WEBVTT Kind: captions Language: en 00:00:14.559 --> 00:00:19.450 align:start position:0% you'll<00:00:15.559> miss<00:00:15.709> that<00:00:17.080> basically<00:00:18.080> k<00:00:18.560> is<00:00:18.770> is<00:00:19.400> a 00:00:19.450 --> 00:00:19.460 align:start position:0% you'll miss that basically k is is a 00:00:19.460 --> 00:00:21.130 align:start position:0% you'll miss that basically k is is a project<00:00:19.850> for<00:00:20.210> writing<00:00:20.540> down<00:00:20.630> programming 00:00:21.130 --> 00:00:21.140 align:start position:0% project for writing down programming 00:00:21.140 --> 00:00:22.630 align:start position:0% project for writing down programming languages<00:00:21.500> in<00:00:21.620> so<00:00:21.800> it's<00:00:21.920> a<00:00:21.980> language<00:00:22.160> building 00:00:22.630 --> 00:00:22.640 align:start position:0% languages in so it's a language building 00:00:22.640 --> 00:00:25.360 align:start position:0% languages in so it's a language building language<00:00:22.940> is<00:00:23.060> what<00:00:23.180> I<00:00:23.210> tell<00:00:23.420> people<00:00:23.570> and<00:00:24.280> so<00:00:25.280> we 00:00:25.360 --> 00:00:25.370 align:start position:0% language is what I tell people and so we 00:00:25.370 --> 00:00:27.850 align:start position:0% language is what I tell people and so we have<00:00:25.580> built<00:00:25.790> the<00:00:25.940> languages<00:00:26.420> C<00:00:27.050> and<00:00:27.380> Java<00:00:27.620> and 00:00:27.850 --> 00:00:27.860 align:start position:0% have built the languages C and Java and 00:00:27.860 --> 00:00:30.220 align:start position:0% have built the languages C and Java and JavaScript<00:00:28.220> and<00:00:28.700> we're<00:00:29.030> working<00:00:29.150> on<00:00:29.360> C++<00:00:29.960> and 00:00:30.220 --> 00:00:30.230 align:start position:0% JavaScript and we're working on C++ and 00:00:30.230 --> 00:00:31.420 align:start position:0% JavaScript and we're working on C++ and we<00:00:30.290> have<00:00:30.410> Python<00:00:30.650> and<00:00:30.980> we<00:00:31.070> have<00:00:31.190> a<00:00:31.220> lot<00:00:31.400> of 00:00:31.420 --> 00:00:31.430 align:start position:0% we have Python and we have a lot of 00:00:31.430 --> 00:00:33.250 align:start position:0% we have Python and we have a lot of other<00:00:31.640> big<00:00:32.210> languages<00:00:32.689> and<00:00:32.870> also<00:00:32.960> some 00:00:33.250 --> 00:00:33.260 align:start position:0% other big languages and also some 00:00:33.260 --> 00:00:36.190 align:start position:0% other big languages and also some network<00:00:33.530> semantics<00:00:34.100> and<00:00:34.340> stuff<00:00:34.670> like<00:00:34.820> that<00:00:35.200> so 00:00:36.190 --> 00:00:36.200 align:start position:0% network semantics and stuff like that so 00:00:36.200 --> 00:00:38.920 align:start position:0% network semantics and stuff like that so basically<00:00:37.210> once<00:00:38.210> you<00:00:38.420> write<00:00:38.720> down<00:00:38.870> your 00:00:38.920 --> 00:00:38.930 align:start position:0% basically once you write down your 00:00:38.930 --> 00:00:40.810 align:start position:0% basically once you write down your language<00:00:39.290> in<00:00:39.410> K<00:00:39.590> you<00:00:39.650> have<00:00:39.800> both<00:00:40.430> the<00:00:40.579> formal 00:00:40.810 --> 00:00:40.820 align:start position:0% language in K you have both the formal 00:00:40.820 --> 00:00:42.340 align:start position:0% language in K you have both the formal specification<00:00:41.000> in<00:00:41.630> terms<00:00:41.840> of<00:00:42.020> a<00:00:42.079> human 00:00:42.340 --> 00:00:42.350 align:start position:0% specification in terms of a human 00:00:42.350 --> 00:00:46.900 align:start position:0% specification in terms of a human readable<00:00:42.530> document<00:00:43.160> and<00:00:43.370> you<00:00:44.000> have<00:00:44.239> a<00:00:45.910> range 00:00:46.900 --> 00:00:46.910 align:start position:0% readable document and you have a range 00:00:46.910 --> 00:00:48.729 align:start position:0% readable document and you have a range of<00:00:47.210> tools<00:00:47.390> essentially<00:00:48.020> that<00:00:48.140> you<00:00:48.200> can<00:00:48.440> use 00:00:48.729 --> 00:00:48.739 align:start position:0% of tools essentially that you can use 00:00:48.739 --> 00:00:50.800 align:start position:0% of tools essentially that you can use for<00:00:49.130> experimenting<00:00:50.060> on<00:00:50.180> both<00:00:50.390> your<00:00:50.510> language 00:00:50.800 --> 00:00:50.810 align:start position:0% for experimenting on both your language 00:00:50.810 --> 00:00:52.840 align:start position:0% for experimenting on both your language design<00:00:51.140> as<00:00:51.380> well<00:00:51.500> as<00:00:51.560> for<00:00:52.250> running<00:00:52.460> programs 00:00:52.840 --> 00:00:52.850 align:start position:0% design as well as for running programs 00:00:52.850 --> 00:00:54.340 align:start position:0% design as well as for running programs and<00:00:53.059> things<00:00:53.210> like<00:00:53.300> that<00:00:53.360> so<00:00:53.480> you<00:00:53.660> get<00:00:53.809> a<00:00:53.870> parser 00:00:54.340 --> 00:00:54.350 align:start position:0% and things like that so you get a parser 00:00:54.350 --> 00:00:55.840 align:start position:0% and things like that so you get a parser out<00:00:54.470> of<00:00:54.590> it<00:00:54.680> an<00:00:54.770> interpreter<00:00:55.250> you<00:00:55.399> get<00:00:55.520> a<00:00:55.550> model 00:00:55.840 --> 00:00:55.850 align:start position:0% out of it an interpreter you get a model 00:00:55.850 --> 00:00:59.280 align:start position:0% out of it an interpreter you get a model checker<00:00:56.090> a<00:00:56.600> deductive<00:00:57.559> program<00:00:57.890> verifier<00:00:58.370> and 00:00:59.280 --> 00:00:59.290 align:start position:0% checker a deductive program verifier and 00:00:59.290 --> 00:01:02.380 align:start position:0% checker a deductive program verifier and we're<00:01:00.290> working<00:01:00.559> on<00:01:00.649> some<00:01:00.860> some<00:01:01.309> new<00:01:01.390> exciting 00:01:02.380 --> 00:01:02.390 align:start position:0% we're working on some some new exciting 00:01:02.390 --> 00:01:06.010 align:start position:0% we're working on some some new exciting tools<00:01:02.719> as<00:01:02.989> well<00:01:03.170> I<00:01:03.759> see<00:01:04.759> three<00:01:05.059> the<00:01:05.449> EVM 00:01:06.010 --> 00:01:06.020 align:start position:0% tools as well I see three the EVM 00:01:06.020 --> 00:01:08.200 align:start position:0% tools as well I see three the EVM semantics<00:01:06.650> was<00:01:07.370> already<00:01:07.670> finished<00:01:07.970> actually 00:01:08.200 --> 00:01:08.210 align:start position:0% semantics was already finished actually 00:01:08.210 --> 00:01:10.180 align:start position:0% semantics was already finished actually it<00:01:08.540> started<00:01:08.840> as<00:01:08.960> kind<00:01:09.110> of<00:01:09.229> a<00:01:09.290> side<00:01:09.500> project<00:01:09.530> in 00:01:10.180 --> 00:01:10.190 align:start position:0% it started as kind of a side project in 00:01:10.190 --> 00:01:11.980 align:start position:0% it started as kind of a side project in a<00:01:10.250> class<00:01:10.520> and<00:01:10.880> then<00:01:10.970> it<00:01:11.120> someone<00:01:11.690> approached 00:01:11.980 --> 00:01:11.990 align:start position:0% a class and then it someone approached 00:01:11.990 --> 00:01:14.710 align:start position:0% a class and then it someone approached us<00:01:12.200> and<00:01:12.470> asked<00:01:13.430> us<00:01:13.520> to<00:01:13.700> finish<00:01:13.880> it<00:01:14.150> and<00:01:14.330> gave<00:01:14.570> us 00:01:14.710 --> 00:01:14.720 align:start position:0% us and asked us to finish it and gave us 00:01:14.720 --> 00:01:17.109 align:start position:0% us and asked us to finish it and gave us a<00:01:14.990> convincing<00:01:15.979> amount<00:01:16.220> of<00:01:16.310> money<00:01:16.430> to<00:01:16.610> do<00:01:16.729> so 00:01:17.109 --> 00:01:17.119 align:start position:0% a convincing amount of money to do so 00:01:17.119 --> 00:01:23.050 align:start position:0% a convincing amount of money to do so and<00:01:17.470> the<00:01:20.229> ic3<00:01:21.229> basically<00:01:21.920> I<00:01:22.190> just<00:01:22.549> extended 00:01:23.050 --> 00:01:23.060 align:start position:0% and the ic3 basically I just extended 00:01:23.060 --> 00:01:25.780 align:start position:0% and the ic3 basically I just extended that<00:01:23.420> semantics<00:01:24.080> to<00:01:24.920> include<00:01:25.280> some<00:01:25.549> kind<00:01:25.760> of 00:01:25.780 --> 00:01:25.790 align:start position:0% that semantics to include some kind of 00:01:25.790 --> 00:01:27.399 align:start position:0% that semantics to include some kind of higher-level<00:01:25.970> language<00:01:26.510> constructs<00:01:26.900> and<00:01:27.110> EVM 00:01:27.399 --> 00:01:27.409 align:start position:0% higher-level language constructs and EVM 00:01:27.409 --> 00:01:29.950 align:start position:0% higher-level language constructs and EVM so<00:01:27.680> it<00:01:27.740> was<00:01:27.830> just<00:01:28.010> a<00:01:28.100> few<00:01:28.280> days<00:01:28.940> working<00:01:29.840> on 00:01:29.950 --> 00:01:29.960 align:start position:0% so it was just a few days working on 00:01:29.960 --> 00:01:31.420 align:start position:0% so it was just a few days working on that<00:01:30.140> but<00:01:30.290> basically<00:01:30.409> I<00:01:30.710> added<00:01:31.159> things<00:01:31.369> like 00:01:31.420 --> 00:01:31.430 align:start position:0% that but basically I added things like 00:01:31.430 --> 00:01:33.719 align:start position:0% that but basically I added things like while<00:01:31.760> loops<00:01:32.060> and<00:01:32.240> if<00:01:32.420> statements<00:01:33.020> and 00:01:33.719 --> 00:01:33.729 align:start position:0% while loops and if statements and 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EVM<00:01:43.700> itself<00:01:43.970> and<00:01:44.090> I<00:01:44.119> called<00:01:44.299> that<00:01:44.360> language 00:01:44.679 --> 00:01:44.689 align:start position:0% EVM itself and I called that language 00:01:44.689 --> 00:01:47.109 align:start position:0% EVM itself and I called that language EVM<00:01:44.990> crime<00:01:45.229> the<00:01:46.100> compiler<00:01:46.520> is<00:01:46.640> written<00:01:46.670> all<00:01:47.090> in 00:01:47.109 --> 00:01:47.119 align:start position:0% EVM crime the compiler is written all in 00:01:47.119 --> 00:01:50.859 align:start position:0% EVM crime the compiler is written all in K<00:01:47.420> it's<00:01:47.630> about<00:01:48.369> 250<00:01:49.369> lines<00:01:49.850> of<00:01:50.270> literate<00:01:50.720> K 00:01:50.859 --> 00:01:50.869 align:start position:0% K it's about 250 lines of literate K 00:01:50.869 --> 00:01:51.820 align:start position:0% K it's about 250 lines of literate K code<00:01:51.170> so<00:01:51.350> most<00:01:51.530> of<00:01:51.619> it's<00:01:51.740> actually 00:01:51.820 --> 00:01:51.830 align:start position:0% code so most of it's actually 00:01:51.830 --> 00:01:55.690 align:start position:0% code so most of it's actually documentation<00:01:53.290> so<00:01:54.290> it<00:01:54.650> was<00:01:54.860> fairly<00:01:55.280> compact 00:01:55.690 --> 00:01:55.700 align:start position:0% documentation so it was fairly compact 00:01:55.700 --> 00:01:57.429 align:start position:0% documentation so it was fairly compact and<00:01:55.970> that<00:01:56.330> just<00:01:56.570> kind<00:01:56.720> of<00:01:56.780> speaks<00:01:57.020> to<00:01:57.080> how<00:01:57.200> easy 00:01:57.429 --> 00:01:57.439 align:start position:0% and that just kind of speaks to how easy 00:01:57.439 --> 00:02:00.640 align:start position:0% and that just kind of speaks to how easy it<00:01:57.590> is<00:01:57.650> to<00:01:57.799> build<00:01:57.979> new<00:01:58.159> languages<00:01:58.520> in<00:01:58.640> K<00:01:59.650> and 00:02:00.640 --> 00:02:00.650 align:start position:0% it is to build new languages in K and 00:02:00.650 --> 00:02:03.600 align:start position:0% it is to build new languages in K and right<00:02:00.860> now<00:02:01.009> that<00:02:01.579> project<00:02:02.030> is<00:02:02.150> being<00:02:02.329> used<00:02:02.630> to 00:02:03.600 --> 00:02:03.610 align:start position:0% right now that project is being used to 00:02:03.610 --> 00:02:06.039 align:start position:0% right now that project is being used to so<00:02:04.610> we're<00:02:04.729> writing<00:02:04.909> tests<00:02:05.360> for<00:02:05.509> EVM<00:02:05.780> crime 00:02:06.039 --> 00:02:06.049 align:start position:0% so we're writing tests for EVM crime 00:02:06.049 --> 00:02:07.499 align:start position:0% so we're writing tests for EVM crime essentially<00:02:06.560> and<00:02:06.770> then<00:02:06.860> we're<00:02:07.009> also 00:02:07.499 --> 00:02:07.509 align:start position:0% essentially and then we're also 00:02:07.509 --> 00:02:11.050 align:start position:0% essentially and then we're also extending<00:02:08.509> it<00:02:08.629> to<00:02:08.739> kind<00:02:09.739> of<00:02:09.920> our<00:02:10.640> goal<00:02:10.880> is 00:02:11.050 --> 00:02:11.060 align:start position:0% extending it to kind of our goal is 00:02:11.060 --> 00:02:13.420 align:start position:0% extending it to kind of our goal is something<00:02:11.209> like<00:02:11.510> a<00:02:11.540> Viper<00:02:11.780> -<00:02:12.140> -<00:02:12.739> so<00:02:13.130> that<00:02:13.310> we 00:02:13.420 --> 00:02:13.430 align:start position:0% something like a Viper - - so that we 00:02:13.430 --> 00:02:13.809 align:start position:0% something like a Viper - - so that we can 00:02:13.809 --> 00:02:13.819 align:start position:0% can 00:02:13.819 --> 00:02:17.890 align:start position:0% can and<00:02:15.010> very<00:02:16.010> easily<00:02:16.280> compiled<00:02:16.999> VIPRE<00:02:17.269> contracts 00:02:17.890 --> 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VIPRE contracts right you'll<00:02:31.280> get<00:02:31.510> program<00:02:32.510> verifier<00:02:32.930> and<00:02:33.290> a<00:02:33.709> model 00:02:34.030 --> 00:02:34.040 align:start position:0% you'll get program verifier and a model 00:02:34.040 --> 00:02:36.789 align:start position:0% you'll get program verifier and a model checker<00:02:34.250> symbolic<00:02:35.060> execution<00:02:35.150> engine<00:02:35.810> all 00:02:36.789 --> 00:02:36.799 align:start position:0% checker symbolic execution engine all 00:02:36.799 --> 00:02:38.050 align:start position:0% checker symbolic execution engine all those<00:02:37.010> tools<00:02:37.219> immediately<00:02:37.639> provide<00:02:37.879> for 00:02:38.050 --> 00:02:38.060 align:start position:0% those tools immediately provide for 00:02:38.060 --> 00:02:40.629 align:start position:0% those tools immediately provide for contracts<00:02:38.420> as<00:02:38.569> well<00:02:39.129> and<00:02:40.129> then<00:02:40.280> hopefully 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and<00:02:55.250> then<00:02:55.340> that 00:02:55.479 --> 00:02:55.489 align:start position:0% higher level language and then that 00:02:55.489 --> 00:02:57.099 align:start position:0% higher level language and then that would<00:02:55.639> kind<00:02:55.909> of<00:02:56.000> give<00:02:56.180> us<00:02:56.299> the<00:02:56.659> benefits<00:02:57.019> of 00:02:57.099 --> 00:02:57.109 align:start position:0% would kind of give us the benefits of 00:02:57.109 --> 00:02:58.839 align:start position:0% would kind of give us the benefits of having<00:02:57.230> all<00:02:57.469> the<00:02:57.560> lll<00:02:57.949> tool<00:02:58.159> chains<00:02:58.430> available 00:02:58.839 --> 00:02:58.849 align:start position:0% having all the lll tool chains available 00:02:58.849 --> 00:03:01.809 align:start position:0% having all the lll tool chains available to<00:02:58.969> us<00:02:59.500> but<00:03:00.500> you<00:03:01.040> know<00:03:01.099> I<00:03:01.219> mean<00:03:01.370> we're<00:03:01.519> open<00:03:01.730> to 00:03:01.809 --> 00:03:01.819 align:start position:0% to us but you know I mean we're open to 00:03:01.819 --> 00:03:03.189 align:start position:0% to us but you know I mean we're open to suggestions<00:03:02.329> in<00:03:02.449> terms<00:03:02.659> of<00:03:02.750> how<00:03:02.810> people<00:03:02.870> would 00:03:03.189 --> 00:03:03.199 align:start position:0% suggestions in terms of how people would 00:03:03.199 --> 00:03:05.500 align:start position:0% suggestions in terms of how people would like<00:03:03.319> to<00:03:03.349> see<00:03:03.620> that<00:03:03.799> evolve<00:03:04.549> and<00:03:04.849> you<00:03:05.419> know 00:03:05.500 --> 00:03:05.510 align:start position:0% like to see that evolve and you know 00:03:05.510 --> 00:03:07.209 align:start position:0% like to see that evolve and you know we'll<00:03:05.689> keep<00:03:05.810> on<00:03:06.019> working<00:03:06.590> on<00:03:06.709> it<00:03:06.829> and<00:03:06.919> building 00:03:07.209 --> 00:03:07.219 align:start position:0% we'll keep on working on it and building 00:03:07.219 --> 00:03:09.309 align:start position:0% we'll keep on working on it and building more<00:03:07.310> languages<00:03:07.760> on<00:03:07.879> top<00:03:08.060> of<00:03:08.180> EVM<00:03:08.480> directly<00:03:09.109> I 00:03:09.309 --> 00:03:09.319 align:start position:0% more languages on top of EVM directly I 00:03:09.319 --> 00:03:19.449 align:start position:0% more languages on top of EVM directly I think<00:03:10.219> that's<00:03:17.049> cool<00:03:18.049> yeah<00:03:18.259> so<00:03:18.290> my<00:03:18.889> project<00:03:19.340> was 00:03:19.449 --> 00:03:19.459 align:start position:0% think that's cool yeah so my project was 00:03:19.459 --> 00:03:21.249 align:start position:0% think that's cool yeah so my project was writing<00:03:19.819> secure<00:03:20.150> smart<00:03:20.389> contracts<00:03:20.810> and<00:03:21.109> we 00:03:21.249 --> 00:03:21.259 align:start position:0% writing secure smart contracts and we 00:03:21.259 --> 00:03:22.659 align:start position:0% writing secure smart contracts and we had<00:03:21.500> probably<00:03:21.799> the<00:03:21.949> biggest<00:03:22.280> team<00:03:22.430> at<00:03:22.579> the 00:03:22.659 --> 00:03:22.669 align:start position:0% had probably the biggest team at the 00:03:22.669 --> 00:03:23.860 align:start position:0% had probably the biggest team at the bootcamp<00:03:22.909> I<00:03:23.120> think<00:03:23.329> there<00:03:23.419> were<00:03:23.509> like<00:03:23.540> 10 00:03:23.860 --> 00:03:23.870 align:start position:0% bootcamp I think there were like 10 00:03:23.870 --> 00:03:26.259 align:start position:0% bootcamp I think there were like 10 people<00:03:24.079> on<00:03:24.259> it<00:03:24.409> or<00:03:24.530> something<00:03:24.680> like<00:03:24.919> that<00:03:25.269> and 00:03:26.259 --> 00:03:26.269 align:start position:0% people on it or something like that and 00:03:26.269 --> 00:03:27.490 align:start position:0% people on it or something like that and it<00:03:26.509> was<00:03:26.599> sort<00:03:26.780> of<00:03:26.870> meant<00:03:27.019> to<00:03:27.139> be<00:03:27.229> a<00:03:27.259> dual 00:03:27.490 --> 00:03:27.500 align:start position:0% it was sort of meant to be a dual 00:03:27.500 --> 00:03:29.559 align:start position:0% it was sort of meant to be a dual purpose<00:03:27.709> project<00:03:28.280> both<00:03:28.459> educational<00:03:29.269> and 00:03:29.559 --> 00:03:29.569 align:start position:0% purpose project both educational and 00:03:29.569 --> 00:03:31.960 align:start position:0% purpose project both educational and constructive<00:03:30.109> for<00:03:30.259> the<00:03:30.379> community<00:03:30.769> so<00:03:31.549> how 00:03:31.960 --> 00:03:31.970 align:start position:0% constructive for the community so how 00:03:31.970 --> 00:03:33.399 align:start position:0% constructive for the community so how many<00:03:32.030> people<00:03:32.299> here<00:03:32.569> have<00:03:32.599> heard<00:03:32.930> of<00:03:33.079> hack<00:03:33.259> this 00:03:33.399 --> 00:03:33.409 align:start position:0% many people here have heard of hack this 00:03:33.409 --> 00:03:38.170 align:start position:0% many people here have heard of hack this site<00:03:33.709> anybody<00:03:35.109> use<00:03:36.109> tech<00:03:36.439> this<00:03:36.590> site<00:03:37.150> okay<00:03:38.150> a 00:03:38.170 --> 00:03:38.180 align:start position:0% site anybody use tech this site okay a 00:03:38.180 --> 00:03:40.360 align:start position:0% site anybody use tech this site okay a few<00:03:38.359> of<00:03:38.449> you<00:03:38.569> so<00:03:39.409> I<00:03:39.739> think<00:03:39.799> a<00:03:40.009> great<00:03:40.220> way<00:03:40.340> to 00:03:40.360 --> 00:03:40.370 align:start position:0% few of you so I think a great way to 00:03:40.370 --> 00:03:42.520 align:start position:0% few of you so I think a great way to train<00:03:40.819> people<00:03:41.090> train<00:03:41.599> solidity<00:03:41.989> developers 00:03:42.520 --> 00:03:42.530 align:start position:0% train people train solidity developers 00:03:42.530 --> 00:03:44.349 align:start position:0% train people train solidity developers and<00:03:42.799> smart<00:03:43.189> contract<00:03:43.579> developers<00:03:44.030> in<00:03:44.239> the 00:03:44.349 --> 00:03:44.359 align:start position:0% and smart contract developers in the 00:03:44.359 --> 00:03:46.719 align:start position:0% and smart contract developers in the ecosystem<00:03:45.019> on<00:03:45.259> how<00:03:45.799> to<00:03:45.859> write<00:03:46.069> secure<00:03:46.400> smart 00:03:46.719 --> 00:03:46.729 align:start position:0% ecosystem on how to write secure smart 00:03:46.729 --> 00:03:48.550 align:start position:0% ecosystem on how to write secure smart contracts<00:03:47.180> and<00:03:47.449> had<00:03:47.689> a<00:03:47.720> right<00:03:47.930> proper<00:03:48.139> code 00:03:48.550 --> 00:03:48.560 align:start position:0% contracts and had a right proper code 00:03:48.560 --> 00:03:50.710 align:start position:0% contracts and had a right proper code that<00:03:48.739> lasts<00:03:49.040> a<00:03:49.099> long<00:03:49.220> time<00:03:49.280> is<00:03:50.090> by<00:03:50.329> actually 00:03:50.710 --> 00:03:50.720 align:start position:0% that lasts a long time is by actually 00:03:50.720 --> 00:03:52.149 align:start position:0% that lasts a long time is by actually having<00:03:50.840> them<00:03:51.139> getting<00:03:51.530> their<00:03:51.650> hands<00:03:51.889> dirty 00:03:52.149 --> 00:03:52.159 align:start position:0% having them getting their hands dirty 00:03:52.159 --> 00:03:54.759 align:start position:0% having them getting their hands dirty and<00:03:52.489> breaking<00:03:53.239> other<00:03:53.359> smart<00:03:53.659> contracts<00:03:54.109> so 00:03:54.759 --> 00:03:54.769 align:start position:0% and breaking other smart contracts so 00:03:54.769 --> 00:03:56.020 align:start position:0% and breaking other smart contracts so the<00:03:54.889> first<00:03:55.069> thing<00:03:55.220> we<00:03:55.310> sort<00:03:55.489> of<00:03:55.549> did<00:03:55.669> was<00:03:55.909> we 00:03:56.020 --> 00:03:56.030 align:start position:0% the first thing we sort of did was we 00:03:56.030 --> 00:03:57.640 align:start position:0% the first thing we sort of did was we got<00:03:56.180> all<00:03:56.329> of<00:03:56.419> our<00:03:56.509> ten<00:03:56.719> people<00:03:57.019> together<00:03:57.349> in<00:03:57.590> a 00:03:57.640 --> 00:03:57.650 align:start position:0% got all of our ten people together in a 00:03:57.650 --> 00:03:59.289 align:start position:0% got all of our ten people together in a room<00:03:57.680> and<00:03:57.979> we<00:03:58.069> had<00:03:58.189> them<00:03:58.370> write<00:03:58.400> in<00:03:58.639> the<00:03:58.699> ERC<00:03:58.939> 20 00:03:59.289 --> 00:03:59.299 align:start position:0% room and we had them write in the ERC 20 00:03:59.299 --> 00:04:01.089 align:start position:0% room and we had them write in the ERC 20 with<00:03:59.540> no<00:03:59.989> other<00:04:00.199> instructions<00:04:00.799> other<00:04:00.919> than 00:04:01.089 --> 00:04:01.099 align:start position:0% with no other instructions other than 00:04:01.099 --> 00:04:02.409 align:start position:0% with no other instructions other than that<00:04:01.250> just<00:04:01.489> sit<00:04:01.639> down<00:04:01.669> and<00:04:01.969> write<00:04:02.090> in<00:04:02.209> the<00:04:02.239> IRC 00:04:02.409 --> 00:04:02.419 align:start position:0% that just sit down and write in the IRC 00:04:02.419 --> 00:04:05.140 align:start position:0% that just sit down and write in the IRC 20<00:04:02.810> and<00:04:03.769> then<00:04:03.949> sort<00:04:04.219> of<00:04:04.310> me<00:04:04.579> and<00:04:04.819> a<00:04:04.909> few<00:04:05.000> other 00:04:05.140 --> 00:04:05.150 align:start position:0% 20 and then sort of me and a few other 00:04:05.150 --> 00:04:06.879 align:start position:0% 20 and then sort of me and a few other people<00:04:05.329> went<00:04:05.629> through<00:04:05.780> and<00:04:05.959> audited<00:04:06.229> their<00:04:06.469> C 00:04:06.879 --> 00:04:06.889 align:start position:0% people went through and audited their C 00:04:06.889 --> 00:04:08.409 align:start position:0% people went through and audited their C 20s<00:04:07.219> and<00:04:07.370> pointed<00:04:07.639> out<00:04:07.699> to<00:04:07.849> them<00:04:07.939> all<00:04:08.180> of<00:04:08.299> the 00:04:08.409 --> 00:04:08.419 align:start position:0% 20s and pointed out to them all of the 00:04:08.419 --> 00:04:09.610 align:start position:0% 20s and pointed out to them all of the ways<00:04:08.540> in<00:04:08.719> which<00:04:08.780> we<00:04:08.930> could<00:04:09.049> possibly<00:04:09.229> break 00:04:09.610 --> 00:04:09.620 align:start position:0% ways in which we could possibly break 00:04:09.620 --> 00:04:12.640 align:start position:0% ways in which we could possibly break them<00:04:10.269> after<00:04:11.269> that<00:04:11.389> we<00:04:11.780> had<00:04:12.019> them<00:04:12.199> fix<00:04:12.500> their 00:04:12.640 --> 00:04:12.650 align:start position:0% them after that we had them fix their 00:04:12.650 --> 00:04:14.589 align:start position:0% them after that we had them fix their ERC<00:04:13.039> 20s<00:04:13.459> and<00:04:13.759> go<00:04:13.849> through<00:04:14.060> the<00:04:14.150> REO<00:04:14.299> dating 00:04:14.589 --> 00:04:14.599 align:start position:0% ERC 20s and go through the REO dating 00:04:14.599 --> 00:04:16.330 align:start position:0% ERC 20s and go through the REO dating process<00:04:14.840> until<00:04:15.379> they<00:04:15.500> had<00:04:15.650> correct<00:04:15.949> D'Arcy 00:04:16.330 --> 00:04:16.340 align:start position:0% process until they had correct D'Arcy 00:04:16.340 --> 00:04:18.729 align:start position:0% process until they had correct D'Arcy 20s<00:04:16.729> and<00:04:17.659> then<00:04:17.810> sort<00:04:18.049> of<00:04:18.109> the<00:04:18.169> second<00:04:18.500> half<00:04:18.620> of 00:04:18.729 --> 00:04:18.739 align:start position:0% 20s and then sort of the second half of 00:04:18.739 --> 00:04:19.990 align:start position:0% 20s and then sort of the second half of the<00:04:18.829> project<00:04:19.009> was<00:04:19.400> to<00:04:19.430> build<00:04:19.729> out<00:04:19.849> this 00:04:19.990 --> 00:04:20.000 align:start position:0% the project was to build out this 00:04:20.000 --> 00:04:22.209 align:start position:0% the project was to build out this platform<00:04:20.269> hack<00:04:20.930> this<00:04:21.109> contract<00:04:21.620> so<00:04:21.889> you<00:04:21.919> can 00:04:22.209 --> 00:04:22.219 align:start position:0% platform hack this contract so you can 00:04:22.219 --> 00:04:25.170 align:start position:0% platform hack this contract so you can access<00:04:22.760> it<00:04:22.909> at<00:04:23.000> hack<00:04:23.150> this<00:04:23.300> contract<00:04:23.779> I 00:04:25.170 --> 00:04:25.180 align:start position:0% access it at hack this contract I 00:04:25.180 --> 00:04:26.580 align:start position:0% access it at hack this contract I and<00:04:25.360> the<00:04:25.509> way<00:04:25.600> it<00:04:25.690> works<00:04:25.870> is<00:04:26.050> there's<00:04:26.229> five<00:04:26.440> or 00:04:26.580 --> 00:04:26.590 align:start position:0% and the way it works is there's five or 00:04:26.590 --> 00:04:28.439 align:start position:0% and the way it works is there's five or six<00:04:26.620> example<00:04:27.520> contracts<00:04:27.940> on<00:04:28.090> there<00:04:28.240> that<00:04:28.360> are 00:04:28.439 --> 00:04:28.449 align:start position:0% six example contracts on there that are 00:04:28.449 --> 00:04:30.749 align:start position:0% six example contracts on there that are intentionally<00:04:28.930> vulnerable<00:04:29.380> you<00:04:30.250> deploy<00:04:30.550> them 00:04:30.749 --> 00:04:30.759 align:start position:0% intentionally vulnerable you deploy them 00:04:30.759 --> 00:04:32.129 align:start position:0% intentionally vulnerable you deploy them on<00:04:30.880> the<00:04:31.000> rinkeby<00:04:31.240> Testament<00:04:31.750> all<00:04:31.870> you<00:04:31.960> have<00:04:32.050> to 00:04:32.129 --> 00:04:32.139 align:start position:0% on the rinkeby Testament all you have to 00:04:32.139 --> 00:04:33.450 align:start position:0% on the rinkeby Testament all you have to do<00:04:32.259> is<00:04:32.380> give<00:04:32.560> it<00:04:32.650> your<00:04:32.740> link<00:04:32.919> of<00:04:33.009> the<00:04:33.100> address 00:04:33.450 --> 00:04:33.460 align:start position:0% do is give it your link of the address 00:04:33.460 --> 00:04:35.790 align:start position:0% do is give it your link of the address and<00:04:33.699> then<00:04:34.270> have<00:04:34.930> at<00:04:35.080> it<00:04:35.229> try<00:04:35.380> to<00:04:35.440> hack<00:04:35.650> the 00:04:35.790 --> 00:04:35.800 align:start position:0% and then have at it try to hack the 00:04:35.800 --> 00:04:37.409 align:start position:0% and then have at it try to hack the contracts<00:04:36.220> and<00:04:36.370> see<00:04:36.580> if<00:04:36.669> you<00:04:36.789> can<00:04:36.970> actually 00:04:37.409 --> 00:04:37.419 align:start position:0% contracts and see if you can actually 00:04:37.419 --> 00:04:40.830 align:start position:0% contracts and see if you can actually break<00:04:37.660> these<00:04:38.500> things<00:04:38.880> so<00:04:39.880> future<00:04:40.690> work 00:04:40.830 --> 00:04:40.840 align:start position:0% break these things so future work 00:04:40.840 --> 00:04:42.749 align:start position:0% break these things so future work directions<00:04:41.289> there's<00:04:41.979> a<00:04:42.070> few<00:04:42.430> features 00:04:42.749 --> 00:04:42.759 align:start position:0% directions there's a few features 00:04:42.759 --> 00:04:43.920 align:start position:0% directions there's a few features missing<00:04:43.120> from<00:04:43.270> the<00:04:43.389> site<00:04:43.570> which<00:04:43.750> you'll<00:04:43.900> see 00:04:43.920 --> 00:04:43.930 align:start position:0% missing from the site which you'll see 00:04:43.930 --> 00:04:45.450 align:start position:0% missing from the site which you'll see if<00:04:44.139> you<00:04:44.229> try<00:04:44.410> to<00:04:44.470> use<00:04:44.650> it<00:04:44.800> I<00:04:44.919> still<00:04:45.160> think<00:04:45.340> it's 00:04:45.450 --> 00:04:45.460 align:start position:0% if you try to use it I still think it's 00:04:45.460 --> 00:04:48.150 align:start position:0% if you try to use it I still think it's totally<00:04:45.759> usable<00:04:45.910> and<00:04:46.300> fun<00:04:46.750> today<00:04:46.960> so<00:04:47.889> adding 00:04:48.150 --> 00:04:48.160 align:start position:0% totally usable and fun today so adding 00:04:48.160 --> 00:04:49.620 align:start position:0% totally usable and fun today so adding those<00:04:48.280> in<00:04:48.460> is<00:04:48.580> obviously<00:04:48.880> sort<00:04:49.120> of<00:04:49.240> priority 00:04:49.620 --> 00:04:49.630 align:start position:0% those in is obviously sort of priority 00:04:49.630 --> 00:04:52.230 align:start position:0% those in is obviously sort of priority zero<00:04:50.009> after<00:04:51.009> that<00:04:51.160> I'd<00:04:51.340> like<00:04:51.520> to<00:04:51.669> add<00:04:51.789> in<00:04:52.000> all 00:04:52.230 --> 00:04:52.240 align:start position:0% zero after that I'd like to add in all 00:04:52.240 --> 00:04:54.060 align:start position:0% zero after that I'd like to add in all of<00:04:52.270> the<00:04:52.570> wonderful<00:04:52.870> submissions<00:04:53.710> we<00:04:53.830> had<00:04:53.979> to 00:04:54.060 --> 00:04:54.070 align:start position:0% of the wonderful submissions we had to 00:04:54.070 --> 00:04:56.070 align:start position:0% of the wonderful submissions we had to be<00:04:54.160> underhanded<00:04:54.639> solidity<00:04:54.940> contract<00:04:55.449> contest 00:04:56.070 --> 00:04:56.080 align:start position:0% be underhanded solidity contract contest 00:04:56.080 --> 00:04:57.330 align:start position:0% be underhanded solidity contract contest which<00:04:56.380> you<00:04:56.500> guys<00:04:56.590> heard<00:04:56.830> about<00:04:56.979> earlier<00:04:57.039> today 00:04:57.330 --> 00:04:57.340 align:start position:0% which you guys heard about earlier today 00:04:57.340 --> 00:04:59.969 align:start position:0% which you guys heard about earlier today in<00:04:57.610> the<00:04:57.669> main<00:04:57.850> room<00:04:58.030> as<00:04:58.900> well<00:04:59.169> as<00:04:59.350> examples<00:04:59.889> of 00:04:59.969 --> 00:04:59.979 align:start position:0% in the main room as well as examples of 00:04:59.979 --> 00:05:02.189 align:start position:0% in the main room as well as examples of all<00:05:00.190> the<00:05:00.370> past<00:05:00.610> tax<00:05:00.910> so<00:05:01.360> I<00:05:01.389> would<00:05:01.690> like<00:05:01.840> new 00:05:02.189 --> 00:05:02.199 align:start position:0% all the past tax so I would like new 00:05:02.199 --> 00:05:03.870 align:start position:0% all the past tax so I would like new solidity<00:05:02.620> developers<00:05:03.100> to<00:05:03.250> sort<00:05:03.430> of<00:05:03.460> come<00:05:03.699> in 00:05:03.870 --> 00:05:03.880 align:start position:0% solidity developers to sort of come in 00:05:03.880 --> 00:05:05.670 align:start position:0% solidity developers to sort of come in and<00:05:04.090> be<00:05:04.240> able<00:05:04.300> to<00:05:04.600> reproduce<00:05:05.020> the<00:05:05.320> DAO<00:05:05.440> hack 00:05:05.670 --> 00:05:05.680 align:start position:0% and be able to reproduce the DAO hack 00:05:05.680 --> 00:05:07.560 align:start position:0% and be able to reproduce the DAO hack themselves<00:05:06.280> and<00:05:06.490> write<00:05:07.090> that<00:05:07.270> attack 00:05:07.560 --> 00:05:07.570 align:start position:0% themselves and write that attack 00:05:07.570 --> 00:05:10.020 align:start position:0% themselves and write that attack contract<00:05:08.050> and<00:05:08.860> I<00:05:08.949> think<00:05:09.160> that<00:05:09.400> by<00:05:09.520> doing<00:05:09.729> so 00:05:10.020 --> 00:05:10.030 align:start position:0% contract and I think that by doing so 00:05:10.030 --> 00:05:11.580 align:start position:0% contract and I think that by doing so we're<00:05:10.330> sort<00:05:10.510> of<00:05:10.600> educating<00:05:11.169> people<00:05:11.199> on<00:05:11.530> how 00:05:11.580 --> 00:05:11.590 align:start position:0% we're sort of educating people on how 00:05:11.590 --> 00:05:13.110 align:start position:0% we're sort of educating people on how you<00:05:11.830> can<00:05:12.130> write<00:05:12.430> smart<00:05:12.729> contracts 00:05:13.110 --> 00:05:13.120 align:start position:0% you can write smart contracts 00:05:13.120 --> 00:05:13.770 align:start position:0% you can write smart contracts incorrectly 00:05:13.770 --> 00:05:13.780 align:start position:0% incorrectly 00:05:13.780 --> 00:05:15.930 align:start position:0% incorrectly and<00:05:14.740> indirectly<00:05:15.280> getting<00:05:15.580> them<00:05:15.669> to<00:05:15.820> write 00:05:15.930 --> 00:05:15.940 align:start position:0% and indirectly getting them to write 00:05:15.940 --> 00:05:18.240 align:start position:0% and indirectly getting them to write smart<00:05:16.180> contracts<00:05:16.599> more<00:05:16.780> correctly<00:05:17.110> so<00:05:17.889> I 00:05:18.240 --> 00:05:18.250 align:start position:0% smart contracts more correctly so I 00:05:18.250 --> 00:05:19.770 align:start position:0% smart contracts more correctly so I think<00:05:18.550> it's<00:05:18.760> a<00:05:18.820> super-fun<00:05:19.240> approach<00:05:19.510> and<00:05:19.750> I 00:05:19.770 --> 00:05:19.780 align:start position:0% think it's a super-fun approach and I 00:05:19.780 --> 00:05:21.600 align:start position:0% think it's a super-fun approach and I think<00:05:19.990> you'll<00:05:20.080> feel<00:05:20.229> good<00:05:20.410> if<00:05:20.590> you<00:05:20.740> log<00:05:21.280> on<00:05:21.460> and 00:05:21.600 --> 00:05:21.610 align:start position:0% think you'll feel good if you log on and 00:05:21.610 --> 00:05:25.409 align:start position:0% think you'll feel good if you log on and try<00:05:21.760> to<00:05:21.820> break<00:05:22.030> a<00:05:22.060> few<00:05:22.240> of<00:05:22.330> these<00:05:22.419> things<00:05:24.419> cool 00:05:25.409 --> 00:05:25.419 align:start position:0% try to break a few of these things cool 00:05:25.419 --> 00:05:28.320 align:start position:0% try to break a few of these things cool hey<00:05:25.630> I'm<00:05:26.410> Nate<00:05:26.740> deploy<00:05:27.550> on<00:05:27.820> a<00:05:27.910> project<00:05:28.210> called 00:05:28.320 --> 00:05:28.330 align:start position:0% hey I'm Nate deploy on a project called 00:05:28.330 --> 00:05:30.779 align:start position:0% hey I'm Nate deploy on a project called peace<00:05:28.599> relay<00:05:28.949> so<00:05:29.949> first<00:05:30.370> of<00:05:30.430> all<00:05:30.460> to<00:05:30.550> start<00:05:30.699> off 00:05:30.779 --> 00:05:30.789 align:start position:0% peace relay so first of all to start off 00:05:30.789 --> 00:05:33.900 align:start position:0% peace relay so first of all to start off who<00:05:30.970> here<00:05:31.180> is<00:05:31.270> sort<00:05:31.419> of<00:05:31.510> PTC<00:05:32.050> relay<00:05:32.789> all<00:05:33.789> right 00:05:33.900 --> 00:05:33.910 align:start position:0% who here is sort of PTC relay all right 00:05:33.910 --> 00:05:35.939 align:start position:0% who here is sort of PTC relay all right a<00:05:33.940> couple<00:05:34.060> people<00:05:34.330> the<00:05:34.990> general<00:05:35.289> idea<00:05:35.500> is<00:05:35.560> that 00:05:35.939 --> 00:05:35.949 align:start position:0% a couple people the general idea is that 00:05:35.949 --> 00:05:37.770 align:start position:0% a couple people the general idea is that there's<00:05:36.280> a<00:05:36.340> smart<00:05:36.580> contract<00:05:37.030> on<00:05:37.210> the<00:05:37.330> etherium 00:05:37.770 --> 00:05:37.780 align:start position:0% there's a smart contract on the etherium 00:05:37.780 --> 00:05:39.779 align:start position:0% there's a smart contract on the etherium chain<00:05:38.020> that<00:05:38.560> imports<00:05:39.130> block<00:05:39.370> headers<00:05:39.699> from 00:05:39.779 --> 00:05:39.789 align:start position:0% chain that imports block headers from 00:05:39.789 --> 00:05:41.909 align:start position:0% chain that imports block headers from Bitcoin<00:05:40.080> and<00:05:41.080> once<00:05:41.260> you<00:05:41.349> have<00:05:41.470> bought<00:05:41.620> block 00:05:41.909 --> 00:05:41.919 align:start position:0% Bitcoin and once you have bought block 00:05:41.919 --> 00:05:43.379 align:start position:0% Bitcoin and once you have bought block headers<00:05:42.130> a<00:05:42.190> Bitcoin<00:05:42.580> in<00:05:42.760> a<00:05:42.820> smart<00:05:43.030> contract 00:05:43.379 --> 00:05:43.389 align:start position:0% headers a Bitcoin in a smart contract 00:05:43.389 --> 00:05:44.730 align:start position:0% headers a Bitcoin in a smart contract what<00:05:43.599> you<00:05:43.690> can<00:05:43.840> do<00:05:44.020> is<00:05:44.229> you<00:05:44.349> can<00:05:44.470> provide 00:05:44.730 --> 00:05:44.740 align:start position:0% what you can do is you can provide 00:05:44.740 --> 00:05:47.310 align:start position:0% what you can do is you can provide proofs<00:05:45.190> of<00:05:45.490> transaction<00:05:46.419> inclusion<00:05:46.900> in<00:05:47.110> those 00:05:47.310 --> 00:05:47.320 align:start position:0% proofs of transaction inclusion in those 00:05:47.320 --> 00:05:49.320 align:start position:0% proofs of transaction inclusion in those blocks<00:05:47.620> to<00:05:48.280> the<00:05:48.490> etherion<00:05:48.820> blockchain 00:05:49.320 --> 00:05:49.330 align:start position:0% blocks to the etherion blockchain 00:05:49.330 --> 00:05:50.760 align:start position:0% blocks to the etherion blockchain so<00:05:49.750> an<00:05:49.870> interesting<00:05:50.080> use<00:05:50.349> case<00:05:50.560> might<00:05:50.740> be 00:05:50.760 --> 00:05:50.770 align:start position:0% so an interesting use case might be 00:05:50.770 --> 00:05:52.589 align:start position:0% so an interesting use case might be something<00:05:51.130> along<00:05:51.250> the<00:05:51.370> lines<00:05:51.520> of<00:05:51.699> oh<00:05:51.909> you<00:05:52.240> know 00:05:52.589 --> 00:05:52.599 align:start position:0% something along the lines of oh you know 00:05:52.599 --> 00:05:54.360 align:start position:0% something along the lines of oh you know pay<00:05:52.960> me<00:05:53.080> money<00:05:53.229> to<00:05:53.380> my<00:05:53.470> Bitcoin<00:05:53.800> address<00:05:54.130> and 00:05:54.360 --> 00:05:54.370 align:start position:0% pay me money to my Bitcoin address and 00:05:54.370 --> 00:05:55.469 align:start position:0% pay me money to my Bitcoin address and if<00:05:54.430> you<00:05:54.520> do<00:05:54.639> I'll<00:05:54.760> give<00:05:54.789> you<00:05:54.970> ether<00:05:55.150> in<00:05:55.389> a 00:05:55.469 --> 00:05:55.479 align:start position:0% if you do I'll give you ether in a 00:05:55.479 --> 00:05:57.089 align:start position:0% if you do I'll give you ether in a trustless<00:05:55.780> manner<00:05:56.020> and<00:05:56.710> so<00:05:56.770> this<00:05:56.889> is<00:05:56.979> pretty 00:05:57.089 --> 00:05:57.099 align:start position:0% trustless manner and so this is pretty 00:05:57.099 --> 00:05:58.649 align:start position:0% trustless manner and so this is pretty much<00:05:57.190> what<00:05:57.400> we<00:05:57.430> can<00:05:57.610> do<00:05:57.760> with<00:05:58.210> this<00:05:58.330> idea<00:05:58.599> of 00:05:58.649 --> 00:05:58.659 align:start position:0% much what we can do with this idea of 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trying to<00:06:04.180> be<00:06:04.300> that<00:06:04.419> for<00:06:04.630> any<00:06:04.870> two<00:06:04.960> EVM<00:06:05.560> base<00:06:05.770> chains 00:06:06.439 --> 00:06:06.449 align:start position:0% to be that for any two EVM base chains 00:06:06.449 --> 00:06:08.520 align:start position:0% to be that for any two EVM base chains essentially<00:06:07.449> relay<00:06:07.720> contracts<00:06:08.139> between<00:06:08.409> two 00:06:08.520 --> 00:06:08.530 align:start position:0% essentially relay contracts between two 00:06:08.530 --> 00:06:10.920 align:start position:0% essentially relay contracts between two EVM<00:06:08.860> base<00:06:08.979> chains<00:06:09.599> over<00:06:10.599> the<00:06:10.630> course<00:06:10.870> of 00:06:10.920 --> 00:06:10.930 align:start position:0% EVM base chains over the course of 00:06:10.930 --> 00:06:13.500 align:start position:0% EVM base chains over the course of bootcamp<00:06:11.320> we<00:06:11.889> built<00:06:12.070> out<00:06:12.220> one<00:06:12.340> of<00:06:12.370> these<00:06:12.550> and 00:06:13.500 --> 00:06:13.510 align:start position:0% bootcamp we built out one of these and 00:06:13.510 --> 00:06:16.080 align:start position:0% bootcamp we built out one of these and we<00:06:14.289> were<00:06:14.470> actually<00:06:14.800> the<00:06:14.949> you<00:06:15.220> know<00:06:15.340> pretty<00:06:15.970> big 00:06:16.080 --> 00:06:16.090 align:start position:0% we were actually the you know pretty big 00:06:16.090 --> 00:06:17.730 align:start position:0% we were actually the you know pretty big stuff<00:06:16.240> here<00:06:16.449> the<00:06:16.599> first<00:06:16.780> ever<00:06:16.960> people<00:06:17.169> to<00:06:17.470> move 00:06:17.730 --> 00:06:17.740 align:start position:0% stuff here the first ever people to move 00:06:17.740 --> 00:06:19.710 align:start position:0% stuff here the first ever people to move Rob's<00:06:18.070> tanea<00:06:18.460> onto<00:06:18.849> rinkeby<00:06:19.210> right<00:06:19.539> I<00:06:19.659> know 00:06:19.710 --> 00:06:19.720 align:start position:0% Rob's tanea onto rinkeby right I know 00:06:19.720 --> 00:06:23.520 align:start position:0% Rob's tanea onto rinkeby right I know huge<00:06:21.000> and<00:06:22.000> the<00:06:22.120> idea<00:06:22.360> is<00:06:22.599> that<00:06:22.750> you<00:06:23.050> lock<00:06:23.349> an 00:06:23.520 --> 00:06:23.530 align:start position:0% huge and the idea is that you lock an 00:06:23.530 --> 00:06:25.350 align:start position:0% huge and the idea is that you lock an asset<00:06:23.860> on<00:06:23.979> one<00:06:24.159> chain<00:06:24.400> you<00:06:24.820> can<00:06:24.970> then<00:06:25.090> provide 00:06:25.350 --> 00:06:25.360 align:start position:0% asset on one chain you can then provide 00:06:25.360 --> 00:06:26.879 align:start position:0% asset on one chain you can then provide a<00:06:25.389> proof<00:06:25.659> to<00:06:25.930> the<00:06:26.020> other<00:06:26.139> chain<00:06:26.409> using<00:06:26.800> this 00:06:26.879 --> 00:06:26.889 align:start position:0% a proof to the other chain using this 00:06:26.889 --> 00:06:28.589 align:start position:0% a proof to the other chain using this piece<00:06:27.099> real<00:06:27.250> a<00:06:27.370> contract<00:06:27.789> that<00:06:28.150> that<00:06:28.330> asset 00:06:28.589 --> 00:06:28.599 align:start position:0% piece real a contract that that asset 00:06:28.599 --> 00:06:30.120 align:start position:0% piece real a contract that that asset was<00:06:28.630> locked<00:06:28.930> and<00:06:29.199> what<00:06:29.590> it<00:06:29.680> does<00:06:29.800> is<00:06:30.010> it 00:06:30.120 --> 00:06:30.130 align:start position:0% was locked and what it does is it 00:06:30.130 --> 00:06:31.650 align:start position:0% was locked and what it does is it instantiates<00:06:30.669> like<00:06:30.849> you<00:06:31.150> know 00:06:31.650 --> 00:06:31.660 align:start position:0% instantiates like you know 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second chain however<00:06:37.330> much<00:06:37.450> you<00:06:37.570> want<00:06:37.750> and<00:06:38.170> when<00:06:38.290> you<00:06:38.320> want 00:06:38.400 --> 00:06:38.410 align:start position:0% however much you want and when you want 00:06:38.410 --> 00:06:39.930 align:start position:0% however much you want and when you want to<00:06:38.590> eventually<00:06:38.860> move<00:06:39.160> back<00:06:39.400> you<00:06:39.580> can<00:06:39.730> burn<00:06:39.880> it 00:06:39.930 --> 00:06:39.940 align:start position:0% to eventually move back you can burn it 00:06:39.940 --> 00:06:41.250 align:start position:0% to eventually move back you can burn it on<00:06:40.150> this<00:06:40.300> chain<00:06:40.510> and<00:06:40.660> then<00:06:40.810> provide<00:06:41.020> a<00:06:41.050> proof 00:06:41.250 --> 00:06:41.260 align:start position:0% on this chain and then provide a proof 00:06:41.260 --> 00:06:43.070 align:start position:0% on this chain and then provide a proof over<00:06:41.440> here<00:06:41.740> that<00:06:42.100> you've<00:06:42.220> actually<00:06:42.370> burned<00:06:42.730> it 00:06:43.070 --> 00:06:43.080 align:start position:0% over here that you've actually burned it 00:06:43.080 --> 00:06:45.480 align:start position:0% over here that you've actually burned it you<00:06:44.080> know<00:06:44.140> other<00:06:44.440> than<00:06:44.650> that<00:06:44.740> to<00:06:45.040> cover<00:06:45.220> a 00:06:45.480 --> 00:06:45.490 align:start position:0% you know other than that to cover a 00:06:45.490 --> 00:06:49.590 align:start position:0% you know other than that to cover a couple<00:06:45.610> other<00:06:46.000> interesting<00:06:46.450> applications<00:06:48.600> so 00:06:49.590 --> 00:06:49.600 align:start position:0% couple other interesting applications so 00:06:49.600 --> 00:06:51.510 align:start position:0% couple other interesting applications so I<00:06:49.630> mean<00:06:49.960> the<00:06:50.110> immediate<00:06:50.350> application<00:06:50.920> is<00:06:51.310> that 00:06:51.510 --> 00:06:51.520 align:start position:0% I mean the immediate application is that 00:06:51.520 --> 00:06:53.610 align:start position:0% I mean the immediate application is that you<00:06:51.700> know<00:06:51.790> you<00:06:51.940> can<00:06:52.090> move<00:06:52.270> like<00:06:52.750> et<00:06:53.080> C<00:06:53.230> or<00:06:53.440> any 00:06:53.610 --> 00:06:53.620 align:start position:0% you know you can move like et C or any 00:06:53.620 --> 00:06:56.760 align:start position:0% you know you can move like et C or any other<00:06:53.860> EPM<00:06:54.310> you<00:06:55.000> know<00:06:55.120> back<00:06:55.990> coin<00:06:56.380> straight 00:06:56.760 --> 00:06:56.770 align:start position:0% other EPM you know back coin straight 00:06:56.770 --> 00:06:59.880 align:start position:0% other EPM you know back coin straight like<00:06:57.190> neo<00:06:57.430> or<00:06:57.550> so<00:06:58.030> like<00:06:58.210> Gollum<00:06:58.510> I'm<00:06:59.080> sorry<00:06:59.470> neo 00:06:59.880 --> 00:06:59.890 align:start position:0% like neo or so like Gollum I'm sorry neo 00:06:59.890 --> 00:07:02.610 align:start position:0% like neo or so like Gollum I'm sorry neo and<00:07:00.220> killed<00:07:00.670> him<00:07:00.850> to<00:07:01.210> interim<00:07:01.960> and<00:07:02.230> so<00:07:02.440> that 00:07:02.610 --> 00:07:02.620 align:start position:0% and killed him to interim and so that 00:07:02.620 --> 00:07:04.140 align:start position:0% and killed him to interim and so that you<00:07:02.740> know<00:07:02.830> all<00:07:02.980> the<00:07:03.070> B<00:07:03.190> central<00:07:03.490> I<00:07:03.550> can<00:07:03.760> this<00:07:03.910> on 00:07:04.140 --> 00:07:04.150 align:start position:0% you know all the B central I can this on 00:07:04.150 --> 00:07:06.060 align:start position:0% you know all the B central I can this on a<00:07:04.600> thorium<00:07:04.810> country<00:07:05.290> you<00:07:05.500> know<00:07:05.590> between<00:07:05.800> two 00:07:06.060 --> 00:07:06.070 align:start position:0% a thorium country you know between two 00:07:06.070 --> 00:07:08.880 align:start position:0% a thorium country you know between two constants<00:07:06.550> in<00:07:06.700> this<00:07:06.880> coin<00:07:07.380> so<00:07:08.380> another 00:07:08.880 --> 00:07:08.890 align:start position:0% constants in this coin so another 00:07:08.890 --> 00:07:10.620 align:start position:0% constants in this coin so another application<00:07:09.250> is<00:07:09.550> that<00:07:09.580> you<00:07:09.940> know<00:07:10.030> now<00:07:10.240> you<00:07:10.300> can 00:07:10.620 --> 00:07:10.630 align:start position:0% application is that you know now you can 00:07:10.630 --> 00:07:13.290 align:start position:0% application is that you know now you can actually<00:07:11.040> you<00:07:12.040> know<00:07:12.070> move<00:07:12.460> private<00:07:13.030> coins 00:07:13.290 --> 00:07:13.300 align:start position:0% actually you know move private coins 00:07:13.300 --> 00:07:15.420 align:start position:0% actually you know move private coins right<00:07:13.630> in<00:07:13.870> in<00:07:14.020> some<00:07:14.200> private<00:07:14.380> chain<00:07:14.680> because 00:07:15.420 --> 00:07:15.430 align:start position:0% right in in some private chain because 00:07:15.430 --> 00:07:18.180 align:start position:0% right in in some private chain because of<00:07:15.460> the<00:07:15.930> you<00:07:16.930> know<00:07:16.960> interim<00:07:17.770> Enterprise 00:07:18.180 --> 00:07:18.190 align:start position:0% of the you know interim Enterprise 00:07:18.190 --> 00:07:20.100 align:start position:0% of the you know interim Enterprise Alliance<00:07:18.670> so<00:07:18.940> many<00:07:19.300> people<00:07:19.600> are<00:07:19.690> like<00:07:19.810> during 00:07:20.100 --> 00:07:20.110 align:start position:0% Alliance so many people are like during 00:07:20.110 --> 00:07:22.230 align:start position:0% Alliance so many people are like during private<00:07:20.290> blockchain<00:07:20.800> with<00:07:21.010> their<00:07:21.160> own<00:07:21.250> right 00:07:22.230 --> 00:07:22.240 align:start position:0% private blockchain with their own right 00:07:22.240 --> 00:07:24.690 align:start position:0% private blockchain with their own right so<00:07:22.720> you<00:07:22.840> can<00:07:23.020> actually<00:07:23.320> remove<00:07:23.650> the<00:07:24.010> asset<00:07:24.490> in 00:07:24.690 --> 00:07:24.700 align:start position:0% so you can actually remove the asset in 00:07:24.700 --> 00:07:27.780 align:start position:0% so you can actually remove the asset in the<00:07:25.540> private<00:07:26.020> sale<00:07:26.200> to<00:07:26.650> the<00:07:26.680> public<00:07:26.800> chain<00:07:27.580> and 00:07:27.780 --> 00:07:27.790 align:start position:0% the private sale to the public chain and 00:07:27.790 --> 00:07:30.450 align:start position:0% the private sale to the public chain and you<00:07:28.390> know<00:07:28.480> trade<00:07:28.750> between<00:07:28.930> this<00:07:29.560> coin<00:07:29.800> and 00:07:30.450 --> 00:07:30.460 align:start position:0% you know trade between this coin and 00:07:30.460 --> 00:07:39.200 align:start position:0% you know trade between this coin and other<00:07:30.670> yes<00:07:31.270> each<00:07:31.450> what<00:07:31.600> it<00:07:31.690> opens 00:07:39.200 --> 00:07:39.210 align:start position:0% 00:07:39.210 --> 00:07:41.250 align:start position:0% the<00:07:40.210> other<00:07:40.330> interesting<00:07:40.690> thing<00:07:40.960> that<00:07:41.110> you 00:07:41.250 --> 00:07:41.260 align:start position:0% the other interesting thing that you 00:07:41.260 --> 00:07:42.450 align:start position:0% the other interesting thing that you could<00:07:41.440> possibly<00:07:41.470> do<00:07:41.950> is<00:07:42.130> you<00:07:42.190> could<00:07:42.310> imagine 00:07:42.450 --> 00:07:42.460 align:start position:0% could possibly do is you could imagine 00:07:42.460 --> 00:07:44.220 align:start position:0% could possibly do is you could imagine kind<00:07:42.820> of<00:07:42.910> so<00:07:43.360> the<00:07:43.480> idea<00:07:43.690> is<00:07:43.780> like<00:07:43.930> you<00:07:44.110> know 00:07:44.220 --> 00:07:44.230 align:start position:0% kind of so the idea is like you know 00:07:44.230 --> 00:07:46.710 align:start position:0% kind of so the idea is like you know with<00:07:44.560> peace<00:07:44.800> relay<00:07:45.100> one<00:07:45.820> EBM<00:07:46.180> chain<00:07:46.450> can 00:07:46.710 --> 00:07:46.720 align:start position:0% with peace relay one EBM chain can 00:07:46.720 --> 00:07:48.840 align:start position:0% with peace relay one EBM chain can become<00:07:46.930> aware<00:07:47.050> of<00:07:47.230> another<00:07:47.620> EDM<00:07:48.040> chain<00:07:48.250> on<00:07:48.640> the 00:07:48.840 --> 00:07:48.850 align:start position:0% become aware of another EDM chain on the 00:07:48.850 --> 00:07:49.950 align:start position:0% become aware of another EDM chain on the other<00:07:49.000> interesting<00:07:49.480> thing<00:07:49.660> that<00:07:49.690> you<00:07:49.810> might 00:07:49.950 --> 00:07:49.960 align:start position:0% other interesting thing that you might 00:07:49.960 --> 00:07:52.260 align:start position:0% other interesting thing that you might be<00:07:50.050> able<00:07:50.110> to<00:07:50.230> do<00:07:50.380> is<00:07:50.470> kind<00:07:50.650> of<00:07:50.710> point<00:07:51.060> the<00:07:52.060> piece 00:07:52.260 --> 00:07:52.270 align:start position:0% be able to do is kind of point the piece 00:07:52.270 --> 00:07:53.909 align:start position:0% be able to do is kind of point the piece we<00:07:52.450> like<00:07:52.570> contract<00:07:52.930> that<00:07:53.020> at<00:07:53.230> the<00:07:53.530> chain<00:07:53.740> that 00:07:53.909 --> 00:07:53.919 align:start position:0% we like contract that at the chain that 00:07:53.919 --> 00:07:56.340 align:start position:0% we like contract that at the chain that it's<00:07:54.040> actually<00:07:54.310> on<00:07:54.490> and<00:07:55.300> that<00:07:55.480> might<00:07:56.110> not<00:07:56.260> make 00:07:56.340 --> 00:07:56.350 align:start position:0% it's actually on and that might not make 00:07:56.350 --> 00:07:58.200 align:start position:0% it's actually on and that might not make much<00:07:56.410> sense<00:07:57.190> but<00:07:57.340> kind<00:07:57.610> of<00:07:57.669> the<00:07:57.730> ideas<00:07:58.000> we<00:07:58.120> can 00:07:58.200 --> 00:07:58.210 align:start position:0% much sense but kind of the ideas we can 00:07:58.210 --> 00:07:59.909 align:start position:0% much sense but kind of the ideas we can make<00:07:58.330> the<00:07:58.450> EVM<00:07:58.750> more<00:07:58.990> aware<00:07:59.320> of<00:07:59.740> what's 00:07:59.909 --> 00:07:59.919 align:start position:0% make the EVM more aware of what's 00:07:59.919 --> 00:08:01.740 align:start position:0% make the EVM more aware of what's actually<00:07:59.980> happening<00:08:00.160> in<00:08:00.520> the<00:08:00.580> EVM<00:08:00.850> so<00:08:01.630> for 00:08:01.740 --> 00:08:01.750 align:start position:0% actually happening in the EVM so for 00:08:01.750 --> 00:08:03.570 align:start position:0% actually happening in the EVM so for example<00:08:02.110> as<00:08:02.620> kind<00:08:02.830> of<00:08:02.890> a<00:08:02.950> spin-off<00:08:03.190> of<00:08:03.310> this 00:08:03.570 --> 00:08:03.580 align:start position:0% example as kind of a spin-off of this 00:08:03.580 --> 00:08:05.370 align:start position:0% example as kind of a spin-off of this project<00:08:04.000> one<00:08:04.150> thing<00:08:04.330> that<00:08:04.960> kind<00:08:05.140> of<00:08:05.200> came<00:08:05.320> out 00:08:05.370 --> 00:08:05.380 align:start position:0% project one thing that kind of came out 00:08:05.380 --> 00:08:07.260 align:start position:0% project one thing that kind of came out of<00:08:05.440> the<00:08:05.560> summer<00:08:05.740> was<00:08:05.970> essentially<00:08:06.970> a<00:08:07.000> gasps 00:08:07.260 --> 00:08:07.270 align:start position:0% of the summer was essentially a gasps 00:08:07.270 --> 00:08:09.510 align:start position:0% of the summer was essentially a gasps Oracle<00:08:07.840> and<00:08:08.380> so<00:08:08.620> kind<00:08:08.860> of<00:08:08.919> you<00:08:08.980> can<00:08:09.070> imagine 00:08:09.510 --> 00:08:09.520 align:start position:0% Oracle and so kind of you can imagine 00:08:09.520 --> 00:08:11.610 align:start position:0% Oracle and so kind of you can imagine that<00:08:09.700> like<00:08:09.940> the<00:08:10.120> AEM<00:08:10.630> kind<00:08:11.169> of<00:08:11.230> becomes<00:08:11.500> aware 00:08:11.610 --> 00:08:11.620 align:start position:0% that like the AEM kind of becomes aware 00:08:11.620 --> 00:08:13.520 align:start position:0% that like the AEM kind of becomes aware of<00:08:12.220> how<00:08:12.370> much<00:08:12.490> gas<00:08:12.730> is<00:08:12.940> actually<00:08:13.060> being<00:08:13.330> used 00:08:13.520 --> 00:08:13.530 align:start position:0% of how much gas is actually being used 00:08:13.530 --> 00:08:16.080 align:start position:0% of how much gas is actually being used on<00:08:14.530> the<00:08:14.710> EVM<00:08:15.040> the<00:08:15.640> reason<00:08:15.880> that's<00:08:16.000> interesting 00:08:16.080 --> 00:08:16.090 align:start position:0% on the EVM the reason that's interesting 00:08:16.090 --> 00:08:17.490 align:start position:0% on the EVM the reason that's interesting you<00:08:16.540> know<00:08:16.630> you<00:08:16.690> can<00:08:16.840> imagine<00:08:16.930> like<00:08:17.169> you<00:08:17.410> know 00:08:17.490 --> 00:08:17.500 align:start position:0% you know you can imagine like you know 00:08:17.500 --> 00:08:19.830 align:start position:0% you know you can imagine like you know if<00:08:17.740> there's<00:08:18.160> this<00:08:18.340> much<00:08:18.400> gas<00:08:18.790> used<00:08:19.240> if<00:08:19.630> there's 00:08:19.830 --> 00:08:19.840 align:start position:0% if there's this much gas used if there's 00:08:19.840 --> 00:08:21.450 align:start position:0% if there's this much gas used if there's more<00:08:19.960> than<00:08:20.110> 50%<00:08:20.350> of<00:08:20.680> gas<00:08:20.860> used<00:08:21.100> in<00:08:21.220> the<00:08:21.310> last 00:08:21.450 --> 00:08:21.460 align:start position:0% more than 50% of gas used in the last 00:08:21.460 --> 00:08:23.640 align:start position:0% more than 50% of gas used in the last 100<00:08:21.760> blocks<00:08:21.970> extend<00:08:22.750> the<00:08:22.900> time<00:08:23.080> lock<00:08:23.320> on<00:08:23.530> this 00:08:23.640 --> 00:08:23.650 align:start position:0% 100 blocks extend the time lock on this 00:08:23.650 --> 00:08:25.020 align:start position:0% 100 blocks extend the time lock on this to<00:08:23.800> eternal<00:08:24.190> state<00:08:24.490> channel<00:08:24.760> time<00:08:24.880> out 00:08:25.020 --> 00:08:25.030 align:start position:0% to eternal state channel time out 00:08:25.030 --> 00:08:28.500 align:start position:0% to eternal state channel time out interesting<00:08:25.900> things<00:08:26.050> like<00:08:26.169> that<00:08:27.419> right<00:08:28.419> now 00:08:28.500 --> 00:08:28.510 align:start position:0% interesting things like that right now 00:08:28.510 --> 00:08:30.330 align:start position:0% interesting things like that right now peacefully<00:08:29.050> is<00:08:29.290> being<00:08:29.800> maintained<00:08:30.130> by<00:08:30.280> two 00:08:30.330 --> 00:08:30.340 align:start position:0% peacefully is being maintained by two 00:08:30.340 --> 00:08:32.480 align:start position:0% peacefully is being maintained by two different<00:08:30.580> team<00:08:30.960> the<00:08:31.960> first<00:08:32.140> team<00:08:32.229> is 00:08:32.480 --> 00:08:32.490 align:start position:0% different team the first team is 00:08:32.490 --> 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we<00:08:40.810> are<00:08:40.960> planning<00:08:41.320> to<00:08:41.469> release<00:08:41.589> some 00:08:42.900 --> 00:08:42.910 align:start position:0% we are planning to release some 00:08:42.910 --> 00:08:45.270 align:start position:0% we are planning to release some better<00:08:43.090> version<00:08:43.540> a<00:08:43.680> piece<00:08:44.680> relayed<00:08:45.040> by<00:08:45.220> the 00:08:45.270 --> 00:08:45.280 align:start position:0% better version a piece relayed by the 00:08:45.280 --> 00:08:47.070 align:start position:0% better version a piece relayed by the enemies<00:08:45.610> this<00:08:45.700> month<00:08:45.910> or<00:08:46.120> early<00:08:46.300> early<00:08:46.900> next 00:08:47.070 --> 00:08:47.080 align:start position:0% enemies this month or early early next 00:08:47.080 --> 00:08:51.240 align:start position:0% enemies this month or early early next month<00:08:47.230> so<00:08:47.830> please<00:08:48.130> keep<00:08:48.280> in<00:08:48.400> touch<00:08:50.160> any<00:08:51.160> other 00:08:51.240 --> 00:08:51.250 align:start position:0% month so please keep in touch any other 00:08:51.250 --> 00:08:57.450 align:start position:0% month so please keep in touch any other question<00:08:51.730> for<00:08:52.000> peace<00:08:52.270> really<00:08:55.530> alright<00:08:56.530> so<00:08:57.310> in 00:08:57.450 --> 00:08:57.460 align:start position:0% question for peace really alright so in 00:08:57.460 --> 00:08:58.980 align:start position:0% question for peace really alright so in typical<00:08:57.580> runner-up<00:08:58.240> fashion<00:08:58.630> I<00:08:58.780> actually 00:08:58.980 --> 00:08:58.990 align:start position:0% typical runner-up fashion I actually 00:08:58.990 --> 00:09:01.290 align:start position:0% typical runner-up fashion I actually prepared<00:08:59.320> a<00:08:59.530> presentation<00:08:59.970> so<00:09:00.970> let<00:09:01.090> me<00:09:01.150> just 00:09:01.290 --> 00:09:01.300 align:start position:0% prepared a presentation so let me just 00:09:01.300 --> 00:09:02.610 align:start position:0% prepared a presentation so let me just run<00:09:01.450> through<00:09:01.480> that<00:09:01.660> real<00:09:01.900> quick<00:09:02.110> so<00:09:02.320> our 00:09:02.610 --> 00:09:02.620 align:start position:0% run through that real quick so our 00:09:02.620 --> 00:09:04.680 align:start position:0% run through that real quick so our project<00:09:03.550> was<00:09:03.700> front-running<00:09:04.060> Bank<00:09:04.300> art<00:09:04.480> it 00:09:04.680 --> 00:09:04.690 align:start position:0% project was front-running Bank art it 00:09:04.690 --> 00:09:06.900 align:start position:0% project was front-running Bank art it was<00:09:04.780> done<00:09:04.990> by<00:09:05.140> myself<00:09:05.560> to<00:09:05.890> see<00:09:06.010> Qureshi<00:09:06.280> Ivonne 00:09:06.900 --> 00:09:06.910 align:start position:0% was done by myself to see Qureshi Ivonne 00:09:06.910 --> 00:09:09.990 align:start position:0% was done by myself to see Qureshi Ivonne Bugatti<00:09:07.210> and<00:09:07.390> Preeti<00:09:07.630> Katz<00:09:07.810> ready<00:09:07.990> so<00:09:09.000> so 00:09:09.990 --> 00:09:10.000 align:start position:0% Bugatti and Preeti Katz ready so so 00:09:10.000 --> 00:09:13.920 align:start position:0% Bugatti and Preeti Katz ready so so quick<00:09:11.430> so<00:09:12.430> uh<00:09:12.460> quick<00:09:13.150> note<00:09:13.300> so<00:09:13.450> this<00:09:13.630> research 00:09:13.920 --> 00:09:13.930 align:start position:0% quick so uh quick note so this research 00:09:13.930 --> 00:09:16.110 align:start position:0% quick so uh quick note so this research so<00:09:14.350> we<00:09:14.440> did<00:09:14.590> this<00:09:14.650> at<00:09:14.800> I<00:09:14.830> see<00:09:15.070> three<00:09:15.280> and<00:09:16.000> then 00:09:16.110 --> 00:09:16.120 align:start position:0% so we did this at I see three and then 00:09:16.120 --> 00:09:17.550 align:start position:0% so we did this at I see three and then we<00:09:16.210> published<00:09:16.540> the<00:09:16.630> research<00:09:16.720> on<00:09:17.080> October 00:09:17.550 --> 00:09:17.560 align:start position:0% we published the research on October 00:09:17.560 --> 00:09:19.320 align:start position:0% we published the research on October 10th<00:09:17.770> at<00:09:18.280> the<00:09:18.370> same<00:09:18.550> time<00:09:18.760> we<00:09:18.940> worked<00:09:19.120> with<00:09:19.270> the 00:09:19.320 --> 00:09:19.330 align:start position:0% 10th at the same time we worked with the 00:09:19.330 --> 00:09:20.700 align:start position:0% 10th at the same time we worked with the banqueting<00:09:19.780> before<00:09:20.080> we<00:09:20.170> actually<00:09:20.290> published 00:09:20.700 --> 00:09:20.710 align:start position:0% banqueting before we actually published 00:09:20.710 --> 00:09:22.410 align:start position:0% banqueting before we actually published to<00:09:21.100> address<00:09:21.370> the<00:09:21.520> vulnerability<00:09:22.030> and<00:09:22.060> put<00:09:22.330> out 00:09:22.410 --> 00:09:22.420 align:start position:0% to address the vulnerability and put out 00:09:22.420 --> 00:09:23.940 align:start position:0% to address the vulnerability and put out some<00:09:22.450> fix<00:09:22.810> so<00:09:22.930> that<00:09:23.050> it<00:09:23.350> wasn't<00:09:23.650> so<00:09:23.740> vulnerable 00:09:23.940 --> 00:09:23.950 align:start position:0% some fix so that it wasn't so vulnerable 00:09:23.950 --> 00:09:25.650 align:start position:0% some fix so that it wasn't so vulnerable to<00:09:24.160> this<00:09:24.310> I<00:09:24.910> just<00:09:25.060> want<00:09:25.300> to<00:09:25.360> point<00:09:25.420> out<00:09:25.540> the 00:09:25.650 --> 00:09:25.660 align:start position:0% to this I just want to point out the 00:09:25.660 --> 00:09:27.120 align:start position:0% to this I just want to point out the bank<00:09:25.810> routine<00:09:26.050> was<00:09:26.170> cooperative<00:09:26.830> and 00:09:27.120 --> 00:09:27.130 align:start position:0% bank routine was cooperative and 00:09:27.130 --> 00:09:29.250 align:start position:0% bank routine was cooperative and analyzing<00:09:27.520> attack<00:09:27.730> pushing<00:09:28.270> out<00:09:28.360> of<00:09:28.450> fix<00:09:28.630> so 00:09:29.250 --> 00:09:29.260 align:start position:0% analyzing attack pushing out of fix so 00:09:29.260 --> 00:09:30.420 align:start position:0% analyzing attack pushing out of fix so want<00:09:29.440> to<00:09:29.500> give<00:09:29.590> props<00:09:29.770> where<00:09:29.860> it's<00:09:30.010> dude<00:09:30.190> it's 00:09:30.420 --> 00:09:30.430 align:start position:0% want to give props where it's dude it's 00:09:30.430 --> 00:09:32.040 align:start position:0% want to give props where it's dude it's still<00:09:30.640> in<00:09:30.730> early<00:09:30.790> space<00:09:31.120> people<00:09:31.600> mess<00:09:31.840> up<00:09:31.960> all 00:09:32.040 --> 00:09:32.050 align:start position:0% still in early space people mess up all 00:09:32.050 --> 00:09:33.840 align:start position:0% still in early space people mess up all the<00:09:32.080> time<00:09:32.320> you<00:09:32.560> know<00:09:32.950> blockchain<00:09:33.550> develop<00:09:33.760> is 00:09:33.840 --> 00:09:33.850 align:start position:0% the time you know blockchain develop is 00:09:33.850 --> 00:09:36.960 align:start position:0% the time you know blockchain develop is really<00:09:34.030> hard<00:09:34.210> so<00:09:35.110> that<00:09:35.470> was<00:09:35.560> cool<00:09:35.710> so<00:09:36.700> what<00:09:36.880> is 00:09:36.960 --> 00:09:36.970 align:start position:0% really hard so that was cool so what is 00:09:36.970 --> 00:09:38.370 align:start position:0% really hard so that was cool so what is front-running<00:09:37.270> funding<00:09:38.050> is<00:09:38.110> a<00:09:38.170> term<00:09:38.350> that 00:09:38.370 --> 00:09:38.380 align:start position:0% front-running funding is a term that 00:09:38.380 --> 00:09:40.320 align:start position:0% front-running funding is a term that originated<00:09:38.860> back<00:09:39.010> in<00:09:39.190> the<00:09:39.280> stock<00:09:39.460> market<00:09:39.790> and 00:09:40.320 --> 00:09:40.330 align:start position:0% originated back in the stock market and 00:09:40.330 --> 00:09:41.730 align:start position:0% originated back in the stock market and in<00:09:40.630> the<00:09:40.660> days<00:09:40.810> when<00:09:40.960> trades<00:09:41.170> were<00:09:41.260> executed<00:09:41.650> on 00:09:41.730 --> 00:09:41.740 align:start position:0% in the days when trades were executed on 00:09:41.740 --> 00:09:43.320 align:start position:0% in the days when trades were executed on paper<00:09:41.920> so<00:09:42.460> literally<00:09:42.730> what<00:09:42.910> would<00:09:43.000> happen<00:09:43.240> is 00:09:43.320 --> 00:09:43.330 align:start position:0% paper so literally what would happen is 00:09:43.330 --> 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position:0% out loud so other people could hear and they<00:09:47.560> would<00:09:47.680> go<00:09:47.800> walk<00:09:48.010> over<00:09:48.220> the<00:09:48.340> desk<00:09:48.520> to 00:09:48.630 --> 00:09:48.640 align:start position:0% they would go walk over the desk to 00:09:48.640 --> 00:09:50.340 align:start position:0% they would go walk over the desk to perform<00:09:48.880> the<00:09:48.970> trade<00:09:49.180> a<00:09:49.420> malicious<00:09:50.110> trader 00:09:50.340 --> 00:09:50.350 align:start position:0% perform the trade a malicious trader 00:09:50.350 --> 00:09:52.200 align:start position:0% perform the trade a malicious trader would<00:09:50.530> basically<00:09:50.920> going<00:09:51.460> on<00:09:51.670> or<00:09:51.850> see<00:09:51.970> this<00:09:52.090> is 00:09:52.200 --> 00:09:52.210 align:start position:0% would basically going on or see this is 00:09:52.210 --> 00:09:54.090 align:start position:0% would basically going on or see this is going<00:09:52.420> on<00:09:52.540> and<00:09:52.720> literally<00:09:53.200> run<00:09:53.560> in<00:09:53.740> front<00:09:53.980> of 00:09:54.090 --> 00:09:54.100 align:start position:0% going on and literally run in front of 00:09:54.100 --> 00:09:56.670 align:start position:0% going on and literally run in front of them<00:09:54.220> to<00:09:54.670> put<00:09:54.880> in<00:09:55.060> a<00:09:55.270> buy<00:09:55.480> or<00:09:55.750> sell<00:09:55.990> ahead<00:09:56.590> of 00:09:56.670 --> 00:09:56.680 align:start position:0% them to put in a buy or sell ahead of 00:09:56.680 --> 00:09:58.530 align:start position:0% them to put in a buy or sell ahead of time<00:09:56.830> to<00:09:57.250> profit<00:09:57.880> and<00:09:58.030> sort<00:09:58.180> of<00:09:58.240> sandwich 00:09:58.530 --> 00:09:58.540 align:start position:0% time to profit and sort of sandwich 00:09:58.540 --> 00:10:01.170 align:start position:0% time to profit and sort of sandwich their<00:09:58.720> transaction<00:09:59.410> in<00:09:59.470> between<00:09:59.740> now<00:10:00.640> you<00:10:01.030> can 00:10:01.170 --> 00:10:01.180 align:start position:0% their transaction in between now you can 00:10:01.180 --> 00:10:02.940 align:start position:0% their transaction in between now you can do<00:10:01.270> the<00:10:01.360> same<00:10:01.480> thing<00:10:01.600> on<00:10:01.660> the<00:10:01.750> blockchain<00:10:01.900> if<00:10:02.770> a 00:10:02.940 --> 00:10:02.950 align:start position:0% do the same thing on the blockchain if a 00:10:02.950 --> 00:10:04.260 align:start position:0% do the same thing on the blockchain if a miner<00:10:03.130> or<00:10:03.310> user<00:10:03.490> sees<00:10:03.760> an<00:10:03.850> unconfirmed 00:10:04.260 --> 00:10:04.270 align:start position:0% miner or user sees an unconfirmed 00:10:04.270 --> 00:10:05.520 align:start position:0% miner or user sees an unconfirmed transaction<00:10:04.780> in<00:10:04.840> the<00:10:04.900> mempool<00:10:05.170> that<00:10:05.320> they<00:10:05.410> can 00:10:05.520 --> 00:10:05.530 align:start position:0% transaction in the mempool that they can 00:10:05.530 --> 00:10:07.140 align:start position:0% transaction in the mempool that they can profit<00:10:05.830> from<00:10:05.860> they<00:10:06.370> can<00:10:06.520> squeeze<00:10:06.790> their<00:10:07.060> own 00:10:07.140 --> 00:10:07.150 align:start position:0% profit from they can squeeze their own 00:10:07.150 --> 00:10:08.700 align:start position:0% profit from they can squeeze their own transaction<00:10:07.630> to<00:10:07.690> come<00:10:07.840> in<00:10:07.930> front<00:10:08.110> so 00:10:08.700 --> 00:10:08.710 align:start position:0% transaction to come in front so 00:10:08.710 --> 00:10:09.930 align:start position:0% transaction to come in front so essentially<00:10:09.040> you're<00:10:09.190> profiting<00:10:09.550> from<00:10:09.580> a 00:10:09.930 --> 00:10:09.940 align:start position:0% essentially you're profiting from a 00:10:09.940 --> 00:10:11.400 align:start position:0% essentially you're profiting from a beneficial<00:10:10.450> reordering<00:10:11.230> of<00:10:11.290> the 00:10:11.400 --> 00:10:11.410 align:start position:0% beneficial reordering of the 00:10:11.410 --> 00:10:12.960 align:start position:0% beneficial reordering of the transactions<00:10:11.890> now<00:10:12.280> as<00:10:12.400> a<00:10:12.430> miner<00:10:12.670> this<00:10:12.880> is 00:10:12.960 --> 00:10:12.970 align:start position:0% transactions now as a miner this is 00:10:12.970 --> 00:10:14.280 align:start position:0% transactions now as a miner this is pretty<00:10:13.120> easy<00:10:13.300> because<00:10:13.540> the<00:10:13.840> the<00:10:14.080> way<00:10:14.260> that 00:10:14.280 --> 00:10:14.290 align:start position:0% pretty easy because the the way that 00:10:14.290 --> 00:10:16.290 align:start position:0% pretty easy because the the way that mining<00:10:14.740> essentially<00:10:15.190> works<00:10:15.340> is<00:10:15.490> that<00:10:15.580> you<00:10:15.940> are 00:10:16.290 --> 00:10:16.300 align:start position:0% mining essentially works is that you are 00:10:16.300 --> 00:10:17.610 align:start position:0% mining essentially works is that you are sort<00:10:16.510> of<00:10:16.570> the<00:10:16.660> leader<00:10:16.840> for<00:10:17.020> a<00:10:17.080> moment<00:10:17.410> you<00:10:17.530> get 00:10:17.610 --> 00:10:17.620 align:start position:0% sort of the leader for a moment you get 00:10:17.620 --> 00:10:19.110 align:start position:0% sort of the leader for a moment you get to<00:10:17.680> decide<00:10:17.950> what<00:10:18.160> goes<00:10:18.280> in<00:10:18.400> that<00:10:18.460> block<00:10:18.700> and<00:10:18.910> so 00:10:19.110 --> 00:10:19.120 align:start position:0% to decide what goes in that block and so 00:10:19.120 --> 00:10:20.340 align:start position:0% to decide what goes in that block and so you<00:10:19.210> can<00:10:19.330> reorder<00:10:19.540> transactions<00:10:20.020> however<00:10:20.260> you 00:10:20.340 --> 00:10:20.350 align:start position:0% you can reorder transactions however you 00:10:20.350 --> 00:10:22.410 align:start position:0% you can reorder transactions however you want<00:10:20.530> if<00:10:20.710> you<00:10:20.950> manage<00:10:21.250> to<00:10:21.280> mine<00:10:21.490> that<00:10:21.610> block<00:10:21.790> as 00:10:22.410 --> 00:10:22.420 align:start position:0% want if you manage to mine that block as 00:10:22.420 --> 00:10:24.090 align:start position:0% want if you manage to mine that block as a<00:10:22.480> user<00:10:22.780> however<00:10:23.050> you<00:10:23.560> can<00:10:23.830> actually 00:10:24.090 --> 00:10:24.100 align:start position:0% a user however you can actually 00:10:24.100 --> 00:10:25.950 align:start position:0% a user however you can actually manipulate<00:10:24.490> where<00:10:25.090> you<00:10:25.210> go<00:10:25.390> in<00:10:25.480> a<00:10:25.570> block<00:10:25.750> by 00:10:25.950 --> 00:10:25.960 align:start position:0% manipulate where you go in a block by 00:10:25.960 --> 00:10:28.080 align:start position:0% manipulate where you go in a block by changing<00:10:26.350> your<00:10:26.470> gas<00:10:26.590> price<00:10:26.830> and<00:10:27.070> most<00:10:27.640> mining 00:10:28.080 --> 00:10:28.090 align:start position:0% changing your gas price and most mining 00:10:28.090 --> 00:10:30.030 align:start position:0% changing your gas price and most mining clients<00:10:28.390> will<00:10:28.540> sort<00:10:28.810> mine<00:10:28.990> transactions<00:10:29.620> by 00:10:30.030 --> 00:10:30.040 align:start position:0% clients will sort mine transactions by 00:10:30.040 --> 00:10:31.710 align:start position:0% clients will sort mine transactions by the<00:10:30.100> gas<00:10:30.370> price<00:10:30.640> so<00:10:30.790> if<00:10:30.880> you<00:10:31.000> come<00:10:31.480> in<00:10:31.600> higher 00:10:31.710 --> 00:10:31.720 align:start position:0% the gas price so if you come in higher 00:10:31.720 --> 00:10:32.820 align:start position:0% the gas price so if you come in higher than<00:10:31.900> somebody<00:10:32.140> else<00:10:32.290> you'll<00:10:32.440> come<00:10:32.590> in<00:10:32.710> before 00:10:32.820 --> 00:10:32.830 align:start position:0% than somebody else you'll come in before 00:10:32.830 --> 00:10:34.140 align:start position:0% than somebody else you'll come in before somebody<00:10:33.220> else<00:10:33.280> in<00:10:33.580> the<00:10:33.940> serialized 00:10:34.140 --> 00:10:34.150 align:start position:0% somebody else in the serialized 00:10:34.150 --> 00:10:37.110 align:start position:0% somebody else in the serialized execution<00:10:34.930> so<00:10:35.500> many<00:10:36.490> blocks<00:10:36.760> free<00:10:36.850> market 00:10:37.110 --> 00:10:37.120 align:start position:0% execution so many blocks free market 00:10:37.120 --> 00:10:38.160 align:start position:0% execution so many blocks free market protocols<00:10:37.450> are<00:10:37.570> vulnerable<00:10:37.900> to<00:10:37.960> miner 00:10:38.160 --> 00:10:38.170 align:start position:0% protocols are vulnerable to miner 00:10:38.170 --> 00:10:40.050 align:start position:0% protocols are vulnerable to miner front-running<00:10:38.610> but<00:10:39.610> it<00:10:39.670> doesn't<00:10:39.880> seem<00:10:39.970> to 00:10:40.050 --> 00:10:40.060 align:start position:0% front-running but it doesn't seem to 00:10:40.060 --> 00:10:41.250 align:start position:0% front-running but it doesn't seem to really<00:10:40.240> happen<00:10:40.360> very<00:10:40.540> much<00:10:40.720> in<00:10:40.840> practice<00:10:41.140> that 00:10:41.250 --> 00:10:41.260 align:start position:0% really happen very much in practice that 00:10:41.260 --> 00:10:44.040 align:start position:0% really happen very much in practice that we<00:10:41.320> can<00:10:41.440> observe<00:10:41.710> plus<00:10:42.720> miners<00:10:43.720> can<00:10:43.870> only 00:10:44.040 --> 00:10:44.050 align:start position:0% we can observe plus miners can only 00:10:44.050 --> 00:10:45.210 align:start position:0% we can observe plus miners can only front-running<00:10:44.500> blocks<00:10:44.920> that<00:10:45.100> they 00:10:45.210 --> 00:10:45.220 align:start position:0% front-running blocks that they 00:10:45.220 --> 00:10:46.500 align:start position:0% front-running blocks that they themselves<00:10:45.400> happen<00:10:45.880> to<00:10:45.970> mine<00:10:46.120> right<00:10:46.330> so 00:10:46.500 --> 00:10:46.510 align:start position:0% themselves happen to mine right so 00:10:46.510 --> 00:10:48.000 align:start position:0% themselves happen to mine right so unless<00:10:46.990> we're<00:10:47.200> coordinating<00:10:47.620> among<00:10:47.770> a<00:10:47.830> big 00:10:48.000 --> 00:10:48.010 align:start position:0% unless we're coordinating among a big 00:10:48.010 --> 00:10:49.800 align:start position:0% unless we're coordinating among a big mining<00:10:48.280> pool<00:10:48.490> if<00:10:48.730> I'm<00:10:48.970> a<00:10:49.000> malicious<00:10:49.360> miner<00:10:49.570> I 00:10:49.800 --> 00:10:49.810 align:start position:0% mining pool if I'm a malicious miner I 00:10:49.810 --> 00:10:51.930 align:start position:0% mining pool if I'm a malicious miner I only<00:10:50.080> get<00:10:50.350> the<00:10:50.380> front<00:10:50.620> run<00:10:50.710> and<00:10:50.890> it<00:10:51.250> happened 00:10:51.930 --> 00:10:51.940 align:start position:0% only get the front run and it happened 00:10:51.940 --> 00:10:53.910 align:start position:0% only get the front run and it happened to<00:10:51.970> mine<00:10:52.510> a<00:10:52.540> block<00:10:52.810> which<00:10:53.170> is<00:10:53.290> very<00:10:53.500> very<00:10:53.740> rare 00:10:53.910 --> 00:10:53.920 align:start position:0% to mine a block which is very very rare 00:10:53.920 --> 00:10:54.560 align:start position:0% to mine a block which is very very rare for<00:10:54.040> any 00:10:54.560 --> 00:10:54.570 align:start position:0% for any 00:10:54.570 --> 00:10:56.480 align:start position:0% for any minor<00:10:54.780> however<00:10:55.620> if<00:10:55.800> your<00:10:55.950> protocol<00:10:56.310> can<00:10:56.430> be 00:10:56.480 --> 00:10:56.490 align:start position:0% minor however if your protocol can be 00:10:56.490 --> 00:10:59.480 align:start position:0% minor however if your protocol can be front-run<00:10:56.940> by<00:10:57.120> random<00:10:57.540> users<00:10:58.250> that's<00:10:59.250> really 00:10:59.480 --> 00:10:59.490 align:start position:0% front-run by random users that's really 00:10:59.490 --> 00:10:59.840 align:start position:0% front-run by random users that's really bad 00:10:59.840 --> 00:10:59.850 align:start position:0% bad 00:10:59.850 --> 00:11:01.430 align:start position:0% bad does<00:11:00.270> that<00:11:00.360> means<00:11:00.540> that<00:11:00.690> any<00:11:00.930> user<00:11:01.200> who's 00:11:01.430 --> 00:11:01.440 align:start position:0% does that means that any user who's 00:11:01.440 --> 00:11:02.540 align:start position:0% does that means that any user who's sitting<00:11:01.680> on<00:11:01.740> the<00:11:01.800> blockchain<00:11:02.010> looking<00:11:02.430> for 00:11:02.540 --> 00:11:02.550 align:start position:0% sitting on the blockchain looking for 00:11:02.550 --> 00:11:04.400 align:start position:0% sitting on the blockchain looking for transactions<00:11:03.030> can<00:11:03.360> run<00:11:03.600> everything<00:11:04.020> in<00:11:04.140> front 00:11:04.400 --> 00:11:04.410 align:start position:0% transactions can run everything in front 00:11:04.410 --> 00:11:07.040 align:start position:0% transactions can run everything in front run<00:11:04.530> any<00:11:04.740> transaction<00:11:05.310> that<00:11:05.610> they<00:11:05.760> want<00:11:05.940> to<00:11:06.050> so 00:11:07.040 --> 00:11:07.050 align:start position:0% run any transaction that they want to so 00:11:07.050 --> 00:11:08.360 align:start position:0% run any transaction that they want to so banker<00:11:07.320> was<00:11:07.470> known<00:11:07.710> to<00:11:07.740> be<00:11:07.980> vulnerable<00:11:08.160> to 00:11:08.360 --> 00:11:08.370 align:start position:0% banker was known to be vulnerable to 00:11:08.370 --> 00:11:10.070 align:start position:0% banker was known to be vulnerable to minor<00:11:08.640> front<00:11:08.880> running<00:11:09.030> as<00:11:09.180> many<00:11:09.390> marketplaces 00:11:10.070 --> 00:11:10.080 align:start position:0% minor front running as many marketplaces 00:11:10.080 --> 00:11:11.660 align:start position:0% minor front running as many marketplaces are<00:11:10.200> but<00:11:10.680> we<00:11:10.830> demonstrated<00:11:11.340> that<00:11:11.370> it<00:11:11.580> was 00:11:11.660 --> 00:11:11.670 align:start position:0% are but we demonstrated that it was 00:11:11.670 --> 00:11:13.310 align:start position:0% are but we demonstrated that it was vulnerable<00:11:11.790> to<00:11:12.090> user<00:11:12.390> front-running<00:11:12.840> meaning 00:11:13.310 --> 00:11:13.320 align:start position:0% vulnerable to user front-running meaning 00:11:13.320 --> 00:11:14.930 align:start position:0% vulnerable to user front-running meaning any<00:11:13.530> user<00:11:13.800> on<00:11:13.890> the<00:11:14.040> network<00:11:14.280> could<00:11:14.610> front<00:11:14.880> row 00:11:14.930 --> 00:11:14.940 align:start position:0% any user on the network could front row 00:11:14.940 --> 00:11:16.190 align:start position:0% any user on the network could front row and<00:11:15.000> Bank<00:11:15.180> row<00:11:15.270> transactions<00:11:15.750> and<00:11:15.900> make<00:11:16.050> money 00:11:16.190 --> 00:11:16.200 align:start position:0% and Bank row transactions and make money 00:11:16.200 --> 00:11:18.320 align:start position:0% and Bank row transactions and make money so<00:11:16.800> how<00:11:17.250> does<00:11:17.310> Bank<00:11:17.640> work<00:11:17.910> for<00:11:18.090> those<00:11:18.180> of<00:11:18.270> you 00:11:18.320 --> 00:11:18.330 align:start position:0% so how does Bank work for those of you 00:11:18.330 --> 00:11:19.970 align:start position:0% so how does Bank work for those of you who<00:11:18.390> are<00:11:18.450> not<00:11:18.540> familiar<00:11:18.660> Bank<00:11:19.770> is 00:11:19.970 --> 00:11:19.980 align:start position:0% who are not familiar Bank is 00:11:19.980 --> 00:11:21.980 align:start position:0% who are not familiar Bank is basically<00:11:20.490> an<00:11:21.120> automated<00:11:21.540> liquidity 00:11:21.980 --> 00:11:21.990 align:start position:0% basically an automated liquidity 00:11:21.990 --> 00:11:24.290 align:start position:0% basically an automated liquidity provider<00:11:22.290> using<00:11:22.650> a<00:11:22.710> smart<00:11:22.920> contract<00:11:23.040> it<00:11:23.610> gives 00:11:24.290 --> 00:11:24.300 align:start position:0% provider using a smart contract it gives 00:11:24.300 --> 00:11:26.060 align:start position:0% provider using a smart contract it gives you<00:11:24.390> deterministic<00:11:24.960> pricing<00:11:25.350> by<00:11:25.710> maintaining 00:11:26.060 --> 00:11:26.070 align:start position:0% you deterministic pricing by maintaining 00:11:26.070 --> 00:11:28.160 align:start position:0% you deterministic pricing by maintaining a<00:11:26.280> constant<00:11:26.490> reserve<00:11:26.910> ratio<00:11:27.210> okay<00:11:27.390> so<00:11:27.540> long 00:11:28.160 --> 00:11:28.170 align:start position:0% a constant reserve ratio okay so long 00:11:28.170 --> 00:11:29.810 align:start position:0% a constant reserve ratio okay so long story<00:11:28.320> short<00:11:28.620> if<00:11:28.860> you<00:11:29.010> buy<00:11:29.190> the<00:11:29.250> price<00:11:29.550> goes<00:11:29.760> up 00:11:29.810 --> 00:11:29.820 align:start position:0% story short if you buy the price goes up 00:11:29.820 --> 00:11:31.220 align:start position:0% story short if you buy the price goes up if<00:11:30.000> you<00:11:30.090> sell<00:11:30.270> the<00:11:30.390> price<00:11:30.540> goes<00:11:30.690> down<00:11:30.750> that's 00:11:31.220 --> 00:11:31.230 align:start position:0% if you sell the price goes down that's 00:11:31.230 --> 00:11:33.050 align:start position:0% if you sell the price goes down that's that's<00:11:31.590> the<00:11:31.800> law<00:11:32.220> of<00:11:32.370> the<00:11:32.460> land<00:11:32.550> for<00:11:32.700> Bank<00:11:32.910> Corp 00:11:33.050 --> 00:11:33.060 align:start position:0% that's the law of the land for Bank Corp 00:11:33.060 --> 00:11:35.090 align:start position:0% that's the law of the land for Bank Corp okay<00:11:33.330> so<00:11:33.780> what<00:11:34.230> that<00:11:34.320> means<00:11:34.530> is<00:11:34.680> that<00:11:34.710> if<00:11:34.980> I 00:11:35.090 --> 00:11:35.100 align:start position:0% okay so what that means is that if I 00:11:35.100 --> 00:11:36.080 align:start position:0% okay so what that means is that if I know<00:11:35.130> someone's<00:11:35.490> gonna<00:11:35.580> buy<00:11:35.760> I<00:11:35.790> know<00:11:36.000> the 00:11:36.080 --> 00:11:36.090 align:start position:0% know someone's gonna buy I know the 00:11:36.090 --> 00:11:38.180 align:start position:0% know someone's gonna buy I know the price<00:11:36.240> is<00:11:36.330> gonna<00:11:36.420> go<00:11:36.510> up<00:11:36.600> great<00:11:37.110> so<00:11:37.590> the<00:11:38.010> attack 00:11:38.180 --> 00:11:38.190 align:start position:0% price is gonna go up great so the attack 00:11:38.190 --> 00:11:39.770 align:start position:0% price is gonna go up great so the attack is<00:11:38.280> pretty<00:11:38.460> simple<00:11:38.610> you<00:11:38.970> launch<00:11:39.330> a<00:11:39.450> guest<00:11:39.630> node 00:11:39.770 --> 00:11:39.780 align:start position:0% is pretty simple you launch a guest node 00:11:39.780 --> 00:11:41.360 align:start position:0% is pretty simple you launch a guest node and<00:11:39.990> you<00:11:40.230> write<00:11:40.740> a<00:11:40.770> little<00:11:40.980> bit<00:11:41.070> of<00:11:41.130> Python 00:11:41.360 --> 00:11:41.370 align:start position:0% and you write a little bit of Python 00:11:41.370 --> 00:11:42.980 align:start position:0% and you write a little bit of Python script<00:11:41.640> to<00:11:41.700> basically<00:11:42.090> monitor<00:11:42.420> the<00:11:42.690> mem<00:11:42.840> pool 00:11:42.980 --> 00:11:42.990 align:start position:0% script to basically monitor the mem pool 00:11:42.990 --> 00:11:44.510 align:start position:0% script to basically monitor the mem pool and<00:11:43.140> see<00:11:43.230> what<00:11:43.410> transactions<00:11:43.860> are<00:11:43.950> going<00:11:44.430> in 00:11:44.510 --> 00:11:44.520 align:start position:0% and see what transactions are going in 00:11:44.520 --> 00:11:46.640 align:start position:0% and see what transactions are going in the<00:11:44.580> network<00:11:44.820> if<00:11:45.510> you<00:11:45.600> can<00:11:45.930> if<00:11:46.200> you<00:11:46.290> can<00:11:46.320> tell 00:11:46.640 --> 00:11:46.650 align:start position:0% the network if you can if you can tell 00:11:46.650 --> 00:11:48.110 align:start position:0% the network if you can if you can tell that<00:11:47.070> the<00:11:47.310> transaction<00:11:47.790> is<00:11:47.880> one<00:11:48.000> that 00:11:48.110 --> 00:11:48.120 align:start position:0% that the transaction is one that 00:11:48.120 --> 00:11:49.400 align:start position:0% that the transaction is one that qualifies<00:11:48.570> as<00:11:48.600> being<00:11:48.900> worth<00:11:49.050> front-running 00:11:49.400 --> 00:11:49.410 align:start position:0% qualifies as being worth front-running 00:11:49.410 --> 00:11:51.770 align:start position:0% qualifies as being worth front-running which<00:11:49.890> that's<00:11:50.220> basically<00:11:50.550> that's<00:11:50.730> doing<00:11:51.030> then 00:11:51.770 --> 00:11:51.780 align:start position:0% which that's basically that's doing then 00:11:51.780 --> 00:11:52.970 align:start position:0% which that's basically that's doing then all<00:11:51.900> you<00:11:52.020> do<00:11:52.170> is<00:11:52.260> you<00:11:52.350> increment<00:11:52.740> your<00:11:52.800> gas 00:11:52.970 --> 00:11:52.980 align:start position:0% all you do is you increment your gas 00:11:52.980 --> 00:11:54.080 align:start position:0% all you do is you increment your gas price<00:11:53.250> a<00:11:53.280> little<00:11:53.430> bit<00:11:53.550> more<00:11:53.760> than<00:11:53.910> what<00:11:54.000> they 00:11:54.080 --> 00:11:54.090 align:start position:0% price a little bit more than what they 00:11:54.090 --> 00:11:55.760 align:start position:0% price a little bit more than what they paid<00:11:54.120> so<00:11:54.690> do<00:11:54.780> you<00:11:54.840> can<00:11:54.930> see<00:11:55.020> 1g<00:11:55.350> way<00:11:55.440> more<00:11:55.620> than 00:11:55.760 --> 00:11:55.770 align:start position:0% paid so do you can see 1g way more than 00:11:55.770 --> 00:11:58.160 align:start position:0% paid so do you can see 1g way more than them<00:11:55.890> then<00:11:56.640> you<00:11:56.790> you<00:11:57.150> launch<00:11:57.540> the<00:11:57.690> transaction 00:11:58.160 --> 00:11:58.170 align:start position:0% them then you you launch the transaction 00:11:58.170 --> 00:12:00.530 align:start position:0% them then you you launch the transaction and<00:11:58.830> if<00:11:59.430> all<00:11:59.640> goes<00:11:59.670> well<00:11:59.820> you<00:12:00.210> should<00:12:00.240> have<00:12:00.390> run 00:12:00.530 --> 00:12:00.540 align:start position:0% and if all goes well you should have run 00:12:00.540 --> 00:12:03.110 align:start position:0% and if all goes well you should have run around<00:12:00.720> them<00:12:00.810> so<00:12:01.580> running<00:12:02.580> simulations<00:12:02.910> we 00:12:03.110 --> 00:12:03.120 align:start position:0% around them so running simulations we 00:12:03.120 --> 00:12:04.610 align:start position:0% around them so running simulations we showed<00:12:03.300> that<00:12:03.420> over<00:12:03.540> a<00:12:03.660> two<00:12:03.900> month<00:12:03.930> period<00:12:04.170> of 00:12:04.610 --> 00:12:04.620 align:start position:0% showed that over a two month period of 00:12:04.620 --> 00:12:07.250 align:start position:0% showed that over a two month period of July<00:12:05.010> and<00:12:05.220> August<00:12:05.250> with<00:12:06.150> 100<00:12:06.630> each<00:12:06.780> principle 00:12:07.250 --> 00:12:07.260 align:start position:0% July and August with 100 each principle 00:12:07.260 --> 00:12:09.500 align:start position:0% July and August with 100 each principle you<00:12:07.680> would<00:12:07.770> have<00:12:07.860> produced<00:12:08.330> $35,000<00:12:09.330> in 00:12:09.500 --> 00:12:09.510 align:start position:0% you would have produced $35,000 in 00:12:09.510 --> 00:12:11.390 align:start position:0% you would have produced $35,000 in return<00:12:09.840> the<00:12:10.590> front-running<00:12:10.890> transaction<00:12:11.340> on 00:12:11.390 --> 00:12:11.400 align:start position:0% return the front-running transaction on 00:12:11.400 --> 00:12:13.070 align:start position:0% return the front-running transaction on the<00:12:11.430> main<00:12:11.610> assuming<00:12:12.030> that<00:12:12.180> you<00:12:12.450> know<00:12:12.540> that<00:12:12.750> the 00:12:13.070 --> 00:12:13.080 align:start position:0% the main assuming that you know that the 00:12:13.080 --> 00:12:14.480 align:start position:0% the main assuming that you know that the market<00:12:13.380> or<00:12:13.530> the<00:12:13.740> people<00:12:14.070> in<00:12:14.160> the<00:12:14.280> network 00:12:14.480 --> 00:12:14.490 align:start position:0% market or the people in the network 00:12:14.490 --> 00:12:16.490 align:start position:0% market or the people in the network didn't<00:12:14.670> react<00:12:14.880> which<00:12:15.720> is<00:12:15.810> greater<00:12:16.050> than<00:12:16.140> 100 00:12:16.490 --> 00:12:16.500 align:start position:0% didn't react which is greater than 100 00:12:16.500 --> 00:12:18.470 align:start position:0% didn't react which is greater than 100 percent<00:12:16.710> ROI<00:12:16.830> over<00:12:17.250> that<00:12:17.370> period<00:12:17.490> of<00:12:17.610> time<00:12:17.700> we 00:12:18.470 --> 00:12:18.480 align:start position:0% percent ROI over that period of time we 00:12:18.480 --> 00:12:20.300 align:start position:0% percent ROI over that period of time we also<00:12:18.600> showed<00:12:18.870> that<00:12:18.900> because<00:12:19.620> Bank<00:12:20.190> is<00:12:20.250> a 00:12:20.300 --> 00:12:20.310 align:start position:0% also showed that because Bank is a 00:12:20.310 --> 00:12:21.380 align:start position:0% also showed that because Bank is a protocol<00:12:20.640> that<00:12:20.700> can<00:12:20.850> be<00:12:20.910> used<00:12:21.060> by<00:12:21.180> many 00:12:21.380 --> 00:12:21.390 align:start position:0% protocol that can be used by many 00:12:21.390 --> 00:12:23.060 align:start position:0% protocol that can be used by many different<00:12:21.510> tokens<00:12:21.780> the<00:12:22.290> smaller<00:12:22.650> the<00:12:22.830> token 00:12:23.060 --> 00:12:23.070 align:start position:0% different tokens the smaller the token 00:12:23.070 --> 00:12:24.650 align:start position:0% different tokens the smaller the token mark<00:12:23.220> you<00:12:23.340> have<00:12:23.490> the<00:12:23.580> higher<00:12:23.790> your<00:12:23.820> ROI<00:12:24.390> would 00:12:24.650 --> 00:12:24.660 align:start position:0% mark you have the higher your ROI would 00:12:24.660 --> 00:12:26.660 align:start position:0% mark you have the higher your ROI would be<00:12:24.780> for<00:12:25.230> front-running<00:12:25.530> that<00:12:25.680> market<00:12:25.980> and<00:12:26.520> so 00:12:26.660 --> 00:12:26.670 align:start position:0% be for front-running that market and so 00:12:26.670 --> 00:12:28.370 align:start position:0% be for front-running that market and so if<00:12:26.880> there<00:12:27.240> were<00:12:27.300> a<00:12:27.360> large<00:12:27.600> number<00:12:27.660> of<00:12:27.960> tokens 00:12:28.370 --> 00:12:28.380 align:start position:0% if there were a large number of tokens 00:12:28.380 --> 00:12:29.420 align:start position:0% if there were a large number of tokens that<00:12:28.650> were<00:12:28.710> using<00:12:28.890> Bank<00:12:29.100> run<00:12:29.250> at<00:12:29.310> that<00:12:29.370> time 00:12:29.420 --> 00:12:29.430 align:start position:0% that were using Bank run at that time 00:12:29.430 --> 00:12:30.650 align:start position:0% that were using Bank run at that time you<00:12:29.970> would<00:12:30.030> have<00:12:30.150> been<00:12:30.240> able<00:12:30.300> to<00:12:30.420> make<00:12:30.600> even 00:12:30.650 --> 00:12:30.660 align:start position:0% you would have been able to make even 00:12:30.660 --> 00:12:33.170 align:start position:0% you would have been able to make even more<00:12:30.930> and<00:12:31.830> so<00:12:32.070> we<00:12:32.220> also<00:12:32.340> front<00:12:32.670> ran<00:12:32.820> a<00:12:32.940> single 00:12:33.170 --> 00:12:33.180 align:start position:0% more and so we also front ran a single 00:12:33.180 --> 00:12:34.460 align:start position:0% more and so we also front ran a single transaction<00:12:33.450> on<00:12:33.720> the<00:12:33.750> main<00:12:33.960> net<00:12:34.110> just<00:12:34.350> to 00:12:34.460 --> 00:12:34.470 align:start position:0% transaction on the main net just to 00:12:34.470 --> 00:12:36.260 align:start position:0% transaction on the main net just to prove<00:12:34.650> that<00:12:34.740> this<00:12:34.860> was<00:12:34.920> in<00:12:35.130> fact<00:12:35.160> doable<00:12:35.520> which 00:12:36.260 --> 00:12:36.270 align:start position:0% prove that this was in fact doable which 00:12:36.270 --> 00:12:37.970 align:start position:0% prove that this was in fact doable which we<00:12:36.420> did<00:12:36.600> we<00:12:37.020> returned<00:12:37.410> the<00:12:37.530> Delta<00:12:37.770> that<00:12:37.890> we 00:12:37.970 --> 00:12:37.980 align:start position:0% we did we returned the Delta that we 00:12:37.980 --> 00:12:39.140 align:start position:0% we did we returned the Delta that we made<00:12:38.130> to<00:12:38.310> the<00:12:38.340> person<00:12:38.670> who<00:12:38.760> originally<00:12:38.820> made 00:12:39.140 --> 00:12:39.150 align:start position:0% made to the person who originally made 00:12:39.150 --> 00:12:41.090 align:start position:0% made to the person who originally made the<00:12:39.240> transaction<00:12:39.540> and<00:12:39.870> then<00:12:40.230> didn't<00:12:40.710> run<00:12:40.890> any 00:12:41.090 --> 00:12:41.100 align:start position:0% the transaction and then didn't run any 00:12:41.100 --> 00:12:44.180 align:start position:0% the transaction and then didn't run any further<00:12:41.360> so<00:12:42.440> how<00:12:43.440> can<00:12:43.500> you<00:12:43.740> mitigate<00:12:43.920> this 00:12:44.180 --> 00:12:44.190 align:start position:0% further so how can you mitigate this 00:12:44.190 --> 00:12:45.620 align:start position:0% further so how can you mitigate this kind<00:12:44.400> of<00:12:44.430> attack<00:12:44.640> so<00:12:44.880> this<00:12:45.030> is<00:12:45.150> kind<00:12:45.570> of 00:12:45.620 --> 00:12:45.630 align:start position:0% kind of attack so this is kind of 00:12:45.630 --> 00:12:46.820 align:start position:0% kind of attack so this is kind of endemic<00:12:46.020> to<00:12:46.050> blockchains<00:12:46.500> but<00:12:46.680> there<00:12:46.770> are 00:12:46.820 --> 00:12:46.830 align:start position:0% endemic to blockchains but there are 00:12:46.830 --> 00:12:48.140 align:start position:0% endemic to blockchains but there are several<00:12:47.040> ways<00:12:47.160> to<00:12:47.250> try<00:12:47.370> to<00:12:47.430> mitigate<00:12:47.580> it<00:12:47.850> so 00:12:48.140 --> 00:12:48.150 align:start position:0% several ways to try to mitigate it so 00:12:48.150 --> 00:12:50.420 align:start position:0% several ways to try to mitigate it so one<00:12:48.600> thing<00:12:48.690> you<00:12:48.780> could<00:12:48.870> do<00:12:49.020> is<00:12:49.560> force<00:12:49.950> all<00:12:50.190> buys 00:12:50.420 --> 00:12:50.430 align:start position:0% one thing you could do is force all buys 00:12:50.430 --> 00:12:52.220 align:start position:0% one thing you could do is force all buys or<00:12:50.610> sells<00:12:50.640> to<00:12:51.060> specify<00:12:51.480> an<00:12:51.660> acceptable<00:12:52.080> price 00:12:52.220 --> 00:12:52.230 align:start position:0% or sells to specify an acceptable price 00:12:52.230 --> 00:12:54.230 align:start position:0% or sells to specify an acceptable price range<00:12:52.500> so<00:12:52.680> you<00:12:52.830> could<00:12:52.980> say<00:12:53.100> okay<00:12:53.430> I'll<00:12:53.820> I'll 00:12:54.230 --> 00:12:54.240 align:start position:0% range so you could say okay I'll I'll 00:12:54.240 --> 00:12:55.670 align:start position:0% range so you could say okay I'll I'll make<00:12:54.450> this<00:12:54.570> transaction<00:12:54.900> but<00:12:55.110> only<00:12:55.290> if<00:12:55.560> the 00:12:55.670 --> 00:12:55.680 align:start position:0% make this transaction but only if the 00:12:55.680 --> 00:12:57.800 align:start position:0% make this transaction but only if the price<00:12:55.830> offered<00:12:56.790> by<00:12:56.880> the<00:12:56.940> market<00:12:57.240> maker<00:12:57.390> is<00:12:57.630> P 00:12:57.800 --> 00:12:57.810 align:start position:0% price offered by the market maker is P 00:12:57.810 --> 00:12:59.630 align:start position:0% price offered by the market maker is P plus<00:12:57.990> or<00:12:58.200> minus<00:12:58.410> some<00:12:58.500> Epsilon<00:12:58.890> otherwise 00:12:59.630 --> 00:12:59.640 align:start position:0% plus or minus some Epsilon otherwise 00:12:59.640 --> 00:13:01.340 align:start position:0% plus or minus some Epsilon otherwise cancel<00:13:00.030> the<00:13:00.090> transaction<00:13:00.540> if<00:13:00.990> you<00:13:01.110> do<00:13:01.230> that 00:13:01.340 --> 00:13:01.350 align:start position:0% cancel the transaction if you do that 00:13:01.350 --> 00:13:02.570 align:start position:0% cancel the transaction if you do that this<00:13:01.530> can't<00:13:01.740> be<00:13:01.800> front<00:13:02.010> run<00:13:02.130> by<00:13:02.250> them 00:13:02.570 --> 00:13:02.580 align:start position:0% this can't be front run by them 00:13:02.580 --> 00:13:03.650 align:start position:0% this can't be front run by them the<00:13:02.730> users<00:13:02.970> because<00:13:03.029> you're<00:13:03.240> guaranteeing 00:13:03.650 --> 00:13:03.660 align:start position:0% the users because you're guaranteeing 00:13:03.660 --> 00:13:05.750 align:start position:0% the users because you're guaranteeing yourself<00:13:04.080> a<00:13:04.380> certain<00:13:04.589> price<00:13:04.980> however<00:13:05.580> this 00:13:05.750 --> 00:13:05.760 align:start position:0% yourself a certain price however this 00:13:05.760 --> 00:13:07.579 align:start position:0% yourself a certain price however this leaks<00:13:06.089> important<00:13:06.420> metadata<00:13:06.720> if<00:13:07.080> someone 00:13:07.579 --> 00:13:07.589 align:start position:0% leaks important metadata if someone 00:13:07.589 --> 00:13:08.900 align:start position:0% leaks important metadata if someone front-runs<00:13:07.950> you<00:13:08.070> and<00:13:08.279> then<00:13:08.370> your<00:13:08.459> transaction 00:13:08.900 --> 00:13:08.910 align:start position:0% front-runs you and then your transaction 00:13:08.910 --> 00:13:10.460 align:start position:0% front-runs you and then your transaction is<00:13:08.970> canceled<00:13:09.360> they<00:13:09.690> kind<00:13:09.930> of<00:13:10.019> know<00:13:10.170> let's<00:13:10.380> say 00:13:10.460 --> 00:13:10.470 align:start position:0% is canceled they kind of know let's say 00:13:10.470 --> 00:13:11.660 align:start position:0% is canceled they kind of know let's say you<00:13:10.500> were<00:13:10.649> gonna<00:13:10.769> buy<00:13:10.950> you<00:13:11.190> know<00:13:11.279> a<00:13:11.310> million 00:13:11.660 --> 00:13:11.670 align:start position:0% you were gonna buy you know a million 00:13:11.670 --> 00:13:13.670 align:start position:0% you were gonna buy you know a million bank<00:13:12.000> right<00:13:12.269> well<00:13:12.630> okay<00:13:12.660> maybe<00:13:13.230> your 00:13:13.670 --> 00:13:13.680 align:start position:0% bank right well okay maybe your 00:13:13.680 --> 00:13:14.750 align:start position:0% bank right well okay maybe your transaction<00:13:14.190> canceled<00:13:14.459> but<00:13:14.519> they<00:13:14.640> know 00:13:14.750 --> 00:13:14.760 align:start position:0% transaction canceled but they know 00:13:14.760 --> 00:13:15.860 align:start position:0% transaction canceled but they know someone's<00:13:15.120> trying<00:13:15.149> to<00:13:15.330> buy<00:13:15.390> a<00:13:15.420> million<00:13:15.720> Bank 00:13:15.860 --> 00:13:16.160 align:start position:0% someone's trying to buy a million Bank 00:13:16.160 --> 00:13:16.170 align:start position:0% 00:13:16.170 --> 00:13:17.570 align:start position:0% so<00:13:16.380> you<00:13:16.470> know<00:13:16.560> that<00:13:16.740> bank<00:13:17.130> card<00:13:17.279> is<00:13:17.339> gonna<00:13:17.430> go 00:13:17.570 --> 00:13:17.580 align:start position:0% so you know that bank card is gonna go 00:13:17.580 --> 00:13:19.040 align:start position:0% so you know that bank card is gonna go up<00:13:17.700> so<00:13:18.000> if<00:13:18.060> they<00:13:18.180> buy<00:13:18.420> a<00:13:18.450> bunch<00:13:18.660> of<00:13:18.720> banco<00:13:18.959> and 00:13:19.040 --> 00:13:19.050 align:start position:0% up so if they buy a bunch of banco and 00:13:19.050 --> 00:13:20.000 align:start position:0% up so if they buy a bunch of banco and they<00:13:19.110> know<00:13:19.230> eventually<00:13:19.500> you're<00:13:19.740> planning<00:13:19.980> to 00:13:20.000 --> 00:13:20.010 align:start position:0% they know eventually you're planning to 00:13:20.010 --> 00:13:21.740 align:start position:0% they know eventually you're planning to buy<00:13:20.190> they<00:13:20.910> know<00:13:21.120> that<00:13:21.269> they<00:13:21.329> can<00:13:21.480> just<00:13:21.630> wait 00:13:21.740 --> 00:13:21.750 align:start position:0% buy they know that they can just wait 00:13:21.750 --> 00:13:22.699 align:start position:0% buy they know that they can just wait for<00:13:21.870> your<00:13:21.959> buyer<00:13:22.110> to<00:13:22.140> come<00:13:22.290> in<00:13:22.410> and<00:13:22.529> then<00:13:22.620> they 00:13:22.699 --> 00:13:22.709 align:start position:0% for your buyer to come in and then they 00:13:22.709 --> 00:13:25.069 align:start position:0% for your buyer to come in and then they can<00:13:22.829> sell<00:13:23.010> so<00:13:23.820> there's<00:13:24.480> also<00:13:24.600> significant 00:13:25.069 --> 00:13:25.079 align:start position:0% can sell so there's also significant 00:13:25.079 --> 00:13:27.110 align:start position:0% can sell so there's also significant limits<00:13:25.649> your<00:13:25.709> throughput<00:13:26.040> so<00:13:26.160> if<00:13:26.310> if<00:13:26.579> lots<00:13:27.000> of 00:13:27.110 --> 00:13:27.120 align:start position:0% limits your throughput so if if lots of 00:13:27.120 --> 00:13:28.759 align:start position:0% limits your throughput so if if lots of transactions<00:13:27.630> are<00:13:27.720> happening<00:13:27.810> on<00:13:28.140> on<00:13:28.320> bank<00:13:28.620> or 00:13:28.759 --> 00:13:28.769 align:start position:0% transactions are happening on on bank or 00:13:28.769 --> 00:13:31.069 align:start position:0% transactions are happening on on bank or then<00:13:29.190> it's<00:13:29.370> very<00:13:29.550> hard<00:13:29.760> to<00:13:29.820> ascertain<00:13:30.149> how 00:13:31.069 --> 00:13:31.079 align:start position:0% then it's very hard to ascertain how 00:13:31.079 --> 00:13:33.079 align:start position:0% then it's very hard to ascertain how wide<00:13:31.410> that<00:13:31.620> epsilon<00:13:31.800> should<00:13:32.040> be<00:13:32.430> so<00:13:32.850> that<00:13:32.970> your 00:13:33.079 --> 00:13:33.089 align:start position:0% wide that epsilon should be so that your 00:13:33.089 --> 00:13:34.130 align:start position:0% wide that epsilon should be so that your transaction<00:13:33.600> doesn't<00:13:33.750> sort<00:13:33.959> of<00:13:34.050> get 00:13:34.130 --> 00:13:34.140 align:start position:0% transaction doesn't sort of get 00:13:34.140 --> 00:13:36.290 align:start position:0% transaction doesn't sort of get cancelled<00:13:34.500> and<00:13:34.620> occu<00:13:34.829> ously<00:13:35.070> right<00:13:35.430> so 00:13:36.290 --> 00:13:36.300 align:start position:0% cancelled and occu ously right so 00:13:36.300 --> 00:13:38.300 align:start position:0% cancelled and occu ously right so otherwise<00:13:37.140> you<00:13:37.320> just<00:13:37.560> have<00:13:37.709> to<00:13:37.829> accept<00:13:38.070> some 00:13:38.300 --> 00:13:38.310 align:start position:0% otherwise you just have to accept some 00:13:38.310 --> 00:13:40.009 align:start position:0% otherwise you just have to accept some margin<00:13:38.610> of<00:13:38.730> front-running<00:13:39.300> that<00:13:39.720> you're<00:13:39.839> okay 00:13:40.009 --> 00:13:40.019 align:start position:0% margin of front-running that you're okay 00:13:40.019 --> 00:13:41.600 align:start position:0% margin of front-running that you're okay with<00:13:40.170> if<00:13:40.320> that<00:13:40.470> epsilon<00:13:40.620> you<00:13:41.010> know<00:13:41.100> ideal 00:13:41.600 --> 00:13:41.610 align:start position:0% with if that epsilon you know ideal 00:13:41.610 --> 00:13:43.220 align:start position:0% with if that epsilon you know ideal obviously<00:13:42.240> if<00:13:42.329> you're<00:13:42.450> buying<00:13:42.600> you're<00:13:43.019> okay 00:13:43.220 --> 00:13:43.230 align:start position:0% obviously if you're buying you're okay 00:13:43.230 --> 00:13:44.030 align:start position:0% obviously if you're buying you're okay with<00:13:43.320> the<00:13:43.410> price<00:13:43.529> going<00:13:43.680> down<00:13:43.860> but<00:13:44.010> you 00:13:44.030 --> 00:13:44.040 align:start position:0% with the price going down but you 00:13:44.040 --> 00:13:45.920 align:start position:0% with the price going down but you wouldn't<00:13:44.250> to<00:13:44.370> go<00:13:44.459> out<00:13:44.610> so<00:13:45.510> it's<00:13:45.630> not<00:13:45.720> a<00:13:45.779> great 00:13:45.920 --> 00:13:45.930 align:start position:0% wouldn't to go out so it's not a great 00:13:45.930 --> 00:13:47.380 align:start position:0% wouldn't to go out so it's not a great compromise<00:13:46.140> but<00:13:46.470> it<00:13:46.529> is<00:13:46.620> better<00:13:46.740> than<00:13:46.890> nothing 00:13:47.380 --> 00:13:47.390 align:start position:0% compromise but it is better than nothing 00:13:47.390 --> 00:13:49.460 align:start position:0% compromise but it is better than nothing however<00:13:48.390> what<00:13:48.630> you<00:13:48.720> can<00:13:48.899> do<00:13:49.050> is<00:13:49.110> you<00:13:49.170> can<00:13:49.260> set<00:13:49.440> a 00:13:49.460 --> 00:13:49.470 align:start position:0% however what you can do is you can set a 00:13:49.470 --> 00:13:51.050 align:start position:0% however what you can do is you can set a maximum<00:13:49.560> allowable<00:13:50.010> gas<00:13:50.519> price<00:13:50.820> for<00:13:51.000> the 00:13:51.050 --> 00:13:51.060 align:start position:0% maximum allowable gas price for the 00:13:51.060 --> 00:13:52.430 align:start position:0% maximum allowable gas price for the contract<00:13:51.510> so<00:13:51.750> essentially<00:13:51.990> what<00:13:52.140> that<00:13:52.260> does 00:13:52.430 --> 00:13:52.440 align:start position:0% contract so essentially what that does 00:13:52.440 --> 00:13:53.990 align:start position:0% contract so essentially what that does is<00:13:52.589> it<00:13:52.649> puts<00:13:52.800> an<00:13:52.920> upper<00:13:53.160> limit<00:13:53.279> on<00:13:53.519> what<00:13:53.850> people 00:13:53.990 --> 00:13:54.000 align:start position:0% is it puts an upper limit on what people 00:13:54.000 --> 00:13:55.639 align:start position:0% is it puts an upper limit on what people are<00:13:54.180> allowed<00:13:54.390> to<00:13:54.450> pay<00:13:54.779> to<00:13:55.170> try<00:13:55.320> to<00:13:55.380> get<00:13:55.529> in 00:13:55.639 --> 00:13:55.649 align:start position:0% are allowed to pay to try to get in 00:13:55.649 --> 00:13:57.680 align:start position:0% are allowed to pay to try to get in front<00:13:55.800> of<00:13:55.860> line<00:13:56.040> of<00:13:56.250> each<00:13:56.399> other<00:13:56.670> right<00:13:56.940> this 00:13:57.680 --> 00:13:57.690 align:start position:0% front of line of each other right this 00:13:57.690 --> 00:13:59.600 align:start position:0% front of line of each other right this is<00:13:58.079> nice<00:13:58.200> because<00:13:58.470> it<00:13:58.589> can't<00:13:59.130> be<00:13:59.220> fronted<00:13:59.579> by 00:13:59.600 --> 00:13:59.610 align:start position:0% is nice because it can't be fronted by 00:13:59.610 --> 00:14:01.130 align:start position:0% is nice because it can't be fronted by users<00:13:59.940> however<00:14:00.360> it's<00:14:00.540> still<00:14:00.660> vulnerable<00:14:00.899> to 00:14:01.130 --> 00:14:01.140 align:start position:0% users however it's still vulnerable to 00:14:01.140 --> 00:14:02.600 align:start position:0% users however it's still vulnerable to minor<00:14:01.350> front-running<00:14:01.709> cuz<00:14:01.890> minor<00:14:02.040> can<00:14:02.250> do<00:14:02.339> - 00:14:02.600 --> 00:14:02.610 align:start position:0% minor front-running cuz minor can do - 00:14:02.610 --> 00:14:04.220 align:start position:0% minor front-running cuz minor can do - can<00:14:02.700> do<00:14:02.760> whatever<00:14:02.880> they<00:14:03.029> want<00:14:03.060> it's<00:14:03.779> not<00:14:03.930> it's 00:14:04.220 --> 00:14:04.230 align:start position:0% can do whatever they want it's not it's 00:14:04.230 --> 00:14:05.269 align:start position:0% can do whatever they want it's not it's not<00:14:04.350> really<00:14:04.560> you<00:14:04.649> know<00:14:04.680> they're<00:14:04.860> not<00:14:04.920> beholden 00:14:05.269 --> 00:14:05.279 align:start position:0% not really you know they're not beholden 00:14:05.279 --> 00:14:08.780 align:start position:0% not really you know they're not beholden to<00:14:05.630> accepting<00:14:06.630> these<00:14:06.720> rules<00:14:07.040> so<00:14:08.040> it's<00:14:08.640> also 00:14:08.780 --> 00:14:08.790 align:start position:0% to accepting these rules so it's also 00:14:08.790 --> 00:14:10.100 align:start position:0% to accepting these rules so it's also vulnerable<00:14:08.940> to<00:14:09.180> transaction<00:14:09.720> flooding<00:14:09.990> by 00:14:10.100 --> 00:14:10.110 align:start position:0% vulnerable to transaction flooding by 00:14:10.110 --> 00:14:11.510 align:start position:0% vulnerable to transaction flooding by malicious<00:14:10.500> users<00:14:10.740> but<00:14:11.130> this<00:14:11.220> is<00:14:11.279> expensive 00:14:11.510 --> 00:14:11.520 align:start position:0% malicious users but this is expensive 00:14:11.520 --> 00:14:12.889 align:start position:0% malicious users but this is expensive and<00:14:11.730> difficult<00:14:11.850> in<00:14:12.149> practice<00:14:12.450> and<00:14:12.600> not<00:14:12.630> really 00:14:12.889 --> 00:14:12.899 align:start position:0% and difficult in practice and not really 00:14:12.899 --> 00:14:14.780 align:start position:0% and difficult in practice and not really something<00:14:13.140> that<00:14:13.230> people<00:14:13.290> have<00:14:13.560> seen<00:14:13.770> so<00:14:14.640> this 00:14:14.780 --> 00:14:14.790 align:start position:0% something that people have seen so this 00:14:14.790 --> 00:14:15.860 align:start position:0% something that people have seen so this is<00:14:14.850> a<00:14:14.880> solution<00:14:15.029> that<00:14:15.209> bank<00:14:15.420> or<00:14:15.540> settle<00:14:15.779> on 00:14:15.860 --> 00:14:15.870 align:start position:0% is a solution that bank or settle on 00:14:15.870 --> 00:14:17.660 align:start position:0% is a solution that bank or settle on it's<00:14:16.079> a<00:14:16.140> decent<00:14:16.500> compromise<00:14:16.709> between<00:14:17.070> you<00:14:17.250> and 00:14:17.660 --> 00:14:17.670 align:start position:0% it's a decent compromise between you and 00:14:17.670 --> 00:14:19.190 align:start position:0% it's a decent compromise between you and security<00:14:18.029> everything<00:14:18.630> so<00:14:18.720> happens<00:14:18.990> in<00:14:19.050> one 00:14:19.190 --> 00:14:19.200 align:start position:0% security everything so happens in one 00:14:19.200 --> 00:14:20.810 align:start position:0% security everything so happens in one transaction<00:14:19.470> just<00:14:19.980> a<00:14:20.070> few<00:14:20.250> extra<00:14:20.459> parameters 00:14:20.810 --> 00:14:20.820 align:start position:0% transaction just a few extra parameters 00:14:20.820 --> 00:14:23.120 align:start position:0% transaction just a few extra parameters you<00:14:20.910> have<00:14:20.940> to<00:14:21.060> send<00:14:21.270> out<00:14:21.589> now<00:14:22.589> the<00:14:22.649> ideal 00:14:23.120 --> 00:14:23.130 align:start position:0% you have to send out now the ideal 00:14:23.130 --> 00:14:24.410 align:start position:0% you have to send out now the ideal solution<00:14:23.579> would<00:14:23.610> be<00:14:23.700> some<00:14:23.940> form<00:14:23.970> of<00:14:24.180> commit 00:14:24.410 --> 00:14:24.420 align:start position:0% solution would be some form of commit 00:14:24.420 --> 00:14:26.900 align:start position:0% solution would be some form of commit reveal<00:14:24.690> so<00:14:25.589> in<00:14:25.800> a<00:14:25.890> commit<00:14:26.070> reveal<00:14:26.310> these<00:14:26.790> are 00:14:26.900 --> 00:14:26.910 align:start position:0% reveal so in a commit reveal these are 00:14:26.910 --> 00:14:28.550 align:start position:0% reveal so in a commit reveal these are well<00:14:27.000> known<00:14:27.149> for<00:14:27.300> voting<00:14:27.450> schemes<00:14:27.779> in<00:14:28.440> a 00:14:28.550 --> 00:14:28.560 align:start position:0% well known for voting schemes in a 00:14:28.560 --> 00:14:30.440 align:start position:0% well known for voting schemes in a commit<00:14:28.740> reveal<00:14:28.980> you<00:14:29.339> first<00:14:29.579> commit<00:14:29.910> to<00:14:30.149> the 00:14:30.440 --> 00:14:30.450 align:start position:0% commit reveal you first commit to the 00:14:30.450 --> 00:14:32.210 align:start position:0% commit reveal you first commit to the trans<00:14:30.660> actually<00:14:30.899> going<00:14:31.020> to<00:14:31.079> make<00:14:31.200> by<00:14:31.440> sending 00:14:32.210 --> 00:14:32.220 align:start position:0% trans actually going to make by sending 00:14:32.220 --> 00:14:33.380 align:start position:0% trans actually going to make by sending a<00:14:32.279> hash<00:14:32.459> of<00:14:32.610> the<00:14:32.730> transaction<00:14:33.120> plus<00:14:33.270> some 00:14:33.380 --> 00:14:33.390 align:start position:0% a hash of the transaction plus some 00:14:33.390 --> 00:14:35.120 align:start position:0% a hash of the transaction plus some nonce<00:14:33.570> then<00:14:34.140> you<00:14:34.230> reveal<00:14:34.560> the<00:14:34.589> transaction 00:14:35.120 --> 00:14:35.130 align:start position:0% nonce then you reveal the transaction 00:14:35.130 --> 00:14:36.069 align:start position:0% nonce then you reveal the transaction announced<00:14:35.339> in<00:14:35.459> a<00:14:35.520> subsequent<00:14:35.730> block 00:14:36.069 --> 00:14:36.079 align:start position:0% announced in a subsequent block 00:14:36.079 --> 00:14:37.850 align:start position:0% announced in a subsequent block unfortunately<00:14:37.079> for<00:14:37.230> a<00:14:37.260> commit<00:14:37.500> reveal<00:14:37.709> to 00:14:37.850 --> 00:14:37.860 align:start position:0% unfortunately for a commit reveal to 00:14:37.860 --> 00:14:39.889 align:start position:0% unfortunately for a commit reveal to work<00:14:38.040> it<00:14:38.220> has<00:14:38.339> to<00:14:38.370> span<00:14:38.730> multiple<00:14:38.970> blocks<00:14:39.450> to 00:14:39.889 --> 00:14:39.899 align:start position:0% work it has to span multiple blocks to 00:14:39.899 --> 00:14:41.480 align:start position:0% work it has to span multiple blocks to actually<00:14:40.260> make<00:14:40.410> a<00:14:40.440> trade<00:14:40.709> so<00:14:41.070> this<00:14:41.220> is<00:14:41.310> kind<00:14:41.459> of 00:14:41.480 --> 00:14:41.490 align:start position:0% actually make a trade so this is kind of 00:14:41.490 --> 00:14:42.740 align:start position:0% actually make a trade so this is kind of undesirable<00:14:42.029> right<00:14:42.209> like<00:14:42.360> you<00:14:42.480> know<00:14:42.510> in 00:14:42.740 --> 00:14:42.750 align:start position:0% undesirable right like you know in 00:14:42.750 --> 00:14:44.090 align:start position:0% undesirable right like you know in Spanish<00:14:43.050> two<00:14:43.230> blocks<00:14:43.470> things<00:14:43.829> can<00:14:44.070> change 00:14:44.090 --> 00:14:44.100 align:start position:0% Spanish two blocks things can change 00:14:44.100 --> 00:14:46.790 align:start position:0% Spanish two blocks things can change it's<00:14:44.610> just<00:14:44.790> kind<00:14:44.910> of<00:14:44.940> a<00:14:45.029> slow<00:14:45.209> crappy<00:14:45.510> UX<00:14:45.800> but 00:14:46.790 --> 00:14:46.800 align:start position:0% it's just kind of a slow crappy UX but 00:14:46.800 --> 00:14:48.319 align:start position:0% it's just kind of a slow crappy UX but this<00:14:46.949> is<00:14:47.100> the<00:14:47.190> safest<00:14:47.459> scheme<00:14:47.699> now<00:14:48.029> doing<00:14:48.270> this 00:14:48.319 --> 00:14:48.329 align:start position:0% this is the safest scheme now doing this 00:14:48.329 --> 00:14:50.269 align:start position:0% this is the safest scheme now doing this naively<00:14:48.810> is<00:14:49.050> still<00:14:49.649> vulnerable<00:14:49.800> to<00:14:50.070> certain 00:14:50.269 --> 00:14:50.279 align:start position:0% naively is still vulnerable to certain 00:14:50.279 --> 00:14:52.460 align:start position:0% naively is still vulnerable to certain attacks<00:14:50.640> so<00:14:51.480> Submarine<00:14:51.870> sense<00:14:52.079> was<00:14:52.260> actually 00:14:52.460 --> 00:14:52.470 align:start position:0% attacks so Submarine sense was actually 00:14:52.470 --> 00:14:54.260 align:start position:0% attacks so Submarine sense was actually worked<00:14:52.620> on<00:14:52.680> by<00:14:52.829> lawrence<00:14:53.640> Breitenbach<00:14:53.940> phil 00:14:54.260 --> 00:14:54.270 align:start position:0% worked on by lawrence Breitenbach phil 00:14:54.270 --> 00:14:56.930 align:start position:0% worked on by lawrence Breitenbach phil diane<00:14:54.630> ora<00:14:54.899> jewels<00:14:55.350> and<00:14:55.620> florian<00:14:56.250> tremor<00:14:56.579> but 00:14:56.930 --> 00:14:56.940 align:start position:0% diane ora jewels and florian tremor but 00:14:56.940 --> 00:14:57.829 align:start position:0% diane ora jewels and florian tremor but were<00:14:57.060> they<00:14:57.180> proposed<00:14:57.480> a<00:14:57.540> scheme<00:14:57.720> for 00:14:57.829 --> 00:14:57.839 align:start position:0% were they proposed a scheme for 00:14:57.839 --> 00:14:58.970 align:start position:0% were they proposed a scheme for accomplishing<00:14:58.230> this<00:14:58.440> securely 00:14:58.970 --> 00:14:58.980 align:start position:0% accomplishing this securely 00:14:58.980 --> 00:15:00.829 align:start position:0% accomplishing this securely which<00:14:59.699> is<00:14:59.850> which<00:15:00.060> is<00:15:00.089> a<00:15:00.209> lot<00:15:00.420> easier<00:15:00.630> with<00:15:00.779> the 00:15:00.829 --> 00:15:00.839 align:start position:0% which is which is a lot easier with the 00:15:00.839 --> 00:15:03.500 align:start position:0% which is which is a lot easier with the create<00:15:01.079> to<00:15:01.230> opcode<00:15:01.649> which<00:15:02.310> is<00:15:02.430> offered<00:15:03.060> by<00:15:03.089> EAP 00:15:03.500 --> 00:15:03.510 align:start position:0% create to opcode which is offered by EAP 00:15:03.510 --> 00:15:05.060 align:start position:0% create to opcode which is offered by EAP 86<00:15:03.899> which<00:15:04.019> is<00:15:04.140> not<00:15:04.290> gonna<00:15:04.740> come<00:15:04.949> out<00:15:05.010> in 00:15:05.060 --> 00:15:05.070 align:start position:0% 86 which is not gonna come out in 00:15:05.070 --> 00:15:06.800 align:start position:0% 86 which is not gonna come out in metropolis<00:15:05.550> unfortunately<00:15:06.000> so<00:15:06.570> we're<00:15:06.690> still 00:15:06.800 --> 00:15:06.810 align:start position:0% metropolis unfortunately so we're still 00:15:06.810 --> 00:15:08.240 align:start position:0% metropolis unfortunately so we're still waiting<00:15:06.899> on<00:15:07.079> that<00:15:07.170> we're<00:15:07.740> also<00:15:07.860> exploring 00:15:08.240 --> 00:15:08.250 align:start position:0% waiting on that we're also exploring 00:15:08.250 --> 00:15:09.590 align:start position:0% waiting on that we're also exploring other<00:15:08.519> practical<00:15:08.910> commits<00:15:09.180> reveal<00:15:09.360> schemes 00:15:09.590 --> 00:15:09.600 align:start position:0% other practical commits reveal schemes 00:15:09.600 --> 00:15:10.809 align:start position:0% other practical commits reveal schemes that<00:15:09.750> are<00:15:09.810> possible<00:15:10.199> with 00:15:10.809 --> 00:15:10.819 align:start position:0% that are possible with 00:15:10.819 --> 00:15:13.329 align:start position:0% that are possible with with<00:15:10.939> current<00:15:11.209> op<00:15:11.329> codes<00:15:11.539> so<00:15:12.139> that<00:15:12.709> is<00:15:13.129> front 00:15:13.329 --> 00:15:13.339 align:start position:0% with current op codes so that is front 00:15:13.339 --> 00:15:15.460 align:start position:0% with current op codes so that is front running<00:15:13.489> there<00:15:13.669> was<00:15:13.759> me<00:15:13.879> me<00:15:14.689> prithi<00:15:15.109> Ivonne 00:15:15.460 --> 00:15:15.470 align:start position:0% running there was me me prithi Ivonne 00:15:15.470 --> 00:15:17.079 align:start position:0% running there was me me prithi Ivonne social<00:15:16.009> thanks<00:15:16.189> to<00:15:16.249> re<00:15:16.399> Jules<00:15:16.729> Ito<00:15:16.939> been 00:15:17.079 --> 00:15:17.089 align:start position:0% social thanks to re Jules Ito been 00:15:17.089 --> 00:15:18.460 align:start position:0% social thanks to re Jules Ito been Tawfik<00:15:17.389> Karl<00:15:17.569> flourish<00:15:17.839> for<00:15:18.019> helping<00:15:18.229> us<00:15:18.319> the 00:15:18.460 --> 00:15:18.470 align:start position:0% Tawfik Karl flourish for helping us the 00:15:18.470 --> 00:15:22.070 align:start position:0% Tawfik Karl flourish for helping us the research<00:15:18.769> and<00:15:18.979> of<00:15:19.339> course<00:15:19.549> to<00:15:19.669> ic3<00:15:20.319> Thanks 00:15:22.070 --> 00:15:22.080 align:start position:0% research and of course to ic3 Thanks 00:15:22.080 --> 00:15:27.569 align:start position:0% research and of course to ic3 Thanks [Applause] 00:15:27.569 --> 00:15:27.579 align:start position:0% [Applause] 00:15:27.579 --> 00:15:29.260 align:start position:0% [Applause] thanks<00:15:28.579> guys 00:15:29.260 --> 00:15:29.270 align:start position:0% thanks guys 00:15:29.270 --> 00:15:36.850 align:start position:0% thanks guys [Music]