WEBVTT Kind: captions Language: en 00:00:04.910 --> 00:00:07.450 align:start position:0% I'm<00:00:05.210> coming<00:00:05.930> up<00:00:06.020> first<00:00:06.620> tom<00:00:06.920> was<00:00:06.950> gonna<00:00:07.220> comp 00:00:07.450 --> 00:00:07.460 align:start position:0% I'm coming up first tom was gonna comp 00:00:07.460 --> 00:00:08.500 align:start position:0% I'm coming up first tom was gonna comp it<00:00:07.640> a<00:00:07.670> little<00:00:07.820> bit<00:00:07.970> and<00:00:08.090> we're<00:00:08.180> gonna<00:00:08.270> talk 00:00:08.500 --> 00:00:08.510 align:start position:0% it a little bit and we're gonna talk 00:00:08.510 --> 00:00:10.390 align:start position:0% it a little bit and we're gonna talk about<00:00:08.540> state<00:00:09.260> channels<00:00:09.590> and<00:00:09.920> give<00:00:10.130> some 00:00:10.390 --> 00:00:10.400 align:start position:0% about state channels and give some 00:00:10.400 --> 00:00:12.760 align:start position:0% about state channels and give some updates<00:00:10.520> on<00:00:10.990> what<00:00:11.990> state<00:00:12.200> channels<00:00:12.469> that<00:00:12.590> org 00:00:12.760 --> 00:00:12.770 align:start position:0% updates on what state channels that org 00:00:12.770 --> 00:00:14.289 align:start position:0% updates on what state channels that org is<00:00:13.010> and<00:00:13.250> the<00:00:13.309> latest<00:00:13.549> kind<00:00:13.730> of<00:00:13.790> collaborations 00:00:14.289 --> 00:00:14.299 align:start position:0% is and the latest kind of collaborations 00:00:14.299 --> 00:00:15.640 align:start position:0% is and the latest kind of collaborations that<00:00:14.420> we've<00:00:14.539> been<00:00:14.629> doing<00:00:14.900> and<00:00:15.049> then<00:00:15.469> talk 00:00:15.640 --> 00:00:15.650 align:start position:0% that we've been doing and then talk 00:00:15.650 --> 00:00:17.140 align:start position:0% that we've been doing and then talk about<00:00:15.680> our<00:00:16.010> roadmap<00:00:16.340> kind<00:00:16.550> of<00:00:16.610> going<00:00:16.760> forward 00:00:17.140 --> 00:00:17.150 align:start position:0% about our roadmap kind of going forward 00:00:17.150 --> 00:00:20.050 align:start position:0% about our roadmap kind of going forward so<00:00:17.420> I<00:00:17.690> get<00:00:18.140> as<00:00:18.260> mentioned<00:00:18.730> what's<00:00:19.730> going<00:00:19.970> on 00:00:20.050 --> 00:00:20.060 align:start position:0% so I get as mentioned what's going on 00:00:20.060 --> 00:00:21.939 align:start position:0% so I get as mentioned what's going on the<00:00:20.150> state<00:00:20.300> channels<00:00:20.630> where<00:00:21.170> we<00:00:21.320> going 00:00:21.939 --> 00:00:21.949 align:start position:0% the state channels where we going 00:00:21.949 --> 00:00:24.820 align:start position:0% the state channels where we going what<00:00:22.429> do<00:00:22.640> you<00:00:22.699> excited<00:00:23.029> about<00:00:23.230> so<00:00:24.230> State 00:00:24.820 --> 00:00:24.830 align:start position:0% what do you excited about so State 00:00:24.830 --> 00:00:26.230 align:start position:0% what do you excited about so State Channel<00:00:25.130> org<00:00:25.429> you<00:00:25.550> may<00:00:25.730> have<00:00:25.849> seen<00:00:26.060> this 00:00:26.230 --> 00:00:26.240 align:start position:0% Channel org you may have seen this 00:00:26.240 --> 00:00:27.759 align:start position:0% Channel org you may have seen this website<00:00:26.599> at<00:00:26.689> some<00:00:26.869> point<00:00:27.080> it<00:00:27.289> was<00:00:27.349> on<00:00:27.500> Twitter 00:00:27.759 --> 00:00:27.769 align:start position:0% website at some point it was on Twitter 00:00:27.769 --> 00:00:30.310 align:start position:0% website at some point it was on Twitter some<00:00:28.490> talk<00:00:28.670> about<00:00:28.970> it<00:00:29.150> what<00:00:29.869> we're<00:00:30.019> mostly 00:00:30.310 --> 00:00:30.320 align:start position:0% some talk about it what we're mostly 00:00:30.320 --> 00:00:31.689 align:start position:0% some talk about it what we're mostly doing<00:00:30.679> here<00:00:30.949> is<00:00:31.070> we're<00:00:31.279> trying<00:00:31.519> to 00:00:31.689 --> 00:00:31.699 align:start position:0% doing here is we're trying to 00:00:31.699 --> 00:00:33.490 align:start position:0% doing here is we're trying to standardize<00:00:32.450> the<00:00:32.660> way<00:00:32.689> the<00:00:32.990> state<00:00:33.200> channels 00:00:33.490 --> 00:00:33.500 align:start position:0% standardize the way the state channels 00:00:33.500 --> 00:00:36.640 align:start position:0% standardize the way the state channels work<00:00:33.740> in<00:00:34.010> this<00:00:34.370> industry<00:00:35.080> myself<00:00:36.080> and<00:00:36.290> Tom<00:00:36.470> and 00:00:36.640 --> 00:00:36.650 align:start position:0% work in this industry myself and Tom and 00:00:36.650 --> 00:00:38.860 align:start position:0% work in this industry myself and Tom and a<00:00:37.430> bunch<00:00:37.730> of<00:00:37.820> others<00:00:38.059> will<00:00:38.210> show<00:00:38.390> in<00:00:38.480> a<00:00:38.539> second 00:00:38.860 --> 00:00:38.870 align:start position:0% a bunch of others will show in a second 00:00:38.870 --> 00:00:40.479 align:start position:0% a bunch of others will show in a second have<00:00:38.960> all<00:00:39.079> been<00:00:39.260> working<00:00:39.379> on<00:00:39.680> this<00:00:39.860> first<00:00:40.129> like 00:00:40.479 --> 00:00:40.489 align:start position:0% have all been working on this first like 00:00:40.489 --> 00:00:42.369 align:start position:0% have all been working on this first like a<00:00:40.700> couple<00:00:41.270> years<00:00:41.450> now<00:00:41.750> and<00:00:42.079> there's<00:00:42.230> been<00:00:42.350> a 00:00:42.369 --> 00:00:42.379 align:start position:0% a couple years now and there's been a 00:00:42.379 --> 00:00:44.260 align:start position:0% a couple years now and there's been a lot<00:00:42.620> of<00:00:42.680> progress<00:00:43.100> across<00:00:43.610> the<00:00:43.820> tech<00:00:44.030> stack 00:00:44.260 --> 00:00:44.270 align:start position:0% lot of progress across the tech stack 00:00:44.270 --> 00:00:47.200 align:start position:0% lot of progress across the tech stack and<00:00:44.539> it's<00:00:45.469> come<00:00:45.739> to<00:00:45.920> be<00:00:46.100> the<00:00:46.250> point<00:00:46.489> where<00:00:46.789> we 00:00:47.200 --> 00:00:47.210 align:start position:0% and it's come to be the point where we 00:00:47.210 --> 00:00:48.850 align:start position:0% and it's come to be the point where we can<00:00:47.420> begin<00:00:47.539> standardizing<00:00:48.410> a<00:00:48.500> lot<00:00:48.680> of<00:00:48.770> the 00:00:48.850 --> 00:00:48.860 align:start position:0% can begin standardizing a lot of the 00:00:48.860 --> 00:00:50.380 align:start position:0% can begin standardizing a lot of the lower<00:00:49.010> level<00:00:49.370> primitives<00:00:49.579> and<00:00:50.000> working<00:00:50.270> our 00:00:50.380 --> 00:00:50.390 align:start position:0% lower level primitives and working our 00:00:50.390 --> 00:00:52.389 align:start position:0% lower level primitives and working our way<00:00:50.420> up<00:00:50.539> towards<00:00:51.079> something<00:00:51.379> that<00:00:51.559> got<00:00:52.190> a<00:00:52.219> mass 00:00:52.389 --> 00:00:52.399 align:start position:0% way up towards something that got a mass 00:00:52.399 --> 00:00:55.209 align:start position:0% way up towards something that got a mass adoption<00:00:52.640> by<00:00:53.629> taps<00:00:54.199> trying<00:00:54.530> to<00:00:54.649> get<00:00:54.890> benefit 00:00:55.209 --> 00:00:55.219 align:start position:0% adoption by taps trying to get benefit 00:00:55.219 --> 00:00:56.529 align:start position:0% adoption by taps trying to get benefit from<00:00:55.309> this<00:00:55.430> technology<00:00:55.550> in<00:00:56.090> the<00:00:56.269> in<00:00:56.420> the 00:00:56.529 --> 00:00:56.539 align:start position:0% from this technology in the in the 00:00:56.539 --> 00:00:59.529 align:start position:0% from this technology in the in the coming<00:00:56.690> year<00:00:56.989> so<00:00:57.859> about<00:00:58.760> I<00:00:59.120> don't<00:00:59.329> know<00:00:59.420> if 00:00:59.529 --> 00:00:59.539 align:start position:0% coming year so about I don't know if 00:00:59.539 --> 00:01:01.660 align:start position:0% coming year so about I don't know if four<00:00:59.780> or<00:00:59.899> five<00:01:00.079> months<00:01:00.350> ago<00:01:00.469> we<00:01:00.859> all<00:01:01.219> went<00:01:01.460> to 00:01:01.660 --> 00:01:01.670 align:start position:0% four or five months ago we all went to 00:01:01.670 --> 00:01:03.430 align:start position:0% four or five months ago we all went to New<00:01:01.789> York<00:01:01.969> together<00:01:02.120> for<00:01:02.660> an<00:01:02.960> event<00:01:03.230> called 00:01:03.430 --> 00:01:03.440 align:start position:0% New York together for an event called 00:01:03.440 --> 00:01:05.410 align:start position:0% New York together for an event called East<00:01:03.590> New<00:01:03.739> York<00:01:03.769> and<00:01:04.760> doing<00:01:05.030> New<00:01:05.269> York 00:01:05.410 --> 00:01:05.420 align:start position:0% East New York and doing New York 00:01:05.420 --> 00:01:08.230 align:start position:0% East New York and doing New York blockchain<00:01:05.810> week<00:01:05.960> and<00:01:06.590> you<00:01:06.770> can<00:01:06.920> see<00:01:07.100> here<00:01:07.460> we 00:01:08.230 --> 00:01:08.240 align:start position:0% blockchain week and you can see here we 00:01:08.240 --> 00:01:09.490 align:start position:0% blockchain week and you can see here we have<00:01:08.360> people<00:01:08.540> from<00:01:08.630> the<00:01:08.750> etherium<00:01:09.020> foundation 00:01:09.490 --> 00:01:09.500 align:start position:0% have people from the etherium foundation 00:01:09.500 --> 00:01:11.890 align:start position:0% have people from the etherium foundation from<00:01:09.710> prune<00:01:10.009> from<00:01:10.280> cellar<00:01:10.549> from<00:01:11.119> Maggie<00:01:11.540> mocha 00:01:11.890 --> 00:01:11.900 align:start position:0% from prune from cellar from Maggie mocha 00:01:11.900 --> 00:01:13.929 align:start position:0% from prune from cellar from Maggie mocha next<00:01:12.170> a<00:01:12.259> bunch<00:01:12.439> of<00:01:12.590> companies<00:01:13.009> all<00:01:13.490> together 00:01:13.929 --> 00:01:13.939 align:start position:0% next a bunch of companies all together 00:01:13.939 --> 00:01:15.160 align:start position:0% next a bunch of companies all together we<00:01:14.150> had<00:01:14.270> a<00:01:14.299> bit<00:01:14.450> of<00:01:14.540> like<00:01:14.630> a<00:01:14.659> state<00:01:14.869> channel 00:01:15.160 --> 00:01:15.170 align:start position:0% we had a bit of like a state channel 00:01:15.170 --> 00:01:16.929 align:start position:0% we had a bit of like a state channel summit<00:01:15.530> we<00:01:15.979> got<00:01:16.220> literally<00:01:16.430> gotten<00:01:16.790> through<00:01:16.909> a 00:01:16.929 --> 00:01:16.939 align:start position:0% summit we got literally gotten through a 00:01:16.939 --> 00:01:18.280 align:start position:0% summit we got literally gotten through a room<00:01:17.150> and<00:01:17.270> we<00:01:17.360> said<00:01:17.509> okay<00:01:17.659> look<00:01:17.810> what<00:01:18.110> are<00:01:18.200> we 00:01:18.280 --> 00:01:18.290 align:start position:0% room and we said okay look what are we 00:01:18.290 --> 00:01:19.630 align:start position:0% room and we said okay look what are we doing<00:01:18.560> why<00:01:18.740> aren't<00:01:18.920> we<00:01:18.979> collaborate<00:01:19.340> anymore 00:01:19.630 --> 00:01:19.640 align:start position:0% doing why aren't we collaborate anymore 00:01:19.640 --> 00:01:21.550 align:start position:0% doing why aren't we collaborate anymore why<00:01:20.000> are<00:01:20.060> we<00:01:20.270> kind<00:01:20.420> of<00:01:20.540> all<00:01:20.840> rehashing<00:01:21.500> the 00:01:21.550 --> 00:01:21.560 align:start position:0% why are we kind of all rehashing the 00:01:21.560 --> 00:01:23.230 align:start position:0% why are we kind of all rehashing the same<00:01:21.710> work<00:01:21.860> together<00:01:22.040> and<00:01:22.369> we<00:01:22.820> had<00:01:22.939> a<00:01:22.970> lot<00:01:23.210> of 00:01:23.230 --> 00:01:23.240 align:start position:0% same work together and we had a lot of 00:01:23.240 --> 00:01:26.890 align:start position:0% same work together and we had a lot of like<00:01:23.509> really<00:01:23.689> great<00:01:23.990> results<00:01:25.360> one<00:01:26.360> thing<00:01:26.659> that 00:01:26.890 --> 00:01:26.900 align:start position:0% like really great results one thing that 00:01:26.900 --> 00:01:28.330 align:start position:0% like really great results one thing that is<00:01:27.140> important<00:01:27.920> to<00:01:27.979> note<00:01:28.159> is<00:01:28.310> that 00:01:28.330 --> 00:01:28.340 align:start position:0% is important to note is that 00:01:28.340 --> 00:01:30.789 align:start position:0% is important to note is that standardization<00:01:29.329> sometimes<00:01:29.780> can<00:01:30.020> be<00:01:30.530> kind<00:01:30.710> of 00:01:30.789 --> 00:01:30.799 align:start position:0% standardization sometimes can be kind of 00:01:30.799 --> 00:01:32.440 align:start position:0% standardization sometimes can be kind of critiqued<00:01:31.159> whether<00:01:31.700> you're<00:01:32.119> looking<00:01:32.210> at<00:01:32.390> it 00:01:32.440 --> 00:01:32.450 align:start position:0% critiqued whether you're looking at it 00:01:32.450 --> 00:01:33.789 align:start position:0% critiqued whether you're looking at it from<00:01:32.509> a<00:01:32.630> VC<00:01:32.780> perspective<00:01:33.439> where<00:01:33.590> you<00:01:33.649> might 00:01:33.789 --> 00:01:33.799 align:start position:0% from a VC perspective where you might 00:01:33.799 --> 00:01:35.560 align:start position:0% from a VC perspective where you might want<00:01:33.829> to<00:01:33.979> see<00:01:34.159> what<00:01:34.399> you<00:01:34.460> know<00:01:34.549> one<00:01:35.060> killer<00:01:35.360> app 00:01:35.560 --> 00:01:35.570 align:start position:0% want to see what you know one killer app 00:01:35.570 --> 00:01:37.719 align:start position:0% want to see what you know one killer app dominate<00:01:36.140> the<00:01:36.259> industry<00:01:36.290> first<00:01:36.860> until<00:01:37.700> you 00:01:37.719 --> 00:01:37.729 align:start position:0% dominate the industry first until you 00:01:37.729 --> 00:01:39.520 align:start position:0% dominate the industry first until you see<00:01:38.149> some<00:01:38.329> standards<00:01:38.689> a<00:01:38.750> dot<00:01:38.930> I<00:01:39.110> get<00:01:39.350> adopted 00:01:39.520 --> 00:01:39.530 align:start position:0% see some standards a dot I get adopted 00:01:39.530 --> 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interfaces<00:01:47.210> early<00:01:47.509> on<00:01:47.659> has<00:01:48.229> led 00:01:48.490 --> 00:01:48.500 align:start position:0% and defining interfaces early on has led 00:01:48.500 --> 00:01:50.350 align:start position:0% and defining interfaces early on has led to<00:01:48.619> some<00:01:48.770> of<00:01:48.799> the<00:01:48.950> biggest<00:01:49.130> actual<00:01:49.850> booms<00:01:50.119> in 00:01:50.350 --> 00:01:50.360 align:start position:0% to some of the biggest actual booms in 00:01:50.360 --> 00:01:51.160 align:start position:0% to some of the biggest actual booms in the<00:01:50.420> entire<00:01:50.750> industry 00:01:51.160 --> 00:01:51.170 align:start position:0% the entire industry 00:01:51.170 --> 00:01:54.399 align:start position:0% the entire industry you<00:01:51.619> know<00:01:51.710> most<00:01:51.950> notably<00:01:52.399> ERC<00:01:53.090> 20<00:01:53.509> right<00:01:54.140> after 00:01:54.399 --> 00:01:54.409 align:start position:0% you know most notably ERC 20 right after 00:01:54.409 --> 00:01:55.569 align:start position:0% you know most notably ERC 20 right after that<00:01:54.530> was<00:01:54.680> you<00:01:54.860> know<00:01:54.979> begun<00:01:55.310> to<00:01:55.490> get 00:01:55.569 --> 00:01:55.579 align:start position:0% that was you know begun to get 00:01:55.579 --> 00:01:56.889 align:start position:0% that was you know begun to get standardized<00:01:56.090> is<00:01:56.210> when<00:01:56.360> we<00:01:56.450> saw<00:01:56.659> this 00:01:56.889 --> 00:01:56.899 align:start position:0% standardized is when we saw this 00:01:56.899 --> 00:01:58.749 align:start position:0% standardized is when we saw this ridiculous<00:01:57.380> boom<00:01:57.619> you<00:01:57.950> know<00:01:58.009> which<00:01:58.189> for<00:01:58.700> the 00:01:58.749 --> 00:01:58.759 align:start position:0% ridiculous boom you know which for the 00:01:58.759 --> 00:02:00.399 align:start position:0% ridiculous boom you know which for the most<00:01:58.939> parts<00:01:59.240> finance<00:01:59.630> took<00:01:59.869> a<00:01:59.960> lot<00:02:00.140> of<00:02:00.170> our 00:02:00.399 --> 00:02:00.409 align:start position:0% most parts finance took a lot of our 00:02:00.409 --> 00:02:01.779 align:start position:0% most parts finance took a lot of our actual<00:02:00.680> operations<00:02:01.159> here<00:02:01.310> in<00:02:01.340> the<00:02:01.460> industry 00:02:01.779 --> 00:02:01.789 align:start position:0% actual operations here in the industry 00:02:01.789 --> 00:02:04.480 align:start position:0% actual operations here in the industry we've<00:02:02.420> seen<00:02:02.630> here<00:02:02.750> see<00:02:02.930> 27<00:02:03.380> 21<00:02:03.619> lead<00:02:04.100> to<00:02:04.310> like 00:02:04.480 --> 00:02:04.490 align:start position:0% we've seen here see 27 21 lead to like 00:02:04.490 --> 00:02:06.730 align:start position:0% we've seen here see 27 21 lead to like standard<00:02:04.990> marketplaces<00:02:05.990> for<00:02:06.170> collectibles 00:02:06.730 --> 00:02:06.740 align:start position:0% standard marketplaces for collectibles 00:02:06.740 --> 00:02:09.580 align:start position:0% standard marketplaces for collectibles we've<00:02:07.070> seen<00:02:07.310> 7<00:02:07.640> 12<00:02:07.909> lead<00:02:08.210> the<00:02:08.330> standard<00:02:08.660> wallet 00:02:09.580 --> 00:02:09.590 align:start position:0% we've seen 7 12 lead the standard wallet 00:02:09.590 --> 00:02:11.920 align:start position:0% we've seen 7 12 lead the standard wallet signing<00:02:10.550> interfaces<00:02:11.180> and<00:02:11.330> there's<00:02:11.510> many<00:02:11.720> many 00:02:11.920 --> 00:02:11.930 align:start position:0% signing interfaces and there's many many 00:02:11.930 --> 00:02:13.900 align:start position:0% signing interfaces and there's many many more<00:02:12.170> examples<00:02:12.680> of<00:02:12.920> once<00:02:13.490> we<00:02:13.640> get<00:02:13.760> together 00:02:13.900 --> 00:02:13.910 align:start position:0% more examples of once we get together 00:02:13.910 --> 00:02:15.340 align:start position:0% more examples of once we get together figure<00:02:14.510> out<00:02:14.630> how<00:02:14.780> to<00:02:14.840> do<00:02:14.990> this<00:02:15.110> thing<00:02:15.320> right 00:02:15.340 --> 00:02:15.350 align:start position:0% figure out how to do this thing right 00:02:15.350 --> 00:02:17.040 align:start position:0% figure out how to do this thing right the<00:02:15.920> rest<00:02:16.160> of<00:02:16.370> the<00:02:16.460> community 00:02:17.040 --> 00:02:17.050 align:start position:0% the rest of the community 00:02:17.050 --> 00:02:19.230 align:start position:0% the rest of the community which<00:02:17.200> is<00:02:17.440> largely<00:02:17.890> builders<00:02:18.430> actually<00:02:18.940> begin 00:02:19.230 --> 00:02:19.240 align:start position:0% which is largely builders actually begin 00:02:19.240 --> 00:02:21.540 align:start position:0% which is largely builders actually begin building<00:02:19.450> on<00:02:19.810> top<00:02:20.350> so<00:02:20.890> this<00:02:20.980> is<00:02:21.100> extremely 00:02:21.540 --> 00:02:21.550 align:start position:0% building on top so this is extremely 00:02:21.550 --> 00:02:24.120 align:start position:0% building on top so this is extremely critical<00:02:22.560> so<00:02:23.560> these<00:02:23.710> are<00:02:23.860> some<00:02:23.980> of<00:02:24.070> the 00:02:24.120 --> 00:02:24.130 align:start position:0% critical so these are some of the 00:02:24.130 --> 00:02:26.190 align:start position:0% critical so these are some of the companies<00:02:24.310> that<00:02:24.580> are<00:02:24.850> involved<00:02:25.330> we<00:02:25.870> all<00:02:26.020> have 00:02:26.190 --> 00:02:26.200 align:start position:0% companies that are involved we all have 00:02:26.200 --> 00:02:27.780 align:start position:0% companies that are involved we all have a<00:02:26.230> really<00:02:26.560> cool<00:02:26.710> history<00:02:26.950> if<00:02:27.190> I<00:02:27.280> had<00:02:27.460> more<00:02:27.580> time 00:02:27.780 --> 00:02:27.790 align:start position:0% a really cool history if I had more time 00:02:27.790 --> 00:02:29.220 align:start position:0% a really cool history if I had more time I'd<00:02:28.060> tell<00:02:28.480> you<00:02:28.540> the<00:02:28.600> whole<00:02:28.660> story<00:02:28.810> of<00:02:29.110> how 00:02:29.220 --> 00:02:29.230 align:start position:0% I'd tell you the whole story of how 00:02:29.230 --> 00:02:30.930 align:start position:0% I'd tell you the whole story of how we've<00:02:29.410> all<00:02:29.560> been<00:02:30.190> working<00:02:30.370> together<00:02:30.580> over<00:02:30.850> the 00:02:30.930 --> 00:02:30.940 align:start position:0% we've all been working together over the 00:02:30.940 --> 00:02:34.470 align:start position:0% we've all been working together over the last<00:02:31.060> little<00:02:31.330> while<00:02:31.480> but<00:02:32.170> we<00:02:32.380> have<00:02:32.530> l4<00:02:33.450> karoon 00:02:34.470 --> 00:02:34.480 align:start position:0% last little while but we have l4 karoon 00:02:34.480 --> 00:02:37.680 align:start position:0% last little while but we have l4 karoon prototype<00:02:35.110> ol<00:02:35.350> connects<00:02:36.280> cellar<00:02:36.700> magma 00:02:37.680 --> 00:02:37.690 align:start position:0% prototype ol connects cellar magma 00:02:37.690 --> 00:02:40.290 align:start position:0% prototype ol connects cellar magma funfair<00:02:38.350> pisa<00:02:38.740> all<00:02:39.040> these<00:02:39.430> companies<00:02:39.820> and<00:02:40.090> and 00:02:40.290 --> 00:02:40.300 align:start position:0% funfair pisa all these companies and and 00:02:40.300 --> 00:02:41.820 align:start position:0% funfair pisa all these companies and and there's<00:02:40.840> some<00:02:40.960> even<00:02:41.200> on<00:02:41.290> other<00:02:41.410> blocks<00:02:41.650> teens 00:02:41.820 --> 00:02:41.830 align:start position:0% there's some even on other blocks teens 00:02:41.830 --> 00:02:42.960 align:start position:0% there's some even on other blocks teens have<00:02:41.950> been<00:02:41.980> collaborating<00:02:42.250> another<00:02:42.700> time 00:02:42.960 --> 00:02:42.970 align:start position:0% have been collaborating another time 00:02:42.970 --> 00:02:44.760 align:start position:0% have been collaborating another time it's<00:02:43.270> been<00:02:43.390> working<00:02:43.780> on<00:02:43.960> this<00:02:44.170> problem 00:02:44.760 --> 00:02:44.770 align:start position:0% it's been working on this problem 00:02:44.770 --> 00:02:46.140 align:start position:0% it's been working on this problem together<00:02:44.950> for<00:02:45.430> the<00:02:45.490> past<00:02:45.700> couple<00:02:45.940> of<00:02:46.090> years 00:02:46.140 --> 00:02:46.150 align:start position:0% together for the past couple of years 00:02:46.150 --> 00:02:48.030 align:start position:0% together for the past couple of years and<00:02:46.570> it's<00:02:46.990> only<00:02:47.080> been<00:02:47.230> recently<00:02:47.290> that<00:02:47.710> we've 00:02:48.030 --> 00:02:48.040 align:start position:0% and it's only been recently that we've 00:02:48.040 --> 00:02:49.020 align:start position:0% and it's only been recently that we've been<00:02:48.160> able<00:02:48.250> to<00:02:48.370> all<00:02:48.520> kind<00:02:48.700> of<00:02:48.730> come<00:02:48.910> together 00:02:49.020 --> 00:02:49.030 align:start position:0% been able to all kind of come together 00:02:49.030 --> 00:02:51.830 align:start position:0% been able to all kind of come together and<00:02:49.680> standardize<00:02:50.680> at<00:02:50.980> the<00:02:51.130> lower<00:02:51.280> levels<00:02:51.610> so 00:02:51.830 --> 00:02:51.840 align:start position:0% and standardize at the lower levels so 00:02:51.840 --> 00:02:54.680 align:start position:0% and standardize at the lower levels so so<00:02:52.840> that's<00:02:52.930> quite<00:02:53.230> that's<00:02:53.770> quite<00:02:53.980> good<00:02:54.220> and<00:02:54.430> I 00:02:54.680 --> 00:02:54.690 align:start position:0% so that's quite that's quite good and I 00:02:54.690 --> 00:02:57.120 align:start position:0% so that's quite that's quite good and I want<00:02:55.690> to<00:02:55.780> just<00:02:56.050> show<00:02:56.470> the<00:02:56.500> case<00:02:56.800> for 00:02:57.120 --> 00:02:57.130 align:start position:0% want to just show the case for 00:02:57.130 --> 00:02:58.440 align:start position:0% want to just show the case for Standardization<00:02:57.760> what<00:02:58.000> most<00:02:58.180> people<00:02:58.360> don't 00:02:58.440 --> 00:02:58.450 align:start position:0% Standardization what most people don't 00:02:58.450 --> 00:02:59.850 align:start position:0% Standardization what most people don't realize<00:02:58.630> about<00:02:58.900> state<00:02:59.170> channels<00:02:59.530> is<00:02:59.680> that 00:02:59.850 --> 00:02:59.860 align:start position:0% realize about state channels is that 00:02:59.860 --> 00:03:02.040 align:start position:0% realize about state channels is that it's<00:03:00.310> not<00:03:00.520> just<00:03:00.850> you<00:03:01.450> know<00:03:01.540> you<00:03:01.600> write<00:03:01.870> this 00:03:02.040 --> 00:03:02.050 align:start position:0% it's not just you know you write this 00:03:02.050 --> 00:03:03.750 align:start position:0% it's not just you know you write this thing<00:03:02.200> once<00:03:02.470> and<00:03:02.800> all<00:03:02.950> of<00:03:03.040> a<00:03:03.100> sudden<00:03:03.130> you<00:03:03.730> know 00:03:03.750 --> 00:03:03.760 align:start position:0% thing once and all of a sudden you know 00:03:03.760 --> 00:03:06.450 align:start position:0% thing once and all of a sudden you know magically<00:03:04.480> all<00:03:04.920> applications<00:03:05.920> go<00:03:06.100> wicked 00:03:06.450 --> 00:03:06.460 align:start position:0% magically all applications go wicked 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align:start position:0% word state channels and I'll kind of show<00:03:13.120> some<00:03:13.480> of<00:03:13.600> them<00:03:13.720> you<00:03:14.230> know<00:03:14.320> one<00:03:14.710> is<00:03:14.980> the 00:03:15.180 --> 00:03:15.190 align:start position:0% show some of them you know one is the 00:03:15.190 --> 00:03:17.130 align:start position:0% show some of them you know one is the most<00:03:15.460> obvious<00:03:15.910> one<00:03:16.120> is<00:03:16.150> how<00:03:16.450> do<00:03:16.510> you<00:03:16.870> actually 00:03:17.130 --> 00:03:17.140 align:start position:0% most obvious one is how do you actually 00:03:17.140 --> 00:03:19.110 align:start position:0% most obvious one is how do you actually progress<00:03:17.710> state<00:03:18.190> between<00:03:18.580> two<00:03:18.760> parties 00:03:19.110 --> 00:03:19.120 align:start position:0% progress state between two parties 00:03:19.120 --> 00:03:21.000 align:start position:0% progress state between two parties precisely<00:03:19.540> what<00:03:20.260> are<00:03:20.380> those<00:03:20.470> objects 00:03:21.000 --> 00:03:21.010 align:start position:0% precisely what are those objects 00:03:21.010 --> 00:03:23.520 align:start position:0% precisely what are those objects precisely<00:03:21.340> what<00:03:21.730> are<00:03:21.850> you<00:03:21.940> signing<00:03:22.440> the<00:03:23.440> other 00:03:23.520 --> 00:03:23.530 align:start position:0% precisely what are you signing the other 00:03:23.530 --> 00:03:25.410 align:start position:0% precisely what are you signing the other one<00:03:23.739> is<00:03:23.890> like<00:03:24.010> how<00:03:24.580> do<00:03:24.640> you<00:03:24.760> fund<00:03:25.120> these 00:03:25.410 --> 00:03:25.420 align:start position:0% one is like how do you fund these 00:03:25.420 --> 00:03:26.729 align:start position:0% one is like how do you fund these channels<00:03:25.840> how<00:03:25.989> they<00:03:26.140> how<00:03:26.410> do<00:03:26.470> they<00:03:26.620> actually 00:03:26.729 --> 00:03:26.739 align:start position:0% channels how they how do they actually 00:03:26.739 --> 00:03:29.130 align:start position:0% channels how they how do they actually get<00:03:27.550> funded<00:03:28.000> in<00:03:28.090> such<00:03:28.300> a<00:03:28.330> way<00:03:28.540> that<00:03:28.570> anything 00:03:29.130 --> 00:03:29.140 align:start position:0% get funded in such a way that anything 00:03:29.140 --> 00:03:31.020 align:start position:0% get funded in such a way that anything you<00:03:29.170> do<00:03:29.410> is<00:03:29.560> meaningful<00:03:30.010> on<00:03:30.130> the<00:03:30.250> chain<00:03:30.459> that 00:03:31.020 --> 00:03:31.030 align:start position:0% you do is meaningful on the chain that 00:03:31.030 --> 00:03:33.210 align:start position:0% you do is meaningful on the chain that itself<00:03:31.420> has<00:03:31.540> yielded<00:03:32.140> many<00:03:32.530> papers<00:03:33.010> of 00:03:33.210 --> 00:03:33.220 align:start position:0% itself has yielded many papers of 00:03:33.220 --> 00:03:34.920 align:start position:0% itself has yielded many papers of different<00:03:33.459> protocols<00:03:33.670> the<00:03:34.270> many<00:03:34.480> many<00:03:34.750> open 00:03:34.920 --> 00:03:34.930 align:start position:0% different protocols the many many open 00:03:34.930 --> 00:03:36.240 align:start position:0% different protocols the many many open standards<00:03:35.350> difference<00:03:35.650> across<00:03:35.830> chains 00:03:36.240 --> 00:03:36.250 align:start position:0% standards difference across chains 00:03:36.250 --> 00:03:38.250 align:start position:0% standards difference across chains networks<00:03:37.239> themselves<00:03:37.450> they're<00:03:37.870> built<00:03:38.020> on<00:03:38.080> top 00:03:38.250 --> 00:03:38.260 align:start position:0% networks themselves they're built on top 00:03:38.260 --> 00:03:41.130 align:start position:0% networks themselves they're built on top of<00:03:38.410> this<00:03:38.760> the<00:03:39.760> actual<00:03:40.120> implementation<00:03:40.390> of 00:03:41.130 --> 00:03:41.140 align:start position:0% of this the actual implementation of 00:03:41.140 --> 00:03:43.020 align:start position:0% of this the actual implementation of those<00:03:41.290> engines<00:03:41.920> which<00:03:42.130> themselves<00:03:42.310> are<00:03:42.760> large 00:03:43.020 --> 00:03:43.030 align:start position:0% those engines which themselves are large 00:03:43.030 --> 00:03:45.240 align:start position:0% those engines which themselves are large software<00:03:43.540> libraries<00:03:44.140> that<00:03:44.290> we've<00:03:44.410> seen<00:03:44.680> again 00:03:45.240 --> 00:03:45.250 align:start position:0% software libraries that we've seen again 00:03:45.250 --> 00:03:46.380 align:start position:0% software libraries that we've seen again through<00:03:45.459> multiple<00:03:45.820> different<00:03:45.970> companies 00:03:46.380 --> 00:03:46.390 align:start position:0% through multiple different companies 00:03:46.390 --> 00:03:48.750 align:start position:0% through multiple different companies implementing<00:03:46.870> these<00:03:46.989> things<00:03:47.280> many<00:03:48.280> archive 00:03:48.750 --> 00:03:48.760 align:start position:0% implementing these things many archive 00:03:48.760 --> 00:03:50.070 align:start position:0% implementing these things many archive repositories<00:03:49.330> and<00:03:49.450> github<00:03:49.600> trying<00:03:49.930> to<00:03:49.989> get 00:03:50.070 --> 00:03:50.080 align:start position:0% repositories and github trying to get 00:03:50.080 --> 00:03:52.350 align:start position:0% repositories and github trying to get the<00:03:50.170> stuff<00:03:50.350> working<00:03:50.709> the<00:03:51.640> wire<00:03:51.850> protocol 00:03:52.350 --> 00:03:52.360 align:start position:0% the stuff working the wire protocol 00:03:52.360 --> 00:03:54.630 align:start position:0% the stuff working the wire protocol itself<00:03:52.810> how<00:03:53.440> do<00:03:53.500> you<00:03:53.680> communicate<00:03:53.890> to<00:03:54.459> other 00:03:54.630 --> 00:03:54.640 align:start position:0% itself how do you communicate to other 00:03:54.640 --> 00:03:56.670 align:start position:0% itself how do you communicate to other nodes<00:03:54.940> if<00:03:55.330> you're<00:03:55.750> familiar<00:03:55.930> with<00:03:56.140> lightning 00:03:56.670 --> 00:03:56.680 align:start position:0% nodes if you're familiar with lightning 00:03:56.680 --> 00:03:58.620 align:start position:0% nodes if you're familiar with lightning and<00:03:56.830> inter<00:03:57.220> ledger<00:03:57.459> and<00:03:57.910> stellar<00:03:58.360> and<00:03:58.540> all 00:03:58.620 --> 00:03:58.630 align:start position:0% and inter ledger and stellar and all 00:03:58.630 --> 00:04:00.720 align:start position:0% and inter ledger and stellar and all these<00:03:58.810> other<00:03:59.020> network<00:03:59.530> attempted<00:04:00.070> channel 00:04:00.720 --> 00:04:00.730 align:start position:0% these other network attempted channel 00:04:00.730 --> 00:04:02.250 align:start position:0% these other network attempted channel constructions<00:04:01.270> these<00:04:01.900> things<00:04:02.140> are 00:04:02.250 --> 00:04:02.260 align:start position:0% constructions these things are 00:04:02.260 --> 00:04:03.510 align:start position:0% constructions these things are dramatically<00:04:02.739> different<00:04:02.860> across<00:04:03.130> all<00:04:03.370> of 00:04:03.510 --> 00:04:03.520 align:start position:0% dramatically different across all of 00:04:03.520 --> 00:04:05.430 align:start position:0% dramatically different across all of them<00:04:03.640> and<00:04:03.850> that's<00:04:04.270> what's<00:04:04.480> led<00:04:04.720> to<00:04:04.959> years<00:04:05.380> and 00:04:05.430 --> 00:04:05.440 align:start position:0% them and that's what's led to years and 00:04:05.440 --> 00:04:07.500 align:start position:0% them and that's what's led to years and years<00:04:05.770> of<00:04:05.830> lack<00:04:06.489> of<00:04:06.670> interoperability<00:04:06.940> for 00:04:07.500 --> 00:04:07.510 align:start position:0% years of lack of interoperability for 00:04:07.510 --> 00:04:08.640 align:start position:0% years of lack of interoperability for the<00:04:07.570> most<00:04:07.750> part<00:04:08.020> and<00:04:08.110> anyone<00:04:08.350> here<00:04:08.530> that's 00:04:08.640 --> 00:04:08.650 align:start position:0% the most part and anyone here that's 00:04:08.650 --> 00:04:10.560 align:start position:0% the most part and anyone here that's worked<00:04:08.920> on<00:04:09.100> things<00:04:09.730> like<00:04:09.910> in<00:04:10.060> our<00:04:10.150> ledger<00:04:10.300> for 00:04:10.560 --> 00:04:10.570 align:start position:0% worked on things like in our ledger for 00:04:10.570 --> 00:04:12.410 align:start position:0% worked on things like in our ledger for example<00:04:10.930> know<00:04:11.110> that<00:04:11.350> once<00:04:11.890> you<00:04:11.980> start<00:04:12.190> getting 00:04:12.410 --> 00:04:12.420 align:start position:0% example know that once you start getting 00:04:12.420 --> 00:04:14.640 align:start position:0% example know that once you start getting multiple<00:04:13.420> protocols<00:04:13.780> across<00:04:14.380> different 00:04:14.640 --> 00:04:14.650 align:start position:0% multiple protocols across different 00:04:14.650 --> 00:04:16.949 align:start position:0% multiple protocols across different chains<00:04:15.190> together<00:04:15.400> it's<00:04:15.730> it's<00:04:16.269> disastrous<00:04:16.570> if 00:04:16.949 --> 00:04:16.959 align:start position:0% chains together it's it's disastrous if 00:04:16.959 --> 00:04:18.650 align:start position:0% chains together it's it's disastrous if because<00:04:17.109> there's<00:04:17.290> no<00:04:17.410> standards 00:04:18.650 --> 00:04:18.660 align:start position:0% because there's no standards 00:04:18.660 --> 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when<00:04:26.440> you<00:04:26.560> go<00:04:26.680> to<00:04:26.740> a<00:04:26.830> wallet<00:04:27.190> it<00:04:27.280> can<00:04:27.400> take 00:04:27.570 --> 00:04:27.580 align:start position:0% when you go to a wallet it can take 00:04:27.580 --> 00:04:28.920 align:start position:0% when you go to a wallet it can take months<00:04:27.820> and<00:04:27.970> months<00:04:28.060> and<00:04:28.210> up<00:04:28.330> to<00:04:28.390> years<00:04:28.780> to 00:04:28.920 --> 00:04:28.930 align:start position:0% months and months and up to years to 00:04:28.930 --> 00:04:29.920 align:start position:0% months and months and up to years to actually<00:04:29.020> get<00:04:29.350> that<00:04:29.530> thing<00:04:29.680> in 00:04:29.920 --> 00:04:29.930 align:start position:0% actually get that thing in 00:04:29.930 --> 00:04:31.990 align:start position:0% actually get that thing in well<00:04:30.229> into<00:04:30.500> wallets<00:04:30.860> and<00:04:31.070> again<00:04:31.669> we've<00:04:31.820> seen 00:04:31.990 --> 00:04:32.000 align:start position:0% well into wallets and again we've seen 00:04:32.000 --> 00:04:33.640 align:start position:0% well into wallets and again we've seen that<00:04:32.060> with<00:04:32.150> lightning<00:04:32.509> where<00:04:32.690> it's<00:04:32.840> been<00:04:33.080> it's 00:04:33.640 --> 00:04:33.650 align:start position:0% that with lightning where it's been it's 00:04:33.650 --> 00:04:34.810 align:start position:0% that with lightning where it's been it's been<00:04:33.800> taking<00:04:34.009> quite<00:04:34.130> a<00:04:34.190> long<00:04:34.370> time<00:04:34.580> they<00:04:34.699> had 00:04:34.810 --> 00:04:34.820 align:start position:0% been taking quite a long time they had 00:04:34.820 --> 00:04:36.430 align:start position:0% been taking quite a long time they had to<00:04:34.940> get<00:04:35.150> even<00:04:35.419> lightning<00:04:35.600> abled<00:04:35.990> wallets<00:04:36.259> and 00:04:36.430 --> 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about this and 00:04:48.820 --> 00:04:51.219 align:start position:0% had so many discussions about this and the<00:04:49.820> benefits<00:04:50.300> for<00:04:50.660> each<00:04:50.750> of<00:04:50.960> these<00:04:51.050> things 00:04:51.219 --> 00:04:51.229 align:start position:0% the benefits for each of these things 00:04:51.229 --> 00:04:53.350 align:start position:0% the benefits for each of these things should<00:04:51.440> be<00:04:51.590> extremely<00:04:52.100> obvious<00:04:52.280> at<00:04:53.090> each 00:04:53.350 --> 00:04:53.360 align:start position:0% should be extremely obvious at each 00:04:53.360 --> 00:04:55.990 align:start position:0% should be extremely obvious at each level<00:04:53.570> what<00:04:54.500> for<00:04:54.889> example<00:04:55.100> with<00:04:55.490> the<00:04:55.669> wall<00:04:55.880> at 00:04:55.990 --> 00:04:56.000 align:start position:0% level what for example with the wall at 00:04:56.000 --> 00:04:59.110 align:start position:0% level what for example with the wall at UI<00:04:56.180> level<00:04:56.630> when<00:04:57.110> we<00:04:57.259> have<00:04:57.440> a<00:04:57.470> consistent<00:04:57.949> UI<00:04:58.310> we 00:04:59.110 --> 00:04:59.120 align:start position:0% UI level when we have a consistent UI we 00:04:59.120 --> 00:05:01.510 align:start position:0% UI level when we have a consistent UI we have<00:04:59.300> one<00:04:59.990> set<00:05:00.500> of<00:05:00.590> UI<00:05:00.710> components<00:05:00.830> that<00:05:01.310> every 00:05:01.510 --> 00:05:01.520 align:start position:0% have one set of UI components that every 00:05:01.520 --> 00:05:03.279 align:start position:0% have one set of UI components that every wall<00:05:01.729> can<00:05:01.910> standardize<00:05:02.360> around<00:05:02.510> and<00:05:03.020> that<00:05:03.139> you 00:05:03.279 --> 00:05:03.289 align:start position:0% wall can standardize around and that you 00:05:03.289 --> 00:05:05.170 align:start position:0% wall can standardize around and that you just<00:05:03.500> can<00:05:03.710> have<00:05:03.740> a<00:05:03.889> familiar<00:05:04.310> experience<00:05:04.970> with 00:05:05.170 --> 00:05:05.180 align:start position:0% just can have a familiar experience with 00:05:05.180 --> 00:05:07.330 align:start position:0% just can have a familiar experience with when<00:05:05.990> it<00:05:06.080> comes<00:05:06.229> to<00:05:06.350> integrating<00:05:06.800> itself<00:05:07.130> we 00:05:07.330 --> 00:05:07.340 align:start position:0% when it comes to integrating itself we 00:05:07.340 --> 00:05:09.760 align:start position:0% when it comes to integrating itself we can<00:05:07.430> have<00:05:07.580> one<00:05:07.820> API<00:05:08.270> that<00:05:08.810> a<00:05:09.110> wallet<00:05:09.530> just 00:05:09.760 --> 00:05:09.770 align:start position:0% can have one API that a wallet just 00:05:09.770 --> 00:05:11.830 align:start position:0% can have one API that a wallet just needs<00:05:09.889> to<00:05:10.039> import<00:05:10.370> the<00:05:10.610> API<00:05:10.910> for<00:05:11.270> and<00:05:11.570> have<00:05:11.810> a 00:05:11.830 --> 00:05:11.840 align:start position:0% needs to import the API for and have a 00:05:11.840 --> 00:05:13.629 align:start position:0% needs to import the API for and have a standard<00:05:12.260> interface<00:05:12.470> to<00:05:12.919> how<00:05:13.070> they<00:05:13.220> open<00:05:13.490> and 00:05:13.629 --> 00:05:13.639 align:start position:0% standard interface to how they open and 00:05:13.639 --> 00:05:15.879 align:start position:0% standard interface to how they open and close<00:05:13.669> channels<00:05:14.180> at<00:05:14.690> the<00:05:15.229> wire<00:05:15.470> protocol 00:05:15.879 --> 00:05:15.889 align:start position:0% close channels at the wire protocol 00:05:15.889 --> 00:05:17.320 align:start position:0% close channels at the wire protocol level<00:05:16.010> I<00:05:16.280> kind<00:05:16.520> of<00:05:16.550> gave<00:05:16.699> the<00:05:16.850> example 00:05:17.320 --> 00:05:17.330 align:start position:0% level I kind of gave the example 00:05:17.330 --> 00:05:18.820 align:start position:0% level I kind of gave the example communicating<00:05:17.990> nodes<00:05:18.229> between<00:05:18.440> different 00:05:18.820 --> 00:05:18.830 align:start position:0% communicating nodes between different 00:05:18.830 --> 00:05:21.520 align:start position:0% communicating nodes between different block<00:05:18.979> chains<00:05:19.310> is<00:05:19.520> incredibly<00:05:19.970> important<00:05:20.530> the 00:05:21.520 --> 00:05:21.530 align:start position:0% block chains is incredibly important the 00:05:21.530 --> 00:05:23.110 align:start position:0% block chains is incredibly important the implementation<00:05:22.160> of<00:05:22.220> protocol<00:05:22.550> engines<00:05:22.940> we 00:05:23.110 --> 00:05:23.120 align:start position:0% implementation of protocol engines we 00:05:23.120 --> 00:05:24.550 align:start position:0% implementation of protocol engines we get<00:05:23.240> this<00:05:23.330> thing<00:05:23.389> done<00:05:23.660> right<00:05:23.720> we<00:05:24.139> can<00:05:24.289> reuse 00:05:24.550 --> 00:05:24.560 align:start position:0% get this thing done right we can reuse 00:05:24.560 --> 00:05:26.200 align:start position:0% get this thing done right we can reuse the<00:05:24.710> code<00:05:24.860> in<00:05:25.039> multiple<00:05:25.370> different<00:05:25.460> contexts 00:05:26.200 --> 00:05:26.210 align:start position:0% the code in multiple different contexts 00:05:26.210 --> 00:05:28.450 align:start position:0% the code in multiple different contexts when<00:05:27.050> it<00:05:27.139> comes<00:05:27.260> to<00:05:27.380> funding<00:05:27.830> we<00:05:28.160> can<00:05:28.310> also 00:05:28.450 --> 00:05:28.460 align:start position:0% when it comes to funding we can also 00:05:28.460 --> 00:05:32.200 align:start position:0% when it comes to funding we can also have<00:05:29.110> reusable<00:05:30.110> collateral<00:05:30.699> pull<00:05:31.699> collateral 00:05:32.200 --> 00:05:32.210 align:start position:0% have reusable collateral pull collateral 00:05:32.210 --> 00:05:34.390 align:start position:0% have reusable collateral pull collateral kind<00:05:32.479> of<00:05:32.539> hubs<00:05:32.960> so<00:05:33.710> that<00:05:33.830> if<00:05:33.919> you<00:05:34.010> ever<00:05:34.099> wanted 00:05:34.390 --> 00:05:34.400 align:start position:0% kind of hubs so that if you ever wanted 00:05:34.400 --> 00:05:36.400 align:start position:0% kind of hubs so that if you ever wanted to<00:05:34.460> you<00:05:34.639> know<00:05:34.669> reuse<00:05:35.120> a<00:05:35.150> hub<00:05:35.449> and<00:05:35.780> lightning<00:05:36.289> at 00:05:36.400 --> 00:05:36.410 align:start position:0% to you know reuse a hub and lightning at 00:05:36.410 --> 00:05:38.320 align:start position:0% to you know reuse a hub and lightning at work<00:05:36.560> in<00:05:36.800> the<00:05:37.460> state<00:05:37.639> you<00:05:37.789> know<00:05:37.910> say<00:05:38.060> channels 00:05:38.320 --> 00:05:38.330 align:start position:0% work in the state you know say channels 00:05:38.330 --> 00:05:40.270 align:start position:0% work in the state you know say channels networking<00:05:38.630> aetherium<00:05:39.080> or<00:05:39.320> in<00:05:39.560> any<00:05:40.039> of<00:05:40.190> the 00:05:40.270 --> 00:05:40.280 align:start position:0% networking aetherium or in any of the 00:05:40.280 --> 00:05:41.350 align:start position:0% networking aetherium or in any of the existing<00:05:40.580> state<00:05:40.669> channel<00:05:40.910> networks<00:05:41.150> that<00:05:41.300> we 00:05:41.350 --> 00:05:41.360 align:start position:0% existing state channel networks that we 00:05:41.360 --> 00:05:43.000 align:start position:0% existing state channel networks that we have<00:05:41.389> on<00:05:41.630> the<00:05:41.690> theorem<00:05:41.990> you<00:05:42.320> would<00:05:42.530> definitely 00:05:43.000 --> 00:05:43.010 align:start position:0% have on the theorem you would definitely 00:05:43.010 --> 00:05:44.980 align:start position:0% have on the theorem you would definitely want<00:05:43.220> to<00:05:43.280> have<00:05:43.460> pooled<00:05:43.820> collateral<00:05:44.300> and<00:05:44.479> then 00:05:44.980 --> 00:05:44.990 align:start position:0% want to have pooled collateral and then 00:05:44.990 --> 00:05:46.750 align:start position:0% want to have pooled collateral and then obviously<00:05:45.169> at<00:05:45.770> the<00:05:45.919> lowest<00:05:46.280> possible<00:05:46.490> level 00:05:46.750 --> 00:05:46.760 align:start position:0% obviously at the lowest possible level 00:05:46.760 --> 00:05:48.670 align:start position:0% obviously at the lowest possible level if<00:05:47.389> we're<00:05:47.570> gonna<00:05:47.659> have<00:05:47.840> shared<00:05:48.020> contract<00:05:48.470> code 00:05:48.670 --> 00:05:48.680 align:start position:0% if we're gonna have shared contract code 00:05:48.680 --> 00:05:49.779 align:start position:0% if we're gonna have shared contract code if<00:05:48.830> we're<00:05:48.919> gonna<00:05:49.010> do<00:05:49.159> any<00:05:49.280> kind<00:05:49.490> of<00:05:49.520> formal 00:05:49.779 --> 00:05:49.789 align:start position:0% if we're gonna do any kind of formal 00:05:49.789 --> 00:05:51.279 align:start position:0% if we're gonna do any kind of formal verification<00:05:49.970> if<00:05:50.570> we're<00:05:50.659> gonna<00:05:50.750> do<00:05:50.900> anything 00:05:51.279 --> 00:05:51.289 align:start position:0% verification if we're gonna do anything 00:05:51.289 --> 00:05:52.930 align:start position:0% verification if we're gonna do anything at<00:05:51.380> all<00:05:51.530> about<00:05:51.710> assuring<00:05:52.669> this<00:05:52.789> thing 00:05:52.930 --> 00:05:52.940 align:start position:0% at all about assuring this thing 00:05:52.940 --> 00:05:54.760 align:start position:0% at all about assuring this thing actually<00:05:53.240> secure<00:05:53.599> it<00:05:53.780> like<00:05:53.810> we<00:05:54.320> say<00:05:54.530> it<00:05:54.650> is 00:05:54.760 --> 00:05:54.770 align:start position:0% actually secure it like we say it is 00:05:54.770 --> 00:05:56.589 align:start position:0% actually secure it like we say it is then<00:05:55.010> we<00:05:55.190> need<00:05:55.340> to<00:05:55.460> have<00:05:55.580> at<00:05:56.120> least<00:05:56.270> one 00:05:56.589 --> 00:05:56.599 align:start position:0% then we need to have at least one 00:05:56.599 --> 00:05:58.240 align:start position:0% then we need to have at least one standardized<00:05:57.289> protocol<00:05:57.740> so<00:05:57.919> it<00:05:58.010> should<00:05:58.159> be 00:05:58.240 --> 00:05:58.250 align:start position:0% standardized protocol so it should be 00:05:58.250 --> 00:06:00.129 align:start position:0% standardized protocol so it should be obvious<00:05:58.400> that<00:05:58.880> these<00:05:59.240> are<00:05:59.360> ridiculously<00:05:59.870> good 00:06:00.129 --> 00:06:00.139 align:start position:0% obvious that these are ridiculously good 00:06:00.139 --> 00:06:03.219 align:start position:0% obvious that these are ridiculously good benefits<00:06:00.590> that<00:06:00.830> are<00:06:01.280> worth<00:06:01.520> pursuing<00:06:02.229> so 00:06:03.219 --> 00:06:03.229 align:start position:0% benefits that are worth pursuing so 00:06:03.229 --> 00:06:05.680 align:start position:0% benefits that are worth pursuing so that's<00:06:03.800> roughly<00:06:04.250> the<00:06:05.060> case<00:06:05.240> for<00:06:05.510> state 00:06:05.680 --> 00:06:05.690 align:start position:0% that's roughly the case for state 00:06:05.690 --> 00:06:07.110 align:start position:0% that's roughly the case for state channel<00:06:05.930> that<00:06:06.050> organ<00:06:06.320> the<00:06:06.380> case<00:06:06.590> for 00:06:07.110 --> 00:06:07.120 align:start position:0% channel that organ the case for 00:06:07.120 --> 00:06:09.700 align:start position:0% channel that organ the case for standardization<00:06:08.199> what<00:06:09.199> I<00:06:09.229> want<00:06:09.440> introduced 00:06:09.700 --> 00:06:09.710 align:start position:0% standardization what I want introduced 00:06:09.710 --> 00:06:11.379 align:start position:0% standardization what I want introduced now<00:06:09.889> is<00:06:10.099> just<00:06:10.280> some<00:06:10.490> updates<00:06:10.940> on<00:06:11.090> what<00:06:11.240> we've 00:06:11.379 --> 00:06:11.389 align:start position:0% now is just some updates on what we've 00:06:11.389 --> 00:06:13.960 align:start position:0% now is just some updates on what we've been<00:06:11.570> building<00:06:11.870> in<00:06:12.260> a<00:06:12.949> project<00:06:13.220> called<00:06:13.490> state 00:06:13.960 --> 00:06:13.970 align:start position:0% been building in a project called state 00:06:13.970 --> 00:06:15.969 align:start position:0% been building in a project called state channels<00:06:14.330> which<00:06:14.930> I'll<00:06:15.139> get<00:06:15.409> into<00:06:15.710> is<00:06:15.830> the 00:06:15.969 --> 00:06:15.979 align:start position:0% channels which I'll get into is the 00:06:15.979 --> 00:06:17.500 align:start position:0% channels which I'll get into is the collaboration<00:06:16.580> between<00:06:16.610> a<00:06:16.970> couple<00:06:17.419> other 00:06:17.500 --> 00:06:17.510 align:start position:0% collaboration between a couple other 00:06:17.510 --> 00:06:20.500 align:start position:0% collaboration between a couple other products<00:06:17.840> in<00:06:17.900> the<00:06:17.960> space<00:06:18.169> already<00:06:18.409> so<00:06:19.240> one<00:06:20.240> is 00:06:20.500 --> 00:06:20.510 align:start position:0% products in the space already so one is 00:06:20.510 --> 00:06:23.770 align:start position:0% products in the space already so one is we've<00:06:21.229> already<00:06:21.440> taken<00:06:21.889> the<00:06:22.430> whole<00:06:22.880> stack<00:06:23.270> that 00:06:23.770 --> 00:06:23.780 align:start position:0% we've already taken the whole stack that 00:06:23.780 --> 00:06:25.240 align:start position:0% we've already taken the whole stack that I<00:06:23.810> just<00:06:24.020> described<00:06:24.470> in<00:06:24.800> the<00:06:24.979> single 00:06:25.240 --> 00:06:25.250 align:start position:0% I just described in the single 00:06:25.250 --> 00:06:26.860 align:start position:0% I just described in the single implementation<00:06:25.909> and<00:06:26.300> we've<00:06:26.449> got<00:06:26.630> it<00:06:26.750> on 00:06:26.860 --> 00:06:26.870 align:start position:0% implementation and we've got it on 00:06:26.870 --> 00:06:29.110 align:start position:0% implementation and we've got it on production<00:06:27.199> today<00:06:27.470> so<00:06:28.159> it's<00:06:28.669> been<00:06:29.090> a 00:06:29.110 --> 00:06:29.120 align:start position:0% production today so it's been a 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of it to get a full generalized<00:06:37.699> 8<00:06:37.849> channels<00:06:38.120> network<00:06:38.419> on 00:06:38.709 --> 00:06:38.719 align:start position:0% generalized 8 channels network on 00:06:38.719 --> 00:06:41.290 align:start position:0% generalized 8 channels network on production<00:06:39.349> today<00:06:40.070> and<00:06:40.580> this<00:06:40.820> is<00:06:40.940> actually<00:06:41.270> a 00:06:41.290 --> 00:06:41.300 align:start position:0% production today and this is actually a 00:06:41.300 --> 00:06:42.610 align:start position:0% production today and this is actually a ridiculously<00:06:41.810> good<00:06:41.900> accomplishment<00:06:42.560> I'm 00:06:42.610 --> 00:06:42.620 align:start position:0% ridiculously good accomplishment I'm 00:06:42.620 --> 00:06:43.590 align:start position:0% ridiculously good accomplishment I'm talking<00:06:42.950> most<00:06:43.130> in<00:06:43.219> this<00:06:43.310> talk 00:06:43.590 --> 00:06:43.600 align:start position:0% talking most in this talk 00:06:43.600 --> 00:06:45.960 align:start position:0% talking most in this talk about<00:06:44.400> standardization<00:06:45.400> but<00:06:45.550> the<00:06:45.670> fact<00:06:45.880> that 00:06:45.960 --> 00:06:45.970 align:start position:0% about standardization but the fact that 00:06:45.970 --> 00:06:47.160 align:start position:0% about standardization but the fact that we've<00:06:46.120> been<00:06:46.150> able<00:06:46.330> to<00:06:46.480> have<00:06:46.660> all<00:06:46.900> the<00:06:47.050> stuff 00:06:47.160 --> 00:06:47.170 align:start position:0% we've been able to have all the stuff 00:06:47.170 --> 00:06:48.960 align:start position:0% we've been able to have all the stuff working<00:06:47.470> at<00:06:47.800> the<00:06:47.920> point<00:06:48.190> that<00:06:48.430> now<00:06:48.550> we<00:06:48.610> have<00:06:48.760> an 00:06:48.960 --> 00:06:48.970 align:start position:0% working at the point that now we have an 00:06:48.970 --> 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working<00:06:54.880> and<00:06:55.120> the<00:06:55.420> great<00:06:55.570> part<00:06:55.690> is<00:06:55.810> we<00:06:55.930> now 00:06:56.040 --> 00:06:56.050 align:start position:0% working and the great part is we now 00:06:56.050 --> 00:06:58.470 align:start position:0% working and the great part is we now have<00:06:56.080> a<00:06:56.290> feedback<00:06:56.890> loop<00:06:57.130> with<00:06:57.460> with<00:06:58.000> wallets 00:06:58.470 --> 00:06:58.480 align:start position:0% have a feedback loop with with wallets 00:06:58.480 --> 00:06:59.820 align:start position:0% have a feedback loop with with wallets with<00:06:58.720> infrastructure<00:06:59.170> projects<00:06:59.710> with 00:06:59.820 --> 00:06:59.830 align:start position:0% with infrastructure projects with 00:06:59.830 --> 00:07:01.770 align:start position:0% with infrastructure projects with applications<00:07:00.460> that<00:07:00.580> are<00:07:00.850> actively<00:07:01.270> using 00:07:01.770 --> 00:07:01.780 align:start position:0% applications that are actively using 00:07:01.780 --> 00:07:03.750 align:start position:0% applications that are actively using this<00:07:01.870> that<00:07:02.080> can<00:07:02.230> give<00:07:02.380> us<00:07:02.410> feedback<00:07:02.920> on<00:07:03.100> what 00:07:03.750 --> 00:07:03.760 align:start position:0% this that can give us feedback on what 00:07:03.760 --> 00:07:05.850 align:start position:0% this that can give us feedback on what things<00:07:04.000> they<00:07:04.600> would<00:07:04.840> like<00:07:04.870> whenever<00:07:05.680> we're 00:07:05.850 --> 00:07:05.860 align:start position:0% things they would like whenever we're 00:07:05.860 --> 00:07:07.860 align:start position:0% things they would like whenever we're discussing<00:07:06.160> which<00:07:06.400> standards<00:07:06.820> to<00:07:06.910> adopt<00:07:07.180> so 00:07:07.860 --> 00:07:07.870 align:start position:0% discussing which standards to adopt so 00:07:07.870 --> 00:07:10.290 align:start position:0% discussing which standards to adopt so that's<00:07:08.020> been<00:07:08.170> a<00:07:08.200> great<00:07:08.290> success<00:07:08.530> a<00:07:09.300> second 00:07:10.290 --> 00:07:10.300 align:start position:0% that's been a great success a second 00:07:10.300 --> 00:07:11.370 align:start position:0% that's been a great success a second thing<00:07:10.420> I<00:07:10.510> want<00:07:10.660> to<00:07:10.720> mention<00:07:10.870> is<00:07:11.080> what<00:07:11.170> I<00:07:11.230> kind 00:07:11.370 --> 00:07:11.380 align:start position:0% thing I want to mention is what I kind 00:07:11.380 --> 00:07:13.770 align:start position:0% thing I want to mention is what I kind of<00:07:11.500> said<00:07:11.740> we're<00:07:12.340> taking<00:07:12.660> immediately<00:07:13.660> the 00:07:13.770 --> 00:07:13.780 align:start position:0% of said we're taking immediately the 00:07:13.780 --> 00:07:15.780 align:start position:0% of said we're taking immediately the step<00:07:14.050> of<00:07:14.260> merging<00:07:14.800> a<00:07:14.950> project<00:07:15.520> called 00:07:15.780 --> 00:07:15.790 align:start position:0% step of merging a project called 00:07:15.790 --> 00:07:17.880 align:start position:0% step of merging a project called counterfactual<00:07:16.600> which<00:07:16.780> is<00:07:16.990> initially<00:07:17.860> the 00:07:17.880 --> 00:07:17.890 align:start position:0% counterfactual which is initially the 00:07:17.890 --> 00:07:19.290 align:start position:0% counterfactual which is initially the combination<00:07:18.460> between<00:07:18.790> two<00:07:18.940> other<00:07:19.090> those 00:07:19.290 --> 00:07:19.300 align:start position:0% combination between two other those 00:07:19.300 --> 00:07:21.870 align:start position:0% combination between two other those companies<00:07:19.600> prototypal<00:07:20.260> and<00:07:20.470> l4<00:07:20.800> and<00:07:20.950> magma 00:07:21.870 --> 00:07:21.880 align:start position:0% companies prototypal and l4 and magma 00:07:21.880 --> 00:07:24.090 align:start position:0% companies prototypal and l4 and magma and<00:07:22.090> producing<00:07:22.900> a<00:07:22.960> single<00:07:23.170> project<00:07:23.470> which<00:07:23.890> is 00:07:24.090 --> 00:07:24.100 align:start position:0% and producing a single project which is 00:07:24.100 --> 00:07:25.770 align:start position:0% and producing a single project which is what<00:07:24.430> I<00:07:24.460> just<00:07:24.610> described<00:07:24.910> state<00:07:25.210> channels<00:07:25.570> and 00:07:25.770 --> 00:07:25.780 align:start position:0% what I just described state channels and 00:07:25.780 --> 00:07:28.140 align:start position:0% what I just described state channels and this<00:07:26.260> is<00:07:26.410> a<00:07:26.440> phenomenal<00:07:27.130> example<00:07:27.220> of<00:07:27.700> how<00:07:27.850> once 00:07:28.140 --> 00:07:28.150 align:start position:0% this is a phenomenal example of how once 00:07:28.150 --> 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can see this on our github where we have now<00:07:34.600> several<00:07:35.110> people<00:07:35.430> extremely<00:07:36.430> good 00:07:36.630 --> 00:07:36.640 align:start position:0% now several people extremely good 00:07:36.640 --> 00:07:38.130 align:start position:0% now several people extremely good engineers<00:07:37.210> from<00:07:37.450> multiple<00:07:37.870> different 00:07:38.130 --> 00:07:38.140 align:start position:0% engineers from multiple different 00:07:38.140 --> 00:07:39.750 align:start position:0% engineers from multiple different backgrounds<00:07:38.620> multiple<00:07:39.100> different<00:07:39.370> companies 00:07:39.750 --> 00:07:39.760 align:start position:0% backgrounds multiple different companies 00:07:39.760 --> 00:07:42.210 align:start position:0% backgrounds multiple different companies collaborating<00:07:40.540> daily<00:07:40.960> on<00:07:41.140> in<00:07:41.710> building<00:07:42.130> this 00:07:42.210 --> 00:07:42.220 align:start position:0% collaborating daily on in building this 00:07:42.220 --> 00:07:44.970 align:start position:0% collaborating daily on in building this infrastructure<00:07:42.730> which<00:07:43.480> you<00:07:44.350> know<00:07:44.440> obviously 00:07:44.970 --> 00:07:44.980 align:start position:0% infrastructure which you know obviously 00:07:44.980 --> 00:07:46.950 align:start position:0% infrastructure which you know obviously is<00:07:45.100> it<00:07:45.280> going<00:07:45.490> to<00:07:45.580> lead<00:07:45.730> to<00:07:45.940> a<00:07:45.970> lot<00:07:46.060> more<00:07:46.270> output 00:07:46.950 --> 00:07:46.960 align:start position:0% is it going to lead to a lot more output 00:07:46.960 --> 00:07:48.990 align:start position:0% is it going to lead to a lot more output a<00:07:46.990> lot<00:07:47.200> quicker<00:07:47.470> and<00:07:47.830> a<00:07:48.010> lot<00:07:48.220> less<00:07:48.400> redundancy 00:07:48.990 --> 00:07:49.000 align:start position:0% a lot quicker and a lot less redundancy 00:07:49.000 --> 00:07:51.120 align:start position:0% a lot quicker and a lot less redundancy which<00:07:49.210> for<00:07:49.900> me<00:07:50.020> and<00:07:50.230> a<00:07:50.530> lot<00:07:50.650> of<00:07:50.680> people<00:07:50.950> in<00:07:51.040> this 00:07:51.120 --> 00:07:51.130 align:start position:0% which for me and a lot of people in this 00:07:51.130 --> 00:07:52.110 align:start position:0% which for me and a lot of people in this room<00:07:51.250> that<00:07:51.400> I've<00:07:51.460> been<00:07:51.520> working<00:07:51.730> on<00:07:51.910> state 00:07:52.110 --> 00:07:52.120 align:start position:0% room that I've been working on state 00:07:52.120 --> 00:07:53.820 align:start position:0% room that I've been working on state channels<00:07:52.480> or<00:07:52.600> other<00:07:52.720> larger<00:07:53.290> constructions 00:07:53.820 --> 00:07:53.830 align:start position:0% channels or other larger constructions 00:07:53.830 --> 00:07:55.380 align:start position:0% channels or other larger constructions the<00:07:54.400> ability<00:07:54.730> to<00:07:54.760> say<00:07:55.030> that<00:07:55.240> we're<00:07:55.360> all 00:07:55.380 --> 00:07:55.390 align:start position:0% the ability to say that we're all 00:07:55.390 --> 00:07:57.600 align:start position:0% the ability to say that we're all working<00:07:55.810> together<00:07:55.930> directly<00:07:56.860> is<00:07:57.430> an 00:07:57.600 --> 00:07:57.610 align:start position:0% working together directly is an 00:07:57.610 --> 00:08:00.060 align:start position:0% working together directly is an incredible<00:07:58.090> success<00:07:58.240> so<00:07:58.750> that's<00:07:59.140> one<00:07:59.650> good 00:08:00.060 --> 00:08:00.070 align:start position:0% incredible success so that's one good 00:08:00.070 --> 00:08:01.410 align:start position:0% incredible success so that's one good result<00:08:00.430> from<00:08:00.550> the<00:08:00.700> state<00:08:00.880> channel<00:08:01.090> tool<00:08:01.210> org 00:08:01.410 --> 00:08:01.420 align:start position:0% result from the state channel tool org 00:08:01.420 --> 00:08:04.530 align:start position:0% result from the state channel tool org initiative<00:08:02.130> so<00:08:03.130> I<00:08:03.580> kind<00:08:04.000> of<00:08:04.030> just<00:08:04.180> mentioned<00:08:04.510> a 00:08:04.530 --> 00:08:04.540 align:start position:0% initiative so I kind of just mentioned a 00:08:04.540 --> 00:08:06.210 align:start position:0% initiative so I kind of just mentioned a lot<00:08:04.690> of<00:08:04.720> that<00:08:04.960> stuff<00:08:05.170> in<00:08:05.440> practice<00:08:05.980> if<00:08:06.130> you 00:08:06.210 --> 00:08:06.220 align:start position:0% lot of that stuff in practice if you 00:08:06.220 --> 00:08:08.120 align:start position:0% lot of that stuff in practice if you want<00:08:06.250> to<00:08:06.430> follow<00:08:06.580> that<00:08:06.670> specific<00:08:07.270> project 00:08:08.120 --> 00:08:08.130 align:start position:0% want to follow that specific project 00:08:08.130 --> 00:08:10.800 align:start position:0% want to follow that specific project we're<00:08:09.130> continue<00:08:09.670> to<00:08:09.760> work<00:08:09.910> on<00:08:10.120> it<00:08:10.360> it's<00:08:10.570> called 00:08:10.800 --> 00:08:10.810 align:start position:0% we're continue to work on it it's called 00:08:10.810 --> 00:08:12.960 align:start position:0% we're continue to work on it it's called state<00:08:11.020> channels<00:08:11.380> we're<00:08:12.370> gonna<00:08:12.460> have<00:08:12.670> a<00:08:12.700> smooth 00:08:12.960 --> 00:08:12.970 align:start position:0% state channels we're gonna have a smooth 00:08:12.970 --> 00:08:14.250 align:start position:0% state channels we're gonna have a smooth upgrade<00:08:13.300> path<00:08:13.480> for<00:08:13.630> anyone<00:08:13.840> that's<00:08:13.930> already 00:08:14.250 --> 00:08:14.260 align:start position:0% upgrade path for anyone that's already 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00:08:22.380 align:start position:0% github you can follow us on Twitter and we're<00:08:21.130> we're<00:08:21.310> actively<00:08:21.700> doing<00:08:21.910> updates<00:08:22.240> on 00:08:22.380 --> 00:08:22.390 align:start position:0% we're we're actively doing updates on 00:08:22.390 --> 00:08:25.020 align:start position:0% we're we're actively doing updates on that<00:08:22.510> there<00:08:23.460> yeah<00:08:24.460> like<00:08:24.610> you<00:08:24.700> mentioned<00:08:24.970> this 00:08:25.020 --> 00:08:25.030 align:start position:0% that there yeah like you mentioned this 00:08:25.030 --> 00:08:26.310 align:start position:0% that there yeah like you mentioned this is<00:08:25.150> how<00:08:25.210> you<00:08:25.270> can<00:08:25.420> keep<00:08:25.570> in<00:08:25.750> touch<00:08:25.900> with<00:08:26.170> that 00:08:26.310 --> 00:08:26.320 align:start position:0% is how you can keep in touch with that 00:08:26.320 --> 00:08:26.850 align:start position:0% is how you can keep in touch with that project 00:08:26.850 --> 00:08:26.860 align:start position:0% project 00:08:26.860 --> 00:08:29.220 align:start position:0% project so<00:08:27.280> yeah<00:08:27.760> that's<00:08:27.970> mostly<00:08:28.510> the<00:08:28.630> case<00:08:28.810> one<00:08:29.050> to 00:08:29.220 --> 00:08:29.230 align:start position:0% so yeah that's mostly the case one to 00:08:29.230 --> 00:08:31.440 align:start position:0% so yeah that's mostly the case one to make<00:08:29.410> we've<00:08:29.620> taken<00:08:29.980> strides<00:08:30.460> through<00:08:30.970> all<00:08:31.210> the 00:08:31.440 --> 00:08:31.450 align:start position:0% make we've taken strides through all the 00:08:31.450 --> 00:08:32.670 align:start position:0% make we've taken strides through all the recent<00:08:31.600> efforts<00:08:31.810> this<00:08:32.140> year<00:08:32.200> of 00:08:32.670 --> 00:08:32.680 align:start position:0% recent efforts this year of 00:08:32.680 --> 00:08:34.709 align:start position:0% recent efforts this year of standardization<00:08:33.460> immediately<00:08:34.390> gotten 00:08:34.709 --> 00:08:34.719 align:start position:0% standardization immediately gotten 00:08:34.719 --> 00:08:36.450 align:start position:0% standardization immediately gotten something<00:08:35.169> in<00:08:35.289> production<00:08:35.740> that<00:08:35.919> works<00:08:36.099> based 00:08:36.450 --> 00:08:36.460 align:start position:0% something in production that works based 00:08:36.460 --> 00:08:38.070 align:start position:0% something in production that works based on<00:08:36.610> our<00:08:36.760> initial<00:08:36.969> and<00:08:37.510> I've<00:08:37.719> agreed<00:08:37.840> upon 00:08:38.070 --> 00:08:38.080 align:start position:0% on our initial and I've agreed upon 00:08:38.080 --> 00:08:40.440 align:start position:0% on our initial and I've agreed upon standards<00:08:38.320> and<00:08:38.800> we're<00:08:39.250> now<00:08:39.340> merging<00:08:39.789> projects 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align:start position:0% now I'm gonna pass it on to Tom who's going<00:08:54.550> to<00:08:54.610> talk<00:08:54.760> a<00:08:54.820> bit<00:08:54.940> more<00:08:55.060> about 00:08:55.580 --> 00:08:55.590 align:start position:0% going to talk a bit more about 00:08:55.590 --> 00:08:57.230 align:start position:0% going to talk a bit more about it's<00:08:55.770> not<00:08:56.190> just<00:08:56.370> what<00:08:56.490> we're<00:08:56.610> done<00:08:56.730> so<00:08:56.940> far<00:08:57.120> but 00:08:57.230 --> 00:08:57.240 align:start position:0% it's not just what we're done so far but 00:08:57.240 --> 00:09:02.840 align:start position:0% it's not just what we're done so far but what<00:08:57.360> we're<00:08:57.450> gonna<00:08:57.540> be<00:08:57.720> doing<00:08:57.990> next<00:09:01.820> yeah 00:09:02.840 --> 00:09:02.850 align:start position:0% what we're gonna be doing next yeah 00:09:02.850 --> 00:09:03.860 align:start position:0% what we're gonna be doing next yeah thanks<00:09:03.150> Liam 00:09:03.860 --> 00:09:03.870 align:start position:0% thanks Liam 00:09:03.870 --> 00:09:05.930 align:start position:0% thanks Liam so<00:09:04.230> I'm<00:09:04.380> Tom<00:09:04.680> Klaus<00:09:04.920> I<00:09:05.280> am<00:09:05.520> the<00:09:05.640> founder<00:09:05.910> of 00:09:05.930 --> 00:09:05.940 align:start position:0% so I'm Tom Klaus I am the founder of 00:09:05.940 --> 00:09:08.450 align:start position:0% so I'm Tom Klaus I am the founder of Mike<00:09:06.150> Mo<00:09:06.330> and<00:09:06.540> Liam<00:09:07.530> mentioned<00:09:07.980> we<00:09:08.190> are<00:09:08.220> one<00:09:08.430> of 00:09:08.450 --> 00:09:08.460 align:start position:0% Mike Mo and Liam mentioned we are one of 00:09:08.460 --> 00:09:10.640 align:start position:0% Mike Mo and Liam mentioned we are one of the<00:09:08.580> projects<00:09:09.090> have<00:09:09.180> come<00:09:09.300> together<00:09:09.600> into<00:09:10.350> the 00:09:10.640 --> 00:09:10.650 align:start position:0% the projects have come together into the 00:09:10.650 --> 00:09:13.100 align:start position:0% the projects have come together into the state<00:09:10.860> channels<00:09:11.190> to<00:09:11.400> org<00:09:11.610> project<00:09:12.270> and<00:09:12.960> I<00:09:13.080> just 00:09:13.100 --> 00:09:13.110 align:start position:0% state channels to org project and I just 00:09:13.110 --> 00:09:14.270 align:start position:0% state channels to org project and I just wanted<00:09:13.380> to<00:09:13.440> take<00:09:13.590> this<00:09:13.680> opportunity<00:09:13.770> to<00:09:14.190> thank 00:09:14.270 --> 00:09:14.280 align:start position:0% wanted to take this opportunity to thank 00:09:14.280 --> 00:09:16.070 align:start position:0% wanted to take this opportunity to thank Lee<00:09:14.700> I<00:09:14.730> mean<00:09:14.910> for<00:09:15.210> his<00:09:15.300> role<00:09:15.450> in<00:09:15.600> that<00:09:15.630> and 00:09:16.070 --> 00:09:16.080 align:start position:0% Lee I mean for his role in that and 00:09:16.080 --> 00:09:17.300 align:start position:0% Lee I mean for his role in that and really<00:09:16.260> like<00:09:16.440> getting<00:09:16.710> the<00:09:16.860> teams<00:09:17.040> to<00:09:17.220> work 00:09:17.300 --> 00:09:17.310 align:start position:0% really like getting the teams to work 00:09:17.310 --> 00:09:19.390 align:start position:0% really like getting the teams to work together<00:09:17.490> and<00:09:18.000> creating<00:09:18.690> this<00:09:18.750> project 00:09:19.390 --> 00:09:19.400 align:start position:0% together and creating this project 00:09:19.400 --> 00:09:21.860 align:start position:0% together and creating this project there's<00:09:20.400> going<00:09:20.550> to<00:09:20.610> drive<00:09:20.880> forward<00:09:21.330> state 00:09:21.860 --> 00:09:21.870 align:start position:0% there's going to drive forward state 00:09:21.870 --> 00:09:23.450 align:start position:0% there's going to drive forward state channels<00:09:22.200> and<00:09:22.320> aetherium<00:09:22.680> and<00:09:22.920> ultimately 00:09:23.450 --> 00:09:23.460 align:start position:0% channels and aetherium and ultimately 00:09:23.460 --> 00:09:25.100 align:start position:0% channels and aetherium and ultimately get<00:09:23.760> state<00:09:24.210> channels<00:09:24.540> into<00:09:24.750> the<00:09:24.810> hands<00:09:25.080> of 00:09:25.100 --> 00:09:25.110 align:start position:0% get state channels into the hands of 00:09:25.110 --> 00:09:28.160 align:start position:0% get state channels into the hands of developers<00:09:25.700> so<00:09:26.810> what<00:09:27.810> I'm<00:09:27.900> going<00:09:28.050> to<00:09:28.080> be 00:09:28.160 --> 00:09:28.170 align:start position:0% developers so what I'm going to be 00:09:28.170 --> 00:09:30.680 align:start position:0% developers so what I'm going to be talking<00:09:28.470> about<00:09:28.500> here<00:09:28.920> is<00:09:29.330> what<00:09:30.330> we've<00:09:30.540> been 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align:start position:0% months coming up so what are we actually 00:09:38.370 --> 00:09:40.670 align:start position:0% months coming up so what are we actually working<00:09:38.820> on<00:09:39.090> in<00:09:39.450> this<00:09:39.600> new<00:09:39.840> state<00:09:40.140> channels<00:09:40.530> to 00:09:40.670 --> 00:09:40.680 align:start position:0% working on in this new state channels to 00:09:40.680 --> 00:09:45.470 align:start position:0% working on in this new state channels to all<00:09:40.830> project<00:09:43.610> so<00:09:44.610> this<00:09:44.760> is<00:09:44.910> the<00:09:45.030> image<00:09:45.210> you've 00:09:45.470 --> 00:09:45.480 align:start position:0% all project so this is the image you've 00:09:45.480 --> 00:09:48.080 align:start position:0% all project so this is the image you've already<00:09:45.570> seen<00:09:45.930> from<00:09:46.230> Liam<00:09:46.940> displaying<00:09:47.940> the 00:09:48.080 --> 00:09:48.090 align:start position:0% already seen from Liam displaying the 00:09:48.090 --> 00:09:49.730 align:start position:0% already seen from Liam displaying the different<00:09:48.360> levels<00:09:48.600> of<00:09:48.660> the<00:09:48.750> stack<00:09:48.960> and<00:09:49.320> I'm 00:09:49.730 --> 00:09:49.740 align:start position:0% different levels of the stack and I'm 00:09:49.740 --> 00:09:51.230 align:start position:0% different levels of the stack and I'm just<00:09:49.950> going<00:09:50.100> to<00:09:50.190> pick<00:09:50.340> on<00:09:50.490> a<00:09:50.520> few<00:09:50.790> projects 00:09:51.230 --> 00:09:51.240 align:start position:0% just going to pick on a few projects 00:09:51.240 --> 00:09:52.490 align:start position:0% just going to pick on a few projects that<00:09:51.360> we're<00:09:51.570> working<00:09:51.690> on<00:09:51.870> at<00:09:51.960> the<00:09:52.020> moment<00:09:52.050> and 00:09:52.490 --> 00:09:52.500 align:start position:0% that we're working on at the moment and 00:09:52.500 --> 00:09:54.440 align:start position:0% that we're working on at the moment and explain<00:09:53.340> which<00:09:53.730> and<00:09:54.150> they're<00:09:54.240> all<00:09:54.360> from 00:09:54.440 --> 00:09:54.450 align:start position:0% explain which and they're all from 00:09:54.450 --> 00:09:56.060 align:start position:0% explain which and they're all from different<00:09:54.510> parts<00:09:55.020> of<00:09:55.080> this<00:09:55.170> stack<00:09:55.440> and<00:09:55.710> I'm 00:09:56.060 --> 00:09:56.070 align:start position:0% different parts of this stack and I'm 00:09:56.070 --> 00:09:57.740 align:start position:0% different parts of this stack and I'm going<00:09:56.220> to<00:09:56.250> explain<00:09:56.520> what<00:09:56.850> work<00:09:57.240> we're<00:09:57.480> doing 00:09:57.740 --> 00:09:57.750 align:start position:0% going to explain what work we're doing 00:09:57.750 --> 00:10:01.730 align:start position:0% going to explain what work we're doing and<00:09:57.990> each<00:09:58.080> of<00:09:58.200> those<00:09:58.290> projects<00:10:00.530> the<00:10:01.530> first 00:10:01.730 --> 00:10:01.740 align:start position:0% and each of those projects the first 00:10:01.740 --> 00:10:03.470 align:start position:0% and each of those projects the first project<00:10:02.190> is<00:10:02.460> project<00:10:03.120> that<00:10:03.210> we're<00:10:03.330> just 00:10:03.470 --> 00:10:03.480 align:start position:0% project is project that we're just 00:10:03.480 --> 00:10:05.780 align:start position:0% project is project that we're just calling<00:10:03.770> protocols<00:10:04.770> and<00:10:04.980> contracts<00:10:05.580> and 00:10:05.780 --> 00:10:05.790 align:start position:0% calling protocols and contracts and 00:10:05.790 --> 00:10:07.670 align:start position:0% calling protocols and contracts and that's<00:10:06.480> to<00:10:06.630> do<00:10:06.720> with<00:10:06.990> the<00:10:07.260> underlying 00:10:07.670 --> 00:10:07.680 align:start position:0% that's to do with the underlying 00:10:07.680 --> 00:10:10.010 align:start position:0% that's to do with the underlying protocols<00:10:08.550> the<00:10:08.970> challenge<00:10:09.600> and<00:10:09.690> response 00:10:10.010 --> 00:10:10.020 align:start position:0% protocols the challenge and response 00:10:10.020 --> 00:10:12.740 align:start position:0% protocols the challenge and response mechanism<00:10:10.700> and<00:10:11.700> the<00:10:11.820> contracts<00:10:12.300> that<00:10:12.360> support 00:10:12.740 --> 00:10:12.750 align:start position:0% mechanism and the contracts that support 00:10:12.750 --> 00:10:15.440 align:start position:0% mechanism and the contracts that support that<00:10:13.130> I'm<00:10:14.130> also<00:10:14.610> going<00:10:14.820> to<00:10:14.880> be<00:10:15.000> talking<00:10:15.210> a 00:10:15.440 --> 00:10:15.450 align:start position:0% that I'm also going to be talking a 00:10:15.450 --> 00:10:16.940 align:start position:0% that I'm also going to be talking a little<00:10:15.540> bit<00:10:15.690> about<00:10:15.930> our<00:10:16.290> work<00:10:16.500> on<00:10:16.680> the<00:10:16.830> client 00:10:16.940 --> 00:10:16.950 align:start position:0% little bit about our work on the client 00:10:16.950 --> 00:10:19.160 align:start position:0% little bit about our work on the client and<00:10:17.400> the<00:10:17.490> hub<00:10:17.700> so<00:10:18.420> this<00:10:18.570> is<00:10:18.690> the<00:10:18.780> stuff<00:10:18.990> that 00:10:19.160 --> 00:10:19.170 align:start position:0% and the hub so this is the stuff that 00:10:19.170 --> 00:10:20.390 align:start position:0% and the hub so this is the stuff that you<00:10:19.290> need<00:10:19.470> if<00:10:19.740> you're<00:10:19.860> actually<00:10:20.070> gonna<00:10:20.160> run<00:10:20.220> a 00:10:20.390 --> 00:10:20.400 align:start position:0% you need if you're actually gonna run a 00:10:20.400 --> 00:10:22.460 align:start position:0% you need if you're actually gonna run a state<00:10:20.730> channel<00:10:21.060> so<00:10:22.050> this<00:10:22.170> is<00:10:22.290> gonna<00:10:22.380> be 00:10:22.460 --> 00:10:22.470 align:start position:0% state channel so this is gonna be 00:10:22.470 --> 00:10:23.870 align:start position:0% state channel so this is gonna be running<00:10:22.650> on<00:10:22.800> your<00:10:22.890> browser<00:10:23.160> it's<00:10:23.640> gonna<00:10:23.760> be 00:10:23.870 --> 00:10:23.880 align:start position:0% running on your browser it's gonna be 00:10:23.880 --> 00:10:25.670 align:start position:0% running on your browser it's gonna be running<00:10:24.120> on<00:10:24.210> a<00:10:24.240> server<00:10:24.450> somewhere<00:10:24.750> it's<00:10:25.500> gonna 00:10:25.670 --> 00:10:25.680 align:start position:0% running on a server somewhere it's gonna 00:10:25.680 --> 00:10:28.730 align:start position:0% running on a server somewhere it's gonna be<00:10:25.890> running<00:10:26.580> the<00:10:26.700> wire<00:10:26.850> protocol<00:10:27.560> it's<00:10:28.560> going 00:10:28.730 --> 00:10:28.740 align:start position:0% be running the wire protocol it's going 00:10:28.740 --> 00:10:30.350 align:start position:0% be running the wire protocol it's going to<00:10:28.800> be<00:10:28.890> storing<00:10:29.220> your<00:10:29.340> States<00:10:29.610> and<00:10:30.030> all<00:10:30.120> sorts 00:10:30.350 --> 00:10:30.360 align:start position:0% to be storing your States and all sorts 00:10:30.360 --> 00:10:33.200 align:start position:0% to be storing your States and all sorts of<00:10:30.420> things<00:10:30.480> like<00:10:30.690> that<00:10:30.810> and<00:10:31.700> then<00:10:32.700> finally<00:10:33.120> I'm 00:10:33.200 --> 00:10:33.210 align:start position:0% of things like that and then finally I'm 00:10:33.210 --> 00:10:34.970 align:start position:0% of things like that and then finally I'm gonna<00:10:33.360> talk<00:10:33.630> about<00:10:33.660> a<00:10:33.900> few<00:10:33.990> things<00:10:34.200> from<00:10:34.830> right 00:10:34.970 --> 00:10:34.980 align:start position:0% gonna talk about a few things from right 00:10:34.980 --> 00:10:36.590 align:start position:0% gonna talk about a few things from right at<00:10:35.100> the<00:10:35.160> top<00:10:35.370> of<00:10:35.520> the<00:10:35.580> stack<00:10:35.820> and<00:10:36.180> in 00:10:36.590 --> 00:10:36.600 align:start position:0% at the top of the stack and in 00:10:36.600 --> 00:10:39.410 align:start position:0% at the top of the stack and in particular<00:10:36.840> I'm<00:10:37.290> going<00:10:37.560> to<00:10:37.830> focus<00:10:38.670> on<00:10:39.090> some<00:10:39.330> of 00:10:39.410 --> 00:10:39.420 align:start position:0% particular I'm going to focus on some of 00:10:39.420 --> 00:10:40.910 align:start position:0% particular I'm going to focus on some of the<00:10:39.480> ideas<00:10:39.780> we've<00:10:40.020> been<00:10:40.140> discussing<00:10:40.470> around 00:10:40.910 --> 00:10:40.920 align:start position:0% the ideas we've been discussing around 00:10:40.920 --> 00:10:44.930 align:start position:0% the ideas we've been discussing around browser<00:10:41.640> and<00:10:42.060> wallet<00:10:42.420> user<00:10:42.780> experience<00:10:43.940> use 00:10:44.930 --> 00:10:44.940 align:start position:0% browser and wallet user experience use 00:10:44.940 --> 00:10:47.330 align:start position:0% browser and wallet user experience use of<00:10:45.120> state<00:10:45.300> channels<00:10:46.130> introduces<00:10:47.130> all<00:10:47.220> these 00:10:47.330 --> 00:10:47.340 align:start position:0% of state channels introduces all these 00:10:47.340 --> 00:10:50.540 align:start position:0% of state channels introduces all these additional<00:10:48.710> challenges<00:10:49.710> in<00:10:50.010> terms<00:10:50.190> of<00:10:50.400> how 00:10:50.540 --> 00:10:50.550 align:start position:0% additional challenges in terms of how 00:10:50.550 --> 00:10:51.890 align:start position:0% additional challenges in terms of how you<00:10:50.610> explain<00:10:51.000> what<00:10:51.180> you're<00:10:51.300> doing<00:10:51.330> to<00:10:51.630> a<00:10:51.660> user 00:10:51.890 --> 00:10:51.900 align:start position:0% you explain what you're doing to a user 00:10:51.900 --> 00:10:56.810 align:start position:0% you explain what you're doing to a user and<00:10:52.860> how<00:10:53.010> you<00:10:53.070> interact<00:10:53.460> with<00:10:53.520> the<00:10:53.670> user<00:10:55.760> so<00:10:56.760> to 00:10:56.810 --> 00:10:56.820 align:start position:0% and how you interact with the user so to 00:10:56.820 --> 00:10:58.490 align:start position:0% and how you interact with the user so to start<00:10:57.030> off<00:10:57.150> with<00:10:57.390> I'm<00:10:57.600> gonna<00:10:57.720> I'm<00:10:58.260> going<00:10:58.410> to 00:10:58.490 --> 00:10:58.500 align:start position:0% start off with I'm gonna I'm going to 00:10:58.500 --> 00:11:00.020 align:start position:0% start off with I'm gonna I'm going to start<00:10:58.710> talking<00:10:58.980> about<00:10:59.040> these<00:10:59.340> protocols<00:10:59.700> and 00:11:00.020 --> 00:11:00.030 align:start position:0% start talking about these protocols and 00:11:00.030 --> 00:11:04.550 align:start position:0% start talking about these protocols and contracts<00:11:00.450> project<00:11:01.910> so<00:11:02.910> this<00:11:03.060> is<00:11:03.300> where<00:11:03.560> the 00:11:04.550 --> 00:11:04.560 align:start position:0% contracts project so this is where the 00:11:04.560 --> 00:11:06.830 align:start position:0% contracts project so this is where the majority<00:11:04.680> of<00:11:05.100> our<00:11:05.220> work<00:11:05.490> has<00:11:05.670> been<00:11:05.910> so<00:11:06.300> far<00:11:06.570> and 00:11:06.830 --> 00:11:06.840 align:start position:0% majority of our work has been so far and 00:11:06.840 --> 00:11:07.519 align:start position:0% majority of our work has been so far and so 00:11:07.519 --> 00:11:07.529 align:start position:0% so 00:11:07.529 --> 00:11:09.889 align:start position:0% so protocols<00:11:08.040> the<00:11:08.670> underlying<00:11:08.999> protocol<00:11:09.569> and 00:11:09.889 --> 00:11:09.899 align:start position:0% protocols the underlying protocol and 00:11:09.899 --> 00:11:12.889 align:start position:0% protocols the underlying protocol and the<00:11:10.259> contracts<00:11:10.920> formed<00:11:11.610> the<00:11:11.699> foundation<00:11:12.360> upon 00:11:12.889 --> 00:11:12.899 align:start position:0% the contracts formed the foundation upon 00:11:12.899 --> 00:11:15.739 align:start position:0% the contracts formed the foundation upon which<00:11:13.199> the<00:11:13.620> rest<00:11:13.800> of<00:11:13.920> the<00:11:13.980> stack<00:11:14.449> sits<00:11:15.449> and 00:11:15.739 --> 00:11:15.749 align:start position:0% which the rest of the stack sits and 00:11:15.749 --> 00:11:18.139 align:start position:0% which the rest of the stack sits and changes<00:11:16.499> in<00:11:16.620> this<00:11:16.740> layer<00:11:16.980> have<00:11:17.550> to<00:11:17.699> ripple<00:11:18.029> up 00:11:18.139 --> 00:11:18.149 align:start position:0% changes in this layer have to ripple up 00:11:18.149 --> 00:11:20.809 align:start position:0% changes in this layer have to ripple up all<00:11:18.420> the<00:11:18.509> way<00:11:18.629> through<00:11:18.870> the<00:11:18.990> stack<00:11:19.410> so<00:11:20.160> at<00:11:20.759> the 00:11:20.809 --> 00:11:20.819 align:start position:0% all the way through the stack so at the 00:11:20.819 --> 00:11:22.340 align:start position:0% all the way through the stack so at the beginning<00:11:20.910> this<00:11:21.180> con<00:11:21.389> of<00:11:21.660> this<00:11:21.870> collaboration 00:11:22.340 --> 00:11:22.350 align:start position:0% beginning this con of this collaboration 00:11:22.350 --> 00:11:24.650 align:start position:0% beginning this con of this collaboration we've<00:11:22.829> been<00:11:22.980> focused<00:11:23.459> on<00:11:23.759> trying<00:11:24.300> to<00:11:24.509> get 00:11:24.650 --> 00:11:24.660 align:start position:0% we've been focused on trying to get 00:11:24.660 --> 00:11:27.019 align:start position:0% we've been focused on trying to get consensus<00:11:25.439> at<00:11:25.709> the<00:11:25.800> base<00:11:25.980> layer<00:11:26.249> having<00:11:26.850> a 00:11:27.019 --> 00:11:27.029 align:start position:0% consensus at the base layer having a 00:11:27.029 --> 00:11:28.699 align:start position:0% consensus at the base layer having a firm<00:11:27.240> foundation<00:11:27.480> that<00:11:28.110> we<00:11:28.230> can<00:11:28.259> then<00:11:28.529> build 00:11:28.699 --> 00:11:28.709 align:start position:0% firm foundation that we can then build 00:11:28.709 --> 00:11:32.299 align:start position:0% firm foundation that we can then build on<00:11:28.920> top<00:11:29.100> of<00:11:30.170> so<00:11:31.170> we<00:11:31.319> came<00:11:31.470> to<00:11:31.529> this<00:11:31.709> project<00:11:31.889> we 00:11:32.299 --> 00:11:32.309 align:start position:0% on top of so we came to this project we 00:11:32.309 --> 00:11:34.309 align:start position:0% on top of so we came to this project we had<00:11:32.399> like<00:11:32.579> we<00:11:33.420> each<00:11:33.569> had<00:11:33.839> our<00:11:33.870> slightly 00:11:34.309 --> 00:11:34.319 align:start position:0% had like we each had our slightly 00:11:34.319 --> 00:11:36.199 align:start position:0% had like we each had our slightly different<00:11:34.559> protocols<00:11:34.980> and<00:11:35.339> over<00:11:35.610> the<00:11:35.699> past 00:11:36.199 --> 00:11:36.209 align:start position:0% different protocols and over the past 00:11:36.209 --> 00:11:37.699 align:start position:0% different protocols and over the past couple<00:11:36.389> months<00:11:36.509> we've<00:11:37.170> been<00:11:37.199> working<00:11:37.350> to 00:11:37.699 --> 00:11:37.709 align:start position:0% couple months we've been working to 00:11:37.709 --> 00:11:41.059 align:start position:0% couple months we've been working to merge<00:11:37.889> them<00:11:38.069> together<00:11:38.160> and<00:11:39.620> work<00:11:40.620> towards<00:11:40.980> a 00:11:41.059 --> 00:11:41.069 align:start position:0% merge them together and work towards a 00:11:41.069 --> 00:11:42.619 align:start position:0% merge them together and work towards a point<00:11:41.279> where<00:11:41.459> we<00:11:41.519> can<00:11:41.639> actually<00:11:41.670> freeze<00:11:42.209> these 00:11:42.619 --> 00:11:42.629 align:start position:0% point where we can actually freeze these 00:11:42.629 --> 00:11:46.340 align:start position:0% point where we can actually freeze these contracts<00:11:43.139> in<00:11:43.199> this<00:11:43.319> protocol<00:11:44.629> so<00:11:45.629> there<00:11:46.259> have 00:11:46.340 --> 00:11:46.350 align:start position:0% contracts in this protocol so there have 00:11:46.350 --> 00:11:48.860 align:start position:0% contracts in this protocol so there have been<00:11:46.439> a<00:11:46.499> couple<00:11:46.559> of<00:11:46.860> different<00:11:47.309> areas<00:11:48.089> that<00:11:48.689> we 00:11:48.860 --> 00:11:48.870 align:start position:0% been a couple of different areas that we 00:11:48.870 --> 00:11:50.449 align:start position:0% been a couple of different areas that we were<00:11:48.930> working<00:11:49.199> on<00:11:49.259> here<00:11:49.529> the<00:11:50.009> first<00:11:50.220> one<00:11:50.370> that 00:11:50.449 --> 00:11:50.459 align:start position:0% were working on here the first one that 00:11:50.459 --> 00:11:51.949 align:start position:0% were working on here the first one that I'm<00:11:50.550> going<00:11:50.579> to<00:11:50.699> talk<00:11:50.850> about<00:11:50.999> is<00:11:51.360> protocol 00:11:51.949 --> 00:11:51.959 align:start position:0% I'm going to talk about is protocol 00:11:51.959 --> 00:11:55.519 align:start position:0% I'm going to talk about is protocol hardening<00:11:52.790> so<00:11:53.790> this<00:11:53.939> goes<00:11:54.149> to<00:11:54.540> I<00:11:54.990> guess<00:11:55.319> the 00:11:55.519 --> 00:11:55.529 align:start position:0% hardening so this goes to I guess the 00:11:55.529 --> 00:11:57.769 align:start position:0% hardening so this goes to I guess the very<00:11:55.740> essence<00:11:56.220> of<00:11:56.519> what<00:11:56.879> you're<00:11:57.269> getting<00:11:57.449> from 00:11:57.769 --> 00:11:57.779 align:start position:0% very essence of what you're getting from 00:11:57.779 --> 00:12:01.280 align:start position:0% very essence of what you're getting from the<00:11:57.870> state<00:11:57.930> channel<00:11:58.470> and<00:11:59.240> the<00:12:00.240> the<00:12:00.689> guarantee 00:12:01.280 --> 00:12:01.290 align:start position:0% the state channel and the the guarantee 00:12:01.290 --> 00:12:03.739 align:start position:0% the state channel and the the guarantee that<00:12:01.529> you<00:12:01.620> want<00:12:01.800> to<00:12:01.860> give<00:12:02.009> people<00:12:02.040> is<00:12:02.720> that<00:12:03.720> a 00:12:03.739 --> 00:12:03.749 align:start position:0% that you want to give people is that a 00:12:03.749 --> 00:12:05.389 align:start position:0% that you want to give people is that a participant<00:12:04.319> in<00:12:04.439> a<00:12:04.499> state<00:12:04.769> channel<00:12:05.160> should<00:12:05.339> be 00:12:05.389 --> 00:12:05.399 align:start position:0% participant in a state channel should be 00:12:05.399 --> 00:12:07.189 align:start position:0% participant in a state channel should be able<00:12:05.550> to<00:12:05.759> progress<00:12:05.910> that<00:12:06.360> channel<00:12:06.689> or 00:12:07.189 --> 00:12:07.199 align:start position:0% able to progress that channel or 00:12:07.199 --> 00:12:08.929 align:start position:0% able to progress that channel or terminate<00:12:08.040> it<00:12:08.220> and<00:12:08.309> withdraw<00:12:08.550> their<00:12:08.730> funds 00:12:08.929 --> 00:12:08.939 align:start position:0% terminate it and withdraw their funds 00:12:08.939 --> 00:12:12.019 align:start position:0% terminate it and withdraw their funds within<00:12:09.809> a<00:12:09.959> fixed<00:12:10.259> time<00:12:10.610> regardless<00:12:11.610> of<00:12:11.910> the 00:12:12.019 --> 00:12:12.029 align:start position:0% within a fixed time regardless of the 00:12:12.029 --> 00:12:16.100 align:start position:0% within a fixed time regardless of the behavior<00:12:12.540> of<00:12:12.569> other<00:12:12.899> participants<00:12:14.389> so<00:12:15.389> even 00:12:16.100 --> 00:12:16.110 align:start position:0% behavior of other participants so even 00:12:16.110 --> 00:12:18.319 align:start position:0% behavior of other participants so even if<00:12:16.199> you're<00:12:16.350> in<00:12:16.649> a<00:12:17.100> even<00:12:17.670> if<00:12:17.759> you're<00:12:17.879> the<00:12:17.970> only 00:12:18.319 --> 00:12:18.329 align:start position:0% if you're in a even if you're the only 00:12:18.329 --> 00:12:19.999 align:start position:0% if you're in a even if you're the only honest<00:12:18.660> participant<00:12:19.379> in<00:12:19.439> a<00:12:19.529> channel<00:12:19.829> you 00:12:19.999 --> 00:12:20.009 align:start position:0% honest participant in a channel you 00:12:20.009 --> 00:12:21.590 align:start position:0% honest participant in a channel you should<00:12:20.430> still<00:12:20.819> have<00:12:20.850> safety<00:12:21.449> you<00:12:21.569> should 00:12:21.590 --> 00:12:21.600 align:start position:0% should still have safety you should 00:12:21.600 --> 00:12:23.900 align:start position:0% should still have safety you should still<00:12:21.930> be<00:12:22.050> able<00:12:22.139> to<00:12:22.379> withdraw<00:12:22.620> your<00:12:22.920> funds<00:12:23.160> in 00:12:23.900 --> 00:12:23.910 align:start position:0% still be able to withdraw your funds in 00:12:23.910 --> 00:12:25.639 align:start position:0% still be able to withdraw your funds in you<00:12:24.180> if<00:12:24.569> you<00:12:24.660> need<00:12:24.809> to<00:12:24.990> and<00:12:25.110> not<00:12:25.259> have<00:12:25.319> them 00:12:25.639 --> 00:12:25.649 align:start position:0% you if you need to and not have them 00:12:25.649 --> 00:12:29.590 align:start position:0% you if you need to and not have them indefinitely<00:12:26.009> locked<00:12:26.220> in<00:12:26.370> the<00:12:26.430> channel<00:12:28.430> so 00:12:29.590 --> 00:12:29.600 align:start position:0% indefinitely locked in the channel so 00:12:29.600 --> 00:12:32.900 align:start position:0% indefinitely locked in the channel so we've<00:12:30.600> been<00:12:30.720> looking<00:12:30.990> into<00:12:31.110> this<00:12:31.819> when<00:12:32.819> we 00:12:32.900 --> 00:12:32.910 align:start position:0% we've been looking into this when we 00:12:32.910 --> 00:12:34.249 align:start position:0% we've been looking into this when we came<00:12:33.059> into<00:12:33.180> this<00:12:33.360> we<00:12:33.540> were<00:12:33.629> pretty<00:12:33.809> sure<00:12:34.050> that 00:12:34.249 --> 00:12:34.259 align:start position:0% came into this we were pretty sure that 00:12:34.259 --> 00:12:36.769 align:start position:0% came into this we were pretty sure that our<00:12:34.410> protocol<00:12:35.040> was<00:12:35.220> already<00:12:35.550> already<00:12:36.449> pretty 00:12:36.769 --> 00:12:36.779 align:start position:0% our protocol was already already pretty 00:12:36.779 --> 00:12:38.420 align:start position:0% our protocol was already already pretty good<00:12:36.990> and<00:12:37.230> didn't<00:12:37.740> have<00:12:37.800> many<00:12:37.980> holes<00:12:38.220> we've 00:12:38.420 --> 00:12:38.430 align:start position:0% good and didn't have many holes we've 00:12:38.430 --> 00:12:39.290 align:start position:0% good and didn't have many holes we've been<00:12:38.579> thinking<00:12:38.819> about<00:12:38.910> it<00:12:39.029> for<00:12:39.059> a<00:12:39.149> long<00:12:39.269> time 00:12:39.290 --> 00:12:39.300 align:start position:0% been thinking about it for a long time 00:12:39.300 --> 00:12:41.829 align:start position:0% been thinking about it for a long time and<00:12:39.839> then<00:12:40.350> we<00:12:40.439> started<00:12:40.769> using<00:12:40.920> this<00:12:41.160> new<00:12:41.370> tool 00:12:41.829 --> 00:12:41.839 align:start position:0% and then we started using this new tool 00:12:41.839 --> 00:12:44.210 align:start position:0% and then we started using this new tool so<00:12:42.839> we've<00:12:42.959> been<00:12:43.050> using<00:12:43.259> this<00:12:43.410> tool<00:12:43.649> called<00:12:43.889> TL 00:12:44.210 --> 00:12:44.220 align:start position:0% so we've been using this tool called TL 00:12:44.220 --> 00:12:48.549 align:start position:0% so we've been using this tool called TL A+<00:12:44.639> which<00:12:45.540> was<00:12:45.899> a<00:12:46.350> I<00:12:47.339> guess<00:12:47.639> it's<00:12:47.790> a<00:12:47.910> protocol 00:12:48.549 --> 00:12:48.559 align:start position:0% A+ which was a I guess it's a protocol 00:12:48.559 --> 00:12:51.769 align:start position:0% A+ which was a I guess it's a protocol specification<00:12:49.559> language<00:12:49.980> and<00:12:50.779> protocol 00:12:51.769 --> 00:12:51.779 align:start position:0% specification language and protocol 00:12:51.779 --> 00:12:53.419 align:start position:0% specification language and protocol verifier<00:12:52.319> and<00:12:52.470> checker<00:12:52.649> that<00:12:52.920> was<00:12:53.040> invented 00:12:53.419 --> 00:12:53.429 align:start position:0% verifier and checker that was invented 00:12:53.429 --> 00:12:57.139 align:start position:0% verifier and checker that was invented by<00:12:53.550> Leslie<00:12:53.879> Lamport<00:12:54.470> so<00:12:55.470> it's<00:12:55.620> for<00:12:56.149> checking 00:12:57.139 --> 00:12:57.149 align:start position:0% by Leslie Lamport so it's for checking 00:12:57.149 --> 00:13:00.919 align:start position:0% by Leslie Lamport so it's for checking the<00:12:57.269> behavior<00:12:57.720> distributed<00:12:58.379> systems<00:12:59.360> and<00:13:00.360> we 00:13:00.919 --> 00:13:00.929 align:start position:0% the behavior distributed systems and we 00:13:00.929 --> 00:13:04.009 align:start position:0% the behavior distributed systems and we built<00:13:01.649> a<00:13:01.769> model<00:13:01.920> of<00:13:02.370> our<00:13:02.970> protocol<00:13:03.509> in<00:13:03.779> this 00:13:04.009 --> 00:13:04.019 align:start position:0% built a model of our protocol in this 00:13:04.019 --> 00:13:06.410 align:start position:0% built a model of our protocol in this specification<00:13:04.850> run<00:13:05.850> it<00:13:05.970> through<00:13:06.059> the<00:13:06.209> checker 00:13:06.410 --> 00:13:06.420 align:start position:0% specification run it through the checker 00:13:06.420 --> 00:13:08.660 align:start position:0% specification run it through the checker and<00:13:06.779> it<00:13:07.050> just<00:13:07.559> threw<00:13:07.829> up<00:13:07.920> a<00:13:08.069> ton<00:13:08.279> of<00:13:08.309> problems 00:13:08.660 --> 00:13:08.670 align:start position:0% and it just threw up a ton of problems 00:13:08.670 --> 00:13:11.119 align:start position:0% and it just threw up a ton of problems that<00:13:08.790> we<00:13:08.850> hadn't<00:13:09.089> thought<00:13:09.179> about<00:13:09.860> so<00:13:10.860> this<00:13:10.980> was 00:13:11.119 --> 00:13:11.129 align:start position:0% that we hadn't thought about so this was 00:13:11.129 --> 00:13:13.970 align:start position:0% that we hadn't thought about so this was really<00:13:11.309> interesting<00:13:11.629> and<00:13:12.629> I'm<00:13:13.410> going<00:13:13.949> to 00:13:13.970 --> 00:13:13.980 align:start position:0% really interesting and I'm going to 00:13:13.980 --> 00:13:15.079 align:start position:0% really interesting and I'm going to point<00:13:14.129> you<00:13:14.249> to<00:13:14.370> some<00:13:14.519> where<00:13:14.610> you<00:13:14.639> can<00:13:14.819> find<00:13:14.999> out 00:13:15.079 --> 00:13:15.089 align:start position:0% point you to some where you can find out 00:13:15.089 --> 00:13:16.460 align:start position:0% point you to some where you can find out more<00:13:15.209> about<00:13:15.269> it 00:13:16.460 --> 00:13:16.470 align:start position:0% more about it 00:13:16.470 --> 00:13:19.760 align:start position:0% more about it the<00:13:16.950> I<00:13:17.670> guess<00:13:18.120> the<00:13:18.390> to<00:13:19.230> give<00:13:19.350> you<00:13:19.410> an<00:13:19.500> idea<00:13:19.620> of 00:13:19.760 --> 00:13:19.770 align:start position:0% the I guess the to give you an idea of 00:13:19.770 --> 00:13:22.370 align:start position:0% the I guess the to give you an idea of the<00:13:19.860> sort<00:13:20.040> of<00:13:20.070> problems<00:13:20.610> that<00:13:20.820> it<00:13:20.910> threw<00:13:21.090> up<00:13:21.380> it 00:13:22.370 --> 00:13:22.380 align:start position:0% the sort of problems that it threw up it 00:13:22.380 --> 00:13:26.210 align:start position:0% the sort of problems that it threw up it was<00:13:22.620> things<00:13:23.130> like<00:13:23.510> if<00:13:24.510> you<00:13:24.840> are<00:13:25.170> able<00:13:25.710> to<00:13:25.920> front 00:13:26.210 --> 00:13:26.220 align:start position:0% was things like if you are able to front 00:13:26.220 --> 00:13:28.280 align:start position:0% was things like if you are able to front run<00:13:26.280> transactions<00:13:27.000> so<00:13:27.600> it's<00:13:27.810> pretty<00:13:27.990> easy<00:13:28.140> to 00:13:28.280 --> 00:13:28.290 align:start position:0% run transactions so it's pretty easy to 00:13:28.290 --> 00:13:29.930 align:start position:0% run transactions so it's pretty easy to die<00:13:28.530> in<00:13:28.590> a<00:13:28.680> state<00:13:28.860> channel<00:13:29.190> framework<00:13:29.670> so<00:13:29.910> that 00:13:29.930 --> 00:13:29.940 align:start position:0% die in a state channel framework so that 00:13:29.940 --> 00:13:31.520 align:start position:0% die in a state channel framework so that if<00:13:30.420> I<00:13:30.540> can<00:13:30.690> get<00:13:30.780> a<00:13:30.810> transaction<00:13:31.260> into<00:13:31.440> the 00:13:31.520 --> 00:13:31.530 align:start position:0% if I can get a transaction into the 00:13:31.530 --> 00:13:33.350 align:start position:0% if I can get a transaction into the chain<00:13:31.740> then<00:13:32.400> I<00:13:32.820> can<00:13:32.970> definitely<00:13:33.060> progress 00:13:33.350 --> 00:13:33.360 align:start position:0% chain then I can definitely progress 00:13:33.360 --> 00:13:36.500 align:start position:0% chain then I can definitely progress this<00:13:33.630> the<00:13:33.960> State<00:13:34.590> Channel<00:13:35.060> what<00:13:36.060> we<00:13:36.180> started 00:13:36.500 --> 00:13:36.510 align:start position:0% this the State Channel what we started 00:13:36.510 --> 00:13:38.300 align:start position:0% this the State Channel what we started thinking<00:13:36.750> about<00:13:36.840> is<00:13:37.020> what<00:13:37.200> happens<00:13:37.650> if<00:13:38.160> you 00:13:38.300 --> 00:13:38.310 align:start position:0% thinking about is what happens if you 00:13:38.310 --> 00:13:40.220 align:start position:0% thinking about is what happens if you can<00:13:38.430> get<00:13:38.610> transaction<00:13:39.120> into<00:13:39.210> the<00:13:39.360> chain<00:13:39.600> but 00:13:40.220 --> 00:13:40.230 align:start position:0% can get transaction into the chain but 00:13:40.230 --> 00:13:42.080 align:start position:0% can get transaction into the chain but if<00:13:40.380> your<00:13:40.500> opponent<00:13:40.590> can<00:13:41.460> get<00:13:41.820> another 00:13:42.080 --> 00:13:42.090 align:start position:0% if your opponent can get another 00:13:42.090 --> 00:13:44.210 align:start position:0% if your opponent can get another transaction<00:13:42.450> in<00:13:42.720> before<00:13:42.990> yours<00:13:43.200> what<00:13:43.860> happens 00:13:44.210 --> 00:13:44.220 align:start position:0% transaction in before yours what happens 00:13:44.220 --> 00:13:45.950 align:start position:0% transaction in before yours what happens then<00:13:44.460> and<00:13:44.820> we<00:13:45.180> found<00:13:45.300> that<00:13:45.480> in<00:13:45.630> certain 00:13:45.950 --> 00:13:45.960 align:start position:0% then and we found that in certain 00:13:45.960 --> 00:13:48.170 align:start position:0% then and we found that in certain circumstances<00:13:46.340> your<00:13:47.340> attacker<00:13:47.760> could<00:13:47.940> like 00:13:48.170 --> 00:13:48.180 align:start position:0% circumstances your attacker could like 00:13:48.180 --> 00:13:50.960 align:start position:0% circumstances your attacker could like lock<00:13:48.960> the<00:13:49.230> channel<00:13:49.560> forever<00:13:49.920> which<00:13:50.700> is<00:13:50.820> pretty 00:13:50.960 --> 00:13:50.970 align:start position:0% lock the channel forever which is pretty 00:13:50.970 --> 00:13:54.080 align:start position:0% lock the channel forever which is pretty bad<00:13:51.590> so<00:13:52.590> this<00:13:52.800> is<00:13:52.920> really<00:13:53.040> interesting<00:13:53.190> I 00:13:54.080 --> 00:13:54.090 align:start position:0% bad so this is really interesting I 00:13:54.090 --> 00:13:56.240 align:start position:0% bad so this is really interesting I think<00:13:54.660> we're<00:13:54.750> now<00:13:54.840> in<00:13:54.960> a<00:13:55.020> place<00:13:55.170> where<00:13:55.650> we've 00:13:56.240 --> 00:13:56.250 align:start position:0% think we're now in a place where we've 00:13:56.250 --> 00:13:58.280 align:start position:0% think we're now in a place where we've closed<00:13:56.490> up<00:13:56.730> a<00:13:56.820> lot<00:13:56.940> of<00:13:57.030> those<00:13:57.150> holes<00:13:57.420> if<00:13:58.110> you 00:13:58.280 --> 00:13:58.290 align:start position:0% closed up a lot of those holes if you 00:13:58.290 --> 00:14:00.560 align:start position:0% closed up a lot of those holes if you want<00:13:58.440> to<00:13:58.500> find<00:13:58.650> out<00:13:58.830> more<00:13:59.010> about<00:13:59.070> this<00:13:59.570> you 00:14:00.560 --> 00:14:00.570 align:start position:0% want to find out more about this you 00:14:00.570 --> 00:14:02.270 align:start position:0% want to find out more about this you should<00:14:00.600> go<00:14:00.870> to<00:14:00.930> this<00:14:01.140> Research<00:14:01.590> Forum<00:14:01.950> which 00:14:02.270 --> 00:14:02.280 align:start position:0% should go to this Research Forum which 00:14:02.280 --> 00:14:04.700 align:start position:0% should go to this Research Forum which we've<00:14:02.550> open-sourced<00:14:03.420> today<00:14:03.630> so<00:14:04.410> if<00:14:04.500> you<00:14:04.560> go<00:14:04.680> to 00:14:04.700 --> 00:14:04.710 align:start position:0% we've open-sourced today so if you go to 00:14:04.710 --> 00:14:07.010 align:start position:0% we've open-sourced today so if you go to research<00:14:05.160> dot<00:14:05.460> state<00:14:05.700> channels<00:14:06.000> to<00:14:06.120> org<00:14:06.300> you 00:14:07.010 --> 00:14:07.020 align:start position:0% research dot state channels to org you 00:14:07.020 --> 00:14:08.780 align:start position:0% research dot state channels to org you can<00:14:07.200> see<00:14:07.440> about<00:14:07.830> a<00:14:07.890> lot<00:14:08.070> of<00:14:08.100> the<00:14:08.190> conversations 00:14:08.780 --> 00:14:08.790 align:start position:0% can see about a lot of the conversations 00:14:08.790 --> 00:14:11.360 align:start position:0% can see about a lot of the conversations that<00:14:08.880> are<00:14:09.030> going<00:14:09.150> on<00:14:09.980> some<00:14:10.980> of<00:14:11.100> the<00:14:11.160> things 00:14:11.360 --> 00:14:11.370 align:start position:0% that are going on some of the things 00:14:11.370 --> 00:14:13.070 align:start position:0% that are going on some of the things that<00:14:11.460> been<00:14:11.670> thrown<00:14:11.850> at<00:14:12.030> the<00:14:12.180> highlighted<00:14:12.960> by 00:14:13.070 --> 00:14:13.080 align:start position:0% that been thrown at the highlighted by 00:14:13.080 --> 00:14:14.800 align:start position:0% that been thrown at the highlighted by the<00:14:13.140> A+<00:14:13.680> stuff<00:14:13.950> and<00:14:14.220> other<00:14:14.370> conversations 00:14:14.800 --> 00:14:14.810 align:start position:0% the A+ stuff and other conversations 00:14:14.810 --> 00:14:18.230 align:start position:0% the A+ stuff and other conversations about<00:14:15.810> the<00:14:16.020> protocol<00:14:16.380> level<00:14:17.240> specification 00:14:18.230 --> 00:14:18.240 align:start position:0% about the protocol level specification 00:14:18.240 --> 00:14:20.660 align:start position:0% about the protocol level specification and<00:14:18.390> later<00:14:18.900> we<00:14:19.170> also<00:14:19.470> have<00:14:19.800> this<00:14:20.340> basically 00:14:20.660 --> 00:14:20.670 align:start position:0% and later we also have this basically 00:14:20.670 --> 00:14:22.280 align:start position:0% and later we also have this basically going<00:14:20.850> to<00:14:20.940> be<00:14:21.000> our<00:14:21.300> place<00:14:21.600> where<00:14:21.870> we<00:14:21.960> discuss 00:14:22.280 --> 00:14:22.290 align:start position:0% going to be our place where we discuss 00:14:22.290 --> 00:14:27.380 align:start position:0% going to be our place where we discuss all<00:14:22.560> the<00:14:22.680> changes<00:14:23.130> to<00:14:23.160> this<00:14:23.600> protocol<00:14:26.390> right 00:14:27.380 --> 00:14:27.390 align:start position:0% all the changes to this protocol right 00:14:27.390 --> 00:14:28.520 align:start position:0% all the changes to this protocol right the<00:14:27.660> next<00:14:27.900> thing<00:14:28.140> that<00:14:28.260> we've<00:14:28.350> been<00:14:28.410> working 00:14:28.520 --> 00:14:28.530 align:start position:0% the next thing that we've been working 00:14:28.530 --> 00:14:31.280 align:start position:0% the next thing that we've been working on<00:14:28.830> is<00:14:29.070> gas<00:14:29.370> optimized<00:14:30.000> contracts<00:14:30.690> so<00:14:31.140> you're 00:14:31.280 --> 00:14:31.290 align:start position:0% on is gas optimized contracts so you're 00:14:31.290 --> 00:14:32.510 align:start position:0% on is gas optimized contracts so you're probably<00:14:31.380> aware<00:14:31.680> the<00:14:31.740> whole<00:14:32.010> point<00:14:32.220> of<00:14:32.310> state 00:14:32.510 --> 00:14:32.520 align:start position:0% probably aware the whole point of state 00:14:32.520 --> 00:14:36.050 align:start position:0% probably aware the whole point of state channels<00:14:32.910> is<00:14:33.320> to<00:14:34.320> help<00:14:34.890> change<00:14:35.370> scaling<00:14:35.880> and 00:14:36.050 --> 00:14:36.060 align:start position:0% channels is to help change scaling and 00:14:36.060 --> 00:14:39.770 align:start position:0% channels is to help change scaling and throughput<00:14:36.900> and<00:14:37.580> your<00:14:38.580> ability<00:14:39.000> as<00:14:39.270> a<00:14:39.300> scaling 00:14:39.770 --> 00:14:39.780 align:start position:0% throughput and your ability as a scaling 00:14:39.780 --> 00:14:43.310 align:start position:0% throughput and your ability as a scaling solution<00:14:40.320> is<00:14:40.560> very<00:14:41.430> much<00:14:41.700> limited<00:14:42.240> if<00:14:42.900> it 00:14:43.310 --> 00:14:43.320 align:start position:0% solution is very much limited if it 00:14:43.320 --> 00:14:45.260 align:start position:0% solution is very much limited if it costs<00:14:43.800> a<00:14:43.830> lot<00:14:43.950> to<00:14:44.100> open<00:14:44.490> and<00:14:44.670> close<00:14:44.850> a<00:14:44.880> state 00:14:45.260 --> 00:14:45.270 align:start position:0% costs a lot to open and close a state 00:14:45.270 --> 00:14:46.880 align:start position:0% costs a lot to open and close a state channel<00:14:45.600> so<00:14:46.200> for<00:14:46.350> us<00:14:46.440> coming<00:14:46.680> into<00:14:46.770> this 00:14:46.880 --> 00:14:46.890 align:start position:0% channel so for us coming into this 00:14:46.890 --> 00:14:48.500 align:start position:0% channel so for us coming into this project<00:14:47.100> this<00:14:47.430> was<00:14:47.550> a<00:14:47.610> very<00:14:47.850> important<00:14:48.330> thing 00:14:48.500 --> 00:14:48.510 align:start position:0% project this was a very important thing 00:14:48.510 --> 00:14:50.150 align:start position:0% project this was a very important thing we<00:14:48.690> want<00:14:48.870> it<00:14:48.990> to<00:14:49.050> be<00:14:49.140> really<00:14:49.440> cheap<00:14:49.680> to<00:14:49.860> open 00:14:50.150 --> 00:14:50.160 align:start position:0% we want it to be really cheap to open 00:14:50.160 --> 00:14:51.650 align:start position:0% we want it to be really cheap to open and<00:14:50.310> close<00:14:50.490> a<00:14:50.520> state<00:14:51.000> channel<00:14:51.240> on<00:14:51.300> the<00:14:51.390> happy 00:14:51.650 --> 00:14:51.660 align:start position:0% and close a state channel on the happy 00:14:51.660 --> 00:14:54.140 align:start position:0% and close a state channel on the happy case<00:14:51.840> and<00:14:52.140> also<00:14:52.560> as<00:14:52.860> cheap<00:14:53.040> as<00:14:53.160> possible<00:14:53.190> to 00:14:54.140 --> 00:14:54.150 align:start position:0% case and also as cheap as possible to 00:14:54.150 --> 00:14:55.940 align:start position:0% case and also as cheap as possible to launch<00:14:54.690> a<00:14:54.870> challenge<00:14:55.200> and<00:14:55.440> respond<00:14:55.800> to<00:14:55.890> a 00:14:55.940 --> 00:14:55.950 align:start position:0% launch a challenge and respond to a 00:14:55.950 --> 00:15:00.260 align:start position:0% launch a challenge and respond to a challenge<00:14:56.340> if<00:14:56.610> there's<00:14:57.150> bad<00:14:57.300> behavior<00:14:58.670> so<00:14:59.670> we 00:15:00.260 --> 00:15:00.270 align:start position:0% challenge if there's bad behavior so we 00:15:00.270 --> 00:15:01.640 align:start position:0% challenge if there's bad behavior so we have<00:15:00.390> these<00:15:00.480> two<00:15:00.720> metrics<00:15:00.900> the<00:15:01.290> first<00:15:01.470> one 00:15:01.640 --> 00:15:01.650 align:start position:0% have these two metrics the first one 00:15:01.650 --> 00:15:02.810 align:start position:0% have these two metrics the first one which<00:15:01.770> I've<00:15:01.860> just<00:15:01.890> described<00:15:02.339> is<00:15:02.490> the<00:15:02.580> happy 00:15:02.810 --> 00:15:02.820 align:start position:0% which I've just described is the happy 00:15:02.820 --> 00:15:04.910 align:start position:0% which I've just described is the happy path<00:15:03.000> and<00:15:03.360> that's<00:15:03.870> how<00:15:04.140> much<00:15:04.290> it<00:15:04.470> costs<00:15:04.500> to 00:15:04.910 --> 00:15:04.920 align:start position:0% path and that's how much it costs to 00:15:04.920 --> 00:15:07.100 align:start position:0% path and that's how much it costs to deposit<00:15:05.400> into<00:15:05.520> the<00:15:05.610> state<00:15:05.790> channel<00:15:06.120> to<00:15:06.750> close 00:15:07.100 --> 00:15:07.110 align:start position:0% deposit into the state channel to close 00:15:07.110 --> 00:15:08.750 align:start position:0% deposit into the state channel to close the<00:15:07.320> state<00:15:07.530> channel<00:15:07.890> collaboratively<00:15:08.430> and 00:15:08.750 --> 00:15:08.760 align:start position:0% the state channel collaboratively and 00:15:08.760 --> 00:15:11.329 align:start position:0% the state channel collaboratively and then<00:15:09.180> withdraw<00:15:09.360> your<00:15:09.690> funds<00:15:09.930> and<00:15:10.260> when<00:15:11.250> we 00:15:11.329 --> 00:15:11.339 align:start position:0% then withdraw your funds and when we 00:15:11.339 --> 00:15:13.910 align:start position:0% then withdraw your funds and when we started<00:15:11.700> out<00:15:11.880> this<00:15:12.750> was<00:15:12.900> pretty<00:15:13.080> expensive<00:15:13.350> so 00:15:13.910 --> 00:15:13.920 align:start position:0% started out this was pretty expensive so 00:15:13.920 --> 00:15:17.420 align:start position:0% started out this was pretty expensive so this<00:15:14.010> was<00:15:14.250> six<00:15:14.760> hundred<00:15:14.910> counts<00:15:15.770> which<00:15:16.770> is<00:15:17.010> I 00:15:17.420 --> 00:15:17.430 align:start position:0% this was six hundred counts which is I 00:15:17.430 --> 00:15:19.940 align:start position:0% this was six hundred counts which is I guess<00:15:17.790> like<00:15:17.940> 30<00:15:18.240> transactions<00:15:18.930> may<00:15:19.650> be<00:15:19.710> a<00:15:19.770> few 00:15:19.940 --> 00:15:19.950 align:start position:0% guess like 30 transactions may be a few 00:15:19.950 --> 00:15:21.470 align:start position:0% guess like 30 transactions may be a few slightly<00:15:20.250> fewer<00:15:20.400> than<00:15:20.490> that<00:15:20.670> but<00:15:20.910> like<00:15:21.060> that's 00:15:21.470 --> 00:15:21.480 align:start position:0% slightly fewer than that but like that's 00:15:21.480 --> 00:15:23.180 align:start position:0% slightly fewer than that but like that's pretty<00:15:21.740> significant<00:15:22.740> like<00:15:22.860> you<00:15:22.920> need<00:15:23.040> to<00:15:23.100> be 00:15:23.180 --> 00:15:23.190 align:start position:0% pretty significant like you need to be 00:15:23.190 --> 00:15:25.070 align:start position:0% pretty significant like you need to be doing<00:15:23.370> quite<00:15:23.400> a<00:15:23.640> lot<00:15:23.820> of<00:15:24.000> activity<00:15:24.900> in<00:15:24.930> your 00:15:25.070 --> 00:15:25.080 align:start position:0% doing quite a lot of activity in your 00:15:25.080 --> 00:15:26.570 align:start position:0% doing quite a lot of activity in your state<00:15:25.260> channel<00:15:25.530> to<00:15:25.620> make<00:15:25.710> it<00:15:25.860> work<00:15:26.010> it's<00:15:26.490> this 00:15:26.570 --> 00:15:26.580 align:start position:0% state channel to make it work it's this 00:15:26.580 --> 00:15:28.490 align:start position:0% state channel to make it work it's this expensive<00:15:27.089> and<00:15:27.780> we've<00:15:27.900> now<00:15:28.020> managed<00:15:28.320> to<00:15:28.410> get 00:15:28.490 --> 00:15:28.500 align:start position:0% expensive and we've now managed to get 00:15:28.500 --> 00:15:29.490 align:start position:0% expensive and we've now managed to get that<00:15:28.650> down<00:15:28.890> to 00:15:29.490 --> 00:15:29.500 align:start position:0% that down to 00:15:29.500 --> 00:15:32.490 align:start position:0% that down to sixty-five<00:15:30.070> if<00:15:30.850> you're<00:15:31.000> using<00:15:31.120> eath<00:15:31.470> 185<00:15:32.470> or 00:15:32.490 --> 00:15:32.500 align:start position:0% sixty-five if you're using eath 185 or 00:15:32.500 --> 00:15:35.130 align:start position:0% sixty-five if you're using eath 185 or ERC<00:15:33.160> twenty<00:15:33.490> so<00:15:34.030> this<00:15:34.210> is<00:15:34.330> these<00:15:34.630> are<00:15:34.690> changes 00:15:35.130 --> 00:15:35.140 align:start position:0% ERC twenty so this is these are changes 00:15:35.140 --> 00:15:36.240 align:start position:0% ERC twenty so this is these are changes that<00:15:35.290> happen<00:15:35.560> in<00:15:35.620> the<00:15:35.740> last<00:15:35.890> couple<00:15:36.160> months 00:15:36.240 --> 00:15:36.250 align:start position:0% that happen in the last couple months 00:15:36.250 --> 00:15:38.430 align:start position:0% that happen in the last couple months most<00:15:36.880> these<00:15:37.000> changes<00:15:37.480> are<00:15:37.780> due<00:15:38.080> to<00:15:38.290> like 00:15:38.430 --> 00:15:38.440 align:start position:0% most these changes are due to like 00:15:38.440 --> 00:15:40.290 align:start position:0% most these changes are due to like basically<00:15:39.340> reducing<00:15:39.850> the<00:15:39.910> amount<00:15:40.090> of<00:15:40.150> stuff 00:15:40.290 --> 00:15:40.300 align:start position:0% basically reducing the amount of stuff 00:15:40.300 --> 00:15:43.260 align:start position:0% basically reducing the amount of stuff you<00:15:40.450> store<00:15:40.690> and<00:15:40.810> chain<00:15:41.020> and<00:15:41.910> we<00:15:42.910> think<00:15:43.090> we<00:15:43.150> can 00:15:43.260 --> 00:15:43.270 align:start position:0% you store and chain and we think we can 00:15:43.270 --> 00:15:44.910 align:start position:0% you store and chain and we think we can do<00:15:43.420> even<00:15:43.450> better<00:15:43.780> than<00:15:43.960> that<00:15:44.020> though<00:15:44.410> this<00:15:44.770> is 00:15:44.910 --> 00:15:44.920 align:start position:0% do even better than that though this is 00:15:44.920 --> 00:15:46.440 align:start position:0% do even better than that though this is before<00:15:45.100> we've<00:15:45.400> started<00:15:45.520> like<00:15:45.970> matching 00:15:46.440 --> 00:15:46.450 align:start position:0% before we've started like matching 00:15:46.450 --> 00:15:47.910 align:start position:0% before we've started like matching transactions<00:15:46.990> and<00:15:47.140> stuff<00:15:47.320> so<00:15:47.560> we<00:15:47.650> think<00:15:47.770> we 00:15:47.910 --> 00:15:47.920 align:start position:0% transactions and stuff so we think we 00:15:47.920 --> 00:15:50.250 align:start position:0% transactions and stuff so we think we can<00:15:48.040> bring<00:15:48.190> this<00:15:48.340> down<00:15:48.400> even<00:15:48.550> further<00:15:48.940> and<00:15:49.330> the 00:15:50.250 --> 00:15:50.260 align:start position:0% can bring this down even further and the 00:15:50.260 --> 00:15:51.600 align:start position:0% can bring this down even further and the second<00:15:50.500> part<00:15:50.680> of<00:15:50.740> that<00:15:50.920> is<00:15:51.100> the<00:15:51.280> challenge 00:15:51.600 --> 00:15:51.610 align:start position:0% second part of that is the challenge 00:15:51.610 --> 00:15:53.250 align:start position:0% second part of that is the challenge part<00:15:51.820> so<00:15:52.240> how<00:15:52.390> much<00:15:52.480> does<00:15:52.600> it<00:15:52.690> cost<00:15:52.750> to<00:15:53.080> launch 00:15:53.250 --> 00:15:53.260 align:start position:0% part so how much does it cost to launch 00:15:53.260 --> 00:15:54.960 align:start position:0% part so how much does it cost to launch a<00:15:53.380> challenge<00:15:53.740> if<00:15:53.920> your<00:15:54.040> opponent<00:15:54.460> blocks<00:15:54.670> and 00:15:54.960 --> 00:15:54.970 align:start position:0% a challenge if your opponent blocks and 00:15:54.970 --> 00:15:56.700 align:start position:0% a challenge if your opponent blocks and then<00:15:55.390> how<00:15:55.510> much<00:15:55.630> they're<00:15:55.840> cost<00:15:56.080> to<00:15:56.260> respond<00:15:56.590> to 00:15:56.700 --> 00:15:56.710 align:start position:0% then how much they're cost to respond to 00:15:56.710 --> 00:15:59.970 align:start position:0% then how much they're cost to respond to that<00:15:56.800> challenge<00:15:57.010> and<00:15:57.540> this<00:15:58.540> was<00:15:58.740> originally<00:15:59.740> a 00:15:59.970 --> 00:15:59.980 align:start position:0% that challenge and this was originally a 00:15:59.980 --> 00:16:03.780 align:start position:0% that challenge and this was originally a whopping<00:16:00.570> 11,000<00:16:01.570> gasps<00:16:01.750> 1,100<00:16:02.680> gasps<00:16:02.860> condom 00:16:03.780 --> 00:16:03.790 align:start position:0% whopping 11,000 gasps 1,100 gasps condom 00:16:03.790 --> 00:16:04.860 align:start position:0% whopping 11,000 gasps 1,100 gasps condom breed<00:16:03.940> numbers<00:16:04.180> anymore 00:16:04.860 --> 00:16:04.870 align:start position:0% breed numbers anymore 00:16:04.870 --> 00:16:06.510 align:start position:0% breed numbers anymore we've<00:16:05.410> now<00:16:05.530> managed<00:16:05.770> to<00:16:05.860> get<00:16:05.920> that<00:16:06.070> down<00:16:06.250> to 00:16:06.510 --> 00:16:06.520 align:start position:0% we've now managed to get that down to 00:16:06.520 --> 00:16:10.590 align:start position:0% we've now managed to get that down to 200<00:16:07.000> K<00:16:07.120> cos<00:16:08.250> so<00:16:09.250> we're<00:16:09.850> beginning<00:16:09.940> to<00:16:10.180> get<00:16:10.330> into 00:16:10.590 --> 00:16:10.600 align:start position:0% 200 K cos so we're beginning to get into 00:16:10.600 --> 00:16:12.810 align:start position:0% 200 K cos so we're beginning to get into the<00:16:10.690> range<00:16:10.870> where<00:16:11.260> these<00:16:11.950> things<00:16:12.190> make<00:16:12.520> sense 00:16:12.810 --> 00:16:12.820 align:start position:0% the range where these things make sense 00:16:12.820 --> 00:16:15.180 align:start position:0% the range where these things make sense and<00:16:13.240> it<00:16:13.990> makes<00:16:14.230> sense<00:16:14.440> to<00:16:14.650> use<00:16:14.830> this<00:16:14.980> as<00:16:15.130> a 00:16:15.180 --> 00:16:15.190 align:start position:0% and it makes sense to use this as a 00:16:15.190 --> 00:16:23.130 align:start position:0% and it makes sense to use this as a scaling<00:16:15.550> solution<00:16:20.700> finally<00:16:21.700> and<00:16:22.420> the<00:16:22.810> final 00:16:23.130 --> 00:16:23.140 align:start position:0% scaling solution finally and the final 00:16:23.140 --> 00:16:24.780 align:start position:0% scaling solution finally and the final part<00:16:23.470> of<00:16:23.590> this<00:16:23.740> that<00:16:23.980> we're<00:16:24.100> working<00:16:24.220> on<00:16:24.460> is 00:16:24.780 --> 00:16:24.790 align:start position:0% part of this that we're working on is 00:16:24.790 --> 00:16:27.420 align:start position:0% part of this that we're working on is the<00:16:25.000> protocol<00:16:25.480> and<00:16:25.840> contract<00:16:26.590> documentation 00:16:27.420 --> 00:16:27.430 align:start position:0% the protocol and contract documentation 00:16:27.430 --> 00:16:29.190 align:start position:0% the protocol and contract documentation so<00:16:28.300> if<00:16:28.390> you<00:16:28.480> want<00:16:28.630> to<00:16:28.690> find<00:16:28.810> out<00:16:28.990> more<00:16:29.140> about 00:16:29.190 --> 00:16:29.200 align:start position:0% so if you want to find out more about 00:16:29.200 --> 00:16:31.620 align:start position:0% so if you want to find out more about these<00:16:29.530> protocols<00:16:30.130> today<00:16:30.550> you<00:16:31.150> have<00:16:31.300> to<00:16:31.420> go<00:16:31.510> and 00:16:31.620 --> 00:16:31.630 align:start position:0% these protocols today you have to go and 00:16:31.630 --> 00:16:32.850 align:start position:0% these protocols today you have to go and read<00:16:31.840> a<00:16:31.870> couple<00:16:32.230> of<00:16:32.320> different<00:16:32.560> research 00:16:32.850 --> 00:16:32.860 align:start position:0% read a couple of different research 00:16:32.860 --> 00:16:35.250 align:start position:0% read a couple of different research papers<00:16:33.250> and<00:16:33.490> most<00:16:34.450> those<00:16:34.570> papers<00:16:34.870> are<00:16:34.990> out<00:16:35.080> of 00:16:35.250 --> 00:16:35.260 align:start position:0% papers and most those papers are out of 00:16:35.260 --> 00:16:37.020 align:start position:0% papers and most those papers are out of date<00:16:35.410> because<00:16:35.770> of<00:16:36.310> these<00:16:36.460> changes<00:16:36.610> that<00:16:36.940> we've 00:16:37.020 --> 00:16:37.030 align:start position:0% date because of these changes that we've 00:16:37.030 --> 00:16:39.480 align:start position:0% date because of these changes that we've made<00:16:37.060> in<00:16:37.300> the<00:16:37.360> last<00:16:37.480> couple<00:16:37.660> months<00:16:38.339> so<00:16:39.339> what 00:16:39.480 --> 00:16:39.490 align:start position:0% made in the last couple months so what 00:16:39.490 --> 00:16:41.460 align:start position:0% made in the last couple months so what we've<00:16:39.610> been<00:16:39.700> trying<00:16:39.910> to<00:16:39.940> produce<00:16:40.120> is<00:16:40.600> an 00:16:41.460 --> 00:16:41.470 align:start position:0% we've been trying to produce is an 00:16:41.470 --> 00:16:42.990 align:start position:0% we've been trying to produce is an authoritive<00:16:42.070> and<00:16:42.370> always<00:16:42.700> up<00:16:42.850> to<00:16:42.880> date 00:16:42.990 --> 00:16:43.000 align:start position:0% authoritive and always up to date 00:16:43.000 --> 00:16:44.850 align:start position:0% authoritive and always up to date specification<00:16:43.930> at<00:16:44.170> the<00:16:44.260> protocol<00:16:44.650> and 00:16:44.850 --> 00:16:44.860 align:start position:0% specification at the protocol and 00:16:44.860 --> 00:16:47.579 align:start position:0% specification at the protocol and contracts<00:16:45.400> so<00:16:46.360> this<00:16:46.510> living<00:16:46.870> documentation 00:16:47.579 --> 00:16:47.589 align:start position:0% contracts so this living documentation 00:16:47.589 --> 00:16:50.160 align:start position:0% contracts so this living documentation there's<00:16:47.920> always<00:16:48.160> guarantees<00:16:48.850> to<00:16:49.450> have<00:16:49.630> the 00:16:50.160 --> 00:16:50.170 align:start position:0% there's always guarantees to have the 00:16:50.170 --> 00:16:53.150 align:start position:0% there's always guarantees to have the most<00:16:50.320> accurate<00:16:50.530> up-to-date<00:16:50.920> information<00:16:51.850> and 00:16:53.150 --> 00:16:53.160 align:start position:0% most accurate up-to-date information and 00:16:53.160 --> 00:16:55.290 align:start position:0% most accurate up-to-date information and we've<00:16:54.160> made<00:16:54.250> some<00:16:54.430> progress<00:16:54.520> on<00:16:54.760> that<00:16:54.910> still 00:16:55.290 --> 00:16:55.300 align:start position:0% we've made some progress on that still 00:16:55.300 --> 00:16:56.700 align:start position:0% we've made some progress on that still working<00:16:55.600> progress<00:16:55.780> we<00:16:56.110> hope<00:16:56.290> to<00:16:56.410> be<00:16:56.500> able<00:16:56.560> to 00:16:56.700 --> 00:16:56.710 align:start position:0% working progress we hope to be able to 00:16:56.710 --> 00:16:58.110 align:start position:0% working progress we hope to be able to release<00:16:57.010> this<00:16:57.250> in<00:16:57.610> the<00:16:57.730> next<00:16:57.910> couple<00:16:58.030> of 00:16:58.110 --> 00:16:58.120 align:start position:0% release this in the next couple of 00:16:58.120 --> 00:17:02.370 align:start position:0% release this in the next couple of months<00:16:58.860> but<00:16:59.880> this<00:17:00.880> will<00:17:01.089> exist<00:17:01.240> in<00:17:01.690> the<00:17:01.900> future 00:17:02.370 --> 00:17:02.380 align:start position:0% months but this will exist in the future 00:17:02.380 --> 00:17:03.690 align:start position:0% months but this will exist in the future and<00:17:02.470> this<00:17:02.589> is<00:17:02.710> an<00:17:02.770> important<00:17:03.130> part<00:17:03.370> of<00:17:03.550> what 00:17:03.690 --> 00:17:03.700 align:start position:0% and this is an important part of what 00:17:03.700 --> 00:17:06.540 align:start position:0% and this is an important part of what we're<00:17:03.820> working<00:17:03.850> on<00:17:04.470> in<00:17:05.470> order<00:17:05.620> to<00:17:05.800> help<00:17:06.069> the 00:17:06.540 --> 00:17:06.550 align:start position:0% we're working on in order to help the 00:17:06.550 --> 00:17:08.760 align:start position:0% we're working on in order to help the community<00:17:06.939> like<00:17:07.209> understand<00:17:08.050> and<00:17:08.439> use<00:17:08.620> this 00:17:08.760 --> 00:17:08.770 align:start position:0% community like understand and use this 00:17:08.770 --> 00:17:12.960 align:start position:0% community like understand and use this framework<00:17:09.750> so<00:17:10.750> our<00:17:10.870> goal<00:17:11.050> here<00:17:11.079> and<00:17:11.850> this<00:17:12.850> is 00:17:12.960 --> 00:17:12.970 align:start position:0% framework so our goal here and this is 00:17:12.970 --> 00:17:14.280 align:start position:0% framework so our goal here and this is going<00:17:13.089> to<00:17:13.150> be<00:17:13.209> the<00:17:13.270> focus<00:17:13.630> mostly<00:17:14.110> for<00:17:14.230> the 00:17:14.280 --> 00:17:14.290 align:start position:0% going to be the focus mostly for the 00:17:14.290 --> 00:17:16.439 align:start position:0% going to be the focus mostly for the next<00:17:14.589> three<00:17:14.740> months<00:17:14.860> so<00:17:15.790> we<00:17:15.880> want<00:17:16.030> by<00:17:16.150> the<00:17:16.180> end 00:17:16.439 --> 00:17:16.449 align:start position:0% next three months so we want by the end 00:17:16.449 --> 00:17:20.220 align:start position:0% next three months so we want by the end of<00:17:16.780> 2019<00:17:17.730> to<00:17:18.730> be<00:17:18.850> able<00:17:18.970> to<00:17:19.120> freeze<00:17:19.630> and<00:17:19.959> release 00:17:20.220 --> 00:17:20.230 align:start position:0% of 2019 to be able to freeze and release 00:17:20.230 --> 00:17:23.790 align:start position:0% of 2019 to be able to freeze and release the<00:17:20.860> v1<00:17:21.280> protocol<00:17:21.910> and<00:17:22.900> that's<00:17:23.530> going<00:17:23.740> to 00:17:23.790 --> 00:17:23.800 align:start position:0% the v1 protocol and that's going to 00:17:23.800 --> 00:17:26.429 align:start position:0% the v1 protocol and that's going to include<00:17:24.010> a<00:17:24.520> fully<00:17:24.970> robust<00:17:25.270> protocol<00:17:25.780> the 00:17:26.429 --> 00:17:26.439 align:start position:0% include a fully robust protocol the 00:17:26.439 --> 00:17:28.710 align:start position:0% include a fully robust protocol the optimized<00:17:26.920> and<00:17:27.160> verified<00:17:27.610> smart<00:17:28.120> contracts 00:17:28.710 --> 00:17:28.720 align:start position:0% optimized and verified smart contracts 00:17:28.720 --> 00:17:34.620 align:start position:0% optimized and verified smart contracts and<00:17:28.900> full<00:17:29.500> documentation<00:17:33.180> okay<00:17:34.180> so<00:17:34.240> I'm<00:17:34.540> now 00:17:34.620 --> 00:17:34.630 align:start position:0% and full documentation okay so I'm now 00:17:34.630 --> 00:17:35.670 align:start position:0% and full documentation okay so I'm now going<00:17:34.690> to<00:17:34.870> talk<00:17:34.990> a<00:17:35.050> little<00:17:35.200> bit<00:17:35.350> about<00:17:35.470> the 00:17:35.670 --> 00:17:35.680 align:start position:0% going to talk a little bit about the 00:17:35.680 --> 00:17:37.170 align:start position:0% going to talk a little bit about the client<00:17:35.950> in<00:17:36.040> the<00:17:36.100> hub<00:17:36.310> so<00:17:36.610> this<00:17:36.760> is<00:17:36.850> work<00:17:37.000> that 00:17:37.170 --> 00:17:37.180 align:start position:0% client in the hub so this is work that 00:17:37.180 --> 00:17:40.320 align:start position:0% client in the hub so this is work that we're<00:17:37.270> doing<00:17:37.300> in<00:17:37.540> parallel<00:17:37.929> but<00:17:38.230> like<00:17:39.060> so<00:17:40.060> this 00:17:40.320 --> 00:17:40.330 align:start position:0% we're doing in parallel but like so this 00:17:40.330 --> 00:17:42.220 align:start position:0% we're doing in parallel but like so this is<00:17:40.390> like<00:17:40.510> teeing<00:17:40.929> it<00:17:40.990> up<00:17:41.170> for<00:17:41.350> the<00:17:41.410> next<00:17:41.590> thing 00:17:42.220 --> 00:17:42.230 align:start position:0% is like teeing it up for the next thing 00:17:42.230 --> 00:17:43.450 align:start position:0% is like teeing it up for the next thing going<00:17:42.380> to<00:17:42.440> work<00:17:42.530> on<00:17:42.799> when<00:17:43.010> we've<00:17:43.130> managed<00:17:43.400> to 00:17:43.450 --> 00:17:43.460 align:start position:0% going to work on when we've managed to 00:17:43.460 --> 00:17:47.680 align:start position:0% going to work on when we've managed to freeze<00:17:43.700> the<00:17:43.850> protocol<00:17:45.580> so<00:17:46.580> the<00:17:47.000> goal<00:17:47.179> here<00:17:47.540> is 00:17:47.680 --> 00:17:47.690 align:start position:0% freeze the protocol so the goal here is 00:17:47.690 --> 00:17:49.450 align:start position:0% freeze the protocol so the goal here is to<00:17:47.720> provide<00:17:48.049> a<00:17:48.350> reference<00:17:48.590> client<00:17:49.130> and<00:17:49.250> hub 00:17:49.450 --> 00:17:49.460 align:start position:0% to provide a reference client and hub 00:17:49.460 --> 00:17:52.360 align:start position:0% to provide a reference client and hub that<00:17:49.850> implement<00:17:50.330> the<00:17:50.360> protocol<00:17:50.809> and<00:17:51.370> this 00:17:52.360 --> 00:17:52.370 align:start position:0% that implement the protocol and this 00:17:52.370 --> 00:17:54.460 align:start position:0% that implement the protocol and this will<00:17:52.580> be<00:17:52.700> something<00:17:52.910> that<00:17:53.090> wallet<00:17:53.900> users<00:17:54.230> can 00:17:54.460 --> 00:17:54.470 align:start position:0% will be something that wallet users can 00:17:54.470 --> 00:17:56.860 align:start position:0% will be something that wallet users can take<00:17:54.679> wallet<00:17:55.640> creators<00:17:56.210> can<00:17:56.390> take<00:17:56.540> and<00:17:56.750> put 00:17:56.860 --> 00:17:56.870 align:start position:0% take wallet creators can take and put 00:17:56.870 --> 00:17:58.030 align:start position:0% take wallet creators can take and put into<00:17:57.110> their<00:17:57.230> wallets<00:17:57.350> it's<00:17:57.679> going<00:17:57.830> to<00:17:57.890> have 00:17:58.030 --> 00:17:58.040 align:start position:0% into their wallets it's going to have 00:17:58.040 --> 00:17:59.710 align:start position:0% into their wallets it's going to have libraries<00:17:58.520> that<00:17:58.910> if<00:17:59.179> you<00:17:59.330> want<00:17:59.480> to<00:17:59.600> build 00:17:59.710 --> 00:17:59.720 align:start position:0% libraries that if you want to build 00:17:59.720 --> 00:18:01.780 align:start position:0% libraries that if you want to build everything<00:17:59.990> from<00:18:00.169> scratch<00:18:00.260> you<00:18:00.679> can<00:18:00.710> and<00:18:01.220> it's 00:18:01.780 --> 00:18:01.790 align:start position:0% everything from scratch you can and it's 00:18:01.790 --> 00:18:03.130 align:start position:0% everything from scratch you can and it's basically<00:18:02.090> gonna<00:18:02.240> have<00:18:02.390> the<00:18:02.480> design<00:18:02.720> patterns 00:18:03.130 --> 00:18:03.140 align:start position:0% basically gonna have the design patterns 00:18:03.140 --> 00:18:04.780 align:start position:0% basically gonna have the design patterns of<00:18:03.320> actually<00:18:03.590> how<00:18:03.770> to<00:18:03.799> interact<00:18:04.400> with<00:18:04.520> this 00:18:04.780 --> 00:18:04.790 align:start position:0% of actually how to interact with this 00:18:04.790 --> 00:18:09.820 align:start position:0% of actually how to interact with this protocol<00:18:05.980> and<00:18:08.350> there<00:18:09.350> are<00:18:09.410> lots<00:18:09.559> of<00:18:09.620> things 00:18:09.820 --> 00:18:09.830 align:start position:0% protocol and there are lots of things 00:18:09.830 --> 00:18:13.060 align:start position:0% protocol and there are lots of things this<00:18:09.919> needs<00:18:10.130> to<00:18:10.220> do<00:18:11.140> so<00:18:12.140> we're<00:18:12.590> merging<00:18:12.830> these 00:18:13.060 --> 00:18:13.070 align:start position:0% this needs to do so we're merging these 00:18:13.070 --> 00:18:15.039 align:start position:0% this needs to do so we're merging these two<00:18:13.130> code<00:18:13.490> bases<00:18:13.940> one<00:18:14.299> Campania<00:18:14.720> factional 00:18:15.039 --> 00:18:15.049 align:start position:0% two code bases one Campania factional 00:18:15.049 --> 00:18:17.799 align:start position:0% two code bases one Campania factional month<00:18:15.200> of<00:18:15.320> magma<00:18:15.620> and<00:18:16.120> both<00:18:17.120> of<00:18:17.150> these<00:18:17.450> code 00:18:17.799 --> 00:18:17.809 align:start position:0% month of magma and both of these code 00:18:17.809 --> 00:18:20.020 align:start position:0% month of magma and both of these code bases<00:18:18.230> did<00:18:18.590> a<00:18:18.620> subset<00:18:19.160> of<00:18:19.190> these<00:18:19.400> things<00:18:19.700> and 00:18:20.020 --> 00:18:20.030 align:start position:0% bases did a subset of these things and 00:18:20.030 --> 00:18:21.640 align:start position:0% bases did a subset of these things and we're<00:18:20.480> trying<00:18:20.690> to<00:18:20.780> merge<00:18:20.960> them<00:18:21.169> together<00:18:21.290> to 00:18:21.640 --> 00:18:21.650 align:start position:0% we're trying to merge them together to 00:18:21.650 --> 00:18:23.049 align:start position:0% we're trying to merge them together to get<00:18:21.799> one<00:18:21.980> that<00:18:22.160> does<00:18:22.309> everything<00:18:22.520> that<00:18:22.850> it 00:18:23.049 --> 00:18:23.059 align:start position:0% get one that does everything that it 00:18:23.059 --> 00:18:25.180 align:start position:0% get one that does everything that it needs<00:18:23.150> to<00:18:23.360> and<00:18:23.690> so<00:18:24.230> that<00:18:24.350> includes<00:18:24.590> robustly 00:18:25.180 --> 00:18:25.190 align:start position:0% needs to and so that includes robustly 00:18:25.190 --> 00:18:26.740 align:start position:0% needs to and so that includes robustly storing<00:18:25.580> your<00:18:25.669> states<00:18:26.000> these<00:18:26.330> are<00:18:26.510> states 00:18:26.740 --> 00:18:26.750 align:start position:0% storing your states these are states 00:18:26.750 --> 00:18:28.150 align:start position:0% storing your states these are states like<00:18:26.960> money<00:18:27.200> in<00:18:27.350> a<00:18:27.440> state<00:18:27.679> channel<00:18:27.980> if<00:18:28.070> you 00:18:28.150 --> 00:18:28.160 align:start position:0% like money in a state channel if you 00:18:28.160 --> 00:18:31.150 align:start position:0% like money in a state channel if you lose<00:18:28.340> them<00:18:28.520> you<00:18:28.549> lose<00:18:28.820> lose<00:18:29.540> money<00:18:30.160> validate 00:18:31.150 --> 00:18:31.160 align:start position:0% lose them you lose lose money validate 00:18:31.160 --> 00:18:33.640 align:start position:0% lose them you lose lose money validate transitions<00:18:31.640> detect<00:18:32.600> and<00:18:32.750> respond<00:18:33.110> on<00:18:33.380> chain 00:18:33.640 --> 00:18:33.650 align:start position:0% transitions detect and respond on chain 00:18:33.650 --> 00:18:36.610 align:start position:0% transitions detect and respond on chain challenges<00:18:34.690> launch<00:18:35.690> your<00:18:35.870> own<00:18:35.929> challenges<00:18:36.530> if 00:18:36.610 --> 00:18:36.620 align:start position:0% challenges launch your own challenges if 00:18:36.620 --> 00:18:39.430 align:start position:0% challenges launch your own challenges if you<00:18:36.710> need<00:18:36.860> to<00:18:37.070> and<00:18:37.660> support<00:18:38.660> virtual<00:18:39.080> channels 00:18:39.430 --> 00:18:39.440 align:start position:0% you need to and support virtual channels 00:18:39.440 --> 00:18:42.460 align:start position:0% you need to and support virtual channels through<00:18:40.040> the<00:18:40.130> hub<00:18:40.690> so<00:18:41.690> this<00:18:42.200> is<00:18:42.290> another 00:18:42.460 --> 00:18:42.470 align:start position:0% through the hub so this is another 00:18:42.470 --> 00:18:44.110 align:start position:0% through the hub so this is another another<00:18:42.950> part<00:18:43.580> of<00:18:43.640> the<00:18:43.700> work<00:18:43.820> that<00:18:43.850> we're 00:18:44.110 --> 00:18:44.120 align:start position:0% another part of the work that we're 00:18:44.120 --> 00:18:45.490 align:start position:0% another part of the work that we're working<00:18:44.210> on<00:18:44.480> and<00:18:44.720> we'll<00:18:44.960> also<00:18:45.080> be<00:18:45.320> working 00:18:45.490 --> 00:18:45.500 align:start position:0% working on and we'll also be working 00:18:45.500 --> 00:18:47.140 align:start position:0% working on and we'll also be working pretty<00:18:45.980> hard<00:18:46.070> to<00:18:46.400> try<00:18:46.549> and<00:18:46.580> merge<00:18:46.760> those<00:18:47.000> two 00:18:47.140 --> 00:18:47.150 align:start position:0% pretty hard to try and merge those two 00:18:47.150 --> 00:18:48.640 align:start position:0% pretty hard to try and merge those two code<00:18:47.299> bases<00:18:47.660> together<00:18:47.780> over<00:18:48.230> the<00:18:48.320> next<00:18:48.350> three 00:18:48.640 --> 00:18:48.650 align:start position:0% code bases together over the next three 00:18:48.650 --> 00:18:51.340 align:start position:0% code bases together over the next three months<00:18:48.679> and<00:18:49.630> finally<00:18:50.630> I<00:18:50.660> want<00:18:50.840> to<00:18:50.900> talk<00:18:51.080> very 00:18:51.340 --> 00:18:51.350 align:start position:0% months and finally I want to talk very 00:18:51.350 --> 00:18:54.360 align:start position:0% months and finally I want to talk very briefly<00:18:51.470> about<00:18:51.890> some<00:18:52.700> browser<00:18:53.030> wallet<00:18:53.540> UX 00:18:54.360 --> 00:18:54.370 align:start position:0% briefly about some browser wallet UX 00:18:54.370 --> 00:18:56.940 align:start position:0% briefly about some browser wallet UX design<00:18:55.370> things<00:18:55.790> we're<00:18:55.970> thinking<00:18:56.090> about<00:18:56.330> and 00:18:56.940 --> 00:18:56.950 align:start position:0% design things we're thinking about and 00:18:56.950 --> 00:18:58.930 align:start position:0% design things we're thinking about and these<00:18:57.950> are<00:18:58.100> things<00:18:58.250> that<00:18:58.370> I<00:18:58.490> think<00:18:58.730> the<00:18:58.820> whole 00:18:58.930 --> 00:18:58.940 align:start position:0% these are things that I think the whole 00:18:58.940 --> 00:19:00.780 align:start position:0% these are things that I think the whole community<00:18:59.059> will<00:18:59.480> have<00:18:59.570> to<00:18:59.630> get<00:18:59.809> involved<00:19:00.169> in 00:19:00.780 --> 00:19:00.790 align:start position:0% community will have to get involved in 00:19:00.790 --> 00:19:03.870 align:start position:0% community will have to get involved in but<00:19:01.790> we've<00:19:01.910> spent<00:19:02.150> we're<00:19:02.900> trying<00:19:03.110> to<00:19:03.169> build<00:19:03.290> a 00:19:03.870 --> 00:19:03.880 align:start position:0% but we've spent we're trying to build a 00:19:03.880 --> 00:19:06.100 align:start position:0% but we've spent we're trying to build a example<00:19:04.880> application<00:19:05.419> and<00:19:05.690> thinking<00:19:05.990> I've 00:19:06.100 --> 00:19:06.110 align:start position:0% example application and thinking I've 00:19:06.110 --> 00:19:08.560 align:start position:0% example application and thinking I've been<00:19:06.260> thinking<00:19:06.650> a<00:19:06.710> lot<00:19:06.740> about<00:19:07.419> what<00:19:08.419> the 00:19:08.560 --> 00:19:08.570 align:start position:0% been thinking a lot about what the 00:19:08.570 --> 00:19:10.180 align:start position:0% been thinking a lot about what the actual<00:19:08.809> user<00:19:09.140> and<00:19:09.350> experience<00:19:09.980> with<00:19:10.130> the 00:19:10.180 --> 00:19:10.190 align:start position:0% actual user and experience with the 00:19:10.190 --> 00:19:13.659 align:start position:0% actual user and experience with the state<00:19:10.370> channel<00:19:10.610> could<00:19:10.730> look<00:19:10.850> like<00:19:12.669> so 00:19:13.659 --> 00:19:13.669 align:start position:0% state channel could look like so 00:19:13.669 --> 00:19:15.850 align:start position:0% state channel could look like so questions<00:19:14.030> if<00:19:14.210> we<00:19:14.240> think<00:19:14.360> about<00:19:14.510> here<00:19:14.840> is<00:19:15.080> how 00:19:15.850 --> 00:19:15.860 align:start position:0% questions if we think about here is how 00:19:15.860 --> 00:19:17.049 align:start position:0% questions if we think about here is how should<00:19:16.010> a<00:19:16.100> user<00:19:16.309> interact<00:19:16.700> with<00:19:16.820> a<00:19:16.850> state 00:19:17.049 --> 00:19:17.059 align:start position:0% should a user interact with a state 00:19:17.059 --> 00:19:19.450 align:start position:0% should a user interact with a state channel<00:19:17.360> how<00:19:18.290> do<00:19:18.350> you<00:19:18.440> explain<00:19:18.710> to<00:19:18.950> user<00:19:19.190> that 00:19:19.450 --> 00:19:19.460 align:start position:0% channel how do you explain to user that 00:19:19.460 --> 00:19:20.590 align:start position:0% channel how do you explain to user that they're<00:19:19.549> locking<00:19:19.700> some<00:19:19.940> funds<00:19:20.150> and<00:19:20.299> they're 00:19:20.590 --> 00:19:20.600 align:start position:0% they're locking some funds and they're 00:19:20.600 --> 00:19:22.600 align:start position:0% they're locking some funds and they're going<00:19:20.690> to<00:19:20.780> be<00:19:20.900> able<00:19:20.990> to<00:19:21.140> doing<00:19:21.530> things<00:19:22.280> but 00:19:22.600 --> 00:19:22.610 align:start position:0% going to be able to doing things but 00:19:22.610 --> 00:19:23.770 align:start position:0% going to be able to doing things but their<00:19:22.760> fronts<00:19:23.090> are<00:19:23.150> kind<00:19:23.330> of<00:19:23.390> locked<00:19:23.570> and<00:19:23.690> they 00:19:23.770 --> 00:19:23.780 align:start position:0% their fronts are kind of locked and they 00:19:23.780 --> 00:19:27.820 align:start position:0% their fronts are kind of locked and they have<00:19:23.870> to<00:19:23.929> do<00:19:24.020> something<00:19:24.260> to<00:19:24.320> get<00:19:24.410> out<00:19:26.830> another 00:19:27.820 --> 00:19:27.830 align:start position:0% have to do something to get out another 00:19:27.830 --> 00:19:31.120 align:start position:0% have to do something to get out another question<00:19:28.340> is<00:19:28.669> can<00:19:29.299> we<00:19:29.360> avoid<00:19:29.860> approving<00:19:30.860> every 00:19:31.120 --> 00:19:31.130 align:start position:0% question is can we avoid approving every 00:19:31.130 --> 00:19:33.430 align:start position:0% question is can we avoid approving every single<00:19:31.429> signature<00:19:31.790> so<00:19:32.210> anyone<00:19:32.510> who's<00:19:32.809> used 00:19:33.430 --> 00:19:33.440 align:start position:0% single signature so anyone who's used 00:19:33.440 --> 00:19:34.210 align:start position:0% single signature so anyone who's used the<00:19:33.559> DAP 00:19:34.210 --> 00:19:34.220 align:start position:0% the DAP 00:19:34.220 --> 00:19:35.980 align:start position:0% the DAP today<00:19:34.700> will<00:19:34.970> be<00:19:35.150> used<00:19:35.390> to<00:19:35.540> getting<00:19:35.750> a<00:19:35.809> meta 00:19:35.980 --> 00:19:35.990 align:start position:0% today will be used to getting a meta 00:19:35.990 --> 00:19:38.470 align:start position:0% today will be used to getting a meta mascot<00:19:36.980> now<00:19:37.400> the<00:19:37.460> whole<00:19:37.669> point<00:19:37.940> of<00:19:38.120> state 00:19:38.470 --> 00:19:38.480 align:start position:0% mascot now the whole point of state 00:19:38.480 --> 00:19:40.510 align:start position:0% mascot now the whole point of state channels<00:19:38.840> is<00:19:39.080> to<00:19:39.410> allow<00:19:39.620> multiple 00:19:40.510 --> 00:19:40.520 align:start position:0% channels is to allow multiple 00:19:40.520 --> 00:19:42.310 align:start position:0% channels is to allow multiple transactions<00:19:41.030> a<00:19:41.120> second<00:19:41.480> and<00:19:41.690> you<00:19:41.929> don't<00:19:42.140> want 00:19:42.310 --> 00:19:42.320 align:start position:0% transactions a second and you don't want 00:19:42.320 --> 00:19:44.110 align:start position:0% transactions a second and you don't want to<00:19:42.410> be<00:19:42.470> doing<00:19:42.679> multiple<00:19:43.070> meta<00:19:43.250> mass<00:19:43.460> pop-ups<00:19:44.030> a 00:19:44.110 --> 00:19:44.120 align:start position:0% to be doing multiple meta mass pop-ups a 00:19:44.120 --> 00:19:48.310 align:start position:0% to be doing multiple meta mass pop-ups a second<00:19:44.570> so<00:19:45.530> can<00:19:45.740> we<00:19:45.860> avoid<00:19:46.100> that<00:19:47.140> coming<00:19:48.140> in 00:19:48.310 --> 00:19:48.320 align:start position:0% second so can we avoid that coming in 00:19:48.320 --> 00:19:50.049 align:start position:0% second so can we avoid that coming in our<00:19:48.470> wallet<00:19:48.950> can<00:19:49.190> we<00:19:49.250> allow<00:19:49.400> our<00:19:49.549> client<00:19:49.940> to 00:19:50.049 --> 00:19:50.059 align:start position:0% our wallet can we allow our client to 00:19:50.059 --> 00:19:51.850 align:start position:0% our wallet can we allow our client to sign<00:19:50.210> some<00:19:50.450> things<00:19:50.600> for<00:19:50.809> you<00:19:50.990> and<00:19:51.620> in<00:19:51.799> that 00:19:51.850 --> 00:19:51.860 align:start position:0% sign some things for you and in that 00:19:51.860 --> 00:19:53.560 align:start position:0% sign some things for you and in that case<00:19:52.100> how<00:19:52.700> much<00:19:52.850> these<00:19:53.059> years<00:19:53.240> I<00:19:53.330> have<00:19:53.450> to 00:19:53.560 --> 00:19:53.570 align:start position:0% case how much these years I have to 00:19:53.570 --> 00:19:55.660 align:start position:0% case how much these years I have to trust<00:19:53.809> the<00:19:53.960> app<00:19:54.110> you<00:19:54.799> know<00:19:54.919> if<00:19:55.100> the 00:19:55.660 --> 00:19:55.670 align:start position:0% trust the app you know if the 00:19:55.670 --> 00:19:57.610 align:start position:0% trust the app you know if the Klein<00:19:55.820> is<00:19:55.970> just<00:19:56.150> gonna<00:19:56.300> sign<00:19:56.930> things<00:19:57.230> the<00:19:57.500> out 00:19:57.610 --> 00:19:57.620 align:start position:0% Klein is just gonna sign things the out 00:19:57.620 --> 00:19:59.440 align:start position:0% Klein is just gonna sign things the out sentence<00:19:58.010> to<00:19:58.130> it<00:19:58.250> how<00:19:58.850> can<00:19:58.910> we<00:19:59.090> keep<00:19:59.210> the 00:19:59.440 --> 00:19:59.450 align:start position:0% sentence to it how can we keep the 00:19:59.450 --> 00:20:03.370 align:start position:0% sentence to it how can we keep the client<00:20:00.050> their<00:20:00.290> user<00:20:00.590> safe<00:20:02.140> which<00:20:03.140> is<00:20:03.170> this 00:20:03.370 --> 00:20:03.380 align:start position:0% client their user safe which is this 00:20:03.380 --> 00:20:05.020 align:start position:0% client their user safe which is this next<00:20:03.590> question<00:20:03.860> to<00:20:03.980> what<00:20:04.160> extent<00:20:04.190> can<00:20:04.700> your 00:20:05.020 --> 00:20:05.030 align:start position:0% next question to what extent can your 00:20:05.030 --> 00:20:06.820 align:start position:0% next question to what extent can your channel<00:20:05.390> wallet<00:20:05.690> protect<00:20:06.050> you 00:20:06.820 --> 00:20:06.830 align:start position:0% channel wallet protect you 00:20:06.830 --> 00:20:11.110 align:start position:0% channel wallet protect you and<00:20:07.780> then<00:20:08.780> finally<00:20:09.260> what<00:20:10.190> policies<00:20:10.760> should<00:20:10.790> a 00:20:11.110 --> 00:20:11.120 align:start position:0% and then finally what policies should a 00:20:11.120 --> 00:20:12.700 align:start position:0% and then finally what policies should a channel<00:20:11.450> wallet<00:20:11.660> be<00:20:11.780> able<00:20:11.960> to<00:20:12.050> enforce<00:20:12.380> and 00:20:12.700 --> 00:20:12.710 align:start position:0% channel wallet be able to enforce and 00:20:12.710 --> 00:20:15.760 align:start position:0% channel wallet be able to enforce and very<00:20:13.580> quickly<00:20:14.200> we're<00:20:15.200> thinking<00:20:15.590> we're 00:20:15.760 --> 00:20:15.770 align:start position:0% very quickly we're thinking we're 00:20:15.770 --> 00:20:16.780 align:start position:0% very quickly we're thinking we're beginning<00:20:16.010> to<00:20:16.040> think<00:20:16.310> that<00:20:16.580> the<00:20:16.730> state 00:20:16.780 --> 00:20:16.790 align:start position:0% beginning to think that the state 00:20:16.790 --> 00:20:18.820 align:start position:0% beginning to think that the state channels<00:20:17.300> the<00:20:17.720> thing<00:20:17.900> that<00:20:18.050> makes<00:20:18.230> sense<00:20:18.500> is 00:20:18.820 --> 00:20:18.830 align:start position:0% channels the thing that makes sense is 00:20:18.830 --> 00:20:20.530 align:start position:0% channels the thing that makes sense is to<00:20:18.980> have<00:20:19.100> a<00:20:19.130> policy<00:20:19.640> based<00:20:19.850> permission<00:20:20.360> system 00:20:20.530 --> 00:20:20.540 align:start position:0% to have a policy based permission system 00:20:20.540 --> 00:20:23.290 align:start position:0% to have a policy based permission system so<00:20:21.230> you<00:20:21.290> like<00:20:21.560> approve<00:20:22.040> a<00:20:22.070> budget<00:20:22.400> for<00:20:23.000> an<00:20:23.090> app 00:20:23.290 --> 00:20:23.300 align:start position:0% so you like approve a budget for an app 00:20:23.300 --> 00:20:25.780 align:start position:0% so you like approve a budget for an app rather<00:20:24.140> than<00:20:24.530> you're<00:20:25.160> approving<00:20:25.700> each 00:20:25.780 --> 00:20:25.790 align:start position:0% rather than you're approving each 00:20:25.790 --> 00:20:30.670 align:start position:0% rather than you're approving each channel<00:20:26.480> or<00:20:26.720> each<00:20:27.940> each<00:20:28.940> interaction<00:20:29.270> so<00:20:30.140> you 00:20:30.670 --> 00:20:30.680 align:start position:0% channel or each each interaction so you 00:20:30.680 --> 00:20:32.080 align:start position:0% channel or each each interaction so you could<00:20:30.800> imagine<00:20:30.890> maybe<00:20:31.640> something<00:20:31.910> look<00:20:32.060> like 00:20:32.080 --> 00:20:32.090 align:start position:0% could imagine maybe something look like 00:20:32.090 --> 00:20:33.970 align:start position:0% could imagine maybe something look like this<00:20:32.270> in<00:20:32.360> the<00:20:32.420> future<00:20:32.540> your<00:20:33.470> tunnel<00:20:33.650> wallet 00:20:33.970 --> 00:20:33.980 align:start position:0% this in the future your tunnel wallet 00:20:33.980 --> 00:20:35.380 align:start position:0% this in the future your tunnel wallet pops<00:20:34.190> up<00:20:34.400> they<00:20:34.580> ask<00:20:34.730> you<00:20:34.850> to<00:20:35.030> approve<00:20:35.210> the 00:20:35.380 --> 00:20:35.390 align:start position:0% pops up they ask you to approve the 00:20:35.390 --> 00:20:38.470 align:start position:0% pops up they ask you to approve the budget<00:20:36.400> it<00:20:37.400> will<00:20:37.520> ask<00:20:37.670> you<00:20:37.850> to<00:20:38.000> prove<00:20:38.150> a<00:20:38.240> spend 00:20:38.470 --> 00:20:38.480 align:start position:0% budget it will ask you to prove a spend 00:20:38.480 --> 00:20:40.540 align:start position:0% budget it will ask you to prove a spend budget<00:20:38.780> of<00:20:38.870> 2<00:20:39.050> e<00:20:39.080> for<00:20:39.470> a<00:20:39.530> given<00:20:39.770> site<00:20:40.010> you 00:20:40.540 --> 00:20:40.550 align:start position:0% budget of 2 e for a given site you 00:20:40.550 --> 00:20:42.250 align:start position:0% budget of 2 e for a given site you proved<00:20:40.910> that<00:20:41.000> and<00:20:41.300> then<00:20:41.540> your<00:20:41.720> tunnel<00:20:41.930> wallet 00:20:42.250 --> 00:20:42.260 align:start position:0% proved that and then your tunnel wallet 00:20:42.260 --> 00:20:43.900 align:start position:0% proved that and then your tunnel wallet helps<00:20:42.530> it<00:20:42.920> takes<00:20:43.130> care<00:20:43.280> everything<00:20:43.310> else<00:20:43.700> it 00:20:43.900 --> 00:20:43.910 align:start position:0% helps it takes care everything else it 00:20:43.910 --> 00:20:45.700 align:start position:0% helps it takes care everything else it opens<00:20:44.240> it<00:20:44.360> closes<00:20:44.690> virtual<00:20:44.990> channels<00:20:45.320> it 00:20:45.700 --> 00:20:45.710 align:start position:0% opens it closes virtual channels it 00:20:45.710 --> 00:20:47.140 align:start position:0% opens it closes virtual channels it opens<00:20:46.070> channels<00:20:46.430> when<00:20:46.550> it<00:20:46.640> needs<00:20:46.820> to<00:20:47.030> it 00:20:47.140 --> 00:20:47.150 align:start position:0% opens channels when it needs to it 00:20:47.150 --> 00:20:49.480 align:start position:0% opens channels when it needs to it closes<00:20:47.480> them<00:20:47.720> the<00:20:48.110> only<00:20:48.290> constraint<00:20:48.890> is<00:20:49.310> it 00:20:49.480 --> 00:20:49.490 align:start position:0% closes them the only constraint is it 00:20:49.490 --> 00:20:51.970 align:start position:0% closes them the only constraint is it doesn't<00:20:49.730> go<00:20:49.850> above<00:20:50.030> that<00:20:50.090> to<00:20:50.420> eath<00:20:50.570> limit<00:20:50.980> so 00:20:51.970 --> 00:20:51.980 align:start position:0% doesn't go above that to eath limit so 00:20:51.980 --> 00:20:53.350 align:start position:0% doesn't go above that to eath limit so yeah<00:20:52.130> if<00:20:52.370> these<00:20:52.490> things<00:20:52.640> are<00:20:52.820> interesting<00:20:53.210> to 00:20:53.350 --> 00:20:53.360 align:start position:0% yeah if these things are interesting to 00:20:53.360 --> 00:20:56.470 align:start position:0% yeah if these things are interesting to you<00:20:53.540> or<00:20:54.380> if<00:20:54.470> you've<00:20:54.590> got<00:20:54.620> a<00:20:54.710> use<00:20:54.920> case<00:20:55.130> and<00:20:55.520> I 00:20:56.470 --> 00:20:56.480 align:start position:0% you or if you've got a use case and I 00:20:56.480 --> 00:20:58.000 align:start position:0% you or if you've got a use case and I want<00:20:57.050> to<00:20:57.110> have<00:20:57.200> input<00:20:57.380> into<00:20:57.680> how<00:20:57.890> we're 00:20:58.000 --> 00:20:58.010 align:start position:0% want to have input into how we're 00:20:58.010 --> 00:20:59.260 align:start position:0% want to have input into how we're thinking<00:20:58.040> about<00:20:58.340> this<00:20:58.460> stuff<00:20:58.700> please<00:20:59.060> come 00:20:59.260 --> 00:20:59.270 align:start position:0% thinking about this stuff please come 00:20:59.270 --> 00:21:01.030 align:start position:0% thinking about this stuff please come and<00:20:59.360> talk<00:20:59.480> to<00:20:59.630> us<00:20:59.750> or<00:20:59.960> go<00:21:00.650> to<00:21:00.710> the<00:21:00.860> state 00:21:01.030 --> 00:21:01.040 align:start position:0% and talk to us or go to the state 00:21:01.040 --> 00:21:02.860 align:start position:0% and talk to us or go to the state channels<00:21:01.370> Research<00:21:01.670> Forum<00:21:01.970> these<00:21:02.690> are<00:21:02.810> the 00:21:02.860 --> 00:21:02.870 align:start position:0% channels Research Forum these are the 00:21:02.870 --> 00:21:04.060 align:start position:0% channels Research Forum these are the sort<00:21:03.020> of<00:21:03.050> conversations<00:21:03.560> we<00:21:03.680> want<00:21:03.830> to<00:21:03.890> have 00:21:04.060 --> 00:21:04.070 align:start position:0% sort of conversations we want to have 00:21:04.070 --> 00:21:07.120 align:start position:0% sort of conversations we want to have with<00:21:04.220> everybody<00:21:04.430> in<00:21:04.610> the<00:21:04.670> community<00:21:05.980> so<00:21:06.980> yeah 00:21:07.120 --> 00:21:07.130 align:start position:0% with everybody in the community so yeah 00:21:07.130 --> 00:21:10.180 align:start position:0% with everybody in the community so yeah that's<00:21:07.970> it<00:21:08.120> from<00:21:08.570> me<00:21:08.960> and<00:21:09.230> from<00:21:09.260> Jim<00:21:09.590> who<00:21:09.980> is<00:21:10.070> no 00:21:10.180 --> 00:21:10.190 align:start position:0% that's it from me and from Jim who is no 00:21:10.190 --> 00:21:13.180 align:start position:0% that's it from me and from Jim who is no disappeared<00:21:10.960> stay<00:21:11.960> tuned<00:21:12.230> so<00:21:12.680> this<00:21:13.100> is 00:21:13.180 --> 00:21:13.190 align:start position:0% disappeared stay tuned so this is 00:21:13.190 --> 00:21:15.940 align:start position:0% disappeared stay tuned so this is ongoing<00:21:13.340> work<00:21:13.700> and<00:21:14.170> follow<00:21:15.170> state<00:21:15.560> channels 00:21:15.940 --> 00:21:15.950 align:start position:0% ongoing work and follow state channels 00:21:15.950 --> 00:21:19.340 align:start position:0% ongoing work and follow state channels on<00:21:16.250> Twitter<00:21:16.570> and<00:21:17.570> thanks<00:21:18.320> for<00:21:18.380> listening 00:21:19.340 --> 00:21:19.350 align:start position:0% on Twitter and thanks for listening 00:21:19.350 --> 00:21:30.440 align:start position:0% on Twitter and thanks for listening [Applause] 00:21:30.440 --> 00:21:30.450 align:start position:0% 00:21:30.450 --> 00:21:32.510 align:start position:0% you