WEBVTT Kind: captions Language: en 00:00:04.880 --> 00:00:06.760 align:start position:0% so<00:00:05.540> we're<00:00:05.720> gonna<00:00:05.810> go<00:00:05.990> ahead<00:00:06.140> and<00:00:06.230> get<00:00:06.350> started 00:00:06.760 --> 00:00:06.770 align:start position:0% so we're gonna go ahead and get started 00:00:06.770 --> 00:00:09.430 align:start position:0% so we're gonna go ahead and get started I'm<00:00:07.310> gonna<00:00:07.600> be<00:00:08.600> very<00:00:08.960> very<00:00:09.200> brief 00:00:09.430 --> 00:00:09.440 align:start position:0% I'm gonna be very very brief 00:00:09.440 --> 00:00:11.020 align:start position:0% I'm gonna be very very brief I'm<00:00:09.590> Paul<00:00:09.860> Brody<00:00:10.129> I'm<00:00:10.309> the<00:00:10.430> global<00:00:10.549> blockchain 00:00:11.020 --> 00:00:11.030 align:start position:0% I'm Paul Brody I'm the global blockchain 00:00:11.030 --> 00:00:13.720 align:start position:0% I'm Paul Brody I'm the global blockchain leader<00:00:11.240> at<00:00:11.360> ey<00:00:11.629> and<00:00:12.129> before<00:00:13.129> I<00:00:13.160> hand<00:00:13.459> this<00:00:13.580> over 00:00:13.720 --> 00:00:13.730 align:start position:0% leader at ey and before I hand this over 00:00:13.730 --> 00:00:15.250 align:start position:0% leader at ey and before I hand this over to<00:00:13.879> the<00:00:14.090> people<00:00:14.360> who<00:00:14.570> actually<00:00:14.600> know<00:00:15.230> what 00:00:15.250 --> 00:00:15.260 align:start position:0% to the people who actually know what 00:00:15.260 --> 00:00:17.470 align:start position:0% to the people who actually know what they're<00:00:15.680> doing<00:00:16.039> I<00:00:16.219> just<00:00:16.940> want<00:00:17.090> to<00:00:17.180> kind<00:00:17.359> of 00:00:17.470 --> 00:00:17.480 align:start position:0% they're doing I just want to kind of 00:00:17.480 --> 00:00:19.510 align:start position:0% they're doing I just want to kind of give<00:00:17.660> you<00:00:17.690> two<00:00:17.960> pieces<00:00:18.859> of<00:00:18.890> information<00:00:19.220> that 00:00:19.510 --> 00:00:19.520 align:start position:0% give you two pieces of information that 00:00:19.520 --> 00:00:21.250 align:start position:0% give you two pieces of information that might<00:00:19.760> be<00:00:19.939> useful<00:00:20.510> for<00:00:20.660> your<00:00:20.870> background 00:00:21.250 --> 00:00:21.260 align:start position:0% might be useful for your background 00:00:21.260 --> 00:00:23.920 align:start position:0% might be useful for your background number<00:00:21.470> one<00:00:21.740> a<00:00:22.210> little<00:00:23.210> bit<00:00:23.330> about<00:00:23.480> a<00:00:23.750> why 00:00:23.920 --> 00:00:23.930 align:start position:0% number one a little bit about a why 00:00:23.930 --> 00:00:24.880 align:start position:0% number one a little bit about a why right 00:00:24.880 --> 00:00:24.890 align:start position:0% right 00:00:24.890 --> 00:00:29.080 align:start position:0% right ey<00:00:25.370> is<00:00:25.789> all<00:00:26.630> in<00:00:27.350> on<00:00:27.650> the<00:00:27.950> etherium<00:00:28.400> ecosystem 00:00:29.080 --> 00:00:29.090 align:start position:0% ey is all in on the etherium ecosystem 00:00:29.090 --> 00:00:31.300 align:start position:0% ey is all in on the etherium ecosystem right<00:00:29.630> everything<00:00:30.380> that<00:00:30.500> we<00:00:30.650> do<00:00:30.830> all<00:00:31.039> of<00:00:31.070> our 00:00:31.300 --> 00:00:31.310 align:start position:0% right everything that we do all of our 00:00:31.310 --> 00:00:32.830 align:start position:0% right everything that we do all of our applications<00:00:32.119> that<00:00:32.239> we<00:00:32.419> develop<00:00:32.780> in 00:00:32.830 --> 00:00:32.840 align:start position:0% applications that we develop in 00:00:32.840 --> 00:00:35.080 align:start position:0% applications that we develop in blockchain<00:00:33.350> are<00:00:33.559> developed<00:00:34.309> in<00:00:34.430> the<00:00:34.730> etherium 00:00:35.080 --> 00:00:35.090 align:start position:0% blockchain are developed in the etherium 00:00:35.090 --> 00:00:37.180 align:start position:0% blockchain are developed in the etherium ecosystem<00:00:35.719> they<00:00:36.260> run<00:00:36.469> on<00:00:36.500> the<00:00:36.739> etherium 00:00:37.180 --> 00:00:37.190 align:start position:0% ecosystem they run on the etherium 00:00:37.190 --> 00:00:40.000 align:start position:0% ecosystem they run on the etherium private<00:00:37.999> solutions<00:00:38.210> they<00:00:38.629> run<00:00:38.839> in<00:00:39.079> quorum<00:00:39.829> and 00:00:40.000 --> 00:00:40.010 align:start position:0% private solutions they run in quorum and 00:00:40.010 --> 00:00:41.919 align:start position:0% private solutions they run in quorum and most<00:00:40.519> importantly<00:00:41.089> from<00:00:41.269> a<00:00:41.359> strategic 00:00:41.919 --> 00:00:41.929 align:start position:0% most importantly from a strategic 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main<00:00:50.629> net<00:00:50.839> now<00:00:51.649> why<00:00:51.949> do<00:00:52.010> we<00:00:52.309> believe 00:00:52.479 --> 00:00:52.489 align:start position:0% public main net now why do we believe 00:00:52.489 --> 00:00:54.040 align:start position:0% public main net now why do we believe enterprises<00:00:53.239> should<00:00:53.269> use<00:00:53.510> the<00:00:53.629> public<00:00:53.899> name 00:00:54.040 --> 00:00:54.050 align:start position:0% enterprises should use the public name 00:00:54.050 --> 00:00:56.529 align:start position:0% enterprises should use the public name that<00:00:54.260> this<00:00:54.440> is<00:00:54.589> item<00:00:54.979> number<00:00:55.010> two<00:00:55.429> we<00:00:56.149> believe 00:00:56.529 --> 00:00:56.539 align:start position:0% that this is item number two we believe 00:00:56.539 --> 00:01:00.239 align:start position:0% that this is item number two we believe that<00:00:57.499> blockchains<00:00:58.460> will<00:00:58.729> be<00:00:58.999> the<00:00:59.569> biggest 00:01:00.239 --> 00:01:00.249 align:start position:0% that blockchains will be the biggest 00:01:00.249 --> 00:01:02.139 align:start position:0% that blockchains will be the biggest transformational<00:01:01.249> technology<00:01:01.969> for 00:01:02.139 --> 00:01:02.149 align:start position:0% transformational technology for 00:01:02.149 --> 00:01:05.560 align:start position:0% transformational technology for enterprises<00:01:02.569> since<00:01:03.049> ERP<00:01:03.589> so<00:01:04.280> ERP<00:01:04.790> got 00:01:05.560 --> 00:01:05.570 align:start position:0% enterprises since ERP so ERP got 00:01:05.570 --> 00:01:07.740 align:start position:0% enterprises since ERP so ERP got enterprises<00:01:06.320> to<00:01:06.440> coordinate<00:01:06.920> internally 00:01:07.740 --> 00:01:07.750 align:start position:0% enterprises to coordinate internally 00:01:07.750 --> 00:01:10.120 align:start position:0% enterprises to coordinate internally blockchain<00:01:08.750> is<00:01:08.899> a<00:01:08.930> tool<00:01:09.289> that's<00:01:09.799> going<00:01:10.009> to 00:01:10.120 --> 00:01:10.130 align:start position:0% blockchain is a tool that's going to 00:01:10.130 --> 00:01:12.219 align:start position:0% blockchain is a tool that's going to allow<00:01:10.310> networks<00:01:10.880> of<00:01:11.060> companies<00:01:11.509> entire 00:01:12.219 --> 00:01:12.229 align:start position:0% allow networks of companies entire 00:01:12.229 --> 00:01:14.529 align:start position:0% allow networks of companies entire business<00:01:12.710> ecosystems<00:01:13.399> to<00:01:13.909> transact 00:01:14.529 --> 00:01:14.539 align:start position:0% business ecosystems to transact 00:01:14.539 --> 00:01:16.359 align:start position:0% business ecosystems to transact seamlessly<00:01:15.229> with<00:01:15.380> each<00:01:15.469> other<00:01:15.680> to<00:01:16.159> build 00:01:16.359 --> 00:01:16.369 align:start position:0% seamlessly with each other to build 00:01:16.369 --> 00:01:18.670 align:start position:0% seamlessly with each other to build complex<00:01:17.000> supply<00:01:17.270> chains<00:01:17.689> with<00:01:18.140> a<00:01:18.170> very<00:01:18.469> low 00:01:18.670 --> 00:01:18.680 align:start position:0% complex supply chains with a very low 00:01:18.680 --> 00:01:20.620 align:start position:0% complex supply chains with a very low overhead<00:01:19.009> and<00:01:19.399> incredibly<00:01:19.880> high<00:01:20.060> efficiency 00:01:20.620 --> 00:01:20.630 align:start position:0% overhead and incredibly high efficiency 00:01:20.630 --> 00:01:23.020 align:start position:0% overhead and incredibly high efficiency but<00:01:21.140> and<00:01:21.530> this<00:01:22.130> is<00:01:22.189> the<00:01:22.399> important<00:01:22.789> thing 00:01:23.020 --> 00:01:23.030 align:start position:0% but and this is the important thing 00:01:23.030 --> 00:01:24.880 align:start position:0% but and this is the important thing none<00:01:23.420> of<00:01:23.450> this<00:01:23.719> matters<00:01:23.960> and<00:01:24.439> it<00:01:24.560> will<00:01:24.710> never 00:01:24.880 --> 00:01:24.890 align:start position:0% none of this matters and it will never 00:01:24.890 --> 00:01:28.450 align:start position:0% none of this matters and it will never happen<00:01:25.280> if<00:01:25.759> we<00:01:26.420> don't<00:01:26.689> have<00:01:27.369> incredibly<00:01:28.369> high 00:01:28.450 --> 00:01:28.460 align:start position:0% happen if we don't have incredibly high 00:01:28.460 --> 00:01:31.300 align:start position:0% happen if we don't have incredibly high standards<00:01:29.149> of<00:01:29.420> security<00:01:30.079> and<00:01:30.229> privacy<00:01:30.500> for 00:01:31.300 --> 00:01:31.310 align:start position:0% standards of security and privacy for 00:01:31.310 --> 00:01:33.490 align:start position:0% standards of security and privacy for public<00:01:31.609> blockchains<00:01:32.090> right<00:01:32.630> no<00:01:32.930> corporation 00:01:33.490 --> 00:01:33.500 align:start position:0% public blockchains right no corporation 00:01:33.500 --> 00:01:35.109 align:start position:0% public blockchains right no corporation no<00:01:33.799> enterprise<00:01:34.219> is<00:01:34.399> going<00:01:34.579> to<00:01:34.640> sign<00:01:34.820> up<00:01:34.969> for 00:01:35.109 --> 00:01:35.119 align:start position:0% no enterprise is going to sign up for 00:01:35.119 --> 00:01:36.999 align:start position:0% no enterprise is going to sign up for anything<00:01:35.420> if<00:01:35.840> they<00:01:36.409> know<00:01:36.679> that<00:01:36.710> their 00:01:36.999 --> 00:01:37.009 align:start position:0% anything if they know that their 00:01:37.009 --> 00:01:38.440 align:start position:0% anything if they know that their competition<00:01:37.640> can<00:01:37.789> see<00:01:37.909> what<00:01:38.119> they're<00:01:38.270> buying 00:01:38.440 --> 00:01:38.450 align:start position:0% competition can see what they're buying 00:01:38.450 --> 00:01:40.749 align:start position:0% competition can see what they're buying or<00:01:38.990> how<00:01:39.170> much<00:01:39.320> they're<00:01:39.500> paying<00:01:39.829> or<00:01:40.130> where<00:01:40.609> it's 00:01:40.749 --> 00:01:40.759 align:start position:0% or how much they're paying or where it's 00:01:40.759 --> 00:01:44.410 align:start position:0% or how much they're paying or where it's going<00:01:41.090> so<00:01:42.159> nightfall<00:01:43.159> is<00:01:43.429> all<00:01:43.909> about<00:01:44.179> our 00:01:44.410 --> 00:01:44.420 align:start position:0% going so nightfall is all about our 00:01:44.420 --> 00:01:46.599 align:start position:0% going so nightfall is all about our efforts<00:01:44.960> to<00:01:45.409> start<00:01:45.649> to<00:01:45.950> make<00:01:46.130> that<00:01:46.310> possible 00:01:46.599 --> 00:01:46.609 align:start position:0% efforts to start to make that possible 00:01:46.609 --> 00:01:48.130 align:start position:0% efforts to start to make that possible and<00:01:46.969> it<00:01:47.119> fits<00:01:47.329> in<00:01:47.450> with<00:01:47.600> a<00:01:47.630> lot<00:01:47.810> of<00:01:47.929> the<00:01:48.020> other 00:01:48.130 --> 00:01:48.140 align:start position:0% and it fits in with a lot of the other 00:01:48.140 --> 00:01:49.389 align:start position:0% and it fits in with a lot of the other work<00:01:48.289> we're<00:01:48.469> doing<00:01:48.499> whether<00:01:48.859> it's<00:01:49.009> audit 00:01:49.389 --> 00:01:49.399 align:start position:0% work we're doing whether it's audit 00:01:49.399 --> 00:01:51.880 align:start position:0% work we're doing whether it's audit security<00:01:50.299> tools<00:01:50.539> or<00:01:50.780> regulatory<00:01:51.320> compliance 00:01:51.880 --> 00:01:51.890 align:start position:0% security tools or regulatory compliance 00:01:51.890 --> 00:01:54.340 align:start position:0% security tools or regulatory compliance and<00:01:52.490> without<00:01:53.450> any<00:01:53.630> further<00:01:53.869> ado<00:01:54.109> I'm<00:01:54.200> going<00:01:54.289> to 00:01:54.340 --> 00:01:54.350 align:start position:0% and without any further ado I'm going to 00:01:54.350 --> 00:01:56.950 align:start position:0% and without any further ado I'm going to hand<00:01:54.409> it<00:01:54.560> over<00:01:54.649> to<00:01:54.799> the<00:01:55.009> brilliant<00:01:55.960> nightfall 00:01:56.950 --> 00:01:56.960 align:start position:0% hand it over to the brilliant nightfall 00:01:56.960 --> 00:01:59.490 align:start position:0% hand it over to the brilliant nightfall team<00:01:57.200> Michael 00:01:59.490 --> 00:01:59.500 align:start position:0% team Michael 00:01:59.500 --> 00:02:02.760 align:start position:0% team Michael [Applause] 00:02:02.760 --> 00:02:02.770 align:start position:0% [Applause] 00:02:02.770 --> 00:02:04.840 align:start position:0% [Applause] so<00:02:03.770> yeah<00:02:03.979> what<00:02:04.220> we're<00:02:04.310> gonna<00:02:04.399> do<00:02:04.610> is<00:02:04.729> we're 00:02:04.840 --> 00:02:04.850 align:start position:0% so yeah what we're gonna do is we're 00:02:04.850 --> 00:02:06.700 align:start position:0% so yeah what we're gonna do is we're gonna<00:02:04.909> quickly<00:02:05.210> go<00:02:05.479> over<00:02:05.509> what<00:02:05.810> nightfall<00:02:06.500> is 00:02:06.700 --> 00:02:06.710 align:start position:0% gonna quickly go over what nightfall is 00:02:06.710 --> 00:02:08.830 align:start position:0% gonna quickly go over what nightfall is Paul's<00:02:07.640> covered<00:02:08.000> why<00:02:08.179> we're<00:02:08.390> doing<00:02:08.539> this 00:02:08.830 --> 00:02:08.840 align:start position:0% Paul's covered why we're doing this 00:02:08.840 --> 00:02:10.779 align:start position:0% Paul's covered why we're doing this we're<00:02:09.410> going<00:02:09.500> to<00:02:09.560> cover<00:02:09.770> the<00:02:10.039> high-level 00:02:10.779 --> 00:02:10.789 align:start position:0% we're going to cover the high-level 00:02:10.789 --> 00:02:12.760 align:start position:0% we're going to cover the high-level architecture<00:02:11.050> how<00:02:12.050> people<00:02:12.410> can<00:02:12.500> use 00:02:12.760 --> 00:02:12.770 align:start position:0% architecture how people can use 00:02:12.770 --> 00:02:15.339 align:start position:0% architecture how people can use nightfall<00:02:13.310> to<00:02:14.300> build<00:02:14.840> on<00:02:14.989> top<00:02:15.140> of<00:02:15.200> their 00:02:15.339 --> 00:02:15.349 align:start position:0% nightfall to build on top of their 00:02:15.349 --> 00:02:17.260 align:start position:0% nightfall to build on top of their applications<00:02:15.920> and<00:02:16.220> their<00:02:16.610> new<00:02:16.790> serfs<00:02:17.090> going 00:02:17.260 --> 00:02:17.270 align:start position:0% applications and their new serfs going 00:02:17.270 --> 00:02:20.920 align:start position:0% applications and their new serfs going to<00:02:17.330> cover<00:02:17.540> an<00:02:18.319> exciting<00:02:19.010> new<00:02:19.819> piece<00:02:20.690> of<00:02:20.720> work 00:02:20.920 --> 00:02:20.930 align:start position:0% to cover an exciting new piece of work 00:02:20.930 --> 00:02:24.880 align:start position:0% to cover an exciting new piece of work we're<00:02:21.080> doing<00:02:21.110> on<00:02:21.319> batching<00:02:23.260> so<00:02:24.260> yeah<00:02:24.410> public 00:02:24.880 --> 00:02:24.890 align:start position:0% we're doing on batching so yeah public 00:02:24.890 --> 00:02:26.080 align:start position:0% we're doing on batching so yeah public blockchain<00:02:25.220> is<00:02:25.250> great<00:02:25.550> we<00:02:25.730> can<00:02:25.880> all<00:02:25.970> agree 00:02:26.080 --> 00:02:26.090 align:start position:0% blockchain is great we can all agree 00:02:26.090 --> 00:02:29.020 align:start position:0% blockchain is great we can all agree with<00:02:26.360> that<00:02:26.830> but<00:02:27.830> the<00:02:28.040> transaction<00:02:28.430> data<00:02:28.790> is 00:02:29.020 --> 00:02:29.030 align:start position:0% with that but the transaction data is 00:02:29.030 --> 00:02:32.520 align:start position:0% with that but the transaction data is public<00:02:30.130> whereas<00:02:31.130> businesses<00:02:31.730> they<00:02:32.269> need 00:02:32.520 --> 00:02:32.530 align:start position:0% public whereas businesses they need 00:02:32.530 --> 00:02:35.559 align:start position:0% public whereas businesses they need transactional<00:02:33.530> privacy<00:02:34.040> okay<00:02:34.280> as<00:02:35.209> Paul 00:02:35.559 --> 00:02:35.569 align:start position:0% transactional privacy okay as Paul 00:02:35.569 --> 00:02:36.970 align:start position:0% transactional privacy okay as Paul mentioned<00:02:35.600> and<00:02:36.200> that's<00:02:36.380> why<00:02:36.590> we<00:02:36.769> build 00:02:36.970 --> 00:02:36.980 align:start position:0% mentioned and that's why we build 00:02:36.980 --> 00:02:40.090 align:start position:0% mentioned and that's why we build nightfall<00:02:38.049> so<00:02:39.049> what<00:02:39.260> kind<00:02:39.440> of<00:02:39.500> privacy<00:02:39.950> does 00:02:40.090 --> 00:02:40.100 align:start position:0% nightfall so what kind of privacy does 00:02:40.100 --> 00:02:42.009 align:start position:0% nightfall so what kind of privacy does nightfall<00:02:40.489> enable<00:02:40.850> at<00:02:40.940> the<00:02:41.000> moment<00:02:41.360> well<00:02:41.900> it 00:02:42.009 --> 00:02:42.019 align:start position:0% nightfall enable at the moment well it 00:02:42.019 --> 00:02:45.490 align:start position:0% nightfall enable at the moment well it enables<00:02:42.410> privacy<00:02:43.190> of<00:02:43.310> ERC<00:02:44.299> 20<00:02:44.780> contracts<00:02:45.260> and 00:02:45.490 --> 00:02:45.500 align:start position:0% enables privacy of ERC 20 contracts and 00:02:45.500 --> 00:02:48.520 align:start position:0% enables privacy of ERC 20 contracts and ERC<00:02:45.920> 71<00:02:46.580> contracts<00:02:47.209> so<00:02:47.780> you're<00:02:47.930> fungible<00:02:48.410> and 00:02:48.520 --> 00:02:48.530 align:start position:0% ERC 71 contracts so you're fungible and 00:02:48.530 --> 00:02:50.590 align:start position:0% ERC 71 contracts so you're fungible and non<00:02:48.650> fungible<00:02:49.069> tokens<00:02:49.519> already<00:02:50.239> deployed 00:02:50.590 --> 00:02:50.600 align:start position:0% non fungible tokens already deployed 00:02:50.600 --> 00:02:52.630 align:start position:0% non fungible tokens already deployed contracts<00:02:51.319> people<00:02:52.040> who<00:02:52.130> earn<00:02:52.250> those<00:02:52.400> tokens 00:02:52.630 --> 00:02:52.640 align:start position:0% contracts people who earn those tokens 00:02:52.640 --> 00:02:55.030 align:start position:0% contracts people who earn those tokens to<00:02:52.970> make<00:02:53.269> their<00:02:53.480> tokens<00:02:53.870> private<00:02:54.350> and<00:02:54.500> they 00:02:55.030 --> 00:02:55.040 align:start position:0% to make their tokens private and they 00:02:55.040 --> 00:02:57.970 align:start position:0% to make their tokens private and they can<00:02:55.220> hide<00:02:55.519> the<00:02:56.269> content<00:02:57.110> being<00:02:57.230> sent<00:02:57.560> so<00:02:57.799> for 00:02:57.970 --> 00:02:57.980 align:start position:0% can hide the content being sent so for 00:02:57.980 --> 00:03:01.809 align:start position:0% can hide the content being sent so for ERC<00:02:58.280> 71<00:02:58.850> the<00:02:58.970> asset<00:02:59.420> or<00:02:59.660> for<00:03:00.620> ERC<00:03:01.220> 20<00:03:01.580> they<00:03:01.670> can 00:03:01.809 --> 00:03:01.819 align:start position:0% ERC 71 the asset or for ERC 20 they can 00:03:01.819 --> 00:03:03.880 align:start position:0% ERC 71 the asset or for ERC 20 they can hide<00:03:02.000> the<00:03:02.120> value<00:03:02.390> being<00:03:02.510> sent<00:03:02.840> they<00:03:03.620> can<00:03:03.769> also 00:03:03.880 --> 00:03:03.890 align:start position:0% hide the value being sent they can also 00:03:03.890 --> 00:03:06.130 align:start position:0% hide the value being sent they can also hide<00:03:04.280> the<00:03:04.489> recipient<00:03:05.090> so<00:03:05.599> the<00:03:05.720> person<00:03:05.989> being 00:03:06.130 --> 00:03:06.140 align:start position:0% hide the recipient so the person being 00:03:06.140 --> 00:03:07.630 align:start position:0% hide the recipient so the person being sent<00:03:06.410> the<00:03:06.500> money<00:03:06.650> will<00:03:06.890> be<00:03:07.010> hidden<00:03:07.190> and<00:03:07.459> won't 00:03:07.630 --> 00:03:07.640 align:start position:0% sent the money will be hidden and won't 00:03:07.640 --> 00:03:11.680 align:start position:0% sent the money will be hidden and won't be<00:03:07.730> known<00:03:09.370> ok<00:03:10.400> and<00:03:10.579> really<00:03:11.150> importantly<00:03:11.570> and 00:03:11.680 --> 00:03:11.690 align:start position:0% be known ok and really importantly and 00:03:11.690 --> 00:03:13.330 align:start position:0% be known ok and really importantly and what<00:03:11.720> we're<00:03:11.900> most<00:03:12.079> excited<00:03:12.200> about<00:03:12.560> is<00:03:13.010> that 00:03:13.330 --> 00:03:13.340 align:start position:0% what we're most excited about is that 00:03:13.340 --> 00:03:15.729 align:start position:0% what we're most excited about is that this<00:03:13.430> is<00:03:13.579> completely<00:03:13.730> open<00:03:14.450> source<00:03:14.959> in<00:03:15.320> the 00:03:15.729 --> 00:03:15.739 align:start position:0% this is completely open source in the 00:03:15.739 --> 00:03:17.380 align:start position:0% this is completely open source in the public<00:03:16.070> domain<00:03:16.220> so<00:03:16.370> we've<00:03:16.670> released<00:03:16.970> all<00:03:17.209> this 00:03:17.380 --> 00:03:17.390 align:start position:0% public domain so we've released all this 00:03:17.390 --> 00:03:19.840 align:start position:0% public domain so we've released all this because<00:03:18.019> we<00:03:18.170> believe<00:03:18.410> the<00:03:18.590> best<00:03:18.799> way<00:03:18.950> to<00:03:19.340> get 00:03:19.840 --> 00:03:19.850 align:start position:0% because we believe the best way to get 00:03:19.850 --> 00:03:21.699 align:start position:0% because we believe the best way to get businesses<00:03:20.299> to<00:03:20.510> that<00:03:20.690> stage<00:03:20.959> to<00:03:21.170> using<00:03:21.620> the 00:03:21.699 --> 00:03:21.709 align:start position:0% businesses to that stage to using the 00:03:21.709 --> 00:03:24.880 align:start position:0% businesses to that stage to using the public<00:03:22.100> main<00:03:22.280> that<00:03:22.519> is<00:03:23.140> to<00:03:24.140> contribute<00:03:24.530> and<00:03:24.829> to 00:03:24.880 --> 00:03:24.890 align:start position:0% public main that is to contribute and to 00:03:24.890 --> 00:03:26.800 align:start position:0% public main that is to contribute and to work<00:03:25.340> with<00:03:25.519> the<00:03:25.609> community<00:03:26.000> to<00:03:26.209> get<00:03:26.690> these 00:03:26.800 --> 00:03:26.810 align:start position:0% work with the community to get these 00:03:26.810 --> 00:03:29.680 align:start position:0% work with the community to get these tools<00:03:27.109> as<00:03:27.320> good<00:03:27.560> as<00:03:27.650> possible<00:03:28.359> so<00:03:29.359> we're 00:03:29.680 --> 00:03:29.690 align:start position:0% tools as good as possible so we're 00:03:29.690 --> 00:03:32.140 align:start position:0% tools as good as possible so we're inviting<00:03:30.079> everyone<00:03:30.170> to<00:03:30.640> come<00:03:31.640> look<00:03:32.000> at<00:03:32.030> the 00:03:32.140 --> 00:03:32.150 align:start position:0% inviting everyone to come look at the 00:03:32.150 --> 00:03:35.440 align:start position:0% inviting everyone to come look at the repo<00:03:32.510> contributions<00:03:33.470> or<00:03:33.590> welcome<00:03:33.950> and<00:03:34.819> let's 00:03:35.440 --> 00:03:35.450 align:start position:0% repo contributions or welcome and let's 00:03:35.450 --> 00:03:37.059 align:start position:0% repo contributions or welcome and let's talk<00:03:35.720> and<00:03:35.930> we'll<00:03:36.350> talk<00:03:36.590> about<00:03:36.709> what<00:03:36.950> we're 00:03:37.059 --> 00:03:37.069 align:start position:0% talk and we'll talk about what we're 00:03:37.069 --> 00:03:39.039 align:start position:0% talk and we'll talk about what we're planning<00:03:37.160> on<00:03:37.430> doing<00:03:37.459> next<00:03:37.819> if<00:03:38.390> anyone<00:03:38.780> has<00:03:38.900> any 00:03:39.039 --> 00:03:39.049 align:start position:0% planning on doing next if anyone has any 00:03:39.049 --> 00:03:41.349 align:start position:0% planning on doing next if anyone has any good<00:03:39.230> ideas<00:03:39.590> get<00:03:39.829> in<00:03:39.950> touch<00:03:40.190> open<00:03:40.730> issues<00:03:41.060> open 00:03:41.349 --> 00:03:41.359 align:start position:0% good ideas get in touch open issues open 00:03:41.359 --> 00:03:44.970 align:start position:0% good ideas get in touch open issues open PRS<00:03:41.720> on<00:03:41.840> github<00:03:42.230> we'd<00:03:42.920> really<00:03:43.160> encourage<00:03:43.250> that 00:03:44.970 --> 00:03:44.980 align:start position:0% PRS on github we'd really encourage that 00:03:44.980 --> 00:03:48.729 align:start position:0% PRS on github we'd really encourage that so<00:03:45.980> at<00:03:46.220> its<00:03:46.340> core<00:03:46.760> nightfall<00:03:47.569> has<00:03:48.049> six<00:03:48.500> sub 00:03:48.729 --> 00:03:48.739 align:start position:0% so at its core nightfall has six sub 00:03:48.739 --> 00:03:54.190 align:start position:0% so at its core nightfall has six sub protocols<00:03:51.250> so<00:03:52.250> it<00:03:52.370> does<00:03:52.579> mint<00:03:52.989> transfer<00:03:53.989> and 00:03:54.190 --> 00:03:54.200 align:start position:0% protocols so it does mint transfer and 00:03:54.200 --> 00:03:56.770 align:start position:0% protocols so it does mint transfer and burn<00:03:54.560> off<00:03:54.829> standard<00:03:55.549> years<00:03:55.880> 20<00:03:56.329> and<00:03:56.420> years<00:03:56.660> to 00:03:56.770 --> 00:03:56.780 align:start position:0% burn off standard years 20 and years to 00:03:56.780 --> 00:04:00.910 align:start position:0% burn off standard years 20 and years to 7:21<00:03:57.819> token<00:03:58.819> contracts<00:03:59.329> so<00:03:59.900> what<00:04:00.380> a<00:04:00.410> mint<00:04:00.650> does 00:04:00.910 --> 00:04:00.920 align:start position:0% 7:21 token contracts so what a mint does 00:04:00.920 --> 00:04:04.000 align:start position:0% 7:21 token contracts so what a mint does is<00:04:01.250> it<00:04:01.400> takes<00:04:01.579> your<00:04:01.819> ERC<00:04:02.359> 20<00:04:02.690> or<00:04:02.840> 721<00:04:03.440> token<00:04:03.859> and 00:04:04.000 --> 00:04:04.010 align:start position:0% is it takes your ERC 20 or 721 token and 00:04:04.010 --> 00:04:06.849 align:start position:0% is it takes your ERC 20 or 721 token and mints<00:04:04.760> it<00:04:04.970> as<00:04:05.090> an<00:04:05.329> equivalent<00:04:06.260> token 00:04:06.849 --> 00:04:06.859 align:start position:0% mints it as an equivalent token 00:04:06.859 --> 00:04:08.800 align:start position:0% mints it as an equivalent token commitment<00:04:07.400> that<00:04:07.579> holds<00:04:07.910> the<00:04:08.030> same<00:04:08.239> value<00:04:08.780> as 00:04:08.800 --> 00:04:08.810 align:start position:0% commitment that holds the same value as 00:04:08.810 --> 00:04:11.560 align:start position:0% commitment that holds the same value as a<00:04:09.049> fungible<00:04:09.440> token<00:04:09.859> of<00:04:09.950> ERC<00:04:10.340> 20<00:04:10.639> or<00:04:10.820> the<00:04:11.389> same 00:04:11.560 --> 00:04:11.570 align:start position:0% a fungible token of ERC 20 or the same 00:04:11.570 --> 00:04:15.219 align:start position:0% a fungible token of ERC 20 or the same token<00:04:11.810> ID<00:04:12.079> as<00:04:12.350> the<00:04:12.380> near<00:04:12.680> c7<00:04:13.130> 21<00:04:13.840> these<00:04:14.840> token 00:04:15.219 --> 00:04:15.229 align:start position:0% token ID as the near c7 21 these token 00:04:15.229 --> 00:04:15.809 align:start position:0% token ID as the near c7 21 these token commitments 00:04:15.809 --> 00:04:15.819 align:start position:0% commitments 00:04:15.819 --> 00:04:17.789 align:start position:0% commitments later<00:04:16.090> be<00:04:16.419> used<00:04:16.449> to<00:04:17.199> transfer<00:04:17.650> between 00:04:17.789 --> 00:04:17.799 align:start position:0% later be used to transfer between 00:04:17.799 --> 00:04:19.400 align:start position:0% later be used to transfer between various<00:04:18.220> parties<00:04:18.669> to<00:04:18.820> transact 00:04:19.400 --> 00:04:19.410 align:start position:0% various parties to transact 00:04:19.410 --> 00:04:21.420 align:start position:0% various parties to transact confidentially<00:04:20.410> as<00:04:20.500> well<00:04:20.680> as<00:04:20.799> anonymously 00:04:21.420 --> 00:04:21.430 align:start position:0% confidentially as well as anonymously 00:04:21.430 --> 00:04:24.570 align:start position:0% confidentially as well as anonymously and<00:04:21.780> Bern<00:04:22.780> lets<00:04:23.500> you<00:04:23.710> do<00:04:23.830> the<00:04:23.949> opposite<00:04:24.430> of 00:04:24.570 --> 00:04:24.580 align:start position:0% and Bern lets you do the opposite of 00:04:24.580 --> 00:04:26.610 align:start position:0% and Bern lets you do the opposite of mint<00:04:24.880> which<00:04:25.180> takes<00:04:25.509> this<00:04:25.750> token<00:04:26.080> commitments 00:04:26.610 --> 00:04:26.620 align:start position:0% mint which takes this token commitments 00:04:26.620 --> 00:04:28.560 align:start position:0% mint which takes this token commitments and<00:04:26.740> burns<00:04:27.130> them<00:04:27.400> stick<00:04:27.639> burns<00:04:28.120> them<00:04:28.330> to<00:04:28.449> give 00:04:28.560 --> 00:04:28.570 align:start position:0% and burns them stick burns them to give 00:04:28.570 --> 00:04:31.770 align:start position:0% and burns them stick burns them to give you<00:04:28.660> back<00:04:28.810> an<00:04:28.960> equivalent<00:04:29.530> ERC<00:04:30.400> 20<00:04:30.759> or<00:04:30.940> 721 00:04:31.770 --> 00:04:31.780 align:start position:0% you back an equivalent ERC 20 or 721 00:04:31.780 --> 00:04:34.290 align:start position:0% you back an equivalent ERC 20 or 721 that<00:04:32.380> is<00:04:32.530> held<00:04:32.830> in<00:04:32.979> escrow<00:04:33.340> it's<00:04:33.669> released<00:04:34.030> on 00:04:34.290 --> 00:04:34.300 align:start position:0% that is held in escrow it's released on 00:04:34.300 --> 00:04:43.469 align:start position:0% that is held in escrow it's released on burn<00:04:40.199> at<00:04:41.199> a<00:04:41.680> very<00:04:41.919> high<00:04:42.220> level<00:04:42.479> nightfall 00:04:43.469 --> 00:04:43.479 align:start position:0% burn at a very high level nightfall 00:04:43.479 --> 00:04:47.219 align:start position:0% burn at a very high level nightfall looks<00:04:44.349> like<00:04:44.650> this<00:04:44.830> and<00:04:45.389> so<00:04:46.389> you<00:04:46.509> if<00:04:46.840> you<00:04:47.110> would 00:04:47.219 --> 00:04:47.229 align:start position:0% looks like this and so you if you would 00:04:47.229 --> 00:04:49.800 align:start position:0% looks like this and so you if you would like<00:04:47.410> to<00:04:47.440> do<00:04:47.710> a<00:04:47.740> mint<00:04:48.250> or<00:04:48.460> a<00:04:48.520> transfer<00:04:49.240> or<00:04:49.389> a 00:04:49.800 --> 00:04:49.810 align:start position:0% like to do a mint or a transfer or a 00:04:49.810 --> 00:04:51.719 align:start position:0% like to do a mint or a transfer or a burn<00:04:50.080> of<00:04:50.289> a<00:04:50.410> token<00:04:50.740> or<00:04:50.800> a<00:04:50.860> token<00:04:51.099> commitment 00:04:51.719 --> 00:04:51.729 align:start position:0% burn of a token or a token commitment 00:04:51.729 --> 00:04:54.540 align:start position:0% burn of a token or a token commitment you<00:04:52.330> have<00:04:52.570> to<00:04:52.750> generate<00:04:52.930> a<00:04:53.139> proof<00:04:53.590> a<00:04:53.770> Zika 00:04:54.540 --> 00:04:54.550 align:start position:0% you have to generate a proof a Zika 00:04:54.550 --> 00:04:57.779 align:start position:0% you have to generate a proof a Zika proof<00:04:54.820> of<00:04:55.090> chain<00:04:55.630> and<00:04:56.530> and<00:04:56.889> it's<00:04:57.310> done<00:04:57.610> in<00:04:57.699> your 00:04:57.779 --> 00:04:57.789 align:start position:0% proof of chain and and it's done in your 00:04:57.789 --> 00:05:01.080 align:start position:0% proof of chain and and it's done in your local<00:04:58.180> server<00:04:58.830> but<00:04:59.830> also<00:05:00.070> it<00:05:00.400> your<00:05:00.729> local 00:05:01.080 --> 00:05:01.090 align:start position:0% local server but also it your local 00:05:01.090 --> 00:05:02.700 align:start position:0% local server but also it your local server<00:05:01.300> also<00:05:01.539> holds<00:05:02.110> their<00:05:02.289> private 00:05:02.700 --> 00:05:02.710 align:start position:0% server also holds their private 00:05:02.710 --> 00:05:05.490 align:start position:0% server also holds their private information<00:05:03.220> that<00:05:03.250> is<00:05:03.789> required<00:05:04.570> to<00:05:05.080> do<00:05:05.289> these 00:05:05.490 --> 00:05:05.500 align:start position:0% information that is required to do these 00:05:05.500 --> 00:05:09.180 align:start position:0% information that is required to do these transit<00:05:06.039> proof<00:05:06.699> generation<00:05:07.240> as<00:05:07.360> well<00:05:08.039> but<00:05:09.039> the 00:05:09.180 --> 00:05:09.190 align:start position:0% transit proof generation as well but the 00:05:09.190 --> 00:05:11.730 align:start position:0% transit proof generation as well but the off<00:05:09.340> chain<00:05:09.699> server<00:05:10.090> now<00:05:10.960> will<00:05:11.380> have<00:05:11.590> to 00:05:11.730 --> 00:05:11.740 align:start position:0% off chain server now will have to 00:05:11.740 --> 00:05:13.409 align:start position:0% off chain server now will have to interact<00:05:11.979> with<00:05:12.460> something<00:05:12.759> called<00:05:13.060> a<00:05:13.180> shield 00:05:13.409 --> 00:05:13.419 align:start position:0% interact with something called a shield 00:05:13.419 --> 00:05:15.930 align:start position:0% interact with something called a shield contract<00:05:14.080> to<00:05:14.470> make<00:05:14.650> these<00:05:14.889> proofs<00:05:15.250> happen<00:05:15.729> on 00:05:15.930 --> 00:05:15.940 align:start position:0% contract to make these proofs happen on 00:05:15.940 --> 00:05:18.779 align:start position:0% contract to make these proofs happen on chain<00:05:16.530> shield<00:05:17.530> contract<00:05:18.130> acts<00:05:18.400> as<00:05:18.669> an 00:05:18.779 --> 00:05:18.789 align:start position:0% chain shield contract acts as an 00:05:18.789 --> 00:05:21.089 align:start position:0% chain shield contract acts as an interface<00:05:19.060> and<00:05:19.660> if<00:05:19.870> it<00:05:20.110> does<00:05:20.349> multiple<00:05:20.800> jobs 00:05:21.089 --> 00:05:21.099 align:start position:0% interface and if it does multiple jobs 00:05:21.099 --> 00:05:22.980 align:start position:0% interface and if it does multiple jobs but<00:05:21.310> it<00:05:21.400> also<00:05:21.580> talks<00:05:21.970> to<00:05:22.120> various<00:05:22.449> kinds<00:05:22.870> of 00:05:22.980 --> 00:05:22.990 align:start position:0% but it also talks to various kinds of 00:05:22.990 --> 00:05:25.740 align:start position:0% but it also talks to various kinds of contracts<00:05:23.530> most<00:05:24.520> importantly<00:05:25.150> being<00:05:25.389> the<00:05:25.539> ERC 00:05:25.740 --> 00:05:25.750 align:start position:0% contracts most importantly being the ERC 00:05:25.750 --> 00:05:30.210 align:start position:0% contracts most importantly being the ERC 20<00:05:26.199> in<00:05:26.289> ER<00:05:26.530> c<00:05:26.680> 7<00:05:26.919> 21<00:05:27.190> standard<00:05:27.789> contracts<00:05:29.220> so 00:05:30.210 --> 00:05:30.220 align:start position:0% 20 in ER c 7 21 standard contracts so 00:05:30.220 --> 00:05:32.700 align:start position:0% 20 in ER c 7 21 standard contracts so when<00:05:30.430> you'd<00:05:30.550> like<00:05:30.729> to<00:05:30.789> mint<00:05:31.270> or<00:05:31.530> transfer<00:05:32.530> or 00:05:32.700 --> 00:05:32.710 align:start position:0% when you'd like to mint or transfer or 00:05:32.710 --> 00:05:35.279 align:start position:0% when you'd like to mint or transfer or burn<00:05:33.180> what<00:05:34.180> you<00:05:34.300> would<00:05:34.419> have<00:05:34.570> to<00:05:34.720> do<00:05:34.810> is<00:05:34.930> create 00:05:35.279 --> 00:05:35.289 align:start position:0% burn what you would have to do is create 00:05:35.289 --> 00:05:37.230 align:start position:0% burn what you would have to do is create a<00:05:35.349> proof<00:05:35.620> of<00:05:35.800> chain<00:05:36.159> give<00:05:36.699> it<00:05:36.820> to<00:05:36.909> the<00:05:37.000> shield 00:05:37.230 --> 00:05:37.240 align:start position:0% a proof of chain give it to the shield 00:05:37.240 --> 00:05:40.499 align:start position:0% a proof of chain give it to the shield contract<00:05:37.780> shield<00:05:38.500> contract<00:05:39.070> will<00:05:39.280> then<00:05:39.639> on 00:05:40.499 --> 00:05:40.509 align:start position:0% contract shield contract will then on 00:05:40.509 --> 00:05:43.379 align:start position:0% contract shield contract will then on mint<00:05:40.960> escrow<00:05:41.710> your<00:05:41.889> token<00:05:42.460> or<00:05:42.610> on<00:05:43.060> burn 00:05:43.379 --> 00:05:43.389 align:start position:0% mint escrow your token or on burn 00:05:43.389 --> 00:05:46.800 align:start position:0% mint escrow your token or on burn release<00:05:43.870> your<00:05:44.139> token<00:05:44.590> and<00:05:45.150> but<00:05:46.150> it<00:05:46.240> uses<00:05:46.509> these 00:05:46.800 --> 00:05:46.810 align:start position:0% release your token and but it uses these 00:05:46.810 --> 00:05:48.240 align:start position:0% release your token and but it uses these various<00:05:47.229> functions<00:05:47.770> within<00:05:47.949> shield 00:05:48.240 --> 00:05:48.250 align:start position:0% various functions within shield 00:05:48.250 --> 00:05:50.670 align:start position:0% various functions within shield contracts<00:05:48.909> in<00:05:49.150> order<00:05:49.509> to<00:05:49.630> do<00:05:49.840> that<00:05:50.050> these 00:05:50.670 --> 00:05:50.680 align:start position:0% contracts in order to do that these 00:05:50.680 --> 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verify<00:05:57.669> this<00:05:57.729> proof<00:05:58.210> and<00:05:58.479> shield<00:05:59.050> contract 00:05:59.580 --> 00:05:59.590 align:start position:0% to verify this proof and shield contract 00:05:59.590 --> 00:06:01.890 align:start position:0% to verify this proof and shield contract will<00:05:59.770> then<00:05:59.979> call<00:06:00.280> a<00:06:00.460> verifier<00:06:00.969> contract<00:06:01.630> and 00:06:01.890 --> 00:06:01.900 align:start position:0% will then call a verifier contract and 00:06:01.900 --> 00:06:03.749 align:start position:0% will then call a verifier contract and the<00:06:02.380> verify<00:06:02.710> function<00:06:03.099> within<00:06:03.280> the<00:06:03.430> verifier 00:06:03.749 --> 00:06:03.759 align:start position:0% the verify function within the verifier 00:06:03.759 --> 00:06:06.120 align:start position:0% the verify function within the verifier contracts<00:06:04.389> to<00:06:04.509> verify<00:06:04.900> these<00:06:04.960> proofs<00:06:05.530> on<00:06:05.860> a 00:06:06.120 --> 00:06:06.130 align:start position:0% contracts to verify these proofs on a 00:06:06.130 --> 00:06:09.629 align:start position:0% contracts to verify these proofs on a successful<00:06:06.789> verification<00:06:07.919> it<00:06:08.919> adds<00:06:09.280> these 00:06:09.629 --> 00:06:09.639 align:start position:0% successful verification it adds these 00:06:09.639 --> 00:06:11.580 align:start position:0% successful verification it adds these token<00:06:10.210> commitments<00:06:10.810> into<00:06:11.110> the<00:06:11.199> token 00:06:11.580 --> 00:06:11.590 align:start position:0% token commitments into the token 00:06:11.590 --> 00:06:13.800 align:start position:0% token commitments into the token commitment<00:06:12.099> cartman's<00:06:12.580> marquetry<00:06:13.120> there<00:06:13.690> are 00:06:13.800 --> 00:06:13.810 align:start position:0% commitment cartman's marquetry there are 00:06:13.810 --> 00:06:15.480 align:start position:0% commitment cartman's marquetry there are two<00:06:14.050> important<00:06:14.620> data<00:06:14.710> structures<00:06:15.219> in<00:06:15.370> the 00:06:15.480 --> 00:06:15.490 align:start position:0% two important data structures in the 00:06:15.490 --> 00:06:18.120 align:start position:0% two important data structures in the initial<00:06:15.880> contract<00:06:16.409> one<00:06:17.409> being<00:06:17.650> the<00:06:17.710> mercury 00:06:18.120 --> 00:06:18.130 align:start position:0% initial contract one being the mercury 00:06:18.130 --> 00:06:19.950 align:start position:0% initial contract one being the mercury that<00:06:18.280> holds<00:06:18.550> a<00:06:18.580> list<00:06:18.729> of<00:06:18.880> all<00:06:19.060> the<00:06:19.449> commitments 00:06:19.950 --> 00:06:19.960 align:start position:0% that holds a list of all the commitments 00:06:19.960 --> 00:06:22.290 align:start position:0% that holds a list of all the commitments created<00:06:20.440> and<00:06:20.620> the<00:06:21.340> other<00:06:21.460> being<00:06:21.759> a<00:06:21.849> nullifier 00:06:22.290 --> 00:06:22.300 align:start position:0% created and the other being a nullifier 00:06:22.300 --> 00:06:24.060 align:start position:0% created and the other being a nullifier which<00:06:22.570> holds<00:06:22.870> a<00:06:22.930> list<00:06:23.080> of<00:06:23.320> all<00:06:23.620> the 00:06:24.060 --> 00:06:24.070 align:start position:0% which holds a list of all the 00:06:24.070 --> 00:06:26.519 align:start position:0% which holds a list of all the commitments<00:06:24.520> that<00:06:24.580> have<00:06:24.820> been<00:06:25.029> spent<00:06:25.389> in<00:06:25.599> such 00:06:26.519 --> 00:06:26.529 align:start position:0% commitments that have been spent in such 00:06:26.529 --> 00:06:29.020 align:start position:0% commitments that have been spent in such a<00:06:26.560> way<00:06:26.800> that<00:06:26.830> you<00:06:27.159> can't<00:06:27.539> associate<00:06:28.539> a<00:06:28.570> commit 00:06:29.020 --> 00:06:29.030 align:start position:0% a way that you can't associate a commit 00:06:29.030 --> 00:06:31.060 align:start position:0% a way that you can't associate a commit with<00:06:29.300> its<00:06:29.450> nullifier<00:06:29.960> or<00:06:30.290> whichever<00:06:30.620> has<00:06:30.860> been 00:06:31.060 --> 00:06:31.070 align:start position:0% with its nullifier or whichever has been 00:06:31.070 --> 00:06:37.120 align:start position:0% with its nullifier or whichever has been spent<00:06:34.360> yes<00:06:35.360> so<00:06:35.690> if<00:06:35.870> we<00:06:36.020> take<00:06:36.200> a<00:06:36.260> look<00:06:36.530> deeper 00:06:37.120 --> 00:06:37.130 align:start position:0% spent yes so if we take a look deeper 00:06:37.130 --> 00:06:39.970 align:start position:0% spent yes so if we take a look deeper into<00:06:37.580> how<00:06:37.940> the<00:06:38.000> process<00:06:38.450> works<00:06:38.780> for<00:06:39.140> first<00:06:39.800> in 00:06:39.970 --> 00:06:39.980 align:start position:0% into how the process works for first in 00:06:39.980 --> 00:06:42.970 align:start position:0% into how the process works for first in ER<00:06:40.250> C<00:06:40.460> 721<00:06:41.120> token<00:06:41.690> so<00:06:42.350> first<00:06:42.590> let's<00:06:42.770> suppose 00:06:42.970 --> 00:06:42.980 align:start position:0% ER C 721 token so first let's suppose 00:06:42.980 --> 00:06:47.050 align:start position:0% ER C 721 token so first let's suppose Alice<00:06:43.340> a<00:06:43.700> user<00:06:44.030> of<00:06:44.330> an<00:06:44.660> ER<00:06:45.200> C<00:06:45.380> contract<00:06:45.920> owns<00:06:46.550> a 00:06:47.050 --> 00:06:47.060 align:start position:0% Alice a user of an ER C contract owns a 00:06:47.060 --> 00:06:49.300 align:start position:0% Alice a user of an ER C contract owns a token<00:06:47.570> T<00:06:47.840> okay<00:06:48.560> and<00:06:48.710> she<00:06:48.800> wants<00:06:49.010> to<00:06:49.100> make<00:06:49.190> this 00:06:49.300 --> 00:06:49.310 align:start position:0% token T okay and she wants to make this 00:06:49.310 --> 00:06:50.470 align:start position:0% token T okay and she wants to make this private<00:06:49.580> she<00:06:49.850> wants<00:06:50.060> to<00:06:50.150> start<00:06:50.390> doing 00:06:50.470 --> 00:06:50.480 align:start position:0% private she wants to start doing 00:06:50.480 --> 00:06:53.560 align:start position:0% private she wants to start doing transactions<00:06:51.230> under<00:06:51.500> zero<00:06:51.710> knowledge<00:06:51.970> so<00:06:52.970> she 00:06:53.560 --> 00:06:53.570 align:start position:0% transactions under zero knowledge so she 00:06:53.570 --> 00:06:55.030 align:start position:0% transactions under zero knowledge so she will<00:06:53.690> invoke<00:06:53.990> the<00:06:54.230> mint<00:06:54.440> function<00:06:54.890> which 00:06:55.030 --> 00:06:55.040 align:start position:0% will invoke the mint function which 00:06:55.040 --> 00:06:57.190 align:start position:0% will invoke the mint function which nightfall<00:06:55.460> exposes<00:06:56.060> and<00:06:56.300> that<00:06:56.810> will<00:06:56.930> first 00:06:57.190 --> 00:06:57.200 align:start position:0% nightfall exposes and that will first 00:06:57.200 --> 00:06:58.960 align:start position:0% nightfall exposes and that will first give<00:06:57.500> the<00:06:57.650> she'll<00:06:57.860> contract<00:06:58.370> custody<00:06:58.760> of<00:06:58.850> her 00:06:58.960 --> 00:06:58.970 align:start position:0% give the she'll contract custody of her 00:06:58.970 --> 00:07:02.230 align:start position:0% give the she'll contract custody of her token<00:06:59.420> and<00:06:59.920> Alice<00:07:00.920> will<00:07:01.070> also<00:07:01.460> say<00:07:01.700> here<00:07:02.090> is<00:07:02.210> a 00:07:02.230 --> 00:07:02.240 align:start position:0% token and Alice will also say here is a 00:07:02.240 --> 00:07:04.480 align:start position:0% token and Alice will also say here is a commitment<00:07:02.780> which<00:07:03.200> hides<00:07:03.590> the<00:07:03.860> token<00:07:04.220> hides 00:07:04.480 --> 00:07:04.490 align:start position:0% commitment which hides the token hides 00:07:04.490 --> 00:07:06.310 align:start position:0% commitment which hides the token hides the<00:07:04.670> underlying<00:07:05.090> details<00:07:05.510> of<00:07:05.720> the<00:07:05.810> asset<00:07:06.170> and 00:07:06.310 --> 00:07:06.320 align:start position:0% the underlying details of the asset and 00:07:06.320 --> 00:07:08.950 align:start position:0% the underlying details of the asset and binds<00:07:07.100> Alice<00:07:07.430> as<00:07:07.670> the<00:07:07.850> owner<00:07:08.090> of<00:07:08.360> that<00:07:08.540> asset 00:07:08.950 --> 00:07:08.960 align:start position:0% binds Alice as the owner of that asset 00:07:08.960 --> 00:07:10.930 align:start position:0% binds Alice as the owner of that asset and<00:07:09.230> all<00:07:09.590> people<00:07:09.950> all<00:07:10.160> other<00:07:10.340> observers<00:07:10.850> of 00:07:10.930 --> 00:07:10.940 align:start position:0% and all people all other observers of 00:07:10.940 --> 00:07:12.130 align:start position:0% and all people all other observers of the<00:07:11.030> blockchain<00:07:11.240> will<00:07:11.510> see<00:07:11.660> is<00:07:11.720> just<00:07:11.930> a<00:07:11.990> random 00:07:12.130 --> 00:07:12.140 align:start position:0% the blockchain will see is just a random 00:07:12.140 --> 00:07:13.420 align:start position:0% the blockchain will see is just a random number<00:07:12.380> they<00:07:12.620> won't<00:07:12.770> be<00:07:12.860> able<00:07:12.950> to<00:07:13.100> interpret 00:07:13.420 --> 00:07:13.430 align:start position:0% number they won't be able to interpret 00:07:13.430 --> 00:07:16.530 align:start position:0% number they won't be able to interpret thereafter<00:07:14.090> what<00:07:15.020> these<00:07:15.170> commitments<00:07:15.500> matter 00:07:16.530 --> 00:07:16.540 align:start position:0% thereafter what these commitments matter 00:07:16.540 --> 00:07:19.360 align:start position:0% thereafter what these commitments matter so<00:07:17.540> they're<00:07:17.750> after<00:07:17.960> every<00:07:18.650> transfer<00:07:19.160> is 00:07:19.360 --> 00:07:19.370 align:start position:0% so they're after every transfer is 00:07:19.370 --> 00:07:21.250 align:start position:0% so they're after every transfer is private<00:07:19.820> no<00:07:19.970> one<00:07:20.120> knows<00:07:20.300> who<00:07:20.630> is<00:07:20.780> Sam<00:07:20.960> what<00:07:21.140> to 00:07:21.250 --> 00:07:21.260 align:start position:0% private no one knows who is Sam what to 00:07:21.260 --> 00:07:22.720 align:start position:0% private no one knows who is Sam what to whom<00:07:21.470> so<00:07:21.740> we<00:07:21.830> get<00:07:21.980> that<00:07:22.100> privacy<00:07:22.490> that 00:07:22.720 --> 00:07:22.730 align:start position:0% whom so we get that privacy that 00:07:22.730 --> 00:07:25.690 align:start position:0% whom so we get that privacy that businesses<00:07:23.180> need<00:07:23.530> and<00:07:24.530> crucially<00:07:25.070> the<00:07:25.100> Merkel 00:07:25.690 --> 00:07:25.700 align:start position:0% businesses need and crucially the Merkel 00:07:25.700 --> 00:07:27.610 align:start position:0% businesses need and crucially the Merkel tree<00:07:25.910> within<00:07:26.210> the<00:07:26.330> shield<00:07:26.540> contract<00:07:27.050> the 00:07:27.610 --> 00:07:27.620 align:start position:0% tree within the shield contract the 00:07:27.620 --> 00:07:29.110 align:start position:0% tree within the shield contract the leaves<00:07:27.800> of<00:07:27.980> which<00:07:28.160> hold<00:07:28.460> all<00:07:28.730> these<00:07:28.850> tokens 00:07:29.110 --> 00:07:29.120 align:start position:0% leaves of which hold all these tokens 00:07:29.120 --> 00:07:31.480 align:start position:0% leaves of which hold all these tokens we've<00:07:30.020> made<00:07:30.260> big<00:07:30.560> so<00:07:30.830> we've<00:07:30.950> given<00:07:31.130> a<00:07:31.250> huge 00:07:31.480 --> 00:07:31.490 align:start position:0% we've made big so we've given a huge 00:07:31.490 --> 00:07:34.180 align:start position:0% we've made big so we've given a huge anon<00:07:31.790> in<00:07:31.820> anonymity<00:07:32.780> set<00:07:33.140> of<00:07:33.530> about<00:07:33.800> four 00:07:34.180 --> 00:07:34.190 align:start position:0% anon in anonymity set of about four 00:07:34.190 --> 00:07:36.940 align:start position:0% anon in anonymity set of about four billion<00:07:34.490> and<00:07:34.820> so<00:07:35.540> that's<00:07:35.720> the<00:07:35.870> 32<00:07:36.320> deep<00:07:36.530> Merkel 00:07:36.940 --> 00:07:36.950 align:start position:0% billion and so that's the 32 deep Merkel 00:07:36.950 --> 00:07:40.720 align:start position:0% billion and so that's the 32 deep Merkel tree<00:07:37.130> so<00:07:38.090> it's<00:07:38.210> really<00:07:38.600> important<00:07:39.140> and<00:07:39.730> again 00:07:40.720 --> 00:07:40.730 align:start position:0% tree so it's really important and again 00:07:40.730 --> 00:07:42.970 align:start position:0% tree so it's really important and again people<00:07:40.970> can<00:07:41.180> transfer<00:07:41.720> transfer<00:07:42.560> no<00:07:42.860> one 00:07:42.970 --> 00:07:42.980 align:start position:0% people can transfer transfer no one 00:07:42.980 --> 00:07:44.950 align:start position:0% people can transfer transfer no one learns<00:07:43.220> who<00:07:43.460> assumed<00:07:43.760> what<00:07:43.970> to<00:07:44.090> whom<00:07:44.330> while 00:07:44.950 --> 00:07:44.960 align:start position:0% learns who assumed what to whom while 00:07:44.960 --> 00:07:46.420 align:start position:0% learns who assumed what to whom while these<00:07:45.110> commitments<00:07:45.710> are<00:07:45.800> being<00:07:45.980> sent<00:07:46.250> within 00:07:46.420 --> 00:07:46.430 align:start position:0% these commitments are being sent within 00:07:46.430 --> 00:07:48.550 align:start position:0% these commitments are being sent within the<00:07:46.610> shield<00:07:46.820> contract<00:07:47.330> if<00:07:47.750> at<00:07:48.050> some<00:07:48.080> point<00:07:48.290> in 00:07:48.550 --> 00:07:48.560 align:start position:0% the shield contract if at some point in 00:07:48.560 --> 00:07:50.590 align:start position:0% the shield contract if at some point in the<00:07:48.650> future<00:07:48.830> someone<00:07:49.280> wants<00:07:49.550> to<00:07:49.580> burn<00:07:50.000> their 00:07:50.590 --> 00:07:50.600 align:start position:0% the future someone wants to burn their 00:07:50.600 --> 00:07:52.840 align:start position:0% the future someone wants to burn their token<00:07:50.960> I<00:07:51.080> you<00:07:51.200> make<00:07:51.500> it<00:07:51.650> public<00:07:51.830> again<00:07:52.310> do 00:07:52.840 --> 00:07:52.850 align:start position:0% token I you make it public again do 00:07:52.850 --> 00:07:53.680 align:start position:0% token I you make it public again do something<00:07:53.210> else<00:07:53.390> with<00:07:53.510> it 00:07:53.680 --> 00:07:53.690 align:start position:0% something else with it 00:07:53.690 --> 00:07:55.330 align:start position:0% something else with it they<00:07:54.050> can<00:07:54.230> do<00:07:54.380> so<00:07:54.560> they<00:07:54.680> can<00:07:54.860> call<00:07:55.040> the<00:07:55.160> burn 00:07:55.330 --> 00:07:55.340 align:start position:0% they can do so they can call the burn 00:07:55.340 --> 00:07:57.580 align:start position:0% they can do so they can call the burn function<00:07:55.850> and<00:07:56.030> it<00:07:56.540> exposes<00:07:56.870> that<00:07:57.140> now<00:07:57.290> Bob 00:07:57.580 --> 00:07:57.590 align:start position:0% function and it exposes that now Bob 00:07:57.590 --> 00:08:01.210 align:start position:0% function and it exposes that now Bob owns<00:07:57.770> T<00:07:58.100> the<00:07:58.460> token<00:07:59.380> similar<00:08:00.380> thing<00:08:00.620> for<00:08:00.650> er<00:08:01.040> C 00:08:01.210 --> 00:08:01.220 align:start position:0% owns T the token similar thing for er C 00:08:01.220 --> 00:08:03.340 align:start position:0% owns T the token similar thing for er C 20<00:08:01.820> tokens<00:08:02.270> so<00:08:02.480> if<00:08:02.690> you<00:08:02.870> have<00:08:03.050> already 00:08:03.340 --> 00:08:03.350 align:start position:0% 20 tokens so if you have already 00:08:03.350 --> 00:08:05.980 align:start position:0% 20 tokens so if you have already deployed<00:08:03.620> an<00:08:03.920> ER<00:08:04.130> C<00:08:04.280> 20<00:08:04.610> contract<00:08:05.090> your<00:08:05.630> users 00:08:05.980 --> 00:08:05.990 align:start position:0% deployed an ER C 20 contract your users 00:08:05.990 --> 00:08:08.500 align:start position:0% deployed an ER C 20 contract your users can<00:08:06.080> use<00:08:06.440> a<00:08:06.470> shield<00:08:06.800> contract<00:08:07.370> to<00:08:07.910> make<00:08:08.210> those 00:08:08.500 --> 00:08:08.510 align:start position:0% can use a shield contract to make those 00:08:08.510 --> 00:08:11.020 align:start position:0% can use a shield contract to make those tokens<00:08:08.930> private<00:08:09.440> so<00:08:09.890> again<00:08:10.160> Alice<00:08:10.580> owns<00:08:10.760> some 00:08:11.020 --> 00:08:11.030 align:start position:0% tokens private so again Alice owns some 00:08:11.030 --> 00:08:13.870 align:start position:0% tokens private so again Alice owns some value<00:08:11.480> and<00:08:11.660> she<00:08:12.620> gives<00:08:12.830> the<00:08:13.040> shield<00:08:13.400> contract 00:08:13.870 --> 00:08:13.880 align:start position:0% value and she gives the shield contract 00:08:13.880 --> 00:08:16.420 align:start position:0% value and she gives the shield contract custody<00:08:14.300> of<00:08:14.390> that<00:08:14.540> value<00:08:14.810> in<00:08:14.930> tokens<00:08:15.350> it<00:08:16.010> mints 00:08:16.420 --> 00:08:16.430 align:start position:0% custody of that value in tokens it mints 00:08:16.430 --> 00:08:18.670 align:start position:0% custody of that value in tokens it mints a<00:08:16.520> commitment<00:08:17.030> and<00:08:17.540> because<00:08:17.960> of<00:08:18.110> the<00:08:18.260> non 00:08:18.670 --> 00:08:18.680 align:start position:0% a commitment and because of the non 00:08:18.680 --> 00:08:20.710 align:start position:0% a commitment and because of the non fungibility<00:08:19.160> of<00:08:19.490> putting<00:08:19.940> making<00:08:20.660> a 00:08:20.710 --> 00:08:20.720 align:start position:0% fungibility of putting making a 00:08:20.720 --> 00:08:22.000 align:start position:0% fungibility of putting making a commitment<00:08:20.930> it's<00:08:21.140> like<00:08:21.260> putting<00:08:21.650> money<00:08:21.740> in<00:08:21.920> an 00:08:22.000 --> 00:08:22.010 align:start position:0% commitment it's like putting money in an 00:08:22.010 --> 00:08:24.130 align:start position:0% commitment it's like putting money in an envelope<00:08:22.250> so<00:08:23.090> then<00:08:23.210> we<00:08:23.330> have<00:08:23.450> to<00:08:23.570> do<00:08:23.720> similar 00:08:24.130 --> 00:08:24.140 align:start position:0% envelope so then we have to do similar 00:08:24.140 --> 00:08:27.130 align:start position:0% envelope so then we have to do similar to<00:08:24.320> Z<00:08:24.470> cash<00:08:24.680> a<00:08:24.710> to<00:08:25.040> in<00:08:25.220> to<00:08:25.850> our<00:08:26.030> approach<00:08:26.420> where 00:08:27.130 --> 00:08:27.140 align:start position:0% to Z cash a to in to our approach where 00:08:27.140 --> 00:08:30.010 align:start position:0% to Z cash a to in to our approach where Alice<00:08:27.770> takes<00:08:28.010> two<00:08:28.190> of<00:08:28.220> her<00:08:28.370> tokens<00:08:29.020> transfers 00:08:30.010 --> 00:08:30.020 align:start position:0% Alice takes two of her tokens transfers 00:08:30.020 --> 00:08:32.110 align:start position:0% Alice takes two of her tokens transfers one<00:08:30.260> of<00:08:30.410> them<00:08:30.590> to<00:08:30.800> a<00:08:31.010> recipient<00:08:31.490> and<00:08:31.730> she<00:08:31.970> gets 00:08:32.110 --> 00:08:32.120 align:start position:0% one of them to a recipient and she gets 00:08:32.120 --> 00:08:34.450 align:start position:0% one of them to a recipient and she gets the<00:08:32.240> other<00:08:32.360> in<00:08:32.540> change<00:08:32.840> and<00:08:33.140> similarly<00:08:34.010> no<00:08:34.280> one 00:08:34.450 --> 00:08:34.460 align:start position:0% the other in change and similarly no one 00:08:34.460 --> 00:08:36.220 align:start position:0% the other in change and similarly no one learns<00:08:34.700> who<00:08:34.940> is<00:08:35.060> sending<00:08:35.270> what<00:08:35.540> to<00:08:35.720> whom<00:08:35.960> in 00:08:36.220 --> 00:08:36.230 align:start position:0% learns who is sending what to whom in 00:08:36.230 --> 00:08:39.280 align:start position:0% learns who is sending what to whom in this<00:08:36.680> process<00:08:37.220> and<00:08:37.630> finally<00:08:38.630> if<00:08:38.960> someone 00:08:39.280 --> 00:08:39.290 align:start position:0% this process and finally if someone 00:08:39.290 --> 00:08:40.720 align:start position:0% this process and finally if someone wants<00:08:39.470> to<00:08:39.500> retrieve<00:08:39.710> their<00:08:39.980> token<00:08:40.310> they<00:08:40.580> can 00:08:40.720 --> 00:08:40.730 align:start position:0% wants to retrieve their token they can 00:08:40.730 --> 00:08:43.949 align:start position:0% wants to retrieve their token they can do<00:08:40.880> so<00:08:41.060> at<00:08:41.180> the<00:08:41.270> end 00:08:43.949 --> 00:08:43.959 align:start position:0% 00:08:43.959 --> 00:08:45.960 align:start position:0% now<00:08:44.440> there<00:08:44.709> have<00:08:44.800> been<00:08:44.829> a<00:08:44.920> lot<00:08:45.130> of<00:08:45.190> talks<00:08:45.430> on<00:08:45.610> ZK 00:08:45.960 --> 00:08:45.970 align:start position:0% now there have been a lot of talks on ZK 00:08:45.970 --> 00:08:47.190 align:start position:0% now there have been a lot of talks on ZK snark<00:08:46.300> so<00:08:46.450> we're<00:08:46.570> not<00:08:46.630> going<00:08:46.750> to<00:08:46.810> go<00:08:46.899> into<00:08:47.079> much 00:08:47.190 --> 00:08:47.200 align:start position:0% snark so we're not going to go into much 00:08:47.200 --> 00:08:48.540 align:start position:0% snark so we're not going to go into much detail<00:08:47.230> on<00:08:47.589> how<00:08:47.860> they<00:08:48.010> work<00:08:48.220> there<00:08:48.399> was<00:08:48.490> a 00:08:48.540 --> 00:08:48.550 align:start position:0% detail on how they work there was a 00:08:48.550 --> 00:08:50.069 align:start position:0% detail on how they work there was a really<00:08:48.790> great<00:08:49.029> track<00:08:49.269> yesterday<00:08:49.510> on<00:08:49.779> how<00:08:49.930> they 00:08:50.069 --> 00:08:50.079 align:start position:0% really great track yesterday on how they 00:08:50.079 --> 00:08:53.040 align:start position:0% really great track yesterday on how they work<00:08:50.260> and<00:08:50.470> but<00:08:51.160> crucially<00:08:51.610> an<00:08:52.050> ordinary 00:08:53.040 --> 00:08:53.050 align:start position:0% work and but crucially an ordinary 00:08:53.050 --> 00:08:55.199 align:start position:0% work and but crucially an ordinary computation<00:08:53.560> on<00:08:53.649> the<00:08:53.709> EVM<00:08:54.070> you<00:08:54.550> pass<00:08:54.790> inputs 00:08:55.199 --> 00:08:55.209 align:start position:0% computation on the EVM you pass inputs 00:08:55.209 --> 00:08:56.639 align:start position:0% computation on the EVM you pass inputs to<00:08:55.300> the<00:08:55.390> computation<00:08:55.990> and<00:08:56.170> it's<00:08:56.290> done<00:08:56.470> on<00:08:56.529> the 00:08:56.639 --> 00:08:56.649 align:start position:0% to the computation and it's done on the 00:08:56.649 --> 00:08:59.190 align:start position:0% to the computation and it's done on the EVM<00:08:56.980> all<00:08:57.190> the<00:08:57.370> inputs<00:08:57.700> are<00:08:57.820> public<00:08:58.149> but<00:08:58.899> some 00:08:59.190 --> 00:08:59.200 align:start position:0% EVM all the inputs are public but some 00:08:59.200 --> 00:09:00.750 align:start position:0% EVM all the inputs are public but some of<00:08:59.320> our<00:08:59.440> inputs<00:08:59.740> we<00:08:59.890> want<00:09:00.070> to<00:09:00.160> be<00:09:00.279> private<00:09:00.459> such 00:09:00.750 --> 00:09:00.760 align:start position:0% of our inputs we want to be private such 00:09:00.760 --> 00:09:03.509 align:start position:0% of our inputs we want to be private such as<00:09:00.910> our<00:09:01.089> secret<00:09:01.959> key<00:09:02.200> what<00:09:02.529> the<00:09:02.649> asset<00:09:03.040> is<00:09:03.220> who 00:09:03.509 --> 00:09:03.519 align:start position:0% as our secret key what the asset is who 00:09:03.519 --> 00:09:05.639 align:start position:0% as our secret key what the asset is who we<00:09:03.670> are<00:09:03.820> and<00:09:04.120> so<00:09:04.660> what<00:09:04.779> we<00:09:04.899> can<00:09:04.930> do<00:09:05.200> is<00:09:05.410> we<00:09:05.560> can 00:09:05.639 --> 00:09:05.649 align:start position:0% we are and so what we can do is we can 00:09:05.649 --> 00:09:08.759 align:start position:0% we are and so what we can do is we can generate<00:09:05.980> a<00:09:06.040> proof<00:09:06.420> and<00:09:07.420> we<00:09:08.050> pass<00:09:08.260> that<00:09:08.470> proof 00:09:08.759 --> 00:09:08.769 align:start position:0% generate a proof and we pass that proof 00:09:08.769 --> 00:09:10.290 align:start position:0% generate a proof and we pass that proof to<00:09:08.890> the<00:09:08.980> blockchain<00:09:09.190> and<00:09:09.550> the<00:09:09.850> proof<00:09:10.120> just 00:09:10.290 --> 00:09:10.300 align:start position:0% to the blockchain and the proof just 00:09:10.300 --> 00:09:12.090 align:start position:0% to the blockchain and the proof just looks<00:09:10.540> like<00:09:10.720> random<00:09:11.140> gibberish<00:09:11.560> numbers<00:09:11.980> to 00:09:12.090 --> 00:09:12.100 align:start position:0% looks like random gibberish numbers to 00:09:12.100 --> 00:09:14.550 align:start position:0% looks like random gibberish numbers to outside<00:09:12.459> observers<00:09:12.970> but<00:09:13.899> crucially<00:09:14.350> through 00:09:14.550 --> 00:09:14.560 align:start position:0% outside observers but crucially through 00:09:14.560 --> 00:09:16.470 align:start position:0% outside observers but crucially through ZK<00:09:14.890> snarks<00:09:15.220> these<00:09:15.399> can<00:09:15.550> be<00:09:15.640> verified<00:09:15.880> as<00:09:16.269> true 00:09:16.470 --> 00:09:16.480 align:start position:0% ZK snarks these can be verified as true 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based<00:09:34.240> architecture 00:09:35.040 --> 00:09:35.050 align:start position:0% it's a microservices based architecture 00:09:35.050 --> 00:09:38.250 align:start position:0% it's a microservices based architecture at<00:09:35.860> a<00:09:36.010> very<00:09:36.220> high<00:09:36.459> level<00:09:36.490> you<00:09:37.209> have<00:09:37.450> a<00:09:37.690> PGA<00:09:38.050> Tour 00:09:38.250 --> 00:09:38.260 align:start position:0% at a very high level you have a PGA Tour 00:09:38.260 --> 00:09:40.139 align:start position:0% at a very high level you have a PGA Tour micro<00:09:38.589> service<00:09:38.950> which<00:09:39.430> acts<00:09:39.700> as<00:09:40.000> an 00:09:40.139 --> 00:09:40.149 align:start position:0% micro service which acts as an 00:09:40.149 --> 00:09:41.370 align:start position:0% micro service which acts as an authentication<00:09:40.690> as<00:09:40.930> well<00:09:41.110> as<00:09:41.260> an 00:09:41.370 --> 00:09:41.380 align:start position:0% authentication as well as an 00:09:41.380 --> 00:09:43.680 align:start position:0% authentication as well as an orchestration<00:09:41.920> layer<00:09:42.130> and<00:09:42.640> which<00:09:43.480> in<00:09:43.660> turn 00:09:43.680 --> 00:09:43.690 align:start position:0% orchestration layer and which in turn 00:09:43.690 --> 00:09:45.990 align:start position:0% orchestration layer and which in turn speaks<00:09:44.410> to<00:09:44.560> the<00:09:44.649> downstream<00:09:45.100> micro<00:09:45.519> services 00:09:45.990 --> 00:09:46.000 align:start position:0% speaks to the downstream micro services 00:09:46.000 --> 00:09:48.840 align:start position:0% speaks to the downstream micro services being<00:09:46.899> off<00:09:47.170> trains<00:09:47.470> zkp<00:09:48.070> accounts<00:09:48.699> and 00:09:48.840 --> 00:09:48.850 align:start position:0% being off trains zkp accounts and 00:09:48.850 --> 00:09:51.689 align:start position:0% being off trains zkp accounts and database<00:09:49.410> what<00:09:50.410> option<00:09:50.890> micro<00:09:51.190> service<00:09:51.459> lets 00:09:51.689 --> 00:09:51.699 align:start position:0% database what option micro service lets 00:09:51.699 --> 00:09:55.710 align:start position:0% database what option micro service lets you<00:09:51.850> do<00:09:52.089> is<00:09:52.360> talk<00:09:53.260> to<00:09:53.880> various<00:09:54.880> parties<00:09:55.480> off 00:09:55.710 --> 00:09:55.720 align:start position:0% you do is talk to various parties off 00:09:55.720 --> 00:09:57.689 align:start position:0% you do is talk to various parties off chain<00:09:56.470> without<00:09:56.800> no<00:09:57.010> information<00:09:57.519> being 00:09:57.689 --> 00:09:57.699 align:start position:0% chain without no information being 00:09:57.699 --> 00:10:00.980 align:start position:0% chain without no information being recorded<00:09:58.000> on<00:09:58.240> it<00:09:59.110> such<00:09:59.680> as<00:09:59.800> ATM<00:10:00.130> communication 00:10:00.980 --> 00:10:00.990 align:start position:0% recorded on it such as ATM communication 00:10:00.990 --> 00:10:03.689 align:start position:0% recorded on it such as ATM communication and<00:10:01.990> the<00:10:02.529> kind<00:10:02.769> of<00:10:02.860> information<00:10:03.130> that<00:10:03.430> you'd 00:10:03.689 --> 00:10:03.699 align:start position:0% and the kind of information that you'd 00:10:03.699 --> 00:10:05.579 align:start position:0% and the kind of information that you'd like<00:10:03.850> to<00:10:03.910> transfer<00:10:04.570> off<00:10:04.750> chain<00:10:05.079> is<00:10:05.320> the 00:10:05.579 --> 00:10:05.589 align:start position:0% like to transfer off chain is the 00:10:05.589 --> 00:10:07.199 align:start position:0% like to transfer off chain is the private<00:10:06.070> information<00:10:06.670> that<00:10:06.820> you'd<00:10:06.970> like<00:10:07.149> to 00:10:07.199 --> 00:10:07.209 align:start position:0% private information that you'd like to 00:10:07.209 --> 00:10:10.380 align:start position:0% private information that you'd like to keep<00:10:07.540> from<00:10:07.870> being<00:10:08.740> visible<00:10:08.949> on<00:10:09.220> aetherium<00:10:09.850> but 00:10:10.380 --> 00:10:10.390 align:start position:0% keep from being visible on aetherium but 00:10:10.390 --> 00:10:12.960 align:start position:0% keep from being visible on aetherium but for<00:10:10.690> example<00:10:10.779> a<00:10:11.170> recipient<00:10:11.380> of<00:10:12.010> a<00:10:12.430> token<00:10:12.790> has 00:10:12.960 --> 00:10:12.970 align:start position:0% for example a recipient of a token has 00:10:12.970 --> 00:10:15.030 align:start position:0% for example a recipient of a token has to<00:10:13.180> know<00:10:13.269> in<00:10:13.390> order<00:10:13.540> to<00:10:13.660> access<00:10:14.140> his<00:10:14.769> token 00:10:15.030 --> 00:10:15.040 align:start position:0% to know in order to access his token 00:10:15.040 --> 00:10:16.920 align:start position:0% to know in order to access his token commitments<00:10:15.760> so<00:10:16.240> that<00:10:16.420> kind<00:10:16.630> of<00:10:16.660> information 00:10:16.920 --> 00:10:16.930 align:start position:0% commitments so that kind of information 00:10:16.930 --> 00:10:19.259 align:start position:0% commitments so that kind of information you<00:10:17.290> you<00:10:17.740> communicate<00:10:18.279> off<00:10:18.490> chain<00:10:18.820> using 00:10:19.259 --> 00:10:19.269 align:start position:0% you you communicate off chain using 00:10:19.269 --> 00:10:22.280 align:start position:0% you you communicate off chain using swarm<00:10:19.660> part<00:10:20.649> of<00:10:20.740> the<00:10:20.829> etherium<00:10:21.190> stack<00:10:21.459> and 00:10:22.280 --> 00:10:22.290 align:start position:0% swarm part of the etherium stack and 00:10:22.290 --> 00:10:25.050 align:start position:0% swarm part of the etherium stack and accounts<00:10:23.290> micro<00:10:23.620> service<00:10:24.040> lets<00:10:24.610> you<00:10:24.850> create 00:10:25.050 --> 00:10:25.060 align:start position:0% accounts micro service lets you create 00:10:25.060 --> 00:10:26.610 align:start position:0% accounts micro service lets you create accounts<00:10:25.990> on<00:10:26.079> the<00:10:26.199> fly 00:10:26.610 --> 00:10:26.620 align:start position:0% accounts on the fly 00:10:26.620 --> 00:10:28.590 align:start position:0% accounts on the fly it's<00:10:26.709> um<00:10:27.010> account<00:10:27.339> standard<00:10:27.880> accounts<00:10:28.269> in 00:10:28.590 --> 00:10:28.600 align:start position:0% it's um account standard accounts in 00:10:28.600 --> 00:10:31.530 align:start position:0% it's um account standard accounts in order<00:10:28.810> to<00:10:29.019> do<00:10:29.170> mint<00:10:29.649> sprint<00:10:30.040> or<00:10:30.279> transfer<00:10:30.910> as 00:10:31.530 --> 00:10:31.540 align:start position:0% order to do mint sprint or transfer as 00:10:31.540 --> 00:10:34.259 align:start position:0% order to do mint sprint or transfer as and<00:10:31.779> when<00:10:31.899> required<00:10:32.459> the<00:10:33.459> database<00:10:33.880> micro 00:10:34.259 --> 00:10:34.269 align:start position:0% and when required the database micro 00:10:34.269 --> 00:10:37.860 align:start position:0% and when required the database micro service<00:10:34.660> talks<00:10:35.529> to<00:10:35.910> MongoDB<00:10:36.910> database<00:10:37.029> and<00:10:37.660> it 00:10:37.860 --> 00:10:37.870 align:start position:0% service talks to MongoDB database and it 00:10:37.870 --> 00:10:39.750 align:start position:0% service talks to MongoDB database and it stores<00:10:38.410> both<00:10:38.920> public<00:10:39.519> and<00:10:39.670> private 00:10:39.750 --> 00:10:39.760 align:start position:0% stores both public and private 00:10:39.760 --> 00:10:42.060 align:start position:0% stores both public and private information<00:10:40.329> that<00:10:40.990> you're<00:10:41.560> using<00:10:41.829> in<00:10:42.040> your 00:10:42.060 --> 00:10:42.070 align:start position:0% information that you're using in your 00:10:42.070 --> 00:10:43.680 align:start position:0% information that you're using in your proof<00:10:42.519> generation<00:10:43.209> and<00:10:43.420> in<00:10:43.570> your 00:10:43.680 --> 00:10:43.690 align:start position:0% proof generation and in your 00:10:43.690 --> 00:10:45.990 align:start position:0% proof generation and in your verification<00:10:44.410> for<00:10:44.920> various<00:10:45.220> transactions 00:10:45.990 --> 00:10:46.000 align:start position:0% verification for various transactions 00:10:46.000 --> 00:10:48.420 align:start position:0% verification for various transactions and<00:10:46.240> this<00:10:46.750> will<00:10:46.930> be<00:10:47.050> user<00:10:47.430> specific 00:10:48.420 --> 00:10:48.430 align:start position:0% and this will be user specific 00:10:48.430 --> 00:10:49.889 align:start position:0% and this will be user specific information<00:10:48.730> that<00:10:49.209> you're<00:10:49.480> storing<00:10:49.720> in 00:10:49.889 --> 00:10:49.899 align:start position:0% information that you're storing in 00:10:49.899 --> 00:10:53.660 align:start position:0% information that you're storing in MongoDB<00:10:51.089> I'll<00:10:52.089> talk<00:10:52.300> about<00:10:52.329> zkp<00:10:53.020> in<00:10:53.140> a<00:10:53.230> second 00:10:53.660 --> 00:10:53.670 align:start position:0% MongoDB I'll talk about zkp in a second 00:10:53.670 --> 00:10:55.500 align:start position:0% MongoDB I'll talk about zkp in a second but<00:10:54.670> all<00:10:54.880> of<00:10:55.120> these 00:10:55.500 --> 00:10:55.510 align:start position:0% but all of these 00:10:55.510 --> 00:10:57.389 align:start position:0% but all of these all<00:10:55.779> of<00:10:55.930> these<00:10:56.019> micro-services<00:10:56.680> can<00:10:56.949> then<00:10:57.190> be 00:10:57.389 --> 00:10:57.399 align:start position:0% all of these micro-services can then be 00:10:57.399 --> 00:10:59.850 align:start position:0% all of these micro-services can then be exposed<00:10:57.940> to<00:10:58.420> whatever<00:10:58.690> sort<00:10:59.170> of<00:10:59.290> front<00:10:59.709> and 00:10:59.850 --> 00:10:59.860 align:start position:0% exposed to whatever sort of front and 00:10:59.860 --> 00:11:01.829 align:start position:0% exposed to whatever sort of front and interface<00:11:00.220> your<00:11:00.430> life<00:11:00.639> nightfall<00:11:01.480> currently 00:11:01.829 --> 00:11:01.839 align:start position:0% interface your life nightfall currently 00:11:01.839 --> 00:11:03.780 align:start position:0% interface your life nightfall currently has<00:11:01.990> a<00:11:02.019> you<00:11:02.290> eat<00:11:02.470> that<00:11:02.709> that<00:11:03.040> you<00:11:03.130> can<00:11:03.279> use<00:11:03.459> that 00:11:03.780 --> 00:11:03.790 align:start position:0% has a you eat that that you can use that 00:11:03.790 --> 00:11:05.310 align:start position:0% has a you eat that that you can use that we<00:11:03.910> use<00:11:04.060> for<00:11:04.180> demonstration<00:11:04.300> purposes 00:11:05.310 --> 00:11:05.320 align:start position:0% we use for demonstration purposes 00:11:05.320 --> 00:11:07.170 align:start position:0% we use for demonstration purposes you<00:11:05.769> can<00:11:05.920> also<00:11:06.100> scrape<00:11:06.550> that<00:11:06.730> and<00:11:06.910> integrate 00:11:07.170 --> 00:11:07.180 align:start position:0% you can also scrape that and integrate 00:11:07.180 --> 00:11:10.199 align:start position:0% you can also scrape that and integrate it<00:11:07.480> with<00:11:07.600> an<00:11:07.750> IOT<00:11:08.110> sense<00:11:08.380> or<00:11:08.589> device<00:11:08.920> or<00:11:09.220> an<00:11:09.490> ERP 00:11:10.199 --> 00:11:10.209 align:start position:0% it with an IOT sense or device or an ERP 00:11:10.209 --> 00:11:15.000 align:start position:0% it with an IOT sense or device or an ERP or<00:11:10.240> another<00:11:10.660> web<00:11:10.959> app<00:11:11.079> as<00:11:11.290> you<00:11:11.709> require<00:11:14.010> going 00:11:15.000 --> 00:11:15.010 align:start position:0% or another web app as you require going 00:11:15.010 --> 00:11:18.090 align:start position:0% or another web app as you require going a<00:11:15.130> bit<00:11:15.220> more<00:11:15.430> detail<00:11:15.730> into<00:11:15.910> zkp<00:11:16.600> and<00:11:16.870> it<00:11:17.740> has 00:11:18.090 --> 00:11:18.100 align:start position:0% a bit more detail into zkp and it has 00:11:18.100 --> 00:11:20.519 align:start position:0% a bit more detail into zkp and it has two<00:11:18.579> components<00:11:19.360> that<00:11:19.510> it<00:11:19.660> that<00:11:20.019> it<00:11:20.170> talks<00:11:20.380> to 00:11:20.519 --> 00:11:20.529 align:start position:0% two components that it that it talks to 00:11:20.529 --> 00:11:23.400 align:start position:0% two components that it that it talks to at<00:11:20.620> its<00:11:20.740> core<00:11:21.329> firstly<00:11:22.329> the<00:11:22.510> Socrates 00:11:23.400 --> 00:11:23.410 align:start position:0% at its core firstly the Socrates 00:11:23.410 --> 00:11:26.160 align:start position:0% at its core firstly the Socrates container<00:11:24.160> Socrates<00:11:25.120> is<00:11:25.240> an<00:11:25.329> incredible<00:11:25.899> tool 00:11:26.160 --> 00:11:26.170 align:start position:0% container Socrates is an incredible tool 00:11:26.170 --> 00:11:29.220 align:start position:0% container Socrates is an incredible tool that<00:11:26.680> extracts<00:11:27.430> away<00:11:27.670> the<00:11:28.110> generation<00:11:29.110> of 00:11:29.220 --> 00:11:29.230 align:start position:0% that extracts away the generation of 00:11:29.230 --> 00:11:33.060 align:start position:0% that extracts away the generation of proofs<00:11:30.130> for<00:11:30.670> Zika<00:11:30.940> start<00:11:31.410> it<00:11:32.410> apt<00:11:32.680> it 00:11:33.060 --> 00:11:33.070 align:start position:0% proofs for Zika start it apt it 00:11:33.070 --> 00:11:34.829 align:start position:0% proofs for Zika start it apt it abstracts<00:11:33.699> away<00:11:33.820> the<00:11:34.000> proving<00:11:34.750> and 00:11:34.829 --> 00:11:34.839 align:start position:0% abstracts away the proving and 00:11:34.839 --> 00:11:37.170 align:start position:0% abstracts away the proving and verification<00:11:35.320> key<00:11:35.500> generation<00:11:36.180> exporting 00:11:37.170 --> 00:11:37.180 align:start position:0% verification key generation exporting 00:11:37.180 --> 00:11:39.590 align:start position:0% verification key generation exporting verifier<00:11:37.600> and<00:11:37.870> verification<00:11:38.470> of<00:11:38.560> chain<00:11:38.889> and 00:11:39.590 --> 00:11:39.600 align:start position:0% verifier and verification of chain and 00:11:39.600 --> 00:11:42.180 align:start position:0% verifier and verification of chain and it<00:11:40.600> is<00:11:40.810> also<00:11:41.079> quite<00:11:41.320> up<00:11:41.529> to<00:11:41.740> date<00:11:41.860> on<00:11:42.070> the 00:11:42.180 --> 00:11:42.190 align:start position:0% it is also quite up to date on the 00:11:42.190 --> 00:11:43.530 align:start position:0% it is also quite up to date on the latest<00:11:42.279> happens<00:11:42.850> within<00:11:42.970> a<00:11:43.120> zero<00:11:43.329> knowledge 00:11:43.530 --> 00:11:43.540 align:start position:0% latest happens within a zero knowledge 00:11:43.540 --> 00:11:45.750 align:start position:0% latest happens within a zero knowledge world<00:11:43.959> as<00:11:44.500> in<00:11:44.680> the<00:11:44.800> various<00:11:45.070> proof<00:11:45.339> systems 00:11:45.750 --> 00:11:45.760 align:start position:0% world as in the various proof systems 00:11:45.760 --> 00:11:47.879 align:start position:0% world as in the various proof systems that<00:11:46.029> are<00:11:46.180> coming<00:11:46.510> up<00:11:46.660> or<00:11:46.899> the<00:11:46.930> various<00:11:47.500> hashes 00:11:47.879 --> 00:11:47.889 align:start position:0% that are coming up or the various hashes 00:11:47.889 --> 00:11:49.800 align:start position:0% that are coming up or the various hashes that<00:11:47.920> are<00:11:48.130> people<00:11:48.279> using<00:11:48.490> today<00:11:48.880> so<00:11:49.510> we<00:11:49.660> use 00:11:49.800 --> 00:11:49.810 align:start position:0% that are people using today so we use 00:11:49.810 --> 00:11:53.670 align:start position:0% that are people using today so we use Socrates<00:11:50.440> to<00:11:50.740> create<00:11:51.190> these<00:11:52.410> various<00:11:53.410> proofs 00:11:53.670 --> 00:11:53.680 align:start position:0% Socrates to create these various proofs 00:11:53.680 --> 00:11:56.910 align:start position:0% Socrates to create these various proofs of<00:11:53.860> minge<00:11:54.070> transfer<00:11:54.639> and<00:11:54.730> burn<00:11:54.970> and<00:11:55.649> we<00:11:56.649> then 00:11:56.910 --> 00:11:56.920 align:start position:0% of minge transfer and burn and we then 00:11:56.920 --> 00:11:58.710 align:start position:0% of minge transfer and burn and we then have<00:11:57.130> to<00:11:57.160> send<00:11:57.579> these<00:11:57.760> trends<00:11:58.240> and<00:11:58.449> these 00:11:58.710 --> 00:11:58.720 align:start position:0% have to send these trends and these 00:11:58.720 --> 00:12:01.110 align:start position:0% have to send these trends and these proofs<00:11:59.139> onto<00:11:59.589> the<00:11:59.709> blockchain<00:12:00.010> using<00:12:00.579> a<00:12:00.610> we 00:12:01.110 --> 00:12:01.120 align:start position:0% proofs onto the blockchain using a we 00:12:01.120 --> 00:12:02.480 align:start position:0% proofs onto the blockchain using a we use<00:12:01.269> a<00:12:01.300> guest<00:12:01.600> node<00:12:01.810> for<00:12:01.990> this<00:12:02.079> for<00:12:02.230> the<00:12:02.290> moment 00:12:02.480 --> 00:12:02.490 align:start position:0% use a guest node for this for the moment 00:12:02.490 --> 00:12:05.250 align:start position:0% use a guest node for this for the moment and<00:12:03.490> the<00:12:03.610> get<00:12:03.819> node<00:12:04.120> talks<00:12:04.420> to<00:12:04.750> shield 00:12:05.250 --> 00:12:05.260 align:start position:0% and the get node talks to shield 00:12:05.260 --> 00:12:07.350 align:start position:0% and the get node talks to shield contract<00:12:05.860> and<00:12:06.160> shield<00:12:06.639> content<00:12:07.000> internal 00:12:07.350 --> 00:12:07.360 align:start position:0% contract and shield content internal 00:12:07.360 --> 00:12:09.689 align:start position:0% contract and shield content internal interacts<00:12:08.110> with<00:12:08.230> the<00:12:08.319> other<00:12:08.699> complimentary 00:12:09.689 --> 00:12:09.699 align:start position:0% interacts with the other complimentary 00:12:09.699 --> 00:12:12.000 align:start position:0% interacts with the other complimentary contracts<00:12:10.060> that<00:12:10.149> we<00:12:10.269> talked<00:12:10.510> to<00:12:10.720> all<00:12:11.649> of<00:12:11.889> this 00:12:12.000 --> 00:12:12.010 align:start position:0% contracts that we talked to all of this 00:12:12.010 --> 00:12:14.129 align:start position:0% contracts that we talked to all of this logic<00:12:12.490> of<00:12:12.639> course<00:12:12.910> is<00:12:13.209> orchestrated<00:12:13.990> with 00:12:14.129 --> 00:12:14.139 align:start position:0% logic of course is orchestrated with 00:12:14.139 --> 00:12:16.889 align:start position:0% logic of course is orchestrated with node.js<00:12:14.589> controller<00:12:15.310> code<00:12:15.699> which<00:12:16.240> exposes<00:12:16.720> a 00:12:16.889 --> 00:12:16.899 align:start position:0% node.js controller code which exposes a 00:12:16.899 --> 00:12:20.309 align:start position:0% node.js controller code which exposes a REST<00:12:17.199> API<00:12:17.339> that<00:12:18.660> the<00:12:19.660> rest<00:12:19.810> of<00:12:19.959> our<00:12:20.050> micro 00:12:20.309 --> 00:12:20.319 align:start position:0% REST API that the rest of our micro 00:12:20.319 --> 00:12:22.920 align:start position:0% REST API that the rest of our micro services<00:12:20.829> can<00:12:21.250> consume<00:12:21.730> but<00:12:22.149> zkp<00:12:22.630> micro 00:12:22.920 --> 00:12:22.930 align:start position:0% services can consume but zkp micro 00:12:22.930 --> 00:12:26.400 align:start position:0% services can consume but zkp micro service<00:12:23.260> by<00:12:23.440> itself<00:12:23.800> can<00:12:24.310> can<00:12:24.760> be<00:12:24.790> used<00:12:25.209> to<00:12:25.839> to 00:12:26.400 --> 00:12:26.410 align:start position:0% service by itself can can be used to to 00:12:26.410 --> 00:12:28.110 align:start position:0% service by itself can can be used to to do<00:12:26.589> most<00:12:26.829> of<00:12:27.010> what<00:12:27.250> mints<00:12:27.670> burn<00:12:27.880> and 00:12:28.110 --> 00:12:28.120 align:start position:0% do most of what mints burn and 00:12:28.120 --> 00:12:34.050 align:start position:0% do most of what mints burn and transferred<00:12:28.569> us<00:12:28.779> today<00:12:32.220> so<00:12:33.220> what<00:12:33.610> next<00:12:33.819> for 00:12:34.050 --> 00:12:34.060 align:start position:0% transferred us today so what next for 00:12:34.060 --> 00:12:37.079 align:start position:0% transferred us today so what next for nightfall<00:12:34.209> so<00:12:35.019> we<00:12:35.110> have<00:12:35.230> a<00:12:35.260> road<00:12:35.500> map<00:12:35.529> here<00:12:36.089> so 00:12:37.079 --> 00:12:37.089 align:start position:0% nightfall so we have a road map here so 00:12:37.089 --> 00:12:38.400 align:start position:0% nightfall so we have a road map here so we're<00:12:37.209> looking<00:12:37.449> to<00:12:37.660> build<00:12:37.750> more<00:12:37.990> developer 00:12:38.400 --> 00:12:38.410 align:start position:0% we're looking to build more developer 00:12:38.410 --> 00:12:40.319 align:start position:0% we're looking to build more developer tools<00:12:38.620> if<00:12:38.829> anyone<00:12:39.130> has<00:12:39.250> any<00:12:39.430> needs<00:12:39.699> or<00:12:39.880> ideas 00:12:40.319 --> 00:12:40.329 align:start position:0% tools if anyone has any needs or ideas 00:12:40.329 --> 00:12:42.090 align:start position:0% tools if anyone has any needs or ideas or<00:12:40.569> they've<00:12:41.050> looked<00:12:41.199> at<00:12:41.350> the<00:12:41.440> nightfall<00:12:41.800> repo 00:12:42.090 --> 00:12:42.100 align:start position:0% or they've looked at the nightfall repo 00:12:42.100 --> 00:12:43.259 align:start position:0% or they've looked at the nightfall repo and<00:12:42.250> think<00:12:42.459> something<00:12:42.670> can<00:12:42.880> be<00:12:42.970> made<00:12:43.120> better 00:12:43.259 --> 00:12:43.269 align:start position:0% and think something can be made better 00:12:43.269 --> 00:12:44.910 align:start position:0% and think something can be made better please<00:12:43.690> get<00:12:43.930> in<00:12:44.019> touch<00:12:44.050> we're<00:12:44.500> always<00:12:44.649> trying 00:12:44.910 --> 00:12:44.920 align:start position:0% please get in touch we're always trying 00:12:44.920 --> 00:12:46.590 align:start position:0% please get in touch we're always trying to<00:12:45.040> make<00:12:45.610> it<00:12:45.760> better 00:12:46.590 --> 00:12:46.600 align:start position:0% to make it better 00:12:46.600 --> 00:12:48.300 align:start position:0% to make it better one<00:12:47.019> of<00:12:47.079> our<00:12:47.170> primary<00:12:47.440> goals<00:12:47.560> is<00:12:47.889> to<00:12:47.920> reduce 00:12:48.300 --> 00:12:48.310 align:start position:0% one of our primary goals is to reduce 00:12:48.310 --> 00:12:49.860 align:start position:0% one of our primary goals is to reduce the<00:12:48.490> cost<00:12:48.670> of<00:12:48.790> private<00:12:49.089> transactions<00:12:49.720> and 00:12:49.860 --> 00:12:49.870 align:start position:0% the cost of private transactions and 00:12:49.870 --> 00:12:51.030 align:start position:0% the cost of private transactions and uture<00:12:50.139> that's<00:12:50.290> going<00:12:50.529> to<00:12:50.589> talk<00:12:50.740> about 00:12:51.030 --> 00:12:51.040 align:start position:0% uture that's going to talk about 00:12:51.040 --> 00:12:54.329 align:start position:0% uture that's going to talk about batching<00:12:51.990> so<00:12:52.990> we've<00:12:53.410> made<00:12:53.680> some<00:12:53.740> leaps<00:12:54.190> and 00:12:54.329 --> 00:12:54.339 align:start position:0% batching so we've made some leaps and 00:12:54.339 --> 00:12:56.189 align:start position:0% batching so we've made some leaps and bounds<00:12:54.579> on<00:12:54.670> that<00:12:54.880> we're<00:12:55.600> also<00:12:55.720> going<00:12:55.930> to<00:12:56.019> chip 00:12:56.189 --> 00:12:56.199 align:start position:0% bounds on that we're also going to chip 00:12:56.199 --> 00:12:57.990 align:start position:0% bounds on that we're also going to chip away<00:12:56.230> at<00:12:56.440> the<00:12:56.860> smart<00:12:57.130> contract<00:12:57.279> logic<00:12:57.819> to 00:12:57.990 --> 00:12:58.000 align:start position:0% away at the smart contract logic to 00:12:58.000 --> 00:12:59.850 align:start position:0% away at the smart contract logic to reduce<00:12:58.269> the<00:12:58.420> gas<00:12:58.600> cost<00:12:58.870> there<00:12:59.110> and<00:12:59.649> we're<00:12:59.740> also 00:12:59.850 --> 00:12:59.860 align:start position:0% reduce the gas cost there and we're also 00:12:59.860 --> 00:13:01.259 align:start position:0% reduce the gas cost there and we're also going<00:13:00.010> to<00:13:00.069> take<00:13:00.220> a<00:13:00.279> look<00:13:00.459> at<00:13:00.550> the<00:13:00.610> verification 00:13:01.259 --> 00:13:01.269 align:start position:0% going to take a look at the verification 00:13:01.269 --> 00:13:02.970 align:start position:0% going to take a look at the verification scheme<00:13:01.540> to<00:13:01.810> see<00:13:01.959> if<00:13:02.019> we<00:13:02.110> can<00:13:02.260> use<00:13:02.350> a<00:13:02.380> more<00:13:02.589> gas 00:13:02.970 --> 00:13:02.980 align:start position:0% scheme to see if we can use a more gas 00:13:02.980 --> 00:13:04.800 align:start position:0% scheme to see if we can use a more gas efficient<00:13:03.370> one<00:13:03.519> we're<00:13:04.300> also<00:13:04.420> going<00:13:04.630> to<00:13:04.689> look 00:13:04.800 --> 00:13:04.810 align:start position:0% efficient one we're also going to look 00:13:04.810 --> 00:13:06.509 align:start position:0% efficient one we're also going to look at<00:13:04.899> making<00:13:05.230> the<00:13:05.350> transact<00:13:05.890> or<00:13:06.069> anonymous 00:13:06.509 --> 00:13:06.519 align:start position:0% at making the transact or anonymous 00:13:06.519 --> 00:13:08.519 align:start position:0% at making the transact or anonymous through<00:13:06.790> relays<00:13:07.180> and<00:13:07.510> so<00:13:08.050> if<00:13:08.170> there<00:13:08.350> are<00:13:08.410> any 00:13:08.519 --> 00:13:08.529 align:start position:0% through relays and so if there are any 00:13:08.529 --> 00:13:09.390 align:start position:0% through relays and so if there are any people<00:13:09.010> knowing 00:13:09.390 --> 00:13:09.400 align:start position:0% people knowing 00:13:09.400 --> 00:13:12.020 align:start position:0% people knowing relays<00:13:09.760> please<00:13:10.060> gain<00:13:10.270> touch<00:13:10.570> we<00:13:11.560> look<00:13:11.770> at<00:13:11.890> that 00:13:12.020 --> 00:13:12.030 align:start position:0% relays please gain touch we look at that 00:13:12.030 --> 00:13:15.020 align:start position:0% relays please gain touch we look at that and<00:13:13.030> also<00:13:13.390> we'll<00:13:13.570> look<00:13:13.720> at<00:13:13.840> the<00:13:13.930> trusted<00:13:14.290> setup 00:13:15.020 --> 00:13:15.030 align:start position:0% and also we'll look at the trusted setup 00:13:15.030 --> 00:13:17.370 align:start position:0% and also we'll look at the trusted setup so<00:13:16.030> there<00:13:16.210> are<00:13:16.300> some<00:13:16.480> new<00:13:16.630> schemes<00:13:16.930> coming<00:13:17.140> out 00:13:17.370 --> 00:13:17.380 align:start position:0% so there are some new schemes coming out 00:13:17.380 --> 00:13:19.140 align:start position:0% so there are some new schemes coming out at<00:13:17.500> the<00:13:17.590> moment<00:13:17.740> that<00:13:18.160> get<00:13:18.340> rid<00:13:18.550> of<00:13:18.580> the<00:13:18.760> nature 00:13:19.140 --> 00:13:19.150 align:start position:0% at the moment that get rid of the nature 00:13:19.150 --> 00:13:20.640 align:start position:0% at the moment that get rid of the nature of<00:13:19.240> a<00:13:19.300> trusted<00:13:19.630> setup<00:13:19.990> they're<00:13:20.290> coming 00:13:20.640 --> 00:13:20.650 align:start position:0% of a trusted setup they're coming 00:13:20.650 --> 00:13:26.820 align:start position:0% of a trusted setup they're coming becoming<00:13:21.160> more<00:13:21.340> efficient<00:13:24.120> so<00:13:25.320> okay<00:13:26.320> so<00:13:26.350> one 00:13:26.820 --> 00:13:26.830 align:start position:0% becoming more efficient so okay so one 00:13:26.830 --> 00:13:28.860 align:start position:0% becoming more efficient so okay so one of<00:13:26.860> these<00:13:27.270> odd<00:13:28.270> more<00:13:28.450> points<00:13:28.660> I've<00:13:28.750> been 00:13:28.860 --> 00:13:28.870 align:start position:0% of these odd more points I've been 00:13:28.870 --> 00:13:31.020 align:start position:0% of these odd more points I've been working<00:13:29.170> on<00:13:29.260> is<00:13:29.530> prove<00:13:30.130> batching<00:13:30.520> so<00:13:30.790> as<00:13:30.880> you 00:13:31.020 --> 00:13:31.030 align:start position:0% working on is prove batching so as you 00:13:31.030 --> 00:13:33.360 align:start position:0% working on is prove batching so as you may<00:13:31.150> know<00:13:31.360> the<00:13:31.870> verification<00:13:32.500> is<00:13:32.710> quite 00:13:33.360 --> 00:13:33.370 align:start position:0% may know the verification is quite 00:13:33.370 --> 00:13:35.940 align:start position:0% may know the verification is quite costly<00:13:33.760> so<00:13:34.240> we<00:13:34.360> developed<00:13:34.960> a<00:13:35.080> prototype<00:13:35.410> to<00:13:35.830> do 00:13:35.940 --> 00:13:35.950 align:start position:0% costly so we developed a prototype to do 00:13:35.950 --> 00:13:40.680 align:start position:0% costly so we developed a prototype to do to<00:13:36.340> do<00:13:36.460> the<00:13:36.550> bad<00:13:36.700> chain<00:13:36.970> so<00:13:37.830> so<00:13:39.480> the<00:13:40.480> most 00:13:40.680 --> 00:13:40.690 align:start position:0% to do the bad chain so so the most 00:13:40.690 --> 00:13:42.780 align:start position:0% to do the bad chain so so the most generic<00:13:41.050> and<00:13:41.470> practical<00:13:41.980> way<00:13:42.070> to<00:13:42.100> do<00:13:42.430> batching 00:13:42.780 --> 00:13:42.790 align:start position:0% generic and practical way to do batching 00:13:42.790 --> 00:13:44.820 align:start position:0% generic and practical way to do batching for<00:13:42.940> the<00:13:43.000> time<00:13:43.210> being<00:13:43.480> is<00:13:43.660> to<00:13:43.810> do<00:13:43.900> it<00:13:44.080> via<00:13:44.530> prove 00:13:44.820 --> 00:13:44.830 align:start position:0% for the time being is to do it via prove 00:13:44.830 --> 00:13:46.770 align:start position:0% for the time being is to do it via prove composition<00:13:45.460> that<00:13:45.760> is<00:13:45.910> you<00:13:46.090> create<00:13:46.270> a<00:13:46.450> pool 00:13:46.770 --> 00:13:46.780 align:start position:0% composition that is you create a pool 00:13:46.780 --> 00:13:49.320 align:start position:0% composition that is you create a pool that<00:13:47.020> verifies<00:13:47.500> another<00:13:47.920> pool<00:13:48.190> or<00:13:48.370> the<00:13:48.730> many 00:13:49.320 --> 00:13:49.330 align:start position:0% that verifies another pool or the many 00:13:49.330 --> 00:13:53.370 align:start position:0% that verifies another pool or the many others<00:13:49.690> post<00:13:49.960> so<00:13:51.690> so<00:13:52.690> it<00:13:52.810> was<00:13:52.930> introduced<00:13:53.260> in 00:13:53.370 --> 00:13:53.380 align:start position:0% others post so so it was introduced in 00:13:53.380 --> 00:13:56.070 align:start position:0% others post so so it was introduced in this<00:13:53.470> paper<00:13:53.710> about<00:13:53.950> four<00:13:54.670> carri<00:13:55.240> in<00:13:55.420> data<00:13:55.660> and 00:13:56.070 --> 00:13:56.080 align:start position:0% this paper about four carri in data and 00:13:56.080 --> 00:13:58.580 align:start position:0% this paper about four carri in data and but<00:13:56.770> there's<00:13:57.400> a<00:13:57.460> gap<00:13:57.670> between<00:13:57.820> the<00:13:58.030> theory<00:13:58.390> and 00:13:58.580 --> 00:13:58.590 align:start position:0% but there's a gap between the theory and 00:13:58.590 --> 00:14:02.130 align:start position:0% but there's a gap between the theory and the<00:13:59.590> implementation<00:14:00.280> because<00:14:00.780> the<00:14:01.780> problem 00:14:02.130 --> 00:14:02.140 align:start position:0% the implementation because the problem 00:14:02.140 --> 00:14:04.560 align:start position:0% the implementation because the problem is<00:14:02.310> there<00:14:03.310> is<00:14:03.400> a<00:14:03.430> mismatch<00:14:03.640> arithmetic<00:14:04.420> when 00:14:04.560 --> 00:14:04.570 align:start position:0% is there is a mismatch arithmetic when 00:14:04.570 --> 00:14:07.170 align:start position:0% is there is a mismatch arithmetic when you<00:14:04.660> want<00:14:04.900> to<00:14:05.160> do<00:14:06.160> up<00:14:06.280> for<00:14:06.490> that<00:14:06.670> generates<00:14:07.120> a 00:14:07.170 --> 00:14:07.180 align:start position:0% you want to do up for that generates a 00:14:07.180 --> 00:14:08.280 align:start position:0% you want to do up for that generates a pool<00:14:07.330> because<00:14:07.600> the<00:14:07.690> arithmetic<00:14:07.870> of 00:14:08.280 --> 00:14:08.290 align:start position:0% pool because the arithmetic of 00:14:08.290 --> 00:14:09.900 align:start position:0% pool because the arithmetic of generation<00:14:08.770> of<00:14:08.890> the<00:14:08.980> proof<00:14:09.250> is<00:14:09.400> not<00:14:09.550> the<00:14:09.670> same 00:14:09.900 --> 00:14:09.910 align:start position:0% generation of the proof is not the same 00:14:09.910 --> 00:14:12.690 align:start position:0% generation of the proof is not the same as<00:14:10.210> the<00:14:10.840> verification<00:14:11.440> of<00:14:11.530> the<00:14:11.590> pool<00:14:11.920> so<00:14:12.400> in 00:14:12.690 --> 00:14:12.700 align:start position:0% as the verification of the pool so in 00:14:12.700 --> 00:14:14.450 align:start position:0% as the verification of the pool so in this<00:14:12.790> paper<00:14:12.970> they<00:14:13.210> have<00:14:13.450> introduced<00:14:13.990> this 00:14:14.450 --> 00:14:14.460 align:start position:0% this paper they have introduced this 00:14:14.460 --> 00:14:18.600 align:start position:0% this paper they have introduced this cycle<00:14:15.460> of<00:14:15.520> elliptic<00:14:15.940> curve<00:14:16.120> so<00:14:17.280> mainly<00:14:18.280> so 00:14:18.600 --> 00:14:18.610 align:start position:0% cycle of elliptic curve so mainly so 00:14:18.610 --> 00:14:22.980 align:start position:0% cycle of elliptic curve so mainly so namely<00:14:19.530> m84<00:14:20.530> mhz<00:14:21.010> sex<00:14:21.370> curve<00:14:21.610> so<00:14:21.820> mostly<00:14:22.750> in 00:14:22.980 --> 00:14:22.990 align:start position:0% namely m84 mhz sex curve so mostly in 00:14:22.990 --> 00:14:25.370 align:start position:0% namely m84 mhz sex curve so mostly in this<00:14:23.200> research<00:14:23.890> branch<00:14:24.160> we<00:14:24.430> know<00:14:24.580> mostly 00:14:25.370 --> 00:14:25.380 align:start position:0% this research branch we know mostly 00:14:25.380 --> 00:14:27.720 align:start position:0% this research branch we know mostly negative<00:14:26.380> results<00:14:26.860> about<00:14:27.040> this<00:14:27.280> we<00:14:27.490> cannot 00:14:27.720 --> 00:14:27.730 align:start position:0% negative results about this we cannot 00:14:27.730 --> 00:14:30.900 align:start position:0% negative results about this we cannot find<00:14:28.000> for<00:14:28.210> example<00:14:29.490> cycles<00:14:30.490> whether<00:14:30.670> for 00:14:30.900 --> 00:14:30.910 align:start position:0% find for example cycles whether for 00:14:30.910 --> 00:14:32.610 align:start position:0% find for example cycles whether for example<00:14:30.940> be<00:14:31.330> a<00:14:31.360> family<00:14:31.840> using<00:14:32.140> in<00:14:32.230> here<00:14:32.440> young 00:14:32.610 --> 00:14:32.620 align:start position:0% example be a family using in here young 00:14:32.620 --> 00:14:35.270 align:start position:0% example be a family using in here young or<00:14:33.090> Freeman<00:14:34.090> family<00:14:34.510> we<00:14:34.570> cannot<00:14:34.780> find 00:14:35.270 --> 00:14:35.280 align:start position:0% or Freeman family we cannot find 00:14:35.280 --> 00:14:37.560 align:start position:0% or Freeman family we cannot find composite<00:14:36.280> order<00:14:36.640> cycles<00:14:37.120> of<00:14:37.210> elliptic 00:14:37.560 --> 00:14:37.570 align:start position:0% composite order cycles of elliptic 00:14:37.570 --> 00:14:39.660 align:start position:0% composite order cycles of elliptic curves<00:14:37.780> so<00:14:37.990> we<00:14:38.530> have<00:14:38.650> only<00:14:38.830> this<00:14:39.040> energy<00:14:39.490> for 00:14:39.660 --> 00:14:39.670 align:start position:0% curves so we have only this energy for 00:14:39.670 --> 00:14:42.300 align:start position:0% curves so we have only this energy for energy<00:14:39.970> cycles<00:14:40.360> and<00:14:40.560> and<00:14:41.560> the<00:14:41.710> problem<00:14:42.100> with 00:14:42.300 --> 00:14:42.310 align:start position:0% energy cycles and and the problem with 00:14:42.310 --> 00:14:45.900 align:start position:0% energy cycles and and the problem with these<00:14:42.730> cycle<00:14:43.480> is<00:14:43.600> that<00:14:44.460> so<00:14:45.490> they<00:14:45.790> have 00:14:45.900 --> 00:14:45.910 align:start position:0% these cycle is that so they have 00:14:45.910 --> 00:14:48.060 align:start position:0% these cycle is that so they have inbreeding<00:14:46.450> degree<00:14:46.840> four<00:14:47.380> and<00:14:47.560> six<00:14:47.800> so<00:14:47.920> that 00:14:48.060 --> 00:14:48.070 align:start position:0% inbreeding degree four and six so that 00:14:48.070 --> 00:14:52.680 align:start position:0% inbreeding degree four and six so that makes<00:14:48.310> the<00:14:48.610> security<00:14:49.450> in<00:14:49.510> low<00:14:49.690> or<00:14:50.940> so<00:14:51.940> to<00:14:52.240> solve 00:14:52.680 --> 00:14:52.690 align:start position:0% makes the security in low or so to solve 00:14:52.690 --> 00:14:54.510 align:start position:0% makes the security in low or so to solve this<00:14:52.780> problem<00:14:53.170> there<00:14:54.070> are<00:14:54.130> two<00:14:54.340> solutions 00:14:54.510 --> 00:14:54.520 align:start position:0% this problem there are two solutions 00:14:54.520 --> 00:14:58.410 align:start position:0% this problem there are two solutions whether<00:14:55.330> you<00:14:55.570> have<00:14:55.720> to<00:14:55.870> increase<00:14:57.030> the<00:14:58.030> size<00:14:58.180> of 00:14:58.410 --> 00:14:58.420 align:start position:0% whether you have to increase the size of 00:14:58.420 --> 00:15:01.190 align:start position:0% whether you have to increase the size of the<00:14:58.570> film<00:14:58.780> so<00:14:59.170> this<00:14:59.410> is<00:14:59.560> like<00:14:59.740> the<00:14:59.860> variety<00:15:00.090> for 00:15:01.190 --> 00:15:01.200 align:start position:0% the film so this is like the variety for 00:15:01.200 --> 00:15:06.900 align:start position:0% the film so this is like the variety for 753<00:15:02.200> an<00:15:02.320> m-80<00:15:02.620> 675<00:15:03.310> field<00:15:03.550> used<00:15:04.270> by<00:15:04.480> coda<00:15:04.780> so<00:15:05.910> so 00:15:06.900 --> 00:15:06.910 align:start position:0% 753 an m-80 675 field used by coda so so 00:15:06.910 --> 00:15:08.610 align:start position:0% 753 an m-80 675 field used by coda so so this<00:15:07.330> comes<00:15:07.630> with<00:15:07.750> a<00:15:07.810> trader<00:15:08.110> so<00:15:08.410> you<00:15:08.500> have 00:15:08.610 --> 00:15:08.620 align:start position:0% this comes with a trader so you have 00:15:08.620 --> 00:15:14.010 align:start position:0% this comes with a trader so you have high<00:15:08.800> security<00:15:09.460> but<00:15:10.350> slow<00:15:11.850> batching<00:15:12.850> all<00:15:13.210> the 00:15:14.010 --> 00:15:14.020 align:start position:0% high security but slow batching all the 00:15:14.020 --> 00:15:15.870 align:start position:0% high security but slow batching all the other<00:15:14.170> protein<00:15:14.740> powder<00:15:14.980> was<00:15:15.280> introduced<00:15:15.700> in 00:15:15.870 --> 00:15:15.880 align:start position:0% other protein powder was introduced in 00:15:15.880 --> 00:15:18.570 align:start position:0% other protein powder was introduced in the<00:15:16.060> XE<00:15:16.300> paper<00:15:16.540> which<00:15:16.900> is<00:15:17.250> maybe<00:15:18.250> you<00:15:18.430> need 00:15:18.570 --> 00:15:18.580 align:start position:0% the XE paper which is maybe you need 00:15:18.580 --> 00:15:20.700 align:start position:0% the XE paper which is maybe you need only<00:15:18.790> one<00:15:19.350> nicosia 00:15:20.700 --> 00:15:20.710 align:start position:0% only one nicosia 00:15:20.710 --> 00:15:22.889 align:start position:0% only one nicosia abounded<00:15:21.670> a<00:15:21.730> recursion<00:15:22.030> and<00:15:22.390> then<00:15:22.510> you<00:15:22.630> can 00:15:22.889 --> 00:15:22.899 align:start position:0% abounded a recursion and then you can 00:15:22.899 --> 00:15:26.129 align:start position:0% abounded a recursion and then you can find<00:15:23.079> good<00:15:23.680> security<00:15:24.550> curves<00:15:25.089> but<00:15:25.660> then<00:15:25.869> also 00:15:26.129 --> 00:15:26.139 align:start position:0% find good security curves but then also 00:15:26.139 --> 00:15:30.179 align:start position:0% find good security curves but then also the<00:15:26.379> outer<00:15:26.529> outer<00:15:27.220> curve<00:15:27.610> is<00:15:28.410> is<00:15:29.410> low<00:15:29.680> so<00:15:29.889> there 00:15:30.179 --> 00:15:30.189 align:start position:0% the outer outer curve is is low so there 00:15:30.189 --> 00:15:33.090 align:start position:0% the outer outer curve is is low so there is<00:15:30.309> some<00:15:30.730> trade<00:15:31.029> trade-offs<00:15:31.600> and<00:15:32.319> so<00:15:32.829> our 00:15:33.090 --> 00:15:33.100 align:start position:0% is some trade trade-offs and so our 00:15:33.100 --> 00:15:35.609 align:start position:0% is some trade trade-offs and so our protocol<00:15:33.670> we<00:15:33.819> have<00:15:33.850> developed<00:15:34.540> a<00:15:34.660> somewhat<00:15:35.470> in 00:15:35.609 --> 00:15:35.619 align:start position:0% protocol we have developed a somewhat in 00:15:35.619 --> 00:15:38.160 align:start position:0% protocol we have developed a somewhat in between<00:15:35.649> so<00:15:36.490> we<00:15:37.180> took<00:15:37.329> the<00:15:37.480> advantage<00:15:37.869> of<00:15:37.990> the 00:15:38.160 --> 00:15:38.170 align:start position:0% between so we took the advantage of the 00:15:38.170 --> 00:15:42.480 align:start position:0% between so we took the advantage of the this<00:15:38.410> fast<00:15:38.709> cycle<00:15:39.040> of<00:15:39.399> 74<00:15:39.970> m86<00:15:40.779> and<00:15:41.189> we<00:15:42.189> do<00:15:42.339> the 00:15:42.480 --> 00:15:42.490 align:start position:0% this fast cycle of 74 m86 and we do the 00:15:42.490 --> 00:15:45.119 align:start position:0% this fast cycle of 74 m86 and we do the batching<00:15:42.939> over<00:15:43.389> this<00:15:43.540> energy<00:15:44.199> for<00:15:44.439> m86 00:15:45.119 --> 00:15:45.129 align:start position:0% batching over this energy for m86 00:15:45.129 --> 00:15:48.119 align:start position:0% batching over this energy for m86 so<00:15:45.579> as<00:15:45.699> long<00:15:45.879> as<00:15:46.059> you<00:15:46.179> want<00:15:46.389> and<00:15:46.600> then<00:15:47.129> whatever 00:15:48.119 --> 00:15:48.129 align:start position:0% so as long as you want and then whatever 00:15:48.129 --> 00:15:50.040 align:start position:0% so as long as you want and then whatever so<00:15:48.339> you<00:15:48.579> do<00:15:48.670> it<00:15:48.790> off<00:15:48.999> chain<00:15:49.240> so<00:15:49.660> you<00:15:49.720> do<00:15:49.929> not 00:15:50.040 --> 00:15:50.050 align:start position:0% so you do it off chain so you do not 00:15:50.050 --> 00:15:52.109 align:start position:0% so you do it off chain so you do not care<00:15:50.290> much<00:15:50.439> about<00:15:50.499> the<00:15:50.800> security<00:15:51.399> even<00:15:51.850> if<00:15:51.999> it 00:15:52.109 --> 00:15:52.119 align:start position:0% care much about the security even if it 00:15:52.119 --> 00:15:54.030 align:start position:0% care much about the security even if it is<00:15:52.240> not<00:15:52.420> an<00:15:52.749> acceptable<00:15:53.350> security<00:15:53.829> for<00:15:53.980> the 00:15:54.030 --> 00:15:54.040 align:start position:0% is not an acceptable security for the 00:15:54.040 --> 00:15:56.999 align:start position:0% is not an acceptable security for the time<00:15:54.220> being<00:15:54.429> but<00:15:54.939> then<00:15:55.589> in<00:15:56.589> the<00:15:56.769> last 00:15:56.999 --> 00:15:57.009 align:start position:0% time being but then in the last 00:15:57.009 --> 00:15:59.429 align:start position:0% time being but then in the last composition<00:15:57.790> you<00:15:58.269> we<00:15:58.480> created<00:15:58.899> a<00:15:58.990> new<00:15:59.199> curve 00:15:59.429 --> 00:15:59.439 align:start position:0% composition you we created a new curve 00:15:59.439 --> 00:16:02.129 align:start position:0% composition you we created a new curve we<00:15:59.649> call<00:15:59.860> pendulum<00:16:00.610> so<00:16:01.059> via<00:16:01.269> Cox<00:16:01.540> pinch<00:16:01.779> method 00:16:02.129 --> 00:16:02.139 align:start position:0% we call pendulum so via Cox pinch method 00:16:02.139 --> 00:16:05.759 align:start position:0% we call pendulum so via Cox pinch method and<00:16:02.319> we<00:16:02.860> push<00:16:03.160> this<00:16:03.790> last<00:16:04.420> pool<00:16:04.720> that<00:16:05.350> has<00:16:05.410> good 00:16:05.759 --> 00:16:05.769 align:start position:0% and we push this last pool that has good 00:16:05.769 --> 00:16:07.889 align:start position:0% and we push this last pool that has good security<00:16:06.220> into<00:16:07.119> the<00:16:07.240> blockchain<00:16:07.449> so<00:16:07.749> this 00:16:07.889 --> 00:16:07.899 align:start position:0% security into the blockchain so this 00:16:07.899 --> 00:16:10.049 align:start position:0% security into the blockchain so this creates<00:16:08.319> some<00:16:08.559> sort<00:16:08.709> of<00:16:08.860> a<00:16:09.009> graph<00:16:09.309> so<00:16:09.759> we<00:16:09.790> call 00:16:10.049 --> 00:16:10.059 align:start position:0% creates some sort of a graph so we call 00:16:10.059 --> 00:16:12.929 align:start position:0% creates some sort of a graph so we call the<00:16:10.179> pendulum<00:16:10.600> graph<00:16:10.749> so<00:16:11.019> you<00:16:11.050> have<00:16:11.339> curves<00:16:12.339> in 00:16:12.929 --> 00:16:12.939 align:start position:0% the pendulum graph so you have curves in 00:16:12.939 --> 00:16:15.569 align:start position:0% the pendulum graph so you have curves in vertices<00:16:13.569> and<00:16:13.720> edges<00:16:13.839> you<00:16:14.170> have<00:16:14.369> so<00:16:15.369> those 00:16:15.569 --> 00:16:15.579 align:start position:0% vertices and edges you have so those 00:16:15.579 --> 00:16:17.460 align:start position:0% vertices and edges you have so those mathematical<00:16:16.209> equation<00:16:16.600> that<00:16:16.629> is<00:16:16.959> the 00:16:17.460 --> 00:16:17.470 align:start position:0% mathematical equation that is the 00:16:17.470 --> 00:16:19.290 align:start position:0% mathematical equation that is the subgroup<00:16:17.889> order<00:16:18.249> of<00:16:18.339> the<00:16:18.459> one<00:16:18.639> elliptical<00:16:19.149> is 00:16:19.290 --> 00:16:19.300 align:start position:0% subgroup order of the one elliptical is 00:16:19.300 --> 00:16:21.299 align:start position:0% subgroup order of the one elliptical is equal<00:16:19.629> to<00:16:19.749> the<00:16:20.110> characteristic<00:16:20.290> field<00:16:21.009> or<00:16:21.189> the 00:16:21.299 --> 00:16:21.309 align:start position:0% equal to the characteristic field or the 00:16:21.309 --> 00:16:22.619 align:start position:0% equal to the characteristic field or the other<00:16:21.429> one<00:16:21.639> and<00:16:21.790> vice<00:16:21.819> versa 00:16:22.619 --> 00:16:22.629 align:start position:0% other one and vice versa 00:16:22.629 --> 00:16:26.879 align:start position:0% other one and vice versa so<00:16:22.869> so<00:16:23.829> we<00:16:24.040> we<00:16:24.399> are<00:16:24.429> batching<00:16:24.850> pose<00:16:25.139> so<00:16:26.139> 2<00:16:26.679> by<00:16:26.829> 2 00:16:26.879 --> 00:16:26.889 align:start position:0% so so we we are batching pose so 2 by 2 00:16:26.889 --> 00:16:30.119 align:start position:0% so so we we are batching pose so 2 by 2 so<00:16:27.249> we<00:16:27.629> restrict<00:16:28.629> issuers<00:16:29.350> to<00:16:29.379> batch<00:16:29.709> to 00:16:30.119 --> 00:16:30.129 align:start position:0% so we restrict issuers to batch to 00:16:30.129 --> 00:16:32.669 align:start position:0% so we restrict issuers to batch to submit<00:16:30.579> force<00:16:30.819> on<00:16:30.970> em<00:16:31.120> 86<00:16:31.600> and<00:16:31.809> then<00:16:32.170> we<00:16:32.529> do 00:16:32.669 --> 00:16:32.679 align:start position:0% submit force on em 86 and then we do 00:16:32.679 --> 00:16:38.040 align:start position:0% submit force on em 86 and then we do this<00:16:33.300> recursion<00:16:34.439> and<00:16:35.439> so<00:16:35.679> we<00:16:35.829> we<00:16:36.759> find<00:16:37.050> last 00:16:38.040 --> 00:16:38.050 align:start position:0% this recursion and so we we find last 00:16:38.050 --> 00:16:40.619 align:start position:0% this recursion and so we we find last off<00:16:38.259> and<00:16:38.499> then<00:16:38.860> we<00:16:39.069> do<00:16:39.220> a<00:16:39.249> final<00:16:39.759> composition 00:16:40.619 --> 00:16:40.629 align:start position:0% off and then we do a final composition 00:16:40.629 --> 00:16:44.220 align:start position:0% off and then we do a final composition of<00:16:41.139> this<00:16:41.550> pendulum<00:16:42.550> curve<00:16:42.910> that<00:16:43.449> we<00:16:43.629> push<00:16:43.839> into 00:16:44.220 --> 00:16:44.230 align:start position:0% of this pendulum curve that we push into 00:16:44.230 --> 00:16:46.860 align:start position:0% of this pendulum curve that we push into the<00:16:44.470> blockchain<00:16:44.679> so<00:16:45.370> we've<00:16:46.120> tried<00:16:46.329> to<00:16:46.449> do 00:16:46.860 --> 00:16:46.870 align:start position:0% the blockchain so we've tried to do 00:16:46.870 --> 00:16:49.290 align:start position:0% the blockchain so we've tried to do everything<00:16:47.649> in<00:16:47.980> so<00:16:48.129> practice<00:16:48.490> so<00:16:48.790> that<00:16:48.819> the 00:16:49.290 --> 00:16:49.300 align:start position:0% everything in so practice so that the 00:16:49.300 --> 00:16:52.350 align:start position:0% everything in so practice so that the community<00:16:49.720> can<00:16:49.959> you<00:16:50.319> use<00:16:51.069> it<00:16:51.279> so<00:16:51.730> we<00:16:52.089> we've 00:16:52.350 --> 00:16:52.360 align:start position:0% community can you use it so we we've 00:16:52.360 --> 00:16:54.540 align:start position:0% community can you use it so we we've added<00:16:52.569> some<00:16:52.929> some<00:16:53.350> some<00:16:53.620> nice<00:16:53.829> features<00:16:54.069> into 00:16:54.540 --> 00:16:54.550 align:start position:0% added some some some nice features into 00:16:54.550 --> 00:16:57.090 align:start position:0% added some some some nice features into the<00:16:54.579> parties<00:16:54.999> for<00:16:55.480> instance<00:16:55.929> so<00:16:56.559> everything 00:16:57.090 --> 00:16:57.100 align:start position:0% the parties for instance so everything 00:16:57.100 --> 00:16:58.470 align:start position:0% the parties for instance so everything is<00:16:57.220> public<00:16:57.579> by<00:16:57.699> the<00:16:57.759> way<00:16:57.939> so<00:16:57.999> we've<00:16:58.269> published 00:16:58.470 --> 00:16:58.480 align:start position:0% is public by the way so we've published 00:16:58.480 --> 00:17:01.710 align:start position:0% is public by the way so we've published this<00:16:58.870> this<00:16:59.439> morning<00:16:59.649> so<00:17:00.279> for<00:17:01.209> instance<00:17:01.540> in 00:17:01.710 --> 00:17:01.720 align:start position:0% this this morning so for instance in 00:17:01.720 --> 00:17:04.500 align:start position:0% this this morning so for instance in Socrates<00:17:02.230> now<00:17:02.439> you<00:17:02.499> can<00:17:02.920> you<00:17:03.610> can<00:17:03.879> do 00:17:04.500 --> 00:17:04.510 align:start position:0% Socrates now you can you can do 00:17:04.510 --> 00:17:06.299 align:start position:0% Socrates now you can you can do Socrates<00:17:05.079> verify<00:17:05.409> so<00:17:05.620> we<00:17:05.709> have<00:17:05.829> current<00:17:06.159> line 00:17:06.299 --> 00:17:06.309 align:start position:0% Socrates verify so we have current line 00:17:06.309 --> 00:17:08.669 align:start position:0% Socrates verify so we have current line verification<00:17:06.970> in<00:17:07.029> Socrates<00:17:07.480> so<00:17:07.839> we<00:17:07.990> add<00:17:08.169> so<00:17:08.529> we 00:17:08.669 --> 00:17:08.679 align:start position:0% verification in Socrates so we add so we 00:17:08.679 --> 00:17:11.399 align:start position:0% verification in Socrates so we add so we made<00:17:08.860> so<00:17:09.610> we<00:17:09.699> changed<00:17:10.029> how<00:17:10.299> how<00:17:10.569> Socrates<00:17:11.049> was 00:17:11.399 --> 00:17:11.409 align:start position:0% made so we changed how how Socrates was 00:17:11.409 --> 00:17:14.549 align:start position:0% made so we changed how how Socrates was built<00:17:11.679> and<00:17:11.890> we<00:17:12.730> we<00:17:13.240> made<00:17:13.270> Socrates<00:17:14.140> generic 00:17:14.549 --> 00:17:14.559 align:start position:0% built and we we made Socrates generic 00:17:14.559 --> 00:17:16.409 align:start position:0% built and we we made Socrates generic over<00:17:14.799> the<00:17:14.890> car<00:17:15.100> so<00:17:15.459> so<00:17:15.789> parties<00:17:16.120> for<00:17:16.299> now 00:17:16.409 --> 00:17:16.419 align:start position:0% over the car so so parties for now 00:17:16.419 --> 00:17:18.569 align:start position:0% over the car so so parties for now allows<00:17:16.779> you<00:17:16.899> to<00:17:17.049> generate<00:17:17.350> force<00:17:17.620> only<00:17:17.860> on<00:17:18.189> ads 00:17:18.569 --> 00:17:18.579 align:start position:0% allows you to generate force only on ads 00:17:18.579 --> 00:17:21.149 align:start position:0% allows you to generate force only on ads being<00:17:19.089> curved<00:17:19.329> and<00:17:19.539> now<00:17:20.140> you<00:17:20.199> can<00:17:20.529> generate<00:17:20.829> in 00:17:21.149 --> 00:17:21.159 align:start position:0% being curved and now you can generate in 00:17:21.159 --> 00:17:23.909 align:start position:0% being curved and now you can generate in amenties<00:17:21.939> for<00:17:22.270> m86<00:17:22.809> or<00:17:23.049> any<00:17:23.260> other<00:17:23.439> curve<00:17:23.770> that 00:17:23.909 --> 00:17:23.919 align:start position:0% amenties for m86 or any other curve that 00:17:23.919 --> 00:17:26.519 align:start position:0% amenties for m86 or any other curve that you<00:17:24.039> have<00:17:24.189> in<00:17:24.370> your<00:17:24.459> back-end<00:17:24.730> so<00:17:25.209> and<00:17:25.529> we've 00:17:26.519 --> 00:17:26.529 align:start position:0% you have in your back-end so and we've 00:17:26.529 --> 00:17:29.419 align:start position:0% you have in your back-end so and we've also<00:17:26.860> developed<00:17:27.610> this<00:17:27.970> gadget<00:17:28.899> of 00:17:29.419 --> 00:17:29.429 align:start position:0% also developed this gadget of 00:17:29.429 --> 00:17:32.970 align:start position:0% also developed this gadget of aggregation<00:17:30.480> so<00:17:31.480> we<00:17:31.779> our<00:17:32.080> work<00:17:32.409> realized<00:17:32.770> also 00:17:32.970 --> 00:17:32.980 align:start position:0% aggregation so we our work realized also 00:17:32.980 --> 00:17:35.250 align:start position:0% aggregation so we our work realized also on<00:17:33.340> on<00:17:33.639> bosoms<00:17:34.270> or<00:17:34.450> credits<00:17:34.779> to<00:17:34.929> Bhutan<00:17:35.230> for 00:17:35.250 --> 00:17:35.260 align:start position:0% on on bosoms or credits to Bhutan for 00:17:35.260 --> 00:17:36.180 align:start position:0% on on bosoms or credits to Bhutan for this<00:17:35.559> as<00:17:35.710> well<00:17:35.860> so 00:17:36.180 --> 00:17:36.190 align:start position:0% this as well so 00:17:36.190 --> 00:17:39.000 align:start position:0% this as well so we<00:17:36.280> put<00:17:36.490> everything<00:17:36.900> into<00:17:37.900> into<00:17:38.860> Azure 00:17:39.000 --> 00:17:39.010 align:start position:0% we put everything into into Azure 00:17:39.010 --> 00:17:43.110 align:start position:0% we put everything into into Azure parties<00:17:39.370> and<00:17:39.640> we<00:17:39.940> published<00:17:40.780> ours<00:17:41.140> our<00:17:42.120> repos 00:17:43.110 --> 00:17:43.120 align:start position:0% parties and we published ours our repos 00:17:43.120 --> 00:17:46.290 align:start position:0% parties and we published ours our repos but<00:17:43.680> so<00:17:44.680> yeah<00:17:45.040> the<00:17:45.220> problem<00:17:45.550> with<00:17:45.700> that<00:17:45.730> is<00:17:46.060> we 00:17:46.290 --> 00:17:46.300 align:start position:0% but so yeah the problem with that is we 00:17:46.300 --> 00:17:49.110 align:start position:0% but so yeah the problem with that is we can<00:17:46.420> go<00:17:46.750> mean<00:17:47.260> it<00:17:47.560> for<00:17:48.130> the<00:17:48.250> time<00:17:48.430> being<00:17:48.640> and<00:17:48.790> my 00:17:49.110 --> 00:17:49.120 align:start position:0% can go mean it for the time being and my 00:17:49.120 --> 00:17:51.180 align:start position:0% can go mean it for the time being and my vision<00:17:49.420> is<00:17:49.750> to<00:17:49.870> go<00:17:50.200> maintenance<00:17:50.740> so<00:17:50.950> we<00:17:51.100> are 00:17:51.180 --> 00:17:51.190 align:start position:0% vision is to go maintenance so we are 00:17:51.190 --> 00:17:53.220 align:start position:0% vision is to go maintenance so we are waiting<00:17:51.370> for<00:17:51.610> the<00:17:51.910> the<00:17:52.270> community<00:17:52.930> decision 00:17:53.220 --> 00:17:53.230 align:start position:0% waiting for the the community decision 00:17:53.230 --> 00:17:58.080 align:start position:0% waiting for the the community decision on<00:17:53.640> AIP<00:17:54.990> 1962<00:17:55.990> so<00:17:56.350> if<00:17:56.620> it<00:17:56.800> goes<00:17:57.010> in<00:17:57.280> Istanbul<00:17:57.910> we 00:17:58.080 --> 00:17:58.090 align:start position:0% on AIP 1962 so if it goes in Istanbul we 00:17:58.090 --> 00:18:00.990 align:start position:0% on AIP 1962 so if it goes in Istanbul we can<00:17:58.330> we<00:17:58.870> can<00:17:59.050> have<00:17:59.260> so<00:18:00.130> pre-compile<00:18:00.760> of<00:18:00.880> our 00:18:00.990 --> 00:18:01.000 align:start position:0% can we can have so pre-compile of our 00:18:01.000 --> 00:18:03.840 align:start position:0% can we can have so pre-compile of our pendulum<00:18:01.420> curve<00:18:01.720> and<00:18:01.870> we<00:18:01.990> can<00:18:02.140> do<00:18:02.260> this<00:18:02.670> on<00:18:03.670> the 00:18:03.840 --> 00:18:03.850 align:start position:0% pendulum curve and we can do this on the 00:18:03.850 --> 00:18:06.870 align:start position:0% pendulum curve and we can do this on the minute<00:18:04.180> so<00:18:05.100> and<00:18:06.100> finally 00:18:06.870 --> 00:18:06.880 align:start position:0% minute so and finally 00:18:06.880 --> 00:18:11.040 align:start position:0% minute so and finally so<00:18:07.210> this<00:18:07.540> batching<00:18:09.540> protocol<00:18:10.540> was<00:18:10.840> developed 00:18:11.040 --> 00:18:11.050 align:start position:0% so this batching protocol was developed 00:18:11.050 --> 00:18:13.530 align:start position:0% so this batching protocol was developed in<00:18:11.590> another<00:18:12.040> project<00:18:12.340> called<00:18:12.880> French<00:18:13.300> kiss 00:18:13.530 --> 00:18:13.540 align:start position:0% in another project called French kiss 00:18:13.540 --> 00:18:16.290 align:start position:0% in another project called French kiss and<00:18:13.720> the<00:18:13.810> night<00:18:13.990> zone<00:18:14.200> so<00:18:14.410> this<00:18:14.590> is<00:18:14.740> a<00:18:15.300> private 00:18:16.290 --> 00:18:16.300 align:start position:0% and the night zone so this is a private 00:18:16.300 --> 00:18:20.850 align:start position:0% and the night zone so this is a private swap<00:18:17.580> so<00:18:18.580> that<00:18:18.760> relies<00:18:19.090> on<00:18:19.330> DK<00:18:20.170> snacks<00:18:20.470> proof 00:18:20.850 --> 00:18:20.860 align:start position:0% swap so that relies on DK snacks proof 00:18:20.860 --> 00:18:23.760 align:start position:0% swap so that relies on DK snacks proof batching<00:18:21.370> so<00:18:21.730> in<00:18:22.180> in<00:18:22.720> nightfall<00:18:23.260> now<00:18:23.470> you<00:18:23.530> can 00:18:23.760 --> 00:18:23.770 align:start position:0% batching so in in nightfall now you can 00:18:23.770 --> 00:18:27.240 align:start position:0% batching so in in nightfall now you can have<00:18:23.920> you<00:18:24.070> can<00:18:24.220> do<00:18:24.400> transfer<00:18:25.440> now<00:18:26.440> you<00:18:26.980> can<00:18:27.130> do 00:18:27.240 --> 00:18:27.250 align:start position:0% have you can do transfer now you can do 00:18:27.250 --> 00:18:29.490 align:start position:0% have you can do transfer now you can do transfers<00:18:27.640> in<00:18:27.790> both<00:18:27.970> ways<00:18:28.150> so<00:18:28.360> it<00:18:28.510> is<00:18:28.720> a<00:18:28.990> swap 00:18:29.490 --> 00:18:29.500 align:start position:0% transfers in both ways so it is a swap 00:18:29.500 --> 00:18:32.370 align:start position:0% transfers in both ways so it is a swap and<00:18:29.530> you<00:18:29.770> will<00:18:29.920> have<00:18:30.100> three<00:18:30.610> pools<00:18:31.030> so<00:18:31.540> one<00:18:32.170> of 00:18:32.370 --> 00:18:32.380 align:start position:0% and you will have three pools so one of 00:18:32.380 --> 00:18:34.410 align:start position:0% and you will have three pools so one of the<00:18:32.530> first<00:18:32.710> transfer<00:18:33.190> is<00:18:33.670> the<00:18:33.730> second<00:18:34.180> or<00:18:34.300> the 00:18:34.410 --> 00:18:34.420 align:start position:0% the first transfer is the second or the 00:18:34.420 --> 00:18:37.290 align:start position:0% the first transfer is the second or the other<00:18:34.570> transfer<00:18:34.960> and<00:18:35.200> one<00:18:35.560> matching<00:18:36.100> ZK<00:18:37.060> slack 00:18:37.290 --> 00:18:37.300 align:start position:0% other transfer and one matching ZK slack 00:18:37.300 --> 00:18:39.690 align:start position:0% other transfer and one matching ZK slack proof<00:18:37.540> and<00:18:37.720> we<00:18:37.990> aggregate<00:18:38.500> those<00:18:38.800> ripples<00:18:39.430> and 00:18:39.690 --> 00:18:39.700 align:start position:0% proof and we aggregate those ripples and 00:18:39.700 --> 00:18:42.450 align:start position:0% proof and we aggregate those ripples and we<00:18:40.570> push<00:18:40.870> to<00:18:41.110> the<00:18:41.230> shield<00:18:41.440> contract<00:18:41.830> only<00:18:42.010> one 00:18:42.450 --> 00:18:42.460 align:start position:0% we push to the shield contract only one 00:18:42.460 --> 00:18:46.530 align:start position:0% we push to the shield contract only one one<00:18:43.000> proof<00:18:43.210> that<00:18:43.360> verifies<00:18:43.870> them<00:18:44.680> all<00:18:44.920> so<00:18:45.540> the 00:18:46.530 --> 00:18:46.540 align:start position:0% one proof that verifies them all so the 00:18:46.540 --> 00:18:49.740 align:start position:0% one proof that verifies them all so the the<00:18:47.170> repos<00:18:47.470> are<00:18:47.680> public<00:18:48.070> any<00:18:48.850> contribution<00:18:49.630> is 00:18:49.740 --> 00:18:49.750 align:start position:0% the repos are public any contribution is 00:18:49.750 --> 00:18:55.340 align:start position:0% the repos are public any contribution is welcome<00:18:50.530> so<00:18:50.740> here<00:18:51.640> are<00:18:52.080> the<00:18:53.080> links<00:18:53.260> and<00:18:54.060> so<00:18:55.060> I 00:18:55.340 --> 00:18:55.350 align:start position:0% welcome so here are the links and so I 00:18:55.350 --> 00:18:58.140 align:start position:0% welcome so here are the links and so I think<00:18:56.350> that<00:18:56.590> that's<00:18:56.860> it<00:18:57.130> for<00:18:57.280> me<00:18:57.370> thank<00:18:57.850> you 00:18:58.140 --> 00:18:58.150 align:start position:0% think that that's it for me thank you 00:18:58.150 --> 00:18:59.830 align:start position:0% think that that's it for me thank you so<00:18:58.870> if<00:18:59.020> you<00:18:59.080> have<00:18:59.200> any<00:18:59.320> questions 00:18:59.830 --> 00:18:59.840 align:start position:0% so if you have any questions 00:18:59.840 --> 00:19:08.750 align:start position:0% so if you have any questions [Applause] 00:19:08.750 --> 00:19:08.760 align:start position:0% 00:19:08.760 --> 00:19:10.820 align:start position:0% you