WEBVTT Kind: captions Language: en 00:00:00.030 --> 00:00:01.659 align:start position:0% right<00:00:00.390> so<00:00:00.690> I'm<00:00:00.870> gonna<00:00:00.989> be<00:00:01.170> talking<00:00:01.500> about 00:00:01.659 --> 00:00:01.669 align:start position:0% right so I'm gonna be talking about 00:00:01.669 --> 00:00:04.999 align:start position:0% right so I'm gonna be talking about counterfactual<00:00:03.440> it's<00:00:04.440> an<00:00:04.560> open<00:00:04.799> source 00:00:04.999 --> 00:00:05.009 align:start position:0% counterfactual it's an open source 00:00:05.009 --> 00:00:06.650 align:start position:0% counterfactual it's an open source initiative<00:00:05.490> to<00:00:05.670> make<00:00:05.790> secure<00:00:06.180> off<00:00:06.390> key<00:00:06.540> nap 00:00:06.650 --> 00:00:06.660 align:start position:0% initiative to make secure off key nap 00:00:06.660 --> 00:00:08.750 align:start position:0% initiative to make secure off key nap occasions<00:00:07.080> easy<00:00:07.290> to<00:00:07.440> build<00:00:07.560> in<00:00:07.770> aetherium<00:00:08.220> so 00:00:08.750 --> 00:00:08.760 align:start position:0% occasions easy to build in aetherium so 00:00:08.760 --> 00:00:10.730 align:start position:0% occasions easy to build in aetherium so you<00:00:08.820> just<00:00:09.030> saw<00:00:09.179> two<00:00:09.480> talks<00:00:09.750> about<00:00:10.110> building<00:00:10.710> a 00:00:10.730 --> 00:00:10.740 align:start position:0% you just saw two talks about building a 00:00:10.740 --> 00:00:11.780 align:start position:0% you just saw two talks about building a payment<00:00:11.040> channel<00:00:11.190> network<00:00:11.460> and<00:00:11.639> about 00:00:11.780 --> 00:00:11.790 align:start position:0% payment channel network and about 00:00:11.790 --> 00:00:13.339 align:start position:0% payment channel network and about building<00:00:12.090> like<00:00:12.210> a<00:00:12.269> production<00:00:12.509> application 00:00:13.339 --> 00:00:13.349 align:start position:0% building like a production application 00:00:13.349 --> 00:00:16.250 align:start position:0% building like a production application specific<00:00:13.710> state<00:00:13.920> channel<00:00:14.690> casino<00:00:15.690> game<00:00:15.900> kind 00:00:16.250 --> 00:00:16.260 align:start position:0% specific state channel casino game kind 00:00:16.260 --> 00:00:18.859 align:start position:0% specific state channel casino game kind of<00:00:16.369> application<00:00:17.369> we<00:00:18.180> want<00:00:18.390> to<00:00:18.480> try<00:00:18.630> and<00:00:18.720> make 00:00:18.859 --> 00:00:18.869 align:start position:0% of application we want to try and make 00:00:18.869 --> 00:00:20.960 align:start position:0% of application we want to try and make those<00:00:19.109> types<00:00:19.439> of<00:00:19.680> things<00:00:19.920> as<00:00:20.189> easy<00:00:20.820> as 00:00:20.960 --> 00:00:20.970 align:start position:0% those types of things as easy as 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kind of developer that<00:00:26.910> we<00:00:27.000> want<00:00:27.119> to<00:00:27.180> like<00:00:27.300> help<00:00:27.869> make<00:00:28.019> their 00:00:28.130 --> 00:00:28.140 align:start position:0% that we want to like help make their 00:00:28.140 --> 00:00:29.330 align:start position:0% that we want to like help make their life<00:00:28.289> easier<00:00:28.380> and<00:00:28.650> the<00:00:28.710> whole<00:00:28.830> funfair<00:00:29.160> team 00:00:29.330 --> 00:00:29.340 align:start position:0% life easier and the whole funfair team 00:00:29.340 --> 00:00:32.720 align:start position:0% life easier and the whole funfair team in<00:00:29.460> front<00:00:29.640> of<00:00:29.699> me<00:00:29.840> so<00:00:30.840> first<00:00:31.380> of<00:00:31.500> all<00:00:31.619> who<00:00:32.489> am<00:00:32.640> i 00:00:32.720 --> 00:00:32.730 align:start position:0% in front of me so first of all who am i 00:00:32.730 --> 00:00:34.729 align:start position:0% in front of me so first of all who am i my<00:00:33.030> name<00:00:33.180> is<00:00:33.300> liam<00:00:33.540> horn<00:00:33.809> i<00:00:34.020> am<00:00:34.260> the<00:00:34.469> co-founder 00:00:34.729 --> 00:00:34.739 align:start position:0% my name is liam horn i am the co-founder 00:00:34.739 --> 00:00:37.940 align:start position:0% my name is liam horn i am the co-founder or<00:00:35.489> one<00:00:35.670> of<00:00:35.790> the<00:00:35.850> cofounders<00:00:36.000> of<00:00:36.300> l4<00:00:36.920> we're<00:00:37.920> a 00:00:37.940 --> 00:00:37.950 align:start position:0% or one of the cofounders of l4 we're a 00:00:37.950 --> 00:00:39.410 align:start position:0% or one of the cofounders of l4 we're a company<00:00:38.190> that<00:00:38.399> tried<00:00:38.700> to<00:00:38.730> do<00:00:38.879> a<00:00:38.910> lot<00:00:39.120> in<00:00:39.180> this 00:00:39.410 --> 00:00:39.420 align:start position:0% company that tried to do a lot in this 00:00:39.420 --> 00:00:41.750 align:start position:0% company that tried to do a lot in this industry<00:00:39.860> basically<00:00:40.860> promoting<00:00:41.460> kind<00:00:41.640> of<00:00:41.700> the 00:00:41.750 --> 00:00:41.760 align:start position:0% industry basically promoting kind of the 00:00:41.760 --> 00:00:44.000 align:start position:0% industry basically promoting kind of the web<00:00:41.879> 3<00:00:42.090> vision<00:00:42.559> we<00:00:43.559> helped<00:00:43.739> build<00:00:43.920> this 00:00:44.000 --> 00:00:44.010 align:start position:0% web 3 vision we helped build this 00:00:44.010 --> 00:00:46.010 align:start position:0% web 3 vision we helped build this project<00:00:44.219> we<00:00:44.550> helped<00:00:44.730> build<00:00:44.969> eath<00:00:45.360> global<00:00:45.809> and 00:00:46.010 --> 00:00:46.020 align:start position:0% project we helped build eath global and 00:00:46.020 --> 00:00:48.170 align:start position:0% project we helped build eath global and a<00:00:46.200> handful<00:00:46.469> of<00:00:46.530> other<00:00:46.680> initiatives<00:00:47.059> but<00:00:48.059> I'm 00:00:48.170 --> 00:00:48.180 align:start position:0% a handful of other initiatives but I'm 00:00:48.180 --> 00:00:49.970 align:start position:0% a handful of other initiatives but I'm also<00:00:48.390> an<00:00:48.870> engineer<00:00:49.469> in<00:00:49.559> the<00:00:49.649> counterfactual 00:00:49.970 --> 00:00:49.980 align:start position:0% also an engineer in the counterfactual 00:00:49.980 --> 00:00:52.310 align:start position:0% also an engineer in the counterfactual project<00:00:50.640> the<00:00:51.000> distinction<00:00:51.390> for<00:00:51.719> which<00:00:51.840> has 00:00:52.310 --> 00:00:52.320 align:start position:0% project the distinction for which has 00:00:52.320 --> 00:00:53.900 align:start position:0% project the distinction for which has not<00:00:52.469> yet<00:00:52.530> been<00:00:52.680> so<00:00:53.039> clear<00:00:53.370> but<00:00:53.520> I'm<00:00:53.640> gonna<00:00:53.760> try 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four things basically what are 00:01:00.210 --> 00:01:01.580 align:start position:0% through four things basically what are generalized<00:01:00.629> eight<00:01:00.809> channels<00:01:01.140> you<00:01:01.260> just<00:01:01.440> saw 00:01:01.580 --> 00:01:01.590 align:start position:0% generalized eight channels you just saw 00:01:01.590 --> 00:01:03.020 align:start position:0% generalized eight channels you just saw use<00:01:01.829> cases<00:01:02.190> of<00:01:02.309> payment<00:01:02.609> channels<00:01:02.879> and<00:01:02.969> you 00:01:03.020 --> 00:01:03.030 align:start position:0% use cases of payment channels and you 00:01:03.030 --> 00:01:05.060 align:start position:0% use cases of payment channels and you saw<00:01:03.180> use<00:01:03.329> case<00:01:03.510> of<00:01:03.690> what<00:01:04.320> I'm<00:01:04.409> gonna<00:01:04.589> kind<00:01:05.010> of 00:01:05.060 --> 00:01:05.070 align:start position:0% saw use case of what I'm gonna kind of 00:01:05.070 --> 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solution<00:01:10.860> for<00:01:11.040> the<00:01:11.130> that<00:01:11.880> uses<00:01:12.240> this 00:01:12.320 --> 00:01:12.330 align:start position:0% solution for the that uses this 00:01:12.330 --> 00:01:14.600 align:start position:0% solution for the that uses this technique<00:01:12.689> in<00:01:12.900> general<00:01:13.799> for<00:01:14.100> blockchain 00:01:14.600 --> 00:01:14.610 align:start position:0% technique in general for blockchain 00:01:14.610 --> 00:01:16.550 align:start position:0% technique in general for blockchain transactions<00:01:15.240> what<00:01:15.960> counterfactual<00:01:16.500> the 00:01:16.550 --> 00:01:16.560 align:start position:0% transactions what counterfactual the 00:01:16.560 --> 00:01:18.440 align:start position:0% transactions what counterfactual the project<00:01:16.950> is<00:01:17.130> and<00:01:17.790> explain<00:01:18.180> how<00:01:18.299> we've 00:01:18.440 --> 00:01:18.450 align:start position:0% project is and explain how we've 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channels<00:01:27.360> the<00:01:27.450> engineering 00:01:27.859 --> 00:01:27.869 align:start position:0% generalized a channels the engineering 00:01:27.869 --> 00:01:30.880 align:start position:0% generalized a channels the engineering and<00:01:28.070> counterfactual<00:01:29.070> so<00:01:29.250> let's<00:01:30.119> jump<00:01:30.390> in 00:01:30.880 --> 00:01:30.890 align:start position:0% and counterfactual so let's jump in 00:01:30.890 --> 00:01:34.399 align:start position:0% and counterfactual so let's jump in initially<00:01:31.890> when<00:01:32.729> I<00:01:33.119> kind<00:01:33.689> of<00:01:33.720> first<00:01:33.990> came<00:01:34.259> into 00:01:34.399 --> 00:01:34.409 align:start position:0% initially when I kind of first came into 00:01:34.409 --> 00:01:36.920 align:start position:0% initially when I kind of first came into this<00:01:34.590> space<00:01:34.860> I<00:01:35.240> asked<00:01:36.240> the<00:01:36.299> question<00:01:36.689> of<00:01:36.750> like 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is<00:01:55.829> it<00:01:56.070> not 00:01:56.149 --> 00:01:56.159 align:start position:0% basically was wondering why is it not 00:01:56.159 --> 00:01:57.560 align:start position:0% basically was wondering why is it not the<00:01:56.310> case<00:01:56.490> that<00:01:56.549> anyone's<00:01:56.969> really<00:01:57.149> tackling 00:01:57.560 --> 00:01:57.570 align:start position:0% the case that anyone's really tackling 00:01:57.570 --> 00:01:59.959 align:start position:0% the case that anyone's really tackling this<00:01:57.750> not<00:01:57.960> necessarily<00:01:58.049> as<00:01:58.560> an<00:01:58.770> app<00:01:59.340> specific 00:01:59.959 --> 00:01:59.969 align:start position:0% this not necessarily as an app specific 00:01:59.969 --> 00:02:01.340 align:start position:0% this not necessarily as an app specific technique<00:02:00.329> you<00:02:00.479> can<00:02:00.659> do<00:02:00.750> to<00:02:00.869> make<00:02:00.990> your<00:02:01.110> app<00:02:01.200> go 00:02:01.340 --> 00:02:01.350 align:start position:0% technique you can do to make your app go 00:02:01.350 --> 00:02:03.819 align:start position:0% technique you can do to make your app go faster<00:02:01.710> but<00:02:02.280> as<00:02:02.399> a<00:02:02.430> general<00:02:02.850> -<00:02:03.030> general 00:02:03.819 --> 00:02:03.829 align:start position:0% faster but as a general - general 00:02:03.829 --> 00:02:06.350 align:start position:0% faster but as a general - general solution<00:02:04.829> for<00:02:05.009> scaling<00:02:05.700> on<00:02:05.790> aetherium<00:02:06.180> why<00:02:06.270> is 00:02:06.350 --> 00:02:06.360 align:start position:0% solution for scaling on aetherium why is 00:02:06.360 --> 00:02:07.550 align:start position:0% solution for scaling on aetherium why is it<00:02:06.450> not<00:02:06.540> the<00:02:06.630> case<00:02:06.780> that<00:02:06.840> anyone<00:02:07.170> that<00:02:07.409> wants 00:02:07.550 --> 00:02:07.560 align:start position:0% it not the case that anyone that wants 00:02:07.560 --> 00:02:09.080 align:start position:0% it not the case that anyone that wants to<00:02:07.590> build<00:02:07.710> an<00:02:07.829> application<00:02:07.950> can<00:02:08.640> take 00:02:09.080 --> 00:02:09.090 align:start position:0% to build an application can take 00:02:09.090 --> 00:02:10.699 align:start position:0% to build an application can take advantage<00:02:09.479> of<00:02:09.599> this<00:02:09.690> technique<00:02:10.050> to<00:02:10.560> make 00:02:10.699 --> 00:02:10.709 align:start position:0% advantage of this technique to make 00:02:10.709 --> 00:02:12.260 align:start position:0% advantage of this technique to make their<00:02:10.860> application<00:02:11.310> just<00:02:11.459> by<00:02:11.819> default<00:02:12.180> be 00:02:12.260 --> 00:02:12.270 align:start position:0% their application just by default be 00:02:12.270 --> 00:02:13.280 align:start position:0% their application just by default be really<00:02:12.480> fast 00:02:13.280 --> 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had<00:02:26.400> been<00:02:26.549> there<00:02:26.700> yet<00:02:26.909> and 00:02:27.050 --> 00:02:27.060 align:start position:0% implementation had been there yet and 00:02:27.060 --> 00:02:30.470 align:start position:0% implementation had been there yet and kind<00:02:27.540> of<00:02:27.599> wondered<00:02:27.900> why<00:02:28.670> after<00:02:29.670> lots<00:02:30.030> of<00:02:30.269> like 00:02:30.470 --> 00:02:30.480 align:start position:0% kind of wondered why after lots of like 00:02:30.480 --> 00:02:33.319 align:start position:0% kind of wondered why after lots of like thought<00:02:30.780> and<00:02:31.109> and<00:02:31.799> research<00:02:32.250> we<00:02:32.909> basically 00:02:33.319 --> 00:02:33.329 align:start position:0% thought and and research we basically 00:02:33.329 --> 00:02:35.300 align:start position:0% thought and and research we basically realized<00:02:33.780> that<00:02:34.019> you<00:02:34.379> know<00:02:34.470> this<00:02:35.040> is<00:02:35.220> an 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align:start position:0% very much with the mindset of like I 00:02:41.579 --> 00:02:43.569 align:start position:0% very much with the mindset of like I mentioned<00:02:42.000> how<00:02:42.239> do<00:02:42.299> you<00:02:42.450> build<00:02:42.599> a<00:02:42.870> layer<00:02:43.109> to 00:02:43.569 --> 00:02:43.579 align:start position:0% mentioned how do you build a layer to 00:02:43.579 --> 00:02:45.140 align:start position:0% mentioned how do you build a layer to scalability<00:02:44.579> solution<00:02:44.849> using<00:02:45.060> this 00:02:45.140 --> 00:02:45.150 align:start position:0% scalability solution using this 00:02:45.150 --> 00:02:46.789 align:start position:0% scalability solution using this technique<00:02:45.420> generalize<00:02:45.989> enough<00:02:46.379> to<00:02:46.590> allow<00:02:46.769> for 00:02:46.789 --> 00:02:46.799 align:start position:0% technique generalize enough to allow for 00:02:46.799 --> 00:02:49.399 align:start position:0% technique generalize enough to allow for arbitrary<00:02:47.340> applications<00:02:47.970> with<00:02:48.750> maximum<00:02:49.260> off 00:02:49.399 --> 00:02:49.409 align:start position:0% arbitrary applications with maximum off 00:02:49.409 --> 00:02:51.830 align:start position:0% arbitrary applications with maximum off chain<00:02:49.739> interactions<00:02:50.549> without<00:02:51.269> necessarily 00:02:51.830 --> 00:02:51.840 align:start position:0% chain interactions without necessarily 00:02:51.840 --> 00:02:54.470 align:start position:0% chain interactions without necessarily having<00:02:51.989> to<00:02:52.379> build<00:02:52.500> it<00:02:52.680> as<00:02:52.739> a<00:02:52.769> one-off<00:02:53.329> kind<00:02:54.329> of 00:02:54.470 --> 00:02:54.480 align:start position:0% having to build it as a one-off kind of 00:02:54.480 --> 00:02:55.640 align:start position:0% having to build it as a one-off kind of implementation<00:02:55.139> technique<00:02:55.439> for<00:02:55.560> your 00:02:55.640 --> 00:02:55.650 align:start position:0% implementation technique for your 00:02:55.650 --> 00:02:58.069 align:start position:0% implementation technique for your particular<00:02:55.919> application<00:02:56.629> so<00:02:57.629> we<00:02:57.720> started<00:02:57.989> off 00:02:58.069 --> 00:02:58.079 align:start position:0% particular application so we started off 00:02:58.079 --> 00:03:00.319 align:start position:0% particular application so we started off by<00:02:58.109> writing<00:02:58.349> this<00:02:58.560> paper<00:02:58.819> which<00:02:59.819> is<00:02:59.939> basically 00:03:00.319 --> 00:03:00.329 align:start position:0% by writing this paper which is basically 00:03:00.329 --> 00:03:04.640 align:start position:0% by writing this paper which is basically the<00:03:01.040> the<00:03:02.040> formal<00:03:02.639> version<00:03:03.599> of<00:03:03.989> the<00:03:04.169> the<00:03:04.200> post 00:03:04.640 --> 00:03:04.650 align:start position:0% the the formal version of the the post 00:03:04.650 --> 00:03:06.559 align:start position:0% the the formal version of the the post that<00:03:04.859> Jeff<00:03:05.010> had<00:03:05.129> put<00:03:05.310> on<00:03:05.459> it<00:03:05.849> goes<00:03:06.030> in<00:03:06.150> a<00:03:06.239> ton<00:03:06.540> of 00:03:06.559 --> 00:03:06.569 align:start position:0% that Jeff had put on it goes in a ton of 00:03:06.569 --> 00:03:08.629 align:start position:0% that Jeff had put on it goes in a ton of depth<00:03:07.049> of<00:03:07.290> how<00:03:07.409> you<00:03:07.470> can<00:03:07.769> do<00:03:07.889> this<00:03:08.069> what<00:03:08.609> are 00:03:08.629 --> 00:03:08.639 align:start position:0% depth of how you can do this what are 00:03:08.639 --> 00:03:09.979 align:start position:0% depth of how you can do this what are the<00:03:08.760> security<00:03:08.970> models<00:03:09.389> need<00:03:09.450> to<00:03:09.569> be<00:03:09.629> thinking 00:03:09.979 --> 00:03:09.989 align:start position:0% the security models need to be thinking 00:03:09.989 --> 00:03:11.809 align:start position:0% the security models need to be thinking about<00:03:10.079> what<00:03:10.889> are<00:03:10.980> the<00:03:11.069> general<00:03:11.549> parameters 00:03:11.809 --> 00:03:11.819 align:start position:0% about what are the general parameters 00:03:11.819 --> 00:03:13.369 align:start position:0% about what are the general parameters you<00:03:12.209> want<00:03:12.329> to<00:03:12.450> be<00:03:12.510> aiming<00:03:12.780> for<00:03:12.810> how<00:03:13.109> can<00:03:13.260> you 00:03:13.369 --> 00:03:13.379 align:start position:0% you want to be aiming for how can you 00:03:13.379 --> 00:03:17.210 align:start position:0% you want to be aiming for how can you maximally<00:03:14.040> have<00:03:14.959> oft<00:03:15.959> interactions<00:03:16.799> using 00:03:17.210 --> 00:03:17.220 align:start position:0% maximally have oft interactions using 00:03:17.220 --> 00:03:18.830 align:start position:0% maximally have oft interactions using state<00:03:17.519> channels<00:03:17.849> for<00:03:18.030> any<00:03:18.150> application<00:03:18.690> a 00:03:18.830 --> 00:03:18.840 align:start position:0% state channels for any application a 00:03:18.840 --> 00:03:20.509 align:start position:0% state channels for any application a very<00:03:19.199> abstract<00:03:19.379> kind<00:03:19.739> of<00:03:19.799> notion<00:03:20.159> but<00:03:20.340> one 00:03:20.509 --> 00:03:20.519 align:start position:0% very abstract kind of notion but one 00:03:20.519 --> 00:03:22.819 align:start position:0% very abstract kind of notion but one that<00:03:20.669> if<00:03:20.790> you<00:03:20.879> can<00:03:21.060> get<00:03:21.209> right<00:03:21.389> enables<00:03:22.169> an 00:03:22.819 --> 00:03:22.829 align:start position:0% that if you can get right enables an 00:03:22.829 --> 00:03:24.289 align:start position:0% that if you can get right enables an enormous<00:03:23.280> leap<00:03:23.430> our<00:03:23.609> full<00:03:23.760> tech<00:03:23.909> need<00:03:24.060> to<00:03:24.180> be 00:03:24.289 --> 00:03:24.299 align:start position:0% enormous leap our full tech need to be 00:03:24.299 --> 00:03:25.969 align:start position:0% enormous leap our full tech need to be used<00:03:24.449> and<00:03:24.540> I'll<00:03:24.720> show<00:03:24.870> you<00:03:24.930> how<00:03:25.169> it's<00:03:25.319> how<00:03:25.799> it's 00:03:25.969 --> 00:03:25.979 align:start position:0% used and I'll show you how it's how it's 00:03:25.979 --> 00:03:30.619 align:start position:0% used and I'll show you how it's how it's useful<00:03:26.629> so<00:03:28.069> there's<00:03:29.069> a<00:03:29.159> long<00:03:29.340> paper<00:03:29.609> but<00:03:30.540> it 00:03:30.619 --> 00:03:30.629 align:start position:0% useful so there's a long paper but it 00:03:30.629 --> 00:03:32.449 align:start position:0% useful so there's a long paper but it basically<00:03:30.900> summarizes<00:03:31.229> into<00:03:32.099> some<00:03:32.250> very 00:03:32.449 --> 00:03:32.459 align:start position:0% basically summarizes into some very 00:03:32.459 --> 00:03:34.699 align:start position:0% basically summarizes into some very simple<00:03:32.849> a<00:03:33.269> very<00:03:33.479> simple<00:03:34.049> idea<00:03:34.139> and<00:03:34.440> so<00:03:34.620> I'm 00:03:34.699 --> 00:03:34.709 align:start position:0% simple a very simple idea and so I'm 00:03:34.709 --> 00:03:36.890 align:start position:0% simple a very simple idea and so I'm gonna<00:03:34.829> go<00:03:35.040> through<00:03:35.250> it<00:03:35.340> very<00:03:35.370> very<00:03:35.699> briefly<00:03:36.090> so 00:03:36.890 --> 00:03:36.900 align:start position:0% gonna go through it very very briefly so 00:03:36.900 --> 00:03:38.360 align:start position:0% gonna go through it very very briefly so you<00:03:37.260> already<00:03:37.500> know<00:03:37.680> what<00:03:37.799> payment<00:03:37.979> channels 00:03:38.360 --> 00:03:38.370 align:start position:0% you already know what payment channels 00:03:38.370 --> 00:03:40.580 align:start position:0% you already know what payment channels are<00:03:38.519> but<00:03:38.699> I'm<00:03:38.760> just<00:03:38.849> to<00:03:39.209> set<00:03:39.419> up<00:03:39.569> you<00:03:40.169> you're 00:03:40.580 --> 00:03:40.590 align:start position:0% are but I'm just to set up you you're 00:03:40.590 --> 00:03:42.080 align:start position:0% are but I'm just to set up you you're pretty<00:03:40.769> familiar<00:03:41.220> with<00:03:41.459> this<00:03:41.639> technique<00:03:42.030> you 00:03:42.080 --> 00:03:42.090 align:start position:0% pretty familiar with this technique you 00:03:42.090 --> 00:03:44.030 align:start position:0% pretty familiar with this technique you have<00:03:42.329> a<00:03:42.540> blockchain<00:03:42.810> you<00:03:43.560> put<00:03:43.739> some<00:03:43.919> money 00:03:44.030 --> 00:03:44.040 align:start position:0% have a blockchain you put some money 00:03:44.040 --> 00:03:47.059 align:start position:0% have a blockchain you put some money into<00:03:44.340> a<00:03:44.489> channel<00:03:44.790> a<00:03:45.229> balance<00:03:46.229> be<00:03:46.409> balanced<00:03:46.829> you 00:03:47.059 --> 00:03:47.069 align:start position:0% into a channel a balance be balanced you 00:03:47.069 --> 00:03:49.610 align:start position:0% into a channel a balance be balanced you wait<00:03:47.220> some<00:03:47.430> time<00:03:47.459> off<00:03:47.970> chain<00:03:48.720> Alice<00:03:49.319> and<00:03:49.470> Bob 00:03:49.610 --> 00:03:49.620 align:start position:0% wait some time off chain Alice and Bob 00:03:49.620 --> 00:03:52.250 align:start position:0% wait some time off chain Alice and Bob move<00:03:50.340> basically<00:03:51.239> over<00:03:51.599> some<00:03:51.750> communication 00:03:52.250 --> 00:03:52.260 align:start position:0% move basically over some communication 00:03:52.260 --> 00:03:54.319 align:start position:0% move basically over some communication protocol<00:03:52.620> they<00:03:52.739> update<00:03:53.040> some<00:03:53.329> balances 00:03:54.319 --> 00:03:54.329 align:start position:0% protocol they update some balances 00:03:54.329 --> 00:03:56.750 align:start position:0% protocol they update some balances between<00:03:54.510> them<00:03:54.900> you<00:03:55.349> know<00:03:55.440> from<00:03:55.859> version<00:03:56.040> 0<00:03:56.370> all 00:03:56.750 --> 00:03:56.760 align:start position:0% between them you know from version 0 all 00:03:56.760 --> 00:03:59.360 align:start position:0% between them you know from version 0 all the<00:03:56.879> way<00:03:56.970> up<00:03:57.120> to<00:03:57.359> 2<00:03:57.900> n<00:03:58.049> basically<00:03:58.530> and<00:03:58.859> then 00:03:59.360 --> 00:03:59.370 align:start position:0% the way up to 2 n basically and then 00:03:59.370 --> 00:04:00.740 align:start position:0% the way up to 2 n basically and then whenever<00:03:59.519> they're<00:03:59.790> done<00:03:59.970> they<00:04:00.329> go<00:04:00.510> back<00:04:00.659> to 00:04:00.740 --> 00:04:00.750 align:start position:0% whenever they're done they go back to 00:04:00.750 --> 00:04:03.229 align:start position:0% whenever they're done they go back to the<00:04:00.870> chain<00:04:01.079> they<00:04:01.829> put<00:04:02.459> that<00:04:02.639> latest<00:04:02.909> date<00:04:03.090> on 00:04:03.229 --> 00:04:03.239 align:start position:0% the chain they put that latest date on 00:04:03.239 --> 00:04:04.610 align:start position:0% the chain they put that latest date on and<00:04:03.479> the<00:04:03.689> balances<00:04:04.109> would<00:04:04.199> get<00:04:04.319> paid<00:04:04.470> out 00:04:04.610 --> 00:04:04.620 align:start position:0% and the balances would get paid out 00:04:04.620 --> 00:04:07.550 align:start position:0% and the balances would get paid out we're<00:04:05.430> familiar<00:04:05.609> with<00:04:05.879> that<00:04:05.970> here<00:04:06.209> and<00:04:07.199> so 00:04:07.550 --> 00:04:07.560 align:start position:0% we're familiar with that here and so 00:04:07.560 --> 00:04:09.289 align:start position:0% we're familiar with that here and so that's<00:04:08.129> a<00:04:08.280> payment<00:04:08.609> channel<00:04:08.879> so<00:04:09.060> what's<00:04:09.209> an 00:04:09.289 --> 00:04:09.299 align:start position:0% that's a payment channel so what's an 00:04:09.299 --> 00:04:10.819 align:start position:0% that's a payment channel so what's an app<00:04:09.449> specific<00:04:09.959> stage<00:04:10.139> Jim<00:04:10.290> what's<00:04:10.650> fun<00:04:10.799> for 00:04:10.819 --> 00:04:10.829 align:start position:0% app specific stage Jim what's fun for 00:04:10.829 --> 00:04:13.670 align:start position:0% app specific stage Jim what's fun for doing<00:04:11.189> it's<00:04:11.669> a<00:04:11.729> very<00:04:12.090> similar<00:04:12.560> but<00:04:13.560> what 00:04:13.670 --> 00:04:13.680 align:start position:0% doing it's a very similar but what 00:04:13.680 --> 00:04:14.990 align:start position:0% doing it's a very similar but what they're<00:04:13.889> doing<00:04:14.250> is<00:04:14.400> that<00:04:14.430> they<00:04:14.819> have 00:04:14.990 --> 00:04:15.000 align:start position:0% they're doing is that they have 00:04:15.000 --> 00:04:16.490 align:start position:0% they're doing is that they have arbitrary<00:04:15.659> state<00:04:15.840> they<00:04:16.049> have<00:04:16.169> different 00:04:16.490 --> 00:04:16.500 align:start position:0% arbitrary state they have different 00:04:16.500 --> 00:04:18.319 align:start position:0% arbitrary state they have different state<00:04:16.739> for<00:04:17.310> application<00:04:17.909> whether<00:04:18.090> it's 00:04:18.319 --> 00:04:18.329 align:start position:0% state for application whether it's 00:04:18.329 --> 00:04:19.610 align:start position:0% state for application whether it's roulette<00:04:18.690> or<00:04:18.810> blackjack<00:04:19.019> or<00:04:19.320> whatever<00:04:19.500> they 00:04:19.610 --> 00:04:19.620 align:start position:0% roulette or blackjack or whatever they 00:04:19.620 --> 00:04:21.740 align:start position:0% roulette or blackjack or whatever they might<00:04:19.769> be<00:04:19.859> playing<00:04:20.039> and<00:04:21.000> they<00:04:21.539> have<00:04:21.659> this 00:04:21.740 --> 00:04:21.750 align:start position:0% might be playing and they have this 00:04:21.750 --> 00:04:23.570 align:start position:0% might be playing and they have this added<00:04:21.989> thing<00:04:22.380> on<00:04:22.560> the<00:04:22.860> chain<00:04:23.070> which<00:04:23.279> is<00:04:23.310> they 00:04:23.570 --> 00:04:23.580 align:start position:0% added thing on the chain which is they 00:04:23.580 --> 00:04:25.620 align:start position:0% added thing on the chain which is they have<00:04:23.669> the<00:04:23.880> application<00:04:24.539> logic<00:04:24.690> to 00:04:25.620 --> 00:04:25.630 align:start position:0% have the application logic to 00:04:25.630 --> 00:04:28.980 align:start position:0% have the application logic to you<00:04:25.690> handle<00:04:26.290> disputes<00:04:27.250> essentially<00:04:27.970> or<00:04:28.480> cases 00:04:28.980 --> 00:04:28.990 align:start position:0% you handle disputes essentially or cases 00:04:28.990 --> 00:04:30.150 align:start position:0% you handle disputes essentially or cases where<00:04:29.020> someone's<00:04:29.560> deviating<00:04:30.010> from<00:04:30.040> the 00:04:30.150 --> 00:04:30.160 align:start position:0% where someone's deviating from the 00:04:30.160 --> 00:04:31.740 align:start position:0% where someone's deviating from the protocol<00:04:30.550> and<00:04:30.700> they<00:04:30.760> need<00:04:30.910> to<00:04:31.030> figure<00:04:31.480> out<00:04:31.630> who 00:04:31.740 --> 00:04:31.750 align:start position:0% protocol and they need to figure out who 00:04:31.750 --> 00:04:32.910 align:start position:0% protocol and they need to figure out who won<00:04:31.930> the<00:04:32.020> game<00:04:32.170> actually<00:04:32.320> that's<00:04:32.740> how<00:04:32.830> they 00:04:32.910 --> 00:04:32.920 align:start position:0% won the game actually that's how they 00:04:32.920 --> 00:04:34.890 align:start position:0% won the game actually that's how they get<00:04:33.040> the<00:04:33.190> approvable<00:04:33.700> fairness<00:04:34.090> it<00:04:34.630> was<00:04:34.750> very 00:04:34.890 --> 00:04:34.900 align:start position:0% get the approvable fairness it was very 00:04:34.900 --> 00:04:37.230 align:start position:0% get the approvable fairness it was very similar<00:04:35.110> in<00:04:35.290> the<00:04:35.380> payment<00:04:35.650> channel<00:04:35.890> so<00:04:36.490> that's 00:04:37.230 --> 00:04:37.240 align:start position:0% similar in the payment channel so that's 00:04:37.240 --> 00:04:39.300 align:start position:0% similar in the payment channel so that's what<00:04:37.930> you<00:04:38.020> can<00:04:38.200> do<00:04:38.350> with<00:04:38.680> application<00:04:39.160> state 00:04:39.300 --> 00:04:39.310 align:start position:0% what you can do with application state 00:04:39.310 --> 00:04:40.530 align:start position:0% what you can do with application state but<00:04:39.430> what's<00:04:39.850> then<00:04:40.060> that<00:04:40.180> what<00:04:40.330> is<00:04:40.450> the 00:04:40.530 --> 00:04:40.540 align:start position:0% but what's then that what is the 00:04:40.540 --> 00:04:42.720 align:start position:0% but what's then that what is the generalized<00:04:41.080> state<00:04:41.230> channel<00:04:41.550> and<00:04:42.550> as<00:04:42.670> I 00:04:42.720 --> 00:04:42.730 align:start position:0% generalized state channel and as I 00:04:42.730 --> 00:04:43.770 align:start position:0% generalized state channel and as I mentioned<00:04:42.970> you<00:04:43.030> have<00:04:43.120> the<00:04:43.150> application<00:04:43.690> logic 00:04:43.770 --> 00:04:43.780 align:start position:0% mentioned you have the application logic 00:04:43.780 --> 00:04:45.450 align:start position:0% mentioned you have the application logic but<00:04:44.350> what<00:04:44.470> is<00:04:44.560> the<00:04:44.620> generalized<00:04:45.010> a<00:04:45.130> channel 00:04:45.450 --> 00:04:45.460 align:start position:0% but what is the generalized a channel 00:04:45.460 --> 00:04:46.980 align:start position:0% but what is the generalized a channel and<00:04:45.610> general<00:04:46.330> I<00:04:46.390> say<00:04:46.540> channel<00:04:46.780> you<00:04:46.840> have<00:04:46.930> the 00:04:46.980 --> 00:04:46.990 align:start position:0% and general I say channel you have the 00:04:46.990 --> 00:04:50.100 align:start position:0% and general I say channel you have the same<00:04:47.170> set<00:04:47.410> up<00:04:47.580> blockchain<00:04:48.580> contract<00:04:49.420> you<00:04:49.840> put 00:04:50.100 --> 00:04:50.110 align:start position:0% same set up blockchain contract you put 00:04:50.110 --> 00:04:53.160 align:start position:0% same set up blockchain contract you put some<00:04:50.580> deposit<00:04:51.580> in<00:04:51.700> there<00:04:51.910> and<00:04:52.030> again<00:04:52.210> EEOC<00:04:52.720> xx 00:04:53.160 --> 00:04:53.170 align:start position:0% some deposit in there and again EEOC xx 00:04:53.170 --> 00:04:55.170 align:start position:0% some deposit in there and again EEOC xx whatever<00:04:53.440> it<00:04:53.560> is<00:04:53.650> you<00:04:53.830> want<00:04:54.010> to<00:04:54.070> be<00:04:54.190> a<00:04:54.370> using 00:04:55.170 --> 00:04:55.180 align:start position:0% whatever it is you want to be a using 00:04:55.180 --> 00:04:57.090 align:start position:0% whatever it is you want to be a using off<00:04:55.300> chain<00:04:55.570> but<00:04:56.410> you<00:04:56.500> do<00:04:56.620> this<00:04:56.710> interesting 00:04:57.090 --> 00:04:57.100 align:start position:0% off chain but you do this interesting 00:04:57.100 --> 00:04:59.900 align:start position:0% off chain but you do this interesting thing<00:04:57.310> as<00:04:57.490> time<00:04:58.150> goes<00:04:58.330> on<00:04:58.540> you<00:04:58.840> actually 00:04:59.900 --> 00:04:59.910 align:start position:0% thing as time goes on you actually 00:04:59.910 --> 00:05:01.980 align:start position:0% thing as time goes on you actually create<00:05:00.910> for<00:05:01.390> yourself 00:05:01.980 --> 00:05:01.990 align:start position:0% create for yourself 00:05:01.990 --> 00:05:03.360 align:start position:0% create for yourself you're<00:05:02.140> kind<00:05:02.290> of<00:05:02.350> signed<00:05:02.680> transactions<00:05:03.250> that 00:05:03.360 --> 00:05:03.370 align:start position:0% you're kind of signed transactions that 00:05:03.370 --> 00:05:05.880 align:start position:0% you're kind of signed transactions that purport<00:05:03.760> to<00:05:03.900> allocating<00:05:04.900> some<00:05:05.170> subset<00:05:05.770> of 00:05:05.880 --> 00:05:05.890 align:start position:0% purport to allocating some subset of 00:05:05.890 --> 00:05:08.760 align:start position:0% purport to allocating some subset of that<00:05:06.130> state<00:05:06.430> a<00:05:06.670> sub<00:05:07.060> deposit<00:05:07.600> into<00:05:08.230> what<00:05:08.650> we 00:05:08.760 --> 00:05:08.770 align:start position:0% that state a sub deposit into what we 00:05:08.770 --> 00:05:10.670 align:start position:0% that state a sub deposit into what we can<00:05:08.890> call<00:05:09.010> an<00:05:09.130> off<00:05:09.280> chain<00:05:09.520> application<00:05:10.060> and 00:05:10.670 --> 00:05:10.680 align:start position:0% can call an off chain application and 00:05:10.680 --> 00:05:13.260 align:start position:0% can call an off chain application and you<00:05:11.680> do<00:05:11.860> this<00:05:12.040> and<00:05:12.340> very<00:05:12.610> much<00:05:12.820> the<00:05:12.970> same<00:05:13.120> way 00:05:13.260 --> 00:05:13.270 align:start position:0% you do this and very much the same way 00:05:13.270 --> 00:05:14.280 align:start position:0% you do this and very much the same way in<00:05:13.360> the<00:05:13.420> application<00:05:13.840> specific<00:05:14.110> state 00:05:14.280 --> 00:05:14.290 align:start position:0% in the application specific state 00:05:14.290 --> 00:05:16.620 align:start position:0% in the application specific state channel<00:05:14.590> but<00:05:15.190> that's<00:05:15.490> because<00:05:15.970> you<00:05:16.150> can<00:05:16.330> push 00:05:16.620 --> 00:05:16.630 align:start position:0% channel but that's because you can push 00:05:16.630 --> 00:05:19.140 align:start position:0% channel but that's because you can push it<00:05:16.810> down<00:05:16.990> to<00:05:17.440> the<00:05:17.530> application<00:05:18.130> agnostic<00:05:19.120> to 00:05:19.140 --> 00:05:19.150 align:start position:0% it down to the application agnostic to 00:05:19.150 --> 00:05:21.090 align:start position:0% it down to the application agnostic to what's<00:05:19.390> on<00:05:19.540> chain<00:05:19.870> you<00:05:20.620> can<00:05:20.740> do<00:05:20.860> it<00:05:20.950> multiple 00:05:21.090 --> 00:05:21.100 align:start position:0% what's on chain you can do it multiple 00:05:21.100 --> 00:05:24.690 align:start position:0% what's on chain you can do it multiple times<00:05:21.690> so<00:05:22.690> but<00:05:23.290> key<00:05:23.530> benefit<00:05:24.160> is<00:05:24.340> that<00:05:24.460> you<00:05:24.640> can 00:05:24.690 --> 00:05:24.700 align:start position:0% times so but key benefit is that you can 00:05:24.700 --> 00:05:26.640 align:start position:0% times so but key benefit is that you can now<00:05:24.970> install<00:05:25.330> an<00:05:25.720> update<00:05:26.080> and<00:05:26.500> uninstall 00:05:26.640 --> 00:05:26.650 align:start position:0% now install an update and uninstall 00:05:26.650 --> 00:05:29.460 align:start position:0% now install an update and uninstall applications<00:05:27.190> arbitrary<00:05:28.120> applications<00:05:28.750> that 00:05:29.460 --> 00:05:29.470 align:start position:0% applications arbitrary applications that 00:05:29.470 --> 00:05:31.470 align:start position:0% applications arbitrary applications that you<00:05:29.800> would<00:05:29.950> say<00:05:30.160> you<00:05:30.520> know<00:05:30.610> a<00:05:30.640> rule<00:05:30.820> a<00:05:30.940> came<00:05:31.180> at 00:05:31.470 --> 00:05:31.480 align:start position:0% you would say you know a rule a came at 00:05:31.480 --> 00:05:33.870 align:start position:0% you would say you know a rule a came at a<00:05:31.600> plateau<00:05:32.020> you<00:05:32.920> know<00:05:33.040> blackjack<00:05:33.280> payment 00:05:33.870 --> 00:05:33.880 align:start position:0% a plateau you know blackjack payment 00:05:33.880 --> 00:05:37.020 align:start position:0% a plateau you know blackjack payment channel<00:05:34.030> whatever<00:05:34.150> you<00:05:34.360> want<00:05:34.710> in<00:05:35.710> the<00:05:36.010> same<00:05:36.310> on 00:05:37.020 --> 00:05:37.030 align:start position:0% channel whatever you want in the same on 00:05:37.030 --> 00:05:39.210 align:start position:0% channel whatever you want in the same on chain<00:05:37.750> State<00:05:38.380> Channel<00:05:38.590> and<00:05:38.800> this<00:05:38.890> with<00:05:39.130> the 00:05:39.210 --> 00:05:39.220 align:start position:0% chain State Channel and this with the 00:05:39.220 --> 00:05:40.680 align:start position:0% chain State Channel and this with the same<00:05:39.460> single<00:05:39.850> contract<00:05:40.180> on<00:05:40.270> chain<00:05:40.420> you<00:05:40.510> can<00:05:40.600> do 00:05:40.680 --> 00:05:40.690 align:start position:0% same single contract on chain you can do 00:05:40.690 --> 00:05:42.810 align:start position:0% same single contract on chain you can do multiple<00:05:40.960> applications<00:05:41.440> that's<00:05:42.100> the<00:05:42.340> key 00:05:42.810 --> 00:05:42.820 align:start position:0% multiple applications that's the key 00:05:42.820 --> 00:05:44.160 align:start position:0% multiple applications that's the key insight<00:05:43.210> of<00:05:43.330> generalized<00:05:43.720> state<00:05:43.900> channels 00:05:44.160 --> 00:05:44.170 align:start position:0% insight of generalized state channels 00:05:44.170 --> 00:05:45.840 align:start position:0% insight of generalized state channels it's<00:05:44.680> very<00:05:44.860> cool<00:05:45.100> if<00:05:45.310> you<00:05:45.400> do<00:05:45.550> it<00:05:45.670> this<00:05:45.790> way 00:05:45.840 --> 00:05:45.850 align:start position:0% it's very cool if you do it this way 00:05:45.850 --> 00:05:47.820 align:start position:0% it's very cool if you do it this way then<00:05:46.270> it<00:05:46.420> becomes<00:05:46.780> less<00:05:47.020> of<00:05:47.200> a<00:05:47.290> quick 00:05:47.820 --> 00:05:47.830 align:start position:0% then it becomes less of a quick 00:05:47.830 --> 00:05:49.140 align:start position:0% then it becomes less of a quick technique<00:05:48.040> for<00:05:48.340> one<00:05:48.460> app<00:05:48.610> it<00:05:48.790> becomes<00:05:49.060> a 00:05:49.140 --> 00:05:49.150 align:start position:0% technique for one app it becomes a 00:05:49.150 --> 00:05:51.840 align:start position:0% technique for one app it becomes a generalized<00:05:49.710> scalability<00:05:50.710> solution<00:05:51.100> it's 00:05:51.840 --> 00:05:51.850 align:start position:0% generalized scalability solution it's 00:05:51.850 --> 00:05:54.660 align:start position:0% generalized scalability solution it's very<00:05:52.060> powerful<00:05:52.270> and<00:05:52.690> then<00:05:53.380> disputes<00:05:54.190> actually 00:05:54.660 --> 00:05:54.670 align:start position:0% very powerful and then disputes actually 00:05:54.670 --> 00:05:56.610 align:start position:0% very powerful and then disputes actually or<00:05:54.880> deviations<00:05:55.810> from<00:05:55.870> the<00:05:55.990> protocol<00:05:56.350> are<00:05:56.500> very 00:05:56.610 --> 00:05:56.620 align:start position:0% or deviations from the protocol are very 00:05:56.620 --> 00:05:58.380 align:start position:0% or deviations from the protocol are very similar<00:05:57.010> to<00:05:57.400> the<00:05:57.490> application<00:05:57.880> specific<00:05:58.210> case 00:05:58.380 --> 00:05:58.390 align:start position:0% similar to the application specific case 00:05:58.390 --> 00:06:00.390 align:start position:0% similar to the application specific case you<00:05:59.080> just<00:05:59.230> take<00:05:59.380> one<00:05:59.560> of<00:05:59.590> the<00:05:59.800> one<00:06:00.160> of<00:06:00.190> those 00:06:00.390 --> 00:06:00.400 align:start position:0% you just take one of the one of those 00:06:00.400 --> 00:06:02.460 align:start position:0% you just take one of the one of those states<00:06:00.780> whichever<00:06:01.780> one<00:06:01.960> is<00:06:02.110> the<00:06:02.200> one<00:06:02.350> that's 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align:start position:0% put that on chain but the key idea is 00:06:09.730 --> 00:06:11.130 align:start position:0% put that on chain but the key idea is that<00:06:09.820> off<00:06:10.030> chain<00:06:10.390> you're<00:06:10.600> installing<00:06:10.840> in 00:06:11.130 --> 00:06:11.140 align:start position:0% that off chain you're installing in 00:06:11.140 --> 00:06:14.280 align:start position:0% that off chain you're installing in unsealing<00:06:11.470> applications<00:06:12.150> with<00:06:13.150> zero<00:06:13.450> fees 00:06:14.280 --> 00:06:14.290 align:start position:0% unsealing applications with zero fees 00:06:14.290 --> 00:06:17.100 align:start position:0% unsealing applications with zero fees no<00:06:14.860> on<00:06:15.070> chain<00:06:15.310> transactions<00:06:15.880> and<00:06:16.120> and<00:06:16.930> that's 00:06:17.100 --> 00:06:17.110 align:start position:0% no on chain transactions and and that's 00:06:17.110 --> 00:06:20.460 align:start position:0% no on chain transactions and and that's great<00:06:17.320> so<00:06:18.040> two<00:06:19.000> FA<00:06:19.630> cues<00:06:19.930> that<00:06:19.960> I<00:06:20.140> always<00:06:20.260> get 00:06:20.460 --> 00:06:20.470 align:start position:0% great so two FA cues that I always get 00:06:20.470 --> 00:06:22.710 align:start position:0% great so two FA cues that I always get asked<00:06:20.740> one<00:06:21.310> how<00:06:21.940> do<00:06:22.000> you<00:06:22.150> ensure<00:06:22.360> all<00:06:22.480> this<00:06:22.570> sub 00:06:22.710 --> 00:06:22.720 align:start position:0% asked one how do you ensure all this sub 00:06:22.720 --> 00:06:23.850 align:start position:0% asked one how do you ensure all this sub deposits<00:06:23.110> add<00:06:23.200> up<00:06:23.350> isn't<00:06:23.620> this<00:06:23.680> really 00:06:23.850 --> 00:06:23.860 align:start position:0% deposits add up isn't this really 00:06:23.860 --> 00:06:25.020 align:start position:0% deposits add up isn't this really complicated 00:06:25.020 --> 00:06:25.030 align:start position:0% complicated 00:06:25.030 --> 00:06:26.520 align:start position:0% complicated yes<00:06:25.450> it's<00:06:25.630> complicated<00:06:26.170> and<00:06:26.260> that's<00:06:26.320> what 00:06:26.520 --> 00:06:26.530 align:start position:0% yes it's complicated and that's what 00:06:26.530 --> 00:06:30.180 align:start position:0% yes it's complicated and that's what warrants<00:06:27.420> Jeremy<00:06:28.420> rightly<00:06:28.770> mentioned<00:06:29.770> a 00:06:30.180 --> 00:06:30.190 align:start position:0% warrants Jeremy rightly mentioned a 00:06:30.190 --> 00:06:32.820 align:start position:0% warrants Jeremy rightly mentioned a protocol<00:06:31.090> to<00:06:31.240> be<00:06:31.270> defined<00:06:31.690> you<00:06:32.620> need<00:06:32.770> a 00:06:32.820 --> 00:06:32.830 align:start position:0% protocol to be defined you need a 00:06:32.830 --> 00:06:35.159 align:start position:0% protocol to be defined you need a protocol<00:06:33.220> for<00:06:33.840> participants<00:06:34.840> of<00:06:34.960> a<00:06:34.990> state 00:06:35.159 --> 00:06:35.169 align:start position:0% protocol for participants of a state 00:06:35.169 --> 00:06:36.570 align:start position:0% protocol for participants of a state channel<00:06:35.380> to<00:06:35.440> speak<00:06:35.620> to<00:06:35.740> each<00:06:35.800> other<00:06:36.010> to<00:06:36.220> say 00:06:36.570 --> 00:06:36.580 align:start position:0% channel to speak to each other to say 00:06:36.580 --> 00:06:39.210 align:start position:0% channel to speak to each other to say how<00:06:37.419> do<00:06:37.479> you<00:06:37.660> install<00:06:37.960> an<00:06:38.080> application 00:06:39.210 --> 00:06:39.220 align:start position:0% how do you install an application 00:06:39.220 --> 00:06:40.770 align:start position:0% how do you install an application how<00:06:39.280> do<00:06:39.340> we<00:06:39.400> uninstall<00:06:39.850> it<00:06:40.030> what<00:06:40.180> are<00:06:40.270> we<00:06:40.360> what 00:06:40.770 --> 00:06:40.780 align:start position:0% how do we uninstall it what are we what 00:06:40.780 --> 00:06:42.780 align:start position:0% how do we uninstall it what are we what are<00:06:40.870> we<00:06:40.930> saying<00:06:41.170> to<00:06:41.350> each<00:06:41.710> other<00:06:41.890> what<00:06:42.640> are<00:06:42.730> the 00:06:42.780 --> 00:06:42.790 align:start position:0% are we saying to each other what are the 00:06:42.790 --> 00:06:43.830 align:start position:0% are we saying to each other what are the specific<00:06:43.180> commitments<00:06:43.480> and<00:06:43.540> that<00:06:43.600> gets<00:06:43.780> a 00:06:43.830 --> 00:06:43.840 align:start position:0% specific commitments and that gets a 00:06:43.840 --> 00:06:44.970 align:start position:0% specific commitments and that gets a little<00:06:43.930> bit<00:06:44.140> complicated<00:06:44.380> so<00:06:44.650> you<00:06:44.800> need<00:06:44.920> a 00:06:44.970 --> 00:06:44.980 align:start position:0% little bit complicated so you need a 00:06:44.980 --> 00:06:46.650 align:start position:0% little bit complicated so you need a well<00:06:45.130> specified<00:06:45.640> protocol<00:06:46.030> which<00:06:46.150> I<00:06:46.360> will<00:06:46.540> get 00:06:46.650 --> 00:06:46.660 align:start position:0% well specified protocol which I will get 00:06:46.660 --> 00:06:49.140 align:start position:0% well specified protocol which I will get into<00:06:46.830> and<00:06:47.830> the<00:06:47.890> second<00:06:48.220> thing<00:06:48.370> is<00:06:48.580> and<00:06:48.910> it's 00:06:49.140 --> 00:06:49.150 align:start position:0% into and the second thing is and it's 00:06:49.150 --> 00:06:50.310 align:start position:0% into and the second thing is and it's been<00:06:49.180> a<00:06:49.270> bit<00:06:49.450> of<00:06:49.540> misinterpretation<00:06:50.110> if 00:06:50.310 --> 00:06:50.320 align:start position:0% been a bit of misinterpretation if 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the<00:06:55.780> answer<00:06:56.020> is<00:06:56.140> no<00:06:56.320> very<00:06:56.650> similar 00:06:56.970 --> 00:06:56.980 align:start position:0% expensive the answer is no very similar 00:06:56.980 --> 00:06:59.100 align:start position:0% expensive the answer is no very similar to<00:06:57.100> Jeremy<00:06:57.340> and<00:06:57.400> in<00:06:57.700> practice<00:06:58.270> of<00:06:58.450> course<00:06:58.960> you 00:06:59.100 --> 00:06:59.110 align:start position:0% to Jeremy and in practice of course you 00:06:59.110 --> 00:07:00.690 align:start position:0% to Jeremy and in practice of course you deploy<00:06:59.380> a<00:06:59.410> contract<00:06:59.890> on<00:06:59.980> chain<00:07:00.220> that<00:07:00.400> it<00:07:00.490> has 00:07:00.690 --> 00:07:00.700 align:start position:0% deploy a contract on chain that it has 00:07:00.700 --> 00:07:02.910 align:start position:0% deploy a contract on chain that it has the<00:07:00.820> rules<00:07:01.030> that<00:07:01.870> find<00:07:02.110> in<00:07:02.200> the<00:07:02.290> game<00:07:02.440> ahead<00:07:02.830> of 00:07:02.910 --> 00:07:02.920 align:start position:0% the rules that find in the game ahead of 00:07:02.920 --> 00:07:04.140 align:start position:0% the rules that find in the game ahead of time<00:07:03.100> but<00:07:03.250> that's<00:07:03.400> a<00:07:03.490> one-time<00:07:03.850> thing<00:07:03.880> for 00:07:04.140 --> 00:07:04.150 align:start position:0% time but that's a one-time thing for 00:07:04.150 --> 00:07:06.060 align:start position:0% time but that's a one-time thing for application<00:07:04.630> we<00:07:05.320> have<00:07:05.500> introduced<00:07:05.890> in<00:07:05.950> the 00:07:06.060 --> 00:07:06.070 align:start position:0% application we have introduced in the 00:07:06.070 --> 00:07:08.460 align:start position:0% application we have introduced in the paper<00:07:06.280> a<00:07:06.550> notion<00:07:07.150> of<00:07:07.300> this<00:07:07.840> term<00:07:08.110> is<00:07:08.320> called 00:07:08.460 --> 00:07:08.470 align:start position:0% paper a notion of this term is called 00:07:08.470 --> 00:07:10.710 align:start position:0% paper a notion of this term is called counterfactual<00:07:09.130> Sanchi<00:07:09.490> ation<00:07:09.790> which<00:07:10.420> maybe 00:07:10.710 --> 00:07:10.720 align:start position:0% counterfactual Sanchi ation which maybe 00:07:10.720 --> 00:07:12.210 align:start position:0% counterfactual Sanchi ation which maybe you've<00:07:10.900> heard<00:07:11.050> which<00:07:11.260> allows<00:07:11.560> you<00:07:11.800> to<00:07:11.920> do<00:07:12.040> this 00:07:12.210 --> 00:07:12.220 align:start position:0% you've heard which allows you to do this 00:07:12.220 --> 00:07:14.120 align:start position:0% you've heard which allows you to do this off<00:07:12.610> chain<00:07:13.000> but<00:07:13.210> it's<00:07:13.330> a<00:07:13.420> useful<00:07:13.600> technique 00:07:14.120 --> 00:07:14.130 align:start position:0% off chain but it's a useful technique 00:07:14.130 --> 00:07:16.290 align:start position:0% off chain but it's a useful technique for<00:07:15.130> performance<00:07:15.550> and<00:07:15.670> upgrade<00:07:15.880> ability<00:07:15.970> but 00:07:16.290 --> 00:07:16.300 align:start position:0% for performance and upgrade ability but 00:07:16.300 --> 00:07:17.850 align:start position:0% for performance and upgrade ability but it's<00:07:16.420> not<00:07:16.510> necessarily<00:07:16.900> a<00:07:17.020> must-have<00:07:17.470> so<00:07:17.710> it's 00:07:17.850 --> 00:07:17.860 align:start position:0% it's not necessarily a must-have so it's 00:07:17.860 --> 00:07:19.710 align:start position:0% it's not necessarily a must-have so it's very<00:07:18.010> very<00:07:18.490> performant<00:07:19.090> in<00:07:19.240> much<00:07:19.450> the<00:07:19.570> same 00:07:19.710 --> 00:07:19.720 align:start position:0% very very performant in much the same 00:07:19.720 --> 00:07:21.600 align:start position:0% very very performant in much the same way<00:07:19.930> as<00:07:20.110> an<00:07:20.650> app<00:07:20.770> specific<00:07:21.220> state<00:07:21.370> channel 00:07:21.600 --> 00:07:21.610 align:start position:0% way as an app specific state channel 00:07:21.610 --> 00:07:24.720 align:start position:0% way as an app specific state channel might<00:07:21.730> be<00:07:22.140> so<00:07:23.140> great<00:07:23.350> so<00:07:23.800> very<00:07:24.310> quickly<00:07:24.490> what 00:07:24.720 --> 00:07:24.730 align:start position:0% might be so great so very quickly what 00:07:24.730 --> 00:07:26.580 align:start position:0% might be so great so very quickly what is<00:07:24.850> counterfactual<00:07:25.510> and<00:07:25.690> what<00:07:26.200> are<00:07:26.290> we<00:07:26.350> doing 00:07:26.580 --> 00:07:26.590 align:start position:0% is counterfactual and what are we doing 00:07:26.590 --> 00:07:28.440 align:start position:0% is counterfactual and what are we doing about<00:07:26.770> all<00:07:26.890> this<00:07:27.010> why<00:07:27.310> is<00:07:27.700> this<00:07:27.970> something 00:07:28.440 --> 00:07:28.450 align:start position:0% about all this why is this something 00:07:28.450 --> 00:07:31.710 align:start position:0% about all this why is this something we're<00:07:28.720> talking<00:07:28.990> about<00:07:29.970> basically<00:07:30.970> the<00:07:31.330> most 00:07:31.710 --> 00:07:31.720 align:start position:0% we're talking about basically the most 00:07:31.720 --> 00:07:33.720 align:start position:0% we're talking about basically the most important<00:07:32.200> thing<00:07:32.410> is<00:07:32.650> that<00:07:32.680> we<00:07:33.070> are<00:07:33.340> an<00:07:33.520> open 00:07:33.720 --> 00:07:33.730 align:start position:0% important thing is that we are an open 00:07:33.730 --> 00:07:37.260 align:start position:0% important thing is that we are an open source<00:07:33.910> project<00:07:34.120> our<00:07:34.690> goal<00:07:35.550> our<00:07:36.550> vision<00:07:37.120> is 00:07:37.260 --> 00:07:37.270 align:start position:0% source project our goal our vision is 00:07:37.270 --> 00:07:38.670 align:start position:0% source project our goal our vision is that<00:07:37.330> these<00:07:37.720> types<00:07:37.930> of<00:07:38.050> applications<00:07:38.620> like 00:07:38.670 --> 00:07:38.680 align:start position:0% that these types of applications like 00:07:38.680 --> 00:07:40.380 align:start position:0% that these types of applications like I've<00:07:38.919> mentioned<00:07:39.340> should<00:07:39.490> be<00:07:39.669> as<00:07:39.820> easy<00:07:40.090> as 00:07:40.380 --> 00:07:40.390 align:start position:0% I've mentioned should be as easy as 00:07:40.390 --> 00:07:42.570 align:start position:0% I've mentioned should be as easy as possible<00:07:40.600> to<00:07:41.080> build<00:07:41.290> in<00:07:41.500> the<00:07:42.160> future<00:07:42.460> it 00:07:42.570 --> 00:07:42.580 align:start position:0% possible to build in the future it 00:07:42.580 --> 00:07:43.830 align:start position:0% possible to build in the future it should<00:07:42.730> be<00:07:42.790> the<00:07:42.910> case<00:07:42.940> that<00:07:43.270> the<00:07:43.360> developer 00:07:43.830 --> 00:07:43.840 align:start position:0% should be the case that the developer 00:07:43.840 --> 00:07:46.380 align:start position:0% should be the case that the developer goes<00:07:43.990> to<00:07:44.200> a<00:07:44.230> like<00:07:44.500> a<00:07:44.530> hackathon<00:07:44.919> and<00:07:45.310> says<00:07:46.060> I 00:07:46.380 --> 00:07:46.390 align:start position:0% goes to a like a hackathon and says I 00:07:46.390 --> 00:07:48.240 align:start position:0% goes to a like a hackathon and says I want<00:07:46.840> to<00:07:46.900> write<00:07:47.110> an<00:07:47.350> application<00:07:47.500> and<00:07:48.040> I<00:07:48.070> want 00:07:48.240 --> 00:07:48.250 align:start position:0% want to write an application and I want 00:07:48.250 --> 00:07:49.680 align:start position:0% want to write an application and I want to<00:07:48.340> be<00:07:48.430> really<00:07:48.640> fast<00:07:48.910> and<00:07:49.180> they<00:07:49.480> should<00:07:49.630> be 00:07:49.680 --> 00:07:49.690 align:start position:0% to be really fast and they should be 00:07:49.690 --> 00:07:51.420 align:start position:0% to be really fast and they should be able<00:07:49.750> to<00:07:49.870> build<00:07:50.110> a<00:07:50.230> great<00:07:50.440> user<00:07:50.650> experience<00:07:51.220> in 00:07:51.420 --> 00:07:51.430 align:start position:0% able to build a great user experience in 00:07:51.430 --> 00:07:53.310 align:start position:0% able to build a great user experience in 36<00:07:51.790> hours<00:07:51.880> it<00:07:52.330> should<00:07:52.510> be<00:07:52.660> as<00:07:52.840> simple<00:07:52.870> as 00:07:53.310 --> 00:07:53.320 align:start position:0% 36 hours it should be as simple as 00:07:53.320 --> 00:07:55.320 align:start position:0% 36 hours it should be as simple as possible<00:07:53.470> for<00:07:54.130> that<00:07:54.190> to<00:07:54.310> be<00:07:54.370> the<00:07:54.460> case<00:07:54.490> and<00:07:54.880> so 00:07:55.320 --> 00:07:55.330 align:start position:0% possible for that to be the case and so 00:07:55.330 --> 00:07:57.870 align:start position:0% possible for that to be the case and so our<00:07:55.450> vision<00:07:55.660> is<00:07:55.870> to<00:07:55.990> get<00:07:56.110> to<00:07:56.229> that<00:07:56.700> mission<00:07:57.700> in 00:07:57.870 --> 00:07:57.880 align:start position:0% our vision is to get to that mission in 00:07:57.880 --> 00:07:59.520 align:start position:0% our vision is to get to that mission in terms<00:07:58.150> of<00:07:58.270> what<00:07:58.360> the<00:07:58.479> project's<00:07:58.870> goals<00:07:59.140> are<00:07:59.410> is 00:07:59.520 --> 00:07:59.530 align:start position:0% terms of what the project's goals are is 00:07:59.530 --> 00:08:01.350 align:start position:0% terms of what the project's goals are is to<00:07:59.650> build<00:07:59.860> that<00:07:59.979> framework<00:08:00.250> we<00:08:00.580> want<00:08:01.180> to<00:08:01.240> make 00:08:01.350 --> 00:08:01.360 align:start position:0% to build that framework we want to make 00:08:01.360 --> 00:08:03.150 align:start position:0% to build that framework we want to make it<00:08:01.450> as<00:08:01.810> easy<00:08:02.080> as<00:08:02.200> possible<00:08:02.410> for<00:08:02.650> this<00:08:02.860> entire 00:08:03.150 --> 00:08:03.160 align:start position:0% it as easy as possible for this entire 00:08:03.160 --> 00:08:04.650 align:start position:0% it as easy as possible for this entire community<00:08:03.370> to<00:08:03.700> benefit<00:08:04.060> from<00:08:04.150> this<00:08:04.300> technique 00:08:04.650 --> 00:08:04.660 align:start position:0% community to benefit from this technique 00:08:04.660 --> 00:08:07.260 align:start position:0% community to benefit from this technique get<00:08:04.810> it<00:08:04.900> described<00:08:05.260> and<00:08:05.620> so<00:08:06.400> we're<00:08:07.150> not<00:08:07.210> a 00:08:07.260 --> 00:08:07.270 align:start position:0% get it described and so we're not a 00:08:07.270 --> 00:08:08.640 align:start position:0% get it described and so we're not a company<00:08:07.720> we're<00:08:08.229> not<00:08:08.320> any<00:08:08.470> particular 00:08:08.640 --> 00:08:08.650 align:start position:0% company we're not any particular 00:08:08.650 --> 00:08:10.980 align:start position:0% company we're not any particular business<00:08:09.610> with<00:08:10.090> any<00:08:10.240> kind<00:08:10.419> of<00:08:10.479> business<00:08:10.750> model 00:08:10.980 --> 00:08:10.990 align:start position:0% business with any kind of business model 00:08:10.990 --> 00:08:12.420 align:start position:0% business with any kind of business model behind<00:08:11.050> this<00:08:11.290> we're<00:08:11.500> an<00:08:11.560> open-source<00:08:11.950> project 00:08:12.420 --> 00:08:12.430 align:start position:0% behind this we're an open-source project 00:08:12.430 --> 00:08:14.250 align:start position:0% behind this we're an open-source project trying<00:08:12.640> our<00:08:12.820> best<00:08:12.970> to<00:08:13.150> give<00:08:13.840> something<00:08:14.050> to<00:08:14.169> the 00:08:14.250 --> 00:08:14.260 align:start position:0% trying our best to give something to the 00:08:14.260 --> 00:08:15.780 align:start position:0% trying our best to give something to the community<00:08:14.410> and<00:08:14.830> so<00:08:14.950> that<00:08:15.100> that's<00:08:15.340> that's<00:08:15.580> the 00:08:15.780 --> 00:08:15.790 align:start position:0% community and so that that's that's the 00:08:15.790 --> 00:08:18.390 align:start position:0% community and so that that's that's the key<00:08:15.940> takeaway<00:08:16.240> the<00:08:16.330> project<00:08:16.780> so<00:08:17.500> what<00:08:18.250> is 00:08:18.390 --> 00:08:18.400 align:start position:0% key takeaway the project so what is 00:08:18.400 --> 00:08:21.210 align:start position:0% key takeaway the project so what is encompassed<00:08:18.910> within<00:08:18.970> that<00:08:19.500> it's<00:08:20.500> three<00:08:20.860> core 00:08:21.210 --> 00:08:21.220 align:start position:0% encompassed within that it's three core 00:08:21.220 --> 00:08:23.790 align:start position:0% encompassed within that it's three core pieces<00:08:21.400> of<00:08:21.580> infrastructure<00:08:22.020> that<00:08:23.020> basically 00:08:23.790 --> 00:08:23.800 align:start position:0% pieces of infrastructure that basically 00:08:23.800 --> 00:08:26.550 align:start position:0% pieces of infrastructure that basically needed<00:08:24.160> to<00:08:24.280> be<00:08:24.870> implemented<00:08:25.870> and<00:08:26.140> need<00:08:26.320> to<00:08:26.440> be 00:08:26.550 --> 00:08:26.560 align:start position:0% needed to be implemented and need to be 00:08:26.560 --> 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to<00:08:36.130> read<00:08:36.370> simple<00:08:36.880> to 00:08:37.050 --> 00:08:37.060 align:start position:0% bare-bones simple to read simple to 00:08:37.060 --> 00:08:40.140 align:start position:0% bare-bones simple to read simple to deploy<00:08:37.680> small<00:08:38.680> ends<00:08:38.919> of<00:08:39.010> code<00:08:39.219> set<00:08:40.030> of 00:08:40.140 --> 00:08:40.150 align:start position:0% deploy small ends of code set of 00:08:40.150 --> 00:08:42.000 align:start position:0% deploy small ends of code set of contracts<00:08:40.599> that<00:08:40.750> need<00:08:40.870> to<00:08:40.990> be<00:08:41.110> there<00:08:41.349> on<00:08:41.500> top 00:08:42.000 --> 00:08:42.010 align:start position:0% contracts that need to be there on top 00:08:42.010 --> 00:08:43.950 align:start position:0% contracts that need to be there on top of<00:08:42.219> which<00:08:42.430> you<00:08:42.700> can<00:08:42.969> design<00:08:43.120> a<00:08:43.300> protocol<00:08:43.810> that 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position:0% that allows developers to interface 00:08:56.260 --> 00:08:58.080 align:start position:0% that allows developers to interface using<00:08:56.620> this<00:08:56.770> protocol<00:08:57.160> so<00:08:57.730> you<00:08:57.820> can<00:08:57.970> think 00:08:58.080 --> 00:08:58.090 align:start position:0% using this protocol so you can think 00:08:58.090 --> 00:08:59.460 align:start position:0% using this protocol so you can think very<00:08:58.330> similarly<00:08:58.810> this<00:08:58.930> kind<00:08:59.200> of<00:08:59.260> looks<00:08:59.410> like 00:08:59.460 --> 00:08:59.470 align:start position:0% very similarly this kind of looks like 00:08:59.470 --> 00:09:01.710 align:start position:0% very similarly this kind of looks like the<00:08:59.620> web<00:08:59.740> 3<00:09:00.010> stack<00:09:00.280> in<00:09:01.180> the<00:09:01.330> sense<00:09:01.510> that<00:09:01.570> you 00:09:01.710 --> 00:09:01.720 align:start position:0% the web 3 stack in the sense that you 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application library like<00:09:05.920> web<00:09:06.070> 3<00:09:06.400> we're<00:09:06.910> trying<00:09:07.120> to<00:09:07.180> emulate<00:09:07.360> a 00:09:07.530 --> 00:09:07.540 align:start position:0% like web 3 we're trying to emulate a 00:09:07.540 --> 00:09:09.620 align:start position:0% like web 3 we're trying to emulate a similar<00:09:07.930> developer<00:09:08.320> experience<00:09:08.770> for<00:09:08.980> layer<00:09:09.100> 2 00:09:09.620 --> 00:09:09.630 align:start position:0% similar developer experience for layer 2 00:09:09.630 --> 00:09:11.790 align:start position:0% similar developer experience for layer 2 so<00:09:10.630> let's<00:09:10.750> dive<00:09:10.930> into<00:09:11.140> some<00:09:11.260> of<00:09:11.440> the<00:09:11.500> details 00:09:11.790 --> 00:09:11.800 align:start position:0% so let's dive into some of the details 00:09:11.800 --> 00:09:13.830 align:start position:0% so let's dive into some of the details of<00:09:12.040> how<00:09:12.910> we've<00:09:13.060> approached<00:09:13.390> it<00:09:13.510> and<00:09:13.630> what<00:09:13.750> it 00:09:13.830 --> 00:09:13.840 align:start position:0% of how we've approached it and what it 00:09:13.840 --> 00:09:16.920 align:start position:0% of how we've approached it and what it looks<00:09:13.990> like<00:09:15.000> first<00:09:16.000> of<00:09:16.150> all<00:09:16.270> the<00:09:16.540> on<00:09:16.660> chain 00:09:16.920 --> 00:09:16.930 align:start position:0% looks like first of all the on chain 00:09:16.930 --> 00:09:19.500 align:start position:0% looks like first of all the on chain library<00:09:17.440> at<00:09:18.040> your<00:09:18.220> actual<00:09:18.490> contracts<00:09:19.210> layer 00:09:19.500 --> 00:09:19.510 align:start position:0% library at your actual contracts layer 00:09:19.510 --> 00:09:22.800 align:start position:0% library at your actual contracts layer consists<00:09:20.500> of<00:09:20.680> a<00:09:21.100> very<00:09:21.550> basic<00:09:21.790> on<00:09:22.030> in<00:09:22.420> library 00:09:22.800 --> 00:09:22.810 align:start position:0% consists of a very basic on in library 00:09:22.810 --> 00:09:24.660 align:start position:0% consists of a very basic on in library for<00:09:22.930> conditional<00:09:23.260> transactions<00:09:23.800> you<00:09:24.580> may 00:09:24.660 --> 00:09:24.670 align:start position:0% for conditional transactions you may 00:09:24.670 --> 00:09:25.860 align:start position:0% for conditional transactions you may have<00:09:24.760> heard<00:09:24.850> the<00:09:24.910> term<00:09:25.030> conditional<00:09:25.390> payments 00:09:25.860 --> 00:09:25.870 align:start position:0% have heard the term conditional payments 00:09:25.870 --> 00:09:27.600 align:start position:0% have heard the term conditional payments or<00:09:26.020> immediately<00:09:26.320> it<00:09:26.410> transfers<00:09:26.800> it<00:09:26.980> basically 00:09:27.600 --> 00:09:27.610 align:start position:0% or immediately it transfers it basically 00:09:27.610 --> 00:09:31.470 align:start position:0% or immediately it transfers it basically the<00:09:27.730> idea<00:09:28.090> here<00:09:28.390> is<00:09:28.480> that<00:09:29.310> you<00:09:30.310> put<00:09:30.550> is<00:09:30.790> little 00:09:31.470 --> 00:09:31.480 align:start position:0% the idea here is that you put is little 00:09:31.480 --> 00:09:33.960 align:start position:0% the idea here is that you put is little the<00:09:32.200> most<00:09:32.290> minimal<00:09:32.680> component<00:09:33.130> for<00:09:33.580> unanimous 00:09:33.960 --> 00:09:33.970 align:start position:0% the most minimal component for unanimous 00:09:33.970 --> 00:09:36.060 align:start position:0% the most minimal component for unanimous consent<00:09:34.240> as<00:09:34.660> possible<00:09:35.140> in<00:09:35.230> the<00:09:35.320> Shane<00:09:35.500> a<00:09:35.710> multi 00:09:36.060 --> 00:09:36.070 align:start position:0% consent as possible in the Shane a multi 00:09:36.070 --> 00:09:38.220 align:start position:0% consent as possible in the Shane a multi signature<00:09:36.430> wallet<00:09:36.870> achieves<00:09:37.870> an<00:09:38.020> event 00:09:38.220 --> 00:09:38.230 align:start position:0% signature wallet achieves an event 00:09:38.230 --> 00:09:40.560 align:start position:0% signature wallet achieves an event consensus<00:09:38.890> and<00:09:39.820> then<00:09:39.970> what<00:09:40.180> we<00:09:40.300> have<00:09:40.450> in 00:09:40.560 --> 00:09:40.570 align:start position:0% consensus and then what we have in 00:09:40.570 --> 00:09:42.810 align:start position:0% consensus and then what we have in addition<00:09:40.750> to<00:09:40.900> that<00:09:41.050> is<00:09:41.500> a<00:09:41.800> very<00:09:42.220> basic<00:09:42.400> way<00:09:42.760> to 00:09:42.810 --> 00:09:42.820 align:start position:0% addition to that is a very basic way to 00:09:42.820 --> 00:09:44.700 align:start position:0% addition to that is a very basic way to use<00:09:43.090> that<00:09:43.120> Multi<00:09:43.480> signature<00:09:43.810> wallet<00:09:44.170> to<00:09:44.320> sign 00:09:44.700 --> 00:09:44.710 align:start position:0% use that Multi signature wallet to sign 00:09:44.710 --> 00:09:47.730 align:start position:0% use that Multi signature wallet to sign and<00:09:44.890> conditional<00:09:45.220> transactions<00:09:45.790> and<00:09:46.740> using 00:09:47.730 --> 00:09:47.740 align:start position:0% and conditional transactions and using 00:09:47.740 --> 00:09:49.200 align:start position:0% and conditional transactions and using kind<00:09:47.950> of<00:09:48.040> the<00:09:48.130> best-in-class<00:09:48.520> research<00:09:49.000> from 00:09:49.200 --> 00:09:49.210 align:start position:0% kind of the best-in-class research from 00:09:49.210 --> 00:09:50.310 align:start position:0% kind of the best-in-class research from a<00:09:49.270> lot<00:09:49.390> of<00:09:49.420> the<00:09:49.540> people<00:09:49.690> that<00:09:49.960> you're<00:09:50.200> gonna 00:09:50.310 --> 00:09:50.320 align:start position:0% a lot of the people that you're gonna 00:09:50.320 --> 00:09:52.290 align:start position:0% a lot of the people that you're gonna hear<00:09:50.590> I<00:09:50.620> think<00:09:50.890> after<00:09:51.010> me<00:09:51.340> and<00:09:51.550> I've<00:09:52.060> already 00:09:52.290 --> 00:09:52.300 align:start position:0% hear I think after me and I've already 00:09:52.300 --> 00:09:55.470 align:start position:0% hear I think after me and I've already spoken<00:09:52.540> about<00:09:53.580> how<00:09:54.580> you<00:09:54.640> can<00:09:55.000> adjudicate<00:09:55.240> a 00:09:55.470 --> 00:09:55.480 align:start position:0% spoken about how you can adjudicate a 00:09:55.480 --> 00:09:58.200 align:start position:0% spoken about how you can adjudicate a state<00:09:55.720> channel<00:09:56.080> in<00:09:56.680> a<00:09:56.800> very<00:09:57.070> optimal<00:09:57.820> kind<00:09:58.120> of 00:09:58.200 --> 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00:10:03.550 align:start position:0% a simple component to enable this to be 00:10:03.550 --> 00:10:05.730 align:start position:0% a simple component to enable this to be to<00:10:04.480> work<00:10:04.750> on<00:10:04.930> chain<00:10:05.110> and<00:10:05.260> we've<00:10:05.350> already 00:10:05.730 --> 00:10:05.740 align:start position:0% to work on chain and we've already 00:10:05.740 --> 00:10:08.460 align:start position:0% to work on chain and we've already released<00:10:05.980> all<00:10:06.250> of<00:10:06.370> this<00:10:07.110> the<00:10:08.110> great<00:10:08.260> thing<00:10:08.440> is 00:10:08.460 --> 00:10:08.470 align:start position:0% released all of this the great thing is 00:10:08.470 --> 00:10:10.050 align:start position:0% released all of this the great thing is it's<00:10:08.740> built<00:10:08.950> to<00:10:09.040> support<00:10:09.340> all<00:10:09.460> of<00:10:09.580> this<00:10:09.670> stuff 00:10:10.050 --> 00:10:10.060 align:start position:0% it's built to support all of this stuff 00:10:10.060 --> 00:10:11.190 align:start position:0% it's built to support all of this stuff unidirectional<00:10:10.360> payment<00:10:10.960> channels 00:10:11.190 --> 00:10:11.200 align:start position:0% unidirectional payment channels 00:10:11.200 --> 00:10:12.330 align:start position:0% unidirectional payment channels bi-directional<00:10:11.680> payment<00:10:11.980> channels<00:10:12.190> end 00:10:12.330 --> 00:10:12.340 align:start position:0% bi-directional payment channels end 00:10:12.340 --> 00:10:16.080 align:start position:0% bi-directional payment channels end party<00:10:12.670> hub-and-spoke<00:10:12.900> plasma/ether<00:10:13.900> c<00:10:15.060> 2021 00:10:16.080 --> 00:10:16.090 align:start position:0% party hub-and-spoke plasma/ether c 2021 00:10:16.090 --> 00:10:18.330 align:start position:0% party hub-and-spoke plasma/ether c 2021 you<00:10:16.660> name<00:10:16.840> it<00:10:16.870> the<00:10:17.380> main<00:10:17.560> idea<00:10:17.860> is<00:10:18.040> that<00:10:18.070> we're 00:10:18.330 --> 00:10:18.340 align:start position:0% you name it the main idea is that we're 00:10:18.340 --> 00:10:19.800 align:start position:0% you name it the main idea is that we're not<00:10:18.430> assuming<00:10:18.850> any<00:10:19.000> particular<00:10:19.330> type<00:10:19.780> of 00:10:19.800 --> 00:10:19.810 align:start position:0% not assuming any particular type of 00:10:19.810 --> 00:10:21.900 align:start position:0% not assuming any particular type of transaction<00:10:20.410> besides<00:10:20.860> the<00:10:21.220> most<00:10:21.460> primitive 00:10:21.900 --> 00:10:21.910 align:start position:0% transaction besides the most primitive 00:10:21.910 --> 00:10:23.970 align:start position:0% transaction besides the most primitive unit<00:10:22.270> of<00:10:22.450> transaction<00:10:22.900> on<00:10:22.990> aetherium<00:10:23.350> to 00:10:23.970 --> 00:10:23.980 align:start position:0% unit of transaction on aetherium to 00:10:23.980 --> 00:10:26.790 align:start position:0% unit of transaction on aetherium to value<00:10:24.730> data<00:10:25.380> that's<00:10:26.380> all<00:10:26.530> that<00:10:26.680> we're 00:10:26.790 --> 00:10:26.800 align:start position:0% value data that's all that we're 00:10:26.800 --> 00:10:28.740 align:start position:0% value data that's all that we're assuming<00:10:26.920> which<00:10:27.640> means<00:10:27.880> as<00:10:28.090> time<00:10:28.420> goes<00:10:28.630> on 00:10:28.740 --> 00:10:28.750 align:start position:0% assuming which means as time goes on 00:10:28.750 --> 00:10:30.360 align:start position:0% assuming which means as time goes on this<00:10:28.960> framework<00:10:29.140> is<00:10:29.350> agnostic<00:10:29.890> to<00:10:29.920> protocol 00:10:30.360 --> 00:10:30.370 align:start position:0% this framework is agnostic to protocol 00:10:30.370 --> 00:10:31.740 align:start position:0% this framework is agnostic to protocol updates<00:10:30.700> as<00:10:30.850> long<00:10:31.000> as<00:10:31.180> you<00:10:31.270> don't<00:10:31.360> change<00:10:31.570> the 00:10:31.740 --> 00:10:31.750 align:start position:0% updates as long as you don't change the 00:10:31.750 --> 00:10:33.450 align:start position:0% updates as long as you don't change the idea<00:10:31.930> of<00:10:31.990> a<00:10:32.050> transaction<00:10:32.350> aetherium<00:10:33.070> the 00:10:33.450 --> 00:10:33.460 align:start position:0% idea of a transaction aetherium the 00:10:33.460 --> 00:10:36.540 align:start position:0% idea of a transaction aetherium the protocol<00:10:34.080> will<00:10:35.080> still<00:10:35.260> run<00:10:35.440> and<00:10:35.650> we<00:10:36.130> can<00:10:36.250> we 00:10:36.540 --> 00:10:36.550 align:start position:0% protocol will still run and we can we 00:10:36.550 --> 00:10:39.180 align:start position:0% protocol will still run and we can we can<00:10:37.080> incrementally<00:10:38.080> improve<00:10:38.650> this<00:10:38.860> protocol 00:10:39.180 --> 00:10:39.190 align:start position:0% can incrementally improve this protocol 00:10:39.190 --> 00:10:41.190 align:start position:0% can incrementally improve this protocol as<00:10:39.310> aetherium<00:10:39.550> develops<00:10:39.970> over<00:10:40.420> time<00:10:40.450> without 00:10:41.190 --> 00:10:41.200 align:start position:0% as aetherium develops over time without 00:10:41.200 --> 00:10:42.150 align:start position:0% as aetherium develops over time without necessarily<00:10:41.560> having<00:10:41.650> to<00:10:41.860> have<00:10:41.950> massive 00:10:42.150 --> 00:10:42.160 align:start position:0% necessarily having to have massive 00:10:42.160 --> 00:10:46.650 align:start position:0% necessarily having to have massive upgrades<00:10:42.580> per<00:10:42.910> e<00:10:43.240> IP<00:10:43.510> for<00:10:43.870> example<00:10:45.540> what<00:10:46.540> we've 00:10:46.650 --> 00:10:46.660 align:start position:0% upgrades per e IP for example what we've 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you<00:10:54.490> can<00:10:54.610> see<00:10:54.760> and<00:10:55.030> like<00:10:55.150> from<00:10:55.570> from<00:10:55.690> first 00:10:55.890 --> 00:10:55.900 align:start position:0% you can see and like from from first 00:10:55.900 --> 00:10:57.060 align:start position:0% you can see and like from from first presentation<00:10:56.470> this<00:10:56.560> is<00:10:56.620> kind<00:10:56.890> of<00:10:56.920> what 00:10:57.060 --> 00:10:57.070 align:start position:0% presentation this is kind of what 00:10:57.070 --> 00:10:58.410 align:start position:0% presentation this is kind of what they've<00:10:57.220> landed<00:10:57.430> on<00:10:57.670> to<00:10:57.880> in<00:10:58.030> terms<00:10:58.180> of<00:10:58.300> what's 00:10:58.410 --> 00:10:58.420 align:start position:0% they've landed on to in terms of what's 00:10:58.420 --> 00:10:59.310 align:start position:0% they've landed on to in terms of what's the<00:10:58.480> optimal<00:10:58.900> way<00:10:58.990> of<00:10:59.110> describing 00:10:59.310 --> 00:10:59.320 align:start position:0% the optimal way of describing 00:10:59.320 --> 00:11:01.250 align:start position:0% the optimal way of describing applications 00:11:01.250 --> 00:11:01.260 align:start position:0% applications 00:11:01.260 --> 00:11:05.430 align:start position:0% applications state<00:11:02.260> action<00:11:03.280> new<00:11:03.670> state<00:11:03.940> this<00:11:04.930> is<00:11:05.110> the<00:11:05.230> type 00:11:05.430 --> 00:11:05.440 align:start position:0% state action new state this is the type 00:11:05.440 --> 00:11:06.059 align:start position:0% state action new state this is the type of 00:11:06.059 --> 00:11:06.069 align:start position:0% of 00:11:06.069 --> 00:11:08.100 align:start position:0% of way<00:11:06.790> in<00:11:06.999> which<00:11:07.149> we're<00:11:07.360> assuming<00:11:07.480> someone<00:11:07.989> can 00:11:08.100 --> 00:11:08.110 align:start position:0% way in which we're assuming someone can 00:11:08.110 --> 00:11:11.009 align:start position:0% way in which we're assuming someone can design<00:11:08.410> their<00:11:08.619> application<00:11:09.569> and<00:11:10.569> we<00:11:10.689> support 00:11:11.009 --> 00:11:11.019 align:start position:0% design their application and we support 00:11:11.019 --> 00:11:13.049 align:start position:0% design their application and we support this<00:11:11.110> out<00:11:11.499> of<00:11:11.589> the<00:11:11.679> box<00:11:11.889> and<00:11:12.279> we've<00:11:12.670> also<00:11:12.850> added 00:11:13.049 --> 00:11:13.059 align:start position:0% this out of the box and we've also added 00:11:13.059 --> 00:11:15.569 align:start position:0% this out of the box and we've also added three<00:11:13.629> very<00:11:13.869> simple<00:11:14.079> methods<00:11:14.619> to<00:11:14.980> enable<00:11:15.339> your 00:11:15.569 --> 00:11:15.579 align:start position:0% three very simple methods to enable your 00:11:15.579 --> 00:11:16.650 align:start position:0% three very simple methods to enable your blotch<00:11:15.790> and<00:11:15.879> application<00:11:16.389> to<00:11:16.480> kind<00:11:16.629> of 00:11:16.650 --> 00:11:16.660 align:start position:0% blotch and application to kind of 00:11:16.660 --> 00:11:20.100 align:start position:0% blotch and application to kind of benefit<00:11:17.079> from<00:11:18.069> from<00:11:18.759> its<00:11:19.089> base<00:11:19.389> basically<00:11:19.779> be 00:11:20.100 --> 00:11:20.110 align:start position:0% benefit from from its base basically be 00:11:20.110 --> 00:11:22.619 align:start position:0% benefit from from its base basically be easy<00:11:20.769> to<00:11:20.949> define<00:11:21.100> using<00:11:21.459> this<00:11:21.639> framework<00:11:22.089> so<00:11:22.449> a 00:11:22.619 --> 00:11:22.629 align:start position:0% easy to define using this framework so a 00:11:22.629 --> 00:11:24.419 align:start position:0% easy to define using this framework so a resolver<00:11:23.470> something<00:11:23.889> that<00:11:24.009> can<00:11:24.129> take<00:11:24.279> your 00:11:24.419 --> 00:11:24.429 align:start position:0% resolver something that can take your 00:11:24.429 --> 00:11:27.539 align:start position:0% resolver something that can take your state<00:11:24.699> and<00:11:25.470> the<00:11:26.470> pre-commitment<00:11:27.129> the<00:11:27.369> sub 00:11:27.539 --> 00:11:27.549 align:start position:0% state and the pre-commitment the sub 00:11:27.549 --> 00:11:28.949 align:start position:0% state and the pre-commitment the sub deposit<00:11:27.999> pre<00:11:28.119> cream<00:11:28.299> that<00:11:28.449> you've<00:11:28.540> made<00:11:28.749> and 00:11:28.949 --> 00:11:28.959 align:start position:0% deposit pre cream that you've made and 00:11:28.959 --> 00:11:30.900 align:start position:0% deposit pre cream that you've made and figure<00:11:29.739> out<00:11:29.860> what<00:11:30.129> transactions<00:11:30.639> need<00:11:30.759> to<00:11:30.819> be 00:11:30.900 --> 00:11:30.910 align:start position:0% figure out what transactions need to be 00:11:30.910 --> 00:11:33.869 align:start position:0% figure out what transactions need to be made<00:11:31.089> a<00:11:31.839> is<00:11:32.589> terminal<00:11:33.069> clause<00:11:33.279> something<00:11:33.730> that 00:11:33.869 --> 00:11:33.879 align:start position:0% made a is terminal clause something that 00:11:33.879 --> 00:11:36.419 align:start position:0% made a is terminal clause something that says<00:11:34.089> is<00:11:34.299> this<00:11:34.509> game<00:11:34.689> over<00:11:34.989> and<00:11:35.920> I'll<00:11:36.040> show<00:11:36.399> you 00:11:36.419 --> 00:11:36.429 align:start position:0% says is this game over and I'll show you 00:11:36.429 --> 00:11:37.739 align:start position:0% says is this game over and I'll show you how<00:11:36.579> all<00:11:36.610> these<00:11:36.819> are<00:11:36.970> relevant<00:11:37.179> in<00:11:37.360> a<00:11:37.420> second 00:11:37.739 --> 00:11:37.749 align:start position:0% how all these are relevant in a second 00:11:37.749 --> 00:11:39.720 align:start position:0% how all these are relevant in a second and<00:11:37.929> kind<00:11:38.589> of<00:11:38.649> a<00:11:38.709> turn-taking<00:11:39.129> mechanism 00:11:39.720 --> 00:11:39.730 align:start position:0% and kind of a turn-taking mechanism 00:11:39.730 --> 00:11:41.489 align:start position:0% and kind of a turn-taking mechanism which<00:11:39.850> can<00:11:39.970> define<00:11:40.269> is<00:11:40.540> it<00:11:40.839> a<00:11:40.899> valid<00:11:41.079> update<00:11:41.379> or 00:11:41.489 --> 00:11:41.499 align:start position:0% which can define is it a valid update or 00:11:41.499 --> 00:11:45.530 align:start position:0% which can define is it a valid update or not<00:11:42.389> the<00:11:43.389> key<00:11:43.569> point<00:11:43.809> here<00:11:44.049> for<00:11:44.199> very<00:11:44.980> simple 00:11:45.530 --> 00:11:45.540 align:start position:0% not the key point here for very simple 00:11:45.540 --> 00:11:47.189 align:start position:0% not the key point here for very simple functions<00:11:46.540> that<00:11:46.600> you<00:11:46.720> can<00:11:46.839> implement<00:11:47.049> for 00:11:47.189 --> 00:11:47.199 align:start position:0% functions that you can implement for 00:11:47.199 --> 00:11:49.439 align:start position:0% functions that you can implement for arbitrary<00:11:47.709> applications<00:11:48.399> if<00:11:48.670> you<00:11:49.179> implement 00:11:49.439 --> 00:11:49.449 align:start position:0% arbitrary applications if you implement 00:11:49.449 --> 00:11:51.059 align:start position:0% arbitrary applications if you implement them<00:11:49.749> the<00:11:49.869> frame<00:11:50.049> framework<00:11:50.709> supports 00:11:51.059 --> 00:11:51.069 align:start position:0% them the frame framework supports 00:11:51.069 --> 00:11:52.129 align:start position:0% them the frame framework supports out-of-the-box 00:11:52.129 --> 00:11:52.139 align:start position:0% out-of-the-box 00:11:52.139 --> 00:11:55.739 align:start position:0% out-of-the-box so<00:11:53.189> very<00:11:54.189> simple<00:11:54.519> high-level<00:11:54.970> example<00:11:55.360> a 00:11:55.739 --> 00:11:55.749 align:start position:0% so very simple high-level example a 00:11:55.749 --> 00:11:57.359 align:start position:0% so very simple high-level example a bi-directional<00:11:56.319> payment<00:11:57.009> channel<00:11:57.220> for 00:11:57.359 --> 00:11:57.369 align:start position:0% bi-directional payment channel for 00:11:57.369 --> 00:11:59.639 align:start position:0% bi-directional payment channel for example<00:11:57.600> basically<00:11:58.600> here<00:11:59.170> it's<00:11:59.410> the<00:11:59.529> most 00:11:59.639 --> 00:11:59.649 align:start position:0% example basically here it's the most 00:11:59.649 --> 00:12:02.340 align:start position:0% example basically here it's the most basic<00:12:00.100> possible<00:12:00.639> state<00:12:00.970> machine<00:12:01.299> you<00:12:02.110> have 00:12:02.340 --> 00:12:02.350 align:start position:0% basic possible state machine you have 00:12:02.350 --> 00:12:05.910 align:start position:0% basic possible state machine you have one<00:12:03.009> state<00:12:03.309> and<00:12:03.610> people<00:12:04.089> can<00:12:04.329> just<00:12:04.889> update<00:12:05.889> the 00:12:05.910 --> 00:12:05.920 align:start position:0% one state and people can just update the 00:12:05.920 --> 00:12:08.100 align:start position:0% one state and people can just update the version<00:12:06.339> of<00:12:06.699> where<00:12:06.939> you're<00:12:07.059> at<00:12:07.089> with<00:12:07.389> that<00:12:07.449> in 00:12:08.100 --> 00:12:08.110 align:start position:0% version of where you're at with that in 00:12:08.110 --> 00:12:10.829 align:start position:0% version of where you're at with that in this<00:12:08.379> case<00:12:08.589> it's<00:12:09.009> n<00:12:09.610> party<00:12:10.029> state<00:12:10.299> channel<00:12:10.660> and 00:12:10.829 --> 00:12:10.839 align:start position:0% this case it's n party state channel and 00:12:10.839 --> 00:12:13.619 align:start position:0% this case it's n party state channel and in<00:12:11.049> the<00:12:11.259> cases<00:12:11.589> is<00:12:11.709> two<00:12:11.920> in<00:12:12.069> the<00:12:12.160> array<00:12:12.399> all<00:12:13.360> you 00:12:13.619 --> 00:12:13.629 align:start position:0% in the cases is two in the array all you 00:12:13.629 --> 00:12:16.259 align:start position:0% in the cases is two in the array all you do<00:12:13.749> is<00:12:13.839> update<00:12:13.990> it<00:12:14.199> most<00:12:14.829> basic<00:12:15.129> case<00:12:15.309> so<00:12:15.970> what 00:12:16.259 --> 00:12:16.269 align:start position:0% do is update it most basic case so what 00:12:16.269 --> 00:12:17.189 align:start position:0% do is update it most basic case so what if<00:12:16.360> you<00:12:16.449> want<00:12:16.569> to<00:12:16.600> jump<00:12:16.779> in<00:12:16.869> like<00:12:16.929> more 00:12:17.189 --> 00:12:17.199 align:start position:0% if you want to jump in like more 00:12:17.199 --> 00:12:19.109 align:start position:0% if you want to jump in like more complicated<00:12:17.920> for<00:12:18.069> which<00:12:18.160> there's<00:12:18.399> all<00:12:18.819> kinds 00:12:19.109 --> 00:12:19.119 align:start position:0% complicated for which there's all kinds 00:12:19.119 --> 00:12:20.160 align:start position:0% complicated for which there's all kinds of<00:12:19.179> different<00:12:19.329> separate<00:12:19.809> bespoke 00:12:20.160 --> 00:12:20.170 align:start position:0% of different separate bespoke 00:12:20.170 --> 00:12:21.329 align:start position:0% of different separate bespoke applications<00:12:20.709> like<00:12:20.769> eating<00:12:20.949> a<00:12:21.009> directional 00:12:21.329 --> 00:12:21.339 align:start position:0% applications like eating a directional 00:12:21.339 --> 00:12:23.579 align:start position:0% applications like eating a directional payment<00:12:21.670> channel<00:12:21.910> well<00:12:22.509> we<00:12:22.660> just<00:12:22.809> write<00:12:22.990> as<00:12:23.439> a 00:12:23.579 --> 00:12:23.589 align:start position:0% payment channel well we just write as a 00:12:23.589 --> 00:12:25.980 align:start position:0% payment channel well we just write as a machine<00:12:23.860> looks<00:12:24.069> like<00:12:24.189> this<00:12:24.480> you<00:12:25.480> start<00:12:25.540> in<00:12:25.869> an 00:12:25.980 --> 00:12:25.990 align:start position:0% machine looks like this you start in an 00:12:25.990 --> 00:12:28.889 align:start position:0% machine looks like this you start in an open<00:12:26.230> state<00:12:26.439> send<00:12:27.399> in<00:12:27.759> bat<00:12:28.029> and<00:12:28.209> as<00:12:28.299> a<00:12:28.329> bit<00:12:28.779> of<00:12:28.839> a 00:12:28.889 --> 00:12:28.899 align:start position:0% open state send in bat and as a bit of a 00:12:28.899 --> 00:12:30.660 align:start position:0% open state send in bat and as a bit of a context<00:12:29.499> a<00:12:29.589> unidirectional<00:12:30.220> payment<00:12:30.459> channel 00:12:30.660 --> 00:12:30.670 align:start position:0% context a unidirectional payment channel 00:12:30.670 --> 00:12:33.269 align:start position:0% context a unidirectional payment channel is<00:12:30.759> one<00:12:30.970> of<00:12:31.119> the<00:12:31.209> kind<00:12:31.449> where<00:12:31.749> only<00:12:32.350> one<00:12:32.740> the 00:12:33.269 --> 00:12:33.279 align:start position:0% is one of the kind where only one the 00:12:33.279 --> 00:12:34.379 align:start position:0% is one of the kind where only one the payments<00:12:33.699> can<00:12:33.759> only<00:12:33.879> be<00:12:33.999> sent<00:12:34.149> in<00:12:34.240> one 00:12:34.379 --> 00:12:34.389 align:start position:0% payments can only be sent in one 00:12:34.389 --> 00:12:36.840 align:start position:0% payments can only be sent in one direction<00:12:34.569> so<00:12:34.929> a<00:12:35.290> and<00:12:35.559> B<00:12:35.709> a<00:12:35.889> can<00:12:36.189> send<00:12:36.399> to<00:12:36.459> be<00:12:36.610> B 00:12:36.840 --> 00:12:36.850 align:start position:0% direction so a and B a can send to be B 00:12:36.850 --> 00:12:39.749 align:start position:0% direction so a and B a can send to be B can't<00:12:37.119> send<00:12:37.420> a<00:12:37.629> and<00:12:37.869> the<00:12:38.379> idea<00:12:38.709> is<00:12:38.799> that<00:12:38.860> B<00:12:39.579> is 00:12:39.749 --> 00:12:39.759 align:start position:0% can't send a and the idea is that B is 00:12:39.759 --> 00:12:41.129 align:start position:0% can't send a and the idea is that B is the<00:12:39.910> recipient<00:12:40.299> and<00:12:40.509> if<00:12:40.600> they<00:12:40.720> want<00:12:40.899> to<00:12:40.959> just 00:12:41.129 --> 00:12:41.139 align:start position:0% the recipient and if they want to just 00:12:41.139 --> 00:12:43.230 align:start position:0% the recipient and if they want to just leave<00:12:41.259> they<00:12:41.559> can<00:12:41.589> instantly<00:12:41.980> leave<00:12:42.339> so<00:12:42.999> how 00:12:43.230 --> 00:12:43.240 align:start position:0% leave they can instantly leave so how 00:12:43.240 --> 00:12:44.549 align:start position:0% leave they can instantly leave so how can<00:12:43.299> you<00:12:43.509> define<00:12:43.779> that<00:12:43.990> you<00:12:44.170> can<00:12:44.290> define<00:12:44.529> a 00:12:44.549 --> 00:12:44.559 align:start position:0% can you define that you can define a 00:12:44.559 --> 00:12:47.759 align:start position:0% can you define that you can define a machine<00:12:44.980> where<00:12:45.509> in<00:12:46.509> the<00:12:46.749> open<00:12:47.049> state<00:12:47.259> the 00:12:47.759 --> 00:12:47.769 align:start position:0% machine where in the open state the 00:12:47.769 --> 00:12:49.530 align:start position:0% machine where in the open state the sender<00:12:48.069> can<00:12:48.100> send<00:12:48.249> and<00:12:49.089> that's<00:12:49.240> a<00:12:49.360> valid 00:12:49.530 --> 00:12:49.540 align:start position:0% sender can send and that's a valid 00:12:49.540 --> 00:12:52.139 align:start position:0% sender can send and that's a valid action<00:12:49.899> and<00:12:50.429> you<00:12:51.429> can<00:12:51.579> get<00:12:51.759> to<00:12:51.879> the<00:12:51.970> point 00:12:52.139 --> 00:12:52.149 align:start position:0% action and you can get to the point 00:12:52.149 --> 00:12:54.210 align:start position:0% action and you can get to the point where<00:12:52.509> you<00:12:52.689> are<00:12:52.720> done<00:12:53.110> in<00:12:53.319> a<00:12:53.529> terminal<00:12:53.980> state 00:12:54.210 --> 00:12:54.220 align:start position:0% where you are done in a terminal state 00:12:54.220 --> 00:12:55.350 align:start position:0% where you are done in a terminal state which<00:12:54.429> is<00:12:54.519> what<00:12:54.639> I<00:12:54.669> would<00:12:54.759> represent<00:12:55.089> with 00:12:55.350 --> 00:12:55.360 align:start position:0% which is what I would represent with 00:12:55.360 --> 00:12:58.499 align:start position:0% which is what I would represent with this<00:12:55.480> orange<00:12:55.660> ring<00:12:55.929> where<00:12:56.730> if<00:12:57.730> you<00:12:58.179> are<00:12:58.419> the 00:12:58.499 --> 00:12:58.509 align:start position:0% this orange ring where if you are the 00:12:58.509 --> 00:13:00.419 align:start position:0% this orange ring where if you are the receiver<00:12:59.139> and<00:12:59.410> you<00:12:59.499> call<00:12:59.679> the<00:12:59.799> close<00:13:00.040> action 00:13:00.419 --> 00:13:00.429 align:start position:0% receiver and you call the close action 00:13:00.429 --> 00:13:02.819 align:start position:0% receiver and you call the close action you<00:13:01.209> can<00:13:01.360> instantly<00:13:01.629> exit<00:13:02.019> so<00:13:02.499> you<00:13:02.559> define 00:13:02.819 --> 00:13:02.829 align:start position:0% you can instantly exit so you define 00:13:02.829 --> 00:13:03.960 align:start position:0% you can instantly exit so you define your<00:13:02.949> state<00:13:03.100> machine<00:13:03.339> in<00:13:03.429> this<00:13:03.579> way<00:13:03.730> and<00:13:03.910> you 00:13:03.960 --> 00:13:03.970 align:start position:0% your state machine in this way and you 00:13:03.970 --> 00:13:04.829 align:start position:0% your state machine in this way and you get<00:13:04.089> all<00:13:04.239> of<00:13:04.269> the<00:13:04.419> properties<00:13:04.809> of 00:13:04.829 --> 00:13:04.839 align:start position:0% get all of the properties of 00:13:04.839 --> 00:13:06.780 align:start position:0% get all of the properties of unidirectional<00:13:05.499> payment<00:13:05.799> channels<00:13:06.069> without 00:13:06.780 --> 00:13:06.790 align:start position:0% unidirectional payment channels without 00:13:06.790 --> 00:13:08.039 align:start position:0% unidirectional payment channels without having<00:13:07.029> to<00:13:07.119> implement<00:13:07.239> anything<00:13:07.720> different 00:13:08.039 --> 00:13:08.049 align:start position:0% having to implement anything different 00:13:08.049 --> 00:13:10.039 align:start position:0% having to implement anything different from<00:13:08.230> the<00:13:08.529> generalized<00:13:08.919> framework 00:13:10.039 --> 00:13:10.049 align:start position:0% from the generalized framework 00:13:10.049 --> 00:13:12.840 align:start position:0% from the generalized framework tic-tac-toe<00:13:11.049> a<00:13:11.259> bit<00:13:11.679> more<00:13:11.829> complicated<00:13:12.429> but 00:13:12.840 --> 00:13:12.850 align:start position:0% tic-tac-toe a bit more complicated but 00:13:12.850 --> 00:13:14.759 align:start position:0% tic-tac-toe a bit more complicated but it's<00:13:13.119> the<00:13:13.209> same<00:13:13.360> general<00:13:13.419> idea<00:13:13.839> right<00:13:14.290> you 00:13:14.759 --> 00:13:14.769 align:start position:0% it's the same general idea right you 00:13:14.769 --> 00:13:16.439 align:start position:0% it's the same general idea right you define<00:13:15.100> what<00:13:15.669> is<00:13:15.759> your<00:13:15.850> state<00:13:15.970> machine 00:13:16.439 --> 00:13:16.449 align:start position:0% define what is your state machine 00:13:16.449 --> 00:13:19.049 align:start position:0% define what is your state machine it's<00:13:17.079> an<00:13:17.230> extern<00:13:17.649> is<00:13:17.889> it<00:13:18.009> O's<00:13:18.160> turn 00:13:19.049 --> 00:13:19.059 align:start position:0% it's an extern is it O's turn 00:13:19.059 --> 00:13:21.479 align:start position:0% it's an extern is it O's turn execute<00:13:19.809> place<00:13:20.049> annex<00:13:20.349> and<00:13:20.559> he<00:13:20.619> can<00:13:20.769> win<00:13:20.919> or<00:13:21.219> X 00:13:21.479 --> 00:13:21.489 align:start position:0% execute place annex and he can win or X 00:13:21.489 --> 00:13:23.399 align:start position:0% execute place annex and he can win or X can<00:13:21.699> place<00:13:21.879> an<00:13:22.029> X<00:13:22.179> and<00:13:22.359> it<00:13:22.419> can<00:13:22.539> be<00:13:22.629> a<00:13:22.659> draw<00:13:22.899> you 00:13:23.399 --> 00:13:23.409 align:start position:0% can place an X and it can be a draw you 00:13:23.409 --> 00:13:25.139 align:start position:0% can place an X and it can be a draw you get<00:13:23.559> the<00:13:23.649> idea<00:13:23.919> and<00:13:24.099> again<00:13:24.699> you're<00:13:24.879> defining 00:13:25.139 --> 00:13:25.149 align:start position:0% get the idea and again you're defining 00:13:25.149 --> 00:13:29.579 align:start position:0% get the idea and again you're defining your<00:13:25.389> state<00:13:25.629> in<00:13:25.809> this<00:13:25.929> very<00:13:26.139> simple<00:13:26.439> way<00:13:27.899> so<00:13:28.899> in 00:13:29.579 --> 00:13:29.589 align:start position:0% your state in this very simple way so in 00:13:29.589 --> 00:13:32.459 align:start position:0% your state in this very simple way so in designing<00:13:30.009> that<00:13:30.369> framework<00:13:30.989> in<00:13:31.989> addition<00:13:32.379> to 00:13:32.459 --> 00:13:32.469 align:start position:0% designing that framework in addition to 00:13:32.469 --> 00:13:34.049 align:start position:0% designing that framework in addition to making<00:13:32.649> it<00:13:32.799> very<00:13:32.949> generic<00:13:33.429> and<00:13:33.579> possible<00:13:33.969> to 00:13:34.049 --> 00:13:34.059 align:start position:0% making it very generic and possible to 00:13:34.059 --> 00:13:35.069 align:start position:0% making it very generic and possible to build<00:13:34.239> all<00:13:34.329> kinds<00:13:34.359> of<00:13:34.689> state<00:13:34.839> channel 00:13:35.069 --> 00:13:35.079 align:start position:0% build all kinds of state channel 00:13:35.079 --> 00:13:37.049 align:start position:0% build all kinds of state channel applications<00:13:35.589> using<00:13:35.859> it<00:13:35.979> we've<00:13:36.399> also<00:13:36.579> spent<00:13:36.909> a 00:13:37.049 --> 00:13:37.059 align:start position:0% applications using it we've also spent a 00:13:37.059 --> 00:13:38.309 align:start position:0% applications using it we've also spent a significant<00:13:37.659> amount<00:13:37.779> of<00:13:37.869> time<00:13:38.079> in<00:13:38.259> the 00:13:38.309 --> 00:13:38.319 align:start position:0% significant amount of time in the 00:13:38.319 --> 00:13:40.169 align:start position:0% significant amount of time in the engineering<00:13:38.739> side<00:13:38.919> to<00:13:39.069> make<00:13:39.219> this<00:13:39.339> as<00:13:39.789> easy<00:13:39.849> as 00:13:40.169 --> 00:13:40.179 align:start position:0% engineering side to make this as easy as 00:13:40.179 --> 00:13:41.879 align:start position:0% engineering side to make this as easy as possible<00:13:40.269> for<00:13:40.899> developers<00:13:40.959> to<00:13:41.379> build<00:13:41.589> on<00:13:41.739> top 00:13:41.879 --> 00:13:41.889 align:start position:0% possible for developers to build on top 00:13:41.889 --> 00:13:43.829 align:start position:0% possible for developers to build on top of<00:13:42.129> and<00:13:42.279> you<00:13:42.759> can<00:13:42.849> see<00:13:43.089> this<00:13:43.269> in<00:13:43.449> kind<00:13:43.629> of<00:13:43.749> the 00:13:43.829 --> 00:13:43.839 align:start position:0% of and you can see this in kind of the 00:13:43.839 --> 00:13:45.329 align:start position:0% of and you can see this in kind of the implementation<00:13:44.379> details<00:13:44.469> of<00:13:44.799> some<00:13:44.949> example 00:13:45.329 --> 00:13:45.339 align:start position:0% implementation details of some example 00:13:45.339 --> 00:13:47.429 align:start position:0% implementation details of some example applications<00:13:45.539> so<00:13:46.539> I'll<00:13:46.689> show<00:13:46.839> you<00:13:46.929> very<00:13:47.169> quick 00:13:47.429 --> 00:13:47.439 align:start position:0% applications so I'll show you very quick 00:13:47.439 --> 00:13:50.009 align:start position:0% applications so I'll show you very quick of<00:13:47.979> some<00:13:48.129> code<00:13:48.339> from<00:13:48.639> a<00:13:48.939> counter<00:13:49.449> application 00:13:50.009 --> 00:13:50.019 align:start position:0% of some code from a counter application 00:13:50.019 --> 00:13:51.959 align:start position:0% of some code from a counter application one<00:13:50.649> where<00:13:50.859> basically<00:13:51.249> you<00:13:51.639> have<00:13:51.729> a<00:13:51.789> counter 00:13:51.959 --> 00:13:51.969 align:start position:0% one where basically you have a counter 00:13:51.969 --> 00:13:53.519 align:start position:0% one where basically you have a counter you<00:13:52.299> can<00:13:52.449> increment<00:13:52.689> it<00:13:52.929> you<00:13:53.019> can<00:13:53.169> decrement 00:13:53.519 --> 00:13:53.529 align:start position:0% you can increment it you can decrement 00:13:53.529 --> 00:13:56.569 align:start position:0% you can increment it you can decrement it<00:13:53.649> the<00:13:53.739> basic<00:13:54.069> kind<00:13:54.759> of<00:13:54.819> example<00:13:55.569> app<00:13:55.689> and 00:13:56.569 --> 00:13:56.579 align:start position:0% it the basic kind of example app and 00:13:56.579 --> 00:13:59.309 align:start position:0% it the basic kind of example app and basically<00:13:57.579> it<00:13:57.909> looks<00:13:58.389> just<00:13:58.599> like<00:13:58.779> this<00:13:58.959> it's<00:13:59.229> a 00:13:59.309 --> 00:13:59.319 align:start position:0% basically it looks just like this it's a 00:13:59.319 --> 00:14:01.259 align:start position:0% basically it looks just like this it's a stateless<00:13:59.709> contract<00:14:00.249> and<00:14:00.489> there's<00:14:01.089> three 00:14:01.259 --> 00:14:01.269 align:start position:0% stateless contract and there's three 00:14:01.269 --> 00:14:02.399 align:start position:0% stateless contract and there's three slides<00:14:01.509> here<00:14:01.749> I'll<00:14:01.839> go<00:14:01.959> through<00:14:02.169> there's<00:14:02.319> a 00:14:02.399 --> 00:14:02.409 align:start position:0% slides here I'll go through there's a 00:14:02.409 --> 00:14:05.069 align:start position:0% slides here I'll go through there's a state<00:14:02.589> lift<00:14:02.799> contract<00:14:03.269> you<00:14:04.269> just<00:14:04.449> define<00:14:04.779> what 00:14:05.069 --> 00:14:05.079 align:start position:0% state lift contract you just define what 00:14:05.079 --> 00:14:08.099 align:start position:0% state lift contract you just define what is<00:14:05.199> the<00:14:05.349> structure<00:14:05.709> of<00:14:05.919> your<00:14:06.069> state<00:14:06.429> and<00:14:07.179> kind 00:14:08.099 --> 00:14:08.109 align:start position:0% is the structure of your state and kind 00:14:08.109 --> 00:14:10.109 align:start position:0% is the structure of your state and kind of<00:14:08.229> like<00:14:08.319> Jimmy<00:14:08.529> mentioned<00:14:08.949> it's<00:14:09.759> as<00:14:09.879> simple 00:14:10.109 --> 00:14:10.119 align:start position:0% of like Jimmy mentioned it's as simple 00:14:10.119 --> 00:14:13.379 align:start position:0% of like Jimmy mentioned it's as simple as<00:14:10.359> this<00:14:10.569> we<00:14:11.319> actually<00:14:11.979> actually<00:14:12.579> had<00:14:12.999> a<00:14:13.029> we 00:14:13.379 --> 00:14:13.389 align:start position:0% as this we actually actually had a we 00:14:13.389 --> 00:14:14.789 align:start position:0% as this we actually actually had a we actually<00:14:13.479> have<00:14:13.749> a<00:14:13.779> hacky<00:14:14.169> solution<00:14:14.589> to<00:14:14.679> get 00:14:14.789 --> 00:14:14.799 align:start position:0% actually have a hacky solution to get 00:14:14.799 --> 00:14:16.799 align:start position:0% actually have a hacky solution to get around<00:14:15.009> the<00:14:15.249> necessity<00:14:15.729> for<00:14:15.879> a<00:14:15.909> B<00:14:15.999> ID<00:14:16.449> code<00:14:16.659> and 00:14:16.799 --> 00:14:16.809 align:start position:0% around the necessity for a B ID code and 00:14:16.809 --> 00:14:18.209 align:start position:0% around the necessity for a B ID code and the<00:14:16.869> code<00:14:16.989> base<00:14:17.169> right<00:14:17.319> now<00:14:17.379> but<00:14:17.679> when<00:14:18.129> it 00:14:18.209 --> 00:14:18.219 align:start position:0% the code base right now but when it 00:14:18.219 --> 00:14:21.059 align:start position:0% the code base right now but when it comes<00:14:18.369> out<00:14:18.489> that'll<00:14:18.729> be<00:14:18.819> great<00:14:18.909> too<00:14:19.319> and<00:14:20.319> you 00:14:21.059 --> 00:14:21.069 align:start position:0% comes out that'll be great too and you 00:14:21.069 --> 00:14:22.739 align:start position:0% comes out that'll be great too and you just<00:14:21.219> define<00:14:21.519> your<00:14:21.699> state<00:14:21.939> as<00:14:22.119> a<00:14:22.149> struct<00:14:22.509> I 00:14:22.739 --> 00:14:22.749 align:start position:0% just define your state as a struct I 00:14:22.749 --> 00:14:24.539 align:start position:0% just define your state as a struct I need<00:14:23.349> to<00:14:23.409> find<00:14:23.649> the<00:14:23.739> actions<00:14:24.129> that<00:14:24.189> you<00:14:24.309> can 00:14:24.539 --> 00:14:24.549 align:start position:0% need to find the actions that you can 00:14:24.549 --> 00:14:26.639 align:start position:0% need to find the actions that you can use<00:14:24.699> to<00:14:24.879> modify<00:14:25.059> it<00:14:25.329> and<00:14:25.539> again<00:14:25.779> this<00:14:26.169> function 00:14:26.639 --> 00:14:26.649 align:start position:0% use to modify it and again this function 00:14:26.649 --> 00:14:28.109 align:start position:0% use to modify it and again this function signature<00:14:27.069> allows<00:14:27.399> you<00:14:27.579> to<00:14:27.669> mimic<00:14:27.969> what<00:14:28.089> a 00:14:28.109 --> 00:14:28.119 align:start position:0% signature allows you to mimic what a 00:14:28.119 --> 00:14:31.169 align:start position:0% signature allows you to mimic what a state<00:14:28.299> machine<00:14:28.479> does<00:14:29.699> you<00:14:30.699> have<00:14:30.819> a<00:14:30.849> simple 00:14:31.169 --> 00:14:31.179 align:start position:0% state machine does you have a simple 00:14:31.179 --> 00:14:33.059 align:start position:0% state machine does you have a simple function<00:14:31.569> apply<00:14:32.049> action<00:14:32.439> like<00:14:32.589> I<00:14:32.619> mentioned 00:14:33.059 --> 00:14:33.069 align:start position:0% function apply action like I mentioned 00:14:33.069 --> 00:14:35.129 align:start position:0% function apply action like I mentioned you<00:14:33.489> take<00:14:33.669> state<00:14:34.029> you<00:14:34.269> take<00:14:34.419> the<00:14:34.539> action<00:14:34.899> you 00:14:35.129 --> 00:14:35.139 align:start position:0% you take state you take the action you 00:14:35.139 --> 00:14:37.379 align:start position:0% you take state you take the action you decide<00:14:35.739> what<00:14:35.859> to<00:14:35.949> do<00:14:36.069> about<00:14:36.279> it<00:14:36.399> is<00:14:37.059> a<00:14:37.119> very 00:14:37.379 --> 00:14:37.389 align:start position:0% decide what to do about it is a very 00:14:37.389 --> 00:14:39.929 align:start position:0% decide what to do about it is a very simple<00:14:37.749> control<00:14:38.049> flow<00:14:38.339> and<00:14:39.339> then<00:14:39.759> there's 00:14:39.929 --> 00:14:39.939 align:start position:0% simple control flow and then there's 00:14:39.939 --> 00:14:41.969 align:start position:0% simple control flow and then there's just<00:14:40.089> very<00:14:40.179> basic<00:14:40.479> implementation<00:14:41.319> so<00:14:41.829> this 00:14:41.969 --> 00:14:41.979 align:start position:0% just very basic implementation so this 00:14:41.979 --> 00:14:43.619 align:start position:0% just very basic implementation so this is<00:14:42.099> literally<00:14:42.279> the<00:14:42.489> entire<00:14:42.579> contract<00:14:43.389> for<00:14:43.599> a 00:14:43.619 --> 00:14:43.629 align:start position:0% is literally the entire contract for a 00:14:43.629 --> 00:14:47.669 align:start position:0% is literally the entire contract for a very<00:14:44.019> basic<00:14:44.229> counter<00:14:44.619> app<00:14:45.689> so<00:14:46.689> the<00:14:47.469> great 00:14:47.669 --> 00:14:47.679 align:start position:0% very basic counter app so the great 00:14:47.679 --> 00:14:49.379 align:start position:0% very basic counter app so the great thing<00:14:47.829> about<00:14:47.859> this<00:14:48.279> again<00:14:48.969> is<00:14:49.119> certainly 00:14:49.379 --> 00:14:49.389 align:start position:0% thing about this again is certainly 00:14:49.389 --> 00:14:52.109 align:start position:0% thing about this again is certainly rightly<00:14:49.689> mentioned<00:14:50.079> is<00:14:50.199> that<00:14:50.759> state<00:14:51.759> machines 00:14:52.109 --> 00:14:52.119 align:start position:0% rightly mentioned is that state machines 00:14:52.119 --> 00:14:54.569 align:start position:0% rightly mentioned is that state machines encompass<00:14:52.989> arbitrary<00:14:53.889> things<00:14:54.159> that<00:14:54.339> you<00:14:54.429> can 00:14:54.569 --> 00:14:54.579 align:start position:0% encompass arbitrary things that you can 00:14:54.579 --> 00:14:58.469 align:start position:0% encompass arbitrary things that you can run<00:14:54.729> on<00:14:54.879> the<00:14:54.999> EVM<00:14:55.919> that<00:14:56.919> are<00:14:57.189> basically<00:14:57.729> pure 00:14:58.469 --> 00:14:58.479 align:start position:0% run on the EVM that are basically pure 00:14:58.479 --> 00:14:59.579 align:start position:0% run on the EVM that are basically pure and<00:14:58.629> constant<00:14:58.959> functions<00:14:59.289> there<00:14:59.409> is<00:14:59.499> an 00:14:59.579 --> 00:14:59.589 align:start position:0% and constant functions there is an 00:14:59.589 --> 00:15:01.139 align:start position:0% and constant functions there is an aspect<00:14:59.949> of<00:15:00.069> time<00:15:00.279> dimension<00:15:00.699> here<00:15:00.879> which<00:15:01.029> I 00:15:01.139 --> 00:15:01.149 align:start position:0% aspect of time dimension here which I 00:15:01.149 --> 00:15:02.369 align:start position:0% aspect of time dimension here which I think<00:15:01.359> probably<00:15:01.719> one<00:15:02.019> of<00:15:02.049> the<00:15:02.169> future 00:15:02.369 --> 00:15:02.379 align:start position:0% think probably one of the future 00:15:02.379 --> 00:15:03.719 align:start position:0% think probably one of the future speakers<00:15:02.619> will<00:15:02.769> talk<00:15:02.799> about<00:15:03.159> they<00:15:03.279> add<00:15:03.549> some 00:15:03.719 --> 00:15:03.729 align:start position:0% speakers will talk about they add some 00:15:03.729 --> 00:15:05.369 align:start position:0% speakers will talk about they add some complexity<00:15:04.149> but<00:15:04.359> for<00:15:04.839> things<00:15:05.019> that<00:15:05.109> you<00:15:05.229> can 00:15:05.369 --> 00:15:05.379 align:start position:0% complexity but for things that you can 00:15:05.379 --> 00:15:09.569 align:start position:0% complexity but for things that you can run<00:15:05.559> that<00:15:05.799> are<00:15:05.949> EVM<00:15:06.699> based<00:15:08.219> this<00:15:09.219> encompasses 00:15:09.569 --> 00:15:09.579 align:start position:0% run that are EVM based this encompasses 00:15:09.579 --> 00:15:13.139 align:start position:0% run that are EVM based this encompasses everything<00:15:10.119> which<00:15:10.449> is<00:15:10.479> great<00:15:10.749> and<00:15:11.229> so<00:15:12.149> that's 00:15:13.139 --> 00:15:13.149 align:start position:0% everything which is great and so that's 00:15:13.149 --> 00:15:15.419 align:start position:0% everything which is great and so that's the<00:15:13.329> minimalist<00:15:13.719> contracts<00:15:14.169> layer<00:15:14.349> on<00:15:15.129> top<00:15:15.369> of 00:15:15.419 --> 00:15:15.429 align:start position:0% the minimalist contracts layer on top of 00:15:15.429 --> 00:15:17.279 align:start position:0% the minimalist contracts layer on top of that<00:15:15.729> we've<00:15:15.909> had<00:15:15.939> the<00:15:16.179> devise<00:15:16.479> of<00:15:16.719> a<00:15:16.779> protocol 00:15:17.279 --> 00:15:17.289 align:start position:0% that we've had the devise of a protocol 00:15:17.289 --> 00:15:18.839 align:start position:0% that we've had the devise of a protocol for<00:15:17.589> this<00:15:17.649> whole<00:15:17.829> generalized<00:15:18.339> state<00:15:18.579> channel 00:15:18.839 --> 00:15:18.849 align:start position:0% for this whole generalized state channel 00:15:18.849 --> 00:15:21.329 align:start position:0% for this whole generalized state channel concept<00:15:19.299> and<00:15:20.289> without<00:15:20.739> going<00:15:20.829> into<00:15:21.039> too<00:15:21.129> much 00:15:21.329 --> 00:15:21.339 align:start position:0% concept and without going into too much 00:15:21.339 --> 00:15:24.359 align:start position:0% concept and without going into too much detail<00:15:21.759> we've<00:15:22.719> essentially<00:15:23.049> done<00:15:23.349> that<00:15:23.559> this 00:15:24.359 --> 00:15:24.369 align:start position:0% detail we've essentially done that this 00:15:24.369 --> 00:15:26.249 align:start position:0% detail we've essentially done that this is<00:15:24.549> basically<00:15:24.879> a<00:15:24.999> generic<00:15:25.419> software<00:15:25.629> for<00:15:26.079> that 00:15:26.249 --> 00:15:26.259 align:start position:0% is basically a generic software for that 00:15:26.259 --> 00:15:28.169 align:start position:0% is basically a generic software for that clients<00:15:26.559> can<00:15:26.589> run<00:15:26.859> and<00:15:27.069> as<00:15:27.519> all<00:15:27.699> possible 00:15:28.169 --> 00:15:28.179 align:start position:0% clients can run and as all possible 00:15:28.179 --> 00:15:29.519 align:start position:0% clients can run and as all possible embed<00:15:28.389> messages<00:15:28.749> you<00:15:28.899> can<00:15:29.019> receive<00:15:29.289> using 00:15:29.519 --> 00:15:29.529 align:start position:0% embed messages you can receive using 00:15:29.529 --> 00:15:31.199 align:start position:0% embed messages you can receive using channels<00:15:29.889> and<00:15:30.129> it's<00:15:30.489> designed<00:15:30.789> to<00:15:30.879> be<00:15:31.059> as 00:15:31.199 --> 00:15:31.209 align:start position:0% channels and it's designed to be as 00:15:31.209 --> 00:15:32.940 align:start position:0% channels and it's designed to be as portable<00:15:31.539> as<00:15:31.899> possible<00:15:32.409> so<00:15:32.529> this<00:15:32.649> is<00:15:32.739> not 00:15:32.940 --> 00:15:32.950 align:start position:0% portable as possible so this is not 00:15:32.950 --> 00:15:34.170 align:start position:0% portable as possible so this is not like<00:15:33.040> a<00:15:33.070> full<00:15:33.310> note<00:15:33.460> software<00:15:33.970> that<00:15:34.090> we've 00:15:34.170 --> 00:15:34.180 align:start position:0% like a full note software that we've 00:15:34.180 --> 00:15:38.550 align:start position:0% like a full note software that we've developed<00:15:34.330> this<00:15:35.020> is<00:15:35.200> just<00:15:35.380> a<00:15:35.470> basic<00:15:36.150> very<00:15:37.560> very 00:15:38.550 --> 00:15:38.560 align:start position:0% developed this is just a basic very very 00:15:38.560 --> 00:15:40.350 align:start position:0% developed this is just a basic very very basic<00:15:39.040> implementation<00:15:39.580> of<00:15:39.640> a<00:15:39.700> protocol<00:15:40.120> that 00:15:40.350 --> 00:15:40.360 align:start position:0% basic implementation of a protocol that 00:15:40.360 --> 00:15:42.090 align:start position:0% basic implementation of a protocol that says<00:15:40.690> you<00:15:41.260> know<00:15:41.380> the<00:15:41.620> different<00:15:41.920> types<00:15:41.950> of 00:15:42.090 --> 00:15:42.100 align:start position:0% says you know the different types of 00:15:42.100 --> 00:15:43.680 align:start position:0% says you know the different types of messages<00:15:42.400> that<00:15:42.430> someone<00:15:43.300> can<00:15:43.450> send<00:15:43.570> to 00:15:43.680 --> 00:15:43.690 align:start position:0% messages that someone can send to 00:15:43.690 --> 00:15:46.230 align:start position:0% messages that someone can send to another<00:15:43.810> to<00:15:44.470> use<00:15:45.370> they're<00:15:45.670> on<00:15:45.790> chain<00:15:46.030> state 00:15:46.230 --> 00:15:46.240 align:start position:0% another to use they're on chain state 00:15:46.240 --> 00:15:47.910 align:start position:0% another to use they're on chain state deposit<00:15:46.720> to<00:15:47.080> install<00:15:47.350> applications<00:15:47.800> and 00:15:47.910 --> 00:15:47.920 align:start position:0% deposit to install applications and 00:15:47.920 --> 00:15:49.290 align:start position:0% deposit to install applications and install<00:15:48.130> applications<00:15:48.610> and<00:15:48.910> so<00:15:49.000> on<00:15:49.150> and<00:15:49.240> so 00:15:49.290 --> 00:15:49.300 align:start position:0% install applications and so on and so 00:15:49.300 --> 00:15:51.470 align:start position:0% install applications and so on and so forth<00:15:49.540> and<00:15:50.470> it's<00:15:50.650> it's<00:15:50.950> a<00:15:51.040> very<00:15:51.190> practical 00:15:51.470 --> 00:15:51.480 align:start position:0% forth and it's it's a very practical 00:15:51.480 --> 00:15:53.880 align:start position:0% forth and it's it's a very practical we've<00:15:52.480> we've<00:15:52.870> tried<00:15:53.140> to<00:15:53.170> make<00:15:53.380> it<00:15:53.500> be<00:15:53.590> the<00:15:53.680> case 00:15:53.880 --> 00:15:53.890 align:start position:0% we've we've tried to make it be the case 00:15:53.890 --> 00:15:56.310 align:start position:0% we've we've tried to make it be the case that<00:15:54.190> there's<00:15:55.090> no<00:15:55.210> unnecessary<00:15:55.540> Network 00:15:56.310 --> 00:15:56.320 align:start position:0% that there's no unnecessary Network 00:15:56.320 --> 00:15:58.740 align:start position:0% that there's no unnecessary Network overhead<00:15:56.890> it's<00:15:57.070> it's<00:15:57.610> a<00:15:57.910> sense<00:15:58.150> to<00:15:58.270> be<00:15:58.420> they 00:15:58.740 --> 00:15:58.750 align:start position:0% overhead it's it's a sense to be they 00:15:58.750 --> 00:16:00.150 align:start position:0% overhead it's it's a sense to be they get<00:15:58.870> a<00:15:58.930> response<00:15:59.050> back<00:15:59.350> for<00:15:59.680> all<00:15:59.830> of<00:16:00.040> the 00:16:00.150 --> 00:16:00.160 align:start position:0% get a response back for all of the 00:16:00.160 --> 00:16:03.390 align:start position:0% get a response back for all of the protocols<00:16:00.340> in<00:16:00.670> the<00:16:00.760> entire<00:16:02.130> construction<00:16:03.130> and 00:16:03.390 --> 00:16:03.400 align:start position:0% protocols in the entire construction and 00:16:03.400 --> 00:16:05.190 align:start position:0% protocols in the entire construction and so<00:16:03.880> it's<00:16:04.030> practical<00:16:04.480> and<00:16:04.720> can<00:16:04.900> be<00:16:04.990> deployed 00:16:05.190 --> 00:16:05.200 align:start position:0% so it's practical and can be deployed 00:16:05.200 --> 00:16:07.590 align:start position:0% so it's practical and can be deployed today<00:16:06.060> if<00:16:07.060> you<00:16:07.180> want<00:16:07.300> to<00:16:07.360> look<00:16:07.480> at<00:16:07.540> the 00:16:07.590 --> 00:16:07.600 align:start position:0% today if you want to look at the 00:16:07.600 --> 00:16:09.060 align:start position:0% today if you want to look at the specifications<00:16:08.200> of<00:16:08.290> the<00:16:08.350> protocol<00:16:08.770> we<00:16:08.920> have<00:16:09.040> a 00:16:09.060 --> 00:16:09.070 align:start position:0% specifications of the protocol we have a 00:16:09.070 --> 00:16:11.780 align:start position:0% specifications of the protocol we have a whole<00:16:09.430> spec<00:16:09.670> spec<00:16:10.270> stock<00:16:10.600> on<00:16:10.930> the<00:16:11.290> website 00:16:11.780 --> 00:16:11.790 align:start position:0% whole spec spec stock on the website 00:16:11.790 --> 00:16:15.210 align:start position:0% whole spec spec stock on the website well<00:16:12.790> on<00:16:12.880> github<00:16:13.210> and<00:16:13.560> you<00:16:14.560> can<00:16:14.710> you<00:16:14.920> can<00:16:15.040> dive 00:16:15.210 --> 00:16:15.220 align:start position:0% well on github and you can you can dive 00:16:15.220 --> 00:16:16.440 align:start position:0% well on github and you can you can dive into<00:16:15.430> there<00:16:15.670> this<00:16:15.880> is<00:16:16.030> kind<00:16:16.210> of<00:16:16.240> the 00:16:16.440 --> 00:16:16.450 align:start position:0% into there this is kind of the 00:16:16.450 --> 00:16:18.750 align:start position:0% into there this is kind of the beginnings<00:16:16.870> of<00:16:16.990> what<00:16:17.050> we<00:16:17.230> hope<00:16:17.440> will<00:16:17.740> become<00:16:18.220> a 00:16:18.750 --> 00:16:18.760 align:start position:0% beginnings of what we hope will become a 00:16:18.760 --> 00:16:20.610 align:start position:0% beginnings of what we hope will become a very<00:16:19.240> good<00:16:19.480> standard<00:16:19.870> for<00:16:20.080> what<00:16:20.200> is<00:16:20.290> the<00:16:20.410> best 00:16:20.610 --> 00:16:20.620 align:start position:0% very good standard for what is the best 00:16:20.620 --> 00:16:22.020 align:start position:0% very good standard for what is the best that<00:16:20.770> you<00:16:20.860> can<00:16:20.980> get<00:16:21.190> for<00:16:21.400> state<00:16:21.700> channels<00:16:21.970> on 00:16:22.020 --> 00:16:22.030 align:start position:0% that you can get for state channels on 00:16:22.030 --> 00:16:23.550 align:start position:0% that you can get for state channels on aetherium<00:16:22.300> and<00:16:22.540> eventually<00:16:22.960> it<00:16:23.380> would<00:16:23.470> be 00:16:23.550 --> 00:16:23.560 align:start position:0% aetherium and eventually it would be 00:16:23.560 --> 00:16:25.890 align:start position:0% aetherium and eventually it would be nice<00:16:23.740> if<00:16:24.190> if<00:16:24.700> we<00:16:25.120> can<00:16:25.240> build<00:16:25.360> on<00:16:25.540> top<00:16:25.570> of<00:16:25.810> this 00:16:25.890 --> 00:16:25.900 align:start position:0% nice if if we can build on top of this 00:16:25.900 --> 00:16:28.380 align:start position:0% nice if if we can build on top of this common<00:16:26.350> standard<00:16:27.010> and<00:16:27.760> hopefully<00:16:28.090> a<00:16:28.120> lot<00:16:28.270> of 00:16:28.380 --> 00:16:28.390 align:start position:0% common standard and hopefully a lot of 00:16:28.390 --> 00:16:29.910 align:start position:0% common standard and hopefully a lot of the<00:16:28.480> research<00:16:28.720> can<00:16:28.930> end<00:16:29.260> up<00:16:29.350> here<00:16:29.560> that<00:16:29.770> that's 00:16:29.910 --> 00:16:29.920 align:start position:0% the research can end up here that that's 00:16:29.920 --> 00:16:33.030 align:start position:0% the research can end up here that that's our<00:16:30.100> goal<00:16:30.280> at<00:16:30.430> least<00:16:31.020> so<00:16:32.020> finally<00:16:32.950> an 00:16:33.030 --> 00:16:33.040 align:start position:0% our goal at least so finally an 00:16:33.040 --> 00:16:34.740 align:start position:0% our goal at least so finally an application<00:16:33.550> library<00:16:33.940> and<00:16:34.150> this<00:16:34.600> is 00:16:34.740 --> 00:16:34.750 align:start position:0% application library and this is 00:16:34.750 --> 00:16:36.120 align:start position:0% application library and this is basically<00:16:35.140> the<00:16:35.710> thing<00:16:35.860> I<00:16:35.950> mentioned 00:16:36.120 --> 00:16:36.130 align:start position:0% basically the thing I mentioned 00:16:36.130 --> 00:16:39.180 align:start position:0% basically the thing I mentioned analogous<00:16:36.610> to<00:16:36.730> web<00:16:36.850> 3<00:16:37.890> it's<00:16:38.890> an<00:16:39.070> application 00:16:39.180 --> 00:16:39.190 align:start position:0% analogous to web 3 it's an application 00:16:39.190 --> 00:16:41.250 align:start position:0% analogous to web 3 it's an application library<00:16:39.880> the<00:16:40.000> developer<00:16:40.450> pulls<00:16:40.660> in<00:16:40.870> to<00:16:41.110> their 00:16:41.250 --> 00:16:41.260 align:start position:0% library the developer pulls in to their 00:16:41.260 --> 00:16:44.790 align:start position:0% library the developer pulls in to their to<00:16:41.740> their<00:16:41.830> adapt<00:16:42.210> they<00:16:43.210> simply<00:16:43.690> interact<00:16:44.260> not 00:16:44.790 --> 00:16:44.800 align:start position:0% to their adapt they simply interact not 00:16:44.800 --> 00:16:46.920 align:start position:0% to their adapt they simply interact not with<00:16:45.160> their<00:16:45.430> wallet<00:16:45.910> in<00:16:46.030> a<00:16:46.120> way<00:16:46.300> that<00:16:46.540> is<00:16:46.660> kind 00:16:46.920 --> 00:16:46.930 align:start position:0% with their wallet in a way that is kind 00:16:46.930 --> 00:16:48.840 align:start position:0% with their wallet in a way that is kind of<00:16:46.990> through<00:16:47.320> the<00:16:47.440> web<00:16:47.560> 3<00:16:47.860> interface<00:16:48.340> but<00:16:48.640> with 00:16:48.840 --> 00:16:48.850 align:start position:0% of through the web 3 interface but with 00:16:48.850 --> 00:16:51.330 align:start position:0% of through the web 3 interface but with kind<00:16:49.360> of<00:16:49.480> this<00:16:50.040> counterfactual<00:16:51.040> interface 00:16:51.330 --> 00:16:51.340 align:start position:0% kind of this counterfactual interface 00:16:51.340 --> 00:16:53.190 align:start position:0% kind of this counterfactual interface for<00:16:51.460> this<00:16:51.550> layer<00:16:51.760> 2<00:16:51.910> interface<00:16:52.240> you<00:16:52.780> do<00:16:52.960> things 00:16:53.190 --> 00:16:53.200 align:start position:0% for this layer 2 interface you do things 00:16:53.200 --> 00:16:55.770 align:start position:0% for this layer 2 interface you do things like<00:16:53.350> update<00:16:54.070> state<00:16:54.340> to<00:16:55.060> your<00:16:55.180> wallet<00:16:55.390> and<00:16:55.660> the 00:16:55.770 --> 00:16:55.780 align:start position:0% like update state to your wallet and the 00:16:55.780 --> 00:16:57.060 align:start position:0% like update state to your wallet and the wallet<00:16:56.080> with<00:16:56.380> the<00:16:56.470> implementation<00:16:56.650> of<00:16:56.980> the 00:16:57.060 --> 00:16:57.070 align:start position:0% wallet with the implementation of the 00:16:57.070 --> 00:16:58.920 align:start position:0% wallet with the implementation of the protocol<00:16:57.460> figures<00:16:58.270> that<00:16:58.420> how<00:16:58.630> to<00:16:58.690> interact 00:16:58.920 --> 00:16:58.930 align:start position:0% protocol figures that how to interact 00:16:58.930 --> 00:17:00.390 align:start position:0% protocol figures that how to interact with<00:16:59.080> this<00:16:59.230> counterparties<00:16:59.740> and<00:16:59.800> again<00:17:00.040> this 00:17:00.390 --> 00:17:00.400 align:start position:0% with this counterparties and again this 00:17:00.400 --> 00:17:01.680 align:start position:0% with this counterparties and again this is<00:17:00.580> a<00:17:00.610> little<00:17:00.880> bit<00:17:00.970> abstract<00:17:01.240> but<00:17:01.390> it's<00:17:01.570> it 00:17:01.680 --> 00:17:01.690 align:start position:0% is a little bit abstract but it's it 00:17:01.690 --> 00:17:03.630 align:start position:0% is a little bit abstract but it's it it's<00:17:02.020> it's<00:17:02.320> this<00:17:02.470> entire<00:17:02.800> full<00:17:03.130> stack<00:17:03.310> suite 00:17:03.630 --> 00:17:03.640 align:start position:0% it's it's this entire full stack suite 00:17:03.640 --> 00:17:05.040 align:start position:0% it's it's this entire full stack suite that<00:17:03.820> proves<00:17:04.030> that<00:17:04.180> the<00:17:04.390> use<00:17:04.750> case<00:17:04.900> is 00:17:05.040 --> 00:17:05.050 align:start position:0% that proves that the use case is 00:17:05.050 --> 00:17:06.930 align:start position:0% that proves that the use case is possible<00:17:05.500> and<00:17:05.650> all<00:17:06.370> of<00:17:06.640> this<00:17:06.760> has<00:17:06.910> been 00:17:06.930 --> 00:17:06.940 align:start position:0% possible and all of this has been 00:17:06.940 --> 00:17:09.150 align:start position:0% possible and all of this has been designed<00:17:07.209> in<00:17:07.570> mind<00:17:07.780> to<00:17:07.930> be<00:17:08.050> as<00:17:08.260> easy<00:17:08.829> as 00:17:09.150 --> 00:17:09.160 align:start position:0% designed in mind to be as easy as 00:17:09.160 --> 00:17:11.550 align:start position:0% designed in mind to be as easy as possible<00:17:09.400> for<00:17:09.699> a<00:17:09.880> developer<00:17:10.360> and<00:17:11.199> like<00:17:11.470> I 00:17:11.550 --> 00:17:11.560 align:start position:0% possible for a developer and like I 00:17:11.560 --> 00:17:12.900 align:start position:0% possible for a developer and like I mentioned<00:17:11.890> earlier<00:17:11.949> we<00:17:12.220> actually<00:17:12.730> run 00:17:12.900 --> 00:17:12.910 align:start position:0% mentioned earlier we actually run 00:17:12.910 --> 00:17:15.540 align:start position:0% mentioned earlier we actually run hackathons<00:17:13.480> and<00:17:13.690> so<00:17:13.780> we<00:17:13.930> we<00:17:14.320> spend<00:17:15.280> enormous 00:17:15.540 --> 00:17:15.550 align:start position:0% hackathons and so we we spend enormous 00:17:15.550 --> 00:17:16.650 align:start position:0% hackathons and so we we spend enormous amounts<00:17:15.730> of<00:17:15.940> time<00:17:16.000> with<00:17:16.240> developer<00:17:16.600> to 00:17:16.650 --> 00:17:16.660 align:start position:0% amounts of time with developer to 00:17:16.660 --> 00:17:18.390 align:start position:0% amounts of time with developer to understand<00:17:17.050> what<00:17:17.230> is<00:17:17.320> it<00:17:17.470> that<00:17:17.500> what<00:17:18.190> kind<00:17:18.280> of 00:17:18.390 --> 00:17:18.400 align:start position:0% understand what is it that what kind of 00:17:18.400 --> 00:17:22.530 align:start position:0% understand what is it that what kind of get<00:17:18.550> people<00:17:18.760> caught<00:17:18.940> up<00:17:20.400> so<00:17:21.400> why<00:17:21.579> why<00:17:22.180> is<00:17:22.420> it 00:17:22.530 --> 00:17:22.540 align:start position:0% get people caught up so why why is it 00:17:22.540 --> 00:17:23.819 align:start position:0% get people caught up so why why is it that<00:17:22.630> we're<00:17:22.780> doing<00:17:22.990> any<00:17:23.110> of<00:17:23.199> these<00:17:23.380> things<00:17:23.440> and 00:17:23.819 --> 00:17:23.829 align:start position:0% that we're doing any of these things and 00:17:23.829 --> 00:17:26.160 align:start position:0% that we're doing any of these things and what<00:17:24.130> are<00:17:24.220> the<00:17:24.280> kind<00:17:24.459> of<00:17:24.520> values<00:17:24.910> that<00:17:25.170> our 00:17:26.160 --> 00:17:26.170 align:start position:0% what are the kind of values that our 00:17:26.170 --> 00:17:27.870 align:start position:0% what are the kind of values that our lineups<00:17:26.650> for<00:17:26.829> this<00:17:27.010> as<00:17:27.339> mentioned<00:17:27.640> earlier 00:17:27.870 --> 00:17:27.880 align:start position:0% lineups for this as mentioned earlier 00:17:27.880 --> 00:17:29.700 align:start position:0% lineups for this as mentioned earlier kind<00:17:28.510> of<00:17:28.570> factors<00:17:28.870> open<00:17:29.110> source<00:17:29.290> project 00:17:29.700 --> 00:17:29.710 align:start position:0% kind of factors open source project 00:17:29.710 --> 00:17:31.020 align:start position:0% kind of factors open source project there's<00:17:29.830> multiple<00:17:30.250> contributors<00:17:30.490> and<00:17:30.820> I'll 00:17:31.020 --> 00:17:31.030 align:start position:0% there's multiple contributors and I'll 00:17:31.030 --> 00:17:32.820 align:start position:0% there's multiple contributors and I'll get<00:17:31.180> into<00:17:31.300> who<00:17:31.390> they<00:17:31.480> are<00:17:31.510> but<00:17:32.230> we<00:17:32.560> think<00:17:32.680> this 00:17:32.820 --> 00:17:32.830 align:start position:0% get into who they are but we think this 00:17:32.830 --> 00:17:36.060 align:start position:0% get into who they are but we think this is<00:17:32.980> just<00:17:33.100> plain<00:17:33.310> old<00:17:33.400> open<00:17:33.730> source<00:17:34.020> we<00:17:35.070> really 00:17:36.060 --> 00:17:36.070 align:start position:0% is just plain old open source we really 00:17:36.070 --> 00:17:37.320 align:start position:0% is just plain old open source we really just<00:17:36.190> want<00:17:36.460> to<00:17:36.520> be<00:17:36.580> able<00:17:36.820> to<00:17:36.910> work<00:17:37.090> with<00:17:37.240> the 00:17:37.320 --> 00:17:37.330 align:start position:0% just want to be able to work with the 00:17:37.330 --> 00:17:38.610 align:start position:0% just want to be able to work with the etherium<00:17:37.630> ecosystem<00:17:38.110> the<00:17:38.200> people<00:17:38.440> that<00:17:38.530> are 00:17:38.610 --> 00:17:38.620 align:start position:0% etherium ecosystem the people that are 00:17:38.620 --> 00:17:39.660 align:start position:0% etherium ecosystem the people that are hearing<00:17:38.770> people<00:17:39.010> that<00:17:39.100> are<00:17:39.190> at<00:17:39.280> Def<00:17:39.430> Con<00:17:39.460> and 00:17:39.660 --> 00:17:39.670 align:start position:0% hearing people that are at Def Con and 00:17:39.670 --> 00:17:41.160 align:start position:0% hearing people that are at Def Con and try<00:17:40.000> to<00:17:40.060> just<00:17:40.270> take<00:17:40.480> a<00:17:40.510> lot<00:17:40.750> of<00:17:40.780> the<00:17:40.960> great 00:17:41.160 --> 00:17:41.170 align:start position:0% try to just take a lot of the great 00:17:41.170 --> 00:17:42.750 align:start position:0% try to just take a lot of the great research<00:17:41.530> that<00:17:41.560> we've<00:17:41.860> talked<00:17:42.490> about<00:17:42.640> over 00:17:42.750 --> 00:17:42.760 align:start position:0% research that we've talked about over 00:17:42.760 --> 00:17:44.640 align:start position:0% research that we've talked about over the<00:17:43.060> years<00:17:43.090> and<00:17:43.540> then<00:17:43.660> a<00:17:43.690> you<00:17:44.050> know<00:17:44.140> III<00:17:44.410> search 00:17:44.640 --> 00:17:44.650 align:start position:0% the years and then a you know III search 00:17:44.650 --> 00:17:45.919 align:start position:0% the years and then a you know III search posts<00:17:44.980> about<00:17:45.190> May 00:17:45.919 --> 00:17:45.929 align:start position:0% posts about May 00:17:45.929 --> 00:17:48.320 align:start position:0% posts about May concrete<00:17:46.559> arrive<00:17:47.159> at<00:17:47.340> standards<00:17:47.789> arrive<00:17:48.179> at 00:17:48.320 --> 00:17:48.330 align:start position:0% concrete arrive at standards arrive at 00:17:48.330 --> 00:17:49.820 align:start position:0% concrete arrive at standards arrive at things<00:17:48.539> that<00:17:48.749> we<00:17:49.080> can<00:17:49.200> agree<00:17:49.409> you're<00:17:49.619> kind<00:17:49.769> of 00:17:49.820 --> 00:17:49.830 align:start position:0% things that we can agree you're kind of 00:17:49.830 --> 00:17:51.379 align:start position:0% things that we can agree you're kind of best-in-class<00:17:50.249> research<00:17:50.730> and<00:17:50.970> build<00:17:51.119> on<00:17:51.210> top 00:17:51.379 --> 00:17:51.389 align:start position:0% best-in-class research and build on top 00:17:51.389 --> 00:17:53.060 align:start position:0% best-in-class research and build on top of<00:17:51.539> that<00:17:51.659> all<00:17:52.499> right<00:17:52.649> there's<00:17:52.769> no<00:17:52.830> one<00:17:52.980> that's 00:17:53.060 --> 00:17:53.070 align:start position:0% of that all right there's no one that's 00:17:53.070 --> 00:17:55.879 align:start position:0% of that all right there's no one that's a<00:17:53.190> server<00:17:53.399> you<00:17:53.549> go<00:17:53.700> no<00:17:53.879> necessary<00:17:54.889> lock-in 00:17:55.879 --> 00:17:55.889 align:start position:0% a server you go no necessary lock-in 00:17:55.889 --> 00:17:57.169 align:start position:0% a server you go no necessary lock-in it's<00:17:56.100> just<00:17:56.249> a<00:17:56.309> matter<00:17:56.490> of<00:17:56.639> how<00:17:56.820> do<00:17:56.879> we<00:17:56.999> build 00:17:57.169 --> 00:17:57.179 align:start position:0% it's just a matter of how do we build 00:17:57.179 --> 00:17:58.220 align:start position:0% it's just a matter of how do we build open<00:17:57.360> standards<00:17:57.779> that<00:17:57.869> are<00:17:57.960> helpful<00:17:58.110> for 00:17:58.220 --> 00:17:58.230 align:start position:0% open standards that are helpful for 00:17:58.230 --> 00:18:00.350 align:start position:0% open standards that are helpful for everybody<00:17:58.619> and<00:17:59.490> we<00:17:59.610> want<00:17:59.789> to<00:17:59.850> do<00:17:59.940> that<00:18:00.090> as<00:18:00.179> just 00:18:00.350 --> 00:18:00.360 align:start position:0% everybody and we want to do that as just 00:18:00.360 --> 00:18:02.299 align:start position:0% everybody and we want to do that as just plain<00:18:00.539> old<00:18:00.690> open<00:18:00.929> source<00:18:01.110> we<00:18:01.769> don't<00:18:01.919> think 00:18:02.299 --> 00:18:02.309 align:start position:0% plain old open source we don't think 00:18:02.309 --> 00:18:04.009 align:start position:0% plain old open source we don't think there's<00:18:02.429> any<00:18:02.580> necessity<00:18:02.730> for<00:18:03.299> a<00:18:03.330> business<00:18:03.779> or 00:18:04.009 --> 00:18:04.019 align:start position:0% there's any necessity for a business or 00:18:04.019 --> 00:18:05.869 align:start position:0% there's any necessity for a business or or<00:18:04.470> token<00:18:04.889> we<00:18:05.009> think<00:18:05.220> that<00:18:05.340> there's<00:18:05.490> just<00:18:05.549> just 00:18:05.869 --> 00:18:05.879 align:start position:0% or token we think that there's just just 00:18:05.879 --> 00:18:08.690 align:start position:0% or token we think that there's just just plain<00:18:06.269> old<00:18:06.419> open<00:18:06.629> source<00:18:07.340> and<00:18:08.340> developer 00:18:08.690 --> 00:18:08.700 align:start position:0% plain old open source and developer 00:18:08.700 --> 00:18:10.100 align:start position:0% plain old open source and developer focused<00:18:09.029> mention<00:18:09.389> is<00:18:09.450> a<00:18:09.480> handful<00:18:09.809> of<00:18:09.899> times 00:18:10.100 --> 00:18:10.110 align:start position:0% focused mention is a handful of times 00:18:10.110 --> 00:18:12.019 align:start position:0% focused mention is a handful of times and<00:18:10.320> you<00:18:10.379> can<00:18:10.409> see<00:18:10.529> through<00:18:10.889> the<00:18:11.009> like<00:18:11.490> way 00:18:12.019 --> 00:18:12.029 align:start position:0% and you can see through the like way 00:18:12.029 --> 00:18:13.129 align:start position:0% and you can see through the like way that<00:18:12.179> we've<00:18:12.269> designed<00:18:12.360> this<00:18:12.659> this<00:18:12.809> is<00:18:12.960> meant 00:18:13.129 --> 00:18:13.139 align:start position:0% that we've designed this this is meant 00:18:13.139 --> 00:18:14.570 align:start position:0% that we've designed this this is meant to<00:18:13.230> be<00:18:13.320> something<00:18:13.499> as<00:18:13.769> easy<00:18:13.799> as<00:18:14.039> possible<00:18:14.249> for 00:18:14.570 --> 00:18:14.580 align:start position:0% to be something as easy as possible for 00:18:14.580 --> 00:18:17.570 align:start position:0% to be something as easy as possible for developers<00:18:14.639> to<00:18:15.629> use<00:18:16.129> and<00:18:17.129> we<00:18:17.220> want<00:18:17.369> to<00:18:17.429> drive 00:18:17.570 --> 00:18:17.580 align:start position:0% developers to use and we want to drive 00:18:17.580 --> 00:18:19.279 align:start position:0% developers to use and we want to drive your<00:18:17.730> compatibility<00:18:18.149> we<00:18:18.749> want<00:18:18.929> to<00:18:18.990> make<00:18:19.110> it<00:18:19.200> be 00:18:19.279 --> 00:18:19.289 align:start position:0% your compatibility we want to make it be 00:18:19.289 --> 00:18:20.690 align:start position:0% your compatibility we want to make it be the<00:18:19.409> case<00:18:19.619> that<00:18:19.769> if<00:18:19.889> theorem<00:18:20.190> can<00:18:20.369> have<00:18:20.519> the 00:18:20.690 --> 00:18:20.700 align:start position:0% the case that if theorem can have the 00:18:20.700 --> 00:18:22.070 align:start position:0% the case that if theorem can have the end<00:18:20.820> of<00:18:20.879> the<00:18:20.940> best-in-class<00:18:21.330> state<00:18:21.749> channels 00:18:22.070 --> 00:18:22.080 align:start position:0% end of the best-in-class state channels 00:18:22.080 --> 00:18:24.409 align:start position:0% end of the best-in-class state channels protocol<00:18:22.529> before<00:18:23.279> any<00:18:23.580> other<00:18:23.639> chain<00:18:24.059> and<00:18:24.299> that 00:18:24.409 --> 00:18:24.419 align:start position:0% protocol before any other chain and that 00:18:24.419 --> 00:18:26.749 align:start position:0% protocol before any other chain and that we<00:18:24.539> can<00:18:24.690> do<00:18:24.869> this<00:18:25.070> basically<00:18:26.070> together<00:18:26.429> and<00:18:26.669> be 00:18:26.749 --> 00:18:26.759 align:start position:0% we can do this basically together and be 00:18:26.759 --> 00:18:29.980 align:start position:0% we can do this basically together and be interoperable<00:18:26.970> with<00:18:27.570> each<00:18:27.690> other<00:18:27.869> software 00:18:29.980 --> 00:18:29.990 align:start position:0% interoperable with each other software 00:18:29.990 --> 00:18:32.539 align:start position:0% interoperable with each other software great<00:18:30.990> so<00:18:31.200> who's<00:18:31.679> involved<00:18:32.100> in<00:18:32.190> this<00:18:32.309> I 00:18:32.539 --> 00:18:32.549 align:start position:0% great so who's involved in this I 00:18:32.549 --> 00:18:34.850 align:start position:0% great so who's involved in this I mentioned<00:18:33.119> it's<00:18:33.210> an<00:18:33.269> open<00:18:33.480> source<00:18:33.690> project<00:18:33.869> I 00:18:34.850 --> 00:18:34.860 align:start position:0% mentioned it's an open source project I 00:18:34.860 --> 00:18:36.499 align:start position:0% mentioned it's an open source project I do<00:18:35.340> want<00:18:35.549> to<00:18:35.610> give<00:18:35.730> kudos<00:18:36.029> to<00:18:36.149> a<00:18:36.210> bunch<00:18:36.389> of 00:18:36.499 --> 00:18:36.509 align:start position:0% do want to give kudos to a bunch of 00:18:36.509 --> 00:18:38.749 align:start position:0% do want to give kudos to a bunch of people<00:18:36.659> this<00:18:37.019> is<00:18:37.289> right<00:18:37.950> now<00:18:38.129> mostly<00:18:38.490> been<00:18:38.669> a 00:18:38.749 --> 00:18:38.759 align:start position:0% people this is right now mostly been a 00:18:38.759 --> 00:18:40.700 align:start position:0% people this is right now mostly been a collaboration<00:18:39.179> between<00:18:39.389> l4<00:18:39.749> and<00:18:40.289> and<00:18:40.499> I'm 00:18:40.700 --> 00:18:40.710 align:start position:0% collaboration between l4 and and I'm 00:18:40.710 --> 00:18:43.190 align:start position:0% collaboration between l4 and and I'm prototype<00:18:41.220> ol<00:18:41.539> handful<00:18:42.539> of<00:18:42.690> people<00:18:42.840> from<00:18:43.139> each 00:18:43.190 --> 00:18:43.200 align:start position:0% prototype ol handful of people from each 00:18:43.200 --> 00:18:44.570 align:start position:0% prototype ol handful of people from each of<00:18:43.350> the<00:18:43.440> teams<00:18:43.710> and<00:18:43.950> a<00:18:44.009> bunch<00:18:44.220> of<00:18:44.309> independent 00:18:44.570 --> 00:18:44.580 align:start position:0% of the teams and a bunch of independent 00:18:44.580 --> 00:18:47.269 align:start position:0% of the teams and a bunch of independent contributors<00:18:45.529> we<00:18:46.529> recently<00:18:46.769> even<00:18:47.009> had<00:18:47.249> a 00:18:47.269 --> 00:18:47.279 align:start position:0% contributors we recently even had a 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position:0% same general vision of like let's take all<00:18:54.240> these<00:18:54.360> ideas<00:18:54.509> have<00:18:55.019> a<00:18:55.080> common<00:18:55.499> place<00:18:56.009> that 00:18:56.149 --> 00:18:56.159 align:start position:0% all these ideas have a common place that 00:18:56.159 --> 00:18:57.680 align:start position:0% all these ideas have a common place that we<00:18:56.249> can<00:18:56.369> write<00:18:56.490> them<00:18:56.639> down<00:18:56.789> and<00:18:57.059> make 00:18:57.680 --> 00:18:57.690 align:start position:0% we can write them down and make 00:18:57.690 --> 00:18:59.869 align:start position:0% we can write them down and make something<00:18:57.899> that<00:18:58.110> people<00:18:58.139> can<00:18:58.470> use<00:18:58.639> so<00:18:59.639> really 00:18:59.869 --> 00:18:59.879 align:start position:0% something that people can use so really 00:18:59.879 --> 00:19:01.340 align:start position:0% something that people can use so really thanks<00:19:00.119> to<00:19:00.179> everyone<00:19:00.509> that's<00:19:00.600> contributed 00:19:01.340 --> 00:19:01.350 align:start position:0% thanks to everyone that's contributed 00:19:01.350 --> 00:19:04.070 align:start position:0% thanks to everyone that's contributed over<00:19:01.440> the<00:19:01.529> year<00:19:02.600> and<00:19:03.600> we're<00:19:03.720> also<00:19:03.840> working 00:19:04.070 --> 00:19:04.080 align:start position:0% over the year and we're also working 00:19:04.080 --> 00:19:05.840 align:start position:0% over the year and we're also working with<00:19:04.200> some<00:19:04.409> of<00:19:04.529> the<00:19:04.590> best<00:19:04.740> we've<00:19:05.009> over<00:19:05.759> the 00:19:05.840 --> 00:19:05.850 align:start position:0% with some of the best we've over the 00:19:05.850 --> 00:19:07.369 align:start position:0% with some of the best we've over the past<00:19:06.119> year<00:19:06.389> we<00:19:06.539> spent<00:19:06.749> a<00:19:06.809> bunch<00:19:07.019> of<00:19:07.110> time<00:19:07.169> with 00:19:07.369 --> 00:19:07.379 align:start position:0% past year we spent a bunch of time with 00:19:07.379 --> 00:19:10.369 align:start position:0% past year we spent a bunch of time with a<00:19:07.799> lot<00:19:08.190> of<00:19:08.279> great<00:19:08.490> people<00:19:08.669> in<00:19:08.850> this<00:19:08.970> space<00:19:09.379> met 00:19:10.369 --> 00:19:10.379 align:start position:0% a lot of great people in this space met 00:19:10.379 --> 00:19:11.659 align:start position:0% a lot of great people in this space met at<00:19:10.499> mass<00:19:10.649> we've<00:19:10.889> been<00:19:11.009> recent<00:19:11.309> spending<00:19:11.519> a<00:19:11.549> ton 00:19:11.659 --> 00:19:11.669 align:start position:0% at mass we've been recent spending a ton 00:19:11.669 --> 00:19:12.649 align:start position:0% at mass we've been recent spending a ton of<00:19:11.730> time<00:19:11.970> with<00:19:11.999> trying<00:19:12.299> to<00:19:12.389> figure<00:19:12.570> out 00:19:12.649 --> 00:19:12.659 align:start position:0% of time with trying to figure out 00:19:12.659 --> 00:19:14.389 align:start position:0% of time with trying to figure out practically<00:19:13.590> how<00:19:13.740> are<00:19:13.799> we<00:19:13.919> going<00:19:14.100> to<00:19:14.159> get<00:19:14.220> this 00:19:14.389 --> 00:19:14.399 align:start position:0% practically how are we going to get this 00:19:14.399 --> 00:19:16.269 align:start position:0% practically how are we going to get this implemented<00:19:14.730> in<00:19:14.970> Webb<00:19:15.119> Wallace<00:19:15.419> today 00:19:16.269 --> 00:19:16.279 align:start position:0% implemented in Webb Wallace today 00:19:16.279 --> 00:19:18.470 align:start position:0% implemented in Webb Wallace today cellular<00:19:17.279> network<00:19:17.610> and<00:19:17.909> we<00:19:17.970> spent<00:19:18.210> a<00:19:18.299> ton<00:19:18.419> of 00:19:18.470 --> 00:19:18.480 align:start position:0% cellular network and we spent a ton of 00:19:18.480 --> 00:19:20.509 align:start position:0% cellular network and we spent a ton of time<00:19:18.600> with<00:19:18.869> Moses<00:19:19.169> pesha<00:19:19.409> Lee<00:19:19.649> looking<00:19:20.309> at<00:19:20.429> the 00:19:20.509 --> 00:19:20.519 align:start position:0% time with Moses pesha Lee looking at the 00:19:20.519 --> 00:19:22.220 align:start position:0% time with Moses pesha Lee looking at the actual<00:19:20.879> underlying<00:19:21.119> research<00:19:21.600> of<00:19:21.990> how<00:19:22.169> you 00:19:22.220 --> 00:19:22.230 align:start position:0% actual underlying research of how you 00:19:22.230 --> 00:19:24.109 align:start position:0% actual underlying research of how you build<00:19:22.379> generalized<00:19:22.860> state<00:19:23.009> channels<00:19:23.429> we're 00:19:24.109 --> 00:19:24.119 align:start position:0% build generalized state channels we're 00:19:24.119 --> 00:19:25.489 align:start position:0% build generalized state channels we're hoping<00:19:24.419> we<00:19:24.539> can<00:19:24.570> arrive<00:19:24.929> at<00:19:25.169> common 00:19:25.489 --> 00:19:25.499 align:start position:0% hoping we can arrive at common 00:19:25.499 --> 00:19:27.249 align:start position:0% hoping we can arrive at common interfaces<00:19:25.860> over<00:19:26.610> the<00:19:26.700> next<00:19:26.850> little<00:19:26.999> while 00:19:27.249 --> 00:19:27.259 align:start position:0% interfaces over the next little while 00:19:27.259 --> 00:19:29.960 align:start position:0% interfaces over the next little while Pisa<00:19:28.259> which<00:19:28.710> has<00:19:28.860> done<00:19:29.009> a<00:19:29.039> phenomenal<00:19:29.340> job<00:19:29.669> and 00:19:29.960 --> 00:19:29.970 align:start position:0% Pisa which has done a phenomenal job and 00:19:29.970 --> 00:19:31.340 align:start position:0% Pisa which has done a phenomenal job and they're<00:19:30.059> speaking<00:19:30.419> later<00:19:30.570> about<00:19:30.899> how<00:19:31.080> to<00:19:31.230> do 00:19:31.340 --> 00:19:31.350 align:start position:0% they're speaking later about how to do 00:19:31.350 --> 00:19:33.350 align:start position:0% they're speaking later about how to do really<00:19:31.740> optimal<00:19:32.159> watchtowers<00:19:32.700> with<00:19:33.210> say 00:19:33.350 --> 00:19:33.360 align:start position:0% really optimal watchtowers with say 00:19:33.360 --> 00:19:34.730 align:start position:0% really optimal watchtowers with say channels<00:19:33.690> we're<00:19:34.110> also<00:19:34.230> going<00:19:34.440> to<00:19:34.499> try<00:19:34.649> and 00:19:34.730 --> 00:19:34.740 align:start position:0% channels we're also going to try and 00:19:34.740 --> 00:19:37.430 align:start position:0% channels we're also going to try and fold<00:19:34.889> that<00:19:35.070> in<00:19:35.419> and<00:19:36.419> magma<00:19:36.690> as<00:19:37.169> well<00:19:37.409> a 00:19:37.430 --> 00:19:37.440 align:start position:0% fold that in and magma as well a 00:19:37.440 --> 00:19:39.080 align:start position:0% fold that in and magma as well a phenomenal<00:19:38.039> kind<00:19:38.309> of<00:19:38.369> state<00:19:38.759> channels 00:19:39.080 --> 00:19:39.090 align:start position:0% phenomenal kind of state channels 00:19:39.090 --> 00:19:41.629 align:start position:0% phenomenal kind of state channels engineering<00:19:39.840> team<00:19:40.049> with<00:19:40.919> through<00:19:41.309> which<00:19:41.490> a 00:19:41.629 --> 00:19:41.639 align:start position:0% engineering team with through which a 00:19:41.639 --> 00:19:42.769 align:start position:0% engineering team with through which a lot<00:19:41.789> of<00:19:41.879> the<00:19:41.970> state<00:19:42.149> channel<00:19:42.450> our<00:19:42.600> state 00:19:42.769 --> 00:19:42.779 align:start position:0% lot of the state channel our state 00:19:42.779 --> 00:19:44.659 align:start position:0% lot of the state channel our state machine<00:19:42.899> based<00:19:43.379> designs<00:19:43.710> have<00:19:44.220> been<00:19:44.369> kind<00:19:44.580> of 00:19:44.659 --> 00:19:44.669 align:start position:0% machine based designs have been kind of 00:19:44.669 --> 00:19:47.930 align:start position:0% machine based designs have been kind of inspired<00:19:45.210> by<00:19:45.830> so<00:19:46.830> yeah<00:19:47.340> if<00:19:47.460> you<00:19:47.580> want<00:19:47.759> to<00:19:47.820> get 00:19:47.930 --> 00:19:47.940 align:start position:0% inspired by so yeah if you want to get 00:19:47.940 --> 00:19:50.180 align:start position:0% inspired by so yeah if you want to get involved<00:19:48.389> we<00:19:49.379> have<00:19:49.499> a<00:19:49.529> bunch<00:19:49.740> of<00:19:49.799> code<00:19:50.039> on 00:19:50.180 --> 00:19:50.190 align:start position:0% involved we have a bunch of code on 00:19:50.190 --> 00:19:51.499 align:start position:0% involved we have a bunch of code on github<00:19:50.340> we<00:19:50.730> just<00:19:50.909> released<00:19:51.149> a<00:19:51.210> whole<00:19:51.330> bunch 00:19:51.499 --> 00:19:51.509 align:start position:0% github we just released a whole bunch 00:19:51.509 --> 00:19:53.629 align:start position:0% github we just released a whole bunch recently<00:19:51.990> as<00:19:52.080> well<00:19:52.320> the<00:19:52.799> whole<00:19:52.950> everything<00:19:53.519> I 00:19:53.629 --> 00:19:53.639 align:start position:0% recently as well the whole everything I 00:19:53.639 --> 00:19:55.399 align:start position:0% recently as well the whole everything I just<00:19:53.669> mentioned<00:19:53.850> is<00:19:54.299> a<00:19:54.330> full<00:19:54.779> implementations 00:19:55.399 --> 00:19:55.409 align:start position:0% just mentioned is a full implementations 00:19:55.409 --> 00:19:57.590 align:start position:0% just mentioned is a full implementations of<00:19:55.559> and<00:19:55.769> then<00:19:55.859> we<00:19:55.919> have<00:19:56.070> running<00:19:56.480> we<00:19:57.480> don't 00:19:57.590 --> 00:19:57.600 align:start position:0% of and then we have running we don't 00:19:57.600 --> 00:19:59.240 align:start position:0% of and then we have running we don't have<00:19:57.720> a<00:19:57.779> big<00:19:57.990> demo<00:19:58.529> environment<00:19:58.649> yet 00:19:59.240 --> 00:19:59.250 align:start position:0% have a big demo environment yet 00:19:59.250 --> 00:20:00.530 align:start position:0% have a big demo environment yet it's<00:19:59.340> one<00:19:59.460> of<00:19:59.550> our<00:19:59.640> major<00:19:59.790> kind<00:20:00.060> of<00:20:00.120> next<00:20:00.360> goal 00:20:00.530 --> 00:20:00.540 align:start position:0% it's one of our major kind of next goal 00:20:00.540 --> 00:20:01.880 align:start position:0% it's one of our major kind of next goal but<00:20:00.690> we<00:20:00.780> do<00:20:00.900> have<00:20:01.050> it<00:20:01.200> running<00:20:01.440> locally<00:20:01.770> and 00:20:01.880 --> 00:20:01.890 align:start position:0% but we do have it running locally and 00:20:01.890 --> 00:20:04.460 align:start position:0% but we do have it running locally and you<00:20:01.950> can<00:20:02.100> test<00:20:02.280> it<00:20:02.400> out<00:20:02.690> and<00:20:03.690> we're<00:20:04.260> actively 00:20:04.460 --> 00:20:04.470 align:start position:0% you can test it out and we're actively 00:20:04.470 --> 00:20:07.760 align:start position:0% you can test it out and we're actively developing<00:20:05.100> this<00:20:05.250> very<00:20:05.850> fast<00:20:06.090> pace<00:20:06.360> if<00:20:07.020> you 00:20:07.760 --> 00:20:07.770 align:start position:0% developing this very fast pace if you 00:20:07.770 --> 00:20:09.230 align:start position:0% developing this very fast pace if you want<00:20:07.920> to<00:20:07.980> chat<00:20:08.160> with<00:20:08.280> us<00:20:08.460> who<00:20:08.700> are<00:20:08.790> available 00:20:09.230 --> 00:20:09.240 align:start position:0% want to chat with us who are available 00:20:09.240 --> 00:20:10.460 align:start position:0% want to chat with us who are available all<00:20:09.330> the<00:20:09.360> time<00:20:09.630> you<00:20:09.810> can<00:20:09.930> go<00:20:10.020> to<00:20:10.080> our<00:20:10.140> chat 00:20:10.460 --> 00:20:10.470 align:start position:0% all the time you can go to our chat 00:20:10.470 --> 00:20:12.470 align:start position:0% all the time you can go to our chat group<00:20:10.710> counterfactual<00:20:11.610> comm<00:20:11.910> slash<00:20:12.210> chat 00:20:12.470 --> 00:20:12.480 align:start position:0% group counterfactual comm slash chat 00:20:12.480 --> 00:20:14.180 align:start position:0% group counterfactual comm slash chat we're<00:20:13.470> very<00:20:13.680> friendly 00:20:14.180 --> 00:20:14.190 align:start position:0% we're very friendly 00:20:14.190 --> 00:20:17.480 align:start position:0% we're very friendly we<00:20:14.310> really<00:20:15.300> just<00:20:15.330> we<00:20:15.960> want<00:20:16.140> to<00:20:16.170> like<00:20:16.460> try<00:20:17.460> to 00:20:17.480 --> 00:20:17.490 align:start position:0% we really just we want to like try to 00:20:17.490 --> 00:20:18.500 align:start position:0% we really just we want to like try to help<00:20:17.760> out<00:20:17.880> the<00:20:17.970> community<00:20:18.030> as<00:20:18.300> much<00:20:18.390> as 00:20:18.500 --> 00:20:18.510 align:start position:0% help out the community as much as 00:20:18.510 --> 00:20:19.790 align:start position:0% help out the community as much as possible<00:20:18.690> so<00:20:19.110> you're<00:20:19.290> gonna<00:20:19.380> come<00:20:19.620> in 00:20:19.790 --> 00:20:19.800 align:start position:0% possible so you're gonna come in 00:20:19.800 --> 00:20:22.340 align:start position:0% possible so you're gonna come in whatever<00:20:20.250> you<00:20:20.400> want<00:20:20.430> to<00:20:20.580> talk<00:20:20.700> about<00:20:20.960> and<00:20:21.960> if 00:20:22.340 --> 00:20:22.350 align:start position:0% whatever you want to talk about and if 00:20:22.350 --> 00:20:23.510 align:start position:0% whatever you want to talk about and if you<00:20:22.440> want<00:20:22.560> to<00:20:22.620> just<00:20:22.710> learn<00:20:22.890> more<00:20:22.920> about<00:20:23.190> the 00:20:23.510 --> 00:20:23.520 align:start position:0% you want to just learn more about the 00:20:23.520 --> 00:20:24.980 align:start position:0% you want to just learn more about the the<00:20:23.790> product<00:20:24.150> in<00:20:24.270> general<00:20:24.600> check<00:20:24.750> it<00:20:24.900> out 00:20:24.980 --> 00:20:24.990 align:start position:0% the product in general check it out 00:20:24.990 --> 00:20:28.310 align:start position:0% the product in general check it out counterfactual<00:20:25.680> calm<00:20:26.100> and<00:20:26.840> yeah<00:20:27.840> that's<00:20:28.140> it 00:20:28.310 --> 00:20:28.320 align:start position:0% counterfactual calm and yeah that's it 00:20:28.320 --> 00:20:37.040 align:start position:0% counterfactual calm and yeah that's it thanks<00:20:28.620> so<00:20:28.650> much<00:20:28.770> I<00:20:34.520> do<00:20:35.520> have<00:20:35.820> a<00:20:35.970> minute<00:20:36.330> 20 00:20:37.040 --> 00:20:37.050 align:start position:0% thanks so much I do have a minute 20 00:20:37.050 --> 00:20:38.600 align:start position:0% thanks so much I do have a minute 20 seconds<00:20:37.440> left<00:20:37.560> so<00:20:37.770> if<00:20:37.860> there's<00:20:38.040> a<00:20:38.100> question<00:20:38.280> I 00:20:38.600 --> 00:20:38.610 align:start position:0% seconds left so if there's a question I 00:20:38.610 --> 00:20:41.210 align:start position:0% seconds left so if there's a question I can<00:20:38.760> take<00:20:38.910> one<00:20:39.090> or<00:20:40.050> or<00:20:40.620> I<00:20:40.680> can<00:20:40.920> kind<00:20:41.160> of 00:20:41.210 --> 00:20:41.220 align:start position:0% can take one or or I can kind of 00:20:41.220 --> 00:20:53.060 align:start position:0% can take one or or I can kind of awkwardly<00:20:41.490> walk<00:20:41.730> onstage<00:20:43.040> yeah 00:20:53.060 --> 00:20:53.070 align:start position:0% 00:20:53.070 --> 00:20:55.160 align:start position:0% what's<00:20:53.580> the<00:20:53.850> like<00:20:54.090> 30<00:20:54.390> second<00:20:54.840> different 00:20:55.160 --> 00:20:55.170 align:start position:0% what's the like 30 second different 00:20:55.170 --> 00:20:57.890 align:start position:0% what's the like 30 second different explanation<00:20:55.800> between<00:20:56.220> a<00:20:56.670> state<00:20:57.180> channel<00:20:57.660> and 00:20:57.890 --> 00:20:57.900 align:start position:0% explanation between a state channel and 00:20:57.900 --> 00:21:00.740 align:start position:0% explanation between a state channel and a<00:20:58.020> plasma<00:20:58.260> chain<00:20:58.770> is<00:20:58.920> yeah<00:20:59.190> I<00:21:00.090> had<00:21:00.360> that<00:21:00.390> in<00:21:00.630> the 00:21:00.740 --> 00:21:00.750 align:start position:0% a plasma chain is yeah I had that in the 00:21:00.750 --> 00:21:03.200 align:start position:0% a plasma chain is yeah I had that in the slice<00:21:00.960> there's<00:21:01.710> a<00:21:01.770> first<00:21:02.340> of<00:21:02.490> all<00:21:02.610> there's<00:21:03.150> a 00:21:03.200 --> 00:21:03.210 align:start position:0% slice there's a first of all there's a 00:21:03.210 --> 00:21:05.360 align:start position:0% slice there's a first of all there's a really<00:21:03.510> great<00:21:03.690> talk<00:21:03.930> by<00:21:04.350> the<00:21:04.680> guy<00:21:05.040> who<00:21:05.100> just 00:21:05.360 --> 00:21:05.370 align:start position:0% really great talk by the guy who just 00:21:05.370 --> 00:21:06.560 align:start position:0% really great talk by the guy who just gave<00:21:05.520> you<00:21:05.610> the<00:21:05.700> microphone<00:21:05.820> Josh<00:21:06.270> stark 00:21:06.560 --> 00:21:06.570 align:start position:0% gave you the microphone Josh stark 00:21:06.570 --> 00:21:08.420 align:start position:0% gave you the microphone Josh stark yesterday<00:21:07.380> called<00:21:07.620> making<00:21:07.920> sense<00:21:08.130> of<00:21:08.250> layer 00:21:08.420 --> 00:21:08.430 align:start position:0% yesterday called making sense of layer 00:21:08.430 --> 00:21:10.850 align:start position:0% yesterday called making sense of layer two<00:21:08.640> which<00:21:09.180> gives<00:21:09.210> like<00:21:09.570> the<00:21:09.810> thirty<00:21:10.410> second 00:21:10.850 --> 00:21:10.860 align:start position:0% two which gives like the thirty second 00:21:10.860 --> 00:21:13.460 align:start position:0% two which gives like the thirty second basic<00:21:11.790> difference<00:21:12.390> the<00:21:12.930> way<00:21:13.080> I<00:21:13.110> like<00:21:13.380> to 00:21:13.460 --> 00:21:13.470 align:start position:0% basic difference the way I like to 00:21:13.470 --> 00:21:15.770 align:start position:0% basic difference the way I like to describe<00:21:13.590> it<00:21:14.010> is<00:21:14.100> that<00:21:14.420> from<00:21:15.420> technical 00:21:15.770 --> 00:21:15.780 align:start position:0% describe it is that from technical 00:21:15.780 --> 00:21:17.630 align:start position:0% describe it is that from technical standpoint<00:21:15.960> and<00:21:16.290> state<00:21:16.470> channels<00:21:16.800> a<00:21:16.980> fixed 00:21:17.630 --> 00:21:17.640 align:start position:0% standpoint and state channels a fixed 00:21:17.640 --> 00:21:19.130 align:start position:0% standpoint and state channels a fixed group<00:21:17.760> of<00:21:17.910> people<00:21:18.180> foot<00:21:18.480> state<00:21:18.690> into<00:21:18.960> a<00:21:18.990> non 00:21:19.130 --> 00:21:19.140 align:start position:0% group of people foot state into a non 00:21:19.140 --> 00:21:21.350 align:start position:0% group of people foot state into a non chain<00:21:19.380> contract<00:21:19.800> and<00:21:19.980> then<00:21:20.430> they<00:21:20.850> agree 00:21:21.350 --> 00:21:21.360 align:start position:0% chain contract and then they agree 00:21:21.360 --> 00:21:23.930 align:start position:0% chain contract and then they agree unanimously<00:21:21.810> off<00:21:22.500> chain<00:21:22.800> and<00:21:23.010> at<00:21:23.550> some<00:21:23.730> point 00:21:23.930 --> 00:21:23.940 align:start position:0% unanimously off chain and at some point 00:21:23.940 --> 00:21:26.360 align:start position:0% unanimously off chain and at some point they<00:21:24.210> all<00:21:24.360> go<00:21:24.840> back<00:21:24.960> off<00:21:25.140> take<00:21:25.980> call<00:21:26.130> I<00:21:26.160> stay 00:21:26.360 --> 00:21:26.370 align:start position:0% they all go back off take call I stay 00:21:26.370 --> 00:21:27.740 align:start position:0% they all go back off take call I stay put<00:21:26.580> it<00:21:26.670> back<00:21:26.760> on<00:21:26.910> the<00:21:27.060> chain<00:21:27.240> or<00:21:27.420> their<00:21:27.630> or 00:21:27.740 --> 00:21:27.750 align:start position:0% put it back on the chain or their or 00:21:27.750 --> 00:21:29.900 align:start position:0% put it back on the chain or their or they<00:21:27.870> stay<00:21:27.990> off<00:21:28.110> chain<00:21:28.320> with<00:21:29.010> Platt<00:21:29.550> and<00:21:29.760> it's 00:21:29.900 --> 00:21:29.910 align:start position:0% they stay off chain with Platt and it's 00:21:29.910 --> 00:21:31.520 align:start position:0% they stay off chain with Platt and it's all<00:21:30.120> I've<00:21:30.270> seen<00:21:30.390> the<00:21:30.510> whole<00:21:30.630> time<00:21:30.780> with<00:21:30.990> plasma 00:21:31.520 --> 00:21:31.530 align:start position:0% all I've seen the whole time with plasma 00:21:31.530 --> 00:21:33.560 align:start position:0% all I've seen the whole time with plasma a<00:21:31.650> bunch<00:21:31.860> of<00:21:31.980> people<00:21:32.280> but<00:21:32.580> state<00:21:32.910> into<00:21:33.540> a 00:21:33.560 --> 00:21:33.570 align:start position:0% a bunch of people but state into a 00:21:33.570 --> 00:21:35.630 align:start position:0% a bunch of people but state into a contract<00:21:34.110> and<00:21:34.290> there's<00:21:34.800> two<00:21:34.980> types<00:21:35.250> of<00:21:35.370> people 00:21:35.630 --> 00:21:35.640 align:start position:0% contract and there's two types of people 00:21:35.640 --> 00:21:36.950 align:start position:0% contract and there's two types of people there's<00:21:35.790> an<00:21:35.880> operator<00:21:36.300> and<00:21:36.540> then<00:21:36.690> there's<00:21:36.870> the 00:21:36.950 --> 00:21:36.960 align:start position:0% there's an operator and then there's the 00:21:36.960 --> 00:21:39.590 align:start position:0% there's an operator and then there's the users<00:21:37.290> and<00:21:37.440> the<00:21:37.770> operator<00:21:38.190> periodically<00:21:38.910> puts 00:21:39.590 --> 00:21:39.600 align:start position:0% users and the operator periodically puts 00:21:39.600 --> 00:21:41.630 align:start position:0% users and the operator periodically puts a<00:21:39.690> merkel<00:21:40.020> proof<00:21:40.230> on<00:21:40.470> the<00:21:40.710> chain<00:21:40.920> that<00:21:41.460> lets 00:21:41.630 --> 00:21:41.640 align:start position:0% a merkel proof on the chain that lets 00:21:41.640 --> 00:21:44.120 align:start position:0% a merkel proof on the chain that lets the<00:21:41.760> users<00:21:42.060> have<00:21:42.510> finality<00:21:43.140> so<00:21:43.290> every<00:21:43.680> time 00:21:44.120 --> 00:21:44.130 align:start position:0% the users have finality so every time 00:21:44.130 --> 00:21:45.590 align:start position:0% the users have finality so every time the<00:21:44.310> merkel<00:21:44.550> proof<00:21:44.670> is<00:21:44.790> put<00:21:44.940> on<00:21:45.030> chain<00:21:45.270> that<00:21:45.450> is 00:21:45.590 --> 00:21:45.600 align:start position:0% the merkel proof is put on chain that is 00:21:45.600 --> 00:21:47.180 align:start position:0% the merkel proof is put on chain that is the<00:21:45.750> notion<00:21:46.080> of<00:21:46.200> this<00:21:46.410> is<00:21:46.620> now<00:21:46.740> the<00:21:46.800> final 00:21:47.180 --> 00:21:47.190 align:start position:0% the notion of this is now the final 00:21:47.190 --> 00:21:48.920 align:start position:0% the notion of this is now the final state<00:21:47.400> so<00:21:47.970> there's<00:21:48.120> this<00:21:48.240> periodic<00:21:48.720> check 00:21:48.920 --> 00:21:48.930 align:start position:0% state so there's this periodic check 00:21:48.930 --> 00:21:50.360 align:start position:0% state so there's this periodic check pointing<00:21:49.290> kind<00:21:49.500> of<00:21:49.560> mechanism<00:21:49.980> so<00:21:50.070> the<00:21:50.160> main 00:21:50.360 --> 00:21:50.370 align:start position:0% pointing kind of mechanism so the main 00:21:50.370 --> 00:21:51.980 align:start position:0% pointing kind of mechanism so the main difference<00:21:50.400> is<00:21:50.940> that<00:21:50.970> state<00:21:51.570> channels<00:21:51.870> it's 00:21:51.980 --> 00:21:51.990 align:start position:0% difference is that state channels it's 00:21:51.990 --> 00:21:53.810 align:start position:0% difference is that state channels it's instant<00:21:52.230> finality<00:21:52.620> all<00:21:52.740> the<00:21:52.920> time<00:21:53.160> plasma<00:21:53.700> you 00:21:53.810 --> 00:21:53.820 align:start position:0% instant finality all the time plasma you 00:21:53.820 --> 00:21:55.250 align:start position:0% instant finality all the time plasma you have<00:21:53.940> a<00:21:54.000> bit<00:21:54.120> of<00:21:54.150> a<00:21:54.240> delay<00:21:54.540> because<00:21:54.930> it's<00:21:55.200> a 00:21:55.250 --> 00:21:55.260 align:start position:0% have a bit of a delay because it's a 00:21:55.260 --> 00:21:57.530 align:start position:0% have a bit of a delay because it's a check<00:21:55.410> point<00:21:55.610> and<00:21:56.610> then<00:21:56.880> to<00:21:57.090> technically 00:21:57.530 --> 00:21:57.540 align:start position:0% check point and then to technically 00:21:57.540 --> 00:21:58.670 align:start position:0% check point and then to technically they're<00:21:57.660> implemented<00:21:57.960> differently<00:21:58.290> but 00:21:58.670 --> 00:21:58.680 align:start position:0% they're implemented differently but 00:21:58.680 --> 00:21:59.990 align:start position:0% they're implemented differently but they're<00:21:58.860> both<00:21:58.950> very<00:21:59.190> useful<00:21:59.520> scalability 00:21:59.990 --> 00:22:00.000 align:start position:0% they're both very useful scalability 00:22:00.000 --> 00:22:01.760 align:start position:0% they're both very useful scalability solutions<00:22:00.420> i<00:22:00.600> recommend<00:22:01.200> watching<00:22:01.290> josh's 00:22:01.760 --> 00:22:01.770 align:start position:0% solutions i recommend watching josh's 00:22:01.770 --> 00:22:07.280 align:start position:0% solutions i recommend watching josh's talk<00:22:01.950> though<00:22:03.560> great<00:22:04.560> all<00:22:04.950> right<00:22:05.040> thanks