WEBVTT Kind: captions Language: en 00:00:00.030 --> 00:00:02.600 align:start position:0% so<00:00:00.420> I<00:00:01.050> will<00:00:01.260> try<00:00:01.439> to<00:00:01.469> make<00:00:01.680> it<00:00:01.709> as<00:00:02.010> technical<00:00:02.520> as 00:00:02.600 --> 00:00:02.610 align:start position:0% so I will try to make it as technical as 00:00:02.610 --> 00:00:04.820 align:start position:0% so I will try to make it as technical as possible<00:00:03.030> so<00:00:03.300> apologies<00:00:04.020> if<00:00:04.230> it<00:00:04.440> sounds<00:00:04.710> like 00:00:04.820 --> 00:00:04.830 align:start position:0% possible so apologies if it sounds like 00:00:04.830 --> 00:00:06.950 align:start position:0% possible so apologies if it sounds like too<00:00:05.040> deep<00:00:05.250> of<00:00:05.400> a<00:00:05.520> dive<00:00:05.700> but<00:00:06.390> I<00:00:06.450> want<00:00:06.660> everybody 00:00:06.950 --> 00:00:06.960 align:start position:0% too deep of a dive but I want everybody 00:00:06.960 --> 00:00:09.500 align:start position:0% too deep of a dive but I want everybody so<00:00:07.740> like<00:00:08.040> you<00:00:08.220> have<00:00:08.250> I<00:00:08.550> have<00:00:08.700> 20<00:00:09.000> minutes<00:00:09.030> so<00:00:09.389> in 00:00:09.500 --> 00:00:09.510 align:start position:0% so like you have I have 20 minutes so in 00:00:09.510 --> 00:00:11.270 align:start position:0% so like you have I have 20 minutes so in 20<00:00:09.750> minutes<00:00:10.050> you'll<00:00:10.650> learn<00:00:10.800> what<00:00:10.980> plasma 00:00:11.270 --> 00:00:11.280 align:start position:0% 20 minutes you'll learn what plasma 00:00:11.280 --> 00:00:13.700 align:start position:0% 20 minutes you'll learn what plasma cache<00:00:11.490> is<00:00:11.670> how<00:00:11.910> it<00:00:12.030> works<00:00:12.290> where<00:00:13.290> it<00:00:13.380> works 00:00:13.700 --> 00:00:13.710 align:start position:0% cache is how it works where it works 00:00:13.710 --> 00:00:16.150 align:start position:0% cache is how it works where it works where<00:00:14.040> it<00:00:14.130> doesn't<00:00:14.340> and<00:00:14.730> why<00:00:15.150> it's<00:00:15.299> the<00:00:15.480> most 00:00:16.150 --> 00:00:16.160 align:start position:0% where it doesn't and why it's the most 00:00:16.160 --> 00:00:19.550 align:start position:0% where it doesn't and why it's the most like<00:00:17.160> viable<00:00:17.609> like<00:00:17.789> solutions<00:00:18.390> currently<00:00:18.840> at 00:00:19.550 --> 00:00:19.560 align:start position:0% like viable like solutions currently at 00:00:19.560 --> 00:00:21.170 align:start position:0% like viable like solutions currently at least<00:00:19.830> at<00:00:19.949> the<00:00:20.130> current<00:00:20.460> research<00:00:20.850> levels 00:00:21.170 --> 00:00:21.180 align:start position:0% least at the current research levels 00:00:21.180 --> 00:00:22.759 align:start position:0% least at the current research levels because<00:00:21.480> all<00:00:21.779> the<00:00:21.930> other<00:00:22.050> solutions<00:00:22.529> I'm<00:00:22.650> of 00:00:22.759 --> 00:00:22.769 align:start position:0% because all the other solutions I'm of 00:00:22.769 --> 00:00:24.800 align:start position:0% because all the other solutions I'm of the<00:00:22.920> personal<00:00:23.910> opinion<00:00:24.269> that<00:00:24.449> they're<00:00:24.570> quite 00:00:24.800 --> 00:00:24.810 align:start position:0% the personal opinion that they're quite 00:00:24.810 --> 00:00:28.070 align:start position:0% the personal opinion that they're quite let's<00:00:25.410> say<00:00:25.670> optimistic<00:00:26.670> and<00:00:27.029> ambitious<00:00:27.869> and 00:00:28.070 --> 00:00:28.080 align:start position:0% let's say optimistic and ambitious and 00:00:28.080 --> 00:00:29.359 align:start position:0% let's say optimistic and ambitious and it<00:00:28.170> will<00:00:28.289> take<00:00:28.470> some<00:00:28.650> time<00:00:28.680> until<00:00:28.949> we<00:00:29.220> have 00:00:29.359 --> 00:00:29.369 align:start position:0% it will take some time until we have 00:00:29.369 --> 00:00:32.620 align:start position:0% it will take some time until we have them<00:00:29.490> like<00:00:29.670> in<00:00:29.789> production<00:00:30.269> so<00:00:31.019> much<00:00:31.949> late 00:00:32.620 --> 00:00:32.630 align:start position:0% them like in production so much late 00:00:32.630 --> 00:00:36.500 align:start position:0% them like in production so much late yeah<00:00:33.630> so<00:00:34.410> who<00:00:34.950> knows<00:00:35.130> here<00:00:35.489> how<00:00:35.940> plasma<00:00:36.300> cash 00:00:36.500 --> 00:00:36.510 align:start position:0% yeah so who knows here how plasma cash 00:00:36.510 --> 00:00:39.049 align:start position:0% yeah so who knows here how plasma cash works<00:00:36.989> like<00:00:37.320> has<00:00:37.860> tried<00:00:38.160> implementing<00:00:38.640> it<00:00:38.850> in 00:00:39.049 --> 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original<00:00:50.610> plasma 00:00:50.900 --> 00:00:50.910 align:start position:0% plasma constructions the original plasma 00:00:50.910 --> 00:00:52.880 align:start position:0% plasma constructions the original plasma paper<00:00:51.090> they<00:00:51.750> it<00:00:51.930> was<00:00:52.050> very<00:00:52.289> very<00:00:52.410> important 00:00:52.880 --> 00:00:52.890 align:start position:0% paper they it was very very important 00:00:52.890 --> 00:00:54.170 align:start position:0% paper they it was very very important because<00:00:53.039> it<00:00:53.219> gave<00:00:53.370> the<00:00:53.520> notion<00:00:53.850> of<00:00:54.000> what 00:00:54.170 --> 00:00:54.180 align:start position:0% because it gave the notion of what 00:00:54.180 --> 00:00:56.959 align:start position:0% because it gave the notion of what plasma<00:00:54.510> is<00:00:54.899> it<00:00:55.199> should<00:00:55.410> be<00:00:55.559> like<00:00:55.980> satoshis 00:00:56.959 --> 00:00:56.969 align:start position:0% plasma is it should be like satoshis 00:00:56.969 --> 00:00:58.400 align:start position:0% plasma is it should be like satoshis vision<00:00:57.239> thing<00:00:57.480> the<00:00:57.629> Telex<00:00:57.899> region<00:00:58.170> whatever 00:00:58.400 --> 00:00:58.410 align:start position:0% vision thing the Telex region whatever 00:00:58.410 --> 00:01:01.340 align:start position:0% vision thing the Telex region whatever you<00:00:58.500> wanna<00:00:58.649> call<00:00:58.710> it<00:00:58.859> however<00:01:00.079> it<00:01:01.079> was<00:01:01.199> like 00:01:01.340 --> 00:01:01.350 align:start position:0% you wanna call it however it was like 00:01:01.350 --> 00:01:02.689 align:start position:0% you wanna call it however it was like totally<00:01:01.680> unrealistic<00:01:02.070> has<00:01:02.399> it's<00:01:02.579> called 00:01:02.689 --> 00:01:02.699 align:start position:0% totally unrealistic has it's called 00:01:02.699 --> 00:01:04.670 align:start position:0% totally unrealistic has it's called MapReduce<00:01:03.239> construction<00:01:04.170> it<00:01:04.320> had<00:01:04.470> like<00:01:04.650> a 00:01:04.670 --> 00:01:04.680 align:start position:0% MapReduce construction it had like a 00:01:04.680 --> 00:01:07.039 align:start position:0% MapReduce construction it had like a bunch<00:01:04.890> of<00:01:05.070> like<00:01:05.309> it<00:01:05.640> they<00:01:06.090> dream<00:01:06.360> of<00:01:06.570> the<00:01:06.750> three 00:01:07.039 --> 00:01:07.049 align:start position:0% bunch of like it they dream of the three 00:01:07.049 --> 00:01:08.179 align:start position:0% bunch of like it they dream of the three of<00:01:07.200> chains<00:01:07.470> and<00:01:07.650> now<00:01:07.740> everything 00:01:08.179 --> 00:01:08.189 align:start position:0% of chains and now everything 00:01:08.189 --> 00:01:09.710 align:start position:0% of chains and now everything communicating<00:01:08.729> each<00:01:08.820> other<00:01:09.030> like<00:01:09.570> the 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position:0% this talk will be highly opinionated on what<00:01:15.150> I'm<00:01:15.299> saying<00:01:15.780> how<00:01:16.020> plasma<00:01:16.439> is<00:01:16.560> involved 00:01:16.969 --> 00:01:16.979 align:start position:0% what I'm saying how plasma is involved 00:01:16.979 --> 00:01:19.039 align:start position:0% what I'm saying how plasma is involved so<00:01:17.430> take<00:01:17.909> this<00:01:18.090> with<00:01:18.299> a<00:01:18.360> grain<00:01:18.420> of<00:01:18.600> salt<00:01:18.840> this 00:01:19.039 --> 00:01:19.049 align:start position:0% so take this with a grain of salt this 00:01:19.049 --> 00:01:21.170 align:start position:0% so take this with a grain of salt this is<00:01:19.170> not<00:01:19.320> expressing<00:01:19.740> their<00:01:19.920> general<00:01:20.909> let's 00:01:21.170 --> 00:01:21.180 align:start position:0% is not expressing their general let's 00:01:21.180 --> 00:01:24.620 align:start position:0% is not expressing their general let's say<00:01:21.710> opinions<00:01:22.710> of<00:01:22.830> the<00:01:22.950> plasma<00:01:23.600> community<00:01:24.600> I 00:01:24.620 --> 00:01:24.630 align:start position:0% say opinions of the plasma community I 00:01:24.630 --> 00:01:34.730 align:start position:0% say opinions of the plasma community I guess<00:01:25.310> so<00:01:26.420> yeah<00:01:28.729> test<00:01:29.729> test<00:01:29.939> one<00:01:30.240> two<00:01:31.640> and<00:01:33.740> the 00:01:34.730 --> 00:01:34.740 align:start position:0% guess so yeah test test one two and the 00:01:34.740 --> 00:01:37.609 align:start position:0% guess so yeah test test one two and the point<00:01:34.920> is<00:01:35.159> okay<00:01:35.310> anyway<00:01:36.210> the<00:01:37.140> thing<00:01:37.290> is<00:01:37.320> that 00:01:37.609 --> 00:01:37.619 align:start position:0% point is okay anyway the thing is that 00:01:37.619 --> 00:01:39.590 align:start position:0% point is okay anyway the thing is that the<00:01:37.710> plasma<00:01:38.070> it<00:01:38.130> works<00:01:38.310> like<00:01:38.549> with<00:01:38.850> a<00:01:38.880> classic 00:01:39.590 --> 00:01:39.600 align:start position:0% the plasma it works like with a classic 00:01:39.600 --> 00:01:41.330 align:start position:0% the plasma it works like with a classic side<00:01:39.840> change<00:01:40.079> transaction<00:01:40.590> you<00:01:40.680> have<00:01:40.829> like<00:01:41.100> a 00:01:41.330 --> 00:01:41.340 align:start position:0% side change transaction you have like a 00:01:41.340 --> 00:01:42.319 align:start position:0% side change transaction you have like a mention<00:01:41.759> the<00:01:41.909> sidechain 00:01:42.319 --> 00:01:42.329 align:start position:0% mention the sidechain 00:01:42.329 --> 00:01:44.030 align:start position:0% mention the sidechain you<00:01:42.659> deposit<00:01:43.079> funds<00:01:43.320> you<00:01:43.470> do<00:01:43.649> whatever<00:01:43.799> you 00:01:44.030 --> 00:01:44.040 align:start position:0% you deposit funds you do whatever you 00:01:44.040 --> 00:01:45.800 align:start position:0% you deposit funds you do whatever you like<00:01:44.070> on<00:01:44.340> the<00:01:44.399> side<00:01:44.549> chain<00:01:44.579> you<00:01:45.180> can<00:01:45.299> take<00:01:45.659> them 00:01:45.800 --> 00:01:45.810 align:start position:0% like on the side chain you can take them 00:01:45.810 --> 00:01:47.719 align:start position:0% like on the side chain you can take them out<00:01:45.899> but<00:01:46.439> the<00:01:46.530> thing<00:01:46.680> is<00:01:46.710> that<00:01:46.890> in<00:01:47.399> order<00:01:47.670> to 00:01:47.719 --> 00:01:47.729 align:start position:0% out but the thing is that in order to 00:01:47.729 --> 00:01:49.399 align:start position:0% out but the thing is that in order to get<00:01:47.850> scalability<00:01:48.479> we<00:01:48.689> actually<00:01:48.990> need<00:01:49.140> a 00:01:49.399 --> 00:01:49.409 align:start position:0% get scalability we actually need a 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my<00:01:56.369> opinion<00:01:56.729> by<00:01:56.850> definition<00:01:57.149> you<00:01:57.869> need<00:01:58.079> to 00:01:58.160 --> 00:01:58.170 align:start position:0% my opinion by definition you need to 00:01:58.170 --> 00:02:00.050 align:start position:0% my opinion by definition you need to like<00:01:58.320> make<00:01:58.530> some<00:01:58.740> compromise<00:01:59.189> on<00:01:59.369> either<00:01:59.460> the 00:02:00.050 --> 00:02:00.060 align:start position:0% like make some compromise on either the 00:02:00.060 --> 00:02:01.639 align:start position:0% like make some compromise on either the internalization<00:02:00.420> or<00:02:00.840> the<00:02:00.990> security<00:02:01.350> aspect 00:02:01.639 --> 00:02:01.649 align:start position:0% internalization or the security aspect 00:02:01.649 --> 00:02:04.429 align:start position:0% internalization or the security aspect and<00:02:01.979> so<00:02:02.640> what<00:02:03.390> we're<00:02:03.540> doing<00:02:03.810> is<00:02:03.960> that<00:02:03.990> with 00:02:04.429 --> 00:02:04.439 align:start position:0% and so what we're doing is that with 00:02:04.439 --> 00:02:06.109 align:start position:0% and so what we're doing is that with plasma<00:02:04.649> you<00:02:04.979> construct<00:02:05.490> essentially<00:02:05.969> an 00:02:06.109 --> 00:02:06.119 align:start position:0% plasma you construct essentially an 00:02:06.119 --> 00:02:08.449 align:start position:0% plasma you construct essentially an non-custodial<00:02:06.530> sidechain<00:02:07.560> because<00:02:08.220> at<00:02:08.340> any 00:02:08.449 --> 00:02:08.459 align:start position:0% non-custodial sidechain because at any 00:02:08.459 --> 00:02:09.650 align:start position:0% non-custodial sidechain because at any given<00:02:08.700> point<00:02:08.879> in<00:02:09.060> time<00:02:09.090> if<00:02:09.360> there's<00:02:09.509> some 00:02:09.650 --> 00:02:09.660 align:start position:0% given point in time if there's some 00:02:09.660 --> 00:02:11.540 align:start position:0% given point in time if there's some involved<00:02:10.020> state<00:02:10.229> transition<00:02:10.709> you<00:02:11.190> can<00:02:11.220> go 00:02:11.540 --> 00:02:11.550 align:start position:0% involved state transition you can go 00:02:11.550 --> 00:02:13.370 align:start position:0% involved state transition you can go through<00:02:11.790> this<00:02:11.910> exit<00:02:12.390> game<00:02:12.690> and 00:02:13.370 --> 00:02:13.380 align:start position:0% through this exit game and 00:02:13.380 --> 00:02:15.290 align:start position:0% through this exit game and can<00:02:13.500> like<00:02:13.710> just<00:02:13.980> get<00:02:14.250> your<00:02:14.340> money<00:02:14.520> out<00:02:14.610> within 00:02:15.290 --> 00:02:15.300 align:start position:0% can like just get your money out within 00:02:15.300 --> 00:02:20.500 align:start position:0% can like just get your money out within a<00:02:15.480> certain<00:02:16.490> challenge<00:02:17.490> period<00:02:18.020> yeah<00:02:19.020> maybe 00:02:20.500 --> 00:02:20.510 align:start position:0% a certain challenge period yeah maybe 00:02:20.510 --> 00:02:23.360 align:start position:0% a certain challenge period yeah maybe I'm<00:02:21.510> not<00:02:21.690> exactly<00:02:21.960> sure<00:02:22.110> like<00:02:22.470> yeah<00:02:22.800> I<00:02:23.010> have 00:02:23.360 --> 00:02:23.370 align:start position:0% I'm not exactly sure like yeah I have 00:02:23.370 --> 00:02:25.700 align:start position:0% I'm not exactly sure like yeah I have like<00:02:23.670> a<00:02:23.700> bunch<00:02:23.880> of<00:02:23.970> nice<00:02:24.120> like<00:02:24.410> shapes<00:02:25.410> and<00:02:25.590> all 00:02:25.700 --> 00:02:25.710 align:start position:0% like a bunch of nice like shapes and all 00:02:25.710 --> 00:02:27.950 align:start position:0% like a bunch of nice like shapes and all that<00:02:25.920> to<00:02:26.040> explain<00:02:26.340> it<00:02:26.520> so<00:02:27.120> like<00:02:27.300> the<00:02:27.810> whole 00:02:27.950 --> 00:02:27.960 align:start position:0% that to explain it so like the whole 00:02:27.960 --> 00:02:30.680 align:start position:0% that to explain it so like the whole difference<00:02:28.430> between<00:02:29.430> like<00:02:29.610> plasma<00:02:29.850> cash<00:02:30.420> and 00:02:30.680 --> 00:02:30.690 align:start position:0% difference between like plasma cash and 00:02:30.690 --> 00:02:32.600 align:start position:0% difference between like plasma cash and like<00:02:30.840> the<00:02:31.020> other<00:02:31.230> variants<00:02:31.680> it's<00:02:32.220> because<00:02:32.490> the 00:02:32.600 --> 00:02:32.610 align:start position:0% like the other variants it's because the 00:02:32.610 --> 00:02:34.370 align:start position:0% like the other variants it's because the plasma<00:02:32.760> casts<00:02:33.030> it's<00:02:33.210> non<00:02:33.450> fungible<00:02:33.810> with<00:02:33.960> it 00:02:34.370 --> 00:02:34.380 align:start position:0% plasma casts it's non fungible with it 00:02:34.380 --> 00:02:36.500 align:start position:0% plasma casts it's non fungible with it is<00:02:34.500> in<00:02:34.770> the<00:02:35.040> family<00:02:35.700> let's<00:02:35.940> say<00:02:36.030> of<00:02:36.150> plasma 00:02:36.500 --> 00:02:36.510 align:start position:0% is in the family let's say of plasma 00:02:36.510 --> 00:02:40.280 align:start position:0% is in the family let's say of plasma protocols<00:02:37.290> that<00:02:37.860> it's<00:02:38.750> the<00:02:39.750> securities 00:02:40.280 --> 00:02:40.290 align:start position:0% protocols that it's the securities 00:02:40.290 --> 00:02:42.140 align:start position:0% protocols that it's the securities enforced<00:02:40.710> by<00:02:40.830> the<00:02:40.860> non<00:02:41.190> fungibility<00:02:41.580> of<00:02:41.880> route 00:02:42.140 --> 00:02:42.150 align:start position:0% enforced by the non fungibility of route 00:02:42.150 --> 00:02:44.300 align:start position:0% enforced by the non fungibility of route change<00:02:42.390> deposits<00:02:42.840> so<00:02:43.410> each<00:02:43.590> coin<00:02:43.800> you<00:02:43.950> deposit 00:02:44.300 --> 00:02:44.310 align:start position:0% change deposits so each coin you deposit 00:02:44.310 --> 00:02:46.010 align:start position:0% change deposits so each coin you deposit it<00:02:44.370> has<00:02:44.610> a<00:02:44.640> unique<00:02:44.940> ID<00:02:45.120> it's<00:02:45.600> different<00:02:45.900> from 00:02:46.010 --> 00:02:46.020 align:start position:0% it has a unique ID it's different from 00:02:46.020 --> 00:02:48.050 align:start position:0% it has a unique ID it's different from each<00:02:46.260> other<00:02:46.380> and<00:02:46.830> you<00:02:47.310> can<00:02:47.460> use<00:02:47.640> it<00:02:47.670> to<00:02:47.850> have<00:02:48.030> a 00:02:48.050 --> 00:02:48.060 align:start position:0% each other and you can use it to have a 00:02:48.060 --> 00:02:50.660 align:start position:0% each other and you can use it to have a sort<00:02:48.330> of<00:02:48.540> like<00:02:49.260> a<00:02:49.500> single<00:02:49.950> exit<00:02:50.220> game<00:02:50.400> where 00:02:50.660 --> 00:02:50.670 align:start position:0% sort of like a single exit game where 00:02:50.670 --> 00:02:52.580 align:start position:0% sort of like a single exit game where like<00:02:50.940> each<00:02:51.090> coin<00:02:51.330> is<00:02:51.720> unique<00:02:51.780> you<00:02:52.200> don't<00:02:52.380> have 00:02:52.580 --> 00:02:52.590 align:start position:0% like each coin is unique you don't have 00:02:52.590 --> 00:02:54.610 align:start position:0% like each coin is unique you don't have to<00:02:52.710> use<00:02:53.160> the<00:02:53.310> whole<00:02:53.490> priority<00:02:54.330> queue 00:02:54.610 --> 00:02:54.620 align:start position:0% to use the whole priority queue 00:02:54.620 --> 00:02:58.900 align:start position:0% to use the whole priority queue construction<00:02:55.620> to<00:02:56.190> go<00:02:56.670> through<00:02:56.940> your<00:02:57.500> to<00:02:58.500> make 00:02:58.900 --> 00:02:58.910 align:start position:0% construction to go through your to make 00:02:58.910 --> 00:03:01.400 align:start position:0% construction to go through your to make multiple<00:02:59.910> exits<00:03:00.330> there<00:03:00.780> is<00:03:00.870> no<00:03:00.990> need<00:03:01.170> for<00:03:01.200> the 00:03:01.400 --> 00:03:01.410 align:start position:0% multiple exits there is no need for the 00:03:01.410 --> 00:03:03.830 align:start position:0% multiple exits there is no need for the masses<00:03:01.830> exits<00:03:02.490> construction<00:03:03.030> which<00:03:03.570> is<00:03:03.690> like 00:03:03.830 --> 00:03:03.840 align:start position:0% masses exits construction which is like 00:03:03.840 --> 00:03:06.080 align:start position:0% masses exits construction which is like very<00:03:03.870> important<00:03:04.410> because<00:03:04.560> currently<00:03:05.040> and<00:03:05.520> all 00:03:06.080 --> 00:03:06.090 align:start position:0% very important because currently and all 00:03:06.090 --> 00:03:08.300 align:start position:0% very important because currently and all the<00:03:06.510> other<00:03:06.660> plasma<00:03:07.290> non<00:03:07.590> plasma<00:03:07.980> cash 00:03:08.300 --> 00:03:08.310 align:start position:0% the other plasma non plasma cash 00:03:08.310 --> 00:03:10.940 align:start position:0% the other plasma non plasma cash variants<00:03:09.060> designs<00:03:09.420> they<00:03:10.020> require<00:03:10.320> mass<00:03:10.530> exits 00:03:10.940 --> 00:03:10.950 align:start position:0% variants designs they require mass exits 00:03:10.950 --> 00:03:13.130 align:start position:0% variants designs they require mass exits and<00:03:11.100> I<00:03:11.580> will<00:03:11.700> make<00:03:11.850> the<00:03:11.970> claim<00:03:12.150> that<00:03:12.210> mass<00:03:12.810> exit 00:03:13.130 --> 00:03:13.140 align:start position:0% and I will make the claim that mass exit 00:03:13.140 --> 00:03:15.800 align:start position:0% and I will make the claim that mass exit currently<00:03:13.500> aren't<00:03:13.710> viable<00:03:14.130> due<00:03:14.640> to<00:03:14.790> how<00:03:15.000> like 00:03:15.800 --> 00:03:15.810 align:start position:0% currently aren't viable due to how like 00:03:15.810 --> 00:03:17.480 align:start position:0% currently aren't viable due to how like let's<00:03:16.320> say<00:03:16.410> primitive<00:03:16.830> like<00:03:16.980> our<00:03:17.250> signature 00:03:17.480 --> 00:03:17.490 align:start position:0% let's say primitive like our signature 00:03:17.490 --> 00:03:19.850 align:start position:0% let's say primitive like our signature aggregation<00:03:18.300> works<00:03:18.600> on<00:03:18.810> the<00:03:18.990> we<00:03:19.650> cannot 00:03:19.850 --> 00:03:19.860 align:start position:0% aggregation works on the we cannot 00:03:19.860 --> 00:03:23.030 align:start position:0% aggregation works on the we cannot verify<00:03:20.100> enough<00:03:20.580> even<00:03:21.210> if<00:03:21.300> you<00:03:21.360> do<00:03:21.510> a<00:03:22.040> multi 00:03:23.030 --> 00:03:23.040 align:start position:0% verify enough even if you do a multi 00:03:23.040 --> 00:03:24.890 align:start position:0% verify enough even if you do a multi signature<00:03:23.460> and<00:03:23.730> you<00:03:24.000> compress<00:03:24.360> it<00:03:24.390> and<00:03:24.630> you<00:03:24.750> do 00:03:24.890 --> 00:03:24.900 align:start position:0% signature and you compress it and you do 00:03:24.900 --> 00:03:27.020 align:start position:0% signature and you compress it and you do a<00:03:24.930> threshold<00:03:25.260> signature<00:03:25.800> on<00:03:26.190> all<00:03:26.400> of<00:03:26.550> them<00:03:26.700> you 00:03:27.020 --> 00:03:27.030 align:start position:0% a threshold signature on all of them you 00:03:27.030 --> 00:03:28.520 align:start position:0% a threshold signature on all of them you cannot<00:03:27.270> actually<00:03:27.540> like<00:03:27.900> verify<00:03:28.260> the<00:03:28.320> whole 00:03:28.520 --> 00:03:28.530 align:start position:0% cannot actually like verify the whole 00:03:28.530 --> 00:03:31.610 align:start position:0% cannot actually like verify the whole thing<00:03:28.740> on<00:03:28.980> the<00:03:29.160> EVM<00:03:29.460> yeah<00:03:30.060> and<00:03:30.240> like<00:03:30.480> okay<00:03:31.170> okay 00:03:31.610 --> 00:03:31.620 align:start position:0% thing on the EVM yeah and like okay okay 00:03:31.620 --> 00:03:34.370 align:start position:0% thing on the EVM yeah and like okay okay so<00:03:32.030> Jeff<00:03:33.030> just<00:03:33.210> said<00:03:33.630> like<00:03:33.810> explain<00:03:34.200> why 00:03:34.370 --> 00:03:34.380 align:start position:0% so Jeff just said like explain why 00:03:34.380 --> 00:03:36.140 align:start position:0% so Jeff just said like explain why storks<00:03:34.770> are<00:03:34.920> better<00:03:35.160> than<00:03:35.370> XD<00:03:35.880> based 00:03:36.140 --> 00:03:36.150 align:start position:0% storks are better than XD based 00:03:36.150 --> 00:03:39.470 align:start position:0% storks are better than XD based checkpoints<00:03:36.750> and<00:03:36.960> whatever<00:03:37.500> or<00:03:37.860> Isolators<00:03:38.820> so 00:03:39.470 --> 00:03:39.480 align:start position:0% checkpoints and whatever or Isolators so 00:03:39.480 --> 00:03:41.630 align:start position:0% checkpoints and whatever or Isolators so first<00:03:39.750> of<00:03:39.870> all<00:03:39.990> quantum<00:03:40.560> resistance<00:03:41.010> okay<00:03:41.580> so 00:03:41.630 --> 00:03:41.640 align:start position:0% first of all quantum resistance okay so 00:03:41.640 --> 00:03:44.690 align:start position:0% first of all quantum resistance okay so the<00:03:41.970> argument<00:03:42.390> is<00:03:42.770> plasma<00:03:43.770> cash<00:03:44.070> has<00:03:44.400> a<00:03:44.430> very 00:03:44.690 --> 00:03:44.700 align:start position:0% the argument is plasma cash has a very 00:03:44.700 --> 00:03:47.690 align:start position:0% the argument is plasma cash has a very big<00:03:44.910> let's<00:03:45.540> say<00:03:45.630> disadvantage<00:03:46.200> that<00:03:46.700> whenever 00:03:47.690 --> 00:03:47.700 align:start position:0% big let's say disadvantage that whenever 00:03:47.700 --> 00:03:49.970 align:start position:0% big let's say disadvantage that whenever you<00:03:47.820> passing<00:03:48.180> coins<00:03:48.390> around<00:03:48.480> and<00:03:48.959> as<00:03:49.620> the<00:03:49.800> side 00:03:49.970 --> 00:03:49.980 align:start position:0% you passing coins around and as the side 00:03:49.980 --> 00:03:52.340 align:start position:0% you passing coins around and as the side chain<00:03:50.160> for<00:03:50.340> the<00:03:50.430> progresses<00:03:51.390> the<00:03:51.959> coin<00:03:52.170> Hugh 00:03:52.340 --> 00:03:52.350 align:start position:0% chain for the progresses the coin Hugh 00:03:52.350 --> 00:03:55.190 align:start position:0% chain for the progresses the coin Hugh story<00:03:52.590> grows<00:03:52.800> linearly<00:03:53.330> so<00:03:54.330> I<00:03:54.360> have<00:03:54.720> 10<00:03:54.959> blocks 00:03:55.190 --> 00:03:55.200 align:start position:0% story grows linearly so I have 10 blocks 00:03:55.200 --> 00:03:56.870 align:start position:0% story grows linearly so I have 10 blocks I<00:03:55.350> need<00:03:55.560> to<00:03:55.650> pass<00:03:55.800> around<00:03:55.950> 10<00:03:56.250> blocks<00:03:56.490> worth<00:03:56.670> of 00:03:56.870 --> 00:03:56.880 align:start position:0% I need to pass around 10 blocks worth of 00:03:56.880 --> 00:03:58.430 align:start position:0% I need to pass around 10 blocks worth of proofs<00:03:57.420> and<00:03:57.870> this<00:03:58.020> sucks 00:03:58.430 --> 00:03:58.440 align:start position:0% proofs and this sucks 00:03:58.440 --> 00:04:01.100 align:start position:0% proofs and this sucks so<00:03:58.980> what<00:03:59.250> we<00:03:59.370> can<00:03:59.490> do<00:03:59.640> is<00:03:59.760> one<00:04:00.060> can<00:04:00.660> just<00:04:00.870> pass 00:04:01.100 --> 00:04:01.110 align:start position:0% so what we can do is one can just pass 00:04:01.110 --> 00:04:02.810 align:start position:0% so what we can do is one can just pass around<00:04:01.260> the<00:04:01.500> proofs<00:04:01.709> -<00:04:02.370> we<00:04:02.550> can<00:04:02.700> do 00:04:02.810 --> 00:04:02.820 align:start position:0% around the proofs - we can do 00:04:02.820 --> 00:04:04.610 align:start position:0% around the proofs - we can do checkpoints<00:04:03.360> but<00:04:03.600> which<00:04:04.230> is<00:04:04.350> a<00:04:04.380> very 00:04:04.610 --> 00:04:04.620 align:start position:0% checkpoints but which is a very 00:04:04.620 --> 00:04:06.650 align:start position:0% checkpoints but which is a very brilliant<00:04:04.830> construction<00:04:05.550> by<00:04:05.670> Kelvin<00:04:06.030> however 00:04:06.650 --> 00:04:06.660 align:start position:0% brilliant construction by Kelvin however 00:04:06.660 --> 00:04:08.270 align:start position:0% brilliant construction by Kelvin however let's<00:04:07.140> thing<00:04:07.320> it's<00:04:07.500> it<00:04:07.740> requires<00:04:08.040> so<00:04:08.160> much 00:04:08.270 --> 00:04:08.280 align:start position:0% let's thing it's it requires so much 00:04:08.280 --> 00:04:10.340 align:start position:0% let's thing it's it requires so much social<00:04:08.490> coordination<00:04:09.240> it's<00:04:09.810> like<00:04:10.020> on<00:04:10.200> the 00:04:10.340 --> 00:04:10.350 align:start position:0% social coordination it's like on the 00:04:10.350 --> 00:04:12.949 align:start position:0% social coordination it's like on the level<00:04:10.650> of<00:04:10.740> the<00:04:10.830> mass<00:04:11.010> exits<00:04:11.400> and<00:04:11.570> I'm<00:04:12.570> not<00:04:12.810> sure 00:04:12.949 --> 00:04:12.959 align:start position:0% level of the mass exits and I'm not sure 00:04:12.959 --> 00:04:15.710 align:start position:0% level of the mass exits and I'm not sure if<00:04:13.110> it<00:04:13.200> works<00:04:13.350> so<00:04:14.190> on<00:04:14.940> the<00:04:15.060> contrary<00:04:15.180> what<00:04:15.630> you 00:04:15.710 --> 00:04:15.720 align:start position:0% if it works so on the contrary what you 00:04:15.720 --> 00:04:17.330 align:start position:0% if it works so on the contrary what you can<00:04:15.870> do<00:04:15.990> is<00:04:16.109> that<00:04:16.230> you<00:04:16.620> can<00:04:16.709> use<00:04:16.920> the<00:04:17.040> RSA 00:04:17.330 --> 00:04:17.340 align:start position:0% can do is that you can use the RSA 00:04:17.340 --> 00:04:19.910 align:start position:0% can do is that you can use the RSA accumulator<00:04:17.790> they<00:04:18.540> are<00:04:18.660> same<00:04:18.900> letters<00:04:19.470> recent 00:04:19.910 --> 00:04:19.920 align:start position:0% accumulator they are same letters recent 00:04:19.920 --> 00:04:21.800 align:start position:0% accumulator they are same letters recent construction<00:04:20.459> which<00:04:20.670> you<00:04:20.820> like<00:04:21.150> assign<00:04:21.780> a 00:04:21.800 --> 00:04:21.810 align:start position:0% construction which you like assign a 00:04:21.810 --> 00:04:24.290 align:start position:0% construction which you like assign a unique<00:04:22.260> prime<00:04:22.560> number<00:04:22.830> to<00:04:22.979> each<00:04:23.040> leaf<00:04:23.490> and<00:04:23.700> you 00:04:24.290 --> 00:04:24.300 align:start position:0% unique prime number to each leaf and you 00:04:24.300 --> 00:04:26.200 align:start position:0% unique prime number to each leaf and you make<00:04:24.780> some<00:04:24.990> black<00:04:25.169> magic<00:04:25.320> on<00:04:25.680> it 00:04:26.200 --> 00:04:26.210 align:start position:0% make some black magic on it 00:04:26.210 --> 00:04:28.450 align:start position:0% make some black magic on it you<00:04:26.360> can<00:04:26.479> somehow<00:04:26.690> prove<00:04:27.110> compactly<00:04:27.919> there 00:04:28.450 --> 00:04:28.460 align:start position:0% you can somehow prove compactly there 00:04:28.460 --> 00:04:30.460 align:start position:0% you can somehow prove compactly there that<00:04:29.180> the<00:04:29.270> consistory<00:04:29.750> is<00:04:29.870> valid<00:04:30.199> and<00:04:30.410> the 00:04:30.460 --> 00:04:30.470 align:start position:0% that the consistory is valid and the 00:04:30.470 --> 00:04:33.040 align:start position:0% that the consistory is valid and the final<00:04:31.250> the<00:04:31.280> very<00:04:31.400> sexy<00:04:32.030> alternative<00:04:32.509> is<00:04:32.930> that 00:04:33.040 --> 00:04:33.050 align:start position:0% final the very sexy alternative is that 00:04:33.050 --> 00:04:35.200 align:start position:0% final the very sexy alternative is that you<00:04:33.139> can<00:04:33.259> just<00:04:33.470> take<00:04:34.160> the<00:04:34.310> whole<00:04:34.340> history<00:04:34.759> you 00:04:35.200 --> 00:04:35.210 align:start position:0% you can just take the whole history you 00:04:35.210 --> 00:04:36.580 align:start position:0% you can just take the whole history you make<00:04:35.389> a<00:04:35.419> stark<00:04:35.720> proof<00:04:35.930> you<00:04:36.080> put<00:04:36.259> it<00:04:36.349> on<00:04:36.500> the 00:04:36.580 --> 00:04:36.590 align:start position:0% make a stark proof you put it on the 00:04:36.590 --> 00:04:38.140 align:start position:0% make a stark proof you put it on the back<00:04:36.740> on<00:04:36.919> the<00:04:37.009> black<00:04:37.160> box<00:04:37.400> without<00:04:37.970> any 00:04:38.140 --> 00:04:38.150 align:start position:0% back on the black box without any 00:04:38.150 --> 00:04:40.360 align:start position:0% back on the black box without any trusted<00:04:38.840> setup<00:04:39.110> or<00:04:39.259> anything<00:04:39.830> that<00:04:39.979> you<00:04:40.250> don't 00:04:40.360 --> 00:04:40.370 align:start position:0% trusted setup or anything that you don't 00:04:40.370 --> 00:04:42.309 align:start position:0% trusted setup or anything that you don't like<00:04:40.490> you<00:04:41.120> just<00:04:41.419> have<00:04:41.539> a<00:04:41.569> combat<00:04:41.930> proof<00:04:42.169> that 00:04:42.309 --> 00:04:42.319 align:start position:0% like you just have a combat proof that 00:04:42.319 --> 00:04:44.469 align:start position:0% like you just have a combat proof that can<00:04:42.500> be<00:04:42.620> x<00:04:42.979> power<00:04:43.190> that<00:04:43.490> can<00:04:43.669> be<00:04:43.699> transmitted 00:04:44.469 --> 00:04:44.479 align:start position:0% can be x power that can be transmitted 00:04:44.479 --> 00:04:46.900 align:start position:0% can be x power that can be transmitted to<00:04:44.660> your<00:04:45.050> receiver<00:04:45.500> and<00:04:45.860> actually<00:04:46.729> in<00:04:46.819> these 00:04:46.900 --> 00:04:46.910 align:start position:0% to your receiver and actually in these 00:04:46.910 --> 00:04:48.249 align:start position:0% to your receiver and actually in these cases<00:04:47.180> we<00:04:47.419> never<00:04:47.599> need<00:04:47.780> an<00:04:47.930> unchanged 00:04:48.249 --> 00:04:48.259 align:start position:0% cases we never need an unchanged 00:04:48.259 --> 00:04:50.860 align:start position:0% cases we never need an unchanged verifier<00:04:48.650> to<00:04:49.220> do<00:04:49.340> that<00:04:49.490> because<00:04:49.699> I'm<00:04:50.389> just<00:04:50.660> I 00:04:50.860 --> 00:04:50.870 align:start position:0% verifier to do that because I'm just I 00:04:50.870 --> 00:04:52.360 align:start position:0% verifier to do that because I'm just I want<00:04:51.080> to<00:04:51.169> prove<00:04:51.319> like<00:04:51.560> let's<00:04:51.860> say<00:04:51.949> the<00:04:52.069> Jeff<00:04:52.250> I 00:04:52.360 --> 00:04:52.370 align:start position:0% want to prove like let's say the Jeff I 00:04:52.370 --> 00:04:53.680 align:start position:0% want to prove like let's say the Jeff I just<00:04:52.400> want<00:04:52.759> to<00:04:52.819> tell<00:04:52.970> him<00:04:53.120> that<00:04:53.270> you<00:04:53.539> know<00:04:53.660> I 00:04:53.680 --> 00:04:53.690 align:start position:0% just want to tell him that you know I 00:04:53.690 --> 00:04:55.659 align:start position:0% just want to tell him that you know I have<00:04:53.900> this<00:04:54.020> going<00:04:54.199> take<00:04:54.560> it<00:04:54.740> and<00:04:55.099> he<00:04:55.340> proves<00:04:55.610> it 00:04:55.659 --> 00:04:55.669 align:start position:0% have this going take it and he proves it 00:04:55.669 --> 00:04:57.249 align:start position:0% have this going take it and he proves it on<00:04:55.789> his<00:04:55.970> own<00:04:56.120> and<00:04:56.419> the<00:04:56.660> verification<00:04:56.930> is 00:04:57.249 --> 00:04:57.259 align:start position:0% on his own and the verification is 00:04:57.259 --> 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get<00:05:03.169> us 00:05:04.110 --> 00:05:04.120 align:start position:0% they're coming to get us 00:05:04.120 --> 00:05:11.860 align:start position:0% they're coming to get us where's<00:05:05.120> my<00:05:05.240> slides<00:05:07.960> more<00:05:08.960> ya<00:05:09.710> Q&A<00:05:10.870> please 00:05:11.860 --> 00:05:11.870 align:start position:0% where's my slides more ya Q&A please 00:05:11.870 --> 00:05:14.589 align:start position:0% where's my slides more ya Q&A please actually<00:05:12.440> yeah<00:05:12.889> I'm<00:05:13.039> I'm<00:05:13.699> pretty<00:05:14.180> sure<00:05:14.389> I<00:05:14.419> can 00:05:14.589 --> 00:05:14.599 align:start position:0% actually yeah I'm I'm pretty sure I can 00:05:14.599 --> 00:05:17.260 align:start position:0% actually yeah I'm I'm pretty sure I can answer<00:05:14.720> like<00:05:15.110> any<00:05:15.710> technical<00:05:16.400> questions<00:05:17.060> so 00:05:17.260 --> 00:05:17.270 align:start position:0% answer like any technical questions so 00:05:17.270 --> 00:05:19.510 align:start position:0% answer like any technical questions so hit<00:05:17.599> me<00:05:17.750> with<00:05:18.080> your<00:05:18.110> best<00:05:18.259> shot<00:05:18.440> and<00:05:18.740> if<00:05:19.400> I 00:05:19.510 --> 00:05:19.520 align:start position:0% hit me with your best shot and if I 00:05:19.520 --> 00:05:23.110 align:start position:0% hit me with your best shot and if I don't<00:05:19.729> answer<00:05:19.880> here<00:05:21.759> why<00:05:22.759> do<00:05:22.820> we<00:05:22.909> need<00:05:23.000> to 00:05:23.110 --> 00:05:23.120 align:start position:0% don't answer here why do we need to 00:05:23.120 --> 00:05:25.360 align:start position:0% don't answer here why do we need to worry<00:05:23.270> about<00:05:23.440> quantum<00:05:24.440> resistance<00:05:24.949> if<00:05:25.190> we're 00:05:25.360 --> 00:05:25.370 align:start position:0% worry about quantum resistance if we're 00:05:25.370 --> 00:05:26.800 align:start position:0% worry about quantum resistance if we're not<00:05:25.460> even<00:05:25.699> sure<00:05:25.909> if<00:05:26.000> the<00:05:26.090> system's<00:05:26.419> work<00:05:26.599> it 00:05:26.800 --> 00:05:26.810 align:start position:0% not even sure if the system's work it 00:05:26.810 --> 00:05:29.170 align:start position:0% not even sure if the system's work it like<00:05:27.020> we're<00:05:27.259> gonna<00:05:27.349> we're<00:05:27.800> gonna<00:05:28.180> multiple 00:05:29.170 --> 00:05:29.180 align:start position:0% like we're gonna we're gonna multiple 00:05:29.180 --> 00:05:29.589 align:start position:0% like we're gonna we're gonna multiple times 00:05:29.589 --> 00:05:29.599 align:start position:0% times 00:05:29.599 --> 00:05:31.600 align:start position:0% times well<00:05:30.139> my<00:05:30.259> gosh<00:05:30.409> is<00:05:30.560> it<00:05:30.800> is<00:05:31.009> it<00:05:31.159> because<00:05:31.430> that's 00:05:31.600 --> 00:05:31.610 align:start position:0% well my gosh is it is it because that's 00:05:31.610 --> 00:05:33.760 align:start position:0% well my gosh is it is it because that's it's<00:05:32.180> gonna<00:05:32.240> exist<00:05:32.630> in<00:05:32.960> perpetuity<00:05:33.199> for<00:05:33.740> a 00:05:33.760 --> 00:05:33.770 align:start position:0% it's gonna exist in perpetuity for a 00:05:33.770 --> 00:05:37.060 align:start position:0% it's gonna exist in perpetuity for a long<00:05:33.889> period<00:05:34.099> of<00:05:34.130> time<00:05:34.220> and<00:05:34.580> then<00:05:35.860> we<00:05:36.860> need<00:05:36.979> to 00:05:37.060 --> 00:05:37.070 align:start position:0% long period of time and then we need to 00:05:37.070 --> 00:05:40.540 align:start position:0% long period of time and then we need to be<00:05:37.159> like<00:05:37.310> looking<00:05:37.669> ahead<00:05:38.740> like<00:05:39.740> protecting 00:05:40.540 --> 00:05:40.550 align:start position:0% be like looking ahead like protecting 00:05:40.550 --> 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better than investing six<00:05:47.630> six<00:05:48.259> months<00:05:48.560> in<00:05:49.039> an<00:05:49.190> on<00:05:49.310> quantum<00:05:49.669> system 00:05:50.020 --> 00:05:50.030 align:start position:0% six six months in an on quantum system 00:05:50.030 --> 00:05:52.270 align:start position:0% six six months in an on quantum system scheme<00:05:50.240> so<00:05:50.570> I'll<00:05:50.719> just<00:05:50.900> time<00:05:51.560> in<00:05:51.710> for<00:05:51.919> a<00:05:51.949> second 00:05:52.270 --> 00:05:52.280 align:start position:0% scheme so I'll just time in for a second 00:05:52.280 --> 00:05:54.070 align:start position:0% scheme so I'll just time in for a second so<00:05:52.610> I<00:05:52.639> think<00:05:52.729> the<00:05:52.969> danger<00:05:53.300> is<00:05:53.539> is<00:05:53.810> that<00:05:53.930> we 00:05:54.070 --> 00:05:54.080 align:start position:0% so I think the danger is is that we 00:05:54.080 --> 00:05:55.839 align:start position:0% so I think the danger is is that we encrypt<00:05:54.440> all<00:05:54.650> this<00:05:54.800> data<00:05:55.039> and<00:05:55.310> we<00:05:55.400> have<00:05:55.430> like 00:05:55.839 --> 00:05:55.849 align:start position:0% encrypt all this data and we have like 00:05:55.849 --> 00:05:58.060 align:start position:0% encrypt all this data and we have like arc<00:05:56.120> browser<00:05:56.419> history<00:05:56.930> encrypted<00:05:57.440> and<00:05:57.680> then 00:05:58.060 --> 00:05:58.070 align:start position:0% arc browser history encrypted and then 00:05:58.070 --> 00:05:59.709 align:start position:0% arc browser history encrypted and then somebody<00:05:58.400> gets<00:05:58.550> a<00:05:58.699> quantum<00:05:59.090> computer<00:05:59.120> we're 00:05:59.709 --> 00:05:59.719 align:start position:0% somebody gets a quantum computer we're 00:05:59.719 --> 00:06:03.459 align:start position:0% somebody gets a quantum computer we're all<00:05:59.840> screwed<00:06:00.169> right<00:06:01.599> okay<00:06:02.599> so<00:06:02.659> how<00:06:03.139> do<00:06:03.199> you<00:06:03.349> get 00:06:03.459 --> 00:06:03.469 align:start position:0% all screwed right okay so how do you get 00:06:03.469 --> 00:06:05.980 align:start position:0% all screwed right okay so how do you get started<00:06:03.710> firstly<00:06:04.610> Kelvin<00:06:05.270> and<00:06:05.419> friends<00:06:05.780> have 00:06:05.980 --> 00:06:05.990 align:start position:0% started firstly Kelvin and friends have 00:06:05.990 --> 00:06:07.510 align:start position:0% started firstly Kelvin and friends have done<00:06:06.110> like<00:06:06.380> a<00:06:06.409> great<00:06:06.740> great<00:06:07.039> amazing 00:06:07.510 --> 00:06:07.520 align:start position:0% done like a great great amazing 00:06:07.520 --> 00:06:09.219 align:start position:0% done like a great great amazing educational<00:06:08.210> effort<00:06:08.539> with<00:06:08.719> the<00:06:08.750> site<00:06:09.020> called 00:06:09.219 --> 00:06:09.229 align:start position:0% educational effort with the site called 00:06:09.229 --> 00:06:10.930 align:start position:0% educational effort with the site called little<00:06:09.500> plasma<00:06:09.680> dot<00:06:10.099> org<00:06:10.370> if<00:06:10.699> I'm<00:06:10.849> not 00:06:10.930 --> 00:06:10.940 align:start position:0% little plasma dot org if I'm not 00:06:10.940 --> 00:06:16.240 align:start position:0% little plasma dot org if I'm not mistaken<00:06:12.940> but<00:06:13.940> I<00:06:14.150> am<00:06:14.270> of<00:06:14.419> the<00:06:14.539> opinion<00:06:14.570> that<00:06:15.250> is 00:06:16.240 --> 00:06:16.250 align:start position:0% mistaken but I am of the opinion that is 00:06:16.250 --> 00:06:17.320 align:start position:0% mistaken but I am of the opinion that is the<00:06:16.340> time<00:06:16.520> we're<00:06:16.639> going<00:06:16.789> if<00:06:16.969> I<00:06:17.060> don't<00:06:17.210> have 00:06:17.320 --> 00:06:17.330 align:start position:0% the time we're going if I don't have 00:06:17.330 --> 00:06:22.270 align:start position:0% the time we're going if I don't have slides<00:06:20.050> but<00:06:21.050> I<00:06:21.080> am<00:06:21.229> the<00:06:21.469> opinion<00:06:21.770> that<00:06:21.919> I 00:06:22.270 --> 00:06:22.280 align:start position:0% slides but I am the opinion that I 00:06:22.280 --> 00:06:23.980 align:start position:0% slides but I am the opinion that I literally<00:06:22.849> cannot<00:06:23.150> show<00:06:23.360> you<00:06:23.419> how<00:06:23.630> one<00:06:23.810> thing 00:06:23.980 --> 00:06:23.990 align:start position:0% literally cannot show you how one thing 00:06:23.990 --> 00:06:26.020 align:start position:0% literally cannot show you how one thing works<00:06:24.199> if<00:06:24.409> I<00:06:24.500> lit<00:06:24.770> upon<00:06:24.830> you<00:06:25.130> like<00:06:25.280> to<00:06:25.400> if<00:06:25.849> I 00:06:26.020 --> 00:06:26.030 align:start position:0% works if I lit upon you like to if I 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align:start position:0% read in maybe two hours and you can like understand<00:06:39.320> everything 00:06:39.760 --> 00:06:39.770 align:start position:0% understand everything 00:06:39.770 --> 00:06:42.100 align:start position:0% understand everything plasma<00:06:40.160> this<00:06:40.340> vine<00:06:40.580> that<00:06:40.819> I'm<00:06:40.940> working<00:06:41.090> on<00:06:41.300> so 00:06:42.100 --> 00:06:42.110 align:start position:0% plasma this vine that I'm working on so 00:06:42.110 --> 00:06:44.050 align:start position:0% plasma this vine that I'm working on so you<00:06:42.169> read<00:06:42.620> it<00:06:42.740> and<00:06:42.919> basically<00:06:43.099> you<00:06:43.669> should<00:06:43.699> be 00:06:44.050 --> 00:06:44.060 align:start position:0% you read it and basically you should be 00:06:44.060 --> 00:06:45.550 align:start position:0% you read it and basically you should be having<00:06:44.360> like<00:06:44.539> a<00:06:44.569> pretty<00:06:44.810> good<00:06:44.990> idea<00:06:45.139> of<00:06:45.319> what's 00:06:45.550 --> 00:06:45.560 align:start position:0% having like a pretty good idea of what's 00:06:45.560 --> 00:06:47.589 align:start position:0% having like a pretty good idea of what's going<00:06:45.740> on<00:06:45.889> and<00:06:46.210> implementing<00:06:47.210> a<00:06:47.270> plasma 00:06:47.589 --> 00:06:47.599 align:start position:0% going on and implementing a plasma 00:06:47.599 --> 00:06:49.180 align:start position:0% going on and implementing a plasma contract<00:06:47.990> isn't<00:06:48.229> actually<00:06:48.740> the<00:06:48.860> hard<00:06:49.039> thing 00:06:49.180 --> 00:06:49.190 align:start position:0% contract isn't actually the hard thing 00:06:49.190 --> 00:06:50.740 align:start position:0% contract isn't actually the hard thing let<00:06:49.699> me<00:06:49.729> near<00:06:49.879> the<00:06:49.940> client<00:06:50.300> software<00:06:50.449> is<00:06:50.690> the 00:06:50.740 --> 00:06:50.750 align:start position:0% let me near the client software is the 00:06:50.750 --> 00:06:52.480 align:start position:0% let me near the client software is the hardest<00:06:51.080> thing<00:06:51.229> because<00:06:51.919> the<00:06:52.129> smart<00:06:52.340> contract 00:06:52.480 --> 00:06:52.490 align:start position:0% hardest thing because the smart contract 00:06:52.490 --> 00:06:53.980 align:start position:0% hardest thing because the smart contract you<00:06:52.789> need<00:06:52.940> like<00:06:53.120> you<00:06:53.330> define<00:06:53.599> it<00:06:53.750> like<00:06:53.780> you 00:06:53.980 --> 00:06:53.990 align:start position:0% you need like you define it like you 00:06:53.990 --> 00:06:55.629 align:start position:0% you need like you define it like you give<00:06:54.169> it<00:06:54.259> like<00:06:54.409> you<00:06:54.500> need<00:06:54.620> to<00:06:54.770> do<00:06:55.069> this<00:06:55.310> for 00:06:55.629 --> 00:06:55.639 align:start position:0% give it like you need to do this for 00:06:55.639 --> 00:06:57.730 align:start position:0% give it like you need to do this for exit<00:06:55.970> this<00:06:56.180> to<00:06:56.389> withdrawal<00:06:56.810> this<00:06:57.080> to<00:06:57.319> deposit 00:06:57.730 --> 00:06:57.740 align:start position:0% exit this to withdrawal this to deposit 00:06:57.740 --> 00:06:59.710 align:start position:0% exit this to withdrawal this to deposit that's<00:06:58.340> all<00:06:58.550> there<00:06:58.699> is<00:06:58.729> to<00:06:59.000> it<00:06:59.090> and<00:06:59.479> you<00:06:59.599> had<00:06:59.690> a 00:06:59.710 --> 00:06:59.720 align:start position:0% that's all there is to it and you had a 00:06:59.720 --> 00:07:01.719 align:start position:0% that's all there is to it and you had a submit<00:07:00.139> block<00:07:00.379> function<00:07:00.830> to<00:07:00.979> commit<00:07:01.520> the 00:07:01.719 --> 00:07:01.729 align:start position:0% submit block function to commit the 00:07:01.729 --> 00:07:04.510 align:start position:0% submit block function to commit the molecular<00:07:02.150> route<00:07:02.270> and<00:07:02.539> that's<00:07:03.020> it<00:07:03.430> but<00:07:04.430> the 00:07:04.510 --> 00:07:04.520 align:start position:0% molecular route and that's it but the 00:07:04.520 --> 00:07:06.100 align:start position:0% molecular route and that's it but the client<00:07:04.819> software<00:07:05.000> it<00:07:05.330> needs<00:07:05.539> to<00:07:05.629> watch<00:07:05.840> it 00:07:06.100 --> 00:07:06.110 align:start position:0% client software it needs to watch it 00:07:06.110 --> 00:07:08.890 align:start position:0% client software it needs to watch it needs<00:07:06.319> to<00:07:06.610> cache<00:07:07.610> state<00:07:08.150> because<00:07:08.479> if<00:07:08.629> you<00:07:08.720> pull 00:07:08.890 --> 00:07:08.900 align:start position:0% needs to cache state because if you pull 00:07:08.900 --> 00:07:10.480 align:start position:0% needs to cache state because if you pull the<00:07:09.080> medical<00:07:09.379> proof<00:07:09.560> you<00:07:09.860> need<00:07:10.009> to<00:07:10.129> save<00:07:10.340> it 00:07:10.480 --> 00:07:10.490 align:start position:0% the medical proof you need to save it 00:07:10.490 --> 00:07:12.580 align:start position:0% the medical proof you need to save it because<00:07:11.150> if<00:07:11.330> you<00:07:11.419> don't<00:07:11.629> like<00:07:12.139> and<00:07:12.380> you 00:07:12.580 --> 00:07:12.590 align:start position:0% because if you don't like and you 00:07:12.590 --> 00:07:13.870 align:start position:0% because if you don't like and you restart<00:07:12.949> your<00:07:13.069> client<00:07:13.340> you<00:07:13.460> don't<00:07:13.669> have<00:07:13.789> the 00:07:13.870 --> 00:07:13.880 align:start position:0% restart your client you don't have the 00:07:13.880 --> 00:07:15.790 align:start position:0% restart your client you don't have the proofs<00:07:14.120> you<00:07:14.599> assume<00:07:14.870> that<00:07:15.020> the<00:07:15.169> whatever 00:07:15.790 --> 00:07:15.800 align:start position:0% proofs you assume that the whatever 00:07:15.800 --> 00:07:17.439 align:start position:0% proofs you assume that the whatever entity<00:07:16.190> is<00:07:16.370> providing<00:07:16.789> you<00:07:16.909> the<00:07:17.000> day<00:07:17.120> that<00:07:17.150> way 00:07:17.439 --> 00:07:17.449 align:start position:0% entity is providing you the day that way 00:07:17.449 --> 00:07:19.689 align:start position:0% entity is providing you the day that way will<00:07:17.690> provide<00:07:18.020> you<00:07:18.169> the<00:07:18.289> data<00:07:18.440> and<00:07:18.800> if<00:07:19.460> you<00:07:19.580> do 00:07:19.689 --> 00:07:19.699 align:start position:0% will provide you the data and if you do 00:07:19.699 --> 00:07:22.089 align:start position:0% will provide you the data and if you do that<00:07:19.819> why<00:07:20.419> even<00:07:20.630> bother<00:07:20.750> with<00:07:20.900> plasma<00:07:21.229> which 00:07:22.089 --> 00:07:22.099 align:start position:0% that why even bother with plasma which 00:07:22.099 --> 00:07:24.100 align:start position:0% that why even bother with plasma which is<00:07:22.130> I'm<00:07:22.550> pretty<00:07:23.240> sure<00:07:23.389> there<00:07:23.599> is<00:07:23.720> some<00:07:23.900> like 00:07:24.100 --> 00:07:24.110 align:start position:0% is I'm pretty sure there is some like 00:07:24.110 --> 00:07:26.379 align:start position:0% is I'm pretty sure there is some like plasma<00:07:24.409> variants<00:07:25.039> that<00:07:25.400> assume<00:07:25.819> some<00:07:26.120> sort<00:07:26.150> of 00:07:26.379 --> 00:07:26.389 align:start position:0% plasma variants that assume some sort of 00:07:26.389 --> 00:07:28.029 align:start position:0% plasma variants that assume some sort of data<00:07:26.599> availability<00:07:26.990> and<00:07:27.530> you<00:07:27.650> shoulda<00:07:27.860> never 00:07:28.029 --> 00:07:28.039 align:start position:0% data availability and you shoulda never 00:07:28.039 --> 00:07:30.700 align:start position:0% data availability and you shoulda never assume<00:07:28.460> any<00:07:28.699> any<00:07:29.060> kind<00:07:29.270> of<00:07:29.389> it<00:07:29.539> so<00:07:30.289> yeah<00:07:30.409> just 00:07:30.700 --> 00:07:30.710 align:start position:0% assume any any kind of it so yeah just 00:07:30.710 --> 00:07:33.219 align:start position:0% assume any any kind of it so yeah just read<00:07:31.219> learn<00:07:31.460> plasma<00:07:31.940> like<00:07:32.150> I'll<00:07:32.719> give<00:07:32.990> a<00:07:33.020> link 00:07:33.219 --> 00:07:33.229 align:start position:0% read learn plasma like I'll give a link 00:07:33.229 --> 00:07:40.689 align:start position:0% read learn plasma like I'll give a link to<00:07:33.319> the<00:07:33.409> paper<00:07:33.590> at<00:07:33.770> the<00:07:33.860> end<00:07:33.889> yeah<00:07:39.699> anything 00:07:40.689 --> 00:07:40.699 align:start position:0% to the paper at the end yeah anything 00:07:40.699 --> 00:07:49.689 align:start position:0% to the paper at the end yeah anything anything<00:07:40.990> yeah 00:07:49.689 --> 00:07:49.699 align:start position:0% 00:07:49.699 --> 00:07:53.379 align:start position:0% but<00:07:50.419> again<00:07:51.110> my<00:07:51.289> opinion<00:07:51.650> I<00:07:51.800> don't<00:07:52.310> think<00:07:52.610> light 00:07:53.379 --> 00:07:53.389 align:start position:0% but again my opinion I don't think light 00:07:53.389 --> 00:07:56.649 align:start position:0% but again my opinion I don't think light client<00:07:53.750> verification<00:07:54.319> works<00:07:54.650> on<00:07:54.800> mu<00:07:55.009> P<00:07:55.659> I'll 00:07:56.649 --> 00:07:56.659 align:start position:0% client verification works on mu P I'll 00:07:56.659 --> 00:07:58.510 align:start position:0% client verification works on mu P I'll put<00:07:56.900> very<00:07:57.080> contrary<00:07:57.440> opinions<00:07:57.919> of<00:07:58.099> always 00:07:58.510 --> 00:07:58.520 align:start position:0% put very contrary opinions of always 00:07:58.520 --> 00:07:59.379 align:start position:0% put very contrary opinions of always with<00:07:58.729> a<00:07:58.759> grain<00:07:58.940> of<00:07:58.969> salt 00:07:59.379 --> 00:07:59.389 align:start position:0% with a grain of salt 00:07:59.389 --> 00:08:03.670 align:start position:0% with a grain of salt so<00:07:59.810> I<00:08:00.580> MVP<00:08:01.580> it<00:08:02.419> requires<00:08:02.810> you<00:08:02.930> to<00:08:02.960> validate<00:08:03.440> the 00:08:03.670 --> 00:08:03.680 align:start position:0% so I MVP it requires you to validate the 00:08:03.680 --> 00:08:05.830 align:start position:0% so I MVP it requires you to validate the side<00:08:03.889> gene<00:08:04.069> state<00:08:04.310> which<00:08:04.969> by<00:08:05.120> definition<00:08:05.419> it 00:08:05.830 --> 00:08:05.840 align:start position:0% side gene state which by definition it 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clients you can never run like a<00:08:11.599> secure<00:08:12.259> plasma<00:08:12.650> gene<00:08:12.800> on<00:08:13.009> your<00:08:13.219> phone<00:08:13.550> you 00:08:14.290 --> 00:08:14.300 align:start position:0% a secure plasma gene on your phone you 00:08:14.300 --> 00:08:15.459 align:start position:0% a secure plasma gene on your phone you can<00:08:14.330> never<00:08:14.569> like<00:08:14.750> validate<00:08:15.139> the<00:08:15.259> secure 00:08:15.459 --> 00:08:15.469 align:start position:0% can never like validate the secure 00:08:15.469 --> 00:08:17.379 align:start position:0% can never like validate the secure plasma<00:08:15.740> chain<00:08:15.889> on<00:08:16.039> your<00:08:16.069> phone<00:08:16.310> and<00:08:16.909> you<00:08:17.029> do 00:08:17.379 --> 00:08:17.389 align:start position:0% plasma chain on your phone and you do 00:08:17.389 --> 00:08:18.640 align:start position:0% plasma chain on your phone and you do that<00:08:17.539> because<00:08:17.659> otherwise<00:08:17.900> you<00:08:18.289> cannot<00:08:18.469> be 00:08:18.640 --> 00:08:18.650 align:start position:0% that because otherwise you cannot be 00:08:18.650 --> 00:08:19.899 align:start position:0% that because otherwise you cannot be sure<00:08:18.770> that<00:08:19.009> the<00:08:19.099> plasma<00:08:19.279> change<00:08:19.580> is<00:08:19.669> not<00:08:19.819> a 00:08:19.899 --> 00:08:19.909 align:start position:0% sure that the plasma change is not a 00:08:19.909 --> 00:08:22.269 align:start position:0% sure that the plasma change is not a fractional<00:08:20.360> reserve<00:08:20.750> like<00:08:21.440> if<00:08:21.620> there<00:08:21.800> is<00:08:21.830> a 00:08:22.269 --> 00:08:22.279 align:start position:0% fractional reserve like if there is a 00:08:22.279 --> 00:08:25.269 align:start position:0% fractional reserve like if there is a also<00:08:22.789> from<00:08:23.060> it<00:08:23.330> and<00:08:23.569> you<00:08:23.779> didn't<00:08:24.199> take<00:08:24.349> note<00:08:24.590> so 00:08:25.269 --> 00:08:25.279 align:start position:0% also from it and you didn't take note so 00:08:25.279 --> 00:08:27.339 align:start position:0% also from it and you didn't take note so yeah<00:08:25.430> that's<00:08:25.880> why<00:08:26.060> like<00:08:26.240> I'm<00:08:26.389> a<00:08:26.509> very<00:08:27.050> bullish 00:08:27.339 --> 00:08:27.349 align:start position:0% yeah that's why like I'm a very bullish 00:08:27.349 --> 00:08:30.070 align:start position:0% yeah that's why like I'm a very bullish on<00:08:27.469> the<00:08:27.979> plasma<00:08:28.490> cash<00:08:28.789> because<00:08:29.360> everything 00:08:30.070 --> 00:08:30.080 align:start position:0% on the plasma cash because everything 00:08:30.080 --> 00:08:32.230 align:start position:0% on the plasma cash because everything that<00:08:30.110> happens<00:08:30.229> on<00:08:30.560> chain<00:08:30.800> you<00:08:31.759> know<00:08:31.880> at<00:08:32.029> that 00:08:32.230 --> 00:08:32.240 align:start position:0% that happens on chain you know at that 00:08:32.240 --> 00:08:36.219 align:start position:0% that happens on chain you know at that moment<00:08:32.390> so<00:08:33.260> ok<00:08:34.070> plasma<00:08:34.459> okay<00:08:35.419> so<00:08:35.839> why<00:08:36.200> is 00:08:36.219 --> 00:08:36.229 align:start position:0% moment so ok plasma okay so why is 00:08:36.229 --> 00:08:37.480 align:start position:0% moment so ok plasma okay so why is plasma<00:08:36.560> you<00:08:36.800> have<00:08:36.919> the<00:08:37.039> maintain<00:08:37.370> the 00:08:37.480 --> 00:08:37.490 align:start position:0% plasma you have the maintain the 00:08:37.490 --> 00:08:38.980 align:start position:0% plasma you have the maintain the sidechain<00:08:37.729> like<00:08:38.149> you<00:08:38.240> deposit<00:08:38.630> some<00:08:38.750> funds 00:08:38.980 --> 00:08:38.990 align:start position:0% sidechain like you deposit some funds 00:08:38.990 --> 00:08:40.240 align:start position:0% sidechain like you deposit some funds you<00:08:39.169> do<00:08:39.289> the<00:08:39.440> fund<00:08:39.620> whatever<00:08:39.770> you<00:08:39.979> like<00:08:40.099> we 00:08:40.240 --> 00:08:40.250 align:start position:0% you do the fund whatever you like we 00:08:40.250 --> 00:08:41.740 align:start position:0% you do the fund whatever you like we talked<00:08:40.430> about<00:08:40.550> this<00:08:40.789> already<00:08:41.029> so<00:08:41.270> I<00:08:41.329> will<00:08:41.510> skip 00:08:41.740 --> 00:08:41.750 align:start position:0% talked about this already so I will skip 00:08:41.750 --> 00:08:44.019 align:start position:0% talked about this already so I will skip this<00:08:41.839> through<00:08:42.130> the<00:08:43.130> big<00:08:43.250> detail<00:08:43.579> that<00:08:43.760> we<00:08:43.880> need 00:08:44.019 --> 00:08:44.029 align:start position:0% this through the big detail that we need 00:08:44.029 --> 00:08:46.329 align:start position:0% this through the big detail that we need to<00:08:44.180> like<00:08:44.450> insist<00:08:45.260> on<00:08:45.440> is<00:08:45.620> that<00:08:45.829> each<00:08:46.010> block 00:08:46.329 --> 00:08:46.339 align:start position:0% to like insist on is that each block 00:08:46.339 --> 00:08:48.069 align:start position:0% to like insist on is that each block must<00:08:46.610> be<00:08:46.820> submitted<00:08:47.120> and<00:08:47.420> the<00:08:47.510> gas<00:08:47.660> cause<00:08:47.899> for 00:08:48.069 --> 00:08:48.079 align:start position:0% must be submitted and the gas cause for 00:08:48.079 --> 00:08:49.870 align:start position:0% must be submitted and the gas cause for this<00:08:48.230> they<00:08:48.380> kind<00:08:48.770> of<00:08:48.890> stack<00:08:49.130> up<00:08:49.279> I<00:08:49.520> actually 00:08:49.870 --> 00:08:49.880 align:start position:0% this they kind of stack up I actually 00:08:49.880 --> 00:08:51.430 align:start position:0% this they kind of stack up I actually really<00:08:50.300> like<00:08:50.420> this<00:08:50.540> purple<00:08:50.750> color<00:08:50.870> it's<00:08:51.260> very 00:08:51.430 --> 00:08:51.440 align:start position:0% really like this purple color it's very 00:08:51.440 --> 00:08:53.470 align:start position:0% really like this purple color it's very satisfying<00:08:51.589> so 00:08:53.470 --> 00:08:53.480 align:start position:0% satisfying so 00:08:53.480 --> 00:08:55.120 align:start position:0% satisfying so you<00:08:53.600> checkpoint<00:08:53.990> each<00:08:54.170> block<00:08:54.440> and<00:08:54.620> the<00:08:54.740> moment 00:08:55.120 --> 00:08:55.130 align:start position:0% you checkpoint each block and the moment 00:08:55.130 --> 00:08:57.400 align:start position:0% you checkpoint each block and the moment you<00:08:55.519> consider<00:08:55.820> transaction<00:08:56.389> finalized<00:08:56.899> this 00:08:57.400 --> 00:08:57.410 align:start position:0% you consider transaction finalized this 00:08:57.410 --> 00:08:59.439 align:start position:0% you consider transaction finalized this is<00:08:57.529> like<00:08:57.709> security<00:08:58.459> property<00:08:58.880> that<00:08:59.060> you 00:08:59.439 --> 00:08:59.449 align:start position:0% is like security property that you 00:08:59.449 --> 00:09:01.569 align:start position:0% is like security property that you consider<00:08:59.870> transaction<00:09:00.410> finalized<00:09:00.920> once<00:09:01.430> the 00:09:01.569 --> 00:09:01.579 align:start position:0% consider transaction finalized once the 00:09:01.579 --> 00:09:03.819 align:start position:0% consider transaction finalized once the block<00:09:01.790> route<00:09:01.970> has<00:09:02.149> been<00:09:02.300> committed<00:09:02.720> and<00:09:02.899> the 00:09:03.819 --> 00:09:03.829 align:start position:0% block route has been committed and the 00:09:03.829 --> 00:09:06.280 align:start position:0% block route has been committed and the witness<00:09:04.160> data<00:09:04.370> the<00:09:04.610> Medical<00:09:04.970> Branch<00:09:05.449> for<00:09:06.079> that 00:09:06.280 --> 00:09:06.290 align:start position:0% witness data the Medical Branch for that 00:09:06.290 --> 00:09:07.600 align:start position:0% witness data the Medical Branch for that transaction<00:09:06.620> that<00:09:06.889> you're<00:09:07.040> looking<00:09:07.310> for<00:09:07.490> is 00:09:07.600 --> 00:09:07.610 align:start position:0% transaction that you're looking for is 00:09:07.610 --> 00:09:09.490 align:start position:0% transaction that you're looking for is made<00:09:07.760> available<00:09:07.910> to<00:09:08.360> you<00:09:08.480> because<00:09:09.139> if<00:09:09.320> that 00:09:09.490 --> 00:09:09.500 align:start position:0% made available to you because if that 00:09:09.500 --> 00:09:10.960 align:start position:0% made available to you because if that data<00:09:09.680> is<00:09:09.800> not<00:09:09.980> made<00:09:10.190> available<00:09:10.310> to<00:09:10.730> you<00:09:10.820> you 00:09:10.960 --> 00:09:10.970 align:start position:0% data is not made available to you you 00:09:10.970 --> 00:09:12.670 align:start position:0% data is not made available to you you literally<00:09:11.389> cannot<00:09:11.690> know<00:09:11.959> if<00:09:12.170> the<00:09:12.380> transaction 00:09:12.670 --> 00:09:12.680 align:start position:0% literally cannot know if the transaction 00:09:12.680 --> 00:09:16.449 align:start position:0% literally cannot know if the transaction was<00:09:13.010> included<00:09:13.399> or<00:09:13.519> it<00:09:13.639> was<00:09:13.790> censored<00:09:14.170> so<00:09:15.459> just 00:09:16.449 --> 00:09:16.459 align:start position:0% was included or it was censored so just 00:09:16.459 --> 00:09:19.210 align:start position:0% was included or it was censored so just a<00:09:16.730> moment<00:09:17.300> to<00:09:17.449> just<00:09:17.480> say<00:09:17.839> that<00:09:18.019> plasma<00:09:18.620> cash<00:09:18.860> is 00:09:19.210 --> 00:09:19.220 align:start position:0% a moment to just say that plasma cash is 00:09:19.220 --> 00:09:21.400 align:start position:0% a moment to just say that plasma cash is real<00:09:19.550> it's<00:09:19.910> working<00:09:20.240> right<00:09:20.480> now<00:09:20.720> it's<00:09:21.050> live 00:09:21.400 --> 00:09:21.410 align:start position:0% real it's working right now it's live 00:09:21.410 --> 00:09:23.500 align:start position:0% real it's working right now it's live right<00:09:21.440> now<00:09:21.800> you<00:09:22.100> can<00:09:22.250> do<00:09:22.399> NPM<00:09:22.940> install<00:09:23.089> like 00:09:23.500 --> 00:09:23.510 align:start position:0% right now you can do NPM install like 00:09:23.510 --> 00:09:25.000 align:start position:0% right now you can do NPM install like this<00:09:23.839> thing<00:09:24.050> you<00:09:24.410> can<00:09:24.529> run<00:09:24.680> this<00:09:24.829> command 00:09:25.000 --> 00:09:25.010 align:start position:0% this thing you can run this command 00:09:25.010 --> 00:09:27.009 align:start position:0% this thing you can run this command these<00:09:25.430> are<00:09:25.579> two<00:09:25.730> real<00:09:26.089> addresses<00:09:26.600> and<00:09:26.810> you<00:09:26.870> can 00:09:27.009 --> 00:09:27.019 align:start position:0% these are two real addresses and you can 00:09:27.019 --> 00:09:30.100 align:start position:0% these are two real addresses and you can get<00:09:27.199> connect<00:09:27.529> to<00:09:27.649> rinkeby<00:09:28.389> via<00:09:29.389> fu<00:09:29.750> or<00:09:29.959> your 00:09:30.100 --> 00:09:30.110 align:start position:0% get connect to rinkeby via fu or your 00:09:30.110 --> 00:09:31.660 align:start position:0% get connect to rinkeby via fu or your own<00:09:30.230> node<00:09:30.440> but<00:09:30.680> nobody<00:09:30.980> runs<00:09:31.190> their<00:09:31.339> own<00:09:31.430> nodes 00:09:31.660 --> 00:09:31.670 align:start position:0% own node but nobody runs their own nodes 00:09:31.670 --> 00:09:37.840 align:start position:0% own node but nobody runs their own nodes unfortunately<00:09:32.329> yeah<00:09:34.149> and<00:09:36.370> this<00:09:37.370> is<00:09:37.430> like<00:09:37.670> how 00:09:37.840 --> 00:09:37.850 align:start position:0% unfortunately yeah and this is like how 00:09:37.850 --> 00:09:39.100 align:start position:0% unfortunately yeah and this is like how the<00:09:37.910> thing<00:09:38.180> like<00:09:38.420> looks<00:09:38.750> from<00:09:38.959> the<00:09:39.079> inside 00:09:39.100 --> 00:09:39.110 align:start position:0% the thing like looks from the inside 00:09:39.110 --> 00:09:40.930 align:start position:0% the thing like looks from the inside that<00:09:39.649> help<00:09:39.949> we<00:09:40.070> have<00:09:40.220> a<00:09:40.279> bunch<00:09:40.519> of<00:09:40.610> commands 00:09:40.930 --> 00:09:40.940 align:start position:0% that help we have a bunch of commands 00:09:40.940 --> 00:09:43.449 align:start position:0% that help we have a bunch of commands the<00:09:41.240> user<00:09:41.449> needs<00:09:42.139> to<00:09:42.260> do<00:09:42.500> the<00:09:42.829> very<00:09:43.190> very 00:09:43.449 --> 00:09:43.459 align:start position:0% the user needs to do the very very 00:09:43.459 --> 00:09:45.220 align:start position:0% the user needs to do the very very minimal<00:09:43.970> amount<00:09:44.089> of<00:09:44.389> things<00:09:44.600> just<00:09:44.839> the 00:09:45.220 --> 00:09:45.230 align:start position:0% minimal amount of things just the 00:09:45.230 --> 00:09:47.889 align:start position:0% minimal amount of things just the deposit<00:09:45.800> transfer<00:09:46.550> exit<00:09:47.120> withdrawal<00:09:47.540> that's 00:09:47.889 --> 00:09:47.899 align:start position:0% deposit transfer exit withdrawal that's 00:09:47.899 --> 00:09:49.960 align:start position:0% deposit transfer exit withdrawal that's all<00:09:48.139> you<00:09:48.260> need<00:09:48.410> to<00:09:48.500> do<00:09:48.620> I'm<00:09:49.430> of<00:09:49.790> the<00:09:49.820> opinion 00:09:49.960 --> 00:09:49.970 align:start position:0% all you need to do I'm of the opinion 00:09:49.970 --> 00:09:51.819 align:start position:0% all you need to do I'm of the opinion that<00:09:50.240> you<00:09:50.810> never<00:09:51.110> should<00:09:51.350> like<00:09:51.500> force<00:09:51.740> the 00:09:51.819 --> 00:09:51.829 align:start position:0% that you never should like force the 00:09:51.829 --> 00:09:53.530 align:start position:0% that you never should like force the user<00:09:51.980> to<00:09:52.070> do<00:09:52.310> anything<00:09:52.579> we<00:09:52.820> are<00:09:52.910> watching<00:09:53.180> it's 00:09:53.530 --> 00:09:53.540 align:start position:0% user to do anything we are watching it's 00:09:53.540 --> 00:09:55.720 align:start position:0% user to do anything we are watching it's all<00:09:53.690> on<00:09:53.810> the<00:09:53.899> client<00:09:54.199> software<00:09:54.320> and<00:09:54.800> yeah 00:09:55.720 --> 00:09:55.730 align:start position:0% all on the client software and yeah 00:09:55.730 --> 00:09:57.160 align:start position:0% all on the client software and yeah whatever<00:09:56.029> like<00:09:56.300> you<00:09:56.449> can<00:09:56.600> demo<00:09:56.870> it<00:09:56.959> if<00:09:57.079> you 00:09:57.160 --> 00:09:57.170 align:start position:0% whatever like you can demo it if you 00:09:57.170 --> 00:09:58.930 align:start position:0% whatever like you can demo it if you want<00:09:57.350> like<00:09:57.560> I<00:09:57.769> won't<00:09:58.040> do<00:09:58.160> a<00:09:58.190> live<00:09:58.399> demo<00:09:58.670> because 00:09:58.930 --> 00:09:58.940 align:start position:0% want like I won't do a live demo because 00:09:58.940 --> 00:10:01.180 align:start position:0% want like I won't do a live demo because it's<00:09:59.120> total<00:09:59.480> like<00:10:00.110> hubris 00:10:01.180 --> 00:10:01.190 align:start position:0% it's total like hubris 00:10:01.190 --> 00:10:04.240 align:start position:0% it's total like hubris it<00:10:02.060> doesn't<00:10:02.360> work<00:10:02.560> so<00:10:03.560> okay<00:10:03.889> I've<00:10:04.100> written 00:10:04.240 --> 00:10:04.250 align:start position:0% it doesn't work so okay I've written 00:10:04.250 --> 00:10:06.040 align:start position:0% it doesn't work so okay I've written this<00:10:04.490> thing<00:10:04.699> like<00:10:04.970> you<00:10:05.209> should<00:10:05.389> try<00:10:05.750> to<00:10:05.810> read 00:10:06.040 --> 00:10:06.050 align:start position:0% this thing like you should try to read 00:10:06.050 --> 00:10:09.519 align:start position:0% this thing like you should try to read it<00:10:06.170> give<00:10:06.380> me<00:10:06.470> feedback<00:10:06.829> and<00:10:07.010> so<00:10:07.610> on<00:10:08.529> I'm 00:10:09.519 --> 00:10:09.529 align:start position:0% it give me feedback and so on I'm 00:10:09.529 --> 00:10:11.350 align:start position:0% it give me feedback and so on I'm basically<00:10:10.220> trying<00:10:10.399> to<00:10:10.579> do<00:10:10.970> what<00:10:11.120> I<00:10:11.149> said 00:10:11.350 --> 00:10:11.360 align:start position:0% basically trying to do what I said 00:10:11.360 --> 00:10:12.819 align:start position:0% basically trying to do what I said before<00:10:11.449> I'm<00:10:11.690> trying<00:10:11.899> to<00:10:11.959> do<00:10:12.019> a<00:10:12.079> very<00:10:12.470> like 00:10:12.819 --> 00:10:12.829 align:start position:0% before I'm trying to do a very like 00:10:12.829 --> 00:10:15.340 align:start position:0% before I'm trying to do a very like concise<00:10:13.819> overview<00:10:14.089> of<00:10:14.449> a<00:10:14.600> plasma<00:10:14.839> cash<00:10:15.110> works 00:10:15.340 --> 00:10:15.350 align:start position:0% concise overview of a plasma cash works 00:10:15.350 --> 00:10:16.689 align:start position:0% concise overview of a plasma cash works and<00:10:15.560> what's<00:10:15.980> it<00:10:16.250> about 00:10:16.689 --> 00:10:16.699 align:start position:0% and what's it about 00:10:16.699 --> 00:10:19.480 align:start position:0% and what's it about and<00:10:17.139> soon<00:10:18.139> I<00:10:18.260> will<00:10:18.380> have<00:10:18.620> like<00:10:18.829> some<00:10:19.040> more<00:10:19.279> like 00:10:19.480 --> 00:10:19.490 align:start position:0% and soon I will have like some more like 00:10:19.490 --> 00:10:21.040 align:start position:0% and soon I will have like some more like formal<00:10:19.880> notation<00:10:20.120> with<00:10:20.420> how<00:10:20.510> the<00:10:20.569> exit<00:10:20.899> game 00:10:21.040 --> 00:10:21.050 align:start position:0% formal notation with how the exit game 00:10:21.050 --> 00:10:22.930 align:start position:0% formal notation with how the exit game and<00:10:21.260> the<00:10:21.319> finalists<00:10:21.949> in<00:10:22.100> the<00:10:22.250> state<00:10:22.790> and 00:10:22.930 --> 00:10:22.940 align:start position:0% and the finalists in the state and 00:10:22.940 --> 00:10:26.620 align:start position:0% and the finalists in the state and visions<00:10:23.240> work<00:10:23.709> so<00:10:24.730> first<00:10:25.730> of<00:10:25.880> all<00:10:25.970> like<00:10:26.180> why 00:10:26.620 --> 00:10:26.630 align:start position:0% visions work so first of all like why 00:10:26.630 --> 00:10:29.530 align:start position:0% visions work so first of all like why it's<00:10:27.560> real<00:10:27.740> we<00:10:28.190> didn't<00:10:28.339> do<00:10:28.430> it<00:10:28.519> like<00:10:28.670> in<00:10:29.300> pretty 00:10:29.530 --> 00:10:29.540 align:start position:0% it's real we didn't do it like in pretty 00:10:29.540 --> 00:10:31.210 align:start position:0% it's real we didn't do it like in pretty realistic<00:10:30.110> timeframes<00:10:30.589> I<00:10:30.769> believe<00:10:31.040> that<00:10:31.190> I 00:10:31.210 --> 00:10:31.220 align:start position:0% realistic timeframes I believe that I 00:10:31.220 --> 00:10:32.949 align:start position:0% realistic timeframes I believe that I started<00:10:31.579> working<00:10:31.880> on<00:10:31.970> it<00:10:32.120> on<00:10:32.240> me<00:10:32.420> and<00:10:32.630> we<00:10:32.779> had 00:10:32.949 --> 00:10:32.959 align:start position:0% started working on it on me and we had 00:10:32.959 --> 00:10:34.269 align:start position:0% started working on it on me and we had like<00:10:33.139> an<00:10:33.260> implementation<00:10:33.889> within<00:10:34.069> a<00:10:34.100> month 00:10:34.269 --> 00:10:34.279 align:start position:0% like an implementation within a month 00:10:34.279 --> 00:10:38.350 align:start position:0% like an implementation within a month and<00:10:34.430> a<00:10:34.459> half<00:10:34.490> so<00:10:34.970> it's<00:10:35.360> real<00:10:36.490> we<00:10:37.490> have<00:10:37.670> low<00:10:38.120> data 00:10:38.350 --> 00:10:38.360 align:start position:0% and a half so it's real we have low data 00:10:38.360 --> 00:10:39.819 align:start position:0% and a half so it's real we have low data requirements<00:10:38.990> for<00:10:39.050> the<00:10:39.139> light<00:10:39.319> clients<00:10:39.709> like 00:10:39.819 --> 00:10:39.829 align:start position:0% requirements for the light clients like 00:10:39.829 --> 00:10:42.100 align:start position:0% requirements for the light clients like okay<00:10:40.130> it's<00:10:40.370> not<00:10:40.550> really<00:10:40.819> low<00:10:41.300> but<00:10:41.810> it's<00:10:41.959> lower 00:10:42.100 --> 00:10:42.110 align:start position:0% okay it's not really low but it's lower 00:10:42.110 --> 00:10:43.840 align:start position:0% okay it's not really low but it's lower than<00:10:42.260> any<00:10:42.620> other<00:10:42.800> available<00:10:43.399> solutions<00:10:43.760> I 00:10:43.840 --> 00:10:43.850 align:start position:0% than any other available solutions I 00:10:43.850 --> 00:10:45.910 align:start position:0% than any other available solutions I will<00:10:44.000> claim<00:10:44.209> it's<00:10:44.360> low<00:10:44.480> and<00:10:44.779> you<00:10:45.589> can<00:10:45.620> have 00:10:45.910 --> 00:10:45.920 align:start position:0% will claim it's low and you can have 00:10:45.920 --> 00:10:47.829 align:start position:0% will claim it's low and you can have like<00:10:46.100> this<00:10:46.279> modular<00:10:47.000> architecture<00:10:47.089> where<00:10:47.630> if 00:10:47.829 --> 00:10:47.839 align:start position:0% like this modular architecture where if 00:10:47.839 --> 00:10:49.780 align:start position:0% like this modular architecture where if anything<00:10:48.470> that<00:10:48.649> you<00:10:49.100> don't<00:10:49.279> like<00:10:49.490> you<00:10:49.730> just 00:10:49.780 --> 00:10:49.790 align:start position:0% anything that you don't like you just 00:10:49.790 --> 00:10:51.490 align:start position:0% anything that you don't like you just add<00:10:50.120> the<00:10:50.209> plug-in<00:10:50.389> so<00:10:50.720> this<00:10:50.930> whole<00:10:51.079> naming 00:10:51.490 --> 00:10:51.500 align:start position:0% add the plug-in so this whole naming 00:10:51.500 --> 00:10:54.460 align:start position:0% add the plug-in so this whole naming convention<00:10:52.010> thing<00:10:52.190> I'll<00:10:52.730> talk<00:10:52.970> about<00:10:53.029> also<00:10:53.569> so 00:10:54.460 --> 00:10:54.470 align:start position:0% convention thing I'll talk about also so 00:10:54.470 --> 00:10:56.439 align:start position:0% convention thing I'll talk about also so I<00:10:54.980> believe<00:10:55.519> that<00:10:55.550> this<00:10:55.760> is<00:10:55.819> very<00:10:55.910> good<00:10:56.120> code 00:10:56.439 --> 00:10:56.449 align:start position:0% I believe that this is very good code 00:10:56.449 --> 00:10:58.600 align:start position:0% I believe that this is very good code you<00:10:56.630> slide<00:10:56.839> like<00:10:57.079> to<00:10:57.470> like<00:10:57.800> get<00:10:58.220> people<00:10:58.339> to 00:10:58.600 --> 00:10:58.610 align:start position:0% you slide like to like get people to 00:10:58.610 --> 00:10:59.889 align:start position:0% you slide like to like get people to understand<00:10:59.060> like<00:10:59.209> what<00:10:59.389> are<00:10:59.480> the<00:10:59.630> difference 00:10:59.889 --> 00:10:59.899 align:start position:0% understand like what are the difference 00:10:59.899 --> 00:11:02.530 align:start position:0% understand like what are the difference of<00:11:00.110> its<00:11:00.260> variant<00:11:00.769> so<00:11:01.519> the<00:11:01.819> ones<00:11:02.000> that<00:11:02.209> we<00:11:02.449> are 00:11:02.530 --> 00:11:02.540 align:start position:0% of its variant so the ones that we are 00:11:02.540 --> 00:11:04.809 align:start position:0% of its variant so the ones that we are working<00:11:02.750> on<00:11:02.990> and<00:11:03.199> much<00:11:03.500> thanks<00:11:03.890> to<00:11:04.040> Ron<00:11:04.339> J<00:11:04.459> for 00:11:04.809 --> 00:11:04.819 align:start position:0% working on and much thanks to Ron J for 00:11:04.819 --> 00:11:05.500 align:start position:0% working on and much thanks to Ron J for maybe 00:11:05.500 --> 00:11:05.510 align:start position:0% maybe 00:11:05.510 --> 00:11:08.319 align:start position:0% maybe name<00:11:05.810> wrong<00:11:05.959> -<00:11:06.889> for<00:11:07.370> all<00:11:07.610> the<00:11:07.639> discussion<00:11:08.149> for 00:11:08.319 --> 00:11:08.329 align:start position:0% name wrong - for all the discussion for 00:11:08.329 --> 00:11:11.860 align:start position:0% name wrong - for all the discussion for this<00:11:08.649> is<00:11:09.649> that<00:11:09.880> they<00:11:10.880> whenever<00:11:11.480> you<00:11:11.600> depose 00:11:11.860 --> 00:11:11.870 align:start position:0% this is that they whenever you depose 00:11:11.870 --> 00:11:13.810 align:start position:0% this is that they whenever you depose the<00:11:11.990> coin<00:11:12.170> on<00:11:12.410> this<00:11:12.589> violence<00:11:13.160> of<00:11:13.310> plasma<00:11:13.639> cash 00:11:13.810 --> 00:11:13.820 align:start position:0% the coin on this violence of plasma cash 00:11:13.820 --> 00:11:16.329 align:start position:0% the coin on this violence of plasma cash its<00:11:14.360> coin<00:11:14.660> is<00:11:14.810> unique<00:11:14.839> so<00:11:15.500> you<00:11:15.529> have<00:11:15.829> this<00:11:16.010> like 00:11:16.329 --> 00:11:16.339 align:start position:0% its coin is unique so you have this like 00:11:16.339 --> 00:11:18.160 align:start position:0% its coin is unique so you have this like this<00:11:16.610> gives<00:11:17.089> you<00:11:17.180> like<00:11:17.329> a<00:11:17.360> very<00:11:17.510> simple<00:11:17.870> exit 00:11:18.160 --> 00:11:18.170 align:start position:0% this gives you like a very simple exit 00:11:18.170 --> 00:11:20.860 align:start position:0% this gives you like a very simple exit game<00:11:18.350> and<00:11:18.529> it's<00:11:19.250> very<00:11:19.490> like<00:11:19.760> the<00:11:20.240> security's 00:11:20.860 --> 00:11:20.870 align:start position:0% game and it's very like the security's 00:11:20.870 --> 00:11:23.500 align:start position:0% game and it's very like the security's tight<00:11:21.110> and<00:11:21.500> what<00:11:22.250> you<00:11:22.339> can<00:11:22.490> do<00:11:22.639> is<00:11:22.790> that<00:11:22.940> but<00:11:23.389> it 00:11:23.500 --> 00:11:23.510 align:start position:0% tight and what you can do is that but it 00:11:23.510 --> 00:11:24.910 align:start position:0% tight and what you can do is that but it has<00:11:23.660> some<00:11:23.870> problems<00:11:24.260> it<00:11:24.410> doesn't<00:11:24.769> have<00:11:24.889> like 00:11:24.910 --> 00:11:24.920 align:start position:0% has some problems it doesn't have like 00:11:24.920 --> 00:11:27.550 align:start position:0% has some problems it doesn't have like fungible<00:11:25.490> payments<00:11:25.940> it<00:11:26.180> doesn't<00:11:26.660> history 00:11:27.550 --> 00:11:27.560 align:start position:0% fungible payments it doesn't history 00:11:27.560 --> 00:11:29.560 align:start position:0% fungible payments it doesn't history goes<00:11:27.860> like<00:11:28.100> hell<00:11:28.220> so<00:11:28.820> what<00:11:28.970> you<00:11:29.089> can<00:11:29.209> do<00:11:29.360> is 00:11:29.560 --> 00:11:29.570 align:start position:0% goes like hell so what you can do is 00:11:29.570 --> 00:11:31.120 align:start position:0% goes like hell so what you can do is that<00:11:29.990> you<00:11:30.050> can<00:11:30.260> either<00:11:30.350> like<00:11:30.649> you<00:11:30.800> some<00:11:31.010> magic 00:11:31.120 --> 00:11:31.130 align:start position:0% that you can either like you some magic 00:11:31.130 --> 00:11:33.579 align:start position:0% that you can either like you some magic like<00:11:31.430> I<00:11:31.670> say<00:11:32.149> accumulator<00:11:32.600> 0<00:11:33.230> in<00:11:33.320> all<00:11:33.410> its 00:11:33.579 --> 00:11:33.589 align:start position:0% like I say accumulator 0 in all its 00:11:33.589 --> 00:11:35.800 align:start position:0% like I say accumulator 0 in all its proofs<00:11:33.800> to<00:11:34.010> prove<00:11:34.310> the<00:11:35.000> coin<00:11:35.209> store<00:11:35.510> in<00:11:35.630> a<00:11:35.690> more 00:11:35.800 --> 00:11:35.810 align:start position:0% proofs to prove the coin store in a more 00:11:35.810 --> 00:11:38.319 align:start position:0% proofs to prove the coin store in a more compact<00:11:36.110> way<00:11:36.399> and<00:11:37.399> the<00:11:37.639> other<00:11:37.730> thing<00:11:38.029> is<00:11:38.180> that 00:11:38.319 --> 00:11:38.329 align:start position:0% compact way and the other thing is that 00:11:38.329 --> 00:11:39.910 align:start position:0% compact way and the other thing is that we<00:11:38.630> need<00:11:38.750> to<00:11:38.810> like<00:11:39.110> if<00:11:39.260> we<00:11:39.350> want<00:11:39.529> to<00:11:39.649> do<00:11:39.740> like 00:11:39.910 --> 00:11:39.920 align:start position:0% we need to like if we want to do like 00:11:39.920 --> 00:11:41.829 align:start position:0% we need to like if we want to do like fungible<00:11:40.339> payments<00:11:40.730> with<00:11:40.850> multiple<00:11:41.360> ones<00:11:41.480> you 00:11:41.829 --> 00:11:41.839 align:start position:0% fungible payments with multiple ones you 00:11:41.839 --> 00:11:43.210 align:start position:0% fungible payments with multiple ones you can<00:11:41.990> apply<00:11:42.230> the<00:11:42.290> other<00:11:42.529> technique<00:11:42.949> that<00:11:43.130> you 00:11:43.210 --> 00:11:43.220 align:start position:0% can apply the other technique that you 00:11:43.220 --> 00:11:45.519 align:start position:0% can apply the other technique that you break<00:11:43.370> a<00:11:43.459> coin<00:11:43.699> down<00:11:43.910> in<00:11:44.149> 100<00:11:44.660> pieces<00:11:45.019> and<00:11:45.199> you 00:11:45.519 --> 00:11:45.529 align:start position:0% break a coin down in 100 pieces and you 00:11:45.529 --> 00:11:47.259 align:start position:0% break a coin down in 100 pieces and you have<00:11:45.680> the<00:11:45.769> user<00:11:45.949> transferring<00:11:46.670> the<00:11:46.820> sub 00:11:47.259 --> 00:11:47.269 align:start position:0% have the user transferring the sub 00:11:47.269 --> 00:11:48.910 align:start position:0% have the user transferring the sub pieces<00:11:47.630> of<00:11:47.750> it<00:11:47.870> and<00:11:48.019> whenever<00:11:48.740> you're 00:11:48.910 --> 00:11:48.920 align:start position:0% pieces of it and whenever you're 00:11:48.920 --> 00:11:50.139 align:start position:0% pieces of it and whenever you're speaking<00:11:49.220> about<00:11:49.250> the<00:11:49.459> coin<00:11:49.639> you're<00:11:49.850> actually 00:11:50.139 --> 00:11:50.149 align:start position:0% speaking about the coin you're actually 00:11:50.149 --> 00:11:53.560 align:start position:0% speaking about the coin you're actually talking<00:11:50.360> about<00:11:50.389> a<00:11:50.660> range<00:11:50.899> of<00:11:51.079> coins<00:11:51.560> or<00:11:52.570> just 00:11:53.560 --> 00:11:53.570 align:start position:0% talking about a range of coins or just 00:11:53.570 --> 00:11:56.650 align:start position:0% talking about a range of coins or just you<00:11:53.690> stay<00:11:53.899> tuned<00:11:54.110> yeah<00:11:54.760> I'm<00:11:55.760> very<00:11:56.060> I'm<00:11:56.360> a<00:11:56.420> very 00:11:56.650 --> 00:11:56.660 align:start position:0% you stay tuned yeah I'm very I'm a very 00:11:56.660 --> 00:11:58.509 align:start position:0% you stay tuned yeah I'm very I'm a very big<00:11:56.810> fan<00:11:56.839> of<00:11:57.050> states<00:11:57.350> on<00:11:57.500> plasma<00:11:58.100> but<00:11:58.279> we'll 00:11:58.509 --> 00:11:58.519 align:start position:0% big fan of states on plasma but we'll 00:11:58.519 --> 00:12:00.939 align:start position:0% big fan of states on plasma but we'll talk<00:11:58.670> about<00:11:58.760> that<00:11:58.970> later<00:11:59.029> so<00:11:59.930> the<00:12:00.800> other 00:12:00.939 --> 00:12:00.949 align:start position:0% talk about that later so the other 00:12:00.949 --> 00:12:03.430 align:start position:0% talk about that later so the other variants<00:12:01.490> there<00:12:01.820> are<00:12:01.910> the<00:12:02.000> plasma<00:12:02.360> MVP<00:12:02.690> ones 00:12:03.430 --> 00:12:03.440 align:start position:0% variants there are the plasma MVP ones 00:12:03.440 --> 00:12:05.620 align:start position:0% variants there are the plasma MVP ones which<00:12:03.800> I<00:12:04.190> argued<00:12:04.699> earlier<00:12:04.790> that<00:12:05.180> they<00:12:05.329> require 00:12:05.620 --> 00:12:05.630 align:start position:0% which I argued earlier that they require 00:12:05.630 --> 00:12:07.689 align:start position:0% which I argued earlier that they require too<00:12:05.720> much<00:12:05.810> data<00:12:06.079> and<00:12:06.380> they<00:12:06.709> also<00:12:06.889> require<00:12:07.130> they 00:12:07.689 --> 00:12:07.699 align:start position:0% too much data and they also require they 00:12:07.699 --> 00:12:09.939 align:start position:0% too much data and they also require they they<00:12:08.360> also<00:12:08.660> require<00:12:09.019> sort<00:12:09.290> of<00:12:09.380> priority<00:12:09.829> queue 00:12:09.939 --> 00:12:09.949 align:start position:0% they also require sort of priority queue 00:12:09.949 --> 00:12:12.730 align:start position:0% they also require sort of priority queue construction<00:12:10.519> for<00:12:11.000> exits<00:12:11.720> because<00:12:12.260> if<00:12:12.620> the 00:12:12.730 --> 00:12:12.740 align:start position:0% construction for exits because if the 00:12:12.740 --> 00:12:14.290 align:start position:0% construction for exits because if the operator<00:12:13.069> or<00:12:13.190> the<00:12:13.250> operator<00:12:13.699> is<00:12:13.850> basically 00:12:14.290 --> 00:12:14.300 align:start position:0% operator or the operator is basically 00:12:14.300 --> 00:12:15.699 align:start position:0% operator or the operator is basically able<00:12:14.449> to<00:12:14.600> create<00:12:14.810> a<00:12:14.839> huge<00:12:15.079> utak<00:12:15.380> so<00:12:15.560> which 00:12:15.699 --> 00:12:15.709 align:start position:0% able to create a huge utak so which 00:12:15.709 --> 00:12:17.319 align:start position:0% able to create a huge utak so which exits<00:12:16.069> the<00:12:16.130> whole<00:12:16.310> chain<00:12:16.550> which<00:12:16.970> would<00:12:17.149> make 00:12:17.319 --> 00:12:17.329 align:start position:0% exits the whole chain which would make 00:12:17.329 --> 00:12:19.660 align:start position:0% exits the whole chain which would make the<00:12:17.569> fractional<00:12:17.930> reserve<00:12:18.019> and<00:12:18.529> you<00:12:19.250> need<00:12:19.399> a 00:12:19.660 --> 00:12:19.670 align:start position:0% the fractional reserve and you need a 00:12:19.670 --> 00:12:21.280 align:start position:0% the fractional reserve and you need a mass<00:12:19.880> exit<00:12:20.240> which<00:12:20.449> to<00:12:20.600> my<00:12:20.720> knowledge<00:12:20.930> there<00:12:21.230> is 00:12:21.280 --> 00:12:21.290 align:start position:0% mass exit which to my knowledge there is 00:12:21.290 --> 00:12:23.170 align:start position:0% mass exit which to my knowledge there is no<00:12:21.350> working<00:12:21.800> mass<00:12:21.980> mass<00:12:22.339> exit<00:12:22.639> scheme<00:12:22.819> to<00:12:23.029> date 00:12:23.170 --> 00:12:23.180 align:start position:0% no working mass mass exit scheme to date 00:12:23.180 --> 00:12:26.290 align:start position:0% no working mass mass exit scheme to date and<00:12:24.190> on<00:12:25.190> top<00:12:25.459> of<00:12:25.490> it<00:12:25.670> we're<00:12:25.850> not<00:12:25.970> the<00:12:26.120> more 00:12:26.290 --> 00:12:26.300 align:start position:0% and on top of it we're not the more 00:12:26.300 --> 00:12:29.199 align:start position:0% and on top of it we're not the more viable<00:12:26.510> plasma<00:12:27.019> which<00:12:27.680> first<00:12:28.310> off<00:12:28.579> to<00:12:28.819> like 00:12:29.199 --> 00:12:29.209 align:start position:0% viable plasma which first off to like 00:12:29.209 --> 00:12:31.960 align:start position:0% viable plasma which first off to like solve<00:12:29.480> you<00:12:29.690> to<00:12:29.870> make<00:12:30.290> us<00:12:30.589> better<00:12:30.769> and<00:12:31.279> most 00:12:31.960 --> 00:12:31.970 align:start position:0% solve you to make us better and most 00:12:31.970 --> 00:12:34.199 align:start position:0% solve you to make us better and most viable<00:12:32.240> plasma<00:12:32.660> one<00:12:32.779> day<00:12:32.930> I<00:12:33.230> don't<00:12:33.440> know<00:12:33.500> and 00:12:34.199 --> 00:12:34.209 align:start position:0% viable plasma one day I don't know and 00:12:34.209 --> 00:12:38.410 align:start position:0% viable plasma one day I don't know and yeah<00:12:35.440> you<00:12:36.440> can<00:12:36.560> use<00:12:36.800> narcs<00:12:37.310> to<00:12:37.699> verify<00:12:38.360> the 00:12:38.410 --> 00:12:38.420 align:start position:0% yeah you can use narcs to verify the 00:12:38.420 --> 00:12:40.480 align:start position:0% yeah you can use narcs to verify the state<00:12:38.779> transitions<00:12:39.380> from<00:12:39.560> like<00:12:39.980> one<00:12:40.190> thing<00:12:40.370> to 00:12:40.480 --> 00:12:40.490 align:start position:0% state transitions from like one thing to 00:12:40.490 --> 00:12:44.009 align:start position:0% state transitions from like one thing to another<00:12:40.610> so<00:12:41.060> currently<00:12:41.389> what<00:12:41.630> we<00:12:41.750> have<00:12:42.190> is 00:12:44.009 --> 00:12:44.019 align:start position:0% another so currently what we have is 00:12:44.019 --> 00:12:47.590 align:start position:0% another so currently what we have is that<00:12:45.019> we<00:12:45.800> do<00:12:46.010> transaction<00:12:46.639> routes<00:12:46.819> so<00:12:47.360> anytime 00:12:47.590 --> 00:12:47.600 align:start position:0% that we do transaction routes so anytime 00:12:47.600 --> 00:12:49.300 align:start position:0% that we do transaction routes so anytime you<00:12:47.839> submit<00:12:48.139> a<00:12:48.170> block<00:12:48.440> you<00:12:48.680> don't<00:12:49.040> actually 00:12:49.300 --> 00:12:49.310 align:start position:0% you submit a block you don't actually 00:12:49.310 --> 00:12:50.769 align:start position:0% you submit a block you don't actually submit<00:12:49.579> the<00:12:49.670> state<00:12:49.910> route<00:12:50.120> so<00:12:50.360> it's<00:12:50.510> not<00:12:50.660> the 00:12:50.769 --> 00:12:50.779 align:start position:0% submit the state route so it's not the 00:12:50.779 --> 00:12:52.809 align:start position:0% submit the state route so it's not the latest<00:12:50.959> state<00:12:51.260> so<00:12:51.769> you<00:12:51.800> need<00:12:52.339> to<00:12:52.399> like<00:12:52.579> go 00:12:52.809 --> 00:12:52.819 align:start position:0% latest state so you need to like go 00:12:52.819 --> 00:12:55.480 align:start position:0% latest state so you need to like go literal<00:12:53.180> a<00:12:53.690> whole<00:12:53.930> block<00:12:54.170> history<00:12:54.560> well<00:12:55.130> in 00:12:55.480 --> 00:12:55.490 align:start position:0% literal a whole block history well in 00:12:55.490 --> 00:12:57.370 align:start position:0% literal a whole block history well in this<00:12:55.639> case<00:12:55.880> you<00:12:56.269> just<00:12:56.480> have<00:12:56.720> the<00:12:56.930> state<00:12:57.170> route 00:12:57.370 --> 00:12:57.380 align:start position:0% this case you just have the state route 00:12:57.380 --> 00:12:59.139 align:start position:0% this case you just have the state route and<00:12:57.620> it's<00:12:57.949> like<00:12:58.190> it's<00:12:58.370> there<00:12:58.550> you<00:12:58.730> know<00:12:58.940> it's 00:12:59.139 --> 00:12:59.149 align:start position:0% and it's like it's there you know it's 00:12:59.149 --> 00:13:00.910 align:start position:0% and it's like it's there you know it's there<00:12:59.480> because<00:12:59.660> you<00:12:59.899> have<00:13:00.079> this<00:13:00.290> whatever 00:13:00.910 --> 00:13:00.920 align:start position:0% there because you have this whatever 00:13:00.920 --> 00:13:04.559 align:start position:0% there because you have this whatever black<00:13:01.220> magic<00:13:01.610> box<00:13:01.850> that<00:13:02.199> it<00:13:03.199> it<00:13:03.649> proves<00:13:03.920> your 00:13:04.559 --> 00:13:04.569 align:start position:0% black magic box that it it proves your 00:13:04.569 --> 00:13:08.079 align:start position:0% black magic box that it it proves your assumptions<00:13:05.569> so<00:13:06.370> I'm<00:13:07.370> pretty<00:13:07.579> sure<00:13:07.760> this<00:13:07.910> is<00:13:08.029> a 00:13:08.079 --> 00:13:08.089 align:start position:0% assumptions so I'm pretty sure this is a 00:13:08.089 --> 00:13:09.519 align:start position:0% assumptions so I'm pretty sure this is a good<00:13:08.209> taxonomy<00:13:08.630> unlike<00:13:08.990> which<00:13:09.260> are<00:13:09.410> the 00:13:09.519 --> 00:13:09.529 align:start position:0% good taxonomy unlike which are the 00:13:09.529 --> 00:13:11.980 align:start position:0% good taxonomy unlike which are the violence<00:13:09.860> of<00:13:09.949> plasma<00:13:10.430> and<00:13:10.610> they're<00:13:11.240> okay<00:13:11.660> to 00:13:11.980 --> 00:13:11.990 align:start position:0% violence of plasma and they're okay to 00:13:11.990 --> 00:13:13.449 align:start position:0% violence of plasma and they're okay to be<00:13:12.079> fair<00:13:12.260> these<00:13:12.740> are<00:13:12.860> the<00:13:12.980> variants<00:13:13.279> that<00:13:13.339> are 00:13:13.449 --> 00:13:13.459 align:start position:0% be fair these are the variants that are 00:13:13.459 --> 00:13:16.240 align:start position:0% be fair these are the variants that are based<00:13:13.670> on<00:13:13.790> payments<00:13:14.240> and<00:13:14.680> the<00:13:15.680> payment<00:13:15.709> the 00:13:16.240 --> 00:13:16.250 align:start position:0% based on payments and the payment the 00:13:16.250 --> 00:13:17.800 align:start position:0% based on payments and the payment the violence<00:13:16.550> are<00:13:16.699> based<00:13:16.939> on<00:13:17.089> smart<00:13:17.390> contracts 00:13:17.800 --> 00:13:17.810 align:start position:0% violence are based on smart contracts 00:13:17.810 --> 00:13:18.440 align:start position:0% violence are based on smart contracts I'm<00:13:18.140> not 00:13:18.440 --> 00:13:18.450 align:start position:0% I'm not 00:13:18.450 --> 00:13:22.579 align:start position:0% I'm not well-informed<00:13:18.959> women<00:13:19.820> but<00:13:20.820> very<00:13:21.240> very<00:13:21.360> fun<00:13:21.589> so 00:13:22.579 --> 00:13:22.589 align:start position:0% well-informed women but very very fun so 00:13:22.589 --> 00:13:25.879 align:start position:0% well-informed women but very very fun so to<00:13:23.459> do<00:13:24.000> like<00:13:24.300> a<00:13:24.329> quick<00:13:24.510> technology<00:13:25.200> primer<00:13:25.440> so 00:13:25.879 --> 00:13:25.889 align:start position:0% to do like a quick technology primer so 00:13:25.889 --> 00:13:27.860 align:start position:0% to do like a quick technology primer so the<00:13:26.370> main<00:13:26.639> data<00:13:26.880> structure<00:13:27.269> that<00:13:27.329> we<00:13:27.570> use<00:13:27.600> in 00:13:27.860 --> 00:13:27.870 align:start position:0% the main data structure that we use in 00:13:27.870 --> 00:13:29.569 align:start position:0% the main data structure that we use in plasma<00:13:28.170> cash<00:13:28.500> it's<00:13:28.740> a<00:13:28.829> sparse<00:13:29.130> medical<00:13:29.430> tree 00:13:29.569 --> 00:13:29.579 align:start position:0% plasma cash it's a sparse medical tree 00:13:29.579 --> 00:13:31.699 align:start position:0% plasma cash it's a sparse medical tree it's<00:13:29.970> basically<00:13:30.269> a<00:13:30.420> tree<00:13:30.630> which<00:13:31.050> has<00:13:31.230> all<00:13:31.470> the 00:13:31.699 --> 00:13:31.709 align:start position:0% it's basically a tree which has all the 00:13:31.709 --> 00:13:35.210 align:start position:0% it's basically a tree which has all the it<00:13:32.100> has<00:13:32.370> like<00:13:32.579> whatever<00:13:32.959> leaf<00:13:33.959> amount<00:13:34.709> you 00:13:35.210 --> 00:13:35.220 align:start position:0% it has like whatever leaf amount you 00:13:35.220 --> 00:13:37.610 align:start position:0% it has like whatever leaf amount you want<00:13:35.370> it's<00:13:36.120> all<00:13:36.389> pre<00:13:36.540> computed<00:13:36.959> so<00:13:37.350> it's<00:13:37.500> all 00:13:37.610 --> 00:13:37.620 align:start position:0% want it's all pre computed so it's all 00:13:37.620 --> 00:13:38.810 align:start position:0% want it's all pre computed so it's all like<00:13:37.829> in<00:13:37.949> the<00:13:38.040> default<00:13:38.339> values 00:13:38.810 --> 00:13:38.820 align:start position:0% like in the default values 00:13:38.820 --> 00:13:40.759 align:start position:0% like in the default values it's<00:13:38.940> the<00:13:39.089> hash<00:13:39.269> of<00:13:39.389> 0<00:13:39.630> or<00:13:39.899> whether<00:13:40.230> or<00:13:40.350> not<00:13:40.440> one 00:13:40.759 --> 00:13:40.769 align:start position:0% it's the hash of 0 or whether or not one 00:13:40.769 --> 00:13:42.980 align:start position:0% it's the hash of 0 or whether or not one you<00:13:40.889> want<00:13:41.130> and<00:13:41.490> to<00:13:42.029> prove<00:13:42.149> their<00:13:42.389> inclusion<00:13:42.750> of 00:13:42.980 --> 00:13:42.990 align:start position:0% you want and to prove their inclusion of 00:13:42.990 --> 00:13:44.689 align:start position:0% you want and to prove their inclusion of an<00:13:43.170> element<00:13:43.529> you<00:13:43.620> do<00:13:43.740> in<00:13:44.070> the<00:13:44.190> classic<00:13:44.550> way 00:13:44.689 --> 00:13:44.699 align:start position:0% an element you do in the classic way 00:13:44.699 --> 00:13:46.250 align:start position:0% an element you do in the classic way that<00:13:44.970> you<00:13:45.089> just<00:13:45.329> provide<00:13:45.690> the<00:13:45.779> Myrtle<00:13:46.050> branch 00:13:46.250 --> 00:13:46.260 align:start position:0% that you just provide the Myrtle branch 00:13:46.260 --> 00:13:47.329 align:start position:0% that you just provide the Myrtle branch with<00:13:46.440> the<00:13:46.470> siblings<00:13:46.860> everything<00:13:47.220> I'm 00:13:47.329 --> 00:13:47.339 align:start position:0% with the siblings everything I'm 00:13:47.339 --> 00:13:49.100 align:start position:0% with the siblings everything I'm assuming<00:13:47.699> that<00:13:47.730> people<00:13:47.970> know<00:13:48.209> how<00:13:48.420> it<00:13:48.540> works 00:13:49.100 --> 00:13:49.110 align:start position:0% assuming that people know how it works 00:13:49.110 --> 00:13:52.250 align:start position:0% assuming that people know how it works and<00:13:50.120> the<00:13:51.120> fun<00:13:51.329> part<00:13:51.360> is<00:13:51.690> that<00:13:51.839> you<00:13:52.230> can 00:13:52.250 --> 00:13:52.260 align:start position:0% and the fun part is that you can 00:13:52.260 --> 00:13:53.689 align:start position:0% and the fun part is that you can actually<00:13:52.529> prove<00:13:52.800> non-inclusion 00:13:53.689 --> 00:13:53.699 align:start position:0% actually prove non-inclusion 00:13:53.699 --> 00:13:56.389 align:start position:0% actually prove non-inclusion by<00:13:54.269> giving<00:13:54.630> an<00:13:54.839> proof<00:13:55.230> of<00:13:55.410> inclusion<00:13:55.980> of<00:13:56.130> the 00:13:56.389 --> 00:13:56.399 align:start position:0% by giving an proof of inclusion of the 00:13:56.399 --> 00:13:58.490 align:start position:0% by giving an proof of inclusion of the zero<00:13:56.610> hash<00:13:56.880> of<00:13:57.089> the<00:13:57.360> hash<00:13:57.389> of<00:13:57.660> zero<00:13:57.870> at<00:13:58.260> this 00:13:58.490 --> 00:13:58.500 align:start position:0% zero hash of the hash of zero at this 00:13:58.500 --> 00:14:00.500 align:start position:0% zero hash of the hash of zero at this leaf<00:13:58.740> and<00:13:58.920> this<00:13:59.430> is<00:13:59.519> very<00:13:59.699> convenient<00:14:00.240> because 00:14:00.500 --> 00:14:00.510 align:start position:0% leaf and this is very convenient because 00:14:00.510 --> 00:14:02.360 align:start position:0% leaf and this is very convenient because we<00:14:00.750> can<00:14:00.899> this<00:14:01.199> is<00:14:01.260> what<00:14:01.500> basically<00:14:02.040> makes 00:14:02.360 --> 00:14:02.370 align:start position:0% we can this is what basically makes 00:14:02.370 --> 00:14:05.090 align:start position:0% we can this is what basically makes plasma<00:14:02.699> cash<00:14:02.850> work<00:14:03.029> and<00:14:03.769> you<00:14:04.769> can<00:14:04.949> actually 00:14:05.090 --> 00:14:05.100 align:start position:0% plasma cash work and you can actually 00:14:05.100 --> 00:14:06.980 align:start position:0% plasma cash work and you can actually have<00:14:05.370> some<00:14:05.639> very<00:14:05.790> nice<00:14:05.940> optimizations<00:14:06.720> on<00:14:06.839> top 00:14:06.980 --> 00:14:06.990 align:start position:0% have some very nice optimizations on top 00:14:06.990 --> 00:14:08.300 align:start position:0% have some very nice optimizations on top of<00:14:07.079> this<00:14:07.199> so<00:14:07.410> because<00:14:07.709> all<00:14:07.860> the<00:14:07.889> values<00:14:08.220> are 00:14:08.300 --> 00:14:08.310 align:start position:0% of this so because all the values are 00:14:08.310 --> 00:14:09.949 align:start position:0% of this so because all the values are computed<00:14:08.699> when<00:14:09.149> I'm<00:14:09.269> giving<00:14:09.540> the<00:14:09.630> miracle 00:14:09.949 --> 00:14:09.959 align:start position:0% computed when I'm giving the miracle 00:14:09.959 --> 00:14:12.230 align:start position:0% computed when I'm giving the miracle proof<00:14:10.110> I'd<00:14:10.380> not<00:14:10.709> need<00:14:10.889> to<00:14:11.040> give<00:14:11.250> like<00:14:11.579> 32<00:14:12.029> bytes 00:14:12.230 --> 00:14:12.240 align:start position:0% proof I'd not need to give like 32 bytes 00:14:12.240 --> 00:14:14.360 align:start position:0% proof I'd not need to give like 32 bytes every<00:14:12.480> time<00:14:12.690> whenever<00:14:13.290> I<00:14:13.440> want<00:14:13.980> to<00:14:14.070> give<00:14:14.220> the 00:14:14.360 --> 00:14:14.370 align:start position:0% every time whenever I want to give the 00:14:14.370 --> 00:14:16.340 align:start position:0% every time whenever I want to give the default<00:14:14.699> value<00:14:15.000> for<00:14:15.029> a<00:14:15.149> sibling<00:14:15.420> I<00:14:15.750> can<00:14:16.170> just 00:14:16.340 --> 00:14:16.350 align:start position:0% default value for a sibling I can just 00:14:16.350 --> 00:14:18.259 align:start position:0% default value for a sibling I can just give<00:14:16.529> a<00:14:16.709> bit<00:14:16.889> field<00:14:17.130> and<00:14:17.399> this<00:14:17.760> like<00:14:18.089> it's 00:14:18.259 --> 00:14:18.269 align:start position:0% give a bit field and this like it's 00:14:18.269 --> 00:14:20.000 align:start position:0% give a bit field and this like it's really<00:14:18.540> one<00:14:18.720> bit<00:14:18.899> where<00:14:19.139> it's<00:14:19.230> 32<00:14:19.529> bytes<00:14:19.740> and 00:14:20.000 --> 00:14:20.010 align:start position:0% really one bit where it's 32 bytes and 00:14:20.010 --> 00:14:22.639 align:start position:0% really one bit where it's 32 bytes and in<00:14:20.880> this<00:14:21.029> very<00:14:21.329> simple<00:14:21.630> example<00:14:22.050> so<00:14:22.079> like 00:14:22.639 --> 00:14:22.649 align:start position:0% in this very simple example so like 00:14:22.649 --> 00:14:24.470 align:start position:0% in this very simple example so like instead<00:14:22.890> normal<00:14:23.550> is<00:14:23.640> a<00:14:23.730> miracle<00:14:23.880> path<00:14:24.149> you 00:14:24.470 --> 00:14:24.480 align:start position:0% instead normal is a miracle path you 00:14:24.480 --> 00:14:26.180 align:start position:0% instead normal is a miracle path you have<00:14:24.510> been<00:14:24.839> house<00:14:25.019> of<00:14:25.170> zero<00:14:25.350> and<00:14:25.470> they<00:14:25.589> and<00:14:26.070> the 00:14:26.180 --> 00:14:26.190 align:start position:0% have been house of zero and they and the 00:14:26.190 --> 00:14:28.759 align:start position:0% have been house of zero and they and the higher<00:14:26.339> lever<00:14:26.550> one<00:14:26.760> that's<00:14:27.269> 64<00:14:27.959> bytes<00:14:28.170> well 00:14:28.759 --> 00:14:28.769 align:start position:0% higher lever one that's 64 bytes well 00:14:28.769 --> 00:14:30.380 align:start position:0% higher lever one that's 64 bytes well with<00:14:28.980> the<00:14:29.100> optimization<00:14:29.850> for<00:14:29.970> the<00:14:30.089> bitmap 00:14:30.380 --> 00:14:30.390 align:start position:0% with the optimization for the bitmap 00:14:30.390 --> 00:14:33.019 align:start position:0% with the optimization for the bitmap it's<00:14:30.779> two<00:14:31.050> bits<00:14:31.230> and<00:14:31.440> much<00:14:32.010> love<00:14:32.250> to<00:14:32.399> the<00:14:32.550> world 00:14:33.019 --> 00:14:33.029 align:start position:0% it's two bits and much love to the world 00:14:33.029 --> 00:14:35.840 align:start position:0% it's two bits and much love to the world theme<00:14:33.329> for<00:14:33.570> singing<00:14:33.959> this<00:14:34.079> up<00:14:34.230> and<00:14:34.640> having<00:14:35.640> a 00:14:35.840 --> 00:14:35.850 align:start position:0% theme for singing this up and having a 00:14:35.850 --> 00:14:38.660 align:start position:0% theme for singing this up and having a working<00:14:36.060> implementation<00:14:36.769> so<00:14:37.769> the<00:14:38.519> usual 00:14:38.660 --> 00:14:38.670 align:start position:0% working implementation so the usual 00:14:38.670 --> 00:14:42.350 align:start position:0% working implementation so the usual suspect<00:14:40.250> Alice<00:14:41.250> deposit<00:14:41.670> five<00:14:41.820> ether<00:14:42.149> was 00:14:42.350 --> 00:14:42.360 align:start position:0% suspect Alice deposit five ether was 00:14:42.360 --> 00:14:47.420 align:start position:0% suspect Alice deposit five ether was like<00:14:42.660> the<00:14:42.779> actual<00:14:42.990> flow<00:14:43.199> so<00:14:45.860> so<00:14:46.860> at<00:14:47.250> least 00:14:47.420 --> 00:14:47.430 align:start position:0% like the actual flow so so at least 00:14:47.430 --> 00:14:50.030 align:start position:0% like the actual flow so so at least deposits<00:14:48.240> like<00:14:48.360> five<00:14:48.510> III<00:14:48.810> do<00:14:49.709> this<00:14:49.829> part 00:14:50.030 --> 00:14:50.040 align:start position:0% deposits like five III do this part 00:14:50.040 --> 00:14:51.889 align:start position:0% deposits like five III do this part contract<00:14:50.370> the<00:14:50.850> smart<00:14:51.120> Condor<00:14:51.360> amid<00:14:51.720> some 00:14:51.889 --> 00:14:51.899 align:start position:0% contract the smart Condor amid some 00:14:51.899 --> 00:14:53.180 align:start position:0% contract the smart Condor amid some deposed<00:14:52.199> event<00:14:52.529> that<00:14:52.649> the<00:14:52.709> plasma<00:14:52.890> chain 00:14:53.180 --> 00:14:53.190 align:start position:0% deposed event that the plasma chain 00:14:53.190 --> 00:14:54.710 align:start position:0% deposed event that the plasma chain listens<00:14:53.579> the<00:14:53.760> plasma<00:14:54.089> thing<00:14:54.269> is<00:14:54.360> supposed<00:14:54.660> to 00:14:54.710 --> 00:14:54.720 align:start position:0% listens the plasma thing is supposed to 00:14:54.720 --> 00:14:56.810 align:start position:0% listens the plasma thing is supposed to create<00:14:54.870> a<00:14:54.990> new<00:14:55.260> block<00:14:55.529> one<00:14:56.100> new<00:14:56.310> block<00:14:56.579> per 00:14:56.810 --> 00:14:56.820 align:start position:0% create a new block one new block per 00:14:56.820 --> 00:14:58.550 align:start position:0% create a new block one new block per deposit<00:14:57.329> this<00:14:57.870> is<00:14:58.019> not<00:14:58.199> a<00:14:58.230> security 00:14:58.550 --> 00:14:58.560 align:start position:0% deposit this is not a security 00:14:58.560 --> 00:15:00.290 align:start position:0% deposit this is not a security requirement<00:14:59.160> but<00:14:59.310> it<00:14:59.399> makes<00:14:59.610> proving<00:15:00.000> like 00:15:00.290 --> 00:15:00.300 align:start position:0% requirement but it makes proving like 00:15:00.300 --> 00:15:02.000 align:start position:0% requirement but it makes proving like it's<00:15:00.660> an<00:15:00.779> optimization<00:15:01.440> basically<00:15:01.680> this<00:15:01.890> has 00:15:02.000 --> 00:15:02.010 align:start position:0% it's an optimization basically this has 00:15:02.010 --> 00:15:03.620 align:start position:0% it's an optimization basically this has been<00:15:02.190> asked<00:15:02.430> a<00:15:02.490> number<00:15:02.610> of<00:15:02.730> times<00:15:02.850> just<00:15:03.480> to 00:15:03.620 --> 00:15:03.630 align:start position:0% been asked a number of times just to 00:15:03.630 --> 00:15:04.880 align:start position:0% been asked a number of times just to post<00:15:03.839> the<00:15:03.959> coin<00:15:04.170> and<00:15:04.260> you<00:15:04.350> get<00:15:04.470> a<00:15:04.500> new<00:15:04.680> blog 00:15:04.880 --> 00:15:04.890 align:start position:0% post the coin and you get a new blog 00:15:04.890 --> 00:15:08.620 align:start position:0% post the coin and you get a new blog this<00:15:05.310> isn't<00:15:05.640> necessary<00:15:06.029> but<00:15:06.149> it's<00:15:06.750> better<00:15:06.959> and 00:15:08.620 --> 00:15:08.630 align:start position:0% this isn't necessary but it's better and 00:15:08.630 --> 00:15:10.819 align:start position:0% this isn't necessary but it's better and what<00:15:09.630> it<00:15:09.720> does<00:15:09.870> it<00:15:10.019> is<00:15:10.140> it<00:15:10.350> creates<00:15:10.589> a<00:15:10.649> plasma 00:15:10.819 --> 00:15:10.829 align:start position:0% what it does it is it creates a plasma 00:15:10.829 --> 00:15:13.040 align:start position:0% what it does it is it creates a plasma block<00:15:11.100> and<00:15:11.250> get<00:15:11.399> literally<00:15:11.850> a<00:15:11.880> five<00:15:12.720> ether 00:15:13.040 --> 00:15:13.050 align:start position:0% block and get literally a five ether 00:15:13.050 --> 00:15:15.769 align:start position:0% block and get literally a five ether bill<00:15:13.260> if<00:15:13.560> you<00:15:13.709> will<00:15:13.890> and<00:15:14.730> the<00:15:15.420> thing<00:15:15.600> is<00:15:15.750> that 00:15:15.769 --> 00:15:15.779 align:start position:0% bill if you will and the thing is that 00:15:15.779 --> 00:15:17.840 align:start position:0% bill if you will and the thing is that the<00:15:16.290> transaction<00:15:16.589> flow<00:15:16.829> it's<00:15:17.100> like<00:15:17.430> you<00:15:17.670> took 00:15:17.840 --> 00:15:17.850 align:start position:0% the transaction flow it's like you took 00:15:17.850 --> 00:15:19.790 align:start position:0% the transaction flow it's like you took so<00:15:18.089> based<00:15:18.329> but<00:15:18.569> it's<00:15:18.720> one<00:15:18.899> input<00:15:19.079> one<00:15:19.350> output<00:15:19.380> I 00:15:19.790 --> 00:15:19.800 align:start position:0% so based but it's one input one output I 00:15:19.800 --> 00:15:21.680 align:start position:0% so based but it's one input one output I cannot<00:15:20.010> break<00:15:20.220> a<00:15:20.279> cone<00:15:20.519> I<00:15:20.639> just<00:15:20.880> say<00:15:21.060> new<00:15:21.449> owner 00:15:21.680 --> 00:15:21.690 align:start position:0% cannot break a cone I just say new owner 00:15:21.690 --> 00:15:22.780 align:start position:0% cannot break a cone I just say new owner and<00:15:22.019> that's<00:15:22.199> a<00:15:22.319> new<00:15:22.440> owner 00:15:22.780 --> 00:15:22.790 align:start position:0% and that's a new owner 00:15:22.790 --> 00:15:26.300 align:start position:0% and that's a new owner just<00:15:23.790> like<00:15:23.910> catch<00:15:24.089> yeah<00:15:24.449> so<00:15:25.350> I<00:15:25.769> will<00:15:25.980> just<00:15:26.130> go 00:15:26.300 --> 00:15:26.310 align:start position:0% just like catch yeah so I will just go 00:15:26.310 --> 00:15:27.980 align:start position:0% just like catch yeah so I will just go through<00:15:26.370> a<00:15:26.579> simple<00:15:26.819> like<00:15:27.209> example<00:15:27.600> of<00:15:27.810> how 00:15:27.980 --> 00:15:27.990 align:start position:0% through a simple like example of how 00:15:27.990 --> 00:15:29.840 align:start position:0% through a simple like example of how they<00:15:28.230> deposit<00:15:28.769> their<00:15:28.890> transaction<00:15:29.459> flow<00:15:29.550> work 00:15:29.840 --> 00:15:29.850 align:start position:0% they deposit their transaction flow work 00:15:29.850 --> 00:15:32.249 align:start position:0% they deposit their transaction flow work so<00:15:30.089> deposit<00:15:30.779> always<00:15:31.290> deposit<00:15:31.680> the<00:15:31.740> five<00:15:31.920> is 00:15:32.249 --> 00:15:32.259 align:start position:0% so deposit always deposit the five is 00:15:32.259 --> 00:15:34.889 align:start position:0% so deposit always deposit the five is like<00:15:32.470> the<00:15:32.589> five<00:15:32.739> III<00:15:33.009> example<00:15:33.609> so<00:15:34.569> five<00:15:34.779> if 00:15:34.889 --> 00:15:34.899 align:start position:0% like the five III example so five if 00:15:34.899 --> 00:15:37.019 align:start position:0% like the five III example so five if they're<00:15:35.019> like<00:15:35.199> it<00:15:35.499> just<00:15:35.739> appears<00:15:36.069> Alex<00:15:36.879> gives 00:15:37.019 --> 00:15:37.029 align:start position:0% they're like it just appears Alex gives 00:15:37.029 --> 00:15:38.729 align:start position:0% they're like it just appears Alex gives the<00:15:37.089> current<00:15:37.359> Bob<00:15:37.569> but<00:15:38.019> the<00:15:38.169> thing<00:15:38.290> is<00:15:38.319> that<00:15:38.470> at 00:15:38.729 --> 00:15:38.739 align:start position:0% the current Bob but the thing is that at 00:15:38.739 --> 00:15:41.579 align:start position:0% the current Bob but the thing is that at this<00:15:38.859> moment<00:15:39.720> Bob<00:15:40.720> must<00:15:40.929> actually<00:15:41.290> verify 00:15:41.579 --> 00:15:41.589 align:start position:0% this moment Bob must actually verify 00:15:41.589 --> 00:15:43.769 align:start position:0% this moment Bob must actually verify that<00:15:41.829> the<00:15:41.919> Cohen<00:15:42.129> history<00:15:42.429> is<00:15:42.519> valid<00:15:42.819> and<00:15:43.629> now 00:15:43.769 --> 00:15:43.779 align:start position:0% that the Cohen history is valid and now 00:15:43.779 --> 00:15:45.359 align:start position:0% that the Cohen history is valid and now let's<00:15:44.049> consider<00:15:44.259> that<00:15:44.649> there<00:15:44.799> is<00:15:44.889> a<00:15:44.919> new<00:15:45.129> blog 00:15:45.359 --> 00:15:45.369 align:start position:0% let's consider that there is a new blog 00:15:45.369 --> 00:15:47.909 align:start position:0% let's consider that there is a new blog where<00:15:45.939> Alice<00:15:46.329> does<00:15:46.749> a<00:15:46.779> very<00:15:47.049> Bob<00:15:47.259> who<00:15:47.739> is<00:15:47.769> the 00:15:47.909 --> 00:15:47.919 align:start position:0% where Alice does a very Bob who is the 00:15:47.919 --> 00:15:49.590 align:start position:0% where Alice does a very Bob who is the latest<00:15:48.220> valadon<00:15:48.579> over<00:15:48.759> the<00:15:48.850> doesn't<00:15:49.359> move<00:15:49.479> the 00:15:49.590 --> 00:15:49.600 align:start position:0% latest valadon over the doesn't move the 00:15:49.600 --> 00:15:52.409 align:start position:0% latest valadon over the doesn't move the coin<00:15:49.779> and<00:15:50.399> if<00:15:51.399> Bob<00:15:51.699> wants<00:15:51.999> to<00:15:52.059> give<00:15:52.209> the<00:15:52.269> coin 00:15:52.409 --> 00:15:52.419 align:start position:0% coin and if Bob wants to give the coin 00:15:52.419 --> 00:15:54.749 align:start position:0% coin and if Bob wants to give the coin to<00:15:52.569> Charlie<00:15:52.929> Charlie<00:15:53.529> must<00:15:53.979> not<00:15:54.160> only<00:15:54.309> verify 00:15:54.749 --> 00:15:54.759 align:start position:0% to Charlie Charlie must not only verify 00:15:54.759 --> 00:15:56.609 align:start position:0% to Charlie Charlie must not only verify the<00:15:54.819> inclusion<00:15:55.299> block<00:15:55.509> one<00:15:55.660> and<00:15:55.839> two<00:15:55.929> he<00:15:56.439> must 00:15:56.609 --> 00:15:56.619 align:start position:0% the inclusion block one and two he must 00:15:56.619 --> 00:15:58.139 align:start position:0% the inclusion block one and two he must also<00:15:56.769> verify<00:15:57.160> the<00:15:57.220> non-inclusion 00:15:58.139 --> 00:15:58.149 align:start position:0% also verify the non-inclusion 00:15:58.149 --> 00:16:00.329 align:start position:0% also verify the non-inclusion in<00:15:58.389> block<00:15:58.689> three<00:15:58.899> which<00:15:59.139> is<00:15:59.259> why<00:15:59.410> I<00:15:59.439> was<00:16:00.129> I 00:16:00.329 --> 00:16:00.339 align:start position:0% in block three which is why I was I 00:16:00.339 --> 00:16:01.859 align:start position:0% in block three which is why I was I spoke<00:16:00.609> before<00:16:00.729> about<00:16:01.089> the<00:16:01.479> non-inclusion 00:16:01.859 --> 00:16:01.869 align:start position:0% spoke before about the non-inclusion 00:16:01.869 --> 00:16:04.229 align:start position:0% spoke before about the non-inclusion proofs<00:16:02.199> in<00:16:02.350> sparse<00:16:02.619> milking<00:16:02.919> trees<00:16:03.100> and<00:16:03.429> he 00:16:04.229 --> 00:16:04.239 align:start position:0% proofs in sparse milking trees and he 00:16:04.239 --> 00:16:06.059 align:start position:0% proofs in sparse milking trees and he needs<00:16:04.389> to<00:16:04.479> do<00:16:04.600> that<00:16:04.660> because<00:16:04.929> considering<00:16:05.919> the 00:16:06.059 --> 00:16:06.069 align:start position:0% needs to do that because considering the 00:16:06.069 --> 00:16:07.229 align:start position:0% needs to do that because considering the fact<00:16:06.279> that<00:16:06.369> there<00:16:06.729> might<00:16:06.910> have<00:16:06.939> been<00:16:07.119> a 00:16:07.229 --> 00:16:07.239 align:start position:0% fact that there might have been a 00:16:07.239 --> 00:16:09.179 align:start position:0% fact that there might have been a transfer<00:16:07.660> from<00:16:07.809> two<00:16:08.049> to<00:16:08.199> three<00:16:08.229> the<00:16:08.919> two<00:16:09.069> to 00:16:09.179 --> 00:16:09.189 align:start position:0% transfer from two to three the two to 00:16:09.189 --> 00:16:10.919 align:start position:0% transfer from two to three the two to three<00:16:09.369> would<00:16:09.609> make<00:16:09.789> the<00:16:09.939> to<00:16:10.059> two<00:16:10.179> for<00:16:10.359> a<00:16:10.509> double 00:16:10.919 --> 00:16:10.929 align:start position:0% three would make the to two for a double 00:16:10.929 --> 00:16:14.189 align:start position:0% three would make the to two for a double spend<00:16:11.169> and<00:16:11.350> we<00:16:11.979> don't<00:16:12.160> own<00:16:12.309> double<00:16:12.579> spins<00:16:13.199> so 00:16:14.189 --> 00:16:14.199 align:start position:0% spend and we don't own double spins so 00:16:14.199 --> 00:16:17.029 align:start position:0% spend and we don't own double spins so yeah<00:16:14.799> and<00:16:15.039> she<00:16:15.279> does<00:16:15.459> that<00:16:15.489> and<00:16:15.819> she<00:16:16.089> exits<00:16:16.539> by 00:16:17.029 --> 00:16:17.039 align:start position:0% yeah and she does that and she exits by 00:16:17.039 --> 00:16:21.059 align:start position:0% yeah and she does that and she exits by by<00:16:18.119> providing<00:16:19.119> an<00:16:19.299> ancestor<00:16:19.769> there<00:16:20.769> has<00:16:20.949> been 00:16:21.059 --> 00:16:21.069 align:start position:0% by providing an ancestor there has been 00:16:21.069 --> 00:16:22.799 align:start position:0% by providing an ancestor there has been some<00:16:21.459> discussion<00:16:21.609> lately<00:16:22.119> that<00:16:22.449> there<00:16:22.660> might 00:16:22.799 --> 00:16:22.809 align:start position:0% some discussion lately that there might 00:16:22.809 --> 00:16:24.299 align:start position:0% some discussion lately that there might be<00:16:22.839> a<00:16:22.989> way<00:16:23.169> to<00:16:23.199> optimize<00:16:23.649> this<00:16:23.799> to<00:16:23.949> not<00:16:24.069> require 00:16:24.299 --> 00:16:24.309 align:start position:0% be a way to optimize this to not require 00:16:24.309 --> 00:16:25.799 align:start position:0% be a way to optimize this to not require an<00:16:24.459> ancestor<00:16:24.879> but<00:16:24.999> I'm<00:16:25.119> not<00:16:25.269> sure<00:16:25.449> about<00:16:25.479> the 00:16:25.799 --> 00:16:25.809 align:start position:0% an ancestor but I'm not sure about the 00:16:25.809 --> 00:16:28.109 align:start position:0% an ancestor but I'm not sure about the safety<00:16:26.019> of<00:16:26.229> it<00:16:26.350> if<00:16:27.009> you<00:16:27.399> want<00:16:27.489> to<00:16:27.609> evaluate<00:16:27.819> it 00:16:28.109 --> 00:16:28.119 align:start position:0% safety of it if you want to evaluate it 00:16:28.119 --> 00:16:29.999 align:start position:0% safety of it if you want to evaluate it fine<00:16:28.329> but<00:16:29.079> I<00:16:29.109> haven't<00:16:29.319> been<00:16:29.470> able<00:16:29.649> to<00:16:29.829> evaluate 00:16:29.999 --> 00:16:30.009 align:start position:0% fine but I haven't been able to evaluate 00:16:30.009 --> 00:16:31.409 align:start position:0% fine but I haven't been able to evaluate it<00:16:30.309> but<00:16:30.429> basically<00:16:30.549> the<00:16:30.879> thing<00:16:31.029> that<00:16:31.179> we<00:16:31.269> know 00:16:31.409 --> 00:16:31.419 align:start position:0% it but basically the thing that we know 00:16:31.419 --> 00:16:32.969 align:start position:0% it but basically the thing that we know that<00:16:31.600> works<00:16:31.809> parent<00:16:32.109> rates<00:16:32.259> you<00:16:32.499> give<00:16:32.679> it<00:16:32.829> a 00:16:32.969 --> 00:16:32.979 align:start position:0% that works parent rates you give it a 00:16:32.979 --> 00:16:34.889 align:start position:0% that works parent rates you give it a coin<00:16:33.220> in<00:16:33.459> the<00:16:33.609> parent<00:16:33.939> coin<00:16:34.119> and<00:16:34.389> you<00:16:34.749> use 00:16:34.889 --> 00:16:34.899 align:start position:0% coin in the parent coin and you use 00:16:34.899 --> 00:16:36.869 align:start position:0% coin in the parent coin and you use these<00:16:35.079> to<00:16:35.199> exit<00:16:35.529> and<00:16:35.739> I<00:16:36.249> will<00:16:36.399> go<00:16:36.519> over<00:16:36.730> the 00:16:36.869 --> 00:16:36.879 align:start position:0% these to exit and I will go over the 00:16:36.879 --> 00:16:39.059 align:start position:0% these to exit and I will go over the exit<00:16:37.509> game<00:16:37.689> play<00:16:37.899> the<00:16:38.139> game<00:16:38.259> let's<00:16:38.799> play<00:16:38.889> it 00:16:39.059 --> 00:16:39.069 align:start position:0% exit game play the game let's play it 00:16:39.069 --> 00:16:42.509 align:start position:0% exit game play the game let's play it like<00:16:39.279> very<00:16:39.519> soon<00:16:40.259> so<00:16:41.259> the<00:16:41.980> whole<00:16:42.129> plasma 00:16:42.509 --> 00:16:42.519 align:start position:0% like very soon so the whole plasma 00:16:42.519 --> 00:16:43.919 align:start position:0% like very soon so the whole plasma constructions<00:16:43.089> they<00:16:43.239> work<00:16:43.419> based<00:16:43.660> on<00:16:43.779> a 00:16:43.919 --> 00:16:43.929 align:start position:0% constructions they work based on a 00:16:43.929 --> 00:16:45.509 align:start position:0% constructions they work based on a challenge<00:16:44.289> period<00:16:44.769> like<00:16:44.980> the<00:16:45.039> classic 00:16:45.509 --> 00:16:45.519 align:start position:0% challenge period like the classic 00:16:45.519 --> 00:16:46.979 align:start position:0% challenge period like the classic dispute<00:16:45.910> period<00:16:46.179> where<00:16:46.299> I<00:16:46.329> make<00:16:46.660> a<00:16:46.689> claim<00:16:46.959> I 00:16:46.979 --> 00:16:46.989 align:start position:0% dispute period where I make a claim I 00:16:46.989 --> 00:16:49.289 align:start position:0% dispute period where I make a claim I put<00:16:47.350> up<00:16:47.470> a<00:16:47.559> bond<00:16:47.769> I<00:16:48.039> wait<00:16:48.519> some<00:16:48.699> amount<00:16:48.970> of<00:16:49.089> time 00:16:49.289 --> 00:16:49.299 align:start position:0% put up a bond I wait some amount of time 00:16:49.299 --> 00:16:51.779 align:start position:0% put up a bond I wait some amount of time and<00:16:49.539> if<00:16:49.720> nobody<00:16:50.169> challenges<00:16:50.619> yeah<00:16:50.859> my<00:16:51.459> my 00:16:51.779 --> 00:16:51.789 align:start position:0% and if nobody challenges yeah my my 00:16:51.789 --> 00:16:53.999 align:start position:0% and if nobody challenges yeah my my claim<00:16:51.999> must<00:16:52.179> probably<00:16:52.449> be<00:16:52.839> right<00:16:53.049> right<00:16:53.289> it's 00:16:53.999 --> 00:16:54.009 align:start position:0% claim must probably be right right it's 00:16:54.009 --> 00:16:55.679 align:start position:0% claim must probably be right right it's all<00:16:54.129> like<00:16:54.339> crypto<00:16:54.819> economics<00:16:55.299> I<00:16:55.359> hate<00:16:55.539> that 00:16:55.679 --> 00:16:55.689 align:start position:0% all like crypto economics I hate that 00:16:55.689 --> 00:16:55.949 align:start position:0% all like crypto economics I hate that word 00:16:55.949 --> 00:16:55.959 align:start position:0% word 00:16:55.959 --> 00:17:00.210 align:start position:0% word so<00:16:57.269> the<00:16:58.269> time<00:16:59.199> currently<00:16:59.679> and<00:16:59.829> they<00:16:59.949> bond 00:17:00.210 --> 00:17:00.220 align:start position:0% so the time currently and they bond 00:17:00.220 --> 00:17:01.590 align:start position:0% so the time currently and they bond amounts<00:17:00.639> are<00:17:00.759> totally<00:17:01.089> arbitrary 00:17:01.590 --> 00:17:01.600 align:start position:0% amounts are totally arbitrary 00:17:01.600 --> 00:17:03.179 align:start position:0% amounts are totally arbitrary I'm<00:17:01.809> not<00:17:02.139> the<00:17:02.259> opinion<00:17:02.559> that<00:17:02.589> somebody<00:17:02.980> just 00:17:03.179 --> 00:17:03.189 align:start position:0% I'm not the opinion that somebody just 00:17:03.189 --> 00:17:05.129 align:start position:0% I'm not the opinion that somebody just wrote<00:17:03.549> the<00:17:03.730> first<00:17:03.910> MVP<00:17:04.329> implementation<00:17:04.959> maybe 00:17:05.129 --> 00:17:05.139 align:start position:0% wrote the first MVP implementation maybe 00:17:05.139 --> 00:17:07.860 align:start position:0% wrote the first MVP implementation maybe it<00:17:05.260> was<00:17:05.379> David<00:17:05.649> actually<00:17:05.799> like<00:17:06.579> it<00:17:07.120> just<00:17:07.480> put 00:17:07.860 --> 00:17:07.870 align:start position:0% it was David actually like it just put 00:17:07.870 --> 00:17:09.689 align:start position:0% it was David actually like it just put like<00:17:08.110> seven<00:17:08.559> days<00:17:08.709> for<00:17:08.949> an<00:17:09.039> exit<00:17:09.250> period<00:17:09.519> and 00:17:09.689 --> 00:17:09.699 align:start position:0% like seven days for an exit period and 00:17:09.699 --> 00:17:11.639 align:start position:0% like seven days for an exit period and everybody<00:17:10.149> said<00:17:10.360> that's<00:17:10.929> it<00:17:11.079> the<00:17:11.230> Holy<00:17:11.409> Grail 00:17:11.639 --> 00:17:11.649 align:start position:0% everybody said that's it the Holy Grail 00:17:11.649 --> 00:17:14.009 align:start position:0% everybody said that's it the Holy Grail or<00:17:11.829> baby<00:17:12.039> vitalik<00:17:12.519> say<00:17:12.639> I<00:17:12.789> don't<00:17:12.879> know<00:17:13.089> but<00:17:13.839> the 00:17:14.009 --> 00:17:14.019 align:start position:0% or baby vitalik say I don't know but the 00:17:14.019 --> 00:17:15.269 align:start position:0% or baby vitalik say I don't know but the point<00:17:14.230> is<00:17:14.379> that<00:17:14.500> currently<00:17:14.860> there<00:17:15.039> has<00:17:15.129> been 00:17:15.269 --> 00:17:15.279 align:start position:0% point is that currently there has been 00:17:15.279 --> 00:17:17.100 align:start position:0% point is that currently there has been no<00:17:15.429> game<00:17:15.639> theoretic<00:17:15.850> like<00:17:16.240> proper<00:17:16.539> analysis 00:17:17.100 --> 00:17:17.110 align:start position:0% no game theoretic like proper analysis 00:17:17.110 --> 00:17:19.110 align:start position:0% no game theoretic like proper analysis unlike<00:17:17.589> what<00:17:17.799> the<00:17:17.980> deposit<00:17:18.429> what<00:17:18.970> the 00:17:19.110 --> 00:17:19.120 align:start position:0% unlike what the deposit what the 00:17:19.120 --> 00:17:20.939 align:start position:0% unlike what the deposit what the challenge<00:17:19.839> periods<00:17:20.169> should<00:17:20.230> be<00:17:20.470> and<00:17:20.679> what<00:17:20.799> the 00:17:20.939 --> 00:17:20.949 align:start position:0% challenge periods should be and what the 00:17:20.949 --> 00:17:22.829 align:start position:0% challenge periods should be and what the bond<00:17:21.159> amount<00:17:21.309> should<00:17:21.699> be<00:17:21.760> and<00:17:22.120> I'm<00:17:22.689> very 00:17:22.829 --> 00:17:22.839 align:start position:0% bond amount should be and I'm very 00:17:22.839 --> 00:17:24.269 align:start position:0% bond amount should be and I'm very interesting<00:17:23.260> to<00:17:23.409> that<00:17:23.559> so<00:17:23.709> if<00:17:23.829> you<00:17:23.980> have<00:17:24.129> any 00:17:24.269 --> 00:17:24.279 align:start position:0% interesting to that so if you have any 00:17:24.279 --> 00:17:27.569 align:start position:0% interesting to that so if you have any return<00:17:24.699> please<00:17:25.000> speak<00:17:25.449> to<00:17:25.480> me<00:17:25.689> and<00:17:26.220> yeah<00:17:27.220> so 00:17:27.569 --> 00:17:27.579 align:start position:0% return please speak to me and yeah so 00:17:27.579 --> 00:17:29.190 align:start position:0% return please speak to me and yeah so this<00:17:27.760> is<00:17:27.819> like<00:17:28.000> a<00:17:28.240> good<00:17:28.510> takeaway<00:17:28.929> from<00:17:28.990> the 00:17:29.190 --> 00:17:29.200 align:start position:0% this is like a good takeaway from the 00:17:29.200 --> 00:17:32.700 align:start position:0% this is like a good takeaway from the presentation<00:17:29.769> that<00:17:30.419> we<00:17:31.419> model<00:17:31.809> each<00:17:31.990> coin<00:17:32.320> has 00:17:32.700 --> 00:17:32.710 align:start position:0% presentation that we model each coin has 00:17:32.710 --> 00:17:35.129 align:start position:0% presentation that we model each coin has its<00:17:32.860> own<00:17:33.010> state<00:17:33.250> machine<00:17:33.580> so<00:17:33.809> state<00:17:34.809> machines 00:17:35.129 --> 00:17:35.139 align:start position:0% its own state machine so state machines 00:17:35.139 --> 00:17:37.440 align:start position:0% its own state machine so state machines like<00:17:35.260> it's<00:17:35.470> yeah<00:17:36.279> we<00:17:36.549> have<00:17:36.850> the<00:17:37.149> initial 00:17:37.440 --> 00:17:37.450 align:start position:0% like it's yeah we have the initial 00:17:37.450 --> 00:17:39.419 align:start position:0% like it's yeah we have the initial deposited<00:17:37.929> state<00:17:38.169> and<00:17:38.409> basically<00:17:39.010> you<00:17:39.190> define 00:17:39.419 --> 00:17:39.429 align:start position:0% deposited state and basically you define 00:17:39.429 --> 00:17:40.889 align:start position:0% deposited state and basically you define the<00:17:39.549> transition<00:17:40.000> function<00:17:40.149> that<00:17:40.539> whenever 00:17:40.889 --> 00:17:40.899 align:start position:0% the transition function that whenever 00:17:40.899 --> 00:17:42.029 align:start position:0% the transition function that whenever you<00:17:41.110> want<00:17:41.260> to<00:17:41.320> go<00:17:41.440> from<00:17:41.559> one<00:17:41.740> state<00:17:41.830> to<00:17:41.950> another 00:17:42.029 --> 00:17:42.039 align:start position:0% you want to go from one state to another 00:17:42.039 --> 00:17:44.519 align:start position:0% you want to go from one state to another some<00:17:42.610> certain<00:17:43.120> things<00:17:43.269> need<00:17:43.450> to<00:17:43.510> happen<00:17:43.600> and 00:17:44.519 --> 00:17:44.529 align:start position:0% some certain things need to happen and 00:17:44.529 --> 00:17:45.750 align:start position:0% some certain things need to happen and what<00:17:44.710> you<00:17:44.830> do<00:17:44.950> it's<00:17:45.279> simple 00:17:45.750 --> 00:17:45.760 align:start position:0% what you do it's simple 00:17:45.760 --> 00:17:47.520 align:start position:0% what you do it's simple whenever<00:17:46.480> you<00:17:46.600> want<00:17:46.750> to<00:17:46.809> go<00:17:46.900> from<00:17:47.020> deposited 00:17:47.520 --> 00:17:47.530 align:start position:0% whenever you want to go from deposited 00:17:47.530 --> 00:17:49.350 align:start position:0% whenever you want to go from deposited to<00:17:47.620> exiting<00:17:47.980> you<00:17:48.309> start<00:17:48.580> an<00:17:48.700> exit<00:17:49.000> and<00:17:49.120> you<00:17:49.210> put 00:17:49.350 --> 00:17:49.360 align:start position:0% to exiting you start an exit and you put 00:17:49.360 --> 00:17:51.060 align:start position:0% to exiting you start an exit and you put up<00:17:49.480> a<00:17:49.570> bond<00:17:49.750> let's<00:17:50.290> start<00:17:50.470> exit<00:17:50.770> you<00:17:50.890> put 00:17:51.060 --> 00:17:51.070 align:start position:0% up a bond let's start exit you put 00:17:51.070 --> 00:17:52.919 align:start position:0% up a bond let's start exit you put whatever<00:17:51.250> proofs<00:17:51.640> you<00:17:51.760> like<00:17:51.910> it<00:17:52.120> doesn't 00:17:52.919 --> 00:17:52.929 align:start position:0% whatever proofs you like it doesn't 00:17:52.929 --> 00:17:54.299 align:start position:0% whatever proofs you like it doesn't matter<00:17:53.049> and<00:17:53.410> there<00:17:53.799> are<00:17:53.860> two<00:17:53.980> types<00:17:54.010> of 00:17:54.299 --> 00:17:54.309 align:start position:0% matter and there are two types of 00:17:54.309 --> 00:17:56.940 align:start position:0% matter and there are two types of challenges<00:17:54.900> the<00:17:55.900> one<00:17:56.080> type<00:17:56.230> of<00:17:56.350> challenge<00:17:56.770> is 00:17:56.940 --> 00:17:56.950 align:start position:0% challenges the one type of challenge is 00:17:56.950 --> 00:17:58.560 align:start position:0% challenges the one type of challenge is the<00:17:57.250> interactive<00:17:57.700> one<00:17:57.850> and<00:17:58.030> the<00:17:58.210> other<00:17:58.360> is<00:17:58.450> the 00:17:58.560 --> 00:17:58.570 align:start position:0% the interactive one and the other is the 00:17:58.570 --> 00:17:59.940 align:start position:0% the interactive one and the other is the non<00:17:58.690> interactive<00:17:59.200> so<00:17:59.290> speak<00:17:59.530> about<00:17:59.679> the<00:17:59.799> non 00:17:59.940 --> 00:17:59.950 align:start position:0% non interactive so speak about the non 00:17:59.950 --> 00:18:01.830 align:start position:0% non interactive so speak about the non interactive<00:18:00.370> which<00:18:00.490> is<00:18:00.610> simpler<00:18:00.970> so<00:18:01.540> the<00:18:01.690> non 00:18:01.830 --> 00:18:01.840 align:start position:0% interactive which is simpler so the non 00:18:01.840 --> 00:18:04.230 align:start position:0% interactive which is simpler so the non interactive<00:18:02.470> challenge<00:18:02.740> it<00:18:03.160> is<00:18:03.370> essentially 00:18:04.230 --> 00:18:04.240 align:start position:0% interactive challenge it is essentially 00:18:04.240 --> 00:18:05.940 align:start position:0% interactive challenge it is essentially I<00:18:04.270> see<00:18:04.630> a<00:18:04.660> claim<00:18:04.870> and<00:18:05.080> I<00:18:05.230> instantly<00:18:05.440> challenge 00:18:05.940 --> 00:18:05.950 align:start position:0% I see a claim and I instantly challenge 00:18:05.950 --> 00:18:08.400 align:start position:0% I see a claim and I instantly challenge it<00:18:06.070> and<00:18:06.160> the<00:18:06.669> exit<00:18:07.059> goes<00:18:07.210> home<00:18:07.450> like<00:18:07.809> it<00:18:08.049> like 00:18:08.400 --> 00:18:08.410 align:start position:0% it and the exit goes home like it like 00:18:08.410 --> 00:18:10.980 align:start position:0% it and the exit goes home like it like it<00:18:08.530> never<00:18:08.620> happened<00:18:08.740> right<00:18:09.190> and<00:18:09.870> it's<00:18:10.870> a 00:18:10.980 --> 00:18:10.990 align:start position:0% it never happened right and it's a 00:18:10.990 --> 00:18:12.810 align:start position:0% it never happened right and it's a simple<00:18:11.230> form<00:18:11.559> of<00:18:11.679> challenges<00:18:12.190> however<00:18:12.400> they 00:18:12.810 --> 00:18:12.820 align:start position:0% simple form of challenges however they 00:18:12.820 --> 00:18:14.820 align:start position:0% simple form of challenges however they interact<00:18:13.390> the<00:18:13.480> challenge<00:18:13.840> is<00:18:13.960> essentially<00:18:14.590> in 00:18:14.820 --> 00:18:14.830 align:start position:0% interact the challenge is essentially in 00:18:14.830 --> 00:18:16.680 align:start position:0% interact the challenge is essentially in order<00:18:15.040> to<00:18:15.220> finalize<00:18:15.640> an<00:18:15.820> exit<00:18:16.090> it<00:18:16.330> must<00:18:16.570> not 00:18:16.680 --> 00:18:16.690 align:start position:0% order to finalize an exit it must not 00:18:16.690 --> 00:18:18.690 align:start position:0% order to finalize an exit it must not have<00:18:16.870> any<00:18:17.049> pending<00:18:17.650> challenges<00:18:18.309> in<00:18:18.460> any 00:18:18.690 --> 00:18:18.700 align:start position:0% have any pending challenges in any 00:18:18.700 --> 00:18:20.730 align:start position:0% have any pending challenges in any outstanding<00:18:19.000> challenges<00:18:19.660> so<00:18:20.169> what<00:18:20.320> you<00:18:20.410> do<00:18:20.559> is 00:18:20.730 --> 00:18:20.740 align:start position:0% outstanding challenges so what you do is 00:18:20.740 --> 00:18:22.710 align:start position:0% outstanding challenges so what you do is I<00:18:20.860> start<00:18:20.980> at<00:18:21.280> exit<00:18:21.549> somebody<00:18:21.880> else<00:18:22.030> challenges 00:18:22.710 --> 00:18:22.720 align:start position:0% I start at exit somebody else challenges 00:18:22.720 --> 00:18:25.140 align:start position:0% I start at exit somebody else challenges my<00:18:22.840> exit<00:18:23.230> and<00:18:23.380> in<00:18:24.100> order<00:18:24.340> for<00:18:24.669> me<00:18:24.760> to<00:18:24.790> be<00:18:25.059> able 00:18:25.140 --> 00:18:25.150 align:start position:0% my exit and in order for me to be able 00:18:25.150 --> 00:18:27.390 align:start position:0% my exit and in order for me to be able to<00:18:25.299> finalize<00:18:25.840> my<00:18:25.990> exit<00:18:26.290> the<00:18:26.830> word<00:18:26.980> exit<00:18:27.280> has 00:18:27.390 --> 00:18:27.400 align:start position:0% to finalize my exit the word exit has 00:18:27.400 --> 00:18:28.830 align:start position:0% to finalize my exit the word exit has been<00:18:27.580> sent<00:18:27.820> many<00:18:28.030> times<00:18:28.240> you<00:18:28.630> need<00:18:28.780> to 00:18:28.830 --> 00:18:28.840 align:start position:0% been sent many times you need to 00:18:28.840 --> 00:18:30.780 align:start position:0% been sent many times you need to actually<00:18:28.960> respond<00:18:29.590> to<00:18:29.710> the<00:18:29.950> exit<00:18:30.280> and<00:18:30.400> like 00:18:30.780 --> 00:18:30.790 align:start position:0% actually respond to the exit and like 00:18:30.790 --> 00:18:32.070 align:start position:0% actually respond to the exit and like you<00:18:30.910> have<00:18:31.059> let's<00:18:31.270> say<00:18:31.360> you<00:18:31.390> have<00:18:31.600> a<00:18:31.630> counter<00:18:32.049> a 00:18:32.070 --> 00:18:32.080 align:start position:0% you have let's say you have a counter a 00:18:32.080 --> 00:18:33.690 align:start position:0% you have let's say you have a counter a challenge<00:18:32.650> counter<00:18:33.010> that<00:18:33.160> goes<00:18:33.340> up<00:18:33.520> and<00:18:33.669> down 00:18:33.690 --> 00:18:33.700 align:start position:0% challenge counter that goes up and down 00:18:33.700 --> 00:18:35.460 align:start position:0% challenge counter that goes up and down and<00:18:34.059> all<00:18:34.360> the<00:18:34.480> way<00:18:34.600> to<00:18:34.660> finalize<00:18:35.140> it's<00:18:35.290> when 00:18:35.460 --> 00:18:35.470 align:start position:0% and all the way to finalize it's when 00:18:35.470 --> 00:18:36.780 align:start position:0% and all the way to finalize it's when it's<00:18:35.620> at<00:18:35.799> zero 00:18:36.780 --> 00:18:36.790 align:start position:0% it's at zero 00:18:36.790 --> 00:18:38.909 align:start position:0% it's at zero I<00:18:36.820> hope<00:18:37.419> this<00:18:37.630> slide<00:18:38.049> is<00:18:38.200> clear<00:18:38.410> because<00:18:38.500> it's 00:18:38.909 --> 00:18:38.919 align:start position:0% I hope this slide is clear because it's 00:18:38.919 --> 00:18:40.190 align:start position:0% I hope this slide is clear because it's like<00:18:39.100> more<00:18:39.309> or<00:18:39.400> less<00:18:39.520> the<00:18:39.640> whole<00:18:39.790> like 00:18:40.190 --> 00:18:40.200 align:start position:0% like more or less the whole like 00:18:40.200 --> 00:18:43.110 align:start position:0% like more or less the whole like construction<00:18:41.200> of<00:18:41.290> how<00:18:41.410> it<00:18:41.470> works<00:18:41.679> and<00:18:42.520> now 00:18:43.110 --> 00:18:43.120 align:start position:0% construction of how it works and now 00:18:43.120 --> 00:18:46.560 align:start position:0% construction of how it works and now I'll<00:18:43.270> talk<00:18:43.419> about<00:18:43.480> the<00:18:43.809> challenges<00:18:44.520> so<00:18:45.570> I'm 00:18:46.560 --> 00:18:46.570 align:start position:0% I'll talk about the challenges so I'm 00:18:46.570 --> 00:18:48.360 align:start position:0% I'll talk about the challenges so I'm hoping<00:18:46.960> things<00:18:47.290> are<00:18:47.470> clear<00:18:47.710> so<00:18:47.890> far<00:18:47.919> because 00:18:48.360 --> 00:18:48.370 align:start position:0% hoping things are clear so far because 00:18:48.370 --> 00:18:51.900 align:start position:0% hoping things are clear so far because like<00:18:48.520> this<00:18:48.790> where<00:18:49.059> we<00:18:49.320> examples<00:18:50.790> let's<00:18:51.790> say 00:18:51.900 --> 00:18:51.910 align:start position:0% like this where we examples let's say 00:18:51.910 --> 00:18:53.640 align:start position:0% like this where we examples let's say that<00:18:52.030> Alice<00:18:52.390> has<00:18:52.600> a<00:18:52.630> coin<00:18:52.840> eight<00:18:53.020> block<00:18:53.290> and 00:18:53.640 --> 00:18:53.650 align:start position:0% that Alice has a coin eight block and 00:18:53.650 --> 00:18:56.610 align:start position:0% that Alice has a coin eight block and whatever<00:18:54.190> you<00:18:54.370> like<00:18:54.520> and<00:18:54.990> Alice<00:18:55.990> spends<00:18:56.500> the 00:18:56.610 --> 00:18:56.620 align:start position:0% whatever you like and Alice spends the 00:18:56.620 --> 00:18:58.350 align:start position:0% whatever you like and Alice spends the coins<00:18:56.919> you<00:18:57.010> give<00:18:57.280> it<00:18:57.460> Bob<00:18:57.730> or<00:18:57.940> whoever<00:18:58.299> else 00:18:58.350 --> 00:18:58.360 align:start position:0% coins you give it Bob or whoever else 00:18:58.360 --> 00:19:01.169 align:start position:0% coins you give it Bob or whoever else and<00:18:58.780> Bob<00:18:59.380> maybe<00:18:59.620> then<00:18:59.860> gives<00:19:00.100> it<00:19:00.190> Charlie<00:19:00.610> so 00:19:01.169 --> 00:19:01.179 align:start position:0% and Bob maybe then gives it Charlie so 00:19:01.179 --> 00:19:03.270 align:start position:0% and Bob maybe then gives it Charlie so the<00:19:01.419> thing<00:19:01.540> is<00:19:01.570> that<00:19:01.720> Alice<00:19:02.290> isn't<00:19:02.559> forced<00:19:03.130> to 00:19:03.270 --> 00:19:03.280 align:start position:0% the thing is that Alice isn't forced to 00:19:03.280 --> 00:19:04.830 align:start position:0% the thing is that Alice isn't forced to exit<00:19:03.549> from<00:19:03.640> a<00:19:03.790> later<00:19:04.000> stage<00:19:04.299> you<00:19:04.450> can<00:19:04.570> always 00:19:04.830 --> 00:19:04.840 align:start position:0% exit from a later stage you can always 00:19:04.840 --> 00:19:07.230 align:start position:0% exit from a later stage you can always go<00:19:04.960> to<00:19:05.020> a<00:19:05.140> stale<00:19:05.380> scene<00:19:05.620> just<00:19:05.950> say<00:19:06.130> I'll<00:19:06.850> exit 00:19:07.230 --> 00:19:07.240 align:start position:0% go to a stale scene just say I'll exit 00:19:07.240 --> 00:19:09.690 align:start position:0% go to a stale scene just say I'll exit so<00:19:07.900> yeah<00:19:08.470> she<00:19:08.679> can<00:19:08.799> do<00:19:08.919> that<00:19:09.100> but<00:19:09.280> the<00:19:09.429> thing<00:19:09.549> is 00:19:09.690 --> 00:19:09.700 align:start position:0% so yeah she can do that but the thing is 00:19:09.700 --> 00:19:11.250 align:start position:0% so yeah she can do that but the thing is that<00:19:09.850> she<00:19:10.030> needs<00:19:10.330> to<00:19:10.419> wait<00:19:10.600> seven<00:19:10.900> days<00:19:10.929> or 00:19:11.250 --> 00:19:11.260 align:start position:0% that she needs to wait seven days or 00:19:11.260 --> 00:19:13.409 align:start position:0% that she needs to wait seven days or whatever<00:19:11.650> to<00:19:12.190> do<00:19:12.340> the<00:19:12.490> exit<00:19:12.760> and<00:19:12.970> at<00:19:13.240> that 00:19:13.409 --> 00:19:13.419 align:start position:0% whatever to do the exit and at that 00:19:13.419 --> 00:19:15.990 align:start position:0% whatever to do the exit and at that point<00:19:13.740> another<00:19:14.740> entity<00:19:15.100> they<00:19:15.460> can<00:19:15.640> challenge 00:19:15.990 --> 00:19:16.000 align:start position:0% point another entity they can challenge 00:19:16.000 --> 00:19:18.150 align:start position:0% point another entity they can challenge by<00:19:16.120> providing<00:19:16.510> a<00:19:16.720> spend<00:19:17.020> so<00:19:17.470> Alice<00:19:17.770> a<00:19:17.799> signal 00:19:18.150 --> 00:19:18.160 align:start position:0% by providing a spend so Alice a signal 00:19:18.160 --> 00:19:19.590 align:start position:0% by providing a spend so Alice a signal makes<00:19:18.309> the<00:19:18.400> claim<00:19:18.610> I<00:19:18.730> am<00:19:18.940> the<00:19:19.059> latest<00:19:19.299> owner<00:19:19.540> of 00:19:19.590 --> 00:19:19.600 align:start position:0% makes the claim I am the latest owner of 00:19:19.600 --> 00:19:22.020 align:start position:0% makes the claim I am the latest owner of the<00:19:19.690> coin<00:19:19.840> and<00:19:20.080> the<00:19:20.500> other<00:19:20.620> very<00:19:21.220> MN<00:19:21.640> and<00:19:21.850> then 00:19:22.020 --> 00:19:22.030 align:start position:0% the coin and the other very MN and then 00:19:22.030 --> 00:19:23.580 align:start position:0% the coin and the other very MN and then a<00:19:22.059> challenger<00:19:22.510> comes<00:19:22.660> and<00:19:22.900> says<00:19:23.049> no<00:19:23.440> you're 00:19:23.580 --> 00:19:23.590 align:start position:0% a challenger comes and says no you're 00:19:23.590 --> 00:19:23.970 align:start position:0% a challenger comes and says no you're not 00:19:23.970 --> 00:19:23.980 align:start position:0% not 00:19:23.980 --> 00:19:25.380 align:start position:0% not basically<00:19:24.429> if<00:19:24.580> that's<00:19:24.730> the<00:19:24.850> whole<00:19:25.000> thing<00:19:25.210> that 00:19:25.380 --> 00:19:25.390 align:start position:0% basically if that's the whole thing that 00:19:25.390 --> 00:19:26.880 align:start position:0% basically if that's the whole thing that you<00:19:25.450> need<00:19:25.600> to<00:19:25.660> know<00:19:25.780> about<00:19:25.870> it<00:19:26.080> and<00:19:26.350> this<00:19:26.830> is 00:19:26.880 --> 00:19:26.890 align:start position:0% you need to know about it and this is 00:19:26.890 --> 00:19:28.289 align:start position:0% you need to know about it and this is the<00:19:27.010> one<00:19:27.280> type<00:19:27.490> of<00:19:27.520> attack<00:19:27.850> that<00:19:28.000> you<00:19:28.059> can<00:19:28.179> do 00:19:28.289 --> 00:19:28.299 align:start position:0% the one type of attack that you can do 00:19:28.299 --> 00:19:30.240 align:start position:0% the one type of attack that you can do and<00:19:28.540> this<00:19:28.840> shadow<00:19:29.230> to<00:19:29.380> Carl<00:19:29.679> because<00:19:29.980> he<00:19:30.130> did 00:19:30.240 --> 00:19:30.250 align:start position:0% and this shadow to Carl because he did 00:19:30.250 --> 00:19:31.710 align:start position:0% and this shadow to Carl because he did like<00:19:30.400> a<00:19:30.429> very<00:19:30.640> good<00:19:30.820> like<00:19:31.059> specification 00:19:31.710 --> 00:19:31.720 align:start position:0% like a very good like specification 00:19:31.720 --> 00:19:33.510 align:start position:0% like a very good like specification which<00:19:31.840> is<00:19:31.960> explained<00:19:32.380> all<00:19:32.530> that<00:19:32.679> stuff<00:19:32.890> I<00:19:33.130> used 00:19:33.510 --> 00:19:33.520 align:start position:0% which is explained all that stuff I used 00:19:33.520 --> 00:19:36.150 align:start position:0% which is explained all that stuff I used it<00:19:33.700> you<00:19:34.150> should<00:19:34.299> use<00:19:34.450> it<00:19:35.010> the<00:19:36.010> other 00:19:36.150 --> 00:19:36.160 align:start position:0% it you should use it the other 00:19:36.160 --> 00:19:37.380 align:start position:0% it you should use it the other alternative<00:19:36.760> is<00:19:36.790> that<00:19:36.940> you<00:19:37.059> do<00:19:37.210> a<00:19:37.240> double 00:19:37.380 --> 00:19:37.390 align:start position:0% alternative is that you do a double 00:19:37.390 --> 00:19:38.820 align:start position:0% alternative is that you do a double spend<00:19:37.750> so<00:19:37.929> the<00:19:38.049> example<00:19:38.380> I<00:19:38.440> was<00:19:38.530> talking<00:19:38.590> about 00:19:38.820 --> 00:19:38.830 align:start position:0% spend so the example I was talking about 00:19:38.830 --> 00:19:41.250 align:start position:0% spend so the example I was talking about before<00:19:39.100> I<00:19:39.520> was<00:19:40.270> considering<00:19:40.750> the<00:19:40.900> fact<00:19:41.080> that 00:19:41.250 --> 00:19:41.260 align:start position:0% before I was considering the fact that 00:19:41.260 --> 00:19:44.789 align:start position:0% before I was considering the fact that the<00:19:41.830> Charlie<00:19:42.370> Webb<00:19:42.520> or<00:19:43.240> Alice<00:19:43.630> prime<00:19:44.049> note 00:19:44.789 --> 00:19:44.799 align:start position:0% the Charlie Webb or Alice prime note 00:19:44.799 --> 00:19:48.210 align:start position:0% the Charlie Webb or Alice prime note plasma<00:19:45.070> prime<00:19:45.419> is<00:19:46.419> actually<00:19:46.750> like<00:19:47.380> it's<00:19:47.980> not<00:19:48.160> a 00:19:48.210 --> 00:19:48.220 align:start position:0% plasma prime is actually like it's not a 00:19:48.220 --> 00:19:49.890 align:start position:0% plasma prime is actually like it's not a colluding<00:19:48.700> party<00:19:49.000> so<00:19:49.240> what<00:19:49.419> can<00:19:49.540> happen<00:19:49.600> in 00:19:49.890 --> 00:19:49.900 align:start position:0% colluding party so what can happen in 00:19:49.900 --> 00:19:51.510 align:start position:0% colluding party so what can happen in this<00:19:50.020> case<00:19:50.200> that<00:19:50.410> Alice<00:19:50.799> gives<00:19:51.010> the<00:19:51.100> coins<00:19:51.280> Bob 00:19:51.510 --> 00:19:51.520 align:start position:0% this case that Alice gives the coins Bob 00:19:51.520 --> 00:19:53.730 align:start position:0% this case that Alice gives the coins Bob and<00:19:51.760> Alice<00:19:52.330> in<00:19:52.690> collusion<00:19:53.049> with<00:19:53.200> the<00:19:53.380> operator 00:19:53.730 --> 00:19:53.740 align:start position:0% and Alice in collusion with the operator 00:19:53.740 --> 00:19:55.530 align:start position:0% and Alice in collusion with the operator they<00:19:54.309> double<00:19:54.610> spending<00:19:54.909> so<00:19:55.150> they<00:19:55.270> give<00:19:55.419> it 00:19:55.530 --> 00:19:55.540 align:start position:0% they double spending so they give it 00:19:55.540 --> 00:19:57.509 align:start position:0% they double spending so they give it themselves<00:19:55.720> some<00:19:56.169> other<00:19:56.320> friend<00:19:56.620> of<00:19:56.799> them 00:19:57.509 --> 00:19:57.519 align:start position:0% themselves some other friend of them 00:19:57.519 --> 00:19:59.909 align:start position:0% themselves some other friend of them and<00:19:57.759> what<00:19:58.480> happens<00:19:58.809> in<00:19:58.929> this<00:19:59.049> case<00:19:59.259> if<00:19:59.499> Charlie 00:19:59.909 --> 00:19:59.919 align:start position:0% and what happens in this case if Charlie 00:19:59.919 --> 00:20:01.529 align:start position:0% and what happens in this case if Charlie wants<00:20:00.129> to<00:20:00.190> exit<00:20:00.490> the<00:20:00.580> coin<00:20:00.789> he<00:20:01.299> needs<00:20:01.480> to 00:20:01.529 --> 00:20:01.539 align:start position:0% wants to exit the coin he needs to 00:20:01.539 --> 00:20:03.210 align:start position:0% wants to exit the coin he needs to provide<00:20:01.779> the<00:20:01.929> parent<00:20:02.259> as<00:20:02.470> I<00:20:02.649> said<00:20:02.860> and<00:20:03.100> the 00:20:03.210 --> 00:20:03.220 align:start position:0% provide the parent as I said and the 00:20:03.220 --> 00:20:04.980 align:start position:0% provide the parent as I said and the whole<00:20:03.249> like<00:20:03.610> exit<00:20:04.210> game<00:20:04.360> here<00:20:04.629> that<00:20:04.659> words 00:20:04.980 --> 00:20:04.990 align:start position:0% whole like exit game here that words 00:20:04.990 --> 00:20:06.119 align:start position:0% whole like exit game here that words that<00:20:05.139> you<00:20:05.230> need<00:20:05.379> to<00:20:05.440> provide<00:20:05.590> the<00:20:05.769> coin<00:20:05.919> that 00:20:06.119 --> 00:20:06.129 align:start position:0% that you need to provide the coin that 00:20:06.129 --> 00:20:08.039 align:start position:0% that you need to provide the coin that is<00:20:06.220> in<00:20:06.399> between<00:20:06.639> and<00:20:07.059> this<00:20:07.570> actually<00:20:07.899> proves 00:20:08.039 --> 00:20:08.049 align:start position:0% is in between and this actually proves 00:20:08.049 --> 00:20:09.299 align:start position:0% is in between and this actually proves the<00:20:08.230> double<00:20:08.470> span<00:20:08.649> because<00:20:08.769> you<00:20:08.919> say<00:20:09.070> no<00:20:09.279> I 00:20:09.299 --> 00:20:09.309 align:start position:0% the double span because you say no I 00:20:09.309 --> 00:20:14.489 align:start position:0% the double span because you say no I owned<00:20:09.759> it<00:20:09.999> before<00:20:10.179> you<00:20:10.570> did<00:20:10.830> and<00:20:11.850> yeah<00:20:12.850> and<00:20:13.499> the 00:20:14.489 --> 00:20:14.499 align:start position:0% owned it before you did and yeah and the 00:20:14.499 --> 00:20:17.460 align:start position:0% owned it before you did and yeah and the final<00:20:14.830> example<00:20:15.159> of<00:20:15.659> like<00:20:16.659> the<00:20:16.840> ex<00:20:16.960> game<00:20:17.289> it's 00:20:17.460 --> 00:20:17.470 align:start position:0% final example of like the ex game it's 00:20:17.470 --> 00:20:19.070 align:start position:0% final example of like the ex game it's like<00:20:17.529> when<00:20:17.769> you're<00:20:17.889> exiting<00:20:18.129> a<00:20:18.309> coin<00:20:18.519> you 00:20:19.070 --> 00:20:19.080 align:start position:0% like when you're exiting a coin you 00:20:19.080 --> 00:20:21.509 align:start position:0% like when you're exiting a coin you actually<00:20:20.080> so<00:20:20.590> when<00:20:20.769> you're<00:20:20.889> receiving<00:20:21.129> going 00:20:21.509 --> 00:20:21.519 align:start position:0% actually so when you're receiving going 00:20:21.519 --> 00:20:22.919 align:start position:0% actually so when you're receiving going you<00:20:21.700> I<00:20:21.730> shall<00:20:22.029> validate<00:20:22.419> the<00:20:22.509> whole<00:20:22.659> time<00:20:22.840> in 00:20:22.919 --> 00:20:22.929 align:start position:0% you I shall validate the whole time in 00:20:22.929 --> 00:20:25.409 align:start position:0% you I shall validate the whole time in history<00:20:23.080> but<00:20:23.499> what<00:20:23.710> if<00:20:23.830> you<00:20:23.980> don't<00:20:24.129> so<00:20:24.999> I<00:20:25.029> want 00:20:25.409 --> 00:20:25.419 align:start position:0% history but what if you don't so I want 00:20:25.419 --> 00:20:27.419 align:start position:0% history but what if you don't so I want to<00:20:25.480> say<00:20:25.629> in<00:20:25.899> this<00:20:25.990> example<00:20:26.470> like<00:20:26.649> to<00:20:26.980> try<00:20:27.370> to 00:20:27.419 --> 00:20:27.429 align:start position:0% to say in this example like to try to 00:20:27.429 --> 00:20:30.509 align:start position:0% to say in this example like to try to imagine<00:20:27.789> that<00:20:27.879> the<00:20:28.029> radar<00:20:28.179> doesn't<00:20:28.749> exist<00:20:29.519> it 00:20:30.509 --> 00:20:30.519 align:start position:0% imagine that the radar doesn't exist it 00:20:30.519 --> 00:20:32.549 align:start position:0% imagine that the radar doesn't exist it exists<00:20:31.179> but<00:20:31.269> it's<00:20:31.450> like<00:20:31.659> the<00:20:31.809> response<00:20:32.289> state 00:20:32.549 --> 00:20:32.559 align:start position:0% exists but it's like the response state 00:20:32.559 --> 00:20:36.180 align:start position:0% exists but it's like the response state so<00:20:33.179> let's<00:20:34.179> say<00:20:34.299> that<00:20:34.330> Alice<00:20:35.080> gives<00:20:35.259> a<00:20:35.350> coin<00:20:35.889> and 00:20:36.180 --> 00:20:36.190 align:start position:0% so let's say that Alice gives a coin and 00:20:36.190 --> 00:20:38.100 align:start position:0% so let's say that Alice gives a coin and that<00:20:36.399> the<00:20:36.519> operator<00:20:36.879> they<00:20:37.480> collude<00:20:37.779> with<00:20:37.809> some 00:20:38.100 --> 00:20:38.110 align:start position:0% that the operator they collude with some 00:20:38.110 --> 00:20:39.869 align:start position:0% that the operator they collude with some party<00:20:38.409> to<00:20:38.799> give<00:20:39.009> a<00:20:39.039> Cohen<00:20:39.340> to<00:20:39.399> Bob<00:20:39.549> so<00:20:39.759> they 00:20:39.869 --> 00:20:39.879 align:start position:0% party to give a Cohen to Bob so they 00:20:39.879 --> 00:20:42.480 align:start position:0% party to give a Cohen to Bob so they make<00:20:40.029> an<00:20:40.149> invalid<00:20:40.570> state<00:20:40.869> transition<00:20:41.369> so<00:20:42.369> to 00:20:42.480 --> 00:20:42.490 align:start position:0% make an invalid state transition so to 00:20:42.490 --> 00:20:45.359 align:start position:0% make an invalid state transition so to say<00:20:42.730> in<00:20:43.090> plasma<00:20:43.600> MVP<00:20:44.320> if<00:20:44.499> an<00:20:44.830> invalid<00:20:45.190> state 00:20:45.359 --> 00:20:45.369 align:start position:0% say in plasma MVP if an invalid state 00:20:45.369 --> 00:20:46.950 align:start position:0% say in plasma MVP if an invalid state transition<00:20:45.759> happens<00:20:46.119> the<00:20:46.419> whole<00:20:46.600> change<00:20:46.809> has 00:20:46.950 --> 00:20:46.960 align:start position:0% transition happens the whole change has 00:20:46.960 --> 00:20:49.859 align:start position:0% transition happens the whole change has to<00:20:47.080> move<00:20:47.230> which<00:20:47.619> is<00:20:48.009> impossible<00:20:48.309> so<00:20:49.119> what<00:20:49.779> you 00:20:49.859 --> 00:20:49.869 align:start position:0% to move which is impossible so what you 00:20:49.869 --> 00:20:53.129 align:start position:0% to move which is impossible so what you do<00:20:50.019> is<00:20:50.230> that<00:20:50.289> if<00:20:50.710> somehow<00:20:51.610> Alice<00:20:52.149> somehow 00:20:53.129 --> 00:20:53.139 align:start position:0% do is that if somehow Alice somehow 00:20:53.139 --> 00:20:54.239 align:start position:0% do is that if somehow Alice somehow there<00:20:53.289> is<00:20:53.320> a<00:20:53.379> transaction<00:20:53.710> that<00:20:53.980> gives<00:20:54.159> the 00:20:54.239 --> 00:20:54.249 align:start position:0% there is a transaction that gives the 00:20:54.249 --> 00:20:56.460 align:start position:0% there is a transaction that gives the coin<00:20:54.399> to<00:20:54.519> Bob<00:20:54.700> and<00:20:54.940> Bob<00:20:55.330> starts<00:20:55.960> transacting 00:20:56.460 --> 00:20:56.470 align:start position:0% coin to Bob and Bob starts transacting 00:20:56.470 --> 00:20:58.080 align:start position:0% coin to Bob and Bob starts transacting with<00:20:56.590> this<00:20:56.679> coin<00:20:56.860> this<00:20:57.399> is<00:20:57.490> an<00:20:57.549> invalid<00:20:57.850> state 00:20:58.080 --> 00:20:58.090 align:start position:0% with this coin this is an invalid state 00:20:58.090 --> 00:21:00.720 align:start position:0% with this coin this is an invalid state and<00:20:58.330> if<00:20:59.320> Bob<00:20:59.649> Charlie<00:21:00.070> Dylan<00:21:00.399> aren't 00:21:00.720 --> 00:21:00.730 align:start position:0% and if Bob Charlie Dylan aren't 00:21:00.730 --> 00:21:02.430 align:start position:0% and if Bob Charlie Dylan aren't malicious<00:21:01.119> parties<00:21:01.450> they<00:21:01.629> will<00:21:01.809> check<00:21:02.320> the 00:21:02.430 --> 00:21:02.440 align:start position:0% malicious parties they will check the 00:21:02.440 --> 00:21:03.629 align:start position:0% malicious parties they will check the consistory<00:21:02.889> but<00:21:03.039> they're<00:21:03.190> trying<00:21:03.369> to<00:21:03.429> steal 00:21:03.629 --> 00:21:03.639 align:start position:0% consistory but they're trying to steal 00:21:03.639 --> 00:21:07.830 align:start position:0% consistory but they're trying to steal the<00:21:03.759> coin<00:21:03.970> so<00:21:05.039> Dylan<00:21:06.039> tries<00:21:06.309> to<00:21:06.460> exit<00:21:06.789> and<00:21:06.999> at 00:21:07.830 --> 00:21:07.840 align:start position:0% the coin so Dylan tries to exit and at 00:21:07.840 --> 00:21:09.659 align:start position:0% the coin so Dylan tries to exit and at this<00:21:08.019> point<00:21:08.259> at<00:21:08.470> the<00:21:08.619> seven<00:21:08.889> day<00:21:09.100> period 00:21:09.659 --> 00:21:09.669 align:start position:0% this point at the seven day period 00:21:09.669 --> 00:21:11.970 align:start position:0% this point at the seven day period Alice<00:21:10.210> can<00:21:10.360> say<00:21:10.539> no<00:21:10.840> I<00:21:11.049> am<00:21:11.350> the<00:21:11.499> latest<00:21:11.769> of<00:21:11.889> the 00:21:11.970 --> 00:21:11.980 align:start position:0% Alice can say no I am the latest of the 00:21:11.980 --> 00:21:14.549 align:start position:0% Alice can say no I am the latest of the owner<00:21:12.220> of<00:21:12.369> the<00:21:12.519> coin<00:21:12.669> in<00:21:12.970> this<00:21:13.389> example<00:21:13.749> what 00:21:14.549 --> 00:21:14.559 align:start position:0% owner of the coin in this example what 00:21:14.559 --> 00:21:15.869 align:start position:0% owner of the coin in this example what you<00:21:14.590> can<00:21:14.830> do<00:21:14.980> is<00:21:15.190> that<00:21:15.399> you<00:21:15.490> can<00:21:15.580> actually 00:21:15.869 --> 00:21:15.879 align:start position:0% you can do is that you can actually 00:21:15.879 --> 00:21:17.489 align:start position:0% you can do is that you can actually respond<00:21:16.389> to<00:21:16.480> the<00:21:16.720> exit<00:21:17.019> so<00:21:17.139> this<00:21:17.350> is<00:21:17.440> the 00:21:17.489 --> 00:21:17.499 align:start position:0% respond to the exit so this is the 00:21:17.499 --> 00:21:18.840 align:start position:0% respond to the exit so this is the interactive<00:21:17.860> challenge<00:21:18.340> the<00:21:18.429> previous<00:21:18.730> two 00:21:18.840 --> 00:21:18.850 align:start position:0% interactive challenge the previous two 00:21:18.850 --> 00:21:20.669 align:start position:0% interactive challenge the previous two they<00:21:18.970> were<00:21:19.059> non<00:21:19.269> interactive<00:21:19.779> in<00:21:19.990> this<00:21:20.470> one 00:21:20.669 --> 00:21:20.679 align:start position:0% they were non interactive in this one 00:21:20.679 --> 00:21:22.889 align:start position:0% they were non interactive in this one when<00:21:21.129> you<00:21:21.279> make<00:21:21.429> an<00:21:21.580> exit<00:21:21.909> when<00:21:22.179> you<00:21:22.269> make<00:21:22.419> a 00:21:22.889 --> 00:21:22.899 align:start position:0% when you make an exit when you make a 00:21:22.899 --> 00:21:24.930 align:start position:0% when you make an exit when you make a challenge<00:21:23.259> you<00:21:23.710> can<00:21:23.740> live<00:21:23.950> also<00:21:24.429> some<00:21:24.610> amount 00:21:24.930 --> 00:21:24.940 align:start position:0% challenge you can live also some amount 00:21:24.940 --> 00:21:28.109 align:start position:0% challenge you can live also some amount of<00:21:25.090> time<00:21:25.269> to<00:21:25.629> respond<00:21:25.960> because<00:21:26.710> if<00:21:26.980> Alice<00:21:27.610> made 00:21:28.109 --> 00:21:28.119 align:start position:0% of time to respond because if Alice made 00:21:28.119 --> 00:21:31.950 align:start position:0% of time to respond because if Alice made an<00:21:28.269> invalid<00:21:29.700> exit<00:21:30.700> in<00:21:30.970> an<00:21:31.179> invalid<00:21:31.570> challenge 00:21:31.950 --> 00:21:31.960 align:start position:0% an invalid exit in an invalid challenge 00:21:31.960 --> 00:21:34.230 align:start position:0% an invalid exit in an invalid challenge somebody<00:21:32.710> would<00:21:33.100> should<00:21:33.429> be<00:21:33.549> able<00:21:33.820> to<00:21:33.909> respond 00:21:34.230 --> 00:21:34.240 align:start position:0% somebody would should be able to respond 00:21:34.240 --> 00:21:36.299 align:start position:0% somebody would should be able to respond so<00:21:34.450> that's<00:21:35.139> there<00:21:35.379> where<00:21:35.679> the<00:21:35.860> radar<00:21:36.159> who 00:21:36.299 --> 00:21:36.309 align:start position:0% so that's there where the radar who 00:21:36.309 --> 00:21:37.769 align:start position:0% so that's there where the radar who comes<00:21:36.580> in<00:21:36.730> that<00:21:36.909> you<00:21:37.149> should<00:21:37.389> be<00:21:37.509> able<00:21:37.629> to 00:21:37.769 --> 00:21:37.779 align:start position:0% comes in that you should be able to 00:21:37.779 --> 00:21:39.629 align:start position:0% comes in that you should be able to bridge<00:21:38.080> essentially<00:21:38.830> you<00:21:39.100> should<00:21:39.279> prove<00:21:39.490> that 00:21:39.629 --> 00:21:39.639 align:start position:0% bridge essentially you should prove that 00:21:39.639 --> 00:21:41.489 align:start position:0% bridge essentially you should prove that there<00:21:39.820> is<00:21:39.850> actually<00:21:40.360> spent<00:21:40.960> from<00:21:41.200> Alice<00:21:41.470> to 00:21:41.489 --> 00:21:41.499 align:start position:0% there is actually spent from Alice to 00:21:41.499 --> 00:21:45.330 align:start position:0% there is actually spent from Alice to Bob<00:21:41.590> and<00:21:41.889> invalidates<00:21:42.490> here<00:21:44.159> challenge<00:21:45.159> and 00:21:45.330 --> 00:21:45.340 align:start position:0% Bob and invalidates here challenge and 00:21:45.340 --> 00:21:46.980 align:start position:0% Bob and invalidates here challenge and there<00:21:45.879> can<00:21:45.999> be<00:21:46.029> a<00:21:46.149> number<00:21:46.330> of<00:21:46.600> these<00:21:46.720> so<00:21:46.960> you 00:21:46.980 --> 00:21:46.990 align:start position:0% there can be a number of these so you 00:21:46.990 --> 00:21:48.659 align:start position:0% there can be a number of these so you can<00:21:47.169> have<00:21:47.409> like<00:21:47.559> multiple<00:21:47.769> challenges<00:21:48.369> with 00:21:48.659 --> 00:21:48.669 align:start position:0% can have like multiple challenges with 00:21:48.669 --> 00:21:50.820 align:start position:0% can have like multiple challenges with invalid<00:21:49.059> histories<00:21:49.539> and<00:21:49.690> the<00:21:50.230> final<00:21:50.529> result 00:21:50.820 --> 00:21:50.830 align:start position:0% invalid histories and the final result 00:21:50.830 --> 00:21:52.649 align:start position:0% invalid histories and the final result is<00:21:50.919> that<00:21:51.100> you<00:21:51.190> want<00:21:51.369> it<00:21:51.519> to<00:21:51.639> be<00:21:51.759> you<00:21:52.360> can<00:21:52.389> only 00:21:52.649 --> 00:21:52.659 align:start position:0% is that you want it to be you can only 00:21:52.659 --> 00:21:58.159 align:start position:0% is that you want it to be you can only finalize<00:21:53.139> the<00:21:53.259> exit<00:21:53.529> when<00:21:54.070> it<00:21:54.309> has<00:21:54.580> to<00:21:54.909> do<00:21:56.639> so 00:21:58.159 --> 00:21:58.169 align:start position:0% finalize the exit when it has to do so 00:21:58.169 --> 00:22:00.539 align:start position:0% finalize the exit when it has to do so from<00:21:59.169> my<00:21:59.320> experience<00:21:59.350> like<00:21:59.980> towards<00:22:00.340> building 00:22:00.539 --> 00:22:00.549 align:start position:0% from my experience like towards building 00:22:00.549 --> 00:22:03.330 align:start position:0% from my experience like towards building a<00:22:00.970> client<00:22:01.450> like<00:22:01.779> it<00:22:02.409> has<00:22:02.649> been<00:22:02.799> a<00:22:02.830> pain<00:22:03.039> to 00:22:03.330 --> 00:22:03.340 align:start position:0% a client like it has been a pain to 00:22:03.340 --> 00:22:05.100 align:start position:0% a client like it has been a pain to actually<00:22:03.850> like<00:22:04.029> keep<00:22:04.269> like<00:22:04.809> on<00:22:05.019> the 00:22:05.100 --> 00:22:05.110 align:start position:0% actually like keep like on the 00:22:05.110 --> 00:22:06.450 align:start position:0% actually like keep like on the implementation<00:22:05.710> part<00:22:05.830> has<00:22:06.039> been<00:22:06.190> a<00:22:06.220> paint 00:22:06.450 --> 00:22:06.460 align:start position:0% implementation part has been a paint 00:22:06.460 --> 00:22:08.129 align:start position:0% implementation part has been a paint like<00:22:06.700> I<00:22:06.730> actually<00:22:06.879> keep<00:22:07.119> the<00:22:07.299> plasma<00:22:07.659> contract 00:22:08.129 --> 00:22:08.139 align:start position:0% like I actually keep the plasma contract 00:22:08.139 --> 00:22:11.220 align:start position:0% like I actually keep the plasma contract and<00:22:08.320> the<00:22:08.529> plasma<00:22:08.830> team<00:22:09.129> in<00:22:09.309> sync<00:22:09.850> because<00:22:10.419> you 00:22:11.220 --> 00:22:11.230 align:start position:0% and the plasma team in sync because you 00:22:11.230 --> 00:22:12.840 align:start position:0% and the plasma team in sync because you have<00:22:11.350> essentially<00:22:11.860> cron<00:22:12.100> job<00:22:12.309> with<00:22:12.490> submits 00:22:12.840 --> 00:22:12.850 align:start position:0% have essentially cron job with submits 00:22:12.850 --> 00:22:15.750 align:start position:0% have essentially cron job with submits blog<00:22:13.120> to<00:22:13.299> the<00:22:13.419> main<00:22:13.780> chain<00:22:13.960> and<00:22:14.549> today<00:22:15.549> I 00:22:15.750 --> 00:22:15.760 align:start position:0% blog to the main chain and today I 00:22:15.760 --> 00:22:17.070 align:start position:0% blog to the main chain and today I Syrian<00:22:16.120> whatever<00:22:16.330> you<00:22:16.450> want<00:22:16.570> to<00:22:16.630> call<00:22:16.720> it<00:22:16.870> and 00:22:17.070 --> 00:22:17.080 align:start position:0% Syrian whatever you want to call it and 00:22:17.080 --> 00:22:19.049 align:start position:0% Syrian whatever you want to call it and the<00:22:17.679> thing<00:22:18.010> is<00:22:18.130> that<00:22:18.250> you<00:22:18.580> have<00:22:18.760> to<00:22:18.910> make 00:22:19.049 --> 00:22:19.059 align:start position:0% the thing is that you have to make 00:22:19.059 --> 00:22:21.030 align:start position:0% the thing is that you have to make essentially<00:22:19.780> you<00:22:20.200> mustn't<00:22:20.590> make<00:22:20.710> any 00:22:21.030 --> 00:22:21.040 align:start position:0% essentially you mustn't make any 00:22:21.040 --> 00:22:23.039 align:start position:0% essentially you mustn't make any synchrony<00:22:21.490> assumptions<00:22:21.910> at<00:22:22.390> any<00:22:22.600> time<00:22:22.840> like 00:22:23.039 --> 00:22:23.049 align:start position:0% synchrony assumptions at any time like 00:22:23.049 --> 00:22:24.539 align:start position:0% synchrony assumptions at any time like any<00:22:23.320> state<00:22:23.559> that<00:22:23.679> isn't<00:22:23.830> chained<00:22:24.100> it<00:22:24.250> must<00:22:24.429> be 00:22:24.539 --> 00:22:24.549 align:start position:0% any state that isn't chained it must be 00:22:24.549 --> 00:22:26.430 align:start position:0% any state that isn't chained it must be checkpoint<00:22:24.910> but<00:22:25.150> if<00:22:25.270> there<00:22:25.419> is<00:22:25.510> a<00:22:25.540> delay<00:22:25.750> or<00:22:26.049> if 00:22:26.430 --> 00:22:26.440 align:start position:0% checkpoint but if there is a delay or if 00:22:26.440 --> 00:22:30.210 align:start position:0% checkpoint but if there is a delay or if for<00:22:26.590> some<00:22:26.620> reason<00:22:27.040> the<00:22:28.200> the<00:22:29.200> cron<00:22:29.410> job<00:22:29.620> submits 00:22:30.210 --> 00:22:30.220 align:start position:0% for some reason the the cron job submits 00:22:30.220 --> 00:22:32.070 align:start position:0% for some reason the the cron job submits a<00:22:30.309> block<00:22:30.490> twice<00:22:30.760> you<00:22:31.240> change<00:22:31.510> our<00:22:31.630> out<00:22:31.750> of<00:22:31.780> sync 00:22:32.070 --> 00:22:32.080 align:start position:0% a block twice you change our out of sync 00:22:32.080 --> 00:22:33.720 align:start position:0% a block twice you change our out of sync so<00:22:32.110> you're<00:22:32.350> the<00:22:32.740> main<00:22:32.919> chain<00:22:33.100> contact<00:22:33.490> it's<00:22:33.669> a 00:22:33.720 --> 00:22:33.730 align:start position:0% so you're the main chain contact it's a 00:22:33.730 --> 00:22:36.000 align:start position:0% so you're the main chain contact it's a block<00:22:33.940> 10<00:22:34.150> and<00:22:34.390> the<00:22:34.900> plasma<00:22:35.080> chains<00:22:35.440> block<00:22:35.830> 9 00:22:36.000 --> 00:22:36.010 align:start position:0% block 10 and the plasma chains block 9 00:22:36.010 --> 00:22:40.620 align:start position:0% block 10 and the plasma chains block 9 so<00:22:36.309> that's<00:22:36.730> not<00:22:37.299> bad<00:22:38.250> and<00:22:39.250> and<00:22:39.790> also<00:22:40.360> relates 00:22:40.620 --> 00:22:40.630 align:start position:0% so that's not bad and and also relates 00:22:40.630 --> 00:22:42.360 align:start position:0% so that's not bad and and also relates the<00:22:40.780> second<00:22:41.020> bullet<00:22:41.230> point<00:22:41.290> that<00:22:41.710> whenever 00:22:42.360 --> 00:22:42.370 align:start position:0% the second bullet point that whenever 00:22:42.370 --> 00:22:44.010 align:start position:0% the second bullet point that whenever you're<00:22:42.610> listening<00:22:43.090> so<00:22:43.360> the<00:22:43.570> plasma<00:22:43.750> chain 00:22:44.010 --> 00:22:44.020 align:start position:0% you're listening so the plasma chain 00:22:44.020 --> 00:22:45.870 align:start position:0% you're listening so the plasma chain actually<00:22:44.290> listens<00:22:44.740> for<00:22:44.770> main<00:22:45.040> net<00:22:45.190> events<00:22:45.549> to 00:22:45.870 --> 00:22:45.880 align:start position:0% actually listens for main net events to 00:22:45.880 --> 00:22:48.090 align:start position:0% actually listens for main net events to actually<00:22:46.150> like<00:22:46.330> modify<00:22:46.750> the<00:22:46.809> state<00:22:47.080> and<00:22:47.320> you 00:22:48.090 --> 00:22:48.100 align:start position:0% actually like modify the state and you 00:22:48.100 --> 00:22:49.080 align:start position:0% actually like modify the state and you need<00:22:48.250> to<00:22:48.340> apply<00:22:48.490> them<00:22:48.730> in<00:22:48.820> the<00:22:48.850> right<00:22:49.030> order 00:22:49.080 --> 00:22:49.090 align:start position:0% need to apply them in the right order 00:22:49.090 --> 00:22:50.880 align:start position:0% need to apply them in the right order because<00:22:49.720> if<00:22:49.840> you<00:22:49.929> don't<00:22:50.080> the<00:22:50.380> state<00:22:50.590> will<00:22:50.770> be 00:22:50.880 --> 00:22:50.890 align:start position:0% because if you don't the state will be 00:22:50.890 --> 00:22:54.480 align:start position:0% because if you don't the state will be botched<00:22:51.280> and<00:22:51.610> so<00:22:51.850> it's<00:22:52.000> a<00:22:52.090> problem<00:22:53.280> on<00:22:54.280> the 00:22:54.480 --> 00:22:54.490 align:start position:0% botched and so it's a problem on the 00:22:54.490 --> 00:22:56.970 align:start position:0% botched and so it's a problem on the client-side<00:22:54.910> so<00:22:55.510> this<00:22:55.900> was<00:22:56.080> on<00:22:56.260> the<00:22:56.380> operator 00:22:56.970 --> 00:22:56.980 align:start position:0% client-side so this was on the operator 00:22:56.980 --> 00:22:58.950 align:start position:0% client-side so this was on the operator side<00:22:57.250> lets<00:22:57.460> it<00:22:57.580> have<00:22:57.760> a<00:22:57.790> correct<00:22:58.600> honest 00:22:58.950 --> 00:22:58.960 align:start position:0% side lets it have a correct honest 00:22:58.960 --> 00:23:01.530 align:start position:0% side lets it have a correct honest operator<00:22:59.320> or<00:22:59.530> a<00:22:59.559> software<00:23:00.030> on<00:23:01.030> the<00:23:01.179> client 00:23:01.530 --> 00:23:01.540 align:start position:0% operator or a software on the client 00:23:01.540 --> 00:23:04.169 align:start position:0% operator or a software on the client side<00:23:01.750> you<00:23:02.200> also<00:23:03.160> like<00:23:03.520> whenever<00:23:03.880> you<00:23:04.030> go 00:23:04.169 --> 00:23:04.179 align:start position:0% side you also like whenever you go 00:23:04.179 --> 00:23:05.669 align:start position:0% side you also like whenever you go offline<00:23:04.480> you<00:23:04.840> need<00:23:04.990> to<00:23:05.049> save<00:23:05.200> the<00:23:05.350> block<00:23:05.530> that 00:23:05.669 --> 00:23:05.679 align:start position:0% offline you need to save the block that 00:23:05.679 --> 00:23:06.870 align:start position:0% offline you need to save the block that you<00:23:05.770> went<00:23:05.950> offline<00:23:06.100> and<00:23:06.429> when<00:23:06.610> you<00:23:06.700> go<00:23:06.850> back 00:23:06.870 --> 00:23:06.880 align:start position:0% you went offline and when you go back 00:23:06.880 --> 00:23:09.060 align:start position:0% you went offline and when you go back online<00:23:07.240> and<00:23:07.720> you<00:23:07.840> check<00:23:08.290> everything<00:23:08.830> that 00:23:09.060 --> 00:23:09.070 align:start position:0% online and you check everything that 00:23:09.070 --> 00:23:11.100 align:start position:0% online and you check everything that happened<00:23:09.400> while<00:23:09.760> you're<00:23:10.000> offline<00:23:10.210> it's<00:23:10.690> like 00:23:11.100 --> 00:23:11.110 align:start position:0% happened while you're offline it's like 00:23:11.110 --> 00:23:12.659 align:start position:0% happened while you're offline it's like it<00:23:11.290> sounds<00:23:11.470> like<00:23:11.679> bad<00:23:12.010> but<00:23:12.309> it's<00:23:12.429> like 00:23:12.659 --> 00:23:12.669 align:start position:0% it sounds like bad but it's like 00:23:12.669 --> 00:23:13.919 align:start position:0% it sounds like bad but it's like actually<00:23:13.000> what<00:23:13.120> happened<00:23:13.390> with<00:23:13.510> full<00:23:13.690> nodes 00:23:13.919 --> 00:23:13.929 align:start position:0% actually what happened with full nodes 00:23:13.929 --> 00:23:15.720 align:start position:0% actually what happened with full nodes but<00:23:14.169> I<00:23:14.200> guess<00:23:14.380> it's<00:23:14.500> our<00:23:14.620> approach<00:23:15.520> towards 00:23:15.720 --> 00:23:15.730 align:start position:0% but I guess it's our approach towards 00:23:15.730 --> 00:23:17.549 align:start position:0% but I guess it's our approach towards full<00:23:16.090> nodes<00:23:16.270> but<00:23:16.450> we<00:23:16.600> like<00:23:16.780> very<00:23:17.020> light 00:23:17.549 --> 00:23:17.559 align:start position:0% full nodes but we like very light 00:23:17.559 --> 00:23:20.250 align:start position:0% full nodes but we like very light clients<00:23:17.950> and<00:23:18.429> yeah<00:23:19.330> I'm<00:23:19.419> very<00:23:19.660> much<00:23:19.809> of<00:23:19.870> the 00:23:20.250 --> 00:23:20.260 align:start position:0% clients and yeah I'm very much of the 00:23:20.260 --> 00:23:21.690 align:start position:0% clients and yeah I'm very much of the opinion<00:23:20.290> that<00:23:20.620> you<00:23:20.919> need<00:23:21.070> to<00:23:21.160> keep<00:23:21.309> the<00:23:21.400> client 00:23:21.690 --> 00:23:21.700 align:start position:0% opinion that you need to keep the client 00:23:21.700 --> 00:23:23.159 align:start position:0% opinion that you need to keep the client light<00:23:21.850> if<00:23:22.090> you<00:23:22.210> need<00:23:22.360> to<00:23:22.450> store<00:23:22.630> too<00:23:22.750> much<00:23:22.929> data 00:23:23.159 --> 00:23:23.169 align:start position:0% light if you need to store too much data 00:23:23.169 --> 00:23:25.200 align:start position:0% light if you need to store too much data on<00:23:23.320> it<00:23:23.650> it's<00:23:23.830> bad<00:23:24.070> but<00:23:24.370> also<00:23:24.580> you<00:23:24.790> need<00:23:24.910> to<00:23:25.059> be 00:23:25.200 --> 00:23:25.210 align:start position:0% on it it's bad but also you need to be 00:23:25.210 --> 00:23:27.390 align:start position:0% on it it's bad but also you need to be able<00:23:25.330> like<00:23:25.600> yeah<00:23:26.049> just<00:23:26.530> catch<00:23:26.770> the<00:23:26.950> satyr<00:23:27.160> so 00:23:27.390 --> 00:23:27.400 align:start position:0% able like yeah just catch the satyr so 00:23:27.400 --> 00:23:28.980 align:start position:0% able like yeah just catch the satyr so if<00:23:27.490> you<00:23:27.580> download<00:23:27.669> some<00:23:28.090> data<00:23:28.120> just<00:23:28.690> keep<00:23:28.900> it 00:23:28.980 --> 00:23:28.990 align:start position:0% if you download some data just keep it 00:23:28.990 --> 00:23:30.600 align:start position:0% if you download some data just keep it there<00:23:29.140> and<00:23:29.260> don't<00:23:29.440> discard<00:23:29.799> it<00:23:30.010> this<00:23:30.460> may 00:23:30.600 --> 00:23:30.610 align:start position:0% there and don't discard it this may 00:23:30.610 --> 00:23:36.090 align:start position:0% there and don't discard it this may sound<00:23:30.760> obvious<00:23:30.940> but<00:23:31.179> yeah<00:23:33.540> yeah<00:23:34.540> so<00:23:35.110> we<00:23:36.070> should 00:23:36.090 --> 00:23:36.100 align:start position:0% sound obvious but yeah yeah so we should 00:23:36.100 --> 00:23:38.250 align:start position:0% sound obvious but yeah yeah so we should be<00:23:36.490> able<00:23:36.760> to<00:23:36.940> do<00:23:37.150> better<00:23:37.330> so<00:23:37.660> currently<00:23:38.080> this 00:23:38.250 --> 00:23:38.260 align:start position:0% be able to do better so currently this 00:23:38.260 --> 00:23:40.830 align:start position:0% be able to do better so currently this is<00:23:38.410> like<00:23:38.590> better<00:23:39.580> is<00:23:39.730> the<00:23:39.820> enemy<00:23:39.850> of<00:23:40.059> good<00:23:40.240> good 00:23:40.830 --> 00:23:40.840 align:start position:0% is like better is the enemy of good good 00:23:40.840 --> 00:23:42.810 align:start position:0% is like better is the enemy of good good is<00:23:40.990> good<00:23:41.350> enough<00:23:41.410> currently<00:23:42.100> it<00:23:42.309> is<00:23:42.490> workable 00:23:42.810 --> 00:23:42.820 align:start position:0% is good enough currently it is workable 00:23:42.820 --> 00:23:46.289 align:start position:0% is good enough currently it is workable it<00:23:43.120> is<00:23:43.270> done<00:23:44.230> but<00:23:45.160> we<00:23:45.580> want<00:23:45.790> to<00:23:45.850> do<00:23:45.940> better<00:23:46.120> we 00:23:46.289 --> 00:23:46.299 align:start position:0% it is done but we want to do better we 00:23:46.299 --> 00:23:48.210 align:start position:0% it is done but we want to do better we want<00:23:46.450> to<00:23:46.570> reduce<00:23:46.690> the<00:23:47.470> two<00:23:47.620> main<00:23:47.770> problems<00:23:47.980> I 00:23:48.210 --> 00:23:48.220 align:start position:0% want to reduce the two main problems I 00:23:48.220 --> 00:23:50.250 align:start position:0% want to reduce the two main problems I want<00:23:48.520> to<00:23:48.640> solve<00:23:48.910> is<00:23:49.210> reducing<00:23:49.990> the<00:23:50.110> coin 00:23:50.250 --> 00:23:50.260 align:start position:0% want to solve is reducing the coin 00:23:50.260 --> 00:23:52.590 align:start position:0% want to solve is reducing the coin history<00:23:50.710> and<00:23:50.919> making<00:23:51.610> fungible<00:23:52.000> payments<00:23:52.419> and 00:23:52.590 --> 00:23:52.600 align:start position:0% history and making fungible payments and 00:23:52.600 --> 00:23:53.909 align:start position:0% history and making fungible payments and this<00:23:52.809> pretty<00:23:52.990> much<00:23:53.169> what<00:23:53.350> the<00:23:53.440> plasma<00:23:53.740> prime 00:23:53.909 --> 00:23:53.919 align:start position:0% this pretty much what the plasma prime 00:23:53.919 --> 00:23:57.210 align:start position:0% this pretty much what the plasma prime construction<00:23:54.490> is<00:23:55.260> so<00:23:56.260> I'll<00:23:56.679> just<00:23:56.980> give<00:23:57.130> a 00:23:57.210 --> 00:23:57.220 align:start position:0% construction is so I'll just give a 00:23:57.220 --> 00:24:00.330 align:start position:0% construction is so I'll just give a brief<00:23:57.250> overview<00:23:58.030> of<00:23:58.179> what<00:23:58.390> happens<00:23:58.840> so<00:23:59.500> the 00:24:00.330 --> 00:24:00.340 align:start position:0% brief overview of what happens so the 00:24:00.340 --> 00:24:01.830 align:start position:0% brief overview of what happens so the non<00:24:00.490> fungible<00:24:00.850> coins<00:24:01.059> it's<00:24:01.419> a<00:24:01.480> double-edged 00:24:01.830 --> 00:24:01.840 align:start position:0% non fungible coins it's a double-edged 00:24:01.840 --> 00:24:03.390 align:start position:0% non fungible coins it's a double-edged sword<00:24:02.169> because<00:24:02.230> it<00:24:02.559> gives<00:24:02.770> you<00:24:02.860> this<00:24:03.010> nice 00:24:03.390 --> 00:24:03.400 align:start position:0% sword because it gives you this nice 00:24:03.400 --> 00:24:05.640 align:start position:0% sword because it gives you this nice security<00:24:04.030> providers<00:24:04.540> but<00:24:04.660> you<00:24:04.809> have<00:24:04.960> like<00:24:05.140> you 00:24:05.640 --> 00:24:05.650 align:start position:0% security providers but you have like you 00:24:05.650 --> 00:24:07.710 align:start position:0% security providers but you have like you cannot<00:24:05.860> make<00:24:06.070> the<00:24:06.280> payment<00:24:06.549> so<00:24:06.640> you<00:24:06.669> like<00:24:06.880> so 00:24:07.710 --> 00:24:07.720 align:start position:0% cannot make the payment so you like so 00:24:07.720 --> 00:24:09.780 align:start position:0% cannot make the payment so you like so the<00:24:08.140> one<00:24:08.320> approach<00:24:08.650> is<00:24:09.190> that<00:24:09.250> you<00:24:09.549> have<00:24:09.760> a 00:24:09.780 --> 00:24:09.790 align:start position:0% the one approach is that you have a 00:24:09.790 --> 00:24:11.490 align:start position:0% the one approach is that you have a change<00:24:10.059> provider<00:24:10.390> so<00:24:10.690> I<00:24:10.720> send<00:24:10.990> Jeff<00:24:11.169> like 00:24:11.490 --> 00:24:11.500 align:start position:0% change provider so I send Jeff like 00:24:11.500 --> 00:24:13.770 align:start position:0% change provider so I send Jeff like seven<00:24:11.890> ether<00:24:12.160> and<00:24:12.340> gives<00:24:12.790> two<00:24:13.000> back<00:24:13.179> to<00:24:13.299> me<00:24:13.390> but 00:24:13.770 --> 00:24:13.780 align:start position:0% seven ether and gives two back to me but 00:24:13.780 --> 00:24:15.570 align:start position:0% seven ether and gives two back to me but you<00:24:13.900> need<00:24:14.020> an<00:24:14.140> atomic<00:24:14.530> swap<00:24:15.040> transaction 00:24:15.570 --> 00:24:15.580 align:start position:0% you need an atomic swap transaction 00:24:15.580 --> 00:24:19.289 align:start position:0% you need an atomic swap transaction which<00:24:16.030> before<00:24:16.690> plasma<00:24:17.110> Prime<00:24:17.380> from<00:24:17.980> the<00:24:18.299> dream 00:24:19.289 --> 00:24:19.299 align:start position:0% which before plasma Prime from the dream 00:24:19.299 --> 00:24:23.010 align:start position:0% which before plasma Prime from the dream it<00:24:20.140> didn't<00:24:20.470> exist<00:24:20.740> and<00:24:20.980> the<00:24:21.850> other<00:24:22.059> approach 00:24:23.010 --> 00:24:23.020 align:start position:0% it didn't exist and the other approach 00:24:23.020 --> 00:24:24.970 align:start position:0% it didn't exist and the other approach it<00:24:23.260> was<00:24:23.440> the<00:24:23.620> plasma<00:24:23.950> debit<00:24:24.250> by<00:24:24.490> Dan 00:24:24.970 --> 00:24:24.980 align:start position:0% it was the plasma debit by Dan 00:24:24.980 --> 00:24:28.060 align:start position:0% it was the plasma debit by Dan whoo<00:24:25.190> I<00:24:25.460> love<00:24:25.730> them<00:24:25.940> but<00:24:26.090> he's<00:24:26.210> not<00:24:26.330> sure<00:24:26.510> yeah 00:24:28.060 --> 00:24:28.070 align:start position:0% whoo I love them but he's not sure yeah 00:24:28.070 --> 00:24:29.919 align:start position:0% whoo I love them but he's not sure yeah plasma<00:24:28.520> David<00:24:28.790> which<00:24:28.970> basically<00:24:29.600> like 00:24:29.919 --> 00:24:29.929 align:start position:0% plasma David which basically like 00:24:29.929 --> 00:24:31.360 align:start position:0% plasma David which basically like instead<00:24:30.320> of<00:24:30.380> a<00:24:30.500> common<00:24:30.799> like<00:24:30.919> having<00:24:31.250> a 00:24:31.360 --> 00:24:31.370 align:start position:0% instead of a common like having a 00:24:31.370 --> 00:24:32.680 align:start position:0% instead of a common like having a certain<00:24:31.640> value<00:24:31.790> it<00:24:32.000> can<00:24:32.120> have<00:24:32.270> any<00:24:32.540> value 00:24:32.680 --> 00:24:32.690 align:start position:0% certain value it can have any value 00:24:32.690 --> 00:24:34.600 align:start position:0% certain value it can have any value between<00:24:32.990> 0<00:24:33.380> and<00:24:33.559> that<00:24:33.650> value<00:24:33.710> and<00:24:34.160> you<00:24:34.460> can 00:24:34.600 --> 00:24:34.610 align:start position:0% between 0 and that value and you can 00:24:34.610 --> 00:24:36.669 align:start position:0% between 0 and that value and you can think<00:24:34.790> of<00:24:34.970> it<00:24:35.059> as<00:24:35.090> a<00:24:35.210> liquid<00:24:35.630> like<00:24:35.900> a<00:24:36.260> liquid 00:24:36.669 --> 00:24:36.679 align:start position:0% think of it as a liquid like a liquid 00:24:36.679 --> 00:24:38.860 align:start position:0% think of it as a liquid like a liquid that<00:24:36.890> goes<00:24:37.040> from<00:24:37.190> zero<00:24:37.520> to<00:24:37.610> that<00:24:37.850> to<00:24:38.210> its<00:24:38.630> max 00:24:38.860 --> 00:24:38.870 align:start position:0% that goes from zero to that to its max 00:24:38.870 --> 00:24:40.930 align:start position:0% that goes from zero to that to its max capacity<00:24:39.110> and<00:24:39.710> essentially<00:24:40.490> if<00:24:40.549> you're<00:24:40.669> able 00:24:40.930 --> 00:24:40.940 align:start position:0% capacity and essentially if you're able 00:24:40.940 --> 00:24:43.000 align:start position:0% capacity and essentially if you're able to<00:24:40.970> reduce<00:24:41.360> the<00:24:41.780> one<00:24:41.929> like<00:24:42.169> liquid<00:24:42.559> by<00:24:42.799> a 00:24:43.000 --> 00:24:43.010 align:start position:0% to reduce the one like liquid by a 00:24:43.010 --> 00:24:44.590 align:start position:0% to reduce the one like liquid by a certain<00:24:43.309> amount<00:24:43.340> and<00:24:43.760> increase<00:24:44.299> the<00:24:44.450> other 00:24:44.590 --> 00:24:44.600 align:start position:0% certain amount and increase the other 00:24:44.600 --> 00:24:46.510 align:start position:0% certain amount and increase the other one<00:24:44.809> by<00:24:44.960> another<00:24:45.230> amount<00:24:45.650> essentially<00:24:46.429> we 00:24:46.510 --> 00:24:46.520 align:start position:0% one by another amount essentially we 00:24:46.520 --> 00:24:48.520 align:start position:0% one by another amount essentially we have<00:24:46.669> simulated<00:24:46.970> a<00:24:47.360> transfer<00:24:47.750> from<00:24:48.110> these<00:24:48.350> two 00:24:48.520 --> 00:24:48.530 align:start position:0% have simulated a transfer from these two 00:24:48.530 --> 00:24:50.560 align:start position:0% have simulated a transfer from these two it's<00:24:49.070> very<00:24:49.370> neat<00:24:49.520> because<00:24:49.700> it<00:24:49.940> also<00:24:50.090> has<00:24:50.390> the 00:24:50.560 --> 00:24:50.570 align:start position:0% it's very neat because it also has the 00:24:50.570 --> 00:24:52.510 align:start position:0% it's very neat because it also has the notion<00:24:50.990> of<00:24:51.080> transferable<00:24:51.770> payment<00:24:52.190> channels 00:24:52.510 --> 00:24:52.520 align:start position:0% notion of transferable payment channels 00:24:52.520 --> 00:24:54.970 align:start position:0% notion of transferable payment channels because<00:24:53.270> if<00:24:53.450> I<00:24:53.540> have<00:24:53.720> a<00:24:53.750> coin<00:24:54.020> if<00:24:54.350> I<00:24:54.530> only<00:24:54.740> call 00:24:54.970 --> 00:24:54.980 align:start position:0% because if I have a coin if I only call 00:24:54.980 --> 00:24:56.380 align:start position:0% because if I have a coin if I only call him<00:24:55.070> that<00:24:55.190> is<00:24:55.309> like<00:24:55.460> with<00:24:55.700> some<00:24:55.880> balance<00:24:56.210> and 00:24:56.380 --> 00:24:56.390 align:start position:0% him that is like with some balance and 00:24:56.390 --> 00:24:58.180 align:start position:0% him that is like with some balance and they<00:24:56.780> transferred<00:24:57.140> somebody<00:24:57.530> else<00:24:57.710> it's 00:24:58.180 --> 00:24:58.190 align:start position:0% they transferred somebody else it's 00:24:58.190 --> 00:25:00.880 align:start position:0% they transferred somebody else it's essentially<00:24:58.640> that<00:24:58.760> guy<00:24:58.970> who<00:24:59.030> has<00:24:59.360> now<00:24:59.740> it<00:25:00.740> has 00:25:00.880 --> 00:25:00.890 align:start position:0% essentially that guy who has now it has 00:25:00.890 --> 00:25:02.980 align:start position:0% essentially that guy who has now it has the<00:25:01.100> payments<00:25:01.700> on<00:25:01.790> a<00:25:01.820> loan<00:25:01.910> it's<00:25:02.510> very<00:25:02.809> very 00:25:02.980 --> 00:25:02.990 align:start position:0% the payments on a loan it's very very 00:25:02.990 --> 00:25:05.350 align:start position:0% the payments on a loan it's very very convenient<00:25:03.290> and<00:25:03.950> the<00:25:04.460> final<00:25:04.760> approach<00:25:05.030> which 00:25:05.350 --> 00:25:05.360 align:start position:0% convenient and the final approach which 00:25:05.360 --> 00:25:07.510 align:start position:0% convenient and the final approach which is<00:25:05.480> the<00:25:05.600> cash<00:25:05.900> flow<00:25:06.520> defragmentation 00:25:07.510 --> 00:25:07.520 align:start position:0% is the cash flow defragmentation 00:25:07.520 --> 00:25:10.299 align:start position:0% is the cash flow defragmentation whatever<00:25:08.150> is<00:25:08.990> that<00:25:09.200> I<00:25:09.350> deposit<00:25:09.799> like<00:25:09.980> one 00:25:10.299 --> 00:25:10.309 align:start position:0% whatever is that I deposit like one 00:25:10.309 --> 00:25:12.190 align:start position:0% whatever is that I deposit like one ether<00:25:10.580> and<00:25:10.790> instead<00:25:11.299> of<00:25:11.360> depositing<00:25:11.690> one<00:25:12.080> is 00:25:12.190 --> 00:25:12.200 align:start position:0% ether and instead of depositing one is 00:25:12.200 --> 00:25:15.400 align:start position:0% ether and instead of depositing one is there<00:25:12.350> I<00:25:12.500> get<00:25:12.740> 100<00:25:13.600> 0.01<00:25:14.600> in<00:25:14.750> three<00:25:14.870> coins<00:25:15.080> and 00:25:15.400 --> 00:25:15.410 align:start position:0% there I get 100 0.01 in three coins and 00:25:15.410 --> 00:25:17.770 align:start position:0% there I get 100 0.01 in three coins and I<00:25:15.440> can<00:25:16.220> move<00:25:16.370> them<00:25:16.520> around<00:25:16.640> and<00:25:16.970> so<00:25:17.150> on<00:25:17.240> but<00:25:17.660> the 00:25:17.770 --> 00:25:17.780 align:start position:0% I can move them around and so on but the 00:25:17.780 --> 00:25:19.450 align:start position:0% I can move them around and so on but the problem<00:25:18.140> with<00:25:18.260> that<00:25:18.440> is<00:25:18.650> that<00:25:18.710> if<00:25:19.100> I<00:25:19.280> have 00:25:19.450 --> 00:25:19.460 align:start position:0% problem with that is that if I have 00:25:19.460 --> 00:25:21.789 align:start position:0% problem with that is that if I have let's<00:25:19.730> say<00:25:19.820> like<00:25:20.059> 10<00:25:20.419> coins<00:25:20.780> in<00:25:20.929> a<00:25:20.990> row<00:25:21.140> and<00:25:21.380> I 00:25:21.789 --> 00:25:21.799 align:start position:0% let's say like 10 coins in a row and I 00:25:21.799 --> 00:25:24.159 align:start position:0% let's say like 10 coins in a row and I send<00:25:22.040> the<00:25:22.130> middle<00:25:22.370> coin<00:25:22.580> suddenly<00:25:23.540> I<00:25:23.660> have<00:25:23.900> to 00:25:24.159 --> 00:25:24.169 align:start position:0% send the middle coin suddenly I have to 00:25:24.169 --> 00:25:27.010 align:start position:0% send the middle coin suddenly I have to like<00:25:24.679> I<00:25:24.770> have<00:25:24.950> two<00:25:25.190> subtrees<00:25:26.090> and<00:25:26.390> the<00:25:26.809> whole 00:25:27.010 --> 00:25:27.020 align:start position:0% like I have two subtrees and the whole 00:25:27.020 --> 00:25:28.600 align:start position:0% like I have two subtrees and the whole technically<00:25:27.890> efficiencies<00:25:28.400> of<00:25:28.460> this 00:25:28.600 --> 00:25:28.610 align:start position:0% technically efficiencies of this 00:25:28.610 --> 00:25:30.280 align:start position:0% technically efficiencies of this technique<00:25:28.880> is<00:25:29.120> that<00:25:29.330> you<00:25:29.540> can<00:25:29.690> exit<00:25:29.929> multiple 00:25:30.280 --> 00:25:30.290 align:start position:0% technique is that you can exit multiple 00:25:30.290 --> 00:25:32.169 align:start position:0% technique is that you can exit multiple coins<00:25:30.590> by<00:25:30.710> exiting<00:25:31.070> the<00:25:31.190> sub-tree<00:25:31.580> by<00:25:31.940> proving 00:25:32.169 --> 00:25:32.179 align:start position:0% coins by exiting the sub-tree by proving 00:25:32.179 --> 00:25:35.890 align:start position:0% coins by exiting the sub-tree by proving it<00:25:32.450> with<00:25:32.600> whatever<00:25:32.809> magic<00:25:33.260> and<00:25:34.150> yeah<00:25:35.150> and<00:25:35.360> the 00:25:35.890 --> 00:25:35.900 align:start position:0% it with whatever magic and yeah and the 00:25:35.900 --> 00:25:37.330 align:start position:0% it with whatever magic and yeah and the other<00:25:36.049> approach<00:25:36.380> is<00:25:36.410> like<00:25:36.740> how<00:25:36.980> will<00:25:37.040> we 00:25:37.330 --> 00:25:37.340 align:start position:0% other approach is like how will we 00:25:37.340 --> 00:25:40.060 align:start position:0% other approach is like how will we reduce<00:25:37.610> the<00:25:37.730> history<00:25:38.270> right<00:25:38.570> so<00:25:39.530> first<00:25:39.679> little 00:25:40.060 --> 00:25:40.070 align:start position:0% reduce the history right so first little 00:25:40.070 --> 00:25:42.400 align:start position:0% reduce the history right so first little checkpoints<00:25:40.520> the<00:25:41.030> LDR<00:25:41.360> it's<00:25:41.510> like<00:25:41.840> you<00:25:42.230> have<00:25:42.380> a 00:25:42.400 --> 00:25:42.410 align:start position:0% checkpoints the LDR it's like you have a 00:25:42.410 --> 00:25:44.470 align:start position:0% checkpoints the LDR it's like you have a coin<00:25:42.650> and<00:25:42.919> you<00:25:42.980> instead<00:25:43.400> of<00:25:43.460> validating<00:25:44.090> from 00:25:44.470 --> 00:25:44.480 align:start position:0% coin and you instead of validating from 00:25:44.480 --> 00:25:46.780 align:start position:0% coin and you instead of validating from its<00:25:44.630> deposit<00:25:45.080> which<00:25:45.260> is<00:25:45.350> like<00:25:45.500> 10<00:25:46.070> 10<00:25:46.460> million 00:25:46.780 --> 00:25:46.790 align:start position:0% its deposit which is like 10 10 million 00:25:46.790 --> 00:25:48.669 align:start position:0% its deposit which is like 10 10 million blocks<00:25:47.030> ago<00:25:47.419> you<00:25:47.840> filed<00:25:47.990> it<00:25:48.200> up<00:25:48.320> to<00:25:48.440> the<00:25:48.530> last 00:25:48.669 --> 00:25:48.679 align:start position:0% blocks ago you filed it up to the last 00:25:48.679 --> 00:25:50.470 align:start position:0% blocks ago you filed it up to the last checkpoint<00:25:48.919> so<00:25:49.400> you<00:25:49.460> pick<00:25:49.820> the<00:25:49.970> checkpoint 00:25:50.470 --> 00:25:50.480 align:start position:0% checkpoint so you pick the checkpoint 00:25:50.480 --> 00:25:53.740 align:start position:0% checkpoint so you pick the checkpoint I'm<00:25:51.490> arranged<00:25:52.490> to<00:25:52.730> be<00:25:52.850> like<00:25:53.030> manageable 00:25:53.740 --> 00:25:53.750 align:start position:0% I'm arranged to be like manageable 00:25:53.750 --> 00:25:56.710 align:start position:0% I'm arranged to be like manageable however<00:25:54.650> I<00:25:55.429> claim<00:25:55.850> that<00:25:55.880> this<00:25:56.210> requires<00:25:56.570> too 00:25:56.710 --> 00:25:56.720 align:start position:0% however I claim that this requires too 00:25:56.720 --> 00:25:58.150 align:start position:0% however I claim that this requires too much<00:25:56.750> social<00:25:57.200> coordination<00:25:57.799> because<00:25:58.070> it 00:25:58.150 --> 00:25:58.160 align:start position:0% much social coordination because it 00:25:58.160 --> 00:26:00.820 align:start position:0% much social coordination because it involves<00:25:58.490> the<00:25:58.549> operate<00:25:58.850> or<00:25:58.970> advertising<00:25:59.830> it's 00:26:00.820 --> 00:26:00.830 align:start position:0% involves the operate or advertising it's 00:26:00.830 --> 00:26:03.490 align:start position:0% involves the operate or advertising it's it's<00:26:01.220> complicated<00:26:01.760> and<00:26:02.020> the<00:26:03.020> other<00:26:03.169> approach 00:26:03.490 --> 00:26:03.500 align:start position:0% it's complicated and the other approach 00:26:03.500 --> 00:26:05.230 align:start position:0% it's complicated and the other approach is<00:26:03.530> that<00:26:03.740> you<00:26:03.919> can<00:26:04.160> like<00:26:04.400> simply<00:26:04.790> like<00:26:05.000> mess 00:26:05.230 --> 00:26:05.240 align:start position:0% is that you can like simply like mess 00:26:05.240 --> 00:26:07.510 align:start position:0% is that you can like simply like mess make<00:26:05.600> less<00:26:05.840> frequent<00:26:06.260> commitments<00:26:06.890> but<00:26:07.250> this 00:26:07.510 --> 00:26:07.520 align:start position:0% make less frequent commitments but this 00:26:07.520 --> 00:26:09.520 align:start position:0% make less frequent commitments but this hits<00:26:08.419> on<00:26:08.630> your<00:26:08.809> throughput<00:26:09.230> and<00:26:09.410> your 00:26:09.520 --> 00:26:09.530 align:start position:0% hits on your throughput and your 00:26:09.530 --> 00:26:12.310 align:start position:0% hits on your throughput and your capacity<00:26:09.820> because<00:26:10.820> if<00:26:11.150> I<00:26:11.299> have<00:26:11.540> like<00:26:11.750> you 00:26:12.310 --> 00:26:12.320 align:start position:0% capacity because if I have like you 00:26:12.320 --> 00:26:14.169 align:start position:0% capacity because if I have like you basically<00:26:12.650> say<00:26:12.890> that<00:26:13.070> if<00:26:13.460> I<00:26:13.669> have<00:26:13.820> like<00:26:14.000> one 00:26:14.169 --> 00:26:14.179 align:start position:0% basically say that if I have like one 00:26:14.179 --> 00:26:16.000 align:start position:0% basically say that if I have like one gigabyte<00:26:14.540> of<00:26:14.720> history<00:26:15.049> and<00:26:15.350> they<00:26:15.559> commit<00:26:15.799> one 00:26:16.000 --> 00:26:16.010 align:start position:0% gigabyte of history and they commit one 00:26:16.010 --> 00:26:18.190 align:start position:0% gigabyte of history and they commit one time<00:26:16.190> every<00:26:16.460> 15<00:26:16.790> seconds<00:26:17.120> it<00:26:17.630> makes<00:26:17.840> sense<00:26:18.020> to 00:26:18.190 --> 00:26:18.200 align:start position:0% time every 15 seconds it makes sense to 00:26:18.200 --> 00:26:19.750 align:start position:0% time every 15 seconds it makes sense to say<00:26:18.350> that<00:26:18.380> if<00:26:18.740> I<00:26:18.890> commit<00:26:19.070> one<00:26:19.370> time<00:26:19.520> every 00:26:19.750 --> 00:26:19.760 align:start position:0% say that if I commit one time every 00:26:19.760 --> 00:26:21.880 align:start position:0% say that if I commit one time every minute<00:26:20.059> the<00:26:20.480> coin<00:26:20.660> history<00:26:20.990> goes<00:26:21.200> down<00:26:21.380> by<00:26:21.590> one 00:26:21.880 --> 00:26:21.890 align:start position:0% minute the coin history goes down by one 00:26:21.890 --> 00:26:24.370 align:start position:0% minute the coin history goes down by one fourth<00:26:22.100> by<00:26:22.190> to<00:26:22.640> the<00:26:22.730> one<00:26:22.940> fourth<00:26:23.230> the<00:26:24.230> other 00:26:24.370 --> 00:26:24.380 align:start position:0% fourth by to the one fourth the other 00:26:24.380 --> 00:26:26.430 align:start position:0% fourth by to the one fourth the other approach<00:26:24.679> to<00:26:24.890> use<00:26:25.040> the<00:26:25.190> probabilistic 00:26:26.430 --> 00:26:26.440 align:start position:0% approach to use the probabilistic 00:26:26.440 --> 00:26:28.750 align:start position:0% approach to use the probabilistic structure<00:26:27.440> with<00:26:27.679> the<00:26:27.710> bloom<00:26:28.040> filters<00:26:28.400> but<00:26:28.580> if 00:26:28.750 --> 00:26:28.760 align:start position:0% structure with the bloom filters but if 00:26:28.760 --> 00:26:30.610 align:start position:0% structure with the bloom filters but if the<00:26:28.880> bloom<00:26:29.120> filter<00:26:29.150> has<00:26:29.660> false<00:26:29.929> positives<00:26:30.470> and 00:26:30.610 --> 00:26:30.620 align:start position:0% the bloom filter has false positives and 00:26:30.620 --> 00:26:32.620 align:start position:0% the bloom filter has false positives and it<00:26:30.740> was<00:26:30.830> shown<00:26:31.040> recently<00:26:31.490> that<00:26:32.120> you<00:26:32.390> can 00:26:32.620 --> 00:26:32.630 align:start position:0% it was shown recently that you can 00:26:32.630 --> 00:26:37.299 align:start position:0% it was shown recently that you can actually<00:26:32.840> like<00:26:33.169> pollute<00:26:35.679> the<00:26:36.679> bloom<00:26:37.280> filter 00:26:37.299 --> 00:26:37.309 align:start position:0% actually like pollute the bloom filter 00:26:37.309 --> 00:26:38.740 align:start position:0% actually like pollute the bloom filter yeah 00:26:38.740 --> 00:26:38.750 align:start position:0% yeah 00:26:38.750 --> 00:26:40.419 align:start position:0% yeah in<00:26:38.990> other<00:26:39.169> words<00:26:39.470> the<00:26:39.679> accumulator<00:26:40.100> so 00:26:40.419 --> 00:26:40.429 align:start position:0% in other words the accumulator so 00:26:40.429 --> 00:26:41.710 align:start position:0% in other words the accumulator so without<00:26:40.640> human<00:26:40.940> leaders<00:26:41.179> what<00:26:41.360> you<00:26:41.480> do<00:26:41.600> is 00:26:41.710 --> 00:26:41.720 align:start position:0% without human leaders what you do is 00:26:41.720 --> 00:26:43.450 align:start position:0% without human leaders what you do is that<00:26:41.750> the<00:26:42.200> goal<00:26:42.409> without<00:26:42.650> human<00:26:43.010> leaders<00:26:43.309> is 00:26:43.450 --> 00:26:43.460 align:start position:0% that the goal without human leaders is 00:26:43.460 --> 00:26:45.430 align:start position:0% that the goal without human leaders is that<00:26:43.700> you<00:26:43.789> succinctly<00:26:44.210> prove<00:26:44.539> the<00:26:45.049> inclusion 00:26:45.430 --> 00:26:45.440 align:start position:0% that you succinctly prove the inclusion 00:26:45.440 --> 00:26:47.110 align:start position:0% that you succinctly prove the inclusion or<00:26:45.590> non<00:26:45.770> inclusion<00:26:46.130> of<00:26:46.190> something<00:26:46.580> and<00:26:46.789> you 00:26:47.110 --> 00:26:47.120 align:start position:0% or non inclusion of something and you 00:26:47.120 --> 00:26:49.060 align:start position:0% or non inclusion of something and you either<00:26:47.720> are<00:26:47.990> set<00:26:48.289> middle<00:26:48.710> which<00:26:48.860> is<00:26:48.980> the 00:26:49.060 --> 00:26:49.070 align:start position:0% either are set middle which is the 00:26:49.070 --> 00:26:51.159 align:start position:0% either are set middle which is the current<00:26:49.400> like<00:26:49.549> approach<00:26:50.419> that<00:26:50.690> people<00:26:50.990> like 00:26:51.159 --> 00:26:51.169 align:start position:0% current like approach that people like 00:26:51.169 --> 00:26:53.409 align:start position:0% current like approach that people like or<00:26:51.919> it<00:26:52.130> is<00:26:52.220> another<00:26:52.580> alternative<00:26:52.730> which<00:26:53.299> is 00:26:53.409 --> 00:26:53.419 align:start position:0% or it is another alternative which is 00:26:53.419 --> 00:26:55.149 align:start position:0% or it is another alternative which is paying<00:26:53.600> based<00:26:53.870> which<00:26:54.140> I<00:26:54.590> would<00:26:54.919> like<00:26:55.039> to 00:26:55.149 --> 00:26:55.159 align:start position:0% paying based which I would like to 00:26:55.159 --> 00:26:57.299 align:start position:0% paying based which I would like to discuss<00:26:55.429> the<00:26:55.669> plasma<00:26:55.970> called<00:26:56.150> life<00:26:56.330> later<00:26:56.720> and 00:26:57.299 --> 00:26:57.309 align:start position:0% discuss the plasma called life later and 00:26:57.309 --> 00:27:01.659 align:start position:0% discuss the plasma called life later and the<00:26:58.309> final<00:26:58.640> thing<00:26:59.270> that<00:27:00.080> magic<00:27:00.950> black<00:27:01.220> box<00:27:01.250> the 00:27:01.659 --> 00:27:01.669 align:start position:0% the final thing that magic black box the 00:27:01.669 --> 00:27:03.820 align:start position:0% the final thing that magic black box the snark<00:27:02.059> stark<00:27:02.390> toolkit<00:27:03.110> which<00:27:03.289> I<00:27:03.470> was<00:27:03.590> at<00:27:03.740> the 00:27:03.820 --> 00:27:03.830 align:start position:0% snark stark toolkit which I was at the 00:27:03.830 --> 00:27:06.880 align:start position:0% snark stark toolkit which I was at the historic<00:27:04.090> presentation<00:27:05.090> yesterday<00:27:05.450> and<00:27:05.890> I 00:27:06.880 --> 00:27:06.890 align:start position:0% historic presentation yesterday and I 00:27:06.890 --> 00:27:08.860 align:start position:0% historic presentation yesterday and I was<00:27:07.490> informed<00:27:07.640> that<00:27:07.970> it<00:27:08.240> is<00:27:08.419> possible<00:27:08.809> to 00:27:08.860 --> 00:27:08.870 align:start position:0% was informed that it is possible to 00:27:08.870 --> 00:27:10.360 align:start position:0% was informed that it is possible to actually<00:27:09.200> do<00:27:09.289> budget<00:27:09.679> proofs<00:27:09.919> and<00:27:10.070> everything 00:27:10.360 --> 00:27:10.370 align:start position:0% actually do budget proofs and everything 00:27:10.370 --> 00:27:12.310 align:start position:0% actually do budget proofs and everything we<00:27:10.460> need<00:27:10.610> like<00:27:10.850> with<00:27:11.000> Starks<00:27:11.299> in<00:27:11.659> a<00:27:11.780> realistic 00:27:12.310 --> 00:27:12.320 align:start position:0% we need like with Starks in a realistic 00:27:12.320 --> 00:27:14.169 align:start position:0% we need like with Starks in a realistic time<00:27:12.620> frame<00:27:12.650> so<00:27:13.159> that<00:27:13.370> will<00:27:13.520> be<00:27:13.640> like<00:27:13.820> lovely 00:27:14.169 --> 00:27:14.179 align:start position:0% time frame so that will be like lovely 00:27:14.179 --> 00:27:17.649 align:start position:0% time frame so that will be like lovely if<00:27:14.330> we<00:27:14.450> can<00:27:14.570> have<00:27:14.720> it<00:27:14.840> and<00:27:16.090> yeah<00:27:17.090> okay<00:27:17.390> there<00:27:17.570> is 00:27:17.649 --> 00:27:17.659 align:start position:0% if we can have it and yeah okay there is 00:27:17.659 --> 00:27:20.320 align:start position:0% if we can have it and yeah okay there is this<00:27:17.809> other<00:27:17.960> thing<00:27:18.080> so<00:27:18.500> currently<00:27:19.090> the<00:27:20.090> UX 00:27:20.320 --> 00:27:20.330 align:start position:0% this other thing so currently the UX 00:27:20.330 --> 00:27:22.060 align:start position:0% this other thing so currently the UX sucks<00:27:20.570> you<00:27:21.080> need<00:27:21.200> to<00:27:21.289> wait<00:27:21.409> seven<00:27:21.740> days<00:27:21.770> to 00:27:22.060 --> 00:27:22.070 align:start position:0% sucks you need to wait seven days to 00:27:22.070 --> 00:27:24.640 align:start position:0% sucks you need to wait seven days to exit<00:27:22.429> the<00:27:22.490> coin<00:27:22.669> if<00:27:22.970> you<00:27:23.240> need<00:27:23.419> to<00:27:23.510> xtogo<00:27:23.929> my 00:27:24.640 --> 00:27:24.650 align:start position:0% exit the coin if you need to xtogo my 00:27:24.650 --> 00:27:25.870 align:start position:0% exit the coin if you need to xtogo my appearance<00:27:24.980> that<00:27:25.100> you<00:27:25.220> don't<00:27:25.400> need<00:27:25.490> to<00:27:25.549> accept 00:27:25.870 --> 00:27:25.880 align:start position:0% appearance that you don't need to accept 00:27:25.880 --> 00:27:28.419 align:start position:0% appearance that you don't need to accept the<00:27:25.940> coin<00:27:26.090> but<00:27:26.330> it<00:27:26.510> must<00:27:26.780> be<00:27:26.929> there<00:27:27.280> so<00:27:28.280> what 00:27:28.419 --> 00:27:28.429 align:start position:0% the coin but it must be there so what 00:27:28.429 --> 00:27:30.190 align:start position:0% the coin but it must be there so what you<00:27:28.460> can<00:27:28.700> do<00:27:28.820> is<00:27:29.030> that<00:27:29.150> you<00:27:29.210> little<00:27:29.929> like 00:27:30.190 --> 00:27:30.200 align:start position:0% you can do is that you little like 00:27:30.200 --> 00:27:32.409 align:start position:0% you can do is that you little like tokenized<00:27:30.710> exit<00:27:31.070> so<00:27:31.159> I<00:27:31.220> make<00:27:31.400> an<00:27:31.490> exit<00:27:31.820> instead 00:27:32.409 --> 00:27:32.419 align:start position:0% tokenized exit so I make an exit instead 00:27:32.419 --> 00:27:33.970 align:start position:0% tokenized exit so I make an exit instead of<00:27:32.539> like<00:27:32.720> owning<00:27:32.960> the<00:27:33.230> exit<00:27:33.470> I<00:27:33.559> can<00:27:33.710> get<00:27:33.890> the 00:27:33.970 --> 00:27:33.980 align:start position:0% of like owning the exit I can get the 00:27:33.980 --> 00:27:37.330 align:start position:0% of like owning the exit I can get the near<00:27:34.190> c71<00:27:34.700> or<00:27:34.970> whatever<00:27:35.330> non<00:27:35.570> fungible<00:27:36.190> and<00:27:37.190> I 00:27:37.330 --> 00:27:37.340 align:start position:0% near c71 or whatever non fungible and I 00:27:37.340 --> 00:27:38.950 align:start position:0% near c71 or whatever non fungible and I can<00:27:37.520> sell<00:27:37.730> that<00:27:37.909> around<00:27:38.179> and<00:27:38.450> whoever<00:27:38.720> owns 00:27:38.950 --> 00:27:38.960 align:start position:0% can sell that around and whoever owns 00:27:38.960 --> 00:27:40.630 align:start position:0% can sell that around and whoever owns that<00:27:39.080> coin<00:27:39.380> it's<00:27:39.590> like<00:27:39.710> a<00:27:39.740> coupon<00:27:40.039> and<00:27:40.370> you<00:27:40.429> can 00:27:40.630 --> 00:27:40.640 align:start position:0% that coin it's like a coupon and you can 00:27:40.640 --> 00:27:42.370 align:start position:0% that coin it's like a coupon and you can send<00:27:40.909> it<00:27:41.030> and<00:27:41.120> you<00:27:41.270> can<00:27:41.419> after<00:27:42.049> the<00:27:42.169> exit 00:27:42.370 --> 00:27:42.380 align:start position:0% send it and you can after the exit 00:27:42.380 --> 00:27:43.630 align:start position:0% send it and you can after the exit period<00:27:42.650> has<00:27:42.770> passed<00:27:42.950> you<00:27:43.130> can<00:27:43.159> withdraw<00:27:43.460> it 00:27:43.630 --> 00:27:43.640 align:start position:0% period has passed you can withdraw it 00:27:43.640 --> 00:27:46.720 align:start position:0% period has passed you can withdraw it and<00:27:44.110> the<00:27:45.110> whole<00:27:45.409> construction<00:27:45.650> is<00:27:46.039> that<00:27:46.070> this 00:27:46.720 --> 00:27:46.730 align:start position:0% and the whole construction is that this 00:27:46.730 --> 00:27:48.820 align:start position:0% and the whole construction is that this creates<00:27:47.090> a<00:27:47.150> whole<00:27:47.330> market<00:27:47.750> for<00:27:47.929> exits<00:27:48.260> where 00:27:48.820 --> 00:27:48.830 align:start position:0% creates a whole market for exits where 00:27:48.830 --> 00:27:51.159 align:start position:0% creates a whole market for exits where instead<00:27:49.580> of<00:27:49.669> like<00:27:49.789> pay<00:27:50.000> if<00:27:50.210> I<00:27:50.330> if<00:27:50.570> I'm<00:27:50.780> exiting 00:27:51.159 --> 00:27:51.169 align:start position:0% instead of like pay if I if I'm exiting 00:27:51.169 --> 00:27:53.409 align:start position:0% instead of like pay if I if I'm exiting five<00:27:51.380> if<00:27:51.580> essential<00:27:52.580> somebody<00:27:52.940> else<00:27:53.120> is 00:27:53.409 --> 00:27:53.419 align:start position:0% five if essential somebody else is 00:27:53.419 --> 00:27:55.539 align:start position:0% five if essential somebody else is probably<00:27:53.840> willing<00:27:54.169> to<00:27:54.289> buy<00:27:54.440> my<00:27:54.650> coin<00:27:54.980> for<00:27:55.309> four 00:27:55.539 --> 00:27:55.549 align:start position:0% probably willing to buy my coin for four 00:27:55.549 --> 00:27:57.190 align:start position:0% probably willing to buy my coin for four point<00:27:55.789> nine<00:27:55.970> five<00:27:56.210> weeks<00:27:56.480> because<00:27:56.960> they<00:27:57.049> have 00:27:57.190 --> 00:27:57.200 align:start position:0% point nine five weeks because they have 00:27:57.200 --> 00:27:59.440 align:start position:0% point nine five weeks because they have a<00:27:57.230> lower<00:27:57.440> term<00:27:57.740> preference<00:27:58.190> and<00:27:58.370> this<00:27:59.059> party 00:27:59.440 --> 00:27:59.450 align:start position:0% a lower term preference and this party 00:27:59.450 --> 00:28:00.820 align:start position:0% a lower term preference and this party it<00:27:59.539> makes<00:27:59.720> sense<00:27:59.900> to<00:28:00.080> say<00:28:00.260> that<00:28:00.500> it<00:28:00.650> will<00:28:00.770> be 00:28:00.820 --> 00:28:00.830 align:start position:0% it makes sense to say that it will be 00:28:00.830 --> 00:28:02.230 align:start position:0% it makes sense to say that it will be the<00:28:01.070> operator<00:28:01.400> because<00:28:01.760> they're<00:28:01.909> running<00:28:02.179> in 00:28:02.230 --> 00:28:02.240 align:start position:0% the operator because they're running in 00:28:02.240 --> 00:28:03.460 align:start position:0% the operator because they're running in the<00:28:02.330> chain<00:28:02.480> and<00:28:02.510> they<00:28:02.690> don't<00:28:02.870> care<00:28:03.020> and<00:28:03.200> they 00:28:03.460 --> 00:28:03.470 align:start position:0% the chain and they don't care and they 00:28:03.470 --> 00:28:05.380 align:start position:0% the chain and they don't care and they also<00:28:03.620> run<00:28:03.860> a<00:28:03.919> full<00:28:04.190> node<00:28:04.370> anyway<00:28:04.730> so<00:28:04.789> they<00:28:05.120> they 00:28:05.380 --> 00:28:05.390 align:start position:0% also run a full node anyway so they they 00:28:05.390 --> 00:28:07.720 align:start position:0% also run a full node anyway so they they know<00:28:05.539> what's<00:28:05.750> valid<00:28:05.929> in<00:28:06.110> not<00:28:06.260> and<00:28:06.710> the<00:28:07.460> second 00:28:07.720 --> 00:28:07.730 align:start position:0% know what's valid in not and the second 00:28:07.730 --> 00:28:10.060 align:start position:0% know what's valid in not and the second one<00:28:07.880> is<00:28:08.059> the<00:28:08.179> optimistic<00:28:08.510> exit<00:28:08.990> so<00:28:09.230> instead<00:28:09.980> of 00:28:10.060 --> 00:28:10.070 align:start position:0% one is the optimistic exit so instead of 00:28:10.070 --> 00:28:10.690 align:start position:0% one is the optimistic exit so instead of exiting 00:28:10.690 --> 00:28:10.700 align:start position:0% exiting 00:28:10.700 --> 00:28:11.770 align:start position:0% exiting so<00:28:10.789> when<00:28:10.940> exiting<00:28:11.210> you<00:28:11.360> need<00:28:11.480> to<00:28:11.600> provide 00:28:11.770 --> 00:28:11.780 align:start position:0% so when exiting you need to provide 00:28:11.780 --> 00:28:13.899 align:start position:0% so when exiting you need to provide medical<00:28:12.140> proof<00:28:12.289> signature<00:28:12.770> whole<00:28:13.549> lot<00:28:13.789> of 00:28:13.899 --> 00:28:13.909 align:start position:0% medical proof signature whole lot of 00:28:13.909 --> 00:28:15.909 align:start position:0% medical proof signature whole lot of stuff<00:28:14.059> it's<00:28:14.600> a<00:28:14.720> lot<00:28:14.840> of<00:28:14.870> data<00:28:15.080> so<00:28:15.350> that<00:28:15.500> the<00:28:15.740> gas 00:28:15.909 --> 00:28:15.919 align:start position:0% stuff it's a lot of data so that the gas 00:28:15.919 --> 00:28:18.730 align:start position:0% stuff it's a lot of data so that the gas can<00:28:16.280> go<00:28:16.400> from<00:28:16.600> 100<00:28:17.600> thousand<00:28:17.960> to<00:28:18.049> like<00:28:18.590> two 00:28:18.730 --> 00:28:18.740 align:start position:0% can go from 100 thousand to like two 00:28:18.740 --> 00:28:20.080 align:start position:0% can go from 100 thousand to like two hundred<00:28:18.860> thousand<00:28:19.340> and<00:28:19.520> maybe<00:28:19.880> more 00:28:20.080 --> 00:28:20.090 align:start position:0% hundred thousand and maybe more 00:28:20.090 --> 00:28:22.289 align:start position:0% hundred thousand and maybe more depending<00:28:20.870> on<00:28:21.260> your<00:28:21.320> proof<00:28:21.799> size 00:28:22.289 --> 00:28:22.299 align:start position:0% depending on your proof size 00:28:22.299 --> 00:28:24.159 align:start position:0% depending on your proof size alternatively<00:28:23.299> what<00:28:23.630> you<00:28:23.720> can<00:28:23.840> do<00:28:23.929> is<00:28:24.049> that 00:28:24.159 --> 00:28:24.169 align:start position:0% alternatively what you can do is that 00:28:24.169 --> 00:28:26.260 align:start position:0% alternatively what you can do is that you<00:28:24.260> can<00:28:24.350> assume<00:28:24.770> that<00:28:25.070> the<00:28:25.370> exit<00:28:25.669> will<00:28:26.240> be 00:28:26.260 --> 00:28:26.270 align:start position:0% you can assume that the exit will be 00:28:26.270 --> 00:28:29.169 align:start position:0% you can assume that the exit will be valid<00:28:26.780> and<00:28:27.049> admin<00:28:27.950> on<00:28:28.250> one<00:28:28.610> more<00:28:28.760> challenge 00:28:29.169 --> 00:28:29.179 align:start position:0% valid and admin on one more challenge 00:28:29.179 --> 00:28:31.510 align:start position:0% valid and admin on one more challenge they<00:28:29.330> equipped<00:28:29.570> economic<00:28:30.110> approach<00:28:30.770> which<00:28:31.370> is 00:28:31.510 --> 00:28:31.520 align:start position:0% they equipped economic approach which is 00:28:31.520 --> 00:28:32.980 align:start position:0% they equipped economic approach which is it's<00:28:31.940> nice<00:28:32.150> because<00:28:32.419> like<00:28:32.750> you<00:28:32.870> can 00:28:32.980 --> 00:28:32.990 align:start position:0% it's nice because like you can 00:28:32.990 --> 00:28:34.480 align:start position:0% it's nice because like you can essentially<00:28:33.380> reduce<00:28:33.740> the<00:28:33.860> cost<00:28:34.039> of<00:28:34.159> an<00:28:34.250> exit 00:28:34.480 --> 00:28:34.490 align:start position:0% essentially reduce the cost of an exit 00:28:34.490 --> 00:28:36.250 align:start position:0% essentially reduce the cost of an exit like<00:28:34.640> 60k<00:28:35.090> gas<00:28:35.330> like<00:28:35.510> for<00:28:35.780> to<00:28:35.960> store 00:28:36.250 --> 00:28:36.260 align:start position:0% like 60k gas like for to store 00:28:36.260 --> 00:28:40.240 align:start position:0% like 60k gas like for to store operations<00:28:36.740> but<00:28:38.200> you<00:28:39.200> you<00:28:39.530> you<00:28:39.860> are<00:28:39.950> denial 00:28:40.240 --> 00:28:40.250 align:start position:0% operations but you you you are denial 00:28:40.250 --> 00:28:45.220 align:start position:0% operations but you you you are denial challenge<00:28:40.640> and<00:28:40.820> yeah<00:28:43.390> some<00:28:44.390> the<00:28:44.900> final 00:28:45.220 --> 00:28:45.230 align:start position:0% challenge and yeah some the final 00:28:45.230 --> 00:28:47.799 align:start position:0% challenge and yeah some the final takeaway<00:28:45.409> from<00:28:45.650> this<00:28:46.070> presentation<00:28:46.809> the 00:28:47.799 --> 00:28:47.809 align:start position:0% takeaway from this presentation the 00:28:47.809 --> 00:28:50.380 align:start position:0% takeaway from this presentation the technical<00:28:48.230> stuff<00:28:48.409> it's<00:28:48.860> it's<00:28:49.760> all<00:28:50.000> it<00:28:50.149> like 00:28:50.380 --> 00:28:50.390 align:start position:0% technical stuff it's it's all it like 00:28:50.390 --> 00:28:51.669 align:start position:0% technical stuff it's it's all it like you<00:28:50.659> should<00:28:50.809> look<00:28:50.929> into<00:28:51.140> it<00:28:51.230> it's<00:28:51.500> not 00:28:51.669 --> 00:28:51.679 align:start position:0% you should look into it it's not 00:28:51.679 --> 00:28:52.659 align:start position:0% you should look into it it's not complicate 00:28:52.659 --> 00:28:52.669 align:start position:0% complicate 00:28:52.669 --> 00:28:54.909 align:start position:0% complicate and<00:28:52.789> talk<00:28:53.360> to<00:28:53.480> me<00:28:53.570> for<00:28:53.809> learning<00:28:54.440> about<00:28:54.500> it 00:28:54.909 --> 00:28:54.919 align:start position:0% and talk to me for learning about it 00:28:54.919 --> 00:28:57.130 align:start position:0% and talk to me for learning about it plasma<00:28:55.820> doesn't<00:28:56.090> improve<00:28:56.270> finality<00:28:56.600> so<00:28:56.960> this 00:28:57.130 --> 00:28:57.140 align:start position:0% plasma doesn't improve finality so this 00:28:57.140 --> 00:28:59.019 align:start position:0% plasma doesn't improve finality so this called<00:28:57.320> 1<00:28:57.500> million<00:28:57.799> is<00:28:57.919> actually<00:28:58.070> per<00:28:58.669> second 00:28:59.019 --> 00:28:59.029 align:start position:0% called 1 million is actually per second 00:28:59.029 --> 00:29:01.240 align:start position:0% called 1 million is actually per second dream<00:28:59.450> it's<00:28:59.809> it's<00:29:00.230> not<00:29:00.380> real<00:29:00.590> what<00:29:00.890> you<00:29:00.980> do<00:29:01.130> is 00:29:01.240 --> 00:29:01.250 align:start position:0% dream it's it's not real what you do is 00:29:01.250 --> 00:29:03.310 align:start position:0% dream it's it's not real what you do is that<00:29:01.279> you<00:29:01.429> increase<00:29:02.299> the<00:29:02.539> capacity<00:29:03.080> that<00:29:03.169> you 00:29:03.310 --> 00:29:03.320 align:start position:0% that you increase the capacity that you 00:29:03.320 --> 00:29:05.649 align:start position:0% that you increase the capacity that you can<00:29:03.440> for<00:29:03.650> spare<00:29:04.309> 15<00:29:04.640> seconds<00:29:05.090> because 00:29:05.649 --> 00:29:05.659 align:start position:0% can for spare 15 seconds because 00:29:05.659 --> 00:29:07.120 align:start position:0% can for spare 15 seconds because currently<00:29:06.140> if<00:29:06.200> everyone<00:29:06.590> can<00:29:06.679> handle<00:29:06.980> like 00:29:07.120 --> 00:29:07.130 align:start position:0% currently if everyone can handle like 00:29:07.130 --> 00:29:09.130 align:start position:0% currently if everyone can handle like was<00:29:07.520> it<00:29:07.640> like<00:29:07.669> 9<00:29:07.970> million<00:29:08.179> gas<00:29:08.480> per<00:29:08.720> block<00:29:08.929> or 00:29:09.130 --> 00:29:09.140 align:start position:0% was it like 9 million gas per block or 00:29:09.140 --> 00:29:12.250 align:start position:0% was it like 9 million gas per block or eight<00:29:09.320> what<00:29:10.279> you<00:29:10.370> do<00:29:10.490> is<00:29:10.610> that<00:29:10.640> you<00:29:11.049> can<00:29:12.049> put 00:29:12.250 --> 00:29:12.260 align:start position:0% eight what you do is that you can put 00:29:12.260 --> 00:29:13.720 align:start position:0% eight what you do is that you can put the<00:29:12.470> whole<00:29:12.650> information<00:29:12.950> that<00:29:13.400> happened<00:29:13.669> on 00:29:13.720 --> 00:29:13.730 align:start position:0% the whole information that happened on 00:29:13.730 --> 00:29:15.880 align:start position:0% the whole information that happened on the<00:29:13.820> plasma<00:29:13.970> chain<00:29:14.270> in<00:29:14.419> 32<00:29:14.900> bytes<00:29:15.110> and<00:29:15.529> storing 00:29:15.880 --> 00:29:15.890 align:start position:0% the plasma chain in 32 bytes and storing 00:29:15.890 --> 00:29:18.070 align:start position:0% the plasma chain in 32 bytes and storing 32<00:29:16.220> bytes<00:29:16.400> it's<00:29:16.669> cheap<00:29:16.880> so<00:29:17.150> if<00:29:17.630> we<00:29:17.750> have<00:29:17.929> like 00:29:18.070 --> 00:29:18.080 align:start position:0% 32 bytes it's cheap so if we have like 00:29:18.080 --> 00:29:19.930 align:start position:0% 32 bytes it's cheap so if we have like multiple<00:29:18.590> plasma<00:29:19.039> chains<00:29:19.279> yeah<00:29:19.460> oh<00:29:19.669> yeah<00:29:19.820> the 00:29:19.930 --> 00:29:19.940 align:start position:0% multiple plasma chains yeah oh yeah the 00:29:19.940 --> 00:29:21.250 align:start position:0% multiple plasma chains yeah oh yeah the scale<00:29:20.090> a<00:29:20.120> build<00:29:20.360> it<00:29:20.510> can<00:29:20.720> be<00:29:20.870> 1<00:29:21.080> million 00:29:21.250 --> 00:29:21.260 align:start position:0% scale a build it can be 1 million 00:29:21.260 --> 00:29:23.380 align:start position:0% scale a build it can be 1 million transactions<00:29:21.830> a<00:29:21.919> second<00:29:22.279> but<00:29:22.730> still<00:29:23.029> settles 00:29:23.380 --> 00:29:23.390 align:start position:0% transactions a second but still settles 00:29:23.390 --> 00:29:26.110 align:start position:0% transactions a second but still settles every<00:29:23.690> 15<00:29:23.990> seconds<00:29:24.380> if<00:29:24.950> the<00:29:25.429> data<00:29:25.640> is<00:29:25.970> made 00:29:26.110 --> 00:29:26.120 align:start position:0% every 15 seconds if the data is made 00:29:26.120 --> 00:29:28.539 align:start position:0% every 15 seconds if the data is made available<00:29:26.149> and<00:29:26.809> yeah<00:29:27.740> essentially<00:29:28.279> just 00:29:28.539 --> 00:29:28.549 align:start position:0% available and yeah essentially just 00:29:28.549 --> 00:29:30.760 align:start position:0% available and yeah essentially just think<00:29:28.820> of<00:29:28.909> it<00:29:28.970> as<00:29:29.149> a<00:29:29.179> compression<00:29:29.770> literally 00:29:30.760 --> 00:29:30.770 align:start position:0% think of it as a compression literally 00:29:30.770 --> 00:29:32.500 align:start position:0% think of it as a compression literally maybe<00:29:31.190> not<00:29:31.429> because<00:29:31.760> you<00:29:31.940> assume<00:29:32.299> at<00:29:32.419> the 00:29:32.500 --> 00:29:32.510 align:start position:0% maybe not because you assume at the 00:29:32.510 --> 00:29:33.700 align:start position:0% maybe not because you assume at the compression<00:29:32.899> mechanism<00:29:33.350> but<00:29:33.470> the<00:29:33.559> thing<00:29:33.679> is 00:29:33.700 --> 00:29:33.710 align:start position:0% compression mechanism but the thing is 00:29:33.710 --> 00:29:35.169 align:start position:0% compression mechanism but the thing is that<00:29:33.830> you<00:29:33.980> just<00:29:34.010> take<00:29:34.309> everything<00:29:34.700> you<00:29:35.029> put 00:29:35.169 --> 00:29:35.179 align:start position:0% that you just take everything you put 00:29:35.179 --> 00:29:37.029 align:start position:0% that you just take everything you put very<00:29:35.450> little<00:29:35.480> later<00:29:35.870> on<00:29:35.960> it<00:29:36.230> and<00:29:36.380> if<00:29:36.860> you 00:29:37.029 --> 00:29:37.039 align:start position:0% very little later on it and if you 00:29:37.039 --> 00:29:38.380 align:start position:0% very little later on it and if you follow<00:29:37.279> some<00:29:37.399> certain<00:29:37.909> rules<00:29:38.149> of<00:29:38.270> the 00:29:38.380 --> 00:29:38.390 align:start position:0% follow some certain rules of the 00:29:38.390 --> 00:29:40.720 align:start position:0% follow some certain rules of the protocol<00:29:38.809> like<00:29:39.260> watching<00:29:39.710> your<00:29:40.340> good 00:29:40.720 --> 00:29:40.730 align:start position:0% protocol like watching your good 00:29:40.730 --> 00:29:43.710 align:start position:0% protocol like watching your good and<00:29:40.850> yeah<00:29:41.750> it's<00:29:41.870> a<00:29:41.929> noncustodial<00:29:42.260> sidechain 00:29:43.710 --> 00:29:43.720 align:start position:0% and yeah it's a noncustodial sidechain 00:29:43.720 --> 00:29:45.669 align:start position:0% and yeah it's a noncustodial sidechain thank<00:29:44.720> you<00:29:44.779> very<00:29:44.870> much<00:29:45.020> and<00:29:45.230> these<00:29:45.380> are<00:29:45.529> the 00:29:45.669 --> 00:29:45.679 align:start position:0% thank you very much and these are the 00:29:45.679 --> 00:29:48.220 align:start position:0% thank you very much and these are the repositories<00:29:46.370> go<00:29:46.700> check<00:29:46.940> them<00:29:47.090> break<00:29:47.390> it<00:29:47.570> if 00:29:48.220 --> 00:29:48.230 align:start position:0% repositories go check them break it if 00:29:48.230 --> 00:29:51.399 align:start position:0% repositories go check them break it if you<00:29:48.440> can<00:29:48.649> yeah<00:29:49.270> yeah<00:29:50.270> and<00:29:50.570> have<00:29:50.960> it<00:29:51.080> take<00:29:51.230> any 00:29:51.399 --> 00:29:51.409 align:start position:0% you can yeah yeah and have it take any 00:29:51.409 --> 00:29:59.160 align:start position:0% you can yeah yeah and have it take any questions 00:29:59.160 --> 00:29:59.170 align:start position:0% 00:29:59.170 --> 00:30:07.080 align:start position:0% maybe<00:30:00.170> is<00:30:00.470> their<00:30:00.620> microphone 00:30:07.080 --> 00:30:07.090 align:start position:0% 00:30:07.090 --> 00:30:08.950 align:start position:0% thank<00:30:08.090> you<00:30:08.150> for<00:30:08.270> your<00:30:08.390> talk 00:30:08.950 --> 00:30:08.960 align:start position:0% thank you for your talk 00:30:08.960 --> 00:30:11.890 align:start position:0% thank you for your talk what's<00:30:09.830> the<00:30:10.220> problem<00:30:10.520> with<00:30:10.760> allowing<00:30:11.180> atomic 00:30:11.890 --> 00:30:11.900 align:start position:0% what's the problem with allowing atomic 00:30:11.900 --> 00:30:13.750 align:start position:0% what's the problem with allowing atomic multiple<00:30:12.560> transactions<00:30:13.340> to<00:30:13.400> be<00:30:13.430> atomic 00:30:13.750 --> 00:30:13.760 align:start position:0% multiple transactions to be atomic 00:30:13.760 --> 00:30:15.580 align:start position:0% multiple transactions to be atomic within<00:30:14.120> one<00:30:14.270> plasma<00:30:14.600> block<00:30:14.780> because<00:30:15.230> you 00:30:15.580 --> 00:30:15.590 align:start position:0% within one plasma block because you 00:30:15.590 --> 00:30:17.020 align:start position:0% within one plasma block because you cannot<00:30:15.830> force<00:30:16.100> the<00:30:16.220> operator<00:30:16.520> to<00:30:16.760> include 00:30:17.020 --> 00:30:17.030 align:start position:0% cannot force the operator to include 00:30:17.030 --> 00:30:18.880 align:start position:0% cannot force the operator to include both<00:30:17.150> so<00:30:17.840> what<00:30:18.020> you<00:30:18.140> can<00:30:18.290> do<00:30:18.410> is<00:30:18.530> that<00:30:18.620> you<00:30:18.680> can 00:30:18.880 --> 00:30:18.890 align:start position:0% both so what you can do is that you can 00:30:18.890 --> 00:30:21.940 align:start position:0% both so what you can do is that you can construct<00:30:19.160> a<00:30:19.640> game<00:30:20.350> where<00:30:21.350> one<00:30:21.560> transaction 00:30:21.940 --> 00:30:21.950 align:start position:0% construct a game where one transaction 00:30:21.950 --> 00:30:24.040 align:start position:0% construct a game where one transaction is<00:30:22.280> depend<00:30:22.670> what<00:30:22.910> you<00:30:23.030> want<00:30:23.210> in<00:30:23.420> atomic<00:30:23.720> swaps 00:30:24.040 --> 00:30:24.050 align:start position:0% is depend what you want in atomic swaps 00:30:24.050 --> 00:30:26.710 align:start position:0% is depend what you want in atomic swaps is<00:30:24.440> that<00:30:24.620> atomic<00:30:25.400> is<00:30:25.490> a<00:30:25.550> bad<00:30:25.670> word<00:30:25.820> actually<00:30:26.360> so 00:30:26.710 --> 00:30:26.720 align:start position:0% is that atomic is a bad word actually so 00:30:26.720 --> 00:30:28.690 align:start position:0% is that atomic is a bad word actually so like<00:30:26.870> either<00:30:27.170> both<00:30:27.590> happen<00:30:27.950> or<00:30:28.100> none<00:30:28.310> happen 00:30:28.690 --> 00:30:28.700 align:start position:0% like either both happen or none happen 00:30:28.700 --> 00:30:31.090 align:start position:0% like either both happen or none happen right<00:30:29.150> so<00:30:29.210> this<00:30:29.750> matches<00:30:30.020> your<00:30:30.290> exchange<00:30:30.860> use 00:30:31.090 --> 00:30:31.100 align:start position:0% right so this matches your exchange use 00:30:31.100 --> 00:30:34.180 align:start position:0% right so this matches your exchange use case<00:30:31.250> I<00:30:31.370> guess<00:30:31.520> so<00:30:32.410> the<00:30:33.410> operator<00:30:33.770> you<00:30:33.980> need<00:30:34.130> to 00:30:34.180 --> 00:30:34.190 align:start position:0% case I guess so the operator you need to 00:30:34.190 --> 00:30:35.650 align:start position:0% case I guess so the operator you need to force<00:30:34.430> them<00:30:34.610> if<00:30:34.790> they<00:30:35.180> include<00:30:35.480> one 00:30:35.650 --> 00:30:35.660 align:start position:0% force them if they include one 00:30:35.660 --> 00:30:37.810 align:start position:0% force them if they include one transaction<00:30:36.200> but<00:30:36.830> either<00:30:37.010> they<00:30:37.340> must<00:30:37.550> include 00:30:37.810 --> 00:30:37.820 align:start position:0% transaction but either they must include 00:30:37.820 --> 00:30:39.790 align:start position:0% transaction but either they must include the<00:30:37.970> other<00:30:38.090> one<00:30:38.330> or<00:30:38.510> if<00:30:39.050> they<00:30:39.200> include<00:30:39.500> the<00:30:39.620> one 00:30:39.790 --> 00:30:39.800 align:start position:0% the other one or if they include the one 00:30:39.800 --> 00:30:41.110 align:start position:0% the other one or if they include the one and<00:30:39.980> they<00:30:40.100> don't<00:30:40.250> include<00:30:40.580> the<00:30:40.760> other<00:30:40.910> one 00:30:41.110 --> 00:30:41.120 align:start position:0% and they don't include the other one 00:30:41.120 --> 00:30:43.990 align:start position:0% and they don't include the other one that<00:30:41.540> one<00:30:41.840> is<00:30:42.080> invalid<00:30:42.800> right<00:30:43.460> and<00:30:43.670> you<00:30:43.760> can<00:30:43.910> do 00:30:43.990 --> 00:30:44.000 align:start position:0% that one is invalid right and you can do 00:30:44.000 --> 00:30:45.610 align:start position:0% that one is invalid right and you can do this<00:30:44.180> by<00:30:44.300> essentially<00:30:44.750> like<00:30:45.020> doing<00:30:45.350> a<00:30:45.440> two 00:30:45.610 --> 00:30:45.620 align:start position:0% this by essentially like doing a two 00:30:45.620 --> 00:30:48.160 align:start position:0% this by essentially like doing a two step<00:30:45.830> game<00:30:46.130> we<00:30:46.760> just<00:30:47.060> like<00:30:47.390> similar<00:30:47.960> in<00:30:48.050> the 00:30:48.160 --> 00:30:48.170 align:start position:0% step game we just like similar in the 00:30:48.170 --> 00:30:50.080 align:start position:0% step game we just like similar in the classic<00:30:48.620> atomic<00:30:48.920> swap<00:30:49.130> construction<00:30:49.670> between 00:30:50.080 --> 00:30:50.090 align:start position:0% classic atomic swap construction between 00:30:50.090 --> 00:30:51.970 align:start position:0% classic atomic swap construction between chains<00:30:50.390> you<00:30:50.780> just<00:30:51.020> you<00:30:51.290> commit<00:30:51.620> to<00:30:51.710> a<00:30:51.740> pretty 00:30:51.970 --> 00:30:51.980 align:start position:0% chains you just you commit to a pretty 00:30:51.980 --> 00:30:53.260 align:start position:0% chains you just you commit to a pretty much<00:30:52.130> and<00:30:52.310> you<00:30:52.370> give<00:30:52.580> the<00:30:52.700> pre-much<00:30:53.030> to<00:30:53.180> each 00:30:53.260 --> 00:30:53.270 align:start position:0% much and you give the pre-much to each 00:30:53.270 --> 00:30:57.190 align:start position:0% much and you give the pre-much to each other<00:30:53.450> in<00:30:53.570> here<00:30:53.750> evil<00:30:54.110> but<00:30:55.360> yeah<00:30:56.360> maybe<00:30:56.900> Karl 00:30:57.190 --> 00:30:57.200 align:start position:0% other in here evil but yeah maybe Karl 00:30:57.200 --> 00:30:58.780 align:start position:0% other in here evil but yeah maybe Karl is<00:30:57.350> better<00:30:57.530> to<00:30:57.680> asked<00:30:57.920> like<00:30:58.100> in<00:30:58.280> depth<00:30:58.520> on<00:30:58.730> how 00:30:58.780 --> 00:30:58.790 align:start position:0% is better to asked like in depth on how 00:30:58.790 --> 00:31:01.090 align:start position:0% is better to asked like in depth on how their<00:30:59.240> atomic<00:30:59.570> swap<00:30:59.840> works<00:31:00.080> because<00:31:00.950> I 00:31:01.090 --> 00:31:01.100 align:start position:0% their atomic swap works because I 00:31:01.100 --> 00:31:02.740 align:start position:0% their atomic swap works because I haven't<00:31:01.340> been<00:31:01.490> looking<00:31:01.670> the<00:31:01.940> prime<00:31:02.240> how<00:31:02.480> they 00:31:02.740 --> 00:31:02.750 align:start position:0% haven't been looking the prime how they 00:31:02.750 --> 00:31:07.500 align:start position:0% haven't been looking the prime how they how<00:31:03.110> it's<00:31:03.260> being<00:31:03.410> done<00:31:04.960> quick<00:31:05.960> if<00:31:06.140> it's<00:31:06.290> quick 00:31:07.500 --> 00:31:07.510 align:start position:0% how it's being done quick if it's quick 00:31:07.510 --> 00:31:10.750 align:start position:0% how it's being done quick if it's quick I'm<00:31:08.510> from<00:31:08.780> data<00:31:09.470> exchange<00:31:09.770> protocol<00:31:10.190> and<00:31:10.550> we 00:31:10.750 --> 00:31:10.760 align:start position:0% I'm from data exchange protocol and we 00:31:10.760 --> 00:31:12.370 align:start position:0% I'm from data exchange protocol and we were<00:31:10.880> trying<00:31:11.090> to<00:31:11.270> enable<00:31:11.420> micro<00:31:11.960> payments 00:31:12.370 --> 00:31:12.380 align:start position:0% were trying to enable micro payments 00:31:12.380 --> 00:31:14.890 align:start position:0% were trying to enable micro payments using<00:31:12.680> plasma<00:31:12.890> cash<00:31:13.310> and<00:31:13.580> milli<00:31:13.730> the<00:31:13.850> POC<00:31:14.090> so 00:31:14.890 --> 00:31:14.900 align:start position:0% using plasma cash and milli the POC so 00:31:14.900 --> 00:31:16.180 align:start position:0% using plasma cash and milli the POC so we<00:31:15.140> came<00:31:15.320> up<00:31:15.410> with<00:31:15.500> episode<00:31:15.800> but<00:31:15.920> I<00:31:15.950> want<00:31:16.130> to 00:31:16.180 --> 00:31:16.190 align:start position:0% we came up with episode but I want to 00:31:16.190 --> 00:31:17.620 align:start position:0% we came up with episode but I want to know<00:31:16.280> your<00:31:16.460> thoughts<00:31:16.490> how<00:31:17.240> do<00:31:17.300> you<00:31:17.450> think 00:31:17.620 --> 00:31:17.630 align:start position:0% know your thoughts how do you think 00:31:17.630 --> 00:31:19.510 align:start position:0% know your thoughts how do you think micro<00:31:17.990> payments<00:31:18.350> can<00:31:18.440> be<00:31:18.500> neighborhood<00:31:18.980> using 00:31:19.510 --> 00:31:19.520 align:start position:0% micro payments can be neighborhood using 00:31:19.520 --> 00:31:21.310 align:start position:0% micro payments can be neighborhood using wise<00:31:19.970> don't<00:31:20.180> you<00:31:20.360> want<00:31:20.540> to<00:31:20.600> use<00:31:20.660> the<00:31:20.990> payment 00:31:21.310 --> 00:31:21.320 align:start position:0% wise don't you want to use the payment 00:31:21.320 --> 00:31:25.090 align:start position:0% wise don't you want to use the payment seventh<00:31:22.120> question<00:31:23.800> you<00:31:24.800> have<00:31:24.950> the 00:31:25.090 --> 00:31:25.100 align:start position:0% seventh question you have the 00:31:25.100 --> 00:31:26.590 align:start position:0% seventh question you have the engineering<00:31:25.460> toolkit<00:31:25.940> and<00:31:26.120> you<00:31:26.210> need<00:31:26.360> to<00:31:26.450> use 00:31:26.590 --> 00:31:26.600 align:start position:0% engineering toolkit and you need to use 00:31:26.600 --> 00:31:27.670 align:start position:0% engineering toolkit and you need to use the<00:31:26.690> right<00:31:26.840> tool<00:31:27.020> I<00:31:27.170> do<00:31:27.230> not<00:31:27.410> believe<00:31:27.590> that 00:31:27.670 --> 00:31:27.680 align:start position:0% the right tool I do not believe that 00:31:27.680 --> 00:31:36.940 align:start position:0% the right tool I do not believe that plasma<00:31:28.100> is<00:31:28.130> a<00:31:28.220> right<00:31:28.370> to<00:31:29.020> you<00:31:30.020> know<00:31:35.290> I<00:31:36.290> think 00:31:36.940 --> 00:31:36.950 align:start position:0% plasma is a right to you know I think 00:31:36.950 --> 00:31:38.920 align:start position:0% plasma is a right to you know I think Georgio's<00:31:37.490> needs<00:31:37.730> a<00:31:37.820> lot<00:31:38.150> more<00:31:38.180> credit<00:31:38.750> for 00:31:38.920 --> 00:31:38.930 align:start position:0% Georgio's needs a lot more credit for 00:31:38.930 --> 00:31:40.750 align:start position:0% Georgio's needs a lot more credit for actually<00:31:39.080> implementing<00:31:40.010> plasma<00:31:40.370> cash<00:31:40.550> which 00:31:40.750 --> 00:31:40.760 align:start position:0% actually implementing plasma cash which 00:31:40.760 --> 00:31:42.220 align:start position:0% actually implementing plasma cash which is<00:31:40.880> pretty<00:31:41.090> amazing<00:31:41.450> so<00:31:41.570> thank<00:31:41.810> you<00:31:41.900> George 00:31:42.220 --> 00:31:42.230 align:start position:0% is pretty amazing so thank you George 00:31:42.230 --> 00:31:42.700 align:start position:0% is pretty amazing so thank you George yours 00:31:42.700 --> 00:31:42.710 align:start position:0% yours 00:31:42.710 --> 00:31:51.990 align:start position:0% yours [Applause] 00:31:51.990 --> 00:31:52.000 align:start position:0% 00:31:52.000 --> 00:31:54.060 align:start position:0% you