WEBVTT Kind: captions Language: en 00:00:00.980 --> 00:00:14.270 align:start position:0% [Music] 00:00:14.270 --> 00:00:14.280 align:start position:0% [Music] 00:00:14.280 --> 00:00:18.349 align:start position:0% [Music] so<00:00:15.160> welcome<00:00:15.720> to<00:00:16.720> uh<00:00:16.920> day<00:00:17.279> day<00:00:17.480> number<00:00:18.119> number 00:00:18.349 --> 00:00:18.359 align:start position:0% so welcome to uh day day number number 00:00:18.359 --> 00:00:20.710 align:start position:0% so welcome to uh day day number number four<00:00:18.640> of<00:00:18.800> death<00:00:19.119> card<00:00:19.439> we<00:00:19.560> use<00:00:19.760> zero<00:00:20.400> in<00:00:20.600> here 00:00:20.710 --> 00:00:20.720 align:start position:0% four of death card we use zero in here 00:00:20.720 --> 00:00:23.310 align:start position:0% four of death card we use zero in here we're<00:00:20.880> a<00:00:20.960> civilized<00:00:21.640> company 00:00:23.310 --> 00:00:23.320 align:start position:0% we're a civilized company 00:00:23.320 --> 00:00:27.509 align:start position:0% we're a civilized company um<00:00:24.320> yeah<00:00:25.119> no<00:00:25.279> the<00:00:25.359> first<00:00:25.560> day<00:00:25.720> was<00:00:25.920> Day 00:00:27.509 --> 00:00:27.519 align:start position:0% um yeah no the first day was Day 00:00:27.519 --> 00:00:30.349 align:start position:0% um yeah no the first day was Day Zero<00:00:28.519> so 00:00:30.349 --> 00:00:30.359 align:start position:0% Zero so 00:00:30.359 --> 00:00:32.549 align:start position:0% Zero so the<00:00:30.560> so<00:00:31.039> so<00:00:31.400> so<00:00:31.599> today<00:00:31.840> we're<00:00:32.000> going<00:00:32.160> to<00:00:32.320> be 00:00:32.549 --> 00:00:32.559 align:start position:0% the so so so today we're going to be 00:00:32.559 --> 00:00:34.990 align:start position:0% the so so so today we're going to be talking<00:00:33.040> about<00:00:33.719> scaling<00:00:34.480> and 00:00:34.990 --> 00:00:35.000 align:start position:0% talking about scaling and 00:00:35.000 --> 00:00:36.670 align:start position:0% talking about scaling and interoperability<00:00:36.000> and<00:00:36.160> well<00:00:36.280> today<00:00:36.520> in 00:00:36.670 --> 00:00:36.680 align:start position:0% interoperability and well today in 00:00:36.680 --> 00:00:38.030 align:start position:0% interoperability and well today in general<00:00:37.000> we're<00:00:37.160> going<00:00:37.280> to<00:00:37.399> be<00:00:37.520> talking<00:00:37.800> about 00:00:38.030 --> 00:00:38.040 align:start position:0% general we're going to be talking about 00:00:38.040 --> 00:00:42.110 align:start position:0% general we're going to be talking about ethereum<00:00:38.480> 1.1<00:00:39.000> and<00:00:39.120> ethereum<00:00:39.640> 2.0<00:00:40.800> and<00:00:41.800> uh<00:00:41.960> and 00:00:42.110 --> 00:00:42.120 align:start position:0% ethereum 1.1 and ethereum 2.0 and uh and 00:00:42.120 --> 00:00:44.190 align:start position:0% ethereum 1.1 and ethereum 2.0 and uh and the<00:00:42.320> general<00:00:42.719> blockchain<00:00:43.239> protocol<00:00:43.680> related 00:00:44.190 --> 00:00:44.200 align:start position:0% the general blockchain protocol related 00:00:44.200 --> 00:00:46.350 align:start position:0% the general blockchain protocol related stuff<00:00:44.760> so<00:00:45.000> first<00:00:45.320> presentation<00:00:45.840> we<00:00:46.039> have<00:00:46.239> is 00:00:46.350 --> 00:00:46.360 align:start position:0% stuff so first presentation we have is 00:00:46.360 --> 00:00:48.229 align:start position:0% stuff so first presentation we have is on<00:00:46.640> scaling<00:00:47.160> and 00:00:48.229 --> 00:00:48.239 align:start position:0% on scaling and 00:00:48.239 --> 00:00:51.150 align:start position:0% on scaling and interoperability<00:00:49.239> so<00:00:50.079> I<00:00:50.199> guess<00:00:50.320> to<00:00:50.520> start<00:00:50.840> off 00:00:51.150 --> 00:00:51.160 align:start position:0% interoperability so I guess to start off 00:00:51.160 --> 00:00:52.990 align:start position:0% interoperability so I guess to start off first<00:00:51.360> of<00:00:51.480> all<00:00:51.840> what<00:00:52.079> is<00:00:52.239> you<00:00:52.359> know<00:00:52.600> what<00:00:52.840> what 00:00:52.990 --> 00:00:53.000 align:start position:0% first of all what is you know what what 00:00:53.000 --> 00:00:54.830 align:start position:0% first of all what is you know what what is<00:00:53.199> scale<00:00:53.640> what<00:00:53.840> what<00:00:54.000> is<00:00:54.120> scalability<00:00:54.719> what 00:00:54.830 --> 00:00:54.840 align:start position:0% is scale what what is scalability what 00:00:54.840 --> 00:00:56.510 align:start position:0% is scale what what is scalability what do<00:00:54.960> we<00:00:55.120> want<00:00:55.359> out<00:00:55.520> of 00:00:56.510 --> 00:00:56.520 align:start position:0% do we want out of 00:00:56.520 --> 00:00:59.069 align:start position:0% do we want out of scalability<00:00:57.520> sure<00:00:58.120> so<00:00:58.440> in<00:00:58.559> an<00:00:58.680> ordinary 00:00:59.069 --> 00:00:59.079 align:start position:0% scalability sure so in an ordinary 00:00:59.079 --> 00:01:01.189 align:start position:0% scalability sure so in an ordinary blockchain<00:00:59.519> like<00:00:59.640> how<00:01:00.160> every<00:01:00.359> node<00:01:00.680> processes 00:01:01.189 --> 00:01:01.199 align:start position:0% blockchain like how every node processes 00:01:01.199 --> 00:01:03.470 align:start position:0% blockchain like how every node processes every<00:01:01.440> trans<00:01:01.920> transaction<00:01:02.680> and<00:01:02.879> updates 00:01:03.470 --> 00:01:03.480 align:start position:0% every trans transaction and updates 00:01:03.480 --> 00:01:05.190 align:start position:0% every trans transaction and updates every<00:01:03.680> full<00:01:03.879> node<00:01:04.159> anyways<00:01:04.519> processes<00:01:04.879> every 00:01:05.190 --> 00:01:05.200 align:start position:0% every full node anyways processes every 00:01:05.200 --> 00:01:08.469 align:start position:0% every full node anyways processes every transaction<00:01:06.200> and<00:01:06.520> so<00:01:07.400> uh<00:01:07.680> the<00:01:07.799> scalability 00:01:08.469 --> 00:01:08.479 align:start position:0% transaction and so uh the scalability 00:01:08.479 --> 00:01:10.109 align:start position:0% transaction and so uh the scalability system<00:01:08.680> is<00:01:08.840> kind<00:01:08.960> of<00:01:09.119> limited<00:01:09.560> by<00:01:09.680> the<00:01:09.840> fact 00:01:10.109 --> 00:01:10.119 align:start position:0% system is kind of limited by the fact 00:01:10.119 --> 00:01:12.630 align:start position:0% system is kind of limited by the fact that<00:01:10.680> every<00:01:10.880> no<00:01:11.119> needs<00:01:11.280> to<00:01:11.360> do<00:01:11.560> everything<00:01:12.560> uh 00:01:12.630 --> 00:01:12.640 align:start position:0% that every no needs to do everything uh 00:01:12.640 --> 00:01:14.030 align:start position:0% that every no needs to do everything uh so<00:01:12.759> what<00:01:12.840> we<00:01:12.960> want<00:01:13.040> to<00:01:13.119> do<00:01:13.240> is<00:01:13.479> relax<00:01:13.840> that 00:01:14.030 --> 00:01:14.040 align:start position:0% so what we want to do is relax that 00:01:14.040 --> 00:01:15.950 align:start position:0% so what we want to do is relax that assumption<00:01:14.799> but<00:01:14.960> still<00:01:15.240> have<00:01:15.400> the<00:01:15.560> properties 00:01:15.950 --> 00:01:15.960 align:start position:0% assumption but still have the properties 00:01:15.960 --> 00:01:19.429 align:start position:0% assumption but still have the properties of<00:01:16.439> consensus<00:01:17.439> uh<00:01:17.960> like<00:01:18.720> you<00:01:18.799> know<00:01:18.960> non- 00:01:19.429 --> 00:01:19.439 align:start position:0% of consensus uh like you know non- 00:01:19.439 --> 00:01:21.230 align:start position:0% of consensus uh like you know non- repudiation<00:01:20.439> like<00:01:20.560> Source<00:01:20.840> authentification 00:01:21.230 --> 00:01:21.240 align:start position:0% repudiation like Source authentification 00:01:21.240 --> 00:01:25.270 align:start position:0% repudiation like Source authentification of<00:01:21.560> contract<00:01:22.000> calls<00:01:23.240> Etc<00:01:24.240> uh<00:01:25.000> and<00:01:25.079> so 00:01:25.270 --> 00:01:25.280 align:start position:0% of contract calls Etc uh and so 00:01:25.280 --> 00:01:27.069 align:start position:0% of contract calls Etc uh and so scalability<00:01:25.799> Solutions<00:01:26.200> are<00:01:26.439> kind<00:01:26.560> of<00:01:26.840> trying 00:01:27.069 --> 00:01:27.079 align:start position:0% scalability Solutions are kind of trying 00:01:27.079 --> 00:01:29.270 align:start position:0% scalability Solutions are kind of trying to<00:01:28.079> make<00:01:28.240> it<00:01:28.360> so<00:01:28.479> that<00:01:28.600> not<00:01:28.759> every<00:01:28.920> node 00:01:29.270 --> 00:01:29.280 align:start position:0% to make it so that not every node 00:01:29.280 --> 00:01:31.510 align:start position:0% to make it so that not every node process<00:01:29.520> is<00:01:29.680> every<00:01:30.079> transaction<00:01:31.079> but<00:01:31.320> that<00:01:31.400> we 00:01:31.510 --> 00:01:31.520 align:start position:0% process is every transaction but that we 00:01:31.520 --> 00:01:34.749 align:start position:0% process is every transaction but that we still<00:01:31.720> have<00:01:31.960> Security<00:01:32.520> in<00:01:32.799> some 00:01:34.749 --> 00:01:34.759 align:start position:0% still have Security in some 00:01:34.759 --> 00:01:38.870 align:start position:0% still have Security in some way<00:01:35.759> so<00:01:36.560> you<00:01:36.680> know<00:01:37.399> you<00:01:37.479> know<00:01:37.680> right<00:01:38.000> now<00:01:38.399> with 00:01:38.870 --> 00:01:38.880 align:start position:0% way so you know you know right now with 00:01:38.880 --> 00:01:41.590 align:start position:0% way so you know you know right now with uh<00:01:39.759> just<00:01:39.960> for<00:01:40.119> for<00:01:40.399> statistics<00:01:41.119> right<00:01:41.280> now 00:01:41.590 --> 00:01:41.600 align:start position:0% uh just for for statistics right now 00:01:41.600 --> 00:01:43.910 align:start position:0% uh just for for statistics right now Bitcoin<00:01:42.479> we<00:01:42.640> you<00:01:42.720> know<00:01:42.880> one<00:01:43.079> transaction<00:01:43.680> per 00:01:43.910 --> 00:01:43.920 align:start position:0% Bitcoin we you know one transaction per 00:01:43.920 --> 00:01:46.190 align:start position:0% Bitcoin we you know one transaction per second<00:01:44.600> MasterCard<00:01:45.240> processes<00:01:45.640> 2,000 00:01:46.190 --> 00:01:46.200 align:start position:0% second MasterCard processes 2,000 00:01:46.200 --> 00:01:49.109 align:start position:0% second MasterCard processes 2,000 transactions<00:01:46.719> a<00:01:46.920> second<00:01:47.759> if<00:01:48.280> Bitcoin<00:01:48.759> goes<00:01:49.000> up 00:01:49.109 --> 00:01:49.119 align:start position:0% transactions a second if Bitcoin goes up 00:01:49.119 --> 00:01:51.350 align:start position:0% transactions a second if Bitcoin goes up to<00:01:49.360> that<00:01:49.560> level<00:01:50.240> then<00:01:50.399> we'll<00:01:50.640> basically<00:01:51.119> have 00:01:51.350 --> 00:01:51.360 align:start position:0% to that level then we'll basically have 00:01:51.360 --> 00:01:54.630 align:start position:0% to that level then we'll basically have full<00:01:51.640> nodes<00:01:52.439> processing<00:01:53.399> 1<00:01:53.640> Gigabyte<00:01:54.119> every<00:01:54.360> 3 00:01:54.630 --> 00:01:54.640 align:start position:0% full nodes processing 1 Gigabyte every 3 00:01:54.640 --> 00:01:57.550 align:start position:0% full nodes processing 1 Gigabyte every 3 seconds<00:01:55.600> so<00:01:56.200> you<00:01:56.320> know<00:01:56.520> not<00:01:56.719> ex<00:01:57.000> not<00:01:57.159> exactly 00:01:57.550 --> 00:01:57.560 align:start position:0% seconds so you know not ex not exactly 00:01:57.560 --> 00:01:58.830 align:start position:0% seconds so you know not ex not exactly sustainable<00:01:58.000> for<00:01:58.119> any<00:01:58.280> kind<00:01:58.399> of<00:01:58.520> normal 00:01:58.830 --> 00:01:58.840 align:start position:0% sustainable for any kind of normal 00:01:58.840 --> 00:02:01.870 align:start position:0% sustainable for any kind of normal computer<00:01:59.920> so<00:02:00.039> we'll<00:02:00.200> have<00:02:00.320> 10<00:02:00.520> full<00:02:00.880> nodes 00:02:01.870 --> 00:02:01.880 align:start position:0% computer so we'll have 10 full nodes 00:02:01.880 --> 00:02:04.590 align:start position:0% computer so we'll have 10 full nodes yeah<00:02:02.119> 10<00:02:02.360> full<00:02:02.759> 10<00:02:02.960> full<00:02:03.200> nodes<00:02:03.960> uh<00:02:04.200> and 00:02:04.590 --> 00:02:04.600 align:start position:0% yeah 10 full 10 full nodes uh and 00:02:04.600 --> 00:02:05.590 align:start position:0% yeah 10 full 10 full nodes uh and they'll<00:02:04.799> probably<00:02:05.000> won't<00:02:05.159> be<00:02:05.280> run<00:02:05.479> by 00:02:05.590 --> 00:02:05.600 align:start position:0% they'll probably won't be run by 00:02:05.600 --> 00:02:06.789 align:start position:0% they'll probably won't be run by blockchain<00:02:05.960> that<00:02:06.119> info<00:02:06.320> and<00:02:06.439> coinbase 00:02:06.789 --> 00:02:06.799 align:start position:0% blockchain that info and coinbase 00:02:06.799 --> 00:02:08.830 align:start position:0% blockchain that info and coinbase they'll<00:02:06.920> be<00:02:07.039> run<00:02:07.240> by<00:02:07.320> Amazon<00:02:07.600> and<00:02:07.880> Google<00:02:08.599> who 00:02:08.830 --> 00:02:08.840 align:start position:0% they'll be run by Amazon and Google who 00:02:08.840 --> 00:02:10.630 align:start position:0% they'll be run by Amazon and Google who you<00:02:08.959> know<00:02:09.479> people<00:02:09.679> seem<00:02:09.920> to<00:02:10.119> consider<00:02:10.479> as 00:02:10.630 --> 00:02:10.640 align:start position:0% you know people seem to consider as 00:02:10.640 --> 00:02:13.150 align:start position:0% you know people seem to consider as being<00:02:10.879> more<00:02:11.120> evil<00:02:11.480> than<00:02:11.800> than<00:02:12.239> good<00:02:12.400> local 00:02:13.150 --> 00:02:13.160 align:start position:0% being more evil than than good local 00:02:13.160 --> 00:02:16.150 align:start position:0% being more evil than than good local companies<00:02:14.160> so<00:02:15.040> yeah<00:02:15.200> what<00:02:15.360> we<00:02:15.480> want<00:02:15.800> is<00:02:16.000> we 00:02:16.150 --> 00:02:16.160 align:start position:0% companies so yeah what we want is we 00:02:16.160 --> 00:02:18.229 align:start position:0% companies so yeah what we want is we want<00:02:16.360> a<00:02:16.680> we<00:02:16.800> basically<00:02:17.160> want<00:02:17.400> a<00:02:17.599> system<00:02:18.000> that 00:02:18.229 --> 00:02:18.239 align:start position:0% want a we basically want a system that 00:02:18.239 --> 00:02:20.309 align:start position:0% want a we basically want a system that work<00:02:18.640> we<00:02:18.840> we<00:02:19.200> you<00:02:19.280> know<00:02:19.440> as<00:02:19.920> Dominique 00:02:20.309 --> 00:02:20.319 align:start position:0% work we we you know as Dominique 00:02:20.319 --> 00:02:22.110 align:start position:0% work we we you know as Dominique Williams<00:02:20.680> from<00:02:20.879> Pebble<00:02:21.239> put<00:02:21.440> it<00:02:21.599> we<00:02:21.720> want<00:02:21.920> a 00:02:22.110 --> 00:02:22.120 align:start position:0% Williams from Pebble put it we want a 00:02:22.120 --> 00:02:24.110 align:start position:0% Williams from Pebble put it we want a system<00:02:22.480> that<00:02:22.599> works<00:02:22.920> by<00:02:23.080> scaling<00:02:23.519> out<00:02:23.800> and<00:02:23.959> not 00:02:24.110 --> 00:02:24.120 align:start position:0% system that works by scaling out and not 00:02:24.120 --> 00:02:26.350 align:start position:0% system that works by scaling out and not by<00:02:24.280> scaling<00:02:24.680> up<00:02:25.200> so<00:02:25.360> instead<00:02:25.599> of<00:02:25.800> making<00:02:26.120> these 00:02:26.350 --> 00:02:26.360 align:start position:0% by scaling up so instead of making these 00:02:26.360 --> 00:02:27.869 align:start position:0% by scaling up so instead of making these big<00:02:26.800> instead<00:02:27.040> of<00:02:27.200> making<00:02:27.400> the<00:02:27.560> system 00:02:27.869 --> 00:02:27.879 align:start position:0% big instead of making the system 00:02:27.879 --> 00:02:30.229 align:start position:0% big instead of making the system continue<00:02:28.239> working<00:02:28.560> by<00:02:28.760> having<00:02:29.319> full<00:02:29.599> noes<00:02:30.080> be 00:02:30.229 --> 00:02:30.239 align:start position:0% continue working by having full noes be 00:02:30.239 --> 00:02:32.509 align:start position:0% continue working by having full noes be more<00:02:30.400> and<00:02:30.560> more<00:02:30.800> powerful<00:02:31.560> you<00:02:31.959> figure<00:02:32.239> out 00:02:32.509 --> 00:02:32.519 align:start position:0% more and more powerful you figure out 00:02:32.519 --> 00:02:34.949 align:start position:0% more and more powerful you figure out some<00:02:32.800> way<00:02:32.959> for<00:02:33.080> it<00:02:33.200> to<00:02:33.480> work<00:02:34.120> even<00:02:34.480> if<00:02:34.720> no 00:02:34.949 --> 00:02:34.959 align:start position:0% some way for it to work even if no 00:02:34.959 --> 00:02:36.949 align:start position:0% some way for it to work even if no single<00:02:35.319> node<00:02:35.680> processes<00:02:36.120> more<00:02:36.280> than<00:02:36.440> a<00:02:36.560> small 00:02:36.949 --> 00:02:36.959 align:start position:0% single node processes more than a small 00:02:36.959 --> 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in<00:02:42.280> one<00:02:42.480> chain<00:02:43.040> we<00:02:43.319> we<00:02:43.440> hope<00:02:43.640> to 00:02:43.750 --> 00:02:43.760 align:start position:0% themselves in one chain we we hope to 00:02:43.760 --> 00:02:45.190 align:start position:0% themselves in one chain we we hope to maybe<00:02:44.000> have<00:02:44.200> like<00:02:44.319> another<00:02:44.599> architecture<00:02:45.040> or 00:02:45.190 --> 00:02:45.200 align:start position:0% maybe have like another architecture or 00:02:45.200 --> 00:02:47.710 align:start position:0% maybe have like another architecture or not<00:02:45.440> all<00:02:45.640> blocks<00:02:46.000> go<00:02:46.159> in<00:02:46.280> the<00:02:46.360> same 00:02:47.710 --> 00:02:47.720 align:start position:0% not all blocks go in the same 00:02:47.720 --> 00:02:50.830 align:start position:0% not all blocks go in the same chain<00:02:48.760> so<00:02:49.760> so<00:02:50.000> right<00:02:50.200> now<00:02:50.400> what<00:02:50.480> we<00:02:50.599> have<00:02:50.760> as 00:02:50.830 --> 00:02:50.840 align:start position:0% chain so so right now what we have as 00:02:50.840 --> 00:02:52.630 align:start position:0% chain so so right now what we have as far<00:02:50.959> as<00:02:51.080> scalability<00:02:51.640> goes<00:02:51.879> is<00:02:52.040> the<00:02:52.159> scale<00:02:52.440> up 00:02:52.630 --> 00:02:52.640 align:start position:0% far as scalability goes is the scale up 00:02:52.640 --> 00:02:54.390 align:start position:0% far as scalability goes is the scale up approach<00:02:53.000> which<00:02:53.120> is<00:02:53.319> you<00:02:53.440> know<00:02:53.519> we<00:02:53.640> have<00:02:53.879> like 00:02:54.390 --> 00:02:54.400 align:start position:0% approach which is you know we have like 00:02:54.400 --> 00:02:56.070 align:start position:0% approach which is you know we have like we<00:02:54.879> say<00:02:55.159> okay<00:02:55.319> the<00:02:55.440> blockchain<00:02:55.840> is<00:02:55.920> going<00:02:56.000> to 00:02:56.070 --> 00:02:56.080 align:start position:0% we say okay the blockchain is going to 00:02:56.080 --> 00:02:57.350 align:start position:0% we say okay the blockchain is going to grow<00:02:56.239> a<00:02:56.400> really<00:02:56.640> big<00:02:56.920> but<00:02:57.040> we're<00:02:57.159> going<00:02:57.239> to 00:02:57.350 --> 00:02:57.360 align:start position:0% grow a really big but we're going to 00:02:57.360 --> 00:02:58.830 align:start position:0% grow a really big but we're going to make<00:02:57.480> sure<00:02:57.640> that<00:02:57.760> like<00:02:58.000> lines<00:02:58.319> can<00:02:58.480> still<00:02:58.640> be 00:02:58.830 --> 00:02:58.840 align:start position:0% make sure that like lines can still be 00:02:58.840 --> 00:03:01.910 align:start position:0% make sure that like lines can still be secure<00:02:59.480> and<00:02:59.640> that<00:03:00.000> kind<00:03:00.120> of<00:03:00.319> works<00:03:01.319> until<00:03:01.760> of 00:03:01.910 --> 00:03:01.920 align:start position:0% secure and that kind of works until of 00:03:01.920 --> 00:03:04.470 align:start position:0% secure and that kind of works until of course<00:03:02.120> it<00:03:02.280> gets<00:03:02.560> way<00:03:03.319> until<00:03:03.599> of<00:03:03.720> course<00:03:04.360> the 00:03:04.470 --> 00:03:04.480 align:start position:0% course it gets way until of course the 00:03:04.480 --> 00:03:07.190 align:start position:0% course it gets way until of course the whole<00:03:04.640> thing<00:03:04.840> just<00:03:05.000> gets<00:03:05.239> way<00:03:05.400> too<00:03:05.680> big<00:03:06.640> and 00:03:07.190 --> 00:03:07.200 align:start position:0% whole thing just gets way too big and 00:03:07.200 --> 00:03:08.949 align:start position:0% whole thing just gets way too big and and<00:03:07.319> it<00:03:07.480> might<00:03:07.640> not<00:03:08.000> and<00:03:08.440> there<00:03:08.599> might<00:03:08.760> not 00:03:08.949 --> 00:03:08.959 align:start position:0% and it might not and there might not 00:03:08.959 --> 00:03:10.509 align:start position:0% and it might not and there might not even 00:03:10.509 --> 00:03:10.519 align:start position:0% even 00:03:10.519 --> 00:03:13.229 align:start position:0% even be<00:03:11.519> like<00:03:11.720> it<00:03:11.879> it<00:03:12.000> might<00:03:12.200> not<00:03:12.400> even<00:03:12.599> be<00:03:12.920> possible 00:03:13.229 --> 00:03:13.239 align:start position:0% be like it it might not even be possible 00:03:13.239 --> 00:03:15.509 align:start position:0% be like it it might not even be possible for<00:03:13.400> a<00:03:13.560> single<00:03:13.879> node<00:03:14.159> to<00:03:14.360> process<00:03:14.840> all<00:03:15.200> crypto 00:03:15.509 --> 00:03:15.519 align:start position:0% for a single node to process all crypto 00:03:15.519 --> 00:03:16.910 align:start position:0% for a single node to process all crypto transactions<00:03:16.080> that<00:03:16.239> people<00:03:16.480> potentially 00:03:16.910 --> 00:03:16.920 align:start position:0% transactions that people potentially 00:03:16.920 --> 00:03:18.990 align:start position:0% transactions that people potentially might<00:03:17.080> want<00:03:17.200> to<00:03:17.360> do<00:03:17.680> especially<00:03:18.040> if<00:03:18.200> we<00:03:18.680> start 00:03:18.990 --> 00:03:19.000 align:start position:0% might want to do especially if we start 00:03:19.000 --> 00:03:20.430 align:start position:0% might want to do especially if we start thinking<00:03:19.280> about<00:03:19.519> crypto<00:03:19.879> not<00:03:20.040> just<00:03:20.200> as<00:03:20.319> a 00:03:20.430 --> 00:03:20.440 align:start position:0% thinking about crypto not just as a 00:03:20.440 --> 00:03:21.910 align:start position:0% thinking about crypto not just as a payment<00:03:20.760> system<00:03:21.040> but<00:03:21.200> also<00:03:21.360> for<00:03:21.640> a<00:03:21.799> whole 00:03:21.910 --> 00:03:21.920 align:start position:0% payment system but also for a whole 00:03:21.920 --> 00:03:24.190 align:start position:0% payment system but also for a whole bunch<00:03:22.080> of<00:03:22.239> these<00:03:22.440> DBS<00:03:23.159> and<00:03:23.280> also<00:03:23.480> for<00:03:23.799> like<00:03:24.080> you 00:03:24.190 --> 00:03:24.200 align:start position:0% bunch of these DBS and also for like you 00:03:24.200 --> 00:03:26.110 align:start position:0% bunch of these DBS and also for like you know<00:03:24.480> not<00:03:24.640> just<00:03:24.879> people<00:03:25.239> but<00:03:25.400> also<00:03:25.599> for 00:03:26.110 --> 00:03:26.120 align:start position:0% know not just people but also for 00:03:26.120 --> 00:03:27.789 align:start position:0% know not just people but also for programs<00:03:26.599> and 00:03:27.789 --> 00:03:27.799 align:start position:0% programs and 00:03:27.799 --> 00:03:29.910 align:start position:0% programs and Hardware<00:03:28.799> um<00:03:28.920> so<00:03:29.040> there's<00:03:29.200> basically<00:03:29.480> three 00:03:29.910 --> 00:03:29.920 align:start position:0% Hardware um so there's basically three 00:03:29.920 --> 00:03:32.390 align:start position:0% Hardware um so there's basically three broad<00:03:30.200> classes<00:03:30.599> of<00:03:30.799> scalability<00:03:31.560> approaches 00:03:32.390 --> 00:03:32.400 align:start position:0% broad classes of scalability approaches 00:03:32.400 --> 00:03:36.949 align:start position:0% broad classes of scalability approaches there's<00:03:33.159> building<00:03:33.560> on<00:03:34.080> top<00:03:35.159> uh<00:03:36.159> kind<00:03:36.280> of 00:03:36.949 --> 00:03:36.959 align:start position:0% there's building on top uh kind of 00:03:36.959 --> 00:03:38.470 align:start position:0% there's building on top uh kind of scaling<00:03:37.400> one 00:03:38.470 --> 00:03:38.480 align:start position:0% scaling one 00:03:38.480 --> 00:03:41.750 align:start position:0% scaling one chain<00:03:39.480> uh<00:03:39.640> by<00:03:39.760> sharting<00:03:40.200> the<00:03:40.480> state<00:03:40.799> space<00:03:41.319> and 00:03:41.750 --> 00:03:41.760 align:start position:0% chain uh by sharting the state space and 00:03:41.760 --> 00:03:43.309 align:start position:0% chain uh by sharting the state space and having<00:03:42.120> multiple<00:03:42.599> cons<00:03:42.959> multiple 00:03:43.309 --> 00:03:43.319 align:start position:0% having multiple cons multiple 00:03:43.319 --> 00:03:45.390 align:start position:0% having multiple cons multiple blockchains<00:03:43.959> and<00:03:44.400> interfacing<00:03:44.920> them<00:03:45.040> to<00:03:45.200> gain 00:03:45.390 --> 00:03:45.400 align:start position:0% blockchains and interfacing them to gain 00:03:45.400 --> 00:03:48.070 align:start position:0% blockchains and interfacing them to gain some<00:03:45.519> of<00:03:45.640> the<00:03:46.159> properties<00:03:46.519> of<00:03:46.680> one<00:03:47.080> blockchain 00:03:48.070 --> 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state of the of research on those topics 00:03:53.480 --> 00:03:56.550 align:start position:0% state of the of research on those topics and<00:03:54.200> what<00:03:54.439> the<00:03:54.879> tradeoffs<00:03:55.519> are<00:03:55.840> and<00:03:56.319> maybe 00:03:56.550 --> 00:03:56.560 align:start position:0% and what the tradeoffs are and maybe 00:03:56.560 --> 00:03:58.149 align:start position:0% and what the tradeoffs are and maybe what<00:03:56.680> the<00:03:56.799> disadvantages<00:03:57.400> and<00:03:57.599> advantages<00:03:58.040> of 00:03:58.149 --> 00:03:58.159 align:start position:0% what the disadvantages and advantages of 00:03:58.159 --> 00:04:01.470 align:start position:0% what the disadvantages and advantages of each<00:03:58.360> approaches<00:03:59.360> so<00:03:59.799> start<00:04:00.040> scaling<00:04:00.400> on<00:04:00.640> top 00:04:01.470 --> 00:04:01.480 align:start position:0% each approaches so start scaling on top 00:04:01.480 --> 00:04:03.309 align:start position:0% each approaches so start scaling on top to<00:04:01.680> you<00:04:01.760> want<00:04:01.920> take<00:04:02.040> it<00:04:02.200> away<00:04:02.519> so<00:04:02.720> build<00:04:03.159> the 00:04:03.309 --> 00:04:03.319 align:start position:0% to you want take it away so build the 00:04:03.319 --> 00:04:05.229 align:start position:0% to you want take it away so build the idea<00:04:03.720> with<00:04:03.920> building<00:04:04.239> on<00:04:04.480> top<00:04:04.720> is<00:04:04.879> basically 00:04:05.229 --> 00:04:05.239 align:start position:0% idea with building on top is basically 00:04:05.239 --> 00:04:07.069 align:start position:0% idea with building on top is basically you<00:04:05.319> know<00:04:05.519> keep<00:04:05.720> the<00:04:05.879> blockchain<00:04:06.439> exactly<00:04:06.920> as 00:04:07.069 --> 00:04:07.079 align:start position:0% you know keep the blockchain exactly as 00:04:07.079 --> 00:04:10.069 align:start position:0% you know keep the blockchain exactly as it<00:04:07.239> is<00:04:08.079> but<00:04:08.599> we<00:04:08.879> try<00:04:09.120> and<00:04:09.280> figure<00:04:09.560> out<00:04:09.760> some 00:04:10.069 --> 00:04:10.079 align:start position:0% it is but we try and figure out some 00:04:10.079 --> 00:04:11.990 align:start position:0% it is but we try and figure out some ways<00:04:10.319> for<00:04:10.560> as<00:04:10.680> much<00:04:10.959> stuff<00:04:11.200> as<00:04:11.439> possible<00:04:11.799> to 00:04:11.990 --> 00:04:12.000 align:start position:0% ways for as much stuff as possible to 00:04:12.000 --> 00:04:13.630 align:start position:0% ways for as much stuff as possible to happen<00:04:12.319> off<00:04:12.519> the<00:04:12.640> chain<00:04:13.000> but<00:04:13.159> still<00:04:13.400> be 00:04:13.630 --> 00:04:13.640 align:start position:0% happen off the chain but still be 00:04:13.640 --> 00:04:15.470 align:start position:0% happen off the chain but still be secured<00:04:14.120> by<00:04:14.280> the<00:04:14.400> chain<00:04:14.680> in<00:04:14.799> the<00:04:14.920> long<00:04:15.120> term<00:04:15.360> in 00:04:15.470 --> 00:04:15.480 align:start position:0% secured by the chain in the long term in 00:04:15.480 --> 00:04:16.310 align:start position:0% secured by the chain in the long term in some 00:04:16.310 --> 00:04:16.320 align:start position:0% some 00:04:16.320 --> 00:04:19.710 align:start position:0% some fashion<00:04:17.320> so<00:04:18.280> this<00:04:18.400> is<00:04:18.680> one<00:04:18.919> the<00:04:19.199> the<00:04:19.320> one<00:04:19.519> sort 00:04:19.710 --> 00:04:19.720 align:start position:0% fashion so this is one the the one sort 00:04:19.720 --> 00:04:22.790 align:start position:0% fashion so this is one the the one sort of<00:04:20.440> the<00:04:20.560> first<00:04:20.880> practical<00:04:21.400> example<00:04:21.959> is<00:04:22.320> uh 00:04:22.790 --> 00:04:22.800 align:start position:0% of the first practical example is uh 00:04:22.800 --> 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ethereum for you can do it on Blown Bitcoin<00:04:29.000> and<00:04:29.320> uh<00:04:29.960> the<00:04:30.080> way<00:04:30.280> that<00:04:30.440> works<00:04:30.840> is<00:04:31.080> you 00:04:31.590 --> 00:04:31.600 align:start position:0% Bitcoin and uh the way that works is you 00:04:31.600 --> 00:04:33.189 align:start position:0% Bitcoin and uh the way that works is you there's<00:04:31.800> a<00:04:31.960> sort<00:04:32.120> of<00:04:32.320> special<00:04:32.600> two-party 00:04:33.189 --> 00:04:33.199 align:start position:0% there's a sort of special two-party 00:04:33.199 --> 00:04:35.230 align:start position:0% there's a sort of special two-party protocol<00:04:33.680> that<00:04:33.759> you<00:04:33.840> can<00:04:34.120> do<00:04:34.400> use<00:04:34.680> to<00:04:34.880> create<00:04:35.120> a 00:04:35.230 --> 00:04:35.240 align:start position:0% protocol that you can do use to create a 00:04:35.240 --> 00:04:36.710 align:start position:0% protocol that you can do use to create a sort<00:04:35.440> of<00:04:35.720> it's<00:04:35.880> called<00:04:36.039> a<00:04:36.120> micro<00:04:36.400> payment 00:04:36.710 --> 00:04:36.720 align:start position:0% sort of it's called a micro payment 00:04:36.720 --> 00:04:39.310 align:start position:0% sort of it's called a micro payment Channel<00:04:37.080> going<00:04:37.280> from<00:04:37.440> a<00:04:37.600> Tob<00:04:38.560> and<00:04:38.680> the<00:04:38.840> idea<00:04:39.160> is 00:04:39.310 --> 00:04:39.320 align:start position:0% Channel going from a Tob and the idea is 00:04:39.320 --> 00:04:40.950 align:start position:0% Channel going from a Tob and the idea is there's<00:04:39.560> sort<00:04:39.720> of<00:04:39.840> two<00:04:40.199> there's<00:04:40.320> a<00:04:40.440> two-party 00:04:40.950 --> 00:04:40.960 align:start position:0% there's sort of two there's a two-party 00:04:40.960 --> 00:04:42.909 align:start position:0% there's sort of two there's a two-party protocol<00:04:41.320> for<00:04:41.479> updating<00:04:41.880> the<00:04:42.000> channel<00:04:42.600> so<00:04:42.800> the 00:04:42.909 --> 00:04:42.919 align:start position:0% protocol for updating the channel so the 00:04:42.919 --> 00:04:44.670 align:start position:0% protocol for updating the channel so the channel<00:04:43.199> starts<00:04:43.520> off<00:04:43.800> containing<00:04:44.440> some 00:04:44.670 --> 00:04:44.680 align:start position:0% channel starts off containing some 00:04:44.680 --> 00:04:46.830 align:start position:0% channel starts off containing some quantity<00:04:45.080> of<00:04:45.320> some<00:04:45.520> quantity<00:04:45.960> of<00:04:46.120> Bitcoin 00:04:46.830 --> 00:04:46.840 align:start position:0% quantity of some quantity of Bitcoin 00:04:46.840 --> 00:04:49.390 align:start position:0% quantity of some quantity of Bitcoin let's<00:04:47.280> let's<00:04:47.440> say<00:04:47.639> 1<00:04:47.840> BTC<00:04:48.720> and<00:04:48.840> it<00:04:49.039> and<00:04:49.199> a 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channel starts off giving the 00:04:54.360 --> 00:04:56.150 align:start position:0% channel channel starts off giving the entire<00:04:54.600> Bitcoin<00:04:54.960> back<00:04:55.080> to<00:04:55.240> AEG<00:04:55.960> and<00:04:56.039> then 00:04:56.150 --> 00:04:56.160 align:start position:0% entire Bitcoin back to AEG and then 00:04:56.160 --> 00:04:57.950 align:start position:0% entire Bitcoin back to AEG and then there's<00:04:56.280> a<00:04:56.400> sort<00:04:56.560> of<00:04:56.800> off<00:04:57.120> offchain<00:04:57.600> update 00:04:57.950 --> 00:04:57.960 align:start position:0% there's a sort of off offchain update 00:04:57.960 --> 00:04:59.749 align:start position:0% there's a sort of off offchain update protocol<00:04:58.320> where<00:04:58.440> the<00:04:58.560> channel<00:04:58.880> updates<00:04:59.280> the 00:04:59.749 --> 00:04:59.759 align:start position:0% protocol where the channel updates the 00:04:59.759 --> 00:05:03.150 align:start position:0% protocol where the channel updates the say<00:04:59.880> 99<00:05:00.440> to<00:05:00.520> 8.01<00:05:01.280> to<00:05:01.400> be<00:05:01.560> 98<00:05:02.080> to<00:05:02.199> 8.02<00:05:02.840> to<00:05:03.000> be 00:05:03.150 --> 00:05:03.160 align:start position:0% say 99 to 8.01 to be 98 to 8.02 to be 00:05:03.160 --> 00:05:06.270 align:start position:0% say 99 to 8.01 to be 98 to 8.02 to be and<00:05:03.280> so<00:05:03.600> forth<00:05:04.600> and<00:05:05.160> the<00:05:05.280> idea<00:05:05.639> is<00:05:05.759> you<00:05:05.960> have<00:05:06.160> a 00:05:06.270 --> 00:05:06.280 align:start position:0% and so forth and the idea is you have a 00:05:06.280 --> 00:05:08.070 align:start position:0% and so forth and the idea is you have a network<00:05:06.680> with<00:05:06.800> a<00:05:06.960> bunch<00:05:07.120> of<00:05:07.280> these<00:05:07.440> channels 00:05:08.070 --> 00:05:08.080 align:start position:0% network with a bunch of these channels 00:05:08.080 --> 00:05:09.310 align:start position:0% network with a bunch of these channels and<00:05:08.199> if<00:05:08.280> you<00:05:08.360> want<00:05:08.479> to<00:05:08.600> make<00:05:08.759> a<00:05:08.880> payment<00:05:09.199> you 00:05:09.310 --> 00:05:09.320 align:start position:0% and if you want to make a payment you 00:05:09.320 --> 00:05:10.749 align:start position:0% and if you want to make a payment you just<00:05:09.440> sort<00:05:09.600> of<00:05:09.680> find<00:05:09.960> a<00:05:10.160> path<00:05:10.360> going<00:05:10.560> through 00:05:10.749 --> 00:05:10.759 align:start position:0% just sort of find a path going through 00:05:10.759 --> 00:05:12.629 align:start position:0% just sort of find a path going through all<00:05:10.880> the<00:05:11.000> channels<00:05:11.720> update<00:05:12.039> all<00:05:12.160> the<00:05:12.280> channels 00:05:12.629 --> 00:05:12.639 align:start position:0% all the channels update all the channels 00:05:12.639 --> 00:05:14.830 align:start position:0% all the channels update all the channels along<00:05:12.919> the<00:05:13.080> way<00:05:13.759> and<00:05:13.919> you<00:05:14.039> use<00:05:14.240> the<00:05:14.400> blockchain 00:05:14.830 --> 00:05:14.840 align:start position:0% along the way and you use the blockchain 00:05:14.840 --> 00:05:16.590 align:start position:0% along the way and you use the blockchain only<00:05:15.120> for<00:05:15.360> like<00:05:15.560> eventual<00:05:16.000> settlement<00:05:16.400> when<00:05:16.479> a 00:05:16.590 --> 00:05:16.600 align:start position:0% only for like eventual settlement when a 00:05:16.600 --> 00:05:19.350 align:start position:0% only for like eventual settlement when a channel<00:05:16.840> fills 00:05:19.350 --> 00:05:19.360 align:start position:0% 00:05:19.360 --> 00:05:22.150 align:start position:0% up<00:05:20.360> probabilistic<00:05:21.080> payments<00:05:21.759> yeah<00:05:21.919> so 00:05:22.150 --> 00:05:22.160 align:start position:0% up probabilistic payments yeah so 00:05:22.160 --> 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on<00:05:29.280> the<00:05:29.360> Block<00:05:29.800> chain<00:05:29.960> for<00:05:30.160> every 00:05:30.390 --> 00:05:30.400 align:start position:0% payment on the Block chain for every 00:05:30.400 --> 00:05:33.029 align:start position:0% payment on the Block chain for every file<00:05:30.720> transfer<00:05:31.440> that<00:05:31.600> you<00:05:31.800> do<00:05:32.720> like<00:05:32.880> every 00:05:33.029 --> 00:05:33.039 align:start position:0% file transfer that you do like every 00:05:33.039 --> 00:05:35.629 align:start position:0% file transfer that you do like every upload<00:05:33.360> or<00:05:33.479> every<00:05:33.680> download<00:05:34.440> what<00:05:34.560> you<00:05:34.800> do<00:05:35.000> is 00:05:35.629 --> 00:05:35.639 align:start position:0% upload or every download what you do is 00:05:35.639 --> 00:05:38.230 align:start position:0% upload or every download what you do is make<00:05:36.000> a<00:05:36.199> payment<00:05:36.720> with<00:05:37.360> provably<00:05:37.840> with<00:05:37.960> some 00:05:38.230 --> 00:05:38.240 align:start position:0% make a payment with provably with some 00:05:38.240 --> 00:05:40.870 align:start position:0% make a payment with provably with some probability<00:05:39.240> so<00:05:39.479> that<00:05:40.039> uh<00:05:40.319> the<00:05:40.440> people<00:05:40.639> still 00:05:40.870 --> 00:05:40.880 align:start position:0% probability so that uh the people still 00:05:40.880 --> 00:05:42.550 align:start position:0% probability so that uh the people still have<00:05:41.000> the<00:05:41.120> same<00:05:41.319> expected<00:05:41.880> re<00:05:42.120> return<00:05:42.319> from 00:05:42.550 --> 00:05:42.560 align:start position:0% have the same expected re return from 00:05:42.560 --> 00:05:44.110 align:start position:0% have the same expected re return from sharing<00:05:42.880> those<00:05:43.039> files<00:05:43.520> but<00:05:43.639> you<00:05:43.720> don't<00:05:43.880> put<00:05:44.000> as 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but over time 00:05:48.759 --> 00:05:50.029 align:start position:0% volatility of the return but over time it<00:05:48.840> should<00:05:49.080> kind<00:05:49.199> of<00:05:49.280> be<00:05:49.440> the<00:05:49.560> same<00:05:49.919> and 00:05:50.029 --> 00:05:50.039 align:start position:0% it should kind of be the same and 00:05:50.039 --> 00:05:51.950 align:start position:0% it should kind of be the same and there's<00:05:50.199> much<00:05:50.360> less<00:05:50.560> stuff<00:05:50.680> in<00:05:50.800> the 00:05:51.950 --> 00:05:51.960 align:start position:0% there's much less stuff in the 00:05:51.960 --> 00:05:54.550 align:start position:0% there's much less stuff in the blockchain<00:05:52.960> and<00:05:53.240> just<00:05:53.400> as<00:05:53.520> a<00:05:53.840> so<00:05:54.080> that's<00:05:54.360> so 00:05:54.550 --> 00:05:54.560 align:start position:0% blockchain and just as a so that's so 00:05:54.560 --> 00:05:56.830 align:start position:0% blockchain and just as a so that's so those<00:05:54.720> two<00:05:54.880> approaches<00:05:55.280> work<00:05:55.479> for<00:05:55.840> payments 00:05:56.830 --> 00:05:56.840 align:start position:0% those two approaches work for payments 00:05:56.840 --> 00:05:59.909 align:start position:0% those two approaches work for payments um<00:05:57.080> a<00:05:57.319> third<00:05:57.919> there's<00:05:58.160> also<00:05:58.759> a<00:05:58.960> third<00:05:59.240> category 00:05:59.909 --> 00:05:59.919 align:start position:0% um a third there's also a third category 00:05:59.919 --> 00:06:02.870 align:start position:0% um a third there's also a third category which<00:06:00.039> is<00:06:00.199> this<00:06:00.400> idea<00:06:00.639> of<00:06:01.319> offchain<00:06:02.319> auditable 00:06:02.870 --> 00:06:02.880 align:start position:0% which is this idea of offchain auditable 00:06:02.880 --> 00:06:05.430 align:start position:0% which is this idea of offchain auditable challenge<00:06:03.319> response<00:06:04.039> computation<00:06:05.039> so<00:06:05.280> just 00:06:05.430 --> 00:06:05.440 align:start position:0% challenge response computation so just 00:06:05.440 --> 00:06:08.110 align:start position:0% challenge response computation so just as<00:06:05.560> an<00:06:05.759> example<00:06:06.160> of<00:06:06.400> that<00:06:06.840> there's<00:06:07.400> in<00:06:07.720> in<00:06:07.840> some 00:06:08.110 --> 00:06:08.120 align:start position:0% as an example of that there's in in some 00:06:08.120 --> 00:06:09.589 align:start position:0% as an example of that there's in in some cases<00:06:08.479> there's<00:06:08.720> going<00:06:08.840> to<00:06:08.960> be<00:06:09.120> a<00:06:09.240> lot<00:06:09.360> of 00:06:09.589 --> 00:06:09.599 align:start position:0% cases there's going to be a lot of 00:06:09.599 --> 00:06:11.350 align:start position:0% cases there's going to be a lot of computations<00:06:10.400> that<00:06:10.520> need<00:06:10.720> to<00:06:11.000> have<00:06:11.199> the 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necessarily too<00:06:25.240> large<00:06:25.520> but<00:06:25.639> the<00:06:25.759> computations<00:06:26.280> are<00:06:26.479> very 00:06:26.749 --> 00:06:26.759 align:start position:0% too large but the computations are very 00:06:26.759 --> 00:06:28.870 align:start position:0% too large but the computations are very large<00:06:27.479> so<00:06:27.680> zero<00:06:28.000> knowledge<00:06:28.280> proofs<00:06:28.639> one 00:06:28.870 --> 00:06:28.880 align:start position:0% large so zero knowledge proofs one 00:06:28.880 --> 00:06:30.749 align:start position:0% large so zero knowledge proofs one example<00:06:29.599> so<00:06:29.800> something<00:06:30.000> like<00:06:30.160> you<00:06:30.240> know 00:06:30.749 --> 00:06:30.759 align:start position:0% example so something like you know 00:06:30.759 --> 00:06:33.110 align:start position:0% example so something like you know verifying<00:06:31.479> verifying<00:06:31.960> skip<00:06:32.599> takes<00:06:32.880> 6 00:06:33.110 --> 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like<00:06:47.280> this<00:06:48.280> decentralized<00:06:49.039> Oracle<00:06:49.479> that<00:06:49.639> like 00:06:49.749 --> 00:06:49.759 align:start position:0% like this decentralized Oracle that like 00:06:49.759 --> 00:06:51.270 align:start position:0% like this decentralized Oracle that like does<00:06:49.960> sort<00:06:50.080> of<00:06:50.199> shelling<00:06:50.560> coin<00:06:50.800> like<00:06:51.039> stuff 00:06:51.270 --> 00:06:51.280 align:start position:0% does sort of shelling coin like stuff 00:06:51.280 --> 00:06:53.909 align:start position:0% does sort of shelling coin like stuff but<00:06:51.440> for<00:06:51.599> many<00:06:51.840> bets<00:06:52.080> at<00:06:52.560> many<00:06:53.240> decisions<00:06:53.759> at 00:06:53.909 --> 00:06:53.919 align:start position:0% but for many bets at many decisions at 00:06:53.919 --> 00:06:57.350 align:start position:0% but for many bets at many decisions at the<00:06:54.039> same<00:06:54.319> time<00:06:55.000> and<00:06:55.280> the<00:06:55.400> way<00:06:55.520> it<00:06:55.680> works<00:06:56.360> is 00:06:57.350 --> 00:06:57.360 align:start position:0% the same time and the way it works is 00:06:57.360 --> 00:06:59.909 align:start position:0% the same time and the way it works is you<00:06:57.599> actually<00:06:57.960> is<00:06:58.199> that<00:06:58.560> it<00:06:58.720> uses<00:06:59.080> these<00:06:59.280> Ma 00:06:59.909 --> 00:06:59.919 align:start position:0% you actually is that it uses these Ma 00:06:59.919 --> 00:07:01.749 align:start position:0% you actually is that it uses these Ma algorithms<00:07:00.479> to<00:07:00.639> try<00:07:00.800> and<00:07:00.960> figure<00:07:01.199> out<00:07:01.479> who 00:07:01.749 --> 00:07:01.759 align:start position:0% algorithms to try and figure out who 00:07:01.759 --> 00:07:03.629 align:start position:0% algorithms to try and figure out who sort<00:07:01.919> of<00:07:02.440> which<00:07:02.639> voters<00:07:02.919> are<00:07:03.120> more<00:07:03.319> sort<00:07:03.479> of 00:07:03.629 --> 00:07:03.639 align:start position:0% sort of which voters are more sort of 00:07:03.639 --> 00:07:05.150 align:start position:0% sort of which voters are more sort of globally<00:07:04.120> compliant<00:07:04.560> with<00:07:04.680> the<00:07:04.800> entire 00:07:05.150 --> 00:07:05.160 align:start position:0% globally compliant with the entire 00:07:05.160 --> 00:07:07.070 align:start position:0% globally compliant with the entire consensus<00:07:05.639> so<00:07:05.879> they<00:07:05.960> can<00:07:06.120> reward<00:07:06.400> them<00:07:06.599> more 00:07:07.070 --> 00:07:07.080 align:start position:0% consensus so they can reward them more 00:07:07.080 --> 00:07:09.189 align:start position:0% consensus so they can reward them more in<00:07:07.160> order<00:07:07.440> to<00:07:07.759> and<00:07:07.960> doing<00:07:08.319> that<00:07:08.479> Matrix<00:07:08.879> math 00:07:09.189 --> 00:07:09.199 align:start position:0% in order to and doing that Matrix math 00:07:09.199 --> 00:07:11.309 align:start position:0% in order to and doing that Matrix math as<00:07:09.280> you<00:07:09.400> know<00:07:09.639> takes<00:07:10.160> uh<00:07:10.440> o<00:07:10.599> of<00:07:10.759> En<00:07:10.960> cubed 00:07:11.309 --> 00:07:11.319 align:start position:0% as you know takes uh o of En cubed 00:07:11.319 --> 00:07:13.629 align:start position:0% as you know takes uh o of En cubed operations<00:07:12.280> which<00:07:12.680> you<00:07:12.759> know<00:07:12.879> for<00:07:13.039> fair<00:07:13.400> large 00:07:13.629 --> 00:07:13.639 align:start position:0% operations which you know for fair large 00:07:13.639 --> 00:07:15.749 align:start position:0% operations which you know for fair large matrices<00:07:14.080> is<00:07:14.199> pretty<00:07:14.440> expensive<00:07:15.319> Yeah<00:07:15.599> so 00:07:15.749 --> 00:07:15.759 align:start position:0% matrices is pretty expensive Yeah so 00:07:15.759 --> 00:07:17.710 align:start position:0% matrices is pretty expensive Yeah so basically<00:07:16.080> the<00:07:16.199> idea<00:07:16.520> there<00:07:16.639> is<00:07:16.759> that<00:07:17.520> the 00:07:17.710 --> 00:07:17.720 align:start position:0% basically the idea there is that the 00:07:17.720 --> 00:07:19.510 align:start position:0% basically the idea there is that the blockchain<00:07:18.080> ACT<00:07:18.319> has<00:07:18.440> a<00:07:19.120> something<00:07:19.360> for 00:07:19.510 --> 00:07:19.520 align:start position:0% blockchain ACT has a something for 00:07:19.520 --> 00:07:22.189 align:start position:0% blockchain ACT has a something for punishing<00:07:20.039> these<00:07:20.160> oracles<00:07:20.840> if<00:07:21.080> they<00:07:21.720> uh<00:07:21.960> don't 00:07:22.189 --> 00:07:22.199 align:start position:0% punishing these oracles if they uh don't 00:07:22.199 --> 00:07:23.710 align:start position:0% punishing these oracles if they uh don't come<00:07:22.319> up<00:07:22.440> with<00:07:22.520> the<00:07:22.680> right<00:07:23.000> result<00:07:23.400> then<00:07:23.599> you 00:07:23.710 --> 00:07:23.720 align:start position:0% come up with the right result then you 00:07:23.720 --> 00:07:25.390 align:start position:0% come up with the right result then you can<00:07:23.919> basically<00:07:24.280> check<00:07:24.479> it<00:07:24.599> on<00:07:24.840> blockchain<00:07:25.240> and 00:07:25.390 --> 00:07:25.400 align:start position:0% can basically check it on blockchain and 00:07:25.400 --> 00:07:27.390 align:start position:0% can basically check it on blockchain and like<00:07:25.520> remove<00:07:25.759> a<00:07:25.840> security<00:07:26.120> deposit<00:07:26.479> from<00:07:26.639> them 00:07:27.390 --> 00:07:27.400 align:start position:0% like remove a security deposit from them 00:07:27.400 --> 00:07:28.869 align:start position:0% like remove a security deposit from them uh<00:07:27.759> and<00:07:27.879> if<00:07:28.000> they<00:07:28.120> do<00:07:28.319> then<00:07:28.440> you<00:07:28.520> don't<00:07:28.639> need<00:07:28.759> to 00:07:28.869 --> 00:07:28.879 align:start position:0% uh and if they do then you don't need to 00:07:28.879 --> 00:07:30.270 align:start position:0% uh and if they do then you don't need to do<00:07:29.039> anything<00:07:29.360> and<00:07:29.520> and<00:07:29.680> the<00:07:29.840> computation 00:07:30.270 --> 00:07:30.280 align:start position:0% do anything and and the computation 00:07:30.280 --> 00:07:32.430 align:start position:0% do anything and and the computation happened<00:07:30.560> off<00:07:30.759> chain<00:07:31.319> so<00:07:31.520> basically<00:07:31.960> on<00:07:32.160> chain 00:07:32.430 --> 00:07:32.440 align:start position:0% happened off chain so basically on chain 00:07:32.440 --> 00:07:33.790 align:start position:0% happened off chain so basically on chain everyone<00:07:32.759> does<00:07:33.000> everything<00:07:33.400> and<00:07:33.479> so<00:07:33.639> you 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Paradigm there yeah so by so it's sort 00:07:39.759 --> 00:07:42.189 align:start position:0% Paradigm there yeah so by so it's sort of<00:07:39.960> by<00:07:40.160> default<00:07:40.960> by<00:07:41.160> default<00:07:41.520> you<00:07:41.680> trust<00:07:42.120> but 00:07:42.189 --> 00:07:42.199 align:start position:0% of by default by default you trust but 00:07:42.199 --> 00:07:43.869 align:start position:0% of by default by default you trust but you<00:07:42.360> have<00:07:42.520> some<00:07:42.759> period<00:07:43.080> during<00:07:43.400> which<00:07:43.560> anyone 00:07:43.869 --> 00:07:43.879 align:start position:0% you have some period during which anyone 00:07:43.879 --> 00:07:45.830 align:start position:0% you have some period during which anyone can<00:07:44.080> challenge<00:07:44.800> if<00:07:44.960> someone<00:07:45.199> Audits<00:07:45.560> and<00:07:45.720> they 00:07:45.830 --> 00:07:45.840 align:start position:0% can challenge if someone Audits and they 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security<00:07:50.960> deposit<00:07:51.280> was 00:07:52.869 --> 00:07:52.879 align:start position:0% wrong security deposit was 00:07:52.879 --> 00:07:55.990 align:start position:0% wrong security deposit was lost<00:07:53.879> cool<00:07:54.280> yeah<00:07:54.440> so<00:07:54.560> we're<00:07:54.680> going<00:07:54.800> to<00:07:54.879> move<00:07:55.120> to 00:07:55.990 --> 00:07:56.000 align:start position:0% lost cool yeah so we're going to move to 00:07:56.000 --> 00:08:00.510 align:start position:0% lost cool yeah so we're going to move to um<00:07:56.720> sharting<00:07:57.360> sure<00:07:58.360> so<00:07:58.680> sharting<00:07:59.159> sure<00:07:59.840> so<00:08:00.360> uh 00:08:00.510 --> 00:08:00.520 align:start position:0% um sharting sure so sharting sure so uh 00:08:00.520 --> 00:08:02.430 align:start position:0% um sharting sure so sharting sure so uh one<00:08:00.759> idea<00:08:01.120> for<00:08:01.400> blockchain<00:08:01.800> scaling<00:08:02.159> is<00:08:02.280> to 00:08:02.430 --> 00:08:02.440 align:start position:0% one idea for blockchain scaling is to 00:08:02.440 --> 00:08:04.270 align:start position:0% one idea for blockchain scaling is to take<00:08:02.639> kind<00:08:02.720> of<00:08:02.840> one<00:08:03.039> blockchain<00:08:03.919> and<00:08:04.080> take 00:08:04.270 --> 00:08:04.280 align:start position:0% take kind of one blockchain and take 00:08:04.280 --> 00:08:07.510 align:start position:0% take kind of one blockchain and take this<00:08:04.879> state<00:08:05.240> space<00:08:05.520> and<00:08:05.680> split<00:08:05.960> it<00:08:06.080> up<00:08:06.240> into 00:08:07.510 --> 00:08:07.520 align:start position:0% this state space and split it up into 00:08:07.520 --> 00:08:10.350 align:start position:0% this state space and split it up into subspaces<00:08:08.520> uh<00:08:09.080> still<00:08:09.360> have<00:08:09.560> the<00:08:09.720> same<00:08:09.960> digital 00:08:10.350 --> 00:08:10.360 align:start position:0% subspaces uh still have the same digital 00:08:10.360 --> 00:08:11.869 align:start position:0% subspaces uh still have the same digital asset<00:08:10.599> on<00:08:10.720> all<00:08:10.840> the<00:08:10.960> subspaces<00:08:11.479> and<00:08:11.639> have<00:08:11.759> a 00:08:11.869 --> 00:08:11.879 align:start position:0% asset on all the subspaces and have a 00:08:11.879 --> 00:08:13.510 align:start position:0% asset on all the subspaces and have a protocol<00:08:12.240> for<00:08:12.440> moving<00:08:12.800> funds<00:08:13.159> and<00:08:13.280> doing 00:08:13.510 --> 00:08:13.520 align:start position:0% protocol for moving funds and doing 00:08:13.520 --> 00:08:16.189 align:start position:0% protocol for moving funds and doing contract<00:08:13.879> calls<00:08:14.199> between<00:08:14.479> the<00:08:15.039> subspaces<00:08:16.039> as 00:08:16.189 --> 00:08:16.199 align:start position:0% contract calls between the subspaces as 00:08:16.199 --> 00:08:17.670 align:start position:0% contract calls between the subspaces as well<00:08:16.360> as<00:08:16.520> a<00:08:16.639> protocol<00:08:17.000> for<00:08:17.159> making<00:08:17.360> sure<00:08:17.520> that 00:08:17.670 --> 00:08:17.680 align:start position:0% well as a protocol for making sure that 00:08:17.680 --> 00:08:19.670 align:start position:0% well as a protocol for making sure that all<00:08:17.800> subspaces<00:08:18.440> have<00:08:18.639> enough<00:08:18.919> nodes<00:08:19.360> in<00:08:19.440> order 00:08:19.670 --> 00:08:19.680 align:start position:0% all subspaces have enough nodes in order 00:08:19.680 --> 00:08:21.990 align:start position:0% all subspaces have enough nodes in order to<00:08:20.159> not<00:08:20.440> introduce<00:08:20.800> any<00:08:20.960> bti<00:08:21.280> state 00:08:21.990 --> 00:08:22.000 align:start position:0% to not introduce any bti state 00:08:22.000 --> 00:08:24.189 align:start position:0% to not introduce any bti state transitions<00:08:23.000> so<00:08:23.319> the<00:08:23.520> general<00:08:23.840> sort<00:08:24.039> of 00:08:24.189 --> 00:08:24.199 align:start position:0% transitions so the general sort of 00:08:24.199 --> 00:08:29.080 align:start position:0% transitions so the general sort of intuition<00:08:25.000> is<00:08:25.400> that<00:08:25.680> if<00:08:25.840> you<00:08:26.080> you<00:08:26.240> could<00:08:26.560> have 00:08:29.080 --> 00:08:29.090 align:start position:0% intuition is that if you you could have 00:08:29.090 --> 00:08:30.790 align:start position:0% intuition is that if you you could have [Applause] 00:08:30.790 --> 00:08:30.800 align:start position:0% [Applause] 00:08:30.800 --> 00:08:33.550 align:start position:0% [Applause] make<00:08:30.919> a<00:08:31.039> new<00:08:31.280> pad<00:08:31.680> so<00:08:31.919> the<00:08:32.039> to<00:08:32.519> is<00:08:32.680> you<00:08:32.880> have<00:08:33.399> you 00:08:33.550 --> 00:08:33.560 align:start position:0% make a new pad so the to is you have you 00:08:33.560 --> 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position:0% vertices and they're arranged in this in this<00:08:40.080> some<00:08:40.279> kind<00:08:40.440> of<00:08:40.560> you<00:08:40.680> know<00:08:40.880> dense<00:08:41.240> graph 00:08:41.589 --> 00:08:41.599 align:start position:0% this some kind of you know dense graph 00:08:41.599 --> 00:08:43.670 align:start position:0% this some kind of you know dense graph structure<00:08:42.560> so<00:08:42.760> you<00:08:42.839> know<00:08:43.000> we<00:08:43.120> talked<00:08:43.560> we 00:08:43.670 --> 00:08:43.680 align:start position:0% structure so you know we talked we 00:08:43.680 --> 00:08:47.310 align:start position:0% structure so you know we talked we talked<00:08:43.880> a<00:08:44.000> bit<00:08:44.159> about<00:08:44.399> graphs<00:08:45.279> yesterday<00:08:46.320> but 00:08:47.310 --> 00:08:47.320 align:start position:0% talked a bit about graphs yesterday but 00:08:47.320 --> 00:08:49.670 align:start position:0% talked a bit about graphs yesterday but and<00:08:47.760> uh<00:08:48.200> then<00:08:48.360> you<00:08:48.480> have<00:08:48.680> a<00:08:48.839> sort<00:08:49.000> of<00:08:49.360> a<00:08:49.440> sort<00:08:49.560> of 00:08:49.670 --> 00:08:49.680 align:start position:0% and uh then you have a sort of a sort of 00:08:49.680 --> 00:08:51.389 align:start position:0% and uh then you have a sort of a sort of header<00:08:49.959> chain<00:08:50.200> in<00:08:50.279> the 00:08:51.389 --> 00:08:51.399 align:start position:0% header chain in the 00:08:51.399 --> 00:08:54.670 align:start position:0% header chain in the middle<00:08:52.399> and<00:08:52.480> so<00:08:52.680> the<00:08:52.839> idea<00:08:53.200> is<00:08:53.480> is<00:08:53.640> that<00:08:53.920> you<00:08:54.200> as 00:08:54.670 --> 00:08:54.680 align:start position:0% middle and so the idea is is that you as 00:08:54.680 --> 00:08:56.350 align:start position:0% middle and so the idea is is that you as if<00:08:54.800> you<00:08:54.920> are<00:08:55.040> a<00:08:55.200> miner<00:08:55.640> on<00:08:55.839> this<00:08:56.040> kind<00:08:56.160> of 00:08:56.350 --> 00:08:56.360 align:start position:0% if you are a miner on this kind of 00:08:56.360 --> 00:08:57.630 align:start position:0% if you are a miner on this kind of system<00:08:56.680> what<00:08:56.800> you're<00:08:57.000> actually<00:08:57.240> doing<00:08:57.519> is 00:08:57.630 --> 00:08:57.640 align:start position:0% system what you're actually doing is 00:08:57.640 --> 00:08:59.949 align:start position:0% system what you're actually doing is you're<00:08:57.800> mining<00:08:58.120> an<00:08:58.320> edge<00:08:59.160> so<00:08:59.440> so<00:08:59.720> when<00:08:59.839> you 00:08:59.949 --> 00:08:59.959 align:start position:0% you're mining an edge so so when you 00:08:59.959 --> 00:09:01.670 align:start position:0% you're mining an edge so so when you mine<00:09:00.160> an<00:09:00.320> edge<00:09:00.680> what<00:09:00.760> you<00:09:00.959> what<00:09:01.040> it<00:09:01.160> means<00:09:01.480> is 00:09:01.670 --> 00:09:01.680 align:start position:0% mine an edge what you what it means is 00:09:01.680 --> 00:09:03.910 align:start position:0% mine an edge what you what it means is is<00:09:01.839> that<00:09:02.000> you<00:09:02.160> can<00:09:02.440> process<00:09:03.240> transactions 00:09:03.910 --> 00:09:03.920 align:start position:0% is that you can process transactions 00:09:03.920 --> 00:09:05.470 align:start position:0% is that you can process transactions that<00:09:04.079> happen<00:09:04.360> inside<00:09:04.600> of<00:09:04.839> here<00:09:05.240> you're 00:09:05.470 --> 00:09:05.480 align:start position:0% that happen inside of here you're 00:09:05.480 --> 00:09:06.790 align:start position:0% that happen inside of here you're processing<00:09:05.959> transactions<00:09:06.440> that<00:09:06.560> happen 00:09:06.790 --> 00:09:06.800 align:start position:0% processing transactions that happen 00:09:06.800 --> 00:09:08.550 align:start position:0% processing transactions that happen inside<00:09:07.040> of<00:09:07.240> here<00:09:07.920> and<00:09:08.040> you're<00:09:08.279> also 00:09:08.550 --> 00:09:08.560 align:start position:0% inside of here and you're also 00:09:08.560 --> 00:09:09.990 align:start position:0% inside of here and you're also processing<00:09:09.000> the<00:09:09.079> movement<00:09:09.399> of<00:09:09.560> messages 00:09:09.990 --> 00:09:10.000 align:start position:0% processing the movement of messages 00:09:10.000 --> 00:09:11.310 align:start position:0% processing the movement of messages going<00:09:10.200> from<00:09:10.360> here<00:09:10.480> to<00:09:10.640> here<00:09:10.760> and<00:09:10.880> from<00:09:11.000> here<00:09:11.160> to 00:09:11.310 --> 00:09:11.320 align:start position:0% going from here to here and from here to 00:09:11.320 --> 00:09:13.230 align:start position:0% going from here to here and from here to here<00:09:12.079> so<00:09:12.240> let's<00:09:12.399> say<00:09:12.560> if<00:09:12.640> you<00:09:12.720> have<00:09:12.839> a<00:09:12.959> sort<00:09:13.079> of 00:09:13.230 --> 00:09:13.240 align:start position:0% here so let's say if you have a sort of 00:09:13.240 --> 00:09:15.990 align:start position:0% here so let's say if you have a sort of multi-chain<00:09:13.880> dap<00:09:14.200> or<00:09:14.279> if<00:09:14.480> you<00:09:15.480> that<00:09:15.680> that<00:09:15.839> has 00:09:15.990 --> 00:09:16.000 align:start position:0% multi-chain dap or if you that that has 00:09:16.000 --> 00:09:17.750 align:start position:0% multi-chain dap or if you that that has some<00:09:16.200> state<00:09:16.440> in<00:09:16.600> this<00:09:16.839> in<00:09:16.959> this<00:09:17.079> little<00:09:17.480> sector 00:09:17.750 --> 00:09:17.760 align:start position:0% some state in this in this little sector 00:09:17.760 --> 00:09:19.710 align:start position:0% some state in this in this little sector and<00:09:17.880> some<00:09:18.040> state<00:09:18.279> in<00:09:18.360> this<00:09:18.480> little<00:09:18.800> sector 00:09:19.710 --> 00:09:19.720 align:start position:0% and some state in this little sector 00:09:19.720 --> 00:09:21.670 align:start position:0% and some state in this little sector then<00:09:20.079> it<00:09:20.200> sends<00:09:20.480> Alpha<00:09:20.839> message<00:09:21.440> and<00:09:21.560> the 00:09:21.670 --> 00:09:21.680 align:start position:0% then it sends Alpha message and the 00:09:21.680 --> 00:09:23.509 align:start position:0% then it sends Alpha message and the message<00:09:21.959> gets<00:09:22.120> stored<00:09:22.440> in<00:09:22.640> in<00:09:22.760> the<00:09:22.880> outbox 00:09:23.509 --> 00:09:23.519 align:start position:0% message gets stored in in the outbox 00:09:23.519 --> 00:09:25.350 align:start position:0% message gets stored in in the outbox here<00:09:23.959> eventually<00:09:24.360> someone<00:09:24.600> mins<00:09:24.959> this<00:09:25.079> Edge 00:09:25.350 --> 00:09:25.360 align:start position:0% here eventually someone mins this Edge 00:09:25.360 --> 00:09:26.590 align:start position:0% here eventually someone mins this Edge when<00:09:25.480> someone<00:09:25.680> mines<00:09:25.959> this<00:09:26.079> Edge<00:09:26.279> it<00:09:26.399> gets 00:09:26.590 --> 00:09:26.600 align:start position:0% when someone mines this Edge it gets 00:09:26.600 --> 00:09:27.790 align:start position:0% when someone mines this Edge it gets kicked<00:09:26.800> out<00:09:26.880> of<00:09:27.000> the<00:09:27.040> outbox<00:09:27.480> here<00:09:27.560> it<00:09:27.680> gets 00:09:27.790 --> 00:09:27.800 align:start position:0% kicked out of the outbox here it gets 00:09:27.800 --> 00:09:29.790 align:start position:0% kicked out of the outbox here it gets moved<00:09:28.000> to<00:09:28.079> the<00:09:28.160> outbox<00:09:28.640> here<00:09:29.040> when<00:09:29.120> it<00:09:29.600> this 00:09:29.790 --> 00:09:29.800 align:start position:0% moved to the outbox here when it this 00:09:29.800 --> 00:09:31.470 align:start position:0% moved to the outbox here when it this Edge<00:09:30.200> it<00:09:30.320> gets<00:09:30.519> moved<00:09:30.760> from<00:09:30.839> the<00:09:30.920> out<00:09:31.160> box<00:09:31.320> here 00:09:31.470 --> 00:09:31.480 align:start position:0% Edge it gets moved from the out box here 00:09:31.480 --> 00:09:32.790 align:start position:0% Edge it gets moved from the out box here the<00:09:31.560> out<00:09:31.760> box<00:09:31.959> here<00:09:32.079> and<00:09:32.200> eventually<00:09:32.519> sort<00:09:32.680> of 00:09:32.790 --> 00:09:32.800 align:start position:0% the out box here and eventually sort of 00:09:32.800 --> 00:09:35.069 align:start position:0% the out box here and eventually sort of makes<00:09:33.000> its<00:09:33.160> way<00:09:33.279> over<00:09:33.560> here<00:09:34.560> and<00:09:34.720> then<00:09:34.839> for<00:09:34.959> the 00:09:35.069 --> 00:09:35.079 align:start position:0% makes its way over here and then for the 00:09:35.079 --> 00:09:38.389 align:start position:0% makes its way over here and then for the header<00:09:35.320> chain<00:09:35.800> here<00:09:36.519> the<00:09:36.760> idea<00:09:37.240> is<00:09:37.720> that 00:09:38.389 --> 00:09:38.399 align:start position:0% header chain here the idea is that 00:09:38.399 --> 00:09:39.990 align:start position:0% header chain here the idea is that basically<00:09:38.880> all<00:09:39.000> of<00:09:39.160> these<00:09:39.320> sort<00:09:39.480> of<00:09:39.640> Mind 00:09:39.990 --> 00:09:40.000 align:start position:0% basically all of these sort of Mind 00:09:40.000 --> 00:09:41.550 align:start position:0% basically all of these sort of Mind edges<00:09:40.440> all<00:09:40.640> make<00:09:40.800> their<00:09:40.959> way<00:09:41.079> into<00:09:41.240> the<00:09:41.360> header 00:09:41.550 --> 00:09:41.560 align:start position:0% edges all make their way into the header 00:09:41.560 --> 00:09:43.190 align:start position:0% edges all make their way into the header chain<00:09:42.120> and<00:09:42.200> the<00:09:42.320> header<00:09:42.560> chain<00:09:42.800> just<00:09:42.959> sort<00:09:43.079> of 00:09:43.190 --> 00:09:43.200 align:start position:0% chain and the header chain just sort of 00:09:43.200 --> 00:09:46.150 align:start position:0% chain and the header chain just sort of maintains<00:09:43.720> the<00:09:43.839> global<00:09:44.160> order<00:09:44.519> of<00:09:44.959> what<00:09:45.959> or 00:09:46.150 --> 00:09:46.160 align:start position:0% maintains the global order of what or 00:09:46.160 --> 00:09:47.949 align:start position:0% maintains the global order of what or order<00:09:46.480> of<00:09:46.640> the<00:09:46.760> of<00:09:46.880> the<00:09:47.040> entire<00:09:47.399> thing<00:09:47.640> just<00:09:47.800> by 00:09:47.949 --> 00:09:47.959 align:start position:0% order of the of the entire thing just by 00:09:47.959 --> 00:09:49.710 align:start position:0% order of the of the entire thing just by keeping<00:09:48.200> track<00:09:48.399> of<00:09:48.480> all<00:09:48.600> the<00:09:48.760> headers<00:09:49.399> yeah 00:09:49.710 --> 00:09:49.720 align:start position:0% keeping track of all the headers yeah 00:09:49.720 --> 00:09:51.470 align:start position:0% keeping track of all the headers yeah and<00:09:49.839> so<00:09:50.000> the<00:09:50.160> reason<00:09:50.560> that<00:09:50.880> the<00:09:51.040> header<00:09:51.279> chain 00:09:51.470 --> 00:09:51.480 align:start position:0% and so the reason that the header chain 00:09:51.480 --> 00:09:53.470 align:start position:0% and so the reason that the header chain is<00:09:51.600> really<00:09:51.880> important<00:09:52.880> for<00:09:53.040> this<00:09:53.160> type<00:09:53.360> of 00:09:53.470 --> 00:09:53.480 align:start position:0% is really important for this type of 00:09:53.480 --> 00:09:54.870 align:start position:0% is really important for this type of Architecture<00:09:53.920> is<00:09:54.079> that<00:09:54.279> because<00:09:54.560> everyone 00:09:54.870 --> 00:09:54.880 align:start position:0% Architecture is that because everyone 00:09:54.880 --> 00:09:57.829 align:start position:0% Architecture is that because everyone uses<00:09:55.320> the<00:09:55.480> same<00:09:56.079> digital<00:09:56.519> asset<00:09:57.480> uh<00:09:57.640> if<00:09:57.720> you 00:09:57.829 --> 00:09:57.839 align:start position:0% uses the same digital asset uh if you 00:09:57.839 --> 00:10:01.829 align:start position:0% uses the same digital asset uh if you were<00:09:57.959> to<00:09:58.200> have<00:09:58.600> say<00:09:59.399> one<00:09:59.519> of<00:09:59.720> these<00:10:00.640> uh<00:10:01.600> one<00:10:01.720> of 00:10:01.829 --> 00:10:01.839 align:start position:0% were to have say one of these uh one of 00:10:01.839 --> 00:10:03.389 align:start position:0% were to have say one of these uh one of these<00:10:02.000> substates<00:10:02.480> not<00:10:02.680> really<00:10:02.920> coordinated 00:10:03.389 --> 00:10:03.399 align:start position:0% these substates not really coordinated 00:10:03.399 --> 00:10:04.310 align:start position:0% these substates not really coordinated with<00:10:03.480> the<00:10:03.560> other<00:10:03.680> ones<00:10:03.839> you<00:10:03.920> can<00:10:04.040> have<00:10:04.200> one 00:10:04.310 --> 00:10:04.320 align:start position:0% with the other ones you can have one 00:10:04.320 --> 00:10:05.870 align:start position:0% with the other ones you can have one substate<00:10:04.760> that<00:10:04.839> has<00:10:05.000> much<00:10:05.160> lower<00:10:05.480> security 00:10:05.870 --> 00:10:05.880 align:start position:0% substate that has much lower security 00:10:05.880 --> 00:10:08.310 align:start position:0% substate that has much lower security than<00:10:06.040> the<00:10:06.120> other<00:10:06.279> ones<00:10:07.000> and<00:10:07.120> then<00:10:07.279> you<00:10:07.480> would 00:10:08.310 --> 00:10:08.320 align:start position:0% than the other ones and then you would 00:10:08.320 --> 00:10:09.829 align:start position:0% than the other ones and then you would basically<00:10:08.720> by<00:10:08.839> introducing<00:10:09.240> a<00:10:09.360> qualy<00:10:09.640> state 00:10:09.829 --> 00:10:09.839 align:start position:0% basically by introducing a qualy state 00:10:09.839 --> 00:10:12.509 align:start position:0% basically by introducing a qualy state transition<00:10:10.200> in<00:10:10.360> that<00:10:10.640> substate<00:10:11.640> uh<00:10:12.000> impact 00:10:12.509 --> 00:10:12.519 align:start position:0% transition in that substate uh impact 00:10:12.519 --> 00:10:13.590 align:start position:0% transition in that substate uh impact all<00:10:12.680> the<00:10:12.760> other<00:10:12.920> ones<00:10:13.160> because<00:10:13.320> they're<00:10:13.480> all 00:10:13.590 --> 00:10:13.600 align:start position:0% all the other ones because they're all 00:10:13.600 --> 00:10:16.590 align:start position:0% all the other ones because they're all using<00:10:13.839> the<00:10:13.920> same<00:10:14.120> digital<00:10:14.440> asset<00:10:15.399> so<00:10:16.120> uh<00:10:16.320> the 00:10:16.590 --> 00:10:16.600 align:start position:0% using the same digital asset so uh the 00:10:16.600 --> 00:10:18.069 align:start position:0% using the same digital asset so uh the the<00:10:16.760> fact<00:10:16.920> that<00:10:17.040> everyone<00:10:17.360> shares<00:10:17.680> some<00:10:17.880> piece 00:10:18.069 --> 00:10:18.079 align:start position:0% the fact that everyone shares some piece 00:10:18.079 --> 00:10:20.550 align:start position:0% the fact that everyone shares some piece of<00:10:18.240> consensus<00:10:18.720> is<00:10:19.000> important<00:10:19.519> because<00:10:20.279> that's 00:10:20.550 --> 00:10:20.560 align:start position:0% of consensus is important because that's 00:10:20.560 --> 00:10:23.269 align:start position:0% of consensus is important because that's what<00:10:20.680> you<00:10:20.920> use<00:10:21.240> to<00:10:21.800> make<00:10:21.959> sure<00:10:22.240> that<00:10:22.440> kind<00:10:22.560> of 00:10:23.269 --> 00:10:23.279 align:start position:0% what you use to make sure that kind of 00:10:23.279 --> 00:10:25.150 align:start position:0% what you use to make sure that kind of all<00:10:23.560> your<00:10:23.720> checks<00:10:24.120> to<00:10:24.279> make<00:10:24.399> sure<00:10:24.640> that<00:10:25.040> you 00:10:25.150 --> 00:10:25.160 align:start position:0% all your checks to make sure that you 00:10:25.160 --> 00:10:28.269 align:start position:0% all your checks to make sure that you don't<00:10:25.360> have<00:10:25.760> insecure<00:10:26.600> substates<00:10:27.600> uh<00:10:27.760> occurs 00:10:28.269 --> 00:10:28.279 align:start position:0% don't have insecure substates uh occurs 00:10:28.279 --> 00:10:29.710 align:start position:0% don't have insecure substates uh occurs right<00:10:28.560> yes<00:10:28.720> so<00:10:28.839> we<00:10:28.959> call<00:10:29.160> this<00:10:29.399> kind<00:10:29.480> of<00:10:29.600> like 00:10:29.710 --> 00:10:29.720 align:start position:0% right yes so we call this kind of like 00:10:29.720 --> 00:10:31.069 align:start position:0% right yes so we call this kind of like the<00:10:29.800> fragility<00:10:30.360> problem<00:10:30.600> if<00:10:30.720> something<00:10:30.920> goes 00:10:31.069 --> 00:10:31.079 align:start position:0% the fragility problem if something goes 00:10:31.079 --> 00:10:33.150 align:start position:0% the fragility problem if something goes wrong<00:10:31.240> in<00:10:31.360> one<00:10:31.560> substate<00:10:32.279> and<00:10:32.560> not<00:10:32.720> every<00:10:32.920> node 00:10:33.150 --> 00:10:33.160 align:start position:0% wrong in one substate and not every node 00:10:33.160 --> 00:10:34.710 align:start position:0% wrong in one substate and not every node is<00:10:33.279> processing<00:10:33.680> everything<00:10:33.959> so<00:10:34.399> for<00:10:34.560> any 00:10:34.710 --> 00:10:34.720 align:start position:0% is processing everything so for any 00:10:34.720 --> 00:10:36.710 align:start position:0% is processing everything so for any given<00:10:34.920> noes<00:10:35.200> perspective<00:10:35.560> you'll<00:10:35.760> never<00:10:36.000> know 00:10:36.710 --> 00:10:36.720 align:start position:0% given noes perspective you'll never know 00:10:36.720 --> 00:10:38.590 align:start position:0% given noes perspective you'll never know 100%<00:10:37.560> that<00:10:37.760> something<00:10:38.000> didn't<00:10:38.200> go<00:10:38.320> wrong<00:10:38.519> in 00:10:38.590 --> 00:10:38.600 align:start position:0% 100% that something didn't go wrong in 00:10:38.600 --> 00:10:39.670 align:start position:0% 100% that something didn't go wrong in one<00:10:38.720> of<00:10:38.760> the<00:10:38.839> substates<00:10:39.240> that<00:10:39.320> you<00:10:39.440> didn't 00:10:39.670 --> 00:10:39.680 align:start position:0% one of the substates that you didn't 00:10:39.680 --> 00:10:41.990 align:start position:0% one of the substates that you didn't process<00:10:40.519> yes<00:10:41.160> what<00:10:41.240> you<00:10:41.360> can<00:10:41.519> do<00:10:41.639> is<00:10:41.800> kind<00:10:41.880> of 00:10:41.990 --> 00:10:42.000 align:start position:0% process yes what you can do is kind of 00:10:42.000 --> 00:10:44.430 align:start position:0% process yes what you can do is kind of challenge<00:10:42.279> response<00:10:42.920> protocols<00:10:43.920> right<00:10:44.279> so 00:10:44.430 --> 00:10:44.440 align:start position:0% challenge response protocols right so 00:10:44.440 --> 00:10:46.030 align:start position:0% challenge response protocols right so that's<00:10:44.600> the<00:10:44.760> first<00:10:45.000> approach 00:10:46.030 --> 00:10:46.040 align:start position:0% that's the first approach 00:10:46.040 --> 00:10:48.710 align:start position:0% that's the first approach so<00:10:47.040> the<00:10:47.240> idea<00:10:47.680> behind<00:10:47.920> challenge<00:10:48.320> response 00:10:48.710 --> 00:10:48.720 align:start position:0% so the idea behind challenge response 00:10:48.720 --> 00:10:50.269 align:start position:0% so the idea behind challenge response protocols<00:10:49.200> is<00:10:49.399> that<00:10:49.560> if<00:10:49.639> you<00:10:49.760> think<00:10:49.920> about<00:10:50.120> a 00:10:50.269 --> 00:10:50.279 align:start position:0% protocols is that if you think about a 00:10:50.279 --> 00:10:52.829 align:start position:0% protocols is that if you think about a block<00:10:50.839> a<00:10:51.040> block<00:10:51.360> you<00:10:51.480> have<00:10:51.600> a<00:10:51.760> header<00:10:52.480> then<00:10:52.639> you 00:10:52.829 --> 00:10:52.839 align:start position:0% block a block you have a header then you 00:10:52.839 --> 00:10:54.750 align:start position:0% block a block you have a header then you have<00:10:53.000> you<00:10:53.120> know<00:10:53.320> some<00:10:53.560> set<00:10:53.680> of<00:10:53.800> transactions 00:10:54.750 --> 00:10:54.760 align:start position:0% have you know some set of transactions 00:10:54.760 --> 00:10:56.629 align:start position:0% have you know some set of transactions and<00:10:54.880> then<00:10:55.000> you<00:10:55.079> have<00:10:55.200> a<00:10:55.279> state<00:10:55.519> tree<00:10:55.839> over<00:10:56.079> here 00:10:56.629 --> 00:10:56.639 align:start position:0% and then you have a state tree over here 00:10:56.639 --> 00:10:58.269 align:start position:0% and then you have a state tree over here then<00:10:56.800> there's<00:10:57.040> some<00:10:57.320> subset<00:10:57.959> there's<00:10:58.200> going 00:10:58.269 --> 00:10:58.279 align:start position:0% then there's some subset there's going 00:10:58.279 --> 00:11:00.710 align:start position:0% then there's some subset there's going to<00:10:58.399> be<00:10:58.560> some<00:10:58.800> subset<00:10:59.440> State<00:10:59.720> nodes<00:11:00.440> that<00:11:00.560> the 00:11:00.710 --> 00:11:00.720 align:start position:0% to be some subset State nodes that the 00:11:00.720 --> 00:11:03.430 align:start position:0% to be some subset State nodes that the block<00:11:01.040> ended<00:11:01.320> up<00:11:01.680> ended<00:11:01.920> up<00:11:02.160> modifying<00:11:02.880> while 00:11:03.430 --> 00:11:03.440 align:start position:0% block ended up ended up modifying while 00:11:03.440 --> 00:11:05.150 align:start position:0% block ended up ended up modifying while while<00:11:03.760> processing<00:11:04.240> or<00:11:04.519> processing<00:11:04.920> each<00:11:05.040> one 00:11:05.150 --> 00:11:05.160 align:start position:0% while processing or processing each one 00:11:05.160 --> 00:11:07.710 align:start position:0% while processing or processing each one of<00:11:05.279> these<00:11:05.720> transactions<00:11:06.720> so<00:11:07.440> what<00:11:07.560> you 00:11:07.710 --> 00:11:07.720 align:start position:0% of these transactions so what you 00:11:07.720 --> 00:11:10.470 align:start position:0% of these transactions so what you realize<00:11:08.240> is<00:11:08.480> that<00:11:08.760> if<00:11:08.959> a<00:11:09.120> block<00:11:09.399> is<00:11:09.600> invalid 00:11:10.470 --> 00:11:10.480 align:start position:0% realize is that if a block is invalid 00:11:10.480 --> 00:11:12.310 align:start position:0% realize is that if a block is invalid then<00:11:10.680> what<00:11:10.800> that<00:11:10.959> means<00:11:11.519> is<00:11:11.760> first<00:11:11.920> of<00:11:12.079> all<00:11:12.200> you 00:11:12.310 --> 00:11:12.320 align:start position:0% then what that means is first of all you 00:11:12.320 --> 00:11:13.550 align:start position:0% then what that means is first of all you know<00:11:12.480> it<00:11:12.560> could<00:11:12.720> be<00:11:12.880> just<00:11:13.040> be<00:11:13.160> that<00:11:13.279> the<00:11:13.360> block 00:11:13.550 --> 00:11:13.560 align:start position:0% know it could be just be that the block 00:11:13.560 --> 00:11:15.190 align:start position:0% know it could be just be that the block is<00:11:13.720> badly<00:11:14.000> formatted<00:11:14.560> which<00:11:14.639> is<00:11:14.800> just<00:11:14.959> very 00:11:15.190 --> 00:11:15.200 align:start position:0% is badly formatted which is just very 00:11:15.200 --> 00:11:17.430 align:start position:0% is badly formatted which is just very obvious<00:11:15.519> to<00:11:15.720> detect<00:11:16.440> but<00:11:16.560> it<00:11:16.720> could<00:11:16.959> also<00:11:17.160> mean 00:11:17.430 --> 00:11:17.440 align:start position:0% obvious to detect but it could also mean 00:11:17.440 --> 00:11:19.150 align:start position:0% obvious to detect but it could also mean that<00:11:17.560> one<00:11:17.680> of<00:11:17.839> these<00:11:18.040> transactions<00:11:18.720> at<00:11:18.920> some 00:11:19.150 --> 00:11:19.160 align:start position:0% that one of these transactions at some 00:11:19.160 --> 00:11:20.430 align:start position:0% that one of these transactions at some point 00:11:20.430 --> 00:11:20.440 align:start position:0% point 00:11:20.440 --> 00:11:22.750 align:start position:0% point has<00:11:21.440> has<00:11:21.600> some<00:11:21.760> State<00:11:22.040> transition<00:11:22.519> that's 00:11:22.750 --> 00:11:22.760 align:start position:0% has has some State transition that's 00:11:22.760 --> 00:11:26.509 align:start position:0% has has some State transition that's invalid<00:11:23.760> and<00:11:23.920> so<00:11:24.680> the<00:11:24.880> idea<00:11:25.399> is<00:11:25.760> that<00:11:26.079> if<00:11:26.320> an 00:11:26.509 --> 00:11:26.519 align:start position:0% invalid and so the idea is that if an 00:11:26.519 --> 00:11:28.470 align:start position:0% invalid and so the idea is that if an attacker<00:11:26.959> makes<00:11:27.320> or<00:11:27.480> if<00:11:27.600> an<00:11:27.760> attacker<00:11:28.200> makes 00:11:28.470 --> 00:11:28.480 align:start position:0% attacker makes or if an attacker makes 00:11:28.480 --> 00:11:30.590 align:start position:0% attacker makes or if an attacker makes some<00:11:28.639> kind<00:11:28.760> of<00:11:28.880> a<00:11:29.519> makes<00:11:29.720> a<00:11:29.839> block<00:11:30.160> on<00:11:30.320> one 00:11:30.590 --> 00:11:30.600 align:start position:0% some kind of a makes a block on one 00:11:30.600 --> 00:11:33.230 align:start position:0% some kind of a makes a block on one chain<00:11:31.600> and<00:11:31.839> that<00:11:32.040> block<00:11:32.399> and<00:11:32.519> that<00:11:32.680> block<00:11:32.959> is 00:11:33.230 --> 00:11:33.240 align:start position:0% chain and that block and that block is 00:11:33.240 --> 00:11:34.949 align:start position:0% chain and that block and that block is invalid<00:11:33.920> so<00:11:34.079> first<00:11:34.240> of<00:11:34.320> all<00:11:34.399> if<00:11:34.519> the<00:11:34.600> block<00:11:34.800> is 00:11:34.949 --> 00:11:34.959 align:start position:0% invalid so first of all if the block is 00:11:34.959 --> 00:11:36.990 align:start position:0% invalid so first of all if the block is actually<00:11:35.279> invalid<00:11:36.120> then<00:11:36.320> what<00:11:36.440> you<00:11:36.519> can<00:11:36.680> do 00:11:36.990 --> 00:11:37.000 align:start position:0% actually invalid then what you can do 00:11:37.000 --> 00:11:39.629 align:start position:0% actually invalid then what you can do what<00:11:37.200> the<00:11:37.600> some<00:11:37.800> good<00:11:38.040> guys<00:11:38.279> can<00:11:38.440> do<00:11:38.800> is<00:11:39.480> they 00:11:39.629 --> 00:11:39.639 align:start position:0% what the some good guys can do is they 00:11:39.639 --> 00:11:41.430 align:start position:0% what the some good guys can do is they can<00:11:39.959> Pro<00:11:40.440> they<00:11:40.519> can<00:11:40.680> basically<00:11:41.079> provide<00:11:41.320> a 00:11:41.430 --> 00:11:41.440 align:start position:0% can Pro they can basically provide a 00:11:41.440 --> 00:11:44.110 align:start position:0% can Pro they can basically provide a miracle<00:11:41.800> tree<00:11:42.160> proof<00:11:43.000> of<00:11:43.240> the<00:11:43.480> exact<00:11:43.800> set<00:11:43.959> of 00:11:44.110 --> 00:11:44.120 align:start position:0% miracle tree proof of the exact set of 00:11:44.120 --> 00:11:46.030 align:start position:0% miracle tree proof of the exact set of changes<00:11:44.480> that<00:11:44.920> transaction<00:11:45.399> was<00:11:45.600> supposed<00:11:45.880> to 00:11:46.030 --> 00:11:46.040 align:start position:0% changes that transaction was supposed to 00:11:46.040 --> 00:11:48.310 align:start position:0% changes that transaction was supposed to make<00:11:46.720> and<00:11:47.079> people<00:11:47.320> can<00:11:47.560> re<00:11:47.720> can<00:11:47.880> see<00:11:48.120> that<00:11:48.240> the 00:11:48.310 --> 00:11:48.320 align:start position:0% make and people can re can see that the 00:11:48.320 --> 00:11:49.670 align:start position:0% make and people can re can see that the changes<00:11:48.639> that<00:11:48.760> the<00:11:48.839> attacker<00:11:49.200> made<00:11:49.360> are<00:11:49.519> not 00:11:49.670 --> 00:11:49.680 align:start position:0% changes that the attacker made are not 00:11:49.680 --> 00:11:51.150 align:start position:0% changes that the attacker made are not the<00:11:49.800> same<00:11:50.040> as<00:11:50.240> the<00:11:50.399> as<00:11:50.519> the<00:11:50.639> changes<00:11:50.920> that<00:11:51.079> the 00:11:51.150 --> 00:11:51.160 align:start position:0% the same as the as the changes that the 00:11:51.160 --> 00:11:52.949 align:start position:0% the same as the as the changes that the attacker<00:11:51.440> was<00:11:51.560> supposed<00:11:51.839> to<00:11:51.959> make<00:11:52.720> now<00:11:52.839> the 00:11:52.949 --> 00:11:52.959 align:start position:0% attacker was supposed to make now the 00:11:52.959 --> 00:11:55.230 align:start position:0% attacker was supposed to make now the other<00:11:53.240> problem<00:11:53.600> of<00:11:53.720> course<00:11:54.079> is<00:11:54.680> well<00:11:54.920> what<00:11:55.040> if 00:11:55.230 --> 00:11:55.240 align:start position:0% other problem of course is well what if 00:11:55.240 --> 00:11:57.629 align:start position:0% other problem of course is well what if the<00:11:55.560> what<00:11:55.639> if<00:11:55.800> the<00:11:55.920> attacker<00:11:56.519> just<00:11:57.240> publishes 00:11:57.629 --> 00:11:57.639 align:start position:0% the what if the attacker just publishes 00:11:57.639 --> 00:11:59.750 align:start position:0% the what if the attacker just publishes a<00:11:57.800> block<00:11:58.360> but<00:11:58.519> does<00:11:58.680> not<00:11:58.839> publish<00:11:59.360> all<00:11:59.440> of<00:11:59.600> the 00:11:59.750 --> 00:11:59.760 align:start position:0% a block but does not publish all of the 00:11:59.760 --> 00:12:01.710 align:start position:0% a block but does not publish all of the data<00:12:00.440> so<00:12:00.639> that's<00:12:00.800> going<00:12:00.920> to<00:12:01.040> be<00:12:01.440> it's<00:12:01.560> going<00:12:01.639> to 00:12:01.710 --> 00:12:01.720 align:start position:0% data so that's going to be it's going to 00:12:01.720 --> 00:12:03.670 align:start position:0% data so that's going to be it's going to be<00:12:01.920> very<00:12:02.279> very<00:12:02.560> obvious<00:12:02.839> to<00:12:03.000> people<00:12:03.279> on<00:12:03.480> that 00:12:03.670 --> 00:12:03.680 align:start position:0% be very very obvious to people on that 00:12:03.680 --> 00:12:05.550 align:start position:0% be very very obvious to people on that chain<00:12:04.320> but<00:12:04.440> the<00:12:04.560> problem<00:12:04.839> is<00:12:04.959> if<00:12:05.079> the<00:12:05.200> data<00:12:05.399> is 00:12:05.550 --> 00:12:05.560 align:start position:0% chain but the problem is if the data is 00:12:05.560 --> 00:12:07.949 align:start position:0% chain but the problem is if the data is not<00:12:05.880> there<00:12:06.760> then<00:12:06.959> there's<00:12:07.240> no<00:12:07.399> way<00:12:07.519> to<00:12:07.680> come<00:12:07.800> up 00:12:07.949 --> 00:12:07.959 align:start position:0% not there then there's no way to come up 00:12:07.959 --> 00:12:10.269 align:start position:0% not there then there's no way to come up with<00:12:08.040> a<00:12:08.519> with<00:12:08.600> a<00:12:08.839> with<00:12:08.959> a<00:12:09.079> direct<00:12:09.519> proof<00:12:10.160> that 00:12:10.269 --> 00:12:10.279 align:start position:0% with a with a with a direct proof that 00:12:10.279 --> 00:12:11.590 align:start position:0% with a with a with a direct proof that it's<00:12:10.480> invalid<00:12:11.000> because<00:12:11.160> there's<00:12:11.320> just<00:12:11.440> sort 00:12:11.590 --> 00:12:11.600 align:start position:0% it's invalid because there's just sort 00:12:11.600 --> 00:12:13.509 align:start position:0% it's invalid because there's just sort of<00:12:11.720> no<00:12:11.920> data<00:12:12.240> like<00:12:12.399> theoretically<00:12:13.199> you<00:12:13.320> know 00:12:13.509 --> 00:12:13.519 align:start position:0% of no data like theoretically you know 00:12:13.519 --> 00:12:15.590 align:start position:0% of no data like theoretically you know theoretically<00:12:14.040> if<00:12:14.240> Bill<00:12:14.560> if<00:12:14.920> Bill<00:12:15.120> Gates<00:12:15.399> turn 00:12:15.590 --> 00:12:15.600 align:start position:0% theoretically if Bill if Bill Gates turn 00:12:15.600 --> 00:12:17.509 align:start position:0% theoretically if Bill if Bill Gates turn out<00:12:15.760> to<00:12:15.920> give<00:12:16.079> the<00:12:16.519> to<00:12:16.720> be<00:12:16.920> generous<00:12:17.279> and<00:12:17.399> give 00:12:17.509 --> 00:12:17.519 align:start position:0% out to give the to be generous and give 00:12:17.519 --> 00:12:19.750 align:start position:0% out to give the to be generous and give the<00:12:17.639> attacker<00:12:17.920> $100<00:12:18.320> million<00:12:19.320> there<00:12:19.519> could 00:12:19.750 --> 00:12:19.760 align:start position:0% the attacker $100 million there could 00:12:19.760 --> 00:12:21.389 align:start position:0% the attacker $100 million there could theoretically<00:12:20.360> be<00:12:20.600> something<00:12:20.920> legitimate 00:12:21.389 --> 00:12:21.399 align:start position:0% theoretically be something legitimate 00:12:21.399 --> 00:12:22.710 align:start position:0% theoretically be something legitimate that<00:12:21.519> happens<00:12:21.760> to<00:12:21.920> give<00:12:22.079> the<00:12:22.160> attacker<00:12:22.440> $100 00:12:22.710 --> 00:12:22.720 align:start position:0% that happens to give the attacker $100 00:12:22.720 --> 00:12:24.910 align:start position:0% that happens to give the attacker $100 million<00:12:23.639> but<00:12:23.760> if<00:12:23.880> the<00:12:23.959> attack<00:12:24.399> doesn't<00:12:24.600> Supply 00:12:24.910 --> 00:12:24.920 align:start position:0% million but if the attack doesn't Supply 00:12:24.920 --> 00:12:26.310 align:start position:0% million but if the attack doesn't Supply the<00:12:25.079> data<00:12:25.320> then<00:12:25.399> there's<00:12:25.600> sort<00:12:25.720> of<00:12:25.880> no<00:12:26.000> way<00:12:26.160> to 00:12:26.310 --> 00:12:26.320 align:start position:0% the data then there's sort of no way to 00:12:26.320 --> 00:12:27.949 align:start position:0% the data then there's sort of no way to know<00:12:26.880> so<00:12:27.040> that's<00:12:27.160> where<00:12:27.320> challenge<00:12:27.639> response 00:12:27.949 --> 00:12:27.959 align:start position:0% know so that's where challenge response 00:12:27.959 --> 00:12:29.629 align:start position:0% know so that's where challenge response comes<00:12:28.160> in<00:12:28.440> yeah<00:12:28.560> and<00:12:28.639> so<00:12:28.760> the<00:12:28.839> idea<00:12:29.279> be<00:12:29.399> that<00:12:29.519> if 00:12:29.629 --> 00:12:29.639 align:start position:0% comes in yeah and so the idea be that if 00:12:29.639 --> 00:12:31.150 align:start position:0% comes in yeah and so the idea be that if you<00:12:29.800> issue<00:12:30.040> a<00:12:30.160> challenge<00:12:30.480> of<00:12:30.600> some<00:12:30.800> particular 00:12:31.150 --> 00:12:31.160 align:start position:0% you issue a challenge of some particular 00:12:31.160 --> 00:12:32.790 align:start position:0% you issue a challenge of some particular State<00:12:31.440> transition<00:12:31.959> and<00:12:32.079> the<00:12:32.320> response<00:12:32.639> is 00:12:32.790 --> 00:12:32.800 align:start position:0% State transition and the response is 00:12:32.800 --> 00:12:34.509 align:start position:0% State transition and the response is never<00:12:33.079> provided<00:12:33.800> that<00:12:33.920> you<00:12:34.079> kind<00:12:34.199> of<00:12:34.320> would 00:12:34.509 --> 00:12:34.519 align:start position:0% never provided that you kind of would 00:12:34.519 --> 00:12:37.269 align:start position:0% never provided that you kind of would assume<00:12:34.800> that<00:12:34.959> that<00:12:35.120> state<00:12:35.399> transition<00:12:35.920> is<00:12:36.920> uh 00:12:37.269 --> 00:12:37.279 align:start position:0% assume that that state transition is uh 00:12:37.279 --> 00:12:39.670 align:start position:0% assume that that state transition is uh not<00:12:37.519> valid<00:12:38.360> yeah<00:12:38.720> but<00:12:39.040> kind<00:12:39.120> of<00:12:39.320> the<00:12:39.440> issue 00:12:39.670 --> 00:12:39.680 align:start position:0% not valid yeah but kind of the issue 00:12:39.680 --> 00:12:42.629 align:start position:0% not valid yeah but kind of the issue with<00:12:39.839> that<00:12:39.959> is<00:12:40.160> that<00:12:40.880> uh<00:12:41.360> you<00:12:41.600> basically 00:12:42.629 --> 00:12:42.639 align:start position:0% with that is that uh you basically 00:12:42.639 --> 00:12:45.269 align:start position:0% with that is that uh you basically require<00:12:43.639> people<00:12:44.000> to<00:12:44.199> be<00:12:44.600> giving<00:12:44.880> these 00:12:45.269 --> 00:12:45.279 align:start position:0% require people to be giving these 00:12:45.279 --> 00:12:48.509 align:start position:0% require people to be giving these challenges<00:12:46.279> and<00:12:46.480> looking<00:12:47.000> looking<00:12:47.240> for<00:12:47.560> where 00:12:48.509 --> 00:12:48.519 align:start position:0% challenges and looking looking for where 00:12:48.519 --> 00:12:50.870 align:start position:0% challenges and looking looking for where uh<00:12:48.720> where<00:12:48.839> it<00:12:48.959> went<00:12:49.199> wrong<00:12:49.839> but<00:12:50.079> if<00:12:50.399> there's<00:12:50.639> no 00:12:50.870 --> 00:12:50.880 align:start position:0% uh where it went wrong but if there's no 00:12:50.880 --> 00:12:52.790 align:start position:0% uh where it went wrong but if there's no cheating<00:12:51.560> then<00:12:51.720> there's<00:12:51.920> no<00:12:52.079> incentive<00:12:52.440> to<00:12:52.600> do 00:12:52.790 --> 00:12:52.800 align:start position:0% cheating then there's no incentive to do 00:12:52.800 --> 00:12:56.269 align:start position:0% cheating then there's no incentive to do that<00:12:53.760> uh<00:12:53.880> so<00:12:54.120> kind<00:12:54.199> of<00:12:54.320> an<00:12:55.160> ends<00:12:55.279> up<00:12:55.480> being<00:12:56.120> that 00:12:56.269 --> 00:12:56.279 align:start position:0% that uh so kind of an ends up being that 00:12:56.279 --> 00:12:58.150 align:start position:0% that uh so kind of an ends up being that there's<00:12:56.480> a<00:12:56.680> non-zero<00:12:57.360> amount<00:12:57.639> of<00:12:57.800> invalid 00:12:58.150 --> 00:12:58.160 align:start position:0% there's a non-zero amount of invalid 00:12:58.160 --> 00:13:00.230 align:start position:0% there's a non-zero amount of invalid State<00:12:58.399> transitions<00:12:59.480> that's<00:12:59.639> one<00:12:59.839> problem<00:13:00.120> the 00:13:00.230 --> 00:13:00.240 align:start position:0% State transitions that's one problem the 00:13:00.240 --> 00:13:02.230 align:start position:0% State transitions that's one problem the other<00:13:00.440> problem<00:13:00.720> is<00:13:00.880> this<00:13:01.040> sort<00:13:01.199> of<00:13:01.600> fragility 00:13:02.230 --> 00:13:02.240 align:start position:0% other problem is this sort of fragility 00:13:02.240 --> 00:13:04.670 align:start position:0% other problem is this sort of fragility issue<00:13:02.560> which<00:13:02.720> is<00:13:02.839> that<00:13:03.000> if<00:13:03.079> an<00:13:03.240> attacker<00:13:04.120> DSes 00:13:04.670 --> 00:13:04.680 align:start position:0% issue which is that if an attacker DSes 00:13:04.680 --> 00:13:07.269 align:start position:0% issue which is that if an attacker DSes the<00:13:04.839> network<00:13:05.639> then<00:13:05.800> the<00:13:06.000> default<00:13:06.720> default 00:13:07.269 --> 00:13:07.279 align:start position:0% the network then the default default 00:13:07.279 --> 00:13:09.910 align:start position:0% the network then the default default state<00:13:07.720> is<00:13:08.000> is<00:13:08.160> for<00:13:08.360> blocks<00:13:08.680> to<00:13:08.839> get<00:13:09.079> processed 00:13:09.910 --> 00:13:09.920 align:start position:0% state is is for blocks to get processed 00:13:09.920 --> 00:13:12.069 align:start position:0% state is is for blocks to get processed and<00:13:10.079> therefore<00:13:10.480> know<00:13:10.880> blocks<00:13:11.240> might<00:13:11.399> end<00:13:11.560> up 00:13:12.069 --> 00:13:12.079 align:start position:0% and therefore know blocks might end up 00:13:12.079 --> 00:13:13.430 align:start position:0% and therefore know blocks might end up might<00:13:12.240> end<00:13:12.399> up<00:13:12.560> Surviving<00:13:13.079> whatever<00:13:13.320> the 00:13:13.430 --> 00:13:13.440 align:start position:0% might end up Surviving whatever the 00:13:13.440 --> 00:13:15.069 align:start position:0% might end up Surviving whatever the entire<00:13:13.720> challenge<00:13:14.040> period<00:13:14.440> is<00:13:14.639> without 00:13:15.069 --> 00:13:15.079 align:start position:0% entire challenge period is without 00:13:15.079 --> 00:13:16.470 align:start position:0% entire challenge period is without without<00:13:15.279> getting<00:13:15.519> challenged<00:13:16.040> even<00:13:16.240> if 00:13:16.470 --> 00:13:16.480 align:start position:0% without getting challenged even if 00:13:16.480 --> 00:13:17.750 align:start position:0% without getting challenged even if there's<00:13:16.800> actually<00:13:17.079> something<00:13:17.320> wrong<00:13:17.519> with 00:13:17.750 --> 00:13:17.760 align:start position:0% there's actually something wrong with 00:13:17.760 --> 00:13:19.550 align:start position:0% there's actually something wrong with and<00:13:17.800> then<00:13:17.920> if<00:13:18.000> you<00:13:18.079> have<00:13:18.480> an<00:13:18.680> invalid 00:13:19.550 --> 00:13:19.560 align:start position:0% and then if you have an invalid 00:13:19.560 --> 00:13:20.949 align:start position:0% and then if you have an invalid transition<00:13:20.000> that's<00:13:20.120> only<00:13:20.480> discovered<00:13:20.800> much 00:13:20.949 --> 00:13:20.959 align:start position:0% transition that's only discovered much 00:13:20.959 --> 00:13:22.030 align:start position:0% transition that's only discovered much later<00:13:21.279> then<00:13:21.399> the<00:13:21.519> effects<00:13:21.760> of<00:13:21.880> that 00:13:22.030 --> 00:13:22.040 align:start position:0% later then the effects of that 00:13:22.040 --> 00:13:23.550 align:start position:0% later then the effects of that transition<00:13:22.440> could<00:13:22.560> have<00:13:22.720> propagated<00:13:23.160> to<00:13:23.320> many 00:13:23.550 --> 00:13:23.560 align:start position:0% transition could have propagated to many 00:13:23.560 --> 00:13:25.030 align:start position:0% transition could have propagated to many many<00:13:23.800> things<00:13:24.040> and<00:13:24.440> you<00:13:24.519> know<00:13:24.680> we<00:13:24.800> might<00:13:24.920> have 00:13:25.030 --> 00:13:25.040 align:start position:0% many things and you know we might have 00:13:25.040 --> 00:13:26.750 align:start position:0% many things and you know we might have to<00:13:25.120> roll<00:13:25.360> back<00:13:25.519> like<00:13:25.800> 100,000<00:13:26.199> blocks<00:13:26.519> if<00:13:26.600> you 00:13:26.750 --> 00:13:26.760 align:start position:0% to roll back like 100,000 blocks if you 00:13:26.760 --> 00:13:29.670 align:start position:0% to roll back like 100,000 blocks if you want<00:13:26.920> to<00:13:27.880> uh<00:13:28.399> kind<00:13:28.519> of<00:13:28.680> fix<00:13:28.880> that 00:13:29.670 --> 00:13:29.680 align:start position:0% want to uh kind of fix that 00:13:29.680 --> 00:13:32.310 align:start position:0% want to uh kind of fix that uh<00:13:29.760> and<00:13:29.880> so<00:13:30.040> that's<00:13:30.199> kind<00:13:30.320> of<00:13:30.519> like<00:13:31.000> bad<00:13:31.920> yeah 00:13:32.310 --> 00:13:32.320 align:start position:0% uh and so that's kind of like bad yeah 00:13:32.320 --> 00:13:34.230 align:start position:0% uh and so that's kind of like bad yeah so<00:13:32.600> somewhat<00:13:33.000> the<00:13:33.160> somewhat<00:13:33.560> more<00:13:33.880> stable 00:13:34.230 --> 00:13:34.240 align:start position:0% so somewhat the somewhat more stable 00:13:34.240 --> 00:13:36.110 align:start position:0% so somewhat the somewhat more stable algorithm<00:13:34.920> for<00:13:35.160> dealing<00:13:35.519> with<00:13:35.639> this<00:13:35.880> problem 00:13:36.110 --> 00:13:36.120 align:start position:0% algorithm for dealing with this problem 00:13:36.120 --> 00:13:39.350 align:start position:0% algorithm for dealing with this problem is<00:13:36.240> this<00:13:36.440> jury<00:13:36.720> selection<00:13:37.360> approach<00:13:38.360> so<00:13:39.079> idea 00:13:39.350 --> 00:13:39.360 align:start position:0% is this jury selection approach so idea 00:13:39.360 --> 00:13:41.829 align:start position:0% is this jury selection approach so idea behind<00:13:39.560> jury<00:13:39.880> selection<00:13:40.440> is<00:13:40.800> that<00:13:41.279> let's<00:13:41.519> say 00:13:41.829 --> 00:13:41.839 align:start position:0% behind jury selection is that let's say 00:13:41.839 --> 00:13:45.590 align:start position:0% behind jury selection is that let's say that<00:13:42.279> okay<00:13:42.760> I<00:13:42.920> mind<00:13:43.240> this<00:13:43.440> Edge<00:13:44.440> then<00:13:45.440> what<00:13:45.519> the 00:13:45.590 --> 00:13:45.600 align:start position:0% that okay I mind this Edge then what the 00:13:45.600 --> 00:13:48.389 align:start position:0% that okay I mind this Edge then what the header<00:13:45.880> CH<00:13:46.600> so<00:13:46.959> then<00:13:47.399> what<00:13:47.519> the<00:13:47.639> protocol<00:13:48.120> says 00:13:48.389 --> 00:13:48.399 align:start position:0% header CH so then what the protocol says 00:13:48.399 --> 00:13:51.550 align:start position:0% header CH so then what the protocol says is<00:13:48.800> okay<00:13:49.360> from<00:13:49.600> every<00:13:50.240> from<00:13:50.639> from<00:13:51.000> randomly 00:13:51.550 --> 00:13:51.560 align:start position:0% is okay from every from from randomly 00:13:51.560 --> 00:13:53.230 align:start position:0% is okay from every from from randomly from<00:13:51.839> all<00:13:51.959> of<00:13:52.120> these<00:13:52.600> all<00:13:52.800> these<00:13:52.920> little 00:13:53.230 --> 00:13:53.240 align:start position:0% from all of these all these little 00:13:53.240 --> 00:13:55.470 align:start position:0% from all of these all these little substates<00:13:53.880> together<00:13:54.560> I'm<00:13:54.720> going<00:13:54.880> to<00:13:55.040> randomly 00:13:55.470 --> 00:13:55.480 align:start position:0% substates together I'm going to randomly 00:13:55.480 --> 00:13:58.030 align:start position:0% substates together I'm going to randomly select<00:13:55.839> you<00:13:55.920> know<00:13:56.279> 200<00:13:56.560> noes<00:13:57.079> Bas<00:13:57.399> B<00:13:57.680> weighted 00:13:58.030 --> 00:13:58.040 align:start position:0% select you know 200 noes Bas B weighted 00:13:58.040 --> 00:14:00.030 align:start position:0% select you know 200 noes Bas B weighted by<00:13:58.199> stake<00:13:58.800> so<00:13:59.160> this<00:13:59.279> is<00:13:59.399> a<00:13:59.519> proof<00:13:59.680> of<00:13:59.800> stake 00:14:00.030 --> 00:14:00.040 align:start position:0% by stake so this is a proof of stake 00:14:00.040 --> 00:14:01.350 align:start position:0% by stake so this is a proof of stake mechanism<00:14:00.480> there's<00:14:00.680> actually<00:14:00.959> no<00:14:01.120> way<00:14:01.240> to 00:14:01.350 --> 00:14:01.360 align:start position:0% mechanism there's actually no way to 00:14:01.360 --> 00:14:02.670 align:start position:0% mechanism there's actually no way to translate<00:14:01.759> it<00:14:01.880> into<00:14:02.040> a<00:14:02.120> proof<00:14:02.279> of<00:14:02.399> work 00:14:02.670 --> 00:14:02.680 align:start position:0% translate it into a proof of work 00:14:02.680 --> 00:14:05.389 align:start position:0% translate it into a proof of work Paradigm<00:14:03.560> which<00:14:03.920> which<00:14:04.720> is<00:14:04.920> actually<00:14:05.199> by<00:14:05.320> the 00:14:05.389 --> 00:14:05.399 align:start position:0% Paradigm which which is actually by the 00:14:05.399 --> 00:14:07.069 align:start position:0% Paradigm which which is actually by the way<00:14:05.560> another<00:14:05.800> reason<00:14:06.079> why<00:14:06.279> proof<00:14:06.480> of<00:14:06.600> stake<00:14:06.800> is 00:14:07.069 --> 00:14:07.079 align:start position:0% way another reason why proof of stake is 00:14:07.079 --> 00:14:10.350 align:start position:0% way another reason why proof of stake is superior<00:14:08.079> but<00:14:08.800> so<00:14:09.279> the<00:14:09.399> idea<00:14:09.639> is<00:14:09.759> you<00:14:10.040> weighted 00:14:10.350 --> 00:14:10.360 align:start position:0% superior but so the idea is you weighted 00:14:10.360 --> 00:14:12.629 align:start position:0% superior but so the idea is you weighted by<00:14:10.519> Stak<00:14:10.839> you<00:14:11.040> randomly<00:14:11.519> choose<00:14:11.880> some<00:14:12.279> 200 00:14:12.629 --> 00:14:12.639 align:start position:0% by Stak you randomly choose some 200 00:14:12.639 --> 00:14:16.110 align:start position:0% by Stak you randomly choose some 200 nodes<00:14:13.639> and<00:14:14.279> th<00:14:14.560> and<00:14:14.720> those<00:14:14.920> two<00:14:15.639> and<00:14:15.839> basically 00:14:16.110 --> 00:14:16.120 align:start position:0% nodes and th and those two and basically 00:14:16.120 --> 00:14:18.430 align:start position:0% nodes and th and those two and basically a<00:14:16.240> majority<00:14:16.600> of<00:14:16.759> those<00:14:17.079> 200<00:14:17.360> nodes<00:14:18.079> have<00:14:18.240> to 00:14:18.430 --> 00:14:18.440 align:start position:0% a majority of those 200 nodes have to 00:14:18.440 --> 00:14:19.949 align:start position:0% a majority of those 200 nodes have to sign<00:14:18.759> on<00:14:18.920> the<00:14:19.079> ass<00:14:19.199> sign<00:14:19.320> for<00:14:19.480> the<00:14:19.560> blocks 00:14:19.949 --> 00:14:19.959 align:start position:0% sign on the ass sign for the blocks 00:14:19.959 --> 00:14:22.269 align:start position:0% sign on the ass sign for the blocks validity<00:14:20.959> and<00:14:21.160> the<00:14:21.320> way<00:14:21.519> that<00:14:21.680> the<00:14:22.040> and<00:14:22.160> the 00:14:22.269 --> 00:14:22.279 align:start position:0% validity and the way that the and the 00:14:22.279 --> 00:14:23.670 align:start position:0% validity and the way that the and the way<00:14:22.399> that<00:14:22.519> those<00:14:22.800> 200<00:14:22.920> nodes<00:14:23.240> know<00:14:23.440> if<00:14:23.560> the 00:14:23.670 --> 00:14:23.680 align:start position:0% way that those 200 nodes know if the 00:14:23.680 --> 00:14:25.069 align:start position:0% way that those 200 nodes know if the block<00:14:23.920> is<00:14:24.079> valid<00:14:24.440> because<00:14:24.560> you<00:14:24.639> know<00:14:24.959> there 00:14:25.069 --> 00:14:25.079 align:start position:0% block is valid because you know there 00:14:25.079 --> 00:14:26.550 align:start position:0% block is valid because you know there might<00:14:25.240> be<00:14:25.320> a<00:14:25.399> node<00:14:25.680> from<00:14:25.880> here<00:14:26.120> and<00:14:26.279> that<00:14:26.440> and 00:14:26.550 --> 00:14:26.560 align:start position:0% might be a node from here and that and 00:14:26.560 --> 00:14:27.949 align:start position:0% might be a node from here and that and that<00:14:26.680> node<00:14:26.959> might<00:14:27.120> not<00:14:27.240> be<00:14:27.399> keeping<00:14:27.639> track<00:14:27.839> of 00:14:27.949 --> 00:14:27.959 align:start position:0% that node might not be keeping track of 00:14:27.959 --> 00:14:30.310 align:start position:0% that node might not be keeping track of the<00:14:28.079> state<00:14:28.320> at<00:14:28.440> all<00:14:29.240> the<00:14:29.320> way<00:14:29.480> you<00:14:29.639> do<00:14:29.880> that<00:14:30.120> is 00:14:30.310 --> 00:14:30.320 align:start position:0% the state at all the way you do that is 00:14:30.320 --> 00:14:32.710 align:start position:0% the state at all the way you do that is that<00:14:31.079> the<00:14:31.199> voter<00:14:31.519> provides<00:14:31.839> the<00:14:32.000> block<00:14:32.600> you 00:14:32.710 --> 00:14:32.720 align:start position:0% that the voter provides the block you 00:14:32.720 --> 00:14:35.030 align:start position:0% that the voter provides the block you know<00:14:32.920> with<00:14:33.079> the<00:14:33.199> state<00:14:33.480> route<00:14:34.040> transactions 00:14:35.030 --> 00:14:35.040 align:start position:0% know with the state route transactions 00:14:35.040 --> 00:14:36.790 align:start position:0% know with the state route transactions but<00:14:35.199> you<00:14:35.320> know<00:14:35.639> right<00:14:35.800> now<00:14:35.959> in<00:14:36.120> ethereum<00:14:36.639> when 00:14:36.790 --> 00:14:36.800 align:start position:0% but you know right now in ethereum when 00:14:36.800 --> 00:14:38.110 align:start position:0% but you know right now in ethereum when over<00:14:37.120> the<00:14:37.199> network<00:14:37.560> the<00:14:37.680> thing<00:14:37.839> that<00:14:37.959> gets 00:14:38.110 --> 00:14:38.120 align:start position:0% over the network the thing that gets 00:14:38.120 --> 00:14:40.470 align:start position:0% over the network the thing that gets sent<00:14:38.480> is<00:14:38.639> block<00:14:38.959> header<00:14:39.279> plus<00:14:39.519> transactions 00:14:40.470 --> 00:14:40.480 align:start position:0% sent is block header plus transactions 00:14:40.480 --> 00:14:41.590 align:start position:0% sent is block header plus transactions but<00:14:40.639> here<00:14:40.839> the<00:14:40.959> thing<00:14:41.120> that's<00:14:41.279> going<00:14:41.360> to<00:14:41.480> get 00:14:41.590 --> 00:14:41.600 align:start position:0% but here the thing that's going to get 00:14:41.600 --> 00:14:44.430 align:start position:0% but here the thing that's going to get sent<00:14:41.920> is<00:14:42.079> block<00:14:42.360> header<00:14:42.959> plus<00:14:43.440> transactions 00:14:44.430 --> 00:14:44.440 align:start position:0% sent is block header plus transactions 00:14:44.440 --> 00:14:46.790 align:start position:0% sent is block header plus transactions plus<00:14:45.279> the<00:14:45.720> whatever<00:14:46.000> subset<00:14:46.320> of<00:14:46.440> the<00:14:46.560> state 00:14:46.790 --> 00:14:46.800 align:start position:0% plus the whatever subset of the state 00:14:46.800 --> 00:14:48.430 align:start position:0% plus the whatever subset of the state ends<00:14:47.000> up<00:14:47.320> being<00:14:47.519> manipulated<00:14:48.000> during<00:14:48.279> that 00:14:48.430 --> 00:14:48.440 align:start position:0% ends up being manipulated during that 00:14:48.440 --> 00:14:50.110 align:start position:0% ends up being manipulated during that block<00:14:49.000> and<00:14:49.120> then<00:14:49.279> this<00:14:49.440> whole<00:14:49.600> chunk<00:14:49.959> by 00:14:50.110 --> 00:14:50.120 align:start position:0% block and then this whole chunk by 00:14:50.120 --> 00:14:51.910 align:start position:0% block and then this whole chunk by itself<00:14:50.480> can<00:14:50.600> be<00:14:50.800> Val<00:14:51.040> can<00:14:51.120> be<00:14:51.279> validated<00:14:51.759> even 00:14:51.910 --> 00:14:51.920 align:start position:0% itself can be Val can be validated even 00:14:51.920 --> 00:14:53.350 align:start position:0% itself can be Val can be validated even by<00:14:52.040> someone<00:14:52.240> who<00:14:52.320> has<00:14:52.480> no<00:14:52.600> prior<00:14:52.880> information 00:14:53.350 --> 00:14:53.360 align:start position:0% by someone who has no prior information 00:14:53.360 --> 00:14:55.670 align:start position:0% by someone who has no prior information at<00:14:53.480> all<00:14:54.320> yeah<00:14:54.639> and<00:14:54.920> kind<00:14:55.000> of<00:14:55.120> theoretically 00:14:55.670 --> 00:14:55.680 align:start position:0% at all yeah and kind of theoretically 00:14:55.680 --> 00:14:56.990 align:start position:0% at all yeah and kind of theoretically that<00:14:55.839> has<00:14:56.079> like<00:14:56.240> no<00:14:56.440> cheating<00:14:56.800> in<00:14:56.880> the 00:14:56.990 --> 00:14:57.000 align:start position:0% that has like no cheating in the 00:14:57.000 --> 00:14:58.269 align:start position:0% that has like no cheating in the National<00:14:57.399> room<00:14:57.600> because<00:14:57.759> it's<00:14:57.920> basically 00:14:58.269 --> 00:14:58.279 align:start position:0% National room because it's basically 00:14:58.279 --> 00:15:00.230 align:start position:0% National room because it's basically like<00:14:58.600> foring<00:14:59.199> a<00:14:59.320> challenge<00:14:59.680> response<00:15:00.040> on 00:15:00.230 --> 00:15:00.240 align:start position:0% like foring a challenge response on 00:15:00.240 --> 00:15:03.590 align:start position:0% like foring a challenge response on every<00:15:00.560> block<00:15:01.560> kind<00:15:01.720> of<00:15:02.480> yeah<00:15:02.720> so<00:15:03.279> like<00:15:03.440> the 00:15:03.590 --> 00:15:03.600 align:start position:0% every block kind of yeah so like the 00:15:03.600 --> 00:15:06.550 align:start position:0% every block kind of yeah so like the idea<00:15:03.839> is<00:15:04.000> you<00:15:04.320> have<00:15:05.320> in<00:15:05.440> order<00:15:05.959> in<00:15:06.079> order<00:15:06.320> for 00:15:06.550 --> 00:15:06.560 align:start position:0% idea is you have in order in order for 00:15:06.560 --> 00:15:08.110 align:start position:0% idea is you have in order in order for an<00:15:06.720> attacker<00:15:07.079> to<00:15:07.199> be<00:15:07.320> able<00:15:07.480> to<00:15:07.639> successfully 00:15:08.110 --> 00:15:08.120 align:start position:0% an attacker to be able to successfully 00:15:08.120 --> 00:15:09.749 align:start position:0% an attacker to be able to successfully cheat<00:15:08.360> on<00:15:08.519> this<00:15:08.680> thing<00:15:08.959> just<00:15:09.160> purely<00:15:09.519> by 00:15:09.749 --> 00:15:09.759 align:start position:0% cheat on this thing just purely by 00:15:09.759 --> 00:15:11.870 align:start position:0% cheat on this thing just purely by statistics<00:15:10.720> the<00:15:10.920> attacker<00:15:11.320> has<00:15:11.440> to<00:15:11.639> have 00:15:11.870 --> 00:15:11.880 align:start position:0% statistics the attacker has to have 00:15:11.880 --> 00:15:13.749 align:start position:0% statistics the attacker has to have something<00:15:12.160> like<00:15:12.279> you<00:15:12.360> know<00:15:12.519> 30<00:15:12.800> or<00:15:12.920> 40%<00:15:13.519> of<00:15:13.639> the 00:15:13.749 --> 00:15:13.759 align:start position:0% something like you know 30 or 40% of the 00:15:13.759 --> 00:15:15.749 align:start position:0% something like you know 30 or 40% of the entire<00:15:14.519> the<00:15:14.600> entire<00:15:14.880> active<00:15:15.160> stake<00:15:15.360> in<00:15:15.480> the 00:15:15.749 --> 00:15:15.759 align:start position:0% entire the entire active stake in the 00:15:15.759 --> 00:15:18.110 align:start position:0% entire the entire active stake in the network<00:15:16.759> so<00:15:16.920> you<00:15:17.079> have<00:15:17.279> sort<00:15:17.440> of<00:15:17.600> the<00:15:17.720> benefit 00:15:18.110 --> 00:15:18.120 align:start position:0% network so you have sort of the benefit 00:15:18.120 --> 00:15:19.870 align:start position:0% network so you have sort of the benefit of<00:15:18.240> you<00:15:18.360> know<00:15:18.480> only<00:15:18.920> 200<00:15:19.120> nodes<00:15:19.440> validating 00:15:19.870 --> 00:15:19.880 align:start position:0% of you know only 200 nodes validating 00:15:19.880 --> 00:15:22.230 align:start position:0% of you know only 200 nodes validating each<00:15:20.079> block<00:15:20.639> but<00:15:21.240> without<00:15:21.519> the<00:15:21.720> cost<00:15:21.920> of<00:15:22.079> their 00:15:22.230 --> 00:15:22.240 align:start position:0% each block but without the cost of their 00:15:22.240 --> 00:15:24.189 align:start position:0% each block but without the cost of their only<00:15:22.519> being<00:15:22.800> sort<00:15:22.959> of<00:15:23.279> 200<00:15:23.440> nodes<00:15:23.800> protecting 00:15:24.189 --> 00:15:24.199 align:start position:0% only being sort of 200 nodes protecting 00:15:24.199 --> 00:15:26.150 align:start position:0% only being sort of 200 nodes protecting the<00:15:24.360> system<00:15:24.759> because<00:15:25.399> every<00:15:25.600> node<00:15:25.839> is<00:15:25.959> like 00:15:26.150 --> 00:15:26.160 align:start position:0% the system because every node is like 00:15:26.160 --> 00:15:27.790 align:start position:0% the system because every node is like statistically<00:15:26.720> protecting<00:15:27.160> the<00:15:27.320> system<00:15:27.600> even 00:15:27.790 --> 00:15:27.800 align:start position:0% statistically protecting the system even 00:15:27.800 --> 00:15:29.350 align:start position:0% statistically protecting the system even though<00:15:27.880> it's<00:15:28.040> not<00:15:28.240> actually<00:15:28.480> protecting<00:15:29.199> each 00:15:29.350 --> 00:15:29.360 align:start position:0% though it's not actually protecting each 00:15:29.360 --> 00:15:31.509 align:start position:0% though it's not actually protecting each and<00:15:29.519> every<00:15:29.759> time<00:15:30.759> yeah<00:15:30.880> so<00:15:31.000> we<00:15:31.120> have<00:15:31.279> like<00:15:31.360> a 00:15:31.509 --> 00:15:31.519 align:start position:0% and every time yeah so we have like a 00:15:31.519 --> 00:15:33.230 align:start position:0% and every time yeah so we have like a probabilistic<00:15:32.279> rather<00:15:32.480> than<00:15:32.680> deterministic 00:15:33.230 --> 00:15:33.240 align:start position:0% probabilistic rather than deterministic 00:15:33.240 --> 00:15:35.430 align:start position:0% probabilistic rather than deterministic guarantee<00:15:33.759> but<00:15:33.839> it's<00:15:34.040> still<00:15:35.040> quite<00:15:35.279> good 00:15:35.430 --> 00:15:35.440 align:start position:0% guarantee but it's still quite good 00:15:35.440 --> 00:15:36.430 align:start position:0% guarantee but it's still quite good because<00:15:35.600> you<00:15:35.680> can<00:15:35.800> increase<00:15:36.079> the<00:15:36.160> number<00:15:36.319> of 00:15:36.430 --> 00:15:36.440 align:start position:0% because you can increase the number of 00:15:36.440 --> 00:15:38.150 align:start position:0% because you can increase the number of nodes<00:15:36.680> required<00:15:37.319> and<00:15:37.440> that<00:15:37.560> will<00:15:37.759> make<00:15:38.040> the 00:15:38.150 --> 00:15:38.160 align:start position:0% nodes required and that will make the 00:15:38.160 --> 00:15:41.509 align:start position:0% nodes required and that will make the amount<00:15:38.360> of<00:15:38.839> stake<00:15:39.120> required<00:15:39.519> to<00:15:40.360> to<00:15:40.519> attack<00:15:40.800> it 00:15:41.509 --> 00:15:41.519 align:start position:0% amount of stake required to to attack it 00:15:41.519 --> 00:15:42.949 align:start position:0% amount of stake required to to attack it lar<00:15:42.000> basically<00:15:42.279> the<00:15:42.399> probability<00:15:42.800> of<00:15:42.839> that 00:15:42.949 --> 00:15:42.959 align:start position:0% lar basically the probability of that 00:15:42.959 --> 00:15:45.069 align:start position:0% lar basically the probability of that things<00:15:43.120> growing<00:15:43.480> up<00:15:43.639> is<00:15:43.759> like<00:15:44.079> is<00:15:44.360> negatively 00:15:45.069 --> 00:15:45.079 align:start position:0% things growing up is like is negatively 00:15:45.079 --> 00:15:47.150 align:start position:0% things growing up is like is negatively exponential<00:15:45.639> in<00:15:46.040> in<00:15:46.160> the<00:15:46.279> number<00:15:46.519> of<00:15:46.800> nodes 00:15:47.150 --> 00:15:47.160 align:start position:0% exponential in in the number of nodes 00:15:47.160 --> 00:15:50.269 align:start position:0% exponential in in the number of nodes involved<00:15:47.839> yeah<00:15:48.399> yeah 00:15:50.269 --> 00:15:50.279 align:start position:0% involved yeah yeah 00:15:50.279 --> 00:15:52.080 align:start position:0% involved yeah yeah so<00:15:51.279> that's<00:15:51.519> one 00:15:52.080 --> 00:15:52.090 align:start position:0% so that's one 00:15:52.090 --> 00:15:53.790 align:start position:0% so that's one [Applause] 00:15:53.790 --> 00:15:53.800 align:start position:0% [Applause] 00:15:53.800 --> 00:15:57.470 align:start position:0% [Applause] of<00:15:54.800> so<00:15:55.040> that's<00:15:55.360> the<00:15:55.560> sort<00:15:55.920> of<00:15:56.920> so<00:15:57.120> the<00:15:57.279> last 00:15:57.470 --> 00:15:57.480 align:start position:0% of so that's the sort of so the last 00:15:57.480 --> 00:15:59.269 align:start position:0% of so that's the sort of so the last thing<00:15:57.720> was<00:15:57.880> the<00:15:58.000> hybrid<00:15:58.319> ke<00:15:58.680> approach<00:15:59.040> which 00:15:59.269 --> 00:15:59.279 align:start position:0% thing was the hybrid ke approach which 00:15:59.279 --> 00:16:01.110 align:start position:0% thing was the hybrid ke approach which is<00:15:59.839> need<00:16:00.040> a<00:16:00.240> protocol<00:16:00.600> for<00:16:00.720> growing<00:16:01.040> and 00:16:01.110 --> 00:16:01.120 align:start position:0% is need a protocol for growing and 00:16:01.120 --> 00:16:02.949 align:start position:0% is need a protocol for growing and drinking<00:16:01.560> the<00:16:01.759> thing<00:16:02.240> so<00:16:02.399> you<00:16:02.480> know<00:16:02.639> you<00:16:02.759> could 00:16:02.949 --> 00:16:02.959 align:start position:0% drinking the thing so you know you could 00:16:02.959 --> 00:16:04.430 align:start position:0% drinking the thing so you know you could fix<00:16:03.319> you<00:16:03.399> could<00:16:03.560> just<00:16:03.720> fix<00:16:03.920> it<00:16:04.040> to<00:16:04.160> 12 00:16:04.430 --> 00:16:04.440 align:start position:0% fix you could just fix it to 12 00:16:04.440 --> 00:16:06.629 align:start position:0% fix you could just fix it to 12 dimensions<00:16:04.880> and<00:16:05.040> say<00:16:05.240> okay<00:16:05.399> there's<00:16:05.600> 496 00:16:06.629 --> 00:16:06.639 align:start position:0% dimensions and say okay there's 496 00:16:06.639 --> 00:16:08.590 align:start position:0% dimensions and say okay there's 496 substates<00:16:07.639> but<00:16:07.800> the<00:16:07.959> problem<00:16:08.199> is<00:16:08.399> that<00:16:08.519> you 00:16:08.590 --> 00:16:08.600 align:start position:0% substates but the problem is that you 00:16:08.600 --> 00:16:10.629 align:start position:0% substates but the problem is that you know<00:16:08.800> what<00:16:08.959> have<00:16:09.279> first<00:16:09.440> of<00:16:09.600> all<00:16:10.160> initially 00:16:10.629 --> 00:16:10.639 align:start position:0% know what have first of all initially 00:16:10.639 --> 00:16:13.230 align:start position:0% know what have first of all initially that<00:16:10.800> 496<00:16:11.759> is<00:16:12.000> might<00:16:12.319> might<00:16:12.480> be<00:16:12.680> way<00:16:12.839> too 00:16:13.230 --> 00:16:13.240 align:start position:0% that 496 is might might be way too 00:16:13.240 --> 00:16:15.670 align:start position:0% that 496 is might might be way too sparse<00:16:14.240> but<00:16:14.399> and<00:16:14.560> then<00:16:14.759> eventually<00:16:15.319> it<00:16:15.440> might 00:16:15.670 --> 00:16:15.680 align:start position:0% sparse but and then eventually it might 00:16:15.680 --> 00:16:18.269 align:start position:0% sparse but and then eventually it might end<00:16:15.880> up<00:16:16.040> not<00:16:16.240> being<00:16:16.519> enough<00:16:17.319> and<00:16:17.440> so<00:16:17.680> you<00:16:17.839> need 00:16:18.269 --> 00:16:18.279 align:start position:0% end up not being enough and so you need 00:16:18.279 --> 00:16:19.550 align:start position:0% end up not being enough and so you need one<00:16:18.440> thing<00:16:18.600> that<00:16:18.720> needs<00:16:18.880> to<00:16:19.000> be<00:16:19.120> figured<00:16:19.399> out 00:16:19.550 --> 00:16:19.560 align:start position:0% one thing that needs to be figured out 00:16:19.560 --> 00:16:21.069 align:start position:0% one thing that needs to be figured out is<00:16:19.720> some<00:16:19.880> kind<00:16:20.000> of<00:16:20.160> mechanism<00:16:20.560> for<00:16:20.720> growing 00:16:21.069 --> 00:16:21.079 align:start position:0% is some kind of mechanism for growing 00:16:21.079 --> 00:16:23.350 align:start position:0% is some kind of mechanism for growing the<00:16:21.279> graph<00:16:22.000> so<00:16:22.199> one<00:16:22.399> option<00:16:22.680> is<00:16:22.839> to<00:16:23.079> just<00:16:23.199> you 00:16:23.350 --> 00:16:23.360 align:start position:0% the graph so one option is to just you 00:16:23.360 --> 00:16:25.110 align:start position:0% the graph so one option is to just you know<00:16:23.920> if<00:16:24.000> it<00:16:24.199> gets<00:16:24.399> big<00:16:24.639> enough<00:16:24.920> then 00:16:25.110 --> 00:16:25.120 align:start position:0% know if it gets big enough then 00:16:25.120 --> 00:16:27.670 align:start position:0% know if it gets big enough then eventually<00:16:25.519> you<00:16:25.680> add<00:16:25.800> a<00:16:26.160> dimension<00:16:27.160> so<00:16:27.480> then 00:16:27.670 --> 00:16:27.680 align:start position:0% eventually you add a dimension so then 00:16:27.680 --> 00:16:28.990 align:start position:0% eventually you add a dimension so then if<00:16:27.800> you're<00:16:28.079> if<00:16:28.160> you<00:16:28.240> just<00:16:28.360> sort<00:16:28.519> of<00:16:28.600> keep<00:16:28.720> on 00:16:28.990 --> 00:16:29.000 align:start position:0% if you're if you just sort of keep on 00:16:29.000 --> 00:16:30.550 align:start position:0% if you're if you just sort of keep on adding<00:16:29.240> Dimensions<00:16:29.800> the<00:16:29.959> choice<00:16:30.279> that<00:16:30.360> you 00:16:30.550 --> 00:16:30.560 align:start position:0% adding Dimensions the choice that you 00:16:30.560 --> 00:16:32.790 align:start position:0% adding Dimensions the choice that you have<00:16:30.759> is<00:16:31.079> first<00:16:31.240> of<00:16:31.399> all<00:16:32.079> when<00:16:32.199> you<00:16:32.319> add<00:16:32.480> a<00:16:32.600> new 00:16:32.790 --> 00:16:32.800 align:start position:0% have is first of all when you add a new 00:16:32.800 --> 00:16:34.749 align:start position:0% have is first of all when you add a new dimension<00:16:33.279> do<00:16:33.399> you<00:16:33.600> just<00:16:34.160> do<00:16:34.279> you<00:16:34.440> make<00:16:34.639> the 00:16:34.749 --> 00:16:34.759 align:start position:0% dimension do you just do you make the 00:16:34.759 --> 00:16:36.629 align:start position:0% dimension do you just do you make the new<00:16:34.959> cubes<00:16:35.319> empty<00:16:35.720> by<00:16:35.880> default<00:16:36.240> and<00:16:36.360> sort<00:16:36.519> of 00:16:36.629 --> 00:16:36.639 align:start position:0% new cubes empty by default and sort of 00:16:36.639 --> 00:16:38.829 align:start position:0% new cubes empty by default and sort of just<00:16:36.759> use<00:16:37.000> inceptive<00:16:37.480> mechanisms<00:16:38.000> to<00:16:38.360> to<00:16:38.720> to 00:16:38.829 --> 00:16:38.839 align:start position:0% just use inceptive mechanisms to to to 00:16:38.839 --> 00:16:40.790 align:start position:0% just use inceptive mechanisms to to to try<00:16:38.959> and<00:16:39.079> subsidize<00:16:39.600> new<00:16:39.800> people<00:16:40.360> being<00:16:40.639> on 00:16:40.790 --> 00:16:40.800 align:start position:0% try and subsidize new people being on 00:16:40.800 --> 00:16:42.389 align:start position:0% try and subsidize new people being on those<00:16:41.000> cubes<00:16:41.279> instead<00:16:41.519> of<00:16:41.600> on<00:16:41.759> other<00:16:42.120> or<00:16:42.279> on 00:16:42.389 --> 00:16:42.399 align:start position:0% those cubes instead of on other or on 00:16:42.399 --> 00:16:43.470 align:start position:0% those cubes instead of on other or on those<00:16:42.560> vertices<00:16:42.920> instead<00:16:43.120> of<00:16:43.160> on<00:16:43.319> other 00:16:43.470 --> 00:16:43.480 align:start position:0% those vertices instead of on other 00:16:43.480 --> 00:16:45.550 align:start position:0% those vertices instead of on other vertices<00:16:44.079> or<00:16:44.199> you<00:16:44.319> could<00:16:44.480> wait<00:16:44.680> for<00:16:44.959> the<00:16:45.240> each 00:16:45.550 --> 00:16:45.560 align:start position:0% vertices or you could wait for the each 00:16:45.560 --> 00:16:47.389 align:start position:0% vertices or you could wait for the each each<00:16:45.720> substate<00:16:46.120> to<00:16:46.240> have<00:16:46.399> twice<00:16:46.680> as<00:16:46.839> many 00:16:47.389 --> 00:16:47.399 align:start position:0% each substate to have twice as many 00:16:47.399 --> 00:16:49.030 align:start position:0% each substate to have twice as many nodes<00:16:47.880> as<00:16:48.079> necessary<00:16:48.440> and<00:16:48.560> split<00:16:48.800> each<00:16:48.920> one 00:16:49.030 --> 00:16:49.040 align:start position:0% nodes as necessary and split each one 00:16:49.040 --> 00:16:51.470 align:start position:0% nodes as necessary and split each one into<00:16:49.240> two<00:16:49.519> and<00:16:49.800> basically<00:16:50.800> uh<00:16:51.120> add<00:16:51.279> another 00:16:51.470 --> 00:16:51.480 align:start position:0% into two and basically uh add another 00:16:51.480 --> 00:16:53.430 align:start position:0% into two and basically uh add another dimension<00:16:51.759> to<00:16:51.880> the<00:16:51.959> hyper<00:16:52.240> he<00:16:52.759> yeah<00:16:53.199> yeah<00:16:53.319> so 00:16:53.430 --> 00:16:53.440 align:start position:0% dimension to the hyper he yeah yeah so 00:16:53.440 --> 00:16:54.790 align:start position:0% dimension to the hyper he yeah yeah so the<00:16:53.560> choice<00:16:53.839> is<00:16:54.000> you<00:16:54.120> know<00:16:54.199> do<00:16:54.279> you<00:16:54.360> start<00:16:54.519> a 00:16:54.790 --> 00:16:54.800 align:start position:0% the choice is you know do you start a 00:16:54.800 --> 00:16:56.230 align:start position:0% the choice is you know do you start a one<00:16:54.959> empty<00:16:55.279> or<00:16:55.399> do<00:16:55.519> you<00:16:55.680> actually<00:16:55.959> try<00:16:56.120> and 00:16:56.230 --> 00:16:56.240 align:start position:0% one empty or do you actually try and 00:16:56.240 --> 00:16:57.470 align:start position:0% one empty or do you actually try and split<00:16:56.519> them<00:16:56.600> in 00:16:57.470 --> 00:16:57.480 align:start position:0% split them in 00:16:57.480 --> 00:17:00.389 align:start position:0% split them in half<00:16:58.480> um<00:16:59.000> problem<00:16:59.279> with<00:16:59.399> split<00:16:59.759> so<00:17:00.000> splitting 00:17:00.389 --> 00:17:00.399 align:start position:0% half um problem with split so splitting 00:17:00.399 --> 00:17:03.110 align:start position:0% half um problem with split so splitting them<00:17:00.560> in<00:17:00.800> half<00:17:01.560> feels<00:17:02.000> more<00:17:02.240> elegant<00:17:02.959> and 00:17:03.110 --> 00:17:03.120 align:start position:0% them in half feels more elegant and 00:17:03.120 --> 00:17:04.789 align:start position:0% them in half feels more elegant and automatic<00:17:03.560> in<00:17:03.680> some<00:17:03.880> respects<00:17:04.319> the<00:17:04.520> problem 00:17:04.789 --> 00:17:04.799 align:start position:0% automatic in some respects the problem 00:17:04.799 --> 00:17:07.189 align:start position:0% automatic in some respects the problem with<00:17:04.919> it<00:17:05.160> is<00:17:05.439> that<00:17:05.919> you<00:17:06.120> might<00:17:06.400> have<00:17:06.640> daps<00:17:07.079> that 00:17:07.189 --> 00:17:07.199 align:start position:0% with it is that you might have daps that 00:17:07.199 --> 00:17:08.870 align:start position:0% with it is that you might have daps that you<00:17:07.280> know<00:17:07.439> were<00:17:07.760> very<00:17:07.959> tightly<00:17:08.319> connected<00:17:08.760> but 00:17:08.870 --> 00:17:08.880 align:start position:0% you know were very tightly connected but 00:17:08.880 --> 00:17:10.789 align:start position:0% you know were very tightly connected but now<00:17:09.039> they're<00:17:09.199> suddenly<00:17:09.640> much<00:17:09.839> less<00:17:10.079> connected 00:17:10.789 --> 00:17:10.799 align:start position:0% now they're suddenly much less connected 00:17:10.799 --> 00:17:12.510 align:start position:0% now they're suddenly much less connected and<00:17:10.880> so<00:17:11.120> their<00:17:11.319> gas<00:17:11.520> costs<00:17:11.839> suddenly<00:17:12.160> go<00:17:12.319> way 00:17:12.510 --> 00:17:12.520 align:start position:0% and so their gas costs suddenly go way 00:17:12.520 --> 00:17:15.150 align:start position:0% and so their gas costs suddenly go way way<00:17:12.760> up<00:17:13.679> which<00:17:13.799> is<00:17:14.039> kind<00:17:14.199> of<00:17:14.400> annoying<00:17:14.880> for<00:17:15.039> if 00:17:15.150 --> 00:17:15.160 align:start position:0% way up which is kind of annoying for if 00:17:15.160 --> 00:17:17.350 align:start position:0% way up which is kind of annoying for if you're<00:17:15.839> if<00:17:16.120> the<00:17:16.520> because<00:17:16.679> the<00:17:16.799> contracts<00:17:17.160> are 00:17:17.350 --> 00:17:17.360 align:start position:0% you're if the because the contracts are 00:17:17.360 --> 00:17:18.750 align:start position:0% you're if the because the contracts are kind<00:17:17.439> of<00:17:17.559> stupid<00:17:17.839> autonomous<00:17:18.280> agents<00:17:18.559> and 00:17:18.750 --> 00:17:18.760 align:start position:0% kind of stupid autonomous agents and 00:17:18.760 --> 00:17:20.829 align:start position:0% kind of stupid autonomous agents and might<00:17:19.240> they<00:17:19.360> have<00:17:19.520> no<00:17:19.720> way<00:17:20.360> of<00:17:20.559> you<00:17:20.640> know 00:17:20.829 --> 00:17:20.839 align:start position:0% might they have no way of you know 00:17:20.839 --> 00:17:22.870 align:start position:0% might they have no way of you know figuring<00:17:21.199> out<00:17:21.319> how<00:17:21.439> to<00:17:21.600> deal<00:17:21.760> with<00:17:21.880> the 00:17:22.870 --> 00:17:22.880 align:start position:0% figuring out how to deal with the 00:17:22.880 --> 00:17:25.150 align:start position:0% figuring out how to deal with the problem<00:17:23.880> cool<00:17:24.360> so<00:17:24.480> we're<00:17:24.600> going<00:17:24.720> to<00:17:24.799> move<00:17:25.000> to 00:17:25.150 --> 00:17:25.160 align:start position:0% problem cool so we're going to move to 00:17:25.160 --> 00:17:27.549 align:start position:0% problem cool so we're going to move to multichain<00:17:25.839> Sol<00:17:26.839> so<00:17:27.000> the<00:17:27.120> idea<00:17:27.400> with 00:17:27.549 --> 00:17:27.559 align:start position:0% multichain Sol so the idea with 00:17:27.559 --> 00:17:29.230 align:start position:0% multichain Sol so the idea with multi-chain<00:17:28.160> scaling<00:17:28.480> Solutions<00:17:29.039> is<00:17:29.120> that 00:17:29.230 --> 00:17:29.240 align:start position:0% multi-chain scaling Solutions is that 00:17:29.240 --> 00:17:30.950 align:start position:0% multi-chain scaling Solutions is that instead<00:17:29.480> of<00:17:29.679> taking<00:17:30.080> kind<00:17:30.200> of<00:17:30.320> one<00:17:30.520> consensus 00:17:30.950 --> 00:17:30.960 align:start position:0% instead of taking kind of one consensus 00:17:30.960 --> 00:17:32.350 align:start position:0% instead of taking kind of one consensus group<00:17:31.160> with<00:17:31.280> one<00:17:31.400> digal<00:17:31.760> asset<00:17:32.000> and<00:17:32.080> trying<00:17:32.240> to 00:17:32.350 --> 00:17:32.360 align:start position:0% group with one digal asset and trying to 00:17:32.360 --> 00:17:33.710 align:start position:0% group with one digal asset and trying to split<00:17:32.600> it<00:17:32.720> without<00:17:32.919> losing<00:17:33.200> the<00:17:33.360> properties 00:17:33.710 --> 00:17:33.720 align:start position:0% split it without losing the properties 00:17:33.720 --> 00:17:35.270 align:start position:0% split it without losing the properties of<00:17:33.880> it<00:17:34.280> what<00:17:34.400> we<00:17:34.520> do<00:17:34.640> is<00:17:34.720> we<00:17:34.880> take<00:17:35.039> many 00:17:35.270 --> 00:17:35.280 align:start position:0% of it what we do is we take many 00:17:35.280 --> 00:17:36.630 align:start position:0% of it what we do is we take many consensus<00:17:35.720> groups<00:17:36.000> with<00:17:36.160> many<00:17:36.360> different 00:17:36.630 --> 00:17:36.640 align:start position:0% consensus groups with many different 00:17:36.640 --> 00:17:38.510 align:start position:0% consensus groups with many different assets<00:17:37.360> and<00:17:37.480> trying<00:17:37.640> to<00:17:37.799> interoperate<00:17:38.360> them 00:17:38.510 --> 00:17:38.520 align:start position:0% assets and trying to interoperate them 00:17:38.520 --> 00:17:39.909 align:start position:0% assets and trying to interoperate them in<00:17:38.600> order<00:17:38.799> to<00:17:38.960> gain<00:17:39.240> some<00:17:39.360> of<00:17:39.440> the<00:17:39.600> properties 00:17:39.909 --> 00:17:39.919 align:start position:0% in order to gain some of the properties 00:17:39.919 --> 00:17:43.110 align:start position:0% in order to gain some of the properties of<00:17:40.480> scalability<00:17:41.480> um<00:17:42.160> so<00:17:42.440> basically<00:17:42.799> there's 00:17:43.110 --> 00:17:43.120 align:start position:0% of scalability um so basically there's 00:17:43.120 --> 00:17:45.029 align:start position:0% of scalability um so basically there's different<00:17:43.400> types<00:17:43.640> of<00:17:43.919> interoperability<00:17:44.919> you 00:17:45.029 --> 00:17:45.039 align:start position:0% different types of interoperability you 00:17:45.039 --> 00:17:46.510 align:start position:0% different types of interoperability you can<00:17:45.160> have<00:17:45.320> this<00:17:45.600> type<00:17:45.720> of<00:17:45.840> interoperability 00:17:46.510 --> 00:17:46.520 align:start position:0% can have this type of interoperability 00:17:46.520 --> 00:17:49.549 align:start position:0% can have this type of interoperability called<00:17:47.600> uh<00:17:48.600> Atomic 00:17:49.549 --> 00:17:49.559 align:start position:0% called uh Atomic 00:17:49.559 --> 00:17:53.070 align:start position:0% called uh Atomic interoperability<00:17:50.559> um<00:17:51.520> which<00:17:51.840> is<00:17:52.320> basically 00:17:53.070 --> 00:17:53.080 align:start position:0% interoperability um which is basically 00:17:53.080 --> 00:17:57.669 align:start position:0% interoperability um which is basically uh<00:17:53.200> based<00:17:53.440> on<00:17:53.640> this<00:17:54.240> tier<00:17:55.080> Nolan 00:17:57.669 --> 00:17:57.679 align:start position:0% uh based on this tier Nolan 00:17:57.679 --> 00:18:01.470 align:start position:0% uh based on this tier Nolan primitive<00:17:58.679> um<00:17:59.039> which<00:17:59.159> is<00:17:59.480> this<00:17:59.960> a<00:18:00.080> really<00:18:00.240> cool 00:18:01.470 --> 00:18:01.480 align:start position:0% primitive um which is this a really cool 00:18:01.480 --> 00:18:05.230 align:start position:0% primitive um which is this a really cool idea<00:18:02.480> where<00:18:03.120> oh 00:18:05.230 --> 00:18:05.240 align:start position:0% idea where oh 00:18:05.240 --> 00:18:08.789 align:start position:0% idea where oh no<00:18:06.240> um<00:18:06.559> You'<00:18:06.840> basically<00:18:07.200> make<00:18:07.360> a<00:18:07.640> contract<00:18:08.640> on 00:18:08.789 --> 00:18:08.799 align:start position:0% no um You' basically make a contract on 00:18:08.799 --> 00:18:13.430 align:start position:0% no um You' basically make a contract on one<00:18:08.919> of<00:18:09.000> the<00:18:09.080> chains<00:18:09.559> that<00:18:09.679> says<00:18:10.600> if<00:18:11.600> uh<00:18:12.120> X<00:18:13.000> such 00:18:13.430 --> 00:18:13.440 align:start position:0% one of the chains that says if uh X such 00:18:13.440 --> 00:18:17.270 align:start position:0% one of the chains that says if uh X such that<00:18:13.799> the<00:18:14.000> hash<00:18:14.440> of<00:18:14.720> X<00:18:15.720> is<00:18:15.880> equal<00:18:16.200> to<00:18:16.520> some<00:18:17.000> y 00:18:17.270 --> 00:18:17.280 align:start position:0% that the hash of X is equal to some y 00:18:17.280 --> 00:18:19.590 align:start position:0% that the hash of X is equal to some y that's<00:18:17.440> in<00:18:17.559> the<00:18:17.760> contract<00:18:18.720> is 00:18:19.590 --> 00:18:19.600 align:start position:0% that's in the contract is 00:18:19.600 --> 00:18:23.149 align:start position:0% that's in the contract is provided 00:18:23.149 --> 00:18:23.159 align:start position:0% 00:18:23.159 --> 00:18:26.750 align:start position:0% uh<00:18:24.159> then<00:18:24.400> you<00:18:24.559> would<00:18:24.760> do 00:18:26.750 --> 00:18:26.760 align:start position:0% uh then you would do 00:18:26.760 --> 00:18:29.430 align:start position:0% uh then you would do something<00:18:27.760> and<00:18:27.919> then<00:18:28.200> otherwise 00:18:29.430 --> 00:18:29.440 align:start position:0% something and then otherwise 00:18:29.440 --> 00:18:35.590 align:start position:0% something and then otherwise if<00:18:29.799> some<00:18:30.120> time<00:18:30.480> pass<00:18:31.200> time 00:18:35.590 --> 00:18:35.600 align:start position:0% 00:18:35.600 --> 00:18:39.270 align:start position:0% passes<00:18:36.600> uh<00:18:36.880> then<00:18:37.000> do<00:18:37.200> something 00:18:39.270 --> 00:18:39.280 align:start position:0% passes uh then do something 00:18:39.280 --> 00:18:42.549 align:start position:0% passes uh then do something else<00:18:40.280> so<00:18:40.480> the<00:18:40.600> idea<00:18:40.880> is<00:18:41.039> that<00:18:41.600> um<00:18:41.960> so<00:18:42.120> if<00:18:42.240> Alice 00:18:42.549 --> 00:18:42.559 align:start position:0% else so the idea is that um so if Alice 00:18:42.559 --> 00:18:44.470 align:start position:0% else so the idea is that um so if Alice and<00:18:42.720> Bob<00:18:42.919> want<00:18:43.159> to<00:18:43.320> exchange<00:18:43.760> tokens<00:18:44.159> between 00:18:44.470 --> 00:18:44.480 align:start position:0% and Bob want to exchange tokens between 00:18:44.480 --> 00:18:46.630 align:start position:0% and Bob want to exchange tokens between two<00:18:44.880> blockchains<00:18:45.880> uh<00:18:46.000> and<00:18:46.080> they<00:18:46.240> kind<00:18:46.320> of<00:18:46.480> know 00:18:46.630 --> 00:18:46.640 align:start position:0% two blockchains uh and they kind of know 00:18:46.640 --> 00:18:47.549 align:start position:0% two blockchains uh and they kind of know each<00:18:46.760> other<00:18:46.960> and<00:18:47.039> they<00:18:47.120> know<00:18:47.240> that<00:18:47.360> they<00:18:47.440> want 00:18:47.549 --> 00:18:47.559 align:start position:0% each other and they know that they want 00:18:47.559 --> 00:18:49.230 align:start position:0% each other and they know that they want to<00:18:47.679> do<00:18:47.880> this<00:18:48.440> uh<00:18:48.520> but<00:18:48.640> they<00:18:48.720> don't<00:18:48.880> trust<00:18:49.120> each 00:18:49.230 --> 00:18:49.240 align:start position:0% to do this uh but they don't trust each 00:18:49.240 --> 00:18:51.510 align:start position:0% to do this uh but they don't trust each other<00:18:49.520> so<00:18:49.720> much<00:18:50.000> that<00:18:50.280> like<00:18:51.120> you<00:18:51.280> could<00:18:51.440> you 00:18:51.510 --> 00:18:51.520 align:start position:0% other so much that like you could you 00:18:51.520 --> 00:18:54.110 align:start position:0% other so much that like you could you would<00:18:51.679> just<00:18:52.080> send<00:18:53.080> Al<00:18:53.360> would<00:18:53.480> just<00:18:53.600> send<00:18:53.799> Bob 00:18:54.110 --> 00:18:54.120 align:start position:0% would just send Al would just send Bob 00:18:54.120 --> 00:18:55.870 align:start position:0% would just send Al would just send Bob tokens<00:18:54.440> on<00:18:54.559> her<00:18:54.720> chain<00:18:54.960> and<00:18:55.120> then<00:18:55.320> kind<00:18:55.440> of 00:18:55.870 --> 00:18:55.880 align:start position:0% tokens on her chain and then kind of 00:18:55.880 --> 00:18:57.430 align:start position:0% tokens on her chain and then kind of trust<00:18:56.240> that<00:18:56.360> Bob<00:18:56.559> would<00:18:56.679> send<00:18:56.880> her<00:18:57.120> back 00:18:57.430 --> 00:18:57.440 align:start position:0% trust that Bob would send her back 00:18:57.440 --> 00:18:59.669 align:start position:0% trust that Bob would send her back tokens<00:18:57.760> on<00:18:57.880> the<00:18:58.000> other<00:18:58.159> chain<00:18:59.000> uh<00:18:59.400> this<00:18:59.559> kind 00:18:59.669 --> 00:18:59.679 align:start position:0% tokens on the other chain uh this kind 00:18:59.679 --> 00:19:01.390 align:start position:0% tokens on the other chain uh this kind of<00:18:59.799> forces<00:19:00.240> either<00:19:00.520> both<00:19:00.760> trades<00:19:01.039> to<00:19:01.200> go 00:19:01.390 --> 00:19:01.400 align:start position:0% of forces either both trades to go 00:19:01.400 --> 00:19:03.470 align:start position:0% of forces either both trades to go through<00:19:02.120> uh<00:19:02.240> or<00:19:02.480> neither<00:19:03.039> so<00:19:03.200> the<00:19:03.280> way<00:19:03.400> it 00:19:03.470 --> 00:19:03.480 align:start position:0% through uh or neither so the way it 00:19:03.480 --> 00:19:04.830 align:start position:0% through uh or neither so the way it works<00:19:03.720> is<00:19:03.840> basically<00:19:04.080> Alex<00:19:04.400> will<00:19:04.520> make<00:19:04.679> a 00:19:04.830 --> 00:19:04.840 align:start position:0% works is basically Alex will make a 00:19:04.840 --> 00:19:06.990 align:start position:0% works is basically Alex will make a contract<00:19:05.360> that<00:19:05.440> says<00:19:06.039> if<00:19:06.360> the<00:19:06.480> pre-image<00:19:06.880> of 00:19:06.990 --> 00:19:07.000 align:start position:0% contract that says if the pre-image of 00:19:07.000 --> 00:19:09.270 align:start position:0% contract that says if the pre-image of some<00:19:07.240> hash<00:19:07.440> is<00:19:07.600> provided<00:19:08.440> then<00:19:08.600> send<00:19:08.840> money<00:19:09.039> to 00:19:09.270 --> 00:19:09.280 align:start position:0% some hash is provided then send money to 00:19:09.280 --> 00:19:11.750 align:start position:0% some hash is provided then send money to Bob<00:19:10.280> uh<00:19:10.400> and<00:19:10.600> she<00:19:10.960> she<00:19:11.080> makes<00:19:11.280> that<00:19:11.480> hash<00:19:11.679> so 00:19:11.750 --> 00:19:11.760 align:start position:0% Bob uh and she she makes that hash so 00:19:11.760 --> 00:19:15.230 align:start position:0% Bob uh and she she makes that hash so she<00:19:11.880> knows<00:19:12.240> the<00:19:12.320> preimage<00:19:13.760> otherwise<00:19:14.760> if<00:19:14.919> some 00:19:15.230 --> 00:19:15.240 align:start position:0% she knows the preimage otherwise if some 00:19:15.240 --> 00:19:16.750 align:start position:0% she knows the preimage otherwise if some amount<00:19:15.400> of<00:19:15.559> time<00:19:15.799> passes<00:19:16.320> it'll<00:19:16.480> send<00:19:16.640> the 00:19:16.750 --> 00:19:16.760 align:start position:0% amount of time passes it'll send the 00:19:16.760 --> 00:19:18.950 align:start position:0% amount of time passes it'll send the money<00:19:16.960> back<00:19:17.080> to<00:19:17.240> myself<00:19:18.200> and<00:19:18.320> then<00:19:18.640> Bob<00:19:18.840> will 00:19:18.950 --> 00:19:18.960 align:start position:0% money back to myself and then Bob will 00:19:18.960 --> 00:19:20.630 align:start position:0% money back to myself and then Bob will see<00:19:19.159> this<00:19:19.360> contract<00:19:19.960> and<00:19:20.080> make<00:19:20.320> another 00:19:20.630 --> 00:19:20.640 align:start position:0% see this contract and make another 00:19:20.640 --> 00:19:24.110 align:start position:0% see this contract and make another contract<00:19:21.080> on<00:19:21.720> Bob's<00:19:22.039> chain<00:19:22.320> chain<00:19:22.559> B<00:19:23.559> uh<00:19:23.760> and 00:19:24.110 --> 00:19:24.120 align:start position:0% contract on Bob's chain chain B uh and 00:19:24.120 --> 00:19:27.110 align:start position:0% contract on Bob's chain chain B uh and do<00:19:25.120> use<00:19:25.320> the<00:19:25.520> same<00:19:25.840> hash<00:19:26.600> he<00:19:26.760> do<00:19:26.919> another 00:19:27.110 --> 00:19:27.120 align:start position:0% do use the same hash he do another 00:19:27.120 --> 00:19:28.909 align:start position:0% do use the same hash he do another pre-image<00:19:27.760> send<00:19:27.960> money<00:19:28.159> to<00:19:28.320> Alice<00:19:28.600> if<00:19:28.720> if<00:19:28.840> that 00:19:28.909 --> 00:19:28.919 align:start position:0% pre-image send money to Alice if if that 00:19:28.919 --> 00:19:32.630 align:start position:0% pre-image send money to Alice if if that pre<00:19:29.440> is<00:19:30.440> is<00:19:30.799> provided<00:19:31.440> and<00:19:31.679> otherwise<00:19:32.520> uh 00:19:32.630 --> 00:19:32.640 align:start position:0% pre is is provided and otherwise uh 00:19:32.640 --> 00:19:34.630 align:start position:0% pre is is provided and otherwise uh it'll<00:19:32.840> send<00:19:33.039> money<00:19:33.240> back<00:19:33.360> to<00:19:33.520> B<00:19:34.120> so<00:19:34.280> basically 00:19:34.630 --> 00:19:34.640 align:start position:0% it'll send money back to B so basically 00:19:34.640 --> 00:19:36.310 align:start position:0% it'll send money back to B so basically what<00:19:34.720> will<00:19:34.919> happen<00:19:35.200> is<00:19:35.600> if<00:19:35.760> Alex<00:19:36.039> wants<00:19:36.200> a 00:19:36.310 --> 00:19:36.320 align:start position:0% what will happen is if Alex wants a 00:19:36.320 --> 00:19:37.950 align:start position:0% what will happen is if Alex wants a trade<00:19:36.480> to<00:19:36.600> go<00:19:36.840> through<00:19:37.240> she'll<00:19:37.559> provide<00:19:37.840> the 00:19:37.950 --> 00:19:37.960 align:start position:0% trade to go through she'll provide the 00:19:37.960 --> 00:19:39.990 align:start position:0% trade to go through she'll provide the pre-image<00:19:38.799> of<00:19:38.880> the<00:19:39.000> hash<00:19:39.480> and<00:19:39.600> to<00:19:39.720> take<00:19:39.880> her 00:19:39.990 --> 00:19:40.000 align:start position:0% pre-image of the hash and to take her 00:19:40.000 --> 00:19:42.470 align:start position:0% pre-image of the hash and to take her funds<00:19:40.280> on<00:19:40.400> B<00:19:40.720> chain<00:19:41.640> and<00:19:41.760> then<00:19:41.919> Bob<00:19:42.200> will 00:19:42.470 --> 00:19:42.480 align:start position:0% funds on B chain and then Bob will 00:19:42.480 --> 00:19:43.830 align:start position:0% funds on B chain and then Bob will therefore<00:19:42.760> have<00:19:42.919> the<00:19:43.000> pre-image<00:19:43.400> of<00:19:43.480> the<00:19:43.600> hash 00:19:43.830 --> 00:19:43.840 align:start position:0% therefore have the pre-image of the hash 00:19:43.840 --> 00:19:45.789 align:start position:0% therefore have the pre-image of the hash and<00:19:43.960> be<00:19:44.039> able<00:19:44.200> to<00:19:44.320> take<00:19:44.480> his<00:19:44.679> funds<00:19:44.919> on<00:19:45.080> Alys 00:19:45.789 --> 00:19:45.799 align:start position:0% and be able to take his funds on Alys 00:19:45.799 --> 00:19:49.750 align:start position:0% and be able to take his funds on Alys chain<00:19:46.799> so<00:19:47.159> basically<00:19:47.640> without<00:19:48.480> having<00:19:48.760> to 00:19:49.750 --> 00:19:49.760 align:start position:0% chain so basically without having to 00:19:49.760 --> 00:19:51.549 align:start position:0% chain so basically without having to either<00:19:49.960> of<00:19:50.080> the<00:19:50.159> consensus<00:19:50.640> groups<00:19:51.120> know<00:19:51.320> do 00:19:51.549 --> 00:19:51.559 align:start position:0% either of the consensus groups know do 00:19:51.559 --> 00:19:53.310 align:start position:0% either of the consensus groups know do kind<00:19:51.679> of<00:19:51.760> any<00:19:51.960> svb<00:19:52.440> proof<00:19:52.760> so<00:19:52.960> the<00:19:53.039> other 00:19:53.310 --> 00:19:53.320 align:start position:0% kind of any svb proof so the other 00:19:53.320 --> 00:19:55.710 align:start position:0% kind of any svb proof so the other consensus<00:19:53.760> groups<00:19:54.760> uh<00:19:54.880> we<00:19:54.960> were<00:19:55.240> were're<00:19:55.400> able 00:19:55.710 --> 00:19:55.720 align:start position:0% consensus groups uh we were were're able 00:19:55.720 --> 00:19:58.430 align:start position:0% consensus groups uh we were were're able to<00:19:55.960> to<00:19:56.159> do<00:19:56.960> kind<00:19:57.120> of<00:19:57.640> functionality<00:19:58.200> that<00:19:58.320> will 00:19:58.430 --> 00:19:58.440 align:start position:0% to to do kind of functionality that will 00:19:58.440 --> 00:20:00.390 align:start position:0% to to do kind of functionality that will only<00:19:58.799> happen<00:19:59.000> on<00:19:59.200> one<00:19:59.640> if<00:19:59.720> it<00:19:59.840> happens<00:20:00.120> on<00:20:00.240> the 00:20:00.390 --> 00:20:00.400 align:start position:0% only happen on one if it happens on the 00:20:00.400 --> 00:20:01.990 align:start position:0% only happen on one if it happens on the other<00:20:00.799> by<00:20:00.919> using<00:20:01.240> this<00:20:01.400> kind<00:20:01.520> of<00:20:01.679> common 00:20:01.990 --> 00:20:02.000 align:start position:0% other by using this kind of common 00:20:02.000 --> 00:20:04.630 align:start position:0% other by using this kind of common secret<00:20:03.000> uh<00:20:03.240> that<00:20:03.400> if<00:20:03.559> it<00:20:03.840> is<00:20:04.039> provided<00:20:04.400> some 00:20:04.630 --> 00:20:04.640 align:start position:0% secret uh that if it is provided some 00:20:04.640 --> 00:20:05.830 align:start position:0% secret uh that if it is provided some functionality<00:20:05.120> in<00:20:05.200> the<00:20:05.320> contract<00:20:05.640> is 00:20:05.830 --> 00:20:05.840 align:start position:0% functionality in the contract is 00:20:05.840 --> 00:20:07.630 align:start position:0% functionality in the contract is unlocked<00:20:06.840> so<00:20:07.200> this<00:20:07.360> type<00:20:07.520> of 00:20:07.630 --> 00:20:07.640 align:start position:0% unlocked so this type of 00:20:07.640 --> 00:20:13.390 align:start position:0% unlocked so this type of interoperability<00:20:08.280> is<00:20:08.400> called<00:20:08.679> Atomic 00:20:13.390 --> 00:20:13.400 align:start position:0% 00:20:13.400 --> 00:20:15.230 align:start position:0% interoperability<00:20:14.400> so<00:20:14.679> the<00:20:14.760> other<00:20:14.960> kind<00:20:15.080> of 00:20:15.230 --> 00:20:15.240 align:start position:0% interoperability so the other kind of 00:20:15.240 --> 00:20:19.430 align:start position:0% interoperability so the other kind of interoperability<00:20:16.120> is<00:20:16.840> uh<00:20:17.840> is<00:20:18.280> uh<00:20:19.240> the 00:20:19.430 --> 00:20:19.440 align:start position:0% interoperability is uh is uh the 00:20:19.440 --> 00:20:21.870 align:start position:0% interoperability is uh is uh the protocol<00:20:19.880> level<00:20:20.200> interoperability<00:20:21.200> so<00:20:21.760> the 00:20:21.870 --> 00:20:21.880 align:start position:0% protocol level interoperability so the 00:20:21.880 --> 00:20:23.549 align:start position:0% protocol level interoperability so the difference<00:20:22.200> is<00:20:22.360> with<00:20:22.520> atomical<00:20:23.240> level 00:20:23.549 --> 00:20:23.559 align:start position:0% difference is with atomical level 00:20:23.559 --> 00:20:24.909 align:start position:0% difference is with atomical level interoperability<00:20:24.360> the<00:20:24.480> things<00:20:24.640> that<00:20:24.720> you're 00:20:24.909 --> 00:20:24.919 align:start position:0% interoperability the things that you're 00:20:24.919 --> 00:20:26.710 align:start position:0% interoperability the things that you're trying<00:20:25.120> to<00:20:25.280> do<00:20:25.440> is<00:20:25.600> just<00:20:25.840> trying<00:20:26.039> to<00:20:26.360> like 00:20:26.710 --> 00:20:26.720 align:start position:0% trying to do is just trying to like 00:20:26.720 --> 00:20:28.390 align:start position:0% trying to do is just trying to like mediate<00:20:27.120> sort<00:20:27.240> of<00:20:27.400> cross<00:20:27.600> Gene<00:20:27.919> interactions 00:20:28.390 --> 00:20:28.400 align:start position:0% mediate sort of cross Gene interactions 00:20:28.400 --> 00:20:30.630 align:start position:0% mediate sort of cross Gene interactions between<00:20:28.880> users<00:20:29.480> so<00:20:29.720> decentralized<00:20:30.320> exchange 00:20:30.630 --> 00:20:30.640 align:start position:0% between users so decentralized exchange 00:20:30.640 --> 00:20:32.830 align:start position:0% between users so decentralized exchange is<00:20:30.799> one<00:20:31.039> example<00:20:31.520> or<00:20:31.760> potentially<00:20:32.240> like<00:20:32.559> cross 00:20:32.830 --> 00:20:32.840 align:start position:0% is one example or potentially like cross 00:20:32.840 --> 00:20:34.710 align:start position:0% is one example or potentially like cross chain<00:20:33.159> operations<00:20:33.799> where<00:20:34.200> something<00:20:34.480> happens 00:20:34.710 --> 00:20:34.720 align:start position:0% chain operations where something happens 00:20:34.720 --> 00:20:36.070 align:start position:0% chain operations where something happens on<00:20:34.840> this<00:20:35.000> chain<00:20:35.200> only<00:20:35.440> if<00:20:35.600> something<00:20:35.840> happens 00:20:36.070 --> 00:20:36.080 align:start position:0% on this chain only if something happens 00:20:36.080 --> 00:20:38.549 align:start position:0% on this chain only if something happens on<00:20:36.240> that<00:20:36.400> chain<00:20:37.200> a<00:20:37.360> protocol<00:20:37.760> level<00:20:38.000> interrupt 00:20:38.549 --> 00:20:38.559 align:start position:0% on that chain a protocol level interrupt 00:20:38.559 --> 00:20:40.789 align:start position:0% on that chain a protocol level interrupt is<00:20:38.840> where<00:20:39.360> you<00:20:39.440> would<00:20:39.679> have<00:20:40.159> some<00:20:40.400> kind<00:20:40.559> of 00:20:40.789 --> 00:20:40.799 align:start position:0% is where you would have some kind of 00:20:40.799 --> 00:20:42.990 align:start position:0% is where you would have some kind of Proto<00:20:41.280> some<00:20:41.520> kind<00:20:41.679> of<00:20:42.080> dab<00:20:42.400> or<00:20:42.559> some<00:20:42.720> kind<00:20:42.840> of 00:20:42.990 --> 00:20:43.000 align:start position:0% Proto some kind of dab or some kind of 00:20:43.000 --> 00:20:45.830 align:start position:0% Proto some kind of dab or some kind of protocol<00:20:43.480> that<00:20:43.919> actually<00:20:44.919> on<00:20:45.120> one<00:20:45.320> chain<00:20:45.679> that 00:20:45.830 --> 00:20:45.840 align:start position:0% protocol that actually on one chain that 00:20:45.840 --> 00:20:47.710 align:start position:0% protocol that actually on one chain that actually<00:20:46.080> needs<00:20:46.320> to<00:20:46.559> get<00:20:46.799> services<00:20:47.280> from<00:20:47.480> the 00:20:47.710 --> 00:20:47.720 align:start position:0% actually needs to get services from the 00:20:47.720 --> 00:20:50.190 align:start position:0% actually needs to get services from the from<00:20:47.880> the<00:20:48.000> other<00:20:48.280> from<00:20:48.440> the<00:20:48.520> other<00:20:48.720> chain<00:20:49.200> as 00:20:50.190 --> 00:20:50.200 align:start position:0% from the other from the other chain as 00:20:50.200 --> 00:20:53.430 align:start position:0% from the other from the other chain as as<00:20:50.280> a<00:20:50.440> protocol<00:20:51.000> on<00:20:51.120> the<00:20:51.240> whole<00:20:52.080> so<00:20:53.080> one 00:20:53.430 --> 00:20:53.440 align:start position:0% as a protocol on the whole so one 00:20:53.440 --> 00:20:57.909 align:start position:0% as a protocol on the whole so one example<00:20:54.440> just<00:20:55.120> uh<00:20:56.120> one<00:20:56.360> example<00:20:56.760> of<00:20:57.000> that<00:20:57.360> is 00:20:57.909 --> 00:20:57.919 align:start position:0% example just uh one example of that is 00:20:57.919 --> 00:21:00.149 align:start position:0% example just uh one example of that is uh<00:20:58.320> let's<00:20:58.720> say<00:20:58.919> that<00:20:59.039> you<00:20:59.159> would<00:20:59.440> have<00:20:59.679> some 00:21:00.149 --> 00:21:00.159 align:start position:0% uh let's say that you would have some 00:21:00.159 --> 00:21:01.590 align:start position:0% uh let's say that you would have some let's<00:21:00.320> say<00:21:00.480> that<00:21:00.600> you<00:21:00.760> have<00:21:00.960> some<00:21:01.159> kind<00:21:01.320> of<00:21:01.480> you 00:21:01.590 --> 00:21:01.600 align:start position:0% let's say that you have some kind of you 00:21:01.600 --> 00:21:03.710 align:start position:0% let's say that you have some kind of you know<00:21:02.120> you<00:21:02.280> have<00:21:02.440> ethereum<00:21:03.000> on<00:21:03.159> ethereum<00:21:03.559> you 00:21:03.710 --> 00:21:03.720 align:start position:0% know you have ethereum on ethereum you 00:21:03.720 --> 00:21:05.669 align:start position:0% know you have ethereum on ethereum you have<00:21:03.840> a<00:21:04.000> contract<00:21:04.679> and<00:21:04.799> then<00:21:04.960> that<00:21:05.360> and<00:21:05.520> that 00:21:05.669 --> 00:21:05.679 align:start position:0% have a contract and then that and that 00:21:05.679 --> 00:21:07.990 align:start position:0% have a contract and then that and that contract<00:21:06.120> tries<00:21:06.799> is<00:21:06.919> basically<00:21:07.400> is<00:21:07.520> a<00:21:07.640> stable 00:21:07.990 --> 00:21:08.000 align:start position:0% contract tries is basically is a stable 00:21:08.000 --> 00:21:10.870 align:start position:0% contract tries is basically is a stable coin<00:21:08.760> and<00:21:08.960> it<00:21:09.120> tries<00:21:09.520> you<00:21:09.640> know<00:21:09.840> uses<00:21:10.440> some<00:21:10.760> the 00:21:10.870 --> 00:21:10.880 align:start position:0% coin and it tries you know uses some the 00:21:10.880 --> 00:21:12.390 align:start position:0% coin and it tries you know uses some the sort<00:21:11.039> of<00:21:11.159> contract<00:21:11.480> for<00:21:11.640> difference<00:21:12.039> interest 00:21:12.390 --> 00:21:12.400 align:start position:0% sort of contract for difference interest 00:21:12.400 --> 00:21:14.029 align:start position:0% sort of contract for difference interest whatever<00:21:12.679> interest<00:21:12.960> rate<00:21:13.159> target<00:21:13.480> mechanism 00:21:14.029 --> 00:21:14.039 align:start position:0% whatever interest rate target mechanism 00:21:14.039 --> 00:21:16.549 align:start position:0% whatever interest rate target mechanism to<00:21:14.600> try<00:21:14.799> and<00:21:14.960> keep<00:21:15.159> a<00:21:15.480> keep<00:21:15.640> a<00:21:15.760> dollar<00:21:16.080> value<00:21:16.320> of 00:21:16.549 --> 00:21:16.559 align:start position:0% to try and keep a keep a dollar value of 00:21:16.559 --> 00:21:19.230 align:start position:0% to try and keep a keep a dollar value of one<00:21:17.559> problem<00:21:17.880> is<00:21:18.039> it<00:21:18.159> has<00:21:18.320> no<00:21:18.520> idea<00:21:18.919> what<00:21:19.039> the 00:21:19.230 --> 00:21:19.240 align:start position:0% one problem is it has no idea what the 00:21:19.240 --> 00:21:20.870 align:start position:0% one problem is it has no idea what the exchange<00:21:19.640> rate<00:21:19.840> of<00:21:19.919> a<00:21:20.080> dollar<00:21:20.400> to<00:21:20.600> you<00:21:20.679> know 00:21:20.870 --> 00:21:20.880 align:start position:0% exchange rate of a dollar to you know 00:21:20.880 --> 00:21:24.870 align:start position:0% exchange rate of a dollar to you know any<00:21:21.760> to<00:21:22.360> whatever<00:21:22.760> to<00:21:22.960> its<00:21:23.159> volatile<00:21:23.600> coin<00:21:24.000> is 00:21:24.870 --> 00:21:24.880 align:start position:0% any to whatever to its volatile coin is 00:21:24.880 --> 00:21:26.870 align:start position:0% any to whatever to its volatile coin is so<00:21:25.600> what<00:21:25.720> it<00:21:25.880> does<00:21:26.120> is<00:21:26.360> first<00:21:26.520> of<00:21:26.600> all<00:21:26.720> would 00:21:26.870 --> 00:21:26.880 align:start position:0% so what it does is first of all would 00:21:26.880 --> 00:21:28.190 align:start position:0% so what it does is first of all would maintain<00:21:27.200> an<00:21:27.320> internal<00:21:27.640> decentralized 00:21:28.190 --> 00:21:28.200 align:start position:0% maintain an internal decentralized 00:21:28.200 --> 00:21:29.669 align:start position:0% maintain an internal decentralized Exchange<00:21:28.640> to<00:21:28.720> figure<00:21:28.919> out<00:21:29.039> the<00:21:29.159> exchange<00:21:29.520> rate 00:21:29.669 --> 00:21:29.679 align:start position:0% Exchange to figure out the exchange rate 00:21:29.679 --> 00:21:32.590 align:start position:0% Exchange to figure out the exchange rate of<00:21:29.840> it<00:21:30.200> its<00:21:30.320> own<00:21:30.520> volatile<00:21:30.960> coin<00:21:31.159> to<00:21:31.400> Ether<00:21:32.400> and 00:21:32.590 --> 00:21:32.600 align:start position:0% of it its own volatile coin to Ether and 00:21:32.600 --> 00:21:34.190 align:start position:0% of it its own volatile coin to Ether and then<00:21:32.799> you<00:21:32.919> need<00:21:33.120> the<00:21:33.279> exchange<00:21:33.640> rate<00:21:33.799> of<00:21:33.880> ether 00:21:34.190 --> 00:21:34.200 align:start position:0% then you need the exchange rate of ether 00:21:34.200 --> 00:21:37.710 align:start position:0% then you need the exchange rate of ether to<00:21:34.320> the<00:21:34.440> US<00:21:34.760> dollar<00:21:35.760> but<00:21:36.240> because<00:21:36.760> let's<00:21:37.279> but 00:21:37.710 --> 00:21:37.720 align:start position:0% to the US dollar but because let's but 00:21:37.720 --> 00:21:39.549 align:start position:0% to the US dollar but because let's but the<00:21:37.960> situation<00:21:38.440> is<00:21:38.679> let's<00:21:38.840> say<00:21:39.039> that<00:21:39.120> you<00:21:39.360> over 00:21:39.549 --> 00:21:39.559 align:start position:0% the situation is let's say that you over 00:21:39.559 --> 00:21:41.830 align:start position:0% the situation is let's say that you over here<00:21:39.720> you<00:21:39.840> have<00:21:40.000> truth<00:21:40.320> coin<00:21:40.960> and<00:21:41.200> Truth<00:21:41.559> coin 00:21:41.830 --> 00:21:41.840 align:start position:0% here you have truth coin and Truth coin 00:21:41.840 --> 00:21:43.230 align:start position:0% here you have truth coin and Truth coin just<00:21:42.000> happens<00:21:42.279> to<00:21:42.400> be<00:21:42.520> a<00:21:42.640> decentralized 00:21:43.230 --> 00:21:43.240 align:start position:0% just happens to be a decentralized 00:21:43.240 --> 00:21:44.830 align:start position:0% just happens to be a decentralized Oracle<00:21:43.679> because<00:21:43.919> it's<00:21:44.080> the<00:21:44.279> decentralized 00:21:44.830 --> 00:21:44.840 align:start position:0% Oracle because it's the decentralized 00:21:44.840 --> 00:21:47.190 align:start position:0% Oracle because it's the decentralized Oracle<00:21:45.200> Network<00:21:45.520> and<00:21:45.600> it<00:21:45.799> has<00:21:46.279> you<00:21:46.400> know<00:21:47.080> a 00:21:47.190 --> 00:21:47.200 align:start position:0% Oracle Network and it has you know a 00:21:47.200 --> 00:21:48.909 align:start position:0% Oracle Network and it has you know a much<00:21:47.400> larger<00:21:47.840> set<00:21:48.120> a<00:21:48.200> much<00:21:48.360> larger<00:21:48.640> set<00:21:48.799> of 00:21:48.909 --> 00:21:48.919 align:start position:0% much larger set a much larger set of 00:21:48.919 --> 00:21:49.830 align:start position:0% much larger set a much larger set of users 00:21:49.830 --> 00:21:49.840 align:start position:0% users 00:21:49.840 --> 00:21:53.190 align:start position:0% users to<00:21:50.840> to<00:21:50.960> vote<00:21:51.200> so<00:21:51.360> it<00:21:51.480> has<00:21:51.600> more<00:21:52.000> more<00:21:52.200> security 00:21:53.190 --> 00:21:53.200 align:start position:0% to to vote so it has more more security 00:21:53.200 --> 00:21:55.110 align:start position:0% to to vote so it has more more security so<00:21:53.520> this<00:21:53.679> little<00:21:54.120> this<00:21:54.279> app<00:21:54.480> over<00:21:54.679> here<00:21:54.919> might 00:21:55.110 --> 00:21:55.120 align:start position:0% so this little this app over here might 00:21:55.120 --> 00:21:57.110 align:start position:0% so this little this app over here might want<00:21:55.360> to<00:21:55.520> ask<00:21:55.720> truth<00:21:56.120> coin<00:21:56.440> what<00:21:56.600> is<00:21:56.760> the<00:21:56.880> price 00:21:57.110 --> 00:21:57.120 align:start position:0% want to ask truth coin what is the price 00:21:57.120 --> 00:22:00.029 align:start position:0% want to ask truth coin what is the price of<00:21:57.279> what<00:21:57.400> is<00:21:57.480> the<00:21:57.600> price<00:21:57.760> of<00:21:57.880> ether<00:21:58.240> us 00:22:00.029 --> 00:22:00.039 align:start position:0% of what is the price of ether us 00:22:00.039 --> 00:22:02.630 align:start position:0% of what is the price of ether us and<00:22:00.799> the<00:22:00.960> idea<00:22:01.360> is<00:22:01.600> that<00:22:01.760> this<00:22:01.919> chain<00:22:02.200> needs<00:22:02.440> to 00:22:02.630 --> 00:22:02.640 align:start position:0% and the idea is that this chain needs to 00:22:02.640 --> 00:22:04.470 align:start position:0% and the idea is that this chain needs to have<00:22:02.840> a<00:22:03.000> way<00:22:03.120> of<00:22:03.279> sort<00:22:03.400> of<00:22:03.559> directly<00:22:04.080> asking 00:22:04.470 --> 00:22:04.480 align:start position:0% have a way of sort of directly asking 00:22:04.480 --> 00:22:07.149 align:start position:0% have a way of sort of directly asking this<00:22:04.600> chain<00:22:04.919> some<00:22:05.640> question<00:22:06.640> so<00:22:06.799> the<00:22:06.919> way<00:22:07.039> that 00:22:07.149 --> 00:22:07.159 align:start position:0% this chain some question so the way that 00:22:07.159 --> 00:22:10.230 align:start position:0% this chain some question so the way that you<00:22:07.320> generally<00:22:07.760> do<00:22:08.039> that<00:22:08.360> is<00:22:08.559> you<00:22:08.679> would<00:22:09.240> have 00:22:10.230 --> 00:22:10.240 align:start position:0% you generally do that is you would have 00:22:10.240 --> 00:22:11.830 align:start position:0% you generally do that is you would have you<00:22:10.320> would<00:22:10.520> have<00:22:10.679> the<00:22:10.960> ethereum<00:22:11.559> here 00:22:11.830 --> 00:22:11.840 align:start position:0% you would have the ethereum here 00:22:11.840 --> 00:22:13.590 align:start position:0% you would have the ethereum here maintain<00:22:12.400> basically<00:22:12.720> a<00:22:12.880> white<00:22:13.360> actually 00:22:13.590 --> 00:22:13.600 align:start position:0% maintain basically a white actually 00:22:13.600 --> 00:22:15.870 align:start position:0% maintain basically a white actually maintain<00:22:14.200> internally<00:22:14.880> inside<00:22:15.200> the<00:22:15.360> chain<00:22:15.679> a 00:22:15.870 --> 00:22:15.880 align:start position:0% maintain internally inside the chain a 00:22:15.880 --> 00:22:19.750 align:start position:0% maintain internally inside the chain a light<00:22:16.120> client<00:22:16.440> of<00:22:16.600> Truth<00:22:17.200> coin<00:22:18.400> and<00:22:19.400> then<00:22:19.600> in 00:22:19.750 --> 00:22:19.760 align:start position:0% light client of Truth coin and then in 00:22:19.760 --> 00:22:22.190 align:start position:0% light client of Truth coin and then in truth<00:22:20.120> coin<00:22:20.360> you<00:22:20.440> would<00:22:20.720> have<00:22:21.440> in<00:22:21.600> truth<00:22:21.960> coin 00:22:22.190 --> 00:22:22.200 align:start position:0% truth coin you would have in truth coin 00:22:22.200 --> 00:22:25.230 align:start position:0% truth coin you would have in truth coin you<00:22:22.279> would<00:22:22.480> have<00:22:23.159> some<00:22:23.600> active<00:22:23.919> you<00:22:24.039> know<00:22:24.240> set 00:22:25.230 --> 00:22:25.240 align:start position:0% you would have some active you know set 00:22:25.240 --> 00:22:27.350 align:start position:0% you would have some active you know set some<00:22:25.559> active<00:22:25.960> set<00:22:26.480> set<00:22:26.600> of<00:22:26.760> Voters<00:22:27.080> that<00:22:27.159> are 00:22:27.350 --> 00:22:27.360 align:start position:0% some active set set of Voters that are 00:22:27.360 --> 00:22:29.310 align:start position:0% some active set set of Voters that are vote<00:22:27.760> that<00:22:27.840> are<00:22:28.039> just<00:22:28.159> Contin<00:22:28.520> ously<00:22:28.880> voting 00:22:29.310 --> 00:22:29.320 align:start position:0% vote that are just Contin ously voting 00:22:29.320 --> 00:22:31.390 align:start position:0% vote that are just Contin ously voting on<00:22:29.720> on<00:22:29.880> the<00:22:30.080> question<00:22:30.440> of<00:22:30.919> you<00:22:31.039> know<00:22:31.240> what's 00:22:31.390 --> 00:22:31.400 align:start position:0% on on the question of you know what's 00:22:31.400 --> 00:22:32.789 align:start position:0% on on the question of you know what's the<00:22:31.760> what's<00:22:31.919> the<00:22:32.039> value<00:22:32.240> of<00:22:32.360> ether<00:22:32.600> and 00:22:32.789 --> 00:22:32.799 align:start position:0% the what's the value of ether and 00:22:32.799 --> 00:22:35.269 align:start position:0% the what's the value of ether and dollars<00:22:33.760> then<00:22:34.520> if<00:22:34.679> the<00:22:34.799> truth<00:22:35.080> coin 00:22:35.269 --> 00:22:35.279 align:start position:0% dollars then if the truth coin 00:22:35.279 --> 00:22:36.950 align:start position:0% dollars then if the truth coin blockchain<00:22:35.720> records<00:22:36.200> some<00:22:36.480> particular 00:22:36.950 --> 00:22:36.960 align:start position:0% blockchain records some particular 00:22:36.960 --> 00:22:39.350 align:start position:0% blockchain records some particular result<00:22:37.679> then<00:22:37.840> a<00:22:38.000> light<00:22:38.279> client<00:22:38.720> protocol<00:22:39.200> of 00:22:39.350 --> 00:22:39.360 align:start position:0% result then a light client protocol of 00:22:39.360 --> 00:22:41.950 align:start position:0% result then a light client protocol of the<00:22:39.960> a<00:22:40.080> light<00:22:40.279> client<00:22:40.600> Pro<00:22:41.360> the<00:22:41.480> light<00:22:41.679> client 00:22:41.950 --> 00:22:41.960 align:start position:0% the a light client Pro the light client 00:22:41.960 --> 00:22:43.510 align:start position:0% the a light client Pro the light client protocol<00:22:42.320> can<00:22:42.480> determine<00:22:42.880> what<00:22:43.000> the<00:22:43.159> result 00:22:43.510 --> 00:22:43.520 align:start position:0% protocol can determine what the result 00:22:43.520 --> 00:22:45.430 align:start position:0% protocol can determine what the result is<00:22:44.080> so<00:22:44.240> the<00:22:44.400> result<00:22:44.679> would<00:22:44.799> be<00:22:44.919> stored<00:22:45.200> in<00:22:45.320> the 00:22:45.430 --> 00:22:45.440 align:start position:0% is so the result would be stored in the 00:22:45.440 --> 00:22:48.549 align:start position:0% is so the result would be stored in the state<00:22:45.679> tree<00:22:46.360> and<00:22:46.520> then<00:22:47.039> basically<00:22:47.480> the<00:22:48.440> the 00:22:48.549 --> 00:22:48.559 align:start position:0% state tree and then basically the the 00:22:48.559 --> 00:22:50.549 align:start position:0% state tree and then basically the the like<00:22:48.760> line<00:22:49.039> protocol<00:22:49.480> would<00:22:49.679> ask<00:22:49.919> some<00:22:50.200> node 00:22:50.549 --> 00:22:50.559 align:start position:0% like line protocol would ask some node 00:22:50.559 --> 00:22:52.950 align:start position:0% like line protocol would ask some node to<00:22:50.799> provide<00:22:51.360> a<00:22:51.480> Merle<00:22:51.880> tree<00:22:52.120> proof<00:22:52.480> of<00:22:52.840> you 00:22:52.950 --> 00:22:52.960 align:start position:0% to provide a Merle tree proof of you 00:22:52.960 --> 00:22:55.669 align:start position:0% to provide a Merle tree proof of you know<00:22:53.120> what<00:22:53.200> is<00:22:53.360> the<00:22:53.480> value<00:22:53.679> of<00:22:53.799> a<00:22:54.240> dollar<00:22:55.240> and 00:22:55.669 --> 00:22:55.679 align:start position:0% know what is the value of a dollar and 00:22:55.679 --> 00:22:58.710 align:start position:0% know what is the value of a dollar and uh<00:22:56.240> this<00:22:56.720> and<00:22:56.799> this<00:22:56.919> Merle<00:22:57.279> tree<00:22:58.039> uh<00:22:58.159> ins<00:22:58.640> of 00:22:58.710 --> 00:22:58.720 align:start position:0% uh this and this Merle tree uh ins of 00:22:58.720 --> 00:23:00.390 align:start position:0% uh this and this Merle tree uh ins of transaction<00:22:59.279> data<00:22:59.799> the<00:22:59.919> like<00:23:00.120> client 00:23:00.390 --> 00:23:00.400 align:start position:0% transaction data the like client 00:23:00.400 --> 00:23:01.870 align:start position:0% transaction data the like client protocol<00:23:00.720> would<00:23:00.840> reward<00:23:01.240> whoever<00:23:01.559> provides 00:23:01.870 --> 00:23:01.880 align:start position:0% protocol would reward whoever provides 00:23:01.880 --> 00:23:03.710 align:start position:0% protocol would reward whoever provides the<00:23:02.039> proof<00:23:02.760> and<00:23:02.919> then<00:23:03.120> that's<00:23:03.320> how<00:23:03.440> it<00:23:03.559> would 00:23:03.710 --> 00:23:03.720 align:start position:0% the proof and then that's how it would 00:23:03.720 --> 00:23:05.230 align:start position:0% the proof and then that's how it would know<00:23:03.960> what<00:23:04.080> the<00:23:04.200> value<00:23:04.440> of<00:23:04.520> you<00:23:04.640> know<00:23:04.760> ether 00:23:05.230 --> 00:23:05.240 align:start position:0% know what the value of you know ether 00:23:05.240 --> 00:23:07.590 align:start position:0% know what the value of you know ether ether<00:23:05.520> tover<00:23:06.120> is<00:23:06.880> and<00:23:07.000> then<00:23:07.120> the<00:23:07.240> other<00:23:07.440> thing 00:23:07.590 --> 00:23:07.600 align:start position:0% ether tover is and then the other thing 00:23:07.600 --> 00:23:09.510 align:start position:0% ether tover is and then the other thing that<00:23:07.720> you<00:23:07.799> can<00:23:07.960> do<00:23:08.320> is<00:23:08.600> is<00:23:08.760> that<00:23:08.960> based<00:23:09.200> on 00:23:09.510 --> 00:23:09.520 align:start position:0% that you can do is is that based on 00:23:09.520 --> 00:23:12.630 align:start position:0% that you can do is is that based on based<00:23:09.720> on<00:23:09.880> Who<00:23:10.080> provided<00:23:10.559> the<00:23:10.760> who<00:23:11.600> set<00:23:11.880> the 00:23:12.630 --> 00:23:12.640 align:start position:0% based on Who provided the who set the 00:23:12.640 --> 00:23:16.510 align:start position:0% based on Who provided the who set the transaction<00:23:13.640> or<00:23:13.840> rather<00:23:14.159> based<00:23:14.400> on<00:23:15.120> uh<00:23:16.120> so<00:23:16.440> the 00:23:16.510 --> 00:23:16.520 align:start position:0% transaction or rather based on uh so the 00:23:16.520 --> 00:23:18.149 align:start position:0% transaction or rather based on uh so the other<00:23:16.720> thing<00:23:16.880> you<00:23:16.960> can<00:23:17.120> do<00:23:17.400> is<00:23:17.520> you<00:23:17.640> can<00:23:17.840> also 00:23:18.149 --> 00:23:18.159 align:start position:0% other thing you can do is you can also 00:23:18.159 --> 00:23:19.669 align:start position:0% other thing you can do is you can also peek<00:23:18.400> into<00:23:18.559> the<00:23:18.679> truth<00:23:18.960> coin<00:23:19.200> blockchain<00:23:19.600> and 00:23:19.669 --> 00:23:19.679 align:start position:0% peek into the truth coin blockchain and 00:23:19.679 --> 00:23:21.350 align:start position:0% peek into the truth coin blockchain and you<00:23:19.760> can<00:23:19.960> determine<00:23:20.480> who<00:23:20.679> contributed<00:23:21.200> to 00:23:21.350 --> 00:23:21.360 align:start position:0% you can determine who contributed to 00:23:21.360 --> 00:23:23.310 align:start position:0% you can determine who contributed to this<00:23:21.559> particular<00:23:22.000> vote<00:23:22.679> and<00:23:22.840> then<00:23:23.000> you<00:23:23.120> can 00:23:23.310 --> 00:23:23.320 align:start position:0% this particular vote and then you can 00:23:23.320 --> 00:23:24.990 align:start position:0% this particular vote and then you can give<00:23:23.480> them<00:23:23.679> ethereum<00:23:24.200> assets<00:23:24.600> inside<00:23:24.840> of 00:23:24.990 --> 00:23:25.000 align:start position:0% give them ethereum assets inside of 00:23:25.000 --> 00:23:27.149 align:start position:0% give them ethereum assets inside of ethereum<00:23:25.760> so<00:23:25.919> you<00:23:26.080> sort<00:23:26.240> of<00:23:26.760> you're<00:23:27.000> just 00:23:27.149 --> 00:23:27.159 align:start position:0% ethereum so you sort of you're just 00:23:27.159 --> 00:23:29.110 align:start position:0% ethereum so you sort of you're just you're<00:23:27.360> sort<00:23:27.520> of<00:23:27.679> buying<00:23:28.039> service<00:23:28.640> is<00:23:28.919> from 00:23:29.110 --> 00:23:29.120 align:start position:0% you're sort of buying service is from 00:23:29.120 --> 00:23:31.789 align:start position:0% you're sort of buying service is from truth<00:23:29.520> coin<00:23:29.720> users<00:23:30.200> inside<00:23:30.480> of<00:23:30.679> ethereum<00:23:31.679> and 00:23:31.789 --> 00:23:31.799 align:start position:0% truth coin users inside of ethereum and 00:23:31.799 --> 00:23:33.590 align:start position:0% truth coin users inside of ethereum and you're<00:23:32.000> also<00:23:32.360> and<00:23:32.440> you're<00:23:32.760> getting<00:23:33.080> back<00:23:33.360> this 00:23:33.590 --> 00:23:33.600 align:start position:0% you're also and you're getting back this 00:23:33.600 --> 00:23:35.750 align:start position:0% you're also and you're getting back this truthful<00:23:34.000> feed<00:23:34.200> of<00:23:34.360> what<00:23:34.440> the<00:23:34.559> result<00:23:34.919> is<00:23:35.600> and 00:23:35.750 --> 00:23:35.760 align:start position:0% truthful feed of what the result is and 00:23:35.760 --> 00:23:37.230 align:start position:0% truthful feed of what the result is and then<00:23:35.960> given<00:23:36.159> the<00:23:36.279> results<00:23:36.679> the<00:23:36.840> daap<00:23:37.039> would<00:23:37.159> be 00:23:37.230 --> 00:23:37.240 align:start position:0% then given the results the daap would be 00:23:37.240 --> 00:23:38.510 align:start position:0% then given the results the daap would be able<00:23:37.400> to<00:23:37.520> do<00:23:37.640> whatever<00:23:37.840> it<00:23:37.960> needs<00:23:38.120> to<00:23:38.240> do<00:23:38.400> with 00:23:38.510 --> 00:23:38.520 align:start position:0% able to do whatever it needs to do with 00:23:38.520 --> 00:23:40.909 align:start position:0% able to do whatever it needs to do with the<00:23:38.600> price<00:23:38.799> of<00:23:38.880> the<00:23:39.240> dollar<00:23:40.240> so<00:23:40.559> that's<00:23:40.760> kind 00:23:40.909 --> 00:23:40.919 align:start position:0% the price of the dollar so that's kind 00:23:40.919 --> 00:23:45.549 align:start position:0% the price of the dollar so that's kind of<00:23:41.039> an<00:23:41.240> example 00:23:45.549 --> 00:23:45.559 align:start position:0% 00:23:45.559 --> 00:23:49.390 align:start position:0% of<00:23:46.919> um<00:23:47.919> so<00:23:48.120> that's<00:23:48.279> kind<00:23:48.400> of<00:23:48.480> an<00:23:48.640> example<00:23:49.000> of 00:23:49.390 --> 00:23:49.400 align:start position:0% of um so that's kind of an example of 00:23:49.400 --> 00:23:51.230 align:start position:0% of um so that's kind of an example of subprotocol<00:23:50.120> level<00:23:50.320> interoperability<00:23:51.120> where 00:23:51.230 --> 00:23:51.240 align:start position:0% subprotocol level interoperability where 00:23:51.240 --> 00:23:53.549 align:start position:0% subprotocol level interoperability where you<00:23:51.320> would<00:23:51.640> build<00:23:51.880> in<00:23:52.120> an<00:23:52.360> ethereum<00:23:52.880> contract 00:23:53.549 --> 00:23:53.559 align:start position:0% you would build in an ethereum contract 00:23:53.559 --> 00:23:55.230 align:start position:0% you would build in an ethereum contract an<00:23:53.679> SPV<00:23:54.080> client<00:23:54.360> of<00:23:54.480> some<00:23:54.640> other<00:23:54.799> chain<00:23:55.080> so 00:23:55.230 --> 00:23:55.240 align:start position:0% an SPV client of some other chain so 00:23:55.240 --> 00:23:56.830 align:start position:0% an SPV client of some other chain so that<00:23:55.559> people<00:23:55.799> on<00:23:56.000> ethereum<00:23:56.400> will<00:23:56.480> be<00:23:56.559> able<00:23:56.720> to 00:23:56.830 --> 00:23:56.840 align:start position:0% that people on ethereum will be able to 00:23:56.840 --> 00:23:59.510 align:start position:0% that people on ethereum will be able to know<00:23:57.080> some<00:23:57.279> facts<00:23:57.600> about<00:23:58.880> people<00:23:59.120> on<00:23:59.279> another 00:23:59.510 --> 00:23:59.520 align:start position:0% know some facts about people on another 00:23:59.520 --> 00:24:01.350 align:start position:0% know some facts about people on another chain<00:24:00.120> but<00:24:00.240> if<00:24:00.320> you<00:24:00.440> wanted<00:24:00.720> to<00:24:00.880> have<00:24:01.000> chains 00:24:01.350 --> 00:24:01.360 align:start position:0% chain but if you wanted to have chains 00:24:01.360 --> 00:24:02.590 align:start position:0% chain but if you wanted to have chains actually<00:24:01.520> share<00:24:01.880> security<00:24:02.279> you<00:24:02.360> would<00:24:02.480> need 00:24:02.590 --> 00:24:02.600 align:start position:0% actually share security you would need 00:24:02.600 --> 00:24:04.269 align:start position:0% actually share security you would need to<00:24:02.679> build<00:24:02.880> that<00:24:02.960> in<00:24:03.120> on<00:24:03.240> the<00:24:03.400> protocol<00:24:03.799> level 00:24:04.269 --> 00:24:04.279 align:start position:0% to build that in on the protocol level 00:24:04.279 --> 00:24:07.029 align:start position:0% to build that in on the protocol level where<00:24:04.520> not<00:24:05.320> just<00:24:05.799> kind<00:24:05.960> of<00:24:06.080> NOS<00:24:06.520> who<00:24:06.720> know<00:24:06.880> what 00:24:07.029 --> 00:24:07.039 align:start position:0% where not just kind of NOS who know what 00:24:07.039 --> 00:24:08.630 align:start position:0% where not just kind of NOS who know what these<00:24:07.360> subcontracts<00:24:08.000> are<00:24:08.120> doing<00:24:08.360> would<00:24:08.520> know 00:24:08.630 --> 00:24:08.640 align:start position:0% these subcontracts are doing would know 00:24:08.640 --> 00:24:10.230 align:start position:0% these subcontracts are doing would know what<00:24:08.760> it<00:24:08.840> is<00:24:08.960> but<00:24:09.120> the<00:24:09.279> actual<00:24:09.799> consensus 00:24:10.230 --> 00:24:10.240 align:start position:0% what it is but the actual consensus 00:24:10.240 --> 00:24:13.430 align:start position:0% what it is but the actual consensus level<00:24:10.600> protocol<00:24:11.000> would<00:24:11.159> know<00:24:11.840> so<00:24:12.320> the<00:24:12.480> idea<00:24:13.240> uh 00:24:13.430 --> 00:24:13.440 align:start position:0% level protocol would know so the idea uh 00:24:13.440 --> 00:24:15.510 align:start position:0% level protocol would know so the idea uh with<00:24:13.960> protocol<00:24:14.400> level<00:24:14.720> security<00:24:15.000> sharing<00:24:15.360> is 00:24:15.510 --> 00:24:15.520 align:start position:0% with protocol level security sharing is 00:24:15.520 --> 00:24:18.630 align:start position:0% with protocol level security sharing is that<00:24:16.159> uh<00:24:16.559> you<00:24:16.679> would<00:24:17.600> you<00:24:17.720> would<00:24:18.000> build<00:24:18.480> the 00:24:18.630 --> 00:24:18.640 align:start position:0% that uh you would you would build the 00:24:18.640 --> 00:24:20.950 align:start position:0% that uh you would you would build the consensus<00:24:19.039> of<00:24:19.240> another<00:24:19.600> another<00:24:19.880> chain<00:24:20.400> into 00:24:20.950 --> 00:24:20.960 align:start position:0% consensus of another another chain into 00:24:20.960 --> 00:24:22.470 align:start position:0% consensus of another another chain into your<00:24:21.120> own<00:24:21.320> Chain's<00:24:21.679> consensus<00:24:22.120> so<00:24:22.240> that<00:24:22.320> you 00:24:22.470 --> 00:24:22.480 align:start position:0% your own Chain's consensus so that you 00:24:22.480 --> 00:24:24.149 align:start position:0% your own Chain's consensus so that you could<00:24:22.640> for<00:24:22.760> example<00:24:23.120> buy<00:24:23.400> checkpoints<00:24:23.919> buy 00:24:24.149 --> 00:24:24.159 align:start position:0% could for example buy checkpoints buy 00:24:24.159 --> 00:24:27.190 align:start position:0% could for example buy checkpoints buy time<00:24:24.400> stamps<00:24:24.799> buy<00:24:25.480> uh<00:24:25.720> you<00:24:25.960> you<00:24:26.279> you<00:24:26.399> could<00:24:26.840> use 00:24:27.190 --> 00:24:27.200 align:start position:0% time stamps buy uh you you you could use 00:24:27.200 --> 00:24:29.470 align:start position:0% time stamps buy uh you you you could use another<00:24:27.520> chain<00:24:27.799> of<00:24:27.960> services<00:24:28.440> in<00:24:28.559> order 00:24:29.470 --> 00:24:29.480 align:start position:0% another chain of services in order 00:24:29.480 --> 00:24:32.549 align:start position:0% another chain of services in order to<00:24:30.480> well<00:24:30.760> so<00:24:30.919> the<00:24:31.120> general<00:24:31.559> idea<00:24:31.919> with<00:24:32.080> sharing 00:24:32.549 --> 00:24:32.559 align:start position:0% to well so the general idea with sharing 00:24:32.559 --> 00:24:35.269 align:start position:0% to well so the general idea with sharing security<00:24:33.000> I<00:24:33.120> think<00:24:33.279> is<00:24:33.440> more<00:24:34.000> is<00:24:34.200> more<00:24:34.600> that 00:24:35.269 --> 00:24:35.279 align:start position:0% security I think is more is more that 00:24:35.279 --> 00:24:38.110 align:start position:0% security I think is more is more that let's<00:24:35.480> say<00:24:35.679> you<00:24:35.960> have<00:24:36.360> 10<00:24:36.600> chains<00:24:37.120> chain<00:24:37.640> C1 00:24:38.110 --> 00:24:38.120 align:start position:0% let's say you have 10 chains chain C1 00:24:38.120 --> 00:24:40.830 align:start position:0% let's say you have 10 chains chain C1 through<00:24:38.679> C10<00:24:39.679> you<00:24:39.799> know<00:24:40.039> each<00:24:40.360> each<00:24:40.559> one<00:24:40.679> of 00:24:40.830 --> 00:24:40.840 align:start position:0% through C10 you know each each one of 00:24:40.840 --> 00:24:43.630 align:start position:0% through C10 you know each each one of those<00:24:41.000> chains<00:24:41.480> has<00:24:41.760> 500<00:24:42.399> has<00:24:42.640> 500<00:24:43.080> users<00:24:43.440> and 00:24:43.630 --> 00:24:43.640 align:start position:0% those chains has 500 has 500 users and 00:24:43.640 --> 00:24:46.830 align:start position:0% those chains has 500 has 500 users and 500<00:24:44.000> millions<00:24:44.640> of<00:24:44.840> capital<00:24:45.679> the<00:24:45.840> problem<00:24:46.200> is 00:24:46.830 --> 00:24:46.840 align:start position:0% 500 millions of capital the problem is 00:24:46.840 --> 00:24:48.710 align:start position:0% 500 millions of capital the problem is how<00:24:46.960> do<00:24:47.080> you<00:24:47.200> make<00:24:47.440> each<00:24:48.080> if<00:24:48.200> you<00:24:48.320> just<00:24:48.440> do<00:24:48.600> this 00:24:48.710 --> 00:24:48.720 align:start position:0% how do you make each if you just do this 00:24:48.720 --> 00:24:50.830 align:start position:0% how do you make each if you just do this multichain<00:24:49.279> approach<00:24:49.640> by<00:24:49.799> default<00:24:50.480> if<00:24:50.600> you 00:24:50.830 --> 00:24:50.840 align:start position:0% multichain approach by default if you 00:24:50.840 --> 00:24:52.110 align:start position:0% multichain approach by default if you you<00:24:50.960> know<00:24:51.120> if<00:24:51.240> the<00:24:51.360> whole<00:24:51.520> thing<00:24:51.760> has<00:24:51.840> $5 00:24:52.110 --> 00:24:52.120 align:start position:0% you know if the whole thing has $5 00:24:52.120 --> 00:24:54.230 align:start position:0% you know if the whole thing has $5 billion<00:24:52.640> of<00:24:52.840> capital<00:24:53.360> then<00:24:53.799> or<00:24:53.919> if<00:24:54.000> the<00:24:54.120> whole 00:24:54.230 --> 00:24:54.240 align:start position:0% billion of capital then or if the whole 00:24:54.240 --> 00:24:55.870 align:start position:0% billion of capital then or if the whole system<00:24:54.480> has<00:24:54.600> $5<00:24:54.760> billion<00:24:55.200> of<00:24:55.320> capital<00:24:55.679> then<00:24:55.760> if 00:24:55.870 --> 00:24:55.880 align:start position:0% system has $5 billion of capital then if 00:24:55.880 --> 00:24:57.669 align:start position:0% system has $5 billion of capital then if you<00:24:56.000> have<00:24:56.159> more<00:24:56.360> applications<00:24:57.360> if<00:24:57.440> you<00:24:57.559> go 00:24:57.669 --> 00:24:57.679 align:start position:0% you have more applications if you go 00:24:57.679 --> 00:24:59.549 align:start position:0% you have more applications if you go from<00:24:57.840> 10<00:24:58.000> to<00:24:58.760> then<00:24:58.880> each<00:24:59.000> of<00:24:59.120> them<00:24:59.240> is<00:24:59.360> down<00:24:59.480> to 00:24:59.549 --> 00:24:59.559 align:start position:0% from 10 to then each of them is down to 00:24:59.559 --> 00:25:01.430 align:start position:0% from 10 to then each of them is down to $50<00:24:59.880> million<00:25:00.440> of<00:25:00.600> capital<00:25:01.000> each<00:25:01.120> of<00:25:01.200> them<00:25:01.320> is 00:25:01.430 --> 00:25:01.440 align:start position:0% $50 million of capital each of them is 00:25:01.440 --> 00:25:03.149 align:start position:0% $50 million of capital each of them is down<00:25:01.559> to<00:25:01.600> $50<00:25:01.880> million<00:25:02.399> worth<00:25:02.600> of<00:25:02.720> security 00:25:03.149 --> 00:25:03.159 align:start position:0% down to $50 million worth of security 00:25:03.159 --> 00:25:05.510 align:start position:0% down to $50 million worth of security and<00:25:03.320> so<00:25:03.520> forth<00:25:04.200> so<00:25:04.520> problem<00:25:04.840> is<00:25:05.000> how<00:25:05.159> do<00:25:05.279> you 00:25:05.510 --> 00:25:05.520 align:start position:0% and so forth so problem is how do you 00:25:05.520 --> 00:25:07.950 align:start position:0% and so forth so problem is how do you have<00:25:06.360> chains<00:25:06.679> that<00:25:06.799> are<00:25:06.919> only<00:25:07.240> processed<00:25:07.720> by<00:25:07.840> a 00:25:07.950 --> 00:25:07.960 align:start position:0% have chains that are only processed by a 00:25:07.960 --> 00:25:10.350 align:start position:0% have chains that are only processed by a few<00:25:08.480> that<00:25:08.559> are<00:25:08.799> only<00:25:09.799> processed<00:25:10.200> by 00:25:10.350 --> 00:25:10.360 align:start position:0% few that are only processed by 00:25:10.360 --> 00:25:12.710 align:start position:0% few that are only processed by relatively<00:25:10.799> few<00:25:11.000> nodes<00:25:11.840> without<00:25:12.279> having<00:25:12.520> this 00:25:12.710 --> 00:25:12.720 align:start position:0% relatively few nodes without having this 00:25:12.720 --> 00:25:14.269 align:start position:0% relatively few nodes without having this problem<00:25:13.000> that<00:25:13.159> each<00:25:13.360> chain<00:25:13.600> only<00:25:13.799> has<00:25:13.919> a<00:25:14.039> small 00:25:14.269 --> 00:25:14.279 align:start position:0% problem that each chain only has a small 00:25:14.279 --> 00:25:17.110 align:start position:0% problem that each chain only has a small amount<00:25:14.520> of<00:25:14.679> security<00:25:15.360> right<00:25:15.799> but<00:25:16.200> also<00:25:16.600> so<00:25:16.919> one 00:25:17.110 --> 00:25:17.120 align:start position:0% amount of security right but also so one 00:25:17.120 --> 00:25:18.630 align:start position:0% amount of security right but also so one thing<00:25:17.240> that<00:25:17.360> we<00:25:17.440> haven't<00:25:17.600> mentioned<00:25:17.919> yet<00:25:18.399> with 00:25:18.630 --> 00:25:18.640 align:start position:0% thing that we haven't mentioned yet with 00:25:18.640 --> 00:25:20.149 align:start position:0% thing that we haven't mentioned yet with one<00:25:18.720> of<00:25:18.840> the<00:25:18.919> benefits<00:25:19.279> of<00:25:19.480> multichain 00:25:20.149 --> 00:25:20.159 align:start position:0% one of the benefits of multichain 00:25:20.159 --> 00:25:24.269 align:start position:0% one of the benefits of multichain scaling<00:25:20.640> is<00:25:20.799> that<00:25:21.799> um<00:25:22.799> if<00:25:22.960> a<00:25:23.120> chain<00:25:24.039> is 00:25:24.269 --> 00:25:24.279 align:start position:0% scaling is that um if a chain is 00:25:24.279 --> 00:25:26.590 align:start position:0% scaling is that um if a chain is compromised<00:25:25.000> it<00:25:25.559> won't<00:25:25.840> necessarily<00:25:26.320> affect 00:25:26.590 --> 00:25:26.600 align:start position:0% compromised it won't necessarily affect 00:25:26.600 --> 00:25:29.750 align:start position:0% compromised it won't necessarily affect other<00:25:26.760> chains<00:25:27.120> as<00:25:27.320> much<00:25:28.120> uh<00:25:28.480> so<00:25:29.080> and<00:25:29.360> you<00:25:29.480> can 00:25:29.750 --> 00:25:29.760 align:start position:0% other chains as much uh so and you can 00:25:29.760 --> 00:25:31.750 align:start position:0% other chains as much uh so and you can provide<00:25:30.120> chains<00:25:30.520> at<00:25:30.919> services<00:25:31.240> on<00:25:31.399> chains<00:25:31.640> at 00:25:31.750 --> 00:25:31.760 align:start position:0% provide chains at services on chains at 00:25:31.760 --> 00:25:33.510 align:start position:0% provide chains at services on chains at a<00:25:31.840> given<00:25:32.039> level<00:25:32.279> of<00:25:32.440> security<00:25:33.159> which<00:25:33.320> means 00:25:33.510 --> 00:25:33.520 align:start position:0% a given level of security which means 00:25:33.520 --> 00:25:35.549 align:start position:0% a given level of security which means that<00:25:33.840> like<00:25:34.000> lower<00:25:34.399> cost<00:25:34.679> to<00:25:34.840> some<00:25:35.039> users<00:25:35.440> who 00:25:35.549 --> 00:25:35.559 align:start position:0% that like lower cost to some users who 00:25:35.559 --> 00:25:36.870 align:start position:0% that like lower cost to some users who don't<00:25:35.720> need<00:25:35.919> as<00:25:36.039> much<00:25:36.279> Security<00:25:36.600> on<00:25:36.720> that 00:25:36.870 --> 00:25:36.880 align:start position:0% don't need as much Security on that 00:25:36.880 --> 00:25:40.350 align:start position:0% don't need as much Security on that chain<00:25:37.840> uh<00:25:38.159> so<00:25:38.440> what<00:25:38.559> you<00:25:38.799> can't<00:25:39.240> if<00:25:39.320> you<00:25:40.000> want 00:25:40.350 --> 00:25:40.360 align:start position:0% chain uh so what you can't if you want 00:25:40.360 --> 00:25:41.909 align:start position:0% chain uh so what you can't if you want to<00:25:40.559> provide<00:25:40.919> at<00:25:41.000> a<00:25:41.120> lower<00:25:41.399> cost<00:25:41.600> and<00:25:41.720> still 00:25:41.909 --> 00:25:41.919 align:start position:0% to provide at a lower cost and still 00:25:41.919 --> 00:25:43.230 align:start position:0% to provide at a lower cost and still have<00:25:42.080> high<00:25:42.279> security<00:25:42.679> what<00:25:42.760> you<00:25:42.840> can<00:25:42.960> do<00:25:43.080> is 00:25:43.230 --> 00:25:43.240 align:start position:0% have high security what you can do is 00:25:43.240 --> 00:25:45.590 align:start position:0% have high security what you can do is basically<00:25:43.559> buy<00:25:43.799> security<00:25:44.159> from<00:25:44.360> other<00:25:44.600> chains 00:25:45.590 --> 00:25:45.600 align:start position:0% basically buy security from other chains 00:25:45.600 --> 00:25:47.510 align:start position:0% basically buy security from other chains um<00:25:46.159> and<00:25:46.399> so<00:25:46.720> and<00:25:46.799> to<00:25:46.960> do<00:25:47.080> that<00:25:47.200> you<00:25:47.279> would 00:25:47.510 --> 00:25:47.520 align:start position:0% um and so and to do that you would 00:25:47.520 --> 00:25:48.990 align:start position:0% um and so and to do that you would basically<00:25:47.799> need<00:25:47.960> to<00:25:48.240> interoperate<00:25:48.840> your 00:25:48.990 --> 00:25:49.000 align:start position:0% basically need to interoperate your 00:25:49.000 --> 00:25:50.510 align:start position:0% basically need to interoperate your chain<00:25:49.240> with<00:25:49.440> other<00:25:49.640> chain<00:25:49.840> at<00:25:49.960> the<00:25:50.080> protocol 00:25:50.510 --> 00:25:50.520 align:start position:0% chain with other chain at the protocol 00:25:50.520 --> 00:25:53.590 align:start position:0% chain with other chain at the protocol level<00:25:50.840> and<00:25:51.039> basically<00:25:51.480> have<00:25:52.399> uh<00:25:52.960> kind<00:25:53.120> of<00:25:53.279> like 00:25:53.590 --> 00:25:53.600 align:start position:0% level and basically have uh kind of like 00:25:53.600 --> 00:25:55.230 align:start position:0% level and basically have uh kind of like clients<00:25:53.919> and<00:25:54.039> full<00:25:54.320> clients<00:25:54.640> agree<00:25:55.000> that 00:25:55.230 --> 00:25:55.240 align:start position:0% clients and full clients agree that 00:25:55.240 --> 00:25:56.510 align:start position:0% clients and full clients agree that they'll<00:25:55.520> use<00:25:55.720> some<00:25:55.880> checkpoint<00:25:56.279> on<00:25:56.399> some 00:25:56.510 --> 00:25:56.520 align:start position:0% they'll use some checkpoint on some 00:25:56.520 --> 00:25:59.630 align:start position:0% they'll use some checkpoint on some other<00:25:56.720> chain<00:25:57.000> in<00:25:57.120> order<00:25:57.360> to<00:25:58.520> authenticate<00:25:59.520> the 00:25:59.630 --> 00:25:59.640 align:start position:0% other chain in order to authenticate the 00:25:59.640 --> 00:26:03.190 align:start position:0% other chain in order to authenticate the point<00:25:59.799> on<00:25:59.960> the<00:26:00.960> um<00:26:01.399> well<00:26:01.559> the<00:26:01.760> general<00:26:02.520> so 00:26:03.190 --> 00:26:03.200 align:start position:0% point on the um well the general so 00:26:03.200 --> 00:26:04.909 align:start position:0% point on the um well the general so challenge<00:26:03.640> response<00:26:04.000> toy<00:26:04.360> selection<00:26:04.799> we 00:26:04.909 --> 00:26:04.919 align:start position:0% challenge response toy selection we 00:26:04.919 --> 00:26:06.669 align:start position:0% challenge response toy selection we already<00:26:05.480> we<00:26:05.600> already<00:26:05.840> discussed<00:26:06.320> those<00:26:06.600> in 00:26:06.669 --> 00:26:06.679 align:start position:0% already we already discussed those in 00:26:06.679 --> 00:26:09.149 align:start position:0% already we already discussed those in the<00:26:06.840> context<00:26:07.200> of<00:26:07.640> hypercube<00:26:08.640> um<00:26:08.799> in<00:26:08.960> the 00:26:09.149 --> 00:26:09.159 align:start position:0% the context of hypercube um in the 00:26:09.159 --> 00:26:12.389 align:start position:0% the context of hypercube um in the context<00:26:09.840> of<00:26:10.320> of<00:26:10.679> multichain<00:26:11.679> actually<00:26:12.240> well 00:26:12.389 --> 00:26:12.399 align:start position:0% context of of multichain actually well 00:26:12.399 --> 00:26:13.870 align:start position:0% context of of multichain actually well challenge<00:26:12.799> response<00:26:13.200> in<00:26:13.320> my<00:26:13.440> opinion<00:26:13.720> does 00:26:13.870 --> 00:26:13.880 align:start position:0% challenge response in my opinion does 00:26:13.880 --> 00:26:15.669 align:start position:0% challenge response in my opinion does not<00:26:14.000> nearly<00:26:14.320> as<00:26:14.480> go<00:26:14.600> as<00:26:14.720> jury<00:26:15.000> selection<00:26:15.440> we'll 00:26:15.669 --> 00:26:15.679 align:start position:0% not nearly as go as jury selection we'll 00:26:15.679 --> 00:26:16.789 align:start position:0% not nearly as go as jury selection we'll probably<00:26:15.919> talk<00:26:16.080> more<00:26:16.240> about<00:26:16.399> how<00:26:16.520> jury 00:26:16.789 --> 00:26:16.799 align:start position:0% probably talk more about how jury 00:26:16.799 --> 00:26:19.110 align:start position:0% probably talk more about how jury selection<00:26:17.159> Works<00:26:17.360> in<00:26:17.760> multichain<00:26:18.760> so<00:26:18.960> the 00:26:19.110 --> 00:26:19.120 align:start position:0% selection Works in multichain so the 00:26:19.120 --> 00:26:22.190 align:start position:0% selection Works in multichain so the idea<00:26:19.559> is<00:26:19.840> you<00:26:19.919> would<00:26:20.240> have<00:26:20.840> a<00:26:21.039> big<00:26:21.240> a<00:26:21.440> chain<00:26:22.080> and 00:26:22.190 --> 00:26:22.200 align:start position:0% idea is you would have a big a chain and 00:26:22.200 --> 00:26:24.190 align:start position:0% idea is you would have a big a chain and then<00:26:22.480> on<00:26:22.679> that<00:26:22.880> chain<00:26:23.240> you<00:26:23.320> would<00:26:23.600> have<00:26:23.880> so<00:26:24.120> you 00:26:24.190 --> 00:26:24.200 align:start position:0% then on that chain you would have so you 00:26:24.200 --> 00:26:25.190 align:start position:0% then on that chain you would have so you would<00:26:24.360> have<00:26:24.559> this<00:26:24.720> kind<00:26:24.880> of<00:26:25.000> you<00:26:25.120> know 00:26:25.190 --> 00:26:25.200 align:start position:0% would have this kind of you know 00:26:25.200 --> 00:26:27.470 align:start position:0% would have this kind of you know shelling<00:26:25.600> coin<00:26:25.919> consensus<00:26:26.520> thing<00:26:27.240> and<00:26:27.399> you 00:26:27.470 --> 00:26:27.480 align:start position:0% shelling coin consensus thing and you 00:26:27.480 --> 00:26:28.789 align:start position:0% shelling coin consensus thing and you would<00:26:27.640> have<00:26:27.840> and<00:26:27.919> you<00:26:28.039> have<00:26:28.120> a<00:26:28.440> and<00:26:28.520> you<00:26:28.600> have<00:26:28.679> a 00:26:28.789 --> 00:26:28.799 align:start position:0% would have and you have a and you have a 00:26:28.799 --> 00:26:30.510 align:start position:0% would have and you have a and you have a bunch<00:26:28.960> of<00:26:29.080> users<00:26:29.520> that<00:26:29.720> have<00:26:29.919> some<00:26:30.279> that<00:26:30.440> you 00:26:30.510 --> 00:26:30.520 align:start position:0% bunch of users that have some that you 00:26:30.520 --> 00:26:32.190 align:start position:0% bunch of users that have some that you know<00:26:30.760> that<00:26:30.919> participate<00:26:31.399> in<00:26:31.520> it<00:26:31.880> and<00:26:32.039> by 00:26:32.190 --> 00:26:32.200 align:start position:0% know that participate in it and by 00:26:32.200 --> 00:26:33.389 align:start position:0% know that participate in it and by participating<00:26:32.720> we<00:26:32.840> basically<00:26:33.120> just<00:26:33.200> mean 00:26:33.389 --> 00:26:33.399 align:start position:0% participating we basically just mean 00:26:33.399 --> 00:26:35.870 align:start position:0% participating we basically just mean having<00:26:33.559> a<00:26:33.720> security<00:26:34.080> deposit<00:26:34.440> on<00:26:34.720> here<00:26:35.720> then 00:26:35.870 --> 00:26:35.880 align:start position:0% having a security deposit on here then 00:26:35.880 --> 00:26:38.430 align:start position:0% having a security deposit on here then you<00:26:36.080> have<00:26:36.480> some<00:26:36.919> you<00:26:37.000> know<00:26:37.120> some<00:26:37.320> chain<00:26:37.640> X<00:26:38.279> and 00:26:38.430 --> 00:26:38.440 align:start position:0% you have some you know some chain X and 00:26:38.440 --> 00:26:40.630 align:start position:0% you have some you know some chain X and that<00:26:38.559> chain<00:26:38.840> X<00:26:39.320> wants<00:26:39.600> to<00:26:39.919> wants<00:26:40.120> to<00:26:40.279> leverage 00:26:40.630 --> 00:26:40.640 align:start position:0% that chain X wants to wants to leverage 00:26:40.640 --> 00:26:42.070 align:start position:0% that chain X wants to wants to leverage this<00:26:40.760> little<00:26:41.080> contract<00:26:41.440> for<00:26:41.559> its<00:26:41.679> security 00:26:42.070 --> 00:26:42.080 align:start position:0% this little contract for its security 00:26:42.080 --> 00:26:44.430 align:start position:0% this little contract for its security because<00:26:42.279> X<00:26:42.480> isn't<00:26:42.679> big<00:26:42.880> enough<00:26:43.120> by<00:26:43.240> itself<00:26:44.080> so 00:26:44.430 --> 00:26:44.440 align:start position:0% because X isn't big enough by itself so 00:26:44.440 --> 00:26:47.350 align:start position:0% because X isn't big enough by itself so what<00:26:44.520> it<00:26:44.640> would<00:26:44.840> do<00:26:45.279> is<00:26:46.279> basically<00:26:46.799> this<00:26:46.960> is 00:26:47.350 --> 00:26:47.360 align:start position:0% what it would do is basically this is 00:26:47.360 --> 00:26:48.830 align:start position:0% what it would do is basically this is this<00:26:47.520> consensus<00:26:48.000> contract<00:26:48.360> it's<00:26:48.559> kind<00:26:48.679> of 00:26:48.830 --> 00:26:48.840 align:start position:0% this consensus contract it's kind of 00:26:48.840 --> 00:26:51.070 align:start position:0% this consensus contract it's kind of like<00:26:49.000> truth<00:26:49.399> coin<00:26:49.799> it's<00:26:50.240> this<00:26:50.440> decentralized 00:26:51.070 --> 00:26:51.080 align:start position:0% like truth coin it's this decentralized 00:26:51.080 --> 00:26:53.630 align:start position:0% like truth coin it's this decentralized sort<00:26:51.200> of<00:26:51.320> shelling<00:26:51.919> coin<00:26:52.919> massively<00:26:53.320> multi- 00:26:53.630 --> 00:26:53.640 align:start position:0% sort of shelling coin massively multi- 00:26:53.640 --> 00:26:56.350 align:start position:0% sort of shelling coin massively multi- shelling<00:26:53.919> coin<00:26:54.159> type<00:26:54.520> Oracle<00:26:55.520> except<00:26:56.200> the 00:26:56.350 --> 00:26:56.360 align:start position:0% shelling coin type Oracle except the 00:26:56.360 --> 00:26:58.549 align:start position:0% shelling coin type Oracle except the thing<00:26:56.600> that<00:26:56.720> it's<00:26:56.919> voting<00:26:57.240> on<00:26:57.559> is<00:26:57.720> it's<00:26:57.919> voting 00:26:58.549 --> 00:26:58.559 align:start position:0% thing that it's voting on is it's voting 00:26:58.559 --> 00:27:01.909 align:start position:0% thing that it's voting on is it's voting on<00:26:59.200> the<00:26:59.440> first<00:27:00.039> oh<00:27:00.880> so<00:27:01.159> what<00:27:01.279> it<00:27:01.480> provides<00:27:01.799> is 00:27:01.909 --> 00:27:01.919 align:start position:0% on the first oh so what it provides is 00:27:01.919 --> 00:27:04.230 align:start position:0% on the first oh so what it provides is it<00:27:02.080> provides<00:27:02.360> a<00:27:02.520> block<00:27:03.520> and<00:27:03.679> the<00:27:03.799> block 00:27:04.230 --> 00:27:04.240 align:start position:0% it provides a block and the block 00:27:04.240 --> 00:27:05.909 align:start position:0% it provides a block and the block provides<00:27:04.600> you<00:27:04.720> know<00:27:04.919> State<00:27:05.360> it's<00:27:05.520> got<00:27:05.600> a<00:27:05.720> state 00:27:05.909 --> 00:27:05.919 align:start position:0% provides you know State it's got a state 00:27:05.919 --> 00:27:07.190 align:start position:0% provides you know State it's got a state route<00:27:06.320> it's<00:27:06.480> got 00:27:07.190 --> 00:27:07.200 align:start position:0% route it's got 00:27:07.200 --> 00:27:09.389 align:start position:0% route it's got transactions<00:27:08.200> and<00:27:08.320> it's<00:27:08.520> also<00:27:08.760> got<00:27:08.880> a<00:27:09.080> time 00:27:09.389 --> 00:27:09.399 align:start position:0% transactions and it's also got a time 00:27:09.399 --> 00:27:12.430 align:start position:0% transactions and it's also got a time stamp<00:27:10.399> and<00:27:10.679> it's<00:27:11.240> and<00:27:11.559> from<00:27:11.720> the<00:27:11.880> transaction 00:27:12.430 --> 00:27:12.440 align:start position:0% stamp and it's and from the transaction 00:27:12.440 --> 00:27:14.269 align:start position:0% stamp and it's and from the transaction tree<00:27:13.159> you<00:27:13.279> know<00:27:13.399> it's<00:27:13.520> got<00:27:13.600> a<00:27:13.679> meracle<00:27:14.000> tree 00:27:14.269 --> 00:27:14.279 align:start position:0% tree you know it's got a meracle tree 00:27:14.279 --> 00:27:16.149 align:start position:0% tree you know it's got a meracle tree here<00:27:14.399> and<00:27:14.480> it's<00:27:14.600> got<00:27:14.720> a<00:27:14.799> Merle<00:27:15.080> tree<00:27:15.440> here<00:27:15.960> so 00:27:16.149 --> 00:27:16.159 align:start position:0% here and it's got a Merle tree here so 00:27:16.159 --> 00:27:17.350 align:start position:0% here and it's got a Merle tree here so the<00:27:16.279> question<00:27:16.559> that<00:27:16.679> this<00:27:16.799> thing<00:27:16.919> is<00:27:17.080> voting 00:27:17.350 --> 00:27:17.360 align:start position:0% the question that this thing is voting 00:27:17.360 --> 00:27:20.510 align:start position:0% the question that this thing is voting on<00:27:17.720> is<00:27:18.120> uh<00:27:18.720> it'll<00:27:19.039> take<00:27:19.240> it'll<00:27:19.559> take<00:27:19.760> the<00:27:19.960> and 00:27:20.510 --> 00:27:20.520 align:start position:0% on is uh it'll take it'll take the and 00:27:20.520 --> 00:27:24.310 align:start position:0% on is uh it'll take it'll take the and of<00:27:20.720> three<00:27:21.000> things<00:27:21.679> number<00:27:21.960> one<00:27:22.760> is<00:27:23.159> the<00:27:24.120> does 00:27:24.310 --> 00:27:24.320 align:start position:0% of three things number one is the does 00:27:24.320 --> 00:27:25.549 align:start position:0% of three things number one is the does the 00:27:25.549 --> 00:27:25.559 align:start position:0% the 00:27:25.559 --> 00:27:28.470 align:start position:0% the time<00:27:26.559> does<00:27:26.720> the<00:27:26.919> time<00:27:27.120> stamp<00:27:27.480> on<00:27:27.600> the<00:27:27.720> Block 00:27:28.470 --> 00:27:28.480 align:start position:0% time does the time stamp on the Block 00:27:28.480 --> 00:27:32.430 align:start position:0% time does the time stamp on the Block equal<00:27:28.760> to<00:27:28.919> the<00:27:29.080> actual<00:27:29.480> time<00:27:30.320> number<00:27:30.799> and<00:27:31.440> um 00:27:32.430 --> 00:27:32.440 align:start position:0% equal to the actual time number and um 00:27:32.440 --> 00:27:36.310 align:start position:0% equal to the actual time number and um number<00:27:32.840> two<00:27:33.840> is<00:27:34.360> uh<00:27:35.200> number<00:27:35.440> two<00:27:35.720> is<00:27:35.960> that 00:27:36.310 --> 00:27:36.320 align:start position:0% number two is uh number two is that 00:27:36.320 --> 00:27:40.430 align:start position:0% number two is uh number two is that available 00:27:40.430 --> 00:27:40.440 align:start position:0% 00:27:40.440 --> 00:27:43.509 align:start position:0% so<00:27:41.440> by<00:27:41.679> is<00:27:41.880> that<00:27:42.120> available<00:27:42.559> do<00:27:42.720> we<00:27:42.880> mean<00:27:43.399> if 00:27:43.509 --> 00:27:43.519 align:start position:0% so by is that available do we mean if 00:27:43.519 --> 00:27:45.909 align:start position:0% so by is that available do we mean if you<00:27:43.720> descend<00:27:44.200> from<00:27:44.399> numerical<00:27:44.840> route<00:27:45.279> is<00:27:45.760> is 00:27:45.909 --> 00:27:45.919 align:start position:0% you descend from numerical route is is 00:27:45.919 --> 00:27:47.710 align:start position:0% you descend from numerical route is is there<00:27:46.240> data<00:27:46.519> floating<00:27:47.000> around<00:27:47.279> somewhere<00:27:47.640> in 00:27:47.710 --> 00:27:47.720 align:start position:0% there data floating around somewhere in 00:27:47.720 --> 00:27:50.269 align:start position:0% there data floating around somewhere in the<00:27:47.880> network<00:27:48.360> corresponding<00:27:49.000> to<00:27:49.640> all<00:27:49.799> of<00:27:49.960> the 00:27:50.269 --> 00:27:50.279 align:start position:0% the network corresponding to all of the 00:27:50.279 --> 00:27:51.710 align:start position:0% the network corresponding to all of the all<00:27:50.399> of<00:27:50.519> the<00:27:50.600> leaves<00:27:50.919> of<00:27:51.120> this<00:27:51.279> going<00:27:51.519> all<00:27:51.640> the 00:27:51.710 --> 00:27:51.720 align:start position:0% all of the leaves of this going all the 00:27:51.720 --> 00:27:54.630 align:start position:0% all of the leaves of this going all the way<00:27:51.840> down<00:27:51.960> on<00:27:52.120> the<00:27:52.240> bottom<00:27:52.559> level<00:27:53.519> so<00:27:54.360> the<00:27:54.480> the 00:27:54.630 --> 00:27:54.640 align:start position:0% way down on the bottom level so the the 00:27:54.640 --> 00:27:56.630 align:start position:0% way down on the bottom level so the the idea<00:27:54.919> is<00:27:55.000> that<00:27:55.159> this<00:27:55.360> big<00:27:55.799> this<00:27:55.960> big<00:27:56.200> thing 00:27:56.630 --> 00:27:56.640 align:start position:0% idea is that this big this big thing 00:27:56.640 --> 00:28:00.110 align:start position:0% idea is that this big this big thing uses<00:27:57.640> votes<00:27:57.960> on<00:27:58.240> on<00:27:58.720> this<00:27:58.919> statement<00:27:59.760> is<00:28:00.000> did 00:28:00.110 --> 00:28:00.120 align:start position:0% uses votes on on this statement is did 00:28:00.120 --> 00:28:02.070 align:start position:0% uses votes on on this statement is did the<00:28:00.240> block<00:28:00.559> come<00:28:00.720> at<00:28:00.840> the<00:28:01.000> right<00:28:01.600> at<00:28:01.720> the<00:28:01.840> time 00:28:02.070 --> 00:28:02.080 align:start position:0% the block come at the right at the time 00:28:02.080 --> 00:28:04.269 align:start position:0% the block come at the right at the time that<00:28:02.159> it<00:28:02.320> said<00:28:02.480> that<00:28:02.600> it<00:28:02.760> came<00:28:03.000> at<00:28:03.640> and<00:28:03.919> is<00:28:04.120> and 00:28:04.269 --> 00:28:04.279 align:start position:0% that it said that it came at and is and 00:28:04.279 --> 00:28:07.110 align:start position:0% that it said that it came at and is and does<00:28:04.399> the<00:28:04.480> block<00:28:04.679> have<00:28:04.880> that<00:28:05.360> available 00:28:07.110 --> 00:28:07.120 align:start position:0% does the block have that available 00:28:07.120 --> 00:28:10.070 align:start position:0% does the block have that available and<00:28:08.120> so<00:28:08.440> then<00:28:08.720> what<00:28:08.799> you<00:28:09.120> have<00:28:09.360> is<00:28:09.640> you<00:28:09.760> would 00:28:10.070 --> 00:28:10.080 align:start position:0% and so then what you have is you would 00:28:10.080 --> 00:28:12.509 align:start position:0% and so then what you have is you would have<00:28:11.080> you<00:28:11.200> would<00:28:11.360> have<00:28:11.519> a<00:28:11.640> trustworthy<00:28:12.399> a 00:28:12.509 --> 00:28:12.519 align:start position:0% have you would have a trustworthy a 00:28:12.519 --> 00:28:15.110 align:start position:0% have you would have a trustworthy a trustworthy<00:28:13.120> source<00:28:13.799> of<00:28:14.399> blocks<00:28:14.760> that<00:28:14.919> have 00:28:15.110 --> 00:28:15.120 align:start position:0% trustworthy source of blocks that have 00:28:15.120 --> 00:28:16.590 align:start position:0% trustworthy source of blocks that have data<00:28:15.399> available<00:28:15.880> and<00:28:16.039> that<00:28:16.200> came<00:28:16.360> at<00:28:16.440> a 00:28:16.590 --> 00:28:16.600 align:start position:0% data available and that came at a 00:28:16.600 --> 00:28:19.350 align:start position:0% data available and that came at a particular<00:28:17.080> time<00:28:17.760> now<00:28:18.000> given<00:28:18.360> that<00:28:19.039> if<00:28:19.159> you 00:28:19.350 --> 00:28:19.360 align:start position:0% particular time now given that if you 00:28:19.360 --> 00:28:20.549 align:start position:0% particular time now given that if you assume<00:28:19.679> that<00:28:19.840> that<00:28:19.960> mechanism<00:28:20.399> is 00:28:20.549 --> 00:28:20.559 align:start position:0% assume that that mechanism is 00:28:20.559 --> 00:28:22.509 align:start position:0% assume that that mechanism is trustworthy<00:28:21.320> then<00:28:21.480> it<00:28:21.559> turn<00:28:21.799> Z<00:28:22.039> consensus 00:28:22.509 --> 00:28:22.519 align:start position:0% trustworthy then it turn Z consensus 00:28:22.519 --> 00:28:25.029 align:start position:0% trustworthy then it turn Z consensus becomes<00:28:22.840> trivial<00:28:23.760> because<00:28:24.320> your<00:28:24.519> consensus 00:28:25.029 --> 00:28:25.039 align:start position:0% becomes trivial because your consensus 00:28:25.039 --> 00:28:26.590 align:start position:0% becomes trivial because your consensus algorithm<00:28:25.600> basically<00:28:26.039> is<00:28:26.240> that<00:28:26.399> if<00:28:26.480> you 00:28:26.590 --> 00:28:26.600 align:start position:0% algorithm basically is that if you 00:28:26.600 --> 00:28:28.669 align:start position:0% algorithm basically is that if you imagine<00:28:27.039> blocks<00:28:27.880> that<00:28:27.960> are<00:28:28.399> at<00:28:28.480> some 00:28:28.669 --> 00:28:28.679 align:start position:0% imagine blocks that are at some 00:28:28.679 --> 00:28:31.350 align:start position:0% imagine blocks that are at some particular<00:28:29.159> height<00:28:29.720> your<00:28:29.960> algorithm<00:28:30.600> is<00:28:31.159> a 00:28:31.350 --> 00:28:31.360 align:start position:0% particular height your algorithm is a 00:28:31.360 --> 00:28:33.710 align:start position:0% particular height your algorithm is a block<00:28:31.720> at<00:28:32.000> a<00:28:32.200> block<00:28:32.440> at<00:28:32.559> a<00:28:32.760> particular<00:28:33.240> height 00:28:33.710 --> 00:28:33.720 align:start position:0% block at a block at a particular height 00:28:33.720 --> 00:28:36.509 align:start position:0% block at a block at a particular height is<00:28:33.960> only<00:28:34.360> valid<00:28:34.919> if<00:28:35.279> it<00:28:35.399> is<00:28:35.559> the<00:28:35.679> first<00:28:36.080> block 00:28:36.509 --> 00:28:36.519 align:start position:0% is only valid if it is the first block 00:28:36.519 --> 00:28:38.430 align:start position:0% is only valid if it is the first block at<00:28:36.799> if<00:28:36.880> it<00:28:37.000> is<00:28:37.120> the<00:28:37.279> first<00:28:37.640> valid<00:28:37.960> block<00:28:38.279> at 00:28:38.430 --> 00:28:38.440 align:start position:0% at if it is the first valid block at 00:28:38.440 --> 00:28:40.630 align:start position:0% at if it is the first valid block at that<00:28:38.640> height<00:28:39.399> so<00:28:39.919> you<00:28:40.000> know<00:28:40.120> if<00:28:40.240> it's<00:28:40.399> over 00:28:40.630 --> 00:28:40.640 align:start position:0% that height so you know if it's over 00:28:40.640 --> 00:28:42.029 align:start position:0% that height so you know if it's over here<00:28:40.760> and<00:28:40.880> then<00:28:41.000> some<00:28:41.200> new<00:28:41.320> one<00:28:41.480> comes<00:28:41.720> along 00:28:42.029 --> 00:28:42.039 align:start position:0% here and then some new one comes along 00:28:42.039 --> 00:28:43.669 align:start position:0% here and then some new one comes along this<00:28:42.120> one<00:28:42.240> automatically<00:28:42.720> gets<00:28:42.919> rejected 00:28:43.669 --> 00:28:43.679 align:start position:0% this one automatically gets rejected 00:28:43.679 --> 00:28:46.110 align:start position:0% this one automatically gets rejected even<00:28:43.919> if<00:28:44.080> it<00:28:44.200> eventually<00:28:44.559> grows<00:28:44.960> longer<00:28:45.960> and 00:28:46.110 --> 00:28:46.120 align:start position:0% even if it eventually grows longer and 00:28:46.120 --> 00:28:48.350 align:start position:0% even if it eventually grows longer and the<00:28:46.200> way<00:28:46.360> that<00:28:46.440> you<00:28:46.600> defend<00:28:47.080> that<00:28:47.399> is<00:28:47.640> you<00:28:48.000> well 00:28:48.350 --> 00:28:48.360 align:start position:0% the way that you defend that is you well 00:28:48.360 --> 00:28:49.990 align:start position:0% the way that you defend that is you well the<00:28:48.480> way<00:28:48.640> that<00:28:48.720> you<00:28:48.880> deter<00:28:49.480> the<00:28:49.559> way<00:28:49.760> you<00:28:49.880> sort 00:28:49.990 --> 00:28:50.000 align:start position:0% the way that you deter the way you sort 00:28:50.000 --> 00:28:51.590 align:start position:0% the way that you deter the way you sort of<00:28:50.159> make<00:28:50.360> this<00:28:50.519> work<00:28:50.840> is<00:28:50.960> that<00:28:51.159> first<00:28:51.320> of<00:28:51.440> all 00:28:51.590 --> 00:28:51.600 align:start position:0% of make this work is that first of all 00:28:51.600 --> 00:28:53.750 align:start position:0% of make this work is that first of all you<00:28:51.720> know<00:28:51.919> that<00:28:52.919> so<00:28:53.080> the<00:28:53.159> way<00:28:53.279> you<00:28:53.360> determine 00:28:53.750 --> 00:28:53.760 align:start position:0% you know that so the way you determine 00:28:53.760 --> 00:28:55.789 align:start position:0% you know that so the way you determine the<00:28:53.960> time<00:28:54.519> is<00:28:54.720> by<00:28:54.880> checking<00:28:55.159> the<00:28:55.279> Oracle<00:28:55.720> to 00:28:55.789 --> 00:28:55.799 align:start position:0% the time is by checking the Oracle to 00:28:55.799 --> 00:28:58.149 align:start position:0% the time is by checking the Oracle to see<00:28:55.919> if<00:28:56.000> in<00:28:56.120> a<00:28:56.279> time<00:28:56.440> stamp<00:28:56.760> M<00:28:57.039> if<00:28:57.440> to<00:28:57.559> see<00:28:57.919> what 00:28:58.149 --> 00:28:58.159 align:start position:0% see if in a time stamp M if to see what 00:28:58.159 --> 00:29:00.870 align:start position:0% see if in a time stamp M if to see what the<00:28:58.240> time<00:28:58.480> stamp<00:28:58.840> is<00:28:59.640> the<00:28:59.799> way<00:29:00.039> that<00:29:00.240> you<00:29:00.720> the 00:29:00.870 --> 00:29:00.880 align:start position:0% the time stamp is the way that you the 00:29:00.880 --> 00:29:03.269 align:start position:0% the time stamp is the way that you the way<00:29:01.039> that<00:29:01.120> you<00:29:01.240> determine<00:29:01.679> validity<00:29:02.360> is<00:29:03.080> first 00:29:03.269 --> 00:29:03.279 align:start position:0% way that you determine validity is first 00:29:03.279 --> 00:29:04.750 align:start position:0% way that you determine validity is first of<00:29:03.399> all<00:29:03.519> if<00:29:03.600> the<00:29:03.760> data<00:29:03.960> is<00:29:04.080> not<00:29:04.240> available<00:29:04.640> then 00:29:04.750 --> 00:29:04.760 align:start position:0% of all if the data is not available then 00:29:04.760 --> 00:29:06.750 align:start position:0% of all if the data is not available then you<00:29:04.840> say<00:29:05.039> it's<00:29:05.240> invalid<00:29:06.159> now<00:29:06.279> it<00:29:06.440> could<00:29:06.600> be 00:29:06.750 --> 00:29:06.760 align:start position:0% you say it's invalid now it could be 00:29:06.760 --> 00:29:08.070 align:start position:0% you say it's invalid now it could be that<00:29:06.880> the<00:29:07.000> data<00:29:07.200> is<00:29:07.320> available<00:29:07.679> but<00:29:07.760> the<00:29:07.840> block 00:29:08.070 --> 00:29:08.080 align:start position:0% that the data is available but the block 00:29:08.080 --> 00:29:10.149 align:start position:0% that the data is available but the block is<00:29:08.240> invalid<00:29:09.039> but<00:29:09.240> then<00:29:09.480> because<00:29:09.679> the<00:29:09.840> data<00:29:10.039> is 00:29:10.149 --> 00:29:10.159 align:start position:0% is invalid but then because the data is 00:29:10.159 --> 00:29:12.430 align:start position:0% is invalid but then because the data is available<00:29:10.600> anyone<00:29:10.919> can<00:29:11.080> audit<00:29:11.399> the<00:29:11.519> block<00:29:12.159> and 00:29:12.430 --> 00:29:12.440 align:start position:0% available anyone can audit the block and 00:29:12.440 --> 00:29:14.070 align:start position:0% available anyone can audit the block and anyone<00:29:12.760> can<00:29:12.919> come<00:29:13.080> up<00:29:13.159> with<00:29:13.279> a<00:29:13.360> oral<00:29:13.640> Tre<00:29:13.840> proof 00:29:14.070 --> 00:29:14.080 align:start position:0% anyone can come up with a oral Tre proof 00:29:14.080 --> 00:29:16.909 align:start position:0% anyone can come up with a oral Tre proof that<00:29:14.200> it's<00:29:14.320> invalid<00:29:14.760> if<00:29:14.840> it<00:29:15.159> if<00:29:15.240> it<00:29:15.399> is<00:29:15.919> invalid 00:29:16.909 --> 00:29:16.919 align:start position:0% that it's invalid if it if it is invalid 00:29:16.919 --> 00:29:19.389 align:start position:0% that it's invalid if it if it is invalid and<00:29:17.360> so<00:29:17.679> this<00:29:17.799> is<00:29:18.000> kind<00:29:18.120> of<00:29:18.320> like<00:29:18.640> full<00:29:19.039> client 00:29:19.389 --> 00:29:19.399 align:start position:0% and so this is kind of like full client 00:29:19.399 --> 00:29:20.789 align:start position:0% and so this is kind of like full client security<00:29:19.799> this<00:29:20.039> does<00:29:20.279> like<00:29:20.480> all<00:29:20.600> of<00:29:20.720> the 00:29:20.789 --> 00:29:20.799 align:start position:0% security this does like all of the 00:29:20.799 --> 00:29:22.350 align:start position:0% security this does like all of the security<00:29:21.120> needs<00:29:21.320> of<00:29:21.399> a<00:29:21.480> blockchain<00:29:21.919> right<00:29:22.240> one 00:29:22.350 --> 00:29:22.360 align:start position:0% security needs of a blockchain right one 00:29:22.360 --> 00:29:23.669 align:start position:0% security needs of a blockchain right one thing<00:29:22.480> to<00:29:22.600> not<00:29:22.799> is<00:29:22.880> that<00:29:23.080> full<00:29:23.320> clients<00:29:23.600> and 00:29:23.669 --> 00:29:23.679 align:start position:0% thing to not is that full clients and 00:29:23.679 --> 00:29:25.029 align:start position:0% thing to not is that full clients and light<00:29:23.880> clients<00:29:24.240> have<00:29:24.440> different<00:29:24.640> amount<00:29:24.880> of 00:29:25.029 --> 00:29:25.039 align:start position:0% light clients have different amount of 00:29:25.039 --> 00:29:26.149 align:start position:0% light clients have different amount of information<00:29:25.399> that<00:29:25.559> they<00:29:25.640> can<00:29:25.760> use<00:29:25.919> to 00:29:26.149 --> 00:29:26.159 align:start position:0% information that they can use to 00:29:26.159 --> 00:29:28.310 align:start position:0% information that they can use to authenticate<00:29:26.640> different<00:29:26.919> things<00:29:27.559> and<00:29:28.120> so 00:29:28.310 --> 00:29:28.320 align:start position:0% authenticate different things and so 00:29:28.320 --> 00:29:30.909 align:start position:0% authenticate different things and so that<00:29:28.799> you<00:29:29.000> could<00:29:29.600> if<00:29:29.720> you<00:29:29.919> have<00:29:30.200> security<00:29:30.679> for 00:29:30.909 --> 00:29:30.919 align:start position:0% that you could if you have security for 00:29:30.919 --> 00:29:33.549 align:start position:0% that you could if you have security for full<00:29:31.240> clients<00:29:32.039> but<00:29:32.159> not<00:29:32.320> for<00:29:32.519> light<00:29:32.840> clients 00:29:33.549 --> 00:29:33.559 align:start position:0% full clients but not for light clients 00:29:33.559 --> 00:29:35.509 align:start position:0% full clients but not for light clients then<00:29:33.760> you<00:29:33.880> can<00:29:34.120> do<00:29:34.480> something<00:29:34.840> kind<00:29:34.960> of<00:29:35.120> much 00:29:35.509 --> 00:29:35.519 align:start position:0% then you can do something kind of much 00:29:35.519 --> 00:29:37.190 align:start position:0% then you can do something kind of much less<00:29:35.840> than<00:29:36.080> this<00:29:36.279> in<00:29:36.399> order<00:29:36.600> to<00:29:36.720> help<00:29:36.880> the<00:29:37.000> like 00:29:37.190 --> 00:29:37.200 align:start position:0% less than this in order to help the like 00:29:37.200 --> 00:29:41.389 align:start position:0% less than this in order to help the like clients<00:29:37.559> find<00:29:38.039> the<00:29:38.519> authentic<00:29:38.960> chain<00:29:39.919> um 00:29:41.389 --> 00:29:41.399 align:start position:0% clients find the authentic chain um 00:29:41.399 --> 00:29:43.830 align:start position:0% clients find the authentic chain um so<00:29:42.399> basically<00:29:43.080> uh<00:29:43.399> one<00:29:43.519> thing<00:29:43.640> that's 00:29:43.830 --> 00:29:43.840 align:start position:0% so basically uh one thing that's 00:29:43.840 --> 00:29:45.230 align:start position:0% so basically uh one thing that's important<00:29:44.120> for<00:29:44.240> multi-<00:29:44.480> Chain<00:29:44.720> Solutions<00:29:45.120> in 00:29:45.230 --> 00:29:45.240 align:start position:0% important for multi- Chain Solutions in 00:29:45.240 --> 00:29:47.470 align:start position:0% important for multi- Chain Solutions in my<00:29:45.399> view<00:29:45.760> and<00:29:46.519> uh<00:29:46.640> this<00:29:46.720> is<00:29:46.880> kind<00:29:47.000> of<00:29:47.159> like<00:29:47.360> my 00:29:47.470 --> 00:29:47.480 align:start position:0% my view and uh this is kind of like my 00:29:47.480 --> 00:29:49.110 align:start position:0% my view and uh this is kind of like my vision<00:29:47.720> for<00:29:47.880> ethereum<00:29:48.240> 2.0<00:29:48.720> is<00:29:48.799> that<00:29:48.919> we<00:29:49.000> would 00:29:49.110 --> 00:29:49.120 align:start position:0% vision for ethereum 2.0 is that we would 00:29:49.120 --> 00:29:51.509 align:start position:0% vision for ethereum 2.0 is that we would have<00:29:49.320> like<00:29:49.519> one<00:29:49.799> like<00:29:50.080> client<00:29:50.440> protocol<00:29:51.360> at 00:29:51.509 --> 00:29:51.519 align:start position:0% have like one like client protocol at 00:29:51.519 --> 00:29:54.070 align:start position:0% have like one like client protocol at least<00:29:52.159> for<00:29:52.600> all<00:29:52.760> of<00:29:52.919> these<00:29:53.080> chains<00:29:53.519> so<00:29:53.640> that<00:29:54.000> a 00:29:54.070 --> 00:29:54.080 align:start position:0% least for all of these chains so that a 00:29:54.080 --> 00:29:55.470 align:start position:0% least for all of these chains so that a single<00:29:54.320> light<00:29:54.519> CLI<00:29:54.760> can<00:29:54.919> access<00:29:55.159> services 00:29:55.470 --> 00:29:55.480 align:start position:0% single light CLI can access services 00:29:55.480 --> 00:29:57.509 align:start position:0% single light CLI can access services from<00:29:55.640> all<00:29:55.799> these<00:29:55.919> chains<00:29:56.519> and<00:29:56.600> so<00:29:56.919> for<00:29:57.039> example 00:29:57.509 --> 00:29:57.519 align:start position:0% from all these chains and so for example 00:29:57.519 --> 00:30:00.669 align:start position:0% from all these chains and so for example if<00:29:57.640> we<00:29:57.799> had<00:29:58.320> uh<00:29:59.320> if<00:29:59.559> if<00:29:59.679> we<00:29:59.880> have<00:30:00.120> some<00:30:00.320> chain 00:30:00.669 --> 00:30:00.679 align:start position:0% if we had uh if if we have some chain 00:30:00.679 --> 00:30:02.750 align:start position:0% if we had uh if if we have some chain that's<00:30:01.519> kind<00:30:01.640> of<00:30:01.840> secure<00:30:02.240> as<00:30:02.320> far<00:30:02.440> as<00:30:02.559> all<00:30:02.679> the 00:30:02.750 --> 00:30:02.760 align:start position:0% that's kind of secure as far as all the 00:30:02.760 --> 00:30:04.269 align:start position:0% that's kind of secure as far as all the full<00:30:02.960> clients<00:30:03.279> are<00:30:03.440> concerned<00:30:03.840> but<00:30:03.960> the<00:30:04.039> light 00:30:04.269 --> 00:30:04.279 align:start position:0% full clients are concerned but the light 00:30:04.279 --> 00:30:06.909 align:start position:0% full clients are concerned but the light clients<00:30:05.200> can't<00:30:05.440> tell<00:30:05.720> whether<00:30:06.000> some<00:30:06.200> Fork 00:30:06.909 --> 00:30:06.919 align:start position:0% clients can't tell whether some Fork 00:30:06.919 --> 00:30:08.669 align:start position:0% clients can't tell whether some Fork came<00:30:07.159> later<00:30:07.480> or<00:30:07.640> not<00:30:07.919> because<00:30:08.399> there's<00:30:08.519> no 00:30:08.669 --> 00:30:08.679 align:start position:0% came later or not because there's no 00:30:08.679 --> 00:30:10.710 align:start position:0% came later or not because there's no cryptographic<00:30:09.200> proof<00:30:09.399> of<00:30:09.559> that<00:30:10.159> uh<00:30:10.320> what<00:30:10.440> you 00:30:10.710 --> 00:30:10.720 align:start position:0% cryptographic proof of that uh what you 00:30:10.720 --> 00:30:12.190 align:start position:0% cryptographic proof of that uh what you what<00:30:10.840> you<00:30:10.919> could<00:30:11.080> do<00:30:11.279> is<00:30:11.440> basically<00:30:11.799> have<00:30:12.039> the 00:30:12.190 --> 00:30:12.200 align:start position:0% what you could do is basically have the 00:30:12.200 --> 00:30:14.430 align:start position:0% what you could do is basically have the people<00:30:12.440> on<00:30:12.640> this<00:30:12.799> chain<00:30:13.760> whenever<00:30:14.159> there's<00:30:14.320> a 00:30:14.430 --> 00:30:14.440 align:start position:0% people on this chain whenever there's a 00:30:14.440 --> 00:30:17.950 align:start position:0% people on this chain whenever there's a fork<00:30:15.240> or<00:30:15.640> every<00:30:15.880> so<00:30:16.120> often<00:30:16.960> buy<00:30:17.279> a<00:30:17.440> checkpoint 00:30:17.950 --> 00:30:17.960 align:start position:0% fork or every so often buy a checkpoint 00:30:17.960 --> 00:30:19.470 align:start position:0% fork or every so often buy a checkpoint from<00:30:18.120> a<00:30:18.200> shelling<00:30:18.559> coin<00:30:18.840> game<00:30:19.039> on<00:30:19.200> another 00:30:19.470 --> 00:30:19.480 align:start position:0% from a shelling coin game on another 00:30:19.480 --> 00:30:21.029 align:start position:0% from a shelling coin game on another chain<00:30:19.840> which<00:30:19.960> would<00:30:20.080> basically<00:30:20.399> instead<00:30:20.640> of 00:30:21.029 --> 00:30:21.039 align:start position:0% chain which would basically instead of 00:30:21.039 --> 00:30:22.669 align:start position:0% chain which would basically instead of going<00:30:21.399> on<00:30:21.600> this<00:30:21.799> walk<00:30:22.039> and<00:30:22.159> checking<00:30:22.399> the<00:30:22.480> time 00:30:22.669 --> 00:30:22.679 align:start position:0% going on this walk and checking the time 00:30:22.679 --> 00:30:24.149 align:start position:0% going on this walk and checking the time stamp<00:30:22.919> it<00:30:23.000> would<00:30:23.159> it<00:30:23.240> would<00:30:23.360> basically<00:30:23.919> just 00:30:24.149 --> 00:30:24.159 align:start position:0% stamp it would it would basically just 00:30:24.159 --> 00:30:26.549 align:start position:0% stamp it would it would basically just ask<00:30:24.799> you<00:30:24.919> know<00:30:25.320> what<00:30:25.440> is<00:30:25.559> the<00:30:25.720> consensus<00:30:26.200> block 00:30:26.549 --> 00:30:26.559 align:start position:0% ask you know what is the consensus block 00:30:26.559 --> 00:30:28.750 align:start position:0% ask you know what is the consensus block a<00:30:26.679> thousand<00:30:26.919> blocks<00:30:27.159> ago<00:30:28.120> because<00:30:28.360> you<00:30:28.440> know 00:30:28.750 --> 00:30:28.760 align:start position:0% a thousand blocks ago because you know 00:30:28.760 --> 00:30:30.070 align:start position:0% a thousand blocks ago because you know that's<00:30:29.039> kind<00:30:29.159> of<00:30:29.320> longer<00:30:29.600> than<00:30:29.720> the<00:30:29.799> fork 00:30:30.070 --> 00:30:30.080 align:start position:0% that's kind of longer than the fork 00:30:30.080 --> 00:30:31.909 align:start position:0% that's kind of longer than the fork length<00:30:30.360> and<00:30:30.519> so<00:30:30.720> basically<00:30:31.200> it<00:30:31.519> and<00:30:31.640> then<00:30:31.799> and 00:30:31.909 --> 00:30:31.919 align:start position:0% length and so basically it and then and 00:30:31.919 --> 00:30:33.870 align:start position:0% length and so basically it and then and then<00:30:32.159> like<00:30:32.399> clients<00:30:32.679> who<00:30:32.799> are<00:30:32.960> on<00:30:33.399> who<00:30:33.600> somehow 00:30:33.870 --> 00:30:33.880 align:start position:0% then like clients who are on who somehow 00:30:33.880 --> 00:30:35.789 align:start position:0% then like clients who are on who somehow manag<00:30:34.120> to<00:30:34.200> get<00:30:34.320> on<00:30:34.519> here<00:30:35.039> can<00:30:35.360> find<00:30:35.640> a 00:30:35.789 --> 00:30:35.799 align:start position:0% manag to get on here can find a 00:30:35.799 --> 00:30:37.389 align:start position:0% manag to get on here can find a checkpoint<00:30:36.279> on<00:30:36.480> this<00:30:36.600> one<00:30:37.039> which<00:30:37.159> you<00:30:37.240> can 00:30:37.389 --> 00:30:37.399 align:start position:0% checkpoint on this one which you can 00:30:37.399 --> 00:30:38.590 align:start position:0% checkpoint on this one which you can then<00:30:37.519> use<00:30:37.679> to<00:30:37.799> authenticate<00:30:38.240> the<00:30:38.320> current 00:30:38.590 --> 00:30:38.600 align:start position:0% then use to authenticate the current 00:30:38.600 --> 00:30:41.830 align:start position:0% then use to authenticate the current state<00:30:38.919> there<00:30:39.600> so<00:30:40.480> uh<00:30:40.880> in<00:30:41.039> in<00:30:41.159> this<00:30:41.320> kind<00:30:41.440> of 00:30:41.830 --> 00:30:41.840 align:start position:0% state there so uh in in this kind of 00:30:41.840 --> 00:30:45.389 align:start position:0% state there so uh in in this kind of model<00:30:42.840> we<00:30:42.919> can<00:30:43.120> make<00:30:43.360> like<00:30:43.559> a<00:30:44.360> a<00:30:44.760> a<00:30:44.919> tree<00:30:45.240> of 00:30:45.389 --> 00:30:45.399 align:start position:0% model we can make like a a a tree of 00:30:45.399 --> 00:30:46.909 align:start position:0% model we can make like a a a tree of checkpoints<00:30:45.919> so<00:30:46.039> that<00:30:46.200> like<00:30:46.440> clients<00:30:46.799> who 00:30:46.909 --> 00:30:46.919 align:start position:0% checkpoints so that like clients who 00:30:46.919 --> 00:30:49.070 align:start position:0% checkpoints so that like clients who only<00:30:47.120> has<00:30:47.320> one<00:30:47.480> or<00:30:47.600> a<00:30:47.720> handful<00:30:48.080> of<00:30:48.200> checkpoints 00:30:49.070 --> 00:30:49.080 align:start position:0% only has one or a handful of checkpoints 00:30:49.080 --> 00:30:52.070 align:start position:0% only has one or a handful of checkpoints could<00:30:49.840> U<00:30:50.720> authenticate<00:30:51.360> the<00:30:51.480> current<00:30:51.760> state 00:30:52.070 --> 00:30:52.080 align:start position:0% could U authenticate the current state 00:30:52.080 --> 00:30:54.950 align:start position:0% could U authenticate the current state of<00:30:52.440> of<00:30:52.600> other<00:30:52.919> chains<00:30:53.919> um<00:30:54.240> and<00:30:54.360> even<00:30:54.600> though<00:30:54.760> if 00:30:54.950 --> 00:30:54.960 align:start position:0% of of other chains um and even though if 00:30:54.960 --> 00:30:57.470 align:start position:0% of of other chains um and even though if those<00:30:55.080> chains<00:30:55.360> are<00:30:55.880> secure<00:30:56.480> for<00:30:56.639> full<00:30:57.000> clients 00:30:57.470 --> 00:30:57.480 align:start position:0% those chains are secure for full clients 00:30:57.480 --> 00:30:58.470 align:start position:0% those chains are secure for full clients just<00:30:57.679> by 00:30:58.470 --> 00:30:58.480 align:start position:0% just by 00:30:58.480 --> 00:31:00.909 align:start position:0% just by themselves<00:30:59.480> yes<00:30:59.639> so<00:30:59.919> yes<00:31:00.080> the<00:31:00.200> point<00:31:00.480> is<00:31:00.679> here 00:31:00.909 --> 00:31:00.919 align:start position:0% themselves yes so yes the point is here 00:31:00.919 --> 00:31:03.070 align:start position:0% themselves yes so yes the point is here is<00:31:01.279> there's<00:31:01.440> a<00:31:01.519> bit<00:31:01.639> of<00:31:01.720> a<00:31:01.840> trade-off<00:31:02.399> between 00:31:03.070 --> 00:31:03.080 align:start position:0% is there's a bit of a trade-off between 00:31:03.080 --> 00:31:05.110 align:start position:0% is there's a bit of a trade-off between to<00:31:03.279> what<00:31:03.440> extent<00:31:03.760> you<00:31:03.919> support<00:31:04.240> white<00:31:04.519> clients 00:31:05.110 --> 00:31:05.120 align:start position:0% to what extent you support white clients 00:31:05.120 --> 00:31:07.310 align:start position:0% to what extent you support white clients and<00:31:05.760> what<00:31:06.039> level<00:31:06.240> of<00:31:06.360> standardization<00:31:07.039> do<00:31:07.159> you 00:31:07.310 --> 00:31:07.320 align:start position:0% and what level of standardization do you 00:31:07.320 --> 00:31:09.190 align:start position:0% and what level of standardization do you want<00:31:07.919> so<00:31:08.080> the<00:31:08.240> nice<00:31:08.440> thing<00:31:08.639> about<00:31:08.919> this<00:31:09.080> kind 00:31:09.190 --> 00:31:09.200 align:start position:0% want so the nice thing about this kind 00:31:09.200 --> 00:31:12.149 align:start position:0% want so the nice thing about this kind of<00:31:09.559> data<00:31:09.840> availability<00:31:10.480> protocol<00:31:11.039> is<00:31:11.360> that 00:31:12.149 --> 00:31:12.159 align:start position:0% of data availability protocol is that 00:31:12.159 --> 00:31:13.950 align:start position:0% of data availability protocol is that here<00:31:12.399> you<00:31:12.880> here<00:31:13.080> you<00:31:13.240> actually<00:31:13.519> need<00:31:13.679> to 00:31:13.950 --> 00:31:13.960 align:start position:0% here you here you actually need to 00:31:13.960 --> 00:31:16.669 align:start position:0% here you here you actually need to standardize<00:31:14.639> almost<00:31:15.039> nothing<00:31:15.919> for<00:31:16.279> all<00:31:16.519> these 00:31:16.669 --> 00:31:16.679 align:start position:0% standardize almost nothing for all these 00:31:16.679 --> 00:31:18.669 align:start position:0% standardize almost nothing for all these chains<00:31:16.960> to<00:31:17.080> share<00:31:17.399> security<00:31:18.159> the<00:31:18.279> only<00:31:18.559> thing 00:31:18.669 --> 00:31:18.679 align:start position:0% chains to share security the only thing 00:31:18.679 --> 00:31:19.789 align:start position:0% chains to share security the only thing that<00:31:18.760> you<00:31:18.880> need<00:31:19.000> to<00:31:19.159> standardize<00:31:19.639> is<00:31:19.720> the 00:31:19.789 --> 00:31:19.799 align:start position:0% that you need to standardize is the 00:31:19.799 --> 00:31:21.549 align:start position:0% that you need to standardize is the Merle<00:31:20.120> tree<00:31:20.360> protocol<00:31:20.799> because<00:31:20.960> you<00:31:21.080> need<00:31:21.440> you 00:31:21.549 --> 00:31:21.559 align:start position:0% Merle tree protocol because you need you 00:31:21.559 --> 00:31:22.789 align:start position:0% Merle tree protocol because you need you need<00:31:21.679> to<00:31:21.760> have<00:31:21.880> a<00:31:22.000> way<00:31:22.080> of<00:31:22.159> voting<00:31:22.399> on<00:31:22.559> data 00:31:22.789 --> 00:31:22.799 align:start position:0% need to have a way of voting on data 00:31:22.799 --> 00:31:24.590 align:start position:0% need to have a way of voting on data availability<00:31:23.760> everything<00:31:24.120> else<00:31:24.360> is 00:31:24.590 --> 00:31:24.600 align:start position:0% availability everything else is 00:31:24.600 --> 00:31:26.389 align:start position:0% availability everything else is potentially<00:31:25.120> completely<00:31:25.600> open<00:31:25.919> like<00:31:26.080> this 00:31:26.389 --> 00:31:26.399 align:start position:0% potentially completely open like this 00:31:26.399 --> 00:31:28.190 align:start position:0% potentially completely open like this this<00:31:26.600> might<00:31:26.840> you<00:31:26.960> know<00:31:27.120> this<00:31:27.919> you're<00:31:28.000> not 00:31:28.190 --> 00:31:28.200 align:start position:0% this might you know this you're not 00:31:28.200 --> 00:31:29.590 align:start position:0% this might you know this you're not standardizing<00:31:28.840> whether<00:31:29.000> you're<00:31:29.159> using<00:31:29.399> proof 00:31:29.590 --> 00:31:29.600 align:start position:0% standardizing whether you're using proof 00:31:29.600 --> 00:31:30.830 align:start position:0% standardizing whether you're using proof of<00:31:29.720> work<00:31:29.880> or<00:31:30.000> proof<00:31:30.200> of<00:31:30.279> State<00:31:30.519> you're<00:31:30.639> not 00:31:30.830 --> 00:31:30.840 align:start position:0% of work or proof of State you're not 00:31:30.840 --> 00:31:32.870 align:start position:0% of work or proof of State you're not standardizing<00:31:31.639> whether<00:31:31.799> it's<00:31:32.159> uh<00:31:32.720> whether 00:31:32.870 --> 00:31:32.880 align:start position:0% standardizing whether it's uh whether 00:31:32.880 --> 00:31:34.789 align:start position:0% standardizing whether it's uh whether you're<00:31:33.000> using<00:31:33.279> ghost<00:31:34.120> or<00:31:34.320> or<00:31:34.440> some<00:31:34.639> other 00:31:34.789 --> 00:31:34.799 align:start position:0% you're using ghost or or some other 00:31:34.799 --> 00:31:36.509 align:start position:0% you're using ghost or or some other mechanism<00:31:35.200> you're<00:31:35.320> not<00:31:35.440> standardizing<00:31:36.360> any 00:31:36.509 --> 00:31:36.519 align:start position:0% mechanism you're not standardizing any 00:31:36.519 --> 00:31:39.110 align:start position:0% mechanism you're not standardizing any kind<00:31:36.639> of<00:31:36.760> state<00:31:37.000> transition<00:31:37.679> rule<00:31:38.679> but<00:31:38.880> if<00:31:39.000> he 00:31:39.110 --> 00:31:39.120 align:start position:0% kind of state transition rule but if he 00:31:39.120 --> 00:31:40.590 align:start position:0% kind of state transition rule but if he wants<00:31:39.360> to<00:31:39.480> go<00:31:39.639> into<00:31:39.880> supporting<00:31:40.320> you<00:31:40.399> know 00:31:40.590 --> 00:31:40.600 align:start position:0% wants to go into supporting you know 00:31:40.600 --> 00:31:42.110 align:start position:0% wants to go into supporting you know more<00:31:41.159> more<00:31:41.320> sort<00:31:41.480> of<00:31:41.600> like<00:31:41.799> Clin 00:31:42.110 --> 00:31:42.120 align:start position:0% more more sort of like Clin 00:31:42.120 --> 00:31:43.509 align:start position:0% more more sort of like Clin functionality<00:31:42.720> then<00:31:42.840> you<00:31:42.960> might<00:31:43.120> need<00:31:43.240> to<00:31:43.360> end 00:31:43.509 --> 00:31:43.519 align:start position:0% functionality then you might need to end 00:31:43.519 --> 00:31:45.110 align:start position:0% functionality then you might need to end up<00:31:43.639> standardizing<00:31:44.440> more<00:31:44.679> things<00:31:44.960> like 00:31:45.110 --> 00:31:45.120 align:start position:0% up standardizing more things like 00:31:45.120 --> 00:31:47.190 align:start position:0% up standardizing more things like checkpoints<00:31:45.799> yeah<00:31:45.919> so<00:31:46.080> for<00:31:46.279> example<00:31:46.679> if<00:31:47.000> uh<00:31:47.120> if 00:31:47.190 --> 00:31:47.200 align:start position:0% checkpoints yeah so for example if uh if 00:31:47.200 --> 00:31:48.629 align:start position:0% checkpoints yeah so for example if uh if you<00:31:47.279> wanted<00:31:47.600> like<00:31:47.760> kind<00:31:47.880> of<00:31:48.000> ultimate<00:31:48.399> like 00:31:48.629 --> 00:31:48.639 align:start position:0% you wanted like kind of ultimate like 00:31:48.639 --> 00:31:50.590 align:start position:0% you wanted like kind of ultimate like client<00:31:49.039> functionality<00:31:50.039> uh<00:31:50.240> what<00:31:50.360> you<00:31:50.440> would 00:31:50.590 --> 00:31:50.600 align:start position:0% client functionality uh what you would 00:31:50.600 --> 00:31:53.029 align:start position:0% client functionality uh what you would do<00:31:50.840> is<00:31:51.039> have<00:31:51.240> all<00:31:51.360> of<00:31:51.480> the<00:31:51.600> chains<00:31:51.960> be<00:31:52.159> evm<00:31:52.919> and 00:31:53.029 --> 00:31:53.039 align:start position:0% do is have all of the chains be evm and 00:31:53.039 --> 00:31:55.430 align:start position:0% do is have all of the chains be evm and have<00:31:53.200> the<00:31:53.399> consensus<00:31:53.880> algorithm<00:31:54.399> be<00:31:55.080> embedded 00:31:55.430 --> 00:31:55.440 align:start position:0% have the consensus algorithm be embedded 00:31:55.440 --> 00:31:57.350 align:start position:0% have the consensus algorithm be embedded in<00:31:55.559> evm<00:31:55.960> code<00:31:56.320> so<00:31:56.440> that<00:31:56.559> all<00:31:56.760> the<00:31:56.880> like<00:31:57.080> lines 00:31:57.350 --> 00:31:57.360 align:start position:0% in evm code so that all the like lines 00:31:57.360 --> 00:31:59.470 align:start position:0% in evm code so that all the like lines can<00:31:57.480> just<00:31:57.600> use<00:31:58.000> dbm<00:31:58.360> to<00:31:58.480> authenticate<00:31:58.919> the<00:31:59.039> St 00:31:59.470 --> 00:31:59.480 align:start position:0% can just use dbm to authenticate the St 00:31:59.480 --> 00:32:01.389 align:start position:0% can just use dbm to authenticate the St State<00:31:59.679> Transitions<00:32:00.600> and<00:32:00.679> to<00:32:00.880> authenticate 00:32:01.389 --> 00:32:01.399 align:start position:0% State Transitions and to authenticate 00:32:01.399 --> 00:32:03.269 align:start position:0% State Transitions and to authenticate kind<00:32:01.519> of<00:32:01.639> anything<00:32:01.919> that<00:32:02.080> they<00:32:02.200> need<00:32:02.960> uh<00:32:03.120> and 00:32:03.269 --> 00:32:03.279 align:start position:0% kind of anything that they need uh and 00:32:03.279 --> 00:32:05.149 align:start position:0% kind of anything that they need uh and basically<00:32:03.639> that<00:32:04.080> makes<00:32:04.320> their<00:32:04.519> code<00:32:04.799> base 00:32:05.149 --> 00:32:05.159 align:start position:0% basically that makes their code base 00:32:05.159 --> 00:32:06.549 align:start position:0% basically that makes their code base smaller<00:32:05.600> than<00:32:05.799> say<00:32:06.000> if<00:32:06.120> they<00:32:06.320> had<00:32:06.440> to 00:32:06.549 --> 00:32:06.559 align:start position:0% smaller than say if they had to 00:32:06.559 --> 00:32:08.110 align:start position:0% smaller than say if they had to interoperate<00:32:07.120> between<00:32:07.399> chains<00:32:07.720> that<00:32:07.880> have 00:32:08.110 --> 00:32:08.120 align:start position:0% interoperate between chains that have 00:32:08.120 --> 00:32:10.110 align:start position:0% interoperate between chains that have different<00:32:08.480> protocols<00:32:09.080> right<00:32:09.519> you<00:32:09.720> had<00:32:09.840> a<00:32:09.960> like 00:32:10.110 --> 00:32:10.120 align:start position:0% different protocols right you had a like 00:32:10.120 --> 00:32:11.710 align:start position:0% different protocols right you had a like client<00:32:10.440> to<00:32:10.600> interoperate<00:32:11.159> you<00:32:11.279> know<00:32:11.399> Bitcoin 00:32:11.710 --> 00:32:11.720 align:start position:0% client to interoperate you know Bitcoin 00:32:11.720 --> 00:32:14.029 align:start position:0% client to interoperate you know Bitcoin and<00:32:11.880> some<00:32:12.039> other<00:32:12.200> chain<00:32:13.120> who<00:32:13.360> P<00:32:13.600> that<00:32:13.679> services 00:32:14.029 --> 00:32:14.039 align:start position:0% and some other chain who P that services 00:32:14.039 --> 00:32:15.710 align:start position:0% and some other chain who P that services from<00:32:14.200> both<00:32:14.360> it<00:32:14.440> will<00:32:14.559> need<00:32:14.760> more<00:32:15.039> code<00:32:15.360> than<00:32:15.480> if 00:32:15.710 --> 00:32:15.720 align:start position:0% from both it will need more code than if 00:32:15.720 --> 00:32:17.470 align:start position:0% from both it will need more code than if Bitcoin<00:32:16.000> with<00:32:16.159> VM<00:32:16.919> because<00:32:17.120> then<00:32:17.240> it<00:32:17.320> would 00:32:17.470 --> 00:32:17.480 align:start position:0% Bitcoin with VM because then it would 00:32:17.480 --> 00:32:18.909 align:start position:0% Bitcoin with VM because then it would just<00:32:17.720> could<00:32:17.919> kind<00:32:18.080> of<00:32:18.159> use<00:32:18.320> the<00:32:18.399> same<00:32:18.679> code 00:32:18.909 --> 00:32:18.919 align:start position:0% just could kind of use the same code 00:32:18.919 --> 00:32:21.789 align:start position:0% just could kind of use the same code base<00:32:19.760> to<00:32:19.880> authenticate<00:32:20.320> transitions<00:32:20.760> on<00:32:20.880> both 00:32:21.789 --> 00:32:21.799 align:start position:0% base to authenticate transitions on both 00:32:21.799 --> 00:32:24.230 align:start position:0% base to authenticate transitions on both chains<00:32:22.799> so<00:32:23.000> the<00:32:23.120> more<00:32:23.240> you<00:32:23.399> standardize<00:32:24.080> the 00:32:24.230 --> 00:32:24.240 align:start position:0% chains so the more you standardize the 00:32:24.240 --> 00:32:28.909 align:start position:0% chains so the more you standardize the more<00:32:24.720> lifetime<00:32:25.200> friendly<00:32:25.559> you<00:32:25.679> can<00:32:25.840> be<00:32:26.639> um<00:32:28.080> we 00:32:28.909 --> 00:32:28.919 align:start position:0% more lifetime friendly you can be um we 00:32:28.919 --> 00:32:33.149 align:start position:0% more lifetime friendly you can be um we already<00:32:29.679> yeah<00:32:30.399> yeah<00:32:31.159> so<00:32:32.120> I<00:32:32.279> guess<00:32:32.600> the<00:32:32.760> so<00:32:32.960> the 00:32:33.149 --> 00:32:33.159 align:start position:0% already yeah yeah so I guess the so the 00:32:33.159 --> 00:32:36.310 align:start position:0% already yeah yeah so I guess the so the last<00:32:33.480> points<00:32:33.919> here<00:32:34.080> are<00:32:34.320> first<00:32:34.519> of<00:32:35.080> all<00:32:36.080> this 00:32:36.310 --> 00:32:36.320 align:start position:0% last points here are first of all this 00:32:36.320 --> 00:32:38.389 align:start position:0% last points here are first of all this idea<00:32:36.600> of<00:32:36.760> checkpointing<00:32:37.639> and<00:32:38.000> so<00:32:38.240> the 00:32:38.389 --> 00:32:38.399 align:start position:0% idea of checkpointing and so the 00:32:38.399 --> 00:32:41.070 align:start position:0% idea of checkpointing and so the question<00:32:38.760> is<00:32:39.159> uh<00:32:39.840> in<00:32:40.000> this<00:32:40.200> multi<00:32:40.600> in<00:32:40.799> in<00:32:40.919> this 00:32:41.070 --> 00:32:41.080 align:start position:0% question is uh in this multi in in this 00:32:41.080 --> 00:32:43.070 align:start position:0% question is uh in this multi in in this multi-chain<00:32:41.760> context<00:32:42.279> can<00:32:42.440> we<00:32:42.600> come<00:32:42.760> up<00:32:42.919> with 00:32:43.070 --> 00:32:43.080 align:start position:0% multi-chain context can we come up with 00:32:43.080 --> 00:32:45.269 align:start position:0% multi-chain context can we come up with some<00:32:43.279> kind<00:32:43.399> of<00:32:43.519> light<00:32:43.880> client<00:32:44.240> protocol<00:32:45.120> that 00:32:45.269 --> 00:32:45.279 align:start position:0% some kind of light client protocol that 00:32:45.279 --> 00:32:47.430 align:start position:0% some kind of light client protocol that allows<00:32:45.760> proof<00:32:45.960> of<00:32:46.120> stake<00:32:46.480> clients<00:32:46.960> to<00:32:47.159> still 00:32:47.430 --> 00:32:47.440 align:start position:0% allows proof of stake clients to still 00:32:47.440 --> 00:32:50.389 align:start position:0% allows proof of stake clients to still be<00:32:47.720> secure<00:32:48.360> or<00:32:48.639> to<00:32:48.799> still<00:32:49.120> securely<00:32:49.600> determine 00:32:50.389 --> 00:32:50.399 align:start position:0% be secure or to still securely determine 00:32:50.399 --> 00:32:51.669 align:start position:0% be secure or to still securely determine the<00:32:50.519> state<00:32:50.720> of<00:32:50.880> sub<00:32:51.120> the<00:32:51.200> current<00:32:51.399> state<00:32:51.559> of 00:32:51.669 --> 00:32:51.679 align:start position:0% the state of sub the current state of 00:32:51.679 --> 00:32:53.509 align:start position:0% the state of sub the current state of sub<00:32:51.919> particular<00:32:52.279> chain<00:32:52.639> ideally<00:32:53.039> with<00:32:53.159> a<00:32:53.320> very 00:32:53.509 --> 00:32:53.519 align:start position:0% sub particular chain ideally with a very 00:32:53.519 --> 00:32:55.629 align:start position:0% sub particular chain ideally with a very low<00:32:53.720> amount<00:32:53.919> of 00:32:55.629 --> 00:32:55.639 align:start position:0% low amount of 00:32:55.639 --> 00:32:58.470 align:start position:0% low amount of information<00:32:56.639> yeah<00:32:57.279> um<00:32:57.880> so<00:32:58.080> something<00:32:58.320> else 00:32:58.470 --> 00:32:58.480 align:start position:0% information yeah um so something else 00:32:58.480 --> 00:33:04.269 align:start position:0% information yeah um so something else that<00:32:58.559> we<00:32:58.639> haven't<00:32:58.840> talked<00:32:59.080> about<00:32:59.360> yet<00:32:59.720> is 00:33:04.269 --> 00:33:04.279 align:start position:0% 00:33:04.279 --> 00:33:10.070 align:start position:0% uh<00:33:05.279> so<00:33:05.960> uh<00:33:06.320> like<00:33:07.000> one<00:33:07.720> one<00:33:07.960> cool<00:33:08.240> idea<00:33:08.799> is<00:33:09.399> uh<00:33:09.880> is 00:33:10.070 --> 00:33:10.080 align:start position:0% uh so uh like one one cool idea is uh is 00:33:10.080 --> 00:33:13.350 align:start position:0% uh so uh like one one cool idea is uh is that<00:33:10.600> you<00:33:10.760> might<00:33:11.200> be<00:33:11.360> able<00:33:11.559> to<00:33:11.720> use<00:33:12.480> not<00:33:13.000> the 00:33:13.350 --> 00:33:13.360 align:start position:0% that you might be able to use not the 00:33:13.360 --> 00:33:14.549 align:start position:0% that you might be able to use not the checkpoint<00:33:13.799> between<00:33:14.000> the<00:33:14.080> chains<00:33:14.320> at<00:33:14.440> the 00:33:14.549 --> 00:33:14.559 align:start position:0% checkpoint between the chains at the 00:33:14.559 --> 00:33:17.669 align:start position:0% checkpoint between the chains at the protocol<00:33:15.000> level<00:33:15.919> uh<00:33:16.080> to<00:33:16.399> to<00:33:16.679> to<00:33:16.880> satisfy<00:33:17.399> the 00:33:17.669 --> 00:33:17.679 align:start position:0% protocol level uh to to to satisfy the 00:33:17.679 --> 00:33:19.389 align:start position:0% protocol level uh to to to satisfy the to<00:33:17.880> do<00:33:18.000> the<00:33:18.080> light<00:33:18.240> client<00:33:18.519> protocol<00:33:19.159> but 00:33:19.389 --> 00:33:19.399 align:start position:0% to do the light client protocol but 00:33:19.399 --> 00:33:21.350 align:start position:0% to do the light client protocol but actually<00:33:20.120> uh<00:33:20.279> the<00:33:20.480> the<00:33:20.559> interface<00:33:21.080> chain 00:33:21.350 --> 00:33:21.360 align:start position:0% actually uh the the interface chain 00:33:21.360 --> 00:33:23.230 align:start position:0% actually uh the the interface chain that's<00:33:21.519> on<00:33:21.720> top<00:33:22.519> actually<00:33:22.840> have<00:33:22.919> we<00:33:23.120> talk 00:33:23.230 --> 00:33:23.240 align:start position:0% that's on top actually have we talk 00:33:23.240 --> 00:33:25.350 align:start position:0% that's on top actually have we talk about<00:33:23.919> no<00:33:24.159> so<00:33:24.320> basically<00:33:24.799> if<00:33:24.880> we<00:33:24.960> want<00:33:25.080> to<00:33:25.200> do 00:33:25.350 --> 00:33:25.360 align:start position:0% about no so basically if we want to do 00:33:25.360 --> 00:33:26.909 align:start position:0% about no so basically if we want to do atomic<00:33:25.679> interoperability<00:33:26.440> between<00:33:26.720> two 00:33:26.909 --> 00:33:26.919 align:start position:0% atomic interoperability between two 00:33:26.919 --> 00:33:28.789 align:start position:0% atomic interoperability between two chains<00:33:27.799> so<00:33:27.919> basically<00:33:28.240> those<00:33:28.360> two<00:33:28.480> chains 00:33:28.789 --> 00:33:28.799 align:start position:0% chains so basically those two chains 00:33:28.799 --> 00:33:31.750 align:start position:0% chains so basically those two chains have<00:33:29.080> the<00:33:29.200> Cher<00:33:29.480> noing<00:33:30.279> uh<00:33:30.519> primitive<00:33:31.519> uh<00:33:31.639> what 00:33:31.750 --> 00:33:31.760 align:start position:0% have the Cher noing uh primitive uh what 00:33:31.760 --> 00:33:33.149 align:start position:0% have the Cher noing uh primitive uh what you<00:33:31.840> can<00:33:31.960> do<00:33:32.120> is<00:33:32.440> you<00:33:32.519> can<00:33:32.639> make<00:33:32.760> a<00:33:32.880> third 00:33:33.149 --> 00:33:33.159 align:start position:0% you can do is you can make a third 00:33:33.159 --> 00:33:35.629 align:start position:0% you can do is you can make a third consensus<00:33:33.760> that<00:33:34.600> consensus<00:33:35.039> group<00:33:35.320> that 00:33:35.629 --> 00:33:35.639 align:start position:0% consensus that consensus group that 00:33:35.639 --> 00:33:37.629 align:start position:0% consensus that consensus group that includes<00:33:36.559> is<00:33:36.720> basically<00:33:36.960> a<00:33:37.080> side<00:33:37.240> chain<00:33:37.440> for 00:33:37.629 --> 00:33:37.639 align:start position:0% includes is basically a side chain for 00:33:37.639 --> 00:33:39.310 align:start position:0% includes is basically a side chain for both<00:33:37.760> of<00:33:37.919> those<00:33:38.080> consensus<00:33:38.519> groups<00:33:39.120> and<00:33:39.200> that 00:33:39.310 --> 00:33:39.320 align:start position:0% both of those consensus groups and that 00:33:39.320 --> 00:33:40.990 align:start position:0% both of those consensus groups and that can<00:33:39.440> be<00:33:39.559> used<00:33:39.760> to<00:33:40.000> pair<00:33:40.240> up<00:33:40.519> different<00:33:40.799> people 00:33:40.990 --> 00:33:41.000 align:start position:0% can be used to pair up different people 00:33:41.000 --> 00:33:42.950 align:start position:0% can be used to pair up different people who<00:33:41.120> want<00:33:41.240> to<00:33:41.360> do<00:33:41.720> interoperability<00:33:42.720> using 00:33:42.950 --> 00:33:42.960 align:start position:0% who want to do interoperability using 00:33:42.960 --> 00:33:45.710 align:start position:0% who want to do interoperability using this<00:33:43.120> tyal<00:33:43.639> imperitive<00:33:44.639> and<00:33:44.760> so<00:33:45.080> one<00:33:45.480> I'm 00:33:45.710 --> 00:33:45.720 align:start position:0% this tyal imperitive and so one I'm 00:33:45.720 --> 00:33:47.750 align:start position:0% this tyal imperitive and so one I'm basically<00:33:46.720> thinking<00:33:47.039> and<00:33:47.200> hoping<00:33:47.519> that<00:33:47.639> we 00:33:47.750 --> 00:33:47.760 align:start position:0% basically thinking and hoping that we 00:33:47.760 --> 00:33:50.870 align:start position:0% basically thinking and hoping that we can<00:33:48.279> use<00:33:48.919> the<00:33:49.159> exchange<00:33:49.679> here<00:33:50.159> to<00:33:50.360> help<00:33:50.600> like 00:33:50.870 --> 00:33:50.880 align:start position:0% can use the exchange here to help like 00:33:50.880 --> 00:33:54.430 align:start position:0% can use the exchange here to help like clients<00:33:51.279> figure<00:33:51.559> out<00:33:52.840> uh<00:33:53.840> where<00:33:54.000> to<00:33:54.200> go 00:33:54.430 --> 00:33:54.440 align:start position:0% clients figure out uh where to go 00:33:54.440 --> 00:33:55.870 align:start position:0% clients figure out uh where to go because<00:33:54.720> light<00:33:54.919> clients<00:33:55.159> are<00:33:55.279> going<00:33:55.399> to<00:33:55.679> in<00:33:55.799> a 00:33:55.870 --> 00:33:55.880 align:start position:0% because light clients are going to in a 00:33:55.880 --> 00:33:57.430 align:start position:0% because light clients are going to in a multi-chain<00:33:56.399> context<00:33:56.720> will<00:33:56.880> probably<00:33:57.159> not 00:33:57.430 --> 00:33:57.440 align:start position:0% multi-chain context will probably not 00:33:57.440 --> 00:33:58.990 align:start position:0% multi-chain context will probably not keep<00:33:57.880> their<00:33:58.000> tokens<00:33:58.279> on<00:33:58.440> all<00:33:58.679> all<00:33:58.799> of<00:33:58.880> these 00:33:58.990 --> 00:33:59.000 align:start position:0% keep their tokens on all all of these 00:33:59.000 --> 00:34:00.230 align:start position:0% keep their tokens on all all of these chains<00:33:59.240> you<00:33:59.399> keep<00:33:59.519> your<00:33:59.600> tokens<00:33:59.840> on<00:33:59.919> a<00:34:00.039> small 00:34:00.230 --> 00:34:00.240 align:start position:0% chains you keep your tokens on a small 00:34:00.240 --> 00:34:02.070 align:start position:0% chains you keep your tokens on a small number<00:34:00.440> of<00:34:00.519> chains<00:34:01.320> which<00:34:01.440> are<00:34:01.559> more<00:34:01.760> liquid 00:34:02.070 --> 00:34:02.080 align:start position:0% number of chains which are more liquid 00:34:02.080 --> 00:34:03.629 align:start position:0% number of chains which are more liquid more<00:34:02.240> stable<00:34:02.760> and<00:34:02.840> then<00:34:02.960> you<00:34:03.159> kind<00:34:03.279> of<00:34:03.399> sell 00:34:03.629 --> 00:34:03.639 align:start position:0% more stable and then you kind of sell 00:34:03.639 --> 00:34:05.029 align:start position:0% more stable and then you kind of sell them<00:34:03.760> for<00:34:03.919> the<00:34:04.080> tokens<00:34:04.480> that<00:34:04.559> you<00:34:04.679> need<00:34:04.919> in 00:34:05.029 --> 00:34:05.039 align:start position:0% them for the tokens that you need in 00:34:05.039 --> 00:34:06.710 align:start position:0% them for the tokens that you need in order<00:34:05.240> to<00:34:05.399> purchase<00:34:05.760> services<00:34:06.120> from<00:34:06.320> some 00:34:06.710 --> 00:34:06.720 align:start position:0% order to purchase services from some 00:34:06.720 --> 00:34:08.869 align:start position:0% order to purchase services from some chain<00:34:07.720> um<00:34:08.079> and<00:34:08.159> you<00:34:08.359> have<00:34:08.440> to<00:34:08.520> go<00:34:08.639> through<00:34:08.760> an 00:34:08.869 --> 00:34:08.879 align:start position:0% chain um and you have to go through an 00:34:08.879 --> 00:34:10.030 align:start position:0% chain um and you have to go through an exchange<00:34:09.159> to<00:34:09.280> do<00:34:09.399> that<00:34:09.520> anyway<00:34:09.800> so<00:34:09.879> you<00:34:09.960> need 00:34:10.030 --> 00:34:10.040 align:start position:0% exchange to do that anyway so you need 00:34:10.040 --> 00:34:11.629 align:start position:0% exchange to do that anyway so you need to<00:34:10.159> authenticate<00:34:10.679> that<00:34:10.800> exchange<00:34:11.359> and<00:34:11.480> so 00:34:11.629 --> 00:34:11.639 align:start position:0% to authenticate that exchange and so 00:34:11.639 --> 00:34:12.669 align:start position:0% to authenticate that exchange and so then<00:34:11.800> you<00:34:11.879> might<00:34:12.040> be<00:34:12.119> able<00:34:12.240> to<00:34:12.359> use<00:34:12.520> that 00:34:12.669 --> 00:34:12.679 align:start position:0% then you might be able to use that 00:34:12.679 --> 00:34:13.750 align:start position:0% then you might be able to use that exchange<00:34:13.040> which<00:34:13.159> isn't<00:34:13.399> even<00:34:13.520> on<00:34:13.639> the 00:34:13.750 --> 00:34:13.760 align:start position:0% exchange which isn't even on the 00:34:13.760 --> 00:34:15.950 align:start position:0% exchange which isn't even on the protocol<00:34:14.159> level<00:34:14.520> in<00:34:14.639> order<00:34:14.839> to<00:34:15.000> authenticate 00:34:15.950 --> 00:34:15.960 align:start position:0% protocol level in order to authenticate 00:34:15.960 --> 00:34:18.669 align:start position:0% protocol level in order to authenticate which<00:34:16.159> Fork<00:34:16.560> on<00:34:16.960> these<00:34:17.119> chains<00:34:17.480> to<00:34:17.800> choose<00:34:18.560> as 00:34:18.669 --> 00:34:18.679 align:start position:0% which Fork on these chains to choose as 00:34:18.679 --> 00:34:22.869 align:start position:0% which Fork on these chains to choose as a<00:34:18.800> light<00:34:19.079> clim<00:34:20.079> um<00:34:20.720> so<00:34:21.240> basically<00:34:22.240> if<00:34:22.359> we<00:34:22.520> build 00:34:22.869 --> 00:34:22.879 align:start position:0% a light clim um so basically if we build 00:34:22.879 --> 00:34:24.750 align:start position:0% a light clim um so basically if we build proo<00:34:23.280> if<00:34:23.359> we<00:34:23.560> build<00:34:23.800> an<00:34:23.919> interoperability 00:34:24.750 --> 00:34:24.760 align:start position:0% proo if we build an interoperability 00:34:24.760 --> 00:34:27.389 align:start position:0% proo if we build an interoperability kind<00:34:24.879> of<00:34:25.079> on<00:34:25.320> top<00:34:25.560> using<00:34:25.879> Atomic<00:34:26.639> Atomic<00:34:27.280> uh 00:34:27.389 --> 00:34:27.399 align:start position:0% kind of on top using Atomic Atomic uh 00:34:27.399 --> 00:34:30.069 align:start position:0% kind of on top using Atomic Atomic uh inter<00:34:27.720> cability<00:34:28.560> it's<00:34:28.839> less<00:34:29.159> fragile<00:34:29.839> than<00:34:29.960> if 00:34:30.069 --> 00:34:30.079 align:start position:0% inter cability it's less fragile than if 00:34:30.079 --> 00:34:31.190 align:start position:0% inter cability it's less fragile than if you<00:34:30.159> were<00:34:30.320> to<00:34:30.520> extend<00:34:30.839> one<00:34:30.919> of<00:34:31.040> these 00:34:31.190 --> 00:34:31.200 align:start position:0% you were to extend one of these 00:34:31.200 --> 00:34:32.550 align:start position:0% you were to extend one of these consensuses<00:34:31.720> to<00:34:31.839> include<00:34:32.119> the<00:34:32.240> other<00:34:32.359> one 00:34:32.550 --> 00:34:32.560 align:start position:0% consensuses to include the other one 00:34:32.560 --> 00:34:34.750 align:start position:0% consensuses to include the other one because<00:34:32.760> if<00:34:32.879> this<00:34:33.000> chain<00:34:33.320> died<00:34:34.200> in<00:34:34.359> this<00:34:34.560> case 00:34:34.750 --> 00:34:34.760 align:start position:0% because if this chain died in this case 00:34:34.760 --> 00:34:36.230 align:start position:0% because if this chain died in this case it<00:34:34.879> wouldn't<00:34:35.359> affect<00:34:35.599> this<00:34:35.760> chain<00:34:35.960> this<00:34:36.040> chain 00:34:36.230 --> 00:34:36.240 align:start position:0% it wouldn't affect this chain this chain 00:34:36.240 --> 00:34:37.430 align:start position:0% it wouldn't affect this chain this chain doesn't<00:34:36.440> know<00:34:36.599> about<00:34:36.800> this<00:34:36.960> chain<00:34:37.240> it<00:34:37.320> just 00:34:37.430 --> 00:34:37.440 align:start position:0% doesn't know about this chain it just 00:34:37.440 --> 00:34:39.389 align:start position:0% doesn't know about this chain it just knows<00:34:37.679> about<00:34:37.919> some<00:34:38.280> tyan<00:34:38.879> contracts<00:34:39.240> that<00:34:39.320> it 00:34:39.389 --> 00:34:39.399 align:start position:0% knows about some tyan contracts that it 00:34:39.399 --> 00:34:41.550 align:start position:0% knows about some tyan contracts that it has<00:34:39.560> on<00:34:39.679> itself<00:34:39.919> and<00:34:40.040> it<00:34:40.119> doesn't<00:34:40.359> know<00:34:40.639> what 00:34:41.550 --> 00:34:41.560 align:start position:0% has on itself and it doesn't know what 00:34:41.560 --> 00:34:43.149 align:start position:0% has on itself and it doesn't know what that<00:34:42.079> what<00:34:42.200> chain<00:34:42.399> that's<00:34:42.560> interoperating 00:34:43.149 --> 00:34:43.159 align:start position:0% that what chain that's interoperating 00:34:43.159 --> 00:34:44.990 align:start position:0% that what chain that's interoperating with<00:34:43.720> but<00:34:43.839> if<00:34:44.000> this<00:34:44.119> Chain's<00:34:44.440> consensus<00:34:44.839> was 00:34:44.990 --> 00:34:45.000 align:start position:0% with but if this Chain's consensus was 00:34:45.000 --> 00:34:46.069 align:start position:0% with but if this Chain's consensus was actually<00:34:45.240> extended<00:34:45.560> to<00:34:45.679> that<00:34:45.800> Chain's 00:34:46.069 --> 00:34:46.079 align:start position:0% actually extended to that Chain's 00:34:46.079 --> 00:34:47.829 align:start position:0% actually extended to that Chain's consensus<00:34:46.720> and<00:34:46.839> this<00:34:46.960> chain<00:34:47.240> died<00:34:47.520> this<00:34:47.639> chain 00:34:47.829 --> 00:34:47.839 align:start position:0% consensus and this chain died this chain 00:34:47.839 --> 00:34:49.310 align:start position:0% consensus and this chain died this chain would<00:34:48.000> now<00:34:48.159> have<00:34:48.280> to<00:34:48.399> switch<00:34:48.919> from<00:34:49.079> buying 00:34:49.310 --> 00:34:49.320 align:start position:0% would now have to switch from buying 00:34:49.320 --> 00:34:50.629 align:start position:0% would now have to switch from buying services<00:34:49.679> from<00:34:49.839> this<00:34:49.960> chain<00:34:50.280> to<00:34:50.440> buying 00:34:50.629 --> 00:34:50.639 align:start position:0% services from this chain to buying 00:34:50.639 --> 00:34:52.430 align:start position:0% services from this chain to buying services<00:34:51.000> from<00:34:51.159> another<00:34:51.399> chain<00:34:52.159> which<00:34:52.280> is 00:34:52.430 --> 00:34:52.440 align:start position:0% services from another chain which is 00:34:52.440 --> 00:34:55.109 align:start position:0% services from another chain which is kind<00:34:52.560> of<00:34:52.639> a<00:34:52.760> whole<00:34:52.960> other<00:34:53.560> problem<00:34:54.359> um<00:34:54.720> one<00:34:54.960> way 00:34:55.109 --> 00:34:55.119 align:start position:0% kind of a whole other problem um one way 00:34:55.119 --> 00:34:56.829 align:start position:0% kind of a whole other problem um one way to<00:34:55.399> handle<00:34:55.760> that<00:34:55.960> that<00:34:56.280> I've<00:34:56.480> kind<00:34:56.560> of<00:34:56.679> thought 00:34:56.829 --> 00:34:56.839 align:start position:0% to handle that that I've kind of thought 00:34:56.839 --> 00:34:59.910 align:start position:0% to handle that that I've kind of thought of<00:34:57.000> is<00:34:57.480> um<00:34:58.079> if<00:34:58.400> if<00:34:58.920> you<00:34:59.079> don't<00:34:59.320> have<00:34:59.520> contract 00:34:59.910 --> 00:34:59.920 align:start position:0% of is um if if you don't have contract 00:34:59.920 --> 00:35:01.790 align:start position:0% of is um if if you don't have contract creation<00:35:00.400> on<00:35:00.800> kind<00:35:00.920> of<00:35:01.040> evm<00:35:01.359> chain<00:35:01.599> and<00:35:01.720> all 00:35:01.790 --> 00:35:01.800 align:start position:0% creation on kind of evm chain and all 00:35:01.800 --> 00:35:03.470 align:start position:0% creation on kind of evm chain and all the<00:35:01.920> contracts<00:35:02.280> are<00:35:02.359> in<00:35:02.480> the<00:35:02.560> Genesis<00:35:02.920> block 00:35:03.470 --> 00:35:03.480 align:start position:0% the contracts are in the Genesis block 00:35:03.480 --> 00:35:05.069 align:start position:0% the contracts are in the Genesis block then<00:35:03.640> two<00:35:03.800> chains<00:35:04.160> with<00:35:04.400> exactly<00:35:04.760> the<00:35:04.839> same 00:35:05.069 --> 00:35:05.079 align:start position:0% then two chains with exactly the same 00:35:05.079 --> 00:35:07.589 align:start position:0% then two chains with exactly the same contracts<00:35:05.400> in<00:35:05.480> the<00:35:05.599> Genesis<00:35:06.040> block<00:35:07.040> um<00:35:07.400> are 00:35:07.589 --> 00:35:07.599 align:start position:0% contracts in the Genesis block um are 00:35:07.599 --> 00:35:08.829 align:start position:0% contracts in the Genesis block um are going<00:35:07.760> to<00:35:07.839> be<00:35:07.960> providing<00:35:08.240> the<00:35:08.320> same<00:35:08.520> service 00:35:08.829 --> 00:35:08.839 align:start position:0% going to be providing the same service 00:35:08.839 --> 00:35:10.270 align:start position:0% going to be providing the same service and<00:35:08.960> so<00:35:09.079> you<00:35:09.240> would<00:35:09.400> be<00:35:09.480> able<00:35:09.680> to<00:35:09.839> switch<00:35:10.119> from 00:35:10.270 --> 00:35:10.280 align:start position:0% and so you would be able to switch from 00:35:10.280 --> 00:35:12.470 align:start position:0% and so you would be able to switch from asking<00:35:10.560> a<00:35:10.920> for<00:35:11.079> service<00:35:11.359> from<00:35:11.480> that<00:35:11.680> chain<00:35:12.280> to 00:35:12.470 --> 00:35:12.480 align:start position:0% asking a for service from that chain to 00:35:12.480 --> 00:35:14.870 align:start position:0% asking a for service from that chain to another<00:35:12.760> chain<00:35:13.119> that's<00:35:13.760> has<00:35:13.880> the<00:35:14.000> same 00:35:14.870 --> 00:35:14.880 align:start position:0% another chain that's has the same 00:35:14.880 --> 00:35:17.870 align:start position:0% another chain that's has the same contracts<00:35:15.880> um<00:35:16.480> kind<00:35:16.599> of<00:35:17.119> another<00:35:17.400> Paradigm 00:35:17.870 --> 00:35:17.880 align:start position:0% contracts um kind of another Paradigm 00:35:17.880 --> 00:35:18.990 align:start position:0% contracts um kind of another Paradigm with<00:35:17.960> this<00:35:18.079> multi-<00:35:18.359> chain<00:35:18.560> stuff<00:35:18.760> is<00:35:18.880> that 00:35:18.990 --> 00:35:19.000 align:start position:0% with this multi- chain stuff is that 00:35:19.000 --> 00:35:20.910 align:start position:0% with this multi- chain stuff is that instead<00:35:19.200> of<00:35:19.359> having<00:35:20.000> kind<00:35:20.119> of<00:35:20.240> ethereum<00:35:20.760> like 00:35:20.910 --> 00:35:20.920 align:start position:0% instead of having kind of ethereum like 00:35:20.920 --> 00:35:22.510 align:start position:0% instead of having kind of ethereum like general<00:35:21.240> purpose<00:35:21.680> chains<00:35:21.960> you'd<00:35:22.200> have 00:35:22.510 --> 00:35:22.520 align:start position:0% general purpose chains you'd have 00:35:22.520 --> 00:35:24.069 align:start position:0% general purpose chains you'd have ethereum<00:35:23.000> like<00:35:23.200> application<00:35:23.720> specific 00:35:24.069 --> 00:35:24.079 align:start position:0% ethereum like application specific 00:35:24.079 --> 00:35:26.109 align:start position:0% ethereum like application specific chains<00:35:24.680> where<00:35:24.880> basically<00:35:25.640> only<00:35:25.880> some 00:35:26.109 --> 00:35:26.119 align:start position:0% chains where basically only some 00:35:26.119 --> 00:35:27.310 align:start position:0% chains where basically only some contracts<00:35:26.560> would<00:35:26.720> be<00:35:26.839> there<00:35:27.000> you<00:35:27.079> wouldn't<00:35:27.240> be 00:35:27.310 --> 00:35:27.320 align:start position:0% contracts would be there you wouldn't be 00:35:27.320 --> 00:35:30.230 align:start position:0% contracts would be there you wouldn't be able<00:35:27.440> to<00:35:27.480> create<00:35:28.000> contracts<00:35:29.000> uh<00:35:29.520> and<00:35:29.680> the<00:35:29.800> idea 00:35:30.230 --> 00:35:30.240 align:start position:0% able to create contracts uh and the idea 00:35:30.240 --> 00:35:31.710 align:start position:0% able to create contracts uh and the idea with<00:35:30.359> the<00:35:30.520> application<00:35:31.000> specific<00:35:31.320> change<00:35:31.599> is 00:35:31.710 --> 00:35:31.720 align:start position:0% with the application specific change is 00:35:31.720 --> 00:35:33.150 align:start position:0% with the application specific change is that<00:35:31.880> basically<00:35:32.280> you<00:35:32.359> know<00:35:32.640> if<00:35:32.720> you<00:35:32.880> know<00:35:33.040> that 00:35:33.150 --> 00:35:33.160 align:start position:0% that basically you know if you know that 00:35:33.160 --> 00:35:34.190 align:start position:0% that basically you know if you know that your<00:35:33.280> application<00:35:33.599> doesn't<00:35:33.760> need<00:35:33.960> any<00:35:34.040> more 00:35:34.190 --> 00:35:34.200 align:start position:0% your application doesn't need any more 00:35:34.200 --> 00:35:35.950 align:start position:0% your application doesn't need any more interoperability<00:35:34.880> with<00:35:35.000> anything<00:35:35.240> else<00:35:35.800> then 00:35:35.950 --> 00:35:35.960 align:start position:0% interoperability with anything else then 00:35:35.960 --> 00:35:37.310 align:start position:0% interoperability with anything else then you<00:35:36.040> could<00:35:36.240> have<00:35:36.400> consensus<00:35:36.839> groups<00:35:37.119> just 00:35:37.310 --> 00:35:37.320 align:start position:0% you could have consensus groups just 00:35:37.320 --> 00:35:38.510 align:start position:0% you could have consensus groups just around<00:35:37.640> those<00:35:37.800> contracts<00:35:38.200> and<00:35:38.280> you<00:35:38.400> don't 00:35:38.510 --> 00:35:38.520 align:start position:0% around those contracts and you don't 00:35:38.520 --> 00:35:40.030 align:start position:0% around those contracts and you don't need<00:35:38.680> to<00:35:38.880> have<00:35:39.040> the<00:35:39.119> same<00:35:39.320> consensus<00:35:39.680> group<00:35:39.880> do 00:35:40.030 --> 00:35:40.040 align:start position:0% need to have the same consensus group do 00:35:40.040 --> 00:35:42.790 align:start position:0% need to have the same consensus group do all<00:35:40.160> these<00:35:40.320> other<00:35:40.800> contracts 00:35:42.790 --> 00:35:42.800 align:start position:0% all these other contracts 00:35:42.800 --> 00:35:46.550 align:start position:0% all these other contracts um<00:35:43.800> yeah<00:35:44.560> yeah<00:35:45.560> I<00:35:45.720> think<00:35:45.920> that's<00:35:46.240> basically 00:35:46.550 --> 00:35:46.560 align:start position:0% um yeah yeah I think that's basically 00:35:46.560 --> 00:35:48.030 align:start position:0% um yeah yeah I think that's basically all<00:35:46.680> that<00:35:46.800> we<00:35:46.880> wanted<00:35:47.079> to<00:35:47.280> discuss<00:35:47.680> so 00:35:48.030 --> 00:35:48.040 align:start position:0% all that we wanted to discuss so 00:35:48.040 --> 00:35:53.190 align:start position:0% all that we wanted to discuss so questions<00:35:49.079> yeah 00:35:53.190 --> 00:35:53.200 align:start position:0% 00:35:53.200 --> 00:36:01.630 align:start position:0% yes<00:35:54.200> camera<00:35:54.920> sorry<00:35:55.440> hold<00:35:55.720> that<00:35:55.920> thought 00:36:01.630 --> 00:36:01.640 align:start position:0% 00:36:01.640 --> 00:36:14.910 align:start position:0% thank<00:36:01.760> you<00:36:01.880> for 00:36:14.910 --> 00:36:14.920 align:start position:0% 00:36:14.920 --> 00:36:17.270 align:start position:0% understand<00:36:15.920> okay<00:36:16.079> so<00:36:16.280> in<00:36:16.400> the<00:36:16.599> very<00:36:16.800> important 00:36:17.270 --> 00:36:17.280 align:start position:0% understand okay so in the very important 00:36:17.280 --> 00:36:20.030 align:start position:0% understand okay so in the very important special<00:36:17.839> case<00:36:18.160> where<00:36:18.359> the<00:36:18.599> state<00:36:19.200> is<00:36:19.480> just<00:36:19.800> a 00:36:20.030 --> 00:36:20.040 align:start position:0% special case where the state is just a 00:36:20.040 --> 00:36:21.430 align:start position:0% special case where the state is just a bunch<00:36:20.240> of<00:36:20.440> account 00:36:21.430 --> 00:36:21.440 align:start position:0% bunch of account 00:36:21.440 --> 00:36:24.710 align:start position:0% bunch of account balances<00:36:22.440> uh<00:36:22.760> there's<00:36:23.200> a<00:36:23.960> common<00:36:24.319> and<00:36:24.520> very 00:36:24.710 --> 00:36:24.720 align:start position:0% balances uh there's a common and very 00:36:24.720 --> 00:36:28.190 align:start position:0% balances uh there's a common and very old<00:36:25.040> idea<00:36:25.599> to<00:36:26.319> uh<00:36:26.839> for<00:36:27.040> scalability 00:36:28.190 --> 00:36:28.200 align:start position:0% old idea to uh for scalability 00:36:28.200 --> 00:36:31.550 align:start position:0% old idea to uh for scalability is<00:36:28.400> that<00:36:28.599> instead<00:36:28.920> of<00:36:30.079> atomic<00:36:31.079> uh 00:36:31.550 --> 00:36:31.560 align:start position:0% is that instead of atomic uh 00:36:31.560 --> 00:36:34.390 align:start position:0% is that instead of atomic uh transactions<00:36:32.480> which<00:36:32.880> take<00:36:33.760> you<00:36:33.920> know<00:36:34.119> some 00:36:34.390 --> 00:36:34.400 align:start position:0% transactions which take you know some 00:36:34.400 --> 00:36:37.750 align:start position:0% transactions which take you know some value<00:36:34.760> from<00:36:35.079> here<00:36:35.480> and<00:36:36.280> uh<00:36:36.839> credit<00:36:37.240> some<00:36:37.440> other 00:36:37.750 --> 00:36:37.760 align:start position:0% value from here and uh credit some other 00:36:37.760 --> 00:36:40.069 align:start position:0% value from here and uh credit some other account<00:36:38.359> you<00:36:38.560> split<00:36:39.079> these<00:36:39.400> transactions 00:36:40.069 --> 00:36:40.079 align:start position:0% account you split these transactions 00:36:40.079 --> 00:36:42.510 align:start position:0% account you split these transactions into<00:36:40.319> two<00:36:40.599> into<00:36:40.839> a<00:36:41.040> debit<00:36:41.319> and<00:36:41.480> a<00:36:41.640> credit 00:36:42.510 --> 00:36:42.520 align:start position:0% into two into a debit and a credit 00:36:42.520 --> 00:36:45.910 align:start position:0% into two into a debit and a credit transaction<00:36:43.520> and<00:36:43.960> whatever<00:36:44.480> service 00:36:45.910 --> 00:36:45.920 align:start position:0% transaction and whatever service 00:36:45.920 --> 00:36:49.710 align:start position:0% transaction and whatever service needs<00:36:46.920> need<00:36:47.520> needs<00:36:48.520> providing<00:36:49.160> in<00:36:49.359> exchange 00:36:49.710 --> 00:36:49.720 align:start position:0% needs need needs providing in exchange 00:36:49.720 --> 00:36:51.870 align:start position:0% needs need needs providing in exchange for<00:36:49.960> this<00:36:50.160> transfer<00:36:50.839> you<00:36:50.960> make<00:36:51.200> it<00:36:51.359> only 00:36:51.870 --> 00:36:51.880 align:start position:0% for this transfer you make it only 00:36:51.880 --> 00:36:54.390 align:start position:0% for this transfer you make it only conditional<00:36:52.359> on<00:36:52.599> the<00:36:52.839> debit<00:36:53.200> transaction<00:36:54.200> and 00:36:54.390 --> 00:36:54.400 align:start position:0% conditional on the debit transaction and 00:36:54.400 --> 00:36:56.710 align:start position:0% conditional on the debit transaction and then<00:36:54.640> you<00:36:55.040> settle<00:36:55.599> the<00:36:56.240> the<00:36:56.400> debit 00:36:56.710 --> 00:36:56.720 align:start position:0% then you settle the the debit 00:36:56.720 --> 00:36:59.270 align:start position:0% then you settle the the debit transaction<00:36:57.359> the<00:36:57.599> credit<00:36:58.280> transactions 00:36:59.270 --> 00:36:59.280 align:start position:0% transaction the credit transactions 00:36:59.280 --> 00:37:02.950 align:start position:0% transaction the credit transactions later<00:36:59.680> when<00:36:59.839> you<00:37:00.000> have<00:37:00.480> time<00:37:01.480> and<00:37:02.119> this<00:37:02.400> way 00:37:02.950 --> 00:37:02.960 align:start position:0% later when you have time and this way 00:37:02.960 --> 00:37:05.349 align:start position:0% later when you have time and this way you<00:37:03.119> can<00:37:03.400> do<00:37:04.040> interoperability<00:37:05.040> between 00:37:05.349 --> 00:37:05.359 align:start position:0% you can do interoperability between 00:37:05.359 --> 00:37:07.150 align:start position:0% you can do interoperability between different<00:37:05.720> chains<00:37:06.119> because<00:37:06.560> on<00:37:06.720> one<00:37:06.880> chain 00:37:07.150 --> 00:37:07.160 align:start position:0% different chains because on one chain 00:37:07.160 --> 00:37:09.349 align:start position:0% different chains because on one chain you<00:37:07.599> if<00:37:07.920> if<00:37:08.000> you<00:37:08.200> compartmentalize<00:37:09.119> by 00:37:09.349 --> 00:37:09.359 align:start position:0% you if if you compartmentalize by 00:37:09.359 --> 00:37:12.190 align:start position:0% you if if you compartmentalize by accounts<00:37:10.359> then<00:37:10.560> you<00:37:10.720> can<00:37:11.000> basically<00:37:11.680> generate 00:37:12.190 --> 00:37:12.200 align:start position:0% accounts then you can basically generate 00:37:12.200 --> 00:37:14.309 align:start position:0% accounts then you can basically generate debit<00:37:12.560> transactions<00:37:13.319> as<00:37:13.560> fast<00:37:13.839> as<00:37:13.960> you<00:37:14.079> need 00:37:14.309 --> 00:37:14.319 align:start position:0% debit transactions as fast as you need 00:37:14.319 --> 00:37:15.910 align:start position:0% debit transactions as fast as you need to<00:37:15.119> and 00:37:15.910 --> 00:37:15.920 align:start position:0% to and 00:37:15.920 --> 00:37:19.069 align:start position:0% to and then<00:37:16.920> you<00:37:17.119> can<00:37:17.319> you<00:37:17.440> can<00:37:17.560> do<00:37:17.760> the<00:37:17.960> deits<00:37:18.880> and 00:37:19.069 --> 00:37:19.079 align:start position:0% then you can you can do the deits and 00:37:19.079 --> 00:37:21.630 align:start position:0% then you can you can do the deits and the<00:37:19.280> genius<00:37:20.079> one<00:37:20.240> of<00:37:20.359> the<00:37:20.520> genius<00:37:21.000> ideas<00:37:21.400> of 00:37:21.630 --> 00:37:21.640 align:start position:0% the genius one of the genius ideas of 00:37:21.640 --> 00:37:25.150 align:start position:0% the genius one of the genius ideas of Bitcoin<00:37:22.440> which<00:37:22.839> I<00:37:23.119> think<00:37:24.119> didn't<00:37:24.599> receive<00:37:25.000> as 00:37:25.150 --> 00:37:25.160 align:start position:0% Bitcoin which I think didn't receive as 00:37:25.160 --> 00:37:28.069 align:start position:0% Bitcoin which I think didn't receive as much<00:37:25.440> attention<00:37:26.440> is<00:37:26.680> that<00:37:26.920> what<00:37:27.079> they<00:37:27.280> did 00:37:28.069 --> 00:37:28.079 align:start position:0% much attention is that what they did 00:37:28.079 --> 00:37:31.430 align:start position:0% much attention is that what they did is<00:37:28.359> that<00:37:28.599> they<00:37:28.800> put<00:37:29.480> together<00:37:30.480> the<00:37:30.880> credit<00:37:31.240> and 00:37:31.430 --> 00:37:31.440 align:start position:0% is that they put together the credit and 00:37:31.440 --> 00:37:33.630 align:start position:0% is that they put together the credit and the<00:37:31.640> debit<00:37:32.000> but<00:37:32.160> the<00:37:32.280> other<00:37:32.520> way<00:37:32.720> around<00:37:33.440> so 00:37:33.630 --> 00:37:33.640 align:start position:0% the debit but the other way around so 00:37:33.640 --> 00:37:36.270 align:start position:0% the debit but the other way around so it's<00:37:33.800> not<00:37:34.079> Atomic<00:37:34.560> in<00:37:34.720> the<00:37:34.880> sense<00:37:35.280> that<00:37:35.599> the 00:37:36.270 --> 00:37:36.280 align:start position:0% it's not Atomic in the sense that the 00:37:36.280 --> 00:37:38.550 align:start position:0% it's not Atomic in the sense that the something<00:37:36.960> is<00:37:37.160> taken<00:37:37.520> from<00:37:37.839> here<00:37:38.119> and 00:37:38.550 --> 00:37:38.560 align:start position:0% something is taken from here and 00:37:38.560 --> 00:37:41.030 align:start position:0% something is taken from here and deposited<00:37:39.280> there<00:37:39.839> but<00:37:40.000> the<00:37:40.119> other<00:37:40.359> way<00:37:40.599> around 00:37:41.030 --> 00:37:41.040 align:start position:0% deposited there but the other way around 00:37:41.040 --> 00:37:45.190 align:start position:0% deposited there but the other way around that<00:37:41.560> they<00:37:41.760> notic<00:37:42.960> that<00:37:43.960> uh<00:37:44.720> you<00:37:44.839> know<00:37:45.040> you 00:37:45.190 --> 00:37:45.200 align:start position:0% that they notic that uh you know you 00:37:45.200 --> 00:37:48.109 align:start position:0% that they notic that uh you know you don't<00:37:45.520> need<00:37:45.960> the<00:37:46.440> you<00:37:46.560> don't<00:37:46.839> need<00:37:47.079> the<00:37:47.280> credit 00:37:48.109 --> 00:37:48.119 align:start position:0% don't need the you don't need the credit 00:37:48.119 --> 00:37:49.870 align:start position:0% don't need the you don't need the credit transaction<00:37:48.839> before<00:37:49.079> you<00:37:49.280> actually<00:37:49.520> want<00:37:49.720> to 00:37:49.870 --> 00:37:49.880 align:start position:0% transaction before you actually want to 00:37:49.880 --> 00:37:52.670 align:start position:0% transaction before you actually want to spend<00:37:50.280> that<00:37:50.520> amount<00:37:51.520> so<00:37:51.920> what<00:37:52.040> a<00:37:52.240> Bitcoin 00:37:52.670 --> 00:37:52.680 align:start position:0% spend that amount so what a Bitcoin 00:37:52.680 --> 00:37:56.309 align:start position:0% spend that amount so what a Bitcoin transaction<00:37:53.319> actually<00:37:53.960> does<00:37:54.960> is<00:37:55.520> that<00:37:56.079> it 00:37:56.309 --> 00:37:56.319 align:start position:0% transaction actually does is that it 00:37:56.319 --> 00:37:59.109 align:start position:0% transaction actually does is that it deposits<00:37:57.200> the<00:37:57.920> amount<00:37:58.359> and<00:37:58.560> immediately 00:37:59.109 --> 00:37:59.119 align:start position:0% deposits the amount and immediately 00:37:59.119 --> 00:38:00.470 align:start position:0% deposits the amount and immediately takes<00:37:59.359> it 00:38:00.470 --> 00:38:00.480 align:start position:0% takes it 00:38:00.480 --> 00:38:03.510 align:start position:0% takes it away<00:38:01.480> so<00:38:02.359> uh<00:38:02.560> they<00:38:02.680> don't<00:38:02.960> even<00:38:03.200> have<00:38:03.319> the 00:38:03.510 --> 00:38:03.520 align:start position:0% away so uh they don't even have the 00:38:03.520 --> 00:38:05.829 align:start position:0% away so uh they don't even have the explicit<00:38:03.960> balance<00:38:04.440> state<00:38:05.000> so<00:38:05.200> in<00:38:05.319> the<00:38:05.480> Bitcoin 00:38:05.829 --> 00:38:05.839 align:start position:0% explicit balance state so in the Bitcoin 00:38:05.839 --> 00:38:07.829 align:start position:0% explicit balance state so in the Bitcoin Network<00:38:06.240> you<00:38:06.359> don't<00:38:06.680> have<00:38:07.119> in<00:38:07.280> the<00:38:07.440> state<00:38:07.720> you 00:38:07.829 --> 00:38:07.839 align:start position:0% Network you don't have in the state you 00:38:07.839 --> 00:38:10.069 align:start position:0% Network you don't have in the state you don't<00:38:08.000> have<00:38:08.119> the<00:38:08.280> excit<00:38:08.720> balance<00:38:09.400> and<00:38:09.599> I<00:38:09.760> think 00:38:10.069 --> 00:38:10.079 align:start position:0% don't have the excit balance and I think 00:38:10.079 --> 00:38:12.950 align:start position:0% don't have the excit balance and I think that<00:38:10.400> in<00:38:10.599> in<00:38:10.800> ethereum<00:38:11.520> since<00:38:12.240> the<00:38:12.440> balances 00:38:12.950 --> 00:38:12.960 align:start position:0% that in in ethereum since the balances 00:38:12.960 --> 00:38:16.190 align:start position:0% that in in ethereum since the balances are<00:38:13.240> part<00:38:13.520> of<00:38:13.720> this<00:38:14.000> state<00:38:14.960> maybe<00:38:15.319> we<00:38:15.440> should 00:38:16.190 --> 00:38:16.200 align:start position:0% are part of this state maybe we should 00:38:16.200 --> 00:38:18.390 align:start position:0% are part of this state maybe we should consider<00:38:17.200> you<00:38:17.359> know<00:38:17.560> splitting<00:38:18.079> up 00:38:18.390 --> 00:38:18.400 align:start position:0% consider you know splitting up 00:38:18.400 --> 00:38:22.589 align:start position:0% consider you know splitting up transactions<00:38:19.280> that<00:38:19.520> modify<00:38:20.200> more<00:38:20.440> than<00:38:20.720> one 00:38:22.589 --> 00:38:22.599 align:start position:0% transactions that modify more than one 00:38:22.599 --> 00:38:25.390 align:start position:0% transactions that modify more than one variable<00:38:23.599> in<00:38:23.839> particular<00:38:24.520> in<00:38:24.760> case<00:38:25.040> of 00:38:25.390 --> 00:38:25.400 align:start position:0% variable in particular in case of 00:38:25.400 --> 00:38:28.950 align:start position:0% variable in particular in case of transfers<00:38:26.119> they<00:38:26.280> modify<00:38:26.800> two<00:38:27.000> Balan<00:38:27.599> is<00:38:28.280> to<00:38:28.800> to 00:38:28.950 --> 00:38:28.960 align:start position:0% transfers they modify two Balan is to to 00:38:28.960 --> 00:38:30.910 align:start position:0% transfers they modify two Balan is to to split<00:38:29.280> them<00:38:29.440> up<00:38:29.599> into<00:38:29.839> two<00:38:30.079> transactions<00:38:30.720> and 00:38:30.910 --> 00:38:30.920 align:start position:0% split them up into two transactions and 00:38:30.920 --> 00:38:32.670 align:start position:0% split them up into two transactions and make<00:38:31.119> one<00:38:31.359> transaction<00:38:32.119> conditional<00:38:32.359> on<00:38:32.520> the 00:38:32.670 --> 00:38:32.680 align:start position:0% make one transaction conditional on the 00:38:32.680 --> 00:38:34.829 align:start position:0% make one transaction conditional on the balance<00:38:33.359> and<00:38:33.520> make<00:38:33.720> the<00:38:33.839> other<00:38:34.119> transaction 00:38:34.829 --> 00:38:34.839 align:start position:0% balance and make the other transaction 00:38:34.839 --> 00:38:36.390 align:start position:0% balance and make the other transaction condition<00:38:35.119> on<00:38:35.319> the<00:38:35.560> success<00:38:35.920> of<00:38:36.079> the<00:38:36.200> first 00:38:36.390 --> 00:38:36.400 align:start position:0% condition on the success of the first 00:38:36.400 --> 00:38:38.150 align:start position:0% condition on the success of the first transaction<00:38:36.920> so<00:38:37.200> so<00:38:37.400> that<00:38:37.599> that<00:38:37.720> is<00:38:37.920> kind<00:38:38.040> of 00:38:38.150 --> 00:38:38.160 align:start position:0% transaction so so that that is kind of 00:38:38.160 --> 00:38:39.589 align:start position:0% transaction so so that that is kind of what<00:38:38.280> the<00:38:38.400> atomic<00:38:38.760> protocol<00:38:39.200> does<00:38:39.440> it 00:38:39.589 --> 00:38:39.599 align:start position:0% what the atomic protocol does it 00:38:39.599 --> 00:38:40.470 align:start position:0% what the atomic protocol does it basically<00:38:39.880> makes<00:38:40.079> sure<00:38:40.200> that<00:38:40.319> one 00:38:40.470 --> 00:38:40.480 align:start position:0% basically makes sure that one 00:38:40.480 --> 00:38:41.829 align:start position:0% basically makes sure that one transaction<00:38:40.920> can<00:38:41.079> only<00:38:41.280> go<00:38:41.440> through<00:38:41.599> if<00:38:41.760> the 00:38:41.829 --> 00:38:41.839 align:start position:0% transaction can only go through if the 00:38:41.839 --> 00:38:43.550 align:start position:0% transaction can only go through if the other<00:38:41.960> one<00:38:42.119> can<00:38:42.319> go<00:38:42.440> through<00:38:42.960> but<00:38:43.119> it<00:38:43.240> does<00:38:43.359> it 00:38:43.550 --> 00:38:43.560 align:start position:0% other one can go through but it does it 00:38:43.560 --> 00:38:45.790 align:start position:0% other one can go through but it does it without<00:38:43.880> requiring<00:38:44.520> any<00:38:44.760> information<00:38:45.640> from 00:38:45.790 --> 00:38:45.800 align:start position:0% without requiring any information from 00:38:45.800 --> 00:38:47.150 align:start position:0% without requiring any information from one<00:38:46.040> consensus<00:38:46.520> group<00:38:46.760> in<00:38:46.880> the<00:38:46.960> other 00:38:47.150 --> 00:38:47.160 align:start position:0% one consensus group in the other 00:38:47.160 --> 00:38:49.430 align:start position:0% one consensus group in the other consensus<00:38:47.599> group<00:38:47.960> except<00:38:48.240> for<00:38:48.560> the<00:38:48.839> prage<00:38:49.280> of 00:38:49.430 --> 00:38:49.440 align:start position:0% consensus group except for the prage of 00:38:49.440 --> 00:38:51.750 align:start position:0% consensus group except for the prage of hash<00:38:50.160> which<00:38:50.240> is<00:38:50.440> kind<00:38:50.560> of<00:38:50.960> more<00:38:51.200> light<00:38:51.520> weight 00:38:51.750 --> 00:38:51.760 align:start position:0% hash which is kind of more light weight 00:38:51.760 --> 00:38:53.270 align:start position:0% hash which is kind of more light weight than<00:38:51.960> having<00:38:52.200> this<00:38:52.359> chain<00:38:52.680> check<00:38:52.960> if<00:38:53.119> some 00:38:53.270 --> 00:38:53.280 align:start position:0% than having this chain check if some 00:38:53.280 --> 00:38:55.030 align:start position:0% than having this chain check if some transaction<00:38:53.720> went<00:38:53.920> through<00:38:54.119> on<00:38:54.240> the<00:38:54.359> other 00:38:55.030 --> 00:38:55.040 align:start position:0% transaction went through on the other 00:38:55.040 --> 00:38:57.470 align:start position:0% transaction went through on the other chain<00:38:56.040> because<00:38:56.319> all<00:38:56.440> you<00:38:56.520> need<00:38:56.640> to<00:38:56.839> know<00:38:57.160> is 00:38:57.470 --> 00:38:57.480 align:start position:0% chain because all you need to know is 00:38:57.480 --> 00:38:59.589 align:start position:0% chain because all you need to know is whether<00:38:57.640> or<00:38:57.760> not<00:38:58.119> some<00:38:58.560> something<00:38:58.800> the<00:38:58.920> has<00:38:59.480> is 00:38:59.589 --> 00:38:59.599 align:start position:0% whether or not some something the has is 00:38:59.599 --> 00:39:01.870 align:start position:0% whether or not some something the has is provided<00:39:00.520> oh<00:39:00.680> but<00:39:00.839> that's<00:39:01.040> interactive<00:39:01.720> but 00:39:01.870 --> 00:39:01.880 align:start position:0% provided oh but that's interactive but 00:39:01.880 --> 00:39:04.030 align:start position:0% provided oh but that's interactive but here<00:39:02.040> you<00:39:02.160> can<00:39:02.400> carry<00:39:02.680> the<00:39:02.839> proof<00:39:03.200> with<00:39:03.359> you<00:39:03.760> so 00:39:04.030 --> 00:39:04.040 align:start position:0% here you can carry the proof with you so 00:39:04.040 --> 00:39:05.829 align:start position:0% here you can carry the proof with you so basically<00:39:04.440> if<00:39:04.560> you<00:39:04.720> have<00:39:04.880> a<00:39:05.079> successful 00:39:05.829 --> 00:39:05.839 align:start position:0% basically if you have a successful 00:39:05.839 --> 00:39:09.750 align:start position:0% basically if you have a successful deposit<00:39:06.680> uh<00:39:06.880> a<00:39:07.119> successful<00:39:08.079> uh<00:39:08.720> successful<00:39:09.599> uh 00:39:09.750 --> 00:39:09.760 align:start position:0% deposit uh a successful uh successful uh 00:39:09.760 --> 00:39:13.030 align:start position:0% deposit uh a successful uh successful uh debit<00:39:10.160> on<00:39:10.359> one<00:39:10.880> chain<00:39:11.880> uh<00:39:12.160> if<00:39:12.359> if<00:39:12.520> if<00:39:12.640> it<00:39:12.800> gets 00:39:13.030 --> 00:39:13.040 align:start position:0% debit on one chain uh if if if it gets 00:39:13.040 --> 00:39:14.990 align:start position:0% debit on one chain uh if if if it gets confirmed<00:39:13.720> it's<00:39:13.839> a<00:39:14.079> finite<00:39:14.520> package<00:39:14.800> of 00:39:14.990 --> 00:39:15.000 align:start position:0% confirmed it's a finite package of 00:39:15.000 --> 00:39:17.230 align:start position:0% confirmed it's a finite package of information<00:39:16.000> that<00:39:16.119> you<00:39:16.240> can<00:39:16.480> carry<00:39:16.760> away<00:39:17.119> and 00:39:17.230 --> 00:39:17.240 align:start position:0% information that you can carry away and 00:39:17.240 --> 00:39:19.230 align:start position:0% information that you can carry away and you<00:39:17.359> can<00:39:17.599> present<00:39:17.880> it<00:39:18.040> at<00:39:18.280> that<00:39:18.480> chain<00:39:18.960> and<00:39:19.079> it 00:39:19.230 --> 00:39:19.240 align:start position:0% you can present it at that chain and it 00:39:19.240 --> 00:39:22.030 align:start position:0% you can present it at that chain and it gets<00:39:19.520> deposited<00:39:20.240> without<00:39:21.200> so<00:39:21.680> so<00:39:21.839> that's 00:39:22.030 --> 00:39:22.040 align:start position:0% gets deposited without so so that's 00:39:22.040 --> 00:39:24.190 align:start position:0% gets deposited without so so that's either<00:39:22.280> a<00:39:22.480> subprotocol<00:39:23.200> level<00:39:23.440> or<00:39:23.560> a<00:39:23.760> protocol 00:39:24.190 --> 00:39:24.200 align:start position:0% either a subprotocol level or a protocol 00:39:24.200 --> 00:39:26.470 align:start position:0% either a subprotocol level or a protocol level<00:39:24.520> thing<00:39:25.319> that's<00:39:25.599> more<00:39:26.079> that's<00:39:26.280> more 00:39:26.470 --> 00:39:26.480 align:start position:0% level thing that's more that's more 00:39:26.480 --> 00:39:29.950 align:start position:0% level thing that's more that's more likely<00:39:26.839> sort<00:39:27.000> of<00:39:27.560> chain<00:39:27.880> scale<00:39:28.520> charting<00:39:29.520> type 00:39:29.950 --> 00:39:29.960 align:start position:0% likely sort of chain scale charting type 00:39:29.960 --> 00:39:31.910 align:start position:0% likely sort of chain scale charting type approach<00:39:30.960> but<00:39:31.040> you<00:39:31.119> can<00:39:31.240> do<00:39:31.400> that<00:39:31.560> also<00:39:31.760> by 00:39:31.910 --> 00:39:31.920 align:start position:0% approach but you can do that also by 00:39:31.920 --> 00:39:33.829 align:start position:0% approach but you can do that also by extending<00:39:32.319> consensus<00:39:32.920> in<00:39:33.079> between<00:39:33.599> between 00:39:33.829 --> 00:39:33.839 align:start position:0% extending consensus in between between 00:39:33.839 --> 00:39:35.750 align:start position:0% extending consensus in between between chains<00:39:34.359> yeah<00:39:34.480> you<00:39:34.640> could 00:39:35.750 --> 00:39:35.760 align:start position:0% chains yeah you could 00:39:35.760 --> 00:39:38.630 align:start position:0% chains yeah you could but<00:39:36.760> yeah<00:39:36.880> so<00:39:37.319> but<00:39:37.440> it<00:39:37.640> fits<00:39:37.960> more<00:39:38.200> in<00:39:38.319> the<00:39:38.480> sort 00:39:38.630 --> 00:39:38.640 align:start position:0% but yeah so but it fits more in the sort 00:39:38.640 --> 00:39:42.030 align:start position:0% but yeah so but it fits more in the sort of<00:39:38.760> single<00:39:39.040> chain<00:39:39.640> Paradigm<00:39:40.640> yeah<00:39:40.880> so<00:39:41.640> that's 00:39:42.030 --> 00:39:42.040 align:start position:0% of single chain Paradigm yeah so that's 00:39:42.040 --> 00:39:45.349 align:start position:0% of single chain Paradigm yeah so that's a<00:39:43.000> yeah<00:39:43.160> it's<00:39:43.599> a<00:39:43.760> sharting<00:39:44.240> approach<00:39:44.640> it<00:39:44.880> has<00:39:45.200> I 00:39:45.349 --> 00:39:45.359 align:start position:0% a yeah it's a sharting approach it has I 00:39:45.359 --> 00:39:47.589 align:start position:0% a yeah it's a sharting approach it has I guess<00:39:45.920> similar<00:39:46.520> similar<00:39:46.880> properties<00:39:47.359> Ty<00:39:47.520> of 00:39:47.589 --> 00:39:47.599 align:start position:0% guess similar similar properties Ty of 00:39:47.599 --> 00:39:49.870 align:start position:0% guess similar similar properties Ty of sharting<00:39:48.040> approaches<00:39:49.040> the<00:39:49.160> main<00:39:49.560> the<00:39:49.640> main 00:39:49.870 --> 00:39:49.880 align:start position:0% sharting approaches the main the main 00:39:49.880 --> 00:39:52.430 align:start position:0% sharting approaches the main the main issue<00:39:50.160> of<00:39:50.280> course<00:39:50.520> is<00:39:50.839> that<00:39:51.119> what<00:39:51.240> if<00:39:51.480> you<00:39:51.680> have 00:39:52.430 --> 00:39:52.440 align:start position:0% issue of course is that what if you have 00:39:52.440 --> 00:39:53.870 align:start position:0% issue of course is that what if you have what<00:39:52.560> if<00:39:52.680> you<00:39:52.800> have<00:39:52.920> a<00:39:53.079> de<00:39:53.319> what<00:39:53.440> if<00:39:53.520> you<00:39:53.640> have<00:39:53.720> a 00:39:53.870 --> 00:39:53.880 align:start position:0% what if you have a de what if you have a 00:39:53.880 --> 00:39:55.670 align:start position:0% what if you have a de what if you have a debit<00:39:54.160> somewhere<00:39:54.520> and<00:39:54.640> then<00:39:54.760> you<00:39:55.160> try<00:39:55.319> and<00:39:55.440> use 00:39:55.670 --> 00:39:55.680 align:start position:0% debit somewhere and then you try and use 00:39:55.680 --> 00:39:57.750 align:start position:0% debit somewhere and then you try and use that<00:39:55.839> as<00:39:56.119> as<00:39:56.200> a<00:39:56.319> proof<00:39:56.520> to<00:39:56.640> generate<00:39:56.920> a<00:39:57.040> credit 00:39:57.750 --> 00:39:57.760 align:start position:0% that as as a proof to generate a credit 00:39:57.760 --> 00:40:00.190 align:start position:0% that as as a proof to generate a credit twice<00:39:58.760> or<00:39:59.079> or<00:39:59.240> know<00:39:59.400> what<00:39:59.520> if<00:39:59.599> you<00:39:59.920> what<00:40:00.000> if 00:40:00.190 --> 00:40:00.200 align:start position:0% twice or or know what if you what if 00:40:00.200 --> 00:40:02.750 align:start position:0% twice or or know what if you what if helpable<00:40:00.599> spending<00:40:00.960> and<00:40:01.119> so<00:40:01.599> forth<00:40:02.599> but 00:40:02.750 --> 00:40:02.760 align:start position:0% helpable spending and so forth but 00:40:02.760 --> 00:40:05.670 align:start position:0% helpable spending and so forth but that's<00:40:02.920> a<00:40:03.079> local<00:40:03.440> thing<00:40:04.200> right<00:40:05.200> so<00:40:05.440> if<00:40:05.560> you 00:40:05.670 --> 00:40:05.680 align:start position:0% that's a local thing right so if you 00:40:05.680 --> 00:40:08.670 align:start position:0% that's a local thing right so if you want<00:40:06.640> if<00:40:06.760> you<00:40:06.880> want<00:40:07.160> to<00:40:07.480> debit<00:40:07.880> twice<00:40:08.280> using 00:40:08.670 --> 00:40:08.680 align:start position:0% want if you want to debit twice using 00:40:08.680 --> 00:40:11.190 align:start position:0% want if you want to debit twice using the<00:40:08.839> same<00:40:09.359> you<00:40:09.480> want<00:40:09.640> to<00:40:09.800> credit<00:40:10.240> twice<00:40:10.839> using 00:40:11.190 --> 00:40:11.200 align:start position:0% the same you want to credit twice using 00:40:11.200 --> 00:40:14.190 align:start position:0% the same you want to credit twice using the<00:40:11.319> same<00:40:11.560> debit<00:40:12.040> transactions<00:40:13.040> the<00:40:13.839> you<00:40:13.960> know 00:40:14.190 --> 00:40:14.200 align:start position:0% the same debit transactions the you know 00:40:14.200 --> 00:40:17.190 align:start position:0% the same debit transactions the you know the<00:40:14.440> debits<00:40:15.280> of<00:40:15.640> that<00:40:16.119> Target<00:40:16.599> account 00:40:17.190 --> 00:40:17.200 align:start position:0% the debits of that Target account 00:40:17.200 --> 00:40:19.309 align:start position:0% the debits of that Target account they're<00:40:17.480> on<00:40:17.720> that<00:40:17.920> chain<00:40:18.319> so<00:40:18.720> you<00:40:18.880> prevent 00:40:19.309 --> 00:40:19.319 align:start position:0% they're on that chain so you prevent 00:40:19.319 --> 00:40:21.790 align:start position:0% they're on that chain so you prevent double<00:40:19.680> deposits<00:40:20.560> and<00:40:20.800> there<00:40:21.000> you<00:40:21.200> prevent 00:40:21.790 --> 00:40:21.800 align:start position:0% double deposits and there you prevent 00:40:21.800 --> 00:40:23.750 align:start position:0% double deposits and there you prevent double 00:40:23.750 --> 00:40:23.760 align:start position:0% double 00:40:23.760 --> 00:40:28.109 align:start position:0% double withdrawals<00:40:24.760> instead<00:40:25.200> of<00:40:25.560> you<00:40:25.720> know<00:40:26.640> globally 00:40:28.109 --> 00:40:28.119 align:start position:0% withdrawals instead of you know globally 00:40:28.119 --> 00:40:30.910 align:start position:0% withdrawals instead of you know globally globally<00:40:28.800> preventing<00:40:29.280> double<00:40:30.000> double<00:40:30.359> spans 00:40:30.910 --> 00:40:30.920 align:start position:0% globally preventing double double spans 00:40:30.920 --> 00:40:33.109 align:start position:0% globally preventing double double spans you<00:40:31.160> prevent<00:40:31.839> double<00:40:32.200> withdrawals<00:40:32.880> and 00:40:33.109 --> 00:40:33.119 align:start position:0% you prevent double withdrawals and 00:40:33.119 --> 00:40:35.710 align:start position:0% you prevent double withdrawals and double<00:40:33.920> so<00:40:34.160> what<00:40:34.280> if<00:40:34.560> I<00:40:34.920> what<00:40:35.000> if<00:40:35.160> on<00:40:35.480> some 00:40:35.710 --> 00:40:35.720 align:start position:0% double so what if I what if on some 00:40:35.720 --> 00:40:37.510 align:start position:0% double so what if I what if on some local<00:40:36.000> chain<00:40:36.440> I<00:40:36.640> I<00:40:36.760> make<00:40:36.880> a<00:40:37.000> withdrawal<00:40:37.440> and 00:40:37.510 --> 00:40:37.520 align:start position:0% local chain I I make a withdrawal and 00:40:37.520 --> 00:40:38.670 align:start position:0% local chain I I make a withdrawal and then<00:40:37.599> I<00:40:37.680> immediately<00:40:38.079> double<00:40:38.319> span<00:40:38.560> that 00:40:38.670 --> 00:40:38.680 align:start position:0% then I immediately double span that 00:40:38.680 --> 00:40:42.190 align:start position:0% then I immediately double span that withdrawal<00:40:39.280> locally<00:40:40.280> well<00:40:40.400> for<00:40:40.880> sorry<00:40:41.880> we<00:40:42.119> we 00:40:42.190 --> 00:40:42.200 align:start position:0% withdrawal locally well for sorry we we 00:40:42.200 --> 00:40:44.030 align:start position:0% withdrawal locally well for sorry we we haven't<00:40:42.359> even<00:40:42.520> talked<00:40:42.680> about<00:40:42.800> for<00:40:43.000> in<00:40:43.839> so 00:40:44.030 --> 00:40:44.040 align:start position:0% haven't even talked about for in so 00:40:44.040 --> 00:40:46.270 align:start position:0% haven't even talked about for in so Forks<00:40:44.760> always<00:40:45.240> basically<00:40:45.599> lead<00:40:45.880> to<00:40:46.079> you 00:40:46.270 --> 00:40:46.280 align:start position:0% Forks always basically lead to you 00:40:46.280 --> 00:40:48.430 align:start position:0% Forks always basically lead to you having<00:40:46.480> to<00:40:46.640> wait<00:40:46.800> for<00:40:46.960> interoperability 00:40:48.430 --> 00:40:48.440 align:start position:0% having to wait for interoperability 00:40:48.440 --> 00:40:50.870 align:start position:0% having to wait for interoperability functionality<00:40:49.440> um<00:40:50.000> because<00:40:50.560> you<00:40:50.680> know 00:40:50.870 --> 00:40:50.880 align:start position:0% functionality um because you know 00:40:50.880 --> 00:40:53.230 align:start position:0% functionality um because you know anything<00:40:51.160> can<00:40:51.319> be<00:40:51.440> roll<00:40:51.720> back<00:40:51.839> in<00:40:51.960> a<00:40:52.079> for<00:40:52.640> yeah 00:40:53.230 --> 00:40:53.240 align:start position:0% anything can be roll back in a for yeah 00:40:53.240 --> 00:40:56.430 align:start position:0% anything can be roll back in a for yeah um<00:40:53.839> so<00:40:54.640> that's<00:40:54.880> why<00:40:55.200> non<00:40:55.680> having<00:40:55.880> non<00:40:56.079> for 00:40:56.430 --> 00:40:56.440 align:start position:0% um so that's why non having non for 00:40:56.440 --> 00:40:58.230 align:start position:0% um so that's why non having non for chains<00:40:56.720> of<00:40:57.560> would<00:40:57.800> really<00:40:58.000> help 00:40:58.230 --> 00:40:58.240 align:start position:0% chains of would really help 00:40:58.240 --> 00:40:59.790 align:start position:0% chains of would really help interoperability<00:40:59.079> Solutions<00:40:59.640> and 00:40:59.790 --> 00:40:59.800 align:start position:0% interoperability Solutions and 00:40:59.800 --> 00:41:02.710 align:start position:0% interoperability Solutions and blockchain<00:41:00.160> scaling<00:41:00.760> Solutions<00:41:01.760> um<00:41:02.560> one 00:41:02.710 --> 00:41:02.720 align:start position:0% blockchain scaling Solutions um one 00:41:02.720 --> 00:41:04.069 align:start position:0% blockchain scaling Solutions um one thing<00:41:02.880> I<00:41:03.000> haven't<00:41:03.359> mentioned<00:41:03.720> yet<00:41:03.839> which<00:41:03.960> I 00:41:04.069 --> 00:41:04.079 align:start position:0% thing I haven't mentioned yet which I 00:41:04.079 --> 00:41:06.430 align:start position:0% thing I haven't mentioned yet which I really<00:41:04.280> like<00:41:04.400> to<00:41:04.480> mention<00:41:04.760> is<00:41:05.000> this<00:41:05.200> idea<00:41:05.599> that 00:41:06.430 --> 00:41:06.440 align:start position:0% really like to mention is this idea that 00:41:06.440 --> 00:41:07.870 align:start position:0% really like to mention is this idea that uh<00:41:06.920> one<00:41:07.040> of<00:41:07.119> the<00:41:07.200> things<00:41:07.319> that<00:41:07.440> I<00:41:07.520> find<00:41:07.680> really 00:41:07.870 --> 00:41:07.880 align:start position:0% uh one of the things that I find really 00:41:07.880 --> 00:41:10.270 align:start position:0% uh one of the things that I find really helpful<00:41:08.480> for<00:41:08.720> thinking<00:41:09.040> about<00:41:09.720> uh<00:41:09.880> blockchain 00:41:10.270 --> 00:41:10.280 align:start position:0% helpful for thinking about uh blockchain 00:41:10.280 --> 00:41:13.270 align:start position:0% helpful for thinking about uh blockchain scaling<00:41:10.720> is<00:41:10.920> that<00:41:11.480> it's<00:41:12.480> so<00:41:12.680> the<00:41:12.800> client<00:41:13.079> is 00:41:13.270 --> 00:41:13.280 align:start position:0% scaling is that it's so the client is 00:41:13.280 --> 00:41:15.430 align:start position:0% scaling is that it's so the client is serving<00:41:13.599> the<00:41:13.760> user<00:41:14.359> and<00:41:14.640> the<00:41:14.839> client<00:41:15.119> uses 00:41:15.430 --> 00:41:15.440 align:start position:0% serving the user and the client uses 00:41:15.440 --> 00:41:17.230 align:start position:0% serving the user and the client uses chains<00:41:15.760> to<00:41:15.920> serve<00:41:16.160> the<00:41:16.280> user<00:41:16.720> it's<00:41:16.880> not<00:41:17.079> that 00:41:17.230 --> 00:41:17.240 align:start position:0% chains to serve the user it's not that 00:41:17.240 --> 00:41:20.030 align:start position:0% chains to serve the user it's not that the<00:41:17.359> client<00:41:17.640> is<00:41:17.760> serving<00:41:18.079> the<00:41:18.200> chain<00:41:19.079> and<00:41:19.240> so 00:41:20.030 --> 00:41:20.040 align:start position:0% the client is serving the chain and so 00:41:20.040 --> 00:41:23.390 align:start position:0% the client is serving the chain and so uh<00:41:21.040> if<00:41:21.280> a<00:41:21.400> user<00:41:21.680> has<00:41:21.800> a<00:41:21.920> consensus<00:41:22.319> grp 00:41:23.390 --> 00:41:23.400 align:start position:0% uh if a user has a consensus grp 00:41:23.400 --> 00:41:26.069 align:start position:0% uh if a user has a consensus grp here<00:41:24.400> I<00:41:24.599> think<00:41:24.839> they<00:41:24.960> would<00:41:25.200> prefer<00:41:25.599> to<00:41:25.839> not 00:41:26.069 --> 00:41:26.079 align:start position:0% here I think they would prefer to not 00:41:26.079 --> 00:41:28.109 align:start position:0% here I think they would prefer to not have<00:41:26.319> SPV<00:41:26.800> proof<00:41:27.079> so<00:41:27.359> some<00:41:27.520> other<00:41:27.720> consensus 00:41:28.109 --> 00:41:28.119 align:start position:0% have SPV proof so some other consensus 00:41:28.119 --> 00:41:29.990 align:start position:0% have SPV proof so some other consensus group<00:41:28.359> they're<00:41:28.520> not<00:41:28.760> interested<00:41:29.160> in<00:41:29.680> be 00:41:29.990 --> 00:41:30.000 align:start position:0% group they're not interested in be 00:41:30.000 --> 00:41:31.510 align:start position:0% group they're not interested in be ejected<00:41:30.400> into<00:41:30.640> their 00:41:31.510 --> 00:41:31.520 align:start position:0% ejected into their 00:41:31.520 --> 00:41:33.630 align:start position:0% ejected into their consensus<00:41:32.520> and<00:41:32.720> and<00:41:33.000> that's<00:41:33.160> kind<00:41:33.280> of<00:41:33.400> why<00:41:33.520> I 00:41:33.630 --> 00:41:33.640 align:start position:0% consensus and and that's kind of why I 00:41:33.640 --> 00:41:37.109 align:start position:0% consensus and and that's kind of why I prefer<00:41:33.960> this<00:41:34.119> idea<00:41:34.480> of<00:41:35.160> um<00:41:35.599> Atomic<00:41:36.079> level<00:41:37.000> kind 00:41:37.109 --> 00:41:37.119 align:start position:0% prefer this idea of um Atomic level kind 00:41:37.119 --> 00:41:39.390 align:start position:0% prefer this idea of um Atomic level kind of<00:41:37.359> interoperability<00:41:38.160> on<00:41:38.440> top<00:41:38.960> rather<00:41:39.200> than 00:41:39.390 --> 00:41:39.400 align:start position:0% of interoperability on top rather than 00:41:39.400 --> 00:41:42.230 align:start position:0% of interoperability on top rather than interoperability<00:41:40.119> in<00:41:40.359> protocol<00:41:41.160> because<00:41:41.839> it 00:41:42.230 --> 00:41:42.240 align:start position:0% interoperability in protocol because it 00:41:42.240 --> 00:41:44.589 align:start position:0% interoperability in protocol because it kind<00:41:42.400> of<00:41:42.839> lets<00:41:43.280> the<00:41:43.440> client<00:41:43.800> have<00:41:44.079> more 00:41:44.589 --> 00:41:44.599 align:start position:0% kind of lets the client have more 00:41:44.599 --> 00:41:46.710 align:start position:0% kind of lets the client have more specific<00:41:45.160> narrow<00:41:45.920> consensus<00:41:46.440> that<00:41:46.560> it's 00:41:46.710 --> 00:41:46.720 align:start position:0% specific narrow consensus that it's 00:41:46.720 --> 00:41:49.910 align:start position:0% specific narrow consensus that it's keeping<00:41:47.720> uh<00:41:47.920> and<00:41:48.800> it<00:41:49.200> it<00:41:49.319> is<00:41:49.480> kind<00:41:49.599> of<00:41:49.720> more 00:41:49.910 --> 00:41:49.920 align:start position:0% keeping uh and it it is kind of more 00:41:49.920 --> 00:41:51.430 align:start position:0% keeping uh and it it is kind of more restricted<00:41:50.359> there's<00:41:50.560> less<00:41:50.800> you<00:41:50.880> can<00:41:51.040> do<00:41:51.319> if 00:41:51.430 --> 00:41:51.440 align:start position:0% restricted there's less you can do if 00:41:51.440 --> 00:41:55.069 align:start position:0% restricted there's less you can do if you<00:41:51.640> don't<00:41:52.560> have<00:41:52.800> this<00:41:53.040> kind<00:41:53.200> of<00:41:54.000> uh<00:41:54.560> proof<00:41:54.880> of 00:41:55.069 --> 00:41:55.079 align:start position:0% you don't have this kind of uh proof of 00:41:55.079 --> 00:41:56.670 align:start position:0% you don't have this kind of uh proof of information<00:41:55.599> about<00:41:55.839> what<00:41:55.960> happened<00:41:56.280> in<00:41:56.440> other 00:41:56.670 --> 00:41:56.680 align:start position:0% information about what happened in other 00:41:56.680 --> 00:41:57.910 align:start position:0% information about what happened in other chains 00:41:57.910 --> 00:41:57.920 align:start position:0% chains 00:41:57.920 --> 00:41:59.950 align:start position:0% chains but<00:41:58.800> the<00:41:58.960> Insight<00:41:59.280> is<00:41:59.440> basically<00:41:59.760> that 00:41:59.950 --> 00:41:59.960 align:start position:0% but the Insight is basically that 00:41:59.960 --> 00:42:03.150 align:start position:0% but the Insight is basically that clients<00:42:00.760> can<00:42:01.400> get<00:42:01.560> SV<00:42:01.960> proofs<00:42:02.160> from<00:42:02.319> both 00:42:03.150 --> 00:42:03.160 align:start position:0% clients can get SV proofs from both 00:42:03.160 --> 00:42:05.390 align:start position:0% clients can get SV proofs from both chains<00:42:04.160> without<00:42:04.480> having<00:42:04.680> to<00:42:04.839> get<00:42:05.000> them<00:42:05.200> from 00:42:05.390 --> 00:42:05.400 align:start position:0% chains without having to get them from 00:42:05.400 --> 00:42:08.750 align:start position:0% chains without having to get them from one<00:42:05.640> chain<00:42:06.040> right<00:42:06.760> um<00:42:07.079> so<00:42:07.599> any<00:42:07.960> any<00:42:08.200> client 00:42:08.750 --> 00:42:08.760 align:start position:0% one chain right um so any any client 00:42:08.760 --> 00:42:10.589 align:start position:0% one chain right um so any any client that's<00:42:08.960> looking<00:42:09.160> at<00:42:09.280> both<00:42:09.480> chains<00:42:09.680> will<00:42:09.839> know 00:42:10.589 --> 00:42:10.599 align:start position:0% that's looking at both chains will know 00:42:10.599 --> 00:42:11.670 align:start position:0% that's looking at both chains will know whether<00:42:10.839> something<00:42:11.119> might<00:42:11.240> thre<00:42:11.440> on<00:42:11.560> the 00:42:11.670 --> 00:42:11.680 align:start position:0% whether something might thre on the 00:42:11.680 --> 00:42:14.150 align:start position:0% whether something might thre on the other<00:42:12.040> chain<00:42:13.040> but<00:42:13.599> that<00:42:13.720> doesn't<00:42:13.920> mean<00:42:14.079> that 00:42:14.150 --> 00:42:14.160 align:start position:0% other chain but that doesn't mean that 00:42:14.160 --> 00:42:15.790 align:start position:0% other chain but that doesn't mean that you<00:42:14.359> necessarily<00:42:14.880> need<00:42:15.040> to<00:42:15.160> force<00:42:15.520> every 00:42:15.790 --> 00:42:15.800 align:start position:0% you necessarily need to force every 00:42:15.800 --> 00:42:17.349 align:start position:0% you necessarily need to force every client<00:42:16.079> that's<00:42:16.240> on<00:42:16.400> one<00:42:16.560> chain<00:42:16.800> to<00:42:16.960> know<00:42:17.160> about 00:42:17.349 --> 00:42:17.359 align:start position:0% client that's on one chain to know about 00:42:17.359 --> 00:42:19.630 align:start position:0% client that's on one chain to know about what<00:42:17.480> happened<00:42:17.720> on<00:42:17.839> the<00:42:17.960> other<00:42:18.119> chain<00:42:19.040> um<00:42:19.319> so 00:42:19.630 --> 00:42:19.640 align:start position:0% what happened on the other chain um so 00:42:19.640 --> 00:42:21.630 align:start position:0% what happened on the other chain um so the<00:42:20.000> the<00:42:20.079> ide's<00:42:20.480> inter<00:42:20.839> interoperability 00:42:21.630 --> 00:42:21.640 align:start position:0% the the ide's inter interoperability 00:42:21.640 --> 00:42:22.870 align:start position:0% the the ide's inter interoperability kind<00:42:21.720> of<00:42:21.839> interface<00:42:22.200> chain<00:42:22.440> that<00:42:22.559> know<00:42:22.720> about 00:42:22.870 --> 00:42:22.880 align:start position:0% kind of interface chain that know about 00:42:22.880 --> 00:42:24.150 align:start position:0% kind of interface chain that know about both<00:42:23.040> chains<00:42:23.319> is<00:42:23.400> that<00:42:23.599> those<00:42:23.800> clients<00:42:24.079> that 00:42:24.150 --> 00:42:24.160 align:start position:0% both chains is that those clients that 00:42:24.160 --> 00:42:25.790 align:start position:0% both chains is that those clients that are<00:42:24.319> watching<00:42:24.760> for<00:42:24.920> both<00:42:25.079> chains<00:42:25.400> can<00:42:25.520> form 00:42:25.790 --> 00:42:25.800 align:start position:0% are watching for both chains can form 00:42:25.800 --> 00:42:27.309 align:start position:0% are watching for both chains can form their<00:42:25.920> own<00:42:26.079> consensus<00:42:26.480> group<00:42:26.640> in<00:42:26.720> order<00:42:26.920> to 00:42:27.309 --> 00:42:27.319 align:start position:0% their own consensus group in order to 00:42:27.319 --> 00:42:29.829 align:start position:0% their own consensus group in order to inter<00:42:27.720> operate<00:42:28.480> these<00:42:28.599> two<00:42:28.760> chains<00:42:29.319> without 00:42:29.829 --> 00:42:29.839 align:start position:0% inter operate these two chains without 00:42:29.839 --> 00:42:31.950 align:start position:0% inter operate these two chains without actually<00:42:30.160> injecting<00:42:31.119> information<00:42:31.640> from<00:42:31.800> the 00:42:31.950 --> 00:42:31.960 align:start position:0% actually injecting information from the 00:42:31.960 --> 00:42:34.510 align:start position:0% actually injecting information from the consensuses<00:42:32.880> into<00:42:33.160> other<00:42:33.359> consensuses<00:42:34.319> which 00:42:34.510 --> 00:42:34.520 align:start position:0% consensuses into other consensuses which 00:42:34.520 --> 00:42:36.510 align:start position:0% consensuses into other consensuses which I<00:42:34.800> kind<00:42:34.880> of<00:42:35.079> regard<00:42:35.440> as<00:42:35.599> inconsiderate<00:42:36.280> unless 00:42:36.510 --> 00:42:36.520 align:start position:0% I kind of regard as inconsiderate unless 00:42:36.520 --> 00:42:37.910 align:start position:0% I kind of regard as inconsiderate unless it's 00:42:37.910 --> 00:42:37.920 align:start position:0% it's 00:42:37.920 --> 00:42:40.630 align:start position:0% it's necessary<00:42:38.920> um<00:42:39.680> I<00:42:39.800> haven't<00:42:40.000> found<00:42:40.200> many<00:42:40.400> people 00:42:40.630 --> 00:42:40.640 align:start position:0% necessary um I haven't found many people 00:42:40.640 --> 00:42:42.510 align:start position:0% necessary um I haven't found many people to<00:42:40.800> agree<00:42:41.000> with<00:42:41.119> me<00:42:41.200> on<00:42:41.400> that<00:42:41.640> though<00:42:42.359> in 00:42:42.510 --> 00:42:42.520 align:start position:0% to agree with me on that though in 00:42:42.520 --> 00:42:43.829 align:start position:0% to agree with me on that though in particular<00:42:42.920> in<00:42:43.160> light<00:42:43.319> of<00:42:43.440> the<00:42:43.559> kind<00:42:43.640> of<00:42:43.760> like 00:42:43.829 --> 00:42:43.839 align:start position:0% particular in light of the kind of like 00:42:43.839 --> 00:42:45.510 align:start position:0% particular in light of the kind of like you<00:42:43.920> know<00:42:44.040> block<00:42:44.319> stream<00:42:44.800> two-way<00:42:45.200> pegging 00:42:45.510 --> 00:42:45.520 align:start position:0% you know block stream two-way pegging 00:42:45.520 --> 00:42:46.950 align:start position:0% you know block stream two-way pegging stuff<00:42:45.720> which<00:42:45.839> we<00:42:45.920> haven't<00:42:46.119> talked<00:42:46.319> about<00:42:46.599> yet 00:42:46.950 --> 00:42:46.960 align:start position:0% stuff which we haven't talked about yet 00:42:46.960 --> 00:42:51.270 align:start position:0% stuff which we haven't talked about yet y<00:42:47.800> um<00:42:48.800> that<00:42:49.680> I<00:42:50.400> is<00:42:50.480> it<00:42:50.680> the<00:42:50.839> side<00:42:50.920> chain 00:42:51.270 --> 00:42:51.280 align:start position:0% y um that I is it the side chain 00:42:51.280 --> 00:42:54.390 align:start position:0% y um that I is it the side chain discussion<00:42:51.720> supposed<00:42:51.960> to<00:42:52.040> be<00:42:52.640> later 00:42:54.390 --> 00:42:54.400 align:start position:0% discussion supposed to be later 00:42:54.400 --> 00:42:57.829 align:start position:0% discussion supposed to be later oh<00:42:55.400> okay 00:42:57.829 --> 00:42:57.839 align:start position:0% oh okay 00:42:57.839 --> 00:42:59.790 align:start position:0% oh okay how<00:42:57.960> do<00:42:58.040> you<00:42:58.119> see<00:42:58.319> the<00:42:58.760> upgrade<00:42:59.119> or<00:42:59.280> migration 00:42:59.790 --> 00:42:59.800 align:start position:0% how do you see the upgrade or migration 00:42:59.800 --> 00:43:02.150 align:start position:0% how do you see the upgrade or migration path<00:43:00.040> from<00:43:00.280> ethereum<00:43:00.760> 1.0<00:43:01.280> to<00:43:01.440> 2.0 00:43:02.150 --> 00:43:02.160 align:start position:0% path from ethereum 1.0 to 2.0 00:43:02.160 --> 00:43:03.710 align:start position:0% path from ethereum 1.0 to 2.0 specifically<00:43:02.599> in<00:43:02.760> regards<00:43:03.040> to<00:43:03.280> original 00:43:03.710 --> 00:43:03.720 align:start position:0% specifically in regards to original 00:43:03.720 --> 00:43:07.109 align:start position:0% specifically in regards to original blockchain<00:43:04.400> and<00:43:04.800> so<00:43:05.079> etherum<00:43:06.079> two<00:43:06.640> so<00:43:06.920> from 00:43:07.109 --> 00:43:07.119 align:start position:0% blockchain and so etherum two so from 00:43:07.119 --> 00:43:09.710 align:start position:0% blockchain and so etherum two so from 1.0<00:43:07.640> to<00:43:07.800> 1.1<00:43:08.480> first<00:43:08.680> of<00:43:08.800> all<00:43:08.960> 1.1<00:43:09.480> is<00:43:09.599> just 00:43:09.710 --> 00:43:09.720 align:start position:0% 1.0 to 1.1 first of all 1.1 is just 00:43:09.720 --> 00:43:11.349 align:start position:0% 1.0 to 1.1 first of all 1.1 is just going<00:43:09.839> to<00:43:09.920> introduce<00:43:10.359> some<00:43:10.559> moderate<00:43:11.040> things 00:43:11.349 --> 00:43:11.359 align:start position:0% going to introduce some moderate things 00:43:11.359 --> 00:43:14.069 align:start position:0% going to introduce some moderate things like<00:43:11.520> grou<00:43:11.760> of<00:43:11.920> stake<00:43:12.119> and<00:43:12.280> event<00:43:12.680> trees<00:43:13.640> for 00:43:14.069 --> 00:43:14.079 align:start position:0% like grou of stake and event trees for 00:43:14.079 --> 00:43:17.710 align:start position:0% like grou of stake and event trees for that<00:43:15.079> the<00:43:15.240> approach<00:43:15.640> is<00:43:15.880> to<00:43:16.160> have<00:43:16.480> a 00:43:17.710 --> 00:43:17.720 align:start position:0% that the approach is to have a 00:43:17.720 --> 00:43:21.790 align:start position:0% that the approach is to have a uh<00:43:18.720> is<00:43:18.839> to<00:43:19.040> have<00:43:19.160> a<00:43:19.280> sort<00:43:19.480> of<00:43:19.880> uh<00:43:20.440> mechanism<00:43:21.400> of 00:43:21.790 --> 00:43:21.800 align:start position:0% uh is to have a sort of uh mechanism of 00:43:21.800 --> 00:43:24.829 align:start position:0% uh is to have a sort of uh mechanism of of<00:43:21.960> voting<00:43:22.400> on<00:43:23.040> voting<00:43:23.319> on<00:43:23.520> protocol<00:43:23.960> upgrades 00:43:24.829 --> 00:43:24.839 align:start position:0% of voting on voting on protocol upgrades 00:43:24.839 --> 00:43:26.309 align:start position:0% of voting on voting on protocol upgrades so<00:43:25.040> if<00:43:25.200> you<00:43:25.440> so<00:43:25.640> it's<00:43:25.760> not<00:43:25.920> going<00:43:26.040> to<00:43:26.119> be<00:43:26.240> a 00:43:26.309 --> 00:43:26.319 align:start position:0% so if you so it's not going to be a 00:43:26.319 --> 00:43:28.030 align:start position:0% so if you so it's not going to be a minor<00:43:26.599> based<00:43:26.839> that<00:43:27.240> ISM<00:43:27.480> because<00:43:27.599> it's<00:43:27.760> not 00:43:28.030 --> 00:43:28.040 align:start position:0% minor based that ISM because it's not 00:43:28.040 --> 00:43:28.990 align:start position:0% minor based that ISM because it's not because<00:43:28.240> you<00:43:28.319> know<00:43:28.440> it's<00:43:28.599> not<00:43:28.760> it's<00:43:28.839> going<00:43:28.920> to 00:43:28.990 --> 00:43:29.000 align:start position:0% because you know it's not it's going to 00:43:29.000 --> 00:43:30.510 align:start position:0% because you know it's not it's going to be<00:43:29.119> in<00:43:29.200> minor<00:43:29.599> interest<00:43:29.920> to<00:43:30.040> keep<00:43:30.200> proof<00:43:30.359> of 00:43:30.510 --> 00:43:30.520 align:start position:0% be in minor interest to keep proof of 00:43:30.520 --> 00:43:32.589 align:start position:0% be in minor interest to keep proof of work<00:43:30.760> forever<00:43:31.319> but<00:43:32.119> something<00:43:32.359> you<00:43:32.440> know 00:43:32.589 --> 00:43:32.599 align:start position:0% work forever but something you know 00:43:32.599 --> 00:43:34.670 align:start position:0% work forever but something you know stakeholder<00:43:33.160> driven<00:43:33.680> where<00:43:34.200> if<00:43:34.359> you<00:43:34.520> have 00:43:34.670 --> 00:43:34.680 align:start position:0% stakeholder driven where if you have 00:43:34.680 --> 00:43:37.230 align:start position:0% stakeholder driven where if you have your<00:43:34.920> coins<00:43:35.359> in<00:43:35.520> a<00:43:35.760> contract<00:43:36.280> that<00:43:36.480> has<00:43:36.800> some<00:43:37.119> a 00:43:37.230 --> 00:43:37.240 align:start position:0% your coins in a contract that has some a 00:43:37.240 --> 00:43:38.630 align:start position:0% your coins in a contract that has some a state<00:43:37.440> at<00:43:37.599> some<00:43:37.760> par<00:43:38.000> A<00:43:38.079> Storage<00:43:38.400> at<00:43:38.520> some 00:43:38.630 --> 00:43:38.640 align:start position:0% state at some par A Storage at some 00:43:38.640 --> 00:43:39.990 align:start position:0% state at some par A Storage at some particular<00:43:39.119> key<00:43:39.319> correspond<00:43:39.720> to<00:43:39.839> some 00:43:39.990 --> 00:43:40.000 align:start position:0% particular key correspond to some 00:43:40.000 --> 00:43:41.589 align:start position:0% particular key correspond to some particular<00:43:40.400> value<00:43:41.079> then<00:43:41.200> you're<00:43:41.400> vote 00:43:41.589 --> 00:43:41.599 align:start position:0% particular value then you're vote 00:43:41.599 --> 00:43:43.190 align:start position:0% particular value then you're vote basically<00:43:41.920> voting<00:43:42.280> for<00:43:42.839> you<00:43:42.920> know<00:43:43.079> the 00:43:43.190 --> 00:43:43.200 align:start position:0% basically voting for you know the 00:43:43.200 --> 00:43:45.069 align:start position:0% basically voting for you know the vertical<00:43:43.599> to<00:43:43.720> get<00:43:43.839> upgraded<00:43:44.640> and<00:43:44.880> once 00:43:45.069 --> 00:43:45.079 align:start position:0% vertical to get upgraded and once 00:43:45.079 --> 00:43:46.589 align:start position:0% vertical to get upgraded and once there's<00:43:45.359> some<00:43:45.599> majority<00:43:46.000> in<00:43:46.119> favor<00:43:46.359> of<00:43:46.440> an 00:43:46.589 --> 00:43:46.599 align:start position:0% there's some majority in favor of an 00:43:46.599 --> 00:43:49.470 align:start position:0% there's some majority in favor of an upgrade<00:43:47.599> then<00:43:48.240> the<00:43:48.359> idea<00:43:48.640> is<00:43:48.720> that<00:43:48.960> that<00:43:49.359> the 00:43:49.470 --> 00:43:49.480 align:start position:0% upgrade then the idea is that that the 00:43:49.480 --> 00:43:51.270 align:start position:0% upgrade then the idea is that that the original<00:43:49.839> chain<00:43:50.079> was<00:43:50.240> sort<00:43:50.359> of<00:43:50.520> suicide<00:43:51.079> after 00:43:51.270 --> 00:43:51.280 align:start position:0% original chain was sort of suicide after 00:43:51.280 --> 00:43:53.109 align:start position:0% original chain was sort of suicide after some<00:43:51.440> particular<00:43:51.880> amount<00:43:52.079> of<00:43:52.280> time<00:43:52.760> so<00:43:52.960> all 00:43:53.109 --> 00:43:53.119 align:start position:0% some particular amount of time so all 00:43:53.119 --> 00:43:55.109 align:start position:0% some particular amount of time so all blocks<00:43:53.520> after<00:43:53.920> block<00:43:54.160> number<00:43:54.440> say<00:43:54.640> 1.3 00:43:55.109 --> 00:43:55.119 align:start position:0% blocks after block number say 1.3 00:43:55.119 --> 00:43:57.230 align:start position:0% blocks after block number say 1.3 million<00:43:55.359> will<00:43:55.559> just<00:43:55.680> be<00:43:55.839> invalid<00:43:56.559> and<00:43:56.760> the<00:43:56.880> new 00:43:57.230 --> 00:43:57.240 align:start position:0% million will just be invalid and the new 00:43:57.240 --> 00:43:59.030 align:start position:0% million will just be invalid and the new and<00:43:57.440> then<00:43:58.079> clients<00:43:58.400> would<00:43:58.559> have<00:43:58.720> time<00:43:58.839> to 00:43:59.030 --> 00:43:59.040 align:start position:0% and then clients would have time to 00:43:59.040 --> 00:44:00.870 align:start position:0% and then clients would have time to download<00:44:00.040> a<00:44:00.119> new<00:44:00.280> client<00:44:00.520> and<00:44:00.640> that<00:44:00.760> new 00:44:00.870 --> 00:44:00.880 align:start position:0% download a new client and that new 00:44:00.880 --> 00:44:02.270 align:start position:0% download a new client and that new client<00:44:01.160> would<00:44:01.359> support<00:44:01.640> the<00:44:01.760> new<00:44:01.920> chain<00:44:02.119> in 00:44:02.270 --> 00:44:02.280 align:start position:0% client would support the new chain in 00:44:02.280 --> 00:44:03.790 align:start position:0% client would support the new chain in some<00:44:02.520> fashion<00:44:02.839> and<00:44:02.960> so<00:44:03.119> that<00:44:03.200> would<00:44:03.359> work<00:44:03.599> for 00:44:03.790 --> 00:44:03.800 align:start position:0% some fashion and so that would work for 00:44:03.800 --> 00:44:06.630 align:start position:0% some fashion and so that would work for ethereum<00:44:04.359> going<00:44:04.559> from<00:44:04.720> 1.0<00:44:05.240> to<00:44:05.359> 1.1<00:44:05.920> and<00:44:06.079> 2.0 00:44:06.630 --> 00:44:06.640 align:start position:0% ethereum going from 1.0 to 1.1 and 2.0 00:44:06.640 --> 00:44:08.829 align:start position:0% ethereum going from 1.0 to 1.1 and 2.0 if<00:44:06.720> we're<00:44:06.880> using<00:44:07.119> sharting<00:44:08.040> yes<00:44:08.440> but<00:44:08.559> if<00:44:08.680> we're 00:44:08.829 --> 00:44:08.839 align:start position:0% if we're using sharting yes but if we're 00:44:08.839 --> 00:44:10.430 align:start position:0% if we're using sharting yes but if we're using<00:44:09.200> multichain<00:44:09.680> in<00:44:10.079> if<00:44:10.160> we're<00:44:10.280> using 00:44:10.430 --> 00:44:10.440 align:start position:0% using multichain in if we're using 00:44:10.440 --> 00:44:12.630 align:start position:0% using multichain in if we're using multi-chain<00:44:10.880> intop<00:44:11.319> then<00:44:11.440> ethereum<00:44:11.880> 1.1<00:44:12.480> will 00:44:12.630 --> 00:44:12.640 align:start position:0% multi-chain intop then ethereum 1.1 will 00:44:12.640 --> 00:44:14.309 align:start position:0% multi-chain intop then ethereum 1.1 will be<00:44:12.839> etherum<00:44:13.280> 2.0<00:44:13.760> the<00:44:13.839> only<00:44:14.040> difference 00:44:14.309 --> 00:44:14.319 align:start position:0% be etherum 2.0 the only difference 00:44:14.319 --> 00:44:15.950 align:start position:0% be etherum 2.0 the only difference between<00:44:14.559> 1<00:44:14.720> one<00:44:14.880> and<00:44:14.960> 2.0<00:44:15.359> will<00:44:15.480> be<00:44:15.599> just<00:44:15.680> a<00:44:15.839> set 00:44:15.950 --> 00:44:15.960 align:start position:0% between 1 one and 2.0 will be just a set 00:44:15.960 --> 00:44:18.270 align:start position:0% between 1 one and 2.0 will be just a set of<00:44:16.079> tools<00:44:16.559> for<00:44:17.160> yeah<00:44:17.319> and<00:44:17.480> also<00:44:17.760> kind<00:44:17.880> of<00:44:18.119> like 00:44:18.270 --> 00:44:18.280 align:start position:0% of tools for yeah and also kind of like 00:44:18.280 --> 00:44:19.870 align:start position:0% of tools for yeah and also kind of like client<00:44:18.599> protocol<00:44:18.960> or<00:44:19.079> full<00:44:19.280> client<00:44:19.520> protocol 00:44:19.870 --> 00:44:19.880 align:start position:0% client protocol or full client protocol 00:44:19.880 --> 00:44:22.510 align:start position:0% client protocol or full client protocol that<00:44:20.160> you<00:44:20.960> uh<00:44:21.280> you<00:44:21.400> know<00:44:21.839> uh<00:44:21.920> Serve<00:44:22.240> All<00:44:22.400> These 00:44:22.510 --> 00:44:22.520 align:start position:0% that you uh you know uh Serve All These 00:44:22.520 --> 00:44:24.430 align:start position:0% that you uh you know uh Serve All These Chains<00:44:22.880> or<00:44:23.440> buy<00:44:23.680> services<00:44:24.040> from<00:44:24.200> all<00:44:24.319> these 00:44:24.430 --> 00:44:24.440 align:start position:0% Chains or buy services from all these 00:44:24.440 --> 00:44:27.109 align:start position:0% Chains or buy services from all these chains<00:44:25.319> so<00:44:25.640> then<00:44:25.880> basically<00:44:26.520> you<00:44:26.640> know<00:44:26.839> that's 00:44:27.109 --> 00:44:27.119 align:start position:0% chains so then basically you know that's 00:44:27.119 --> 00:44:28.510 align:start position:0% chains so then basically you know that's the<00:44:27.240> direction<00:44:27.520> that<00:44:27.640> we're<00:44:27.800> going<00:44:28.119> then 00:44:28.510 --> 00:44:28.520 align:start position:0% the direction that we're going then 00:44:28.520 --> 00:44:31.190 align:start position:0% the direction that we're going then ethereum<00:44:29.000> 2.0<00:44:29.680> is<00:44:29.880> kind<00:44:30.040> of<00:44:30.400> an<00:44:30.640> interface 00:44:31.190 --> 00:44:31.200 align:start position:0% ethereum 2.0 is kind of an interface 00:44:31.200 --> 00:44:33.390 align:start position:0% ethereum 2.0 is kind of an interface layer<00:44:31.520> between<00:44:31.839> all<00:44:32.040> these<00:44:32.280> blockchains<00:44:33.280> kind 00:44:33.390 --> 00:44:33.400 align:start position:0% layer between all these blockchains kind 00:44:33.400 --> 00:44:35.190 align:start position:0% layer between all these blockchains kind of<00:44:33.559> imagine<00:44:33.960> you<00:44:34.079> know<00:44:34.359> if<00:44:34.599> the<00:44:34.720> if<00:44:34.839> the<00:44:34.960> Miss 00:44:35.190 --> 00:44:35.200 align:start position:0% of imagine you know if the if the Miss 00:44:35.200 --> 00:44:37.710 align:start position:0% of imagine you know if the if the Miss browser<00:44:35.559> let<00:44:35.720> you<00:44:36.200> buy<00:44:36.520> services<00:44:37.000> from<00:44:37.559> a 00:44:37.710 --> 00:44:37.720 align:start position:0% browser let you buy services from a 00:44:37.720 --> 00:44:40.109 align:start position:0% browser let you buy services from a whole<00:44:38.000> host<00:44:38.240> of<00:44:38.480> chains<00:44:39.480> uh<00:44:39.680> where<00:44:39.880> most<00:44:40.000> of 00:44:40.109 --> 00:44:40.119 align:start position:0% whole host of chains uh where most of 00:44:40.119 --> 00:44:41.349 align:start position:0% whole host of chains uh where most of those<00:44:40.240> chains<00:44:40.480> are<00:44:40.599> actually<00:44:40.839> application 00:44:41.349 --> 00:44:41.359 align:start position:0% those chains are actually application 00:44:41.359 --> 00:44:44.270 align:start position:0% those chains are actually application specific<00:44:42.240> as<00:44:42.359> in<00:44:42.520> you<00:44:42.599> know<00:44:42.760> specific<00:44:43.200> sum<00:44:43.520> out 00:44:44.270 --> 00:44:44.280 align:start position:0% specific as in you know specific sum out 00:44:44.280 --> 00:44:46.309 align:start position:0% specific as in you know specific sum out um<00:44:44.880> rather<00:44:45.160> than<00:44:45.640> being<00:44:45.920> this<00:44:46.079> kind<00:44:46.200> of 00:44:46.309 --> 00:44:46.319 align:start position:0% um rather than being this kind of 00:44:46.319 --> 00:44:49.069 align:start position:0% um rather than being this kind of general<00:44:46.680> purpose<00:44:47.400> where<00:44:47.520> you<00:44:47.880> kind<00:44:47.960> of<00:44:48.160> put 00:44:49.069 --> 00:44:49.079 align:start position:0% general purpose where you kind of put 00:44:49.079 --> 00:44:50.990 align:start position:0% general purpose where you kind of put everything 00:44:50.990 --> 00:44:51.000 align:start position:0% everything 00:44:51.000 --> 00:44:55.670 align:start position:0% everything yes<00:44:52.000> um<00:44:52.440> is<00:44:52.760> the<00:44:53.160> uh<00:44:53.920> chain<00:44:54.240> sharting<00:44:55.040> and<00:44:55.359> the 00:44:55.670 --> 00:44:55.680 align:start position:0% yes um is the uh chain sharting and the 00:44:55.680 --> 00:44:58.430 align:start position:0% yes um is the uh chain sharting and the atomic 00:44:58.430 --> 00:44:58.440 align:start position:0% atomic 00:44:58.440 --> 00:45:02.510 align:start position:0% atomic um<00:44:59.440> is<00:44:59.599> that<00:44:59.880> Atomic<00:45:00.280> multi-<00:45:00.680> chain<00:45:01.359> um<00:45:02.240> are 00:45:02.510 --> 00:45:02.520 align:start position:0% um is that Atomic multi- chain um are 00:45:02.520 --> 00:45:05.710 align:start position:0% um is that Atomic multi- chain um are are<00:45:02.760> those<00:45:03.079> are<00:45:03.280> those<00:45:03.720> two<00:45:04.720> um<00:45:05.240> they're<00:45:05.520> sort 00:45:05.710 --> 00:45:05.720 align:start position:0% are those are those two um they're sort 00:45:05.720 --> 00:45:08.589 align:start position:0% are those are those two um they're sort of<00:45:05.920> competing<00:45:06.400> approaches<00:45:07.079> I<00:45:07.160> would<00:45:07.359> say<00:45:08.040> can 00:45:08.589 --> 00:45:08.599 align:start position:0% of competing approaches I would say can 00:45:08.599 --> 00:45:11.510 align:start position:0% of competing approaches I would say can can<00:45:08.800> you<00:45:09.559> could<00:45:09.720> you<00:45:09.920> have<00:45:10.280> both<00:45:11.160> yes<00:45:11.319> you 00:45:11.510 --> 00:45:11.520 align:start position:0% can you could you have both yes you 00:45:11.520 --> 00:45:14.230 align:start position:0% can you could you have both yes you could<00:45:12.160> could<00:45:12.319> you<00:45:12.520> have<00:45:12.680> the 00:45:14.230 --> 00:45:14.240 align:start position:0% could could you have the 00:45:14.240 --> 00:45:18.710 align:start position:0% could could you have the sh<00:45:15.240> sharded<00:45:15.760> chain<00:45:16.520> and<00:45:16.760> then<00:45:16.960> use<00:45:17.280> this<00:45:17.720> for 00:45:18.710 --> 00:45:18.720 align:start position:0% sh sharded chain and then use this for 00:45:18.720 --> 00:45:21.190 align:start position:0% sh sharded chain and then use this for yeah<00:45:19.440> a<00:45:19.920> as<00:45:20.040> an<00:45:20.160> interupt<00:45:20.599> thing<00:45:20.800> yes<00:45:20.920> you 00:45:21.190 --> 00:45:21.200 align:start position:0% yeah a as an interupt thing yes you 00:45:21.200 --> 00:45:23.549 align:start position:0% yeah a as an interupt thing yes you could<00:45:22.040> okay 00:45:23.549 --> 00:45:23.559 align:start position:0% could okay 00:45:23.559 --> 00:45:27.549 align:start position:0% could okay yeah<00:45:24.559> um<00:45:25.440> yeah<00:45:26.079> and<00:45:26.200> I<00:45:26.280> think<00:45:26.400> that<00:45:26.559> that<00:45:27.400> well 00:45:27.549 --> 00:45:27.559 align:start position:0% yeah um yeah and I think that that well 00:45:27.559 --> 00:45:31.349 align:start position:0% yeah um yeah and I think that that well would<00:45:27.680> be<00:45:27.800> a<00:45:27.920> good<00:45:28.079> idea<00:45:28.960> because<00:45:29.920> uh<00:45:30.599> if 00:45:31.349 --> 00:45:31.359 align:start position:0% would be a good idea because uh if 00:45:31.359 --> 00:45:33.270 align:start position:0% would be a good idea because uh if clients<00:45:31.720> are<00:45:32.000> going<00:45:32.119> to<00:45:32.240> want<00:45:32.359> to<00:45:32.520> keep<00:45:32.760> their 00:45:33.270 --> 00:45:33.280 align:start position:0% clients are going to want to keep their 00:45:33.280 --> 00:45:35.670 align:start position:0% clients are going to want to keep their digital<00:45:33.640> Assets<00:45:33.920> in<00:45:34.079> some<00:45:34.400> stable<00:45:35.079> token<00:45:35.520> then 00:45:35.670 --> 00:45:35.680 align:start position:0% digital Assets in some stable token then 00:45:35.680 --> 00:45:38.069 align:start position:0% digital Assets in some stable token then we're<00:45:35.920> probably<00:45:36.119> going<00:45:36.240> to<00:45:36.680> want<00:45:37.680> uh<00:45:37.800> them<00:45:37.920> to 00:45:38.069 --> 00:45:38.079 align:start position:0% we're probably going to want uh them to 00:45:38.079 --> 00:45:39.950 align:start position:0% we're probably going to want uh them to be<00:45:38.160> able<00:45:38.680> do<00:45:38.839> a<00:45:38.920> lot<00:45:39.040> of<00:45:39.160> transactions<00:45:39.720> on<00:45:39.839> the 00:45:39.950 --> 00:45:39.960 align:start position:0% be able do a lot of transactions on the 00:45:39.960 --> 00:45:43.630 align:start position:0% be able do a lot of transactions on the Chain<00:45:40.200> where<00:45:40.359> they<00:45:40.880> hold<00:45:41.200> their<00:45:41.440> tokens<00:45:42.640> right 00:45:43.630 --> 00:45:43.640 align:start position:0% Chain where they hold their tokens right 00:45:43.640 --> 00:45:45.069 align:start position:0% Chain where they hold their tokens right if<00:45:43.760> we<00:45:43.920> want<00:45:44.160> if<00:45:44.200> you<00:45:44.319> want<00:45:44.440> to<00:45:44.559> have<00:45:44.680> a<00:45:44.960> a 00:45:45.069 --> 00:45:45.079 align:start position:0% if we want if you want to have a a 00:45:45.079 --> 00:45:46.710 align:start position:0% if we want if you want to have a a stable<00:45:45.400> currency<00:45:45.800> across<00:45:46.040> the<00:45:46.160> entire<00:45:46.440> system 00:45:46.710 --> 00:45:46.720 align:start position:0% stable currency across the entire system 00:45:46.720 --> 00:45:47.790 align:start position:0% stable currency across the entire system the<00:45:46.800> other<00:45:47.000> approach<00:45:47.319> is<00:45:47.480> that<00:45:47.559> we<00:45:47.640> don't 00:45:47.790 --> 00:45:47.800 align:start position:0% the other approach is that we don't 00:45:47.800 --> 00:45:48.950 align:start position:0% the other approach is that we don't necessarily<00:45:48.160> need<00:45:48.319> the<00:45:48.440> units<00:45:48.720> to<00:45:48.800> be 00:45:48.950 --> 00:45:48.960 align:start position:0% necessarily need the units to be 00:45:48.960 --> 00:45:51.030 align:start position:0% necessarily need the units to be actually<00:45:49.200> be<00:45:49.319> transferable<00:45:49.960> we<00:45:50.119> just<00:45:50.280> need<00:45:50.880> a 00:45:51.030 --> 00:45:51.040 align:start position:0% actually be transferable we just need a 00:45:51.040 --> 00:45:52.390 align:start position:0% actually be transferable we just need a whole<00:45:51.160> bunch<00:45:51.359> of<00:45:51.599> a<00:45:51.680> whole<00:45:51.800> bunch<00:45:51.960> of<00:45:52.040> stable 00:45:52.390 --> 00:45:52.400 align:start position:0% whole bunch of a whole bunch of stable 00:45:52.400 --> 00:45:54.430 align:start position:0% whole bunch of a whole bunch of stable coins<00:45:52.720> and<00:45:52.880> we<00:45:53.000> need<00:45:53.119> to<00:45:53.319> keep<00:45:54.119> make<00:45:54.280> the 00:45:54.430 --> 00:45:54.440 align:start position:0% coins and we need to keep make the 00:45:54.440 --> 00:45:55.950 align:start position:0% coins and we need to keep make the stable<00:45:54.760> coins<00:45:55.040> all<00:45:55.240> target<00:45:55.599> the<00:45:55.720> same 00:45:55.950 --> 00:45:55.960 align:start position:0% stable coins all target the same 00:45:55.960 --> 00:45:57.309 align:start position:0% stable coins all target the same standard<00:45:56.359> and<00:45:56.480> then<00:45:56.599> they'll<00:45:56.800> just<00:45:57.079> be<00:45:57.160> an 00:45:57.309 --> 00:45:57.319 align:start position:0% standard and then they'll just be an 00:45:57.319 --> 00:45:59.069 align:start position:0% standard and then they'll just be an exchange<00:45:58.000> it'll<00:45:58.240> be<00:45:58.319> a<00:45:58.400> floating<00:45:58.760> exchange 00:45:59.069 --> 00:45:59.079 align:start position:0% exchange it'll be a floating exchange 00:45:59.079 --> 00:46:00.470 align:start position:0% exchange it'll be a floating exchange rate<00:45:59.280> but<00:45:59.400> the<00:45:59.599> floating<00:45:59.880> exchange<00:46:00.200> rate<00:46:00.319> will 00:46:00.470 --> 00:46:00.480 align:start position:0% rate but the floating exchange rate will 00:46:00.480 --> 00:46:02.069 align:start position:0% rate but the floating exchange rate will just<00:46:00.640> always<00:46:00.880> happen<00:46:01.079> to<00:46:01.200> be 00:46:02.069 --> 00:46:02.079 align:start position:0% just always happen to be 00:46:02.079 --> 00:46:04.750 align:start position:0% just always happen to be one<00:46:03.079> but<00:46:03.280> then<00:46:03.480> like<00:46:03.599> some<00:46:04.000> we<00:46:04.200> kind<00:46:04.280> of<00:46:04.480> have 00:46:04.750 --> 00:46:04.760 align:start position:0% one but then like some we kind of have 00:46:04.760 --> 00:46:07.710 align:start position:0% one but then like some we kind of have have<00:46:04.960> any<00:46:05.119> more<00:46:05.240> stable<00:46:05.559> than<00:46:05.760> those<00:46:06.640> yeah<00:46:07.640> and 00:46:07.710 --> 00:46:07.720 align:start position:0% have any more stable than those yeah and 00:46:07.720 --> 00:46:08.910 align:start position:0% have any more stable than those yeah and so<00:46:07.920> people<00:46:08.079> will<00:46:08.200> tend<00:46:08.359> to<00:46:08.440> keep<00:46:08.599> their<00:46:08.720> money 00:46:08.910 --> 00:46:08.920 align:start position:0% so people will tend to keep their money 00:46:08.920 --> 00:46:11.790 align:start position:0% so people will tend to keep their money on<00:46:09.160> those<00:46:10.040> right<00:46:10.280> true<00:46:11.040> yeah<00:46:11.400> because<00:46:11.559> most 00:46:11.790 --> 00:46:11.800 align:start position:0% on those right true yeah because most 00:46:11.800 --> 00:46:13.549 align:start position:0% on those right true yeah because most like<00:46:12.000> clients<00:46:12.319> don't<00:46:12.480> want<00:46:12.640> to<00:46:12.760> be<00:46:12.960> exposed<00:46:13.359> to 00:46:13.549 --> 00:46:13.559 align:start position:0% like clients don't want to be exposed to 00:46:13.559 --> 00:46:15.510 align:start position:0% like clients don't want to be exposed to speculating<00:46:14.000> on<00:46:14.160> the<00:46:14.640> success<00:46:14.920> of<00:46:15.040> some<00:46:15.280> do 00:46:15.510 --> 00:46:15.520 align:start position:0% speculating on the success of some do 00:46:15.520 --> 00:46:17.829 align:start position:0% speculating on the success of some do they<00:46:15.640> just<00:46:15.720> want<00:46:15.839> to<00:46:15.920> be<00:46:16.079> using<00:46:16.400> it<00:46:17.200> uh<00:46:17.520> and<00:46:17.599> so 00:46:17.829 --> 00:46:17.839 align:start position:0% they just want to be using it uh and so 00:46:17.839 --> 00:46:20.549 align:start position:0% they just want to be using it uh and so they<00:46:18.040> can<00:46:19.040> another<00:46:19.280> nice<00:46:19.440> thing<00:46:19.559> about<00:46:19.800> EIC 00:46:20.549 --> 00:46:20.559 align:start position:0% they can another nice thing about EIC 00:46:20.559 --> 00:46:21.870 align:start position:0% they can another nice thing about EIC that<00:46:20.640> we<00:46:20.720> have<00:46:21.160> mention<00:46:21.400> is<00:46:21.520> that<00:46:21.640> you<00:46:21.720> could 00:46:21.870 --> 00:46:21.880 align:start position:0% that we have mention is that you could 00:46:21.880 --> 00:46:24.270 align:start position:0% that we have mention is that you could pay<00:46:22.040> for<00:46:22.160> a<00:46:22.319> contract<00:46:22.680> call<00:46:23.040> or<00:46:24.040> some 00:46:24.270 --> 00:46:24.280 align:start position:0% pay for a contract call or some 00:46:24.280 --> 00:46:25.589 align:start position:0% pay for a contract call or some functionality<00:46:24.720> on<00:46:24.839> another<00:46:25.079> chain<00:46:25.319> using 00:46:25.589 --> 00:46:25.599 align:start position:0% functionality on another chain using 00:46:25.599 --> 00:46:28.030 align:start position:0% functionality on another chain using fees<00:46:25.800> on<00:46:25.960> one<00:46:26.160> chain<00:46:26.920> so<00:46:27.040> basically<00:46:27.359> you<00:46:27.480> know 00:46:28.030 --> 00:46:28.040 align:start position:0% fees on one chain so basically you know 00:46:28.040 --> 00:46:29.190 align:start position:0% fees on one chain so basically you know someone<00:46:28.359> would<00:46:28.480> see<00:46:28.640> that<00:46:28.720> you<00:46:28.800> want<00:46:28.880> to<00:46:29.000> call 00:46:29.190 --> 00:46:29.200 align:start position:0% someone would see that you want to call 00:46:29.200 --> 00:46:30.549 align:start position:0% someone would see that you want to call some<00:46:29.440> contract<00:46:29.760> and<00:46:29.880> they'd<00:46:30.040> be<00:46:30.200> like<00:46:30.359> yeah 00:46:30.549 --> 00:46:30.559 align:start position:0% some contract and they'd be like yeah 00:46:30.559 --> 00:46:32.190 align:start position:0% some contract and they'd be like yeah okay<00:46:30.720> I<00:46:30.839> want<00:46:31.280> tokens<00:46:31.640> on<00:46:31.760> the<00:46:31.880> chain<00:46:32.119> that 00:46:32.190 --> 00:46:32.200 align:start position:0% okay I want tokens on the chain that 00:46:32.200 --> 00:46:34.190 align:start position:0% okay I want tokens on the chain that you're<00:46:32.400> paying<00:46:32.640> me<00:46:32.800> on<00:46:33.559> and<00:46:33.640> then<00:46:33.800> they'<00:46:33.960> draun 00:46:34.190 --> 00:46:34.200 align:start position:0% you're paying me on and then they' draun 00:46:34.200 --> 00:46:35.349 align:start position:0% you're paying me on and then they' draun the<00:46:34.280> contract<00:46:34.599> for<00:46:34.720> you<00:46:34.800> and<00:46:34.960> exchange<00:46:35.200> for 00:46:35.349 --> 00:46:35.359 align:start position:0% the contract for you and exchange for 00:46:35.359 --> 00:46:37.109 align:start position:0% the contract for you and exchange for those 00:46:37.109 --> 00:46:37.119 align:start position:0% those 00:46:37.119 --> 00:46:40.230 align:start position:0% those tokens<00:46:38.119> so<00:46:38.400> you<00:46:38.640> might<00:46:38.800> not<00:46:39.000> actually<00:46:39.200> need<00:46:39.359> to 00:46:40.230 --> 00:46:40.240 align:start position:0% tokens so you might not actually need to 00:46:40.240 --> 00:46:42.790 align:start position:0% tokens so you might not actually need to change<00:46:40.720> to<00:46:40.920> buy<00:46:41.119> tokens<00:46:41.480> on<00:46:41.720> some<00:46:42.160> daps<00:46:42.480> chain 00:46:42.790 --> 00:46:42.800 align:start position:0% change to buy tokens on some daps chain 00:46:42.800 --> 00:46:44.390 align:start position:0% change to buy tokens on some daps chain or<00:46:42.960> if<00:46:43.040> you<00:46:43.079> use<00:46:43.240> the<00:46:43.400> D<00:46:43.599> you<00:46:43.720> could<00:46:43.920> just<00:46:44.240> pay 00:46:44.390 --> 00:46:44.400 align:start position:0% or if you use the D you could just pay 00:46:44.400 --> 00:46:45.990 align:start position:0% or if you use the D you could just pay for<00:46:44.559> it<00:46:44.680> on<00:46:44.800> your<00:46:44.960> chain<00:46:45.280> and<00:46:45.680> have<00:46:45.839> the 00:46:45.990 --> 00:46:46.000 align:start position:0% for it on your chain and have the 00:46:46.000 --> 00:46:48.349 align:start position:0% for it on your chain and have the contract<00:46:46.359> happen<00:46:46.559> on<00:46:46.640> the<00:46:46.800> da<00:46:47.119> chain<00:46:48.119> which<00:46:48.200> is 00:46:48.349 --> 00:46:48.359 align:start position:0% contract happen on the da chain which is 00:46:48.359 --> 00:46:49.630 align:start position:0% contract happen on the da chain which is kind<00:46:48.440> of 00:46:49.630 --> 00:46:49.640 align:start position:0% kind of 00:46:49.640 --> 00:46:53.630 align:start position:0% kind of neat<00:46:50.640> can<00:46:50.960> people<00:46:51.520> running<00:46:52.400> CH<00:46:53.079> provid<00:46:53.400> that 00:46:53.630 --> 00:46:53.640 align:start position:0% neat can people running CH provid that 00:46:53.640 --> 00:46:57.750 align:start position:0% neat can people running CH provid that service<00:46:54.079> for<00:46:54.480> you<00:46:55.480> basic 00:46:57.750 --> 00:46:57.760 align:start position:0% service for you basic 00:46:57.760 --> 00:46:59.069 align:start position:0% service for you basic they<00:46:57.880> would<00:46:58.040> have<00:46:58.160> to<00:46:58.319> interact<00:46:58.720> on<00:46:58.880> your 00:46:59.069 --> 00:46:59.079 align:start position:0% they would have to interact on your 00:46:59.079 --> 00:47:01.790 align:start position:0% they would have to interact on your chain<00:46:59.400> as<00:47:00.400> um<00:47:00.599> they<00:47:00.680> would<00:47:00.800> just<00:47:00.960> have<00:47:01.079> to<00:47:01.640> the 00:47:01.790 --> 00:47:01.800 align:start position:0% chain as um they would just have to the 00:47:01.800 --> 00:47:03.349 align:start position:0% chain as um they would just have to the clients<00:47:02.079> would<00:47:02.280> have<00:47:02.359> to<00:47:02.520> watch<00:47:02.720> it<00:47:03.040> the 00:47:03.349 --> 00:47:03.359 align:start position:0% clients would have to watch it the 00:47:03.359 --> 00:47:06.069 align:start position:0% clients would have to watch it the consensus<00:47:03.880> wouldn't<00:47:04.280> necessar<00:47:05.240> so<00:47:05.760> only<00:47:06.000> the 00:47:06.069 --> 00:47:06.079 align:start position:0% consensus wouldn't necessar so only the 00:47:06.079 --> 00:47:07.390 align:start position:0% consensus wouldn't necessar so only the clients<00:47:06.359> that<00:47:06.480> are<00:47:06.640> providing<00:47:06.960> that<00:47:07.119> service 00:47:07.390 --> 00:47:07.400 align:start position:0% clients that are providing that service 00:47:07.400 --> 00:47:09.390 align:start position:0% clients that are providing that service would<00:47:07.520> have<00:47:07.599> to<00:47:07.720> watch<00:47:07.920> it<00:47:08.880> basically<00:47:09.200> because 00:47:09.390 --> 00:47:09.400 align:start position:0% would have to watch it basically because 00:47:09.400 --> 00:47:11.630 align:start position:0% would have to watch it basically because they<00:47:09.559> have<00:47:09.640> to<00:47:09.920> like<00:47:10.359> get<00:47:10.559> the<00:47:10.720> hash<00:47:11.400> value 00:47:11.630 --> 00:47:11.640 align:start position:0% they have to like get the hash value 00:47:11.640 --> 00:47:14.069 align:start position:0% they have to like get the hash value when<00:47:11.760> they<00:47:11.920> provide<00:47:12.480> it<00:47:13.480> but<00:47:13.640> they<00:47:13.800> have<00:47:13.920> to 00:47:14.069 --> 00:47:14.079 align:start position:0% when they provide it but they have to 00:47:14.079 --> 00:47:17.510 align:start position:0% when they provide it but they have to want<00:47:14.359> your<00:47:15.160> your<00:47:16.160> your<00:47:16.440> change<00:47:16.839> currency 00:47:17.510 --> 00:47:17.520 align:start position:0% want your your your change currency 00:47:17.520 --> 00:47:20.190 align:start position:0% want your your your change currency that's<00:47:17.760> right 00:47:20.190 --> 00:47:20.200 align:start position:0% 00:47:20.200 --> 00:47:22.670 align:start position:0% yeah<00:47:21.200> or<00:47:21.319> you<00:47:21.440> can<00:47:21.640> even<00:47:21.880> do<00:47:22.119> something<00:47:22.400> more 00:47:22.670 --> 00:47:22.680 align:start position:0% yeah or you can even do something more 00:47:22.680 --> 00:47:26.270 align:start position:0% yeah or you can even do something more primitive<00:47:23.440> uh<00:47:23.559> for<00:47:23.800> example<00:47:24.559> if<00:47:24.960> you<00:47:25.960> you<00:47:26.160> you 00:47:26.270 --> 00:47:26.280 align:start position:0% primitive uh for example if you you you 00:47:26.280 --> 00:47:29.349 align:start position:0% primitive uh for example if you you you you<00:47:26.400> form<00:47:26.680> a<00:47:26.920> special<00:47:27.680> contract<00:47:28.680> where<00:47:29.200> as 00:47:29.349 --> 00:47:29.359 align:start position:0% you form a special contract where as 00:47:29.359 --> 00:47:32.190 align:start position:0% you form a special contract where as soon<00:47:29.680> as<00:47:30.440> uh<00:47:30.680> it<00:47:30.880> gets<00:47:31.200> deposited<00:47:31.760> the<00:47:31.960> right 00:47:32.190 --> 00:47:32.200 align:start position:0% soon as uh it gets deposited the right 00:47:32.200 --> 00:47:35.430 align:start position:0% soon as uh it gets deposited the right amount<00:47:32.680> then<00:47:32.880> a<00:47:33.040> new<00:47:33.240> chain<00:47:33.559> is<00:47:34.240> started<00:47:35.240> uh 00:47:35.430 --> 00:47:35.440 align:start position:0% amount then a new chain is started uh 00:47:35.440 --> 00:47:38.069 align:start position:0% amount then a new chain is started uh where<00:47:35.920> you<00:47:36.040> know<00:47:36.800> there's<00:47:37.040> no<00:47:37.240> mining<00:47:37.880> you're 00:47:38.069 --> 00:47:38.079 align:start position:0% where you know there's no mining you're 00:47:38.079 --> 00:47:42.549 align:start position:0% where you know there's no mining you're you're<00:47:38.280> just<00:47:38.480> using<00:47:39.440> the<00:47:40.440> the<00:47:41.240> deposit<00:47:42.240> and 00:47:42.549 --> 00:47:42.559 align:start position:0% you're just using the the deposit and 00:47:42.559 --> 00:47:44.589 align:start position:0% you're just using the the deposit and you<00:47:42.680> can<00:47:42.960> only<00:47:43.240> unlock<00:47:43.720> that<00:47:43.920> contract<00:47:44.319> in<00:47:44.480> the 00:47:44.589 --> 00:47:44.599 align:start position:0% you can only unlock that contract in the 00:47:44.599 --> 00:47:46.349 align:start position:0% you can only unlock that contract in the original<00:47:45.079> chain<00:47:45.359> if<00:47:45.520> all<00:47:45.680> the<00:47:45.800> tokens<00:47:46.160> are 00:47:46.349 --> 00:47:46.359 align:start position:0% original chain if all the tokens are 00:47:46.359 --> 00:47:48.470 align:start position:0% original chain if all the tokens are destroyed<00:47:46.839> in<00:47:47.000> the<00:47:47.240> in<00:47:47.359> the<00:47:47.480> first<00:47:47.760> chain<00:47:48.319> in 00:47:48.470 --> 00:47:48.480 align:start position:0% destroyed in the in the first chain in 00:47:48.480 --> 00:47:51.109 align:start position:0% destroyed in the in the first chain in the<00:47:48.800> small<00:47:49.359> chain<00:47:50.359> and<00:47:50.520> how<00:47:50.640> would<00:47:50.760> that<00:47:50.880> other 00:47:51.109 --> 00:47:51.119 align:start position:0% the small chain and how would that other 00:47:51.119 --> 00:47:54.230 align:start position:0% the small chain and how would that other CH<00:47:51.400> know<00:47:52.400> that<00:47:53.160> well<00:47:53.359> there's<00:47:53.520> a<00:47:53.720> proof<00:47:54.079> that 00:47:54.230 --> 00:47:54.240 align:start position:0% CH know that well there's a proof that 00:47:54.240 --> 00:47:57.990 align:start position:0% CH know that well there's a proof that you<00:47:54.400> can 00:47:57.990 --> 00:47:58.000 align:start position:0% 00:47:58.000 --> 00:47:58.870 align:start position:0% and<00:47:58.119> then<00:47:58.240> it<00:47:58.440> have<00:47:58.520> to<00:47:58.640> wait<00:47:58.760> for 00:47:58.870 --> 00:47:58.880 align:start position:0% and then it have to wait for 00:47:58.880 --> 00:48:06.349 align:start position:0% and then it have to wait for confirmations<00:47:59.800> have<00:48:00.000> not<00:48:01.200> it<00:48:02.200> which<00:48:02.319> is 00:48:06.349 --> 00:48:06.359 align:start position:0% 00:48:06.359 --> 00:48:08.510 align:start position:0% okay<00:48:07.359> so<00:48:07.520> I'm<00:48:07.599> not<00:48:07.720> sure<00:48:07.920> that's<00:48:08.079> necessarily 00:48:08.510 --> 00:48:08.520 align:start position:0% okay so I'm not sure that's necessarily 00:48:08.520 --> 00:48:10.910 align:start position:0% okay so I'm not sure that's necessarily more<00:48:09.200> primitive<00:48:10.200> this<00:48:10.400> seems<00:48:10.599> a<00:48:10.680> little<00:48:10.800> bit 00:48:10.910 --> 00:48:10.920 align:start position:0% more primitive this seems a little bit 00:48:10.920 --> 00:48:14.589 align:start position:0% more primitive this seems a little bit more 00:48:14.589 --> 00:48:14.599 align:start position:0% 00:48:14.599 --> 00:48:20.990 align:start position:0% sophisticated<00:48:15.599> well<00:48:15.800> it<00:48:15.920> doesn't<00:48:16.200> require<00:48:16.480> an 00:48:20.990 --> 00:48:21.000 align:start position:0% 00:48:21.000 --> 00:48:23.349 align:start position:0% exchange<00:48:22.000> this<00:48:22.160> kind<00:48:22.280> of<00:48:22.480> approach<00:48:22.760> is<00:48:23.000> nice 00:48:23.349 --> 00:48:23.359 align:start position:0% exchange this kind of approach is nice 00:48:23.359 --> 00:48:25.390 align:start position:0% exchange this kind of approach is nice because<00:48:23.599> it's<00:48:24.200> it's<00:48:24.400> also<00:48:24.720> a<00:48:24.880> way<00:48:25.000> of<00:48:25.119> doing 00:48:25.390 --> 00:48:25.400 align:start position:0% because it's it's also a way of doing 00:48:25.400 --> 00:48:27.510 align:start position:0% because it's it's also a way of doing cross<00:48:25.680> chain<00:48:25.960> exchange<00:48:26.440> without<00:48:26.880> ever<00:48:27.119> having 00:48:27.510 --> 00:48:27.520 align:start position:0% cross chain exchange without ever having 00:48:27.520 --> 00:48:30.109 align:start position:0% cross chain exchange without ever having actual<00:48:28.520> basic<00:48:28.880> without<00:48:29.200> ever<00:48:29.480> actually<00:48:29.800> like 00:48:30.109 --> 00:48:30.119 align:start position:0% actual basic without ever actually like 00:48:30.119 --> 00:48:32.430 align:start position:0% actual basic without ever actually like having<00:48:31.000> an<00:48:31.200> exchange<00:48:31.599> of<00:48:31.800> different<00:48:32.079> tokens 00:48:32.430 --> 00:48:32.440 align:start position:0% having an exchange of different tokens 00:48:32.440 --> 00:48:33.750 align:start position:0% having an exchange of different tokens that<00:48:32.599> are<00:48:32.760> that's<00:48:32.920> across<00:48:33.280> different<00:48:33.440> chains 00:48:33.750 --> 00:48:33.760 align:start position:0% that are that's across different chains 00:48:33.760 --> 00:48:35.750 align:start position:0% that are that's across different chains at<00:48:33.880> the<00:48:34.000> same<00:48:34.280> time<00:48:35.000> is<00:48:35.160> you<00:48:35.280> can<00:48:35.480> expect 00:48:35.750 --> 00:48:35.760 align:start position:0% at the same time is you can expect 00:48:35.760 --> 00:48:37.750 align:start position:0% at the same time is you can expect onchain<00:48:36.240> exchange<00:48:36.640> to<00:48:36.760> be<00:48:36.960> very<00:48:37.240> efficient 00:48:37.750 --> 00:48:37.760 align:start position:0% onchain exchange to be very efficient 00:48:37.760 --> 00:48:39.710 align:start position:0% onchain exchange to be very efficient but<00:48:37.920> then<00:48:38.319> interchain<00:48:38.960> interchange<00:48:39.520> stuff 00:48:39.710 --> 00:48:39.720 align:start position:0% but then interchain interchange stuff 00:48:39.720 --> 00:48:41.150 align:start position:0% but then interchain interchange stuff will<00:48:39.880> probably<00:48:40.160> have<00:48:40.319> higher<00:48:40.520> fees<00:48:40.839> but<00:48:41.000> here 00:48:41.150 --> 00:48:41.160 align:start position:0% will probably have higher fees but here 00:48:41.160 --> 00:48:42.510 align:start position:0% will probably have higher fees but here it's<00:48:41.319> between<00:48:41.640> the<00:48:41.720> same<00:48:41.920> currency<00:48:42.240> and<00:48:42.400> here 00:48:42.510 --> 00:48:42.520 align:start position:0% it's between the same currency and here 00:48:42.520 --> 00:48:44.790 align:start position:0% it's between the same currency and here it's<00:48:42.640> the<00:48:42.760> same<00:48:42.960> currency<00:48:43.520> so<00:48:44.400> because<00:48:44.640> the 00:48:44.790 --> 00:48:44.800 align:start position:0% it's the same currency so because the 00:48:44.800 --> 00:48:46.950 align:start position:0% it's the same currency so because the rate<00:48:44.960> will<00:48:45.119> always<00:48:45.359> be<00:48:45.520> like<00:48:45.800> one<00:48:46.599> the<00:48:46.720> spread 00:48:46.950 --> 00:48:46.960 align:start position:0% rate will always be like one the spread 00:48:46.960 --> 00:48:48.750 align:start position:0% rate will always be like one the spread will<00:48:47.119> probably<00:48:47.359> be<00:48:47.559> very 00:48:48.750 --> 00:48:48.760 align:start position:0% will probably be very 00:48:48.760 --> 00:48:51.190 align:start position:0% will probably be very low<00:48:49.760> soorry<00:48:50.040> you<00:48:50.119> said<00:48:50.440> the<00:48:50.559> same<00:48:50.799> same 00:48:51.190 --> 00:48:51.200 align:start position:0% low soorry you said the same same 00:48:51.200 --> 00:48:53.430 align:start position:0% low soorry you said the same same currency<00:48:52.200> well<00:48:52.359> no<00:48:52.520> so<00:48:52.680> I'm<00:48:52.799> saying<00:48:53.040> you<00:48:53.200> have 00:48:53.430 --> 00:48:53.440 align:start position:0% currency well no so I'm saying you have 00:48:53.440 --> 00:48:56.109 align:start position:0% currency well no so I'm saying you have a<00:48:53.760> here<00:48:54.520> you<00:48:54.680> have<00:48:54.920> B<00:48:55.280> here<00:48:55.760> right<00:48:55.880> and<00:48:56.040> you 00:48:56.109 --> 00:48:56.119 align:start position:0% a here you have B here right and you 00:48:56.119 --> 00:48:57.230 align:start position:0% a here you have B here right and you have<00:48:56.280> a<00:48:56.440> here 00:48:57.230 --> 00:48:57.240 align:start position:0% have a here 00:48:57.240 --> 00:48:58.870 align:start position:0% have a here here<00:48:57.720> exchange<00:48:58.119> between<00:48:58.400> these<00:48:58.520> two<00:48:58.680> is<00:48:58.799> just 00:48:58.870 --> 00:48:58.880 align:start position:0% here exchange between these two is just 00:48:58.880 --> 00:49:00.910 align:start position:0% here exchange between these two is just onchain<00:48:59.359> so<00:48:59.440> it's<00:48:59.640> very<00:48:59.880> efficient<00:49:00.599> here<00:49:00.760> the 00:49:00.910 --> 00:49:00.920 align:start position:0% onchain so it's very efficient here the 00:49:00.920 --> 00:49:02.829 align:start position:0% onchain so it's very efficient here the exchange<00:49:01.240> rate<00:49:01.400> is<00:49:01.559> always<00:49:01.839> one<00:49:02.119> so<00:49:02.359> there's 00:49:02.829 --> 00:49:02.839 align:start position:0% exchange rate is always one so there's 00:49:02.839 --> 00:49:04.230 align:start position:0% exchange rate is always one so there's there's<00:49:03.000> an<00:49:03.119> opportunity<00:49:03.520> for<00:49:03.680> like<00:49:03.799> varable 00:49:04.230 --> 00:49:04.240 align:start position:0% there's an opportunity for like varable 00:49:04.240 --> 00:49:06.990 align:start position:0% there's an opportunity for like varable Risk<00:49:04.400> garbage<00:49:04.760> charion<00:49:05.040> same 00:49:06.990 --> 00:49:07.000 align:start position:0% Risk garbage charion same 00:49:07.000 --> 00:49:09.150 align:start position:0% Risk garbage charion same here<00:49:08.000> another<00:49:08.280> thing<00:49:08.440> you<00:49:08.559> can<00:49:08.680> do<00:49:08.880> though<00:49:09.000> is 00:49:09.150 --> 00:49:09.160 align:start position:0% here another thing you can do though is 00:49:09.160 --> 00:49:11.549 align:start position:0% here another thing you can do though is just<00:49:09.280> do<00:49:09.680> have<00:49:09.839> security<00:49:10.240> pro<00:49:10.559> and<00:49:10.680> maing<00:49:11.119> here 00:49:11.549 --> 00:49:11.559 align:start position:0% just do have security pro and maing here 00:49:11.559 --> 00:49:12.829 align:start position:0% just do have security pro and maing here and<00:49:11.720> basically<00:49:12.040> require<00:49:12.359> people<00:49:12.520> to<00:49:12.640> be 00:49:12.829 --> 00:49:12.839 align:start position:0% and basically require people to be 00:49:12.839 --> 00:49:14.829 align:start position:0% and basically require people to be online<00:49:13.160> when<00:49:13.280> they<00:49:13.400> do<00:49:13.520> the<00:49:13.680> exchange<00:49:14.520> so<00:49:14.720> you 00:49:14.829 --> 00:49:14.839 align:start position:0% online when they do the exchange so you 00:49:14.839 --> 00:49:16.750 align:start position:0% online when they do the exchange so you can<00:49:14.920> do<00:49:15.079> atomic<00:49:15.839> transactions<00:49:16.359> here<00:49:16.599> rather 00:49:16.750 --> 00:49:16.760 align:start position:0% can do atomic transactions here rather 00:49:16.760 --> 00:49:18.230 align:start position:0% can do atomic transactions here rather than<00:49:17.079> Peg<00:49:17.359> transactions<00:49:17.839> here<00:49:18.040> well<00:49:18.119> you<00:49:18.160> can 00:49:18.230 --> 00:49:18.240 align:start position:0% than Peg transactions here well you can 00:49:18.240 --> 00:49:19.430 align:start position:0% than Peg transactions here well you can do<00:49:18.359> security<00:49:18.640> deposits<00:49:18.960> for<00:49:19.119> everything 00:49:19.430 --> 00:49:19.440 align:start position:0% do security deposits for everything 00:49:19.440 --> 00:49:22.069 align:start position:0% do security deposits for everything can't<00:49:19.640> you<00:49:20.040> yeah<00:49:20.160> you<00:49:20.319> can<00:49:20.880> so<00:49:21.480> uh<00:49:21.720> security 00:49:22.069 --> 00:49:22.079 align:start position:0% can't you yeah you can so uh security 00:49:22.079 --> 00:49:23.990 align:start position:0% can't you yeah you can so uh security depos<00:49:22.480> are<00:49:22.599> the<00:49:22.720> best<00:49:22.920> because<00:49:23.160> it<00:49:23.720> lets<00:49:23.920> you 00:49:23.990 --> 00:49:24.000 align:start position:0% depos are the best because it lets you 00:49:24.000 --> 00:49:25.789 align:start position:0% depos are the best because it lets you make<00:49:24.240> an<00:49:24.319> a<00:49:25.040> really<00:49:25.280> strong<00:49:25.559> because<00:49:25.720> you 00:49:25.789 --> 00:49:25.799 align:start position:0% make an a really strong because you 00:49:25.799 --> 00:49:27.270 align:start position:0% make an a really strong because you can<00:49:26.119> basically<00:49:26.400> say<00:49:26.559> that<00:49:26.720> if<00:49:26.799> you<00:49:26.880> deviate 00:49:27.270 --> 00:49:27.280 align:start position:0% can basically say that if you deviate 00:49:27.280 --> 00:49:28.510 align:start position:0% can basically say that if you deviate from<00:49:27.400> it<00:49:27.480> in<00:49:27.599> a<00:49:27.799> detectable<00:49:28.280> way<00:49:28.400> your 00:49:28.510 --> 00:49:28.520 align:start position:0% from it in a detectable way your 00:49:28.520 --> 00:49:32.150 align:start position:0% from it in a detectable way your security<00:49:28.880> policy<00:49:29.160> goes 00:49:32.150 --> 00:49:32.160 align:start position:0% 00:49:32.160 --> 00:49:36.069 align:start position:0% away<00:49:33.160> which<00:49:33.319> is<00:49:33.880> NE<00:49:34.880> MH<00:49:35.440> and<00:49:35.559> we'll<00:49:35.839> probably 00:49:36.069 --> 00:49:36.079 align:start position:0% away which is NE MH and we'll probably 00:49:36.079 --> 00:49:37.390 align:start position:0% away which is NE MH and we'll probably talk<00:49:36.280> about<00:49:36.440> that<00:49:36.559> during<00:49:36.760> the<00:49:36.880> approv<00:49:37.160> state 00:49:37.390 --> 00:49:37.400 align:start position:0% talk about that during the approv state 00:49:37.400 --> 00:49:40.470 align:start position:0% talk about that during the approv state panel<00:49:37.960> y 00:49:40.470 --> 00:49:40.480 align:start position:0% panel y 00:49:40.480 --> 00:49:42.630 align:start position:0% panel y definitely<00:49:41.480> okay<00:49:41.839> anything 00:49:42.630 --> 00:49:42.640 align:start position:0% definitely okay anything 00:49:42.640 --> 00:49:50.310 align:start position:0% definitely okay anything else<00:49:43.640> with<00:49:43.839> that<00:49:44.000> said 00:49:50.310 --> 00:49:50.320 align:start position:0% 00:49:50.320 --> 00:49:55.630 align:start position:0% [Applause] 00:49:55.630 --> 00:49:55.640 align:start position:0% 00:49:55.640 --> 00:50:25.630 align:start position:0% cool 00:50:25.630 --> 00:50:25.640 align:start position:0% 00:50:25.640 --> 00:50:29.680 align:start position:0% e<00:50:26.680> e