WEBVTT Kind: captions Language: en 00:00:00.210 --> 00:00:17.760 align:start position:0% [Music] 00:00:17.760 --> 00:00:17.770 align:start position:0% [Music] 00:00:17.770 --> 00:00:20.050 align:start position:0% [Music] well<00:00:18.770> while<00:00:19.010> we're<00:00:19.250> waiting<00:00:19.280> for<00:00:19.550> the<00:00:19.790> slides 00:00:20.050 --> 00:00:20.060 align:start position:0% well while we're waiting for the slides 00:00:20.060 --> 00:00:22.769 align:start position:0% well while we're waiting for the slides to<00:00:20.240> load<00:00:20.830> we're<00:00:21.830> going<00:00:22.070> to<00:00:22.160> be<00:00:22.250> talking<00:00:22.490> about 00:00:22.769 --> 00:00:22.779 align:start position:0% to load we're going to be talking about 00:00:22.779 --> 00:00:26.080 align:start position:0% to load we're going to be talking about swarm<00:00:23.779> which<00:00:24.380> many<00:00:25.040> of<00:00:25.189> you<00:00:25.279> probably<00:00:25.550> know<00:00:25.760> is 00:00:26.080 --> 00:00:26.090 align:start position:0% swarm which many of you probably know is 00:00:26.090 --> 00:00:28.480 align:start position:0% swarm which many of you probably know is just<00:00:26.240> vaguely<00:00:26.600> is<00:00:26.900> just<00:00:27.140> sort<00:00:27.320> of<00:00:27.380> the<00:00:27.619> content 00:00:28.480 --> 00:00:28.490 align:start position:0% just vaguely is just sort of the content 00:00:28.490 --> 00:00:32.140 align:start position:0% just vaguely is just sort of the content storage<00:00:28.880> part<00:00:29.480> of<00:00:29.720> the<00:00:30.050> holy<00:00:31.040> theorem<00:00:31.700> Trinity 00:00:32.140 --> 00:00:32.150 align:start position:0% storage part of the holy theorem Trinity 00:00:32.150 --> 00:00:32.819 align:start position:0% storage part of the holy theorem Trinity of 00:00:32.819 --> 00:00:32.829 align:start position:0% of 00:00:32.829 --> 00:00:36.300 align:start position:0% of the<00:00:33.829> blockchain<00:00:34.070> and<00:00:34.610> whisper<00:00:35.030> and<00:00:35.180> swarm 00:00:36.300 --> 00:00:36.310 align:start position:0% the blockchain and whisper and swarm 00:00:36.310 --> 00:00:38.650 align:start position:0% the blockchain and whisper and swarm swarm<00:00:37.310> is<00:00:37.550> actually<00:00:37.880> going<00:00:38.120> to<00:00:38.210> be<00:00:38.270> a<00:00:38.300> lot<00:00:38.450> more 00:00:38.650 --> 00:00:38.660 align:start position:0% swarm is actually going to be a lot more 00:00:38.660 --> 00:00:40.900 align:start position:0% swarm is actually going to be a lot more than<00:00:38.870> that<00:00:38.960> we<00:00:39.260> can<00:00:39.440> do<00:00:39.950> directed<00:00:40.579> message 00:00:40.900 --> 00:00:40.910 align:start position:0% than that we can do directed message 00:00:40.910 --> 00:00:42.520 align:start position:0% than that we can do directed message routing<00:00:41.239> we<00:00:41.300> can<00:00:41.450> use<00:00:41.570> it<00:00:41.690> for<00:00:41.840> communication 00:00:42.520 --> 00:00:42.530 align:start position:0% routing we can use it for communication 00:00:42.530 --> 00:00:45.510 align:start position:0% routing we can use it for communication and<00:00:42.940> content<00:00:43.940> publication<00:00:44.480> content<00:00:44.899> delivery 00:00:45.510 --> 00:00:45.520 align:start position:0% and content publication content delivery 00:00:45.520 --> 00:00:48.310 align:start position:0% and content publication content delivery and<00:00:46.630> today<00:00:47.630> we're<00:00:47.810> going<00:00:47.900> to<00:00:48.020> be<00:00:48.080> talking 00:00:48.310 --> 00:00:48.320 align:start position:0% and today we're going to be talking 00:00:48.320 --> 00:00:50.640 align:start position:0% and today we're going to be talking about<00:00:48.380> the 00:00:50.640 --> 00:00:50.650 align:start position:0% about the 00:00:50.650 --> 00:00:53.620 align:start position:0% about the there<00:00:51.650> we<00:00:51.710> go<00:00:52.090> we're<00:00:53.090> going<00:00:53.210> to<00:00:53.330> be<00:00:53.390> talking 00:00:53.620 --> 00:00:53.630 align:start position:0% there we go we're going to be talking 00:00:53.630 --> 00:00:55.570 align:start position:0% there we go we're going to be talking about<00:00:53.690> the<00:00:53.900> incentive<00:00:54.350> structure<00:00:54.830> built<00:00:55.310> into 00:00:55.570 --> 00:00:55.580 align:start position:0% about the incentive structure built into 00:00:55.580 --> 00:00:58.150 align:start position:0% about the incentive structure built into swarm<00:00:55.820> to<00:00:56.000> make<00:00:56.150> it<00:00:56.300> a<00:00:56.420> good<00:00:56.600> content<00:00:57.200> delivery 00:00:58.150 --> 00:00:58.160 align:start position:0% swarm to make it a good content delivery 00:00:58.160 --> 00:01:03.299 align:start position:0% swarm to make it a good content delivery network<00:00:58.520> and<00:00:58.700> content<00:00:59.060> storage<00:00:59.360> network 00:01:03.299 --> 00:01:03.309 align:start position:0% 00:01:03.309 --> 00:01:06.570 align:start position:0% yeah<00:01:04.309> that's<00:01:04.820> the<00:01:05.059> Holy<00:01:05.509> Trinity 00:01:06.570 --> 00:01:06.580 align:start position:0% yeah that's the Holy Trinity 00:01:06.580 --> 00:01:09.340 align:start position:0% yeah that's the Holy Trinity all<00:01:07.580> right<00:01:07.850> so<00:01:08.060> content<00:01:08.540> delivery<00:01:08.930> I'll<00:01:09.170> be 00:01:09.340 --> 00:01:09.350 align:start position:0% all right so content delivery I'll be 00:01:09.350 --> 00:01:10.630 align:start position:0% all right so content delivery I'll be talking<00:01:09.530> about<00:01:09.680> Victor<00:01:10.189> we'll<00:01:10.340> talk<00:01:10.520> about 00:01:10.630 --> 00:01:10.640 align:start position:0% talking about Victor we'll talk about 00:01:10.640 --> 00:01:12.340 align:start position:0% talking about Victor we'll talk about content<00:01:11.060> storage<00:01:11.330> because<00:01:12.080> they<00:01:12.200> have 00:01:12.340 --> 00:01:12.350 align:start position:0% content storage because they have 00:01:12.350 --> 00:01:14.069 align:start position:0% content storage because they have different<00:01:12.710> use<00:01:12.860> cases<00:01:13.100> there's<00:01:13.400> different 00:01:14.069 --> 00:01:14.079 align:start position:0% different use cases there's different 00:01:14.079 --> 00:01:16.240 align:start position:0% different use cases there's different different<00:01:15.079> incentive<00:01:15.439> structure<00:01:15.829> built<00:01:16.009> into 00:01:16.240 --> 00:01:16.250 align:start position:0% different incentive structure built into 00:01:16.250 --> 00:01:19.149 align:start position:0% different incentive structure built into it<00:01:16.369> so<00:01:16.810> first<00:01:17.810> of<00:01:17.960> all<00:01:18.020> let's<00:01:18.830> say<00:01:18.980> you're 00:01:19.149 --> 00:01:19.159 align:start position:0% it so first of all let's say you're 00:01:19.159 --> 00:01:20.530 align:start position:0% it so first of all let's say you're using<00:01:19.340> swarm<00:01:19.820> and<00:01:19.970> you're<00:01:20.120> just<00:01:20.240> trying<00:01:20.480> to 00:01:20.530 --> 00:01:20.540 align:start position:0% using swarm and you're just trying to 00:01:20.540 --> 00:01:22.990 align:start position:0% using swarm and you're just trying to get<00:01:20.990> data<00:01:21.230> out<00:01:21.500> which<00:01:21.860> is<00:01:22.070> what<00:01:22.250> anyone<00:01:22.670> using 00:01:22.990 --> 00:01:23.000 align:start position:0% get data out which is what anyone using 00:01:23.000 --> 00:01:25.000 align:start position:0% get data out which is what anyone using adapt<00:01:23.270> would<00:01:23.540> do<00:01:23.720> if<00:01:24.020> the<00:01:24.320> dab<00:01:24.470> stores<00:01:24.800> its 00:01:25.000 --> 00:01:25.010 align:start position:0% adapt would do if the dab stores its 00:01:25.010 --> 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piece<00:01:39.350> of<00:01:39.470> data<00:01:39.620> you<00:01:39.890> would<00:01:40.100> get 00:01:40.360 --> 00:01:40.370 align:start position:0% get some piece of data you would get 00:01:40.370 --> 00:01:43.060 align:start position:0% get some piece of data you would get that<00:01:40.520> data's<00:01:41.030> address<00:01:41.570> and<00:01:41.810> that<00:01:42.560> location 00:01:43.060 --> 00:01:43.070 align:start position:0% that data's address and that location 00:01:43.070 --> 00:01:44.920 align:start position:0% that data's address and that location that's<00:01:43.790> where<00:01:44.060> you're<00:01:44.180> gonna<00:01:44.330> look<00:01:44.570> for<00:01:44.810> the 00:01:44.920 --> 00:01:44.930 align:start position:0% that's where you're gonna look for the 00:01:44.930 --> 00:01:47.020 align:start position:0% that's where you're gonna look for the data<00:01:45.110> now<00:01:45.979> what<00:01:46.130> does<00:01:46.250> that<00:01:46.280> mean<00:01:46.430> everything 00:01:47.020 --> 00:01:47.030 align:start position:0% data now what does that mean everything 00:01:47.030 --> 00:01:48.700 align:start position:0% data now what does that mean everything is<00:01:47.120> peer-to-peer<00:01:47.450> so<00:01:47.990> everything<00:01:48.440> is<00:01:48.530> stored 00:01:48.700 --> 00:01:48.710 align:start position:0% is peer-to-peer so everything is stored 00:01:48.710 --> 00:01:51.280 align:start position:0% is peer-to-peer so everything is stored when<00:01:48.950> up<00:01:49.040> here<00:01:49.310> so<00:01:49.700> what<00:01:50.510> it<00:01:50.600> means<00:01:50.810> we<00:01:51.020> look<00:01:51.140> at 00:01:51.280 --> 00:01:51.290 align:start position:0% when up here so what it means we look at 00:01:51.290 --> 00:01:53.140 align:start position:0% when up here so what it means we look at the<00:01:51.409> node<00:01:51.590> that<00:01:51.890> is<00:01:52.070> closest<00:01:52.610> to<00:01:52.820> that<00:01:52.850> address 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align:start position:0% that's or we're going to have to retrieve<00:01:57.799> it<00:01:57.950> and<00:01:58.070> the<00:01:58.130> retrieval<00:01:58.460> process<00:01:59.000> is 00:01:59.340 --> 00:01:59.350 align:start position:0% retrieve it and the retrieval process is 00:01:59.350 --> 00:02:02.350 align:start position:0% retrieve it and the retrieval process is what<00:02:00.350> gets<00:02:00.650> the<00:02:00.860> data<00:02:01.010> to<00:02:01.250> you<00:02:01.369> and<00:02:01.729> instead<00:02:02.180> of 00:02:02.350 --> 00:02:02.360 align:start position:0% what gets the data to you and instead of 00:02:02.360 --> 00:02:04.180 align:start position:0% what gets the data to you and instead of talking<00:02:02.720> to<00:02:02.900> that<00:02:03.110> node<00:02:03.350> you're<00:02:03.979> going<00:02:04.100> to 00:02:04.180 --> 00:02:04.190 align:start position:0% talking to that node you're going to 00:02:04.190 --> 00:02:05.500 align:start position:0% talking to that node you're going to just<00:02:04.369> be<00:02:04.490> talking<00:02:04.729> to<00:02:04.970> the<00:02:05.090> peers<00:02:05.330> you're 00:02:05.500 --> 00:02:05.510 align:start position:0% just be talking to the peers you're 00:02:05.510 --> 00:02:07.510 align:start position:0% just be talking to the peers you're already<00:02:05.720> connected<00:02:06.200> to<00:02:06.260> so<00:02:07.010> this<00:02:07.159> is<00:02:07.280> how<00:02:07.400> it 00:02:07.510 --> 00:02:07.520 align:start position:0% already connected to so this is how it 00:02:07.520 --> 00:02:09.850 align:start position:0% already connected to so this is how it will<00:02:07.580> work<00:02:07.640> this<00:02:08.420> is<00:02:08.569> the<00:02:08.659> retriever<00:02:08.989> here's 00:02:09.850 --> 00:02:09.860 align:start position:0% will work this is the retriever here's 00:02:09.860 --> 00:02:11.530 align:start position:0% will work this is the retriever here's the<00:02:10.009> data<00:02:10.190> address<00:02:10.399> and<00:02:10.849> this<00:02:10.909> is<00:02:11.060> the<00:02:11.150> closest 00:02:11.530 --> 00:02:11.540 align:start position:0% the data address and this is the closest 00:02:11.540 --> 00:02:13.360 align:start position:0% the data address and this is the closest node<00:02:11.720> and<00:02:11.989> that<00:02:12.019> orange<00:02:12.409> chunk<00:02:13.010> down<00:02:13.159> there 00:02:13.360 --> 00:02:13.370 align:start position:0% node and that orange chunk down there 00:02:13.370 --> 00:02:15.670 align:start position:0% node and that orange chunk down there that's<00:02:13.549> the<00:02:13.760> data<00:02:13.939> we're<00:02:14.120> interested<00:02:14.510> in<00:02:14.680> the 00:02:15.670 --> 00:02:15.680 align:start position:0% that's the data we're interested in the 00:02:15.680 --> 00:02:17.740 align:start position:0% that's the data we're interested in the way<00:02:15.799> that<00:02:15.830> the<00:02:16.250> routing<00:02:16.580> works<00:02:16.700> in<00:02:17.000> swarm<00:02:17.269> we 00:02:17.740 --> 00:02:17.750 align:start position:0% way that the routing works in swarm we 00:02:17.750 --> 00:02:19.360 align:start position:0% way that the routing works in swarm we have<00:02:17.930> a<00:02:17.959> bunch<00:02:18.260> of<00:02:18.349> peers<00:02:18.620> we're<00:02:18.799> connected<00:02:19.220> to 00:02:19.360 --> 00:02:19.370 align:start position:0% have a bunch of peers we're connected to 00:02:19.370 --> 00:02:21.309 align:start position:0% have a bunch of peers we're connected to there<00:02:19.549> will<00:02:19.670> always<00:02:19.939> be<00:02:20.209> one<00:02:20.629> that<00:02:20.900> is<00:02:21.019> closer 00:02:21.309 --> 00:02:21.319 align:start position:0% there will always be one that is closer 00:02:21.319 --> 00:02:23.290 align:start position:0% there will always be one that is closer to<00:02:21.650> the<00:02:21.739> data<00:02:21.890> than<00:02:22.220> you<00:02:22.250> are<00:02:22.489> you're<00:02:23.060> going<00:02:23.209> to 00:02:23.290 --> 00:02:23.300 align:start position:0% to the data than you are you're going to 00:02:23.300 --> 00:02:25.270 align:start position:0% to the data than you are you're going to send<00:02:23.480> it<00:02:23.599> a<00:02:23.690> request<00:02:24.050> it's<00:02:24.590> going<00:02:24.860> to<00:02:24.950> forward 00:02:25.270 --> 00:02:25.280 align:start position:0% send it a request it's going to forward 00:02:25.280 --> 00:02:27.130 align:start position:0% send it a request it's going to forward the<00:02:25.370> request<00:02:25.490> to<00:02:25.849> nodes<00:02:26.240> that<00:02:26.390> are<00:02:26.450> closer<00:02:26.780> and 00:02:27.130 --> 00:02:27.140 align:start position:0% the request to nodes that are closer and 00:02:27.140 --> 00:02:28.929 align:start position:0% the request to nodes that are closer and it'll<00:02:27.410> continue<00:02:27.620> on<00:02:28.069> this<00:02:28.189> way<00:02:28.370> until<00:02:28.609> the 00:02:28.929 --> 00:02:28.939 align:start position:0% it'll continue on this way until the 00:02:28.939 --> 00:02:31.089 align:start position:0% it'll continue on this way until the request<00:02:29.239> hits<00:02:29.510> the<00:02:29.659> closest<00:02:30.049> node<00:02:30.230> and<00:02:30.499> the 00:02:31.089 --> 00:02:31.099 align:start position:0% request hits the closest node and the 00:02:31.099 --> 00:02:33.099 align:start position:0% request hits the closest node and the data<00:02:31.280> is<00:02:31.489> passed<00:02:31.670> back<00:02:31.999> note<00:02:32.359> to<00:02:32.569> note<00:02:32.599> until 00:02:33.099 --> 00:02:33.109 align:start position:0% data is passed back note to note until 00:02:33.109 --> 00:02:35.550 align:start position:0% data is passed back note to note until the<00:02:33.379> retriever<00:02:33.709> has<00:02:34.579> the<00:02:34.879> data 00:02:35.550 --> 00:02:35.560 align:start position:0% the retriever has the data 00:02:35.560 --> 00:02:37.619 align:start position:0% the retriever has the data so<00:02:36.560> that's 00:02:37.619 --> 00:02:37.629 align:start position:0% so that's 00:02:37.629 --> 00:02:40.750 align:start position:0% so that's that's<00:02:38.629> the<00:02:38.900> method<00:02:39.079> for<00:02:39.409> delivering<00:02:40.099> data<00:02:40.489> so 00:02:40.750 --> 00:02:40.760 align:start position:0% that's the method for delivering data so 00:02:40.760 --> 00:02:42.369 align:start position:0% that's the method for delivering data so how<00:02:40.909> do<00:02:40.969> we<00:02:41.180> account<00:02:41.599> for<00:02:41.749> it<00:02:41.959> how<00:02:42.079> do<00:02:42.139> we<00:02:42.230> do 00:02:42.369 --> 00:02:42.379 align:start position:0% how do we account for it how do we do 00:02:42.379 --> 00:02:44.530 align:start position:0% how do we account for it how do we do the<00:02:42.530> incentives<00:02:43.040> the<00:02:43.790> swarm<00:02:44.030> accounting 00:02:44.530 --> 00:02:44.540 align:start position:0% the incentives the swarm accounting 00:02:44.540 --> 00:02:47.619 align:start position:0% the incentives the swarm accounting protocol<00:02:45.049> is<00:02:45.730> the<00:02:46.730> protocol<00:02:47.090> that<00:02:47.120> accounts 00:02:47.619 --> 00:02:47.629 align:start position:0% protocol is the protocol that accounts 00:02:47.629 --> 00:02:49.420 align:start position:0% protocol is the protocol that accounts for<00:02:47.780> all<00:02:47.930> the<00:02:48.079> data<00:02:48.290> delivered<00:02:49.250> data 00:02:49.420 --> 00:02:49.430 align:start position:0% for all the data delivered data 00:02:49.430 --> 00:02:51.729 align:start position:0% for all the data delivered data requested<00:02:50.000> and<00:02:50.439> it's<00:02:51.439> a<00:02:51.530> peer-to-peer 00:02:51.729 --> 00:02:51.739 align:start position:0% requested and it's a peer-to-peer 00:02:51.739 --> 00:02:53.860 align:start position:0% requested and it's a peer-to-peer accounting<00:02:52.700> system<00:02:53.060> it<00:02:53.209> has<00:02:53.359> to<00:02:53.540> be<00:02:53.629> in<00:02:53.719> this 00:02:53.860 --> 00:02:53.870 align:start position:0% accounting system it has to be in this 00:02:53.870 --> 00:02:56.890 align:start position:0% accounting system it has to be in this context<00:02:54.379> so<00:02:54.590> if<00:02:55.489> your<00:02:56.150> node<00:02:56.419> and<00:02:56.689> you're 00:02:56.890 --> 00:02:56.900 align:start position:0% context so if your node and you're 00:02:56.900 --> 00:02:58.270 align:start position:0% context so if your node and you're connected<00:02:57.319> to<00:02:57.379> appear<00:02:57.620> all<00:02:57.799> you<00:02:57.950> can<00:02:58.069> really 00:02:58.270 --> 00:02:58.280 align:start position:0% connected to appear all you can really 00:02:58.280 --> 00:02:59.500 align:start position:0% connected to appear all you can really keep<00:02:58.400> track<00:02:58.609> of<00:02:58.760> is<00:02:58.849> how<00:02:58.969> much<00:02:59.120> data<00:02:59.299> you've 00:02:59.500 --> 00:02:59.510 align:start position:0% keep track of is how much data you've 00:02:59.510 --> 00:03:01.420 align:start position:0% keep track of is how much data you've given<00:02:59.810> the<00:02:59.900> node<00:03:00.079> and<00:03:00.349> how<00:03:00.859> much<00:03:01.040> data<00:03:01.219> you've 00:03:01.420 --> 00:03:01.430 align:start position:0% given the node and how much data you've 00:03:01.430 --> 00:03:02.589 align:start position:0% given the node and how much data you've requested<00:03:01.669> from<00:03:02.000> the<00:03:02.090> node<00:03:02.299> and<00:03:02.480> the 00:03:02.589 --> 00:03:02.599 align:start position:0% requested from the node and the 00:03:02.599 --> 00:03:05.170 align:start position:0% requested from the node and the difference<00:03:02.989> if<00:03:03.829> that<00:03:04.040> becomes<00:03:04.250> too<00:03:04.519> lopsided 00:03:05.170 --> 00:03:05.180 align:start position:0% difference if that becomes too lopsided 00:03:05.180 --> 00:03:07.569 align:start position:0% difference if that becomes too lopsided that<00:03:05.329> means<00:03:05.689> you<00:03:05.930> owe<00:03:05.959> the<00:03:06.439> other<00:03:07.129> node<00:03:07.370> some 00:03:07.569 --> 00:03:07.579 align:start position:0% that means you owe the other node some 00:03:07.579 --> 00:03:10.890 align:start position:0% that means you owe the other node some payment<00:03:07.939> or<00:03:08.030> the<00:03:08.060> other<00:03:08.269> node<00:03:09.230> owes<00:03:09.500> you 00:03:10.890 --> 00:03:10.900 align:start position:0% payment or the other node owes you 00:03:10.900 --> 00:03:13.360 align:start position:0% payment or the other node owes you we<00:03:11.900> cannot<00:03:12.230> pay<00:03:12.439> for<00:03:12.650> every<00:03:12.829> chunk<00:03:13.010> of<00:03:13.189> data 00:03:13.360 --> 00:03:13.370 align:start position:0% we cannot pay for every chunk of data 00:03:13.370 --> 00:03:15.030 align:start position:0% we cannot pay for every chunk of data that's<00:03:13.939> just 00:03:15.030 --> 00:03:15.040 align:start position:0% that's just 00:03:15.040 --> 00:03:17.140 align:start position:0% that's just too<00:03:16.040> many<00:03:16.189> transactions<00:03:16.760> too<00:03:17.030> much 00:03:17.140 --> 00:03:17.150 align:start position:0% too many transactions too much 00:03:17.150 --> 00:03:19.360 align:start position:0% too many transactions too much blockchain<00:03:17.599> bloat<00:03:17.810> we<00:03:18.290> can't<00:03:18.500> even<00:03:18.650> pay<00:03:19.129> in 00:03:19.360 --> 00:03:19.370 align:start position:0% blockchain bloat we can't even pay in 00:03:19.370 --> 00:03:21.280 align:start position:0% blockchain bloat we can't even pay in batches<00:03:19.909> so<00:03:20.060> we<00:03:20.239> really<00:03:20.569> really<00:03:20.900> need<00:03:21.079> to 00:03:21.280 --> 00:03:21.290 align:start position:0% batches so we really really need to 00:03:21.290 --> 00:03:23.050 align:start position:0% batches so we really really need to limit<00:03:21.500> the<00:03:21.769> number<00:03:22.010> of<00:03:22.040> transactions<00:03:22.669> for 00:03:23.050 --> 00:03:23.060 align:start position:0% limit the number of transactions for 00:03:23.060 --> 00:03:25.720 align:start position:0% limit the number of transactions for this<00:03:23.180> to<00:03:23.389> be<00:03:23.480> viable<00:03:24.040> and<00:03:25.040> what<00:03:25.549> we're<00:03:25.699> doing 00:03:25.720 --> 00:03:25.730 align:start position:0% this to be viable and what we're doing 00:03:25.730 --> 00:03:28.319 align:start position:0% this to be viable and what we're doing in<00:03:26.060> swap<00:03:26.359> me<00:03:26.689> is<00:03:26.750> a<00:03:26.810> checkbook<00:03:27.349> smart<00:03:27.799> contract 00:03:28.319 --> 00:03:28.329 align:start position:0% in swap me is a checkbook smart contract 00:03:28.329 --> 00:03:30.879 align:start position:0% in swap me is a checkbook smart contract checkbook<00:03:29.329> works<00:03:29.599> just<00:03:29.870> like<00:03:29.959> your<00:03:30.469> checkbook 00:03:30.879 --> 00:03:30.889 align:start position:0% checkbook works just like your checkbook 00:03:30.889 --> 00:03:33.099 align:start position:0% checkbook works just like your checkbook in<00:03:31.040> a<00:03:31.099> bank<00:03:31.310> you<00:03:31.639> write<00:03:31.849> checks<00:03:32.180> and<00:03:32.449> at<00:03:32.900> any 00:03:33.099 --> 00:03:33.109 align:start position:0% in a bank you write checks and at any 00:03:33.109 --> 00:03:35.080 align:start position:0% in a bank you write checks and at any time<00:03:33.229> your<00:03:33.919> counterparty<00:03:34.459> can<00:03:34.639> take<00:03:34.849> that 00:03:35.080 --> 00:03:35.090 align:start position:0% time your counterparty can take that 00:03:35.090 --> 00:03:37.050 align:start position:0% time your counterparty can take that check<00:03:35.509> and<00:03:35.540> cash<00:03:35.870> it 00:03:37.050 --> 00:03:37.060 align:start position:0% check and cash it 00:03:37.060 --> 00:03:39.399 align:start position:0% check and cash it of<00:03:38.060> course<00:03:38.329> if<00:03:38.449> you<00:03:38.540> cashed<00:03:38.780> every<00:03:39.079> single 00:03:39.399 --> 00:03:39.409 align:start position:0% of course if you cashed every single 00:03:39.409 --> 00:03:40.509 align:start position:0% of course if you cashed every single check<00:03:39.590> that<00:03:39.799> would<00:03:39.919> still<00:03:40.099> be<00:03:40.129> a<00:03:40.250> lot<00:03:40.310> of 00:03:40.509 --> 00:03:40.519 align:start position:0% check that would still be a lot of 00:03:40.519 --> 00:03:41.949 align:start position:0% check that would still be a lot of transactions<00:03:41.120> so<00:03:41.269> the<00:03:41.389> way<00:03:41.479> this<00:03:41.659> is<00:03:41.720> designed 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it's getting too much you want to 00:03:48.979 --> 00:03:50.499 align:start position:0% like it's getting too much you want to make<00:03:49.400> sure<00:03:49.430> this<00:03:49.849> transaction<00:03:50.209> will<00:03:50.419> go 00:03:50.499 --> 00:03:50.509 align:start position:0% make sure this transaction will go 00:03:50.509 --> 00:03:52.240 align:start position:0% make sure this transaction will go through<00:03:50.689> you<00:03:50.900> cash<00:03:51.290> it<00:03:51.470> in<00:03:51.560> on<00:03:51.709> the<00:03:51.799> blockchain 00:03:52.240 --> 00:03:52.250 align:start position:0% through you cash it in on the blockchain 00:03:52.250 --> 00:03:54.399 align:start position:0% through you cash it in on the blockchain but<00:03:53.000> you<00:03:53.120> only<00:03:53.239> ever<00:03:53.449> need<00:03:53.659> to<00:03:53.780> cache<00:03:53.959> the<00:03:54.199> last 00:03:54.399 --> 00:03:54.409 align:start position:0% but you only ever need to cache the last 00:03:54.409 --> 00:03:56.349 align:start position:0% but you only ever need to cache the last check<00:03:54.829> receive<00:03:55.220> their<00:03:55.489> cumulative<00:03:55.790> so<00:03:56.239> that 00:03:56.349 --> 00:03:56.359 align:start position:0% check receive their cumulative so that 00:03:56.359 --> 00:03:58.860 align:start position:0% check receive their cumulative so that is<00:03:56.509> a<00:03:56.540> way<00:03:56.720> to<00:03:56.780> really<00:03:57.169> reduce<00:03:57.409> the<00:03:57.799> number<00:03:58.069> of 00:03:58.860 --> 00:03:58.870 align:start position:0% is a way to really reduce the number of 00:03:58.870 --> 00:04:01.210 align:start position:0% is a way to really reduce the number of transactions<00:03:59.870> and<00:04:00.109> if<00:04:00.620> this<00:04:00.799> sounds<00:04:00.949> like<00:04:01.129> a 00:04:01.210 --> 00:04:01.220 align:start position:0% transactions and if this sounds like a 00:04:01.220 --> 00:04:03.330 align:start position:0% transactions and if this sounds like a payment<00:04:01.669> channel<00:04:01.939> it's<00:04:02.090> sort<00:04:02.329> of<00:04:02.419> is 00:04:03.330 --> 00:04:03.340 align:start position:0% payment channel it's sort of is 00:04:03.340 --> 00:04:05.830 align:start position:0% payment channel it's sort of is soon<00:04:04.340> we<00:04:04.519> will<00:04:04.699> have<00:04:04.759> payment<00:04:05.419> channels<00:04:05.689> we're 00:04:05.830 --> 00:04:05.840 align:start position:0% soon we will have payment channels we're 00:04:05.840 --> 00:04:07.349 align:start position:0% soon we will have payment channels we're working<00:04:06.079> with<00:04:06.199> the<00:04:06.290> rating<00:04:06.590> guys 00:04:07.349 --> 00:04:07.359 align:start position:0% working with the rating guys 00:04:07.359 --> 00:04:10.149 align:start position:0% working with the rating guys to<00:04:08.359> implement<00:04:08.720> payment<00:04:09.019> channels<00:04:09.319> I'll<00:04:09.919> just 00:04:10.149 --> 00:04:10.159 align:start position:0% to implement payment channels I'll just 00:04:10.159 --> 00:04:11.199 align:start position:0% to implement payment channels I'll just want<00:04:10.280> to<00:04:10.340> highlight<00:04:10.489> the<00:04:10.729> difference<00:04:10.759> both 00:04:11.199 --> 00:04:11.209 align:start position:0% want to highlight the difference both 00:04:11.209 --> 00:04:13.689 align:start position:0% want to highlight the difference both payment<00:04:11.689> channels<00:04:12.019> and<00:04:12.199> checkbook<00:04:13.189> move 00:04:13.689 --> 00:04:13.699 align:start position:0% payment channels and checkbook move 00:04:13.699 --> 00:04:16.990 align:start position:0% payment channels and checkbook move transactions<00:04:14.389> off<00:04:14.569> chain<00:04:15.250> the<00:04:16.250> checkbook<00:04:16.820> has 00:04:16.990 --> 00:04:17.000 align:start position:0% transactions off chain the checkbook has 00:04:17.000 --> 00:04:19.270 align:start position:0% transactions off chain the checkbook has a<00:04:17.030> very<00:04:17.269> low<00:04:17.449> barrier<00:04:17.659> to<00:04:18.049> entry<00:04:18.199> because<00:04:18.409> if<00:04:19.130> I 00:04:19.270 --> 00:04:19.280 align:start position:0% a very low barrier to entry because if I 00:04:19.280 --> 00:04:22.270 align:start position:0% a very low barrier to entry because if I have<00:04:19.430> a<00:04:19.459> checkbook<00:04:19.909> contract<00:04:20.859> deployed<00:04:21.859> I<00:04:22.099> can 00:04:22.270 --> 00:04:22.280 align:start position:0% have a checkbook contract deployed I can 00:04:22.280 --> 00:04:23.740 align:start position:0% have a checkbook contract deployed I can start<00:04:22.490> paying<00:04:22.759> every<00:04:23.090> one<00:04:23.270> of<00:04:23.300> you<00:04:23.539> and<00:04:23.690> you 00:04:23.740 --> 00:04:23.750 align:start position:0% start paying every one of you and you 00:04:23.750 --> 00:04:25.330 align:start position:0% start paying every one of you and you can<00:04:23.900> all<00:04:24.020> use<00:04:24.229> my<00:04:24.409> cheques<00:04:24.710> and<00:04:24.919> send<00:04:25.190> them<00:04:25.310> to 00:04:25.330 --> 00:04:25.340 align:start position:0% can all use my cheques and send them to 00:04:25.340 --> 00:04:28.450 align:start position:0% can all use my cheques and send them to the<00:04:25.520> checkbook<00:04:25.880> contract<00:04:26.300> in<00:04:27.080> order<00:04:27.229> to<00:04:27.460> cash 00:04:28.450 --> 00:04:28.460 align:start position:0% the checkbook contract in order to cash 00:04:28.460 --> 00:04:29.790 align:start position:0% the checkbook contract in order to cash in<00:04:28.639> the<00:04:28.789> cheque 00:04:29.790 --> 00:04:29.800 align:start position:0% in the cheque 00:04:29.800 --> 00:04:31.959 align:start position:0% in the cheque whereas<00:04:30.800> in<00:04:30.979> payment<00:04:31.340> channels<00:04:31.639> everyone 00:04:31.959 --> 00:04:31.969 align:start position:0% whereas in payment channels everyone 00:04:31.969 --> 00:04:34.600 align:start position:0% whereas in payment channels everyone would<00:04:32.120> have<00:04:32.240> to<00:04:32.419> have<00:04:32.599> joined<00:04:33.199> the<00:04:33.610> Pacini 00:04:34.600 --> 00:04:34.610 align:start position:0% would have to have joined the Pacini 00:04:34.610 --> 00:04:36.180 align:start position:0% would have to have joined the Pacini payment<00:04:35.000> channel<00:04:35.270> network 00:04:36.180 --> 00:04:36.190 align:start position:0% payment channel network 00:04:36.190 --> 00:04:38.769 align:start position:0% payment channel network the<00:04:37.190> downside<00:04:37.610> is<00:04:37.760> a<00:04:37.789> cheque<00:04:38.060> can<00:04:38.300> bounce<00:04:38.539> I 00:04:38.769 --> 00:04:38.779 align:start position:0% the downside is a cheque can bounce I 00:04:38.779 --> 00:04:40.420 align:start position:0% the downside is a cheque can bounce I can<00:04:38.960> write<00:04:39.139> millions<00:04:39.710> of<00:04:39.830> cheques<00:04:40.070> but<00:04:40.310> my 00:04:40.420 --> 00:04:40.430 align:start position:0% can write millions of cheques but my 00:04:40.430 --> 00:04:42.670 align:start position:0% can write millions of cheques but my checkbook<00:04:40.820> doesn't<00:04:41.090> have<00:04:41.430> required<00:04:41.970> balance 00:04:42.670 --> 00:04:42.680 align:start position:0% checkbook doesn't have required balance 00:04:42.680 --> 00:04:45.469 align:start position:0% checkbook doesn't have required balance so<00:04:43.680> that's<00:04:43.860> the<00:04:44.040> trade-off<00:04:44.460> but<00:04:44.850> we<00:04:45.030> find<00:04:45.300> it's 00:04:45.469 --> 00:04:45.479 align:start position:0% so that's the trade-off but we find it's 00:04:45.479 --> 00:04:47.180 align:start position:0% so that's the trade-off but we find it's a<00:04:45.630> it's<00:04:46.080> a<00:04:46.199> good<00:04:46.350> way<00:04:46.470> to<00:04:46.530> get<00:04:46.740> people<00:04:46.919> on<00:04:47.160> board 00:04:47.180 --> 00:04:47.190 align:start position:0% a it's a good way to get people on board 00:04:47.190 --> 00:04:48.950 align:start position:0% a it's a good way to get people on board to<00:04:47.430> get<00:04:47.729> things<00:04:47.940> started<00:04:48.120> but<00:04:48.600> as<00:04:48.750> I<00:04:48.810> said 00:04:48.950 --> 00:04:48.960 align:start position:0% to get things started but as I said 00:04:48.960 --> 00:04:51.279 align:start position:0% to get things started but as I said payment<00:04:49.440> channels<00:04:49.710> are<00:04:49.830> coming<00:04:50.160> too 00:04:51.279 --> 00:04:51.289 align:start position:0% payment channels are coming too 00:04:51.289 --> 00:04:54.740 align:start position:0% payment channels are coming too so<00:04:52.289> what<00:04:52.440> does<00:04:52.560> this<00:04:52.680> get<00:04:52.919> us<00:04:53.180> swarm<00:04:54.180> with<00:04:54.570> the 00:04:54.740 --> 00:04:54.750 align:start position:0% so what does this get us swarm with the 00:04:54.750 --> 00:04:57.290 align:start position:0% so what does this get us swarm with the swap<00:04:55.020> accounting<00:04:55.500> system<00:04:55.949> allows<00:04:56.910> us<00:04:57.150> to 00:04:57.290 --> 00:04:57.300 align:start position:0% swap accounting system allows us to 00:04:57.300 --> 00:04:59.480 align:start position:0% swap accounting system allows us to program<00:04:57.600> the<00:04:57.930> incentives<00:04:58.440> of<00:04:58.530> every<00:04:58.770> node<00:04:58.979> so 00:04:59.480 --> 00:04:59.490 align:start position:0% program the incentives of every node so 00:04:59.490 --> 00:05:01.189 align:start position:0% program the incentives of every node so we're<00:04:59.639> assuming<00:04:59.850> every<00:05:00.300> node<00:05:00.509> is<00:05:00.750> profit 00:05:01.189 --> 00:05:01.199 align:start position:0% we're assuming every node is profit 00:05:01.199 --> 00:05:04.460 align:start position:0% we're assuming every node is profit maximizing<00:05:01.740> rational<00:05:02.340> actor<00:05:03.030> and<00:05:03.259> one<00:05:04.259> of<00:05:04.350> the 00:05:04.460 --> 00:05:04.470 align:start position:0% maximizing rational actor and one of the 00:05:04.470 --> 00:05:06.650 align:start position:0% maximizing rational actor and one of the effects<00:05:05.130> of<00:05:05.340> the<00:05:05.490> way<00:05:05.610> we've<00:05:05.789> designed<00:05:06.000> so<00:05:06.419> far 00:05:06.650 --> 00:05:06.660 align:start position:0% effects of the way we've designed so far 00:05:06.660 --> 00:05:08.210 align:start position:0% effects of the way we've designed so far is<00:05:06.840> that<00:05:07.050> as<00:05:07.199> a<00:05:07.229> content<00:05:07.740> delivery<00:05:07.919> network 00:05:08.210 --> 00:05:08.220 align:start position:0% is that as a content delivery network 00:05:08.220 --> 00:05:10.939 align:start position:0% is that as a content delivery network the<00:05:09.120> swarm<00:05:09.419> will<00:05:09.600> be<00:05:09.690> automatically<00:05:10.410> scaling 00:05:10.939 --> 00:05:10.949 align:start position:0% the swarm will be automatically scaling 00:05:10.949 --> 00:05:13.070 align:start position:0% the swarm will be automatically scaling so<00:05:11.639> if<00:05:11.759> you<00:05:11.880> remember<00:05:12.060> in<00:05:12.419> our<00:05:12.720> retrieval 00:05:13.070 --> 00:05:13.080 align:start position:0% so if you remember in our retrieval 00:05:13.080 --> 00:05:14.659 align:start position:0% so if you remember in our retrieval there's<00:05:13.410> no<00:05:13.650> trying<00:05:13.979> to<00:05:14.039> retrieve<00:05:14.370> there's 00:05:14.659 --> 00:05:14.669 align:start position:0% there's no trying to retrieve there's 00:05:14.669 --> 00:05:16.219 align:start position:0% there's no trying to retrieve there's the<00:05:14.789> data<00:05:15.000> there<00:05:15.720> are<00:05:15.750> a<00:05:15.810> bunch<00:05:15.870> of<00:05:16.020> nodes 00:05:16.219 --> 00:05:16.229 align:start position:0% the data there are a bunch of nodes 00:05:16.229 --> 00:05:18.379 align:start position:0% the data there are a bunch of nodes involved<00:05:16.740> that<00:05:17.250> orange<00:05:17.610> chunk<00:05:17.910> was<00:05:18.210> being 00:05:18.379 --> 00:05:18.389 align:start position:0% involved that orange chunk was being 00:05:18.389 --> 00:05:20.270 align:start position:0% involved that orange chunk was being passed<00:05:18.660> along<00:05:18.870> as<00:05:19.320> a<00:05:19.650> response<00:05:20.100> to<00:05:20.190> the 00:05:20.270 --> 00:05:20.280 align:start position:0% passed along as a response to the 00:05:20.280 --> 00:05:23.210 align:start position:0% passed along as a response to the requests<00:05:21.199> the<00:05:22.199> nodes<00:05:22.380> in<00:05:22.620> the<00:05:22.710> middle<00:05:22.740> along 00:05:23.210 --> 00:05:23.220 align:start position:0% requests the nodes in the middle along 00:05:23.220 --> 00:05:25.100 align:start position:0% requests the nodes in the middle along the<00:05:23.280> sequence<00:05:23.850> they<00:05:24.449> didn't<00:05:24.750> really<00:05:24.840> make<00:05:25.050> a 00:05:25.100 --> 00:05:25.110 align:start position:0% the sequence they didn't really make a 00:05:25.110 --> 00:05:27.170 align:start position:0% the sequence they didn't really make a profit<00:05:25.560> they<00:05:25.680> had<00:05:25.860> in<00:05:26.070> the<00:05:26.310> swap<00:05:26.580> on<00:05:26.789> one<00:05:26.940> side 00:05:27.170 --> 00:05:27.180 align:start position:0% profit they had in the swap on one side 00:05:27.180 --> 00:05:28.430 align:start position:0% profit they had in the swap on one side they<00:05:27.330> had<00:05:27.449> to<00:05:27.570> pay<00:05:27.720> on<00:05:27.840> the<00:05:27.930> other<00:05:28.050> side<00:05:28.289> they 00:05:28.430 --> 00:05:28.440 align:start position:0% they had to pay on the other side they 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date I 00:05:33.479 --> 00:05:35.750 align:start position:0% paid and the one that wanted the date I had<00:05:33.750> to<00:05:33.900> pay<00:05:34.080> now<00:05:34.919> the<00:05:34.979> nodes<00:05:35.220> along<00:05:35.520> the<00:05:35.669> way 00:05:35.750 --> 00:05:35.760 align:start position:0% had to pay now the nodes along the way 00:05:35.760 --> 00:05:37.370 align:start position:0% had to pay now the nodes along the way they<00:05:35.940> can<00:05:36.120> cache<00:05:36.330> the<00:05:36.539> data<00:05:36.570> they<00:05:36.900> can<00:05:36.960> keep<00:05:37.229> it 00:05:37.370 --> 00:05:37.380 align:start position:0% they can cache the data they can keep it 00:05:37.380 --> 00:05:39.260 align:start position:0% they can cache the data they can keep it or<00:05:37.560> they<00:05:37.680> can<00:05:37.830> delete<00:05:38.099> it<00:05:38.130> it's<00:05:38.760> up<00:05:38.940> to<00:05:39.090> them 00:05:39.260 --> 00:05:39.270 align:start position:0% or they can delete it it's up to them 00:05:39.270 --> 00:05:40.790 align:start position:0% or they can delete it it's up to them but<00:05:39.780> they<00:05:39.930> have<00:05:40.020> an<00:05:40.110> interest<00:05:40.440> to<00:05:40.620> keep 00:05:40.790 --> 00:05:40.800 align:start position:0% but they have an interest to keep 00:05:40.800 --> 00:05:43.370 align:start position:0% but they have an interest to keep popular<00:05:41.280> stuff<00:05:41.550> because<00:05:42.120> if<00:05:42.479> another<00:05:43.139> node 00:05:43.370 --> 00:05:43.380 align:start position:0% popular stuff because if another node 00:05:43.380 --> 00:05:45.200 align:start position:0% popular stuff because if another node comes<00:05:43.650> along<00:05:43.979> and<00:05:44.099> wants<00:05:44.190> to<00:05:44.340> access<00:05:44.639> the<00:05:45.000> same 00:05:45.200 --> 00:05:45.210 align:start position:0% comes along and wants to access the same 00:05:45.210 --> 00:05:48.140 align:start position:0% comes along and wants to access the same data<00:05:45.449> and<00:05:45.810> then<00:05:46.710> a<00:05:46.889> retrieval<00:05:47.310> request<00:05:47.760> hits<00:05:48.000> a 00:05:48.140 --> 00:05:48.150 align:start position:0% data and then a retrieval request hits a 00:05:48.150 --> 00:05:50.180 align:start position:0% data and then a retrieval request hits a node<00:05:48.330> that<00:05:48.360> had<00:05:48.870> it<00:05:49.020> cached<00:05:49.260> that<00:05:49.650> node<00:05:49.919> can 00:05:50.180 --> 00:05:50.190 align:start position:0% node that had it cached that node can 00:05:50.190 --> 00:05:52.760 align:start position:0% node that had it cached that node can now<00:05:50.310> deliver<00:05:50.580> it<00:05:50.789> and<00:05:51.000> earn<00:05:51.180> the<00:05:51.360> profit<00:05:51.770> so 00:05:52.760 --> 00:05:52.770 align:start position:0% now deliver it and earn the profit so 00:05:52.770 --> 00:05:54.650 align:start position:0% now deliver it and earn the profit so popular<00:05:53.190> data<00:05:53.400> you're<00:05:53.669> likely<00:05:53.880> to<00:05:54.120> cash<00:05:54.360> in 00:05:54.650 --> 00:05:54.660 align:start position:0% popular data you're likely to cash in 00:05:54.660 --> 00:05:56.360 align:start position:0% popular data you're likely to cash in fact<00:05:54.870> you're<00:05:55.320> likely<00:05:55.470> to<00:05:55.590> fill<00:05:55.860> up<00:05:55.979> your<00:05:56.130> space 00:05:56.360 --> 00:05:56.370 align:start position:0% fact you're likely to fill up your space 00:05:56.370 --> 00:05:57.740 align:start position:0% fact you're likely to fill up your space with<00:05:56.580> anything<00:05:56.940> that<00:05:57.060> goes<00:05:57.180> through<00:05:57.419> you<00:05:57.570> on 00:05:57.740 --> 00:05:57.750 align:start position:0% with anything that goes through you on 00:05:57.750 --> 00:05:59.689 align:start position:0% with anything that goes through you on the<00:05:57.840> off<00:05:57.960> chance<00:05:57.990> that<00:05:58.349> you<00:05:58.470> can<00:05:58.680> sell<00:05:58.889> it<00:05:59.039> so 00:05:59.689 --> 00:05:59.699 align:start position:0% the off chance that you can sell it so 00:05:59.699 --> 00:06:01.610 align:start position:0% the off chance that you can sell it so that<00:05:59.970> way<00:06:00.210> you<00:06:00.270> maximize<00:06:00.780> your<00:06:00.900> profit<00:06:01.320> but 00:06:01.610 --> 00:06:01.620 align:start position:0% that way you maximize your profit but 00:06:01.620 --> 00:06:03.950 align:start position:0% that way you maximize your profit but the<00:06:01.830> on<00:06:02.159> the<00:06:02.729> flipside<00:06:03.210> if<00:06:03.479> you<00:06:03.630> look<00:06:03.780> at<00:06:03.870> the 00:06:03.950 --> 00:06:03.960 align:start position:0% the on the flipside if you look at the 00:06:03.960 --> 00:06:05.870 align:start position:0% the on the flipside if you look at the network<00:06:04.289> as<00:06:04.409> a<00:06:04.440> whole<00:06:04.530> it<00:06:04.949> means<00:06:05.159> that<00:06:05.370> popular 00:06:05.870 --> 00:06:05.880 align:start position:0% network as a whole it means that popular 00:06:05.880 --> 00:06:07.730 align:start position:0% network as a whole it means that popular content<00:06:06.300> will<00:06:06.479> automatically<00:06:07.260> be<00:06:07.380> widely 00:06:07.730 --> 00:06:07.740 align:start position:0% content will automatically be widely 00:06:07.740 --> 00:06:10.040 align:start position:0% content will automatically be widely distributed<00:06:08.340> and<00:06:08.539> latency<00:06:09.539> and<00:06:09.630> bandwidth 00:06:10.040 --> 00:06:10.050 align:start position:0% distributed and latency and bandwidth 00:06:10.050 --> 00:06:11.810 align:start position:0% distributed and latency and bandwidth latency<00:06:10.590> will<00:06:10.919> reduce<00:06:11.190> bandwidth<00:06:11.639> will 00:06:11.810 --> 00:06:11.820 align:start position:0% latency will reduce bandwidth will 00:06:11.820 --> 00:06:14.300 align:start position:0% latency will reduce bandwidth will increase<00:06:12.270> certainly<00:06:12.889> so<00:06:13.889> that's<00:06:14.039> what<00:06:14.190> I<00:06:14.220> mean 00:06:14.300 --> 00:06:14.310 align:start position:0% increase certainly so that's what I mean 00:06:14.310 --> 00:06:15.620 align:start position:0% increase certainly so that's what I mean by<00:06:14.370> auto<00:06:14.639> scaling<00:06:15.030> and<00:06:15.270> it's<00:06:15.360> one<00:06:15.449> of<00:06:15.479> those 00:06:15.620 --> 00:06:15.630 align:start position:0% by auto scaling and it's one of those 00:06:15.630 --> 00:06:17.210 align:start position:0% by auto scaling and it's one of those features<00:06:15.870> when<00:06:16.229> if<00:06:16.409> you<00:06:16.830> can<00:06:16.979> program 00:06:17.210 --> 00:06:17.220 align:start position:0% features when if you can program 00:06:17.220 --> 00:06:19.460 align:start position:0% features when if you can program everyone's<00:06:17.820> incentives<00:06:18.360> you<00:06:19.020> can<00:06:19.139> get<00:06:19.229> really 00:06:19.460 --> 00:06:19.470 align:start position:0% everyone's incentives you can get really 00:06:19.470 --> 00:06:20.899 align:start position:0% everyone's incentives you can get really nice<00:06:19.590> emergent<00:06:20.099> behavior<00:06:20.460> on<00:06:20.550> the<00:06:20.669> swarm 00:06:20.899 --> 00:06:20.909 align:start position:0% nice emergent behavior on the swarm 00:06:20.909 --> 00:06:21.909 align:start position:0% nice emergent behavior on the swarm overall 00:06:21.909 --> 00:06:21.919 align:start position:0% overall 00:06:21.919 --> 00:06:23.529 align:start position:0% overall and 00:06:23.529 --> 00:06:23.539 align:start position:0% and 00:06:23.539 --> 00:06:26.330 align:start position:0% and that<00:06:24.539> might<00:06:24.720> be<00:06:24.840> great<00:06:25.020> for<00:06:25.050> popular<00:06:25.919> content 00:06:26.330 --> 00:06:26.340 align:start position:0% that might be great for popular content 00:06:26.340 --> 00:06:28.279 align:start position:0% that might be great for popular content but<00:06:26.699> if<00:06:26.909> I've<00:06:27.090> unpopular<00:06:27.720> content<00:06:28.080> that<00:06:28.229> I 00:06:28.279 --> 00:06:28.289 align:start position:0% but if I've unpopular content that I 00:06:28.289 --> 00:06:31.060 align:start position:0% but if I've unpopular content that I need<00:06:28.440> stored<00:06:28.770> for<00:06:29.010> a<00:06:29.039> long<00:06:29.220> time 00:06:31.060 --> 00:06:31.070 align:start position:0% need stored for a long time 00:06:31.070 --> 00:06:32.990 align:start position:0% need stored for a long time we're<00:06:32.070> gonna<00:06:32.190> need<00:06:32.280> a<00:06:32.340> different<00:06:32.460> system<00:06:32.909> and 00:06:32.990 --> 00:06:33.000 align:start position:0% we're gonna need a different system and 00:06:33.000 --> 00:06:35.300 align:start position:0% we're gonna need a different system and I'll<00:06:33.150> hand<00:06:33.419> over<00:06:33.510> to<00:06:33.630> Victor<00:06:33.990> for<00:06:34.380> that<00:06:34.500> can 00:06:35.300 --> 00:06:35.310 align:start position:0% I'll hand over to Victor for that can 00:06:35.310 --> 00:06:37.960 align:start position:0% I'll hand over to Victor for that can you<00:06:35.400> hear<00:06:35.550> me<00:06:35.669> and<00:06:35.789> Mike 00:06:37.960 --> 00:06:37.970 align:start position:0% you hear me and Mike 00:06:37.970 --> 00:06:40.760 align:start position:0% you hear me and Mike ok<00:06:38.970> fantastic<00:06:39.120> so<00:06:39.840> if<00:06:39.990> you<00:06:40.080> don't<00:06:40.260> mind<00:06:40.440> I<00:06:40.530> stay 00:06:40.760 --> 00:06:40.770 align:start position:0% ok fantastic so if you don't mind I stay 00:06:40.770 --> 00:06:42.320 align:start position:0% ok fantastic so if you don't mind I stay seated<00:06:41.070> because<00:06:41.340> I'm<00:06:41.520> bit 00:06:42.320 --> 00:06:42.330 align:start position:0% seated because I'm bit 00:06:42.330 --> 00:06:44.659 align:start position:0% seated because I'm bit and<00:06:42.750> stable<00:06:43.259> on<00:06:43.379> my<00:06:43.530> my<00:06:43.919> feet<00:06:44.129> at<00:06:44.310> the<00:06:44.400> moment 00:06:44.659 --> 00:06:44.669 align:start position:0% and stable on my my feet at the moment 00:06:44.669 --> 00:06:48.770 align:start position:0% and stable on my my feet at the moment so<00:06:45.710> the<00:06:46.710> storage<00:06:46.949> inside<00:06:47.310> this<00:06:48.150> talk<00:06:48.419> has<00:06:48.599> two 00:06:48.770 --> 00:06:48.780 align:start position:0% so the storage inside this talk has two 00:06:48.780 --> 00:06:51.860 align:start position:0% so the storage inside this talk has two parts<00:06:49.169> and<00:06:49.349> two<00:06:49.500> authors<00:06:50.129> it's<00:06:50.460> quite<00:06:51.330> lovely 00:06:51.860 --> 00:06:51.870 align:start position:0% parts and two authors it's quite lovely 00:06:51.870 --> 00:06:54.430 align:start position:0% parts and two authors it's quite lovely so<00:06:52.830> storage 00:06:54.430 --> 00:06:54.440 align:start position:0% so storage 00:06:54.440 --> 00:06:57.080 align:start position:0% so storage incentives<00:06:55.440> are<00:06:55.620> pretty<00:06:55.979> different<00:06:56.639> animal 00:06:57.080 --> 00:06:57.090 align:start position:0% incentives are pretty different animal 00:06:57.090 --> 00:06:59.180 align:start position:0% incentives are pretty different animal from<00:06:57.330> from<00:06:57.750> the<00:06:57.930> bandwidth<00:06:58.289> incentives<00:06:58.830> it's 00:06:59.180 --> 00:06:59.190 align:start position:0% from from the bandwidth incentives it's 00:06:59.190 --> 00:07:00.920 align:start position:0% from from the bandwidth incentives it's because<00:06:59.490> they<00:06:59.639> are<00:06:59.729> not<00:06:59.849> immediately<00:07:00.569> SATA 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00:07:07.680 align:start position:0% it's something that you is basically a 00:07:07.680 --> 00:07:12.260 align:start position:0% it's something that you is basically a promise<00:07:08.030> so<00:07:09.500> wide<00:07:10.500> swap<00:07:10.860> guarantees<00:07:11.610> the 00:07:12.260 --> 00:07:12.270 align:start position:0% promise so wide swap guarantees the 00:07:12.270 --> 00:07:14.089 align:start position:0% promise so wide swap guarantees the emergent<00:07:12.900> behavior<00:07:13.229> like<00:07:13.500> half<00:07:13.919> the 00:07:14.089 --> 00:07:14.099 align:start position:0% emergent behavior like half the 00:07:14.099 --> 00:07:16.159 align:start position:0% emergent behavior like half the operation<00:07:14.669> of<00:07:14.759> the<00:07:14.940> swamp<00:07:15.210> which<00:07:15.599> means<00:07:15.840> low 00:07:16.159 --> 00:07:16.169 align:start position:0% operation of the swamp which means low 00:07:16.169 --> 00:07:18.559 align:start position:0% operation of the swamp which means low latency<00:07:16.710> retrieval<00:07:17.159> of<00:07:17.250> content<00:07:17.729> it<00:07:18.240> really 00:07:18.559 --> 00:07:18.569 align:start position:0% latency retrieval of content it really 00:07:18.569 --> 00:07:20.839 align:start position:0% latency retrieval of content it really only<00:07:19.139> works<00:07:19.379> for<00:07:19.650> popular<00:07:20.099> content<00:07:20.490> because 00:07:20.839 --> 00:07:20.849 align:start position:0% only works for popular content because 00:07:20.849 --> 00:07:23.270 align:start position:0% only works for popular content because although<00:07:21.539> the<00:07:22.110> swarm<00:07:22.379> has<00:07:22.590> maximum 00:07:23.270 --> 00:07:23.280 align:start position:0% although the swarm has maximum 00:07:23.280 --> 00:07:26.260 align:start position:0% although the swarm has maximum utilization<00:07:23.520> at<00:07:24.150> all<00:07:24.330> points<00:07:24.780> when 00:07:26.260 --> 00:07:26.270 align:start position:0% utilization at all points when 00:07:26.270 --> 00:07:29.390 align:start position:0% utilization at all points when an<00:07:27.270> unpopular<00:07:27.990> content<00:07:28.440> is<00:07:28.590> uploaded<00:07:28.860> and<00:07:29.370> you 00:07:29.390 --> 00:07:29.400 align:start position:0% an unpopular content is uploaded and you 00:07:29.400 --> 00:07:31.730 align:start position:0% an unpopular content is uploaded and you have<00:07:30.060> a<00:07:30.210> lot<00:07:30.449> more<00:07:30.479> popular<00:07:30.870> content<00:07:31.409> coming 00:07:31.730 --> 00:07:31.740 align:start position:0% have a lot more popular content coming 00:07:31.740 --> 00:07:33.950 align:start position:0% have a lot more popular content coming in<00:07:31.919> you'll<00:07:32.430> be<00:07:32.580> inclined<00:07:32.819> to<00:07:32.849> delete<00:07:33.599> the 00:07:33.950 --> 00:07:33.960 align:start position:0% in you'll be inclined to delete the 00:07:33.960 --> 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what<00:07:42.990> do<00:07:43.080> we<00:07:43.169> do<00:07:43.289> with<00:07:43.409> it<00:07:43.469> well<00:07:44.430> we 00:07:45.350 --> 00:07:45.360 align:start position:0% behave so what do we do with it well we 00:07:45.360 --> 00:07:46.999 align:start position:0% behave so what do we do with it well we have<00:07:45.479> to<00:07:45.629> somehow<00:07:45.810> make<00:07:46.080> sure<00:07:46.289> that<00:07:46.500> those 00:07:46.999 --> 00:07:47.009 align:start position:0% have to somehow make sure that those 00:07:47.009 --> 00:07:49.219 align:start position:0% have to somehow make sure that those content<00:07:47.550> that<00:07:47.880> I<00:07:48.060> really<00:07:48.479> want<00:07:48.630> to<00:07:48.719> keep<00:07:48.960> for<00:07:49.169> a 00:07:49.219 --> 00:07:49.229 align:start position:0% content that I really want to keep for a 00:07:49.229 --> 00:07:51.589 align:start position:0% content that I really want to keep for a longer<00:07:49.469> term<00:07:49.729> it's<00:07:50.729> not<00:07:50.909> not<00:07:51.240> going<00:07:51.389> to<00:07:51.449> get 00:07:51.589 --> 00:07:51.599 align:start position:0% longer term it's not not going to get 00:07:51.599 --> 00:07:55.580 align:start position:0% longer term it's not not going to get deleted<00:07:51.900> by<00:07:52.199> the<00:07:52.259> time<00:07:52.560> I<00:07:52.590> need<00:07:53.250> it<00:07:53.300> so<00:07:54.349> what<00:07:55.349> we 00:07:55.580 --> 00:07:55.590 align:start position:0% deleted by the time I need it so what we 00:07:55.590 --> 00:07:58.370 align:start position:0% deleted by the time I need it so what we do<00:07:55.710> where<00:07:56.039> we<00:07:56.099> pay<00:07:56.460> to<00:07:56.909> know<00:07:57.810> it's<00:07:57.990> like<00:07:58.199> to 00:07:58.370 --> 00:07:58.380 align:start position:0% do where we pay to know it's like to 00:07:58.380 --> 00:08:00.830 align:start position:0% do where we pay to know it's like to store<00:07:58.650> us<00:07:58.830> to<00:07:59.190> store<00:08:00.060> my<00:08:00.240> content<00:08:00.659> like 00:08:00.830 --> 00:08:00.840 align:start position:0% store us to store my content like 00:08:00.840 --> 00:08:03.050 align:start position:0% store us to store my content like basically<00:08:01.319> by<00:08:01.409> that<00:08:01.650> promise<00:08:01.830> well<00:08:02.250> it's<00:08:02.460> it 00:08:03.050 --> 00:08:03.060 align:start position:0% basically by that promise well it's it 00:08:03.060 --> 00:08:05.809 align:start position:0% basically by that promise well it's it sounds<00:08:03.330> like<00:08:03.599> okay<00:08:03.930> so<00:08:04.620> if<00:08:05.099> you<00:08:05.310> want<00:08:05.490> your 00:08:05.809 --> 00:08:05.819 align:start position:0% sounds like okay so if you want your 00:08:05.819 --> 00:08:07.700 align:start position:0% sounds like okay so if you want your baby<00:08:06.090> to<00:08:06.270> be<00:08:06.509> taken<00:08:06.840> care<00:08:07.050> of<00:08:07.080> like<00:08:07.469> you<00:08:07.590> pay 00:08:07.700 --> 00:08:07.710 align:start position:0% baby to be taken care of like you pay 00:08:07.710 --> 00:08:11.260 align:start position:0% baby to be taken care of like you pay the<00:08:07.860> babysitter<00:08:08.520> that's<00:08:08.819> that's<00:08:09.330> not<00:08:09.509> a<00:08:10.080> very 00:08:11.260 --> 00:08:11.270 align:start position:0% the babysitter that's that's not a very 00:08:11.270 --> 00:08:14.029 align:start position:0% the babysitter that's that's not a very big<00:08:12.270> invention<00:08:12.810> but<00:08:12.990> the<00:08:13.560> problem<00:08:13.889> is<00:08:14.009> that 00:08:14.029 --> 00:08:14.039 align:start position:0% big invention but the problem is that 00:08:14.039 --> 00:08:15.769 align:start position:0% big invention but the problem is that first<00:08:14.699> of<00:08:14.849> all<00:08:14.940> you<00:08:15.000> don't<00:08:15.240> know<00:08:15.389> who<00:08:15.599> the 00:08:15.769 --> 00:08:15.779 align:start position:0% first of all you don't know who the 00:08:15.779 --> 00:08:18.080 align:start position:0% first of all you don't know who the babysitter<00:08:16.259> will<00:08:16.560> be<00:08:16.710> and<00:08:16.919> second<00:08:17.490> of<00:08:17.550> all<00:08:17.729> you 00:08:18.080 --> 00:08:18.090 align:start position:0% babysitter will be and second of all you 00:08:18.090 --> 00:08:20.959 align:start position:0% babysitter will be and second of all you might<00:08:18.270> not<00:08:18.479> you<00:08:19.440> might<00:08:19.500> not<00:08:19.909> want<00:08:20.909> to 00:08:20.959 --> 00:08:20.969 align:start position:0% might not you might not want to 00:08:20.969 --> 00:08:22.730 align:start position:0% might not you might not want to completely<00:08:21.419> trust<00:08:21.719> the<00:08:21.900> babysitter<00:08:22.409> and<00:08:22.529> you 00:08:22.730 --> 00:08:22.740 align:start position:0% completely trust the babysitter and you 00:08:22.740 --> 00:08:25.209 align:start position:0% completely trust the babysitter and you want<00:08:22.919> to<00:08:23.009> check<00:08:23.190> on<00:08:23.250> a<00:08:23.639> check<00:08:23.940> on<00:08:24.029> the<00:08:24.150> baby<00:08:24.330> and 00:08:25.209 --> 00:08:25.219 align:start position:0% want to check on a check on the baby and 00:08:25.219 --> 00:08:29.390 align:start position:0% want to check on a check on the baby and sometimes<00:08:26.219> so<00:08:26.940> what<00:08:27.569> what<00:08:28.020> do<00:08:28.110> you<00:08:28.199> do<00:08:28.349> how<00:08:29.340> do 00:08:29.390 --> 00:08:29.400 align:start position:0% sometimes so what what do you do how do 00:08:29.400 --> 00:08:30.610 align:start position:0% sometimes so what what do you do how do you<00:08:29.550> do<00:08:29.669> that 00:08:30.610 --> 00:08:30.620 align:start position:0% you do that 00:08:30.620 --> 00:08:33.699 align:start position:0% you do that sorry<00:08:31.620> I'm<00:08:31.740> going<00:08:32.099> the<00:08:32.310> wrong<00:08:32.399> way 00:08:33.699 --> 00:08:33.709 align:start position:0% sorry I'm going the wrong way 00:08:33.709 --> 00:08:37.219 align:start position:0% sorry I'm going the wrong way so<00:08:34.709> the<00:08:34.979> basic<00:08:35.279> idea<00:08:35.399> is<00:08:35.849> that<00:08:36.229> basically 00:08:37.219 --> 00:08:37.229 align:start position:0% so the basic idea is that basically 00:08:37.229 --> 00:08:40.850 align:start position:0% so the basic idea is that basically commit<00:08:37.560> a<00:08:38.130> particular<00:08:38.610> amount<00:08:39.029> of<00:08:39.860> payment 00:08:40.850 --> 00:08:40.860 align:start position:0% commit a particular amount of payment 00:08:40.860 --> 00:08:43.459 align:start position:0% commit a particular amount of payment that<00:08:41.010> it's<00:08:41.310> that<00:08:41.729> is<00:08:41.909> needed<00:08:42.390> for<00:08:42.419> for<00:08:43.110> storing 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it periodically<00:08:52.440> in<00:08:52.589> installments<00:08:53.070> in<00:08:53.940> response 00:08:54.439 --> 00:08:54.449 align:start position:0% periodically in installments in response 00:08:54.449 --> 00:08:56.720 align:start position:0% periodically in installments in response to<00:08:54.720> certain<00:08:55.020> proof<00:08:55.410> that<00:08:55.889> that<00:08:56.339> you're 00:08:56.720 --> 00:08:56.730 align:start position:0% to certain proof that that you're 00:08:56.730 --> 00:08:58.910 align:start position:0% to certain proof that that you're content<00:08:57.149> exists<00:08:57.569> so<00:08:57.720> in<00:08:58.109> the<00:08:58.199> baby's<00:08:58.529> case<00:08:58.769> you 00:08:58.910 --> 00:08:58.920 align:start position:0% content exists so in the baby's case you 00:08:58.920 --> 00:09:01.009 align:start position:0% content exists so in the baby's case you basically<00:08:59.639> call<00:08:59.910> the<00:09:00.059> babysitter<00:09:00.329> every<00:09:00.839> day 00:09:01.009 --> 00:09:01.019 align:start position:0% basically call the babysitter every day 00:09:01.019 --> 00:09:03.109 align:start position:0% basically call the babysitter every day for<00:09:01.799> the<00:09:01.889> week<00:09:02.009> that<00:09:02.189> they<00:09:02.339> are<00:09:02.399> there<00:09:02.579> and<00:09:02.790> you 00:09:03.109 --> 00:09:03.119 align:start position:0% for the week that they are there and you 00:09:03.119 --> 00:09:04.879 align:start position:0% for the week that they are there and you want<00:09:03.269> to<00:09:03.329> check<00:09:03.540> like<00:09:03.779> whether<00:09:04.139> they<00:09:04.350> are<00:09:04.499> okay 00:09:04.879 --> 00:09:04.889 align:start position:0% want to check like whether they are okay 00:09:04.889 --> 00:09:07.639 align:start position:0% want to check like whether they are okay so<00:09:05.519> this<00:09:05.819> is<00:09:05.970> this<00:09:06.119> particular<00:09:06.929> type<00:09:07.619> of 00:09:07.639 --> 00:09:07.649 align:start position:0% so this is this particular type of 00:09:07.649 --> 00:09:09.559 align:start position:0% so this is this particular type of constructs<00:09:08.279> they<00:09:08.519> could<00:09:08.730> proof<00:09:08.999> of<00:09:09.149> course<00:09:09.359> to 00:09:09.559 --> 00:09:09.569 align:start position:0% constructs they could proof of course to 00:09:09.569 --> 00:09:10.329 align:start position:0% constructs they could proof of course to the 00:09:10.329 --> 00:09:10.339 align:start position:0% the 00:09:10.339 --> 00:09:13.400 align:start position:0% the constructs<00:09:11.339> which<00:09:11.819> make<00:09:12.029> sure<00:09:12.269> that<00:09:12.509> you<00:09:13.139> can 00:09:13.400 --> 00:09:13.410 align:start position:0% constructs which make sure that you can 00:09:13.410 --> 00:09:17.289 align:start position:0% constructs which make sure that you can you<00:09:14.009> can<00:09:14.040> actually<00:09:14.519> have<00:09:15.089> a<00:09:15.389> very<00:09:15.899> good 00:09:17.289 --> 00:09:17.299 align:start position:0% you can actually have a very good 00:09:17.299 --> 00:09:20.210 align:start position:0% you can actually have a very good level<00:09:18.299> of<00:09:18.359> security<00:09:18.689> in<00:09:19.199> telling<00:09:19.589> your 00:09:20.210 --> 00:09:20.220 align:start position:0% level of security in telling your 00:09:20.220 --> 00:09:22.669 align:start position:0% level of security in telling your content<00:09:20.730> is<00:09:20.879> stored<00:09:21.119> by<00:09:21.509> by<00:09:21.929> a<00:09:21.959> store<00:09:22.319> without 00:09:22.669 --> 00:09:22.679 align:start position:0% content is stored by by a store without 00:09:22.679 --> 00:09:25.960 align:start position:0% content is stored by by a store without actually<00:09:23.429> having<00:09:23.549> to<00:09:23.730> retrieve<00:09:24.179> the<00:09:24.389> full<00:09:24.600> set 00:09:25.960 --> 00:09:25.970 align:start position:0% actually having to retrieve the full set 00:09:25.970 --> 00:09:30.049 align:start position:0% actually having to retrieve the full set this<00:09:26.970> this<00:09:27.299> is<00:09:27.480> this<00:09:28.350> constructor<00:09:29.309> analyze 00:09:30.049 --> 00:09:30.059 align:start position:0% this this is this constructor analyze 00:09:30.059 --> 00:09:32.389 align:start position:0% this this is this constructor analyze them<00:09:30.329> and<00:09:30.509> a<00:09:30.869> suggestion<00:09:31.410> of<00:09:31.709> like<00:09:32.040> which<00:09:32.220> one 00:09:32.389 --> 00:09:32.399 align:start position:0% them and a suggestion of like which one 00:09:32.399 --> 00:09:34.329 align:start position:0% them and a suggestion of like which one to<00:09:32.549> use<00:09:32.579> this<00:09:32.879> is 00:09:34.329 --> 00:09:34.339 align:start position:0% to use this is 00:09:34.339 --> 00:09:39.069 align:start position:0% to use this is written<00:09:35.339> in<00:09:35.459> the<00:09:35.579> orange 00:09:39.069 --> 00:09:39.079 align:start position:0% 00:09:39.079 --> 00:09:40.989 align:start position:0% so 00:09:40.989 --> 00:09:40.999 align:start position:0% so 00:09:40.999 --> 00:09:44.960 align:start position:0% so once<00:09:41.999> again<00:09:42.179> these<00:09:42.689> these<00:09:43.639> payments<00:09:44.639> for<00:09:44.879> the 00:09:44.960 --> 00:09:44.970 align:start position:0% once again these these payments for the 00:09:44.970 --> 00:09:47.090 align:start position:0% once again these these payments for the storage<00:09:45.239> are<00:09:45.509> really<00:09:46.199> still<00:09:46.439> installments 00:09:47.090 --> 00:09:47.100 align:start position:0% storage are really still installments 00:09:47.100 --> 00:09:47.799 align:start position:0% storage are really still installments and 00:09:47.799 --> 00:09:47.809 align:start position:0% and 00:09:47.809 --> 00:09:51.319 align:start position:0% and they<00:09:48.809> can<00:09:49.169> be<00:09:49.379> integrated<00:09:50.339> in<00:09:50.819> the<00:09:50.939> payment 00:09:51.319 --> 00:09:51.329 align:start position:0% they can be integrated in the payment 00:09:51.329 --> 00:09:54.939 align:start position:0% they can be integrated in the payment channel<00:09:51.629> logic<00:09:52.019> how<00:09:52.980> well<00:09:53.579> as 00:09:54.939 --> 00:09:54.949 align:start position:0% channel logic how well as 00:09:54.949 --> 00:09:58.340 align:start position:0% channel logic how well as physically<00:09:56.329> escrow<00:09:57.329> release<00:09:57.689> conditions 00:09:58.340 --> 00:09:58.350 align:start position:0% physically escrow release conditions 00:09:58.350 --> 00:10:01.429 align:start position:0% physically escrow release conditions what<00:09:59.129> this<00:09:59.279> means<00:09:59.549> is<00:09:59.850> that<00:09:59.910> you<00:10:00.899> can<00:10:01.110> have<00:10:01.259> an 00:10:01.429 --> 00:10:01.439 align:start position:0% what this means is that you can have an 00:10:01.439 --> 00:10:03.720 align:start position:0% what this means is that you can have an automated<00:10:01.799> process<00:10:02.209> which 00:10:03.720 --> 00:10:03.730 align:start position:0% automated process which 00:10:03.730 --> 00:10:04.900 align:start position:0% automated process which [Music] 00:10:04.900 --> 00:10:04.910 align:start position:0% [Music] 00:10:04.910 --> 00:10:07.579 align:start position:0% [Music] which<00:10:05.910> can<00:10:06.360> make<00:10:06.540> sure<00:10:06.749> that<00:10:06.959> that<00:10:07.290> the<00:10:07.410> proof 00:10:07.579 --> 00:10:07.589 align:start position:0% which can make sure that that the proof 00:10:07.589 --> 00:10:10.449 align:start position:0% which can make sure that that the proof of<00:10:07.679> custody<00:10:08.189> is<00:10:08.220> valid<00:10:08.639> and<00:10:08.939> if<00:10:09.660> if<00:10:09.929> that 00:10:10.449 --> 00:10:10.459 align:start position:0% of custody is valid and if if that 00:10:10.459 --> 00:10:14.569 align:start position:0% of custody is valid and if if that verification<00:10:11.459> can<00:10:12.059> be<00:10:12.269> done<00:10:12.480> then<00:10:13.350> then<00:10:14.339> the 00:10:14.569 --> 00:10:14.579 align:start position:0% verification can be done then then the 00:10:14.579 --> 00:10:16.970 align:start position:0% verification can be done then then the release<00:10:15.089> of<00:10:15.419> the<00:10:15.689> of<00:10:15.869> the<00:10:16.079> installment<00:10:16.439> can 00:10:16.970 --> 00:10:16.980 align:start position:0% release of the of the installment can 00:10:16.980 --> 00:10:19.669 align:start position:0% release of the of the installment can can<00:10:17.339> be<00:10:17.389> conditional<00:10:18.389> on<00:10:18.509> that<00:10:18.689> which<00:10:19.410> means 00:10:19.669 --> 00:10:19.679 align:start position:0% can be conditional on that which means 00:10:19.679 --> 00:10:21.859 align:start position:0% can be conditional on that which means that<00:10:19.949> smart<00:10:20.610> contracts<00:10:21.089> are<00:10:21.209> idea<00:10:21.600> to 00:10:21.859 --> 00:10:21.869 align:start position:0% that smart contracts are idea to 00:10:21.869 --> 00:10:25.249 align:start position:0% that smart contracts are idea to increment<00:10:22.110> this<00:10:22.410> this<00:10:22.829> kind<00:10:23.069> of<00:10:23.160> logic<00:10:23.730> so<00:10:24.689> we 00:10:25.249 --> 00:10:25.259 align:start position:0% increment this this kind of logic so we 00:10:25.259 --> 00:10:28.819 align:start position:0% increment this this kind of logic so we call<00:10:25.499> the<00:10:26.100> the<00:10:26.610> the<00:10:27.480> logic<00:10:27.809> that<00:10:28.019> determines 00:10:28.819 --> 00:10:28.829 align:start position:0% call the the the logic that determines 00:10:28.829 --> 00:10:30.739 align:start position:0% call the the the logic that determines whether<00:10:29.040> in<00:10:29.489> a<00:10:29.610> particular<00:10:29.730> incentive<00:10:30.329> scheme 00:10:30.739 --> 00:10:30.749 align:start position:0% whether in a particular incentive scheme 00:10:30.749 --> 00:10:33.319 align:start position:0% whether in a particular incentive scheme like<00:10:30.929> promises<00:10:31.619> is<00:10:32.220> kept<00:10:32.489> is<00:10:32.970> called<00:10:33.269> the 00:10:33.319 --> 00:10:33.329 align:start position:0% like promises is kept is called the 00:10:33.329 --> 00:10:35.629 align:start position:0% like promises is kept is called the judge<00:10:33.509> contract<00:10:34.019> and<00:10:34.290> this<00:10:34.739> whole<00:10:34.980> you<00:10:35.610> know 00:10:35.629 --> 00:10:35.639 align:start position:0% judge contract and this whole you know 00:10:35.639 --> 00:10:37.789 align:start position:0% judge contract and this whole you know pattern<00:10:35.970> of<00:10:36.239> refusing<00:10:37.230> the<00:10:37.350> smart<00:10:37.589> contract 00:10:37.789 --> 00:10:37.799 align:start position:0% pattern of refusing the smart contract 00:10:37.799 --> 00:10:40.929 align:start position:0% pattern of refusing the smart contract as<00:10:38.189> a<00:10:38.220> as<00:10:38.910> a<00:10:39.059> judge<00:10:39.299> is<00:10:39.689> gonna 00:10:40.929 --> 00:10:40.939 align:start position:0% as a as a judge is gonna 00:10:40.939 --> 00:10:44.419 align:start position:0% as a as a judge is gonna come<00:10:41.939> in<00:10:42.089> in<00:10:42.269> in<00:10:42.480> various<00:10:42.869> forms<00:10:43.259> in<00:10:43.439> in<00:10:43.769> a<00:10:44.249> lot 00:10:44.419 --> 00:10:44.429 align:start position:0% come in in in various forms in in a lot 00:10:44.429 --> 00:10:47.799 align:start position:0% come in in in various forms in in a lot of<00:10:44.459> incentive<00:10:45.059> systems<00:10:45.509> so 00:10:47.799 --> 00:10:47.809 align:start position:0% of incentive systems so 00:10:47.809 --> 00:10:53.239 align:start position:0% of incentive systems so so<00:10:48.809> far<00:10:49.309> we<00:10:50.480> we<00:10:51.480> can<00:10:51.689> make<00:10:51.869> sure<00:10:52.109> that<00:10:52.249> the 00:10:53.239 --> 00:10:53.249 align:start position:0% so far we we can make sure that the 00:10:53.249 --> 00:10:55.759 align:start position:0% so far we we can make sure that the babysitter<00:10:53.730> is<00:10:53.939> not<00:10:54.149> getting<00:10:54.419> paid<00:10:54.749> if<00:10:55.379> our 00:10:55.759 --> 00:10:55.769 align:start position:0% babysitter is not getting paid if our 00:10:55.769 --> 00:10:59.239 align:start position:0% babysitter is not getting paid if our baby<00:10:56.009> goes<00:10:56.279> missing<00:10:56.999> are<00:10:57.359> you<00:10:57.449> happy<00:10:57.919> well<00:10:58.919> I'm 00:10:59.239 --> 00:10:59.249 align:start position:0% baby goes missing are you happy well I'm 00:10:59.249 --> 00:11:02.869 align:start position:0% baby goes missing are you happy well I'm a<00:10:59.309> habit<00:11:00.059> in<00:11:00.329> two<00:11:00.480> months<00:11:00.629> so<00:11:01.049> I<00:11:01.799> think<00:11:02.279> we<00:11:02.549> need 00:11:02.869 --> 00:11:02.879 align:start position:0% a habit in two months so I think we need 00:11:02.879 --> 00:11:04.609 align:start position:0% a habit in two months so I think we need in<00:11:03.239> this<00:11:03.389> case<00:11:03.629> some<00:11:04.139> sort<00:11:04.350> of<00:11:04.410> punitive 00:11:04.609 --> 00:11:04.619 align:start position:0% in this case some sort of punitive 00:11:04.619 --> 00:11:07.740 align:start position:0% in this case some sort of punitive measure<00:11:05.450> added<00:11:05.690> to<00:11:05.810> that<00:11:05.930> so 00:11:07.740 --> 00:11:07.750 align:start position:0% measure added to that so 00:11:07.750 --> 00:11:11.080 align:start position:0% measure added to that so we're<00:11:08.750> holding<00:11:08.990> them<00:11:09.380> the<00:11:09.560> positive<00:11:10.090> reward 00:11:11.080 --> 00:11:11.090 align:start position:0% we're holding them the positive reward 00:11:11.090 --> 00:11:14.080 align:start position:0% we're holding them the positive reward as<00:11:11.780> an<00:11:11.990> incentive<00:11:12.320> is<00:11:12.770> nice<00:11:13.400> it's<00:11:13.820> almost 00:11:14.080 --> 00:11:14.090 align:start position:0% as an incentive is nice it's almost 00:11:14.090 --> 00:11:15.940 align:start position:0% as an incentive is nice it's almost necessary<00:11:14.600> but<00:11:14.870> it's<00:11:15.020> not<00:11:15.080> sufficient<00:11:15.200> and 00:11:15.940 --> 00:11:15.950 align:start position:0% necessary but it's not sufficient and 00:11:15.950 --> 00:11:18.040 align:start position:0% necessary but it's not sufficient and therefore<00:11:16.400> we<00:11:16.910> we<00:11:17.180> need<00:11:17.390> to<00:11:17.510> introduce<00:11:17.720> this 00:11:18.040 --> 00:11:18.050 align:start position:0% therefore we we need to introduce this 00:11:18.050 --> 00:11:21.610 align:start position:0% therefore we we need to introduce this by<00:11:18.370> punishments<00:11:19.370> so<00:11:19.790> how<00:11:20.060> do<00:11:20.390> we<00:11:20.510> do<00:11:20.720> that<00:11:21.200> so 00:11:21.610 --> 00:11:21.620 align:start position:0% by punishments so how do we do that so 00:11:21.620 --> 00:11:25.920 align:start position:0% by punishments so how do we do that so first<00:11:21.890> of<00:11:22.070> all<00:11:22.390> we<00:11:23.390> need<00:11:23.510> a<00:11:23.680> component<00:11:24.680> where<00:11:25.280> I 00:11:25.920 --> 00:11:25.930 align:start position:0% first of all we need a component where I 00:11:25.930 --> 00:11:31.600 align:start position:0% first of all we need a component where I expect<00:11:27.430> the<00:11:28.430> nodes<00:11:28.730> to<00:11:29.000> be<00:11:29.420> registered<00:11:30.610> in 00:11:31.600 --> 00:11:31.610 align:start position:0% expect the nodes to be registered in 00:11:31.610 --> 00:11:32.730 align:start position:0% expect the nodes to be registered in order<00:11:31.910> to 00:11:32.730 --> 00:11:32.740 align:start position:0% order to 00:11:32.740 --> 00:11:36.430 align:start position:0% order to to<00:11:33.740> make<00:11:34.040> sure<00:11:34.190> that<00:11:34.820> they<00:11:35.600> have<00:11:35.810> something<00:11:36.080> on 00:11:36.430 --> 00:11:36.440 align:start position:0% to make sure that they have something on 00:11:36.440 --> 00:11:39.490 align:start position:0% to make sure that they have something on the<00:11:36.590> line<00:11:36.740> they<00:11:36.950> have<00:11:37.130> something<00:11:37.430> it's<00:11:38.500> to 00:11:39.490 --> 00:11:39.500 align:start position:0% the line they have something it's to 00:11:39.500 --> 00:11:43.030 align:start position:0% the line they have something it's to stake<00:11:39.800> so<00:11:40.520> if<00:11:40.640> they<00:11:40.820> make<00:11:40.970> a<00:11:41.030> mistake<00:11:42.040> then 00:11:43.030 --> 00:11:43.040 align:start position:0% stake so if they make a mistake then 00:11:43.040 --> 00:11:45.450 align:start position:0% stake so if they make a mistake then they<00:11:43.220> lose 00:11:45.450 --> 00:11:45.460 align:start position:0% 00:11:45.460 --> 00:11:48.250 align:start position:0% their<00:11:46.460> stake<00:11:46.730> in<00:11:46.760> this<00:11:47.630> case<00:11:47.840> we<00:11:48.050> called 00:11:48.250 --> 00:11:48.260 align:start position:0% their stake in this case we called 00:11:48.260 --> 00:11:52.240 align:start position:0% their stake in this case we called security<00:11:48.740> deposit<00:11:49.340> and<00:11:50.080> this<00:11:51.080> this<00:11:51.680> component 00:11:52.240 --> 00:11:52.250 align:start position:0% security deposit and this this component 00:11:52.250 --> 00:11:53.350 align:start position:0% security deposit and this this component of<00:11:52.370> the<00:11:52.460> system<00:11:52.760> is<00:11:52.850> called<00:11:53.060> as<00:11:53.150> where 00:11:53.350 --> 00:11:53.360 align:start position:0% of the system is called as where 00:11:53.360 --> 00:11:54.480 align:start position:0% of the system is called as where contract 00:11:54.480 --> 00:11:54.490 align:start position:0% contract 00:11:54.490 --> 00:11:57.220 align:start position:0% contract double<00:11:55.490> meaning<00:11:55.790> it<00:11:55.940> means<00:11:56.480> that<00:11:56.630> you<00:11:56.780> swear 00:11:57.220 --> 00:11:57.230 align:start position:0% double meaning it means that you swear 00:11:57.230 --> 00:12:01.660 align:start position:0% double meaning it means that you swear to<00:11:57.440> to<00:11:58.420> keep<00:11:59.420> to<00:11:59.630> the<00:12:00.110> rules<00:12:00.320> of<00:12:00.470> the<00:12:00.650> game<00:12:01.520> and 00:12:01.660 --> 00:12:01.670 align:start position:0% to to keep to the rules of the game and 00:12:01.670 --> 00:12:05.350 align:start position:0% to to keep to the rules of the game and you<00:12:02.830> stand<00:12:03.830> to<00:12:04.010> lose<00:12:04.070> your<00:12:04.430> deposit<00:12:04.640> and 00:12:05.350 --> 00:12:05.360 align:start position:0% you stand to lose your deposit and 00:12:05.360 --> 00:12:08.370 align:start position:0% you stand to lose your deposit and therefore<00:12:06.320> your<00:12:06.440> reputation<00:12:06.710> and<00:12:07.220> and 00:12:08.370 --> 00:12:08.380 align:start position:0% therefore your reputation and and 00:12:08.380 --> 00:12:10.840 align:start position:0% therefore your reputation and and participation<00:12:09.380> at<00:12:10.370> least<00:12:10.640> with<00:12:10.820> that 00:12:10.840 --> 00:12:10.850 align:start position:0% participation at least with that 00:12:10.850 --> 00:12:14.050 align:start position:0% participation at least with that identity<00:12:11.480> for<00:12:12.020> a<00:12:12.050> while<00:12:12.200> in<00:12:12.680> case<00:12:12.980> you<00:12:13.370> found 00:12:14.050 --> 00:12:14.060 align:start position:0% identity for a while in case you found 00:12:14.060 --> 00:12:19.020 align:start position:0% identity for a while in case you found to<00:12:14.570> misbehave<00:12:15.310> so 00:12:19.020 --> 00:12:19.030 align:start position:0% 00:12:19.030 --> 00:12:22.500 align:start position:0% how<00:12:20.030> do<00:12:20.300> you<00:12:20.510> get<00:12:20.660> the<00:12:20.810> receipts 00:12:22.500 --> 00:12:22.510 align:start position:0% how do you get the receipts 00:12:22.510 --> 00:12:26.410 align:start position:0% how do you get the receipts so<00:12:23.590> so<00:12:24.590> this<00:12:24.740> one<00:12:24.950> we<00:12:25.790> already<00:12:25.970> talked<00:12:26.330> about 00:12:26.410 --> 00:12:26.420 align:start position:0% so so this one we already talked about 00:12:26.420 --> 00:12:29.440 align:start position:0% so so this one we already talked about the<00:12:26.720> retrieval<00:12:27.320> process<00:12:27.880> basically<00:12:28.880> the<00:12:29.180> same 00:12:29.440 --> 00:12:29.450 align:start position:0% the retrieval process basically the same 00:12:29.450 --> 00:12:32.320 align:start position:0% the retrieval process basically the same routing<00:12:29.930> mechanism<00:12:30.890> is<00:12:31.010> used<00:12:31.040> for<00:12:31.580> for<00:12:32.180> this 00:12:32.320 --> 00:12:32.330 align:start position:0% routing mechanism is used for for this 00:12:32.330 --> 00:12:35.170 align:start position:0% routing mechanism is used for for this process<00:12:33.050> called<00:12:33.320> singing<00:12:33.560> thinking<00:12:34.460> make 00:12:35.170 --> 00:12:35.180 align:start position:0% process called singing thinking make 00:12:35.180 --> 00:12:37.500 align:start position:0% process called singing thinking make sure<00:12:35.420> that<00:12:35.660> the<00:12:35.810> content 00:12:37.500 --> 00:12:37.510 align:start position:0% sure that the content 00:12:37.510 --> 00:12:41.350 align:start position:0% sure that the content finds<00:12:38.510> the<00:12:39.140> appropriate<00:12:39.710> address<00:12:40.250> that<00:12:40.910> it 00:12:41.350 --> 00:12:41.360 align:start position:0% finds the appropriate address that it 00:12:41.360 --> 00:12:44.140 align:start position:0% finds the appropriate address that it should<00:12:41.600> be<00:12:41.780> stored<00:12:42.020> at<00:12:42.290> so<00:12:43.130> you<00:12:43.880> have<00:12:44.030> the 00:12:44.140 --> 00:12:44.150 align:start position:0% should be stored at so you have the 00:12:44.150 --> 00:12:46.840 align:start position:0% should be stored at so you have the owner<00:12:44.300> who<00:12:44.710> puts<00:12:45.710> up<00:12:45.890> like<00:12:46.070> upload<00:12:46.460> the<00:12:46.580> chunk 00:12:46.840 --> 00:12:46.850 align:start position:0% owner who puts up like upload the chunk 00:12:46.850 --> 00:12:49.510 align:start position:0% owner who puts up like upload the chunk or<00:12:47.240> a<00:12:47.300> piece<00:12:47.750> of<00:12:47.900> data<00:12:48.050> to<00:12:48.230> the<00:12:48.440> network<00:12:48.830> then 00:12:49.510 --> 00:12:49.520 align:start position:0% or a piece of data to the network then 00:12:49.520 --> 00:12:52.960 align:start position:0% or a piece of data to the network then it<00:12:50.420> has<00:12:50.630> to<00:12:50.810> has<00:12:51.380> to<00:12:51.410> arrive<00:12:51.770> at<00:12:52.340> the<00:12:52.640> chunks 00:12:52.960 --> 00:12:52.970 align:start position:0% it has to has to arrive at the chunks 00:12:52.970 --> 00:12:54.480 align:start position:0% it has to has to arrive at the chunks address<00:12:53.330> and 00:12:54.480 --> 00:12:54.490 align:start position:0% address and 00:12:54.490 --> 00:12:56.890 align:start position:0% address and basically<00:12:55.490> have<00:12:55.700> to<00:12:55.850> be<00:12:55.970> stored<00:12:56.300> by<00:12:56.600> the<00:12:56.630> node 00:12:56.890 --> 00:12:56.900 align:start position:0% basically have to be stored by the node 00:12:56.900 --> 00:12:59.110 align:start position:0% basically have to be stored by the node that's<00:12:57.380> closest<00:12:57.800> to<00:12:57.980> that<00:12:58.010> address<00:12:58.310> how<00:12:58.910> does 00:12:59.110 --> 00:12:59.120 align:start position:0% that's closest to that address how does 00:12:59.120 --> 00:13:01.360 align:start position:0% that's closest to that address how does it<00:12:59.240> get<00:12:59.360> there<00:12:59.420> well<00:13:00.050> as<00:13:00.260> IRA<00:13:00.920> mentioned 00:13:01.360 --> 00:13:01.370 align:start position:0% it get there well as IRA mentioned 00:13:01.370 --> 00:13:03.460 align:start position:0% it get there well as IRA mentioned there's<00:13:01.490> always<00:13:01.700> a<00:13:01.880> node<00:13:02.240> that's<00:13:02.870> closer<00:13:03.200> to 00:13:03.460 --> 00:13:03.470 align:start position:0% there's always a node that's closer to 00:13:03.470 --> 00:13:05.800 align:start position:0% there's always a node that's closer to the<00:13:03.590> to<00:13:03.890> the<00:13:03.980> any<00:13:04.130> address<00:13:04.490> than<00:13:04.730> you<00:13:04.880> this<00:13:05.630> is 00:13:05.800 --> 00:13:05.810 align:start position:0% the to the any address than you this is 00:13:05.810 --> 00:13:07.810 align:start position:0% the to the any address than you this is the<00:13:05.990> property<00:13:06.530> of<00:13:06.680> the<00:13:06.860> Camellia<00:13:07.400> network 00:13:07.810 --> 00:13:07.820 align:start position:0% the property of the Camellia network 00:13:07.820 --> 00:13:10.720 align:start position:0% the property of the Camellia network this<00:13:08.750> particular<00:13:09.470> network<00:13:10.130> topology<00:13:10.700> that 00:13:10.720 --> 00:13:10.730 align:start position:0% this particular network topology that 00:13:10.730 --> 00:13:12.490 align:start position:0% this particular network topology that makes<00:13:11.060> sure<00:13:11.150> that<00:13:11.270> this<00:13:11.480> is<00:13:11.660> the<00:13:11.780> case<00:13:11.960> then 00:13:12.490 --> 00:13:12.500 align:start position:0% makes sure that this is the case then 00:13:12.500 --> 00:13:13.630 align:start position:0% makes sure that this is the case then you<00:13:12.530> pass<00:13:12.800> the 00:13:13.630 --> 00:13:13.640 align:start position:0% you pass the 00:13:13.640 --> 00:13:16.690 align:start position:0% you pass the talk<00:13:14.300> to<00:13:14.450> that<00:13:14.480> fear<00:13:15.050> which<00:13:15.800> is<00:13:15.980> directly 00:13:16.690 --> 00:13:16.700 align:start position:0% talk to that fear which is directly 00:13:16.700 --> 00:13:18.760 align:start position:0% talk to that fear which is directly connected<00:13:16.970> to<00:13:17.210> you<00:13:17.360> and<00:13:17.570> that<00:13:17.990> peer<00:13:18.350> does<00:13:18.590> the 00:13:18.760 --> 00:13:18.770 align:start position:0% connected to you and that peer does the 00:13:18.770 --> 00:13:21.730 align:start position:0% connected to you and that peer does the same<00:13:18.980> so<00:13:19.420> through<00:13:20.420> a<00:13:20.480> series<00:13:20.600> of<00:13:20.990> relay<00:13:21.470> nodes 00:13:21.730 --> 00:13:21.740 align:start position:0% same so through a series of relay nodes 00:13:21.740 --> 00:13:24.430 align:start position:0% same so through a series of relay nodes and<00:13:22.040> through<00:13:22.760> a<00:13:22.820> process<00:13:22.850> so<00:13:23.300> forwarding<00:13:23.930> the 00:13:24.430 --> 00:13:24.440 align:start position:0% and through a process so forwarding the 00:13:24.440 --> 00:13:28.050 align:start position:0% and through a process so forwarding the the<00:13:24.860> chunk<00:13:25.130> ends<00:13:26.090> up<00:13:26.210> and<00:13:26.450> the<00:13:27.230> closest<00:13:27.770> node 00:13:28.050 --> 00:13:28.060 align:start position:0% the chunk ends up and the closest node 00:13:28.060 --> 00:13:31.570 align:start position:0% the chunk ends up and the closest node so<00:13:29.060> what<00:13:30.020> what<00:13:30.410> what<00:13:30.710> happens<00:13:31.040> when<00:13:31.220> where<00:13:31.460> we 00:13:31.570 --> 00:13:31.580 align:start position:0% so what what what happens when where we 00:13:31.580 --> 00:13:34.630 align:start position:0% so what what what happens when where we are<00:13:31.700> want<00:13:31.820> to<00:13:31.880> ensure<00:13:32.240> the<00:13:32.420> storage<00:13:32.780> like<00:13:33.640> well 00:13:34.630 --> 00:13:34.640 align:start position:0% are want to ensure the storage like well 00:13:34.640 --> 00:13:36.850 align:start position:0% are want to ensure the storage like well it's<00:13:35.150> very<00:13:35.330> simple<00:13:35.810> we<00:13:36.050> just<00:13:36.230> enrich<00:13:36.650> this 00:13:36.850 --> 00:13:36.860 align:start position:0% it's very simple we just enrich this 00:13:36.860 --> 00:13:42.900 align:start position:0% it's very simple we just enrich this process<00:13:37.310> with<00:13:37.610> the<00:13:37.760> reverse 00:13:42.900 --> 00:13:42.910 align:start position:0% 00:13:42.910 --> 00:13:46.470 align:start position:0% basically<00:13:43.910> a<00:13:43.990> reverse<00:13:44.990> process<00:13:45.290> whereby 00:13:46.470 --> 00:13:46.480 align:start position:0% basically a reverse process whereby 00:13:46.480 --> 00:13:52.170 align:start position:0% basically a reverse process whereby on<00:13:47.480> each<00:13:47.740> swap<00:13:48.940> transaction<00:13:49.940> where<00:13:50.390> the<00:13:50.540> peer 00:13:52.170 --> 00:13:52.180 align:start position:0% on each swap transaction where the peer 00:13:52.180 --> 00:13:55.570 align:start position:0% on each swap transaction where the peer forwards<00:13:53.180> the<00:13:53.420> chunk<00:13:53.870> they<00:13:54.530> get<00:13:55.040> a<00:13:55.070> receipt 00:13:55.570 --> 00:13:55.580 align:start position:0% forwards the chunk they get a receipt 00:13:55.580 --> 00:13:57.360 align:start position:0% forwards the chunk they get a receipt back<00:13:56.510> and 00:13:57.360 --> 00:13:57.370 align:start position:0% back and 00:13:57.370 --> 00:14:00.940 align:start position:0% back and with<00:13:58.370> that<00:13:58.550> receipt<00:13:58.970> what<00:13:59.630> can<00:13:59.870> we<00:13:59.960> do<00:14:00.110> well 00:14:00.940 --> 00:14:00.950 align:start position:0% with that receipt what can we do well 00:14:00.950 --> 00:14:05.800 align:start position:0% with that receipt what can we do well the<00:14:01.910> word<00:14:02.840> for<00:14:03.080> every<00:14:03.550> peer<00:14:04.550> that<00:14:05.090> you<00:14:05.480> can<00:14:05.690> use 00:14:05.800 --> 00:14:05.810 align:start position:0% the word for every peer that you can use 00:14:05.810 --> 00:14:09.730 align:start position:0% the word for every peer that you can use the<00:14:05.960> receipt<00:14:06.320> to<00:14:06.620> to<00:14:07.430> sue<00:14:08.180> against<00:14:08.870> losing<00:14:09.590> the 00:14:09.730 --> 00:14:09.740 align:start position:0% the receipt to to sue against losing the 00:14:09.740 --> 00:14:12.700 align:start position:0% the receipt to to sue against losing the chunk<00:14:09.980> so<00:14:10.250> if<00:14:11.060> you<00:14:11.300> if<00:14:11.540> you<00:14:11.660> have<00:14:11.840> the<00:14:12.020> receipt 00:14:12.700 --> 00:14:12.710 align:start position:0% chunk so if you if you have the receipt 00:14:12.710 --> 00:14:15.730 align:start position:0% chunk so if you if you have the receipt then<00:14:13.480> you<00:14:14.480> can<00:14:14.690> start<00:14:15.140> the<00:14:15.290> litigation 00:14:15.730 --> 00:14:15.740 align:start position:0% then you can start the litigation 00:14:15.740 --> 00:14:19.200 align:start position:0% then you can start the litigation process<00:14:16.390> this<00:14:17.390> is<00:14:17.570> gonna<00:14:17.720> be<00:14:17.900> the<00:14:17.990> next 00:14:19.200 --> 00:14:19.210 align:start position:0% process this is gonna be the next 00:14:19.210 --> 00:14:22.000 align:start position:0% process this is gonna be the next component<00:14:20.210> that<00:14:20.540> we<00:14:20.690> talked<00:14:20.900> about<00:14:20.930> so<00:14:21.470> the 00:14:22.000 --> 00:14:22.010 align:start position:0% component that we talked about so the 00:14:22.010 --> 00:14:25.840 align:start position:0% component that we talked about so the litigation<00:14:22.370> process<00:14:22.600> is<00:14:23.600> in<00:14:24.350> in<00:14:25.310> very<00:14:25.550> short 00:14:25.840 --> 00:14:25.850 align:start position:0% litigation process is in in very short 00:14:25.850 --> 00:14:28.570 align:start position:0% litigation process is in in very short it<00:14:26.090> means<00:14:26.300> that<00:14:26.480> it<00:14:27.410> makes<00:14:27.830> sure<00:14:27.950> that<00:14:28.220> if<00:14:28.400> you 00:14:28.570 --> 00:14:28.580 align:start position:0% it means that it makes sure that if you 00:14:28.580 --> 00:14:30.640 align:start position:0% it means that it makes sure that if you if<00:14:28.880> you<00:14:29.120> if<00:14:29.390> you<00:14:29.540> date<00:14:29.720> in<00:14:29.930> the<00:14:30.050> data<00:14:30.230> is<00:14:30.410> lost 00:14:30.640 --> 00:14:30.650 align:start position:0% if you if you date in the data is lost 00:14:30.650 --> 00:14:40.200 align:start position:0% if you if you date in the data is lost then<00:14:31.220> then<00:14:32.210> the<00:14:32.470> food<00:14:33.580> store 00:14:40.200 --> 00:14:40.210 align:start position:0% 00:14:40.210 --> 00:14:44.860 align:start position:0% it's<00:14:41.210> the<00:14:41.750> litigation<00:14:42.200> is<00:14:42.470> does<00:14:42.710> is<00:14:43.100> done<00:14:43.870> by 00:14:44.860 --> 00:14:44.870 align:start position:0% it's the litigation is does is done by 00:14:44.870 --> 00:14:47.980 align:start position:0% it's the litigation is does is done by challenge<00:14:45.440> which<00:14:45.800> means<00:14:46.100> that<00:14:46.340> whoever<00:14:47.300> who'd 00:14:47.980 --> 00:14:47.990 align:start position:0% challenge which means that whoever who'd 00:14:47.990 --> 00:14:50.410 align:start position:0% challenge which means that whoever who'd valid<00:14:48.680> receipt<00:14:49.100> for<00:14:49.580> a<00:14:49.610> chunk<00:14:49.850> and<00:14:50.060> they<00:14:50.210> don't 00:14:50.410 --> 00:14:50.420 align:start position:0% valid receipt for a chunk and they don't 00:14:50.420 --> 00:14:53.910 align:start position:0% valid receipt for a chunk and they don't find<00:14:50.690> that<00:14:51.230> the<00:14:51.680> child<00:14:51.920> they<00:14:52.460> are 00:14:53.910 --> 00:14:53.920 align:start position:0% find that the child they are 00:14:53.920 --> 00:14:57.370 align:start position:0% find that the child they are allowed<00:14:54.920> to<00:14:54.950> to<00:14:55.780> launch<00:14:56.780> a<00:14:56.870> process<00:14:57.200> of 00:14:57.370 --> 00:14:57.380 align:start position:0% allowed to to launch a process of 00:14:57.380 --> 00:14:59.440 align:start position:0% allowed to to launch a process of litigation<00:14:57.770> which<00:14:58.280> basically<00:14:58.610> means<00:14:58.880> sue<00:14:59.300> on 00:14:59.440 --> 00:14:59.450 align:start position:0% litigation which basically means sue on 00:14:59.450 --> 00:15:01.180 align:start position:0% litigation which basically means sue on the<00:14:59.480> blockchain<00:14:59.810> it's<00:15:00.470> it's<00:15:00.800> sending<00:15:01.010> a 00:15:01.180 --> 00:15:01.190 align:start position:0% the blockchain it's it's sending a 00:15:01.190 --> 00:15:02.920 align:start position:0% the blockchain it's it's sending a particular<00:15:01.550> transaction<00:15:02.000> to<00:15:02.450> this<00:15:02.570> to<00:15:02.810> the 00:15:02.920 --> 00:15:02.930 align:start position:0% particular transaction to this to the 00:15:02.930 --> 00:15:04.750 align:start position:0% particular transaction to this to the swindle<00:15:03.320> contract<00:15:03.740> that<00:15:03.920> that<00:15:04.250> handles<00:15:04.640> the 00:15:04.750 --> 00:15:04.760 align:start position:0% swindle contract that that handles the 00:15:04.760 --> 00:15:09.180 align:start position:0% swindle contract that that handles the swarm<00:15:05.060> incentive<00:15:05.570> system<00:15:05.990> and 00:15:09.180 --> 00:15:09.190 align:start position:0% 00:15:09.190 --> 00:15:12.490 align:start position:0% once<00:15:10.190> once<00:15:10.520> you<00:15:10.640> get<00:15:10.850> to<00:15:11.030> this<00:15:11.180> stage<00:15:11.480> the<00:15:12.200> the 00:15:12.490 --> 00:15:12.500 align:start position:0% once once you get to this stage the the 00:15:12.500 --> 00:15:15.280 align:start position:0% once once you get to this stage the the only<00:15:12.650> way<00:15:12.920> that<00:15:13.220> appear<00:15:14.060> can<00:15:14.390> defend 00:15:15.280 --> 00:15:15.290 align:start position:0% only way that appear can defend 00:15:15.290 --> 00:15:17.810 align:start position:0% only way that appear can defend themselves<00:15:15.560> against<00:15:16.400> against<00:15:17.300> this 00:15:17.810 --> 00:15:17.820 align:start position:0% themselves against against this 00:15:17.820 --> 00:15:20.030 align:start position:0% themselves against against this Challenge<00:15:18.270> is<00:15:18.780> like<00:15:19.020> basically<00:15:19.650> two<00:15:19.890> ways 00:15:20.030 --> 00:15:20.040 align:start position:0% Challenge is like basically two ways 00:15:20.040 --> 00:15:22.130 align:start position:0% Challenge is like basically two ways like<00:15:20.340> one<00:15:20.550> is<00:15:20.700> to<00:15:20.880> show<00:15:21.540> the<00:15:21.720> channel<00:15:22.020> that 00:15:22.130 --> 00:15:22.140 align:start position:0% like one is to show the channel that 00:15:22.140 --> 00:15:24.530 align:start position:0% like one is to show the channel that here<00:15:22.320> you<00:15:22.440> premiere<00:15:22.800> you<00:15:22.890> go<00:15:23.010> so<00:15:23.490> like<00:15:23.790> your 00:15:24.530 --> 00:15:24.540 align:start position:0% here you premiere you go so like your 00:15:24.540 --> 00:15:26.270 align:start position:0% here you premiere you go so like your baby<00:15:24.750> is<00:15:24.900> actually<00:15:25.260> here<00:15:25.380> like<00:15:25.680> please<00:15:25.920> please 00:15:26.270 --> 00:15:26.280 align:start position:0% baby is actually here like please please 00:15:26.280 --> 00:15:29.150 align:start position:0% baby is actually here like please please believe<00:15:26.430> me<00:15:26.610> it's<00:15:27.210> okay<00:15:27.710> they<00:15:28.710> are<00:15:28.740> not<00:15:28.830> fast 00:15:29.150 --> 00:15:29.160 align:start position:0% believe me it's okay they are not fast 00:15:29.160 --> 00:15:32.000 align:start position:0% believe me it's okay they are not fast or<00:15:29.610> they<00:15:30.300> actually<00:15:30.420> do<00:15:30.750> some<00:15:31.200> finger-pointing 00:15:32.000 --> 00:15:32.010 align:start position:0% or they actually do some finger-pointing 00:15:32.010 --> 00:15:33.790 align:start position:0% or they actually do some finger-pointing they 00:15:33.790 --> 00:15:33.800 align:start position:0% they 00:15:33.800 --> 00:15:35.720 align:start position:0% they essentially<00:15:34.800> it<00:15:34.920> means<00:15:34.980> they're<00:15:35.400> shifting 00:15:35.720 --> 00:15:35.730 align:start position:0% essentially it means they're shifting 00:15:35.730 --> 00:15:38.680 align:start position:0% essentially it means they're shifting the<00:15:35.880> blame<00:15:36.000> to<00:15:36.750> the<00:15:36.780> next<00:15:37.170> node<00:15:37.350> which 00:15:38.680 --> 00:15:38.690 align:start position:0% the blame to the next node which 00:15:38.690 --> 00:15:42.920 align:start position:0% the blame to the next node which so<00:15:39.690> it<00:15:39.840> was<00:15:40.080> the<00:15:40.230> previous<00:15:40.710> slide<00:15:41.270> so<00:15:42.270> the<00:15:42.570> next 00:15:42.920 --> 00:15:42.930 align:start position:0% so it was the previous slide so the next 00:15:42.930 --> 00:15:45.760 align:start position:0% so it was the previous slide so the next note<00:15:43.110> that<00:15:43.320> that<00:15:43.620> they<00:15:43.770> forwarded<00:15:44.280> it<00:15:44.430> to<00:15:44.460> so 00:15:45.760 --> 00:15:45.770 align:start position:0% note that that they forwarded it to so 00:15:45.770 --> 00:15:49.730 align:start position:0% note that that they forwarded it to so these<00:15:46.770> these<00:15:47.280> local<00:15:48.210> interactions<00:15:48.930> in<00:15:49.500> the 00:15:49.730 --> 00:15:49.740 align:start position:0% these these local interactions in the 00:15:49.740 --> 00:15:52.790 align:start position:0% these these local interactions in the end<00:15:49.860> make<00:15:50.250> sure<00:15:50.280> that<00:15:50.760> the<00:15:51.300> litigation<00:15:52.200> leads 00:15:52.790 --> 00:15:52.800 align:start position:0% end make sure that the litigation leads 00:15:52.800 --> 00:15:58.210 align:start position:0% end make sure that the litigation leads to<00:15:52.980> a<00:15:53.010> correct<00:15:54.000> result<00:15:54.300> and<00:15:54.860> at<00:15:55.860> the<00:15:56.040> same<00:15:56.220> time 00:15:58.210 --> 00:15:58.220 align:start position:0% to a correct result and at the same time 00:15:58.220 --> 00:16:00.680 align:start position:0% to a correct result and at the same time give<00:15:59.220> the<00:15:59.460> give<00:15:59.820> the<00:15:59.850> very<00:16:00.210> interesting 00:16:00.680 --> 00:16:00.690 align:start position:0% give the give the very interesting 00:16:00.690 --> 00:16:03.680 align:start position:0% give the give the very interesting property<00:16:01.140> of<00:16:01.170> the<00:16:01.260> system<00:16:01.500> that<00:16:01.920> the<00:16:02.690> storage 00:16:03.680 --> 00:16:03.690 align:start position:0% property of the system that the storage 00:16:03.690 --> 00:16:06.820 align:start position:0% property of the system that the storage promised 00:16:06.820 --> 00:16:06.830 align:start position:0% 00:16:06.830 --> 00:16:10.070 align:start position:0% contract<00:16:07.830> is<00:16:08.700> immediately<00:16:09.300> settled<00:16:09.810> when 00:16:10.070 --> 00:16:10.080 align:start position:0% contract is immediately settled when 00:16:10.080 --> 00:16:12.500 align:start position:0% contract is immediately settled when when<00:16:10.560> the<00:16:10.680> load<00:16:10.830> approves<00:16:11.700> the<00:16:11.940> content<00:16:12.300> which 00:16:12.500 --> 00:16:12.510 align:start position:0% when the load approves the content which 00:16:12.510 --> 00:16:16.580 align:start position:0% when the load approves the content which spear<00:16:13.490> why<00:16:14.490> because<00:16:15.090> once<00:16:15.600> once<00:16:15.990> he<00:16:16.350> wants 00:16:16.580 --> 00:16:16.590 align:start position:0% spear why because once once he wants 00:16:16.590 --> 00:16:18.620 align:start position:0% spear why because once once he wants your<00:16:16.650> pier<00:16:16.920> gives<00:16:17.430> you<00:16:17.550> the<00:16:17.670> receipt<00:16:18.000> you<00:16:18.600> can 00:16:18.620 --> 00:16:18.630 align:start position:0% your pier gives you the receipt you can 00:16:18.630 --> 00:16:20.470 align:start position:0% your pier gives you the receipt you can always<00:16:18.960> at<00:16:19.350> the<00:16:19.500> later<00:16:19.680> point 00:16:20.470 --> 00:16:20.480 align:start position:0% always at the later point 00:16:20.480 --> 00:16:23.840 align:start position:0% always at the later point litigate<00:16:21.480> with<00:16:21.630> that<00:16:21.810> receipt<00:16:22.200> and<00:16:22.640> you<00:16:23.640> don't 00:16:23.840 --> 00:16:23.850 align:start position:0% litigate with that receipt and you don't 00:16:23.850 --> 00:16:25.940 align:start position:0% litigate with that receipt and you don't need<00:16:24.030> to<00:16:24.210> know<00:16:24.330> who<00:16:24.630> the<00:16:24.780> actual<00:16:25.110> story<00:16:25.380> was<00:16:25.590> so 00:16:25.940 --> 00:16:25.950 align:start position:0% need to know who the actual story was so 00:16:25.950 --> 00:16:27.770 align:start position:0% need to know who the actual story was so it's<00:16:26.340> like<00:16:26.520> it's<00:16:27.090> like<00:16:27.270> going<00:16:27.300> through<00:16:27.510> a 00:16:27.770 --> 00:16:27.780 align:start position:0% it's like it's like going through a 00:16:27.780 --> 00:16:30.710 align:start position:0% it's like it's like going through a series<00:16:28.320> of<00:16:28.410> agents<00:16:28.830> work<00:16:29.100> for<00:16:29.430> a<00:16:29.640> babysitter 00:16:30.710 --> 00:16:30.720 align:start position:0% series of agents work for a babysitter 00:16:30.720 --> 00:16:32.150 align:start position:0% series of agents work for a babysitter you'll<00:16:30.840> actually<00:16:31.170> don't<00:16:31.350> know<00:16:31.470> who<00:16:31.560> the<00:16:31.710> aunty 00:16:32.150 --> 00:16:32.160 align:start position:0% you'll actually don't know who the aunty 00:16:32.160 --> 00:16:35.180 align:start position:0% you'll actually don't know who the aunty babysitter<00:16:32.700> is<00:16:32.910> and<00:16:33.480> who<00:16:33.870> takes<00:16:34.470> care<00:16:34.650> of<00:16:34.710> you 00:16:35.180 --> 00:16:35.190 align:start position:0% babysitter is and who takes care of you 00:16:35.190 --> 00:16:37.180 align:start position:0% babysitter is and who takes care of you okay<00:16:36.120> so 00:16:37.180 --> 00:16:37.190 align:start position:0% okay so 00:16:37.190 --> 00:16:41.540 align:start position:0% okay so this<00:16:38.190> this<00:16:38.820> pattern<00:16:39.800> make<00:16:40.800> sure<00:16:41.040> that<00:16:41.190> you 00:16:41.540 --> 00:16:41.550 align:start position:0% this this pattern make sure that you 00:16:41.550 --> 00:16:43.640 align:start position:0% this this pattern make sure that you have<00:16:41.910> immediate<00:16:42.240> settlement<00:16:42.690> and<00:16:43.230> the 00:16:43.640 --> 00:16:43.650 align:start position:0% have immediate settlement and the 00:16:43.650 --> 00:16:44.830 align:start position:0% have immediate settlement and the correct 00:16:44.830 --> 00:16:44.840 align:start position:0% correct 00:16:44.840 --> 00:16:47.380 align:start position:0% correct accountability<00:16:45.840> of<00:16:46.620> the<00:16:46.800> store 00:16:47.380 --> 00:16:47.390 align:start position:0% accountability of the store 00:16:47.390 --> 00:16:51.400 align:start position:0% accountability of the store simultaneously<00:16:48.390> the<00:16:48.660> system<00:16:49.050> and 00:16:51.400 --> 00:16:51.410 align:start position:0% simultaneously the system and 00:16:51.410 --> 00:16:55.730 align:start position:0% simultaneously the system and this<00:16:52.790> generic<00:16:53.790> pattern<00:16:54.360> for<00:16:54.900> with 00:16:55.730 --> 00:16:55.740 align:start position:0% this generic pattern for with 00:16:55.740 --> 00:16:57.670 align:start position:0% this generic pattern for with programmable<00:16:56.220> incentives 00:16:57.670 --> 00:16:57.680 align:start position:0% programmable incentives 00:16:57.680 --> 00:17:00.500 align:start position:0% programmable incentives which<00:16:58.680> we<00:16:58.890> kind<00:16:59.130> of<00:16:59.250> playfully<00:16:59.730> called<00:16:59.970> sports 00:17:00.500 --> 00:17:00.510 align:start position:0% which we kind of playfully called sports 00:17:00.510 --> 00:17:02.690 align:start position:0% which we kind of playfully called sports parents<00:17:00.930> window<00:17:01.260> good<00:17:02.040> luck<00:17:02.160> for<00:17:02.310> the<00:17:02.370> Chinese 00:17:02.690 --> 00:17:02.700 align:start position:0% parents window good luck for the Chinese 00:17:02.700 --> 00:17:04.390 align:start position:0% parents window good luck for the Chinese translation<00:17:02.880> with<00:17:03.450> this 00:17:04.390 --> 00:17:04.400 align:start position:0% translation with this 00:17:04.400 --> 00:17:06.850 align:start position:0% translation with this this<00:17:05.400> is<00:17:05.610> this<00:17:05.970> is<00:17:06.030> a 00:17:06.850 --> 00:17:06.860 align:start position:0% this is this is a 00:17:06.860 --> 00:17:09.140 align:start position:0% this is this is a physical<00:17:07.860> captures<00:17:08.490> this<00:17:08.640> whole<00:17:08.880> idea<00:17:09.120> that 00:17:09.140 --> 00:17:09.150 align:start position:0% physical captures this whole idea that 00:17:09.150 --> 00:17:11.090 align:start position:0% physical captures this whole idea that you<00:17:09.329> have<00:17:09.570> local<00:17:10.140> interactions<00:17:10.740> on<00:17:10.890> the<00:17:10.980> one 00:17:11.090 --> 00:17:11.100 align:start position:0% you have local interactions on the one 00:17:11.100 --> 00:17:16.240 align:start position:0% you have local interactions on the one hand<00:17:11.310> you<00:17:11.730> have<00:17:11.760> protection<00:17:12.390> against 00:17:16.240 --> 00:17:16.250 align:start position:0% 00:17:16.250 --> 00:17:19.400 align:start position:0% the<00:17:17.250> deposit<00:17:17.760> with<00:17:18.209> a<00:17:18.240> security<00:17:18.780> deposit<00:17:18.930> and 00:17:19.400 --> 00:17:19.410 align:start position:0% the deposit with a security deposit and 00:17:19.410 --> 00:17:23.410 align:start position:0% the deposit with a security deposit and the<00:17:19.560> registration<00:17:20.280> and<00:17:20.459> you<00:17:21.449> have<00:17:22.010> provable 00:17:23.410 --> 00:17:23.420 align:start position:0% the registration and you have provable 00:17:23.420 --> 00:17:27.510 align:start position:0% the registration and you have provable verifiable 00:17:27.510 --> 00:17:27.520 align:start position:0% 00:17:27.520 --> 00:17:30.549 align:start position:0% wait<00:17:28.520> to<00:17:28.880> tell<00:17:29.120> whether<00:17:29.480> something<00:17:29.990> whether 00:17:30.549 --> 00:17:30.559 align:start position:0% wait to tell whether something whether 00:17:30.559 --> 00:17:32.710 align:start position:0% wait to tell whether something whether whether<00:17:30.980> you<00:17:31.160> misbehaved<00:17:31.730> so<00:17:32.120> it's<00:17:32.360> in<00:17:32.570> this 00:17:32.710 --> 00:17:32.720 align:start position:0% whether you misbehaved so it's in this 00:17:32.720 --> 00:17:34.890 align:start position:0% whether you misbehaved so it's in this case<00:17:32.929> like<00:17:33.200> it's<00:17:33.710> basically 00:17:34.890 --> 00:17:34.900 align:start position:0% case like it's basically 00:17:34.900 --> 00:17:37.950 align:start position:0% case like it's basically expecting<00:17:35.900> your<00:17:36.049> value<00:17:36.320> for<00:17:36.740> custody 00:17:37.950 --> 00:17:37.960 align:start position:0% expecting your value for custody 00:17:37.960 --> 00:17:42.220 align:start position:0% expecting your value for custody you<00:17:38.960> don't<00:17:39.200> have<00:17:39.380> that<00:17:39.730> the<00:17:40.730> judge<00:17:40.940> can<00:17:41.230> say 00:17:42.220 --> 00:17:42.230 align:start position:0% you don't have that the judge can say 00:17:42.230 --> 00:17:45.190 align:start position:0% you don't have that the judge can say that<00:17:42.470> you<00:17:43.000> didn't<00:17:44.000> fulfil<00:17:44.540> your<00:17:44.660> promise<00:17:44.840> and 00:17:45.190 --> 00:17:45.200 align:start position:0% that you didn't fulfil your promise and 00:17:45.200 --> 00:17:47.220 align:start position:0% that you didn't fulfil your promise and therefore<00:17:45.740> the<00:17:45.919> punishment<00:17:46.460> is 00:17:47.220 --> 00:17:47.230 align:start position:0% therefore the punishment is 00:17:47.230 --> 00:17:50.460 align:start position:0% therefore the punishment is there<00:17:48.549> so 00:17:50.460 --> 00:17:50.470 align:start position:0% there so 00:17:50.470 --> 00:17:52.600 align:start position:0% there so there's<00:17:51.470> a<00:17:51.530> lot<00:17:51.650> of<00:17:51.679> details<00:17:52.190> about<00:17:52.309> this 00:17:52.600 --> 00:17:52.610 align:start position:0% there's a lot of details about this 00:17:52.610 --> 00:17:54.909 align:start position:0% there's a lot of details about this system<00:17:53.000> obviously<00:17:53.510> you<00:17:54.230> might<00:17:54.559> have<00:17:54.710> a<00:17:54.770> lot<00:17:54.890> of 00:17:54.909 --> 00:17:54.919 align:start position:0% system obviously you might have a lot of 00:17:54.919 --> 00:17:57.340 align:start position:0% system obviously you might have a lot of questions<00:17:55.400> immediately<00:17:55.640> arising<00:17:56.480> which 00:17:57.340 --> 00:17:57.350 align:start position:0% questions immediately arising which 00:17:57.350 --> 00:17:59.860 align:start position:0% questions immediately arising which relates<00:17:58.160> maybe<00:17:58.490> to<00:17:58.700> the<00:17:58.820> complex<00:17:59.299> you<00:17:59.840> know 00:17:59.860 --> 00:17:59.870 align:start position:0% relates maybe to the complex you know 00:17:59.870 --> 00:18:02.950 align:start position:0% relates maybe to the complex you know economic<00:18:00.470> setting<00:18:00.830> in<00:18:01.070> which<00:18:01.220> like<00:18:01.460> the<00:18:01.960> whole 00:18:02.950 --> 00:18:02.960 align:start position:0% economic setting in which like the whole 00:18:02.960 --> 00:18:05.590 align:start position:0% economic setting in which like the whole system<00:18:03.640> applies<00:18:04.640> these<00:18:04.850> rules<00:18:05.120> like<00:18:05.390> what 00:18:05.590 --> 00:18:05.600 align:start position:0% system applies these rules like what 00:18:05.600 --> 00:18:08.680 align:start position:0% system applies these rules like what kind<00:18:05.840> of<00:18:05.929> emergent<00:18:06.740> properties<00:18:07.280> can<00:18:08.179> occur 00:18:08.680 --> 00:18:08.690 align:start position:0% kind of emergent properties can occur 00:18:08.690 --> 00:18:11.020 align:start position:0% kind of emergent properties can occur and<00:18:08.960> whether<00:18:09.500> they<00:18:09.740> are<00:18:09.770> in<00:18:09.980> line<00:18:10.220> with<00:18:10.250> the 00:18:11.020 --> 00:18:11.030 align:start position:0% and whether they are in line with the 00:18:11.030 --> 00:18:13.390 align:start position:0% and whether they are in line with the intended<00:18:11.450> operation<00:18:12.049> of<00:18:12.140> this<00:18:12.320> network<00:18:12.740> so 00:18:13.390 --> 00:18:13.400 align:start position:0% intended operation of this network so 00:18:13.400 --> 00:18:15.730 align:start position:0% intended operation of this network so some<00:18:13.669> of<00:18:13.700> these<00:18:14.000> are<00:18:14.240> discussed<00:18:15.200> in<00:18:15.440> more 00:18:15.730 --> 00:18:15.740 align:start position:0% some of these are discussed in more 00:18:15.740 --> 00:18:17.740 align:start position:0% some of these are discussed in more telling<00:18:16.250> the<00:18:16.370> truth<00:18:16.610> orange<00:18:16.970> papers<00:18:17.360> that<00:18:17.510> we 00:18:17.740 --> 00:18:17.750 align:start position:0% telling the truth orange papers that we 00:18:17.750 --> 00:18:20.380 align:start position:0% telling the truth orange papers that we released<00:18:18.559> in<00:18:18.770> a<00:18:18.919> bizarre<00:18:19.700> kind<00:18:20.030> of<00:18:20.150> draft 00:18:20.380 --> 00:18:20.390 align:start position:0% released in a bizarre kind of draft 00:18:20.390 --> 00:18:23.669 align:start position:0% released in a bizarre kind of draft versions<00:18:20.750> and<00:18:20.929> we<00:18:21.169> still 00:18:23.669 --> 00:18:23.679 align:start position:0% 00:18:23.679 --> 00:18:27.580 align:start position:0% would<00:18:24.679> like<00:18:24.860> to<00:18:24.919> have<00:18:25.640> some<00:18:26.540> more<00:18:27.290> thorough 00:18:27.580 --> 00:18:27.590 align:start position:0% would like to have some more thorough 00:18:27.590 --> 00:18:29.260 align:start position:0% would like to have some more thorough peer<00:18:27.919> review<00:18:28.460> although<00:18:28.880> a<00:18:28.910> lot<00:18:29.090> of<00:18:29.150> people 00:18:29.260 --> 00:18:29.270 align:start position:0% peer review although a lot of people 00:18:29.270 --> 00:18:31.060 align:start position:0% peer review although a lot of people ready<00:18:29.690> that<00:18:29.990> we<00:18:30.380> would<00:18:30.559> like<00:18:30.740> to<00:18:30.890> have 00:18:31.060 --> 00:18:31.070 align:start position:0% ready that we would like to have 00:18:31.070 --> 00:18:34.830 align:start position:0% ready that we would like to have somewhere<00:18:31.460> in 00:18:34.830 --> 00:18:34.840 align:start position:0% 00:18:34.840 --> 00:18:37.350 align:start position:0% the 00:18:37.350 --> 00:18:37.360 align:start position:0% the 00:18:37.360 --> 00:18:40.299 align:start position:0% the just<00:18:38.360> to<00:18:38.510> just<00:18:38.780> to<00:18:38.840> quickly<00:18:39.140> use<00:18:39.710> my<00:18:39.980> one 00:18:40.299 --> 00:18:40.309 align:start position:0% just to just to quickly use my one 00:18:40.309 --> 00:18:43.060 align:start position:0% just to just to quickly use my one minute<00:18:41.049> maybe<00:18:42.049> you<00:18:42.230> want<00:18:42.410> to<00:18:42.500> hear<00:18:42.710> a<00:18:42.740> little 00:18:43.060 --> 00:18:43.070 align:start position:0% minute maybe you want to hear a little 00:18:43.070 --> 00:18:46.390 align:start position:0% minute maybe you want to hear a little bit<00:18:43.280> about<00:18:43.340> the<00:18:44.120> status<00:18:44.990> of<00:18:45.290> this<00:18:45.440> one<00:18:45.679> because 00:18:46.390 --> 00:18:46.400 align:start position:0% bit about the status of this one because 00:18:46.400 --> 00:18:49.419 align:start position:0% bit about the status of this one because I'm<00:18:47.150> not<00:18:47.210> sure<00:18:47.690> I<00:18:47.750> was<00:18:48.020> very<00:18:48.350> prepared<00:18:48.530> to<00:18:48.890> to 00:18:49.419 --> 00:18:49.429 align:start position:0% I'm not sure I was very prepared to to 00:18:49.429 --> 00:18:51.100 align:start position:0% I'm not sure I was very prepared to to say<00:18:49.580> that<00:18:49.760> in<00:18:49.910> the<00:18:50.059> in<00:18:50.210> the<00:18:50.390> in<00:18:50.780> the<00:18:50.840> first 00:18:51.100 --> 00:18:51.110 align:start position:0% say that in the in the in the first 00:18:51.110 --> 00:18:54.150 align:start position:0% say that in the in the in the first panel<00:18:51.710> so<00:18:52.700> the 00:18:54.150 --> 00:18:54.160 align:start position:0% panel so the 00:18:54.160 --> 00:18:56.650 align:start position:0% panel so the the<00:18:55.160> most<00:18:55.340> important<00:18:55.850> bit<00:18:56.030> that<00:18:56.179> I<00:18:56.330> I<00:18:56.510> left 00:18:56.650 --> 00:18:56.660 align:start position:0% the most important bit that I I left 00:18:56.660 --> 00:18:59.049 align:start position:0% the most important bit that I I left that<00:18:56.840> was<00:18:57.080> that<00:18:57.260> there's<00:18:57.679> the<00:18:58.160> test<00:18:58.400> that<00:18:58.580> I'm 00:18:59.049 --> 00:18:59.059 align:start position:0% that was that there's the test that I'm 00:18:59.059 --> 00:19:03.419 align:start position:0% that was that there's the test that I'm running<00:18:59.330> in<00:19:00.230> which<00:19:00.350> we<00:19:00.530> can<00:19:00.710> actually 00:19:03.419 --> 00:19:03.429 align:start position:0% running in which we can actually 00:19:03.429 --> 00:19:07.060 align:start position:0% running in which we can actually check<00:19:04.429> on<00:19:04.669> on<00:19:04.910> the<00:19:05.179> the<00:19:05.780> largest<00:19:06.380> below<00:19:06.590> like 00:19:07.060 --> 00:19:07.070 align:start position:0% check on on the the largest below like 00:19:07.070 --> 00:19:08.890 align:start position:0% check on on the the largest below like relatively<00:19:07.520> larger<00:19:07.940> scale<00:19:08.210> operation<00:19:08.780> of 00:19:08.890 --> 00:19:08.900 align:start position:0% relatively larger scale operation of 00:19:08.900 --> 00:19:11.919 align:start position:0% relatively larger scale operation of this<00:19:09.530> network<00:19:09.980> and<00:19:10.220> this<00:19:11.210> is<00:19:11.419> this<00:19:11.780> is 00:19:11.919 --> 00:19:11.929 align:start position:0% this network and this is this is 00:19:11.929 --> 00:19:14.049 align:start position:0% this network and this is this is starting<00:19:12.290> on<00:19:12.520> Microsoft<00:19:13.520> edge<00:19:13.640> worked<00:19:13.850> out 00:19:14.049 --> 00:19:14.059 align:start position:0% starting on Microsoft edge worked out 00:19:14.059 --> 00:19:16.720 align:start position:0% starting on Microsoft edge worked out it's<00:19:15.020> going<00:19:15.169> to<00:19:15.230> have<00:19:15.380> my<00:19:15.620> father<00:19:16.100> has<00:19:16.490> not 00:19:16.720 --> 00:19:16.730 align:start position:0% it's going to have my father has not 00:19:16.730 --> 00:19:20.200 align:start position:0% it's going to have my father has not operated<00:19:17.270> by<00:19:17.630> us<00:19:17.780> but<00:19:18.260> once<00:19:18.470> the<00:19:18.770> public<00:19:19.190> is<00:19:19.340> is 00:19:20.200 --> 00:19:20.210 align:start position:0% operated by us but once the public is is 00:19:20.210 --> 00:19:23.590 align:start position:0% operated by us but once the public is is welcome<00:19:21.169> to<00:19:21.320> join<00:19:21.350> then<00:19:22.220> we<00:19:22.400> can<00:19:22.580> grow<00:19:23.270> it<00:19:23.419> up 00:19:23.590 --> 00:19:23.600 align:start position:0% welcome to join then we can grow it up 00:19:23.600 --> 00:19:25.330 align:start position:0% welcome to join then we can grow it up to<00:19:23.750> like<00:19:23.929> you<00:19:24.169> know<00:19:24.290> thousands<00:19:24.679> of<00:19:24.799> nodes<00:19:24.980> if 00:19:25.330 --> 00:19:25.340 align:start position:0% to like you know thousands of nodes if 00:19:25.340 --> 00:19:28.350 align:start position:0% to like you know thousands of nodes if you<00:19:25.700> guys<00:19:25.850> contribute<00:19:26.419> and<00:19:27.160> with<00:19:27.550> welcome 00:19:28.350 --> 00:19:28.360 align:start position:0% you guys contribute and with welcome 00:19:28.360 --> 00:19:31.970 align:start position:0% you guys contribute and with welcome developers<00:19:29.080> to<00:19:29.290> continue<00:19:29.710> today<00:19:29.890> and 00:19:31.970 --> 00:19:31.980 align:start position:0% developers to continue today and 00:19:31.980 --> 00:19:34.440 align:start position:0% developers to continue today and just<00:19:32.980> to<00:19:33.070> conclude<00:19:33.280> like<00:19:33.820> a<00:19:33.850> few<00:19:34.150> links<00:19:34.330> that 00:19:34.440 --> 00:19:34.450 align:start position:0% just to conclude like a few links that 00:19:34.450 --> 00:19:37.770 align:start position:0% just to conclude like a few links that you<00:19:34.690> can<00:19:34.870> visit<00:19:35.200> and<00:19:35.440> I<00:19:36.100> would<00:19:36.850> really<00:19:37.060> happy 00:19:37.770 --> 00:19:37.780 align:start position:0% you can visit and I would really happy 00:19:37.780 --> 00:19:41.040 align:start position:0% you can visit and I would really happy to<00:19:38.100> put<00:19:39.100> with<00:19:39.490> all<00:19:39.730> those<00:19:39.880> names<00:19:40.150> up<00:19:40.780> on<00:19:40.990> the 00:19:41.040 --> 00:19:41.050 align:start position:0% to put with all those names up on the 00:19:41.050 --> 00:19:43.860 align:start position:0% to put with all those names up on the board<00:19:41.410> who<00:19:41.860> contributed<00:19:42.520> to<00:19:42.580> this<00:19:42.870> fantastic 00:19:43.860 --> 00:19:43.870 align:start position:0% board who contributed to this fantastic 00:19:43.870 --> 00:19:45.450 align:start position:0% board who contributed to this fantastic project<00:19:44.050> and<00:19:44.380> I'm<00:19:44.470> very<00:19:44.590> enthusiastic<00:19:45.370> about 00:19:45.450 --> 00:19:45.460 align:start position:0% project and I'm very enthusiastic about 00:19:45.460 --> 00:19:48.570 align:start position:0% project and I'm very enthusiastic about so<00:19:45.910> you<00:19:46.750> will<00:19:46.900> hear<00:19:47.110> a<00:19:47.560> little<00:19:48.010> bit<00:19:48.130> more<00:19:48.310> about 00:19:48.570 --> 00:19:48.580 align:start position:0% so you will hear a little bit more about 00:19:48.580 --> 00:19:52.170 align:start position:0% so you will hear a little bit more about the<00:19:49.120> next<00:19:50.110> stage<00:19:50.410> plans<00:19:50.800> in<00:19:51.190> my<00:19:51.430> second<00:19:51.970> talk 00:19:52.170 --> 00:19:52.180 align:start position:0% the next stage plans in my second talk 00:19:52.180 --> 00:19:54.240 align:start position:0% the next stage plans in my second talk which<00:19:52.570> I<00:19:52.720> give<00:19:52.900> in<00:19:53.110> an<00:19:53.260> hour<00:19:53.710> thank<00:19:54.130> you<00:19:54.220> very 00:19:54.240 --> 00:19:54.250 align:start position:0% which I give in an hour thank you very 00:19:54.250 --> 00:19:54.970 align:start position:0% which I give in an hour thank you very much 00:19:54.970 --> 00:19:54.980 align:start position:0% much 00:19:54.980 --> 00:20:02.590 align:start position:0% much [Applause] 00:20:02.590 --> 00:20:02.600 align:start position:0% 00:20:02.600 --> 00:20:05.910 align:start position:0% [Music]