WEBVTT Kind: captions Language: en 00:00:01.070 --> 00:00:13.590 align:start position:0% [Applause] 00:00:13.590 --> 00:00:13.600 align:start position:0% 00:00:13.600 --> 00:00:16.720 align:start position:0% it's<00:00:14.600> a<00:00:14.660> pleasure<00:00:14.900> to<00:00:14.990> be<00:00:15.110> here<00:00:15.230> it's<00:00:15.860> very 00:00:16.720 --> 00:00:16.730 align:start position:0% it's a pleasure to be here it's very 00:00:16.730 --> 00:00:18.760 align:start position:0% it's a pleasure to be here it's very nice<00:00:16.910> to<00:00:16.940> be<00:00:17.180> talking<00:00:17.540> at<00:00:17.660> Def<00:00:17.810> Con<00:00:17.840> and<00:00:18.410> four 00:00:18.760 --> 00:00:18.770 align:start position:0% nice to be talking at Def Con and four 00:00:18.770 --> 00:00:21.970 align:start position:0% nice to be talking at Def Con and four years<00:00:19.010> after<00:00:19.540> just<00:00:20.540> these<00:00:20.689> events<00:00:21.290> make<00:00:21.650> me 00:00:21.970 --> 00:00:21.980 align:start position:0% years after just these events make me 00:00:21.980 --> 00:00:24.730 align:start position:0% years after just these events make me quit<00:00:22.640> my<00:00:22.700> job<00:00:22.880> that<00:00:23.330> I<00:00:23.360> had<00:00:23.570> so<00:00:23.750> far<00:00:24.110> indicted 00:00:24.730 --> 00:00:24.740 align:start position:0% quit my job that I had so far indicted 00:00:24.740 --> 00:00:39.580 align:start position:0% quit my job that I had so far indicted to<00:00:25.070> be<00:00:25.220> pretty<00:00:25.640> full<00:00:25.910> of<00:00:26.060> function<00:00:26.560> so<00:00:38.590> alright 00:00:39.580 --> 00:00:39.590 align:start position:0% to be pretty full of function so alright 00:00:39.590 --> 00:00:42.009 align:start position:0% to be pretty full of function so alright so<00:00:39.830> I<00:00:40.280> would<00:00:40.460> like<00:00:40.580> to<00:00:40.699> start<00:00:40.940> off<00:00:41.059> with<00:00:41.120> what 00:00:42.009 --> 00:00:42.019 align:start position:0% so I would like to start off with what 00:00:42.019 --> 00:00:44.320 align:start position:0% so I would like to start off with what back<00:00:42.229> then<00:00:42.470> was<00:00:42.800> actually<00:00:43.040> the<00:00:43.550> vision<00:00:44.059> of 00:00:44.320 --> 00:00:44.330 align:start position:0% back then was actually the vision of 00:00:44.330 --> 00:00:46.299 align:start position:0% back then was actually the vision of ethereal<00:00:44.839> right<00:00:45.379> and<00:00:45.739> the<00:00:45.860> vision<00:00:46.100> of<00:00:46.190> a 00:00:46.299 --> 00:00:46.309 align:start position:0% ethereal right and the vision of a 00:00:46.309 --> 00:00:48.789 align:start position:0% ethereal right and the vision of a theorem<00:00:46.729> was<00:00:46.879> actually<00:00:47.330> not<00:00:47.540> just<00:00:47.839> a<00:00:48.170> define 00:00:48.789 --> 00:00:48.799 align:start position:0% theorem was actually not just a define 00:00:48.799 --> 00:00:51.490 align:start position:0% theorem was actually not just a define magic<00:00:49.250> Turing<00:00:49.640> machine<00:00:49.909> but<00:00:50.720> it<00:00:51.080> was<00:00:51.260> going 00:00:51.490 --> 00:00:51.500 align:start position:0% magic Turing machine but it was going 00:00:51.500 --> 00:00:54.610 align:start position:0% magic Turing machine but it was going towards<00:00:51.890> an<00:00:52.010> the<00:00:52.280> web<00:00:52.460> 3<00:00:52.879> right<00:00:53.420> and<00:00:54.229> in<00:00:54.379> fact 00:00:54.610 --> 00:00:54.620 align:start position:0% towards an the web 3 right and in fact 00:00:54.620 --> 00:00:57.310 align:start position:0% towards an the web 3 right and in fact the<00:00:54.920> theory<00:00:55.159> has<00:00:55.699> priced<00:00:56.269> many<00:00:56.659> parts<00:00:57.140> and 00:00:57.310 --> 00:00:57.320 align:start position:0% the theory has priced many parts and 00:00:57.320 --> 00:00:59.200 align:start position:0% the theory has priced many parts and adoption<00:00:57.830> was<00:00:58.010> just<00:00:58.250> one<00:00:58.430> of<00:00:58.460> them<00:00:58.699> there<00:00:59.059> was 00:00:59.200 --> 00:00:59.210 align:start position:0% adoption was just one of them there was 00:00:59.210 --> 00:01:01.890 align:start position:0% adoption was just one of them there was supposed<00:00:59.570> to<00:00:59.720> be<00:00:59.809> he<00:01:00.559> centralized<00:01:01.129> storage 00:01:01.890 --> 00:01:01.900 align:start position:0% supposed to be he centralized storage 00:01:01.900 --> 00:01:05.620 align:start position:0% supposed to be he centralized storage messaging<00:01:02.900> like<00:01:02.930> swarm<00:01:03.830> whisperer<00:01:04.339> and<00:01:04.729> then 00:01:05.620 --> 00:01:05.630 align:start position:0% messaging like swarm whisperer and then 00:01:05.630 --> 00:01:07.180 align:start position:0% messaging like swarm whisperer and then I<00:01:05.780> guess<00:01:05.990> somehow<00:01:06.260> crypto<00:01:06.770> winter<00:01:07.040> and 00:01:07.180 --> 00:01:07.190 align:start position:0% I guess somehow crypto winter and 00:01:07.190 --> 00:01:08.530 align:start position:0% I guess somehow crypto winter and happens<00:01:07.460> a<00:01:07.580> lot<00:01:07.700> of<00:01:07.820> things<00:01:08.090> shifted<00:01:08.450> around 00:01:08.530 --> 00:01:08.540 align:start position:0% happens a lot of things shifted around 00:01:08.540 --> 00:01:10.180 align:start position:0% happens a lot of things shifted around and<00:01:08.960> we're<00:01:09.229> happy<00:01:09.380> that<00:01:09.500> we<00:01:09.650> still<00:01:09.920> have<00:01:10.070> the 00:01:10.180 --> 00:01:10.190 align:start position:0% and we're happy that we still have the 00:01:10.190 --> 00:01:13.959 align:start position:0% and we're happy that we still have the ferredoxin<00:01:10.640> round<00:01:12.070> but<00:01:13.070> to<00:01:13.280> me<00:01:13.460> this<00:01:13.520> this 00:01:13.959 --> 00:01:13.969 align:start position:0% ferredoxin round but to me this this 00:01:13.969 --> 00:01:16.660 align:start position:0% ferredoxin round but to me this this whole<00:01:14.299> vision<00:01:14.600> of<00:01:15.020> this<00:01:15.229> web<00:01:15.560> 3<00:01:15.950> vision<00:01:16.399> of 00:01:16.660 --> 00:01:16.670 align:start position:0% whole vision of this web 3 vision of 00:01:16.670 --> 00:01:19.149 align:start position:0% whole vision of this web 3 vision of building<00:01:17.710> decentralized<00:01:18.710> and 00:01:19.149 --> 00:01:19.159 align:start position:0% building decentralized and 00:01:19.159 --> 00:01:21.039 align:start position:0% building decentralized and privacy-preserving<00:01:19.780> applications<00:01:20.780> and 00:01:21.039 --> 00:01:21.049 align:start position:0% privacy-preserving applications and 00:01:21.049 --> 00:01:23.499 align:start position:0% privacy-preserving applications and something<00:01:21.649> that<00:01:21.740> I<00:01:21.890> find<00:01:22.159> very<00:01:22.340> appealing<00:01:22.850> to 00:01:23.499 --> 00:01:23.509 align:start position:0% something that I find very appealing to 00:01:23.509 --> 00:01:26.080 align:start position:0% something that I find very appealing to to<00:01:24.380> going<00:01:25.100> beyond<00:01:25.429> just<00:01:25.609> financial 00:01:26.080 --> 00:01:26.090 align:start position:0% to going beyond just financial 00:01:26.090 --> 00:01:27.910 align:start position:0% to going beyond just financial applications<00:01:26.810> because<00:01:27.049> me<00:01:27.200> personally<00:01:27.679> I 00:01:27.910 --> 00:01:27.920 align:start position:0% applications because me personally I 00:01:27.920 --> 00:01:30.340 align:start position:0% applications because me personally I mean<00:01:28.280> my<00:01:28.549> banking<00:01:29.479> is<00:01:29.600> not<00:01:29.630> the<00:01:29.869> most<00:01:30.020> exciting 00:01:30.340 --> 00:01:30.350 align:start position:0% mean my banking is not the most exciting 00:01:30.350 --> 00:01:33.580 align:start position:0% mean my banking is not the most exciting application<00:01:31.189> I<00:01:31.310> have<00:01:31.340> and<00:01:32.049> in<00:01:33.049> the<00:01:33.079> meantime<00:01:33.350> a 00:01:33.580 --> 00:01:33.590 align:start position:0% application I have and in the meantime a 00:01:33.590 --> 00:01:35.260 align:start position:0% application I have and in the meantime a bunch<00:01:34.009> of<00:01:34.159> things<00:01:34.429> happen<00:01:34.820> in<00:01:34.909> a<00:01:35.000> bunch<00:01:35.149> of 00:01:35.260 --> 00:01:35.270 align:start position:0% bunch of things happen in a bunch of 00:01:35.270 --> 00:01:37.719 align:start position:0% bunch of things happen in a bunch of things<00:01:35.479> and<00:01:35.869> have<00:01:36.350> also<00:01:36.829> quite<00:01:37.280> a<00:01:37.310> focus<00:01:37.670> of 00:01:37.719 --> 00:01:37.729 align:start position:0% things and have also quite a focus of 00:01:37.729 --> 00:01:39.550 align:start position:0% things and have also quite a focus of privacy<00:01:38.210> like<00:01:38.390> we<00:01:38.600> heard<00:01:38.840> already<00:01:39.079> the<00:01:39.350> town 00:01:39.550 --> 00:01:39.560 align:start position:0% privacy like we heard already the town 00:01:39.560 --> 00:01:42.669 align:start position:0% privacy like we heard already the town right<00:01:39.770> now<00:01:40.039> that<00:01:40.909> we<00:01:41.630> have<00:01:41.749> mixers<00:01:42.079> right<00:01:42.439> so 00:01:42.669 --> 00:01:42.679 align:start position:0% right now that we have mixers right so 00:01:42.679 --> 00:01:44.860 align:start position:0% right now that we have mixers right so transaction<00:01:43.460> value<00:01:43.999> can 00:01:44.860 --> 00:01:44.870 align:start position:0% transaction value can 00:01:44.870 --> 00:01:47.170 align:start position:0% transaction value can relatively<00:01:45.230> well<00:01:45.530> in<00:01:46.010> a<00:01:46.700> decent<00:01:47.000> manner 00:01:47.170 --> 00:01:47.180 align:start position:0% relatively well in a decent manner 00:01:47.180 --> 00:01:49.060 align:start position:0% relatively well in a decent manner compassion<00:01:47.900> we've<00:01:48.650> seen<00:01:48.830> a<00:01:48.860> lot<00:01:49.040> of 00:01:49.060 --> 00:01:49.070 align:start position:0% compassion we've seen a lot of 00:01:49.070 --> 00:01:52.060 align:start position:0% compassion we've seen a lot of publications<00:01:49.670> there<00:01:49.910> we<00:01:50.660> also<00:01:50.870> see<00:01:51.320> quite<00:01:52.040> a 00:01:52.060 --> 00:01:52.070 align:start position:0% publications there we also see quite a 00:01:52.070 --> 00:01:54.700 align:start position:0% publications there we also see quite a movement<00:01:52.490> on<00:01:52.880> the<00:01:53.360> storage<00:01:53.630> front<00:01:54.050> right<00:01:54.350> so 00:01:54.700 --> 00:01:54.710 align:start position:0% movement on the storage front right so 00:01:54.710 --> 00:01:57.970 align:start position:0% movement on the storage front right so obviously<00:01:55.060> I<00:01:56.060> give<00:01:56.300> this<00:01:56.450> Falcon<00:01:56.810> guys<00:01:57.530> what 00:01:57.970 --> 00:01:57.980 align:start position:0% obviously I give this Falcon guys what 00:01:57.980 --> 00:01:59.770 align:start position:0% obviously I give this Falcon guys what else<00:01:58.070> is<00:01:58.250> store<00:01:58.490> Jade<00:01:58.730> which<00:01:59.150> I<00:01:59.270> heard<00:01:59.480> runs 00:01:59.770 --> 00:01:59.780 align:start position:0% else is store Jade which I heard runs 00:01:59.780 --> 00:02:03.430 align:start position:0% else is store Jade which I heard runs negative<00:02:00.230> as<00:02:00.410> I<00:02:00.680> and<00:02:01.550> a<00:02:01.730> bunch<00:02:01.760> of<00:02:02.030> others<00:02:02.440> we 00:02:03.430 --> 00:02:03.440 align:start position:0% negative as I and a bunch of others we 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privacy<00:02:11.320> but<00:02:12.320> what<00:02:12.710> I<00:02:12.740> would<00:02:12.980> like<00:02:13.100> to<00:02:13.160> talk 00:02:13.480 --> 00:02:13.490 align:start position:0% privacy but what I would like to talk 00:02:13.490 --> 00:02:15.880 align:start position:0% privacy but what I would like to talk about<00:02:13.670> more<00:02:14.060> is<00:02:14.360> that<00:02:14.410> from<00:02:15.410> many<00:02:15.560> of<00:02:15.770> these 00:02:15.880 --> 00:02:15.890 align:start position:0% about more is that from many of these 00:02:15.890 --> 00:02:17.230 align:start position:0% about more is that from many of these applications<00:02:16.550> we<00:02:16.700> really<00:02:16.970> need<00:02:17.150> the 00:02:17.230 --> 00:02:17.240 align:start position:0% applications we really need the 00:02:17.240 --> 00:02:20.440 align:start position:0% applications we really need the fundamental<00:02:18.010> privacy<00:02:19.010> foundation<00:02:19.550> to<00:02:20.150> enable 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still problem but this is<00:02:44.630> from<00:02:44.810> the<00:02:44.900> tornado<00:02:45.110> website<00:02:45.710> right<00:02:45.980> so<00:02:46.310> if 00:02:46.570 --> 00:02:46.580 align:start position:0% is from the tornado website right so if 00:02:46.580 --> 00:02:48.280 align:start position:0% is from the tornado website right so if you<00:02:46.700> try<00:02:46.940> to<00:02:47.000> use<00:02:47.270> who<00:02:47.750> you're<00:02:47.960> used<00:02:48.170> to 00:02:48.280 --> 00:02:48.290 align:start position:0% you try to use who you're used to 00:02:48.290 --> 00:02:51.130 align:start position:0% you try to use who you're used to tornado<00:02:48.650> actually<00:02:48.800> anybody<00:02:49.550> use<00:02:49.820> mixers<00:02:50.300> okay 00:02:51.130 --> 00:02:51.140 align:start position:0% tornado actually anybody use mixers okay 00:02:51.140 --> 00:02:52.870 align:start position:0% tornado actually anybody use mixers okay so<00:02:51.440> you<00:02:51.500> just<00:02:51.680> need<00:02:51.920> some<00:02:52.190> metadata<00:02:52.520> by<00:02:52.820> the 00:02:52.870 --> 00:02:52.880 align:start position:0% so you just need some metadata by the 00:02:52.880 --> 00:02:57.880 align:start position:0% so you just need some metadata by the way<00:02:54.550> so<00:02:55.550> yeah<00:02:56.510> this<00:02:56.840> is<00:02:56.900> what<00:02:57.200> you<00:02:57.350> find<00:02:57.410> on<00:02:57.860> the 00:02:57.880 --> 00:02:57.890 align:start position:0% way so yeah this is what you find on the 00:02:57.890 --> 00:02:59.560 align:start position:0% way so yeah this is what you find on the website<00:02:58.130> make<00:02:58.580> sure<00:02:58.610> to<00:02:58.910> use<00:02:59.030> different<00:02:59.330> IP 00:02:59.560 --> 00:02:59.570 align:start position:0% website make sure to use different IP 00:02:59.570 --> 00:03:01.810 align:start position:0% website make sure to use different IP addresses<00:02:59.720> for<00:03:00.290> deposited<00:03:00.800> withdrawals<00:03:01.220> we 00:03:01.810 --> 00:03:01.820 align:start position:0% addresses for deposited withdrawals we 00:03:01.820 --> 00:03:04.120 align:start position:0% addresses for deposited withdrawals we prevent<00:03:02.120> bruising<00:03:02.989> tor<00:03:03.200> browser<00:03:03.350> or<00:03:03.709> VPN 00:03:04.120 --> 00:03:04.130 align:start position:0% prevent bruising tor browser or VPN 00:03:04.130 --> 00:03:08.020 align:start position:0% prevent bruising tor browser or VPN right<00:03:04.730> that<00:03:05.390> sounds<00:03:05.720> fine<00:03:05.959> and<00:03:06.459> but<00:03:07.459> actually 00:03:08.020 --> 00:03:08.030 align:start position:0% right that sounds fine and but actually 00:03:08.030 --> 00:03:10.840 align:start position:0% right that sounds fine and but actually neither<00:03:08.360> door<00:03:08.840> nor<00:03:08.870> VPN<00:03:09.770> are<00:03:10.130> suitable<00:03:10.580> in<00:03:10.700> my 00:03:10.840 --> 00:03:10.850 align:start position:0% neither door nor VPN are suitable in my 00:03:10.850 --> 00:03:13.810 align:start position:0% neither door nor VPN are suitable in my mind<00:03:11.120> to<00:03:11.420> this<00:03:11.930> defy<00:03:12.470> level<00:03:12.830> privacy<00:03:13.489> which 00:03:13.810 --> 00:03:13.820 align:start position:0% mind to this defy level privacy which 00:03:13.820 --> 00:03:15.310 align:start position:0% mind to this defy level privacy which we're<00:03:14.030> striving<00:03:14.270> for<00:03:14.450> here 00:03:15.310 --> 00:03:15.320 align:start position:0% we're striving for here 00:03:15.320 --> 00:03:17.800 align:start position:0% we're striving for here so<00:03:15.590> tor<00:03:15.920> is<00:03:16.190> not<00:03:16.520> decentralized<00:03:17.239> at<00:03:17.420> all<00:03:17.570> it's 00:03:17.800 --> 00:03:17.810 align:start position:0% so tor is not decentralized at all it's 00:03:17.810 --> 00:03:20.560 align:start position:0% so tor is not decentralized at all it's relatively<00:03:18.350> easy<00:03:18.770> to<00:03:19.150> Indian<00:03:20.150> on<00:03:20.300> amaizing 00:03:20.560 --> 00:03:20.570 align:start position:0% relatively easy to Indian on amaizing 00:03:20.570 --> 00:03:22.840 align:start position:0% relatively easy to Indian on amaizing there's<00:03:20.959> like<00:03:21.200> a<00:03:21.230> body<00:03:21.800> of<00:03:21.980> research<00:03:22.160> on<00:03:22.670> that 00:03:22.840 --> 00:03:22.850 align:start position:0% there's like a body of research on that 00:03:22.850 --> 00:03:23.880 align:start position:0% there's like a body of research on that fault 00:03:23.880 --> 00:03:23.890 align:start position:0% fault 00:03:23.890 --> 00:03:26.700 align:start position:0% fault and<00:03:24.370> VPNs<00:03:24.850> are<00:03:25.090> primarily<00:03:25.710> corporate 00:03:26.700 --> 00:03:26.710 align:start position:0% and VPNs are primarily corporate 00:03:26.710 --> 00:03:29.130 align:start position:0% and VPNs are primarily corporate entities<00:03:27.130> that<00:03:27.550> are<00:03:27.880> in<00:03:28.540> all<00:03:28.720> encountering 00:03:29.130 --> 00:03:29.140 align:start position:0% entities that are in all encountering 00:03:29.140 --> 00:03:30.900 align:start position:0% entities that are in all encountering some<00:03:29.500> data<00:03:29.710> and<00:03:30.100> making<00:03:30.280> it<00:03:30.460> available<00:03:30.550> for 00:03:30.900 --> 00:03:30.910 align:start position:0% some data and making it available for 00:03:30.910 --> 00:03:33.090 align:start position:0% some data and making it available for whoever<00:03:31.480> needs<00:03:31.780> them<00:03:31.990> and<00:03:32.200> or<00:03:32.590> for<00:03:32.800> whoever 00:03:33.090 --> 00:03:33.100 align:start position:0% whoever needs them and or for whoever 00:03:33.100 --> 00:03:35.370 align:start position:0% whoever needs them and or for whoever pays<00:03:33.250> for<00:03:33.760> it<00:03:33.880> right<00:03:34.150> so<00:03:34.900> this<00:03:34.990> is<00:03:35.050> the 00:03:35.370 --> 00:03:35.380 align:start position:0% pays for it right so this is the 00:03:35.380 --> 00:03:38.250 align:start position:0% pays for it right so this is the business<00:03:35.590> model<00:03:35.800> of<00:03:36.130> VPNs<00:03:36.810> now<00:03:37.810> more 00:03:38.250 --> 00:03:38.260 align:start position:0% business model of VPNs now more 00:03:38.260 --> 00:03:40.710 align:start position:0% business model of VPNs now more specifically<00:03:39.300> broadcasting<00:03:40.300> is<00:03:40.510> not 00:03:40.710 --> 00:03:40.720 align:start position:0% specifically broadcasting is not 00:03:40.720 --> 00:03:41.790 align:start position:0% specifically broadcasting is not privacy-preserving 00:03:41.790 --> 00:03:41.800 align:start position:0% privacy-preserving 00:03:41.800 --> 00:03:43.830 align:start position:0% privacy-preserving and<00:03:42.370> or<00:03:42.610> electra<00:03:42.910> mellon<00:03:43.180> is<00:03:43.300> here<00:03:43.570> because<00:03:43.660> i 00:03:43.830 --> 00:03:43.840 align:start position:0% and or electra mellon is here because i 00:03:43.840 --> 00:03:45.540 align:start position:0% and or electra mellon is here because i see<00:03:44.050> a<00:03:44.080> lot<00:03:44.260> of<00:03:44.290> inflation<00:03:44.740> between<00:03:45.040> cannot 00:03:45.540 --> 00:03:45.550 align:start position:0% see a lot of inflation between cannot 00:03:45.550 --> 00:03:47.310 align:start position:0% see a lot of inflation between cannot broadcast<00:03:45.820> place<00:03:46.330> schemes<00:03:46.900> and<00:03:47.110> mesh 00:03:47.310 --> 00:03:47.320 align:start position:0% broadcast place schemes and mesh 00:03:47.320 --> 00:03:49.530 align:start position:0% broadcast place schemes and mesh networks<00:03:47.830> i<00:03:48.190> think<00:03:48.730> especially<00:03:48.820> Bitcoin 00:03:49.530 --> 00:03:49.540 align:start position:0% networks i think especially Bitcoin 00:03:49.540 --> 00:03:51.360 align:start position:0% networks i think especially Bitcoin ecosystem<00:03:49.690> you<00:03:50.560> hear<00:03:50.710> that<00:03:50.800> every<00:03:51.010> now<00:03:51.160> that 00:03:51.360 --> 00:03:51.370 align:start position:0% ecosystem you hear that every now that 00:03:51.370 --> 00:03:53.130 align:start position:0% ecosystem you hear that every now that we<00:03:51.520> and<00:03:51.640> then<00:03:51.850> we<00:03:52.060> have<00:03:52.240> this<00:03:52.330> mesh<00:03:52.630> networking 00:03:53.130 --> 00:03:53.140 align:start position:0% we and then we have this mesh networking 00:03:53.140 --> 00:03:54.780 align:start position:0% we and then we have this mesh networking this<00:03:53.500> mesh<00:03:53.740> network<00:03:54.190> and<00:03:54.400> that's<00:03:54.460> why<00:03:54.670> it's 00:03:54.780 --> 00:03:54.790 align:start position:0% this mesh network and that's why it's 00:03:54.790 --> 00:03:55.620 align:start position:0% this mesh network and that's why it's private<00:03:55.270> right 00:03:55.620 --> 00:03:55.630 align:start position:0% private right 00:03:55.630 --> 00:03:58.170 align:start position:0% private right no<00:03:56.020> mesh<00:03:56.380> network<00:03:56.770> is<00:03:56.920> not<00:03:57.070> prank<00:03:57.400> privacy<00:03:57.910> and 00:03:58.170 --> 00:03:58.180 align:start position:0% no mesh network is not prank privacy and 00:03:58.180 --> 00:04:01.020 align:start position:0% no mesh network is not prank privacy and the<00:03:58.570> same<00:03:58.810> goes<00:03:59.080> for<00:03:59.350> any<00:04:00.010> other<00:04:00.160> broadcasting 00:04:01.020 --> 00:04:01.030 align:start position:0% the same goes for any other broadcasting 00:04:01.030 --> 00:04:04.500 align:start position:0% the same goes for any other broadcasting basis<00:04:01.390> scheme<00:04:01.770> so<00:04:02.770> I<00:04:03.220> would<00:04:03.970> like<00:04:04.180> to<00:04:04.360> briefly 00:04:04.500 --> 00:04:04.510 align:start position:0% basis scheme so I would like to briefly 00:04:04.510 --> 00:04:07.890 align:start position:0% basis scheme so I would like to briefly go<00:04:04.900> through<00:04:05.290> an<00:04:05.380> example<00:04:05.920> so<00:04:06.450> we<00:04:07.450> come<00:04:07.690> up<00:04:07.720> with 00:04:07.890 --> 00:04:07.900 align:start position:0% go through an example so we come up with 00:04:07.900 --> 00:04:10.620 align:start position:0% go through an example so we come up with a<00:04:07.930> hypothetical<00:04:08.410> network<00:04:09.010> so<00:04:09.280> topology<00:04:09.670> is 00:04:10.620 --> 00:04:10.630 align:start position:0% a hypothetical network so topology is 00:04:10.630 --> 00:04:14.100 align:start position:0% a hypothetical network so topology is having<00:04:11.620> some<00:04:11.860> notes<00:04:12.100> and<00:04:12.460> initially<00:04:13.210> no<00:04:13.450> no 00:04:14.100 --> 00:04:14.110 align:start position:0% having some notes and initially no no 00:04:14.110 --> 00:04:16.710 align:start position:0% having some notes and initially no no particular<00:04:14.860> transaction<00:04:15.640> once<00:04:16.299> they<00:04:16.420> do<00:04:16.570> no 00:04:16.710 --> 00:04:16.720 align:start position:0% particular transaction once they do no 00:04:16.720 --> 00:04:19.080 align:start position:0% particular transaction once they do no transaction<00:04:17.170> we<00:04:17.500> market<00:04:17.799> as<00:04:17.920> X<00:04:18.190> in<00:04:18.670> between<00:04:19.000> we 00:04:19.080 --> 00:04:19.090 align:start position:0% transaction we market as X in between we 00:04:19.090 --> 00:04:20.970 align:start position:0% transaction we market as X in between we draw<00:04:19.360> some<00:04:19.420> lines<00:04:19.810> that<00:04:19.960> show<00:04:20.320> the<00:04:20.500> edges<00:04:20.830> of 00:04:20.970 --> 00:04:20.980 align:start position:0% draw some lines that show the edges of 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you<00:04:27.250> know<00:04:27.400> anything<00:04:28.030> can<00:04:28.180> can<00:04:28.720> find 00:04:29.070 --> 00:04:29.080 align:start position:0% create you know anything can can find 00:04:29.080 --> 00:04:31.230 align:start position:0% create you know anything can can find out<00:04:29.290> who<00:04:29.950> has<00:04:30.130> what<00:04:30.340> transaction<00:04:30.880> at<00:04:31.030> what 00:04:31.230 --> 00:04:31.240 align:start position:0% out who has what transaction at what 00:04:31.240 --> 00:04:35.670 align:start position:0% out who has what transaction at what time<00:04:32.520> so<00:04:33.520> our<00:04:33.850> hypothetical<00:04:34.270> and<00:04:35.200> network 00:04:35.670 --> 00:04:35.680 align:start position:0% time so our hypothetical and network 00:04:35.680 --> 00:04:39.000 align:start position:0% time so our hypothetical and network topology<00:04:36.280> looks<00:04:36.610> like<00:04:36.790> this<00:04:37.230> right<00:04:38.230> and<00:04:38.620> what 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all of the notes in the<00:04:47.120> network<00:04:47.540> you<00:04:47.870> can<00:04:48.590> of<00:04:48.710> course<00:04:48.740> what<00:04:49.400> you 00:04:49.720 --> 00:04:49.730 align:start position:0% the network you can of course what you 00:04:49.730 --> 00:04:52.360 align:start position:0% the network you can of course what you were<00:04:49.820> just<00:04:50.030> seeing<00:04:50.380> you<00:04:51.380> were<00:04:51.590> a<00:04:51.890> passive 00:04:52.360 --> 00:04:52.370 align:start position:0% were just seeing you were a passive 00:04:52.370 --> 00:04:55.060 align:start position:0% were just seeing you were a passive observer<00:04:52.640> of<00:04:53.030> the<00:04:53.330> network<00:04:53.690> and<00:04:54.410> you<00:04:54.830> as<00:04:54.950> a 00:04:55.060 --> 00:04:55.070 align:start position:0% observer of the network and you as a 00:04:55.070 --> 00:04:57.220 align:start position:0% observer of the network and you as a passive<00:04:55.460> observer<00:04:55.670> of<00:04:56.030> the<00:04:56.180> network<00:04:56.630> we're 00:04:57.220 --> 00:04:57.230 align:start position:0% passive observer of the network we're 00:04:57.230 --> 00:04:59.170 align:start position:0% passive observer of the network we're just<00:04:57.410> finding<00:04:57.650> out<00:04:57.920> where<00:04:58.550> this<00:04:58.700> transaction 00:04:59.170 --> 00:04:59.180 align:start position:0% just finding out where this transaction 00:04:59.180 --> 00:05:01.450 align:start position:0% just finding out where this transaction originated<00:04:59.960> from<00:05:00.110> and<00:05:00.530> this<00:05:01.130> is<00:05:01.280> something 00:05:01.450 --> 00:05:01.460 align:start position:0% originated from and this is something 00:05:01.460 --> 00:05:03.070 align:start position:0% originated from and this is something that<00:05:01.610> touches<00:05:02.000> you<00:05:02.390> can<00:05:02.450> do<00:05:02.750> this<00:05:02.960> is 00:05:03.070 --> 00:05:03.080 align:start position:0% that touches you can do this is 00:05:03.080 --> 00:05:04.960 align:start position:0% that touches you can do this is basically<00:05:03.470> something<00:05:04.250> that<00:05:04.400> anybody<00:05:04.820> out 00:05:04.960 --> 00:05:04.970 align:start position:0% basically something that anybody out 00:05:04.970 --> 00:05:08.370 align:start position:0% basically something that anybody out there<00:05:05.000> can<00:05:05.240> do<00:05:05.630> which<00:05:06.260> is<00:05:06.380> pretty<00:05:06.590> bad<00:05:06.860> for<00:05:07.520> a 00:05:08.370 --> 00:05:08.380 align:start position:0% there can do which is pretty bad for a 00:05:08.380 --> 00:05:10.450 align:start position:0% there can do which is pretty bad for a decentralized<00:05:09.380> system<00:05:09.590> that<00:05:10.010> wants<00:05:10.190> to<00:05:10.250> bring 00:05:10.450 --> 00:05:10.460 align:start position:0% decentralized system that wants to bring 00:05:10.460 --> 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made this<00:05:16.160> suggestion<00:05:16.610> right<00:05:17.030> to<00:05:17.270> use<00:05:17.480> and<00:05:18.230> cannot 00:05:18.640 --> 00:05:18.650 align:start position:0% this suggestion right to use and cannot 00:05:18.650 --> 00:05:23.620 align:start position:0% this suggestion right to use and cannot talk<00:05:19.510> and<00:05:20.510> finally<00:05:21.440> one<00:05:22.160> one<00:05:22.460> example<00:05:22.820> that<00:05:23.030> I 00:05:23.620 --> 00:05:23.630 align:start position:0% talk and finally one one example that I 00:05:23.630 --> 00:05:27.400 align:start position:0% talk and finally one one example that I find<00:05:23.930> particularly<00:05:24.470> striking<00:05:25.010> is<00:05:26.380> today<00:05:27.380> I 00:05:27.400 --> 00:05:27.410 align:start position:0% find particularly striking is today I 00:05:27.410 --> 00:05:29.410 align:start position:0% find particularly striking is today I think<00:05:27.890> we<00:05:28.010> still<00:05:28.220> live<00:05:28.400> in<00:05:28.430> this<00:05:28.610> frontier 00:05:29.410 --> 00:05:29.420 align:start position:0% think we still live in this frontier 00:05:29.420 --> 00:05:31.510 align:start position:0% think we still live in this frontier world<00:05:29.810> right<00:05:30.020> so<00:05:30.230> to<00:05:30.440> me<00:05:30.590> this<00:05:30.740> is<00:05:30.800> we're 00:05:31.510 --> 00:05:31.520 align:start position:0% world right so to me this is we're 00:05:31.520 --> 00:05:34.840 align:start position:0% world right so to me this is we're really<00:05:31.760> mostly<00:05:32.540> at<00:05:32.780> least<00:05:32.990> here<00:05:33.650> in<00:05:33.680> 0.1<00:05:34.370> stage 00:05:34.840 --> 00:05:34.850 align:start position:0% really mostly at least here in 0.1 stage 00:05:34.850 --> 00:05:37.900 align:start position:0% really mostly at least here in 0.1 stage right<00:05:35.420> so<00:05:36.140> what<00:05:36.320> we<00:05:36.470> see<00:05:36.770> is<00:05:37.190> that<00:05:37.250> when<00:05:37.730> you 00:05:37.900 --> 00:05:37.910 align:start position:0% right so what we see is that when you 00:05:37.910 --> 00:05:39.910 align:start position:0% right so what we see is that when you near<00:05:38.150> Denver<00:05:38.510> and<00:05:38.660> Osaka<00:05:38.960> you<00:05:39.260> have<00:05:39.440> minimized 00:05:39.910 --> 00:05:39.920 align:start position:0% near Denver and Osaka you have minimized 00:05:39.920 --> 00:05:42.910 align:start position:0% near Denver and Osaka you have minimized and<00:05:40.160> connects<00:05:40.700> to<00:05:40.940> well<00:05:41.600> default<00:05:42.350> if<00:05:42.530> you<00:05:42.560> are 00:05:42.910 --> 00:05:42.920 align:start position:0% and connects to well default if you are 00:05:42.920 --> 00:05:45.280 align:start position:0% and connects to well default if you are right<00:05:43.190> let's<00:05:43.520> face<00:05:43.730> it<00:05:43.760> that<00:05:44.570> connects<00:05:45.050> them 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this 00:05:57.440 --> 00:05:59.500 align:start position:0% can connect to all right so this is this is<00:05:57.590> what<00:05:57.740> we<00:05:57.860> can<00:05:57.980> do<00:05:58.130> and<00:05:58.700> still<00:05:59.090> like<00:05:59.270> your 00:05:59.500 --> 00:05:59.510 align:start position:0% is what we can do and still like your 00:05:59.510 --> 00:06:01.960 align:start position:0% is what we can do and still like your hotel<00:05:59.870> Wi-Fi<00:06:00.050> provider<00:06:00.650> their<00:06:01.280> eyes<00:06:01.460> pee<00:06:01.850> and 00:06:01.960 --> 00:06:01.970 align:start position:0% hotel Wi-Fi provider their eyes pee and 00:06:01.970 --> 00:06:03.850 align:start position:0% hotel Wi-Fi provider their eyes pee and everybody<00:06:02.300> in<00:06:02.450> between<00:06:02.600> can<00:06:03.530> pretty<00:06:03.770> easily 00:06:03.850 --> 00:06:03.860 align:start position:0% everybody in between can pretty easily 00:06:03.860 --> 00:06:06.490 align:start position:0% everybody in between can pretty easily find<00:06:04.520> out<00:06:04.760> that<00:06:05.090> you're<00:06:05.750> accessing<00:06:06.169> your 00:06:06.490 --> 00:06:06.500 align:start position:0% find out that you're accessing your 00:06:06.500 --> 00:06:08.350 align:start position:0% find out that you're accessing your service<00:06:06.919> and<00:06:07.160> that<00:06:07.340> you<00:06:07.520> probably<00:06:07.970> just 00:06:08.350 --> 00:06:08.360 align:start position:0% service and that you probably just 00:06:08.360 --> 00:06:11.740 align:start position:0% service and that you probably just broadcasted<00:06:09.110> a<00:06:09.290> transaction<00:06:09.950> or<00:06:10.010> tornado<00:06:10.750> so 00:06:11.740 --> 00:06:11.750 align:start position:0% broadcasted a transaction or tornado so 00:06:11.750 --> 00:06:14.740 align:start position:0% broadcasted a transaction or tornado so what<00:06:12.440> I<00:06:12.470> would<00:06:12.590> like<00:06:12.830> to<00:06:12.980> see<00:06:13.190> is<00:06:13.490> like<00:06:13.700> a<00:06:13.750> less 00:06:14.740 --> 00:06:14.750 align:start position:0% what I would like to see is like a less 00:06:14.750 --> 00:06:19.090 align:start position:0% what I would like to see is like a less less<00:06:16.300> less<00:06:17.300> revealing<00:06:17.810> link<00:06:18.350> between<00:06:18.650> you<00:06:19.070> and 00:06:19.090 --> 00:06:19.100 align:start position:0% less less revealing link between you and 00:06:19.100 --> 00:06:23.279 align:start position:0% less less revealing link between you and your<00:06:19.370> dad<00:06:19.700> and<00:06:20.060> actually<00:06:20.960> the<00:06:21.380> knows<00:06:21.560> that 00:06:23.279 --> 00:06:23.289 align:start position:0% your dad and actually the knows that 00:06:23.289 --> 00:06:26.219 align:start position:0% your dad and actually the knows that interface<00:06:23.789> so<00:06:24.789> this<00:06:25.149> is<00:06:25.300> what<00:06:25.479> we<00:06:25.659> want<00:06:26.020> to<00:06:26.080> do 00:06:26.219 --> 00:06:26.229 align:start position:0% interface so this is what we want to do 00:06:26.229 --> 00:06:27.989 align:start position:0% interface so this is what we want to do with<00:06:26.379> Humber<00:06:26.710> to<00:06:26.979> connect<00:06:27.279> you<00:06:27.460> your<00:06:27.639> wallet 00:06:27.989 --> 00:06:27.999 align:start position:0% with Humber to connect you your wallet 00:06:27.999 --> 00:06:29.909 align:start position:0% with Humber to connect you your wallet and<00:06:28.240> to<00:06:29.020> metadata 00:06:29.909 --> 00:06:29.919 align:start position:0% and to metadata 00:06:29.919 --> 00:06:34.549 align:start position:0% and to metadata private<00:06:31.710> now<00:06:32.710> popper<00:06:33.490> is<00:06:33.639> decentralized 00:06:34.549 --> 00:06:34.559 align:start position:0% private now popper is decentralized 00:06:34.559 --> 00:06:37.230 align:start position:0% private now popper is decentralized incentivize<00:06:35.559> privacy-preserving<00:06:36.240> messaging 00:06:37.230 --> 00:06:37.240 align:start position:0% incentivize privacy-preserving messaging 00:06:37.240 --> 00:06:39.059 align:start position:0% incentivize privacy-preserving messaging protocol<00:06:37.689> so<00:06:38.050> we<00:06:38.080> don't<00:06:38.379> build<00:06:38.680> a<00:06:38.860> chat 00:06:39.059 --> 00:06:39.069 align:start position:0% protocol so we don't build a chat 00:06:39.069 --> 00:06:40.829 align:start position:0% protocol so we don't build a chat application<00:06:39.249> people<00:06:39.909> can<00:06:40.029> build<00:06:40.210> on<00:06:40.449> top<00:06:40.629> off 00:06:40.829 --> 00:06:40.839 align:start position:0% application people can build on top off 00:06:40.839 --> 00:06:42.679 align:start position:0% application people can build on top off on<00:06:41.349> top<00:06:41.529> of<00:06:41.680> that 00:06:42.679 --> 00:06:42.689 align:start position:0% on top of that 00:06:42.689 --> 00:06:45.689 align:start position:0% on top of that poppers<00:06:43.689> also<00:06:44.139> it<00:06:44.559> makes<00:06:44.770> net<00:06:45.039> so<00:06:45.249> now<00:06:45.369> we<00:06:45.430> are 00:06:45.689 --> 00:06:45.699 align:start position:0% poppers also it makes net so now we are 00:06:45.699 --> 00:06:48.209 align:start position:0% poppers also it makes net so now we are just<00:06:45.909> very<00:06:45.969> briefly<00:06:46.509> in<00:06:46.809> how<00:06:47.080> we<00:06:47.139> achieve<00:06:47.680> this 00:06:48.209 --> 00:06:48.219 align:start position:0% just very briefly in how we achieve this 00:06:48.219 --> 00:06:50.459 align:start position:0% just very briefly in how we achieve this privacy<00:06:48.909> so<00:06:49.389> makes<00:06:49.629> that<00:06:49.809> basically<00:06:50.169> means 00:06:50.459 --> 00:06:50.469 align:start position:0% privacy so makes that basically means 00:06:50.469 --> 00:06:52.859 align:start position:0% privacy so makes that basically means that<00:06:50.649> notes<00:06:51.460> and<00:06:51.699> sending<00:06:51.909> messages<00:06:52.059> these 00:06:52.859 --> 00:06:52.869 align:start position:0% that notes and sending messages these 00:06:52.869 --> 00:06:54.959 align:start position:0% that notes and sending messages these messages<00:06:52.930> are<00:06:53.589> received<00:06:53.740> by<00:06:54.219> every<00:06:54.759> layer 00:06:54.959 --> 00:06:54.969 align:start position:0% messages are received by every layer 00:06:54.969 --> 00:06:57.389 align:start position:0% messages are received by every layer which<00:06:55.479> is<00:06:55.689> short<00:06:56.169> term<00:06:56.349> caching<00:06:56.860> them<00:06:57.039> and<00:06:57.279> we 00:06:57.389 --> 00:06:57.399 align:start position:0% which is short term caching them and we 00:06:57.399 --> 00:06:59.459 align:start position:0% which is short term caching them and we keep<00:06:57.789> this<00:06:57.939> updatable<00:06:58.599> so<00:06:58.809> that<00:06:58.959> it<00:06:59.080> can<00:06:59.259> cater 00:06:59.459 --> 00:06:59.469 align:start position:0% keep this updatable so that it can cater 00:06:59.469 --> 00:07:01.920 align:start position:0% keep this updatable so that it can cater to<00:06:59.740> different<00:06:59.889> types<00:07:00.369> of<00:07:00.580> applications<00:07:01.180> is 00:07:01.920 --> 00:07:01.930 align:start position:0% to different types of applications is 00:07:01.930 --> 00:07:03.510 align:start position:0% to different types of applications is then<00:07:02.259> mixing<00:07:02.709> the<00:07:02.860> ordering<00:07:03.249> of<00:07:03.459> the 00:07:03.510 --> 00:07:03.520 align:start position:0% then mixing the ordering of the 00:07:03.520 --> 00:07:05.639 align:start position:0% then mixing the ordering of the transaction<00:07:04.360> before<00:07:04.959> they<00:07:05.259> are<00:07:05.289> replaying 00:07:05.639 --> 00:07:05.649 align:start position:0% transaction before they are replaying 00:07:05.649 --> 00:07:08.100 align:start position:0% transaction before they are replaying them<00:07:05.979> in<00:07:06.249> a<00:07:06.550> different<00:07:06.909> order<00:07:07.119> and<00:07:07.419> what<00:07:08.020> is 00:07:08.100 --> 00:07:08.110 align:start position:0% them in a different order and what is 00:07:08.110 --> 00:07:10.769 align:start position:0% them in a different order and what is important<00:07:08.649> is<00:07:08.919> that<00:07:08.999> incoming<00:07:09.999> transaction 00:07:10.769 --> 00:07:10.779 align:start position:0% important is that incoming transaction 00:07:10.779 --> 00:07:13.469 align:start position:0% important is that incoming transaction and<00:07:11.020> an<00:07:11.319> outgoing<00:07:11.740> transaction<00:07:12.550> cannot<00:07:13.300> be 00:07:13.469 --> 00:07:13.479 align:start position:0% and an outgoing transaction cannot be 00:07:13.479 --> 00:07:15.480 align:start position:0% and an outgoing transaction cannot be linked<00:07:13.809> right<00:07:14.229> they<00:07:14.499> look<00:07:14.709> different<00:07:15.219> and 00:07:15.480 --> 00:07:15.490 align:start position:0% linked right they look different and 00:07:15.490 --> 00:07:17.639 align:start position:0% linked right they look different and there<00:07:15.849> are<00:07:15.969> some<00:07:16.180> packet<00:07:16.509> formats<00:07:16.930> that<00:07:17.229> are 00:07:17.639 --> 00:07:17.649 align:start position:0% there are some packet formats that are 00:07:17.649 --> 00:07:20.399 align:start position:0% there are some packet formats that are optimized<00:07:18.219> for<00:07:18.520> exactly<00:07:18.879> that<00:07:19.089> so<00:07:19.839> that<00:07:20.020> your 00:07:20.399 --> 00:07:20.409 align:start position:0% optimized for exactly that so that your 00:07:20.409 --> 00:07:22.499 align:start position:0% optimized for exactly that so that your traffic<00:07:21.339> cannot<00:07:21.789> be<00:07:21.969> linked<00:07:22.330> between 00:07:22.499 --> 00:07:22.509 align:start position:0% traffic cannot be linked between 00:07:22.509 --> 00:07:26.730 align:start position:0% traffic cannot be linked between incoming<00:07:23.110> and<00:07:23.199> outgoing<00:07:24.180> transactions<00:07:25.740> now 00:07:26.730 --> 00:07:26.740 align:start position:0% incoming and outgoing transactions now 00:07:26.740 --> 00:07:29.070 align:start position:0% incoming and outgoing transactions now we<00:07:27.519> use<00:07:27.639> only<00:07:27.819> encryption<00:07:28.389> so<00:07:28.569> basically<00:07:28.930> we 00:07:29.070 --> 00:07:29.080 align:start position:0% we use only encryption so basically we 00:07:29.080 --> 00:07:30.839 align:start position:0% we use only encryption so basically we don't<00:07:29.229> just<00:07:29.469> do<00:07:29.589> that<00:07:29.740> once<00:07:30.099> but<00:07:30.459> you<00:07:30.580> did<00:07:30.729> it 00:07:30.839 --> 00:07:30.849 align:start position:0% don't just do that once but you did it 00:07:30.849 --> 00:07:34.049 align:start position:0% don't just do that once but you did it in<00:07:31.029> multiple<00:07:31.539> times<00:07:31.809> so<00:07:32.759> basically<00:07:33.759> if<00:07:33.939> you 00:07:34.049 --> 00:07:34.059 align:start position:0% in multiple times so basically if you 00:07:34.059 --> 00:07:35.699 align:start position:0% in multiple times so basically if you pass<00:07:34.300> that<00:07:34.479> message<00:07:34.659> through<00:07:35.319> a<00:07:35.349> chain<00:07:35.680> of 00:07:35.699 --> 00:07:35.709 align:start position:0% pass that message through a chain of 00:07:35.709 --> 00:07:38.999 align:start position:0% pass that message through a chain of three<00:07:36.129> layers<00:07:36.279> and<00:07:36.699> that<00:07:37.659> each<00:07:37.990> chain<00:07:38.409> one<00:07:38.740> one 00:07:38.999 --> 00:07:39.009 align:start position:0% three layers and that each chain one one 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position:0% establish beyond guessing why would they do<00:07:47.499> that<00:07:47.620> well<00:07:48.279> this<00:07:48.669> is<00:07:48.849> this<00:07:49.059> is<00:07:49.240> an 00:07:49.350 --> 00:07:49.360 align:start position:0% do that well this is this is an 00:07:49.360 --> 00:07:51.149 align:start position:0% do that well this is this is an important<00:07:49.719> point<00:07:49.870> to<00:07:49.990> me<00:07:50.229> and<00:07:50.259> one<00:07:50.860> that<00:07:50.949> makes 00:07:51.149 --> 00:07:51.159 align:start position:0% important point to me and one that makes 00:07:51.159 --> 00:07:53.009 align:start position:0% important point to me and one that makes the<00:07:51.370> whole<00:07:51.519> design<00:07:51.759> of<00:07:51.969> this<00:07:52.119> network<00:07:52.749> a<00:07:52.899> lot 00:07:53.009 --> 00:07:53.019 align:start position:0% the whole design of this network a lot 00:07:53.019 --> 00:07:55.320 align:start position:0% the whole design of this network a lot hotter<00:07:53.289> is<00:07:53.649> because<00:07:54.339> they<00:07:54.519> earn<00:07:54.669> money<00:07:54.909> for<00:07:55.209> it 00:07:55.320 --> 00:07:55.330 align:start position:0% hotter is because they earn money for it 00:07:55.330 --> 00:08:01.909 align:start position:0% hotter is because they earn money for it who<00:07:55.689> here<00:07:55.930> is<00:07:55.959> running<00:07:56.259> a<00:07:56.619> tor<00:07:57.610> node<00:07:58.830> one<00:07:59.830> two 00:08:01.909 --> 00:08:01.919 align:start position:0% who here is running a tor node one two 00:08:01.919 --> 00:08:04.709 align:start position:0% who here is running a tor node one two two<00:08:02.919> and<00:08:02.949> a<00:08:03.099> half<00:08:03.249> so<00:08:03.610> we<00:08:03.759> have<00:08:03.849> to<00:08:03.969> the<00:08:04.149> hub<00:08:04.300> on 00:08:04.709 --> 00:08:04.719 align:start position:0% two and a half so we have to the hub on 00:08:04.719 --> 00:08:06.389 align:start position:0% two and a half so we have to the hub on earth<00:08:04.930> is<00:08:05.289> two<00:08:05.439> and<00:08:05.529> a<00:08:05.589> half<00:08:05.680> how<00:08:05.860> many<00:08:06.009> exit 00:08:06.389 --> 00:08:06.399 align:start position:0% earth is two and a half how many exit 00:08:06.399 --> 00:08:12.679 align:start position:0% earth is two and a half how many exit nodes<00:08:06.580> we<00:08:06.789> have<00:08:06.819> in<00:08:07.029> the<00:08:07.089> room<00:08:08.369> okay<00:08:09.869> why<00:08:10.869> does 00:08:12.679 --> 00:08:12.689 align:start position:0% nodes we have in the room okay why does 00:08:12.689 --> 00:08:17.219 align:start position:0% nodes we have in the room okay why does that<00:08:13.689> mean<00:08:13.930> sweets<00:08:14.789> okay<00:08:15.789> yeah<00:08:16.269> so<00:08:16.599> I<00:08:16.839> mean<00:08:17.139> the 00:08:17.219 --> 00:08:17.229 align:start position:0% that mean sweets okay yeah so I mean the 00:08:17.229 --> 00:08:19.439 align:start position:0% that mean sweets okay yeah so I mean the question<00:08:17.529> is<00:08:17.589> why<00:08:17.830> would<00:08:18.099> you<00:08:18.369> write<00:08:18.729> you<00:08:19.419> have 00:08:19.439 --> 00:08:19.449 align:start position:0% question is why would you write you have 00:08:19.449 --> 00:08:21.150 align:start position:0% question is why would you write you have something<00:08:20.050> that<00:08:20.199> comes<00:08:20.529> at<00:08:20.769> quite 00:08:21.150 --> 00:08:21.160 align:start position:0% something that comes at quite 00:08:21.160 --> 00:08:23.190 align:start position:0% something that comes at quite nonzero<00:08:21.640> across<00:08:21.970> especially<00:08:22.210> quite<00:08:22.840> not<00:08:23.050> as 00:08:23.190 --> 00:08:23.200 align:start position:0% nonzero across especially quite not as 00:08:23.200 --> 00:08:25.830 align:start position:0% nonzero across especially quite not as their<00:08:23.290> legal<00:08:23.560> cost<00:08:24.000> so<00:08:25.000> why<00:08:25.210> would<00:08:25.420> you<00:08:25.450> do<00:08:25.660> it 00:08:25.830 --> 00:08:25.840 align:start position:0% their legal cost so why would you do it 00:08:25.840 --> 00:08:28.290 align:start position:0% their legal cost so why would you do it right<00:08:26.290> so<00:08:26.650> any<00:08:26.950> any<00:08:27.370> system<00:08:27.820> that<00:08:27.940> runs<00:08:28.090> at 00:08:28.290 --> 00:08:28.300 align:start position:0% right so any any system that runs at 00:08:28.300 --> 00:08:30.090 align:start position:0% right so any any system that runs at scale<00:08:28.570> needs<00:08:28.840> incentives<00:08:29.410> and<00:08:29.590> I<00:08:29.680> think<00:08:29.920> we've 00:08:30.090 --> 00:08:30.100 align:start position:0% scale needs incentives and I think we've 00:08:30.100 --> 00:08:33.659 align:start position:0% scale needs incentives and I think we've seen<00:08:30.240> all<00:08:31.240> this<00:08:31.420> well<00:08:32.289> just<00:08:32.800> kind<00:08:33.160> of<00:08:33.310> works 00:08:33.659 --> 00:08:33.669 align:start position:0% seen all this well just kind of works 00:08:33.669 --> 00:08:36.029 align:start position:0% seen all this well just kind of works but<00:08:33.970> still<00:08:34.240> not<00:08:34.360> very<00:08:34.419> works<00:08:35.200> really<00:08:35.440> well<00:08:35.710> for 00:08:36.029 --> 00:08:36.039 align:start position:0% but still not very works really well for 00:08:36.039 --> 00:08:37.589 align:start position:0% but still not very works really well for you<00:08:36.130> theory<00:08:36.370> or<00:08:36.550> any<00:08:36.820> sort<00:08:37.120> of<00:08:37.150> blockchain 00:08:37.589 --> 00:08:37.599 align:start position:0% you theory or any sort of blockchain 00:08:37.599 --> 00:08:39.060 align:start position:0% you theory or any sort of blockchain systems<00:08:37.990> where<00:08:38.229> nodes<00:08:38.500> don't<00:08:38.919> have 00:08:39.060 --> 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distinct format which I will<00:08:54.490> go<00:08:54.640> into<00:08:54.820> in<00:08:55.060> a<00:08:55.120> second<00:08:55.480> a<00:08:55.510> bit<00:08:55.630> more 00:08:55.830 --> 00:08:55.840 align:start position:0% will go into in a second a bit more 00:08:55.840 --> 00:08:58.110 align:start position:0% will go into in a second a bit more detail<00:08:56.260> and<00:08:56.560> of<00:08:57.070> course<00:08:57.340> we<00:08:57.490> built<00:08:57.730> this<00:08:57.880> on 00:08:58.110 --> 00:08:58.120 align:start position:0% detail and of course we built this on 00:08:58.120 --> 00:09:01.370 align:start position:0% detail and of course we built this on the<00:08:58.240> p2p<00:08:59.130> every<00:09:00.130> javascript<00:09:00.580> imputation 00:09:01.370 --> 00:09:01.380 align:start position:0% the p2p every javascript imputation 00:09:01.380 --> 00:09:04.350 align:start position:0% the p2p every javascript imputation belcher<00:09:02.380> layer<00:09:02.590> and<00:09:03.190> we<00:09:03.640> have<00:09:03.910> payment 00:09:04.350 --> 00:09:04.360 align:start position:0% belcher layer and we have payment 00:09:04.360 --> 00:09:06.600 align:start position:0% belcher layer and we have payment channels<00:09:04.750> who<00:09:05.560> will<00:09:05.680> also<00:09:05.860> discuss<00:09:06.370> a<00:09:06.400> little 00:09:06.600 --> 00:09:06.610 align:start position:0% channels who will also discuss a little 00:09:06.610 --> 00:09:10.110 align:start position:0% channels who will also discuss a little bit<00:09:06.850> later<00:09:07.060> in<00:09:07.360> detail<00:09:08.070> with<00:09:09.070> a<00:09:09.100> POC<00:09:09.610> I'm<00:09:09.910> going 00:09:10.110 --> 00:09:10.120 align:start position:0% bit later in detail with a POC I'm going 00:09:10.120 --> 00:09:13.740 align:start position:0% bit later in detail with a POC I'm going to<00:09:10.240> be<00:09:10.360> right<00:09:10.540> now<00:09:11.310> so<00:09:12.310> briefly<00:09:13.120> on<00:09:13.510> a<00:09:13.540> message 00:09:13.740 --> 00:09:13.750 align:start position:0% to be right now so briefly on a message 00:09:13.750 --> 00:09:16.200 align:start position:0% to be right now so briefly on a message there<00:09:14.140> what's<00:09:15.070> going<00:09:15.340> on<00:09:15.520> so<00:09:15.820> Alice<00:09:16.120> is 00:09:16.200 --> 00:09:16.210 align:start position:0% there what's going on so Alice is 00:09:16.210 --> 00:09:18.480 align:start position:0% there what's going on so Alice is sending<00:09:16.570> a<00:09:16.660> message<00:09:16.960> to<00:09:16.990> make<00:09:17.350> Dave<00:09:17.680> via<00:09:18.130> two 00:09:18.480 --> 00:09:18.490 align:start position:0% sending a message to make Dave via two 00:09:18.490 --> 00:09:20.970 align:start position:0% sending a message to make Dave via two hypothetical<00:09:19.270> readers<00:09:19.690> they're<00:09:20.320> friends<00:09:20.740> Bob 00:09:20.970 --> 00:09:20.980 align:start position:0% hypothetical readers they're friends Bob 00:09:20.980 --> 00:09:24.000 align:start position:0% hypothetical readers they're friends Bob and<00:09:21.250> Charlie<00:09:21.600> so<00:09:22.600> Alice<00:09:23.260> is<00:09:23.290> formatting<00:09:23.920> a 00:09:24.000 --> 00:09:24.010 align:start position:0% and Charlie so Alice is formatting a 00:09:24.010 --> 00:09:26.040 align:start position:0% and Charlie so Alice is formatting a message<00:09:24.400> which<00:09:24.700> has<00:09:24.910> a<00:09:24.970> header<00:09:25.240> which 00:09:26.040 --> 00:09:26.050 align:start position:0% message which has a header which 00:09:26.050 --> 00:09:28.200 align:start position:0% message which has a header which comprises<00:09:26.470> two<00:09:26.800> components<00:09:27.580> what<00:09:27.730> is<00:09:27.850> routing 00:09:28.200 --> 00:09:28.210 align:start position:0% comprises two components what is routing 00:09:28.210 --> 00:09:30.120 align:start position:0% comprises two components what is routing information<00:09:28.480> and<00:09:29.020> a<00:09:29.170> second<00:09:29.440> one<00:09:29.590> is<00:09:29.710> payment 00:09:30.120 --> 00:09:30.130 align:start position:0% information and a second one is payment 00:09:30.130 --> 00:09:31.800 align:start position:0% information and a second one is payment information<00:09:30.580> right<00:09:31.330> and<00:09:31.570> then<00:09:31.690> of<00:09:31.780> course 00:09:31.800 --> 00:09:31.810 align:start position:0% information right and then of course 00:09:31.810 --> 00:09:33.750 align:start position:0% information right and then of course there's<00:09:32.200> the<00:09:32.320> body<00:09:32.500> which<00:09:33.130> contains<00:09:33.520> the 00:09:33.750 --> 00:09:33.760 align:start position:0% there's the body which contains the 00:09:33.760 --> 00:09:36.660 align:start position:0% there's the body which contains the onion<00:09:34.330> encrypted<00:09:34.810> message<00:09:35.170> so<00:09:36.130> what<00:09:36.340> she<00:09:36.520> does 00:09:36.660 --> 00:09:36.670 align:start position:0% onion encrypted message so what she does 00:09:36.670 --> 00:09:40.170 align:start position:0% onion encrypted message so what she does is<00:09:37.000> she<00:09:37.450> basically<00:09:38.460> she<00:09:39.460> defines<00:09:39.790> the<00:09:40.000> root 00:09:40.170 --> 00:09:40.180 align:start position:0% is she basically she defines the root 00:09:40.180 --> 00:09:42.780 align:start position:0% is she basically she defines the root source<00:09:40.750> for<00:09:41.020> religion<00:09:41.410> and<00:09:42.100> she<00:09:42.610> then 00:09:42.780 --> 00:09:42.790 align:start position:0% source for religion and she then 00:09:42.790 --> 00:09:46.260 align:start position:0% source for religion and she then assembles<00:09:43.690> he<00:09:43.960> had<00:09:44.140> her<00:09:44.320> and<00:09:44.770> sensit<00:09:45.550> to<00:09:45.910> Bob 00:09:46.260 --> 00:09:46.270 align:start position:0% assembles he had her and sensit to Bob 00:09:46.270 --> 00:09:48.930 align:start position:0% assembles he had her and sensit to Bob now<00:09:46.630> what<00:09:47.410> mom<00:09:47.560> can<00:09:47.770> see<00:09:47.980> in<00:09:48.040> the<00:09:48.190> header<00:09:48.430> is<00:09:48.730> so 00:09:48.930 --> 00:09:48.940 align:start position:0% now what mom can see in the header is so 00:09:48.940 --> 00:09:52.410 align:start position:0% now what mom can see in the header is so far<00:09:49.270> only<00:09:49.920> that<00:09:50.920> charlie<00:09:51.790> is<00:09:51.820> the<00:09:52.150> next 00:09:52.410 --> 00:09:52.420 align:start position:0% far only that charlie is the next 00:09:52.420 --> 00:09:55.740 align:start position:0% far only that charlie is the next downstream<00:09:53.050> downstream<00:09:53.860> node<00:09:54.210> but<00:09:55.210> what<00:09:55.570> what 00:09:55.740 --> 00:09:55.750 align:start position:0% downstream downstream node but what what 00:09:55.750 --> 00:09:57.630 align:start position:0% downstream downstream node but what what does<00:09:55.960> not<00:09:56.200> is<00:09:56.470> not<00:09:56.500> able<00:09:56.890> to<00:09:57.040> do<00:09:57.250> it<00:09:57.370> is<00:09:57.490> not 00:09:57.630 --> 00:09:57.640 align:start position:0% does not is not able to do it is not 00:09:57.640 --> 00:09:59.790 align:start position:0% does not is not able to do it is not able<00:09:57.940> to<00:09:58.330> extract<00:09:58.720> a<00:09:58.870> payment<00:09:59.230> just<00:09:59.470> and 00:09:59.790 --> 00:09:59.800 align:start position:0% able to extract a payment just and 00:09:59.800 --> 00:10:02.580 align:start position:0% able to extract a payment just and because<00:10:00.550> that<00:10:00.730> would<00:10:00.880> allow<00:10:01.150> us<00:10:01.180> to<00:10:01.720> to<00:10:01.990> be 00:10:02.580 --> 00:10:02.590 align:start position:0% because that would allow us to to be 00:10:02.590 --> 00:10:04.290 align:start position:0% because that would allow us to to be susceptible<00:10:02.950> to<00:10:03.280> kind<00:10:03.730> of<00:10:03.760> take<00:10:04.090> the<00:10:04.180> money 00:10:04.290 --> 00:10:04.300 align:start position:0% susceptible to kind of take the money 00:10:04.300 --> 00:10:05.460 align:start position:0% susceptible to kind of take the money and<00:10:04.450> run<00:10:04.510> attacks<00:10:04.720> right<00:10:05.140> so 00:10:05.460 --> 00:10:05.470 align:start position:0% and run attacks right so 00:10:05.470 --> 00:10:07.080 align:start position:0% and run attacks right so we<00:10:05.560> just<00:10:05.890> take<00:10:06.190> all<00:10:06.340> the<00:10:06.400> money<00:10:06.490> out<00:10:06.610> and<00:10:06.970> not 00:10:07.080 --> 00:10:07.090 align:start position:0% we just take all the money out and not 00:10:07.090 --> 00:10:09.920 align:start position:0% we just take all the money out and not do<00:10:07.210> anything<00:10:07.560> so<00:10:08.560> what<00:10:08.800> actually<00:10:09.100> needs<00:10:09.340> the 00:10:09.920 --> 00:10:09.930 align:start position:0% do anything so what actually needs the 00:10:09.930 --> 00:10:12.000 align:start position:0% do anything so what actually needs the collaboration<00:10:10.930> of<00:10:11.110> Charlie 00:10:12.000 --> 00:10:12.010 align:start position:0% collaboration of Charlie 00:10:12.010 --> 00:10:17.910 align:start position:0% collaboration of Charlie so<00:10:12.370> once<00:10:12.940> Charlie<00:10:13.450> helps<00:10:14.320> Bob<00:10:15.660> will<00:10:16.660> receive<00:10:17.440> a 00:10:17.910 --> 00:10:17.920 align:start position:0% so once Charlie helps Bob will receive a 00:10:17.920 --> 00:10:20.520 align:start position:0% so once Charlie helps Bob will receive a key<00:10:18.640> hub<00:10:18.850> with<00:10:19.180> which<00:10:19.360> he<00:10:19.480> can<00:10:19.660> unbind<00:10:20.110> the 00:10:20.520 --> 00:10:20.530 align:start position:0% key hub with which he can unbind the 00:10:20.530 --> 00:10:22.860 align:start position:0% key hub with which he can unbind the payment<00:10:21.190> channel<00:10:21.490> and<00:10:22.180> of<00:10:22.270> course<00:10:22.330> it<00:10:22.720> could 00:10:22.860 --> 00:10:22.870 align:start position:0% payment channel and of course it could 00:10:22.870 --> 00:10:25.530 align:start position:0% payment channel and of course it could be<00:10:22.930> that<00:10:23.430> Charlie<00:10:24.430> is<00:10:24.580> just<00:10:24.820> not<00:10:24.970> very<00:10:25.090> nice<00:10:25.300> to 00:10:25.530 --> 00:10:25.540 align:start position:0% be that Charlie is just not very nice to 00:10:25.540 --> 00:10:27.570 align:start position:0% be that Charlie is just not very nice to Bob<00:10:25.750> and<00:10:25.990> simply<00:10:26.230> doesn't<00:10:26.410> do<00:10:26.620> that<00:10:26.830> but<00:10:27.430> then 00:10:27.570 --> 00:10:27.580 align:start position:0% Bob and simply doesn't do that but then 00:10:27.580 --> 00:10:29.910 align:start position:0% Bob and simply doesn't do that but then Bob<00:10:27.910> basically<00:10:28.660> in<00:10:28.780> the<00:10:28.870> future<00:10:29.170> deny<00:10:29.530> any 00:10:29.910 --> 00:10:29.920 align:start position:0% Bob basically in the future deny any 00:10:29.920 --> 00:10:33.450 align:start position:0% Bob basically in the future deny any traffic<00:10:30.190> to<00:10:30.370> Charlie<00:10:30.910> so<00:10:31.770> that's<00:10:32.770> that's<00:10:33.250> of 00:10:33.450 --> 00:10:33.460 align:start position:0% traffic to Charlie so that's that's of 00:10:33.460 --> 00:10:34.890 align:start position:0% traffic to Charlie so that's that's of course<00:10:33.640> something<00:10:33.760> I<00:10:34.420> mean<00:10:34.540> it's<00:10:34.690> kind<00:10:34.870> of 00:10:34.890 --> 00:10:34.900 align:start position:0% course something I mean it's kind of 00:10:34.900 --> 00:10:36.390 align:start position:0% course something I mean it's kind of this<00:10:35.050> it<00:10:35.380> goes<00:10:35.590> in<00:10:35.740> the<00:10:35.830> direction<00:10:35.860> of<00:10:36.280> the 00:10:36.390 --> 00:10:36.400 align:start position:0% this it goes in the direction of the 00:10:36.400 --> 00:10:38.610 align:start position:0% this it goes in the direction of the verifiers<00:10:36.820> dilemma<00:10:37.360> but<00:10:37.930> we<00:10:38.080> basically<00:10:38.350> see 00:10:38.610 --> 00:10:38.620 align:start position:0% verifiers dilemma but we basically see 00:10:38.620 --> 00:10:41.490 align:start position:0% verifiers dilemma but we basically see with<00:10:39.220> incentives<00:10:39.610> you<00:10:40.240> can<00:10:40.540> you<00:10:41.080> can<00:10:41.230> improve 00:10:41.490 --> 00:10:41.500 align:start position:0% with incentives you can you can improve 00:10:41.500 --> 00:10:44.010 align:start position:0% with incentives you can you can improve that<00:10:41.710> because<00:10:42.580> charlie<00:10:43.240> simply<00:10:43.600> won't<00:10:43.750> get 00:10:44.010 --> 00:10:44.020 align:start position:0% that because charlie simply won't get 00:10:44.020 --> 00:10:46.560 align:start position:0% that because charlie simply won't get any<00:10:44.230> payment<00:10:44.650> for<00:10:44.710> succeeding<00:10:45.570> transaction 00:10:46.560 --> 00:10:46.570 align:start position:0% any payment for succeeding transaction 00:10:46.570 --> 00:10:50.880 align:start position:0% any payment for succeeding transaction that<00:10:47.170> she<00:10:47.440> denies<00:10:47.770> Bob<00:10:48.360> so<00:10:49.360> it<00:10:50.350> continues<00:10:50.860> to 00:10:50.880 --> 00:10:50.890 align:start position:0% that she denies Bob so it continues to 00:10:50.890 --> 00:10:52.590 align:start position:0% that she denies Bob so it continues to the<00:10:51.040> same<00:10:51.280> fashion<00:10:51.490> charlie<00:10:52.150> takes<00:10:52.360> the 00:10:52.590 --> 00:10:52.600 align:start position:0% the same fashion charlie takes the 00:10:52.600 --> 00:10:55.470 align:start position:0% the same fashion charlie takes the packet<00:10:52.990> with<00:10:53.800> the<00:10:53.830> help<00:10:54.130> of<00:10:54.280> Dave<00:10:54.550> she<00:10:55.270> will 00:10:55.470 --> 00:10:55.480 align:start position:0% packet with the help of Dave she will 00:10:55.480 --> 00:10:58.860 align:start position:0% packet with the help of Dave she will then<00:10:55.770> get<00:10:56.770> her<00:10:56.980> payment<00:10:57.340> valves<00:10:57.730> and<00:10:57.880> with 00:10:58.860 --> 00:10:58.870 align:start position:0% then get her payment valves and with 00:10:58.870 --> 00:11:00.630 align:start position:0% then get her payment valves and with that<00:10:59.110> we<00:10:59.500> basically<00:10:59.860> have<00:11:00.280> a<00:11:00.310> cyclic 00:11:00.630 --> 00:11:00.640 align:start position:0% that we basically have a cyclic 00:11:00.640 --> 00:11:04.320 align:start position:0% that we basically have a cyclic operators<00:11:01.290> so<00:11:02.290> this<00:11:02.620> is<00:11:02.830> in<00:11:03.160> simple<00:11:03.790> terms<00:11:04.030> of 00:11:04.320 --> 00:11:04.330 align:start position:0% operators so this is in simple terms of 00:11:04.330 --> 00:11:06.330 align:start position:0% operators so this is in simple terms of our<00:11:04.480> message<00:11:04.900> to<00:11:05.050> the<00:11:05.170> air<00:11:05.260> works<00:11:05.620> like<00:11:05.920> now 00:11:06.330 --> 00:11:06.340 align:start position:0% our message to the air works like now 00:11:06.340 --> 00:11:09.660 align:start position:0% our message to the air works like now let's<00:11:06.520> look<00:11:06.760> at<00:11:07.000> the<00:11:07.420> Univ<00:11:07.900> there<00:11:08.160> so<00:11:09.160> on<00:11:09.610> a 00:11:09.660 --> 00:11:09.670 align:start position:0% let's look at the Univ there so on a 00:11:09.670 --> 00:11:12.960 align:start position:0% let's look at the Univ there so on a payment<00:11:10.210> there<00:11:10.390> what<00:11:10.780> we<00:11:10.930> see<00:11:11.170> is<00:11:11.500> that<00:11:11.670> we<00:11:12.670> see 00:11:12.960 --> 00:11:12.970 align:start position:0% payment there what we see is that we see 00:11:12.970 --> 00:11:15.270 align:start position:0% payment there what we see is that we see these<00:11:13.150> kind<00:11:13.450> of<00:11:13.680> encrypted<00:11:14.680> payments<00:11:15.100> going 00:11:15.270 --> 00:11:15.280 align:start position:0% these kind of encrypted payments going 00:11:15.280 --> 00:11:18.210 align:start position:0% these kind of encrypted payments going around<00:11:15.610> and<00:11:15.970> we<00:11:16.420> have<00:11:16.720> to<00:11:17.200> key<00:11:17.440> half<00:11:17.710> so<00:11:17.950> it's<00:11:18.160> a 00:11:18.210 --> 00:11:18.220 align:start position:0% around and we have to key half so it's a 00:11:18.220 --> 00:11:19.920 align:start position:0% around and we have to key half so it's a secret<00:11:18.580> sharing<00:11:18.940> mechanism<00:11:19.450> which<00:11:19.600> we<00:11:19.780> have 00:11:19.920 --> 00:11:19.930 align:start position:0% secret sharing mechanism which we have 00:11:19.930 --> 00:11:24.300 align:start position:0% secret sharing mechanism which we have in<00:11:20.050> place<00:11:20.230> there<00:11:20.940> and<00:11:21.940> Bob<00:11:22.750> can<00:11:23.230> to<00:11:23.470> obtain<00:11:24.100> his 00:11:24.300 --> 00:11:24.310 align:start position:0% in place there and Bob can to obtain his 00:11:24.310 --> 00:11:26.490 align:start position:0% in place there and Bob can to obtain his payment<00:11:24.850> Bob<00:11:25.330> can<00:11:25.630> derive<00:11:25.870> the<00:11:26.050> first<00:11:26.320> key 00:11:26.490 --> 00:11:26.500 align:start position:0% payment Bob can derive the first key 00:11:26.500 --> 00:11:27.900 align:start position:0% payment Bob can derive the first key half<00:11:26.710> and<00:11:26.920> second<00:11:27.310> one<00:11:27.430> who<00:11:27.610> needs 00:11:27.900 --> 00:11:27.910 align:start position:0% half and second one who needs 00:11:27.910 --> 00:11:30.990 align:start position:0% half and second one who needs Charlie's<00:11:28.330> help<00:11:28.600> form<00:11:28.930> and<00:11:29.830> was<00:11:30.100> that<00:11:30.310> he<00:11:30.700> can 00:11:30.990 --> 00:11:31.000 align:start position:0% Charlie's help form and was that he can 00:11:31.000 --> 00:11:35.040 align:start position:0% Charlie's help form and was that he can get<00:11:31.660> his<00:11:31.810> payment<00:11:32.320> and<00:11:32.970> Charlie<00:11:33.970> gets<00:11:34.210> his<00:11:34.870> her 00:11:35.040 --> 00:11:35.050 align:start position:0% get his payment and Charlie gets his her 00:11:35.050 --> 00:11:38.610 align:start position:0% get his payment and Charlie gets his her payment<00:11:35.440> and<00:11:36.690> now<00:11:37.690> if<00:11:38.020> we<00:11:38.080> look<00:11:38.560> at 00:11:38.610 --> 00:11:38.620 align:start position:0% payment and now if we look at 00:11:38.620 --> 00:11:41.350 align:start position:0% payment and now if we look at traditional<00:11:39.100> payment<00:11:39.700> journal 00:11:41.350 --> 00:11:41.360 align:start position:0% traditional payment journal 00:11:41.360 --> 00:11:43.269 align:start position:0% traditional payment journal Communications<00:11:42.049> we<00:11:42.470> see<00:11:42.709> a<00:11:42.739> couple<00:11:43.040> of 00:11:43.269 --> 00:11:43.279 align:start position:0% Communications we see a couple of 00:11:43.279 --> 00:11:45.189 align:start position:0% Communications we see a couple of limitations<00:11:43.459> here<00:11:44.329> that<00:11:44.569> we<00:11:44.720> are<00:11:44.809> trying<00:11:45.049> to 00:11:45.189 --> 00:11:45.199 align:start position:0% limitations here that we are trying to 00:11:45.199 --> 00:11:47.079 align:start position:0% limitations here that we are trying to improve<00:11:45.319> upon<00:11:45.559> the<00:11:46.339> first<00:11:46.579> one<00:11:46.759> is<00:11:46.910> of<00:11:47.059> course 00:11:47.079 --> 00:11:47.089 align:start position:0% improve upon the first one is of course 00:11:47.089 --> 00:11:48.910 align:start position:0% improve upon the first one is of course that<00:11:47.420> we<00:11:47.540> want<00:11:47.689> to<00:11:47.839> have<00:11:47.959> a<00:11:48.019> tight<00:11:48.259> coupling<00:11:48.559> of 00:11:48.910 --> 00:11:48.920 align:start position:0% that we want to have a tight coupling of 00:11:48.920 --> 00:11:51.249 align:start position:0% that we want to have a tight coupling of the<00:11:48.980> packet<00:11:49.489> and<00:11:49.610> the<00:11:49.730> payment<00:11:50.029> leader<00:11:50.269> and 00:11:51.249 --> 00:11:51.259 align:start position:0% the packet and the payment leader and 00:11:51.259 --> 00:11:53.139 align:start position:0% the packet and the payment leader and the<00:11:51.439> second<00:11:51.769> one<00:11:51.980> is<00:11:52.189> kind<00:11:52.459> of<00:11:52.519> a<00:11:52.639> proof<00:11:52.999> of 00:11:53.139 --> 00:11:53.149 align:start position:0% the second one is kind of a proof of 00:11:53.149 --> 00:11:55.269 align:start position:0% the second one is kind of a proof of relay<00:11:53.569> right<00:11:53.809> so<00:11:53.989> we<00:11:54.110> only<00:11:54.319> want<00:11:54.799> you<00:11:54.949> to<00:11:55.129> be 00:11:55.269 --> 00:11:55.279 align:start position:0% relay right so we only want you to be 00:11:55.279 --> 00:11:57.069 align:start position:0% relay right so we only want you to be able<00:11:55.489> to<00:11:55.699> extract<00:11:56.029> a<00:11:56.149> payment<00:11:56.509> if<00:11:56.720> the<00:11:56.839> next 00:11:57.069 --> 00:11:57.079 align:start position:0% able to extract a payment if the next 00:11:57.079 --> 00:12:00.309 align:start position:0% able to extract a payment if the next downstream<00:11:57.589> node<00:11:57.910> has<00:11:58.910> actually<00:11:59.569> come<00:11:59.779> sent 00:12:00.309 --> 00:12:00.319 align:start position:0% downstream node has actually come sent 00:12:00.319 --> 00:12:01.329 align:start position:0% downstream node has actually come sent your<00:12:00.439> confirmation 00:12:01.329 --> 00:12:01.339 align:start position:0% your confirmation 00:12:01.339 --> 00:12:04.239 align:start position:0% your confirmation what<00:12:01.999> we<00:12:02.149> also<00:12:02.329> want<00:12:02.540> is<00:12:02.959> we<00:12:03.319> want<00:12:03.350> you<00:12:03.769> I<00:12:03.920> mean 00:12:04.239 --> 00:12:04.249 align:start position:0% what we also want is we want you I mean 00:12:04.249 --> 00:12:06.939 align:start position:0% what we also want is we want you I mean in<00:12:04.399> a<00:12:04.489> realistic<00:12:04.759> scenario<00:12:05.389> there<00:12:05.989> is<00:12:06.019> packet 00:12:06.939 --> 00:12:06.949 align:start position:0% in a realistic scenario there is packet 00:12:06.949 --> 00:12:09.189 align:start position:0% in a realistic scenario there is packet loss<00:12:07.129> right<00:12:07.369> things<00:12:08.179> don't<00:12:08.449> always<00:12:08.600> know<00:12:08.959> well 00:12:09.189 --> 00:12:09.199 align:start position:0% loss right things don't always know well 00:12:09.199 --> 00:12:12.999 align:start position:0% loss right things don't always know well so<00:12:10.160> we<00:12:10.279> need<00:12:10.489> to<00:12:10.670> be<00:12:10.790> able<00:12:10.999> to<00:12:11.559> have<00:12:12.559> partial 00:12:12.999 --> 00:12:13.009 align:start position:0% so we need to be able to have partial 00:12:13.009 --> 00:12:14.499 align:start position:0% so we need to be able to have partial payouts<00:12:13.369> and<00:12:13.699> with<00:12:13.879> traditional<00:12:14.299> payment 00:12:14.499 --> 00:12:14.509 align:start position:0% payouts and with traditional payment 00:12:14.509 --> 00:12:17.530 align:start position:0% payouts and with traditional payment channel<00:12:14.869> implementations<00:12:16.119> you<00:12:17.119> see<00:12:17.360> that 00:12:17.530 --> 00:12:17.540 align:start position:0% channel implementations you see that 00:12:17.540 --> 00:12:18.819 align:start position:0% channel implementations you see that payment<00:12:17.959> shells<00:12:18.110> are<00:12:18.319> always<00:12:18.589> set<00:12:18.799> to 00:12:18.819 --> 00:12:18.829 align:start position:0% payment shells are always set to 00:12:18.829 --> 00:12:20.949 align:start position:0% payment shells are always set to absolute<00:12:19.519> values<00:12:19.939> right<00:12:20.179> we<00:12:20.420> don't<00:12:20.600> just<00:12:20.779> have 00:12:20.949 --> 00:12:20.959 align:start position:0% absolute values right we don't just have 00:12:20.959 --> 00:12:23.229 align:start position:0% absolute values right we don't just have Delta<00:12:21.350> mounts<00:12:21.799> we<00:12:22.160> send<00:12:22.670> a<00:12:22.699> payment<00:12:22.879> channel 00:12:23.229 --> 00:12:23.239 align:start position:0% Delta mounts we send a payment channel 00:12:23.239 --> 00:12:26.679 align:start position:0% Delta mounts we send a payment channel to<00:12:23.360> an<00:12:23.449> absolute<00:12:23.959> value<00:12:24.399> so<00:12:25.399> if<00:12:25.970> I<00:12:26.179> sent<00:12:26.509> you<00:12:26.569> a 00:12:26.679 --> 00:12:26.689 align:start position:0% to an absolute value so if I sent you a 00:12:26.689 --> 00:12:29.109 align:start position:0% to an absolute value so if I sent you a transaction<00:12:27.559> or<00:12:27.949> if<00:12:28.309> I<00:12:28.459> send<00:12:28.670> you<00:12:28.699> a<00:12:28.790> million 00:12:29.109 --> 00:12:29.119 align:start position:0% transaction or if I send you a million 00:12:29.119 --> 00:12:30.929 align:start position:0% transaction or if I send you a million transaction<00:12:29.689> and<00:12:30.019> you<00:12:30.139> were<00:12:30.259> only<00:12:30.559> ever 00:12:30.929 --> 00:12:30.939 align:start position:0% transaction and you were only ever 00:12:30.939 --> 00:12:33.069 align:start position:0% transaction and you were only ever successfully<00:12:31.939> relaying<00:12:32.299> the<00:12:32.509> last<00:12:32.749> one<00:12:32.959> of 00:12:33.069 --> 00:12:33.079 align:start position:0% successfully relaying the last one of 00:12:33.079 --> 00:12:34.509 align:start position:0% successfully relaying the last one of them<00:12:33.230> you<00:12:33.709> would<00:12:33.799> still<00:12:34.069> get<00:12:34.160> the<00:12:34.309> full 00:12:34.509 --> 00:12:34.519 align:start position:0% them you would still get the full 00:12:34.519 --> 00:12:35.859 align:start position:0% them you would still get the full payment<00:12:34.759> because<00:12:35.149> it<00:12:35.299> sets<00:12:35.509> it<00:12:35.660> to<00:12:35.749> the 00:12:35.859 --> 00:12:35.869 align:start position:0% payment because it sets it to the 00:12:35.869 --> 00:12:37.710 align:start position:0% payment because it sets it to the absolute<00:12:35.989> value<00:12:36.559> of<00:12:36.619> the<00:12:36.889> last<00:12:37.040> transaction 00:12:37.710 --> 00:12:37.720 align:start position:0% absolute value of the last transaction 00:12:37.720 --> 00:12:40.509 align:start position:0% absolute value of the last transaction so<00:12:38.720> that's<00:12:39.259> one<00:12:39.470> problem<00:12:39.709> and<00:12:40.009> the<00:12:40.100> second<00:12:40.399> one 00:12:40.509 --> 00:12:40.519 align:start position:0% so that's one problem and the second one 00:12:40.519 --> 00:12:42.669 align:start position:0% so that's one problem and the second one is<00:12:40.639> you<00:12:40.790> could<00:12:40.939> say<00:12:41.089> well<00:12:41.389> we<00:12:41.899> kind<00:12:42.230> of<00:12:42.290> unlock 00:12:42.669 --> 00:12:42.679 align:start position:0% is you could say well we kind of unlock 00:12:42.679 --> 00:12:44.799 align:start position:0% is you could say well we kind of unlock a<00:12:42.739> payment<00:12:43.189> on<00:12:43.309> on<00:12:43.579> a<00:12:43.610> packet<00:12:43.970> by<00:12:44.059> packet<00:12:44.089> basis 00:12:44.799 --> 00:12:44.809 align:start position:0% a payment on on a packet by packet basis 00:12:44.809 --> 00:12:47.079 align:start position:0% a payment on on a packet by packet basis but<00:12:45.439> that<00:12:45.589> would<00:12:45.739> be<00:12:45.889> kind<00:12:46.100> of<00:12:46.160> a<00:12:46.279> huge<00:12:46.730> proof 00:12:47.079 --> 00:12:47.089 align:start position:0% but that would be kind of a huge proof 00:12:47.089 --> 00:12:49.059 align:start position:0% but that would be kind of a huge proof size<00:12:47.419> which<00:12:47.749> you<00:12:47.839> would<00:12:47.989> deliver<00:12:48.199> to<00:12:48.350> the 00:12:49.059 --> 00:12:49.069 align:start position:0% size which you would deliver to the 00:12:49.069 --> 00:12:52.509 align:start position:0% size which you would deliver to the blockchain<00:12:50.230> and<00:12:51.230> then<00:12:51.829> what<00:12:52.040> could<00:12:52.189> be<00:12:52.309> said 00:12:52.509 --> 00:12:52.519 align:start position:0% blockchain and then what could be said 00:12:52.519 --> 00:12:53.799 align:start position:0% blockchain and then what could be said is<00:12:52.639> because<00:12:52.939> we've<00:12:53.119> heard<00:12:53.209> quite<00:12:53.449> some<00:12:53.660> of<00:12:53.749> the 00:12:53.799 --> 00:12:53.809 align:start position:0% is because we've heard quite some of the 00:12:53.809 --> 00:12:55.929 align:start position:0% is because we've heard quite some of the things<00:12:53.989> about<00:12:54.110> snarks<00:12:54.649> and<00:12:54.769> stars<00:12:55.069> and<00:12:55.249> fancy 00:12:55.929 --> 00:12:55.939 align:start position:0% things about snarks and stars and fancy 00:12:55.939 --> 00:12:59.139 align:start position:0% things about snarks and stars and fancy crypto<00:12:56.269> stuff<00:12:56.529> so<00:12:57.529> the<00:12:58.249> goal<00:12:58.519> of<00:12:58.549> Harper<00:12:59.029> is 00:12:59.139 --> 00:12:59.149 align:start position:0% crypto stuff so the goal of Harper is 00:12:59.149 --> 00:13:01.569 align:start position:0% crypto stuff so the goal of Harper is that<00:12:59.419> this<00:12:59.540> ideally<00:12:59.929> runs<00:13:00.230> on<00:13:00.379> IOT<00:13:00.799> devices<00:13:01.100> on 00:13:01.569 --> 00:13:01.579 align:start position:0% that this ideally runs on IOT devices on 00:13:01.579 --> 00:13:03.609 align:start position:0% that this ideally runs on IOT devices on really<00:13:01.879> small<00:13:02.209> devices<00:13:02.540> that<00:13:02.959> are<00:13:03.199> somewhere 00:13:03.609 --> 00:13:03.619 align:start position:0% really small devices that are somewhere 00:13:03.619 --> 00:13:05.259 align:start position:0% really small devices that are somewhere out<00:13:03.679> there<00:13:03.829> in<00:13:04.129> the<00:13:04.189> field<00:13:04.489> in<00:13:04.669> which<00:13:04.730> do<00:13:05.089> not 00:13:05.259 --> 00:13:05.269 align:start position:0% out there in the field in which do not 00:13:05.269 --> 00:13:07.900 align:start position:0% out there in the field in which do not have<00:13:05.509> the<00:13:05.629> capabilities<00:13:06.230> of<00:13:06.499> doing<00:13:07.309> really 00:13:07.900 --> 00:13:07.910 align:start position:0% have the capabilities of doing really 00:13:07.910 --> 00:13:10.030 align:start position:0% have the capabilities of doing really complex<00:13:08.449> computations<00:13:09.079> on<00:13:09.259> there<00:13:09.470> that's 00:13:10.030 --> 00:13:10.040 align:start position:0% complex computations on there that's 00:13:10.040 --> 00:13:12.309 align:start position:0% complex computations on there that's what<00:13:10.220> we<00:13:10.309> try<00:13:10.489> to<00:13:10.519> go<00:13:10.790> for<00:13:11.089> relatively<00:13:11.779> simple 00:13:12.309 --> 00:13:12.319 align:start position:0% what we try to go for relatively simple 00:13:12.319 --> 00:13:15.340 align:start position:0% what we try to go for relatively simple protocol<00:13:12.679> here<00:13:12.939> so<00:13:13.939> this<00:13:14.629> is<00:13:14.809> a<00:13:14.839> bit<00:13:15.049> more<00:13:15.199> in 00:13:15.340 --> 00:13:15.350 align:start position:0% protocol here so this is a bit more in 00:13:15.350 --> 00:13:16.809 align:start position:0% protocol here so this is a bit more in detail<00:13:15.499> how<00:13:15.889> there<00:13:16.069> is<00:13:16.129> proof<00:13:16.399> of<00:13:16.489> really 00:13:16.809 --> 00:13:16.819 align:start position:0% detail how there is proof of really 00:13:16.819 --> 00:13:18.369 align:start position:0% detail how there is proof of really works<00:13:17.089> and<00:13:17.299> to<00:13:17.360> understand<00:13:17.779> and<00:13:17.959> I<00:13:18.049> will<00:13:18.199> work 00:13:18.369 --> 00:13:18.379 align:start position:0% works and to understand and I will work 00:13:18.379 --> 00:13:20.919 align:start position:0% works and to understand and I will work you<00:13:18.529> once<00:13:18.769> through<00:13:19.279> a<00:13:19.309> setting<00:13:20.029> of<00:13:20.149> a<00:13:20.720> payment 00:13:20.919 --> 00:13:20.929 align:start position:0% you once through a setting of a payment 00:13:20.929 --> 00:13:23.949 align:start position:0% you once through a setting of a payment channel<00:13:21.379> so<00:13:22.369> our<00:13:22.639> players<00:13:22.910> on<00:13:23.299> the<00:13:23.419> left<00:13:23.600> is<00:13:23.809> of 00:13:23.949 --> 00:13:23.959 align:start position:0% channel so our players on the left is of 00:13:23.959 --> 00:13:25.720 align:start position:0% channel so our players on the left is of course<00:13:24.169> smart<00:13:24.499> contracts<00:13:25.100> or<00:13:25.279> payment 00:13:25.720 --> 00:13:25.730 align:start position:0% course smart contracts or payment 00:13:25.730 --> 00:13:27.999 align:start position:0% course smart contracts or payment channel<00:13:25.970> smart<00:13:26.179> contracts<00:13:26.749> it's<00:13:26.959> Alice<00:13:27.829> Bob 00:13:27.999 --> 00:13:28.009 align:start position:0% channel smart contracts it's Alice Bob 00:13:28.009 --> 00:13:30.129 align:start position:0% channel smart contracts it's Alice Bob and<00:13:28.189> Charlie<00:13:28.339> and<00:13:28.790> this<00:13:29.269> interaction<00:13:29.569> here<00:13:29.989> is 00:13:30.129 --> 00:13:30.139 align:start position:0% and Charlie and this interaction here is 00:13:30.139 --> 00:13:30.789 align:start position:0% and Charlie and this interaction here is Bob 00:13:30.789 --> 00:13:30.799 align:start position:0% Bob 00:13:30.799 --> 00:13:33.540 align:start position:0% Bob closing<00:13:31.610> is<00:13:32.230> his 00:13:33.540 --> 00:13:33.550 align:start position:0% closing is his 00:13:33.550 --> 00:13:36.750 align:start position:0% closing is his and<00:13:33.640> channel<00:13:34.350> so<00:13:35.350> basically<00:13:36.040> getting<00:13:36.280> his 00:13:36.750 --> 00:13:36.760 align:start position:0% and channel so basically getting his 00:13:36.760 --> 00:13:38.670 align:start position:0% and channel so basically getting his money<00:13:37.000> out<00:13:37.270> that<00:13:37.540> he<00:13:37.690> got<00:13:37.900> one<00:13:38.260> way<00:13:38.440> or<00:13:38.650> another 00:13:38.670 --> 00:13:38.680 align:start position:0% money out that he got one way or another 00:13:38.680 --> 00:13:42.420 align:start position:0% money out that he got one way or another for<00:13:39.220> madness<00:13:39.610> so<00:13:40.480> first<00:13:40.750> of<00:13:40.900> all<00:13:41.050> a<00:13:41.380> the<00:13:42.160> smart 00:13:42.420 --> 00:13:42.430 align:start position:0% for madness so first of all a the smart 00:13:42.430 --> 00:13:44.940 align:start position:0% for madness so first of all a the smart contract<00:13:42.670> is<00:13:43.270> validating<00:13:43.900> a<00:13:44.110> signature<00:13:44.500> or<00:13:44.830> a 00:13:44.940 --> 00:13:44.950 align:start position:0% contract is validating a signature or a 00:13:44.950 --> 00:13:47.850 align:start position:0% contract is validating a signature or a curve<00:13:45.190> point<00:13:45.520> that<00:13:46.060> one<00:13:46.930> gets<00:13:47.170> from<00:13:47.230> analysis 00:13:47.850 --> 00:13:47.860 align:start position:0% curve point that one gets from analysis 00:13:47.860 --> 00:13:51.450 align:start position:0% curve point that one gets from analysis Estonia<00:13:48.790> and<00:13:49.780> this<00:13:50.350> my<00:13:50.530> contract<00:13:51.040> is<00:13:51.250> then 00:13:51.450 --> 00:13:51.460 align:start position:0% Estonia and this my contract is then 00:13:51.460 --> 00:13:54.450 align:start position:0% Estonia and this my contract is then also<00:13:51.880> validating<00:13:52.540> a<00:13:52.810> free<00:13:53.710> image<00:13:54.010> of<00:13:54.310> this 00:13:54.450 --> 00:13:54.460 align:start position:0% also validating a free image of this 00:13:54.460 --> 00:13:57.120 align:start position:0% also validating a free image of this point<00:13:54.700> so<00:13:54.940> basically<00:13:54.970> we<00:13:55.570> have<00:13:55.840> this<00:13:56.100> we<00:13:57.100> have 00:13:57.120 --> 00:13:57.130 align:start position:0% point so basically we have this we have 00:13:57.130 --> 00:13:59.510 align:start position:0% point so basically we have this we have this<00:13:57.280> probably<00:13:57.910> known<00:13:58.090> perform<00:13:58.690> kind<00:13:58.990> of<00:13:59.050> a 00:13:59.510 --> 00:13:59.520 align:start position:0% this probably known perform kind of a 00:13:59.520 --> 00:14:01.380 align:start position:0% this probably known perform kind of a pretty<00:14:00.520> image<00:14:00.610> tiers<00:14:01.090> of<00:14:01.300> this 00:14:01.380 --> 00:14:01.390 align:start position:0% pretty image tiers of this 00:14:01.390 --> 00:14:03.300 align:start position:0% pretty image tiers of this multiplication<00:14:01.840> is<00:14:02.320> an<00:14:02.530> elliptic<00:14:03.100> curve 00:14:03.300 --> 00:14:03.310 align:start position:0% multiplication is an elliptic curve 00:14:03.310 --> 00:14:05.910 align:start position:0% multiplication is an elliptic curve operations<00:14:04.150> they<00:14:04.330> cannot<00:14:04.600> easily<00:14:05.140> inverters 00:14:05.910 --> 00:14:05.920 align:start position:0% operations they cannot easily inverters 00:14:05.920 --> 00:14:07.710 align:start position:0% operations they cannot easily inverters and<00:14:06.760> it<00:14:06.850> could<00:14:07.000> also<00:14:07.180> be<00:14:07.420> as<00:14:07.540> I<00:14:07.690> mentioned 00:14:07.710 --> 00:14:07.720 align:start position:0% and it could also be as I mentioned 00:14:07.720 --> 00:14:10.260 align:start position:0% and it could also be as I mentioned before<00:14:08.190> impartial<00:14:09.190> they<00:14:09.820> all<00:14:09.970> should<00:14:10.240> be 00:14:10.260 --> 00:14:10.270 align:start position:0% before impartial they all should be 00:14:10.270 --> 00:14:12.030 align:start position:0% before impartial they all should be possible<00:14:10.780> so<00:14:10.960> it<00:14:11.050> could<00:14:11.230> be<00:14:11.410> that<00:14:11.710> some 00:14:12.030 --> 00:14:12.040 align:start position:0% possible so it could be that some 00:14:12.040 --> 00:14:14.910 align:start position:0% possible so it could be that some secrets<00:14:12.280> will<00:14:12.790> not<00:14:12.970> be<00:14:13.180> but<00:14:13.630> Bob<00:14:14.440> will<00:14:14.470> not<00:14:14.770> be 00:14:14.910 --> 00:14:14.920 align:start position:0% secrets will not be but Bob will not be 00:14:14.920 --> 00:14:17.220 align:start position:0% secrets will not be but Bob will not be able<00:14:15.070> to<00:14:15.250> derive<00:14:15.670> all<00:14:15.940> three<00:14:16.150> images<00:14:16.360> so 00:14:17.220 --> 00:14:17.230 align:start position:0% able to derive all three images so 00:14:17.230 --> 00:14:19.620 align:start position:0% able to derive all three images so there's<00:14:17.410> some<00:14:17.620> parts<00:14:18.100> of<00:14:18.280> that<00:14:18.450> which<00:14:19.450> is 00:14:19.620 --> 00:14:19.630 align:start position:0% there's some parts of that which is 00:14:19.630 --> 00:14:23.490 align:start position:0% there's some parts of that which is which<00:14:19.990> is<00:14:20.020> which<00:14:20.980> is<00:14:21.040> failed<00:14:21.930> now<00:14:22.930> basically 00:14:23.490 --> 00:14:23.500 align:start position:0% which is which is failed now basically 00:14:23.500 --> 00:14:25.080 align:start position:0% which is which is failed now basically we<00:14:23.920> need<00:14:24.070> to<00:14:24.100> walk<00:14:24.340> through<00:14:24.580> where<00:14:24.730> did<00:14:24.850> we<00:14:24.940> get 00:14:25.080 --> 00:14:25.090 align:start position:0% we need to walk through where did we get 00:14:25.090 --> 00:14:26.730 align:start position:0% we need to walk through where did we get all<00:14:25.300> these<00:14:25.390> values<00:14:25.780> from<00:14:25.930> what<00:14:26.260> do<00:14:26.380> they<00:14:26.530> mean 00:14:26.730 --> 00:14:26.740 align:start position:0% all these values from what do they mean 00:14:26.740 --> 00:14:29.730 align:start position:0% all these values from what do they mean right<00:14:27.070> so<00:14:27.880> Alice<00:14:28.240> sends<00:14:28.540> kind<00:14:28.900> of<00:14:28.960> an<00:14:29.080> updated 00:14:29.730 --> 00:14:29.740 align:start position:0% right so Alice sends kind of an updated 00:14:29.740 --> 00:14:31.710 align:start position:0% right so Alice sends kind of an updated curve<00:14:30.010> point<00:14:30.340> with<00:14:30.520> every<00:14:30.850> single<00:14:31.180> packet<00:14:31.540> and 00:14:31.710 --> 00:14:31.720 align:start position:0% curve point with every single packet and 00:14:31.720 --> 00:14:35.700 align:start position:0% curve point with every single packet and she<00:14:31.930> signs<00:14:32.230> it<00:14:32.440> this<00:14:33.220> is<00:14:33.400> an<00:14:33.520> analogy<00:14:33.940> to<00:14:34.710> to 00:14:35.700 --> 00:14:35.710 align:start position:0% she signs it this is an analogy to to 00:14:35.710 --> 00:14:39.210 align:start position:0% she signs it this is an analogy to to the<00:14:35.830> updated<00:14:36.310> values<00:14:36.760> of<00:14:38.220> traditional 00:14:39.210 --> 00:14:39.220 align:start position:0% the updated values of traditional 00:14:39.220 --> 00:14:41.910 align:start position:0% the updated values of traditional payment<00:14:39.580> channel<00:14:39.820> implementations<00:14:40.860> okay<00:14:41.860> so 00:14:41.910 --> 00:14:41.920 align:start position:0% payment channel implementations okay so 00:14:41.920 --> 00:14:44.250 align:start position:0% payment channel implementations okay so we<00:14:42.160> have<00:14:42.280> the<00:14:42.400> s<00:14:42.580> total<00:14:43.030> from<00:14:43.810> the<00:14:43.900> difference 00:14:44.250 --> 00:14:44.260 align:start position:0% we have the s total from the difference 00:14:44.260 --> 00:14:46.620 align:start position:0% we have the s total from the difference between<00:14:44.650> two<00:14:44.860> succeeding<00:14:45.460> as<00:14:45.850> totals<00:14:46.390> we 00:14:46.620 --> 00:14:46.630 align:start position:0% between two succeeding as totals we 00:14:46.630 --> 00:14:48.390 align:start position:0% between two succeeding as totals we enough<00:14:46.930> have<00:14:47.110> the<00:14:47.290> Delta<00:14:47.470> s<00:14:47.800> from<00:14:48.070> which<00:14:48.220> we 00:14:48.390 --> 00:14:48.400 align:start position:0% enough have the Delta s from which we 00:14:48.400 --> 00:14:50.580 align:start position:0% enough have the Delta s from which we could<00:14:48.610> also<00:14:48.640> assemble<00:14:49.510> the<00:14:49.690> s<00:14:49.930> failure<00:14:50.320> if 00:14:50.580 --> 00:14:50.590 align:start position:0% could also assemble the s failure if 00:14:50.590 --> 00:14:52.380 align:start position:0% could also assemble the s failure if something<00:14:50.950> goes<00:14:51.070> wrong<00:14:51.190> I<00:14:51.580> got<00:14:52.060> a<00:14:52.090> package 00:14:52.380 --> 00:14:52.390 align:start position:0% something goes wrong I got a package 00:14:52.390 --> 00:14:56.040 align:start position:0% something goes wrong I got a package from<00:14:52.630> Alice<00:14:52.990> but<00:14:53.560> I<00:14:53.590> can't<00:14:54.120> pass<00:14:55.120> it<00:14:55.390> on<00:14:55.660> to 00:14:56.040 --> 00:14:56.050 align:start position:0% from Alice but I can't pass it on to 00:14:56.050 --> 00:14:59.430 align:start position:0% from Alice but I can't pass it on to Charlie<00:14:56.680> so<00:14:57.070> I<00:14:57.400> basically<00:14:57.910> add<00:14:58.390> that<00:14:58.690> to<00:14:58.960> my<00:14:58.990> to 00:14:59.430 --> 00:14:59.440 align:start position:0% Charlie so I basically add that to my to 00:14:59.440 --> 00:15:03.780 align:start position:0% Charlie so I basically add that to my to my<00:14:59.560> guess<00:14:59.740> fail<00:15:01.440> now<00:15:02.440> for<00:15:02.800> the<00:15:02.950> for<00:15:03.340> the<00:15:03.400> parts 00:15:03.780 --> 00:15:03.790 align:start position:0% my guess fail now for the for the parts 00:15:03.790 --> 00:15:06.210 align:start position:0% my guess fail now for the for the parts where<00:15:04.030> things<00:15:04.630> did<00:15:04.870> go<00:15:05.080> wrong<00:15:05.380> and<00:15:05.770> they<00:15:06.040> go 00:15:06.210 --> 00:15:06.220 align:start position:0% where things did go wrong and they go 00:15:06.220 --> 00:15:08.280 align:start position:0% where things did go wrong and they go right<00:15:06.490> so<00:15:07.060> for<00:15:07.300> successfully<00:15:07.960> reading 00:15:08.280 --> 00:15:08.290 align:start position:0% right so for successfully reading 00:15:08.290 --> 00:15:12.210 align:start position:0% right so for successfully reading packets<00:15:08.800> Bob<00:15:09.250> can<00:15:09.550> derive<00:15:10.260> the<00:15:11.260> first<00:15:11.590> half<00:15:12.070> in 00:15:12.210 --> 00:15:12.220 align:start position:0% packets Bob can derive the first half in 00:15:12.220 --> 00:15:14.210 align:start position:0% packets Bob can derive the first half in the<00:15:12.280> second<00:15:12.610> Kiev<00:15:12.970> which<00:15:13.270> means<00:15:13.630> the 00:15:14.210 --> 00:15:14.220 align:start position:0% the second Kiev which means the 00:15:14.220 --> 00:15:15.800 align:start position:0% the second Kiev which means the operation<00:15:14.610> from<00:15:14.820> downstream<00:15:15.240> known<00:15:15.450> so<00:15:15.690> the 00:15:15.800 --> 00:15:15.810 align:start position:0% operation from downstream known so the 00:15:15.810 --> 00:15:19.130 align:start position:0% operation from downstream known so the first<00:15:16.020> key<00:15:16.380> half<00:15:16.620> begins<00:15:17.490> himself<00:15:18.140> where's 00:15:19.130 --> 00:15:19.140 align:start position:0% first key half begins himself where's 00:15:19.140 --> 00:15:21.770 align:start position:0% first key half begins himself where's the<00:15:19.320> second<00:15:19.740> key<00:15:19.920> half<00:15:20.190> gets<00:15:21.090> delivered<00:15:21.420> from 00:15:21.770 --> 00:15:21.780 align:start position:0% the second key half gets delivered from 00:15:21.780 --> 00:15:23.480 align:start position:0% the second key half gets delivered from the<00:15:21.900> next<00:15:22.140> downstream<00:15:22.620> note<00:15:22.830> alright<00:15:23.310> so 00:15:23.480 --> 00:15:23.490 align:start position:0% the next downstream note alright so 00:15:23.490 --> 00:15:25.850 align:start position:0% the next downstream note alright so basically<00:15:23.610> just<00:15:23.910> sum<00:15:24.480> them<00:15:24.630> all<00:15:24.780> up<00:15:24.960> and<00:15:25.230> then 00:15:25.850 --> 00:15:25.860 align:start position:0% basically just sum them all up and then 00:15:25.860 --> 00:15:29.900 align:start position:0% basically just sum them all up and then gives<00:15:26.190> you<00:15:26.400> the<00:15:26.520> preimage<00:15:27.200> of<00:15:28.200> the<00:15:28.910> social 00:15:29.900 --> 00:15:29.910 align:start position:0% gives you the preimage of the social 00:15:29.910 --> 00:15:31.610 align:start position:0% gives you the preimage of the social circle<00:15:30.030> like<00:15:30.480> you<00:15:30.690> could<00:15:30.840> say<00:15:30.960> the<00:15:31.110> secret 00:15:31.610 --> 00:15:31.620 align:start position:0% circle like you could say the secret 00:15:31.620 --> 00:15:34.180 align:start position:0% circle like you could say the secret would<00:15:32.190> you<00:15:32.340> deliver<00:15:32.640> to<00:15:32.910> the<00:15:33.030> smart<00:15:33.330> contract 00:15:34.180 --> 00:15:34.190 align:start position:0% would you deliver to the smart contract 00:15:34.190 --> 00:15:38.570 align:start position:0% would you deliver to the smart contract for<00:15:35.190> four<00:15:35.730> payout<00:15:36.120> right<00:15:36.780> so<00:15:37.530> because<00:15:38.250> this 00:15:38.570 --> 00:15:38.580 align:start position:0% for four payout right so because this 00:15:38.580 --> 00:15:40.910 align:start position:0% for four payout right so because this one<00:15:38.790> here<00:15:39.090> still<00:15:39.210> gets<00:15:39.690> gets<00:15:40.020> multiplied<00:15:40.500> it's 00:15:40.910 --> 00:15:40.920 align:start position:0% one here still gets gets multiplied it's 00:15:40.920 --> 00:15:42.860 align:start position:0% one here still gets gets multiplied it's basically<00:15:41.280> a<00:15:41.400> secret<00:15:41.910> that<00:15:42.090> was<00:15:42.360> known<00:15:42.630> by 00:15:42.860 --> 00:15:42.870 align:start position:0% basically a secret that was known by 00:15:42.870 --> 00:15:45.500 align:start position:0% basically a secret that was known by Ellis<00:15:43.170> gets<00:15:44.040> gets<00:15:44.520> transmitted<00:15:45.180> in<00:15:45.420> a 00:15:45.500 --> 00:15:45.510 align:start position:0% Ellis gets gets transmitted in a 00:15:45.510 --> 00:15:47.870 align:start position:0% Ellis gets gets transmitted in a different<00:15:45.840> form<00:15:46.050> over<00:15:46.260> the<00:15:46.290> wire<00:15:46.560> and<00:15:47.040> then 00:15:47.870 --> 00:15:47.880 align:start position:0% different form over the wire and then 00:15:47.880 --> 00:15:50.060 align:start position:0% different form over the wire and then can<00:15:48.150> be<00:15:48.270> used<00:15:48.300> by<00:15:48.660> you<00:15:48.720> and<00:15:49.020> only<00:15:49.140> you<00:15:49.350> in<00:15:49.800> order 00:15:50.060 --> 00:15:50.070 align:start position:0% can be used by you and only you in order 00:15:50.070 --> 00:15:52.280 align:start position:0% can be used by you and only you in order to<00:15:50.220> unlock<00:15:50.370> your<00:15:50.730> payment<00:15:51.210> so<00:15:51.990> this<00:15:52.140> is 00:15:52.280 --> 00:15:52.290 align:start position:0% to unlock your payment so this is 00:15:52.290 --> 00:15:57.190 align:start position:0% to unlock your payment so this is basically<00:15:52.770> how<00:15:53.190> we<00:15:53.640> achieve<00:15:54.510> a<00:15:55.370> payout 00:15:57.190 --> 00:15:57.200 align:start position:0% basically how we achieve a payout 00:15:57.200 --> 00:16:00.860 align:start position:0% basically how we achieve a payout conditional<00:15:58.200> to<00:15:58.770> the<00:15:59.220> to<00:16:00.090> the<00:16:00.210> delivery<00:16:00.510> of<00:16:00.660> a 00:16:00.860 --> 00:16:00.870 align:start position:0% conditional to the to the delivery of a 00:16:00.870 --> 00:16:03.650 align:start position:0% conditional to the to the delivery of a packet<00:16:01.400> evidenced<00:16:02.400> by<00:16:02.610> having<00:16:03.030> a<00:16:03.240> key<00:16:03.450> half 00:16:03.650 --> 00:16:03.660 align:start position:0% packet evidenced by having a key half 00:16:03.660 --> 00:16:05.960 align:start position:0% packet evidenced by having a key half from<00:16:03.900> a<00:16:03.990> downstream<00:16:04.380> note<00:16:04.590> and<00:16:05.580> having<00:16:05.880> an 00:16:05.960 --> 00:16:05.970 align:start position:0% from a downstream note and having an 00:16:05.970 --> 00:16:08.410 align:start position:0% from a downstream note and having an efficient<00:16:06.420> settlement<00:16:07.020> that<00:16:07.290> is<00:16:07.350> basically 00:16:08.410 --> 00:16:08.420 align:start position:0% efficient settlement that is basically 00:16:08.420 --> 00:16:12.310 align:start position:0% efficient settlement that is basically yeah<00:16:09.420> that<00:16:10.080> is<00:16:10.200> basically<00:16:10.620> constant<00:16:11.010> in 00:16:12.310 --> 00:16:12.320 align:start position:0% yeah that is basically constant in 00:16:12.320 --> 00:16:15.620 align:start position:0% yeah that is basically constant in effort<00:16:13.320> and<00:16:13.530> data<00:16:13.710> overhead<00:16:14.430> so<00:16:15.000> you<00:16:15.090> can<00:16:15.330> sell 00:16:15.620 --> 00:16:15.630 align:start position:0% effort and data overhead so you can sell 00:16:15.630 --> 00:16:22.310 align:start position:0% effort and data overhead so you can sell that<00:16:15.930> on<00:16:16.200> in<00:16:16.320> theory<00:16:16.590> em<00:16:16.800> today<00:16:18.710> cool<00:16:19.710> and<00:16:21.320> yeah 00:16:22.310 --> 00:16:22.320 align:start position:0% that on in theory em today cool and yeah 00:16:22.320 --> 00:16:24.710 align:start position:0% that on in theory em today cool and yeah with<00:16:22.860> that<00:16:23.340> I<00:16:23.400> think<00:16:23.670> we're<00:16:23.940> running<00:16:24.090> out<00:16:24.690> of 00:16:24.710 --> 00:16:24.720 align:start position:0% with that I think we're running out of 00:16:24.720 --> 00:16:28.460 align:start position:0% with that I think we're running out of time<00:16:24.810> my<00:16:25.380> connection<00:16:25.920> is<00:16:25.980> pretty<00:16:26.400> poor<00:16:26.700> so<00:16:27.600> I 00:16:28.460 --> 00:16:28.470 align:start position:0% time my connection is pretty poor so I 00:16:28.470 --> 00:16:31.580 align:start position:0% time my connection is pretty poor so I let<00:16:29.100> you<00:16:29.340> I<00:16:29.730> need<00:16:30.060> to<00:16:30.090> check<00:16:30.360> out<00:16:30.510> ours<00:16:30.780> now 00:16:31.580 --> 00:16:31.590 align:start position:0% let you I need to check out ours now 00:16:31.590 --> 00:16:35.930 align:start position:0% let you I need to check out ours now okay<00:16:32.400> I<00:16:32.430> expected<00:16:32.910> that<00:16:33.030> and<00:16:34.580> sorry<00:16:35.580> for<00:16:35.700> them 00:16:35.930 --> 00:16:35.940 align:start position:0% okay I expected that and sorry for them 00:16:35.940 --> 00:16:37.730 align:start position:0% okay I expected that and sorry for them so<00:16:36.240> we<00:16:36.390> have<00:16:36.570> that<00:16:36.810> we<00:16:37.140> have<00:16:37.170> a<00:16:37.290> smart<00:16:37.590> contract 00:16:37.730 --> 00:16:37.740 align:start position:0% so we have that we have a smart contract 00:16:37.740 --> 00:16:39.910 align:start position:0% so we have that we have a smart contract on<00:16:38.100> here<00:16:38.340> you<00:16:38.490> see<00:16:38.640> some<00:16:38.850> transactions<00:16:39.420> of 00:16:39.910 --> 00:16:39.920 align:start position:0% on here you see some transactions of 00:16:39.920 --> 00:16:42.350 align:start position:0% on here you see some transactions of opening<00:16:40.920> and<00:16:41.040> closing<00:16:41.070> payment<00:16:41.820> shells<00:16:42.000> and 00:16:42.350 --> 00:16:42.360 align:start position:0% opening and closing payment shells and 00:16:42.360 --> 00:16:44.420 align:start position:0% opening and closing payment shells and receiving<00:16:42.810> a<00:16:42.900> payout<00:16:43.140> maybe<00:16:43.950> you<00:16:44.130> have<00:16:44.250> better 00:16:44.420 --> 00:16:44.430 align:start position:0% receiving a payout maybe you have better 00:16:44.430 --> 00:16:46.700 align:start position:0% receiving a payout maybe you have better connections<00:16:44.790> than<00:16:45.660> I<00:16:45.780> do<00:16:45.840> so<00:16:46.020> you<00:16:46.320> can<00:16:46.500> check 00:16:46.700 --> 00:16:46.710 align:start position:0% connections than I do so you can check 00:16:46.710 --> 00:16:50.320 align:start position:0% connections than I do so you can check it<00:16:46.860> out<00:16:47.040> and<00:16:47.990> with<00:16:48.990> them<00:16:49.170> open<00:16:49.740> for<00:16:49.770> questions 00:16:50.320 --> 00:16:50.330 align:start position:0% it out and with them open for questions 00:16:50.330 --> 00:17:00.329 align:start position:0% it out and with them open for questions thank<00:16:51.330> you<00:16:51.390> very<00:16:51.510> much 00:17:00.329 --> 00:17:00.339 align:start position:0% 00:17:00.339 --> 00:17:06.699 align:start position:0% so<00:17:01.339> does<00:17:02.059> the<00:17:03.010> sentiment<00:17:04.010> of<00:17:04.279> the<00:17:04.899> payment<00:17:05.899> not 00:17:06.699 --> 00:17:06.709 align:start position:0% so does the sentiment of the payment not 00:17:06.709 --> 00:17:13.360 align:start position:0% so does the sentiment of the payment not kind<00:17:07.639> of<00:17:09.309> like<00:17:10.539> engineers<00:17:11.539> like<00:17:11.899> Leake<00:17:12.740> who 00:17:13.360 --> 00:17:13.370 align:start position:0% kind of like engineers like Leake who 00:17:13.370 --> 00:17:18.129 align:start position:0% kind of like engineers like Leake who sent<00:17:13.669> want<00:17:14.059> to<00:17:14.389> go<00:17:16.329> yeah<00:17:17.329> that's<00:17:17.659> all<00:17:17.809> person 00:17:18.129 --> 00:17:18.139 align:start position:0% sent want to go yeah that's all person 00:17:18.139 --> 00:17:20.199 align:start position:0% sent want to go yeah that's all person good<00:17:18.260> question<00:17:18.620> right<00:17:18.769> and<00:17:19.130> yes<00:17:19.579> of<00:17:19.850> course<00:17:20.089> it 00:17:20.199 --> 00:17:20.209 align:start position:0% good question right and yes of course it 00:17:20.209 --> 00:17:23.559 align:start position:0% good question right and yes of course it does<00:17:20.240> make<00:17:20.539> something<00:17:20.959> but<00:17:21.909> it<00:17:22.909> leads<00:17:23.209> kind<00:17:23.480> of 00:17:23.559 --> 00:17:23.569 align:start position:0% does make something but it leads kind of 00:17:23.569 --> 00:17:25.120 align:start position:0% does make something but it leads kind of minimal<00:17:23.959> information<00:17:24.230> about<00:17:24.679> what<00:17:24.889> payment 00:17:25.120 --> 00:17:25.130 align:start position:0% minimal information about what payment 00:17:25.130 --> 00:17:27.370 align:start position:0% minimal information about what payment channels<00:17:25.579> you<00:17:25.730> have<00:17:25.789> and<00:17:26.779> kind<00:17:26.990> of<00:17:27.049> what<00:17:27.260> you 00:17:27.370 --> 00:17:27.380 align:start position:0% channels you have and kind of what you 00:17:27.380 --> 00:17:29.139 align:start position:0% channels you have and kind of what you used<00:17:27.589> involved<00:17:28.100> so<00:17:28.309> you<00:17:28.399> would<00:17:28.610> if<00:17:28.820> you<00:17:29.000> would 00:17:29.139 --> 00:17:29.149 align:start position:0% used involved so you would if you would 00:17:29.149 --> 00:17:30.610 align:start position:0% used involved so you would if you would do<00:17:29.269> something<00:17:29.480> super<00:17:29.779> stupid<00:17:30.260> like<00:17:30.409> you<00:17:30.500> would 00:17:30.610 --> 00:17:30.620 align:start position:0% do something super stupid like you would 00:17:30.620 --> 00:17:32.230 align:start position:0% do something super stupid like you would settle<00:17:30.799> on<00:17:30.919> a<00:17:30.980> packet<00:17:31.279> by<00:17:31.370> packet<00:17:31.399> basis<00:17:32.029> which 00:17:32.230 --> 00:17:32.240 align:start position:0% settle on a packet by packet basis which 00:17:32.240 --> 00:17:34.029 align:start position:0% settle on a packet by packet basis which is<00:17:32.269> not<00:17:32.510> even<00:17:32.720> economical<00:17:33.230> then<00:17:33.740> yeah<00:17:33.860> that 00:17:34.029 --> 00:17:34.039 align:start position:0% is not even economical then yeah that 00:17:34.039 --> 00:17:36.430 align:start position:0% is not even economical then yeah that would<00:17:34.190> be<00:17:34.220> pretty<00:17:34.399> bad<00:17:34.730> but<00:17:35.480> what<00:17:35.870> I<00:17:35.899> imagine 00:17:36.430 --> 00:17:36.440 align:start position:0% would be pretty bad but what I imagine 00:17:36.440 --> 00:17:37.899 align:start position:0% would be pretty bad but what I imagine Moore<00:17:36.679> said<00:17:36.950> you<00:17:37.100> would<00:17:37.250> do<00:17:37.370> it<00:17:37.490> on<00:17:37.639> a<00:17:37.700> monthly 00:17:37.899 --> 00:17:37.909 align:start position:0% Moore said you would do it on a monthly 00:17:37.909 --> 00:17:41.080 align:start position:0% Moore said you would do it on a monthly or<00:17:38.120> quarterly<00:17:38.330> basis<00:17:39.039> so<00:17:40.039> you<00:17:40.399> would<00:17:40.639> then<00:17:40.789> say 00:17:41.080 --> 00:17:41.090 align:start position:0% or quarterly basis so you would then say 00:17:41.090 --> 00:17:42.879 align:start position:0% or quarterly basis so you would then say okay<00:17:41.389> every<00:17:41.690> month<00:17:41.899> I<00:17:42.169> want<00:17:42.320> to<00:17:42.470> take<00:17:42.620> my<00:17:42.769> money 00:17:42.879 --> 00:17:42.889 align:start position:0% okay every month I want to take my money 00:17:42.889 --> 00:17:46.120 align:start position:0% okay every month I want to take my money out<00:17:43.010> and<00:17:43.960> basically<00:17:44.960> what<00:17:45.260> we<00:17:45.409> would<00:17:45.620> see<00:17:45.830> is 00:17:46.120 --> 00:17:46.130 align:start position:0% out and basically what we would see is 00:17:46.130 --> 00:17:50.080 align:start position:0% out and basically what we would see is that<00:17:46.460> you<00:17:46.730> got<00:17:46.970> X<00:17:47.899> out<00:17:48.559> of<00:17:48.919> this<00:17:49.100> right<00:17:49.370> so<00:17:49.669> you 00:17:50.080 --> 00:17:50.090 align:start position:0% that you got X out of this right so you 00:17:50.090 --> 00:17:52.240 align:start position:0% that you got X out of this right so you would<00:17:50.240> see<00:17:50.450> here<00:17:50.720> you<00:17:50.840> would<00:17:50.960> get<00:17:51.110> unknown<00:17:51.590> 0.5 00:17:52.240 --> 00:17:52.250 align:start position:0% would see here you would get unknown 0.5 00:17:52.250 --> 00:17:56.409 align:start position:0% would see here you would get unknown 0.5 Eve<00:17:52.519> out<00:17:52.760> of<00:17:52.789> it<00:17:53.919> so<00:17:54.919> yes<00:17:55.580> it<00:17:55.940> leaves<00:17:56.149> some 00:17:56.409 --> 00:17:56.419 align:start position:0% Eve out of it so yes it leaves some 00:17:56.419 --> 00:17:58.210 align:start position:0% Eve out of it so yes it leaves some information<00:17:56.960> but<00:17:57.200> not<00:17:57.559> more<00:17:57.919> than<00:17:58.070> is 00:17:58.210 --> 00:17:58.220 align:start position:0% information but not more than is 00:17:58.220 --> 00:18:01.570 align:start position:0% information but not more than is publicly<00:17:58.760> known<00:17:58.789> anyway<00:17:59.240> and<00:18:00.250> yeah<00:18:01.250> we're 00:18:01.570 --> 00:18:01.580 align:start position:0% publicly known anyway and yeah we're 00:18:01.580 --> 00:18:02.799 align:start position:0% publicly known anyway and yeah we're working<00:18:01.760> on<00:18:01.970> right<00:18:02.149> now<00:18:02.179> is<00:18:02.330> how<00:18:02.600> do<00:18:02.659> we 00:18:02.799 --> 00:18:02.809 align:start position:0% working on right now is how do we 00:18:02.809 --> 00:18:04.930 align:start position:0% working on right now is how do we incentivize<00:18:03.019> people<00:18:03.440> to<00:18:03.649> open<00:18:04.039> as<00:18:04.159> many<00:18:04.309> like 00:18:04.930 --> 00:18:04.940 align:start position:0% incentivize people to open as many like 00:18:04.940 --> 00:18:07.389 align:start position:0% incentivize people to open as many like reasonably<00:18:05.779> many<00:18:06.019> payment<00:18:06.649> channels<00:18:06.919> useful 00:18:07.389 --> 00:18:07.399 align:start position:0% reasonably many payment channels useful 00:18:07.399 --> 00:18:09.100 align:start position:0% reasonably many payment channels useful naman<00:18:07.669> channels<00:18:07.940> to<00:18:08.630> reduce<00:18:08.929> the 00:18:09.100 --> 00:18:09.110 align:start position:0% naman channels to reduce the 00:18:09.110 --> 00:18:16.869 align:start position:0% naman channels to reduce the meaningfulness<00:18:09.590> of<00:18:09.830> this<00:18:10.039> information 00:18:16.869 --> 00:18:16.879 align:start position:0% 00:18:16.879 --> 00:18:19.460 align:start position:0% thank<00:18:17.879> you<00:18:17.970> for<00:18:18.149> the<00:18:18.210> talk<00:18:18.419> and<00:18:19.019> I<00:18:19.320> actually 00:18:19.460 --> 00:18:19.470 align:start position:0% thank you for the talk and I actually 00:18:19.470 --> 00:18:21.169 align:start position:0% thank you for the talk and I actually have<00:18:19.769> a<00:18:19.799> bunch<00:18:20.009> of<00:18:20.070> questions<00:18:20.190> so<00:18:20.820> first<00:18:20.999> one 00:18:21.169 --> 00:18:21.179 align:start position:0% have a bunch of questions so first one 00:18:21.179 --> 00:18:24.009 align:start position:0% have a bunch of questions so first one said<00:18:21.480> I<00:18:21.659> know<00:18:21.720> the<00:18:22.409> mixed<00:18:22.649> networks<00:18:22.980> actually 00:18:24.009 --> 00:18:24.019 align:start position:0% said I know the mixed networks actually 00:18:24.019 --> 00:18:27.049 align:start position:0% said I know the mixed networks actually suffer<00:18:25.019> from<00:18:25.109> high<00:18:25.440> latency<00:18:25.769> so<00:18:26.070> how<00:18:26.249> is<00:18:26.879> the 00:18:27.049 --> 00:18:27.059 align:start position:0% suffer from high latency so how is the 00:18:27.059 --> 00:18:29.149 align:start position:0% suffer from high latency so how is the openness<00:18:27.539> of<00:18:27.720> the<00:18:27.779> problem<00:18:28.169> and<00:18:28.559> second<00:18:29.039> one 00:18:29.149 --> 00:18:29.159 align:start position:0% openness of the problem and second one 00:18:29.159 --> 00:18:31.759 align:start position:0% openness of the problem and second one is<00:18:29.190> the<00:18:29.720> recently<00:18:30.720> I<00:18:30.749> noted<00:18:31.109> protocol<00:18:31.590> seed 00:18:31.759 --> 00:18:31.769 align:start position:0% is the recently I noted protocol seed 00:18:31.769 --> 00:18:34.909 align:start position:0% is the recently I noted protocol seed mix<00:18:31.950> it's<00:18:32.340> a<00:18:32.519> juicing<00:18:32.879> machine<00:18:33.869> as<00:18:34.109> well<00:18:34.289> so<00:18:34.889> I 00:18:34.909 --> 00:18:34.919 align:start position:0% mix it's a juicing machine as well so I 00:18:34.919 --> 00:18:37.279 align:start position:0% mix it's a juicing machine as well so I wondered<00:18:35.609> if<00:18:35.730> you<00:18:35.909> guys<00:18:35.940> had<00:18:36.659> a<00:18:36.690> study<00:18:36.989> on<00:18:37.049> that 00:18:37.279 --> 00:18:37.289 align:start position:0% wondered if you guys had a study on that 00:18:37.289 --> 00:18:38.659 align:start position:0% wondered if you guys had a study on that and<00:18:37.499> what<00:18:37.679> subpoena<00:18:37.980> that<00:18:38.070> poverty<00:18:38.549> of 00:18:38.659 --> 00:18:38.669 align:start position:0% and what subpoena that poverty of 00:18:38.669 --> 00:18:42.919 align:start position:0% and what subpoena that poverty of computer<00:18:38.999> dismal<00:18:39.690> and<00:18:40.609> nm<00:18:41.609> is<00:18:41.820> a<00:18:41.909> proposal<00:18:42.389> on 00:18:42.919 --> 00:18:42.929 align:start position:0% computer dismal and nm is a proposal on 00:18:42.929 --> 00:18:45.080 align:start position:0% computer dismal and nm is a proposal on appearance<00:18:43.529> is<00:18:43.769> to<00:18:43.980> use<00:18:44.190> Jungian<00:18:44.549> routing<00:18:44.879> to 00:18:45.080 --> 00:18:45.090 align:start position:0% appearance is to use Jungian routing to 00:18:45.090 --> 00:18:47.539 align:start position:0% appearance is to use Jungian routing to to<00:18:45.929> prevent<00:18:46.529> from<00:18:46.799> sensor<00:18:47.129> in<00:18:47.249> front<00:18:47.399> of<00:18:47.460> oh 00:18:47.539 --> 00:18:47.549 align:start position:0% to prevent from sensor in front of oh 00:18:47.549 --> 00:18:47.960 align:start position:0% to prevent from sensor in front of oh don't 00:18:47.960 --> 00:18:47.970 align:start position:0% don't 00:18:47.970 --> 00:18:50.210 align:start position:0% don't so<00:18:48.480> is<00:18:49.049> there<00:18:49.230> any<00:18:49.379> a<00:18:49.409> possible<00:18:49.799> that<00:18:49.950> you<00:18:50.070> can 00:18:50.210 --> 00:18:50.220 align:start position:0% so is there any a possible that you can 00:18:50.220 --> 00:18:52.940 align:start position:0% so is there any a possible that you can use<00:18:50.609> an<00:18:50.759> offer<00:18:50.879> protocol<00:18:51.330> to<00:18:51.480> cheder<00:18:52.409> us<00:18:52.619> deal 00:18:52.940 --> 00:18:52.950 align:start position:0% use an offer protocol to cheder us deal 00:18:52.950 --> 00:18:54.979 align:start position:0% use an offer protocol to cheder us deal with<00:18:53.129> the<00:18:53.190> problem<00:18:53.519> and<00:18:54.059> also<00:18:54.269> Pina<00:18:54.629> no<00:18:54.690> thank 00:18:54.979 --> 00:18:54.989 align:start position:0% with the problem and also Pina no thank 00:18:54.989 --> 00:18:55.869 align:start position:0% with the problem and also Pina no thank you 00:18:55.869 --> 00:18:55.879 align:start position:0% you 00:18:55.879 --> 00:18:58.430 align:start position:0% you cool<00:18:56.879> let<00:18:57.029> me<00:18:57.119> try<00:18:57.330> to<00:18:57.389> remember<00:18:57.600> all<00:18:57.840> these<00:18:58.109> so 00:18:58.430 --> 00:18:58.440 align:start position:0% cool let me try to remember all these so 00:18:58.440 --> 00:19:02.419 align:start position:0% cool let me try to remember all these so yes<00:18:59.629> basically<00:19:00.629> this<00:19:00.899> sort<00:19:01.230> of<00:19:01.409> this<00:19:01.830> sort<00:19:01.889> of 00:19:02.419 --> 00:19:02.429 align:start position:0% yes basically this sort of this sort of 00:19:02.429 --> 00:19:05.060 align:start position:0% yes basically this sort of this sort of peer-to-peer<00:19:03.529> communication<00:19:04.529> is<00:19:04.679> certainly 00:19:05.060 --> 00:19:05.070 align:start position:0% peer-to-peer communication is certainly 00:19:05.070 --> 00:19:06.710 align:start position:0% peer-to-peer communication is certainly slower<00:19:05.460> than<00:19:05.700> direct<00:19:06.059> communication<00:19:06.539> that's 00:19:06.710 --> 00:19:06.720 align:start position:0% slower than direct communication that's 00:19:06.720 --> 00:19:09.409 align:start position:0% slower than direct communication that's clear<00:19:06.989> the<00:19:07.649> question<00:19:07.980> is<00:19:08.070> how<00:19:08.369> bad<00:19:08.609> right<00:19:09.149> and 00:19:09.409 --> 00:19:09.419 align:start position:0% clear the question is how bad right and 00:19:09.419 --> 00:19:11.090 align:start position:0% clear the question is how bad right and the<00:19:09.840> question<00:19:10.109> was<00:19:10.200> the<00:19:10.320> comment<00:19:10.619> we<00:19:10.830> want<00:19:11.009> to 00:19:11.090 --> 00:19:11.100 align:start position:0% the question was the comment we want to 00:19:11.100 --> 00:19:13.340 align:start position:0% the question was the comment we want to keep<00:19:11.600> customizable<00:19:12.600> by<00:19:12.809> the<00:19:12.869> application 00:19:13.340 --> 00:19:13.350 align:start position:0% keep customizable by the application 00:19:13.350 --> 00:19:17.599 align:start position:0% keep customizable by the application layer<00:19:13.679> so<00:19:14.369> if<00:19:14.700> you<00:19:14.940> build<00:19:15.269> hmm<00:19:16.200> like<00:19:16.980> we<00:19:17.369> check 00:19:17.599 --> 00:19:17.609 align:start position:0% layer so if you build hmm like we check 00:19:17.609 --> 00:19:19.519 align:start position:0% layer so if you build hmm like we check to<00:19:17.759> find<00:19:17.909> out<00:19:18.090> you<00:19:18.450> want<00:19:18.690> some<00:19:18.960> one<00:19:19.139> second 00:19:19.519 --> 00:19:19.529 align:start position:0% to find out you want some one second 00:19:19.529 --> 00:19:22.700 align:start position:0% to find out you want some one second latency<00:19:19.950> you<00:19:20.190> have<00:19:20.609> like<00:19:20.820> okay<00:19:21.509> privacy<00:19:22.080> so 00:19:22.700 --> 00:19:22.710 align:start position:0% latency you have like okay privacy so 00:19:22.710 --> 00:19:24.499 align:start position:0% latency you have like okay privacy so there's<00:19:22.889> this<00:19:23.009> fundamental<00:19:23.249> and<00:19:23.970> trade-off 00:19:24.499 --> 00:19:24.509 align:start position:0% there's this fundamental and trade-off 00:19:24.509 --> 00:19:27.169 align:start position:0% there's this fundamental and trade-off between<00:19:24.659> privacy<00:19:25.200> legacy<00:19:25.799> and<00:19:26.070> if<00:19:26.879> you<00:19:26.999> want 00:19:27.169 --> 00:19:27.179 align:start position:0% between privacy legacy and if you want 00:19:27.179 --> 00:19:30.229 align:start position:0% between privacy legacy and if you want to<00:19:27.239> do<00:19:27.359> kind<00:19:27.600> of<00:19:27.779> like<00:19:28.669> I<00:19:29.669> don't<00:19:29.820> know<00:19:29.879> some 00:19:30.229 --> 00:19:30.239 align:start position:0% to do kind of like I don't know some 00:19:30.239 --> 00:19:33.409 align:start position:0% to do kind of like I don't know some some<00:19:30.739> activist<00:19:31.739> group<00:19:31.980> emails<00:19:32.369> then<00:19:32.820> probably 00:19:33.409 --> 00:19:33.419 align:start position:0% some activist group emails then probably 00:19:33.419 --> 00:19:35.359 align:start position:0% some activist group emails then probably you<00:19:33.539> want<00:19:33.690> hardcore<00:19:34.409> privacy<00:19:34.859> and<00:19:35.129> you<00:19:35.220> need 00:19:35.359 --> 00:19:35.369 align:start position:0% you want hardcore privacy and you need 00:19:35.369 --> 00:19:38.479 align:start position:0% you want hardcore privacy and you need like<00:19:35.549> 30<00:19:36.239> minute<00:19:36.509> latencies<00:19:36.899> so<00:19:37.679> it<00:19:38.039> should<00:19:38.460> be 00:19:38.479 --> 00:19:38.489 align:start position:0% like 30 minute latencies so it should be 00:19:38.489 --> 00:19:41.419 align:start position:0% like 30 minute latencies so it should be possible<00:19:38.730> to<00:19:39.029> define<00:19:39.419> that<00:19:39.769> on<00:19:40.769> application 00:19:41.419 --> 00:19:41.429 align:start position:0% possible to define that on application 00:19:41.429 --> 00:19:44.869 align:start position:0% possible to define that on application layer<00:19:42.590> your<00:19:43.590> second<00:19:44.009> question<00:19:44.129> is<00:19:44.460> ceilings 00:19:44.869 --> 00:19:44.879 align:start position:0% layer your second question is ceilings 00:19:44.879 --> 00:19:46.249 align:start position:0% layer your second question is ceilings and<00:19:45.179> we<00:19:45.359> will<00:19:45.509> need<00:19:45.690> to<00:19:45.809> look<00:19:45.989> in<00:19:46.139> the 00:19:46.249 --> 00:19:46.259 align:start position:0% and we will need to look in the 00:19:46.259 --> 00:19:47.720 align:start position:0% and we will need to look in the implementation<00:19:46.499> details<00:19:46.859> so<00:19:47.220> I<00:19:47.279> guess<00:19:47.489> a<00:19:47.519> lot 00:19:47.720 --> 00:19:47.730 align:start position:0% implementation details so I guess a lot 00:19:47.730 --> 00:19:50.180 align:start position:0% implementation details so I guess a lot of<00:19:47.850> ideas<00:19:48.149> right<00:19:48.419> now<00:19:48.659> out<00:19:49.200> there<00:19:49.470> and<00:19:49.769> not<00:19:49.919> all 00:19:50.180 --> 00:19:50.190 align:start position:0% of ideas right now out there and not all 00:19:50.190 --> 00:19:51.440 align:start position:0% of ideas right now out there and not all are<00:19:50.369> really<00:19:50.489> implemented<00:19:50.999> so<00:19:51.119> it's<00:19:51.269> kind<00:19:51.419> of 00:19:51.440 --> 00:19:51.450 align:start position:0% are really implemented so it's kind of 00:19:51.450 --> 00:19:52.070 align:start position:0% are really implemented so it's kind of hard<00:19:51.659> to<00:19:51.690> tell 00:19:52.070 --> 00:19:52.080 align:start position:0% hard to tell 00:19:52.080 --> 00:19:53.239 align:start position:0% hard to tell this<00:19:52.200> is<00:19:52.350> far<00:19:52.529> away<00:19:52.619> it's<00:19:52.830> all<00:19:52.950> open<00:19:53.100> source 00:19:53.239 --> 00:19:53.249 align:start position:0% this is far away it's all open source 00:19:53.249 --> 00:19:55.279 align:start position:0% this is far away it's all open source and<00:19:53.700> check<00:19:53.879> it<00:19:53.999> out<00:19:54.090> on<00:19:54.210> our<00:19:54.239> github<00:19:54.480> feel<00:19:55.109> free 00:19:55.279 --> 00:19:55.289 align:start position:0% and check it out on our github feel free 00:19:55.289 --> 00:20:00.830 align:start position:0% and check it out on our github feel free and<00:19:55.999> third<00:19:57.830> period<00:19:58.830> idea<00:19:59.340> suppose<00:19:59.789> on<00:20:00.059> is<00:20:00.539> yes 00:20:00.830 --> 00:20:00.840 align:start position:0% and third period idea suppose on is yes 00:20:00.840 --> 00:20:05.169 align:start position:0% and third period idea suppose on is yes so<00:20:01.730> right<00:20:02.730> now<00:20:03.059> there<00:20:03.570> are<00:20:03.690> dozens<00:20:03.869> unlike 00:20:05.169 --> 00:20:05.179 align:start position:0% so right now there are dozens unlike 00:20:05.179 --> 00:20:09.019 align:start position:0% so right now there are dozens unlike Bitcoin<00:20:06.179> etherium<00:20:06.929> does<00:20:07.409> not<00:20:07.859> as<00:20:08.220> important 00:20:09.019 --> 00:20:09.029 align:start position:0% Bitcoin etherium does not as important 00:20:09.029 --> 00:20:11.509 align:start position:0% Bitcoin etherium does not as important in<00:20:09.149> running<00:20:09.419> out<00:20:09.570> of<00:20:09.600> the<00:20:09.779> box<00:20:09.989> and<00:20:10.379> yeah<00:20:11.220> that 00:20:11.509 --> 00:20:11.519 align:start position:0% in running out of the box and yeah that 00:20:11.519 --> 00:20:12.769 align:start position:0% in running out of the box and yeah that was<00:20:11.609> one<00:20:11.789> of<00:20:11.820> the<00:20:11.999> inspirations<00:20:12.090> when<00:20:12.690> we 00:20:12.769 --> 00:20:12.779 align:start position:0% was one of the inspirations when we 00:20:12.779 --> 00:20:13.250 align:start position:0% was one of the inspirations when we started 00:20:13.250 --> 00:20:13.260 align:start position:0% started 00:20:13.260 --> 00:20:16.220 align:start position:0% started first<00:20:13.500> of<00:20:13.620> all<00:20:13.680> absolutely<00:20:14.550> brilliant<00:20:15.150> so<00:20:15.360> so 00:20:16.220 --> 00:20:16.230 align:start position:0% first of all absolutely brilliant so so 00:20:16.230 --> 00:20:18.020 align:start position:0% first of all absolutely brilliant so so do<00:20:16.350> you<00:20:16.410> think<00:20:16.440> that<00:20:16.680> this<00:20:17.010> is<00:20:17.190> going<00:20:17.370> to<00:20:17.490> like 00:20:18.020 --> 00:20:18.030 align:start position:0% do you think that this is going to like 00:20:18.030 --> 00:20:19.460 align:start position:0% do you think that this is going to like enhance<00:20:18.420> it<00:20:18.570> here<00:20:18.720> on<00:20:18.870> computer<00:20:19.290> it's 00:20:19.460 --> 00:20:19.470 align:start position:0% enhance it here on computer it's 00:20:19.470 --> 00:20:21.620 align:start position:0% enhance it here on computer it's probably<00:20:19.830> best<00:20:20.310> to<00:20:20.430> go<00:20:20.490> again<00:20:21.120> for<00:20:21.330> us<00:20:21.390> that's 00:20:21.620 --> 00:20:21.630 align:start position:0% probably best to go again for us that's 00:20:21.630 --> 00:20:23.330 align:start position:0% probably best to go again for us that's the<00:20:21.720> goal<00:20:21.930> and<00:20:22.140> admittedly<00:20:22.770> we<00:20:23.040> are<00:20:23.130> pretty 00:20:23.330 --> 00:20:23.340 align:start position:0% the goal and admittedly we are pretty 00:20:23.340 --> 00:20:25.400 align:start position:0% the goal and admittedly we are pretty early<00:20:23.490> on<00:20:23.730> here<00:20:24.000> right<00:20:24.300> so<00:20:24.600> we're<00:20:25.110> looking<00:20:25.320> at 00:20:25.400 --> 00:20:25.410 align:start position:0% early on here right so we're looking at 00:20:25.410 --> 00:20:27.860 align:start position:0% early on here right so we're looking at a<00:20:25.470> largely<00:20:26.460> unfunded<00:20:27.030> project<00:20:27.420> except<00:20:27.690> for 00:20:27.860 --> 00:20:27.870 align:start position:0% a largely unfunded project except for 00:20:27.870 --> 00:20:30.110 align:start position:0% a largely unfunded project except for some<00:20:28.020> donations<00:20:28.440> so<00:20:29.220> yeah<00:20:29.850> but<00:20:30.060> that's 00:20:30.110 --> 00:20:30.120 align:start position:0% some donations so yeah but that's 00:20:30.120 --> 00:20:33.890 align:start position:0% some donations so yeah but that's absolutely<00:20:30.660> go<00:20:30.840> well<00:20:31.590> thank<00:20:31.800> you<00:20:32.750> any<00:20:33.750> more 00:20:33.890 --> 00:20:33.900 align:start position:0% absolutely go well thank you any more 00:20:33.900 --> 00:20:36.640 align:start position:0% absolutely go well thank you any more questions 00:20:36.640 --> 00:20:36.650 align:start position:0% 00:20:36.650 --> 00:20:39.530 align:start position:0% do<00:20:37.650> you<00:20:37.770> have<00:20:37.950> to<00:20:38.070> open<00:20:38.340> up<00:20:38.460> a<00:20:38.850> Machado<00:20:39.360> with 00:20:39.530 --> 00:20:39.540 align:start position:0% do you have to open up a Machado with 00:20:39.540 --> 00:20:42.470 align:start position:0% do you have to open up a Machado with every<00:20:40.310> neighbor<00:20:41.310> that<00:20:41.610> you<00:20:41.700> have<00:20:41.880> I<00:20:42.330> guess 00:20:42.470 --> 00:20:42.480 align:start position:0% every neighbor that you have I guess 00:20:42.480 --> 00:20:45.410 align:start position:0% every neighbor that you have I guess with<00:20:42.750> every<00:20:43.200> relay<00:20:43.680> like<00:20:44.220> how<00:20:44.400> do<00:20:44.460> you<00:20:44.610> how 00:20:45.410 --> 00:20:45.420 align:start position:0% with every relay like how do you how 00:20:45.420 --> 00:20:47.240 align:start position:0% with every relay like how do you how does<00:20:45.480> that<00:20:45.780> work<00:20:45.960> and<00:20:46.170> also<00:20:46.470> is<00:20:46.710> in<00:20:46.830> their<00:20:46.950> turn 00:20:47.240 --> 00:20:47.250 align:start position:0% does that work and also is in their turn 00:20:47.250 --> 00:20:49.820 align:start position:0% does that work and also is in their turn in<00:20:47.850> terms<00:20:48.060> of<00:20:48.270> IQ<00:20:48.420> relays<00:20:49.080> popping<00:20:49.470> up<00:20:49.620> and 00:20:49.820 --> 00:20:49.830 align:start position:0% in terms of IQ relays popping up and 00:20:49.830 --> 00:20:51.500 align:start position:0% in terms of IQ relays popping up and other<00:20:49.920> ones<00:20:50.100> going<00:20:50.280> away<00:20:50.550> you<00:20:51.360> have<00:20:51.450> to 00:20:51.500 --> 00:20:51.510 align:start position:0% other ones going away you have to 00:20:51.510 --> 00:20:53.210 align:start position:0% other ones going away you have to constantly<00:20:51.840> be<00:20:52.020> opening<00:20:52.380> up<00:20:52.470> new<00:20:52.710> payment 00:20:53.210 --> 00:20:53.220 align:start position:0% constantly be opening up new payment 00:20:53.220 --> 00:20:56.600 align:start position:0% constantly be opening up new payment channels<00:20:53.520> is<00:20:53.640> that<00:20:53.670> any<00:20:54.030> kind<00:20:54.240> of<00:20:54.330> in<00:20:54.540> it<00:20:55.610> yeah 00:20:56.600 --> 00:20:56.610 align:start position:0% channels is that any kind of in it yeah 00:20:56.610 --> 00:20:58.580 align:start position:0% channels is that any kind of in it yeah so<00:20:57.000> how<00:20:57.330> does<00:20:57.390> this<00:20:57.630> work<00:20:57.870> right<00:20:58.080> now<00:20:58.260> right 00:20:58.580 --> 00:20:58.590 align:start position:0% so how does this work right now right 00:20:58.590 --> 00:21:00.220 align:start position:0% so how does this work right now right now<00:20:58.620> we<00:20:58.830> have<00:20:59.130> a<00:20:59.160> slightly<00:20:59.640> optimistic 00:21:00.220 --> 00:21:00.230 align:start position:0% now we have a slightly optimistic 00:21:00.230 --> 00:21:02.180 align:start position:0% now we have a slightly optimistic scenario<00:21:01.230> where<00:21:01.410> we<00:21:01.440> open<00:21:01.620> them<00:21:01.890> on<00:21:02.040> demand 00:21:02.180 --> 00:21:02.190 align:start position:0% scenario where we open them on demand 00:21:02.190 --> 00:21:04.010 align:start position:0% scenario where we open them on demand for<00:21:02.580> you<00:21:02.730> which<00:21:02.910> is<00:21:03.030> quite<00:21:03.330> easy<00:21:03.510> to<00:21:03.600> exploit 00:21:04.010 --> 00:21:04.020 align:start position:0% for you which is quite easy to exploit 00:21:04.020 --> 00:21:06.830 align:start position:0% for you which is quite easy to exploit right<00:21:04.320> and<00:21:04.590> but<00:21:05.520> the<00:21:05.610> idea<00:21:05.940> is<00:21:06.120> that<00:21:06.420> you<00:21:06.690> have 00:21:06.830 --> 00:21:06.840 align:start position:0% right and but the idea is that you have 00:21:06.840 --> 00:21:08.690 align:start position:0% right and but the idea is that you have some<00:21:07.020> strategies<00:21:07.560> as<00:21:08.040> to<00:21:08.280> what<00:21:08.490> payment 00:21:08.690 --> 00:21:08.700 align:start position:0% some strategies as to what payment 00:21:08.700 --> 00:21:10.730 align:start position:0% some strategies as to what payment shells<00:21:09.000> you<00:21:09.180> want<00:21:09.360> to<00:21:09.480> open<00:21:09.840> so<00:21:10.410> we<00:21:10.590> would 00:21:10.730 --> 00:21:10.740 align:start position:0% shells you want to open so we would 00:21:10.740 --> 00:21:13.490 align:start position:0% shells you want to open so we would actively<00:21:11.190> and<00:21:11.760> you<00:21:11.880> actively<00:21:12.390> open<00:21:12.780> them<00:21:12.900> we 00:21:13.490 --> 00:21:13.500 align:start position:0% actively and you actively open them we 00:21:13.500 --> 00:21:14.990 align:start position:0% actively and you actively open them we would<00:21:13.620> have<00:21:13.800> some<00:21:14.010> default<00:21:14.340> strategy<00:21:14.580> that 00:21:14.990 --> 00:21:15.000 align:start position:0% would have some default strategy that 00:21:15.000 --> 00:21:16.520 align:start position:0% would have some default strategy that you<00:21:15.120> could<00:21:15.300> you<00:21:15.750> could<00:21:15.930> change<00:21:16.110> yourself 00:21:16.520 --> 00:21:16.530 align:start position:0% you could you could change yourself 00:21:16.530 --> 00:21:18.530 align:start position:0% you could you could change yourself because<00:21:17.280> it<00:21:17.490> is<00:21:17.610> right<00:21:17.790> you<00:21:18.000> will<00:21:18.150> have<00:21:18.180> some 00:21:18.530 --> 00:21:18.540 align:start position:0% because it is right you will have some 00:21:18.540 --> 00:21:22.430 align:start position:0% because it is right you will have some churn<00:21:18.980> but<00:21:19.980> also<00:21:20.400> some<00:21:21.360> notes<00:21:21.750> will<00:21:22.020> be<00:21:22.050> decent 00:21:22.430 --> 00:21:22.440 align:start position:0% churn but also some notes will be decent 00:21:22.440 --> 00:21:24.460 align:start position:0% churn but also some notes will be decent relays<00:21:22.680> and<00:21:22.980> others<00:21:23.190> would<00:21:23.430> not<00:21:23.610> be<00:21:23.820> so 00:21:24.460 --> 00:21:24.470 align:start position:0% relays and others would not be so 00:21:24.470 --> 00:21:28.340 align:start position:0% relays and others would not be so basically<00:21:25.470> to<00:21:25.740> reduce<00:21:25.890> churn<00:21:26.430> and<00:21:27.140> we<00:21:28.140> are 00:21:28.340 --> 00:21:28.350 align:start position:0% basically to reduce churn and we are 00:21:28.350 --> 00:21:30.820 align:start position:0% basically to reduce churn and we are currently<00:21:28.740> working<00:21:29.010> on<00:21:29.310> some<00:21:29.790> mechanism<00:21:30.540> of 00:21:30.820 --> 00:21:30.830 align:start position:0% currently working on some mechanism of 00:21:30.830 --> 00:21:34.700 align:start position:0% currently working on some mechanism of slashing<00:21:32.420> those<00:21:33.420> three<00:21:34.020> layers<00:21:34.260> that<00:21:34.380> are 00:21:34.700 --> 00:21:34.710 align:start position:0% slashing those three layers that are 00:21:34.710 --> 00:21:37.640 align:start position:0% slashing those three layers that are offline<00:21:35.220> for<00:21:35.700> it<00:21:35.880> to<00:21:36.000> long<00:21:36.210> amount<00:21:36.450> of<00:21:36.510> time<00:21:36.650> so 00:21:37.640 --> 00:21:37.650 align:start position:0% offline for it to long amount of time so 00:21:37.650 --> 00:21:39.920 align:start position:0% offline for it to long amount of time so basically<00:21:38.400> something<00:21:39.150> that<00:21:39.330> would<00:21:39.630> be 00:21:39.920 --> 00:21:39.930 align:start position:0% basically something that would be 00:21:39.930 --> 00:21:41.510 align:start position:0% basically something that would be annoying<00:21:40.170> is<00:21:40.500> if<00:21:40.710> you're<00:21:40.950> in<00:21:41.130> the<00:21:41.250> London 00:21:41.510 --> 00:21:41.520 align:start position:0% annoying is if you're in the London 00:21:41.520 --> 00:21:44.389 align:start position:0% annoying is if you're in the London Underground<00:21:41.610> and<00:21:42.180> you're<00:21:42.360> like<00:21:42.570> oh 00:21:44.389 --> 00:21:44.399 align:start position:0% Underground and you're like oh 00:21:44.399 --> 00:21:45.980 align:start position:0% Underground and you're like oh so<00:21:44.730> you<00:21:44.820> have<00:21:44.909> like<00:21:45.059> some<00:21:45.269> maximum<00:21:45.450> traffic 00:21:45.980 --> 00:21:45.990 align:start position:0% so you have like some maximum traffic 00:21:45.990 --> 00:21:47.600 align:start position:0% so you have like some maximum traffic loss<00:21:46.289> right<00:21:46.529> so<00:21:46.919> that's<00:21:47.010> what<00:21:47.190> we<00:21:47.279> want<00:21:47.429> to 00:21:47.600 --> 00:21:47.610 align:start position:0% loss right so that's what we want to 00:21:47.610 --> 00:21:53.299 align:start position:0% loss right so that's what we want to prevent<00:21:48.090> here<00:21:48.360> I<00:21:51.409> think<00:21:52.409> we've<00:21:52.529> tied<00:21:52.950> for<00:21:53.159> one 00:21:53.299 --> 00:21:53.309 align:start position:0% prevent here I think we've tied for one 00:21:53.309 --> 00:21:57.490 align:start position:0% prevent here I think we've tied for one very<00:21:53.669> last<00:21:53.789> question 00:21:57.490 --> 00:21:57.500 align:start position:0% 00:21:57.500 --> 00:21:59.560 align:start position:0% or<00:21:58.039> otherwise<00:21:58.429> we<00:21:58.700> just<00:21:58.730> closed<00:21:59.150> it<00:21:59.270> here<00:21:59.450> and 00:21:59.560 --> 00:21:59.570 align:start position:0% or otherwise we just closed it here and 00:21:59.570 --> 00:22:01.090 align:start position:0% or otherwise we just closed it here and I'm<00:21:59.630> around<00:21:59.929> afterwards<00:22:00.409> if<00:22:00.500> anybody<00:22:00.890> has 00:22:01.090 --> 00:22:01.100 align:start position:0% I'm around afterwards if anybody has 00:22:01.100 --> 00:22:03.130 align:start position:0% I'm around afterwards if anybody has questions<00:22:01.190> in<00:22:01.610> that<00:22:01.760> one-to-one<00:22:02.390> basis<00:22:02.900> thank 00:22:03.130 --> 00:22:03.140 align:start position:0% questions in that one-to-one basis thank 00:22:03.140 --> 00:22:06.090 align:start position:0% questions in that one-to-one basis thank you<00:22:03.230> very<00:22:03.350> much 00:22:06.090 --> 00:22:06.100 align:start position:0% 00:22:06.100 --> 00:22:12.480 align:start position:0% [Applause]