WEBVTT Kind: captions Language: en 00:00:04.760 --> 00:00:07.420 align:start position:0% I'm<00:00:05.540> Chris<00:00:05.870> I<00:00:06.110> work<00:00:06.440> from<00:00:07.069> tournament 00:00:07.420 --> 00:00:07.430 align:start position:0% I'm Chris I work from tournament 00:00:07.430 --> 00:00:08.890 align:start position:0% I'm Chris I work from tournament research<00:00:07.700> and<00:00:08.000> I'm<00:00:08.120> going<00:00:08.330> to<00:00:08.420> talk<00:00:08.600> a<00:00:08.630> bit 00:00:08.890 --> 00:00:08.900 align:start position:0% research and I'm going to talk a bit 00:00:08.900 --> 00:00:10.240 align:start position:0% research and I'm going to talk a bit about<00:00:08.930> and<00:00:09.410> I'll<00:00:09.469> explain<00:00:09.799> what<00:00:09.950> the<00:00:10.070> terms 00:00:10.240 --> 00:00:10.250 align:start position:0% about and I'll explain what the terms 00:00:10.250 --> 00:00:11.950 align:start position:0% about and I'll explain what the terms mean<00:00:10.370> don't<00:00:10.730> worry<00:00:10.969> interblock<00:00:11.690> team 00:00:11.950 --> 00:00:11.960 align:start position:0% mean don't worry interblock team 00:00:11.960 --> 00:00:14.080 align:start position:0% mean don't worry interblock team communication<00:00:12.559> and<00:00:12.799> the<00:00:13.219> topology<00:00:13.520> of<00:00:13.969> the 00:00:14.080 --> 00:00:14.090 align:start position:0% communication and the topology of the 00:00:14.090 --> 00:00:16.510 align:start position:0% communication and the topology of the inter<00:00:14.330> chain<00:00:14.510> the<00:00:15.379> polycentric<00:00:15.889> inter<00:00:16.280> chain 00:00:16.510 --> 00:00:16.520 align:start position:0% inter chain the polycentric inter chain 00:00:16.520 --> 00:00:20.590 align:start position:0% inter chain the polycentric inter chain is<00:00:17.000> already<00:00:17.420> here<00:00:17.779> let's<00:00:18.220> unpack<00:00:19.220> this<00:00:19.520> in<00:00:19.910> the 00:00:20.590 --> 00:00:20.600 align:start position:0% is already here let's unpack this in the 00:00:20.600 --> 00:00:22.570 align:start position:0% is already here let's unpack this in the past<00:00:20.779> few<00:00:20.990> years<00:00:21.320> we've<00:00:21.560> seen<00:00:21.830> what<00:00:22.220> I<00:00:22.250> like<00:00:22.429> to 00:00:22.570 --> 00:00:22.580 align:start position:0% past few years we've seen what I like to 00:00:22.580 --> 00:00:24.909 align:start position:0% past few years we've seen what I like to call<00:00:22.789> a<00:00:22.820> Cambrian<00:00:23.509> explosion<00:00:23.679> of<00:00:24.679> black 00:00:24.909 --> 00:00:24.919 align:start position:0% call a Cambrian explosion of black 00:00:24.919 --> 00:00:28.239 align:start position:0% call a Cambrian explosion of black chains<00:00:25.779> it's<00:00:26.779> continuing<00:00:27.320> even<00:00:27.470> more<00:00:27.769> several 00:00:28.239 --> 00:00:28.249 align:start position:0% chains it's continuing even more several 00:00:28.249 --> 00:00:29.499 align:start position:0% chains it's continuing even more several new<00:00:28.369> protocols<00:00:28.820> were<00:00:28.970> announced<00:00:29.300> of<00:00:29.390> this 00:00:29.499 --> 00:00:29.509 align:start position:0% new protocols were announced of this 00:00:29.509 --> 00:00:32.499 align:start position:0% new protocols were announced of this event<00:00:30.279> one<00:00:31.279> hypothesis<00:00:31.939> says<00:00:32.119> that<00:00:32.419> these 00:00:32.499 --> 00:00:32.509 align:start position:0% event one hypothesis says that these 00:00:32.509 --> 00:00:35.350 align:start position:0% event one hypothesis says that these block<00:00:32.810> chains<00:00:33.110> will<00:00:33.470> be<00:00:34.370> selected<00:00:34.880> out<00:00:34.970> and 00:00:35.350 --> 00:00:35.360 align:start position:0% block chains will be selected out and 00:00:35.360 --> 00:00:38.350 align:start position:0% block chains will be selected out and slowly<00:00:35.990> converged<00:00:36.560> to<00:00:36.860> a<00:00:36.890> few<00:00:37.360> single 00:00:38.350 --> 00:00:38.360 align:start position:0% slowly converged to a few single 00:00:38.360 --> 00:00:40.060 align:start position:0% slowly converged to a few single Ledger's<00:00:38.719> which<00:00:39.170> handle<00:00:39.530> all<00:00:39.649> of<00:00:39.680> the<00:00:39.860> state 00:00:40.060 --> 00:00:40.070 align:start position:0% Ledger's which handle all of the state 00:00:40.070 --> 00:00:41.500 align:start position:0% Ledger's which handle all of the state transitions<00:00:40.610> all<00:00:40.910> of<00:00:41.000> the<00:00:41.120> currency 00:00:41.500 --> 00:00:41.510 align:start position:0% transitions all of the currency 00:00:41.510 --> 00:00:44.920 align:start position:0% transitions all of the currency transactions<00:00:42.289> all<00:00:42.590> of<00:00:43.160> the<00:00:43.280> future<00:00:43.930> complex 00:00:44.920 --> 00:00:44.930 align:start position:0% transactions all of the future complex 00:00:44.930 --> 00:00:47.369 align:start position:0% transactions all of the future complex decentralized<00:00:45.829> financial<00:00:46.340> protocols<00:00:46.760> etc 00:00:47.369 --> 00:00:47.379 align:start position:0% decentralized financial protocols etc 00:00:47.379 --> 00:00:50.799 align:start position:0% decentralized financial protocols etc perhaps<00:00:48.640> but<00:00:49.640> another<00:00:49.879> hypothesis<00:00:50.539> says<00:00:50.780> that 00:00:50.799 --> 00:00:50.809 align:start position:0% perhaps but another hypothesis says that 00:00:50.809 --> 00:00:53.110 align:start position:0% perhaps but another hypothesis says that the<00:00:51.620> interchange<00:00:52.129> will<00:00:52.250> continue<00:00:52.730> to<00:00:52.879> branch 00:00:53.110 --> 00:00:53.120 align:start position:0% the interchange will continue to branch 00:00:53.120 --> 00:00:55.360 align:start position:0% the interchange will continue to branch out<00:00:53.359> words<00:00:53.660> that<00:00:54.530> new<00:00:54.680> protocols<00:00:55.190> will 00:00:55.360 --> 00:00:55.370 align:start position:0% out words that new protocols will 00:00:55.370 --> 00:00:57.009 align:start position:0% out words that new protocols will continue<00:00:55.760> to<00:00:55.879> be<00:00:56.000> built<00:00:56.179> which<00:00:56.840> can 00:00:57.009 --> 00:00:57.019 align:start position:0% continue to be built which can 00:00:57.019 --> 00:00:58.509 align:start position:0% continue to be built which can specialize<00:00:57.559> on<00:00:57.800> different<00:00:58.039> sorts<00:00:58.250> of<00:00:58.340> use 00:00:58.509 --> 00:00:58.519 align:start position:0% specialize on different sorts of use 00:00:58.519 --> 00:01:00.910 align:start position:0% specialize on different sorts of use cases<00:00:58.760> that<00:00:59.600> new<00:00:59.780> assets<00:01:00.230> will<00:01:00.410> continue<00:01:00.800> to 00:01:00.910 --> 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can retain its logical<00:01:07.700> identity<00:01:08.210> while<00:01:08.720> living<00:01:08.990> on<00:01:09.200> a 00:01:09.250 --> 00:01:09.260 align:start position:0% logical identity while living on a 00:01:09.260 --> 00:01:11.400 align:start position:0% logical identity while living on a different<00:01:09.470> and<00:01:10.160> perhaps<00:01:10.310> improved<00:01:10.880> protocol 00:01:11.400 --> 00:01:11.410 align:start position:0% different and perhaps improved protocol 00:01:11.410 --> 00:01:13.540 align:start position:0% different and perhaps improved protocol that's<00:01:12.410> what<00:01:12.590> I<00:01:12.620> mean<00:01:12.800> by<00:01:12.950> the<00:01:13.010> interchange 00:01:13.540 --> 00:01:13.550 align:start position:0% that's what I mean by the interchange 00:01:13.550 --> 00:01:17.140 align:start position:0% that's what I mean by the interchange this<00:01:14.090> set<00:01:14.300> of<00:01:14.420> Ledger's<00:01:14.780> fulfilling<00:01:15.530> a<00:01:16.030> set<00:01:17.030> of 00:01:17.140 --> 00:01:17.150 align:start position:0% this set of Ledger's fulfilling a set of 00:01:17.150 --> 00:01:22.180 align:start position:0% this set of Ledger's fulfilling a set of different<00:01:17.420> use<00:01:17.630> cases<00:01:19.990> why<00:01:20.990> might<00:01:21.890> we<00:01:21.920> want 00:01:22.180 --> 00:01:22.190 align:start position:0% different use cases why might we want 00:01:22.190 --> 00:01:27.370 align:start position:0% different use cases why might we want this<00:01:24.940> there<00:01:25.940> are<00:01:26.120> a<00:01:26.210> lot<00:01:26.360> of<00:01:26.390> advantages<00:01:26.600> to 00:01:27.370 --> 00:01:27.380 align:start position:0% this there are a lot of advantages to 00:01:27.380 --> 00:01:30.070 align:start position:0% this there are a lot of advantages to having<00:01:27.920> separate<00:01:28.850> block<00:01:29.120> chains<00:01:29.420> as<00:01:29.750> opposed 00:01:30.070 --> 00:01:30.080 align:start position:0% having separate block chains as opposed 00:01:30.080 --> 00:01:32.860 align:start position:0% having separate block chains as opposed to<00:01:30.260> a<00:01:30.290> few<00:01:30.530> single<00:01:30.920> ones<00:01:31.390> one<00:01:32.390> advantage<00:01:32.690> is 00:01:32.860 --> 00:01:32.870 align:start position:0% to a few single ones one advantage is 00:01:32.870 --> 00:01:35.200 align:start position:0% to a few single ones one advantage is versatility<00:01:33.490> different<00:01:34.490> protocols<00:01:34.940> can 00:01:35.200 --> 00:01:35.210 align:start position:0% versatility different protocols can 00:01:35.210 --> 00:01:37.030 align:start position:0% versatility different protocols can focus<00:01:35.420> on<00:01:35.660> two<00:01:35.750> different<00:01:36.020> use<00:01:36.170> cases<00:01:36.410> they 00:01:37.030 --> 00:01:37.040 align:start position:0% focus on two different use cases they 00:01:37.040 --> 00:01:38.970 align:start position:0% focus on two different use cases they can<00:01:37.220> optimize<00:01:37.670> their<00:01:37.940> state<00:01:38.150> machines 00:01:38.970 --> 00:01:38.980 align:start position:0% can optimize their state machines 00:01:38.980 --> 00:01:41.320 align:start position:0% can optimize their state machines optimize<00:01:39.980> their<00:01:40.220> educational<00:01:40.790> materials 00:01:41.320 --> 00:01:41.330 align:start position:0% optimize their educational materials 00:01:41.330 --> 00:01:43.510 align:start position:0% optimize their educational materials focus<00:01:41.900> their<00:01:42.050> community<00:01:42.530> focus<00:01:43.310> their 00:01:43.510 --> 00:01:43.520 align:start position:0% focus their community focus their 00:01:43.520 --> 00:01:44.950 align:start position:0% focus their community focus their onboarding<00:01:44.150> focus<00:01:44.510> their<00:01:44.630> user<00:01:44.840> experience 00:01:44.950 --> 00:01:44.960 align:start position:0% onboarding focus their user experience 00:01:44.960 --> 00:01:48.520 align:start position:0% onboarding focus their user experience on<00:01:45.800> solving<00:01:46.460> certain<00:01:47.240> specific<00:01:48.080> problems 00:01:48.520 --> 00:01:48.530 align:start position:0% on solving certain specific problems 00:01:48.530 --> 00:01:50.710 align:start position:0% on solving certain specific problems really<00:01:48.830> well<00:01:49.160> as<00:01:49.460> opposed<00:01:50.090> to<00:01:50.150> solving<00:01:50.510> a<00:01:50.570> lot 00:01:50.710 --> 00:01:50.720 align:start position:0% really well as opposed to solving a lot 00:01:50.720 --> 00:01:56.770 align:start position:0% really well as opposed to solving a lot of<00:01:50.780> problems<00:01:52.120> not<00:01:53.120> so<00:01:53.210> great<00:01:55.420> this<00:01:56.420> applies 00:01:56.770 --> 00:01:56.780 align:start position:0% of problems not so great this applies 00:01:56.780 --> 00:01:59.080 align:start position:0% of problems not so great this applies not<00:01:56.810> only<00:01:57.140> to<00:01:57.440> the<00:01:57.800> case<00:01:57.980> of<00:01:58.250> simply<00:01:58.700> building 00:01:59.080 --> 00:01:59.090 align:start position:0% not only to the case of simply building 00:01:59.090 --> 00:02:00.520 align:start position:0% not only to the case of simply building a<00:01:59.150> protocol<00:01:59.540> but<00:01:59.780> also<00:01:59.930> to<00:02:00.050> the<00:02:00.200> case<00:02:00.380> of 00:02:00.520 --> 00:02:00.530 align:start position:0% a protocol but also to the case of 00:02:00.530 --> 00:02:03.340 align:start position:0% a protocol but also to the case of governing<00:02:00.890> and<00:02:01.010> governing<00:02:01.460> it<00:02:01.580> over<00:02:01.820> time<00:02:02.350> if 00:02:03.340 --> 00:02:03.350 align:start position:0% governing and governing it over time if 00:02:03.350 --> 00:02:05.770 align:start position:0% governing and governing it over time if a<00:02:03.470> single<00:02:03.770> protocol<00:02:04.130> has<00:02:04.310> to<00:02:04.460> cater<00:02:04.700> to<00:02:04.820> a<00:02:05.270> wide 00:02:05.770 --> 00:02:05.780 align:start position:0% a single protocol has to cater to a wide 00:02:05.780 --> 00:02:08.919 align:start position:0% a single protocol has to cater to a wide diversity<00:02:06.170> of<00:02:06.380> use<00:02:06.590> cases<00:02:06.860> all<00:02:07.820> of<00:02:08.690> the 00:02:08.919 --> 00:02:08.929 align:start position:0% diversity of use cases all of the 00:02:08.929 --> 00:02:10.270 align:start position:0% diversity of use cases all of the interests<00:02:09.349> of<00:02:09.470> different<00:02:09.560> users<00:02:10.069> who 00:02:10.270 --> 00:02:10.280 align:start position:0% interests of different users who 00:02:10.280 --> 00:02:12.339 align:start position:0% interests of different users who probably<00:02:10.459> want<00:02:10.879> different<00:02:11.120> things<00:02:11.330> and<00:02:11.900> for 00:02:12.339 --> 00:02:12.349 align:start position:0% probably want different things and for 00:02:12.349 --> 00:02:13.809 align:start position:0% probably want different things and for whom<00:02:12.590> the<00:02:12.829> protocol<00:02:13.250> moving<00:02:13.579> in<00:02:13.700> different 00:02:13.809 --> 00:02:13.819 align:start position:0% whom the protocol moving in different 00:02:13.819 --> 00:02:15.910 align:start position:0% whom the protocol moving in different directions<00:02:14.269> would<00:02:14.629> be<00:02:14.810> better<00:02:15.319> or<00:02:15.530> worse<00:02:15.709> at 00:02:15.910 --> 00:02:15.920 align:start position:0% directions would be better or worse at 00:02:15.920 --> 00:02:17.220 align:start position:0% directions would be better or worse at different<00:02:16.219> times 00:02:17.220 --> 00:02:17.230 align:start position:0% different times 00:02:17.230 --> 00:02:19.690 align:start position:0% different times have<00:02:18.230> a<00:02:18.260> hard<00:02:18.500> time<00:02:18.680> agreeing<00:02:19.010> on<00:02:19.280> how<00:02:19.640> to 00:02:19.690 --> 00:02:19.700 align:start position:0% have a hard time agreeing on how to 00:02:19.700 --> 00:02:21.580 align:start position:0% have a hard time agreeing on how to change<00:02:20.090> a<00:02:20.239> protocol<00:02:20.599> over<00:02:20.840> time<00:02:21.019> that<00:02:21.319> becomes 00:02:21.580 --> 00:02:21.590 align:start position:0% change a protocol over time that becomes 00:02:21.590 --> 00:02:23.140 align:start position:0% change a protocol over time that becomes much<00:02:21.799> easier<00:02:21.980> if<00:02:22.400> a<00:02:22.489> use<00:02:22.640> case<00:02:22.849> is<00:02:23.000> more 00:02:23.140 --> 00:02:23.150 align:start position:0% much easier if a use case is more 00:02:23.150 --> 00:02:25.929 align:start position:0% much easier if a use case is more focused<00:02:23.629> if<00:02:24.110> they<00:02:24.290> can<00:02:24.439> choose<00:02:24.709> to<00:02:25.459> focus 00:02:25.929 --> 00:02:25.939 align:start position:0% focused if they can choose to focus 00:02:25.939 --> 00:02:27.399 align:start position:0% focused if they can choose to focus their<00:02:26.120> particular<00:02:26.360> protocol<00:02:27.019> and<00:02:27.170> solving 00:02:27.399 --> 00:02:27.409 align:start position:0% their particular protocol and solving 00:02:27.409 --> 00:02:28.899 align:start position:0% their particular protocol and solving one<00:02:27.530> particular<00:02:27.980> problem<00:02:28.430> and<00:02:28.579> if<00:02:28.640> they<00:02:28.760> need 00:02:28.899 --> 00:02:28.909 align:start position:0% one particular problem and if they need 00:02:28.909 --> 00:02:32.069 align:start position:0% one particular problem and if they need a<00:02:28.939> new<00:02:29.150> problem<00:02:29.420> build<00:02:30.079> a<00:02:30.170> new<00:02:30.290> protocol 00:02:32.069 --> 00:02:32.079 align:start position:0% a new problem build a new protocol 00:02:32.079 --> 00:02:34.149 align:start position:0% a new problem build a new protocol another<00:02:33.079> thing<00:02:33.349> which<00:02:33.530> I<00:02:33.620> think<00:02:33.650> is<00:02:33.859> really 00:02:34.149 --> 00:02:34.159 align:start position:0% another thing which I think is really 00:02:34.159 --> 00:02:36.009 align:start position:0% another thing which I think is really important<00:02:34.640> and<00:02:34.760> sometimes<00:02:35.120> under<00:02:35.359> emphasized 00:02:36.009 --> 00:02:36.019 align:start position:0% important and sometimes under emphasized 00:02:36.019 --> 00:02:39.369 align:start position:0% important and sometimes under emphasized is<00:02:36.409> minimizing<00:02:37.250> exit<00:02:37.909> costs<00:02:38.329> of<00:02:38.480> distributed 00:02:39.369 --> 00:02:39.379 align:start position:0% is minimizing exit costs of distributed 00:02:39.379 --> 00:02:42.610 align:start position:0% is minimizing exit costs of distributed Ledger's<00:02:39.739> right<00:02:40.670> now<00:02:40.879> many<00:02:41.720> of<00:02:41.810> us<00:02:42.079> I<00:02:42.379> think 00:02:42.610 --> 00:02:42.620 align:start position:0% Ledger's right now many of us I think 00:02:42.620 --> 00:02:44.470 align:start position:0% Ledger's right now many of us I think would<00:02:43.010> consider<00:02:43.370> the<00:02:43.609> exit<00:02:43.970> costs<00:02:44.299> of 00:02:44.470 --> 00:02:44.480 align:start position:0% would consider the exit costs of 00:02:44.480 --> 00:02:46.479 align:start position:0% would consider the exit costs of centralized<00:02:45.049> platforms<00:02:45.739> particularly<00:02:46.310> those 00:02:46.479 --> 00:02:46.489 align:start position:0% centralized platforms particularly those 00:02:46.489 --> 00:02:48.160 align:start position:0% centralized platforms particularly those which<00:02:46.670> control<00:02:47.030> information<00:02:47.569> to<00:02:47.720> be<00:02:47.810> too<00:02:47.989> high 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align:start position:0% so high is that there's no possible 00:02:55.760 --> 00:02:59.319 align:start position:0% so high is that there's no possible interoperability<00:02:56.540> if<00:02:57.409> someone<00:02:57.799> builds<00:02:58.430> a<00:02:58.639> web 00:02:59.319 --> 00:02:59.329 align:start position:0% interoperability if someone builds a web 00:02:59.329 --> 00:03:00.940 align:start position:0% interoperability if someone builds a web client<00:02:59.569> which<00:02:59.989> allows<00:03:00.260> you<00:03:00.409> to<00:03:00.470> access<00:03:00.889> your 00:03:00.940 --> 00:03:00.950 align:start position:0% client which allows you to access your 00:03:00.950 --> 00:03:03.250 align:start position:0% client which allows you to access your Gmail<00:03:01.430> data<00:03:01.579> Google<00:03:01.970> will<00:03:02.329> sue<00:03:02.689> them<00:03:02.900> or<00:03:03.079> shut 00:03:03.250 --> 00:03:03.260 align:start position:0% Gmail data Google will sue them or shut 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position:0% desire to minimize exit costs for Ledger's<00:03:10.549> and<00:03:10.760> that<00:03:11.299> means<00:03:11.709> continued<00:03:12.709> asset 00:03:13.149 --> 00:03:13.159 align:start position:0% Ledger's and that means continued asset 00:03:13.159 --> 00:03:16.240 align:start position:0% Ledger's and that means continued asset interoperability<00:03:13.879> so<00:03:14.750> hard<00:03:15.560> Forks<00:03:15.920> can<00:03:16.129> be 00:03:16.240 --> 00:03:16.250 align:start position:0% interoperability so hard Forks can be 00:03:16.250 --> 00:03:18.670 align:start position:0% interoperability so hard Forks can be contentious<00:03:16.849> when<00:03:17.209> they<00:03:17.870> necessarily 00:03:18.670 --> 00:03:18.680 align:start position:0% contentious when they necessarily 00:03:18.680 --> 00:03:20.830 align:start position:0% contentious when they necessarily diverge<00:03:19.370> when<00:03:19.730> it's<00:03:19.909> not<00:03:20.060> possible<00:03:20.299> for<00:03:20.720> users 00:03:20.830 --> 00:03:20.840 align:start position:0% diverge when it's not possible for users 00:03:20.840 --> 00:03:22.659 align:start position:0% diverge when it's not possible for users to<00:03:21.139> continue<00:03:21.500> to<00:03:21.620> use<00:03:21.739> both<00:03:21.980> protocols<00:03:22.489> at 00:03:22.659 --> 00:03:22.669 align:start position:0% to continue to use both protocols at 00:03:22.669 --> 00:03:25.659 align:start position:0% to continue to use both protocols at once<00:03:22.879> but<00:03:23.660> if<00:03:23.840> hard<00:03:24.799> Forks<00:03:25.099> could<00:03:25.310> instead<00:03:25.609> be 00:03:25.659 --> 00:03:25.669 align:start position:0% once but if hard Forks could instead be 00:03:25.669 --> 00:03:28.259 align:start position:0% once but if hard Forks could instead be Rican<00:03:26.120> stood<00:03:26.389> under<00:03:27.139> a<00:03:27.169> new<00:03:27.349> mechanism<00:03:27.560> where 00:03:28.259 --> 00:03:28.269 align:start position:0% Rican stood under a new mechanism where 00:03:28.269 --> 00:03:30.789 align:start position:0% Rican stood under a new mechanism where two<00:03:29.269> different<00:03:29.660> versions<00:03:29.840> of<00:03:30.109> a<00:03:30.199> protocol<00:03:30.590> can 00:03:30.789 --> 00:03:30.799 align:start position:0% two different versions of a protocol can 00:03:30.799 --> 00:03:33.699 align:start position:0% two different versions of a protocol can continue<00:03:31.160> over<00:03:31.190> time<00:03:31.599> then<00:03:32.599> people<00:03:32.870> could<00:03:33.169> use 00:03:33.699 --> 00:03:33.709 align:start position:0% continue over time then people could use 00:03:33.709 --> 00:03:36.069 align:start position:0% continue over time then people could use one<00:03:33.949> version<00:03:34.159> retain<00:03:35.000> their<00:03:35.180> asset<00:03:35.540> other 00:03:36.069 --> 00:03:36.079 align:start position:0% one version retain their asset other 00:03:36.079 --> 00:03:37.599 align:start position:0% one version retain their asset other people<00:03:36.470> could<00:03:36.650> choose<00:03:37.010> to<00:03:37.040> switch<00:03:37.340> the<00:03:37.519> new 00:03:37.599 --> 00:03:37.609 align:start position:0% people could choose to switch the new 00:03:37.609 --> 00:03:39.339 align:start position:0% people could choose to switch the new version<00:03:37.970> and<00:03:38.120> retain<00:03:38.449> the<00:03:38.750> same<00:03:38.930> logical 00:03:39.339 --> 00:03:39.349 align:start position:0% version and retain the same logical 00:03:39.349 --> 00:03:41.470 align:start position:0% version and retain the same logical continuity<00:03:39.919> moving<00:03:40.609> their<00:03:40.730> assets<00:03:41.090> to<00:03:41.299> and 00:03:41.470 --> 00:03:41.480 align:start position:0% continuity moving their assets to and 00:03:41.480 --> 00:03:45.129 align:start position:0% continuity moving their assets to and from<00:03:41.840> the<00:03:42.109> original<00:03:42.530> protocol<00:03:43.810> but<00:03:44.810> in<00:03:44.900> order 00:03:45.129 --> 00:03:45.139 align:start position:0% from the original protocol but in order 00:03:45.139 --> 00:03:47.229 align:start position:0% from the original protocol but in order to<00:03:45.169> do<00:03:45.379> all<00:03:45.409> of<00:03:45.530> this<00:03:45.799> we<00:03:46.459> need<00:03:46.609> a<00:03:46.639> way<00:03:46.849> for 00:03:47.229 --> 00:03:47.239 align:start position:0% to do all of this we need a way for 00:03:47.239 --> 00:03:49.059 align:start position:0% to do all of this we need a way for these<00:03:47.629> different<00:03:48.260> block<00:03:48.470> chains<00:03:48.799> in<00:03:48.979> the 00:03:49.059 --> 00:03:49.069 align:start position:0% these different block chains in the 00:03:49.069 --> 00:03:51.550 align:start position:0% these different block chains in the interchange<00:03:49.340> to<00:03:49.729> talk<00:03:49.940> to<00:03:50.120> one<00:03:50.239> another<00:03:50.560> this 00:03:51.550 --> 00:03:51.560 align:start position:0% interchange to talk to one another this 00:03:51.560 --> 00:03:53.439 align:start position:0% interchange to talk to one another this way<00:03:51.799> or<00:03:52.159> a<00:03:52.340> way<00:03:52.699> that<00:03:52.970> we've<00:03:53.090> been<00:03:53.120> developing 00:03:53.439 --> 00:03:53.449 align:start position:0% way or a way that we've been developing 00:03:53.449 --> 00:03:55.830 align:start position:0% way or a way that we've been developing is<00:03:53.840> ibc<00:03:54.500> inter<00:03:54.859> blockchain<00:03:55.220> communication 00:03:55.830 --> 00:03:55.840 align:start position:0% is ibc inter blockchain communication 00:03:55.840 --> 00:03:58.689 align:start position:0% is ibc inter blockchain communication IBC<00:03:56.840> is<00:03:56.870> a<00:03:57.019> messaging<00:03:57.560> protocol<00:03:58.040> for<00:03:58.639> the 00:03:58.689 --> 00:03:58.699 align:start position:0% IBC is a messaging protocol for the 00:03:58.699 --> 00:04:03.780 align:start position:0% IBC is a messaging protocol for the inter<00:03:58.970> chain<00:03:59.150> a<00:03:59.180> general<00:03:59.750> messaging<00:04:00.229> protocol 00:04:03.780 --> 00:04:03.790 align:start position:0% 00:04:03.790 --> 00:04:08.530 align:start position:0% let's<00:04:04.790> go<00:04:04.970> back<00:04:05.209> in<00:04:05.479> time<00:04:05.510> a<00:04:06.229> few<00:04:07.190> decades<00:04:07.540> to 00:04:08.530 --> 00:04:08.540 align:start position:0% let's go back in time a few decades to 00:04:08.540 --> 00:04:11.170 align:start position:0% let's go back in time a few decades to the<00:04:08.959> early<00:04:09.319> internet<00:04:09.769> when<00:04:10.459> some<00:04:10.790> similar 00:04:11.170 --> 00:04:11.180 align:start position:0% the early internet when some similar 00:04:11.180 --> 00:04:13.180 align:start position:0% the early internet when some similar problems<00:04:11.659> were<00:04:11.810> being<00:04:12.019> solved<00:04:12.500> different 00:04:13.180 --> 00:04:13.190 align:start position:0% problems were being solved different 00:04:13.190 --> 00:04:14.830 align:start position:0% problems were being solved different machines<00:04:13.609> and<00:04:13.970> often<00:04:14.209> different<00:04:14.510> sort<00:04:14.780> of 00:04:14.830 --> 00:04:14.840 align:start position:0% machines and often different sort of 00:04:14.840 --> 00:04:16.779 align:start position:0% machines and often different sort of localized<00:04:15.319> clusters<00:04:15.799> and<00:04:15.979> machines<00:04:16.310> existed 00:04:16.779 --> 00:04:16.789 align:start position:0% localized clusters and machines existed 00:04:16.789 --> 00:04:18.069 align:start position:0% localized clusters and machines existed in<00:04:16.940> different<00:04:17.239> places<00:04:17.419> around<00:04:17.690> the<00:04:17.900> world 00:04:18.069 --> 00:04:18.079 align:start position:0% in different places around the world 00:04:18.079 --> 00:04:21.370 align:start position:0% in different places around the world particularly<00:04:19.070> an<00:04:19.489> ARPANET<00:04:20.060> around<00:04:20.720> CERN<00:04:20.989> in 00:04:21.370 --> 00:04:21.380 align:start position:0% particularly an ARPANET around CERN in 00:04:21.380 --> 00:04:23.379 align:start position:0% particularly an ARPANET around CERN in universities<00:04:22.280> in<00:04:22.430> the<00:04:22.490> United<00:04:22.849> States<00:04:23.060> and<00:04:23.300> in 00:04:23.379 --> 00:04:23.389 align:start position:0% universities in the United States and in 00:04:23.389 --> 00:04:25.180 align:start position:0% universities in the United States and in Europe<00:04:23.419> and<00:04:23.900> later<00:04:24.020> across<00:04:24.349> the<00:04:24.560> world<00:04:24.740> and 00:04:25.180 --> 00:04:25.190 align:start position:0% Europe and later across the world and 00:04:25.190 --> 00:04:27.219 align:start position:0% Europe and later across the world and those<00:04:25.909> computers<00:04:26.419> needed<00:04:26.599> a<00:04:26.750> way<00:04:26.870> to<00:04:26.930> talk<00:04:27.200> to 00:04:27.219 --> 00:04:27.229 align:start position:0% those computers needed a way to talk to 00:04:27.229 --> 00:04:29.890 align:start position:0% those computers needed a way to talk to each<00:04:27.440> other<00:04:28.210> this<00:04:29.210> was<00:04:29.389> obvious 00:04:29.890 --> 00:04:29.900 align:start position:0% each other this was obvious 00:04:29.900 --> 00:04:31.090 align:start position:0% each other this was obvious many<00:04:30.110> people<00:04:30.440> built<00:04:30.620> protocol 00:04:31.090 --> 00:04:31.100 align:start position:0% many people built protocol 00:04:31.100 --> 00:04:32.530 align:start position:0% many people built protocol to<00:04:31.370> allow<00:04:31.520> these<00:04:31.670> computers<00:04:32.120> to<00:04:32.240> talk<00:04:32.360> to<00:04:32.420> each 00:04:32.530 --> 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--> 00:04:40.160 align:start position:0% your hand and keep it up if you've heard 00:04:40.160 --> 00:04:45.870 align:start position:0% your hand and keep it up if you've heard of<00:04:40.220> X<00:04:40.490> NS<00:04:42.730> hmm<00:04:43.730> not<00:04:43.940> too<00:04:44.060> many<00:04:44.180> Apple<00:04:44.630> talk<00:04:44.810> a 00:04:45.870 --> 00:04:45.880 align:start position:0% of X NS hmm not too many Apple talk a 00:04:45.880 --> 00:04:53.410 align:start position:0% of X NS hmm not too many Apple talk a few<00:04:46.880> chaos<00:04:47.720> net<00:04:48.490> IP<00:04:49.490> x<00:04:49.820> SP<00:04:50.180> x<00:04:50.560> IP<00:04:52.330> should<00:04:53.330> be 00:04:53.410 --> 00:04:53.420 align:start position:0% few chaos net IP x SP x IP should be 00:04:53.420 --> 00:04:55.120 align:start position:0% few chaos net IP x SP x IP should be just<00:04:53.570> about<00:04:53.720> everyone<00:04:54.170> he<00:04:54.650> came<00:04:54.890> to<00:04:55.040> this 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00:05:04.130 --> 00:05:05.440 align:start position:0% why were what for for these protocols there<00:05:04.490> are<00:05:04.580> tons<00:05:04.760> more<00:05:04.820> which<00:05:05.150> I<00:05:05.240> didn't 00:05:05.440 --> 00:05:05.450 align:start position:0% there are tons more which I didn't 00:05:05.450 --> 00:05:06.910 align:start position:0% there are tons more which I didn't bother<00:05:05.570> the<00:05:05.780> lists<00:05:06.020> Huayra<00:05:06.530> for<00:05:06.740> these 00:05:06.910 --> 00:05:06.920 align:start position:0% bother the lists Huayra for these 00:05:06.920 --> 00:05:10.210 align:start position:0% bother the lists Huayra for these protocols<00:05:07.600> unsuccessful<00:05:08.600> in<00:05:09.380> connecting<00:05:10.100> all 00:05:10.210 --> 00:05:10.220 align:start position:0% protocols unsuccessful in connecting all 00:05:10.220 --> 00:05:13.450 align:start position:0% protocols unsuccessful in connecting all of<00:05:10.310> the<00:05:10.430> computers<00:05:10.820> while<00:05:11.660> one<00:05:11.870> was<00:05:12.050> I<00:05:12.460> think 00:05:13.450 --> 00:05:13.460 align:start position:0% of the computers while one was I think 00:05:13.460 --> 00:05:15.460 align:start position:0% of the computers while one was I think there<00:05:13.610> are<00:05:13.640> a<00:05:13.700> few<00:05:13.730> reasons<00:05:14.080> one<00:05:15.080> is<00:05:15.230> that<00:05:15.380> the 00:05:15.460 --> 00:05:15.470 align:start position:0% there are a few reasons one is that the 00:05:15.470 --> 00:05:17.380 align:start position:0% there are a few reasons one is that the Internet<00:05:15.770> Protocol<00:05:16.160> was<00:05:16.340> quite<00:05:16.550> general<00:05:16.910> it 00:05:17.380 --> 00:05:17.390 align:start position:0% Internet Protocol was quite general it 00:05:17.390 --> 00:05:19.300 align:start position:0% Internet Protocol was quite general it wasn't<00:05:17.870> specific<00:05:18.380> to<00:05:18.500> a<00:05:18.530> manufacturer<00:05:19.190> or 00:05:19.300 --> 00:05:19.310 align:start position:0% wasn't specific to a manufacturer or 00:05:19.310 --> 00:05:21.820 align:start position:0% wasn't specific to a manufacturer or specific<00:05:19.820> to<00:05:20.110> somewhat<00:05:21.110> closed<00:05:21.380> hardware 00:05:21.820 --> 00:05:21.830 align:start position:0% specific to somewhat closed hardware 00:05:21.830 --> 00:05:23.740 align:start position:0% specific to somewhat closed hardware like<00:05:22.040> Apple<00:05:22.340> Talk<00:05:22.520> it<00:05:23.060> didn't<00:05:23.420> rely<00:05:23.720> on 00:05:23.740 --> 00:05:23.750 align:start position:0% like Apple Talk it didn't rely on 00:05:23.750 --> 00:05:25.780 align:start position:0% like Apple Talk it didn't rely on particular<00:05:24.530> network<00:05:24.830> cards<00:05:25.250> it<00:05:25.400> wasn't<00:05:25.670> in 00:05:25.780 --> 00:05:25.790 align:start position:0% particular network cards it wasn't in 00:05:25.790 --> 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and<00:05:32.890> implement 00:05:33.880 --> 00:05:33.890 align:start position:0% open-source in that time and implement 00:05:33.890 --> 00:05:36.660 align:start position:0% open-source in that time and implement their<00:05:34.040> own<00:05:34.070> Hardware<00:05:34.550> which<00:05:34.700> supported<00:05:35.120> it 00:05:36.660 --> 00:05:36.670 align:start position:0% their own Hardware which supported it 00:05:36.670 --> 00:05:39.640 align:start position:0% their own Hardware which supported it protocols<00:05:37.670> like<00:05:38.140> some<00:05:39.140> of<00:05:39.260> these<00:05:39.350> and 00:05:39.640 --> 00:05:39.650 align:start position:0% protocols like some of these and 00:05:39.650 --> 00:05:43.450 align:start position:0% protocols like some of these and especially<00:05:40.220> IP<00:05:40.610> are<00:05:41.530> non-contentious<00:05:42.530> the 00:05:43.450 --> 00:05:43.460 align:start position:0% especially IP are non-contentious the 00:05:43.460 --> 00:05:44.830 align:start position:0% especially IP are non-contentious the Internet<00:05:43.730> Protocol<00:05:44.060> has<00:05:44.120> a<00:05:44.240> monopoly<00:05:44.570> there 00:05:44.830 --> 00:05:44.840 align:start position:0% Internet Protocol has a monopoly there 00:05:44.840 --> 00:05:46.900 align:start position:0% Internet Protocol has a monopoly there are<00:05:45.110> no<00:05:45.230> other<00:05:45.410> internet<00:05:45.770> protocols<00:05:46.160> but<00:05:46.700> it's 00:05:46.900 --> 00:05:46.910 align:start position:0% are no other internet protocols but it's 00:05:46.910 --> 00:05:48.880 align:start position:0% are no other internet protocols but it's a<00:05:47.060> beneficial<00:05:47.750> monopoly<00:05:48.290> or<00:05:48.320> but<00:05:48.590> Neverland 00:05:48.880 --> 00:05:48.890 align:start position:0% a beneficial monopoly or but Neverland 00:05:48.890 --> 00:05:51.400 align:start position:0% a beneficial monopoly or but Neverland monopoly<00:05:49.340> because<00:05:49.940> using<00:05:50.870> the<00:05:51.080> Internet 00:05:51.400 --> 00:05:51.410 align:start position:0% monopoly because using the Internet 00:05:51.410 --> 00:05:53.350 align:start position:0% monopoly because using the Internet Protocol<00:05:51.830> doesn't<00:05:52.370> prevent<00:05:52.730> anyone<00:05:53.180> from 00:05:53.350 --> 00:05:53.360 align:start position:0% Protocol doesn't prevent anyone from 00:05:53.360 --> 00:05:55.210 align:start position:0% Protocol doesn't prevent anyone from supporting<00:05:54.020> other<00:05:54.170> protocols<00:05:54.650> it<00:05:54.890> doesn't 00:05:55.210 --> 00:05:55.220 align:start position:0% supporting other protocols it doesn't 00:05:55.220 --> 00:05:56.770 align:start position:0% supporting other protocols it doesn't lock<00:05:55.400> them<00:05:55.610> into<00:05:55.760> a<00:05:55.910> particular<00:05:56.180> token<00:05:56.570> a 00:05:56.770 --> 00:05:56.780 align:start position:0% lock them into a particular token a 00:05:56.780 --> 00:05:58.630 align:start position:0% lock them into a particular token a particular<00:05:57.040> infrastructure<00:05:58.040> as<00:05:58.280> they<00:05:58.430> just 00:05:58.630 --> 00:05:58.640 align:start position:0% particular infrastructure as they just 00:05:58.640 --> 00:06:00.820 align:start position:0% particular infrastructure as they just speak<00:05:58.910> this<00:05:59.510> particular<00:05:59.870> language<00:06:00.470> at<00:06:00.680> the 00:06:00.820 --> 00:06:00.830 align:start position:0% speak this particular language at the 00:06:00.830 --> 00:06:02.110 align:start position:0% speak this particular language at the edge<00:06:00.950> where<00:06:01.460> they<00:06:01.580> connect<00:06:01.880> to<00:06:01.970> other 00:06:02.110 --> 00:06:02.120 align:start position:0% edge where they connect to other 00:06:02.120 --> 00:06:04.360 align:start position:0% edge where they connect to other computers<00:06:02.600> we<00:06:03.080> need<00:06:03.230> something<00:06:03.560> similar<00:06:03.770> for 00:06:04.360 --> 00:06:04.370 align:start position:0% computers we need something similar for 00:06:04.370 --> 00:06:08.350 align:start position:0% computers we need something similar for block<00:06:04.550> chains<00:06:05.710> what<00:06:06.710> does<00:06:06.830> this<00:06:06.950> mean<00:06:07.220> in<00:06:07.430> the 00:06:08.350 --> 00:06:08.360 align:start position:0% block chains what does this mean in the 00:06:08.360 --> 00:06:10.540 align:start position:0% block chains what does this mean in the context<00:06:08.900> of<00:06:09.050> blockchain<00:06:09.500> interoperability 00:06:10.540 --> 00:06:10.550 align:start position:0% context of blockchain interoperability 00:06:10.550 --> 00:06:13.240 align:start position:0% context of blockchain interoperability how<00:06:11.030> do<00:06:11.090> we<00:06:11.420> build<00:06:12.020> this<00:06:12.470> kind<00:06:12.740> of<00:06:12.830> protocol 00:06:13.240 --> 00:06:13.250 align:start position:0% how do we build this kind of protocol 00:06:13.250 --> 00:06:16.260 align:start position:0% how do we build this kind of protocol which<00:06:13.460> can<00:06:13.670> fulfill<00:06:14.090> this<00:06:14.390> non-contentious 00:06:16.260 --> 00:06:16.270 align:start position:0% which can fulfill this non-contentious 00:06:16.270 --> 00:06:20.080 align:start position:0% which can fulfill this non-contentious global<00:06:17.270> standard<00:06:17.750> requirement<00:06:18.610> one<00:06:19.610> needs<00:06:19.970> to 00:06:20.080 --> 00:06:20.090 align:start position:0% global standard requirement one needs to 00:06:20.090 --> 00:06:23.080 align:start position:0% global standard requirement one needs to be<00:06:20.180> modular<00:06:21.070> this<00:06:22.070> communications<00:06:22.700> protocol 00:06:23.080 --> 00:06:23.090 align:start position:0% be modular this communications protocol 00:06:23.090 --> 00:06:24.940 align:start position:0% be modular this communications protocol needs<00:06:23.330> to<00:06:23.540> abstract<00:06:23.870> over<00:06:24.380> the<00:06:24.650> different 00:06:24.940 --> 00:06:24.950 align:start position:0% needs to abstract over the different 00:06:24.950 --> 00:06:26.920 align:start position:0% needs to abstract over the different methods<00:06:25.310> for<00:06:25.430> verifying<00:06:26.240> state<00:06:26.570> of<00:06:26.810> other 00:06:26.920 --> 00:06:26.930 align:start position:0% methods for verifying state of other 00:06:26.930 --> 00:06:29.980 align:start position:0% methods for verifying state of other block<00:06:27.200> chains<00:06:27.470> it<00:06:27.800> needs<00:06:28.370> to<00:06:28.550> enable<00:06:28.970> needs<00:06:29.870> to 00:06:29.980 --> 00:06:29.990 align:start position:0% block chains it needs to enable needs to 00:06:29.990 --> 00:06:31.690 align:start position:0% block chains it needs to enable needs to create<00:06:30.200> a<00:06:30.290> standard<00:06:30.800> such<00:06:31.040> that<00:06:31.250> block<00:06:31.430> chains 00:06:31.690 --> 00:06:31.700 align:start position:0% create a standard such that block chains 00:06:31.700 --> 00:06:34.360 align:start position:0% create a standard such that block chains can<00:06:31.970> check<00:06:32.380> the<00:06:33.380> other<00:06:33.410> blockchain<00:06:34.070> sent 00:06:34.360 --> 00:06:34.370 align:start position:0% can check the other blockchain sent 00:06:34.370 --> 00:06:37.690 align:start position:0% can check the other blockchain sent messages<00:06:34.790> to<00:06:35.200> it<00:06:36.200> needs<00:06:36.380> to<00:06:36.530> be<00:06:36.620> local<00:06:37.100> the 00:06:37.690 --> 00:06:37.700 align:start position:0% messages to it needs to be local the 00:06:37.700 --> 00:06:40.000 align:start position:0% messages to it needs to be local the stands<00:06:37.970> in<00:06:38.180> contrast<00:06:38.210> to<00:06:38.900> a<00:06:39.380> lot<00:06:39.440> of<00:06:39.620> charting 00:06:40.000 --> 00:06:40.010 align:start position:0% stands in contrast to a lot of charting 00:06:40.010 --> 00:06:41.260 align:start position:0% stands in contrast to a lot of charting protocols<00:06:40.400> which<00:06:40.610> are<00:06:40.700> interesting<00:06:41.090> there's 00:06:41.260 --> 00:06:41.270 align:start position:0% protocols which are interesting there's 00:06:41.270 --> 00:06:42.940 align:start position:0% protocols which are interesting there's all<00:06:41.390> the<00:06:41.479> different<00:06:41.720> problem<00:06:42.020> but<00:06:42.620> charting 00:06:42.940 --> 00:06:42.950 align:start position:0% all the different problem but charting 00:06:42.950 --> 00:06:44.890 align:start position:0% all the different problem but charting protocols<00:06:43.340> tend<00:06:43.640> to<00:06:43.790> require<00:06:44.090> a<00:06:44.510> glow 00:06:44.890 --> 00:06:44.900 align:start position:0% protocols tend to require a glow 00:06:44.900 --> 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it's called different<00:06:52.730> things<00:06:52.880> but<00:06:53.270> one<00:06:53.450> entity<00:06:53.840> in<00:06:53.930> the 00:06:54.010 --> 00:06:54.020 align:start position:0% different things but one entity in the 00:06:54.020 --> 00:06:56.650 align:start position:0% different things but one entity in the set<00:06:54.170> of<00:06:54.260> chains<00:06:54.500> has<00:06:54.830> a<00:06:55.190> view<00:06:55.460> at<00:06:55.730> all<00:06:55.850> times<00:06:56.120> of 00:06:56.650 --> 00:06:56.660 align:start position:0% set of chains has a view at all times of 00:06:56.660 --> 00:06:58.180 align:start position:0% set of chains has a view at all times of what<00:06:56.930> the<00:06:57.050> other<00:06:57.200> shards<00:06:57.620> are<00:06:57.770> what<00:06:58.040> they're 00:06:58.180 --> 00:06:58.190 align:start position:0% what the other shards are what they're 00:06:58.190 --> 00:06:59.620 align:start position:0% what the other shards are what they're doing<00:06:58.490> it<00:06:58.640> knows<00:06:58.820> some<00:06:59.090> sort<00:06:59.270> of<00:06:59.330> assignment 00:06:59.620 --> 00:06:59.630 align:start position:0% doing it knows some sort of assignment 00:06:59.630 --> 00:07:01.630 align:start position:0% doing it knows some sort of assignment and<00:07:00.020> it<00:07:00.410> can<00:07:00.530> reason<00:07:00.860> about<00:07:00.920> the<00:07:01.190> security 00:07:01.630 --> 00:07:01.640 align:start position:0% and it can reason about the security 00:07:01.640 --> 00:07:03.730 align:start position:0% and it can reason about the security properties<00:07:02.060> of<00:07:02.180> that<00:07:02.300> system<00:07:02.540> because<00:07:03.080> it 00:07:03.730 --> 00:07:03.740 align:start position:0% properties of that system because it 00:07:03.740 --> 00:07:06.190 align:start position:0% properties of that system because it knows<00:07:03.950> what<00:07:04.160> the<00:07:04.190> topology<00:07:04.520> is<00:07:05.000> for<00:07:05.810> obviously 00:07:06.190 --> 00:07:06.200 align:start position:0% knows what the topology is for obviously 00:07:06.200 --> 00:07:08.590 align:start position:0% knows what the topology is for obviously we<00:07:06.350> don't<00:07:06.530> want<00:07:06.680> to<00:07:06.950> require<00:07:07.280> this<00:07:07.580> we<00:07:08.270> want<00:07:08.510> to 00:07:08.590 --> 00:07:08.600 align:start position:0% we don't want to require this we want to 00:07:08.600 --> 00:07:12.550 align:start position:0% we don't want to require this we want to allow<00:07:09.080> the<00:07:09.770> topology<00:07:10.130> to<00:07:10.730> exist 00:07:12.550 --> 00:07:12.560 align:start position:0% allow the topology to exist 00:07:12.560 --> 00:07:14.770 align:start position:0% allow the topology to exist amorphous<00:07:13.190> ly<00:07:13.490> as<00:07:13.700> something<00:07:14.210> that<00:07:14.240> no<00:07:14.480> chain 00:07:14.770 --> 00:07:14.780 align:start position:0% amorphous ly as something that no chain 00:07:14.780 --> 00:07:16.360 align:start position:0% amorphous ly as something that no chain in<00:07:15.020> the<00:07:15.170> system<00:07:15.500> no<00:07:15.740> chain<00:07:15.950> and<00:07:16.100> the<00:07:16.160> inter 00:07:16.360 --> 00:07:16.370 align:start position:0% in the system no chain and the inter 00:07:16.370 --> 00:07:18.190 align:start position:0% in the system no chain and the inter chain<00:07:16.520> has<00:07:16.730> to<00:07:16.880> know<00:07:17.120> or<00:07:17.360> reason<00:07:17.720> about<00:07:17.930> in 00:07:18.190 --> 00:07:18.200 align:start position:0% chain has to know or reason about in 00:07:18.200 --> 00:07:20.860 align:start position:0% chain has to know or reason about in order<00:07:18.380> to<00:07:18.530> use<00:07:19.340> the<00:07:19.490> protocol<00:07:19.850> safely<00:07:20.270> that's 00:07:20.860 --> 00:07:20.870 align:start position:0% order to use the protocol safely that's 00:07:20.870 --> 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be able<00:07:28.640> to<00:07:28.820> reason<00:07:29.180> about<00:07:29.270> the<00:07:29.630> security 00:07:29.950 --> 00:07:29.960 align:start position:0% able to reason about the security 00:07:29.960 --> 00:07:31.840 align:start position:0% able to reason about the security properties<00:07:30.290> of<00:07:30.800> simply<00:07:31.130> sending<00:07:31.490> messages 00:07:31.840 --> 00:07:31.850 align:start position:0% properties of simply sending messages 00:07:31.850 --> 00:07:33.400 align:start position:0% properties of simply sending messages and<00:07:32.000> receiving<00:07:32.360> messages<00:07:32.480> just<00:07:33.050> like<00:07:33.170> the 00:07:33.400 --> 00:07:33.410 align:start position:0% and receiving messages just like the 00:07:33.410 --> 00:07:35.620 align:start position:0% and receiving messages just like the reason<00:07:33.590> about<00:07:33.950> how<00:07:34.580> you<00:07:34.640> send<00:07:35.030> and<00:07:35.180> receive<00:07:35.450> an 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properties of complex systems 00:07:41.270 --> 00:07:42.580 align:start position:0% gestalt properties of complex systems which<00:07:41.450> use<00:07:41.660> those<00:07:41.870> that<00:07:42.020> book<00:07:42.170> about<00:07:42.320> us 00:07:42.580 --> 00:07:42.590 align:start position:0% which use those that book about us 00:07:42.590 --> 00:07:47.130 align:start position:0% which use those that book about us that's<00:07:43.460> what<00:07:43.670> we<00:07:44.390> mean<00:07:44.450> by<00:07:44.660> compose<00:07:45.170> ability 00:07:47.130 --> 00:07:47.140 align:start position:0% that's what we mean by compose ability 00:07:47.140 --> 00:07:50.140 align:start position:0% that's what we mean by compose ability to<00:07:48.140> do<00:07:48.260> this<00:07:48.440> we've<00:07:48.800> built<00:07:49.130> a<00:07:49.430> layered 00:07:50.140 --> 00:07:50.150 align:start position:0% to do this we've built a layered 00:07:50.150 --> 00:07:53.020 align:start position:0% to do this we've built a layered protocol<00:07:50.750> similar<00:07:51.260> to<00:07:51.380> the<00:07:51.500> OSI<00:07:51.890> model<00:07:51.920> of<00:07:52.790> IP 00:07:53.020 --> 00:07:53.030 align:start position:0% protocol similar to the OSI model of IP 00:07:53.030 --> 00:07:55.540 align:start position:0% protocol similar to the OSI model of IP the<00:07:53.870> first<00:07:54.110> set<00:07:54.380> of<00:07:54.500> layers<00:07:54.710> is<00:07:55.070> called<00:07:55.340> the 00:07:55.540 --> 00:07:55.550 align:start position:0% the first set of layers is called the 00:07:55.550 --> 00:07:58.240 align:start position:0% the first set of layers is called the tau<00:07:55.790> or<00:07:56.210> I<00:07:56.300> like<00:07:56.630> to<00:07:56.660> call<00:07:56.780> it<00:07:57.020> the<00:07:57.080> tau<00:07:57.350> of<00:07:57.680> IVC 00:07:58.240 --> 00:07:58.250 align:start position:0% tau or I like to call it the tau of IVC 00:07:58.250 --> 00:08:00.190 align:start position:0% tau or I like to call it the tau of IVC transport<00:07:58.970> authentication<00:07:59.720> and<00:07:59.900> ordering 00:08:00.190 --> 00:08:00.200 align:start position:0% transport authentication and ordering 00:08:00.200 --> 00:08:03.220 align:start position:0% transport authentication and ordering the<00:08:01.070> tau<00:08:01.280> of<00:08:01.580> ibc<00:08:02.000> handles<00:08:02.510> getting<00:08:02.990> data 00:08:03.220 --> 00:08:03.230 align:start position:0% the tau of ibc handles getting data 00:08:03.230 --> 00:08:05.620 align:start position:0% the tau of ibc handles getting data physically<00:08:03.890> using<00:08:04.430> off<00:08:04.760> chain<00:08:05.030> processes<00:08:05.450> we 00:08:05.620 --> 00:08:05.630 align:start position:0% physically using off chain processes we 00:08:05.630 --> 00:08:07.870 align:start position:0% physically using off chain processes we call<00:08:05.780> real<00:08:05.990> ayres<00:08:06.170> from<00:08:06.980> one<00:08:07.160> blockchain<00:08:07.670> to 00:08:07.870 --> 00:08:07.880 align:start position:0% call real ayres from one blockchain to 00:08:07.880 --> 00:08:09.760 align:start position:0% call real ayres from one blockchain to another<00:08:08.120> or<00:08:08.300> one<00:08:08.480> ledger<00:08:08.690> to<00:08:08.930> another<00:08:09.230> it 00:08:09.760 --> 00:08:09.770 align:start position:0% another or one ledger to another it 00:08:09.770 --> 00:08:12.100 align:start position:0% another or one ledger to another it handles<00:08:10.130> authentication<00:08:11.020> creating<00:08:12.020> a 00:08:12.100 --> 00:08:12.110 align:start position:0% handles authentication creating a 00:08:12.110 --> 00:08:13.780 align:start position:0% handles authentication creating a standard<00:08:12.530> for<00:08:12.710> how<00:08:12.830> different<00:08:13.220> Ledger's<00:08:13.460> can 00:08:13.780 --> 00:08:13.790 align:start position:0% standard for how different Ledger's can 00:08:13.790 --> 00:08:16.030 align:start position:0% standard for how different Ledger's can authenticate<00:08:14.440> summaries<00:08:15.440> of<00:08:15.470> each<00:08:15.740> other's 00:08:16.030 --> 00:08:16.040 align:start position:0% authenticate summaries of each other's 00:08:16.040 --> 00:08:18.190 align:start position:0% authenticate summaries of each other's consensus<00:08:16.580> processes<00:08:17.090> and<00:08:17.420> use<00:08:17.960> those 00:08:18.190 --> 00:08:18.200 align:start position:0% consensus processes and use those 00:08:18.200 --> 00:08:19.570 align:start position:0% consensus processes and use those summaries<00:08:18.650> to<00:08:18.860> check<00:08:19.100> that<00:08:19.340> particular 00:08:19.570 --> 00:08:19.580 align:start position:0% summaries to check that particular 00:08:19.580 --> 00:08:21.640 align:start position:0% summaries to check that particular packets<00:08:20.150> were<00:08:20.330> sent<00:08:20.540> or<00:08:20.660> received<00:08:20.690> or<00:08:21.170> not<00:08:21.350> and 00:08:21.640 --> 00:08:21.650 align:start position:0% packets were sent or received or not and 00:08:21.650 --> 00:08:24.490 align:start position:0% packets were sent or received or not and it<00:08:22.400> handles<00:08:22.550> ordering<00:08:23.210> getting<00:08:23.840> packets<00:08:24.260> when 00:08:24.490 --> 00:08:24.500 align:start position:0% it handles ordering getting packets when 00:08:24.500 --> 00:08:26.980 align:start position:0% it handles ordering getting packets when desired<00:08:24.860> to<00:08:25.490> the<00:08:25.610> destination<00:08:26.240> in<00:08:26.450> order<00:08:26.780> and 00:08:26.980 --> 00:08:26.990 align:start position:0% desired to the destination in order and 00:08:26.990 --> 00:08:32.290 align:start position:0% desired to the destination in order and exactly<00:08:27.380> in<00:08:27.560> order<00:08:30.460> I'll<00:08:31.460> have<00:08:31.670> to<00:08:31.850> summarize 00:08:32.290 --> 00:08:32.300 align:start position:0% exactly in order I'll have to summarize 00:08:32.300 --> 00:08:34.330 align:start position:0% exactly in order I'll have to summarize briefly<00:08:32.660> over<00:08:33.200> this<00:08:33.350> protocol<00:08:33.770> stack<00:08:34.070> so<00:08:34.310> I 00:08:34.330 --> 00:08:34.340 align:start position:0% briefly over this protocol stack so I 00:08:34.340 --> 00:08:37.240 align:start position:0% briefly over this protocol stack so I think<00:08:34.700> I<00:08:34.820> will<00:08:35.000> just<00:08:35.030> use<00:08:35.300> a<00:08:35.750> picture<00:08:36.250> consider 00:08:37.240 --> 00:08:37.250 align:start position:0% think I will just use a picture consider 00:08:37.250 --> 00:08:40.920 align:start position:0% think I will just use a picture consider an<00:08:37.490> IV<00:08:37.760> see<00:08:37.940> packets<00:08:38.360> between<00:08:38.510> two<00:08:38.930> chains<00:08:39.490> in 00:08:40.920 --> 00:08:40.930 align:start position:0% an IV see packets between two chains in 00:08:40.930 --> 00:08:43.510 align:start position:0% an IV see packets between two chains in protocol<00:08:41.930> as<00:08:42.140> written<00:08:42.410> at<00:08:42.530> the<00:08:42.650> moment<00:08:42.980> we 00:08:43.510 --> 00:08:43.520 align:start position:0% protocol as written at the moment we 00:08:43.520 --> 00:08:45.310 align:start position:0% protocol as written at the moment we have<00:08:43.880> this<00:08:44.060> entity<00:08:44.330> called<00:08:44.540> a<00:08:44.690> module<00:08:45.110> which 00:08:45.310 --> 00:08:45.320 align:start position:0% have this entity called a module which 00:08:45.320 --> 00:08:46.930 align:start position:0% have this entity called a module which you<00:08:45.440> can<00:08:45.590> understand<00:08:46.100> as<00:08:46.340> being<00:08:46.520> a 00:08:46.930 --> 00:08:46.940 align:start position:0% you can understand as being a 00:08:46.940 --> 00:08:49.060 align:start position:0% you can understand as being a independent<00:08:47.420> unit<00:08:47.990> of<00:08:48.080> execution<00:08:48.710> running<00:08:48.980> a 00:08:49.060 --> 00:08:49.070 align:start position:0% independent unit of execution running a 00:08:49.070 --> 00:08:51.460 align:start position:0% independent unit of execution running a ledger<00:08:49.340> so<00:08:50.000> this<00:08:50.330> will<00:08:50.510> map<00:08:50.720> to<00:08:50.750> different 00:08:51.460 --> 00:08:51.470 align:start position:0% ledger so this will map to different 00:08:51.470 --> 00:08:53.170 align:start position:0% ledger so this will map to different particular<00:08:52.070> abstractions<00:08:52.760> and<00:08:52.910> different 00:08:53.170 --> 00:08:53.180 align:start position:0% particular abstractions and different 00:08:53.180 --> 00:08:54.790 align:start position:0% particular abstractions and different block<00:08:53.330> chains<00:08:53.600> in<00:08:53.810> the<00:08:53.900> case<00:08:54.050> of<00:08:54.200> aetherium<00:08:54.530> it 00:08:54.790 --> 00:08:54.800 align:start position:0% block chains in the case of aetherium it 00:08:54.800 --> 00:08:56.860 align:start position:0% block chains in the case of aetherium it will<00:08:54.920> map<00:08:55.070> to<00:08:55.100> a<00:08:55.280> smart<00:08:55.520> contract<00:08:55.670> in<00:08:56.180> the<00:08:56.690> case 00:08:56.860 --> 00:08:56.870 align:start position:0% will map to a smart contract in the case 00:08:56.870 --> 00:08:57.670 align:start position:0% will map to a smart contract in the case of<00:08:57.080> the<00:08:57.290> cosmos 00:08:57.670 --> 00:08:57.680 align:start position:0% of the cosmos 00:08:57.680 --> 00:09:00.070 align:start position:0% of the cosmos decay<00:08:58.040> we<00:08:58.460> call<00:08:58.670> it<00:08:58.790> just<00:08:59.149> a<00:08:59.210> module<00:08:59.570> in<00:08:59.990> the 00:09:00.070 --> 00:09:00.080 align:start position:0% decay we call it just a module in the 00:09:00.080 --> 00:09:01.420 align:start position:0% decay we call it just a module in the case<00:09:00.260> of<00:09:00.410> substrate<00:09:00.710> I<00:09:00.860> think<00:09:01.160> it's<00:09:01.279> also 00:09:01.420 --> 00:09:01.430 align:start position:0% case of substrate I think it's also 00:09:01.430 --> 00:09:03.160 align:start position:0% case of substrate I think it's also called<00:09:01.730> modules<00:09:02.180> or<00:09:02.300> packages<00:09:02.750> or<00:09:02.870> something 00:09:03.160 --> 00:09:03.170 align:start position:0% called modules or packages or something 00:09:03.170 --> 00:09:05.200 align:start position:0% called modules or packages or something but<00:09:04.010> the<00:09:04.460> concept<00:09:04.820> is<00:09:04.910> the<00:09:05.029> same 00:09:05.200 --> 00:09:05.210 align:start position:0% but the concept is the same 00:09:05.210 --> 00:09:09.310 align:start position:0% but the concept is the same so<00:09:05.750> a<00:09:06.050> module<00:09:06.500> on<00:09:06.680> blockchain<00:09:06.950> a<00:09:07.839> will<00:09:08.839> send<00:09:09.200> an 00:09:09.310 --> 00:09:09.320 align:start position:0% so a module on blockchain a will send an 00:09:09.320 --> 00:09:11.560 align:start position:0% so a module on blockchain a will send an IBC<00:09:09.589> packet<00:09:10.070> that's<00:09:10.760> number<00:09:11.060> one 00:09:11.560 --> 00:09:11.570 align:start position:0% IBC packet that's number one 00:09:11.570 --> 00:09:13.570 align:start position:0% IBC packet that's number one it<00:09:11.839> will<00:09:12.020> head<00:09:12.140> to<00:09:12.290> number<00:09:12.500> two<00:09:12.680> the<00:09:13.220> IBC 00:09:13.570 --> 00:09:13.580 align:start position:0% it will head to number two the IBC 00:09:13.580 --> 00:09:15.310 align:start position:0% it will head to number two the IBC module<00:09:13.970> which<00:09:14.209> will<00:09:14.360> interpret<00:09:14.810> that<00:09:14.930> packet 00:09:15.310 --> 00:09:15.320 align:start position:0% module which will interpret that packet 00:09:15.320 --> 00:09:17.620 align:start position:0% module which will interpret that packet to<00:09:15.440> determine<00:09:15.890> how<00:09:15.980> to<00:09:16.010> route<00:09:16.310> it<00:09:16.339> the<00:09:17.240> IBC 00:09:17.620 --> 00:09:17.630 align:start position:0% to determine how to route it the IBC 00:09:17.630 --> 00:09:19.840 align:start position:0% to determine how to route it the IBC module<00:09:18.050> will<00:09:18.230> then<00:09:18.410> store<00:09:18.890> it<00:09:19.010> in<00:09:19.190> state<00:09:19.459> the 00:09:19.840 --> 00:09:19.850 align:start position:0% module will then store it in state the 00:09:19.850 --> 00:09:21.460 align:start position:0% module will then store it in state the consensus<00:09:20.360> algorithm<00:09:20.600> of<00:09:20.870> blockchain<00:09:21.290> a 00:09:21.460 --> 00:09:21.470 align:start position:0% consensus algorithm of blockchain a 00:09:21.470 --> 00:09:23.650 align:start position:0% consensus algorithm of blockchain a that's<00:09:21.740> three<00:09:22.040> will<00:09:22.640> then<00:09:22.850> commit<00:09:23.540> that 00:09:23.650 --> 00:09:23.660 align:start position:0% that's three will then commit that 00:09:23.660 --> 00:09:25.780 align:start position:0% that's three will then commit that transaction<00:09:24.260> commit<00:09:24.709> to<00:09:24.920> a<00:09:24.950> state<00:09:25.220> a<00:09:25.730> state 00:09:25.780 --> 00:09:25.790 align:start position:0% transaction commit to a state a state 00:09:25.790 --> 00:09:30.360 align:start position:0% transaction commit to a state a state route<00:09:26.470> a<00:09:27.640> relayer<00:09:28.670> that's<00:09:29.089> number<00:09:29.270> five<00:09:29.570> will 00:09:30.360 --> 00:09:30.370 align:start position:0% route a relayer that's number five will 00:09:30.370 --> 00:09:33.220 align:start position:0% route a relayer that's number five will watch<00:09:31.370> blockchain<00:09:32.089> a<00:09:32.270> figure<00:09:32.779> out<00:09:32.810> that<00:09:33.110> an 00:09:33.220 --> 00:09:33.230 align:start position:0% watch blockchain a figure out that an 00:09:33.230 --> 00:09:35.590 align:start position:0% watch blockchain a figure out that an outgoing<00:09:33.649> packet<00:09:33.980> has<00:09:34.100> been<00:09:34.130> sent<00:09:34.490> then<00:09:35.180> send 00:09:35.590 --> 00:09:35.600 align:start position:0% outgoing packet has been sent then send 00:09:35.600 --> 00:09:37.420 align:start position:0% outgoing packet has been sent then send it<00:09:35.720> on<00:09:35.839> words<00:09:36.110> in<00:09:36.320> an<00:09:36.470> incoming<00:09:36.800> transaction 00:09:37.420 --> 00:09:37.430 align:start position:0% it on words in an incoming transaction 00:09:37.430 --> 00:09:39.760 align:start position:0% it on words in an incoming transaction to<00:09:37.580> blockchain<00:09:38.000> B<00:09:38.180> when<00:09:39.080> the<00:09:39.200> transaction<00:09:39.709> is 00:09:39.760 --> 00:09:39.770 align:start position:0% to blockchain B when the transaction is 00:09:39.770 --> 00:09:41.350 align:start position:0% to blockchain B when the transaction is accepted<00:09:40.220> on<00:09:40.339> blockchain<00:09:40.550> B<00:09:40.880> that's<00:09:41.209> number 00:09:41.350 --> 00:09:41.360 align:start position:0% accepted on blockchain B that's number 00:09:41.360 --> 00:09:43.720 align:start position:0% accepted on blockchain B that's number seven<00:09:41.600> the<00:09:42.529> packet<00:09:42.950> will<00:09:43.100> be<00:09:43.220> routed<00:09:43.430> to<00:09:43.640> the 00:09:43.720 --> 00:09:43.730 align:start position:0% seven the packet will be routed to the 00:09:43.730 --> 00:09:45.730 align:start position:0% seven the packet will be routed to the IVC<00:09:44.000> module<00:09:44.480> number<00:09:44.600> eight<00:09:44.870> on<00:09:45.170> blockchain<00:09:45.410> B 00:09:45.730 --> 00:09:45.740 align:start position:0% IVC module number eight on blockchain B 00:09:45.740 --> 00:09:48.010 align:start position:0% IVC module number eight on blockchain B and<00:09:46.040> the<00:09:46.430> IBC<00:09:46.790> module<00:09:47.120> on<00:09:47.209> blockchain<00:09:47.450> B<00:09:47.750> will 00:09:48.010 --> 00:09:48.020 align:start position:0% and the IBC module on blockchain B will 00:09:48.020 --> 00:09:49.990 align:start position:0% and the IBC module on blockchain B will parse<00:09:48.230> that<00:09:48.410> packet<00:09:48.770> decipher<00:09:49.250> it<00:09:49.310> determine 00:09:49.990 --> 00:09:50.000 align:start position:0% parse that packet decipher it determine 00:09:50.000 --> 00:09:51.460 align:start position:0% parse that packet decipher it determine where<00:09:50.120> it<00:09:50.209> needs<00:09:50.360> to<00:09:50.450> go<00:09:50.600> and<00:09:50.839> send<00:09:51.080> it<00:09:51.170> on<00:09:51.230> to 00:09:51.460 --> 00:09:51.470 align:start position:0% where it needs to go and send it on to 00:09:51.470 --> 00:09:54.820 align:start position:0% where it needs to go and send it on to module<00:09:51.620> B<00:09:51.890> so<00:09:52.730> all<00:09:52.940> of<00:09:53.149> the<00:09:53.649> packets<00:09:54.649> and 00:09:54.820 --> 00:09:54.830 align:start position:0% module B so all of the packets and 00:09:54.830 --> 00:09:56.470 align:start position:0% module B so all of the packets and packet<00:09:55.220> received<00:09:55.520> time<00:09:55.760> out<00:09:55.880> handling<00:09:56.240> all<00:09:56.450> of 00:09:56.470 --> 00:09:56.480 align:start position:0% packet received time out handling all of 00:09:56.480 --> 00:09:58.120 align:start position:0% packet received time out handling all of the<00:09:56.720> basic<00:09:57.020> primitives<00:09:57.410> we<00:09:57.560> build<00:09:57.770> an<00:09:57.890> IBC 00:09:58.120 --> 00:09:58.130 align:start position:0% the basic primitives we build an IBC 00:09:58.130 --> 00:10:01.960 align:start position:0% the basic primitives we build an IBC followed<00:09:59.000> this<00:09:59.149> structure<00:09:59.570> and<00:10:00.610> the<00:10:01.610> key<00:10:01.730> part 00:10:01.960 --> 00:10:01.970 align:start position:0% followed this structure and the key part 00:10:01.970 --> 00:10:03.760 align:start position:0% followed this structure and the key part that<00:10:02.089> I<00:10:02.180> would<00:10:02.330> emphasize<00:10:02.450> is<00:10:02.750> that<00:10:03.110> it's 00:10:03.760 --> 00:10:03.770 align:start position:0% that I would emphasize is that it's 00:10:03.770 --> 00:10:06.250 align:start position:0% that I would emphasize is that it's quite<00:10:03.950> generic<00:10:04.220> the<00:10:05.089> block<00:10:05.330> chains<00:10:05.630> and 00:10:06.250 --> 00:10:06.260 align:start position:0% quite generic the block chains and 00:10:06.260 --> 00:10:08.400 align:start position:0% quite generic the block chains and modules<00:10:06.740> need<00:10:07.070> to<00:10:07.160> have<00:10:07.310> the<00:10:07.459> ability<00:10:07.850> to 00:10:08.400 --> 00:10:08.410 align:start position:0% modules need to have the ability to 00:10:08.410 --> 00:10:11.530 align:start position:0% modules need to have the ability to verify<00:10:09.410> each<00:10:09.589> other<00:10:09.800> state<00:10:10.130> but<00:10:10.910> otherwise 00:10:11.530 --> 00:10:11.540 align:start position:0% verify each other state but otherwise 00:10:11.540 --> 00:10:13.720 align:start position:0% verify each other state but otherwise the<00:10:12.110> trust<00:10:12.500> model<00:10:12.920> between<00:10:13.160> these<00:10:13.550> two 00:10:13.720 --> 00:10:13.730 align:start position:0% the trust model between these two 00:10:13.730 --> 00:10:16.030 align:start position:0% the trust model between these two modules<00:10:14.089> module<00:10:14.420> a<00:10:14.510> and<00:10:14.660> module<00:10:14.959> B<00:10:15.080> is<00:10:15.620> similar 00:10:16.030 --> 00:10:16.040 align:start position:0% modules module a and module B is similar 00:10:16.040 --> 00:10:18.490 align:start position:0% modules module a and module B is similar to<00:10:16.220> the<00:10:16.339> trust<00:10:16.580> model<00:10:16.760> between<00:10:17.060> two<00:10:17.959> aetherium 00:10:18.490 --> 00:10:18.500 align:start position:0% to the trust model between two aetherium 00:10:18.500 --> 00:10:20.680 align:start position:0% to the trust model between two aetherium smart<00:10:18.740> contracts<00:10:19.220> module<00:10:19.970> a<00:10:20.060> doesn't<00:10:20.450> need<00:10:20.540> to 00:10:20.680 --> 00:10:20.690 align:start position:0% smart contracts module a doesn't need to 00:10:20.690 --> 00:10:22.240 align:start position:0% smart contracts module a doesn't need to reason<00:10:20.959> about<00:10:21.080> any<00:10:21.350> of<00:10:21.589> the<00:10:21.680> other<00:10:21.800> modules 00:10:22.240 --> 00:10:22.250 align:start position:0% reason about any of the other modules 00:10:22.250 --> 00:10:24.490 align:start position:0% reason about any of the other modules running<00:10:22.370> a<00:10:22.580> blockchain<00:10:22.820> a<00:10:23.150> module<00:10:24.050> B<00:10:24.170> doesn't 00:10:24.490 --> 00:10:24.500 align:start position:0% running a blockchain a module B doesn't 00:10:24.500 --> 00:10:25.630 align:start position:0% running a blockchain a module B doesn't need<00:10:24.620> to<00:10:24.709> reason<00:10:24.920> about<00:10:25.010> any<00:10:25.250> of<00:10:25.400> the<00:10:25.520> other 00:10:25.630 --> 00:10:25.640 align:start position:0% need to reason about any of the other 00:10:25.640 --> 00:10:27.010 align:start position:0% need to reason about any of the other modules<00:10:26.000> running<00:10:26.120> on<00:10:26.330> watching<00:10:26.750> B<00:10:26.839> or 00:10:27.010 --> 00:10:27.020 align:start position:0% modules running on watching B or 00:10:27.020 --> 00:10:30.550 align:start position:0% modules running on watching B or blockchain<00:10:27.410> a<00:10:28.540> they<00:10:29.540> can<00:10:29.600> simply<00:10:30.020> once<00:10:30.320> they 00:10:30.550 --> 00:10:30.560 align:start position:0% blockchain a they can simply once they 00:10:30.560 --> 00:10:32.590 align:start position:0% blockchain a they can simply once they establish<00:10:30.680> this<00:10:31.250> secure<00:10:32.000> communications 00:10:32.590 --> 00:10:32.600 align:start position:0% establish this secure communications 00:10:32.600 --> 00:10:33.640 align:start position:0% establish this secure communications channel<00:10:32.959> between<00:10:33.080> each<00:10:33.380> other 00:10:33.640 --> 00:10:33.650 align:start position:0% channel between each other 00:10:33.650 --> 00:10:35.800 align:start position:0% channel between each other send<00:10:34.160> and<00:10:34.310> receive<00:10:34.550> packets<00:10:35.000> and<00:10:35.240> reason 00:10:35.800 --> 00:10:35.810 align:start position:0% send and receive packets and reason 00:10:35.810 --> 00:10:37.630 align:start position:0% send and receive packets and reason about<00:10:36.020> this<00:10:36.230> local<00:10:36.740> system<00:10:37.220> everything 00:10:37.630 --> 00:10:37.640 align:start position:0% about this local system everything 00:10:37.640 --> 00:10:39.160 align:start position:0% about this local system everything contained<00:10:37.940> on<00:10:38.060> this<00:10:38.150> diagram<00:10:38.600> is<00:10:38.779> sufficient 00:10:39.160 --> 00:10:39.170 align:start position:0% contained on this diagram is sufficient 00:10:39.170 --> 00:10:41.140 align:start position:0% contained on this diagram is sufficient the<00:10:39.380> understanding<00:10:39.920> of<00:10:40.040> it<00:10:40.160> is<00:10:40.279> sufficient<00:10:40.700> to 00:10:41.140 --> 00:10:41.150 align:start position:0% the understanding of it is sufficient to 00:10:41.150 --> 00:10:47.650 align:start position:0% the understanding of it is sufficient to reason<00:10:41.390> about<00:10:41.540> the<00:10:41.660> security<00:10:42.079> of<00:10:42.110> IBC<00:10:46.660> what 00:10:47.650 --> 00:10:47.660 align:start position:0% reason about the security of IBC what 00:10:47.660 --> 00:10:50.380 align:start position:0% reason about the security of IBC what needs<00:10:48.290> to<00:10:48.410> come<00:10:48.650> next<00:10:48.890> we're<00:10:49.850> calling<00:10:50.240> the 00:10:50.380 --> 00:10:50.390 align:start position:0% needs to come next we're calling the 00:10:50.390 --> 00:10:52.960 align:start position:0% needs to come next we're calling the application<00:10:51.110> layer<00:10:51.490> this<00:10:52.490> is<00:10:52.640> a<00:10:52.670> little 00:10:52.960 --> 00:10:52.970 align:start position:0% application layer this is a little 00:10:52.970 --> 00:10:56.410 align:start position:0% application layer this is a little analogous<00:10:53.540> to<00:10:54.130> ERC<00:10:55.130> standards<00:10:55.790> in<00:10:56.029> the<00:10:56.149> theory 00:10:56.410 --> 00:10:56.420 align:start position:0% analogous to ERC standards in the theory 00:10:56.420 --> 00:10:59.380 align:start position:0% analogous to ERC standards in the theory and<00:10:56.600> standards<00:10:56.990> for<00:10:57.050> call<00:10:57.380> data<00:10:58.060> we've<00:10:59.060> built 00:10:59.380 --> 00:10:59.390 align:start position:0% and standards for call data we've built 00:10:59.390 --> 00:11:02.769 align:start position:0% and standards for call data we've built IBC<00:10:59.990> to<00:11:00.230> be<00:11:00.380> payload<00:11:01.130> agnostic<00:11:01.850> such<00:11:02.540> that 00:11:02.769 --> 00:11:02.779 align:start position:0% IBC to be payload agnostic such that 00:11:02.779 --> 00:11:05.319 align:start position:0% IBC to be payload agnostic such that when<00:11:02.930> packets<00:11:03.350> are<00:11:03.649> real<00:11:04.190> AIDS<00:11:04.399> sent<00:11:05.209> around 00:11:05.319 --> 00:11:05.329 align:start position:0% when packets are real AIDS sent around 00:11:05.329 --> 00:11:08.230 align:start position:0% when packets are real AIDS sent around verified<00:11:06.550> handled<00:11:07.550> and<00:11:07.700> timeouts<00:11:08.060> by<00:11:08.180> the 00:11:08.230 --> 00:11:08.240 align:start position:0% verified handled and timeouts by the 00:11:08.240 --> 00:11:10.810 align:start position:0% verified handled and timeouts by the protocol<00:11:08.750> the<00:11:08.990> protocol<00:11:09.820> implementations 00:11:10.810 --> 00:11:10.820 align:start position:0% protocol the protocol implementations 00:11:10.820 --> 00:11:11.500 align:start position:0% protocol the protocol implementations don't<00:11:11.120> need<00:11:11.270> to 00:11:11.500 --> 00:11:11.510 align:start position:0% don't need to 00:11:11.510 --> 00:11:13.120 align:start position:0% don't need to stand<00:11:11.870> what<00:11:12.050> the<00:11:12.170> data<00:11:12.380> in<00:11:12.620> those<00:11:12.770> packets 00:11:13.120 --> 00:11:13.130 align:start position:0% stand what the data in those packets 00:11:13.130 --> 00:11:15.640 align:start position:0% stand what the data in those packets mean<00:11:13.480> that<00:11:14.480> only<00:11:14.660> needs<00:11:14.960> to<00:11:15.080> be<00:11:15.110> understood<00:11:15.530> at 00:11:15.640 --> 00:11:15.650 align:start position:0% mean that only needs to be understood at 00:11:15.650 --> 00:11:17.230 align:start position:0% mean that only needs to be understood at the<00:11:15.770> edges<00:11:16.190> needs<00:11:16.520> to<00:11:16.640> be<00:11:16.700> understood<00:11:17.060> by<00:11:17.210> the 00:11:17.230 --> 00:11:17.240 align:start position:0% the edges needs to be understood by the 00:11:17.240 --> 00:11:18.760 align:start position:0% the edges needs to be understood by the module<00:11:17.690> sending<00:11:18.110> or<00:11:18.230> receiving<00:11:18.470> these 00:11:18.760 --> 00:11:18.770 align:start position:0% module sending or receiving these 00:11:18.770 --> 00:11:21.250 align:start position:0% module sending or receiving these packets<00:11:19.600> dealing<00:11:20.600> with<00:11:20.720> how<00:11:20.840> they<00:11:20.990> should<00:11:21.170> be 00:11:21.250 --> 00:11:21.260 align:start position:0% packets dealing with how they should be 00:11:21.260 --> 00:11:23.050 align:start position:0% packets dealing with how they should be interpreted<00:11:21.560> and<00:11:21.920> what<00:11:22.130> the<00:11:22.280> semantics<00:11:22.820> of 00:11:23.050 --> 00:11:23.060 align:start position:0% interpreted and what the semantics of 00:11:23.060 --> 00:11:27.970 align:start position:0% interpreted and what the semantics of particular<00:11:23.690> packet<00:11:24.260> data<00:11:24.470> are<00:11:26.170> in<00:11:27.170> order<00:11:27.710> to 00:11:27.970 --> 00:11:27.980 align:start position:0% particular packet data are in order to 00:11:27.980 --> 00:11:29.590 align:start position:0% particular packet data are in order to standardize<00:11:28.730> this<00:11:28.880> across<00:11:29.180> the<00:11:29.240> ecosystem 00:11:29.590 --> 00:11:29.600 align:start position:0% standardize this across the ecosystem 00:11:29.600 --> 00:11:32.020 align:start position:0% standardize this across the ecosystem again<00:11:30.260> in<00:11:30.410> a<00:11:30.500> non<00:11:30.650> contentious<00:11:31.130> fashion<00:11:31.520> we 00:11:32.020 --> 00:11:32.030 align:start position:0% again in a non contentious fashion we 00:11:32.030 --> 00:11:33.820 align:start position:0% again in a non contentious fashion we will<00:11:32.210> need<00:11:32.450> a<00:11:32.660> set<00:11:32.870> of<00:11:33.020> application<00:11:33.650> layer 00:11:33.820 --> 00:11:33.830 align:start position:0% will need a set of application layer 00:11:33.830 --> 00:11:36.100 align:start position:0% will need a set of application layer packet<00:11:34.400> encoding<00:11:34.880> and<00:11:35.030> semantic<00:11:35.540> standards 00:11:36.100 --> 00:11:36.110 align:start position:0% packet encoding and semantic standards 00:11:36.110 --> 00:11:38.230 align:start position:0% packet encoding and semantic standards some<00:11:36.890> of<00:11:37.040> these<00:11:37.160> can<00:11:37.430> probably<00:11:37.640> build<00:11:38.000> off 00:11:38.230 --> 00:11:38.240 align:start position:0% some of these can probably build off 00:11:38.240 --> 00:11:39.850 align:start position:0% some of these can probably build off some<00:11:38.540> of<00:11:38.570> the<00:11:38.720> work<00:11:38.870> with<00:11:39.080> ethereum<00:11:39.560> is<00:11:39.680> done 00:11:39.850 --> 00:11:39.860 align:start position:0% some of the work with ethereum is done 00:11:39.860 --> 00:11:43.120 align:start position:0% some of the work with ethereum is done with<00:11:40.550> ERC<00:11:41.510> standards<00:11:42.500> for<00:11:42.650> called<00:11:42.830> out<00:11:42.980> of 00:11:43.120 --> 00:11:43.130 align:start position:0% with ERC standards for called out of 00:11:43.130 --> 00:11:44.830 align:start position:0% with ERC standards for called out of between<00:11:43.490> contracts<00:11:44.000> we<00:11:44.210> hope<00:11:44.330> to<00:11:44.480> collaborate 00:11:44.830 --> 00:11:44.840 align:start position:0% between contracts we hope to collaborate 00:11:44.840 --> 00:11:45.760 align:start position:0% between contracts we hope to collaborate as<00:11:44.930> much<00:11:45.110> as<00:11:45.200> possible 00:11:45.760 --> 00:11:45.770 align:start position:0% as much as possible 00:11:45.770 --> 00:11:47.490 align:start position:0% as much as possible some<00:11:46.190> of<00:11:46.280> them<00:11:46.370> will<00:11:46.520> probably<00:11:46.580> be<00:11:47.030> different 00:11:47.490 --> 00:11:47.500 align:start position:0% some of them will probably be different 00:11:47.500 --> 00:11:52.360 align:start position:0% some of them will probably be different opening<00:11:48.500> up<00:11:48.620> different<00:11:48.800> use<00:11:49.160> cases<00:11:49.750> in<00:11:51.370> things 00:11:52.360 --> 00:11:52.370 align:start position:0% opening up different use cases in things 00:11:52.370 --> 00:11:54.190 align:start position:0% opening up different use cases in things like<00:11:52.460> cross<00:11:52.850> chain<00:11:53.210> account<00:11:53.600> abstraction 00:11:54.190 --> 00:11:54.200 align:start position:0% like cross chain account abstraction 00:11:54.200 --> 00:11:55.810 align:start position:0% like cross chain account abstraction which<00:11:54.470> someone<00:11:54.800> recently<00:11:54.980> submitted<00:11:55.580> a<00:11:55.670> Poe 00:11:55.810 --> 00:11:55.820 align:start position:0% which someone recently submitted a Poe 00:11:55.820 --> 00:11:58.750 align:start position:0% which someone recently submitted a Poe request<00:11:56.150> for<00:11:56.390> to<00:11:56.630> the<00:11:56.950> IBC<00:11:57.950> spec<00:11:58.190> repository 00:11:58.750 --> 00:11:58.760 align:start position:0% request for to the IBC spec repository 00:11:58.760 --> 00:12:01.120 align:start position:0% request for to the IBC spec repository which<00:11:59.270> allows<00:11:59.630> an<00:11:59.900> account<00:12:00.200> on<00:12:00.440> one<00:12:00.620> chain<00:12:00.860> to 00:12:01.120 --> 00:12:01.130 align:start position:0% which allows an account on one chain to 00:12:01.130 --> 00:12:03.190 align:start position:0% which allows an account on one chain to control<00:12:01.520> the<00:12:01.850> actions<00:12:02.300> to<00:12:02.540> send<00:12:02.720> transactions 00:12:03.190 --> 00:12:03.200 align:start position:0% control the actions to send transactions 00:12:03.200 --> 00:12:05.170 align:start position:0% control the actions to send transactions on<00:12:03.290> behalf<00:12:03.500> of<00:12:03.710> an<00:12:04.190> account<00:12:04.550> on<00:12:04.670> another<00:12:04.940> chain 00:12:05.170 --> 00:12:05.180 align:start position:0% on behalf of an account on another chain 00:12:05.180 --> 00:12:07.630 align:start position:0% on behalf of an account on another chain through<00:12:05.420> IBC<00:12:05.920> simple<00:12:06.920> packets<00:12:07.280> of<00:12:07.430> course 00:12:07.630 --> 00:12:07.640 align:start position:0% through IBC simple packets of course 00:12:07.640 --> 00:12:09.780 align:start position:0% through IBC simple packets of course like<00:12:07.850> token<00:12:08.150> transfer<00:12:08.570> similar<00:12:08.990> to<00:12:09.170> a<00:12:09.260> RC<00:12:09.470> 20 00:12:09.780 --> 00:12:09.790 align:start position:0% like token transfer similar to a RC 20 00:12:09.790 --> 00:12:11.890 align:start position:0% like token transfer similar to a RC 20 the<00:12:10.790> the<00:12:11.120> semantics<00:12:11.450> are<00:12:11.570> a<00:12:11.600> little<00:12:11.720> bit 00:12:11.890 --> 00:12:11.900 align:start position:0% the the semantics are a little bit 00:12:11.900 --> 00:12:12.700 align:start position:0% the the semantics are a little bit different<00:12:12.170> because<00:12:12.260> you're<00:12:12.560> actually 00:12:12.700 --> 00:12:12.710 align:start position:0% different because you're actually 00:12:12.710 --> 00:12:14.320 align:start position:0% different because you're actually transferring<00:12:13.190> tokens<00:12:13.550> between<00:12:13.880> two<00:12:14.120> block 00:12:14.320 --> 00:12:14.330 align:start position:0% transferring tokens between two block 00:12:14.330 --> 00:12:16.500 align:start position:0% transferring tokens between two block chains<00:12:14.570> so<00:12:15.170> you<00:12:15.260> need<00:12:15.440> to<00:12:15.500> account<00:12:15.710> for<00:12:15.830> supply 00:12:16.500 --> 00:12:16.510 align:start position:0% chains so you need to account for supply 00:12:16.510 --> 00:12:19.330 align:start position:0% chains so you need to account for supply but<00:12:17.510> call<00:12:17.990> data<00:12:18.140> is<00:12:18.440> similar 00:12:19.330 --> 00:12:19.340 align:start position:0% but call data is similar 00:12:19.340 --> 00:12:22.060 align:start position:0% but call data is similar more<00:12:19.760> complex<00:12:20.180> use<00:12:20.540> cases<00:12:20.780> we<00:12:21.440> expect<00:12:21.830> will 00:12:22.060 --> 00:12:22.070 align:start position:0% more complex use cases we expect will 00:12:22.070 --> 00:12:24.100 align:start position:0% more complex use cases we expect will emerge<00:12:22.280> over<00:12:22.460> time<00:12:22.690> including<00:12:23.690> things<00:12:23.960> that 00:12:24.100 --> 00:12:24.110 align:start position:0% emerge over time including things that 00:12:24.110 --> 00:12:27.280 align:start position:0% emerge over time including things that look<00:12:24.470> like<00:12:24.500> sharding<00:12:25.220> but<00:12:25.520> are<00:12:26.290> architectural 00:12:27.280 --> 00:12:27.290 align:start position:0% look like sharding but are architectural 00:12:27.290 --> 00:12:29.140 align:start position:0% look like sharding but are architectural II<00:12:27.560> a<00:12:27.590> little<00:12:27.890> different<00:12:28.220> if<00:12:28.730> you<00:12:28.910> have 00:12:29.140 --> 00:12:29.150 align:start position:0% II a little different if you have 00:12:29.150 --> 00:12:31.870 align:start position:0% II a little different if you have mutually<00:12:29.780> comprehensible<00:12:30.530> VMs<00:12:31.100> on<00:12:31.280> two 00:12:31.870 --> 00:12:31.880 align:start position:0% mutually comprehensible VMs on two 00:12:31.880 --> 00:12:33.460 align:start position:0% mutually comprehensible VMs on two different<00:12:32.060> chains<00:12:32.480> you<00:12:32.750> can<00:12:32.780> relay<00:12:33.200> code 00:12:33.460 --> 00:12:33.470 align:start position:0% different chains you can relay code 00:12:33.470 --> 00:12:35.470 align:start position:0% different chains you can relay code between<00:12:33.680> them<00:12:34.010> through<00:12:34.160> IBC<00:12:34.640> and<00:12:34.850> you<00:12:35.330> could 00:12:35.470 --> 00:12:35.480 align:start position:0% between them through IBC and you could 00:12:35.480 --> 00:12:39.400 align:start position:0% between them through IBC and you could use<00:12:35.690> this<00:12:35.900> two<00:12:36.230> alongside<00:12:36.710> a<00:12:38.290> algorithm<00:12:39.290> for 00:12:39.400 --> 00:12:39.410 align:start position:0% use this two alongside a algorithm for 00:12:39.410 --> 00:12:41.170 align:start position:0% use this two alongside a algorithm for determining<00:12:39.860> how<00:12:40.040> to<00:12:40.070> relay<00:12:40.490> code<00:12:40.730> over<00:12:41.000> time 00:12:41.170 --> 00:12:41.180 align:start position:0% determining how to relay code over time 00:12:41.180 --> 00:12:43.300 align:start position:0% determining how to relay code over time maybe<00:12:41.510> some<00:12:42.050> sort<00:12:42.200> of<00:12:42.260> load<00:12:42.440> bouncing<00:12:42.920> you 00:12:43.300 --> 00:12:43.310 align:start position:0% maybe some sort of load bouncing you 00:12:43.310 --> 00:12:44.800 align:start position:0% maybe some sort of load bouncing you could<00:12:43.490> use<00:12:43.640> this<00:12:43.790> to<00:12:43.970> create<00:12:44.120> protocols<00:12:44.480> which 00:12:44.800 --> 00:12:44.810 align:start position:0% could use this to create protocols which 00:12:44.810 --> 00:12:46.780 align:start position:0% could use this to create protocols which look<00:12:45.020> like<00:12:45.050> charting<00:12:45.590> but<00:12:46.160> they<00:12:46.280> still<00:12:46.550> have 00:12:46.780 --> 00:12:46.790 align:start position:0% look like charting but they still have 00:12:46.790 --> 00:12:49.030 align:start position:0% look like charting but they still have this<00:12:46.970> local<00:12:47.360> security<00:12:47.900> reasoning<00:12:48.530> you<00:12:48.890> only 00:12:49.030 --> 00:12:49.040 align:start position:0% this local security reasoning you only 00:12:49.040 --> 00:12:51.190 align:start position:0% this local security reasoning you only need<00:12:49.310> to<00:12:49.430> reason<00:12:49.730> about<00:12:49.820> the<00:12:50.780> block<00:12:50.960> chains 00:12:51.190 --> 00:12:51.200 align:start position:0% need to reason about the block chains 00:12:51.200 --> 00:12:53.710 align:start position:0% need to reason about the block chains you're<00:12:51.410> directly<00:12:51.860> talking<00:12:52.100> to<00:12:52.370> IB<00:12:52.670> /<00:12:53.060> IBC<00:12:53.480> no 00:12:53.710 --> 00:12:53.720 align:start position:0% you're directly talking to IB / IBC no 00:12:53.720 --> 00:12:54.850 align:start position:0% you're directly talking to IB / IBC no one<00:12:53.870> needs<00:12:54.020> to<00:12:54.140> reason<00:12:54.350> about<00:12:54.470> the<00:12:54.620> topology 00:12:54.850 --> 00:12:54.860 align:start position:0% one needs to reason about the topology 00:12:54.860 --> 00:12:58.510 align:start position:0% one needs to reason about the topology of<00:12:55.100> the<00:12:55.220> whole<00:12:55.370> network<00:12:56.890> all<00:12:57.890> of<00:12:58.100> this<00:12:58.190> work<00:12:58.400> is 00:12:58.510 --> 00:12:58.520 align:start position:0% of the whole network all of this work is 00:12:58.520 --> 00:13:01.210 align:start position:0% of the whole network all of this work is online<00:12:58.670> you<00:12:59.060> can<00:12:59.720> find<00:12:59.960> it<00:13:00.140> at<00:13:00.290> github<00:13:00.680> comm 00:13:01.210 --> 00:13:01.220 align:start position:0% online you can find it at github comm 00:13:01.220 --> 00:13:03.760 align:start position:0% online you can find it at github comm slash<00:13:01.550> cosmos<00:13:02.060> left<00:13:02.270> ICS<00:13:02.750> we<00:13:03.440> recently 00:13:03.760 --> 00:13:03.770 align:start position:0% slash cosmos left ICS we recently 00:13:03.770 --> 00:13:06.430 align:start position:0% slash cosmos left ICS we recently release<00:13:04.280> released<00:13:04.850> candidate<00:13:05.420> for<00:13:05.810> of<00:13:06.080> the 00:13:06.430 --> 00:13:06.440 align:start position:0% release released candidate for of the 00:13:06.440 --> 00:13:08.740 align:start position:0% release released candidate for of the IVC<00:13:06.890> spec<00:13:07.190> I<00:13:07.460> would<00:13:07.910> stress<00:13:08.210> that<00:13:08.240> it's<00:13:08.540> not 00:13:08.740 --> 00:13:08.750 align:start position:0% IVC spec I would stress that it's not 00:13:08.750 --> 00:13:12.310 align:start position:0% IVC spec I would stress that it's not done<00:13:09.490> we<00:13:10.490> are<00:13:10.760> waiting<00:13:11.120> on<00:13:11.420> a<00:13:11.480> few<00:13:11.870> auditors<00:13:12.290> to 00:13:12.310 --> 00:13:12.320 align:start position:0% done we are waiting on a few auditors to 00:13:12.320 --> 00:13:14.770 align:start position:0% done we are waiting on a few auditors to get<00:13:12.620> back<00:13:12.800> to<00:13:12.950> us<00:13:12.980> and<00:13:13.340> of<00:13:14.030> course<00:13:14.270> welcome<00:13:14.540> any 00:13:14.770 --> 00:13:14.780 align:start position:0% get back to us and of course welcome any 00:13:14.780 --> 00:13:16.390 align:start position:0% get back to us and of course welcome any feedback<00:13:14.960> or<00:13:15.350> questions<00:13:15.740> trying<00:13:16.040> to<00:13:16.190> test 00:13:16.390 --> 00:13:16.400 align:start position:0% feedback or questions trying to test 00:13:16.400 --> 00:13:19.060 align:start position:0% feedback or questions trying to test with<00:13:16.640> several<00:13:16.910> possible<00:13:17.620> block<00:13:18.620> chains<00:13:18.860> which 00:13:19.060 --> 00:13:19.070 align:start position:0% with several possible block chains which 00:13:19.070 --> 00:13:21.850 align:start position:0% with several possible block chains which aim<00:13:19.190> to<00:13:19.250> utilize<00:13:19.610> IBC<00:13:20.030> but<00:13:20.780> it<00:13:21.080> is<00:13:21.320> definitely 00:13:21.850 --> 00:13:21.860 align:start position:0% aim to utilize IBC but it is definitely 00:13:21.860 --> 00:13:23.440 align:start position:0% aim to utilize IBC but it is definitely in<00:13:21.890> a<00:13:22.100> state<00:13:22.340> where<00:13:22.610> you<00:13:22.670> can<00:13:22.850> read<00:13:23.150> it<00:13:23.300> and 00:13:23.440 --> 00:13:23.450 align:start position:0% in a state where you can read it and 00:13:23.450 --> 00:13:24.610 align:start position:0% in a state where you can read it and understand 00:13:24.610 --> 00:13:24.620 align:start position:0% understand 00:13:24.620 --> 00:13:25.660 align:start position:0% understand what<00:13:24.710> we're<00:13:24.860> trying<00:13:24.980> to<00:13:25.160> achieve<00:13:25.250> with<00:13:25.430> this 00:13:25.660 --> 00:13:25.670 align:start position:0% what we're trying to achieve with this 00:13:25.670 --> 00:13:28.090 align:start position:0% what we're trying to achieve with this protocol<00:13:26.060> why<00:13:26.360> it<00:13:26.420> fulfills<00:13:26.960> that<00:13:27.800> design 00:13:28.090 --> 00:13:28.100 align:start position:0% protocol why it fulfills that design 00:13:28.100 --> 00:13:30.370 align:start position:0% protocol why it fulfills that design criteria<00:13:28.640> of<00:13:28.970> modularity<00:13:29.510> locality<00:13:30.260> and 00:13:30.370 --> 00:13:30.380 align:start position:0% criteria of modularity locality and 00:13:30.380 --> 00:13:32.380 align:start position:0% criteria of modularity locality and composability<00:13:30.830> and<00:13:31.220> how<00:13:31.850> you<00:13:31.910> can<00:13:32.270> get 00:13:32.380 --> 00:13:32.390 align:start position:0% composability and how you can get 00:13:32.390 --> 00:13:40.270 align:start position:0% composability and how you can get involved<00:13:32.840> and<00:13:33.020> help<00:13:33.280> so<00:13:34.280> please<00:13:34.640> do<00:13:39.100> you<00:13:40.100> found 00:13:40.270 --> 00:13:40.280 align:start position:0% involved and help so please do you found 00:13:40.280 --> 00:13:43.150 align:start position:0% involved and help so please do you found a<00:13:40.370> star<00:13:40.550> thank<00:13:41.030> you 00:13:43.150 --> 00:13:43.160 align:start position:0% a star thank you 00:13:43.160 --> 00:13:52.310 align:start position:0% a star thank you [Applause] 00:13:52.310 --> 00:13:52.320 align:start position:0% 00:13:52.320 --> 00:13:54.380 align:start position:0% you