WEBVTT Kind: captions Language: en 00:00:04.440 --> 00:00:07.250 align:start position:0% okay<00:00:05.190> good<00:00:05.340> morning<00:00:05.370> everyone<00:00:05.940> now<00:00:06.930> everyone 00:00:07.250 --> 00:00:07.260 align:start position:0% okay good morning everyone now everyone 00:00:07.260 --> 00:00:09.680 align:start position:0% okay good morning everyone now everyone can<00:00:07.319> definitely<00:00:07.800> hear<00:00:07.860> me<00:00:08.330> let's<00:00:09.330> see<00:00:09.480> if<00:00:09.630> I 00:00:09.680 --> 00:00:09.690 align:start position:0% can definitely hear me let's see if I 00:00:09.690 --> 00:00:12.620 align:start position:0% can definitely hear me let's see if I can<00:00:09.930> okay<00:00:10.320> here<00:00:10.530> we<00:00:10.590> go<00:00:10.620> okay<00:00:10.830> yeah<00:00:11.219> so<00:00:11.490> I<00:00:12.180> know 00:00:12.620 --> 00:00:12.630 align:start position:0% can okay here we go okay yeah so I know 00:00:12.630 --> 00:00:16.940 align:start position:0% can okay here we go okay yeah so I know the<00:00:12.690> gadget<00:00:12.980> will<00:00:13.980> be<00:00:15.800> okay 00:00:16.940 --> 00:00:16.950 align:start position:0% the gadget will be okay 00:00:16.950 --> 00:00:19.130 align:start position:0% the gadget will be okay yeah<00:00:17.130> so<00:00:17.369> the<00:00:18.119> finale<00:00:18.360> gadgets<00:00:18.750> and<00:00:18.869> research 00:00:19.130 --> 00:00:19.140 align:start position:0% yeah so the finale gadgets and research 00:00:19.140 --> 00:00:21.589 align:start position:0% yeah so the finale gadgets and research we've<00:00:19.349> been<00:00:19.439> looking<00:00:19.650> into<00:00:19.890> to<00:00:20.250> use<00:00:21.090> the 00:00:21.589 --> 00:00:21.599 align:start position:0% we've been looking into to use the 00:00:21.599 --> 00:00:23.780 align:start position:0% we've been looking into to use the beacon<00:00:21.900> chain<00:00:22.110> from<00:00:22.590> eath<00:00:22.739> 2.0<00:00:23.279> to<00:00:23.550> enhance 00:00:23.780 --> 00:00:23.790 align:start position:0% beacon chain from eath 2.0 to enhance 00:00:23.790 --> 00:00:27.319 align:start position:0% beacon chain from eath 2.0 to enhance the<00:00:23.910> security<00:00:24.029> of<00:00:24.390> the<00:00:25.169> thwa<00:00:25.500> net<00:00:25.710> chain<00:00:26.329> so 00:00:27.319 --> 00:00:27.329 align:start position:0% the security of the thwa net chain so 00:00:27.329 --> 00:00:30.560 align:start position:0% the security of the thwa net chain so here<00:00:27.779> I<00:00:27.810> will<00:00:28.200> explain<00:00:28.950> what<00:00:29.189> it<00:00:29.399> is<00:00:29.610> you<00:00:30.419> might 00:00:30.560 --> 00:00:30.570 align:start position:0% here I will explain what it is you might 00:00:30.570 --> 00:00:31.550 align:start position:0% here I will explain what it is you might have<00:00:30.660> heard<00:00:30.840> of<00:00:30.899> it<00:00:31.050> in<00:00:31.140> like<00:00:31.290> a<00:00:31.320> lot<00:00:31.470> of 00:00:31.550 --> 00:00:31.560 align:start position:0% have heard of it in like a lot of 00:00:31.560 --> 00:00:33.260 align:start position:0% have heard of it in like a lot of different<00:00:31.770> contexts<00:00:32.279> so<00:00:32.550> we'll<00:00:32.970> just<00:00:33.120> kind<00:00:33.239> of 00:00:33.260 --> 00:00:33.270 align:start position:0% different contexts so we'll just kind of 00:00:33.270 --> 00:00:35.870 align:start position:0% different contexts so we'll just kind of go<00:00:33.329> through<00:00:33.570> it<00:00:33.800> I'll<00:00:34.800> try<00:00:35.070> and<00:00:35.250> show<00:00:35.430> you<00:00:35.640> why 00:00:35.870 --> 00:00:35.880 align:start position:0% go through it I'll try and show you why 00:00:35.880 --> 00:00:37.550 align:start position:0% go through it I'll try and show you why we<00:00:36.030> want<00:00:36.210> it<00:00:36.329> hopefully<00:00:36.720> there's<00:00:37.140> like<00:00:37.320> some 00:00:37.550 --> 00:00:37.560 align:start position:0% we want it hopefully there's like some 00:00:37.560 --> 00:00:40.400 align:start position:0% we want it hopefully there's like some fun<00:00:37.800> reasons<00:00:38.810> then<00:00:39.810> we'll<00:00:39.930> talk<00:00:40.080> quickly 00:00:40.400 --> 00:00:40.410 align:start position:0% fun reasons then we'll talk quickly 00:00:40.410 --> 00:00:43.850 align:start position:0% fun reasons then we'll talk quickly about<00:00:40.560> how<00:00:40.890> we<00:00:40.950> get<00:00:41.220> it<00:00:41.600> and<00:00:42.600> yeah<00:00:43.470> then<00:00:43.770> we'll 00:00:43.850 --> 00:00:43.860 align:start position:0% about how we get it and yeah then we'll 00:00:43.860 --> 00:00:48.320 align:start position:0% about how we get it and yeah then we'll wrap<00:00:44.010> up<00:00:44.070> by<00:00:44.550> seeing<00:00:45.030> how<00:00:45.120> you<00:00:45.180> can<00:00:45.360> help<00:00:47.330> so 00:00:48.320 --> 00:00:48.330 align:start position:0% wrap up by seeing how you can help so 00:00:48.330 --> 00:00:50.450 align:start position:0% wrap up by seeing how you can help so yeah<00:00:48.630> this<00:00:48.840> is<00:00:48.900> like<00:00:49.140> super<00:00:49.350> high<00:00:49.590> level<00:00:49.620> TLDR 00:00:50.450 --> 00:00:50.460 align:start position:0% yeah this is like super high level TLDR 00:00:50.460 --> 00:00:53.330 align:start position:0% yeah this is like super high level TLDR like<00:00:51.450> like<00:00:51.720> I<00:00:51.840> said<00:00:52.020> using<00:00:52.440> the<00:00:52.470> purpose<00:00:53.160> take 00:00:53.330 --> 00:00:53.340 align:start position:0% like like I said using the purpose take 00:00:53.340 --> 00:00:56.000 align:start position:0% like like I said using the purpose take beacon<00:00:53.730> chain<00:00:53.910> from<00:00:54.180> eighth<00:00:54.270> to<00:00:54.510> O<00:00:54.540> to<00:00:55.230> enhance 00:00:56.000 --> 00:00:56.010 align:start position:0% beacon chain from eighth to O to enhance 00:00:56.010 --> 00:00:57.680 align:start position:0% beacon chain from eighth to O to enhance the<00:00:56.100> security<00:00:56.340> of<00:00:56.550> the<00:00:57.060> pre-work<00:00:57.420> chain<00:00:57.570> we 00:00:57.680 --> 00:00:57.690 align:start position:0% the security of the pre-work chain we 00:00:57.690 --> 00:01:00.590 align:start position:0% the security of the pre-work chain we have<00:00:57.840> today<00:00:58.730> so<00:00:59.730> you're<00:00:59.880> like<00:01:00.030> well<00:01:00.270> what's 00:01:00.590 --> 00:01:00.600 align:start position:0% have today so you're like well what's 00:01:00.600 --> 00:01:03.170 align:start position:0% have today so you're like well what's going<00:01:00.960> on<00:01:01.110> there's<00:01:01.670> now<00:01:02.670> there's<00:01:02.820> more<00:01:02.970> block 00:01:03.170 --> 00:01:03.180 align:start position:0% going on there's now there's more block 00:01:03.180 --> 00:01:06.140 align:start position:0% going on there's now there's more block chains<00:01:03.450> like<00:01:03.840> how<00:01:04.019> does<00:01:04.140> this<00:01:04.229> work<00:01:05.150> here's 00:01:06.140 --> 00:01:06.150 align:start position:0% chains like how does this work here's 00:01:06.150 --> 00:01:08.620 align:start position:0% chains like how does this work here's this<00:01:06.270> little<00:01:06.509> picture<00:01:06.720> so<00:01:07.590> again<00:01:07.950> because 00:01:08.620 --> 00:01:08.630 align:start position:0% this little picture so again because 00:01:08.630 --> 00:01:10.940 align:start position:0% this little picture so again because this<00:01:09.630> is<00:01:09.929> gonna<00:01:10.140> like<00:01:10.380> couple<00:01:10.710> these<00:01:10.799> two 00:01:10.940 --> 00:01:10.950 align:start position:0% this is gonna like couple these two 00:01:10.950 --> 00:01:13.429 align:start position:0% this is gonna like couple these two systems<00:01:11.249> together<00:01:12.049> there's<00:01:13.049> like<00:01:13.259> a<00:01:13.289> lot 00:01:13.429 --> 00:01:13.439 align:start position:0% systems together there's like a lot 00:01:13.439 --> 00:01:15.770 align:start position:0% systems together there's like a lot going<00:01:13.710> on<00:01:13.829> so<00:01:14.130> I<00:01:14.789> try<00:01:15.060> to<00:01:15.090> be<00:01:15.270> clear<00:01:15.479> like 00:01:15.770 --> 00:01:15.780 align:start position:0% going on so I try to be clear like 00:01:15.780 --> 00:01:17.569 align:start position:0% going on so I try to be clear like there's<00:01:16.229> this<00:01:16.439> 100<00:01:16.799> block<00:01:16.979> chain<00:01:17.219> right<00:01:17.399> so 00:01:17.569 --> 00:01:17.579 align:start position:0% there's this 100 block chain right so 00:01:17.579 --> 00:01:18.859 align:start position:0% there's this 100 block chain right so this<00:01:17.640> is<00:01:17.729> like<00:01:17.819> the<00:01:18.030> perfora<00:01:18.420> chain<00:01:18.600> we<00:01:18.719> have 00:01:18.859 --> 00:01:18.869 align:start position:0% this is like the perfora chain we have 00:01:18.869 --> 00:01:21.649 align:start position:0% this is like the perfora chain we have there's<00:01:19.829> a<00:01:20.100> -<00:01:20.249> a<00:01:20.280> beacon<00:01:20.789> chain<00:01:21.030> and<00:01:21.359> I'll 00:01:21.649 --> 00:01:21.659 align:start position:0% there's a - a beacon chain and I'll 00:01:21.659 --> 00:01:22.609 align:start position:0% there's a - a beacon chain and I'll explain<00:01:21.899> a<00:01:21.960> little<00:01:21.990> bit<00:01:22.170> more<00:01:22.229> what<00:01:22.409> that<00:01:22.439> is 00:01:22.609 --> 00:01:22.619 align:start position:0% explain a little bit more what that is 00:01:22.619 --> 00:01:25.760 align:start position:0% explain a little bit more what that is exactly<00:01:22.740> and<00:01:23.359> then<00:01:24.359> this<00:01:25.170> will<00:01:25.289> become<00:01:25.439> clear 00:01:25.760 --> 00:01:25.770 align:start position:0% exactly and then this will become clear 00:01:25.770 --> 00:01:28.340 align:start position:0% exactly and then this will become clear later<00:01:25.799> but<00:01:26.340> essentially<00:01:26.670> this<00:01:27.600> this<00:01:27.990> is<00:01:28.170> like 00:01:28.340 --> 00:01:28.350 align:start position:0% later but essentially this this is like 00:01:28.350 --> 00:01:30.859 align:start position:0% later but essentially this this is like showing<00:01:29.159> finality<00:01:29.639> extending<00:01:30.329> from<00:01:30.539> the<00:01:30.630> to 00:01:30.859 --> 00:01:30.869 align:start position:0% showing finality extending from the to 00:01:30.869 --> 00:01:33.980 align:start position:0% showing finality extending from the to go<00:01:30.960> chain<00:01:31.229> to<00:01:31.439> the<00:01:31.530> 100<00:01:31.740> chain<00:01:32.479> will<00:01:33.479> go<00:01:33.749> into<00:01:33.899> a 00:01:33.980 --> 00:01:33.990 align:start position:0% go chain to the 100 chain will go into a 00:01:33.990 --> 00:01:38.059 align:start position:0% go chain to the 100 chain will go into a lot<00:01:34.079> more<00:01:34.109> detail<00:01:34.469> on<00:01:34.499> that<00:01:35.509> so<00:01:36.799> I'm<00:01:37.799> sure 00:01:38.059 --> 00:01:38.069 align:start position:0% lot more detail on that so I'm sure 00:01:38.069 --> 00:01:39.230 align:start position:0% lot more detail on that so I'm sure you've<00:01:38.189> seen<00:01:38.340> this<00:01:38.520> like<00:01:38.670> a<00:01:38.729> thousand<00:01:39.060> times 00:01:39.230 --> 00:01:39.240 align:start position:0% you've seen this like a thousand times 00:01:39.240 --> 00:01:41.840 align:start position:0% you've seen this like a thousand times by<00:01:39.539> this<00:01:39.600> point<00:01:39.929> very<00:01:40.770> briefly<00:01:40.859> we'll<00:01:41.670> break 00:01:41.840 --> 00:01:41.850 align:start position:0% by this point very briefly we'll break 00:01:41.850 --> 00:01:43.999 align:start position:0% by this point very briefly we'll break down<00:01:42.060> each<00:01:42.359> row<00:01:42.600> there's<00:01:43.469> a<00:01:43.530> beacon<00:01:43.770> chain 00:01:43.999 --> 00:01:44.009 align:start position:0% down each row there's a beacon chain 00:01:44.009 --> 00:01:45.679 align:start position:0% down each row there's a beacon chain it's<00:01:44.700> a<00:01:44.759> proof<00:01:44.939> of<00:01:45.030> stake<00:01:45.209> blockchain 00:01:45.679 --> 00:01:45.689 align:start position:0% it's a proof of stake blockchain 00:01:45.689 --> 00:01:47.870 align:start position:0% it's a proof of stake blockchain completely<00:01:46.590> new<00:01:46.709> chain<00:01:46.920> from<00:01:47.279> the<00:01:47.310> existing 00:01:47.870 --> 00:01:47.880 align:start position:0% completely new chain from the existing 00:01:47.880 --> 00:01:51.739 align:start position:0% completely new chain from the existing one<00:01:48.029> and<00:01:49.909> it's<00:01:50.909> gonna<00:01:51.060> build<00:01:51.240> out<00:01:51.420> this<00:01:51.569> new 00:01:51.739 --> 00:01:51.749 align:start position:0% one and it's gonna build out this new 00:01:51.749 --> 00:01:54.849 align:start position:0% one and it's gonna build out this new shorter<00:01:52.350> system<00:01:52.679> that<00:01:52.859> will<00:01:52.979> have<00:01:53.130> very<00:01:53.700> soon 00:01:54.849 --> 00:01:54.859 align:start position:0% shorter system that will have very soon 00:01:54.859 --> 00:01:57.440 align:start position:0% shorter system that will have very soon the<00:01:55.859> way<00:01:55.979> we<00:01:56.100> do<00:01:56.219> that<00:01:56.340> is<00:01:56.399> we<00:01:57.179> have<00:01:57.329> this 00:01:57.440 --> 00:01:57.450 align:start position:0% the way we do that is we have this 00:01:57.450 --> 00:01:59.029 align:start position:0% the way we do that is we have this beacon<00:01:57.749> chain<00:01:57.990> which<00:01:58.200> is<00:01:58.229> like<00:01:58.529> sort<00:01:58.859> of<00:01:58.889> the 00:01:59.029 --> 00:01:59.039 align:start position:0% beacon chain which is like sort of the 00:01:59.039 --> 00:02:01.910 align:start position:0% beacon chain which is like sort of the system<00:01:59.369> chain<00:01:59.579> it<00:02:00.329> operates<00:02:00.959> and<00:02:01.380> manages 00:02:01.910 --> 00:02:01.920 align:start position:0% system chain it operates and manages 00:02:01.920 --> 00:02:05.029 align:start position:0% system chain it operates and manages validators<00:02:02.670> in<00:02:02.819> the<00:02:02.880> system<00:02:03.560> then<00:02:04.560> from<00:02:04.859> there 00:02:05.029 --> 00:02:05.039 align:start position:0% validators in the system then from there 00:02:05.039 --> 00:02:06.589 align:start position:0% validators in the system then from there we<00:02:05.279> have<00:02:05.429> all<00:02:05.639> these<00:02:05.759> chart<00:02:05.999> chains<00:02:06.270> which<00:02:06.450> are 00:02:06.589 --> 00:02:06.599 align:start position:0% we have all these chart chains which are 00:02:06.599 --> 00:02:08.449 align:start position:0% we have all these chart chains which are these<00:02:06.689> little<00:02:06.899> circles<00:02:07.220> let's<00:02:08.220> say<00:02:08.310> there's 00:02:08.449 --> 00:02:08.459 align:start position:0% these little circles let's say there's 00:02:08.459 --> 00:02:10.580 align:start position:0% these little circles let's say there's like<00:02:08.580> a<00:02:08.610> thousand<00:02:08.970> of<00:02:09.090> them<00:02:09.349> that's<00:02:10.349> where 00:02:10.580 --> 00:02:10.590 align:start position:0% like a thousand of them that's where 00:02:10.590 --> 00:02:13.510 align:start position:0% like a thousand of them that's where user<00:02:11.099> level<00:02:11.370> transactions<00:02:11.819> will<00:02:11.970> happen<00:02:12.240> and 00:02:13.510 --> 00:02:13.520 align:start position:0% user level transactions will happen and 00:02:13.520 --> 00:02:16.670 align:start position:0% user level transactions will happen and ultimately<00:02:14.520> we'll<00:02:14.940> have<00:02:14.970> phase<00:02:15.510> two<00:02:15.870> then<00:02:16.590> we 00:02:16.670 --> 00:02:16.680 align:start position:0% ultimately we'll have phase two then we 00:02:16.680 --> 00:02:17.800 align:start position:0% ultimately we'll have phase two then we have<00:02:16.830> like<00:02:17.070> all 00:02:17.800 --> 00:02:17.810 align:start position:0% have like all 00:02:17.810 --> 00:02:19.390 align:start position:0% have like all fund<00:02:17.959> apps<00:02:18.140> we<00:02:18.500> know<00:02:18.650> and<00:02:18.770> love<00:02:18.800> on<00:02:19.190> these 00:02:19.390 --> 00:02:19.400 align:start position:0% fund apps we know and love on these 00:02:19.400 --> 00:02:22.600 align:start position:0% fund apps we know and love on these chart<00:02:19.610> chains<00:02:20.440> hopefully<00:02:21.440> with<00:02:21.590> like<00:02:21.800> much 00:02:22.600 --> 00:02:22.610 align:start position:0% chart chains hopefully with like much 00:02:22.610 --> 00:02:29.199 align:start position:0% chart chains hopefully with like much great<00:02:22.880> much<00:02:23.330> greater<00:02:23.540> scalability<00:02:27.819> so<00:02:28.819> yeah 00:02:29.199 --> 00:02:29.209 align:start position:0% great much greater scalability so yeah 00:02:29.209 --> 00:02:31.180 align:start position:0% great much greater scalability so yeah then<00:02:29.390> the<00:02:29.480> question<00:02:29.750> is<00:02:29.870> always<00:02:30.050> okay<00:02:30.410> this<00:02:31.010> is 00:02:31.180 --> 00:02:31.190 align:start position:0% then the question is always okay this is 00:02:31.190 --> 00:02:31.720 align:start position:0% then the question is always okay this is great 00:02:31.720 --> 00:02:31.730 align:start position:0% great 00:02:31.730 --> 00:02:33.070 align:start position:0% great you<00:02:31.910> might<00:02:32.060> have<00:02:32.150> noticed<00:02:32.420> I<00:02:32.569> keep<00:02:32.840> saying 00:02:33.070 --> 00:02:33.080 align:start position:0% you might have noticed I keep saying 00:02:33.080 --> 00:02:34.770 align:start position:0% you might have noticed I keep saying phase<00:02:33.349> phase<00:02:33.890> zero<00:02:34.160> phase<00:02:34.370> one<00:02:34.519> phase<00:02:34.700> two 00:02:34.770 --> 00:02:34.780 align:start position:0% phase phase zero phase one phase two 00:02:34.780 --> 00:02:37.089 align:start position:0% phase phase zero phase one phase two because<00:02:35.780> the<00:02:35.900> system<00:02:36.200> so<00:02:36.380> complicated<00:02:36.920> we're 00:02:37.089 --> 00:02:37.099 align:start position:0% because the system so complicated we're 00:02:37.099 --> 00:02:38.740 align:start position:0% because the system so complicated we're like<00:02:37.250> breaking<00:02:37.580> this<00:02:37.670> out<00:02:37.849> in<00:02:38.000> two<00:02:38.090> phases<00:02:38.300> so 00:02:38.740 --> 00:02:38.750 align:start position:0% like breaking this out in two phases so 00:02:38.750 --> 00:02:40.210 align:start position:0% like breaking this out in two phases so it's<00:02:38.900> just<00:02:38.989> easier<00:02:39.349> to<00:02:39.410> get<00:02:39.530> right<00:02:39.739> to<00:02:40.130> have 00:02:40.210 --> 00:02:40.220 align:start position:0% it's just easier to get right to have 00:02:40.220 --> 00:02:41.680 align:start position:0% it's just easier to get right to have like<00:02:40.400> discrete<00:02:40.760> chunks<00:02:40.910> we<00:02:41.150> can<00:02:41.269> kind<00:02:41.450> of<00:02:41.480> go 00:02:41.680 --> 00:02:41.690 align:start position:0% like discrete chunks we can kind of go 00:02:41.690 --> 00:02:44.860 align:start position:0% like discrete chunks we can kind of go and<00:02:42.430> deploy<00:02:43.430> one<00:02:43.640> at<00:02:43.730> a<00:02:43.790> time 00:02:44.860 --> 00:02:44.870 align:start position:0% and deploy one at a time 00:02:44.870 --> 00:02:46.930 align:start position:0% and deploy one at a time then<00:02:45.739> of<00:02:45.860> course<00:02:45.920> Sharon<00:02:46.250> is<00:02:46.310> like<00:02:46.400> okay<00:02:46.700> well 00:02:46.930 --> 00:02:46.940 align:start position:0% then of course Sharon is like okay well 00:02:46.940 --> 00:02:48.490 align:start position:0% then of course Sharon is like okay well when<00:02:47.060> is<00:02:47.150> this<00:02:47.239> happening<00:02:47.300> the<00:02:48.050> short<00:02:48.260> answer 00:02:48.490 --> 00:02:48.500 align:start position:0% when is this happening the short answer 00:02:48.500 --> 00:02:50.380 align:start position:0% when is this happening the short answer is<00:02:48.530> like<00:02:48.830> when<00:02:49.010> it's<00:02:49.130> ready<00:02:49.340> we<00:02:50.060> don't<00:02:50.209> want<00:02:50.330> to 00:02:50.380 --> 00:02:50.390 align:start position:0% is like when it's ready we don't want to 00:02:50.390 --> 00:02:52.600 align:start position:0% is like when it's ready we don't want to like<00:02:50.480> rush<00:02:50.690> anything<00:02:50.900> and<00:02:51.410> there's<00:02:52.220> a<00:02:52.310> lot<00:02:52.489> to 00:02:52.600 --> 00:02:52.610 align:start position:0% like rush anything and there's a lot to 00:02:52.610 --> 00:02:54.940 align:start position:0% like rush anything and there's a lot to get<00:02:52.730> right<00:02:52.910> there's<00:02:53.180> a<00:02:53.239> lot<00:02:53.330> to<00:02:53.420> get<00:02:53.569> wrong<00:02:53.950> so 00:02:54.940 --> 00:02:54.950 align:start position:0% get right there's a lot to get wrong so 00:02:54.950 --> 00:02:57.280 align:start position:0% get right there's a lot to get wrong so in<00:02:55.220> the<00:02:55.310> meantime<00:02:55.459> you<00:02:55.910> can<00:02:55.970> ask<00:02:56.180> okay<00:02:56.510> what 00:02:57.280 --> 00:02:57.290 align:start position:0% in the meantime you can ask okay what 00:02:57.290 --> 00:02:59.470 align:start position:0% in the meantime you can ask okay what about<00:02:57.380> the<00:02:57.590> chain<00:02:57.739> we<00:02:57.860> have<00:02:57.980> today<00:02:58.390> and<00:02:59.390> we 00:02:59.470 --> 00:02:59.480 align:start position:0% about the chain we have today and we 00:02:59.480 --> 00:03:01.720 align:start position:0% about the chain we have today and we have<00:02:59.630> this<00:02:59.840> whole<00:03:00.019> bundle<00:03:00.920> of<00:03:01.130> initiatives<00:03:01.519> to 00:03:01.720 --> 00:03:01.730 align:start position:0% have this whole bundle of initiatives to 00:03:01.730 --> 00:03:03.880 align:start position:0% have this whole bundle of initiatives to the<00:03:01.760> theorem<00:03:02.150> called<00:03:02.330> etherium<00:03:02.720> 1x<00:03:03.019> again 00:03:03.880 --> 00:03:03.890 align:start position:0% the theorem called etherium 1x again 00:03:03.890 --> 00:03:04.809 align:start position:0% the theorem called etherium 1x again you've<00:03:04.040> also<00:03:04.160> probably<00:03:04.370> heard<00:03:04.610> a<00:03:04.670> lot<00:03:04.790> about 00:03:04.809 --> 00:03:04.819 align:start position:0% you've also probably heard a lot about 00:03:04.819 --> 00:03:07.539 align:start position:0% you've also probably heard a lot about this<00:03:05.090> over<00:03:05.269> the<00:03:05.420> past<00:03:05.540> couple<00:03:05.660> days<00:03:06.459> it's<00:03:07.459> so 00:03:07.539 --> 00:03:07.549 align:start position:0% this over the past couple days it's so 00:03:07.549 --> 00:03:10.180 align:start position:0% this over the past couple days it's so like<00:03:07.760> bundle<00:03:08.090> of<00:03:08.180> features<00:03:08.450> to<00:03:08.840> improve<00:03:09.620> the 00:03:10.180 --> 00:03:10.190 align:start position:0% like bundle of features to improve the 00:03:10.190 --> 00:03:12.490 align:start position:0% like bundle of features to improve the theorem<00:03:10.459> we<00:03:10.549> have<00:03:10.670> today<00:03:10.910> keep<00:03:11.180> it<00:03:11.299> going 00:03:12.490 --> 00:03:12.500 align:start position:0% theorem we have today keep it going 00:03:12.500 --> 00:03:14.620 align:start position:0% theorem we have today keep it going so<00:03:13.220> like<00:03:13.340> Alexa<00:03:13.670> has<00:03:13.760> been<00:03:13.880> looking<00:03:14.090> at<00:03:14.269> state 00:03:14.620 --> 00:03:14.630 align:start position:0% so like Alexa has been looking at state 00:03:14.630 --> 00:03:16.630 align:start position:0% so like Alexa has been looking at state management<00:03:15.110> and<00:03:15.500> like<00:03:15.920> state<00:03:16.160> growth<00:03:16.340> on<00:03:16.519> the 00:03:16.630 --> 00:03:16.640 align:start position:0% management and like state growth on the 00:03:16.640 --> 00:03:18.220 align:start position:0% management and like state growth on the chain<00:03:16.849> and<00:03:16.880> like<00:03:17.209> deploying<00:03:17.810> some<00:03:17.989> sort<00:03:18.200> of 00:03:18.220 --> 00:03:18.230 align:start position:0% chain and like deploying some sort of 00:03:18.230 --> 00:03:21.240 align:start position:0% chain and like deploying some sort of state<00:03:18.470> fees<00:03:18.769> to<00:03:19.489> help<00:03:20.150> with<00:03:20.269> the<00:03:20.390> growth<00:03:20.540> there 00:03:21.240 --> 00:03:21.250 align:start position:0% state fees to help with the growth there 00:03:21.250 --> 00:03:24.520 align:start position:0% state fees to help with the growth there updates<00:03:22.250> to<00:03:22.370> the<00:03:22.459> VM<00:03:22.840> so<00:03:23.840> this<00:03:24.019> for<00:03:24.350> example 00:03:24.520 --> 00:03:24.530 align:start position:0% updates to the VM so this for example 00:03:24.530 --> 00:03:26.590 align:start position:0% updates to the VM so this for example would<00:03:24.680> be<00:03:24.739> like<00:03:25.010> the<00:03:25.760> point<00:03:25.970> II<00:03:26.150> wasn't<00:03:26.329> free 00:03:26.590 --> 00:03:26.600 align:start position:0% would be like the point II wasn't free 00:03:26.600 --> 00:03:28.509 align:start position:0% would be like the point II wasn't free compiles<00:03:27.109> to<00:03:27.650> accelerate<00:03:28.040> certain<00:03:28.280> parts<00:03:28.459> of 00:03:28.509 --> 00:03:28.519 align:start position:0% compiles to accelerate certain parts of 00:03:28.519 --> 00:03:31.420 align:start position:0% compiles to accelerate certain parts of computation<00:03:29.060> on<00:03:29.150> chain<00:03:29.859> protocol<00:03:30.859> economics 00:03:31.420 --> 00:03:31.430 align:start position:0% computation on chain protocol economics 00:03:31.430 --> 00:03:34.780 align:start position:0% computation on chain protocol economics you<00:03:32.209> probably<00:03:32.359> heard<00:03:32.540> of<00:03:32.660> a<00:03:32.810> IP<00:03:33.010> 1559<00:03:34.010> which<00:03:34.609> is 00:03:34.780 --> 00:03:34.790 align:start position:0% you probably heard of a IP 1559 which is 00:03:34.790 --> 00:03:36.400 align:start position:0% you probably heard of a IP 1559 which is changing<00:03:35.239> how<00:03:35.390> transaction<00:03:35.959> fee<00:03:36.079> markets 00:03:36.400 --> 00:03:36.410 align:start position:0% changing how transaction fee markets 00:03:36.410 --> 00:03:37.930 align:start position:0% changing how transaction fee markets work<00:03:36.590> so<00:03:36.890> that<00:03:37.040> they're<00:03:37.250> less<00:03:37.370> volatile<00:03:37.760> and 00:03:37.930 --> 00:03:37.940 align:start position:0% work so that they're less volatile and 00:03:37.940 --> 00:03:40.479 align:start position:0% work so that they're less volatile and things<00:03:38.120> and<00:03:38.390> then<00:03:39.380> finally<00:03:39.769> another<00:03:39.859> one<00:03:40.130> is 00:03:40.479 --> 00:03:40.489 align:start position:0% things and then finally another one is 00:03:40.489 --> 00:03:46.500 align:start position:0% things and then finally another one is the<00:03:40.640> finality<00:03:40.880> gadget<00:03:41.329> which<00:03:41.840> will<00:03:42.170> okay<00:03:42.380> now 00:03:46.500 --> 00:03:46.510 align:start position:0% 00:03:46.510 --> 00:03:49.660 align:start position:0% okay<00:03:47.510> quick<00:03:48.049> diversion<00:03:48.620> we're<00:03:49.250> gonna<00:03:49.340> talk 00:03:49.660 --> 00:03:49.670 align:start position:0% okay quick diversion we're gonna talk 00:03:49.670 --> 00:03:50.770 align:start position:0% okay quick diversion we're gonna talk about<00:03:49.700> the<00:03:49.910> final<00:03:50.060> gadget<00:03:50.420> the<00:03:50.540> rest<00:03:50.660> of<00:03:50.720> the 00:03:50.770 --> 00:03:50.780 align:start position:0% about the final gadget the rest of the 00:03:50.780 --> 00:03:52.599 align:start position:0% about the final gadget the rest of the talk<00:03:50.989> but<00:03:51.680> I<00:03:51.709> just<00:03:51.829> want<00:03:51.980> to<00:03:52.040> take<00:03:52.130> a<00:03:52.160> moment<00:03:52.280> to 00:03:52.599 --> 00:03:52.609 align:start position:0% talk but I just want to take a moment to 00:03:52.609 --> 00:03:55.030 align:start position:0% talk but I just want to take a moment to like<00:03:52.730> communicate<00:03:53.359> that<00:03:53.799> we<00:03:54.799> can<00:03:54.920> actually 00:03:55.030 --> 00:03:55.040 align:start position:0% like communicate that we can actually 00:03:55.040 --> 00:03:57.610 align:start position:0% like communicate that we can actually get<00:03:55.280> tangible<00:03:55.670> value<00:03:55.760> out<00:03:56.150> of<00:03:56.209> each<00:03:56.540> phase<00:03:57.350> of 00:03:57.610 --> 00:03:57.620 align:start position:0% get tangible value out of each phase of 00:03:57.620 --> 00:04:00.729 align:start position:0% get tangible value out of each phase of this<00:03:58.130> eath<00:03:58.310> to<00:03:58.459> deployment<00:03:59.290> with<00:04:00.290> phase<00:04:00.500> zero 00:04:00.729 --> 00:04:00.739 align:start position:0% this eath to deployment with phase zero 00:04:00.739 --> 00:04:02.860 align:start position:0% this eath to deployment with phase zero we<00:04:00.980> can<00:04:01.130> do<00:04:01.970> the<00:04:02.060> finale<00:04:02.299> gadget<00:04:02.660> which<00:04:02.750> we'll 00:04:02.860 --> 00:04:02.870 align:start position:0% we can do the finale gadget which we'll 00:04:02.870 --> 00:04:04.870 align:start position:0% we can do the finale gadget which we'll look<00:04:02.930> at<00:04:03.109> soon<00:04:03.380> with<00:04:04.069> phase<00:04:04.310> one<00:04:04.519> we<00:04:04.760> can 00:04:04.870 --> 00:04:04.880 align:start position:0% look at soon with phase one we can 00:04:04.880 --> 00:04:06.309 align:start position:0% look at soon with phase one we can actually<00:04:05.209> think<00:04:05.299> about<00:04:05.420> using<00:04:05.810> the<00:04:06.049> shard 00:04:06.309 --> 00:04:06.319 align:start position:0% actually think about using the shard 00:04:06.319 --> 00:04:08.559 align:start position:0% actually think about using the shard chains<00:04:06.560> is<00:04:06.799> this<00:04:06.920> like<00:04:07.100> data<00:04:07.400> layer<00:04:07.670> for<00:04:08.420> the 00:04:08.559 --> 00:04:08.569 align:start position:0% chains is this like data layer for the 00:04:08.569 --> 00:04:10.750 align:start position:0% chains is this like data layer for the existing<00:04:09.079> chain<00:04:09.290> and<00:04:09.500> that<00:04:09.530> lets<00:04:10.310> us<00:04:10.400> do<00:04:10.549> cool 00:04:10.750 --> 00:04:10.760 align:start position:0% existing chain and that lets us do cool 00:04:10.760 --> 00:04:13.840 align:start position:0% existing chain and that lets us do cool things<00:04:10.790> like<00:04:11.180> plasmas<00:04:12.049> UK<00:04:12.470> roll-ups<00:04:12.829> zk<00:04:13.639> zk 00:04:13.840 --> 00:04:13.850 align:start position:0% things like plasmas UK roll-ups zk zk 00:04:13.850 --> 00:04:15.819 align:start position:0% things like plasmas UK roll-ups zk zk roll-ups<00:04:14.299> which<00:04:14.690> is<00:04:14.959> an<00:04:15.049> idea<00:04:15.290> Vitalik<00:04:15.650> had 00:04:15.819 --> 00:04:15.829 align:start position:0% roll-ups which is an idea Vitalik had 00:04:15.829 --> 00:04:17.949 align:start position:0% roll-ups which is an idea Vitalik had anyways<00:04:16.760> all<00:04:16.940> these<00:04:17.060> like<00:04:17.209> cool<00:04:17.450> layer<00:04:17.780> to 00:04:17.949 --> 00:04:17.959 align:start position:0% anyways all these like cool layer to 00:04:17.959 --> 00:04:21.039 align:start position:0% anyways all these like cool layer to scaling<00:04:18.289> ideas<00:04:18.620> that<00:04:19.070> we<00:04:19.760> can<00:04:19.970> leverage<00:04:20.720> these 00:04:21.039 --> 00:04:21.049 align:start position:0% scaling ideas that we can leverage these 00:04:21.049 --> 00:04:23.440 align:start position:0% scaling ideas that we can leverage these char<00:04:21.320> data<00:04:21.500> chains<00:04:21.769> for<00:04:22.300> once<00:04:23.300> they're 00:04:23.440 --> 00:04:23.450 align:start position:0% char data chains for once they're 00:04:23.450 --> 00:04:28.270 align:start position:0% char data chains for once they're deployed<00:04:25.150> then<00:04:26.150> finally<00:04:26.539> phase<00:04:26.750> 2<00:04:27.280> again 00:04:28.270 --> 00:04:28.280 align:start position:0% deployed then finally phase 2 again 00:04:28.280 --> 00:04:30.100 align:start position:0% deployed then finally phase 2 again there<00:04:28.940> are<00:04:29.090> a<00:04:29.180> lot<00:04:29.330> of<00:04:29.360> ideas<00:04:29.510> around<00:04:29.870> how<00:04:29.990> to 00:04:30.100 --> 00:04:30.110 align:start position:0% there are a lot of ideas around how to 00:04:30.110 --> 00:04:32.020 align:start position:0% there are a lot of ideas around how to like<00:04:30.320> move<00:04:30.530> eath<00:04:30.770> one<00:04:31.010> into<00:04:31.310> eath<00:04:31.400> two 00:04:32.020 --> 00:04:32.030 align:start position:0% like move eath one into eath two 00:04:32.030 --> 00:04:35.890 align:start position:0% like move eath one into eath two and<00:04:32.620> yeah<00:04:34.240> the<00:04:35.240> main<00:04:35.420> point<00:04:35.660> the<00:04:35.750> main 00:04:35.890 --> 00:04:35.900 align:start position:0% and yeah the main point the main 00:04:35.900 --> 00:04:37.450 align:start position:0% and yeah the main point the main takeaway<00:04:36.230> here<00:04:36.260> is<00:04:36.440> that<00:04:36.530> you<00:04:37.010> know<00:04:37.100> it's<00:04:37.250> it's 00:04:37.450 --> 00:04:37.460 align:start position:0% takeaway here is that you know it's it's 00:04:37.460 --> 00:04:39.280 align:start position:0% takeaway here is that you know it's it's not<00:04:37.550> that<00:04:37.880> this<00:04:38.090> all<00:04:38.570> the<00:04:38.780> school<00:04:38.960> stuff<00:04:39.050> is 00:04:39.280 --> 00:04:39.290 align:start position:0% not that this all the school stuff is 00:04:39.290 --> 00:04:42.310 align:start position:0% not that this all the school stuff is like<00:04:39.410> far<00:04:39.770> many<00:04:40.190> years<00:04:40.460> away<00:04:40.810> with<00:04:41.810> each<00:04:42.050> step 00:04:42.310 --> 00:04:42.320 align:start position:0% like far many years away with each step 00:04:42.320 --> 00:04:43.720 align:start position:0% like far many years away with each step of<00:04:42.440> this<00:04:42.560> deployment<00:04:42.860> we<00:04:43.130> can<00:04:43.310> like<00:04:43.460> get 00:04:43.720 --> 00:04:43.730 align:start position:0% of this deployment we can like get 00:04:43.730 --> 00:04:46.810 align:start position:0% of this deployment we can like get something<00:04:44.000> really<00:04:44.120> cool<00:04:44.360> on<00:04:44.770> the<00:04:45.770> theorem<00:04:46.700> two 00:04:46.810 --> 00:04:46.820 align:start position:0% something really cool on the theorem two 00:04:46.820 --> 00:04:53.100 align:start position:0% something really cool on the theorem two day<00:04:49.900> okay<00:04:50.900> so<00:04:51.440> back<00:04:51.890> to<00:04:51.950> the<00:04:52.130> finality<00:04:52.370> gadget 00:04:53.100 --> 00:04:53.110 align:start position:0% day okay so back to the finality gadget 00:04:53.110 --> 00:04:55.420 align:start position:0% day okay so back to the finality gadget like<00:04:54.110> I<00:04:54.200> said<00:04:54.440> we're<00:04:54.650> gonna<00:04:54.740> have<00:04:54.980> the<00:04:55.280> two<00:04:55.400> a 00:04:55.420 --> 00:04:55.430 align:start position:0% like I said we're gonna have the two a 00:04:55.430 --> 00:04:58.060 align:start position:0% like I said we're gonna have the two a chain<00:04:55.730> there's<00:04:56.540> this<00:04:56.720> process<00:04:57.080> of<00:04:57.590> the 00:04:58.060 --> 00:04:58.070 align:start position:0% chain there's this process of the 00:04:58.070 --> 00:05:00.400 align:start position:0% chain there's this process of the consensus<00:04:58.520> on<00:04:58.670> the<00:04:58.760> beacon<00:04:59.000> chain<00:04:59.410> called 00:05:00.400 --> 00:05:00.410 align:start position:0% consensus on the beacon chain called 00:05:00.410 --> 00:05:04.060 align:start position:0% consensus on the beacon chain called Casper<00:05:01.420> part<00:05:02.420> of<00:05:02.540> Casper<00:05:03.020> is<00:05:03.200> finality<00:05:03.620> and 00:05:04.060 --> 00:05:04.070 align:start position:0% Casper part of Casper is finality and 00:05:04.070 --> 00:05:06.070 align:start position:0% Casper part of Casper is finality and finality<00:05:04.760> are<00:05:05.180> essentially<00:05:05.690> the<00:05:05.810> set<00:05:05.990> of 00:05:06.070 --> 00:05:06.080 align:start position:0% finality are essentially the set of 00:05:06.080 --> 00:05:07.870 align:start position:0% finality are essentially the set of rules<00:05:06.320> that<00:05:06.500> say<00:05:06.890> once<00:05:07.220> validators<00:05:07.700> in<00:05:07.790> the 00:05:07.870 --> 00:05:07.880 align:start position:0% rules that say once validators in the 00:05:07.880 --> 00:05:10.120 align:start position:0% rules that say once validators in the system<00:05:08.240> have<00:05:08.510> made<00:05:09.080> so<00:05:09.380> many<00:05:09.560> statements<00:05:09.770> of<00:05:10.070> a 00:05:10.120 --> 00:05:10.130 align:start position:0% system have made so many statements of a 00:05:10.130 --> 00:05:12.880 align:start position:0% system have made so many statements of a certain<00:05:10.370> form<00:05:11.020> basically<00:05:12.020> you<00:05:12.200> can't<00:05:12.620> like 00:05:12.880 --> 00:05:12.890 align:start position:0% certain form basically you can't like 00:05:12.890 --> 00:05:15.220 align:start position:0% certain form basically you can't like fork<00:05:13.669> the<00:05:13.850> blockchain<00:05:14.060> from<00:05:14.570> will<00:05:15.050> call<00:05:15.200> a 00:05:15.220 --> 00:05:15.230 align:start position:0% fork the blockchain from will call a 00:05:15.230 --> 00:05:17.440 align:start position:0% fork the blockchain from will call a finalized<00:05:15.680> block<00:05:15.950> without<00:05:16.580> burning<00:05:17.000> like<00:05:17.300> a 00:05:17.440 --> 00:05:17.450 align:start position:0% finalized block without burning like a 00:05:17.450 --> 00:05:20.140 align:start position:0% finalized block without burning like a ton<00:05:17.720> of<00:05:17.750> the<00:05:18.590> validators<00:05:18.980> bonds<00:05:19.340> and<00:05:19.520> that's 00:05:20.140 --> 00:05:20.150 align:start position:0% ton of the validators bonds and that's 00:05:20.150 --> 00:05:22.300 align:start position:0% ton of the validators bonds and that's how<00:05:20.270> you<00:05:20.330> keep<00:05:20.450> the<00:05:20.570> system<00:05:20.720> secure<00:05:21.230> so<00:05:21.980> like 00:05:22.300 --> 00:05:22.310 align:start position:0% how you keep the system secure so like 00:05:22.310 --> 00:05:23.500 align:start position:0% how you keep the system secure so like in<00:05:22.430> theory<00:05:22.669> you<00:05:22.850> could<00:05:22.940> like<00:05:23.120> make<00:05:23.330> these 00:05:23.500 --> 00:05:23.510 align:start position:0% in theory you could like make these 00:05:23.510 --> 00:05:25.330 align:start position:0% in theory you could like make these bonds<00:05:23.720> arbitrarily<00:05:24.169> high<00:05:24.440> so<00:05:25.130> you<00:05:25.220> get 00:05:25.330 --> 00:05:25.340 align:start position:0% bonds arbitrarily high so you get 00:05:25.340 --> 00:05:28.060 align:start position:0% bonds arbitrarily high so you get arbitrarily<00:05:25.700> high<00:05:25.850> security<00:05:26.740> we<00:05:27.740> then<00:05:27.890> want 00:05:28.060 --> 00:05:28.070 align:start position:0% arbitrarily high security we then want 00:05:28.070 --> 00:05:30.430 align:start position:0% arbitrarily high security we then want to<00:05:28.160> say<00:05:28.280> okay<00:05:28.669> let's<00:05:28.910> use<00:05:29.600> this<00:05:29.750> security<00:05:30.260> on 00:05:30.430 --> 00:05:30.440 align:start position:0% to say okay let's use this security on 00:05:30.440 --> 00:05:37.240 align:start position:0% to say okay let's use this security on the<00:05:30.800> the<00:05:31.130> perf<00:05:31.280> working<00:05:31.960> find<00:05:32.960> out<00:05:33.050> yet<00:05:36.250> so 00:05:37.240 --> 00:05:37.250 align:start position:0% the the perf working find out yet so 00:05:37.250 --> 00:05:38.650 align:start position:0% the the perf working find out yet so like<00:05:37.430> breaking<00:05:37.669> it<00:05:37.850> down<00:05:37.940> there's<00:05:38.240> like<00:05:38.390> two 00:05:38.650 --> 00:05:38.660 align:start position:0% like breaking it down there's like two 00:05:38.660 --> 00:05:40.870 align:start position:0% like breaking it down there's like two key<00:05:39.110> pieces<00:05:39.290> or<00:05:39.620> like<00:05:39.740> mechanisms<00:05:40.220> right<00:05:40.400> so 00:05:40.870 --> 00:05:40.880 align:start position:0% key pieces or like mechanisms right so 00:05:40.880 --> 00:05:42.550 align:start position:0% key pieces or like mechanisms right so we'll<00:05:41.270> call<00:05:41.419> it<00:05:41.540> the<00:05:41.600> finality<00:05:41.930> engine<00:05:42.320> which 00:05:42.550 --> 00:05:42.560 align:start position:0% we'll call it the finality engine which 00:05:42.560 --> 00:05:43.870 align:start position:0% we'll call it the finality engine which is<00:05:42.740> like<00:05:42.890> how<00:05:43.070> we<00:05:43.130> get<00:05:43.340> this<00:05:43.430> finality<00:05:43.729> in 00:05:43.870 --> 00:05:43.880 align:start position:0% is like how we get this finality in 00:05:43.880 --> 00:05:47.770 align:start position:0% is like how we get this finality in first<00:05:44.090> place<00:05:44.470> then<00:05:46.390> hopefully<00:05:47.390> I<00:05:47.570> made<00:05:47.690> it 00:05:47.770 --> 00:05:47.780 align:start position:0% first place then hopefully I made it 00:05:47.780 --> 00:05:49.180 align:start position:0% first place then hopefully I made it clear<00:05:47.900> like<00:05:48.200> these<00:05:48.350> systems<00:05:48.680> are<00:05:48.830> like<00:05:49.010> very 00:05:49.180 --> 00:05:49.190 align:start position:0% clear like these systems are like very 00:05:49.190 --> 00:05:53.469 align:start position:0% clear like these systems are like very uncoupled<00:05:49.640> and<00:05:49.790> so<00:05:51.490> you<00:05:52.490> know<00:05:52.610> finality<00:05:53.270> is 00:05:53.469 --> 00:05:53.479 align:start position:0% uncoupled and so you know finality is 00:05:53.479 --> 00:05:56.530 align:start position:0% uncoupled and so you know finality is happening<00:05:53.870> here<00:05:54.140> and<00:05:54.340> unless<00:05:55.340> this<00:05:56.240> part 00:05:56.530 --> 00:05:56.540 align:start position:0% happening here and unless this part 00:05:56.540 --> 00:05:58.000 align:start position:0% happening here and unless this part learns<00:05:56.930> about<00:05:57.020> this<00:05:57.229> part<00:05:57.530> and<00:05:57.740> there's<00:05:57.860> no 00:05:58.000 --> 00:05:58.010 align:start position:0% learns about this part and there's no 00:05:58.010 --> 00:05:59.850 align:start position:0% learns about this part and there's no way<00:05:58.130> to<00:05:58.160> finalize<00:05:58.610> this<00:05:58.790> stuff<00:05:59.060> it's<00:05:59.540> like 00:05:59.850 --> 00:05:59.860 align:start position:0% way to finalize this stuff it's like 00:05:59.860 --> 00:06:02.050 align:start position:0% way to finalize this stuff it's like whatever<00:06:00.860> is<00:06:01.100> up<00:06:01.250> here<00:06:01.430> could<00:06:01.580> be<00:06:01.610> finalized 00:06:02.050 --> 00:06:02.060 align:start position:0% whatever is up here could be finalized 00:06:02.060 --> 00:06:03.670 align:start position:0% whatever is up here could be finalized and<00:06:02.360> then<00:06:02.510> it's<00:06:02.690> just<00:06:02.810> like<00:06:02.930> kind<00:06:03.229> of<00:06:03.350> floating 00:06:03.670 --> 00:06:03.680 align:start position:0% and then it's just like kind of floating 00:06:03.680 --> 00:06:06.310 align:start position:0% and then it's just like kind of floating on<00:06:03.710> space<00:06:04.540> we<00:06:05.540> need<00:06:05.660> to<00:06:05.750> that<00:06:05.870> we<00:06:05.990> need<00:06:06.140> a<00:06:06.169> way 00:06:06.310 --> 00:06:06.320 align:start position:0% on space we need to that we need a way 00:06:06.320 --> 00:06:08.580 align:start position:0% on space we need to that we need a way to<00:06:06.380> learn<00:06:06.560> about<00:06:06.710> the<00:06:06.979> youth<00:06:07.070> one<00:06:07.570> chain 00:06:08.580 --> 00:06:08.590 align:start position:0% to learn about the youth one chain 00:06:08.590 --> 00:06:12.960 align:start position:0% to learn about the youth one chain that's<00:06:09.590> why<00:06:09.740> I'm<00:06:09.800> a<00:06:09.860> bigger<00:06:10.100> by<00:06:10.250> eath<00:06:10.400> one<00:06:10.580> data 00:06:12.960 --> 00:06:12.970 align:start position:0% 00:06:12.970 --> 00:06:17.490 align:start position:0% so<00:06:13.970> the<00:06:14.060> first<00:06:14.240> bit<00:06:14.419> is<00:06:14.960> the<00:06:15.110> finality<00:06:15.410> engine 00:06:17.490 --> 00:06:17.500 align:start position:0% so the first bit is the finality engine 00:06:17.500 --> 00:06:19.840 align:start position:0% so the first bit is the finality engine so<00:06:18.500> we'll<00:06:18.830> quickly<00:06:18.979> goes<00:06:19.340> to<00:06:19.430> this<00:06:19.520> finality 00:06:19.840 --> 00:06:19.850 align:start position:0% so we'll quickly goes to this finality 00:06:19.850 --> 00:06:23.980 align:start position:0% so we'll quickly goes to this finality thing<00:06:20.290> again<00:06:21.290> here's<00:06:21.650> a<00:06:21.710> blockchain<00:06:22.990> doesn't 00:06:23.980 --> 00:06:23.990 align:start position:0% thing again here's a blockchain doesn't 00:06:23.990 --> 00:06:25.210 align:start position:0% thing again here's a blockchain doesn't really<00:06:24.110> matter<00:06:24.320> which<00:06:24.440> one<00:06:24.530> proves<00:06:25.010> big 00:06:25.210 --> 00:06:25.220 align:start position:0% really matter which one proves big 00:06:25.220 --> 00:06:27.940 align:start position:0% really matter which one proves big blockchain<00:06:25.610> you<00:06:26.390> know<00:06:26.510> blocks<00:06:26.840> blocks<00:06:27.740> have 00:06:27.940 --> 00:06:27.950 align:start position:0% blockchain you know blocks blocks have 00:06:27.950 --> 00:06:30.490 align:start position:0% blockchain you know blocks blocks have links<00:06:28.250> to<00:06:28.460> their<00:06:28.610> previous<00:06:28.940> block<00:06:29.200> so<00:06:30.200> the 00:06:30.490 --> 00:06:30.500 align:start position:0% links to their previous block so the 00:06:30.500 --> 00:06:32.290 align:start position:0% links to their previous block so the idea<00:06:30.740> here<00:06:31.070> is<00:06:31.100> that<00:06:31.250> these<00:06:31.640> arrows<00:06:31.910> are 00:06:32.290 --> 00:06:32.300 align:start position:0% idea here is that these arrows are 00:06:32.300 --> 00:06:35.020 align:start position:0% idea here is that these arrows are indicating<00:06:32.510> that<00:06:33.610> the<00:06:34.610> previous<00:06:34.880> dick 00:06:35.020 --> 00:06:35.030 align:start position:0% indicating that the previous dick 00:06:35.030 --> 00:06:36.670 align:start position:0% indicating that the previous dick validators<00:06:35.510> in<00:06:35.630> this<00:06:35.750> system<00:06:35.900> are<00:06:36.290> like 00:06:36.670 --> 00:06:36.680 align:start position:0% validators in this system are like 00:06:36.680 --> 00:06:38.110 align:start position:0% validators in this system are like making<00:06:36.979> these<00:06:37.130> these<00:06:37.370> messages<00:06:37.820> these<00:06:38.000> a 00:06:38.110 --> 00:06:38.120 align:start position:0% making these these messages these a 00:06:38.120 --> 00:06:40.450 align:start position:0% making these these messages these a statistician<00:06:38.390> as<00:06:38.660> test<00:06:39.020> Asians<00:06:39.320> is<00:06:39.590> the<00:06:40.280> term 00:06:40.450 --> 00:06:40.460 align:start position:0% statistician as test Asians is the term 00:06:40.460 --> 00:06:42.940 align:start position:0% statistician as test Asians is the term you<00:06:40.550> may<00:06:40.669> have<00:06:40.760> heard<00:06:41.289> they're<00:06:42.289> like<00:06:42.470> yeah<00:06:42.650> I 00:06:42.940 --> 00:06:42.950 align:start position:0% you may have heard they're like yeah I 00:06:42.950 --> 00:06:44.800 align:start position:0% you may have heard they're like yeah I think<00:06:43.280> like<00:06:43.580> this<00:06:43.910> is<00:06:43.970> the<00:06:44.210> next<00:06:44.419> block<00:06:44.570> in<00:06:44.720> the 00:06:44.800 --> 00:06:44.810 align:start position:0% think like this is the next block in the 00:06:44.810 --> 00:06:45.429 align:start position:0% think like this is the next block in the chain 00:06:45.429 --> 00:06:45.439 align:start position:0% chain 00:06:45.439 --> 00:06:49.689 align:start position:0% chain and<00:06:47.110> that's<00:06:48.110> kind<00:06:48.379> of<00:06:48.499> one<00:06:49.369> of<00:06:49.399> their<00:06:49.550> main 00:06:49.689 --> 00:06:49.699 align:start position:0% and that's kind of one of their main 00:06:49.699 --> 00:06:52.089 align:start position:0% and that's kind of one of their main duties<00:06:49.969> in<00:06:50.119> life<00:06:50.300> as<00:06:50.509> a<00:06:50.719> validator<00:06:51.169> is<00:06:51.379> to<00:06:51.979> like 00:06:52.089 --> 00:06:52.099 align:start position:0% duties in life as a validator is to like 00:06:52.099 --> 00:06:54.519 align:start position:0% duties in life as a validator is to like make<00:06:52.339> these<00:06:52.610> messages<00:06:53.029> because<00:06:53.599> as<00:06:53.899> we'll<00:06:54.409> see 00:06:54.519 --> 00:06:54.529 align:start position:0% make these messages because as we'll see 00:06:54.529 --> 00:06:56.019 align:start position:0% make these messages because as we'll see in<00:06:54.559> a<00:06:54.649> second<00:06:55.039> we<00:06:55.309> can<00:06:55.489> kind<00:06:55.669> of<00:06:55.729> look<00:06:55.879> at<00:06:55.969> these 00:06:56.019 --> 00:06:56.029 align:start position:0% in a second we can kind of look at these 00:06:56.029 --> 00:06:59.139 align:start position:0% in a second we can kind of look at these messages<00:06:56.479> and<00:06:56.689> figure<00:06:57.139> out<00:06:57.169> if<00:06:58.159> we<00:06:58.969> hit<00:06:59.089> our 00:06:59.139 --> 00:06:59.149 align:start position:0% messages and figure out if we hit our 00:06:59.149 --> 00:07:05.320 align:start position:0% messages and figure out if we hit our like<00:06:59.419> security<00:06:59.779> thresholds<00:07:00.139> or<00:07:00.229> not<00:07:03.699> so<00:07:04.699> the 00:07:05.320 --> 00:07:05.330 align:start position:0% like security thresholds or not so the 00:07:05.330 --> 00:07:07.809 align:start position:0% like security thresholds or not so the the<00:07:05.749> next<00:07:06.649> bit<00:07:06.769> of<00:07:06.800> finality<00:07:07.159> is<00:07:07.459> this<00:07:07.610> process 00:07:07.809 --> 00:07:07.819 align:start position:0% the next bit of finality is this process 00:07:07.819 --> 00:07:09.909 align:start position:0% the next bit of finality is this process called<00:07:08.149> justification<00:07:08.899> and<00:07:09.139> these<00:07:09.709> are<00:07:09.800> these 00:07:09.909 --> 00:07:09.919 align:start position:0% called justification and these are these 00:07:09.919 --> 00:07:12.549 align:start position:0% called justification and these are these thresholds<00:07:10.369> I<00:07:10.459> was<00:07:10.580> just<00:07:10.699> talking<00:07:10.969> about<00:07:11.559> so 00:07:12.549 --> 00:07:12.559 align:start position:0% thresholds I was just talking about so 00:07:12.559 --> 00:07:15.729 align:start position:0% thresholds I was just talking about so what<00:07:13.489> we're<00:07:13.639> gonna<00:07:13.699> say<00:07:14.089> is<00:07:14.389> that<00:07:14.749> you<00:07:15.589> know 00:07:15.729 --> 00:07:15.739 align:start position:0% what we're gonna say is that you know 00:07:15.739 --> 00:07:18.399 align:start position:0% what we're gonna say is that you know let's<00:07:16.339> say<00:07:16.489> there's<00:07:16.729> like<00:07:17.019> you<00:07:18.019> know<00:07:18.050> a<00:07:18.169> group 00:07:18.399 --> 00:07:18.409 align:start position:0% let's say there's like you know a group 00:07:18.409 --> 00:07:21.419 align:start position:0% let's say there's like you know a group of<00:07:18.529> validators<00:07:19.009> if<00:07:19.300> two-thirds<00:07:20.300> of<00:07:20.449> them<00:07:20.599> all 00:07:21.419 --> 00:07:21.429 align:start position:0% of validators if two-thirds of them all 00:07:21.429 --> 00:07:23.889 align:start position:0% of validators if two-thirds of them all make<00:07:22.429> an<00:07:22.550> attestation<00:07:22.789> or<00:07:23.389> this<00:07:23.569> you<00:07:23.779> know 00:07:23.889 --> 00:07:23.899 align:start position:0% make an attestation or this you know 00:07:23.899 --> 00:07:26.350 align:start position:0% make an attestation or this you know this<00:07:24.139> claim<00:07:24.409> that<00:07:25.129> this<00:07:25.550> next<00:07:25.879> block<00:07:25.969> is<00:07:26.239> in 00:07:26.350 --> 00:07:26.360 align:start position:0% this claim that this next block is in 00:07:26.360 --> 00:07:29.229 align:start position:0% this claim that this next block is in the<00:07:26.479> main<00:07:26.629> chain<00:07:27.399> and<00:07:28.399> if<00:07:28.759> two-thirds<00:07:28.999> of<00:07:29.149> them 00:07:29.229 --> 00:07:29.239 align:start position:0% the main chain and if two-thirds of them 00:07:29.239 --> 00:07:30.279 align:start position:0% the main chain and if two-thirds of them do<00:07:29.389> that<00:07:29.539> then<00:07:29.779> we're<00:07:29.899> going<00:07:30.050> to<00:07:30.079> say<00:07:30.259> that 00:07:30.279 --> 00:07:30.289 align:start position:0% do that then we're going to say that 00:07:30.289 --> 00:07:32.319 align:start position:0% do that then we're going to say that it's<00:07:30.679> justified<00:07:30.979> and<00:07:31.879> that's<00:07:32.179> why<00:07:32.269> I'm 00:07:32.319 --> 00:07:32.329 align:start position:0% it's justified and that's why I'm 00:07:32.329 --> 00:07:35.739 align:start position:0% it's justified and that's why I'm indicating<00:07:32.689> here<00:07:32.869> by<00:07:32.989> those<00:07:33.199> gold<00:07:33.860> arrow<00:07:34.749> you 00:07:35.739 --> 00:07:35.749 align:start position:0% indicating here by those gold arrow you 00:07:35.749 --> 00:07:37.959 align:start position:0% indicating here by those gold arrow you see<00:07:35.779> down<00:07:36.110> here<00:07:36.169> this<00:07:36.649> one's<00:07:36.800> still<00:07:36.979> blue<00:07:37.219> so 00:07:37.959 --> 00:07:37.969 align:start position:0% see down here this one's still blue so 00:07:37.969 --> 00:07:39.069 align:start position:0% see down here this one's still blue so like<00:07:38.059> maybe<00:07:38.179> we're<00:07:38.449> at<00:07:38.689> the<00:07:38.779> head<00:07:38.899> of<00:07:39.019> the 00:07:39.069 --> 00:07:39.079 align:start position:0% like maybe we're at the head of the 00:07:39.079 --> 00:07:41.739 align:start position:0% like maybe we're at the head of the chain<00:07:39.319> and<00:07:39.759> the<00:07:40.759> others<00:07:40.999> are<00:07:41.209> working<00:07:41.449> on<00:07:41.569> it 00:07:41.739 --> 00:07:41.749 align:start position:0% chain and the others are working on it 00:07:41.749 --> 00:07:42.909 align:start position:0% chain and the others are working on it but<00:07:41.779> not<00:07:42.019> everyone<00:07:42.289> has<00:07:42.439> like<00:07:42.559> made<00:07:42.769> their 00:07:42.909 --> 00:07:42.919 align:start position:0% but not everyone has like made their 00:07:42.919 --> 00:07:44.709 align:start position:0% but not everyone has like made their attestation<00:07:43.249> yet<00:07:43.550> right<00:07:43.729> so<00:07:44.389> we're<00:07:44.509> not<00:07:44.599> quite 00:07:44.709 --> 00:07:44.719 align:start position:0% attestation yet right so we're not quite 00:07:44.719 --> 00:07:48.879 align:start position:0% attestation yet right so we're not quite there<00:07:46.899> something<00:07:47.899> also<00:07:48.019> to<00:07:48.169> note<00:07:48.409> is<00:07:48.589> that<00:07:48.619> you 00:07:48.879 --> 00:07:48.889 align:start position:0% there something also to note is that you 00:07:48.889 --> 00:07:50.709 align:start position:0% there something also to note is that you can<00:07:49.009> actually<00:07:49.129> like<00:07:49.429> you<00:07:49.759> know<00:07:49.789> skip<00:07:50.149> box<00:07:50.449> here 00:07:50.709 --> 00:07:50.719 align:start position:0% can actually like you know skip box here 00:07:50.719 --> 00:07:53.379 align:start position:0% can actually like you know skip box here so<00:07:50.899> like<00:07:51.849> this<00:07:52.849> would<00:07:52.999> actually<00:07:53.029> suggest 00:07:53.379 --> 00:07:53.389 align:start position:0% so like this would actually suggest 00:07:53.389 --> 00:07:55.329 align:start position:0% so like this would actually suggest there<00:07:54.050> are<00:07:54.110> no<00:07:54.199> messages<00:07:54.829> made<00:07:54.949> no<00:07:55.249> matter 00:07:55.329 --> 00:07:55.339 align:start position:0% there are no messages made no matter 00:07:55.339 --> 00:07:58.959 align:start position:0% there are no messages made no matter stations<00:07:55.849> and<00:07:57.069> that's<00:07:58.069> okay<00:07:58.339> you<00:07:58.699> can<00:07:58.729> just 00:07:58.959 --> 00:07:58.969 align:start position:0% stations and that's okay you can just 00:07:58.969 --> 00:08:04.419 align:start position:0% stations and that's okay you can just keep<00:07:59.089> going<00:07:59.119> as<00:07:59.449> you<00:07:59.569> see<00:08:03.039> now<00:08:04.039> we<00:08:04.099> get<00:08:04.279> to<00:08:04.369> the 00:08:04.419 --> 00:08:04.429 align:start position:0% keep going as you see now we get to the 00:08:04.429 --> 00:08:08.859 align:start position:0% keep going as you see now we get to the fun<00:08:04.550> part<00:08:04.610> finality<00:08:06.669> there's<00:08:07.669> like<00:08:07.939> this<00:08:08.209> very 00:08:08.859 --> 00:08:08.869 align:start position:0% fun part finality there's like this very 00:08:08.869 --> 00:08:10.540 align:start position:0% fun part finality there's like this very special<00:08:09.229> rule<00:08:09.409> that<00:08:09.619> you<00:08:10.069> just<00:08:10.219> have<00:08:10.339> to<00:08:10.429> learn 00:08:10.540 --> 00:08:10.550 align:start position:0% special rule that you just have to learn 00:08:10.550 --> 00:08:13.709 align:start position:0% special rule that you just have to learn and<00:08:10.789> basically<00:08:11.449> it's<00:08:11.679> the<00:08:12.679> rule<00:08:12.829> is<00:08:13.069> if<00:08:13.429> I 00:08:13.709 --> 00:08:13.719 align:start position:0% and basically it's the rule is if I 00:08:13.719 --> 00:08:17.409 align:start position:0% and basically it's the rule is if I justify<00:08:14.719> on<00:08:15.499> top<00:08:16.339> of<00:08:16.579> something<00:08:16.909> justified 00:08:17.409 --> 00:08:17.419 align:start position:0% justify on top of something justified 00:08:17.419 --> 00:08:19.600 align:start position:0% justify on top of something justified then<00:08:18.259> this<00:08:18.439> first<00:08:18.589> one<00:08:18.800> is<00:08:18.860> finalized<00:08:19.279> and 00:08:19.600 --> 00:08:19.610 align:start position:0% then this first one is finalized and 00:08:19.610 --> 00:08:21.999 align:start position:0% then this first one is finalized and this<00:08:20.569> is<00:08:20.689> just<00:08:20.869> the<00:08:21.319> pattern<00:08:21.499> that<00:08:21.649> you<00:08:21.860> have 00:08:21.999 --> 00:08:22.009 align:start position:0% this is just the pattern that you have 00:08:22.009 --> 00:08:25.509 align:start position:0% this is just the pattern that you have to<00:08:22.129> like<00:08:22.429> apply<00:08:23.239> and<00:08:24.189> I'll<00:08:25.189> show<00:08:25.339> you<00:08:25.429> in<00:08:25.489> a 00:08:25.509 --> 00:08:25.519 align:start position:0% to like apply and I'll show you in a 00:08:25.519 --> 00:08:26.919 align:start position:0% to like apply and I'll show you in a second<00:08:25.759> how<00:08:26.059> we<00:08:26.119> get<00:08:26.269> security<00:08:26.629> out<00:08:26.719> of<00:08:26.809> this 00:08:26.919 --> 00:08:26.929 align:start position:0% second how we get security out of this 00:08:26.929 --> 00:08:28.959 align:start position:0% second how we get security out of this but<00:08:27.649> essentially<00:08:28.099> you<00:08:28.369> know<00:08:28.489> so<00:08:28.669> we<00:08:28.759> can<00:08:28.879> say 00:08:28.959 --> 00:08:28.969 align:start position:0% but essentially you know so we can say 00:08:28.969 --> 00:08:30.459 align:start position:0% but essentially you know so we can say okay<00:08:29.239> justification<00:08:29.869> on<00:08:29.959> top<00:08:30.110> of<00:08:30.229> this<00:08:30.289> one 00:08:30.459 --> 00:08:30.469 align:start position:0% okay justification on top of this one 00:08:30.469 --> 00:08:34.089 align:start position:0% okay justification on top of this one this<00:08:30.679> is<00:08:30.829> finalized<00:08:32.259> justification<00:08:33.259> so<00:08:33.919> thing 00:08:34.089 --> 00:08:34.099 align:start position:0% this is finalized justification so thing 00:08:34.099 --> 00:08:36.219 align:start position:0% this is finalized justification so thing is<00:08:34.250> it's<00:08:34.729> not<00:08:34.880> justification<00:08:35.300> sort<00:08:35.930> of<00:08:36.019> in 00:08:36.219 --> 00:08:36.229 align:start position:0% is it's not justification sort of in 00:08:36.229 --> 00:08:37.899 align:start position:0% is it's not justification sort of in sequence<00:08:36.649> but<00:08:36.889> like<00:08:37.130> direct<00:08:37.550> sequence 00:08:37.899 --> 00:08:37.909 align:start position:0% sequence but like direct sequence 00:08:37.909 --> 00:08:42.029 align:start position:0% sequence but like direct sequence meaning<00:08:38.740> this<00:08:39.909> this<00:08:40.909> block<00:08:41.149> is<00:08:41.300> not<00:08:41.449> finalized 00:08:42.029 --> 00:08:42.039 align:start position:0% meaning this this block is not finalized 00:08:42.039 --> 00:08:45.100 align:start position:0% meaning this this block is not finalized because<00:08:43.389> there<00:08:44.389> was<00:08:44.509> not<00:08:44.660> like<00:08:44.779> a<00:08:44.809> direct 00:08:45.100 --> 00:08:45.110 align:start position:0% because there was not like a direct 00:08:45.110 --> 00:08:46.569 align:start position:0% because there was not like a direct descendant<00:08:45.439> of<00:08:45.500> this<00:08:45.649> that<00:08:46.069> was<00:08:46.160> justified 00:08:46.569 --> 00:08:46.579 align:start position:0% descendant of this that was justified 00:08:46.579 --> 00:08:48.879 align:start position:0% descendant of this that was justified then<00:08:47.569> we<00:08:47.660> see<00:08:47.809> down<00:08:47.930> here<00:08:47.990> we<00:08:48.379> like<00:08:48.500> skip<00:08:48.709> some 00:08:48.879 --> 00:08:48.889 align:start position:0% then we see down here we like skip some 00:08:48.889 --> 00:08:50.499 align:start position:0% then we see down here we like skip some blocks<00:08:49.100> maybe<00:08:49.459> there<00:08:49.699> is<00:08:49.790> like<00:08:50.000> just 00:08:50.499 --> 00:08:50.509 align:start position:0% blocks maybe there is like just 00:08:50.509 --> 00:08:51.549 align:start position:0% blocks maybe there is like just somewhere<00:08:50.720> to<00:08:50.779> never<00:08:50.959> claim<00:08:51.170> to<00:08:51.199> see<00:08:51.410> right 00:08:51.549 --> 00:08:51.559 align:start position:0% somewhere to never claim to see right 00:08:51.559 --> 00:08:57.129 align:start position:0% somewhere to never claim to see right and<00:08:53.500> then<00:08:54.500> we<00:08:54.559> keep<00:08:54.709> going<00:08:55.000> so<00:08:56.000> then<00:08:56.300> this 00:08:57.129 --> 00:08:57.139 align:start position:0% and then we keep going so then this 00:08:57.139 --> 00:08:58.410 align:start position:0% and then we keep going so then this block<00:08:57.410> was<00:08:57.589> justified 00:08:58.410 --> 00:08:58.420 align:start position:0% block was justified 00:08:58.420 --> 00:09:01.620 align:start position:0% block was justified from<00:08:59.200> back<00:08:59.350> here<00:08:59.820> we<00:09:00.820> justified<00:09:01.240> directly<00:09:01.540> on 00:09:01.620 --> 00:09:01.630 align:start position:0% from back here we justified directly on 00:09:01.630 --> 00:09:02.640 align:start position:0% from back here we justified directly on top<00:09:01.780> of<00:09:01.930> it<00:09:02.050> so<00:09:02.230> this<00:09:02.350> one's<00:09:02.530> actually 00:09:02.640 --> 00:09:02.650 align:start position:0% top of it so this one's actually 00:09:02.650 --> 00:09:04.200 align:start position:0% top of it so this one's actually finalized<00:09:03.130> and<00:09:03.430> then<00:09:03.700> we<00:09:03.790> have<00:09:03.940> the<00:09:04.030> situation 00:09:04.200 --> 00:09:04.210 align:start position:0% finalized and then we have the situation 00:09:04.210 --> 00:09:06.180 align:start position:0% finalized and then we have the situation where<00:09:04.660> like<00:09:04.780> we're<00:09:05.290> trying<00:09:05.530> to<00:09:05.620> build 00:09:06.180 --> 00:09:06.190 align:start position:0% where like we're trying to build 00:09:06.190 --> 00:09:08.190 align:start position:0% where like we're trying to build finality<00:09:06.550> on<00:09:07.000> the<00:09:07.630> head<00:09:07.750> of<00:09:07.810> the<00:09:07.870> chain<00:09:08.020> down 00:09:08.190 --> 00:09:08.200 align:start position:0% finality on the head of the chain down 00:09:08.200 --> 00:09:14.460 align:start position:0% finality on the head of the chain down here<00:09:12.480> now<00:09:13.480> we<00:09:13.540> get<00:09:13.750> to<00:09:13.870> the<00:09:13.960> bit<00:09:14.110> where<00:09:14.140> the 00:09:14.460 --> 00:09:14.470 align:start position:0% here now we get to the bit where the 00:09:14.470 --> 00:09:16.110 align:start position:0% here now we get to the bit where the security<00:09:14.770> comes<00:09:14.950> in<00:09:15.130> you've<00:09:15.700> probably<00:09:15.940> heard 00:09:16.110 --> 00:09:16.120 align:start position:0% security comes in you've probably heard 00:09:16.120 --> 00:09:18.210 align:start position:0% security comes in you've probably heard of<00:09:16.240> these<00:09:16.330> slashing<00:09:16.690> conditions<00:09:17.080> and<00:09:18.070> these 00:09:18.210 --> 00:09:18.220 align:start position:0% of these slashing conditions and these 00:09:18.220 --> 00:09:21.660 align:start position:0% of these slashing conditions and these are<00:09:18.400> rules<00:09:18.550> that<00:09:18.760> basically<00:09:19.230> enforce<00:09:20.670> really 00:09:21.660 --> 00:09:21.670 align:start position:0% are rules that basically enforce really 00:09:21.670 --> 00:09:24.890 align:start position:0% are rules that basically enforce really this<00:09:21.790> here<00:09:22.180> what<00:09:23.020> it's<00:09:23.140> saying<00:09:23.290> is<00:09:23.560> that<00:09:23.590> as 00:09:24.890 --> 00:09:24.900 align:start position:0% this here what it's saying is that as 00:09:24.900 --> 00:09:28.020 align:start position:0% this here what it's saying is that as long<00:09:25.900> as<00:09:26.200> some<00:09:26.950> my<00:09:27.070> conditions<00:09:27.490> hold<00:09:27.670> in<00:09:27.910> terms 00:09:28.020 --> 00:09:28.030 align:start position:0% long as some my conditions hold in terms 00:09:28.030 --> 00:09:30.330 align:start position:0% long as some my conditions hold in terms of<00:09:28.210> like<00:09:28.360> these<00:09:28.750> patterns<00:09:29.170> of<00:09:29.380> justifications 00:09:30.330 --> 00:09:30.340 align:start position:0% of like these patterns of justifications 00:09:30.340 --> 00:09:33.030 align:start position:0% of like these patterns of justifications and<00:09:30.580> voting's<00:09:30.850> you<00:09:31.780> can't<00:09:31.990> finalize<00:09:32.290> two 00:09:33.030 --> 00:09:33.040 align:start position:0% and voting's you can't finalize two 00:09:33.040 --> 00:09:35.670 align:start position:0% and voting's you can't finalize two conflicting<00:09:33.610> blocks<00:09:34.110> so<00:09:35.110> let's<00:09:35.320> let's<00:09:35.560> say 00:09:35.670 --> 00:09:35.680 align:start position:0% conflicting blocks so let's let's say 00:09:35.680 --> 00:09:36.690 align:start position:0% conflicting blocks so let's let's say there's<00:09:35.860> a<00:09:35.920> fork<00:09:36.130> here<00:09:36.340> right 00:09:36.690 --> 00:09:36.700 align:start position:0% there's a fork here right 00:09:36.700 --> 00:09:38.370 align:start position:0% there's a fork here right these<00:09:36.880> blocks<00:09:37.030> are<00:09:37.180> at<00:09:37.270> the<00:09:37.330> same<00:09:37.450> height<00:09:37.900> you 00:09:38.370 --> 00:09:38.380 align:start position:0% these blocks are at the same height you 00:09:38.380 --> 00:09:40.160 align:start position:0% these blocks are at the same height you can't<00:09:38.590> finalize<00:09:38.830> two<00:09:39.310> conflicting<00:09:39.580> blocks 00:09:40.160 --> 00:09:40.170 align:start position:0% can't finalize two conflicting blocks 00:09:40.170 --> 00:09:43.380 align:start position:0% can't finalize two conflicting blocks without<00:09:41.170> either<00:09:41.580> well<00:09:42.580> really<00:09:42.790> without<00:09:43.150> at 00:09:43.380 --> 00:09:43.390 align:start position:0% without either well really without at 00:09:43.390 --> 00:09:45.210 align:start position:0% without either well really without at least<00:09:43.600> a<00:09:43.690> third<00:09:43.870> of<00:09:43.930> the<00:09:44.050> validators<00:09:44.500> losing 00:09:45.210 --> 00:09:45.220 align:start position:0% least a third of the validators losing 00:09:45.220 --> 00:09:47.820 align:start position:0% least a third of the validators losing their<00:09:45.910> sake<00:09:46.540> so<00:09:47.230> that's<00:09:47.380> why<00:09:47.470> I'm<00:09:47.560> trying<00:09:47.680> to 00:09:47.820 --> 00:09:47.830 align:start position:0% their sake so that's why I'm trying to 00:09:47.830 --> 00:09:49.950 align:start position:0% their sake so that's why I'm trying to show<00:09:47.980> over<00:09:48.160> here<00:09:48.210> we<00:09:49.210> like<00:09:49.360> burned<00:09:49.600> a<00:09:49.690> third<00:09:49.870> of 00:09:49.950 --> 00:09:49.960 align:start position:0% show over here we like burned a third of 00:09:49.960 --> 00:09:52.730 align:start position:0% show over here we like burned a third of the<00:09:50.050> eath<00:09:50.200> that<00:09:50.440> was<00:09:50.530> validating<00:09:51.070> not<00:09:51.970> good 00:09:52.730 --> 00:09:52.740 align:start position:0% the eath that was validating not good 00:09:52.740 --> 00:09:55.230 align:start position:0% the eath that was validating not good and<00:09:53.740> we<00:09:54.070> can<00:09:54.100> actually<00:09:54.460> prove<00:09:54.640> this<00:09:54.700> there 00:09:55.230 --> 00:09:55.240 align:start position:0% and we can actually prove this there 00:09:55.240 --> 00:09:56.610 align:start position:0% and we can actually prove this there have<00:09:55.330> been<00:09:55.420> met<00:09:55.630> like<00:09:55.900> mathematical<00:09:56.380> proofs 00:09:56.610 --> 00:09:56.620 align:start position:0% have been met like mathematical proofs 00:09:56.620 --> 00:09:57.930 align:start position:0% have been met like mathematical proofs there's<00:09:56.950> working<00:09:57.430> sort<00:09:57.580> of<00:09:57.670> formal 00:09:57.930 --> 00:09:57.940 align:start position:0% there's working sort of formal 00:09:57.940 --> 00:10:00.360 align:start position:0% there's working sort of formal verification<00:09:58.420> of<00:09:58.930> these<00:09:59.080> systems<00:09:59.410> all<00:10:00.190> this 00:10:00.360 --> 00:10:00.370 align:start position:0% verification of these systems all this 00:10:00.370 --> 00:10:06.150 align:start position:0% verification of these systems all this good<00:10:00.550> stuff<00:10:04.140> and<00:10:05.140> really<00:10:05.620> yeah<00:10:05.800> just<00:10:06.010> like 00:10:06.150 --> 00:10:06.160 align:start position:0% good stuff and really yeah just like 00:10:06.160 --> 00:10:08.310 align:start position:0% good stuff and really yeah just like sketch<00:10:06.370> the<00:10:06.520> intuition<00:10:06.910> here<00:10:07.060> like<00:10:07.300> as<00:10:07.540> long 00:10:08.310 --> 00:10:08.320 align:start position:0% sketch the intuition here like as long 00:10:08.320 --> 00:10:10.740 align:start position:0% sketch the intuition here like as long as<00:10:08.560> we<00:10:09.130> haven't<00:10:09.520> had<00:10:10.390> one<00:10:10.450> of<00:10:10.540> these<00:10:10.630> attacks 00:10:10.740 --> 00:10:10.750 align:start position:0% as we haven't had one of these attacks 00:10:10.750 --> 00:10:13.020 align:start position:0% as we haven't had one of these attacks we<00:10:11.230> haven't<00:10:11.500> you<00:10:12.100> know<00:10:12.190> had<00:10:12.430> one<00:10:12.580> these<00:10:12.670> events 00:10:13.020 --> 00:10:13.030 align:start position:0% we haven't you know had one these events 00:10:13.030 --> 00:10:15.440 align:start position:0% we haven't you know had one these events where<00:10:13.120> all<00:10:13.300> these<00:10:13.390> validations<00:10:13.690> are<00:10:13.870> slash 00:10:15.440 --> 00:10:15.450 align:start position:0% where all these validations are slash 00:10:15.450 --> 00:10:19.020 align:start position:0% where all these validations are slash then<00:10:16.770> we<00:10:17.770> have<00:10:17.920> sort<00:10:18.070> of<00:10:18.160> one<00:10:18.400> single<00:10:18.640> history 00:10:19.020 --> 00:10:19.030 align:start position:0% then we have sort of one single history 00:10:19.030 --> 00:10:20.880 align:start position:0% then we have sort of one single history and<00:10:19.240> like<00:10:19.660> here<00:10:19.900> we<00:10:20.020> see<00:10:20.200> this<00:10:20.320> is<00:10:20.380> like<00:10:20.680> what's 00:10:20.880 --> 00:10:20.890 align:start position:0% and like here we see this is like what's 00:10:20.890 --> 00:10:22.830 align:start position:0% and like here we see this is like what's supposed<00:10:21.130> to<00:10:21.250> happen<00:10:21.310> even<00:10:22.300> if<00:10:22.420> there<00:10:22.630> was<00:10:22.810> a 00:10:22.830 --> 00:10:22.840 align:start position:0% supposed to happen even if there was a 00:10:22.840 --> 00:10:25.110 align:start position:0% supposed to happen even if there was a fork<00:10:23.230> sort<00:10:23.500> of<00:10:23.560> broadcast<00:10:23.920> on<00:10:24.070> the<00:10:24.130> network 00:10:25.110 --> 00:10:25.120 align:start position:0% fork sort of broadcast on the network 00:10:25.120 --> 00:10:28.310 align:start position:0% fork sort of broadcast on the network what<00:10:25.420> still<00:10:25.600> happens<00:10:25.960> is<00:10:26.230> that<00:10:26.500> you<00:10:27.040> know<00:10:27.120> 2/3 00:10:28.310 --> 00:10:28.320 align:start position:0% what still happens is that you know 2/3 00:10:28.320 --> 00:10:30.780 align:start position:0% what still happens is that you know 2/3 majority<00:10:29.320> of<00:10:29.740> the<00:10:29.830> validators<00:10:30.250> went<00:10:30.670> down 00:10:30.780 --> 00:10:30.790 align:start position:0% majority of the validators went down 00:10:30.790 --> 00:10:33.090 align:start position:0% majority of the validators went down this<00:10:30.910> work<00:10:31.200> they<00:10:32.200> did<00:10:32.350> not<00:10:32.440> go<00:10:32.560> down<00:10:32.590> this<00:10:32.860> work 00:10:33.090 --> 00:10:33.100 align:start position:0% this work they did not go down this work 00:10:33.100 --> 00:10:35.040 align:start position:0% this work they did not go down this work and<00:10:33.340> so<00:10:34.300> as<00:10:34.390> long<00:10:34.540> as<00:10:34.600> you<00:10:34.780> know<00:10:34.870> who<00:10:34.960> the 00:10:35.040 --> 00:10:35.050 align:start position:0% and so as long as you know who the 00:10:35.050 --> 00:10:36.030 align:start position:0% and so as long as you know who the validators<00:10:35.410> are<00:10:35.560> you<00:10:35.800> can<00:10:35.920> actually 00:10:36.030 --> 00:10:36.040 align:start position:0% validators are you can actually 00:10:36.040 --> 00:10:38.070 align:start position:0% validators are you can actually determine<00:10:36.430> this<00:10:36.670> based<00:10:37.450> on<00:10:37.570> the<00:10:37.660> messages<00:10:37.960> on 00:10:38.070 --> 00:10:38.080 align:start position:0% determine this based on the messages on 00:10:38.080 --> 00:10:40.110 align:start position:0% determine this based on the messages on the<00:10:38.140> network<00:10:38.410> and<00:10:38.620> figure<00:10:39.190> out<00:10:39.430> the<00:10:39.940> true 00:10:40.110 --> 00:10:40.120 align:start position:0% the network and figure out the true 00:10:40.120 --> 00:10:44.680 align:start position:0% the network and figure out the true chain 00:10:44.680 --> 00:10:44.690 align:start position:0% 00:10:44.690 --> 00:10:48.189 align:start position:0% and<00:10:45.350> to<00:10:45.500> give<00:10:45.620> you<00:10:45.709> some<00:10:45.740> sense<00:10:46.100> a<00:10:47.199> healthy 00:10:48.189 --> 00:10:48.199 align:start position:0% and to give you some sense a healthy 00:10:48.199 --> 00:10:50.199 align:start position:0% and to give you some sense a healthy amount<00:10:48.379> of<00:10:48.500> eath<00:10:48.709> that<00:10:48.920> might<00:10:49.040> be<00:10:49.220> validating 00:10:50.199 --> 00:10:50.209 align:start position:0% amount of eath that might be validating 00:10:50.209 --> 00:10:52.720 align:start position:0% amount of eath that might be validating in<00:10:50.420> each<00:10:50.569> toe<00:10:50.750> is<00:10:51.079> say<00:10:51.350> 10<00:10:51.529> million<00:10:51.769> so<00:10:52.579> then 00:10:52.720 --> 00:10:52.730 align:start position:0% in each toe is say 10 million so then 00:10:52.730 --> 00:10:54.730 align:start position:0% in each toe is say 10 million so then for<00:10:53.269> when<00:10:53.389> his<00:10:53.540> attacks<00:10:53.779> to<00:10:54.050> be<00:10:54.079> successful 00:10:54.730 --> 00:10:54.740 align:start position:0% for when his attacks to be successful 00:10:54.740 --> 00:10:56.980 align:start position:0% for when his attacks to be successful right<00:10:54.860> that's<00:10:55.699> a<00:10:56.180> third<00:10:56.509> of<00:10:56.629> the<00:10:56.690> youth<00:10:56.810> has 00:10:56.980 --> 00:10:56.990 align:start position:0% right that's a third of the youth has 00:10:56.990 --> 00:11:00.280 align:start position:0% right that's a third of the youth has been<00:10:57.139> burned<00:10:57.379> 3.3<00:10:58.069> million<00:10:58.250> based<00:10:59.149> on<00:10:59.360> numbers 00:11:00.280 --> 00:11:00.290 align:start position:0% been burned 3.3 million based on numbers 00:11:00.290 --> 00:11:01.929 align:start position:0% been burned 3.3 million based on numbers yesterday<00:11:00.680> that's<00:11:00.889> over<00:11:01.129> 630<00:11:01.699> million 00:11:01.929 --> 00:11:01.939 align:start position:0% yesterday that's over 630 million 00:11:01.939 --> 00:11:04.749 align:start position:0% yesterday that's over 630 million dollars<00:11:02.500> and<00:11:03.500> this<00:11:03.800> is<00:11:03.949> sort<00:11:04.160> of<00:11:04.250> per<00:11:04.430> attack 00:11:04.749 --> 00:11:04.759 align:start position:0% dollars and this is sort of per attack 00:11:04.759 --> 00:11:11.710 align:start position:0% dollars and this is sort of per attack so<00:11:05.600> quite<00:11:06.170> expensive<00:11:10.089> okay<00:11:11.089> that<00:11:11.300> was<00:11:11.449> a<00:11:11.480> very 00:11:11.710 --> 00:11:11.720 align:start position:0% so quite expensive okay that was a very 00:11:11.720 --> 00:11:15.009 align:start position:0% so quite expensive okay that was a very compressed<00:11:12.519> explanation<00:11:13.519> of<00:11:13.610> finality<00:11:14.019> well 00:11:15.009 --> 00:11:15.019 align:start position:0% compressed explanation of finality well 00:11:15.019 --> 00:11:17.170 align:start position:0% compressed explanation of finality well now<00:11:15.139> talk<00:11:15.199> about<00:11:15.379> how<00:11:15.889> the<00:11:16.699> beacon<00:11:17.000> chain 00:11:17.170 --> 00:11:17.180 align:start position:0% now talk about how the beacon chain 00:11:17.180 --> 00:11:18.790 align:start position:0% now talk about how the beacon chain learns<00:11:17.420> about<00:11:17.629> eath<00:11:17.839> one<00:11:18.050> data<00:11:18.259> and<00:11:18.529> then 00:11:18.790 --> 00:11:18.800 align:start position:0% learns about eath one data and then 00:11:18.800 --> 00:11:20.590 align:start position:0% learns about eath one data and then we're<00:11:18.920> gonna<00:11:19.040> do<00:11:19.279> is<00:11:19.579> as<00:11:20.089> we<00:11:20.209> finalize<00:11:20.569> the 00:11:20.590 --> 00:11:20.600 align:start position:0% we're gonna do is as we finalize the 00:11:20.600 --> 00:11:22.329 align:start position:0% we're gonna do is as we finalize the beacon<00:11:20.959> chain<00:11:21.139> which<00:11:21.379> learns<00:11:22.009> about<00:11:22.160> this 00:11:22.329 --> 00:11:22.339 align:start position:0% beacon chain which learns about this 00:11:22.339 --> 00:11:23.829 align:start position:0% beacon chain which learns about this eighth<00:11:22.519> one<00:11:22.699> data<00:11:22.879> will<00:11:23.089> end<00:11:23.240> up<00:11:23.300> finalizing 00:11:23.829 --> 00:11:23.839 align:start position:0% eighth one data will end up finalizing 00:11:23.839 --> 00:11:30.490 align:start position:0% eighth one data will end up finalizing the<00:11:24.139> one<00:11:24.410> chain<00:11:26.350> hopefully<00:11:27.350> that's<00:11:27.500> clear<00:11:29.500> so 00:11:30.490 --> 00:11:30.500 align:start position:0% the one chain hopefully that's clear so 00:11:30.500 --> 00:11:33.490 align:start position:0% the one chain hopefully that's clear so how<00:11:31.040> this<00:11:31.160> works<00:11:31.399> in<00:11:31.519> practice<00:11:31.550> is<00:11:32.120> that<00:11:32.500> will 00:11:33.490 --> 00:11:33.500 align:start position:0% how this works in practice is that will 00:11:33.500 --> 00:11:35.350 align:start position:0% how this works in practice is that will apply<00:11:33.800> this<00:11:33.889> beacon<00:11:34.250> chain<00:11:34.490> they'll<00:11:34.939> also<00:11:35.120> be 00:11:35.350 --> 00:11:35.360 align:start position:0% apply this beacon chain they'll also be 00:11:35.360 --> 00:11:37.689 align:start position:0% apply this beacon chain they'll also be what's<00:11:35.600> called<00:11:35.779> the<00:11:35.870> deposit<00:11:36.319> contract<00:11:36.699> and 00:11:37.689 --> 00:11:37.699 align:start position:0% what's called the deposit contract and 00:11:37.699 --> 00:11:39.309 align:start position:0% what's called the deposit contract and with<00:11:37.879> the<00:11:37.970> deposit<00:11:38.540> contract<00:11:38.720> the<00:11:39.019> idea<00:11:39.230> is 00:11:39.309 --> 00:11:39.319 align:start position:0% with the deposit contract the idea is 00:11:39.319 --> 00:11:41.860 align:start position:0% with the deposit contract the idea is that<00:11:39.379> anyone<00:11:39.740> can<00:11:39.800> then<00:11:40.129> make<00:11:40.879> a<00:11:40.910> deposit<00:11:41.300> of 00:11:41.860 --> 00:11:41.870 align:start position:0% that anyone can then make a deposit of 00:11:41.870 --> 00:11:42.519 align:start position:0% that anyone can then make a deposit of ether 00:11:42.519 --> 00:11:42.529 align:start position:0% ether 00:11:42.529 --> 00:11:44.499 align:start position:0% ether this<00:11:43.189> smart<00:11:43.699> contract<00:11:44.029> on<00:11:44.149> the<00:11:44.240> eighth<00:11:44.300> one 00:11:44.499 --> 00:11:44.509 align:start position:0% this smart contract on the eighth one 00:11:44.509 --> 00:11:47.290 align:start position:0% this smart contract on the eighth one chain<00:11:44.800> the<00:11:45.800> two<00:11:46.069> chain<00:11:46.310> is<00:11:46.459> then<00:11:46.610> essentially 00:11:47.290 --> 00:11:47.300 align:start position:0% chain the two chain is then essentially 00:11:47.300 --> 00:11:48.639 align:start position:0% chain the two chain is then essentially a<00:11:47.329> light<00:11:47.480> client<00:11:47.839> of<00:11:47.899> this<00:11:48.019> contract<00:11:48.379> and<00:11:48.589> is 00:11:48.639 --> 00:11:48.649 align:start position:0% a light client of this contract and is 00:11:48.649 --> 00:11:51.009 align:start position:0% a light client of this contract and is watching<00:11:48.769> this<00:11:48.980> contract<00:11:49.720> and<00:11:50.720> that's<00:11:50.839> how 00:11:51.009 --> 00:11:51.019 align:start position:0% watching this contract and that's how 00:11:51.019 --> 00:11:53.079 align:start position:0% watching this contract and that's how values<00:11:51.380> enter<00:11:51.620> the<00:11:51.740> system<00:11:52.040> so<00:11:52.490> you<00:11:52.519> know<00:11:52.880> it's 00:11:53.079 --> 00:11:53.089 align:start position:0% values enter the system so you know it's 00:11:53.089 --> 00:11:55.179 align:start position:0% values enter the system so you know it's sort<00:11:53.509> of<00:11:53.630> trustless<00:11:53.959> in<00:11:54.139> this<00:11:54.290> way<00:11:54.439> you<00:11:55.069> don't 00:11:55.179 --> 00:11:55.189 align:start position:0% sort of trustless in this way you don't 00:11:55.189 --> 00:11:57.100 align:start position:0% sort of trustless in this way you don't have<00:11:55.220> to<00:11:55.370> like<00:11:55.490> go<00:11:56.060> to<00:11:56.120> three<00:11:56.360> morgue<00:11:56.779> and<00:11:56.990> like 00:11:57.100 --> 00:11:57.110 align:start position:0% have to like go to three morgue and like 00:11:57.110 --> 00:11:59.579 align:start position:0% have to like go to three morgue and like sign<00:11:57.290> up<00:11:57.410> to<00:11:57.500> be<00:11:57.589> a<00:11:57.620> validator<00:11:58.209> anyone<00:11:59.209> can 00:11:59.579 --> 00:11:59.589 align:start position:0% sign up to be a validator anyone can 00:11:59.589 --> 00:12:01.540 align:start position:0% sign up to be a validator anyone can sort<00:12:00.589> of<00:12:00.649> permissionless<00:12:01.009> Li<00:12:01.250> join<00:12:01.459> the 00:12:01.540 --> 00:12:01.550 align:start position:0% sort of permissionless Li join the 00:12:01.550 --> 00:12:04.929 align:start position:0% sort of permissionless Li join the system<00:12:02.860> yeah<00:12:03.860> and<00:12:04.009> there's<00:12:04.220> a<00:12:04.459> key<00:12:04.699> part<00:12:04.880> of 00:12:04.929 --> 00:12:04.939 align:start position:0% system yeah and there's a key part of 00:12:04.939 --> 00:12:07.300 align:start position:0% system yeah and there's a key part of this<00:12:05.060> any<00:12:05.779> validator<00:12:06.560> in<00:12:06.769> the<00:12:06.980> new<00:12:07.100> system 00:12:07.300 --> 00:12:07.310 align:start position:0% this any validator in the new system 00:12:07.310 --> 00:12:09.460 align:start position:0% this any validator in the new system then<00:12:07.790> to<00:12:08.060> for<00:12:08.449> example<00:12:08.509> make<00:12:08.779> a<00:12:08.899> valid<00:12:09.199> beacon 00:12:09.460 --> 00:12:09.470 align:start position:0% then to for example make a valid beacon 00:12:09.470 --> 00:12:11.889 align:start position:0% then to for example make a valid beacon block<00:12:09.649> has<00:12:09.920> to<00:12:10.130> include<00:12:10.660> sort<00:12:11.660> of<00:12:11.720> their 00:12:11.889 --> 00:12:11.899 align:start position:0% block has to include sort of their 00:12:11.899 --> 00:12:13.360 align:start position:0% block has to include sort of their latest<00:12:12.170> view<00:12:12.319> of<00:12:12.439> the<00:12:12.529> eath<00:12:12.620> one<00:12:12.860> chain<00:12:13.130> and 00:12:13.360 --> 00:12:13.370 align:start position:0% latest view of the eath one chain and 00:12:13.370 --> 00:12:14.530 align:start position:0% latest view of the eath one chain and that's<00:12:13.579> how<00:12:13.699> you<00:12:13.759> get<00:12:13.910> this<00:12:14.060> light<00:12:14.269> client 00:12:14.530 --> 00:12:14.540 align:start position:0% that's how you get this light client 00:12:14.540 --> 00:12:20.079 align:start position:0% that's how you get this light client functionality<00:12:18.040> so<00:12:19.040> here<00:12:19.519> are<00:12:19.699> some<00:12:19.939> diagrams 00:12:20.079 --> 00:12:20.089 align:start position:0% functionality so here are some diagrams 00:12:20.089 --> 00:12:22.720 align:start position:0% functionality so here are some diagrams to<00:12:20.389> that<00:12:20.509> effect<00:12:21.370> basically<00:12:22.370> what<00:12:22.490> I<00:12:22.519> want<00:12:22.670> to 00:12:22.720 --> 00:12:22.730 align:start position:0% to that effect basically what I want to 00:12:22.730 --> 00:12:24.460 align:start position:0% to that effect basically what I want to show<00:12:22.850> is<00:12:23.089> like<00:12:23.269> there's<00:12:23.600> a<00:12:23.660> proportion<00:12:24.230> right 00:12:24.460 --> 00:12:24.470 align:start position:0% show is like there's a proportion right 00:12:24.470 --> 00:12:25.600 align:start position:0% show is like there's a proportion right up<00:12:25.040> here 00:12:25.600 --> 00:12:25.610 align:start position:0% up here 00:12:25.610 --> 00:12:28.059 align:start position:0% up here beacon<00:12:26.149> changes<00:12:26.449> up<00:12:26.569> here<00:12:26.680> the<00:12:27.680> systems 00:12:28.059 --> 00:12:28.069 align:start position:0% beacon changes up here the systems 00:12:28.069 --> 00:12:29.939 align:start position:0% beacon changes up here the systems operational<00:12:28.639> it's<00:12:28.880> going<00:12:29.149> and<00:12:29.240> all<00:12:29.360> this 00:12:29.939 --> 00:12:29.949 align:start position:0% operational it's going and all this 00:12:29.949 --> 00:12:33.490 align:start position:0% operational it's going and all this basically<00:12:30.949> in<00:12:31.160> some<00:12:31.370> block<00:12:32.139> we<00:12:33.139> have<00:12:33.319> some 00:12:33.490 --> 00:12:33.500 align:start position:0% basically in some block we have some 00:12:33.500 --> 00:12:35.110 align:start position:0% basically in some block we have some data<00:12:33.649> right<00:12:33.920> so<00:12:34.189> like<00:12:34.399> this<00:12:34.639> block<00:12:34.880> has<00:12:35.089> a 00:12:35.110 --> 00:12:35.120 align:start position:0% data right so like this block has a 00:12:35.120 --> 00:12:37.210 align:start position:0% data right so like this block has a block<00:12:35.360> hash<00:12:35.600> there<00:12:36.559> just<00:12:36.709> like<00:12:36.769> an<00:12:36.889> address<00:12:37.130> to 00:12:37.210 --> 00:12:37.220 align:start position:0% block hash there just like an address to 00:12:37.220 --> 00:12:39.490 align:start position:0% block hash there just like an address to this<00:12:37.370> deposit<00:12:37.639> contract<00:12:37.970> there's<00:12:38.959> a<00:12:39.050> root<00:12:39.319> of 00:12:39.490 --> 00:12:39.500 align:start position:0% this deposit contract there's a root of 00:12:39.500 --> 00:12:42.009 align:start position:0% this deposit contract there's a root of all<00:12:39.680> said<00:12:40.040> deposits<00:12:40.579> that<00:12:41.029> have<00:12:41.089> been<00:12:41.329> made<00:12:41.540> to 00:12:42.009 --> 00:12:42.019 align:start position:0% all said deposits that have been made to 00:12:42.019 --> 00:12:44.049 align:start position:0% all said deposits that have been made to become<00:12:42.259> a<00:12:42.290> validator<00:12:42.680> and<00:12:42.949> then<00:12:43.670> essentially 00:12:44.049 --> 00:12:44.059 align:start position:0% become a validator and then essentially 00:12:44.059 --> 00:12:46.329 align:start position:0% become a validator and then essentially to<00:12:44.389> enter<00:12:44.750> into<00:12:44.959> the<00:12:45.319> batter's<00:12:45.620> set<00:12:45.800> here<00:12:46.189> you 00:12:46.329 --> 00:12:46.339 align:start position:0% to enter into the batter's set here you 00:12:46.339 --> 00:12:48.929 align:start position:0% to enter into the batter's set here you can<00:12:46.939> make<00:12:47.029> proofs<00:12:47.329> against<00:12:47.660> this<00:12:47.899> right<00:12:48.470> so 00:12:48.929 --> 00:12:48.939 align:start position:0% can make proofs against this right so 00:12:48.939 --> 00:12:51.280 align:start position:0% can make proofs against this right so I've<00:12:49.939> already<00:12:50.089> claimed<00:12:50.420> that<00:12:50.750> we're 00:12:51.280 --> 00:12:51.290 align:start position:0% I've already claimed that we're 00:12:51.290 --> 00:12:52.329 align:start position:0% I've already claimed that we're essentially<00:12:51.559> a<00:12:51.680> light<00:12:51.829> client<00:12:52.160> of<00:12:52.250> this 00:12:52.329 --> 00:12:52.339 align:start position:0% essentially a light client of this 00:12:52.339 --> 00:12:56.049 align:start position:0% essentially a light client of this contract<00:12:53.620> what<00:12:54.620> that<00:12:54.740> means<00:12:54.949> then<00:12:55.130> is<00:12:55.309> that<00:12:55.790> we 00:12:56.049 --> 00:12:56.059 align:start position:0% contract what that means then is that we 00:12:56.059 --> 00:12:57.549 align:start position:0% contract what that means then is that we know<00:12:56.209> sort<00:12:56.569> of<00:12:56.630> this<00:12:56.809> special<00:12:57.290> route<00:12:57.410> in<00:12:57.500> the 00:12:57.549 --> 00:12:57.559 align:start position:0% know sort of this special route in the 00:12:57.559 --> 00:12:58.480 align:start position:0% know sort of this special route in the contract 00:12:58.480 --> 00:12:58.490 align:start position:0% contract 00:12:58.490 --> 00:13:00.700 align:start position:0% contract we<00:12:58.640> can<00:12:58.820> and<00:12:59.090> usually<00:12:59.660> make<00:12:59.810> Markel<00:13:00.140> proofs<00:13:00.350> to 00:13:00.700 --> 00:13:00.710 align:start position:0% we can and usually make Markel proofs to 00:13:00.710 --> 00:13:02.440 align:start position:0% we can and usually make Markel proofs to figure<00:13:00.920> out<00:13:01.040> okay<00:13:01.370> was<00:13:01.970> this<00:13:02.120> deposit 00:13:02.440 --> 00:13:02.450 align:start position:0% figure out okay was this deposit 00:13:02.450 --> 00:13:12.510 align:start position:0% figure out okay was this deposit included<00:13:03.140> or<00:13:03.230> not<00:13:08.470> so<00:13:09.470> what<00:13:09.560> that<00:13:09.680> says<00:13:09.890> oh 00:13:12.510 --> 00:13:12.520 align:start position:0% 00:13:12.520 --> 00:13:21.340 align:start position:0% great<00:13:13.520> so<00:13:18.310> yeah<00:13:19.310> so<00:13:19.640> then<00:13:19.990> really<00:13:20.990> this<00:13:21.170> ties 00:13:21.340 --> 00:13:21.350 align:start position:0% great so yeah so then really this ties 00:13:21.350 --> 00:13:23.770 align:start position:0% great so yeah so then really this ties it<00:13:21.470> all<00:13:21.530> together<00:13:22.090> I'm<00:13:23.090> just<00:13:23.330> gonna<00:13:23.420> kind<00:13:23.690> of 00:13:23.770 --> 00:13:23.780 align:start position:0% it all together I'm just gonna kind of 00:13:23.780 --> 00:13:25.630 align:start position:0% it all together I'm just gonna kind of keep<00:13:24.470> moving<00:13:24.770> so<00:13:24.920> we<00:13:25.010> can<00:13:25.130> ask<00:13:25.250> questions<00:13:25.310> at 00:13:25.630 --> 00:13:25.640 align:start position:0% keep moving so we can ask questions at 00:13:25.640 --> 00:13:27.490 align:start position:0% keep moving so we can ask questions at the<00:13:25.730> end<00:13:25.760> hopefully<00:13:26.090> I<00:13:26.300> realized<00:13:27.170> this<00:13:27.290> is<00:13:27.350> a 00:13:27.490 --> 00:13:27.500 align:start position:0% the end hopefully I realized this is a 00:13:27.500 --> 00:13:30.310 align:start position:0% the end hopefully I realized this is a lot<00:13:27.710> quickly<00:13:28.090> but<00:13:29.090> basically<00:13:29.540> what<00:13:30.080> we<00:13:30.170> then 00:13:30.310 --> 00:13:30.320 align:start position:0% lot quickly but basically what we then 00:13:30.320 --> 00:13:33.640 align:start position:0% lot quickly but basically what we then have<00:13:30.740> right<00:13:31.040> is<00:13:31.430> beacon<00:13:32.270> chain<00:13:32.480> learns<00:13:33.470> about 00:13:33.640 --> 00:13:33.650 align:start position:0% have right is beacon chain learns about 00:13:33.650 --> 00:13:36.700 align:start position:0% have right is beacon chain learns about eath<00:13:34.100> one<00:13:34.370> blocks<00:13:34.990> as<00:13:35.990> we<00:13:36.170> finalize<00:13:36.380> the 00:13:36.700 --> 00:13:36.710 align:start position:0% eath one blocks as we finalize the 00:13:36.710 --> 00:13:39.220 align:start position:0% eath one blocks as we finalize the beacon<00:13:36.980> chain<00:13:37.330> we<00:13:38.330> implicitly<00:13:38.720> finalize 00:13:39.220 --> 00:13:39.230 align:start position:0% beacon chain we implicitly finalize 00:13:39.230 --> 00:13:41.590 align:start position:0% beacon chain we implicitly finalize these<00:13:39.890> eath<00:13:40.070> one<00:13:40.280> blocks<00:13:40.490> right<00:13:40.700> so<00:13:41.360> for 00:13:41.590 --> 00:13:41.600 align:start position:0% these eath one blocks right so for 00:13:41.600 --> 00:13:44.170 align:start position:0% these eath one blocks right so for example<00:13:42.020> it's<00:13:42.200> like<00:13:42.410> you<00:13:43.070> know<00:13:43.190> by<00:13:43.760> this<00:13:43.820> block 00:13:44.170 --> 00:13:44.180 align:start position:0% example it's like you know by this block 00:13:44.180 --> 00:13:45.850 align:start position:0% example it's like you know by this block we<00:13:44.510> said<00:13:44.720> hey<00:13:44.900> the<00:13:45.170> head<00:13:45.350> of<00:13:45.470> the<00:13:45.560> eath<00:13:45.650> one 00:13:45.850 --> 00:13:45.860 align:start position:0% we said hey the head of the eath one 00:13:45.860 --> 00:13:49.300 align:start position:0% we said hey the head of the eath one chain<00:13:46.070> was<00:13:46.850> this<00:13:47.540> block<00:13:47.860> then<00:13:48.860> as<00:13:48.980> we<00:13:49.100> finalize 00:13:49.300 --> 00:13:49.310 align:start position:0% chain was this block then as we finalize 00:13:49.310 --> 00:13:52.000 align:start position:0% chain was this block then as we finalize this<00:13:49.820> beacon<00:13:50.030> block<00:13:50.590> because<00:13:51.590> essentially 00:13:52.000 --> 00:13:52.010 align:start position:0% this beacon block because essentially 00:13:52.010 --> 00:13:53.380 align:start position:0% this beacon block because essentially you<00:13:52.250> know<00:13:52.340> this<00:13:52.550> block<00:13:52.730> hash<00:13:52.940> is<00:13:53.060> written<00:13:53.270> here 00:13:53.380 --> 00:13:53.390 align:start position:0% you know this block hash is written here 00:13:53.390 --> 00:13:55.900 align:start position:0% you know this block hash is written here and<00:13:53.510> it's<00:13:53.600> finalized<00:13:54.020> we<00:13:54.770> know<00:13:54.980> that<00:13:55.280> via 00:13:55.900 --> 00:13:55.910 align:start position:0% and it's finalized we know that via 00:13:55.910 --> 00:13:58.120 align:start position:0% and it's finalized we know that via reference<00:13:56.360> this<00:13:56.870> is<00:13:57.050> now<00:13:57.170> finalized<00:13:57.620> and<00:13:57.950> then 00:13:58.120 --> 00:13:58.130 align:start position:0% reference this is now finalized and then 00:13:58.130 --> 00:13:59.500 align:start position:0% reference this is now finalized and then because<00:13:58.340> of<00:13:58.460> the<00:13:58.520> chain<00:13:58.700> nature<00:13:59.000> anything 00:13:59.500 --> 00:13:59.510 align:start position:0% because of the chain nature anything 00:13:59.510 --> 00:14:01.510 align:start position:0% because of the chain nature anything before<00:13:59.930> it<00:14:00.050> is<00:14:00.380> finalized<00:14:00.830> so<00:14:01.190> then<00:14:01.370> we'll 00:14:01.510 --> 00:14:01.520 align:start position:0% before it is finalized so then we'll 00:14:01.520 --> 00:14:03.550 align:start position:0% before it is finalized so then we'll like<00:14:01.640> keep<00:14:02.240> increasing<00:14:02.510> suffixes<00:14:03.230> of<00:14:03.440> this 00:14:03.550 --> 00:14:03.560 align:start position:0% like keep increasing suffixes of this 00:14:03.560 --> 00:14:07.240 align:start position:0% like keep increasing suffixes of this chain<00:14:03.830> as<00:14:04.690> we<00:14:05.690> finalize<00:14:06.350> more<00:14:07.070> and<00:14:07.160> more 00:14:07.240 --> 00:14:07.250 align:start position:0% chain as we finalize more and more 00:14:07.250 --> 00:14:14.530 align:start position:0% chain as we finalize more and more beacon<00:14:07.460> blocks<00:14:11.950> and<00:14:12.950> then<00:14:13.880> just<00:14:14.060> a<00:14:14.210> you<00:14:14.510> know 00:14:14.530 --> 00:14:14.540 align:start position:0% beacon blocks and then just a you know 00:14:14.540 --> 00:14:16.630 align:start position:0% beacon blocks and then just a you know belabor<00:14:15.020> the<00:14:15.170> point<00:14:15.200> but<00:14:15.620> that<00:14:16.130> then<00:14:16.250> means<00:14:16.460> is 00:14:16.630 --> 00:14:16.640 align:start position:0% belabor the point but that then means is 00:14:16.640 --> 00:14:17.800 align:start position:0% belabor the point but that then means is that<00:14:16.670> you'd<00:14:16.910> have<00:14:16.940> to<00:14:17.180> have<00:14:17.270> one<00:14:17.600> of<00:14:17.630> these 00:14:17.800 --> 00:14:17.810 align:start position:0% that you'd have to have one of these 00:14:17.810 --> 00:14:19.660 align:start position:0% that you'd have to have one of these huge<00:14:18.140> burnings<00:14:18.530> of<00:14:18.710> all<00:14:18.830> this<00:14:18.980> ability<00:14:19.280> neath 00:14:19.660 --> 00:14:19.670 align:start position:0% huge burnings of all this ability neath 00:14:19.670 --> 00:14:21.670 align:start position:0% huge burnings of all this ability neath to<00:14:20.180> actually<00:14:20.480> have<00:14:20.780> for<00:14:21.200> example<00:14:21.530> or<00:14:21.650> a 00:14:21.670 --> 00:14:21.680 align:start position:0% to actually have for example or a 00:14:21.680 --> 00:14:29.500 align:start position:0% to actually have for example or a version<00:14:21.950> on<00:14:22.370> the<00:14:22.970> 100<00:14:23.180> chain<00:14:27.820> okay<00:14:28.820> yeah<00:14:29.300> why 00:14:29.500 --> 00:14:29.510 align:start position:0% version on the 100 chain okay yeah why 00:14:29.510 --> 00:14:31.690 align:start position:0% version on the 100 chain okay yeah why do<00:14:29.570> we<00:14:29.660> want<00:14:29.810> it<00:14:30.220> essentially<00:14:31.220> again<00:14:31.430> I'm 00:14:31.690 --> 00:14:31.700 align:start position:0% do we want it essentially again I'm 00:14:31.700 --> 00:14:32.620 align:start position:0% do we want it essentially again I'm trimming<00:14:32.030> some<00:14:32.150> argument<00:14:32.420> for<00:14:32.510> better 00:14:32.620 --> 00:14:32.630 align:start position:0% trimming some argument for better 00:14:32.630 --> 00:14:35.800 align:start position:0% trimming some argument for better security<00:14:33.730> there's<00:14:34.730> this<00:14:34.910> quote<00:14:35.180> I've<00:14:35.510> usually 00:14:35.800 --> 00:14:35.810 align:start position:0% security there's this quote I've usually 00:14:35.810 --> 00:14:37.180 align:start position:0% security there's this quote I've usually heard<00:14:35.930> attributed<00:14:36.110> to<00:14:36.350> Vlad<00:14:36.530> which<00:14:36.830> is<00:14:36.980> like 00:14:37.180 --> 00:14:37.190 align:start position:0% heard attributed to Vlad which is like 00:14:37.190 --> 00:14:39.100 align:start position:0% heard attributed to Vlad which is like with<00:14:37.820> the<00:14:37.880> proof<00:14:38.060> of<00:14:38.150> stake<00:14:38.300> attack<00:14:38.630> it's<00:14:38.960> as 00:14:39.100 --> 00:14:39.110 align:start position:0% with the proof of stake attack it's as 00:14:39.110 --> 00:14:40.840 align:start position:0% with the proof of stake attack it's as if<00:14:39.260> you're<00:14:39.380> a<00:14:39.410> sick<00:14:39.680> farm<00:14:39.920> burned<00:14:40.220> down<00:14:40.430> with 00:14:40.840 --> 00:14:40.850 align:start position:0% if you're a sick farm burned down with 00:14:40.850 --> 00:14:43.030 align:start position:0% if you're a sick farm burned down with every<00:14:41.060> attack<00:14:41.380> and<00:14:42.380> what<00:14:42.500> this<00:14:42.590> means<00:14:42.830> is<00:14:43.010> that 00:14:43.030 --> 00:14:43.040 align:start position:0% every attack and what this means is that 00:14:43.040 --> 00:14:44.620 align:start position:0% every attack and what this means is that you<00:14:43.670> know<00:14:43.790> let's<00:14:43.940> say<00:14:44.030> we're<00:14:44.150> on<00:14:44.210> the<00:14:44.270> fork 00:14:44.620 --> 00:14:44.630 align:start position:0% you know let's say we're on the fork 00:14:44.630 --> 00:14:46.600 align:start position:0% you know let's say we're on the fork chain<00:14:44.900> if<00:14:45.200> I<00:14:45.590> were<00:14:45.680> to<00:14:45.800> attack<00:14:46.070> you<00:14:46.280> I<00:14:46.430> just 00:14:46.600 --> 00:14:46.610 align:start position:0% chain if I were to attack you I just 00:14:46.610 --> 00:14:47.650 align:start position:0% chain if I were to attack you I just have<00:14:46.700> to<00:14:46.790> get<00:14:46.910> like<00:14:47.030> a<00:14:47.060> bunch<00:14:47.270> of<00:14:47.390> hardware 00:14:47.650 --> 00:14:47.660 align:start position:0% have to get like a bunch of hardware 00:14:47.660 --> 00:14:48.910 align:start position:0% have to get like a bunch of hardware right<00:14:48.110> and<00:14:48.260> I<00:14:48.290> just<00:14:48.440> like<00:14:48.560> they're<00:14:48.740> all<00:14:48.800> let's 00:14:48.910 --> 00:14:48.920 align:start position:0% right and I just like they're all let's 00:14:48.920 --> 00:14:50.590 align:start position:0% right and I just like they're all let's hash<00:14:49.040> borrow<00:14:49.310> your<00:14:49.460> chain<00:14:49.670> and<00:14:49.910> then<00:14:50.450> suddenly 00:14:50.590 --> 00:14:50.600 align:start position:0% hash borrow your chain and then suddenly 00:14:50.600 --> 00:14:53.260 align:start position:0% hash borrow your chain and then suddenly there's<00:14:50.930> like<00:14:50.960> a<00:14:51.050> competing<00:14:51.380> fork<00:14:52.120> the<00:14:53.120> only 00:14:53.260 --> 00:14:53.270 align:start position:0% there's like a competing fork the only 00:14:53.270 --> 00:14:55.570 align:start position:0% there's like a competing fork the only way<00:14:53.360> to<00:14:53.420> really<00:14:53.630> like<00:14:53.870> stop<00:14:54.710> you<00:14:54.920> if<00:14:55.280> I<00:14:55.520> don't 00:14:55.570 --> 00:14:55.580 align:start position:0% way to really like stop you if I don't 00:14:55.580 --> 00:15:02.080 align:start position:0% way to really like stop you if I don't know<00:14:55.700> where<00:14:55.880> you<00:14:55.940> are<00:14:55.970> is<00:14:56.770> to<00:15:00.430> change<00:15:01.430> our<00:15:01.640> work 00:15:02.080 --> 00:15:02.090 align:start position:0% know where you are is to change our work 00:15:02.090 --> 00:15:07.770 align:start position:0% know where you are is to change our work right<00:15:02.330> which<00:15:02.960> we<00:15:03.170> know<00:15:03.260> can<00:15:03.410> be<00:15:03.470> tricky<00:15:03.760> so 00:15:07.770 --> 00:15:07.780 align:start position:0% 00:15:07.780 --> 00:15:09.730 align:start position:0% with<00:15:08.780> proof<00:15:08.930> of<00:15:09.050> stake<00:15:09.230> you<00:15:09.470> can<00:15:09.590> actually 00:15:09.730 --> 00:15:09.740 align:start position:0% with proof of stake you can actually 00:15:09.740 --> 00:15:11.260 align:start position:0% with proof of stake you can actually because<00:15:10.190> you<00:15:10.310> have<00:15:10.460> this<00:15:10.610> like<00:15:10.790> reference<00:15:11.150> in 00:15:11.260 --> 00:15:11.270 align:start position:0% because you have this like reference in 00:15:11.270 --> 00:15:11.950 align:start position:0% because you have this like reference in the<00:15:11.330> protocol 00:15:11.950 --> 00:15:11.960 align:start position:0% the protocol 00:15:11.960 --> 00:15:13.540 align:start position:0% the protocol like<00:15:12.140> representation<00:15:12.560> in<00:15:12.920> the<00:15:12.980> protocol<00:15:13.340> of 00:15:13.540 --> 00:15:13.550 align:start position:0% like representation in the protocol of 00:15:13.550 --> 00:15:15.580 align:start position:0% like representation in the protocol of this<00:15:14.090> like<00:15:14.240> consensus<00:15:14.660> object<00:15:14.990> you<00:15:15.470> can 00:15:15.580 --> 00:15:15.590 align:start position:0% this like consensus object you can 00:15:15.590 --> 00:15:16.810 align:start position:0% this like consensus object you can basically<00:15:15.740> just<00:15:15.920> say<00:15:16.100> hey<00:15:16.280> we're<00:15:16.430> gonna<00:15:16.550> like 00:15:16.810 --> 00:15:16.820 align:start position:0% basically just say hey we're gonna like 00:15:16.820 --> 00:15:19.330 align:start position:0% basically just say hey we're gonna like coordinate<00:15:17.630> as<00:15:17.780> a<00:15:17.810> community<00:15:18.230> to<00:15:18.410> say<00:15:18.590> delete 00:15:19.330 --> 00:15:19.340 align:start position:0% coordinate as a community to say delete 00:15:19.340 --> 00:15:20.950 align:start position:0% coordinate as a community to say delete this<00:15:19.520> part<00:15:19.760> that's<00:15:19.970> attacking<00:15:20.180> us<00:15:20.480> and<00:15:20.720> you 00:15:20.950 --> 00:15:20.960 align:start position:0% this part that's attacking us and you 00:15:20.960 --> 00:15:22.870 align:start position:0% this part that's attacking us and you can<00:15:21.080> just<00:15:21.200> keep<00:15:21.320> doing<00:15:21.380> this<00:15:21.620> you<00:15:22.130> know<00:15:22.250> as<00:15:22.490> you 00:15:22.870 --> 00:15:22.880 align:start position:0% can just keep doing this you know as you 00:15:22.880 --> 00:15:24.310 align:start position:0% can just keep doing this you know as you need 00:15:24.310 --> 00:15:24.320 align:start position:0% need 00:15:24.320 --> 00:15:25.960 align:start position:0% need I<00:15:24.350> mean<00:15:24.980> you're<00:15:25.100> on<00:15:25.310> time<00:15:25.460> so<00:15:25.700> I'm<00:15:25.760> going<00:15:25.880> to 00:15:25.960 --> 00:15:25.970 align:start position:0% I mean you're on time so I'm going to 00:15:25.970 --> 00:15:28.690 align:start position:0% I mean you're on time so I'm going to speed<00:15:26.180> through<00:15:26.390> some<00:15:26.690> of<00:15:26.780> this<00:15:26.840> bit<00:15:27.700> again 00:15:28.690 --> 00:15:28.700 align:start position:0% speed through some of this bit again 00:15:28.700 --> 00:15:30.550 align:start position:0% speed through some of this bit again security<00:15:29.330> security<00:15:29.540> security<00:15:29.660> this<00:15:30.500> is 00:15:30.550 --> 00:15:30.560 align:start position:0% security security security this is 00:15:30.560 --> 00:15:32.020 align:start position:0% security security security this is another<00:15:30.860> when<00:15:31.010> people<00:15:31.190> early<00:15:31.370> into<00:15:31.610> is<00:15:31.820> that 00:15:32.020 --> 00:15:32.030 align:start position:0% another when people early into is that 00:15:32.030 --> 00:15:33.610 align:start position:0% another when people early into is that we<00:15:32.360> can<00:15:32.480> actually<00:15:32.600> reduce<00:15:32.870> issuance<00:15:33.410> right 00:15:33.610 --> 00:15:33.620 align:start position:0% we can actually reduce issuance right 00:15:33.620 --> 00:15:36.100 align:start position:0% we can actually reduce issuance right because<00:15:34.040> with<00:15:34.820> the<00:15:35.030> security<00:15:35.570> of<00:15:35.600> the<00:15:35.900> beacon 00:15:36.100 --> 00:15:36.110 align:start position:0% because with the security of the beacon 00:15:36.110 --> 00:15:37.750 align:start position:0% because with the security of the beacon chain<00:15:36.290> leverage<00:15:36.650> to<00:15:36.860> the<00:15:36.890> eath<00:15:37.160> one<00:15:37.370> chain<00:15:37.640> we 00:15:37.750 --> 00:15:37.760 align:start position:0% chain leverage to the eath one chain we 00:15:37.760 --> 00:15:39.700 align:start position:0% chain leverage to the eath one chain we actually<00:15:38.060> don't<00:15:38.240> need<00:15:38.480> to<00:15:38.540> like<00:15:38.900> we<00:15:39.620> don't 00:15:39.700 --> 00:15:39.710 align:start position:0% actually don't need to like we don't 00:15:39.710 --> 00:15:44.110 align:start position:0% actually don't need to like we don't need<00:15:39.860> as<00:15:39.980> high<00:15:40.070> of<00:15:40.130> mining<00:15:40.400> subsidy<00:15:42.730> and<00:15:43.730> yeah 00:15:44.110 --> 00:15:44.120 align:start position:0% need as high of mining subsidy and yeah 00:15:44.120 --> 00:15:46.450 align:start position:0% need as high of mining subsidy and yeah takeaway<00:15:44.690> eath<00:15:44.960> one<00:15:45.200> loves<00:15:45.410> eath<00:15:45.560> two<00:15:45.800> we<00:15:46.280> can 00:15:46.450 --> 00:15:46.460 align:start position:0% takeaway eath one loves eath two we can 00:15:46.460 --> 00:15:48.190 align:start position:0% takeaway eath one loves eath two we can like<00:15:46.640> do<00:15:47.180> a<00:15:47.210> lot<00:15:47.330> of<00:15:47.360> cool<00:15:47.540> stuff<00:15:47.750> wait<00:15:48.020> before 00:15:48.190 --> 00:15:48.200 align:start position:0% like do a lot of cool stuff wait before 00:15:48.200 --> 00:15:51.040 align:start position:0% like do a lot of cool stuff wait before we<00:15:48.410> have<00:15:48.620> this<00:15:48.770> like<00:15:48.950> nice<00:15:49.190> shiny<00:15:50.050> awesome 00:15:51.040 --> 00:15:51.050 align:start position:0% we have this like nice shiny awesome 00:15:51.050 --> 00:15:55.560 align:start position:0% we have this like nice shiny awesome like<00:15:51.290> future<00:15:51.860> execution<00:15:52.490> environment<00:15:53.200> system 00:15:55.560 --> 00:15:55.570 align:start position:0% like future execution environment system 00:15:55.570 --> 00:15:57.820 align:start position:0% like future execution environment system and<00:15:56.570> again<00:15:56.810> a<00:15:56.840> lot<00:15:57.110> could<00:15:57.260> go<00:15:57.290> wrong 00:15:57.820 --> 00:15:57.830 align:start position:0% and again a lot could go wrong 00:15:57.830 --> 00:15:59.620 align:start position:0% and again a lot could go wrong it's<00:15:58.310> coupling<00:15:58.700> these<00:15:58.790> two<00:15:58.940> systems<00:15:59.270> in<00:15:59.510> like 00:15:59.620 --> 00:15:59.630 align:start position:0% it's coupling these two systems in like 00:15:59.630 --> 00:16:03.460 align:start position:0% it's coupling these two systems in like a<00:15:59.660> very<00:16:00.400> intimate<00:16:01.400> way<00:16:01.520> and<00:16:01.760> so<00:16:02.450> we<00:16:03.350> definitely 00:16:03.460 --> 00:16:03.470 align:start position:0% a very intimate way and so we definitely 00:16:03.470 --> 00:16:04.870 align:start position:0% a very intimate way and so we definitely need<00:16:03.770> a<00:16:03.800> lot<00:16:03.920> of<00:16:03.980> like<00:16:04.160> research<00:16:04.490> into<00:16:04.760> like 00:16:04.870 --> 00:16:04.880 align:start position:0% need a lot of like research into like 00:16:04.880 --> 00:16:06.280 align:start position:0% need a lot of like research into like what<00:16:05.060> could<00:16:05.150> go<00:16:05.210> wrong<00:16:05.420> and<00:16:05.630> how<00:16:05.750> before<00:16:06.200> we 00:16:06.280 --> 00:16:06.290 align:start position:0% what could go wrong and how before we 00:16:06.290 --> 00:16:08.860 align:start position:0% what could go wrong and how before we like<00:16:06.470> kind<00:16:06.680> of<00:16:06.770> move<00:16:06.890> ahead<00:16:07.360> so<00:16:08.360> that's<00:16:08.690> about 00:16:08.860 --> 00:16:08.870 align:start position:0% like kind of move ahead so that's about 00:16:08.870 --> 00:16:11.740 align:start position:0% like kind of move ahead so that's about where<00:16:09.200> we<00:16:09.290> are<00:16:09.320> now<00:16:09.670> we<00:16:10.670> had<00:16:10.790> like<00:16:11.000> there's<00:16:11.690> a 00:16:11.740 --> 00:16:11.750 align:start position:0% where we are now we had like there's a 00:16:11.750 --> 00:16:13.360 align:start position:0% where we are now we had like there's a working<00:16:11.990> group<00:16:12.110> we<00:16:12.530> had<00:16:12.680> like<00:16:12.800> our<00:16:12.920> first<00:16:13.070> call 00:16:13.360 --> 00:16:13.370 align:start position:0% working group we had like our first call 00:16:13.370 --> 00:16:15.730 align:start position:0% working group we had like our first call some<00:16:13.760> time<00:16:13.790> ago<00:16:14.210> there's<00:16:14.960> this<00:16:15.140> link<00:16:15.350> here 00:16:15.730 --> 00:16:15.740 align:start position:0% some time ago there's this link here 00:16:15.740 --> 00:16:18.150 align:start position:0% some time ago there's this link here I'll<00:16:16.100> show<00:16:16.340> this<00:16:16.460> on<00:16:16.610> the<00:16:16.730> internet<00:16:16.970> later<00:16:17.180> a 00:16:18.150 --> 00:16:18.160 align:start position:0% I'll show this on the internet later a 00:16:18.160 --> 00:16:20.830 align:start position:0% I'll show this on the internet later a current<00:16:19.160> kind<00:16:19.310> of<00:16:19.400> open<00:16:19.610> question<00:16:19.940> is<00:16:20.180> that<00:16:20.450> a 00:16:20.830 --> 00:16:20.840 align:start position:0% current kind of open question is that a 00:16:20.840 --> 00:16:22.960 align:start position:0% current kind of open question is that a lot<00:16:21.770> of<00:16:21.860> the<00:16:21.980> beacon<00:16:22.340> chain<00:16:22.490> like<00:16:22.670> comment 00:16:22.960 --> 00:16:22.970 align:start position:0% lot of the beacon chain like comment 00:16:22.970 --> 00:16:24.160 align:start position:0% lot of the beacon chain like comment infrastructures<00:16:23.510> kind<00:16:23.720> of<00:16:23.780> been<00:16:23.870> delayed<00:16:24.080> to 00:16:24.160 --> 00:16:24.170 align:start position:0% infrastructures kind of been delayed to 00:16:24.170 --> 00:16:26.920 align:start position:0% infrastructures kind of been delayed to phase<00:16:24.350> one<00:16:24.530> so<00:16:25.250> that<00:16:25.370> I<00:16:25.430> made<00:16:25.580> like<00:16:25.820> defer<00:16:26.570> when 00:16:26.920 --> 00:16:26.930 align:start position:0% phase one so that I made like defer when 00:16:26.930 --> 00:16:29.440 align:start position:0% phase one so that I made like defer when and<00:16:27.110> how<00:16:27.200> we<00:16:27.260> can<00:16:27.560> do<00:16:27.710> stuff<00:16:27.770> here<00:16:28.450> again 00:16:29.440 --> 00:16:29.450 align:start position:0% and how we can do stuff here again 00:16:29.450 --> 00:16:31.000 align:start position:0% and how we can do stuff here again there's<00:16:29.660> like<00:16:29.810> active<00:16:30.380> research<00:16:30.650> into<00:16:30.890> that 00:16:31.000 --> 00:16:31.010 align:start position:0% there's like active research into that 00:16:31.010 --> 00:16:31.920 align:start position:0% there's like active research into that at<00:16:31.070> the<00:16:31.130> moment 00:16:31.920 --> 00:16:31.930 align:start position:0% at the moment 00:16:31.930 --> 00:16:34.000 align:start position:0% at the moment here's<00:16:32.930> link<00:16:33.170> to<00:16:33.260> the<00:16:33.320> working<00:16:33.590> group<00:16:33.620> on 00:16:34.000 --> 00:16:34.010 align:start position:0% here's link to the working group on 00:16:34.010 --> 00:16:35.710 align:start position:0% here's link to the working group on teeth<00:16:34.280> magicians<00:16:34.700> there's<00:16:35.120> a<00:16:35.180> telegram<00:16:35.420> group 00:16:35.710 --> 00:16:35.720 align:start position:0% teeth magicians there's a telegram group 00:16:35.720 --> 00:16:38.050 align:start position:0% teeth magicians there's a telegram group and<00:16:36.020> I<00:16:36.890> want<00:16:37.040> to<00:16:37.100> get<00:16:37.190> to<00:16:37.280> questions<00:16:37.640> so<00:16:37.970> I'll 00:16:38.050 --> 00:16:38.060 align:start position:0% and I want to get to questions so I'll 00:16:38.060 --> 00:16:40.750 align:start position:0% and I want to get to questions so I'll speed<00:16:38.360> through<00:16:38.510> this<00:16:39.130> yeah<00:16:40.130> this<00:16:40.370> is<00:16:40.550> me<00:16:40.730> on 00:16:40.750 --> 00:16:40.760 align:start position:0% speed through this yeah this is me on 00:16:40.760 --> 00:16:43.750 align:start position:0% speed through this yeah this is me on any<00:16:41.420> platform<00:16:41.690> just<00:16:42.200> our<00:16:42.380> Alex<00:16:42.830> Stokes<00:16:43.100> and<00:16:43.430> I 00:16:43.750 --> 00:16:43.760 align:start position:0% any platform just our Alex Stokes and I 00:16:43.760 --> 00:16:46.960 align:start position:0% any platform just our Alex Stokes and I have<00:16:43.880> more<00:16:44.150> writing<00:16:44.360> on<00:16:44.450> this<00:16:44.570> stuff<00:16:45.070> yeah<00:16:46.070> we 00:16:46.960 --> 00:16:46.970 align:start position:0% have more writing on this stuff yeah we 00:16:46.970 --> 00:16:48.450 align:start position:0% have more writing on this stuff yeah we have<00:16:47.090> maybe<00:16:47.390> one<00:16:47.600> minute<00:16:47.810> for<00:16:47.900> questions 00:16:48.450 --> 00:16:48.460 align:start position:0% have maybe one minute for questions 00:16:48.460 --> 00:16:52.980 align:start position:0% have maybe one minute for questions yep 00:16:52.980 --> 00:16:52.990 align:start position:0% 00:16:52.990 --> 00:16:57.430 align:start position:0% sorry<00:16:53.990> guys<00:16:54.200> best<00:16:55.000> hey<00:16:56.000> hey<00:16:56.630> thanks<00:16:56.930> Alex<00:16:57.290> can 00:16:57.430 --> 00:16:57.440 align:start position:0% sorry guys best hey hey thanks Alex can 00:16:57.440 --> 00:16:59.080 align:start position:0% sorry guys best hey hey thanks Alex can you<00:16:57.470> canoe<00:16:57.800> walk<00:16:58.310> us<00:16:58.490> through<00:16:58.520> what<00:16:59.000> would 00:16:59.080 --> 00:16:59.090 align:start position:0% you canoe walk us through what would 00:16:59.090 --> 00:17:02.800 align:start position:0% you canoe walk us through what would happen<00:16:59.450> if<00:17:00.220> the<00:17:01.220> eath<00:17:01.700> one<00:17:02.000> state<00:17:02.570> is 00:17:02.800 --> 00:17:02.810 align:start position:0% happen if the eath one state is 00:17:02.810 --> 00:17:05.350 align:start position:0% happen if the eath one state is finalized<00:17:03.320> on<00:17:03.650> the<00:17:04.220> eath<00:17:04.339> to<00:17:04.580> beacon<00:17:04.910> node<00:17:05.089> and 00:17:05.350 --> 00:17:05.360 align:start position:0% finalized on the eath to beacon node and 00:17:05.360 --> 00:17:08.010 align:start position:0% finalized on the eath to beacon node and then<00:17:05.839> there's<00:17:06.020> a<00:17:06.080> really<00:17:06.440> neat<00:17:06.589> one 00:17:08.010 --> 00:17:08.020 align:start position:0% then there's a really neat one 00:17:08.020 --> 00:17:11.170 align:start position:0% then there's a really neat one if<00:17:09.020> the<00:17:09.589> so<00:17:10.130> we<00:17:10.280> finalized<00:17:10.820> an<00:17:10.910> eighth<00:17:11.000> one 00:17:11.170 --> 00:17:11.180 align:start position:0% if the so we finalized an eighth one 00:17:11.180 --> 00:17:14.110 align:start position:0% if the so we finalized an eighth one block<00:17:11.470> so<00:17:12.470> that<00:17:12.500> I'm<00:17:12.860> certain<00:17:13.160> certain<00:17:13.970> each 00:17:14.110 --> 00:17:14.120 align:start position:0% block so that I'm certain certain each 00:17:14.120 --> 00:17:15.880 align:start position:0% block so that I'm certain certain each one<00:17:14.360> block<00:17:14.600> is<00:17:14.780> finalized<00:17:15.260> on<00:17:15.470> the<00:17:15.650> beacon 00:17:15.880 --> 00:17:15.890 align:start position:0% one block is finalized on the beacon 00:17:15.890 --> 00:17:17.710 align:start position:0% one block is finalized on the beacon chain<00:17:16.100> but<00:17:16.700> then<00:17:16.820> all<00:17:16.940> of<00:17:16.970> a<00:17:17.120> sudden<00:17:17.150> in<00:17:17.510> eighth 00:17:17.710 --> 00:17:17.720 align:start position:0% chain but then all of a sudden in eighth 00:17:17.720 --> 00:17:20.199 align:start position:0% chain but then all of a sudden in eighth one<00:17:17.930> world<00:17:18.170> that<00:17:18.709> block<00:17:18.920> is<00:17:19.070> no<00:17:19.190> right<00:17:19.430> so<00:17:19.820> yeah 00:17:20.199 --> 00:17:20.209 align:start position:0% one world that block is no right so yeah 00:17:20.209 --> 00:17:21.790 align:start position:0% one world that block is no right so yeah so<00:17:20.450> I<00:17:20.480> actually<00:17:20.930> didn't<00:17:21.200> make<00:17:21.290> this<00:17:21.380> clear<00:17:21.440> but 00:17:21.790 --> 00:17:21.800 align:start position:0% so I actually didn't make this clear but 00:17:21.800 --> 00:17:25.150 align:start position:0% so I actually didn't make this clear but part<00:17:22.100> of<00:17:22.280> the<00:17:22.730> the<00:17:23.030> goal<00:17:23.209> here<00:17:23.450> is<00:17:23.630> not<00:17:23.870> just<00:17:24.470> to 00:17:25.150 --> 00:17:25.160 align:start position:0% part of the the goal here is not just to 00:17:25.160 --> 00:17:27.670 align:start position:0% part of the the goal here is not just to like<00:17:25.480> have<00:17:26.480> the<00:17:26.720> beacon<00:17:26.959> chain<00:17:27.140> do<00:17:27.320> this<00:17:27.470> thing 00:17:27.670 --> 00:17:27.680 align:start position:0% like have the beacon chain do this thing 00:17:27.680 --> 00:17:29.620 align:start position:0% like have the beacon chain do this thing and<00:17:27.920> like<00:17:28.250> for<00:17:28.700> sort<00:17:29.060> of<00:17:29.120> finalize<00:17:29.390> block 00:17:29.620 --> 00:17:29.630 align:start position:0% and like for sort of finalize block 00:17:29.630 --> 00:17:31.480 align:start position:0% and like for sort of finalize block caches<00:17:30.020> but<00:17:30.140> we'd<00:17:30.290> actually<00:17:30.440> want<00:17:30.740> to<00:17:30.800> go<00:17:31.340> one 00:17:31.480 --> 00:17:31.490 align:start position:0% caches but we'd actually want to go one 00:17:31.490 --> 00:17:34.450 align:start position:0% caches but we'd actually want to go one step<00:17:31.520> further<00:17:31.910> and<00:17:32.240> have<00:17:32.600> the<00:17:33.320> privilege<00:17:33.500> it's 00:17:34.450 --> 00:17:34.460 align:start position:0% step further and have the privilege it's 00:17:34.460 --> 00:17:36.450 align:start position:0% step further and have the privilege it's actual<00:17:34.730> consensus<00:17:35.180> to<00:17:35.360> respect<00:17:35.720> the<00:17:35.810> finality 00:17:36.450 --> 00:17:36.460 align:start position:0% actual consensus to respect the finality 00:17:36.460 --> 00:17:39.340 align:start position:0% actual consensus to respect the finality and<00:17:37.460> so<00:17:37.700> I'm<00:17:38.510> gonna<00:17:38.660> kind<00:17:38.870> of<00:17:38.960> register<00:17:39.200> on 00:17:39.340 --> 00:17:39.350 align:start position:0% and so I'm gonna kind of register on 00:17:39.350 --> 00:17:40.570 align:start position:0% and so I'm gonna kind of register on time<00:17:39.500> but<00:17:39.710> that's<00:17:39.860> where<00:17:40.010> I<00:17:40.040> like<00:17:40.160> merging<00:17:40.490> the 00:17:40.570 --> 00:17:40.580 align:start position:0% time but that's where I like merging the 00:17:40.580 --> 00:17:42.550 align:start position:0% time but that's where I like merging the systems<00:17:40.970> like<00:17:41.090> it's<00:17:41.390> tricky<00:17:41.690> cuz<00:17:41.930> like<00:17:42.110> you're 00:17:42.550 --> 00:17:42.560 align:start position:0% systems like it's tricky cuz like you're 00:17:42.560 --> 00:17:44.730 align:start position:0% systems like it's tricky cuz like you're actually<00:17:42.800> changing<00:17:43.010> the<00:17:43.310> per<00:17:43.430> for<00:17:43.610> consensus 00:17:44.730 --> 00:17:44.740 align:start position:0% actually changing the per for consensus 00:17:44.740 --> 00:17:47.680 align:start position:0% actually changing the per for consensus to<00:17:45.740> say<00:17:45.950> okay<00:17:46.280> if<00:17:47.150> a<00:17:47.300> block<00:17:47.480> has<00:17:47.600> been 00:17:47.680 --> 00:17:47.690 align:start position:0% to say okay if a block has been 00:17:47.690 --> 00:17:49.990 align:start position:0% to say okay if a block has been finalized<00:17:48.110> we<00:17:48.260> can't<00:17:48.470> revert<00:17:48.740> so<00:17:49.640> then<00:17:49.820> it's 00:17:49.990 --> 00:17:50.000 align:start position:0% finalized we can't revert so then it's 00:17:50.000 --> 00:17:52.090 align:start position:0% finalized we can't revert so then it's like<00:17:50.150> four<00:17:50.420> choices<00:17:50.870> go<00:17:51.470> to<00:17:51.530> the<00:17:51.620> finalize<00:17:51.950> tie 00:17:52.090 --> 00:17:52.100 align:start position:0% like four choices go to the finalize tie 00:17:52.100 --> 00:17:54.250 align:start position:0% like four choices go to the finalize tie to<00:17:52.160> the<00:17:52.310> preferred<00:17:52.580> chain<00:17:52.850> then<00:17:53.570> proof<00:17:54.080> work 00:17:54.250 --> 00:17:54.260 align:start position:0% to the preferred chain then proof work 00:17:54.260 --> 00:17:59.860 align:start position:0% to the preferred chain then proof work from<00:17:54.410> there<00:17:54.530> right<00:17:56.890> related<00:17:57.890> to<00:17:58.040> this<00:17:58.360> so<00:17:59.360> you 00:17:59.860 --> 00:17:59.870 align:start position:0% from there right related to this so you 00:17:59.870 --> 00:18:01.480 align:start position:0% from there right related to this so you talked<00:18:00.050> about<00:18:00.080> how<00:18:00.410> like<00:18:00.650> if<00:18:00.980> you<00:18:01.250> have<00:18:01.400> the 00:18:01.480 --> 00:18:01.490 align:start position:0% talked about how like if you have the 00:18:01.490 --> 00:18:02.860 align:start position:0% talked about how like if you have the finality<00:18:01.820> gadget<00:18:02.330> you<00:18:02.420> might<00:18:02.540> be<00:18:02.660> able<00:18:02.750> to 00:18:02.860 --> 00:18:02.870 align:start position:0% finality gadget you might be able to 00:18:02.870 --> 00:18:04.660 align:start position:0% finality gadget you might be able to reduce<00:18:03.050> the<00:18:03.170> mining<00:18:03.530> subsidy<00:18:03.890> one<00:18:04.460> thing<00:18:04.610> I 00:18:04.660 --> 00:18:04.670 align:start position:0% reduce the mining subsidy one thing I 00:18:04.670 --> 00:18:06.220 align:start position:0% reduce the mining subsidy one thing I don't<00:18:04.790> understand<00:18:05.240> about<00:18:05.270> that<00:18:05.420> is<00:18:05.810> it<00:18:06.080> feels 00:18:06.220 --> 00:18:06.230 align:start position:0% don't understand about that is it feels 00:18:06.230 --> 00:18:08.110 align:start position:0% don't understand about that is it feels like<00:18:06.410> the<00:18:06.530> mining<00:18:06.920> subsidy<00:18:07.370> is<00:18:07.580> like<00:18:07.790> most 00:18:08.110 --> 00:18:08.120 align:start position:0% like the mining subsidy is like most 00:18:08.120 --> 00:18:09.760 align:start position:0% like the mining subsidy is like most useful<00:18:08.600> for<00:18:08.960> the<00:18:09.050> most<00:18:09.230> recent<00:18:09.590> blocks 00:18:09.760 --> 00:18:09.770 align:start position:0% useful for the most recent blocks 00:18:09.770 --> 00:18:11.410 align:start position:0% useful for the most recent blocks because<00:18:10.370> you<00:18:10.490> don't<00:18:10.640> have<00:18:10.880> like<00:18:11.030> really<00:18:11.270> deep 00:18:11.410 --> 00:18:11.420 align:start position:0% because you don't have like really deep 00:18:11.420 --> 00:18:13.120 align:start position:0% because you don't have like really deep reorg<00:18:11.840> and<00:18:12.080> there<00:18:12.410> will<00:18:12.530> have<00:18:12.650> to<00:18:12.830> be<00:18:12.950> like<00:18:13.100> a 00:18:13.120 --> 00:18:13.130 align:start position:0% reorg and there will have to be like a 00:18:13.130 --> 00:18:15.310 align:start position:0% reorg and there will have to be like a delay<00:18:13.460> from<00:18:14.090> the<00:18:14.180> beacon<00:18:14.570> chain<00:18:14.810> to<00:18:14.960> finalize 00:18:15.310 --> 00:18:15.320 align:start position:0% delay from the beacon chain to finalize 00:18:15.320 --> 00:18:16.720 align:start position:0% delay from the beacon chain to finalize each<00:18:15.530> one 00:18:16.720 --> 00:18:16.730 align:start position:0% each one 00:18:16.730 --> 00:18:18.790 align:start position:0% each one so<00:18:17.510> can<00:18:17.750> we<00:18:17.870> actually<00:18:18.020> reduce<00:18:18.410> the<00:18:18.530> my<00:18:18.650> name 00:18:18.790 --> 00:18:18.800 align:start position:0% so can we actually reduce the my name 00:18:18.800 --> 00:18:21.340 align:start position:0% so can we actually reduce the my name subsidy<00:18:19.280> significantly<00:18:19.910> and<00:18:20.180> and<00:18:20.570> why<00:18:21.290> is 00:18:21.340 --> 00:18:21.350 align:start position:0% subsidy significantly and and why is 00:18:21.350 --> 00:18:24.400 align:start position:0% subsidy significantly and and why is that<00:18:21.470> secure<00:18:22.210> last<00:18:23.210> question<00:18:23.570> so<00:18:23.960> that's 00:18:24.400 --> 00:18:24.410 align:start position:0% that secure last question so that's 00:18:24.410 --> 00:18:26.200 align:start position:0% that secure last question so that's actually<00:18:24.560> a<00:18:24.800> good<00:18:24.980> question 00:18:26.200 --> 00:18:26.210 align:start position:0% actually a good question 00:18:26.210 --> 00:18:28.720 align:start position:0% actually a good question I<00:18:26.800> had<00:18:27.800> this<00:18:27.950> again<00:18:28.190> this<00:18:28.280> wasn't<00:18:28.550> clear<00:18:28.700> from 00:18:28.720 --> 00:18:28.730 align:start position:0% I had this again this wasn't clear from 00:18:28.730 --> 00:18:30.820 align:start position:0% I had this again this wasn't clear from my<00:18:28.880> little<00:18:29.060> diagrams<00:18:29.480> but<00:18:29.720> basically<00:18:30.260> there's 00:18:30.820 --> 00:18:30.830 align:start position:0% my little diagrams but basically there's 00:18:30.830 --> 00:18:32.320 align:start position:0% my little diagrams but basically there's effectively<00:18:30.920> effectively<00:18:31.670> like<00:18:32.030> a<00:18:32.060> follow 00:18:32.320 --> 00:18:32.330 align:start position:0% effectively effectively like a follow 00:18:32.330 --> 00:18:36.100 align:start position:0% effectively effectively like a follow distance<00:18:32.720> between<00:18:34.120> what<00:18:35.120> the<00:18:35.660> beacon<00:18:35.990> chain 00:18:36.100 --> 00:18:36.110 align:start position:0% distance between what the beacon chain 00:18:36.110 --> 00:18:38.020 align:start position:0% distance between what the beacon chain considers<00:18:36.500> an<00:18:36.650> eighth<00:18:36.800> one<00:18:37.010> block<00:18:37.250> and<00:18:37.550> the 00:18:38.020 --> 00:18:38.030 align:start position:0% considers an eighth one block and the 00:18:38.030 --> 00:18:40.420 align:start position:0% considers an eighth one block and the actual<00:18:38.300> head<00:18:38.450> of<00:18:38.690> the<00:18:38.810> eighth<00:18:38.870> one<00:18:39.080> chain<00:18:39.430> and 00:18:40.420 --> 00:18:40.430 align:start position:0% actual head of the eighth one chain and 00:18:40.430 --> 00:18:42.220 align:start position:0% actual head of the eighth one chain and it's<00:18:40.640> actually<00:18:40.910> quite<00:18:41.060> big<00:18:41.390> right<00:18:41.630> now<00:18:41.750> the 00:18:42.220 --> 00:18:42.230 align:start position:0% it's actually quite big right now the 00:18:42.230 --> 00:18:44.200 align:start position:0% it's actually quite big right now the idea<00:18:42.500> is<00:18:42.560> like<00:18:42.890> if<00:18:43.160> we<00:18:43.520> can<00:18:43.640> deploy<00:18:43.880> all<00:18:44.090> this 00:18:44.200 --> 00:18:44.210 align:start position:0% idea is like if we can deploy all this 00:18:44.210 --> 00:18:46.240 align:start position:0% idea is like if we can deploy all this stuff<00:18:44.450> and<00:18:44.750> it<00:18:44.930> all<00:18:45.050> is<00:18:45.500> happy<00:18:45.800> it<00:18:45.890> makes<00:18:46.040> sense 00:18:46.240 --> 00:18:46.250 align:start position:0% stuff and it all is happy it makes sense 00:18:46.250 --> 00:18:47.500 align:start position:0% stuff and it all is happy it makes sense then<00:18:46.460> we<00:18:46.520> can<00:18:46.640> actually<00:18:46.730> shorten<00:18:47.030> that<00:18:47.270> a<00:18:47.300> lot 00:18:47.500 --> 00:18:47.510 align:start position:0% then we can actually shorten that a lot 00:18:47.510 --> 00:18:50.170 align:start position:0% then we can actually shorten that a lot so<00:18:48.200> the<00:18:48.320> questions<00:18:48.620> like<00:18:48.830> yeah<00:18:49.040> how<00:18:49.370> how<00:18:49.790> short 00:18:50.170 --> 00:18:50.180 align:start position:0% so the questions like yeah how how short 00:18:50.180 --> 00:18:52.120 align:start position:0% so the questions like yeah how how short can<00:18:50.360> we<00:18:50.480> make<00:18:50.630> this<00:18:50.780> follow<00:18:51.020> distance<00:18:51.380> it 00:18:52.120 --> 00:18:52.130 align:start position:0% can we make this follow distance it 00:18:52.130 --> 00:18:54.850 align:start position:0% can we make this follow distance it could<00:18:52.340> go<00:18:52.520> I<00:18:52.940> mean<00:18:53.510> theoretically<00:18:53.630> just<00:18:54.350> a<00:18:54.710> few 00:18:54.850 --> 00:18:54.860 align:start position:0% could go I mean theoretically just a few 00:18:54.860 --> 00:18:56.650 align:start position:0% could go I mean theoretically just a few blocks<00:18:54.950> behind<00:18:55.160> the<00:18:55.340> head<00:18:55.520> and<00:18:55.700> then<00:18:56.420> it's 00:18:56.650 --> 00:18:56.660 align:start position:0% blocks behind the head and then it's 00:18:56.660 --> 00:18:58.480 align:start position:0% blocks behind the head and then it's much<00:18:57.500> more<00:18:57.680> clear<00:18:57.860> like<00:18:58.130> yeah<00:18:58.280> we<00:18:58.400> can 00:18:58.480 --> 00:18:58.490 align:start position:0% much more clear like yeah we can 00:18:58.490 --> 00:19:01.510 align:start position:0% much more clear like yeah we can probably<00:18:58.550> lower<00:18:58.880> the<00:18:59.000> subsidy<00:19:00.280> okay<00:19:01.280> right<00:19:01.430> of 00:19:01.510 --> 00:19:01.520 align:start position:0% probably lower the subsidy okay right of 00:19:01.520 --> 00:19:03.310 align:start position:0% probably lower the subsidy okay right of time<00:19:01.640> thanks<00:19:02.270> to<00:19:02.300> everyone<00:19:02.600> I<00:19:02.810> know<00:19:02.900> is<00:19:03.050> early 00:19:03.310 --> 00:19:03.320 align:start position:0% time thanks to everyone I know is early 00:19:03.320 --> 00:19:04.690 align:start position:0% time thanks to everyone I know is early hopeful 00:19:04.690 --> 00:19:04.700 align:start position:0% hopeful 00:19:04.700 --> 00:19:16.340 align:start position:0% hopeful [Applause] 00:19:16.340 --> 00:19:16.350 align:start position:0% 00:19:16.350 --> 00:19:18.410 align:start position:0% you