WEBVTT Kind: captions Language: en 00:00:05.070 --> 00:00:16.590 align:start position:0% [Music] 00:00:16.590 --> 00:00:16.600 align:start position:0% 00:00:16.600 --> 00:00:20.230 align:start position:0% hi<00:00:17.359> my<00:00:17.480> name<00:00:17.640> is<00:00:17.800> petuk<00:00:18.520> I<00:00:18.600> work<00:00:18.800> at<00:00:19.160> imop<00:00:20.160> and 00:00:20.230 --> 00:00:20.240 align:start position:0% hi my name is petuk I work at imop and 00:00:20.240 --> 00:00:22.429 align:start position:0% hi my name is petuk I work at imop and I'm<00:00:20.400> going<00:00:20.560> to<00:00:20.720> present<00:00:20.960> you<00:00:21.119> our<00:00:21.400> approach<00:00:21.760> to 00:00:22.429 --> 00:00:22.439 align:start position:0% I'm going to present you our approach to 00:00:22.439 --> 00:00:24.070 align:start position:0% I'm going to present you our approach to nanop 00:00:24.070 --> 00:00:24.080 align:start position:0% nanop 00:00:24.080 --> 00:00:26.390 align:start position:0% nanop payments 00:00:26.390 --> 00:00:26.400 align:start position:0% payments 00:00:26.400 --> 00:00:29.189 align:start position:0% payments in<00:00:27.400> ethereum<00:00:28.199> and<00:00:28.400> how<00:00:28.560> we<00:00:28.679> believe<00:00:28.960> they<00:00:29.080> can 00:00:29.189 --> 00:00:29.199 align:start position:0% in ethereum and how we believe they can 00:00:29.199 --> 00:00:30.870 align:start position:0% in ethereum and how we believe they can be<00:00:29.359> implemented 00:00:30.870 --> 00:00:30.880 align:start position:0% be implemented 00:00:30.880 --> 00:00:34.150 align:start position:0% be implemented uh<00:00:31.279> by<00:00:31.480> Nano<00:00:31.759> payments<00:00:32.320> we<00:00:33.320> understand 00:00:34.150 --> 00:00:34.160 align:start position:0% uh by Nano payments we understand 00:00:34.160 --> 00:00:36.709 align:start position:0% uh by Nano payments we understand payments<00:00:34.640> that<00:00:35.000> are<00:00:36.000> two<00:00:36.239> orders<00:00:36.559> of 00:00:36.709 --> 00:00:36.719 align:start position:0% payments that are two orders of 00:00:36.719 --> 00:00:38.910 align:start position:0% payments that are two orders of magnitude<00:00:37.280> smaller<00:00:37.680> than<00:00:38.200> typical<00:00:38.600> micro 00:00:38.910 --> 00:00:38.920 align:start position:0% magnitude smaller than typical micro 00:00:38.920 --> 00:00:40.830 align:start position:0% magnitude smaller than typical micro payments<00:00:39.399> it's<00:00:39.559> not<00:00:39.719> a<00:00:39.879> formal<00:00:40.440> definition 00:00:40.830 --> 00:00:40.840 align:start position:0% payments it's not a formal definition 00:00:40.840 --> 00:00:42.350 align:start position:0% payments it's not a formal definition but<00:00:40.960> we<00:00:41.079> believe<00:00:41.360> that<00:00:41.719> typical<00:00:42.079> micro 00:00:42.350 --> 00:00:42.360 align:start position:0% but we believe that typical micro 00:00:42.360 --> 00:00:46.110 align:start position:0% but we believe that typical micro payment<00:00:42.640> is<00:00:42.760> a<00:00:42.879> payment<00:00:43.360> under<00:00:44.239> uh 00:00:46.110 --> 00:00:46.120 align:start position:0% payment is a payment under uh 00:00:46.120 --> 00:00:49.069 align:start position:0% payment is a payment under uh $10<00:00:47.120> uh<00:00:47.280> we<00:00:47.440> came<00:00:47.640> across<00:00:48.000> this<00:00:48.280> problem<00:00:48.879> when 00:00:49.069 --> 00:00:49.079 align:start position:0% $10 uh we came across this problem when 00:00:49.079 --> 00:00:53.630 align:start position:0% $10 uh we came across this problem when we<00:00:49.239> tried<00:00:49.920> to<00:00:51.039> implement<00:00:52.039> uh<00:00:52.800> parts<00:00:53.079> of<00:00:53.239> our 00:00:53.630 --> 00:00:53.640 align:start position:0% we tried to implement uh parts of our 00:00:53.640 --> 00:00:56.470 align:start position:0% we tried to implement uh parts of our project<00:00:54.120> the<00:00:54.239> Golem<00:00:54.680> project<00:00:55.680> which<00:00:55.840> is<00:00:56.039> a 00:00:56.470 --> 00:00:56.480 align:start position:0% project the Golem project which is a 00:00:56.480 --> 00:00:58.869 align:start position:0% project the Golem project which is a distributed<00:00:57.440> superc<00:00:57.800> computer<00:00:58.320> in<00:00:58.440> fact<00:00:58.640> it's 00:00:58.869 --> 00:00:58.879 align:start position:0% distributed superc computer in fact it's 00:00:58.879 --> 00:01:00.950 align:start position:0% distributed superc computer in fact it's a<00:00:59.079> distributed<00:00:59.600> peer<00:00:59.760> to<00:01:00.199> Network<00:01:00.559> where<00:01:00.719> each 00:01:00.950 --> 00:01:00.960 align:start position:0% a distributed peer to Network where each 00:01:00.960 --> 00:01:04.549 align:start position:0% a distributed peer to Network where each node<00:01:01.960> can<00:01:02.199> participate<00:01:03.079> both<00:01:03.320> as<00:01:03.440> a<00:01:04.119> computer 00:01:04.549 --> 00:01:04.559 align:start position:0% node can participate both as a computer 00:01:04.559 --> 00:01:07.270 align:start position:0% node can participate both as a computer and<00:01:04.720> as<00:01:04.799> a<00:01:04.920> task<00:01:05.159> Center<00:01:06.040> and<00:01:06.200> each<00:01:06.400> Noe<00:01:07.119> uh 00:01:07.270 --> 00:01:07.280 align:start position:0% and as a task Center and each Noe uh 00:01:07.280 --> 00:01:08.749 align:start position:0% and as a task Center and each Noe uh taking<00:01:07.640> part<00:01:07.880> is<00:01:08.080> computation<00:01:08.479> should<00:01:08.640> be 00:01:08.749 --> 00:01:08.759 align:start position:0% taking part is computation should be 00:01:08.759 --> 00:01:13.230 align:start position:0% taking part is computation should be able<00:01:08.960> to<00:01:09.600> receive<00:01:10.640> payment<00:01:11.640> uh 00:01:13.230 --> 00:01:13.240 align:start position:0% able to receive payment uh 00:01:13.240 --> 00:01:16.670 align:start position:0% able to receive payment uh eventually<00:01:14.240> and<00:01:15.240> uh<00:01:15.560> this<00:01:15.960> results<00:01:16.280> in<00:01:16.400> nanop 00:01:16.670 --> 00:01:16.680 align:start position:0% eventually and uh this results in nanop 00:01:16.680 --> 00:01:20.429 align:start position:0% eventually and uh this results in nanop payment<00:01:17.040> because<00:01:17.680> tasks<00:01:18.040> can<00:01:18.200> be<00:01:18.400> split<00:01:19.439> into 00:01:20.429 --> 00:01:20.439 align:start position:0% payment because tasks can be split into 00:01:20.439 --> 00:01:23.350 align:start position:0% payment because tasks can be split into uh<00:01:20.759> pretty<00:01:21.240> small<00:01:22.240> uh<00:01:22.479> pretty<00:01:22.840> substantial 00:01:23.350 --> 00:01:23.360 align:start position:0% uh pretty small uh pretty substantial 00:01:23.360 --> 00:01:25.390 align:start position:0% uh pretty small uh pretty substantial amount<00:01:23.960> for<00:01:24.119> example<00:01:24.640> single<00:01:24.960> task<00:01:25.200> can<00:01:25.280> be 00:01:25.390 --> 00:01:25.400 align:start position:0% amount for example single task can be 00:01:25.400 --> 00:01:28.550 align:start position:0% amount for example single task can be split<00:01:25.680> into<00:01:26.360> up<00:01:26.520> to<00:01:26.640> 10,000<00:01:27.200> tasks<00:01:27.920> where<00:01:28.400> a 00:01:28.550 --> 00:01:28.560 align:start position:0% split into up to 10,000 tasks where a 00:01:28.560 --> 00:01:32.550 align:start position:0% split into up to 10,000 tasks where a cost<00:01:28.759> of<00:01:28.920> one<00:01:29.159> task<00:01:29.439> is<00:01:29.640> below<00:01:30.280> $1<00:01:31.280> we<00:01:31.439> try<00:01:31.720> to 00:01:32.550 --> 00:01:32.560 align:start position:0% cost of one task is below $1 we try to 00:01:32.560 --> 00:01:36.469 align:start position:0% cost of one task is below $1 we try to achieve<00:01:33.560> task<00:01:34.360> payments<00:01:34.799> as<00:01:34.920> small<00:01:35.200> as<00:01:35.360> 1<00:01:35.600> cent 00:01:36.469 --> 00:01:36.479 align:start position:0% achieve task payments as small as 1 cent 00:01:36.479 --> 00:01:38.749 align:start position:0% achieve task payments as small as 1 cent for<00:01:36.640> a<00:01:36.799> simple<00:01:37.280> simple<00:01:37.560> sub<00:01:37.880> task<00:01:38.479> but<00:01:38.600> we 00:01:38.749 --> 00:01:38.759 align:start position:0% for a simple simple sub task but we 00:01:38.759 --> 00:01:40.590 align:start position:0% for a simple simple sub task but we believe<00:01:39.079> that<00:01:39.240> we<00:01:39.320> can<00:01:39.560> approach<00:01:40.119> even<00:01:40.399> one 00:01:40.590 --> 00:01:40.600 align:start position:0% believe that we can approach even one 00:01:40.600 --> 00:01:43.670 align:start position:0% believe that we can approach even one cent<00:01:40.880> of<00:01:41.000> a<00:01:41.320> scent<00:01:42.320> uh<00:01:42.560> to<00:01:42.759> make<00:01:42.960> it<00:01:43.240> attractive 00:01:43.670 --> 00:01:43.680 align:start position:0% cent of a scent uh to make it attractive 00:01:43.680 --> 00:01:46.109 align:start position:0% cent of a scent uh to make it attractive to<00:01:43.799> users<00:01:44.159> we<00:01:44.280> believe<00:01:44.600> that<00:01:45.159> cost<00:01:45.479> of<00:01:45.680> renting 00:01:46.109 --> 00:01:46.119 align:start position:0% to users we believe that cost of renting 00:01:46.119 --> 00:01:50.870 align:start position:0% to users we believe that cost of renting qu<00:01:46.320> CPU<00:01:46.640> core<00:01:47.040> shouldn't<00:01:47.840> exceed<00:01:48.840> 5<00:01:49.719> cents<00:01:50.719> on 00:01:50.870 --> 00:01:50.880 align:start position:0% qu CPU core shouldn't exceed 5 cents on 00:01:50.880 --> 00:01:52.469 align:start position:0% qu CPU core shouldn't exceed 5 cents on average<00:01:51.200> per 00:01:52.469 --> 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that the<00:01:57.719> transaction<00:01:58.159> fees<00:01:58.439> are<00:01:58.640> below<00:01:59.000> the<00:01:59.159> 5%<00:01:59.600> of 00:01:59.709 --> 00:01:59.719 align:start position:0% the transaction fees are below the 5% of 00:01:59.719 --> 00:02:02.789 align:start position:0% the transaction fees are below the 5% of the<00:02:00.119> total<00:02:00.360> task<00:02:00.759> value<00:02:01.759> uh<00:02:01.960> framework<00:02:02.560> should 00:02:02.789 --> 00:02:02.799 align:start position:0% the total task value uh framework should 00:02:02.799 --> 00:02:06.429 align:start position:0% the total task value uh framework should not<00:02:03.719> require<00:02:04.280> any<00:02:04.799> Central<00:02:05.240> Authority<00:02:06.119> and 00:02:06.429 --> 00:02:06.439 align:start position:0% not require any Central Authority and 00:02:06.439 --> 00:02:08.469 align:start position:0% not require any Central Authority and trusted<00:02:06.759> Authority<00:02:07.200> everything<00:02:07.479> should<00:02:07.680> work 00:02:08.469 --> 00:02:08.479 align:start position:0% trusted Authority everything should work 00:02:08.479 --> 00:02:11.270 align:start position:0% trusted Authority everything should work inside<00:02:09.119> the<00:02:10.119> peer-to-peer<00:02:10.520> Network<00:02:11.000> Golem 00:02:11.270 --> 00:02:11.280 align:start position:0% inside the peer-to-peer Network Golem 00:02:11.280 --> 00:02:13.470 align:start position:0% inside the peer-to-peer Network Golem Network<00:02:11.640> and<00:02:12.040> in<00:02:12.280> fact<00:02:12.599> also<00:02:12.840> an<00:02:13.000> ethereum 00:02:13.470 --> 00:02:13.480 align:start position:0% Network and in fact also an ethereum 00:02:13.480 --> 00:02:16.670 align:start position:0% Network and in fact also an ethereum Network<00:02:14.800> users<00:02:15.800> Computing<00:02:16.200> notes<00:02:16.440> shouldn't 00:02:16.670 --> 00:02:16.680 align:start position:0% Network users Computing notes shouldn't 00:02:16.680 --> 00:02:19.869 align:start position:0% Network users Computing notes shouldn't be<00:02:16.840> required<00:02:17.560> to<00:02:18.560> stay<00:02:18.840> online<00:02:19.480> at<00:02:19.680> any 00:02:19.869 --> 00:02:19.879 align:start position:0% be required to stay online at any 00:02:19.879 --> 00:02:22.589 align:start position:0% be required to stay online at any specific<00:02:20.319> times<00:02:20.879> for<00:02:21.080> example<00:02:21.440> due<00:02:21.640> to 00:02:22.589 --> 00:02:22.599 align:start position:0% specific times for example due to 00:02:22.599 --> 00:02:24.470 align:start position:0% specific times for example due to changes<00:02:23.000> in<00:02:23.200> time<00:02:23.400> zones<00:02:24.040> they<00:02:24.160> should<00:02:24.360> be 00:02:24.470 --> 00:02:24.480 align:start position:0% changes in time zones they should be 00:02:24.480 --> 00:02:27.110 align:start position:0% changes in time zones they should be able<00:02:24.879> nevertheless<00:02:25.879> to<00:02:26.200> get<00:02:26.360> their<00:02:26.599> payments 00:02:27.110 --> 00:02:27.120 align:start position:0% able nevertheless to get their payments 00:02:27.120 --> 00:02:29.550 align:start position:0% able nevertheless to get their payments at<00:02:27.280> some<00:02:27.480> point<00:02:28.120> even<00:02:28.319> if<00:02:28.440> they're<00:02:28.680> offline 00:02:29.550 --> 00:02:29.560 align:start position:0% at some point even if they're offline 00:02:29.560 --> 00:02:32.670 align:start position:0% at some point even if they're offline and<00:02:29.920> ideally<00:02:30.239> would<00:02:30.400> like<00:02:31.040> to<00:02:32.040> skip<00:02:32.440> any 00:02:32.670 --> 00:02:32.680 align:start position:0% and ideally would like to skip any 00:02:32.680 --> 00:02:34.190 align:start position:0% and ideally would like to skip any payments<00:02:33.080> from<00:02:33.280> users<00:02:33.599> so<00:02:33.760> that<00:02:33.879> they<00:02:34.000> don't 00:02:34.190 --> 00:02:34.200 align:start position:0% payments from users so that they don't 00:02:34.200 --> 00:02:37.790 align:start position:0% payments from users so that they don't have<00:02:34.319> to<00:02:34.440> pay<00:02:34.599> up<00:02:34.800> front<00:02:35.160> any<00:02:35.319> FS<00:02:35.879> to<00:02:36.160> start<00:02:36.400> a 00:02:37.790 --> 00:02:37.800 align:start position:0% have to pay up front any FS to start a 00:02:37.800 --> 00:02:39.790 align:start position:0% have to pay up front any FS to start a computation<00:02:38.800> We<00:02:38.959> Believe<00:02:39.239> also<00:02:39.440> that<00:02:39.560> nanop 00:02:39.790 --> 00:02:39.800 align:start position:0% computation We Believe also that nanop 00:02:39.800 --> 00:02:41.630 align:start position:0% computation We Believe also that nanop payments<00:02:40.120> can<00:02:40.239> be<00:02:40.360> used<00:02:40.560> in<00:02:40.680> other<00:02:41.040> scenarios 00:02:41.630 --> 00:02:41.640 align:start position:0% payments can be used in other scenarios 00:02:41.640 --> 00:02:43.910 align:start position:0% payments can be used in other scenarios for<00:02:41.800> example<00:02:42.400> paying<00:02:42.640> for<00:02:42.879> articles<00:02:43.480> or<00:02:43.680> for 00:02:43.910 --> 00:02:43.920 align:start position:0% for example paying for articles or for 00:02:43.920 --> 00:02:45.949 align:start position:0% for example paying for articles or for streaming<00:02:44.400> content<00:02:45.159> paying<00:02:45.440> directly<00:02:45.800> to 00:02:45.949 --> 00:02:45.959 align:start position:0% streaming content paying directly to 00:02:45.959 --> 00:02:49.390 align:start position:0% streaming content paying directly to artist<00:02:46.280> or<00:02:46.440> for<00:02:46.800> likes<00:02:47.640> on<00:02:47.840> social<00:02:48.200> media<00:02:49.200> also 00:02:49.390 --> 00:02:49.400 align:start position:0% artist or for likes on social media also 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but there are many more 00:02:56.550 --> 00:02:56.560 align:start position:0% more 00:02:56.560 --> 00:02:59.550 align:start position:0% more ideas<00:02:57.560> uh<00:02:58.239> why<00:02:58.400> we<00:02:58.560> believe<00:02:58.840> etherum<00:02:59.280> is<00:02:59.440> the 00:02:59.550 --> 00:02:59.560 align:start position:0% ideas uh why we believe etherum is the 00:02:59.560 --> 00:03:00.869 align:start position:0% ideas uh why we believe etherum is the solution 00:03:00.869 --> 00:03:00.879 align:start position:0% solution 00:03:00.879 --> 00:03:04.430 align:start position:0% solution well<00:03:01.720> traditional<00:03:02.480> payment<00:03:02.959> systems<00:03:03.959> are 00:03:04.430 --> 00:03:04.440 align:start position:0% well traditional payment systems are 00:03:04.440 --> 00:03:07.550 align:start position:0% well traditional payment systems are simply<00:03:04.840> too<00:03:05.120> costly<00:03:05.720> and<00:03:06.720> they<00:03:06.920> require 00:03:07.550 --> 00:03:07.560 align:start position:0% simply too costly and they require 00:03:07.560 --> 00:03:10.070 align:start position:0% simply too costly and they require additional<00:03:08.120> ISM<00:03:09.000> trusted<00:03:09.640> Central 00:03:10.070 --> 00:03:10.080 align:start position:0% additional ISM trusted Central 00:03:10.080 --> 00:03:12.030 align:start position:0% additional ISM trusted Central authorities<00:03:10.879> we<00:03:11.000> don't<00:03:11.200> want<00:03:11.360> to<00:03:11.480> trust<00:03:11.799> them 00:03:12.030 --> 00:03:12.040 align:start position:0% authorities we don't want to trust them 00:03:12.040 --> 00:03:14.350 align:start position:0% authorities we don't want to trust them well<00:03:12.239> people<00:03:13.200> wouldn't<00:03:13.519> have<00:03:13.680> to<00:03:13.799> trust<00:03:14.080> them 00:03:14.350 --> 00:03:14.360 align:start position:0% well people wouldn't have to trust them 00:03:14.360 --> 00:03:16.470 align:start position:0% well people wouldn't have to trust them because<00:03:14.560> there<00:03:14.680> are<00:03:14.799> some<00:03:15.120> Central<00:03:16.120> Central 00:03:16.470 --> 00:03:16.480 align:start position:0% because there are some Central Central 00:03:16.480 --> 00:03:18.830 align:start position:0% because there are some Central Central and<00:03:16.720> external<00:03:17.080> authorities<00:03:17.640> that<00:03:18.480> work 00:03:18.830 --> 00:03:18.840 align:start position:0% and external authorities that work 00:03:18.840 --> 00:03:21.390 align:start position:0% and external authorities that work outside<00:03:19.200> of<00:03:19.319> the<00:03:19.799> network<00:03:20.799> additionally<00:03:21.280> we 00:03:21.390 --> 00:03:21.400 align:start position:0% outside of the network additionally we 00:03:21.400 --> 00:03:24.830 align:start position:0% outside of the network additionally we have<00:03:21.519> Bitcoin<00:03:22.239> which<00:03:22.879> up<00:03:23.040> to<00:03:23.200> some<00:03:23.440> point<00:03:24.440> can 00:03:24.830 --> 00:03:24.840 align:start position:0% have Bitcoin which up to some point can 00:03:24.840 --> 00:03:28.390 align:start position:0% have Bitcoin which up to some point can solve<00:03:25.159> our<00:03:25.840> problem<00:03:26.840> but<00:03:27.200> first<00:03:27.440> of<00:03:27.599> all<00:03:27.920> it 00:03:28.390 --> 00:03:28.400 align:start position:0% solve our problem but first of all it 00:03:28.400 --> 00:03:30.910 align:start position:0% solve our problem but first of all it requires<00:03:29.319> additional<00:03:29.840> payments<00:03:30.120> for<00:03:30.319> D 00:03:30.910 --> 00:03:30.920 align:start position:0% requires additional payments for D 00:03:30.920 --> 00:03:33.470 align:start position:0% requires additional payments for D transactions<00:03:31.920> additionally<00:03:32.439> there<00:03:32.560> are<00:03:32.720> some 00:03:33.470 --> 00:03:33.480 align:start position:0% transactions additionally there are some 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00:03:43.920 align:start position:0% blocks possibly we could overcome these 00:03:43.920 --> 00:03:46.110 align:start position:0% blocks possibly we could overcome these problems<00:03:44.239> in<00:03:44.400> Bitcoin<00:03:44.760> network<00:03:45.120> but<00:03:45.239> we<00:03:45.439> also 00:03:46.110 --> 00:03:46.120 align:start position:0% problems in Bitcoin network but we also 00:03:46.120 --> 00:03:48.350 align:start position:0% problems in Bitcoin network but we also believe<00:03:46.560> that<00:03:47.239> additional<00:03:47.680> logic<00:03:48.040> would<00:03:48.200> be 00:03:48.350 --> 00:03:48.360 align:start position:0% believe that additional logic would be 00:03:48.360 --> 00:03:51.110 align:start position:0% believe that additional logic would be implemented<00:03:48.959> in<00:03:49.439> a<00:03:49.640> contract<00:03:50.599> attached<00:03:50.959> to 00:03:51.110 --> 00:03:51.120 align:start position:0% implemented in a contract attached to 00:03:51.120 --> 00:03:53.190 align:start position:0% implemented in a contract attached to Golem<00:03:52.120> which<00:03:52.319> makes 00:03:53.190 --> 00:03:53.200 align:start position:0% Golem which makes 00:03:53.200 --> 00:03:56.390 align:start position:0% Golem which makes Bitcoin<00:03:54.200> a<00:03:54.560> bad<00:03:54.799> choice<00:03:55.120> and<00:03:55.439> ethereum<00:03:56.200> the 00:03:56.390 --> 00:03:56.400 align:start position:0% Bitcoin a bad choice and ethereum the 00:03:56.400 --> 00:03:58.869 align:start position:0% Bitcoin a bad choice and ethereum the right<00:03:56.840> one<00:03:57.840> so<00:03:58.040> how<00:03:58.159> the<00:03:58.319> typical<00:03:58.640> payment 00:03:58.869 --> 00:03:58.879 align:start position:0% right one so how the typical payment 00:03:58.879 --> 00:04:01.470 align:start position:0% right one so how the typical payment scenarios<00:03:59.239> look<00:03:59.439> like 00:04:01.470 --> 00:04:01.480 align:start position:0% scenarios look like 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best solution<00:04:09.599> because<00:04:09.879> they<00:04:10.000> would<00:04:10.400> solve<00:04:10.799> the 00:04:10.990 --> 00:04:11.000 align:start position:0% solution because they would solve the 00:04:11.000 --> 00:04:16.310 align:start position:0% solution because they would solve the problem<00:04:11.959> to<00:04:12.280> in<00:04:12.959> simply<00:04:13.920> but<00:04:14.799> they<00:04:15.200> require<00:04:16.120> uh 00:04:16.310 --> 00:04:16.320 align:start position:0% problem to in simply but they require uh 00:04:16.320 --> 00:04:18.590 align:start position:0% problem to in simply but they require uh the<00:04:16.560> external<00:04:17.160> servers<00:04:17.680> and<00:04:18.199> additional 00:04:18.590 --> 00:04:18.600 align:start position:0% the external servers and additional 00:04:18.600 --> 00:04:21.069 align:start position:0% the external servers and additional Authority<00:04:19.359> something<00:04:19.799> which<00:04:19.919> is<00:04:20.199> of<00:04:20.440> the 00:04:21.069 --> 00:04:21.079 align:start position:0% Authority something which is of the 00:04:21.079 --> 00:04:24.030 align:start position:0% Authority something which is of the network<00:04:21.840> both<00:04:22.120> Golem<00:04:22.479> and<00:04:22.639> ethereum<00:04:23.600> and<00:04:23.919> it 00:04:24.030 --> 00:04:24.040 align:start position:0% network both Golem and ethereum and it 00:04:24.040 --> 00:04:27.710 align:start position:0% network both Golem and ethereum and it is<00:04:24.199> not<00:04:24.560> feasible<00:04:25.000> in<00:04:25.120> our<00:04:26.080> scenario<00:04:27.040> bing<00:04:27.560> up 00:04:27.710 --> 00:04:27.720 align:start position:0% is not feasible in our scenario bing up 00:04:27.720 --> 00:04:29.830 align:start position:0% is not feasible in our scenario bing up to<00:04:27.840> some<00:04:28.080> point<00:04:28.479> solves<00:04:28.840> the<00:04:29.039> problem<00:04:29.520> but<00:04:29.720> but 00:04:29.830 --> 00:04:29.840 align:start position:0% to some point solves the problem but but 00:04:29.840 --> 00:04:32.950 align:start position:0% to some point solves the problem but but it's<00:04:29.919> not<00:04:30.080> scalable<00:04:31.080> well<00:04:31.639> it<00:04:32.639> direct 00:04:32.950 --> 00:04:32.960 align:start position:0% it's not scalable well it direct 00:04:32.960 --> 00:04:35.350 align:start position:0% it's not scalable well it direct transfer<00:04:33.440> costs<00:04:33.759> approximately<00:04:34.240> 21,000<00:04:34.960> gas 00:04:35.350 --> 00:04:35.360 align:start position:0% transfer costs approximately 21,000 gas 00:04:35.360 --> 00:04:38.110 align:start position:0% transfer costs approximately 21,000 gas right<00:04:35.520> now<00:04:35.919> or<00:04:36.120> even<00:04:36.479> exactly<00:04:37.440> and<00:04:37.680> batching 00:04:38.110 --> 00:04:38.120 align:start position:0% right now or even exactly and batching 00:04:38.120 --> 00:04:41.629 align:start position:0% right now or even exactly and batching is<00:04:38.880> two<00:04:39.240> up<00:04:39.400> to<00:04:39.560> three<00:04:39.800> times<00:04:40.440> cheaper<00:04:41.440> but 00:04:41.629 --> 00:04:41.639 align:start position:0% is two up to three times cheaper but 00:04:41.639 --> 00:04:43.510 align:start position:0% is two up to three times cheaper but that's<00:04:42.080> that's<00:04:42.240> it<00:04:42.600> you<00:04:42.759> cannot<00:04:43.080> get<00:04:43.360> any 00:04:43.510 --> 00:04:43.520 align:start position:0% that's that's it you cannot get any 00:04:43.520 --> 00:04:47.870 align:start position:0% that's that's it you cannot get any better<00:04:43.880> with<00:04:44.039> it<00:04:44.880> U<00:04:45.560> batching<00:04:46.560> boils<00:04:46.960> down<00:04:47.160> to 00:04:47.870 --> 00:04:47.880 align:start position:0% better with it U batching boils down to 00:04:47.880 --> 00:04:50.749 align:start position:0% better with it U batching boils down to initiating<00:04:48.600> all<00:04:48.880> transaction<00:04:49.520> just<00:04:49.720> with<00:04:49.960> one 00:04:50.749 --> 00:04:50.759 align:start position:0% initiating all transaction just with one 00:04:50.759 --> 00:04:54.350 align:start position:0% initiating all transaction just with one message<00:04:51.639> in<00:04:51.840> ethereum<00:04:52.360> it's<00:04:53.199> just<00:04:53.400> a<00:04:53.720> loop 00:04:54.350 --> 00:04:54.360 align:start position:0% message in ethereum it's just a loop 00:04:54.360 --> 00:04:57.430 align:start position:0% message in ethereum it's just a loop that<00:04:54.520> sends<00:04:55.520> uh<00:04:55.720> value<00:04:56.039> to<00:04:56.680> all 00:04:57.430 --> 00:04:57.440 align:start position:0% that sends uh value to all 00:04:57.440 --> 00:05:00.590 align:start position:0% that sends uh value to all users<00:04:58.440> very<00:04:58.639> promising<00:04:59.840> option<00:05:00.120> is<00:05:00.280> micro 00:05:00.590 --> 00:05:00.600 align:start position:0% users very promising option is micro 00:05:00.600 --> 00:05:02.270 align:start position:0% users very promising option is micro payment<00:05:00.840> channels<00:05:01.280> unfortunately<00:05:01.919> this 00:05:02.270 --> 00:05:02.280 align:start position:0% payment channels unfortunately this 00:05:02.280 --> 00:05:04.070 align:start position:0% payment channels unfortunately this requires<00:05:02.680> the<00:05:02.800> setting<00:05:03.160> when<00:05:03.320> two<00:05:03.520> parties 00:05:04.070 --> 00:05:04.080 align:start position:0% requires the setting when two parties 00:05:04.080 --> 00:05:05.510 align:start position:0% requires the setting when two parties cooperate<00:05:04.600> together<00:05:04.759> for<00:05:04.919> a<00:05:05.000> longer<00:05:05.240> period 00:05:05.510 --> 00:05:05.520 align:start position:0% cooperate together for a longer period 00:05:05.520 --> 00:05:09.029 align:start position:0% cooperate together for a longer period of<00:05:05.919> time<00:05:06.919> and<00:05:07.080> this<00:05:07.199> is<00:05:07.280> not<00:05:07.440> the<00:05:07.560> case<00:05:07.720> in<00:05:07.880> goem 00:05:09.029 --> 00:05:09.039 align:start position:0% of time and this is not the case in goem 00:05:09.039 --> 00:05:10.790 align:start position:0% of time and this is not the case in goem unfortunately<00:05:10.039> and<00:05:10.199> the<00:05:10.360> last<00:05:10.520> one 00:05:10.790 --> 00:05:10.800 align:start position:0% unfortunately and the last one 00:05:10.800 --> 00:05:12.670 align:start position:0% unfortunately and the last one probabilistic<00:05:11.360> payments<00:05:12.160> described<00:05:12.560> by 00:05:12.670 --> 00:05:12.680 align:start position:0% probabilistic payments described by 00:05:12.680 --> 00:05:16.029 align:start position:0% probabilistic payments described by vital<00:05:13.080> in<00:05:13.240> his<00:05:13.600> on<00:05:13.720> his<00:05:14.080> blog<00:05:15.080> uh<00:05:15.440> seems<00:05:15.840> very 00:05:16.029 --> 00:05:16.039 align:start position:0% vital in his on his blog uh seems very 00:05:16.039 --> 00:05:18.110 align:start position:0% vital in his on his blog uh seems very promising<00:05:16.720> unfortunately<00:05:17.320> it<00:05:17.479> requires 00:05:18.110 --> 00:05:18.120 align:start position:0% promising unfortunately it requires 00:05:18.120 --> 00:05:24.629 align:start position:0% promising unfortunately it requires users<00:05:19.120> to<00:05:20.280> send<00:05:21.479> large<00:05:22.479> amount<00:05:22.880> of<00:05:23.600> Val<00:05:24.039> value 00:05:24.629 --> 00:05:24.639 align:start position:0% users to send large amount of Val value 00:05:24.639 --> 00:05:26.990 align:start position:0% users to send large amount of Val value before<00:05:24.960> starting<00:05:25.360> the<00:05:25.600> calculation<00:05:26.600> and 00:05:26.990 --> 00:05:27.000 align:start position:0% before starting the calculation and 00:05:27.000 --> 00:05:29.710 align:start position:0% before starting the calculation and those<00:05:27.160> deposits<00:05:27.960> We<00:05:28.120> Believe<00:05:28.440> may<00:05:28.639> not<00:05:28.840> be 00:05:29.710 --> 00:05:29.720 align:start position:0% those deposits We Believe may not be 00:05:29.720 --> 00:05:32.670 align:start position:0% those deposits We Believe may not be acceptable<00:05:30.240> by<00:05:30.919> senders<00:05:31.880> who<00:05:32.199> simply<00:05:32.479> would 00:05:32.670 --> 00:05:32.680 align:start position:0% acceptable by senders who simply would 00:05:32.680 --> 00:05:34.950 align:start position:0% acceptable by senders who simply would like<00:05:32.880> to<00:05:33.520> pay<00:05:33.800> the<00:05:33.919> predefined<00:05:34.400> amount<00:05:34.680> of 00:05:34.950 --> 00:05:34.960 align:start position:0% like to pay the predefined amount of 00:05:34.960 --> 00:05:36.790 align:start position:0% like to pay the predefined amount of money<00:05:35.319> and<00:05:35.639> be<00:05:35.800> sure 00:05:36.790 --> 00:05:36.800 align:start position:0% money and be sure 00:05:36.800 --> 00:05:40.150 align:start position:0% money and be sure that<00:05:37.800> that's<00:05:38.199> enough<00:05:38.560> to<00:05:38.759> make<00:05:39.120> the<00:05:39.280> whole 00:05:40.150 --> 00:05:40.160 align:start position:0% that that's enough to make the whole 00:05:40.160 --> 00:05:43.390 align:start position:0% that that's enough to make the whole payment<00:05:41.160> so<00:05:41.880> how<00:05:42.080> it<00:05:42.199> looks<00:05:42.440> in 00:05:43.390 --> 00:05:43.400 align:start position:0% payment so how it looks in 00:05:43.400 --> 00:05:46.510 align:start position:0% payment so how it looks in ethereum<00:05:44.400> well<00:05:45.280> with<00:05:45.520> the<00:05:45.680> gas<00:05:45.880> price<00:05:46.080> and<00:05:46.199> it 00:05:46.510 --> 00:05:46.520 align:start position:0% ethereum well with the gas price and it 00:05:46.520 --> 00:05:48.390 align:start position:0% ethereum well with the gas price and it costs<00:05:46.800> at<00:05:46.960> the<00:05:47.080> level<00:05:47.440> presented<00:05:47.960> on<00:05:48.120> the 00:05:48.390 --> 00:05:48.400 align:start position:0% costs at the level presented on the 00:05:48.400 --> 00:05:50.749 align:start position:0% costs at the level presented on the slide<00:05:49.400> it<00:05:49.520> looks<00:05:49.720> like<00:05:49.880> this<00:05:50.039> direct<00:05:50.280> transfer 00:05:50.749 --> 00:05:50.759 align:start position:0% slide it looks like this direct transfer 00:05:50.759 --> 00:05:54.510 align:start position:0% slide it looks like this direct transfer cost<00:05:51.039> 21,000<00:05:51.840> gas<00:05:52.840> whereas<00:05:53.160> batching<00:05:53.680> cost 00:05:54.510 --> 00:05:54.520 align:start position:0% cost 21,000 gas whereas batching cost 00:05:54.520 --> 00:05:58.629 align:start position:0% cost 21,000 gas whereas batching cost 11,000<00:05:55.520> it's<00:05:55.639> an<00:05:55.840> improvement<00:05:56.919> but<00:05:57.919> it's<00:05:58.240> not 00:05:58.629 --> 00:05:58.639 align:start position:0% 11,000 it's an improvement but it's not 00:05:58.639 --> 00:06:00.990 align:start position:0% 11,000 it's an improvement but it's not enough<00:05:58.960> for<00:05:59.160> a<00:05:59.639> now<00:05:59.759> no<00:05:59.960> payments<00:06:00.680> micro 00:06:00.990 --> 00:06:01.000 align:start position:0% enough for a now no payments micro 00:06:01.000 --> 00:06:03.110 align:start position:0% enough for a now no payments micro payment<00:06:01.280> channel<00:06:01.600> would<00:06:01.840> work<00:06:02.520> provided<00:06:02.960> that 00:06:03.110 --> 00:06:03.120 align:start position:0% payment channel would work provided that 00:06:03.120 --> 00:06:05.430 align:start position:0% payment channel would work provided that we<00:06:03.280> could<00:06:04.160> establish<00:06:04.560> a<00:06:04.680> connection<00:06:05.080> between 00:06:05.430 --> 00:06:05.440 align:start position:0% we could establish a connection between 00:06:05.440 --> 00:06:08.110 align:start position:0% we could establish a connection between two<00:06:06.440> parties<00:06:07.240> which<00:06:07.400> we<00:06:07.599> unfortunately 00:06:08.110 --> 00:06:08.120 align:start position:0% two parties which we unfortunately 00:06:08.120 --> 00:06:11.550 align:start position:0% two parties which we unfortunately cannot<00:06:08.440> do<00:06:09.319> when<00:06:09.479> we<00:06:09.639> take<00:06:09.840> Golem<00:06:10.759> uh<00:06:11.319> into 00:06:11.550 --> 00:06:11.560 align:start position:0% cannot do when we take Golem uh into 00:06:11.560 --> 00:06:13.550 align:start position:0% cannot do when we take Golem uh into mind<00:06:12.120> probabilistic 00:06:13.550 --> 00:06:13.560 align:start position:0% mind probabilistic 00:06:13.560 --> 00:06:16.309 align:start position:0% mind probabilistic payments<00:06:14.560> would<00:06:14.840> work<00:06:15.400> unfortunately<00:06:16.199> there 00:06:16.309 --> 00:06:16.319 align:start position:0% payments would work unfortunately there 00:06:16.319 --> 00:06:20.469 align:start position:0% payments would work unfortunately there is<00:06:16.479> no<00:06:16.840> fixed<00:06:17.720> uh<00:06:17.880> cost<00:06:18.160> per<00:06:18.319> user<00:06:19.319> uh<00:06:20.039> expected 00:06:20.469 --> 00:06:20.479 align:start position:0% is no fixed uh cost per user uh expected 00:06:20.479 --> 00:06:22.350 align:start position:0% is no fixed uh cost per user uh expected cost<00:06:20.720> could<00:06:20.880> be<00:06:21.000> calculated<00:06:21.599> but<00:06:22.000> we're<00:06:22.160> not 00:06:22.350 --> 00:06:22.360 align:start position:0% cost could be calculated but we're not 00:06:22.360 --> 00:06:24.589 align:start position:0% cost could be calculated but we're not going<00:06:22.520> to<00:06:22.680> do<00:06:22.800> it 00:06:24.589 --> 00:06:24.599 align:start position:0% going to do it 00:06:24.599 --> 00:06:27.870 align:start position:0% going to do it here<00:06:25.599> our<00:06:25.960> minor<00:06:26.360> minor<00:06:26.680> improvement 00:06:27.870 --> 00:06:27.880 align:start position:0% here our minor minor improvement 00:06:27.880 --> 00:06:30.990 align:start position:0% here our minor minor improvement over<00:06:28.880> batching<00:06:29.400> is<00:06:30.000> sub<00:06:30.280> accounts<00:06:30.759> sub 00:06:30.990 --> 00:06:31.000 align:start position:0% over batching is sub accounts sub 00:06:31.000 --> 00:06:33.350 align:start position:0% over batching is sub accounts sub accounts<00:06:31.280> is<00:06:31.400> a<00:06:31.560> simple<00:06:32.400> smart<00:06:32.840> contract 00:06:33.350 --> 00:06:33.360 align:start position:0% accounts is a simple smart contract 00:06:33.360 --> 00:06:34.550 align:start position:0% accounts is a simple smart contract which 00:06:34.550 --> 00:06:34.560 align:start position:0% which 00:06:34.560 --> 00:06:36.870 align:start position:0% which establishes<00:06:35.560> uh<00:06:35.680> a<00:06:35.840> mapping<00:06:36.319> for<00:06:36.599> between 00:06:36.870 --> 00:06:36.880 align:start position:0% establishes uh a mapping for between 00:06:36.880 --> 00:06:40.070 align:start position:0% establishes uh a mapping for between addresses<00:06:37.280> and<00:06:37.880> values<00:06:38.880> and<00:06:39.400> sender 00:06:40.070 --> 00:06:40.080 align:start position:0% addresses and values and sender 00:06:40.080 --> 00:06:42.909 align:start position:0% addresses and values and sender transfers<00:06:40.919> values<00:06:41.919> sending<00:06:42.280> a<00:06:42.440> vector<00:06:42.720> of 00:06:42.909 --> 00:06:42.919 align:start position:0% transfers values sending a vector of 00:06:42.919 --> 00:06:47.070 align:start position:0% transfers values sending a vector of data<00:06:43.639> pairs<00:06:44.000> of<00:06:44.960> addresses<00:06:45.400> and<00:06:45.880> values<00:06:46.880> and 00:06:47.070 --> 00:06:47.080 align:start position:0% data pairs of addresses and values and 00:06:47.080 --> 00:06:50.390 align:start position:0% data pairs of addresses and values and they<00:06:47.520> accumulate<00:06:48.319> in<00:06:48.960> uh<00:06:49.160> those<00:06:50.039> accounts 00:06:50.390 --> 00:06:50.400 align:start position:0% they accumulate in uh those accounts 00:06:50.400 --> 00:06:52.350 align:start position:0% they accumulate in uh those accounts stored<00:06:50.720> in<00:06:50.840> the<00:06:50.960> contract<00:06:51.560> from<00:06:51.759> time<00:06:51.960> to<00:06:52.160> time 00:06:52.350 --> 00:06:52.360 align:start position:0% stored in the contract from time to time 00:06:52.360 --> 00:06:54.870 align:start position:0% stored in the contract from time to time and<00:06:52.520> users<00:06:52.880> can<00:06:53.160> cash<00:06:53.400> out<00:06:54.240> and<00:06:54.400> we<00:06:54.560> believe 00:06:54.870 --> 00:06:54.880 align:start position:0% and users can cash out and we believe 00:06:54.880 --> 00:06:56.710 align:start position:0% and users can cash out and we believe that<00:06:55.120> on<00:06:55.319> average<00:06:55.680> it<00:06:55.800> should<00:06:56.080> cost<00:06:56.520> cost 00:06:56.710 --> 00:06:56.720 align:start position:0% that on average it should cost cost 00:06:56.720 --> 00:07:00.189 align:start position:0% that on average it should cost cost 8,000<00:06:57.319> gas<00:06:57.560> per<00:06:57.720> user<00:06:58.560> which<00:06:59.360> give 00:07:00.189 --> 00:07:00.199 align:start position:0% 8,000 gas per user which give 00:07:00.199 --> 00:07:02.189 align:start position:0% 8,000 gas per user which give 5K<00:07:00.759> for<00:07:01.080> contract 00:07:02.189 --> 00:07:02.199 align:start position:0% 5K for contract 00:07:02.199 --> 00:07:05.270 align:start position:0% 5K for contract modification<00:07:03.199> uh<00:07:03.319> 2K<00:07:03.840> gas<00:07:04.080> for<00:07:04.280> sending 00:07:05.270 --> 00:07:05.280 align:start position:0% modification uh 2K gas for sending 00:07:05.280 --> 00:07:07.430 align:start position:0% modification uh 2K gas for sending message<00:07:05.560> to<00:07:05.720> the<00:07:05.840> contract<00:07:06.400> and<00:07:07.000> we<00:07:07.160> believe 00:07:07.430 --> 00:07:07.440 align:start position:0% message to the contract and we believe 00:07:07.440 --> 00:07:10.110 align:start position:0% message to the contract and we believe that<00:07:07.759> users<00:07:08.080> should<00:07:08.319> be<00:07:08.440> able<00:07:08.720> to<00:07:09.560> boil<00:07:09.919> down 00:07:10.110 --> 00:07:10.120 align:start position:0% that users should be able to boil down 00:07:10.120 --> 00:07:14.589 align:start position:0% that users should be able to boil down to<00:07:10.520> 1,000<00:07:11.520> gas<00:07:11.879> for<00:07:12.520> cashing<00:07:13.080> out<00:07:14.080> this<00:07:14.240> still 00:07:14.589 --> 00:07:14.599 align:start position:0% to 1,000 gas for cashing out this still 00:07:14.599 --> 00:07:16.909 align:start position:0% to 1,000 gas for cashing out this still is<00:07:14.800> not<00:07:15.080> a<00:07:15.240> perfect<00:07:15.560> solution<00:07:16.360> it<00:07:16.520> doesn't 00:07:16.909 --> 00:07:16.919 align:start position:0% is not a perfect solution it doesn't 00:07:16.919 --> 00:07:19.950 align:start position:0% is not a perfect solution it doesn't scale<00:07:17.919> and<00:07:18.280> that's<00:07:18.440> why<00:07:18.639> we<00:07:19.039> come<00:07:19.240> up<00:07:19.479> with 00:07:19.950 --> 00:07:19.960 align:start position:0% scale and that's why we come up with 00:07:19.960 --> 00:07:22.790 align:start position:0% scale and that's why we come up with came<00:07:20.120> up<00:07:20.280> with<00:07:20.400> Lottery<00:07:20.800> contract<00:07:21.800> which 00:07:22.790 --> 00:07:22.800 align:start position:0% came up with Lottery contract which 00:07:22.800 --> 00:07:24.589 align:start position:0% came up with Lottery contract which supposedly<00:07:23.360> solves<00:07:23.759> all<00:07:23.879> the 00:07:24.589 --> 00:07:24.599 align:start position:0% supposedly solves all the 00:07:24.599 --> 00:07:26.950 align:start position:0% supposedly solves all the problems<00:07:25.599> and<00:07:25.800> it<00:07:26.039> in<00:07:26.240> principle<00:07:26.599> it<00:07:26.720> looked 00:07:26.950 --> 00:07:26.960 align:start position:0% problems and it in principle it looked 00:07:26.960 --> 00:07:29.749 align:start position:0% problems and it in principle it looked like<00:07:27.160> this<00:07:27.720> task<00:07:28.039> Center<00:07:28.560> a<00:07:28.800> person<00:07:29.160> who 00:07:29.749 --> 00:07:29.759 align:start position:0% like this task Center a person who 00:07:29.759 --> 00:07:32.869 align:start position:0% like this task Center a person who broadcasted<00:07:30.400> the<00:07:30.560> task<00:07:30.840> into<00:07:31.160> Golem<00:07:31.879> network 00:07:32.869 --> 00:07:32.879 align:start position:0% broadcasted the task into Golem network 00:07:32.879 --> 00:07:36.830 align:start position:0% broadcasted the task into Golem network uh<00:07:33.759> sends<00:07:34.400> of<00:07:34.639> chain<00:07:35.479> uh<00:07:36.160> the<00:07:36.319> description<00:07:36.720> of 00:07:36.830 --> 00:07:36.840 align:start position:0% uh sends of chain uh the description of 00:07:36.840 --> 00:07:38.710 align:start position:0% uh sends of chain uh the description of the<00:07:36.960> lottery<00:07:37.319> to<00:07:37.520> all<00:07:37.879> receivers<00:07:38.520> and 00:07:38.710 --> 00:07:38.720 align:start position:0% the lottery to all receivers and 00:07:38.720 --> 00:07:40.629 align:start position:0% the lottery to all receivers and additionally<00:07:39.680> sends<00:07:40.039> some<00:07:40.240> data<00:07:40.440> to<00:07:40.520> the 00:07:40.629 --> 00:07:40.639 align:start position:0% additionally sends some data to the 00:07:40.639 --> 00:07:43.950 align:start position:0% additionally sends some data to the smart<00:07:41.120> contract<00:07:42.120> so<00:07:42.360> that<00:07:42.840> all<00:07:43.280> receivers<00:07:43.599> can 00:07:43.950 --> 00:07:43.960 align:start position:0% smart contract so that all receivers can 00:07:43.960 --> 00:07:46.869 align:start position:0% smart contract so that all receivers can verify<00:07:44.479> that<00:07:44.919> they<00:07:45.039> are<00:07:45.520> treated<00:07:45.879> fairly<00:07:46.639> and 00:07:46.869 --> 00:07:46.879 align:start position:0% verify that they are treated fairly and 00:07:46.879 --> 00:07:49.550 align:start position:0% verify that they are treated fairly and contract<00:07:47.319> should<00:07:47.520> be<00:07:47.680> able<00:07:47.919> to<00:07:48.319> verify<00:07:48.800> that 00:07:49.550 --> 00:07:49.560 align:start position:0% contract should be able to verify that 00:07:49.560 --> 00:07:53.550 align:start position:0% contract should be able to verify that some<00:07:49.800> user<00:07:50.599> uh<00:07:50.840> has<00:07:51.479> won<00:07:52.479> the<00:07:52.639> second<00:07:52.919> step<00:07:53.159> is 00:07:53.550 --> 00:07:53.560 align:start position:0% some user uh has won the second step is 00:07:53.560 --> 00:07:56.029 align:start position:0% some user uh has won the second step is drawing<00:07:53.960> a<00:07:54.080> random<00:07:54.400> number<00:07:55.400> I'll<00:07:55.639> talk<00:07:55.879> about 00:07:56.029 --> 00:07:56.039 align:start position:0% drawing a random number I'll talk about 00:07:56.039 --> 00:07:58.230 align:start position:0% drawing a random number I'll talk about the<00:07:56.159> randomness<00:07:56.599> Source<00:07:57.080> later<00:07:57.360> on<00:07:58.080> we 00:07:58.230 --> 00:07:58.240 align:start position:0% the randomness Source later on we 00:07:58.240 --> 00:08:00.589 align:start position:0% the randomness Source later on we believe<00:07:58.759> that<00:07:59.080> we<00:07:59.240> can<00:07:59.800> provided<00:08:00.199> that<00:08:00.319> we<00:08:00.440> can 00:08:00.589 --> 00:08:00.599 align:start position:0% believe that we can provided that we can 00:08:00.599 --> 00:08:03.149 align:start position:0% believe that we can provided that we can do<00:08:00.759> it<00:08:01.720> it's<00:08:02.000> just<00:08:02.159> a<00:08:02.319> matter<00:08:02.560> of<00:08:02.720> running<00:08:03.000> the 00:08:03.149 --> 00:08:03.159 align:start position:0% do it it's just a matter of running the 00:08:03.159 --> 00:08:05.869 align:start position:0% do it it's just a matter of running the contract<00:08:03.599> so<00:08:03.800> that<00:08:03.960> it<00:08:04.520> pays<00:08:05.240> the<00:08:05.479> required 00:08:05.869 --> 00:08:05.879 align:start position:0% contract so that it pays the required 00:08:05.879 --> 00:08:07.550 align:start position:0% contract so that it pays the required amount<00:08:06.080> to<00:08:06.199> the<00:08:06.319> winner<00:08:07.000> and<00:08:07.120> so<00:08:07.360> that 00:08:07.550 --> 00:08:07.560 align:start position:0% amount to the winner and so that 00:08:07.560 --> 00:08:09.830 align:start position:0% amount to the winner and so that everyone<00:08:07.919> can<00:08:08.159> verify<00:08:08.599> that<00:08:08.840> indeed<00:08:09.520> that 00:08:09.830 --> 00:08:09.840 align:start position:0% everyone can verify that indeed that 00:08:09.840 --> 00:08:12.790 align:start position:0% everyone can verify that indeed that person 00:08:12.790 --> 00:08:12.800 align:start position:0% 00:08:12.800 --> 00:08:15.950 align:start position:0% won<00:08:13.800> um<00:08:14.000> in<00:08:14.199> Ideal<00:08:14.639> World<00:08:15.080> we<00:08:15.199> would<00:08:15.360> be<00:08:15.560> able 00:08:15.950 --> 00:08:15.960 align:start position:0% won um in Ideal World we would be able 00:08:15.960 --> 00:08:19.830 align:start position:0% won um in Ideal World we would be able to<00:08:16.960> draw<00:08:17.800> a<00:08:17.960> random<00:08:18.280> number<00:08:18.560> easily<00:08:19.319> and<00:08:19.479> in<00:08:19.599> a 00:08:19.830 --> 00:08:19.840 align:start position:0% to draw a random number easily and in a 00:08:19.840 --> 00:08:23.790 align:start position:0% to draw a random number easily and in a very<00:08:20.159> verifiable<00:08:21.080> way<00:08:22.080> and<00:08:22.720> in<00:08:22.919> that<00:08:23.080> setting 00:08:23.790 --> 00:08:23.800 align:start position:0% very verifiable way and in that setting 00:08:23.800 --> 00:08:26.189 align:start position:0% very verifiable way and in that setting the<00:08:23.919> algorithm<00:08:24.360> would<00:08:24.479> be<00:08:25.080> pretty 00:08:26.189 --> 00:08:26.199 align:start position:0% the algorithm would be pretty 00:08:26.199 --> 00:08:28.589 align:start position:0% the algorithm would be pretty straightforward<00:08:27.199> uh<00:08:27.840> task<00:08:28.120> Center<00:08:28.479> would 00:08:28.589 --> 00:08:28.599 align:start position:0% straightforward uh task Center would 00:08:28.599 --> 00:08:30.790 align:start position:0% straightforward uh task Center would send<00:08:29.080> very<00:08:29.479> description<00:08:29.879> to<00:08:30.280> everyone<00:08:30.560> in<00:08:30.720> the 00:08:30.790 --> 00:08:30.800 align:start position:0% send very description to everyone in the 00:08:30.800 --> 00:08:33.389 align:start position:0% send very description to everyone in the colum<00:08:31.120> Network<00:08:31.960> so<00:08:32.159> that<00:08:32.320> everyone<00:08:32.640> would<00:08:33.240> be 00:08:33.389 --> 00:08:33.399 align:start position:0% colum Network so that everyone would be 00:08:33.399 --> 00:08:35.949 align:start position:0% colum Network so that everyone would be able<00:08:33.599> to<00:08:33.719> verify<00:08:34.080> that<00:08:34.240> it<00:08:34.360> is<00:08:34.519> fair<00:08:35.479> and<00:08:35.640> after 00:08:35.949 --> 00:08:35.959 align:start position:0% able to verify that it is fair and after 00:08:35.959 --> 00:08:39.709 align:start position:0% able to verify that it is fair and after that<00:08:36.479> anyone<00:08:37.479> could<00:08:37.680> call<00:08:38.240> a<00:08:38.399> reward<00:08:38.719> winner 00:08:39.709 --> 00:08:39.719 align:start position:0% that anyone could call a reward winner 00:08:39.719 --> 00:08:41.469 align:start position:0% that anyone could call a reward winner into<00:08:39.959> the<00:08:40.120> contract<00:08:40.599> which<00:08:40.719> would<00:08:41.120> simply 00:08:41.469 --> 00:08:41.479 align:start position:0% into the contract which would simply 00:08:41.479 --> 00:08:45.790 align:start position:0% into the contract which would simply send<00:08:42.479> uh<00:08:42.599> the<00:08:42.719> funds<00:08:43.159> to<00:08:43.839> to<00:08:44.000> the<00:08:44.120> winning<00:08:44.800> node 00:08:45.790 --> 00:08:45.800 align:start position:0% send uh the funds to to the winning node 00:08:45.800 --> 00:08:47.590 align:start position:0% send uh the funds to to the winning node unfortunately<00:08:46.399> we<00:08:46.519> don't<00:08:46.720> know<00:08:47.000> how<00:08:47.120> to<00:08:47.279> do<00:08:47.440> it 00:08:47.590 --> 00:08:47.600 align:start position:0% unfortunately we don't know how to do it 00:08:47.600 --> 00:08:49.710 align:start position:0% unfortunately we don't know how to do it because<00:08:47.880> there<00:08:48.000> is<00:08:48.200> no<00:08:48.480> source<00:08:48.800> of<00:08:49.279> trusted 00:08:49.710 --> 00:08:49.720 align:start position:0% because there is no source of trusted 00:08:49.720 --> 00:08:53.550 align:start position:0% because there is no source of trusted source<00:08:49.920> of<00:08:50.440> Randomness<00:08:51.440> but<00:08:51.600> if<00:08:51.720> we<00:08:52.080> could<00:08:53.080> uh 00:08:53.550 --> 00:08:53.560 align:start position:0% source of Randomness but if we could uh 00:08:53.560 --> 00:08:56.870 align:start position:0% source of Randomness but if we could uh draw<00:08:53.880> a<00:08:54.200> random<00:08:54.560> line<00:08:54.920> random<00:08:55.640> number<00:08:56.640> from 00:08:56.870 --> 00:08:56.880 align:start position:0% draw a random line random number from 00:08:56.880 --> 00:08:58.949 align:start position:0% draw a random line random number from some<00:08:57.279> external<00:08:57.640> source<00:08:57.959> that<00:08:58.120> can<00:08:58.279> be<00:08:58.440> checked 00:08:58.949 --> 00:08:58.959 align:start position:0% some external source that can be checked 00:08:58.959 --> 00:09:01.790 align:start position:0% some external source that can be checked later<00:08:59.240> on<00:08:59.480> on<00:09:00.279> then<00:09:00.640> sender<00:09:01.079> would<00:09:01.240> call<00:09:01.480> start 00:09:01.790 --> 00:09:01.800 align:start position:0% later on on then sender would call start 00:09:01.800 --> 00:09:04.750 align:start position:0% later on on then sender would call start Lottery<00:09:02.440> with<00:09:02.640> Lottery<00:09:03.000> ID<00:09:03.440> Lottery<00:09:03.800> ID<00:09:04.040> Maps 00:09:04.750 --> 00:09:04.760 align:start position:0% Lottery with Lottery ID Lottery ID Maps 00:09:04.760 --> 00:09:05.790 align:start position:0% Lottery with Lottery ID Lottery ID Maps uniquely 00:09:05.790 --> 00:09:05.800 align:start position:0% uniquely 00:09:05.800 --> 00:09:09.430 align:start position:0% uniquely to<00:09:06.800> to<00:09:07.000> the<00:09:07.160> description<00:09:07.600> of<00:09:07.720> the<00:09:07.839> lottery<00:09:08.640> and 00:09:09.430 --> 00:09:09.440 align:start position:0% to to the description of the lottery and 00:09:09.440 --> 00:09:12.310 align:start position:0% to to the description of the lottery and the<00:09:09.680> ID<00:09:10.279> of<00:09:10.480> the<00:09:10.680> task<00:09:11.040> that<00:09:11.200> was<00:09:11.760> sent<00:09:12.079> to<00:09:12.200> the 00:09:12.310 --> 00:09:12.320 align:start position:0% the ID of the task that was sent to the 00:09:12.320 --> 00:09:15.230 align:start position:0% the ID of the task that was sent to the Golem<00:09:12.959> Network<00:09:13.959> and<00:09:14.399> after<00:09:14.720> the<00:09:14.920> random 00:09:15.230 --> 00:09:15.240 align:start position:0% Golem Network and after the random 00:09:15.240 --> 00:09:17.310 align:start position:0% Golem Network and after the random number<00:09:15.480> is<00:09:15.640> generated 00:09:17.310 --> 00:09:17.320 align:start position:0% number is generated 00:09:17.320 --> 00:09:20.870 align:start position:0% number is generated someone<00:09:18.320> maybe<00:09:18.680> sender<00:09:19.160> or<00:09:19.480> the<00:09:19.600> winner<00:09:20.240> calls 00:09:20.870 --> 00:09:20.880 align:start position:0% someone maybe sender or the winner calls 00:09:20.880 --> 00:09:24.590 align:start position:0% someone maybe sender or the winner calls reward<00:09:21.240> winner<00:09:22.079> and<00:09:23.079> just<00:09:23.279> as<00:09:23.560> before<00:09:24.320> funds 00:09:24.590 --> 00:09:24.600 align:start position:0% reward winner and just as before funds 00:09:24.600 --> 00:09:27.230 align:start position:0% reward winner and just as before funds are<00:09:24.800> transferred<00:09:25.279> to<00:09:25.440> the<00:09:26.120> winning<00:09:26.440> note 00:09:27.230 --> 00:09:27.240 align:start position:0% are transferred to the winning note 00:09:27.240 --> 00:09:29.990 align:start position:0% are transferred to the winning note unfortunately<00:09:28.240> this<00:09:28.360> is<00:09:28.640> still<00:09:28.880> invisible 00:09:29.990 --> 00:09:30.000 align:start position:0% unfortunately this is still invisible 00:09:30.000 --> 00:09:32.190 align:start position:0% unfortunately this is still invisible and<00:09:30.160> we<00:09:30.320> have<00:09:30.480> to<00:09:30.839> come<00:09:31.000> up<00:09:31.160> with<00:09:31.320> something 00:09:32.190 --> 00:09:32.200 align:start position:0% and we have to come up with something 00:09:32.200 --> 00:09:36.310 align:start position:0% and we have to come up with something else<00:09:33.200> so<00:09:33.640> we<00:09:33.800> use<00:09:34.600> as<00:09:34.800> suggested<00:09:35.279> by<00:09:35.480> vitalic 00:09:36.310 --> 00:09:36.320 align:start position:0% else so we use as suggested by vitalic 00:09:36.320 --> 00:09:39.949 align:start position:0% else so we use as suggested by vitalic hases<00:09:36.920> from<00:09:37.120> future<00:09:37.640> blocks<00:09:38.640> an<00:09:38.959> additional 00:09:39.949 --> 00:09:39.959 align:start position:0% hases from future blocks an additional 00:09:39.959 --> 00:09:42.150 align:start position:0% hases from future blocks an additional method<00:09:40.320> determine<00:09:40.800> winner<00:09:41.240> can<00:09:41.440> be<00:09:41.560> called<00:09:41.880> by 00:09:42.150 --> 00:09:42.160 align:start position:0% method determine winner can be called by 00:09:42.160 --> 00:09:44.870 align:start position:0% method determine winner can be called by anyone<00:09:43.160> and<00:09:43.320> that<00:09:43.560> method<00:09:43.959> stores<00:09:44.680> a 00:09:44.870 --> 00:09:44.880 align:start position:0% anyone and that method stores a 00:09:44.880 --> 00:09:47.430 align:start position:0% anyone and that method stores a predefined<00:09:45.760> hash<00:09:46.000> of<00:09:46.120> a<00:09:46.240> predefined<00:09:46.680> Blog 00:09:47.430 --> 00:09:47.440 align:start position:0% predefined hash of a predefined Blog 00:09:47.440 --> 00:09:50.470 align:start position:0% predefined hash of a predefined Blog future<00:09:47.839> blog<00:09:48.720> and<00:09:48.920> after<00:09:49.240> that<00:09:50.079> the<00:09:50.240> thing 00:09:50.470 --> 00:09:50.480 align:start position:0% future blog and after that the thing 00:09:50.480 --> 00:09:52.389 align:start position:0% future blog and after that the thing everything<00:09:50.800> goes<00:09:51.079> as<00:09:51.279> before<00:09:51.800> someone<00:09:52.120> calls 00:09:52.389 --> 00:09:52.399 align:start position:0% everything goes as before someone calls 00:09:52.399 --> 00:09:54.710 align:start position:0% everything goes as before someone calls reward<00:09:52.720> winner<00:09:53.600> and<00:09:53.800> the<00:09:53.920> funds<00:09:54.160> are<00:09:54.320> transfer 00:09:54.710 --> 00:09:54.720 align:start position:0% reward winner and the funds are transfer 00:09:54.720 --> 00:09:56.990 align:start position:0% reward winner and the funds are transfer to<00:09:54.800> the<00:09:54.920> winning<00:09:55.279> note<00:09:56.279> uh<00:09:56.399> the<00:09:56.519> point<00:09:56.720> is<00:09:56.839> that 00:09:56.990 --> 00:09:57.000 align:start position:0% to the winning note uh the point is that 00:09:57.000 --> 00:09:58.829 align:start position:0% to the winning note uh the point is that reward<00:09:57.279> winner<00:09:57.519> can<00:09:57.680> be<00:09:57.760> called<00:09:57.959> upon<00:09:58.200> anyone 00:09:58.829 --> 00:09:58.839 align:start position:0% reward winner can be called upon anyone 00:09:58.839 --> 00:10:00.910 align:start position:0% reward winner can be called upon anyone determine<00:09:59.440> winner<00:09:59.920> is<00:10:00.240> required<00:10:00.640> to<00:10:00.760> be 00:10:00.910 --> 00:10:00.920 align:start position:0% determine winner is required to be 00:10:00.920 --> 00:10:04.670 align:start position:0% determine winner is required to be called<00:10:01.279> within<00:10:01.800> some<00:10:02.800> amount<00:10:03.079> of<00:10:03.440> time<00:10:04.440> and 00:10:04.670 --> 00:10:04.680 align:start position:0% called within some amount of time and 00:10:04.680 --> 00:10:07.150 align:start position:0% called within some amount of time and there<00:10:04.800> is<00:10:04.959> an<00:10:05.200> incentive<00:10:06.079> uh<00:10:06.200> for<00:10:06.640> everyone<00:10:07.000> to 00:10:07.150 --> 00:10:07.160 align:start position:0% there is an incentive uh for everyone to 00:10:07.160 --> 00:10:11.630 align:start position:0% there is an incentive uh for everyone to do<00:10:07.320> it<00:10:08.240> uh<00:10:08.399> first<00:10:08.720> off<00:10:09.160> the<00:10:09.920> paying<00:10:10.360> Noe<00:10:11.360> task 00:10:11.630 --> 00:10:11.640 align:start position:0% do it uh first off the paying Noe task 00:10:11.640 --> 00:10:14.550 align:start position:0% do it uh first off the paying Noe task cender<00:10:12.560> pays<00:10:13.120> some<00:10:13.440> small<00:10:13.760> additional 00:10:14.550 --> 00:10:14.560 align:start position:0% cender pays some small additional 00:10:14.560 --> 00:10:18.630 align:start position:0% cender pays some small additional deposit<00:10:15.560> and<00:10:16.320> this<00:10:16.480> deposit<00:10:16.839> is<00:10:17.160> returned<00:10:17.640> if 00:10:18.630 --> 00:10:18.640 align:start position:0% deposit and this deposit is returned if 00:10:18.640 --> 00:10:21.110 align:start position:0% deposit and this deposit is returned if uh<00:10:18.880> the<00:10:19.040> sender<00:10:19.839> calls<00:10:20.160> the<00:10:20.279> termine<00:10:20.600> winner 00:10:21.110 --> 00:10:21.120 align:start position:0% uh the sender calls the termine winner 00:10:21.120 --> 00:10:25.030 align:start position:0% uh the sender calls the termine winner ear<00:10:21.680> on<00:10:22.680> if<00:10:23.000> that<00:10:23.200> note<00:10:23.480> fails<00:10:23.800> to<00:10:24.399> call<00:10:24.640> it 00:10:25.030 --> 00:10:25.040 align:start position:0% ear on if that note fails to call it 00:10:25.040 --> 00:10:26.670 align:start position:0% ear on if that note fails to call it anyone<00:10:25.399> can<00:10:25.560> call<00:10:25.760> determine<00:10:26.200> winner<00:10:26.440> in<00:10:26.560> the 00:10:26.670 --> 00:10:26.680 align:start position:0% anyone can call determine winner in the 00:10:26.680 --> 00:10:28.430 align:start position:0% anyone can call determine winner in the deposit<00:10:27.000> is<00:10:27.120> transferred<00:10:27.519> to<00:10:27.640> that<00:10:27.760> note<00:10:28.240> so 00:10:28.430 --> 00:10:28.440 align:start position:0% deposit is transferred to that note so 00:10:28.440 --> 00:10:31.350 align:start position:0% deposit is transferred to that note so there<00:10:28.519> is<00:10:28.640> an<00:10:28.800> incentive<00:10:29.120> to<00:10:29.360> do 00:10:31.350 --> 00:10:31.360 align:start position:0% there is an incentive to do 00:10:31.360 --> 00:10:33.710 align:start position:0% there is an incentive to do it<00:10:32.360> well<00:10:32.680> what's<00:10:32.959> more<00:10:33.200> import<00:10:33.519> what's 00:10:33.710 --> 00:10:33.720 align:start position:0% it well what's more import what's 00:10:33.720 --> 00:10:34.870 align:start position:0% it well what's more import what's important<00:10:34.120> here<00:10:34.279> is<00:10:34.399> that<00:10:34.519> winner 00:10:34.870 --> 00:10:34.880 align:start position:0% important here is that winner 00:10:34.880 --> 00:10:38.350 align:start position:0% important here is that winner certificate<00:10:35.600> is<00:10:36.200> uh<00:10:36.880> pretty<00:10:37.120> similar<00:10:37.560> to<00:10:38.200> what 00:10:38.350 --> 00:10:38.360 align:start position:0% certificate is uh pretty similar to what 00:10:38.360 --> 00:10:41.110 align:start position:0% certificate is uh pretty similar to what we<00:10:38.519> had<00:10:38.639> in<00:10:38.800> sub<00:10:39.200> accounts<00:10:39.920> case<00:10:40.399> it's<00:10:40.600> a<00:10:40.920> list 00:10:41.110 --> 00:10:41.120 align:start position:0% we had in sub accounts case it's a list 00:10:41.120 --> 00:10:44.949 align:start position:0% we had in sub accounts case it's a list of<00:10:41.360> pairs<00:10:42.360> uh<00:10:42.480> notes<00:10:43.000> addresses<00:10:43.399> and<00:10:43.959> values 00:10:44.949 --> 00:10:44.959 align:start position:0% of pairs uh notes addresses and values 00:10:44.959 --> 00:10:48.629 align:start position:0% of pairs uh notes addresses and values that<00:10:45.480> correspond<00:10:46.079> to<00:10:46.880> each<00:10:47.240> Noe<00:10:48.240> and<00:10:48.440> each 00:10:48.629 --> 00:10:48.639 align:start position:0% that correspond to each Noe and each 00:10:48.639 --> 00:10:51.110 align:start position:0% that correspond to each Noe and each value<00:10:48.920> is<00:10:49.079> proportional<00:10:49.560> to<00:10:49.760> the<00:10:50.160> time<00:10:50.839> that 00:10:51.110 --> 00:10:51.120 align:start position:0% value is proportional to the time that 00:10:51.120 --> 00:10:53.949 align:start position:0% value is proportional to the time that node<00:10:51.519> oh<00:10:51.720> well<00:10:51.880> compute<00:10:52.240> resources<00:10:52.600> that<00:10:52.800> note 00:10:53.949 --> 00:10:53.959 align:start position:0% node oh well compute resources that note 00:10:53.959 --> 00:10:57.670 align:start position:0% node oh well compute resources that note spent<00:10:54.959> uh<00:10:55.040> for<00:10:55.279> the<00:10:55.480> task<00:10:56.000> or<00:10:56.240> even 00:10:57.670 --> 00:10:57.680 align:start position:0% spent uh for the task or even 00:10:57.680 --> 00:11:02.470 align:start position:0% spent uh for the task or even subtask<00:10:58.680> and<00:10:58.800> this<00:10:58.920> is<00:10:59.440> are<00:10:59.560> in<00:10:59.680> number<00:11:00.040> of 00:11:02.470 --> 00:11:02.480 align:start position:0% subtask and this is are in number of 00:11:02.480 --> 00:11:04.990 align:start position:0% subtask and this is are in number of nodes<00:11:03.480> we<00:11:03.639> believe<00:11:04.000> that<00:11:04.160> it<00:11:04.560> should<00:11:04.800> be 00:11:04.990 --> 00:11:05.000 align:start position:0% nodes we believe that it should be 00:11:05.000 --> 00:11:07.829 align:start position:0% nodes we believe that it should be better<00:11:05.839> and<00:11:06.360> everyone<00:11:06.720> knows<00:11:07.519> what<00:11:07.680> this 00:11:07.829 --> 00:11:07.839 align:start position:0% better and everyone knows what this 00:11:07.839 --> 00:11:10.190 align:start position:0% better and everyone knows what this structure<00:11:08.240> is<00:11:08.839> numerical<00:11:09.279> tree<00:11:09.519> can<00:11:09.639> be<00:11:09.800> used 00:11:10.190 --> 00:11:10.200 align:start position:0% structure is numerical tree can be used 00:11:10.200 --> 00:11:13.590 align:start position:0% structure is numerical tree can be used to<00:11:10.959> Simply<00:11:11.959> send<00:11:12.440> logarithmic<00:11:13.160> amount<00:11:13.399> of 00:11:13.590 --> 00:11:13.600 align:start position:0% to Simply send logarithmic amount of 00:11:13.600 --> 00:11:16.670 align:start position:0% to Simply send logarithmic amount of data<00:11:14.360> with<00:11:14.560> regard<00:11:14.839> to<00:11:15.000> the<00:11:15.279> number<00:11:15.560> of 00:11:16.670 --> 00:11:16.680 align:start position:0% data with regard to the number of 00:11:16.680 --> 00:11:21.030 align:start position:0% data with regard to the number of participants<00:11:17.680> uh<00:11:18.160> the<00:11:18.760> only<00:11:19.760> change<00:11:20.760> in<00:11:20.920> the 00:11:21.030 --> 00:11:21.040 align:start position:0% participants uh the only change in the 00:11:21.040 --> 00:11:23.069 align:start position:0% participants uh the only change in the algorithm<00:11:21.480> is<00:11:21.639> that<00:11:21.959> the<00:11:22.079> winner<00:11:22.480> certificate 00:11:23.069 --> 00:11:23.079 align:start position:0% algorithm is that the winner certificate 00:11:23.079 --> 00:11:25.829 align:start position:0% algorithm is that the winner certificate right<00:11:23.200> now<00:11:23.680> consists<00:11:24.040> of<00:11:24.560> triplets<00:11:25.560> uh 00:11:25.829 --> 00:11:25.839 align:start position:0% right now consists of triplets uh 00:11:25.839 --> 00:11:28.910 align:start position:0% right now consists of triplets uh address<00:11:26.839> a<00:11:27.040> partial<00:11:27.399> sum<00:11:27.760> up<00:11:27.880> to<00:11:28.120> the<00:11:28.360> point 00:11:28.910 --> 00:11:28.920 align:start position:0% address a partial sum up to the point 00:11:28.920 --> 00:11:29.870 align:start position:0% address a partial sum up to the point where<00:11:29.079> the 00:11:29.870 --> 00:11:29.880 align:start position:0% where the 00:11:29.880 --> 00:11:34.069 align:start position:0% where the uh<00:11:30.880> node<00:11:31.240> is<00:11:31.480> in<00:11:31.600> a<00:11:31.760> vector<00:11:32.519> and<00:11:32.800> its<00:11:33.279> value<00:11:33.880> so 00:11:34.069 --> 00:11:34.079 align:start position:0% uh node is in a vector and its value so 00:11:34.079 --> 00:11:35.150 align:start position:0% uh node is in a vector and its value so that<00:11:34.240> it<00:11:34.440> can 00:11:35.150 --> 00:11:35.160 align:start position:0% that it can 00:11:35.160 --> 00:11:39.710 align:start position:0% that it can be<00:11:36.560> determined<00:11:37.560> in<00:11:37.720> a<00:11:38.160> tree<00:11:39.040> so<00:11:39.240> when<00:11:39.360> the<00:11:39.519> path 00:11:39.710 --> 00:11:39.720 align:start position:0% be determined in a tree so when the path 00:11:39.720 --> 00:11:40.509 align:start position:0% be determined in a tree so when the path is 00:11:40.509 --> 00:11:40.519 align:start position:0% is 00:11:40.519 --> 00:11:44.470 align:start position:0% is set<00:11:41.519> the<00:11:41.800> lottery<00:11:42.279> ID<00:11:42.560> is<00:11:42.760> changed<00:11:43.160> to<00:11:43.959> the<00:11:44.200> H 00:11:44.470 --> 00:11:44.480 align:start position:0% set the lottery ID is changed to the H 00:11:44.480 --> 00:11:47.629 align:start position:0% set the lottery ID is changed to the H of<00:11:44.639> the<00:11:45.000> root<00:11:45.360> of<00:11:45.480> the<00:11:45.880> tree<00:11:46.880> concatenated 00:11:47.629 --> 00:11:47.639 align:start position:0% of the root of the tree concatenated 00:11:47.639 --> 00:11:50.670 align:start position:0% of the root of the tree concatenated with<00:11:48.120> Lotter 00:11:50.670 --> 00:11:50.680 align:start position:0% 00:11:50.680 --> 00:11:53.590 align:start position:0% ID<00:11:51.680> we<00:11:51.839> believe<00:11:52.120> that<00:11:52.240> we<00:11:52.360> can<00:11:52.480> do<00:11:52.639> even<00:11:52.880> better 00:11:53.590 --> 00:11:53.600 align:start position:0% ID we believe that we can do even better 00:11:53.600 --> 00:11:55.629 align:start position:0% ID we believe that we can do even better we<00:11:53.720> can<00:11:53.959> keep<00:11:54.240> the<00:11:54.639> cost<00:11:54.959> of<00:11:55.120> the<00:11:55.399> whole 00:11:55.629 --> 00:11:55.639 align:start position:0% we can keep the cost of the whole 00:11:55.639 --> 00:11:56.870 align:start position:0% we can keep the cost of the whole Lottery 00:11:56.870 --> 00:11:56.880 align:start position:0% Lottery 00:11:56.880 --> 00:11:59.590 align:start position:0% Lottery constant<00:11:57.880> but<00:11:58.399> this<00:11:58.560> setting<00:11:58.920> requires<00:11:59.440> some 00:11:59.590 --> 00:11:59.600 align:start position:0% constant but this setting requires some 00:11:59.600 --> 00:12:03.990 align:start position:0% constant but this setting requires some optimistic<00:12:00.720> assumptions<00:12:01.720> that 00:12:03.990 --> 00:12:04.000 align:start position:0% optimistic assumptions that 00:12:04.000 --> 00:12:09.430 align:start position:0% optimistic assumptions that prove<00:12:05.000> the<00:12:05.120> one<00:12:05.399> that<00:12:05.519> is<00:12:05.680> sent<00:12:06.480> in<00:12:07.200> fifth 00:12:09.430 --> 00:12:09.440 align:start position:0% prove the one that is sent in fifth 00:12:09.440 --> 00:12:12.629 align:start position:0% prove the one that is sent in fifth step<00:12:10.440> is<00:12:10.639> sent<00:12:11.000> only<00:12:11.279> when<00:12:11.639> necessary 00:12:12.629 --> 00:12:12.639 align:start position:0% step is sent only when necessary 00:12:12.639 --> 00:12:13.910 align:start position:0% step is sent only when necessary necessary<00:12:13.040> meaning<00:12:13.360> that<00:12:13.480> someone<00:12:13.760> was 00:12:13.910 --> 00:12:13.920 align:start position:0% necessary meaning that someone was 00:12:13.920 --> 00:12:17.189 align:start position:0% necessary meaning that someone was cheated<00:12:14.519> someone<00:12:14.760> was<00:12:15.079> cheating<00:12:16.079> so<00:12:17.040> a 00:12:17.189 --> 00:12:17.199 align:start position:0% cheated someone was cheating so a 00:12:17.199 --> 00:12:18.910 align:start position:0% cheated someone was cheating so a winning<00:12:17.480> note<00:12:17.760> sends<00:12:18.279> lottery<00:12:18.600> winner 00:12:18.910 --> 00:12:18.920 align:start position:0% winning note sends lottery winner 00:12:18.920 --> 00:12:21.550 align:start position:0% winning note sends lottery winner message<00:12:19.240> without<00:12:19.519> any<00:12:19.720> proof<00:12:20.600> and<00:12:21.000> stores<00:12:21.399> a 00:12:21.550 --> 00:12:21.560 align:start position:0% message without any proof and stores a 00:12:21.560 --> 00:12:23.910 align:start position:0% message without any proof and stores a huge<00:12:21.839> deposit<00:12:22.519> which<00:12:22.680> would<00:12:22.880> be<00:12:23.040> paid<00:12:23.360> to 00:12:23.910 --> 00:12:23.920 align:start position:0% huge deposit which would be paid to 00:12:23.920 --> 00:12:27.710 align:start position:0% huge deposit which would be paid to other<00:12:24.199> note<00:12:24.959> if<00:12:25.199> that<00:12:25.639> sending<00:12:26.160> note<00:12:27.040> is<00:12:27.160> a 00:12:27.710 --> 00:12:27.720 align:start position:0% other note if that sending note is a 00:12:27.720 --> 00:12:29.750 align:start position:0% other note if that sending note is a cheater<00:12:28.720> after<00:12:28.959> that 00:12:29.750 --> 00:12:29.760 align:start position:0% cheater after that 00:12:29.760 --> 00:12:32.430 align:start position:0% cheater after that anyone<00:12:30.600> participating<00:12:31.240> in<00:12:31.360> the<00:12:31.480> network<00:12:31.839> can 00:12:32.430 --> 00:12:32.440 align:start position:0% anyone participating in the network can 00:12:32.440 --> 00:12:34.910 align:start position:0% anyone participating in the network can send<00:12:32.959> a<00:12:33.160> proof<00:12:33.800> and<00:12:34.199> if<00:12:34.320> the<00:12:34.440> Tater<00:12:34.800> is 00:12:34.910 --> 00:12:34.920 align:start position:0% send a proof and if the Tater is 00:12:34.920 --> 00:12:37.509 align:start position:0% send a proof and if the Tater is revealed<00:12:35.720> then<00:12:35.880> the<00:12:36.040> not<00:12:36.240> sending<00:12:36.600> the<00:12:36.760> proof 00:12:37.509 --> 00:12:37.519 align:start position:0% revealed then the not sending the proof 00:12:37.519 --> 00:12:40.430 align:start position:0% revealed then the not sending the proof gets<00:12:37.760> the<00:12:37.920> deposit<00:12:38.320> and<00:12:38.519> the<00:12:39.199> winner<00:12:40.000> gets 00:12:40.430 --> 00:12:40.440 align:start position:0% gets the deposit and the winner gets 00:12:40.440 --> 00:12:43.310 align:start position:0% gets the deposit and the winner gets gets<00:12:40.639> the<00:12:40.800> value<00:12:41.600> gets<00:12:41.800> the<00:12:42.040> price<00:12:43.040> uh<00:12:43.160> we 00:12:43.310 --> 00:12:43.320 align:start position:0% gets the value gets the price uh we 00:12:43.320 --> 00:12:46.110 align:start position:0% gets the value gets the price uh we believe<00:12:43.600> that<00:12:43.720> 24<00:12:44.480> hours<00:12:44.760> is<00:12:44.920> just<00:12:45.199> enough<00:12:45.440> to 00:12:46.110 --> 00:12:46.120 align:start position:0% believe that 24 hours is just enough to 00:12:46.120 --> 00:12:47.430 align:start position:0% believe that 24 hours is just enough to make<00:12:46.360> it 00:12:47.430 --> 00:12:47.440 align:start position:0% make it 00:12:47.440 --> 00:12:49.990 align:start position:0% make it fair<00:12:48.440> the<00:12:48.560> algorithm<00:12:49.000> is<00:12:49.160> pretty<00:12:49.399> similar<00:12:49.760> to 00:12:49.990 --> 00:12:50.000 align:start position:0% fair the algorithm is pretty similar to 00:12:50.000 --> 00:12:53.710 align:start position:0% fair the algorithm is pretty similar to the<00:12:51.000> uh<00:12:52.000> first<00:12:52.519> implementation<00:12:53.279> that<00:12:53.399> is<00:12:53.560> not 00:12:53.710 --> 00:12:53.720 align:start position:0% the uh first implementation that is not 00:12:53.720 --> 00:12:56.949 align:start position:0% the uh first implementation that is not optimistic<00:12:54.160> but<00:12:54.480> uses<00:12:55.480> uh<00:12:55.959> certificates 00:12:56.949 --> 00:12:56.959 align:start position:0% optimistic but uses uh certificates 00:12:56.959 --> 00:12:59.189 align:start position:0% optimistic but uses uh certificates right<00:12:57.199> here<00:12:57.760> we<00:12:57.959> add<00:12:58.519> three<00:12:58.720> additional 00:12:59.189 --> 00:12:59.199 align:start position:0% right here we add three additional 00:12:59.199 --> 00:13:00.829 align:start position:0% right here we add three additional points<00:12:59.519> in<00:12:59.680> fact<00:12:59.839> two<00:13:00.160> lottery<00:13:00.440> winner<00:13:00.680> and 00:13:00.829 --> 00:13:00.839 align:start position:0% points in fact two lottery winner and 00:13:00.839 --> 00:13:04.670 align:start position:0% points in fact two lottery winner and lottery<00:13:01.160> payout<00:13:02.000> lottery<00:13:02.360> winner<00:13:02.680> is<00:13:03.639> used<00:13:04.000> to 00:13:04.670 --> 00:13:04.680 align:start position:0% lottery payout lottery winner is used to 00:13:04.680 --> 00:13:06.710 align:start position:0% lottery payout lottery winner is used to indicate<00:13:05.160> that<00:13:05.360> a<00:13:05.519> note<00:13:05.839> believes<00:13:06.240> is<00:13:06.399> a 00:13:06.710 --> 00:13:06.720 align:start position:0% indicate that a note believes is a 00:13:06.720 --> 00:13:08.870 align:start position:0% indicate that a note believes is a winner<00:13:07.720> lottery<00:13:08.079> payout<00:13:08.399> can<00:13:08.519> be<00:13:08.639> called 00:13:08.870 --> 00:13:08.880 align:start position:0% winner lottery payout can be called 00:13:08.880 --> 00:13:11.189 align:start position:0% winner lottery payout can be called after<00:13:09.079> 24<00:13:09.399> hours<00:13:09.639> is<00:13:09.839> no<00:13:09.959> one<00:13:10.240> vetos<00:13:10.959> and 00:13:11.189 --> 00:13:11.199 align:start position:0% after 24 hours is no one vetos and 00:13:11.199 --> 00:13:13.670 align:start position:0% after 24 hours is no one vetos and reward<00:13:11.480> winner<00:13:11.760> is<00:13:11.839> a<00:13:12.000> veto<00:13:12.360> which<00:13:12.959> results<00:13:13.399> in 00:13:13.670 --> 00:13:13.680 align:start position:0% reward winner is a veto which results in 00:13:13.680 --> 00:13:16.750 align:start position:0% reward winner is a veto which results in revealing<00:13:14.120> cheater<00:13:14.600> and<00:13:15.399> sending<00:13:16.199> a<00:13:16.399> deposit 00:13:16.750 --> 00:13:16.760 align:start position:0% revealing cheater and sending a deposit 00:13:16.760 --> 00:13:20.150 align:start position:0% revealing cheater and sending a deposit to<00:13:16.920> the<00:13:17.199> revealing<00:13:17.720> note<00:13:18.079> and<00:13:18.839> sending<00:13:19.839> prize 00:13:20.150 --> 00:13:20.160 align:start position:0% to the revealing note and sending prize 00:13:20.160 --> 00:13:21.750 align:start position:0% to the revealing note and sending prize to<00:13:20.320> the<00:13:20.519> winning 00:13:21.750 --> 00:13:21.760 align:start position:0% to the winning 00:13:21.760 --> 00:13:23.269 align:start position:0% to the winning note 00:13:23.269 --> 00:13:23.279 align:start position:0% note 00:13:23.279 --> 00:13:26.750 align:start position:0% note so<00:13:24.279> one<00:13:24.639> very<00:13:24.920> important<00:13:25.360> problem<00:13:25.959> that<00:13:26.160> we 00:13:26.750 --> 00:13:26.760 align:start position:0% so one very important problem that we 00:13:26.760 --> 00:13:29.509 align:start position:0% so one very important problem that we have<00:13:26.920> to<00:13:27.120> deal<00:13:27.399> with<00:13:28.320> is<00:13:28.720> how<00:13:28.880> to<00:13:29.160> Generate 00:13:29.509 --> 00:13:29.519 align:start position:0% have to deal with is how to Generate 00:13:29.519 --> 00:13:32.550 align:start position:0% have to deal with is how to Generate random<00:13:29.839> value<00:13:30.519> well<00:13:31.160> generating<00:13:31.880> values 00:13:32.550 --> 00:13:32.560 align:start position:0% random value well generating values 00:13:32.560 --> 00:13:36.350 align:start position:0% random value well generating values random<00:13:32.920> values<00:13:33.800> by<00:13:34.800> Future<00:13:35.199> blocks<00:13:35.560> is<00:13:35.720> not<00:13:36.160> a 00:13:36.350 --> 00:13:36.360 align:start position:0% random values by Future blocks is not a 00:13:36.360 --> 00:13:39.829 align:start position:0% random values by Future blocks is not a perfect<00:13:36.720> method<00:13:37.000> because<00:13:37.680> it's<00:13:38.680> um<00:13:38.839> prone<00:13:39.160> to 00:13:39.829 --> 00:13:39.839 align:start position:0% perfect method because it's um prone to 00:13:39.839 --> 00:13:44.870 align:start position:0% perfect method because it's um prone to minus<00:13:40.320> fraud<00:13:41.079> and<00:13:41.320> at<00:13:41.480> the<00:13:41.639> point<00:13:42.320> of<00:13:43.320> this 00:13:44.870 --> 00:13:44.880 align:start position:0% minus fraud and at the point of this 00:13:44.880 --> 00:13:48.509 align:start position:0% minus fraud and at the point of this presentation<00:13:45.880> only<00:13:46.160> 25<00:13:46.959> and<00:13:47.160> 56<00:13:47.720> blocks<00:13:48.320> can 00:13:48.509 --> 00:13:48.519 align:start position:0% presentation only 25 and 56 blocks can 00:13:48.519 --> 00:13:52.030 align:start position:0% presentation only 25 and 56 blocks can be<00:13:49.240> well<00:13:50.240> hashes<00:13:50.639> of<00:13:50.759> blocks<00:13:51.399> are<00:13:51.639> available 00:13:52.030 --> 00:13:52.040 align:start position:0% be well hashes of blocks are available 00:13:52.040 --> 00:13:54.749 align:start position:0% be well hashes of blocks are available to<00:13:52.199> the<00:13:52.600> contract 00:13:54.749 --> 00:13:54.759 align:start position:0% to the contract 00:13:54.759 --> 00:14:01.230 align:start position:0% to the contract so<00:13:55.759> within<00:13:57.000> 25<00:13:58.000> 2000<00:13:58.759> and<00:13:59.199> 56<00:13:59.759> blocks<00:14:00.279> a<00:14:00.959> block 00:14:01.230 --> 00:14:01.240 align:start position:0% so within 25 2000 and 56 blocks a block 00:14:01.240 --> 00:14:03.389 align:start position:0% so within 25 2000 and 56 blocks a block hash<00:14:01.560> has<00:14:01.680> to<00:14:01.839> be<00:14:02.160> stored<00:14:02.600> in<00:14:02.680> a<00:14:02.839> contract 00:14:03.389 --> 00:14:03.399 align:start position:0% hash has to be stored in a contract 00:14:03.399 --> 00:14:05.350 align:start position:0% hash has to be stored in a contract because<00:14:03.639> later<00:14:03.880> on<00:14:04.040> it<00:14:04.160> cannot<00:14:04.399> be<00:14:04.480> verified 00:14:05.350 --> 00:14:05.360 align:start position:0% because later on it cannot be verified 00:14:05.360 --> 00:14:08.230 align:start position:0% because later on it cannot be verified if<00:14:05.519> that<00:14:05.720> doesn't<00:14:06.040> happen<00:14:07.000> then<00:14:07.440> the<00:14:07.639> next 00:14:08.230 --> 00:14:08.240 align:start position:0% if that doesn't happen then the next 00:14:08.240 --> 00:14:14.509 align:start position:0% if that doesn't happen then the next batch<00:14:08.519> of<00:14:08.800> 25<00:14:10.160> 2256<00:14:11.160> blocks<00:14:11.480> is<00:14:12.320> used<00:14:13.519> and 00:14:14.509 --> 00:14:14.519 align:start position:0% batch of 25 2256 blocks is used and 00:14:14.519 --> 00:14:17.150 align:start position:0% batch of 25 2256 blocks is used and another<00:14:14.880> hash<00:14:15.120> is<00:14:15.240> used<00:14:16.000> it's<00:14:16.160> fair<00:14:16.560> but<00:14:16.800> it 00:14:17.150 --> 00:14:17.160 align:start position:0% another hash is used it's fair but it 00:14:17.160 --> 00:14:19.310 align:start position:0% another hash is used it's fair but it changes<00:14:17.560> the<00:14:17.680> winner<00:14:18.040> so<00:14:18.440> it's<00:14:18.759> an<00:14:18.920> incentive 00:14:19.310 --> 00:14:19.320 align:start position:0% changes the winner so it's an incentive 00:14:19.320 --> 00:14:22.590 align:start position:0% changes the winner so it's an incentive to<00:14:19.560> everyone<00:14:20.639> to<00:14:21.639> get<00:14:21.800> that<00:14:22.000> has<00:14:22.279> from<00:14:22.399> the 00:14:22.590 --> 00:14:22.600 align:start position:0% to everyone to get that has from the 00:14:22.600 --> 00:14:26.189 align:start position:0% to everyone to get that has from the first<00:14:23.399> 256 00:14:26.189 --> 00:14:26.199 align:start position:0% first 256 00:14:26.199 --> 00:14:28.749 align:start position:0% first 256 blocks<00:14:27.199> well<00:14:27.800> so<00:14:28.000> far<00:14:28.160> we<00:14:28.279> don't<00:14:28.440> know<00:14:28.600> any 00:14:28.749 --> 00:14:28.759 align:start position:0% blocks well so far we don't know any 00:14:28.759 --> 00:14:33.110 align:start position:0% blocks well so far we don't know any better<00:14:29.440> solution<00:14:30.440> but<00:14:30.600> we're<00:14:31.519> aware<00:14:32.120> of 00:14:33.110 --> 00:14:33.120 align:start position:0% better solution but we're aware of 00:14:33.120 --> 00:14:36.550 align:start position:0% better solution but we're aware of approaches<00:14:33.680> that<00:14:33.880> can<00:14:34.279> in<00:14:34.800> future<00:14:35.800> uh<00:14:35.959> replace 00:14:36.550 --> 00:14:36.560 align:start position:0% approaches that can in future uh replace 00:14:36.560 --> 00:14:39.150 align:start position:0% approaches that can in future uh replace our<00:14:36.880> approach<00:14:37.720> run<00:14:38.000> our<00:14:38.240> contracts<00:14:38.600> and<00:14:38.759> alarm 00:14:39.150 --> 00:14:39.160 align:start position:0% our approach run our contracts and alarm 00:14:39.160 --> 00:14:43.269 align:start position:0% our approach run our contracts and alarm clock<00:14:40.600> if<00:14:41.600> when<00:14:41.880> stable<00:14:42.360> and<00:14:42.759> well<00:14:43.079> welld 00:14:43.269 --> 00:14:43.279 align:start position:0% clock if when stable and well welld 00:14:43.279 --> 00:14:45.509 align:start position:0% clock if when stable and well welld developed<00:14:44.199> may<00:14:44.360> be<00:14:44.519> a<00:14:44.639> better<00:14:45.000> approach<00:14:45.320> to 00:14:45.509 --> 00:14:45.519 align:start position:0% developed may be a better approach to 00:14:45.519 --> 00:14:48.350 align:start position:0% developed may be a better approach to this<00:14:45.720> problem<00:14:46.480> and<00:14:46.800> may<00:14:47.000> solve<00:14:47.320> it<00:14:47.759> easily<00:14:48.240> we 00:14:48.350 --> 00:14:48.360 align:start position:0% this problem and may solve it easily we 00:14:48.360 --> 00:14:51.710 align:start position:0% this problem and may solve it easily we don't<00:14:48.600> know<00:14:49.600> right<00:14:49.720> now<00:14:49.880> there<00:14:50.279> are<00:14:51.279> not<00:14:51.519> very 00:14:51.710 --> 00:14:51.720 align:start position:0% don't know right now there are not very 00:14:51.720 --> 00:14:55.110 align:start position:0% don't know right now there are not very reliable<00:14:52.320> and<00:14:53.320> well<00:14:54.240> more<00:14:54.519> expensive<00:14:54.959> than 00:14:55.110 --> 00:14:55.120 align:start position:0% reliable and well more expensive than 00:14:55.120 --> 00:14:57.670 align:start position:0% reliable and well more expensive than our<00:14:55.360> approach<00:14:55.959> simply 00:14:57.670 --> 00:14:57.680 align:start position:0% our approach simply 00:14:57.680 --> 00:15:00.870 align:start position:0% our approach simply so<00:14:58.680> with<00:14:59.079> know<00:14:59.240> that<00:14:59.399> they<00:14:59.720> exist<00:15:00.120> we<00:15:00.279> know 00:15:00.870 --> 00:15:00.880 align:start position:0% so with know that they exist we know 00:15:00.880 --> 00:15:03.590 align:start position:0% so with know that they exist we know that<00:15:01.079> they<00:15:01.199> can<00:15:01.360> be<00:15:01.519> used<00:15:02.079> but<00:15:03.079> we<00:15:03.279> have<00:15:03.399> to 00:15:03.590 --> 00:15:03.600 align:start position:0% that they can be used but we have to 00:15:03.600 --> 00:15:06.509 align:start position:0% that they can be used but we have to wait<00:15:03.920> until<00:15:04.279> they<00:15:05.079> get<00:15:05.240> a<00:15:05.320> bit<00:15:05.480> more 00:15:06.509 --> 00:15:06.519 align:start position:0% wait until they get a bit more 00:15:06.519 --> 00:15:09.629 align:start position:0% wait until they get a bit more mature<00:15:07.519> so<00:15:08.000> the<00:15:08.120> cost<00:15:08.360> comparison<00:15:08.880> between 00:15:09.629 --> 00:15:09.639 align:start position:0% mature so the cost comparison between 00:15:09.639 --> 00:15:12.150 align:start position:0% mature so the cost comparison between presented<00:15:10.079> methods<00:15:10.519> like<00:15:10.720> here<00:15:11.320> is<00:15:11.519> like<00:15:11.720> this 00:15:12.150 --> 00:15:12.160 align:start position:0% presented methods like here is like this 00:15:12.160 --> 00:15:13.749 align:start position:0% presented methods like here is like this Bing<00:15:12.519> and<00:15:12.639> sub<00:15:12.880> accounts<00:15:13.120> gross<00:15:13.399> linearly 00:15:13.749 --> 00:15:13.759 align:start position:0% Bing and sub accounts gross linearly 00:15:13.759 --> 00:15:16.710 align:start position:0% Bing and sub accounts gross linearly with<00:15:13.880> the<00:15:13.959> number<00:15:14.160> of<00:15:14.279> users<00:15:15.240> Lottery<00:15:15.720> check 00:15:16.710 --> 00:15:16.720 align:start position:0% with the number of users Lottery check 00:15:16.720 --> 00:15:19.470 align:start position:0% with the number of users Lottery check as<00:15:16.839> you<00:15:16.920> can<00:15:17.079> see<00:15:17.440> gross<00:15:18.240> uh<00:15:18.839> logarithmically 00:15:19.470 --> 00:15:19.480 align:start position:0% as you can see gross uh logarithmically 00:15:19.480 --> 00:15:22.389 align:start position:0% as you can see gross uh logarithmically lottery<00:15:19.759> winner<00:15:20.000> is<00:15:20.079> a<00:15:20.199> constant<00:15:20.839> cost<00:15:21.839> and 00:15:22.389 --> 00:15:22.399 align:start position:0% lottery winner is a constant cost and 00:15:22.399 --> 00:15:26.269 align:start position:0% lottery winner is a constant cost and for<00:15:23.399> less<00:15:23.680> than<00:15:24.240> 256<00:15:25.199> users 00:15:26.269 --> 00:15:26.279 align:start position:0% for less than 256 users 00:15:26.279 --> 00:15:28.990 align:start position:0% for less than 256 users Lottery<00:15:27.279> check<00:15:27.680> is<00:15:28.040> cheaper<00:15:28.440> than<00:15:28.560> Lottery 00:15:28.990 --> 00:15:29.000 align:start position:0% Lottery check is cheaper than Lottery 00:15:29.000 --> 00:15:30.710 align:start position:0% Lottery check is cheaper than Lottery winner<00:15:29.440> which<00:15:29.680> makes<00:15:29.920> it<00:15:30.040> a<00:15:30.199> preferable 00:15:30.710 --> 00:15:30.720 align:start position:0% winner which makes it a preferable 00:15:30.720 --> 00:15:33.829 align:start position:0% winner which makes it a preferable method<00:15:30.959> in<00:15:31.079> our<00:15:31.639> setting<00:15:32.639> as<00:15:32.759> you<00:15:32.839> can<00:15:33.000> see<00:15:33.240> for 00:15:33.829 --> 00:15:33.839 align:start position:0% method in our setting as you can see for 00:15:33.839 --> 00:15:36.670 align:start position:0% method in our setting as you can see for 100<00:15:34.160> users<00:15:34.720> cost<00:15:35.000> is<00:15:35.199> 6<00:15:35.440> to7<00:15:35.959> times<00:15:36.360> higher 00:15:36.670 --> 00:15:36.680 align:start position:0% 100 users cost is 6 to7 times higher 00:15:36.680 --> 00:15:39.030 align:start position:0% 100 users cost is 6 to7 times higher than<00:15:36.959> for<00:15:37.160> lottery<00:15:37.800> Bing<00:15:38.160> and<00:15:38.319> sub<00:15:38.600> accounts 00:15:39.030 --> 00:15:39.040 align:start position:0% than for lottery Bing and sub accounts 00:15:39.040 --> 00:15:41.790 align:start position:0% than for lottery Bing and sub accounts and<00:15:39.160> for<00:15:39.360> 1,000<00:15:39.800> users<00:15:40.120> it's<00:15:40.680> two<00:15:40.880> ERS<00:15:41.199> of 00:15:41.790 --> 00:15:41.800 align:start position:0% and for 1,000 users it's two ERS of 00:15:41.800 --> 00:15:44.350 align:start position:0% and for 1,000 users it's two ERS of magnitude<00:15:42.800> more<00:15:43.040> expensive<00:15:43.600> which<00:15:43.759> makes<00:15:44.000> it 00:15:44.350 --> 00:15:44.360 align:start position:0% magnitude more expensive which makes it 00:15:44.360 --> 00:15:47.389 align:start position:0% magnitude more expensive which makes it unusable<00:15:45.360> in<00:15:45.480> our<00:15:45.800> setting<00:15:46.800> uh<00:15:46.959> what<00:15:47.079> might<00:15:47.240> be 00:15:47.389 --> 00:15:47.399 align:start position:0% unusable in our setting uh what might be 00:15:47.399 --> 00:15:49.550 align:start position:0% unusable in our setting uh what might be interesting<00:15:47.800> for<00:15:47.959> a<00:15:48.079> user<00:15:48.800> who<00:15:49.040> takes<00:15:49.279> part<00:15:49.480> in 00:15:49.550 --> 00:15:49.560 align:start position:0% interesting for a user who takes part in 00:15:49.560 --> 00:15:52.110 align:start position:0% interesting for a user who takes part in a<00:15:49.720> probabilistic<00:15:50.319> setting<00:15:51.120> is<00:15:51.360> how<00:15:51.560> long 00:15:52.110 --> 00:15:52.120 align:start position:0% a probabilistic setting is how long 00:15:52.120 --> 00:15:54.309 align:start position:0% a probabilistic setting is how long would<00:15:52.720> well<00:15:52.959> a<00:15:53.040> user<00:15:53.279> would<00:15:53.440> have<00:15:53.560> to<00:15:53.720> wait<00:15:54.120> for 00:15:54.309 --> 00:15:54.319 align:start position:0% would well a user would have to wait for 00:15:54.319 --> 00:15:57.309 align:start position:0% would well a user would have to wait for the<00:15:54.440> first<00:15:54.839> pay<00:15:55.560> payment<00:15:56.560> and<00:15:56.680> it<00:15:56.800> seems<00:15:57.160> that 00:15:57.309 --> 00:15:57.319 align:start position:0% the first pay payment and it seems that 00:15:57.319 --> 00:15:59.030 align:start position:0% the first pay payment and it seems that the<00:15:57.480> probability<00:15:57.920> of<00:15:58.040> not<00:15:58.199> getting<00:15:58.440> a<00:15:58.560> payment 00:15:59.030 --> 00:15:59.040 align:start position:0% the probability of not getting a payment 00:15:59.040 --> 00:16:01.470 align:start position:0% the probability of not getting a payment during<00:15:59.279> first<00:16:00.079> and<00:16:00.319> number<00:16:00.560> of<00:16:00.680> lotteries 00:16:01.470 --> 00:16:01.480 align:start position:0% during first and number of lotteries 00:16:01.480 --> 00:16:04.110 align:start position:0% during first and number of lotteries drops<00:16:01.800> to<00:16:01.959> zero<00:16:02.240> pretty<00:16:02.560> quickly<00:16:03.560> which<00:16:03.720> means 00:16:04.110 --> 00:16:04.120 align:start position:0% drops to zero pretty quickly which means 00:16:04.120 --> 00:16:07.629 align:start position:0% drops to zero pretty quickly which means that<00:16:04.759> it<00:16:04.959> goes<00:16:05.880> Rises<00:16:06.240> to<00:16:06.399> one<00:16:06.759> pretty<00:16:07.079> quickly 00:16:07.629 --> 00:16:07.639 align:start position:0% that it goes Rises to one pretty quickly 00:16:07.639 --> 00:16:09.550 align:start position:0% that it goes Rises to one pretty quickly probability<00:16:08.079> of<00:16:08.279> getting<00:16:08.600> a<00:16:08.759> payment<00:16:09.160> Rises 00:16:09.550 --> 00:16:09.560 align:start position:0% probability of getting a payment Rises 00:16:09.560 --> 00:16:10.790 align:start position:0% probability of getting a payment Rises Qui<00:16:09.800> quickly<00:16:10.079> to 00:16:10.790 --> 00:16:10.800 align:start position:0% Qui quickly to 00:16:10.800 --> 00:16:15.110 align:start position:0% Qui quickly to one<00:16:11.800> what's<00:16:12.040> even<00:16:12.279> more<00:16:12.839> interesting<00:16:14.120> is 00:16:15.110 --> 00:16:15.120 align:start position:0% one what's even more interesting is 00:16:15.120 --> 00:16:16.629 align:start position:0% one what's even more interesting is what's<00:16:15.319> the<00:16:15.480> chance<00:16:15.720> of<00:16:15.920> getting<00:16:16.279> some 00:16:16.629 --> 00:16:16.639 align:start position:0% what's the chance of getting some 00:16:16.639 --> 00:16:19.189 align:start position:0% what's the chance of getting some predefined<00:16:17.279> amount<00:16:17.680> of<00:16:17.959> expected<00:16:18.440> income 00:16:19.189 --> 00:16:19.199 align:start position:0% predefined amount of expected income 00:16:19.199 --> 00:16:22.430 align:start position:0% predefined amount of expected income after<00:16:19.639> a<00:16:19.759> number<00:16:20.000> of<00:16:20.120> lotteries<00:16:21.120> well<00:16:21.560> using<00:16:22.040> a 00:16:22.430 --> 00:16:22.440 align:start position:0% after a number of lotteries well using a 00:16:22.440 --> 00:16:23.910 align:start position:0% after a number of lotteries well using a simplified<00:16:22.959> approach<00:16:23.319> with<00:16:23.480> binomial 00:16:23.910 --> 00:16:23.920 align:start position:0% simplified approach with binomial 00:16:23.920 --> 00:16:25.230 align:start position:0% simplified approach with binomial cumulative 00:16:25.230 --> 00:16:25.240 align:start position:0% cumulative 00:16:25.240 --> 00:16:30.030 align:start position:0% cumulative distribution<00:16:26.240> uh<00:16:26.639> we<00:16:26.759> can<00:16:26.920> show<00:16:27.360> that<00:16:28.000> this<00:16:28.120> is 00:16:30.030 --> 00:16:30.040 align:start position:0% distribution uh we can show that this is 00:16:30.040 --> 00:16:32.790 align:start position:0% distribution uh we can show that this is this<00:16:30.199> grows<00:16:30.600> to<00:16:31.199> one<00:16:32.199> with<00:16:32.399> the<00:16:32.519> number<00:16:32.680> of 00:16:32.790 --> 00:16:32.800 align:start position:0% this grows to one with the number of 00:16:32.800 --> 00:16:35.350 align:start position:0% this grows to one with the number of lotteries<00:16:33.519> the<00:16:33.639> way<00:16:33.800> it's<00:16:34.000> presented<00:16:34.360> on<00:16:34.519> this 00:16:35.350 --> 00:16:35.360 align:start position:0% lotteries the way it's presented on this 00:16:35.360 --> 00:16:39.749 align:start position:0% lotteries the way it's presented on this graph<00:16:36.360> and<00:16:37.279> it's<00:16:37.880> pretty<00:16:38.880> convincing<00:16:39.399> that<00:16:39.560> it 00:16:39.749 --> 00:16:39.759 align:start position:0% graph and it's pretty convincing that it 00:16:39.759 --> 00:16:41.710 align:start position:0% graph and it's pretty convincing that it should<00:16:40.040> work<00:16:40.600> and<00:16:40.880> it<00:16:41.000> should<00:16:41.160> be<00:16:41.279> convincing 00:16:41.710 --> 00:16:41.720 align:start position:0% should work and it should be convincing 00:16:41.720 --> 00:16:45.949 align:start position:0% should work and it should be convincing to<00:16:41.880> users<00:16:42.720> to<00:16:43.079> take<00:16:43.319> part<00:16:43.600> take<00:16:43.839> part<00:16:44.120> in 00:16:45.949 --> 00:16:45.959 align:start position:0% to users to take part take part in 00:16:45.959 --> 00:16:48.189 align:start position:0% to users to take part take part in lotteries<00:16:46.959> thank<00:16:47.079> you<00:16:47.199> very<00:16:47.360> much<00:16:47.920> if<00:16:48.040> you 00:16:48.189 --> 00:16:48.199 align:start position:0% lotteries thank you very much if you 00:16:48.199 --> 00:16:49.470 align:start position:0% lotteries thank you very much if you have<00:16:48.319> any<00:16:48.480> question<00:16:48.759> please<00:16:48.920> don't<00:16:49.120> hesitate 00:16:49.470 --> 00:16:49.480 align:start position:0% have any question please don't hesitate 00:16:49.480 --> 00:16:59.580 align:start position:0% have any question please don't hesitate to<00:16:49.720> contact<00:16:50.120> us 00:16:59.580 --> 00:16:59.590 align:start position:0% 00:16:59.590 --> 00:17:03.919 align:start position:0% [Music]