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[Music]
okay<00:00:04.140><c> thank</c><00:00:05.130><c> you</c>

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okay thank you
 

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okay thank you
if<00:00:06.990><c> areum</c><00:00:07.410><c> 2.0</c><00:00:07.950><c> randomness</c><00:00:08.550><c> using</c><00:00:09.389><c> a</c>

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if areum 2.0 randomness using a
 

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if areum 2.0 randomness using a
verifiable<00:00:10.170><c> delay</c><00:00:10.769><c> function</c><00:00:12.530><c> so</c><00:00:13.530><c> I'm</c><00:00:13.889><c> gonna</c>

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verifiable delay function so I'm gonna
 

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verifiable delay function so I'm gonna
speak<00:00:14.370><c> about</c><00:00:14.670><c> how</c><00:00:15.630><c> to</c><00:00:15.690><c> build</c><00:00:16.020><c> a</c><00:00:16.320><c> randomness</c>

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speak about how to build a randomness
 

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speak about how to build a randomness
beacon<00:00:17.340><c> using</c><00:00:18.210><c> a</c><00:00:18.480><c> new</c><00:00:18.779><c> primitive</c><00:00:18.960><c> called</c><00:00:19.470><c> the</c>

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beacon using a new primitive called the
 

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beacon using a new primitive called the
vdf<00:00:19.980><c> and</c><00:00:20.340><c> then</c><00:00:21.180><c> I'm</c><00:00:21.300><c> going</c><00:00:21.480><c> to</c><00:00:21.510><c> explain</c><00:00:21.779><c> how</c><00:00:21.840><c> to</c>

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vdf and then I'm going to explain how to
 

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vdf and then I'm going to explain how to
build<00:00:22.529><c> the</c><00:00:22.980><c> vdf</c><00:00:23.369><c> the</c><00:00:23.640><c> cryptography</c><00:00:24.240><c> that</c><00:00:24.269><c> goes</c>

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build the vdf the cryptography that goes
 

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build the vdf the cryptography that goes
behind<00:00:24.689><c> it</c><00:00:25.050><c> and</c><00:00:25.320><c> the</c><00:00:26.099><c> hardware</c><00:00:26.519><c> the</c>

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behind it and the hardware the
 

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behind it and the hardware the
supporting<00:00:27.210><c> hardware</c><00:00:27.650><c> there</c><00:00:28.650><c> should</c><00:00:28.859><c> be</c><00:00:29.010><c> some</c>

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supporting hardware there should be some
 

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supporting hardware there should be some
time<00:00:29.820><c> for</c><00:00:29.970><c> questions</c><00:00:30.090><c> at</c><00:00:30.480><c> the</c><00:00:30.599><c> end</c><00:00:31.070><c> the</c><00:00:32.070><c> mics</c>

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time for questions at the end the mics
 

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time for questions at the end the mics
are<00:00:32.369><c> here</c><00:00:33.530><c> okay</c><00:00:34.940><c> so</c><00:00:35.940><c> let's</c><00:00:36.180><c> get</c><00:00:36.300><c> started</c><00:00:36.540><c> with</c>

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are here okay so let's get started with
 

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are here okay so let's get started with
the<00:00:36.780><c> randomness</c><00:00:37.230><c> beacon</c><00:00:37.559><c> so</c><00:00:38.550><c> we</c><00:00:39.059><c> use</c><00:00:39.329><c> the</c>

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the randomness beacon so we use the
 

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the randomness beacon so we use the
randomness<00:00:40.559><c> to</c><00:00:40.800><c> different</c><00:00:41.640><c> places</c><00:00:41.820><c> we</c><00:00:42.090><c> use</c><00:00:42.300><c> it</c>

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randomness to different places we use it
 

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randomness to different places we use it
at<00:00:43.170><c> the</c><00:00:43.290><c> consensus</c><00:00:43.770><c> layer</c><00:00:43.950><c> in</c><00:00:44.280><c> the</c><00:00:44.489><c> beacon</c>

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at the consensus layer in the beacon
 

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at the consensus layer in the beacon
chain<00:00:45.000><c> and</c><00:00:45.270><c> basically</c><00:00:46.230><c> we're</c><00:00:46.469><c> doing</c><00:00:46.680><c> secure</c>

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chain and basically we're doing secure
 

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chain and basically we're doing secure
sampling<00:00:47.640><c> of</c><00:00:47.730><c> validators</c><00:00:48.300><c> we</c><00:00:48.450><c> have</c><00:00:48.570><c> this</c><00:00:48.719><c> huge</c>

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sampling of validators we have this huge
 

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sampling of validators we have this huge
pool<00:00:49.260><c> of</c><00:00:49.289><c> validators</c><00:00:49.980><c> each</c><00:00:50.760><c> with</c><00:00:51.090><c> 32</c><00:00:51.539><c> Eve</c><00:00:51.780><c> that</c>

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pool of validators each with 32 Eve that
 

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pool of validators each with 32 Eve that
could<00:00:52.770><c> be</c><00:00:52.860><c> a</c><00:00:52.890><c> hundred</c><00:00:53.190><c> thousand</c><00:00:53.610><c> or</c><00:00:53.730><c> even</c>

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could be a hundred thousand or even
 

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could be a hundred thousand or even
millions<00:00:54.120><c> of</c><00:00:54.390><c> validators</c><00:00:54.989><c> and</c><00:00:55.530><c> we're</c>

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millions of validators and we're
 

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millions of validators and we're
basically<00:00:57.079><c> sampling</c><00:00:58.079><c> what</c><00:00:58.739><c> we</c><00:00:58.829><c> call</c><00:00:58.980><c> leaders</c>

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basically sampling what we call leaders
 

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basically sampling what we call leaders
and<00:00:59.699><c> committees</c><00:01:00.120><c> and</c><00:01:00.680><c> that's</c><00:01:01.680><c> part</c><00:01:01.949><c> of</c><00:01:02.070><c> the</c>

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and committees and that's part of the
 

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and committees and that's part of the
the<00:01:02.730><c> process</c><00:01:03.149><c> of</c><00:01:03.390><c> fum</c><00:01:03.750><c> 2.0</c><00:01:04.220><c> in</c><00:01:05.220><c> addition</c><00:01:05.700><c> to</c>

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the process of fum 2.0 in addition to
 

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the process of fum 2.0 in addition to
using<00:01:05.970><c> it</c><00:01:06.270><c> at</c><00:01:06.750><c> the</c><00:01:06.900><c> consensus</c><00:01:07.350><c> layer</c><00:01:07.530><c> we</c><00:01:07.710><c> can</c>

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using it at the consensus layer we can
 

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using it at the consensus layer we can
also<00:01:08.040><c> expose</c><00:01:08.520><c> it</c><00:01:08.760><c> in</c><00:01:09.180><c> the</c><00:01:09.510><c> shards</c><00:01:09.780><c> at</c><00:01:10.140><c> the</c>

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also expose it in the shards at the
 

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also expose it in the shards at the
application<00:01:10.920><c> layer</c><00:01:11.070><c> so</c><00:01:11.520><c> through</c><00:01:12.210><c> an</c><00:01:12.360><c> up</c><00:01:12.540><c> code</c>

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application layer so through an up code
 

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application layer so through an up code
in<00:01:13.619><c> the</c><00:01:13.770><c> film</c><00:01:13.979><c> 2.0</c><00:01:14.369><c> you</c><00:01:14.549><c> should</c><00:01:14.729><c> be</c><00:01:14.850><c> able</c><00:01:14.939><c> to</c>

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in the film 2.0 you should be able to
 

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in the film 2.0 you should be able to
have<00:01:15.390><c> totally</c><00:01:16.200><c> unbiased</c><00:01:16.619><c> able</c><00:01:17.009><c> randomness</c><00:01:17.549><c> as</c>

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have totally unbiased able randomness as
 

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have totally unbiased able randomness as
a<00:01:18.090><c> core</c><00:01:18.390><c> primitive</c><00:01:18.869><c> in</c><00:01:19.140><c> the</c><00:01:19.380><c> virtual</c><00:01:19.710><c> machine</c>

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a core primitive in the virtual machine
 

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a core primitive in the virtual machine
and<00:01:20.310><c> so</c><00:01:20.729><c> that</c><00:01:20.880><c> should</c><00:01:21.060><c> be</c><00:01:21.119><c> useful</c><00:01:21.869><c> for</c>

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and so that should be useful for
 

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and so that should be useful for
lotteries<00:01:23.040><c> and</c><00:01:23.400><c> gambling</c><00:01:23.880><c> and</c><00:01:24.180><c> gaming</c><00:01:24.540><c> and</c>

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lotteries and gambling and gaming and
 

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lotteries and gambling and gaming and
all<00:01:25.110><c> sorts</c><00:01:25.350><c> of</c><00:01:25.409><c> a</c><00:01:25.500><c> verifications</c><00:01:26.930><c> so</c><00:01:27.930><c> what</c><00:01:28.080><c> are</c>

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all sorts of a verifications so what are
 

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all sorts of a verifications so what are
the<00:01:28.259><c> goals</c><00:01:28.500><c> for</c><00:01:28.979><c> the</c><00:01:29.670><c> randomness</c><00:01:30.329><c> beacon</c><00:01:30.720><c> we</c>

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the goals for the randomness beacon we
 

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the goals for the randomness beacon we
want<00:01:31.770><c> it</c><00:01:31.860><c> to</c><00:01:31.920><c> be</c><00:01:32.009><c> unpredictable</c><00:01:32.280><c> of</c><00:01:32.850><c> course</c><00:01:33.090><c> we</c>

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want it to be unpredictable of course we
 

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want it to be unpredictable of course we
want<00:01:34.290><c> it</c><00:01:34.439><c> to</c><00:01:34.560><c> be</c><00:01:34.650><c> unbiased</c><00:01:35.159><c> able</c><00:01:35.610><c> and</c><00:01:35.790><c> it</c><00:01:36.329><c> turns</c>

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want it to be unbiased able and it turns
 

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want it to be unbiased able and it turns
out<00:01:36.659><c> that's</c><00:01:36.900><c> much</c><00:01:37.530><c> more</c><00:01:37.710><c> difficult</c><00:01:38.100><c> to</c><00:01:38.189><c> do</c><00:01:38.369><c> and</c>

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out that's much more difficult to do and
 

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out that's much more difficult to do and
we<00:01:39.960><c> also</c><00:01:40.110><c> want</c><00:01:40.409><c> it</c><00:01:40.530><c> to</c><00:01:40.560><c> be</c><00:01:40.710><c> unstoppable</c><00:01:41.670><c> and</c>

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we also want it to be unstoppable and
 

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we also want it to be unstoppable and
I'll<00:01:41.880><c> talk</c><00:01:42.090><c> more</c><00:01:42.119><c> about</c><00:01:42.299><c> that</c><00:01:42.479><c> later</c><00:01:43.759><c> so</c>

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I'll talk more about that later so
 

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I'll talk more about that later so
there's<00:01:46.710><c> basically</c><00:01:46.890><c> two</c><00:01:47.520><c> classical</c><00:01:48.479><c> families</c>

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there's basically two classical families
 

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there's basically two classical families
of<00:01:49.380><c> randomness</c><00:01:49.890><c> beacons</c><00:01:50.399><c> there's</c><00:01:50.899><c> beacons</c>

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of randomness beacons there's beacons
 

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of randomness beacons there's beacons
based<00:01:52.259><c> on</c><00:01:52.619><c> commit</c><00:01:53.070><c> reveal</c><00:01:53.840><c> for</c><00:01:54.840><c> example</c>

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based on commit reveal for example
 

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based on commit reveal for example
Randall<00:01:56.070><c> and</c><00:01:56.960><c> these</c><00:01:58.100><c> randomness</c><00:01:59.100><c> beacons</c>

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Randall and these randomness beacons
 

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Randall and these randomness beacons
have<00:01:59.759><c> an</c><00:02:00.719><c> attack</c><00:02:01.110><c> which</c><00:02:01.380><c> is</c><00:02:01.500><c> called</c><00:02:01.680><c> the</c><00:02:01.740><c> last</c>

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have an attack which is called the last
 

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have an attack which is called the last
revealer<00:02:02.369><c> attack</c><00:02:02.700><c> so</c><00:02:03.299><c> you</c><00:02:03.719><c> have</c><00:02:04.020><c> an</c><00:02:04.140><c> ordered</c>

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revealer attack so you have an ordered
 

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revealer attack so you have an ordered
list<00:02:04.829><c> of</c><00:02:05.130><c> participants</c><00:02:05.579><c> and</c><00:02:05.820><c> then</c><00:02:05.969><c> when</c>

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list of participants and then when
 

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list of participants and then when
you're<00:02:06.780><c> about</c><00:02:06.899><c> to</c><00:02:06.960><c> use</c><00:02:07.200><c> the</c><00:02:07.320><c> randomness</c><00:02:07.770><c> the</c>

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you're about to use the randomness the
 

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you're about to use the randomness the
last<00:02:08.160><c> participant</c><00:02:08.520><c> can</c><00:02:08.879><c> either</c><00:02:08.970><c> reveal</c><00:02:09.509><c> or</c>

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last participant can either reveal or
 

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last participant can either reveal or
not<00:02:09.840><c> reveal</c><00:02:10.170><c> and</c><00:02:10.500><c> therefore</c><00:02:11.129><c> bias</c><00:02:11.340><c> the</c>

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not reveal and therefore bias the
 

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not reveal and therefore bias the
randomness

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randomness
 

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randomness
and<00:02:13.209><c> then</c><00:02:13.450><c> you</c><00:02:13.569><c> have</c><00:02:13.690><c> approaches</c><00:02:14.290><c> such</c><00:02:14.560><c> as</c><00:02:14.769><c> the</c>

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and then you have approaches such as the
 

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and then you have approaches such as the
the<00:02:16.030><c> Definity</c><00:02:16.720><c> construction</c><00:02:17.459><c> which</c><00:02:18.459><c> is</c><00:02:18.670><c> based</c>

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the Definity construction which is based
 

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the Definity construction which is based
on<00:02:19.090><c> threshold</c><00:02:19.599><c> cryptography</c><00:02:20.200><c> and</c><00:02:20.610><c> these</c>

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on threshold cryptography and these
 

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on threshold cryptography and these
basically<00:02:23.650><c> require</c><00:02:24.580><c> a</c><00:02:24.910><c> certain</c><00:02:25.239><c> threshold</c><00:02:25.480><c> of</c>

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basically require a certain threshold of
 

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basically require a certain threshold of
online<00:02:26.470><c> participants</c><00:02:27.040><c> to</c><00:02:27.310><c> create</c><00:02:27.459><c> the</c><00:02:27.700><c> next</c>

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online participants to create the next
 

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online participants to create the next
random<00:02:28.239><c> number</c><00:02:28.420><c> and</c><00:02:28.870><c> so</c><00:02:29.260><c> if</c><00:02:29.379><c> you</c><00:02:29.470><c> don't</c><00:02:29.680><c> have</c>

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random number and so if you don't have
 

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random number and so if you don't have
enough<00:02:30.190><c> online</c><00:02:30.790><c> participants</c><00:02:31.629><c> the</c>

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enough online participants the
 

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enough online participants the
randomness<00:02:33.250><c> beacon</c><00:02:33.640><c> stalls</c><00:02:34.000><c> and</c><00:02:34.330><c> in</c><00:02:34.810><c> the</c><00:02:34.870><c> case</c>

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randomness beacon stalls and in the case
 

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randomness beacon stalls and in the case
of<00:02:35.170><c> the</c><00:02:35.260><c> affinity</c><00:02:35.620><c> that</c><00:02:35.650><c> just</c><00:02:36.330><c> stops</c><00:02:37.330><c> the</c>

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of the affinity that just stops the
 

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of the affinity that just stops the
whole<00:02:37.569><c> blockchain</c><00:02:38.340><c> so</c><00:02:39.690><c> to</c><00:02:40.690><c> give</c><00:02:41.019><c> a</c><00:02:41.049><c> bit</c><00:02:41.200><c> more</c>

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whole blockchain so to give a bit more
 

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whole blockchain so to give a bit more
context<00:02:41.830><c> on</c><00:02:41.920><c> this</c><00:02:42.129><c> last</c><00:02:42.370><c> condition</c><00:02:43.440><c> one</c><00:02:44.440><c> of</c>

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context on this last condition one of
 

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context on this last condition one of
the<00:02:44.620><c> design</c><00:02:44.980><c> goals</c><00:02:45.010><c> of</c><00:02:45.400><c> a</c><00:02:45.489><c> film</c><00:02:45.670><c> 2.0</c><00:02:46.120><c> is</c><00:02:46.269><c> to</c>

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the design goals of a film 2.0 is to
 

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the design goals of a film 2.0 is to
survive<00:02:46.750><c> world</c><00:02:47.170><c> war</c><00:02:47.380><c> 3</c><00:02:47.620><c> so</c><00:02:48.099><c> we're</c><00:02:48.489><c> assuming</c>

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survive world war 3 so we're assuming
 

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survive world war 3 so we're assuming
that<00:02:49.120><c> 80%</c><00:02:49.480><c> of</c><00:02:49.810><c> the</c><00:02:49.900><c> nodes</c><00:02:50.110><c> could</c><00:02:50.680><c> go</c><00:02:50.890><c> offline</c>

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that 80% of the nodes could go offline
 

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that 80% of the nodes could go offline
and<00:02:51.610><c> we</c><00:02:52.000><c> still</c><00:02:52.329><c> want</c><00:02:52.630><c> the</c><00:02:52.989><c> system</c><00:02:53.380><c> to</c><00:02:53.620><c> run</c><00:02:55.440><c> so</c>

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and we still want the system to run so
 

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and we still want the system to run so
let<00:02:56.560><c> me</c><00:02:56.650><c> briefly</c><00:02:57.000><c> explain</c><00:02:58.000><c> how</c><00:02:58.030><c> Randol</c><00:02:58.690><c> works</c>

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let me briefly explain how Randol works
 

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let me briefly explain how Randol works
because<00:02:59.410><c> we're</c><00:02:59.590><c> going</c><00:02:59.739><c> to</c><00:02:59.860><c> be</c><00:03:00.069><c> building</c><00:03:00.370><c> upon</c>

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because we're going to be building upon
 

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because we're going to be building upon
it<00:03:00.790><c> so</c><00:03:01.319><c> in</c><00:03:02.319><c> R</c><00:03:02.530><c> and</c><00:03:02.739><c> out</c><00:03:02.950><c> you</c><00:03:03.129><c> have</c><00:03:03.280><c> a</c><00:03:03.310><c> random</c>

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it so in R and out you have a random
 

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it so in R and out you have a random
network<00:03:04.260><c> about</c><00:03:05.260><c> 17</c><00:03:05.890><c> minutes</c><00:03:06.250><c> and</c><00:03:06.430><c> that's</c><00:03:06.579><c> a</c>

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network about 17 minutes and that's a
 

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network about 17 minutes and that's a
hundred<00:03:07.180><c> and</c><00:03:07.329><c> twenty</c><00:03:07.629><c> eight</c><00:03:07.660><c> slots</c><00:03:08.079><c> each</c><00:03:08.349><c> slot</c>

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hundred and twenty eight slots each slot
 

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hundred and twenty eight slots each slot
is<00:03:09.780><c> eight</c><00:03:10.780><c> seconds</c><00:03:11.519><c> basically</c><00:03:12.519><c> in</c><00:03:12.940><c> the</c><00:03:13.060><c> beacon</c>

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is eight seconds basically in the beacon
 

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is eight seconds basically in the beacon
chain<00:03:13.510><c> and</c><00:03:13.690><c> in</c><00:03:13.780><c> each</c><00:03:13.989><c> slot</c><00:03:14.290><c> you</c><00:03:14.560><c> have</c><00:03:14.590><c> a</c><00:03:14.739><c> beacon</c>

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chain and in each slot you have a beacon
 

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chain and in each slot you have a beacon
proposer<00:03:15.579><c> the</c><00:03:16.299><c> beacon</c><00:03:16.600><c> proposer</c><00:03:16.989><c> is</c><00:03:17.200><c> invited</c>

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proposer the beacon proposer is invited
 

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proposer the beacon proposer is invited
to<00:03:18.010><c> create</c><00:03:18.280><c> a</c><00:03:18.370><c> block</c><00:03:18.700><c> and</c><00:03:19.019><c> basically</c><00:03:20.019><c> reveal</c><00:03:20.590><c> a</c>

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to create a block and basically reveal a
 

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to create a block and basically reveal a
secret<00:03:22.239><c> that</c><00:03:22.600><c> they've</c><00:03:22.780><c> committed</c><00:03:23.350><c> to</c><00:03:23.620><c> in</c><00:03:24.160><c> the</c>

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secret that they've committed to in the
 

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secret that they've committed to in the
past

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past
 

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past
so<00:03:25.660><c> the</c><00:03:26.560><c> first</c><00:03:26.769><c> beacon</c><00:03:27.069><c> proposer</c><00:03:27.430><c> reveals</c><00:03:28.060><c> the</c>

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so the first beacon proposer reveals the
 

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so the first beacon proposer reveals the
secret<00:03:28.660><c> secret</c><00:03:29.079><c> which</c><00:03:29.260><c> is</c><00:03:29.410><c> like</c><00:03:29.590><c> local</c>

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secret secret which is like local
 

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secret secret which is like local
entropy<00:03:30.970><c> and</c><00:03:31.180><c> it</c><00:03:32.130><c> contributes</c><00:03:33.130><c> to</c><00:03:33.400><c> this</c><00:03:33.519><c> pool</c>

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entropy and it contributes to this pool
 

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entropy and it contributes to this pool
of<00:03:34.060><c> entropy</c><00:03:34.389><c> through</c><00:03:34.870><c> the</c><00:03:34.989><c> random</c><00:03:35.380><c> mix</c><00:03:35.620><c> so</c><00:03:36.250><c> we</c>

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of entropy through the random mix so we
 

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of entropy through the random mix so we
have<00:03:36.519><c> the</c><00:03:36.730><c> the</c><00:03:36.760><c> next</c><00:03:37.389><c> revealer</c><00:03:38.290><c> that's</c><00:03:38.500><c> mixed</c>

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have the the next revealer that's mixed
 

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have the the next revealer that's mixed
in<00:03:38.980><c> using</c><00:03:39.430><c> the</c><00:03:39.790><c> XOR</c><00:03:40.209><c> sign</c><00:03:41.849><c> you</c><00:03:42.849><c> know</c><00:03:42.970><c> it's</c><00:03:43.299><c> okay</c>

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in using the XOR sign you know it's okay
 

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in using the XOR sign you know it's okay
if<00:03:43.959><c> some</c><00:03:44.489><c> proposals</c><00:03:45.489><c> don't</c><00:03:46.150><c> show</c><00:03:46.359><c> up</c><00:03:46.510><c> and</c>

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if some proposals don't show up and
 

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if some proposals don't show up and
don't<00:03:46.870><c> reveal</c><00:03:47.109><c> we</c><00:03:47.349><c> just</c><00:03:47.560><c> move</c><00:03:47.769><c> on</c><00:03:47.980><c> and</c><00:03:48.269><c> then</c>

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don't reveal we just move on and then
 

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don't reveal we just move on and then
once<00:03:49.540><c> we</c><00:03:49.810><c> want</c><00:03:50.049><c> to</c><00:03:50.169><c> use</c><00:03:50.410><c> the</c><00:03:50.530><c> randomness</c><00:03:51.069><c> for</c>

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once we want to use the randomness for
 

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once we want to use the randomness for
example<00:03:51.579><c> at</c><00:03:51.700><c> the</c><00:03:51.849><c> very</c><00:03:52.090><c> end</c><00:03:52.329><c> of</c><00:03:52.569><c> the</c><00:03:52.720><c> epoch</c><00:03:53.049><c> at</c>

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example at the very end of the epoch at
 

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example at the very end of the epoch at
slot<00:03:53.530><c> 128</c><00:03:55.530><c> this</c><00:03:56.530><c> is</c><00:03:56.650><c> where</c><00:03:56.799><c> the</c><00:03:56.859><c> problems</c>

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slot 128 this is where the problems
 

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slot 128 this is where the problems
start<00:03:57.310><c> coming</c><00:03:57.819><c> up</c><00:03:57.940><c> because</c><00:03:58.150><c> the</c><00:03:58.329><c> last</c>

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start coming up because the last
 

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start coming up because the last
revealer<00:03:59.410><c> already</c><00:04:00.099><c> knows</c><00:04:00.400><c> all</c><00:04:00.849><c> the</c><00:04:01.000><c> previous</c>

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revealer already knows all the previous
 

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revealer already knows all the previous
actions<00:04:01.780><c> of</c><00:04:02.049><c> the</c><00:04:02.859><c> the</c><00:04:03.190><c> previous</c><00:04:03.849><c> proposals</c>

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actions of the the previous proposals
 

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actions of the the previous proposals
and<00:04:04.569><c> so</c><00:04:04.959><c> they</c><00:04:05.079><c> have</c><00:04:05.200><c> a</c><00:04:05.230><c> choice</c><00:04:05.500><c> that</c><00:04:05.530><c> can</c>

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and so they have a choice that can
 

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and so they have a choice that can
either<00:04:06.030><c> stay</c><00:04:07.030><c> put</c><00:04:07.299><c> and</c><00:04:07.510><c> not</c><00:04:07.690><c> reveal</c><00:04:08.019><c> or</c><00:04:08.260><c> reveal</c>

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either stay put and not reveal or reveal
 

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either stay put and not reveal or reveal
the<00:04:09.190><c> secret</c><00:04:09.609><c> and</c><00:04:09.819><c> effectively</c><00:04:10.660><c> they</c><00:04:10.930><c> can</c>

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the secret and effectively they can
 

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the secret and effectively they can
choose<00:04:11.470><c> between</c><00:04:12.250><c> two</c><00:04:12.700><c> random</c><00:04:13.120><c> numbers</c><00:04:13.150><c> and</c>

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choose between two random numbers and
 

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choose between two random numbers and
they'll<00:04:14.590><c> choose</c><00:04:14.919><c> whichever</c><00:04:15.310><c> is</c><00:04:15.579><c> most</c>

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they'll choose whichever is most
 

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they'll choose whichever is most
favorable<00:04:16.479><c> to</c><00:04:16.510><c> them</c><00:04:16.750><c> and</c><00:04:16.930><c> that</c><00:04:17.049><c> opens</c><00:04:17.410><c> the</c>

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favorable to them and that opens the
 

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favorable to them and that opens the
door<00:04:17.739><c> to</c><00:04:17.769><c> various</c><00:04:18.579><c> attacks</c>

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okay<00:04:23.470><c> so</c><00:04:24.120><c> we</c><00:04:25.120><c> have</c><00:04:25.300><c> this</c><00:04:25.419><c> new</c><00:04:25.690><c> cryptographic</c>

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okay so we have this new cryptographic
 

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okay so we have this new cryptographic
primitive<00:04:26.740><c> which</c><00:04:26.979><c> is</c><00:04:27.130><c> very</c><00:04:27.819><c> recent</c><00:04:28.289><c> just</c><00:04:29.289><c> a</c>

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primitive which is very recent just a
 

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primitive which is very recent just a
few<00:04:29.560><c> months</c><00:04:29.800><c> old</c><00:04:29.979><c> and</c><00:04:32.250><c> it's</c><00:04:33.250><c> vdf</c><00:04:34.210><c> so</c><00:04:34.479><c> the</c>

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few months old and it's vdf so the
 

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few months old and it's vdf so the
function<00:04:35.050><c> part</c><00:04:35.289><c> of</c><00:04:35.470><c> it</c><00:04:35.620><c> is</c><00:04:36.280><c> very</c><00:04:36.400><c> simple</c><00:04:36.699><c> just</c>

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function part of it is very simple just
 

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function part of it is very simple just
means<00:04:37.240><c> that</c><00:04:37.389><c> you</c><00:04:37.479><c> have</c><00:04:37.599><c> an</c><00:04:37.690><c> input</c><00:04:37.870><c> and</c><00:04:38.319><c> for</c>

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means that you have an input and for
 

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means that you have an input and for
every<00:04:39.039><c> input</c><00:04:39.400><c> you</c><00:04:39.940><c> have</c><00:04:40.090><c> a</c><00:04:40.120><c> unique</c><00:04:40.449><c> output</c><00:04:40.900><c> and</c>

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every input you have a unique output and
 

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every input you have a unique output and
if<00:04:41.979><c> you</c><00:04:42.099><c> want</c><00:04:42.310><c> you</c><00:04:42.460><c> can</c><00:04:42.550><c> think</c><00:04:42.789><c> of</c><00:04:42.880><c> it</c><00:04:43.030><c> as</c><00:04:43.210><c> a</c>

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if you want you can think of it as a
 

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if you want you can think of it as a
hash<00:04:43.810><c> function</c><00:04:45.150><c> there's</c><00:04:46.150><c> a</c><00:04:46.240><c> second</c><00:04:46.660><c> parameter</c>

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hash function there's a second parameter
 

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hash function there's a second parameter
which<00:04:47.259><c> is</c><00:04:47.289><c> the</c><00:04:47.410><c> difficulty</c><00:04:48.069><c> so</c><00:04:48.310><c> the</c>

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which is the difficulty so the
 

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which is the difficulty so the
difficulty<00:04:49.509><c> specifies</c><00:04:50.110><c> the</c><00:04:50.830><c> amount</c><00:04:50.860><c> of</c>

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difficulty specifies the amount of
 

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difficulty specifies the amount of
sequential<00:04:51.729><c> work</c><00:04:52.150><c> that</c><00:04:52.780><c> needs</c><00:04:53.110><c> to</c><00:04:53.319><c> be</c><00:04:53.349><c> done</c><00:04:53.680><c> in</c>

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sequential work that needs to be done in
 

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sequential work that needs to be done in
order<00:04:54.250><c> to</c><00:04:54.810><c> compute</c><00:04:55.810><c> the</c><00:04:55.960><c> output</c><00:04:56.280><c> so</c><00:04:57.280><c> we're</c>

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order to compute the output so we're
 

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order to compute the output so we're
talking<00:04:57.729><c> about</c><00:04:57.849><c> inherently</c><00:04:58.570><c> sequential</c>

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talking about inherently sequential
 

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talking about inherently sequential
computation<00:04:59.440><c> which</c><00:05:00.400><c> takes</c><00:05:00.729><c> time</c><00:05:01.060><c> and</c><00:05:01.240><c> this</c><00:05:01.330><c> is</c>

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computation which takes time and this is
 

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computation which takes time and this is
whether<00:05:01.720><c> the</c><00:05:02.110><c> delay</c><00:05:02.370><c> part</c><00:05:03.370><c> of</c><00:05:03.520><c> EDF</c><00:05:03.910><c> comes</c><00:05:04.180><c> in</c>

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whether the delay part of EDF comes in
 

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whether the delay part of EDF comes in
and<00:05:04.979><c> then</c><00:05:05.979><c> we</c><00:05:06.190><c> have</c><00:05:06.460><c> a</c><00:05:06.820><c> second</c><00:05:07.419><c> output</c><00:05:07.599><c> which</c>

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and then we have a second output which
 

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and then we have a second output which
is<00:05:08.139><c> the</c><00:05:08.259><c> proof</c><00:05:08.560><c> and</c><00:05:09.180><c> this</c><00:05:10.180><c> is</c><00:05:10.330><c> where</c><00:05:10.539><c> the</c>

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is the proof and this is where the
 

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is the proof and this is where the
verifiable<00:05:11.349><c> part</c><00:05:11.680><c> comes</c><00:05:11.919><c> in</c><00:05:12.070><c> basically</c><00:05:12.970><c> once</c>

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verifiable part comes in basically once
 

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verifiable part comes in basically once
you've<00:05:13.389><c> done</c><00:05:13.630><c> the</c><00:05:14.229><c> computation</c><00:05:15.000><c> and</c><00:05:16.000><c> you</c><00:05:16.060><c> have</c>

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you've done the computation and you have
 

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you've done the computation and you have
the<00:05:16.479><c> output</c><00:05:16.900><c> you</c><00:05:17.530><c> can</c><00:05:17.710><c> also</c><00:05:17.979><c> produce</c><00:05:18.310><c> a</c><00:05:18.520><c> proof</c>

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the output you can also produce a proof
 

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the output you can also produce a proof
and<00:05:19.090><c> give</c><00:05:19.360><c> the</c><00:05:19.539><c> proof</c><00:05:19.810><c> to</c><00:05:20.110><c> others</c><00:05:20.500><c> and</c>

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and give the proof to others and
 

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and give the proof to others and
convince<00:05:21.520><c> them</c><00:05:21.789><c> that</c><00:05:21.819><c> the</c><00:05:22.240><c> output</c>

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convince them that the output
 

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convince them that the output
corresponds<00:05:23.770><c> to</c><00:05:23.860><c> the</c><00:05:24.069><c> input</c><00:05:24.270><c> immediately</c>

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corresponds to the input immediately
 

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corresponds to the input immediately
without<00:05:25.930><c> having</c><00:05:26.259><c> to</c><00:05:26.409><c> do</c><00:05:26.560><c> all</c><00:05:26.800><c> the</c><00:05:26.919><c> sequential</c>

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without having to do all the sequential
 

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without having to do all the sequential
work<00:05:30.180><c> okay</c><00:05:31.180><c> so</c><00:05:31.210><c> this</c><00:05:32.110><c> is</c><00:05:32.320><c> the</c><00:05:33.030><c> gist</c><00:05:34.030><c> of</c><00:05:34.150><c> the</c>

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work okay so this is the gist of the
 

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work okay so this is the gist of the
construction<00:05:34.840><c> we</c><00:05:35.050><c> have</c><00:05:35.080><c> two</c><00:05:35.979><c> parts</c><00:05:36.370><c> we</c><00:05:36.909><c> have</c>

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construction we have two parts we have
 

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construction we have two parts we have
the<00:05:37.240><c> random</c><00:05:37.539><c> mixing</c><00:05:38.340><c> period</c><00:05:39.340><c> which</c><00:05:39.580><c> is</c><00:05:39.699><c> one</c>

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the random mixing period which is one
 

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the random mixing period which is one
epoch<00:05:40.270><c> and</c><00:05:40.930><c> that</c><00:05:41.289><c> produces</c><00:05:41.919><c> a</c><00:05:42.219><c> bias</c><00:05:42.759><c> of</c><00:05:43.060><c> all</c>

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epoch and that produces a bias of all
 

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epoch and that produces a bias of all
random<00:05:43.449><c> mix</c><00:05:43.960><c> and</c><00:05:44.259><c> then</c><00:05:44.949><c> you</c><00:05:45.099><c> feed</c><00:05:45.400><c> in</c><00:05:45.639><c> the</c>

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random mix and then you feed in the
 

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random mix and then you feed in the
random<00:05:46.870><c> mix</c><00:05:47.219><c> into</c><00:05:48.219><c> your</c><00:05:48.430><c> vdf</c><00:05:48.940><c> the</c><00:05:49.599><c> vdf</c><00:05:50.050><c> is</c>

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random mix into your vdf the vdf is
 

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random mix into your vdf the vdf is
going<00:05:50.380><c> to</c><00:05:50.440><c> take</c><00:05:50.620><c> time</c><00:05:50.889><c> to</c><00:05:51.070><c> compute</c><00:05:51.370><c> at</c><00:05:51.580><c> least</c>

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going to take time to compute at least
 

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going to take time to compute at least
one<00:05:52.180><c> Airpark</c><00:05:52.630><c> of</c><00:05:52.810><c> guarantee</c><00:05:53.710><c> delay</c><00:05:54.070><c> and</c><00:05:54.340><c> then</c>

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one Airpark of guarantee delay and then
 

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one Airpark of guarantee delay and then
on<00:05:55.300><c> the</c><00:05:55.419><c> other</c><00:05:55.449><c> side</c><00:05:55.810><c> the</c><00:05:56.080><c> output</c><00:05:56.500><c> is</c><00:05:57.039><c> going</c><00:05:57.310><c> to</c>

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on the other side the output is going to
 

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on the other side the output is going to
be<00:05:57.550><c> your</c><00:05:57.729><c> own</c><00:05:57.909><c> bias</c><00:05:58.210><c> of</c><00:05:58.419><c> all</c><00:05:58.539><c> randomness</c><00:05:59.340><c> okay</c>

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be your own bias of all randomness okay
 

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be your own bias of all randomness okay
so<00:06:01.960><c> this</c><00:06:02.139><c> is</c><00:06:02.349><c> briefly</c><00:06:03.070><c> the</c><00:06:03.370><c> the</c><00:06:03.639><c> safety</c>

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so this is briefly the the safety
 

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so this is briefly the the safety
argument<00:06:04.389><c> why</c><00:06:04.539><c> does</c><00:06:04.810><c> this</c><00:06:04.960><c> produce</c><00:06:05.199><c> on</c><00:06:05.650><c> bias</c>

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argument why does this produce on bias
 

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argument why does this produce on bias
of<00:06:06.310><c> all</c><00:06:06.400><c> randomness</c><00:06:06.880><c> so</c><00:06:08.070><c> if</c><00:06:09.070><c> you</c><00:06:09.250><c> look</c><00:06:09.400><c> at</c><00:06:09.550><c> one</c>

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of all randomness so if you look at one
 

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of all randomness so if you look at one
given<00:06:10.180><c> epoch</c><00:06:11.099><c> you</c><00:06:12.099><c> will</c><00:06:12.250><c> have</c><00:06:12.430><c> at</c><00:06:12.580><c> least</c><00:06:12.610><c> one</c>

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given epoch you will have at least one
 

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given epoch you will have at least one
on<00:06:13.479><c> this</c><00:06:13.599><c> proposer</c><00:06:13.990><c> and</c><00:06:14.139><c> the</c><00:06:14.409><c> reason</c><00:06:14.680><c> is</c>

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on this proposer and the reason is
 

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on this proposer and the reason is
because<00:06:14.889><c> we</c><00:06:15.580><c> have</c><00:06:15.699><c> a</c><00:06:15.729><c> hundred</c><00:06:15.969><c> and</c><00:06:16.150><c> twenty</c>

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because we have a hundred and twenty
 

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because we have a hundred and twenty
eight<00:06:16.539><c> blocks</c><00:06:16.840><c> and</c><00:06:17.110><c> we</c><00:06:17.530><c> have</c><00:06:17.740><c> an</c><00:06:17.949><c> honesty</c>

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eight blocks and we have an honesty
 

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eight blocks and we have an honesty
assumption<00:06:18.849><c> and</c><00:06:18.969><c> the</c><00:06:19.060><c> liveness</c><00:06:19.270><c> assumption</c>

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assumption and the liveness assumption
 

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assumption and the liveness assumption
which<00:06:20.469><c> says</c><00:06:20.740><c> that</c><00:06:20.770><c> with</c><00:06:21.280><c> very</c><00:06:21.699><c> high</c>

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which says that with very high
 

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which says that with very high
probability<00:06:22.030><c> we'll</c><00:06:22.659><c> have</c><00:06:22.900><c> the</c><00:06:23.110><c> at</c><00:06:23.259><c> least</c><00:06:23.409><c> one</c>

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probability we'll have the at least one
 

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probability we'll have the at least one
and<00:06:24.360><c> if</c><00:06:25.360><c> you</c><00:06:25.840><c> look</c><00:06:26.050><c> at</c><00:06:26.259><c> the</c><00:06:26.469><c> last</c><00:06:26.800><c> on</c><00:06:27.070><c> this</c>

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and if you look at the last on this
 

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and if you look at the last on this
proposer<00:06:27.960><c> that</c><00:06:28.960><c> will</c><00:06:29.139><c> be</c><00:06:29.320><c> the</c><00:06:29.919><c> point</c><00:06:30.159><c> after</c>

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proposer that will be the point after
 

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proposer that will be the point after
which<00:06:31.199><c> everything</c><00:06:32.199><c> is</c><00:06:32.320><c> predictable</c><00:06:32.620><c> by</c><00:06:33.099><c> the</c>

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which everything is predictable by the
 

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which everything is predictable by the
attacker<00:06:33.610><c> so</c><00:06:34.510><c> the</c><00:06:34.659><c> attacker</c><00:06:35.020><c> can</c><00:06:35.199><c> try</c><00:06:35.529><c> and</c>

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attacker so the attacker can try and
 

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attacker so the attacker can try and
bill<00:06:36.420><c> the</c><00:06:36.600><c> various</c><00:06:36.990><c> around</c><00:06:37.260><c> our</c><00:06:37.440><c> mixes</c><00:06:37.890><c> given</c>

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bill the various around our mixes given
 

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bill the various around our mixes given
his<00:06:39.000><c> local</c><00:06:39.480><c> entropy</c><00:06:39.930><c> and</c><00:06:40.200><c> he</c><00:06:40.680><c> can</c><00:06:40.800><c> start</c>

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his local entropy and he can start
 

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his local entropy and he can start
feeding<00:06:41.520><c> it</c><00:06:41.820><c> into</c><00:06:42.270><c> the</c><00:06:42.720><c> vdf</c><00:06:43.110><c> as</c><00:06:43.380><c> soon</c><00:06:43.680><c> as</c>

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feeding it into the vdf as soon as
 

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feeding it into the vdf as soon as
possible

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possible
 

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possible
but<00:06:45.000><c> the</c><00:06:45.150><c> vdf</c><00:06:45.540><c> is</c><00:06:45.870><c> going</c><00:06:46.380><c> to</c><00:06:46.440><c> give</c><00:06:46.590><c> you</c><00:06:46.710><c> a</c>

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but the vdf is going to give you a
 

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but the vdf is going to give you a
guaranteed<00:06:47.310><c> delay</c><00:06:47.580><c> of</c><00:06:47.790><c> one</c><00:06:48.000><c> epoch</c><00:06:48.390><c> which</c>

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guaranteed delay of one epoch which
 

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guaranteed delay of one epoch which
means<00:06:49.380><c> that</c><00:06:49.560><c> all</c><00:06:49.740><c> the</c><00:06:49.890><c> outputs</c><00:06:50.750><c> you</c><00:06:51.750><c> know</c><00:06:51.840><c> will</c>

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means that all the outputs you know will
 

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means that all the outputs you know will
be<00:06:52.200><c> produced</c><00:06:52.590><c> after</c><00:06:53.400><c> the</c><00:06:53.550><c> end</c><00:06:53.730><c> of</c><00:06:53.910><c> the</c><00:06:54.030><c> randall</c>

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be produced after the end of the randall
 

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be produced after the end of the randall
epoch<00:06:54.690><c> and</c><00:06:54.930><c> it</c><00:06:55.290><c> will</c><00:06:55.410><c> be</c><00:06:55.530><c> too</c><00:06:55.800><c> late</c><00:06:55.980><c> to</c><00:06:56.460><c> try</c><00:06:56.700><c> and</c>

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epoch and it will be too late to try and
 

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epoch and it will be too late to try and
bias<00:06:57.210><c> the</c><00:06:57.360><c> randomness</c><00:06:57.840><c> because</c><00:06:58.230><c> every</c><00:06:59.010><c> action</c>

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bias the randomness because every action
 

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bias the randomness because every action
that<00:06:59.400><c> has</c><00:06:59.610><c> been</c><00:06:59.760><c> made</c><00:06:59.940><c> is</c><00:07:00.150><c> now</c><00:07:00.300><c> binding</c><00:07:00.810><c> the</c>

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that has been made is now binding the
 

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that has been made is now binding the
the<00:07:01.260><c> blockchain</c><00:07:01.470><c> has</c><00:07:01.830><c> has</c><00:07:02.100><c> moved</c><00:07:03.090><c> forward</c>

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the blockchain has has moved forward
 

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the blockchain has has moved forward
okay<00:07:05.850><c> so</c><00:07:05.910><c> in</c><00:07:06.780><c> order</c><00:07:06.990><c> to</c><00:07:07.170><c> get</c><00:07:07.380><c> this</c><00:07:07.790><c> guaranteed</c>

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okay so in order to get this guaranteed
 

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okay so in order to get this guaranteed
delay<00:07:09.060><c> we</c><00:07:09.300><c> are</c><00:07:09.420><c> making</c><00:07:09.840><c> a</c><00:07:10.080><c> safety</c><00:07:10.620><c> assumption</c>

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delay we are making a safety assumption
 

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delay we are making a safety assumption
which<00:07:11.400><c> is</c><00:07:11.550><c> rooted</c><00:07:12.000><c> in</c><00:07:12.180><c> the</c><00:07:12.240><c> hardware</c><00:07:12.690><c> and</c>

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which is rooted in the hardware and
 

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which is rooted in the hardware and
specifically<00:07:14.310><c> we</c><00:07:14.970><c> want</c><00:07:15.330><c> to</c><00:07:15.810><c> prevent</c><00:07:16.440><c> an</c>

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specifically we want to prevent an
 

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specifically we want to prevent an
attacker<00:07:17.640><c> even</c><00:07:17.940><c> an</c><00:07:18.300><c> attacker</c><00:07:18.630><c> with</c><00:07:18.840><c> a</c><00:07:18.870><c> huge</c>

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attacker even an attacker with a huge
 

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attacker even an attacker with a huge
budget<00:07:19.470><c> to</c><00:07:20.310><c> be</c><00:07:20.430><c> able</c><00:07:20.550><c> to</c><00:07:20.730><c> build</c><00:07:21.120><c> specialized</c>

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budget to be able to build specialized
 

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budget to be able to build specialized
hardware<00:07:22.410><c> which</c><00:07:22.980><c> is</c><00:07:23.130><c> significantly</c><00:07:23.820><c> faster</c>

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hardware which is significantly faster
 

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hardware which is significantly faster
than<00:07:24.450><c> what</c><00:07:25.440><c> can</c><00:07:26.160><c> be</c><00:07:26.220><c> done</c><00:07:26.520><c> on</c><00:07:26.790><c> the</c><00:07:27.090><c> commodity</c>

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than what can be done on the commodity
 

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than what can be done on the commodity
hardware<00:07:28.380><c> so</c><00:07:28.650><c> the</c><00:07:29.340><c> speed</c><00:07:29.670><c> at</c><00:07:29.820><c> which</c><00:07:29.850><c> you</c>

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hardware so the speed at which you
 

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hardware so the speed at which you
compute<00:07:30.660><c> the</c><00:07:30.840><c> vdf</c><00:07:31.350><c> the</c><00:07:31.590><c> function</c><00:07:31.950><c> is</c><00:07:32.100><c> going</c><00:07:32.220><c> to</c>

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compute the vdf the function is going to
 

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compute the vdf the function is going to
depend<00:07:32.460><c> on</c><00:07:32.790><c> the</c><00:07:32.850><c> hole</c><00:07:33.000><c> that</c><00:07:33.120><c> you</c><00:07:33.180><c> have</c><00:07:33.480><c> and</c>

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depend on the hole that you have and
 

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depend on the hole that you have and
basically<00:07:34.590><c> we</c><00:07:34.740><c> want</c><00:07:34.980><c> the</c><00:07:35.160><c> good</c><00:07:35.310><c> guys</c><00:07:35.720><c> to</c><00:07:36.720><c> be</c>

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basically we want the good guys to be
 

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basically we want the good guys to be
not<00:07:37.290><c> too</c><00:07:37.500><c> bad</c><00:07:37.740><c> relative</c><00:07:38.280><c> to</c><00:07:38.460><c> the</c><00:07:38.550><c> bad</c><00:07:38.700><c> guys</c><00:07:38.910><c> and</c>

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not too bad relative to the bad guys and
 

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not too bad relative to the bad guys and
in<00:07:39.840><c> particular</c><00:07:40.700><c> we</c><00:07:41.700><c> have</c><00:07:41.940><c> this</c><00:07:42.210><c> Emacs</c>

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in particular we have this Emacs
 

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in particular we have this Emacs
protocol<00:07:43.560><c> parameter</c><00:07:44.130><c> the</c><00:07:44.310><c> maximum</c><00:07:44.880><c> speed</c>

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protocol parameter the maximum speed
 

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protocol parameter the maximum speed
advantage<00:07:45.690><c> that</c><00:07:46.020><c> an</c><00:07:46.110><c> attacker</c><00:07:46.410><c> can</c><00:07:46.620><c> have</c><00:07:47.810><c> and</c>

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advantage that an attacker can have and
 

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advantage that an attacker can have and
for<00:07:48.990><c> example</c><00:07:49.170><c> we</c><00:07:49.350><c> can</c><00:07:49.500><c> set</c><00:07:49.650><c> it</c><00:07:49.770><c> to</c><00:07:49.800><c> ten</c><00:07:50.100><c> and</c><00:07:50.310><c> the</c>

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for example we can set it to ten and the
 

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for example we can set it to ten and the
strategy<00:07:51.930><c> that</c><00:07:52.080><c> the</c><00:07:52.200><c> firm</c><00:07:52.440><c> foundation</c><00:07:52.620><c> is</c>

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strategy that the firm foundation is
 

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strategy that the firm foundation is
taking<00:07:53.520><c> is</c><00:07:55.760><c> actually</c><00:07:56.760><c> to</c><00:07:56.940><c> go</c><00:07:57.150><c> ahead</c><00:07:57.390><c> and</c><00:07:57.570><c> build</c>

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taking is actually to go ahead and build
 

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taking is actually to go ahead and build
the<00:07:58.020><c> best</c><00:07:58.230><c> ASIC</c><00:07:58.800><c> that</c><00:07:59.010><c> we</c><00:07:59.130><c> can</c><00:07:59.810><c> and</c><00:08:00.810><c> give</c><00:08:01.170><c> it</c>

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the best ASIC that we can and give it
 

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the best ASIC that we can and give it
away<00:08:01.380><c> to</c><00:08:01.530><c> the</c><00:08:01.800><c> world</c><00:08:02.000><c> so</c><00:08:03.000><c> that</c><00:08:03.180><c> the</c><00:08:03.450><c> the</c><00:08:03.780><c> the</c>

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away to the world so that the the the
 

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away to the world so that the the the
baseline<00:08:04.590><c> for</c><00:08:04.830><c> the</c><00:08:04.890><c> commodity</c><00:08:05.370><c> hardware</c><00:08:05.760><c> is</c>

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baseline for the commodity hardware is
 

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baseline for the commodity hardware is
actually<00:08:06.150><c> pretty</c><00:08:06.330><c> good</c><00:08:06.570><c> so</c><00:08:07.260><c> that</c><00:08:07.470><c> we</c><00:08:07.770><c> can</c>

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actually pretty good so that we can
 

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actually pretty good so that we can
simultaneously<00:08:09.210><c> have</c><00:08:09.450><c> a</c><00:08:09.480><c> very</c><00:08:09.780><c> conservative</c>

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simultaneously have a very conservative
 

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simultaneously have a very conservative
Emacs<00:08:11.150><c> but</c><00:08:12.150><c> at</c><00:08:12.240><c> the</c><00:08:12.330><c> same</c><00:08:12.510><c> time</c><00:08:12.780><c> have</c><00:08:13.170><c> a</c>

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Emacs but at the same time have a
 

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Emacs but at the same time have a
reasonably<00:08:14.040><c> small</c><00:08:14.100><c> Emacs</c><00:08:16.790><c> okay</c><00:08:17.790><c> we</c><00:08:18.360><c> also</c><00:08:18.480><c> have</c>

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reasonably small Emacs okay we also have
 

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reasonably small Emacs okay we also have
a<00:08:19.230><c> live</c><00:08:19.800><c> Ness</c><00:08:20.010><c> assumption</c><00:08:20.460><c> so</c><00:08:20.700><c> we</c><00:08:21.270><c> need</c><00:08:21.540><c> at</c>

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a live Ness assumption so we need at
 

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a live Ness assumption so we need at
least<00:08:21.810><c> one</c><00:08:22.560><c> person</c><00:08:22.800><c> in</c><00:08:23.220><c> the</c><00:08:23.310><c> whole</c><00:08:23.430><c> world</c>

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least one person in the whole world
 

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least one person in the whole world
to<00:08:24.420><c> be</c><00:08:24.540><c> running</c><00:08:24.840><c> the</c><00:08:25.140><c> commodity</c><00:08:25.650><c> hardware</c><00:08:26.900><c> and</c>

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to be running the commodity hardware and
 

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to be running the commodity hardware and
the<00:08:30.240><c> strategy</c><00:08:30.630><c> of</c><00:08:30.720><c> the</c><00:08:30.810><c> film</c><00:08:30.990><c> foundation</c><00:08:31.470><c> here</c>

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the strategy of the film foundation here
 

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the strategy of the film foundation here
is<00:08:31.830><c> basically</c><00:08:32.190><c> to</c><00:08:32.550><c> build</c><00:08:32.730><c> thousands</c><00:08:33.390><c> of</c><00:08:33.540><c> rigs</c>

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is basically to build thousands of rigs
 

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is basically to build thousands of rigs
and<00:08:34.110><c> give</c><00:08:34.950><c> them</c><00:08:35.100><c> away</c><00:08:35.250><c> to</c><00:08:35.400><c> the</c><00:08:35.610><c> community</c><00:08:36.090><c> for</c>

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and give them away to the community for
 

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and give them away to the community for
free<00:08:36.830><c> give</c><00:08:37.830><c> them</c><00:08:38.010><c> a</c><00:08:38.040><c> way</c><00:08:38.190><c> to</c><00:08:38.250><c> come</c><00:08:38.520><c> if</c><00:08:38.700><c> in</c>

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free give them a way to come if in
 

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free give them a way to come if in
community<00:08:39.210><c> but</c><00:08:39.330><c> also</c><00:08:39.650><c> beyond</c><00:08:40.650><c> that</c><00:08:40.880><c> for</c>

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community but also beyond that for
 

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community but also beyond that for
example<00:08:42.300><c> two</c><00:08:42.480><c> to</c><00:08:42.720><c> two</c><00:08:42.900><c> third</c><00:08:43.080><c> parties</c><00:08:43.850><c> and</c><00:08:44.930><c> if</c>

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example two to two third parties and if
 

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example two to two third parties and if
at<00:08:46.140><c> least</c><00:08:46.350><c> one</c><00:08:46.740><c> of</c><00:08:47.010><c> these</c><00:08:47.280><c> pieces</c><00:08:47.550><c> of</c><00:08:47.670><c> hardware</c>

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at least one of these pieces of hardware
 

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at least one of these pieces of hardware
stays<00:08:49.110><c> online</c><00:08:49.290><c> then</c>

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stays online then
 

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stays online then
okay<00:08:52.500><c> so</c><00:08:52.560><c> we</c><00:08:53.370><c> have</c><00:08:53.670><c> the</c><00:08:54.060><c> commodity</c><00:08:54.810><c> hardware</c>

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okay so we have the commodity hardware
 

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okay so we have the commodity hardware
and<00:08:55.440><c> we</c><00:08:55.560><c> have</c><00:08:55.740><c> this</c><00:08:55.890><c> a</c><00:08:56.040><c> max</c><00:08:56.370><c> assumption</c><00:08:57.000><c> now</c>

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and we have this a max assumption now
 

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and we have this a max assumption now
it's<00:08:57.839><c> very</c><00:08:58.019><c> easy</c><00:08:58.290><c> to</c><00:08:58.740><c> have</c><00:08:59.250><c> a</c><00:08:59.550><c> guaranteed</c>

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it's very easy to have a guaranteed
 

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it's very easy to have a guaranteed
delay<00:09:00.540><c> of</c><00:09:00.720><c> one</c><00:09:00.959><c> epoch</c><00:09:01.350><c> all</c><00:09:01.740><c> you</c><00:09:02.130><c> need</c><00:09:02.279><c> to</c><00:09:02.430><c> do</c><00:09:02.579><c> is</c>

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delay of one epoch all you need to do is
 

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delay of one epoch all you need to do is
target<00:09:05.750><c> evaluation</c><00:09:06.750><c> period</c><00:09:07.019><c> of</c><00:09:07.350><c> a</c><00:09:07.500><c> max</c><00:09:07.860><c> epochs</c>

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target evaluation period of a max epochs
 

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target evaluation period of a max epochs
and<00:09:08.550><c> the</c><00:09:08.760><c> attacker</c><00:09:09.089><c> will</c><00:09:09.360><c> only</c><00:09:09.540><c> be</c><00:09:09.750><c> able</c><00:09:09.839><c> to</c>

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and the attacker will only be able to
 

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and the attacker will only be able to
shrink<00:09:10.350><c> that</c><00:09:10.440><c> down</c><00:09:10.500><c> to</c><00:09:11.339><c> nothing</c><00:09:11.730><c> less</c><00:09:11.970><c> than</c><00:09:12.269><c> 1</c>

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shrink that down to nothing less than 1
 

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shrink that down to nothing less than 1
Network<00:09:12.959><c> and</c><00:09:14.660><c> this</c><00:09:15.660><c> is</c><00:09:15.839><c> the</c><00:09:16.050><c> the</c><00:09:16.649><c> whole</c><00:09:16.890><c> scheme</c>

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Network and this is the the whole scheme
 

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Network and this is the the whole scheme
basically<00:09:17.940><c> so</c><00:09:18.329><c> we</c><00:09:18.450><c> have</c><00:09:18.660><c> part</c><00:09:19.260><c> 1</c><00:09:19.529><c> the</c><00:09:20.310><c> random</c>

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basically so we have part 1 the random
 

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basically so we have part 1 the random
mixing<00:09:21.089><c> process</c><00:09:21.540><c> produces</c><00:09:22.140><c> bias</c><00:09:22.440><c> table</c>

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mixing process produces bias table
 

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mixing process produces bias table
entropy<00:09:23.480><c> this</c><00:09:24.480><c> is</c><00:09:25.320><c> taken</c><00:09:25.860><c> by</c><00:09:26.070><c> the</c><00:09:26.130><c> vdf</c>

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entropy this is taken by the vdf
 

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entropy this is taken by the vdf
evaluators<00:09:27.420><c> we</c><00:09:27.660><c> need</c><00:09:27.779><c> at</c><00:09:27.930><c> least</c><00:09:27.959><c> one</c><00:09:28.410><c> in</c><00:09:28.589><c> the</c>

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evaluators we need at least one in the
 

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evaluators we need at least one in the
world<00:09:28.890><c> to</c><00:09:29.070><c> do</c><00:09:29.430><c> that</c><00:09:29.640><c> they</c><00:09:30.300><c> will</c><00:09:30.540><c> start</c><00:09:30.990><c> the</c>

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world to do that they will start the
 

00:09:31.110 --> 00:09:33.290 align:start position:0%
world to do that they will start the
number-crunching<00:09:31.670><c> that</c><00:09:32.670><c> was</c><00:09:32.850><c> going</c><00:09:33.060><c> to</c><00:09:33.120><c> take</c>

00:09:33.290 --> 00:09:33.300 align:start position:0%
number-crunching that was going to take
 

00:09:33.300 --> 00:09:35.420 align:start position:0%
number-crunching that was going to take
a<00:09:33.329><c> bunch</c><00:09:34.050><c> of</c><00:09:34.170><c> time</c><00:09:34.440><c> about</c><00:09:34.769><c> three</c><00:09:35.070><c> hours</c>

00:09:35.420 --> 00:09:35.430 align:start position:0%
a bunch of time about three hours
 

00:09:35.430 --> 00:09:39.050 align:start position:0%
a bunch of time about three hours
and<00:09:35.640><c> then</c><00:09:36.240><c> after</c><00:09:36.839><c> three</c><00:09:36.990><c> hours</c><00:09:37.079><c> pops</c><00:09:37.709><c> out</c><00:09:38.060><c> the</c>

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and then after three hours pops out the
 

00:09:39.060 --> 00:09:41.180 align:start position:0%
and then after three hours pops out the
unbiased<00:09:39.420><c> ball</c><00:09:39.779><c> randomness</c><00:09:40.260><c> and</c><00:09:40.470><c> then</c><00:09:41.010><c> we</c>

00:09:41.180 --> 00:09:41.190 align:start position:0%
unbiased ball randomness and then we
 

00:09:41.190 --> 00:09:44.720 align:start position:0%
unbiased ball randomness and then we
need<00:09:41.519><c> a</c><00:09:41.910><c> 1</c><00:09:42.570><c> a</c><00:09:42.750><c> poor</c><00:09:42.990><c> conclusion</c><00:09:43.170><c> buffer</c><00:09:43.980><c> for</c>

00:09:44.720 --> 00:09:44.730 align:start position:0%
need a 1 a poor conclusion buffer for
 

00:09:44.730 --> 00:09:47.150 align:start position:0%
need a 1 a poor conclusion buffer for
the<00:09:44.910><c> randomness</c><00:09:45.420><c> to</c><00:09:45.600><c> come</c><00:09:45.839><c> back</c><00:09:46.019><c> on</c><00:09:46.260><c> chain</c><00:09:46.560><c> and</c>

00:09:47.150 --> 00:09:47.160 align:start position:0%
the randomness to come back on chain and
 

00:09:47.160 --> 00:09:49.280 align:start position:0%
the randomness to come back on chain and
again<00:09:47.670><c> you</c><00:09:48.180><c> know</c><00:09:48.269><c> within</c><00:09:48.570><c> one</c><00:09:48.750><c> network</c><00:09:49.110><c> we</c>

00:09:49.280 --> 00:09:49.290 align:start position:0%
again you know within one network we
 

00:09:49.290 --> 00:09:50.449 align:start position:0%
again you know within one network we
assuming<00:09:49.680><c> that</c><00:09:49.829><c> there's</c><00:09:49.980><c> at</c><00:09:50.070><c> least</c><00:09:50.100><c> one</c>

00:09:50.449 --> 00:09:50.459 align:start position:0%
assuming that there's at least one
 

00:09:50.459 --> 00:09:52.699 align:start position:0%
assuming that there's at least one
honest<00:09:50.820><c> participant</c><00:09:51.420><c> and</c><00:09:51.630><c> that</c><00:09:52.200><c> participant</c>

00:09:52.699 --> 00:09:52.709 align:start position:0%
honest participant and that participant
 

00:09:52.709 --> 00:09:57.009 align:start position:0%
honest participant and that participant
will<00:09:52.890><c> make</c><00:09:53.040><c> sure</c><00:09:53.220><c> that</c><00:09:53.339><c> it's</c><00:09:53.550><c> on</c><00:09:53.779><c> on</c><00:09:54.779><c> chain</c><00:09:54.990><c> and</c>

00:09:57.009 --> 00:09:57.019 align:start position:0%
will make sure that it's on on chain and
 

00:09:57.019 --> 00:09:59.120 align:start position:0%
will make sure that it's on on chain and
what<00:09:58.019><c> we</c><00:09:58.140><c> do</c><00:09:58.320><c> is</c><00:09:58.470><c> we</c><00:09:58.620><c> basically</c><00:09:58.769><c> have</c><00:09:59.100><c> a</c>

00:09:59.120 --> 00:09:59.130 align:start position:0%
what we do is we basically have a
 

00:09:59.130 --> 00:10:01.730 align:start position:0%
what we do is we basically have a
recursive<00:09:59.550><c> construction</c><00:10:00.329><c> so</c><00:10:00.630><c> we</c><00:10:01.140><c> use</c><00:10:01.440><c> the</c>

00:10:01.730 --> 00:10:01.740 align:start position:0%
recursive construction so we use the
 

00:10:01.740 --> 00:10:03.980 align:start position:0%
recursive construction so we use the
strong<00:10:02.040><c> randomness</c><00:10:02.670><c> the</c><00:10:03.329><c> unbiased</c><00:10:03.660><c> ball</c>

00:10:03.980 --> 00:10:03.990 align:start position:0%
strong randomness the unbiased ball
 

00:10:03.990 --> 00:10:07.810 align:start position:0%
strong randomness the unbiased ball
randomness<00:10:04.500><c> to</c><00:10:04.949><c> reseed</c><00:10:05.579><c> the</c><00:10:06.180><c> next</c><00:10:06.529><c> 128</c>

00:10:07.810 --> 00:10:07.820 align:start position:0%
randomness to reseed the next 128
 

00:10:07.820 --> 00:10:11.930 align:start position:0%
randomness to reseed the next 128
proposes<00:10:08.820><c> and</c><00:10:10.310><c> also</c><00:10:11.310><c> another</c><00:10:11.519><c> thing</c><00:10:11.699><c> that</c><00:10:11.850><c> we</c>

00:10:11.930 --> 00:10:11.940 align:start position:0%
proposes and also another thing that we
 

00:10:11.940 --> 00:10:15.439 align:start position:0%
proposes and also another thing that we
want<00:10:12.180><c> is</c><00:10:12.360><c> we</c><00:10:12.870><c> want</c><00:10:12.899><c> a</c><00:10:13.860><c> new</c><00:10:14.579><c> random</c><00:10:14.850><c> number</c><00:10:15.029><c> at</c>

00:10:15.439 --> 00:10:15.449 align:start position:0%
want is we want a new random number at
 

00:10:15.449 --> 00:10:17.060 align:start position:0%
want is we want a new random number at
every<00:10:15.810><c> epoch</c><00:10:16.199><c> you</c><00:10:16.410><c> know</c><00:10:16.709><c> we</c><00:10:16.829><c> want</c><00:10:17.010><c> a</c>

00:10:17.060 --> 00:10:17.070 align:start position:0%
every epoch you know we want a
 

00:10:17.070 --> 00:10:19.730 align:start position:0%
every epoch you know we want a
reasonable<00:10:17.430><c> reasonably</c><00:10:18.240><c> fast</c><00:10:18.589><c> generation</c><00:10:19.589><c> of</c>

00:10:19.730 --> 00:10:19.740 align:start position:0%
reasonable reasonably fast generation of
 

00:10:19.740 --> 00:10:21.259 align:start position:0%
reasonable reasonably fast generation of
these<00:10:19.920><c> things</c><00:10:20.160><c> and</c><00:10:20.370><c> so</c><00:10:20.790><c> we're</c><00:10:20.940><c> going</c><00:10:21.029><c> to</c><00:10:21.120><c> have</c>

00:10:21.259 --> 00:10:21.269 align:start position:0%
these things and so we're going to have
 

00:10:21.269 --> 00:10:23.389 align:start position:0%
these things and so we're going to have
parallel<00:10:21.720><c> randomness</c><00:10:22.410><c> beacons</c><00:10:22.829><c> and</c><00:10:23.040><c> they're</c>

00:10:23.389 --> 00:10:23.399 align:start position:0%
parallel randomness beacons and they're
 

00:10:23.399 --> 00:10:25.730 align:start position:0%
parallel randomness beacons and they're
going<00:10:23.490><c> to</c><00:10:23.579><c> be</c><00:10:23.640><c> staggered</c><00:10:24.269><c> in</c><00:10:25.110><c> this</c><00:10:25.320><c> fashion</c>

00:10:25.730 --> 00:10:25.740 align:start position:0%
going to be staggered in this fashion
 

00:10:25.740 --> 00:10:30.319 align:start position:0%
going to be staggered in this fashion
okay<00:10:27.649><c> so</c><00:10:28.649><c> that's</c><00:10:28.890><c> it</c><00:10:29.070><c> for</c><00:10:29.100><c> the</c><00:10:29.459><c> randomness</c>

00:10:30.319 --> 00:10:30.329 align:start position:0%
okay so that's it for the randomness
 

00:10:30.329 --> 00:10:32.630 align:start position:0%
okay so that's it for the randomness
beacon<00:10:30.720><c> now</c><00:10:31.230><c> let's</c><00:10:31.500><c> have</c><00:10:31.649><c> a</c><00:10:31.709><c> look</c><00:10:31.949><c> how</c><00:10:32.339><c> do</c><00:10:32.399><c> we</c>

00:10:32.630 --> 00:10:32.640 align:start position:0%
beacon now let's have a look how do we
 

00:10:32.640 --> 00:10:39.009 align:start position:0%
beacon now let's have a look how do we
actually<00:10:32.850><c> go</c><00:10:33.180><c> about</c><00:10:33.420><c> instantiating</c><00:10:34.459><c> vdf</c><00:10:36.800><c> so</c>

00:10:39.009 --> 00:10:39.019 align:start position:0%
actually go about instantiating vdf so
 

00:10:39.019 --> 00:10:42.949 align:start position:0%
actually go about instantiating vdf so
the<00:10:40.019><c> vdf</c><00:10:40.440><c> they</c><00:10:40.980><c> tend</c><00:10:41.279><c> to</c><00:10:41.339><c> be</c><00:10:41.519><c> built</c><00:10:41.730><c> as</c><00:10:42.000><c> a</c><00:10:42.060><c> basic</c>

00:10:42.949 --> 00:10:42.959 align:start position:0%
the vdf they tend to be built as a basic
 

00:10:42.959 --> 00:10:44.990 align:start position:0%
the vdf they tend to be built as a basic
building<00:10:43.140><c> block</c><00:10:43.350><c> around</c><00:10:43.980><c> and</c><00:10:44.279><c> you</c><00:10:44.640><c> keep</c><00:10:44.850><c> on</c>

00:10:44.990 --> 00:10:45.000 align:start position:0%
building block around and you keep on
 

00:10:45.000 --> 00:10:46.519 align:start position:0%
building block around and you keep on
iterating<00:10:45.209><c> this</c><00:10:45.750><c> round</c><00:10:46.019><c> many</c><00:10:46.170><c> many</c><00:10:46.350><c> many</c>

00:10:46.519 --> 00:10:46.529 align:start position:0%
iterating this round many many many
 

00:10:46.529 --> 00:10:48.590 align:start position:0%
iterating this round many many many
times<00:10:46.829><c> and</c><00:10:47.070><c> so</c><00:10:47.790><c> the</c><00:10:47.910><c> basic</c><00:10:48.029><c> building</c><00:10:48.420><c> block</c>

00:10:48.590 --> 00:10:48.600 align:start position:0%
times and so the basic building block
 

00:10:48.600 --> 00:10:51.079 align:start position:0%
times and so the basic building block
that<00:10:48.750><c> we</c><00:10:48.839><c> have</c><00:10:49.110><c> is</c><00:10:49.440><c> the</c><00:10:50.070><c> squaring</c><00:10:50.370><c> function</c><00:10:50.519><c> so</c>

00:10:51.079 --> 00:10:51.089 align:start position:0%
that we have is the squaring function so
 

00:10:51.089 --> 00:10:53.030 align:start position:0%
that we have is the squaring function so
you<00:10:51.540><c> take</c><00:10:51.750><c> a</c><00:10:51.779><c> number</c><00:10:52.019><c> you</c><00:10:52.529><c> multiply</c><00:10:52.920><c> it</c><00:10:52.949><c> by</c>

00:10:53.030 --> 00:10:53.040 align:start position:0%
you take a number you multiply it by
 

00:10:53.040 --> 00:10:54.050 align:start position:0%
you take a number you multiply it by
itself<00:10:53.370><c> that's</c><00:10:53.699><c> it</c>

00:10:54.050 --> 00:10:54.060 align:start position:0%
itself that's it
 

00:10:54.060 --> 00:10:58.430 align:start position:0%
itself that's it
and<00:10:54.180><c> then</c><00:10:54.449><c> you</c><00:10:54.660><c> reduce</c><00:10:55.610><c> modulo</c><00:10:56.610><c> n</c><00:10:56.959><c> where</c><00:10:57.959><c> n</c><00:10:58.170><c> is</c>

00:10:58.430 --> 00:10:58.440 align:start position:0%
and then you reduce modulo n where n is
 

00:10:58.440 --> 00:11:02.000 align:start position:0%
and then you reduce modulo n where n is
an<00:10:58.829><c> unfashionable</c><00:10:59.870><c> rsn</c><00:11:00.870><c> modulus</c><00:11:01.260><c> so</c><00:11:01.680><c> no</c><00:11:01.860><c> one</c>

00:11:02.000 --> 00:11:02.010 align:start position:0%
an unfashionable rsn modulus so no one
 

00:11:02.010 --> 00:11:03.620 align:start position:0%
an unfashionable rsn modulus so no one
knows<00:11:02.190><c> the</c><00:11:02.370><c> factorization</c>

00:11:03.620 --> 00:11:03.630 align:start position:0%
knows the factorization
 

00:11:03.630 --> 00:11:06.980 align:start position:0%
knows the factorization
and<00:11:03.720><c> and</c><00:11:04.410><c> basically</c><00:11:05.370><c> you</c><00:11:05.850><c> you</c><00:11:06.329><c> do</c><00:11:06.509><c> multiple</c>

00:11:06.980 --> 00:11:06.990 align:start position:0%
and and basically you you do multiple
 

00:11:06.990 --> 00:11:11.329 align:start position:0%
and and basically you you do multiple
squarings<00:11:08.810><c> you</c><00:11:09.810><c> do</c><00:11:09.990><c> t-square</c><00:11:10.709><c> rings</c><00:11:10.889><c> where</c><00:11:11.100><c> T</c>

00:11:11.329 --> 00:11:11.339 align:start position:0%
squarings you do t-square rings where T
 

00:11:11.339 --> 00:11:13.009 align:start position:0%
squarings you do t-square rings where T
is<00:11:11.399><c> going</c><00:11:11.670><c> to</c><00:11:11.759><c> be</c><00:11:11.880><c> your</c><00:11:12.029><c> time</c><00:11:12.240><c> parameter</c><00:11:12.720><c> and</c>

00:11:13.009 --> 00:11:13.019 align:start position:0%
is going to be your time parameter and
 

00:11:13.019 --> 00:11:15.920 align:start position:0%
is going to be your time parameter and
the<00:11:13.800><c> the</c><00:11:14.069><c> output</c><00:11:14.430><c> is</c><00:11:14.550><c> going</c><00:11:14.670><c> to</c><00:11:14.790><c> be</c><00:11:14.880><c> X</c><00:11:15.449><c> to</c><00:11:15.720><c> the</c>

00:11:15.920 --> 00:11:15.930 align:start position:0%
the the output is going to be X to the
 

00:11:15.930 --> 00:11:20.480 align:start position:0%
the the output is going to be X to the
two<00:11:16.230><c> to</c><00:11:16.440><c> the</c><00:11:16.560><c> T</c><00:11:18.319><c> okay</c><00:11:19.319><c> so</c><00:11:19.380><c> let's</c><00:11:19.709><c> go</c><00:11:20.279><c> through</c>

00:11:20.480 --> 00:11:20.490 align:start position:0%
two to the T okay so let's go through
 

00:11:20.490 --> 00:11:23.269 align:start position:0%
two to the T okay so let's go through
the<00:11:20.699><c> whole</c><00:11:20.940><c> vdf</c><00:11:21.389><c> scheme</c><00:11:21.690><c> in</c><00:11:21.839><c> one</c><00:11:22.050><c> slide</c><00:11:22.350><c> super</c>

00:11:23.269 --> 00:11:23.279 align:start position:0%
the whole vdf scheme in one slide super
 

00:11:23.279 --> 00:11:26.840 align:start position:0%
the whole vdf scheme in one slide super
simple<00:11:24.050><c> so</c><00:11:25.050><c> the</c><00:11:25.500><c> output</c><00:11:25.860><c> as</c><00:11:26.009><c> I</c><00:11:26.130><c> said</c><00:11:26.370><c> is</c><00:11:26.639><c> going</c>

00:11:26.840 --> 00:11:26.850 align:start position:0%
simple so the output as I said is going
 

00:11:26.850 --> 00:11:31.629 align:start position:0%
simple so the output as I said is going
to<00:11:27.000><c> be</c><00:11:27.060><c> X</c><00:11:27.389><c> to</c><00:11:27.810><c> the</c><00:11:27.899><c> 3</c><00:11:28.139><c> to</c><00:11:28.290><c> the</c><00:11:28.319><c> T</c><00:11:28.589><c> mod</c><00:11:29.250><c> n</c><00:11:29.459><c> and</c><00:11:30.350><c> then</c>

00:11:31.629 --> 00:11:31.639 align:start position:0%
to be X to the 3 to the T mod n and then
 

00:11:31.639 --> 00:11:35.059 align:start position:0%
to be X to the 3 to the T mod n and then
we<00:11:32.639><c> want</c><00:11:32.930><c> to</c><00:11:33.930><c> build</c><00:11:34.139><c> the</c><00:11:34.290><c> proof</c><00:11:34.529><c> so</c><00:11:34.769><c> the</c><00:11:34.889><c> proof</c>

00:11:35.059 --> 00:11:35.069 align:start position:0%
we want to build the proof so the proof
 

00:11:35.069 --> 00:11:38.389 align:start position:0%
we want to build the proof so the proof
is<00:11:35.420><c> going</c><00:11:36.420><c> to</c><00:11:36.540><c> be</c><00:11:36.660><c> based</c><00:11:36.899><c> on</c><00:11:37.110><c> a</c><00:11:37.399><c> challenge</c>

00:11:38.389 --> 00:11:38.399 align:start position:0%
is going to be based on a challenge
 

00:11:38.399 --> 00:11:41.600 align:start position:0%
is going to be based on a challenge
response<00:11:38.699><c> scheme</c><00:11:39.329><c> where</c><00:11:39.600><c> a</c><00:11:40.500><c> random</c><00:11:41.250><c> challenge</c>

00:11:41.600 --> 00:11:41.610 align:start position:0%
response scheme where a random challenge
 

00:11:41.610 --> 00:11:46.309 align:start position:0%
response scheme where a random challenge
will<00:11:41.880><c> be</c><00:11:42.440><c> given</c><00:11:43.440><c> to</c><00:11:44.569><c> to</c><00:11:45.569><c> the</c><00:11:45.660><c> person</c><00:11:45.990><c> wanting</c>

00:11:46.309 --> 00:11:46.319 align:start position:0%
will be given to to the person wanting
 

00:11:46.319 --> 00:11:48.170 align:start position:0%
will be given to to the person wanting
to<00:11:46.440><c> build</c><00:11:46.560><c> the</c><00:11:46.740><c> proof</c><00:11:46.980><c> and</c><00:11:47.220><c> then</c><00:11:47.819><c> they</c><00:11:48.029><c> will</c>

00:11:48.170 --> 00:11:48.180 align:start position:0%
to build the proof and then they will
 

00:11:48.180 --> 00:11:52.519 align:start position:0%
to build the proof and then they will
build<00:11:48.420><c> this</c><00:11:48.540><c> proof</c><00:11:48.839><c> with</c><00:11:49.139><c> as</c><00:11:49.829><c> shown</c><00:11:51.199><c> and</c><00:11:52.199><c> you</c>

00:11:52.519 --> 00:11:52.529 align:start position:0%
build this proof with as shown and you
 

00:11:52.529 --> 00:11:53.809 align:start position:0%
build this proof with as shown and you
can<00:11:52.649><c> make</c><00:11:52.800><c> it</c><00:11:52.829><c> non</c><00:11:53.069><c> interactive</c><00:11:53.639><c> with</c><00:11:53.790><c> the</c>

00:11:53.809 --> 00:11:53.819 align:start position:0%
can make it non interactive with the
 

00:11:53.819 --> 00:11:56.840 align:start position:0%
can make it non interactive with the
theorem<00:11:54.509><c> your</c><00:11:54.720><c> scheme</c><00:11:54.990><c> and</c><00:11:55.670><c> then</c><00:11:56.670><c> the</c>

00:11:56.840 --> 00:11:56.850 align:start position:0%
theorem your scheme and then the
 

00:11:56.850 --> 00:11:58.910 align:start position:0%
theorem your scheme and then the
verification<00:11:57.540><c> is</c><00:11:57.779><c> just</c><00:11:58.440><c> checking</c><00:11:58.800><c> this</c>

00:11:58.910 --> 00:11:58.920 align:start position:0%
verification is just checking this
 

00:11:58.920 --> 00:12:01.879 align:start position:0%
verification is just checking this
equality<00:11:59.190><c> so</c><00:12:00.000><c> this</c><00:12:00.149><c> equality</c><00:12:00.389><c> is</c><00:12:00.839><c> very</c><00:12:01.529><c> fast</c>

00:12:01.879 --> 00:12:01.889 align:start position:0%
equality so this equality is very fast
 

00:12:01.889 --> 00:12:05.210 align:start position:0%
equality so this equality is very fast
to<00:12:02.100><c> check</c><00:12:02.339><c> it</c><00:12:02.759><c> takes</c><00:12:03.089><c> about</c><00:12:03.209><c> 1</c><00:12:03.540><c> millisecond</c><00:12:04.259><c> on</c>

00:12:05.210 --> 00:12:05.220 align:start position:0%
to check it takes about 1 millisecond on
 

00:12:05.220 --> 00:12:07.160 align:start position:0%
to check it takes about 1 millisecond on
a<00:12:05.279><c> single</c><00:12:05.639><c> call</c><00:12:05.880><c> and</c><00:12:06.149><c> it's</c><00:12:06.540><c> basically</c><00:12:06.870><c> two</c>

00:12:07.160 --> 00:12:07.170 align:start position:0%
a single call and it's basically two
 

00:12:07.170 --> 00:12:08.809 align:start position:0%
a single call and it's basically two
small<00:12:07.410><c> external</c><00:12:07.680><c> incisions</c><00:12:08.160><c> and</c><00:12:08.370><c> a</c>

00:12:08.809 --> 00:12:08.819 align:start position:0%
small external incisions and a
 

00:12:08.819 --> 00:12:12.290 align:start position:0%
small external incisions and a
multiplication<00:12:10.130><c> so</c><00:12:11.130><c> this</c><00:12:11.279><c> is</c><00:12:11.459><c> the</c><00:12:11.819><c> scheme</c><00:12:12.120><c> by</c>

00:12:12.290 --> 00:12:12.300 align:start position:0%
multiplication so this is the scheme by
 

00:12:12.300 --> 00:12:15.340 align:start position:0%
multiplication so this is the scheme by
Benjamin<00:12:12.750><c> Wesolowski</c><00:12:13.370><c> from</c><00:12:14.370><c> June</c><00:12:14.610><c> 2018</c>

00:12:15.340 --> 00:12:15.350 align:start position:0%
Benjamin Wesolowski from June 2018
 

00:12:15.350 --> 00:12:20.059 align:start position:0%
Benjamin Wesolowski from June 2018
extremely<00:12:16.350><c> nice</c><00:12:17.750><c> but</c><00:12:18.750><c> there</c><00:12:18.930><c> is</c><00:12:19.110><c> one</c>

00:12:20.059 --> 00:12:20.069 align:start position:0%
extremely nice but there is one
 

00:12:20.069 --> 00:12:22.699 align:start position:0%
extremely nice but there is one
important<00:12:20.970><c> detail</c><00:12:21.089><c> which</c><00:12:21.480><c> is</c><00:12:21.689><c> how</c><00:12:22.319><c> do</c><00:12:22.380><c> you</c>

00:12:22.699 --> 00:12:22.709 align:start position:0%
important detail which is how do you
 

00:12:22.709 --> 00:12:26.480 align:start position:0%
important detail which is how do you
generate<00:12:23.089><c> the</c><00:12:24.089><c> modulus</c><00:12:24.480><c> we</c><00:12:25.470><c> need</c><00:12:25.709><c> to</c><00:12:25.889><c> have</c><00:12:26.160><c> an</c>

00:12:26.480 --> 00:12:26.490 align:start position:0%
generate the modulus we need to have an
 

00:12:26.490 --> 00:12:30.139 align:start position:0%
generate the modulus we need to have an
RSA<00:12:27.209><c> modulus</c><00:12:27.660><c> which</c><00:12:28.439><c> no</c><00:12:28.860><c> one</c><00:12:29.040><c> can</c><00:12:29.250><c> factor</c><00:12:29.670><c> and</c>

00:12:30.139 --> 00:12:30.149 align:start position:0%
RSA modulus which no one can factor and
 

00:12:30.149 --> 00:12:32.720 align:start position:0%
RSA modulus which no one can factor and
so<00:12:30.410><c> there's</c><00:12:31.410><c> various</c><00:12:31.620><c> ways</c><00:12:31.709><c> to</c><00:12:31.920><c> get</c><00:12:32.430><c> such</c><00:12:32.699><c> a</c>

00:12:32.720 --> 00:12:32.730 align:start position:0%
so there's various ways to get such a
 

00:12:32.730 --> 00:12:35.720 align:start position:0%
so there's various ways to get such a
modulus<00:12:33.180><c> but</c><00:12:34.040><c> the</c><00:12:35.040><c> the</c><00:12:35.370><c> preferred</c><00:12:35.699><c> approach</c>

00:12:35.720 --> 00:12:35.730 align:start position:0%
modulus but the the preferred approach
 

00:12:35.730 --> 00:12:39.620 align:start position:0%
modulus but the the preferred approach
that<00:12:36.360><c> we're</c><00:12:36.540><c> looking</c><00:12:37.170><c> into</c><00:12:37.319><c> is</c><00:12:37.620><c> having</c><00:12:38.310><c> an</c><00:12:38.790><c> RSA</c>

00:12:39.620 --> 00:12:39.630 align:start position:0%
that we're looking into is having an RSA
 

00:12:39.630 --> 00:12:42.170 align:start position:0%
that we're looking into is having an RSA
ceremony<00:12:40.199><c> so</c><00:12:40.410><c> this</c><00:12:40.560><c> is</c><00:12:40.709><c> similar</c><00:12:41.430><c> to</c><00:12:41.759><c> what</c><00:12:41.939><c> z</c>

00:12:42.170 --> 00:12:42.180 align:start position:0%
ceremony so this is similar to what z
 

00:12:42.180 --> 00:12:44.179 align:start position:0%
ceremony so this is similar to what z
cash<00:12:42.420><c> did</c><00:12:42.720><c> with</c><00:12:42.990><c> the</c><00:12:43.079><c> powers</c><00:12:43.380><c> of</c><00:12:43.410><c> tau</c><00:12:43.740><c> so</c><00:12:44.130><c> you</c>

00:12:44.179 --> 00:12:44.189 align:start position:0%
cash did with the powers of tau so you
 

00:12:44.189 --> 00:12:46.550 align:start position:0%
cash did with the powers of tau so you
have<00:12:44.519><c> a</c><00:12:44.819><c> bunch</c><00:12:45.360><c> of</c><00:12:45.480><c> participants</c><00:12:46.139><c> for</c><00:12:46.199><c> example</c>

00:12:46.550 --> 00:12:46.560 align:start position:0%
have a bunch of participants for example
 

00:12:46.560 --> 00:12:50.019 align:start position:0%
have a bunch of participants for example
1,000<00:12:47.130><c> participants</c><00:12:47.370><c> and</c><00:12:47.959><c> they're</c><00:12:48.959><c> going</c><00:12:49.230><c> to</c>

00:12:50.019 --> 00:12:50.029 align:start position:0%
1,000 participants and they're going to
 

00:12:50.029 --> 00:12:52.069 align:start position:0%
1,000 participants and they're going to
participate<00:12:51.029><c> in</c><00:12:51.540><c> what's</c><00:12:51.720><c> called</c><00:12:51.959><c> a</c>

00:12:52.069 --> 00:12:52.079 align:start position:0%
participate in what's called a
 

00:12:52.079 --> 00:12:54.800 align:start position:0%
participate in what's called a
multi-party<00:12:52.920><c> computation</c><00:12:53.329><c> and</c><00:12:54.329><c> you</c><00:12:54.630><c> need</c>

00:12:54.800 --> 00:12:54.810 align:start position:0%
multi-party computation and you need
 

00:12:54.810 --> 00:12:57.350 align:start position:0%
multi-party computation and you need
just<00:12:54.839><c> one</c><00:12:55.230><c> of</c><00:12:55.380><c> them</c><00:12:55.529><c> to</c><00:12:55.769><c> be</c><00:12:55.889><c> honest</c><00:12:56.310><c> in</c><00:12:56.699><c> order</c>

00:12:57.350 --> 00:12:57.360 align:start position:0%
just one of them to be honest in order
 

00:12:57.360 --> 00:13:01.429 align:start position:0%
just one of them to be honest in order
for<00:12:57.959><c> the</c><00:12:58.110><c> output</c><00:12:58.860><c> which</c><00:12:59.130><c> is</c><00:12:59.399><c> a</c><00:13:00.329><c> 2,000</c><00:13:01.139><c> bit</c><00:13:01.230><c> RSA</c>

00:13:01.429 --> 00:13:01.439 align:start position:0%
for the output which is a 2,000 bit RSA
 

00:13:01.439 --> 00:13:03.939 align:start position:0%
for the output which is a 2,000 bit RSA
modulus<00:13:02.069><c> to</c><00:13:02.610><c> be</c><00:13:02.759><c> unfactored</c><00:13:03.209><c> izybelle</c>

00:13:03.939 --> 00:13:03.949 align:start position:0%
modulus to be unfactored izybelle
 

00:13:03.949 --> 00:13:05.650 align:start position:0%
modulus to be unfactored izybelle
bye-bye<00:13:04.949><c> everyone</c>

00:13:05.650 --> 00:13:05.660 align:start position:0%
bye-bye everyone
 

00:13:05.660 --> 00:13:08.629 align:start position:0%
bye-bye everyone
and<00:13:06.660><c> you</c><00:13:07.079><c> know</c><00:13:07.170><c> just</c><00:13:07.319><c> to</c><00:13:07.470><c> speed</c><00:13:07.709><c> things</c><00:13:07.889><c> up</c><00:13:08.130><c> we</c>

00:13:08.629 --> 00:13:08.639 align:start position:0%
and you know just to speed things up we
 

00:13:08.639 --> 00:13:10.370 align:start position:0%
and you know just to speed things up we
could<00:13:08.819><c> have</c><00:13:08.850><c> a</c><00:13:09.060><c> trustless</c><00:13:09.630><c> coordinator</c><00:13:10.170><c> in</c>

00:13:10.370 --> 00:13:10.380 align:start position:0%
could have a trustless coordinator in
 

00:13:10.380 --> 00:13:16.250 align:start position:0%
could have a trustless coordinator in
the<00:13:10.470><c> middle</c><00:13:10.769><c> as</c><00:13:11.730><c> shown</c><00:13:13.279><c> so</c><00:13:14.630><c> the</c><00:13:15.630><c> team</c><00:13:15.930><c> that</c><00:13:15.959><c> is</c>

00:13:16.250 --> 00:13:16.260 align:start position:0%
the middle as shown so the team that is
 

00:13:16.260 --> 00:13:17.210 align:start position:0%
the middle as shown so the team that is
working<00:13:16.410><c> on</c>

00:13:17.210 --> 00:13:17.220 align:start position:0%
working on
 

00:13:17.220 --> 00:13:20.389 align:start position:0%
working on
the<00:13:17.279><c> multi-party</c><00:13:17.939><c> computation</c><00:13:18.180><c> is</c><00:13:18.720><c> Leggero</c>

00:13:20.389 --> 00:13:20.399 align:start position:0%
the multi-party computation is Leggero
 

00:13:20.399 --> 00:13:23.090 align:start position:0%
the multi-party computation is Leggero
they're<00:13:21.000><c> experts</c><00:13:21.480><c> in</c><00:13:21.629><c> MPC's</c><00:13:22.199><c> and</c><00:13:22.949><c> they're</c>

00:13:23.090 --> 00:13:23.100 align:start position:0%
they're experts in MPC's and they're
 

00:13:23.100 --> 00:13:25.220 align:start position:0%
they're experts in MPC's and they're
from<00:13:23.279><c> a</c><00:13:23.310><c> couple</c><00:13:23.610><c> universities</c><00:13:24.149><c> and</c><00:13:24.420><c> this</c><00:13:25.019><c> is</c>

00:13:25.220 --> 00:13:25.230 align:start position:0%
from a couple universities and this is
 

00:13:25.230 --> 00:13:29.540 align:start position:0%
from a couple universities and this is
these<00:13:25.769><c> are</c><00:13:25.829><c> like</c><00:13:26.810><c> the</c><00:13:27.810><c> parameters</c><00:13:28.350><c> of</c><00:13:28.620><c> the</c><00:13:29.160><c> the</c>

00:13:29.540 --> 00:13:29.550 align:start position:0%
these are like the parameters of the the
 

00:13:29.550 --> 00:13:32.900 align:start position:0%
these are like the parameters of the the
ideal<00:13:31.040><c> multi-party</c><00:13:32.040><c> computation</c><00:13:32.279><c> that</c><00:13:32.639><c> the</c>

00:13:32.900 --> 00:13:32.910 align:start position:0%
ideal multi-party computation that the
 

00:13:32.910 --> 00:13:34.850 align:start position:0%
ideal multi-party computation that the
building<00:13:33.420><c> so</c><00:13:33.660><c> we're</c><00:13:34.259><c> looking</c><00:13:34.529><c> to</c><00:13:34.649><c> have</c><00:13:34.829><c> a</c>

00:13:34.850 --> 00:13:34.860 align:start position:0%
building so we're looking to have a
 

00:13:34.860 --> 00:13:36.590 align:start position:0%
building so we're looking to have a
thousand<00:13:35.399><c> participants</c><00:13:35.610><c> which</c><00:13:36.240><c> is</c><00:13:36.389><c> much</c>

00:13:36.590 --> 00:13:36.600 align:start position:0%
thousand participants which is much
 

00:13:36.600 --> 00:13:38.600 align:start position:0%
thousand participants which is much
bigger<00:13:36.810><c> than</c><00:13:37.170><c> the</c><00:13:37.439><c> Z</c><00:13:37.769><c> cache</c><00:13:37.980><c> that</c><00:13:38.339><c> they</c><00:13:38.459><c> only</c>

00:13:38.600 --> 00:13:38.610 align:start position:0%
bigger than the Z cache that they only
 

00:13:38.610 --> 00:13:41.749 align:start position:0%
bigger than the Z cache that they only
had<00:13:38.819><c> 88</c><00:13:39.389><c> participants</c><00:13:39.899><c> I</c><00:13:40.050><c> believe</c><00:13:40.759><c> we're</c>

00:13:41.749 --> 00:13:41.759 align:start position:0%
had 88 participants I believe we're
 

00:13:41.759 --> 00:13:43.720 align:start position:0%
had 88 participants I believe we're
looking<00:13:41.970><c> to</c><00:13:42.089><c> produce</c><00:13:42.240><c> a</c><00:13:42.689><c> modulus</c><00:13:43.079><c> of</c><00:13:43.259><c> size</c>

00:13:43.720 --> 00:13:43.730 align:start position:0%
looking to produce a modulus of size
 

00:13:43.730 --> 00:13:47.900 align:start position:0%
looking to produce a modulus of size
2,000<00:13:44.730><c> bits</c><00:13:45.410><c> its</c><00:13:46.410><c> L</c><00:13:46.740><c> minus</c><00:13:47.160><c> 1</c><00:13:47.399><c> maliciously</c>

00:13:47.900 --> 00:13:47.910 align:start position:0%
2,000 bits its L minus 1 maliciously
 

00:13:47.910 --> 00:13:49.519 align:start position:0%
2,000 bits its L minus 1 maliciously
secured<00:13:48.360><c> which</c><00:13:48.540><c> means</c><00:13:48.779><c> that</c><00:13:48.930><c> you</c><00:13:49.019><c> only</c><00:13:49.199><c> need</c>

00:13:49.519 --> 00:13:49.529 align:start position:0%
secured which means that you only need
 

00:13:49.529 --> 00:13:53.749 align:start position:0%
secured which means that you only need
one<00:13:49.889><c> honest</c><00:13:50.250><c> participant</c><00:13:50.879><c> to</c><00:13:51.209><c> be</c><00:13:51.329><c> there</c><00:13:52.759><c> one</c>

00:13:53.749 --> 00:13:53.759 align:start position:0%
one honest participant to be there one
 

00:13:53.759 --> 00:13:55.069 align:start position:0%
one honest participant to be there one
of<00:13:53.850><c> the</c><00:13:53.939><c> things</c><00:13:54.149><c> which</c><00:13:54.389><c> might</c><00:13:54.689><c> be</c><00:13:54.839><c> a</c><00:13:54.870><c> bit</c>

00:13:55.069 --> 00:13:55.079 align:start position:0%
of the things which might be a bit
 

00:13:55.079 --> 00:13:58.129 align:start position:0%
of the things which might be a bit
tricky<00:13:55.230><c> is</c><00:13:56.060><c> it's</c><00:13:57.060><c> a</c><00:13:57.209><c> synchronous</c><00:13:57.750><c> thing</c><00:13:57.959><c> so</c>

00:13:58.129 --> 00:13:58.139 align:start position:0%
tricky is it's a synchronous thing so
 

00:13:58.139 --> 00:14:00.199 align:start position:0%
tricky is it's a synchronous thing so
everyone<00:13:58.649><c> needs</c><00:13:58.800><c> to</c><00:13:58.949><c> be</c><00:13:59.069><c> online</c><00:13:59.279><c> at</c><00:13:59.790><c> the</c><00:13:59.850><c> same</c>

00:14:00.199 --> 00:14:00.209 align:start position:0%
everyone needs to be online at the same
 

00:14:00.209 --> 00:14:02.569 align:start position:0%
everyone needs to be online at the same
time<00:14:00.480><c> to</c><00:14:00.660><c> participate</c><00:14:00.930><c> the</c><00:14:01.920><c> good</c><00:14:02.100><c> news</c><00:14:02.370><c> is</c>

00:14:02.569 --> 00:14:02.579 align:start position:0%
time to participate the good news is
 

00:14:02.579 --> 00:14:04.460 align:start position:0%
time to participate the good news is
that<00:14:02.610><c> it's</c><00:14:02.910><c> only</c><00:14:03.120><c> a</c><00:14:03.389><c> one-time</c><00:14:04.019><c> thing</c><00:14:04.050><c> a</c>

00:14:04.460 --> 00:14:04.470 align:start position:0%
that it's only a one-time thing a
 

00:14:04.470 --> 00:14:07.400 align:start position:0%
that it's only a one-time thing a
one-time<00:14:04.949><c> setup</c><00:14:05.189><c> and</c><00:14:05.810><c> it</c><00:14:06.810><c> shouldn't</c><00:14:07.139><c> last</c><00:14:07.230><c> too</c>

00:14:07.400 --> 00:14:07.410 align:start position:0%
one-time setup and it shouldn't last too
 

00:14:07.410 --> 00:14:10.850 align:start position:0%
one-time setup and it shouldn't last too
long<00:14:07.529><c> it</c><00:14:07.860><c> should</c><00:14:08.009><c> last</c><00:14:08.160><c> about</c><00:14:08.339><c> 10</c><00:14:08.730><c> minutes</c><00:14:09.860><c> and</c>

00:14:10.850 --> 00:14:10.860 align:start position:0%
long it should last about 10 minutes and
 

00:14:10.860 --> 00:14:12.410 align:start position:0%
long it should last about 10 minutes and
part<00:14:11.129><c> of</c><00:14:11.160><c> the</c><00:14:11.250><c> reason</c><00:14:11.519><c> why</c><00:14:11.639><c> it's</c><00:14:11.850><c> so</c><00:14:12.000><c> short</c><00:14:12.269><c> is</c>

00:14:12.410 --> 00:14:12.420 align:start position:0%
part of the reason why it's so short is
 

00:14:12.420 --> 00:14:14.780 align:start position:0%
part of the reason why it's so short is
because<00:14:12.649><c> they</c><00:14:13.649><c> got</c><00:14:13.800><c> it</c><00:14:13.920><c> down</c><00:14:14.069><c> to</c><00:14:14.100><c> just</c><00:14:14.490><c> 20</c>

00:14:14.780 --> 00:14:14.790 align:start position:0%
because they got it down to just 20
 

00:14:14.790 --> 00:14:19.269 align:start position:0%
because they got it down to just 20
rounds<00:14:15.120><c> of</c><00:14:15.180><c> communication</c><00:14:17.389><c> okay</c><00:14:18.389><c> so</c><00:14:18.660><c> now</c><00:14:19.170><c> the</c>

00:14:19.269 --> 00:14:19.279 align:start position:0%
rounds of communication okay so now the
 

00:14:19.279 --> 00:14:23.540 align:start position:0%
rounds of communication okay so now the
the<00:14:20.279><c> last</c><00:14:20.970><c> piece</c><00:14:21.389><c> of</c><00:14:21.750><c> the</c><00:14:22.139><c> puzzle</c><00:14:22.529><c> and</c><00:14:22.769><c> the</c><00:14:23.189><c> vdf</c>

00:14:23.540 --> 00:14:23.550 align:start position:0%
the last piece of the puzzle and the vdf
 

00:14:23.550 --> 00:14:28.990 align:start position:0%
the last piece of the puzzle and the vdf
hardware<00:14:25.670><c> so</c><00:14:26.670><c> right</c><00:14:27.540><c> now</c><00:14:27.720><c> we're</c><00:14:27.990><c> working</c><00:14:28.170><c> with</c>

00:14:28.990 --> 00:14:29.000 align:start position:0%
hardware so right now we're working with
 

00:14:29.000 --> 00:14:30.829 align:start position:0%
hardware so right now we're working with
universities<00:14:30.000><c> around</c><00:14:30.180><c> the</c><00:14:30.389><c> world</c><00:14:30.449><c> that</c>

00:14:30.829 --> 00:14:30.839 align:start position:0%
universities around the world that
 

00:14:30.839 --> 00:14:33.530 align:start position:0%
universities around the world that
specialize<00:14:31.379><c> in</c><00:14:31.670><c> hardware</c><00:14:32.670><c> implementation</c><00:14:33.300><c> of</c>

00:14:33.530 --> 00:14:33.540 align:start position:0%
specialize in hardware implementation of
 

00:14:33.540 --> 00:14:37.460 align:start position:0%
specialize in hardware implementation of
modular<00:14:34.470><c> multiplication</c><00:14:35.279><c> and</c><00:14:36.230><c> they</c><00:14:37.230><c> have</c>

00:14:37.460 --> 00:14:37.470 align:start position:0%
modular multiplication and they have
 

00:14:37.470 --> 00:14:40.879 align:start position:0%
modular multiplication and they have
various<00:14:37.860><c> candidate</c><00:14:38.519><c> circuits</c><00:14:39.019><c> and</c><00:14:40.019><c> some</c><00:14:40.800><c> of</c>

00:14:40.879 --> 00:14:40.889 align:start position:0%
various candidate circuits and some of
 

00:14:40.889 --> 00:14:43.639 align:start position:0%
various candidate circuits and some of
them<00:14:41.040><c> are</c><00:14:41.160><c> extremely</c><00:14:41.339><c> fast</c><00:14:41.819><c> and</c><00:14:42.059><c> based</c><00:14:43.050><c> on</c><00:14:43.319><c> the</c>

00:14:43.639 --> 00:14:43.649 align:start position:0%
them are extremely fast and based on the
 

00:14:43.649 --> 00:14:46.100 align:start position:0%
them are extremely fast and based on the
circuits<00:14:44.100><c> that</c><00:14:44.279><c> they've</c><00:14:44.550><c> presented</c><00:14:44.930><c> this</c><00:14:45.930><c> is</c>

00:14:46.100 --> 00:14:46.110 align:start position:0%
circuits that they've presented this is
 

00:14:46.110 --> 00:14:49.280 align:start position:0%
circuits that they've presented this is
what<00:14:46.290><c> we</c><00:14:46.410><c> believe</c><00:14:46.709><c> we</c><00:14:46.829><c> can</c><00:14:47.009><c> achieve</c><00:14:48.050><c> so</c><00:14:49.050><c> we</c><00:14:49.170><c> can</c>

00:14:49.280 --> 00:14:49.290 align:start position:0%
what we believe we can achieve so we can
 

00:14:49.290 --> 00:14:51.949 align:start position:0%
what we believe we can achieve so we can
achieve<00:14:49.439><c> a</c><00:14:49.680><c> latency</c><00:14:50.100><c> of</c><00:14:50.129><c> 2</c><00:14:50.519><c> nanoseconds</c><00:14:51.269><c> per</c>

00:14:51.949 --> 00:14:51.959 align:start position:0%
achieve a latency of 2 nanoseconds per
 

00:14:51.959 --> 00:14:54.410 align:start position:0%
achieve a latency of 2 nanoseconds per
mm<00:14:52.709><c> bit</c><00:14:52.889><c> modular</c><00:14:53.699><c> squaring</c><00:14:54.059><c> this</c><00:14:54.209><c> is</c>

00:14:54.410 --> 00:14:54.420 align:start position:0%
mm bit modular squaring this is
 

00:14:54.420 --> 00:14:57.980 align:start position:0%
mm bit modular squaring this is
extremely<00:14:55.319><c> extremely</c><00:14:55.769><c> fast</c><00:14:56.600><c> much</c><00:14:57.600><c> faster</c>

00:14:57.980 --> 00:14:57.990 align:start position:0%
extremely extremely fast much faster
 

00:14:57.990 --> 00:15:01.490 align:start position:0%
extremely extremely fast much faster
than<00:14:58.110><c> what</c><00:14:58.319><c> a</c><00:14:58.350><c> CPU</c><00:14:58.889><c> an</c><00:14:59.129><c> FPGA</c><00:14:59.639><c> could</c><00:14:59.790><c> do</c><00:15:00.500><c> we're</c>

00:15:01.490 --> 00:15:01.500 align:start position:0%
than what a CPU an FPGA could do we're
 

00:15:01.500 --> 00:15:03.910 align:start position:0%
than what a CPU an FPGA could do we're
targeting<00:15:01.709><c> a</c><00:15:02.160><c> fairly</c><00:15:02.670><c> advanced</c><00:15:03.029><c> process</c><00:15:03.509><c> node</c>

00:15:03.910 --> 00:15:03.920 align:start position:0%
targeting a fairly advanced process node
 

00:15:03.920 --> 00:15:09.350 align:start position:0%
targeting a fairly advanced process node
16<00:15:04.920><c> nanometer</c><00:15:05.069><c> from</c><00:15:06.079><c> tsmc</c><00:15:07.110><c> and</c><00:15:07.550><c> the</c><00:15:08.550><c> the</c><00:15:09.120><c> size</c>

00:15:09.350 --> 00:15:09.360 align:start position:0%
16 nanometer from tsmc and the the size
 

00:15:09.360 --> 00:15:11.329 align:start position:0%
16 nanometer from tsmc and the the size
of<00:15:09.540><c> the</c><00:15:09.629><c> chip</c><00:15:09.839><c> the</c><00:15:10.050><c> diarrhea</c><00:15:10.740><c> and</c><00:15:10.980><c> the</c><00:15:11.129><c> power</c>

00:15:11.329 --> 00:15:11.339 align:start position:0%
of the chip the diarrhea and the power
 

00:15:11.339 --> 00:15:13.460 align:start position:0%
of the chip the diarrhea and the power
are<00:15:11.579><c> very</c><00:15:11.790><c> reasonable</c><00:15:12.300><c> you</c><00:15:12.720><c> know</c><00:15:12.779><c> 20</c><00:15:13.230><c> square</c>

00:15:13.460 --> 00:15:13.470 align:start position:0%
are very reasonable you know 20 square
 

00:15:13.470 --> 00:15:16.480 align:start position:0%
are very reasonable you know 20 square
millimeters<00:15:14.100><c> 7</c><00:15:14.850><c> watts</c><00:15:15.089><c> is</c><00:15:15.360><c> pretty</c><00:15:15.750><c> good</c><00:15:15.959><c> and</c>

00:15:16.480 --> 00:15:16.490 align:start position:0%
millimeters 7 watts is pretty good and
 

00:15:16.490 --> 00:15:18.590 align:start position:0%
millimeters 7 watts is pretty good and
so<00:15:17.490><c> we'll</c><00:15:17.670><c> be</c><00:15:17.790><c> taking</c><00:15:18.120><c> these</c>

00:15:18.590 --> 00:15:18.600 align:start position:0%
so we'll be taking these
 

00:15:18.600 --> 00:15:23.420 align:start position:0%
so we'll be taking these
Asics<00:15:19.050><c> and</c><00:15:19.319><c> putting</c><00:15:20.009><c> them</c><00:15:20.279><c> in</c><00:15:20.910><c> a</c><00:15:21.059><c> rig</c><00:15:22.129><c> the</c><00:15:23.129><c> each</c>

00:15:23.420 --> 00:15:23.430 align:start position:0%
Asics and putting them in a rig the each
 

00:15:23.430 --> 00:15:26.960 align:start position:0%
Asics and putting them in a rig the each
rig<00:15:23.699><c> would</c><00:15:23.850><c> have</c><00:15:23.910><c> a</c><00:15:24.660><c> max</c><00:15:25.470><c> the</c><00:15:26.189><c> number</c><00:15:26.490><c> of</c><00:15:26.579><c> a</c><00:15:26.699><c> 6</c>

00:15:26.960 --> 00:15:26.970 align:start position:0%
rig would have a max the number of a 6
 

00:15:26.970 --> 00:15:30.340 align:start position:0%
rig would have a max the number of a 6
or<00:15:27.149><c> maybe</c><00:15:27.329><c> about</c><00:15:27.480><c> 10</c><00:15:27.839><c> a</c><00:15:27.870><c> 6</c><00:15:28.230><c> and</c><00:15:28.470><c> that</c><00:15:29.100><c> will</c>

00:15:30.340 --> 00:15:30.350 align:start position:0%
or maybe about 10 a 6 and that will
 

00:15:30.350 --> 00:15:33.879 align:start position:0%
or maybe about 10 a 6 and that will
lead<00:15:31.070><c> to</c><00:15:31.370><c> each</c><00:15:31.639><c> machine</c><00:15:32.259><c> consuming</c><00:15:33.259><c> about</c><00:15:33.380><c> 100</c>

00:15:33.879 --> 00:15:33.889 align:start position:0%
lead to each machine consuming about 100
 

00:15:33.889 --> 00:15:38.230 align:start position:0%
lead to each machine consuming about 100
watts<00:15:36.160><c> and</c><00:15:37.160><c> the</c><00:15:37.279><c> machine</c><00:15:37.579><c> hopefully</c><00:15:38.060><c> should</c>

00:15:38.230 --> 00:15:38.240 align:start position:0%
watts and the machine hopefully should
 

00:15:38.240 --> 00:15:40.210 align:start position:0%
watts and the machine hopefully should
look<00:15:38.449><c> something</c><00:15:38.720><c> like</c><00:15:38.870><c> a</c><00:15:38.990><c> Mac</c><00:15:39.259><c> Mini</c><00:15:39.470><c> that</c><00:15:40.130><c> you</c>

00:15:40.210 --> 00:15:40.220 align:start position:0%
look something like a Mac Mini that you
 

00:15:40.220 --> 00:15:44.160 align:start position:0%
look something like a Mac Mini that you
just<00:15:40.399><c> plug</c><00:15:40.579><c> in</c><00:15:40.759><c> the</c><00:15:40.850><c> wall</c><00:15:41.000><c> and</c><00:15:41.240><c> it</c><00:15:41.509><c> just</c><00:15:41.540><c> works</c>

00:15:44.160 --> 00:15:44.170 align:start position:0%
 
 

00:15:44.170 --> 00:15:47.530 align:start position:0%
 
building<00:15:45.170><c> hardware</c><00:15:45.320><c> is</c><00:15:45.800><c> expensive</c><00:15:46.639><c> you</c><00:15:47.449><c> know</c>

00:15:47.530 --> 00:15:47.540 align:start position:0%
building hardware is expensive you know
 

00:15:47.540 --> 00:15:49.480 align:start position:0%
building hardware is expensive you know
we're<00:15:47.690><c> talking</c><00:15:48.079><c> tens</c><00:15:48.949><c> of</c><00:15:49.100><c> millions</c><00:15:49.399><c> of</c>

00:15:49.480 --> 00:15:49.490 align:start position:0%
we're talking tens of millions of
 

00:15:49.490 --> 00:15:52.389 align:start position:0%
we're talking tens of millions of
dollars<00:15:49.779><c> especially</c><00:15:50.779><c> that</c><00:15:50.930><c> we</c><00:15:51.139><c> we</c><00:15:51.889><c> want</c><00:15:52.100><c> to</c>

00:15:52.389 --> 00:15:52.399 align:start position:0%
dollars especially that we we want to
 

00:15:52.399 --> 00:15:55.110 align:start position:0%
dollars especially that we we want to
give<00:15:53.060><c> away</c><00:15:53.180><c> the</c><00:15:53.449><c> rigs</c><00:15:53.690><c> completely</c><00:15:54.500><c> for</c><00:15:54.680><c> free</c>

00:15:55.110 --> 00:15:55.120 align:start position:0%
give away the rigs completely for free
 

00:15:55.120 --> 00:15:57.670 align:start position:0%
give away the rigs completely for free
but<00:15:56.120><c> I'm</c><00:15:56.209><c> very</c><00:15:56.329><c> proud</c><00:15:56.540><c> to</c><00:15:57.230><c> announce</c><00:15:57.440><c> that</c>

00:15:57.670 --> 00:15:57.680 align:start position:0%
but I'm very proud to announce that
 

00:15:57.680 --> 00:16:00.280 align:start position:0%
but I'm very proud to announce that
we're<00:15:58.160><c> making</c><00:15:58.459><c> a</c><00:15:58.670><c> partnership</c><00:15:59.079><c> with</c><00:16:00.079><c> pal</c>

00:16:00.280 --> 00:16:00.290 align:start position:0%
we're making a partnership with pal
 

00:16:00.290 --> 00:16:03.400 align:start position:0%
we're making a partnership with pal
coins<00:16:00.560><c> so</c><00:16:00.889><c> we've</c><00:16:01.790><c> agreed</c><00:16:01.910><c> on</c><00:16:02.269><c> a</c><00:16:02.329><c> 50/50</c><00:16:03.139><c> split</c>

00:16:03.400 --> 00:16:03.410 align:start position:0%
coins so we've agreed on a 50/50 split
 

00:16:03.410 --> 00:16:06.850 align:start position:0%
coins so we've agreed on a 50/50 split
on<00:16:03.620><c> the</c><00:16:04.190><c> current</c><00:16:04.880><c> ongoing</c><00:16:05.269><c> research</c><00:16:05.600><c> and</c><00:16:05.990><c> if</c>

00:16:06.850 --> 00:16:06.860 align:start position:0%
on the current ongoing research and if
 

00:16:06.860 --> 00:16:08.290 align:start position:0%
on the current ongoing research and if
we<00:16:07.009><c> are</c><00:16:07.130><c> going</c><00:16:07.370><c> to</c><00:16:07.579><c> go</c><00:16:07.699><c> through</c><00:16:07.970><c> with</c><00:16:08.209><c> the</c>

00:16:08.290 --> 00:16:08.300 align:start position:0%
we are going to go through with the
 

00:16:08.300 --> 00:16:10.480 align:start position:0%
we are going to go through with the
whole<00:16:08.480><c> project</c><00:16:08.889><c> then</c><00:16:09.889><c> I</c><00:16:10.009><c> think</c><00:16:10.190><c> that</c><00:16:10.310><c> would</c><00:16:10.459><c> be</c>

00:16:10.480 --> 00:16:10.490 align:start position:0%
whole project then I think that would be
 

00:16:10.490 --> 00:16:13.120 align:start position:0%
whole project then I think that would be
the<00:16:10.639><c> the</c><00:16:11.420><c> largest</c><00:16:11.959><c> cross</c><00:16:12.620><c> blockchain</c>

00:16:13.120 --> 00:16:13.130 align:start position:0%
the the largest cross blockchain
 

00:16:13.130 --> 00:16:23.590 align:start position:0%
the the largest cross blockchain
collaboration<00:16:13.850><c> ever</c><00:16:21.970><c> we</c><00:16:22.970><c> also</c><00:16:23.120><c> you</c><00:16:23.360><c> know</c>

00:16:23.590 --> 00:16:23.600 align:start position:0%
collaboration ever we also you know
 

00:16:23.600 --> 00:16:26.769 align:start position:0%
collaboration ever we also you know
inviting<00:16:24.199><c> more</c><00:16:24.819><c> other</c><00:16:25.819><c> blockchain</c><00:16:26.449><c> projects</c>

00:16:26.769 --> 00:16:26.779 align:start position:0%
inviting more other blockchain projects
 

00:16:26.779 --> 00:16:30.449 align:start position:0%
inviting more other blockchain projects
to<00:16:26.870><c> come</c><00:16:27.019><c> in</c><00:16:27.170><c> so</c><00:16:27.800><c> Gi</c><00:16:28.699><c> is</c><00:16:28.790><c> working</c><00:16:29.360><c> on</c><00:16:29.540><c> vdf</c><00:16:30.019><c> I</c>

00:16:30.449 --> 00:16:30.459 align:start position:0%
to come in so Gi is working on vdf I
 

00:16:30.459 --> 00:16:32.740 align:start position:0%
to come in so Gi is working on vdf I
know<00:16:31.459><c> that</c><00:16:31.670><c> test</c><00:16:31.970><c> sauce</c><00:16:32.149><c> is</c><00:16:32.360><c> looking</c><00:16:32.630><c> to</c>

00:16:32.740 --> 00:16:32.750 align:start position:0%
know that test sauce is looking to
 

00:16:32.750 --> 00:16:34.629 align:start position:0%
know that test sauce is looking to
upgrade<00:16:32.930><c> that</c><00:16:33.199><c> randomness</c><00:16:33.889><c> they're</c><00:16:34.430><c> more</c>

00:16:34.629 --> 00:16:34.639 align:start position:0%
upgrade that randomness they're more
 

00:16:34.639 --> 00:16:37.420 align:start position:0%
upgrade that randomness they're more
than<00:16:34.730><c> welcome</c><00:16:34.880><c> to</c><00:16:35.149><c> come</c><00:16:35.300><c> in</c><00:16:35.920><c> Kedah</c><00:16:36.920><c> know</c><00:16:36.980><c> could</c>

00:16:37.420 --> 00:16:37.430 align:start position:0%
than welcome to come in Kedah know could
 

00:16:37.430 --> 00:16:40.750 align:start position:0%
than welcome to come in Kedah know could
use<00:16:37.579><c> vdf</c><00:16:38.000><c> al-quran'</c><00:16:38.810><c> could</c><00:16:39.050><c> use</c><00:16:39.230><c> vdf</c><00:16:39.620><c> the</c><00:16:40.579><c> more</c>

00:16:40.750 --> 00:16:40.760 align:start position:0%
use vdf al-quran' could use vdf the more
 

00:16:40.760 --> 00:16:44.650 align:start position:0%
use vdf al-quran' could use vdf the more
the<00:16:40.910><c> merrier</c><00:16:42.399><c> we'll</c><00:16:43.399><c> have</c><00:16:43.610><c> a</c><00:16:43.639><c> better</c><00:16:44.089><c> ASIC</c><00:16:44.510><c> at</c>

00:16:44.650 --> 00:16:44.660 align:start position:0%
the merrier we'll have a better ASIC at
 

00:16:44.660 --> 00:16:47.379 align:start position:0%
the merrier we'll have a better ASIC at
the<00:16:44.779><c> end</c><00:16:45.010><c> and</c><00:16:46.010><c> every</c><00:16:46.579><c> participant</c><00:16:47.029><c> will</c><00:16:47.180><c> have</c>

00:16:47.379 --> 00:16:47.389 align:start position:0%
the end and every participant will have
 

00:16:47.389 --> 00:16:50.410 align:start position:0%
the end and every participant will have
to<00:16:47.600><c> pay</c><00:16:48.230><c> less</c><00:16:48.440><c> food</c><00:16:48.949><c> for</c><00:16:49.220><c> the</c><00:16:49.279><c> ASIC</c><00:16:49.670><c> so</c><00:16:50.240><c> it's</c>

00:16:50.410 --> 00:16:50.420 align:start position:0%
to pay less food for the ASIC so it's
 

00:16:50.420 --> 00:16:52.530 align:start position:0%
to pay less food for the ASIC so it's
it's<00:16:50.690><c> a</c><00:16:50.779><c> win-win</c><00:16:51.139><c> and</c><00:16:51.380><c> we</c><00:16:52.130><c> really</c><00:16:52.370><c> encourage</c>

00:16:52.530 --> 00:16:52.540 align:start position:0%
it's a win-win and we really encourage
 

00:16:52.540 --> 00:16:56.680 align:start position:0%
it's a win-win and we really encourage
collaboration<00:16:53.540><c> here</c><00:16:55.269><c> one</c><00:16:56.269><c> of</c><00:16:56.360><c> the</c><00:16:56.449><c> exciting</c>

00:16:56.680 --> 00:16:56.690 align:start position:0%
collaboration here one of the exciting
 

00:16:56.690 --> 00:16:58.180 align:start position:0%
collaboration here one of the exciting
things<00:16:57.050><c> that</c><00:16:57.139><c> we're</c><00:16:57.350><c> looking</c><00:16:57.440><c> to</c><00:16:57.620><c> do</c><00:16:57.860><c> to</c><00:16:58.069><c> get</c>

00:16:58.180 --> 00:16:58.190 align:start position:0%
things that we're looking to do to get
 

00:16:58.190 --> 00:17:00.819 align:start position:0%
things that we're looking to do to get
the<00:16:58.399><c> fastest</c><00:16:59.180><c> possible</c><00:16:59.389><c> circuit</c><00:17:00.230><c> that</c><00:17:00.380><c> we</c><00:17:00.529><c> can</c>

00:17:00.819 --> 00:17:00.829 align:start position:0%
the fastest possible circuit that we can
 

00:17:00.829 --> 00:17:04.059 align:start position:0%
the fastest possible circuit that we can
is<00:17:01.149><c> to</c><00:17:02.149><c> organize</c><00:17:02.569><c> an</c><00:17:02.779><c> open-source</c><00:17:03.440><c> Hardware</c>

00:17:04.059 --> 00:17:04.069 align:start position:0%
is to organize an open-source Hardware
 

00:17:04.069 --> 00:17:06.669 align:start position:0%
is to organize an open-source Hardware
competition<00:17:04.850><c> so</c><00:17:05.449><c> anyone</c><00:17:06.110><c> who</c><00:17:06.290><c> knows</c><00:17:06.439><c> how</c><00:17:06.620><c> to</c>

00:17:06.669 --> 00:17:06.679 align:start position:0%
competition so anyone who knows how to
 

00:17:06.679 --> 00:17:08.169 align:start position:0%
competition so anyone who knows how to
design<00:17:07.040><c> a</c><00:17:07.069><c> hardware</c><00:17:07.490><c> circuit</c><00:17:07.640><c> will</c><00:17:08.059><c> be</c>

00:17:08.169 --> 00:17:08.179 align:start position:0%
design a hardware circuit will be
 

00:17:08.179 --> 00:17:11.919 align:start position:0%
design a hardware circuit will be
invited<00:17:08.659><c> to</c><00:17:09.040><c> design</c><00:17:10.449><c> latency</c><00:17:11.449><c> optimized</c>

00:17:11.919 --> 00:17:11.929 align:start position:0%
invited to design latency optimized
 

00:17:11.929 --> 00:17:15.030 align:start position:0%
invited to design latency optimized
multiple<00:17:12.890><c> modular</c><00:17:13.699><c> multiplication</c><00:17:14.270><c> circuits</c>

00:17:15.030 --> 00:17:15.040 align:start position:0%
multiple modular multiplication circuits
 

00:17:15.040 --> 00:17:18.179 align:start position:0%
multiple modular multiplication circuits
and<00:17:16.040><c> there</c><00:17:16.220><c> will</c><00:17:16.339><c> be</c><00:17:16.370><c> very</c><00:17:16.880><c> large</c><00:17:17.059><c> cash</c><00:17:17.449><c> prizes</c>

00:17:18.179 --> 00:17:18.189 align:start position:0%
and there will be very large cash prizes
 

00:17:18.189 --> 00:17:25.780 align:start position:0%
and there will be very large cash prizes
for<00:17:19.189><c> the</c><00:17:19.760><c> participants</c><00:17:23.740><c> we're</c><00:17:24.740><c> also</c><00:17:24.919><c> doing</c><00:17:25.339><c> a</c>

00:17:25.780 --> 00:17:25.790 align:start position:0%
for the participants we're also doing a
 

00:17:25.790 --> 00:17:27.939 align:start position:0%
for the participants we're also doing a
research<00:17:26.270><c> between</c><00:17:26.720><c> now</c><00:17:26.929><c> and</c><00:17:26.959><c> the</c><00:17:27.380><c> competition</c>

00:17:27.939 --> 00:17:27.949 align:start position:0%
research between now and the competition
 

00:17:27.949 --> 00:17:29.890 align:start position:0%
research between now and the competition
so<00:17:28.069><c> the</c><00:17:28.159><c> competition</c><00:17:28.580><c> maybe</c><00:17:28.820><c> will</c><00:17:29.090><c> happen</c><00:17:29.510><c> mid</c>

00:17:29.890 --> 00:17:29.900 align:start position:0%
so the competition maybe will happen mid
 

00:17:29.900 --> 00:17:33.399 align:start position:0%
so the competition maybe will happen mid
2019<00:17:30.740><c> and</c><00:17:31.040><c> so</c><00:17:31.880><c> right</c><00:17:32.540><c> now</c><00:17:32.720><c> we're</c><00:17:32.990><c> looking</c><00:17:33.020><c> at</c>

00:17:33.399 --> 00:17:33.409 align:start position:0%
2019 and so right now we're looking at
 

00:17:33.409 --> 00:17:35.740 align:start position:0%
2019 and so right now we're looking at
all<00:17:34.190><c> the</c><00:17:34.490><c> possible</c><00:17:34.640><c> ways</c><00:17:35.059><c> in</c><00:17:35.090><c> which</c><00:17:35.450><c> we</c><00:17:35.600><c> could</c>

00:17:35.740 --> 00:17:35.750 align:start position:0%
all the possible ways in which we could
 

00:17:35.750 --> 00:17:38.370 align:start position:0%
all the possible ways in which we could
squeeze<00:17:36.169><c> latency</c><00:17:36.980><c> to</c><00:17:37.250><c> get</c><00:17:37.429><c> really</c><00:17:38.059><c> good</c>

00:17:38.370 --> 00:17:38.380 align:start position:0%
squeeze latency to get really good
 

00:17:38.380 --> 00:17:41.830 align:start position:0%
squeeze latency to get really good
commodity<00:17:39.380><c> ASIC</c><00:17:39.770><c> so</c><00:17:40.010><c> if</c><00:17:40.340><c> you</c><00:17:40.850><c> have</c><00:17:41.059><c> expertise</c>

00:17:41.830 --> 00:17:41.840 align:start position:0%
commodity ASIC so if you have expertise
 

00:17:41.840 --> 00:17:43.549 align:start position:0%
commodity ASIC so if you have expertise
and<00:17:42.140><c> any</c><00:17:42.559><c> of</c><00:17:42.770><c> these</c><00:17:42.890><c> things</c><00:17:43.100><c> on</c><00:17:43.340><c> the</c>

00:17:43.549 --> 00:17:43.559 align:start position:0%
and any of these things on the
 

00:17:43.559 --> 00:17:46.369 align:start position:0%
and any of these things on the
right<00:17:44.279><c> modular</c><00:17:44.999><c> multiplication</c><00:17:45.690><c> reduction</c>

00:17:46.369 --> 00:17:46.379 align:start position:0%
right modular multiplication reduction
 

00:17:46.379 --> 00:17:51.110 align:start position:0%
right modular multiplication reduction
trees<00:17:46.649><c> compresses</c><00:17:47.929><c> FinFETs</c><00:17:49.549><c> please</c><00:17:50.549><c> email</c><00:17:50.820><c> us</c>

00:17:51.110 --> 00:17:51.120 align:start position:0%
trees compresses FinFETs please email us
 

00:17:51.120 --> 00:17:54.590 align:start position:0%
trees compresses FinFETs please email us
and<00:17:51.590><c> today</c><00:17:52.590><c> we</c><00:17:52.860><c> just</c><00:17:53.100><c> release</c><00:17:53.909><c> this</c><00:17:54.179><c> website</c>

00:17:54.590 --> 00:17:54.600 align:start position:0%
and today we just release this website
 

00:17:54.600 --> 00:17:58.850 align:start position:0%
and today we just release this website
vdf<00:17:55.499><c> research</c><00:17:55.950><c> org</c><00:17:56.429><c> where</c><00:17:57.179><c> you'll</c><00:17:57.419><c> find</c><00:17:57.860><c> tens</c>

00:17:58.850 --> 00:17:58.860 align:start position:0%
vdf research org where you'll find tens
 

00:17:58.860 --> 00:18:01.759 align:start position:0%
vdf research org where you'll find tens
of<00:17:59.100><c> links</c><00:17:59.370><c> maybe</c><00:17:59.490><c> 3040</c><00:18:00.450><c> links</c><00:18:00.870><c> and</c><00:18:01.049><c> you'll</c><00:18:01.649><c> be</c>

00:18:01.759 --> 00:18:01.769 align:start position:0%
of links maybe 3040 links and you'll be
 

00:18:01.769 --> 00:18:05.269 align:start position:0%
of links maybe 3040 links and you'll be
able<00:18:01.830><c> to</c><00:18:02.070><c> dig</c><00:18:02.639><c> in</c><00:18:02.789><c> more</c><00:18:02.999><c> into</c><00:18:04.190><c> into</c><00:18:05.190><c> the</c>

00:18:05.269 --> 00:18:05.279 align:start position:0%
able to dig in more into into the
 

00:18:05.279 --> 00:18:09.769 align:start position:0%
able to dig in more into into the
content<00:18:07.490><c> so</c><00:18:08.490><c> just</c><00:18:08.700><c> to</c><00:18:08.820><c> give</c><00:18:08.999><c> a</c><00:18:09.029><c> little</c><00:18:09.120><c> bit</c><00:18:09.629><c> of</c>

00:18:09.769 --> 00:18:09.779 align:start position:0%
content so just to give a little bit of
 

00:18:09.779 --> 00:18:12.680 align:start position:0%
content so just to give a little bit of
perspective<00:18:10.049><c> on</c><00:18:10.850><c> on</c><00:18:11.850><c> what</c><00:18:12.179><c> we're</c><00:18:12.330><c> building</c>

00:18:12.680 --> 00:18:12.690 align:start position:0%
perspective on on what we're building
 

00:18:12.690 --> 00:18:14.749 align:start position:0%
perspective on on what we're building
here<00:18:12.870><c> what</c><00:18:13.049><c> we're</c><00:18:13.169><c> looking</c><00:18:13.409><c> to</c><00:18:13.499><c> build</c><00:18:13.759><c> let's</c>

00:18:14.749 --> 00:18:14.759 align:start position:0%
here what we're looking to build let's
 

00:18:14.759 --> 00:18:18.289 align:start position:0%
here what we're looking to build let's
compare<00:18:15.210><c> the</c><00:18:15.570><c> vdf</c><00:18:16.249><c> with</c><00:18:17.249><c> a</c><00:18:17.279><c> traditional</c><00:18:18.059><c> proof</c>

00:18:18.289 --> 00:18:18.299 align:start position:0%
compare the vdf with a traditional proof
 

00:18:18.299 --> 00:18:22.430 align:start position:0%
compare the vdf with a traditional proof
of<00:18:18.450><c> work</c><00:18:18.919><c> so</c><00:18:20.299><c> PDFs</c><00:18:21.299><c> offer</c><00:18:21.509><c> something</c><00:18:21.990><c> rather</c>

00:18:22.430 --> 00:18:22.440 align:start position:0%
of work so PDFs offer something rather
 

00:18:22.440 --> 00:18:24.710 align:start position:0%
of work so PDFs offer something rather
unique<00:18:22.860><c> which</c><00:18:23.100><c> is</c><00:18:23.129><c> unbiased</c><00:18:24.090><c> world</c><00:18:24.480><c> leader</c>

00:18:24.710 --> 00:18:24.720 align:start position:0%
unique which is unbiased world leader
 

00:18:24.720 --> 00:18:28.519 align:start position:0%
unique which is unbiased world leader
election<00:18:25.369><c> but</c><00:18:26.369><c> they're</c><00:18:26.519><c> also</c><00:18:27.230><c> much</c><00:18:28.230><c> less</c>

00:18:28.519 --> 00:18:28.529 align:start position:0%
election but they're also much less
 

00:18:28.529 --> 00:18:33.230 align:start position:0%
election but they're also much less
costly<00:18:29.039><c> than</c><00:18:29.909><c> the</c><00:18:30.240><c> proof</c><00:18:30.600><c> of</c><00:18:30.720><c> work</c><00:18:31.009><c> so</c><00:18:32.240><c> in</c>

00:18:33.230 --> 00:18:33.240 align:start position:0%
costly than the proof of work so in
 

00:18:33.240 --> 00:18:36.739 align:start position:0%
costly than the proof of work so in
terms<00:18:33.509><c> of</c><00:18:33.690><c> the</c><00:18:33.840><c> energy</c><00:18:34.230><c> expenditure</c><00:18:35.749><c> it's</c>

00:18:36.739 --> 00:18:36.749 align:start position:0%
terms of the energy expenditure it's
 

00:18:36.749 --> 00:18:38.359 align:start position:0%
terms of the energy expenditure it's
about<00:18:36.929><c> ten</c><00:18:37.259><c> thousand</c><00:18:37.679><c> times</c><00:18:37.710><c> less</c><00:18:38.190><c> energy</c>

00:18:38.359 --> 00:18:38.369 align:start position:0%
about ten thousand times less energy
 

00:18:38.369 --> 00:18:40.940 align:start position:0%
about ten thousand times less energy
than<00:18:38.700><c> proof</c><00:18:39.179><c> of</c><00:18:39.330><c> work</c><00:18:39.509><c> and</c><00:18:40.110><c> in</c><00:18:40.649><c> terms</c><00:18:40.830><c> of</c>

00:18:40.940 --> 00:18:40.950 align:start position:0%
than proof of work and in terms of
 

00:18:40.950 --> 00:18:43.450 align:start position:0%
than proof of work and in terms of
hardware<00:18:41.450><c> proof</c><00:18:42.450><c> of</c><00:18:42.600><c> work</c><00:18:42.720><c> right</c><00:18:43.019><c> now</c>

00:18:43.450 --> 00:18:43.460 align:start position:0%
hardware proof of work right now
 

00:18:43.460 --> 00:18:46.970 align:start position:0%
hardware proof of work right now
requires<00:18:44.460><c> about</c><00:18:45.090><c> 10</c><00:18:45.360><c> million</c><00:18:45.570><c> GPUs</c><00:18:46.169><c> for</c><00:18:46.499><c> a</c>

00:18:46.970 --> 00:18:46.980 align:start position:0%
requires about 10 million GPUs for a
 

00:18:46.980 --> 00:18:48.619 align:start position:0%
requires about 10 million GPUs for a
theorem<00:18:47.309><c> whereas</c><00:18:47.639><c> we</c><00:18:47.970><c> need</c><00:18:48.149><c> only</c><00:18:48.389><c> a</c><00:18:48.419><c> few</c>

00:18:48.619 --> 00:18:48.629 align:start position:0%
theorem whereas we need only a few
 

00:18:48.629 --> 00:18:52.820 align:start position:0%
theorem whereas we need only a few
thousand<00:18:49.080><c> for</c><00:18:49.350><c> the</c><00:18:49.889><c> vdf</c><00:18:50.340><c> and</c><00:18:51.240><c> also</c><00:18:51.779><c> in</c><00:18:52.649><c> terms</c>

00:18:52.820 --> 00:18:52.830 align:start position:0%
thousand for the vdf and also in terms
 

00:18:52.830 --> 00:18:54.350 align:start position:0%
thousand for the vdf and also in terms
of<00:18:52.919><c> protocol</c><00:18:53.369><c> subsidies</c><00:18:53.789><c> is</c><00:18:53.940><c> very</c><00:18:54.119><c> expensive</c>

00:18:54.350 --> 00:18:54.360 align:start position:0%
of protocol subsidies is very expensive
 

00:18:54.360 --> 00:18:56.989 align:start position:0%
of protocol subsidies is very expensive
you<00:18:54.720><c> know</c><00:18:54.809><c> all</c><00:18:54.990><c> the</c><00:18:55.110><c> hot</c><00:18:55.289><c> loads</c><00:18:55.529><c> need</c><00:18:56.309><c> to</c><00:18:56.429><c> pay</c><00:18:56.700><c> a</c>

00:18:56.989 --> 00:18:56.999 align:start position:0%
you know all the hot loads need to pay a
 

00:18:56.999 --> 00:18:59.389 align:start position:0%
you know all the hot loads need to pay a
billion<00:18:57.600><c> dollars</c><00:18:57.899><c> of</c><00:18:57.929><c> inflation</c><00:18:58.499><c> per</c><00:18:58.710><c> year</c><00:18:58.980><c> to</c>

00:18:59.389 --> 00:18:59.399 align:start position:0%
billion dollars of inflation per year to
 

00:18:59.399 --> 00:19:00.590 align:start position:0%
billion dollars of inflation per year to
support<00:18:59.730><c> the</c><00:18:59.879><c> proof</c><00:19:00.059><c> of</c><00:19:00.149><c> work</c>

00:19:00.590 --> 00:19:00.600 align:start position:0%
support the proof of work
 

00:19:00.600 --> 00:19:04.070 align:start position:0%
support the proof of work
whereas<00:19:01.139><c> for</c><00:19:01.289><c> vdf</c><00:19:01.710><c> the</c><00:19:02.840><c> incentive</c><00:19:03.840><c> would</c><00:19:04.019><c> be</c>

00:19:04.070 --> 00:19:04.080 align:start position:0%
whereas for vdf the incentive would be
 

00:19:04.080 --> 00:19:08.530 align:start position:0%
whereas for vdf the incentive would be
fairly<00:19:04.889><c> small</c><00:19:05.129><c> about</c><00:19:05.369><c> a</c><00:19:05.429><c> thousand</c><00:19:05.850><c> times</c><00:19:06.029><c> less</c>

00:19:08.530 --> 00:19:08.540 align:start position:0%
 
 

00:19:08.540 --> 00:19:15.180 align:start position:0%
 
[Applause]

00:19:15.180 --> 00:19:15.190 align:start position:0%
[Applause]
 

00:19:15.190 --> 00:19:18.159 align:start position:0%
[Applause]
okay<00:19:16.190><c> so</c><00:19:16.250><c> this</c><00:19:16.490><c> is</c><00:19:16.669><c> my</c><00:19:16.720><c> conclusion</c><00:19:17.720><c> slide</c><00:19:17.809><c> and</c>

00:19:18.159 --> 00:19:18.169 align:start position:0%
okay so this is my conclusion slide and
 

00:19:18.169 --> 00:19:20.620 align:start position:0%
okay so this is my conclusion slide and
then<00:19:18.559><c> we</c><00:19:18.679><c> can</c><00:19:18.830><c> take</c><00:19:18.980><c> questions</c><00:19:19.220><c> so</c><00:19:19.640><c> if</c><00:19:20.029><c> we</c><00:19:20.510><c> are</c>

00:19:20.620 --> 00:19:20.630 align:start position:0%
then we can take questions so if we are
 

00:19:20.630 --> 00:19:22.149 align:start position:0%
then we can take questions so if we are
going<00:19:20.809><c> to</c><00:19:21.019><c> go</c><00:19:21.140><c> through</c><00:19:21.380><c> with</c><00:19:21.620><c> this</c><00:19:21.740><c> project</c>

00:19:22.149 --> 00:19:22.159 align:start position:0%
going to go through with this project
 

00:19:22.159 --> 00:19:24.909 align:start position:0%
going to go through with this project
and<00:19:22.340><c> I</c><00:19:22.429><c> really</c><00:19:22.700><c> hope</c><00:19:22.850><c> we</c><00:19:23.029><c> do</c><00:19:23.440><c> then</c><00:19:24.440><c> we'll</c><00:19:24.769><c> be</c>

00:19:24.909 --> 00:19:24.919 align:start position:0%
and I really hope we do then we'll be
 

00:19:24.919 --> 00:19:28.240 align:start position:0%
and I really hope we do then we'll be
basically<00:19:25.399><c> breaking</c><00:19:26.350><c> several</c><00:19:27.350><c> world</c><00:19:27.860><c> records</c>

00:19:28.240 --> 00:19:28.250 align:start position:0%
basically breaking several world records
 

00:19:28.250 --> 00:19:30.880 align:start position:0%
basically breaking several world records
so<00:19:28.549><c> would</c><00:19:29.059><c> have</c><00:19:29.299><c> the</c><00:19:29.450><c> first</c><00:19:29.750><c> World</c><00:19:30.320><c> War</c><00:19:30.590><c> three</c>

00:19:30.880 --> 00:19:30.890 align:start position:0%
so would have the first World War three
 

00:19:30.890 --> 00:19:33.940 align:start position:0%
so would have the first World War three
proof<00:19:31.450><c> unbiased</c><00:19:32.450><c> herbal</c><00:19:32.720><c> randomness</c><00:19:33.260><c> the</c>

00:19:33.940 --> 00:19:33.950 align:start position:0%
proof unbiased herbal randomness the
 

00:19:33.950 --> 00:19:35.980 align:start position:0%
proof unbiased herbal randomness the
only<00:19:34.370><c> construction</c><00:19:34.789><c> that</c><00:19:35.000><c> we</c><00:19:35.149><c> know</c><00:19:35.360><c> that</c><00:19:35.720><c> has</c>

00:19:35.980 --> 00:19:35.990 align:start position:0%
only construction that we know that has
 

00:19:35.990 --> 00:19:38.380 align:start position:0%
only construction that we know that has
both<00:19:36.289><c> the</c><00:19:36.649><c> unbiased</c><00:19:36.980><c> herbal</c><00:19:37.340><c> aspect</c><00:19:37.760><c> and</c><00:19:38.000><c> the</c>

00:19:38.380 --> 00:19:38.390 align:start position:0%
both the unbiased herbal aspect and the
 

00:19:38.390 --> 00:19:41.710 align:start position:0%
both the unbiased herbal aspect and the
strong<00:19:38.600><c> liveness</c><00:19:38.809><c> uses</c><00:19:39.440><c> PDFs</c><00:19:40.330><c> we</c><00:19:41.330><c> will</c><00:19:41.539><c> be</c>

00:19:41.710 --> 00:19:41.720 align:start position:0%
strong liveness uses PDFs we will be
 

00:19:41.720 --> 00:19:43.630 align:start position:0%
strong liveness uses PDFs we will be
organizing<00:19:42.440><c> the</c><00:19:42.470><c> largest</c><00:19:43.070><c> multi-party</c>

00:19:43.630 --> 00:19:43.640 align:start position:0%
organizing the largest multi-party
 

00:19:43.640 --> 00:19:47.379 align:start position:0%
organizing the largest multi-party
computation<00:19:44.049><c> ever</c><00:19:45.049><c> the</c><00:19:45.919><c> previous</c><00:19:46.250><c> record</c><00:19:47.090><c> was</c>

00:19:47.379 --> 00:19:47.389 align:start position:0%
computation ever the previous record was
 

00:19:47.389 --> 00:19:51.129 align:start position:0%
computation ever the previous record was
with<00:19:47.899><c> Z</c><00:19:48.049><c> cache</c><00:19:48.370><c> we</c><00:19:49.370><c> would</c><00:19:49.549><c> be</c><00:19:49.760><c> building</c><00:19:50.720><c> the</c>

00:19:51.129 --> 00:19:51.139 align:start position:0%
with Z cache we would be building the
 

00:19:51.139 --> 00:19:53.649 align:start position:0%
with Z cache we would be building the
the<00:19:51.169><c> first</c><00:19:51.980><c> open-source</c><00:19:52.639><c> ASIC</c><00:19:53.029><c> you</c><00:19:53.570><c> know</c>

00:19:53.649 --> 00:19:53.659 align:start position:0%
the first open-source ASIC you know
 

00:19:53.659 --> 00:19:55.659 align:start position:0%
the first open-source ASIC you know
open-source<00:19:54.230><c> Asics</c><00:19:54.649><c> haven't</c><00:19:55.070><c> really</c><00:19:55.549><c> been</c>

00:19:55.659 --> 00:19:55.669 align:start position:0%
open-source Asics haven't really been
 

00:19:55.669 --> 00:19:57.909 align:start position:0%
open-source Asics haven't really been
done<00:19:55.850><c> before</c><00:19:55.960><c> so</c><00:19:56.960><c> this</c><00:19:57.110><c> is</c><00:19:57.139><c> very</c><00:19:57.500><c> exciting</c><00:19:57.889><c> for</c>

00:19:57.909 --> 00:19:57.919 align:start position:0%
done before so this is very exciting for
 

00:19:57.919 --> 00:20:02.529 align:start position:0%
done before so this is very exciting for
me<00:19:58.070><c> and</c><00:19:58.690><c> also</c><00:19:59.690><c> as</c><00:20:00.139><c> I</c><00:20:00.500><c> mentioned</c><00:20:01.419><c> we</c><00:20:02.419><c> are</c>

00:20:02.529 --> 00:20:02.539 align:start position:0%
me and also as I mentioned we are
 

00:20:02.539 --> 00:20:04.840 align:start position:0%
me and also as I mentioned we are
looking<00:20:02.809><c> to</c><00:20:03.019><c> have</c><00:20:03.409><c> the</c><00:20:03.679><c> the</c><00:20:03.889><c> largest</c><00:20:04.399><c> cross</c>

00:20:04.840 --> 00:20:04.850 align:start position:0%
looking to have the the largest cross
 

00:20:04.850 --> 00:20:06.519 align:start position:0%
looking to have the the largest cross
blockchain<00:20:05.330><c> collaboration</c><00:20:06.019><c> to</c><00:20:06.230><c> actually</c>

00:20:06.519 --> 00:20:06.529 align:start position:0%
blockchain collaboration to actually
 

00:20:06.529 --> 00:20:09.009 align:start position:0%
blockchain collaboration to actually
build<00:20:06.830><c> this</c><00:20:06.980><c> thing</c><00:20:07.250><c> as</c><00:20:08.179><c> an</c><00:20:08.480><c> industry-wide</c>

00:20:09.009 --> 00:20:09.019 align:start position:0%
build this thing as an industry-wide
 

00:20:09.019 --> 00:20:12.780 align:start position:0%
build this thing as an industry-wide
project<00:20:10.899><c> okay</c><00:20:11.899><c> thank</c><00:20:12.169><c> you</c>

00:20:12.780 --> 00:20:12.790 align:start position:0%
project okay thank you
 

00:20:12.790 --> 00:20:19.470 align:start position:0%
project okay thank you
[Applause]

00:20:19.470 --> 00:20:19.480 align:start position:0%
[Applause]
 

00:20:19.480 --> 00:20:20.759 align:start position:0%
[Applause]
[Music]

00:20:20.759 --> 00:20:20.769 align:start position:0%
[Music]
 

00:20:20.769 --> 00:20:24.749 align:start position:0%
[Music]
so<00:20:21.769><c> we</c><00:20:21.889><c> have</c><00:20:22.009><c> about</c><00:20:22.220><c> 10</c><00:20:22.879><c> minutes</c><00:20:22.909><c> of</c><00:20:23.629><c> questions</c>

00:20:24.749 --> 00:20:24.759 align:start position:0%
so we have about 10 minutes of questions
 

00:20:24.759 --> 00:20:31.409 align:start position:0%
so we have about 10 minutes of questions
there's<00:20:25.759><c> a</c><00:20:25.820><c> microphones</c><00:20:26.359><c> on</c><00:20:26.600><c> both</c><00:20:26.869><c> sides</c>

00:20:31.409 --> 00:20:31.419 align:start position:0%
 
 

00:20:31.419 --> 00:20:34.810 align:start position:0%
 
thank<00:20:32.419><c> you</c><00:20:32.539><c> for</c><00:20:32.899><c> for</c><00:20:33.559><c> the</c><00:20:33.619><c> dock</c><00:20:33.799><c> so</c><00:20:34.309><c> a</c><00:20:34.340><c> question</c>

00:20:34.810 --> 00:20:34.820 align:start position:0%
thank you for for the dock so a question
 

00:20:34.820 --> 00:20:38.070 align:start position:0%
thank you for for the dock so a question
about<00:20:34.909><c> the</c><00:20:35.149><c> RSA</c><00:20:35.989><c> number</c><00:20:36.830><c> generation</c><00:20:37.190><c> ceremony</c>

00:20:38.070 --> 00:20:38.080 align:start position:0%
about the RSA number generation ceremony
 

00:20:38.080 --> 00:20:40.330 align:start position:0%
about the RSA number generation ceremony
can<00:20:39.080><c> you</c><00:20:39.139><c> talk</c><00:20:39.289><c> a</c><00:20:39.320><c> bit</c><00:20:39.379><c> more</c><00:20:39.529><c> about</c><00:20:39.799><c> this</c><00:20:40.009><c> and</c>

00:20:40.330 --> 00:20:40.340 align:start position:0%
can you talk a bit more about this and
 

00:20:40.340 --> 00:20:46.180 align:start position:0%
can you talk a bit more about this and
how<00:20:40.759><c> is</c><00:20:42.399><c> like</c><00:20:44.019><c> what</c><00:20:45.019><c> is</c><00:20:45.259><c> the</c><00:20:45.559><c> input</c><00:20:45.739><c> from</c><00:20:46.039><c> each</c>

00:20:46.180 --> 00:20:46.190 align:start position:0%
how is like what is the input from each
 

00:20:46.190 --> 00:20:48.489 align:start position:0%
how is like what is the input from each
participant<00:20:46.820><c> and</c><00:20:47.029><c> how</c><00:20:47.539><c> is</c><00:20:47.749><c> the</c><00:20:47.989><c> resulting</c>

00:20:48.489 --> 00:20:48.499 align:start position:0%
participant and how is the resulting
 

00:20:48.499 --> 00:20:53.369 align:start position:0%
participant and how is the resulting
number<00:20:48.529><c> gonna</c><00:20:48.950><c> be</c><00:20:49.129><c> bound</c><00:20:49.940><c> to</c><00:20:50.359><c> to</c><00:20:51.190><c> 2048</c><00:20:52.190><c> bits</c>

00:20:53.369 --> 00:20:53.379 align:start position:0%
number gonna be bound to to 2048 bits
 

00:20:53.379 --> 00:20:56.109 align:start position:0%
number gonna be bound to to 2048 bits
okay<00:20:54.379><c> so</c><00:20:54.440><c> you</c><00:20:54.619><c> want</c><00:20:55.340><c> to</c><00:20:55.609><c> know</c><00:20:55.730><c> about</c><00:20:55.879><c> the</c>

00:20:56.109 --> 00:20:56.119 align:start position:0%
okay so you want to know about the
 

00:20:56.119 --> 00:20:58.749 align:start position:0%
okay so you want to know about the
details<00:20:56.570><c> of</c><00:20:56.929><c> the</c><00:20:57.289><c> the</c><00:20:57.320><c> MPC</c><00:20:57.950><c> so</c><00:20:58.129><c> this</c><00:20:58.249><c> is</c><00:20:58.340><c> this</c>

00:20:58.749 --> 00:20:58.759 align:start position:0%
details of the the MPC so this is this
 

00:20:58.759 --> 00:21:01.509 align:start position:0%
details of the the MPC so this is this
is<00:20:58.820><c> still</c><00:20:59.210><c> kind</c><00:20:59.570><c> of</c><00:20:59.720><c> a</c><00:20:59.929><c> bit</c><00:21:00.769><c> of</c><00:21:00.859><c> open</c><00:21:01.190><c> research</c>

00:21:01.509 --> 00:21:01.519 align:start position:0%
is still kind of a bit of open research
 

00:21:01.519 --> 00:21:03.249 align:start position:0%
is still kind of a bit of open research
and<00:21:01.789><c> somewhat</c><00:21:02.210><c> beyond</c><00:21:02.600><c> my</c><00:21:02.840><c> field</c><00:21:03.139><c> of</c>

00:21:03.249 --> 00:21:03.259 align:start position:0%
and somewhat beyond my field of
 

00:21:03.259 --> 00:21:05.859 align:start position:0%
and somewhat beyond my field of
expertise<00:21:03.679><c> but</c><00:21:03.980><c> basically</c><00:21:04.869><c> every</c>

00:21:05.859 --> 00:21:05.869 align:start position:0%
expertise but basically every
 

00:21:05.869 --> 00:21:10.779 align:start position:0%
expertise but basically every
participant<00:21:06.499><c> has</c><00:21:07.809><c> a</c><00:21:08.809><c> random</c><00:21:09.409><c> number</c><00:21:09.739><c> and</c><00:21:09.859><c> then</c>

00:21:10.779 --> 00:21:10.789 align:start position:0%
participant has a random number and then
 

00:21:10.789 --> 00:21:13.570 align:start position:0%
participant has a random number and then
you<00:21:11.509><c> take</c><00:21:11.749><c> the</c><00:21:11.869><c> random</c><00:21:12.169><c> numbers</c><00:21:12.499><c> from</c><00:21:13.100><c> every</c>

00:21:13.570 --> 00:21:13.580 align:start position:0%
you take the random numbers from every
 

00:21:13.580 --> 00:21:15.549 align:start position:0%
you take the random numbers from every
participant<00:21:14.090><c> and</c><00:21:14.299><c> you</c><00:21:14.450><c> add</c><00:21:14.629><c> them</c><00:21:14.929><c> in</c><00:21:15.230><c> such</c><00:21:15.529><c> a</c>

00:21:15.549 --> 00:21:15.559 align:start position:0%
participant and you add them in such a
 

00:21:15.559 --> 00:21:18.519 align:start position:0%
participant and you add them in such a
way<00:21:15.859><c> that</c><00:21:16.100><c> no</c><00:21:16.309><c> one</c><00:21:16.340><c> knows</c><00:21:16.840><c> what</c><00:21:17.840><c> the</c><00:21:18.049><c> what</c><00:21:18.499><c> the</c>

00:21:18.519 --> 00:21:18.529 align:start position:0%
way that no one knows what the what the
 

00:21:18.529 --> 00:21:21.639 align:start position:0%
way that no one knows what the what the
addition<00:21:19.009><c> is</c><00:21:19.159><c> and</c><00:21:19.399><c> then</c><00:21:19.609><c> you</c><00:21:19.759><c> do</c><00:21:20.259><c> by</c><00:21:21.259><c> primality</c>

00:21:21.639 --> 00:21:21.649 align:start position:0%
addition is and then you do by primality
 

00:21:21.649 --> 00:21:24.729 align:start position:0%
addition is and then you do by primality
testing<00:21:22.309><c> on</c><00:21:22.489><c> the</c><00:21:22.580><c> results</c><00:21:23.029><c> so</c><00:21:23.480><c> basically</c><00:21:23.749><c> in</c><00:21:24.049><c> a</c>

00:21:24.729 --> 00:21:24.739 align:start position:0%
testing on the results so basically in a
 

00:21:24.739 --> 00:21:26.799 align:start position:0%
testing on the results so basically in a
way<00:21:24.769><c> that</c><00:21:25.100><c> no</c><00:21:25.249><c> one</c><00:21:25.429><c> knows</c><00:21:25.639><c> the</c><00:21:25.669><c> the</c><00:21:25.940><c> details</c><00:21:26.539><c> of</c>

00:21:26.799 --> 00:21:26.809 align:start position:0%
way that no one knows the the details of
 

00:21:26.809 --> 00:21:30.129 align:start position:0%
way that no one knows the the details of
the<00:21:26.929><c> secrets</c><00:21:27.350><c> you</c><00:21:28.070><c> you</c><00:21:28.639><c> check</c><00:21:28.970><c> that</c><00:21:29.139><c> you're</c>

00:21:30.129 --> 00:21:30.139 align:start position:0%
the secrets you you check that you're
 

00:21:30.139 --> 00:21:32.379 align:start position:0%
the secrets you you check that you're
basically<00:21:30.590><c> looking</c><00:21:30.830><c> for</c><00:21:31.009><c> a</c><00:21:31.220><c> number</c><00:21:31.639><c> that</c><00:21:32.179><c> is</c>

00:21:32.379 --> 00:21:32.389 align:start position:0%
basically looking for a number that is
 

00:21:32.389 --> 00:21:34.090 align:start position:0%
basically looking for a number that is
the<00:21:32.539><c> product</c><00:21:32.840><c> of</c><00:21:32.929><c> two</c><00:21:32.989><c> primes</c><00:21:33.409><c> and</c><00:21:33.679><c> if</c><00:21:33.919><c> it's</c>

00:21:34.090 --> 00:21:34.100 align:start position:0%
the product of two primes and if it's
 

00:21:34.100 --> 00:21:35.229 align:start position:0%
the product of two primes and if it's
not<00:21:34.190><c> the</c><00:21:34.309><c> product</c><00:21:34.549><c> of</c><00:21:34.639><c> two</c><00:21:34.730><c> primes</c><00:21:34.970><c> you</c><00:21:35.119><c> do</c>

00:21:35.229 --> 00:21:35.239 align:start position:0%
not the product of two primes you do
 

00:21:35.239 --> 00:21:37.060 align:start position:0%
not the product of two primes you do
that<00:21:35.389><c> again</c><00:21:35.659><c> and</c><00:21:35.869><c> again</c><00:21:36.169><c> and</c><00:21:36.470><c> again</c><00:21:36.679><c> so</c><00:21:36.739><c> you</c><00:21:36.950><c> do</c>

00:21:37.060 --> 00:21:37.070 align:start position:0%
that again and again and again so you do
 

00:21:37.070 --> 00:21:39.009 align:start position:0%
that again and again and again so you do
many<00:21:37.249><c> many</c><00:21:37.369><c> rounds</c><00:21:37.820><c> until</c><00:21:37.970><c> you</c><00:21:38.419><c> find</c><00:21:38.720><c> a</c><00:21:38.899><c> number</c>

00:21:39.009 --> 00:21:39.019 align:start position:0%
many many rounds until you find a number
 

00:21:39.019 --> 00:21:44.560 align:start position:0%
many many rounds until you find a number
that<00:21:39.200><c> is</c><00:21:39.440><c> suitable</c><00:21:42.879><c> hello</c><00:21:43.879><c> thank</c><00:21:44.359><c> you</c><00:21:44.419><c> for</c>

00:21:44.560 --> 00:21:44.570 align:start position:0%
that is suitable hello thank you for
 

00:21:44.570 --> 00:21:47.940 align:start position:0%
that is suitable hello thank you for
your<00:21:44.659><c> talk</c><00:21:45.249><c> am</c><00:21:46.249><c> I</c><00:21:46.429><c> right</c><00:21:46.609><c> in</c><00:21:46.850><c> saying</c><00:21:46.879><c> that</c><00:21:47.299><c> the</c>

00:21:47.940 --> 00:21:47.950 align:start position:0%
your talk am I right in saying that the
 

00:21:47.950 --> 00:21:50.440 align:start position:0%
your talk am I right in saying that the
problem<00:21:48.950><c> with</c><00:21:49.070><c> Definity</c><00:21:49.820><c> that</c><00:21:49.999><c> you</c><00:21:50.090><c> defined</c>

00:21:50.440 --> 00:21:50.450 align:start position:0%
problem with Definity that you defined
 

00:21:50.450 --> 00:21:52.529 align:start position:0%
problem with Definity that you defined
was<00:21:50.720><c> that</c><00:21:50.899><c> it</c><00:21:51.019><c> fails</c><00:21:51.259><c> if</c><00:21:51.470><c> notes</c><00:21:51.710><c> go</c><00:21:51.889><c> offline</c>

00:21:52.529 --> 00:21:52.539 align:start position:0%
was that it fails if notes go offline
 

00:21:52.539 --> 00:21:56.519 align:start position:0%
was that it fails if notes go offline
right<00:21:53.539><c> so</c><00:21:53.989><c> definitely</c><00:21:54.769><c> has</c><00:21:55.039><c> a</c><00:21:55.269><c> two-thirds</c>

00:21:56.519 --> 00:21:56.529 align:start position:0%
right so definitely has a two-thirds
 

00:21:56.529 --> 00:22:00.789 align:start position:0%
right so definitely has a two-thirds
honest<00:21:57.529><c> and</c><00:21:57.799><c> online</c><00:21:58.220><c> assumption</c><00:21:58.789><c> so</c><00:21:59.570><c> I</c><00:22:00.409><c> made</c>

00:22:00.789 --> 00:22:00.799 align:start position:0%
honest and online assumption so I made
 

00:22:00.799 --> 00:22:03.759 align:start position:0%
honest and online assumption so I made
the<00:22:00.889><c> calculations</c><00:22:01.460><c> if</c><00:22:01.639><c> if</c><00:22:01.879><c> roughly</c><00:22:02.690><c> 10</c><00:22:03.169><c> to</c><00:22:03.379><c> 15%</c>

00:22:03.759 --> 00:22:03.769 align:start position:0%
the calculations if if roughly 10 to 15%
 

00:22:03.769 --> 00:22:07.180 align:start position:0%
the calculations if if roughly 10 to 15%
of<00:22:04.399><c> the</c><00:22:04.909><c> honest</c><00:22:05.269><c> nodes</c><00:22:05.509><c> go</c><00:22:06.200><c> offline</c><00:22:06.679><c> and</c><00:22:07.039><c> some</c>

00:22:07.180 --> 00:22:07.190 align:start position:0%
of the honest nodes go offline and some
 

00:22:07.190 --> 00:22:09.399 align:start position:0%
of the honest nodes go offline and some
sort<00:22:07.369><c> of</c><00:22:07.429><c> catastrophic</c><00:22:08.119><c> situation</c><00:22:08.989><c> or</c><00:22:09.169><c> even</c>

00:22:09.399 --> 00:22:09.409 align:start position:0%
sort of catastrophic situation or even
 

00:22:09.409 --> 00:22:11.680 align:start position:0%
sort of catastrophic situation or even
not<00:22:09.559><c> so</c><00:22:09.590><c> catastrophic</c><00:22:10.249><c> situation</c><00:22:10.759><c> then</c><00:22:11.539><c> the</c>

00:22:11.680 --> 00:22:11.690 align:start position:0%
not so catastrophic situation then the
 

00:22:11.690 --> 00:22:13.029 align:start position:0%
not so catastrophic situation then the
deccan<00:22:12.019><c> would</c><00:22:12.200><c> stall</c><00:22:12.470><c> and</c><00:22:12.799><c> the</c><00:22:12.889><c> whole</c>

00:22:13.029 --> 00:22:13.039 align:start position:0%
deccan would stall and the whole
 

00:22:13.039 --> 00:22:16.299 align:start position:0%
deccan would stall and the whole
blockchain<00:22:13.460><c> would</c><00:22:13.609><c> stall</c><00:22:14.320><c> okay</c><00:22:15.320><c> so</c><00:22:15.980><c> I</c><00:22:16.009><c> just</c>

00:22:16.299 --> 00:22:16.309 align:start position:0%
blockchain would stall okay so I just
 

00:22:16.309 --> 00:22:17.619 align:start position:0%
blockchain would stall okay so I just
want<00:22:16.489><c> to</c><00:22:16.549><c> challenge</c><00:22:16.759><c> part</c><00:22:17.419><c> of</c><00:22:17.509><c> that</c>

00:22:17.619 --> 00:22:17.629 align:start position:0%
want to challenge part of that
 

00:22:17.629 --> 00:22:19.119 align:start position:0%
want to challenge part of that
assumption<00:22:17.929><c> I'm</c><00:22:18.139><c> not</c><00:22:18.320><c> linked</c><00:22:18.529><c> to</c><00:22:18.559><c> Definity</c><00:22:19.039><c> or</c>

00:22:19.119 --> 00:22:19.129 align:start position:0%
assumption I'm not linked to Definity or
 

00:22:19.129 --> 00:22:21.340 align:start position:0%
assumption I'm not linked to Definity or
anything<00:22:19.309><c> like</c><00:22:19.519><c> that</c><00:22:19.779><c> you</c><00:22:20.779><c> were</c><00:22:20.899><c> asking</c><00:22:21.230><c> us</c><00:22:21.320><c> to</c>

00:22:21.340 --> 00:22:21.350 align:start position:0%
anything like that you were asking us to
 

00:22:21.350 --> 00:22:23.200 align:start position:0%
anything like that you were asking us to
trust<00:22:21.619><c> three</c><00:22:21.980><c> aspects</c><00:22:22.489><c> here</c><00:22:22.609><c> one</c><00:22:22.879><c> that</c><00:22:23.119><c> the</c>

00:22:23.200 --> 00:22:23.210 align:start position:0%
trust three aspects here one that the
 

00:22:23.210 --> 00:22:24.700 align:start position:0%
trust three aspects here one that the
signing<00:22:23.450><c> ceremony</c><00:22:23.600><c> won't</c><00:22:24.139><c> generate</c><00:22:24.470><c> toxic</c>

00:22:24.700 --> 00:22:24.710 align:start position:0%
signing ceremony won't generate toxic
 

00:22:24.710 --> 00:22:27.460 align:start position:0%
signing ceremony won't generate toxic
waste<00:22:25.070><c> to</c><00:22:25.820><c> that</c><00:22:26.179><c> this</c><00:22:26.330><c> centralized</c><00:22:26.869><c> hardware</c>

00:22:27.460 --> 00:22:27.470 align:start position:0%
waste to that this centralized hardware
 

00:22:27.470 --> 00:22:30.240 align:start position:0%
waste to that this centralized hardware
will<00:22:28.429><c> be</c><00:22:28.460><c> trusted</c>

00:22:30.240 --> 00:22:30.250 align:start position:0%
will be trusted
 

00:22:30.250 --> 00:22:32.040 align:start position:0%
will be trusted
three<00:22:30.820><c> that</c><00:22:31.120><c> there's</c><00:22:31.330><c> brand</c><00:22:31.600><c> new</c><00:22:31.780><c> set</c><00:22:32.020><c> of</c>

00:22:32.040 --> 00:22:32.050 align:start position:0%
three that there's brand new set of
 

00:22:32.050 --> 00:22:34.380 align:start position:0%
three that there's brand new set of
cryptography<00:22:32.710><c> from</c><00:22:32.950><c> this</c><00:22:33.160><c> year</c><00:22:33.490><c> is</c><00:22:33.730><c> the</c><00:22:34.240><c> right</c>

00:22:34.380 --> 00:22:34.390 align:start position:0%
cryptography from this year is the right
 

00:22:34.390 --> 00:22:36.450 align:start position:0%
cryptography from this year is the right
thing<00:22:34.600><c> to</c><00:22:34.720><c> use</c><00:22:34.930><c> rather</c><00:22:35.530><c> than</c><00:22:35.770><c> just</c><00:22:36.070><c> trust</c><00:22:36.340><c> that</c>

00:22:36.450 --> 00:22:36.460 align:start position:0%
thing to use rather than just trust that
 

00:22:36.460 --> 00:22:38.010 align:start position:0%
thing to use rather than just trust that
temps<00:22:36.880><c> and</c><00:22:37.030><c> people</c><00:22:37.420><c> won't</c><00:22:37.540><c> go</c><00:22:37.720><c> offline</c>

00:22:38.010 --> 00:22:38.020 align:start position:0%
temps and people won't go offline
 

00:22:38.020 --> 00:22:42.630 align:start position:0%
temps and people won't go offline
simultaneously<00:22:40.140><c> right</c><00:22:41.140><c> I</c><00:22:41.230><c> mean</c><00:22:41.470><c> you</c><00:22:42.280><c> can</c><00:22:42.460><c> pick</c>

00:22:42.630 --> 00:22:42.640 align:start position:0%
simultaneously right I mean you can pick
 

00:22:42.640 --> 00:22:44.250 align:start position:0%
simultaneously right I mean you can pick
whatever<00:22:43.090><c> trade</c><00:22:43.420><c> off</c><00:22:43.570><c> you</c><00:22:43.600><c> want</c><00:22:43.870><c> it's</c><00:22:44.050><c> true</c>

00:22:44.250 --> 00:22:44.260 align:start position:0%
whatever trade off you want it's true
 

00:22:44.260 --> 00:22:46.740 align:start position:0%
whatever trade off you want it's true
that<00:22:44.500><c> a</c><00:22:45.100><c> pure</c><00:22:45.580><c> software</c><00:22:46.000><c> don't</c><00:22:46.300><c> get</c><00:22:46.510><c> to</c><00:22:46.630><c> pick</c>

00:22:46.740 --> 00:22:46.750 align:start position:0%
that a pure software don't get to pick
 

00:22:46.750 --> 00:22:49.500 align:start position:0%
that a pure software don't get to pick
it<00:22:46.960><c> you're</c><00:22:47.200><c> picking</c><00:22:47.590><c> it</c><00:22:47.730><c> know</c><00:22:48.730><c> at</c><00:22:49.210><c> the</c><00:22:49.330><c> end</c><00:22:49.360><c> of</c>

00:22:49.500 --> 00:22:49.510 align:start position:0%
it you're picking it know at the end of
 

00:22:49.510 --> 00:22:52.230 align:start position:0%
it you're picking it know at the end of
the<00:22:49.570><c> day</c><00:22:49.720><c> this</c><00:22:49.960><c> is</c><00:22:50.140><c> a</c><00:22:50.170><c> community</c><00:22:51.130><c> decision</c><00:22:51.820><c> and</c>

00:22:52.230 --> 00:22:52.240 align:start position:0%
the day this is a community decision and
 

00:22:52.240 --> 00:22:54.860 align:start position:0%
the day this is a community decision and
we're<00:22:52.690><c> just</c><00:22:52.930><c> making</c><00:22:53.410><c> a</c><00:22:53.470><c> suggestion</c><00:22:53.830><c> here</c>

00:22:54.860 --> 00:22:54.870 align:start position:0%
we're just making a suggestion here
 

00:22:54.870 --> 00:22:57.060 align:start position:0%
we're just making a suggestion here
there<00:22:55.870><c> is</c><00:22:56.020><c> a</c><00:22:56.050><c> trade-off</c><00:22:56.380><c> you</c><00:22:56.680><c> know</c><00:22:56.770><c> you</c><00:22:56.830><c> can</c>

00:22:57.060 --> 00:22:57.070 align:start position:0%
there is a trade-off you know you can
 

00:22:57.070 --> 00:23:02.670 align:start position:0%
there is a trade-off you know you can
either<00:22:57.280><c> have</c><00:22:57.610><c> strong</c><00:22:58.180><c> liveness</c><00:22:59.820><c> and</c><00:23:01.680><c> hardware</c>

00:23:02.670 --> 00:23:02.680 align:start position:0%
either have strong liveness and hardware
 

00:23:02.680 --> 00:23:04.710 align:start position:0%
either have strong liveness and hardware
or<00:23:02.890><c> you</c><00:23:03.070><c> can</c><00:23:03.250><c> have</c><00:23:03.460><c> a</c><00:23:03.490><c> pure</c><00:23:03.850><c> software</c><00:23:04.180><c> solution</c>

00:23:04.710 --> 00:23:04.720 align:start position:0%
or you can have a pure software solution
 

00:23:04.720 --> 00:23:08.340 align:start position:0%
or you can have a pure software solution
and<00:23:04.990><c> and</c><00:23:05.380><c> and</c><00:23:05.740><c> and</c><00:23:06.100><c> no</c><00:23:06.550><c> no</c><00:23:07.510><c> strong</c><00:23:07.750><c> liveness</c><00:23:07.960><c> I</c>

00:23:08.340 --> 00:23:08.350 align:start position:0%
and and and and no no strong liveness I
 

00:23:08.350 --> 00:23:13.200 align:start position:0%
and and and and no no strong liveness I
mean<00:23:09.840><c> a</c><00:23:11.430><c> lot</c><00:23:12.430><c> of</c><00:23:12.460><c> the</c><00:23:12.610><c> infrastructure</c><00:23:13.060><c> that</c>

00:23:13.200 --> 00:23:13.210 align:start position:0%
mean a lot of the infrastructure that
 

00:23:13.210 --> 00:23:15.270 align:start position:0%
mean a lot of the infrastructure that
we're<00:23:13.390><c> building</c><00:23:13.480><c> for</c><00:23:13.870><c> for</c><00:23:14.320><c> FM's</c><00:23:14.680><c> 2.0</c><00:23:14.980><c> actually</c>

00:23:15.270 --> 00:23:15.280 align:start position:0%
we're building for for FM's 2.0 actually
 

00:23:15.280 --> 00:23:16.460 align:start position:0%
we're building for for FM's 2.0 actually
all<00:23:15.430><c> the</c><00:23:15.550><c> infrastructure</c><00:23:16.060><c> is</c><00:23:16.360><c> designed</c>

00:23:16.460 --> 00:23:16.470 align:start position:0%
all the infrastructure is designed
 

00:23:16.470 --> 00:23:20.130 align:start position:0%
all the infrastructure is designed
around<00:23:17.470><c> strong</c><00:23:18.280><c> liveness</c><00:23:18.660><c> so</c><00:23:19.660><c> that</c><00:23:19.810><c> is</c><00:23:19.930><c> not</c>

00:23:20.130 --> 00:23:20.140 align:start position:0%
around strong liveness so that is not
 

00:23:20.140 --> 00:23:21.690 align:start position:0%
around strong liveness so that is not
something<00:23:20.200><c> that</c><00:23:20.590><c> we</c><00:23:20.800><c> want</c><00:23:20.980><c> to</c><00:23:21.040><c> compromise</c><00:23:21.310><c> on</c>

00:23:21.690 --> 00:23:21.700 align:start position:0%
something that we want to compromise on
 

00:23:21.700 --> 00:23:24.780 align:start position:0%
something that we want to compromise on
what<00:23:22.330><c> is</c><00:23:22.840><c> totally</c><00:23:23.170><c> possible</c><00:23:23.350><c> is</c><00:23:23.890><c> actually</c><00:23:24.520><c> to</c>

00:23:24.780 --> 00:23:24.790 align:start position:0%
what is totally possible is actually to
 

00:23:24.790 --> 00:23:28.170 align:start position:0%
what is totally possible is actually to
just<00:23:24.940><c> stick</c><00:23:25.180><c> with</c><00:23:25.330><c> Randall</c><00:23:25.780><c> Randall</c><00:23:26.440><c> is</c><00:23:26.890><c> a</c><00:23:27.180><c> is</c>

00:23:28.170 --> 00:23:28.180 align:start position:0%
just stick with Randall Randall is a is
 

00:23:28.180 --> 00:23:32.370 align:start position:0%
just stick with Randall Randall is a is
a<00:23:29.050><c> pure</c><00:23:30.270><c> software</c><00:23:31.270><c> solution</c><00:23:31.780><c> with</c><00:23:32.230><c> no</c>

00:23:32.370 --> 00:23:32.380 align:start position:0%
a pure software solution with no
 

00:23:32.380 --> 00:23:35.120 align:start position:0%
a pure software solution with no
hardware<00:23:32.800><c> but</c><00:23:33.250><c> there's</c><00:23:33.430><c> actually</c><00:23:33.730><c> no</c><00:23:34.000><c> loss</c><00:23:34.660><c> in</c>

00:23:35.120 --> 00:23:35.130 align:start position:0%
hardware but there's actually no loss in
 

00:23:35.130 --> 00:23:37.170 align:start position:0%
hardware but there's actually no loss in
having<00:23:36.130><c> hardware</c><00:23:36.580><c> that</c><00:23:36.790><c> will</c><00:23:36.940><c> upgrade</c>

00:23:37.170 --> 00:23:37.180 align:start position:0%
having hardware that will upgrade
 

00:23:37.180 --> 00:23:40.680 align:start position:0%
having hardware that will upgrade
Randall<00:23:37.930><c> and</c><00:23:38.140><c> the</c><00:23:38.680><c> reason</c><00:23:39.040><c> is</c><00:23:39.190><c> that</c><00:23:39.690><c> there's</c>

00:23:40.680 --> 00:23:40.690 align:start position:0%
Randall and the reason is that there's
 

00:23:40.690 --> 00:23:42.570 align:start position:0%
Randall and the reason is that there's
two<00:23:40.990><c> ways</c><00:23:41.020><c> that</c><00:23:41.200><c> the</c><00:23:41.560><c> hardware</c><00:23:41.950><c> can</c><00:23:42.070><c> fail</c><00:23:42.340><c> or</c>

00:23:42.570 --> 00:23:42.580 align:start position:0%
two ways that the hardware can fail or
 

00:23:42.580 --> 00:23:48.320 align:start position:0%
two ways that the hardware can fail or
the<00:23:42.910><c> cryptography</c><00:23:43.480><c> can</c><00:23:43.600><c> fail</c><00:23:44.100><c> number</c><00:23:45.100><c> one</c><00:23:46.950><c> the</c>

00:23:48.320 --> 00:23:48.330 align:start position:0%
the cryptography can fail number one the
 

00:23:48.330 --> 00:23:52.110 align:start position:0%
the cryptography can fail number one the
the<00:23:49.330><c> RSA</c><00:23:49.870><c> modulus</c><00:23:50.800><c> is</c><00:23:51.010><c> factored</c><00:23:51.490><c> for</c><00:23:51.760><c> example</c>

00:23:52.110 --> 00:23:52.120 align:start position:0%
the RSA modulus is factored for example
 

00:23:52.120 --> 00:23:54.630 align:start position:0%
the RSA modulus is factored for example
by<00:23:52.350><c> by</c><00:23:53.350><c> a</c><00:23:53.380><c> quantum</c><00:23:53.740><c> computer</c><00:23:53.770><c> and</c><00:23:54.310><c> in</c><00:23:54.490><c> which</c>

00:23:54.630 --> 00:23:54.640 align:start position:0%
by by a quantum computer and in which
 

00:23:54.640 --> 00:23:57.840 align:start position:0%
by by a quantum computer and in which
case<00:23:54.880><c> it</c><00:23:55.120><c> would</c><00:23:55.240><c> be</c><00:23:56.130><c> it</c><00:23:57.130><c> would</c><00:23:57.220><c> take</c><00:23:57.430><c> no</c><00:23:57.610><c> time</c>

00:23:57.840 --> 00:23:57.850 align:start position:0%
case it would be it would take no time
 

00:23:57.850 --> 00:23:59.760 align:start position:0%
case it would be it would take no time
from<00:23:58.060><c> that</c><00:23:58.180><c> attacker</c><00:23:58.420><c> to</c><00:23:58.720><c> compute</c><00:23:59.140><c> the</c><00:23:59.200><c> vdf</c><00:23:59.530><c> in</c>

00:23:59.760 --> 00:23:59.770 align:start position:0%
from that attacker to compute the vdf in
 

00:23:59.770 --> 00:24:03.020 align:start position:0%
from that attacker to compute the vdf in
that<00:24:00.220><c> case</c><00:24:00.490><c> we</c><00:24:01.090><c> fall</c><00:24:01.390><c> back</c><00:24:01.660><c> on</c><00:24:01.930><c> the</c><00:24:02.170><c> safety</c><00:24:02.710><c> of</c>

00:24:03.020 --> 00:24:03.030 align:start position:0%
that case we fall back on the safety of
 

00:24:03.030 --> 00:24:06.750 align:start position:0%
that case we fall back on the safety of
Randall<00:24:04.030><c> in</c><00:24:04.750><c> the</c><00:24:05.650><c> case</c><00:24:05.890><c> where</c><00:24:06.220><c> all</c><00:24:06.490><c> the</c>

00:24:06.750 --> 00:24:06.760 align:start position:0%
Randall in the case where all the
 

00:24:06.760 --> 00:24:10.590 align:start position:0%
Randall in the case where all the
hardware<00:24:07.270><c> suddenly</c><00:24:07.780><c> goes</c><00:24:07.930><c> offline</c><00:24:08.230><c> oh</c><00:24:09.120><c> oh</c><00:24:10.120><c> is</c>

00:24:10.590 --> 00:24:10.600 align:start position:0%
hardware suddenly goes offline oh oh is
 

00:24:10.600 --> 00:24:12.390 align:start position:0%
hardware suddenly goes offline oh oh is
all<00:24:10.780><c> hacked</c><00:24:11.020><c> at</c><00:24:11.170><c> the</c><00:24:11.260><c> same</c><00:24:11.440><c> time</c><00:24:11.710><c> then</c><00:24:12.250><c> we</c>

00:24:12.390 --> 00:24:12.400 align:start position:0%
all hacked at the same time then we
 

00:24:12.400 --> 00:24:14.310 align:start position:0%
all hacked at the same time then we
instead<00:24:12.850><c> of</c><00:24:12.910><c> having</c><00:24:13.120><c> a</c><00:24:13.270><c> live</c><00:24:13.480><c> list</c><00:24:13.750><c> failure</c><00:24:14.140><c> we</c>

00:24:14.310 --> 00:24:14.320 align:start position:0%
instead of having a live list failure we
 

00:24:14.320 --> 00:24:16.290 align:start position:0%
instead of having a live list failure we
also<00:24:14.770><c> fall</c><00:24:15.070><c> back</c><00:24:15.250><c> on</c><00:24:15.460><c> Randall</c><00:24:15.850><c> for</c><00:24:16.060><c> liveness</c>

00:24:16.290 --> 00:24:16.300 align:start position:0%
also fall back on Randall for liveness
 

00:24:16.300 --> 00:24:20.010 align:start position:0%
also fall back on Randall for liveness
so<00:24:17.370><c> the</c><00:24:18.370><c> vdf</c><00:24:18.760><c> is</c><00:24:18.880><c> a</c><00:24:18.910><c> straight</c><00:24:19.270><c> upgrade</c><00:24:19.510><c> over</c>

00:24:20.010 --> 00:24:20.020 align:start position:0%
so the vdf is a straight upgrade over
 

00:24:20.020 --> 00:24:29.240 align:start position:0%
so the vdf is a straight upgrade over
Randall<00:24:21.480><c> yeah</c><00:24:25.410><c> so</c><00:24:26.410><c> you</c><00:24:27.070><c> mentioned</c><00:24:27.280><c> about</c>

00:24:29.240 --> 00:24:29.250 align:start position:0%
Randall yeah so you mentioned about
 

00:24:29.250 --> 00:24:31.320 align:start position:0%
Randall yeah so you mentioned about
synchronicity<00:24:30.250><c> for</c><00:24:30.580><c> multi-party</c>

00:24:31.320 --> 00:24:31.330 align:start position:0%
synchronicity for multi-party
 

00:24:31.330 --> 00:24:34.410 align:start position:0%
synchronicity for multi-party
computation<00:24:31.600><c> can</c><00:24:32.560><c> you</c><00:24:32.680><c> expand</c><00:24:33.070><c> why</c><00:24:33.310><c> your</c><00:24:34.240><c> need</c>

00:24:34.410 --> 00:24:34.420 align:start position:0%
computation can you expand why your need
 

00:24:34.420 --> 00:24:39.510 align:start position:0%
computation can you expand why your need
a<00:24:34.450><c> synchronous</c><00:24:36.150><c> ceremony</c><00:24:37.150><c> I</c><00:24:38.340><c> don't</c><00:24:39.340><c> have</c><00:24:39.490><c> a</c>

00:24:39.510 --> 00:24:39.520 align:start position:0%
a synchronous ceremony I don't have a
 

00:24:39.520 --> 00:24:40.500 align:start position:0%
a synchronous ceremony I don't have a
whole<00:24:39.700><c> question</c><00:24:40.000><c> but</c><00:24:40.150><c> I</c><00:24:40.179><c> think</c><00:24:40.330><c> you're</c><00:24:40.420><c> asking</c>

00:24:40.500 --> 00:24:40.510 align:start position:0%
whole question but I think you're asking
 

00:24:40.510 --> 00:24:42.780 align:start position:0%
whole question but I think you're asking
why<00:24:41.230><c> why</c><00:24:41.710><c> do</c><00:24:41.770><c> we</c><00:24:41.950><c> need</c><00:24:42.040><c> to</c><00:24:42.190><c> have</c><00:24:42.280><c> a</c><00:24:42.340><c> synchronous</c>

00:24:42.780 --> 00:24:42.790 align:start position:0%
why why do we need to have a synchronous
 

00:24:42.790 --> 00:24:43.610 align:start position:0%
why why do we need to have a synchronous
and

00:24:43.610 --> 00:24:43.620 align:start position:0%
and
 

00:24:43.620 --> 00:24:48.950 align:start position:0%
and
see<00:24:43.800><c> yeah</c><00:24:44.340><c> yeah</c><00:24:46.170><c> simply</c><00:24:47.130><c> because</c><00:24:47.250><c> with</c><00:24:47.960><c> the</c>

00:24:48.950 --> 00:24:48.960 align:start position:0%
see yeah yeah simply because with the
 

00:24:48.960 --> 00:24:52.520 align:start position:0%
see yeah yeah simply because with the
state<00:24:49.200><c> of</c><00:24:49.350><c> the</c><00:24:49.440><c> art</c><00:24:49.620><c> of</c><00:24:49.860><c> RSA</c><00:24:50.930><c> NPCs</c><00:24:51.930><c> we</c><00:24:52.200><c> just</c>

00:24:52.520 --> 00:24:52.530 align:start position:0%
state of the art of RSA NPCs we just
 

00:24:52.530 --> 00:24:53.720 align:start position:0%
state of the art of RSA NPCs we just
don't<00:24:52.710><c> know</c><00:24:52.860><c> how</c><00:24:53.040><c> to</c><00:24:53.100><c> make</c><00:24:53.340><c> them</c><00:24:53.580><c> a</c>

00:24:53.720 --> 00:24:53.730 align:start position:0%
don't know how to make them a
 

00:24:53.730 --> 00:24:56.570 align:start position:0%
don't know how to make them a
synchronous<00:24:54.380><c> the</c><00:24:55.380><c> the</c><00:24:55.650><c> Z</c><00:24:55.830><c> cache</c><00:24:56.040><c> powers</c><00:24:56.430><c> of</c>

00:24:56.570 --> 00:24:56.580 align:start position:0%
synchronous the the Z cache powers of
 

00:24:56.580 --> 00:24:58.310 align:start position:0%
synchronous the the Z cache powers of
tau<00:24:56.790><c> with</c><00:24:57.300><c> a</c><00:24:57.330><c> synchronous</c><00:24:57.809><c> and</c><00:24:57.960><c> I</c><00:24:58.020><c> believe</c>

00:24:58.310 --> 00:24:58.320 align:start position:0%
tau with a synchronous and I believe
 

00:24:58.320 --> 00:25:00.320 align:start position:0%
tau with a synchronous and I believe
this<00:24:58.470><c> is</c><00:24:58.530><c> a</c><00:24:58.950><c> more</c><00:24:59.460><c> the</c><00:24:59.640><c> exception</c><00:24:59.910><c> than</c><00:25:00.150><c> the</c>

00:25:00.320 --> 00:25:00.330 align:start position:0%
this is a more the exception than the
 

00:25:00.330 --> 00:25:04.670 align:start position:0%
this is a more the exception than the
rule<00:25:01.490><c> so</c><00:25:02.490><c> the</c><00:25:03.270><c> current</c><00:25:03.630><c> state</c><00:25:03.870><c> of</c><00:25:03.900><c> the</c><00:25:04.200><c> art</c><00:25:04.230><c> is</c>

00:25:04.670 --> 00:25:04.680 align:start position:0%
rule so the current state of the art is
 

00:25:04.680 --> 00:25:06.650 align:start position:0%
rule so the current state of the art is
a<00:25:05.190><c> synchronous</c><00:25:05.700><c> so</c><00:25:05.940><c> we're</c><00:25:06.300><c> stuck</c><00:25:06.480><c> with</c><00:25:06.600><c> that</c>

00:25:06.650 --> 00:25:06.660 align:start position:0%
a synchronous so we're stuck with that
 

00:25:06.660 --> 00:25:09.980 align:start position:0%
a synchronous so we're stuck with that
the<00:25:07.290><c> best</c><00:25:07.500><c> we</c><00:25:07.650><c> can</c><00:25:07.800><c> do</c><00:25:08.040><c> is</c><00:25:08.370><c> make</c><00:25:09.090><c> sure</c><00:25:09.120><c> that</c><00:25:09.600><c> the</c>

00:25:09.980 --> 00:25:09.990 align:start position:0%
the best we can do is make sure that the
 

00:25:09.990 --> 00:25:12.170 align:start position:0%
the best we can do is make sure that the
the<00:25:10.650><c> duration</c><00:25:11.130><c> of</c><00:25:11.190><c> the</c><00:25:11.340><c> MPC</c><00:25:11.700><c> is</c><00:25:11.760><c> as</c><00:25:11.940><c> small</c><00:25:12.120><c> as</c>

00:25:12.170 --> 00:25:12.180 align:start position:0%
the duration of the MPC is as small as
 

00:25:12.180 --> 00:25:15.290 align:start position:0%
the duration of the MPC is as small as
possible<00:25:12.420><c> so</c><00:25:13.380><c> that</c><00:25:13.860><c> we</c><00:25:14.550><c> don't</c><00:25:14.670><c> waste</c><00:25:14.910><c> people's</c>

00:25:15.290 --> 00:25:15.300 align:start position:0%
possible so that we don't waste people's
 

00:25:15.300 --> 00:25:19.900 align:start position:0%
possible so that we don't waste people's
time<00:25:16.520><c> what's</c><00:25:17.520><c> the</c><00:25:17.820><c> fundamental</c><00:25:18.090><c> reason</c><00:25:18.900><c> for</c>

00:25:19.900 --> 00:25:19.910 align:start position:0%
time what's the fundamental reason for
 

00:25:19.910 --> 00:25:22.840 align:start position:0%
time what's the fundamental reason for
like<00:25:20.910><c> at</c><00:25:21.120><c> a</c><00:25:21.179><c> high</c><00:25:21.450><c> level</c>

00:25:22.840 --> 00:25:22.850 align:start position:0%
like at a high level
 

00:25:22.850 --> 00:25:25.850 align:start position:0%
like at a high level
yeah<00:25:23.850><c> again</c><00:25:24.179><c> I</c><00:25:24.240><c> mean</c><00:25:24.540><c> the</c><00:25:24.720><c> NPC</c><00:25:25.110><c> is</c><00:25:25.290><c> going</c><00:25:25.650><c> and</c>

00:25:25.850 --> 00:25:25.860 align:start position:0%
yeah again I mean the NPC is going and
 

00:25:25.860 --> 00:25:30.290 align:start position:0%
yeah again I mean the NPC is going and
beyond<00:25:26.130><c> my</c><00:25:26.190><c> my</c><00:25:27.380><c> domain</c><00:25:28.380><c> of</c><00:25:28.530><c> expertise</c><00:25:29.300><c> there</c>

00:25:30.290 --> 00:25:30.300 align:start position:0%
beyond my my domain of expertise there
 

00:25:30.300 --> 00:25:32.630 align:start position:0%
beyond my my domain of expertise there
will<00:25:30.480><c> be</c><00:25:30.510><c> a</c><00:25:30.630><c> public</c><00:25:30.900><c> paper</c><00:25:31.679><c> published</c><00:25:31.950><c> soon</c><00:25:32.460><c> I</c>

00:25:32.630 --> 00:25:32.640 align:start position:0%
will be a public paper published soon I
 

00:25:32.640 --> 00:25:34.850 align:start position:0%
will be a public paper published soon I
believe<00:25:33.240><c> by</c><00:25:33.480><c> by</c><00:25:33.840><c> the</c><00:25:33.900><c> leave</c><00:25:34.140><c> Harrow</c><00:25:34.320><c> team</c><00:25:34.590><c> and</c>

00:25:34.850 --> 00:25:34.860 align:start position:0%
believe by by the leave Harrow team and
 

00:25:34.860 --> 00:25:37.250 align:start position:0%
believe by by the leave Harrow team and
actually<00:25:35.580><c> that</c><00:25:35.970><c> work</c><00:25:36.240><c> is</c><00:25:36.510><c> based</c><00:25:36.780><c> on</c><00:25:36.960><c> a</c><00:25:36.990><c> paper</c>

00:25:37.250 --> 00:25:37.260 align:start position:0%
actually that work is based on a paper
 

00:25:37.260 --> 00:25:40.610 align:start position:0%
actually that work is based on a paper
from<00:25:37.590><c> crypto</c><00:25:38.370><c> 2018</c><00:25:39.270><c> so</c><00:25:39.600><c> I</c><00:25:39.840><c> can</c><00:25:40.200><c> point</c><00:25:40.380><c> to</c><00:25:40.530><c> you</c>

00:25:40.610 --> 00:25:40.620 align:start position:0%
from crypto 2018 so I can point to you
 

00:25:40.620 --> 00:25:42.560 align:start position:0%
from crypto 2018 so I can point to you
if<00:25:40.980><c> you</c><00:25:41.100><c> if</c><00:25:41.309><c> you</c><00:25:41.400><c> email</c><00:25:41.550><c> me</c><00:25:41.730><c> I'll</c><00:25:42.059><c> point</c><00:25:42.270><c> to</c><00:25:42.390><c> you</c>

00:25:42.560 --> 00:25:42.570 align:start position:0%
if you if you email me I'll point to you
 

00:25:42.570 --> 00:25:46.220 align:start position:0%
if you if you email me I'll point to you
to<00:25:42.900><c> the</c><00:25:42.990><c> paper</c><00:25:44.870><c> thank</c><00:25:45.870><c> you</c><00:25:45.960><c> for</c><00:25:46.140><c> your</c>

00:25:46.220 --> 00:25:46.230 align:start position:0%
to the paper thank you for your
 

00:25:46.230 --> 00:25:49.160 align:start position:0%
to the paper thank you for your
presentation<00:25:46.800><c> I</c><00:25:47.460><c> have</c><00:25:47.790><c> a</c><00:25:47.880><c> question</c><00:25:48.240><c> about</c><00:25:48.600><c> the</c>

00:25:49.160 --> 00:25:49.170 align:start position:0%
presentation I have a question about the
 

00:25:49.170 --> 00:25:52.010 align:start position:0%
presentation I have a question about the
vdf<00:25:49.650><c> so</c><00:25:49.980><c> you</c><00:25:50.520><c> are</c><00:25:50.670><c> using</c><00:25:50.820><c> the</c><00:25:51.059><c> VD</c><00:25:51.300><c> F</c><00:25:51.450><c> which</c><00:25:51.750><c> is</c>

00:25:52.010 --> 00:25:52.020 align:start position:0%
vdf so you are using the VD F which is
 

00:25:52.020 --> 00:25:55.190 align:start position:0%
vdf so you are using the VD F which is
easy<00:25:52.800><c> to</c><00:25:52.920><c> speed</c><00:25:53.309><c> up</c><00:25:53.580><c> using</c><00:25:53.910><c> Asics</c><00:25:54.480><c> right</c><00:25:54.900><c> so</c>

00:25:55.190 --> 00:25:55.200 align:start position:0%
easy to speed up using Asics right so
 

00:25:55.200 --> 00:25:58.250 align:start position:0%
easy to speed up using Asics right so
you<00:25:55.260><c> your</c><00:25:55.679><c> VD</c><00:25:55.950><c> f</c><00:25:56.040><c> is</c><00:25:56.220><c> easily</c><00:25:56.670><c> speeded</c><00:25:57.030><c> up</c><00:25:57.270><c> have</c>

00:25:58.250 --> 00:25:58.260 align:start position:0%
you your VD f is easily speeded up have
 

00:25:58.260 --> 00:25:59.990 align:start position:0%
you your VD f is easily speeded up have
you<00:25:58.350><c> considered</c><00:25:58.650><c> you</c><00:25:59.250><c> know</c><00:25:59.370><c> like</c><00:25:59.670><c> doing</c><00:25:59.910><c> a</c>

00:25:59.990 --> 00:26:00.000 align:start position:0%
you considered you know like doing a
 

00:26:00.000 --> 00:26:02.600 align:start position:0%
you considered you know like doing a
competition<00:26:00.630><c> for</c><00:26:00.870><c> a</c><00:26:01.140><c> VD</c><00:26:01.500><c> f</c><00:26:01.650><c> which</c><00:26:02.070><c> would</c><00:26:02.309><c> be</c><00:26:02.580><c> a</c>

00:26:02.600 --> 00:26:02.610 align:start position:0%
competition for a VD f which would be a
 

00:26:02.610 --> 00:26:05.210 align:start position:0%
competition for a VD f which would be a
sick<00:26:03.030><c> resistant</c><00:26:03.660><c> if</c><00:26:03.870><c> you</c><00:26:04.410><c> like</c><00:26:04.980><c> spending</c>

00:26:05.210 --> 00:26:05.220 align:start position:0%
sick resistant if you like spending
 

00:26:05.220 --> 00:26:07.580 align:start position:0%
sick resistant if you like spending
twenty<00:26:05.670><c> million</c><00:26:05.850><c> dollars</c><00:26:06.270><c> on</c><00:26:06.690><c> the</c><00:26:06.900><c> asic</c><00:26:07.320><c> maybe</c>

00:26:07.580 --> 00:26:07.590 align:start position:0%
twenty million dollars on the asic maybe
 

00:26:07.590 --> 00:26:09.260 align:start position:0%
twenty million dollars on the asic maybe
you<00:26:07.740><c> can</c><00:26:07.890><c> take</c><00:26:08.040><c> a</c><00:26:08.100><c> million</c><00:26:08.370><c> dollars</c><00:26:08.760><c> and</c><00:26:09.090><c> try</c>

00:26:09.260 --> 00:26:09.270 align:start position:0%
you can take a million dollars and try
 

00:26:09.270 --> 00:26:15.049 align:start position:0%
you can take a million dollars and try
to<00:26:09.330><c> like</c><00:26:10.250><c> but</c><00:26:11.250><c> differently</c><00:26:11.640><c> DFS</c><00:26:12.679><c> right</c><00:26:14.059><c> so</c>

00:26:15.049 --> 00:26:15.059 align:start position:0%
to like but differently DFS right so
 

00:26:15.059 --> 00:26:17.450 align:start position:0%
to like but differently DFS right so
there<00:26:15.660><c> are</c><00:26:15.750><c> different</c><00:26:16.200><c> VD</c><00:26:16.710><c> f</c><00:26:16.890><c> constructions</c>

00:26:17.450 --> 00:26:17.460 align:start position:0%
there are different VD f constructions
 

00:26:17.460 --> 00:26:19.130 align:start position:0%
there are different VD f constructions
and<00:26:17.670><c> there's</c><00:26:17.850><c> some</c><00:26:18.179><c> VD</c><00:26:18.390><c> f</c><00:26:18.570><c> which</c><00:26:18.720><c> are</c><00:26:18.840><c> known</c><00:26:18.990><c> as</c>

00:26:19.130 --> 00:26:19.140 align:start position:0%
and there's some VD f which are known as
 

00:26:19.140 --> 00:26:21.650 align:start position:0%
and there's some VD f which are known as
protovision<00:26:19.650><c> swear</c><00:26:20.429><c> instead</c><00:26:21.210><c> of</c><00:26:21.330><c> having</c><00:26:21.480><c> an</c>

00:26:21.650 --> 00:26:21.660 align:start position:0%
protovision swear instead of having an
 

00:26:21.660 --> 00:26:24.799 align:start position:0%
protovision swear instead of having an
exponential<00:26:22.350><c> gap</c><00:26:22.559><c> between</c><00:26:23.330><c> the</c><00:26:24.330><c> prover</c><00:26:24.690><c> and</c>

00:26:24.799 --> 00:26:24.809 align:start position:0%
exponential gap between the prover and
 

00:26:24.809 --> 00:26:26.360 align:start position:0%
exponential gap between the prover and
the<00:26:24.870><c> verifier</c><00:26:25.260><c> you</c><00:26:25.530><c> only</c><00:26:25.679><c> have</c><00:26:25.920><c> a</c><00:26:25.950><c> constant</c>

00:26:26.360 --> 00:26:26.370 align:start position:0%
the verifier you only have a constant
 

00:26:26.370 --> 00:26:28.910 align:start position:0%
the verifier you only have a constant
gap<00:26:26.520><c> and</c><00:26:26.790><c> one</c><00:26:27.570><c> of</c><00:26:27.690><c> the</c><00:26:27.780><c> teams</c><00:26:28.050><c> blockchain</c>

00:26:28.910 --> 00:26:28.920 align:start position:0%
gap and one of the teams blockchain
 

00:26:28.920 --> 00:26:31.310 align:start position:0%
gap and one of the teams blockchain
teams<00:26:29.160><c> is</c><00:26:29.400><c> called</c><00:26:29.820><c> Solana</c><00:26:30.210><c> they</c><00:26:30.840><c> actually</c><00:26:31.170><c> go</c>

00:26:31.310 --> 00:26:31.320 align:start position:0%
teams is called Solana they actually go
 

00:26:31.320 --> 00:26:34.340 align:start position:0%
teams is called Solana they actually go
in<00:26:31.440><c> that</c><00:26:31.590><c> way</c><00:26:31.770><c> so</c><00:26:31.800><c> they're</c><00:26:32.730><c> using</c><00:26:33.350><c> repeated</c>

00:26:34.340 --> 00:26:34.350 align:start position:0%
in that way so they're using repeated
 

00:26:34.350 --> 00:26:38.600 align:start position:0%
in that way so they're using repeated
shout<00:26:35.340><c> 256</c><00:26:36.059><c> I</c><00:26:36.179><c> believe</c><00:26:36.450><c> as</c><00:26:36.720><c> the</c><00:26:37.140><c> vdf</c><00:26:37.559><c> and</c><00:26:37.890><c> in</c>

00:26:38.600 --> 00:26:38.610 align:start position:0%
shout 256 I believe as the vdf and in
 

00:26:38.610 --> 00:26:40.549 align:start position:0%
shout 256 I believe as the vdf and in
order<00:26:38.850><c> to</c><00:26:38.940><c> allow</c><00:26:39.240><c> for</c><00:26:39.270><c> parallel</c><00:26:39.870><c> verification</c>

00:26:40.549 --> 00:26:40.559 align:start position:0%
order to allow for parallel verification
 

00:26:40.559 --> 00:26:43.460 align:start position:0%
order to allow for parallel verification
they<00:26:40.740><c> have</c><00:26:41.010><c> these</c><00:26:41.300><c> checkpoints</c><00:26:42.300><c> and</c><00:26:42.750><c> then</c>

00:26:43.460 --> 00:26:43.470 align:start position:0%
they have these checkpoints and then
 

00:26:43.470 --> 00:26:46.100 align:start position:0%
they have these checkpoints and then
they<00:26:43.620><c> use</c><00:26:43.800><c> GPUs</c><00:26:44.429><c> for</c><00:26:45.390><c> the</c><00:26:45.480><c> massively</c><00:26:45.900><c> parallel</c>

00:26:46.100 --> 00:26:46.110 align:start position:0%
they use GPUs for the massively parallel
 

00:26:46.110 --> 00:26:48.799 align:start position:0%
they use GPUs for the massively parallel
verification<00:26:47.010><c> and</c><00:26:47.160><c> the</c><00:26:47.330><c> assumption</c><00:26:48.330><c> there</c><00:26:48.570><c> is</c>

00:26:48.799 --> 00:26:48.809 align:start position:0%
verification and the assumption there is
 

00:26:48.809 --> 00:26:51.620 align:start position:0%
verification and the assumption there is
that<00:26:49.040><c> you</c><00:26:50.040><c> know</c><00:26:50.130><c> Intel</c><00:26:50.580><c> is</c><00:26:50.850><c> very</c><00:26:51.059><c> good</c><00:26:51.390><c> at</c>

00:26:51.620 --> 00:26:51.630 align:start position:0%
that you know Intel is very good at
 

00:26:51.630 --> 00:26:57.310 align:start position:0%
that you know Intel is very good at
designing<00:26:53.690><c> sha-256</c><00:26:54.690><c> instructions</c>

00:26:57.310 --> 00:26:57.320 align:start position:0%
designing sha-256 instructions
 

00:26:57.320 --> 00:27:03.830 align:start position:0%
designing sha-256 instructions
and<00:26:58.320><c> what</c><00:26:59.160><c> I</c><00:26:59.190><c> can</c><00:26:59.460><c> tell</c><00:26:59.670><c> you</c><00:26:59.880><c> is</c><00:27:00.120><c> that</c><00:27:00.740><c> I'm</c><00:27:02.840><c> from</c>

00:27:03.830 --> 00:27:03.840 align:start position:0%
and what I can tell you is that I'm from
 

00:27:03.840 --> 00:27:04.970 align:start position:0%
and what I can tell you is that I'm from
the<00:27:03.930><c> little</c><00:27:04.230><c> that</c><00:27:04.350><c> I</c><00:27:04.410><c> know</c><00:27:04.470><c> about</c><00:27:04.770><c> the</c>

00:27:04.970 --> 00:27:04.980 align:start position:0%
the little that I know about the
 

00:27:04.980 --> 00:27:06.560 align:start position:0%
the little that I know about the
hardware<00:27:05.400><c> from</c><00:27:05.580><c> studying</c><00:27:06.000><c> for</c><00:27:06.180><c> the</c><00:27:06.240><c> last</c><00:27:06.360><c> few</c>

00:27:06.560 --> 00:27:06.570 align:start position:0%
hardware from studying for the last few
 

00:27:06.570 --> 00:27:08.570 align:start position:0%
hardware from studying for the last few
months<00:27:06.660><c> I</c><00:27:06.960><c> might</c><00:27:07.620><c> be</c><00:27:08.040><c> actually</c><00:27:08.370><c> very</c>

00:27:08.570 --> 00:27:08.580 align:start position:0%
months I might be actually very
 

00:27:08.580 --> 00:27:10.720 align:start position:0%
months I might be actually very
surprised<00:27:09.030><c> if</c><00:27:09.270><c> Intel</c><00:27:09.660><c> has</c><00:27:09.930><c> an</c><00:27:10.050><c> optimal</c>

00:27:10.720 --> 00:27:10.730 align:start position:0%
surprised if Intel has an optimal
 

00:27:10.730 --> 00:27:14.780 align:start position:0%
surprised if Intel has an optimal
implementation<00:27:11.730><c> like</c><00:27:12.540><c> initially</c><00:27:13.290><c> I</c><00:27:13.860><c> was</c><00:27:14.520><c> I</c>

00:27:14.780 --> 00:27:14.790 align:start position:0%
implementation like initially I was I
 

00:27:14.790 --> 00:27:17.060 align:start position:0%
implementation like initially I was I
was<00:27:15.150><c> thinking</c><00:27:15.570><c> that</c><00:27:15.600><c> you</c><00:27:16.560><c> know</c><00:27:16.680><c> modular</c>

00:27:17.060 --> 00:27:17.070 align:start position:0%
was thinking that you know modular
 

00:27:17.070 --> 00:27:20.600 align:start position:0%
was thinking that you know modular
multiplication<00:27:17.760><c> with</c><00:27:18.770><c> 4s</c><00:27:19.770><c> 2008</c><00:27:20.340><c> modular</c>

00:27:20.600 --> 00:27:20.610 align:start position:0%
multiplication with 4s 2008 modular
 

00:27:20.610 --> 00:27:22.640 align:start position:0%
multiplication with 4s 2008 modular
modification<00:27:21.060><c> would</c><00:27:21.210><c> take</c><00:27:21.330><c> maybe</c><00:27:21.450><c> 10</c><00:27:22.140><c> or</c><00:27:22.170><c> 20</c>

00:27:22.640 --> 00:27:22.650 align:start position:0%
modification would take maybe 10 or 20
 

00:27:22.650 --> 00:27:24.650 align:start position:0%
modification would take maybe 10 or 20
nanoseconds<00:27:23.340><c> now</c><00:27:23.790><c> we</c><00:27:23.850><c> got</c><00:27:24.090><c> it</c><00:27:24.180><c> down</c><00:27:24.300><c> to</c><00:27:24.360><c> 2</c>

00:27:24.650 --> 00:27:24.660 align:start position:0%
nanoseconds now we got it down to 2
 

00:27:24.660 --> 00:27:26.690 align:start position:0%
nanoseconds now we got it down to 2
nanoseconds<00:27:25.290><c> and</c><00:27:25.440><c> there's</c><00:27:25.650><c> these</c><00:27:25.770><c> you</c><00:27:26.610><c> know</c>

00:27:26.690 --> 00:27:26.700 align:start position:0%
nanoseconds and there's these you know
 

00:27:26.700 --> 00:27:30.230 align:start position:0%
nanoseconds and there's these you know
pretty<00:27:27.890><c> fancy</c><00:27:28.890><c> optimizations</c><00:27:29.580><c> which</c><00:27:29.850><c> I</c><00:27:30.030><c> don't</c>

00:27:30.230 --> 00:27:30.240 align:start position:0%
pretty fancy optimizations which I don't
 

00:27:30.240 --> 00:27:34.630 align:start position:0%
pretty fancy optimizations which I don't
expect<00:27:30.720><c> Intel</c><00:27:31.230><c> to</c><00:27:31.920><c> do</c><00:27:32.130><c> necessarily</c><00:27:33.380><c> you</c><00:27:34.380><c> know</c>

00:27:34.630 --> 00:27:34.640 align:start position:0%
expect Intel to do necessarily you know
 

00:27:34.640 --> 00:27:37.760 align:start position:0%
expect Intel to do necessarily you know
you<00:27:35.640><c> have</c><00:27:35.820><c> a</c><00:27:35.850><c> trade-off</c><00:27:36.180><c> between</c><00:27:36.770><c> latency</c>

00:27:37.760 --> 00:27:37.770 align:start position:0%
you have a trade-off between latency
 

00:27:37.770 --> 00:27:40.790 align:start position:0%
you have a trade-off between latency
power<00:27:38.490><c> area</c><00:27:39.090><c> and</c><00:27:39.390><c> an</c><00:27:39.960><c> Intel</c><00:27:40.260><c> is</c><00:27:40.410><c> trying</c><00:27:40.650><c> to</c>

00:27:40.790 --> 00:27:40.800 align:start position:0%
power area and an Intel is trying to
 

00:27:40.800 --> 00:27:42.530 align:start position:0%
power area and an Intel is trying to
find<00:27:41.010><c> something</c><00:27:41.280><c> reasonable</c><00:27:41.700><c> we</c><00:27:41.910><c> only</c><00:27:42.180><c> want</c>

00:27:42.530 --> 00:27:42.540 align:start position:0%
find something reasonable we only want
 

00:27:42.540 --> 00:27:48.350 align:start position:0%
find something reasonable we only want
to<00:27:42.690><c> optimize</c><00:27:43.380><c> latency</c><00:27:45.950><c> hey</c><00:27:46.950><c> Justin</c><00:27:47.490><c> um</c><00:27:47.670><c> just</c><00:27:48.210><c> a</c>

00:27:48.350 --> 00:27:48.360 align:start position:0%
to optimize latency hey Justin um just a
 

00:27:48.360 --> 00:27:51.830 align:start position:0%
to optimize latency hey Justin um just a
quick<00:27:48.600><c> question</c><00:27:48.780><c> about</c><00:27:49.460><c> about</c><00:27:50.460><c> the</c><00:27:50.550><c> vdf</c><00:27:50.940><c> so</c><00:27:51.570><c> so</c>

00:27:51.830 --> 00:27:51.840 align:start position:0%
quick question about about the vdf so so
 

00:27:51.840 --> 00:27:53.570 align:start position:0%
quick question about about the vdf so so
one<00:27:51.990><c> of</c><00:27:52.080><c> the</c><00:27:52.140><c> inputs</c><00:27:52.440><c> is</c><00:27:52.560><c> a</c><00:27:52.890><c> difficulty</c>

00:27:53.570 --> 00:27:53.580 align:start position:0%
one of the inputs is a difficulty
 

00:27:53.580 --> 00:27:56.150 align:start position:0%
one of the inputs is a difficulty
setting<00:27:53.940><c> so</c><00:27:54.780><c> so</c><00:27:55.410><c> can</c><00:27:55.560><c> you</c><00:27:55.650><c> talk</c><00:27:55.800><c> just</c><00:27:55.980><c> a</c><00:27:56.130><c> little</c>

00:27:56.150 --> 00:27:56.160 align:start position:0%
setting so so can you talk just a little
 

00:27:56.160 --> 00:27:58.870 align:start position:0%
setting so so can you talk just a little
bit<00:27:56.370><c> about</c><00:27:56.670><c> how</c><00:27:57.240><c> that's</c><00:27:57.480><c> calculated</c><00:27:57.960><c> and</c>

00:27:58.870 --> 00:27:58.880 align:start position:0%
bit about how that's calculated and
 

00:27:58.880 --> 00:28:01.460 align:start position:0%
bit about how that's calculated and
maybe<00:27:59.880><c> possibly</c><00:28:00.150><c> what</c><00:28:00.480><c> the</c><00:28:00.600><c> implications</c><00:28:01.230><c> are</c>

00:28:01.460 --> 00:28:01.470 align:start position:0%
maybe possibly what the implications are
 

00:28:01.470 --> 00:28:03.590 align:start position:0%
maybe possibly what the implications are
is<00:28:01.710><c> there</c><00:28:01.920><c> an</c><00:28:02.010><c> attack</c><00:28:02.220><c> vector</c><00:28:02.280><c> there</c><00:28:02.910><c> possibly</c>

00:28:03.590 --> 00:28:03.600 align:start position:0%
is there an attack vector there possibly
 

00:28:03.600 --> 00:28:11.480 align:start position:0%
is there an attack vector there possibly
could<00:28:03.750><c> it</c><00:28:03.930><c> be</c><00:28:04.020><c> manipulated</c><00:28:05.810><c> right</c><00:28:07.520><c> so</c><00:28:09.620><c> the</c><00:28:10.620><c> the</c>

00:28:11.480 --> 00:28:11.490 align:start position:0%
could it be manipulated right so the the
 

00:28:11.490 --> 00:28:13.370 align:start position:0%
could it be manipulated right so the the
the<00:28:12.150><c> a</c><00:28:12.180><c> max</c><00:28:12.540><c> assumption</c><00:28:12.990><c> that</c><00:28:13.140><c> I've</c><00:28:13.230><c> been</c>

00:28:13.370 --> 00:28:13.380 align:start position:0%
the a max assumption that I've been
 

00:28:13.380 --> 00:28:16.490 align:start position:0%
the a max assumption that I've been
talking<00:28:13.770><c> about</c><00:28:14.420><c> we</c><00:28:15.420><c> believe</c><00:28:15.690><c> we</c><00:28:15.900><c> can</c><00:28:16.020><c> have</c><00:28:16.350><c> it</c>

00:28:16.490 --> 00:28:16.500 align:start position:0%
talking about we believe we can have it
 

00:28:16.500 --> 00:28:18.950 align:start position:0%
talking about we believe we can have it
hold<00:28:16.740><c> for</c><00:28:16.890><c> at</c><00:28:17.100><c> least</c><00:28:17.280><c> five</c><00:28:17.580><c> years</c><00:28:17.610><c> so</c><00:28:18.540><c> for</c><00:28:18.870><c> at</c>

00:28:18.950 --> 00:28:18.960 align:start position:0%
hold for at least five years so for at
 

00:28:18.960 --> 00:28:21.700 align:start position:0%
hold for at least five years so for at
least<00:28:19.140><c> five</c><00:28:19.410><c> years</c><00:28:19.440><c> we</c><00:28:19.950><c> won't</c><00:28:20.160><c> need</c><00:28:20.400><c> anymore</c>

00:28:21.700 --> 00:28:21.710 align:start position:0%
least five years we won't need anymore
 

00:28:21.710 --> 00:28:24.950 align:start position:0%
least five years we won't need anymore
Asics<00:28:22.760><c> and</c><00:28:23.760><c> we</c><00:28:23.910><c> won't</c><00:28:24.090><c> need</c><00:28:24.300><c> a</c><00:28:24.360><c> difficulty</c>

00:28:24.950 --> 00:28:24.960 align:start position:0%
Asics and we won't need a difficulty
 

00:28:24.960 --> 00:28:29.870 align:start position:0%
Asics and we won't need a difficulty
adjustment<00:28:25.410><c> scheme</c><00:28:25.620><c> and</c><00:28:28.070><c> once</c><00:28:29.070><c> we</c><00:28:29.280><c> have</c><00:28:29.550><c> the</c>

00:28:29.870 --> 00:28:29.880 align:start position:0%
adjustment scheme and once we have the
 

00:28:29.880 --> 00:28:31.730 align:start position:0%
adjustment scheme and once we have the
length<00:28:30.090><c> of</c><00:28:30.330><c> the</c><00:28:30.480><c> random</c><00:28:30.840><c> epoch</c><00:28:31.200><c> which</c><00:28:31.500><c> is</c>

00:28:31.730 --> 00:28:31.740 align:start position:0%
length of the random epoch which is
 

00:28:31.740 --> 00:28:34.160 align:start position:0%
length of the random epoch which is
probably<00:28:32.640><c> going</c><00:28:32.880><c> to</c><00:28:33.000><c> be</c><00:28:33.150><c> something</c><00:28:33.480><c> like</c><00:28:33.660><c> 17</c>

00:28:34.160 --> 00:28:34.170 align:start position:0%
probably going to be something like 17
 

00:28:34.170 --> 00:28:36.140 align:start position:0%
probably going to be something like 17
minutes<00:28:34.470><c> and</c><00:28:34.680><c> we</c><00:28:34.950><c> know</c><00:28:35.100><c> a</c><00:28:35.130><c> Mac</c><00:28:35.520><c> so</c><00:28:35.730><c> for</c><00:28:35.850><c> example</c>

00:28:36.140 --> 00:28:36.150 align:start position:0%
minutes and we know a Mac so for example
 

00:28:36.150 --> 00:28:39.050 align:start position:0%
minutes and we know a Mac so for example
MX<00:28:36.420><c> equals</c><00:28:36.690><c> 10</c><00:28:36.930><c> then</c><00:28:37.620><c> we</c><00:28:37.650><c> just</c><00:28:38.010><c> set</c><00:28:38.310><c> difficulty</c>

00:28:39.050 --> 00:28:39.060 align:start position:0%
MX equals 10 then we just set difficulty
 

00:28:39.060 --> 00:28:42.380 align:start position:0%
MX equals 10 then we just set difficulty
to<00:28:39.330><c> take</c><00:28:39.510><c> a</c><00:28:39.540><c> hundred</c><00:28:39.840><c> and</c><00:28:40.110><c> seventy</c><00:28:40.620><c> minutes</c><00:28:41.390><c> on</c>

00:28:42.380 --> 00:28:42.390 align:start position:0%
to take a hundred and seventy minutes on
 

00:28:42.390 --> 00:28:45.650 align:start position:0%
to take a hundred and seventy minutes on
the<00:28:42.690><c> commodity</c><00:28:43.140><c> hardware</c><00:28:43.530><c> so</c><00:28:44.420><c> that's</c><00:28:45.420><c> all</c><00:28:45.540><c> it</c>

00:28:45.650 --> 00:28:45.660 align:start position:0%
the commodity hardware so that's all it
 

00:28:45.660 --> 00:28:51.140 align:start position:0%
the commodity hardware so that's all it
is<00:28:46.850><c> in</c><00:28:48.800><c> if</c><00:28:49.800><c> we</c><00:28:50.070><c> want</c><00:28:50.220><c> to</c><00:28:50.340><c> move</c><00:28:50.610><c> to</c><00:28:50.880><c> a</c><00:28:50.910><c> more</c>

00:28:51.140 --> 00:28:51.150 align:start position:0%
is in if we want to move to a more
 

00:28:51.150 --> 00:28:53.510 align:start position:0%
is in if we want to move to a more
long-term<00:28:51.480><c> solution</c><00:28:52.010><c> where</c><00:28:53.010><c> we</c><00:28:53.130><c> want</c><00:28:53.280><c> to</c><00:28:53.370><c> have</c>

00:28:53.510 --> 00:28:53.520 align:start position:0%
long-term solution where we want to have
 

00:28:53.520 --> 00:28:56.030 align:start position:0%
long-term solution where we want to have
a<00:28:53.550><c> dynamic</c><00:28:54.050><c> difficulty</c><00:28:55.050><c> adjustment</c><00:28:55.740><c> where</c>

00:28:56.030 --> 00:28:56.040 align:start position:0%
a dynamic difficulty adjustment where
 

00:28:56.040 --> 00:28:57.950 align:start position:0%
a dynamic difficulty adjustment where
for<00:28:56.310><c> example</c><00:28:56.400><c> new</c><00:28:56.880><c> hardware</c><00:28:57.360><c> enters</c><00:28:57.810><c> the</c>

00:28:57.950 --> 00:28:57.960 align:start position:0%
for example new hardware enters the
 

00:28:57.960 --> 00:29:00.650 align:start position:0%
for example new hardware enters the
market<00:28:58.110><c> and</c><00:28:58.620><c> we</c><00:28:59.070><c> want</c><00:28:59.310><c> the</c><00:28:59.400><c> difficulty</c><00:28:59.910><c> to</c><00:29:00.240><c> go</c>

00:29:00.650 --> 00:29:00.660 align:start position:0%
market and we want the difficulty to go
 

00:29:00.660 --> 00:29:03.440 align:start position:0%
market and we want the difficulty to go
up<00:29:00.920><c> organically</c><00:29:01.920><c> we</c><00:29:02.730><c> would</c><00:29:02.880><c> need</c><00:29:03.060><c> to</c><00:29:03.120><c> have</c><00:29:03.420><c> a</c>

00:29:03.440 --> 00:29:03.450 align:start position:0%
up organically we would need to have a
 

00:29:03.450 --> 00:29:06.380 align:start position:0%
up organically we would need to have a
difficulty<00:29:04.110><c> adjustment</c><00:29:04.580><c> mechanism</c><00:29:05.580><c> there</c><00:29:05.790><c> it</c>

00:29:06.380 --> 00:29:06.390 align:start position:0%
difficulty adjustment mechanism there it
 

00:29:06.390 --> 00:29:10.190 align:start position:0%
difficulty adjustment mechanism there it
does<00:29:06.600><c> introduce</c><00:29:07.080><c> some</c><00:29:07.790><c> complexity</c><00:29:08.790><c> so</c>

00:29:10.190 --> 00:29:10.200 align:start position:0%
does introduce some complexity so
 

00:29:10.200 --> 00:29:11.840 align:start position:0%
does introduce some complexity so
there<00:29:10.559><c> is</c><00:29:10.710><c> some</c><00:29:10.890><c> trade-off</c><00:29:11.220><c> there</c><00:29:11.429><c> I</c><00:29:11.580><c> mean</c><00:29:11.760><c> I</c>

00:29:11.840 --> 00:29:11.850 align:start position:0%
there is some trade-off there I mean I
 

00:29:11.850 --> 00:29:14.990 align:start position:0%
there is some trade-off there I mean I
wrote<00:29:12.240><c> an</c><00:29:12.390><c> if</c><00:29:12.539><c> research</c><00:29:12.870><c> post</c><00:29:13.309><c> on</c><00:29:14.309><c> the</c><00:29:14.789><c> on</c>

00:29:14.990 --> 00:29:15.000 align:start position:0%
wrote an if research post on the on
 

00:29:15.000 --> 00:29:18.260 align:start position:0%
wrote an if research post on the on
mitigating<00:29:15.480><c> the</c><00:29:15.750><c> main</c><00:29:15.900><c> attack</c><00:29:16.700><c> so</c><00:29:17.700><c> I'm</c><00:29:18.059><c> I</c>

00:29:18.260 --> 00:29:18.270 align:start position:0%
mitigating the main attack so I'm I
 

00:29:18.270 --> 00:29:20.210 align:start position:0%
mitigating the main attack so I'm I
would<00:29:18.419><c> be</c><00:29:18.600><c> welcome</c><00:29:18.929><c> I'm</c><00:29:19.169><c> happy</c><00:29:19.500><c> to</c><00:29:19.650><c> link</c><00:29:20.100><c> it</c><00:29:20.190><c> to</c>

00:29:20.210 --> 00:29:20.220 align:start position:0%
would be welcome I'm happy to link it to
 

00:29:20.220 --> 00:29:23.539 align:start position:0%
would be welcome I'm happy to link it to
you<00:29:20.660><c> just</c><00:29:21.660><c> one</c><00:29:21.840><c> other</c><00:29:21.960><c> question</c><00:29:22.230><c> I</c><00:29:22.830><c> say</c><00:29:23.160><c> say</c>

00:29:23.539 --> 00:29:23.549 align:start position:0%
you just one other question I say say
 

00:29:23.549 --> 00:29:27.200 align:start position:0%
you just one other question I say say
the<00:29:23.700><c> vdf</c><00:29:24.169><c> somehow</c><00:29:25.169><c> goes</c><00:29:25.410><c> off</c><00:29:25.620><c> the</c><00:29:25.770><c> line</c><00:29:26.210><c> is</c>

00:29:27.200 --> 00:29:27.210 align:start position:0%
the vdf somehow goes off the line is
 

00:29:27.210 --> 00:29:30.830 align:start position:0%
the vdf somehow goes off the line is
that<00:29:27.390><c> um</c><00:29:28.250><c> do</c><00:29:29.250><c> you</c><00:29:29.340><c> do</c><00:29:29.580><c> you</c><00:29:29.669><c> have</c><00:29:29.700><c> a</c><00:29:29.850><c> does</c><00:29:30.720><c> that</c>

00:29:30.830 --> 00:29:30.840 align:start position:0%
that um do you do you have a does that
 

00:29:30.840 --> 00:29:32.720 align:start position:0%
that um do you do you have a does that
change<00:29:31.080><c> the</c><00:29:31.169><c> assumptions</c><00:29:31.830><c> do</c><00:29:32.190><c> you</c><00:29:32.280><c> have</c><00:29:32.460><c> a</c><00:29:32.490><c> way</c>

00:29:32.720 --> 00:29:32.730 align:start position:0%
change the assumptions do you have a way
 

00:29:32.730 --> 00:29:35.900 align:start position:0%
change the assumptions do you have a way
to<00:29:33.140><c> account</c><00:29:34.140><c> for</c><00:29:34.260><c> the</c><00:29:34.440><c> fact</c><00:29:34.679><c> that</c><00:29:34.799><c> now</c><00:29:35.039><c> the</c><00:29:35.100><c> the</c>

00:29:35.900 --> 00:29:35.910 align:start position:0%
to account for the fact that now the the
 

00:29:35.910 --> 00:29:42.250 align:start position:0%
to account for the fact that now the the
randomness<00:29:36.390><c> is</c><00:29:36.570><c> coming</c><00:29:37.110><c> from</c><00:29:37.169><c> Rando</c><00:29:39.049><c> yeah</c><00:29:40.049><c> so</c>

00:29:42.250 --> 00:29:42.260 align:start position:0%
randomness is coming from Rando yeah so
 

00:29:42.260 --> 00:29:44.840 align:start position:0%
randomness is coming from Rando yeah so
so<00:29:43.260><c> in</c><00:29:43.650><c> this</c><00:29:43.890><c> slide</c><00:29:44.039><c> we're</c><00:29:44.549><c> basically</c>

00:29:44.840 --> 00:29:44.850 align:start position:0%
so in this slide we're basically
 

00:29:44.850 --> 00:29:47.500 align:start position:0%
so in this slide we're basically
recursively<00:29:45.659><c> using</c><00:29:46.080><c> the</c><00:29:46.169><c> randomness</c><00:29:46.679><c> to</c>

00:29:47.500 --> 00:29:47.510 align:start position:0%
recursively using the randomness to
 

00:29:47.510 --> 00:29:50.330 align:start position:0%
recursively using the randomness to
select<00:29:48.510><c> the</c><00:29:48.630><c> next</c><00:29:48.809><c> one</c><00:29:49.020><c> down</c><00:29:49.200><c> and</c><00:29:49.409><c> if</c><00:29:49.830><c> the</c>

00:29:50.330 --> 00:29:50.340 align:start position:0%
select the next one down and if the
 

00:29:50.340 --> 00:29:53.000 align:start position:0%
select the next one down and if the
randomness<00:29:50.820><c> doesn't</c><00:29:51.419><c> come</c><00:29:51.659><c> on</c><00:29:51.900><c> unchain</c><00:29:52.620><c> soon</c>

00:29:53.000 --> 00:29:53.010 align:start position:0%
randomness doesn't come on unchain soon
 

00:29:53.010 --> 00:29:55.669 align:start position:0%
randomness doesn't come on unchain soon
enough<00:29:53.309><c> which</c><00:29:54.000><c> should</c><00:29:54.659><c> not</c><00:29:54.780><c> happen</c><00:29:55.020><c> but</c><00:29:55.500><c> let's</c>

00:29:55.669 --> 00:29:55.679 align:start position:0%
enough which should not happen but let's
 

00:29:55.679 --> 00:29:56.810 align:start position:0%
enough which should not happen but let's
say<00:29:55.890><c> there's</c><00:29:56.070><c> some</c><00:29:56.159><c> sort</c><00:29:56.309><c> exceptional</c>

00:29:56.810 --> 00:29:56.820 align:start position:0%
say there's some sort exceptional
 

00:29:56.820 --> 00:29:59.600 align:start position:0%
say there's some sort exceptional
condition<00:29:57.270><c> then</c><00:29:57.990><c> we</c><00:29:58.020><c> just</c><00:29:58.470><c> use</c><00:29:58.919><c> the</c><00:29:59.159><c> the</c><00:29:59.400><c> blue</c>

00:29:59.600 --> 00:29:59.610 align:start position:0%
condition then we just use the the blue
 

00:29:59.610 --> 00:30:02.240 align:start position:0%
condition then we just use the the blue
dye<00:29:59.850><c> as</c><00:30:00.179><c> opposed</c><00:30:00.720><c> to</c><00:30:00.870><c> the</c><00:30:01.260><c> red</c><00:30:01.409><c> dye</c><00:30:01.590><c> so</c><00:30:01.860><c> we</c><00:30:01.980><c> fall</c>

00:30:02.240 --> 00:30:02.250 align:start position:0%
dye as opposed to the red dye so we fall
 

00:30:02.250 --> 00:30:06.860 align:start position:0%
dye as opposed to the red dye so we fall
back<00:30:02.460><c> on</c><00:30:03.169><c> on</c><00:30:04.169><c> ran'tao</c><00:30:05.150><c> at</c><00:30:06.150><c> the</c><00:30:06.330><c> application</c>

00:30:06.860 --> 00:30:06.870 align:start position:0%
back on on ran'tao at the application
 

00:30:06.870 --> 00:30:09.890 align:start position:0%
back on on ran'tao at the application
layer<00:30:07.049><c> things</c><00:30:07.440><c> are</c><00:30:07.590><c> actually</c><00:30:07.710><c> better</c><00:30:08.270><c> so</c><00:30:09.270><c> the</c>

00:30:09.890 --> 00:30:09.900 align:start position:0%
layer things are actually better so the
 

00:30:09.900 --> 00:30:12.770 align:start position:0%
layer things are actually better so the
in<00:30:10.140><c> the</c><00:30:10.260><c> up</c><00:30:10.380><c> code</c><00:30:10.679><c> you</c><00:30:11.280><c> will</c><00:30:11.429><c> specify</c><00:30:11.760><c> the</c><00:30:12.120><c> the</c>

00:30:12.770 --> 00:30:12.780 align:start position:0%
in the up code you will specify the the
 

00:30:12.780 --> 00:30:15.529 align:start position:0%
in the up code you will specify the the
epoch<00:30:13.200><c> and</c><00:30:13.409><c> it</c><00:30:13.890><c> will</c><00:30:14.039><c> return</c><00:30:14.280><c> you</c><00:30:15.179><c> know</c><00:30:15.299><c> I've</c>

00:30:15.529 --> 00:30:15.539 align:start position:0%
epoch and it will return you know I've
 

00:30:15.539 --> 00:30:18.169 align:start position:0%
epoch and it will return you know I've
no<00:30:15.990><c> randomness</c><00:30:16.559><c> like</c><00:30:16.770><c> zero</c><00:30:17.039><c> zero</c><00:30:17.280><c> zero</c><00:30:17.309><c> or</c><00:30:17.789><c> we</c>

00:30:18.169 --> 00:30:18.179 align:start position:0%
no randomness like zero zero zero or we
 

00:30:18.179 --> 00:30:20.090 align:start position:0%
no randomness like zero zero zero or we
will<00:30:18.360><c> give</c><00:30:18.480><c> you</c><00:30:18.600><c> the</c><00:30:18.690><c> randomness</c><00:30:19.140><c> and</c><00:30:19.289><c> so</c><00:30:19.470><c> you</c>

00:30:20.090 --> 00:30:20.100 align:start position:0%
will give you the randomness and so you
 

00:30:20.100 --> 00:30:21.710 align:start position:0%
will give you the randomness and so you
can<00:30:20.280><c> design</c><00:30:20.429><c> your</c><00:30:20.760><c> application</c><00:30:21.270><c> in</c><00:30:21.539><c> such</c><00:30:21.690><c> a</c>

00:30:21.710 --> 00:30:21.720 align:start position:0%
can design your application in such a
 

00:30:21.720 --> 00:30:23.960 align:start position:0%
can design your application in such a
way<00:30:21.900><c> that</c><00:30:21.929><c> will</c><00:30:22.260><c> just</c><00:30:22.470><c> retry</c><00:30:22.950><c> until</c><00:30:23.820><c> it</c>

00:30:23.960 --> 00:30:23.970 align:start position:0%
way that will just retry until it
 

00:30:23.970 --> 00:30:27.320 align:start position:0%
way that will just retry until it
eventually<00:30:24.120><c> gets</c><00:30:24.630><c> to</c><00:30:24.840><c> randomness</c><00:30:25.970><c> okay</c><00:30:26.970><c> thank</c>

00:30:27.320 --> 00:30:27.330 align:start position:0%
eventually gets to randomness okay thank
 

00:30:27.330 --> 00:30:36.110 align:start position:0%
eventually gets to randomness okay thank
you<00:30:32.030><c> hello</c><00:30:33.530><c> is</c><00:30:34.530><c> there</c><00:30:34.770><c> any</c><00:30:34.890><c> sort</c><00:30:35.130><c> of</c><00:30:35.220><c> incentive</c>

00:30:36.110 --> 00:30:36.120 align:start position:0%
you hello is there any sort of incentive
 

00:30:36.120 --> 00:30:38.299 align:start position:0%
you hello is there any sort of incentive
for<00:30:36.480><c> the</c><00:30:36.929><c> ones</c><00:30:37.140><c> that</c><00:30:37.409><c> you</c><00:30:37.530><c> are</c><00:30:37.559><c> interesting</c>

00:30:38.299 --> 00:30:38.309 align:start position:0%
for the ones that you are interesting
 

00:30:38.309 --> 00:30:40.669 align:start position:0%
for the ones that you are interesting
with<00:30:38.460><c> the</c><00:30:38.580><c> vdf</c><00:30:38.880><c> a6</c><00:30:39.299><c> to</c><00:30:39.900><c> maintain</c><00:30:40.320><c> that</c><00:30:40.500><c> they</c>

00:30:40.669 --> 00:30:40.679 align:start position:0%
with the vdf a6 to maintain that they
 

00:30:40.679 --> 00:30:42.350 align:start position:0%
with the vdf a6 to maintain that they
ensure<00:30:41.190><c> to</c><00:30:41.520><c> ensure</c><00:30:41.789><c> that</c><00:30:41.820><c> they</c><00:30:42.000><c> are</c><00:30:42.030><c> honest</c>

00:30:42.350 --> 00:30:42.360 align:start position:0%
ensure to ensure that they are honest
 

00:30:42.360 --> 00:30:43.850 align:start position:0%
ensure to ensure that they are honest
other<00:30:42.539><c> than</c><00:30:42.690><c> goodwill</c><00:30:43.080><c> and</c><00:30:43.350><c> that</c><00:30:43.679><c> they're</c>

00:30:43.850 --> 00:30:43.860 align:start position:0%
other than goodwill and that they're
 

00:30:43.860 --> 00:30:45.529 align:start position:0%
other than goodwill and that they're
probably<00:30:44.070><c> highly</c><00:30:44.700><c> involved</c><00:30:44.970><c> in</c><00:30:45.179><c> the</c><00:30:45.299><c> scene</c><00:30:45.450><c> as</c>

00:30:45.529 --> 00:30:45.539 align:start position:0%
probably highly involved in the scene as
 

00:30:45.539 --> 00:30:51.279 align:start position:0%
probably highly involved in the scene as
well<00:30:47.510><c> right</c><00:30:48.510><c> so</c><00:30:48.750><c> I</c><00:30:49.049><c> guess</c><00:30:49.409><c> we'll</c><00:30:49.620><c> make</c><00:30:49.799><c> sure</c><00:30:50.010><c> to</c>

00:30:51.279 --> 00:30:51.289 align:start position:0%
well right so I guess we'll make sure to
 

00:30:51.289 --> 00:30:54.500 align:start position:0%
well right so I guess we'll make sure to
widely<00:30:52.289><c> distribute</c><00:30:52.950><c> the</c><00:30:53.100><c> a6</c><00:30:53.490><c> and</c><00:30:53.760><c> one</c><00:30:54.270><c> way</c><00:30:54.450><c> to</c>

00:30:54.500 --> 00:30:54.510 align:start position:0%
widely distribute the a6 and one way to
 

00:30:54.510 --> 00:30:56.649 align:start position:0%
widely distribute the a6 and one way to
do<00:30:54.809><c> that</c><00:30:54.960><c> is</c><00:30:55.200><c> to</c><00:30:55.350><c> just</c><00:30:55.380><c> give</c><00:30:55.679><c> it</c><00:30:55.710><c> away</c><00:30:55.860><c> for</c><00:30:56.130><c> free</c>

00:30:56.649 --> 00:30:56.659 align:start position:0%
do that is to just give it away for free
 

00:30:56.659 --> 00:30:59.510 align:start position:0%
do that is to just give it away for free
there<00:30:57.659><c> will</c><00:30:57.809><c> be</c><00:30:57.840><c> in</c><00:30:58.230><c> protocol</c><00:30:58.590><c> incentives</c><00:30:59.250><c> so</c>

00:30:59.510 --> 00:30:59.520 align:start position:0%
there will be in protocol incentives so
 

00:30:59.520 --> 00:31:03.200 align:start position:0%
there will be in protocol incentives so
the<00:30:59.669><c> easiest</c><00:31:00.059><c> incentive</c><00:31:00.809><c> to</c><00:31:01.520><c> to</c><00:31:02.520><c> implement</c><00:31:03.000><c> is</c>

00:31:03.200 --> 00:31:03.210 align:start position:0%
the easiest incentive to to implement is
 

00:31:03.210 --> 00:31:06.440 align:start position:0%
the easiest incentive to to implement is
to<00:31:04.039><c> provide</c><00:31:05.039><c> a</c><00:31:05.100><c> reward</c><00:31:05.669><c> for</c><00:31:06.090><c> the</c><00:31:06.240><c> block</c>

00:31:06.440 --> 00:31:06.450 align:start position:0%
to provide a reward for the block
 

00:31:06.450 --> 00:31:11.720 align:start position:0%
to provide a reward for the block
proposer<00:31:06.870><c> who</c><00:31:07.530><c> includes</c><00:31:08.419><c> the</c><00:31:09.419><c> the</c><00:31:10.730><c> randomness</c>

00:31:11.720 --> 00:31:11.730 align:start position:0%
proposer who includes the the randomness
 

00:31:11.730 --> 00:31:13.790 align:start position:0%
proposer who includes the the randomness
and<00:31:11.909><c> the</c><00:31:12.030><c> proof</c>

00:31:13.790 --> 00:31:13.800 align:start position:0%
and the proof
 

00:31:13.800 --> 00:31:18.410 align:start position:0%
and the proof
we<00:31:14.700><c> could</c><00:31:14.940><c> also</c><00:31:15.740><c> directly</c><00:31:16.740><c> incentivize</c><00:31:17.670><c> the</c>

00:31:18.410 --> 00:31:18.420 align:start position:0%
we could also directly incentivize the
 

00:31:18.420 --> 00:31:22.190 align:start position:0%
we could also directly incentivize the
evaluator<00:31:19.320><c> by</c><00:31:19.710><c> giving</c><00:31:19.980><c> them</c><00:31:20.130><c> a</c><00:31:20.160><c> reward</c><00:31:20.750><c> and</c><00:31:21.750><c> we</c>

00:31:22.190 --> 00:31:22.200 align:start position:0%
evaluator by giving them a reward and we
 

00:31:22.200 --> 00:31:24.530 align:start position:0%
evaluator by giving them a reward and we
do<00:31:22.350><c> have</c><00:31:22.530><c> schemes</c><00:31:23.010><c> for</c><00:31:23.490><c> that</c><00:31:23.670><c> but</c><00:31:24.180><c> there's</c><00:31:24.420><c> a</c>

00:31:24.530 --> 00:31:24.540 align:start position:0%
do have schemes for that but there's a
 

00:31:24.540 --> 00:31:27.320 align:start position:0%
do have schemes for that but there's a
trade-off<00:31:24.900><c> between</c><00:31:25.730><c> basically</c><00:31:26.730><c> introduces</c>

00:31:27.320 --> 00:31:27.330 align:start position:0%
trade-off between basically introduces
 

00:31:27.330 --> 00:31:29.990 align:start position:0%
trade-off between basically introduces
complexity<00:31:27.930><c> and</c><00:31:28.170><c> more</c><00:31:28.560><c> burden</c><00:31:29.310><c> on</c><00:31:29.460><c> the</c><00:31:29.640><c> beacon</c>

00:31:29.990 --> 00:31:30.000 align:start position:0%
complexity and more burden on the beacon
 

00:31:30.000 --> 00:31:33.080 align:start position:0%
complexity and more burden on the beacon
chain<00:31:30.210><c> so</c><00:31:30.510><c> I</c><00:31:30.750><c> think</c><00:31:31.740><c> it's</c><00:31:32.130><c> reasonable</c><00:31:32.370><c> you</c>

00:31:33.080 --> 00:31:33.090 align:start position:0%
chain so I think it's reasonable you
 

00:31:33.090 --> 00:31:35.330 align:start position:0%
chain so I think it's reasonable you
know<00:31:33.120><c> if</c><00:31:33.330><c> we</c><00:31:33.450><c> have</c><00:31:33.660><c> thousands</c><00:31:34.590><c> of</c><00:31:34.710><c> nodes</c><00:31:34.890><c> of</c>

00:31:35.330 --> 00:31:35.340 align:start position:0%
know if we have thousands of nodes of
 

00:31:35.340 --> 00:31:37.250 align:start position:0%
know if we have thousands of nodes of
EDF<00:31:35.760><c> rigs</c><00:31:36.000><c> distributed</c><00:31:36.510><c> around</c><00:31:36.750><c> the</c><00:31:37.080><c> world</c>

00:31:37.250 --> 00:31:37.260 align:start position:0%
EDF rigs distributed around the world
 

00:31:37.260 --> 00:31:40.330 align:start position:0%
EDF rigs distributed around the world
you<00:31:37.740><c> know</c><00:31:37.830><c> the</c><00:31:37.980><c> foundation</c><00:31:38.490><c> will</c><00:31:38.670><c> run</c><00:31:38.850><c> rigs</c>

00:31:40.330 --> 00:31:40.340 align:start position:0%
you know the foundation will run rigs
 

00:31:40.340 --> 00:31:43.310 align:start position:0%
you know the foundation will run rigs
exchanges<00:31:41.340><c> will</c><00:31:41.490><c> run</c><00:31:41.730><c> rigs</c><00:31:42.140><c> investors</c><00:31:43.140><c> will</c>

00:31:43.310 --> 00:31:43.320 align:start position:0%
exchanges will run rigs investors will
 

00:31:43.320 --> 00:31:45.560 align:start position:0%
exchanges will run rigs investors will
run<00:31:43.530><c> rigs</c><00:31:43.800><c> and</c><00:31:44.190><c> Fuji</c><00:31:44.760><c> as</c><00:31:44.850><c> well</c><00:31:45.030><c> running</c><00:31:45.240><c> rigs</c>

00:31:45.560 --> 00:31:45.570 align:start position:0%
run rigs and Fuji as well running rigs
 

00:31:45.570 --> 00:31:47.240 align:start position:0%
run rigs and Fuji as well running rigs
and<00:31:45.840><c> we</c><00:31:45.930><c> just</c><00:31:46.110><c> need</c><00:31:46.230><c> one</c><00:31:46.260><c> of</c><00:31:46.470><c> them</c><00:31:46.770><c> to</c><00:31:47.040><c> be</c>

00:31:47.240 --> 00:31:47.250 align:start position:0%
and we just need one of them to be
 

00:31:47.250 --> 00:31:49.430 align:start position:0%
and we just need one of them to be
online<00:31:47.490><c> I</c><00:31:47.670><c> think</c><00:31:48.030><c> that's</c><00:31:48.180><c> that's</c><00:31:48.930><c> not</c><00:31:49.080><c> too</c><00:31:49.260><c> bad</c>

00:31:49.430 --> 00:31:49.440 align:start position:0%
online I think that's that's not too bad
 

00:31:49.440 --> 00:31:52.880 align:start position:0%
online I think that's that's not too bad
and<00:31:49.680><c> the</c><00:31:49.860><c> the</c><00:31:50.690><c> incentivization</c><00:31:51.690><c> for</c><00:31:52.470><c> the</c><00:31:52.650><c> blog</c>

00:31:52.880 --> 00:31:52.890 align:start position:0%
and the the incentivization for the blog
 

00:31:52.890 --> 00:31:55.630 align:start position:0%
and the the incentivization for the blog
proposes<00:31:53.340><c> that</c><00:31:53.370><c> it</c><00:31:53.700><c> actually</c><00:31:53.940><c> incentivizes</c>

00:31:55.630 --> 00:31:55.640 align:start position:0%
proposes that it actually incentivizes
 

00:31:55.640 --> 00:31:58.880 align:start position:0%
proposes that it actually incentivizes
sophisticated<00:31:56.640><c> blog</c><00:31:57.630><c> proposals</c><00:31:58.140><c> to</c><00:31:58.290><c> run</c><00:31:58.590><c> a</c>

00:31:58.880 --> 00:31:58.890 align:start position:0%
sophisticated blog proposals to run a
 

00:31:58.890 --> 00:32:01.460 align:start position:0%
sophisticated blog proposals to run a
vdf<00:31:59.700><c> rig</c><00:31:59.940><c> themselves</c><00:32:00.570><c> and</c><00:32:00.780><c> maybe</c><00:32:01.230><c> to</c>

00:32:01.460 --> 00:32:01.470 align:start position:0%
vdf rig themselves and maybe to
 

00:32:01.470 --> 00:32:03.800 align:start position:0%
vdf rig themselves and maybe to
overclock<00:32:02.040><c> it</c><00:32:02.070><c> just</c><00:32:02.550><c> a</c><00:32:02.640><c> little</c><00:32:02.760><c> bit</c><00:32:02.940><c> so</c><00:32:03.630><c> that</c>

00:32:03.800 --> 00:32:03.810 align:start position:0%
overclock it just a little bit so that
 

00:32:03.810 --> 00:32:05.390 align:start position:0%
overclock it just a little bit so that
there'll<00:32:04.050><c> be</c><00:32:04.110><c> slightly</c><00:32:04.710><c> before</c><00:32:05.130><c> everyone</c>

00:32:05.390 --> 00:32:05.400 align:start position:0%
there'll be slightly before everyone
 

00:32:05.400 --> 00:32:08.510 align:start position:0%
there'll be slightly before everyone
else<00:32:05.520><c> and</c><00:32:05.850><c> they'll</c><00:32:06.000><c> get</c><00:32:06.180><c> the</c><00:32:06.360><c> reward</c><00:32:07.520><c> thank</c>

00:32:08.510 --> 00:32:08.520 align:start position:0%
else and they'll get the reward thank
 

00:32:08.520 --> 00:32:13.280 align:start position:0%
else and they'll get the reward thank
you<00:32:08.840><c> one</c><00:32:09.840><c> more</c><00:32:09.960><c> question</c><00:32:10.140><c> so</c><00:32:11.900><c> you</c><00:32:12.900><c> you</c>

00:32:13.280 --> 00:32:13.290 align:start position:0%
you one more question so you you
 

00:32:13.290 --> 00:32:16.360 align:start position:0%
you one more question so you you
suggested<00:32:13.800><c> that</c><00:32:14.040><c> the</c><00:32:14.400><c> the</c><00:32:14.970><c> vdf</c><00:32:15.330><c> rigs</c><00:32:15.600><c> would</c>

00:32:16.360 --> 00:32:16.370 align:start position:0%
suggested that the the vdf rigs would
 

00:32:16.370 --> 00:32:20.420 align:start position:0%
suggested that the the vdf rigs would
upload<00:32:17.370><c> or</c><00:32:17.700><c> would</c><00:32:18.030><c> have</c><00:32:18.180><c> their</c><00:32:19.040><c> output</c><00:32:20.040><c> inside</c>

00:32:20.420 --> 00:32:20.430 align:start position:0%
upload or would have their output inside
 

00:32:20.430 --> 00:32:22.310 align:start position:0%
upload or would have their output inside
of<00:32:20.550><c> the</c><00:32:20.670><c> block</c><00:32:20.880><c> that</c><00:32:21.030><c> they</c><00:32:21.150><c> propose</c><00:32:21.450><c> correct</c>

00:32:22.310 --> 00:32:22.320 align:start position:0%
of the block that they propose correct
 

00:32:22.320 --> 00:32:24.970 align:start position:0%
of the block that they propose correct
that<00:32:23.280><c> the</c><00:32:23.430><c> the</c><00:32:23.760><c> proposers</c><00:32:24.120><c> would</c><00:32:24.300><c> have</c><00:32:24.450><c> their</c>

00:32:24.970 --> 00:32:24.980 align:start position:0%
that the the proposers would have their
 

00:32:24.980 --> 00:32:27.170 align:start position:0%
that the the proposers would have their
vdf<00:32:25.980><c> output</c><00:32:26.310><c> inside</c><00:32:26.640><c> of</c><00:32:26.730><c> what</c><00:32:26.850><c> they</c><00:32:26.940><c> proposed</c>

00:32:27.170 --> 00:32:27.180 align:start position:0%
vdf output inside of what they proposed
 

00:32:27.180 --> 00:32:28.520 align:start position:0%
vdf output inside of what they proposed
and<00:32:27.330><c> get</c><00:32:27.420><c> rewarded</c><00:32:27.750><c> for</c><00:32:27.810><c> that</c><00:32:27.990><c> because</c><00:32:28.410><c> they</c>

00:32:28.520 --> 00:32:28.530 align:start position:0%
and get rewarded for that because they
 

00:32:28.530 --> 00:32:30.380 align:start position:0%
and get rewarded for that because they
they<00:32:28.770><c> were</c><00:32:28.830><c> submitted</c><00:32:29.160><c> at</c><00:32:29.280><c> would</c><00:32:30.000><c> that</c><00:32:30.150><c> imply</c>

00:32:30.380 --> 00:32:30.390 align:start position:0%
they were submitted at would that imply
 

00:32:30.390 --> 00:32:33.170 align:start position:0%
they were submitted at would that imply
that<00:32:30.540><c> these</c><00:32:31.020><c> vdf</c><00:32:31.470><c> Asics</c><00:32:31.920><c> or</c><00:32:32.130><c> rigs</c><00:32:32.490><c> are</c><00:32:32.700><c> running</c>

00:32:33.170 --> 00:32:33.180 align:start position:0%
that these vdf Asics or rigs are running
 

00:32:33.180 --> 00:32:38.720 align:start position:0%
that these vdf Asics or rigs are running
concurrently<00:32:33.570><c> with</c><00:32:34.230><c> the</c><00:32:34.710><c> validators</c><00:32:37.730><c> so</c>

00:32:38.720 --> 00:32:38.730 align:start position:0%
concurrently with the validators so
 

00:32:38.730 --> 00:32:41.570 align:start position:0%
concurrently with the validators so
anyone<00:32:39.210><c> can</c><00:32:39.420><c> be</c><00:32:39.600><c> a</c><00:32:39.680><c> VDI</c><00:32:40.680><c> evaluator</c><00:32:41.220><c> you</c><00:32:41.430><c> don't</c>

00:32:41.570 --> 00:32:41.580 align:start position:0%
anyone can be a VDI evaluator you don't
 

00:32:41.580 --> 00:32:42.860 align:start position:0%
anyone can be a VDI evaluator you don't
have<00:32:41.700><c> to</c><00:32:41.790><c> be</c><00:32:41.880><c> collateralized</c><00:32:42.540><c> you</c><00:32:42.600><c> don't</c><00:32:42.780><c> have</c>

00:32:42.860 --> 00:32:42.870 align:start position:0%
have to be collateralized you don't have
 

00:32:42.870 --> 00:32:45.680 align:start position:0%
have to be collateralized you don't have
to<00:32:42.960><c> be</c><00:32:43.050><c> a</c><00:32:43.080><c> validator</c><00:32:43.590><c> but</c><00:32:44.340><c> in</c><00:32:44.700><c> the</c><00:32:45.360><c> special</c>

00:32:45.680 --> 00:32:45.690 align:start position:0%
to be a validator but in the special
 

00:32:45.690 --> 00:32:47.270 align:start position:0%
to be a validator but in the special
case<00:32:45.870><c> where</c><00:32:46.110><c> you</c><00:32:46.230><c> are</c><00:32:46.410><c> a</c><00:32:46.440><c> validator</c><00:32:46.890><c> and</c><00:32:47.010><c> you</c>

00:32:47.270 --> 00:32:47.280 align:start position:0%
case where you are a validator and you
 

00:32:47.280 --> 00:32:48.860 align:start position:0%
case where you are a validator and you
want<00:32:47.460><c> to</c><00:32:47.550><c> earn</c><00:32:47.700><c> a</c><00:32:47.730><c> little</c><00:32:48.000><c> bit</c><00:32:48.150><c> more</c><00:32:48.300><c> money</c><00:32:48.450><c> and</c>

00:32:48.860 --> 00:32:48.870 align:start position:0%
want to earn a little bit more money and
 

00:32:48.870 --> 00:32:50.840 align:start position:0%
want to earn a little bit more money and
you<00:32:48.930><c> are</c><00:32:49.230><c> sophisticated</c><00:32:49.500><c> you</c><00:32:50.250><c> can</c><00:32:50.430><c> run</c><00:32:50.700><c> the</c>

00:32:50.840 --> 00:32:50.850 align:start position:0%
you are sophisticated you can run the
 

00:32:50.850 --> 00:32:52.910 align:start position:0%
you are sophisticated you can run the
hardware<00:32:51.180><c> in</c><00:32:51.270><c> parallel</c><00:32:51.690><c> and</c><00:32:51.930><c> you</c><00:32:52.320><c> can</c><00:32:52.470><c> try</c><00:32:52.710><c> and</c>

00:32:52.910 --> 00:32:52.920 align:start position:0%
hardware in parallel and you can try and
 

00:32:52.920 --> 00:32:55.430 align:start position:0%
hardware in parallel and you can try and
and<00:32:53.220><c> make</c><00:32:53.790><c> it</c><00:32:53.910><c> run</c><00:32:54.030><c> slightly</c><00:32:54.240><c> faster</c><00:32:54.780><c> and</c><00:32:55.350><c> you</c>

00:32:55.430 --> 00:32:55.440 align:start position:0%
and make it run slightly faster and you
 

00:32:55.440 --> 00:32:58.640 align:start position:0%
and make it run slightly faster and you
know<00:32:55.530><c> make</c><00:32:55.680><c> me</c><00:32:55.830><c> cool</c><00:32:56.070><c> it</c><00:32:56.220><c> a</c><00:32:56.280><c> bit</c><00:32:56.430><c> better</c><00:32:57.650><c> you</c>

00:32:58.640 --> 00:32:58.650 align:start position:0%
know make me cool it a bit better you
 

00:32:58.650 --> 00:32:59.540 align:start position:0%
know make me cool it a bit better you
know<00:32:58.740><c> one</c><00:32:58.890><c> of</c><00:32:58.920><c> the</c><00:32:59.100><c> things</c><00:32:59.130><c> that</c><00:32:59.370><c> would</c><00:32:59.430><c> be</c>

00:32:59.540 --> 00:32:59.550 align:start position:0%
know one of the things that would be
 

00:32:59.550 --> 00:33:02.750 align:start position:0%
know one of the things that would be
cool<00:32:59.790><c> on</c><00:32:59.820><c> this</c><00:33:00.720><c> question</c><00:33:01.080><c> is</c><00:33:01.400><c> if</c><00:33:02.400><c> we</c><00:33:02.670><c> could</c>

00:33:02.750 --> 00:33:02.760 align:start position:0%
cool on this question is if we could
 

00:33:02.760 --> 00:33:04.100 align:start position:0%
cool on this question is if we could
have<00:33:02.910><c> one</c><00:33:03.060><c> of</c><00:33:03.090><c> the</c><00:33:03.270><c> rigs</c><00:33:03.510><c> and</c><00:33:03.750><c> a</c><00:33:03.780><c> satellite</c>

00:33:04.100 --> 00:33:04.110 align:start position:0%
have one of the rigs and a satellite
 

00:33:04.110 --> 00:33:06.410 align:start position:0%
have one of the rigs and a satellite
around<00:33:04.680><c> the</c><00:33:04.800><c> world</c><00:33:04.980><c> you</c><00:33:05.880><c> know</c><00:33:05.970><c> at</c><00:33:06.120><c> least</c><00:33:06.240><c> we</c>

00:33:06.410 --> 00:33:06.420 align:start position:0%
around the world you know at least we
 

00:33:06.420 --> 00:33:08.260 align:start position:0%
around the world you know at least we
have<00:33:06.540><c> this</c><00:33:06.720><c> one</c><00:33:06.930><c> no</c><00:33:07.170><c> that's</c><00:33:07.440><c> that's</c><00:33:07.710><c> online</c>

00:33:08.260 --> 00:33:08.270 align:start position:0%
have this one no that's that's online
 

00:33:08.270 --> 00:33:12.440 align:start position:0%
have this one no that's that's online
thank<00:33:09.270><c> you</c><00:33:10.160><c> well</c><00:33:11.160><c> I'm</c><00:33:11.400><c> out</c><00:33:11.610><c> of</c><00:33:11.640><c> time</c><00:33:12.000><c> I'm</c><00:33:12.240><c> so</c>

00:33:12.440 --> 00:33:12.450 align:start position:0%
thank you well I'm out of time I'm so
 

00:33:12.450 --> 00:33:14.570 align:start position:0%
thank you well I'm out of time I'm so
sorry<00:33:12.660><c> I'm</c><00:33:13.320><c> more</c><00:33:13.680><c> than</c><00:33:13.770><c> happy</c><00:33:14.040><c> to</c><00:33:14.160><c> speak</c><00:33:14.460><c> about</c>

00:33:14.570 --> 00:33:14.580 align:start position:0%
sorry I'm more than happy to speak about
 

00:33:14.580 --> 00:33:17.090 align:start position:0%
sorry I'm more than happy to speak about
this<00:33:14.910><c> all</c><00:33:15.090><c> day</c><00:33:15.210><c> long</c><00:33:15.240><c> so</c><00:33:15.960><c> please</c><00:33:15.990><c> come</c><00:33:16.500><c> come</c><00:33:16.950><c> to</c>

00:33:17.090 --> 00:33:17.100 align:start position:0%
this all day long so please come come to
 

00:33:17.100 --> 00:33:20.310 align:start position:0%
this all day long so please come come to
me<00:33:17.220><c> after</c><00:33:17.880><c> the</c><00:33:17.940><c> talk</c><00:33:17.970><c> thank</c><00:33:18.540><c> you</c>

00:33:20.310 --> 00:33:20.320 align:start position:0%
me after the talk thank you
 

00:33:20.320 --> 00:33:31.039 align:start position:0%
me after the talk thank you
you

00:33:31.039 --> 00:33:31.049 align:start position:0%
 
 

00:33:31.049 --> 00:33:33.110 align:start position:0%
 
you