WEBVTT Kind: captions Language: en 00:00:05.220 --> 00:00:08.610 align:start position:0% welcome<00:00:06.220> to<00:00:06.430> our<00:00:06.700> presentation<00:00:07.389> on<00:00:07.620> trustless 00:00:08.610 --> 00:00:08.620 align:start position:0% welcome to our presentation on trustless 00:00:08.620 --> 00:00:12.029 align:start position:0% welcome to our presentation on trustless validator<00:00:09.190> pools<00:00:09.519> and<00:00:09.820> eath<00:00:09.910> 2.0<00:00:10.619> I'm<00:00:11.619> Dan 00:00:12.029 --> 00:00:12.039 align:start position:0% validator pools and eath 2.0 I'm Dan 00:00:12.039 --> 00:00:14.070 align:start position:0% validator pools and eath 2.0 I'm Dan Carfi<00:00:12.280> stand<00:00:12.790> this<00:00:12.940> is<00:00:13.120> my<00:00:13.269> colleague<00:00:13.480> Carl 00:00:14.070 --> 00:00:14.080 align:start position:0% Carfi stand this is my colleague Carl 00:00:14.080 --> 00:00:16.560 align:start position:0% Carfi stand this is my colleague Carl Beck<00:00:14.259> who<00:00:14.379> isn't<00:00:14.650> we<00:00:14.799> are<00:00:14.860> both<00:00:15.570> researchers 00:00:16.560 --> 00:00:16.570 align:start position:0% Beck who isn't we are both researchers 00:00:16.570 --> 00:00:20.370 align:start position:0% Beck who isn't we are both researchers and<00:00:16.900> is<00:00:17.230> 2.0<00:00:17.740> research<00:00:18.039> team<00:00:18.279> and<00:00:19.169> we'd<00:00:20.169> like 00:00:20.370 --> 00:00:20.380 align:start position:0% and is 2.0 research team and we'd like 00:00:20.380 --> 00:00:25.560 align:start position:0% and is 2.0 research team and we'd like to<00:00:21.130> talk<00:00:22.060> a<00:00:22.090> bit<00:00:22.180> about<00:00:22.300> our<00:00:24.119> efforts<00:00:25.119> to<00:00:25.420> make 00:00:25.560 --> 00:00:25.570 align:start position:0% to talk a bit about our efforts to make 00:00:25.570 --> 00:00:28.710 align:start position:0% to talk a bit about our efforts to make trust<00:00:26.349> less<00:00:26.529> staking<00:00:27.090> possible<00:00:28.090> in<00:00:28.150> its<00:00:28.269> 2.0 00:00:28.710 --> 00:00:28.720 align:start position:0% trust less staking possible in its 2.0 00:00:28.720 --> 00:00:30.599 align:start position:0% trust less staking possible in its 2.0 why<00:00:28.929> we're<00:00:29.140> doing<00:00:29.259> this<00:00:29.529> what<00:00:29.980> we<00:00:30.160> how<00:00:30.550> we 00:00:30.599 --> 00:00:30.609 align:start position:0% why we're doing this what we how we 00:00:30.609 --> 00:00:32.910 align:start position:0% why we're doing this what we how we design<00:00:31.029> the<00:00:31.210> protocol<00:00:31.689> to<00:00:32.169> make<00:00:32.199> as<00:00:32.500> possible 00:00:32.910 --> 00:00:32.920 align:start position:0% design the protocol to make as possible 00:00:32.920 --> 00:00:35.880 align:start position:0% design the protocol to make as possible and<00:00:33.129> then<00:00:33.339> in<00:00:33.610> the<00:00:33.730> end<00:00:33.850> like<00:00:34.120> Kyle<00:00:35.050> will<00:00:35.350> talk 00:00:35.880 --> 00:00:35.890 align:start position:0% and then in the end like Kyle will talk 00:00:35.890 --> 00:00:39.240 align:start position:0% and then in the end like Kyle will talk about<00:00:36.070> the<00:00:36.970> actual<00:00:37.920> implementation<00:00:38.920> of<00:00:39.010> this 00:00:39.240 --> 00:00:39.250 align:start position:0% about the actual implementation of this 00:00:39.250 --> 00:00:43.799 align:start position:0% about the actual implementation of this how<00:00:39.430> it<00:00:39.940> would<00:00:40.089> work<00:00:42.180> so<00:00:43.180> yeah<00:00:43.330> this<00:00:43.510> is<00:00:43.570> the 00:00:43.799 --> 00:00:43.809 align:start position:0% how it would work so yeah this is the 00:00:43.809 --> 00:00:46.500 align:start position:0% how it would work so yeah this is the outline<00:00:44.140> of<00:00:44.170> the<00:00:44.379> talk<00:00:44.559> so<00:00:44.949> like<00:00:45.510> motivation 00:00:46.500 --> 00:00:46.510 align:start position:0% outline of the talk so like motivation 00:00:46.510 --> 00:00:48.930 align:start position:0% outline of the talk so like motivation why<00:00:46.960> why<00:00:47.320> do<00:00:47.379> we<00:00:47.619> need<00:00:47.739> to<00:00:47.890> trust<00:00:48.100> less<00:00:48.339> staking 00:00:48.930 --> 00:00:48.940 align:start position:0% why why do we need to trust less staking 00:00:48.940 --> 00:00:51.660 align:start position:0% why why do we need to trust less staking pools<00:00:49.150> by<00:00:49.360> why<00:00:49.780> we<00:00:49.930> want<00:00:50.170> this<00:00:50.379> as<00:00:50.559> a<00:00:50.670> primary 00:00:51.660 --> 00:00:51.670 align:start position:0% pools by why we want this as a primary 00:00:51.670 --> 00:00:55.289 align:start position:0% pools by why we want this as a primary goal<00:00:52.030> and<00:00:52.210> it's<00:00:52.360> 2.0<00:00:53.369> then<00:00:54.369> like<00:00:54.699> how<00:00:55.030> do<00:00:55.089> you 00:00:55.289 --> 00:00:55.299 align:start position:0% goal and it's 2.0 then like how do you 00:00:55.299 --> 00:00:58.619 align:start position:0% goal and it's 2.0 then like how do you design<00:00:55.479> a<00:00:56.129> protocol<00:00:57.129> so<00:00:57.549> like<00:00:57.729> the<00:00:57.909> technology 00:00:58.619 --> 00:00:58.629 align:start position:0% design a protocol so like the technology 00:00:58.629 --> 00:01:01.740 align:start position:0% design a protocol so like the technology basically<00:00:59.110> that<00:00:59.619> is<00:01:00.549> needed<00:01:00.970> to<00:01:01.239> have<00:01:01.420> trust 00:01:01.740 --> 00:01:01.750 align:start position:0% basically that is needed to have trust 00:01:01.750 --> 00:01:03.869 align:start position:0% basically that is needed to have trust the<00:01:01.900> staking<00:01:02.260> pool<00:01:02.470> as<00:01:02.650> secure<00:01:03.519> multi-party 00:01:03.869 --> 00:01:03.879 align:start position:0% the staking pool as secure multi-party 00:01:03.879 --> 00:01:10.429 align:start position:0% the staking pool as secure multi-party computations<00:01:05.549> and<00:01:06.549> then<00:01:07.740> they<00:01:08.740> are<00:01:08.799> basically 00:01:10.429 --> 00:01:10.439 align:start position:0% computations and then they are basically 00:01:10.439 --> 00:01:12.899 align:start position:0% computations and then they are basically less<00:01:11.439> and<00:01:11.710> more<00:01:11.859> advanced<00:01:12.280> ways<00:01:12.490> to<00:01:12.759> have 00:01:12.899 --> 00:01:12.909 align:start position:0% less and more advanced ways to have 00:01:12.909 --> 00:01:14.940 align:start position:0% less and more advanced ways to have these<00:01:13.060> truster<00:01:13.570> staking<00:01:13.899> pools<00:01:14.109> you<00:01:14.590> can<00:01:14.829> have 00:01:14.940 --> 00:01:14.950 align:start position:0% these truster staking pools you can have 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position:0% can actually if you want extend this to also<00:01:25.869> a<00:01:26.079> fault<00:01:26.350> attribution<00:01:27.039> so<00:01:27.070> that<00:01:27.490> if 00:01:28.289 --> 00:01:28.299 align:start position:0% also a fault attribution so that if 00:01:28.299 --> 00:01:31.260 align:start position:0% also a fault attribution so that if you're<00:01:29.280> honest<00:01:30.280> two-thirds<00:01:30.729> majority 00:01:31.260 --> 00:01:31.270 align:start position:0% you're honest two-thirds majority 00:01:31.270 --> 00:01:34.800 align:start position:0% you're honest two-thirds majority assumption<00:01:31.719> fails<00:01:31.960> you<00:01:32.859> can<00:01:33.069> still<00:01:33.390> yeah<00:01:34.390> with 00:01:34.800 --> 00:01:34.810 align:start position:0% assumption fails you can still yeah with 00:01:34.810 --> 00:01:37.559 align:start position:0% assumption fails you can still yeah with very<00:01:35.049> high<00:01:35.259> likelihood<00:01:35.530> not<00:01:36.219> lose<00:01:37.149> your<00:01:37.390> money 00:01:37.559 --> 00:01:37.569 align:start position:0% very high likelihood not lose your money 00:01:37.569 --> 00:01:44.520 align:start position:0% very high likelihood not lose your money if<00:01:37.840> you're<00:01:37.869> in<00:01:38.079> such<00:01:38.259> a<00:01:38.289> fool<00:01:41.249> okay<00:01:42.249> so<00:01:43.530> what's 00:01:44.520 --> 00:01:44.530 align:start position:0% if you're in such a fool okay so what's 00:01:44.530 --> 00:01:47.700 align:start position:0% if you're in such a fool okay so what's so<00:01:44.770> cool<00:01:44.979> why<00:01:45.219> why<00:01:45.490> do<00:01:45.549> we<00:01:45.759> need<00:01:46.499> trust<00:01:47.499> less 00:01:47.700 --> 00:01:47.710 align:start position:0% so cool why why do we need trust less 00:01:47.710 --> 00:01:50.340 align:start position:0% so cool why why do we need trust less taking<00:01:48.069> pools<00:01:48.310> so<00:01:48.700> like<00:01:48.909> the<00:01:49.299> first<00:01:49.539> thing<00:01:50.170> you 00:01:50.340 --> 00:01:50.350 align:start position:0% taking pools so like the first thing you 00:01:50.350 --> 00:01:52.289 align:start position:0% taking pools so like the first thing you have<00:01:50.380> to<00:01:50.530> know<00:01:50.799> about<00:01:50.979> proof<00:01:51.729> stake<00:01:51.999> like<00:01:52.270> a 00:01:52.289 --> 00:01:52.299 align:start position:0% have to know about proof stake like a 00:01:52.299 --> 00:01:57.959 align:start position:0% have to know about proof stake like a nice<00:01:52.569> 2.0<00:01:53.759> we<00:01:54.759> need<00:01:54.969> to<00:01:55.119> fix<00:01:55.649> the<00:01:56.649> the<00:01:57.369> amount 00:01:57.959 --> 00:01:57.969 align:start position:0% nice 2.0 we need to fix the the amount 00:01:57.969 --> 00:02:00.239 align:start position:0% nice 2.0 we need to fix the the amount that<00:01:58.179> a<00:01:58.240> stake<00:01:58.569> by<00:01:58.810> every<00:01:59.079> validator<00:01:59.950> to 00:02:00.239 --> 00:02:00.249 align:start position:0% that a stake by every validator to 00:02:00.249 --> 00:02:02.520 align:start position:0% that a stake by every validator to roughly<00:02:00.579> the<00:02:00.670> same<00:02:00.969> amount<00:02:01.030> and<00:02:01.539> why<00:02:02.319> is<00:02:02.380> that 00:02:02.520 --> 00:02:02.530 align:start position:0% roughly the same amount and why is that 00:02:02.530 --> 00:02:05.039 align:start position:0% roughly the same amount and why is that it's<00:02:02.950> very<00:02:03.130> difficult<00:02:03.369> to<00:02:03.789> design<00:02:04.179> a<00:02:04.389> protocol 00:02:05.039 --> 00:02:05.049 align:start position:0% it's very difficult to design a protocol 00:02:05.049 --> 00:02:07.800 align:start position:0% it's very difficult to design a protocol that<00:02:05.319> works<00:02:05.950> with<00:02:06.219> fair<00:02:06.880> in<00:02:07.060> a<00:02:07.149> fair<00:02:07.359> way<00:02:07.539> but 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make any adjustments<00:02:15.940> for<00:02:16.150> their<00:02:16.300> stake<00:02:16.540> because<00:02:16.780> it 00:02:17.070 --> 00:02:17.080 align:start position:0% adjustments for their stake because it 00:02:17.080 --> 00:02:17.290 align:start position:0% adjustments for their stake because it would 00:02:17.290 --> 00:02:17.300 align:start position:0% would 00:02:17.300 --> 00:02:21.100 align:start position:0% would be<00:02:17.900> too<00:02:18.080> complex<00:02:18.470> and<00:02:19.250> so<00:02:20.150> like<00:02:20.390> the<00:02:20.630> protocol 00:02:21.100 --> 00:02:21.110 align:start position:0% be too complex and so like the protocol 00:02:21.110 --> 00:02:23.620 align:start position:0% be too complex and so like the protocol is<00:02:21.260> designed<00:02:21.650> so<00:02:22.220> that<00:02:22.250> it<00:02:22.820> only<00:02:23.180> really<00:02:23.540> works 00:02:23.620 --> 00:02:23.630 align:start position:0% is designed so that it only really works 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assumptions<00:02:30.230> will<00:02:30.410> fail<00:02:30.650> and<00:02:32.710> so<00:02:33.710> like<00:02:34.670> the 00:02:34.990 --> 00:02:35.000 align:start position:0% assumptions will fail and so like the 00:02:35.000 --> 00:02:37.120 align:start position:0% assumptions will fail and so like the the<00:02:35.360> amount<00:02:35.690> that<00:02:35.780> we<00:02:35.990> agreed<00:02:36.290> on<00:02:36.320> as<00:02:36.650> xxxii 00:02:37.120 --> 00:02:37.130 align:start position:0% the amount that we agreed on as xxxii 00:02:37.130 --> 00:02:39.370 align:start position:0% the amount that we agreed on as xxxii eath<00:02:37.310> which<00:02:37.610> is<00:02:37.820> like<00:02:38.030> in<00:02:38.480> today's<00:02:38.810> price<00:02:39.170> is 00:02:39.370 --> 00:02:39.380 align:start position:0% eath which is like in today's price is 00:02:39.380 --> 00:02:40.810 align:start position:0% eath which is like in today's price is about<00:02:39.620> five<00:02:39.920> thousand<00:02:40.310> five<00:02:40.430> hundred<00:02:40.580> US 00:02:40.810 --> 00:02:40.820 align:start position:0% about five thousand five hundred US 00:02:40.820 --> 00:02:43.660 align:start position:0% about five thousand five hundred US dollars<00:02:41.020> but<00:02:42.020> say<00:02:42.380> like<00:02:42.650> one-eighth<00:02:43.130> goes<00:02:43.400> to 00:02:43.660 --> 00:02:43.670 align:start position:0% dollars but say like one-eighth goes to 00:02:43.670 --> 00:02:44.800 align:start position:0% dollars but say like one-eighth goes to ten<00:02:43.970> thousand<00:02:44.300> US<00:02:44.480> dollars 00:02:44.800 --> 00:02:44.810 align:start position:0% ten thousand US dollars 00:02:44.810 --> 00:02:46.840 align:start position:0% ten thousand US dollars which<00:02:45.140> is<00:02:45.320> very<00:02:45.530> well<00:02:46.010> possible<00:02:46.220> from<00:02:46.610> what<00:02:46.730> we 00:02:46.840 --> 00:02:46.850 align:start position:0% which is very well possible from what we 00:02:46.850 --> 00:02:51.010 align:start position:0% which is very well possible from what we know<00:02:47.140> then<00:02:48.140> once<00:02:48.560> one<00:02:49.570> validate<00:02:50.570> I<00:02:50.600> would<00:02:50.870> have 00:02:51.010 --> 00:02:51.020 align:start position:0% know then once one validate I would have 00:02:51.020 --> 00:02:52.930 align:start position:0% know then once one validate I would have to<00:02:51.170> stake<00:02:51.380> thirty<00:02:51.650> two<00:02:51.860> thousand<00:02:52.220> two<00:02:52.760> three 00:02:52.930 --> 00:02:52.940 align:start position:0% to stake thirty two thousand two three 00:02:52.940 --> 00:02:54.340 align:start position:0% to stake thirty two thousand two three and<00:02:53.060> twenty<00:02:53.210> two<00:02:53.420> three<00:02:53.960> hundred<00:02:54.020> twenty 00:02:54.340 --> 00:02:54.350 align:start position:0% and twenty two three hundred twenty 00:02:54.350 --> 00:02:56.590 align:start position:0% and twenty two three hundred twenty thousand<00:02:54.740> eighth<00:02:54.920> yeah<00:02:55.430> sorry<00:02:56.030> US<00:02:56.300> dollars 00:02:56.590 --> 00:02:56.600 align:start position:0% thousand eighth yeah sorry US dollars 00:02:56.600 --> 00:02:59.500 align:start position:0% thousand eighth yeah sorry US dollars which<00:02:57.560> is<00:02:57.680> great<00:02:57.950> for<00:02:58.190> security<00:02:58.640> because<00:02:59.150> then 00:02:59.500 --> 00:02:59.510 align:start position:0% which is great for security because then 00:02:59.510 --> 00:03:02.530 align:start position:0% which is great for security because then suddenly<00:03:00.050> we<00:03:00.230> would<00:03:00.380> have<00:03:00.560> like<00:03:01.490> our<00:03:01.700> security 00:03:02.530 --> 00:03:02.540 align:start position:0% suddenly we would have like our security 00:03:02.540 --> 00:03:04.060 align:start position:0% suddenly we would have like our security assumption<00:03:02.990> and<00:03:03.140> proof<00:03:03.320> of<00:03:03.410> stake<00:03:03.620> of<00:03:03.800> course 00:03:04.060 --> 00:03:04.070 align:start position:0% assumption and proof of stake of course 00:03:04.070 --> 00:03:05.650 align:start position:0% assumption and proof of stake of course depend<00:03:04.430> on<00:03:04.580> how<00:03:04.730> much<00:03:04.910> money<00:03:05.090> is<00:03:05.300> staked<00:03:05.570> by 00:03:05.650 --> 00:03:05.660 align:start position:0% depend on how much money is staked by 00:03:05.660 --> 00:03:08.410 align:start position:0% depend on how much money is staked by the<00:03:05.780> validators<00:03:06.380> of<00:03:06.530> all<00:03:06.940> but<00:03:07.940> it<00:03:08.210> would 00:03:08.410 --> 00:03:08.420 align:start position:0% the validators of all but it would 00:03:08.420 --> 00:03:11.170 align:start position:0% the validators of all but it would increase<00:03:08.900> the<00:03:09.230> barrier<00:03:09.560> of<00:03:09.650> entry<00:03:10.000> to<00:03:11.000> such<00:03:11.150> a 00:03:11.170 --> 00:03:11.180 align:start position:0% increase the barrier of entry to such a 00:03:11.180 --> 00:03:13.900 align:start position:0% increase the barrier of entry to such a high<00:03:11.360> amount<00:03:11.570> that<00:03:11.840> like<00:03:12.430> very<00:03:13.430> few<00:03:13.700> people 00:03:13.900 --> 00:03:13.910 align:start position:0% high amount that like very few people 00:03:13.910 --> 00:03:16.750 align:start position:0% high amount that like very few people could<00:03:14.300> actually<00:03:14.860> afford<00:03:15.860> becoming<00:03:16.700> a 00:03:16.750 --> 00:03:16.760 align:start position:0% could actually afford becoming a 00:03:16.760 --> 00:03:19.450 align:start position:0% could actually afford becoming a validator<00:03:17.180> from<00:03:18.140> the<00:03:18.230> capital<00:03:18.740> cost<00:03:18.950> point<00:03:19.310> of 00:03:19.450 --> 00:03:19.460 align:start position:0% validator from the capital cost point of 00:03:19.460 --> 00:03:23.590 align:start position:0% validator from the capital cost point of view<00:03:19.640> and<00:03:19.910> so<00:03:21.100> that<00:03:22.100> would<00:03:22.880> not<00:03:22.910> be<00:03:23.239> what<00:03:23.450> we're 00:03:23.590 --> 00:03:23.600 align:start position:0% view and so that would not be what we're 00:03:23.600 --> 00:03:26.020 align:start position:0% view and so that would not be what we're aiming<00:03:23.750> for<00:03:23.959> to<00:03:24.200> just<00:03:24.560> make<00:03:25.220> validating 00:03:26.020 --> 00:03:26.030 align:start position:0% aiming for to just make validating 00:03:26.030 --> 00:03:28.300 align:start position:0% aiming for to just make validating another<00:03:26.360> easy<00:03:27.110> income<00:03:27.560> stream<00:03:27.860> for<00:03:28.070> the<00:03:28.160> rich 00:03:28.300 --> 00:03:28.310 align:start position:0% another easy income stream for the rich 00:03:28.310 --> 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make staking possible<00:03:39.020> with<00:03:39.140> any<00:03:39.730> staking<00:03:40.730> amount<00:03:41.030> the 00:03:41.320 --> 00:03:41.330 align:start position:0% possible with any staking amount the 00:03:41.330 --> 00:03:43.240 align:start position:0% possible with any staking amount the alternative<00:03:41.930> is<00:03:42.170> that<00:03:42.200> we<00:03:42.560> create<00:03:42.860> staking 00:03:43.240 --> 00:03:43.250 align:start position:0% alternative is that we create staking 00:03:43.250 --> 00:03:44.920 align:start position:0% alternative is that we create staking pools<00:03:43.459> where<00:03:44.000> several<00:03:44.209> people<00:03:44.330> can<00:03:44.750> come 00:03:44.920 --> 00:03:44.930 align:start position:0% pools where several people can come 00:03:44.930 --> 00:03:46.479 align:start position:0% pools where several people can come together<00:03:45.140> and<00:03:45.470> say<00:03:45.680> like<00:03:45.890> we<00:03:46.010> want<00:03:46.220> to<00:03:46.280> run 00:03:46.479 --> 00:03:46.489 align:start position:0% together and say like we want to run 00:03:46.489 --> 00:03:48.880 align:start position:0% together and say like we want to run when<00:03:46.670> one<00:03:47.150> valid<00:03:47.480> data<00:03:47.600> together<00:03:47.870> and<00:03:48.260> we'll 00:03:48.880 --> 00:03:48.890 align:start position:0% when one valid data together and we'll 00:03:48.890 --> 00:03:51.130 align:start position:0% when one valid data together and we'll put<00:03:49.160> everyone<00:03:49.970> puts<00:03:50.180> in<00:03:50.360> part<00:03:50.750> of<00:03:50.930> the 00:03:51.130 --> 00:03:51.140 align:start position:0% put everyone puts in part of the 00:03:51.140 --> 00:03:55.840 align:start position:0% put everyone puts in part of the required<00:03:52.010> capital<00:03:52.220> and<00:03:52.989> so<00:03:54.280> and<00:03:55.280> the<00:03:55.700> nice 00:03:55.840 --> 00:03:55.850 align:start position:0% required capital and so and the nice 00:03:55.850 --> 00:03:57.280 align:start position:0% required capital and so and the nice thing<00:03:56.120> about<00:03:56.150> when<00:03:56.540> you<00:03:56.630> have<00:03:56.750> Trust<00:03:57.020> are 00:03:57.280 --> 00:03:57.290 align:start position:0% thing about when you have Trust are 00:03:57.290 --> 00:03:58.780 align:start position:0% thing about when you have Trust are staking<00:03:57.500> pools<00:03:57.860> as<00:03:58.070> we're<00:03:58.310> going<00:03:58.459> to<00:03:58.550> talk 00:03:58.780 --> 00:03:58.790 align:start position:0% staking pools as we're going to talk 00:03:58.790 --> 00:04:01.240 align:start position:0% staking pools as we're going to talk about<00:03:58.940> in<00:03:59.180> this<00:03:59.239> presentation<00:03:59.660> then<00:04:00.350> they<00:04:01.040> can 00:04:01.240 --> 00:04:01.250 align:start position:0% about in this presentation then they can 00:04:01.250 --> 00:04:03.699 align:start position:0% about in this presentation then they can still<00:04:01.489> be<00:04:01.550> decentralized<00:04:02.150> so<00:04:02.780> like<00:04:02.959> having<00:04:03.620> a 00:04:03.699 --> 00:04:03.709 align:start position:0% still be decentralized so like having a 00:04:03.709 --> 00:04:07.840 align:start position:0% still be decentralized so like having a pool<00:04:03.890> doesn't<00:04:04.340> mean<00:04:04.520> oh<00:04:04.760> I<00:04:05.120> know<00:04:05.900> like<00:04:06.610> Jeff<00:04:07.610> is 00:04:07.840 --> 00:04:07.850 align:start position:0% pool doesn't mean oh I know like Jeff is 00:04:07.850 --> 00:04:09.340 align:start position:0% pool doesn't mean oh I know like Jeff is like<00:04:08.060> a<00:04:08.120> trust<00:04:08.450> where<00:04:08.660> the<00:04:08.750> guy<00:04:08.930> will<00:04:09.320> just 00:04:09.340 --> 00:04:09.350 align:start position:0% like a trust where the guy will just 00:04:09.350 --> 00:04:10.870 align:start position:0% like a trust where the guy will just everyone<00:04:09.950> give<00:04:10.100> him<00:04:10.250> their<00:04:10.400> money<00:04:10.580> and<00:04:10.730> he'll 00:04:10.870 --> 00:04:10.880 align:start position:0% everyone give him their money and he'll 00:04:10.880 --> 00:04:13.840 align:start position:0% everyone give him their money and he'll run<00:04:11.060> it<00:04:11.239> but<00:04:11.959> no<00:04:12.140> we<00:04:12.290> can<00:04:12.470> actually<00:04:12.920> do<00:04:13.070> this<00:04:13.310> so 00:04:13.840 --> 00:04:13.850 align:start position:0% run it but no we can actually do this so 00:04:13.850 --> 00:04:15.280 align:start position:0% run it but no we can actually do this so that<00:04:14.000> everyone<00:04:14.150> runs<00:04:14.600> that<00:04:14.840> validator 00:04:15.280 --> 00:04:15.290 align:start position:0% that everyone runs that validator 00:04:15.290 --> 00:04:17.500 align:start position:0% that everyone runs that validator together<00:04:15.739> in<00:04:16.609> a<00:04:16.700> multi-party<00:04:17.239> computation 00:04:17.500 --> 00:04:17.510 align:start position:0% together in a multi-party computation 00:04:17.510 --> 00:04:21.250 align:start position:0% together in a multi-party computation and<00:04:18.019> you<00:04:19.010> don't<00:04:19.250> need<00:04:19.430> to<00:04:19.660> fully<00:04:20.660> trust<00:04:20.959> that 00:04:21.250 --> 00:04:21.260 align:start position:0% and you don't need to fully trust that 00:04:21.260 --> 00:04:24.370 align:start position:0% and you don't need to fully trust that any<00:04:21.500> of<00:04:21.739> the<00:04:22.130> guys<00:04:22.419> is<00:04:23.419> like<00:04:23.900> completely 00:04:24.370 --> 00:04:24.380 align:start position:0% any of the guys is like completely 00:04:24.380 --> 00:04:28.870 align:start position:0% any of the guys is like completely trustworthy<00:04:26.650> right<00:04:27.650> and<00:04:28.250> there's<00:04:28.460> actually 00:04:28.870 --> 00:04:28.880 align:start position:0% trustworthy right and there's actually 00:04:28.880 --> 00:04:30.700 align:start position:0% trustworthy right and there's actually also<00:04:29.060> a<00:04:29.240> second<00:04:29.750> very<00:04:29.930> good<00:04:30.140> reason<00:04:30.470> to<00:04:30.590> do 00:04:30.700 --> 00:04:30.710 align:start position:0% also a second very good reason to do 00:04:30.710 --> 00:04:31.060 align:start position:0% also a second very good reason to do this 00:04:31.060 --> 00:04:31.070 align:start position:0% this 00:04:31.070 --> 00:04:34.870 align:start position:0% this and<00:04:31.190> which<00:04:31.910> is<00:04:32.180> that<00:04:32.530> even<00:04:33.530> if<00:04:33.680> even<00:04:34.430> if<00:04:34.700> you 00:04:34.870 --> 00:04:34.880 align:start position:0% and which is that even if even if you 00:04:34.880 --> 00:04:38.910 align:start position:0% and which is that even if even if you are<00:04:35.060> a<00:04:35.090> single<00:04:35.480> guy<00:04:35.780> putting<00:04:36.320> up<00:04:36.610> the<00:04:37.610> deposit 00:04:38.910 --> 00:04:38.920 align:start position:0% are a single guy putting up the deposit 00:04:38.920 --> 00:04:42.370 align:start position:0% are a single guy putting up the deposit you<00:04:39.920> might<00:04:40.130> not<00:04:40.370> actually<00:04:40.610> want<00:04:41.150> to<00:04:41.600> run<00:04:42.050> your 00:04:42.370 --> 00:04:42.380 align:start position:0% you might not actually want to run your 00:04:42.380 --> 00:04:44.860 align:start position:0% you might not actually want to run your valid<00:04:42.740> data<00:04:42.920> on<00:04:43.250> just<00:04:43.850> one<00:04:44.120> machine<00:04:44.330> because 00:04:44.860 --> 00:04:44.870 align:start position:0% valid data on just one machine because 00:04:44.870 --> 00:04:46.780 align:start position:0% valid data on just one machine because the<00:04:44.990> thing<00:04:45.170> is<00:04:45.200> to<00:04:45.440> run<00:04:45.620> the<00:04:45.800> validator<00:04:46.250> you 00:04:46.780 --> 00:04:46.790 align:start position:0% the thing is to run the validator you 00:04:46.790 --> 00:04:48.610 align:start position:0% the thing is to run the validator you need<00:04:47.000> to<00:04:47.120> have<00:04:47.300> the<00:04:47.450> validator<00:04:47.960> secret<00:04:48.470> on 00:04:48.610 --> 00:04:48.620 align:start position:0% need to have the validator secret on 00:04:48.620 --> 00:04:52.150 align:start position:0% need to have the validator secret on that<00:04:48.950> machine<00:04:49.400> and<00:04:49.700> that's<00:04:50.510> of<00:04:51.320> course<00:04:51.380> a<00:04:51.770> huge 00:04:52.150 --> 00:04:52.160 align:start position:0% that machine and that's of course a huge 00:04:52.160 --> 00:04:54.460 align:start position:0% that machine and that's of course a huge potential<00:04:52.580> security<00:04:52.970> risk<00:04:53.570> because<00:04:53.690> someone 00:04:54.460 --> 00:04:54.470 align:start position:0% potential security risk because someone 00:04:54.470 --> 00:04:56.710 align:start position:0% potential security risk because someone hacking<00:04:55.100> that<00:04:55.250> machine<00:04:55.610> could<00:04:55.880> just<00:04:56.120> do 00:04:56.710 --> 00:04:56.720 align:start position:0% hacking that machine could just do 00:04:56.720 --> 00:04:59.170 align:start position:0% hacking that machine could just do whatever<00:04:56.930> they<00:04:57.200> want<00:04:57.470> with<00:04:57.800> that<00:04:58.280> key<00:04:59.150> and 00:04:59.170 --> 00:04:59.180 align:start position:0% whatever they want with that key and 00:04:59.180 --> 00:05:01.570 align:start position:0% whatever they want with that key and potentially<00:04:59.930> get<00:05:00.080> you<00:05:00.200> slashed<00:05:00.470> so<00:05:01.100> a<00:05:01.130> nice 00:05:01.570 --> 00:05:01.580 align:start position:0% potentially get you slashed so a nice 00:05:01.580 --> 00:05:04.150 align:start position:0% potentially get you slashed so a nice thing<00:05:01.910> is<00:05:02.090> if<00:05:02.330> you<00:05:02.480> have<00:05:02.810> the<00:05:03.350> technology<00:05:03.710> to 00:05:04.150 --> 00:05:04.160 align:start position:0% thing is if you have the technology to 00:05:04.160 --> 00:05:06.100 align:start position:0% thing is if you have the technology to enable<00:05:04.520> multi-party<00:05:05.300> computation<00:05:05.600> for 00:05:06.100 --> 00:05:06.110 align:start position:0% enable multi-party computation for 00:05:06.110 --> 00:05:08.320 align:start position:0% enable multi-party computation for validators<00:05:06.770> then<00:05:07.310> that<00:05:07.490> also<00:05:07.700> means<00:05:08.000> you<00:05:08.090> can 00:05:08.320 --> 00:05:08.330 align:start position:0% validators then that also means you can 00:05:08.330 --> 00:05:12.130 align:start position:0% validators then that also means you can increase<00:05:08.600> your<00:05:08.720> security<00:05:09.790> by<00:05:11.140> distributing 00:05:12.130 --> 00:05:12.140 align:start position:0% increase your security by distributing 00:05:12.140 --> 00:05:14.700 align:start position:0% increase your security by distributing your<00:05:12.170> key<00:05:12.500> across<00:05:12.950> say<00:05:13.220> just<00:05:13.850> three<00:05:14.240> machines 00:05:14.700 --> 00:05:14.710 align:start position:0% your key across say just three machines 00:05:14.710 --> 00:05:17.590 align:start position:0% your key across say just three machines and<00:05:15.710> say<00:05:15.950> you<00:05:16.190> don't<00:05:16.460> you<00:05:16.850> want<00:05:17.090> to<00:05:17.120> run<00:05:17.330> it<00:05:17.480> and 00:05:17.590 --> 00:05:17.600 align:start position:0% and say you don't you want to run it and 00:05:17.600 --> 00:05:18.760 align:start position:0% and say you don't you want to run it and the<00:05:17.660> cloud<00:05:17.870> you<00:05:18.050> don't<00:05:18.080> fully<00:05:18.410> trust<00:05:18.440> your 00:05:18.760 --> 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--> 00:05:26.240 align:start position:0% so you avoid having a single point of 00:05:26.240 --> 00:05:30.520 align:start position:0% so you avoid having a single point of failure<00:05:29.260> cool 00:05:30.520 --> 00:05:30.530 align:start position:0% failure cool 00:05:30.530 --> 00:05:34.090 align:start position:0% failure cool so<00:05:30.710> let's<00:05:31.430> come<00:05:31.730> to<00:05:32.480> the<00:05:33.070> technology<00:05:34.070> that 00:05:34.090 --> 00:05:34.100 align:start position:0% so let's come to the technology that 00:05:34.100 --> 00:05:37.180 align:start position:0% so let's come to the technology that that<00:05:34.880> makes<00:05:35.810> this<00:05:35.990> possible<00:05:36.260> so<00:05:36.710> one<00:05:36.860> thing<00:05:37.160> is 00:05:37.180 --> 00:05:37.190 align:start position:0% that makes this possible so one thing is 00:05:37.190 --> 00:05:41.050 align:start position:0% that makes this possible so one thing is that<00:05:38.020> we<00:05:39.020> chose<00:05:39.320> to<00:05:40.310> in<00:05:40.460> order<00:05:40.580> to<00:05:40.820> sign 00:05:41.050 --> 00:05:41.060 align:start position:0% that we chose to in order to sign 00:05:41.060 --> 00:05:43.650 align:start position:0% that we chose to in order to sign anything<00:05:41.360> on<00:05:41.660> is<00:05:41.810> to<00:05:42.050> and<00:05:42.320> we<00:05:42.920> choose<00:05:43.220> this 00:05:43.650 --> 00:05:43.660 align:start position:0% anything on is to and we choose this 00:05:43.660 --> 00:05:47.170 align:start position:0% anything on is to and we choose this signature<00:05:44.660> scheme<00:05:45.020> that's<00:05:45.310> called<00:05:46.310> pls 00:05:47.170 --> 00:05:47.180 align:start position:0% signature scheme that's called pls 00:05:47.180 --> 00:05:50.260 align:start position:0% signature scheme that's called pls signatures<00:05:47.780> and<00:05:48.730> basically<00:05:49.730> the<00:05:49.940> way<00:05:49.970> it 00:05:50.260 --> 00:05:50.270 align:start position:0% signatures and basically the way it 00:05:50.270 --> 00:05:55.600 align:start position:0% signatures and basically the way it works<00:05:50.920> is<00:05:51.920> that<00:05:52.720> it<00:05:53.720> uses<00:05:53.960> an<00:05:54.860> elliptic<00:05:55.400> group 00:05:55.600 --> 00:05:55.610 align:start position:0% works is that it uses an elliptic group 00:05:55.610 --> 00:05:58.120 align:start position:0% works is that it uses an elliptic group by<00:05:55.880> the<00:05:55.940> pairing<00:05:56.360> so<00:05:57.080> what<00:05:57.470> that<00:05:57.590> means<00:05:57.860> is 00:05:58.120 --> 00:05:58.130 align:start position:0% by the pairing so what that means is 00:05:58.130 --> 00:06:03.880 align:start position:0% by the pairing so what that means is that<00:05:58.900> you<00:05:59.900> have<00:06:00.110> this<00:06:00.410> pairing<00:06:01.300> function<00:06:02.890> this 00:06:03.880 --> 00:06:03.890 align:start position:0% that you have this pairing function this 00:06:03.890 --> 00:06:08.770 align:start position:0% that you have this pairing function this okay<00:06:04.220> so<00:06:04.730> e<00:06:05.180> that<00:06:05.900> pairs<00:06:06.610> two<00:06:07.610> elements<00:06:08.060> from 00:06:08.770 --> 00:06:08.780 align:start position:0% okay so e that pairs two elements from 00:06:08.780 --> 00:06:12.640 align:start position:0% okay so e that pairs two elements from elliptic<00:06:09.710> groups<00:06:10.240> with<00:06:11.240> this<00:06:11.650> linearity 00:06:12.640 --> 00:06:12.650 align:start position:0% elliptic groups with this linearity 00:06:12.650 --> 00:06:15.700 align:start position:0% elliptic groups with this linearity relation<00:06:13.460> so<00:06:13.670> like<00:06:13.930> you<00:06:14.930> can<00:06:15.140> move<00:06:15.440> this 00:06:15.700 --> 00:06:15.710 align:start position:0% relation so like you can move this 00:06:15.710 --> 00:06:18.730 align:start position:0% relation so like you can move this factor<00:06:16.400> n<00:06:16.670> from<00:06:17.660> the<00:06:17.930> from<00:06:18.410> the<00:06:18.560> first 00:06:18.730 --> 00:06:18.740 align:start position:0% factor n from the from the first 00:06:18.740 --> 00:06:21.730 align:start position:0% factor n from the from the first argument<00:06:19.310> to<00:06:19.610> the<00:06:19.760> second<00:06:20.090> argument<00:06:20.590> and<00:06:21.590> you 00:06:21.730 --> 00:06:21.740 align:start position:0% argument to the second argument and you 00:06:21.740 --> 00:06:25.240 align:start position:0% argument to the second argument and you can<00:06:21.920> also<00:06:22.100> move<00:06:22.370> it<00:06:22.520> out<00:06:22.730> of<00:06:23.480> the<00:06:24.230> out<00:06:25.070> of<00:06:25.100> the 00:06:25.240 --> 00:06:25.250 align:start position:0% can also move it out of the out of the 00:06:25.250 --> 00:06:30.610 align:start position:0% can also move it out of the out of the pairing<00:06:25.670> here<00:06:26.110> and<00:06:27.490> so<00:06:28.490> like<00:06:28.730> a<00:06:29.090> secret<00:06:29.780> key<00:06:29.990> is 00:06:30.610 --> 00:06:30.620 align:start position:0% pairing here and so like a secret key is 00:06:30.620 --> 00:06:34.330 align:start position:0% pairing here and so like a secret key is just<00:06:31.520> an<00:06:31.700> integer<00:06:31.970> and<00:06:32.330> a<00:06:33.200> public<00:06:33.560> key<00:06:33.770> is<00:06:33.980> you 00:06:34.330 --> 00:06:34.340 align:start position:0% just an integer and a public key is you 00:06:34.340 --> 00:06:36.310 align:start position:0% just an integer and a public key is you MA<00:06:34.520> you<00:06:34.670> multiply<00:06:34.880> your<00:06:35.420> generator<00:06:35.930> which<00:06:36.290> is 00:06:36.310 --> 00:06:36.320 align:start position:0% MA you multiply your generator which is 00:06:36.320 --> 00:06:40.390 align:start position:0% MA you multiply your generator which is g1<00:06:37.060> by<00:06:38.060> your<00:06:38.270> secret<00:06:38.600> key<00:06:38.780> and<00:06:39.100> in<00:06:40.100> order<00:06:40.340> to 00:06:40.390 --> 00:06:40.400 align:start position:0% g1 by your secret key and in order to 00:06:40.400 --> 00:06:41.510 align:start position:0% g1 by your secret key and in order to sign<00:06:40.760> a<00:06:41.150> man 00:06:41.510 --> 00:06:41.520 align:start position:0% sign a man 00:06:41.520 --> 00:06:44.900 align:start position:0% sign a man search<00:06:41.720> you<00:06:42.740> multiply<00:06:43.740> that<00:06:44.160> message<00:06:44.669> so 00:06:44.900 --> 00:06:44.910 align:start position:0% search you multiply that message so 00:06:44.910 --> 00:06:47.240 align:start position:0% search you multiply that message so that's<00:06:45.090> a<00:06:45.389> point<00:06:45.960> you<00:06:46.289> we<00:06:46.410> map<00:06:46.620> the<00:06:46.770> message<00:06:47.069> to 00:06:47.240 --> 00:06:47.250 align:start position:0% that's a point you we map the message to 00:06:47.250 --> 00:06:49.700 align:start position:0% that's a point you we map the message to a<00:06:47.310> point<00:06:47.550> in<00:06:47.699> the<00:06:47.789> elliptic<00:06:48.150> group<00:06:48.560> to<00:06:49.560> your 00:06:49.700 --> 00:06:49.710 align:start position:0% a point in the elliptic group to your 00:06:49.710 --> 00:06:53.300 align:start position:0% a point in the elliptic group to your secret<00:06:50.580> we<00:06:50.819> times<00:06:51.210> M<00:06:51.479> and<00:06:51.840> in<00:06:52.830> order<00:06:53.009> to<00:06:53.129> check 00:06:53.300 --> 00:06:53.310 align:start position:0% secret we times M and in order to check 00:06:53.310 --> 00:06:56.180 align:start position:0% secret we times M and in order to check out<00:06:53.520> to<00:06:53.669> use<00:06:53.879> the<00:06:54.060> pairing<00:06:54.419> equation<00:06:55.129> so<00:06:56.129> you 00:06:56.180 --> 00:06:56.190 align:start position:0% out to use the pairing equation so you 00:06:56.190 --> 00:07:01.010 align:start position:0% out to use the pairing equation so you check<00:06:56.909> that<00:06:57.590> the<00:06:58.590> pairing<00:06:59.009> of<00:06:59.190> your<00:07:00.020> public 00:07:01.010 --> 00:07:01.020 align:start position:0% check that the pairing of your public 00:07:01.020 --> 00:07:04.010 align:start position:0% check that the pairing of your public key<00:07:01.229> and<00:07:01.470> the<00:07:02.460> message<00:07:02.849> is<00:07:03.180> the<00:07:03.419> same<00:07:03.599> as<00:07:03.870> to 00:07:04.010 --> 00:07:04.020 align:start position:0% key and the message is the same as to 00:07:04.020 --> 00:07:06.499 align:start position:0% key and the message is the same as to generate<00:07:04.530> and<00:07:04.830> generator<00:07:05.819> in<00:07:06.060> the<00:07:06.150> signature 00:07:06.499 --> 00:07:06.509 align:start position:0% generate and generator in the signature 00:07:06.509 --> 00:07:11.119 align:start position:0% generate and generator in the signature and<00:07:08.539> the<00:07:09.539> amazing<00:07:10.050> thing<00:07:10.349> about<00:07:10.379> the 00:07:11.119 --> 00:07:11.129 align:start position:0% and the amazing thing about the 00:07:11.129 --> 00:07:14.120 align:start position:0% and the amazing thing about the signature<00:07:11.639> scheme<00:07:11.909> is<00:07:12.090> that<00:07:12.530> if<00:07:13.530> you<00:07:13.710> look<00:07:13.919> at 00:07:14.120 --> 00:07:14.130 align:start position:0% signature scheme is that if you look at 00:07:14.130 --> 00:07:16.430 align:start position:0% signature scheme is that if you look at the<00:07:14.699> signature<00:07:15.240> checking<00:07:15.569> equation<00:07:15.990> here<00:07:16.289> and 00:07:16.430 --> 00:07:16.440 align:start position:0% the signature checking equation here and 00:07:16.440 --> 00:07:20.570 align:start position:0% the signature checking equation here and it's<00:07:17.310> linear<00:07:18.000> in<00:07:18.470> the<00:07:19.470> public<00:07:19.919> key<00:07:20.099> and<00:07:20.370> the 00:07:20.570 --> 00:07:20.580 align:start position:0% it's linear in the public key and the 00:07:20.580 --> 00:07:26.439 align:start position:0% it's linear in the public key and the signature<00:07:22.009> and<00:07:23.009> this<00:07:23.280> means<00:07:23.610> that<00:07:25.039> you<00:07:26.039> can 00:07:26.439 --> 00:07:26.449 align:start position:0% signature and this means that you can 00:07:26.449 --> 00:07:29.360 align:start position:0% signature and this means that you can you<00:07:27.449> can<00:07:27.659> do<00:07:27.900> something<00:07:28.380> like<00:07:28.560> you<00:07:28.740> can<00:07:28.919> you 00:07:29.360 --> 00:07:29.370 align:start position:0% you can do something like you can you 00:07:29.370 --> 00:07:32.510 align:start position:0% you can do something like you can you can<00:07:29.550> add<00:07:29.849> two<00:07:30.659> public<00:07:31.650> keys<00:07:31.860> and<00:07:32.190> two 00:07:32.510 --> 00:07:32.520 align:start position:0% can add two public keys and two 00:07:32.520 --> 00:07:35.990 align:start position:0% can add two public keys and two signatures<00:07:33.120> and<00:07:33.949> and<00:07:34.949> that<00:07:35.310> will<00:07:35.520> still<00:07:35.789> be<00:07:35.849> a 00:07:35.990 --> 00:07:36.000 align:start position:0% signatures and and that will still be a 00:07:36.000 --> 00:07:38.180 align:start position:0% signatures and and that will still be a valid<00:07:36.330> signature<00:07:37.080> for<00:07:37.319> the<00:07:37.409> sum<00:07:37.620> of<00:07:37.650> these<00:07:37.949> two 00:07:38.180 --> 00:07:38.190 align:start position:0% valid signature for the sum of these two 00:07:38.190 --> 00:07:40.129 align:start position:0% valid signature for the sum of these two public<00:07:38.550> keys<00:07:39.150> and<00:07:39.419> that<00:07:39.539> message<00:07:39.930> so 00:07:40.129 --> 00:07:40.139 align:start position:0% public keys and that message so 00:07:40.139 --> 00:07:43.459 align:start position:0% public keys and that message so basically<00:07:41.129> like<00:07:41.460> you<00:07:41.699> can<00:07:41.940> you<00:07:42.930> can<00:07:43.080> just<00:07:43.289> add 00:07:43.459 --> 00:07:43.469 align:start position:0% basically like you can you can just add 00:07:43.469 --> 00:07:45.980 align:start position:0% basically like you can you can just add signatures<00:07:44.280> in<00:07:44.940> order<00:07:45.270> to<00:07:45.449> create<00:07:45.750> a<00:07:45.840> new 00:07:45.980 --> 00:07:45.990 align:start position:0% signatures in order to create a new 00:07:45.990 --> 00:07:48.770 align:start position:0% signatures in order to create a new aggregated<00:07:46.740> signatures<00:07:47.219> and<00:07:47.659> this<00:07:48.659> is 00:07:48.770 --> 00:07:48.780 align:start position:0% aggregated signatures and this is 00:07:48.780 --> 00:07:50.959 align:start position:0% aggregated signatures and this is amazing<00:07:49.050> and<00:07:49.380> basically<00:07:49.860> it<00:07:50.009> also<00:07:50.219> enables 00:07:50.959 --> 00:07:50.969 align:start position:0% amazing and basically it also enables 00:07:50.969 --> 00:07:53.240 align:start position:0% amazing and basically it also enables kind<00:07:51.870> of<00:07:51.960> many<00:07:52.169> things<00:07:52.440> that<00:07:52.590> we<00:07:52.800> do<00:07:52.949> an<00:07:53.069> is-2 00:07:53.240 --> 00:07:53.250 align:start position:0% kind of many things that we do an is-2 00:07:53.250 --> 00:07:55.189 align:start position:0% kind of many things that we do an is-2 in<00:07:53.610> the<00:07:53.669> first<00:07:53.909> place<00:07:54.210> or<00:07:54.479> in<00:07:54.569> a<00:07:54.599> way<00:07:54.780> it 00:07:55.189 --> 00:07:55.199 align:start position:0% in the first place or in a way it 00:07:55.199 --> 00:07:56.659 align:start position:0% in the first place or in a way it enables<00:07:55.530> charting<00:07:56.069> in<00:07:56.159> the<00:07:56.219> first<00:07:56.400> place 00:07:56.659 --> 00:07:56.669 align:start position:0% enables charting in the first place 00:07:56.669 --> 00:07:58.490 align:start position:0% enables charting in the first place because<00:07:57.029> it<00:07:57.210> means<00:07:57.360> that<00:07:57.509> thousands<00:07:58.440> of 00:07:58.490 --> 00:07:58.500 align:start position:0% because it means that thousands of 00:07:58.500 --> 00:08:00.950 align:start position:0% because it means that thousands of signatures<00:07:58.710> can<00:07:59.310> just<00:07:59.550> be<00:07:59.699> aggregated<00:08:00.060> into 00:08:00.950 --> 00:08:00.960 align:start position:0% signatures can just be aggregated into 00:08:00.960 --> 00:08:03.890 align:start position:0% signatures can just be aggregated into one<00:08:01.199> single<00:08:01.650> signatures<00:08:02.460> that<00:08:02.789> that<00:08:03.569> can<00:08:03.779> be 00:08:03.890 --> 00:08:03.900 align:start position:0% one single signatures that that can be 00:08:03.900 --> 00:08:05.719 align:start position:0% one single signatures that that can be checked<00:08:04.110> once<00:08:04.620> using<00:08:04.949> this<00:08:05.130> pairing<00:08:05.490> and<00:08:05.639> you 00:08:05.719 --> 00:08:05.729 align:start position:0% checked once using this pairing and you 00:08:05.729 --> 00:08:07.430 align:start position:0% checked once using this pairing and you know<00:08:05.880> that<00:08:06.120> everyone<00:08:06.870> has<00:08:07.050> signed<00:08:07.259> this 00:08:07.430 --> 00:08:07.440 align:start position:0% know that everyone has signed this 00:08:07.440 --> 00:08:09.680 align:start position:0% know that everyone has signed this correctly<00:08:07.919> so<00:08:08.069> this<00:08:08.250> saves<00:08:08.880> a<00:08:09.150> huge<00:08:09.360> amount<00:08:09.630> of 00:08:09.680 --> 00:08:09.690 align:start position:0% correctly so this saves a huge amount of 00:08:09.690 --> 00:08:15.080 align:start position:0% correctly so this saves a huge amount of data<00:08:09.900> and<00:08:10.289> computation<00:08:13.039> but<00:08:14.039> also<00:08:14.310> at<00:08:15.029> the 00:08:15.080 --> 00:08:15.090 align:start position:0% data and computation but also at the 00:08:15.090 --> 00:08:18.409 align:start position:0% data and computation but also at the same<00:08:15.360> time<00:08:16.219> since<00:08:17.219> it<00:08:17.400> is<00:08:17.430> linear<00:08:17.880> this 00:08:18.409 --> 00:08:18.419 align:start position:0% same time since it is linear this 00:08:18.419 --> 00:08:21.680 align:start position:0% same time since it is linear this enables<00:08:19.409> something<00:08:19.680> called<00:08:20.550> a<00:08:20.880> Shamir<00:08:21.150> secret 00:08:21.680 --> 00:08:21.690 align:start position:0% enables something called a Shamir secret 00:08:21.690 --> 00:08:24.499 align:start position:0% enables something called a Shamir secret sharing<00:08:21.900> so<00:08:22.729> the<00:08:23.729> idea<00:08:24.000> behind 00:08:24.499 --> 00:08:24.509 align:start position:0% sharing so the idea behind 00:08:24.509 --> 00:08:26.719 align:start position:0% sharing so the idea behind Shami<00:08:25.020> a<00:08:25.110> secret<00:08:25.469> sharing<00:08:25.680> is<00:08:25.860> like<00:08:26.130> set<00:08:26.400> let's 00:08:26.719 --> 00:08:26.729 align:start position:0% Shami a secret sharing is like set let's 00:08:26.729 --> 00:08:31.309 align:start position:0% Shami a secret sharing is like set let's say<00:08:26.969> we<00:08:27.509> have<00:08:27.659> 10<00:08:27.960> parties<00:08:28.500> who<00:08:29.219> want<00:08:29.430> to<00:08:30.319> share 00:08:31.309 --> 00:08:31.319 align:start position:0% say we have 10 parties who want to share 00:08:31.319 --> 00:08:36.740 align:start position:0% say we have 10 parties who want to share a<00:08:31.650> secret<00:08:32.360> what<00:08:33.360> we<00:08:33.510> do<00:08:33.659> is<00:08:34.969> we<00:08:35.969> make<00:08:36.149> we<00:08:36.570> make 00:08:36.740 --> 00:08:36.750 align:start position:0% a secret what we do is we make we make 00:08:36.750 --> 00:08:40.670 align:start position:0% a secret what we do is we make we make the<00:08:36.930> secret<00:08:37.380> a<00:08:37.589> number<00:08:38.070> and<00:08:38.839> we<00:08:39.839> encode<00:08:40.169> it<00:08:40.409> by 00:08:40.670 --> 00:08:40.680 align:start position:0% the secret a number and we encode it by 00:08:40.680 --> 00:08:46.600 align:start position:0% the secret a number and we encode it by creating<00:08:41.610> a<00:08:41.909> polynomial<00:08:42.630> that<00:08:43.730> at<00:08:44.730> zero<00:08:45.570> has 00:08:46.600 --> 00:08:46.610 align:start position:0% creating a polynomial that at zero has 00:08:46.610 --> 00:08:49.699 align:start position:0% creating a polynomial that at zero has evaluates<00:08:47.610> to<00:08:47.790> that<00:08:47.940> number<00:08:48.270> and<00:08:48.500> we<00:08:49.500> give 00:08:49.699 --> 00:08:49.709 align:start position:0% evaluates to that number and we give 00:08:49.709 --> 00:08:51.800 align:start position:0% evaluates to that number and we give every<00:08:50.250> one<00:08:50.399> of<00:08:50.430> those<00:08:50.699> 10<00:08:51.000> parties<00:08:51.449> one<00:08:51.660> two 00:08:51.800 --> 00:08:51.810 align:start position:0% every one of those 10 parties one two 00:08:51.810 --> 00:08:53.120 align:start position:0% every one of those 10 parties one two three<00:08:51.990> four<00:08:52.140> five<00:08:52.290> six<00:08:52.440> seven<00:08:52.680> eight<00:08:52.740> nine<00:08:52.920> ten 00:08:53.120 --> 00:08:53.130 align:start position:0% three four five six seven eight nine ten 00:08:53.130 --> 00:08:55.010 align:start position:0% three four five six seven eight nine ten one<00:08:53.339> point<00:08:54.120> on<00:08:54.360> that<00:08:54.540> Pauline 00:08:55.010 --> 00:08:55.020 align:start position:0% one point on that Pauline 00:08:55.020 --> 00:08:59.240 align:start position:0% one point on that Pauline and<00:08:55.970> then<00:08:57.020> and<00:08:58.020> now<00:08:58.350> the<00:08:58.410> degree<00:08:58.709> of<00:08:58.950> that 00:08:59.240 --> 00:08:59.250 align:start position:0% and then and now the degree of that 00:08:59.250 --> 00:09:01.370 align:start position:0% and then and now the degree of that polynomial<00:08:59.670> determines<00:09:00.630> how<00:09:00.839> many<00:09:01.080> of<00:09:01.230> the 00:09:01.370 --> 00:09:01.380 align:start position:0% polynomial determines how many of the 00:09:01.380 --> 00:09:03.970 align:start position:0% polynomial determines how many of the parties<00:09:01.770> you<00:09:01.980> need<00:09:02.190> in<00:09:02.700> order<00:09:03.089> to<00:09:03.209> reconstruct 00:09:03.970 --> 00:09:03.980 align:start position:0% parties you need in order to reconstruct 00:09:03.980 --> 00:09:06.800 align:start position:0% parties you need in order to reconstruct the<00:09:04.980> secret<00:09:05.399> so<00:09:05.640> for<00:09:05.820> example<00:09:06.240> here<00:09:06.600> I've 00:09:06.800 --> 00:09:06.810 align:start position:0% the secret so for example here I've 00:09:06.810 --> 00:09:09.139 align:start position:0% the secret so for example here I've chosen<00:09:07.440> a<00:09:07.620> polynomial<00:09:08.130> of<00:09:08.160> degree<00:09:08.220> three<00:09:08.880> and 00:09:09.139 --> 00:09:09.149 align:start position:0% chosen a polynomial of degree three and 00:09:09.149 --> 00:09:11.600 align:start position:0% chosen a polynomial of degree three and we<00:09:09.930> know<00:09:10.140> that<00:09:10.380> any<00:09:10.620> polynomial<00:09:11.459> of<00:09:11.550> degree 00:09:11.600 --> 00:09:11.610 align:start position:0% we know that any polynomial of degree 00:09:11.610 --> 00:09:16.280 align:start position:0% we know that any polynomial of degree three<00:09:12.270> can<00:09:12.930> be<00:09:13.760> can<00:09:14.760> be<00:09:14.790> reconstructed<00:09:15.290> using 00:09:16.280 --> 00:09:16.290 align:start position:0% three can be can be reconstructed using 00:09:16.290 --> 00:09:19.690 align:start position:0% three can be can be reconstructed using four<00:09:16.709> values<00:09:17.130> and<00:09:17.399> so<00:09:18.089> that<00:09:18.240> means<00:09:18.420> this 00:09:19.690 --> 00:09:19.700 align:start position:0% four values and so that means this 00:09:19.700 --> 00:09:22.310 align:start position:0% four values and so that means this automatically<00:09:20.700> gives<00:09:21.060> you<00:09:21.270> gives<00:09:21.750> us<00:09:21.959> a<00:09:21.990> four 00:09:22.310 --> 00:09:22.320 align:start position:0% automatically gives you gives us a four 00:09:22.320 --> 00:09:24.079 align:start position:0% automatically gives you gives us a four out<00:09:22.589> of<00:09:22.620> ten<00:09:22.980> signature<00:09:23.490> scheme<00:09:23.700> that<00:09:23.880> means 00:09:24.079 --> 00:09:24.089 align:start position:0% out of ten signature scheme that means 00:09:24.089 --> 00:09:26.630 align:start position:0% out of ten signature scheme that means you<00:09:24.240> need<00:09:24.410> four<00:09:25.410> of<00:09:25.500> the<00:09:25.649> people<00:09:25.800> and<00:09:26.130> any<00:09:26.310> four 00:09:26.630 --> 00:09:26.640 align:start position:0% you need four of the people and any four 00:09:26.640 --> 00:09:30.079 align:start position:0% you need four of the people and any four no<00:09:27.120> matter<00:09:27.330> which<00:09:27.570> four<00:09:27.899> could<00:09:28.470> recreate<00:09:29.310> that 00:09:30.079 --> 00:09:30.089 align:start position:0% no matter which four could recreate that 00:09:30.089 --> 00:09:34.250 align:start position:0% no matter which four could recreate that point<00:09:30.450> at<00:09:30.630> zero<00:09:30.870> and<00:09:32.240> and<00:09:33.240> basically<00:09:33.660> due<00:09:34.110> to 00:09:34.250 --> 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signature the threshold signature scheme<00:09:40.250> and<00:09:41.250> that<00:09:41.820> means<00:09:42.600> that<00:09:43.459> we<00:09:44.459> can<00:09:44.700> design 00:09:45.380 --> 00:09:45.390 align:start position:0% scheme and that means that we can design 00:09:45.390 --> 00:09:51.139 align:start position:0% scheme and that means that we can design this<00:09:45.540> amout<00:09:45.899> of<00:09:45.930> n<00:09:46.200> scheme<00:09:47.720> and<00:09:48.860> yeah<00:09:49.970> yeah<00:09:50.970> so 00:09:51.139 --> 00:09:51.149 align:start position:0% this amout of n scheme and yeah yeah so 00:09:51.149 --> 00:09:52.699 align:start position:0% this amout of n scheme and yeah yeah so basically<00:09:51.270> that<00:09:51.660> gives<00:09:51.690> us<00:09:52.020> three<00:09:52.170> for<00:09:52.380> pls 00:09:52.699 --> 00:09:52.709 align:start position:0% basically that gives us three for pls 00:09:52.709 --> 00:09:54.440 align:start position:0% basically that gives us three for pls signature<00:09:53.130> which<00:09:53.520> is<00:09:53.640> like<00:09:53.820> the<00:09:53.940> me<00:09:54.180> the<00:09:54.240> most 00:09:54.440 --> 00:09:54.450 align:start position:0% signature which is like the me the most 00:09:54.450 --> 00:09:56.269 align:start position:0% signature which is like the me the most important<00:09:54.930> agreeing<00:09:55.170> because<00:09:55.290> most<00:09:55.740> of<00:09:55.950> the 00:09:56.269 --> 00:09:56.279 align:start position:0% important agreeing because most of the 00:09:56.279 --> 00:09:57.829 align:start position:0% important agreeing because most of the work<00:09:56.490> that<00:09:56.520> you<00:09:56.850> do<00:09:57.000> as<00:09:57.149> a<00:09:57.180> validator 00:09:57.829 --> 00:09:57.839 align:start position:0% work that you do as a validator 00:09:57.839 --> 00:10:00.949 align:start position:0% work that you do as a validator is<00:09:58.550> signing<00:09:59.550> things<00:09:59.850> like<00:10:00.120> a<00:10:00.270> testing<00:10:00.720> block 00:10:00.949 --> 00:10:00.959 align:start position:0% is signing things like a testing block 00:10:00.959 --> 00:10:03.350 align:start position:0% is signing things like a testing block saying<00:10:01.350> this<00:10:01.529> was<00:10:01.800> a<00:10:01.829> correct<00:10:02.220> block<00:10:02.490> this<00:10:03.149> is 00:10:03.350 --> 00:10:03.360 align:start position:0% saying this was a correct block this is 00:10:03.360 --> 00:10:05.090 align:start position:0% saying this was a correct block this is the<00:10:03.570> state<00:10:03.839> of<00:10:04.020> that<00:10:04.140> chart<00:10:04.470> at<00:10:04.709> that<00:10:04.860> block 00:10:05.090 --> 00:10:05.100 align:start position:0% the state of that chart at that block 00:10:05.100 --> 00:10:08.990 align:start position:0% the state of that chart at that block and<00:10:05.310> now<00:10:05.970> we<00:10:06.029> can<00:10:06.420> do<00:10:06.810> that<00:10:07.020> in<00:10:07.820> in<00:10:08.820> a 00:10:08.990 --> 00:10:09.000 align:start position:0% and now we can do that in in a 00:10:09.000 --> 00:10:17.060 align:start position:0% and now we can do that in in a decentralized<00:10:09.300> way<00:10:12.770> right<00:10:14.420> and<00:10:15.420> now<00:10:16.070> coming 00:10:17.060 --> 00:10:17.070 align:start position:0% decentralized way right and now coming 00:10:17.070 --> 00:10:22.010 align:start position:0% decentralized way right and now coming to<00:10:17.370> one<00:10:17.720> point<00:10:18.720> that<00:10:18.990> was<00:10:20.390> kind<00:10:21.390> of<00:10:21.510> difficult 00:10:22.010 --> 00:10:22.020 align:start position:0% to one point that was kind of difficult 00:10:22.020 --> 00:10:24.860 align:start position:0% to one point that was kind of difficult in<00:10:22.200> this<00:10:22.440> as<00:10:23.279> we<00:10:23.459> have<00:10:23.640> we<00:10:24.060> have<00:10:24.209> one<00:10:24.570> element 00:10:24.860 --> 00:10:24.870 align:start position:0% in this as we have we have one element 00:10:24.870 --> 00:10:27.949 align:start position:0% in this as we have we have one element of<00:10:25.290> the<00:10:25.440> protocol<00:10:26.010> and<00:10:26.339> that<00:10:27.180> inherently 00:10:27.949 --> 00:10:27.959 align:start position:0% of the protocol and that inherently 00:10:27.959 --> 00:10:32.449 align:start position:0% of the protocol and that inherently needs<00:10:28.560> a<00:10:29.149> more<00:10:30.470> yeah<00:10:31.470> a<00:10:31.500> computation<00:10:32.250> that 00:10:32.449 --> 00:10:32.459 align:start position:0% needs a more yeah a computation that 00:10:32.459 --> 00:10:34.400 align:start position:0% needs a more yeah a computation that involves<00:10:33.270> your<00:10:33.390> secret<00:10:33.810> that<00:10:33.930> cannot<00:10:34.230> be 00:10:34.400 --> 00:10:34.410 align:start position:0% involves your secret that cannot be 00:10:34.410 --> 00:10:36.380 align:start position:0% involves your secret that cannot be solved<00:10:34.800> using<00:10:35.040> this<00:10:35.310> aggregate<00:10:35.790> signatures 00:10:36.380 --> 00:10:36.390 align:start position:0% solved using this aggregate signatures 00:10:36.390 --> 00:10:38.870 align:start position:0% solved using this aggregate signatures and<00:10:36.600> that's<00:10:37.320> the<00:10:37.649> so<00:10:37.829> called<00:10:38.370> proof<00:10:38.700> of 00:10:38.870 --> 00:10:38.880 align:start position:0% and that's the so called proof of 00:10:38.880 --> 00:10:41.360 align:start position:0% and that's the so called proof of custody<00:10:39.420> what's<00:10:40.170> the<00:10:40.290> proof<00:10:40.470> of<00:10:40.589> cassadee<00:10:41.160> and 00:10:41.360 --> 00:10:41.370 align:start position:0% custody what's the proof of cassadee and 00:10:41.370 --> 00:10:43.819 align:start position:0% custody what's the proof of cassadee and the<00:10:42.270> idea<00:10:42.510> behind<00:10:42.660> the<00:10:42.930> proof<00:10:43.140> custody<00:10:43.649> is 00:10:43.819 --> 00:10:43.829 align:start position:0% the idea behind the proof custody is 00:10:43.829 --> 00:10:49.100 align:start position:0% the idea behind the proof custody is that<00:10:44.209> you<00:10:45.209> want<00:10:45.450> to<00:10:45.600> prove<00:10:46.850> ownership<00:10:48.050> of<00:10:49.050> data 00:10:49.100 --> 00:10:49.110 align:start position:0% that you want to prove ownership of data 00:10:49.110 --> 00:10:52.400 align:start position:0% that you want to prove ownership of data so<00:10:49.770> what<00:10:50.010> what<00:10:50.310> we<00:10:50.430> want<00:10:50.640> to<00:10:50.760> do<00:10:50.940> is<00:10:51.209> that<00:10:51.899> when 00:10:52.400 --> 00:10:52.410 align:start position:0% so what what we want to do is that when 00:10:52.410 --> 00:10:56.110 align:start position:0% so what what we want to do is that when you<00:10:52.529> sign<00:10:52.860> that<00:10:53.550> you<00:10:53.760> have<00:10:54.420> seen<00:10:54.899> a<00:10:54.930> certain 00:10:56.110 --> 00:10:56.120 align:start position:0% you sign that you have seen a certain 00:10:56.120 --> 00:10:59.389 align:start position:0% you sign that you have seen a certain amount<00:10:57.120> of<00:10:57.209> shard<00:10:57.540> data<00:10:57.810> that<00:10:58.680> you<00:10:58.829> also<00:10:58.980> prove 00:10:59.389 --> 00:10:59.399 align:start position:0% amount of shard data that you also prove 00:10:59.399 --> 00:11:01.069 align:start position:0% amount of shard data that you also prove that<00:10:59.430> you<00:10:59.730> have<00:10:59.850> seen<00:11:00.120> that<00:11:00.329> data<00:11:00.540> because 00:11:01.069 --> 00:11:01.079 align:start position:0% that you have seen that data because 00:11:01.079 --> 00:11:03.170 align:start position:0% that you have seen that data because otherwise<00:11:01.380> you<00:11:01.770> have<00:11:01.800> this<00:11:02.070> so-called<00:11:02.910> lazy 00:11:03.170 --> 00:11:03.180 align:start position:0% otherwise you have this so-called lazy 00:11:03.180 --> 00:11:05.829 align:start position:0% otherwise you have this so-called lazy validator<00:11:03.810> problem<00:11:04.380> that<00:11:04.920> means<00:11:05.190> that<00:11:05.520> oh 00:11:05.829 --> 00:11:05.839 align:start position:0% validator problem that means that oh 00:11:05.839 --> 00:11:08.600 align:start position:0% validator problem that means that oh like<00:11:06.839> I've<00:11:07.199> seen<00:11:07.800> some<00:11:08.070> signature 00:11:08.600 --> 00:11:08.610 align:start position:0% like I've seen some signature 00:11:08.610 --> 00:11:10.819 align:start position:0% like I've seen some signature for<00:11:08.940> the<00:11:09.089> status<00:11:09.570> so<00:11:09.779> probably<00:11:10.260> it's<00:11:10.500> fine 00:11:10.819 --> 00:11:10.829 align:start position:0% for the status so probably it's fine 00:11:10.829 --> 00:11:13.100 align:start position:0% for the status so probably it's fine I'll<00:11:11.130> just<00:11:11.519> sign<00:11:12.029> it<00:11:12.209> without<00:11:12.420> doing<00:11:12.810> the<00:11:12.930> work 00:11:13.100 --> 00:11:13.110 align:start position:0% I'll just sign it without doing the work 00:11:13.110 --> 00:11:16.220 align:start position:0% I'll just sign it without doing the work and<00:11:13.350> that's<00:11:14.040> probably<00:11:14.399> okay<00:11:15.120> in<00:11:15.300> 99%<00:11:16.050> of<00:11:16.110> the 00:11:16.220 --> 00:11:16.230 align:start position:0% and that's probably okay in 99% of the 00:11:16.230 --> 00:11:19.009 align:start position:0% and that's probably okay in 99% of the time<00:11:16.440> but<00:11:17.190> in<00:11:17.519> the<00:11:17.640> 1%<00:11:18.180> of<00:11:18.329> the<00:11:18.450> time<00:11:18.660> where<00:11:18.930> you 00:11:19.009 --> 00:11:19.019 align:start position:0% time but in the 1% of the time where you 00:11:19.019 --> 00:11:20.780 align:start position:0% time but in the 1% of the time where you do<00:11:19.170> have<00:11:19.350> an<00:11:19.470> attacker<00:11:19.769> and<00:11:20.010> that<00:11:20.310> who<00:11:20.579> does 00:11:20.780 --> 00:11:20.790 align:start position:0% do have an attacker and that who does 00:11:20.790 --> 00:11:23.060 align:start position:0% do have an attacker and that who does something<00:11:21.029> really<00:11:21.329> evil<00:11:21.600> and<00:11:21.959> they<00:11:22.529> kid<00:11:22.709> could 00:11:23.060 --> 00:11:23.070 align:start position:0% something really evil and they kid could 00:11:23.070 --> 00:11:25.130 align:start position:0% something really evil and they kid could use<00:11:23.310> those<00:11:23.519> validator<00:11:24.089> those<00:11:24.899> lazy 00:11:25.130 --> 00:11:25.140 align:start position:0% use those validator those lazy 00:11:25.140 --> 00:11:27.410 align:start position:0% use those validator those lazy validators<00:11:25.860> to<00:11:26.250> massively<00:11:26.760> amplify<00:11:27.360> the 00:11:27.410 --> 00:11:27.420 align:start position:0% validators to massively amplify the 00:11:27.420 --> 00:11:28.850 align:start position:0% validators to massively amplify the attack<00:11:27.870> because<00:11:28.200> they<00:11:28.230> only<00:11:28.470> need<00:11:28.680> a<00:11:28.709> small 00:11:28.850 --> 00:11:28.860 align:start position:0% attack because they only need a small 00:11:28.860 --> 00:11:31.310 align:start position:0% attack because they only need a small number<00:11:29.190> of<00:11:29.370> signatures<00:11:29.760> of<00:11:30.089> some<00:11:30.750> data<00:11:31.019> for 00:11:31.310 --> 00:11:31.320 align:start position:0% number of signatures of some data for 00:11:31.320 --> 00:11:33.340 align:start position:0% number of signatures of some data for example<00:11:31.410> that's<00:11:31.829> not<00:11:32.040> available<00:11:32.190> at<00:11:32.610> all<00:11:32.730> and 00:11:33.340 --> 00:11:33.350 align:start position:0% example that's not available at all and 00:11:33.350 --> 00:11:36.889 align:start position:0% example that's not available at all and and<00:11:34.350> then<00:11:34.709> all<00:11:35.399> those<00:11:35.640> lazy<00:11:35.910> validators<00:11:36.630> would 00:11:36.889 --> 00:11:36.899 align:start position:0% and then all those lazy validators would 00:11:36.899 --> 00:11:39.710 align:start position:0% and then all those lazy validators would sign<00:11:37.170> it<00:11:37.200> and<00:11:37.910> suddenly<00:11:38.910> you<00:11:39.300> have<00:11:39.329> like 00:11:39.710 --> 00:11:39.720 align:start position:0% sign it and suddenly you have like 00:11:39.720 --> 00:11:41.810 align:start position:0% sign it and suddenly you have like there's<00:11:40.110> non<00:11:40.350> available<00:11:40.920> data<00:11:41.100> that<00:11:41.250> sign-off 00:11:41.810 --> 00:11:41.820 align:start position:0% there's non available data that sign-off 00:11:41.820 --> 00:11:43.600 align:start position:0% there's non available data that sign-off which<00:11:42.000> is<00:11:42.120> a<00:11:42.149> massive<00:11:42.570> problem<00:11:42.810> for<00:11:43.140> the<00:11:43.230> chain 00:11:43.600 --> 00:11:43.610 align:start position:0% which is a massive problem for the chain 00:11:43.610 --> 00:11:46.790 align:start position:0% which is a massive problem for the chain so<00:11:44.610> the<00:11:44.730> way<00:11:44.880> we<00:11:45.060> avoid<00:11:45.329> this<00:11:45.720> is<00:11:45.959> by<00:11:46.560> having 00:11:46.790 --> 00:11:46.800 align:start position:0% so the way we avoid this is by having 00:11:46.800 --> 00:11:48.860 align:start position:0% so the way we avoid this is by having every<00:11:47.220> validator<00:11:47.700> whenever<00:11:48.120> they<00:11:48.360> sign<00:11:48.690> that 00:11:48.860 --> 00:11:48.870 align:start position:0% every validator whenever they sign that 00:11:48.870 --> 00:11:52.519 align:start position:0% every validator whenever they sign that chart<00:11:49.170> data<00:11:50.240> generate<00:11:51.240> one<00:11:51.540> extra<00:11:52.050> bit<00:11:52.230> the 00:11:52.519 --> 00:11:52.529 align:start position:0% chart data generate one extra bit the 00:11:52.529 --> 00:11:55.009 align:start position:0% chart data generate one extra bit the so-called<00:11:52.740> Cassidy<00:11:53.490> bit<00:11:53.940> or<00:11:54.180> Cassidy<00:11:54.779> root 00:11:55.009 --> 00:11:55.019 align:start position:0% so-called Cassidy bit or Cassidy root 00:11:55.019 --> 00:11:59.180 align:start position:0% so-called Cassidy bit or Cassidy root and<00:11:55.700> and<00:11:56.700> that's<00:11:57.630> basically<00:11:58.110> a<00:11:58.260> mix<00:11:58.560> of<00:11:58.800> a 00:11:59.180 --> 00:11:59.190 align:start position:0% and and that's basically a mix of a 00:11:59.190 --> 00:12:03.800 align:start position:0% and and that's basically a mix of a secret<00:12:00.110> it's<00:12:01.110> the<00:12:02.070> secret<00:12:02.490> here<00:12:02.760> and<00:12:02.970> the<00:12:03.630> data 00:12:03.800 --> 00:12:03.810 align:start position:0% secret it's the secret here and the data 00:12:03.810 --> 00:12:06.740 align:start position:0% secret it's the secret here and the data at<00:12:04.709> every<00:12:04.980> data<00:12:05.579> block<00:12:05.940> and<00:12:06.180> then<00:12:06.570> you 00:12:06.740 --> 00:12:06.750 align:start position:0% at every data block and then you 00:12:06.750 --> 00:12:08.540 align:start position:0% at every data block and then you basically<00:12:06.980> so<00:12:07.980> this<00:12:08.190> is<00:12:08.279> the<00:12:08.430> original 00:12:08.540 --> 00:12:08.550 align:start position:0% basically so this is the original 00:12:08.550 --> 00:12:10.639 align:start position:0% basically so this is the original construction<00:12:09.029> this<00:12:09.779> is<00:12:09.930> good<00:12:10.260> for<00:12:10.470> like 00:12:10.639 --> 00:12:10.649 align:start position:0% construction this is good for like 00:12:10.649 --> 00:12:12.800 align:start position:0% construction this is good for like understanding<00:12:11.339> how<00:12:11.430> it<00:12:11.490> works<00:12:11.760> you<00:12:12.180> computer 00:12:12.800 --> 00:12:12.810 align:start position:0% understanding how it works you computer 00:12:12.810 --> 00:12:14.060 align:start position:0% understanding how it works you computer kind<00:12:13.019> of<00:12:13.110> hashed<00:12:13.320> for<00:12:13.589> you<00:12:13.680> would<00:12:13.829> have<00:12:13.980> this 00:12:14.060 --> 00:12:14.070 align:start position:0% kind of hashed for you would have this 00:12:14.070 --> 00:12:15.829 align:start position:0% kind of hashed for you would have this whole<00:12:14.250> thing<00:12:14.310> and<00:12:14.730> then<00:12:15.120> you<00:12:15.329> take<00:12:15.510> the<00:12:15.600> first 00:12:15.829 --> 00:12:15.839 align:start position:0% whole thing and then you take the first 00:12:15.839 --> 00:12:18.410 align:start position:0% whole thing and then you take the first bit<00:12:16.110> of<00:12:16.140> the<00:12:16.410> route<00:12:16.560> okay<00:12:17.070> and<00:12:17.430> basically<00:12:18.120> only 00:12:18.410 --> 00:12:18.420 align:start position:0% bit of the route okay and basically only 00:12:18.420 --> 00:12:20.210 align:start position:0% bit of the route okay and basically only if<00:12:18.690> you<00:12:18.810> have<00:12:18.959> that<00:12:19.140> secret<00:12:19.560> you<00:12:19.589> can<00:12:19.829> compute 00:12:20.210 --> 00:12:20.220 align:start position:0% if you have that secret you can compute 00:12:20.220 --> 00:12:21.410 align:start position:0% if you have that secret you can compute it<00:12:20.310> if<00:12:20.430> you<00:12:20.519> don't<00:12:20.730> have<00:12:20.910> it<00:12:21.060> you<00:12:21.180> can't 00:12:21.410 --> 00:12:21.420 align:start position:0% it if you don't have it you can't 00:12:21.420 --> 00:12:23.090 align:start position:0% it if you don't have it you can't compute<00:12:21.750> it<00:12:21.899> someone<00:12:22.410> else<00:12:22.560> can't<00:12:22.860> easily 00:12:23.090 --> 00:12:23.100 align:start position:0% compute it someone else can't easily 00:12:23.100 --> 00:12:24.710 align:start position:0% compute it someone else can't easily compute<00:12:23.550> it<00:12:23.670> for<00:12:23.699> you<00:12:23.940> with<00:12:24.089> unless<00:12:24.420> they<00:12:24.570> have 00:12:24.710 --> 00:12:24.720 align:start position:0% compute it for you with unless they have 00:12:24.720 --> 00:12:26.509 align:start position:0% compute it for you with unless they have that<00:12:24.870> secret<00:12:25.079> and<00:12:25.470> if<00:12:25.860> you<00:12:25.949> give<00:12:26.070> away<00:12:26.190> that 00:12:26.509 --> 00:12:26.519 align:start position:0% that secret and if you give away that 00:12:26.519 --> 00:12:29.689 align:start position:0% that secret and if you give away that secret<00:12:27.300> then<00:12:27.540> we<00:12:27.720> can<00:12:28.079> slash<00:12:28.320> you<00:12:28.529> so<00:12:28.800> and<00:12:29.160> that 00:12:29.689 --> 00:12:29.699 align:start position:0% secret then we can slash you so and that 00:12:29.699 --> 00:12:31.040 align:start position:0% secret then we can slash you so and that gives<00:12:29.940> you<00:12:30.060> a<00:12:30.089> very<00:12:30.300> strong<00:12:30.390> incentive<00:12:30.720> for 00:12:31.040 --> 00:12:31.050 align:start position:0% gives you a very strong incentive for 00:12:31.050 --> 00:12:32.509 align:start position:0% gives you a very strong incentive for actually<00:12:31.380> getting<00:12:31.500> the<00:12:31.769> data<00:12:31.800> because<00:12:32.279> if<00:12:32.430> you 00:12:32.509 --> 00:12:32.519 align:start position:0% actually getting the data because if you 00:12:32.519 --> 00:12:34.460 align:start position:0% actually getting the data because if you don't<00:12:32.760> have<00:12:32.940> it<00:12:33.120> it's<00:12:33.510> very<00:12:33.750> likely<00:12:33.990> that<00:12:34.290> your 00:12:34.460 --> 00:12:34.470 align:start position:0% don't have it it's very likely that your 00:12:34.470 --> 00:12:37.870 align:start position:0% don't have it it's very likely that your Cassidy<00:12:34.890> butt<00:12:35.070> is<00:12:35.190> going<00:12:35.399> to<00:12:35.490> be<00:12:35.610> wrong<00:12:35.760> now 00:12:37.870 --> 00:12:37.880 align:start position:0% Cassidy butt is going to be wrong now 00:12:37.880 --> 00:12:40.790 align:start position:0% Cassidy butt is going to be wrong now the<00:12:38.880> problem<00:12:39.360> with<00:12:39.510> this<00:12:39.690> is<00:12:39.930> how<00:12:40.350> do<00:12:40.410> you<00:12:40.620> do 00:12:40.790 --> 00:12:40.800 align:start position:0% the problem with this is how do you do 00:12:40.800 --> 00:12:41.240 align:start position:0% the problem with this is how do you do that 00:12:41.240 --> 00:12:41.250 align:start position:0% that 00:12:41.250 --> 00:12:44.269 align:start position:0% that if<00:12:41.310> you<00:12:41.670> are<00:12:41.880> in<00:12:42.510> in<00:12:43.260> a<00:12:43.440> valid<00:12:43.680> data<00:12:43.800> pool<00:12:44.130> if 00:12:44.269 --> 00:12:44.279 align:start position:0% if you are in in a valid data pool if 00:12:44.279 --> 00:12:46.100 align:start position:0% if you are in in a valid data pool if you<00:12:44.370> don't<00:12:44.670> actually<00:12:44.940> want<00:12:45.209> anyone<00:12:45.870> to<00:12:46.019> have 00:12:46.100 --> 00:12:46.110 align:start position:0% you don't actually want anyone to have 00:12:46.110 --> 00:12:47.870 align:start position:0% you don't actually want anyone to have the<00:12:46.290> secret<00:12:46.680> that<00:12:46.829> can<00:12:47.010> get<00:12:47.160> everyone<00:12:47.579> slashed 00:12:47.870 --> 00:12:47.880 align:start position:0% the secret that can get everyone slashed 00:12:47.880 --> 00:12:49.939 align:start position:0% the secret that can get everyone slashed like<00:12:48.480> it<00:12:48.600> would<00:12:48.720> be<00:12:48.870> a<00:12:48.899> massive<00:12:49.350> problem<00:12:49.620> if 00:12:49.939 --> 00:12:49.949 align:start position:0% like it would be a massive problem if 00:12:49.949 --> 00:12:52.600 align:start position:0% like it would be a massive problem if someone<00:12:50.250> needs<00:12:50.910> to<00:12:51.029> have<00:12:51.240> this<00:12:51.449> whole<00:12:51.660> secret 00:12:52.600 --> 00:12:52.610 align:start position:0% someone needs to have this whole secret 00:12:52.610 --> 00:13:02.060 align:start position:0% someone needs to have this whole secret and<00:12:53.610> the<00:12:53.970> way<00:12:56.300> you<00:12:59.449> yeah<00:13:00.649> okay<00:13:01.649> so<00:13:01.709> there's<00:13:01.980> a 00:13:02.060 --> 00:13:02.070 align:start position:0% and the way you yeah okay so there's a 00:13:02.070 --> 00:13:10.250 align:start position:0% and the way you yeah okay so there's a summary<00:13:06.440> yeah<00:13:08.120> the<00:13:09.120> way<00:13:09.269> we<00:13:09.660> solve<00:13:10.170> that 00:13:10.250 --> 00:13:10.260 align:start position:0% summary yeah the way we solve that 00:13:10.260 --> 00:13:15.280 align:start position:0% summary yeah the way we solve that problem<00:13:10.890> is<00:13:11.130> we<00:13:11.730> found<00:13:12.560> this<00:13:14.089> new 00:13:15.280 --> 00:13:15.290 align:start position:0% problem is we found this new 00:13:15.290 --> 00:13:18.230 align:start position:0% problem is we found this new pseudo-random<00:13:16.290> function<00:13:16.920> and<00:13:17.240> that 00:13:18.230 --> 00:13:18.240 align:start position:0% pseudo-random function and that 00:13:18.240 --> 00:13:21.610 align:start position:0% pseudo-random function and that basically<00:13:18.829> is<00:13:19.829> very<00:13:19.890> friendly<00:13:20.520> to<00:13:20.880> compute<00:13:21.329> in 00:13:21.610 --> 00:13:21.620 align:start position:0% basically is very friendly to compute in 00:13:21.620 --> 00:13:23.440 align:start position:0% basically is very friendly to compute in multi-party<00:13:22.160> computation<00:13:22.460> so<00:13:22.940> that<00:13:23.089> you<00:13:23.210> can 00:13:23.440 --> 00:13:23.450 align:start position:0% multi-party computation so that you can 00:13:23.450 --> 00:13:29.920 align:start position:0% multi-party computation so that you can compute<00:13:24.430> with<00:13:25.430> many<00:13:25.940> participants<00:13:27.279> in<00:13:28.750> a<00:13:29.750> very 00:13:29.920 --> 00:13:29.930 align:start position:0% compute with many participants in a very 00:13:29.930 --> 00:13:36.310 align:start position:0% compute with many participants in a very efficient<00:13:30.350> way<00:13:30.500> as<00:13:31.089> defined<00:13:32.770> as<00:13:34.510> using<00:13:35.510> the<00:13:35.900> so 00:13:36.310 --> 00:13:36.320 align:start position:0% efficient way as defined as using the so 00:13:36.320 --> 00:13:39.519 align:start position:0% efficient way as defined as using the so called<00:13:36.529> Legendre<00:13:36.950> symbol<00:13:37.930> which<00:13:38.930> is<00:13:39.230> that 00:13:39.519 --> 00:13:39.529 align:start position:0% called Legendre symbol which is that 00:13:39.529 --> 00:13:43.900 align:start position:0% called Legendre symbol which is that which<00:13:39.920> is<00:13:40.040> defined<00:13:40.400> by<00:13:41.440> so<00:13:42.440> this<00:13:42.620> is<00:13:42.770> like<00:13:43.520> it's 00:13:43.900 --> 00:13:43.910 align:start position:0% which is defined by so this is like it's 00:13:43.910 --> 00:13:47.500 align:start position:0% which is defined by so this is like it's the<00:13:44.150> notation<00:13:44.630> as<00:13:44.720> a<00:13:44.900> over<00:13:45.020> P<00:13:45.320> it's<00:13:45.920> one<00:13:46.310> if<00:13:46.610> a 00:13:47.500 --> 00:13:47.510 align:start position:0% the notation as a over P it's one if a 00:13:47.510 --> 00:13:50.380 align:start position:0% the notation as a over P it's one if a is<00:13:47.779> a<00:13:47.810> quadratic<00:13:48.260> residue<00:13:48.410> modulo<00:13:49.339> P<00:13:49.730> so<00:13:49.970> if 00:13:50.380 --> 00:13:50.390 align:start position:0% is a quadratic residue modulo P so if 00:13:50.390 --> 00:13:51.940 align:start position:0% is a quadratic residue modulo P so if there's<00:13:50.570> a<00:13:50.660> number<00:13:51.110> that<00:13:51.290> squares<00:13:51.710> to<00:13:51.920> a 00:13:51.940 --> 00:13:51.950 align:start position:0% there's a number that squares to a 00:13:51.950 --> 00:13:55.300 align:start position:0% there's a number that squares to a modulo<00:13:52.520> P<00:13:52.720> minus<00:13:53.720> one<00:13:53.930> if<00:13:54.080> it's<00:13:54.230> not<00:13:54.440> and<00:13:54.800> then 00:13:55.300 --> 00:13:55.310 align:start position:0% modulo P minus one if it's not and then 00:13:55.310 --> 00:13:57.460 align:start position:0% modulo P minus one if it's not and then there's<00:13:55.550> a<00:13:55.670> special<00:13:55.880> case<00:13:56.300> that<00:13:56.750> it's<00:13:56.900> zero 00:13:57.460 --> 00:13:57.470 align:start position:0% there's a special case that it's zero 00:13:57.470 --> 00:13:59.560 align:start position:0% there's a special case that it's zero if<00:13:57.529> P<00:13:58.010> divides<00:13:58.370> a<00:13:58.520> but<00:13:58.790> in<00:13:59.029> a<00:13:59.150> way<00:13:59.270> you<00:13:59.330> could 00:13:59.560 --> 00:13:59.570 align:start position:0% if P divides a but in a way you could 00:13:59.570 --> 00:14:01.210 align:start position:0% if P divides a but in a way you could say<00:13:59.630> that<00:13:59.960> never<00:14:00.200> happens<00:14:00.560> because<00:14:00.680> the<00:14:00.980> prey 00:14:01.210 --> 00:14:01.220 align:start position:0% say that never happens because the prey 00:14:01.220 --> 00:14:03.579 align:start position:0% say that never happens because the prey prime<00:14:01.640> we're<00:14:01.820> using<00:14:02.000> is<00:14:02.270> so<00:14:02.420> crazy<00:14:02.690> big<00:14:03.020> that 00:14:03.579 --> 00:14:03.589 align:start position:0% prime we're using is so crazy big that 00:14:03.589 --> 00:14:06.579 align:start position:0% prime we're using is so crazy big that this<00:14:04.010> is<00:14:04.160> like<00:14:04.339> yeah<00:14:05.330> this<00:14:05.630> is<00:14:05.990> like<00:14:06.200> a<00:14:06.230> zero 00:14:06.579 --> 00:14:06.589 align:start position:0% this is like yeah this is like a zero 00:14:06.589 --> 00:14:08.670 align:start position:0% this is like yeah this is like a zero hash<00:14:06.830> or<00:14:07.040> something<00:14:07.310> it<00:14:07.400> just<00:14:07.580> doesn't<00:14:07.850> happen 00:14:08.670 --> 00:14:08.680 align:start position:0% hash or something it just doesn't happen 00:14:08.680 --> 00:14:11.890 align:start position:0% hash or something it just doesn't happen we<00:14:09.680> normalize<00:14:10.190> this<00:14:10.490> to<00:14:10.700> a<00:14:10.730> bit<00:14:11.000> because<00:14:11.210> one 00:14:11.890 --> 00:14:11.900 align:start position:0% we normalize this to a bit because one 00:14:11.900 --> 00:14:13.870 align:start position:0% we normalize this to a bit because one one<00:14:12.290> and<00:14:12.470> minus<00:14:12.800> one<00:14:12.860> are<00:14:13.220> not<00:14:13.370> really<00:14:13.610> like<00:14:13.850> a 00:14:13.870 --> 00:14:13.880 align:start position:0% one and minus one are not really like a 00:14:13.880 --> 00:14:15.340 align:start position:0% one and minus one are not really like a nice<00:14:14.120> thing<00:14:14.330> to<00:14:14.360> work<00:14:14.630> when<00:14:14.839> within<00:14:15.290> a 00:14:15.340 --> 00:14:15.350 align:start position:0% nice thing to work when within a 00:14:15.350 --> 00:14:19.990 align:start position:0% nice thing to work when within a protocol<00:14:16.150> and<00:14:17.150> then<00:14:17.720> the<00:14:17.900> PRF<00:14:18.380> is<00:14:18.770> defined<00:14:19.580> by 00:14:19.990 --> 00:14:20.000 align:start position:0% protocol and then the PRF is defined by 00:14:20.000 --> 00:14:23.980 align:start position:0% protocol and then the PRF is defined by just<00:14:20.060> computing<00:14:21.400> this<00:14:22.400> Legendre<00:14:23.029> bit<00:14:23.210> of<00:14:23.450> the 00:14:23.980 --> 00:14:23.990 align:start position:0% just computing this Legendre bit of the 00:14:23.990 --> 00:14:28.540 align:start position:0% just computing this Legendre bit of the sum<00:14:24.260> of<00:14:24.290> the<00:14:24.589> secret<00:14:25.010> and<00:14:25.190> the<00:14:25.310> data<00:14:27.370> and<00:14:28.370> the 00:14:28.540 --> 00:14:28.550 align:start position:0% sum of the secret and the data and the 00:14:28.550 --> 00:14:30.340 align:start position:0% sum of the secret and the data and the nice<00:14:28.700> thing<00:14:28.730> is<00:14:29.000> that<00:14:29.150> this<00:14:29.480> is<00:14:29.540> super<00:14:29.870> easy<00:14:30.050> to 00:14:30.340 --> 00:14:30.350 align:start position:0% nice thing is that this is super easy to 00:14:30.350 --> 00:14:33.090 align:start position:0% nice thing is that this is super easy to compute<00:14:30.950> in<00:14:31.220> a<00:14:31.310> multi-party<00:14:31.910> computation 00:14:33.090 --> 00:14:33.100 align:start position:0% compute in a multi-party computation 00:14:33.100 --> 00:14:36.130 align:start position:0% compute in a multi-party computation I'll<00:14:34.100> not<00:14:34.459> go<00:14:34.760> over<00:14:35.089> that<00:14:35.240> in<00:14:35.540> detail<00:14:35.959> right 00:14:36.130 --> 00:14:36.140 align:start position:0% I'll not go over that in detail right 00:14:36.140 --> 00:14:38.260 align:start position:0% I'll not go over that in detail right now<00:14:36.470> because<00:14:36.680> the<00:14:37.010> time<00:14:37.220> for<00:14:37.459> that<00:14:37.970> is<00:14:38.089> a<00:14:38.120> bit 00:14:38.260 --> 00:14:38.270 align:start position:0% now because the time for that is a bit 00:14:38.270 --> 00:14:41.530 align:start position:0% now because the time for that is a bit short<00:14:38.480> but<00:14:39.410> basically<00:14:39.880> there's<00:14:40.880> a<00:14:41.029> nice<00:14:41.240> way 00:14:41.530 --> 00:14:41.540 align:start position:0% short but basically there's a nice way 00:14:41.540 --> 00:14:45.160 align:start position:0% short but basically there's a nice way to<00:14:41.570> just<00:14:41.750> blind<00:14:42.230> the<00:14:42.470> whole<00:14:42.500> thing<00:14:42.890> and<00:14:44.170> be 00:14:45.160 --> 00:14:45.170 align:start position:0% to just blind the whole thing and be 00:14:45.170 --> 00:14:47.199 align:start position:0% to just blind the whole thing and be when<00:14:45.529> it's<00:14:45.680> blinded<00:14:46.190> like<00:14:46.370> you<00:14:46.580> can<00:14:46.790> you<00:14:47.029> can 00:14:47.199 --> 00:14:47.209 align:start position:0% when it's blinded like you can you can 00:14:47.209 --> 00:14:49.060 align:start position:0% when it's blinded like you can you can do<00:14:47.360> the<00:14:47.480> extra<00:14:47.750> computation<00:14:48.050> in<00:14:48.440> the<00:14:48.470> open<00:14:48.890> and 00:14:49.060 --> 00:14:49.070 align:start position:0% do the extra computation in the open and 00:14:49.070 --> 00:14:51.040 align:start position:0% do the extra computation in the open and then<00:14:49.550> it's<00:14:49.760> very<00:14:49.850> easy<00:14:50.060> to<00:14:50.209> reconstruct<00:14:50.900> the 00:14:51.040 --> 00:14:51.050 align:start position:0% then it's very easy to reconstruct the 00:14:51.050 --> 00:14:55.900 align:start position:0% then it's very easy to reconstruct the original<00:14:51.140> result<00:14:51.740> from<00:14:52.430> that<00:14:54.610> yeah<00:14:55.610> and<00:14:55.790> then 00:14:55.900 --> 00:14:55.910 align:start position:0% original result from that yeah and then 00:14:55.910 --> 00:14:58.000 align:start position:0% original result from that yeah and then basically<00:14:56.300> we<00:14:56.480> replace<00:14:56.810> can<00:14:57.260> replace<00:14:57.680> the 00:14:58.000 --> 00:14:58.010 align:start position:0% basically we replace can replace the 00:14:58.010 --> 00:14:59.530 align:start position:0% basically we replace can replace the proof<00:14:58.310> of<00:14:58.459> custody<00:14:59.060> using<00:14:59.390> this 00:14:59.530 --> 00:14:59.540 align:start position:0% proof of custody using this 00:14:59.540 --> 00:15:03.190 align:start position:0% proof of custody using this pseudo-random<00:15:00.410> function<00:15:01.180> and<00:15:02.180> that<00:15:02.690> gives<00:15:02.990> us 00:15:03.190 --> 00:15:03.200 align:start position:0% pseudo-random function and that gives us 00:15:03.200 --> 00:15:08.310 align:start position:0% pseudo-random function and that gives us an<00:15:03.320> MPC<00:15:03.589> friendly<00:15:04.070> proof<00:15:04.279> of<00:15:04.400> caste<00:15:05.110> protocol 00:15:08.310 --> 00:15:08.320 align:start position:0% 00:15:08.320 --> 00:15:11.199 align:start position:0% yes<00:15:09.320> like<00:15:09.620> I've<00:15:10.279> been<00:15:10.580> working<00:15:10.940> on<00:15:11.060> this 00:15:11.199 --> 00:15:11.209 align:start position:0% yes like I've been working on this 00:15:11.209 --> 00:15:12.850 align:start position:0% yes like I've been working on this Legendre<00:15:11.870> function<00:15:12.290> for<00:15:12.470> a<00:15:12.500> while<00:15:12.650> now 00:15:12.850 --> 00:15:12.860 align:start position:0% Legendre function for a while now 00:15:12.860 --> 00:15:14.680 align:start position:0% Legendre function for a while now because<00:15:13.220> we<00:15:13.370> really<00:15:13.580> want<00:15:13.760> to<00:15:13.850> use<00:15:14.060> it<00:15:14.240> the 00:15:14.680 --> 00:15:14.690 align:start position:0% because we really want to use it the 00:15:14.690 --> 00:15:16.690 align:start position:0% because we really want to use it the only<00:15:14.900> problem<00:15:15.529> with<00:15:15.650> it<00:15:15.860> at<00:15:16.010> the<00:15:16.160> moment<00:15:16.339> is 00:15:16.690 --> 00:15:16.700 align:start position:0% only problem with it at the moment is 00:15:16.700 --> 00:15:19.180 align:start position:0% only problem with it at the moment is that<00:15:16.810> it<00:15:17.810> hasn't<00:15:18.020> had<00:15:18.290> a<00:15:18.320> terrible<00:15:18.740> amount<00:15:19.040> of 00:15:19.180 --> 00:15:19.190 align:start position:0% that it hasn't had a terrible amount of 00:15:19.190 --> 00:15:21.100 align:start position:0% that it hasn't had a terrible amount of crypt<00:15:19.430> analysis<00:15:20.029> and<00:15:20.630> so<00:15:20.750> we're<00:15:20.930> currently 00:15:21.100 --> 00:15:21.110 align:start position:0% crypt analysis and so we're currently 00:15:21.110 --> 00:15:25.030 align:start position:0% crypt analysis and so we're currently working<00:15:21.950> on<00:15:22.790> improving<00:15:23.120> that<00:15:23.500> so<00:15:24.500> one<00:15:24.709> thing<00:15:24.950> I 00:15:25.030 --> 00:15:25.040 align:start position:0% working on improving that so one thing I 00:15:25.040 --> 00:15:28.210 align:start position:0% working on improving that so one thing I wanted<00:15:25.310> to<00:15:25.370> mention<00:15:25.550> here<00:15:25.970> is<00:15:26.180> like<00:15:26.830> we<00:15:27.830> set 00:15:28.210 --> 00:15:28.220 align:start position:0% wanted to mention here is like we set 00:15:28.220 --> 00:15:31.780 align:start position:0% wanted to mention here is like we set those<00:15:28.510> bounties<00:15:29.510> on<00:15:29.810> like<00:15:30.640> improving<00:15:31.640> the 00:15:31.780 --> 00:15:31.790 align:start position:0% those bounties on like improving the 00:15:31.790 --> 00:15:35.150 align:start position:0% those bounties on like improving the state<00:15:32.060> so<00:15:32.540> like<00:15:32.780> we<00:15:33.709> have<00:15:33.920> both 00:15:35.150 --> 00:15:35.160 align:start position:0% state so like we have both 00:15:35.160 --> 00:15:38.180 align:start position:0% state so like we have both like<00:15:36.029> asymptotic<00:15:36.930> bounties<00:15:37.380> for<00:15:37.649> finding<00:15:38.040> any 00:15:38.180 --> 00:15:38.190 align:start position:0% like asymptotic bounties for finding any 00:15:38.190 --> 00:15:41.930 align:start position:0% like asymptotic bounties for finding any better<00:15:38.459> algorithms<00:15:39.380> and<00:15:40.380> some<00:15:41.310> concrete<00:15:41.610> ones 00:15:41.930 --> 00:15:41.940 align:start position:0% better algorithms and some concrete ones 00:15:41.940 --> 00:15:43.850 align:start position:0% better algorithms and some concrete ones there<00:15:42.209> will<00:15:42.360> soon<00:15:42.600> be<00:15:42.660> a<00:15:42.839> smart<00:15:43.200> contract<00:15:43.410> for 00:15:43.850 --> 00:15:43.860 align:start position:0% there will soon be a smart contract for 00:15:43.860 --> 00:15:46.639 align:start position:0% there will soon be a smart contract for resolving<00:15:44.070> this<00:15:44.399> so<00:15:44.870> stay<00:15:45.870> tuned<00:15:46.139> but<00:15:46.350> you<00:15:46.500> can 00:15:46.639 --> 00:15:46.649 align:start position:0% resolving this so stay tuned but you can 00:15:46.649 --> 00:15:49.250 align:start position:0% resolving this so stay tuned but you can already<00:15:46.950> on<00:15:47.670> the<00:15:47.940> Ronda<00:15:48.240> POF<00:15:48.570> dot<00:15:48.779> orc<00:15:48.990> stash 00:15:49.250 --> 00:15:49.260 align:start position:0% already on the Ronda POF dot orc stash 00:15:49.260 --> 00:15:51.050 align:start position:0% already on the Ronda POF dot orc stash bounties<00:15:49.680> can<00:15:50.190> already<00:15:50.370> get<00:15:50.880> those 00:15:51.050 --> 00:15:51.060 align:start position:0% bounties can already get those 00:15:51.060 --> 00:15:52.699 align:start position:0% bounties can already get those challenges<00:15:51.600> if<00:15:51.750> you<00:15:51.839> find<00:15:52.050> a<00:15:52.110> solution<00:15:52.380> just 00:15:52.699 --> 00:15:52.709 align:start position:0% challenges if you find a solution just 00:15:52.709 --> 00:15:55.100 align:start position:0% challenges if you find a solution just email<00:15:53.040> me<00:15:53.190> and<00:15:53.370> then<00:15:53.519> you<00:15:54.300> can<00:15:54.449> also<00:15:54.600> already 00:15:55.100 --> 00:15:55.110 align:start position:0% email me and then you can also already 00:15:55.110 --> 00:15:58.430 align:start position:0% email me and then you can also already claim<00:15:55.350> them<00:15:55.639> yeah<00:15:56.639> so<00:15:56.670> basically<00:15:57.180> you<00:15:57.300> can<00:15:57.540> win 00:15:58.430 --> 00:15:58.440 align:start position:0% claim them yeah so basically you can win 00:15:58.440 --> 00:16:02.150 align:start position:0% claim them yeah so basically you can win between<00:15:58.699> one<00:15:59.699> and<00:16:00.029> sixteen<00:16:00.959> eighth<00:16:01.260> for 00:16:02.150 --> 00:16:02.160 align:start position:0% between one and sixteen eighth for 00:16:02.160 --> 00:16:05.660 align:start position:0% between one and sixteen eighth for finding<00:16:02.690> basically<00:16:03.690> is<00:16:03.750> yeah<00:16:04.589> keys<00:16:04.860> for<00:16:05.490> later 00:16:05.660 --> 00:16:05.670 align:start position:0% finding basically is yeah keys for later 00:16:05.670 --> 00:16:09.050 align:start position:0% finding basically is yeah keys for later on<00:16:05.760> in<00:16:06.180> different<00:16:07.139> instances<00:16:07.709> the<00:16:08.610> smallest 00:16:09.050 --> 00:16:09.060 align:start position:0% on in different instances the smallest 00:16:09.060 --> 00:16:10.879 align:start position:0% on in different instances the smallest ones<00:16:09.449> are<00:16:09.660> designed<00:16:10.019> so<00:16:10.260> that<00:16:10.290> like<00:16:10.649> with<00:16:10.860> a 00:16:10.879 --> 00:16:10.889 align:start position:0% ones are designed so that like with a 00:16:10.889 --> 00:16:12.680 align:start position:0% ones are designed so that like with a few<00:16:11.190> months<00:16:11.519> or<00:16:11.670> so<00:16:11.790> of<00:16:11.910> compute<00:16:12.300> time<00:16:12.420> you<00:16:12.540> can 00:16:12.680 --> 00:16:12.690 align:start position:0% few months or so of compute time you can 00:16:12.690 --> 00:16:14.269 align:start position:0% few months or so of compute time you can actually<00:16:12.839> solve<00:16:13.110> them<00:16:13.320> so<00:16:13.470> I'm<00:16:13.589> expecting 00:16:14.269 --> 00:16:14.279 align:start position:0% actually solve them so I'm expecting 00:16:14.279 --> 00:16:15.829 align:start position:0% actually solve them so I'm expecting them<00:16:14.610> to<00:16:14.639> be<00:16:14.730> solved<00:16:15.120> but<00:16:15.269> would<00:16:15.449> be<00:16:15.600> really 00:16:15.829 --> 00:16:15.839 align:start position:0% them to be solved but would be really 00:16:15.839 --> 00:16:17.150 align:start position:0% them to be solved but would be really interested<00:16:16.260> in<00:16:16.350> how<00:16:16.410> long<00:16:16.470> it<00:16:16.709> actually<00:16:16.740> takes 00:16:17.150 --> 00:16:17.160 align:start position:0% interested in how long it actually takes 00:16:17.160 --> 00:16:20.150 align:start position:0% interested in how long it actually takes the<00:16:17.910> most<00:16:18.089> difficult<00:16:18.570> ones<00:16:18.779> hopefully<00:16:19.529> no<00:16:19.980> one 00:16:20.150 --> 00:16:20.160 align:start position:0% the most difficult ones hopefully no one 00:16:20.160 --> 00:16:22.970 align:start position:0% the most difficult ones hopefully no one can<00:16:20.339> ever<00:16:20.459> solve<00:16:20.790> but<00:16:21.199> yeah<00:16:22.199> we<00:16:22.410> want<00:16:22.709> to<00:16:22.800> know 00:16:22.970 --> 00:16:22.980 align:start position:0% can ever solve but yeah we want to know 00:16:22.980 --> 00:16:23.870 align:start position:0% can ever solve but yeah we want to know if<00:16:23.130> there<00:16:23.310> are<00:16:23.339> any<00:16:23.399> algorithmic 00:16:23.870 --> 00:16:23.880 align:start position:0% if there are any algorithmic 00:16:23.880 --> 00:16:27.230 align:start position:0% if there are any algorithmic improvements<00:16:24.120> that<00:16:24.690> might<00:16:24.839> change<00:16:25.019> this<00:16:26.240> cool 00:16:27.230 --> 00:16:27.240 align:start position:0% improvements that might change this cool 00:16:27.240 --> 00:16:28.040 align:start position:0% improvements that might change this cool yeah 00:16:28.040 --> 00:16:28.050 align:start position:0% yeah 00:16:28.050 --> 00:16:31.759 align:start position:0% yeah with<00:16:28.199> this<00:16:28.380> I'll<00:16:28.740> hand<00:16:29.100> over<00:16:29.160> to<00:16:29.339> cow<00:16:30.529> cool<00:16:31.529> so 00:16:31.759 --> 00:16:31.769 align:start position:0% with this I'll hand over to cow cool so 00:16:31.769 --> 00:16:35.120 align:start position:0% with this I'll hand over to cow cool so moving<00:16:32.339> on<00:16:32.490> as<00:16:32.790> to<00:16:33.180> how<00:16:33.570> we<00:16:33.630> actually<00:16:34.290> apply 00:16:35.120 --> 00:16:35.130 align:start position:0% moving on as to how we actually apply 00:16:35.130 --> 00:16:36.800 align:start position:0% moving on as to how we actually apply this<00:16:35.190> this<00:16:35.880> can<00:16:36.060> be<00:16:36.120> a<00:16:36.180> bit<00:16:36.300> faster<00:16:36.600> due<00:16:36.690> to 00:16:36.800 --> 00:16:36.810 align:start position:0% this this can be a bit faster due to 00:16:36.810 --> 00:16:39.650 align:start position:0% this this can be a bit faster due to time<00:16:36.959> constraints<00:16:37.440> but<00:16:37.649> here<00:16:38.010> we<00:16:38.070> go<00:16:38.660> so 00:16:39.650 --> 00:16:39.660 align:start position:0% time constraints but here we go so 00:16:39.660 --> 00:16:40.819 align:start position:0% time constraints but here we go so there's<00:16:39.750> a<00:16:39.870> distinction<00:16:40.199> to<00:16:40.440> make<00:16:40.470> here 00:16:40.819 --> 00:16:40.829 align:start position:0% there's a distinction to make here 00:16:40.829 --> 00:16:43.430 align:start position:0% there's a distinction to make here quickly<00:16:41.220> between<00:16:41.720> two<00:16:42.720> ways<00:16:42.839> of<00:16:43.019> constructing 00:16:43.430 --> 00:16:43.440 align:start position:0% quickly between two ways of constructing 00:16:43.440 --> 00:16:48.410 align:start position:0% quickly between two ways of constructing pools<00:16:43.860> one<00:16:44.190> is<00:16:44.370> where<00:16:44.570> you<00:16:45.570> try<00:16:45.779> use<00:16:46.820> you<00:16:47.820> use 00:16:48.410 --> 00:16:48.420 align:start position:0% pools one is where you try use you use 00:16:48.420 --> 00:16:51.530 align:start position:0% pools one is where you try use you use economic<00:16:48.720> incentives<00:16:49.560> and<00:16:50.540> custodial 00:16:51.530 --> 00:16:51.540 align:start position:0% economic incentives and custodial 00:16:51.540 --> 00:16:55.040 align:start position:0% economic incentives and custodial relationships<00:16:52.260> to<00:16:52.649> to<00:16:53.430> manage<00:16:53.760> a<00:16:53.970> pool<00:16:54.180> which 00:16:55.040 --> 00:16:55.050 align:start position:0% relationships to to manage a pool which 00:16:55.050 --> 00:16:57.170 align:start position:0% relationships to to manage a pool which is<00:16:55.170> more<00:16:55.320> like<00:16:55.529> the<00:16:55.680> case<00:16:55.860> of<00:16:56.100> rocket<00:16:57.000> pool 00:16:57.170 --> 00:16:57.180 align:start position:0% is more like the case of rocket pool 00:16:57.180 --> 00:16:59.509 align:start position:0% is more like the case of rocket pool whereas<00:16:57.930> this<00:16:58.260> is<00:16:58.500> more<00:16:58.560> designed<00:16:59.100> to<00:16:59.250> be<00:16:59.370> run 00:16:59.509 --> 00:16:59.519 align:start position:0% whereas this is more designed to be run 00:16:59.519 --> 00:17:01.220 align:start position:0% whereas this is more designed to be run in<00:16:59.760> an<00:16:59.850> NPC<00:17:00.300> where<00:17:00.510> you<00:17:00.630> want<00:17:00.810> to<00:17:00.870> be<00:17:00.930> involved 00:17:01.220 --> 00:17:01.230 align:start position:0% in an NPC where you want to be involved 00:17:01.230 --> 00:17:04.220 align:start position:0% in an NPC where you want to be involved in<00:17:01.620> the<00:17:02.579> pooling<00:17:03.269> structure<00:17:03.570> so<00:17:03.930> you<00:17:03.990> don't 00:17:04.220 --> 00:17:04.230 align:start position:0% in the pooling structure so you don't 00:17:04.230 --> 00:17:06.559 align:start position:0% in the pooling structure so you don't want<00:17:04.350> to<00:17:04.439> hand<00:17:04.949> your<00:17:05.100> ether<00:17:06.000> over<00:17:06.150> to<00:17:06.360> a<00:17:06.419> pool 00:17:06.559 --> 00:17:06.569 align:start position:0% want to hand your ether over to a pool 00:17:06.569 --> 00:17:09.409 align:start position:0% want to hand your ether over to a pool even<00:17:06.839> if<00:17:06.929> they<00:17:07.140> are<00:17:07.260> incentivized<00:17:08.150> so<00:17:09.150> these 00:17:09.409 --> 00:17:09.419 align:start position:0% even if they are incentivized so these 00:17:09.419 --> 00:17:11.419 align:start position:0% even if they are incentivized so these are<00:17:09.660> what<00:17:10.079> you<00:17:10.380> are<00:17:10.500> required<00:17:10.650> to<00:17:10.980> do<00:17:11.130> as<00:17:11.400> a 00:17:11.419 --> 00:17:11.429 align:start position:0% are what you are required to do as a 00:17:11.429 --> 00:17:14.210 align:start position:0% are what you are required to do as a validator<00:17:12.120> within<00:17:12.569> e<00:17:12.809> 2.0<00:17:13.679> these<00:17:13.949> are<00:17:14.100> the 00:17:14.210 --> 00:17:14.220 align:start position:0% validator within e 2.0 these are the 00:17:14.220 --> 00:17:16.189 align:start position:0% validator within e 2.0 these are the primary<00:17:14.939> responsibilities<00:17:15.689> with<00:17:16.020> their 00:17:16.189 --> 00:17:16.199 align:start position:0% primary responsibilities with their 00:17:16.199 --> 00:17:19.419 align:start position:0% primary responsibilities with their frequencies<00:17:17.089> and<00:17:18.089> all<00:17:18.660> of<00:17:18.780> this<00:17:18.900> is 00:17:19.419 --> 00:17:19.429 align:start position:0% frequencies and all of this is 00:17:19.429 --> 00:17:23.059 align:start position:0% frequencies and all of this is relatively<00:17:20.429> cheap<00:17:21.089> in<00:17:21.750> terms<00:17:21.780> of<00:17:22.169> a<00:17:22.380> port<00:17:22.980> and 00:17:23.059 --> 00:17:23.069 align:start position:0% relatively cheap in terms of a port and 00:17:23.069 --> 00:17:25.610 align:start position:0% relatively cheap in terms of a port and it<00:17:23.160> needs<00:17:23.339> to<00:17:23.429> be<00:17:23.610> done<00:17:24.049> and<00:17:25.049> as<00:17:25.350> you<00:17:25.470> can<00:17:25.559> see 00:17:25.610 --> 00:17:25.620 align:start position:0% it needs to be done and as you can see 00:17:25.620 --> 00:17:28.700 align:start position:0% it needs to be done and as you can see things<00:17:26.010> like<00:17:26.280> the<00:17:26.549> ABC<00:17:27.199> calculated<00:17:28.199> legendre 00:17:28.700 --> 00:17:28.710 align:start position:0% things like the ABC calculated legendre 00:17:28.710 --> 00:17:32.930 align:start position:0% things like the ABC calculated legendre shows<00:17:29.070> up<00:17:29.250> once<00:17:30.240> an<00:17:30.390> epoch<00:17:31.669> and<00:17:32.669> so<00:17:32.820> these 00:17:32.930 --> 00:17:32.940 align:start position:0% shows up once an epoch and so these 00:17:32.940 --> 00:17:37.010 align:start position:0% shows up once an epoch and so these kinds<00:17:33.179> of<00:17:33.210> things<00:17:33.270> are<00:17:34.730> enabled<00:17:35.730> by<00:17:35.820> the<00:17:36.540> bank 00:17:37.010 --> 00:17:37.020 align:start position:0% kinds of things are enabled by the bank 00:17:37.020 --> 00:17:41.659 align:start position:0% kinds of things are enabled by the bank represented<00:17:37.669> skip<00:17:38.669> over<00:17:38.790> that<00:17:39.950> so<00:17:40.950> the 00:17:41.659 --> 00:17:41.669 align:start position:0% represented skip over that so the 00:17:41.669 --> 00:17:42.919 align:start position:0% represented skip over that so the obvious<00:17:42.059> way<00:17:42.330> to<00:17:42.360> do<00:17:42.600> this<00:17:42.720> would<00:17:42.870> be 00:17:42.919 --> 00:17:42.929 align:start position:0% obvious way to do this would be 00:17:42.929 --> 00:17:45.560 align:start position:0% obvious way to do this would be something<00:17:43.470> like<00:17:43.650> pbft<00:17:44.490> consensus<00:17:45.120> for<00:17:45.330> a<00:17:45.360> pool 00:17:45.560 --> 00:17:45.570 align:start position:0% something like pbft consensus for a pool 00:17:45.570 --> 00:17:48.649 align:start position:0% something like pbft consensus for a pool because<00:17:45.960> we<00:17:46.110> need<00:17:46.320> a<00:17:46.590> system<00:17:47.010> that<00:17:47.220> is 00:17:48.649 --> 00:17:48.659 align:start position:0% because we need a system that is 00:17:48.659 --> 00:17:50.839 align:start position:0% because we need a system that is safe<00:17:48.929> but<00:17:49.169> not<00:17:49.259> live<00:17:49.499> because<00:17:50.340> if<00:17:50.580> you<00:17:50.669> ever 00:17:50.839 --> 00:17:50.849 align:start position:0% safe but not live because if you ever 00:17:50.849 --> 00:17:54.739 align:start position:0% safe but not live because if you ever commit<00:17:51.210> something<00:17:51.599> that<00:17:51.869> is<00:17:52.139> not<00:17:52.799> not<00:17:53.039> a<00:17:53.749> super 00:17:54.739 --> 00:17:54.749 align:start position:0% commit something that is not not a super 00:17:54.749 --> 00:17:56.930 align:start position:0% commit something that is not not a super majority<00:17:54.869> of<00:17:55.320> your<00:17:55.470> nodes<00:17:55.950> agree<00:17:56.279> with<00:17:56.460> then 00:17:56.930 --> 00:17:56.940 align:start position:0% majority of your nodes agree with then 00:17:56.940 --> 00:17:58.070 align:start position:0% majority of your nodes agree with then you've<00:17:57.090> run<00:17:57.210> into<00:17:57.330> the<00:17:57.509> scenario<00:17:57.869> where<00:17:58.019> you 00:17:58.070 --> 00:17:58.080 align:start position:0% you've run into the scenario where you 00:17:58.080 --> 00:18:01.879 align:start position:0% you've run into the scenario where you can<00:17:58.259> get<00:17:58.349> your<00:17:58.529> poor<00:17:58.950> slashed<00:17:59.570> a<00:18:00.889> relatively 00:18:01.879 --> 00:18:01.889 align:start position:0% can get your poor slashed a relatively 00:18:01.889 --> 00:18:05.899 align:start position:0% can get your poor slashed a relatively easy<00:18:02.099> way<00:18:02.369> of<00:18:03.320> achieving<00:18:04.320> this<00:18:04.799> is<00:18:05.129> actually 00:18:05.899 --> 00:18:05.909 align:start position:0% easy way of achieving this is actually 00:18:05.909 --> 00:18:09.320 align:start position:0% easy way of achieving this is actually just<00:18:06.119> using<00:18:06.509> the<00:18:07.080> ELS<00:18:07.769> signatures<00:18:08.249> so<00:18:08.580> you<00:18:09.090> set 00:18:09.320 --> 00:18:09.330 align:start position:0% just using the ELS signatures so you set 00:18:09.330 --> 00:18:11.479 align:start position:0% just using the ELS signatures so you set your<00:18:09.359> threshold<00:18:09.779> as<00:18:10.349> 2/3<00:18:10.919> of<00:18:10.979> your<00:18:11.039> pool<00:18:11.309> size 00:18:11.479 --> 00:18:11.489 align:start position:0% your threshold as 2/3 of your pool size 00:18:11.489 --> 00:18:16.369 align:start position:0% your threshold as 2/3 of your pool size and<00:18:13.909> based<00:18:14.909> on<00:18:15.090> this<00:18:15.210> if<00:18:15.779> you<00:18:15.840> have<00:18:15.989> to<00:18:16.019> propose 00:18:16.369 --> 00:18:16.379 align:start position:0% and based on this if you have to propose 00:18:16.379 --> 00:18:19.580 align:start position:0% and based on this if you have to propose one<00:18:17.099> of<00:18:17.220> the<00:18:17.340> pool<00:18:17.549> members<00:18:17.669> proposes<00:18:18.590> but 00:18:19.580 --> 00:18:19.590 align:start position:0% one of the pool members proposes but 00:18:19.590 --> 00:18:21.859 align:start position:0% one of the pool members proposes but otherwise<00:18:19.799> you<00:18:20.609> see<00:18:20.999> what<00:18:21.330> your<00:18:21.450> attestation 00:18:21.859 --> 00:18:21.869 align:start position:0% otherwise you see what your attestation 00:18:21.869 --> 00:18:23.869 align:start position:0% otherwise you see what your attestation duties<00:18:22.349> are<00:18:22.529> this<00:18:22.739> is<00:18:22.889> available<00:18:23.340> if<00:18:23.549> you<00:18:23.729> have 00:18:23.869 --> 00:18:23.879 align:start position:0% duties are this is available if you have 00:18:23.879 --> 00:18:27.289 align:start position:0% duties are this is available if you have a<00:18:24.090> view<00:18:24.419> of<00:18:24.539> the<00:18:24.659> chain<00:18:25.820> you<00:18:26.820> compute<00:18:27.210> the 00:18:27.289 --> 00:18:27.299 align:start position:0% a view of the chain you compute the 00:18:27.299 --> 00:18:29.629 align:start position:0% a view of the chain you compute the appropriate<00:18:27.869> custody<00:18:28.259> bit<00:18:28.470> and<00:18:28.739> you<00:18:29.279> sign<00:18:29.489> an 00:18:29.629 --> 00:18:29.639 align:start position:0% appropriate custody bit and you sign an 00:18:29.639 --> 00:18:32.180 align:start position:0% appropriate custody bit and you sign an attestation<00:18:30.409> only<00:18:31.409> if<00:18:31.559> the<00:18:31.710> center<00:18:31.979> station 00:18:32.180 --> 00:18:32.190 align:start position:0% attestation only if the center station 00:18:32.190 --> 00:18:34.580 align:start position:0% attestation only if the center station you<00:18:32.879> think<00:18:33.239> is<00:18:33.359> valid<00:18:33.659> in<00:18:33.809> your<00:18:33.929> local<00:18:34.289> view 00:18:34.580 --> 00:18:34.590 align:start position:0% you think is valid in your local view 00:18:34.590 --> 00:18:37.279 align:start position:0% you think is valid in your local view and<00:18:34.799> this<00:18:35.039> is<00:18:35.450> with<00:18:36.450> basically<00:18:36.869> the<00:18:36.960> overhead 00:18:37.279 --> 00:18:37.289 align:start position:0% and this is with basically the overhead 00:18:37.289 --> 00:18:39.200 align:start position:0% and this is with basically the overhead have<00:18:37.440> only<00:18:37.590> barely<00:18:37.859> signatures<00:18:38.460> press<00:18:38.909> the 00:18:39.200 --> 00:18:39.210 align:start position:0% have only barely signatures press the 00:18:39.210 --> 00:18:41.180 align:start position:0% have only barely signatures press the custody<00:18:39.720> butts<00:18:39.989> that<00:18:40.139> dunk<00:18:40.649> rod<00:18:40.799> presented 00:18:41.180 --> 00:18:41.190 align:start position:0% custody butts that dunk rod presented 00:18:41.190 --> 00:18:45.889 align:start position:0% custody butts that dunk rod presented earlier<00:18:41.809> allows<00:18:42.809> you<00:18:43.049> to<00:18:43.229> have<00:18:44.269> pooling<00:18:45.269> which 00:18:45.889 --> 00:18:45.899 align:start position:0% earlier allows you to have pooling which 00:18:45.899 --> 00:18:49.729 align:start position:0% earlier allows you to have pooling which is<00:18:46.109> very<00:18:46.710> cool<00:18:48.409> unfortunately<00:18:49.409> that<00:18:49.559> doesn't 00:18:49.729 --> 00:18:49.739 align:start position:0% is very cool unfortunately that doesn't 00:18:49.739 --> 00:18:52.489 align:start position:0% is very cool unfortunately that doesn't guarantee<00:18:50.460> consistency<00:18:51.229> because<00:18:52.229> it's<00:18:52.379> not<00:18:52.470> a 00:18:52.489 --> 00:18:52.499 align:start position:0% guarantee consistency because it's not a 00:18:52.499 --> 00:18:54.379 align:start position:0% guarantee consistency because it's not a full<00:18:52.590> consensus<00:18:53.159> protocol<00:18:53.549> people<00:18:54.210> can 00:18:54.379 --> 00:18:54.389 align:start position:0% full consensus protocol people can 00:18:54.389 --> 00:18:58.369 align:start position:0% full consensus protocol people can disagree<00:18:54.779> as<00:18:55.109> to<00:18:55.139> the<00:18:55.649> state<00:18:56.070> of<00:18:57.229> what<00:18:58.229> the 00:18:58.369 --> 00:18:58.379 align:start position:0% disagree as to the state of what the 00:18:58.379 --> 00:19:01.009 align:start position:0% disagree as to the state of what the chain<00:18:58.619> is<00:18:58.769> at<00:18:58.889> any<00:18:59.009> given<00:18:59.220> time<00:18:59.460> so<00:19:00.029> basically 00:19:01.009 --> 00:19:01.019 align:start position:0% chain is at any given time so basically 00:19:01.019 --> 00:19:04.759 align:start position:0% chain is at any given time so basically you<00:19:01.649> can<00:19:01.769> have<00:19:01.879> some<00:19:02.879> structure<00:19:03.809> that<00:19:04.049> runs 00:19:04.759 --> 00:19:04.769 align:start position:0% you can have some structure that runs 00:19:04.769 --> 00:19:07.460 align:start position:0% you can have some structure that runs pbft<00:19:05.190> if<00:19:05.609> you<00:19:05.849> run<00:19:06.059> into<00:19:06.239> some<00:19:06.389> unhappy<00:19:07.259> case 00:19:07.460 --> 00:19:07.470 align:start position:0% pbft if you run into some unhappy case 00:19:07.470 --> 00:19:11.419 align:start position:0% pbft if you run into some unhappy case where<00:19:07.710> the<00:19:07.799> pool<00:19:07.950> gets<00:19:08.159> out<00:19:08.279> of<00:19:08.369> sync<00:19:08.549> and<00:19:10.429> you 00:19:11.419 --> 00:19:11.429 align:start position:0% where the pool gets out of sync and you 00:19:11.429 --> 00:19:14.149 align:start position:0% where the pool gets out of sync and you can<00:19:11.729> also<00:19:12.529> make<00:19:13.529> the<00:19:13.710> slightly<00:19:13.950> more 00:19:14.149 --> 00:19:14.159 align:start position:0% can also make the slightly more 00:19:14.159 --> 00:19:15.560 align:start position:0% can also make the slightly more interesting<00:19:14.369> which<00:19:14.759> is<00:19:14.879> where<00:19:15.029> you<00:19:15.119> have<00:19:15.149> some 00:19:15.560 --> 00:19:15.570 align:start position:0% interesting which is where you have some 00:19:15.570 --> 00:19:17.299 align:start position:0% interesting which is where you have some kind<00:19:15.599> of<00:19:15.809> meta<00:19:16.019> pool<00:19:16.259> which<00:19:16.590> exists<00:19:17.099> between 00:19:17.299 --> 00:19:17.309 align:start position:0% kind of meta pool which exists between 00:19:17.309 --> 00:19:19.460 align:start position:0% kind of meta pool which exists between the<00:19:17.549> pools<00:19:17.759> so<00:19:18.330> as<00:19:18.599> a<00:19:18.629> pool<00:19:18.899> member<00:19:19.169> you<00:19:19.320> don't 00:19:19.460 --> 00:19:19.470 align:start position:0% the pools so as a pool member you don't 00:19:19.470 --> 00:19:20.810 align:start position:0% the pools so as a pool member you don't only<00:19:19.590> participate<00:19:20.129> in<00:19:20.249> your<00:19:20.340> pool<00:19:20.549> but<00:19:20.759> you 00:19:20.810 --> 00:19:20.820 align:start position:0% only participate in your pool but you 00:19:20.820 --> 00:19:23.659 align:start position:0% only participate in your pool but you participate<00:19:21.809> in<00:19:22.049> this<00:19:22.200> larger<00:19:23.009> meta<00:19:23.159> pool<00:19:23.429> and 00:19:23.659 --> 00:19:23.669 align:start position:0% participate in this larger meta pool and 00:19:23.669 --> 00:19:26.570 align:start position:0% participate in this larger meta pool and this<00:19:24.570> allows<00:19:24.840> you<00:19:25.049> to<00:19:25.259> use<00:19:25.769> the<00:19:25.919> meta<00:19:26.099> pool<00:19:26.369> to 00:19:26.570 --> 00:19:26.580 align:start position:0% this allows you to use the meta pool to 00:19:26.580 --> 00:19:28.129 align:start position:0% this allows you to use the meta pool to have<00:19:26.729> false<00:19:26.999> attribution<00:19:27.570> where<00:19:27.720> you<00:19:27.809> prove 00:19:28.129 --> 00:19:28.139 align:start position:0% have false attribution where you prove 00:19:28.139 --> 00:19:30.799 align:start position:0% have false attribution where you prove to<00:19:28.409> the<00:19:28.499> rest<00:19:28.710> of<00:19:28.830> the<00:19:28.950> pool<00:19:29.159> that<00:19:29.809> there's 00:19:30.799 --> 00:19:30.809 align:start position:0% to the rest of the pool that there's 00:19:30.809 --> 00:19:32.029 align:start position:0% to the rest of the pool that there's metal<00:19:31.080> pool<00:19:31.229> that<00:19:31.440> someone<00:19:31.769> did<00:19:31.889> something 00:19:32.029 --> 00:19:32.039 align:start position:0% metal pool that someone did something 00:19:32.039 --> 00:19:34.669 align:start position:0% metal pool that someone did something bad<00:19:32.340> in<00:19:32.820> your<00:19:32.999> pool<00:19:33.239> and<00:19:33.389> then<00:19:33.690> if<00:19:33.960> one<00:19:34.440> of<00:19:34.559> your 00:19:34.669 --> 00:19:34.679 align:start position:0% bad in your pool and then if one of your 00:19:34.679 --> 00:19:37.190 align:start position:0% bad in your pool and then if one of your pool<00:19:34.919> members<00:19:35.249> got<00:19:35.489> you<00:19:35.639> slashed<00:19:36.019> got<00:19:37.019> got 00:19:37.190 --> 00:19:37.200 align:start position:0% pool members got you slashed got got 00:19:37.200 --> 00:19:38.960 align:start position:0% pool members got you slashed got got your<00:19:37.349> pool<00:19:37.529> slashed<00:19:37.799> you<00:19:38.039> can<00:19:38.220> because<00:19:38.849> the 00:19:38.960 --> 00:19:38.970 align:start position:0% your pool slashed you can because the 00:19:38.970 --> 00:19:40.369 align:start position:0% your pool slashed you can because the slash<00:19:39.149> is<00:19:39.330> not<00:19:39.450> burning<00:19:39.629> all<00:19:39.869> of<00:19:39.989> the<00:19:40.049> ether 00:19:40.369 --> 00:19:40.379 align:start position:0% slash is not burning all of the ether 00:19:40.379 --> 00:19:42.320 align:start position:0% slash is not burning all of the ether it's<00:19:40.950> only<00:19:41.099> burning<00:19:41.340> a<00:19:41.489> portion<00:19:41.909> you<00:19:42.299> can 00:19:42.320 --> 00:19:42.330 align:start position:0% it's only burning a portion you can 00:19:42.330 --> 00:19:44.330 align:start position:0% it's only burning a portion you can basically<00:19:42.779> take<00:19:43.200> all<00:19:43.409> of<00:19:43.440> that<00:19:43.559> so<00:19:44.070> that<00:19:44.099> the 00:19:44.330 --> 00:19:44.340 align:start position:0% basically take all of that so that the 00:19:44.340 --> 00:19:46.759 align:start position:0% basically take all of that so that the negative<00:19:44.659> penalty<00:19:45.659> and<00:19:45.809> put<00:19:46.349> it<00:19:46.440> on<00:19:46.529> that<00:19:46.649> one 00:19:46.759 --> 00:19:46.769 align:start position:0% negative penalty and put it on that one 00:19:46.769 --> 00:19:48.680 align:start position:0% negative penalty and put it on that one person<00:19:47.129> who<00:19:47.190> is<00:19:47.279> bad<00:19:47.489> and<00:19:47.759> give<00:19:48.419> the<00:19:48.539> other 00:19:48.680 --> 00:19:48.690 align:start position:0% person who is bad and give the other 00:19:48.690 --> 00:19:52.159 align:start position:0% person who is bad and give the other people<00:19:49.519> their<00:19:50.519> money<00:19:50.700> back<00:19:50.909> and<00:19:51.389> in<00:19:51.809> fact<00:19:52.049> it 00:19:52.159 --> 00:19:52.169 align:start position:0% people their money back and in fact it 00:19:52.169 --> 00:19:55.399 align:start position:0% people their money back and in fact it may<00:19:52.320> it<00:19:52.679> may<00:19:52.710> turn<00:19:53.039> out<00:19:53.249> that<00:19:53.450> you<00:19:54.450> can<00:19:55.229> get 00:19:55.399 --> 00:19:55.409 align:start position:0% may it may turn out that you can get 00:19:55.409 --> 00:19:56.960 align:start position:0% may it may turn out that you can get more<00:19:55.559> money<00:19:55.769> out<00:19:55.950> so<00:19:56.190> you<00:19:56.340> may<00:19:56.429> make<00:19:56.549> a<00:19:56.609> profit 00:19:56.960 --> 00:19:56.970 align:start position:0% more money out so you may make a profit 00:19:56.970 --> 00:19:58.129 align:start position:0% more money out so you may make a profit if<00:19:57.059> one<00:19:57.179> of<00:19:57.269> your<00:19:57.359> pool<00:19:57.509> members<00:19:57.629> get<00:19:57.869> slashed 00:19:58.129 --> 00:19:58.139 align:start position:0% if one of your pool members get slashed 00:19:58.139 --> 00:20:00.379 align:start position:0% if one of your pool members get slashed which<00:19:58.769> is<00:19:58.979> pretty<00:19:59.429> cool<00:19:59.580> depends<00:19:59.999> on<00:20:00.089> exactly 00:20:00.379 --> 00:20:00.389 align:start position:0% which is pretty cool depends on exactly 00:20:00.389 --> 00:20:02.570 align:start position:0% which is pretty cool depends on exactly how<00:20:00.479> you<00:20:00.659> construct<00:20:01.080> it<00:20:01.169> so<00:20:01.409> yeah<00:20:01.919> that's 00:20:02.570 --> 00:20:02.580 align:start position:0% how you construct it so yeah that's 00:20:02.580 --> 00:20:05.090 align:start position:0% how you construct it so yeah that's the<00:20:02.850> basic<00:20:03.510> construction<00:20:03.870> and<00:20:04.200> how<00:20:04.770> something 00:20:05.090 --> 00:20:05.100 align:start position:0% the basic construction and how something 00:20:05.100 --> 00:20:09.150 align:start position:0% the basic construction and how something like<00:20:05.220> this<00:20:05.340> would<00:20:05.520> work<00:20:05.640> within<00:20:05.910> each<00:20:06.270> 2.0 00:20:09.150 --> 00:20:09.160 align:start position:0% 00:20:09.160 --> 00:20:18.150 align:start position:0% [Applause] 00:20:18.150 --> 00:20:18.160 align:start position:0% 00:20:18.160 --> 00:20:20.220 align:start position:0% you