WEBVTT Kind: captions Language: en 00:00:04.750 --> 00:00:16.109 align:start position:0% [Music] 00:00:16.109 --> 00:00:16.119 align:start position:0% 00:00:16.119 --> 00:00:18.510 align:start position:0% um<00:00:16.440> the<00:00:16.640> next<00:00:17.080> panel<00:00:17.600> and<00:00:17.760> the<00:00:17.880> panelist<00:00:18.320> may 00:00:18.510 --> 00:00:18.520 align:start position:0% um the next panel and the panelist may 00:00:18.520 --> 00:00:22.630 align:start position:0% um the next panel and the panelist may come<00:00:18.720> up<00:00:19.000> now<00:00:19.800> vitalic<00:00:20.800> Vlad<00:00:21.240> zamir<00:00:22.240> Gavin 00:00:22.630 --> 00:00:22.640 align:start position:0% come up now vitalic Vlad zamir Gavin 00:00:22.640 --> 00:00:26.509 align:start position:0% come up now vitalic Vlad zamir Gavin wood<00:00:23.640> Martin<00:00:24.119> beey<00:00:24.640> is<00:00:24.840> a<00:00:25.439> um<00:00:25.880> I<00:00:26.080> the<00:00:26.199> others 00:00:26.509 --> 00:00:26.519 align:start position:0% wood Martin beey is a um I the others 00:00:26.519 --> 00:00:28.109 align:start position:0% wood Martin beey is a um I the others have<00:00:26.679> been<00:00:26.840> introduced<00:00:27.320> already<00:00:27.720> as<00:00:27.840> a 00:00:28.109 --> 00:00:28.119 align:start position:0% have been introduced already as a 00:00:28.119 --> 00:00:31.830 align:start position:0% have been introduced already as a ethereum<00:00:28.880> uh<00:00:29.000> researcher<00:00:30.119> and<00:00:30.519> also<00:00:31.080> the<00:00:31.439> core 00:00:31.830 --> 00:00:31.840 align:start position:0% ethereum uh researcher and also the core 00:00:31.840 --> 00:00:35.190 align:start position:0% ethereum uh researcher and also the core JavaScript<00:00:32.840> implementer<00:00:33.840> and<00:00:34.520> um<00:00:34.840> finally 00:00:35.190 --> 00:00:35.200 align:start position:0% JavaScript implementer and um finally 00:00:35.200 --> 00:00:37.950 align:start position:0% JavaScript implementer and um finally Domin<00:00:35.680> Williams<00:00:36.200> please<00:00:37.079> um<00:00:37.360> the<00:00:37.520> founder 00:00:37.950 --> 00:00:37.960 align:start position:0% Domin Williams please um the founder 00:00:37.960 --> 00:00:42.110 align:start position:0% Domin Williams please um the founder co-founder<00:00:38.480> of<00:00:38.680> string<00:00:39.239> and<00:00:40.039> Divinity<00:00:41.039> so<00:00:41.640> um 00:00:42.110 --> 00:00:42.120 align:start position:0% co-founder of string and Divinity so um 00:00:42.120 --> 00:00:45.590 align:start position:0% co-founder of string and Divinity so um without<00:00:42.399> further<00:00:42.760> Ado<00:00:43.320> 11:15<00:00:44.000> and<00:00:44.160> 12<00:00:44.480> ton<00:00:45.120> and 00:00:45.590 --> 00:00:45.600 align:start position:0% without further Ado 11:15 and 12 ton and 00:00:45.600 --> 00:00:47.830 align:start position:0% without further Ado 11:15 and 12 ton and I'll<00:00:46.600> please<00:00:46.840> take<00:00:47.000> it<00:00:47.120> away<00:00:47.320> gab<00:00:47.600> Gavin 00:00:47.830 --> 00:00:47.840 align:start position:0% I'll please take it away gab Gavin 00:00:47.840 --> 00:00:51.510 align:start position:0% I'll please take it away gab Gavin you'll<00:00:48.039> be<00:00:48.120> moderating<00:00:48.600> then<00:00:48.920> yes<00:00:49.520> okay<00:00:49.879> thank 00:00:51.510 --> 00:00:51.520 align:start position:0% you'll be moderating then yes okay thank 00:00:51.520 --> 00:00:56.790 align:start position:0% you'll be moderating then yes okay thank you<00:00:52.520> thank<00:00:52.879> you<00:00:53.879> uh<00:00:54.199> yeah<00:00:54.440> scalability<00:00:55.280> the<00:00:55.879> um 00:00:56.790 --> 00:00:56.800 align:start position:0% you thank you uh yeah scalability the um 00:00:56.800 --> 00:00:58.990 align:start position:0% you thank you uh yeah scalability the um uh<00:00:56.920> the<00:00:57.000> burning<00:00:57.440> issue<00:00:57.800> really<00:00:58.719> at<00:00:58.840> the 00:00:58.990 --> 00:00:59.000 align:start position:0% uh the burning issue really at the 00:00:59.000 --> 00:01:02.990 align:start position:0% uh the burning issue really at the moment<00:00:59.719> um<00:01:00.120> one<00:01:00.399> that<00:01:00.960> blockchains<00:01:01.960> um<00:01:02.680> are 00:01:02.990 --> 00:01:03.000 align:start position:0% moment um one that blockchains um are 00:01:03.000 --> 00:01:06.630 align:start position:0% moment um one that blockchains um are often<00:01:03.359> criticized<00:01:03.960> for<00:01:04.320> along<00:01:04.559> with<00:01:05.000> privacy 00:01:06.630 --> 00:01:06.640 align:start position:0% often criticized for along with privacy 00:01:06.640 --> 00:01:09.710 align:start position:0% often criticized for along with privacy um<00:01:07.640> so<00:01:07.880> I'll<00:01:08.040> start<00:01:08.320> by<00:01:08.520> getting<00:01:09.280> the<00:01:09.439> guys<00:01:09.600> to 00:01:09.710 --> 00:01:09.720 align:start position:0% um so I'll start by getting the guys to 00:01:09.720 --> 00:01:14.870 align:start position:0% um so I'll start by getting the guys to introduce<00:01:10.320> themselves<00:01:11.080> um<00:01:11.280> balic<00:01:12.280> yeah<00:01:13.000> so 00:01:14.870 --> 00:01:14.880 align:start position:0% introduce themselves um balic yeah so 00:01:14.880 --> 00:01:17.230 align:start position:0% introduce themselves um balic yeah so um<00:01:15.880> founder<00:01:16.240> and<00:01:16.360> chief<00:01:16.640> scientist<00:01:17.000> of<00:01:17.119> the 00:01:17.230 --> 00:01:17.240 align:start position:0% um founder and chief scientist of the 00:01:17.240 --> 00:01:18.990 align:start position:0% um founder and chief scientist of the ethereum<00:01:17.799> project<00:01:18.360> but<00:01:18.560> regarding 00:01:18.990 --> 00:01:19.000 align:start position:0% ethereum project but regarding 00:01:19.000 --> 00:01:21.270 align:start position:0% ethereum project but regarding scalability<00:01:19.960> specifically<00:01:20.640> I<00:01:20.720> mean<00:01:21.079> I've 00:01:21.270 --> 00:01:21.280 align:start position:0% scalability specifically I mean I've 00:01:21.280 --> 00:01:22.710 align:start position:0% scalability specifically I mean I've been<00:01:21.560> working 00:01:22.710 --> 00:01:22.720 align:start position:0% been working 00:01:22.720 --> 00:01:25.910 align:start position:0% been working on<00:01:23.720> SK<00:01:24.119> trying<00:01:24.479> to<00:01:24.680> figure<00:01:24.960> out<00:01:25.200> how<00:01:25.320> to<00:01:25.520> scale 00:01:25.910 --> 00:01:25.920 align:start position:0% on SK trying to figure out how to scale 00:01:25.920 --> 00:01:29.230 align:start position:0% on SK trying to figure out how to scale ethereum<00:01:26.600> for<00:01:27.560> well<00:01:27.759> over<00:01:28.000> a<00:01:28.200> year<00:01:28.520> alongside 00:01:29.230 --> 00:01:29.240 align:start position:0% ethereum for well over a year alongside 00:01:29.240 --> 00:01:33.350 align:start position:0% ethereum for well over a year alongside people<00:01:29.600> like<00:01:30.040> yeah<00:01:30.720> of<00:01:31.880> Vlad<00:01:32.880> you<00:01:33.000> know 00:01:33.350 --> 00:01:33.360 align:start position:0% people like yeah of Vlad you know 00:01:33.360 --> 00:01:36.469 align:start position:0% people like yeah of Vlad you know Dominique<00:01:33.759> and<00:01:33.880> a<00:01:33.960> few<00:01:34.200> others<00:01:34.840> and<00:01:35.640> we've<00:01:36.399> I 00:01:36.469 --> 00:01:36.479 align:start position:0% Dominique and a few others and we've I 00:01:36.479 --> 00:01:38.550 align:start position:0% Dominique and a few others and we've I think<00:01:36.720> we've<00:01:37.040> generally<00:01:37.479> sort<00:01:37.680> of<00:01:37.920> converged 00:01:38.550 --> 00:01:38.560 align:start position:0% think we've generally sort of converged 00:01:38.560 --> 00:01:40.910 align:start position:0% think we've generally sort of converged on<00:01:38.880> a<00:01:39.399> on<00:01:39.479> a<00:01:39.600> fairly<00:01:39.920> small<00:01:40.200> set<00:01:40.399> of<00:01:40.640> set<00:01:40.759> of 00:01:40.910 --> 00:01:40.920 align:start position:0% on a on a fairly small set of set of 00:01:40.920 --> 00:01:42.590 align:start position:0% on a on a fairly small set of set of strategies<00:01:41.439> that<00:01:41.600> we<00:01:41.759> roughly<00:01:42.079> agree<00:01:42.360> are 00:01:42.590 --> 00:01:42.600 align:start position:0% strategies that we roughly agree are 00:01:42.600 --> 00:01:44.749 align:start position:0% strategies that we roughly agree are going<00:01:42.799> to<00:01:43.640> essentially<00:01:44.119> take<00:01:44.280> us<00:01:44.439> from<00:01:44.640> here 00:01:44.749 --> 00:01:44.759 align:start position:0% going to essentially take us from here 00:01:44.759 --> 00:01:46.590 align:start position:0% going to essentially take us from here to<00:01:44.960> there<00:01:45.200> that<00:01:45.399> we'll<00:01:45.560> get<00:01:45.680> into<00:01:45.920> too<00:01:46.159> deeply 00:01:46.590 --> 00:01:46.600 align:start position:0% to there that we'll get into too deeply 00:01:46.600 --> 00:01:48.550 align:start position:0% to there that we'll get into too deeply because<00:01:46.960> that's<00:01:47.640> kind<00:01:47.759> of<00:01:47.920> the<00:01:48.040> purpose<00:01:48.360> of 00:01:48.550 --> 00:01:48.560 align:start position:0% because that's kind of the purpose of 00:01:48.560 --> 00:01:51.109 align:start position:0% because that's kind of the purpose of this<00:01:48.759> hour<00:01:49.280> and<00:01:49.520> you<00:01:49.640> know<00:01:50.079> several<00:01:50.360> future 00:01:51.109 --> 00:01:51.119 align:start position:0% this hour and you know several future 00:01:51.119 --> 00:01:54.230 align:start position:0% this hour and you know several future presentations<00:01:52.119> but<00:01:52.920> I've<00:01:53.119> been<00:01:53.479> in<00:01:53.759> involved 00:01:54.230 --> 00:01:54.240 align:start position:0% presentations but I've been in involved 00:01:54.240 --> 00:01:57.950 align:start position:0% presentations but I've been in involved in<00:01:54.439> trying<00:01:54.960> to<00:01:55.960> figure<00:01:56.240> out<00:01:56.520> how<00:01:56.680> to<00:01:56.920> move<00:01:57.640> from 00:01:57.950 --> 00:01:57.960 align:start position:0% in trying to figure out how to move from 00:01:57.960 --> 00:02:00.670 align:start position:0% in trying to figure out how to move from sort<00:01:58.159> of<00:01:58.479> very<00:01:58.759> simple<00:01:59.560> every<00:01:59.960> node<00:02:00.200> processes 00:02:00.670 --> 00:02:00.680 align:start position:0% sort of very simple every node processes 00:02:00.680 --> 00:02:03.310 align:start position:0% sort of very simple every node processes every<00:02:01.200> transactions<00:02:02.200> type<00:02:02.360> of<00:02:02.479> proof<00:02:02.640> of<00:02:02.799> work 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you know 00:02:11.319 --> 00:02:13.070 align:start position:0% have been in ethereum ever you know pretty<00:02:11.480> much<00:02:11.680> ever<00:02:11.879> since<00:02:12.080> the<00:02:12.239> beginning 00:02:13.070 --> 00:02:13.080 align:start position:0% pretty much ever since the beginning 00:02:13.080 --> 00:02:14.470 align:start position:0% pretty much ever since the beginning since<00:02:13.400> then<00:02:13.560> you<00:02:13.640> know<00:02:13.760> Vlad<00:02:14.120> and<00:02:14.200> I<00:02:14.319> were 00:02:14.470 --> 00:02:14.480 align:start position:0% since then you know Vlad and I were 00:02:14.480 --> 00:02:16.110 align:start position:0% since then you know Vlad and I were talking<00:02:14.800> about<00:02:15.000> things<00:02:15.200> like<00:02:15.400> Hub<00:02:15.680> chains 00:02:16.110 --> 00:02:16.120 align:start position:0% talking about things like Hub chains 00:02:16.120 --> 00:02:18.830 align:start position:0% talking about things like Hub chains spoke<00:02:16.800> um<00:02:17.400> Hub<00:02:17.599> and<00:02:17.760> spoke<00:02:18.080> chains 00:02:18.830 --> 00:02:18.840 align:start position:0% spoke um Hub and spoke chains 00:02:18.840 --> 00:02:24.390 align:start position:0% spoke um Hub and spoke chains 12-dimensional<00:02:19.280> hyper<00:02:20.200> cubes<00:02:21.360> and<00:02:22.720> so<00:02:23.720> I<00:02:24.040> I 00:02:24.390 --> 00:02:24.400 align:start position:0% 12-dimensional hyper cubes and so I I 00:02:24.400 --> 00:02:27.150 align:start position:0% 12-dimensional hyper cubes and so I I wrote<00:02:24.959> a<00:02:25.040> sort<00:02:25.239> of<00:02:25.680> very<00:02:26.040> lar<00:02:26.440> large<00:02:26.760> paper<00:02:27.040> on 00:02:27.150 --> 00:02:27.160 align:start position:0% wrote a sort of very lar large paper on 00:02:27.160 --> 00:02:28.990 align:start position:0% wrote a sort of very lar large paper on the<00:02:27.480> on<00:02:27.560> the<00:02:27.760> topic<00:02:28.040> about<00:02:28.319> six<00:02:28.519> months<00:02:28.760> ago 00:02:28.990 --> 00:02:29.000 align:start position:0% the on the topic about six months ago 00:02:29.000 --> 00:02:31.150 align:start position:0% the on the topic about six months ago then<00:02:29.160> I'm<00:02:29.400> probably<00:02:29.840> going<00:02:29.959> to<00:02:30.120> do<00:02:30.599> a<00:02:30.760> bunch<00:02:30.959> of 00:02:31.150 --> 00:02:31.160 align:start position:0% then I'm probably going to do a bunch of 00:02:31.160 --> 00:02:35.710 align:start position:0% then I'm probably going to do a bunch of major<00:02:31.519> major<00:02:31.879> revisions<00:02:32.360> too<00:02:33.560> so<00:02:34.599> that's<00:02:35.599> you 00:02:35.710 --> 00:02:35.720 align:start position:0% major major revisions too so that's you 00:02:35.720 --> 00:02:38.190 align:start position:0% major major revisions too so that's you know<00:02:36.120> in<00:02:36.319> general<00:02:36.680> sort<00:02:36.840> of<00:02:37.200> figuring<00:02:37.599> out<00:02:38.000> how 00:02:38.190 --> 00:02:38.200 align:start position:0% know in general sort of figuring out how 00:02:38.200 --> 00:02:41.350 align:start position:0% know in general sort of figuring out how to<00:02:38.959> especi<00:02:39.560> really<00:02:39.920> make<00:02:40.400> make<00:02:40.599> blockchains 00:02:41.350 --> 00:02:41.360 align:start position:0% to especi really make make blockchains 00:02:41.360 --> 00:02:43.589 align:start position:0% to especi really make make blockchains and<00:02:41.519> you<00:02:41.640> know<00:02:41.800> using<00:02:42.080> ethereum<00:02:42.680> because<00:02:42.959> it's 00:02:43.589 --> 00:02:43.599 align:start position:0% and you know using ethereum because it's 00:02:43.599 --> 00:02:45.390 align:start position:0% and you know using ethereum because it's you<00:02:43.720> know<00:02:43.920> if<00:02:44.000> you<00:02:44.120> can<00:02:44.280> make<00:02:44.440> ethereum<00:02:44.959> scale 00:02:45.390 --> 00:02:45.400 align:start position:0% you know if you can make ethereum scale 00:02:45.400 --> 00:02:47.670 align:start position:0% you know if you can make ethereum scale then<00:02:45.519> you<00:02:45.800> can<00:02:46.239> make<00:02:46.879> basically<00:02:47.239> make<00:02:47.480> any 00:02:47.670 --> 00:02:47.680 align:start position:0% then you can make basically make any 00:02:47.680 --> 00:02:49.910 align:start position:0% then you can make basically make any other<00:02:47.879> protocol<00:02:48.879> other<00:02:49.080> protocol<00:02:49.480> scale<00:02:49.760> by 00:02:49.910 --> 00:02:49.920 align:start position:0% other protocol other protocol scale by 00:02:49.920 --> 00:02:52.390 align:start position:0% other protocol other protocol scale by writing<00:02:50.120> it<00:02:50.239> in<00:02:50.360> ethereum<00:02:50.879> code<00:02:51.720> so<00:02:51.959> you<00:02:52.040> know 00:02:52.390 --> 00:02:52.400 align:start position:0% writing it in ethereum code so you know 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trans<00:02:59.760> transactions 00:03:00.190 --> 00:03:00.200 align:start position:0% large number of trans transactions 00:03:00.200 --> 00:03:02.430 align:start position:0% large number of trans transactions that's<00:03:00.400> going<00:03:00.519> to<00:03:00.640> be<00:03:00.760> needed<00:03:01.200> especially<00:03:01.840> if 00:03:02.430 --> 00:03:02.440 align:start position:0% that's going to be needed especially if 00:03:02.440 --> 00:03:04.869 align:start position:0% that's going to be needed especially if we're<00:03:02.760> really<00:03:03.120> serious<00:03:03.799> about<00:03:04.360> this<00:03:04.599> whole 00:03:04.869 --> 00:03:04.879 align:start position:0% we're really serious about this whole 00:03:04.879 --> 00:03:06.830 align:start position:0% we're really serious about this whole sort<00:03:05.040> of<00:03:05.560> moving<00:03:05.959> blockchains<00:03:06.480> beyond 00:03:06.830 --> 00:03:06.840 align:start position:0% sort of moving blockchains beyond 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align:start position:0% device type uh type of vision and you know<00:03:14.200> seeing<00:03:14.400> if<00:03:14.519> we<00:03:14.599> can<00:03:14.760> make<00:03:14.879> it 00:03:21.750 --> 00:03:21.760 align:start position:0% 00:03:21.760 --> 00:03:25.190 align:start position:0% happen<00:03:22.760> uh<00:03:22.959> hi<00:03:23.080> I'm<00:03:23.239> Martin<00:03:23.799> um<00:03:24.200> I<00:03:24.519> implemented 00:03:25.190 --> 00:03:25.200 align:start position:0% happen uh hi I'm Martin um I implemented 00:03:25.200 --> 00:03:29.229 align:start position:0% happen uh hi I'm Martin um I implemented JavaScript<00:03:25.920> client<00:03:26.480> and<00:03:26.840> um<00:03:27.840> um<00:03:28.280> I<00:03:28.519> enjoyed 00:03:29.229 --> 00:03:29.239 align:start position:0% JavaScript client and um um I enjoyed 00:03:29.239 --> 00:03:30.550 align:start position:0% JavaScript client and um um I enjoyed hanging<00:03:29.480> out<00:03:29.760> and<00:03:29.920> talking<00:03:30.159> about 00:03:30.550 --> 00:03:30.560 align:start position:0% hanging out and talking about 00:03:30.560 --> 00:03:33.309 align:start position:0% hanging out and talking about scalability<00:03:31.560> uh<00:03:31.720> it's<00:03:31.879> been<00:03:32.080> really<00:03:32.319> fun<00:03:32.560> to 00:03:33.309 --> 00:03:33.319 align:start position:0% scalability uh it's been really fun to 00:03:33.319 --> 00:03:36.589 align:start position:0% scalability uh it's been really fun to see<00:03:34.319> um<00:03:34.799> the<00:03:34.959> ideas<00:03:35.439> progress<00:03:35.840> from<00:03:36.159> like<00:03:36.439> uh 00:03:36.589 --> 00:03:36.599 align:start position:0% see um the ideas progress from like uh 00:03:36.599 --> 00:03:39.509 align:start position:0% see um the ideas progress from like uh hyper<00:03:37.000> cubes<00:03:37.360> and<00:03:37.760> tree<00:03:38.040> chains<00:03:38.720> to<00:03:39.200> to<00:03:39.360> where 00:03:39.509 --> 00:03:39.519 align:start position:0% hyper cubes and tree chains to to where 00:03:39.519 --> 00:03:41.070 align:start position:0% hyper cubes and tree chains to to where we<00:03:39.640> are 00:03:41.070 --> 00:03:41.080 align:start position:0% we are 00:03:41.080 --> 00:03:44.190 align:start position:0% we are now<00:03:42.080> I<00:03:42.200> think<00:03:42.360> we're<00:03:42.680> we're<00:03:42.879> headed<00:03:43.680> uh<00:03:43.920> pretty 00:03:44.190 --> 00:03:44.200 align:start position:0% now I think we're we're headed uh pretty 00:03:44.200 --> 00:03:47.589 align:start position:0% now I think we're we're headed uh pretty rapidly<00:03:44.560> we<00:03:45.200> as<00:03:45.480> valal<00:03:46.120> said<00:03:46.599> like<00:03:47.159> the<00:03:47.280> ideas 00:03:47.589 --> 00:03:47.599 align:start position:0% rapidly we as valal said like the ideas 00:03:47.599 --> 00:03:49.070 align:start position:0% rapidly we as valal said like the ideas in<00:03:47.760> space<00:03:48.000> are<00:03:48.120> converging<00:03:48.640> and<00:03:48.760> it's<00:03:48.879> really 00:03:49.070 --> 00:03:49.080 align:start position:0% in space are converging and it's really 00:03:49.080 --> 00:03:53.550 align:start position:0% in space are converging and it's really exciting<00:03:49.439> to<00:03:49.599> see<00:03:50.519> um<00:03:51.120> yeah<00:03:52.120> cool<00:03:52.640> Dominic 00:03:53.550 --> 00:03:53.560 align:start position:0% exciting to see um yeah cool Dominic 00:03:53.560 --> 00:03:56.350 align:start position:0% exciting to see um yeah cool Dominic does<00:03:53.720> it<00:03:53.879> work<00:03:54.239> does<00:03:54.360> it<00:03:54.519> work<00:03:55.280> does<00:03:55.439> it<00:03:55.599> work 00:03:56.350 --> 00:03:56.360 align:start position:0% does it work does it work does it work 00:03:56.360 --> 00:03:58.390 align:start position:0% does it work does it work does it work maybe<00:03:57.040> maybe<00:03:57.319> you<00:03:57.439> want<00:03:57.640> you<00:03:57.720> want<00:03:58.079> I'll<00:03:58.239> try 00:03:58.390 --> 00:03:58.400 align:start position:0% maybe maybe you want you want I'll try 00:03:58.400 --> 00:04:01.630 align:start position:0% maybe maybe you want you want I'll try it<00:03:58.599> yeah<00:03:59.360> hi<00:03:59.760> I'm<00:03:59.920> Dominic<00:04:00.640> um<00:04:01.159> I'm<00:04:01.280> a 00:04:01.630 --> 00:04:01.640 align:start position:0% it yeah hi I'm Dominic um I'm a 00:04:01.640 --> 00:04:03.830 align:start position:0% it yeah hi I'm Dominic um I'm a entrepreneur<00:04:02.120> and<00:04:02.200> engineer<00:04:02.959> I'm<00:04:03.200> currently 00:04:03.830 --> 00:04:03.840 align:start position:0% entrepreneur and engineer I'm currently 00:04:03.840 --> 00:04:07.589 align:start position:0% entrepreneur and engineer I'm currently co-founder<00:04:04.439> of<00:04:04.760> uh<00:04:04.879> finex<00:04:05.360> stal<00:04:05.959> string<00:04:06.959> and 00:04:07.589 --> 00:04:07.599 align:start position:0% co-founder of uh finex stal string and 00:04:07.599 --> 00:04:11.309 align:start position:0% co-founder of uh finex stal string and uh<00:04:08.599> founder<00:04:08.959> of<00:04:09.120> the<00:04:09.319> definity<00:04:10.159> scalable<00:04:11.159> uh 00:04:11.309 --> 00:04:11.319 align:start position:0% uh founder of the definity scalable uh 00:04:11.319 --> 00:04:14.309 align:start position:0% uh founder of the definity scalable uh blockchain<00:04:12.200> project<00:04:13.200> um<00:04:13.640> which<00:04:13.760> is<00:04:13.959> focused 00:04:14.309 --> 00:04:14.319 align:start position:0% blockchain project um which is focused 00:04:14.319 --> 00:04:17.069 align:start position:0% blockchain project um which is focused on<00:04:14.480> advancing<00:04:15.360> sort<00:04:15.519> of<00:04:15.640> blockchain<00:04:16.120> science 00:04:17.069 --> 00:04:17.079 align:start position:0% on advancing sort of blockchain science 00:04:17.079 --> 00:04:18.710 align:start position:0% on advancing sort of blockchain science uh<00:04:17.160> with<00:04:17.280> a<00:04:17.440> particular<00:04:17.840> focus<00:04:18.199> on 00:04:18.710 --> 00:04:18.720 align:start position:0% uh with a particular focus on 00:04:18.720 --> 00:04:20.909 align:start position:0% uh with a particular focus on distributed<00:04:19.160> virtual<00:04:19.440> machines<00:04:20.400> the<00:04:20.600> kind 00:04:20.909 --> 00:04:20.919 align:start position:0% distributed virtual machines the kind 00:04:20.919 --> 00:04:26.670 align:start position:0% distributed virtual machines the kind ethereum<00:04:21.680> is<00:04:22.680> um<00:04:23.000> before<00:04:23.320> that<00:04:23.639> I<00:04:24.720> um<00:04:25.720> uh 00:04:26.670 --> 00:04:26.680 align:start position:0% ethereum is um before that I um uh 00:04:26.680 --> 00:04:28.390 align:start position:0% ethereum is um before that I um uh created<00:04:27.040> a<00:04:27.160> game<00:04:27.360> a<00:04:27.479> computer<00:04:27.840> game<00:04:28.160> back<00:04:28.280> in 00:04:28.390 --> 00:04:28.400 align:start position:0% created a game a computer game back in 00:04:28.400 --> 00:04:30.710 align:start position:0% created a game a computer game back in the<00:04:28.479> UK<00:04:28.840> and<00:04:28.960> then<00:04:29.199> moved<00:04:29.440> to<00:04:29.720> us<00:04:30.199> about<00:04:30.479> 3 00:04:30.710 --> 00:04:30.720 align:start position:0% the UK and then moved to us about 3 00:04:30.720 --> 00:04:33.830 align:start position:0% the UK and then moved to us about 3 years<00:04:31.000> ago<00:04:32.000> um<00:04:32.360> the<00:04:32.520> definity<00:04:33.039> project<00:04:33.400> itself 00:04:33.830 --> 00:04:33.840 align:start position:0% years ago um the definity project itself 00:04:33.840 --> 00:04:36.749 align:start position:0% years ago um the definity project itself came<00:04:34.039> out<00:04:34.199> of<00:04:34.440> a<00:04:34.880> now<00:04:35.120> defunct<00:04:35.759> cryptocurrency 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position:0% cryptocurrencies uh back then with a focus<00:04:43.800> on 00:04:48.710 --> 00:04:48.720 align:start position:0% 00:04:48.720 --> 00:04:51.629 align:start position:0% micropayments<00:04:49.720> um<00:04:50.080> oh<00:04:50.240> there<00:04:50.320> we<00:04:50.520> go<00:04:51.520> I've 00:04:51.629 --> 00:04:51.639 align:start position:0% micropayments um oh there we go I've 00:04:51.639 --> 00:04:54.590 align:start position:0% micropayments um oh there we go I've been<00:04:51.840> working<00:04:52.160> on<00:04:52.759> proof<00:04:53.600> uh<00:04:53.919> proof<00:04:54.240> stake 00:04:54.590 --> 00:04:54.600 align:start position:0% been working on proof uh proof stake 00:04:54.600 --> 00:04:56.710 align:start position:0% been working on proof uh proof stake obviously<00:04:54.919> for<00:04:55.120> like<00:04:55.240> a<00:04:55.400> year<00:04:55.680> and<00:04:55.800> I've<00:04:56.520> also 00:04:56.710 --> 00:04:56.720 align:start position:0% obviously for like a year and I've also 00:04:56.720 --> 00:04:59.590 align:start position:0% obviously for like a year and I've also been<00:04:56.919> working<00:04:57.160> on<00:04:57.919> scaling<00:04:58.919> um<00:04:59.240> a<00:04:59.320> little<00:04:59.520> a 00:04:59.590 --> 00:04:59.600 align:start position:0% been working on scaling um a little a 00:04:59.600 --> 00:05:01.029 align:start position:0% been working on scaling um a little a little<00:04:59.680> bit<00:05:00.160> before<00:05:00.440> I<00:05:00.520> started<00:05:00.759> working<00:05:00.919> on 00:05:01.029 --> 00:05:01.039 align:start position:0% little bit before I started working on 00:05:01.039 --> 00:05:02.790 align:start position:0% little bit before I started working on proof<00:05:01.199> of<00:05:01.280> stake<00:05:01.520> I<00:05:01.560> was<00:05:01.680> working<00:05:01.880> on<00:05:02.520> like 00:05:02.790 --> 00:05:02.800 align:start position:0% proof of stake I was working on like 00:05:02.800 --> 00:05:04.469 align:start position:0% proof of stake I was working on like proof<00:05:03.039> of<00:05:03.199> work<00:05:03.440> only<00:05:03.759> scaling<00:05:04.160> and<00:05:04.240> I<00:05:04.320> still 00:05:04.469 --> 00:05:04.479 align:start position:0% proof of work only scaling and I still 00:05:04.479 --> 00:05:06.390 align:start position:0% proof of work only scaling and I still remember<00:05:04.759> my<00:05:04.919> first<00:05:05.280> idea<00:05:05.759> it's<00:05:05.919> called<00:05:06.160> proof 00:05:06.390 --> 00:05:06.400 align:start position:0% remember my first idea it's called proof 00:05:06.400 --> 00:05:08.310 align:start position:0% remember my first idea it's called proof of<00:05:06.560> proof<00:05:06.800> of<00:05:06.960> work<00:05:07.720> where<00:05:07.880> you<00:05:08.000> would<00:05:08.120> have 00:05:08.310 --> 00:05:08.320 align:start position:0% of proof of work where you would have 00:05:08.320 --> 00:05:10.430 align:start position:0% of proof of work where you would have like<00:05:08.440> a<00:05:08.960> concise<00:05:09.520> proof<00:05:09.840> there<00:05:09.960> was<00:05:10.120> a<00:05:10.199> lot<00:05:10.320> of 00:05:10.430 --> 00:05:10.440 align:start position:0% like a concise proof there was a lot of 00:05:10.440 --> 00:05:13.909 align:start position:0% like a concise proof there was a lot of proof<00:05:10.639> of<00:05:10.759> work<00:05:10.960> somewhere<00:05:11.360> else<00:05:12.759> um<00:05:13.759> and 00:05:13.909 --> 00:05:13.919 align:start position:0% proof of work somewhere else um and 00:05:13.919 --> 00:05:15.270 align:start position:0% proof of work somewhere else um and since<00:05:14.160> then<00:05:14.320> we've<00:05:14.520> yeah<00:05:14.680> we've<00:05:14.800> come<00:05:14.960> a<00:05:15.080> long 00:05:15.270 --> 00:05:15.280 align:start position:0% since then we've yeah we've come a long 00:05:15.280 --> 00:05:17.310 align:start position:0% since then we've yeah we've come a long way<00:05:15.680> uh<00:05:15.759> we<00:05:15.919> had<00:05:16.120> like<00:05:16.520> had<00:05:16.639> a<00:05:16.759> period<00:05:17.000> of<00:05:17.160> time 00:05:17.310 --> 00:05:17.320 align:start position:0% way uh we had like had a period of time 00:05:17.320 --> 00:05:19.670 align:start position:0% way uh we had like had a period of time where<00:05:17.440> I<00:05:17.600> really<00:05:17.840> thought<00:05:18.120> that<00:05:18.560> um<00:05:19.120> the 00:05:19.670 --> 00:05:19.680 align:start position:0% where I really thought that um the 00:05:19.680 --> 00:05:21.350 align:start position:0% where I really thought that um the correct<00:05:19.960> way<00:05:20.080> to<00:05:20.199> scale<00:05:20.520> would<00:05:20.680> be<00:05:20.840> to<00:05:21.120> have<00:05:21.280> a 00:05:21.350 --> 00:05:21.360 align:start position:0% correct way to scale would be to have a 00:05:21.360 --> 00:05:22.950 align:start position:0% correct way to scale would be to have a lot<00:05:21.520> of<00:05:21.639> blockchains<00:05:22.120> and<00:05:22.280> find<00:05:22.440> a<00:05:22.560> way<00:05:22.720> to 00:05:22.950 --> 00:05:22.960 align:start position:0% lot of blockchains and find a way to 00:05:22.960 --> 00:05:24.309 align:start position:0% lot of blockchains and find a way to that<00:05:23.080> they<00:05:23.160> can<00:05:23.280> reinforce<00:05:23.759> each<00:05:23.880> other's 00:05:24.309 --> 00:05:24.319 align:start position:0% that they can reinforce each other's 00:05:24.319 --> 00:05:27.510 align:start position:0% that they can reinforce each other's security<00:05:25.319> by<00:05:26.080> interoperating<00:05:27.080> after<00:05:27.360> the 00:05:27.510 --> 00:05:27.520 align:start position:0% security by interoperating after the 00:05:27.520 --> 00:05:29.550 align:start position:0% security by interoperating after the fact<00:05:28.479> called<00:05:28.680> like<00:05:28.800> the<00:05:28.880> multi-chain 00:05:29.550 --> 00:05:29.560 align:start position:0% fact called like the multi-chain 00:05:29.560 --> 00:05:31.270 align:start position:0% fact called like the multi-chain approach<00:05:30.400> and<00:05:30.520> ever<00:05:30.759> since<00:05:30.919> then<00:05:31.039> we've<00:05:31.160> been 00:05:31.270 --> 00:05:31.280 align:start position:0% approach and ever since then we've been 00:05:31.280 --> 00:05:32.790 align:start position:0% approach and ever since then we've been moving<00:05:31.639> more<00:05:31.800> and<00:05:31.919> more<00:05:32.120> towards<00:05:32.440> these<00:05:32.639> kind 00:05:32.790 --> 00:05:32.800 align:start position:0% moving more and more towards these kind 00:05:32.800 --> 00:05:34.909 align:start position:0% moving more and more towards these kind of<00:05:33.319> uh<00:05:33.440> scaling<00:05:33.840> solutions<00:05:34.199> that<00:05:34.440> provide<00:05:34.800> a 00:05:34.909 --> 00:05:34.919 align:start position:0% of uh scaling solutions that provide a 00:05:34.919 --> 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align:start position:0% explicitly um and I think that you know 00:05:44.919 --> 00:05:47.150 align:start position:0% explicitly um and I think that you know that's<00:05:45.199> one<00:05:45.360> of<00:05:45.560> the<00:05:45.720> key<00:05:46.280> design<00:05:46.680> principles 00:05:47.150 --> 00:05:47.160 align:start position:0% that's one of the key design principles 00:05:47.160 --> 00:05:48.670 align:start position:0% that's one of the key design principles that<00:05:47.280> we<00:05:47.400> have<00:05:47.520> in<00:05:47.600> our<00:05:47.759> current 00:05:48.670 --> 00:05:48.680 align:start position:0% that we have in our current 00:05:48.680 --> 00:05:51.070 align:start position:0% that we have in our current scaling<00:05:49.680> um 00:05:51.070 --> 00:05:51.080 align:start position:0% scaling um 00:05:51.080 --> 00:05:54.350 align:start position:0% scaling um approach<00:05:52.080> cool<00:05:52.680> um<00:05:52.919> so<00:05:53.600> FL<00:05:53.960> one<00:05:54.039> of<00:05:54.160> the<00:05:54.240> things 00:05:54.350 --> 00:05:54.360 align:start position:0% approach cool um so FL one of the things 00:05:54.360 --> 00:05:55.510 align:start position:0% approach cool um so FL one of the things you've<00:05:54.520> been<00:05:54.639> working<00:05:54.840> on<00:05:54.960> recently<00:05:55.360> is 00:05:55.510 --> 00:05:55.520 align:start position:0% you've been working on recently is 00:05:55.520 --> 00:05:57.270 align:start position:0% you've been working on recently is indeed<00:05:55.880> Casper<00:05:56.319> so<00:05:56.479> the<00:05:56.600> new<00:05:57.000> people<00:05:57.160> have 00:05:57.270 --> 00:05:57.280 align:start position:0% indeed Casper so the new people have 00:05:57.280 --> 00:06:01.469 align:start position:0% indeed Casper so the new people have worked<00:05:57.840> States<00:05:58.360> what<00:05:58.560> do<00:05:58.680> you<00:05:58.880> see<00:05:59.240> as<00:05:59.880> being 00:06:01.469 --> 00:06:01.479 align:start position:0% worked States what do you see as being 00:06:01.479 --> 00:06:05.270 align:start position:0% worked States what do you see as being um<00:06:02.479> uh<00:06:03.080> important<00:06:04.080> um<00:06:04.560> in<00:06:04.800> terms<00:06:05.120> of 00:06:05.270 --> 00:06:05.280 align:start position:0% um uh important um in terms of 00:06:05.280 --> 00:06:07.270 align:start position:0% um uh important um in terms of scalability<00:06:06.240> with<00:06:06.440> the<00:06:06.800> work<00:06:07.000> that<00:06:07.120> you've 00:06:07.270 --> 00:06:07.280 align:start position:0% scalability with the work that you've 00:06:07.280 --> 00:06:08.510 align:start position:0% scalability with the work that you've been<00:06:07.440> doing<00:06:07.639> on 00:06:08.510 --> 00:06:08.520 align:start position:0% been doing on 00:06:08.520 --> 00:06:13.070 align:start position:0% been doing on this<00:06:09.520> sure<00:06:10.240> so<00:06:11.240> Casper<00:06:11.720> being<00:06:12.440> sorry<00:06:12.720> Casper 00:06:13.070 --> 00:06:13.080 align:start position:0% this sure so Casper being sorry Casper 00:06:13.080 --> 00:06:14.870 align:start position:0% this sure so Casper being sorry Casper being<00:06:13.199> a<00:06:13.280> single<00:06:13.560> blockchain<00:06:14.000> doesn't 00:06:14.870 --> 00:06:14.880 align:start position:0% being a single blockchain doesn't 00:06:14.880 --> 00:06:17.990 align:start position:0% being a single blockchain doesn't directly<00:06:15.680> solve<00:06:16.000> the<00:06:16.120> scaling<00:06:16.720> problem<00:06:17.560> um 00:06:17.990 --> 00:06:18.000 align:start position:0% directly solve the scaling problem um 00:06:18.000 --> 00:06:19.550 align:start position:0% directly solve the scaling problem um but<00:06:18.199> there<00:06:18.319> are<00:06:18.520> a<00:06:18.680> couple<00:06:18.960> of<00:06:19.199> things<00:06:19.440> that 00:06:19.550 --> 00:06:19.560 align:start position:0% but there are a couple of things that 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the idea that<00:06:30.520> we<00:06:30.639> can<00:06:31.479> um<00:06:32.240> go<00:06:32.520> and<00:06:32.800> punish<00:06:33.360> particular 00:06:33.909 --> 00:06:33.919 align:start position:0% that we can um go and punish particular 00:06:33.919 --> 00:06:36.790 align:start position:0% that we can um go and punish particular nodes<00:06:34.360> for<00:06:34.560> producing<00:06:35.000> invalid<00:06:35.639> blocks<00:06:36.639> um 00:06:36.790 --> 00:06:36.800 align:start position:0% nodes for producing invalid blocks um 00:06:36.800 --> 00:06:38.110 align:start position:0% nodes for producing invalid blocks um cuz<00:06:36.919> it<00:06:37.039> a<00:06:37.160> scaling<00:06:37.479> solution<00:06:37.800> where<00:06:37.960> not 00:06:38.110 --> 00:06:38.120 align:start position:0% cuz it a scaling solution where not 00:06:38.120 --> 00:06:40.270 align:start position:0% cuz it a scaling solution where not everyone<00:06:38.440> processes<00:06:38.960> every<00:06:39.160> block<00:06:40.120> there 00:06:40.270 --> 00:06:40.280 align:start position:0% everyone processes every block there 00:06:40.280 --> 00:06:43.150 align:start position:0% everyone processes every block there could<00:06:40.400> be<00:06:40.560> a<00:06:40.759> small<00:06:41.520> Shard<00:06:42.360> or<00:06:42.720> group<00:06:42.919> of 00:06:43.150 --> 00:06:43.160 align:start position:0% could be a small Shard or group of 00:06:43.160 --> 00:06:45.230 align:start position:0% could be a small Shard or group of validators<00:06:43.639> who<00:06:43.759> produces<00:06:44.080> an<00:06:44.199> invalid<00:06:44.560> block 00:06:45.230 --> 00:06:45.240 align:start position:0% validators who produces an invalid block 00:06:45.240 --> 00:06:47.710 align:start position:0% validators who produces an invalid block and<00:06:45.560> we<00:06:45.919> need<00:06:46.120> to<00:06:46.400> go 00:06:47.710 --> 00:06:47.720 align:start position:0% and we need to go 00:06:47.720 --> 00:06:51.230 align:start position:0% and we need to go and<00:06:48.720> reprimand<00:06:49.319> them<00:06:49.680> somehow<00:06:50.680> from 00:06:51.230 --> 00:06:51.240 align:start position:0% and reprimand them somehow from 00:06:51.240 --> 00:06:53.550 align:start position:0% and reprimand them somehow from producing<00:06:51.560> this<00:06:52.000> block<00:06:52.639> and<00:06:52.880> we<00:06:53.039> have<00:06:53.160> this<00:06:53.319> in 00:06:53.550 --> 00:06:53.560 align:start position:0% producing this block and we have this in 00:06:53.560 --> 00:06:55.070 align:start position:0% producing this block and we have this in Casper<00:06:53.960> and<00:06:54.080> it's<00:06:54.160> a<00:06:54.319> necessary<00:06:54.680> part<00:06:54.800> of<00:06:54.880> any 00:06:55.070 --> 00:06:55.080 align:start position:0% Casper and it's a necessary part of any 00:06:55.080 --> 00:06:58.350 align:start position:0% Casper and it's a necessary part of any scaling<00:06:55.440> solution<00:06:56.360> because<00:06:57.360> um<00:06:57.879> one<00:06:58.039> of<00:06:58.160> the 00:06:58.350 --> 00:06:58.360 align:start position:0% scaling solution because um one of the 00:06:58.360 --> 00:07:00.230 align:start position:0% scaling solution because um one of the key<00:06:58.599> problems<00:06:59.000> any<00:06:59.160> scaling<00:06:59.560> solution<00:06:59.960> is<00:07:00.160> how 00:07:00.230 --> 00:07:00.240 align:start position:0% key problems any scaling solution is how 00:07:00.240 --> 00:07:03.070 align:start position:0% key problems any scaling solution is how do<00:07:00.360> we<00:07:00.520> deal<00:07:00.800> with<00:07:01.160> invalid 00:07:03.070 --> 00:07:03.080 align:start position:0% do we deal with invalid 00:07:03.080 --> 00:07:05.029 align:start position:0% do we deal with invalid transitions<00:07:04.080> cool<00:07:04.319> another<00:07:04.720> kind<00:07:04.840> of 00:07:05.029 --> 00:07:05.039 align:start position:0% transitions cool another kind of 00:07:05.039 --> 00:07:07.110 align:start position:0% transitions cool another kind of important<00:07:05.800> thing<00:07:06.080> for<00:07:06.400> blockchain<00:07:06.759> scaling 00:07:07.110 --> 00:07:07.120 align:start position:0% important thing for blockchain scaling 00:07:07.120 --> 00:07:09.469 align:start position:0% important thing for blockchain scaling more<00:07:07.360> generally<00:07:07.720> is<00:07:07.840> that<00:07:08.400> um<00:07:09.039> it's<00:07:09.240> really 00:07:09.469 --> 00:07:09.479 align:start position:0% more generally is that um it's really 00:07:09.479 --> 00:07:10.990 align:start position:0% more generally is that um it's really important<00:07:09.879> that<00:07:10.000> our<00:07:10.160> scaling<00:07:10.520> solution<00:07:10.840> is 00:07:10.990 --> 00:07:11.000 align:start position:0% important that our scaling solution is 00:07:11.000 --> 00:07:13.909 align:start position:0% important that our scaling solution is kind<00:07:11.120> of<00:07:11.319> economically<00:07:12.120> efficient<00:07:13.120> uh<00:07:13.280> and 00:07:13.909 --> 00:07:13.919 align:start position:0% kind of economically efficient uh and 00:07:13.919 --> 00:07:17.350 align:start position:0% kind of economically efficient uh and that<00:07:14.919> it<00:07:15.360> it<00:07:15.440> shouldn't<00:07:15.800> be<00:07:16.000> that<00:07:16.160> we<00:07:16.479> require 00:07:17.350 --> 00:07:17.360 align:start position:0% that it it shouldn't be that we require 00:07:17.360 --> 00:07:18.869 align:start position:0% that it it shouldn't be that we require even<00:07:17.599> more<00:07:17.879> electricity<00:07:18.360> consumption<00:07:18.759> than 00:07:18.869 --> 00:07:18.879 align:start position:0% even more electricity consumption than 00:07:18.879 --> 00:07:21.029 align:start position:0% even more electricity consumption than Bitcoin<00:07:19.199> takes<00:07:19.440> today<00:07:19.720> to<00:07:20.120> scale<00:07:20.520> Bitcoin<00:07:20.879> up 00:07:21.029 --> 00:07:21.039 align:start position:0% Bitcoin takes today to scale Bitcoin up 00:07:21.039 --> 00:07:23.189 align:start position:0% Bitcoin takes today to scale Bitcoin up to<00:07:21.280> like<00:07:21.400> more<00:07:21.560> transactions<00:07:22.039> a<00:07:22.199> second<00:07:23.080> uh 00:07:23.189 --> 00:07:23.199 align:start position:0% to like more transactions a second uh 00:07:23.199 --> 00:07:25.230 align:start position:0% to like more transactions a second uh and<00:07:23.400> proof<00:07:23.639> State<00:07:23.879> kind<00:07:24.000> of<00:07:24.120> represents 00:07:25.230 --> 00:07:25.240 align:start position:0% and proof State kind of represents 00:07:25.240 --> 00:07:29.670 align:start position:0% and proof State kind of represents a<00:07:26.240> an<00:07:26.400> economic<00:07:26.879> Improvement<00:07:27.319> in<00:07:27.440> terms<00:07:27.680> of<00:07:28.520> um 00:07:29.670 --> 00:07:29.680 align:start position:0% a an economic Improvement in terms of um 00:07:29.680 --> 00:07:33.550 align:start position:0% a an economic Improvement in terms of um the<00:07:30.120> cost<00:07:31.120> of<00:07:31.680> processing 00:07:33.550 --> 00:07:33.560 align:start position:0% the cost of processing 00:07:33.560 --> 00:07:36.909 align:start position:0% the cost of processing transactions<00:07:34.639> cool<00:07:35.639> um<00:07:35.960> Dominic<00:07:36.599> you've<00:07:36.800> been 00:07:36.909 --> 00:07:36.919 align:start position:0% transactions cool um Dominic you've been 00:07:36.919 --> 00:07:39.390 align:start position:0% transactions cool um Dominic you've been working<00:07:37.160> on<00:07:37.520> Pebble<00:07:38.360> uh 00:07:39.390 --> 00:07:39.400 align:start position:0% working on Pebble uh 00:07:39.400 --> 00:07:42.070 align:start position:0% working on Pebble uh recently<00:07:40.400> well<00:07:40.639> yeah<00:07:41.039> pebble's<00:07:41.360> kind<00:07:41.440> of<00:07:41.560> Def 00:07:42.070 --> 00:07:42.080 align:start position:0% recently well yeah pebble's kind of Def 00:07:42.080 --> 00:07:44.110 align:start position:0% recently well yeah pebble's kind of Def definity<00:07:42.520> now<00:07:42.840> so 00:07:44.110 --> 00:07:44.120 align:start position:0% definity now so 00:07:44.120 --> 00:07:48.110 align:start position:0% definity now so um<00:07:45.120> yeah<00:07:45.680> um<00:07:46.080> definity<00:07:46.599> addresses<00:07:47.599> um<00:07:48.000> you 00:07:48.110 --> 00:07:48.120 align:start position:0% um yeah um definity addresses um you 00:07:48.120 --> 00:07:52.149 align:start position:0% um yeah um definity addresses um you know<00:07:49.039> the<00:07:49.240> scalability<00:07:49.840> challenge<00:07:50.800> and<00:07:51.520> um 00:07:52.149 --> 00:07:52.159 align:start position:0% know the scalability challenge and um 00:07:52.159 --> 00:07:54.070 align:start position:0% know the scalability challenge and um interesting<00:07:52.639> you<00:07:52.720> know<00:07:52.840> vad<00:07:53.159> just<00:07:53.360> mentioned 00:07:54.070 --> 00:07:54.080 align:start position:0% interesting you know vad just mentioned 00:07:54.080 --> 00:07:56.869 align:start position:0% interesting you know vad just mentioned U<00:07:54.400> you<00:07:54.520> know<00:07:54.759> how<00:07:55.080> he<00:07:55.280> started<00:07:55.759> with<00:07:56.560> lots<00:07:56.759> of 00:07:56.869 --> 00:07:56.879 align:start position:0% U you know how he started with lots of 00:07:56.879 --> 00:07:59.189 align:start position:0% U you know how he started with lots of separate<00:07:57.199> chains<00:07:57.840> and<00:07:58.400> uh<00:07:58.560> having<00:07:58.840> developers 00:07:59.189 --> 00:07:59.199 align:start position:0% separate chains and uh having developers 00:07:59.199 --> 00:08:01.110 align:start position:0% separate chains and uh having developers in<00:07:59.319> interact<00:07:59.599> with<00:07:59.720> lots<00:07:59.840> of<00:07:59.919> chains<00:08:00.360> that's 00:08:01.110 --> 00:08:01.120 align:start position:0% in interact with lots of chains that's 00:08:01.120 --> 00:08:04.029 align:start position:0% in interact with lots of chains that's kind<00:08:01.240> of<00:08:01.360> how<00:08:01.520> Pebble<00:08:01.840> started<00:08:02.159> out<00:08:03.159> um<00:08:03.680> we<00:08:03.840> had 00:08:04.029 --> 00:08:04.039 align:start position:0% kind of how Pebble started out um we had 00:08:04.039 --> 00:08:08.189 align:start position:0% kind of how Pebble started out um we had consensus<00:08:04.560> groups<00:08:05.360> and<00:08:05.960> um<00:08:06.840> when<00:08:07.840> you<00:08:07.919> know<00:08:08.080> a 00:08:08.189 --> 00:08:08.199 align:start position:0% consensus groups and um when you know a 00:08:08.199 --> 00:08:09.589 align:start position:0% consensus groups and um when you know a transaction<00:08:08.680> would<00:08:08.879> send<00:08:09.159> for<00:08:09.280> example 00:08:09.589 --> 00:08:09.599 align:start position:0% transaction would send for example 00:08:09.599 --> 00:08:11.909 align:start position:0% transaction would send for example currency<00:08:10.000> from<00:08:10.240> one<00:08:11.000> an<00:08:11.199> account<00:08:11.440> managed<00:08:11.800> by 00:08:11.909 --> 00:08:11.919 align:start position:0% currency from one an account managed by 00:08:11.919 --> 00:08:13.670 align:start position:0% currency from one an account managed by one<00:08:12.120> consensus<00:08:12.560> group<00:08:12.759> to<00:08:12.919> another<00:08:13.159> consensus 00:08:13.670 --> 00:08:13.680 align:start position:0% one consensus group to another consensus 00:08:13.680 --> 00:08:16.350 align:start position:0% one consensus group to another consensus group<00:08:14.680> um<00:08:14.960> it<00:08:15.080> happened<00:08:15.479> L<00:08:15.720> was<00:08:15.879> propagated 00:08:16.350 --> 00:08:16.360 align:start position:0% group um it happened L was propagated 00:08:16.360 --> 00:08:19.230 align:start position:0% group um it happened L was propagated lazily<00:08:16.879> and<00:08:17.080> and<00:08:17.400> the<00:08:18.000> recipient<00:08:18.919> the 00:08:19.230 --> 00:08:19.240 align:start position:0% lazily and and the recipient the 00:08:19.240 --> 00:08:20.670 align:start position:0% lazily and and the recipient the receiving<00:08:19.520> consensus<00:08:20.000> group<00:08:20.199> would<00:08:20.360> try<00:08:20.520> and 00:08:20.670 --> 00:08:20.680 align:start position:0% receiving consensus group would try and 00:08:20.680 --> 00:08:25.390 align:start position:0% receiving consensus group would try and validate<00:08:21.360> the<00:08:22.080> other<00:08:22.360> consensus<00:08:22.919> group<00:08:24.280> and<00:08:25.280> I 00:08:25.390 --> 00:08:25.400 align:start position:0% validate the other consensus group and I 00:08:25.400 --> 00:08:28.070 align:start position:0% validate the other consensus group and I think<00:08:25.960> um<00:08:26.520> it's<00:08:26.639> a<00:08:26.759> sort<00:08:26.960> of<00:08:27.599> necessary 00:08:28.070 --> 00:08:28.080 align:start position:0% think um it's a sort of necessary 00:08:28.080 --> 00:08:30.230 align:start position:0% think um it's a sort of necessary process<00:08:28.400> to<00:08:28.520> go<00:08:28.720> to<00:08:29.000> but 00:08:30.230 --> 00:08:30.240 align:start position:0% process to go to but 00:08:30.240 --> 00:08:31.710 align:start position:0% process to go to but you<00:08:30.360> start<00:08:30.639> off<00:08:31.000> trying<00:08:31.240> to<00:08:31.360> address<00:08:31.599> the 00:08:31.710 --> 00:08:31.720 align:start position:0% you start off trying to address the 00:08:31.720 --> 00:08:33.469 align:start position:0% you start off trying to address the problem<00:08:31.919> like<00:08:32.080> that<00:08:32.200> and<00:08:32.279> you<00:08:32.399> realize<00:08:32.959> that 00:08:33.469 --> 00:08:33.479 align:start position:0% problem like that and you realize that 00:08:33.479 --> 00:08:35.230 align:start position:0% problem like that and you realize that the<00:08:33.599> whole<00:08:33.760> system<00:08:34.080> becomes<00:08:34.440> very<00:08:35.120> difficult 00:08:35.230 --> 00:08:35.240 align:start position:0% the whole system becomes very difficult 00:08:35.240 --> 00:08:39.430 align:start position:0% the whole system becomes very difficult to<00:08:35.360> reason<00:08:35.719> about<00:08:36.560> because<00:08:37.399> um<00:08:38.200> you 00:08:39.430 --> 00:08:39.440 align:start position:0% to reason about because um you 00:08:39.440 --> 00:08:42.389 align:start position:0% to reason about because um you know<00:08:40.440> unfortunately<00:08:41.039> if<00:08:41.240> if<00:08:41.360> one<00:08:41.519> of<00:08:41.719> these 00:08:42.389 --> 00:08:42.399 align:start position:0% know unfortunately if if one of these 00:08:42.399 --> 00:08:44.470 align:start position:0% know unfortunately if if one of these chains<00:08:42.880> or<00:08:43.039> one<00:08:43.159> of<00:08:43.320> these<00:08:43.479> consensus<00:08:43.959> groups 00:08:44.470 --> 00:08:44.480 align:start position:0% chains or one of these consensus groups 00:08:44.480 --> 00:08:47.550 align:start position:0% chains or one of these consensus groups becomes<00:08:45.760> corrupted<00:08:46.760> potentially<00:08:47.200> it<00:08:47.279> can 00:08:47.550 --> 00:08:47.560 align:start position:0% becomes corrupted potentially it can 00:08:47.560 --> 00:08:50.949 align:start position:0% becomes corrupted potentially it can export<00:08:48.440> bad<00:08:49.040> State<00:08:49.399> transition<00:08:50.160> bad<00:08:50.399> currency 00:08:50.949 --> 00:08:50.959 align:start position:0% export bad State transition bad currency 00:08:50.959 --> 00:08:52.829 align:start position:0% export bad State transition bad currency bad<00:08:51.160> data<00:08:51.480> or<00:08:51.600> whatever<00:08:51.839> it<00:08:51.959> is<00:08:52.120> to<00:08:52.320> the<00:08:52.560> to<00:08:52.720> the 00:08:52.829 --> 00:08:52.839 align:start position:0% bad data or whatever it is to the to the 00:08:52.839 --> 00:08:54.310 align:start position:0% bad data or whatever it is to the to the other 00:08:54.310 --> 00:08:54.320 align:start position:0% other 00:08:54.320 --> 00:08:58.790 align:start position:0% other groups<00:08:55.320> um<00:08:56.279> and<00:08:56.560> so<00:08:57.279> you<00:08:57.519> realize<00:08:57.920> that<00:08:58.200> that 00:08:58.790 --> 00:08:58.800 align:start position:0% groups um and so you realize that that 00:08:58.800 --> 00:09:00.790 align:start position:0% groups um and so you realize that that slightly<00:08:59.320> naive<00:08:59.680> approach<00:09:00.000> to<00:09:00.399> scaling 00:09:00.790 --> 00:09:00.800 align:start position:0% slightly naive approach to scaling 00:09:00.800 --> 00:09:01.949 align:start position:0% slightly naive approach to scaling doesn't<00:09:01.079> work<00:09:01.320> and<00:09:01.440> that<00:09:01.519> was<00:09:01.640> one<00:09:01.760> of<00:09:01.839> the 00:09:01.949 --> 00:09:01.959 align:start position:0% doesn't work and that was one of the 00:09:01.959 --> 00:09:04.269 align:start position:0% doesn't work and that was one of the reasons<00:09:02.279> that<00:09:02.480> Pebble<00:09:02.920> was<00:09:03.360> was<00:09:04.000> never 00:09:04.269 --> 00:09:04.279 align:start position:0% reasons that Pebble was was never 00:09:04.279 --> 00:09:06.590 align:start position:0% reasons that Pebble was was never released<00:09:04.839> because<00:09:05.560> I<00:09:05.640> wasn't<00:09:05.920> satisfied<00:09:06.399> with 00:09:06.590 --> 00:09:06.600 align:start position:0% released because I wasn't satisfied with 00:09:06.600 --> 00:09:10.269 align:start position:0% released because I wasn't satisfied with that<00:09:07.519> so<00:09:08.560> um<00:09:09.560> you<00:09:09.680> know<00:09:09.839> that's<00:09:10.000> one<00:09:10.120> of<00:09:10.200> the 00:09:10.269 --> 00:09:10.279 align:start position:0% that so um you know that's one of the 00:09:10.279 --> 00:09:11.750 align:start position:0% that so um you know that's one of the fundamental<00:09:10.760> challenges<00:09:11.160> and<00:09:11.320> the<00:09:11.440> approach 00:09:11.750 --> 00:09:11.760 align:start position:0% fundamental challenges and the approach 00:09:11.760 --> 00:09:14.310 align:start position:0% fundamental challenges and the approach that<00:09:11.880> we<00:09:12.040> take<00:09:12.320> is<00:09:12.560> to<00:09:13.399> um<00:09:13.560> I<00:09:13.640> was<00:09:13.760> glad<00:09:13.959> to<00:09:14.079> hear 00:09:14.310 --> 00:09:14.320 align:start position:0% that we take is to um I was glad to hear 00:09:14.320 --> 00:09:16.389 align:start position:0% that we take is to um I was glad to hear compositionality<00:09:15.240> mentioned<00:09:15.839> earlier<00:09:16.279> in 00:09:16.389 --> 00:09:16.399 align:start position:0% compositionality mentioned earlier in 00:09:16.399 --> 00:09:19.590 align:start position:0% compositionality mentioned earlier in the<00:09:16.560> previous<00:09:17.040> talk<00:09:18.040> um<00:09:18.720> to<00:09:19.079> first<00:09:19.279> of<00:09:19.399> all 00:09:19.590 --> 00:09:19.600 align:start position:0% the previous talk um to first of all 00:09:19.600 --> 00:09:22.910 align:start position:0% the previous talk um to first of all separate<00:09:20.079> the<00:09:20.279> different<00:09:20.920> kinds<00:09:21.360> of<00:09:22.240> um 00:09:22.910 --> 00:09:22.920 align:start position:0% separate the different kinds of um 00:09:22.920 --> 00:09:25.069 align:start position:0% separate the different kinds of um processing<00:09:23.519> that<00:09:23.640> needs<00:09:23.800> to<00:09:23.920> be<00:09:24.120> done<00:09:24.640> in<00:09:24.839> in 00:09:25.069 --> 00:09:25.079 align:start position:0% processing that needs to be done in in 00:09:25.079 --> 00:09:28.430 align:start position:0% processing that needs to be done in in in<00:09:25.160> a<00:09:25.360> kind<00:09:25.480> of<00:09:26.279> distributed<00:09:26.880> crypto<00:09:27.440> Ledger 00:09:28.430 --> 00:09:28.440 align:start position:0% in a kind of distributed crypto Ledger 00:09:28.440 --> 00:09:31.269 align:start position:0% in a kind of distributed crypto Ledger and<00:09:28.600> so<00:09:29.320> when<00:09:29.440> we<00:09:29.560> look<00:09:29.680> at<00:09:29.800> a<00:09:30.600> crypto<00:09:30.959> Ledger 00:09:31.269 --> 00:09:31.279 align:start position:0% and so when we look at a crypto Ledger 00:09:31.279 --> 00:09:32.790 align:start position:0% and so when we look at a crypto Ledger we<00:09:31.399> see<00:09:31.640> three<00:09:31.839> different<00:09:32.120> requirements<00:09:32.680> we 00:09:32.790 --> 00:09:32.800 align:start position:0% we see three different requirements we 00:09:32.800 --> 00:09:35.150 align:start position:0% we see three different requirements we see<00:09:33.640> global<00:09:34.040> consensus<00:09:34.600> you<00:09:34.680> know<00:09:34.839> Global 00:09:35.150 --> 00:09:35.160 align:start position:0% see global consensus you know Global 00:09:35.160 --> 00:09:38.310 align:start position:0% see global consensus you know Global agreement<00:09:35.560> on<00:09:35.959> what<00:09:36.120> the<00:09:36.320> State<00:09:36.839> of<00:09:37.839> the<00:09:37.959> State 00:09:38.310 --> 00:09:38.320 align:start position:0% agreement on what the State of the State 00:09:38.320 --> 00:09:41.430 align:start position:0% agreement on what the State of the State exactly<00:09:38.839> is<00:09:39.839> we<00:09:40.040> see 00:09:41.430 --> 00:09:41.440 align:start position:0% exactly is we see 00:09:41.440 --> 00:09:45.110 align:start position:0% exactly is we see validation<00:09:42.440> um<00:09:42.720> which<00:09:42.880> is<00:09:43.040> the<00:09:43.200> validation<00:09:43.680> of 00:09:45.110 --> 00:09:45.120 align:start position:0% validation um which is the validation of 00:09:45.120 --> 00:09:47.150 align:start position:0% validation um which is the validation of transitions<00:09:46.120> which<00:09:46.279> is<00:09:46.440> distinct<00:09:46.880> by<00:09:46.959> the<00:09:47.040> way 00:09:47.150 --> 00:09:47.160 align:start position:0% transitions which is distinct by the way 00:09:47.160 --> 00:09:48.910 align:start position:0% transitions which is distinct by the way to<00:09:47.360> consensus<00:09:47.920> right<00:09:48.120> because<00:09:48.320> you<00:09:48.399> can<00:09:48.600> agree 00:09:48.910 --> 00:09:48.920 align:start position:0% to consensus right because you can agree 00:09:48.920 --> 00:09:50.870 align:start position:0% to consensus right because you can agree on<00:09:49.120> invalid<00:09:49.720> state<00:09:50.320> right<00:09:50.440> you<00:09:50.560> can<00:09:50.720> have 00:09:50.870 --> 00:09:50.880 align:start position:0% on invalid state right you can have 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position:0% um updated in an invalid way right so you<00:09:59.079> you<00:09:59.160> have<00:09:59.240> a<00:09:59.360> validation<00:10:00.040> layer<00:10:01.040> and<00:10:01.279> then 00:10:01.630 --> 00:10:01.640 align:start position:0% you you have a validation layer and then 00:10:01.640 --> 00:10:03.389 align:start position:0% you you have a validation layer and then finally<00:10:01.959> you<00:10:02.120> have<00:10:02.240> a<00:10:02.360> storage<00:10:02.720> layer<00:10:03.120> which 00:10:03.389 --> 00:10:03.399 align:start position:0% finally you have a storage layer which 00:10:03.399 --> 00:10:08.630 align:start position:0% finally you have a storage layer which stores<00:10:03.839> the<00:10:04.160> state<00:10:05.160> so<00:10:06.040> the<00:10:06.279> storage<00:10:06.680> layer<00:10:07.640> um 00:10:08.630 --> 00:10:08.640 align:start position:0% stores the state so the storage layer um 00:10:08.640 --> 00:10:11.630 align:start position:0% stores the state so the storage layer um will<00:10:08.959> obviously<00:10:09.519> need<00:10:09.720> to<00:10:09.839> be<00:10:10.279> sharded<00:10:11.279> in<00:10:11.440> the 00:10:11.630 --> 00:10:11.640 align:start position:0% will obviously need to be sharded in the 00:10:11.640 --> 00:10:13.470 align:start position:0% will obviously need to be sharded in the same<00:10:11.839> way<00:10:12.000> that<00:10:12.079> you'd<00:10:12.240> Shard<00:10:12.560> a<00:10:12.720> large 00:10:13.470 --> 00:10:13.480 align:start position:0% same way that you'd Shard a large 00:10:13.480 --> 00:10:16.829 align:start position:0% same way that you'd Shard a large website<00:10:14.000> for<00:10:14.560> example<00:10:15.560> um<00:10:15.880> and 00:10:16.829 --> 00:10:16.839 align:start position:0% website for example um and 00:10:16.839 --> 00:10:19.230 align:start position:0% website for example um and that's<00:10:17.839> more<00:10:18.000> of<00:10:18.120> a<00:10:18.320> static<00:10:18.760> thing<00:10:19.040> because 00:10:19.230 --> 00:10:19.240 align:start position:0% that's more of a static thing because 00:10:19.240 --> 00:10:20.710 align:start position:0% that's more of a static thing because you<00:10:19.360> can't<00:10:19.519> move<00:10:19.760> large<00:10:19.959> amounts<00:10:20.200> of<00:10:20.320> storage 00:10:20.710 --> 00:10:20.720 align:start position:0% you can't move large amounts of storage 00:10:20.720 --> 00:10:23.150 align:start position:0% you can't move large amounts of storage around<00:10:21.640> so<00:10:21.920> the<00:10:22.160> problem<00:10:22.440> becomes<00:10:22.920> you<00:10:23.079> know 00:10:23.150 --> 00:10:23.160 align:start position:0% around so the problem becomes you know 00:10:23.160 --> 00:10:24.470 align:start position:0% around so the problem becomes you know if<00:10:23.240> your<00:10:23.399> bottom<00:10:23.600> layer<00:10:23.839> is<00:10:23.920> sharded<00:10:24.360> your 00:10:24.470 --> 00:10:24.480 align:start position:0% if your bottom layer is sharded your 00:10:24.480 --> 00:10:27.710 align:start position:0% if your bottom layer is sharded your storage<00:10:24.760> layer<00:10:25.000> is<00:10:25.040> sharded<00:10:25.519> how<00:10:25.640> do<00:10:25.880> you<00:10:26.880> um 00:10:27.710 --> 00:10:27.720 align:start position:0% storage layer is sharded how do you um 00:10:27.720 --> 00:10:29.269 align:start position:0% storage layer is sharded how do you um stop<00:10:28.079> one<00:10:28.160> of<00:10:28.279> these<00:10:28.399> shards<00:10:28.800> become 00:10:29.269 --> 00:10:29.279 align:start position:0% stop one of these shards become 00:10:29.279 --> 00:10:31.150 align:start position:0% stop one of these shards become corrupted<00:10:29.720> in<00:10:29.880> some<00:10:30.079> way<00:10:30.240> and<00:10:30.320> then<00:10:30.560> exporting 00:10:31.150 --> 00:10:31.160 align:start position:0% corrupted in some way and then exporting 00:10:31.160 --> 00:10:33.389 align:start position:0% corrupted in some way and then exporting bad<00:10:31.399> data<00:10:31.680> to<00:10:31.800> the<00:10:31.920> other<00:10:32.079> shards<00:10:33.079> so<00:10:33.240> you 00:10:33.389 --> 00:10:33.399 align:start position:0% bad data to the other shards so you 00:10:33.399 --> 00:10:35.069 align:start position:0% bad data to the other shards so you actually<00:10:33.680> have<00:10:33.800> to<00:10:34.040> have<00:10:34.360> a<00:10:34.600> global 00:10:35.069 --> 00:10:35.079 align:start position:0% actually have to have a global 00:10:35.079 --> 00:10:37.509 align:start position:0% actually have to have a global validation<00:10:35.639> there<00:10:36.079> above<00:10:36.320> the 00:10:37.509 --> 00:10:37.519 align:start position:0% validation there above the 00:10:37.519 --> 00:10:41.110 align:start position:0% validation there above the storage<00:10:38.519> and<00:10:39.040> scaling<00:10:39.639> that<00:10:40.639> validation 00:10:41.110 --> 00:10:41.120 align:start position:0% storage and scaling that validation 00:10:41.120 --> 00:10:41.949 align:start position:0% storage and scaling that validation there 00:10:41.949 --> 00:10:41.959 align:start position:0% there 00:10:41.959 --> 00:10:44.069 align:start position:0% there is<00:10:42.959> one<00:10:43.040> of<00:10:43.160> the<00:10:43.279> key<00:10:43.440> challenges<00:10:43.880> but<00:10:44.000> there 00:10:44.069 --> 00:10:44.079 align:start position:0% is one of the key challenges but there 00:10:44.079 --> 00:10:45.590 align:start position:0% is one of the key challenges but there are<00:10:44.200> ways<00:10:44.360> of<00:10:44.480> doing<00:10:44.680> it<00:10:44.839> and<00:10:45.000> then<00:10:45.240> once<00:10:45.399> you 00:10:45.590 --> 00:10:45.600 align:start position:0% are ways of doing it and then once you 00:10:45.600 --> 00:10:47.750 align:start position:0% are ways of doing it and then once you validated<00:10:46.120> data<00:10:46.560> you<00:10:46.680> can<00:10:47.120> reach<00:10:47.399> agreement 00:10:47.750 --> 00:10:47.760 align:start position:0% validated data you can reach agreement 00:10:47.760 --> 00:10:50.470 align:start position:0% validated data you can reach agreement on<00:10:47.880> it<00:10:48.040> in<00:10:48.240> in<00:10:48.360> the<00:10:48.600> consensus 00:10:50.470 --> 00:10:50.480 align:start position:0% on it in in the consensus 00:10:50.480 --> 00:10:54.990 align:start position:0% on it in in the consensus L<00:10:51.480> definitely<00:10:51.839> f<00:10:52.160> a<00:10:52.360> thought<00:10:52.880> later<00:10:53.800> um<00:10:54.600> Martin 00:10:54.990 --> 00:10:55.000 align:start position:0% L definitely f a thought later um Martin 00:10:55.000 --> 00:10:57.790 align:start position:0% L definitely f a thought later um Martin you've<00:10:55.160> been<00:10:55.279> working<00:10:55.839> on<00:10:56.839> the<00:10:57.200> uh<00:10:57.320> ethereum 00:10:57.790 --> 00:10:57.800 align:start position:0% you've been working on the uh ethereum 00:10:57.800 --> 00:10:59.910 align:start position:0% you've been working on the uh ethereum JavaScript<00:10:58.360> client<00:10:59.120> uh<00:10:59.240> mostly<00:10:59.639> would<00:10:59.760> you 00:10:59.910 --> 00:10:59.920 align:start position:0% JavaScript client uh mostly would you 00:10:59.920 --> 00:11:02.430 align:start position:0% JavaScript client uh mostly would you like<00:11:00.040> to<00:11:00.360> give<00:11:00.600> some<00:11:00.760> thoughts<00:11:01.040> about<00:11:01.639> um<00:11:02.200> how 00:11:02.430 --> 00:11:02.440 align:start position:0% like to give some thoughts about um how 00:11:02.440 --> 00:11:06.550 align:start position:0% like to give some thoughts about um how that<00:11:02.680> might<00:11:02.880> be<00:11:03.200> made<00:11:03.440> into<00:11:04.040> some<00:11:05.040> scalable<00:11:05.959> uh 00:11:06.550 --> 00:11:06.560 align:start position:0% that might be made into some scalable uh 00:11:06.560 --> 00:11:09.110 align:start position:0% that might be made into some scalable uh uh<00:11:06.880> system<00:11:07.880> yeah<00:11:08.160> um<00:11:08.360> I'm<00:11:08.560> I'm<00:11:08.639> not<00:11:08.800> really 00:11:09.110 --> 00:11:09.120 align:start position:0% uh system yeah um I'm I'm not really 00:11:09.120 --> 00:11:11.190 align:start position:0% uh system yeah um I'm I'm not really sure<00:11:09.320> if<00:11:09.560> the<00:11:09.880> the<00:11:10.160> JavaScript<00:11:10.880> client 00:11:11.190 --> 00:11:11.200 align:start position:0% sure if the the JavaScript client 00:11:11.200 --> 00:11:14.150 align:start position:0% sure if the the JavaScript client directly<00:11:11.760> has<00:11:11.959> much<00:11:12.240> to<00:11:12.600> add<00:11:12.839> to<00:11:13.160> scalability 00:11:14.150 --> 00:11:14.160 align:start position:0% directly has much to add to scalability 00:11:14.160 --> 00:11:17.030 align:start position:0% directly has much to add to scalability but<00:11:14.480> um<00:11:15.440> I<00:11:15.639> I<00:11:15.720> do<00:11:15.839> want<00:11:15.920> to<00:11:16.040> say<00:11:16.279> like<00:11:16.600> uh<00:11:16.880> to 00:11:17.030 --> 00:11:17.040 align:start position:0% but um I I do want to say like uh to 00:11:17.040 --> 00:11:18.550 align:start position:0% but um I I do want to say like uh to give<00:11:17.240> some<00:11:17.480> intuition<00:11:18.040> about<00:11:18.240> what<00:11:18.360> we're 00:11:18.550 --> 00:11:18.560 align:start position:0% give some intuition about what we're 00:11:18.560 --> 00:11:22.269 align:start position:0% give some intuition about what we're doing<00:11:19.120> with<00:11:19.360> scalability<00:11:20.040> or<00:11:20.200> want<00:11:20.360> to<00:11:20.600> do<00:11:21.600> um 00:11:22.269 --> 00:11:22.279 align:start position:0% doing with scalability or want to do um 00:11:22.279 --> 00:11:26.069 align:start position:0% doing with scalability or want to do um is<00:11:22.680> that<00:11:23.680> right<00:11:23.880> now<00:11:24.600> uh<00:11:24.720> we<00:11:24.880> have<00:11:25.200> a<00:11:25.399> universe 00:11:26.069 --> 00:11:26.079 align:start position:0% is that right now uh we have a universe 00:11:26.079 --> 00:11:29.269 align:start position:0% is that right now uh we have a universe and<00:11:26.480> every<00:11:26.720> actor<00:11:27.000> in<00:11:27.079> the<00:11:27.279> universe<00:11:28.279> uh<00:11:29.120> uh 00:11:29.269 --> 00:11:29.279 align:start position:0% and every actor in the universe uh uh 00:11:29.279 --> 00:11:31.190 align:start position:0% and every actor in the universe uh uh every<00:11:29.519> interaction<00:11:29.959> in<00:11:30.120> this<00:11:30.279> universe<00:11:30.920> takes 00:11:31.190 --> 00:11:31.200 align:start position:0% every interaction in this universe takes 00:11:31.200 --> 00:11:32.550 align:start position:0% every interaction in this universe takes the<00:11:31.360> same<00:11:31.560> amount<00:11:31.760> of 00:11:32.550 --> 00:11:32.560 align:start position:0% the same amount of 00:11:32.560 --> 00:11:35.829 align:start position:0% the same amount of time<00:11:33.560> um<00:11:33.959> and<00:11:34.200> is<00:11:34.680> so<00:11:34.920> you<00:11:35.000> can<00:11:35.120> think<00:11:35.279> of<00:11:35.399> it 00:11:35.829 --> 00:11:35.839 align:start position:0% time um and is so you can think of it 00:11:35.839 --> 00:11:38.350 align:start position:0% time um and is so you can think of it everybody<00:11:36.279> is<00:11:36.440> the<00:11:36.560> same<00:11:36.760> distance<00:11:37.279> away<00:11:38.279> uh 00:11:38.350 --> 00:11:38.360 align:start position:0% everybody is the same distance away uh 00:11:38.360 --> 00:11:40.389 align:start position:0% everybody is the same distance away uh and<00:11:38.519> this<00:11:38.639> works<00:11:38.959> fine<00:11:39.160> when<00:11:39.320> we<00:11:39.440> have<00:11:39.639> like<00:11:40.240> a 00:11:40.389 --> 00:11:40.399 align:start position:0% and this works fine when we have like a 00:11:40.399 --> 00:11:43.550 align:start position:0% and this works fine when we have like a little<00:11:41.040> universe<00:11:42.040> but<00:11:42.560> um<00:11:43.079> if<00:11:43.200> we<00:11:43.320> want<00:11:43.440> to 00:11:43.550 --> 00:11:43.560 align:start position:0% little universe but um if we want to 00:11:43.560 --> 00:11:45.629 align:start position:0% little universe but um if we want to have<00:11:43.639> a<00:11:43.760> really<00:11:43.959> big<00:11:44.160> universe<00:11:45.040> we<00:11:45.160> need<00:11:45.320> to 00:11:45.629 --> 00:11:45.639 align:start position:0% have a really big universe we need to 00:11:45.639 --> 00:11:49.910 align:start position:0% have a really big universe we need to Overlay<00:11:46.440> some<00:11:46.720> sort<00:11:46.959> of<00:11:47.639> um<00:11:48.720> spatial<00:11:49.720> doesn't 00:11:49.910 --> 00:11:49.920 align:start position:0% Overlay some sort of um spatial doesn't 00:11:49.920 --> 00:11:52.670 align:start position:0% Overlay some sort of um spatial doesn't have<00:11:50.040> to<00:11:50.120> be<00:11:50.240> real<00:11:50.480> space<00:11:50.920> but<00:11:51.399> we<00:11:51.519> have<00:11:51.680> to<00:11:52.480> uh 00:11:52.670 --> 00:11:52.680 align:start position:0% have to be real space but we have to uh 00:11:52.680 --> 00:11:55.590 align:start position:0% have to be real space but we have to uh have<00:11:53.320> we<00:11:53.480> have<00:11:53.600> to<00:11:54.360> add<00:11:54.720> distances<00:11:55.320> if<00:11:55.440> you 00:11:55.590 --> 00:11:55.600 align:start position:0% have we have to add distances if you 00:11:55.600 --> 00:11:59.190 align:start position:0% have we have to add distances if you will<00:11:56.440> um<00:11:57.079> it's<00:11:57.519> sort<00:11:57.720> of<00:11:57.920> a<00:11:58.480> higher<00:11:58.720> level<00:11:59.079> way 00:11:59.190 --> 00:11:59.200 align:start position:0% will um it's sort of a higher level way 00:11:59.200 --> 00:12:02.910 align:start position:0% will um it's sort of a higher level way of<00:11:59.560> just<00:12:00.240> thinking<00:12:00.639> about<00:12:01.200> um<00:12:01.920> what<00:12:02.639> what<00:12:02.760> we 00:12:02.910 --> 00:12:02.920 align:start position:0% of just thinking about um what what we 00:12:02.920 --> 00:12:05.069 align:start position:0% of just thinking about um what what we want<00:12:03.120> to<00:12:03.240> do<00:12:03.440> with<00:12:03.680> scalability<00:12:04.680> so<00:12:04.839> what<00:12:04.920> does 00:12:05.069 --> 00:12:05.079 align:start position:0% want to do with scalability so what does 00:12:05.079 --> 00:12:07.590 align:start position:0% want to do with scalability so what does that<00:12:05.240> mean<00:12:05.800> like<00:12:06.360> right<00:12:06.560> now<00:12:07.079> when<00:12:07.320> one 00:12:07.590 --> 00:12:07.600 align:start position:0% that mean like right now when one 00:12:07.600 --> 00:12:10.389 align:start position:0% that mean like right now when one contract<00:12:08.079> calls<00:12:08.399> another<00:12:08.760> contract<00:12:09.720> um<00:12:10.160> it's 00:12:10.389 --> 00:12:10.399 align:start position:0% contract calls another contract um it's 00:12:10.399 --> 00:12:13.470 align:start position:0% contract calls another contract um it's always<00:12:10.880> a<00:12:11.079> synchronous<00:12:12.120> operation<00:12:13.120> right<00:12:13.360> and 00:12:13.470 --> 00:12:13.480 align:start position:0% always a synchronous operation right and 00:12:13.480 --> 00:12:15.430 align:start position:0% always a synchronous operation right and if<00:12:13.639> we<00:12:13.839> have<00:12:14.279> you<00:12:14.399> know<00:12:14.560> different<00:12:14.959> times 00:12:15.430 --> 00:12:15.440 align:start position:0% if we have you know different times 00:12:15.440 --> 00:12:17.189 align:start position:0% if we have you know different times maybe<00:12:15.800> that 00:12:17.189 --> 00:12:17.199 align:start position:0% maybe that 00:12:17.199 --> 00:12:20.110 align:start position:0% maybe that um<00:12:18.199> contracts<00:12:18.680> could<00:12:18.920> take<00:12:19.279> because<00:12:19.600> like<00:12:19.800> if 00:12:20.110 --> 00:12:20.120 align:start position:0% um contracts could take because like if 00:12:20.120 --> 00:12:21.670 align:start position:0% um contracts could take because like if one<00:12:20.399> contract<00:12:20.880> calls<00:12:21.240> something<00:12:21.480> from 00:12:21.670 --> 00:12:21.680 align:start position:0% one contract calls something from 00:12:21.680 --> 00:12:25.110 align:start position:0% one contract calls something from further<00:12:22.040> away<00:12:22.600> it<00:12:22.720> should<00:12:23.000> take<00:12:23.240> longer<00:12:24.079> so<00:12:24.839> um 00:12:25.110 --> 00:12:25.120 align:start position:0% further away it should take longer so um 00:12:25.120 --> 00:12:26.550 align:start position:0% further away it should take longer so um thinking<00:12:25.399> about<00:12:25.600> it<00:12:25.720> from<00:12:25.880> this<00:12:26.040> way<00:12:26.279> sort<00:12:26.399> of 00:12:26.550 --> 00:12:26.560 align:start position:0% thinking about it from this way sort of 00:12:26.560 --> 00:12:28.990 align:start position:0% thinking about it from this way sort of interesting<00:12:27.160> it<00:12:27.279> means<00:12:28.160> you<00:12:28.320> know<00:12:28.720> the 00:12:28.990 --> 00:12:29.000 align:start position:0% interesting it means you know the 00:12:29.000 --> 00:12:30.030 align:start position:0% interesting it means you know the necessarily<00:12:29.519> there<00:12:29.639> will<00:12:29.760> be<00:12:29.880> an 00:12:30.030 --> 00:12:30.040 align:start position:0% necessarily there will be an 00:12:30.040 --> 00:12:31.910 align:start position:0% necessarily there will be an asynchronous<00:12:30.800> environment<00:12:31.519> in<00:12:31.680> which 00:12:31.910 --> 00:12:31.920 align:start position:0% asynchronous environment in which 00:12:31.920 --> 00:12:33.870 align:start position:0% asynchronous environment in which contracts<00:12:32.399> might<00:12:32.600> call<00:12:33.320> and<00:12:33.399> of<00:12:33.519> course<00:12:33.720> these 00:12:33.870 --> 00:12:33.880 align:start position:0% contracts might call and of course these 00:12:33.880 --> 00:12:36.710 align:start position:0% contracts might call and of course these aren't<00:12:34.120> fully<00:12:34.360> flush<00:12:34.720> out<00:12:35.000> ideas<00:12:35.560> but<00:12:36.360> um<00:12:36.519> sort 00:12:36.710 --> 00:12:36.720 align:start position:0% aren't fully flush out ideas but um sort 00:12:36.720 --> 00:12:38.430 align:start position:0% aren't fully flush out ideas but um sort of<00:12:36.880> thinking<00:12:37.120> about<00:12:37.320> the<00:12:37.519> properties<00:12:38.240> that 00:12:38.430 --> 00:12:38.440 align:start position:0% of thinking about the properties that 00:12:38.440 --> 00:12:41.430 align:start position:0% of thinking about the properties that scalability<00:12:39.199> we<00:12:39.480> have<00:12:40.399> um<00:12:40.839> and<00:12:41.000> then<00:12:41.160> mapping 00:12:41.430 --> 00:12:41.440 align:start position:0% scalability we have um and then mapping 00:12:41.440 --> 00:12:42.670 align:start position:0% scalability we have um and then mapping it<00:12:41.560> onto<00:12:41.839> our<00:12:42.000> current<00:12:42.240> system<00:12:42.519> is 00:12:42.670 --> 00:12:42.680 align:start position:0% it onto our current system is 00:12:42.680 --> 00:12:45.150 align:start position:0% it onto our current system is interesting<00:12:43.120> I<00:12:43.279> think 00:12:45.150 --> 00:12:45.160 align:start position:0% interesting I think 00:12:45.160 --> 00:12:48.430 align:start position:0% interesting I think um<00:12:46.160> one<00:12:46.360> other<00:12:47.160> uh<00:12:47.560> one<00:12:47.760> other<00:12:48.000> thing<00:12:48.199> like 00:12:48.430 --> 00:12:48.440 align:start position:0% um one other uh one other thing like 00:12:48.440 --> 00:12:50.990 align:start position:0% um one other uh one other thing like Dominic<00:12:48.880> said<00:12:49.160> like<00:12:49.519> separating<00:12:50.519> different 00:12:50.990 --> 00:12:51.000 align:start position:0% Dominic said like separating different 00:12:51.000 --> 00:12:55.590 align:start position:0% Dominic said like separating different layers<00:12:52.000> uh<00:12:52.639> having<00:12:53.639> um<00:12:53.880> one<00:12:54.079> layer<00:12:54.480> that<00:12:54.639> does 00:12:55.590 --> 00:12:55.600 align:start position:0% layers uh having um one layer that does 00:12:55.600 --> 00:12:58.189 align:start position:0% layers uh having um one layer that does uh<00:12:55.720> State<00:12:56.320> Transitions<00:12:57.320> and<00:12:57.480> then<00:12:57.760> another 00:12:58.189 --> 00:12:58.199 align:start position:0% uh State Transitions and then another 00:12:58.199 --> 00:13:01.110 align:start position:0% uh State Transitions and then another global<00:12:59.000> uh<00:12:59.199> a<00:12:59.440> global<00:12:59.760> layer<00:13:00.160> that<00:13:00.680> comes<00:13:00.920> to 00:13:01.110 --> 00:13:01.120 align:start position:0% global uh a global layer that comes to 00:13:01.120 --> 00:13:03.069 align:start position:0% global uh a global layer that comes to consensus<00:13:01.680> on<00:13:01.880> what<00:13:02.040> all<00:13:02.199> the<00:13:02.600> state 00:13:03.069 --> 00:13:03.079 align:start position:0% consensus on what all the state 00:13:03.079 --> 00:13:05.310 align:start position:0% consensus on what all the state transitions<00:13:03.760> is<00:13:04.000> seems<00:13:04.320> like<00:13:04.760> like<00:13:05.079> pretty 00:13:05.310 --> 00:13:05.320 align:start position:0% transitions is seems like like pretty 00:13:05.320 --> 00:13:12.030 align:start position:0% transitions is seems like like pretty good<00:13:05.519> path<00:13:05.839> forward<00:13:06.839> um<00:13:07.720> so<00:13:08.440> yeah<00:13:09.440> cool<00:13:10.560> um 00:13:12.030 --> 00:13:12.040 align:start position:0% good path forward um so yeah cool um 00:13:12.040 --> 00:13:15.069 align:start position:0% good path forward um so yeah cool um vitalic<00:13:13.199> now<00:13:14.199> at<00:13:14.320> the<00:13:14.399> moment<00:13:14.680> we<00:13:14.839> have<00:13:14.959> a 00:13:15.069 --> 00:13:15.079 align:start position:0% vitalic now at the moment we have a 00:13:15.079 --> 00:13:16.790 align:start position:0% vitalic now at the moment we have a system<00:13:15.320> that<00:13:15.440> has<00:13:15.560> a<00:13:15.639> number<00:13:15.839> of<00:13:16.000> properties 00:13:16.790 --> 00:13:16.800 align:start position:0% system that has a number of properties 00:13:16.800 --> 00:13:19.710 align:start position:0% system that has a number of properties yes<00:13:17.160> um<00:13:17.360> Martin<00:13:18.199> um<00:13:18.440> mentioned<00:13:18.839> one<00:13:19.079> with<00:13:19.440> um 00:13:19.710 --> 00:13:19.720 align:start position:0% yes um Martin um mentioned one with um 00:13:19.720 --> 00:13:23.069 align:start position:0% yes um Martin um mentioned one with um synchronous<00:13:20.199> calls<00:13:20.560> between<00:13:21.279> contracts<00:13:22.279> um 00:13:23.069 --> 00:13:23.079 align:start position:0% synchronous calls between contracts um 00:13:23.079 --> 00:13:26.230 align:start position:0% synchronous calls between contracts um going<00:13:23.440> forward<00:13:23.959> into<00:13:24.399> a<00:13:25.120> um<00:13:25.519> a<00:13:25.760> viable 00:13:26.230 --> 00:13:26.240 align:start position:0% going forward into a um a viable 00:13:26.240 --> 00:13:29.509 align:start position:0% going forward into a um a viable scalable<00:13:26.839> solution<00:13:27.600> mhm<00:13:28.360> um<00:13:28.920> which<00:13:29.079> of<00:13:29.279> these 00:13:29.509 --> 00:13:29.519 align:start position:0% scalable solution mhm um which of these 00:13:29.519 --> 00:13:33.310 align:start position:0% scalable solution mhm um which of these properties<00:13:30.360> do<00:13:30.480> you<00:13:30.760> expect<00:13:31.199> to<00:13:31.399> see<00:13:32.199> um<00:13:32.360> being 00:13:33.310 --> 00:13:33.320 align:start position:0% properties do you expect to see um being 00:13:33.320 --> 00:13:36.269 align:start position:0% properties do you expect to see um being relaxed<00:13:34.320> right<00:13:34.920> so<00:13:35.160> I<00:13:35.240> think<00:13:35.399> there<00:13:35.519> is<00:13:35.720> a<00:13:35.880> few 00:13:36.269 --> 00:13:36.279 align:start position:0% relaxed right so I think there is a few 00:13:36.279 --> 00:13:38.189 align:start position:0% relaxed right so I think there is a few properties<00:13:36.959> that<00:13:37.199> you<00:13:37.279> know<00:13:37.480> blockchains 00:13:38.189 --> 00:13:38.199 align:start position:0% properties that you know blockchains 00:13:38.199 --> 00:13:40.189 align:start position:0% properties that you know blockchains right<00:13:38.360> now<00:13:38.639> provide<00:13:39.160> whether<00:13:39.760> it<00:13:39.880> was<00:13:40.040> an 00:13:40.189 --> 00:13:40.199 align:start position:0% right now provide whether it was an 00:13:40.199 --> 00:13:42.030 align:start position:0% right now provide whether it was an intentional<00:13:40.720> design<00:13:41.079> goal<00:13:41.480> or<00:13:41.680> you<00:13:41.800> know 00:13:42.030 --> 00:13:42.040 align:start position:0% intentional design goal or you know 00:13:42.040 --> 00:13:45.629 align:start position:0% intentional design goal or you know accidentally<00:13:42.880> so<00:13:43.800> one<00:13:44.279> is<00:13:44.800> this<00:13:45.079> concept<00:13:45.440> of 00:13:45.629 --> 00:13:45.639 align:start position:0% accidentally so one is this concept of 00:13:45.639 --> 00:13:47.509 align:start position:0% accidentally so one is this concept of synchronous<00:13:46.279> completely<00:13:46.720> Global<00:13:47.000> State 00:13:47.509 --> 00:13:47.519 align:start position:0% synchronous completely Global State 00:13:47.519 --> 00:13:50.749 align:start position:0% synchronous completely Global State transitions<00:13:48.519> so<00:13:49.199> an<00:13:49.480> ethereum<00:13:50.000> contracts<00:13:50.560> can 00:13:50.749 --> 00:13:50.759 align:start position:0% transitions so an ethereum contracts can 00:13:50.759 --> 00:13:52.150 align:start position:0% transitions so an ethereum contracts can theoretically<00:13:51.240> call<00:13:51.480> any<00:13:51.680> other<00:13:51.959> other 00:13:52.150 --> 00:13:52.160 align:start position:0% theoretically call any other other 00:13:52.160 --> 00:13:54.590 align:start position:0% theoretically call any other other ethereum<00:13:52.600> contract<00:13:53.560> the<00:13:53.720> specific<00:13:54.079> ethereum 00:13:54.590 --> 00:13:54.600 align:start position:0% ethereum contract the specific ethereum 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align:start position:0% essentially you theoretically have like 00:14:01.880 --> 00:14:04.710 align:start position:0% essentially you theoretically have like pretty<00:14:02.120> much<00:14:02.440> no<00:14:02.839> limits<00:14:03.440> on<00:14:04.320> what<00:14:04.519> the 00:14:04.710 --> 00:14:04.720 align:start position:0% pretty much no limits on what the 00:14:04.720 --> 00:14:06.949 align:start position:0% pretty much no limits on what the resulting<00:14:05.279> state<00:14:05.720> is<00:14:06.079> after<00:14:06.360> one<00:14:06.759> one 00:14:06.949 --> 00:14:06.959 align:start position:0% resulting state is after one one 00:14:06.959 --> 00:14:09.389 align:start position:0% resulting state is after one one transaction<00:14:07.480> got<00:14:07.759> applied<00:14:08.759> except<00:14:09.079> for<00:14:09.279> you 00:14:09.389 --> 00:14:09.399 align:start position:0% transaction got applied except for you 00:14:09.399 --> 00:14:10.910 align:start position:0% transaction got applied except for you know<00:14:09.560> the<00:14:09.720> implied<00:14:10.199> kind<00:14:10.320> of<00:14:10.519> restriction 00:14:10.910 --> 00:14:10.920 align:start position:0% know the implied kind of restriction 00:14:10.920 --> 00:14:14.470 align:start position:0% know the implied kind of restriction that<00:14:11.040> comes<00:14:11.240> from<00:14:11.360> the<00:14:11.519> gas<00:14:11.839> limit<00:14:13.040> so<00:14:14.040> that 00:14:14.470 --> 00:14:14.480 align:start position:0% that comes from the gas limit so that 00:14:14.480 --> 00:14:16.749 align:start position:0% that comes from the gas limit so that another<00:14:15.040> key<00:14:15.240> another<00:14:15.600> key<00:14:15.800> point<00:14:16.240> is<00:14:16.480> that 00:14:16.749 --> 00:14:16.759 align:start position:0% another key another key point is that 00:14:16.759 --> 00:14:18.550 align:start position:0% another key another key point is that absolutely<00:14:17.279> every<00:14:17.519> transaction<00:14:18.079> absolutely 00:14:18.550 --> 00:14:18.560 align:start position:0% absolutely every transaction absolutely 00:14:18.560 --> 00:14:20.389 align:start position:0% absolutely every transaction absolutely every<00:14:18.880> account<00:14:19.360> has<00:14:19.519> the<00:14:19.680> same<00:14:20.000> level<00:14:20.240> of 00:14:20.389 --> 00:14:20.399 align:start position:0% every account has the same level of 00:14:20.399 --> 00:14:22.509 align:start position:0% every account has the same level of security<00:14:21.399> which<00:14:21.639> be<00:14:21.839> which<00:14:21.959> is<00:14:22.160> that<00:14:22.320> you<00:14:22.399> know 00:14:22.509 --> 00:14:22.519 align:start position:0% security which be which is that you know 00:14:22.519 --> 00:14:24.910 align:start position:0% security which be which is that you know in<00:14:22.759> order<00:14:23.040> to<00:14:23.759> reverse<00:14:24.079> the<00:14:24.279> transaction<00:14:24.759> or 00:14:24.910 --> 00:14:24.920 align:start position:0% in order to reverse the transaction or 00:14:24.920 --> 00:14:26.389 align:start position:0% in order to reverse the transaction or in<00:14:25.000> order<00:14:25.199> to<00:14:25.320> censor<00:14:25.759> some<00:14:25.959> particular 00:14:26.389 --> 00:14:26.399 align:start position:0% in order to censor some particular 00:14:26.399 --> 00:14:29.230 align:start position:0% in order to censor some particular application<00:14:27.320> you<00:14:27.519> needs<00:14:27.800> to<00:14:28.000> perform<00:14:28.279> a<00:14:28.360> 51<00:14:28.720> % 00:14:29.230 --> 00:14:29.240 align:start position:0% application you needs to perform a 51 % 00:14:29.240 --> 00:14:32.430 align:start position:0% application you needs to perform a 51 % attack<00:14:29.560> on<00:14:29.759> the<00:14:29.920> entire<00:14:30.639> system<00:14:31.639> you<00:14:31.800> know<00:14:32.000> we 00:14:32.430 --> 00:14:32.440 align:start position:0% attack on the entire system you know we 00:14:32.440 --> 00:14:34.990 align:start position:0% attack on the entire system you know we have<00:14:33.440> there's<00:14:33.720> the<00:14:33.920> question<00:14:34.199> of<00:14:34.480> exactly 00:14:34.990 --> 00:14:35.000 align:start position:0% have there's the question of exactly 00:14:35.000 --> 00:14:36.430 align:start position:0% have there's the question of exactly what<00:14:35.199> exactly<00:14:35.600> what<00:14:35.720> kind<00:14:35.839> of<00:14:36.000> properties<00:14:36.360> the 00:14:36.430 --> 00:14:36.440 align:start position:0% what exactly what kind of properties the 00:14:36.440 --> 00:14:38.509 align:start position:0% what exactly what kind of properties the blockchain<00:14:36.959> provides<00:14:37.440> there's<00:14:37.959> the<00:14:38.079> block 00:14:38.509 --> 00:14:38.519 align:start position:0% blockchain provides there's the block 00:14:38.519 --> 00:14:41.990 align:start position:0% blockchain provides there's the block time<00:14:39.279> so<00:14:39.959> blocks<00:14:40.519> come<00:14:41.120> come<00:14:41.320> every<00:14:41.519> 17 00:14:41.990 --> 00:14:42.000 align:start position:0% time so blocks come come every 17 00:14:42.000 --> 00:14:46.670 align:start position:0% time so blocks come come every 17 seconds<00:14:42.880> approximately<00:14:43.480> on<00:14:44.279> Frontier<00:14:45.519> so<00:14:46.519> out 00:14:46.670 --> 00:14:46.680 align:start position:0% seconds approximately on Frontier so out 00:14:46.680 --> 00:14:48.990 align:start position:0% seconds approximately on Frontier so out of<00:14:46.920> those<00:14:47.279> the<00:14:47.480> question<00:14:47.920> of<00:14:48.279> which<00:14:48.519> ones<00:14:48.839> you 00:14:48.990 --> 00:14:49.000 align:start position:0% of those the question of which ones you 00:14:49.000 --> 00:14:51.310 align:start position:0% of those the question of which ones you want<00:14:49.279> to<00:14:49.600> sacrifice<00:14:50.320> I<00:14:50.399> think<00:14:50.680> really<00:14:50.959> depends 00:14:51.310 --> 00:14:51.320 align:start position:0% want to sacrifice I think really depends 00:14:51.320 --> 00:14:54.949 align:start position:0% want to sacrifice I think really depends on<00:14:51.440> your<00:14:52.000> application<00:14:53.000> so<00:14:53.399> for<00:14:53.800> example<00:14:54.800> you 00:14:54.949 --> 00:14:54.959 align:start position:0% on your application so for example you 00:14:54.959 --> 00:14:56.990 align:start position:0% on your application so for example you know<00:14:55.320> if<00:14:55.560> you're<00:14:55.839> talking<00:14:56.160> about<00:14:56.279> a<00:14:56.399> currency 00:14:56.990 --> 00:14:57.000 align:start position:0% know if you're talking about a currency 00:14:57.000 --> 00:14:59.430 align:start position:0% know if you're talking about a currency application<00:14:58.000> and<00:14:58.240> we<00:14:58.440> have<00:14:58.800> some<00:14:59.040> case<00:14:59.320> where 00:14:59.430 --> 00:14:59.440 align:start position:0% application and we have some case where 00:14:59.440 --> 00:15:01.069 align:start position:0% application and we have some case where you<00:14:59.560> know<00:14:59.680> ethereum<00:15:00.160> let's<00:15:00.320> say<00:15:00.519> has<00:15:00.720> mass 00:15:01.069 --> 00:15:01.079 align:start position:0% you know ethereum let's say has mass 00:15:01.079 --> 00:15:04.590 align:start position:0% you know ethereum let's say has mass adoption<00:15:02.079> and<00:15:02.560> I<00:15:03.120> have<00:15:03.920> some<00:15:04.320> you<00:15:04.440> know 00:15:04.590 --> 00:15:04.600 align:start position:0% adoption and I have some you know 00:15:04.600 --> 00:15:07.389 align:start position:0% adoption and I have some you know ethereum<00:15:05.199> based<00:15:05.720> based<00:15:06.040> tokens<00:15:06.519> such<00:15:06.920> as<00:15:07.240> you 00:15:07.389 --> 00:15:07.399 align:start position:0% ethereum based based tokens such as you 00:15:07.399 --> 00:15:09.870 align:start position:0% ethereum based based tokens such as you know<00:15:08.240> let's<00:15:08.480> say<00:15:08.680> you<00:15:08.759> know<00:15:08.920> digs<00:15:09.360> Global<00:15:09.720> has 00:15:09.870 --> 00:15:09.880 align:start position:0% know let's say you know digs Global has 00:15:09.880 --> 00:15:11.949 align:start position:0% know let's say you know digs Global has their<00:15:10.160> gold<00:15:10.519> gold<00:15:10.800> coin<00:15:10.959> on<00:15:11.120> ethereum<00:15:11.560> out<00:15:11.800> by 00:15:11.949 --> 00:15:11.959 align:start position:0% their gold gold coin on ethereum out by 00:15:11.959 --> 00:15:13.670 align:start position:0% their gold gold coin on ethereum out by then<00:15:12.199> and<00:15:12.320> I<00:15:12.480> wants<00:15:12.759> to<00:15:12.920> pay<00:15:13.040> for<00:15:13.160> a<00:15:13.320> coffee 00:15:13.670 --> 00:15:13.680 align:start position:0% then and I wants to pay for a coffee 00:15:13.680 --> 00:15:17.189 align:start position:0% then and I wants to pay for a coffee using<00:15:13.880> $2<00:15:14.399> of<00:15:14.639> gold<00:15:15.560> then<00:15:16.360> that<00:15:16.560> transaction 00:15:17.189 --> 00:15:17.199 align:start position:0% using $2 of gold then that transaction 00:15:17.199 --> 00:15:19.310 align:start position:0% using $2 of gold then that transaction does<00:15:17.399> not<00:15:17.680> need<00:15:18.000> to<00:15:18.240> necessarily<00:15:19.000> have<00:15:19.160> you 00:15:19.310 --> 00:15:19.320 align:start position:0% does not need to necessarily have you 00:15:19.320 --> 00:15:21.749 align:start position:0% does not need to necessarily have you know<00:15:19.839> an<00:15:20.000> entire<00:15:20.320> $20<00:15:20.680> million<00:15:21.240> of<00:15:21.399> security 00:15:21.749 --> 00:15:21.759 align:start position:0% know an entire $20 million of security 00:15:21.759 --> 00:15:24.629 align:start position:0% know an entire $20 million of security backing<00:15:22.120> it<00:15:22.920> so<00:15:23.600> one<00:15:23.839> route<00:15:24.079> that<00:15:24.199> you<00:15:24.360> could 00:15:24.629 --> 00:15:24.639 align:start position:0% backing it so one route that you could 00:15:24.639 --> 00:15:27.110 align:start position:0% backing it so one route that you could take<00:15:24.880> is<00:15:25.000> you<00:15:25.160> could<00:15:25.399> try<00:15:25.680> to<00:15:26.120> relax<00:15:26.639> security 00:15:27.110 --> 00:15:27.120 align:start position:0% take is you could try to relax security 00:15:27.120 --> 00:15:29.990 align:start position:0% take is you could try to relax security and<00:15:27.279> basically<00:15:27.720> say<00:15:28.240> you<00:15:28.440> p<00:15:28.680> pay<00:15:28.800> for<00:15:29.000> security 00:15:29.990 --> 00:15:30.000 align:start position:0% and basically say you p pay for security 00:15:30.000 --> 00:15:31.949 align:start position:0% and basically say you p pay for security and<00:15:30.440> you<00:15:30.560> know<00:15:30.920> your<00:15:31.079> transactions<00:15:31.600> can<00:15:31.759> be<00:15:31.839> as 00:15:31.949 --> 00:15:31.959 align:start position:0% and you know your transactions can be as 00:15:31.959 --> 00:15:33.230 align:start position:0% and you know your transactions can be as cheap<00:15:32.199> as<00:15:32.319> they<00:15:32.480> want<00:15:32.800> but<00:15:32.959> then<00:15:33.079> their 00:15:33.230 --> 00:15:33.240 align:start position:0% cheap as they want but then their 00:15:33.240 --> 00:15:35.470 align:start position:0% cheap as they want but then their security<00:15:33.560> is<00:15:33.720> also<00:15:33.920> going<00:15:34.040> to<00:15:34.160> be 00:15:35.470 --> 00:15:35.480 align:start position:0% security is also going to be 00:15:35.480 --> 00:15:38.110 align:start position:0% security is also going to be lower<00:15:36.480> now<00:15:36.800> of<00:15:36.920> course<00:15:37.199> one<00:15:37.399> other<00:15:37.720> category 00:15:38.110 --> 00:15:38.120 align:start position:0% lower now of course one other category 00:15:38.120 --> 00:15:40.030 align:start position:0% lower now of course one other category of<00:15:38.279> application<00:15:38.759> where<00:15:39.000> reducing<00:15:39.440> security 00:15:40.030 --> 00:15:40.040 align:start position:0% of application where reducing security 00:15:40.040 --> 00:15:43.269 align:start position:0% of application where reducing security is<00:15:40.279> o<00:15:40.880> is<00:15:41.360> okay<00:15:42.199> right<00:15:42.319> so<00:15:42.519> the<00:15:42.800> well<00:15:42.920> or<00:15:43.040> rather 00:15:43.269 --> 00:15:43.279 align:start position:0% is o is okay right so the well or rather 00:15:43.279 --> 00:15:44.749 align:start position:0% is o is okay right so the well or rather the<00:15:43.399> other<00:15:43.680> property<00:15:44.040> that<00:15:44.199> blockchains 00:15:44.749 --> 00:15:44.759 align:start position:0% the other property that blockchains 00:15:44.759 --> 00:15:46.670 align:start position:0% the other property that blockchains provide<00:15:45.199> is<00:15:45.399> this<00:15:45.600> the<00:15:45.800> existence<00:15:46.279> of<00:15:46.480> this 00:15:46.670 --> 00:15:46.680 align:start position:0% provide is this the existence of this 00:15:46.680 --> 00:15:48.870 align:start position:0% provide is this the existence of this concept<00:15:47.040> of<00:15:47.199> global<00:15:47.720> of<00:15:48.079> global<00:15:48.399> state<00:15:48.720> that 00:15:48.870 --> 00:15:48.880 align:start position:0% concept of global of global state that 00:15:48.880 --> 00:15:51.150 align:start position:0% concept of global of global state that everyone<00:15:49.199> completely<00:15:49.680> agrees<00:15:50.000> on<00:15:50.680> so<00:15:50.880> one 00:15:51.150 --> 00:15:51.160 align:start position:0% everyone completely agrees on so one 00:15:51.160 --> 00:15:52.949 align:start position:0% everyone completely agrees on so one important<00:15:51.560> category<00:15:51.959> of<00:15:52.120> applications<00:15:52.759> as 00:15:52.949 --> 00:15:52.959 align:start position:0% important category of applications as 00:15:52.959 --> 00:15:55.629 align:start position:0% important category of applications as proof<00:15:53.160> of<00:15:53.440> existence<00:15:54.440> so<00:15:54.880> basically<00:15:55.440> this 00:15:55.629 --> 00:15:55.639 align:start position:0% proof of existence so basically this 00:15:55.639 --> 00:15:57.030 align:start position:0% proof of existence so basically this idea<00:15:55.920> of<00:15:56.040> using<00:15:56.279> the<00:15:56.360> blockchain<00:15:56.800> as<00:15:56.880> a 00:15:57.030 --> 00:15:57.040 align:start position:0% idea of using the blockchain as a 00:15:57.040 --> 00:16:00.030 align:start position:0% idea of using the blockchain as a timestamping<00:15:57.680> tool<00:15:58.440> and<00:15:58.680> and<00:15:58.920> basically<00:15:59.920> you 00:16:00.030 --> 00:16:00.040 align:start position:0% timestamping tool and and basically you 00:16:00.040 --> 00:16:02.110 align:start position:0% timestamping tool and and basically you know<00:16:00.199> you<00:16:00.399> said<00:16:00.759> you<00:16:00.959> publish<00:16:01.279> a<00:16:01.440> data<00:16:01.839> a<00:16:01.959> piece 00:16:02.110 --> 00:16:02.120 align:start position:0% know you said you publish a data a piece 00:16:02.120 --> 00:16:04.550 align:start position:0% know you said you publish a data a piece of<00:16:02.319> data<00:16:03.319> a<00:16:03.440> bunch<00:16:03.639> of<00:16:03.800> people's<00:16:04.160> pieces<00:16:04.399> of 00:16:04.550 --> 00:16:04.560 align:start position:0% of data a bunch of people's pieces of 00:16:04.560 --> 00:16:06.790 align:start position:0% of data a bunch of people's pieces of data<00:16:04.800> get<00:16:05.040> aggregated<00:16:05.519> into<00:16:05.680> a<00:16:05.759> Merkel<00:16:06.160> tree 00:16:06.790 --> 00:16:06.800 align:start position:0% data get aggregated into a Merkel tree 00:16:06.800 --> 00:16:08.829 align:start position:0% data get aggregated into a Merkel tree the<00:16:06.920> root<00:16:07.160> of<00:16:07.279> that<00:16:07.399> Merkel<00:16:07.800> tree<00:16:08.199> goes<00:16:08.480> into<00:16:08.720> a 00:16:08.829 --> 00:16:08.839 align:start position:0% the root of that Merkel tree goes into a 00:16:08.839 --> 00:16:11.230 align:start position:0% the root of that Merkel tree goes into a block<00:16:09.120> header<00:16:10.000> and<00:16:10.279> you<00:16:10.480> have<00:16:10.720> this<00:16:10.880> kind<00:16:11.000> of 00:16:11.230 --> 00:16:11.240 align:start position:0% block header and you have this kind of 00:16:11.240 --> 00:16:13.150 align:start position:0% block header and you have this kind of proof<00:16:11.639> that's<00:16:11.800> kind<00:16:11.920> of<00:16:12.120> permanently<00:16:13.040> you 00:16:13.150 --> 00:16:13.160 align:start position:0% proof that's kind of permanently you 00:16:13.160 --> 00:16:15.670 align:start position:0% proof that's kind of permanently you know<00:16:13.920> etched<00:16:14.240> into<00:16:14.600> existence<00:16:15.279> and<00:16:15.440> you<00:16:15.519> can 00:16:15.670 --> 00:16:15.680 align:start position:0% know etched into existence and you can 00:16:15.680 --> 00:16:17.470 align:start position:0% know etched into existence and you can use<00:16:15.880> this<00:16:16.079> spel<00:16:16.399> Branch<00:16:16.720> as<00:16:16.839> a<00:16:16.959> receipt<00:16:17.360> to 00:16:17.470 --> 00:16:17.480 align:start position:0% use this spel Branch as a receipt to 00:16:17.480 --> 00:16:19.829 align:start position:0% use this spel Branch as a receipt to sort<00:16:17.600> of<00:16:17.839> prove<00:16:18.399> to<00:16:18.600> anyone<00:16:18.920> else<00:16:19.160> forever 00:16:19.829 --> 00:16:19.839 align:start position:0% sort of prove to anyone else forever 00:16:19.839 --> 00:16:21.749 align:start position:0% sort of prove to anyone else forever that<00:16:20.279> this<00:16:20.480> particular<00:16:20.959> object<00:16:21.240> exists<00:16:21.560> at 00:16:21.749 --> 00:16:21.759 align:start position:0% that this particular object exists at 00:16:21.759 --> 00:16:23.749 align:start position:0% that this particular object exists at this<00:16:21.920> particular<00:16:22.360> time<00:16:23.240> that's<00:16:23.440> something 00:16:23.749 --> 00:16:23.759 align:start position:0% this particular time that's something 00:16:23.759 --> 00:16:25.749 align:start position:0% this particular time that's something that's<00:16:24.040> actually<00:16:24.440> much<00:16:24.720> easier<00:16:25.079> to<00:16:25.240> scale 00:16:25.749 --> 00:16:25.759 align:start position:0% that's actually much easier to scale 00:16:25.759 --> 00:16:27.670 align:start position:0% that's actually much easier to scale than<00:16:25.959> either<00:16:26.240> currency<00:16:26.720> systems<00:16:27.240> or<00:16:27.560> like 00:16:27.670 --> 00:16:27.680 align:start position:0% than either currency systems or like 00:16:27.680 --> 00:16:30.749 align:start position:0% than either currency systems or like folding<00:16:28.519> we<00:16:28.720> smart<00:16:28.959> contract<00:16:29.560> platforms<00:16:30.560> and 00:16:30.749 --> 00:16:30.759 align:start position:0% folding we smart contract platforms and 00:16:30.759 --> 00:16:32.629 align:start position:0% folding we smart contract platforms and so<00:16:31.199> the<00:16:31.319> way<00:16:31.440> you<00:16:31.600> do<00:16:31.880> that<00:16:32.040> is<00:16:32.199> basically<00:16:32.560> you 00:16:32.629 --> 00:16:32.639 align:start position:0% so the way you do that is basically you 00:16:32.639 --> 00:16:34.990 align:start position:0% so the way you do that is basically you know<00:16:32.839> by<00:16:33.040> sacrificing<00:16:33.720> the<00:16:33.920> idea<00:16:34.360> that<00:16:34.600> even 00:16:34.990 --> 00:16:35.000 align:start position:0% know by sacrificing the idea that even 00:16:35.000 --> 00:16:37.990 align:start position:0% know by sacrificing the idea that even every<00:16:35.199> node<00:16:35.560> needs<00:16:35.800> to<00:16:36.079> receive<00:16:36.680> all<00:16:37.199> needs<00:16:37.519> to 00:16:37.990 --> 00:16:38.000 align:start position:0% every node needs to receive all needs to 00:16:38.000 --> 00:16:39.670 align:start position:0% every node needs to receive all needs to receive<00:16:38.319> or<00:16:38.480> be<00:16:38.639> able<00:16:38.839> to<00:16:39.000> receive<00:16:39.279> all<00:16:39.519> the 00:16:39.670 --> 00:16:39.680 align:start position:0% receive or be able to receive all the 00:16:39.680 --> 00:16:41.910 align:start position:0% receive or be able to receive all the data<00:16:40.360> sacrifice<00:16:41.120> the<00:16:41.240> idea<00:16:41.519> that<00:16:41.600> you<00:16:41.720> needs 00:16:41.910 --> 00:16:41.920 align:start position:0% data sacrifice the idea that you needs 00:16:41.920 --> 00:16:44.430 align:start position:0% data sacrifice the idea that you needs to<00:16:42.120> worry<00:16:42.399> about<00:16:42.639> double<00:16:42.920> spends<00:16:43.839> so<00:16:44.160> or<00:16:44.319> you 00:16:44.430 --> 00:16:44.440 align:start position:0% to worry about double spends so or you 00:16:44.440 --> 00:16:46.949 align:start position:0% to worry about double spends so or you know<00:16:45.079> that<00:16:45.680> two<00:16:46.000> people<00:16:46.319> creating<00:16:46.639> the<00:16:46.759> same 00:16:46.949 --> 00:16:46.959 align:start position:0% know that two people creating the same 00:16:46.959 --> 00:16:48.949 align:start position:0% know that two people creating the same record<00:16:47.519> at<00:16:47.600> the<00:16:47.720> same<00:16:47.880> time<00:16:48.040> is<00:16:48.160> a 00:16:48.949 --> 00:16:48.959 align:start position:0% record at the same time is a 00:16:48.959 --> 00:16:51.350 align:start position:0% record at the same time is a problem<00:16:49.959> another<00:16:50.399> category<00:16:50.839> of<00:16:51.040> things 00:16:51.350 --> 00:16:51.360 align:start position:0% problem another category of things 00:16:51.360 --> 00:16:53.790 align:start position:0% problem another category of things that's<00:16:51.680> worth<00:16:52.360> um<00:16:52.639> com<00:16:53.240> that's<00:16:53.440> worth 00:16:53.790 --> 00:16:53.800 align:start position:0% that's worth um com that's worth 00:16:53.800 --> 00:16:56.189 align:start position:0% that's worth um com that's worth thinking<00:16:54.079> of<00:16:54.279> compromising<00:16:54.800> on<00:16:55.000> a<00:16:55.199> synchrony 00:16:56.189 --> 00:16:56.199 align:start position:0% thinking of compromising on a synchrony 00:16:56.199 --> 00:16:58.910 align:start position:0% thinking of compromising on a synchrony so<00:16:57.120> in<00:16:57.319> general<00:16:57.680> you<00:16:57.839> know<00:16:58.160> with<00:16:58.480> some<00:16:58.639> with<00:16:58.759> a 00:16:58.910 --> 00:16:58.920 align:start position:0% so in general you know with some with a 00:16:58.920 --> 00:17:00.629 align:start position:0% so in general you know with some with a theorum<00:16:59.360> right<00:16:59.480> now<00:16:59.759> any<00:17:00.000> contracts<00:17:00.480> can 00:17:00.629 --> 00:17:00.639 align:start position:0% theorum right now any contracts can 00:17:00.639 --> 00:17:02.790 align:start position:0% theorum right now any contracts can theoretically<00:17:01.240> make<00:17:01.639> a<00:17:01.839> huge<00:17:02.079> set<00:17:02.240> of<00:17:02.360> changes 00:17:02.790 --> 00:17:02.800 align:start position:0% theoretically make a huge set of changes 00:17:02.800 --> 00:17:04.990 align:start position:0% theoretically make a huge set of changes and<00:17:03.000> therefore<00:17:03.920> if<00:17:04.079> you<00:17:04.240> get<00:17:04.439> two 00:17:04.990 --> 00:17:05.000 align:start position:0% and therefore if you get two 00:17:05.000 --> 00:17:07.309 align:start position:0% and therefore if you get two transactions<00:17:06.000> right<00:17:06.199> now<00:17:06.640> it's<00:17:06.880> virtually 00:17:07.309 --> 00:17:07.319 align:start position:0% transactions right now it's virtually 00:17:07.319 --> 00:17:09.590 align:start position:0% transactions right now it's virtually impossible<00:17:07.799> to<00:17:08.039> process<00:17:08.520> them<00:17:08.839> in<00:17:09.039> parallel 00:17:09.590 --> 00:17:09.600 align:start position:0% impossible to process them in parallel 00:17:09.600 --> 00:17:11.870 align:start position:0% impossible to process them in parallel in<00:17:09.720> the<00:17:09.839> general<00:17:10.439> case<00:17:11.439> because 00:17:11.870 --> 00:17:11.880 align:start position:0% in the general case because 00:17:11.880 --> 00:17:13.189 align:start position:0% in the general case because theoretically<00:17:12.520> they<00:17:12.640> might<00:17:12.839> end<00:17:13.000> up 00:17:13.189 --> 00:17:13.199 align:start position:0% theoretically they might end up 00:17:13.199 --> 00:17:15.429 align:start position:0% theoretically they might end up affecting<00:17:13.559> the<00:17:13.679> same<00:17:13.959> account<00:17:14.799> and<00:17:15.079> the<00:17:15.240> way 00:17:15.429 --> 00:17:15.439 align:start position:0% affecting the same account and the way 00:17:15.439 --> 00:17:16.870 align:start position:0% affecting the same account and the way that<00:17:15.559> they<00:17:15.679> affect<00:17:16.000> that<00:17:16.160> same<00:17:16.400> account<00:17:16.720> might 00:17:16.870 --> 00:17:16.880 align:start position:0% that they affect that same account might 00:17:16.880 --> 00:17:20.350 align:start position:0% that they affect that same account might be<00:17:17.000> non-c<00:17:17.559> communative<00:17:18.559> and<00:17:19.360> you<00:17:19.480> know<00:17:20.120> you 00:17:20.350 --> 00:17:20.360 align:start position:0% be non-c communative and you know you 00:17:20.360 --> 00:17:22.549 align:start position:0% be non-c communative and you know you can't<00:17:21.079> necessarily<00:17:21.600> sort<00:17:21.760> of<00:17:21.880> detach<00:17:22.319> those 00:17:22.549 --> 00:17:22.559 align:start position:0% can't necessarily sort of detach those 00:17:22.559 --> 00:17:24.429 align:start position:0% can't necessarily sort of detach those cases<00:17:22.880> beforehand<00:17:23.520> because<00:17:23.760> of<00:17:24.120> various 00:17:24.429 --> 00:17:24.439 align:start position:0% cases beforehand because of various 00:17:24.439 --> 00:17:27.270 align:start position:0% cases beforehand because of various corollaries<00:17:25.000> to<00:17:25.120> the<00:17:25.199> halting<00:17:25.640> problem<00:17:26.280> so 00:17:27.270 --> 00:17:27.280 align:start position:0% corollaries to the halting problem so 00:17:27.280 --> 00:17:29.150 align:start position:0% corollaries to the halting problem so one<00:17:27.559> approach<00:17:27.880> that<00:17:28.000> you<00:17:28.120> could<00:17:28.559> take<00:17:28.760> is<00:17:28.919> you 00:17:29.150 --> 00:17:29.160 align:start position:0% one approach that you could take is you 00:17:29.160 --> 00:17:32.430 align:start position:0% one approach that you could take is you could<00:17:29.600> say<00:17:30.039> that<00:17:30.720> contracts<00:17:31.480> in<00:17:31.679> some<00:17:32.000> cases 00:17:32.430 --> 00:17:32.440 align:start position:0% could say that contracts in some cases 00:17:32.440 --> 00:17:34.190 align:start position:0% could say that contracts in some cases so<00:17:32.679> let's<00:17:32.840> say<00:17:33.000> if<00:17:33.080> you<00:17:33.240> split<00:17:33.559> up<00:17:33.720> the<00:17:33.880> space 00:17:34.190 --> 00:17:34.200 align:start position:0% so let's say if you split up the space 00:17:34.200 --> 00:17:37.230 align:start position:0% so let's say if you split up the space into<00:17:34.520> into<00:17:34.799> you<00:17:34.880> know<00:17:35.080> we<00:17:35.240> call<00:17:35.600> shards<00:17:36.600> then 00:17:37.230 --> 00:17:37.240 align:start position:0% into into you know we call shards then 00:17:37.240 --> 00:17:38.950 align:start position:0% into into you know we call shards then contracts<00:17:37.760> that<00:17:37.960> call<00:17:38.320> contracts<00:17:38.760> that<00:17:38.880> are 00:17:38.950 --> 00:17:38.960 align:start position:0% contracts that call contracts that are 00:17:38.960 --> 00:17:40.470 align:start position:0% contracts that call contracts that are sort<00:17:39.120> of<00:17:39.240> physically<00:17:39.600> close<00:17:39.880> to<00:17:40.000> them<00:17:40.160> by<00:17:40.280> some 00:17:40.470 --> 00:17:40.480 align:start position:0% sort of physically close to them by some 00:17:40.480 --> 00:17:42.750 align:start position:0% sort of physically close to them by some metrics<00:17:40.919> they<00:17:41.039> can<00:17:41.160> do<00:17:41.280> that<00:17:41.760> synchronously 00:17:42.750 --> 00:17:42.760 align:start position:0% metrics they can do that synchronously 00:17:42.760 --> 00:17:44.870 align:start position:0% metrics they can do that synchronously but<00:17:43.000> if<00:17:43.120> he<00:17:43.280> wants<00:17:43.559> to<00:17:43.760> call<00:17:44.080> some<00:17:44.480> call<00:17:44.679> a 00:17:44.870 --> 00:17:44.880 align:start position:0% but if he wants to call some call a 00:17:44.880 --> 00:17:46.590 align:start position:0% but if he wants to call some call a contract<00:17:45.360> that's<00:17:45.559> say<00:17:45.840> very<00:17:46.039> far<00:17:46.280> away<00:17:46.480> in 00:17:46.590 --> 00:17:46.600 align:start position:0% contract that's say very far away in 00:17:46.600 --> 00:17:49.430 align:start position:0% contract that's say very far away in this<00:17:46.760> metrick<00:17:47.440> then<00:17:48.160> basically<00:17:48.720> the<00:17:49.000> concept 00:17:49.430 --> 00:17:49.440 align:start position:0% this metrick then basically the concept 00:17:49.440 --> 00:17:52.549 align:start position:0% this metrick then basically the concept of<00:17:50.280> the<00:17:50.559> event<00:17:51.039> of<00:17:51.240> making<00:17:51.559> a<00:17:51.720> function<00:17:52.120> call 00:17:52.549 --> 00:17:52.559 align:start position:0% of the event of making a function call 00:17:52.559 --> 00:17:53.950 align:start position:0% of the event of making a function call and<00:17:52.679> the<00:17:52.799> event<00:17:53.080> of<00:17:53.320> processing<00:17:53.799> that 00:17:53.950 --> 00:17:53.960 align:start position:0% and the event of processing that 00:17:53.960 --> 00:17:56.470 align:start position:0% and the event of processing that function<00:17:54.320> call<00:17:54.480> in<00:17:54.559> a<00:17:54.679> separate<00:17:55.320> chard<00:17:56.320> might 00:17:56.470 --> 00:17:56.480 align:start position:0% function call in a separate chard might 00:17:56.480 --> 00:17:57.990 align:start position:0% function call in a separate chard might needs<00:17:56.799> to<00:17:56.919> be<00:17:57.039> sort<00:17:57.200> of<00:17:57.360> separated<00:17:57.760> from<00:17:57.880> each 00:17:57.990 --> 00:17:58.000 align:start position:0% needs to be sort of separated from each 00:17:58.000 --> 00:17:59.510 align:start position:0% needs to be sort of separated from each other<00:17:58.159> in<00:17:58.559> time<00:17:58.840> and<00:17:59.000> that's<00:17:59.159> something<00:17:59.400> I'm 00:17:59.510 --> 00:17:59.520 align:start position:0% other in time and that's something I'm 00:17:59.520 --> 00:18:00.870 align:start position:0% other in time and that's something I'm actually<00:17:59.720> going<00:17:59.840> to<00:17:59.960> be<00:18:00.080> talking<00:18:00.440> about<00:18:00.760> quite 00:18:00.870 --> 00:18:00.880 align:start position:0% actually going to be talking about quite 00:18:00.880 --> 00:18:03.990 align:start position:0% actually going to be talking about quite a<00:18:00.960> bit<00:18:01.120> more<00:18:01.360> this<00:18:01.640> afternoon<00:18:02.640> so<00:18:03.600> I<00:18:03.720> think 00:18:03.990 --> 00:18:04.000 align:start position:0% a bit more this afternoon so I think 00:18:04.000 --> 00:18:05.470 align:start position:0% a bit more this afternoon so I think depending<00:18:04.400> on<00:18:04.760> depending<00:18:05.039> on<00:18:05.240> which 00:18:05.470 --> 00:18:05.480 align:start position:0% depending on depending on which 00:18:05.480 --> 00:18:07.870 align:start position:0% depending on depending on which application<00:18:06.080> you<00:18:06.200> know<00:18:07.039> which<00:18:07.200> one<00:18:07.360> of<00:18:07.760> which 00:18:07.870 --> 00:18:07.880 align:start position:0% application you know which one of which 00:18:07.880 --> 00:18:09.390 align:start position:0% application you know which one of which one<00:18:08.000> of<00:18:08.120> those<00:18:08.280> you<00:18:08.520> you<00:18:08.640> want<00:18:08.720> to<00:18:08.960> compromise 00:18:09.390 --> 00:18:09.400 align:start position:0% one of those you you want to compromise 00:18:09.400 --> 00:18:11.669 align:start position:0% one of those you you want to compromise on<00:18:09.600> is<00:18:10.039> you<00:18:10.120> know<00:18:10.320> it<00:18:10.480> might<00:18:10.640> be<00:18:10.840> different<00:18:11.559> the 00:18:11.669 --> 00:18:11.679 align:start position:0% on is you know it might be different the 00:18:11.679 --> 00:18:13.230 align:start position:0% on is you know it might be different the challenge<00:18:12.000> with<00:18:12.159> ethereum<00:18:12.720> of<00:18:12.840> course<00:18:13.080> is 00:18:13.230 --> 00:18:13.240 align:start position:0% challenge with ethereum of course is 00:18:13.240 --> 00:18:14.630 align:start position:0% challenge with ethereum of course is that<00:18:13.360> you<00:18:13.440> know<00:18:13.559> we<00:18:13.640> are<00:18:13.840> trying<00:18:14.080> to<00:18:14.360> create 00:18:14.630 --> 00:18:14.640 align:start position:0% that you know we are trying to create 00:18:14.640 --> 00:18:16.310 align:start position:0% that you know we are trying to create this<00:18:14.799> sort<00:18:15.000> of<00:18:15.360> decentralization<00:18:16.159> for 00:18:16.310 --> 00:18:16.320 align:start position:0% this sort of decentralization for 00:18:16.320 --> 00:18:18.070 align:start position:0% this sort of decentralization for dummies<00:18:16.760> kind<00:18:16.880> of<00:18:17.039> platform<00:18:17.440> and<00:18:17.559> we<00:18:17.679> wants<00:18:17.919> to 00:18:18.070 --> 00:18:18.080 align:start position:0% dummies kind of platform and we wants to 00:18:18.080 --> 00:18:20.510 align:start position:0% dummies kind of platform and we wants to sort<00:18:18.240> of<00:18:18.720> protect<00:18:19.240> developers<00:18:19.960> as<00:18:20.120> much<00:18:20.320> as 00:18:20.510 --> 00:18:20.520 align:start position:0% sort of protect developers as much as 00:18:20.520 --> 00:18:22.029 align:start position:0% sort of protect developers as much as possible<00:18:20.840> from<00:18:21.000> having<00:18:21.200> to<00:18:21.360> even<00:18:21.600> think<00:18:21.799> about 00:18:22.029 --> 00:18:22.039 align:start position:0% possible from having to even think about 00:18:22.039 --> 00:18:24.149 align:start position:0% possible from having to even think about these<00:18:22.200> issues<00:18:23.200> so<00:18:23.400> I<00:18:23.480> think<00:18:23.640> and<00:18:23.760> a<00:18:23.960> really 00:18:24.149 --> 00:18:24.159 align:start position:0% these issues so I think and a really 00:18:24.159 --> 00:18:25.510 align:start position:0% these issues so I think and a really important<00:18:24.520> question<00:18:24.760> for<00:18:24.919> us<00:18:25.039> all<00:18:25.200> to<00:18:25.280> be<00:18:25.440> you 00:18:25.510 --> 00:18:25.520 align:start position:0% important question for us all to be you 00:18:25.520 --> 00:18:27.549 align:start position:0% important question for us all to be you know<00:18:25.679> trying<00:18:25.880> to<00:18:26.000> figure<00:18:26.240> out<00:18:26.480> is<00:18:27.120> what<00:18:27.280> are 00:18:27.549 --> 00:18:27.559 align:start position:0% know trying to figure out is what are 00:18:27.559 --> 00:18:29.270 align:start position:0% know trying to figure out is what are the<00:18:27.760> nicest<00:18:28.480> simplest<00:18:28.840> and<00:18:28.960> sort<00:18:29.120> of<00:18:29.200> the 00:18:29.270 --> 00:18:29.280 align:start position:0% the nicest simplest and sort of the 00:18:29.280 --> 00:18:31.110 align:start position:0% the nicest simplest and sort of the developer<00:18:29.720> friendliest<00:18:30.320> possible 00:18:31.110 --> 00:18:31.120 align:start position:0% developer friendliest possible 00:18:31.120 --> 00:18:33.950 align:start position:0% developer friendliest possible abstractions<00:18:32.120> that<00:18:32.280> we<00:18:32.440> can<00:18:32.799> give<00:18:33.159> developers 00:18:33.950 --> 00:18:33.960 align:start position:0% abstractions that we can give developers 00:18:33.960 --> 00:18:37.470 align:start position:0% abstractions that we can give developers in<00:18:34.080> order<00:18:34.480> to<00:18:35.440> let<00:18:35.720> them<00:18:35.919> sort<00:18:36.080> of<00:18:36.360> choose<00:18:37.320> what 00:18:37.470 --> 00:18:37.480 align:start position:0% in order to let them sort of choose what 00:18:37.480 --> 00:18:40.190 align:start position:0% in order to let them sort of choose what tra<00:18:38.039> what<00:18:38.200> trade-offs<00:18:38.799> they<00:18:38.960> want<00:18:39.799> among<00:18:40.039> the 00:18:40.190 --> 00:18:40.200 align:start position:0% tra what trade-offs they want among the 00:18:40.200 --> 00:18:42.110 align:start position:0% tra what trade-offs they want among the different<00:18:40.440> choices<00:18:40.880> you<00:18:41.000> know<00:18:41.159> to<00:18:41.400> the<00:18:41.760> to<00:18:41.960> the 00:18:42.110 --> 00:18:42.120 align:start position:0% different choices you know to the to the 00:18:42.120 --> 00:18:44.669 align:start position:0% different choices you know to the to the extent<00:18:42.440> that<00:18:42.600> they<00:18:42.760> have<00:18:42.919> to<00:18:43.280> without<00:18:43.919> and<00:18:44.559> at 00:18:44.669 --> 00:18:44.679 align:start position:0% extent that they have to without and at 00:18:44.679 --> 00:18:46.470 align:start position:0% extent that they have to without and at the<00:18:44.799> same<00:18:45.080> time<00:18:45.320> still<00:18:45.640> make<00:18:45.880> development<00:18:46.360> as 00:18:46.470 --> 00:18:46.480 align:start position:0% the same time still make development as 00:18:46.480 --> 00:18:48.070 align:start position:0% the same time still make development as easy<00:18:46.679> and<00:18:46.799> intuitive<00:18:47.240> as 00:18:48.070 --> 00:18:48.080 align:start position:0% easy and intuitive as 00:18:48.080 --> 00:18:54.310 align:start position:0% easy and intuitive as possible<00:18:49.480> thanks<00:18:50.480> um<00:18:51.000> Martin<00:18:52.000> Could<00:18:52.200> you<00:18:53.320> um 00:18:54.310 --> 00:18:54.320 align:start position:0% possible thanks um Martin Could you um 00:18:54.320 --> 00:18:56.950 align:start position:0% possible thanks um Martin Could you um JavaScript<00:18:54.880> is<00:18:55.080> nice<00:18:55.360> as<00:18:55.440> a<00:18:55.640> language<00:18:56.480> in<00:18:56.679> that 00:18:56.950 --> 00:18:56.960 align:start position:0% JavaScript is nice as a language in that 00:18:56.960 --> 00:18:59.029 align:start position:0% JavaScript is nice as a language in that it<00:18:57.200> gives<00:18:57.400> you<00:18:57.640> an<00:18:57.840> awful<00:18:58.120> lot<00:18:58.400> lot<00:18:58.720> of 00:18:59.029 --> 00:18:59.039 align:start position:0% it gives you an awful lot lot of 00:18:59.039 --> 00:19:02.430 align:start position:0% it gives you an awful lot lot of latitude<00:18:59.679> with<00:18:59.919> what<00:19:00.360> paradigms<00:19:00.880> you<00:19:00.960> can<00:19:01.200> use 00:19:02.430 --> 00:19:02.440 align:start position:0% latitude with what paradigms you can use 00:19:02.440 --> 00:19:07.430 align:start position:0% latitude with what paradigms you can use um<00:19:03.440> can<00:19:03.600> you<00:19:03.840> imagine<00:19:04.520> any<00:19:05.520> um<00:19:06.520> alterations<00:19:07.200> to 00:19:07.430 --> 00:19:07.440 align:start position:0% um can you imagine any um alterations to 00:19:07.440 --> 00:19:08.870 align:start position:0% um can you imagine any um alterations to contract<00:19:07.840> programming<00:19:08.320> perhaps<00:19:08.600> even<00:19:08.760> the 00:19:08.870 --> 00:19:08.880 align:start position:0% contract programming perhaps even the 00:19:08.880 --> 00:19:11.430 align:start position:0% contract programming perhaps even the virtual<00:19:09.240> machine<00:19:10.159> that<00:19:10.440> would 00:19:11.430 --> 00:19:11.440 align:start position:0% virtual machine that would 00:19:11.440 --> 00:19:14.990 align:start position:0% virtual machine that would facilitate<00:19:12.440> um<00:19:13.000> paradigms<00:19:13.600> allowing<00:19:13.960> you<00:19:14.120> to 00:19:14.990 --> 00:19:15.000 align:start position:0% facilitate um paradigms allowing you to 00:19:15.000 --> 00:19:17.310 align:start position:0% facilitate um paradigms allowing you to program<00:19:15.360> on<00:19:15.520> a<00:19:15.760> on<00:19:15.880> a<00:19:16.039> system<00:19:16.400> that<00:19:16.559> vitalic 00:19:17.310 --> 00:19:17.320 align:start position:0% program on a on a system that vitalic 00:19:17.320 --> 00:19:20.390 align:start position:0% program on a on a system that vitalic talking<00:19:17.679> about<00:19:18.640> oh<00:19:18.799> yeah<00:19:19.240> definitely<00:19:20.240> yeah 00:19:20.390 --> 00:19:20.400 align:start position:0% talking about oh yeah definitely yeah 00:19:20.400 --> 00:19:23.750 align:start position:0% talking about oh yeah definitely yeah definitely<00:19:21.000> um<00:19:21.960> um<00:19:22.400> asynchronicity<00:19:23.280> is<00:19:23.559> very 00:19:23.750 --> 00:19:23.760 align:start position:0% definitely um um asynchronicity is very 00:19:23.760 --> 00:19:26.669 align:start position:0% definitely um um asynchronicity is very important<00:19:24.080> in<00:19:24.200> JavaScript<00:19:25.039> um<00:19:25.679> it<00:19:25.799> was<00:19:26.080> invi 00:19:26.669 --> 00:19:26.679 align:start position:0% important in JavaScript um it was invi 00:19:26.679 --> 00:19:29.149 align:start position:0% important in JavaScript um it was invi designed<00:19:27.039> to<00:19:27.559> run<00:19:27.760> in<00:19:27.919> single<00:19:28.400> event<00:19:28.640> Loop<00:19:28.919> and 00:19:29.149 --> 00:19:29.159 align:start position:0% designed to run in single event Loop and 00:19:29.159 --> 00:19:30.909 align:start position:0% designed to run in single event Loop and you<00:19:29.280> don't<00:19:29.480> want<00:19:29.559> to<00:19:30.120> you<00:19:30.240> don't<00:19:30.400> want<00:19:30.520> to<00:19:30.679> stop 00:19:30.909 --> 00:19:30.919 align:start position:0% you don't want to you don't want to stop 00:19:30.919 --> 00:19:33.590 align:start position:0% you don't want to you don't want to stop that<00:19:31.120> event<00:19:31.400> Loop<00:19:32.120> um<00:19:32.480> so<00:19:32.799> if<00:19:33.039> you<00:19:33.200> don't 00:19:33.590 --> 00:19:33.600 align:start position:0% that event Loop um so if you don't 00:19:33.600 --> 00:19:35.750 align:start position:0% that event Loop um so if you don't program<00:19:34.080> asynchronously<00:19:34.960> in<00:19:35.120> JavaScript 00:19:35.750 --> 00:19:35.760 align:start position:0% program asynchronously in JavaScript 00:19:35.760 --> 00:19:38.070 align:start position:0% program asynchronously in JavaScript it's<00:19:36.159> uh<00:19:36.440> you<00:19:36.559> get<00:19:36.799> really<00:19:37.240> poor 00:19:38.070 --> 00:19:38.080 align:start position:0% it's uh you get really poor 00:19:38.080 --> 00:19:39.710 align:start position:0% it's uh you get really poor performance 00:19:39.710 --> 00:19:39.720 align:start position:0% performance 00:19:39.720 --> 00:19:42.710 align:start position:0% performance um<00:19:40.720> and<00:19:41.240> I<00:19:41.799> I<00:19:41.880> don't<00:19:42.080> think<00:19:42.240> that<00:19:42.400> this 00:19:42.710 --> 00:19:42.720 align:start position:0% um and I I don't think that this 00:19:42.720 --> 00:19:44.310 align:start position:0% um and I I don't think that this necessarily<00:19:43.159> holds<00:19:43.440> just<00:19:43.600> for<00:19:43.720> JavaScript 00:19:44.310 --> 00:19:44.320 align:start position:0% necessarily holds just for JavaScript 00:19:44.320 --> 00:19:47.190 align:start position:0% necessarily holds just for JavaScript but<00:19:44.600> uh<00:19:45.039> the<00:19:45.159> the<00:19:45.720> asynchronous<00:19:46.720> uh<00:19:46.880> design 00:19:47.190 --> 00:19:47.200 align:start position:0% but uh the the asynchronous uh design 00:19:47.200 --> 00:19:49.750 align:start position:0% but uh the the asynchronous uh design patterns<00:19:48.200> uh<00:19:48.400> I<00:19:48.480> think<00:19:48.640> are<00:19:49.080> very<00:19:49.320> relevant 00:19:49.750 --> 00:19:49.760 align:start position:0% patterns uh I think are very relevant 00:19:49.760 --> 00:19:53.029 align:start position:0% patterns uh I think are very relevant here<00:19:50.280> so<00:19:50.559> I<00:19:50.640> would<00:19:50.880> imagine<00:19:51.760> if<00:19:51.919> we<00:19:52.120> had<00:19:52.840> from 00:19:53.029 --> 00:19:53.039 align:start position:0% here so I would imagine if we had from 00:19:53.039 --> 00:19:54.390 align:start position:0% here so I would imagine if we had from from<00:19:53.200> a<00:19:53.320> developer's<00:19:53.880> point<00:19:54.039> of<00:19:54.159> view<00:19:54.320> if 00:19:54.390 --> 00:19:54.400 align:start position:0% from a developer's point of view if 00:19:54.400 --> 00:19:56.909 align:start position:0% from a developer's point of view if you're<00:19:54.559> a<00:19:54.720> contract<00:19:55.360> developer 00:19:56.909 --> 00:19:56.919 align:start position:0% you're a contract developer 00:19:56.919 --> 00:20:00.390 align:start position:0% you're a contract developer um<00:19:57.919> and<00:19:58.280> and<00:19:59.000> we<00:19:59.200> had<00:19:59.360> an<00:19:59.559> asynchronous<00:20:00.240> a 00:20:00.390 --> 00:20:00.400 align:start position:0% um and and we had an asynchronous a 00:20:00.400 --> 00:20:02.870 align:start position:0% um and and we had an asynchronous a development<00:20:00.880> when<00:20:01.000> you're<00:20:01.159> calling<00:20:01.880> like<00:20:02.159> to 00:20:02.870 --> 00:20:02.880 align:start position:0% development when you're calling like to 00:20:02.880 --> 00:20:05.029 align:start position:0% development when you're calling like to uh<00:20:03.000> some<00:20:03.240> part<00:20:03.400> of<00:20:03.559> the<00:20:04.400> uh<00:20:04.559> State<00:20:04.840> that's 00:20:05.029 --> 00:20:05.039 align:start position:0% uh some part of the uh State that's 00:20:05.039 --> 00:20:06.830 align:start position:0% uh some part of the uh State that's really<00:20:05.280> really<00:20:05.480> far<00:20:05.679> away<00:20:06.240> and<00:20:06.480> it's<00:20:06.600> going<00:20:06.720> to 00:20:06.830 --> 00:20:06.840 align:start position:0% really really far away and it's going to 00:20:06.840 --> 00:20:09.909 align:start position:0% really really far away and it's going to take<00:20:07.000> a<00:20:07.240> while<00:20:08.240> it<00:20:08.360> would<00:20:08.799> be<00:20:09.039> sort<00:20:09.240> of<00:20:09.640> like 00:20:09.909 --> 00:20:09.919 align:start position:0% take a while it would be sort of like 00:20:09.919 --> 00:20:12.510 align:start position:0% take a while it would be sort of like getting<00:20:10.200> a<00:20:10.440> promise<00:20:10.880> back<00:20:11.360> in<00:20:11.559> JavaScript<00:20:12.200> or 00:20:12.510 --> 00:20:12.520 align:start position:0% getting a promise back in JavaScript or 00:20:12.520 --> 00:20:16.149 align:start position:0% getting a promise back in JavaScript or a<00:20:13.000> call<00:20:13.320> back<00:20:13.760> you<00:20:13.880> know<00:20:14.720> it<00:20:15.280> it<00:20:15.400> could<00:20:15.600> be<00:20:16.039> it 00:20:16.149 --> 00:20:16.159 align:start position:0% a call back you know it it could be it 00:20:16.159 --> 00:20:22.630 align:start position:0% a call back you know it it could be it could<00:20:16.640> work<00:20:16.919> the<00:20:17.080> same<00:20:17.440> way<00:20:18.440> so<00:20:19.000> yeah<00:20:20.400> cool<00:20:21.640> um 00:20:22.630 --> 00:20:22.640 align:start position:0% could work the same way so yeah cool um 00:20:22.640 --> 00:20:27.029 align:start position:0% could work the same way so yeah cool um when<00:20:22.840> we<00:20:23.080> tend<00:20:23.320> to<00:20:23.600> think<00:20:24.200> about<00:20:25.320> um<00:20:26.320> scalable 00:20:27.029 --> 00:20:27.039 align:start position:0% when we tend to think about um scalable 00:20:27.039 --> 00:20:30.510 align:start position:0% when we tend to think about um scalable Solutions<00:20:28.039> um<00:20:28.480> normally<00:20:29.480> in<00:20:29.720> some<00:20:30.039> sense<00:20:30.360> at 00:20:30.510 --> 00:20:30.520 align:start position:0% Solutions um normally in some sense at 00:20:30.520 --> 00:20:34.029 align:start position:0% Solutions um normally in some sense at least<00:20:30.799> they<00:20:30.960> revolve<00:20:31.799> around<00:20:32.799> not<00:20:33.159> all<00:20:33.440> nodes 00:20:34.029 --> 00:20:34.039 align:start position:0% least they revolve around not all nodes 00:20:34.039 --> 00:20:36.549 align:start position:0% least they revolve around not all nodes processing<00:20:34.480> all<00:20:34.840> transactions<00:20:35.840> or<00:20:36.200> storing 00:20:36.549 --> 00:20:36.559 align:start position:0% processing all transactions or storing 00:20:36.559 --> 00:20:40.029 align:start position:0% processing all transactions or storing all<00:20:36.799> data<00:20:37.080> or<00:20:37.200> even<00:20:37.440> being<00:20:37.720> aware<00:20:38.120> of<00:20:38.480> of<00:20:38.640> all 00:20:40.029 --> 00:20:40.039 align:start position:0% all data or even being aware of of all 00:20:40.039 --> 00:20:44.830 align:start position:0% all data or even being aware of of all data<00:20:41.159> this<00:20:42.159> um<00:20:42.559> brings<00:20:43.159> into<00:20:43.840> the<00:20:44.000> Limelight<00:20:44.600> a 00:20:44.830 --> 00:20:44.840 align:start position:0% data this um brings into the Limelight a 00:20:44.840 --> 00:20:47.669 align:start position:0% data this um brings into the Limelight a problem<00:20:45.840> uh<00:20:46.000> known<00:20:46.280> as<00:20:46.520> data<00:20:46.919> availability<00:20:47.520> or 00:20:47.669 --> 00:20:47.679 align:start position:0% problem uh known as data availability or 00:20:47.679 --> 00:20:51.390 align:start position:0% problem uh known as data availability or proof<00:20:47.880> of<00:20:48.360> availability<00:20:49.360> whereby<00:20:50.320> nodes<00:20:51.159> that 00:20:51.390 --> 00:20:51.400 align:start position:0% proof of availability whereby nodes that 00:20:51.400 --> 00:20:54.710 align:start position:0% proof of availability whereby nodes that are<00:20:51.679> not<00:20:51.919> privy<00:20:52.440> to<00:20:53.200> um<00:20:53.600> the<00:20:54.000> transactions 00:20:54.710 --> 00:20:54.720 align:start position:0% are not privy to um the transactions 00:20:54.720 --> 00:20:56.789 align:start position:0% are not privy to um the transactions that<00:20:54.840> some<00:20:55.039> other<00:20:55.200> nodes<00:20:55.640> have<00:20:55.960> have 00:20:56.789 --> 00:20:56.799 align:start position:0% that some other nodes have have 00:20:56.799 --> 00:21:01.310 align:start position:0% that some other nodes have have validated<00:20:57.799> um<00:20:58.200> must<00:20:59.080> ultimately<00:20:59.760> work<00:21:00.320> with 00:21:01.310 --> 00:21:01.320 align:start position:0% validated um must ultimately work with 00:21:01.320 --> 00:21:03.510 align:start position:0% validated um must ultimately work with um<00:21:01.600> work<00:21:01.880> with<00:21:02.200> those<00:21:02.520> those 00:21:03.510 --> 00:21:03.520 align:start position:0% um work with those those 00:21:03.520 --> 00:21:07.149 align:start position:0% um work with those those transactions<00:21:04.520> um<00:21:04.799> could<00:21:05.000> you<00:21:05.919> um<00:21:06.280> give<00:21:06.480> some 00:21:07.149 --> 00:21:07.159 align:start position:0% transactions um could you um give some 00:21:07.159 --> 00:21:08.270 align:start position:0% transactions um could you um give some proposals 00:21:08.270 --> 00:21:08.280 align:start position:0% proposals 00:21:08.280 --> 00:21:11.990 align:start position:0% proposals vad<00:21:09.280> um<00:21:09.520> on<00:21:10.120> how<00:21:10.279> to<00:21:10.960> um<00:21:11.320> address<00:21:11.640> data 00:21:11.990 --> 00:21:12.000 align:start position:0% vad um on how to um address data 00:21:12.000 --> 00:21:14.750 align:start position:0% vad um on how to um address data availability<00:21:12.520> in<00:21:13.120> general<00:21:14.120> uh<00:21:14.360> yeah<00:21:14.520> I<00:21:14.600> think 00:21:14.750 --> 00:21:14.760 align:start position:0% availability in general uh yeah I think 00:21:14.760 --> 00:21:17.190 align:start position:0% availability in general uh yeah I think this<00:21:14.919> is<00:21:15.080> still<00:21:15.279> an<00:21:15.400> open<00:21:15.760> question<00:21:16.320> kind<00:21:16.480> of 00:21:17.190 --> 00:21:17.200 align:start position:0% this is still an open question kind of 00:21:17.200 --> 00:21:20.430 align:start position:0% this is still an open question kind of but<00:21:17.760> uh<00:21:17.880> one<00:21:18.200> example<00:21:18.960> in<00:21:19.440> Vlad<00:21:19.840> has<00:21:20.000> a<00:21:20.320> a 00:21:20.430 --> 00:21:20.440 align:start position:0% but uh one example in Vlad has a a 00:21:20.440 --> 00:21:24.590 align:start position:0% but uh one example in Vlad has a a scheme<00:21:20.720> for<00:21:20.960> proof<00:21:21.200> of<00:21:21.600> existence<00:21:22.600> right<00:21:23.520> uh 00:21:24.590 --> 00:21:24.600 align:start position:0% scheme for proof of existence right uh 00:21:24.600 --> 00:21:29.070 align:start position:0% scheme for proof of existence right uh so<00:21:25.600> we<00:21:25.720> have<00:21:25.919> this<00:21:26.120> data<00:21:26.600> is<00:21:26.760> all<00:21:27.039> merized 00:21:29.070 --> 00:21:29.080 align:start position:0% so we have this data is all merized 00:21:29.080 --> 00:21:32.789 align:start position:0% so we have this data is all merized um<00:21:29.640> so<00:21:30.559> we<00:21:30.799> one<00:21:31.080> one<00:21:31.400> simple<00:21:31.760> scheme<00:21:32.400> right<00:21:32.640> to 00:21:32.789 --> 00:21:32.799 align:start position:0% um so we one one simple scheme right to 00:21:32.799 --> 00:21:34.950 align:start position:0% um so we one one simple scheme right to give<00:21:32.919> you<00:21:33.159> maybe<00:21:33.360> some<00:21:33.600> intuition<00:21:34.120> and<00:21:34.360> how 00:21:34.950 --> 00:21:34.960 align:start position:0% give you maybe some intuition and how 00:21:34.960 --> 00:21:37.669 align:start position:0% give you maybe some intuition and how how<00:21:35.080> we<00:21:35.200> can<00:21:35.320> build<00:21:35.559> more<00:21:35.760> complicated<00:21:36.320> and<00:21:36.799> uh 00:21:37.669 --> 00:21:37.679 align:start position:0% how we can build more complicated and uh 00:21:37.679 --> 00:21:41.350 align:start position:0% how we can build more complicated and uh maybe<00:21:38.679> uh<00:21:39.240> better<00:21:39.480> schemes<00:21:40.000> but<00:21:40.600> uh<00:21:40.799> we<00:21:40.960> have 00:21:41.350 --> 00:21:41.360 align:start position:0% maybe uh better schemes but uh we have 00:21:41.360 --> 00:21:45.230 align:start position:0% maybe uh better schemes but uh we have all<00:21:41.559> this<00:21:41.720> data<00:21:42.400> merized<00:21:43.400> so<00:21:43.679> we<00:21:43.840> can<00:21:44.320> query 00:21:45.230 --> 00:21:45.240 align:start position:0% all this data merized so we can query 00:21:45.240 --> 00:21:46.750 align:start position:0% all this data merized so we can query the<00:21:45.360> noes<00:21:45.760> that<00:21:45.880> are<00:21:46.000> supposed<00:21:46.240> to<00:21:46.320> be<00:21:46.400> storing 00:21:46.750 --> 00:21:46.760 align:start position:0% the noes that are supposed to be storing 00:21:46.760 --> 00:21:49.149 align:start position:0% the noes that are supposed to be storing the<00:21:46.960> state<00:21:47.960> uh<00:21:48.159> and<00:21:48.320> ask<00:21:48.520> them<00:21:48.679> for<00:21:48.840> random 00:21:49.149 --> 00:21:49.159 align:start position:0% the state uh and ask them for random 00:21:49.159 --> 00:21:51.269 align:start position:0% the state uh and ask them for random keys<00:21:49.480> and<00:21:49.679> make<00:21:49.840> sure<00:21:50.279> that<00:21:50.400> we<00:21:50.600> get<00:21:50.840> back<00:21:51.080> a 00:21:51.269 --> 00:21:51.279 align:start position:0% keys and make sure that we get back a 00:21:51.279 --> 00:21:54.710 align:start position:0% keys and make sure that we get back a correct<00:21:51.640> proof<00:21:52.520> right<00:21:52.720> mle<00:21:53.159> proof<00:21:54.120> uh<00:21:54.279> and<00:21:54.480> if 00:21:54.710 --> 00:21:54.720 align:start position:0% correct proof right mle proof uh and if 00:21:54.720 --> 00:21:56.510 align:start position:0% correct proof right mle proof uh and if we<00:21:54.840> don't<00:21:55.120> we<00:21:55.240> could<00:21:55.559> punish<00:21:55.880> them<00:21:56.080> and<00:21:56.279> maybe 00:21:56.510 --> 00:21:56.520 align:start position:0% we don't we could punish them and maybe 00:21:56.520 --> 00:22:01.390 align:start position:0% we don't we could punish them and maybe a<00:21:56.640> slasher<00:21:57.240> that<00:21:57.679> uh<00:21:58.520> um<00:21:59.520> slasher<00:22:00.200> style<00:22:01.200> uh 00:22:01.390 --> 00:22:01.400 align:start position:0% a slasher that uh um slasher style uh 00:22:01.400 --> 00:22:04.990 align:start position:0% a slasher that uh um slasher style uh thing<00:22:01.679> when<00:22:01.799> we<00:22:02.000> take<00:22:02.159> their<00:22:02.640> deposit<00:22:03.720> whatnot 00:22:04.990 --> 00:22:05.000 align:start position:0% thing when we take their deposit whatnot 00:22:05.000 --> 00:22:08.310 align:start position:0% thing when we take their deposit whatnot um<00:22:06.000> so<00:22:06.520> I<00:22:06.600> think<00:22:06.799> that's<00:22:07.279> sort<00:22:07.440> of<00:22:07.679> like<00:22:08.039> the 00:22:08.310 --> 00:22:08.320 align:start position:0% um so I think that's sort of like the 00:22:08.320 --> 00:22:13.190 align:start position:0% um so I think that's sort of like the core<00:22:08.880> of<00:22:09.159> how<00:22:09.919> uh<00:22:10.799> um<00:22:11.159> most<00:22:11.559> data<00:22:12.200> availability 00:22:13.190 --> 00:22:13.200 align:start position:0% core of how uh um most data availability 00:22:13.200 --> 00:22:14.510 align:start position:0% core of how uh um most data availability um 00:22:14.510 --> 00:22:14.520 align:start position:0% um 00:22:14.520 --> 00:22:19.789 align:start position:0% um schemes<00:22:15.520> uh<00:22:16.600> work<00:22:17.600> okay<00:22:18.279> another<00:22:19.279> sorry<00:22:19.600> one 00:22:19.789 --> 00:22:19.799 align:start position:0% schemes uh work okay another sorry one 00:22:19.799 --> 00:22:22.870 align:start position:0% schemes uh work okay another sorry one second<00:22:20.400> it'll<00:22:20.600> turn<00:22:20.760> on<00:22:20.919> in<00:22:21.000> a<00:22:21.159> second<00:22:21.919> okay<00:22:22.600> um 00:22:22.870 --> 00:22:22.880 align:start position:0% second it'll turn on in a second okay um 00:22:22.880 --> 00:22:24.870 align:start position:0% second it'll turn on in a second okay um another<00:22:23.400> another<00:22:24.279> thing<00:22:24.440> that's<00:22:24.640> important 00:22:24.870 --> 00:22:24.880 align:start position:0% another another thing that's important 00:22:24.880 --> 00:22:27.230 align:start position:0% another another thing that's important for<00:22:25.039> data<00:22:25.279> availability<00:22:25.880> checks<00:22:26.440> is<00:22:26.960> uh<00:22:27.120> the 00:22:27.230 --> 00:22:27.240 align:start position:0% for data availability checks is uh the 00:22:27.240 --> 00:22:29.029 align:start position:0% for data availability checks is uh the idea<00:22:27.440> of<00:22:27.559> escalation 00:22:29.029 --> 00:22:29.039 align:start position:0% idea of escalation 00:22:29.039 --> 00:22:32.149 align:start position:0% idea of escalation where<00:22:30.039> uh<00:22:30.279> if<00:22:30.559> some<00:22:30.799> nodes<00:22:31.200> claim<00:22:31.520> the<00:22:31.679> data<00:22:32.000> is 00:22:32.149 --> 00:22:32.159 align:start position:0% where uh if some nodes claim the data is 00:22:32.159 --> 00:22:34.110 align:start position:0% where uh if some nodes claim the data is available<00:22:32.960> and<00:22:33.120> produce<00:22:33.480> proofs<00:22:33.799> and<00:22:33.919> other 00:22:34.110 --> 00:22:34.120 align:start position:0% available and produce proofs and other 00:22:34.120 --> 00:22:36.350 align:start position:0% available and produce proofs and other nodes<00:22:34.600> claim<00:22:34.880> that<00:22:35.120> oh<00:22:35.559> you<00:22:35.640> know<00:22:35.799> I<00:22:36.000> actually 00:22:36.350 --> 00:22:36.360 align:start position:0% nodes claim that oh you know I actually 00:22:36.360 --> 00:22:38.870 align:start position:0% nodes claim that oh you know I actually can't<00:22:36.600> download<00:22:37.000> this<00:22:37.200> data<00:22:38.200> um<00:22:38.559> that's<00:22:38.679> why<00:22:38.799> I 00:22:38.870 --> 00:22:38.880 align:start position:0% can't download this data um that's why I 00:22:38.880 --> 00:22:42.750 align:start position:0% can't download this data um that's why I can't<00:22:39.039> produce<00:22:39.840> proofs<00:22:40.840> um<00:22:41.840> so<00:22:42.279> the<00:22:42.360> noes<00:22:42.559> who 00:22:42.750 --> 00:22:42.760 align:start position:0% can't produce proofs um so the noes who 00:22:42.760 --> 00:22:44.230 align:start position:0% can't produce proofs um so the noes who can't<00:22:43.120> can't<00:22:43.320> download<00:22:43.640> the<00:22:43.760> data<00:22:44.000> would 00:22:44.230 --> 00:22:44.240 align:start position:0% can't can't download the data would 00:22:44.240 --> 00:22:46.470 align:start position:0% can't can't download the data would basically<00:22:44.520> Sound<00:22:44.840> the<00:22:44.960> Alarm<00:22:45.799> causing<00:22:46.200> more 00:22:46.470 --> 00:22:46.480 align:start position:0% basically Sound the Alarm causing more 00:22:46.480 --> 00:22:48.870 align:start position:0% basically Sound the Alarm causing more nodes<00:22:46.919> to<00:22:47.080> attempt<00:22:47.360> to<00:22:47.480> download<00:22:47.840> the<00:22:48.000> data 00:22:48.870 --> 00:22:48.880 align:start position:0% nodes to attempt to download the data 00:22:48.880 --> 00:22:50.710 align:start position:0% nodes to attempt to download the data and<00:22:49.000> then<00:22:49.200> if<00:22:49.360> there's<00:22:49.640> still<00:22:50.000> disagreement 00:22:50.710 --> 00:22:50.720 align:start position:0% and then if there's still disagreement 00:22:50.720 --> 00:22:52.230 align:start position:0% and then if there's still disagreement about<00:22:50.960> whether<00:22:51.200> the<00:22:51.320> data<00:22:51.520> is<00:22:51.679> available<00:22:52.159> we 00:22:52.230 --> 00:22:52.240 align:start position:0% about whether the data is available we 00:22:52.240 --> 00:22:55.350 align:start position:0% about whether the data is available we can<00:22:52.360> escalate<00:22:52.880> further<00:22:53.880> uh<00:22:54.120> and<00:22:54.360> until<00:22:55.039> we<00:22:55.200> get 00:22:55.350 --> 00:22:55.360 align:start position:0% can escalate further uh and until we get 00:22:55.360 --> 00:22:59.830 align:start position:0% can escalate further uh and until we get to<00:22:55.960> basically<00:22:56.960> all<00:22:57.279> or<00:22:58.080> a<00:22:58.240> very<00:22:58.520> very<00:22:58.840> large 00:22:59.830 --> 00:22:59.840 align:start position:0% to basically all or a very very large 00:22:59.840 --> 00:23:02.350 align:start position:0% to basically all or a very very large portion<00:23:00.120> of<00:23:00.240> the<00:23:00.360> nodes<00:23:01.320> trying<00:23:01.679> to<00:23:01.919> download 00:23:02.350 --> 00:23:02.360 align:start position:0% portion of the nodes trying to download 00:23:02.360 --> 00:23:04.510 align:start position:0% portion of the nodes trying to download this<00:23:02.679> block<00:23:03.039> which<00:23:03.200> may<00:23:03.400> or<00:23:03.720> may<00:23:03.880> not<00:23:04.120> be 00:23:04.510 --> 00:23:04.520 align:start position:0% this block which may or may not be 00:23:04.520 --> 00:23:05.789 align:start position:0% this block which may or may not be actually<00:23:05.000> actually<00:23:05.200> have<00:23:05.320> been<00:23:05.480> published 00:23:05.789 --> 00:23:05.799 align:start position:0% actually actually have been published 00:23:05.799 --> 00:23:10.470 align:start position:0% actually actually have been published Beyond<00:23:06.159> like<00:23:06.279> some<00:23:06.440> attackers<00:23:07.640> nodes<00:23:08.640> um<00:23:09.559> and 00:23:10.470 --> 00:23:10.480 align:start position:0% Beyond like some attackers nodes um and 00:23:10.480 --> 00:23:11.549 align:start position:0% Beyond like some attackers nodes um and and<00:23:10.600> then<00:23:10.799> and<00:23:10.880> then<00:23:11.000> we<00:23:11.120> would<00:23:11.279> have<00:23:11.400> to 00:23:11.549 --> 00:23:11.559 align:start position:0% and then and then we would have to 00:23:11.559 --> 00:23:13.430 align:start position:0% and then and then we would have to resolve<00:23:11.919> in<00:23:12.039> the<00:23:12.120> end<00:23:12.520> with<00:23:13.000> what<00:23:13.120> we<00:23:13.240> call 00:23:13.430 --> 00:23:13.440 align:start position:0% resolve in the end with what we call 00:23:13.440 --> 00:23:16.269 align:start position:0% resolve in the end with what we call subjectivity<00:23:14.120> where<00:23:14.320> basically<00:23:15.039> NOS<00:23:15.679> go<00:23:16.000> with 00:23:16.269 --> 00:23:16.279 align:start position:0% subjectivity where basically NOS go with 00:23:16.279 --> 00:23:17.830 align:start position:0% subjectivity where basically NOS go with whether<00:23:16.520> or<00:23:16.679> not<00:23:16.960> they<00:23:17.120> personally<00:23:17.480> were<00:23:17.640> able 00:23:17.830 --> 00:23:17.840 align:start position:0% whether or not they personally were able 00:23:17.840 --> 00:23:20.190 align:start position:0% whether or not they personally were able to<00:23:18.000> access<00:23:18.320> that<00:23:18.480> block<00:23:19.000> as<00:23:19.159> opposed<00:23:19.480> to<00:23:20.080> uh 00:23:20.190 --> 00:23:20.200 align:start position:0% to access that block as opposed to uh 00:23:20.200 --> 00:23:22.750 align:start position:0% to access that block as opposed to uh with<00:23:20.320> the<00:23:20.440> result<00:23:20.679> of<00:23:20.840> voting<00:23:21.679> because<00:23:22.360> voting 00:23:22.750 --> 00:23:22.760 align:start position:0% with the result of voting because voting 00:23:22.760 --> 00:23:26.350 align:start position:0% with the result of voting because voting alone<00:23:23.400> can't<00:23:24.039> really<00:23:24.400> resolve<00:23:24.919> this<00:23:25.360> question 00:23:26.350 --> 00:23:26.360 align:start position:0% alone can't really resolve this question 00:23:26.360 --> 00:23:28.390 align:start position:0% alone can't really resolve this question uh<00:23:26.600> in<00:23:26.760> an<00:23:26.960> environment<00:23:27.520> where<00:23:28.000> an<00:23:28.240> an 00:23:28.390 --> 00:23:28.400 align:start position:0% uh in an environment where an an 00:23:28.400 --> 00:23:30.470 align:start position:0% uh in an environment where an an adversary<00:23:28.960> might<00:23:29.400> control<00:23:30.039> very<00:23:30.200> large 00:23:30.470 --> 00:23:30.480 align:start position:0% adversary might control very large 00:23:30.480 --> 00:23:32.549 align:start position:0% adversary might control very large proportion<00:23:30.840> of<00:23:31.200> of<00:23:31.320> the<00:23:31.400> notes<00:23:32.000> who's<00:23:32.240> voting 00:23:32.549 --> 00:23:32.559 align:start position:0% proportion of of the notes who's voting 00:23:32.559 --> 00:23:34.549 align:start position:0% proportion of of the notes who's voting are<00:23:32.720> the<00:23:32.880> validators<00:23:33.480> voting<00:23:34.279> yeah<00:23:34.440> the 00:23:34.549 --> 00:23:34.559 align:start position:0% are the validators voting yeah the 00:23:34.559 --> 00:23:36.269 align:start position:0% are the validators voting yeah the validators<00:23:35.000> are<00:23:35.159> basically<00:23:35.720> saying<00:23:36.120> whether 00:23:36.269 --> 00:23:36.279 align:start position:0% validators are basically saying whether 00:23:36.279 --> 00:23:38.310 align:start position:0% validators are basically saying whether or<00:23:36.400> not<00:23:36.559> they're<00:23:36.840> able<00:23:37.120> to<00:23:37.720> uh<00:23:37.840> download<00:23:38.200> this 00:23:38.310 --> 00:23:38.320 align:start position:0% or not they're able to uh download this 00:23:38.320 --> 00:23:40.510 align:start position:0% or not they're able to uh download this block<00:23:39.200> which<00:23:39.320> some<00:23:39.480> validators<00:23:39.840> are<00:23:39.960> claiming 00:23:40.510 --> 00:23:40.520 align:start position:0% block which some validators are claiming 00:23:40.520 --> 00:23:42.750 align:start position:0% block which some validators are claiming is<00:23:40.640> not<00:23:40.840> available<00:23:41.840> right<00:23:42.000> so<00:23:42.360> the<00:23:42.440> important 00:23:42.750 --> 00:23:42.760 align:start position:0% is not available right so the important 00:23:42.760 --> 00:23:44.510 align:start position:0% is not available right so the important part<00:23:42.960> there<00:23:43.080> is<00:23:43.279> like<00:23:43.679> uh<00:23:44.039> the<00:23:44.200> the<00:23:44.279> people 00:23:44.510 --> 00:23:44.520 align:start position:0% part there is like uh the the people 00:23:44.520 --> 00:23:47.909 align:start position:0% part there is like uh the the people voting<00:23:45.039> have<00:23:45.279> stake<00:23:46.039> so<00:23:46.840> like<00:23:47.039> it's<00:23:47.240> not<00:23:47.520> just 00:23:47.909 --> 00:23:47.919 align:start position:0% voting have stake so like it's not just 00:23:47.919 --> 00:23:52.190 align:start position:0% voting have stake so like it's not just anyone<00:23:48.919> um<00:23:49.600> but<00:23:50.159> also<00:23:50.440> sort<00:23:50.640> of<00:23:50.760> a<00:23:50.919> fun<00:23:51.400> a<00:23:51.520> fun 00:23:52.190 --> 00:23:52.200 align:start position:0% anyone um but also sort of a fun a fun 00:23:52.200 --> 00:23:54.870 align:start position:0% anyone um but also sort of a fun a fun uh<00:23:52.400> attribute<00:23:53.240> to<00:23:53.480> this<00:23:53.640> protocol<00:23:54.240> is<00:23:54.480> that 00:23:54.870 --> 00:23:54.880 align:start position:0% uh attribute to this protocol is that 00:23:54.880 --> 00:23:59.070 align:start position:0% uh attribute to this protocol is that like<00:23:55.760> the<00:23:56.000> if<00:23:56.279> you<00:23:56.840> see<00:23:57.320> that<00:23:57.600> some<00:23:58.080> dad<00:23:58.480> bad 00:23:59.070 --> 00:23:59.080 align:start position:0% like the if you see that some dad bad 00:23:59.080 --> 00:24:03.149 align:start position:0% like the if you see that some dad bad data<00:24:00.240> uh<00:24:01.240> if<00:24:01.360> you<00:24:01.520> see<00:24:01.960> that<00:24:02.159> someone's<00:24:02.919> making 00:24:03.149 --> 00:24:03.159 align:start position:0% data uh if you see that someone's making 00:24:03.159 --> 00:24:06.590 align:start position:0% data uh if you see that someone's making a<00:24:03.360> bad<00:24:03.600> claim<00:24:04.360> and<00:24:04.480> you<00:24:04.679> counter<00:24:05.080> it<00:24:05.799> uh<00:24:06.440> you 00:24:06.590 --> 00:24:06.600 align:start position:0% a bad claim and you counter it uh you 00:24:06.600 --> 00:24:08.990 align:start position:0% a bad claim and you counter it uh you would<00:24:06.760> get<00:24:06.919> some<00:24:07.200> reward<00:24:07.720> so<00:24:08.080> like<00:24:08.320> this<00:24:08.480> all 00:24:08.990 --> 00:24:09.000 align:start position:0% would get some reward so like this all 00:24:09.000 --> 00:24:09.990 align:start position:0% would get some reward so like this all has 00:24:09.990 --> 00:24:10.000 align:start position:0% has 00:24:10.000 --> 00:24:14.190 align:start position:0% has incentives<00:24:11.000> um<00:24:11.279> to<00:24:11.480> work<00:24:11.679> out<00:24:12.279> hopefully 00:24:14.190 --> 00:24:14.200 align:start position:0% incentives um to work out hopefully 00:24:14.200 --> 00:24:18.070 align:start position:0% incentives um to work out hopefully right<00:24:15.200> so<00:24:15.840> one<00:24:16.159> particularly<00:24:16.720> useful<00:24:17.120> tool<00:24:17.799> in 00:24:18.070 --> 00:24:18.080 align:start position:0% right so one particularly useful tool in 00:24:18.080 --> 00:24:22.149 align:start position:0% right so one particularly useful tool in the<00:24:18.520> um<00:24:19.039> in<00:24:19.240> the<00:24:19.840> in<00:24:20.000> pursuing<00:24:20.600> scalability<00:24:21.600> um 00:24:22.149 --> 00:24:22.159 align:start position:0% the um in the in pursuing scalability um 00:24:22.159 --> 00:24:24.269 align:start position:0% the um in the in pursuing scalability um seems<00:24:22.440> to<00:24:22.559> be<00:24:22.799> a<00:24:22.960> cryptographically<00:24:23.760> pseudo 00:24:24.269 --> 00:24:24.279 align:start position:0% seems to be a cryptographically pseudo 00:24:24.279 --> 00:24:28.470 align:start position:0% seems to be a cryptographically pseudo random<00:24:25.200> sampling<00:24:26.200> in<00:24:26.320> order<00:24:26.600> to<00:24:27.200> select<00:24:28.080> some 00:24:28.470 --> 00:24:28.480 align:start position:0% random sampling in order to select some 00:24:28.480 --> 00:24:32.630 align:start position:0% random sampling in order to select some nodes<00:24:29.480> um<00:24:29.720> ahead<00:24:29.919> of<00:24:30.120> time<00:24:30.320> to<00:24:30.840> determine 00:24:32.630 --> 00:24:32.640 align:start position:0% nodes um ahead of time to determine 00:24:32.640 --> 00:24:36.389 align:start position:0% nodes um ahead of time to determine um<00:24:33.640> uh<00:24:34.520> what<00:24:34.919> precise<00:24:35.440> what<00:24:35.679> precise<00:24:36.120> role 00:24:36.389 --> 00:24:36.399 align:start position:0% um uh what precise what precise role 00:24:36.399 --> 00:24:38.909 align:start position:0% um uh what precise what precise role they<00:24:36.520> will<00:24:36.799> play<00:24:37.600> in<00:24:38.080> the<00:24:38.559> uh<00:24:38.679> in<00:24:38.760> the 00:24:38.909 --> 00:24:38.919 align:start position:0% they will play in the uh in the 00:24:38.919 --> 00:24:41.389 align:start position:0% they will play in the uh in the consensus<00:24:39.520> algorithm<00:24:40.520> um<00:24:40.760> Dominic<00:24:41.159> would<00:24:41.279> you 00:24:41.389 --> 00:24:41.399 align:start position:0% consensus algorithm um Dominic would you 00:24:41.399 --> 00:24:45.190 align:start position:0% consensus algorithm um Dominic would you like<00:24:41.559> to<00:24:42.120> comment<00:24:42.399> on<00:24:42.679> that<00:24:43.679> yeah<00:24:43.880> sure<00:24:44.159> so<00:24:44.720> um 00:24:45.190 --> 00:24:45.200 align:start position:0% like to comment on that yeah sure so um 00:24:45.200 --> 00:24:48.029 align:start position:0% like to comment on that yeah sure so um I<00:24:45.399> I<00:24:45.520> think<00:24:46.120> um<00:24:46.799> we're<00:24:46.919> going<00:24:47.000> to<00:24:47.120> see<00:24:47.399> that 00:24:48.029 --> 00:24:48.039 align:start position:0% I I think um we're going to see that 00:24:48.039 --> 00:24:50.590 align:start position:0% I I think um we're going to see that Randomness<00:24:48.720> is<00:24:49.120> really<00:24:49.360> the<00:24:49.559> tool<00:24:49.960> that<00:24:50.200> s 00:24:50.590 --> 00:24:50.600 align:start position:0% Randomness is really the tool that s 00:24:50.600 --> 00:24:53.750 align:start position:0% Randomness is really the tool that s solves<00:24:51.000> all<00:24:51.120> of<00:24:51.279> these<00:24:51.480> big<00:24:52.120> uh<00:24:52.760> scalability 00:24:53.750 --> 00:24:53.760 align:start position:0% solves all of these big uh scalability 00:24:53.760 --> 00:24:58.510 align:start position:0% solves all of these big uh scalability um<00:24:54.760> challenges<00:24:55.840> um<00:24:56.840> so<00:24:57.600> uh 00:24:58.510 --> 00:24:58.520 align:start position:0% um challenges um so uh 00:24:58.520 --> 00:24:59.510 align:start position:0% um challenges um so uh at<00:24:58.640> least<00:24:58.799> in<00:24:58.880> the<00:24:58.960> systems<00:24:59.279> I've<00:24:59.399> been 00:24:59.510 --> 00:24:59.520 align:start position:0% at least in the systems I've been 00:24:59.520 --> 00:25:02.470 align:start position:0% at least in the systems I've been playing<00:24:59.840> with<00:25:00.360> uh<00:25:00.480> you<00:25:00.600> have<00:25:00.960> a<00:25:01.960> top<00:25:02.240> level 00:25:02.470 --> 00:25:02.480 align:start position:0% playing with uh you have a top level 00:25:02.480 --> 00:25:04.950 align:start position:0% playing with uh you have a top level chain<00:25:03.200> that<00:25:03.360> not<00:25:03.520> only<00:25:03.960> records<00:25:04.440> consensus 00:25:04.950 --> 00:25:04.960 align:start position:0% chain that not only records consensus 00:25:04.960 --> 00:25:06.549 align:start position:0% chain that not only records consensus but<00:25:05.120> also<00:25:05.320> generates<00:25:05.760> a<00:25:05.880> kind<00:25:06.000> of<00:25:06.159> random 00:25:06.549 --> 00:25:06.559 align:start position:0% but also generates a kind of random 00:25:06.559 --> 00:25:09.350 align:start position:0% but also generates a kind of random heartbeat<00:25:07.559> and<00:25:07.720> that<00:25:07.919> random<00:25:08.240> heartbeat<00:25:09.200> can 00:25:09.350 --> 00:25:09.360 align:start position:0% heartbeat and that random heartbeat can 00:25:09.360 --> 00:25:12.350 align:start position:0% heartbeat and that random heartbeat can be<00:25:09.480> used<00:25:09.799> to<00:25:10.679> drive<00:25:11.240> the<00:25:11.399> organization<00:25:12.080> of<00:25:12.200> The 00:25:12.350 --> 00:25:12.360 align:start position:0% be used to drive the organization of The 00:25:12.360 --> 00:25:14.510 align:start position:0% be used to drive the organization of The Wider<00:25:12.720> Network<00:25:13.480> right<00:25:13.640> it<00:25:13.799> turns<00:25:14.039> out<00:25:14.240> that's 00:25:14.510 --> 00:25:14.520 align:start position:0% Wider Network right it turns out that's 00:25:14.520 --> 00:25:17.269 align:start position:0% Wider Network right it turns out that's very<00:25:14.760> powerful<00:25:15.240> so<00:25:16.159> just<00:25:16.360> circling<00:25:16.840> back<00:25:17.000> to 00:25:17.269 --> 00:25:17.279 align:start position:0% very powerful so just circling back to 00:25:17.279 --> 00:25:20.110 align:start position:0% very powerful so just circling back to this<00:25:17.640> validation<00:25:18.360> problem<00:25:18.760> there<00:25:18.919> was<00:25:19.600> U 00:25:20.110 --> 00:25:20.120 align:start position:0% this validation problem there was U 00:25:20.120 --> 00:25:23.750 align:start position:0% this validation problem there was U constructs<00:25:21.120> um<00:25:22.080> came<00:25:22.240> up<00:25:22.399> with<00:25:23.240> a<00:25:23.360> year<00:25:23.520> ago 00:25:23.750 --> 00:25:23.760 align:start position:0% constructs um came up with a year ago 00:25:23.760 --> 00:25:25.789 align:start position:0% constructs um came up with a year ago called<00:25:24.000> validation<00:25:24.520> Tas<00:25:25.320> which<00:25:25.440> is<00:25:25.600> very 00:25:25.789 --> 00:25:25.799 align:start position:0% called validation Tas which is very 00:25:25.799 --> 00:25:28.389 align:start position:0% called validation Tas which is very similar<00:25:26.120> to<00:25:26.679> the<00:25:27.200> um 00:25:28.389 --> 00:25:28.399 align:start position:0% similar to the um 00:25:28.399 --> 00:25:30.470 align:start position:0% similar to the um system<00:25:28.720> these<00:25:28.880> guys<00:25:29.039> have<00:25:29.159> been<00:25:29.320> working<00:25:29.600> with 00:25:30.470 --> 00:25:30.480 align:start position:0% system these guys have been working with 00:25:30.480 --> 00:25:33.510 align:start position:0% system these guys have been working with and<00:25:31.480> uh<00:25:31.720> it<00:25:31.840> works<00:25:32.159> something<00:25:32.480> like<00:25:32.720> this<00:25:33.279> um 00:25:33.510 --> 00:25:33.520 align:start position:0% and uh it works something like this um 00:25:33.520 --> 00:25:36.070 align:start position:0% and uh it works something like this um let's<00:25:33.720> say<00:25:33.880> you've<00:25:34.080> got<00:25:34.240> a<00:25:34.880> storage<00:25:35.880> State 00:25:36.070 --> 00:25:36.080 align:start position:0% let's say you've got a storage State 00:25:36.080 --> 00:25:39.070 align:start position:0% let's say you've got a storage State Storage<00:25:36.480> shod<00:25:37.200> and<00:25:37.520> it<00:25:37.760> has<00:25:37.880> a<00:25:38.520> transaction 00:25:39.070 --> 00:25:39.080 align:start position:0% Storage shod and it has a transaction 00:25:39.080 --> 00:25:41.510 align:start position:0% Storage shod and it has a transaction come<00:25:39.279> in<00:25:39.480> that<00:25:39.640> transitions<00:25:40.320> that<00:25:40.640> state<00:25:41.399> it 00:25:41.510 --> 00:25:41.520 align:start position:0% come in that transitions that state it 00:25:41.520 --> 00:25:45.190 align:start position:0% come in that transitions that state it needs<00:25:41.720> to<00:25:41.840> be<00:25:42.000> validated<00:25:42.919> and<00:25:43.559> that<00:25:44.240> Val<00:25:44.640> that 00:25:45.190 --> 00:25:45.200 align:start position:0% needs to be validated and that Val that 00:25:45.200 --> 00:25:47.190 align:start position:0% needs to be validated and that Val that transition<00:25:46.200> will<00:25:46.360> be<00:25:46.559> mapped<00:25:46.880> to<00:25:47.039> what's 00:25:47.190 --> 00:25:47.200 align:start position:0% transition will be mapped to what's 00:25:47.200 --> 00:25:49.510 align:start position:0% transition will be mapped to what's known<00:25:47.399> as<00:25:47.520> a<00:25:47.840> a<00:25:48.000> validation<00:25:48.520> tar<00:25:49.240> and<00:25:49.360> a 00:25:49.510 --> 00:25:49.520 align:start position:0% known as a a validation tar and a 00:25:49.520 --> 00:25:52.510 align:start position:0% known as a a validation tar and a validation<00:25:50.039> tar<00:25:50.960> is<00:25:51.799> bit<00:25:52.000> like<00:25:52.080> a<00:25:52.240> kind<00:25:52.360> of 00:25:52.510 --> 00:25:52.520 align:start position:0% validation tar is bit like a kind of 00:25:52.520 --> 00:25:55.909 align:start position:0% validation tar is bit like a kind of chain<00:25:52.919> that<00:25:53.080> grows<00:25:54.039> each<00:25:54.399> successive<00:25:55.360> level 00:25:55.909 --> 00:25:55.919 align:start position:0% chain that grows each successive level 00:25:55.919 --> 00:25:58.310 align:start position:0% chain that grows each successive level on<00:25:56.080> it<00:25:56.360> is<00:25:56.600> built<00:25:56.919> by<00:25:57.039> a<00:25:57.159> randomly 00:25:58.310 --> 00:25:58.320 align:start position:0% on it is built by a randomly 00:25:58.320 --> 00:26:02.350 align:start position:0% on it is built by a randomly selected<00:25:59.320> set<00:25:59.880> of<00:26:00.880> uh<00:26:01.080> nodes<00:26:01.919> and<00:26:02.039> this<00:26:02.120> can<00:26:02.279> be 00:26:02.350 --> 00:26:02.360 align:start position:0% selected set of uh nodes and this can be 00:26:02.360 --> 00:26:05.149 align:start position:0% selected set of uh nodes and this can be a<00:26:02.480> very<00:26:02.600> small<00:26:02.840> set<00:26:03.000> of<00:26:03.120> nodes<00:26:04.120> for<00:26:04.320> example 00:26:05.149 --> 00:26:05.159 align:start position:0% a very small set of nodes for example 00:26:05.159 --> 00:26:08.149 align:start position:0% a very small set of nodes for example five<00:26:06.159> you<00:26:06.279> know<00:26:06.480> five<00:26:06.799> five<00:26:07.000> processes<00:26:07.480> in<00:26:07.640> the 00:26:08.149 --> 00:26:08.159 align:start position:0% five you know five five processes in the 00:26:08.159 --> 00:26:11.430 align:start position:0% five you know five five processes in the in<00:26:08.240> the<00:26:08.440> network<00:26:09.440> and<00:26:10.279> those<00:26:10.640> five<00:26:10.919> processes 00:26:11.430 --> 00:26:11.440 align:start position:0% in the network and those five processes 00:26:11.440 --> 00:26:12.950 align:start position:0% in the network and those five processes will<00:26:11.600> be<00:26:11.799> past<00:26:12.080> the<00:26:12.200> transaction<00:26:12.679> and<00:26:12.799> any 00:26:12.950 --> 00:26:12.960 align:start position:0% will be past the transaction and any 00:26:12.960 --> 00:26:14.990 align:start position:0% will be past the transaction and any other<00:26:13.159> transactions<00:26:13.679> map<00:26:13.919> to<00:26:14.039> that<00:26:14.240> Tower 00:26:14.990 --> 00:26:15.000 align:start position:0% other transactions map to that Tower 00:26:15.000 --> 00:26:16.950 align:start position:0% other transactions map to that Tower they<00:26:15.159> have<00:26:15.279> to<00:26:15.440> build<00:26:15.640> a<00:26:15.799> level<00:26:16.200> that 00:26:16.950 --> 00:26:16.960 align:start position:0% they have to build a level that 00:26:16.960 --> 00:26:20.190 align:start position:0% they have to build a level that validates<00:26:17.679> that<00:26:17.880> those<00:26:18.120> transitions<00:26:19.200> are 00:26:20.190 --> 00:26:20.200 align:start position:0% validates that those transitions are 00:26:20.200 --> 00:26:22.510 align:start position:0% validates that those transitions are okay<00:26:20.799> but<00:26:20.960> in<00:26:21.120> addition<00:26:21.399> to<00:26:21.640> that<00:26:21.960> they<00:26:22.159> also 00:26:22.510 --> 00:26:22.520 align:start position:0% okay but in addition to that they also 00:26:22.520 --> 00:26:25.230 align:start position:0% okay but in addition to that they also have<00:26:22.679> to<00:26:23.120> validate<00:26:24.000> some<00:26:24.240> number<00:26:24.440> of<00:26:24.600> levels 00:26:25.230 --> 00:26:25.240 align:start position:0% have to validate some number of levels 00:26:25.240 --> 00:26:28.110 align:start position:0% have to validate some number of levels below<00:26:25.600> them<00:26:26.279> so<00:26:26.520> for<00:26:26.720> example<00:26:27.120> let's<00:26:27.360> say 00:26:28.110 --> 00:26:28.120 align:start position:0% below them so for example let's say 00:26:28.120 --> 00:26:30.950 align:start position:0% below them so for example let's say they<00:26:28.279> have<00:26:28.440> to<00:26:29.200> validate<00:26:29.720> nine<00:26:30.080> levels 00:26:30.950 --> 00:26:30.960 align:start position:0% they have to validate nine levels 00:26:30.960 --> 00:26:34.590 align:start position:0% they have to validate nine levels beneath<00:26:31.360> them<00:26:32.120> okay<00:26:33.080> and<00:26:33.279> let's<00:26:33.520> say<00:26:33.919> that 00:26:34.590 --> 00:26:34.600 align:start position:0% beneath them okay and let's say that 00:26:34.600 --> 00:26:36.350 align:start position:0% beneath them okay and let's say that data<00:26:34.919> has<00:26:35.159> passed<00:26:35.480> through<00:26:35.720> the<00:26:35.840> validation 00:26:36.350 --> 00:26:36.360 align:start position:0% data has passed through the validation 00:26:36.360 --> 00:26:39.870 align:start position:0% data has passed through the validation tab<00:26:36.799> when<00:26:36.919> it's<00:26:37.640> being<00:26:38.279> validated<00:26:39.279> by<00:26:39.559> 10 00:26:39.870 --> 00:26:39.880 align:start position:0% tab when it's being validated by 10 00:26:39.880 --> 00:26:43.990 align:start position:0% tab when it's being validated by 10 different<00:26:40.520> levels<00:26:41.559> now<00:26:42.559> the<00:26:42.840> trick<00:26:43.159> is<00:26:43.840> that 00:26:43.990 --> 00:26:44.000 align:start position:0% different levels now the trick is that 00:26:44.000 --> 00:26:46.789 align:start position:0% different levels now the trick is that we<00:26:44.320> say<00:26:45.320> those<00:26:45.799> those<00:26:46.000> nodes<00:26:46.399> that<00:26:46.480> have<00:26:46.640> been 00:26:46.789 --> 00:26:46.799 align:start position:0% we say those those nodes that have been 00:26:46.799 --> 00:26:49.909 align:start position:0% we say those those nodes that have been selected<00:26:47.360> to<00:26:47.880> build<00:26:48.120> a<00:26:48.279> new<00:26:48.440> level<00:26:48.720> in<00:26:48.919> the<00:26:49.399> uh 00:26:49.909 --> 00:26:49.919 align:start position:0% selected to build a new level in the uh 00:26:49.919 --> 00:26:52.710 align:start position:0% selected to build a new level in the uh validation<00:26:50.520> Tower<00:26:51.000> become 00:26:52.710 --> 00:26:52.720 align:start position:0% validation Tower become 00:26:52.720 --> 00:26:55.990 align:start position:0% validation Tower become inactive<00:26:53.720> okay<00:26:54.360> until<00:26:54.720> the<00:26:54.919> level<00:26:55.720> that 00:26:55.990 --> 00:26:56.000 align:start position:0% inactive okay until the level that 00:26:56.000 --> 00:26:59.310 align:start position:0% inactive okay until the level that they've<00:26:56.679> created<00:26:57.679> has<00:26:57.840> been<00:26:58.159> buried<00:26:59.159> this 00:26:59.310 --> 00:26:59.320 align:start position:0% they've created has been buried this 00:26:59.320 --> 00:27:02.750 align:start position:0% they've created has been buried this number<00:26:59.919> deep<00:27:00.919> okay<00:27:01.760> so<00:27:02.120> they<00:27:02.320> they<00:27:02.480> become 00:27:02.750 --> 00:27:02.760 align:start position:0% number deep okay so they they become 00:27:02.760 --> 00:27:05.149 align:start position:0% number deep okay so they they become economically<00:27:03.240> inactive<00:27:03.720> so<00:27:03.880> if<00:27:03.960> an<00:27:04.159> adversary 00:27:05.149 --> 00:27:05.159 align:start position:0% economically inactive so if an adversary 00:27:05.159 --> 00:27:07.430 align:start position:0% economically inactive so if an adversary controlled<00:27:05.720> that<00:27:05.960> group<00:27:06.279> and<00:27:06.600> created<00:27:07.039> a<00:27:07.159> bad 00:27:07.430 --> 00:27:07.440 align:start position:0% controlled that group and created a bad 00:27:07.440 --> 00:27:09.710 align:start position:0% controlled that group and created a bad level<00:27:08.120> that<00:27:08.320> validated<00:27:08.919> data<00:27:09.240> that<00:27:09.399> nobody 00:27:09.710 --> 00:27:09.720 align:start position:0% level that validated data that nobody 00:27:09.720 --> 00:27:11.750 align:start position:0% level that validated data that nobody else<00:27:09.919> would<00:27:10.159> validate<00:27:11.080> he<00:27:11.200> could<00:27:11.399> become 00:27:11.750 --> 00:27:11.760 align:start position:0% else would validate he could become 00:27:11.760 --> 00:27:14.750 align:start position:0% else would validate he could become stuck<00:27:12.480> now<00:27:12.640> of<00:27:12.760> course<00:27:12.960> the<00:27:13.480> adversary<00:27:14.480> would 00:27:14.750 --> 00:27:14.760 align:start position:0% stuck now of course the adversary would 00:27:14.760 --> 00:27:18.350 align:start position:0% stuck now of course the adversary would like<00:27:15.320> you<00:27:15.440> know<00:27:15.679> to<00:27:15.880> be<00:27:16.080> able<00:27:16.399> to<00:27:17.279> have<00:27:18.279> you 00:27:18.350 --> 00:27:18.360 align:start position:0% like you know to be able to have you 00:27:18.360 --> 00:27:20.470 align:start position:0% like you know to be able to have you know<00:27:18.520> his<00:27:18.640> nod<00:27:19.000> selected<00:27:19.679> to<00:27:19.840> build<00:27:20.159> let's<00:27:20.320> say 00:27:20.470 --> 00:27:20.480 align:start position:0% know his nod selected to build let's say 00:27:20.480 --> 00:27:23.269 align:start position:0% know his nod selected to build let's say the<00:27:20.559> next<00:27:20.760> 10<00:27:21.000> levels<00:27:21.679> right<00:27:22.679> but<00:27:22.840> of<00:27:23.000> course 00:27:23.269 --> 00:27:23.279 align:start position:0% the next 10 levels right but of course 00:27:23.279 --> 00:27:25.909 align:start position:0% the next 10 levels right but of course the<00:27:23.480> selection<00:27:23.960> of<00:27:24.240> the<00:27:24.799> nodes<00:27:25.360> that<00:27:25.559> build 00:27:25.909 --> 00:27:25.919 align:start position:0% the selection of the nodes that build 00:27:25.919 --> 00:27:28.470 align:start position:0% the selection of the nodes that build each<00:27:26.480> level<00:27:27.320> right 00:27:28.470 --> 00:27:28.480 align:start position:0% each level right 00:27:28.480 --> 00:27:31.190 align:start position:0% each level right is<00:27:28.760> determined<00:27:29.320> by<00:27:29.440> the<00:27:29.600> random<00:27:30.200> heartbeat 00:27:31.190 --> 00:27:31.200 align:start position:0% is determined by the random heartbeat 00:27:31.200 --> 00:27:34.870 align:start position:0% is determined by the random heartbeat and<00:27:31.399> this<00:27:31.600> Tower<00:27:32.200> grows<00:27:33.200> in<00:27:33.360> lock<00:27:33.799> step<00:27:34.720> with 00:27:34.870 --> 00:27:34.880 align:start position:0% and this Tower grows in lock step with 00:27:34.880 --> 00:27:37.029 align:start position:0% and this Tower grows in lock step with the<00:27:35.000> random<00:27:35.320> heartbeat<00:27:36.240> and<00:27:36.360> if<00:27:36.440> a<00:27:36.600> level<00:27:36.840> is 00:27:37.029 --> 00:27:37.039 align:start position:0% the random heartbeat and if a level is 00:27:37.039 --> 00:27:40.549 align:start position:0% the random heartbeat and if a level is ever<00:27:37.320> ever<00:27:37.679> missed<00:27:38.679> then<00:27:39.480> the<00:27:39.880> validation 00:27:40.549 --> 00:27:40.559 align:start position:0% ever ever missed then the validation 00:27:40.559 --> 00:27:43.430 align:start position:0% ever ever missed then the validation required<00:27:41.039> of<00:27:41.200> all<00:27:41.720> remaining<00:27:42.120> levels<00:27:43.120> um<00:27:43.320> that 00:27:43.430 --> 00:27:43.440 align:start position:0% required of all remaining levels um that 00:27:43.440 --> 00:27:45.350 align:start position:0% required of all remaining levels um that aren't<00:27:43.760> valid<00:27:44.120> validated<00:27:44.679> resets<00:27:45.120> to<00:27:45.240> the 00:27:45.350 --> 00:27:45.360 align:start position:0% aren't valid validated resets to the 00:27:45.360 --> 00:27:49.630 align:start position:0% aren't valid validated resets to the full<00:27:45.960> depth<00:27:47.440> so<00:27:48.440> what<00:27:48.559> does<00:27:48.720> this<00:27:48.919> give<00:27:49.039> us<00:27:49.320> so 00:27:49.630 --> 00:27:49.640 align:start position:0% full depth so what does this give us so 00:27:49.640 --> 00:27:52.830 align:start position:0% full depth so what does this give us so for<00:27:49.840> example<00:27:50.360> in<00:27:50.640> in<00:27:50.880> the<00:27:51.039> Bitcoin<00:27:51.840> blockchain 00:27:52.830 --> 00:27:52.840 align:start position:0% for example in in the Bitcoin blockchain 00:27:52.840 --> 00:27:55.310 align:start position:0% for example in in the Bitcoin blockchain um<00:27:53.640> we<00:27:53.880> have<00:27:54.120> I<00:27:54.240> think<00:27:54.440> 10<00:27:54.840> approximately 00:27:55.310 --> 00:27:55.320 align:start position:0% um we have I think 10 approximately 00:27:55.320 --> 00:27:58.909 align:start position:0% um we have I think 10 approximately 10,000<00:27:56.240> nodes<00:27:57.240> and<00:27:57.880> every<00:27:58.120> single<00:27:58.399> node<00:27:58.720> is 00:27:58.909 --> 00:27:58.919 align:start position:0% 10,000 nodes and every single node is 00:27:58.919 --> 00:28:00.230 align:start position:0% 10,000 nodes and every single node is supposed<00:27:59.240> to<00:27:59.440> they<00:27:59.559> don't<00:27:59.840> actually<00:28:00.120> but 00:28:00.230 --> 00:28:00.240 align:start position:0% supposed to they don't actually but 00:28:00.240 --> 00:28:02.190 align:start position:0% supposed to they don't actually but they're<00:28:00.440> supposed<00:28:00.799> to<00:28:01.000> validate<00:28:01.960> every 00:28:02.190 --> 00:28:02.200 align:start position:0% they're supposed to validate every 00:28:02.200 --> 00:28:03.750 align:start position:0% they're supposed to validate every single<00:28:02.559> transaction<00:28:03.080> that<00:28:03.200> makes<00:28:03.440> it<00:28:03.559> into 00:28:03.750 --> 00:28:03.760 align:start position:0% single transaction that makes it into 00:28:03.760 --> 00:28:05.630 align:start position:0% single transaction that makes it into the<00:28:03.919> blockchain<00:28:04.919> that's<00:28:05.039> a<00:28:05.159> very<00:28:05.320> sort<00:28:05.480> of 00:28:05.630 --> 00:28:05.640 align:start position:0% the blockchain that's a very sort of 00:28:05.640 --> 00:28:08.430 align:start position:0% the blockchain that's a very sort of naive<00:28:06.039> and<00:28:06.279> inefficient<00:28:07.200> approach<00:28:08.200> but<00:28:08.320> we 00:28:08.430 --> 00:28:08.440 align:start position:0% naive and inefficient approach but we 00:28:08.440 --> 00:28:09.870 align:start position:0% naive and inefficient approach but we might<00:28:08.679> imagine<00:28:09.279> with<00:28:09.399> something<00:28:09.679> like 00:28:09.870 --> 00:28:09.880 align:start position:0% might imagine with something like 00:28:09.880 --> 00:28:12.029 align:start position:0% might imagine with something like validation<00:28:10.440> towers<00:28:11.200> that<00:28:11.440> we<00:28:11.559> we<00:28:11.679> could<00:28:11.840> get 00:28:12.029 --> 00:28:12.039 align:start position:0% validation towers that we we could get 00:28:12.039 --> 00:28:14.470 align:start position:0% validation towers that we we could get the<00:28:12.159> same<00:28:12.399> level<00:28:12.640> of<00:28:12.799> security<00:28:13.200> with<00:28:13.480> 50<00:28:13.720> nodes 00:28:14.470 --> 00:28:14.480 align:start position:0% the same level of security with 50 nodes 00:28:14.480 --> 00:28:16.110 align:start position:0% the same level of security with 50 nodes right<00:28:14.760> let's<00:28:14.960> say<00:28:15.159> that<00:28:15.559> you<00:28:15.679> know<00:28:15.799> we<00:28:15.919> have 00:28:16.110 --> 00:28:16.120 align:start position:0% right let's say that you know we have 00:28:16.120 --> 00:28:17.990 align:start position:0% right let's say that you know we have five<00:28:16.360> nodes<00:28:16.720> that<00:28:16.919> build<00:28:17.240> each<00:28:17.480> successive 00:28:17.990 --> 00:28:18.000 align:start position:0% five nodes that build each successive 00:28:18.000 --> 00:28:21.029 align:start position:0% five nodes that build each successive level<00:28:18.919> right<00:28:19.799> and<00:28:20.159> you<00:28:20.320> need<00:28:20.480> to<00:28:20.720> get<00:28:20.840> a 00:28:21.029 --> 00:28:21.039 align:start position:0% level right and you need to get a 00:28:21.039 --> 00:28:24.590 align:start position:0% level right and you need to get a transaction<00:28:21.600> buried<00:28:21.960> 10<00:28:22.200> levels<00:28:22.559> deep<00:28:23.600> right 00:28:24.590 --> 00:28:24.600 align:start position:0% transaction buried 10 levels deep right 00:28:24.600 --> 00:28:28.470 align:start position:0% transaction buried 10 levels deep right and<00:28:24.799> the<00:28:24.919> reason<00:28:25.200> for<00:28:25.440> this<00:28:25.679> is<00:28:26.600> that<00:28:27.279> the<00:28:27.559> the 00:28:28.470 --> 00:28:28.480 align:start position:0% and the reason for this is that the the 00:28:28.480 --> 00:28:31.509 align:start position:0% and the reason for this is that the the probability<00:28:29.320> of<00:28:29.519> the<00:28:29.720> adversary 00:28:31.509 --> 00:28:31.519 align:start position:0% probability of the adversary 00:28:31.519 --> 00:28:34.509 align:start position:0% probability of the adversary having<00:28:32.519> five<00:28:32.760> of<00:28:32.919> their<00:28:33.080> own<00:28:33.320> nodes<00:28:33.799> selected 00:28:34.509 --> 00:28:34.519 align:start position:0% having five of their own nodes selected 00:28:34.519 --> 00:28:37.149 align:start position:0% having five of their own nodes selected from<00:28:34.720> some<00:28:34.960> big<00:28:35.159> universe<00:28:35.679> of<00:28:35.840> nodes<00:28:36.840> in<00:28:37.000> this 00:28:37.149 --> 00:28:37.159 align:start position:0% from some big universe of nodes in this 00:28:37.159 --> 00:28:39.870 align:start position:0% from some big universe of nodes in this case<00:28:37.360> we're<00:28:37.519> saying<00:28:37.799> 10<00:28:38.120> times<00:28:38.360> in<00:28:38.519> a<00:28:38.679> row<00:28:39.679> is 00:28:39.870 --> 00:28:39.880 align:start position:0% case we're saying 10 times in a row is 00:28:39.880 --> 00:28:42.950 align:start position:0% case we're saying 10 times in a row is vanishingly<00:28:40.799> small<00:28:41.799> right<00:28:42.279> and<00:28:42.440> every<00:28:42.640> single 00:28:42.950 --> 00:28:42.960 align:start position:0% vanishingly small right and every single 00:28:42.960 --> 00:28:44.110 align:start position:0% vanishingly small right and every single time<00:28:43.120> the 00:28:44.110 --> 00:28:44.120 align:start position:0% time the 00:28:44.120 --> 00:28:46.269 align:start position:0% time the adversary<00:28:45.120> hopes<00:28:45.519> this<00:28:45.640> is<00:28:45.760> going<00:28:45.840> to<00:28:46.039> happen 00:28:46.269 --> 00:28:46.279 align:start position:0% adversary hopes this is going to happen 00:28:46.279 --> 00:28:48.310 align:start position:0% adversary hopes this is going to happen and<00:28:46.440> builds<00:28:46.679> a<00:28:46.880> bad<00:28:47.120> level<00:28:47.559> which<00:28:47.799> perhaps 00:28:48.310 --> 00:28:48.320 align:start position:0% and builds a bad level which perhaps 00:28:48.320 --> 00:28:50.110 align:start position:0% and builds a bad level which perhaps validates<00:28:48.880> some<00:28:49.080> silly<00:28:49.399> transaction<00:28:49.960> that 00:28:50.110 --> 00:28:50.120 align:start position:0% validates some silly transaction that 00:28:50.120 --> 00:28:52.029 align:start position:0% validates some silly transaction that pays<00:28:50.320> him<00:28:50.880> you<00:28:51.039> know<00:28:51.240> trillion<00:28:51.600> dollars<00:28:51.880> or 00:28:52.029 --> 00:28:52.039 align:start position:0% pays him you know trillion dollars or 00:28:52.039 --> 00:28:54.470 align:start position:0% pays him you know trillion dollars or something<00:28:53.039> um<00:28:53.399> every<00:28:53.600> time<00:28:53.720> he<00:28:53.880> tries<00:28:54.200> this<00:28:54.360> of 00:28:54.470 --> 00:28:54.480 align:start position:0% something um every time he tries this of 00:28:54.480 --> 00:28:55.549 align:start position:0% something um every time he tries this of course<00:28:54.600> he's<00:28:54.760> having<00:28:54.919> to<00:28:55.039> spend<00:28:55.279> money 00:28:55.549 --> 00:28:55.559 align:start position:0% course he's having to spend money 00:28:55.559 --> 00:28:57.669 align:start position:0% course he's having to spend money because<00:28:55.760> his<00:28:55.880> nodes<00:28:56.240> become<00:28:56.519> inactive<00:28:57.080> until 00:28:57.669 --> 00:28:57.679 align:start position:0% because his nodes become inactive until 00:28:57.679 --> 00:28:59.110 align:start position:0% because his nodes become inactive until they're<00:28:57.840> buried<00:28:58.200> 10<00:28:58.440> levels<00:28:58.679> deep<00:28:58.880> and<00:28:59.000> it's 00:28:59.110 --> 00:28:59.120 align:start position:0% they're buried 10 levels deep and it's 00:28:59.120 --> 00:29:01.990 align:start position:0% they're buried 10 levels deep and it's never<00:28:59.320> going<00:28:59.399> to<00:28:59.600> happen<00:29:00.600> so<00:29:01.200> the<00:29:01.760> um 00:29:01.990 --> 00:29:02.000 align:start position:0% never going to happen so the um 00:29:02.000 --> 00:29:03.549 align:start position:0% never going to happen so the um resources<00:29:02.440> of<00:29:02.559> the<00:29:02.679> adversary<00:29:03.120> will<00:29:03.279> quickly 00:29:03.549 --> 00:29:03.559 align:start position:0% resources of the adversary will quickly 00:29:03.559 --> 00:29:08.029 align:start position:0% resources of the adversary will quickly become<00:29:04.080> exhausted<00:29:05.080> and<00:29:05.679> we<00:29:05.799> can<00:29:06.480> get<00:29:07.480> the<00:29:07.679> same 00:29:08.029 --> 00:29:08.039 align:start position:0% become exhausted and we can get the same 00:29:08.039 --> 00:29:10.029 align:start position:0% become exhausted and we can get the same kind<00:29:08.200> of<00:29:08.440> security<00:29:09.000> from<00:29:09.279> just<00:29:09.519> these<00:29:09.720> 50 00:29:10.029 --> 00:29:10.039 align:start position:0% kind of security from just these 50 00:29:10.039 --> 00:29:12.430 align:start position:0% kind of security from just these 50 nodes<00:29:10.600> that<00:29:10.880> that<00:29:11.039> Bitcoin<00:29:11.440> can<00:29:11.640> get<00:29:11.799> from<00:29:12.240> say 00:29:12.430 --> 00:29:12.440 align:start position:0% nodes that that Bitcoin can get from say 00:29:12.440 --> 00:29:15.990 align:start position:0% nodes that that Bitcoin can get from say 10,000<00:29:13.240> nodes<00:29:14.240> and<00:29:14.720> so<00:29:14.880> I<00:29:15.000> think<00:29:15.240> that<00:29:15.559> that's 00:29:15.990 --> 00:29:16.000 align:start position:0% 10,000 nodes and so I think that that's 00:29:16.000 --> 00:29:17.909 align:start position:0% 10,000 nodes and so I think that that's um<00:29:16.640> as<00:29:16.760> a<00:29:16.919> technique<00:29:17.279> it's<00:29:17.440> an<00:29:17.559> interesting 00:29:17.909 --> 00:29:17.919 align:start position:0% um as a technique it's an interesting 00:29:17.919 --> 00:29:21.029 align:start position:0% um as a technique it's an interesting one<00:29:18.120> it's<00:29:18.880> um<00:29:19.880> but<00:29:20.000> it<00:29:20.120> kind<00:29:20.240> of<00:29:20.399> illustrates 00:29:21.029 --> 00:29:21.039 align:start position:0% one it's um but it kind of illustrates 00:29:21.039 --> 00:29:22.750 align:start position:0% one it's um but it kind of illustrates how<00:29:21.559> a<00:29:21.640> lot<00:29:21.760> of<00:29:21.880> these<00:29:22.080> problems<00:29:22.360> that<00:29:22.519> seem 00:29:22.750 --> 00:29:22.760 align:start position:0% how a lot of these problems that seem 00:29:22.760 --> 00:29:26.230 align:start position:0% how a lot of these problems that seem very<00:29:22.960> intract<00:29:23.720> intractable<00:29:24.600> can<00:29:24.799> be<00:29:25.240> solved 00:29:26.230 --> 00:29:26.240 align:start position:0% very intract intractable can be solved 00:29:26.240 --> 00:29:28.830 align:start position:0% very intract intractable can be solved using<00:29:26.840> random<00:29:27.760> right<00:29:27.919> so<00:29:28.080> I<00:29:28.200> think<00:29:28.679> the 00:29:28.830 --> 00:29:28.840 align:start position:0% using random right so I think the 00:29:28.840 --> 00:29:31.470 align:start position:0% using random right so I think the generation<00:29:29.320> of<00:29:29.600> pure<00:29:30.120> Randomness<00:29:31.120> that<00:29:31.279> an 00:29:31.470 --> 00:29:31.480 align:start position:0% generation of pure Randomness that an 00:29:31.480 --> 00:29:34.310 align:start position:0% generation of pure Randomness that an adversary<00:29:32.080> can't<00:29:32.360> manipulate<00:29:33.039> or<00:29:33.320> predict<00:29:34.159> is 00:29:34.310 --> 00:29:34.320 align:start position:0% adversary can't manipulate or predict is 00:29:34.320 --> 00:29:35.830 align:start position:0% adversary can't manipulate or predict is going<00:29:34.399> to<00:29:34.519> be<00:29:34.679> very<00:29:34.880> important<00:29:35.279> and<00:29:35.480> luckily 00:29:35.830 --> 00:29:35.840 align:start position:0% going to be very important and luckily 00:29:35.840 --> 00:29:38.190 align:start position:0% going to be very important and luckily there<00:29:35.919> are<00:29:36.080> ways<00:29:36.279> of<00:29:36.399> doing<00:29:36.720> this<00:29:37.320> um<00:29:37.840> using 00:29:38.190 --> 00:29:38.200 align:start position:0% there are ways of doing this um using 00:29:38.200 --> 00:29:41.149 align:start position:0% there are ways of doing this um using adaptations<00:29:38.919> of<00:29:39.519> uh<00:29:39.919> certain<00:29:40.279> kinds<00:29:40.519> of<00:29:41.039> uh 00:29:41.149 --> 00:29:41.159 align:start position:0% adaptations of uh certain kinds of uh 00:29:41.159 --> 00:29:44.269 align:start position:0% adaptations of uh certain kinds of uh threshold<00:29:42.120> signature<00:29:43.120> um 00:29:44.269 --> 00:29:44.279 align:start position:0% threshold signature um 00:29:44.279 --> 00:29:46.590 align:start position:0% threshold signature um techniques<00:29:45.279> and<00:29:45.440> in<00:29:45.600> fact<00:29:45.880> actually<00:29:46.120> anyways 00:29:46.590 --> 00:29:46.600 align:start position:0% techniques and in fact actually anyways 00:29:46.600 --> 00:29:48.070 align:start position:0% techniques and in fact actually anyways proof<00:29:46.799> of<00:29:46.960> work<00:29:47.159> is<00:29:47.240> a<00:29:47.360> kind<00:29:47.480> of<00:29:47.640> Randomness 00:29:48.070 --> 00:29:48.080 align:start position:0% proof of work is a kind of Randomness 00:29:48.080 --> 00:29:49.909 align:start position:0% proof of work is a kind of Randomness it's<00:29:48.200> not<00:29:48.360> ideal<00:29:48.679> because<00:29:48.760> it's<00:29:49.440> too<00:29:49.640> easily 00:29:49.909 --> 00:29:49.919 align:start position:0% it's not ideal because it's too easily 00:29:49.919 --> 00:29:52.269 align:start position:0% it's not ideal because it's too easily manipulated<00:29:50.600> but<00:29:51.159> you 00:29:52.269 --> 00:29:52.279 align:start position:0% manipulated but you 00:29:52.279 --> 00:29:55.630 align:start position:0% manipulated but you know<00:29:53.279> when<00:29:53.399> you<00:29:53.640> create<00:29:54.120> that<00:29:55.080> you<00:29:55.240> find<00:29:55.519> that 00:29:55.630 --> 00:29:55.640 align:start position:0% know when you create that you find that 00:29:55.640 --> 00:29:57.470 align:start position:0% know when you create that you find that Nots<00:29:56.080> that<00:29:56.200> gives<00:29:56.360> you<00:29:56.440> the<00:29:56.559> leading<00:29:56.880> zeros 00:29:57.470 --> 00:29:57.480 align:start position:0% Nots that gives you the leading zeros 00:29:57.480 --> 00:29:59.950 align:start position:0% Nots that gives you the leading zeros and<00:29:57.640> your<00:29:57.799> proof<00:29:58.000> of<00:29:58.200> work<00:29:59.000> you<00:29:59.120> know<00:29:59.320> the 00:29:59.950 --> 00:29:59.960 align:start position:0% and your proof of work you know the 00:29:59.960 --> 00:30:03.669 align:start position:0% and your proof of work you know the resulting<00:30:00.960> hash<00:30:01.799> is<00:30:02.519> pretty<00:30:02.799> random<00:30:03.360> so<00:30:03.519> in 00:30:03.669 --> 00:30:03.679 align:start position:0% resulting hash is pretty random so in 00:30:03.679 --> 00:30:05.230 align:start position:0% resulting hash is pretty random so in principle<00:30:04.080> you<00:30:04.159> could<00:30:04.320> even<00:30:04.519> do<00:30:04.720> this<00:30:04.919> with<00:30:05.039> a 00:30:05.230 --> 00:30:05.240 align:start position:0% principle you could even do this with a 00:30:05.240 --> 00:30:07.269 align:start position:0% principle you could even do this with a with<00:30:05.360> a<00:30:05.440> proof<00:30:05.640> of<00:30:05.840> work<00:30:06.559> you<00:30:06.679> know<00:30:06.880> top<00:30:07.080> level 00:30:07.269 --> 00:30:07.279 align:start position:0% with a proof of work you know top level 00:30:07.279 --> 00:30:09.310 align:start position:0% with a proof of work you know top level proof<00:30:07.480> of<00:30:07.640> work<00:30:07.840> blockchain<00:30:08.799> it's<00:30:09.000> not<00:30:09.159> not 00:30:09.310 --> 00:30:09.320 align:start position:0% proof of work blockchain it's not not 00:30:09.320 --> 00:30:10.669 align:start position:0% proof of work blockchain it's not not ideal<00:30:09.679> but<00:30:09.799> in<00:30:09.919> principle<00:30:10.240> you<00:30:10.320> could<00:30:10.480> even 00:30:10.669 --> 00:30:10.679 align:start position:0% ideal but in principle you could even 00:30:10.679 --> 00:30:12.789 align:start position:0% ideal but in principle you could even use<00:30:10.960> that<00:30:11.480> the<00:30:11.640> randomness<00:30:12.120> generated<00:30:12.519> by 00:30:12.789 --> 00:30:12.799 align:start position:0% use that the randomness generated by 00:30:12.799 --> 00:30:14.389 align:start position:0% use that the randomness generated by just<00:30:12.880> a<00:30:13.000> proof<00:30:13.200> of<00:30:13.320> work<00:30:13.519> blockchain<00:30:13.919> to<00:30:14.279> to 00:30:14.389 --> 00:30:14.399 align:start position:0% just a proof of work blockchain to to 00:30:14.399 --> 00:30:15.830 align:start position:0% just a proof of work blockchain to to drive<00:30:14.799> validation 00:30:15.830 --> 00:30:15.840 align:start position:0% drive validation 00:30:15.840 --> 00:30:18.870 align:start position:0% drive validation tows<00:30:16.960> cool 00:30:18.870 --> 00:30:18.880 align:start position:0% tows cool 00:30:18.880 --> 00:30:22.190 align:start position:0% tows cool great<00:30:19.880> way<00:30:20.159> back<00:30:20.440> when<00:30:21.399> probably<00:30:21.679> about<00:30:21.880> 15 00:30:22.190 --> 00:30:22.200 align:start position:0% great way back when probably about 15 00:30:22.200 --> 00:30:23.590 align:start position:0% great way back when probably about 15 months<00:30:22.440> ago<00:30:22.679> we<00:30:22.760> were<00:30:23.000> talking<00:30:23.279> about<00:30:23.440> a 00:30:23.590 --> 00:30:23.600 align:start position:0% months ago we were talking about a 00:30:23.600 --> 00:30:27.310 align:start position:0% months ago we were talking about a notion<00:30:23.880> of<00:30:24.279> um<00:30:24.440> ethereum<00:30:25.000> 1<00:30:25.760> 1.5<00:30:26.760> which<00:30:26.880> would 00:30:27.310 --> 00:30:27.320 align:start position:0% notion of um ethereum 1 1.5 which would 00:30:27.320 --> 00:30:30.070 align:start position:0% notion of um ethereum 1 1.5 which would would<00:30:27.480> go<00:30:27.840> halfway<00:30:28.360> towards<00:30:28.960> scalability<00:30:29.960> if 00:30:30.070 --> 00:30:30.080 align:start position:0% would go halfway towards scalability if 00:30:30.080 --> 00:30:32.990 align:start position:0% would go halfway towards scalability if you<00:30:30.320> remember<00:30:31.320> um<00:30:32.039> to<00:30:32.240> some<00:30:32.519> degree<00:30:32.799> it<00:30:32.880> was 00:30:32.990 --> 00:30:33.000 align:start position:0% you remember um to some degree it was 00:30:33.000 --> 00:30:34.389 align:start position:0% you remember um to some degree it was built<00:30:33.240> around<00:30:33.480> the<00:30:33.600> notion<00:30:33.919> of<00:30:34.080> having 00:30:34.389 --> 00:30:34.399 align:start position:0% built around the notion of having 00:30:34.399 --> 00:30:36.830 align:start position:0% built around the notion of having separate<00:30:34.760> chains<00:30:35.480> that<00:30:35.919> linked<00:30:36.399> back<00:30:36.559> to<00:30:36.720> the 00:30:36.830 --> 00:30:36.840 align:start position:0% separate chains that linked back to the 00:30:36.840 --> 00:30:39.549 align:start position:0% separate chains that linked back to the main<00:30:37.159> chain<00:30:38.000> and<00:30:38.159> from<00:30:38.440> which<00:30:39.080> um<00:30:39.240> proofs 00:30:39.549 --> 00:30:39.559 align:start position:0% main chain and from which um proofs 00:30:39.559 --> 00:30:40.830 align:start position:0% main chain and from which um proofs could<00:30:39.720> be<00:30:39.840> given<00:30:40.080> that<00:30:40.240> transactions 00:30:40.830 --> 00:30:40.840 align:start position:0% could be given that transactions 00:30:40.840 --> 00:30:42.149 align:start position:0% could be given that transactions happened<00:30:41.200> or<00:30:41.320> that<00:30:41.440> a<00:30:41.559> state<00:30:41.799> was<00:30:41.880> in<00:30:42.000> a 00:30:42.149 --> 00:30:42.159 align:start position:0% happened or that a state was in a 00:30:42.159 --> 00:30:43.789 align:start position:0% happened or that a state was in a particular 00:30:43.789 --> 00:30:43.799 align:start position:0% particular 00:30:43.799 --> 00:30:48.630 align:start position:0% particular State<00:30:44.880> um<00:30:45.880> would<00:30:46.039> you<00:30:46.159> like<00:30:46.320> to<00:30:46.840> comment<00:30:47.360> on<00:30:48.279> on 00:30:48.630 --> 00:30:48.640 align:start position:0% State um would you like to comment on on 00:30:48.640 --> 00:30:50.909 align:start position:0% State um would you like to comment on on and<00:30:48.840> explore<00:30:49.240> the<00:30:49.360> notion<00:30:49.679> of<00:30:49.960> this<00:30:50.480> ethereum 00:30:50.909 --> 00:30:50.919 align:start position:0% and explore the notion of this ethereum 00:30:50.919 --> 00:30:55.310 align:start position:0% and explore the notion of this ethereum 1.5<00:30:51.919> idea<00:30:52.480> still<00:30:53.480> and<00:30:53.919> uh<00:30:54.120> no<00:30:54.320> not 00:30:55.310 --> 00:30:55.320 align:start position:0% 1.5 idea still and uh no not 00:30:55.320 --> 00:30:59.310 align:start position:0% 1.5 idea still and uh no not really<00:30:56.320> you're<00:30:56.480> done<00:30:56.679> with<00:30:56.840> that<00:30:56.960> now<00:30:57.120> right 00:30:59.310 --> 00:30:59.320 align:start position:0% 00:30:59.320 --> 00:31:01.110 align:start position:0% I<00:30:59.360> mean<00:30:59.559> the<00:30:59.720> basic<00:31:00.039> notion<00:31:00.360> is<00:31:00.639> I<00:31:00.960> well 00:31:01.110 --> 00:31:01.120 align:start position:0% I mean the basic notion is I well 00:31:01.120 --> 00:31:02.629 align:start position:0% I mean the basic notion is I well there's<00:31:01.320> a<00:31:01.440> bunch<00:31:01.600> of<00:31:01.760> things<00:31:01.960> that<00:31:02.440> were 00:31:02.629 --> 00:31:02.639 align:start position:0% there's a bunch of things that were 00:31:02.639 --> 00:31:05.029 align:start position:0% there's a bunch of things that were called<00:31:02.840> e<00:31:02.960> theorum<00:31:03.320> 1.5<00:31:04.200> but<00:31:04.360> one<00:31:04.480> of<00:31:04.639> them<00:31:04.840> is 00:31:05.029 --> 00:31:05.039 align:start position:0% called e theorum 1.5 but one of them is 00:31:05.039 --> 00:31:07.669 align:start position:0% called e theorum 1.5 but one of them is this<00:31:05.760> Hub<00:31:05.960> and<00:31:06.159> spoke<00:31:06.519> chain<00:31:06.880> notion<00:31:07.399> where 00:31:07.669 --> 00:31:07.679 align:start position:0% this Hub and spoke chain notion where 00:31:07.679 --> 00:31:10.389 align:start position:0% this Hub and spoke chain notion where basically<00:31:08.120> you<00:31:08.200> would<00:31:08.480> have<00:31:09.200> a<00:31:09.399> hub<00:31:09.639> chain<00:31:10.240> and 00:31:10.389 --> 00:31:10.399 align:start position:0% basically you would have a hub chain and 00:31:10.399 --> 00:31:12.669 align:start position:0% basically you would have a hub chain and you'd<00:31:10.679> have<00:31:10.880> many<00:31:11.159> spoke<00:31:11.519> chains<00:31:12.159> that<00:31:12.559> you 00:31:12.669 --> 00:31:12.679 align:start position:0% you'd have many spoke chains that you 00:31:12.679 --> 00:31:15.509 align:start position:0% you'd have many spoke chains that you know<00:31:12.880> theoretically<00:31:13.600> could<00:31:13.880> be<00:31:14.039> sort<00:31:14.240> of<00:31:15.120> can 00:31:15.509 --> 00:31:15.519 align:start position:0% know theoretically could be sort of can 00:31:15.519 --> 00:31:17.669 align:start position:0% know theoretically could be sort of can rely<00:31:15.919> on<00:31:16.279> the<00:31:16.519> or<00:31:16.679> benefit<00:31:17.039> from<00:31:17.240> The<00:31:17.360> Hub 00:31:17.669 --> 00:31:17.679 align:start position:0% rely on the or benefit from The Hub 00:31:17.679 --> 00:31:20.909 align:start position:0% rely on the or benefit from The Hub Chain's<00:31:18.679> Security<00:31:19.120> in<00:31:19.320> some<00:31:19.559> sense<00:31:19.919> so<00:31:20.279> the 00:31:20.909 --> 00:31:20.919 align:start position:0% Chain's Security in some sense so the 00:31:20.919 --> 00:31:22.830 align:start position:0% Chain's Security in some sense so the particular<00:31:21.519> thing<00:31:21.760> that<00:31:21.960> I<00:31:22.279> that<00:31:22.399> I<00:31:22.519> come<00:31:22.679> up 00:31:22.830 --> 00:31:22.840 align:start position:0% particular thing that I that I come up 00:31:22.840 --> 00:31:24.549 align:start position:0% particular thing that I that I come up with<00:31:23.000> was<00:31:23.120> a<00:31:23.240> sort<00:31:23.360> of<00:31:23.519> symmetrical<00:31:24.200> merge 00:31:24.549 --> 00:31:24.559 align:start position:0% with was a sort of symmetrical merge 00:31:24.559 --> 00:31:27.230 align:start position:0% with was a sort of symmetrical merge mining<00:31:24.960> technique<00:31:25.440> where<00:31:25.679> basically<00:31:26.679> every 00:31:27.230 --> 00:31:27.240 align:start position:0% mining technique where basically every 00:31:27.240 --> 00:31:28.990 align:start position:0% mining technique where basically every minor<00:31:27.600> would<00:31:28.080> this<00:31:28.200> was<00:31:28.519> you<00:31:28.600> know<00:31:28.760> back<00:31:28.880> in 00:31:28.990 --> 00:31:29.000 align:start position:0% minor would this was you know back in 00:31:29.000 --> 00:31:30.950 align:start position:0% minor would this was you know back in the<00:31:29.080> proof<00:31:29.320> of<00:31:29.679> at<00:31:29.799> the<00:31:29.919> the<00:31:30.039> time<00:31:30.200> we<00:31:30.279> were 00:31:30.950 --> 00:31:30.960 align:start position:0% the proof of at the the time we were 00:31:30.960 --> 00:31:33.509 align:start position:0% the proof of at the the time we were focus<00:31:31.840> focusing<00:31:32.240> on<00:31:32.440> proof<00:31:32.639> of<00:31:32.799> work<00:31:33.080> so<00:31:33.279> every 00:31:33.509 --> 00:31:33.519 align:start position:0% focus focusing on proof of work so every 00:31:33.519 --> 00:31:36.750 align:start position:0% focus focusing on proof of work so every minor<00:31:33.960> would<00:31:34.200> make<00:31:34.559> choose<00:31:35.000> a<00:31:35.720> hub<00:31:36.159> a<00:31:36.399> Spoke 00:31:36.750 --> 00:31:36.760 align:start position:0% minor would make choose a hub a Spoke 00:31:36.760 --> 00:31:40.230 align:start position:0% minor would make choose a hub a Spoke index<00:31:37.120> to<00:31:37.279> make<00:31:37.399> a<00:31:37.559> block<00:31:37.840> on<00:31:38.720> and<00:31:38.960> then<00:31:39.559> they 00:31:40.230 --> 00:31:40.240 align:start position:0% index to make a block on and then they 00:31:40.240 --> 00:31:41.629 align:start position:0% index to make a block on and then they they<00:31:40.360> would<00:31:40.559> make<00:31:40.679> a<00:31:40.840> block<00:31:41.120> and<00:31:41.240> then<00:31:41.480> that 00:31:41.629 --> 00:31:41.639 align:start position:0% they would make a block and then that 00:31:41.639 --> 00:31:43.750 align:start position:0% they would make a block and then that block<00:31:42.000> would<00:31:42.240> point<00:31:42.519> to<00:31:42.840> both<00:31:43.120> the<00:31:43.320> previous 00:31:43.750 --> 00:31:43.760 align:start position:0% block would point to both the previous 00:31:43.760 --> 00:31:46.149 align:start position:0% block would point to both the previous block<00:31:44.039> on<00:31:44.320> that<00:31:44.480> spoke<00:31:45.320> and<00:31:45.639> the<00:31:45.760> previous 00:31:46.149 --> 00:31:46.159 align:start position:0% block on that spoke and the previous 00:31:46.159 --> 00:31:48.470 align:start position:0% block on that spoke and the previous Block<00:31:46.440> in<00:31:46.600> general<00:31:47.360> so<00:31:47.720> you<00:31:47.840> know<00:31:47.960> basically 00:31:48.470 --> 00:31:48.480 align:start position:0% Block in general so you know basically 00:31:48.480 --> 00:31:50.110 align:start position:0% Block in general so you know basically and<00:31:48.720> that<00:31:48.840> block<00:31:49.080> would<00:31:49.279> count<00:31:49.559> as<00:31:49.639> a<00:31:49.760> block<00:31:50.000> on 00:31:50.110 --> 00:31:50.120 align:start position:0% and that block would count as a block on 00:31:50.120 --> 00:31:52.149 align:start position:0% and that block would count as a block on the<00:31:50.240> spoke<00:31:50.679> and<00:31:50.960> as<00:31:51.080> a<00:31:51.320> block<00:31:51.559> on<00:31:51.679> the<00:31:51.799> Hub<00:31:52.039> at 00:31:52.149 --> 00:31:52.159 align:start position:0% the spoke and as a block on the Hub at 00:31:52.159 --> 00:31:55.830 align:start position:0% the spoke and as a block on the Hub at the<00:31:52.240> same<00:31:52.559> time<00:31:53.519> and<00:31:53.639> so<00:31:53.880> the<00:31:54.039> theory<00:31:54.639> is<00:31:55.279> that 00:31:55.830 --> 00:31:55.840 align:start position:0% the same time and so the theory is that 00:31:55.840 --> 00:31:58.669 align:start position:0% the same time and so the theory is that you<00:31:56.200> or<00:31:57.440> was<00:31:57.720> that<00:31:57.880> you<00:31:58.039> could<00:31:58.240> have<00:31:58.440> the 00:31:58.669 --> 00:31:58.679 align:start position:0% you or was that you could have the 00:31:58.679 --> 00:32:01.310 align:start position:0% you or was that you could have the system<00:31:59.200> where<00:32:00.200> transactions<00:32:00.840> that<00:32:01.000> sort<00:32:01.159> of 00:32:01.310 --> 00:32:01.320 align:start position:0% system where transactions that sort of 00:32:01.320 --> 00:32:03.750 align:start position:0% system where transactions that sort of happen<00:32:01.639> within<00:32:01.960> a<00:32:02.159> particular<00:32:03.000> spoke<00:32:03.519> could 00:32:03.750 --> 00:32:03.760 align:start position:0% happen within a particular spoke could 00:32:03.760 --> 00:32:05.430 align:start position:0% happen within a particular spoke could potentially<00:32:04.120> be<00:32:04.320> extremely<00:32:04.760> cheap<00:32:05.200> because 00:32:05.430 --> 00:32:05.440 align:start position:0% potentially be extremely cheap because 00:32:05.440 --> 00:32:07.830 align:start position:0% potentially be extremely cheap because there<00:32:05.559> aren't<00:32:06.399> too<00:32:06.639> many<00:32:07.120> too<00:32:07.279> many<00:32:07.440> miners 00:32:07.830 --> 00:32:07.840 align:start position:0% there aren't too many too many miners 00:32:07.840 --> 00:32:10.750 align:start position:0% there aren't too many too many miners valid<00:32:08.559> Pro<00:32:08.840> actually<00:32:09.120> processing<00:32:09.639> them<00:32:10.519> but 00:32:10.750 --> 00:32:10.760 align:start position:0% valid Pro actually processing them but 00:32:10.760 --> 00:32:12.110 align:start position:0% valid Pro actually processing them but and<00:32:10.919> you<00:32:11.000> know<00:32:11.120> the<00:32:11.279> theory<00:32:11.600> is<00:32:11.760> that<00:32:11.919> every 00:32:12.110 --> 00:32:12.120 align:start position:0% and you know the theory is that every 00:32:12.120 --> 00:32:14.830 align:start position:0% and you know the theory is that every minor<00:32:12.480> would<00:32:12.639> be<00:32:12.880> kind<00:32:13.039> of<00:32:13.519> a<00:32:13.679> full<00:32:14.000> client<00:32:14.480> on 00:32:14.830 --> 00:32:14.840 align:start position:0% minor would be kind of a full client on 00:32:14.840 --> 00:32:16.629 align:start position:0% minor would be kind of a full client on their<00:32:15.120> kind<00:32:15.240> of<00:32:15.440> home<00:32:15.720> spoke<00:32:16.120> but<00:32:16.240> they'd<00:32:16.399> be<00:32:16.519> a 00:32:16.629 --> 00:32:16.639 align:start position:0% their kind of home spoke but they'd be a 00:32:16.639 --> 00:32:18.230 align:start position:0% their kind of home spoke but they'd be a light<00:32:16.840> client<00:32:17.159> on<00:32:17.320> every<00:32:17.519> other<00:32:17.720> spoke<00:32:18.080> so 00:32:18.230 --> 00:32:18.240 align:start position:0% light client on every other spoke so 00:32:18.240 --> 00:32:20.310 align:start position:0% light client on every other spoke so they'd<00:32:18.480> still<00:32:18.720> have<00:32:19.320> some<00:32:19.519> degree<00:32:19.799> of<00:32:20.039> access 00:32:20.310 --> 00:32:20.320 align:start position:0% they'd still have some degree of access 00:32:20.320 --> 00:32:23.990 align:start position:0% they'd still have some degree of access to<00:32:20.519> it<00:32:21.760> and<00:32:22.760> but<00:32:22.919> at<00:32:23.039> the<00:32:23.159> same<00:32:23.440> time<00:32:23.679> you<00:32:23.760> know 00:32:23.990 --> 00:32:24.000 align:start position:0% to it and but at the same time you know 00:32:24.000 --> 00:32:25.870 align:start position:0% to it and but at the same time you know if<00:32:24.120> you<00:32:24.279> wanted<00:32:24.600> to<00:32:24.840> have<00:32:25.039> interoperability 00:32:25.870 --> 00:32:25.880 align:start position:0% if you wanted to have interoperability 00:32:25.880 --> 00:32:27.430 align:start position:0% if you wanted to have interoperability between<00:32:26.159> spokes<00:32:26.519> you<00:32:26.679> could<00:32:26.840> but<00:32:27.159> would<00:32:27.320> go 00:32:27.430 --> 00:32:27.440 align:start position:0% between spokes you could but would go 00:32:27.440 --> 00:32:28.870 align:start position:0% between spokes you could but would go through<00:32:27.600> the 00:32:28.870 --> 00:32:28.880 align:start position:0% through the 00:32:28.880 --> 00:32:32.669 align:start position:0% through the Hub<00:32:29.880> could<00:32:30.039> you<00:32:30.240> see<00:32:30.639> that<00:32:30.960> model<00:32:31.880> um<00:32:32.120> scaling 00:32:32.669 --> 00:32:32.679 align:start position:0% Hub could you see that model um scaling 00:32:32.679 --> 00:32:35.350 align:start position:0% Hub could you see that model um scaling indefinitely<00:32:33.480> through<00:32:34.200> compositionality<00:32:35.200> a 00:32:35.350 --> 00:32:35.360 align:start position:0% indefinitely through compositionality a 00:32:35.360 --> 00:32:38.870 align:start position:0% indefinitely through compositionality a sort<00:32:35.519> of<00:32:35.919> Hub<00:32:36.519> and<00:32:36.760> spoke<00:32:37.679> spoke<00:32:37.960> is<00:32:38.080> a<00:32:38.200> hub<00:32:38.760> as 00:32:38.870 --> 00:32:38.880 align:start position:0% sort of Hub and spoke spoke is a hub as 00:32:38.880 --> 00:32:40.990 align:start position:0% sort of Hub and spoke spoke is a hub as well<00:32:39.039> as<00:32:39.120> a<00:32:39.240> spoke<00:32:40.080> and<00:32:40.200> has<00:32:40.360> further<00:32:40.639> spokes 00:32:40.990 --> 00:32:41.000 align:start position:0% well as a spoke and has further spokes 00:32:41.000 --> 00:32:43.070 align:start position:0% well as a spoke and has further spokes down<00:32:41.320> maybe<00:32:41.639> but<00:32:41.799> I<00:32:41.919> think<00:32:42.120> we<00:32:42.320> also<00:32:42.559> needs<00:32:42.840> to 00:32:43.070 --> 00:32:43.080 align:start position:0% down maybe but I think we also needs to 00:32:43.080 --> 00:32:46.430 align:start position:0% down maybe but I think we also needs to kind<00:32:43.240> of<00:32:43.720> think<00:32:44.120> more<00:32:45.120> more<00:32:45.399> rigorously<00:32:46.000> about 00:32:46.430 --> 00:32:46.440 align:start position:0% kind of think more more rigorously about 00:32:46.440 --> 00:32:48.110 align:start position:0% kind of think more more rigorously about exactly<00:32:46.880> how<00:32:47.000> it<00:32:47.120> is<00:32:47.279> all<00:32:47.440> these<00:32:47.600> systems<00:32:47.919> are 00:32:48.110 --> 00:32:48.120 align:start position:0% exactly how it is all these systems are 00:32:48.120 --> 00:32:50.590 align:start position:0% exactly how it is all these systems are secured<00:32:48.840> because<00:32:49.840> the<00:32:50.080> problem<00:32:50.440> with 00:32:50.590 --> 00:32:50.600 align:start position:0% secured because the problem with 00:32:50.600 --> 00:32:53.750 align:start position:0% secured because the problem with scalability<00:32:51.559> is<00:32:51.880> that<00:32:52.080> there<00:32:52.320> are<00:32:53.320> there<00:32:53.440> are 00:32:53.750 --> 00:32:53.760 align:start position:0% scalability is that there are there are 00:32:53.760 --> 00:32:56.509 align:start position:0% scalability is that there are there are two<00:32:54.480> there<00:32:54.559> are<00:32:54.960> like<00:32:55.200> so<00:32:55.440> many<00:32:55.760> ways<00:32:56.080> to<00:32:56.279> do 00:32:56.509 --> 00:32:56.519 align:start position:0% two there are like so many ways to do 00:32:56.519 --> 00:32:58.029 align:start position:0% two there are like so many ways to do things<00:32:56.799> that<00:32:57.159> look<00:32:57.360> like<00:32:57.519> you're<00:32:57.679> solving 00:32:58.029 --> 00:32:58.039 align:start position:0% things that look like you're solving 00:32:58.039 --> 00:33:00.310 align:start position:0% things that look like you're solving scalability<00:32:58.760> but<00:32:58.880> where<00:32:59.000> you're<00:32:59.320> actually 00:33:00.310 --> 00:33:00.320 align:start position:0% scalability but where you're actually 00:33:00.320 --> 00:33:01.950 align:start position:0% scalability but where you're actually sacrificing<00:33:00.840> a<00:33:01.000> fundamental<00:33:01.519> security 00:33:01.950 --> 00:33:01.960 align:start position:0% sacrificing a fundamental security 00:33:01.960 --> 00:33:04.430 align:start position:0% sacrificing a fundamental security property<00:33:02.440> so<00:33:02.639> one<00:33:02.880> example<00:33:03.360> is<00:33:04.000> you<00:33:04.120> know 00:33:04.430 --> 00:33:04.440 align:start position:0% property so one example is you know 00:33:04.440 --> 00:33:06.230 align:start position:0% property so one example is you know right<00:33:04.600> now<00:33:04.880> the<00:33:05.039> sort<00:33:05.159> of<00:33:05.279> de<00:33:05.519> facto<00:33:05.880> model<00:33:06.120> of 00:33:06.230 --> 00:33:06.240 align:start position:0% right now the sort of de facto model of 00:33:06.240 --> 00:33:09.029 align:start position:0% right now the sort of de facto model of cryptocurrency<00:33:06.840> scalability<00:33:07.600> is<00:33:08.519> that<00:33:08.799> well 00:33:09.029 --> 00:33:09.039 align:start position:0% cryptocurrency scalability is that well 00:33:09.039 --> 00:33:11.350 align:start position:0% cryptocurrency scalability is that well we<00:33:09.200> have<00:33:09.480> M<00:33:09.760> we<00:33:09.880> have<00:33:10.000> hundreds<00:33:10.360> of<00:33:10.480> altcoins 00:33:11.350 --> 00:33:11.360 align:start position:0% we have M we have hundreds of altcoins 00:33:11.360 --> 00:33:13.950 align:start position:0% we have M we have hundreds of altcoins and<00:33:11.960> you<00:33:12.080> know<00:33:12.360> if<00:33:12.559> Bitcoin<00:33:13.000> hits<00:33:13.240> its<00:33:13.480> limit 00:33:13.950 --> 00:33:13.960 align:start position:0% and you know if Bitcoin hits its limit 00:33:13.960 --> 00:33:15.710 align:start position:0% and you know if Bitcoin hits its limit and<00:33:14.200> if<00:33:14.360> you<00:33:14.480> know<00:33:14.639> the<00:33:14.840> politics<00:33:15.360> don't<00:33:15.600> get 00:33:15.710 --> 00:33:15.720 align:start position:0% and if you know the politics don't get 00:33:15.720 --> 00:33:17.870 align:start position:0% and if you know the politics don't get figured<00:33:16.039> out<00:33:16.159> and<00:33:16.360> limit<00:33:16.600> doesn't<00:33:16.840> get<00:33:17.000> raised 00:33:17.870 --> 00:33:17.880 align:start position:0% figured out and limit doesn't get raised 00:33:17.880 --> 00:33:19.310 align:start position:0% figured out and limit doesn't get raised then<00:33:18.080> people<00:33:18.320> can<00:33:18.480> just<00:33:18.600> sort<00:33:18.760> of<00:33:18.880> move<00:33:19.120> over 00:33:19.310 --> 00:33:19.320 align:start position:0% then people can just sort of move over 00:33:19.320 --> 00:33:21.190 align:start position:0% then people can just sort of move over and<00:33:19.480> do<00:33:19.679> stuff<00:33:19.880> on<00:33:20.039> Litecoin<00:33:20.399> and<00:33:20.480> Dogecoin 00:33:21.190 --> 00:33:21.200 align:start position:0% and do stuff on Litecoin and Dogecoin 00:33:21.200 --> 00:33:23.549 align:start position:0% and do stuff on Litecoin and Dogecoin instead<00:33:22.200> the<00:33:22.440> problem<00:33:22.799> with<00:33:23.039> actually<00:33:23.399> sort 00:33:23.549 --> 00:33:23.559 align:start position:0% instead the problem with actually sort 00:33:23.559 --> 00:33:24.509 align:start position:0% instead the problem with actually sort of 00:33:24.509 --> 00:33:24.519 align:start position:0% of 00:33:24.519 --> 00:33:27.110 align:start position:0% of institutionalizing<00:33:25.519> that<00:33:26.000> as<00:33:26.360> the<00:33:26.639> skill 00:33:27.110 --> 00:33:27.120 align:start position:0% institutionalizing that as the skill 00:33:27.120 --> 00:33:28.549 align:start position:0% institutionalizing that as the skill ability<00:33:27.440> Paradigm<00:33:27.880> is<00:33:28.000> of<00:33:28.120> course<00:33:28.399> if<00:33:28.440> you 00:33:28.549 --> 00:33:28.559 align:start position:0% ability Paradigm is of course if you 00:33:28.559 --> 00:33:30.110 align:start position:0% ability Paradigm is of course if you have<00:33:28.679> a<00:33:28.760> th<00:33:29.080> chains<00:33:29.399> then<00:33:29.519> each<00:33:29.679> chain<00:33:29.880> is<00:33:30.000> a 00:33:30.110 --> 00:33:30.120 align:start position:0% have a th chains then each chain is a 00:33:30.120 --> 00:33:33.870 align:start position:0% have a th chains then each chain is a thousand<00:33:30.399> times<00:33:31.000> weaker<00:33:32.039> and<00:33:33.039> particularly 00:33:33.870 --> 00:33:33.880 align:start position:0% thousand times weaker and particularly 00:33:33.880 --> 00:33:35.750 align:start position:0% thousand times weaker and particularly if<00:33:34.039> he<00:33:34.240> wants<00:33:34.480> to<00:33:34.639> maintain<00:33:35.080> the<00:33:35.240> property<00:33:35.600> of 00:33:35.750 --> 00:33:35.760 align:start position:0% if he wants to maintain the property of 00:33:35.760 --> 00:33:37.310 align:start position:0% if he wants to maintain the property of having<00:33:36.000> a<00:33:36.159> currency<00:33:36.639> that<00:33:36.799> exists<00:33:37.159> on 00:33:37.310 --> 00:33:37.320 align:start position:0% having a currency that exists on 00:33:37.320 --> 00:33:40.310 align:start position:0% having a currency that exists on multiple<00:33:37.799> shards<00:33:38.799> then<00:33:39.360> one<00:33:39.519> of<00:33:39.679> these<00:33:39.840> shards 00:33:40.310 --> 00:33:40.320 align:start position:0% multiple shards then one of these shards 00:33:40.320 --> 00:33:41.909 align:start position:0% multiple shards then one of these shards could<00:33:40.519> sort<00:33:40.679> of<00:33:40.840> get<00:33:41.039> overwhelmed<00:33:41.679> and<00:33:41.799> then 00:33:41.909 --> 00:33:41.919 align:start position:0% could sort of get overwhelmed and then 00:33:41.919 --> 00:33:43.710 align:start position:0% could sort of get overwhelmed and then as<00:33:42.080> Dominique<00:33:42.519> say<00:33:42.760> it<00:33:42.880> could<00:33:43.120> start<00:33:43.320> sort<00:33:43.519> of 00:33:43.710 --> 00:33:43.720 align:start position:0% as Dominique say it could start sort of 00:33:43.720 --> 00:33:46.310 align:start position:0% as Dominique say it could start sort of exporting<00:33:44.200> bad<00:33:44.399> data<00:33:44.639> to<00:33:44.760> the<00:33:44.880> other<00:33:45.159> shards 00:33:46.310 --> 00:33:46.320 align:start position:0% exporting bad data to the other shards 00:33:46.320 --> 00:33:49.029 align:start position:0% exporting bad data to the other shards so<00:33:47.320> that's<00:33:47.639> one<00:33:48.000> bad<00:33:48.240> way<00:33:48.360> of<00:33:48.480> solving 00:33:49.029 --> 00:33:49.039 align:start position:0% so that's one bad way of solving 00:33:49.039 --> 00:33:51.430 align:start position:0% so that's one bad way of solving scalability<00:33:50.039> another<00:33:50.519> bad<00:33:50.720> way<00:33:50.880> of<00:33:51.039> solving 00:33:51.430 --> 00:33:51.440 align:start position:0% scalability another bad way of solving 00:33:51.440 --> 00:33:54.110 align:start position:0% scalability another bad way of solving scalability<00:33:52.399> is<00:33:52.880> is<00:33:53.080> basically<00:33:53.799> you<00:33:53.919> know 00:33:54.110 --> 00:33:54.120 align:start position:0% scalability is is basically you know 00:33:54.120 --> 00:33:56.310 align:start position:0% scalability is is basically you know merge<00:33:54.440> mining<00:33:55.200> so<00:33:55.360> you<00:33:55.440> know<00:33:55.559> merge<00:33:55.799> mining<00:33:56.120> is 00:33:56.310 --> 00:33:56.320 align:start position:0% merge mining so you know merge mining is 00:33:56.320 --> 00:33:57.990 align:start position:0% merge mining so you know merge mining is definitely<00:33:56.679> a<00:33:57.120> you<00:33:57.200> know<00:33:57.320> a<00:33:57.480> decent<00:33:57.799> thing 00:33:57.990 --> 00:33:58.000 align:start position:0% definitely a you know a decent thing 00:33:58.000 --> 00:34:00.070 align:start position:0% definitely a you know a decent thing that<00:33:58.120> has<00:33:58.240> a<00:33:58.360> lot<00:33:58.519> of<00:33:58.639> uses<00:33:59.000> that<00:33:59.159> was<00:33:59.279> used<00:33:59.559> to 00:34:00.070 --> 00:34:00.080 align:start position:0% that has a lot of uses that was used to 00:34:00.080 --> 00:34:01.909 align:start position:0% that has a lot of uses that was used to and<00:34:00.200> it<00:34:00.320> still<00:34:00.600> is<00:34:00.720> used<00:34:00.919> to<00:34:01.039> secure<00:34:01.399> name<00:34:01.639> coin 00:34:01.909 --> 00:34:01.919 align:start position:0% and it still is used to secure name coin 00:34:01.919 --> 00:34:04.310 align:start position:0% and it still is used to secure name coin but<00:34:02.080> the<00:34:02.240> problem<00:34:02.519> with<00:34:02.720> using<00:34:03.039> it<00:34:03.279> for 00:34:04.310 --> 00:34:04.320 align:start position:0% but the problem with using it for 00:34:04.320 --> 00:34:08.270 align:start position:0% but the problem with using it for scalability<00:34:05.320> is<00:34:05.679> that<00:34:06.679> right<00:34:07.360> basically 00:34:08.270 --> 00:34:08.280 align:start position:0% scalability is that right basically 00:34:08.280 --> 00:34:10.790 align:start position:0% scalability is that right basically let's<00:34:08.560> imagine<00:34:09.159> that<00:34:09.639> we<00:34:09.800> have<00:34:09.960> a<00:34:10.119> world<00:34:10.520> where 00:34:10.790 --> 00:34:10.800 align:start position:0% let's imagine that we have a world where 00:34:10.800 --> 00:34:12.430 align:start position:0% let's imagine that we have a world where people<00:34:11.119> wants<00:34:11.480> to<00:34:11.720> have<00:34:12.000> basically<00:34:12.320> a 00:34:12.430 --> 00:34:12.440 align:start position:0% people wants to have basically a 00:34:12.440 --> 00:34:13.909 align:start position:0% people wants to have basically a gigabyte<00:34:12.800> worth<00:34:13.000> of<00:34:13.119> transactions<00:34:13.679> every 00:34:13.909 --> 00:34:13.919 align:start position:0% gigabyte worth of transactions every 00:34:13.919 --> 00:34:16.190 align:start position:0% gigabyte worth of transactions every block<00:34:14.879> one<00:34:15.119> approach<00:34:15.480> is<00:34:15.720> well<00:34:15.879> let's<00:34:16.040> just 00:34:16.190 --> 00:34:16.200 align:start position:0% block one approach is well let's just 00:34:16.200 --> 00:34:17.629 align:start position:0% block one approach is well let's just bump<00:34:16.440> up<00:34:16.560> the<00:34:16.679> block<00:34:16.919> size<00:34:17.159> limit<00:34:17.399> to<00:34:17.520> a 00:34:17.629 --> 00:34:17.639 align:start position:0% bump up the block size limit to a 00:34:17.639 --> 00:34:20.190 align:start position:0% bump up the block size limit to a gigabyte<00:34:18.159> done<00:34:18.879> every<00:34:19.359> every<00:34:19.480> full<00:34:19.760> node<00:34:20.079> has 00:34:20.190 --> 00:34:20.200 align:start position:0% gigabyte done every every full node has 00:34:20.200 --> 00:34:22.389 align:start position:0% gigabyte done every every full node has to<00:34:20.359> process<00:34:20.639> a<00:34:20.760> gigaby<00:34:21.159> every<00:34:21.320> 10<00:34:21.520> minutes 00:34:22.389 --> 00:34:22.399 align:start position:0% to process a gigaby every 10 minutes 00:34:22.399 --> 00:34:25.510 align:start position:0% to process a gigaby every 10 minutes another<00:34:22.839> approach<00:34:23.359> is<00:34:23.560> to<00:34:23.800> say<00:34:24.320> well<00:34:25.320> okay 00:34:25.510 --> 00:34:25.520 align:start position:0% another approach is to say well okay 00:34:25.520 --> 00:34:27.230 align:start position:0% another approach is to say well okay we're<00:34:25.720> going<00:34:25.839> to<00:34:26.000> do<00:34:26.240> we're<00:34:26.359> going<00:34:26.440> to<00:34:26.560> merge<00:34:27.040> m 00:34:27.230 --> 00:34:27.240 align:start position:0% we're going to do we're going to merge m 00:34:27.240 --> 00:34:28.990 align:start position:0% we're going to do we're going to merge m a<00:34:27.359> thousand<00:34:27.800> side<00:34:28.000> chains<00:34:28.399> and<00:34:28.599> each<00:34:28.720> of<00:34:28.839> the 00:34:28.990 --> 00:34:29.000 align:start position:0% a thousand side chains and each of the 00:34:29.000 --> 00:34:30.470 align:start position:0% a thousand side chains and each of the side<00:34:29.200> chains<00:34:29.480> is<00:34:29.599> going<00:34:29.679> to<00:34:29.839> have<00:34:30.079> a<00:34:30.200> block 00:34:30.470 --> 00:34:30.480 align:start position:0% side chains is going to have a block 00:34:30.480 --> 00:34:32.430 align:start position:0% side chains is going to have a block limit<00:34:30.679> of<00:34:30.760> a<00:34:30.879> megabyte<00:34:31.800> but<00:34:31.919> then<00:34:32.040> the<00:34:32.159> problem 00:34:32.430 --> 00:34:32.440 align:start position:0% limit of a megabyte but then the problem 00:34:32.440 --> 00:34:34.790 align:start position:0% limit of a megabyte but then the problem is<00:34:32.599> that<00:34:32.760> for<00:34:33.000> a<00:34:33.200> side<00:34:33.399> chain<00:34:33.639> to<00:34:33.760> be<00:34:33.960> secure<00:34:34.639> it 00:34:34.790 --> 00:34:34.800 align:start position:0% is that for a side chain to be secure it 00:34:34.800 --> 00:34:36.710 align:start position:0% is that for a side chain to be secure it has<00:34:34.960> to<00:34:35.040> be<00:34:35.159> merg<00:34:35.520> mines<00:34:36.000> basically<00:34:36.440> by<00:34:36.599> you 00:34:36.710 --> 00:34:36.720 align:start position:0% has to be merg mines basically by you 00:34:36.720 --> 00:34:39.030 align:start position:0% has to be merg mines basically by you know<00:34:36.960> almost<00:34:37.240> all<00:34:37.359> of<00:34:37.480> the<00:34:37.639> miners<00:34:38.520> and<00:34:38.679> so 00:34:39.030 --> 00:34:39.040 align:start position:0% know almost all of the miners and so 00:34:39.040 --> 00:34:40.710 align:start position:0% know almost all of the miners and so almost<00:34:39.359> all<00:34:39.440> of<00:34:39.560> the<00:34:39.639> miners<00:34:40.079> still<00:34:40.359> basically 00:34:40.710 --> 00:34:40.720 align:start position:0% almost all of the miners still basically 00:34:40.720 --> 00:34:42.909 align:start position:0% almost all of the miners still basically have<00:34:40.839> to<00:34:41.040> process<00:34:41.280> a<00:34:41.399> gigabyte<00:34:41.800> every<00:34:42.000> block 00:34:42.909 --> 00:34:42.919 align:start position:0% have to process a gigabyte every block 00:34:42.919 --> 00:34:45.190 align:start position:0% have to process a gigabyte every block so<00:34:43.919> that<00:34:44.119> is<00:34:44.280> one<00:34:44.399> of<00:34:44.520> those<00:34:44.679> solutions<00:34:45.079> that 00:34:45.190 --> 00:34:45.200 align:start position:0% so that is one of those solutions that 00:34:45.200 --> 00:34:46.589 align:start position:0% so that is one of those solutions that sort<00:34:45.320> of<00:34:45.480> doesn't<00:34:45.800> actually<00:34:46.079> solve<00:34:46.399> the 00:34:46.589 --> 00:34:46.599 align:start position:0% sort of doesn't actually solve the 00:34:46.599 --> 00:34:50.470 align:start position:0% sort of doesn't actually solve the problem<00:34:47.520> so<00:34:48.240> the<00:34:48.520> challenge<00:34:49.200> is<00:34:50.200> now<00:34:50.359> of 00:34:50.470 --> 00:34:50.480 align:start position:0% problem so the challenge is now of 00:34:50.480 --> 00:34:52.069 align:start position:0% problem so the challenge is now of course<00:34:50.639> you<00:34:50.720> know<00:34:50.919> side<00:34:51.119> chains<00:34:51.480> definitely 00:34:52.069 --> 00:34:52.079 align:start position:0% course you know side chains definitely 00:34:52.079 --> 00:34:53.909 align:start position:0% course you know side chains definitely are<00:34:52.399> you<00:34:52.520> know<00:34:52.800> they<00:34:52.919> do<00:34:53.159> have<00:34:53.359> value<00:34:53.800> but 00:34:53.909 --> 00:34:53.919 align:start position:0% are you know they do have value but 00:34:53.919 --> 00:34:55.510 align:start position:0% are you know they do have value but they're<00:34:54.159> more<00:34:54.720> but<00:34:54.839> you<00:34:54.919> know<00:34:55.119> even<00:34:55.359> by 00:34:55.510 --> 00:34:55.520 align:start position:0% they're more but you know even by 00:34:55.520 --> 00:34:56.950 align:start position:0% they're more but you know even by blockchain<00:34:56.079> themselves<00:34:56.399> I<00:34:56.520> think<00:34:56.599> they've 00:34:56.950 --> 00:34:56.960 align:start position:0% blockchain themselves I think they've 00:34:56.960 --> 00:34:58.310 align:start position:0% blockchain themselves I think they've always<00:34:57.079> been<00:34:57.200> marketed<00:34:57.599> from<00:34:57.720> the<00:34:57.839> start<00:34:58.079> as<00:34:58.160> a 00:34:58.310 --> 00:34:58.320 align:start position:0% always been marketed from the start as a 00:34:58.320 --> 00:34:59.750 align:start position:0% always been marketed from the start as a functionality<00:34:58.920> solution<00:34:59.320> and<00:34:59.440> not<00:34:59.599> a 00:34:59.750 --> 00:34:59.760 align:start position:0% functionality solution and not a 00:34:59.760 --> 00:35:03.230 align:start position:0% functionality solution and not a scalability<00:35:00.440> solution<00:35:01.440> so<00:35:02.320> for<00:35:02.599> scalability 00:35:03.230 --> 00:35:03.240 align:start position:0% scalability solution so for scalability 00:35:03.240 --> 00:35:04.750 align:start position:0% scalability solution so for scalability we<00:35:03.400> have<00:35:03.480> to<00:35:03.640> figure<00:35:03.880> out<00:35:04.119> exactly<00:35:04.480> how<00:35:04.599> the 00:35:04.750 --> 00:35:04.760 align:start position:0% we have to figure out exactly how the 00:35:04.760 --> 00:35:06.190 align:start position:0% we have to figure out exactly how the validation<00:35:05.160> is<00:35:05.280> going<00:35:05.359> to<00:35:05.520> work<00:35:05.760> you<00:35:05.880> know<00:35:06.079> I 00:35:06.190 --> 00:35:06.200 align:start position:0% validation is going to work you know I 00:35:06.200 --> 00:35:08.190 align:start position:0% validation is going to work you know I think<00:35:06.800> the<00:35:06.960> solution<00:35:07.480> definitely<00:35:07.880> is<00:35:08.040> going 00:35:08.190 --> 00:35:08.200 align:start position:0% think the solution definitely is going 00:35:08.200 --> 00:35:10.310 align:start position:0% think the solution definitely is going to<00:35:08.359> involve<00:35:08.760> some<00:35:09.000> kind 00:35:10.310 --> 00:35:10.320 align:start position:0% to involve some kind 00:35:10.320 --> 00:35:13.390 align:start position:0% to involve some kind of<00:35:11.320> global<00:35:11.760> validation<00:35:12.599> involving<00:35:13.079> random 00:35:13.390 --> 00:35:13.400 align:start position:0% of global validation involving random 00:35:13.400 --> 00:35:16.349 align:start position:0% of global validation involving random selections<00:35:14.200> But<00:35:14.880> ultimately<00:35:15.640> actually<00:35:16.040> I<00:35:16.160> do 00:35:16.349 --> 00:35:16.359 align:start position:0% selections But ultimately actually I do 00:35:16.359 --> 00:35:17.750 align:start position:0% selections But ultimately actually I do think<00:35:16.599> this<00:35:16.760> sort<00:35:16.920> of<00:35:17.119> compositional 00:35:17.750 --> 00:35:17.760 align:start position:0% think this sort of compositional 00:35:17.760 --> 00:35:22.109 align:start position:0% think this sort of compositional recursive<00:35:18.640> approach<00:35:19.640> is<00:35:19.839> the<00:35:19.960> way<00:35:20.119> to<00:35:20.359> go<00:35:21.359> and 00:35:22.109 --> 00:35:22.119 align:start position:0% recursive approach is the way to go and 00:35:22.119 --> 00:35:24.550 align:start position:0% recursive approach is the way to go and if<00:35:22.240> you're<00:35:22.520> also<00:35:22.760> if<00:35:22.880> you're<00:35:23.000> doing<00:35:23.480> a<00:35:24.000> global 00:35:24.550 --> 00:35:24.560 align:start position:0% if you're also if you're doing a global 00:35:24.560 --> 00:35:27.030 align:start position:0% if you're also if you're doing a global composition<00:35:25.240> compositional<00:35:25.839> recursion<00:35:26.440> then 00:35:27.030 --> 00:35:27.040 align:start position:0% composition compositional recursion then 00:35:27.040 --> 00:35:28.870 align:start position:0% composition compositional recursion then the<00:35:27.200> number<00:35:27.440> of<00:35:27.560> spokes<00:35:28.000> per<00:35:28.240> Hub<00:35:28.520> you<00:35:28.599> know 00:35:28.870 --> 00:35:28.880 align:start position:0% the number of spokes per Hub you know 00:35:28.880 --> 00:35:30.430 align:start position:0% the number of spokes per Hub you know just<00:35:29.359> might<00:35:29.560> as<00:35:29.680> well<00:35:29.839> be<00:35:30.000> the<00:35:30.119> computer 00:35:30.430 --> 00:35:30.440 align:start position:0% just might as well be the computer 00:35:30.440 --> 00:35:33.349 align:start position:0% just might as well be the computer scientist<00:35:30.960> favorite<00:35:31.240> number<00:35:31.480> of<00:35:31.640> two 00:35:33.349 --> 00:35:33.359 align:start position:0% scientist favorite number of two 00:35:33.359 --> 00:35:35.630 align:start position:0% scientist favorite number of two so<00:35:34.359> cool 00:35:35.630 --> 00:35:35.640 align:start position:0% so cool 00:35:35.640 --> 00:35:39.829 align:start position:0% so cool yeah<00:35:36.640> um<00:35:37.160> so<00:35:38.160> kind<00:35:38.280> of<00:35:38.920> tying<00:35:39.440> some<00:35:39.599> of<00:35:39.680> this 00:35:39.829 --> 00:35:39.839 align:start position:0% yeah um so kind of tying some of this 00:35:39.839 --> 00:35:41.510 align:start position:0% yeah um so kind of tying some of this discussion<00:35:40.200> back<00:35:40.359> to<00:35:40.560> my<00:35:40.839> presentation<00:35:41.240> about 00:35:41.510 --> 00:35:41.520 align:start position:0% discussion back to my presentation about 00:35:41.520 --> 00:35:43.470 align:start position:0% discussion back to my presentation about like<00:35:41.720> making<00:35:41.960> these<00:35:42.160> systems<00:35:42.520> work<00:35:43.040> in<00:35:43.320> a 00:35:43.470 --> 00:35:43.480 align:start position:0% like making these systems work in a 00:35:43.480 --> 00:35:45.150 align:start position:0% like making these systems work in a context<00:35:43.880> where<00:35:44.040> a<00:35:44.200> majority<00:35:44.560> of<00:35:44.680> nodes<00:35:45.000> might 00:35:45.150 --> 00:35:45.160 align:start position:0% context where a majority of nodes might 00:35:45.160 --> 00:35:47.790 align:start position:0% context where a majority of nodes might be<00:35:45.440> rational<00:35:45.800> and<00:35:46.119> colluding 00:35:47.790 --> 00:35:47.800 align:start position:0% be rational and colluding 00:35:47.800 --> 00:35:49.870 align:start position:0% be rational and colluding um<00:35:48.800> it's<00:35:48.960> really<00:35:49.200> important<00:35:49.480> to<00:35:49.680> have 00:35:49.870 --> 00:35:49.880 align:start position:0% um it's really important to have 00:35:49.880 --> 00:35:52.270 align:start position:0% um it's really important to have Randomness<00:35:50.599> that<00:35:51.520> uh<00:35:51.680> has<00:35:51.800> it<00:35:51.960> like<00:35:52.079> one<00:35:52.200> of 00:35:52.270 --> 00:35:52.280 align:start position:0% Randomness that uh has it like one of 00:35:52.280 --> 00:35:54.230 align:start position:0% Randomness that uh has it like one of these<00:35:52.440> security<00:35:52.760> models<00:35:53.160> where<00:35:53.400> any<00:35:53.640> one<00:35:54.040> or 00:35:54.230 --> 00:35:54.240 align:start position:0% these security models where any one or 00:35:54.240 --> 00:35:56.910 align:start position:0% these security models where any one or any<00:35:54.640> small<00:35:55.000> number<00:35:55.720> I<00:35:55.839> preferably<00:35:56.319> one<00:35:56.520> Noe 00:35:56.910 --> 00:35:56.920 align:start position:0% any small number I preferably one Noe 00:35:56.920 --> 00:35:58.550 align:start position:0% any small number I preferably one Noe who<00:35:57.040> isn't<00:35:57.280> colluding<00:35:57.599> with<00:35:57.760> everyone<00:35:58.040> else 00:35:58.550 --> 00:35:58.560 align:start position:0% who isn't colluding with everyone else 00:35:58.560 --> 00:36:00.870 align:start position:0% who isn't colluding with everyone else could<00:35:58.839> cause<00:35:59.680> uh<00:35:59.880> the<00:36:00.240> entropy<00:36:00.680> to<00:36:00.760> be 00:36:00.870 --> 00:36:00.880 align:start position:0% could cause uh the entropy to be 00:36:00.880 --> 00:36:03.510 align:start position:0% could cause uh the entropy to be nonpredictable<00:36:01.599> um<00:36:02.599> and<00:36:02.720> there<00:36:02.800> is<00:36:03.000> a<00:36:03.440> there 00:36:03.510 --> 00:36:03.520 align:start position:0% nonpredictable um and there is a there 00:36:03.520 --> 00:36:05.829 align:start position:0% nonpredictable um and there is a there is<00:36:03.640> a<00:36:03.880> randow<00:36:04.880> project<00:36:05.280> that<00:36:05.359> is<00:36:05.480> working<00:36:05.720> on 00:36:05.829 --> 00:36:05.839 align:start position:0% is a randow project that is working on 00:36:05.839 --> 00:36:08.630 align:start position:0% is a randow project that is working on one<00:36:05.920> of<00:36:06.040> these<00:36:06.160> systems<00:36:06.599> where<00:36:07.200> everyone<00:36:07.720> who 00:36:08.630 --> 00:36:08.640 align:start position:0% one of these systems where everyone who 00:36:08.640 --> 00:36:11.109 align:start position:0% one of these systems where everyone who is<00:36:09.200> part<00:36:09.359> of<00:36:09.520> the<00:36:09.839> random<00:36:10.319> number<00:36:10.599> generator 00:36:11.109 --> 00:36:11.119 align:start position:0% is part of the random number generator 00:36:11.119 --> 00:36:12.430 align:start position:0% is part of the random number generator has<00:36:11.240> to<00:36:11.359> place<00:36:11.520> a<00:36:11.599> security<00:36:11.960> deposit<00:36:12.319> and 00:36:12.430 --> 00:36:12.440 align:start position:0% has to place a security deposit and 00:36:12.440 --> 00:36:14.990 align:start position:0% has to place a security deposit and reveal<00:36:12.839> a<00:36:13.280> commitment<00:36:14.280> and<00:36:14.560> if<00:36:14.680> they<00:36:14.800> don't 00:36:14.990 --> 00:36:15.000 align:start position:0% reveal a commitment and if they don't 00:36:15.000 --> 00:36:17.150 align:start position:0% reveal a commitment and if they don't reveal<00:36:15.400> then<00:36:15.520> they<00:36:15.640> lose<00:36:15.839> their<00:36:16.040> deposit<00:36:16.599> but 00:36:17.150 --> 00:36:17.160 align:start position:0% reveal then they lose their deposit but 00:36:17.160 --> 00:36:21.589 align:start position:0% reveal then they lose their deposit but if<00:36:18.160> but<00:36:18.319> any<00:36:18.520> one<00:36:18.680> of<00:36:18.880> them<00:36:19.119> could<00:36:19.760> stop<00:36:20.760> uh 00:36:21.589 --> 00:36:21.599 align:start position:0% if but any one of them could stop uh 00:36:21.599 --> 00:36:24.430 align:start position:0% if but any one of them could stop uh everyone<00:36:21.960> else<00:36:22.240> from<00:36:23.079> secretly<00:36:24.079> sharing 00:36:24.430 --> 00:36:24.440 align:start position:0% everyone else from secretly sharing 00:36:24.440 --> 00:36:26.150 align:start position:0% everyone else from secretly sharing their<00:36:24.800> commitments<00:36:25.319> in<00:36:25.400> order<00:36:25.640> to<00:36:25.800> produce 00:36:26.150 --> 00:36:26.160 align:start position:0% their commitments in order to produce 00:36:26.160 --> 00:36:29.270 align:start position:0% their commitments in order to produce randomness<00:36:27.160> so<00:36:28.119> uh<00:36:28.280> and<00:36:28.640> and<00:36:28.760> additionally 00:36:29.270 --> 00:36:29.280 align:start position:0% randomness so uh and and additionally 00:36:29.280 --> 00:36:34.109 align:start position:0% randomness so uh and and additionally for<00:36:29.560> the<00:36:30.520> um<00:36:31.079> validation<00:36:31.680> thing<00:36:31.960> ALS<00:36:32.800> also<00:36:33.800> if 00:36:34.109 --> 00:36:34.119 align:start position:0% for the um validation thing ALS also if 00:36:34.119 --> 00:36:35.870 align:start position:0% for the um validation thing ALS also if you<00:36:34.200> know<00:36:34.480> a<00:36:34.720> large<00:36:34.960> percentage<00:36:35.319> of<00:36:35.400> the<00:36:35.520> nodes 00:36:35.870 --> 00:36:35.880 align:start position:0% you know a large percentage of the nodes 00:36:35.880 --> 00:36:40.510 align:start position:0% you know a large percentage of the nodes are<00:36:36.640> are<00:36:37.359> are<00:36:37.839> colluding<00:36:38.839> um<00:36:39.240> then<00:36:39.480> this<00:36:39.680> kind 00:36:40.510 --> 00:36:40.520 align:start position:0% are are are colluding um then this kind 00:36:40.520 --> 00:36:44.109 align:start position:0% are are are colluding um then this kind of<00:36:41.520> escalation<00:36:42.480> and<00:36:43.119> uh<00:36:43.280> subjectivity<00:36:43.880> become 00:36:44.109 --> 00:36:44.119 align:start position:0% of escalation and uh subjectivity become 00:36:44.119 --> 00:36:45.750 align:start position:0% of escalation and uh subjectivity become really<00:36:44.319> important<00:36:44.680> parts<00:36:44.880> of<00:36:44.960> the 00:36:45.750 --> 00:36:45.760 align:start position:0% really important parts of the 00:36:45.760 --> 00:36:48.030 align:start position:0% really important parts of the solution<00:36:46.760> um<00:36:47.040> one<00:36:47.240> thing<00:36:47.480> though<00:36:47.680> that<00:36:47.880> that 00:36:48.030 --> 00:36:48.040 align:start position:0% solution um one thing though that that 00:36:48.040 --> 00:36:50.309 align:start position:0% solution um one thing though that that I'm<00:36:48.599> hoping<00:36:49.119> that<00:36:49.240> we'd<00:36:49.480> talk<00:36:49.720> about<00:36:50.040> a<00:36:50.119> little 00:36:50.309 --> 00:36:50.319 align:start position:0% I'm hoping that we'd talk about a little 00:36:50.319 --> 00:36:54.710 align:start position:0% I'm hoping that we'd talk about a little bit<00:36:50.480> more<00:36:51.359> uh<00:36:51.560> is<00:36:52.040> the<00:36:52.240> idea<00:36:52.760> of<00:36:53.640> um<00:36:54.000> to<00:36:54.359> to<00:36:54.560> what 00:36:54.710 --> 00:36:54.720 align:start position:0% bit more uh is the idea of um to to what 00:36:54.720 --> 00:36:57.870 align:start position:0% bit more uh is the idea of um to to what extent<00:36:55.119> can<00:36:55.319> we<00:36:56.040> provide<00:36:56.319> a<00:36:56.400> general<00:36:56.839> purpose 00:36:57.870 --> 00:36:57.880 align:start position:0% extent can we provide a general purpose 00:36:57.880 --> 00:37:00.910 align:start position:0% extent can we provide a general purpose platform<00:36:58.880> that<00:36:59.280> we<00:36:59.520> can<00:36:59.800> reason<00:37:00.240> about<00:37:00.680> how 00:37:00.910 --> 00:37:00.920 align:start position:0% platform that we can reason about how 00:37:00.920 --> 00:37:03.430 align:start position:0% platform that we can reason about how the<00:37:01.520> shards<00:37:02.040> communicate<00:37:02.440> to<00:37:02.599> each<00:37:02.720> other<00:37:03.160> by 00:37:03.430 --> 00:37:03.440 align:start position:0% the shards communicate to each other by 00:37:03.440 --> 00:37:06.750 align:start position:0% the shards communicate to each other by requiring<00:37:03.960> developers<00:37:04.440> to<00:37:04.720> kind<00:37:04.839> of<00:37:05.640> uh<00:37:05.880> add 00:37:06.750 --> 00:37:06.760 align:start position:0% requiring developers to kind of uh add 00:37:06.760 --> 00:37:08.069 align:start position:0% requiring developers to kind of uh add give<00:37:06.920> us<00:37:07.079> more<00:37:07.319> information<00:37:07.760> about<00:37:07.960> what 00:37:08.069 --> 00:37:08.079 align:start position:0% give us more information about what 00:37:08.079 --> 00:37:09.829 align:start position:0% give us more information about what their<00:37:08.240> contracts<00:37:08.599> will<00:37:08.760> do<00:37:09.240> at<00:37:09.520> when<00:37:09.680> they 00:37:09.829 --> 00:37:09.839 align:start position:0% their contracts will do at when they 00:37:09.839 --> 00:37:14.109 align:start position:0% their contracts will do at when they deploy<00:37:10.200> them<00:37:11.079> MH<00:37:12.079> sure<00:37:12.760> um<00:37:13.400> Martin<00:37:13.839> you<00:37:14.000> like 00:37:14.109 --> 00:37:14.119 align:start position:0% deploy them MH sure um Martin you like 00:37:14.119 --> 00:37:17.390 align:start position:0% deploy them MH sure um Martin you like to<00:37:14.240> comment<00:37:14.480> on 00:37:17.390 --> 00:37:17.400 align:start position:0% 00:37:17.400 --> 00:37:19.230 align:start position:0% that<00:37:18.400> yeah<00:37:18.520> I<00:37:18.640> guess<00:37:18.760> there's<00:37:18.920> several 00:37:19.230 --> 00:37:19.240 align:start position:0% that yeah I guess there's several 00:37:19.240 --> 00:37:20.910 align:start position:0% that yeah I guess there's several methods<00:37:19.520> of<00:37:20.040> uh<00:37:20.160> doing<00:37:20.400> that<00:37:20.560> and<00:37:20.720> I<00:37:20.800> think 00:37:20.910 --> 00:37:20.920 align:start position:0% methods of uh doing that and I think 00:37:20.920 --> 00:37:23.309 align:start position:0% methods of uh doing that and I think you're<00:37:21.119> probably<00:37:21.440> thinking<00:37:21.880> of<00:37:22.240> like<00:37:22.920> more 00:37:23.309 --> 00:37:23.319 align:start position:0% you're probably thinking of like more 00:37:23.319 --> 00:37:26.710 align:start position:0% you're probably thinking of like more formal<00:37:23.720> proof<00:37:24.119> like<00:37:24.960> uh<00:37:25.160> seeing<00:37:25.680> like<00:37:25.960> what 00:37:26.710 --> 00:37:26.720 align:start position:0% formal proof like uh seeing like what 00:37:26.720 --> 00:37:29.270 align:start position:0% formal proof like uh seeing like what contracts<00:37:27.200> is<00:37:27.319> going<00:37:27.480> to<00:37:27.880> call<00:37:28.079> out<00:37:28.319> to<00:37:28.960> and 00:37:29.270 --> 00:37:29.280 align:start position:0% contracts is going to call out to and 00:37:29.280 --> 00:37:31.630 align:start position:0% contracts is going to call out to and like<00:37:29.880> doing<00:37:30.160> type<00:37:30.440> matching<00:37:31.280> is<00:37:31.400> that<00:37:31.560> what 00:37:31.630 --> 00:37:31.640 align:start position:0% like doing type matching is that what 00:37:31.640 --> 00:37:35.270 align:start position:0% like doing type matching is that what you're<00:37:31.760> thinking<00:37:32.160> right<00:37:33.160> yeah 00:37:35.270 --> 00:37:35.280 align:start position:0% you're thinking right yeah 00:37:35.280 --> 00:37:38.349 align:start position:0% you're thinking right yeah um<00:37:36.280> I'm<00:37:36.440> not<00:37:36.680> I'm<00:37:36.800> not<00:37:37.000> convinced<00:37:37.720> yet<00:37:38.040> that's 00:37:38.349 --> 00:37:38.359 align:start position:0% um I'm not I'm not convinced yet that's 00:37:38.359 --> 00:37:41.150 align:start position:0% um I'm not I'm not convinced yet that's that's<00:37:38.520> the<00:37:38.640> way<00:37:38.760> to<00:37:39.079> go<00:37:40.079> because<00:37:40.680> uh<00:37:40.880> there 00:37:41.150 --> 00:37:41.160 align:start position:0% that's the way to go because uh there 00:37:41.160 --> 00:37:44.750 align:start position:0% that's the way to go because uh there there's<00:37:41.880> uh<00:37:42.119> if<00:37:42.240> you<00:37:42.359> have<00:37:42.480> a<00:37:42.720> general<00:37:43.760> purpose 00:37:44.750 --> 00:37:44.760 align:start position:0% there's uh if you have a general purpose 00:37:44.760 --> 00:37:46.870 align:start position:0% there's uh if you have a general purpose uh<00:37:45.440> turning<00:37:45.760> complete<00:37:46.079> virtual<00:37:46.359> machine<00:37:46.680> then 00:37:46.870 --> 00:37:46.880 align:start position:0% uh turning complete virtual machine then 00:37:46.880 --> 00:37:49.910 align:start position:0% uh turning complete virtual machine then you<00:37:47.160> don't<00:37:48.160> at<00:37:48.319> some<00:37:48.520> point<00:37:48.720> you<00:37:48.839> don't<00:37:49.079> know 00:37:49.910 --> 00:37:49.920 align:start position:0% you don't at some point you don't know 00:37:49.920 --> 00:37:52.390 align:start position:0% you don't at some point you don't know what<00:37:50.079> calls<00:37:50.400> it<00:37:50.640> can<00:37:50.960> make<00:37:51.560> and<00:37:52.040> uh<00:37:52.200> should 00:37:52.390 --> 00:37:52.400 align:start position:0% what calls it can make and uh should 00:37:52.400 --> 00:37:55.630 align:start position:0% what calls it can make and uh should just<00:37:52.520> be<00:37:52.720> built<00:37:53.000> into<00:37:53.319> the<00:37:53.599> the<00:37:54.040> protocol<00:37:55.040> that 00:37:55.630 --> 00:37:55.640 align:start position:0% just be built into the the protocol that 00:37:55.640 --> 00:37:58.030 align:start position:0% just be built into the the protocol that uh<00:37:56.400> the<00:37:56.640> be<00:37:56.720> able<00:37:56.920> to<00:37:57.040> handle<00:37:57.400> that<00:37:57.720> even 00:37:58.030 --> 00:37:58.040 align:start position:0% uh the be able to handle that even 00:37:58.040 --> 00:38:00.550 align:start position:0% uh the be able to handle that even though<00:37:58.480> that<00:37:58.839> there<00:37:58.960> will<00:37:59.160> be<00:37:59.400> some<00:38:00.000> syn 00:38:00.550 --> 00:38:00.560 align:start position:0% though that there will be some syn 00:38:00.560 --> 00:38:03.150 align:start position:0% though that there will be some syn asynchronicity<00:38:01.359> and<00:38:01.480> it<00:38:01.520> will<00:38:01.720> take<00:38:02.160> longer 00:38:03.150 --> 00:38:03.160 align:start position:0% asynchronicity and it will take longer 00:38:03.160 --> 00:38:05.109 align:start position:0% asynchronicity and it will take longer but<00:38:03.280> those<00:38:03.440> will<00:38:03.599> be<00:38:03.839> have<00:38:03.960> to<00:38:04.160> be<00:38:04.800> things<00:38:05.000> you 00:38:05.109 --> 00:38:05.119 align:start position:0% but those will be have to be things you 00:38:05.119 --> 00:38:08.829 align:start position:0% but those will be have to be things you can<00:38:05.400> program<00:38:06.119> in<00:38:06.319> at<00:38:06.480> a<00:38:06.599> lower<00:38:07.240> level<00:38:08.240> sure<00:38:08.720> but 00:38:08.829 --> 00:38:08.839 align:start position:0% can program in at a lower level sure but 00:38:08.839 --> 00:38:12.349 align:start position:0% can program in at a lower level sure but I<00:38:08.920> mean<00:38:09.480> um<00:38:10.319> if<00:38:10.720> if<00:38:10.960> you<00:38:11.280> if<00:38:11.560> if<00:38:11.680> a<00:38:11.800> developer<00:38:12.200> is 00:38:12.349 --> 00:38:12.359 align:start position:0% I mean um if if you if if a developer is 00:38:12.359 --> 00:38:14.349 align:start position:0% I mean um if if you if if a developer is willing<00:38:12.680> to<00:38:12.800> tell<00:38:13.000> us<00:38:13.440> okay<00:38:13.839> you<00:38:13.960> know<00:38:14.160> this<00:38:14.240> is 00:38:14.349 --> 00:38:14.359 align:start position:0% willing to tell us okay you know this is 00:38:14.359 --> 00:38:17.349 align:start position:0% willing to tell us okay you know this is a<00:38:14.560> key<00:38:14.839> value<00:38:15.119> store<00:38:15.599> that<00:38:16.000> acts<00:38:16.280> in<00:38:16.440> this<00:38:16.680> way 00:38:17.349 --> 00:38:17.359 align:start position:0% a key value store that acts in this way 00:38:17.359 --> 00:38:20.270 align:start position:0% a key value store that acts in this way then<00:38:17.560> we<00:38:17.680> will<00:38:17.839> be<00:38:18.000> able<00:38:18.240> to<00:38:19.200> um<00:38:19.560> better<00:38:19.880> manage 00:38:20.270 --> 00:38:20.280 align:start position:0% then we will be able to um better manage 00:38:20.280 --> 00:38:22.069 align:start position:0% then we will be able to um better manage the<00:38:20.400> different<00:38:20.760> like<00:38:20.880> shards<00:38:21.400> of<00:38:21.640> of<00:38:21.839> that 00:38:22.069 --> 00:38:22.079 align:start position:0% the different like shards of of that 00:38:22.079 --> 00:38:23.790 align:start position:0% the different like shards of of that particular<00:38:22.520> application<00:38:23.400> because<00:38:23.599> we'll 00:38:23.790 --> 00:38:23.800 align:start position:0% particular application because we'll 00:38:23.800 --> 00:38:25.710 align:start position:0% particular application because we'll have<00:38:24.000> information<00:38:24.520> about<00:38:25.160> uh<00:38:25.280> you<00:38:25.400> know<00:38:25.599> the 00:38:25.710 --> 00:38:25.720 align:start position:0% have information about uh you know the 00:38:25.720 --> 00:38:28.510 align:start position:0% have information about uh you know the fact<00:38:25.960> that<00:38:26.599> transactions<00:38:27.000> are<00:38:27.520> commutative 00:38:28.510 --> 00:38:28.520 align:start position:0% fact that transactions are commutative 00:38:28.520 --> 00:38:29.829 align:start position:0% fact that transactions are commutative for<00:38:28.680> example<00:38:29.119> if<00:38:29.200> they<00:38:29.319> don't<00:38:29.520> affect<00:38:29.720> the 00:38:29.829 --> 00:38:29.839 align:start position:0% for example if they don't affect the 00:38:29.839 --> 00:38:32.750 align:start position:0% for example if they don't affect the same<00:38:30.000> key<00:38:30.680> right<00:38:31.440> right<00:38:31.599> so<00:38:31.960> yeah<00:38:32.079> sure<00:38:32.440> we<00:38:32.640> we 00:38:32.750 --> 00:38:32.760 align:start position:0% same key right right so yeah sure we we 00:38:32.760 --> 00:38:34.349 align:start position:0% same key right right so yeah sure we we we<00:38:32.839> can<00:38:33.000> imagine<00:38:33.280> your<00:38:33.480> situation<00:38:34.119> right 00:38:34.349 --> 00:38:34.359 align:start position:0% we can imagine your situation right 00:38:34.359 --> 00:38:36.309 align:start position:0% we can imagine your situation right where<00:38:34.720> we<00:38:34.839> have<00:38:35.280> lots<00:38:35.520> of<00:38:35.680> transactions<00:38:36.240> that 00:38:36.309 --> 00:38:36.319 align:start position:0% where we have lots of transactions that 00:38:36.319 --> 00:38:38.829 align:start position:0% where we have lots of transactions that are<00:38:36.440> totally<00:38:36.960> communative<00:38:37.960> right<00:38:38.359> for 00:38:38.829 --> 00:38:38.839 align:start position:0% are totally communative right for 00:38:38.839 --> 00:38:43.309 align:start position:0% are totally communative right for Pacific<00:38:39.800> um<00:38:40.440> uh<00:38:40.680> Pacific<00:38:41.440> contracts<00:38:42.440> uh<00:38:43.040> yeah 00:38:43.309 --> 00:38:43.319 align:start position:0% Pacific um uh Pacific contracts uh yeah 00:38:43.319 --> 00:38:45.430 align:start position:0% Pacific um uh Pacific contracts uh yeah that's<00:38:43.680> that's<00:38:43.800> a<00:38:43.920> really<00:38:44.160> interesting 00:38:45.430 --> 00:38:45.440 align:start position:0% that's that's a really interesting 00:38:45.440 --> 00:38:48.510 align:start position:0% that's that's a really interesting concept<00:38:46.440> um<00:38:46.800> yeah<00:38:47.000> so<00:38:47.280> that'<00:38:47.440> be<00:38:47.599> cool<00:38:48.280> but 00:38:48.510 --> 00:38:48.520 align:start position:0% concept um yeah so that' be cool but 00:38:48.520 --> 00:38:50.550 align:start position:0% concept um yeah so that' be cool but like<00:38:49.400> don't<00:38:49.640> you<00:38:49.760> think<00:38:49.920> you<00:38:50.119> probably<00:38:50.280> should 00:38:50.550 --> 00:38:50.560 align:start position:0% like don't you think you probably should 00:38:50.560 --> 00:38:52.589 align:start position:0% like don't you think you probably should start<00:38:50.760> from<00:38:50.960> like<00:38:51.119> the<00:38:51.280> general<00:38:51.920> View<00:38:52.400> and 00:38:52.589 --> 00:38:52.599 align:start position:0% start from like the general View and 00:38:52.599 --> 00:38:55.950 align:start position:0% start from like the general View and then<00:38:53.599> add<00:38:54.000> the<00:38:54.240> optimization<00:38:54.920> later<00:38:55.359> or<00:38:55.839> do 00:38:55.950 --> 00:38:55.960 align:start position:0% then add the optimization later or do 00:38:55.960 --> 00:38:58.430 align:start position:0% then add the optimization later or do you<00:38:56.119> think<00:38:56.359> that<00:38:56.560> that<00:38:56.720> like<00:38:57.560> you<00:38:57.680> can<00:38:57.960> start 00:38:58.430 --> 00:38:58.440 align:start position:0% you think that that like you can start 00:38:58.440 --> 00:39:02.910 align:start position:0% you think that that like you can start from<00:38:58.680> the<00:38:58.960> view<00:38:59.760> where<00:39:01.000> um<00:39:02.000> we<00:39:02.319> have<00:39:02.680> this 00:39:02.910 --> 00:39:02.920 align:start position:0% from the view where um we have this 00:39:02.920 --> 00:39:05.030 align:start position:0% from the view where um we have this metadata<00:39:03.680> if<00:39:03.800> you<00:39:03.920> will<00:39:04.160> on<00:39:04.400> the<00:39:04.720> the 00:39:05.030 --> 00:39:05.040 align:start position:0% metadata if you will on the the 00:39:05.040 --> 00:39:07.230 align:start position:0% metadata if you will on the the contracts<00:39:06.040> well<00:39:06.359> I<00:39:06.440> mean<00:39:06.599> I<00:39:06.720> kind<00:39:06.839> of<00:39:07.000> think 00:39:07.230 --> 00:39:07.240 align:start position:0% contracts well I mean I kind of think 00:39:07.240 --> 00:39:11.510 align:start position:0% contracts well I mean I kind of think that<00:39:08.040> um<00:39:08.359> there<00:39:08.680> there's<00:39:09.119> some<00:39:09.440> extent<00:39:09.880> to 00:39:11.510 --> 00:39:11.520 align:start position:0% that um there there's some extent to 00:39:11.520 --> 00:39:13.710 align:start position:0% that um there there's some extent to which<00:39:12.520> it's<00:39:12.640> like<00:39:12.760> a<00:39:13.000> fundamental<00:39:13.480> problem 00:39:13.710 --> 00:39:13.720 align:start position:0% which it's like a fundamental problem 00:39:13.720 --> 00:39:15.030 align:start position:0% which it's like a fundamental problem that<00:39:13.839> you<00:39:13.920> can<00:39:14.000> have<00:39:14.119> a<00:39:14.240> contract<00:39:14.560> call<00:39:14.839> every 00:39:15.030 --> 00:39:15.040 align:start position:0% that you can have a contract call every 00:39:15.040 --> 00:39:16.910 align:start position:0% that you can have a contract call every other<00:39:15.280> contract<00:39:16.079> and<00:39:16.280> that<00:39:16.440> the<00:39:16.560> other<00:39:16.760> if 00:39:16.910 --> 00:39:16.920 align:start position:0% other contract and that the other if 00:39:16.920 --> 00:39:18.670 align:start position:0% other contract and that the other if another<00:39:17.200> contract<00:39:17.599> relies<00:39:17.960> on<00:39:18.119> the<00:39:18.280> data<00:39:18.560> they 00:39:18.670 --> 00:39:18.680 align:start position:0% another contract relies on the data they 00:39:18.680 --> 00:39:21.069 align:start position:0% another contract relies on the data they get<00:39:18.839> from<00:39:19.079> this<00:39:19.240> one<00:39:19.640> this<00:39:19.760> one<00:39:20.000> contract<00:39:20.800> um 00:39:21.069 --> 00:39:21.079 align:start position:0% get from this one this one contract um 00:39:21.079 --> 00:39:22.710 align:start position:0% get from this one this one contract um and<00:39:21.200> then<00:39:21.599> if<00:39:21.800> you're<00:39:21.960> using<00:39:22.200> asynchronous 00:39:22.710 --> 00:39:22.720 align:start position:0% and then if you're using asynchronous 00:39:22.720 --> 00:39:25.270 align:start position:0% and then if you're using asynchronous calls<00:39:23.119> and<00:39:23.319> that<00:39:23.839> that<00:39:24.119> call<00:39:24.440> was<00:39:24.680> created 00:39:25.270 --> 00:39:25.280 align:start position:0% calls and that that call was created 00:39:25.280 --> 00:39:26.950 align:start position:0% calls and that that call was created from<00:39:25.640> an<00:39:25.800> invalid<00:39:26.200> block 00:39:26.950 --> 00:39:26.960 align:start position:0% from an invalid block 00:39:26.960 --> 00:39:28.950 align:start position:0% from an invalid block and<00:39:27.040> then<00:39:27.200> that<00:39:27.319> block<00:39:27.560> later<00:39:27.760> gets<00:39:27.960> reverted 00:39:28.950 --> 00:39:28.960 align:start position:0% and then that block later gets reverted 00:39:28.960 --> 00:39:30.309 align:start position:0% and then that block later gets reverted uh<00:39:29.160> the<00:39:29.319> question<00:39:29.520> of<00:39:29.680> whether<00:39:29.839> or<00:39:29.960> not<00:39:30.200> that 00:39:30.309 --> 00:39:30.319 align:start position:0% uh the question of whether or not that 00:39:30.319 --> 00:39:32.470 align:start position:0% uh the question of whether or not that invalid<00:39:30.760> data<00:39:31.240> is<00:39:31.440> like<00:39:31.560> used<00:39:31.839> by<00:39:31.960> these<00:39:32.119> other 00:39:32.470 --> 00:39:32.480 align:start position:0% invalid data is like used by these other 00:39:32.480 --> 00:39:36.349 align:start position:0% invalid data is like used by these other these<00:39:32.760> other<00:39:33.760> uh<00:39:34.319> these<00:39:34.520> other<00:39:34.960> contracts<00:39:35.960> uh 00:39:36.349 --> 00:39:36.359 align:start position:0% these other uh these other contracts uh 00:39:36.359 --> 00:39:39.750 align:start position:0% these other uh these other contracts uh you<00:39:36.920> know<00:39:37.920> may<00:39:38.160> make<00:39:38.640> may<00:39:38.839> make<00:39:39.319> application 00:39:39.750 --> 00:39:39.760 align:start position:0% you know may make may make application 00:39:39.760 --> 00:39:41.790 align:start position:0% you know may make may make application developers<00:39:40.400> developers<00:39:40.960> suffer<00:39:41.319> more<00:39:41.640> than 00:39:41.790 --> 00:39:41.800 align:start position:0% developers developers suffer more than 00:39:41.800 --> 00:39:43.349 align:start position:0% developers developers suffer more than if<00:39:41.960> they<00:39:42.480> just<00:39:42.800> because<00:39:42.960> then<00:39:43.040> they<00:39:43.160> have<00:39:43.240> to 00:39:43.349 --> 00:39:43.359 align:start position:0% if they just because then they have to 00:39:43.359 --> 00:39:45.790 align:start position:0% if they just because then they have to like<00:39:43.480> deal<00:39:43.640> with<00:39:43.800> locking<00:39:44.560> as<00:39:44.680> opposed<00:39:45.040> to<00:39:45.640> and 00:39:45.790 --> 00:39:45.800 align:start position:0% like deal with locking as opposed to and 00:39:45.800 --> 00:39:47.670 align:start position:0% like deal with locking as opposed to and like<00:39:46.079> monitoring<00:39:46.599> other<00:39:46.760> shs<00:39:47.200> as<00:39:47.280> opposed<00:39:47.560> to 00:39:47.670 --> 00:39:47.680 align:start position:0% like monitoring other shs as opposed to 00:39:47.680 --> 00:39:50.270 align:start position:0% like monitoring other shs as opposed to just<00:39:47.800> kind<00:39:47.880> of<00:39:48.040> having<00:39:48.920> more<00:39:49.200> restrictions<00:39:49.839> on 00:39:50.270 --> 00:39:50.280 align:start position:0% just kind of having more restrictions on 00:39:50.280 --> 00:39:52.630 align:start position:0% just kind of having more restrictions on what<00:39:50.480> you<00:39:50.599> can<00:39:50.839> program<00:39:51.760> right<00:39:52.040> so<00:39:52.440> there 00:39:52.630 --> 00:39:52.640 align:start position:0% what you can program right so there 00:39:52.640 --> 00:39:54.390 align:start position:0% what you can program right so there there's<00:39:52.880> two<00:39:53.119> separate<00:39:53.480> issues<00:39:53.880> there<00:39:54.119> though 00:39:54.390 --> 00:39:54.400 align:start position:0% there's two separate issues there though 00:39:54.400 --> 00:39:57.910 align:start position:0% there's two separate issues there though one<00:39:54.680> one<00:39:55.000> there<00:39:55.280> is<00:39:55.599> like<00:39:56.000> um<00:39:56.800> uh<00:39:57.000> containment 00:39:57.910 --> 00:39:57.920 align:start position:0% one one there is like um uh containment 00:39:57.920 --> 00:40:00.150 align:start position:0% one one there is like um uh containment right<00:39:58.160> so<00:39:58.480> if<00:39:58.640> some<00:39:59.040> so<00:39:59.720> you're<00:39:59.839> saying 00:40:00.150 --> 00:40:00.160 align:start position:0% right so if some so you're saying 00:40:00.160 --> 00:40:02.710 align:start position:0% right so if some so you're saying assuming<00:40:00.480> a<00:40:00.720> valid<00:40:01.359> um<00:40:01.960> State<00:40:02.240> transition 00:40:02.710 --> 00:40:02.720 align:start position:0% assuming a valid um State transition 00:40:02.720 --> 00:40:05.430 align:start position:0% assuming a valid um State transition gets<00:40:02.960> through<00:40:03.400> on<00:40:03.720> another<00:40:04.400> state<00:40:04.880> or<00:40:05.079> some 00:40:05.430 --> 00:40:05.440 align:start position:0% gets through on another state or some 00:40:05.440 --> 00:40:08.950 align:start position:0% gets through on another state or some some<00:40:05.720> state<00:40:06.400> right<00:40:07.400> um<00:40:07.920> and<00:40:08.119> then<00:40:08.480> like<00:40:08.680> how<00:40:08.800> do 00:40:08.950 --> 00:40:08.960 align:start position:0% some state right um and then like how do 00:40:08.960 --> 00:40:11.550 align:start position:0% some state right um and then like how do we<00:40:09.119> revert<00:40:09.560> that<00:40:10.000> right<00:40:10.359> and<00:40:10.520> then<00:40:11.000> have<00:40:11.119> AEL 00:40:11.550 --> 00:40:11.560 align:start position:0% we revert that right and then have AEL 00:40:11.560 --> 00:40:13.870 align:start position:0% we revert that right and then have AEL has<00:40:12.160> the<00:40:12.440> the<00:40:12.760> what<00:40:12.839> is<00:40:12.960> it<00:40:13.119> called<00:40:13.319> the<00:40:13.440> cone 00:40:13.870 --> 00:40:13.880 align:start position:0% has the the what is it called the cone 00:40:13.880 --> 00:40:15.910 align:start position:0% has the the what is it called the cone of<00:40:14.319> um 00:40:15.910 --> 00:40:15.920 align:start position:0% of um 00:40:15.920 --> 00:40:19.030 align:start position:0% of um um<00:40:16.920> the<00:40:17.079> the<00:40:17.200> cone<00:40:17.480> you<00:40:17.599> have<00:40:17.720> to<00:40:17.880> revert<00:40:18.599> if<00:40:18.839> a 00:40:19.030 --> 00:40:19.040 align:start position:0% um the the cone you have to revert if a 00:40:19.040 --> 00:40:21.630 align:start position:0% um the the cone you have to revert if a bad<00:40:19.480> depc<00:40:20.160> yeah<00:40:20.319> the<00:40:20.520> dependency<00:40:21.000> cone<00:40:21.400> well<00:40:21.520> I 00:40:21.630 --> 00:40:21.640 align:start position:0% bad depc yeah the dependency cone well I 00:40:21.640 --> 00:40:23.589 align:start position:0% bad depc yeah the dependency cone well I used<00:40:21.800> to<00:40:21.960> have<00:40:22.079> the<00:40:22.240> dependency<00:40:22.680> cone<00:40:23.079> concept 00:40:23.589 --> 00:40:23.599 align:start position:0% used to have the dependency cone concept 00:40:23.599 --> 00:40:25.630 align:start position:0% used to have the dependency cone concept I<00:40:23.720> think<00:40:24.040> over<00:40:24.359> time<00:40:24.640> I've<00:40:24.880> come<00:40:25.040> to<00:40:25.240> realize 00:40:25.630 --> 00:40:25.640 align:start position:0% I think over time I've come to realize 00:40:25.640 --> 00:40:27.270 align:start position:0% I think over time I've come to realize that<00:40:25.760> the<00:40:25.880> dependency<00:40:26.440> cone<00:40:26.640> is<00:40:26.760> going<00:40:26.839> to<00:40:27.000> hit 00:40:27.270 --> 00:40:27.280 align:start position:0% that the dependency cone is going to hit 00:40:27.280 --> 00:40:28.990 align:start position:0% that the dependency cone is going to hit 100%<00:40:27.720> of<00:40:27.839> the<00:40:28.000> stage<00:40:28.280> so<00:40:28.480> quickly<00:40:28.760> you<00:40:28.880> might 00:40:28.990 --> 00:40:29.000 align:start position:0% 100% of the stage so quickly you might 00:40:29.000 --> 00:40:34.270 align:start position:0% 100% of the stage so quickly you might as<00:40:29.119> well<00:40:29.280> not<00:40:29.440> even<00:40:29.640> think<00:40:29.880> about<00:40:30.560> it<00:40:31.960> yeah<00:40:32.960> um 00:40:34.270 --> 00:40:34.280 align:start position:0% as well not even think about it yeah um 00:40:34.280 --> 00:40:37.430 align:start position:0% as well not even think about it yeah um so<00:40:35.280> right<00:40:35.480> so<00:40:35.640> if<00:40:35.800> you<00:40:36.040> you<00:40:36.200> had<00:40:36.359> a<00:40:36.599> like<00:40:36.720> a<00:40:37.079> bad 00:40:37.430 --> 00:40:37.440 align:start position:0% so right so if you you had a like a bad 00:40:37.440 --> 00:40:39.270 align:start position:0% so right so if you you had a like a bad State<00:40:37.800> transition<00:40:38.520> and<00:40:38.640> you<00:40:38.720> had<00:40:38.839> to<00:40:38.960> revert 00:40:39.270 --> 00:40:39.280 align:start position:0% State transition and you had to revert 00:40:39.280 --> 00:40:41.550 align:start position:0% State transition and you had to revert anyways<00:40:39.800> that<00:40:39.920> would<00:40:40.079> be<00:40:40.520> I<00:40:40.599> mean<00:40:40.920> yet<00:40:41.160> so<00:40:41.480> I 00:40:41.550 --> 00:40:41.560 align:start position:0% anyways that would be I mean yet so I 00:40:41.560 --> 00:40:44.150 align:start position:0% anyways that would be I mean yet so I don't<00:40:41.680> know<00:40:41.839> if<00:40:42.000> we<00:40:42.359> we<00:40:42.480> need<00:40:42.599> to<00:40:43.040> consider<00:40:44.040> the 00:40:44.150 --> 00:40:44.160 align:start position:0% don't know if we we need to consider the 00:40:44.160 --> 00:40:45.950 align:start position:0% don't know if we we need to consider the first<00:40:44.400> part<00:40:44.560> of<00:40:44.760> that<00:40:45.240> yeah<00:40:45.359> I<00:40:45.440> mean<00:40:45.640> this<00:40:45.839> I 00:40:45.950 --> 00:40:45.960 align:start position:0% first part of that yeah I mean this I 00:40:45.960 --> 00:40:47.750 align:start position:0% first part of that yeah I mean this I think<00:40:46.160> this<00:40:46.359> depends<00:40:46.800> also<00:40:47.119> on<00:40:47.319> sort<00:40:47.480> of<00:40:47.640> what 00:40:47.750 --> 00:40:47.760 align:start position:0% think this depends also on sort of what 00:40:47.760 --> 00:40:49.950 align:start position:0% think this depends also on sort of what your<00:40:48.000> underlying<00:40:48.839> security<00:40:49.280> model<00:40:49.640> is 00:40:49.950 --> 00:40:49.960 align:start position:0% your underlying security model is 00:40:49.960 --> 00:40:52.390 align:start position:0% your underlying security model is because<00:40:50.400> if<00:40:51.160> all<00:40:51.319> of<00:40:51.520> these<00:40:51.720> shards<00:40:52.200> are 00:40:52.390 --> 00:40:52.400 align:start position:0% because if all of these shards are 00:40:52.400 --> 00:40:54.150 align:start position:0% because if all of these shards are ultimately<00:40:52.920> sort<00:40:53.079> of<00:40:53.280> under<00:40:53.599> one<00:40:53.839> header 00:40:54.150 --> 00:40:54.160 align:start position:0% ultimately sort of under one header 00:40:54.160 --> 00:40:55.710 align:start position:0% ultimately sort of under one header chain<00:40:54.520> that<00:40:54.599> you<00:40:54.800> still<00:40:55.079> have<00:40:55.240> a<00:40:55.400> global 00:40:55.710 --> 00:40:55.720 align:start position:0% chain that you still have a global 00:40:55.720 --> 00:40:57.550 align:start position:0% chain that you still have a global sequencing<00:40:56.319> model<00:40:56.640> so<00:40:56.760> you<00:40:56.839> can<00:40:57.000> still<00:40:57.280> know 00:40:57.550 --> 00:40:57.560 align:start position:0% sequencing model so you can still know 00:40:57.560 --> 00:40:59.510 align:start position:0% sequencing model so you can still know that<00:40:57.720> if<00:40:58.359> one<00:40:58.560> thing<00:40:58.760> gets<00:40:59.000> reverted<00:40:59.359> then 00:40:59.510 --> 00:40:59.520 align:start position:0% that if one thing gets reverted then 00:40:59.520 --> 00:41:03.630 align:start position:0% that if one thing gets reverted then everything<00:40:59.800> after<00:41:00.040> will<00:41:00.240> get 00:41:03.630 --> 00:41:03.640 align:start position:0% 00:41:03.640 --> 00:41:06.630 align:start position:0% reverted<00:41:04.640> so<00:41:05.040> to<00:41:05.280> what<00:41:05.560> extent<00:41:05.960> do<00:41:06.079> you<00:41:06.280> think 00:41:06.630 --> 00:41:06.640 align:start position:0% reverted so to what extent do you think 00:41:06.640 --> 00:41:09.589 align:start position:0% reverted so to what extent do you think we<00:41:06.839> will<00:41:07.280> be<00:41:07.520> able<00:41:07.839> to<00:41:08.119> keep<00:41:08.560> the<00:41:08.880> notion<00:41:09.319> of 00:41:09.589 --> 00:41:09.599 align:start position:0% we will be able to keep the notion of 00:41:09.599 --> 00:41:12.270 align:start position:0% we will be able to keep the notion of absolute<00:41:10.160> truth<00:41:10.720> which<00:41:10.839> is<00:41:11.000> to<00:41:11.119> say<00:41:11.440> a<00:41:11.680> global 00:41:12.270 --> 00:41:12.280 align:start position:0% absolute truth which is to say a global 00:41:12.280 --> 00:41:15.670 align:start position:0% absolute truth which is to say a global lock<00:41:12.599> step<00:41:13.319> State<00:41:14.319> um<00:41:14.640> fully 00:41:15.670 --> 00:41:15.680 align:start position:0% lock step State um fully 00:41:15.680 --> 00:41:17.990 align:start position:0% lock step State um fully objective<00:41:16.680> um<00:41:16.839> going<00:41:17.119> into<00:41:17.319> the<00:41:17.440> future<00:41:17.839> and 00:41:17.990 --> 00:41:18.000 align:start position:0% objective um going into the future and 00:41:18.000 --> 00:41:19.630 align:start position:0% objective um going into the future and to<00:41:18.200> what<00:41:18.319> degree<00:41:18.640> do<00:41:18.760> you<00:41:18.920> think<00:41:19.160> we<00:41:19.280> may<00:41:19.520> have 00:41:19.630 --> 00:41:19.640 align:start position:0% to what degree do you think we may have 00:41:19.640 --> 00:41:22.990 align:start position:0% to what degree do you think we may have to<00:41:19.760> fall<00:41:20.079> back<00:41:20.520> on<00:41:21.440> uh<00:41:21.560> sort<00:41:21.760> of<00:41:22.040> this<00:41:22.359> notion 00:41:22.990 --> 00:41:23.000 align:start position:0% to fall back on uh sort of this notion 00:41:23.000 --> 00:41:26.270 align:start position:0% to fall back on uh sort of this notion of<00:41:23.920> uh<00:41:24.040> a<00:41:24.319> relative<00:41:24.960> Truth<00:41:25.800> uh<00:41:25.920> depending 00:41:26.270 --> 00:41:26.280 align:start position:0% of uh a relative Truth uh depending 00:41:26.280 --> 00:41:27.910 align:start position:0% of uh a relative Truth uh depending depending<00:41:26.560> on<00:41:26.800> where<00:41:27.160> precisely<00:41:27.599> in<00:41:27.760> the 00:41:27.910 --> 00:41:27.920 align:start position:0% depending on where precisely in the 00:41:27.920 --> 00:41:30.750 align:start position:0% depending on where precisely in the system<00:41:28.359> you<00:41:28.520> happen<00:41:28.760> to<00:41:28.920> be<00:41:29.280> by<00:41:29.760> asynchronous 00:41:30.750 --> 00:41:30.760 align:start position:0% system you happen to be by asynchronous 00:41:30.760 --> 00:41:34.030 align:start position:0% system you happen to be by asynchronous or<00:41:31.040> by<00:41:31.280> global<00:41:31.839> absolute<00:41:32.400> state<00:41:32.760> are<00:41:33.079> kind<00:41:33.240> of 00:41:34.030 --> 00:41:34.040 align:start position:0% or by global absolute state are kind of 00:41:34.040 --> 00:41:36.349 align:start position:0% or by global absolute state are kind of are<00:41:34.319> are<00:41:34.520> sort<00:41:34.720> of<00:41:34.839> morkal<00:41:35.319> receipts<00:41:36.040> of 00:41:36.349 --> 00:41:36.359 align:start position:0% are are sort of morkal receipts of 00:41:36.359 --> 00:41:38.270 align:start position:0% are are sort of morkal receipts of asynchronous<00:41:37.079> operations<00:41:37.640> in<00:41:37.880> progress 00:41:38.270 --> 00:41:38.280 align:start position:0% asynchronous operations in progress 00:41:38.280 --> 00:41:41.750 align:start position:0% asynchronous operations in progress allowed<00:41:38.520> to<00:41:38.640> be<00:41:38.760> part<00:41:38.880> of<00:41:39.000> the<00:41:39.480> state<00:41:40.480> um<00:41:40.680> in 00:41:41.750 --> 00:41:41.760 align:start position:0% allowed to be part of the state um in 00:41:41.760 --> 00:41:44.630 align:start position:0% allowed to be part of the state um in principle<00:41:42.760> yes<00:41:43.640> if<00:41:43.880> if<00:41:43.960> so<00:41:44.160> I<00:41:44.240> think<00:41:44.440> that's 00:41:44.630 --> 00:41:44.640 align:start position:0% principle yes if if so I think that's 00:41:44.640 --> 00:41:47.349 align:start position:0% principle yes if if so I think that's fine<00:41:44.880> we<00:41:45.000> can<00:41:45.160> we<00:41:45.240> can<00:41:45.400> still<00:41:45.599> have<00:41:45.800> Global 00:41:47.349 --> 00:41:47.359 align:start position:0% fine we can we can still have Global 00:41:47.359 --> 00:41:50.069 align:start position:0% fine we can we can still have Global truth<00:41:48.359> and<00:41:48.599> we<00:41:48.920> aren't<00:41:49.119> we<00:41:49.280> already<00:41:49.599> sort<00:41:49.800> of 00:41:50.069 --> 00:41:50.079 align:start position:0% truth and we aren't we already sort of 00:41:50.079 --> 00:41:53.430 align:start position:0% truth and we aren't we already sort of like<00:41:50.400> at<00:41:50.599> a<00:41:51.079> a<00:41:51.319> situation<00:41:52.079> where<00:41:52.280> we<00:41:52.440> don't 00:41:53.430 --> 00:41:53.440 align:start position:0% like at a a situation where we don't 00:41:53.440 --> 00:41:56.670 align:start position:0% like at a a situation where we don't have<00:41:53.720> immediate<00:41:54.280> Global<00:41:54.680> Truth<00:41:55.599> uh<00:41:56.560> the 00:41:56.670 --> 00:41:56.680 align:start position:0% have immediate Global Truth uh the 00:41:56.680 --> 00:42:00.630 align:start position:0% have immediate Global Truth uh the global<00:41:57.000> truth<00:41:57.680> becomes<00:41:58.680> uh<00:41:58.960> more<00:41:59.440> final<00:42:00.440> uh 00:42:00.630 --> 00:42:00.640 align:start position:0% global truth becomes uh more final uh 00:42:00.640 --> 00:42:03.870 align:start position:0% global truth becomes uh more final uh after<00:42:01.160> after<00:42:01.480> time<00:42:01.800> goes<00:42:02.119> by<00:42:02.680> so<00:42:03.079> it's<00:42:03.280> already 00:42:03.870 --> 00:42:03.880 align:start position:0% after after time goes by so it's already 00:42:03.880 --> 00:42:06.309 align:start position:0% after after time goes by so it's already we<00:42:04.040> start<00:42:04.359> off<00:42:04.520> with<00:42:04.880> like<00:42:05.560> possibly<00:42:06.000> vague 00:42:06.309 --> 00:42:06.319 align:start position:0% we start off with like possibly vague 00:42:06.319 --> 00:42:08.230 align:start position:0% we start off with like possibly vague Global<00:42:06.599> truth<00:42:07.040> and<00:42:07.319> we<00:42:07.440> get<00:42:07.560> some<00:42:07.720> more<00:42:07.920> blocks 00:42:08.230 --> 00:42:08.240 align:start position:0% Global truth and we get some more blocks 00:42:08.240 --> 00:42:09.990 align:start position:0% Global truth and we get some more blocks and<00:42:08.400> then<00:42:08.520> we<00:42:08.640> have<00:42:08.760> a<00:42:08.839> more<00:42:09.079> solid<00:42:09.440> version<00:42:09.839> of 00:42:09.990 --> 00:42:10.000 align:start position:0% and then we have a more solid version of 00:42:10.000 --> 00:42:13.309 align:start position:0% and then we have a more solid version of global<00:42:10.359> truth<00:42:11.359> so<00:42:11.960> um 00:42:13.309 --> 00:42:13.319 align:start position:0% global truth so um 00:42:13.319 --> 00:42:17.390 align:start position:0% global truth so um yeah<00:42:14.319> um<00:42:14.839> I<00:42:15.480> I<00:42:15.599> kind<00:42:15.720> of<00:42:16.280> I<00:42:16.400> kind<00:42:16.480> of<00:42:16.640> think<00:42:16.880> that 00:42:17.390 --> 00:42:17.400 align:start position:0% yeah um I I kind of I kind of think that 00:42:17.400 --> 00:42:19.349 align:start position:0% yeah um I I kind of I kind of think that um<00:42:17.599> we<00:42:17.720> should<00:42:17.880> definitely<00:42:18.240> explore<00:42:18.800> the 00:42:19.349 --> 00:42:19.359 align:start position:0% um we should definitely explore the 00:42:19.359 --> 00:42:21.470 align:start position:0% um we should definitely explore the possibility<00:42:19.960> that<00:42:20.359> using<00:42:20.920> stronger<00:42:21.240> type 00:42:21.470 --> 00:42:21.480 align:start position:0% possibility that using stronger type 00:42:21.480 --> 00:42:25.069 align:start position:0% possibility that using stronger type information<00:42:21.960> we<00:42:22.079> can<00:42:22.319> have<00:42:23.480> um<00:42:24.480> concurrent 00:42:25.069 --> 00:42:25.079 align:start position:0% information we can have um concurrent 00:42:25.079 --> 00:42:26.829 align:start position:0% information we can have um concurrent execution<00:42:25.480> of<00:42:25.599> transactions<00:42:26.319> where<00:42:26.440> we<00:42:26.559> don't 00:42:26.829 --> 00:42:26.839 align:start position:0% execution of transactions where we don't 00:42:26.839 --> 00:42:29.549 align:start position:0% execution of transactions where we don't actually<00:42:27.240> have<00:42:28.160> a<00:42:28.359> global<00:42:28.760> consensus<00:42:29.280> on<00:42:29.440> the 00:42:29.549 --> 00:42:29.559 align:start position:0% actually have a global consensus on the 00:42:29.559 --> 00:42:31.950 align:start position:0% actually have a global consensus on the order<00:42:29.839> of<00:42:30.000> transactions<00:42:30.920> because<00:42:31.200> we<00:42:31.400> see 00:42:31.950 --> 00:42:31.960 align:start position:0% order of transactions because we see 00:42:31.960 --> 00:42:33.870 align:start position:0% order of transactions because we see that<00:42:32.079> we<00:42:32.200> don't<00:42:32.359> need<00:42:32.559> it<00:42:32.839> because<00:42:33.079> of 00:42:33.870 --> 00:42:33.880 align:start position:0% that we don't need it because of 00:42:33.880 --> 00:42:35.710 align:start position:0% that we don't need it because of something<00:42:34.400> about<00:42:34.720> the<00:42:35.280> particular 00:42:35.710 --> 00:42:35.720 align:start position:0% something about the particular 00:42:35.720 --> 00:42:37.549 align:start position:0% something about the particular applications<00:42:36.359> that<00:42:36.480> were<00:42:37.000> that<00:42:37.160> were<00:42:37.440> that 00:42:37.549 --> 00:42:37.559 align:start position:0% applications that were that were that 00:42:37.559 --> 00:42:39.790 align:start position:0% applications that were that were that are<00:42:37.800> deployed<00:42:38.119> on<00:42:38.200> the<00:42:38.319> platform<00:42:39.319> okay<00:42:39.559> let's 00:42:39.790 --> 00:42:39.800 align:start position:0% are deployed on the platform okay let's 00:42:39.800 --> 00:42:43.390 align:start position:0% are deployed on the platform okay let's explore<00:42:40.119> that<00:42:40.319> so<00:42:40.920> um<00:42:41.920> would<00:42:42.200> you<00:42:42.359> see<00:42:42.800> the<00:42:43.280> uh 00:42:43.390 --> 00:42:43.400 align:start position:0% explore that so um would you see the uh 00:42:43.400 --> 00:42:45.829 align:start position:0% explore that so um would you see the uh inherent<00:42:43.920> linearity<00:42:44.599> of<00:42:44.760> the<00:42:44.920> blockchain<00:42:45.680> as 00:42:45.829 --> 00:42:45.839 align:start position:0% inherent linearity of the blockchain as 00:42:45.839 --> 00:42:48.190 align:start position:0% inherent linearity of the blockchain as it's<00:42:46.240> as<00:42:46.359> we<00:42:46.520> have<00:42:46.640> it<00:42:46.800> so<00:42:47.040> far<00:42:47.400> to<00:42:47.559> be<00:42:48.000> uh 00:42:48.190 --> 00:42:48.200 align:start position:0% it's as we have it so far to be uh 00:42:48.200 --> 00:42:50.950 align:start position:0% it's as we have it so far to be uh something<00:42:48.559> that<00:42:48.720> can<00:42:48.920> be<00:42:49.599> uh<00:42:49.720> discarded<00:42:50.480> going 00:42:50.950 --> 00:42:50.960 align:start position:0% something that can be uh discarded going 00:42:50.960 --> 00:42:54.790 align:start position:0% something that can be uh discarded going forward<00:42:51.960> um<00:42:52.280> I<00:42:52.400> think<00:42:52.680> that<00:42:53.280> uh<00:42:54.160> it<00:42:54.400> it<00:42:54.559> with 00:42:54.790 --> 00:42:54.800 align:start position:0% forward um I think that uh it it with 00:42:54.800 --> 00:42:56.910 align:start position:0% forward um I think that uh it it with like<00:42:54.960> if<00:42:55.200> if<00:42:55.280> you're<00:42:55.480> if<00:42:55.559> your<00:42:55.760> application<00:42:56.520> is 00:42:56.910 --> 00:42:56.920 align:start position:0% like if if you're if your application is 00:42:56.920 --> 00:42:58.549 align:start position:0% like if if you're if your application is like<00:42:57.280> so<00:42:57.520> general<00:42:57.839> purpose<00:42:58.160> that<00:42:58.240> it<00:42:58.359> can 00:42:58.549 --> 00:42:58.559 align:start position:0% like so general purpose that it can 00:42:58.559 --> 00:43:00.470 align:start position:0% like so general purpose that it can affect<00:42:58.880> any<00:42:59.040> part<00:42:59.200> of<00:42:59.359> itself<00:42:59.880> then<00:43:00.160> there's 00:43:00.470 --> 00:43:00.480 align:start position:0% affect any part of itself then there's 00:43:00.480 --> 00:43:03.150 align:start position:0% affect any part of itself then there's like<00:43:01.400> uh<00:43:01.839> you<00:43:02.040> can't<00:43:02.319> really<00:43:02.559> get<00:43:02.720> away<00:43:02.920> from<00:43:03.040> a 00:43:03.150 --> 00:43:03.160 align:start position:0% like uh you can't really get away from a 00:43:03.160 --> 00:43:05.030 align:start position:0% like uh you can't really get away from a linear<00:43:03.839> model<00:43:04.240> but<00:43:04.359> if<00:43:04.440> you<00:43:04.599> have<00:43:04.800> more 00:43:05.030 --> 00:43:05.040 align:start position:0% linear model but if you have more 00:43:05.040 --> 00:43:06.470 align:start position:0% linear model but if you have more information<00:43:05.440> about<00:43:05.640> what<00:43:05.760> the<00:43:05.880> application 00:43:06.470 --> 00:43:06.480 align:start position:0% information about what the application 00:43:06.480 --> 00:43:09.150 align:start position:0% information about what the application does<00:43:06.839> and<00:43:07.599> and<00:43:07.960> and<00:43:08.200> the 00:43:09.150 --> 00:43:09.160 align:start position:0% does and and and the 00:43:09.160 --> 00:43:11.430 align:start position:0% does and and and the application<00:43:10.160> so<00:43:10.400> for<00:43:10.599> some<00:43:10.839> applications<00:43:11.319> we 00:43:11.430 --> 00:43:11.440 align:start position:0% application so for some applications we 00:43:11.440 --> 00:43:12.670 align:start position:0% application so for some applications we can<00:43:11.599> definitely<00:43:11.880> get<00:43:12.000> away<00:43:12.240> from<00:43:12.319> the<00:43:12.400> linear 00:43:12.670 --> 00:43:12.680 align:start position:0% can definitely get away from the linear 00:43:12.680 --> 00:43:15.430 align:start position:0% can definitely get away from the linear model<00:43:13.000> from<00:43:13.160> some<00:43:13.480> applications<00:43:14.119> we<00:43:14.559> can't 00:43:15.430 --> 00:43:15.440 align:start position:0% model from some applications we can't 00:43:15.440 --> 00:43:18.790 align:start position:0% model from some applications we can't and<00:43:15.800> so<00:43:16.800> we<00:43:17.200> stand<00:43:17.520> to<00:43:17.680> benefit<00:43:18.000> on<00:43:18.079> a<00:43:18.200> scaling 00:43:18.790 --> 00:43:18.800 align:start position:0% and so we stand to benefit on a scaling 00:43:18.800 --> 00:43:21.829 align:start position:0% and so we stand to benefit on a scaling side<00:43:19.040> if<00:43:19.319> we<00:43:19.800> can 00:43:21.829 --> 00:43:21.839 align:start position:0% side if we can 00:43:21.839 --> 00:43:24.069 align:start position:0% side if we can identify<00:43:22.839> how<00:43:23.079> strictly<00:43:23.480> transactions<00:43:23.960> need 00:43:24.069 --> 00:43:24.079 align:start position:0% identify how strictly transactions need 00:43:24.079 --> 00:43:26.150 align:start position:0% identify how strictly transactions need to<00:43:24.200> be<00:43:24.280> ordered<00:43:24.599> from<00:43:24.760> a<00:43:25.559> about<00:43:25.720> two 00:43:26.150 --> 00:43:26.160 align:start position:0% to be ordered from a about two 00:43:26.160 --> 00:43:28.390 align:start position:0% to be ordered from a about two application<00:43:27.040> but<00:43:27.640> by<00:43:27.880> you<00:43:27.960> know<00:43:28.079> from 00:43:28.390 --> 00:43:28.400 align:start position:0% application but by you know from 00:43:28.400 --> 00:43:30.349 align:start position:0% application but by you know from information<00:43:28.839> given<00:43:29.079> by<00:43:29.200> that 00:43:30.349 --> 00:43:30.359 align:start position:0% information given by that 00:43:30.359 --> 00:43:34.230 align:start position:0% information given by that application<00:43:31.359> so<00:43:31.640> in<00:43:31.960> principle<00:43:32.960> um<00:43:33.319> sharding 00:43:34.230 --> 00:43:34.240 align:start position:0% application so in principle um sharding 00:43:34.240 --> 00:43:37.870 align:start position:0% application so in principle um sharding the<00:43:34.720> uh<00:43:35.079> Shing<00:43:35.640> the<00:43:35.920> the<00:43:36.079> state<00:43:36.880> and<00:43:37.040> allowing 00:43:37.870 --> 00:43:37.880 align:start position:0% the uh Shing the the state and allowing 00:43:37.880 --> 00:43:41.109 align:start position:0% the uh Shing the the state and allowing different<00:43:38.160> sets<00:43:38.400> of<00:43:38.559> nodes<00:43:39.040> to<00:43:39.599> process<00:43:40.559> each 00:43:41.109 --> 00:43:41.119 align:start position:0% different sets of nodes to process each 00:43:41.119 --> 00:43:43.510 align:start position:0% different sets of nodes to process each different<00:43:41.520> part<00:43:41.680> of<00:43:41.839> the<00:43:41.960> state<00:43:42.640> in 00:43:43.510 --> 00:43:43.520 align:start position:0% different part of the state in 00:43:43.520 --> 00:43:47.790 align:start position:0% different part of the state in parallel<00:43:44.520> um<00:43:44.839> would<00:43:45.480> relax<00:43:46.040> the<00:43:46.200> notion<00:43:46.800> of<00:43:47.200> a 00:43:47.790 --> 00:43:47.800 align:start position:0% parallel um would relax the notion of a 00:43:47.800 --> 00:43:50.589 align:start position:0% parallel um would relax the notion of a this<00:43:47.960> inherent<00:43:48.920> sequential 00:43:50.589 --> 00:43:50.599 align:start position:0% this inherent sequential 00:43:50.599 --> 00:43:53.309 align:start position:0% this inherent sequential larity<00:43:51.599> um<00:43:52.000> to<00:43:52.280> what<00:43:52.559> extent<00:43:52.920> do<00:43:53.000> you<00:43:53.160> think 00:43:53.309 --> 00:43:53.319 align:start position:0% larity um to what extent do you think 00:43:53.319 --> 00:43:56.589 align:start position:0% larity um to what extent do you think that<00:43:53.440> can<00:43:53.599> be<00:43:54.200> taken<00:43:55.200> um<00:43:55.680> in<00:43:55.880> this<00:43:56.119> this<00:43:56.440> sort 00:43:56.589 --> 00:43:56.599 align:start position:0% that can be taken um in this this sort 00:43:56.599 --> 00:44:00.349 align:start position:0% that can be taken um in this this sort of<00:43:57.359> fractaline<00:43:58.079> notion<00:43:58.760> that<00:43:59.599> uh<00:43:59.720> that<00:43:59.839> lucus 00:44:00.349 --> 00:44:00.359 align:start position:0% of fractaline notion that uh that lucus 00:44:00.359 --> 00:44:03.750 align:start position:0% of fractaline notion that uh that lucus presented<00:44:01.160> earlier<00:44:02.160> well<00:44:02.440> I<00:44:02.520> mean<00:44:02.760> so<00:44:03.440> um<00:44:03.680> if 00:44:03.750 --> 00:44:03.760 align:start position:0% presented earlier well I mean so um if 00:44:03.760 --> 00:44:06.309 align:start position:0% presented earlier well I mean so um if you<00:44:03.920> have<00:44:04.200> one<00:44:04.760> application<00:44:05.440> across<00:44:05.800> many 00:44:06.309 --> 00:44:06.319 align:start position:0% you have one application across many 00:44:06.319 --> 00:44:08.950 align:start position:0% you have one application across many shards<00:44:07.319> and<00:44:07.559> that<00:44:07.800> application<00:44:08.359> requires<00:44:08.800> a 00:44:08.950 --> 00:44:08.960 align:start position:0% shards and that application requires a 00:44:08.960 --> 00:44:11.150 align:start position:0% shards and that application requires a strict<00:44:09.240> ordering<00:44:10.160> then<00:44:10.400> it<00:44:10.520> will<00:44:10.720> need<00:44:10.920> to 00:44:11.150 --> 00:44:11.160 align:start position:0% strict ordering then it will need to 00:44:11.160 --> 00:44:13.510 align:start position:0% strict ordering then it will need to kind<00:44:11.319> of<00:44:11.559> Lock<00:44:12.200> and<00:44:12.400> wait<00:44:12.720> for<00:44:13.079> messages 00:44:13.510 --> 00:44:13.520 align:start position:0% kind of Lock and wait for messages 00:44:13.520 --> 00:44:15.910 align:start position:0% kind of Lock and wait for messages across<00:44:13.839> different<00:44:14.079> shards<00:44:14.559> anyways<00:44:15.520> so<00:44:15.800> just 00:44:15.910 --> 00:44:15.920 align:start position:0% across different shards anyways so just 00:44:15.920 --> 00:44:17.109 align:start position:0% across different shards anyways so just the<00:44:16.079> fact<00:44:16.200> that<00:44:16.319> we<00:44:16.440> have 00:44:17.109 --> 00:44:17.119 align:start position:0% the fact that we have 00:44:17.119 --> 00:44:19.510 align:start position:0% the fact that we have shards<00:44:18.119> uh<00:44:18.280> doesn't<00:44:18.680> mean<00:44:18.920> that<00:44:19.119> for<00:44:19.319> a 00:44:19.510 --> 00:44:19.520 align:start position:0% shards uh doesn't mean that for a 00:44:19.520 --> 00:44:20.990 align:start position:0% shards uh doesn't mean that for a particular<00:44:19.920> application<00:44:20.480> we<00:44:20.559> can<00:44:20.680> deal<00:44:20.880> with 00:44:20.990 --> 00:44:21.000 align:start position:0% particular application we can deal with 00:44:21.000 --> 00:44:24.829 align:start position:0% particular application we can deal with concurrency<00:44:21.880> it<00:44:22.000> has<00:44:22.480> CU<00:44:22.720> like<00:44:23.839> certain 00:44:24.829 --> 00:44:24.839 align:start position:0% concurrency it has CU like certain 00:44:24.839 --> 00:44:26.670 align:start position:0% concurrency it has CU like certain different<00:44:25.160> applications<00:44:25.680> will 00:44:26.670 --> 00:44:26.680 align:start position:0% different applications will 00:44:26.680 --> 00:44:29.750 align:start position:0% different applications will like<00:44:26.800> can<00:44:27.480> inherently<00:44:28.480> uh<00:44:28.760> allow<00:44:29.119> for<00:44:29.400> more<00:44:29.599> or 00:44:29.750 --> 00:44:29.760 align:start position:0% like can inherently uh allow for more or 00:44:29.760 --> 00:44:31.069 align:start position:0% like can inherently uh allow for more or less<00:44:29.920> ordering<00:44:30.319> of<00:44:30.440> transactions<00:44:30.920> that 00:44:31.069 --> 00:44:31.079 align:start position:0% less ordering of transactions that 00:44:31.079 --> 00:44:33.349 align:start position:0% less ordering of transactions that affect<00:44:31.280> their<00:44:31.440> state<00:44:32.359> um<00:44:32.680> and<00:44:32.839> yeah<00:44:33.040> I<00:44:33.119> think 00:44:33.349 --> 00:44:33.359 align:start position:0% affect their state um and yeah I think 00:44:33.359 --> 00:44:35.069 align:start position:0% affect their state um and yeah I think multi-<00:44:33.800> Shard<00:44:34.200> applications<00:44:34.680> are<00:44:34.839> something 00:44:35.069 --> 00:44:35.079 align:start position:0% multi- Shard applications are something 00:44:35.079 --> 00:44:36.190 align:start position:0% multi- Shard applications are something that<00:44:35.160> we're<00:44:35.280> going<00:44:35.359> to<00:44:35.480> need<00:44:35.599> to<00:44:35.839> to<00:44:36.000> think 00:44:36.190 --> 00:44:36.200 align:start position:0% that we're going to need to to think 00:44:36.200 --> 00:44:38.950 align:start position:0% that we're going to need to to think kind<00:44:36.319> of<00:44:36.440> long<00:44:36.559> and<00:44:36.720> hard<00:44:36.960> about<00:44:37.960> um<00:44:38.359> because 00:44:38.950 --> 00:44:38.960 align:start position:0% kind of long and hard about um because 00:44:38.960 --> 00:44:40.270 align:start position:0% kind of long and hard about um because you<00:44:39.079> know<00:44:39.240> in<00:44:39.359> as<00:44:39.520> far<00:44:39.640> as<00:44:39.720> an<00:44:39.839> application<00:44:40.160> is 00:44:40.270 --> 00:44:40.280 align:start position:0% you know in as far as an application is 00:44:40.280 --> 00:44:42.390 align:start position:0% you know in as far as an application is all<00:44:40.440> within<00:44:40.640> one<00:44:40.800> Shard<00:44:41.440> it's<00:44:42.000> the<00:44:42.079> story<00:44:42.280> is 00:44:42.390 --> 00:44:42.400 align:start position:0% all within one Shard it's the story is 00:44:42.400 --> 00:44:44.549 align:start position:0% all within one Shard it's the story is pretty<00:44:42.640> clear<00:44:43.119> between 00:44:44.549 --> 00:44:44.559 align:start position:0% pretty clear between 00:44:44.559 --> 00:44:46.829 align:start position:0% pretty clear between shards<00:44:45.559> the<00:44:45.720> application<00:44:46.240> developer<00:44:46.680> might 00:44:46.829 --> 00:44:46.839 align:start position:0% shards the application developer might 00:44:46.839 --> 00:44:48.069 align:start position:0% shards the application developer might have<00:44:46.960> to<00:44:47.079> do<00:44:47.240> more 00:44:48.069 --> 00:44:48.079 align:start position:0% have to do more 00:44:48.079 --> 00:44:50.630 align:start position:0% have to do more work<00:44:49.079> to<00:44:49.280> deal<00:44:49.480> with<00:44:49.559> the<00:44:49.760> logic<00:44:50.119> there<00:44:50.359> if<00:44:50.480> the 00:44:50.630 --> 00:44:50.640 align:start position:0% work to deal with the logic there if the 00:44:50.640 --> 00:44:52.790 align:start position:0% work to deal with the logic there if the transactions<00:44:51.160> really<00:44:51.319> aren't<00:44:52.119> uh<00:44:52.440> globally 00:44:52.790 --> 00:44:52.800 align:start position:0% transactions really aren't uh globally 00:44:52.800 --> 00:44:56.710 align:start position:0% transactions really aren't uh globally ordered<00:44:53.640> and<00:44:53.880> affect<00:44:54.160> the<00:44:54.640> state<00:44:55.640> uh 00:44:56.710 --> 00:44:56.720 align:start position:0% ordered and affect the state uh 00:44:56.720 --> 00:44:58.750 align:start position:0% ordered and affect the state uh I<00:44:56.760> mean<00:44:57.000> if<00:44:57.160> if<00:44:57.240> the<00:44:57.359> sh<00:44:57.720> so<00:44:57.920> basically<00:44:58.680> The 00:44:58.750 --> 00:44:58.760 align:start position:0% I mean if if the sh so basically The 00:44:58.760 --> 00:45:00.030 align:start position:0% I mean if if the sh so basically The Shard<00:44:59.040> will<00:44:59.160> have<00:44:59.240> to<00:44:59.319> be<00:44:59.440> big<00:44:59.599> enough<00:44:59.839> to 00:45:00.030 --> 00:45:00.040 align:start position:0% Shard will have to be big enough to 00:45:00.040 --> 00:45:02.829 align:start position:0% Shard will have to be big enough to include<00:45:00.400> all<00:45:00.520> of<00:45:00.640> that<00:45:00.800> application<00:45:01.240> state<00:45:01.880> if 00:45:02.829 --> 00:45:02.839 align:start position:0% include all of that application state if 00:45:02.839 --> 00:45:06.150 align:start position:0% include all of that application state if that<00:45:03.040> application<00:45:03.480> needs<00:45:04.400> a<00:45:04.559> global<00:45:05.160> order 00:45:06.150 --> 00:45:06.160 align:start position:0% that application needs a global order 00:45:06.160 --> 00:45:07.589 align:start position:0% that application needs a global order and<00:45:06.359> if<00:45:06.480> we<00:45:06.760> process<00:45:07.119> transactions 00:45:07.589 --> 00:45:07.599 align:start position:0% and if we process transactions 00:45:07.599 --> 00:45:09.670 align:start position:0% and if we process transactions concurrently<00:45:08.359> between 00:45:09.670 --> 00:45:09.680 align:start position:0% concurrently between 00:45:09.680 --> 00:45:13.549 align:start position:0% concurrently between inss<00:45:10.680> hope<00:45:10.920> that<00:45:11.040> makes<00:45:11.240> sense<00:45:11.599> Dominic<00:45:12.119> any 00:45:13.549 --> 00:45:13.559 align:start position:0% inss hope that makes sense Dominic any 00:45:13.559 --> 00:45:16.870 align:start position:0% inss hope that makes sense Dominic any comments<00:45:14.559> yes<00:45:14.760> so<00:45:14.920> I<00:45:15.480> I<00:45:15.559> think<00:45:15.800> even<00:45:16.119> with<00:45:16.680> uh 00:45:16.870 --> 00:45:16.880 align:start position:0% comments yes so I I think even with uh 00:45:16.880 --> 00:45:20.309 align:start position:0% comments yes so I I think even with uh is<00:45:17.000> that<00:45:17.200> working<00:45:17.640> yeah<00:45:18.160> even<00:45:18.440> even<00:45:18.720> with<00:45:19.319> um 00:45:20.309 --> 00:45:20.319 align:start position:0% is that working yeah even even with um 00:45:20.319 --> 00:45:21.670 align:start position:0% is that working yeah even even with um uh<00:45:20.520> you<00:45:20.599> know<00:45:20.680> sharded<00:45:21.079> architecture<00:45:21.559> there 00:45:21.670 --> 00:45:21.680 align:start position:0% uh you know sharded architecture there 00:45:21.680 --> 00:45:23.950 align:start position:0% uh you know sharded architecture there still<00:45:21.839> has<00:45:21.960> to<00:45:22.079> be<00:45:22.160> a<00:45:22.280> single<00:45:23.000> linear<00:45:23.599> record 00:45:23.950 --> 00:45:23.960 align:start position:0% still has to be a single linear record 00:45:23.960 --> 00:45:27.030 align:start position:0% still has to be a single linear record of<00:45:24.280> you<00:45:24.359> know<00:45:24.920> overall<00:45:25.280> State<00:45:25.480> transition 00:45:27.030 --> 00:45:27.040 align:start position:0% of you know overall State transition 00:45:27.040 --> 00:45:30.109 align:start position:0% of you know overall State transition um<00:45:27.559> so<00:45:28.160> you<00:45:28.240> know<00:45:28.440> the<00:45:28.960> network<00:45:29.440> scalable 00:45:30.109 --> 00:45:30.119 align:start position:0% um so you know the network scalable 00:45:30.119 --> 00:45:31.670 align:start position:0% um so you know the network scalable network<00:45:30.440> is<00:45:30.559> probably<00:45:30.800> best<00:45:30.960> thought<00:45:31.160> of<00:45:31.520> some 00:45:31.670 --> 00:45:31.680 align:start position:0% network is probably best thought of some 00:45:31.680 --> 00:45:33.270 align:start position:0% network is probably best thought of some some<00:45:31.839> kind<00:45:31.960> of<00:45:32.079> pyramid<00:45:32.520> you<00:45:32.599> know<00:45:32.880> and<00:45:33.160> the 00:45:33.270 --> 00:45:33.280 align:start position:0% some kind of pyramid you know and the 00:45:33.280 --> 00:45:35.710 align:start position:0% some kind of pyramid you know and the top<00:45:33.440> of<00:45:33.520> the<00:45:33.599> pyramid<00:45:34.000> is<00:45:34.200> the<00:45:34.400> global<00:45:34.760> chain 00:45:35.710 --> 00:45:35.720 align:start position:0% top of the pyramid is the global chain 00:45:35.720 --> 00:45:38.190 align:start position:0% top of the pyramid is the global chain and<00:45:36.160> the<00:45:36.720> uh<00:45:36.920> at<00:45:37.000> the<00:45:37.079> bottom<00:45:37.319> of<00:45:37.400> the<00:45:37.480> pyramid 00:45:38.190 --> 00:45:38.200 align:start position:0% and the uh at the bottom of the pyramid 00:45:38.200 --> 00:45:40.710 align:start position:0% and the uh at the bottom of the pyramid the<00:45:38.359> the<00:45:38.480> storage<00:45:39.000> shards<00:45:40.000> um<00:45:40.480> the 00:45:40.710 --> 00:45:40.720 align:start position:0% the the storage shards um the 00:45:40.720 --> 00:45:43.670 align:start position:0% the the storage shards um the transactions<00:45:41.559> themselves<00:45:42.559> will<00:45:42.839> have<00:45:42.960> to<00:45:43.119> be 00:45:43.670 --> 00:45:43.680 align:start position:0% transactions themselves will have to be 00:45:43.680 --> 00:45:46.630 align:start position:0% transactions themselves will have to be asynchronous<00:45:44.359> which<00:45:44.520> means<00:45:44.880> that<00:45:45.200> you<00:45:45.319> know 00:45:46.630 --> 00:45:46.640 align:start position:0% asynchronous which means that you know 00:45:46.640 --> 00:45:49.510 align:start position:0% asynchronous which means that you know effectively<00:45:47.640> some<00:45:47.800> kind<00:45:47.920> of<00:45:48.079> event<00:45:48.440> passing 00:45:49.510 --> 00:45:49.520 align:start position:0% effectively some kind of event passing 00:45:49.520 --> 00:45:51.069 align:start position:0% effectively some kind of event passing Paradigm 00:45:51.069 --> 00:45:51.079 align:start position:0% Paradigm 00:45:51.079 --> 00:45:53.589 align:start position:0% Paradigm um<00:45:52.079> very<00:45:52.319> simple<00:45:52.680> example<00:45:53.079> might<00:45:53.280> be<00:45:53.480> with 00:45:53.589 --> 00:45:53.599 align:start position:0% um very simple example might be with 00:45:53.599 --> 00:45:55.349 align:start position:0% um very simple example might be with just<00:45:53.720> a<00:45:53.839> simple<00:45:54.119> cryptocurrency<00:45:55.040> that<00:45:55.200> you 00:45:55.349 --> 00:45:55.359 align:start position:0% just a simple cryptocurrency that you 00:45:55.359 --> 00:45:59.270 align:start position:0% just a simple cryptocurrency that you know<00:45:56.000> if<00:45:56.119> you've<00:45:56.359> got<00:45:57.160> two<00:45:57.640> wallets<00:45:58.640> um<00:45:58.960> one<00:45:59.119> is 00:45:59.270 --> 00:45:59.280 align:start position:0% know if you've got two wallets um one is 00:45:59.280 --> 00:46:02.630 align:start position:0% know if you've got two wallets um one is on<00:45:59.920> Shard<00:46:00.400> a<00:46:00.680> one<00:46:00.839> is<00:46:00.960> on<00:46:01.079> Shard<00:46:01.520> B<00:46:02.200> the<00:46:02.319> wallet 00:46:02.630 --> 00:46:02.640 align:start position:0% on Shard a one is on Shard B the wallet 00:46:02.640 --> 00:46:05.750 align:start position:0% on Shard a one is on Shard B the wallet on<00:46:02.960> Shard<00:46:03.359> a<00:46:03.520> wants<00:46:03.839> to<00:46:04.040> send<00:46:05.040> uh<00:46:05.200> some<00:46:05.400> money 00:46:05.750 --> 00:46:05.760 align:start position:0% on Shard a wants to send uh some money 00:46:05.760 --> 00:46:08.549 align:start position:0% on Shard a wants to send uh some money to<00:46:06.119> the<00:46:06.240> wallet<00:46:06.559> on<00:46:06.720> Shard<00:46:07.160> B<00:46:08.119> um<00:46:08.400> a 00:46:08.549 --> 00:46:08.559 align:start position:0% to the wallet on Shard B um a 00:46:08.559 --> 00:46:11.309 align:start position:0% to the wallet on Shard B um a transaction<00:46:09.079> is<00:46:09.280> created<00:46:10.160> um<00:46:10.920> that<00:46:11.119> that 00:46:11.309 --> 00:46:11.319 align:start position:0% transaction is created um that that 00:46:11.319 --> 00:46:14.390 align:start position:0% transaction is created um that that really<00:46:11.880> um<00:46:12.480> consists<00:46:12.880> of<00:46:13.040> two<00:46:13.319> parts<00:46:14.160> two 00:46:14.390 --> 00:46:14.400 align:start position:0% really um consists of two parts two 00:46:14.400 --> 00:46:17.030 align:start position:0% really um consists of two parts two parts<00:46:14.680> you<00:46:14.800> know<00:46:14.960> a<00:46:15.079> debit<00:46:15.359> and<00:46:15.480> a<00:46:15.640> credit<00:46:16.640> and 00:46:17.030 --> 00:46:17.040 align:start position:0% parts you know a debit and a credit and 00:46:17.040 --> 00:46:19.030 align:start position:0% parts you know a debit and a credit and first<00:46:17.240> of<00:46:17.400> all<00:46:17.720> the<00:46:18.240> debit<00:46:18.599> part<00:46:18.800> of<00:46:18.880> the 00:46:19.030 --> 00:46:19.040 align:start position:0% first of all the debit part of the 00:46:19.040 --> 00:46:22.790 align:start position:0% first of all the debit part of the transaction<00:46:19.520> is<00:46:19.680> submitted<00:46:20.319> on<00:46:21.000> Shard<00:46:21.800> a 00:46:22.790 --> 00:46:22.800 align:start position:0% transaction is submitted on Shard a 00:46:22.800 --> 00:46:24.589 align:start position:0% transaction is submitted on Shard a that's<00:46:23.200> validated<00:46:23.800> and<00:46:24.000> only<00:46:24.160> one<00:46:24.359> it's 00:46:24.589 --> 00:46:24.599 align:start position:0% that's validated and only one it's 00:46:24.599 --> 00:46:26.510 align:start position:0% that's validated and only one it's validated<00:46:25.119> is<00:46:25.280> the<00:46:25.440> credit 00:46:26.510 --> 00:46:26.520 align:start position:0% validated is the credit 00:46:26.520 --> 00:46:27.790 align:start position:0% validated is the credit uh<00:46:26.680> part<00:46:26.800> of<00:46:26.920> the<00:46:27.040> transaction<00:46:27.599> actually 00:46:27.790 --> 00:46:27.800 align:start position:0% uh part of the transaction actually 00:46:27.800 --> 00:46:30.829 align:start position:0% uh part of the transaction actually submitted<00:46:28.200> on<00:46:28.319> Shard<00:46:29.119> b 00:46:30.829 --> 00:46:30.839 align:start position:0% submitted on Shard b 00:46:30.839 --> 00:46:32.829 align:start position:0% submitted on Shard b um 00:46:32.829 --> 00:46:32.839 align:start position:0% um 00:46:32.839 --> 00:46:35.910 align:start position:0% um but<00:46:33.839> you<00:46:34.000> know<00:46:34.559> even<00:46:34.920> though<00:46:35.520> there's<00:46:35.680> a 00:46:35.910 --> 00:46:35.920 align:start position:0% but you know even though there's a 00:46:35.920 --> 00:46:38.750 align:start position:0% but you know even though there's a there's<00:46:36.040> a<00:46:36.720> there's<00:46:36.880> a<00:46:37.160> process<00:46:37.960> by<00:46:38.200> which<00:46:38.680> uh 00:46:38.750 --> 00:46:38.760 align:start position:0% there's a there's a process by which uh 00:46:38.760 --> 00:46:40.870 align:start position:0% there's a there's a process by which uh you<00:46:38.839> know<00:46:38.960> a<00:46:39.079> smart<00:46:39.359> contract<00:46:39.720> might<00:46:39.920> send 00:46:40.870 --> 00:46:40.880 align:start position:0% you know a smart contract might send 00:46:40.880 --> 00:46:42.710 align:start position:0% you know a smart contract might send some<00:46:41.160> message<00:46:41.440> to<00:46:41.599> another<00:46:41.920> smart<00:46:42.240> contract 00:46:42.710 --> 00:46:42.720 align:start position:0% some message to another smart contract 00:46:42.720 --> 00:46:44.670 align:start position:0% some message to another smart contract well<00:46:43.000> that<00:46:43.599> the<00:46:43.720> creation<00:46:44.079> of<00:46:44.200> that<00:46:44.359> message 00:46:44.670 --> 00:46:44.680 align:start position:0% well that the creation of that message 00:46:44.680 --> 00:46:45.910 align:start position:0% well that the creation of that message has<00:46:44.800> to<00:46:44.920> be 00:46:45.910 --> 00:46:45.920 align:start position:0% has to be 00:46:45.920 --> 00:46:48.190 align:start position:0% has to be validated<00:46:46.920> while<00:46:47.119> it's<00:46:47.280> being<00:46:47.559> validated 00:46:48.190 --> 00:46:48.200 align:start position:0% validated while it's being validated 00:46:48.200 --> 00:46:50.950 align:start position:0% validated while it's being validated that<00:46:48.359> message<00:46:48.640> is<00:46:48.760> in<00:46:48.960> some<00:46:49.200> kind<00:46:49.359> of<00:46:49.720> QE<00:46:50.720> um 00:46:50.950 --> 00:46:50.960 align:start position:0% that message is in some kind of QE um 00:46:50.960 --> 00:46:53.109 align:start position:0% that message is in some kind of QE um the<00:46:51.079> Q<00:46:51.359> itself<00:46:51.720> is<00:46:51.920> part<00:46:52.079> of<00:46:52.200> the<00:46:52.319> state<00:46:52.800> right 00:46:53.109 --> 00:46:53.119 align:start position:0% the Q itself is part of the state right 00:46:53.119 --> 00:46:56.549 align:start position:0% the Q itself is part of the state right so<00:46:53.680> that<00:46:53.839> can<00:46:53.960> be<00:46:54.119> validated<00:46:54.640> too<00:46:55.359> so 00:46:56.549 --> 00:46:56.559 align:start position:0% so that can be validated too so 00:46:56.559 --> 00:46:59.870 align:start position:0% so that can be validated too so um<00:46:57.559> you<00:46:57.680> know<00:46:57.880> there<00:46:58.000> is<00:46:58.240> some<00:46:59.200> ordering<00:46:59.720> not 00:46:59.870 --> 00:46:59.880 align:start position:0% um you know there is some ordering not 00:46:59.880 --> 00:47:02.710 align:start position:0% um you know there is some ordering not only<00:47:00.119> of<00:47:00.280> the<00:47:00.440> state<00:47:00.760> transitions<00:47:01.520> but<00:47:02.160> also 00:47:02.710 --> 00:47:02.720 align:start position:0% only of the state transitions but also 00:47:02.720 --> 00:47:04.549 align:start position:0% only of the state transitions but also the<00:47:03.119> the<00:47:03.240> message<00:47:03.559> pass<00:47:04.000> which<00:47:04.079> is<00:47:04.160> a<00:47:04.240> formal 00:47:04.549 --> 00:47:04.559 align:start position:0% the the message pass which is a formal 00:47:04.559 --> 00:47:07.870 align:start position:0% the the message pass which is a formal State<00:47:04.839> transition 00:47:07.870 --> 00:47:07.880 align:start position:0% 00:47:07.880 --> 00:47:12.270 align:start position:0% anyway<00:47:08.880> so<00:47:09.160> I'd<00:47:09.319> like<00:47:09.440> a<00:47:09.640> quick<00:47:09.880> poll<00:47:10.599> um<00:47:10.960> to<00:47:11.960> do 00:47:12.270 --> 00:47:12.280 align:start position:0% anyway so I'd like a quick poll um to do 00:47:12.280 --> 00:47:15.790 align:start position:0% anyway so I'd like a quick poll um to do we<00:47:12.559> think<00:47:12.920> that<00:47:13.079> for<00:47:13.440> ethereum 00:47:15.790 --> 00:47:15.800 align:start position:0% we think that for ethereum 00:47:15.800 --> 00:47:20.030 align:start position:0% we think that for ethereum 2.0<00:47:16.800> scalable<00:47:17.680> ethereum<00:47:18.680> we<00:47:18.839> will<00:47:19.040> be<00:47:19.200> able<00:47:19.400> to 00:47:20.030 --> 00:47:20.040 align:start position:0% 2.0 scalable ethereum we will be able to 00:47:20.040 --> 00:47:23.950 align:start position:0% 2.0 scalable ethereum we will be able to retain<00:47:21.040> um<00:47:21.240> our<00:47:21.559> exact<00:47:22.000> same<00:47:22.319> execution 00:47:23.950 --> 00:47:23.960 align:start position:0% retain um our exact same execution 00:47:23.960 --> 00:47:27.349 align:start position:0% retain um our exact same execution environment<00:47:24.960> um<00:47:25.880> I<00:47:26.200> the<00:47:26.440> property<00:47:26.960> that<00:47:27.160> I'd 00:47:27.349 --> 00:47:27.359 align:start position:0% environment um I the property that I'd 00:47:27.359 --> 00:47:29.750 align:start position:0% environment um I the property that I'd like<00:47:27.559> to<00:47:27.839> achieve<00:47:28.400> is<00:47:28.599> that<00:47:28.800> first<00:47:29.040> of<00:47:29.200> all<00:47:29.599> I 00:47:29.750 --> 00:47:29.760 align:start position:0% like to achieve is that first of all I 00:47:29.760 --> 00:47:33.430 align:start position:0% like to achieve is that first of all I do<00:47:30.079> think<00:47:30.480> that<00:47:31.240> ABS<00:47:31.520> you<00:47:31.599> know<00:47:32.440> simultaneous 00:47:33.430 --> 00:47:33.440 align:start position:0% do think that ABS you know simultaneous 00:47:33.440 --> 00:47:36.430 align:start position:0% do think that ABS you know simultaneous synchrony<00:47:34.240> and<00:47:34.559> very<00:47:34.839> very<00:47:35.119> high<00:47:35.440> scalability 00:47:36.430 --> 00:47:36.440 align:start position:0% synchrony and very very high scalability 00:47:36.440 --> 00:47:37.710 align:start position:0% synchrony and very very high scalability is 00:47:37.710 --> 00:47:37.720 align:start position:0% is 00:47:37.720 --> 00:47:40.069 align:start position:0% is not<00:47:38.720> is<00:47:38.920> not<00:47:39.119> achievable<00:47:39.599> for<00:47:39.839> you<00:47:39.920> know 00:47:40.069 --> 00:47:40.079 align:start position:0% not is not achievable for you know 00:47:40.079 --> 00:47:42.030 align:start position:0% not is not achievable for you know fairly<00:47:40.359> simple<00:47:40.680> computer<00:47:41.000> science<00:47:41.280> theoretic 00:47:42.030 --> 00:47:42.040 align:start position:0% fairly simple computer science theoretic 00:47:42.040 --> 00:47:44.670 align:start position:0% fairly simple computer science theoretic theoretic<00:47:42.559> reasons<00:47:43.240> but<00:47:43.920> the<00:47:44.119> the<00:47:44.280> properties 00:47:44.670 --> 00:47:44.680 align:start position:0% theoretic reasons but the the properties 00:47:44.680 --> 00:47:48.069 align:start position:0% theoretic reasons but the the properties that<00:47:44.800> I<00:47:44.920> do<00:47:45.079> want<00:47:45.319> to<00:47:45.559> keep<00:47:45.920> are<00:47:46.800> number<00:47:47.119> one<00:47:47.920> if 00:47:48.069 --> 00:47:48.079 align:start position:0% that I do want to keep are number one if 00:47:48.079 --> 00:47:50.109 align:start position:0% that I do want to keep are number one if you<00:47:48.280> do<00:47:48.480> not<00:47:48.720> want<00:47:49.160> properties<00:47:49.520> that<00:47:49.760> do<00:47:49.880> not 00:47:50.109 --> 00:47:50.119 align:start position:0% you do not want properties that do not 00:47:50.119 --> 00:47:51.870 align:start position:0% you do not want properties that do not exist<00:47:50.520> right<00:47:50.640> now<00:47:50.920> then<00:47:51.079> you<00:47:51.160> should<00:47:51.359> not<00:47:51.520> lose 00:47:51.870 --> 00:47:51.880 align:start position:0% exist right now then you should not lose 00:47:51.880 --> 00:47:54.270 align:start position:0% exist right now then you should not lose anything<00:47:52.200> that<00:47:52.359> exists<00:47:52.800> right<00:47:52.960> now<00:47:53.680> so<00:47:53.920> that<00:47:54.119> b 00:47:54.270 --> 00:47:54.280 align:start position:0% anything that exists right now so that b 00:47:54.280 --> 00:47:56.150 align:start position:0% anything that exists right now so that b so<00:47:54.440> one<00:47:54.640> example<00:47:55.000> of<00:47:55.200> that<00:47:55.359> is<00:47:55.520> that 00:47:56.150 --> 00:47:56.160 align:start position:0% so one example of that is that 00:47:56.160 --> 00:47:57.510 align:start position:0% so one example of that is that applications<00:47:56.760> that<00:47:56.880> are<00:47:57.040> within<00:47:57.280> the<00:47:57.359> same 00:47:57.510 --> 00:47:57.520 align:start position:0% applications that are within the same 00:47:57.520 --> 00:47:59.430 align:start position:0% applications that are within the same Shard<00:47:58.079> should<00:47:58.319> maintain<00:47:58.760> the<00:47:58.920> exact<00:47:59.200> same 00:47:59.430 --> 00:47:59.440 align:start position:0% Shard should maintain the exact same 00:47:59.440 --> 00:48:02.829 align:start position:0% Shard should maintain the exact same development<00:47:59.880> model<00:48:00.240> as<00:48:00.400> much<00:48:00.599> as<00:48:01.040> possible<00:48:02.040> um 00:48:02.829 --> 00:48:02.839 align:start position:0% development model as much as possible um 00:48:02.839 --> 00:48:07.309 align:start position:0% development model as much as possible um another<00:48:03.319> one<00:48:03.800> and<00:48:04.119> another<00:48:04.480> one<00:48:04.839> is<00:48:05.800> ideally 00:48:07.309 --> 00:48:07.319 align:start position:0% another one and another one is ideally 00:48:07.319 --> 00:48:11.109 align:start position:0% another one and another one is ideally you<00:48:08.319> you<00:48:08.400> know<00:48:08.640> there<00:48:09.599> try<00:48:09.960> to<00:48:10.400> make<00:48:10.720> try<00:48:10.960> to 00:48:11.109 --> 00:48:11.119 align:start position:0% you you know there try to make try to 00:48:11.119 --> 00:48:12.990 align:start position:0% you you know there try to make try to sort<00:48:11.280> of<00:48:11.839> every<00:48:12.160> time<00:48:12.440> there<00:48:12.640> is<00:48:12.800> a 00:48:12.990 --> 00:48:13.000 align:start position:0% sort of every time there is a 00:48:13.000 --> 00:48:15.270 align:start position:0% sort of every time there is a fundamental<00:48:13.599> tradeoff<00:48:14.520> basically<00:48:14.960> you<00:48:15.079> know 00:48:15.270 --> 00:48:15.280 align:start position:0% fundamental tradeoff basically you know 00:48:15.280 --> 00:48:17.670 align:start position:0% fundamental tradeoff basically you know I<00:48:15.400> think<00:48:15.640> you<00:48:16.240> good<00:48:16.559> design<00:48:17.040> should<00:48:17.400> instead 00:48:17.670 --> 00:48:17.680 align:start position:0% I think you good design should instead 00:48:17.680 --> 00:48:19.349 align:start position:0% I think you good design should instead of<00:48:17.880> making<00:48:18.160> the<00:48:18.319> trade-off<00:48:18.760> for<00:48:19.000> everyone 00:48:19.349 --> 00:48:19.359 align:start position:0% of making the trade-off for everyone 00:48:19.359 --> 00:48:22.190 align:start position:0% of making the trade-off for everyone sort<00:48:19.559> of<00:48:19.760> presents<00:48:20.160> the<00:48:20.359> tradeoff<00:48:21.359> so<00:48:21.599> for<00:48:21.839> ex 00:48:22.190 --> 00:48:22.200 align:start position:0% sort of presents the tradeoff so for ex 00:48:22.200 --> 00:48:23.870 align:start position:0% sort of presents the tradeoff so for ex one<00:48:22.559> possibility<00:48:23.040> for<00:48:23.200> example<00:48:23.520> would<00:48:23.640> be<00:48:23.760> to 00:48:23.870 --> 00:48:23.880 align:start position:0% one possibility for example would be to 00:48:23.880 --> 00:48:26.069 align:start position:0% one possibility for example would be to come<00:48:24.000> up<00:48:24.119> with<00:48:24.200> a<00:48:24.319> mechanism<00:48:24.920> that<00:48:25.680> offers<00:48:25.920> a 00:48:26.069 --> 00:48:26.079 align:start position:0% come up with a mechanism that offers a 00:48:26.079 --> 00:48:29.030 align:start position:0% come up with a mechanism that offers a choice<00:48:26.520> between<00:48:27.359> let's<00:48:27.680> say<00:48:28.680> offers<00:48:28.920> a 00:48:29.030 --> 00:48:29.040 align:start position:0% choice between let's say offers a 00:48:29.040 --> 00:48:31.109 align:start position:0% choice between let's say offers a trade-off<00:48:29.440> between<00:48:29.760> transaction<00:48:30.359> fees<00:48:30.880> for 00:48:31.109 --> 00:48:31.119 align:start position:0% trade-off between transaction fees for 00:48:31.119 --> 00:48:35.069 align:start position:0% trade-off between transaction fees for example<00:48:31.800> and<00:48:32.400> the<00:48:32.599> maximum<00:48:33.240> size<00:48:33.839> of<00:48:34.240> uh<00:48:34.920> of 00:48:35.069 --> 00:48:35.079 align:start position:0% example and the maximum size of uh of 00:48:35.079 --> 00:48:36.670 align:start position:0% example and the maximum size of uh of the<00:48:35.200> sort<00:48:35.359> of<00:48:35.520> radius<00:48:36.000> within<00:48:36.280> which<00:48:36.440> you<00:48:36.520> can 00:48:36.670 --> 00:48:36.680 align:start position:0% the sort of radius within which you can 00:48:36.680 --> 00:48:39.790 align:start position:0% the sort of radius within which you can do<00:48:36.839> you<00:48:36.960> can<00:48:37.079> do<00:48:37.240> synchronous<00:48:38.040> operations<00:48:39.040> so 00:48:39.790 --> 00:48:39.800 align:start position:0% do you can do synchronous operations so 00:48:39.800 --> 00:48:42.589 align:start position:0% do you can do synchronous operations so I<00:48:39.960> think<00:48:40.480> you<00:48:40.640> know<00:48:40.839> with<00:48:41.000> the<00:48:41.839> it's<00:48:42.079> not<00:48:42.280> so 00:48:42.589 --> 00:48:42.599 align:start position:0% I think you know with the it's not so 00:48:42.599 --> 00:48:47.150 align:start position:0% I think you know with the it's not so much<00:48:43.119> and<00:48:43.720> a<00:48:44.000> like<00:48:44.280> 100%<00:48:44.839> of<00:48:45.119> a<00:48:45.599> and<00:48:46.079> 100%<00:48:46.599> of<00:48:46.839> B 00:48:47.150 --> 00:48:47.160 align:start position:0% much and a like 100% of a and 100% of B 00:48:47.160 --> 00:48:50.150 align:start position:0% much and a like 100% of a and 100% of B are<00:48:47.559> probably<00:48:48.559> probably<00:48:48.839> not<00:48:49.079> possible<00:48:49.559> but 00:48:50.150 --> 00:48:50.160 align:start position:0% are probably probably not possible but 00:48:50.160 --> 00:48:53.430 align:start position:0% are probably probably not possible but the<00:48:50.359> choice<00:48:50.760> between<00:48:51.640> 100%<00:48:52.160> of<00:48:52.359> a<00:48:52.520> and<00:48:52.680> 20%<00:48:53.240> of 00:48:53.430 --> 00:48:53.440 align:start position:0% the choice between 100% of a and 20% of 00:48:53.440 --> 00:48:56.710 align:start position:0% the choice between 100% of a and 20% of B<00:48:54.079> and<00:48:54.400> 20%<00:48:54.920> of<00:48:55.040> a<00:48:55.160> and<00:48:55.359> 100<00:48:55.559> %<00:48:55.880> of<00:48:56.040> a<00:48:56.200> and<00:48:56.520> and<00:48:56.640> a 00:48:56.710 --> 00:48:56.720 align:start position:0% B and 20% of a and 100 % of a and and a 00:48:56.720 --> 00:48:58.190 align:start position:0% B and 20% of a and 100 % of a and and a whole<00:48:56.839> bunch<00:48:57.000> of<00:48:57.119> stuff<00:48:57.319> in<00:48:57.440> between<00:48:57.920> I<00:48:58.040> think 00:48:58.190 --> 00:48:58.200 align:start position:0% whole bunch of stuff in between I think 00:48:58.200 --> 00:49:00.150 align:start position:0% whole bunch of stuff in between I think completely 00:49:00.150 --> 00:49:00.160 align:start position:0% completely 00:49:00.160 --> 00:49:04.230 align:start position:0% completely viable<00:49:01.160> yeah<00:49:01.400> so 00:49:04.230 --> 00:49:04.240 align:start position:0% 00:49:04.240 --> 00:49:07.789 align:start position:0% property<00:49:05.480> um<00:49:06.480> I<00:49:06.640> still<00:49:06.799> a<00:49:06.880> little<00:49:07.079> jaet<00:49:07.319> leged 00:49:07.789 --> 00:49:07.799 align:start position:0% property um I still a little jaet leged 00:49:07.799 --> 00:49:11.549 align:start position:0% property um I still a little jaet leged um<00:49:08.319> so<00:49:08.680> um<00:49:09.480> yeah<00:49:09.640> properties<00:49:10.119> U<00:49:11.079> I<00:49:11.200> pretty<00:49:11.359> much 00:49:11.549 --> 00:49:11.559 align:start position:0% um so um yeah properties U I pretty much 00:49:11.559 --> 00:49:13.630 align:start position:0% um so um yeah properties U I pretty much agree<00:49:11.720> with<00:49:11.880> v<00:49:12.079> right<00:49:12.240> there<00:49:12.599> um<00:49:13.079> like<00:49:13.359> we<00:49:13.520> want 00:49:13.630 --> 00:49:13.640 align:start position:0% agree with v right there um like we want 00:49:13.640 --> 00:49:16.470 align:start position:0% agree with v right there um like we want to<00:49:13.839> keep<00:49:14.319> the<00:49:15.040> same<00:49:15.319> environment<00:49:15.799> programmers 00:49:16.470 --> 00:49:16.480 align:start position:0% to keep the same environment programmers 00:49:16.480 --> 00:49:20.109 align:start position:0% to keep the same environment programmers have<00:49:17.079> um<00:49:17.440> contract<00:49:17.920> developers<00:49:18.920> but<00:49:19.599> we<00:49:19.720> needs 00:49:20.109 --> 00:49:20.119 align:start position:0% have um contract developers but we needs 00:49:20.119 --> 00:49:24.910 align:start position:0% have um contract developers but we needs to<00:49:20.880> uh<00:49:21.040> add<00:49:21.319> this<00:49:22.000> um<00:49:22.839> property<00:49:23.240> or<00:49:23.480> notion<00:49:24.040> of 00:49:24.910 --> 00:49:24.920 align:start position:0% to uh add this um property or notion of 00:49:24.920 --> 00:49:26.270 align:start position:0% to uh add this um property or notion of uh<00:49:25.119> talking 00:49:26.270 --> 00:49:26.280 align:start position:0% uh talking 00:49:26.280 --> 00:49:29.190 align:start position:0% uh talking somewhere<00:49:26.720> far<00:49:26.960> away<00:49:27.760> and<00:49:28.440> how<00:49:28.680> how<00:49:28.799> do<00:49:28.920> we 00:49:29.190 --> 00:49:29.200 align:start position:0% somewhere far away and how how do we 00:49:29.200 --> 00:49:31.109 align:start position:0% somewhere far away and how how do we inter<00:49:29.960> how<00:49:30.040> do<00:49:30.160> we<00:49:30.319> inject<00:49:30.680> that<00:49:30.880> like<00:49:31.000> it 00:49:31.109 --> 00:49:31.119 align:start position:0% inter how do we inject that like it 00:49:31.119 --> 00:49:33.349 align:start position:0% inter how do we inject that like it can't<00:49:31.319> be<00:49:31.480> totally<00:49:32.440> uh<00:49:32.559> synchronous<00:49:33.079> or<00:49:33.240> we 00:49:33.349 --> 00:49:33.359 align:start position:0% can't be totally uh synchronous or we 00:49:33.359 --> 00:49:36.589 align:start position:0% can't be totally uh synchronous or we have<00:49:33.480> to<00:49:33.839> sacrifice<00:49:34.559> something<00:49:35.559> so<00:49:36.359> I<00:49:36.440> like 00:49:36.589 --> 00:49:36.599 align:start position:0% have to sacrifice something so I like 00:49:36.599 --> 00:49:39.470 align:start position:0% have to sacrifice something so I like the<00:49:36.680> property<00:49:37.079> of<00:49:37.240> being<00:49:37.480> asynchronous<00:49:38.480> uh 00:49:39.470 --> 00:49:39.480 align:start position:0% the property of being asynchronous uh 00:49:39.480 --> 00:49:40.950 align:start position:0% the property of being asynchronous uh and 00:49:40.950 --> 00:49:40.960 align:start position:0% and 00:49:40.960 --> 00:49:42.710 align:start position:0% and yeah 00:49:42.710 --> 00:49:42.720 align:start position:0% yeah 00:49:42.720 --> 00:49:46.549 align:start position:0% yeah much<00:49:43.839> um<00:49:44.839> yeah<00:49:45.160> my<00:49:45.480> view<00:49:45.599> on<00:49:45.720> it<00:49:45.839> is<00:49:46.200> I<00:49:46.280> think 00:49:46.549 --> 00:49:46.559 align:start position:0% much um yeah my view on it is I think 00:49:46.559 --> 00:49:49.789 align:start position:0% much um yeah my view on it is I think the<00:49:47.079> um<00:49:47.799> I<00:49:47.920> think<00:49:48.319> the<00:49:48.920> sort<00:49:49.079> of<00:49:49.200> transition<00:49:49.640> to 00:49:49.789 --> 00:49:49.799 align:start position:0% the um I think the sort of transition to 00:49:49.799 --> 00:49:51.430 align:start position:0% the um I think the sort of transition to theorum<00:49:50.079> to<00:49:50.280> will<00:49:50.400> take<00:49:50.599> longer<00:49:50.880> than<00:49:51.079> people 00:49:51.430 --> 00:49:51.440 align:start position:0% theorum to will take longer than people 00:49:51.440 --> 00:49:53.390 align:start position:0% theorum to will take longer than people expect<00:49:51.799> just<00:49:52.000> because<00:49:52.640> uh<00:49:52.720> the<00:49:52.839> protocols 00:49:53.390 --> 00:49:53.400 align:start position:0% expect just because uh the protocols 00:49:53.400 --> 00:49:56.030 align:start position:0% expect just because uh the protocols become<00:49:53.640> much<00:49:53.799> more<00:49:54.200> complex<00:49:54.760> when<00:49:54.960> you<00:49:55.680> uh 00:49:56.030 --> 00:49:56.040 align:start position:0% become much more complex when you uh 00:49:56.040 --> 00:49:59.270 align:start position:0% become much more complex when you uh start<00:49:56.359> dealing<00:49:56.640> with<00:49:57.079> uh<00:49:57.200> scale<00:49:57.520> out<00:49:58.280> systems 00:49:59.270 --> 00:49:59.280 align:start position:0% start dealing with uh scale out systems 00:49:59.280 --> 00:50:00.870 align:start position:0% start dealing with uh scale out systems um<00:49:59.839> having<00:50:00.040> said<00:50:00.319> that<00:50:00.440> you<00:50:00.559> know<00:50:00.680> I<00:50:00.760> think 00:50:00.870 --> 00:50:00.880 align:start position:0% um having said that you know I think 00:50:00.880 --> 00:50:02.990 align:start position:0% um having said that you know I think ethereum<00:50:01.520> surprised<00:50:02.000> everyone<00:50:02.319> me<00:50:02.480> included 00:50:02.990 --> 00:50:03.000 align:start position:0% ethereum surprised everyone me included 00:50:03.000 --> 00:50:04.589 align:start position:0% ethereum surprised everyone me included with<00:50:03.200> the<00:50:03.400> you<00:50:03.559> know<00:50:03.720> speed<00:50:04.000> of<00:50:04.359> its 00:50:04.589 --> 00:50:04.599 align:start position:0% with the you know speed of its 00:50:04.599 --> 00:50:06.190 align:start position:0% with the you know speed of its implementation<00:50:05.480> and<00:50:05.680> the<00:50:05.799> fact<00:50:05.960> that<00:50:06.079> it's 00:50:06.190 --> 00:50:06.200 align:start position:0% implementation and the fact that it's 00:50:06.200 --> 00:50:07.670 align:start position:0% implementation and the fact that it's been<00:50:06.400> so<00:50:06.640> stable<00:50:07.000> in 00:50:07.670 --> 00:50:07.680 align:start position:0% been so stable in 00:50:07.680 --> 00:50:12.069 align:start position:0% been so stable in production<00:50:08.920> um<00:50:09.920> so<00:50:10.599> yeah<00:50:11.599> way<00:50:11.799> to<00:50:11.880> be 00:50:12.069 --> 00:50:12.079 align:start position:0% production um so yeah way to be 00:50:12.079 --> 00:50:14.030 align:start position:0% production um so yeah way to be pleasantly 00:50:14.030 --> 00:50:14.040 align:start position:0% pleasantly 00:50:14.040 --> 00:50:19.670 align:start position:0% pleasantly surprised<00:50:15.040> yeah<00:50:15.400> um<00:50:16.240> so<00:50:17.240> I<00:50:17.359> think<00:50:17.760> that<00:50:18.760> the<00:50:19.520> we 00:50:19.670 --> 00:50:19.680 align:start position:0% surprised yeah um so I think that the we 00:50:19.680 --> 00:50:21.829 align:start position:0% surprised yeah um so I think that the we we're<00:50:19.839> still<00:50:20.079> in<00:50:20.200> a<00:50:20.359> stage<00:50:20.760> where<00:50:21.280> the<00:50:21.640> the 00:50:21.829 --> 00:50:21.839 align:start position:0% we're still in a stage where the the 00:50:21.839 --> 00:50:23.589 align:start position:0% we're still in a stage where the the most<00:50:22.240> that<00:50:22.400> we<00:50:22.520> could<00:50:22.760> imagine<00:50:23.200> that<00:50:23.319> we<00:50:23.440> can 00:50:23.589 --> 00:50:23.599 align:start position:0% most that we could imagine that we can 00:50:23.599 --> 00:50:27.270 align:start position:0% most that we could imagine that we can get<00:50:23.760> out<00:50:23.880> of<00:50:23.960> a<00:50:24.079> scaling<00:50:24.440> solution<00:50:25.240> is<00:50:25.559> is<00:50:26.559> is 00:50:27.270 --> 00:50:27.280 align:start position:0% get out of a scaling solution is is is 00:50:27.280 --> 00:50:29.270 align:start position:0% get out of a scaling solution is is is is<00:50:27.440> growing<00:50:27.920> like<00:50:28.079> we<00:50:28.200> can<00:50:28.440> imagine<00:50:28.839> scaling 00:50:29.270 --> 00:50:29.280 align:start position:0% is growing like we can imagine scaling 00:50:29.280 --> 00:50:31.230 align:start position:0% is growing like we can imagine scaling Solutions<00:50:29.799> today<00:50:30.240> that<00:50:30.480> offer<00:50:30.760> us<00:50:30.960> more 00:50:31.230 --> 00:50:31.240 align:start position:0% Solutions today that offer us more 00:50:31.240 --> 00:50:33.630 align:start position:0% Solutions today that offer us more guarantees<00:50:31.839> than<00:50:32.000> the<00:50:32.079> ones<00:50:32.359> that<00:50:32.559> we<00:50:33.400> than 00:50:33.630 --> 00:50:33.640 align:start position:0% guarantees than the ones that we than 00:50:33.640 --> 00:50:36.670 align:start position:0% guarantees than the ones that we than like<00:50:33.799> the<00:50:34.160> the<00:50:34.359> kind<00:50:34.480> of<00:50:34.640> first<00:50:35.240> order<00:50:36.240> scaling 00:50:36.670 --> 00:50:36.680 align:start position:0% like the the kind of first order scaling 00:50:36.680 --> 00:50:39.309 align:start position:0% like the the kind of first order scaling Solutions<00:50:37.240> like<00:50:37.680> the<00:50:37.799> one<00:50:37.960> in<00:50:38.200> metallic<00:50:39.000> paper 00:50:39.309 --> 00:50:39.319 align:start position:0% Solutions like the one in metallic paper 00:50:39.319 --> 00:50:40.589 align:start position:0% Solutions like the one in metallic paper which<00:50:39.520> by<00:50:39.640> the<00:50:39.720> way<00:50:39.839> I<00:50:39.920> recommend<00:50:40.359> everyone 00:50:40.589 --> 00:50:40.599 align:start position:0% which by the way I recommend everyone 00:50:40.599 --> 00:50:43.230 align:start position:0% which by the way I recommend everyone read<00:50:40.880> I<00:50:40.960> think<00:50:41.040> it's<00:50:41.160> super<00:50:41.480> compelling 00:50:43.230 --> 00:50:43.240 align:start position:0% read I think it's super compelling 00:50:43.240 --> 00:50:46.750 align:start position:0% read I think it's super compelling um<00:50:44.240> so<00:50:44.559> the<00:50:45.119> so<00:50:45.440> for<00:50:45.640> ethereum<00:50:46.040> 2.0<00:50:46.480> I<00:50:46.559> think<00:50:46.680> we 00:50:46.750 --> 00:50:46.760 align:start position:0% um so the so for ethereum 2.0 I think we 00:50:46.760 --> 00:50:48.630 align:start position:0% um so the so for ethereum 2.0 I think we can<00:50:46.920> have<00:50:47.079> a<00:50:47.200> lot<00:50:47.319> of<00:50:47.440> the<00:50:47.640> same<00:50:47.960> kind<00:50:48.119> of 00:50:48.630 --> 00:50:48.640 align:start position:0% can have a lot of the same kind of 00:50:48.640 --> 00:50:50.630 align:start position:0% can have a lot of the same kind of semantics<00:50:49.160> for<00:50:49.319> the<00:50:49.559> developers<00:50:50.079> and<00:50:50.240> I<00:50:50.480> think 00:50:50.630 --> 00:50:50.640 align:start position:0% semantics for the developers and I think 00:50:50.640 --> 00:50:52.190 align:start position:0% semantics for the developers and I think that<00:50:50.799> there<00:50:50.880> will<00:50:51.000> be<00:50:51.160> like<00:50:51.400> make<00:50:51.760> there<00:50:51.880> could 00:50:52.190 --> 00:50:52.200 align:start position:0% that there will be like make there could 00:50:52.200 --> 00:50:54.190 align:start position:0% that there will be like make there could potentially<00:50:52.520> be<00:50:52.680> relatively<00:50:53.200> small<00:50:53.520> changes 00:50:54.190 --> 00:50:54.200 align:start position:0% potentially be relatively small changes 00:50:54.200 --> 00:50:55.750 align:start position:0% potentially be relatively small changes that<00:50:54.319> will<00:50:54.480> only<00:50:54.720> affect<00:50:55.040> application<00:50:55.520> ations 00:50:55.750 --> 00:50:55.760 align:start position:0% that will only affect application ations 00:50:55.760 --> 00:50:57.670 align:start position:0% that will only affect application ations that<00:50:55.880> span<00:50:56.240> between 00:50:57.670 --> 00:50:57.680 align:start position:0% that span between 00:50:57.680 --> 00:51:00.990 align:start position:0% that span between shards<00:50:58.680> um<00:50:59.480> but<00:50:59.760> I<00:50:59.839> think<00:51:00.079> that<00:51:00.240> in<00:51:00.359> the<00:51:00.599> long 00:51:00.990 --> 00:51:01.000 align:start position:0% shards um but I think that in the long 00:51:01.000 --> 00:51:03.990 align:start position:0% shards um but I think that in the long run<00:51:01.520> we<00:51:01.640> shouldn't<00:51:02.200> should<00:51:02.400> not<00:51:02.559> be<00:51:02.760> bound<00:51:03.280> by 00:51:03.990 --> 00:51:04.000 align:start position:0% run we shouldn't should not be bound by 00:51:04.000 --> 00:51:07.829 align:start position:0% run we shouldn't should not be bound by backwards<00:51:04.839> compatibility<00:51:05.839> uh<00:51:06.079> if<00:51:06.640> it<00:51:06.799> means 00:51:07.829 --> 00:51:07.839 align:start position:0% backwards compatibility uh if it means 00:51:07.839 --> 00:51:11.390 align:start position:0% backwards compatibility uh if it means sacrificing<00:51:08.839> uh<00:51:09.720> scalability<00:51:10.720> and<00:51:10.960> general 00:51:11.390 --> 00:51:11.400 align:start position:0% sacrificing uh scalability and general 00:51:11.400 --> 00:51:14.270 align:start position:0% sacrificing uh scalability and general purpos<00:51:11.880> of<00:51:12.000> scaling<00:51:12.440> solutions<00:51:13.319> for<00:51:13.480> example 00:51:14.270 --> 00:51:14.280 align:start position:0% purpos of scaling solutions for example 00:51:14.280 --> 00:51:16.710 align:start position:0% purpos of scaling solutions for example uh<00:51:14.400> the<00:51:14.520> goal<00:51:14.720> of<00:51:15.079> providing<00:51:16.079> transitions<00:51:16.599> at 00:51:16.710 --> 00:51:16.720 align:start position:0% uh the goal of providing transitions at 00:51:16.720 --> 00:51:18.950 align:start position:0% uh the goal of providing transitions at different<00:51:16.920> levels<00:51:17.160> of<00:51:17.440> security<00:51:18.440> uh<00:51:18.599> is<00:51:18.760> one 00:51:18.950 --> 00:51:18.960 align:start position:0% different levels of security uh is one 00:51:18.960 --> 00:51:21.309 align:start position:0% different levels of security uh is one that<00:51:19.160> cannot<00:51:19.480> be<00:51:19.640> done<00:51:19.880> without<00:51:20.200> adding<00:51:21.200> um 00:51:21.309 --> 00:51:21.319 align:start position:0% that cannot be done without adding um 00:51:21.319 --> 00:51:24.190 align:start position:0% that cannot be done without adding um semantics<00:51:21.799> to<00:51:22.000> the<00:51:22.440> to<00:51:22.680> the<00:51:23.440> to<00:51:23.559> the<00:51:23.960> pro 00:51:24.190 --> 00:51:24.200 align:start position:0% semantics to the to the to the pro 00:51:24.200 --> 00:51:25.710 align:start position:0% semantics to the to the to the pro development<00:51:24.559> environment<00:51:25.119> you<00:51:25.480> because 00:51:25.710 --> 00:51:25.720 align:start position:0% development environment you because 00:51:25.720 --> 00:51:27.230 align:start position:0% development environment you because developers<00:51:26.160> will<00:51:26.319> need<00:51:26.440> to<00:51:26.559> say<00:51:26.839> whether<00:51:27.079> this 00:51:27.230 --> 00:51:27.240 align:start position:0% developers will need to say whether this 00:51:27.240 --> 00:51:29.150 align:start position:0% developers will need to say whether this needs<00:51:27.480> to<00:51:27.880> happen<00:51:28.119> at<00:51:28.240> a<00:51:28.319> low<00:51:28.520> level<00:51:28.799> security 00:51:29.150 --> 00:51:29.160 align:start position:0% needs to happen at a low level security 00:51:29.160 --> 00:51:30.230 align:start position:0% needs to happen at a low level security or<00:51:29.280> whether<00:51:29.440> it<00:51:29.559> needs<00:51:29.720> to<00:51:29.799> happen<00:51:29.960> at<00:51:30.040> a<00:51:30.119> high 00:51:30.230 --> 00:51:30.240 align:start position:0% or whether it needs to happen at a high 00:51:30.240 --> 00:51:31.510 align:start position:0% or whether it needs to happen at a high level 00:51:31.510 --> 00:51:31.520 align:start position:0% level 00:51:31.520 --> 00:51:35.309 align:start position:0% level security<00:51:32.520> so<00:51:32.680> it<00:51:32.799> seems<00:51:33.079> that<00:51:33.240> we've<00:51:34.200> um<00:51:35.200> uh 00:51:35.309 --> 00:51:35.319 align:start position:0% security so it seems that we've um uh 00:51:35.319 --> 00:51:38.230 align:start position:0% security so it seems that we've um uh We've<00:51:35.520> identified<00:51:36.119> three<00:51:36.559> potential<00:51:37.079> sort<00:51:37.280> of 00:51:38.230 --> 00:51:38.240 align:start position:0% We've identified three potential sort of 00:51:38.240 --> 00:51:40.750 align:start position:0% We've identified three potential sort of points<00:51:39.160> that<00:51:39.280> may<00:51:39.480> need<00:51:39.640> to<00:51:39.799> be<00:51:40.000> sacrificed<00:51:40.599> in 00:51:40.750 --> 00:51:40.760 align:start position:0% points that may need to be sacrificed in 00:51:40.760 --> 00:51:42.549 align:start position:0% points that may need to be sacrificed in some<00:51:41.000> sense<00:51:41.400> on<00:51:41.520> the<00:51:41.599> one<00:51:41.760> hand<00:51:41.920> there's 00:51:42.549 --> 00:51:42.559 align:start position:0% some sense on the one hand there's 00:51:42.559 --> 00:51:45.549 align:start position:0% some sense on the one hand there's synchronicity<00:51:43.559> then<00:51:43.799> there's<00:51:44.400> the<00:51:45.000> um<00:51:45.480> the 00:51:45.549 --> 00:51:45.559 align:start position:0% synchronicity then there's the um the 00:51:45.559 --> 00:51:47.950 align:start position:0% synchronicity then there's the um the fees<00:51:45.839> that<00:51:45.960> need<00:51:46.119> to<00:51:46.200> be<00:51:46.599> paid<00:51:47.599> and<00:51:47.760> then 00:51:47.950 --> 00:51:47.960 align:start position:0% fees that need to be paid and then 00:51:47.960 --> 00:51:49.870 align:start position:0% fees that need to be paid and then there's<00:51:48.720> um<00:51:48.920> the<00:51:49.040> speed<00:51:49.400> at<00:51:49.559> which<00:51:49.720> the 00:51:49.870 --> 00:51:49.880 align:start position:0% there's um the speed at which the 00:51:49.880 --> 00:51:52.470 align:start position:0% there's um the speed at which the transaction<00:51:50.480> actually<00:51:50.920> gets<00:51:51.240> fully<00:51:51.640> executed 00:51:52.470 --> 00:51:52.480 align:start position:0% transaction actually gets fully executed 00:51:52.480 --> 00:51:53.829 align:start position:0% transaction actually gets fully executed within<00:51:52.799> the<00:51:53.119> uh<00:51:53.240> within<00:51:53.480> the<00:51:53.559> state 00:51:53.829 --> 00:51:53.839 align:start position:0% within the uh within the state 00:51:53.839 --> 00:51:56.990 align:start position:0% within the uh within the state transition<00:51:54.359> system<00:51:55.799> um<00:51:56.280> do<00:51:56.400> you<00:51:56.599> think<00:51:56.880> that 00:51:56.990 --> 00:51:57.000 align:start position:0% transition system um do you think that 00:51:57.000 --> 00:51:58.910 align:start position:0% transition system um do you think that we'll<00:51:57.200> be<00:51:57.319> able<00:51:57.520> to<00:51:57.799> work<00:51:58.040> toward<00:51:58.359> a<00:51:58.520> model 00:51:58.910 --> 00:51:58.920 align:start position:0% we'll be able to work toward a model 00:51:58.920 --> 00:52:01.950 align:start position:0% we'll be able to work toward a model whereby<00:51:59.559> the<00:52:00.160> the<00:52:00.599> uh<00:52:01.160> the<00:52:01.319> programmer<00:52:01.760> is 00:52:01.950 --> 00:52:01.960 align:start position:0% whereby the the uh the programmer is 00:52:01.960 --> 00:52:03.950 align:start position:0% whereby the the uh the programmer is able<00:52:02.200> to<00:52:02.599> trade<00:52:02.960> these<00:52:03.160> three<00:52:03.440> off<00:52:03.680> against 00:52:03.950 --> 00:52:03.960 align:start position:0% able to trade these three off against 00:52:03.960 --> 00:52:06.150 align:start position:0% able to trade these three off against each<00:52:04.119> other<00:52:04.480> as<00:52:04.680> they<00:52:04.880> choose<00:52:05.640> or<00:52:05.839> do<00:52:05.960> you 00:52:06.150 --> 00:52:06.160 align:start position:0% each other as they choose or do you 00:52:06.160 --> 00:52:08.109 align:start position:0% each other as they choose or do you think<00:52:06.720> by<00:52:06.880> and<00:52:07.079> large<00:52:07.319> it's<00:52:07.480> going<00:52:07.640> to<00:52:07.839> have<00:52:07.960> to 00:52:08.109 --> 00:52:08.119 align:start position:0% think by and large it's going to have to 00:52:08.119 --> 00:52:10.589 align:start position:0% think by and large it's going to have to be<00:52:08.280> set<00:52:08.680> up<00:52:08.920> front<00:52:09.599> that's<00:52:10.000> that's<00:52:10.200> definitely 00:52:10.589 --> 00:52:10.599 align:start position:0% be set up front that's that's definitely 00:52:10.599 --> 00:52:11.990 align:start position:0% be set up front that's that's definitely at<00:52:10.720> least<00:52:10.960> my 00:52:11.990 --> 00:52:12.000 align:start position:0% at least my 00:52:12.000 --> 00:52:14.910 align:start position:0% at least my goal<00:52:13.000> um<00:52:13.520> to<00:52:13.760> what<00:52:13.920> extent<00:52:14.319> that<00:52:14.599> to<00:52:14.760> what 00:52:14.910 --> 00:52:14.920 align:start position:0% goal um to what extent that to what 00:52:14.920 --> 00:52:16.390 align:start position:0% goal um to what extent that to what extent<00:52:15.200> that's<00:52:15.359> going<00:52:15.480> to<00:52:15.599> be<00:52:15.839> possible<00:52:16.319> I 00:52:16.390 --> 00:52:16.400 align:start position:0% extent that's going to be possible I 00:52:16.400 --> 00:52:20.430 align:start position:0% extent that's going to be possible I mean<00:52:16.839> I<00:52:17.160> think<00:52:17.839> it<00:52:18.839> especially<00:52:19.480> between<00:52:20.040> es 00:52:20.430 --> 00:52:20.440 align:start position:0% mean I think it especially between es 00:52:20.440 --> 00:52:24.069 align:start position:0% mean I think it especially between es between<00:52:20.839> asynchrony<00:52:21.839> and<00:52:22.079> fees<00:52:22.920> at<00:52:23.160> Le<00:52:23.720> I'm 00:52:24.069 --> 00:52:24.079 align:start position:0% between asynchrony and fees at Le I'm 00:52:24.079 --> 00:52:25.870 align:start position:0% between asynchrony and fees at Le I'm I'm<00:52:24.280> fairly<00:52:24.720> confident 00:52:25.870 --> 00:52:25.880 align:start position:0% I'm fairly confident 00:52:25.880 --> 00:52:28.270 align:start position:0% I'm fairly confident I<00:52:26.200> haven't<00:52:26.520> spent<00:52:26.880> too<00:52:27.119> much<00:52:27.359> time<00:52:27.760> thinking 00:52:28.270 --> 00:52:28.280 align:start position:0% I haven't spent too much time thinking 00:52:28.280 --> 00:52:29.950 align:start position:0% I haven't spent too much time thinking about<00:52:28.599> the<00:52:28.839> idea<00:52:29.200> of<00:52:29.400> kind<00:52:29.520> of<00:52:29.680> letting 00:52:29.950 --> 00:52:29.960 align:start position:0% about the idea of kind of letting 00:52:29.960 --> 00:52:32.950 align:start position:0% about the idea of kind of letting developers<00:52:30.520> choose<00:52:30.960> security<00:52:31.480> levels<00:52:32.480> mainly 00:52:32.950 --> 00:52:32.960 align:start position:0% developers choose security levels mainly 00:52:32.960 --> 00:52:35.430 align:start position:0% developers choose security levels mainly because<00:52:33.359> I<00:52:33.480> think<00:52:34.119> up<00:52:34.280> until<00:52:34.599> now<00:52:35.040> like<00:52:35.200> like 00:52:35.430 --> 00:52:35.440 align:start position:0% because I think up until now like like 00:52:35.440 --> 00:52:36.750 align:start position:0% because I think up until now like like myself<00:52:35.720> and<00:52:35.880> all<00:52:35.960> of<00:52:36.079> us<00:52:36.200> have<00:52:36.359> been<00:52:36.480> working 00:52:36.750 --> 00:52:36.760 align:start position:0% myself and all of us have been working 00:52:36.760 --> 00:52:39.190 align:start position:0% myself and all of us have been working in<00:52:36.920> this<00:52:37.119> model<00:52:37.559> where<00:52:37.839> sort<00:52:38.040> of<00:52:38.520> it's<00:52:38.760> assumed 00:52:39.190 --> 00:52:39.200 align:start position:0% in this model where sort of it's assumed 00:52:39.200 --> 00:52:40.549 align:start position:0% in this model where sort of it's assumed that<00:52:39.400> everything<00:52:39.640> is<00:52:39.799> going<00:52:39.960> to<00:52:40.119> work<00:52:40.359> and 00:52:40.549 --> 00:52:40.559 align:start position:0% that everything is going to work and 00:52:40.559 --> 00:52:42.829 align:start position:0% that everything is going to work and allowing<00:52:41.040> even<00:52:41.400> one<00:52:41.599> fault<00:52:42.000> is<00:52:42.160> sort<00:52:42.359> of<00:52:42.559> cons 00:52:42.829 --> 00:52:42.839 align:start position:0% allowing even one fault is sort of cons 00:52:42.839 --> 00:52:45.309 align:start position:0% allowing even one fault is sort of cons considered<00:52:43.640> Unthinkable<00:52:44.640> and<00:52:44.880> of<00:52:45.000> course<00:52:45.200> the 00:52:45.309 --> 00:52:45.319 align:start position:0% considered Unthinkable and of course the 00:52:45.319 --> 00:52:46.910 align:start position:0% considered Unthinkable and of course the reason<00:52:45.640> is<00:52:45.799> that<00:52:45.960> if<00:52:46.079> you<00:52:46.280> don't<00:52:46.599> have<00:52:46.760> that 00:52:46.910 --> 00:52:46.920 align:start position:0% reason is that if you don't have that 00:52:46.920 --> 00:52:48.309 align:start position:0% reason is that if you don't have that model<00:52:47.240> and<00:52:47.400> once<00:52:47.559> you<00:52:47.720> get<00:52:47.880> to<00:52:48.040> the<00:52:48.160> point 00:52:48.309 --> 00:52:48.319 align:start position:0% model and once you get to the point 00:52:48.319 --> 00:52:50.309 align:start position:0% model and once you get to the point where<00:52:48.480> the<00:52:48.599> network<00:52:48.920> is<00:52:49.040> supposed<00:52:49.359> to<00:52:49.520> survive 00:52:50.309 --> 00:52:50.319 align:start position:0% where the network is supposed to survive 00:52:50.319 --> 00:52:53.589 align:start position:0% where the network is supposed to survive supposed<00:52:50.640> to<00:52:50.799> survive<00:52:51.760> successful<00:52:52.599> attacks 00:52:53.589 --> 00:52:53.599 align:start position:0% supposed to survive successful attacks 00:52:53.599 --> 00:52:55.990 align:start position:0% supposed to survive successful attacks then<00:52:54.520> you<00:52:54.640> know<00:52:54.920> Apple<00:52:55.200> app<00:52:55.400> ation<00:52:55.720> all<00:52:55.880> have 00:52:55.990 --> 00:52:56.000 align:start position:0% then you know Apple app ation all have 00:52:56.000 --> 00:52:57.870 align:start position:0% then you know Apple app ation all have to<00:52:56.200> start<00:52:56.400> worrying<00:52:56.839> about<00:52:57.200> well<00:52:57.520> what<00:52:57.640> if 00:52:57.870 --> 00:52:57.880 align:start position:0% to start worrying about well what if 00:52:57.880 --> 00:53:00.190 align:start position:0% to start worrying about well what if someone<00:52:58.240> you<00:52:58.359> know<00:52:58.599> moves<00:52:59.359> moves<00:52:59.680> a<00:52:59.799> trillion 00:53:00.190 --> 00:53:00.200 align:start position:0% someone you know moves moves a trillion 00:53:00.200 --> 00:53:02.150 align:start position:0% someone you know moves moves a trillion ether<00:53:00.520> into<00:53:00.720> this<00:53:00.920> account<00:53:01.559> or<00:53:01.799> prints<00:53:02.040> a 00:53:02.150 --> 00:53:02.160 align:start position:0% ether into this account or prints a 00:53:02.160 --> 00:53:03.670 align:start position:0% ether into this account or prints a trilon<00:53:02.440> ether<00:53:02.680> out<00:53:02.799> of<00:53:02.920> this<00:53:03.040> account<00:53:03.440> here 00:53:03.670 --> 00:53:03.680 align:start position:0% trilon ether out of this account here 00:53:03.680 --> 00:53:05.670 align:start position:0% trilon ether out of this account here then<00:53:03.799> you<00:53:03.920> have<00:53:04.040> contagion<00:53:04.680> problems<00:53:05.520> and 00:53:05.670 --> 00:53:05.680 align:start position:0% then you have contagion problems and 00:53:05.680 --> 00:53:06.910 align:start position:0% then you have contagion problems and then<00:53:05.839> you<00:53:05.960> know<00:53:06.119> different<00:53:06.400> applications 00:53:06.910 --> 00:53:06.920 align:start position:0% then you know different applications 00:53:06.920 --> 00:53:10.230 align:start position:0% then you know different applications have<00:53:07.040> to<00:53:07.160> start<00:53:07.359> dealing<00:53:07.720> with<00:53:07.960> this<00:53:09.000> so<00:53:10.000> like 00:53:10.230 --> 00:53:10.240 align:start position:0% have to start dealing with this so like 00:53:10.240 --> 00:53:12.910 align:start position:0% have to start dealing with this so like there<00:53:10.400> are<00:53:10.680> I<00:53:10.760> think<00:53:11.079> possibilities<00:53:12.000> like<00:53:12.319> one 00:53:12.910 --> 00:53:12.920 align:start position:0% there are I think possibilities like one 00:53:12.920 --> 00:53:14.829 align:start position:0% there are I think possibilities like one one<00:53:13.200> idea<00:53:13.559> that<00:53:13.720> I've<00:53:13.880> had<00:53:14.000> is<00:53:14.160> this<00:53:14.359> idea<00:53:14.640> of 00:53:14.829 --> 00:53:14.839 align:start position:0% one idea that I've had is this idea of 00:53:14.839 --> 00:53:16.750 align:start position:0% one idea that I've had is this idea of having<00:53:15.119> kind<00:53:15.280> of<00:53:15.799> sort<00:53:16.000> of<00:53:16.200> islands<00:53:16.599> of 00:53:16.750 --> 00:53:16.760 align:start position:0% having kind of sort of islands of 00:53:16.760 --> 00:53:18.910 align:start position:0% having kind of sort of islands of decreasing<00:53:17.400> of<00:53:17.559> decreasing<00:53:18.200> security<00:53:18.680> where 00:53:18.910 --> 00:53:18.920 align:start position:0% decreasing of decreasing security where 00:53:18.920 --> 00:53:20.950 align:start position:0% decreasing of decreasing security where things<00:53:19.319> that<00:53:19.440> are<00:53:19.720> from<00:53:20.240> that<00:53:20.359> are<00:53:20.520> sort<00:53:20.640> of<00:53:20.799> in 00:53:20.950 --> 00:53:20.960 align:start position:0% things that are from that are sort of in 00:53:20.960 --> 00:53:22.670 align:start position:0% things that are from that are sort of in higher<00:53:21.240> security<00:53:21.599> levels<00:53:21.880> can<00:53:22.040> filter<00:53:22.440> down 00:53:22.670 --> 00:53:22.680 align:start position:0% higher security levels can filter down 00:53:22.680 --> 00:53:24.510 align:start position:0% higher security levels can filter down but<00:53:22.799> you<00:53:23.040> can't<00:53:23.319> filter<00:53:23.720> up<00:53:23.960> at<00:53:24.079> least<00:53:24.240> within 00:53:24.510 --> 00:53:24.520 align:start position:0% but you can't filter up at least within 00:53:24.520 --> 00:53:26.630 align:start position:0% but you can't filter up at least within one<00:53:24.680> transaction<00:53:25.480> or<00:53:25.880> you<00:53:26.000> know<00:53:26.200> without<00:53:26.480> some 00:53:26.630 --> 00:53:26.640 align:start position:0% one transaction or you know without some 00:53:26.640 --> 00:53:28.270 align:start position:0% one transaction or you know without some sort<00:53:26.799> of<00:53:27.000> particularly<00:53:27.559> special<00:53:27.839> set<00:53:28.000> of 00:53:28.270 --> 00:53:28.280 align:start position:0% sort of particularly special set of 00:53:28.280 --> 00:53:31.430 align:start position:0% sort of particularly special set of rules<00:53:29.280> but<00:53:29.559> that's<00:53:30.559> that<00:53:30.720> I<00:53:30.880> think<00:53:31.119> is<00:53:31.280> going 00:53:31.430 --> 00:53:31.440 align:start position:0% rules but that's that I think is going 00:53:31.440 --> 00:53:34.270 align:start position:0% rules but that's that I think is going to<00:53:31.599> take<00:53:31.799> more<00:53:32.040> work<00:53:32.440> particularly<00:53:33.280> because 00:53:34.270 --> 00:53:34.280 align:start position:0% to take more work particularly because 00:53:34.280 --> 00:53:36.349 align:start position:0% to take more work particularly because outside<00:53:35.079> outside<00:53:35.520> of<00:53:35.680> the<00:53:35.799> decentralized 00:53:36.349 --> 00:53:36.359 align:start position:0% outside outside of the decentralized 00:53:36.359 --> 00:53:38.430 align:start position:0% outside outside of the decentralized cryptoeconomic<00:53:37.160> context<00:53:37.640> people<00:53:37.880> aren't<00:53:38.280> as 00:53:38.430 --> 00:53:38.440 align:start position:0% cryptoeconomic context people aren't as 00:53:38.440 --> 00:53:40.270 align:start position:0% cryptoeconomic context people aren't as used<00:53:38.720> to<00:53:38.880> the<00:53:39.040> idea<00:53:39.400> that<00:53:39.559> well<00:53:39.760> operations 00:53:40.270 --> 00:53:40.280 align:start position:0% used to the idea that well operations 00:53:40.280 --> 00:53:42.990 align:start position:0% used to the idea that well operations can<00:53:40.440> just<00:53:40.640> randomly<00:53:41.400> fail<00:53:42.400> like<00:53:42.640> that's 00:53:42.990 --> 00:53:43.000 align:start position:0% can just randomly fail like that's 00:53:43.000 --> 00:53:45.549 align:start position:0% can just randomly fail like that's almost<00:53:43.599> kind<00:53:43.720> of<00:53:43.920> a<00:53:44.480> almost<00:53:44.680> a<00:53:44.880> biologist<00:53:45.440> way 00:53:45.549 --> 00:53:45.559 align:start position:0% almost kind of a almost a biologist way 00:53:45.559 --> 00:53:47.150 align:start position:0% almost kind of a almost a biologist way of<00:53:45.760> think<00:53:46.160> of<00:53:46.280> thinking<00:53:46.559> about<00:53:46.799> things<00:53:47.040> to 00:53:47.150 --> 00:53:47.160 align:start position:0% of think of thinking about things to 00:53:47.160 --> 00:53:50.349 align:start position:0% of think of thinking about things to some 00:53:50.349 --> 00:53:50.359 align:start position:0% 00:53:50.359 --> 00:53:52.950 align:start position:0% degree 00:53:52.950 --> 00:53:52.960 align:start position:0% degree 00:53:52.960 --> 00:53:57.470 align:start position:0% degree um<00:53:54.160> yeah<00:53:55.240> I<00:53:55.400> think<00:53:56.000> well<00:53:56.400> so<00:53:57.040> one<00:53:57.280> one 00:53:57.470 --> 00:53:57.480 align:start position:0% um yeah I think well so one one 00:53:57.480 --> 00:53:59.549 align:start position:0% um yeah I think well so one one interesting<00:53:57.880> thing<00:53:58.079> with<00:53:58.359> uh<00:53:58.559> asynchronicity 00:53:59.549 --> 00:53:59.559 align:start position:0% interesting thing with uh asynchronicity 00:53:59.559 --> 00:54:03.710 align:start position:0% interesting thing with uh asynchronicity is<00:54:00.400> there<00:54:01.280> you<00:54:01.720> probably<00:54:02.079> could<00:54:02.359> also<00:54:02.839> pretend 00:54:03.710 --> 00:54:03.720 align:start position:0% is there you probably could also pretend 00:54:03.720 --> 00:54:07.150 align:start position:0% is there you probably could also pretend to<00:54:03.960> have<00:54:04.160> synchronous<00:54:04.760> calls<00:54:05.359> by<00:54:06.359> um<00:54:06.799> pushing 00:54:07.150 --> 00:54:07.160 align:start position:0% to have synchronous calls by um pushing 00:54:07.160 --> 00:54:08.710 align:start position:0% to have synchronous calls by um pushing all<00:54:07.359> your<00:54:07.520> work<00:54:07.799> up<00:54:08.040> front<00:54:08.280> and<00:54:08.480> like 00:54:08.710 --> 00:54:08.720 align:start position:0% all your work up front and like 00:54:08.720 --> 00:54:11.109 align:start position:0% all your work up front and like downloading<00:54:09.720> forcing<00:54:10.240> the<00:54:10.400> validator<00:54:10.920> to 00:54:11.109 --> 00:54:11.119 align:start position:0% downloading forcing the validator to 00:54:11.119 --> 00:54:12.990 align:start position:0% downloading forcing the validator to like<00:54:11.359> download<00:54:11.960> act<00:54:12.200> as<00:54:12.359> L<00:54:12.520> and<00:54:12.640> Kay<00:54:12.880> and 00:54:12.990 --> 00:54:13.000 align:start position:0% like download act as L and Kay and 00:54:13.000 --> 00:54:16.390 align:start position:0% like download act as L and Kay and download<00:54:13.799> like<00:54:14.240> other<00:54:14.799> other<00:54:15.240> substate<00:54:16.240> that 00:54:16.390 --> 00:54:16.400 align:start position:0% download like other other substate that 00:54:16.400 --> 00:54:20.710 align:start position:0% download like other other substate that didn't<00:54:16.680> have<00:54:16.839> and<00:54:16.960> didn't<00:54:17.160> run<00:54:17.319> it<00:54:17.960> but<00:54:18.559> um<00:54:19.720> so 00:54:20.710 --> 00:54:20.720 align:start position:0% didn't have and didn't run it but um so 00:54:20.720 --> 00:54:22.549 align:start position:0% didn't have and didn't run it but um so you<00:54:21.079> could<00:54:21.880> I 00:54:22.549 --> 00:54:22.559 align:start position:0% you could I 00:54:22.559 --> 00:54:26.030 align:start position:0% you could I suppose<00:54:23.559> uh<00:54:23.760> make<00:54:23.920> it<00:54:24.119> look<00:54:24.520> like<00:54:24.720> it<00:54:25.160> running 00:54:26.030 --> 00:54:26.040 align:start position:0% suppose uh make it look like it running 00:54:26.040 --> 00:54:28.589 align:start position:0% suppose uh make it look like it running um<00:54:26.440> synchronous<00:54:27.200> but<00:54:27.640> it<00:54:27.760> would<00:54:28.240> actually 00:54:28.589 --> 00:54:28.599 align:start position:0% um synchronous but it would actually 00:54:28.599 --> 00:54:30.309 align:start position:0% um synchronous but it would actually just<00:54:28.799> take<00:54:29.240> the<00:54:29.359> whole<00:54:29.559> transaction<00:54:30.119> would 00:54:30.309 --> 00:54:30.319 align:start position:0% just take the whole transaction would 00:54:30.319 --> 00:54:33.589 align:start position:0% just take the whole transaction would just<00:54:30.480> take<00:54:30.680> longer<00:54:31.680> so<00:54:32.119> um<00:54:33.000> that's<00:54:33.200> one 00:54:33.589 --> 00:54:33.599 align:start position:0% just take longer so um that's one 00:54:33.599 --> 00:54:36.309 align:start position:0% just take longer so um that's one trade-off<00:54:34.599> uh<00:54:35.240> the<00:54:35.520> yeah<00:54:35.680> I<00:54:35.799> hadn't<00:54:36.079> really 00:54:36.309 --> 00:54:36.319 align:start position:0% trade-off uh the yeah I hadn't really 00:54:36.319 --> 00:54:38.349 align:start position:0% trade-off uh the yeah I hadn't really thought<00:54:36.599> about<00:54:37.160> the<00:54:37.359> different<00:54:37.680> levels<00:54:38.040> of 00:54:38.349 --> 00:54:38.359 align:start position:0% thought about the different levels of 00:54:38.359 --> 00:54:42.710 align:start position:0% thought about the different levels of security<00:54:39.359> um<00:54:39.960> and<00:54:40.200> then<00:54:41.040> um<00:54:41.839> yeah<00:54:42.400> taking 00:54:42.710 --> 00:54:42.720 align:start position:0% security um and then um yeah taking 00:54:42.720 --> 00:54:45.349 align:start position:0% security um and then um yeah taking longer<00:54:43.160> for<00:54:43.440> the<00:54:43.799> uh<00:54:44.040> the<00:54:44.720> uh<00:54:45.000> State 00:54:45.349 --> 00:54:45.359 align:start position:0% longer for the uh the uh State 00:54:45.359 --> 00:54:49.750 align:start position:0% longer for the uh the uh State transition<00:54:46.319> well<00:54:46.839> that<00:54:47.839> yeah<00:54:48.000> I<00:54:48.079> think<00:54:48.319> that 00:54:49.750 --> 00:54:49.760 align:start position:0% transition well that yeah I think that 00:54:49.760 --> 00:54:52.069 align:start position:0% transition well that yeah I think that uh<00:54:50.760> I<00:54:50.839> don't<00:54:51.040> think<00:54:51.200> the<00:54:51.359> programmers<00:54:51.839> would 00:54:52.069 --> 00:54:52.079 align:start position:0% uh I don't think the programmers would 00:54:52.079 --> 00:54:55.990 align:start position:0% uh I don't think the programmers would have<00:54:52.400> access<00:54:53.000> to<00:54:53.559> the<00:54:53.799> state<00:54:54.119> transition<00:54:55.240> so 00:54:55.990 --> 00:54:56.000 align:start position:0% have access to the state transition so 00:54:56.000 --> 00:54:58.190 align:start position:0% have access to the state transition so um<00:54:56.520> I'm<00:54:56.640> not<00:54:56.920> not<00:54:57.079> for<00:54:57.200> sure<00:54:57.440> how<00:54:57.799> that<00:54:58.040> that 00:54:58.190 --> 00:54:58.200 align:start position:0% um I'm not not for sure how that that 00:54:58.200 --> 00:55:02.190 align:start position:0% um I'm not not for sure how that that would<00:54:58.400> work<00:54:59.079> but 00:55:02.190 --> 00:55:02.200 align:start position:0% 00:55:02.200 --> 00:55:04.910 align:start position:0% yeah<00:55:03.200> yeah<00:55:03.359> so<00:55:03.559> this<00:55:03.839> um<00:55:04.119> the<00:55:04.480> the 00:55:04.910 --> 00:55:04.920 align:start position:0% yeah yeah so this um the the 00:55:04.920 --> 00:55:08.030 align:start position:0% yeah yeah so this um the the configurable<00:55:05.559> validation<00:55:06.480> um<00:55:07.160> is<00:55:07.280> a<00:55:07.520> really 00:55:08.030 --> 00:55:08.040 align:start position:0% configurable validation um is a really 00:55:08.040 --> 00:55:11.109 align:start position:0% configurable validation um is a really important<00:55:08.400> area<00:55:08.960> um<00:55:09.880> I<00:55:09.960> think<00:55:10.319> that<00:55:10.760> with<00:55:10.920> with 00:55:11.109 --> 00:55:11.119 align:start position:0% important area um I think that with with 00:55:11.119 --> 00:55:14.030 align:start position:0% important area um I think that with with scalable<00:55:11.640> blockchains<00:55:12.280> the<00:55:12.599> cost<00:55:12.960> per<00:55:13.880> uh 00:55:14.030 --> 00:55:14.040 align:start position:0% scalable blockchains the cost per uh 00:55:14.040 --> 00:55:16.589 align:start position:0% scalable blockchains the cost per uh transaction<00:55:14.640> becomes<00:55:14.960> very<00:55:15.280> low<00:55:16.280> the<00:55:16.400> main 00:55:16.589 --> 00:55:16.599 align:start position:0% transaction becomes very low the main 00:55:16.599 --> 00:55:18.710 align:start position:0% transaction becomes very low the main reason<00:55:16.799> you'd<00:55:17.000> want<00:55:17.119> to<00:55:17.280> reduce<00:55:17.720> the<00:55:18.480> number 00:55:18.710 --> 00:55:18.720 align:start position:0% reason you'd want to reduce the number 00:55:18.720 --> 00:55:21.829 align:start position:0% reason you'd want to reduce the number of<00:55:18.839> levels<00:55:19.160> of<00:55:19.480> validation<00:55:20.480> is<00:55:20.799> for<00:55:21.160> reduced 00:55:21.829 --> 00:55:21.839 align:start position:0% of levels of validation is for reduced 00:55:21.839 --> 00:55:25.270 align:start position:0% of levels of validation is for reduced latency<00:55:22.839> okay<00:55:23.720> um<00:55:24.359> there<00:55:24.520> are<00:55:24.640> some 00:55:25.270 --> 00:55:25.280 align:start position:0% latency okay um there are some 00:55:25.280 --> 00:55:27.549 align:start position:0% latency okay um there are some complexities<00:55:26.280> um<00:55:26.520> one<00:55:26.640> of<00:55:26.760> them<00:55:26.960> is<00:55:27.160> that<00:55:27.440> when 00:55:27.549 --> 00:55:27.559 align:start position:0% complexities um one of them is that when 00:55:27.559 --> 00:55:30.390 align:start position:0% complexities um one of them is that when you<00:55:27.839> pay<00:55:28.200> a<00:55:28.599> you<00:55:28.720> know<00:55:29.400> if<00:55:29.559> every<00:55:29.799> transaction 00:55:30.390 --> 00:55:30.400 align:start position:0% you pay a you know if every transaction 00:55:30.400 --> 00:55:33.349 align:start position:0% you pay a you know if every transaction pays<00:55:31.039> a<00:55:31.240> fee<00:55:32.039> right<00:55:32.599> every<00:55:32.799> transaction 00:55:33.349 --> 00:55:33.359 align:start position:0% pays a fee right every transaction 00:55:33.359 --> 00:55:35.829 align:start position:0% pays a fee right every transaction involves<00:55:34.039> a<00:55:34.200> currency<00:55:34.599> transfer<00:55:35.440> so<00:55:35.640> you 00:55:35.829 --> 00:55:35.839 align:start position:0% involves a currency transfer so you 00:55:35.839 --> 00:55:37.349 align:start position:0% involves a currency transfer so you can't<00:55:36.160> really<00:55:36.440> easily<00:55:36.839> reduce<00:55:37.200> the 00:55:37.349 --> 00:55:37.359 align:start position:0% can't really easily reduce the 00:55:37.359 --> 00:55:39.789 align:start position:0% can't really easily reduce the validation<00:55:37.799> on<00:55:37.960> it<00:55:38.280> because<00:55:39.280> um<00:55:39.480> you<00:55:39.599> know 00:55:39.789 --> 00:55:39.799 align:start position:0% validation on it because um you know 00:55:39.799 --> 00:55:41.589 align:start position:0% validation on it because um you know even<00:55:40.039> though<00:55:40.200> the<00:55:40.359> transaction<00:55:40.880> fee<00:55:41.200> itself 00:55:41.589 --> 00:55:41.599 align:start position:0% even though the transaction fee itself 00:55:41.599 --> 00:55:44.910 align:start position:0% even though the transaction fee itself might<00:55:41.760> be<00:55:41.920> you<00:55:42.039> know<00:55:42.720> 1,000th<00:55:43.640> of<00:55:43.799> a<00:55:44.000> cent<00:55:44.799> it 00:55:44.910 --> 00:55:44.920 align:start position:0% might be you know 1,000th of a cent it 00:55:44.920 --> 00:55:46.470 align:start position:0% might be you know 1,000th of a cent it could<00:55:45.039> be<00:55:45.200> like<00:55:45.400> whoops<00:55:45.760> I'm<00:55:45.880> the<00:55:46.000> minor<00:55:46.319> and 00:55:46.470 --> 00:55:46.480 align:start position:0% could be like whoops I'm the minor and 00:55:46.480 --> 00:55:48.750 align:start position:0% could be like whoops I'm the minor and I've<00:55:46.720> just<00:55:47.039> you<00:55:47.160> know<00:55:47.480> credited<00:55:47.960> my<00:55:48.200> account 00:55:48.750 --> 00:55:48.760 align:start position:0% I've just you know credited my account 00:55:48.760 --> 00:55:52.190 align:start position:0% I've just you know credited my account by<00:55:48.960> ,000<00:55:49.960> right<00:55:50.559> so<00:55:51.160> uh<00:55:51.480> one<00:55:51.760> one<00:55:51.960> way<00:55:52.079> of 00:55:52.190 --> 00:55:52.200 align:start position:0% by ,000 right so uh one one way of 00:55:52.200 --> 00:55:54.589 align:start position:0% by ,000 right so uh one one way of addressing<00:55:52.640> that<00:55:52.839> is<00:55:53.039> to<00:55:53.520> have<00:55:54.000> probabilistic 00:55:54.589 --> 00:55:54.599 align:start position:0% addressing that is to have probabilistic 00:55:54.599 --> 00:55:57.470 align:start position:0% addressing that is to have probabilistic fees<00:55:55.039> so<00:55:55.280> you<00:55:55.400> know<00:55:56.039> um<00:55:56.720> you<00:55:56.880> only<00:55:57.160> pay<00:55:57.359> your 00:55:57.470 --> 00:55:57.480 align:start position:0% fees so you know um you only pay your 00:55:57.480 --> 00:55:59.990 align:start position:0% fees so you know um you only pay your fee<00:55:57.760> one<00:55:57.920> every<00:55:58.240> hundred<00:55:58.640> times<00:55:59.640> right<00:55:59.799> so 00:55:59.990 --> 00:56:00.000 align:start position:0% fee one every hundred times right so 00:56:00.000 --> 00:56:02.390 align:start position:0% fee one every hundred times right so your<00:56:00.160> fee<00:56:00.480> is<00:56:01.280> 100<00:56:01.599> times<00:56:01.839> what<00:56:01.960> it<00:56:02.079> would<00:56:02.240> be 00:56:02.390 --> 00:56:02.400 align:start position:0% your fee is 100 times what it would be 00:56:02.400 --> 00:56:03.829 align:start position:0% your fee is 100 times what it would be but<00:56:02.520> you<00:56:02.599> only<00:56:02.799> pay<00:56:03.000> it<00:56:03.119> one<00:56:03.280> every<00:56:03.520> hundred 00:56:03.829 --> 00:56:03.839 align:start position:0% but you only pay it one every hundred 00:56:03.839 --> 00:56:07.190 align:start position:0% but you only pay it one every hundred times<00:56:04.680> right<00:56:04.839> so<00:56:05.160> then<00:56:05.280> if<00:56:05.400> you<00:56:05.559> have<00:56:06.200> reduced 00:56:07.190 --> 00:56:07.200 align:start position:0% times right so then if you have reduced 00:56:07.200 --> 00:56:09.349 align:start position:0% times right so then if you have reduced uh<00:56:08.200> then<00:56:08.280> if<00:56:08.400> the<00:56:08.520> application<00:56:08.920> developer 00:56:09.349 --> 00:56:09.359 align:start position:0% uh then if the application developer 00:56:09.359 --> 00:56:11.230 align:start position:0% uh then if the application developer specifies<00:56:10.039> a<00:56:10.160> lower<00:56:10.440> level<00:56:10.599> of 00:56:11.230 --> 00:56:11.240 align:start position:0% specifies a lower level of 00:56:11.240 --> 00:56:15.029 align:start position:0% specifies a lower level of validation<00:56:12.240> um<00:56:13.079> you<00:56:13.240> know<00:56:13.440> 99<00:56:14.000> times<00:56:14.240> out<00:56:14.359> of 00:56:15.029 --> 00:56:15.039 align:start position:0% validation um you know 99 times out of 00:56:15.039 --> 00:56:16.990 align:start position:0% validation um you know 99 times out of 100<00:56:16.039> uh<00:56:16.240> they're<00:56:16.440> not<00:56:16.559> going<00:56:16.680> to<00:56:16.760> pay<00:56:16.920> a 00:56:16.990 --> 00:56:17.000 align:start position:0% 100 uh they're not going to pay a 00:56:17.000 --> 00:56:19.190 align:start position:0% 100 uh they're not going to pay a transaction<00:56:17.480> fee<00:56:17.799> and<00:56:18.000> therefore<00:56:18.359> it's<00:56:19.039> they 00:56:19.190 --> 00:56:19.200 align:start position:0% transaction fee and therefore it's they 00:56:19.200 --> 00:56:21.230 align:start position:0% transaction fee and therefore it's they they<00:56:19.359> get<00:56:19.599> that<00:56:19.880> reduced<00:56:20.359> level<00:56:20.599> of 00:56:21.230 --> 00:56:21.240 align:start position:0% they get that reduced level of 00:56:21.240 --> 00:56:22.710 align:start position:0% they get that reduced level of validation<00:56:21.760> and<00:56:21.920> they<00:56:22.000> get<00:56:22.160> the<00:56:22.240> low<00:56:22.480> L 00:56:22.710 --> 00:56:22.720 align:start position:0% validation and they get the low L 00:56:22.720 --> 00:56:25.589 align:start position:0% validation and they get the low L latency<00:56:23.599> but<00:56:23.760> one<00:56:23.960> time<00:56:24.160> out<00:56:24.319> of<00:56:24.440> a<00:56:24.599> 100 00:56:25.589 --> 00:56:25.599 align:start position:0% latency but one time out of a 100 00:56:25.599 --> 00:56:28.029 align:start position:0% latency but one time out of a 100 uh<00:56:25.920> they<00:56:26.079> will<00:56:26.319> pay<00:56:26.640> the<00:56:26.880> transaction<00:56:27.440> fee<00:56:27.839> and 00:56:28.029 --> 00:56:28.039 align:start position:0% uh they will pay the transaction fee and 00:56:28.039 --> 00:56:29.349 align:start position:0% uh they will pay the transaction fee and and<00:56:28.240> consequently<00:56:28.799> actually<00:56:29.079> that 00:56:29.349 --> 00:56:29.359 align:start position:0% and consequently actually that 00:56:29.359 --> 00:56:30.630 align:start position:0% and consequently actually that transaction<00:56:29.799> will<00:56:29.920> run<00:56:30.079> at<00:56:30.160> the<00:56:30.240> full<00:56:30.440> level 00:56:30.630 --> 00:56:30.640 align:start position:0% transaction will run at the full level 00:56:30.640 --> 00:56:33.309 align:start position:0% transaction will run at the full level of<00:56:31.000> validation<00:56:32.000> um<00:56:32.280> but<00:56:32.559> you<00:56:32.680> know<00:56:33.079> that's<00:56:33.200> a 00:56:33.309 --> 00:56:33.319 align:start position:0% of validation um but you know that's a 00:56:33.319 --> 00:56:36.470 align:start position:0% of validation um but you know that's a kind<00:56:33.400> of<00:56:33.520> simple<00:56:33.839> way<00:56:34.319> of<00:56:34.559> of<00:56:35.119> uh<00:56:35.839> allowing<00:56:36.280> the 00:56:36.470 --> 00:56:36.480 align:start position:0% kind of simple way of of uh allowing the 00:56:36.480 --> 00:56:38.910 align:start position:0% kind of simple way of of uh allowing the application<00:56:37.039> developer<00:56:37.520> to<00:56:38.200> you<00:56:38.280> know<00:56:38.440> for 00:56:38.910 --> 00:56:38.920 align:start position:0% application developer to you know for 00:56:38.920 --> 00:56:42.349 align:start position:0% application developer to you know for example<00:56:39.920> get<00:56:40.119> the<00:56:40.280> reduced<00:56:40.920> latency<00:56:41.640> 99<00:56:42.160> times 00:56:42.349 --> 00:56:42.359 align:start position:0% example get the reduced latency 99 times 00:56:42.359 --> 00:56:43.990 align:start position:0% example get the reduced latency 99 times out<00:56:42.480> of 00:56:43.990 --> 00:56:44.000 align:start position:0% out of 00:56:44.000 --> 00:56:46.230 align:start position:0% out of 100<00:56:45.000> it's<00:56:45.160> not<00:56:45.440> perfect<00:56:45.760> but<00:56:45.839> it<00:56:45.920> seems<00:56:46.119> to 00:56:46.230 --> 00:56:46.240 align:start position:0% 100 it's not perfect but it seems to 00:56:46.240 --> 00:56:50.990 align:start position:0% 100 it's not perfect but it seems to work<00:56:47.000> so<00:56:47.760> just<00:56:48.200> kind<00:56:48.319> of<00:56:48.760> quickly<00:56:49.760> um<00:56:50.760> I<00:56:50.839> think 00:56:50.990 --> 00:56:51.000 align:start position:0% work so just kind of quickly um I think 00:56:51.000 --> 00:56:53.029 align:start position:0% work so just kind of quickly um I think that<00:56:51.119> we<00:56:51.240> can<00:56:51.880> isolate<00:56:52.280> shards<00:56:52.720> from<00:56:52.880> each 00:56:53.029 --> 00:56:53.039 align:start position:0% that we can isolate shards from each 00:56:53.039 --> 00:56:57.390 align:start position:0% that we can isolate shards from each other<00:56:53.640> uh<00:56:54.280> and<00:56:54.599> and<00:56:55.160> and<00:56:55.480> have<00:56:55.720> low<00:56:56.400> security 00:56:57.390 --> 00:56:57.400 align:start position:0% other uh and and and have low security 00:56:57.400 --> 00:57:00.109 align:start position:0% other uh and and and have low security uh<00:56:57.960> transitions<00:56:58.960> basically<00:56:59.799> you<00:56:59.880> can<00:57:00.000> think 00:57:00.109 --> 00:57:00.119 align:start position:0% uh transitions basically you can think 00:57:00.119 --> 00:57:01.950 align:start position:0% uh transitions basically you can think of<00:57:00.200> it<00:57:00.359> as<00:57:00.480> kind<00:57:00.599> of<00:57:00.680> like<00:57:00.760> a<00:57:00.839> two-way<00:57:01.240> Peg 00:57:01.950 --> 00:57:01.960 align:start position:0% of it as kind of like a two-way Peg 00:57:01.960 --> 00:57:03.990 align:start position:0% of it as kind of like a two-way Peg where<00:57:02.280> there's<00:57:02.480> only<00:57:03.079> so<00:57:03.280> many<00:57:03.520> tokens<00:57:03.880> that 00:57:03.990 --> 00:57:04.000 align:start position:0% where there's only so many tokens that 00:57:04.000 --> 00:57:06.430 align:start position:0% where there's only so many tokens that are<00:57:04.119> in<00:57:04.319> that<00:57:04.480> Shard<00:57:05.280> and<00:57:05.480> like<00:57:05.720> the<00:57:06.160> the<00:57:06.240> other 00:57:06.430 --> 00:57:06.440 align:start position:0% are in that Shard and like the the other 00:57:06.440 --> 00:57:08.430 align:start position:0% are in that Shard and like the the other shards<00:57:06.839> know<00:57:07.160> how<00:57:07.599> how<00:57:07.839> how<00:57:07.920> many<00:57:08.039> tokens<00:57:08.319> are 00:57:08.430 --> 00:57:08.440 align:start position:0% shards know how how how many tokens are 00:57:08.440 --> 00:57:10.029 align:start position:0% shards know how how how many tokens are in<00:57:08.559> there<00:57:08.720> and<00:57:08.839> if<00:57:09.000> something<00:57:09.240> goes<00:57:09.440> wrong 00:57:10.029 --> 00:57:10.039 align:start position:0% in there and if something goes wrong 00:57:10.039 --> 00:57:11.789 align:start position:0% in there and if something goes wrong then<00:57:10.200> the<00:57:10.359> loss<00:57:10.640> is<00:57:10.839> bounded<00:57:11.440> and<00:57:11.559> we<00:57:11.640> don't 00:57:11.789 --> 00:57:11.799 align:start position:0% then the loss is bounded and we don't 00:57:11.799 --> 00:57:13.630 align:start position:0% then the loss is bounded and we don't need<00:57:11.920> to<00:57:12.079> escalate<00:57:12.559> to<00:57:12.720> deal<00:57:12.920> with<00:57:13.039> it<00:57:13.400> we<00:57:13.520> can 00:57:13.630 --> 00:57:13.640 align:start position:0% need to escalate to deal with it we can 00:57:13.640 --> 00:57:16.069 align:start position:0% need to escalate to deal with it we can just<00:57:13.799> accept<00:57:14.079> invalid<00:57:14.520> transitions<00:57:15.079> there<00:57:15.680> by 00:57:16.069 --> 00:57:16.079 align:start position:0% just accept invalid transitions there by 00:57:16.079 --> 00:57:18.190 align:start position:0% just accept invalid transitions there by kind<00:57:16.200> of<00:57:16.839> isolating<00:57:17.359> the<00:57:17.520> rest<00:57:17.640> of<00:57:17.760> the<00:57:17.920> system 00:57:18.190 --> 00:57:18.200 align:start position:0% kind of isolating the rest of the system 00:57:18.200 --> 00:57:20.069 align:start position:0% kind of isolating the rest of the system from<00:57:18.359> the<00:57:18.480> failure<00:57:18.920> of<00:57:19.039> that<00:57:19.160> Shard<00:57:19.920> but 00:57:20.069 --> 00:57:20.079 align:start position:0% from the failure of that Shard but 00:57:20.079 --> 00:57:23.789 align:start position:0% from the failure of that Shard but anyways<00:57:20.480> our<00:57:20.720> our<00:57:20.839> time<00:57:21.039> is 00:57:23.789 --> 00:57:23.799 align:start position:0% 00:57:23.799 --> 00:57:26.799 align:start position:0% up