WEBVTT Kind: captions Language: en 00:00:04.720 --> 00:00:05.999 align:start position:0% I<00:00:04.750> wanted<00:00:05.319> to<00:00:05.410> talk<00:00:05.529> a<00:00:05.560> little<00:00:05.710> bit<00:00:05.890> today 00:00:05.999 --> 00:00:06.009 align:start position:0% I wanted to talk a little bit today 00:00:06.009 --> 00:00:08.220 align:start position:0% I wanted to talk a little bit today about<00:00:06.129> what<00:00:06.759> it's<00:00:07.210> like<00:00:07.269> as<00:00:07.540> a<00:00:07.569> DAP<00:00:07.779> developer 00:00:08.220 --> 00:00:08.230 align:start position:0% about what it's like as a DAP developer 00:00:08.230 --> 00:00:10.259 align:start position:0% about what it's like as a DAP developer to<00:00:08.349> think<00:00:08.500> about<00:00:08.709> Charlotte<00:00:09.639> block<00:00:09.790> chains<00:00:10.059> in 00:00:10.259 --> 00:00:10.269 align:start position:0% to think about Charlotte block chains in 00:00:10.269 --> 00:00:11.610 align:start position:0% to think about Charlotte block chains in particular<00:00:10.480> asynchronous<00:00:11.379> communication 00:00:11.610 --> 00:00:11.620 align:start position:0% particular asynchronous communication 00:00:11.620 --> 00:00:15.869 align:start position:0% particular asynchronous communication between<00:00:12.160> smart<00:00:12.610> contracts<00:00:13.620> so<00:00:14.620> you<00:00:15.339> know<00:00:15.460> from 00:00:15.869 --> 00:00:15.879 align:start position:0% between smart contracts so you know from 00:00:15.879 --> 00:00:17.429 align:start position:0% between smart contracts so you know from the<00:00:15.969> introduction<00:00:16.390> you<00:00:16.419> know<00:00:16.599> that<00:00:16.840> I'm<00:00:17.259> one 00:00:17.429 --> 00:00:17.439 align:start position:0% the introduction you know that I'm one 00:00:17.439 --> 00:00:18.810 align:start position:0% the introduction you know that I'm one of<00:00:17.529> the<00:00:17.619> co-creators<00:00:18.009> of<00:00:18.189> cryptic<00:00:18.520> ad<00:00:18.700> so<00:00:18.790> I 00:00:18.810 --> 00:00:18.820 align:start position:0% of the co-creators of cryptic ad so I 00:00:18.820 --> 00:00:21.000 align:start position:0% of the co-creators of cryptic ad so I was<00:00:18.939> also<00:00:19.119> the<00:00:19.240> original<00:00:19.300> author<00:00:19.720> of<00:00:19.960> ER<00:00:20.140> C<00:00:20.320> 721 00:00:21.000 --> 00:00:21.010 align:start position:0% was also the original author of ER C 721 00:00:21.010 --> 00:00:23.099 align:start position:0% was also the original author of ER C 721 I<00:00:21.580> contributed<00:00:22.420> quite<00:00:22.600> a<00:00:22.720> bit<00:00:22.900> on<00:00:23.019> the 00:00:23.099 --> 00:00:23.109 align:start position:0% I contributed quite a bit on the 00:00:23.109 --> 00:00:25.529 align:start position:0% I contributed quite a bit on the upcoming<00:00:23.260> Chi's<00:00:23.769> Wizards<00:00:24.070> game<00:00:24.279> and<00:00:25.150> will 00:00:25.529 --> 00:00:25.539 align:start position:0% upcoming Chi's Wizards game and will 00:00:25.539 --> 00:00:26.429 align:start position:0% upcoming Chi's Wizards game and will actually<00:00:25.720> have<00:00:25.960> a<00:00:26.019> little<00:00:26.050> bit<00:00:26.289> more 00:00:26.429 --> 00:00:26.439 align:start position:0% actually have a little bit more 00:00:26.439 --> 00:00:27.689 align:start position:0% actually have a little bit more information<00:00:26.949> about<00:00:27.039> that<00:00:27.130> in<00:00:27.279> the<00:00:27.460> middle<00:00:27.670> of 00:00:27.689 --> 00:00:27.699 align:start position:0% information about that in the middle of 00:00:27.699 --> 00:00:29.970 align:start position:0% information about that in the middle of this<00:00:27.910> presentation<00:00:28.470> and<00:00:29.470> then<00:00:29.590> I'm<00:00:29.710> the<00:00:29.800> chief 00:00:29.970 --> 00:00:29.980 align:start position:0% this presentation and then I'm the chief 00:00:29.980 --> 00:00:31.980 align:start position:0% this presentation and then I'm the chief architect<00:00:30.400> of<00:00:30.490> the<00:00:30.609> upcoming<00:00:30.990> flow 00:00:31.980 --> 00:00:31.990 align:start position:0% architect of the upcoming flow 00:00:31.990 --> 00:00:35.460 align:start position:0% architect of the upcoming flow blockchain<00:00:33.660> in<00:00:34.660> computer<00:00:34.989> science<00:00:35.260> we<00:00:35.320> like 00:00:35.460 --> 00:00:35.470 align:start position:0% blockchain in computer science we like 00:00:35.470 --> 00:00:38.310 align:start position:0% blockchain in computer science we like to<00:00:35.589> have<00:00:35.710> these<00:00:35.920> toy<00:00:36.820> versions<00:00:37.360> of<00:00:37.629> abstract 00:00:38.310 --> 00:00:38.320 align:start position:0% to have these toy versions of abstract 00:00:38.320 --> 00:00:39.660 align:start position:0% to have these toy versions of abstract problems<00:00:38.739> because<00:00:39.010> it<00:00:39.100> makes<00:00:39.250> it<00:00:39.340> easier<00:00:39.610> for 00:00:39.660 --> 00:00:39.670 align:start position:0% problems because it makes it easier for 00:00:39.670 --> 00:00:41.549 align:start position:0% problems because it makes it easier for us<00:00:39.879> to<00:00:39.910> think<00:00:40.059> through<00:00:40.420> them<00:00:40.570> I'm<00:00:41.500> sure 00:00:41.549 --> 00:00:41.559 align:start position:0% us to think through them I'm sure 00:00:41.559 --> 00:00:43.260 align:start position:0% us to think through them I'm sure everyone<00:00:42.219> in<00:00:42.309> this<00:00:42.370> room<00:00:42.610> is<00:00:42.910> familiar<00:00:43.000> with 00:00:43.260 --> 00:00:43.270 align:start position:0% everyone in this room is familiar with 00:00:43.270 --> 00:00:45.900 align:start position:0% everyone in this room is familiar with the<00:00:43.600> Byzantine<00:00:44.200> generals<00:00:44.230> problem<00:00:45.010> it's 00:00:45.900 --> 00:00:45.910 align:start position:0% the Byzantine generals problem it's 00:00:45.910 --> 00:00:48.119 align:start position:0% the Byzantine generals problem it's probably<00:00:45.940> the<00:00:46.270> most<00:00:46.390> famous<00:00:46.539> one<00:00:46.930> is<00:00:47.320> the 00:00:48.119 --> 00:00:48.129 align:start position:0% probably the most famous one is the 00:00:48.129 --> 00:00:50.939 align:start position:0% probably the most famous one is the Traveling<00:00:48.640> Salesman<00:00:48.789> problem<00:00:49.260> as<00:00:50.260> a<00:00:50.590> way<00:00:50.800> of 00:00:50.939 --> 00:00:50.949 align:start position:0% Traveling Salesman problem as a way of 00:00:50.949 --> 00:00:52.380 align:start position:0% Traveling Salesman problem as a way of thinking<00:00:51.070> about<00:00:51.280> how<00:00:51.610> to<00:00:51.670> build<00:00:51.820> a<00:00:52.000> spanning 00:00:52.380 --> 00:00:52.390 align:start position:0% thinking about how to build a spanning 00:00:52.390 --> 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asks<00:01:00.969> you<00:01:01.090> to<00:01:01.239> imagine<00:01:01.510> that<00:01:01.719> a 00:01:01.889 --> 00:01:01.899 align:start position:0% problem that asks you to imagine that a 00:01:01.899 --> 00:01:03.299 align:start position:0% problem that asks you to imagine that a group<00:01:02.109> of<00:01:02.230> philosophers<00:01:02.739> is<00:01:02.890> eating<00:01:03.129> dinner 00:01:03.299 --> 00:01:03.309 align:start position:0% group of philosophers is eating dinner 00:01:03.309 --> 00:01:05.279 align:start position:0% group of philosophers is eating dinner together<00:01:03.489> and<00:01:03.879> not<00:01:04.239> only<00:01:04.300> can<00:01:04.690> they<00:01:04.809> not<00:01:04.839> eat 00:01:05.279 --> 00:01:05.289 align:start position:0% together and not only can they not eat 00:01:05.289 --> 00:01:07.290 align:start position:0% together and not only can they not eat unless<00:01:05.530> they're<00:01:05.890> holding<00:01:06.460> a<00:01:06.490> fork<00:01:07.060> in<00:01:07.180> each 00:01:07.290 --> 00:01:07.300 align:start position:0% unless they're holding a fork in each 00:01:07.300 --> 00:01:09.059 align:start position:0% unless they're holding a fork in each hand<00:01:07.600> but<00:01:08.020> they're<00:01:08.140> actually<00:01:08.470> sharing<00:01:08.920> their 00:01:09.059 --> 00:01:09.069 align:start position:0% hand but they're actually sharing their 00:01:09.069 --> 00:01:10.320 align:start position:0% hand but they're actually sharing their Forks<00:01:09.429> after<00:01:09.610> they've<00:01:09.910> gone<00:01:10.030> into<00:01:10.209> each 00:01:10.320 --> 00:01:10.330 align:start position:0% Forks after they've gone into each 00:01:10.330 --> 00:01:12.779 align:start position:0% Forks after they've gone into each other's<00:01:10.630> mouths<00:01:10.869> it's<00:01:11.319> quite<00:01:11.530> amazing<00:01:11.789> but 00:01:12.779 --> 00:01:12.789 align:start position:0% other's mouths it's quite amazing but 00:01:12.789 --> 00:01:14.630 align:start position:0% other's mouths it's quite amazing but but<00:01:13.060> we<00:01:13.149> have<00:01:13.330> these<00:01:13.450> these<00:01:13.959> problems<00:01:14.380> because 00:01:14.630 --> 00:01:14.640 align:start position:0% but we have these these problems because 00:01:14.640 --> 00:01:17.040 align:start position:0% but we have these these problems because the<00:01:15.640> problems<00:01:15.970> themselves<00:01:16.090> are<00:01:16.450> so<00:01:16.599> abstract 00:01:17.040 --> 00:01:17.050 align:start position:0% the problems themselves are so abstract 00:01:17.050 --> 00:01:18.660 align:start position:0% the problems themselves are so abstract that<00:01:17.170> they're<00:01:17.319> hard<00:01:17.500> for<00:01:17.679> ourselves<00:01:18.069> they're 00:01:18.660 --> 00:01:18.670 align:start position:0% that they're hard for ourselves they're 00:01:18.670 --> 00:01:20.430 align:start position:0% that they're hard for ourselves they're hard<00:01:18.849> for<00:01:19.000> us<00:01:19.060> to<00:01:19.240> reason<00:01:19.569> about<00:01:19.780> and<00:01:19.929> so<00:01:20.410> we 00:01:20.430 --> 00:01:20.440 align:start position:0% hard for us to reason about and so we 00:01:20.440 --> 00:01:22.800 align:start position:0% hard for us to reason about and so we create<00:01:21.399> these<00:01:21.520> these<00:01:21.880> stories<00:01:22.330> these<00:01:22.569> toy 00:01:22.800 --> 00:01:22.810 align:start position:0% create these these stories these toy 00:01:22.810 --> 00:01:25.469 align:start position:0% create these these stories these toy stories<00:01:23.490> that<00:01:24.490> are<00:01:24.789> maybe<00:01:25.119> a<00:01:25.209> little<00:01:25.270> bit 00:01:25.469 --> 00:01:25.479 align:start position:0% stories that are maybe a little bit 00:01:25.479 --> 00:01:27.270 align:start position:0% stories that are maybe a little bit disconnected<00:01:25.959> from<00:01:26.200> reality<00:01:26.289> but<00:01:26.830> they<00:01:27.099> let 00:01:27.270 --> 00:01:27.280 align:start position:0% disconnected from reality but they let 00:01:27.280 --> 00:01:29.279 align:start position:0% disconnected from reality but they let us<00:01:27.429> use<00:01:27.459> our<00:01:27.789> human<00:01:28.300> intuition<00:01:28.869> about<00:01:28.990> how<00:01:29.110> to 00:01:29.279 --> 00:01:29.289 align:start position:0% us use our human intuition about how to 00:01:29.289 --> 00:01:31.710 align:start position:0% us use our human intuition about how to solve<00:01:29.560> them<00:01:29.800> and<00:01:30.130> there's<00:01:31.090> a<00:01:31.149> common<00:01:31.330> one<00:01:31.539> that 00:01:31.710 --> 00:01:31.720 align:start position:0% solve them and there's a common one that 00:01:31.720 --> 00:01:33.570 align:start position:0% solve them and there's a common one that comes<00:01:32.170> up<00:01:32.289> in<00:01:32.470> the<00:01:32.590> Assyrian<00:01:32.830> community<00:01:33.399> or<00:01:33.489> at 00:01:33.570 --> 00:01:33.580 align:start position:0% comes up in the Assyrian community or at 00:01:33.580 --> 00:01:34.830 align:start position:0% comes up in the Assyrian community or at least<00:01:33.700> that's<00:01:33.849> where<00:01:33.970> I<00:01:34.000> saw<00:01:34.239> it<00:01:34.360> first<00:01:34.539> it's 00:01:34.830 --> 00:01:34.840 align:start position:0% least that's where I saw it first it's 00:01:34.840 --> 00:01:36.600 align:start position:0% least that's where I saw it first it's called<00:01:34.989> the<00:01:35.110> Train<00:01:35.349> and<00:01:35.470> hotel<00:01:35.800> problem<00:01:36.220> and 00:01:36.600 --> 00:01:36.610 align:start position:0% called the Train and hotel problem and 00:01:36.610 --> 00:01:39.719 align:start position:0% called the Train and hotel problem and it's<00:01:37.539> if<00:01:38.229> you<00:01:38.619> search<00:01:38.830> on<00:01:38.979> e3<00:01:39.190> Searchers 00:01:39.719 --> 00:01:39.729 align:start position:0% it's if you search on e3 Searchers 00:01:39.729 --> 00:01:41.400 align:start position:0% it's if you search on e3 Searchers there's<00:01:40.090> a<00:01:40.149> bunch<00:01:40.420> of<00:01:40.479> great<00:01:40.660> articles<00:01:41.140> about 00:01:41.400 --> 00:01:41.410 align:start position:0% there's a bunch of great articles about 00:01:41.410 --> 00:01:43.440 align:start position:0% there's a bunch of great articles about people<00:01:42.009> having<00:01:42.130> ideas<00:01:42.640> on<00:01:42.849> how<00:01:43.000> to<00:01:43.060> solve<00:01:43.300> the 00:01:43.440 --> 00:01:43.450 align:start position:0% people having ideas on how to solve the 00:01:43.450 --> 00:01:45.930 align:start position:0% people having ideas on how to solve the trainer<00:01:43.660> Hotel<00:01:44.020> problem<00:01:44.440> and<00:01:45.429> it's 00:01:45.930 --> 00:01:45.940 align:start position:0% trainer Hotel problem and it's 00:01:45.940 --> 00:01:47.609 align:start position:0% trainer Hotel problem and it's fundamentally<00:01:46.660> how<00:01:46.840> to<00:01:46.899> solve<00:01:47.170> the<00:01:47.319> problem 00:01:47.609 --> 00:01:47.619 align:start position:0% fundamentally how to solve the problem 00:01:47.619 --> 00:01:49.529 align:start position:0% fundamentally how to solve the problem of<00:01:47.739> asynchronous<00:01:48.130> communications<00:01:49.060> between 00:01:49.529 --> 00:01:49.539 align:start position:0% of asynchronous communications between 00:01:49.539 --> 00:01:51.089 align:start position:0% of asynchronous communications between smart<00:01:49.959> contracts<00:01:50.500> that<00:01:50.679> live<00:01:50.830> on<00:01:50.950> different 00:01:51.089 --> 00:01:51.099 align:start position:0% smart contracts that live on different 00:01:51.099 --> 00:01:53.430 align:start position:0% smart contracts that live on different shards<00:01:51.550> and<00:01:51.910> so<00:01:52.569> the<00:01:52.810> toy<00:01:52.959> version<00:01:53.020> of<00:01:53.380> the 00:01:53.430 --> 00:01:53.440 align:start position:0% shards and so the toy version of the 00:01:53.440 --> 00:01:54.960 align:start position:0% shards and so the toy version of the problem<00:01:53.770> says<00:01:53.979> hey<00:01:54.220> you're<00:01:54.459> travelling<00:01:54.819> to<00:01:54.940> a 00:01:54.960 --> 00:01:54.970 align:start position:0% problem says hey you're travelling to a 00:01:54.970 --> 00:01:57.510 align:start position:0% problem says hey you're travelling to a city<00:01:55.239> and<00:01:56.020> you<00:01:56.619> need<00:01:56.800> a<00:01:56.830> train<00:01:57.099> ticket<00:01:57.280> in 00:01:57.510 --> 00:01:57.520 align:start position:0% city and you need a train ticket in 00:01:57.520 --> 00:01:59.550 align:start position:0% city and you need a train ticket in order<00:01:57.729> to<00:01:57.819> get<00:01:57.970> there<00:01:58.179> and<00:01:58.989> you<00:01:59.170> need<00:01:59.319> a<00:01:59.349> hotel 00:01:59.550 --> 00:01:59.560 align:start position:0% order to get there and you need a hotel 00:01:59.560 --> 00:02:02.910 align:start position:0% order to get there and you need a hotel a<00:02:00.069> room<00:02:00.670> when<00:02:00.819> you<00:02:00.910> get<00:02:01.060> there<00:02:01.300> and<00:02:01.770> you<00:02:02.770> don't 00:02:02.910 --> 00:02:02.920 align:start position:0% a room when you get there and you don't 00:02:02.920 --> 00:02:04.650 align:start position:0% a room when you get there and you don't want<00:02:03.039> to<00:02:03.099> pay<00:02:03.459> for<00:02:03.700> a<00:02:03.729> train<00:02:03.970> ticket<00:02:04.119> until<00:02:04.420> you 00:02:04.650 --> 00:02:04.660 align:start position:0% want to pay for a train ticket until you 00:02:04.660 --> 00:02:06.150 align:start position:0% want to pay for a train ticket until you know<00:02:04.810> that<00:02:04.989> you've<00:02:05.229> got<00:02:05.410> a<00:02:05.440> hotel<00:02:05.619> room<00:02:05.830> and 00:02:06.150 --> 00:02:06.160 align:start position:0% know that you've got a hotel room and 00:02:06.160 --> 00:02:07.350 align:start position:0% know that you've got a hotel room and but<00:02:06.369> you<00:02:06.429> don't<00:02:06.580> want<00:02:06.700> to<00:02:06.759> book<00:02:06.849> a<00:02:06.879> hotel<00:02:06.970> room 00:02:07.350 --> 00:02:07.360 align:start position:0% but you don't want to book a hotel room 00:02:07.360 --> 00:02:08.729 align:start position:0% but you don't want to book a hotel room unless<00:02:07.690> you're<00:02:07.869> gonna<00:02:08.110> be<00:02:08.200> able<00:02:08.530> to<00:02:08.590> get<00:02:08.709> a 00:02:08.729 --> 00:02:08.739 align:start position:0% unless you're gonna be able to get a 00:02:08.739 --> 00:02:11.190 align:start position:0% unless you're gonna be able to get a train<00:02:09.009> ticket<00:02:09.190> and<00:02:09.610> so<00:02:10.030> if<00:02:10.239> the<00:02:10.420> train<00:02:10.660> was<00:02:10.899> on 00:02:11.190 --> 00:02:11.200 align:start position:0% train ticket and so if the train was on 00:02:11.200 --> 00:02:14.210 align:start position:0% train ticket and so if the train was on a<00:02:11.230> smart<00:02:11.620> contract<00:02:12.010> on<00:02:12.129> one<00:02:12.310> shard<00:02:12.580> and 00:02:14.210 --> 00:02:14.220 align:start position:0% a smart contract on one shard and 00:02:14.220 --> 00:02:15.830 align:start position:0% a smart contract on one shard and the<00:02:14.430> hotel<00:02:14.820> was<00:02:15.000> a<00:02:15.030> smart<00:02:15.330> contract<00:02:15.510> in 00:02:15.830 --> 00:02:15.840 align:start position:0% the hotel was a smart contract in 00:02:15.840 --> 00:02:18.320 align:start position:0% the hotel was a smart contract in another<00:02:16.080> shard<00:02:16.880> how<00:02:17.880> do<00:02:17.940> you<00:02:18.090> go<00:02:18.240> about 00:02:18.320 --> 00:02:18.330 align:start position:0% another shard how do you go about 00:02:18.330 --> 00:02:20.390 align:start position:0% another shard how do you go about solving<00:02:18.870> the<00:02:19.080> problem<00:02:19.110> of<00:02:19.620> booking<00:02:20.040> both<00:02:20.220> of 00:02:20.390 --> 00:02:20.400 align:start position:0% solving the problem of booking both of 00:02:20.400 --> 00:02:23.900 align:start position:0% solving the problem of booking both of those<00:02:20.550> things<00:02:20.990> without<00:02:22.730> potentially<00:02:23.730> being 00:02:23.900 --> 00:02:23.910 align:start position:0% those things without potentially being 00:02:23.910 --> 00:02:25.310 align:start position:0% those things without potentially being in<00:02:24.030> a<00:02:24.090> situation<00:02:24.600> where<00:02:24.750> you've<00:02:24.900> you've<00:02:25.290> got 00:02:25.310 --> 00:02:25.320 align:start position:0% in a situation where you've you've got 00:02:25.320 --> 00:02:27.380 align:start position:0% in a situation where you've you've got one<00:02:25.770> without<00:02:26.040> the<00:02:26.340> other 00:02:27.380 --> 00:02:27.390 align:start position:0% one without the other 00:02:27.390 --> 00:02:29.840 align:start position:0% one without the other and<00:02:27.780> you<00:02:28.770> know<00:02:28.860> there's<00:02:29.040> there's<00:02:29.340> a<00:02:29.430> few 00:02:29.840 --> 00:02:29.850 align:start position:0% and you know there's there's a few 00:02:29.850 --> 00:02:31.310 align:start position:0% and you know there's there's a few interesting<00:02:30.000> solutions<00:02:30.690> to<00:02:30.840> this<00:02:30.960> problem 00:02:31.310 --> 00:02:31.320 align:start position:0% interesting solutions to this problem 00:02:31.320 --> 00:02:34.190 align:start position:0% interesting solutions to this problem some<00:02:31.470> of<00:02:31.590> the<00:02:32.330> more<00:02:33.330> interesting<00:02:33.810> are<00:02:33.960> you 00:02:34.190 --> 00:02:34.200 align:start position:0% some of the more interesting are you 00:02:34.200 --> 00:02:35.750 align:start position:0% some of the more interesting are you know<00:02:34.320> the<00:02:34.470> ability<00:02:34.620> to<00:02:34.800> actually<00:02:35.130> move<00:02:35.310> smart 00:02:35.750 --> 00:02:35.760 align:start position:0% know the ability to actually move smart 00:02:35.760 --> 00:02:37.160 align:start position:0% know the ability to actually move smart contracts<00:02:36.210> from<00:02:36.420> one<00:02:36.540> shard<00:02:36.810> to<00:02:36.960> another 00:02:37.160 --> 00:02:37.170 align:start position:0% contracts from one shard to another 00:02:37.170 --> 00:02:40.220 align:start position:0% contracts from one shard to another which<00:02:38.010> you<00:02:38.400> know<00:02:38.490> has<00:02:38.640> the<00:02:39.240> potential<00:02:39.930> problem 00:02:40.220 --> 00:02:40.230 align:start position:0% which you know has the potential problem 00:02:40.230 --> 00:02:42.130 align:start position:0% which you know has the potential problem of<00:02:40.350> leading<00:02:40.590> to<00:02:40.680> denial<00:02:40.950> of<00:02:41.070> service<00:02:41.370> attacks 00:02:42.130 --> 00:02:42.140 align:start position:0% of leading to denial of service attacks 00:02:42.140 --> 00:02:45.650 align:start position:0% of leading to denial of service attacks the<00:02:43.140> idea<00:02:43.620> of<00:02:43.830> of<00:02:44.040> mining<00:02:44.850> two<00:02:45.060> shards<00:02:45.540> are 00:02:45.650 --> 00:02:45.660 align:start position:0% the idea of of mining two shards are 00:02:45.660 --> 00:02:47.600 align:start position:0% the idea of of mining two shards are synchronizing<00:02:46.170> to<00:02:46.470> shards<00:02:46.860> so<00:02:47.400> that<00:02:47.520> the 00:02:47.600 --> 00:02:47.610 align:start position:0% synchronizing to shards so that the 00:02:47.610 --> 00:02:50.240 align:start position:0% synchronizing to shards so that the validators<00:02:48.090> are<00:02:48.420> are<00:02:49.230> trying<00:02:49.710> to<00:02:49.800> solve<00:02:50.070> the 00:02:50.240 --> 00:02:50.250 align:start position:0% validators are are trying to solve the 00:02:50.250 --> 00:02:52.160 align:start position:0% validators are are trying to solve the two<00:02:50.580> blocks<00:02:50.850> on<00:02:51.060> to<00:02:51.210> shards<00:02:51.450> at<00:02:51.630> the<00:02:51.720> same<00:02:51.900> time 00:02:52.160 --> 00:02:52.170 align:start position:0% two blocks on to shards at the same time 00:02:52.170 --> 00:02:53.540 align:start position:0% two blocks on to shards at the same time to<00:02:52.770> allow<00:02:52.920> synchronous<00:02:53.400> communication 00:02:53.540 --> 00:02:53.550 align:start position:0% to allow synchronous communication 00:02:53.550 --> 00:02:55.640 align:start position:0% to allow synchronous communication between<00:02:54.150> the<00:02:54.480> smart<00:02:54.750> contracts<00:02:55.140> on<00:02:55.320> those<00:02:55.470> two 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other and so usually 00:03:02.970 --> 00:03:04.940 align:start position:0% talking to each other and so usually most<00:03:03.270> people<00:03:03.600> think<00:03:03.810> that<00:03:04.020> the<00:03:04.470> best<00:03:04.740> way<00:03:04.920> to 00:03:04.940 --> 00:03:04.950 align:start position:0% most people think that the best way to 00:03:04.950 --> 00:03:06.410 align:start position:0% most people think that the best way to solve<00:03:05.220> this<00:03:05.370> is<00:03:05.550> just<00:03:05.760> to<00:03:05.850> have<00:03:05.970> some<00:03:06.180> sort<00:03:06.360> of 00:03:06.410 --> 00:03:06.420 align:start position:0% solve this is just to have some sort of 00:03:06.420 --> 00:03:08.300 align:start position:0% solve this is just to have some sort of state<00:03:06.750> locking<00:03:07.140> mechanism<00:03:07.650> where<00:03:08.070> you<00:03:08.100> can 00:03:08.300 --> 00:03:08.310 align:start position:0% state locking mechanism where you can 00:03:08.310 --> 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reservation<00:03:23.030> so<00:03:24.030> that<00:03:24.570> toilet<00:03:24.840> problem 00:03:25.190 --> 00:03:25.200 align:start position:0% train reservation so that toilet problem 00:03:25.200 --> 00:03:27.020 align:start position:0% train reservation so that toilet problem I<00:03:25.320> think<00:03:25.380> is<00:03:25.620> useful<00:03:26.070> but<00:03:26.400> but<00:03:26.670> I<00:03:26.700> think<00:03:26.910> it's 00:03:27.020 --> 00:03:27.030 align:start position:0% I think is useful but but I think it's 00:03:27.030 --> 00:03:29.540 align:start position:0% I think is useful but but I think it's limited<00:03:27.690> because<00:03:27.959> it's<00:03:28.110> so<00:03:28.260> simple<00:03:28.530> and<00:03:28.860> so<00:03:29.430> I 00:03:29.540 --> 00:03:29.550 align:start position:0% limited because it's so simple and so I 00:03:29.550 --> 00:03:31.070 align:start position:0% limited because it's so simple and so I want<00:03:29.730> to<00:03:29.790> talk<00:03:29.910> about<00:03:30.000> something<00:03:30.270> that<00:03:30.420> maybe 00:03:31.070 --> 00:03:31.080 align:start position:0% want to talk about something that maybe 00:03:31.080 --> 00:03:33.530 align:start position:0% want to talk about something that maybe seems<00:03:31.440> even<00:03:31.709> more<00:03:31.860> simple<00:03:32.220> but<00:03:32.940> he's<00:03:33.090> actually 00:03:33.530 --> 00:03:33.540 align:start position:0% seems even more simple but he's actually 00:03:33.540 --> 00:03:35.090 align:start position:0% seems even more simple but he's actually a<00:03:33.690> little<00:03:33.780> bit<00:03:33.990> more<00:03:34.110> basis<00:03:34.470> in<00:03:34.620> reality<00:03:34.650> and 00:03:35.090 --> 00:03:35.100 align:start position:0% a little bit more basis in reality and 00:03:35.100 --> 00:03:37.340 align:start position:0% a little bit more basis in reality and that's<00:03:35.160> Kitty<00:03:35.610> hats<00:03:35.790> so<00:03:36.660> Kitty<00:03:36.930> hats<00:03:37.080> is<00:03:37.230> a 00:03:37.340 --> 00:03:37.350 align:start position:0% that's Kitty hats so Kitty hats is a 00:03:37.350 --> 00:03:39.500 align:start position:0% that's Kitty hats so Kitty hats is a project<00:03:37.530> that<00:03:37.980> was<00:03:38.430> created<00:03:38.670> outside<00:03:39.030> of 00:03:39.500 --> 00:03:39.510 align:start position:0% project that was created outside of 00:03:39.510 --> 00:03:42.020 align:start position:0% project that was created outside of dapper<00:03:39.870> -<00:03:40.200> as<00:03:40.530> an<00:03:40.770> extension<00:03:41.070> to<00:03:41.250> Krypto 00:03:42.020 --> 00:03:42.030 align:start position:0% dapper - as an extension to Krypto 00:03:42.030 --> 00:03:44.030 align:start position:0% dapper - as an extension to Krypto kitties<00:03:42.300> and<00:03:42.540> it<00:03:42.840> let<00:03:42.989> you<00:03:43.080> put<00:03:43.320> cool<00:03:43.590> hats<00:03:43.800> and 00:03:44.030 --> 00:03:44.040 align:start position:0% kitties and it let you put cool hats and 00:03:44.040 --> 00:03:45.770 align:start position:0% kitties and it let you put cool hats and other<00:03:44.190> paraphernalia<00:03:44.580> on<00:03:44.910> your<00:03:45.120> on<00:03:45.270> your<00:03:45.330> cats 00:03:45.770 --> 00:03:45.780 align:start position:0% other paraphernalia on your on your cats 00:03:45.780 --> 00:03:48.220 align:start position:0% other paraphernalia on your on your cats and<00:03:46.709> it<00:03:46.800> was<00:03:46.890> a<00:03:46.920> set<00:03:47.130> of<00:03:47.220> smart<00:03:47.430> contracts<00:03:47.820> that 00:03:48.220 --> 00:03:48.230 align:start position:0% and it was a set of smart contracts that 00:03:48.230 --> 00:03:50.840 align:start position:0% and it was a set of smart contracts that leveraged<00:03:49.230> our<00:03:49.530> smart<00:03:49.890> contracts<00:03:50.280> but<00:03:50.489> we 00:03:50.840 --> 00:03:50.850 align:start position:0% leveraged our smart contracts but we 00:03:50.850 --> 00:03:52.280 align:start position:0% leveraged our smart contracts but we didn't<00:03:51.060> even<00:03:51.090> know<00:03:51.360> they<00:03:51.540> were<00:03:51.600> doing<00:03:51.900> it<00:03:52.080> let 00:03:52.280 --> 00:03:52.290 align:start position:0% didn't even know they were doing it let 00:03:52.290 --> 00:03:55.250 align:start position:0% didn't even know they were doing it let alone<00:03:52.470> have<00:03:53.310> any<00:03:53.489> any<00:03:54.420> special<00:03:54.870> hooks<00:03:55.050> for 00:03:55.250 --> 00:03:55.260 align:start position:0% alone have any any special hooks for 00:03:55.260 --> 00:03:57.590 align:start position:0% alone have any any special hooks for them<00:03:55.380> to<00:03:55.560> be<00:03:55.980> able<00:03:56.070> to<00:03:56.220> do<00:03:56.310> this<00:03:56.430> stuff<00:03:56.550> and<00:03:57.480> it 00:03:57.590 --> 00:03:57.600 align:start position:0% them to be able to do this stuff and it 00:03:57.600 --> 00:04:01.030 align:start position:0% them to be able to do this stuff and it really<00:03:58.020> you<00:03:58.530> know<00:03:58.650> showed<00:03:58.860> the<00:03:59.040> team<00:03:59.250> and<00:03:59.610> how 00:04:01.030 --> 00:04:01.040 align:start position:0% really you know showed the team and how 00:04:01.040 --> 00:04:03.199 align:start position:0% really you know showed the team and how one<00:04:02.040> of<00:04:02.130> the<00:04:02.220> properties<00:04:02.640> of<00:04:02.790> watching<00:04:03.150> that 00:04:03.199 --> 00:04:03.209 align:start position:0% one of the properties of watching that 00:04:03.209 --> 00:04:05.000 align:start position:0% one of the properties of watching that we<00:04:03.660> weren't<00:04:03.870> really<00:04:04.020> expecting<00:04:04.380> when<00:04:04.920> we 00:04:05.000 --> 00:04:05.010 align:start position:0% we weren't really expecting when we 00:04:05.010 --> 00:04:06.140 align:start position:0% we weren't really expecting when we started<00:04:05.280> building<00:04:05.400> crypto<00:04:05.760> kitties<00:04:06.030> and 00:04:06.140 --> 00:04:06.150 align:start position:0% started building crypto kitties and 00:04:06.150 --> 00:04:07.910 align:start position:0% started building crypto kitties and that's<00:04:06.510> this<00:04:06.600> idea<00:04:06.930> of<00:04:07.020> extensibility<00:04:07.620> or 00:04:07.910 --> 00:04:07.920 align:start position:0% that's this idea of extensibility or 00:04:07.920 --> 00:04:11.660 align:start position:0% that's this idea of extensibility or composability<00:04:09.140> so<00:04:10.140> this<00:04:10.590> is<00:04:10.770> sort<00:04:11.040> of<00:04:11.130> what<00:04:11.340> a 00:04:11.660 --> 00:04:11.670 align:start position:0% composability so this is sort of what a 00:04:11.670 --> 00:04:12.680 align:start position:0% composability so this is sort of what a kitty<00:04:12.239> hats 00:04:12.680 --> 00:04:12.690 align:start position:0% kitty hats 00:04:12.690 --> 00:04:13.940 align:start position:0% kitty hats implementation<00:04:13.350> would<00:04:13.440> look<00:04:13.590> like<00:04:13.709> if<00:04:13.920> you 00:04:13.940 --> 00:04:13.950 align:start position:0% implementation would look like if you 00:04:13.950 --> 00:04:16.280 align:start position:0% implementation would look like if you imagine<00:04:14.160> that<00:04:14.550> Kitty<00:04:15.030> hats<00:04:15.239> used<00:04:15.600> a<00:04:15.780> stable 00:04:16.280 --> 00:04:16.290 align:start position:0% imagine that Kitty hats used a stable 00:04:16.290 --> 00:04:18.830 align:start position:0% imagine that Kitty hats used a stable coin<00:04:16.470> instead<00:04:16.980> of<00:04:17.160> just<00:04:17.340> eath<00:04:17.580> so<00:04:17.850> if<00:04:18.090> a<00:04:18.600> user 00:04:18.830 --> 00:04:18.840 align:start position:0% coin instead of just eath so if a user 00:04:18.840 --> 00:04:20.930 align:start position:0% coin instead of just eath so if a user wants<00:04:19.200> to<00:04:19.230> go<00:04:19.410> and<00:04:19.560> buy<00:04:19.680> a<00:04:19.709> hat<00:04:20.430> to<00:04:20.669> put<00:04:20.850> on 00:04:20.930 --> 00:04:20.940 align:start position:0% wants to go and buy a hat to put on 00:04:20.940 --> 00:04:23.840 align:start position:0% wants to go and buy a hat to put on their<00:04:21.090> cat<00:04:21.299> the<00:04:21.959> they<00:04:22.620> go<00:04:23.039> through<00:04:23.250> this<00:04:23.370> the 00:04:23.840 --> 00:04:23.850 align:start position:0% their cat the they go through this the 00:04:23.850 --> 00:04:25.670 align:start position:0% their cat the they go through this the single<00:04:24.150> transaction<00:04:24.539> where<00:04:24.930> they<00:04:25.110> they<00:04:25.410> send 00:04:25.670 --> 00:04:25.680 align:start position:0% single transaction where they they send 00:04:25.680 --> 00:04:27.510 align:start position:0% single transaction where they they send their<00:04:25.860> requests<00:04:26.760> to 00:04:27.510 --> 00:04:27.520 align:start position:0% their requests to 00:04:27.520 --> 00:04:30.180 align:start position:0% their requests to the<00:04:27.729> kitty<00:04:28.150> hat<00:04:28.330> sales<00:04:28.630> contract<00:04:29.229> and<00:04:29.500> that 00:04:30.180 --> 00:04:30.190 align:start position:0% the kitty hat sales contract and that 00:04:30.190 --> 00:04:32.460 align:start position:0% the kitty hat sales contract and that contract<00:04:30.669> through<00:04:30.850> a<00:04:30.910> series<00:04:31.240> of<00:04:31.470> synchronous 00:04:32.460 --> 00:04:32.470 align:start position:0% contract through a series of synchronous 00:04:32.470 --> 00:04:34.650 align:start position:0% contract through a series of synchronous calls<00:04:32.830> to<00:04:33.069> other<00:04:33.190> smart<00:04:33.520> contracts<00:04:34.000> is<00:04:34.270> able 00:04:34.650 --> 00:04:34.660 align:start position:0% calls to other smart contracts is able 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align:start position:0% to put a hat on it is actually the owner of<00:04:46.150> it<00:04:46.240> because<00:04:46.389> you<00:04:46.509> can't<00:04:46.720> put<00:04:46.900> a<00:04:46.930> hat<00:04:47.110> on 00:04:47.129 --> 00:04:47.139 align:start position:0% of it because you can't put a hat on 00:04:47.139 --> 00:04:49.050 align:start position:0% of it because you can't put a hat on somebody<00:04:47.530> else's<00:04:47.830> head<00:04:48.520> can't<00:04:48.729> put<00:04:48.849> a<00:04:48.880> hat<00:04:49.030> on 00:04:49.050 --> 00:04:49.060 align:start position:0% somebody else's head can't put a hat on 00:04:49.060 --> 00:04:50.670 align:start position:0% somebody else's head can't put a hat on somebody<00:04:49.419> else's<00:04:49.660> kitty<00:04:49.870> that<00:04:50.110> would<00:04:50.229> that 00:04:50.670 --> 00:04:50.680 align:start position:0% somebody else's kitty that would that 00:04:50.680 --> 00:04:52.260 align:start position:0% somebody else's kitty that would that would<00:04:50.800> just<00:04:50.949> be<00:04:51.039> absurd<00:04:51.340> it<00:04:51.819> makes<00:04:52.000> it 00:04:52.260 --> 00:04:52.270 align:start position:0% would just be absurd it makes it 00:04:52.270 --> 00:04:55.290 align:start position:0% would just be absurd it makes it transfers<00:04:52.840> the<00:04:53.050> the<00:04:53.530> stable<00:04:53.860> coin<00:04:54.009> over<00:04:54.300> which 00:04:55.290 --> 00:04:55.300 align:start position:0% transfers the the stable coin over which 00:04:55.300 --> 00:04:57.270 align:start position:0% transfers the the stable coin over which you<00:04:55.690> know<00:04:55.810> will<00:04:55.960> fail<00:04:56.169> if<00:04:56.440> the<00:04:56.860> funds<00:04:57.069> are<00:04:57.250> not 00:04:57.270 --> 00:04:57.280 align:start position:0% you know will fail if the funds are not 00:04:57.280 --> 00:04:59.159 align:start position:0% you know will fail if the funds are not available<00:04:57.849> and<00:04:58.000> then<00:04:58.300> finally<00:04:58.750> it'll<00:04:58.900> put<00:04:59.050> the 00:04:59.159 --> 00:04:59.169 align:start position:0% available and then finally it'll put the 00:04:59.169 --> 00:05:02.790 align:start position:0% available and then finally it'll put the cat<00:04:59.380> the<00:04:59.770> Hat<00:04:59.949> on<00:05:00.190> the<00:05:00.250> cat<00:05:00.840> which<00:05:01.840> also<00:05:02.349> could 00:05:02.790 --> 00:05:02.800 align:start position:0% cat the Hat on the cat which also could 00:05:02.800 --> 00:05:05.070 align:start position:0% cat the Hat on the cat which also could fail<00:05:03.009> potentially<00:05:04.000> if<00:05:04.150> the<00:05:04.419> the<00:05:04.840> kitty 00:05:05.070 --> 00:05:05.080 align:start position:0% fail potentially if the the kitty 00:05:05.080 --> 00:05:07.350 align:start position:0% fail potentially if the the kitty already<00:05:05.349> had<00:05:05.560> a<00:05:05.590> hat<00:05:06.099> and<00:05:07.000> there<00:05:07.240> was<00:05:07.330> a 00:05:07.350 --> 00:05:07.360 align:start position:0% already had a hat and there was a 00:05:07.360 --> 00:05:09.270 align:start position:0% already had a hat and there was a conflict<00:05:07.810> there<00:05:08.139> but<00:05:08.830> the<00:05:08.919> nice<00:05:09.039> thing<00:05:09.070> about 00:05:09.270 --> 00:05:09.280 align:start position:0% conflict there but the nice thing about 00:05:09.280 --> 00:05:11.969 align:start position:0% conflict there but the nice thing about a<00:05:09.550> single<00:05:10.090> atomic<00:05:10.780> transaction<00:05:11.500> is<00:05:11.620> even<00:05:11.860> if 00:05:11.969 --> 00:05:11.979 align:start position:0% a single atomic transaction is even if 00:05:11.979 --> 00:05:14.249 align:start position:0% a single atomic transaction is even if that<00:05:12.130> last<00:05:12.370> part<00:05:12.729> fails<00:05:13.000> everything<00:05:13.840> you<00:05:14.080> just 00:05:14.249 --> 00:05:14.259 align:start position:0% that last part fails everything you just 00:05:14.259 --> 00:05:16.320 align:start position:0% that last part fails everything you just seamlessly<00:05:14.710> gets<00:05:14.949> unwound<00:05:15.370> as<00:05:15.610> that<00:05:15.820> as<00:05:16.000> the 00:05:16.320 --> 00:05:16.330 align:start position:0% seamlessly gets unwound as that as the 00:05:16.330 --> 00:05:19.379 align:start position:0% seamlessly gets unwound as that as the transaction<00:05:16.870> reverse<00:05:17.759> but<00:05:18.759> what<00:05:19.060> if<00:05:19.150> we<00:05:19.240> had 00:05:19.379 --> 00:05:19.389 align:start position:0% transaction reverse but what if we had 00:05:19.389 --> 00:05:21.029 align:start position:0% transaction reverse but what if we had that<00:05:19.509> same<00:05:19.720> scenario<00:05:20.110> where<00:05:20.500> we<00:05:20.620> had<00:05:20.830> these 00:05:21.029 --> 00:05:21.039 align:start position:0% that same scenario where we had these 00:05:21.039 --> 00:05:23.249 align:start position:0% that same scenario where we had these you<00:05:21.699> know<00:05:21.820> four<00:05:22.060> smart<00:05:22.360> contracts<00:05:22.870> working 00:05:23.249 --> 00:05:23.259 align:start position:0% you know four smart contracts working 00:05:23.259 --> 00:05:25.439 align:start position:0% you know four smart contracts working together<00:05:23.729> but<00:05:24.729> each<00:05:24.880> of<00:05:25.030> them<00:05:25.150> was<00:05:25.300> on<00:05:25.419> a 00:05:25.439 --> 00:05:25.449 align:start position:0% together but each of them was on a 00:05:25.449 --> 00:05:28.559 align:start position:0% together but each of them was on a different<00:05:25.630> shard<00:05:26.580> well<00:05:27.580> it<00:05:27.849> suddenly<00:05:28.270> becomes 00:05:28.559 --> 00:05:28.569 align:start position:0% different shard well it suddenly becomes 00:05:28.569 --> 00:05:32.279 align:start position:0% different shard well it suddenly becomes a<00:05:28.690> much<00:05:28.840> more<00:05:28.870> complicated<00:05:29.319> solution<00:05:30.120> so<00:05:31.289> in 00:05:32.279 --> 00:05:32.289 align:start position:0% a much more complicated solution so in 00:05:32.289 --> 00:05:35.129 align:start position:0% a much more complicated solution so in in<00:05:32.650> the<00:05:33.250> this<00:05:33.550> solution<00:05:33.849> that<00:05:34.000> I've<00:05:34.270> shown 00:05:35.129 --> 00:05:35.139 align:start position:0% in the this solution that I've shown 00:05:35.139 --> 00:05:36.719 align:start position:0% in the this solution that I've shown here<00:05:35.409> and<00:05:35.500> it's<00:05:35.620> not<00:05:35.710> necessarily<00:05:36.430> the<00:05:36.550> only 00:05:36.719 --> 00:05:36.729 align:start position:0% here and it's not necessarily the only 00:05:36.729 --> 00:05:38.339 align:start position:0% here and it's not necessarily the only solution<00:05:37.060> but<00:05:37.180> it<00:05:37.270> was<00:05:37.360> frankly<00:05:37.930> the<00:05:38.050> best<00:05:38.229> I 00:05:38.339 --> 00:05:38.349 align:start position:0% solution but it was frankly the best I 00:05:38.349 --> 00:05:40.649 align:start position:0% solution but it was frankly the best I could<00:05:38.409> come<00:05:38.680> up<00:05:38.710> with<00:05:38.830> it<00:05:39.789> involves<00:05:40.270> locking 00:05:40.649 --> 00:05:40.659 align:start position:0% could come up with it involves locking 00:05:40.659 --> 00:05:43.170 align:start position:0% could come up with it involves locking up<00:05:40.780> the<00:05:40.990> assets<00:05:41.979> that<00:05:42.490> were<00:05:42.639> involved<00:05:43.030> in<00:05:43.090> the 00:05:43.170 --> 00:05:43.180 align:start position:0% up the assets that were involved in the 00:05:43.180 --> 00:05:44.939 align:start position:0% up the assets that were involved in the transaction<00:05:43.750> before<00:05:43.930> the<00:05:44.229> transaction<00:05:44.800> took 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position:0% interaction is taking place they're locking<00:05:56.199> up<00:05:56.469> their<00:05:56.590> stable<00:05:56.979> coin<00:05:57.159> and<00:05:57.430> they're 00:05:57.510 --> 00:05:57.520 align:start position:0% locking up their stable coin and they're 00:05:57.520 --> 00:06:00.270 align:start position:0% locking up their stable coin and they're locking<00:05:57.699> up<00:05:57.969> that<00:05:58.120> hat<00:05:58.469> and<00:05:59.469> then<00:05:59.889> once<00:06:00.099> they 00:06:00.270 --> 00:06:00.280 align:start position:0% locking up that hat and then once they 00:06:00.280 --> 00:06:02.129 align:start position:0% locking up that hat and then once they have<00:06:00.310> like<00:06:00.849> sort<00:06:01.120> of<00:06:01.150> a<00:06:01.240> receipt<00:06:01.599> from<00:06:01.810> each<00:06:01.990> of 00:06:02.129 --> 00:06:02.139 align:start position:0% have like sort of a receipt from each of 00:06:02.139 --> 00:06:03.870 align:start position:0% have like sort of a receipt from each of those<00:06:02.229> other<00:06:02.560> shards<00:06:03.070> saying<00:06:03.340> hey<00:06:03.580> these 00:06:03.870 --> 00:06:03.880 align:start position:0% those other shards saying hey these 00:06:03.880 --> 00:06:05.700 align:start position:0% those other shards saying hey these these<00:06:04.389> things<00:06:04.659> are<00:06:04.810> locked<00:06:05.050> up<00:06:05.259> they<00:06:05.440> can't 00:06:05.700 --> 00:06:05.710 align:start position:0% these things are locked up they can't 00:06:05.710 --> 00:06:08.010 align:start position:0% these things are locked up they can't change<00:06:06.219> their<00:06:06.430> state<00:06:06.729> or<00:06:06.969> or<00:06:07.270> change<00:06:07.840> their 00:06:08.010 --> 00:06:08.020 align:start position:0% change their state or or change their 00:06:08.020 --> 00:06:10.379 align:start position:0% change their state or or change their ownership<00:06:08.409> then<00:06:09.370> it<00:06:09.550> can<00:06:09.699> go<00:06:09.849> to<00:06:09.909> the<00:06:10.180> sales 00:06:10.379 --> 00:06:10.389 align:start position:0% ownership then it can go to the sales 00:06:10.389 --> 00:06:12.540 align:start position:0% ownership then it can go to the sales contract<00:06:10.960> and<00:06:11.110> say<00:06:11.229> okay<00:06:11.440> it's<00:06:11.590> safe<00:06:11.830> that<00:06:11.860> to 00:06:12.540 --> 00:06:12.550 align:start position:0% contract and say okay it's safe that to 00:06:12.550 --> 00:06:14.430 align:start position:0% contract and say okay it's safe that to send<00:06:13.300> a<00:06:13.449> message<00:06:13.780> to<00:06:13.810> all<00:06:14.050> these<00:06:14.229> other 00:06:14.430 --> 00:06:14.440 align:start position:0% send a message to all these other 00:06:14.440 --> 00:06:15.839 align:start position:0% send a message to all these other contracts<00:06:14.979> and<00:06:15.159> allow<00:06:15.340> these<00:06:15.520> these 00:06:15.839 --> 00:06:15.849 align:start position:0% contracts and allow these these 00:06:15.849 --> 00:06:19.379 align:start position:0% contracts and allow these these transfers<00:06:16.389> to<00:06:16.539> go<00:06:16.659> through<00:06:17.940> and<00:06:18.940> you'll<00:06:19.210> see 00:06:19.379 --> 00:06:19.389 align:start position:0% transfers to go through and you'll see 00:06:19.389 --> 00:06:20.700 align:start position:0% transfers to go through and you'll see here<00:06:19.570> and<00:06:19.690> I<00:06:19.750> haven't<00:06:19.930> explained<00:06:20.320> all<00:06:20.440> of<00:06:20.590> the 00:06:20.700 --> 00:06:20.710 align:start position:0% here and I haven't explained all of the 00:06:20.710 --> 00:06:22.200 align:start position:0% here and I haven't explained all of the the<00:06:20.979> bits<00:06:21.159> and<00:06:21.310> bobs<00:06:21.460> here<00:06:21.639> but<00:06:21.820> what<00:06:22.000> was<00:06:22.180> a 00:06:22.200 --> 00:06:22.210 align:start position:0% the bits and bobs here but what was a 00:06:22.210 --> 00:06:24.709 align:start position:0% the bits and bobs here but what was a single<00:06:22.719> transaction<00:06:23.050> on<00:06:23.380> a<00:06:23.409> single<00:06:23.770> shard<00:06:24.039> is 00:06:24.709 --> 00:06:24.719 align:start position:0% single transaction on a single shard is 00:06:24.719 --> 00:06:27.749 align:start position:0% single transaction on a single shard is when<00:06:25.719> it's<00:06:25.870> across<00:06:26.139> four<00:06:26.409> shards<00:06:26.800> it's<00:06:27.099> now<00:06:27.280> 11 00:06:27.749 --> 00:06:27.759 align:start position:0% when it's across four shards it's now 11 00:06:27.759 --> 00:06:29.550 align:start position:0% when it's across four shards it's now 11 transactions<00:06:28.509> and<00:06:28.750> it's<00:06:28.870> taking<00:06:29.199> seven 00:06:29.550 --> 00:06:29.560 align:start position:0% transactions and it's taking seven 00:06:29.560 --> 00:06:32.459 align:start position:0% transactions and it's taking seven blocks<00:06:30.300> possibly<00:06:31.300> much<00:06:31.449> more<00:06:31.719> if<00:06:31.960> those<00:06:32.169> cross 00:06:32.459 --> 00:06:32.469 align:start position:0% blocks possibly much more if those cross 00:06:32.469 --> 00:06:35.760 align:start position:0% blocks possibly much more if those cross shard<00:06:32.770> interaction<00:06:33.699> calls<00:06:34.169> can't<00:06:35.169> happen<00:06:35.409> in 00:06:35.760 --> 00:06:35.770 align:start position:0% shard interaction calls can't happen in 00:06:35.770 --> 00:06:38.250 align:start position:0% shard interaction calls can't happen in subsequent<00:06:36.159> blocks<00:06:36.400> which<00:06:36.839> many<00:06:37.839> designs 00:06:38.250 --> 00:06:38.260 align:start position:0% subsequent blocks which many designs 00:06:38.260 --> 00:06:40.679 align:start position:0% subsequent blocks which many designs don't<00:06:38.560> allow 00:06:40.679 --> 00:06:40.689 align:start position:0% don't allow 00:06:40.689 --> 00:06:41.699 align:start position:0% don't allow and<00:06:40.779> this<00:06:40.959> kind<00:06:41.169> of<00:06:41.199> interaction<00:06:41.649> between 00:06:41.699 --> 00:06:41.709 align:start position:0% and this kind of interaction between 00:06:41.709 --> 00:06:43.859 align:start position:0% and this kind of interaction between smart<00:06:42.099> contracts<00:06:42.459> is<00:06:42.849> hardly<00:06:43.330> threat<00:06:43.629> achill 00:06:43.859 --> 00:06:43.869 align:start position:0% smart contracts is hardly threat achill 00:06:43.869 --> 00:06:46.859 align:start position:0% smart contracts is hardly threat achill you<00:06:44.709> know<00:06:44.830> you<00:06:44.889> you<00:06:45.519> I'm<00:06:46.029> sure<00:06:46.389> everyone<00:06:46.779> in 00:06:46.859 --> 00:06:46.869 align:start position:0% you know you you I'm sure everyone in 00:06:46.869 --> 00:06:48.179 align:start position:0% you know you you I'm sure everyone in this<00:06:46.929> room<00:06:47.019> is<00:06:47.259> familiar<00:06:47.319> with<00:06:47.679> all<00:06:47.799> of<00:06:48.069> the 00:06:48.179 --> 00:06:48.189 align:start position:0% this room is familiar with all of the 00:06:48.189 --> 00:06:50.129 align:start position:0% this room is familiar with all of the awesome<00:06:48.309> projects<00:06:49.089> in<00:06:49.179> the<00:06:49.269> dphi<00:06:49.539> space<00:06:49.869> and 00:06:50.129 --> 00:06:50.139 align:start position:0% awesome projects in the dphi space and 00:06:50.139 --> 00:06:54.269 align:start position:0% awesome projects in the dphi space and compound<00:06:51.099> can't<00:06:51.369> exist<00:06:51.759> without<00:06:52.059> die<00:06:52.979> 0x<00:06:53.979> is 00:06:54.269 --> 00:06:54.279 align:start position:0% compound can't exist without die 0x is 00:06:54.279 --> 00:06:56.189 align:start position:0% compound can't exist without die 0x is not<00:06:54.610> interesting<00:06:55.149> unless<00:06:55.389> it's<00:06:55.569> talking<00:06:55.779> to<00:06:55.989> a 00:06:56.189 --> 00:06:56.199 align:start position:0% not interesting unless it's talking to a 00:06:56.199 --> 00:06:58.649 align:start position:0% not interesting unless it's talking to a bunch<00:06:56.469> of<00:06:56.619> ERC<00:06:57.039> 20<00:06:57.339> tokens<00:06:57.729> and<00:06:57.939> all<00:06:58.329> of<00:06:58.509> these 00:06:58.649 --> 00:06:58.659 align:start position:0% bunch of ERC 20 tokens and all of these 00:06:58.659 --> 00:07:01.199 align:start position:0% bunch of ERC 20 tokens and all of these projects<00:06:59.169> are<00:06:59.639> building<00:07:00.639> on<00:07:00.759> top<00:07:00.969> of<00:07:01.119> each 00:07:01.199 --> 00:07:01.209 align:start position:0% projects are building on top of each 00:07:01.209 --> 00:07:03.019 align:start position:0% projects are building on top of each other<00:07:01.419> and<00:07:01.659> most<00:07:02.110> of<00:07:02.289> them<00:07:02.409> would<00:07:02.589> be 00:07:03.019 --> 00:07:03.029 align:start position:0% other and most of them would be 00:07:03.029 --> 00:07:06.209 align:start position:0% other and most of them would be difficult<00:07:04.029> if<00:07:04.179> not<00:07:04.239> intractable<00:07:05.199> to<00:07:05.649> build<00:07:05.889> if 00:07:06.209 --> 00:07:06.219 align:start position:0% difficult if not intractable to build if 00:07:06.219 --> 00:07:08.069 align:start position:0% difficult if not intractable to build if they<00:07:06.399> had<00:07:06.579> to<00:07:06.699> deal<00:07:07.239> with<00:07:07.269> asynchronous 00:07:08.069 --> 00:07:08.079 align:start position:0% they had to deal with asynchronous 00:07:08.079 --> 00:07:10.019 align:start position:0% they had to deal with asynchronous communication<00:07:08.469> with<00:07:09.279> those<00:07:09.429> other<00:07:09.639> smart 00:07:10.019 --> 00:07:10.029 align:start position:0% communication with those other smart 00:07:10.029 --> 00:07:14.600 align:start position:0% communication with those other smart contracts<00:07:12.749> so<00:07:13.749> I<00:07:13.779> want<00:07:13.929> to<00:07:13.959> talk<00:07:14.110> about 00:07:14.600 --> 00:07:14.610 align:start position:0% contracts so I want to talk about 00:07:14.610 --> 00:07:17.669 align:start position:0% contracts so I want to talk about another<00:07:15.610> revolution<00:07:16.300> that<00:07:16.449> happened<00:07:16.679> and 00:07:17.669 --> 00:07:17.679 align:start position:0% another revolution that happened and 00:07:17.679 --> 00:07:19.319 align:start position:0% another revolution that happened and sort<00:07:18.039> of<00:07:18.099> the<00:07:18.189> peak<00:07:18.339> of<00:07:18.459> that<00:07:18.519> revolution<00:07:18.999> the 00:07:19.319 --> 00:07:19.329 align:start position:0% sort of the peak of that revolution the 00:07:19.329 --> 00:07:20.939 align:start position:0% sort of the peak of that revolution the open<00:07:19.569> source<00:07:19.779> revolution<00:07:20.289> was<00:07:20.499> in<00:07:20.529> the<00:07:20.860> year 00:07:20.939 --> 00:07:20.949 align:start position:0% open source revolution was in the year 00:07:20.949 --> 00:07:24.689 align:start position:0% open source revolution was in the year 2000<00:07:21.779> and<00:07:22.779> in<00:07:23.559> 2000<00:07:24.189> everyone<00:07:24.399> was<00:07:24.519> really 00:07:24.689 --> 00:07:24.699 align:start position:0% 2000 and in 2000 everyone was really 00:07:24.699 --> 00:07:26.249 align:start position:0% 2000 and in 2000 everyone was really excited<00:07:25.209> about<00:07:25.300> open<00:07:25.629> source<00:07:25.869> and<00:07:26.050> it<00:07:26.169> was 00:07:26.249 --> 00:07:26.259 align:start position:0% excited about open source and it was 00:07:26.259 --> 00:07:28.139 align:start position:0% excited about open source and it was gonna<00:07:26.439> it<00:07:26.979> was<00:07:27.159> gonna<00:07:27.309> completely<00:07:27.789> transform 00:07:28.139 --> 00:07:28.149 align:start position:0% gonna it was gonna completely transform 00:07:28.149 --> 00:07:30.509 align:start position:0% gonna it was gonna completely transform software<00:07:28.869> and<00:07:29.409> it<00:07:29.619> did<00:07:29.889> but<00:07:30.159> not<00:07:30.279> the<00:07:30.429> way 00:07:30.509 --> 00:07:30.519 align:start position:0% software and it did but not the way 00:07:30.519 --> 00:07:33.600 align:start position:0% software and it did but not the way people<00:07:30.819> thought<00:07:31.059> in<00:07:31.419> 2000<00:07:32.379> people<00:07:32.610> expected 00:07:33.600 --> 00:07:33.610 align:start position:0% people thought in 2000 people expected 00:07:33.610 --> 00:07:35.699 align:start position:0% people thought in 2000 people expected that<00:07:33.639> Linux<00:07:34.599> on<00:07:34.839> the<00:07:34.929> desktop<00:07:35.379> was<00:07:35.529> we're 00:07:35.699 --> 00:07:35.709 align:start position:0% that Linux on the desktop was we're 00:07:35.709 --> 00:07:38.489 align:start position:0% that Linux on the desktop was we're gonna<00:07:35.829> replace<00:07:36.189> Windows<00:07:36.729> and<00:07:37.319> software<00:07:38.319> like 00:07:38.489 --> 00:07:38.499 align:start position:0% gonna replace Windows and software like 00:07:38.499 --> 00:07:40.019 align:start position:0% gonna replace Windows and software like OpenOffice<00:07:38.919> and<00:07:39.369> the<00:07:39.639> was<00:07:39.849> gonna 00:07:40.019 --> 00:07:40.029 align:start position:0% OpenOffice and the was gonna 00:07:40.029 --> 00:07:42.269 align:start position:0% OpenOffice and the was gonna replace<00:07:40.360> Microsoft<00:07:41.049> Office<00:07:41.409> and<00:07:41.649> Photoshop 00:07:42.269 --> 00:07:42.279 align:start position:0% replace Microsoft Office and Photoshop 00:07:42.279 --> 00:07:44.459 align:start position:0% replace Microsoft Office and Photoshop and<00:07:42.729> and<00:07:43.419> that's<00:07:43.599> not<00:07:43.719> what<00:07:43.869> happened<00:07:44.319> at<00:07:44.379> all 00:07:44.459 --> 00:07:44.469 align:start position:0% and and that's not what happened at all 00:07:44.469 --> 00:07:46.709 align:start position:0% and and that's not what happened at all the<00:07:45.159> open<00:07:45.369> source<00:07:45.519> revolution<00:07:46.089> was<00:07:46.269> real<00:07:46.509> and 00:07:46.709 --> 00:07:46.719 align:start position:0% the open source revolution was real and 00:07:46.719 --> 00:07:48.299 align:start position:0% the open source revolution was real and it<00:07:46.809> completely<00:07:47.259> changed<00:07:47.829> the<00:07:47.949> way<00:07:48.069> that<00:07:48.219> we 00:07:48.299 --> 00:07:48.309 align:start position:0% it completely changed the way that we 00:07:48.309 --> 00:07:50.699 align:start position:0% it completely changed the way that we think<00:07:48.489> about<00:07:48.759> and<00:07:48.939> make<00:07:49.059> software<00:07:49.619> but<00:07:50.619> it 00:07:50.699 --> 00:07:50.709 align:start position:0% think about and make software but it 00:07:50.709 --> 00:07:52.649 align:start position:0% think about and make software but it looks<00:07:50.860> like<00:07:51.039> this<00:07:51.249> it's<00:07:52.029> a<00:07:52.119> bunch<00:07:52.329> of<00:07:52.419> little 00:07:52.649 --> 00:07:52.659 align:start position:0% looks like this it's a bunch of little 00:07:52.659 --> 00:07:54.299 align:start position:0% looks like this it's a bunch of little tiny<00:07:52.839> components<00:07:53.499> that<00:07:53.619> are<00:07:53.739> built<00:07:53.889> on<00:07:54.009> top<00:07:54.069> of 00:07:54.299 --> 00:07:54.309 align:start position:0% tiny components that are built on top of 00:07:54.309 --> 00:07:55.589 align:start position:0% tiny components that are built on top of each<00:07:54.489> other<00:07:54.669> and<00:07:54.759> some<00:07:54.909> of<00:07:54.999> those<00:07:55.059> components 00:07:55.589 --> 00:07:55.599 align:start position:0% each other and some of those components 00:07:55.599 --> 00:07:57.089 align:start position:0% each other and some of those components aren't<00:07:55.719> so<00:07:56.050> tiny<00:07:56.319> right<00:07:56.619> there<00:07:56.829> they're 00:07:57.089 --> 00:07:57.099 align:start position:0% aren't so tiny right there they're 00:07:57.099 --> 00:07:59.489 align:start position:0% aren't so tiny right there they're significant<00:07:57.729> but<00:07:58.209> what<00:07:58.539> the<00:07:58.719> power<00:07:59.019> of<00:07:59.349> them 00:07:59.489 --> 00:07:59.499 align:start position:0% significant but what the power of them 00:07:59.499 --> 00:08:01.379 align:start position:0% significant but what the power of them is<00:07:59.679> that<00:07:59.829> they're<00:07:59.979> not<00:08:00.159> solving<00:08:01.029> a<00:08:01.119> particular 00:08:01.379 --> 00:08:01.389 align:start position:0% is that they're not solving a particular 00:08:01.389 --> 00:08:04.199 align:start position:0% is that they're not solving a particular user<00:08:02.319> problem<00:08:02.889> it's<00:08:03.099> that<00:08:03.309> they're<00:08:03.610> consists 00:08:04.199 --> 00:08:04.209 align:start position:0% user problem it's that they're consists 00:08:04.209 --> 00:08:06.479 align:start position:0% user problem it's that they're consists of<00:08:04.329> a<00:08:04.539> set<00:08:04.779> of<00:08:04.899> it's<00:08:05.229> there<00:08:05.709> a<00:08:05.739> set<00:08:06.069> of<00:08:06.189> tools 00:08:06.479 --> 00:08:06.489 align:start position:0% of a set of it's there a set of tools 00:08:06.489 --> 00:08:08.729 align:start position:0% of a set of it's there a set of tools that<00:08:06.909> different<00:08:07.779> people<00:08:08.110> can<00:08:08.319> create 00:08:08.729 --> 00:08:08.739 align:start position:0% that different people can create 00:08:08.739 --> 00:08:12.299 align:start position:0% that different people can create different<00:08:08.860> solutions<00:08:09.550> out<00:08:09.759> of<00:08:09.969> and<00:08:10.779> I<00:08:11.469> believe 00:08:12.299 --> 00:08:12.309 align:start position:0% different solutions out of and I believe 00:08:12.309 --> 00:08:15.179 align:start position:0% different solutions out of and I believe that<00:08:12.699> the<00:08:13.019> real<00:08:14.019> power<00:08:14.289> of<00:08:14.529> smart<00:08:14.769> contracts 00:08:15.179 --> 00:08:15.189 align:start position:0% that the real power of smart contracts 00:08:15.189 --> 00:08:16.999 align:start position:0% that the real power of smart contracts if<00:08:15.369> we<00:08:15.519> think<00:08:15.699> of<00:08:15.819> them<00:08:15.999> in<00:08:16.149> that<00:08:16.300> way<00:08:16.539> as 00:08:16.999 --> 00:08:17.009 align:start position:0% if we think of them in that way as 00:08:17.009 --> 00:08:20.489 align:start position:0% if we think of them in that way as building<00:08:18.009> blocks<00:08:18.219> that<00:08:18.399> are<00:08:19.169> you<00:08:20.169> know<00:08:20.289> each 00:08:20.489 --> 00:08:20.499 align:start position:0% building blocks that are you know each 00:08:20.499 --> 00:08:21.959 align:start position:0% building blocks that are you know each building<00:08:20.919> on<00:08:21.069> the<00:08:21.189> next<00:08:21.489> and<00:08:21.639> working 00:08:21.959 --> 00:08:21.969 align:start position:0% building on the next and working 00:08:21.969 --> 00:08:24.059 align:start position:0% building on the next and working together<00:08:22.089> to<00:08:22.539> create<00:08:22.719> lots<00:08:23.229> of<00:08:23.439> solutions<00:08:23.919> and 00:08:24.059 --> 00:08:24.069 align:start position:0% together to create lots of solutions and 00:08:24.069 --> 00:08:25.949 align:start position:0% together to create lots of solutions and not<00:08:24.189> just<00:08:24.429> these<00:08:24.579> monolithic<00:08:25.360> things<00:08:25.749> that 00:08:25.949 --> 00:08:25.959 align:start position:0% not just these monolithic things that 00:08:25.959 --> 00:08:28.109 align:start position:0% not just these monolithic things that are<00:08:26.079> just<00:08:26.199> replacing<00:08:26.499> one<00:08:27.219> institution<00:08:27.879> at<00:08:27.969> a 00:08:28.109 --> 00:08:28.119 align:start position:0% are just replacing one institution at a 00:08:28.119 --> 00:08:30.479 align:start position:0% are just replacing one institution at a time<00:08:28.329> with<00:08:28.839> replacing<00:08:29.529> one<00:08:29.679> institution<00:08:30.369> with 00:08:30.479 --> 00:08:30.489 align:start position:0% time with replacing one institution with 00:08:30.489 --> 00:08:34.379 align:start position:0% time with replacing one institution with one<00:08:30.669> smart<00:08:30.999> contract<00:08:31.769> and<00:08:32.769> so<00:08:33.639> if<00:08:34.059> you<00:08:34.269> ever 00:08:34.379 --> 00:08:34.389 align:start position:0% one smart contract and so if you ever 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head well you know came maybe we've solved<00:08:40.809> the<00:08:40.899> train<00:08:41.169> and<00:08:41.349> hotel<00:08:41.680> problem<00:08:41.979> but 00:08:42.059 --> 00:08:42.069 align:start position:0% solved the train and hotel problem but 00:08:42.069 --> 00:08:43.999 align:start position:0% solved the train and hotel problem but have<00:08:42.219> they<00:08:42.339> solved<00:08:42.729> the<00:08:42.879> Train<00:08:43.419> hotel 00:08:43.999 --> 00:08:44.009 align:start position:0% have they solved the Train hotel 00:08:44.009 --> 00:08:47.220 align:start position:0% have they solved the Train hotel restaurant<00:08:45.009> reservation<00:08:45.730> movie<00:08:46.360> tickets<00:08:46.839> to 00:08:47.220 --> 00:08:47.230 align:start position:0% restaurant reservation movie tickets to 00:08:47.230 --> 00:08:50.579 align:start position:0% restaurant reservation movie tickets to or<00:08:47.410> bus<00:08:47.620> a<00:08:48.029> problem<00:08:49.029> because<00:08:49.360> I<00:08:49.600> think<00:08:50.079> that<00:08:50.470> in 00:08:50.579 --> 00:08:50.589 align:start position:0% or bus a problem because I think that in 00:08:50.589 --> 00:08:52.889 align:start position:0% or bus a problem because I think that in reality<00:08:50.769> smart<00:08:51.429> contracts<00:08:51.880> it's<00:08:52.209> very<00:08:52.569> rarely 00:08:52.889 --> 00:08:52.899 align:start position:0% reality smart contracts it's very rarely 00:08:52.899 --> 00:08:54.300 align:start position:0% reality smart contracts it's very rarely won<00:08:53.230> smart<00:08:53.559> contract<00:08:53.980> meaning 00:08:54.300 --> 00:08:54.310 align:start position:0% won smart contract meaning 00:08:54.310 --> 00:08:57.620 align:start position:0% won smart contract meaning talk<00:08:54.520> to<00:08:54.640> another<00:08:54.850> it's<00:08:55.240> it's<00:08:55.570> a<00:08:55.750> multiple<00:08:56.430> and 00:08:57.620 --> 00:08:57.630 align:start position:0% talk to another it's it's a multiple and 00:08:57.630 --> 00:09:01.710 align:start position:0% talk to another it's it's a multiple and that<00:08:58.630> term<00:08:58.930> that<00:08:59.590> has<00:08:59.830> come<00:09:00.130> to<00:09:00.540> Express<00:09:01.540> this 00:09:01.710 --> 00:09:01.720 align:start position:0% that term that has come to Express this 00:09:01.720 --> 00:09:04.980 align:start position:0% that term that has come to Express this is<00:09:01.930> his<00:09:02.200> composability<00:09:03.120> and<00:09:04.120> and<00:09:04.300> I<00:09:04.420> truly 00:09:04.980 --> 00:09:04.990 align:start position:0% is his composability and and I truly 00:09:04.990 --> 00:09:06.960 align:start position:0% is his composability and and I truly believe<00:09:05.230> that<00:09:05.260> composability<00:09:05.920> could<00:09:06.400> is<00:09:06.640> the 00:09:06.960 --> 00:09:06.970 align:start position:0% believe that composability could is the 00:09:06.970 --> 00:09:11.100 align:start position:0% believe that composability could is the superpower<00:09:07.510> of<00:09:07.810> smart<00:09:08.529> contracts<00:09:09.960> you<00:09:10.960> see 00:09:11.100 --> 00:09:11.110 align:start position:0% superpower of smart contracts you see 00:09:11.110 --> 00:09:12.990 align:start position:0% superpower of smart contracts you see here<00:09:11.230> a<00:09:11.260> quote<00:09:11.500> from<00:09:11.860> Jessie<00:09:12.520> Walden<00:09:12.850> of 00:09:12.990 --> 00:09:13.000 align:start position:0% here a quote from Jessie Walden of 00:09:13.000 --> 00:09:14.310 align:start position:0% here a quote from Jessie Walden of andreessen<00:09:13.420> horowitz<00:09:13.720> and<00:09:13.870> he<00:09:13.930> wrote<00:09:14.080> a<00:09:14.110> great 00:09:14.310 --> 00:09:14.320 align:start position:0% andreessen horowitz and he wrote a great 00:09:14.320 --> 00:09:16.170 align:start position:0% andreessen horowitz and he wrote a great piece<00:09:14.589> talking<00:09:14.830> about<00:09:15.220> composability<00:09:15.850> and<00:09:16.120> I 00:09:16.170 --> 00:09:16.180 align:start position:0% piece talking about composability and I 00:09:16.180 --> 00:09:18.570 align:start position:0% piece talking about composability and I think<00:09:16.390> the<00:09:16.870> you<00:09:17.230> know<00:09:17.350> the<00:09:17.470> key<00:09:17.740> phrase<00:09:18.310> in 00:09:18.570 --> 00:09:18.580 align:start position:0% think the you know the key phrase in 00:09:18.580 --> 00:09:20.880 align:start position:0% think the you know the key phrase in there<00:09:18.760> is<00:09:18.970> compounding<00:09:19.779> innovation<00:09:20.260> the<00:09:20.680> fact 00:09:20.880 --> 00:09:20.890 align:start position:0% there is compounding innovation the fact 00:09:20.890 --> 00:09:22.560 align:start position:0% there is compounding innovation the fact that<00:09:21.040> it's<00:09:21.160> not<00:09:21.279> one<00:09:21.580> person<00:09:22.000> or<00:09:22.120> one<00:09:22.150> team 00:09:22.560 --> 00:09:22.570 align:start position:0% that it's not one person or one team 00:09:22.570 --> 00:09:24.660 align:start position:0% that it's not one person or one team that<00:09:22.839> needs<00:09:22.990> to<00:09:23.170> make<00:09:23.320> one<00:09:23.500> giant<00:09:23.800> step<00:09:24.370> of 00:09:24.660 --> 00:09:24.670 align:start position:0% that needs to make one giant step of 00:09:24.670 --> 00:09:26.519 align:start position:0% that needs to make one giant step of innovation<00:09:25.150> it's<00:09:25.360> that<00:09:25.690> everybody<00:09:26.320> can 00:09:26.519 --> 00:09:26.529 align:start position:0% innovation it's that everybody can 00:09:26.529 --> 00:09:27.990 align:start position:0% innovation it's that everybody can contribute<00:09:26.770> a<00:09:27.100> little<00:09:27.220> bit<00:09:27.370> and<00:09:27.670> that 00:09:27.990 --> 00:09:28.000 align:start position:0% contribute a little bit and that 00:09:28.000 --> 00:09:30.380 align:start position:0% contribute a little bit and that compounds<00:09:28.630> over<00:09:28.690> time<00:09:29.020> and<00:09:29.230> as<00:09:29.500> we<00:09:29.650> all<00:09:29.770> know 00:09:30.380 --> 00:09:30.390 align:start position:0% compounds over time and as we all know 00:09:30.390 --> 00:09:32.550 align:start position:0% compounds over time and as we all know compounding<00:09:31.390> growth<00:09:31.600> is<00:09:31.839> exponential<00:09:32.440> and 00:09:32.550 --> 00:09:32.560 align:start position:0% compounding growth is exponential and 00:09:32.560 --> 00:09:33.900 align:start position:0% compounding growth is exponential and there's<00:09:32.740> no<00:09:32.860> more<00:09:33.010> powerful<00:09:33.339> force<00:09:33.700> in<00:09:33.820> the 00:09:33.900 --> 00:09:33.910 align:start position:0% there's no more powerful force in the 00:09:33.910 --> 00:09:38.160 align:start position:0% there's no more powerful force in the world 00:09:38.160 --> 00:09:38.170 align:start position:0% 00:09:38.170 --> 00:09:50.930 align:start position:0% [Music] 00:09:50.930 --> 00:09:50.940 align:start position:0% [Music] 00:09:50.940 --> 00:09:53.080 align:start position:0% [Music] [Applause] 00:09:53.080 --> 00:09:53.090 align:start position:0% [Applause] 00:09:53.090 --> 00:10:11.950 align:start position:0% [Applause] [Music] 00:10:11.950 --> 00:10:11.960 align:start position:0% 00:10:11.960 --> 00:10:15.940 align:start position:0% with<00:10:12.620> that<00:10:13.240> visit<00:10:14.240> cheese<00:10:14.570> wizard<00:10:15.080> calm<00:10:15.590> to 00:10:15.940 --> 00:10:15.950 align:start position:0% with that visit cheese wizard calm to 00:10:15.950 --> 00:10:22.329 align:start position:0% with that visit cheese wizard calm to summon<00:10:16.310> today 00:10:22.329 --> 00:10:22.339 align:start position:0% 00:10:22.339 --> 00:10:26.420 align:start position:0% thank<00:10:23.339> you<00:10:24.710> so<00:10:25.710> that<00:10:25.800> was<00:10:25.890> cool<00:10:26.070> and<00:10:26.250> all<00:10:26.370> but 00:10:26.420 --> 00:10:26.430 align:start position:0% thank you so that was cool and all but 00:10:26.430 --> 00:10:27.500 align:start position:0% thank you so that was cool and all but what<00:10:26.730> the<00:10:26.820> heck<00:10:26.940> doesn't<00:10:27.150> have<00:10:27.240> to<00:10:27.330> do<00:10:27.480> with 00:10:27.500 --> 00:10:27.510 align:start position:0% what the heck doesn't have to do with 00:10:27.510 --> 00:10:31.190 align:start position:0% what the heck doesn't have to do with smart<00:10:27.870> contracts<00:10:28.320> and<00:10:28.560> composability<00:10:30.200> the 00:10:31.190 --> 00:10:31.200 align:start position:0% smart contracts and composability the 00:10:31.200 --> 00:10:34.340 align:start position:0% smart contracts and composability the team<00:10:31.529> at<00:10:31.650> dapper<00:10:31.950> labs<00:10:32.630> was<00:10:33.630> so<00:10:33.779> inspired<00:10:34.230> by 00:10:34.340 --> 00:10:34.350 align:start position:0% team at dapper labs was so inspired by 00:10:34.350 --> 00:10:36.110 align:start position:0% team at dapper labs was so inspired by the<00:10:34.560> example<00:10:35.160> of<00:10:35.190> kitty<00:10:35.430> cats<00:10:35.640> that<00:10:35.850> when<00:10:36.000> we 00:10:36.110 --> 00:10:36.120 align:start position:0% the example of kitty cats that when we 00:10:36.120 --> 00:10:38.480 align:start position:0% the example of kitty cats that when we built<00:10:36.330> our<00:10:36.420> new<00:10:36.600> game<00:10:36.810> cheese<00:10:37.200> wizards<00:10:37.529> we 00:10:38.480 --> 00:10:38.490 align:start position:0% built our new game cheese wizards we 00:10:38.490 --> 00:10:39.650 align:start position:0% built our new game cheese wizards we were<00:10:38.610> bought<00:10:38.820> into<00:10:39.060> the<00:10:39.330> notion<00:10:39.360> of 00:10:39.650 --> 00:10:39.660 align:start position:0% were bought into the notion of 00:10:39.660 --> 00:10:41.450 align:start position:0% were bought into the notion of composability<00:10:40.230> and<00:10:40.500> extensibility<00:10:41.010> on<00:10:41.279> day 00:10:41.450 --> 00:10:41.460 align:start position:0% composability and extensibility on day 00:10:41.460 --> 00:10:45.920 align:start position:0% composability and extensibility on day one<00:10:41.670> and<00:10:42.170> so<00:10:43.970> over<00:10:44.970> the<00:10:45.060> last<00:10:45.180> six<00:10:45.450> weeks<00:10:45.510> or<00:10:45.750> so 00:10:45.920 --> 00:10:45.930 align:start position:0% one and so over the last six weeks or so 00:10:45.930 --> 00:10:49.460 align:start position:0% one and so over the last six weeks or so we've<00:10:46.470> been<00:10:46.500> running<00:10:46.770> a<00:10:46.980> hackathon<00:10:47.510> with<00:10:48.510> a 00:10:49.460 --> 00:10:49.470 align:start position:0% we've been running a hackathon with a 00:10:49.470 --> 00:10:51.560 align:start position:0% we've been running a hackathon with a bunch<00:10:49.950> of<00:10:50.070> community<00:10:50.520> support<00:10:50.910> and<00:10:51.060> prizes 00:10:51.560 --> 00:10:51.570 align:start position:0% bunch of community support and prizes 00:10:51.570 --> 00:10:54.140 align:start position:0% bunch of community support and prizes because<00:10:52.350> we<00:10:52.500> wanted<00:10:52.710> to<00:10:52.770> kick-start<00:10:53.070> the<00:10:53.580> the 00:10:54.140 --> 00:10:54.150 align:start position:0% because we wanted to kick-start the the 00:10:54.150 --> 00:10:57.200 align:start position:0% because we wanted to kick-start the the the<00:10:55.110> community's<00:10:55.560> creation<00:10:56.100> of<00:10:56.310> some<00:10:56.760> amazing 00:10:57.200 --> 00:10:57.210 align:start position:0% the community's creation of some amazing 00:10:57.210 --> 00:11:00.380 align:start position:0% the community's creation of some amazing tools<00:10:57.740> and<00:10:58.740> there's<00:10:59.520> a<00:10:59.610> couple<00:10:59.790> of<00:10:59.940> it's<00:11:00.270> one 00:11:00.380 --> 00:11:00.390 align:start position:0% tools and there's a couple of it's one 00:11:00.390 --> 00:11:01.370 align:start position:0% tools and there's a couple of it's one of<00:11:00.450> the<00:11:00.510> highlight<00:11:00.779> right<00:11:00.930> here 00:11:01.370 --> 00:11:01.380 align:start position:0% of the highlight right here 00:11:01.380 --> 00:11:04.850 align:start position:0% of the highlight right here so<00:11:01.650> on<00:11:01.800> the<00:11:01.890> right<00:11:02.040> my<00:11:02.310> mark<00:11:03.000> Pereira<00:11:03.680> did<00:11:04.680> a 00:11:04.850 --> 00:11:04.860 align:start position:0% so on the right my mark Pereira did a 00:11:04.860 --> 00:11:07.010 align:start position:0% so on the right my mark Pereira did a mobile<00:11:05.250> version<00:11:05.400> of<00:11:05.730> our<00:11:05.970> of<00:11:06.240> our<00:11:06.480> of<00:11:06.810> our 00:11:07.010 --> 00:11:07.020 align:start position:0% mobile version of our of our of our 00:11:07.020 --> 00:11:09.800 align:start position:0% mobile version of our of our of our battle<00:11:07.350> game<00:11:07.529> it's<00:11:08.520> a<00:11:08.700> you<00:11:09.029> know<00:11:09.120> she's<00:11:09.630> was 00:11:09.800 --> 00:11:09.810 align:start position:0% battle game it's a you know she's was 00:11:09.810 --> 00:11:11.060 align:start position:0% battle game it's a you know she's was just<00:11:09.960> a<00:11:10.050> game<00:11:10.200> where<00:11:10.380> you<00:11:10.440> buy<00:11:10.560> Wizards<00:11:10.920> and 00:11:11.060 --> 00:11:11.070 align:start position:0% just a game where you buy Wizards and 00:11:11.070 --> 00:11:12.980 align:start position:0% just a game where you buy Wizards and you<00:11:11.130> fight<00:11:11.310> them<00:11:11.490> and<00:11:11.640> there's<00:11:12.150> it's<00:11:12.510> a<00:11:12.630> you 00:11:12.980 --> 00:11:12.990 align:start position:0% you fight them and there's it's a you 00:11:12.990 --> 00:11:14.870 align:start position:0% you fight them and there's it's a you know<00:11:13.050> it's<00:11:13.110> the<00:11:13.350> land<00:11:14.070> of<00:11:14.250> Highlander<00:11:14.730> there 00:11:14.870 --> 00:11:14.880 align:start position:0% know it's the land of Highlander there 00:11:14.880 --> 00:11:16.640 align:start position:0% know it's the land of Highlander there can<00:11:15.000> be<00:11:15.029> only<00:11:15.270> one<00:11:15.480> and<00:11:15.810> whoever<00:11:16.050> wins<00:11:16.260> the<00:11:16.500> Big 00:11:16.640 --> 00:11:16.650 align:start position:0% can be only one and whoever wins the Big 00:11:16.650 --> 00:11:19.610 align:start position:0% can be only one and whoever wins the Big Cheese<00:11:16.920> will<00:11:17.910> take<00:11:18.120> home<00:11:18.300> a<00:11:18.330> big<00:11:19.080> old<00:11:19.260> pot<00:11:19.470> of 00:11:19.610 --> 00:11:19.620 align:start position:0% Cheese will take home a big old pot of 00:11:19.620 --> 00:11:22.940 align:start position:0% Cheese will take home a big old pot of ether<00:11:20.060> and<00:11:21.170> you<00:11:22.170> know<00:11:22.260> our<00:11:22.350> team<00:11:22.560> didn't<00:11:22.800> have 00:11:22.940 --> 00:11:22.950 align:start position:0% ether and you know our team didn't have 00:11:22.950 --> 00:11:25.280 align:start position:0% ether and you know our team didn't have the<00:11:23.130> time<00:11:23.310> to<00:11:23.339> build<00:11:23.730> a<00:11:23.970> native<00:11:24.630> mobile<00:11:24.990> app 00:11:25.280 --> 00:11:25.290 align:start position:0% the time to build a native mobile app 00:11:25.290 --> 00:11:27.140 align:start position:0% the time to build a native mobile app and<00:11:25.529> so<00:11:25.650> mark<00:11:26.279> took<00:11:26.459> it<00:11:26.580> upon<00:11:26.790> himself<00:11:26.850> to 00:11:27.140 --> 00:11:27.150 align:start position:0% and so mark took it upon himself to 00:11:27.150 --> 00:11:29.449 align:start position:0% and so mark took it upon himself to build<00:11:27.390> one<00:11:27.540> which<00:11:27.690> is<00:11:27.839> amazing<00:11:28.370> there<00:11:29.370> is 00:11:29.449 --> 00:11:29.459 align:start position:0% build one which is amazing there is 00:11:29.459 --> 00:11:31.760 align:start position:0% build one which is amazing there is cheese<00:11:29.880> now<00:11:30.120> over<00:11:30.360> there<00:11:30.510> which<00:11:30.750> I<00:11:31.080> think<00:11:31.320> is 00:11:31.760 --> 00:11:31.770 align:start position:0% cheese now over there which I think is 00:11:31.770 --> 00:11:33.860 align:start position:0% cheese now over there which I think is incredible<00:11:32.430> I<00:11:33.000> don't<00:11:33.420> know<00:11:33.510> if<00:11:33.570> we<00:11:33.660> would<00:11:33.779> have 00:11:33.860 --> 00:11:33.870 align:start position:0% incredible I don't know if we would have 00:11:33.870 --> 00:11:36.110 align:start position:0% incredible I don't know if we would have thought<00:11:34.020> of<00:11:34.080> that<00:11:34.200> ourselves<00:11:34.850> it's<00:11:35.850> the 00:11:36.110 --> 00:11:36.120 align:start position:0% thought of that ourselves it's the 00:11:36.120 --> 00:11:37.579 align:start position:0% thought of that ourselves it's the ability<00:11:36.270> for<00:11:36.480> anyone<00:11:36.870> to<00:11:37.020> create<00:11:37.200> a<00:11:37.350> dhow 00:11:37.579 --> 00:11:37.589 align:start position:0% ability for anyone to create a dhow 00:11:37.589 --> 00:11:41.060 align:start position:0% ability for anyone to create a dhow multiple<00:11:38.130> doubts<00:11:38.310> if<00:11:39.029> they<00:11:39.480> want<00:11:39.690> and<00:11:39.930> it's<00:11:40.890> an 00:11:41.060 --> 00:11:41.070 align:start position:0% multiple doubts if they want and it's an 00:11:41.070 --> 00:11:42.350 align:start position:0% multiple doubts if they want and it's an interesting<00:11:41.279> sort<00:11:41.640> of<00:11:41.730> down<00:11:41.940> where<00:11:42.180> the 00:11:42.350 --> 00:11:42.360 align:start position:0% interesting sort of down where the 00:11:42.360 --> 00:11:44.480 align:start position:0% interesting sort of down where the voting<00:11:42.750> power<00:11:42.900> in<00:11:43.290> those<00:11:43.440> doubts<00:11:43.740> is<00:11:44.040> not 00:11:44.480 --> 00:11:44.490 align:start position:0% voting power in those doubts is not 00:11:44.490 --> 00:11:45.740 align:start position:0% voting power in those doubts is not based<00:11:44.730> on<00:11:44.880> whose<00:11:45.120> contribute<00:11:45.600> the<00:11:45.660> most 00:11:45.740 --> 00:11:45.750 align:start position:0% based on whose contribute the most 00:11:45.750 --> 00:11:47.329 align:start position:0% based on whose contribute the most tokens<00:11:46.170> but<00:11:46.290> who's<00:11:47.010> been<00:11:47.220> the<00:11:47.279> most 00:11:47.329 --> 00:11:47.339 align:start position:0% tokens but who's been the most 00:11:47.339 --> 00:11:50.840 align:start position:0% tokens but who's been the most successful<00:11:47.610> in<00:11:48.060> the<00:11:48.180> game<00:11:48.410> and<00:11:49.410> so<00:11:49.770> this<00:11:50.670> is 00:11:50.840 --> 00:11:50.850 align:start position:0% successful in the game and so this is 00:11:50.850 --> 00:11:54.290 align:start position:0% successful in the game and so this is the<00:11:50.940> kind<00:11:51.120> of<00:11:51.270> thing<00:11:51.480> that<00:11:52.170> is<00:11:53.160> possible<00:11:53.790> when 00:11:54.290 --> 00:11:54.300 align:start position:0% the kind of thing that is possible when 00:11:54.300 --> 00:11:57.170 align:start position:0% the kind of thing that is possible when you<00:11:54.690> are<00:11:54.720> building<00:11:55.200> platforms<00:11:56.070> that<00:11:56.970> don't 00:11:57.170 --> 00:11:57.180 align:start position:0% you are building platforms that don't 00:11:57.180 --> 00:11:59.000 align:start position:0% you are building platforms that don't have<00:11:57.450> platform<00:11:57.990> risk<00:11:58.170> and<00:11:58.350> that's<00:11:58.440> that's 00:11:59.000 --> 00:11:59.010 align:start position:0% have platform risk and that's that's 00:11:59.010 --> 00:12:01.910 align:start position:0% have platform risk and that's that's what<00:11:59.310> I<00:11:59.339> think<00:11:59.610> is<00:11:59.760> the<00:11:59.940> the<00:12:00.480> is<00:12:01.440> the<00:12:01.680> real 00:12:01.910 --> 00:12:01.920 align:start position:0% what I think is the the is the real 00:12:01.920 --> 00:12:07.310 align:start position:0% what I think is the the is the real power<00:12:02.130> of<00:12:02.400> smart<00:12:02.610> contracts<00:12:03.740> and<00:12:04.740> so<00:12:05.580> I<00:12:06.320> think 00:12:07.310 --> 00:12:07.320 align:start position:0% power of smart contracts and so I think 00:12:07.320 --> 00:12:09.079 align:start position:0% power of smart contracts and so I think we've<00:12:07.620> seen<00:12:07.860> this<00:12:08.040> in<00:12:08.220> a<00:12:08.279> bunch<00:12:08.459> of<00:12:08.580> places<00:12:08.970> and 00:12:09.079 --> 00:12:09.089 align:start position:0% we've seen this in a bunch of places and 00:12:09.089 --> 00:12:10.670 align:start position:0% we've seen this in a bunch of places and I<00:12:09.180> think<00:12:09.209> that<00:12:09.540> this<00:12:09.660> is<00:12:09.870> going<00:12:10.200> to<00:12:10.410> be<00:12:10.529> the 00:12:10.670 --> 00:12:10.680 align:start position:0% I think that this is going to be the 00:12:10.680 --> 00:12:13.370 align:start position:0% I think that this is going to be the story<00:12:10.890> of<00:12:11.330> smart<00:12:12.330> contract<00:12:12.720> platforms<00:12:13.200> in<00:12:13.320> the 00:12:13.370 --> 00:12:13.380 align:start position:0% story of smart contract platforms in the 00:12:13.380 --> 00:12:16.610 align:start position:0% story of smart contract platforms in the future<00:12:13.680> if<00:12:13.800> we<00:12:13.980> let<00:12:14.160> it<00:12:14.540> but<00:12:15.540> I<00:12:15.810> get<00:12:16.410> real 00:12:16.610 --> 00:12:16.620 align:start position:0% future if we let it but I get real 00:12:16.620 --> 00:12:19.070 align:start position:0% future if we let it but I get real worried<00:12:17.100> because<00:12:17.459> I<00:12:18.060> fear<00:12:18.690> that<00:12:18.720> if 00:12:19.070 --> 00:12:19.080 align:start position:0% worried because I fear that if 00:12:19.080 --> 00:12:21.410 align:start position:0% worried because I fear that if composability<00:12:19.830> is<00:12:20.310> the<00:12:20.850> super<00:12:21.120> power<00:12:21.300> of 00:12:21.410 --> 00:12:21.420 align:start position:0% composability is the super power of 00:12:21.420 --> 00:12:23.180 align:start position:0% composability is the super power of blockchain<00:12:21.930> that<00:12:22.500> sharding<00:12:22.980> and<00:12:23.070> in 00:12:23.180 --> 00:12:23.190 align:start position:0% blockchain that sharding and in 00:12:23.190 --> 00:12:25.220 align:start position:0% blockchain that sharding and in particular<00:12:23.459> asynchronous<00:12:24.360> forcing 00:12:25.220 --> 00:12:25.230 align:start position:0% particular asynchronous forcing 00:12:25.230 --> 00:12:26.630 align:start position:0% particular asynchronous forcing asynchronous<00:12:25.770> communications<00:12:26.400> between 00:12:26.630 --> 00:12:26.640 align:start position:0% asynchronous communications between 00:12:26.640 --> 00:12:29.980 align:start position:0% asynchronous communications between smart<00:12:27.089> contracts<00:12:27.829> could<00:12:28.829> be<00:12:28.980> its<00:12:29.550> kryptonite 00:12:29.980 --> 00:12:29.990 align:start position:0% smart contracts could be its kryptonite 00:12:29.990 --> 00:12:31.740 align:start position:0% smart contracts could be its kryptonite thank<00:12:30.990> you 00:12:31.740 --> 00:12:31.750 align:start position:0% thank you 00:12:31.750 --> 00:12:32.610 align:start position:0% thank you you 00:12:32.610 --> 00:12:32.620 align:start position:0% you 00:12:32.620 --> 00:12:43.070 align:start position:0% you [Applause] 00:12:43.070 --> 00:12:43.080 align:start position:0% 00:12:43.080 --> 00:12:45.140 align:start position:0% you