowing<00:12:03.279> up<00:12:03.520> on<00:12:03.700> me<00:12:03.850> and<00:12:03.970> we<00:12:04.029> only<00:12:04.149> have 00:12:04.350 --> 00:12:04.360 align:start position:0% things blowing up on me and we only have 00:12:04.360 --> 00:12:06.180 align:start position:0% things blowing up on me and we only have so<00:12:04.540> much<00:12:04.660> time<00:12:04.720> so<00:12:05.470> I'm<00:12:05.589> going<00:12:05.770> to<00:12:05.860> sort<00:12:06.070> of 00:12:06.180 --> 00:12:06.190 align:start position:0% so much time so I'm going to sort of 00:12:06.190 --> 00:12:07.410 align:start position:0% so much time so I'm going to sort of take<00:12:06.310> you<00:12:06.399> through<00:12:06.580> a<00:12:06.640> picture<00:12:06.820> demo<00:12:07.149> of<00:12:07.300> what 00:12:07.410 --> 00:12:07.420 align:start position:0% take you through a picture demo of what 00:12:07.420 --> 00:12:08.550 align:start position:0% take you through a picture demo of what it<00:12:07.510> looks<00:12:07.660> like<00:12:07.839> when<00:12:08.050> you're<00:12:08.170> interacting 00:12:08.550 --> 00:12:08.560 align:start position:0% it looks like when you're interacting 00:12:08.560 --> 00:12:10.860 align:start position:0% it looks like when you're interacting with<00:12:08.770> these<00:12:08.890> contracts<00:12:09.370> it's<00:12:10.120> very<00:12:10.300> easy<00:12:10.540> the 00:12:10.860 --> 00:12:10.870 align:start position:0% with these contracts it's very easy the 00:12:10.870 --> 00:12:12.420 align:start position:0% with these contracts it's very easy the address<00:12:11.500> that<00:12:11.650> they're<00:12:11.800> deployed<00:12:12.130> out<00:12:12.220> in<00:12:12.310> the 00:12:12.420 --> 00:12:12.430 align:start position:0% address that they're deployed out in the 00:12:12.430 --> 00:12:14.490 align:start position:0% address that they're deployed out in the ABI<00:12:12.700> or<00:12:13.029> all<00:12:13.180> on<00:12:13.300> our<00:12:13.420> website<00:12:13.779> so<00:12:14.050> all<00:12:14.080> you 00:12:14.490 --> 00:12:14.500 align:start position:0% ABI or all on our website so all you 00:12:14.500 --> 00:12:16.079 align:start position:0% ABI or all on our website so all you really<00:12:14.529> have<00:12:14.770> to<00:12:14.980> do<00:12:15.100> is<00:12:15.370> plug<00:12:15.610> them<00:12:15.790> into<00:12:15.910> any 00:12:16.079 --> 00:12:16.089 align:start position:0% really have to do is plug them into any 00:12:16.089 --> 00:12:17.880 align:start position:0% really have to do is plug them into any aetherium<00:12:16.570> client<00:12:16.930> or<00:12:17.050> any<00:12:17.200> aetherium<00:12:17.620> tools 00:12:17.880 --> 00:12:17.890 align:start position:0% aetherium client or any aetherium tools 00:12:17.890 --> 00:12:19.440 align:start position:0% aetherium client or any aetherium tools and<00:12:18.160> you<00:12:18.550> should<00:12:18.730> be<00:12:18.820> able<00:12:18.880> to<00:12:19.000> interact<00:12:19.270> with 00:12:19.440 --> 00:12:19.450 align:start position:0% and you should be able to interact with 00:12:19.450 --> 00:12:21.329 align:start position:0% and you should be able to interact with the<00:12:19.570> contract<00:12:19.990> like<00:12:20.170> it<00:12:20.290> was<00:12:20.380> any<00:12:20.560> other<00:12:20.740> ERC 00:12:21.329 --> 00:12:21.339 align:start position:0% the contract like it was any other ERC 00:12:21.339 --> 00:12:23.250 align:start position:0% the contract like it was any other ERC 20<00:12:21.610> so<00:12:21.970> here<00:12:22.120> it<00:12:22.180> is<00:12:22.270> in<00:12:22.390> my<00:12:22.420> ether<00:12:22.779> wallet<00:12:23.110> you 00:12:23.250 --> 00:12:23.260 align:start position:0% 20 so here it is in my ether wallet you 00:12:23.260 --> 00:12:24.510 align:start position:0% 20 so here it is in my ether wallet you can<00:12:23.410> see<00:12:23.560> there's<00:12:23.709> like<00:12:23.860> a<00:12:23.890> few<00:12:24.070> functions 00:12:24.510 --> 00:12:24.520 align:start position:0% can see there's like a few functions 00:12:24.520 --> 00:12:26.910 align:start position:0% can see there's like a few functions that<00:12:24.640> you<00:12:24.760> can<00:12:24.880> access<00:12:25.029> there<00:12:25.680> some<00:12:26.680> of<00:12:26.800> which 00:12:26.910 --> 00:12:26.920 align:start position:0% that you can access there some of which 00:12:26.920 --> 00:12:29.460 align:start position:0% that you can access there some of which are<00:12:27.100> not<00:12:27.520> in<00:12:27.850> the<00:12:28.150> original<00:12:28.300> ERC<00:12:28.810> 20<00:12:29.050> contracts 00:12:29.460 --> 00:12:29.470 align:start position:0% are not in the original ERC 20 contracts 00:12:29.470 --> 00:12:31.620 align:start position:0% are not in the original ERC 20 contracts but<00:12:29.650> were<00:12:29.740> added<00:12:30.040> for<00:12:30.160> the<00:12:30.250> Hydra<00:12:30.580> one<00:12:31.360> example 00:12:31.620 --> 00:12:31.630 align:start position:0% but were added for the Hydra one example 00:12:31.630 --> 00:12:33.780 align:start position:0% but were added for the Hydra one example is<00:12:31.839> this<00:12:31.930> bounty<00:12:32.080> claimed<00:12:32.560> so<00:12:33.250> the<00:12:33.490> bounty 00:12:33.780 --> 00:12:33.790 align:start position:0% is this bounty claimed so the bounty 00:12:33.790 --> 00:12:35.910 align:start position:0% is this bounty claimed so the bounty claim<00:12:34.029> flag<00:12:34.300> you<00:12:34.779> can<00:12:34.930> look<00:12:35.080> at<00:12:35.200> for<00:12:35.350> any<00:12:35.500> token 00:12:35.910 --> 00:12:35.920 align:start position:0% claim flag you can look at for any token 00:12:35.920 --> 00:12:38.370 align:start position:0% claim flag you can look at for any token contract<00:12:36.339> or<00:12:36.610> other<00:12:36.640> Hydra<00:12:37.330> contract<00:12:37.750> and<00:12:37.959> it 00:12:38.370 --> 00:12:38.380 align:start position:0% contract or other Hydra contract and it 00:12:38.380 --> 00:12:39.510 align:start position:0% contract or other Hydra contract and it will<00:12:38.470> tell<00:12:38.650> you<00:12:38.770> whether<00:12:38.950> someone<00:12:39.370> has 00:12:39.510 --> 00:12:39.520 align:start position:0% will tell you whether someone has 00:12:39.520 --> 00:12:41.160 align:start position:0% will tell you whether someone has already<00:12:39.730> sort<00:12:40.270> of<00:12:40.330> claimed<00:12:40.630> the<00:12:40.750> bounty<00:12:41.050> by 00:12:41.160 --> 00:12:41.170 align:start position:0% already sort of claimed the bounty by 00:12:41.170 --> 00:12:42.510 align:start position:0% already sort of claimed the bounty by causing<00:12:41.589> that<00:12:41.709> divergence<00:12:42.220> that<00:12:42.400> we're 00:12:42.510 --> 00:12:42.520 align:start position:0% causing that divergence that we're 00:12:42.520 --> 00:12:45.720 align:start position:0% causing that divergence that we're talking<00:12:42.640> about<00:12:42.880> so<00:12:43.270> here<00:12:44.080> it<00:12:44.140> is<00:12:44.230> true<00:12:44.730> all 00:12:45.720 --> 00:12:45.730 align:start position:0% talking about so here it is true all 00:12:45.730 --> 00:12:47.340 align:start position:0% talking about so here it is true all right<00:12:45.910> and<00:12:46.089> this<00:12:46.450> is<00:12:46.570> what<00:12:46.600> sort<00:12:46.959> of<00:12:47.050> a<00:12:47.140> history 00:12:47.340 --> 00:12:47.350 align:start position:0% right and this is what sort of a history 00:12:47.350 --> 00:12:49.199 align:start position:0% right and this is what sort of a history of<00:12:47.440> transactions<00:12:47.980> look<00:12:48.160> like<00:12:48.339> you<00:12:48.940> can<00:12:49.089> see 00:12:49.199 --> 00:12:49.209 align:start position:0% of transactions look like you can see 00:12:49.209 --> 00:12:50.940 align:start position:0% of transactions look like you can see the<00:12:49.329> contract<00:12:49.720> creation<00:12:50.079> there<00:12:50.260> someone 00:12:50.940 --> 00:12:50.950 align:start position:0% the contract creation there someone 00:12:50.950 --> 00:12:52.890 align:start position:0% the contract creation there someone deposited<00:12:51.430> some<00:12:51.579> ether<00:12:51.850> into<00:12:52.000> it<00:12:52.209> and<00:12:52.390> then 00:12:52.890 --> 00:12:52.900 align:start position:0% deposited some ether into it and then 00:12:52.900 --> 00:12:54.660 align:start position:0% deposited some ether into it and then they<00:12:53.170> found<00:12:53.410> an<00:12:53.560> exploit<00:12:53.920> and<00:12:54.130> that<00:12:54.250> top<00:12:54.490> one 00:12:54.660 --> 00:12:54.670 align:start position:0% they found an exploit and that top one 00:12:54.670 --> 00:12:55.920 align:start position:0% they found an exploit and that top one is<00:12:54.790> actually<00:12:55.150> what<00:12:55.360> a<00:12:55.390> bounty<00:12:55.720> claim 00:12:55.920 --> 00:12:55.930 align:start position:0% is actually what a bounty claim 00:12:55.930 --> 00:12:57.900 align:start position:0% is actually what a bounty claim transaction<00:12:56.470> looks<00:12:56.620> like<00:12:56.800> so<00:12:57.579> here<00:12:57.730> it<00:12:57.820> is 00:12:57.900 --> 00:12:57.910 align:start position:0% transaction looks like so here it is 00:12:57.910 --> 00:13:00.030 align:start position:0% transaction looks like so here it is blown<00:12:58.089> up<00:12:58.329> on<00:12:58.540> ether<00:12:58.870> scan<00:12:59.079> I<00:12:59.350> don't<00:12:59.860> know<00:12:59.920> if 00:13:00.030 --> 00:13:00.040 align:start position:0% blown up on ether scan I don't know if 00:13:00.040 --> 00:13:01.019 align:start position:0% blown up on ether scan I don't know if you<00:13:00.130> can<00:13:00.250> see<00:13:00.370> this<00:13:00.490> the<00:13:00.640> font<00:13:00.820> is<00:13:00.940> a<00:13:00.970> little 00:13:01.019 --> 00:13:01.029 align:start position:0% you can see this the font is a little 00:13:01.029 --> 00:13:02.579 align:start position:0% you can see this the font is a little small<00:13:01.420> but<00:13:01.900> what<00:13:02.020> it's<00:13:02.140> done<00:13:02.290> is<00:13:02.440> it's 00:13:02.579 --> 00:13:02.589 align:start position:0% small but what it's done is it's 00:13:02.589 --> 00:13:04.769 align:start position:0% small but what it's done is it's transferred<00:13:03.100> 1/10<00:13:03.970> of<00:13:04.209> the<00:13:04.329> ether<00:13:04.600> in<00:13:04.690> the 00:13:04.769 --> 00:13:04.779 align:start position:0% transferred 1/10 of the ether in the 00:13:04.779 --> 00:13:06.300 align:start position:0% transferred 1/10 of the ether in the contract<00:13:05.230> to<00:13:05.529> the<00:13:05.680> person<00:13:05.920> who<00:13:06.010> found<00:13:06.130> the 00:13:06.300 --> 00:13:06.310 align:start position:0% contract to the person who found the 00:13:06.310 --> 00:13:08.280 align:start position:0% contract to the person who found the bounty<00:13:06.579> so<00:13:07.089> this<00:13:07.240> is<00:13:07.360> sort<00:13:07.510> of<00:13:07.570> that<00:13:07.690> 1/10<00:13:08.170> of 00:13:08.280 --> 00:13:08.290 align:start position:0% bounty so this is sort of that 1/10 of 00:13:08.290 --> 00:13:10.710 align:start position:0% bounty so this is sort of that 1/10 of that<00:13:08.350> 3/8<00:13:08.860> we<00:13:09.190> mentioned<00:13:09.520> earlier<00:13:09.790> and<00:13:10.570> it's 00:13:10.710 --> 00:13:10.720 align:start position:0% that 3/8 we mentioned earlier and it's 00:13:10.720 --> 00:13:12.569 align:start position:0% that 3/8 we mentioned earlier and it's transferred<00:13:11.200> the<00:13:11.589> rest<00:13:11.770> sort<00:13:12.070> of<00:13:12.190> back<00:13:12.399> to 00:13:12.569 --> 00:13:12.579 align:start position:0% transferred the rest sort of back to 00:13:12.579 --> 00:13:14.280 align:start position:0% transferred the rest sort of back to this<00:13:12.670> trusted<00:13:13.149> multi-sig<00:13:13.839> which<00:13:14.110> we're 00:13:14.280 --> 00:13:14.290 align:start position:0% this trusted multi-sig which we're 00:13:14.290 --> 00:13:15.900 align:start position:0% this trusted multi-sig which we're currently<00:13:14.440> just<00:13:14.800> using<00:13:15.130> the<00:13:15.640> Creator 00:13:15.900 --> 00:13:15.910 align:start position:0% currently just using the Creator 00:13:15.910 --> 00:13:19.650 align:start position:0% currently just using the Creator contract<00:13:17.760> all<00:13:18.760> right<00:13:18.970> and 00:13:19.650 --> 00:13:19.660 align:start position:0% contract all right and 00:13:19.660 --> 00:13:21.210 align:start position:0% contract all right and so<00:13:19.840> how<00:13:19.990> do<00:13:20.260> you<00:13:20.350> actually<00:13:20.470> develop<00:13:20.710> a<00:13:20.950> hydro 00:13:21.210 --> 00:13:21.220 align:start position:0% so how do you actually develop a hydro 00:13:21.220 --> 00:13:22.740 align:start position:0% so how do you actually develop a hydro contract<00:13:21.670> we<00:13:21.910> have<00:13:22.060> this<00:13:22.210> sort<00:13:22.360> of<00:13:22.480> Hydra 00:13:22.740 --> 00:13:22.750 align:start position:0% contract we have this sort of Hydra 00:13:22.750 --> 00:13:24.330 align:start position:0% contract we have this sort of Hydra process<00:13:23.140> that<00:13:23.350> we're<00:13:23.470> proposing<00:13:23.710> which<00:13:24.190> has 00:13:24.330 --> 00:13:24.340 align:start position:0% process that we're proposing which has 00:13:24.340 --> 00:13:25.980 align:start position:0% process that we're proposing which has three<00:13:24.610> steps<00:13:24.850> the<00:13:25.420> first<00:13:25.600> step<00:13:25.720> is 00:13:25.980 --> 00:13:25.990 align:start position:0% three steps the first step is 00:13:25.990 --> 00:13:27.540 align:start position:0% three steps the first step is specification<00:13:26.710> so<00:13:26.980> this<00:13:27.100> is<00:13:27.220> something<00:13:27.460> you 00:13:27.540 --> 00:13:27.550 align:start position:0% specification so this is something you 00:13:27.550 --> 00:13:28.890 align:start position:0% specification so this is something you always<00:13:27.760> want<00:13:28.210> to<00:13:28.270> do<00:13:28.390> for<00:13:28.600> your<00:13:28.690> smart 00:13:28.890 --> 00:13:28.900 align:start position:0% always want to do for your smart 00:13:28.900 --> 00:13:30.630 align:start position:0% always want to do for your smart contracts<00:13:29.320> anyway<00:13:29.620> please<00:13:29.890> start<00:13:30.280> doing<00:13:30.520> this 00:13:30.630 --> 00:13:30.640 align:start position:0% contracts anyway please start doing this 00:13:30.640 --> 00:13:33.120 align:start position:0% contracts anyway please start doing this guy's<00:13:30.880> which<00:13:31.720> is<00:13:31.840> to<00:13:31.960> write<00:13:32.110> a<00:13:32.170> independent 00:13:33.120 --> 00:13:33.130 align:start position:0% guy's which is to write a independent 00:13:33.130 --> 00:13:34.770 align:start position:0% guy's which is to write a independent specification<00:13:34.060> of<00:13:34.180> what<00:13:34.390> functionality 00:13:34.770 --> 00:13:34.780 align:start position:0% specification of what functionality 00:13:34.780 --> 00:13:36.510 align:start position:0% specification of what functionality you're<00:13:35.080> trying<00:13:35.290> to<00:13:35.440> achieve<00:13:35.530> in<00:13:36.190> enough 00:13:36.510 --> 00:13:36.520 align:start position:0% you're trying to achieve in enough 00:13:36.520 --> 00:13:38.100 align:start position:0% you're trying to achieve in enough detail<00:13:36.880> so<00:13:36.910> that<00:13:37.210> a<00:13:37.240> programmer<00:13:37.660> with<00:13:37.960> no 00:13:38.100 --> 00:13:38.110 align:start position:0% detail so that a programmer with no 00:13:38.110 --> 00:13:39.600 align:start position:0% detail so that a programmer with no communication<00:13:38.290> with<00:13:38.860> you<00:13:38.980> could<00:13:39.160> sort<00:13:39.340> of<00:13:39.430> sit 00:13:39.600 --> 00:13:39.610 align:start position:0% communication with you could sort of sit 00:13:39.610 --> 00:13:42.420 align:start position:0% communication with you could sort of sit down<00:13:39.760> and<00:13:39.970> implement<00:13:40.330> that<00:13:40.360> correctly<00:13:41.430> the 00:13:42.420 --> 00:13:42.430 align:start position:0% down and implement that correctly the 00:13:42.430 --> 00:13:43.830 align:start position:0% down and implement that correctly the second<00:13:42.760> step<00:13:42.910> after<00:13:43.030> that<00:13:43.180> is<00:13:43.330> implementation 00:13:43.830 --> 00:13:43.840 align:start position:0% second step after that is implementation 00:13:43.840 --> 00:13:45.480 align:start position:0% second step after that is implementation so<00:13:44.230> what<00:13:44.350> that<00:13:44.440> looks<00:13:44.500> like<00:13:44.710> in<00:13:44.920> Hydra<00:13:45.280> is<00:13:45.340> you 00:13:45.480 --> 00:13:45.490 align:start position:0% so what that looks like in Hydra is you 00:13:45.490 --> 00:13:47.310 align:start position:0% so what that looks like in Hydra is you ship<00:13:45.730> off<00:13:45.910> that<00:13:46.120> specification<00:13:46.840> to<00:13:47.050> a<00:13:47.080> bunch 00:13:47.310 --> 00:13:47.320 align:start position:0% ship off that specification to a bunch 00:13:47.320 --> 00:13:49.470 align:start position:0% ship off that specification to a bunch of<00:13:47.410> different<00:13:47.710> developers<00:13:48.120> and<00:13:49.120> they<00:13:49.210> sort<00:13:49.390> of 00:13:49.470 --> 00:13:49.480 align:start position:0% of different developers and they sort of 00:13:49.480 --> 00:13:51.630 align:start position:0% of different developers and they sort of implement<00:13:49.840> your<00:13:49.900> contract<00:13:50.460> it's<00:13:51.460> worth 00:13:51.630 --> 00:13:51.640 align:start position:0% implement your contract it's worth 00:13:51.640 --> 00:13:53.100 align:start position:0% implement your contract it's worth noting<00:13:51.970> that<00:13:52.000> you<00:13:52.180> the<00:13:52.450> Hydra<00:13:52.750> is<00:13:52.840> sort<00:13:53.050> of 00:13:53.100 --> 00:13:53.110 align:start position:0% noting that you the Hydra is sort of 00:13:53.110 --> 00:13:54.420 align:start position:0% noting that you the Hydra is sort of flexible<00:13:53.470> in<00:13:53.590> how<00:13:53.680> you<00:13:53.740> use<00:13:53.830> it<00:13:54.130> you<00:13:54.250> don't 00:13:54.420 --> 00:13:54.430 align:start position:0% flexible in how you use it you don't 00:13:54.430 --> 00:13:55.980 align:start position:0% flexible in how you use it you don't necessarily<00:13:54.520> need<00:13:55.030> multiple<00:13:55.450> developers<00:13:55.840> you 00:13:55.980 --> 00:13:55.990 align:start position:0% necessarily need multiple developers you 00:13:55.990 --> 00:13:57.450 align:start position:0% necessarily need multiple developers you can<00:13:56.110> also<00:13:56.290> just<00:13:56.530> compile<00:13:56.860> with<00:13:57.040> multiple 00:13:57.450 --> 00:13:57.460 align:start position:0% can also just compile with multiple 00:13:57.460 --> 00:13:59.520 align:start position:0% can also just compile with multiple compilers<00:13:57.940> if<00:13:58.180> all<00:13:58.630> you<00:13:58.780> want<00:13:58.960> is<00:13:59.080> a<00:13:59.110> bounty<00:13:59.500> on 00:13:59.520 --> 00:13:59.530 align:start position:0% compilers if all you want is a bounty on 00:13:59.530 --> 00:14:03.180 align:start position:0% compilers if all you want is a bounty on a<00:13:59.650> compiler<00:14:00.250> errors<00:14:00.570> or<00:14:01.620> you<00:14:02.620> can<00:14:02.770> deploy<00:14:02.980> it 00:14:03.180 --> 00:14:03.190 align:start position:0% a compiler errors or you can deploy it 00:14:03.190 --> 00:14:05.010 align:start position:0% a compiler errors or you can deploy it sort<00:14:03.370> of<00:14:03.430> alongside<00:14:03.700> your<00:14:04.270> original<00:14:04.600> contract 00:14:05.010 --> 00:14:05.020 align:start position:0% sort of alongside your original contract 00:14:05.020 --> 00:14:06.480 align:start position:0% sort of alongside your original contract rather<00:14:05.170> than<00:14:05.380> using<00:14:05.530> it<00:14:05.740> fully<00:14:05.920> in<00:14:06.070> production 00:14:06.480 --> 00:14:06.490 align:start position:0% rather than using it fully in production 00:14:06.490 --> 00:14:08.610 align:start position:0% rather than using it fully in production to<00:14:06.640> just<00:14:06.880> get<00:14:07.090> a<00:14:07.120> separate<00:14:07.660> decentralized 00:14:08.610 --> 00:14:08.620 align:start position:0% to just get a separate decentralized 00:14:08.620 --> 00:14:11.130 align:start position:0% to just get a separate decentralized trustless<00:14:09.010> bounty<00:14:09.780> so<00:14:10.780> while<00:14:10.930> we<00:14:11.050> were 00:14:11.130 --> 00:14:11.140 align:start position:0% trustless bounty so while we were 00:14:11.140 --> 00:14:13.260 align:start position:0% trustless bounty so while we were developing<00:14:11.290> our<00:14:11.620> er<00:14:11.830> c20<00:14:12.280> with<00:14:12.730> this<00:14:12.850> process 00:14:13.260 --> 00:14:13.270 align:start position:0% developing our er c20 with this process 00:14:13.270 --> 00:14:15.510 align:start position:0% developing our er c20 with this process this<00:14:13.990> process<00:14:14.110> helped<00:14:14.710> us<00:14:14.800> find<00:14:15.040> integer 00:14:15.510 --> 00:14:15.520 align:start position:0% this process helped us find integer 00:14:15.520 --> 00:14:17.970 align:start position:0% this process helped us find integer overflow<00:14:15.940> bugs<00:14:16.180> GRC<00:14:17.080> 20<00:14:17.350> non-conformance 00:14:17.970 --> 00:14:17.980 align:start position:0% overflow bugs GRC 20 non-conformance 00:14:17.980 --> 00:14:19.650 align:start position:0% overflow bugs GRC 20 non-conformance errors<00:14:18.280> that<00:14:18.490> is<00:14:18.640> developers<00:14:19.150> incorrectly 00:14:19.650 --> 00:14:19.660 align:start position:0% errors that is developers incorrectly 00:14:19.660 --> 00:14:21.840 align:start position:0% errors that is developers incorrectly implementing<00:14:20.170> a<00:14:20.230> specification<00:14:20.590> and<00:14:21.100> the 00:14:21.840 --> 00:14:21.850 align:start position:0% implementing a specification and the 00:14:21.850 --> 00:14:23.040 align:start position:0% implementing a specification and the most<00:14:22.000> surprising<00:14:22.120> one<00:14:22.600> is<00:14:22.720> sort<00:14:22.840> of<00:14:22.900> this 00:14:23.040 --> 00:14:23.050 align:start position:0% most surprising one is sort of this 00:14:23.050 --> 00:14:24.690 align:start position:0% most surprising one is sort of this suicide<00:14:23.230> issue<00:14:23.650> that<00:14:24.010> ended<00:14:24.280> up<00:14:24.400> winning<00:14:24.550> the 00:14:24.690 --> 00:14:24.700 align:start position:0% suicide issue that ended up winning the 00:14:24.700 --> 00:14:27.780 align:start position:0% suicide issue that ended up winning the underhanded<00:14:25.240> solidity<00:14:25.630> contest<00:14:26.140> or<00:14:26.790> placing 00:14:27.780 --> 00:14:27.790 align:start position:0% underhanded solidity contest or placing 00:14:27.790 --> 00:14:29.510 align:start position:0% underhanded solidity contest or placing in<00:14:27.880> the<00:14:27.910> underhand<00:14:28.270> solidity<00:14:28.510> contest 00:14:29.510 --> 00:14:29.520 align:start position:0% in the underhand solidity contest 00:14:29.520 --> 00:14:31.860 align:start position:0% in the underhand solidity contest whereby<00:14:30.520> you<00:14:30.580> sort<00:14:30.940> of<00:14:30.970> suicide<00:14:31.420> send<00:14:31.690> money 00:14:31.860 --> 00:14:31.870 align:start position:0% whereby you sort of suicide send money 00:14:31.870 --> 00:14:33.930 align:start position:0% whereby you sort of suicide send money to<00:14:31.990> a<00:14:32.140> contract<00:14:32.680> and<00:14:32.920> corrupt<00:14:33.430> its<00:14:33.580> balance 00:14:33.930 --> 00:14:33.940 align:start position:0% to a contract and corrupt its balance 00:14:33.940 --> 00:14:35.670 align:start position:0% to a contract and corrupt its balance without<00:14:34.240> allowing<00:14:34.570> it<00:14:34.870> to<00:14:34.900> run<00:14:35.140> it's<00:14:35.290> fallback 00:14:35.670 --> 00:14:35.680 align:start position:0% without allowing it to run it's fallback 00:14:35.680 --> 00:14:38.910 align:start position:0% without allowing it to run it's fallback function<00:14:36.160> and<00:14:36.370> react<00:14:36.730> this<00:14:36.970> send<00:14:37.740> so<00:14:38.740> this 00:14:38.910 --> 00:14:38.920 align:start position:0% function and react this send so this 00:14:38.920 --> 00:14:40.740 align:start position:0% function and react this send so this suicide<00:14:39.340> issue<00:14:39.520> occurred<00:14:40.090> in<00:14:40.210> our<00:14:40.300> contract 00:14:40.740 --> 00:14:40.750 align:start position:0% suicide issue occurred in our contract 00:14:40.750 --> 00:14:41.910 align:start position:0% suicide issue occurred in our contract because<00:14:41.020> we<00:14:41.170> are<00:14:41.260> writing<00:14:41.470> a<00:14:41.650> one-to-one 00:14:41.910 --> 00:14:41.920 align:start position:0% because we are writing a one-to-one 00:14:41.920 --> 00:14:44.340 align:start position:0% because we are writing a one-to-one ether<00:14:42.250> peg<00:14:42.460> so<00:14:43.180> the<00:14:43.300> total<00:14:43.480> supply<00:14:43.750> function 00:14:44.340 --> 00:14:44.350 align:start position:0% ether peg so the total supply function 00:14:44.350 --> 00:14:46.950 align:start position:0% ether peg so the total supply function on<00:14:44.530> three<00:14:45.250> of<00:14:45.340> our<00:14:45.460> contracts<00:14:45.940> would<00:14:46.300> use<00:14:46.510> a<00:14:46.540> UN 00:14:46.950 --> 00:14:46.960 align:start position:0% on three of our contracts would use a UN 00:14:46.960 --> 00:14:48.900 align:start position:0% on three of our contracts would use a UN 256<00:14:47.590> to<00:14:47.800> keep<00:14:47.950> track<00:14:48.160> of<00:14:48.280> how<00:14:48.370> much<00:14:48.490> ether<00:14:48.700> had 00:14:48.900 --> 00:14:48.910 align:start position:0% 256 to keep track of how much ether had 00:14:48.910 --> 00:14:51.000 align:start position:0% 256 to keep track of how much ether had been<00:14:49.060> deposited<00:14:49.540> and<00:14:49.630> just<00:14:49.810> return<00:14:50.050> that<00:14:50.260> but 00:14:51.000 --> 00:14:51.010 align:start position:0% been deposited and just return that but 00:14:51.010 --> 00:14:52.710 align:start position:0% been deposited and just return that but on<00:14:51.100> our<00:14:51.190> last<00:14:51.460> contract<00:14:51.970> the<00:14:52.270> total<00:14:52.570> supply 00:14:52.710 --> 00:14:52.720 align:start position:0% on our last contract the total supply 00:14:52.720 --> 00:14:54.300 align:start position:0% on our last contract the total supply was<00:14:53.140> actually<00:14:53.530> just<00:14:53.620> returning<00:14:53.920> to<00:14:54.130> stop 00:14:54.300 --> 00:14:54.310 align:start position:0% was actually just returning to stop 00:14:54.310 --> 00:14:56.850 align:start position:0% was actually just returning to stop balance<00:14:54.700> so<00:14:55.510> if<00:14:55.570> you<00:14:55.690> suicide<00:14:56.170> sent<00:14:56.530> to<00:14:56.770> that 00:14:56.850 --> 00:14:56.860 align:start position:0% balance so if you suicide sent to that 00:14:56.860 --> 00:14:58.440 align:start position:0% balance so if you suicide sent to that one<00:14:57.190> head<00:14:57.460> that<00:14:57.670> was<00:14:57.790> returning<00:14:58.090> this<00:14:58.270> stop 00:14:58.440 --> 00:14:58.450 align:start position:0% one head that was returning this stop 00:14:58.450 --> 00:15:00.060 align:start position:0% one head that was returning this stop balance<00:14:58.840> and<00:14:59.020> then<00:14:59.110> ran<00:14:59.290> total<00:14:59.590> supply<00:14:59.860> you'd 00:15:00.060 --> 00:15:00.070 align:start position:0% balance and then ran total supply you'd 00:15:00.070 --> 00:15:01.860 align:start position:0% balance and then ran total supply you'd be<00:15:00.190> able<00:15:00.250> to<00:15:00.340> claim<00:15:00.550> the<00:15:00.700> bounty<00:15:00.790> and<00:15:01.180> you 00:15:01.860 --> 00:15:01.870 align:start position:0% be able to claim the bounty and you 00:15:01.870 --> 00:15:03.090 align:start position:0% be able to claim the bounty and you could<00:15:01.990> do<00:15:02.080> that<00:15:02.200> either<00:15:02.440> as<00:15:02.560> a<00:15:02.590> contract 00:15:03.090 --> 00:15:03.100 align:start position:0% could do that either as a contract 00:15:03.100 --> 00:15:04.680 align:start position:0% could do that either as a contract transaction<00:15:03.700> or<00:15:03.970> as<00:15:04.180> two<00:15:04.390> separate 00:15:04.680 --> 00:15:04.690 align:start position:0% transaction or as two separate 00:15:04.690 --> 00:15:07.020 align:start position:0% transaction or as two separate transactions<00:15:05.200> on<00:15:05.350> the<00:15:05.380> chain<00:15:05.620> and<00:15:06.520> I<00:15:06.850> think 00:15:07.020 --> 00:15:07.030 align:start position:0% transactions on the chain and I think 00:15:07.030 --> 00:15:08.220 align:start position:0% transactions on the chain and I think that's<00:15:07.150> really<00:15:07.360> cool<00:15:07.540> because<00:15:07.780> we<00:15:07.990> actually 00:15:08.220 --> 00:15:08.230 align:start position:0% that's really cool because we actually 00:15:08.230 --> 00:15:09.510 align:start position:0% that's really cool because we actually were<00:15:08.440> not<00:15:08.620> consciously<00:15:09.070> aware<00:15:09.160> of<00:15:09.340> this 00:15:09.510 --> 00:15:09.520 align:start position:0% were not consciously aware of this 00:15:09.520 --> 00:15:10.590 align:start position:0% were not consciously aware of this anti-pattern<00:15:10.120> while<00:15:10.300> we<00:15:10.360> were<00:15:10.450> developing 00:15:10.590 --> 00:15:10.600 align:start position:0% anti-pattern while we were developing 00:15:10.600 --> 00:15:12.450 align:start position:0% anti-pattern while we were developing the<00:15:10.930> contracts<00:15:11.380> and<00:15:11.650> it's<00:15:12.010> sort<00:15:12.160> of<00:15:12.220> something 00:15:12.450 --> 00:15:12.460 align:start position:0% the contracts and it's sort of something 00:15:12.460 --> 00:15:14.400 align:start position:0% the contracts and it's sort of something we<00:15:12.640> realized<00:15:12.940> and<00:15:13.120> tested<00:15:13.480> after<00:15:14.080> the<00:15:14.170> fact 00:15:14.400 --> 00:15:14.410 align:start position:0% we realized and tested after the fact 00:15:14.410 --> 00:15:16.590 align:start position:0% we realized and tested after the fact the<00:15:15.340> other<00:15:15.460> nice<00:15:15.670> thing<00:15:15.700> is<00:15:16.120> all<00:15:16.150> of<00:15:16.480> the 00:15:16.590 --> 00:15:16.600 align:start position:0% the other nice thing is all of the 00:15:16.600 --> 00:15:18.210 align:start position:0% the other nice thing is all of the issues<00:15:16.840> we<00:15:17.020> found<00:15:17.170> which<00:15:17.440> we<00:15:17.560> found<00:15:17.680> about<00:15:17.950> I 00:15:18.210 --> 00:15:18.220 align:start position:0% issues we found which we found about I 00:15:18.220 --> 00:15:20.010 align:start position:0% issues we found which we found about I would<00:15:18.490> say<00:15:18.700> four<00:15:18.940> or<00:15:18.970> five<00:15:19.060> during<00:15:19.930> the 00:15:20.010 --> 00:15:20.020 align:start position:0% would say four or five during the 00:15:20.020 --> 00:15:21.990 align:start position:0% would say four or five during the process<00:15:20.380> of<00:15:20.440> our<00:15:20.590> development<00:15:21.070> we're<00:15:21.790> all 00:15:21.990 --> 00:15:22.000 align:start position:0% process of our development we're all 00:15:22.000 --> 00:15:23.730 align:start position:0% process of our development we're all claimable<00:15:22.390> bounties<00:15:22.840> and<00:15:23.110> none<00:15:23.380> of<00:15:23.410> them<00:15:23.620> were 00:15:23.730 --> 00:15:23.740 align:start position:0% claimable bounties and none of them were 00:15:23.740 --> 00:15:26.070 align:start position:0% claimable bounties and none of them were full<00:15:23.950> exploits<00:15:24.400> against<00:15:24.970> all<00:15:25.120> four<00:15:25.840> of<00:15:25.870> our 00:15:26.070 --> 00:15:26.080 align:start position:0% full exploits against all four of our 00:15:26.080 --> 00:15:28.590 align:start position:0% full exploits against all four of our contracts<00:15:26.560> so<00:15:27.160> that<00:15:27.340> sort<00:15:27.550> of<00:15:27.670> at<00:15:28.390> least 00:15:28.590 --> 00:15:28.600 align:start position:0% contracts so that sort of at least 00:15:28.600 --> 00:15:30.540 align:start position:0% contracts so that sort of at least informally<00:15:29.260> empirically<00:15:30.010> validates<00:15:30.430> the 00:15:30.540 --> 00:15:30.550 align:start position:0% informally empirically validates the 00:15:30.550 --> 00:15:33.600 align:start position:0% informally empirically validates the approach<00:15:30.820> a<00:15:30.940> little<00:15:31.060> bit 00:15:33.600 --> 00:15:33.610 align:start position:0% 00:15:33.610 --> 00:15:34.710 align:start position:0% you<00:15:33.760> might<00:15:33.910> be<00:15:34.029> thinking<00:15:34.060> well<00:15:34.480> this<00:15:34.660> is 00:15:34.710 --> 00:15:34.720 align:start position:0% you might be thinking well this is 00:15:34.720 --> 00:15:36.300 align:start position:0% you might be thinking well this is horribly<00:15:35.110> expensive<00:15:35.320> I'm<00:15:35.740> gonna<00:15:35.890> have<00:15:36.040> to<00:15:36.160> be 00:15:36.300 --> 00:15:36.310 align:start position:0% horribly expensive I'm gonna have to be 00:15:36.310 --> 00:15:37.680 align:start position:0% horribly expensive I'm gonna have to be paying<00:15:36.519> a<00:15:36.610> ton<00:15:36.730> of<00:15:36.790> gas<00:15:37.029> to<00:15:37.240> do<00:15:37.360> this<00:15:37.480> I<00:15:37.660> don't 00:15:37.680 --> 00:15:37.690 align:start position:0% paying a ton of gas to do this I don't 00:15:37.690 --> 00:15:39.540 align:start position:0% paying a ton of gas to do this I don't want<00:15:37.899> to<00:15:37.959> pay<00:15:38.079> five<00:15:38.290> times<00:15:38.529> the<00:15:38.680> gas<00:15:38.829> I<00:15:39.130> mean 00:15:39.540 --> 00:15:39.550 align:start position:0% want to pay five times the gas I mean 00:15:39.550 --> 00:15:40.319 align:start position:0% want to pay five times the gas I mean it's<00:15:39.670> certainly<00:15:39.790> true 00:15:40.319 --> 00:15:40.329 align:start position:0% it's certainly true 00:15:40.329 --> 00:15:41.970 align:start position:0% it's certainly true you're<00:15:40.660> definitely<00:15:40.870> paying<00:15:41.260> more<00:15:41.470> gas<00:15:41.680> with<00:15:41.950> a 00:15:41.970 --> 00:15:41.980 align:start position:0% you're definitely paying more gas with a 00:15:41.980 --> 00:15:43.110 align:start position:0% you're definitely paying more gas with a hydro<00:15:42.279> contract<00:15:42.670> and<00:15:42.820> with<00:15:42.910> the<00:15:42.970> regular 00:15:43.110 --> 00:15:43.120 align:start position:0% hydro contract and with the regular 00:15:43.120 --> 00:15:45.360 align:start position:0% hydro contract and with the regular contract<00:15:43.690> the<00:15:44.260> nice<00:15:44.440> thing<00:15:44.680> is<00:15:44.800> that<00:15:44.829> it<00:15:45.130> sort 00:15:45.360 --> 00:15:45.370 align:start position:0% contract the nice thing is that it sort 00:15:45.370 --> 00:15:47.730 align:start position:0% contract the nice thing is that it sort of<00:15:45.430> scales<00:15:45.760> a<00:15:46.000> little<00:15:46.570> bit<00:15:46.990> better<00:15:47.380> than<00:15:47.620> you'd 00:15:47.730 --> 00:15:47.740 align:start position:0% of scales a little bit better than you'd 00:15:47.740 --> 00:15:48.300 align:start position:0% of scales a little bit better than you'd expect 00:15:48.300 --> 00:15:48.310 align:start position:0% expect 00:15:48.310 --> 00:15:50.550 align:start position:0% expect so<00:15:48.640> these<00:15:48.790> dotted<00:15:49.000> lines<00:15:49.329> are<00:15:49.570> sort<00:15:50.260> of<00:15:50.350> lines 00:15:50.550 --> 00:15:50.560 align:start position:0% so these dotted lines are sort of lines 00:15:50.560 --> 00:15:52.259 align:start position:0% so these dotted lines are sort of lines with<00:15:50.740> a<00:15:50.769> slope<00:15:50.860> of<00:15:51.160> one<00:15:51.399> which<00:15:51.880> is<00:15:52.000> how<00:15:52.120> you'd 00:15:52.259 --> 00:15:52.269 align:start position:0% with a slope of one which is how you'd 00:15:52.269 --> 00:15:54.750 align:start position:0% with a slope of one which is how you'd expect<00:15:52.360> a<00:15:52.779> Hydra<00:15:53.380> to<00:15:53.709> scale<00:15:53.920> you<00:15:54.399> add<00:15:54.550> another 00:15:54.750 --> 00:15:54.760 align:start position:0% expect a Hydra to scale you add another 00:15:54.760 --> 00:15:57.509 align:start position:0% expect a Hydra to scale you add another head<00:15:55.000> you<00:15:55.660> sort<00:15:55.959> of<00:15:56.019> add<00:15:56.260> one<00:15:56.620> to<00:15:56.890> the<00:15:57.010> the 00:15:57.509 --> 00:15:57.519 align:start position:0% head you sort of add one to the the 00:15:57.519 --> 00:15:59.730 align:start position:0% head you sort of add one to the the constant<00:15:57.880> factor<00:15:58.180> of<00:15:58.300> your<00:15:58.390> costs<00:15:58.779> the<00:15:59.620> nice 00:15:59.730 --> 00:15:59.740 align:start position:0% constant factor of your costs the nice 00:15:59.740 --> 00:16:01.050 align:start position:0% constant factor of your costs the nice thing<00:15:59.950> is<00:16:00.010> that<00:16:00.190> we<00:16:00.279> actually<00:16:00.399> scale<00:16:00.820> below 00:16:01.050 --> 00:16:01.060 align:start position:0% thing is that we actually scale below 00:16:01.060 --> 00:16:02.880 align:start position:0% thing is that we actually scale below that<00:16:01.390> slope<00:16:01.660> of<00:16:01.810> one<00:16:01.990> because<00:16:02.589> of<00:16:02.709> some 00:16:02.880 --> 00:16:02.890 align:start position:0% that slope of one because of some 00:16:02.890 --> 00:16:04.380 align:start position:0% that slope of one because of some constant<00:16:03.190> overhead<00:16:03.640> that's<00:16:03.790> associated<00:16:04.089> with 00:16:04.380 --> 00:16:04.390 align:start position:0% constant overhead that's associated with 00:16:04.390 --> 00:16:07.350 align:start position:0% constant overhead that's associated with evm<00:16:05.170> transaction<00:16:05.769> costs<00:16:06.130> and<00:16:06.279> we<00:16:07.000> can<00:16:07.149> scale 00:16:07.350 --> 00:16:07.360 align:start position:0% evm transaction costs and we can scale 00:16:07.360 --> 00:16:09.180 align:start position:0% evm transaction costs and we can scale pretty<00:16:07.690> significantly<00:16:08.260> below<00:16:08.589> it<00:16:08.769> depending 00:16:09.180 --> 00:16:09.190 align:start position:0% pretty significantly below it depending 00:16:09.190 --> 00:16:12.269 align:start position:0% pretty significantly below it depending on<00:16:09.250> what<00:16:09.490> type<00:16:09.640> of<00:16:09.760> contract<00:16:10.149> you<00:16:10.240> have<00:16:10.620> so<00:16:11.620> the 00:16:12.269 --> 00:16:12.279 align:start position:0% on what type of contract you have so the 00:16:12.279 --> 00:16:14.699 align:start position:0% on what type of contract you have so the more<00:16:12.490> you<00:16:12.670> you<00:16:13.089> sort<00:16:13.540> of<00:16:13.570> alter<00:16:13.930> storage<00:16:14.380> the 00:16:14.699 --> 00:16:14.709 align:start position:0% more you you sort of alter storage the 00:16:14.709 --> 00:16:16.410 align:start position:0% more you you sort of alter storage the closer<00:16:14.950> to<00:16:15.100> this<00:16:15.339> slope<00:16:15.730> of<00:16:15.880> one<00:16:16.089> you<00:16:16.240> get 00:16:16.410 --> 00:16:16.420 align:start position:0% closer to this slope of one you get 00:16:16.420 --> 00:16:18.930 align:start position:0% closer to this slope of one you get because<00:16:16.630> storage<00:16:17.440> alteration<00:16:18.010> is<00:16:18.160> the<00:16:18.519> most 00:16:18.930 --> 00:16:18.940 align:start position:0% because storage alteration is the most 00:16:18.940 --> 00:16:20.579 align:start position:0% because storage alteration is the most expensive<00:16:19.180> operation<00:16:19.930> our<00:16:20.050> contracts<00:16:20.470> are 00:16:20.579 --> 00:16:20.589 align:start position:0% expensive operation our contracts are 00:16:20.589 --> 00:16:24.360 align:start position:0% expensive operation our contracts are performing<00:16:21.070> here<00:16:21.870> all<00:16:22.870> right<00:16:23.250> another<00:16:24.250> thing 00:16:24.360 --> 00:16:24.370 align:start position:0% performing here all right another thing 00:16:24.370 --> 00:16:26.190 align:start position:0% performing here all right another thing we<00:16:24.700> would<00:16:24.940> like<00:16:25.240> to<00:16:25.269> announce<00:16:25.600> soon<00:16:25.899> is 00:16:26.190 --> 00:16:26.200 align:start position:0% we would like to announce soon is 00:16:26.200 --> 00:16:28.350 align:start position:0% we would like to announce soon is integration<00:16:26.800> with<00:16:26.950> HACC<00:16:27.130> this<00:16:27.310> contract<00:16:27.760> hack 00:16:28.350 --> 00:16:28.360 align:start position:0% integration with HACC this contract hack 00:16:28.360 --> 00:16:30.389 align:start position:0% integration with HACC this contract hack this<00:16:28.510> contract<00:16:29.019> is<00:16:29.200> a<00:16:29.230> platform<00:16:30.160> that<00:16:30.279> we 00:16:30.389 --> 00:16:30.399 align:start position:0% this contract is a platform that we 00:16:30.399 --> 00:16:32.100 align:start position:0% this contract is a platform that we developed<00:16:30.790> a<00:16:30.880> few<00:16:31.000> months<00:16:31.240> ago<00:16:31.420> in<00:16:31.720> the<00:16:31.750> boot 00:16:32.100 --> 00:16:32.110 align:start position:0% developed a few months ago in the boot 00:16:32.110 --> 00:16:34.170 align:start position:0% developed a few months ago in the boot camp<00:16:32.320> for<00:16:32.500> the<00:16:32.560> ic3<00:16:32.860> boot<00:16:33.190> camp<00:16:33.399> which<00:16:33.940> has<00:16:34.149> a 00:16:34.170 --> 00:16:34.180 align:start position:0% camp for the ic3 boot camp which has a 00:16:34.180 --> 00:16:35.910 align:start position:0% camp for the ic3 boot camp which has a bunch<00:16:34.540> of<00:16:34.630> examples<00:16:34.779> of<00:16:35.230> intentionally 00:16:35.910 --> 00:16:35.920 align:start position:0% bunch of examples of intentionally 00:16:35.920 --> 00:16:37.650 align:start position:0% bunch of examples of intentionally vulnerable<00:16:36.370> and<00:16:36.550> insecure<00:16:36.670> solidity 00:16:37.650 --> 00:16:37.660 align:start position:0% vulnerable and insecure solidity 00:16:37.660 --> 00:16:39.810 align:start position:0% vulnerable and insecure solidity contracts<00:16:38.199> so<00:16:38.709> you<00:16:38.800> can<00:16:38.949> go<00:16:39.070> there<00:16:39.279> you<00:16:39.490> put<00:16:39.699> in 00:16:39.810 --> 00:16:39.820 align:start position:0% contracts so you can go there you put in 00:16:39.820 --> 00:16:41.759 align:start position:0% contracts so you can go there you put in your<00:16:40.029> account<00:16:40.209> for<00:16:40.720> the<00:16:40.810> test<00:16:41.440> net<00:16:41.589> we're 00:16:41.759 --> 00:16:41.769 align:start position:0% your account for the test net we're 00:16:41.769 --> 00:16:43.800 align:start position:0% your account for the test net we're using<00:16:41.949> rinkeby<00:16:42.339> right<00:16:42.579> now<00:16:42.730> it'll<00:16:43.329> deploy<00:16:43.750> you 00:16:43.800 --> 00:16:43.810 align:start position:0% using rinkeby right now it'll deploy you 00:16:43.810 --> 00:16:45.449 align:start position:0% using rinkeby right now it'll deploy you vulnerable<00:16:44.199> contracts<00:16:44.829> and<00:16:45.070> then<00:16:45.160> it's<00:16:45.310> your 00:16:45.449 --> 00:16:45.459 align:start position:0% vulnerable contracts and then it's your 00:16:45.459 --> 00:16:47.069 align:start position:0% vulnerable contracts and then it's your job<00:16:45.670> to<00:16:45.730> sort<00:16:46.089> of<00:16:46.149> hack<00:16:46.329> them<00:16:46.570> and<00:16:46.810> have<00:16:46.930> the 00:16:47.069 --> 00:16:47.079 align:start position:0% job to sort of hack them and have the 00:16:47.079 --> 00:16:49.230 align:start position:0% job to sort of hack them and have the site<00:16:47.260> tell<00:16:47.470> you<00:16:47.589> you<00:16:47.680> did<00:16:47.829> it<00:16:47.920> right<00:16:48.240> so 00:16:49.230 --> 00:16:49.240 align:start position:0% site tell you you did it right so 00:16:49.240 --> 00:16:50.670 align:start position:0% site tell you you did it right so ideally<00:16:49.690> we'd<00:16:49.870> like<00:16:49.899> to<00:16:50.079> sort<00:16:50.320> of<00:16:50.350> make<00:16:50.500> this<00:16:50.620> a 00:16:50.670 --> 00:16:50.680 align:start position:0% ideally we'd like to sort of make this a 00:16:50.680 --> 00:16:53.040 align:start position:0% ideally we'd like to sort of make this a hub<00:16:50.949> for<00:16:51.430> people<00:16:51.490> trying<00:16:52.089> to<00:16:52.269> hack<00:16:52.480> contracts 00:16:53.040 --> 00:16:53.050 align:start position:0% hub for people trying to hack contracts 00:16:53.050 --> 00:16:54.840 align:start position:0% hub for people trying to hack contracts and<00:16:53.290> we'd<00:16:53.740> like<00:16:53.890> to<00:16:53.920> have<00:16:54.100> sort<00:16:54.399> of<00:16:54.459> these<00:16:54.610> easy 00:16:54.840 --> 00:16:54.850 align:start position:0% and we'd like to have sort of these easy 00:16:54.850 --> 00:16:56.250 align:start position:0% and we'd like to have sort of these easy challenges<00:16:55.480> which<00:16:55.630> are<00:16:55.779> obviously 00:16:56.250 --> 00:16:56.260 align:start position:0% challenges which are obviously 00:16:56.260 --> 00:16:58.439 align:start position:0% challenges which are obviously vulnerable<00:16:56.829> as<00:16:57.010> well<00:16:57.550> as<00:16:57.699> these<00:16:57.850> harder 00:16:58.439 --> 00:16:58.449 align:start position:0% vulnerable as well as these harder 00:16:58.449 --> 00:17:00.990 align:start position:0% vulnerable as well as these harder challenges<00:16:58.959> that<00:16:59.170> we<00:16:59.290> think<00:16:59.560> that<00:16:59.920> are<00:17:00.339> secure 00:17:00.990 --> 00:17:01.000 align:start position:0% challenges that we think that are secure 00:17:01.000 --> 00:17:03.269 align:start position:0% challenges that we think that are secure and<00:17:01.209> cannot<00:17:01.480> be<00:17:01.630> broken<00:17:01.810> and<00:17:02.199> do<00:17:02.709> payout<00:17:03.040> real 00:17:03.269 --> 00:17:03.279 align:start position:0% and cannot be broken and do payout real 00:17:03.279 --> 00:17:05.610 align:start position:0% and cannot be broken and do payout real eath<00:17:03.579> in<00:17:03.820> the<00:17:04.120> case<00:17:04.270> you<00:17:04.390> do<00:17:04.510> break<00:17:04.720> them<00:17:04.870> so 00:17:05.610 --> 00:17:05.620 align:start position:0% eath in the case you do break them so 00:17:05.620 --> 00:17:07.620 align:start position:0% eath in the case you do break them so that's<00:17:06.069> a<00:17:06.250> future<00:17:06.669> direction<00:17:07.240> we're<00:17:07.360> working 00:17:07.620 --> 00:17:07.630 align:start position:0% that's a future direction we're working 00:17:07.630 --> 00:17:10.289 align:start position:0% that's a future direction we're working as<00:17:07.720> well<00:17:08.280> all<00:17:09.280> right<00:17:09.400> what<00:17:09.790> about<00:17:09.880> formal 00:17:10.289 --> 00:17:10.299 align:start position:0% as well all right what about formal 00:17:10.299 --> 00:17:11.610 align:start position:0% as well all right what about formal verification<00:17:10.449> I've<00:17:10.990> been<00:17:11.230> hearing<00:17:11.500> a<00:17:11.589> lot 00:17:11.610 --> 00:17:11.620 align:start position:0% verification I've been hearing a lot 00:17:11.620 --> 00:17:13.380 align:start position:0% verification I've been hearing a lot about<00:17:11.860> this<00:17:12.010> formal<00:17:12.640> verification<00:17:12.790> thing 00:17:13.380 --> 00:17:13.390 align:start position:0% about this formal verification thing 00:17:13.390 --> 00:17:15.000 align:start position:0% about this formal verification thing doesn't<00:17:13.689> it<00:17:13.720> make<00:17:13.900> this<00:17:14.020> whole<00:17:14.230> Hydra 00:17:15.000 --> 00:17:15.010 align:start position:0% doesn't it make this whole Hydra 00:17:15.010 --> 00:17:15.809 align:start position:0% doesn't it make this whole Hydra obsolete 00:17:15.809 --> 00:17:15.819 align:start position:0% obsolete 00:17:15.819 --> 00:17:18.630 align:start position:0% obsolete not<00:17:16.270> really<00:17:16.530> so<00:17:17.530> it<00:17:17.949> is<00:17:18.010> my<00:17:18.280> belief<00:17:18.339> that 00:17:18.630 --> 00:17:18.640 align:start position:0% not really so it is my belief that 00:17:18.640 --> 00:17:20.880 align:start position:0% not really so it is my belief that programmers<00:17:19.569> will<00:17:19.839> always<00:17:20.169> sort<00:17:20.410> of<00:17:20.470> develop 00:17:20.880 --> 00:17:20.890 align:start position:0% programmers will always sort of develop 00:17:20.890 --> 00:17:22.829 align:start position:0% programmers will always sort of develop past<00:17:21.220> what<00:17:21.640> the<00:17:21.790> formal<00:17:22.059> verification<00:17:22.209> allows 00:17:22.829 --> 00:17:22.839 align:start position:0% past what the formal verification allows 00:17:22.839 --> 00:17:25.500 align:start position:0% past what the formal verification allows them<00:17:23.049> to<00:17:23.199> prove<00:17:23.439> and<00:17:24.429> many<00:17:24.819> lower<00:17:25.059> assurance 00:17:25.500 --> 00:17:25.510 align:start position:0% them to prove and many lower assurance 00:17:25.510 --> 00:17:26.970 align:start position:0% them to prove and many lower assurance contracts<00:17:25.929> won't<00:17:26.169> want<00:17:26.319> to<00:17:26.439> put<00:17:26.589> in<00:17:26.679> the<00:17:26.770> cost 00:17:26.970 --> 00:17:26.980 align:start position:0% contracts won't want to put in the cost 00:17:26.980 --> 00:17:28.740 align:start position:0% contracts won't want to put in the cost to<00:17:27.130> do<00:17:27.220> full<00:17:27.429> formal<00:17:27.790> verification<00:17:27.939> which<00:17:28.540> can 00:17:28.740 --> 00:17:28.750 align:start position:0% to do full formal verification which can 00:17:28.750 --> 00:17:30.930 align:start position:0% to do full formal verification which can be<00:17:28.870> expensive<00:17:29.169> so<00:17:29.530> this<00:17:30.220> is<00:17:30.370> sort<00:17:30.520> of<00:17:30.610> a<00:17:30.700> lower 00:17:30.930 --> 00:17:30.940 align:start position:0% be expensive so this is sort of a lower 00:17:30.940 --> 00:17:32.760 align:start position:0% be expensive so this is sort of a lower bar<00:17:31.390> approach<00:17:31.809> you<00:17:32.140> only<00:17:32.290> need<00:17:32.500> to<00:17:32.559> develop 00:17:32.760 --> 00:17:32.770 align:start position:0% bar approach you only need to develop 00:17:32.770 --> 00:17:34.650 align:start position:0% bar approach you only need to develop your<00:17:32.890> contract<00:17:33.460> three<00:17:33.850> four<00:17:34.120> or<00:17:34.240> five<00:17:34.419> times 00:17:34.650 --> 00:17:34.660 align:start position:0% your contract three four or five times 00:17:34.660 --> 00:17:36.690 align:start position:0% your contract three four or five times whatever<00:17:34.990> most<00:17:35.980> of<00:17:36.100> these<00:17:36.220> contracts<00:17:36.610> are 00:17:36.690 --> 00:17:36.700 align:start position:0% whatever most of these contracts are 00:17:36.700 --> 00:17:38.070 align:start position:0% whatever most of these contracts are like<00:17:36.850> to<00:17:37.000> three<00:17:37.179> hundred<00:17:37.270> lines<00:17:37.600> so<00:17:37.840> this<00:17:37.960> is 00:17:38.070 --> 00:17:38.080 align:start position:0% like to three hundred lines so this is 00:17:38.080 --> 00:17:39.539 align:start position:0% like to three hundred lines so this is not<00:17:38.260> really<00:17:38.530> a<00:17:38.559> substantial<00:17:39.130> expense<00:17:39.460> that 00:17:39.539 --> 00:17:39.549 align:start position:0% not really a substantial expense that 00:17:39.549 --> 00:17:42.120 align:start position:0% not really a substantial expense that we're<00:17:39.790> talking<00:17:40.059> about<00:17:40.650> especially<00:17:41.650> when<00:17:42.010> you 00:17:42.120 --> 00:17:42.130 align:start position:0% we're talking about especially when you 00:17:42.130 --> 00:17:43.710 align:start position:0% we're talking about especially when you consider<00:17:42.400> that<00:17:42.490> they're<00:17:42.700> holding<00:17:42.850> in<00:17:43.240> cases 00:17:43.710 --> 00:17:43.720 align:start position:0% consider that they're holding in cases 00:17:43.720 --> 00:17:45.180 align:start position:0% consider that they're holding in cases hundreds<00:17:44.050> of<00:17:44.140> millions<00:17:44.440> or<00:17:44.500> even<00:17:44.590> billions<00:17:44.950> of 00:17:45.180 --> 00:17:45.190 align:start position:0% hundreds of millions or even billions of 00:17:45.190 --> 00:17:47.070 align:start position:0% hundreds of millions or even billions of dollars<00:17:45.520> in<00:17:45.669> user<00:17:45.820> funds 00:17:47.070 --> 00:17:47.080 align:start position:0% dollars in user funds 00:17:47.080 --> 00:17:48.600 align:start position:0% dollars in user funds so<00:17:47.380> we<00:17:47.620> see<00:17:47.800> this<00:17:47.890> as<00:17:48.040> sort<00:17:48.160> of<00:17:48.250> a<00:17:48.340> stopgap 00:17:48.600 --> 00:17:48.610 align:start position:0% so we see this as sort of a stopgap 00:17:48.610 --> 00:17:50.880 align:start position:0% so we see this as sort of a stopgap approach<00:17:49.120> to<00:17:49.360> formal<00:17:49.660> verification<00:17:49.840> with<00:17:50.770> the 00:17:50.880 --> 00:17:50.890 align:start position:0% approach to formal verification with the 00:17:50.890 --> 00:17:52.830 align:start position:0% approach to formal verification with the nice<00:17:51.040> property<00:17:51.520> that<00:17:51.670> it<00:17:51.820> encourages<00:17:52.360> you<00:17:52.570> and 00:17:52.830 --> 00:17:52.840 align:start position:0% nice property that it encourages you and 00:17:52.840 --> 00:17:54.240 align:start position:0% nice property that it encourages you and sort<00:17:53.050> of<00:17:53.080> requires<00:17:53.500> you<00:17:53.740> to<00:17:53.860> write<00:17:54.040> a<00:17:54.070> detailed 00:17:54.240 --> 00:17:54.250 align:start position:0% sort of requires you to write a detailed 00:17:54.250 --> 00:17:56.370 align:start position:0% sort of requires you to write a detailed specification<00:17:55.210> which<00:17:55.630> you<00:17:55.750> can<00:17:55.900> then<00:17:56.020> use<00:17:56.230> to 00:17:56.370 --> 00:17:56.380 align:start position:0% specification which you can then use to 00:17:56.380 --> 00:17:59.460 align:start position:0% specification which you can then use to formally<00:17:56.710> verify<00:17:57.070> your<00:17:57.220> contract<00:17:58.320> all<00:17:59.320> right 00:17:59.460 --> 00:17:59.470 align:start position:0% formally verify your contract all right 00:17:59.470 --> 00:18:00.630 align:start position:0% formally verify your contract all right the<00:17:59.620> last<00:17:59.740> thing<00:18:00.040> that<00:18:00.070> we<00:18:00.280> handle 00:18:00.630 --> 00:18:00.640 align:start position:0% the last thing that we handle 00:18:00.640 --> 00:18:01.470 align:start position:0% the last thing that we handle front-running 00:18:01.470 --> 00:18:01.480 align:start position:0% front-running 00:18:01.480 --> 00:18:03.540 align:start position:0% front-running so<00:18:01.810> we<00:18:01.960> have<00:18:02.080> this<00:18:02.230> problem<00:18:02.470> you<00:18:03.070> found<00:18:03.370> a<00:18:03.430> nice 00:18:03.540 --> 00:18:03.550 align:start position:0% so we have this problem you found a nice 00:18:03.550 --> 00:18:05.100 align:start position:0% so we have this problem you found a nice juicy<00:18:03.970> bounty<00:18:04.330> it's<00:18:04.480> worth<00:18:04.600> five<00:18:04.870> million 00:18:05.100 --> 00:18:05.110 align:start position:0% juicy bounty it's worth five million 00:18:05.110 --> 00:18:07.080 align:start position:0% juicy bounty it's worth five million dollars<00:18:05.560> you're<00:18:05.980> excited<00:18:06.550> to<00:18:06.640> claim<00:18:06.820> it<00:18:06.970> and 00:18:07.080 --> 00:18:07.090 align:start position:0% dollars you're excited to claim it and 00:18:07.090 --> 00:18:09.210 align:start position:0% dollars you're excited to claim it and become<00:18:07.300> the<00:18:07.420> next<00:18:07.540> Eve<00:18:07.900> millionaire<00:18:08.470> so<00:18:09.130> you 00:18:09.210 --> 00:18:09.220 align:start position:0% become the next Eve millionaire so you 00:18:09.220 --> 00:18:10.770 align:start position:0% become the next Eve millionaire so you submit<00:18:09.520> it<00:18:09.610> to<00:18:09.640> the<00:18:09.760> chain<00:18:10.000> and<00:18:10.270> then<00:18:10.450> someone 00:18:10.770 --> 00:18:10.780 align:start position:0% submit it to the chain and then someone 00:18:10.780 --> 00:18:12.510 align:start position:0% submit it to the chain and then someone else<00:18:10.870> sees<00:18:11.170> it<00:18:11.200> or<00:18:11.470> some<00:18:11.740> script<00:18:12.070> sees<00:18:12.280> it<00:18:12.400> or 00:18:12.510 --> 00:18:12.520 align:start position:0% else sees it or some script sees it or 00:18:12.520 --> 00:18:14.130 align:start position:0% else sees it or some script sees it or some<00:18:12.700> miners<00:18:13.030> sees<00:18:13.210> it<00:18:13.390> and<00:18:13.510> sort<00:18:14.050> of 00:18:14.130 --> 00:18:14.140 align:start position:0% some miners sees it and sort of 00:18:14.140 --> 00:18:15.930 align:start position:0% some miners sees it and sort of rebroadcast<00:18:14.830> the<00:18:14.950> same<00:18:15.190> transaction<00:18:15.790> with<00:18:15.910> a 00:18:15.930 --> 00:18:15.940 align:start position:0% rebroadcast the same transaction with a 00:18:15.940 --> 00:18:17.460 align:start position:0% rebroadcast the same transaction with a higher<00:18:16.120> gas<00:18:16.390> cost<00:18:16.720> getting<00:18:17.080> mine<00:18:17.260> before 00:18:17.460 --> 00:18:17.470 align:start position:0% higher gas cost getting mine before 00:18:17.470 --> 00:18:19.380 align:start position:0% higher gas cost getting mine before yours<00:18:17.830> suddenly<00:18:18.790> they've<00:18:18.940> got<00:18:19.120> the<00:18:19.240> five 00:18:19.380 --> 00:18:19.390 align:start position:0% yours suddenly they've got the five 00:18:19.390 --> 00:18:21.840 align:start position:0% yours suddenly they've got the five million<00:18:19.750> and<00:18:19.870> you've<00:18:19.960> got<00:18:20.140> nothing<00:18:20.290> so<00:18:20.850> this 00:18:21.840 --> 00:18:21.850 align:start position:0% million and you've got nothing so this 00:18:21.850 --> 00:18:23.160 align:start position:0% million and you've got nothing so this sounds<00:18:22.090> pretty<00:18:22.210> bad<00:18:22.420> and<00:18:22.600> it<00:18:22.690> actually<00:18:22.990> gets 00:18:23.160 --> 00:18:23.170 align:start position:0% sounds pretty bad and it actually gets 00:18:23.170 --> 00:18:25.410 align:start position:0% sounds pretty bad and it actually gets worse<00:18:23.260> if<00:18:24.070> you<00:18:24.310> allow<00:18:24.520> this<00:18:24.700> issue<00:18:24.880> to<00:18:25.060> persist 00:18:25.410 --> 00:18:25.420 align:start position:0% worse if you allow this issue to persist 00:18:25.420 --> 00:18:26.880 align:start position:0% worse if you allow this issue to persist it<00:18:25.600> breaks<00:18:25.810> our<00:18:25.960> whole<00:18:26.110> economic<00:18:26.290> game 00:18:26.880 --> 00:18:26.890 align:start position:0% it breaks our whole economic game 00:18:26.890 --> 00:18:29.310 align:start position:0% it breaks our whole economic game because<00:18:27.730> what<00:18:28.030> an<00:18:28.120> adversary<00:18:28.690> a<00:18:28.780> powerful 00:18:29.310 --> 00:18:29.320 align:start position:0% because what an adversary a powerful 00:18:29.320 --> 00:18:30.900 align:start position:0% because what an adversary a powerful adversary<00:18:29.770> can<00:18:29.980> do<00:18:30.100> that<00:18:30.250> has<00:18:30.340> a<00:18:30.400> good<00:18:30.610> network 00:18:30.900 --> 00:18:30.910 align:start position:0% adversary can do that has a good network 00:18:30.910 --> 00:18:32.880 align:start position:0% adversary can do that has a good network connection<00:18:31.330> is<00:18:31.540> sort<00:18:32.080> of<00:18:32.140> fine<00:18:32.380> and<00:18:32.530> exploit 00:18:32.880 --> 00:18:32.890 align:start position:0% connection is sort of fine and exploit 00:18:32.890 --> 00:18:34.200 align:start position:0% connection is sort of fine and exploit and<00:18:33.100> then<00:18:33.190> sit<00:18:33.460> on<00:18:33.490> it<00:18:33.760> until<00:18:34.060> they<00:18:34.180> see 00:18:34.200 --> 00:18:34.210 align:start position:0% and then sit on it until they see 00:18:34.210 --> 00:18:35.940 align:start position:0% and then sit on it until they see someone<00:18:34.690> else<00:18:34.840> has<00:18:35.020> also<00:18:35.200> found<00:18:35.500> an<00:18:35.620> exploit 00:18:35.940 --> 00:18:35.950 align:start position:0% someone else has also found an exploit 00:18:35.950 --> 00:18:37.890 align:start position:0% someone else has also found an exploit and<00:18:36.670> then<00:18:36.850> release<00:18:37.150> it<00:18:37.180> so<00:18:37.450> they<00:18:37.540> can<00:18:37.660> sort<00:18:37.840> of 00:18:37.890 --> 00:18:37.900 align:start position:0% and then release it so they can sort of 00:18:37.900 --> 00:18:39.690 align:start position:0% and then release it so they can sort of keep<00:18:38.200> trying<00:18:38.560> to<00:18:38.740> break<00:18:38.920> the<00:18:39.070> full<00:18:39.220> contract 00:18:39.690 --> 00:18:39.700 align:start position:0% keep trying to break the full contract 00:18:39.700 --> 00:18:41.610 align:start position:0% keep trying to break the full contract and<00:18:39.910> withhold<00:18:40.390> their<00:18:40.750> exploit<00:18:41.140> from<00:18:41.410> the 00:18:41.610 --> 00:18:41.620 align:start position:0% and withhold their exploit from the 00:18:41.620 --> 00:18:43.680 align:start position:0% and withhold their exploit from the bounty<00:18:41.890> process<00:18:42.310> which<00:18:43.060> is<00:18:43.300> obviously 00:18:43.680 --> 00:18:43.690 align:start position:0% bounty process which is obviously 00:18:43.690 --> 00:18:45.390 align:start position:0% bounty process which is obviously something<00:18:43.930> that<00:18:44.050> we'd<00:18:44.260> like<00:18:44.290> to<00:18:44.440> prevent<00:18:44.800> so 00:18:45.390 --> 00:18:45.400 align:start position:0% something that we'd like to prevent so 00:18:45.400 --> 00:18:46.860 align:start position:0% something that we'd like to prevent so we<00:18:45.580> introduced<00:18:45.970> this<00:18:46.060> new<00:18:46.210> scheme<00:18:46.450> we<00:18:46.750> have<00:18:46.780> a 00:18:46.860 --> 00:18:46.870 align:start position:0% we introduced this new scheme we have a 00:18:46.870 --> 00:18:48.180 align:start position:0% we introduced this new scheme we have a blog<00:18:47.110> post<00:18:47.140> on<00:18:47.470> it<00:18:47.620> it's<00:18:47.740> called<00:18:47.920> submarine 00:18:48.180 --> 00:18:48.190 align:start position:0% blog post on it it's called submarine 00:18:48.190 --> 00:18:50.610 align:start position:0% blog post on it it's called submarine commitments<00:18:48.850> it's<00:18:49.630> used<00:18:49.930> in<00:18:50.260> the<00:18:50.290> Hydra 00:18:50.610 --> 00:18:50.620 align:start position:0% commitments it's used in the Hydra 00:18:50.620 --> 00:18:52.530 align:start position:0% commitments it's used in the Hydra project<00:18:51.070> not<00:18:51.610> in<00:18:51.790> the<00:18:51.910> current<00:18:52.240> alpha 00:18:52.530 --> 00:18:52.540 align:start position:0% project not in the current alpha 00:18:52.540 --> 00:18:53.850 align:start position:0% project not in the current alpha prototype<00:18:52.990> which<00:18:53.200> is<00:18:53.320> only<00:18:53.440> intended<00:18:53.710> for 00:18:53.850 --> 00:18:53.860 align:start position:0% prototype which is only intended for 00:18:53.860 --> 00:18:55.910 align:start position:0% prototype which is only intended for small<00:18:54.100> amounts<00:18:54.580> but<00:18:54.700> we<00:18:54.820> do<00:18:54.940> have<00:18:55.090> code<00:18:55.330> for<00:18:55.540> it 00:18:55.910 --> 00:18:55.920 align:start position:0% small amounts but we do have code for it 00:18:55.920 --> 00:19:00.090 align:start position:0% small amounts but we do have code for it and<00:18:56.920> we're<00:18:57.880> sort<00:18:58.090> of<00:18:58.180> waiting<00:18:58.420> on<00:18:58.510> a<00:18:58.690> IP<00:18:58.840> e<00:18:59.380> IP 00:19:00.090 --> 00:19:00.100 align:start position:0% and we're sort of waiting on a IP e IP 00:19:00.100 --> 00:19:02.100 align:start position:0% and we're sort of waiting on a IP e IP 86<00:19:00.610> to<00:19:01.030> be<00:19:01.120> released<00:19:01.420> which<00:19:01.630> is<00:19:01.750> what<00:19:01.870> we<00:19:01.960> need 00:19:02.100 --> 00:19:02.110 align:start position:0% 86 to be released which is what we need 00:19:02.110 --> 00:19:05.730 align:start position:0% 86 to be released which is what we need to<00:19:02.140> deploy<00:19:02.590> this<00:19:03.060> and<00:19:04.200> after<00:19:05.200> that<00:19:05.440> we<00:19:05.650> will 00:19:05.730 --> 00:19:05.740 align:start position:0% to deploy this and after that we will 00:19:05.740 --> 00:19:07.170 align:start position:0% to deploy this and after that we will have<00:19:05.800> submarine<00:19:06.340> commitment<00:19:06.790> enabled 00:19:07.170 --> 00:19:07.180 align:start position:0% have submarine commitment enabled 00:19:07.180 --> 00:19:08.850 align:start position:0% have submarine commitment enabled bounties<00:19:07.630> and<00:19:07.780> the<00:19:08.140> nice<00:19:08.320> thing<00:19:08.350> is<00:19:08.590> this<00:19:08.680> can 00:19:08.850 --> 00:19:08.860 align:start position:0% bounties and the nice thing is this can 00:19:08.860 --> 00:19:11.340 align:start position:0% bounties and the nice thing is this can even<00:19:09.040> be<00:19:09.130> used<00:19:09.220> outside<00:19:09.460> of<00:19:09.670> bounties<00:19:10.350> all 00:19:11.340 --> 00:19:11.350 align:start position:0% even be used outside of bounties all 00:19:11.350 --> 00:19:13.860 align:start position:0% even be used outside of bounties all right<00:19:11.760> so<00:19:12.760> the<00:19:12.850> research<00:19:13.090> contributions<00:19:13.690> here 00:19:13.860 --> 00:19:13.870 align:start position:0% right so the research contributions here 00:19:13.870 --> 00:19:15.300 align:start position:0% right so the research contributions here we<00:19:13.990> have<00:19:14.110> the<00:19:14.230> first<00:19:14.410> rigorous<00:19:15.040> crypto 00:19:15.300 --> 00:19:15.310 align:start position:0% we have the first rigorous crypto 00:19:15.310 --> 00:19:17.220 align:start position:0% we have the first rigorous crypto economic<00:19:15.760> reasoning<00:19:16.210> on<00:19:16.390> what<00:19:16.720> used<00:19:16.870> to<00:19:16.960> be<00:19:17.110> ad 00:19:17.220 --> 00:19:17.230 align:start position:0% economic reasoning on what used to be ad 00:19:17.230 --> 00:19:19.080 align:start position:0% economic reasoning on what used to be ad hoc<00:19:17.470> security<00:19:17.890> and<00:19:18.010> bug<00:19:18.160> bounties<00:19:18.520> including 00:19:19.080 --> 00:19:19.090 align:start position:0% hoc security and bug bounties including 00:19:19.090 --> 00:19:21.030 align:start position:0% hoc security and bug bounties including how<00:19:19.570> to<00:19:19.630> price<00:19:19.900> them<00:19:20.110> we<00:19:20.350> have<00:19:20.470> a<00:19:20.500> model<00:19:20.890> for 00:19:21.030 --> 00:19:21.040 align:start position:0% how to price them we have a model for 00:19:21.040 --> 00:19:22.250 align:start position:0% how to price them we have a model for how<00:19:21.100> to<00:19:21.130> price<00:19:21.400> these<00:19:21.550> things<00:19:21.790> in<00:19:21.880> our<00:19:21.970> paper 00:19:22.250 --> 00:19:22.260 align:start position:0% how to price these things in our paper 00:19:22.260 --> 00:19:25.050 align:start position:0% how to price these things in our paper we<00:19:23.260> have<00:19:23.410> an<00:19:23.560> N<00:19:23.710> head<00:19:24.010> approach<00:19:24.340> for<00:19:24.670> achieving 00:19:25.050 --> 00:19:25.060 align:start position:0% we have an N head approach for achieving 00:19:25.060 --> 00:19:26.550 align:start position:0% we have an N head approach for achieving this<00:19:25.180> exploit<00:19:25.630> gap<00:19:25.810> concept<00:19:26.290> that<00:19:26.410> we've 00:19:26.550 --> 00:19:26.560 align:start position:0% this exploit gap concept that we've 00:19:26.560 --> 00:19:28.650 align:start position:0% this exploit gap concept that we've introduced<00:19:26.950> we've<00:19:27.790> introduced<00:19:28.210> software<00:19:28.540> and 00:19:28.650 --> 00:19:28.660 align:start position:0% introduced we've introduced software and 00:19:28.660 --> 00:19:29.970 align:start position:0% introduced we've introduced software and bounty<00:19:28.930> code<00:19:29.110> development<00:19:29.440> so<00:19:29.710> put<00:19:29.890> the 00:19:29.970 --> 00:19:29.980 align:start position:0% bounty code development so put the 00:19:29.980 --> 00:19:31.080 align:start position:0% bounty code development so put the bounty<00:19:30.340> in<00:19:30.520> the<00:19:30.730> software<00:19:31.000> development 00:19:31.080 --> 00:19:31.090 align:start position:0% bounty in the software development 00:19:31.090 --> 00:19:33.030 align:start position:0% bounty in the software development process<00:19:31.480> as<00:19:31.930> a<00:19:31.960> first-class<00:19:32.350> citizen 00:19:33.030 --> 00:19:33.040 align:start position:0% process as a first-class citizen 00:19:33.040 --> 00:19:35.400 align:start position:0% process as a first-class citizen we've<00:19:33.640> sort<00:19:33.880> of<00:19:33.970> revived<00:19:34.330> this<00:19:34.540> old<00:19:34.840> and<00:19:35.140> sort 00:19:35.400 --> 00:19:35.410 align:start position:0% we've sort of revived this old and sort 00:19:35.410 --> 00:19:37.230 align:start position:0% we've sort of revived this old and sort of<00:19:35.500> stale<00:19:35.740> and<00:19:35.920> dead<00:19:36.070> and<00:19:36.310> head<00:19:36.550> approach<00:19:36.880> for 00:19:37.230 --> 00:19:37.240 align:start position:0% of stale and dead and head approach for 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it's<00:19:43.840> the<00:19:43.960> only<00:19:44.110> one<00:19:44.320> that 00:19:44.370 --> 00:19:44.380 align:start position:0% maenette because it's the only one that 00:19:44.380 --> 00:19:46.020 align:start position:0% maenette because it's the only one that really<00:19:44.590> has<00:19:44.860> these<00:19:45.070> rigorous<00:19:45.310> economic 00:19:46.020 --> 00:19:46.030 align:start position:0% really has these rigorous economic 00:19:46.030 --> 00:19:49.140 align:start position:0% really has these rigorous economic guarantees<00:19:46.390> of<00:19:46.900> security<00:19:47.590> and<00:19:47.860> a<00:19:48.760> really<00:19:49.000> nice 00:19:49.140 --> 00:19:49.150 align:start position:0% guarantees of security and a really nice 00:19:49.150 --> 00:19:50.280 align:start position:0% guarantees of security and a really nice thing<00:19:49.330> I'd<00:19:49.420> like<00:19:49.540> to<00:19:49.660> point<00:19:49.810> out<00:19:49.930> here<00:19:50.110> is<00:19:50.170> that 00:19:50.280 --> 00:19:50.290 align:start position:0% thing I'd like to point out here is that 00:19:50.290 --> 00:19:52.200 align:start position:0% thing I'd like to point out here is that this<00:19:50.620> kind<00:19:50.920> of<00:19:51.070> bounty<00:19:51.640> this<00:19:51.970> kind<00:19:52.150> of 00:19:52.200 --> 00:19:52.210 align:start position:0% this kind of bounty this kind of 00:19:52.210 --> 00:19:54.000 align:start position:0% this kind of bounty this kind of decentralized<00:19:52.720> process<00:19:52.870> is<00:19:53.200> not<00:19:53.470> possible 00:19:54.000 --> 00:19:54.010 align:start position:0% decentralized process is not possible 00:19:54.010 --> 00:19:55.650 align:start position:0% decentralized process is not possible outside<00:19:54.250> of<00:19:54.580> smart<00:19:54.790> contracts<00:19:55.210> so<00:19:55.390> this<00:19:55.540> is 00:19:55.650 --> 00:19:55.660 align:start position:0% outside of smart contracts so this is 00:19:55.660 --> 00:19:57.030 align:start position:0% outside of smart contracts so this is something<00:19:55.810> new<00:19:55.930> enabled<00:19:56.410> by<00:19:56.500> these<00:19:56.680> systems 00:19:57.030 --> 00:19:57.040 align:start position:0% something new enabled by these systems 00:19:57.040 --> 00:19:58.920 align:start position:0% something new enabled by these systems all<00:19:57.880> right<00:19:58.030> what<00:19:58.210> do<00:19:58.270> we<00:19:58.300> want<00:19:58.510> from<00:19:58.630> you<00:19:58.720> guys 00:19:58.920 --> 00:19:58.930 align:start position:0% all right what do we want from you guys 00:19:58.930 --> 00:20:00.710 align:start position:0% all right what do we want from you guys they<00:19:59.110> have<00:19:59.260> 20<00:19:59.680> seconds<00:20:00.010> left 00:20:00.710 --> 00:20:00.720 align:start position:0% they have 20 seconds left 00:20:00.720 --> 00:20:02.990 align:start position:0% they have 20 seconds left hack<00:20:01.110> the<00:20:01.350> contract<00:20:01.770> join<00:20:02.130> the<00:20:02.250> riot<00:20:02.429> claim 00:20:02.990 --> 00:20:03.000 align:start position:0% hack the contract join the riot claim 00:20:03.000 --> 00:20:04.580 align:start position:0% hack the contract join the riot claim some<00:20:03.210> bounties<00:20:03.539> it's<00:20:03.809> alpha<00:20:04.169> should<00:20:04.350> be<00:20:04.409> easy 00:20:04.580 --> 00:20:04.590 align:start position:0% some bounties it's alpha should be easy 00:20:04.590 --> 00:20:06.980 align:start position:0% some bounties it's alpha should be easy money<00:20:04.770> if<00:20:05.070> you<00:20:05.640> want<00:20:05.820> to<00:20:05.909> be<00:20:06.000> spoke<00:20:06.240> about<00:20:06.270> tea 00:20:06.980 --> 00:20:06.990 align:start position:0% money if you want to be spoke about tea 00:20:06.990 --> 00:20:08.480 align:start position:0% money if you want to be spoke about tea for<00:20:07.200> your<00:20:07.289> token<00:20:07.590> or<00:20:07.679> whatever<00:20:07.919> feel<00:20:08.309> free<00:20:08.460> to 00:20:08.480 --> 00:20:08.490 align:start position:0% for your token or whatever feel free to 00:20:08.490 --> 00:20:11.120 align:start position:0% for your token or whatever feel free to get<00:20:08.669> in<00:20:08.730> touch<00:20:08.870> feedback<00:20:09.870> on<00:20:10.230> paper<00:20:10.500> code<00:20:10.830> is 00:20:11.120 --> 00:20:11.130 align:start position:0% get in touch feedback on paper code is 00:20:11.130 --> 00:20:13.549 align:start position:0% get in touch feedback on paper code is always<00:20:11.520> appreciated<00:20:12.179> and<00:20:12.330> eventually<00:20:13.260> if<00:20:13.380> the 00:20:13.549 --> 00:20:13.559 align:start position:0% always appreciated and eventually if the 00:20:13.559 --> 00:20:14.899 align:start position:0% always appreciated and eventually if the community<00:20:14.070> or<00:20:14.159> some<00:20:14.400> projects<00:20:14.789> in<00:20:14.820> the 00:20:14.899 --> 00:20:14.909 align:start position:0% community or some projects in the 00:20:14.909 --> 00:20:16.190 align:start position:0% community or some projects in the community<00:20:15.240> that<00:20:15.330> are<00:20:15.450> doing<00:20:15.480> really<00:20:15.809> well<00:20:15.900> and 00:20:16.190 --> 00:20:16.200 align:start position:0% community that are doing really well and 00:20:16.200 --> 00:20:17.840 align:start position:0% community that are doing really well and use<00:20:16.409> the<00:20:16.590> ERC<00:20:16.830> 20<00:20:17.159> code<00:20:17.309> can<00:20:17.490> contribute<00:20:17.700> to 00:20:17.840 --> 00:20:17.850 align:start position:0% use the ERC 20 code can contribute to 00:20:17.850 --> 00:20:19.779 align:start position:0% use the ERC 20 code can contribute to these<00:20:17.940> bounties<00:20:18.360> that<00:20:18.570> would<00:20:19.020> be<00:20:19.110> incredible 00:20:19.779 --> 00:20:19.789 align:start position:0% these bounties that would be incredible 00:20:19.789 --> 00:20:23.360 align:start position:0% these bounties that would be incredible so<00:20:20.789> yeah<00:20:20.970> please<00:20:21.150> give<00:20:21.860> special<00:20:22.860> thanks<00:20:23.280> to 00:20:23.360 --> 00:20:23.370 align:start position:0% so yeah please give special thanks to 00:20:23.370 --> 00:20:25.070 align:start position:0% so yeah please give special thanks to the<00:20:23.460> NSF<00:20:23.850> for<00:20:24.030> funding<00:20:24.330> this<00:20:24.419> project<00:20:24.600> both 00:20:25.070 --> 00:20:25.080 align:start position:0% the NSF for funding this project both 00:20:25.080 --> 00:20:27.049 align:start position:0% the NSF for funding this project both through<00:20:25.320> grants<00:20:25.710> and<00:20:25.919> through<00:20:26.190> a<00:20:26.220> graduate 00:20:27.049 --> 00:20:27.059 align:start position:0% through grants and through a graduate 00:20:27.059 --> 00:20:28.970 align:start position:0% through grants and through a graduate research<00:20:27.090> fellowship<00:20:27.809> for<00:20:27.990> me<00:20:28.110> thanks<00:20:28.830> to<00:20:28.950> our 00:20:28.970 --> 00:20:28.980 align:start position:0% research fellowship for me thanks to our 00:20:28.980 --> 00:20:32.690 align:start position:0% research fellowship for me thanks to our reviewers<00:20:29.820> Rahul<00:20:30.539> and<00:20:30.960> Paul<00:20:31.770> for<00:20:32.400> reviewing 00:20:32.690 --> 00:20:32.700 align:start position:0% reviewers Rahul and Paul for reviewing 00:20:32.700 --> 00:20:35.210 align:start position:0% reviewers Rahul and Paul for reviewing this<00:20:32.789> paper<00:20:33.000> and<00:20:33.470> thank<00:20:34.470> you<00:20:34.559> to<00:20:34.710> our<00:20:34.740> IC<00:20:35.100> 3 00:20:35.210 --> 00:20:35.220 align:start position:0% this paper and thank you to our IC 3 00:20:35.220 --> 00:20:36.799 align:start position:0% this paper and thank you to our IC 3 industry<00:20:35.580> sponsors<00:20:35.940> that<00:20:36.090> chain<00:20:36.299> Microsoft 00:20:36.799 --> 00:20:36.809 align:start position:0% industry sponsors that chain Microsoft 00:20:36.809 --> 00:20:39.080 align:start position:0% industry sponsors that chain Microsoft Intel<00:20:37.110> fidelity<00:20:37.679> digital<00:20:38.159> asset<00:20:38.490> IBM<00:20:38.880> and 00:20:39.080 --> 00:20:39.090 align:start position:0% Intel fidelity digital asset IBM and 00:20:39.090 --> 00:20:40.880 align:start position:0% Intel fidelity digital asset IBM and Shady<00:20:39.330> Morgan<00:20:39.659> for<00:20:40.020> sponsoring<00:20:40.530> this<00:20:40.710> work 00:20:40.880 --> 00:20:40.890 align:start position:0% Shady Morgan for sponsoring this work 00:20:40.890 --> 00:20:42.880 align:start position:0% Shady Morgan for sponsoring this work and<00:20:41.130> thank<00:20:41.760> you<00:20:41.940> all<00:20:42.090> of<00:20:42.120> you<00:20:42.330> for<00:20:42.390> listening 00:20:42.880 --> 00:20:42.890 align:start position:0% and thank you all of you for listening 00:20:42.890 --> 00:20:45.560 align:start position:0% and thank you all of you for listening here's<00:20:43.890> the<00:20:44.130> official<00:20:44.640> sponsorship<00:20:45.419> and 00:20:45.560 --> 00:20:45.570 align:start position:0% here's the official sponsorship and 00:20:45.570 --> 00:20:48.640 align:start position:0% here's the official sponsorship and disclaimer<00:20:45.900> slide<00:20:46.080> and<00:20:46.470> that's<00:20:47.220> it<00:20:47.340> thank<00:20:47.610> you 00:20:48.640 --> 00:20:48.650 align:start position:0% disclaimer slide and that's it thank you 00:20:48.650 --> 00:20:55.900 align:start position:0% disclaimer slide and that's it thank you [Applause] 00:20:55.900 --> 00:20:55.910 align:start position:0% [Applause] 00:20:55.910 --> 00:21:03.410 align:start position:0% [Applause] [Music]