WEBVTT
Kind: captions
Language: en

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[Applause]

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Dominic<00:00:12.100><c> is</c><00:00:12.130><c> also</c><00:00:12.430><c> fishery</c><00:00:12.700><c> student</c><00:00:13.000><c> in</c><00:00:13.090><c> our</c>

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Dominic is also fishery student in our
 

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Dominic is also fishery student in our
lab<00:00:13.240><c> and</c><00:00:13.630><c> most</c><00:00:14.020><c> of</c><00:00:14.559><c> will</c><00:00:14.680><c> be</c><00:00:14.799><c> here</c><00:00:14.980><c> in</c><00:00:15.070><c> a</c>

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lab and most of will be here in a
 

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lab and most of will be here in a
second<00:00:15.520><c> is</c><00:00:15.700><c> permissive</c><00:00:16.500><c> so</c><00:00:17.580><c> the</c><00:00:18.580><c> work</c><00:00:18.730><c> trip</c><00:00:18.910><c> is</c>

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second is permissive so the work trip is
 

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second is permissive so the work trip is
scheduled<00:00:19.450><c> in</c><00:00:19.720><c> two</c><00:00:20.050><c> parts</c><00:00:20.410><c> we</c><00:00:20.740><c> have</c><00:00:20.920><c> one</c><00:00:21.220><c> part</c>

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scheduled in two parts we have one part
 

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scheduled in two parts we have one part
we<00:00:21.670><c> will</c><00:00:21.790><c> talk</c><00:00:21.849><c> about</c><00:00:22.119><c> trusting</c>

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we will talk about trusting
 

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we will talk about trusting
communication<00:00:23.290><c> the</c><00:00:23.410><c> principal</c><00:00:23.920><c> will</c><00:00:24.160><c> also</c>

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communication the principal will also
 

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communication the principal will also
explain<00:00:24.790><c> why</c><00:00:25.029><c> costume</c><00:00:25.750><c> communication</c><00:00:26.440><c> is</c>

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explain why costume communication is
 

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explain why costume communication is
where<00:00:27.340><c> it's</c><00:00:27.490><c> not</c><00:00:27.670><c> possible</c><00:00:28.240><c> without</c><00:00:28.359><c> a</c>

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where it's not possible without a
 

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where it's not possible without a
trusted<00:00:28.900><c> third</c><00:00:28.930><c> party</c><00:00:29.320><c> and</c><00:00:29.619><c> then</c><00:00:30.550><c> we'll</c><00:00:30.820><c> also</c>

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trusted third party and then we'll also
 

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trusted third party and then we'll also
have<00:00:31.060><c> a</c><00:00:31.210><c> technical</c><00:00:31.689><c> deep</c><00:00:31.869><c> dive</c><00:00:32.080><c> into</c>

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have a technical deep dive into
 

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have a technical deep dive into
Chamberlin<00:00:32.949><c> specifically</c><00:00:33.670><c> to</c><00:00:33.760><c> see</c><00:00:33.940><c> relate</c>

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Chamberlin specifically to see relate
 

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Chamberlin specifically to see relate
and<00:00:34.420><c> then</c><00:00:35.379><c> with</c><00:00:35.500><c> prepared</c><00:00:35.890><c> game</c><00:00:36.190><c> so</c>

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and then with prepared game so
 

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and then with prepared game so
essentially<00:00:37.210><c> if</c><00:00:37.570><c> you</c><00:00:37.809><c> have</c><00:00:37.840><c> ganache</c>

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essentially if you have ganache
 

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essentially if you have ganache
installed<00:00:38.980><c> in</c><00:00:39.070><c> a</c><00:00:39.129><c> laptop</c><00:00:39.519><c> if</c><00:00:39.670><c> not</c><00:00:39.879><c> you</c><00:00:40.059><c> should</c>

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installed in a laptop if not you should
 

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installed in a laptop if not you should
download<00:00:40.360><c> it</c><00:00:40.660><c> now</c><00:00:41.190><c> you</c><00:00:42.190><c> will</c><00:00:42.280><c> get</c><00:00:42.399><c> early</c>

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download it now you will get early
 

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download it now you will get early
broken<00:00:43.270><c> VDC</c><00:00:43.870><c> relay</c><00:00:44.050><c> implementation</c><00:00:44.620><c> and</c><00:00:44.800><c> you</c>

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broken VDC relay implementation and you
 

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broken VDC relay implementation and you
get<00:00:45.040><c> to</c><00:00:45.160><c> fix</c><00:00:45.340><c> small</c><00:00:46.239><c> parts</c><00:00:46.630><c> of</c><00:00:46.750><c> it</c><00:00:46.840><c> and</c><00:00:47.230><c> we'll</c>

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get to fix small parts of it and we'll
 

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get to fix small parts of it and we'll
have<00:00:47.440><c> a</c><00:00:47.500><c> game</c><00:00:47.680><c> sir</c><00:00:47.890><c> which</c><00:00:48.129><c> tests</c><00:00:48.579><c> attacks</c>

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have a game sir which tests attacks
 

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have a game sir which tests attacks
against<00:00:49.420><c> relay</c><00:00:49.750><c> and</c><00:00:49.960><c> then</c><00:00:50.050><c> we'll</c><00:00:50.170><c> have</c><00:00:50.260><c> a</c>

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against relay and then we'll have a
 

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against relay and then we'll have a
leaderboard<00:00:50.770><c> so</c><00:00:53.460><c> this</c><00:00:54.460><c> workshop</c><00:00:54.940><c> is</c><00:00:55.090><c> based</c><00:00:55.360><c> on</c>

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leaderboard so this workshop is based on
 

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leaderboard so this workshop is based on
a<00:00:55.539><c> paper</c><00:00:55.690><c> we</c><00:00:55.960><c> recently</c><00:00:56.230><c> released</c><00:00:56.559><c> so</c><00:00:56.980><c> we</c><00:00:57.070><c> wrote</c>

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a paper we recently released so we wrote
 

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a paper we recently released so we wrote
up<00:00:57.250><c> a</c><00:00:57.460><c> systematization</c><00:00:57.910><c> of</c><00:00:58.239><c> knowledge</c><00:00:58.660><c> on</c>

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up a systematization of knowledge on
 

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up a systematization of knowledge on
across<00:00:59.770><c> your</c><00:00:59.950><c> communication</c><00:01:00.550><c> so</c><00:01:01.120><c> the</c><00:01:01.390><c> tiny</c>

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across your communication so the tiny
 

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across your communication so the tiny
print<00:01:01.870><c> if</c><00:01:01.960><c> you</c><00:01:02.020><c> want</c><00:01:02.199><c> to</c><00:01:02.260><c> have</c><00:01:02.350><c> a</c><00:01:02.410><c> look</c><00:01:02.559><c> at</c><00:01:02.649><c> that</c>

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print if you want to have a look at that
 

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print if you want to have a look at that
I<00:01:03.010><c> won't</c><00:01:03.910><c> be</c><00:01:04.000><c> presenting</c><00:01:04.539><c> everything</c><00:01:04.750><c> because</c>

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I won't be presenting everything because
 

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I won't be presenting everything because
it's<00:01:05.740><c> just</c><00:01:05.890><c> way</c><00:01:06.130><c> too</c><00:01:06.160><c> much</c><00:01:06.340><c> content</c><00:01:07.590><c> but</c><00:01:08.590><c> yeah</c>

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it's just way too much content but yeah
 

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it's just way too much content but yeah
if<00:01:08.860><c> you're</c><00:01:08.979><c> interested</c><00:01:09.430><c> that's</c><00:01:10.030><c> really</c><00:01:12.990><c> so</c><00:01:13.990><c> I</c>

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if you're interested that's really so I
 

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if you're interested that's really so I
mean<00:01:14.680><c> I</c><00:01:14.920><c> guess</c><00:01:15.220><c> we</c><00:01:15.580><c> can</c><00:01:15.760><c> all</c><00:01:15.850><c> agree</c><00:01:16.000><c> on</c><00:01:16.210><c> riot</c><00:01:16.930><c> or</c>

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mean I guess we can all agree on riot or
 

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mean I guess we can all agree on riot or
probability<00:01:17.530><c> is</c><00:01:17.710><c> necessary</c><00:01:18.100><c> but</c><00:01:18.220><c> let</c><00:01:18.400><c> me</c><00:01:18.520><c> just</c>

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probability is necessary but let me just
 

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probability is necessary but let me just
repeat<00:01:18.880><c> it</c><00:01:19.619><c> today</c><00:01:20.619><c> there</c><00:01:20.799><c> exist</c><00:01:21.010><c> over</c><00:01:21.220><c> 2000</c>

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repeat it today there exist over 2000
 

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repeat it today there exist over 2000
cryptocurrencies<00:01:22.180><c> and</c><00:01:22.750><c> I</c><00:01:23.049><c> think</c><00:01:23.260><c> we</c><00:01:23.350><c> can</c>

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cryptocurrencies and I think we can
 

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cryptocurrencies and I think we can
agree<00:01:23.680><c> that</c><00:01:23.860><c> most</c><00:01:24.040><c> of</c><00:01:24.220><c> them</c><00:01:24.340><c> different</c><00:01:24.700><c> design</c>

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agree that most of them different design
 

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agree that most of them different design
purpose<00:01:25.360><c> not</c><00:01:26.049><c> only</c><00:01:26.520><c> functionality</c><00:01:27.520><c> but</c><00:01:27.640><c> also</c>

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purpose not only functionality but also
 

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purpose not only functionality but also
the<00:01:28.030><c> different</c><00:01:28.420><c> views</c><00:01:28.540><c> of</c><00:01:28.659><c> the</c><00:01:28.720><c> community</c><00:01:29.140><c> of</c>

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the different views of the community of
 

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the different views of the community of
how<00:01:29.380><c> this</c><00:01:29.650><c> thing</c><00:01:29.710><c> should</c><00:01:29.890><c> be</c><00:01:30.040><c> used</c><00:01:30.479><c> so</c><00:01:31.479><c> we</c><00:01:31.840><c> kind</c>

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how this thing should be used so we kind
 

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how this thing should be used so we kind
of<00:01:32.170><c> need</c><00:01:32.350><c> a</c><00:01:32.380><c> way</c><00:01:32.560><c> to</c><00:01:32.590><c> find</c><00:01:33.630><c> have</c><00:01:34.630><c> to</c>

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of need a way to find have to
 

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of need a way to find have to
communicate<00:01:35.380><c> between</c><00:01:35.470><c> this</c><00:01:35.830><c> different</c><00:01:36.100><c> block</c>

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communicate between this different block
 

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communicate between this different block
channels<00:01:36.610><c> because</c><00:01:36.909><c> it's</c><00:01:37.420><c> very</c><00:01:37.600><c> unlikely</c><00:01:38.020><c> that</c>

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channels because it's very unlikely that
 

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channels because it's very unlikely that
would<00:01:38.380><c> be</c><00:01:38.470><c> one</c><00:01:38.680><c> change</c><00:01:38.979><c> in</c><00:01:39.130><c> the</c><00:01:39.220><c> other</c><00:01:39.369><c> one</c><00:01:40.710><c> now</c>

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would be one change in the other one now
 

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would be one change in the other one now
historically<00:01:42.729><c> seen</c><00:01:43.200><c> crossing</c><00:01:44.200><c> communication</c>

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historically seen crossing communication
 

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historically seen crossing communication
the<00:01:45.159><c> principles</c><00:01:45.700><c> of</c><00:01:45.820><c> crushing</c><00:01:46.180><c> communication</c>

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the principles of crushing communication
 

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the principles of crushing communication
date<00:01:46.930><c> back</c><00:01:47.200><c> to</c><00:01:47.229><c> communications</c><00:01:48.009><c> across</c>

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date back to communications across
 

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date back to communications across
disparate<00:01:48.759><c> databases</c><00:01:49.110><c> however</c><00:01:50.110><c> the</c><00:01:50.500><c> main</c>

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disparate databases however the main
 

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disparate databases however the main
difference<00:01:51.189><c> here</c><00:01:51.250><c> is</c><00:01:51.520><c> that</c><00:01:51.549><c> databases</c>

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difference here is that databases
 

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difference here is that databases
specifically<00:01:53.890><c> within</c><00:01:54.189><c> us</c><00:01:54.399><c> within</c><00:01:54.759><c> a</c><00:01:54.939><c> single</c>

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specifically within us within a single
 

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specifically within us within a single
data<00:01:55.420><c> center</c><00:01:55.840><c> you</c><00:01:56.229><c> don't</c><00:01:56.439><c> expect</c><00:01:56.560><c> bit</c><00:01:57.369><c> Centene</c>

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data center you don't expect bit Centene
 

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data center you don't expect bit Centene
rather<00:01:57.970><c> bizarre</c><00:01:58.299><c> behavior</c><00:01:58.840><c> right</c><00:01:59.049><c> you</c><00:01:59.439><c> soon</c>

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rather bizarre behavior right you soon
 

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rather bizarre behavior right you soon
that<00:01:59.799><c> everyone's</c><00:02:00.130><c> honest</c><00:02:00.490><c> you're</c><00:02:00.610><c> a</c><00:02:00.700><c> single</c>

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that everyone's honest you're a single
 

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that everyone's honest you're a single
admin<00:02:01.479><c> and</c><00:02:02.170><c> the</c><00:02:02.290><c> only</c><00:02:02.439><c> thing</c><00:02:02.649><c> that</c><00:02:02.799><c> can</c><00:02:02.890><c> happen</c>

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admin and the only thing that can happen
 

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admin and the only thing that can happen
to<00:02:03.430><c> your</c><00:02:03.549><c> processes</c><00:02:04.060><c> which</c><00:02:04.240><c> push</c><00:02:04.540><c> and</c><00:02:04.750><c> pull</c>

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to your processes which push and pull
 

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to your processes which push and pull
data<00:02:05.320><c> from</c><00:02:05.470><c> the</c><00:02:05.649><c> databases</c><00:02:06.250><c> they</c><00:02:06.729><c> can</c><00:02:06.909><c> crash</c>

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data from the databases they can crash
 

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data from the databases they can crash
so<00:02:08.560><c> basically</c><00:02:09.459><c> not</c><00:02:09.729><c> like</c><00:02:10.000><c> non-blocking</c>

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so basically not like non-blocking
 

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so basically not like non-blocking
atomic<00:02:11.290><c> commit</c><00:02:11.590><c> is</c><00:02:11.860><c> a</c><00:02:12.370><c> way</c><00:02:13.000><c> because</c><00:02:13.270><c> it</c>

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atomic commit is a way because it
 

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atomic commit is a way because it
basically<00:02:13.540><c> is</c><00:02:13.900><c> a</c><00:02:13.930><c> problem</c><00:02:14.349><c> and</c><00:02:14.500><c> they're</c>

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basically is a problem and they're
 

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basically is a problem and they're
solutions<00:02:15.040><c> for</c><00:02:15.220><c> that</c><00:02:15.310><c> and</c><00:02:15.640><c> the</c><00:02:16.209><c> problem</c><00:02:16.569><c> is</c>

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solutions for that and the problem is
 

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solutions for that and the problem is
that<00:02:16.720><c> you</c><00:02:17.020><c> want</c><00:02:17.230><c> to</c><00:02:17.319><c> make</c><00:02:17.470><c> sure</c><00:02:17.709><c> that</c><00:02:17.890><c> your</c>

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that you want to make sure that your
 

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that you want to make sure that your
process<00:02:19.090><c> that</c><00:02:19.420><c> is</c><00:02:19.540><c> running</c><00:02:19.930><c> correctly</c><00:02:20.200><c> does</c>

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process that is running correctly does
 

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process that is running correctly does
not<00:02:20.739><c> fail</c><00:02:21.160><c> and</c><00:02:21.610><c> does</c><00:02:21.940><c> not</c><00:02:22.090><c> get</c><00:02:22.269><c> stuck</c><00:02:22.540><c> even</c><00:02:22.810><c> if</c>

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not fail and does not get stuck even if
 

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not fail and does not get stuck even if
other<00:02:23.260><c> processes</c><00:02:23.860><c> crashed</c><00:02:24.660><c> now</c><00:02:25.660><c> in</c><00:02:26.200><c> despair</c>

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other processes crashed now in despair
 

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other processes crashed now in despair
Ledger's<00:02:27.250><c> and</c><00:02:27.489><c> watching</c><00:02:27.849><c> specifically</c><00:02:28.480><c> the</c>

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Ledger's and watching specifically the
 

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Ledger's and watching specifically the
difference<00:02:29.349><c> is</c><00:02:29.709><c> that</c><00:02:29.860><c> we</c><00:02:30.010><c> actually</c><00:02:30.370><c> expect</c>

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difference is that we actually expect
 

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difference is that we actually expect
participants<00:02:31.450><c> to</c><00:02:31.540><c> misbehave</c><00:02:31.810><c> correct</c><00:02:32.319><c> we</c><00:02:32.380><c> can</c>

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participants to misbehave correct we can
 

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participants to misbehave correct we can
of<00:02:32.709><c> selfish</c><00:02:33.340><c> -</c><00:02:33.580><c> we</c><00:02:33.880><c> can</c><00:02:34.030><c> have</c><00:02:34.150><c> people</c><00:02:34.300><c> who</c><00:02:34.510><c> try</c>

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of selfish - we can have people who try
 

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of selfish - we can have people who try
to<00:02:34.750><c> double</c><00:02:35.050><c> spend</c><00:02:35.319><c> and</c><00:02:35.620><c> just</c><00:02:36.310><c> attack</c><00:02:36.549><c> the</c>

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to double spend and just attack the
 

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to double spend and just attack the
protocol<00:02:37.000><c> because</c><00:02:37.390><c> anyone</c><00:02:37.780><c> can</c><00:02:37.900><c> join</c><00:02:38.110><c> the</c>

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protocol because anyone can join the
 

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protocol because anyone can join the
system<00:02:38.380><c> and</c><00:02:39.090><c> this</c><00:02:40.090><c> is</c><00:02:40.150><c> basically</c><00:02:40.600><c> the</c><00:02:40.810><c> major</c>

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system and this is basically the major
 

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system and this is basically the major
difference<00:02:41.500><c> between</c><00:02:41.799><c> these</c><00:02:41.920><c> two</c><00:02:42.100><c> things</c><00:02:42.310><c> so</c>

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if<00:02:46.569><c> you</c><00:02:46.750><c> briefly</c><00:02:47.110><c> talk</c><00:02:47.530><c> about</c><00:02:47.560><c> the</c><00:02:47.980><c> main</c>

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if you briefly talk about the main
 

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if you briefly talk about the main
scenarios<00:02:48.700><c> of</c><00:02:48.819><c> cross</c><00:02:49.030><c> change</c><00:02:49.239><c> into</c>

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scenarios of cross change into
 

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scenarios of cross change into
nationality<00:02:50.140><c> if</c><00:02:50.530><c> we're</c><00:02:50.650><c> talking</c><00:02:50.739><c> about</c><00:02:50.890><c> the</c>

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nationality if we're talking about the
 

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nationality if we're talking about the
main<00:02:51.190><c> scenarios</c><00:02:51.549><c> of</c><00:02:51.670><c> prostration</c>

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main scenarios of prostration
 

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main scenarios of prostration
communication<00:02:52.690><c> I</c><00:02:52.870><c> guess</c><00:02:53.290><c> the</c><00:02:53.530><c> one</c><00:02:53.680><c> that</c>

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communication I guess the one that
 

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communication I guess the one that
everyone<00:02:54.250><c> knows</c><00:02:54.400><c> about</c><00:02:54.430><c> is</c><00:02:54.849><c> exchange</c><00:02:55.390><c> of</c>

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everyone knows about is exchange of
 

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everyone knows about is exchange of
assets<00:02:55.900><c> right</c><00:02:56.160><c> swapping</c><00:02:57.160><c> coins</c><00:02:57.549><c> against</c><00:02:57.940><c> each</c>

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assets right swapping coins against each
 

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assets right swapping coins against each
other<00:02:58.269><c> and</c><00:02:58.420><c> also</c><00:02:58.569><c> trying</c><00:02:58.959><c> to</c><00:02:59.140><c> transfer</c><00:02:59.530><c> coins</c>

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other and also trying to transfer coins
 

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other and also trying to transfer coins
from<00:03:00.010><c> one</c><00:03:00.190><c> chain</c><00:03:00.459><c> to</c><00:03:00.610><c> the</c><00:03:00.730><c> other</c><00:03:00.760><c> right</c><00:03:01.060><c> making</c>

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from one chain to the other right making
 

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from one chain to the other right making
a<00:03:01.540><c> payment</c><00:03:01.780><c> to</c><00:03:02.500><c> merchants</c><00:03:02.920><c> who</c><00:03:02.980><c> may</c><00:03:03.130><c> be</c><00:03:03.190><c> only</c>

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a payment to merchants who may be only
 

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a payment to merchants who may be only
accepts<00:03:03.760><c> aetherium</c><00:03:04.209><c> and</c><00:03:04.420><c> you're</c><00:03:04.810><c> only</c><00:03:05.019><c> am</c>

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accepts aetherium and you're only am
 

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accepts aetherium and you're only am
different<00:03:05.620><c> now</c><00:03:06.580><c> there</c><00:03:07.150><c> we</c><00:03:07.329><c> have</c><00:03:07.510><c> atomic</c><00:03:07.810><c> swaps</c>

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different now there we have atomic swaps
 

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different now there we have atomic swaps
who<00:03:08.380><c> also</c><00:03:08.500><c> have</c><00:03:08.709><c> the</c><00:03:08.799><c> console</c><00:03:09.130><c> integrated</c>

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who also have the console integrated
 

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who also have the console integrated
assets<00:03:10.299><c> we'll</c><00:03:10.510><c> talk</c><00:03:10.690><c> about</c><00:03:10.840><c> this</c><00:03:11.140><c> -</c><00:03:11.350><c> imitative</c>

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assets we'll talk about this - imitative
 

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assets we'll talk about this - imitative
anime<00:03:12.459><c> now</c><00:03:13.120><c> another</c><00:03:13.480><c> very</c><00:03:13.810><c> important</c><00:03:14.320><c> thing</c>

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anime now another very important thing
 

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anime now another very important thing
work<00:03:15.010><c> so</c><00:03:15.489><c> now</c><00:03:15.760><c> you're</c><00:03:15.940><c> across</c><00:03:16.209><c> communication</c>

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work so now you're across communication
 

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work so now you're across communication
occurs<00:03:17.200><c> is</c><00:03:17.549><c> synchronization</c><00:03:18.549><c> estrada</c>

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occurs is synchronization estrada
 

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occurs is synchronization estrada
systems<00:03:19.500><c> specifically</c><00:03:20.500><c> that</c><00:03:20.859><c> you're</c>

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systems specifically that you're
 

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systems specifically that you're
charting<00:03:21.370><c> is</c><00:03:21.609><c> that</c><00:03:21.819><c> you</c><00:03:21.940><c> separate</c><00:03:22.450><c> the</c><00:03:22.600><c> state</c>

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charting is that you separate the state
 

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charting is that you separate the state
of<00:03:23.049><c> a</c><00:03:23.109><c> system</c><00:03:23.319><c> and</c><00:03:23.739><c> each</c><00:03:24.160><c> charter</c><00:03:24.519><c> responsible</c>

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of a system and each charter responsible
 

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of a system and each charter responsible
to<00:03:25.390><c> make</c><00:03:25.540><c> to</c><00:03:25.900><c> maintain</c><00:03:26.260><c> and</c><00:03:26.470><c> secure</c><00:03:26.739><c> the</c>

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to make to maintain and secure the
 

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to make to maintain and secure the
states<00:03:27.130><c> or</c><00:03:27.519><c> a</c><00:03:27.579><c> subset</c><00:03:28.060><c> of</c><00:03:28.180><c> the</c><00:03:28.299><c> state</c><00:03:28.540><c> now</c><00:03:29.380><c> the</c>

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states or a subset of the state now the
 

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states or a subset of the state now the
problem<00:03:29.859><c> is</c><00:03:29.980><c> this</c><00:03:30.459><c> only</c><00:03:30.700><c> makes</c><00:03:30.940><c> sense</c><00:03:31.209><c> if</c><00:03:31.420><c> you</c>

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problem is this only makes sense if you
 

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problem is this only makes sense if you
can<00:03:31.600><c> actually</c><00:03:31.900><c> communicate</c><00:03:32.109><c> between</c><00:03:32.560><c> these</c>

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can actually communicate between these
 

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can actually communicate between these
charge<00:03:33.130><c> because</c><00:03:33.489><c> otherwise</c><00:03:33.730><c> your</c><00:03:34.030><c> system</c><00:03:34.420><c> of</c>

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charge because otherwise your system of
 

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charge because otherwise your system of
isolated<00:03:35.079><c> shards</c><00:03:35.440><c> and</c><00:03:35.730><c> then</c><00:03:36.730><c> it's</c><00:03:36.850><c> a</c><00:03:36.910><c> recharge</c>

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so<00:03:40.120><c> we'll</c><00:03:40.240><c> talk</c><00:03:40.420><c> about</c><00:03:40.720><c> the</c><00:03:40.840><c> differences</c><00:03:41.320><c> in</c>

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so we'll talk about the differences in
 

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so we'll talk about the differences in
the<00:03:41.560><c> different</c><00:03:41.770><c> hues</c><00:03:42.070><c> consensus</c><00:03:42.820><c> between</c>

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the different hues consensus between
 

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the different hues consensus between
shrugging<00:03:43.360><c> and</c><00:03:43.600><c> crushing</c><00:03:44.110><c> transfers</c><00:03:45.040><c> belayer</c>

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shrugging and crushing transfers belayer
 

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shrugging and crushing transfers belayer
now<00:03:46.830><c> what</c><00:03:47.830><c> I</c><00:03:47.860><c> think</c><00:03:48.220><c> not</c><00:03:48.430><c> many</c><00:03:48.670><c> people</c><00:03:48.820><c> know</c><00:03:49.090><c> is</c>

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now what I think not many people know is
 

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now what I think not many people know is
that<00:03:49.360><c> cross</c><00:03:49.540><c> gene</c><00:03:49.720><c> communication</c><00:03:50.350><c> was</c>

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that cross gene communication was
 

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that cross gene communication was
actually<00:03:51.220><c> the</c><00:03:51.640><c> first</c><00:03:51.820><c> time</c><00:03:51.940><c> implemented</c><00:03:52.720><c> to</c>

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actually the first time implemented to
 

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actually the first time implemented to
use<00:03:53.050><c> something</c><00:03:53.500><c> else</c><00:03:53.910><c> specifically</c><00:03:54.910><c> it</c><00:03:55.540><c> was</c>

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use something else specifically it was
 

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use something else specifically it was
used<00:03:55.960><c> to</c><00:03:56.110><c> introduce</c><00:03:56.800><c> merge</c><00:03:57.280><c> might</c><00:03:57.580><c> and</c><00:03:57.940><c> that's</c>

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used to introduce merge might and that's
 

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used to introduce merge might and that's
basically<00:03:58.840><c> food</c><00:03:59.140><c> shopping</c><00:03:59.470><c> technique</c><00:03:59.830><c> to</c>

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basically food shopping technique to
 

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basically food shopping technique to
largely<00:04:00.280><c> object</c><00:04:00.880><c> and</c><00:04:01.330><c> then</c><00:04:01.480><c> give</c><00:04:01.660><c> theories</c>

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largely object and then give theories
 

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largely object and then give theories
that<00:04:02.140><c> you</c><00:04:02.230><c> have</c><00:04:02.350><c> one</c><00:04:02.530><c> parent</c><00:04:02.890><c> chain</c><00:04:03.130><c> and</c><00:04:03.370><c> you</c>

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that you have one parent chain and you
 

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that you have one parent chain and you
allow<00:04:03.910><c> minors</c><00:04:04.240><c> to</c><00:04:04.450><c> reuse</c><00:04:04.900><c> the</c><00:04:05.050><c> true</c><00:04:05.230><c> for</c><00:04:05.380><c> group</c>

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allow minors to reuse the true for group
 

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allow minors to reuse the true for group
solutions<00:04:06.010><c> from</c><00:04:06.100><c> the</c><00:04:06.190><c> parent</c><00:04:06.580><c> chain</c><00:04:06.760><c> for</c>

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solutions from the parent chain for
 

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solutions from the parent chain for
example<00:04:06.940><c> Bitcoin</c><00:04:07.630><c> to</c><00:04:08.230><c> create</c><00:04:08.590><c> lots</c><00:04:08.980><c> and</c><00:04:09.220><c> other</c>

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example Bitcoin to create lots and other
 

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example Bitcoin to create lots and other
options<00:04:09.850><c> like</c><00:04:09.970><c> name</c><00:04:10.210><c> and</c><00:04:10.990><c> essentially</c><00:04:11.500><c> there</c>

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options like name and essentially there
 

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options like name and essentially there
that<00:04:12.250><c> means</c><00:04:12.400><c> that</c><00:04:12.820><c> name</c><00:04:13.030><c> when</c><00:04:13.270><c> can</c><00:04:13.600><c> use</c><00:04:13.810><c> the</c>

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that means that name when can use the
 

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that means that name when can use the
security<00:04:14.350><c> assumptions</c><00:04:14.860><c> of</c><00:04:14.950><c> Bitcoin</c><00:04:15.340><c> but</c><00:04:15.820><c> it</c>

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security assumptions of Bitcoin but it
 

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security assumptions of Bitcoin but it
also<00:04:16.060><c> becomes</c><00:04:16.360><c> dependent</c><00:04:16.720><c> because</c><00:04:17.230><c> the</c>

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also becomes dependent because the
 

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also becomes dependent because the
fitment<00:04:17.530><c> bills</c>

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fitment bills
 

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fitment bills
so<00:04:18.400><c> does</c><00:04:18.549><c> name</c><00:04:18.760><c> because</c><00:04:19.180><c> it</c><00:04:19.299><c> uses</c><00:04:19.450><c> the</c><00:04:19.630><c> same</c>

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so does name because it uses the same
 

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so does name because it uses the same
and<00:04:22.140><c> finally</c><00:04:23.140><c> and</c><00:04:23.440><c> this</c><00:04:23.470><c> is</c><00:04:24.070><c> the</c><00:04:24.220><c> train</c>

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and finally and this is the train
 

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and finally and this is the train
recovery<00:04:24.910><c> this</c><00:04:25.030><c> bit</c><00:04:25.180><c> more</c><00:04:25.420><c> in</c><00:04:25.570><c> the</c><00:04:25.660><c> paper</c>

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recovery this bit more in the paper
 

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recovery this bit more in the paper
there<00:04:26.950><c> is</c><00:04:27.070><c> his</c><00:04:27.220><c> term</c><00:04:27.400><c> of</c><00:04:27.430><c> site</c><00:04:27.790><c> chance</c><00:04:28.090><c> now</c>

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there is his term of site chance now
 

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there is his term of site chance now
this<00:04:29.020><c> factor</c><00:04:29.200><c> to</c><00:04:29.470><c> see</c><00:04:29.620><c> many</c><00:04:29.890><c> many</c><00:04:30.100><c> different</c>

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this factor to see many many different
 

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this factor to see many many different
definitions<00:04:30.880><c> of</c><00:04:30.970><c> it</c><00:04:31.150><c> over</c><00:04:31.480><c> the</c><00:04:31.600><c> years</c><00:04:31.630><c> and</c>

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definitions of it over the years and
 

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definitions of it over the years and
it's<00:04:32.080><c> have</c><00:04:32.260><c> become</c><00:04:32.530><c> an</c><00:04:32.620><c> umbrella</c><00:04:32.950><c> term</c><00:04:33.190><c> for</c>

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it's have become an umbrella term for
 

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it's have become an umbrella term for
block<00:04:34.000><c> change</c><00:04:34.240><c> of</c><00:04:34.360><c> ability</c><00:04:34.780><c> general</c><00:04:35.020><c> and</c><00:04:35.920><c> I</c>

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block change of ability general and I
 

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block change of ability general and I
guess<00:04:36.940><c> the</c><00:04:37.090><c> most</c><00:04:37.300><c> famous</c><00:04:37.420><c> to</c><00:04:37.990><c> that</c><00:04:38.290><c> we</c><00:04:38.710><c> have</c>

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guess the most famous to that we have
 

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guess the most famous to that we have
seen<00:04:39.010><c> his</c><00:04:39.250><c> side</c><00:04:39.820><c> chains</c><00:04:40.120><c> are</c><00:04:40.450><c> an</c><00:04:40.990><c> approach</c><00:04:41.320><c> to</c>

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seen his side chains are an approach to
 

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seen his side chains are an approach to
extend<00:04:42.070><c> functionality</c><00:04:42.250><c> of</c><00:04:42.820><c> a</c><00:04:42.940><c> one</c><00:04:43.120><c> block</c>

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extend functionality of a one block
 

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extend functionality of a one block
chain<00:04:43.660><c> which</c><00:04:43.900><c> becomes</c><00:04:44.230><c> a</c><00:04:44.320><c> parent</c><00:04:44.500><c> chain</c><00:04:44.860><c> and</c>

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chain which becomes a parent chain and
 

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chain which becomes a parent chain and
you<00:04:45.520><c> have</c><00:04:45.640><c> small</c><00:04:45.970><c> options</c><00:04:46.510><c> on</c><00:04:46.660><c> the</c><00:04:46.750><c> side</c><00:04:46.990><c> which</c>

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you have small options on the side which
 

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you have small options on the side which
are<00:04:47.530><c> dependent</c><00:04:47.800><c> on</c><00:04:48.010><c> the</c><00:04:48.100><c> security</c><00:04:48.460><c> model</c><00:04:48.640><c> of</c>

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are dependent on the security model of
 

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are dependent on the security model of
the<00:04:48.880><c> package</c><00:04:49.350><c> but</c><00:04:50.350><c> the</c><00:04:50.560><c> other</c><00:04:50.830><c> definitions</c>

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the package but the other definitions
 

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the package but the other definitions
and<00:04:51.820><c> also</c><00:04:52.090><c> quite</c><00:04:52.330><c> famous</c><00:04:52.690><c> one</c><00:04:52.840><c> specifically</c>

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and also quite famous one specifically
 

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and also quite famous one specifically
in<00:04:53.470><c> academia</c><00:04:53.770><c> which</c><00:04:54.430><c> suggested</c><00:04:54.940><c> side</c><00:04:55.210><c> chains</c>

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in academia which suggested side chains
 

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in academia which suggested side chains
basically<00:04:56.500><c> referred</c><00:04:56.830><c> to</c><00:04:57.010><c> one</c><00:04:57.340><c> block</c><00:04:57.610><c> to</c>

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basically referred to one block to
 

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basically referred to one block to
verify<00:04:58.210><c> mistake</c><00:04:58.540><c> of</c><00:04:58.690><c> the</c><00:04:58.780><c> other</c><00:04:58.960><c> now</c><00:04:59.680><c> in</c><00:04:59.800><c> the</c>

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verify mistake of the other now in the
 

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verify mistake of the other now in the
paper<00:05:00.040><c> would</c><00:05:00.190><c> try</c><00:05:00.370><c> to</c><00:05:00.430><c> clarify</c><00:05:00.700><c> this</c><00:05:01.090><c> and</c><00:05:01.540><c> we</c>

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paper would try to clarify this and we
 

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paper would try to clarify this and we
try<00:05:02.260><c> to</c><00:05:02.320><c> not</c><00:05:02.530><c> to</c><00:05:02.710><c> use</c><00:05:02.830><c> this</c><00:05:02.980><c> throw</c><00:05:03.190><c> at</c><00:05:03.340><c> all</c>

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try to not to use this throw at all
 

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try to not to use this throw at all
because<00:05:03.610><c> it's</c><00:05:04.360><c> very</c><00:05:04.540><c> confusing</c><00:05:04.870><c> to</c><00:05:05.470><c> check</c><00:05:06.960><c> so</c>

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because it's very confusing to check so
 

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because it's very confusing to check so
again<00:05:08.200><c> we'll</c><00:05:08.410><c> talk</c><00:05:08.650><c> about</c><00:05:08.770><c> these</c><00:05:09.070><c> two</c><00:05:09.310><c> things</c>

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again we'll talk about these two things
 

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again we'll talk about these two things
are<00:05:09.610><c> working</c><00:05:09.790><c> in</c><00:05:10.000><c> more</c><00:05:10.090><c> detail</c><00:05:10.390><c> today</c><00:05:11.970><c> now</c>

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are working in more detail today now
 

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are working in more detail today now
maybe<00:05:13.690><c> a</c><00:05:13.780><c> question</c><00:05:13.960><c> to</c><00:05:14.260><c> the</c><00:05:14.290><c> audience</c><00:05:14.410><c> how</c>

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maybe a question to the audience how
 

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maybe a question to the audience how
many<00:05:14.950><c> of</c><00:05:15.190><c> you</c><00:05:15.340><c> think</c><00:05:15.550><c> that</c><00:05:15.670><c> cross</c><00:05:16.480><c> chain</c>

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many of you think that cross chain
 

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many of you think that cross chain
communication<00:05:17.260><c> is</c><00:05:17.350><c> possible</c><00:05:17.650><c> and</c><00:05:18.130><c> trustless</c>

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communication is possible and trustless
 

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communication is possible and trustless
matter

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okay<00:05:22.009><c> if</c><00:05:22.490><c> you've</c><00:05:22.699><c> seen</c><00:05:22.849><c> our</c><00:05:22.940><c> to</c><00:05:23.090><c> be</c><00:05:23.180><c> 34</c><00:05:23.569><c> okay</c><00:05:23.949><c> so</c>

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okay if you've seen our to be 34 okay so
 

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okay if you've seen our to be 34 okay so
the<00:05:25.280><c> answer</c><00:05:25.310><c> is</c><00:05:25.520><c> none</c><00:05:25.759><c> and</c><00:05:26.150><c> I'll</c><00:05:27.080><c> try</c><00:05:27.289><c> to</c>

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the answer is none and I'll try to
 

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the answer is none and I'll try to
explain<00:05:27.470><c> why</c><00:05:27.919><c> this</c><00:05:27.979><c> is</c><00:05:28.129><c> the</c><00:05:28.340><c> concern</c><00:05:28.699><c> but</c>

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explain why this is the concern but
 

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explain why this is the concern but
before<00:05:30.620><c> being</c><00:05:30.860><c> a</c><00:05:30.949><c> being</c><00:05:31.280><c> epidemics</c><00:05:31.849><c> you</c><00:05:31.909><c> know</c>

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before being a being epidemics you know
 

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before being a being epidemics you know
before<00:05:32.360><c> we</c><00:05:32.479><c> explain</c><00:05:32.750><c> something</c><00:05:33.139><c> we</c><00:05:33.229><c> always</c>

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before we explain something we always
 

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before we explain something we always
have<00:05:33.440><c> to</c><00:05:33.590><c> make</c><00:05:33.770><c> a</c><00:05:33.830><c> system</c><00:05:34.129><c> you</c><00:05:34.849><c> know</c><00:05:34.940><c> to</c><00:05:35.000><c> be</c>

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have to make a system you know to be
 

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have to make a system you know to be
sure<00:05:35.360><c> that</c><00:05:35.539><c> we</c><00:05:35.659><c> cover</c><00:05:35.900><c> all</c><00:05:36.020><c> cases</c><00:05:36.590><c> and</c><00:05:36.800><c> that</c><00:05:37.069><c> we</c>

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sure that we cover all cases and that we
 

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sure that we cover all cases and that we
understand<00:05:37.639><c> what</c><00:05:37.789><c> we're</c><00:05:37.849><c> talking</c><00:05:38.000><c> about</c>

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understand what we're talking about
 

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understand what we're talking about
so<00:05:39.379><c> in</c><00:05:39.470><c> cross-chain</c><00:05:40.009><c> communication</c><00:05:40.759><c> we</c><00:05:41.000><c> for</c>

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so in cross-chain communication we for
 

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so in cross-chain communication we for
simplicity<00:05:42.139><c> assume</c><00:05:42.440><c> that</c><00:05:42.770><c> we</c><00:05:42.830><c> have</c><00:05:42.860><c> two</c>

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simplicity assume that we have two
 

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simplicity assume that we have two
different<00:05:43.099><c> lectures</c><00:05:43.699><c> right</c><00:05:43.909><c> in</c><00:05:44.539><c> this</c><00:05:44.690><c> case</c>

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different lectures right in this case
 

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different lectures right in this case
bit<00:05:45.169><c> kinetic</c><00:05:45.560><c> theory</c><00:05:46.300><c> now</c><00:05:47.300><c> we</c><00:05:47.659><c> also</c><00:05:47.840><c> have</c><00:05:47.990><c> two</c>

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bit kinetic theory now we also have two
 

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bit kinetic theory now we also have two
parties<00:05:48.560><c> or</c><00:05:48.770><c> processes</c><00:05:49.400><c> as</c><00:05:49.580><c> in</c><00:05:49.789><c> dispute</c>

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parties or processes as in dispute
 

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parties or processes as in dispute
assistance<00:05:50.569><c> with</c><00:05:50.750><c> Alice</c><00:05:51.199><c> on</c><00:05:51.440><c> Bitcoin</c><00:05:51.889><c> and</c><00:05:52.069><c> Bob</c>

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assistance with Alice on Bitcoin and Bob
 

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assistance with Alice on Bitcoin and Bob
with<00:05:52.550><c> you</c><00:05:52.699><c> on</c><00:05:53.710><c> now</c><00:05:54.710><c> now</c><00:05:55.190><c> let's</c><00:05:55.370><c> assume</c><00:05:55.550><c> we</c><00:05:55.669><c> have</c>

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with you on now now let's assume we have
 

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with you on now now let's assume we have
two<00:05:55.909><c> transactions</c><00:05:56.539><c> right</c><00:05:56.750><c> transaction</c><00:05:57.590><c> what</c>

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two transactions right transaction what
 

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two transactions right transaction what
the<00:05:57.979><c> blue</c><00:05:58.159><c> one</c><00:05:58.370><c> is</c><00:05:58.759><c> all</c><00:05:59.000><c> day</c><00:05:59.210><c> out</c><00:05:59.360><c> so</c><00:05:59.690><c> she</c><00:06:00.319><c> can</c>

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the blue one is all day out so she can
 

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the blue one is all day out so she can
push<00:06:00.740><c> it</c><00:06:00.889><c> to</c><00:06:00.919><c> the</c><00:06:01.099><c> box</c><00:06:01.280><c> and</c><00:06:02.440><c> since</c><00:06:03.440><c> actually</c>

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push it to the box and since actually
 

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push it to the box and since actually
two<00:06:03.860><c> is</c><00:06:03.979><c> owned</c><00:06:04.129><c> by</c><00:06:04.159><c> God</c>

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two is owned by God
 

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two is owned by God
now<00:06:05.000><c> transaction</c><00:06:05.629><c> one</c><00:06:05.810><c> is</c><00:06:05.930><c> a</c><00:06:05.960><c> Bitcoin</c>

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now transaction one is a Bitcoin
 

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now transaction one is a Bitcoin
transaction<00:06:06.800><c> it</c><00:06:06.889><c> can</c><00:06:07.039><c> only</c><00:06:07.129><c> go</c><00:06:07.370><c> into</c><00:06:07.520><c> the</c>

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transaction it can only go into the
 

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transaction it can only go into the
physical<00:06:07.969><c> monitor</c><00:06:08.360><c> as</c><00:06:08.990><c> action</c><00:06:09.319><c> to</c><00:06:09.500><c> is</c><00:06:09.620><c> valid</c>

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physical monitor as action to is valid
 

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physical monitor as action to is valid
and<00:06:10.039><c> etherium</c><00:06:10.490><c> it</c><00:06:10.610><c> can</c><00:06:10.729><c> only</c><00:06:10.819><c> go</c><00:06:11.030><c> into</c><00:06:11.150><c> theory</c>

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and etherium it can only go into theory
 

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and etherium it can only go into theory
so<00:06:13.219><c> far</c><00:06:13.250><c> simply</c><00:06:13.789><c> right</c><00:06:14.050><c> facing</c><00:06:15.280><c> now</c>

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so far simply right facing now
 

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so far simply right facing now
Thank<00:06:16.940><c> You</c><00:06:17.090><c> of</c><00:06:17.270><c> cross</c><00:06:17.479><c> communication</c><00:06:17.960><c> is</c><00:06:18.409><c> that</c>

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Thank You of cross communication is that
 

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Thank You of cross communication is that
Alice<00:06:19.099><c> ones</c><00:06:19.819><c> that</c><00:06:20.090><c> Bob</c><00:06:20.389><c> writes</c><00:06:20.780><c> transaction</c>

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Alice ones that Bob writes transaction
 

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Alice ones that Bob writes transaction
do<00:06:21.949><c> to</c><00:06:22.159><c> aetherium</c><00:06:22.729><c> and</c><00:06:22.940><c> Bob</c><00:06:23.629><c> would</c><00:06:23.840><c> like</c><00:06:24.050><c> that</c>

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do to aetherium and Bob would like that
 

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do to aetherium and Bob would like that
Alice<00:06:24.830><c> read</c><00:06:25.039><c> transaction</c><00:06:25.639><c> one</c><00:06:25.849><c> to</c><00:06:26.180><c> Bitcoin</c>

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Alice read transaction one to Bitcoin
 

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Alice read transaction one to Bitcoin
now<00:06:27.740><c> this</c><00:06:27.949><c> and</c><00:06:28.250><c> basically</c><00:06:28.610><c> this</c><00:06:29.029><c> also</c><00:06:29.210><c> implies</c>

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now this and basically this also implies
 

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now this and basically this also implies
that<00:06:29.690><c> Alice</c><00:06:30.199><c> knows</c><00:06:30.409><c> exactly</c><00:06:30.800><c> how</c><00:06:31.099><c> transaction</c>

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that Alice knows exactly how transaction
 

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that Alice knows exactly how transaction
looks<00:06:31.880><c> like</c><00:06:32.090><c> and</c><00:06:32.300><c> the</c><00:06:32.659><c> other</c><00:06:32.690><c> way</c><00:06:32.930><c> around</c><00:06:32.990><c> both</c>

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looks like and the other way around both
 

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looks like and the other way around both
of<00:06:33.529><c> those</c><00:06:33.919><c> what</c><00:06:34.190><c> she</c><00:06:34.310><c> actually</c><00:06:34.430><c> wants</c><00:06:34.669><c> to</c><00:06:34.909><c> have</c>

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of those what she actually wants to have
 

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of those what she actually wants to have
now<00:06:36.229><c> if</c><00:06:36.620><c> what</c><00:06:36.949><c> reduces</c><00:06:37.400><c> to</c><00:06:37.520><c> practice</c><00:06:37.969><c> you</c><00:06:38.300><c> can</c>

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now if what reduces to practice you can
 

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now if what reduces to practice you can
imagine<00:06:38.659><c> this</c><00:06:38.930><c> being</c><00:06:39.110><c> an</c><00:06:39.259><c> exchange</c><00:06:39.620><c> right</c>

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imagine this being an exchange right
 

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imagine this being an exchange right
transaction<00:06:40.909><c> two</c><00:06:41.060><c> gives</c><00:06:41.270><c> a</c><00:06:41.360><c> theory</c><00:06:41.630><c> of</c><00:06:41.750><c> Travis</c>

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transaction two gives a theory of Travis
 

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transaction two gives a theory of Travis
transaction<00:06:43.130><c> one</c><00:06:43.250><c> is</c><00:06:43.400><c> bit</c><00:06:43.610><c> go</c><00:06:43.789><c> to</c><00:06:43.909><c> Bob</c><00:06:44.090><c> right</c>

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transaction one is bit go to Bob right
 

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transaction one is bit go to Bob right
and<00:06:45.080><c> let's</c><00:06:45.229><c> keep</c><00:06:45.349><c> this</c><00:06:45.500><c> in</c><00:06:45.650><c> mind</c><00:06:45.800><c> for</c><00:06:45.860><c> the</c><00:06:46.069><c> rest</c>

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and let's keep this in mind for the rest
 

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and let's keep this in mind for the rest
of<00:06:46.430><c> the</c><00:06:46.520><c> discussion</c><00:06:48.039><c> now</c><00:06:49.039><c> the</c><00:06:49.099><c> goal</c><00:06:49.460><c> of</c>

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of the discussion now the goal of
 

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of the discussion now the goal of
crushing<00:06:49.969><c> communications</c><00:06:50.599><c> to</c><00:06:50.750><c> synchronize</c>

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crushing communications to synchronize
 

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crushing communications to synchronize
these<00:06:51.590><c> two</c><00:06:51.740><c> processes</c><00:06:52.190><c> right</c><00:06:52.460><c> we</c><00:06:52.580><c> were</c><00:06:52.669><c> to</c>

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these two processes right we were to
 

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these two processes right we were to
make<00:06:52.940><c> sure</c><00:06:53.090><c> that</c><00:06:53.210><c> Alice</c><00:06:53.599><c> writes</c><00:06:53.900><c> transaction</c>

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make sure that Alice writes transaction
 

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make sure that Alice writes transaction
one<00:06:54.800><c> to</c><00:06:55.009><c> Bitcoin</c><00:06:55.190><c> but</c><00:06:55.789><c> bubbles</c><00:06:56.270><c> the</c><00:06:56.389><c> rest</c>

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one to Bitcoin but bubbles the rest
 

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one to Bitcoin but bubbles the rest
interaction<00:06:57.080><c> to</c><00:06:57.229><c> to</c><00:06:57.379><c> theory</c><00:06:57.680><c> and</c><00:06:58.039><c> we</c><00:06:58.639><c> actually</c>

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interaction to to theory and we actually
 

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interaction to to theory and we actually
wanted<00:06:59.300><c> to</c><00:06:59.360><c> ensure</c><00:06:59.659><c> that</c><00:06:59.690><c> they</c><00:07:00.259><c> both</c><00:07:00.440><c> write</c><00:07:00.710><c> at</c>

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wanted to ensure that they both write at
 

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wanted to ensure that they both write at
the<00:07:00.919><c> same</c><00:07:00.979><c> time</c><00:07:01.400><c> or</c><00:07:01.940><c> at</c><00:07:02.029><c> least</c><00:07:02.210><c> atomic</c><00:07:03.669><c> now</c><00:07:04.669><c> we</c>

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the same time or at least atomic now we
 

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the same time or at least atomic now we
have<00:07:05.659><c> three</c><00:07:05.990><c> properties</c><00:07:06.379><c> for</c><00:07:06.710><c> customer</c>

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have three properties for customer
 

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have three properties for customer
communication<00:07:07.610><c> the</c><00:07:07.699><c> paper</c><00:07:07.879><c> I</c><00:07:08.120><c> will</c><00:07:08.330><c> not</c><00:07:08.509><c> bore</c>

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communication the paper I will not bore
 

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communication the paper I will not bore
you<00:07:08.900><c> with</c><00:07:08.930><c> a</c><00:07:09.080><c> theoretical</c><00:07:09.379><c> definitions</c><00:07:10.069><c> here</c>

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you with a theoretical definitions here
 

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you with a theoretical definitions here
I'll<00:07:10.430><c> just</c><00:07:10.460><c> try</c><00:07:10.940><c> to</c><00:07:11.000><c> give</c><00:07:11.180><c> the</c><00:07:11.300><c> intuition</c><00:07:11.659><c> what</c>

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I'll just try to give the intuition what
 

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I'll just try to give the intuition what
she<00:07:11.900><c> took</c><00:07:12.020><c> with</c><00:07:12.229><c> each</c><00:07:12.379><c> of</c><00:07:12.500><c> the</c><00:07:12.590><c> means</c><00:07:12.830><c> so</c>

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she took with each of the means so
 

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she took with each of the means so
effectiveness<00:07:14.180><c> basically</c><00:07:14.719><c> states</c><00:07:15.139><c> that</c><00:07:15.289><c> if</c>

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effectiveness basically states that if
 

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effectiveness basically states that if
everything<00:07:15.770><c> is</c><00:07:16.009><c> alright</c><00:07:16.219><c> if</c><00:07:16.610><c> Alice</c><00:07:17.000><c> and</c><00:07:17.180><c> Bob</c>

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everything is alright if Alice and Bob
 

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everything is alright if Alice and Bob
are<00:07:17.389><c> honest</c><00:07:17.750><c> and</c><00:07:17.960><c> the</c><00:07:18.740><c> transactions</c><00:07:19.310><c> are</c><00:07:19.460><c> as</c>

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are honest and the transactions are as
 

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are honest and the transactions are as
they<00:07:19.759><c> expect</c><00:07:20.090><c> then</c><00:07:20.629><c> cross</c><00:07:21.169><c> your</c>

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they expect then cross your
 

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they expect then cross your
communication<00:07:21.860><c> will</c><00:07:22.039><c> receive</c><00:07:22.400><c> correct</c><00:07:22.699><c> right</c>

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communication will receive correct right
 

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communication will receive correct right
so<00:07:23.659><c> this</c><00:07:23.810><c> basically</c>

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so this basically
 

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so this basically
process<00:07:25.080><c> to</c><00:07:25.170><c> be</c><00:07:25.260><c> executed</c><00:07:25.770><c> now</c><00:07:26.670><c> atomicity</c>

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process to be executed now atomicity
 

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process to be executed now atomicity
reduces<00:07:27.990><c> the</c><00:07:28.110><c> set</c><00:07:28.350><c> of</c><00:07:28.530><c> potential</c><00:07:28.890><c> behaviors</c>

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reduces the set of potential behaviors
 

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reduces the set of potential behaviors
to<00:07:30.090><c> ensure</c><00:07:30.360><c> that</c><00:07:30.390><c> either</c><00:07:30.990><c> Alice</c><00:07:31.980><c> and</c><00:07:32.190><c> Bob</c>

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to ensure that either Alice and Bob
 

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to ensure that either Alice and Bob
write<00:07:32.820><c> transactions</c><00:07:33.450><c> to</c><00:07:33.660><c> the</c><00:07:33.750><c> respective</c>

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write transactions to the respective
 

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write transactions to the respective
blockchain

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blockchain
 

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blockchain
so<00:07:34.740><c> either</c><00:07:34.920><c> teks</c><00:07:35.340><c> one</c><00:07:35.640><c> goes</c><00:07:35.790><c> into</c><00:07:35.940><c> bit</c><00:07:36.150><c> hundred</c>

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so either teks one goes into bit hundred
 

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so either teks one goes into bit hundred
and<00:07:36.750><c> six</c><00:07:37.260><c> two</c><00:07:37.470><c> thousand</c><00:07:37.770><c> two</c><00:07:37.860><c> theorem</c><00:07:38.280><c> or</c><00:07:38.790><c> none</c>

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and six two thousand two theorem or none
 

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and six two thousand two theorem or none
of<00:07:39.150><c> them</c><00:07:39.270><c> do</c><00:07:39.450><c> right</c><00:07:39.870><c> because</c><00:07:40.290><c> otherwise</c>

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of them do right because otherwise
 

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of them do right because otherwise
Palace<00:07:41.460><c> work</c><00:07:41.670><c> Bob</c><00:07:41.880><c> could</c><00:07:42.060><c> be</c><00:07:42.150><c> the</c>

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Palace work Bob could be the
 

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Palace work Bob could be the
disadvantage<00:07:42.840><c> and</c><00:07:43.050><c> this</c><00:07:43.230><c> took</c><00:07:43.380><c> great-uncle</c>

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disadvantage and this took great-uncle
 

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disadvantage and this took great-uncle
and<00:07:44.730><c> finally</c><00:07:45.510><c> timeliness</c><00:07:45.930><c> basically</c><00:07:46.560><c> ensures</c>

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and finally timeliness basically ensures
 

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and finally timeliness basically ensures
that<00:07:46.890><c> at</c><00:07:47.070><c> some</c><00:07:47.430><c> point</c><00:07:47.790><c> the</c><00:07:48.030><c> protocol</c>

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that at some point the protocol
 

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that at some point the protocol
proceeded<00:07:48.810><c> at</c><00:07:48.960><c> some</c><00:07:49.170><c> point</c><00:07:49.440><c> Bob</c><00:07:50.100><c> Morales</c><00:07:50.670><c> will</c>

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proceeded at some point Bob Morales will
 

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proceeded at some point Bob Morales will
initiate<00:07:51.060><c> the</c><00:07:51.300><c> process</c><00:07:51.480><c> and</c><00:07:51.780><c> then</c><00:07:51.900><c> the</c>

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initiate the process and then the
 

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initiate the process and then the
protocol<00:07:52.410><c> starts</c><00:07:52.680><c> with</c><00:07:53.630><c> now</c><00:07:55.250><c> let's</c><00:07:56.250><c> recall</c>

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protocol starts with now let's recall
 

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protocol starts with now let's recall
again<00:07:56.850><c> we're</c><00:07:57.330><c> looking</c><00:07:57.630><c> at</c><00:07:57.720><c> an</c><00:07:57.810><c> exchange</c><00:07:57.990><c> and</c>

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again we're looking at an exchange and
 

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again we're looking at an exchange and
essentially<00:08:00.150><c> cross</c><00:08:00.720><c> gene</c><00:08:00.930><c> communication</c>

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essentially cross gene communication
 

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essentially cross gene communication
between<00:08:01.650><c> Alice</c><00:08:02.310><c> and</c><00:08:02.460><c> Bob</c><00:08:02.600><c> it</c><00:08:03.600><c> can</c><00:08:03.780><c> be</c><00:08:03.930><c> seen</c><00:08:04.260><c> as</c>

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between Alice and Bob it can be seen as
 

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between Alice and Bob it can be seen as
a<00:08:04.410><c> fair</c><00:08:04.740><c> exchange</c><00:08:04.920><c> of</c><00:08:05.220><c> assets</c><00:08:05.550><c> specifically</c>

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a fair exchange of assets specifically
 

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a fair exchange of assets specifically
using<00:08:06.720><c> our</c><00:08:06.870><c> example</c><00:08:07.140><c> to</c><00:08:07.530><c> emphasize</c><00:08:08.400><c> this</c>

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using our example to emphasize this
 

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using our example to emphasize this
right<00:08:09.270><c> because</c><00:08:09.420><c> they</c><00:08:09.660><c> want</c><00:08:09.840><c> to</c><00:08:09.900><c> make</c><00:08:10.050><c> sure</c>

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right because they want to make sure
 

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right because they want to make sure
that<00:08:10.320><c> Alice</c><00:08:10.680><c> receives</c><00:08:10.860><c> coins</c><00:08:11.400><c> of</c><00:08:11.640><c> it</c><00:08:11.790><c> on</c>

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that Alice receives coins of it on
 

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that Alice receives coins of it on
aetherium<00:08:12.570><c> and</c><00:08:12.870><c> poverty</c><00:08:13.350><c> points</c><00:08:13.890><c> of</c><00:08:13.980><c> Bitcoin</c>

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aetherium and poverty points of Bitcoin
 

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aetherium and poverty points of Bitcoin
atomic<00:08:15.240><c> otherwise</c><00:08:15.780><c> one</c><00:08:16.080><c> of</c><00:08:16.110><c> them</c><00:08:16.350><c> will</c><00:08:16.470><c> be</c>

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atomic otherwise one of them will be
 

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atomic otherwise one of them will be
cheap<00:08:17.720><c> now</c><00:08:18.720><c> the</c><00:08:18.810><c> thing</c><00:08:19.050><c> is</c><00:08:19.080><c> that</c><00:08:19.320><c> fair</c>

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cheap now the thing is that fair
 

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cheap now the thing is that fair
exchange<00:08:19.680><c> is</c><00:08:19.890><c> impossible</c><00:08:20.430><c> without</c><00:08:20.760><c> a</c><00:08:20.940><c> trusted</c>

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exchange is impossible without a trusted
 

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exchange is impossible without a trusted
her<00:08:21.420><c> prior</c><00:08:21.630><c> this</c><00:08:21.840><c> is</c><00:08:21.960><c> a</c><00:08:21.990><c> result</c><00:08:22.320><c> from</c><00:08:22.500><c> that</c>

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her prior this is a result from that
 

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her prior this is a result from that
dating<00:08:23.310><c> back</c><00:08:23.460><c> to</c><00:08:23.610><c> 1999</c>

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dating back to 1999
 

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dating back to 1999
um<00:08:24.750><c> if</c><00:08:25.080><c> y'all</c><00:08:25.260><c> gonna</c><00:08:25.350><c> be</c><00:08:25.620><c> three</c><00:08:25.770><c> month</c><00:08:25.920><c> outlook</c>

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um if y'all gonna be three month outlook
 

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um if y'all gonna be three month outlook
it's<00:08:26.400><c> written</c><00:08:26.580><c> in</c><00:08:26.700><c> this</c><00:08:26.790><c> paper</c><00:08:26.970><c> it's</c><00:08:27.300><c> actually</c>

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it's written in this paper it's actually
 

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it's written in this paper it's actually
fairly<00:08:27.810><c> easy</c><00:08:27.900><c> to</c><00:08:28.110><c> follow</c><00:08:28.290><c> and</c><00:08:28.500><c> there's</c><00:08:28.620><c> a</c>

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fairly easy to follow and there's a
 

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fairly easy to follow and there's a
really<00:08:28.920><c> good</c><00:08:29.040><c> explanation</c><00:08:29.250><c> also</c><00:08:29.880><c> the</c>

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really good explanation also the
 

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really good explanation also the
discussion<00:08:30.330><c> about</c><00:08:31.050><c> trusted</c><00:08:31.440><c> through</c><00:08:31.590><c> our</c>

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discussion about trusted through our
 

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discussion about trusted through our
parties<00:08:32.310><c> and</c><00:08:32.520><c> what</c><00:08:32.670><c> this</c><00:08:32.790><c> actually</c><00:08:33.000><c> means</c>

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parties and what this actually means
 

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parties and what this actually means
well<00:08:35.240><c> questions</c><00:08:36.240><c> what</c><00:08:36.960><c> do</c><00:08:37.080><c> you</c><00:08:37.170><c> consider</c>

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well questions what do you consider
 

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well questions what do you consider
first<00:08:37.890><c> place</c><00:08:38.150><c> okay</c><00:08:39.150><c> let's</c><00:08:39.930><c> get</c><00:08:40.050><c> back</c><00:08:40.200><c> to</c><00:08:40.350><c> that</c>

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first place okay let's get back to that
 

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first place okay let's get back to that
out<00:08:40.560><c> this</c><00:08:40.860><c> is</c><00:08:40.920><c> double</c><00:08:41.310><c> talk</c><00:08:41.670><c> about</c><00:08:41.910><c> the</c><00:08:42.150><c> same</c>

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out this is double talk about the same
 

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out this is double talk about the same
because<00:08:42.840><c> expressed</c><00:08:43.229><c> using</c><00:08:43.410><c> a</c><00:08:43.650><c> few</c><00:08:43.800><c> more</c>

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because expressed using a few more
 

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because expressed using a few more
conferences

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conferences
 

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conferences
he's<00:08:44.880><c> possible</c><00:08:45.420><c> no</c><00:08:46.260><c> and</c><00:08:47.010><c> I'll</c><00:08:47.130><c> try</c><00:08:47.340><c> to</c><00:08:47.370><c> explain</c>

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he's possible no and I'll try to explain
 

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he's possible no and I'll try to explain
this<00:08:47.820><c> I</c><00:08:48.350><c> don't</c><00:08:49.350><c> think</c><00:08:49.470><c> the</c><00:08:49.920><c> question</c><00:08:50.070><c> is</c><00:08:50.280><c> what</c>

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this I don't think the question is what
 

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this I don't think the question is what
you<00:08:50.550><c> consider</c>

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the<00:08:54.130><c> definition</c><00:08:54.640><c> before</c><00:08:54.760><c> so</c><00:08:55.180><c> let</c><00:08:56.080><c> I'll</c>

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the definition before so let I'll
 

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the definition before so let I'll
explain<00:08:56.860><c> in</c><00:08:56.950><c> a</c><00:08:57.010><c> second</c><00:08:57.340><c> you</c><00:08:57.400><c> won't</c><00:08:57.610><c> get</c><00:08:57.760><c> to</c>

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explain in a second you won't get to
 

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explain in a second you won't get to
that<00:08:58.000><c> point</c><00:08:58.210><c> but</c><00:08:58.480><c> yeah</c><00:08:58.690><c> HTC's</c><00:08:59.290><c> allow</c><00:08:59.710><c> you</c><00:08:59.770><c> to</c>

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that point but yeah HTC's allow you to
 

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that point but yeah HTC's allow you to
reduce<00:09:00.400><c> trust</c><00:09:01.270><c> in</c><00:09:01.990><c> the</c><00:09:02.230><c> third</c><00:09:02.410><c> party</c><00:09:02.770><c> but</c><00:09:03.520><c> you</c>

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reduce trust in the third party but you
 

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reduce trust in the third party but you
don't<00:09:03.820><c> ever</c><00:09:03.940><c> get</c><00:09:04.120><c> anything</c><00:09:04.450><c> here</c><00:09:04.660><c> took</c><00:09:04.780><c> that</c>

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don't ever get anything here took that
 

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don't ever get anything here took that
the<00:09:05.290><c> exchange</c><00:09:05.560><c> will</c><00:09:05.650><c> actually</c><00:09:05.920><c> get</c><00:09:06.040><c> time</c>

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the exchange will actually get time
 

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the exchange will actually get time
we'll<00:09:08.200><c> get</c><00:09:08.320><c> to</c><00:09:08.440><c> that</c><00:09:08.470><c> in</c><00:09:08.680><c> a</c><00:09:08.710><c> second</c><00:09:09.300><c> so</c><00:09:10.300><c> again</c>

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we'll get to that in a second so again
 

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we'll get to that in a second so again
we<00:09:10.660><c> conjecture</c><00:09:10.840><c> right</c><00:09:11.350><c> right</c><00:09:11.620><c> now</c><00:09:11.770><c> that</c><00:09:11.980><c> it's</c>

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we conjecture right right now that it's
 

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we conjecture right right now that it's
impossible<00:09:12.640><c> right</c><00:09:12.730><c> and</c><00:09:13.030><c> there's</c><00:09:13.210><c> a</c><00:09:13.270><c> whole</c>

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impossible right and there's a whole
 

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impossible right and there's a whole
basically<00:09:14.740><c> proof</c><00:09:14.980><c> sketch</c><00:09:15.130><c> in</c><00:09:15.430><c> the</c><00:09:15.460><c> paper</c><00:09:15.730><c> and</c>

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basically proof sketch in the paper and
 

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basically proof sketch in the paper and
I'll<00:09:16.540><c> try</c><00:09:16.750><c> to</c><00:09:16.810><c> give</c><00:09:17.020><c> an</c><00:09:17.110><c> intuition</c><00:09:17.530><c> here</c><00:09:17.740><c> right</c>

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I'll try to give an intuition here right
 

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I'll try to give an intuition here right
now<00:09:18.010><c> because</c><00:09:18.430><c> obviously</c><00:09:18.550><c> I</c><00:09:19.120><c> don't</c><00:09:19.150><c> think</c><00:09:19.750><c> you</c>

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now because obviously I don't think you
 

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now because obviously I don't think you
should<00:09:19.870><c> just</c><00:09:20.140><c> trust</c><00:09:20.350><c> me</c><00:09:20.530><c> I'm</c><00:09:21.010><c> saying</c><00:09:22.260><c> so</c><00:09:23.260><c> let's</c>

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should just trust me I'm saying so let's
 

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should just trust me I'm saying so let's
assume<00:09:23.710><c> again</c><00:09:24.040><c> we</c><00:09:24.340><c> have</c><00:09:24.490><c> a</c><00:09:24.520><c> smart</c><00:09:24.850><c> contract</c>

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assume again we have a smart contract
 

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assume again we have a smart contract
anything<00:09:25.570><c> right</c><00:09:25.870><c> then</c><00:09:26.020><c> the</c><00:09:26.140><c> smart</c><00:09:26.350><c> contract</c>

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anything right then the smart contract
 

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anything right then the smart contract
allows<00:09:26.950><c> us</c><00:09:27.070><c> to</c><00:09:27.160><c> do</c><00:09:27.250><c> way</c><00:09:27.430><c> more</c><00:09:27.460><c> things</c><00:09:27.880><c> than</c>

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allows us to do way more things than
 

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allows us to do way more things than
just<00:09:28.390><c> teach</c><00:09:28.570><c> those</c><00:09:28.810><c> so</c><00:09:29.260><c> it</c><00:09:29.350><c> kind</c><00:09:29.680><c> of</c>

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just teach those so it kind of
 

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just teach those so it kind of
supersedes<00:09:30.250><c> patent</c><00:09:31.000><c> law</c><00:09:31.090><c> contracts</c><00:09:31.510><c> in</c><00:09:31.600><c> this</c>

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supersedes patent law contracts in this
 

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supersedes patent law contracts in this
case<00:09:31.870><c> and</c><00:09:32.740><c> you</c><00:09:32.980><c> see</c><00:09:33.010><c> this</c><00:09:33.250><c> fart</c><00:09:33.460><c> project</c><00:09:33.850><c> what</c>

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case and you see this fart project what
 

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case and you see this fart project what
we<00:09:34.060><c> can</c><00:09:34.210><c> actually</c><00:09:34.360><c> do</c><00:09:34.720><c> is</c><00:09:34.840><c> we</c><00:09:34.870><c> can</c><00:09:35.110><c> enforce</c>

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we can actually do is we can enforce
 

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we can actually do is we can enforce
that<00:09:36.310><c> Bob</c><00:09:36.610><c> behaves</c><00:09:36.940><c> correctly</c><00:09:37.150><c> if</c><00:09:37.630><c> Alice</c>

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that Bob behaves correctly if Alice
 

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that Bob behaves correctly if Alice
writes<00:09:38.440><c> transaction</c><00:09:38.980><c> tips</c><00:09:39.400><c> want</c><00:09:39.670><c> to</c><00:09:39.760><c> bid</c>

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writes transaction tips want to bid
 

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writes transaction tips want to bid
right<00:09:40.300><c> because</c><00:09:41.080><c> we</c><00:09:41.200><c> can</c><00:09:41.230><c> require</c><00:09:41.830><c> lock</c><00:09:42.160><c> to</c>

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right because we can require lock to
 

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right because we can require lock to
lock<00:09:42.430><c> in</c><00:09:42.730><c> some</c><00:09:42.760><c> coins</c><00:09:43.180><c> in</c><00:09:43.330><c> the</c><00:09:43.450><c> contract</c><00:09:43.930><c> and</c>

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lock in some coins in the contract and
 

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lock in some coins in the contract and
the<00:09:45.130><c> contract</c><00:09:45.160><c> will</c><00:09:45.700><c> then</c><00:09:45.850><c> release</c><00:09:46.300><c> these</c>

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the contract will then release these
 

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the contract will then release these
coins<00:09:46.780><c> if</c><00:09:47.110><c> Alice</c><00:09:47.650><c> control</c><00:09:48.070><c> actually</c><00:09:48.400><c> spent</c>

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coins if Alice control actually spent
 

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coins if Alice control actually spent
send<00:09:49.420><c> it</c><00:09:49.570><c> to</c><00:09:49.840><c> Bob</c><00:09:49.960><c> in</c><00:09:50.020><c> a</c><00:09:50.170><c> bit</c><00:09:50.320><c> better</c><00:09:50.730><c> so</c><00:09:51.730><c> this</c>

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send it to Bob in a bit better so this
 

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send it to Bob in a bit better so this
is<00:09:52.000><c> actually</c><00:09:52.360><c> a</c><00:09:52.390><c> very</c><00:09:52.540><c> weak</c><00:09:52.780><c> model</c><00:09:53.170><c> using</c>

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is actually a very weak model using
 

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is actually a very weak model using
angel<00:09:53.680><c> season</c><00:09:54.070><c> becomes</c><00:09:54.310><c> more</c><00:09:54.460><c> complicated</c><00:09:55.090><c> in</c>

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angel season becomes more complicated in
 

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angel season becomes more complicated in
fact<00:09:55.600><c> the</c><00:09:55.900><c> we'll</c><00:09:56.080><c> cover</c><00:09:56.380><c> this</c><00:09:56.530><c> in</c><00:09:56.590><c> the</c><00:09:56.770><c> first</c>

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fact the we'll cover this in the first
 

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fact the we'll cover this in the first
lesson<00:09:57.130><c> there</c>

00:09:57.810 --> 00:09:57.820 align:start position:0%
lesson there
 

00:09:57.820 --> 00:10:00.900 align:start position:0%
lesson there
now<00:09:58.750><c> if</c><00:09:59.350><c> Alice</c><00:09:59.740><c> memorized</c><00:10:00.130><c> transaction</c><00:10:00.430><c> went</c>

00:10:00.900 --> 00:10:00.910 align:start position:0%
now if Alice memorized transaction went
 

00:10:00.910 --> 00:10:03.180 align:start position:0%
now if Alice memorized transaction went
a<00:10:01.030><c> bit</c><00:10:01.180><c> grunt</c><00:10:01.480><c> she</c><00:10:02.440><c> wants</c><00:10:02.680><c> to</c><00:10:02.770><c> be</c><00:10:02.890><c> sure</c><00:10:03.070><c> that</c>

00:10:03.180 --> 00:10:03.190 align:start position:0%
a bit grunt she wants to be sure that
 

00:10:03.190 --> 00:10:04.890 align:start position:0%
a bit grunt she wants to be sure that
she<00:10:03.250><c> receives</c><00:10:03.670><c> the</c><00:10:03.760><c> Quincy</c><00:10:04.180><c> theorem</c><00:10:04.600><c> so</c><00:10:04.750><c> what</c>

00:10:04.890 --> 00:10:04.900 align:start position:0%
she receives the Quincy theorem so what
 

00:10:04.900 --> 00:10:08.010 align:start position:0%
she receives the Quincy theorem so what
she<00:10:05.020><c> has</c><00:10:05.140><c> to</c><00:10:05.380><c> do</c><00:10:05.760><c> he</c><00:10:06.760><c> has</c><00:10:06.970><c> to</c><00:10:07.330><c> suggest</c><00:10:07.690><c> me</c><00:10:07.960><c> to</c>

00:10:08.010 --> 00:10:08.020 align:start position:0%
she has to do he has to suggest me to
 

00:10:08.020 --> 00:10:10.140 align:start position:0%
she has to do he has to suggest me to
prove<00:10:08.380><c> or</c><00:10:08.650><c> somehow</c><00:10:08.980><c> inform</c><00:10:09.580><c> this</c><00:10:09.850><c> smart</c>

00:10:10.140 --> 00:10:10.150 align:start position:0%
prove or somehow inform this smart
 

00:10:10.150 --> 00:10:12.780 align:start position:0%
prove or somehow inform this smart
contract<00:10:10.720><c> on</c><00:10:10.930><c> the</c><00:10:11.110><c> theory</c><00:10:11.380><c> side</c><00:10:11.500><c> that</c><00:10:12.490><c> she</c>

00:10:12.780 --> 00:10:12.790 align:start position:0%
contract on the theory side that she
 

00:10:12.790 --> 00:10:14.940 align:start position:0%
contract on the theory side that she
actually<00:10:13.030><c> wrote</c><00:10:13.540><c> the</c><00:10:13.780><c> transaction</c><00:10:14.620><c> to</c><00:10:14.830><c> the</c>

00:10:14.940 --> 00:10:14.950 align:start position:0%
actually wrote the transaction to the
 

00:10:14.950 --> 00:10:17.640 align:start position:0%
actually wrote the transaction to the
bit<00:10:15.100><c> cross-eyed</c><00:10:15.490><c> and</c><00:10:15.970><c> the</c><00:10:16.570><c> problem</c><00:10:16.960><c> is</c><00:10:17.080><c> within</c>

00:10:17.640 --> 00:10:17.650 align:start position:0%
bit cross-eyed and the problem is within
 

00:10:17.650 --> 00:10:19.590 align:start position:0%
bit cross-eyed and the problem is within
a<00:10:17.800><c> single</c><00:10:18.040><c> chain</c><00:10:18.460><c> yes</c><00:10:19.000><c> this</c><00:10:19.270><c> smart</c>

00:10:19.590 --> 00:10:19.600 align:start position:0%
a single chain yes this smart
 

00:10:19.600 --> 00:10:21.180 align:start position:0%
a single chain yes this smart
contractors<00:10:20.170><c> could</c><00:10:20.320><c> actually</c><00:10:20.530><c> very</c><00:10:20.920><c> fine</c>

00:10:21.180 --> 00:10:21.190 align:start position:0%
contractors could actually very fine
 

00:10:21.190 --> 00:10:23.340 align:start position:0%
contractors could actually very fine
right<00:10:21.460><c> -</c><00:10:21.610><c> good</c><00:10:21.790><c> if</c><00:10:22.300><c> Alice</c><00:10:22.750><c> were</c><00:10:22.780><c> to</c><00:10:23.050><c> write</c><00:10:23.200><c> -</c>

00:10:23.340 --> 00:10:23.350 align:start position:0%
right - good if Alice were to write -
 

00:10:23.350 --> 00:10:24.720 align:start position:0%
right - good if Alice were to write -
theory<00:10:23.650><c> you</c><00:10:23.800><c> meant</c><00:10:23.950><c> to</c><00:10:24.040><c> call</c><00:10:24.220><c> a</c><00:10:24.250><c> function</c><00:10:24.670><c> of</c>

00:10:24.720 --> 00:10:24.730 align:start position:0%
theory you meant to call a function of
 

00:10:24.730 --> 00:10:26.310 align:start position:0%
theory you meant to call a function of
the<00:10:24.820><c> smart</c><00:10:25.060><c> contract</c><00:10:25.180><c> the</c><00:10:25.780><c> contract</c><00:10:26.200><c> will</c>

00:10:26.310 --> 00:10:26.320 align:start position:0%
the smart contract the contract will
 

00:10:26.320 --> 00:10:28.140 align:start position:0%
the smart contract the contract will
become<00:10:26.620><c> aware</c><00:10:26.740><c> that</c><00:10:27.250><c> yes</c><00:10:27.520><c> something</c><00:10:28.090><c> is</c>

00:10:28.140 --> 00:10:28.150 align:start position:0%
become aware that yes something is
 

00:10:28.150 --> 00:10:29.850 align:start position:0%
become aware that yes something is
happened<00:10:28.540><c> but</c><00:10:28.990><c> since</c><00:10:29.230><c> these</c><00:10:29.380><c> are</c><00:10:29.530><c> separate</c>

00:10:29.850 --> 00:10:29.860 align:start position:0%
happened but since these are separate
 

00:10:29.860 --> 00:10:32.280 align:start position:0%
happened but since these are separate
Ledger's<00:10:30.280><c> this</c><00:10:30.790><c> country</c><00:10:31.180><c> by</c><00:10:31.360><c> itself</c><00:10:31.660><c> also</c>

00:10:32.280 --> 00:10:32.290 align:start position:0%
Ledger's this country by itself also
 

00:10:32.290 --> 00:10:33.870 align:start position:0%
Ledger's this country by itself also
being<00:10:32.590><c> a</c><00:10:32.650><c> program</c><00:10:33.010><c> which</c><00:10:33.130><c> react</c><00:10:33.460><c> system</c><00:10:33.640><c> it</c>

00:10:33.870 --> 00:10:33.880 align:start position:0%
being a program which react system it
 

00:10:33.880 --> 00:10:36.960 align:start position:0%
being a program which react system it
but<00:10:34.060><c> it</c><00:10:34.150><c> has</c><00:10:34.270><c> no</c><00:10:34.480><c> other</c><00:10:34.810><c> way</c><00:10:35.170><c> to</c><00:10:35.920><c> verify</c><00:10:36.220><c> that's</c>

00:10:36.960 --> 00:10:36.970 align:start position:0%
but it has no other way to verify that's
 

00:10:36.970 --> 00:10:38.430 align:start position:0%
but it has no other way to verify that's
something<00:10:37.330><c> I've</c><00:10:37.420><c> been</c><00:10:37.540><c> a</c><00:10:37.570><c> bit</c><00:10:37.750><c> of</c><00:10:37.900><c> an</c><00:10:37.960><c> accepted</c>

00:10:38.430 --> 00:10:38.440 align:start position:0%
something I've been a bit of an accepted
 

00:10:38.440 --> 00:10:39.450 align:start position:0%
something I've been a bit of an accepted
someone<00:10:38.740><c> who</c><00:10:38.800><c> tells</c><00:10:39.010><c> them</c><00:10:39.160><c> that</c><00:10:39.190><c> it's</c>

00:10:39.450 --> 00:10:39.460 align:start position:0%
someone who tells them that it's
 

00:10:39.460 --> 00:10:41.730 align:start position:0%
someone who tells them that it's
happened<00:10:39.790><c> and</c><00:10:40.000><c> this</c><00:10:40.600><c> is</c><00:10:40.780><c> actually</c><00:10:41.110><c> where</c><00:10:41.260><c> the</c>

00:10:41.730 --> 00:10:41.740 align:start position:0%
happened and this is actually where the
 

00:10:41.740 --> 00:10:45.009 align:start position:0%
happened and this is actually where the
comes<00:10:42.740><c> in</c><00:10:43.180><c> because</c><00:10:44.180><c> the</c><00:10:44.480><c> only</c><00:10:44.630><c> way</c><00:10:44.779><c> we</c><00:10:44.899><c> can</c>

00:10:45.009 --> 00:10:45.019 align:start position:0%
comes in because the only way we can
 

00:10:45.019 --> 00:10:46.990 align:start position:0%
comes in because the only way we can
solve<00:10:45.350><c> this</c><00:10:45.560><c> problem</c><00:10:45.620><c> place</c><00:10:46.250><c> we</c><00:10:46.399><c> can</c><00:10:46.550><c> make</c><00:10:46.759><c> an</c>

00:10:46.990 --> 00:10:47.000 align:start position:0%
solve this problem place we can make an
 

00:10:47.000 --> 00:10:48.879 align:start position:0%
solve this problem place we can make an
assumption<00:10:47.360><c> that</c><00:10:47.509><c> either</c><00:10:47.870><c> all</c><00:10:48.410><c> parties</c><00:10:48.860><c> that</c>

00:10:48.879 --> 00:10:48.889 align:start position:0%
assumption that either all parties that
 

00:10:48.889 --> 00:10:50.410 align:start position:0%
assumption that either all parties that
we<00:10:49.399><c> have</c><00:10:49.490><c> seen</c><00:10:49.699><c> from</c><00:10:49.790><c> the</c><00:10:49.910><c> small</c><00:10:50.149><c> that</c><00:10:50.389><c> means</c>

00:10:50.410 --> 00:10:50.420 align:start position:0%
we have seen from the small that means
 

00:10:50.420 --> 00:10:52.900 align:start position:0%
we have seen from the small that means
Alice<00:10:51.110><c> is</c><00:10:51.290><c> also</c><00:10:51.589><c> online</c><00:10:51.740><c> and</c><00:10:52.160><c> that</c><00:10:52.639><c> we</c><00:10:52.790><c> know</c>

00:10:52.900 --> 00:10:52.910 align:start position:0%
Alice is also online and that we know
 

00:10:52.910 --> 00:10:54.550 align:start position:0%
Alice is also online and that we know
that<00:10:53.089><c> there's</c><00:10:53.269><c> a</c><00:10:53.360><c> bound</c><00:10:53.690><c> on</c><00:10:54.079><c> the</c><00:10:54.259><c> message</c>

00:10:54.550 --> 00:10:54.560 align:start position:0%
that there's a bound on the message
 

00:10:54.560 --> 00:10:56.920 align:start position:0%
that there's a bound on the message
delayed<00:10:54.860><c> so</c><00:10:55.579><c> basically</c><00:10:55.970><c> in</c><00:10:56.149><c> this</c><00:10:56.300><c> case</c><00:10:56.360><c> Alice</c>

00:10:56.920 --> 00:10:56.930 align:start position:0%
delayed so basically in this case Alice
 

00:10:56.930 --> 00:10:58.840 align:start position:0%
delayed so basically in this case Alice
isn't<00:10:57.110><c> mine</c><00:10:57.470><c> she</c><00:10:57.860><c> is</c><00:10:57.920><c> honest</c><00:10:58.399><c> to</c><00:10:58.490><c> herself</c>

00:10:58.840 --> 00:10:58.850 align:start position:0%
isn't mine she is honest to herself
 

00:10:58.850 --> 00:11:00.699 align:start position:0%
isn't mine she is honest to herself
obviously<00:10:59.449><c> and</c><00:10:59.720><c> she's</c><00:11:00.170><c> an</c><00:11:00.290><c> incentive</c><00:11:00.680><c> to</c>

00:11:00.699 --> 00:11:00.709 align:start position:0%
obviously and she's an incentive to
 

00:11:00.709 --> 00:11:02.530 align:start position:0%
obviously and she's an incentive to
claim<00:11:01.100><c> the</c><00:11:01.310><c> coins</c><00:11:01.610><c> on</c><00:11:01.730><c> the</c><00:11:01.819><c> theorem</c><00:11:02.149><c> set</c><00:11:02.329><c> after</c>

00:11:02.530 --> 00:11:02.540 align:start position:0%
claim the coins on the theorem set after
 

00:11:02.540 --> 00:11:04.329 align:start position:0%
claim the coins on the theorem set after
same<00:11:02.690><c> fifth</c><00:11:02.990><c> grade</c><00:11:03.199><c> so</c><00:11:03.560><c> she's</c><00:11:03.829><c> the</c><00:11:04.069><c> one</c><00:11:04.100><c> who</c>

00:11:04.329 --> 00:11:04.339 align:start position:0%
same fifth grade so she's the one who
 

00:11:04.339 --> 00:11:06.579 align:start position:0%
same fifth grade so she's the one who
submits<00:11:04.610><c> the</c><00:11:04.759><c> proof</c><00:11:04.940><c> but</c><00:11:05.930><c> the</c><00:11:05.990><c> problem</c><00:11:06.350><c> is</c><00:11:06.410><c> if</c>

00:11:06.579 --> 00:11:06.589 align:start position:0%
submits the proof but the problem is if
 

00:11:06.589 --> 00:11:07.870 align:start position:0%
submits the proof but the problem is if
we<00:11:06.680><c> do</c><00:11:06.800><c> not</c><00:11:06.949><c> want</c><00:11:07.190><c> to</c><00:11:07.279><c> make</c><00:11:07.370><c> this</c><00:11:07.519><c> assumption</c>

00:11:07.870 --> 00:11:07.880 align:start position:0%
we do not want to make this assumption
 

00:11:07.880 --> 00:11:09.430 align:start position:0%
we do not want to make this assumption
in<00:11:08.089><c> a</c><00:11:08.149><c> synchronous</c><00:11:08.600><c> model</c><00:11:08.930><c> and</c><00:11:09.110><c> we</c><00:11:09.199><c> went</c>

00:11:09.430 --> 00:11:09.440 align:start position:0%
in a synchronous model and we went
 

00:11:09.440 --> 00:11:10.900 align:start position:0%
in a synchronous model and we went
without<00:11:09.589><c> alistair</c><00:11:10.100><c> crash</c><00:11:10.339><c> which</c><00:11:10.759><c> is</c><00:11:10.850><c> the</c>

00:11:10.900 --> 00:11:10.910 align:start position:0%
without alistair crash which is the
 

00:11:10.910 --> 00:11:13.059 align:start position:0%
without alistair crash which is the
typical<00:11:11.180><c> assumption</c><00:11:11.660><c> we</c><00:11:11.720><c> have</c><00:11:11.750><c> to</c><00:11:11.930><c> make</c><00:11:12.110><c> the</c>

00:11:13.059 --> 00:11:13.069 align:start position:0%
typical assumption we have to make the
 

00:11:13.069 --> 00:11:15.160 align:start position:0%
typical assumption we have to make the
only<00:11:13.279><c> other</c><00:11:13.430><c> will</c><00:11:13.639><c> be</c><00:11:13.730><c> to</c><00:11:13.850><c> achieve</c><00:11:14.170><c> actual</c>

00:11:15.160 --> 00:11:15.170 align:start position:0%
only other will be to achieve actual
 

00:11:15.170 --> 00:11:16.629 align:start position:0%
only other will be to achieve actual
cross<00:11:15.380><c> the</c><00:11:15.529><c> correct</c><00:11:15.800><c> Russian</c><00:11:16.100><c> communication</c>

00:11:16.629 --> 00:11:16.639 align:start position:0%
cross the correct Russian communication
 

00:11:16.639 --> 00:11:18.730 align:start position:0%
cross the correct Russian communication
is<00:11:16.970><c> by</c><00:11:17.180><c> having</c><00:11:17.300><c> a</c><00:11:17.509><c> trusted</c><00:11:17.750><c> third</c><00:11:18.079><c> party</c><00:11:18.410><c> which</c>

00:11:18.730 --> 00:11:18.740 align:start position:0%
is by having a trusted third party which
 

00:11:18.740 --> 00:11:21.660 align:start position:0%
is by having a trusted third party which
then<00:11:19.069><c> takes</c><00:11:19.699><c> the</c><00:11:19.970><c> transaction</c><00:11:20.540><c> one</c><00:11:20.779><c> proof</c><00:11:21.230><c> and</c>

00:11:21.660 --> 00:11:21.670 align:start position:0%
then takes the transaction one proof and
 

00:11:21.670 --> 00:11:24.610 align:start position:0%
then takes the transaction one proof and
submits<00:11:22.670><c> it</c><00:11:22.759><c> to</c><00:11:22.819><c> the</c><00:11:22.880><c> smart</c><00:11:23.149><c> contract</c><00:11:23.329><c> or</c><00:11:24.079><c> once</c>

00:11:24.610 --> 00:11:24.620 align:start position:0%
submits it to the smart contract or once
 

00:11:24.620 --> 00:11:25.870 align:start position:0%
submits it to the smart contract or once
never<00:11:24.769><c> trust</c><00:11:25.040><c> a</c><00:11:25.100><c> third</c><00:11:25.220><c> party</c><00:11:25.519><c> you</c><00:11:25.579><c> might</c><00:11:25.759><c> as</c>

00:11:25.870 --> 00:11:25.880 align:start position:0%
never trust a third party you might as
 

00:11:25.880 --> 00:11:27.670 align:start position:0%
never trust a third party you might as
well<00:11:26.029><c> trust</c><00:11:26.329><c> the</c><00:11:26.480><c> third</c><00:11:26.660><c> party</c><00:11:26.959><c> to</c><00:11:27.110><c> be</c><00:11:27.410><c> the</c><00:11:27.529><c> one</c>

00:11:27.670 --> 00:11:27.680 align:start position:0%
well trust the third party to be the one
 

00:11:27.680 --> 00:11:42.670 align:start position:0%
well trust the third party to be the one
who<00:11:27.829><c> locks</c><00:11:28.009><c> the</c><00:11:28.160><c> points</c><00:11:28.490><c> of</c><00:11:28.699><c> the</c><00:11:40.810><c> game</c><00:11:41.810><c> which</c>

00:11:42.670 --> 00:11:42.680 align:start position:0%
who locks the points of the game which
 

00:11:42.680 --> 00:11:47.990 align:start position:0%
who locks the points of the game which
allows<00:11:43.040><c> to</c><00:11:43.610><c> be</c><00:11:43.759><c> just</c><00:11:44.170><c> stratified</c><00:11:45.170><c> like</c>

00:11:47.990 --> 00:11:48.000 align:start position:0%
 
 

00:11:48.000 --> 00:11:52.550 align:start position:0%
 
so<00:11:48.629><c> there's</c><00:11:49.290><c> a</c><00:11:49.410><c> sudden</c><00:11:49.740><c> to</c><00:11:49.829><c> write</c><00:11:50.779><c> his</c><00:11:51.779><c> name</c><00:11:51.930><c> in</c>

00:11:52.550 --> 00:11:52.560 align:start position:0%
so there's a sudden to write his name in
 

00:11:52.560 --> 00:11:54.860 align:start position:0%
so there's a sudden to write his name in
this<00:11:52.709><c> day</c><00:11:52.949><c> so</c><00:11:53.610><c> the</c><00:11:54.000><c> trucks</c><00:11:54.300><c> or</c><00:11:54.509><c> the</c><00:11:54.660><c> trust</c>

00:11:54.860 --> 00:11:54.870 align:start position:0%
this day so the trucks or the trust
 

00:11:54.870 --> 00:11:57.439 align:start position:0%
this day so the trucks or the trust
certify<00:11:55.319><c> in</c><00:11:55.500><c> the</c><00:11:55.620><c> sense</c><00:11:55.829><c> of</c><00:11:55.889><c> disability</c><00:11:56.449><c> mean</c>

00:11:57.439 --> 00:11:57.449 align:start position:0%
certify in the sense of disability mean
 

00:11:57.449 --> 00:11:58.999 align:start position:0%
certify in the sense of disability mean
obviously<00:11:57.839><c> wanted</c><00:11:58.199><c> to</c><00:11:58.290><c> behave</c><00:11:58.500><c> honestly</c><00:11:58.680><c> you</c>

00:11:58.999 --> 00:11:59.009 align:start position:0%
obviously wanted to behave honestly you
 

00:11:59.009 --> 00:12:00.920 align:start position:0%
obviously wanted to behave honestly you
make<00:11:59.160><c> this</c><00:11:59.250><c> assumption</c><00:11:59.610><c> but</c><00:12:00.240><c> if</c><00:12:00.389><c> you</c><00:12:00.540><c> build</c><00:12:00.810><c> a</c>

00:12:00.920 --> 00:12:00.930 align:start position:0%
make this assumption but if you build a
 

00:12:00.930 --> 00:12:02.840 align:start position:0%
make this assumption but if you build a
game<00:12:01.170><c> around</c><00:12:01.439><c> this</c><00:12:01.589><c> trusted</c><00:12:01.980><c> third</c><00:12:02.129><c> party</c><00:12:02.490><c> it</c>

00:12:02.840 --> 00:12:02.850 align:start position:0%
game around this trusted third party it
 

00:12:02.850 --> 00:12:04.579 align:start position:0%
game around this trusted third party it
doesn't<00:12:03.240><c> guarantee</c><00:12:03.389><c> you</c><00:12:03.990><c> that</c><00:12:04.019><c> this</c><00:12:04.259><c> party</c>

00:12:04.579 --> 00:12:04.589 align:start position:0%
doesn't guarantee you that this party
 

00:12:04.589 --> 00:12:05.600 align:start position:0%
doesn't guarantee you that this party
will<00:12:04.680><c> be</c><00:12:04.800><c> a</c><00:12:04.829><c> vomits</c><00:12:05.220><c> her</c>

00:12:05.600 --> 00:12:05.610 align:start position:0%
will be a vomits her
 

00:12:05.610 --> 00:12:09.650 align:start position:0%
will be a vomits her
it's<00:12:05.819><c> just</c><00:12:05.970><c> incentive</c><00:12:07.970><c> exactly</c><00:12:08.970><c> so</c><00:12:09.360><c> if</c><00:12:09.540><c> you</c>

00:12:09.650 --> 00:12:09.660 align:start position:0%
it's just incentive exactly so if you
 

00:12:09.660 --> 00:12:11.540 align:start position:0%
it's just incentive exactly so if you
say<00:12:09.899><c> this</c><00:12:10.199><c> party</c><00:12:10.529><c> must</c><00:12:10.649><c> block</c><00:12:10.860><c> collateral</c><00:12:11.459><c> it</c>

00:12:11.540 --> 00:12:11.550 align:start position:0%
say this party must block collateral it
 

00:12:11.550 --> 00:12:13.970 align:start position:0%
say this party must block collateral it
will<00:12:11.730><c> reimburse</c><00:12:11.939><c> you</c><00:12:12.350><c> you</c><00:12:13.350><c> may</c><00:12:13.500><c> not</c><00:12:13.709><c> face</c>

00:12:13.970 --> 00:12:13.980 align:start position:0%
will reimburse you you may not face
 

00:12:13.980 --> 00:12:15.860 align:start position:0%
will reimburse you you may not face
financial<00:12:14.519><c> damage</c><00:12:14.879><c> but</c><00:12:15.060><c> the</c><00:12:15.149><c> protocol</c><00:12:15.629><c> still</c>

00:12:15.860 --> 00:12:15.870 align:start position:0%
financial damage but the protocol still
 

00:12:15.870 --> 00:12:20.030 align:start position:0%
financial damage but the protocol still
fit<00:12:16.129><c> right</c><00:12:17.129><c> you</c><00:12:17.819><c> still</c><00:12:18.149><c> the</c><00:12:18.329><c> actual</c><00:12:18.839><c> view</c><00:12:19.709><c> me</c>

00:12:20.030 --> 00:12:20.040 align:start position:0%
fit right you still the actual view me
 

00:12:20.040 --> 00:12:28.639 align:start position:0%
fit right you still the actual view me
like<00:12:25.970><c> I'm</c><00:12:26.970><c> not</c><00:12:27.180><c> security</c><00:12:27.540><c> mathematical</c><00:12:28.259><c> let's</c>

00:12:28.639 --> 00:12:28.649 align:start position:0%
like I'm not security mathematical let's
 

00:12:28.649 --> 00:12:30.379 align:start position:0%
like I'm not security mathematical let's
say<00:12:28.800><c> let's</c><00:12:28.949><c> put</c><00:12:29.129><c> it</c><00:12:29.220><c> that</c><00:12:29.250><c> would</c><00:12:29.579><c> trustless</c><00:12:30.089><c> in</c>

00:12:30.379 --> 00:12:30.389 align:start position:0%
say let's put it that would trustless in
 

00:12:30.389 --> 00:12:34.429 align:start position:0%
say let's put it that would trustless in
game<00:12:30.720><c> theory</c><00:12:31.110><c> is</c><00:12:32.389><c> grave</c><00:12:33.389><c> definition</c><00:12:34.199><c> right</c><00:12:34.410><c> I</c>

00:12:34.429 --> 00:12:34.439 align:start position:0%
game theory is grave definition right I
 

00:12:34.439 --> 00:12:36.379 align:start position:0%
game theory is grave definition right I
mean<00:12:34.740><c> essentially</c><00:12:35.160><c> if</c><00:12:35.819><c> you</c><00:12:36.029><c> and</c><00:12:36.209><c> we</c><00:12:36.300><c> have</c>

00:12:36.379 --> 00:12:36.389 align:start position:0%
mean essentially if you and we have
 

00:12:36.389 --> 00:12:38.360 align:start position:0%
mean essentially if you and we have
their<00:12:36.660><c> protocols</c><00:12:37.199><c> which</c><00:12:37.829><c> ensure</c><00:12:38.160><c> that</c><00:12:38.279><c> you</c>

00:12:38.360 --> 00:12:38.370 align:start position:0%
their protocols which ensure that you
 

00:12:38.370 --> 00:12:42.889 align:start position:0%
their protocols which ensure that you
don't<00:12:38.670><c> face</c><00:12:38.850><c> man</c><00:12:40.250><c> like</c><00:12:41.250><c> hence</c><00:12:41.639><c> the</c><00:12:41.819><c> letter</c><00:12:42.029><c> but</c>

00:12:42.889 --> 00:12:42.899 align:start position:0%
don't face man like hence the letter but
 

00:12:42.899 --> 00:12:44.509 align:start position:0%
don't face man like hence the letter but
in<00:12:42.990><c> all</c><00:12:43.110><c> these</c><00:12:43.259><c> protocols</c><00:12:43.560><c> you</c><00:12:44.069><c> have</c><00:12:44.250><c> some</c>

00:12:44.509 --> 00:12:44.519 align:start position:0%
in all these protocols you have some
 

00:12:44.519 --> 00:12:46.040 align:start position:0%
in all these protocols you have some
time<00:12:44.790><c> outs</c><00:12:45.029><c> and</c><00:12:45.180><c> some</c><00:12:45.329><c> time</c><00:12:45.540><c> whoops</c><00:12:45.779><c> and</c><00:12:45.899><c> some</c>

00:12:46.040 --> 00:12:46.050 align:start position:0%
time outs and some time whoops and some
 

00:12:46.050 --> 00:12:47.509 align:start position:0%
time outs and some time whoops and some
synchrony<00:12:46.500><c> assumptions</c><00:12:46.980><c> because</c><00:12:47.310><c> if</c><00:12:47.399><c> you</c>

00:12:47.509 --> 00:12:47.519 align:start position:0%
synchrony assumptions because if you
 

00:12:47.519 --> 00:12:49.579 align:start position:0%
synchrony assumptions because if you
don't<00:12:47.639><c> have</c><00:12:47.790><c> a</c><00:12:47.850><c> synchronous</c><00:12:48.360><c> function</c><00:12:48.750><c> and</c>

00:12:49.579 --> 00:12:49.589 align:start position:0%
don't have a synchronous function and
 

00:12:49.589 --> 00:12:52.309 align:start position:0%
don't have a synchronous function and
bricks<00:12:50.329><c> but</c><00:12:51.329><c> we'll</c><00:12:51.449><c> come</c><00:12:51.660><c> to</c><00:12:51.689><c> that</c><00:12:51.810><c> in</c><00:12:51.990><c> a</c><00:12:52.050><c> bit</c><00:12:52.230><c> I</c>

00:12:52.309 --> 00:12:52.319 align:start position:0%
bricks but we'll come to that in a bit I
 

00:12:52.319 --> 00:12:53.689 align:start position:0%
bricks but we'll come to that in a bit I
mean<00:12:52.470><c> we'll</c><00:12:52.649><c> we'll</c><00:12:52.800><c> discuss</c><00:12:53.100><c> atomic</c><00:12:53.459><c> swaps</c>

00:12:53.689 --> 00:12:53.699 align:start position:0%
mean we'll we'll discuss atomic swaps
 

00:12:53.699 --> 00:12:55.040 align:start position:0%
mean we'll we'll discuss atomic swaps
cryptocurrency<00:12:54.120><c> back</c><00:12:54.420><c> assets</c><00:12:54.839><c> and</c><00:12:54.959><c> you'll</c>

00:12:55.040 --> 00:12:55.050 align:start position:0%
cryptocurrency back assets and you'll
 

00:12:55.050 --> 00:12:56.179 align:start position:0%
cryptocurrency back assets and you'll
see<00:12:55.259><c> where</c><00:12:55.410><c> the</c><00:12:55.500><c> synchronous</c><00:12:55.889><c> assumption</c>

00:12:56.179 --> 00:12:56.189 align:start position:0%
see where the synchronous assumption
 

00:12:56.189 --> 00:12:58.369 align:start position:0%
see where the synchronous assumption
comes<00:12:56.370><c> in</c><00:12:56.519><c> actually</c><00:12:56.850><c> so</c><00:12:57.449><c> your</c><00:12:57.600><c> argument</c><00:12:57.899><c> in</c>

00:12:58.369 --> 00:12:58.379 align:start position:0%
comes in actually so your argument in
 

00:12:58.379 --> 00:13:01.160 align:start position:0%
comes in actually so your argument in
this<00:12:58.529><c> example</c><00:12:58.949><c> was</c><00:12:59.309><c> that</c><00:12:59.670><c> Ellie's</c><00:13:00.420><c> would</c><00:13:00.959><c> not</c>

00:13:01.160 --> 00:13:01.170 align:start position:0%
this example was that Ellie's would not
 

00:13:01.170 --> 00:13:04.010 align:start position:0%
this example was that Ellie's would not
be<00:13:01.319><c> able</c><00:13:01.500><c> to</c><00:13:01.709><c> do</c><00:13:02.009><c> that</c>

00:13:04.010 --> 00:13:04.020 align:start position:0%
be able to do that
 

00:13:04.020 --> 00:13:06.710 align:start position:0%
be able to do that
third<00:13:04.320><c> party</c><00:13:04.700><c> so</c><00:13:05.700><c> the</c><00:13:05.850><c> thing</c><00:13:06.029><c> is</c><00:13:06.180><c> in</c><00:13:06.480><c> this</c>

00:13:06.710 --> 00:13:06.720 align:start position:0%
third party so the thing is in this
 

00:13:06.720 --> 00:13:09.230 align:start position:0%
third party so the thing is in this
model<00:13:07.140><c> you</c><00:13:07.800><c> must</c><00:13:07.980><c> allow</c><00:13:08.250><c> Alistair</c><00:13:08.670><c> krei</c><00:13:08.880><c> right</c>

00:13:09.230 --> 00:13:09.240 align:start position:0%
model you must allow Alistair krei right
 

00:13:09.240 --> 00:13:12.199 align:start position:0%
model you must allow Alistair krei right
cannot<00:13:09.870><c> assume</c><00:13:10.140><c> I</c><00:13:10.320><c> if</c><00:13:10.500><c> we</c><00:13:10.529><c> assume</c><00:13:10.890><c> that</c><00:13:11.209><c> the</c>

00:13:12.199 --> 00:13:12.209 align:start position:0%
cannot assume I if we assume that the
 

00:13:12.209 --> 00:13:17.780 align:start position:0%
cannot assume I if we assume that the
amount<00:13:12.420><c> of</c><00:13:12.510><c> time</c><00:13:16.070><c> international</c><00:13:17.070><c> approaches</c>

00:13:17.780 --> 00:13:17.790 align:start position:0%
amount of time international approaches
 

00:13:17.790 --> 00:13:19.220 align:start position:0%
amount of time international approaches
in<00:13:17.880><c> the</c><00:13:17.940><c> second</c><00:13:18.209><c> and</c><00:13:18.330><c> I'll</c><00:13:18.420><c> actually</c><00:13:18.630><c> have</c><00:13:19.080><c> an</c>

00:13:19.220 --> 00:13:19.230 align:start position:0%
in the second and I'll actually have an
 

00:13:19.230 --> 00:13:21.829 align:start position:0%
in the second and I'll actually have an
example<00:13:19.529><c> way</c><00:13:19.770><c> to</c><00:13:20.220><c> still</c><00:13:20.430><c> at</c><00:13:20.520><c> the</c><00:13:20.610><c> problem</c><00:13:20.970><c> but</c>

00:13:21.829 --> 00:13:21.839 align:start position:0%
example way to still at the problem but
 

00:13:21.839 --> 00:13:23.750 align:start position:0%
example way to still at the problem but
essentially<00:13:22.200><c> the</c><00:13:22.529><c> problem</c><00:13:22.830><c> your</c><00:13:23.160><c> problem</c><00:13:23.640><c> but</c>

00:13:23.750 --> 00:13:23.760 align:start position:0%
essentially the problem your problem but
 

00:13:23.760 --> 00:13:26.990 align:start position:0%
essentially the problem your problem but
I<00:13:23.820><c> mean</c><00:13:24.500><c> not</c><00:13:25.500><c> exactly</c><00:13:25.620><c> that's</c><00:13:26.430><c> also</c><00:13:26.790><c> a</c><00:13:26.820><c> problem</c>

00:13:26.990 --> 00:13:27.000 align:start position:0%
I mean not exactly that's also a problem
 

00:13:27.000 --> 00:13:29.180 align:start position:0%
I mean not exactly that's also a problem
but<00:13:27.750><c> in</c><00:13:27.870><c> half</c><00:13:28.050><c> my</c><00:13:28.290><c> contracts</c><00:13:28.830><c> they</c><00:13:28.980><c> only</c>

00:13:29.180 --> 00:13:29.190 align:start position:0%
but in half my contracts they only
 

00:13:29.190 --> 00:13:31.340 align:start position:0%
but in half my contracts they only
ensure<00:13:29.430><c> that</c><00:13:29.670><c> you</c><00:13:30.360><c> cannot</c><00:13:30.600><c> steal</c><00:13:30.990><c> it</c><00:13:31.230><c> was</c>

00:13:31.340 --> 00:13:31.350 align:start position:0%
ensure that you cannot steal it was
 

00:13:31.350 --> 00:13:33.230 align:start position:0%
ensure that you cannot steal it was
behave<00:13:31.680><c> within</c><00:13:32.130><c> a</c><00:13:32.339><c> certain</c><00:13:32.520><c> period</c><00:13:32.850><c> of</c><00:13:33.000><c> time</c>

00:13:33.230 --> 00:13:33.240 align:start position:0%
behave within a certain period of time
 

00:13:33.240 --> 00:13:35.150 align:start position:0%
behave within a certain period of time
but<00:13:33.720><c> if</c><00:13:33.870><c> you</c><00:13:33.990><c> crash</c><00:13:34.260><c> in</c><00:13:34.440><c> the</c><00:13:34.529><c> time</c><00:13:34.680><c> of</c><00:13:34.709><c> expires</c>

00:13:35.150 --> 00:13:35.160 align:start position:0%
but if you crash in the time of expires
 

00:13:35.160 --> 00:13:37.220 align:start position:0%
but if you crash in the time of expires
it<00:13:35.339><c> still</c><00:13:35.550><c> fit</c><00:13:35.760><c> there's</c><00:13:36.390><c> a</c><00:13:36.450><c> specific</c><00:13:36.959><c> example</c>

00:13:37.220 --> 00:13:37.230 align:start position:0%
it still fit there's a specific example
 

00:13:37.230 --> 00:13:42.440 align:start position:0%
it still fit there's a specific example
of<00:13:37.529><c> this</c><00:13:38.209><c> yeah</c><00:13:39.380><c> okay</c><00:13:40.380><c> sorry</c><00:13:41.100><c> question</c><00:13:41.850><c> yeah</c>

00:13:42.440 --> 00:13:42.450 align:start position:0%
of this yeah okay sorry question yeah
 

00:13:42.450 --> 00:13:44.300 align:start position:0%
of this yeah okay sorry question yeah
can<00:13:42.750><c> you</c><00:13:42.779><c> talk</c><00:13:42.959><c> a</c><00:13:42.990><c> little</c><00:13:43.080><c> bit</c><00:13:43.320><c> about</c><00:13:43.410><c> how</c>

00:13:44.300 --> 00:13:44.310 align:start position:0%
can you talk a little bit about how
 

00:13:44.310 --> 00:13:47.630 align:start position:0%
can you talk a little bit about how
important<00:13:44.850><c> it</c><00:13:44.970><c> is</c><00:13:45.060><c> for</c><00:13:45.120><c> us</c><00:13:45.420><c> to</c><00:13:46.310><c> not</c><00:13:47.310><c> rely</c><00:13:47.610><c> on</c>

00:13:47.630 --> 00:13:47.640 align:start position:0%
important it is for us to not rely on
 

00:13:47.640 --> 00:13:51.740 align:start position:0%
important it is for us to not rely on
the<00:13:47.790><c> synchrony</c><00:13:48.270><c> assumption</c><00:13:48.750><c> and</c><00:13:49.290><c> like</c><00:13:49.620><c> why</c><00:13:50.750><c> I</c>

00:13:51.740 --> 00:13:51.750 align:start position:0%
the synchrony assumption and like why I
 

00:13:51.750 --> 00:13:55.519 align:start position:0%
the synchrony assumption and like why I
mean<00:13:52.709><c> the</c><00:13:52.830><c> thing</c><00:13:53.010><c> is</c><00:13:53.040><c> so</c><00:13:54.080><c> anyway</c><00:13:55.080><c> we</c><00:13:55.200><c> design</c>

00:13:55.519 --> 00:13:55.529 align:start position:0%
mean the thing is so anyway we design
 

00:13:55.529 --> 00:13:57.620 align:start position:0%
mean the thing is so anyway we design
protocols<00:13:55.920><c> often</c><00:13:56.880><c> we</c><00:13:57.000><c> make</c><00:13:57.180><c> the</c><00:13:57.360><c> assumption</c>

00:13:57.620 --> 00:13:57.630 align:start position:0%
protocols often we make the assumption
 

00:13:57.630 --> 00:13:59.060 align:start position:0%
protocols often we make the assumption
that<00:13:57.779><c> we</c><00:13:58.020><c> have</c><00:13:58.050><c> a</c><00:13:58.170><c> synchronous</c><00:13:58.680><c> the</c><00:13:58.770><c> network</c>

00:13:59.060 --> 00:13:59.070 align:start position:0%
that we have a synchronous the network
 

00:13:59.070 --> 00:14:00.590 align:start position:0%
that we have a synchronous the network
model<00:13:59.370><c> because</c><00:13:59.640><c> it's</c><00:13:59.790><c> way</c><00:13:59.940><c> easier</c><00:14:00.270><c> to</c><00:14:00.360><c> design</c>

00:14:00.590 --> 00:14:00.600 align:start position:0%
model because it's way easier to design
 

00:14:00.600 --> 00:14:02.090 align:start position:0%
model because it's way easier to design
these<00:14:00.779><c> things</c><00:14:00.839><c> right</c><00:14:01.200><c> we</c><00:14:01.380><c> assume</c><00:14:01.649><c> that</c><00:14:01.680><c> if</c><00:14:01.980><c> I</c>

00:14:02.090 --> 00:14:02.100 align:start position:0%
these things right we assume that if I
 

00:14:02.100 --> 00:14:03.949 align:start position:0%
these things right we assume that if I
send<00:14:02.279><c> a</c><00:14:02.370><c> message</c><00:14:02.700><c> at</c><00:14:02.910><c> some</c><00:14:03.209><c> point</c><00:14:03.540><c> you</c><00:14:03.810><c> will</c>

00:14:03.949 --> 00:14:03.959 align:start position:0%
send a message at some point you will
 

00:14:03.959 --> 00:14:06.350 align:start position:0%
send a message at some point you will
receive<00:14:04.520><c> however</c><00:14:05.520><c> if</c><00:14:05.700><c> we</c><00:14:05.820><c> cannot</c><00:14:06.060><c> make</c><00:14:06.240><c> this</c>

00:14:06.350 --> 00:14:06.360 align:start position:0%
receive however if we cannot make this
 

00:14:06.360 --> 00:14:09.139 align:start position:0%
receive however if we cannot make this
assumption<00:14:06.830><c> then</c><00:14:07.830><c> I</c><00:14:07.890><c> do</c><00:14:08.040><c> not</c><00:14:08.279><c> know</c><00:14:08.579><c> and</c><00:14:09.000><c> that</c>

00:14:09.139 --> 00:14:09.149 align:start position:0%
assumption then I do not know and that
 

00:14:09.149 --> 00:14:10.370 align:start position:0%
assumption then I do not know and that
we<00:14:09.270><c> assume</c><00:14:09.480><c> that</c><00:14:09.540><c> nodes</c><00:14:09.870><c> to</c><00:14:09.990><c> be</c><00:14:10.020><c> malicious</c>

00:14:10.370 --> 00:14:10.380 align:start position:0%
we assume that nodes to be malicious
 

00:14:10.380 --> 00:14:13.130 align:start position:0%
we assume that nodes to be malicious
then<00:14:11.100><c> I</c><00:14:11.130><c> do</c><00:14:11.310><c> not</c><00:14:11.520><c> know</c><00:14:11.850><c> if</c><00:14:12.089><c> your</c><00:14:12.240><c> malicious</c><00:14:12.750><c> or</c>

00:14:13.130 --> 00:14:13.140 align:start position:0%
then I do not know if your malicious or
 

00:14:13.140 --> 00:14:14.569 align:start position:0%
then I do not know if your malicious or
you<00:14:13.230><c> just</c><00:14:13.440><c> did</c><00:14:13.529><c> not</c><00:14:13.649><c> get</c><00:14:13.829><c> the</c><00:14:13.890><c> message</c><00:14:14.130><c> there's</c>

00:14:14.569 --> 00:14:14.579 align:start position:0%
you just did not get the message there's
 

00:14:14.579 --> 00:14:16.670 align:start position:0%
you just did not get the message there's
a<00:14:14.640><c> really</c><00:14:15.149><c> famous</c><00:14:15.300><c> FOP</c><00:14:15.839><c> miscibility</c><00:14:16.230><c> result</c>

00:14:16.670 --> 00:14:16.680 align:start position:0%
a really famous FOP miscibility result
 

00:14:16.680 --> 00:14:18.440 align:start position:0%
a really famous FOP miscibility result
by<00:14:17.430><c> Mansu</c><00:14:17.790><c> inch</c><00:14:17.970><c> which</c><00:14:18.180><c> should</c><00:14:18.300><c> actually</c>

00:14:18.440 --> 00:14:18.450 align:start position:0%
by Mansu inch which should actually
 

00:14:18.450 --> 00:14:21.500 align:start position:0%
by Mansu inch which should actually
states<00:14:19.040><c> consensus</c><00:14:20.040><c> is</c><00:14:20.310><c> impossible</c><00:14:21.270><c> in</c><00:14:21.390><c> the</c>

00:14:21.500 --> 00:14:21.510 align:start position:0%
states consensus is impossible in the
 

00:14:21.510 --> 00:14:23.180 align:start position:0%
states consensus is impossible in the
system<00:14:21.959><c> where</c><00:14:22.140><c> you</c><00:14:22.170><c> have</c><00:14:22.350><c> more</c><00:14:22.680><c> than</c><00:14:22.800><c> one</c><00:14:22.980><c> but</c>

00:14:23.180 --> 00:14:23.190 align:start position:0%
system where you have more than one but
 

00:14:23.190 --> 00:14:24.920 align:start position:0%
system where you have more than one but
these<00:14:23.370><c> ones</c><00:14:23.579><c> also</c><00:14:23.970><c> note</c><00:14:24.120><c> if</c><00:14:24.630><c> it's</c><00:14:24.839><c> a</c>

00:14:24.920 --> 00:14:24.930 align:start position:0%
these ones also note if it's a
 

00:14:24.930 --> 00:14:26.780 align:start position:0%
these ones also note if it's a
synchronous<00:14:25.350><c> because</c><00:14:25.800><c> again</c><00:14:26.190><c> I</c><00:14:26.339><c> send</c><00:14:26.579><c> you</c><00:14:26.670><c> the</c>

00:14:26.780 --> 00:14:26.790 align:start position:0%
synchronous because again I send you the
 

00:14:26.790 --> 00:14:28.010 align:start position:0%
synchronous because again I send you the
message<00:14:26.940><c> but</c><00:14:27.300><c> if</c><00:14:27.390><c> I</c><00:14:27.510><c> cannot</c><00:14:27.720><c> make</c><00:14:27.899><c> an</c>

00:14:28.010 --> 00:14:28.020 align:start position:0%
message but if I cannot make an
 

00:14:28.020 --> 00:14:29.660 align:start position:0%
message but if I cannot make an
assumption<00:14:28.320><c> I</c><00:14:28.470><c> don't</c><00:14:28.770><c> know</c><00:14:28.950><c> whether</c><00:14:29.490><c> you</c>

00:14:29.660 --> 00:14:29.670 align:start position:0%
assumption I don't know whether you
 

00:14:29.670 --> 00:14:31.940 align:start position:0%
assumption I don't know whether you
received<00:14:30.029><c> it</c><00:14:30.180><c> or</c><00:14:30.270><c> not</c><00:14:30.420><c> I</c><00:14:30.720><c> don't</c><00:14:31.649><c> know</c><00:14:31.709><c> maybe</c>

00:14:31.940 --> 00:14:31.950 align:start position:0%
received it or not I don't know maybe
 

00:14:31.950 --> 00:14:33.530 align:start position:0%
received it or not I don't know maybe
your<00:14:32.220><c> malicious</c><00:14:32.610><c> and</c><00:14:32.790><c> you</c><00:14:32.850><c> were</c><00:14:32.910><c> just</c><00:14:33.060><c> you</c>

00:14:33.530 --> 00:14:33.540 align:start position:0%
your malicious and you were just you
 

00:14:33.540 --> 00:14:35.600 align:start position:0%
your malicious and you were just you
know<00:14:33.570><c> pretending</c><00:14:34.230><c> not</c><00:14:34.380><c> to</c><00:14:34.440><c> know</c><00:14:34.649><c> it</c><00:14:34.680><c> or</c><00:14:35.339><c> the</c>

00:14:35.600 --> 00:14:35.610 align:start position:0%
know pretending not to know it or the
 

00:14:35.610 --> 00:14:37.630 align:start position:0%
know pretending not to know it or the
network<00:14:35.820><c> actually</c><00:14:36.390><c> has</c><00:14:36.720><c> a</c><00:14:36.750><c> huge</c><00:14:37.050><c> delay</c>

00:14:37.630 --> 00:14:37.640 align:start position:0%
network actually has a huge delay
 

00:14:37.640 --> 00:14:39.949 align:start position:0%
network actually has a huge delay
usually<00:14:38.640><c> the</c><00:14:38.790><c> synchronous</c><00:14:39.300><c> and</c><00:14:39.570><c> network</c>

00:14:39.949 --> 00:14:39.959 align:start position:0%
usually the synchronous and network
 

00:14:39.959 --> 00:14:41.660 align:start position:0%
usually the synchronous and network
assumption<00:14:40.649><c> and</c><00:14:40.829><c> not</c><00:14:40.950><c> participant</c>

00:14:41.660 --> 00:14:41.670 align:start position:0%
assumption and not participant
 

00:14:41.670 --> 00:14:43.610 align:start position:0%
assumption and not participant
assumption<00:14:42.089><c> sounds</c><00:14:42.870><c> like</c><00:14:43.020><c> here</c><00:14:43.320><c> it's</c><00:14:43.470><c> an</c>

00:14:43.610 --> 00:14:43.620 align:start position:0%
assumption sounds like here it's an
 

00:14:43.620 --> 00:14:45.740 align:start position:0%
assumption sounds like here it's an
assumption<00:14:43.920><c> regarding</c><00:14:44.130><c> Alice</c><00:14:44.760><c> so</c><00:14:44.970><c> I</c><00:14:45.000><c> was</c><00:14:45.360><c> just</c>

00:14:45.740 --> 00:14:45.750 align:start position:0%
assumption regarding Alice so I was just
 

00:14:45.750 --> 00:14:48.680 align:start position:0%
assumption regarding Alice so I was just
one<00:14:45.930><c> day</c><00:14:46.140><c> affair</c><00:14:46.320><c> which</c><00:14:46.860><c> one</c><00:14:47.100><c> is</c><00:14:47.270><c> in</c><00:14:48.270><c> this</c><00:14:48.450><c> case</c>

00:14:48.680 --> 00:14:48.690 align:start position:0%
one day affair which one is in this case
 

00:14:48.690 --> 00:14:51.199 align:start position:0%
one day affair which one is in this case
I<00:14:48.930><c> mean</c><00:14:49.079><c> it's</c><00:14:49.380><c> both</c><00:14:49.649><c> because</c><00:14:50.279><c> you</c><00:14:50.760><c> need</c><00:14:50.940><c> now</c><00:14:51.060><c> is</c>

00:14:51.199 --> 00:14:51.209 align:start position:0%
I mean it's both because you need now is
 

00:14:51.209 --> 00:14:52.940 align:start position:0%
I mean it's both because you need now is
beyond<00:14:51.540><c> light</c><00:14:51.750><c> which</c><00:14:52.320><c> is</c><00:14:52.470><c> because</c><00:14:52.740><c> your</c><00:14:52.860><c> she</c>

00:14:52.940 --> 00:14:52.950 align:start position:0%
beyond light which is because your she
 

00:14:52.950 --> 00:14:54.410 align:start position:0%
beyond light which is because your she
needs<00:14:53.130><c> to</c><00:14:53.190><c> send</c><00:14:53.339><c> a</c><00:14:53.430><c> messenger</c><00:14:53.700><c> but</c><00:14:54.089><c> you</c><00:14:54.240><c> can</c>

00:14:54.410 --> 00:14:54.420 align:start position:0%
needs to send a messenger but you can
 

00:14:54.420 --> 00:14:57.050 align:start position:0%
needs to send a messenger but you can
usually<00:14:54.570><c> ensure</c><00:14:55.110><c> that</c><00:14:55.339><c> somehow</c><00:14:56.339><c> but</c><00:14:56.700><c> if</c><00:14:56.910><c> the</c>

00:14:57.050 --> 00:14:57.060 align:start position:0%
usually ensure that somehow but if the
 

00:14:57.060 --> 00:14:57.460 align:start position:0%
usually ensure that somehow but if the
now

00:14:57.460 --> 00:14:57.470 align:start position:0%
now
 

00:14:57.470 --> 00:14:59.050 align:start position:0%
now
we<00:14:57.800><c> don't</c><00:14:58.160><c> have</c><00:14:58.280><c> the</c><00:14:58.400><c> super</c><00:14:58.610><c> new</c><00:14:58.790><c> assumptions</c>

00:14:59.050 --> 00:14:59.060 align:start position:0%
we don't have the super new assumptions
 

00:14:59.060 --> 00:15:01.330 align:start position:0%
we don't have the super new assumptions
and<00:14:59.420><c> it's</c><00:14:59.600><c> hard</c><00:15:00.070><c> yes</c>

00:15:01.330 --> 00:15:01.340 align:start position:0%
and it's hard yes
 

00:15:01.340 --> 00:15:03.160 align:start position:0%
and it's hard yes
so<00:15:01.520><c> the</c><00:15:01.910><c> problems</c><00:15:02.330><c> within</c><00:15:02.540><c> a</c><00:15:02.660><c> single</c><00:15:02.870><c> system</c>

00:15:03.160 --> 00:15:03.170 align:start position:0%
so the problems within a single system
 

00:15:03.170 --> 00:15:05.470 align:start position:0%
so the problems within a single system
you<00:15:03.530><c> you</c><00:15:04.340><c> can</c><00:15:04.550><c> try</c><00:15:04.760><c> to</c><00:15:04.820><c> ensure</c><00:15:05.030><c> that</c><00:15:05.150><c> Alice</c>

00:15:05.470 --> 00:15:05.480 align:start position:0%
you you can try to ensure that Alice
 

00:15:05.480 --> 00:15:06.790 align:start position:0%
you you can try to ensure that Alice
sends<00:15:05.840><c> the</c><00:15:05.960><c> message</c><00:15:06.230><c> or</c><00:15:06.350><c> something</c><00:15:06.470><c> that's</c>

00:15:06.790 --> 00:15:06.800 align:start position:0%
sends the message or something that's
 

00:15:06.800 --> 00:15:08.440 align:start position:0%
sends the message or something that's
the<00:15:06.950><c> time</c><00:15:07.160><c> and</c><00:15:07.400><c> such</c><00:15:07.640><c> right</c><00:15:07.880><c> at</c><00:15:08.000><c> some</c><00:15:08.180><c> point</c>

00:15:08.440 --> 00:15:08.450 align:start position:0%
the time and such right at some point
 

00:15:08.450 --> 00:15:10.570 align:start position:0%
the time and such right at some point
Alice<00:15:08.750><c> read</c><00:15:08.990><c> the</c><00:15:09.110><c> message</c><00:15:09.410><c> but</c><00:15:10.130><c> here</c><00:15:10.280><c> we</c><00:15:10.400><c> kind</c>

00:15:10.570 --> 00:15:10.580 align:start position:0%
Alice read the message but here we kind
 

00:15:10.580 --> 00:15:13.630 align:start position:0%
Alice read the message but here we kind
of<00:15:10.700><c> have</c><00:15:10.760><c> two</c><00:15:11.120><c> separate</c><00:15:11.450><c> systems</c><00:15:11.690><c> so</c><00:15:12.400><c> if</c><00:15:13.400><c> two</c>

00:15:13.630 --> 00:15:13.640 align:start position:0%
of have two separate systems so if two
 

00:15:13.640 --> 00:15:15.670 align:start position:0%
of have two separate systems so if two
separate<00:15:13.970><c> networks</c><00:15:14.060><c> but</c><00:15:14.930><c> yeah</c><00:15:15.050><c> I</c><00:15:15.080><c> see</c><00:15:15.560><c> the</c>

00:15:15.670 --> 00:15:15.680 align:start position:0%
separate networks but yeah I see the
 

00:15:15.680 --> 00:15:17.620 align:start position:0%
separate networks but yeah I see the
question<00:15:15.860><c> the</c><00:15:16.790><c> Phoenicians</c><00:15:17.210><c> are</c><00:15:17.270><c> more</c><00:15:17.420><c> clear</c>

00:15:17.620 --> 00:15:17.630 align:start position:0%
question the Phoenicians are more clear
 

00:15:17.630 --> 00:15:19.900 align:start position:0%
question the Phoenicians are more clear
than<00:15:17.780><c> paper</c><00:15:17.960><c> hopefully</c><00:15:18.380><c> it's</c><00:15:18.890><c> just</c><00:15:18.980><c> it's</c><00:15:19.670><c> not</c>

00:15:19.900 --> 00:15:19.910 align:start position:0%
than paper hopefully it's just it's not
 

00:15:19.910 --> 00:15:21.370 align:start position:0%
than paper hopefully it's just it's not
an<00:15:20.030><c> easy</c><00:15:20.180><c> thing</c><00:15:20.450><c> to</c><00:15:20.510><c> just</c><00:15:20.810><c> explain</c><00:15:21.140><c> by</c>

00:15:21.370 --> 00:15:21.380 align:start position:0%
an easy thing to just explain by
 

00:15:21.380 --> 00:15:24.100 align:start position:0%
an easy thing to just explain by
intuition<00:15:21.620><c> but</c><00:15:22.370><c> I</c><00:15:22.640><c> hope</c><00:15:23.120><c> this</c><00:15:23.330><c> kind</c><00:15:23.720><c> of</c><00:15:23.930><c> makes</c>

00:15:24.100 --> 00:15:24.110 align:start position:0%
intuition but I hope this kind of makes
 

00:15:24.110 --> 00:15:24.760 align:start position:0%
intuition but I hope this kind of makes
sense<00:15:24.230><c> to</c><00:15:24.440><c> everyone</c>

00:15:24.760 --> 00:15:24.770 align:start position:0%
sense to everyone
 

00:15:24.770 --> 00:15:30.100 align:start position:0%
sense to everyone
are<00:15:25.130><c> they</c><00:15:25.370><c> any</c><00:15:25.430><c> more</c><00:15:25.610><c> questions</c><00:15:28.630><c> okay</c><00:15:29.630><c> so</c><00:15:29.690><c> if</c>

00:15:30.100 --> 00:15:30.110 align:start position:0%
are they any more questions okay so if
 

00:15:30.110 --> 00:15:31.450 align:start position:0%
are they any more questions okay so if
you<00:15:30.290><c> have</c><00:15:30.380><c> questions</c><00:15:30.710><c> you'll</c><00:15:30.860><c> just</c><00:15:31.280><c> have</c><00:15:31.400><c> to</c>

00:15:31.450 --> 00:15:31.460 align:start position:0%
you have questions you'll just have to
 

00:15:31.460 --> 00:15:36.430 align:start position:0%
you have questions you'll just have to
trust<00:15:33.850><c> so</c><00:15:34.850><c> yeah</c><00:15:35.060><c> we</c><00:15:35.420><c> conjecture</c><00:15:35.660><c> that</c><00:15:36.170><c> it's</c><00:15:36.350><c> a</c>

00:15:36.430 --> 00:15:36.440 align:start position:0%
trust so yeah we conjecture that it's a
 

00:15:36.440 --> 00:15:37.990 align:start position:0%
trust so yeah we conjecture that it's a
coolant<00:15:36.710><c> and</c><00:15:36.860><c> then</c><00:15:36.980><c> there's</c><00:15:37.280><c> a</c><00:15:37.340><c> discussion</c><00:15:37.520><c> in</c>

00:15:37.990 --> 00:15:38.000 align:start position:0%
coolant and then there's a discussion in
 

00:15:38.000 --> 00:15:40.450 align:start position:0%
coolant and then there's a discussion in
the<00:15:38.030><c> 1999</c><00:15:38.870><c> impossibility</c><00:15:39.710><c> result</c><00:15:40.130><c> on</c><00:15:40.280><c> why</c>

00:15:40.450 --> 00:15:40.460 align:start position:0%
the 1999 impossibility result on why
 

00:15:40.460 --> 00:15:42.420 align:start position:0%
the 1999 impossibility result on why
this<00:15:40.520><c> is</c><00:15:40.760><c> the</c><00:15:40.880><c> case</c><00:15:41.030><c> and</c><00:15:41.360><c> they</c><00:15:41.690><c> try</c><00:15:41.870><c> to</c><00:15:41.900><c> give</c><00:15:42.170><c> a</c>

00:15:42.420 --> 00:15:42.430 align:start position:0%
this is the case and they try to give a
 

00:15:42.430 --> 00:15:44.950 align:start position:0%
this is the case and they try to give a
similar<00:15:43.430><c> explanation</c><00:15:44.060><c> of</c><00:15:44.210><c> why</c><00:15:44.420><c> actually</c>

00:15:44.950 --> 00:15:44.960 align:start position:0%
similar explanation of why actually
 

00:15:44.960 --> 00:15:46.990 align:start position:0%
similar explanation of why actually
having<00:15:45.260><c> a</c><00:15:45.350><c> synchronous</c><00:15:45.890><c> model</c><00:15:46.280><c> is</c><00:15:46.700><c> very</c>

00:15:46.990 --> 00:15:47.000 align:start position:0%
having a synchronous model is very
 

00:15:47.000 --> 00:15:48.610 align:start position:0%
having a synchronous model is very
similar<00:15:47.360><c> to</c><00:15:47.570><c> having</c><00:15:47.660><c> a</c><00:15:47.870><c> trust</c><00:15:48.080><c> a</c><00:15:48.170><c> third</c><00:15:48.290><c> party</c>

00:15:48.610 --> 00:15:48.620 align:start position:0%
similar to having a trust a third party
 

00:15:48.620 --> 00:15:50.860 align:start position:0%
similar to having a trust a third party
friend<00:15:48.860><c> cuz</c><00:15:49.370><c> again</c><00:15:49.550><c> Alice</c><00:15:50.060><c> if</c><00:15:50.300><c> she</c><00:15:50.510><c> has</c><00:15:50.600><c> to</c><00:15:50.780><c> be</c>

00:15:50.860 --> 00:15:50.870 align:start position:0%
friend cuz again Alice if she has to be
 

00:15:50.870 --> 00:15:53.290 align:start position:0%
friend cuz again Alice if she has to be
online<00:15:51.020><c> and</c><00:15:51.770><c> we</c><00:15:51.920><c> must</c><00:15:52.430><c> expect</c><00:15:52.850><c> the</c><00:15:53.030><c> message</c>

00:15:53.290 --> 00:15:53.300 align:start position:0%
online and we must expect the message
 

00:15:53.300 --> 00:15:55.240 align:start position:0%
online and we must expect the message
will<00:15:53.480><c> be</c><00:15:53.510><c> delivered</c><00:15:53.690><c> on</c><00:15:54.020><c> time</c><00:15:54.050><c> it's</c><00:15:54.830><c> the</c><00:15:54.980><c> same</c>

00:15:55.240 --> 00:15:55.250 align:start position:0%
will be delivered on time it's the same
 

00:15:55.250 --> 00:15:57.670 align:start position:0%
will be delivered on time it's the same
thing<00:15:55.610><c> as</c><00:15:56.270><c> if</c><00:15:56.960><c> we</c><00:15:57.020><c> have</c><00:15:57.170><c> a</c><00:15:57.200><c> trust</c><00:15:57.410><c> with</c><00:15:57.530><c> their</c>

00:15:57.670 --> 00:15:57.680 align:start position:0%
thing as if we have a trust with their
 

00:15:57.680 --> 00:15:59.350 align:start position:0%
thing as if we have a trust with their
price<00:15:57.890><c> for</c><00:15:58.550><c> the</c><00:15:58.610><c> trusted</c><00:15:58.910><c> third</c><00:15:58.940><c> parties</c>

00:15:59.350 --> 00:15:59.360 align:start position:0%
price for the trusted third parties
 

00:15:59.360 --> 00:16:01.720 align:start position:0%
price for the trusted third parties
online<00:15:59.690><c> and</c><00:15:59.930><c> it</c><00:16:00.020><c> ensures</c><00:16:00.530><c> that</c><00:16:00.680><c> messages</c><00:16:01.220><c> are</c>

00:16:01.720 --> 00:16:01.730 align:start position:0%
online and it ensures that messages are
 

00:16:01.730 --> 00:16:03.160 align:start position:0%
online and it ensures that messages are
delivered<00:16:01.850><c> on</c><00:16:02.150><c> time</c><00:16:02.210><c> and</c><00:16:02.390><c> ensures</c><00:16:02.990><c> that</c><00:16:03.020><c> a</c>

00:16:03.160 --> 00:16:03.170 align:start position:0%
delivered on time and ensures that a
 

00:16:03.170 --> 00:16:05.920 align:start position:0%
delivered on time and ensures that a
vertical<00:16:03.320><c> progresses</c><00:16:04.210><c> if</c><00:16:05.210><c> we</c><00:16:05.390><c> have</c><00:16:05.510><c> assumes</c>

00:16:05.920 --> 00:16:05.930 align:start position:0%
vertical progresses if we have assumes
 

00:16:05.930 --> 00:16:08.380 align:start position:0%
vertical progresses if we have assumes
if<00:16:06.170><c> we</c><00:16:06.290><c> assume</c><00:16:06.500><c> synchrony</c><00:16:07.130><c> Alice's</c><00:16:08.090><c> her</c><00:16:08.270><c> own</c>

00:16:08.380 --> 00:16:08.390 align:start position:0%
if we assume synchrony Alice's her own
 

00:16:08.390 --> 00:16:10.270 align:start position:0%
if we assume synchrony Alice's her own
third<00:16:08.630><c> party</c><00:16:08.960><c> where</c><00:16:09.590><c> she</c><00:16:09.770><c> trusts</c><00:16:10.160><c> herself</c>

00:16:10.270 --> 00:16:10.280 align:start position:0%
third party where she trusts herself
 

00:16:10.280 --> 00:16:12.130 align:start position:0%
third party where she trusts herself
because<00:16:10.850><c> she</c><00:16:10.970><c> knows</c><00:16:11.090><c> she'll</c><00:16:11.360><c> be</c><00:16:11.510><c> online</c><00:16:11.660><c> and</c>

00:16:12.130 --> 00:16:12.140 align:start position:0%
because she knows she'll be online and
 

00:16:12.140 --> 00:16:14.770 align:start position:0%
because she knows she'll be online and
necessarily<00:16:12.890><c> deliver</c><00:16:13.300><c> so</c><00:16:14.300><c> if</c><00:16:14.420><c> you</c><00:16:14.570><c> it's</c>

00:16:14.770 --> 00:16:14.780 align:start position:0%
necessarily deliver so if you it's
 

00:16:14.780 --> 00:16:16.300 align:start position:0%
necessarily deliver so if you it's
basically<00:16:14.990><c> it's</c><00:16:15.530><c> the</c><00:16:15.650><c> same</c><00:16:15.860><c> thing</c><00:16:16.130><c> whether</c>

00:16:16.300 --> 00:16:16.310 align:start position:0%
basically it's the same thing whether
 

00:16:16.310 --> 00:16:17.710 align:start position:0%
basically it's the same thing whether
you<00:16:16.490><c> some</c><00:16:16.640><c> interested</c><00:16:17.000><c> third</c><00:16:17.120><c> party</c><00:16:17.390><c> or</c><00:16:17.600><c> you</c>

00:16:17.710 --> 00:16:17.720 align:start position:0%
you some interested third party or you
 

00:16:17.720 --> 00:16:20.170 align:start position:0%
you some interested third party or you
some<00:16:17.900><c> sequences</c><00:16:18.500><c> bond</c><00:16:19.010><c> Theory</c><00:16:19.340><c> respect</c><00:16:19.760><c> now</c>

00:16:20.170 --> 00:16:20.180 align:start position:0%
some sequences bond Theory respect now
 

00:16:20.180 --> 00:16:21.970 align:start position:0%
some sequences bond Theory respect now
obviously<00:16:20.660><c> as</c><00:16:20.810><c> soon</c><00:16:20.840><c> give</c><00:16:21.170><c> us</c><00:16:21.320><c> a</c><00:16:21.350><c> third</c><00:16:21.620><c> party</c>

00:16:21.970 --> 00:16:21.980 align:start position:0%
obviously as soon give us a third party
 

00:16:21.980 --> 00:16:23.950 align:start position:0%
obviously as soon give us a third party
the<00:16:22.580><c> processor</c><00:16:23.030><c> pipe</c><00:16:23.240><c> is</c><00:16:23.420><c> still</c><00:16:23.510><c> your</c><00:16:23.750><c> coins</c>

00:16:23.950 --> 00:16:23.960 align:start position:0%
the processor pipe is still your coins
 

00:16:23.960 --> 00:16:25.630 align:start position:0%
the processor pipe is still your coins
and<00:16:24.140><c> everything</c><00:16:24.440><c> but</c><00:16:24.950><c> for</c><00:16:25.220><c> the</c><00:16:25.370><c> correct</c>

00:16:25.630 --> 00:16:25.640 align:start position:0%
and everything but for the correct
 

00:16:25.640 --> 00:16:27.610 align:start position:0%
and everything but for the correct
execution<00:16:25.910><c> of</c><00:16:26.240><c> the</c><00:16:26.300><c> protocol</c><00:16:26.810><c> and</c><00:16:27.020><c> again</c><00:16:27.500><c> this</c>

00:16:27.610 --> 00:16:27.620 align:start position:0%
execution of the protocol and again this
 

00:16:27.620 --> 00:16:28.780 align:start position:0%
execution of the protocol and again this
is<00:16:27.770><c> where</c><00:16:27.890><c> the</c><00:16:27.950><c> games</c><00:16:28.100><c> running</c><00:16:28.310><c> perspective</c>

00:16:28.780 --> 00:16:28.790 align:start position:0%
is where the games running perspective
 

00:16:28.790 --> 00:16:32.710 align:start position:0%
is where the games running perspective
comes<00:16:28.970><c> an</c><00:16:29.090><c> even</c><00:16:29.330><c> 50</c>

00:16:32.710 --> 00:16:32.720 align:start position:0%
 
 

00:16:32.720 --> 00:16:50.030 align:start position:0%
 
it<00:16:33.720><c> still</c><00:16:34.110><c> is</c>

00:16:50.030 --> 00:16:50.040 align:start position:0%
 
 

00:16:50.040 --> 00:16:56.840 align:start position:0%
 
[Music]

00:16:56.840 --> 00:16:56.850 align:start position:0%
 
 

00:16:56.850 --> 00:17:06.910 align:start position:0%
 
[Music]

00:17:06.910 --> 00:17:06.920 align:start position:0%
 
 

00:17:06.920 --> 00:17:30.730 align:start position:0%
 
[Music]

00:17:30.730 --> 00:17:30.740 align:start position:0%
 
 

00:17:30.740 --> 00:17:36.649 align:start position:0%
 
fire<00:17:31.740><c> fire</c><00:17:32.520><c> yes</c><00:17:33.080><c> is</c><00:17:34.080><c> basically</c><00:17:35.419><c> when</c><00:17:36.419><c> you</c>

00:17:36.649 --> 00:17:36.659 align:start position:0%
fire fire yes is basically when you
 

00:17:36.659 --> 00:17:39.950 align:start position:0%
fire fire yes is basically when you
basically<00:17:36.960><c> first</c><00:17:37.950><c> a</c><00:17:38.100><c> message</c><00:17:38.400><c> unchanged</c><00:17:38.960><c> and</c>

00:17:39.950 --> 00:17:39.960 align:start position:0%
basically first a message unchanged and
 

00:17:39.960 --> 00:17:44.480 align:start position:0%
basically first a message unchanged and
there<00:17:40.320><c> is</c><00:17:40.409><c> the</c><00:17:41.539><c> recovery</c><00:17:42.539><c> of</c><00:17:42.840><c> both</c><00:17:43.260><c> face</c><00:17:43.500><c> and</c>

00:17:44.480 --> 00:17:44.490 align:start position:0%
there is the recovery of both face and
 

00:17:44.490 --> 00:17:50.899 align:start position:0%
there is the recovery of both face and
so<00:17:44.820><c> what</c><00:17:45.270><c> would</c><00:17:45.720><c> be</c><00:17:47.299><c> in</c><00:17:48.299><c> some</c><00:17:48.570><c> cases</c><00:17:49.730><c> if</c><00:17:50.730><c> you</c>

00:17:50.899 --> 00:17:50.909 align:start position:0%
so what would be in some cases if you
 

00:17:50.909 --> 00:17:53.810 align:start position:0%
so what would be in some cases if you
try<00:17:51.210><c> to</c><00:17:51.270><c> swat</c><00:17:51.840><c> an</c><00:17:51.960><c> asset</c><00:17:52.350><c> and</c><00:17:53.280><c> you</c><00:17:53.490><c> want</c><00:17:53.669><c> that</c>

00:17:53.810 --> 00:17:53.820 align:start position:0%
try to swat an asset and you want that
 

00:17:53.820 --> 00:17:57.049 align:start position:0%
try to swat an asset and you want that
swap<00:17:54.270><c> to</c><00:17:54.480><c> be</c><00:17:54.570><c> atomic</c><00:17:54.990><c> or</c><00:17:55.980><c> whether</c><00:17:56.490><c> conception</c>

00:17:57.049 --> 00:17:57.059 align:start position:0%
swap to be atomic or whether conception
 

00:17:57.059 --> 00:18:01.250 align:start position:0%
swap to be atomic or whether conception
to<00:17:57.179><c> be</c><00:17:57.270><c> a</c><00:17:57.299><c> moment</c><00:17:57.720><c> in</c><00:17:57.929><c> the</c><00:17:58.320><c> sense</c><00:17:58.500><c> that</c><00:17:58.620><c> and</c><00:18:00.260><c> if</c>

00:18:01.250 --> 00:18:01.260 align:start position:0%
to be a moment in the sense that and if
 

00:18:01.260 --> 00:18:03.480 align:start position:0%
to be a moment in the sense that and if
you<00:18:01.590><c> if</c><00:18:02.010><c> you</c>

00:18:03.480 --> 00:18:03.490 align:start position:0%
you if you
 

00:18:03.490 --> 00:18:08.990 align:start position:0%
you if you
we've<00:18:03.970><c> x2</c><00:18:04.540><c> chain</c><00:18:04.750><c> wide</c><00:18:05.100><c> but</c><00:18:06.720><c> it's</c><00:18:07.720><c> X</c>

00:18:08.990 --> 00:18:09.000 align:start position:0%
we've x2 chain wide but it's X
 

00:18:09.000 --> 00:18:12.210 align:start position:0%
we've x2 chain wide but it's X
consistently<00:18:10.000><c> loose</c><00:18:10.840><c> chain</c><00:18:11.140><c> like</c><00:18:11.350><c> there's</c>

00:18:12.210 --> 00:18:12.220 align:start position:0%
consistently loose chain like there's
 

00:18:12.220 --> 00:18:13.880 align:start position:0%
consistently loose chain like there's
two<00:18:12.340><c> different</c><00:18:12.640><c> ways</c><00:18:12.760><c> of</c><00:18:12.910><c> just</c><00:18:13.150><c> dealing</c><00:18:13.330><c> that</c>

00:18:13.880 --> 00:18:13.890 align:start position:0%
two different ways of just dealing that
 

00:18:13.890 --> 00:18:17.130 align:start position:0%
two different ways of just dealing that
this<00:18:14.890><c> way</c><00:18:15.100><c> I</c><00:18:15.640><c> forget</c><00:18:16.510><c> where</c><00:18:16.870><c> you</c><00:18:16.960><c> basically</c>

00:18:17.130 --> 00:18:17.140 align:start position:0%
this way I forget where you basically
 

00:18:17.140 --> 00:18:22.980 align:start position:0%
this way I forget where you basically
customize<00:18:17.919><c> 19</c><00:18:18.580><c> X</c><00:18:19.950><c> say</c><00:18:21.299><c> K</c><00:18:22.299><c> X</c><00:18:22.540><c> will</c><00:18:22.750><c> not</c><00:18:22.780><c> be</c>

00:18:22.980 --> 00:18:22.990 align:start position:0%
customize 19 X say K X will not be
 

00:18:22.990 --> 00:18:25.169 align:start position:0%
customize 19 X say K X will not be
beautiful<00:18:23.320><c> chain</c><00:18:23.470><c> wife</c><00:18:23.679><c> and</c><00:18:24.460><c> there's</c><00:18:24.820><c> no</c><00:18:24.970><c> will</c>

00:18:25.169 --> 00:18:25.179 align:start position:0%
beautiful chain wife and there's no will
 

00:18:25.179 --> 00:18:27.480 align:start position:0%
beautiful chain wife and there's no will
become<00:18:25.540><c> professors</c><00:18:26.080><c> behind</c><00:18:26.350><c> that</c><00:18:26.500><c> so</c><00:18:27.309><c> like</c>

00:18:27.480 --> 00:18:27.490 align:start position:0%
become professors behind that so like
 

00:18:27.490 --> 00:18:30.090 align:start position:0%
become professors behind that so like
there's<00:18:28.090><c> no</c><00:18:28.150><c> way</c><00:18:28.330><c> you</c><00:18:28.390><c> can</c><00:18:28.570><c> fail</c><00:18:28.750><c> she</c><00:18:29.380><c> say</c><00:18:29.530><c> you</c>

00:18:30.090 --> 00:18:30.100 align:start position:0%
there's no way you can fail she say you
 

00:18:30.100 --> 00:18:31.740 align:start position:0%
there's no way you can fail she say you
can<00:18:30.220><c> say</c><00:18:30.340><c> I</c><00:18:30.400><c> want</c><00:18:30.490><c> to</c><00:18:30.640><c> be</c><00:18:30.730><c> checked</c><00:18:31.059><c> in</c><00:18:31.330><c> the</c><00:18:31.360><c> next</c>

00:18:31.740 --> 00:18:31.750 align:start position:0%
can say I want to be checked in the next
 

00:18:31.750 --> 00:18:36.180 align:start position:0%
can say I want to be checked in the next
to<00:18:31.840><c> Y</c><00:18:32.130><c> then</c><00:18:33.630><c> there's</c><00:18:34.630><c> no</c><00:18:34.860><c> there's</c><00:18:35.860><c> never</c><00:18:36.010><c> a</c>

00:18:36.180 --> 00:18:36.190 align:start position:0%
to Y then there's no there's never a
 

00:18:36.190 --> 00:18:38.000 align:start position:0%
to Y then there's no there's never a
more<00:18:36.400><c> stable</c><00:18:36.640><c> recovery</c><00:18:37.090><c> person</c><00:18:37.630><c> like</c><00:18:37.840><c> that</c>

00:18:38.000 --> 00:18:38.010 align:start position:0%
more stable recovery person like that
 

00:18:38.010 --> 00:18:39.590 align:start position:0%
more stable recovery person like that
[Music]

00:18:39.590 --> 00:18:39.600 align:start position:0%
[Music]
 

00:18:39.600 --> 00:18:43.230 align:start position:0%
[Music]
but<00:18:40.600><c> here</c><00:18:41.340><c> the</c><00:18:42.340><c> two-phase</c><00:18:42.730><c> commit</c><00:18:42.940><c> further</c>

00:18:43.230 --> 00:18:43.240 align:start position:0%
but here the two-phase commit further
 

00:18:43.240 --> 00:18:47.250 align:start position:0%
but here the two-phase commit further
goals<00:18:44.850><c> there</c><00:18:45.850><c> is</c><00:18:46.000><c> a</c><00:18:46.030><c> port</c><00:18:46.419><c> or</c><00:18:46.630><c> recovery</c><00:18:47.020><c> phase</c>

00:18:47.250 --> 00:18:47.260 align:start position:0%
goals there is a port or recovery phase
 

00:18:47.260 --> 00:18:49.880 align:start position:0%
goals there is a port or recovery phase
in<00:18:47.650><c> the</c><00:18:48.280><c> case</c><00:18:48.490><c> for</c><00:18:48.850><c> our</c><00:18:48.940><c> transaction</c><00:18:49.450><c> fails</c>

00:18:49.880 --> 00:18:49.890 align:start position:0%
in the case for our transaction fails
 

00:18:49.890 --> 00:18:57.330 align:start position:0%
in the case for our transaction fails
okay<00:18:50.890><c> so</c><00:18:51.750><c> so</c><00:18:52.750><c> you</c><00:18:52.840><c> might</c><00:18:54.210><c> change</c><00:18:55.260><c> object</c><00:18:56.260><c> X</c><00:18:56.500><c> we</c>

00:18:57.330 --> 00:18:57.340 align:start position:0%
okay so so you might change object X we
 

00:18:57.340 --> 00:19:03.030 align:start position:0%
okay so so you might change object X we
change<00:18:57.580><c> Y</c><00:18:57.730><c> but</c><00:18:58.570><c> you</c><00:18:59.380><c> might</c><00:18:59.590><c> be</c><00:18:59.980><c> light</c><00:19:01.230><c> but</c><00:19:02.230><c> what</c>

00:19:03.030 --> 00:19:03.040 align:start position:0%
change Y but you might be light but what
 

00:19:03.040 --> 00:19:05.159 align:start position:0%
change Y but you might be light but what
do<00:19:03.100><c> you</c><00:19:03.190><c> check</c><00:19:03.880><c> the</c><00:19:04.270><c> world</c><00:19:04.480><c> object</c><00:19:04.780><c> s</c><00:19:04.929><c> chain</c>

00:19:05.159 --> 00:19:05.169 align:start position:0%
do you check the world object s chain
 

00:19:05.169 --> 00:19:08.340 align:start position:0%
do you check the world object s chain
while<00:19:05.350><c> it</c><00:19:06.309><c> might</c><00:19:06.610><c> be</c><00:19:06.669><c> the</c><00:19:06.910><c> case</c><00:19:07.150><c> that</c><00:19:07.990><c> you</c>

00:19:08.340 --> 00:19:08.350 align:start position:0%
while it might be the case that you
 

00:19:08.350 --> 00:19:10.200 align:start position:0%
while it might be the case that you
might<00:19:08.530><c> have</c><00:19:08.679><c> to</c><00:19:08.860><c> undo</c><00:19:09.190><c> that</c><00:19:09.370><c> because</c>

00:19:10.200 --> 00:19:10.210 align:start position:0%
might have to undo that because
 

00:19:10.210 --> 00:19:12.900 align:start position:0%
might have to undo that because
determine<00:19:10.900><c> the</c><00:19:11.110><c> overall</c><00:19:11.530><c> transaction</c><00:19:11.919><c> that</c>

00:19:12.900 --> 00:19:12.910 align:start position:0%
determine the overall transaction that
 

00:19:12.910 --> 00:19:16.350 align:start position:0%
determine the overall transaction that
this<00:19:13.120><c> process</c><00:19:13.570><c> is</c><00:19:13.720><c> part</c><00:19:13.960><c> of</c><00:19:14.049><c> fails</c><00:19:14.880><c> so</c><00:19:15.880><c> and</c>

00:19:16.350 --> 00:19:16.360 align:start position:0%
this process is part of fails so and
 

00:19:16.360 --> 00:19:20.310 align:start position:0%
this process is part of fails so and
this<00:19:17.290><c> is</c><00:19:17.350><c> when</c><00:19:17.590><c> our</c><00:19:17.740><c> board</c><00:19:18.010><c> comes</c><00:19:18.280><c> in</c><00:19:18.960><c> okay</c><00:19:19.960><c> and</c>

00:19:20.310 --> 00:19:20.320 align:start position:0%
this is when our board comes in okay and
 

00:19:20.320 --> 00:19:22.140 align:start position:0%
this is when our board comes in okay and
now<00:19:20.860><c> it</c><00:19:21.220><c> will</c><00:19:21.309><c> become</c><00:19:21.400><c> more</c><00:19:21.669><c> clear</c><00:19:21.730><c> when</c><00:19:22.059><c> we</c>

00:19:22.140 --> 00:19:22.150 align:start position:0%
now it will become more clear when we
 

00:19:22.150 --> 00:19:23.970 align:start position:0%
now it will become more clear when we
actually<00:19:22.299><c> go</c><00:19:22.540><c> through</c><00:19:22.660><c> the</c><00:19:22.840><c> actual</c><00:19:22.990><c> verticals</c>

00:19:23.970 --> 00:19:23.980 align:start position:0%
actually go through the actual verticals
 

00:19:23.980 --> 00:19:27.900 align:start position:0%
actually go through the actual verticals
but<00:19:24.640><c> it</c><00:19:24.760><c> is</c><00:19:25.179><c> a</c><00:19:25.360><c> classification</c><00:19:26.910><c> second</c>

00:19:27.900 --> 00:19:27.910 align:start position:0%
but it is a classification second
 

00:19:27.910 --> 00:19:33.840 align:start position:0%
but it is a classification second
classification<00:19:28.179><c> is</c><00:19:29.140><c> a</c><00:19:29.730><c> local</c><00:19:30.929><c> mover</c><00:19:31.929><c> cane</c><00:19:32.850><c> so</c>

00:19:33.840 --> 00:19:33.850 align:start position:0%
classification is a local mover cane so
 

00:19:33.850 --> 00:19:35.460 align:start position:0%
classification is a local mover cane so
when<00:19:34.210><c> you</c><00:19:34.330><c> actually</c><00:19:34.480><c> do</c><00:19:34.809><c> push</c><00:19:35.230><c> fast</c>

00:19:35.460 --> 00:19:35.470 align:start position:0%
when you actually do push fast
 

00:19:35.470 --> 00:19:36.690 align:start position:0%
when you actually do push fast
communication<00:19:36.070><c> or</c><00:19:36.280><c> first</c><00:19:36.520><c> chain</c>

00:19:36.690 --> 00:19:36.700 align:start position:0%
communication or first chain
 

00:19:36.700 --> 00:19:39.810 align:start position:0%
communication or first chain
communication<00:19:37.980><c> who</c><00:19:38.980><c> is</c><00:19:39.160><c> responsible</c><00:19:39.760><c> for</c>

00:19:39.810 --> 00:19:39.820 align:start position:0%
communication who is responsible for
 

00:19:39.820 --> 00:19:44.870 align:start position:0%
communication who is responsible for
verifying<00:19:40.240><c> that</c><00:19:40.600><c> medication</c><00:19:42.059><c> for</c><00:19:43.559><c> some</c>

00:19:44.870 --> 00:19:44.880 align:start position:0%
verifying that medication for some
 

00:19:44.880 --> 00:19:48.330 align:start position:0%
verifying that medication for some
principles<00:19:45.880><c> local</c><00:19:46.750><c> her</c><00:19:46.900><c> kitchen</c><00:19:47.350><c> which</c><00:19:48.190><c> is</c>

00:19:48.330 --> 00:19:48.340 align:start position:0%
principles local her kitchen which is
 

00:19:48.340 --> 00:19:50.880 align:start position:0%
principles local her kitchen which is
basically<00:19:48.760><c> when</c><00:19:49.540><c> needed</c><00:19:50.140><c> the</c><00:19:50.290><c> participants</c>

00:19:50.880 --> 00:19:50.890 align:start position:0%
basically when needed the participants
 

00:19:50.890 --> 00:19:53.610 align:start position:0%
basically when needed the participants
who<00:19:51.730><c> are</c><00:19:51.760><c> involved</c><00:19:52.179><c> in</c><00:19:52.510><c> that</c><00:19:52.620><c> question</c>

00:19:53.610 --> 00:19:53.620 align:start position:0%
who are involved in that question
 

00:19:53.620 --> 00:19:56.100 align:start position:0%
who are involved in that question
communication<00:19:54.250><c> are</c><00:19:54.730><c> responsible</c><00:19:55.450><c> for</c>

00:19:56.100 --> 00:19:56.110 align:start position:0%
communication are responsible for
 

00:19:56.110 --> 00:19:58.029 align:start position:0%
communication are responsible for
verifying<00:19:56.320><c> that</c><00:19:56.679><c> question</c>

00:19:58.029 --> 00:19:58.039 align:start position:0%
verifying that question
 

00:19:58.039 --> 00:20:02.369 align:start position:0%
verifying that question
for<00:19:58.759><c> example</c><00:19:59.210><c> hdl-c</c><00:19:59.929><c> basic</c><00:20:00.440><c> level</c><00:20:00.679><c> swaps</c>

00:20:02.369 --> 00:20:02.379 align:start position:0%
for example hdl-c basic level swaps
 

00:20:02.379 --> 00:20:05.310 align:start position:0%
for example hdl-c basic level swaps
so<00:20:03.379><c> for</c><00:20:03.799><c> example</c><00:20:03.860><c> if</c><00:20:04.279><c> Alice</c><00:20:04.610><c> wants</c><00:20:05.120><c> to</c><00:20:05.179><c> send</c>

00:20:05.310 --> 00:20:05.320 align:start position:0%
so for example if Alice wants to send
 

00:20:05.320 --> 00:20:09.190 align:start position:0%
so for example if Alice wants to send
money<00:20:06.320><c> to</c><00:20:06.409><c> Bob</c><00:20:06.789><c> 30</c><00:20:07.789><c> Bob</c><00:20:08.120><c> is</c><00:20:08.389><c> responsible</c><00:20:08.419><c> for</c>

00:20:09.190 --> 00:20:09.200 align:start position:0%
money to Bob 30 Bob is responsible for
 

00:20:09.200 --> 00:20:10.690 align:start position:0%
money to Bob 30 Bob is responsible for
verifying<00:20:09.409><c> that</c><00:20:09.740><c> that</c><00:20:10.009><c> money</c><00:20:10.159><c> has</c><00:20:10.309><c> been</c><00:20:10.429><c> sent</c>

00:20:10.690 --> 00:20:10.700 align:start position:0%
verifying that that money has been sent
 

00:20:10.700 --> 00:20:12.700 align:start position:0%
verifying that that money has been sent
on<00:20:10.940><c> the</c><00:20:11.720><c> other</c><00:20:11.870><c> hand</c><00:20:12.110><c> with</c><00:20:12.289><c> global</c>

00:20:12.700 --> 00:20:12.710 align:start position:0%
on the other hand with global
 

00:20:12.710 --> 00:20:14.799 align:start position:0%
on the other hand with global
verification<00:20:13.309><c> you</c><00:20:14.120><c> don't</c><00:20:14.330><c> just</c><00:20:14.480><c> need</c><00:20:14.659><c> the</c>

00:20:14.799 --> 00:20:14.809 align:start position:0%
verification you don't just need the
 

00:20:14.809 --> 00:20:17.230 align:start position:0%
verification you don't just need the
team<00:20:14.990><c> participants</c><00:20:15.710><c> all</c><00:20:16.490><c> the</c><00:20:16.759><c> participants</c>

00:20:17.230 --> 00:20:17.240 align:start position:0%
team participants all the participants
 

00:20:17.240 --> 00:20:19.509 align:start position:0%
team participants all the participants
of<00:20:17.480><c> the</c><00:20:17.539><c> question</c><00:20:18.470><c> communication</c><00:20:19.039><c> protocol</c>

00:20:19.509 --> 00:20:19.519 align:start position:0%
of the question communication protocol
 

00:20:19.519 --> 00:20:21.460 align:start position:0%
of the question communication protocol
deserve<00:20:20.330><c> to</c><00:20:20.570><c> be</c><00:20:20.809><c> involved</c><00:20:21.049><c> in</c><00:20:21.289><c> their</c>

00:20:21.460 --> 00:20:21.470 align:start position:0%
deserve to be involved in their
 

00:20:21.470 --> 00:20:24.009 align:start position:0%
deserve to be involved in their
verification<00:20:22.070><c> you</c><00:20:22.909><c> also</c><00:20:23.120><c> need</c><00:20:23.450><c> the</c><00:20:23.779><c> entire</c>

00:20:24.009 --> 00:20:24.019 align:start position:0%
verification you also need the entire
 

00:20:24.019 --> 00:20:28.509 align:start position:0%
verification you also need the entire
consensus<00:20:24.740><c> to</c><00:20:25.669><c> be</c><00:20:26.799><c> without</c><00:20:27.799><c> verification</c><00:20:28.070><c> or</c>

00:20:28.509 --> 00:20:28.519 align:start position:0%
consensus to be without verification or
 

00:20:28.519 --> 00:20:31.149 align:start position:0%
consensus to be without verification or
you<00:20:28.639><c> to</c><00:20:28.759><c> verify</c><00:20:29.090><c> the</c><00:20:29.149><c> consensus</c><00:20:29.980><c> by</c><00:20:30.980><c> some</c>

00:20:31.149 --> 00:20:31.159 align:start position:0%
you to verify the consensus by some
 

00:20:31.159 --> 00:20:35.710 align:start position:0%
you to verify the consensus by some
consensus<00:20:31.580><c> that</c><00:20:31.730><c> will</c><00:20:32.950><c> header</c><00:20:33.950><c> or</c><00:20:34.309><c> object</c><00:20:34.909><c> and</c>

00:20:35.710 --> 00:20:35.720 align:start position:0%
consensus that will header or object and
 

00:20:35.720 --> 00:20:39.430 align:start position:0%
consensus that will header or object and
one<00:20:36.049><c> example</c><00:20:36.379><c> of</c><00:20:36.559><c> this</c><00:20:36.740><c> is</c><00:20:37.120><c> public</c><00:20:38.120><c> swaps</c><00:20:38.440><c> with</c>

00:20:39.430 --> 00:20:39.440 align:start position:0%
one example of this is public swaps with
 

00:20:39.440 --> 00:20:41.830 align:start position:0%
one example of this is public swaps with
transaction<00:20:40.250><c> including</c><00:20:40.370><c> roots</c><00:20:40.909><c> so</c>

00:20:41.830 --> 00:20:41.840 align:start position:0%
transaction including roots so
 

00:20:41.840 --> 00:20:45.700 align:start position:0%
transaction including roots so
transaction<00:20:42.830><c> inclusion</c><00:20:43.250><c> with</c><00:20:44.350><c> some</c><00:20:45.350><c> Bricklin</c>

00:20:45.700 --> 00:20:45.710 align:start position:0%
transaction inclusion with some Bricklin
 

00:20:45.710 --> 00:20:49.899 align:start position:0%
transaction inclusion with some Bricklin
for<00:20:45.889><c> example</c><00:20:46.309><c> the</c><00:20:47.090><c> ethereal</c><00:20:47.570><c> chain</c><00:20:48.639><c> has</c><00:20:49.639><c> to</c>

00:20:49.899 --> 00:20:49.909 align:start position:0%
for example the ethereal chain has to
 

00:20:49.909 --> 00:20:51.789 align:start position:0%
for example the ethereal chain has to
receive<00:20:50.659><c> a</c><00:20:50.720><c> block</c><00:20:51.049><c> header</c><00:20:51.259><c> from</c><00:20:51.470><c> the</c><00:20:51.559><c> Bitcoin</c>

00:20:51.789 --> 00:20:51.799 align:start position:0%
receive a block header from the Bitcoin
 

00:20:51.799 --> 00:20:54.399 align:start position:0%
receive a block header from the Bitcoin
chain<00:20:52.399><c> and</c><00:20:52.700><c> the</c><00:20:53.210><c> etherium</c><00:20:53.629><c> chain</c><00:20:53.870><c> has</c><00:20:54.379><c> to</c>

00:20:54.399 --> 00:20:54.409 align:start position:0%
chain and the etherium chain has to
 

00:20:54.409 --> 00:20:56.230 align:start position:0%
chain and the etherium chain has to
verify<00:20:54.799><c> that</c><00:20:54.980><c> proof</c><00:20:55.279><c> of</c><00:20:55.370><c> work</c><00:20:55.610><c> with</c><00:20:56.210><c> that</c>

00:20:56.230 --> 00:20:56.240 align:start position:0%
verify that proof of work with that
 

00:20:56.240 --> 00:20:59.139 align:start position:0%
verify that proof of work with that
block<00:20:56.570><c> header</c><00:20:57.370><c> answer</c><00:20:58.370><c> that's</c><00:20:58.580><c> global</c>

00:20:59.139 --> 00:20:59.149 align:start position:0%
block header answer that's global
 

00:20:59.149 --> 00:21:01.360 align:start position:0%
block header answer that's global
perfect<00:20:59.450><c> Asian</c><00:20:59.690><c> because</c><00:21:00.019><c> the</c><00:21:00.649><c> chain</c><00:21:01.340><c> is</c>

00:21:01.360 --> 00:21:01.370 align:start position:0%
perfect Asian because the chain is
 

00:21:01.370 --> 00:21:03.700 align:start position:0%
perfect Asian because the chain is
verifying<00:21:01.970><c> in</c><00:21:02.149><c> the</c><00:21:02.240><c> consensus</c><00:21:02.750><c> of</c><00:21:03.019><c> the</c><00:21:03.470><c> big</c>

00:21:03.700 --> 00:21:03.710 align:start position:0%
verifying in the consensus of the big
 

00:21:03.710 --> 00:21:04.649 align:start position:0%
verifying in the consensus of the big
question

00:21:04.649 --> 00:21:04.659 align:start position:0%
question
 

00:21:04.659 --> 00:21:07.330 align:start position:0%
question
so<00:21:05.659><c> the</c><00:21:06.110><c> entirety</c><00:21:06.379><c> of</c><00:21:06.679><c> James</c><00:21:06.980><c> Ray's</c><00:21:07.159><c> be</c>

00:21:07.330 --> 00:21:07.340 align:start position:0%
so the entirety of James Ray's be
 

00:21:07.340 --> 00:21:12.070 align:start position:0%
so the entirety of James Ray's be
involved<00:21:07.669><c> in</c><00:21:08.330><c> some</c><00:21:08.509><c> way</c><00:21:09.970><c> of</c><00:21:10.970><c> verifying</c><00:21:11.240><c> the</c>

00:21:12.070 --> 00:21:12.080 align:start position:0%
involved in some way of verifying the
 

00:21:12.080 --> 00:21:16.899 align:start position:0%
involved in some way of verifying the
communication<00:21:12.860><c> I</c><00:21:14.409><c> finally</c><00:21:15.409><c> have</c><00:21:15.909><c> security</c>

00:21:16.899 --> 00:21:16.909 align:start position:0%
communication I finally have security
 

00:21:16.909 --> 00:21:20.759 align:start position:0%
communication I finally have security
model<00:21:17.559><c> the</c><00:21:18.559><c> different</c><00:21:18.889><c> security</c><00:21:19.009><c> rules</c><00:21:19.429><c> for</c>

00:21:20.759 --> 00:21:20.769 align:start position:0%
model the different security rules for
 

00:21:20.769 --> 00:21:24.070 align:start position:0%
model the different security rules for
authentication<00:21:21.909><c> as</c><00:21:22.909><c> homogeneous</c><00:21:23.690><c> and</c>

00:21:24.070 --> 00:21:24.080 align:start position:0%
authentication as homogeneous and
 

00:21:24.080 --> 00:21:25.140 align:start position:0%
authentication as homogeneous and
heterogeneous

00:21:25.140 --> 00:21:25.150 align:start position:0%
heterogeneous
 

00:21:25.150 --> 00:21:26.940 align:start position:0%
heterogeneous
[Music]

00:21:26.940 --> 00:21:26.950 align:start position:0%
[Music]
 

00:21:26.950 --> 00:21:28.330 align:start position:0%
[Music]
heterogenous

00:21:28.330 --> 00:21:28.340 align:start position:0%
heterogenous
 

00:21:28.340 --> 00:21:31.090 align:start position:0%
heterogenous
let's<00:21:28.639><c> talk</c><00:21:28.850><c> with</c><00:21:29.440><c> heterogeneous</c><00:21:30.440><c> that's</c>

00:21:31.090 --> 00:21:31.100 align:start position:0%
let's talk with heterogeneous that's
 

00:21:31.100 --> 00:21:34.029 align:start position:0%
let's talk with heterogeneous that's
most<00:21:31.370><c> important</c><00:21:32.000><c> and</c><00:21:32.590><c> tension</c><00:21:33.590><c> venus</c><00:21:33.889><c> is</c>

00:21:34.029 --> 00:21:34.039 align:start position:0%
most important and tension venus is
 

00:21:34.039 --> 00:21:35.740 align:start position:0%
most important and tension venus is
basically<00:21:34.490><c> when</c><00:21:34.730><c> you</c><00:21:34.820><c> have</c><00:21:34.850><c> different</c><00:21:35.240><c> chains</c>

00:21:35.740 --> 00:21:35.750 align:start position:0%
basically when you have different chains
 

00:21:35.750 --> 00:21:39.460 align:start position:0%
basically when you have different chains
the<00:21:36.740><c> aren't</c><00:21:37.039><c> really</c><00:21:37.690><c> kind</c><00:21:38.690><c> of</c><00:21:38.720><c> connected</c><00:21:39.169><c> the</c>

00:21:39.460 --> 00:21:39.470 align:start position:0%
the aren't really kind of connected the
 

00:21:39.470 --> 00:21:42.070 align:start position:0%
the aren't really kind of connected the
or<00:21:39.620><c> directly</c><00:21:39.980><c> connecting</c><00:21:40.399><c> to</c><00:21:40.490><c> each</c><00:21:40.549><c> other</c><00:21:41.080><c> for</c>

00:21:42.070 --> 00:21:42.080 align:start position:0%
or directly connecting to each other for
 

00:21:42.080 --> 00:21:43.060 align:start position:0%
or directly connecting to each other for
example<00:21:42.470><c> let's</c><00:21:42.649><c> say</c><00:21:42.740><c> you</c><00:21:42.830><c> want</c><00:21:42.860><c> to</c>

00:21:43.060 --> 00:21:43.070 align:start position:0%
example let's say you want to
 

00:21:43.070 --> 00:21:45.909 align:start position:0%
example let's say you want to
communicate<00:21:43.279><c> with</c><00:21:43.990><c> from</c><00:21:44.990><c> Bitcoin</c><00:21:45.350><c> to</c><00:21:45.559><c> Syria</c>

00:21:45.909 --> 00:21:45.919 align:start position:0%
communicate with from Bitcoin to Syria
 

00:21:45.919 --> 00:21:49.600 align:start position:0%
communicate with from Bitcoin to Syria
or<00:21:46.429><c> any</c><00:21:47.360><c> or</c><00:21:47.690><c> any</c><00:21:47.960><c> of</c><00:21:48.110><c> these</c><00:21:48.259><c> chains</c><00:21:48.590><c> this</c><00:21:49.549><c> is</c>

00:21:49.600 --> 00:21:49.610 align:start position:0%
or any or any of these chains this is
 

00:21:49.610 --> 00:21:52.570 align:start position:0%
or any or any of these chains this is
considered<00:21:50.059><c> a</c><00:21:50.360><c> true</c><00:21:50.570><c> genius</c><00:21:51.129><c> because</c><00:21:52.129><c> these</c>

00:21:52.570 --> 00:21:52.580 align:start position:0%
considered a true genius because these
 

00:21:52.580 --> 00:21:55.690 align:start position:0%
considered a true genius because these
chains<00:21:53.139><c> are</c><00:21:54.139><c> built</c><00:21:54.470><c> differently</c><00:21:54.529><c> and</c><00:21:55.309><c> have</c>

00:21:55.690 --> 00:21:55.700 align:start position:0%
chains are built differently and have
 

00:21:55.700 --> 00:21:56.290 align:start position:0%
chains are built differently and have
different

00:21:56.290 --> 00:21:56.300 align:start position:0%
different
 

00:21:56.300 --> 00:22:00.790 align:start position:0%
different
security<00:21:56.690><c> assumptions</c><00:21:57.170><c> okay</c><00:21:58.210><c> so</c><00:21:59.620><c> you</c><00:22:00.620><c> might</c>

00:22:00.790 --> 00:22:00.800 align:start position:0%
security assumptions okay so you might
 

00:22:00.800 --> 00:22:01.930 align:start position:0%
security assumptions okay so you might
not<00:22:00.950><c> be</c><00:22:01.070><c> able</c><00:22:01.220><c> to</c><00:22:01.340><c> certainly</c><00:22:01.820><c> make</c>

00:22:01.930 --> 00:22:01.940 align:start position:0%
not be able to certainly make
 

00:22:01.940 --> 00:22:05.920 align:start position:0%
not be able to certainly make
assumptions<00:22:02.780><c> about</c><00:22:03.530><c> the</c><00:22:03.890><c> security</c><00:22:04.700><c> of</c><00:22:04.970><c> in</c>

00:22:05.920 --> 00:22:05.930 align:start position:0%
assumptions about the security of in
 

00:22:05.930 --> 00:22:08.110 align:start position:0%
assumptions about the security of in
today's<00:22:06.050><c> chains</c><00:22:06.560><c> like</c><00:22:07.250><c> I</c><00:22:07.490><c> could</c><00:22:07.760><c> just</c><00:22:07.910><c> create</c>

00:22:08.110 --> 00:22:08.120 align:start position:0%
today's chains like I could just create
 

00:22:08.120 --> 00:22:10.630 align:start position:0%
today's chains like I could just create
my<00:22:08.270><c> own</c><00:22:08.300><c> boxing</c><00:22:08.840><c> and</c><00:22:09.320><c> I'm</c><00:22:10.220><c> gonna</c><00:22:10.340><c> get</c><00:22:10.550><c> with</c>

00:22:10.630 --> 00:22:10.640 align:start position:0%
my own boxing and I'm gonna get with
 

00:22:10.640 --> 00:22:12.870 align:start position:0%
my own boxing and I'm gonna get with
Bitcoin<00:22:11.000><c> for</c><00:22:11.390><c> example</c><00:22:11.780><c> using</c><00:22:12.080><c> atomic</c><00:22:12.260><c> swap</c>

00:22:12.870 --> 00:22:12.880 align:start position:0%
Bitcoin for example using atomic swap
 

00:22:12.880 --> 00:22:15.250 align:start position:0%
Bitcoin for example using atomic swap
but<00:22:13.880><c> bigger</c><00:22:14.180><c> people</c><00:22:14.600><c> have</c><00:22:14.690><c> Bitcoin</c><00:22:15.020><c> can't</c>

00:22:15.250 --> 00:22:15.260 align:start position:0%
but bigger people have Bitcoin can't
 

00:22:15.260 --> 00:22:16.420 align:start position:0%
but bigger people have Bitcoin can't
make<00:22:15.410><c> assumptions</c><00:22:15.800><c> about</c><00:22:15.890><c> the</c><00:22:16.100><c> security</c><00:22:16.370><c> of</c>

00:22:16.420 --> 00:22:16.430 align:start position:0%
make assumptions about the security of
 

00:22:16.430 --> 00:22:23.820 align:start position:0%
make assumptions about the security of
my<00:22:16.550><c> chain</c><00:22:18.220><c> now</c><00:22:19.220><c> with</c><00:22:20.060><c> our</c><00:22:20.330><c> genius</c><00:22:21.280><c> with</c><00:22:22.280><c> emojis</c>

00:22:23.820 --> 00:22:23.830 align:start position:0%
my chain now with our genius with emojis
 

00:22:23.830 --> 00:22:26.380 align:start position:0%
my chain now with our genius with emojis
it's<00:22:24.830><c> used</c><00:22:25.100><c> as</c><00:22:25.250><c> a</c><00:22:25.340><c> uniform</c><00:22:25.790><c> level</c><00:22:25.970><c> of</c><00:22:26.120><c> security</c>

00:22:26.380 --> 00:22:26.390 align:start position:0%
it's used as a uniform level of security
 

00:22:26.390 --> 00:22:30.940 align:start position:0%
it's used as a uniform level of security
for<00:22:27.220><c> example</c><00:22:28.220><c> father</c><00:22:29.200><c> ensure</c><00:22:30.200><c> in</c><00:22:30.530><c> Charlotte</c>

00:22:30.940 --> 00:22:30.950 align:start position:0%
for example father ensure in Charlotte
 

00:22:30.950 --> 00:22:33.940 align:start position:0%
for example father ensure in Charlotte
in<00:22:31.070><c> a</c><00:22:31.160><c> Charlotte</c><00:22:31.550><c> system</c><00:22:32.500><c> there's</c><00:22:33.500><c> multiple</c>

00:22:33.940 --> 00:22:33.950 align:start position:0%
in a Charlotte system there's multiple
 

00:22:33.950 --> 00:22:36.580 align:start position:0%
in a Charlotte system there's multiple
chains<00:22:34.270><c> but</c><00:22:35.270><c> there's</c><00:22:35.510><c> chains</c><00:22:35.840><c> above</c><00:22:36.260><c> the</c><00:22:36.410><c> same</c>

00:22:36.580 --> 00:22:36.590 align:start position:0%
chains but there's chains above the same
 

00:22:36.590 --> 00:22:39.460 align:start position:0%
chains but there's chains above the same
system<00:22:37.010><c> and</c><00:22:38.000><c> they</c><00:22:38.450><c> use</c><00:22:38.660><c> the</c><00:22:38.840><c> same</c><00:22:38.990><c> consensus</c>

00:22:39.460 --> 00:22:39.470 align:start position:0%
system and they use the same consensus
 

00:22:39.470 --> 00:22:41.500 align:start position:0%
system and they use the same consensus
protocol<00:22:39.860><c> and</c><00:22:40.130><c> they</c><00:22:40.340><c> they</c><00:22:40.970><c> designed</c><00:22:41.300><c> to</c><00:22:41.420><c> be</c>

00:22:41.500 --> 00:22:41.510 align:start position:0%
protocol and they they designed to be
 

00:22:41.510 --> 00:22:43.840 align:start position:0%
protocol and they they designed to be
connected<00:22:41.720><c> to</c><00:22:41.930><c> each</c><00:22:41.990><c> other</c><00:22:42.080><c> so</c><00:22:42.470><c> you</c><00:22:43.220><c> can</c><00:22:43.400><c> make</c>

00:22:43.840 --> 00:22:43.850 align:start position:0%
connected to each other so you can make
 

00:22:43.850 --> 00:22:45.550 align:start position:0%
connected to each other so you can make
assumptions<00:22:44.390><c> about</c><00:22:44.600><c> the</c><00:22:44.780><c> security</c><00:22:45.290><c> of</c><00:22:45.320><c> those</c>

00:22:45.550 --> 00:22:45.560 align:start position:0%
assumptions about the security of those
 

00:22:45.560 --> 00:22:49.360 align:start position:0%
assumptions about the security of those
chains<00:22:45.830><c> and</c><00:22:47.860><c> usually</c><00:22:48.860><c> each</c><00:22:48.920><c> other's</c><00:22:49.220><c> systems</c>

00:22:49.360 --> 00:22:49.370 align:start position:0%
chains and usually each other's systems
 

00:22:49.370 --> 00:22:53.070 align:start position:0%
chains and usually each other's systems
as<00:22:49.880><c> I</c><00:22:50.030><c> exaggerate</c><00:22:50.540><c> that</c><00:22:50.960><c> if</c><00:22:51.440><c> one</c><00:22:52.250><c> chain</c><00:22:52.550><c> fails</c>

00:22:53.070 --> 00:22:53.080 align:start position:0%
as I exaggerate that if one chain fails
 

00:22:53.080 --> 00:22:56.110 align:start position:0%
as I exaggerate that if one chain fails
then<00:22:54.080><c> send</c><00:22:54.320><c> us</c><00:22:54.410><c> the</c><00:22:54.560><c> other</c><00:22:54.680><c> because</c><00:22:55.520><c> the</c><00:22:55.550><c> best</c>

00:22:56.110 --> 00:22:56.120 align:start position:0%
then send us the other because the best
 

00:22:56.120 --> 00:23:04.770 align:start position:0%
then send us the other because the best
chains<00:22:56.480><c> rely</c><00:22:57.050><c> on</c><00:22:57.080><c> the</c><00:22:57.260><c> state</c><00:22:57.470><c> if</c><00:22:57.800><c> each</c><00:22:58.100><c> other</c>

00:23:04.770 --> 00:23:04.780 align:start position:0%
 
 

00:23:04.780 --> 00:23:07.320 align:start position:0%
 
so<00:23:05.650><c> you</c><00:23:06.160><c> might</c><00:23:06.310><c> be</c><00:23:06.370><c> familiar</c><00:23:06.490><c> with</c><00:23:06.670><c> cosmos</c><00:23:07.120><c> for</c>

00:23:07.320 --> 00:23:07.330 align:start position:0%
so you might be familiar with cosmos for
 

00:23:07.330 --> 00:23:10.530 align:start position:0%
so you might be familiar with cosmos for
example<00:23:07.690><c> or</c><00:23:07.810><c> talk</c><00:23:07.990><c> about</c><00:23:09.030><c> one</c><00:23:10.030><c> that</c><00:23:10.270><c> I</c><00:23:10.330><c> closed</c>

00:23:10.530 --> 00:23:10.540 align:start position:0%
example or talk about one that I closed
 

00:23:10.540 --> 00:23:11.910 align:start position:0%
example or talk about one that I closed
most<00:23:10.720><c> for</c><00:23:10.870><c> example</c><00:23:11.290><c> have</c><00:23:11.440><c> a</c><00:23:11.470><c> heterogeneous</c>

00:23:11.910 --> 00:23:11.920 align:start position:0%
most for example have a heterogeneous
 

00:23:11.920 --> 00:23:15.270 align:start position:0%
most for example have a heterogeneous
security<00:23:12.670><c> model</c><00:23:13.410><c> so</c><00:23:14.410><c> for</c><00:23:14.560><c> example</c><00:23:14.830><c> the</c><00:23:14.920><c> cosmos</c>

00:23:15.270 --> 00:23:15.280 align:start position:0%
security model so for example the cosmos
 

00:23:15.280 --> 00:23:16.440 align:start position:0%
security model so for example the cosmos
of<00:23:15.370><c> water</c><00:23:15.550><c> that</c><00:23:15.760><c> you</c><00:23:15.850><c> can</c><00:23:16.000><c> create</c><00:23:16.300><c> your</c><00:23:16.390><c> own</c>

00:23:16.440 --> 00:23:16.450 align:start position:0%
of water that you can create your own
 

00:23:16.450 --> 00:23:20.250 align:start position:0%
of water that you can create your own
zone<00:23:16.840><c> or</c><00:23:17.140><c> chain</c><00:23:17.760><c> with</c><00:23:18.760><c> your</c><00:23:18.850><c> exercises</c><00:23:19.330><c> well</c>

00:23:20.250 --> 00:23:20.260 align:start position:0%
zone or chain with your exercises well
 

00:23:20.260 --> 00:23:21.990 align:start position:0%
zone or chain with your exercises well
first<00:23:20.470><c> for</c><00:23:20.710><c> example</c><00:23:20.800><c> they</c><00:23:21.610><c> see</c><00:23:21.790><c> empty</c>

00:23:21.990 --> 00:23:22.000 align:start position:0%
first for example they see empty
 

00:23:22.000 --> 00:23:24.420 align:start position:0%
first for example they see empty
pointers<00:23:22.420><c> shopping</c><00:23:22.810><c> or</c><00:23:23.020><c> any</c><00:23:23.170><c> viable</c><00:23:23.440><c> because</c>

00:23:24.420 --> 00:23:24.430 align:start position:0%
pointers shopping or any viable because
 

00:23:24.430 --> 00:23:29.730 align:start position:0%
pointers shopping or any viable because
it<00:23:24.790><c> to</c><00:23:25.030><c> be</c><00:23:25.120><c> the</c><00:23:25.270><c> Virginia's</c><00:23:27.600><c> I'd</c><00:23:28.600><c> say</c><00:23:28.870><c> when</c><00:23:29.650><c> I</c>

00:23:29.730 --> 00:23:29.740 align:start position:0%
it to be the Virginia's I'd say when I
 

00:23:29.740 --> 00:23:31.620 align:start position:0%
it to be the Virginia's I'd say when I
go<00:23:29.980><c> through</c><00:23:30.010><c> different</c><00:23:30.940><c> variables</c><00:23:31.390><c> and</c>

00:23:31.620 --> 00:23:31.630 align:start position:0%
go through different variables and
 

00:23:31.630 --> 00:23:34.110 align:start position:0%
go through different variables and
pronounce<00:23:32.500><c> no</c><00:23:33.040><c> we're</c><00:23:33.250><c> not</c><00:23:33.310><c> going</c><00:23:33.640><c> to</c><00:23:33.670><c> do</c><00:23:34.030><c> much</c>

00:23:34.110 --> 00:23:34.120 align:start position:0%
pronounce no we're not going to do much
 

00:23:34.120 --> 00:23:38.730 align:start position:0%
pronounce no we're not going to do much
detail<00:23:35.400><c> but</c><00:23:36.720><c> they</c><00:23:37.720><c> do</c><00:23:37.780><c> give</c><00:23:38.350><c> you</c><00:23:38.410><c> the</c><00:23:38.530><c> next</c>

00:23:38.730 --> 00:23:38.740 align:start position:0%
detail but they do give you the next
 

00:23:38.740 --> 00:23:43.800 align:start position:0%
detail but they do give you the next
NTFS<00:23:39.430><c> table</c><00:23:39.670><c> with</c><00:23:40.000><c> atomic</c><00:23:40.300><c> swaps</c><00:23:40.630><c> so</c><00:23:42.810><c> yeah</c>

00:23:43.800 --> 00:23:43.810 align:start position:0%
NTFS table with atomic swaps so yeah
 

00:23:43.810 --> 00:23:46.050 align:start position:0%
NTFS table with atomic swaps so yeah
also<00:23:44.740><c> just</c><00:23:44.950><c> one</c><00:23:45.160><c> thing</c><00:23:45.370><c> on</c><00:23:45.520><c> this</c><00:23:45.730><c> on</c><00:23:45.910><c> this</c>

00:23:46.050 --> 00:23:46.060 align:start position:0%
also just one thing on this on this
 

00:23:46.060 --> 00:23:47.700 align:start position:0%
also just one thing on this on this
finger<00:23:46.240><c> saw</c><00:23:46.540><c> I</c><00:23:46.690><c> mean</c><00:23:46.840><c> we</c><00:23:46.960><c> won't</c><00:23:47.380><c> have</c><00:23:47.470><c> time</c><00:23:47.650><c> to</c>

00:23:47.700 --> 00:23:47.710 align:start position:0%
finger saw I mean we won't have time to
 

00:23:47.710 --> 00:23:50.280 align:start position:0%
finger saw I mean we won't have time to
go<00:23:47.950><c> into</c><00:23:48.100><c> detail</c><00:23:48.340><c> upon</c><00:23:48.430><c> all</c><00:23:48.670><c> of</c><00:23:48.790><c> them</c><00:23:48.940><c> but</c><00:23:49.930><c> one</c>

00:23:50.280 --> 00:23:50.290 align:start position:0%
go into detail upon all of them but one
 

00:23:50.290 --> 00:23:51.900 align:start position:0%
go into detail upon all of them but one
thing<00:23:50.470><c> that</c><00:23:50.500><c> you</c><00:23:50.620><c> may</c><00:23:50.770><c> notice</c><00:23:50.890><c> is</c><00:23:51.310><c> that</c><00:23:51.520><c> local</c>

00:23:51.900 --> 00:23:51.910 align:start position:0%
thing that you may notice is that local
 

00:23:51.910 --> 00:23:53.700 align:start position:0%
thing that you may notice is that local
verification<00:23:52.720><c> so</c><00:23:53.020><c> when</c><00:23:53.200><c> only</c><00:23:53.470><c> to</c><00:23:53.620><c> the</c>

00:23:53.700 --> 00:23:53.710 align:start position:0%
verification so when only to the
 

00:23:53.710 --> 00:23:54.990 align:start position:0%
verification so when only to the
participants<00:23:54.340><c> are</c><00:23:54.460><c> involved</c><00:23:54.790><c> in</c><00:23:54.880><c> the</c>

00:23:54.990 --> 00:23:55.000 align:start position:0%
participants are involved in the
 

00:23:55.000 --> 00:23:57.360 align:start position:0%
participants are involved in the
exchange<00:23:55.180><c> have</c><00:23:55.660><c> to</c><00:23:55.810><c> know</c><00:23:56.140><c> to</c><00:23:56.530><c> do</c><00:23:56.920><c> the</c><00:23:57.040><c> checks</c>

00:23:57.360 --> 00:23:57.370 align:start position:0%
exchange have to know to do the checks
 

00:23:57.370 --> 00:23:58.980 align:start position:0%
exchange have to know to do the checks
it's<00:23:57.790><c> actually</c><00:23:58.150><c> an</c><00:23:58.240><c> agnostic</c><00:23:58.510><c> of</c><00:23:58.840><c> the</c>

00:23:58.980 --> 00:23:58.990 align:start position:0%
it's actually an agnostic of the
 

00:23:58.990 --> 00:24:00.330 align:start position:0%
it's actually an agnostic of the
blockchain<00:23:59.230><c> is</c><00:23:59.590><c> where</c><00:23:59.800><c> this</c><00:23:59.860><c> agnostic</c>

00:24:00.330 --> 00:24:00.340 align:start position:0%
blockchain is where this agnostic
 

00:24:00.340 --> 00:24:02.160 align:start position:0%
blockchain is where this agnostic
elicits<00:24:00.610><c> reading</c><00:24:00.820><c> one</c><00:24:00.970><c> obviously</c><00:24:01.780><c> need</c><00:24:02.020><c> to</c>

00:24:02.160 --> 00:24:02.170 align:start position:0%
elicits reading one obviously need to
 

00:24:02.170 --> 00:24:03.960 align:start position:0%
elicits reading one obviously need to
make<00:24:02.320><c> sure</c><00:24:02.470><c> that</c><00:24:02.620><c> the</c><00:24:02.770><c> locking</c><00:24:03.130><c> mechanism</c><00:24:03.850><c> is</c>

00:24:03.960 --> 00:24:03.970 align:start position:0%
make sure that the locking mechanism is
 

00:24:03.970 --> 00:24:05.880 align:start position:0%
make sure that the locking mechanism is
available<00:24:04.420><c> but</c><00:24:04.870><c> otherwise</c><00:24:05.140><c> they</c><00:24:05.470><c> don't</c><00:24:05.500><c> care</c>

00:24:05.880 --> 00:24:05.890 align:start position:0%
available but otherwise they don't care
 

00:24:05.890 --> 00:24:07.680 align:start position:0%
available but otherwise they don't care
about<00:24:06.010><c> any</c><00:24:06.340><c> consensus</c><00:24:06.820><c> level</c><00:24:07.060><c> deeds</c><00:24:07.240><c> and</c><00:24:07.540><c> so</c>

00:24:07.680 --> 00:24:07.690 align:start position:0%
about any consensus level deeds and so
 

00:24:07.690 --> 00:24:11.870 align:start position:0%
about any consensus level deeds and so
on<00:24:07.750><c> because</c><00:24:08.530><c> again</c><00:24:08.830><c> only</c><00:24:09.100><c> Ostergard</c><00:24:09.700><c> effect</c>

00:24:11.870 --> 00:24:11.880 align:start position:0%
on because again only Ostergard effect
 

00:24:11.880 --> 00:24:15.570 align:start position:0%
on because again only Ostergard effect
so<00:24:12.880><c> let's</c><00:24:13.800><c> talk</c><00:24:14.800><c> about</c><00:24:14.860><c> cross</c><00:24:15.400><c> station</c>

00:24:15.570 --> 00:24:15.580 align:start position:0%
so let's talk about cross station
 

00:24:15.580 --> 00:24:17.130 align:start position:0%
so let's talk about cross station
transfer<00:24:16.180><c> than</c><00:24:16.330><c> I</c><00:24:16.360><c> hope</c><00:24:16.570><c> I'll</c><00:24:16.780><c> be</c><00:24:16.810><c> able</c><00:24:16.990><c> to</c>

00:24:17.130 --> 00:24:17.140 align:start position:0%
transfer than I hope I'll be able to
 

00:24:17.140 --> 00:24:19.320 align:start position:0%
transfer than I hope I'll be able to
answer<00:24:17.290><c> your</c><00:24:17.560><c> personal</c><00:24:17.740><c> agencies</c><00:24:18.550><c> may</c><00:24:19.150><c> not</c>

00:24:19.320 --> 00:24:19.330 align:start position:0%
answer your personal agencies may not
 

00:24:19.330 --> 00:24:21.630 align:start position:0%
answer your personal agencies may not
solve<00:24:19.600><c> your</c><00:24:19.690><c> problem</c><00:24:20.080><c> with</c><00:24:20.110><c> respect</c><00:24:20.460><c> so</c><00:24:21.460><c> I</c><00:24:21.490><c> get</c>

00:24:21.630 --> 00:24:21.640 align:start position:0%
solve your problem with respect so I get
 

00:24:21.640 --> 00:24:23.150 align:start position:0%
solve your problem with respect so I get
an<00:24:21.730><c> atomic</c><00:24:21.940><c> spouse</c><00:24:22.300><c> abuse</c><00:24:22.510><c> method</c><00:24:23.020><c> I</c><00:24:23.110><c> like</c>

00:24:23.150 --> 00:24:23.160 align:start position:0%
an atomic spouse abuse method I like
 

00:24:23.160 --> 00:24:25.770 align:start position:0%
an atomic spouse abuse method I like
okay<00:24:24.540><c> sure</c>

00:24:25.770 --> 00:24:25.780 align:start position:0%
okay sure
 

00:24:25.780 --> 00:24:27.660 align:start position:0%
okay sure
so<00:24:26.050><c> in</c><00:24:26.110><c> atomic</c><00:24:26.350><c> spots</c><00:24:26.710><c> using</c><00:24:27.070><c> symmetric</c><00:24:27.340><c> locks</c>

00:24:27.660 --> 00:24:27.670 align:start position:0%
so in atomic spots using symmetric locks
 

00:24:27.670 --> 00:24:30.090 align:start position:0%
so in atomic spots using symmetric locks
the<00:24:27.940><c> idea</c><00:24:28.240><c> is</c><00:24:28.360><c> that</c><00:24:28.390><c> both</c><00:24:29.170><c> parties</c><00:24:29.620><c> Alice</c><00:24:29.920><c> and</c>

00:24:30.090 --> 00:24:30.100 align:start position:0%
the idea is that both parties Alice and
 

00:24:30.100 --> 00:24:32.100 align:start position:0%
the idea is that both parties Alice and
Bob<00:24:30.250><c> use</c><00:24:30.460><c> the</c><00:24:30.580><c> same</c><00:24:30.910><c> locking</c><00:24:31.360><c> condition</c><00:24:31.900><c> on</c>

00:24:32.100 --> 00:24:32.110 align:start position:0%
Bob use the same locking condition on
 

00:24:32.110 --> 00:24:34.440 align:start position:0%
Bob use the same locking condition on
both<00:24:32.350><c> chains</c><00:24:32.680><c> an</c><00:24:33.340><c> example</c><00:24:33.850><c> our</c><00:24:33.940><c> hash</c><00:24:34.120><c> locks</c>

00:24:34.440 --> 00:24:34.450 align:start position:0%
both chains an example our hash locks
 

00:24:34.450 --> 00:24:36.600 align:start position:0%
both chains an example our hash locks
right<00:24:34.720><c> so</c><00:24:35.320><c> what</c><00:24:35.470><c> Alice</c><00:24:35.800><c> traits</c><00:24:36.070><c> you</c><00:24:36.280><c> generates</c>

00:24:36.600 --> 00:24:36.610 align:start position:0%
right so what Alice traits you generates
 

00:24:36.610 --> 00:24:38.070 align:start position:0%
right so what Alice traits you generates
a<00:24:36.670><c> secret</c><00:24:37.090><c> and</c><00:24:37.330><c> greets</c><00:24:37.540><c> the</c><00:24:37.750><c> current</c>

00:24:38.070 --> 00:24:38.080 align:start position:0%
a secret and greets the current
 

00:24:38.080 --> 00:24:39.540 align:start position:0%
a secret and greets the current
expanding<00:24:38.500><c> condition</c><00:24:38.920><c> on</c><00:24:39.040><c> Bitcoin</c><00:24:39.250><c> for</c>

00:24:39.540 --> 00:24:39.550 align:start position:0%
expanding condition on Bitcoin for
 

00:24:39.550 --> 00:24:41.700 align:start position:0%
expanding condition on Bitcoin for
example<00:24:39.970><c> which</c><00:24:40.120><c> says</c><00:24:40.390><c> if</c><00:24:40.870><c> you</c><00:24:41.170><c> really</c><00:24:41.410><c> if</c><00:24:41.680><c> you</c>

00:24:41.700 --> 00:24:41.710 align:start position:0%
example which says if you really if you
 

00:24:41.710 --> 00:24:43.560 align:start position:0%
example which says if you really if you
can<00:24:41.950><c> provide</c><00:24:42.220><c> me</c><00:24:42.370><c> with</c><00:24:42.460><c> a</c><00:24:42.520><c> secret</c><00:24:42.850><c> you</c><00:24:43.360><c> can</c>

00:24:43.560 --> 00:24:43.570 align:start position:0%
can provide me with a secret you can
 

00:24:43.570 --> 00:24:45.570 align:start position:0%
can provide me with a secret you can
take<00:24:43.750><c> these</c><00:24:43.900><c> quotes</c><00:24:44.230><c> and</c><00:24:44.410><c> Bob</c><00:24:45.010><c> does</c><00:24:45.250><c> the</c><00:24:45.370><c> same</c>

00:24:45.570 --> 00:24:45.580 align:start position:0%
take these quotes and Bob does the same
 

00:24:45.580 --> 00:24:46.950 align:start position:0%
take these quotes and Bob does the same
thing<00:24:45.820><c> so</c><00:24:45.970><c> usually</c><00:24:46.330><c> they'll</c><00:24:46.480><c> have</c><00:24:46.660><c> a</c><00:24:46.690><c> setup</c>

00:24:46.950 --> 00:24:46.960 align:start position:0%
thing so usually they'll have a setup
 

00:24:46.960 --> 00:24:48.270 align:start position:0%
thing so usually they'll have a setup
phase<00:24:47.230><c> in</c><00:24:47.440><c> exchange</c><00:24:47.770><c> for</c><00:24:47.830><c> application</c>

00:24:48.270 --> 00:24:48.280 align:start position:0%
phase in exchange for application
 

00:24:48.280 --> 00:24:50.430 align:start position:0%
phase in exchange for application
transactions<00:24:48.850><c> and</c><00:24:49.030><c> so</c><00:24:49.630><c> on</c><00:24:49.720><c> but</c><00:24:50.020><c> then</c><00:24:50.260><c> they</c>

00:24:50.430 --> 00:24:50.440 align:start position:0%
transactions and so on but then they
 

00:24:50.440 --> 00:24:54.180 align:start position:0%
transactions and so on but then they
both<00:24:50.650><c> know</c><00:24:50.950><c> the</c><00:24:51.160><c> hash</c><00:24:51.400><c> of</c><00:24:51.700><c> the</c><00:24:52.300><c> secret</c><00:24:52.660><c> so</c><00:24:53.590><c> Bob</c>

00:24:54.180 --> 00:24:54.190 align:start position:0%
both know the hash of the secret so Bob
 

00:24:54.190 --> 00:24:56.970 align:start position:0%
both know the hash of the secret so Bob
names<00:24:54.640><c> the</c><00:24:54.820><c> same</c><00:24:54.850><c> lock</c><00:24:55.470><c> now</c><00:24:56.470><c> in</c><00:24:56.560><c> the</c><00:24:56.650><c> next</c><00:24:56.830><c> step</c>

00:24:56.970 --> 00:24:56.980 align:start position:0%
names the same lock now in the next step
 

00:24:56.980 --> 00:24:59.130 align:start position:0%
names the same lock now in the next step
we'll<00:24:57.250><c> if</c><00:24:57.460><c> Alice</c><00:24:57.850><c> wants</c><00:24:58.240><c> to</c><00:24:58.360><c> spend</c><00:24:58.630><c> Bob's</c><00:24:58.900><c> corn</c>

00:24:59.130 --> 00:24:59.140 align:start position:0%
we'll if Alice wants to spend Bob's corn
 

00:24:59.140 --> 00:25:00.960 align:start position:0%
we'll if Alice wants to spend Bob's corn
stress<00:24:59.470><c> to</c><00:24:59.590><c> reveal</c><00:24:59.830><c> the</c><00:24:59.950><c> secret</c><00:25:00.370><c> and</c><00:25:00.520><c> this</c>

00:25:00.960 --> 00:25:00.970 align:start position:0%
stress to reveal the secret and this
 

00:25:00.970 --> 00:25:02.940 align:start position:0%
stress to reveal the secret and this
again<00:25:01.270><c> ensures</c><00:25:01.630><c> that</c><00:25:01.750><c> bob</c><00:25:02.050><c> has</c><00:25:02.080><c> a</c><00:25:02.290><c> secret</c><00:25:02.680><c> and</c>

00:25:02.940 --> 00:25:02.950 align:start position:0%
again ensures that bob has a secret and
 

00:25:02.950 --> 00:25:05.430 align:start position:0%
again ensures that bob has a secret and
can<00:25:03.070><c> also</c><00:25:03.220><c> stay</c><00:25:03.730><c> calluses</c><00:25:04.150><c> Clause</c><00:25:04.440><c> now</c>

00:25:05.430 --> 00:25:05.440 align:start position:0%
can also stay calluses Clause now
 

00:25:05.440 --> 00:25:08.100 align:start position:0%
can also stay calluses Clause now
typically<00:25:06.280><c> you</c><00:25:06.550><c> also</c><00:25:06.820><c> have</c><00:25:07.210><c> time</c><00:25:07.630><c> locks</c><00:25:07.900><c> to</c>

00:25:08.100 --> 00:25:08.110 align:start position:0%
typically you also have time locks to
 

00:25:08.110 --> 00:25:08.670 align:start position:0%
typically you also have time locks to
prevent

00:25:08.670 --> 00:25:08.680 align:start position:0%
prevent
 

00:25:08.680 --> 00:25:10.200 align:start position:0%
prevent
one<00:25:08.830><c> of</c><00:25:08.950><c> the</c><00:25:09.040><c> parties</c><00:25:09.310><c> crashes</c><00:25:09.850><c> where</c><00:25:10.060><c> the</c>

00:25:10.200 --> 00:25:10.210 align:start position:0%
one of the parties crashes where the
 

00:25:10.210 --> 00:25:12.180 align:start position:0%
one of the parties crashes where the
exchange<00:25:10.360><c> never</c><00:25:10.900><c> starts</c><00:25:11.410><c> that</c><00:25:11.830><c> your</c><00:25:11.950><c> friends</c>

00:25:12.180 --> 00:25:12.190 align:start position:0%
exchange never starts that your friends
 

00:25:12.190 --> 00:25:14.550 align:start position:0%
exchange never starts that your friends
are<00:25:12.310><c> not</c><00:25:12.430><c> locked</c><00:25:12.820><c> up</c><00:25:12.970><c> indefinitely</c><00:25:13.350><c> but</c><00:25:14.350><c> this</c>

00:25:14.550 --> 00:25:14.560 align:start position:0%
are not locked up indefinitely but this
 

00:25:14.560 --> 00:25:16.710 align:start position:0%
are not locked up indefinitely but this
bears<00:25:14.800><c> a</c><00:25:14.920><c> problem</c><00:25:15.310><c> and</c><00:25:15.490><c> this</c><00:25:15.580><c> is</c><00:25:15.640><c> I</c><00:25:16.000><c> hope</c><00:25:16.390><c> the</c>

00:25:16.710 --> 00:25:16.720 align:start position:0%
bears a problem and this is I hope the
 

00:25:16.720 --> 00:25:18.030 align:start position:0%
bears a problem and this is I hope the
big<00:25:16.990><c> is</c><00:25:17.140><c> basically</c><00:25:17.440><c> this</c><00:25:17.590><c> is</c><00:25:17.740><c> my</c><00:25:17.890><c> digital</c>

00:25:18.030 --> 00:25:18.040 align:start position:0%
big is basically this is my digital
 

00:25:18.040 --> 00:25:20.430 align:start position:0%
big is basically this is my digital
seized<00:25:18.430><c> unsolved</c><00:25:19.000><c> opponent</c><00:25:19.480><c> or</c><00:25:19.960><c> the</c><00:25:19.990><c> constant</c>

00:25:20.430 --> 00:25:20.440 align:start position:0%
seized unsolved opponent or the constant
 

00:25:20.440 --> 00:25:22.440 align:start position:0%
seized unsolved opponent or the constant
communication<00:25:20.860><c> problem</c><00:25:21.250><c> because</c><00:25:22.210><c> what</c><00:25:22.330><c> can</c>

00:25:22.440 --> 00:25:22.450 align:start position:0%
communication problem because what can
 

00:25:22.450 --> 00:25:26.070 align:start position:0%
communication problem because what can
happen<00:25:22.510><c> is</c><00:25:23.020><c> Ibaka</c><00:25:23.530><c> crash</c><00:25:23.910><c> right</c><00:25:24.910><c> Alice</c><00:25:25.720><c> spends</c>

00:25:26.070 --> 00:25:26.080 align:start position:0%
happen is Ibaka crash right Alice spends
 

00:25:26.080 --> 00:25:27.720 align:start position:0%
happen is Ibaka crash right Alice spends
the<00:25:26.200><c> coins</c><00:25:26.410><c> from</c><00:25:26.590><c> ethereal</c><00:25:27.100><c> believable</c>

00:25:27.720 --> 00:25:27.730 align:start position:0%
the coins from ethereal believable
 

00:25:27.730 --> 00:25:29.280 align:start position:0%
the coins from ethereal believable
reveals<00:25:27.970><c> a</c><00:25:28.090><c> secret</c><00:25:28.210><c> but</c><00:25:28.510><c> Bob</c><00:25:28.690><c> never</c><00:25:28.900><c> sees</c><00:25:29.170><c> it</c>

00:25:29.280 --> 00:25:29.290 align:start position:0%
reveals a secret but Bob never sees it
 

00:25:29.290 --> 00:25:31.380 align:start position:0%
reveals a secret but Bob never sees it
because<00:25:29.380><c> he's</c><00:25:29.710><c> crashed</c><00:25:30.010><c> and</c><00:25:30.880><c> what</c><00:25:31.090><c> happens</c>

00:25:31.380 --> 00:25:31.390 align:start position:0%
because he's crashed and what happens
 

00:25:31.390 --> 00:25:33.150 align:start position:0%
because he's crashed and what happens
then<00:25:31.570><c> is</c><00:25:31.600><c> Alice</c><00:25:32.110><c> can</c><00:25:32.290><c> wait</c><00:25:32.470><c> until</c><00:25:32.620><c> the</c><00:25:32.830><c> time</c><00:25:33.010><c> it</c>

00:25:33.150 --> 00:25:33.160 align:start position:0%
then is Alice can wait until the time it
 

00:25:33.160 --> 00:25:35.370 align:start position:0%
then is Alice can wait until the time it
expires<00:25:33.550><c> and</c><00:25:33.820><c> take</c><00:25:34.360><c> her</c><00:25:34.600><c> coins</c><00:25:34.840><c> back</c><00:25:35.110><c> from</c><00:25:35.290><c> the</c>

00:25:35.370 --> 00:25:35.380 align:start position:0%
expires and take her coins back from the
 

00:25:35.380 --> 00:25:37.800 align:start position:0%
expires and take her coins back from the
Bigfoot<00:25:35.530><c> side</c><00:25:35.950><c> that's</c><00:25:36.580><c> why</c><00:25:36.730><c> it</c><00:25:36.790><c> looks</c><00:25:37.690><c> like</c>

00:25:37.800 --> 00:25:37.810 align:start position:0%
Bigfoot side that's why it looks like
 

00:25:37.810 --> 00:25:40.800 align:start position:0%
Bigfoot side that's why it looks like
this<00:25:37.960><c> it</c><00:25:38.650><c> doesn't</c><00:25:39.010><c> matter</c><00:25:39.160><c> it</c><00:25:39.730><c> doesn't</c><00:25:39.940><c> rush</c>

00:25:40.800 --> 00:25:40.810 align:start position:0%
this it doesn't matter it doesn't rush
 

00:25:40.810 --> 00:25:45.450 align:start position:0%
this it doesn't matter it doesn't rush
is<00:25:41.050><c> know</c><00:25:41.760><c> there</c><00:25:42.760><c> are</c><00:25:43.030><c> crashes</c><00:25:43.680><c> before</c><00:25:44.680><c> heat</c><00:25:45.190><c> so</c>

00:25:45.450 --> 00:25:45.460 align:start position:0%
is know there are crashes before heat so
 

00:25:45.460 --> 00:25:47.400 align:start position:0%
is know there are crashes before heat so
up<00:25:45.850><c> never</c><00:25:46.210><c> have</c><00:25:46.390><c> even</c><00:25:46.630><c> sees</c><00:25:46.960><c> the</c><00:25:47.080><c> secret</c>

00:25:47.400 --> 00:25:47.410 align:start position:0%
up never have even sees the secret
 

00:25:47.410 --> 00:25:49.440 align:start position:0%
up never have even sees the secret
teachers<00:25:47.710><c> of</c><00:25:47.830><c> life</c><00:25:48.040><c> they</c><00:25:48.460><c> boasted</c><00:25:48.850><c> a</c><00:25:48.970><c> lot</c><00:25:49.150><c> and</c>

00:25:49.440 --> 00:25:49.450 align:start position:0%
teachers of life they boasted a lot and
 

00:25:49.450 --> 00:25:52.320 align:start position:0%
teachers of life they boasted a lot and
he<00:25:49.690><c> crashed</c><00:25:49.960><c> when</c><00:25:50.890><c> the</c><00:25:51.670><c> secret</c><00:25:52.090><c> is</c><00:25:52.210><c> still</c>

00:25:52.320 --> 00:25:52.330 align:start position:0%
he crashed when the secret is still
 

00:25:52.330 --> 00:25:54.870 align:start position:0%
he crashed when the secret is still
there<00:25:52.690><c> just</c><00:25:53.440><c> have</c><00:25:53.620><c> to</c><00:25:53.740><c> find</c><00:25:54.040><c> it</c><00:25:54.280><c> it</c><00:25:54.640><c> means</c>

00:25:54.870 --> 00:25:54.880 align:start position:0%
there just have to find it it means
 

00:25:54.880 --> 00:25:56.370 align:start position:0%
there just have to find it it means
everything<00:25:55.330><c> is</c><00:25:55.420><c> public</c><00:25:55.570><c> you</c><00:25:55.990><c> don't</c><00:25:56.050><c> know</c><00:25:56.230><c> but</c>

00:25:56.370 --> 00:25:56.380 align:start position:0%
everything is public you don't know but
 

00:25:56.380 --> 00:25:58.200 align:start position:0%
everything is public you don't know but
love<00:25:56.530><c> Bob</c><00:25:56.860><c> the</c><00:25:57.160><c> guy</c><00:25:57.340><c> who</c><00:25:57.400><c> could</c><00:25:57.760><c> spend</c><00:25:58.030><c> these</c>

00:25:58.200 --> 00:25:58.210 align:start position:0%
love Bob the guy who could spend these
 

00:25:58.210 --> 00:25:59.850 align:start position:0%
love Bob the guy who could spend these
coins<00:25:58.570><c> because</c><00:25:59.020><c> this</c><00:25:59.140><c> is</c><00:25:59.260><c> not</c><00:25:59.350><c> just</c><00:25:59.590><c> the</c><00:25:59.710><c> hash</c>

00:25:59.850 --> 00:25:59.860 align:start position:0%
coins because this is not just the hash
 

00:25:59.860 --> 00:26:01.530 align:start position:0%
coins because this is not just the hash
book<00:26:00.100><c> it's</c><00:26:00.250><c> hash</c><00:26:00.460><c> lock</c><00:26:00.730><c> ended</c><00:26:01.090><c> up</c><00:26:01.270><c> singing</c>

00:26:01.530 --> 00:26:01.540 align:start position:0%
book it's hash lock ended up singing
 

00:26:01.540 --> 00:26:03.540 align:start position:0%
book it's hash lock ended up singing
from<00:26:01.810><c> the</c><00:26:01.870><c> business</c><00:26:02.260><c> right</c><00:26:02.560><c> this</c><00:26:03.160><c> can</c><00:26:03.340><c> only</c><00:26:03.490><c> be</c>

00:26:03.540 --> 00:26:03.550 align:start position:0%
from the business right this can only be
 

00:26:03.550 --> 00:26:05.370 align:start position:0%
from the business right this can only be
spent<00:26:03.820><c> ballast</c><00:26:04.240><c> is</c><00:26:04.540><c> can</c><00:26:04.810><c> only</c><00:26:04.960><c> be</c><00:26:05.050><c> spent</c><00:26:05.230><c> my</c>

00:26:05.370 --> 00:26:05.380 align:start position:0%
spent ballast is can only be spent my
 

00:26:05.380 --> 00:26:08.460 align:start position:0%
spent ballast is can only be spent my
bomb<00:26:05.590><c> right</c><00:26:06.420><c> so</c><00:26:07.420><c> that's</c><00:26:07.990><c> how</c><00:26:08.140><c> I</c><00:26:08.200><c> shoulda</c>

00:26:08.460 --> 00:26:08.470 align:start position:0%
bomb right so that's how I shoulda
 

00:26:08.470 --> 00:26:10.890 align:start position:0%
bomb right so that's how I shoulda
season<00:26:08.830><c> struggle</c><00:26:09.160><c> in</c><00:26:09.250><c> scenario</c><00:26:09.730><c> and</c><00:26:10.030><c> if</c><00:26:10.600><c> both</c>

00:26:10.890 --> 00:26:10.900 align:start position:0%
season struggle in scenario and if both
 

00:26:10.900 --> 00:26:13.290 align:start position:0%
season struggle in scenario and if both
crashes<00:26:11.470><c> and</c><00:26:11.680><c> he</c><00:26:11.800><c> never</c><00:26:12.070><c> sees</c><00:26:12.430><c> the</c><00:26:12.460><c> secret</c><00:26:13.060><c> and</c>

00:26:13.290 --> 00:26:13.300 align:start position:0%
crashes and he never sees the secret and
 

00:26:13.300 --> 00:26:15.390 align:start position:0%
crashes and he never sees the secret and
he<00:26:13.840><c> does</c><00:26:14.020><c> not</c><00:26:14.170><c> come</c><00:26:14.410><c> online</c><00:26:14.650><c> before</c><00:26:14.890><c> the</c><00:26:15.160><c> time</c>

00:26:15.390 --> 00:26:15.400 align:start position:0%
he does not come online before the time
 

00:26:15.400 --> 00:26:18.000 align:start position:0%
he does not come online before the time
look<00:26:15.550><c> of</c><00:26:15.730><c> this</c><00:26:15.970><c> thing</c><00:26:16.300><c> expires</c><00:26:16.800><c> Alice</c><00:26:17.800><c> can</c>

00:26:18.000 --> 00:26:18.010 align:start position:0%
look of this thing expires Alice can
 

00:26:18.010 --> 00:26:19.860 align:start position:0%
look of this thing expires Alice can
withdraw<00:26:18.220><c> because</c><00:26:18.640><c> that's</c><00:26:19.030><c> it</c><00:26:19.210><c> that's</c><00:26:19.630><c> why</c>

00:26:19.860 --> 00:26:19.870 align:start position:0%
withdraw because that's it that's why
 

00:26:19.870 --> 00:26:23.490 align:start position:0%
withdraw because that's it that's why
I'm<00:26:20.560><c> not</c><00:26:20.740><c> in</c><00:26:21.070><c> a</c><00:26:21.490><c> way</c><00:26:21.790><c> like</c><00:26:22.000><c> this</c><00:26:22.240><c> so</c><00:26:22.780><c> he</c><00:26:23.350><c> has</c>

00:26:23.490 --> 00:26:23.500 align:start position:0%
I'm not in a way like this so he has
 

00:26:23.500 --> 00:26:25.490 align:start position:0%
I'm not in a way like this so he has
enough<00:26:23.770><c> time</c><00:26:24.010><c> to</c><00:26:24.130><c> do</c><00:26:24.520><c> it</c>

00:26:25.490 --> 00:26:25.500 align:start position:0%
enough time to do it
 

00:26:25.500 --> 00:26:28.230 align:start position:0%
enough time to do it
okay<00:26:26.500><c> Jochen</c><00:26:27.040><c> it's</c><00:26:27.190><c> not</c><00:26:27.400><c> a</c><00:26:27.430><c> contradiction</c><00:26:27.760><c> yes</c>

00:26:28.230 --> 00:26:28.240 align:start position:0%
okay Jochen it's not a contradiction yes
 

00:26:28.240 --> 00:26:29.790 align:start position:0%
okay Jochen it's not a contradiction yes
you<00:26:28.420><c> do</c><00:26:28.510><c> that</c><00:26:28.660><c> it</c><00:26:28.840><c> was</c><00:26:29.020><c> a</c><00:26:29.050><c> time</c><00:26:29.320><c> lapse</c><00:26:29.530><c> but</c><00:26:29.680><c> if</c>

00:26:29.790 --> 00:26:29.800 align:start position:0%
you do that it was a time lapse but if
 

00:26:29.800 --> 00:26:32.040 align:start position:0%
you do that it was a time lapse but if
he's<00:26:29.950><c> offline</c><00:26:30.280><c> no</c><00:26:30.670><c> man</c><00:26:30.850><c> indefinitely</c><00:26:31.720><c> the</c>

00:26:32.040 --> 00:26:32.050 align:start position:0%
he's offline no man indefinitely the
 

00:26:32.050 --> 00:26:35.010 align:start position:0%
he's offline no man indefinitely the
travel<00:26:32.410><c> is</c><00:26:32.530><c> P</c><00:26:32.680><c> type</c><00:26:32.910><c> of</c><00:26:33.910><c> mining</c><00:26:34.450><c> definitely</c><00:26:34.930><c> of</c>

00:26:35.010 --> 00:26:35.020 align:start position:0%
travel is P type of mining definitely of
 

00:26:35.020 --> 00:26:35.880 align:start position:0%
travel is P type of mining definitely of
course

00:26:35.880 --> 00:26:35.890 align:start position:0%
course
 

00:26:35.890 --> 00:26:37.950 align:start position:0%
course
the<00:26:36.160><c> youth</c><00:26:36.429><c> participant</c><00:26:37.179><c> walked</c><00:26:37.360><c> resolutions</c>

00:26:37.950 --> 00:26:37.960 align:start position:0%
the youth participant walked resolutions
 

00:26:37.960 --> 00:26:39.390 align:start position:0%
the youth participant walked resolutions
okay<00:26:38.260><c> yeah</c><00:26:38.500><c> well</c><00:26:38.710><c> I</c><00:26:38.770><c> think</c><00:26:38.920><c> these</c><00:26:39.040><c> are</c><00:26:39.100><c> fine</c>

00:26:39.390 --> 00:26:39.400 align:start position:0%
okay yeah well I think these are fine
 

00:26:39.400 --> 00:26:41.220 align:start position:0%
okay yeah well I think these are fine
but<00:26:39.580><c> that's</c><00:26:39.730><c> impossibility</c><00:26:40.270><c> so</c><00:26:40.630><c> you're</c><00:26:41.049><c> very</c>

00:26:41.220 --> 00:26:41.230 align:start position:0%
but that's impossibility so you're very
 

00:26:41.230 --> 00:26:42.990 align:start position:0%
but that's impossibility so you're very
good<00:26:41.620><c> yeah</c><00:26:42.160><c> I</c><00:26:42.370><c> mean</c><00:26:42.490><c> of</c><00:26:42.640><c> course</c><00:26:42.790><c> it's</c>

00:26:42.990 --> 00:26:43.000 align:start position:0%
good yeah I mean of course it's
 

00:26:43.000 --> 00:26:45.660 align:start position:0%
good yeah I mean of course it's
essentially<00:26:43.390><c> what</c><00:26:43.510><c> a</c><00:26:43.540><c> bomb</c><00:26:43.750><c> does</c><00:26:44.309><c> yeah</c><00:26:45.309><c> it's</c>

00:26:45.660 --> 00:26:45.670 align:start position:0%
essentially what a bomb does yeah it's
 

00:26:45.670 --> 00:26:48.030 align:start position:0%
essentially what a bomb does yeah it's
bad<00:26:46.000><c> but</c><00:26:46.270><c> it's</c><00:26:46.299><c> it's</c><00:26:47.080><c> still</c><00:26:47.260><c> impossible</c><00:26:47.530><c> with</c>

00:26:48.030 --> 00:26:48.040 align:start position:0%
bad but it's it's still impossible with
 

00:26:48.040 --> 00:26:50.010 align:start position:0%
bad but it's it's still impossible with
and<00:26:48.280><c> without</c><00:26:48.400><c> anyone</c><00:26:48.820><c> enforcing</c><00:26:49.450><c> that</c><00:26:49.480><c> he</c>

00:26:50.010 --> 00:26:50.020 align:start position:0%
and without anyone enforcing that he
 

00:26:50.020 --> 00:26:52.799 align:start position:0%
and without anyone enforcing that he
stays<00:26:50.230><c> online</c><00:26:50.410><c> that's</c><00:26:51.370><c> a</c><00:26:51.549><c> result</c><00:26:51.670><c> I</c><00:26:52.090><c> don't</c><00:26:52.450><c> say</c>

00:26:52.799 --> 00:26:52.809 align:start position:0%
stays online that's a result I don't say
 

00:26:52.809 --> 00:26:54.299 align:start position:0%
stays online that's a result I don't say
that<00:26:52.990><c> you</c><00:26:53.110><c> should</c><00:26:53.350><c> participate</c><00:26:53.679><c> in</c><00:26:54.190><c> the</c>

00:26:54.299 --> 00:26:54.309 align:start position:0%
that you should participate in the
 

00:26:54.309 --> 00:26:55.710 align:start position:0%
that you should participate in the
exchange<00:26:54.490><c> if</c><00:26:54.760><c> you</c><00:26:54.880><c> think</c><00:26:55.240><c> you</c><00:26:55.360><c> may</c><00:26:55.480><c> crash</c>

00:26:55.710 --> 00:26:55.720 align:start position:0%
exchange if you think you may crash
 

00:26:55.720 --> 00:26:57.450 align:start position:0%
exchange if you think you may crash
that's<00:26:56.440><c> where</c><00:26:56.650><c> you</c><00:26:56.710><c> can</c><00:26:56.799><c> always</c><00:26:56.950><c> watch</c><00:26:57.190><c> stars</c>

00:26:57.450 --> 00:26:57.460 align:start position:0%
that's where you can always watch stars
 

00:26:57.460 --> 00:27:02.610 align:start position:0%
that's where you can always watch stars
but<00:26:57.700><c> still</c><00:26:59.820><c> now</c><00:27:00.820><c> you</c><00:27:01.210><c> can</c><00:27:01.299><c> also</c><00:27:01.450><c> do</c><00:27:01.750><c> is</c><00:27:02.380><c> you</c><00:27:02.559><c> can</c>

00:27:02.610 --> 00:27:02.620 align:start position:0%
but still now you can also do is you can
 

00:27:02.620 --> 00:27:04.590 align:start position:0%
but still now you can also do is you can
try<00:27:02.950><c> to</c><00:27:03.010><c> say</c><00:27:03.309><c> well</c><00:27:03.490><c> what</c><00:27:03.730><c> if</c><00:27:03.820><c> Bob</c><00:27:04.059><c> is</c><00:27:04.210><c> we</c><00:27:04.450><c> can</c>

00:27:04.590 --> 00:27:04.600 align:start position:0%
try to say well what if Bob is we can
 

00:27:04.600 --> 00:27:06.450 align:start position:0%
try to say well what if Bob is we can
make<00:27:04.750><c> sure</c><00:27:04.809><c> that</c><00:27:05.020><c> Bob</c><00:27:05.290><c> actually</c><00:27:05.500><c> is</c><00:27:05.830><c> a</c><00:27:05.950><c> livable</c>

00:27:06.450 --> 00:27:06.460 align:start position:0%
make sure that Bob actually is a livable
 

00:27:06.460 --> 00:27:07.860 align:start position:0%
make sure that Bob actually is a livable
time<00:27:06.670><c> and</c><00:27:06.880><c> he</c><00:27:06.970><c> can</c><00:27:07.090><c> actually</c><00:27:07.240><c> go</c><00:27:07.570><c> flying</c>

00:27:07.860 --> 00:27:07.870 align:start position:0%
time and he can actually go flying
 

00:27:07.870 --> 00:27:09.510 align:start position:0%
time and he can actually go flying
because<00:27:08.049><c> using</c><00:27:08.500><c> this</c><00:27:08.559><c> in</c><00:27:08.710><c> our</c><00:27:08.740><c> contract</c><00:27:09.190><c> and</c>

00:27:09.510 --> 00:27:09.520 align:start position:0%
because using this in our contract and
 

00:27:09.520 --> 00:27:11.130 align:start position:0%
because using this in our contract and
that's<00:27:09.730><c> the</c><00:27:09.820><c> same</c><00:27:10.030><c> example</c><00:27:10.480><c> as</c><00:27:10.540><c> we</c><00:27:10.660><c> show</c><00:27:10.809><c> using</c>

00:27:11.130 --> 00:27:11.140 align:start position:0%
that's the same example as we show using
 

00:27:11.140 --> 00:27:13.530 align:start position:0%
that's the same example as we show using
a<00:27:11.200><c> disability</c><00:27:11.740><c> zone</c><00:27:11.919><c> so</c><00:27:12.640><c> Bob</c><00:27:12.850><c> walks</c><00:27:13.120><c> is</c><00:27:13.299><c> fun</c>

00:27:13.530 --> 00:27:13.540 align:start position:0%
a disability zone so Bob walks is fun
 

00:27:13.540 --> 00:27:15.180 align:start position:0%
a disability zone so Bob walks is fun
looks<00:27:14.290><c> launched</c><00:27:14.500><c> this</c><00:27:14.650><c> coincidence</c><00:27:15.070><c> my</c>

00:27:15.180 --> 00:27:15.190 align:start position:0%
looks launched this coincidence my
 

00:27:15.190 --> 00:27:16.980 align:start position:0%
looks launched this coincidence my
contract<00:27:15.610><c> and</c><00:27:15.669><c> says</c><00:27:15.880><c> okay</c><00:27:16.150><c> well</c><00:27:16.330><c> if</c><00:27:16.690><c> you</c><00:27:16.840><c> can</c>

00:27:16.980 --> 00:27:16.990 align:start position:0%
contract and says okay well if you can
 

00:27:16.990 --> 00:27:18.900 align:start position:0%
contract and says okay well if you can
prove<00:27:17.230><c> to</c><00:27:17.290><c> this</c><00:27:17.500><c> contract</c><00:27:17.950><c> or</c><00:27:18.100><c> any</c><00:27:18.280><c> way</c><00:27:18.520><c> that</c>

00:27:18.900 --> 00:27:18.910 align:start position:0%
prove to this contract or any way that
 

00:27:18.910 --> 00:27:20.640 align:start position:0%
prove to this contract or any way that
you<00:27:19.000><c> send</c><00:27:19.270><c> Bitcoin</c><00:27:19.720><c> into</c><00:27:19.960><c> my</c><00:27:20.080><c> account</c><00:27:20.380><c> on</c><00:27:20.530><c> the</c>

00:27:20.640 --> 00:27:20.650 align:start position:0%
you send Bitcoin into my account on the
 

00:27:20.650 --> 00:27:22.530 align:start position:0%
you send Bitcoin into my account on the
Bitcoin<00:27:20.799><c> side</c><00:27:21.160><c> you</c><00:27:21.760><c> contain</c><00:27:22.090><c> these</c><00:27:22.270><c> quotes</c>

00:27:22.530 --> 00:27:22.540 align:start position:0%
Bitcoin side you contain these quotes
 

00:27:22.540 --> 00:27:24.720 align:start position:0%
Bitcoin side you contain these quotes
and<00:27:23.169><c> now</c><00:27:23.380><c> the</c><00:27:23.440><c> responsibilities</c><00:27:24.309><c> on</c><00:27:24.429><c> Alice</c>

00:27:24.720 --> 00:27:24.730 align:start position:0%
and now the responsibilities on Alice
 

00:27:24.730 --> 00:27:26.640 align:start position:0%
and now the responsibilities on Alice
because<00:27:25.270><c> she</c><00:27:25.480><c> is</c><00:27:25.600><c> the</c><00:27:25.630><c> one</c><00:27:25.750><c> who</c><00:27:26.049><c> has</c><00:27:26.169><c> to</c><00:27:26.410><c> push</c>

00:27:26.640 --> 00:27:26.650 align:start position:0%
because she is the one who has to push
 

00:27:26.650 --> 00:27:29.130 align:start position:0%
because she is the one who has to push
the<00:27:26.679><c> coins</c><00:27:27.040><c> to</c><00:27:27.250><c> Bitcoin</c><00:27:27.669><c> and</c><00:27:27.880><c> also</c><00:27:28.720><c> send</c><00:27:29.049><c> the</c>

00:27:29.130 --> 00:27:29.140 align:start position:0%
the coins to Bitcoin and also send the
 

00:27:29.140 --> 00:27:31.590 align:start position:0%
the coins to Bitcoin and also send the
crunch<00:27:29.320><c> of</c><00:27:29.440><c> MIT</c><00:27:29.590><c> pen</c><00:27:29.740><c> and</c><00:27:29.860><c> push</c><00:27:30.010><c> the</c><00:27:30.160><c> proof</c><00:27:30.600><c> the</c>

00:27:31.590 --> 00:27:31.600 align:start position:0%
crunch of MIT pen and push the proof the
 

00:27:31.600 --> 00:27:33.600 align:start position:0%
crunch of MIT pen and push the proof the
problem<00:27:32.049><c> is</c><00:27:32.140><c> so</c><00:27:32.380><c> Bob</c><00:27:32.590><c> can</c><00:27:32.770><c> go</c><00:27:32.950><c> offline</c><00:27:33.280><c> for</c>

00:27:33.600 --> 00:27:33.610 align:start position:0%
problem is so Bob can go offline for
 

00:27:33.610 --> 00:27:35.669 align:start position:0%
problem is so Bob can go offline for
what<00:27:33.940><c> if</c><00:27:34.030><c> Alice</c><00:27:34.270><c> crashes</c><00:27:34.630><c> so</c><00:27:35.049><c> Alice</c><00:27:35.350><c> sends</c><00:27:35.559><c> the</c>

00:27:35.669 --> 00:27:35.679 align:start position:0%
what if Alice crashes so Alice sends the
 

00:27:35.679 --> 00:27:38.310 align:start position:0%
what if Alice crashes so Alice sends the
Bitcoin<00:27:36.070><c> and</c><00:27:36.280><c> then</c><00:27:36.760><c> she</c><00:27:36.880><c> goes</c><00:27:36.970><c> offline</c><00:27:37.270><c> and</c><00:27:37.630><c> of</c>

00:27:38.310 --> 00:27:38.320 align:start position:0%
Bitcoin and then she goes offline and of
 

00:27:38.320 --> 00:27:39.840 align:start position:0%
Bitcoin and then she goes offline and of
course<00:27:38.590><c> Bob</c><00:27:38.830><c> could</c><00:27:39.040><c> say</c><00:27:39.220><c> well</c><00:27:39.429><c> okay</c><00:27:39.730><c> I'm</c><00:27:39.790><c> a</c>

00:27:39.840 --> 00:27:39.850 align:start position:0%
course Bob could say well okay I'm a
 

00:27:39.850 --> 00:27:42.120 align:start position:0%
course Bob could say well okay I'm a
nice<00:27:40.030><c> guy</c><00:27:40.299><c> I'll</c><00:27:41.049><c> give</c><00:27:41.260><c> you</c><00:27:41.380><c> all</c><00:27:41.410><c> out</c><00:27:41.740><c> send</c><00:27:42.040><c> the</c>

00:27:42.120 --> 00:27:42.130 align:start position:0%
nice guy I'll give you all out send the
 

00:27:42.130 --> 00:27:43.620 align:start position:0%
nice guy I'll give you all out send the
proof<00:27:42.309><c> myself</c><00:27:42.490><c> or</c><00:27:42.850><c> anyone</c><00:27:43.030><c> else</c><00:27:43.240><c> could</c><00:27:43.450><c> do</c><00:27:43.570><c> it</c>

00:27:43.620 --> 00:27:43.630 align:start position:0%
proof myself or anyone else could do it
 

00:27:43.630 --> 00:27:44.640 align:start position:0%
proof myself or anyone else could do it
that's<00:27:43.840><c> already</c><00:27:43.990><c> an</c><00:27:44.110><c> improvement</c><00:27:44.350><c> because</c>

00:27:44.640 --> 00:27:44.650 align:start position:0%
that's already an improvement because
 

00:27:44.650 --> 00:27:46.770 align:start position:0%
that's already an improvement because
now<00:27:44.980><c> anyone</c><00:27:45.130><c> can</c><00:27:45.429><c> push</c><00:27:45.610><c> the</c><00:27:45.730><c> proof</c><00:27:45.970><c> and</c><00:27:46.240><c> the</c>

00:27:46.770 --> 00:27:46.780 align:start position:0%
now anyone can push the proof and the
 

00:27:46.780 --> 00:27:48.180 align:start position:0%
now anyone can push the proof and the
contract<00:27:47.230><c> will</c><00:27:47.350><c> give</c><00:27:47.500><c> you</c><00:27:47.590><c> the</c><00:27:47.710><c> coins</c><00:27:47.919><c> but</c>

00:27:48.180 --> 00:27:48.190 align:start position:0%
contract will give you the coins but
 

00:27:48.190 --> 00:27:49.890 align:start position:0%
contract will give you the coins but
it's<00:27:48.760><c> again</c><00:27:49.030><c> if</c><00:27:49.240><c> you</c><00:27:49.330><c> think</c><00:27:49.360><c> about</c><00:27:49.630><c> it's</c><00:27:49.870><c> the</c>

00:27:49.890 --> 00:27:49.900 align:start position:0%
it's again if you think about it's the
 

00:27:49.900 --> 00:27:51.590 align:start position:0%
it's again if you think about it's the
same<00:27:50.110><c> thing</c><00:27:50.260><c> as</c><00:27:50.350><c> when</c><00:27:50.470><c> hto</c><00:27:50.860><c> seats</c><00:27:51.100><c> and</c>

00:27:51.590 --> 00:27:51.600 align:start position:0%
same thing as when hto seats and
 

00:27:51.600 --> 00:27:54.060 align:start position:0%
same thing as when hto seats and
furthermore<00:27:52.600><c> if</c><00:27:53.020><c> this</c><00:27:53.410><c> time</c><00:27:53.590><c> of</c><00:27:53.710><c> expires</c>

00:27:54.060 --> 00:27:54.070 align:start position:0%
furthermore if this time of expires
 

00:27:54.070 --> 00:27:56.940 align:start position:0%
furthermore if this time of expires
again<00:27:54.400><c> Bob</c><00:27:54.850><c> can</c><00:27:55.090><c> take</c><00:27:55.270><c> the</c><00:27:55.390><c> quiz</c><00:27:55.540><c> at</c><00:27:55.780><c> so</c><00:27:56.410><c> in</c><00:27:56.620><c> if</c>

00:27:56.940 --> 00:27:56.950 align:start position:0%
again Bob can take the quiz at so in if
 

00:27:56.950 --> 00:27:58.830 align:start position:0%
again Bob can take the quiz at so in if
Alice<00:27:57.340><c> crashes</c><00:27:57.820><c> and</c><00:27:58.030><c> she's</c><00:27:58.210><c> a</c><00:27:58.240><c> fine</c><00:27:58.600><c> or</c>

00:27:58.830 --> 00:27:58.840 align:start position:0%
Alice crashes and she's a fine or
 

00:27:58.840 --> 00:28:00.720 align:start position:0%
Alice crashes and she's a fine or
promise<00:27:59.200><c> the</c><00:27:59.350><c> guy</c><00:27:59.500><c> who</c><00:27:59.559><c> actually</c><00:27:59.799><c> has</c><00:28:00.370><c> a</c><00:28:00.429><c> close</c>

00:28:00.720 --> 00:28:00.730 align:start position:0%
promise the guy who actually has a close
 

00:28:00.730 --> 00:28:01.890 align:start position:0%
promise the guy who actually has a close
to<00:28:00.850><c> the</c><00:28:00.940><c> knowledge</c><00:28:01.179><c> service</c><00:28:01.419><c> attack</c><00:28:01.660><c> against</c>

00:28:01.890 --> 00:28:01.900 align:start position:0%
to the knowledge service attack against
 

00:28:01.900 --> 00:28:07.130 align:start position:0%
to the knowledge service attack against
Alice<00:28:02.230><c> here</c><00:28:02.980><c> you</c><00:28:03.040><c> can</c><00:28:03.190><c> actually</c><00:28:03.370><c> steal</c><00:28:03.820><c> quote</c>

00:28:07.130 --> 00:28:07.140 align:start position:0%
 
 

00:28:07.140 --> 00:28:09.260 align:start position:0%
 
so<00:28:07.830><c> another</c><00:28:08.309><c> approach</c><00:28:08.490><c> and</c><00:28:08.970><c> this</c><00:28:09.120><c> is</c>

00:28:09.260 --> 00:28:09.270 align:start position:0%
so another approach and this is
 

00:28:09.270 --> 00:28:10.580 align:start position:0%
so another approach and this is
basically<00:28:09.660><c> some</c><00:28:09.990><c> a</c><00:28:10.110><c> different</c><00:28:10.440><c> approach</c>

00:28:10.580 --> 00:28:10.590 align:start position:0%
basically some a different approach
 

00:28:10.590 --> 00:28:11.840 align:start position:0%
basically some a different approach
across<00:28:10.830><c> communications</c><00:28:11.640><c> use</c>

00:28:11.840 --> 00:28:11.850 align:start position:0%
across communications use
 

00:28:11.850 --> 00:28:13.370 align:start position:0%
across communications use
cryptocurrencies<00:28:12.270><c> back</c><00:28:12.570><c> assets</c><00:28:12.990><c> so</c><00:28:13.110><c> instead</c>

00:28:13.370 --> 00:28:13.380 align:start position:0%
cryptocurrencies back assets so instead
 

00:28:13.380 --> 00:28:14.750 align:start position:0%
cryptocurrencies back assets so instead
of<00:28:13.440><c> trying</c><00:28:13.799><c> to</c><00:28:13.950><c> circumvent</c><00:28:14.460><c> this</c>

00:28:14.750 --> 00:28:14.760 align:start position:0%
of trying to circumvent this
 

00:28:14.760 --> 00:28:16.520 align:start position:0%
of trying to circumvent this
impossibility<00:28:15.270><c> result</c><00:28:15.720><c> each</c><00:28:15.990><c> time</c><00:28:16.049><c> we</c>

00:28:16.520 --> 00:28:16.530 align:start position:0%
impossibility result each time we
 

00:28:16.530 --> 00:28:18.230 align:start position:0%
impossibility result each time we
exchange<00:28:16.890><c> but</c><00:28:17.340><c> we</c><00:28:17.460><c> can</c><00:28:17.640><c> do</c><00:28:17.760><c> is</c><00:28:17.850><c> we</c><00:28:17.940><c> can</c><00:28:18.090><c> create</c>

00:28:18.230 --> 00:28:18.240 align:start position:0%
exchange but we can do is we can create
 

00:28:18.240 --> 00:28:20.570 align:start position:0%
exchange but we can do is we can create
a<00:28:18.360><c> representation</c><00:28:18.720><c> of</c><00:28:19.320><c> Bitcoin</c><00:28:20.070><c> on</c><00:28:20.220><c> a</c><00:28:20.250><c> theater</c>

00:28:20.570 --> 00:28:20.580 align:start position:0%
a representation of Bitcoin on a theater
 

00:28:20.580 --> 00:28:22.610 align:start position:0%
a representation of Bitcoin on a theater
and<00:28:21.150><c> with</c><00:28:21.330><c> the</c><00:28:21.420><c> whole</c><00:28:21.540><c> paper</c><00:28:21.780><c> describing</c><00:28:22.380><c> this</c>

00:28:22.610 --> 00:28:22.620 align:start position:0%
and with the whole paper describing this
 

00:28:22.620 --> 00:28:24.919 align:start position:0%
and with the whole paper describing this
concept<00:28:23.070><c> term</c><00:28:23.580><c> to</c><00:28:23.700><c> explain</c><00:28:23.820><c> and</c><00:28:24.600><c> I'll</c><00:28:24.690><c> try</c><00:28:24.870><c> to</c>

00:28:24.919 --> 00:28:24.929 align:start position:0%
concept term to explain and I'll try to
 

00:28:24.929 --> 00:28:26.720 align:start position:0%
concept term to explain and I'll try to
give<00:28:25.110><c> a</c><00:28:25.200><c> very</c><00:28:25.320><c> very</c><00:28:25.440><c> brief</c><00:28:25.620><c> or</c><00:28:25.920><c> word</c><00:28:26.040><c> so</c><00:28:26.640><c> what</c>

00:28:26.720 --> 00:28:26.730 align:start position:0%
give a very very brief or word so what
 

00:28:26.730 --> 00:28:29.419 align:start position:0%
give a very very brief or word so what
you<00:28:26.850><c> do</c><00:28:26.970><c> is</c><00:28:27.150><c> you</c><00:28:27.990><c> send</c><00:28:28.290><c> coins</c><00:28:28.590><c> to</c><00:28:28.890><c> a</c><00:28:28.920><c> pulp</c><00:28:29.220><c> which</c>

00:28:29.419 --> 00:28:29.429 align:start position:0%
you do is you send coins to a pulp which
 

00:28:29.429 --> 00:28:32.000 align:start position:0%
you do is you send coins to a pulp which
is<00:28:29.580><c> collateralized</c><00:28:30.330><c> and</c><00:28:30.660><c> insured</c><00:28:31.470><c> through</c>

00:28:32.000 --> 00:28:32.010 align:start position:0%
is collateralized and insured through
 

00:28:32.010 --> 00:28:33.410 align:start position:0%
is collateralized and insured through
internet<00:28:32.370><c> serum</c><00:28:32.670><c> smart</c><00:28:32.880><c> contract</c><00:28:33.240><c> so</c><00:28:33.360><c> you</c>

00:28:33.410 --> 00:28:33.420 align:start position:0%
internet serum smart contract so you
 

00:28:33.420 --> 00:28:34.700 align:start position:0%
internet serum smart contract so you
have<00:28:33.540><c> to</c><00:28:33.630><c> give</c><00:28:33.780><c> through</c><00:28:33.990><c> it</c><00:28:34.049><c> to</c><00:28:34.170><c> guarantee</c>

00:28:34.700 --> 00:28:34.710 align:start position:0%
have to give through it to guarantee
 

00:28:34.710 --> 00:28:36.470 align:start position:0%
have to give through it to guarantee
that<00:28:34.740><c> if</c><00:28:35.220><c> if</c><00:28:35.520><c> nothing</c><00:28:35.850><c> goes</c><00:28:35.970><c> wrong</c><00:28:36.240><c> so</c><00:28:36.360><c> is</c>

00:28:36.470 --> 00:28:36.480 align:start position:0%
that if if nothing goes wrong so is
 

00:28:36.480 --> 00:28:37.280 align:start position:0%
that if if nothing goes wrong so is
something<00:28:36.660><c> was</c><00:28:36.900><c> wrong</c>

00:28:37.280 --> 00:28:37.290 align:start position:0%
something was wrong
 

00:28:37.290 --> 00:28:39.169 align:start position:0%
something was wrong
you'll<00:28:37.620><c> get</c><00:28:37.799><c> reimbursed</c><00:28:38.340><c> in</c><00:28:38.610><c> this</c><00:28:38.760><c> case</c><00:28:38.970><c> any</c>

00:28:39.169 --> 00:28:39.179 align:start position:0%
you'll get reimbursed in this case any
 

00:28:39.179 --> 00:28:40.460 align:start position:0%
you'll get reimbursed in this case any
theory<00:28:39.419><c> you</c><00:28:39.720><c> still</c><00:28:39.900><c> have</c><00:28:39.990><c> to</c><00:28:40.110><c> meet</c><00:28:40.230><c> agrees</c>

00:28:40.460 --> 00:28:40.470 align:start position:0%
theory you still have to meet agrees
 

00:28:40.470 --> 00:28:43.850 align:start position:0%
theory you still have to meet agrees
changes<00:28:40.910><c> now</c><00:28:42.140><c> Allison</c><00:28:43.140><c> submits</c><00:28:43.470><c> approved</c><00:28:43.770><c> to</c>

00:28:43.850 --> 00:28:43.860 align:start position:0%
changes now Allison submits approved to
 

00:28:43.860 --> 00:28:45.049 align:start position:0%
changes now Allison submits approved to
the<00:28:43.950><c> contract</c><00:28:44.340><c> that</c><00:28:44.400><c> she</c><00:28:44.460><c> locked</c><00:28:44.790><c> up</c><00:28:44.940><c> the</c>

00:28:45.049 --> 00:28:45.059 align:start position:0%
the contract that she locked up the
 

00:28:45.059 --> 00:28:46.760 align:start position:0%
the contract that she locked up the
coins<00:28:45.299><c> and</c><00:28:45.630><c> receives</c><00:28:45.900><c> bid</c><00:28:46.080><c> compact</c><00:28:46.410><c> optics</c>

00:28:46.760 --> 00:28:46.770 align:start position:0%
coins and receives bid compact optics
 

00:28:46.770 --> 00:28:48.470 align:start position:0%
coins and receives bid compact optics
and<00:28:46.980><c> she</c><00:28:47.490><c> can</c><00:28:47.640><c> use</c><00:28:47.730><c> these</c><00:28:47.940><c> tokens</c><00:28:48.390><c> to</c>

00:28:48.470 --> 00:28:48.480 align:start position:0%
and she can use these tokens to
 

00:28:48.480 --> 00:28:50.419 align:start position:0%
and she can use these tokens to
nominative<00:28:49.230><c> atomic</c><00:28:49.650><c> swaps</c><00:28:49.950><c> we</c><00:28:50.130><c> were</c><00:28:50.250><c> better</c>

00:28:50.419 --> 00:28:50.429 align:start position:0%
nominative atomic swaps we were better
 

00:28:50.429 --> 00:28:52.460 align:start position:0%
nominative atomic swaps we were better
guarantees<00:28:50.970><c> and</c><00:28:51.210><c> it</c><00:28:51.270><c> can</c><00:28:51.419><c> optimize</c><00:28:51.809><c> more</c><00:28:52.110><c> we</c>

00:28:52.460 --> 00:28:52.470 align:start position:0%
guarantees and it can optimize more we
 

00:28:52.470 --> 00:28:53.930 align:start position:0%
guarantees and it can optimize more we
sell<00:28:52.650><c> did</c><00:28:52.860><c> possibility</c><00:28:53.400><c> result</c><00:28:53.669><c> of</c><00:28:53.760><c> fair</c>

00:28:53.930 --> 00:28:53.940 align:start position:0%
sell did possibility result of fair
 

00:28:53.940 --> 00:28:55.909 align:start position:0%
sell did possibility result of fair
exchange<00:28:54.120><c> also</c><00:28:54.960><c> the</c><00:28:55.080><c> free</c><00:28:55.230><c> option</c><00:28:55.559><c> problem</c>

00:28:55.909 --> 00:28:55.919 align:start position:0%
exchange also the free option problem
 

00:28:55.919 --> 00:28:57.110 align:start position:0%
exchange also the free option problem
but<00:28:56.460><c> at</c><00:28:56.549><c> least</c><00:28:56.669><c> we're</c><00:28:56.850><c> not</c><00:28:56.880><c> have</c><00:28:57.030><c> to</c>

00:28:57.110 --> 00:28:57.120 align:start position:0%
but at least we're not have to
 

00:28:57.120 --> 00:28:58.640 align:start position:0%
but at least we're not have to
synchronize<00:28:57.570><c> clocks</c><00:28:57.900><c> and</c><00:28:58.230><c> everything</c><00:28:58.530><c> else</c>

00:28:58.640 --> 00:28:58.650 align:start position:0%
synchronize clocks and everything else
 

00:28:58.650 --> 00:29:01.220 align:start position:0%
synchronize clocks and everything else
across<00:28:58.980><c> two</c><00:28:59.220><c> chains</c><00:28:59.460><c> and</c><00:29:00.419><c> we</c><00:29:00.540><c> also</c><00:29:00.720><c> don't</c><00:29:01.080><c> have</c>

00:29:01.220 --> 00:29:01.230 align:start position:0%
across two chains and we also don't have
 

00:29:01.230 --> 00:29:02.990 align:start position:0%
across two chains and we also don't have
to<00:29:01.290><c> trust</c><00:29:01.650><c> that</c><00:29:01.799><c> at</c><00:29:02.250><c> this</c><00:29:02.400><c> point</c><00:29:02.669><c> in</c><00:29:02.850><c> time</c>

00:29:02.990 --> 00:29:03.000 align:start position:0%
to trust that at this point in time
 

00:29:03.000 --> 00:29:04.730 align:start position:0%
to trust that at this point in time
there<00:29:03.210><c> is</c><00:29:03.299><c> no</c><00:29:03.419><c> attack</c><00:29:03.690><c> of</c><00:29:03.870><c> it</c><00:29:03.990><c> which</c><00:29:04.350><c> prevents</c>

00:29:04.730 --> 00:29:04.740 align:start position:0%
there is no attack of it which prevents
 

00:29:04.740 --> 00:29:08.090 align:start position:0%
there is no attack of it which prevents
can<00:29:05.220><c> actually</c><00:29:05.549><c> be</c><00:29:05.640><c> included</c><00:29:06.049><c> so</c><00:29:07.049><c> do</c><00:29:07.590><c> you</c><00:29:07.980><c> do</c>

00:29:08.090 --> 00:29:08.100 align:start position:0%
can actually be included so do you do
 

00:29:08.100 --> 00:29:09.650 align:start position:0%
can actually be included so do you do
the<00:29:08.220><c> slow</c><00:29:08.580><c> set</c><00:29:08.880><c> that</c><00:29:09.059><c> they</c><00:29:09.120><c> cost</c><00:29:09.330><c> this</c><00:29:09.510><c> set</c>

00:29:09.650 --> 00:29:09.660 align:start position:0%
the slow set that they cost this set
 

00:29:09.660 --> 00:29:11.600 align:start position:0%
the slow set that they cost this set
that<00:29:09.809><c> phase</c><00:29:09.990><c> once</c><00:29:10.290><c> then</c><00:29:10.950><c> you</c><00:29:11.070><c> can</c><00:29:11.250><c> trade</c><00:29:11.520><c> these</c>

00:29:11.600 --> 00:29:11.610 align:start position:0%
that phase once then you can trade these
 

00:29:11.610 --> 00:29:13.240 align:start position:0%
that phase once then you can trade these
tokens<00:29:11.880><c> and</c><00:29:12.179><c> use</c><00:29:12.270><c> them</c><00:29:12.419><c> smart</c><00:29:12.720><c> contracts</c>

00:29:13.240 --> 00:29:13.250 align:start position:0%
tokens and use them smart contracts
 

00:29:13.250 --> 00:29:17.930 align:start position:0%
tokens and use them smart contracts
options<00:29:15.590><c> I'd</c><00:29:16.590><c> say</c><00:29:16.770><c> you</c><00:29:17.340><c> don't</c><00:29:17.460><c> have</c><00:29:17.640><c> that</c><00:29:17.760><c> much</c>

00:29:17.930 --> 00:29:17.940 align:start position:0%
options I'd say you don't have that much
 

00:29:17.940 --> 00:29:19.760 align:start position:0%
options I'd say you don't have that much
time<00:29:18.120><c> but</c><00:29:18.419><c> it's</c><00:29:18.690><c> it's</c><00:29:18.929><c> a</c><00:29:19.020><c> fairness</c><00:29:19.230><c> problem</c>

00:29:19.760 --> 00:29:19.770 align:start position:0%
time but it's it's a fairness problem
 

00:29:19.770 --> 00:29:22.010 align:start position:0%
time but it's it's a fairness problem
that<00:29:19.950><c> I</c><00:29:20.130><c> can</c><00:29:20.580><c> cancel</c><00:29:21.240><c> the</c><00:29:21.360><c> exchange</c><00:29:21.720><c> and</c>

00:29:22.010 --> 00:29:22.020 align:start position:0%
that I can cancel the exchange and
 

00:29:22.020 --> 00:29:23.659 align:start position:0%
that I can cancel the exchange and
basically<00:29:22.320><c> get</c><00:29:22.500><c> a</c><00:29:22.530><c> free</c><00:29:22.710><c> option</c><00:29:22.890><c> because</c><00:29:23.429><c> I</c>

00:29:23.659 --> 00:29:23.669 align:start position:0%
basically get a free option because I
 

00:29:23.669 --> 00:29:25.280 align:start position:0%
basically get a free option because I
know<00:29:23.880><c> what's</c><00:29:24.210><c> your</c><00:29:24.390><c> offer</c><00:29:24.480><c> is</c><00:29:24.780><c> but</c><00:29:25.140><c> if</c><00:29:25.230><c> you</c>

00:29:25.280 --> 00:29:25.290 align:start position:0%
know what's your offer is but if you
 

00:29:25.290 --> 00:29:27.620 align:start position:0%
know what's your offer is but if you
don't<00:29:25.350><c> know</c><00:29:25.530><c> about</c><00:29:25.650><c> my</c><00:29:26.100><c> Center</c><00:29:26.400><c> so</c><00:29:27.210><c> now</c><00:29:27.390><c> when</c><00:29:27.540><c> I</c>

00:29:27.620 --> 00:29:27.630 align:start position:0%
don't know about my Center so now when I
 

00:29:27.630 --> 00:29:29.690 align:start position:0%
don't know about my Center so now when I
want<00:29:27.780><c> to</c><00:29:27.900><c> go</c><00:29:28.020><c> back</c><00:29:28.200><c> I</c><00:29:28.500><c> burn</c><00:29:28.980><c> these</c><00:29:29.130><c> coins</c><00:29:29.520><c> and</c>

00:29:29.690 --> 00:29:29.700 align:start position:0%
want to go back I burn these coins and
 

00:29:29.700 --> 00:29:31.280 align:start position:0%
want to go back I burn these coins and
then<00:29:30.090><c> the</c><00:29:30.270><c> vault</c><00:29:30.450><c> has</c><00:29:30.660><c> to</c><00:29:30.809><c> release</c><00:29:31.080><c> these</c>

00:29:31.280 --> 00:29:31.290 align:start position:0%
then the vault has to release these
 

00:29:31.290 --> 00:29:32.780 align:start position:0%
then the vault has to release these
funds<00:29:31.500><c> to</c><00:29:31.679><c> me</c><00:29:31.770><c> otherwise</c><00:29:32.100><c> it</c><00:29:32.309><c> can</c><00:29:32.400><c> get</c><00:29:32.490><c> slashed</c>

00:29:32.780 --> 00:29:32.790 align:start position:0%
funds to me otherwise it can get slashed
 

00:29:32.790 --> 00:29:34.549 align:start position:0%
funds to me otherwise it can get slashed
and<00:29:33.030><c> to</c><00:29:33.299><c> get</c><00:29:33.450><c> the</c><00:29:33.600><c> collateral</c><00:29:34.080><c> back</c><00:29:34.200><c> in</c><00:29:34.410><c> some</c>

00:29:34.549 --> 00:29:34.559 align:start position:0%
and to get the collateral back in some
 

00:29:34.559 --> 00:29:36.350 align:start position:0%
and to get the collateral back in some
it's<00:29:34.710><c> proof</c><00:29:35.010><c> I'm</c><00:29:35.669><c> skipping</c><00:29:35.970><c> over</c><00:29:36.179><c> this</c>

00:29:36.350 --> 00:29:36.360 align:start position:0%
it's proof I'm skipping over this
 

00:29:36.360 --> 00:29:38.090 align:start position:0%
it's proof I'm skipping over this
because<00:29:36.480><c> running</c><00:29:36.809><c> out</c><00:29:36.960><c> of</c><00:29:36.990><c> time</c><00:29:37.200><c> but</c><00:29:37.860><c> there's</c>

00:29:38.090 --> 00:29:38.100 align:start position:0%
because running out of time but there's
 

00:29:38.100 --> 00:29:39.620 align:start position:0%
because running out of time but there's
a<00:29:38.160><c> whole</c><00:29:38.309><c> paper</c><00:29:38.520><c> describing</c><00:29:38.970><c> this</c><00:29:39.179><c> concept</c>

00:29:39.620 --> 00:29:39.630 align:start position:0%
a whole paper describing this concept
 

00:29:39.630 --> 00:29:43.730 align:start position:0%
a whole paper describing this concept
then<00:29:39.780><c> we</c><00:29:39.990><c> also</c><00:29:40.169><c> have</c><00:29:40.440><c> some</c><00:29:40.650><c> Coraline</c><00:29:41.100><c> yeah</c>

00:29:43.730 --> 00:29:43.740 align:start position:0%
then we also have some Coraline yeah
 

00:29:43.740 --> 00:29:45.950 align:start position:0%
then we also have some Coraline yeah
no<00:29:44.399><c> so</c><00:29:44.700><c> the</c><00:29:44.789><c> vault</c><00:29:45.029><c> so</c><00:29:45.240><c> this</c><00:29:45.570><c> thing</c><00:29:45.840><c> was</c>

00:29:45.950 --> 00:29:45.960 align:start position:0%
no so the vault so this thing was
 

00:29:45.960 --> 00:29:47.210 align:start position:0%
no so the vault so this thing was
constructed<00:29:46.470><c> in</c><00:29:46.559><c> a</c><00:29:46.620><c> way</c><00:29:46.740><c> that</c><00:29:46.860><c> you</c><00:29:46.980><c> do</c><00:29:47.100><c> not</c>

00:29:47.210 --> 00:29:47.220 align:start position:0%
constructed in a way that you do not
 

00:29:47.220 --> 00:29:48.799 align:start position:0%
constructed in a way that you do not
need<00:29:47.429><c> smart</c><00:29:47.700><c> contracts</c><00:29:48.120><c> only</c><00:29:48.210><c> in</c><00:29:48.360><c> one</c><00:29:48.570><c> chain</c>

00:29:48.799 --> 00:29:48.809 align:start position:0%
need smart contracts only in one chain
 

00:29:48.809 --> 00:29:50.480 align:start position:0%
need smart contracts only in one chain
evolved<00:29:49.350><c> to</c><00:29:49.470><c> be</c><00:29:49.590><c> a</c><00:29:49.620><c> smart</c><00:29:49.890><c> contract</c><00:29:50.309><c> or</c><00:29:50.460><c> a</c>

00:29:50.480 --> 00:29:50.490 align:start position:0%
evolved to be a smart contract or a
 

00:29:50.490 --> 00:29:52.130 align:start position:0%
evolved to be a smart contract or a
participant<00:29:51.090><c> it</c><00:29:51.299><c> could</c><00:29:51.390><c> be</c><00:29:51.480><c> a</c><00:29:51.510><c> human</c><00:29:51.809><c> on</c><00:29:52.020><c> the</c>

00:29:52.130 --> 00:29:52.140 align:start position:0%
participant it could be a human on the
 

00:29:52.140 --> 00:29:52.880 align:start position:0%
participant it could be a human on the
bitter<00:29:52.289><c> end</c><00:29:52.409><c> side</c>

00:29:52.880 --> 00:29:52.890 align:start position:0%
bitter end side
 

00:29:52.890 --> 00:29:54.380 align:start position:0%
bitter end side
we<00:29:53.070><c> just</c><00:29:53.279><c> need</c><00:29:53.460><c> smart</c><00:29:53.700><c> contracts</c><00:29:54.179><c> on</c><00:29:54.270><c> the</c>

00:29:54.380 --> 00:29:54.390 align:start position:0%
we just need smart contracts on the
 

00:29:54.390 --> 00:29:59.710 align:start position:0%
we just need smart contracts on the
decide<00:29:54.600><c> where</c><00:29:54.809><c> you</c><00:29:54.870><c> issue</c><00:29:55.020><c> the</c><00:29:55.200><c> topic</c><00:29:57.620><c> sorry</c>

00:29:59.710 --> 00:29:59.720 align:start position:0%
decide where you issue the topic sorry
 

00:29:59.720 --> 00:30:02.060 align:start position:0%
decide where you issue the topic sorry
it's<00:30:00.720><c> a</c><00:30:00.840><c> trusted</c><00:30:01.260><c> party</c><00:30:01.559><c> from</c><00:30:01.679><c> digital</c>

00:30:02.060 --> 00:30:02.070 align:start position:0%
it's a trusted party from digital
 

00:30:02.070 --> 00:30:04.190 align:start position:0%
it's a trusted party from digital
assistance<00:30:02.399><c> perspective</c><00:30:02.909><c> for</c><00:30:03.090><c> lightness</c><00:30:03.480><c> but</c>

00:30:04.190 --> 00:30:04.200 align:start position:0%
assistance perspective for lightness but
 

00:30:04.200 --> 00:30:05.960 align:start position:0%
assistance perspective for lightness but
from<00:30:04.409><c> financial</c><00:30:04.770><c> perspective</c><00:30:05.159><c> it's</c><00:30:05.610><c> it's</c>

00:30:05.960 --> 00:30:05.970 align:start position:0%
from financial perspective it's it's
 

00:30:05.970 --> 00:30:07.880 align:start position:0%
from financial perspective it's it's
insured<00:30:06.330><c> with</c><00:30:06.450><c> collateral</c><00:30:06.690><c> so</c><00:30:07.080><c> if</c><00:30:07.200><c> it</c><00:30:07.320><c> fails</c><00:30:07.590><c> I</c>

00:30:07.880 --> 00:30:07.890 align:start position:0%
insured with collateral so if it fails I
 

00:30:07.890 --> 00:30:09.799 align:start position:0%
insured with collateral so if it fails I
can<00:30:08.399><c> get</c><00:30:08.610><c> back</c><00:30:08.789><c> collateral</c><00:30:09.299><c> from</c><00:30:09.480><c> the</c><00:30:09.570><c> theory</c>

00:30:09.799 --> 00:30:09.809 align:start position:0%
can get back collateral from the theory
 

00:30:09.809 --> 00:30:12.889 align:start position:0%
can get back collateral from the theory
side<00:30:10.110><c> so</c><00:30:11.039><c> I</c><00:30:11.070><c> so</c><00:30:11.610><c> the</c><00:30:11.850><c> construction</c><00:30:12.270><c> is</c><00:30:12.570><c> if</c><00:30:12.779><c> the</c>

00:30:12.889 --> 00:30:12.899 align:start position:0%
side so I so the construction is if the
 

00:30:12.899 --> 00:30:14.870 align:start position:0%
side so I so the construction is if the
exchange<00:30:13.230><c> rates</c><00:30:13.470><c> don't</c><00:30:13.710><c> crash</c><00:30:14.039><c> completely</c><00:30:14.669><c> I</c>

00:30:14.870 --> 00:30:14.880 align:start position:0%
exchange rates don't crash completely I
 

00:30:14.880 --> 00:30:17.210 align:start position:0%
exchange rates don't crash completely I
is<00:30:15.600><c> a</c><00:30:15.779><c> participant</c><00:30:16.380><c> did</c><00:30:16.590><c> not</c><00:30:16.740><c> face</c><00:30:16.980><c> financial</c>

00:30:17.210 --> 00:30:17.220 align:start position:0%
is a participant did not face financial
 

00:30:17.220 --> 00:30:22.909 align:start position:0%
is a participant did not face financial
damage<00:30:21.230><c> that's</c><00:30:22.230><c> a</c><00:30:22.350><c> different</c><00:30:22.710><c> thing</c>

00:30:22.909 --> 00:30:22.919 align:start position:0%
damage that's a different thing
 

00:30:22.919 --> 00:30:25.159 align:start position:0%
damage that's a different thing
the<00:30:23.070><c> ball</c><00:30:23.220><c> can</c><00:30:23.429><c> go</c><00:30:23.490><c> flying</c><00:30:23.970><c> but</c><00:30:24.870><c> then</c><00:30:25.049><c> the</c>

00:30:25.159 --> 00:30:25.169 align:start position:0%
the ball can go flying but then the
 

00:30:25.169 --> 00:30:28.070 align:start position:0%
the ball can go flying but then the
contract<00:30:25.740><c> I</c><00:30:25.950><c> can</c><00:30:26.309><c> if</c><00:30:26.490><c> I'm</c><00:30:26.669><c> online</c><00:30:26.880><c> and</c><00:30:27.630><c> I</c><00:30:27.809><c> can</c>

00:30:28.070 --> 00:30:28.080 align:start position:0%
contract I can if I'm online and I can
 

00:30:28.080 --> 00:30:29.659 align:start position:0%
contract I can if I'm online and I can
go<00:30:28.200><c> to</c><00:30:28.260><c> the</c><00:30:28.440><c> concert</c><00:30:28.799><c> and</c><00:30:28.860><c> say</c><00:30:29.039><c> wait</c><00:30:29.250><c> a</c><00:30:29.279><c> second</c>

00:30:29.659 --> 00:30:29.669 align:start position:0%
go to the concert and say wait a second
 

00:30:29.669 --> 00:30:31.190 align:start position:0%
go to the concert and say wait a second
this<00:30:29.820><c> government</c><00:30:30.179><c> of</c><00:30:30.270><c> but</c><00:30:30.659><c> then</c><00:30:30.779><c> I</c><00:30:30.870><c> have</c><00:30:30.990><c> to</c><00:30:31.080><c> be</c>

00:30:31.190 --> 00:30:31.200 align:start position:0%
this government of but then I have to be
 

00:30:31.200 --> 00:30:33.740 align:start position:0%
this government of but then I have to be
online<00:30:31.320><c> to</c><00:30:31.529><c> accuse</c><00:30:32.429><c> him</c><00:30:32.610><c> right</c><00:30:32.940><c> I</c><00:30:33.210><c> have</c><00:30:33.570><c> to</c>

00:30:33.740 --> 00:30:33.750 align:start position:0%
online to accuse him right I have to
 

00:30:33.750 --> 00:30:35.289 align:start position:0%
online to accuse him right I have to
then<00:30:33.870><c> say</c><00:30:33.929><c> well</c><00:30:34.289><c> he</c><00:30:34.740><c> didn't</c><00:30:35.039><c> do</c><00:30:35.130><c> it</c>

00:30:35.289 --> 00:30:35.299 align:start position:0%
then say well he didn't do it
 

00:30:35.299 --> 00:30:38.389 align:start position:0%
then say well he didn't do it
or<00:30:36.299><c> in</c><00:30:36.480><c> our</c><00:30:36.630><c> case</c><00:30:36.750><c> actually</c><00:30:37.440><c> involved</c><00:30:38.250><c> is</c><00:30:38.370><c> not</c>

00:30:38.389 --> 00:30:38.399 align:start position:0%
or in our case actually involved is not
 

00:30:38.399 --> 00:30:39.889 align:start position:0%
or in our case actually involved is not
submit<00:30:38.820><c> to</c><00:30:38.850><c> prove</c><00:30:39.149><c> from</c><00:30:39.270><c> time</c><00:30:39.539><c> I'm</c>

00:30:39.889 --> 00:30:39.899 align:start position:0%
submit to prove from time I'm
 

00:30:39.899 --> 00:30:42.260 align:start position:0%
submit to prove from time I'm
automatically<00:30:40.559><c> reimbursed</c><00:30:41.039><c> but</c><00:30:41.820><c> if</c><00:30:42.090><c> you</c>

00:30:42.260 --> 00:30:42.270 align:start position:0%
automatically reimbursed but if you
 

00:30:42.270 --> 00:30:45.049 align:start position:0%
automatically reimbursed but if you
think<00:30:42.450><c> about</c><00:30:42.600><c> it</c><00:30:42.929><c> that</c><00:30:43.770><c> the</c><00:30:44.190><c> communication</c>

00:30:45.049 --> 00:30:45.059 align:start position:0%
think about it that the communication
 

00:30:45.059 --> 00:30:46.820 align:start position:0%
think about it that the communication
actually<00:30:45.240><c> failed</c><00:30:45.720><c> because</c><00:30:46.110><c> nothing</c><00:30:46.529><c> happened</c>

00:30:46.820 --> 00:30:46.830 align:start position:0%
actually failed because nothing happened
 

00:30:46.830 --> 00:30:48.529 align:start position:0%
actually failed because nothing happened
on<00:30:46.890><c> the</c><00:30:47.010><c> midwestside</c><00:30:47.309><c> right</c><00:30:47.820><c> I</c><00:30:48.090><c> didn't</c>

00:30:48.529 --> 00:30:48.539 align:start position:0%
on the midwestside right I didn't
 

00:30:48.539 --> 00:30:50.240 align:start position:0%
on the midwestside right I didn't
actually<00:30:48.690><c> trigger</c><00:30:49.649><c> a</c><00:30:49.679><c> process</c><00:30:49.860><c> in</c><00:30:50.190><c> the</c>

00:30:50.240 --> 00:30:50.250 align:start position:0%
actually trigger a process in the
 

00:30:50.250 --> 00:30:52.580 align:start position:0%
actually trigger a process in the
business<00:30:50.610><c> side</c><00:30:50.789><c> I</c><00:30:50.970><c> just</c><00:30:51.539><c> got</c><00:30:52.020><c> reimburse</c><00:30:52.380><c> on</c>

00:30:52.580 --> 00:30:52.590 align:start position:0%
business side I just got reimburse on
 

00:30:52.590 --> 00:30:54.440 align:start position:0%
business side I just got reimburse on
the<00:30:52.679><c> theory</c><00:30:52.919><c> of</c><00:30:53.010><c> site</c><00:30:53.279><c> so</c><00:30:54.029><c> cross</c><00:30:54.270><c> your</c>

00:30:54.440 --> 00:30:54.450 align:start position:0%
the theory of site so cross your
 

00:30:54.450 --> 00:30:56.360 align:start position:0%
the theory of site so cross your
communication<00:30:55.049><c> fail</c><00:30:55.289><c> but</c><00:30:55.559><c> I</c><00:30:55.590><c> still</c><00:30:55.950><c> because</c>

00:30:56.360 --> 00:30:56.370 align:start position:0%
communication fail but I still because
 

00:30:56.370 --> 00:30:57.710 align:start position:0%
communication fail but I still because
the<00:30:56.460><c> protocol</c><00:30:56.789><c> is</c><00:30:56.880><c> constructed</c><00:30:57.330><c> that</c><00:30:57.390><c> way</c><00:30:57.539><c> I</c>

00:30:57.710 --> 00:30:57.720 align:start position:0%
the protocol is constructed that way I
 

00:30:57.720 --> 00:30:59.779 align:start position:0%
the protocol is constructed that way I
got<00:30:57.899><c> a</c><00:30:57.929><c> reimbursement</c><00:30:58.409><c> on</c><00:30:58.830><c> the</c><00:30:59.070><c> one</c><00:30:59.520><c> chain</c>

00:30:59.779 --> 00:30:59.789 align:start position:0%
got a reimbursement on the one chain
 

00:30:59.789 --> 00:31:01.789 align:start position:0%
got a reimbursement on the one chain
that<00:30:59.970><c> I'm</c><00:31:00.090><c> off</c><00:31:00.380><c> so</c><00:31:01.380><c> there's</c><00:31:01.559><c> two</c><00:31:01.770><c> different</c>

00:31:01.789 --> 00:31:01.799 align:start position:0%
that I'm off so there's two different
 

00:31:01.799 --> 00:31:03.560 align:start position:0%
that I'm off so there's two different
aspects<00:31:02.460><c> is</c><00:31:02.730><c> you</c><00:31:02.789><c> have</c><00:31:02.880><c> to</c><00:31:02.970><c> be</c><00:31:03.059><c> careful</c><00:31:03.419><c> to</c>

00:31:03.560 --> 00:31:03.570 align:start position:0%
aspects is you have to be careful to
 

00:31:03.570 --> 00:31:08.950 align:start position:0%
aspects is you have to be careful to
separate<00:31:03.899><c> now</c><00:31:06.140><c> that's</c><00:31:07.140><c> a</c><00:31:07.230><c> most</c><00:31:07.380><c> effect</c><00:31:07.679><c> I'm</c>

00:31:08.950 --> 00:31:08.960 align:start position:0%
separate now that's a most effect I'm
 

00:31:08.960 --> 00:31:12.799 align:start position:0%
separate now that's a most effect I'm
gonna<00:31:09.960><c> give</c><00:31:10.470><c> you</c><00:31:10.559><c> a</c><00:31:10.590><c> brief</c><00:31:10.740><c> review</c><00:31:11.159><c> of</c><00:31:11.809><c> quite</c>

00:31:12.799 --> 00:31:12.809 align:start position:0%
gonna give you a brief review of quite
 

00:31:12.809 --> 00:31:17.530 align:start position:0%
gonna give you a brief review of quite
sharp<00:31:13.169><c> communications</c>

00:31:17.530 --> 00:31:17.540 align:start position:0%
 
 

00:31:17.540 --> 00:31:21.880 align:start position:0%
 
so<00:31:18.520><c> this</c><00:31:19.520><c> is</c><00:31:19.640><c> a</c><00:31:20.270><c> very</c><00:31:20.780><c> high</c><00:31:20.930><c> should</c><00:31:21.080><c> be</c><00:31:21.110><c> atomic</c>

00:31:21.880 --> 00:31:21.890 align:start position:0%
so this is a very high should be atomic
 

00:31:21.890 --> 00:31:24.210 align:start position:0%
so this is a very high should be atomic
transaction<00:31:22.490><c> procurement</c><00:31:22.970><c> so</c><00:31:23.360><c> what</c><00:31:23.480><c> is</c><00:31:23.570><c> the</c>

00:31:24.210 --> 00:31:24.220 align:start position:0%
transaction procurement so what is the
 

00:31:24.220 --> 00:31:26.560 align:start position:0%
transaction procurement so what is the
atomic<00:31:25.220><c> transaction</c><00:31:25.790><c> brother</c><00:31:25.970><c> is</c><00:31:26.210><c> also</c><00:31:26.450><c> the</c>

00:31:26.560 --> 00:31:26.570 align:start position:0%
atomic transaction brother is also the
 

00:31:26.570 --> 00:31:28.000 align:start position:0%
atomic transaction brother is also the
can<00:31:26.690><c> also</c><00:31:26.810><c> be</c><00:31:27.020><c> called</c><00:31:27.200><c> the</c><00:31:27.260><c> training</c><00:31:27.680><c> result</c>

00:31:28.000 --> 00:31:28.010 align:start position:0%
can also be called the training result
 

00:31:28.010 --> 00:31:32.860 align:start position:0%
can also be called the training result
program<00:31:28.360><c> this</c><00:31:29.360><c> suppose</c><00:31:30.160><c> Alice</c><00:31:31.600><c> wants</c><00:31:32.600><c> to</c><00:31:32.630><c> book</c>

00:31:32.860 --> 00:31:32.870 align:start position:0%
program this suppose Alice wants to book
 

00:31:32.870 --> 00:31:36.220 align:start position:0%
program this suppose Alice wants to book
a<00:31:33.490><c> track</c><00:31:34.490><c> a</c><00:31:34.520><c> treatment</c><00:31:34.970><c> and</c><00:31:35.330><c> she</c><00:31:35.930><c> needs</c><00:31:36.140><c> a</c>

00:31:36.220 --> 00:31:36.230 align:start position:0%
a track a treatment and she needs a
 

00:31:36.230 --> 00:31:39.670 align:start position:0%
a track a treatment and she needs a
hotel<00:31:36.590><c> room</c><00:31:36.710><c> and</c><00:31:37.460><c> the</c><00:31:37.730><c> train</c><00:31:37.970><c> seat</c><00:31:38.440><c> to</c><00:31:39.440><c> get</c><00:31:39.590><c> to</c>

00:31:39.670 --> 00:31:39.680 align:start position:0%
hotel room and the train seat to get to
 

00:31:39.680 --> 00:31:40.410 align:start position:0%
hotel room and the train seat to get to
the<00:31:39.770><c> hotel</c>

00:31:40.410 --> 00:31:40.420 align:start position:0%
the hotel
 

00:31:40.420 --> 00:31:42.910 align:start position:0%
the hotel
unless<00:31:41.420><c> suppose</c><00:31:41.690><c> that</c><00:31:41.990><c> there's</c><00:31:42.500><c> a</c><00:31:42.560><c> travel</c>

00:31:42.910 --> 00:31:42.920 align:start position:0%
unless suppose that there's a travel
 

00:31:42.920 --> 00:31:46.060 align:start position:0%
unless suppose that there's a travel
agent<00:31:43.280><c> contract</c><00:31:43.730><c> or</c><00:31:44.180><c> the</c><00:31:44.240><c> chain</c><00:31:44.770><c> and</c><00:31:45.770><c> what</c>

00:31:46.060 --> 00:31:46.070 align:start position:0%
agent contract or the chain and what
 

00:31:46.070 --> 00:31:48.520 align:start position:0%
agent contract or the chain and what
that<00:31:46.220><c> contract</c><00:31:46.490><c> basically</c><00:31:46.940><c> does</c><00:31:47.240><c> he</c><00:31:48.140><c> booked</c>

00:31:48.520 --> 00:31:48.530 align:start position:0%
that contract basically does he booked
 

00:31:48.530 --> 00:31:51.280 align:start position:0%
that contract basically does he booked
it<00:31:48.740><c> books</c><00:31:49.070><c> on</c><00:31:49.250><c> hotel</c><00:31:49.580><c> room</c><00:31:49.790><c> and</c><00:31:50.660><c> a</c><00:31:50.810><c> train</c><00:31:51.050><c> seat</c>

00:31:51.280 --> 00:31:51.290 align:start position:0%
it books on hotel room and a train seat
 

00:31:51.290 --> 00:31:53.890 align:start position:0%
it books on hotel room and a train seat
at<00:31:51.830><c> the</c><00:31:51.920><c> same</c><00:31:52.100><c> time</c><00:31:52.340><c> just</c><00:31:52.790><c> like</c><00:31:53.420><c> when</c><00:31:53.750><c> you</c><00:31:53.810><c> go</c>

00:31:53.890 --> 00:31:53.900 align:start position:0%
at the same time just like when you go
 

00:31:53.900 --> 00:31:56.050 align:start position:0%
at the same time just like when you go
to<00:31:53.960><c> Expedia</c><00:31:54.560><c> you</c><00:31:54.650><c> can</c><00:31:54.830><c> book</c><00:31:55.370><c> a</c><00:31:55.460><c> package</c><00:31:55.850><c> with</c>

00:31:56.050 --> 00:31:56.060 align:start position:0%
to Expedia you can book a package with
 

00:31:56.060 --> 00:31:57.340 align:start position:0%
to Expedia you can book a package with
your<00:31:56.090><c> flights</c><00:31:56.480><c> that</c><00:31:56.600><c> they</c><00:31:56.750><c> tell</c><00:31:56.930><c> other</c><00:31:57.140><c> same</c>

00:31:57.340 --> 00:31:57.350 align:start position:0%
your flights that they tell other same
 

00:31:57.350 --> 00:32:01.810 align:start position:0%
your flights that they tell other same
plan<00:31:58.300><c> now</c><00:31:59.300><c> let's</c><00:31:59.570><c> suppose</c><00:32:00.010><c> that</c><00:32:01.010><c> the</c><00:32:01.370><c> hotel</c>

00:32:01.810 --> 00:32:01.820 align:start position:0%
plan now let's suppose that the hotel
 

00:32:01.820 --> 00:32:05.980 align:start position:0%
plan now let's suppose that the hotel
room<00:32:02.620><c> object</c><00:32:03.620><c> or</c><00:32:04.070><c> contract</c><00:32:04.670><c> is</c><00:32:05.360><c> insured</c><00:32:05.750><c> one</c>

00:32:05.980 --> 00:32:05.990 align:start position:0%
room object or contract is insured one
 

00:32:05.990 --> 00:32:09.670 align:start position:0%
room object or contract is insured one
and<00:32:06.800><c> the</c><00:32:06.980><c> train</c><00:32:07.220><c> seat</c><00:32:07.520><c> is</c><00:32:07.940><c> in</c><00:32:08.150><c> short</c><00:32:08.330><c> tube</c><00:32:08.680><c> so</c>

00:32:09.670 --> 00:32:09.680 align:start position:0%
and the train seat is in short tube so
 

00:32:09.680 --> 00:32:12.040 align:start position:0%
and the train seat is in short tube so
that<00:32:09.710><c> means</c><00:32:10.070><c> the</c><00:32:10.790><c> travel</c><00:32:11.090><c> agent</c><00:32:11.450><c> contract</c>

00:32:12.040 --> 00:32:12.050 align:start position:0%
that means the travel agent contract
 

00:32:12.050 --> 00:32:14.110 align:start position:0%
that means the travel agent contract
will<00:32:12.800><c> have</c><00:32:12.950><c> to</c><00:32:13.070><c> communicate</c><00:32:13.340><c> with</c><00:32:13.850><c> birth</c>

00:32:14.110 --> 00:32:14.120 align:start position:0%
will have to communicate with birth
 

00:32:14.120 --> 00:32:18.490 align:start position:0%
will have to communicate with birth
chart<00:32:14.590><c> to</c><00:32:15.610><c> execute</c><00:32:16.610><c> this</c><00:32:16.940><c> transaction</c><00:32:17.500><c> where</c>

00:32:18.490 --> 00:32:18.500 align:start position:0%
chart to execute this transaction where
 

00:32:18.500 --> 00:32:22.180 align:start position:0%
chart to execute this transaction where
others<00:32:18.800><c> wants</c><00:32:19.340><c> to</c><00:32:19.520><c> book</c><00:32:20.120><c> a</c><00:32:20.390><c> hotel</c><00:32:20.980><c> room</c><00:32:21.980><c> and</c><00:32:22.130><c> a</c>

00:32:22.180 --> 00:32:22.190 align:start position:0%
others wants to book a hotel room and a
 

00:32:22.190 --> 00:32:26.740 align:start position:0%
others wants to book a hotel room and a
fancy<00:32:22.460><c> at</c><00:32:22.760><c> the</c><00:32:22.850><c> same</c><00:32:23.030><c> time</c><00:32:23.770><c> okay</c><00:32:25.420><c> but</c><00:32:26.420><c> the</c><00:32:26.540><c> key</c>

00:32:26.740 --> 00:32:26.750 align:start position:0%
fancy at the same time okay but the key
 

00:32:26.750 --> 00:32:30.100 align:start position:0%
fancy at the same time okay but the key
thing<00:32:27.020><c> here</c><00:32:27.230><c> is</c><00:32:27.800><c> that</c><00:32:28.160><c> Alice</c><00:32:28.970><c> wants</c><00:32:29.810><c> to</c><00:32:29.930><c> put</c>

00:32:30.100 --> 00:32:30.110 align:start position:0%
thing here is that Alice wants to put
 

00:32:30.110 --> 00:32:32.740 align:start position:0%
thing here is that Alice wants to put
first<00:32:30.590><c> in</c><00:32:30.800><c> her</c><00:32:30.950><c> stroller</c><00:32:31.130><c> and</c><00:32:31.490><c> transit</c><00:32:31.940><c> we</c>

00:32:32.740 --> 00:32:32.750 align:start position:0%
first in her stroller and transit we
 

00:32:32.750 --> 00:32:33.910 align:start position:0%
first in her stroller and transit we
don't<00:32:32.930><c> want</c><00:32:33.140><c> to</c><00:32:33.230><c> end</c><00:32:33.410><c> up</c><00:32:33.560><c> in</c><00:32:33.680><c> a</c><00:32:33.770><c> situation</c>

00:32:33.910 --> 00:32:33.920 align:start position:0%
don't want to end up in a situation
 

00:32:33.920 --> 00:32:37.060 align:start position:0%
don't want to end up in a situation
where<00:32:34.480><c> one</c><00:32:35.480><c> of</c><00:32:35.510><c> those</c><00:32:35.780><c> transactions</c><00:32:36.710><c> payable</c>

00:32:37.060 --> 00:32:37.070 align:start position:0%
where one of those transactions payable
 

00:32:37.070 --> 00:32:40.150 align:start position:0%
where one of those transactions payable
because<00:32:37.880><c> if</c><00:32:38.390><c> the</c><00:32:39.230><c> Train</c><00:32:39.470><c> see</c><00:32:39.650><c> transaction</c>

00:32:40.150 --> 00:32:40.160 align:start position:0%
because if the Train see transaction
 

00:32:40.160 --> 00:32:42.760 align:start position:0%
because if the Train see transaction
fails<00:32:40.570><c> then</c><00:32:41.570><c> at</c><00:32:41.720><c> least</c><00:32:41.840><c> has</c><00:32:42.020><c> a</c><00:32:42.080><c> hotel</c><00:32:42.410><c> room</c><00:32:42.590><c> but</c>

00:32:42.760 --> 00:32:42.770 align:start position:0%
fails then at least has a hotel room but
 

00:32:42.770 --> 00:32:45.040 align:start position:0%
fails then at least has a hotel room but
nowhere<00:32:43.130><c> that</c><00:32:43.190><c> gets</c><00:32:43.400><c> written</c><00:32:43.630><c> or</c><00:32:44.630><c> if</c><00:32:44.960><c> the</c>

00:32:45.040 --> 00:32:45.050 align:start position:0%
nowhere that gets written or if the
 

00:32:45.050 --> 00:32:47.680 align:start position:0%
nowhere that gets written or if the
hotel<00:32:45.380><c> fails</c><00:32:45.680><c> in</c><00:32:46.070><c> the</c><00:32:46.220><c> Trinity</c><00:32:46.970><c> but</c><00:32:47.210><c> nervous</c>

00:32:47.680 --> 00:32:47.690 align:start position:0%
hotel fails in the Trinity but nervous
 

00:32:47.690 --> 00:32:51.550 align:start position:0%
hotel fails in the Trinity but nervous
state<00:32:49.510><c> now</c><00:32:50.570><c> so</c><00:32:50.990><c> this</c><00:32:51.140><c> opposed</c><00:32:51.410><c> each</c>

00:32:51.550 --> 00:32:51.560 align:start position:0%
state now so this opposed each
 

00:32:51.560 --> 00:32:52.900 align:start position:0%
state now so this opposed each
transaction<00:32:51.860><c> happen</c><00:32:52.310><c> this</c><00:32:52.430><c> is</c><00:32:52.490><c> trick</c><00:32:52.760><c> she</c>

00:32:52.900 --> 00:32:52.910 align:start position:0%
transaction happen this is trick she
 

00:32:52.910 --> 00:32:55.210 align:start position:0%
transaction happen this is trick she
tries<00:32:53.150><c> to</c><00:32:53.300><c> make</c><00:32:53.420><c> this</c><00:32:53.510><c> transaction</c><00:32:54.070><c> but</c><00:32:55.070><c> this</c>

00:32:55.210 --> 00:32:55.220 align:start position:0%
tries to make this transaction but this
 

00:32:55.220 --> 00:32:58.140 align:start position:0%
tries to make this transaction but this
person<00:32:55.490><c> lost</c><00:32:55.970><c> second</c><00:32:56.420><c> boat</c><00:32:57.080><c> comes</c><00:32:57.380><c> along</c><00:32:57.620><c> and</c>

00:32:58.140 --> 00:32:58.150 align:start position:0%
person lost second boat comes along and
 

00:32:58.150 --> 00:33:01.360 align:start position:0%
person lost second boat comes along and
tries<00:32:59.150><c> to</c><00:32:59.180><c> book</c><00:32:59.480><c> the</c><00:32:59.600><c> same</c><00:32:59.810><c> and</c><00:33:00.380><c> celebrate</c><00:33:00.830><c> one</c>

00:33:01.360 --> 00:33:01.370 align:start position:0%
tries to book the same and celebrate one
 

00:33:01.370 --> 00:33:03.880 align:start position:0%
tries to book the same and celebrate one
second<00:33:01.700><c> earlier</c><00:33:02.110><c> right</c><00:33:03.110><c> but</c><00:33:03.440><c> Alice</c><00:33:03.710><c> has</c>

00:33:03.880 --> 00:33:03.890 align:start position:0%
second earlier right but Alice has
 

00:33:03.890 --> 00:33:05.260 align:start position:0%
second earlier right but Alice has
already<00:33:04.010><c> submitted</c><00:33:04.280><c> this</c><00:33:04.610><c> transaction</c><00:33:04.970><c> also</c>

00:33:05.260 --> 00:33:05.270 align:start position:0%
already submitted this transaction also
 

00:33:05.270 --> 00:33:07.019 align:start position:0%
already submitted this transaction also
missing<00:33:05.660><c> one</c><00:33:06.110><c> second</c>

00:33:07.019 --> 00:33:07.029 align:start position:0%
missing one second
 

00:33:07.029 --> 00:33:10.240 align:start position:0%
missing one second
can<00:33:08.029><c> end</c><00:33:08.269><c> up</c><00:33:08.360><c> the</c><00:33:08.480><c> situation</c><00:33:09.049><c> where</c><00:33:09.710><c> Bob</c><00:33:09.950><c> ends</c>

00:33:10.240 --> 00:33:10.250 align:start position:0%
can end up the situation where Bob ends
 

00:33:10.250 --> 00:33:13.450 align:start position:0%
can end up the situation where Bob ends
up<00:33:10.340><c> at</c><00:33:10.460><c> the</c><00:33:10.519><c> hotel</c><00:33:10.820><c> room</c><00:33:11.000><c> and</c><00:33:12.220><c> analyst</c><00:33:13.220><c> has</c><00:33:13.429><c> a</c>

00:33:13.450 --> 00:33:13.460 align:start position:0%
up at the hotel room and analyst has a
 

00:33:13.460 --> 00:33:15.159 align:start position:0%
up at the hotel room and analyst has a
train<00:33:13.700><c> seat</c><00:33:13.940><c> but</c><00:33:14.299><c> she</c><00:33:14.389><c> has</c><00:33:14.539><c> failed</c><00:33:14.779><c> to</c><00:33:14.899><c> put</c><00:33:15.080><c> the</c>

00:33:15.159 --> 00:33:15.169 align:start position:0%
train seat but she has failed to put the
 

00:33:15.169 --> 00:33:18.159 align:start position:0%
train seat but she has failed to put the
head<00:33:15.289><c> celebrate</c><00:33:16.330><c> so</c><00:33:17.330><c> that</c><00:33:17.480><c> transaction</c><00:33:17.990><c> say</c>

00:33:18.159 --> 00:33:18.169 align:start position:0%
head celebrate so that transaction say
 

00:33:18.169 --> 00:33:22.029 align:start position:0%
head celebrate so that transaction say
the<00:33:18.919><c> transaction</c><00:33:19.460><c> was</c><00:33:19.549><c> an</c><00:33:19.700><c> atomic</c><00:33:20.110><c> okay</c><00:33:21.110><c> now</c>

00:33:22.029 --> 00:33:22.039 align:start position:0%
the transaction was an atomic okay now
 

00:33:22.039 --> 00:33:24.279 align:start position:0%
the transaction was an atomic okay now
the<00:33:22.340><c> goal</c><00:33:22.580><c> of</c><00:33:22.789><c> a</c><00:33:23.000><c> short</c><00:33:23.269><c> communication</c><00:33:23.929><c> is</c><00:33:24.139><c> to</c>

00:33:24.279 --> 00:33:24.289 align:start position:0%
the goal of a short communication is to
 

00:33:24.289 --> 00:33:27.009 align:start position:0%
the goal of a short communication is to
have<00:33:24.409><c> atomic</c><00:33:24.799><c> transactions</c><00:33:25.370><c> so</c><00:33:26.179><c> that</c><00:33:26.210><c> it</c>

00:33:27.009 --> 00:33:27.019 align:start position:0%
have atomic transactions so that it
 

00:33:27.019 --> 00:33:28.930 align:start position:0%
have atomic transactions so that it
should<00:33:27.289><c> be</c><00:33:27.500><c> that</c><00:33:27.710><c> either</c><00:33:27.950><c> Alice</c><00:33:28.519><c> gets</c><00:33:28.789><c> the</c>

00:33:28.930 --> 00:33:28.940 align:start position:0%
should be that either Alice gets the
 

00:33:28.940 --> 00:33:30.940 align:start position:0%
should be that either Alice gets the
birthday<00:33:29.299><c> metal</c><00:33:29.600><c> roof</c><00:33:29.809><c> of</c><00:33:29.960><c> the</c><00:33:30.019><c> train</c><00:33:30.259><c> seat</c><00:33:30.500><c> or</c>

00:33:30.940 --> 00:33:30.950 align:start position:0%
birthday metal roof of the train seat or
 

00:33:30.950 --> 00:33:32.919 align:start position:0%
birthday metal roof of the train seat or
nothing<00:33:31.340><c> it's</c><00:33:32.000><c> all</c><00:33:32.240><c> the</c><00:33:32.360><c> mouthing</c><00:33:32.539><c> we</c><00:33:32.779><c> don't</c>

00:33:32.919 --> 00:33:32.929 align:start position:0%
nothing it's all the mouthing we don't
 

00:33:32.929 --> 00:33:34.180 align:start position:0%
nothing it's all the mouthing we don't
want<00:33:33.110><c> to</c><00:33:33.200><c> out</c><00:33:33.379><c> we</c><00:33:33.649><c> don't</c><00:33:33.799><c> want</c><00:33:33.950><c> a</c><00:33:34.009><c> half</c>

00:33:34.180 --> 00:33:34.190 align:start position:0%
want to out we don't want a half
 

00:33:34.190 --> 00:33:38.409 align:start position:0%
want to out we don't want a half
complete<00:33:34.580><c> transaction</c><00:33:36.669><c> so</c><00:33:37.669><c> there's</c><00:33:38.059><c> there's</c>

00:33:38.409 --> 00:33:38.419 align:start position:0%
complete transaction so there's there's
 

00:33:38.419 --> 00:33:39.999 align:start position:0%
complete transaction so there's there's
two<00:33:38.480><c> kind</c><00:33:38.779><c> of</c><00:33:38.870><c> broad</c><00:33:39.049><c> categories</c><00:33:39.529><c> of</c><00:33:39.559><c> doing</c>

00:33:39.999 --> 00:33:40.009 align:start position:0%
two kind of broad categories of doing
 

00:33:40.009 --> 00:33:43.049 align:start position:0%
two kind of broad categories of doing
flash-flood<00:33:40.399><c> communication</c><00:33:41.259><c> the</c><00:33:42.259><c> first</c><00:33:42.500><c> one</c>

00:33:43.049 --> 00:33:43.059 align:start position:0%
flash-flood communication the first one
 

00:33:43.059 --> 00:33:49.299 align:start position:0%
flash-flood communication the first one
is<00:33:44.059><c> basically</c><00:33:45.909><c> we</c><00:33:46.909><c> tax</c><00:33:47.120><c> based</c><00:33:48.309><c> returning</c>

00:33:49.299 --> 00:33:49.309 align:start position:0%
is basically we tax based returning
 

00:33:49.309 --> 00:33:51.340 align:start position:0%
is basically we tax based returning
family<00:33:49.669><c> plot</c><00:33:49.879><c> first</c><00:33:50.419><c> focus</c><00:33:50.690><c> on</c><00:33:50.779><c> services</c><00:33:51.200><c> as</c>

00:33:51.340 --> 00:33:51.350 align:start position:0%
family plot first focus on services as
 

00:33:51.350 --> 00:33:53.259 align:start position:0%
family plot first focus on services as
she<00:33:51.559><c> called</c><00:33:51.799><c> it</c><00:33:51.889><c> for</c><00:33:52.190><c> short</c><00:33:52.429><c> acting</c><00:33:52.759><c> but</c><00:33:53.149><c> it's</c>

00:33:53.259 --> 00:33:53.269 align:start position:0%
she called it for short acting but it's
 

00:33:53.269 --> 00:33:54.850 align:start position:0%
she called it for short acting but it's
actually<00:33:53.539><c> basically</c><00:33:53.720><c> Texas</c><00:33:54.379><c> which</c><00:33:54.679><c> was</c>

00:33:54.850 --> 00:33:54.860 align:start position:0%
actually basically Texas which was
 

00:33:54.860 --> 00:33:58.539 align:start position:0%
actually basically Texas which was
invented<00:33:55.669><c> the</c><00:33:55.909><c> seventies</c><00:33:56.269><c> and</c><00:33:56.799><c> the</c><00:33:57.799><c> idea</c><00:33:58.340><c> is</c>

00:33:58.539 --> 00:33:58.549 align:start position:0%
invented the seventies and the idea is
 

00:33:58.549 --> 00:34:06.490 align:start position:0%
invented the seventies and the idea is
very<00:33:58.759><c> simple</c><00:34:02.019><c> so</c><00:34:04.809><c> basically</c><00:34:05.809><c> what</c><00:34:05.960><c> we</c><00:34:06.049><c> do</c><00:34:06.200><c> is</c>

00:34:06.490 --> 00:34:06.500 align:start position:0%
very simple so basically what we do is
 

00:34:06.500 --> 00:34:10.300 align:start position:0%
very simple so basically what we do is
you<00:34:07.419><c> issued</c><00:34:08.419><c> a</c><00:34:08.659><c> Yank</c><00:34:09.200><c> command</c><00:34:09.679><c> for</c><00:34:10.220><c> the</c>

00:34:10.300 --> 00:34:10.310 align:start position:0%
you issued a Yank command for the
 

00:34:10.310 --> 00:34:12.430 align:start position:0%
you issued a Yank command for the
interpreter<00:34:10.730><c> household</c><00:34:11.149><c> room</c><00:34:11.329><c> and</c><00:34:12.200><c> what</c><00:34:12.319><c> that</c>

00:34:12.430 --> 00:34:12.440 align:start position:0%
interpreter household room and what that
 

00:34:12.440 --> 00:34:15.159 align:start position:0%
interpreter household room and what that
does<00:34:12.589><c> is</c><00:34:13.190><c> it</c><00:34:13.790><c> removes</c><00:34:14.060><c> that</c><00:34:14.240><c> hotel</c><00:34:14.720><c> room</c><00:34:14.929><c> from</c>

00:34:15.159 --> 00:34:15.169 align:start position:0%
does is it removes that hotel room from
 

00:34:15.169 --> 00:34:18.339 align:start position:0%
does is it removes that hotel room from
that<00:34:15.290><c> shot</c><00:34:15.530><c> and</c><00:34:16.339><c> that</c><00:34:16.639><c> shot</c><00:34:17.169><c> generates</c><00:34:18.169><c> a</c>

00:34:18.339 --> 00:34:18.349 align:start position:0%
that shot and that shot generates a
 

00:34:18.349 --> 00:34:21.550 align:start position:0%
that shot and that shot generates a
receipt<00:34:18.710><c> that</c><00:34:19.389><c> this</c><00:34:20.389><c> has</c><00:34:20.690><c> happened</c><00:34:20.899><c> that</c><00:34:21.470><c> the</c>

00:34:21.550 --> 00:34:21.560 align:start position:0%
receipt that this has happened that the
 

00:34:21.560 --> 00:34:23.800 align:start position:0%
receipt that this has happened that the
hotel<00:34:21.919><c> room</c><00:34:22.159><c> has</c><00:34:22.970><c> been</c><00:34:23.119><c> removed</c><00:34:23.510><c> from</c><00:34:23.659><c> the</c>

00:34:23.800 --> 00:34:23.810 align:start position:0%
hotel room has been removed from the
 

00:34:23.810 --> 00:34:27.819 align:start position:0%
hotel room has been removed from the
shot<00:34:24.129><c> and</c><00:34:25.129><c> that</c><00:34:25.460><c> was</c><00:34:25.520><c> it</c><00:34:25.849><c> simply</c><00:34:26.329><c> a</c><00:34:26.720><c> message</c><00:34:27.679><c> in</c>

00:34:27.819 --> 00:34:27.829 align:start position:0%
shot and that was it simply a message in
 

00:34:27.829 --> 00:34:30.339 align:start position:0%
shot and that was it simply a message in
the<00:34:27.950><c> block</c><00:34:28.159><c> and</c><00:34:28.460><c> the</c><00:34:29.030><c> receipt</c><00:34:29.300><c> itself</c><00:34:29.690><c> is</c>

00:34:30.339 --> 00:34:30.349 align:start position:0%
the block and the receipt itself is
 

00:34:30.349 --> 00:34:32.859 align:start position:0%
the block and the receipt itself is
basically<00:34:30.730><c> can</c><00:34:31.730><c> be</c><00:34:31.849><c> proven</c><00:34:32.149><c> using</c><00:34:32.450><c> a</c><00:34:32.540><c> relative</c>

00:34:32.859 --> 00:34:32.869 align:start position:0%
basically can be proven using a relative
 

00:34:32.869 --> 00:34:35.950 align:start position:0%
basically can be proven using a relative
proof<00:34:33.429><c> and</c><00:34:34.429><c> then</c><00:34:34.550><c> what</c><00:34:34.760><c> else</c><00:34:34.909><c> does</c><00:34:35.210><c> is</c><00:34:35.510><c> sends</c>

00:34:35.950 --> 00:34:35.960 align:start position:0%
proof and then what else does is sends
 

00:34:35.960 --> 00:34:42.220 align:start position:0%
proof and then what else does is sends
that<00:34:36.079><c> receipts</c><00:34:37.240><c> and</c><00:34:39.639><c> that</c><00:34:40.839><c> child</c><00:34:41.839><c> to</c><00:34:41.960><c> reach</c>

00:34:42.220 --> 00:34:42.230 align:start position:0%
that receipts and that child to reach
 

00:34:42.230 --> 00:34:44.619 align:start position:0%
that receipts and that child to reach
this<00:34:42.409><c> receipt</c><00:34:42.740><c> and</c><00:34:42.950><c> we</c><00:34:43.429><c> creates</c><00:34:43.909><c> this</c><00:34:44.210><c> hotel</c>

00:34:44.619 --> 00:34:44.629 align:start position:0%
this receipt and we creates this hotel
 

00:34:44.629 --> 00:34:49.030 align:start position:0%
this receipt and we creates this hotel
room<00:34:44.810><c> in</c><00:34:45.079><c> that</c><00:34:45.409><c> shot</c><00:34:45.649><c> so</c><00:34:47.109><c> until</c><00:34:48.109><c> now</c><00:34:48.260><c> the</c><00:34:48.470><c> hotel</c>

00:34:49.030 --> 00:34:49.040 align:start position:0%
room in that shot so until now the hotel
 

00:34:49.040 --> 00:34:50.800 align:start position:0%
room in that shot so until now the hotel
room<00:34:49.250><c> and</c><00:34:49.429><c> the</c><00:34:49.520><c> train</c><00:34:49.730><c> seats</c><00:34:49.970><c> are</c><00:34:50.300><c> now</c><00:34:50.569><c> in</c><00:34:50.720><c> the</c>

00:34:50.800 --> 00:34:50.810 align:start position:0%
room and the train seats are now in the
 

00:34:50.810 --> 00:34:53.349 align:start position:0%
room and the train seats are now in the
same<00:34:50.990><c> shot</c><00:34:51.230><c> and</c><00:34:51.710><c> so</c><00:34:52.010><c> now</c><00:34:52.190><c> there's</c><00:34:52.520><c> no</c><00:34:52.700><c> no</c>

00:34:53.349 --> 00:34:53.359 align:start position:0%
same shot and so now there's no no
 

00:34:53.359 --> 00:34:56.520 align:start position:0%
same shot and so now there's no no
classified<00:34:53.869><c> communications</c><00:34:54.440><c> be</c><00:34:54.619><c> even</c><00:34:54.889><c> needed</c>

00:34:56.520 --> 00:34:56.530 align:start position:0%
classified communications be even needed
 

00:34:56.530 --> 00:34:57.930 align:start position:0%
classified communications be even needed
which<00:34:56.860><c> was</c><00:34:57.040><c> actually</c><00:34:57.190><c> going</c><00:34:57.430><c> to</c><00:34:57.490><c> happen</c><00:34:57.610><c> in</c>

00:34:57.930 --> 00:34:57.940 align:start position:0%
which was actually going to happen in
 

00:34:57.940 --> 00:35:07.650 align:start position:0%
which was actually going to happen in
the<00:34:58.000><c> same</c><00:34:58.150><c> car</c><00:34:59.850><c> so</c><00:35:00.850><c> no</c><00:35:04.050><c> so</c><00:35:06.120><c> yeah</c><00:35:07.120><c> so</c><00:35:07.360><c> I</c><00:35:07.390><c> just</c>

00:35:07.650 --> 00:35:07.660 align:start position:0%
the same car so no so yeah so I just
 

00:35:07.660 --> 00:35:09.980 align:start position:0%
the same car so no so yeah so I just
described<00:35:08.200><c> was</c><00:35:08.500><c> a</c><00:35:08.530><c> fire</c><00:35:08.860><c> and</c><00:35:09.070><c> forget</c><00:35:09.280><c> protocol</c>

00:35:09.980 --> 00:35:09.990 align:start position:0%
described was a fire and forget protocol
 

00:35:09.990 --> 00:35:13.170 align:start position:0%
described was a fire and forget protocol
so<00:35:10.990><c> this</c><00:35:11.200><c> was</c><00:35:11.410><c> a</c><00:35:11.970><c> here</c>

00:35:13.170 --> 00:35:13.180 align:start position:0%
so this was a here
 

00:35:13.180 --> 00:35:15.540 align:start position:0%
so this was a here
it's<00:35:13.390><c> a</c><00:35:13.480><c> fire</c><00:35:13.690><c> on</c><00:35:13.840><c> forget</c><00:35:14.050><c> protocol</c><00:35:14.550><c> there's</c>

00:35:15.540 --> 00:35:15.550 align:start position:0%
it's a fire on forget protocol there's
 

00:35:15.550 --> 00:35:17.400 align:start position:0%
it's a fire on forget protocol there's
no<00:35:15.730><c> recovery</c><00:35:16.210><c> phase</c><00:35:16.450><c> there's</c><00:35:16.750><c> no</c><00:35:16.870><c> water</c><00:35:17.170><c> face</c>

00:35:17.400 --> 00:35:17.410 align:start position:0%
no recovery phase there's no water face
 

00:35:17.410 --> 00:35:19.530 align:start position:0%
no recovery phase there's no water face
right<00:35:18.220><c> there's</c><00:35:18.730><c> no</c><00:35:18.850><c> way</c><00:35:18.970><c> that</c><00:35:19.090><c> there's</c><00:35:19.420><c> not</c>

00:35:19.530 --> 00:35:19.540 align:start position:0%
right there's no way that there's not
 

00:35:19.540 --> 00:35:21.660 align:start position:0%
right there's no way that there's not
there's<00:35:19.720><c> no</c><00:35:19.900><c> failure</c><00:35:20.140><c> bird</c><00:35:20.470><c> here</c><00:35:20.710><c> the</c>

00:35:21.660 --> 00:35:21.670 align:start position:0%
there's no failure bird here the
 

00:35:21.670 --> 00:35:25.410 align:start position:0%
there's no failure bird here the
potential<00:35:22.270><c> failure</c><00:35:22.390><c> bird</c><00:35:22.780><c> here</c><00:35:23.020><c> is</c><00:35:23.410><c> if</c><00:35:24.420><c> when</c>

00:35:25.410 --> 00:35:25.420 align:start position:0%
potential failure bird here is if when
 

00:35:25.420 --> 00:35:29.460 align:start position:0%
potential failure bird here is if when
during<00:35:26.110><c> the</c><00:35:26.260><c> time</c><00:35:26.530><c> that</c><00:35:26.560><c> Alice</c><00:35:28.230><c> moved</c><00:35:29.230><c> to</c><00:35:29.350><c> this</c>

00:35:29.460 --> 00:35:29.470 align:start position:0%
during the time that Alice moved to this
 

00:35:29.470 --> 00:35:32.370 align:start position:0%
during the time that Alice moved to this
hotel<00:35:29.770><c> room</c><00:35:30.460><c> to</c><00:35:30.730><c> this</c><00:35:30.820><c> chart</c><00:35:31.090><c> but</c><00:35:31.720><c> might</c><00:35:32.080><c> move</c>

00:35:32.370 --> 00:35:32.380 align:start position:0%
hotel room to this chart but might move
 

00:35:32.380 --> 00:35:34.920 align:start position:0%
hotel room to this chart but might move
this<00:35:32.620><c> train</c><00:35:33.130><c> seats</c><00:35:33.400><c> to</c><00:35:33.910><c> talk</c><00:35:34.060><c> to</c><00:35:34.240><c> trot</c><00:35:34.420><c> one</c>

00:35:34.920 --> 00:35:34.930 align:start position:0%
this train seats to talk to trot one
 

00:35:34.930 --> 00:35:37.740 align:start position:0%
this train seats to talk to trot one
so<00:35:35.680><c> then</c><00:35:35.830><c> chassis</c><00:35:36.130><c> beef</c><00:35:36.340><c> and</c><00:35:37.120><c> so</c><00:35:37.270><c> the</c><00:35:37.630><c> hotel</c>

00:35:37.740 --> 00:35:37.750 align:start position:0%
so then chassis beef and so the hotel
 

00:35:37.750 --> 00:35:40.410 align:start position:0%
so then chassis beef and so the hotel
room<00:35:38.080><c> back</c><00:35:38.260><c> to</c><00:35:38.290><c> your</c><00:35:38.530><c> I</c><00:35:38.620><c> thought</c><00:35:38.890><c> one</c><00:35:39.300><c> but</c><00:35:40.300><c> in</c>

00:35:40.410 --> 00:35:40.420 align:start position:0%
room back to your I thought one but in
 

00:35:40.420 --> 00:35:41.790 align:start position:0%
room back to your I thought one but in
terms<00:35:40.660><c> of</c><00:35:40.810><c> the</c><00:35:40.900><c> actual</c><00:35:41.080><c> first</c><00:35:41.350><c> pole</c><00:35:41.590><c> is</c>

00:35:41.790 --> 00:35:41.800 align:start position:0%
terms of the actual first pole is
 

00:35:41.800 --> 00:35:43.020 align:start position:0%
terms of the actual first pole is
through<00:35:42.010><c> the</c><00:35:42.130><c> protocol</c><00:35:42.490><c> itself</c><00:35:42.610><c> does</c><00:35:43.000><c> not</c>

00:35:43.020 --> 00:35:43.030 align:start position:0%
through the protocol itself does not
 

00:35:43.030 --> 00:35:45.620 align:start position:0%
through the protocol itself does not
have<00:35:43.150><c> a</c><00:35:43.270><c> built-in</c><00:35:43.600><c> support</c><00:35:44.080><c> orthographies</c>

00:35:45.620 --> 00:35:45.630 align:start position:0%
have a built-in support orthographies
 

00:35:45.630 --> 00:35:48.450 align:start position:0%
have a built-in support orthographies
well<00:35:46.630><c> the</c><00:35:46.930><c> other</c><00:35:47.050><c> mechanism</c><00:35:47.620><c> for</c><00:35:48.310><c> doing</c>

00:35:48.450 --> 00:35:48.460 align:start position:0%
well the other mechanism for doing
 

00:35:48.460 --> 00:35:51.150 align:start position:0%
well the other mechanism for doing
computation<00:35:49.390><c> is</c><00:35:50.020><c> called</c><00:35:50.320><c> the</c><00:35:50.440><c> C</c><00:35:50.590><c> phase</c><00:35:50.800><c> grid</c>

00:35:51.150 --> 00:35:51.160 align:start position:0%
computation is called the C phase grid
 

00:35:51.160 --> 00:35:53.730 align:start position:0%
computation is called the C phase grid
and<00:35:52.030><c> then</c><00:35:52.570><c> the</c><00:35:52.690><c> derby</c><00:35:53.110><c> of</c><00:35:53.260><c> to</c><00:35:53.440><c> involve</c>

00:35:53.730 --> 00:35:53.740 align:start position:0%
and then the derby of to involve
 

00:35:53.740 --> 00:35:57.600 align:start position:0%
and then the derby of to involve
everyone<00:35:54.250><c> diagram</c><00:35:55.080><c> like</c><00:35:56.080><c> spin</c><00:35:56.350><c> it</c><00:35:56.470><c> and</c><00:35:56.620><c> T</c>

00:35:57.600 --> 00:35:57.610 align:start position:0%
everyone diagram like spin it and T
 

00:35:57.610 --> 00:35:59.430 align:start position:0%
everyone diagram like spin it and T
phase<00:35:57.820><c> commit</c><00:35:58.090><c> is</c><00:35:58.210><c> a</c><00:35:58.240><c> very</c><00:35:58.660><c> old</c><00:35:58.990><c> principle</c>

00:35:59.430 --> 00:35:59.440 align:start position:0%
phase commit is a very old principle
 

00:35:59.440 --> 00:36:02.940 align:start position:0%
phase commit is a very old principle
that<00:36:00.190><c> I</c><00:36:00.250><c> told</c><00:36:00.550><c> is</c><00:36:01.150><c> because</c><00:36:01.570><c> using</c><00:36:01.950><c> distributed</c>

00:36:02.940 --> 00:36:02.950 align:start position:0%
that I told is because using distributed
 

00:36:02.950 --> 00:36:05.640 align:start position:0%
that I told is because using distributed
systems<00:36:03.310><c> design</c><00:36:04.140><c> but</c><00:36:05.140><c> it</c><00:36:05.260><c> can</c><00:36:05.380><c> also</c><00:36:05.500><c> be</c>

00:36:05.640 --> 00:36:05.650 align:start position:0%
systems design but it can also be
 

00:36:05.650 --> 00:36:08.670 align:start position:0%
systems design but it can also be
applied<00:36:05.830><c> to</c><00:36:06.070><c> shotting</c><00:36:07.140><c> it's</c><00:36:08.140><c> called</c><00:36:08.380><c> defense</c>

00:36:08.670 --> 00:36:08.680 align:start position:0%
applied to shotting it's called defense
 

00:36:08.680 --> 00:36:10.890 align:start position:0%
applied to shotting it's called defense
commit<00:36:08.950><c> because</c><00:36:09.220><c> there's</c><00:36:09.400><c> two</c><00:36:09.550><c> phases</c><00:36:09.900><c> okay</c>

00:36:10.890 --> 00:36:10.900 align:start position:0%
commit because there's two phases okay
 

00:36:10.900 --> 00:36:12.780 align:start position:0%
commit because there's two phases okay
so<00:36:11.470><c> this</c><00:36:11.590><c> ability</c><00:36:11.710><c> have</c><00:36:12.040><c> short</c><00:36:12.280><c> one</c><00:36:12.490><c> and</c><00:36:12.610><c> for</c>

00:36:12.780 --> 00:36:12.790 align:start position:0%
so this ability have short one and for
 

00:36:12.790 --> 00:36:15.660 align:start position:0%
so this ability have short one and for
two<00:36:12.970><c> short</c><00:36:13.270><c> one</c><00:36:13.510><c> manages</c><00:36:13.930><c> a</c><00:36:13.960><c> hotel</c><00:36:14.490><c> trust</c><00:36:15.490><c> to</c>

00:36:15.660 --> 00:36:15.670 align:start position:0%
two short one manages a hotel trust to
 

00:36:15.670 --> 00:36:18.600 align:start position:0%
two short one manages a hotel trust to
manage<00:36:15.820><c> the</c><00:36:16.150><c> Train</c><00:36:16.620><c> the</c><00:36:17.620><c> user</c><00:36:17.860><c> sends</c><00:36:18.310><c> the</c>

00:36:18.600 --> 00:36:18.610 align:start position:0%
manage the Train the user sends the
 

00:36:18.610 --> 00:36:21.060 align:start position:0%
manage the Train the user sends the
transaction<00:36:19.120><c> to</c><00:36:19.240><c> birth</c><00:36:19.390><c> charts</c><00:36:19.890><c> and</c><00:36:20.890><c> then</c>

00:36:21.060 --> 00:36:21.070 align:start position:0%
transaction to birth charts and then
 

00:36:21.070 --> 00:36:26.100 align:start position:0%
transaction to birth charts and then
what<00:36:21.190><c> they</c><00:36:21.310><c> first</c><00:36:21.520><c> do</c><00:36:21.730><c> is</c><00:36:22.740><c> they</c><00:36:24.900><c> check</c><00:36:25.900><c> that</c>

00:36:26.100 --> 00:36:26.110 align:start position:0%
what they first do is they check that
 

00:36:26.110 --> 00:36:28.200 align:start position:0%
what they first do is they check that
the<00:36:26.170><c> transaction</c><00:36:26.620><c> is</c><00:36:26.710><c> valid</c><00:36:27.090><c> using</c><00:36:28.090><c> by</c>

00:36:28.200 --> 00:36:28.210 align:start position:0%
the transaction is valid using by
 

00:36:28.210 --> 00:36:29.970 align:start position:0%
the transaction is valid using by
Santana<00:36:28.540><c> and</c><00:36:28.990><c> they</c><00:36:29.050><c> run</c><00:36:29.230><c> up</c><00:36:29.260><c> my</c><00:36:29.470><c> son</c><00:36:29.650><c> time</c><00:36:29.800><c> for</c>

00:36:29.970 --> 00:36:29.980 align:start position:0%
Santana and they run up my son time for
 

00:36:29.980 --> 00:36:33.930 align:start position:0%
Santana and they run up my son time for
at<00:36:30.370><c> home</c><00:36:30.580><c> whatever</c><00:36:31.060><c> just</c><00:36:32.050><c> like</c><00:36:32.200><c> a</c><00:36:32.410><c> bit</c><00:36:32.940><c> risky</c>

00:36:33.930 --> 00:36:33.940 align:start position:0%
at home whatever just like a bit risky
 

00:36:33.940 --> 00:36:39.480 align:start position:0%
at home whatever just like a bit risky
114<00:36:34.570><c> is</c><00:36:35.220><c> to</c><00:36:36.240><c> agree</c><00:36:37.240><c> the</c><00:36:38.140><c> transaction</c><00:36:38.650><c> on</c>

00:36:39.480 --> 00:36:39.490 align:start position:0%
114 is to agree the transaction on
 

00:36:39.490 --> 00:36:44.290 align:start position:0%
114 is to agree the transaction on
function<00:36:40.210><c> an</c><00:36:40.480><c> ordering</c><00:36:40.870><c> of</c><00:36:40.960><c> the</c><00:36:41.050><c> transaction</c>

00:36:44.290 --> 00:36:44.300 align:start position:0%
 
 

00:36:44.300 --> 00:36:48.640 align:start position:0%
 
second<00:36:44.780><c> taste</c><00:36:45.020><c> and</c><00:36:45.980><c> then</c><00:36:46.220><c> they</c><00:36:47.150><c> lock</c><00:36:47.650><c> they</c>

00:36:48.640 --> 00:36:48.650 align:start position:0%
second taste and then they lock they
 

00:36:48.650 --> 00:36:51.580 align:start position:0%
second taste and then they lock they
lock<00:36:48.890><c> these</c><00:36:49.130><c> objects</c><00:36:49.640><c> okay</c><00:36:50.450><c> that</c><00:36:51.200><c> means</c><00:36:51.320><c> that</c>

00:36:51.580 --> 00:36:51.590 align:start position:0%
lock these objects okay that means that
 

00:36:51.590 --> 00:36:53.890 align:start position:0%
lock these objects okay that means that
once<00:36:51.740><c> these</c><00:36:51.950><c> objects</c><00:36:52.370><c> are</c><00:36:52.490><c> locked</c><00:36:52.730><c> no</c><00:36:53.660><c> other</c>

00:36:53.890 --> 00:36:53.900 align:start position:0%
once these objects are locked no other
 

00:36:53.900 --> 00:36:55.900 align:start position:0%
once these objects are locked no other
transaction<00:36:54.530><c> can</c><00:36:54.770><c> come</c><00:36:54.950><c> along</c><00:36:55.190><c> and</c><00:36:55.400><c> try</c><00:36:55.790><c> to</c>

00:36:55.900 --> 00:36:55.910 align:start position:0%
transaction can come along and try to
 

00:36:55.910 --> 00:36:58.150 align:start position:0%
transaction can come along and try to
use<00:36:56.210><c> these</c><00:36:56.360><c> objects</c><00:36:56.810><c> because</c><00:36:57.680><c> this</c><00:36:57.860><c> one's</c><00:36:58.070><c> a</c>

00:36:58.150 --> 00:36:58.160 align:start position:0%
use these objects because this one's a
 

00:36:58.160 --> 00:37:00.850 align:start position:0%
use these objects because this one's a
this<00:36:58.610><c> objects</c><00:36:59.240><c> these</c><00:37:00.230><c> objects</c><00:37:00.710><c> will</c><00:37:00.830><c> be</c>

00:37:00.850 --> 00:37:00.860 align:start position:0%
this objects these objects will be
 

00:37:00.860 --> 00:37:03.070 align:start position:0%
this objects these objects will be
locked<00:37:01.100><c> in</c><00:37:01.340><c> this</c><00:37:01.430><c> transaction</c><00:37:01.760><c> so</c><00:37:02.750><c> it's</c><00:37:02.990><c> like</c>

00:37:03.070 --> 00:37:03.080 align:start position:0%
locked in this transaction so it's like
 

00:37:03.080 --> 00:37:05.380 align:start position:0%
locked in this transaction so it's like
this<00:37:03.200><c> transaction</c><00:37:03.590><c> is</c><00:37:03.830><c> reserving</c><00:37:04.390><c> reserving</c>

00:37:05.380 --> 00:37:05.390 align:start position:0%
this transaction is reserving reserving
 

00:37:05.390 --> 00:37:07.150 align:start position:0%
this transaction is reserving reserving
these<00:37:05.600><c> objects</c><00:37:06.050><c> it</c><00:37:06.500><c> sounds</c><00:37:06.710><c> like</c><00:37:06.830><c> when</c><00:37:06.950><c> you're</c>

00:37:07.150 --> 00:37:07.160 align:start position:0%
these objects it sounds like when you're
 

00:37:07.160 --> 00:37:09.130 align:start position:0%
these objects it sounds like when you're
an<00:37:07.250><c> event</c><00:37:07.520><c> right</c><00:37:07.760><c> for</c><00:37:07.970><c> example</c><00:37:08.030><c> and</c><00:37:08.870><c> you</c><00:37:08.960><c> try</c>

00:37:09.130 --> 00:37:09.140 align:start position:0%
an event right for example and you try
 

00:37:09.140 --> 00:37:11.380 align:start position:0%
an event right for example and you try
to<00:37:09.200><c> book</c><00:37:09.590><c> a</c><00:37:09.680><c> ticket</c><00:37:09.980><c> it</c><00:37:10.550><c> says</c><00:37:10.760><c> this</c><00:37:10.940><c> ticket</c><00:37:11.270><c> has</c>

00:37:11.380 --> 00:37:11.390 align:start position:0%
to book a ticket it says this ticket has
 

00:37:11.390 --> 00:37:13.390 align:start position:0%
to book a ticket it says this ticket has
been<00:37:11.540><c> reserved</c><00:37:11.870><c> for</c><00:37:12.170><c> seven</c><00:37:12.890><c> minutes</c><00:37:13.220><c> or</c><00:37:13.280><c> so</c>

00:37:13.390 --> 00:37:13.400 align:start position:0%
been reserved for seven minutes or so
 

00:37:13.400 --> 00:37:15.520 align:start position:0%
been reserved for seven minutes or so
grab<00:37:13.580><c> that</c><00:37:13.610><c> if</c><00:37:14.360><c> you</c><00:37:14.840><c> don't</c><00:37:14.960><c> cook</c><00:37:15.230><c> it</c><00:37:15.290><c> within</c>

00:37:15.520 --> 00:37:15.530 align:start position:0%
grab that if you don't cook it within
 

00:37:15.530 --> 00:37:17.560 align:start position:0%
grab that if you don't cook it within
seven<00:37:15.800><c> minutes</c><00:37:15.920><c> then</c><00:37:16.610><c> you</c><00:37:16.670><c> will</c><00:37:16.820><c> need</c><00:37:17.000><c> dessert</c>

00:37:17.560 --> 00:37:17.570 align:start position:0%
seven minutes then you will need dessert
 

00:37:17.570 --> 00:37:19.960 align:start position:0%
seven minutes then you will need dessert
again<00:37:17.840><c> exactly</c><00:37:18.830><c> it's</c><00:37:18.950><c> the</c><00:37:18.980><c> same</c><00:37:19.250><c> principle</c>

00:37:19.960 --> 00:37:19.970 align:start position:0%
again exactly it's the same principle
 

00:37:19.970 --> 00:37:21.820 align:start position:0%
again exactly it's the same principle
you're<00:37:20.510><c> basically</c><00:37:20.750><c> reserving</c><00:37:21.320><c> these</c><00:37:21.440><c> objects</c>

00:37:21.820 --> 00:37:21.830 align:start position:0%
you're basically reserving these objects
 

00:37:21.830 --> 00:37:24.520 align:start position:0%
you're basically reserving these objects
for<00:37:22.010><c> this</c><00:37:22.100><c> transaction</c><00:37:22.460><c> and</c><00:37:23.020><c> once</c><00:37:24.020><c> both</c><00:37:24.380><c> of</c>

00:37:24.520 --> 00:37:24.530 align:start position:0%
for this transaction and once both of
 

00:37:24.530 --> 00:37:27.580 align:start position:0%
for this transaction and once both of
these<00:37:24.680><c> what</c><00:37:25.460><c> all</c><00:37:25.760><c> of</c><00:37:25.880><c> the</c><00:37:26.000><c> shots</c><00:37:26.290><c> have</c><00:37:27.290><c> locks</c>

00:37:27.580 --> 00:37:27.590 align:start position:0%
these what all of the shots have locks
 

00:37:27.590 --> 00:37:30.820 align:start position:0%
these what all of the shots have locks
all<00:37:28.010><c> the</c><00:37:28.280><c> objects</c><00:37:28.900><c> necessary</c><00:37:29.900><c> as</c><00:37:30.260><c> needed</c><00:37:30.710><c> for</c>

00:37:30.820 --> 00:37:30.830 align:start position:0%
all the objects necessary as needed for
 

00:37:30.830 --> 00:37:33.360 align:start position:0%
all the objects necessary as needed for
this<00:37:30.920><c> transaction</c>

00:37:33.360 --> 00:37:33.370 align:start position:0%
 
 

00:37:33.370 --> 00:37:36.940 align:start position:0%
 
they<00:37:34.370><c> basically</c><00:37:35.530><c> communicate</c><00:37:36.530><c> with</c><00:37:36.860><c> each</c>

00:37:36.940 --> 00:37:36.950 align:start position:0%
they basically communicate with each
 

00:37:36.950 --> 00:37:39.130 align:start position:0%
they basically communicate with each
other<00:37:37.040><c> to</c><00:37:37.340><c> tell</c><00:37:37.550><c> them</c><00:37:37.730><c> that</c><00:37:37.910><c> yes</c><00:37:38.780><c> these</c>

00:37:39.130 --> 00:37:39.140 align:start position:0%
other to tell them that yes these
 

00:37:39.140 --> 00:37:40.570 align:start position:0%
other to tell them that yes these
objects<00:37:39.890><c> have</c><00:37:40.040><c> been</c><00:37:40.070><c> locked</c><00:37:40.340><c> to</c><00:37:40.490><c> this</c>

00:37:40.570 --> 00:37:40.580 align:start position:0%
objects have been locked to this
 

00:37:40.580 --> 00:37:43.900 align:start position:0%
objects have been locked to this
transaction<00:37:40.880><c> and</c><00:37:41.410><c> then</c><00:37:42.430><c> they</c><00:37:43.430><c> can</c><00:37:43.580><c> execute</c>

00:37:43.900 --> 00:37:43.910 align:start position:0%
transaction and then they can execute
 

00:37:43.910 --> 00:37:47.190 align:start position:0%
transaction and then they can execute
the<00:37:44.120><c> transaction</c><00:37:44.330><c> and</c><00:37:44.990><c> unlock</c><00:37:45.920><c> the</c><00:37:46.070><c> objects</c>

00:37:47.190 --> 00:37:47.200 align:start position:0%
the transaction and unlock the objects
 

00:37:47.200 --> 00:37:49.660 align:start position:0%
the transaction and unlock the objects
or<00:37:48.200><c> specifically</c><00:37:48.830><c> actually</c><00:37:49.100><c> just</c><00:37:49.400><c> destroy</c>

00:37:49.660 --> 00:37:49.670 align:start position:0%
or specifically actually just destroy
 

00:37:49.670 --> 00:37:52.300 align:start position:0%
or specifically actually just destroy
objects<00:37:50.140><c> depending</c><00:37:51.140><c> on</c><00:37:51.500><c> how</c><00:37:51.680><c> depending</c><00:37:52.190><c> on</c>

00:37:52.300 --> 00:37:52.310 align:start position:0%
objects depending on how depending on
 

00:37:52.310 --> 00:37:55.150 align:start position:0%
objects depending on how depending on
your<00:37:52.460><c> puzzle</c><00:37:53.420><c> they</c><00:37:54.230><c> see</c><00:37:54.290><c> you</c><00:37:54.530><c> chase</c><00:37:54.710><c> a</c><00:37:54.890><c> model</c>

00:37:55.150 --> 00:37:55.160 align:start position:0%
your puzzle they see you chase a model
 

00:37:55.160 --> 00:37:56.380 align:start position:0%
your puzzle they see you chase a model
you<00:37:55.250><c> will</c><00:37:55.310><c> destroy</c><00:37:55.490><c> the</c><00:37:55.640><c> object</c><00:37:56.000><c> because</c><00:37:56.180><c> it</c>

00:37:56.380 --> 00:37:56.390 align:start position:0%
you will destroy the object because it
 

00:37:56.390 --> 00:37:58.630 align:start position:0%
you will destroy the object because it
is<00:37:56.720><c> already</c><00:37:56.870><c> spent</c><00:37:57.200><c> what</c><00:37:57.350><c> once</c><00:37:57.830><c> there</c><00:37:58.490><c> is</c><00:37:58.550><c> a</c>

00:37:58.630 --> 00:37:58.640 align:start position:0%
is already spent what once there is a
 

00:37:58.640 --> 00:38:03.000 align:start position:0%
is already spent what once there is a
contract<00:37:59.060><c> well</c><00:37:59.180><c> open</c><00:37:59.570><c> it's</c><00:38:00.170><c> basically</c><00:38:00.440><c> on</c><00:38:00.620><c> top</c>

00:38:03.000 --> 00:38:03.010 align:start position:0%
 
 

00:38:03.010 --> 00:38:05.820 align:start position:0%
 
and<00:38:04.010><c> so</c><00:38:04.250><c> that's</c><00:38:04.400><c> basically</c><00:38:04.610><c> the</c><00:38:04.910><c> principle</c>

00:38:05.820 --> 00:38:05.830 align:start position:0%
and so that's basically the principle
 

00:38:05.830 --> 00:38:10.380 align:start position:0%
and so that's basically the principle
what<00:38:06.830><c> could</c><00:38:06.980><c> happen</c><00:38:07.310><c> is</c><00:38:08.410><c> another</c><00:38:09.410><c> transaction</c>

00:38:10.380 --> 00:38:10.390 align:start position:0%
what could happen is another transaction
 

00:38:10.390 --> 00:38:13.510 align:start position:0%
what could happen is another transaction
another<00:38:11.390><c> transaction</c><00:38:11.720><c> it</c><00:38:12.470><c> welcomes</c><00:38:13.190><c> long</c><00:38:13.400><c> as</c>

00:38:13.510 --> 00:38:13.520 align:start position:0%
another transaction it welcomes long as
 

00:38:13.520 --> 00:38:16.180 align:start position:0%
another transaction it welcomes long as
fancy<00:38:13.850><c> reserved</c><00:38:14.090><c> the</c><00:38:14.180><c> same</c><00:38:14.330><c> hotel</c><00:38:14.830><c> is</c><00:38:15.830><c> locking</c>

00:38:16.180 --> 00:38:16.190 align:start position:0%
fancy reserved the same hotel is locking
 

00:38:16.190 --> 00:38:18.730 align:start position:0%
fancy reserved the same hotel is locking
will<00:38:16.370><c> this</c><00:38:16.700><c> locking</c><00:38:17.120><c> will</c><00:38:17.270><c> fail</c><00:38:17.480><c> and</c><00:38:17.870><c> then</c>

00:38:18.730 --> 00:38:18.740 align:start position:0%
will this locking will fail and then
 

00:38:18.740 --> 00:38:21.370 align:start position:0%
will this locking will fail and then
versatile<00:38:19.730><c> objects</c><00:38:20.030><c> will</c><00:38:20.120><c> be</c><00:38:20.180><c> unlocked</c><00:38:20.570><c> but</c>

00:38:21.370 --> 00:38:21.380 align:start position:0%
versatile objects will be unlocked but
 

00:38:21.380 --> 00:38:23.260 align:start position:0%
versatile objects will be unlocked but
the<00:38:21.590><c> transaction</c><00:38:22.070><c> will</c><00:38:22.160><c> be</c><00:38:22.190><c> aborted</c><00:38:22.550><c> the</c>

00:38:23.260 --> 00:38:23.270 align:start position:0%
the transaction will be aborted the
 

00:38:23.270 --> 00:38:25.240 align:start position:0%
the transaction will be aborted the
transaction<00:38:23.780><c> will</c><00:38:23.900><c> be</c><00:38:24.020><c> committed</c><00:38:24.410><c> it</c><00:38:25.040><c> will</c><00:38:25.160><c> be</c>

00:38:25.240 --> 00:38:25.250 align:start position:0%
transaction will be committed it will be
 

00:38:25.250 --> 00:38:27.090 align:start position:0%
transaction will be committed it will be
reported

00:38:27.090 --> 00:38:27.100 align:start position:0%
reported
 

00:38:27.100 --> 00:38:29.550 align:start position:0%
reported
[Music]

00:38:29.550 --> 00:38:29.560 align:start position:0%
[Music]
 

00:38:29.560 --> 00:38:31.380 align:start position:0%
[Music]
okay<00:38:30.190><c> so</c><00:38:30.250><c> now</c><00:38:30.580><c> we're</c><00:38:30.760><c> going</c><00:38:30.880><c> to</c><00:38:31.000><c> look</c><00:38:31.150><c> pretty</c>

00:38:31.380 --> 00:38:31.390 align:start position:0%
okay so now we're going to look pretty
 

00:38:31.390 --> 00:38:37.380 align:start position:0%
okay so now we're going to look pretty
about<00:38:31.780><c> question</c><00:38:32.380><c> for</c><00:38:32.650><c> every</c><00:38:32.800><c> camera</c><00:38:35.880><c> a</c><00:38:36.880><c> pretty</c>

00:38:37.380 --> 00:38:37.390 align:start position:0%
about question for every camera a pretty
 

00:38:37.390 --> 00:38:39.180 align:start position:0%
about question for every camera a pretty
poor<00:38:38.110><c> showing</c><00:38:38.290><c> the</c><00:38:38.410><c> verification</c><00:38:38.950><c> validation</c>

00:38:39.180 --> 00:38:39.190 align:start position:0%
poor showing the verification validation
 

00:38:39.190 --> 00:38:41.340 align:start position:0%
poor showing the verification validation
and<00:38:39.640><c> this</c><00:38:39.790><c> I</c><00:38:40.000><c> think</c><00:38:40.180><c> we're</c><00:38:40.270><c> going</c><00:38:40.450><c> demo</c><00:38:40.930><c> don't</c>

00:38:41.340 --> 00:38:41.350 align:start position:0%
and this I think we're going demo don't
 

00:38:41.350 --> 00:38:44.280 align:start position:0%
and this I think we're going demo don't
okay<00:38:41.740><c> workshop</c><00:38:42.580><c> actually</c><00:38:43.120><c> how</c><00:38:43.780><c> many</c><00:38:43.840><c> how</c><00:38:44.260><c> many</c>

00:38:44.280 --> 00:38:44.290 align:start position:0%
okay workshop actually how many how many
 

00:38:44.290 --> 00:38:46.670 align:start position:0%
okay workshop actually how many how many
people<00:38:44.620><c> actually</c><00:38:45.190><c> have</c><00:38:45.520><c> a</c><00:38:45.550><c> laptop</c><00:38:46.000><c> here</c><00:38:46.240><c> and</c>

00:38:46.670 --> 00:38:46.680 align:start position:0%
people actually have a laptop here and
 

00:38:46.680 --> 00:38:49.970 align:start position:0%
people actually have a laptop here and
can't<00:38:47.680><c> participate</c><00:38:48.040><c> in</c><00:38:48.430><c> the</c><00:38:48.520><c> coding</c><00:38:48.820><c> part</c>

00:38:49.970 --> 00:38:49.980 align:start position:0%
can't participate in the coding part
 

00:38:49.980 --> 00:38:53.360 align:start position:0%
can't participate in the coding part
okay<00:38:51.010><c> can</c><00:38:51.340><c> you</c><00:38:51.430><c> raise</c><00:38:51.550><c> like</c><00:38:51.790><c> just</c><00:38:51.970><c> we</c><00:38:52.150><c> see</c><00:38:52.350><c> so</c>

00:38:53.360 --> 00:38:53.370 align:start position:0%
okay can you raise like just we see so
 

00:38:53.370 --> 00:39:01.590 align:start position:0%
okay can you raise like just we see so
okay<00:38:54.370><c> cool</c><00:38:54.580><c> yeah</c><00:38:54.820><c> then</c><00:39:00.120><c> let's</c><00:39:01.120><c> just</c><00:39:01.330><c> go</c><00:39:01.420><c> to</c><00:39:01.480><c> a</c>

00:39:01.590 --> 00:39:01.600 align:start position:0%
okay cool yeah then let's just go to a
 

00:39:01.600 --> 00:39:03.960 align:start position:0%
okay cool yeah then let's just go to a
survey<00:39:01.870><c> up</c><00:39:01.990><c> just</c><00:39:02.290><c> okay</c><00:39:02.830><c> so</c><00:39:02.970><c> question</c>

00:39:03.960 --> 00:39:03.970 align:start position:0%
survey up just okay so question
 

00:39:03.970 --> 00:39:07.170 align:start position:0%
survey up just okay so question
verification<00:39:04.900><c> and</c><00:39:05.110><c> validation</c><00:39:05.880><c> when</c><00:39:06.880><c> you</c><00:39:07.000><c> do</c>

00:39:07.170 --> 00:39:07.180 align:start position:0%
verification and validation when you do
 

00:39:07.180 --> 00:39:10.290 align:start position:0%
verification and validation when you do
question<00:39:08.080><c> credit</c><00:39:08.410><c> transactions</c><00:39:09.210><c> means</c><00:39:10.210><c> you</c>

00:39:10.290 --> 00:39:10.300 align:start position:0%
question credit transactions means you
 

00:39:10.300 --> 00:39:12.510 align:start position:0%
question credit transactions means you
validate<00:39:10.720><c> that's</c><00:39:11.080><c> the</c><00:39:11.650><c> messages</c><00:39:12.070><c> that</c><00:39:12.310><c> you're</c>

00:39:12.510 --> 00:39:12.520 align:start position:0%
validate that's the messages that you're
 

00:39:12.520 --> 00:39:15.510 align:start position:0%
validate that's the messages that you're
receiving<00:39:13.260><c> question</c><00:39:14.260><c> are</c><00:39:14.980><c> actually</c><00:39:15.310><c> valid</c>

00:39:15.510 --> 00:39:15.520 align:start position:0%
receiving question are actually valid
 

00:39:15.520 --> 00:39:19.470 align:start position:0%
receiving question are actually valid
verified<00:39:16.950><c> now</c><00:39:17.950><c> there's</c><00:39:18.580><c> different</c><00:39:19.000><c> levels</c><00:39:19.150><c> of</c>

00:39:19.470 --> 00:39:19.480 align:start position:0%
verified now there's different levels of
 

00:39:19.480 --> 00:39:23.160 align:start position:0%
verified now there's different levels of
verification<00:39:20.440><c> for</c><00:39:21.220><c> watching</c><00:39:21.610><c> okay</c><00:39:22.060><c> as</c><00:39:22.960><c> we</c>

00:39:23.160 --> 00:39:23.170 align:start position:0%
verification for watching okay as we
 

00:39:23.170 --> 00:39:26.510 align:start position:0%
verification for watching okay as we
with<00:39:23.650><c> question</c><00:39:24.160><c> for</c><00:39:24.730><c> same</c><00:39:24.880><c> communication</c>

00:39:26.510 --> 00:39:26.520 align:start position:0%
with question for same communication
 

00:39:26.520 --> 00:39:32.910 align:start position:0%
with question for same communication
first<00:39:27.520><c> level</c><00:39:28.710><c> state</c><00:39:29.710><c> verification</c><00:39:30.870><c> like</c><00:39:31.920><c> that</c>

00:39:32.910 --> 00:39:32.920 align:start position:0%
first level state verification like that
 

00:39:32.920 --> 00:39:35.160 align:start position:0%
first level state verification like that
means<00:39:33.070><c> verifying</c><00:39:33.610><c> that</c><00:39:33.910><c> states</c><00:39:34.540><c> correct</c><00:39:34.900><c> I</c>

00:39:35.160 --> 00:39:35.170 align:start position:0%
means verifying that states correct I
 

00:39:35.170 --> 00:39:37.500 align:start position:0%
means verifying that states correct I
mean<00:39:35.470><c> just</c><00:39:35.800><c> verifying</c><00:39:36.220><c> what</c><00:39:36.520><c> the</c><00:39:36.610><c> state</c><00:39:36.820><c> is</c><00:39:37.060><c> or</c>

00:39:37.500 --> 00:39:37.510 align:start position:0%
mean just verifying what the state is or
 

00:39:37.510 --> 00:39:39.510 align:start position:0%
mean just verifying what the state is or
what<00:39:37.690><c> or</c><00:39:37.900><c> what</c><00:39:37.930><c> or</c><00:39:38.380><c> what</c><00:39:38.650><c> the</c><00:39:38.890><c> consensus</c>

00:39:39.510 --> 00:39:39.520 align:start position:0%
what or what or what the consensus
 

00:39:39.520 --> 00:39:43.080 align:start position:0%
what or what or what the consensus
thinks<00:39:40.240><c> the</c><00:39:40.360><c> state</c><00:39:40.540><c> is</c><00:39:40.800><c> for</c><00:39:41.800><c> example</c><00:39:42.090><c> checking</c>

00:39:43.080 --> 00:39:43.090 align:start position:0%
thinks the state is for example checking
 

00:39:43.090 --> 00:39:47.610 align:start position:0%
thinks the state is for example checking
that<00:39:43.360><c> some</c><00:39:43.600><c> sort</c><00:39:44.380><c> of</c><00:39:44.440><c> locator</c><00:39:46.230><c> state</c><00:39:47.230><c> is</c><00:39:47.410><c> just</c>

00:39:47.610 --> 00:39:47.620 align:start position:0%
that some sort of locator state is just
 

00:39:47.620 --> 00:39:49.590 align:start position:0%
that some sort of locator state is just
for<00:39:48.010><c> work</c><00:39:48.160><c> right</c><00:39:48.430><c> yeah</c><00:39:48.580><c> that's</c><00:39:48.730><c> government</c><00:39:49.240><c> is</c>

00:39:49.590 --> 00:39:49.600 align:start position:0%
for work right yeah that's government is
 

00:39:49.600 --> 00:39:51.300 align:start position:0%
for work right yeah that's government is
not<00:39:49.720><c> fitting</c><00:39:50.140><c> but</c><00:39:50.290><c> so</c><00:39:50.770><c> checking</c><00:39:50.980><c> this</c><00:39:51.190><c> is</c>

00:39:51.300 --> 00:39:51.310 align:start position:0%
not fitting but so checking this is
 

00:39:51.310 --> 00:39:55.860 align:start position:0%
not fitting but so checking this is
valid<00:39:51.730><c> checking</c><00:39:52.830><c> what</c><00:39:54.120><c> does</c><00:39:55.120><c> the</c><00:39:55.270><c> consensus</c>

00:39:55.860 --> 00:39:55.870 align:start position:0%
valid checking what does the consensus
 

00:39:55.870 --> 00:40:01.890 align:start position:0%
valid checking what does the consensus
was<00:39:57.030><c> what</c><00:39:58.030><c> states</c><00:39:58.750><c> that</c><00:39:58.990><c> the</c><00:39:59.110><c> consensus</c><00:40:00.900><c> we're</c>

00:40:01.890 --> 00:40:01.900 align:start position:0%
was what states that the consensus we're
 

00:40:01.900 --> 00:40:03.900 align:start position:0%
was what states that the consensus we're
gonna<00:40:02.050><c> agree</c><00:40:02.260><c> on</c><00:40:02.350><c> like</c><00:40:02.560><c> what</c><00:40:02.770><c> next</c>

00:40:03.900 --> 00:40:03.910 align:start position:0%
gonna agree on like what next
 

00:40:03.910 --> 00:40:05.730 align:start position:0%
gonna agree on like what next
it's<00:40:04.000><c> just</c><00:40:04.120><c> taking</c><00:40:04.300><c> a</c><00:40:04.330><c> piece</c><00:40:04.450><c> of</c><00:40:04.570><c> work</c><00:40:04.780><c> so</c><00:40:05.050><c> if</c>

00:40:05.730 --> 00:40:05.740 align:start position:0%
it's just taking a piece of work so if
 

00:40:05.740 --> 00:40:10.080 align:start position:0%
it's just taking a piece of work so if
you<00:40:05.890><c> have</c><00:40:06.010><c> a</c><00:40:06.930><c> half</c><00:40:07.990><c> mmm</c><00:40:08.350><c> oh</c><00:40:08.380><c> good</c><00:40:08.680><c> or</c><00:40:08.970><c> sorry</c><00:40:09.970><c> a</c>

00:40:10.080 --> 00:40:10.090 align:start position:0%
you have a half mmm oh good or sorry a
 

00:40:10.090 --> 00:40:12.450 align:start position:0%
you have a half mmm oh good or sorry a
block<00:40:10.270><c> header</c><00:40:10.480><c> then</c><00:40:11.440><c> this</c><00:40:11.650><c> simply</c><00:40:11.980><c> involves</c>

00:40:12.450 --> 00:40:12.460 align:start position:0%
block header then this simply involves
 

00:40:12.460 --> 00:40:15.540 align:start position:0%
block header then this simply involves
checking<00:40:12.640><c> that</c><00:40:12.910><c> that</c><00:40:13.090><c> Bach</c><00:40:13.300><c> header</c><00:40:13.650><c> has</c><00:40:14.650><c> a</c>

00:40:15.540 --> 00:40:15.550 align:start position:0%
checking that that Bach header has a
 

00:40:15.550 --> 00:40:19.630 align:start position:0%
checking that that Bach header has a
piece<00:40:16.030><c> of</c><00:40:16.060><c> work</c><00:40:16.390><c> but</c><00:40:16.690><c> it</c><00:40:17.650><c> all</c><00:40:17.800><c> has</c><00:40:18.010><c> has</c><00:40:18.490><c> a</c><00:40:18.520><c> crest</c>

00:40:19.630 --> 00:40:19.640 align:start position:0%
piece of work but it all has has a crest
 

00:40:19.640 --> 00:40:23.230 align:start position:0%
piece of work but it all has has a crest
sensors<00:40:20.030><c> this</c><00:40:20.750><c> is</c><00:40:20.870><c> my</c><00:40:21.200><c> business</c><00:40:22.240><c> flashing</c>

00:40:23.230 --> 00:40:23.240 align:start position:0%
sensors this is my business flashing
 

00:40:23.240 --> 00:40:24.730 align:start position:0%
sensors this is my business flashing
maybe<00:40:23.420><c> has</c><00:40:23.540><c> from</c><00:40:23.690><c> the</c><00:40:23.750><c> tube</c><00:40:23.930><c> sorry</c><00:40:24.170><c> I've</c><00:40:24.290><c> ever</c>

00:40:24.730 --> 00:40:24.740 align:start position:0%
maybe has from the tube sorry I've ever
 

00:40:24.740 --> 00:40:27.150 align:start position:0%
maybe has from the tube sorry I've ever
stopped<00:40:24.980><c> yes</c><00:40:25.460><c> sir</c><00:40:25.940><c> I'm</c><00:40:26.090><c> not</c><00:40:26.420><c> over</c><00:40:26.690><c> to</c><00:40:26.870><c> use</c><00:40:27.020><c> this</c>

00:40:27.150 --> 00:40:27.160 align:start position:0%
stopped yes sir I'm not over to use this
 

00:40:27.160 --> 00:40:31.480 align:start position:0%
stopped yes sir I'm not over to use this
consensus<00:40:29.680><c> so</c><00:40:30.680><c> step</c><00:40:30.920><c> number</c><00:40:30.950><c> one</c><00:40:31.340><c> is</c><00:40:31.430><c> just</c>

00:40:31.480 --> 00:40:31.490 align:start position:0%
consensus so step number one is just
 

00:40:31.490 --> 00:40:34.000 align:start position:0%
consensus so step number one is just
saying<00:40:31.760><c> some</c><00:40:32.000><c> particular</c><00:40:32.420><c> that</c><00:40:32.890><c> the</c><00:40:33.890><c> high</c>

00:40:34.000 --> 00:40:34.010 align:start position:0%
saying some particular that the high
 

00:40:34.010 --> 00:40:36.190 align:start position:0%
saying some particular that the high
flow<00:40:34.310><c> is</c><00:40:34.460><c> constant</c><00:40:34.610><c> is</c><00:40:34.910><c> to</c><00:40:35.480><c> separate</c><00:40:35.900><c> checking</c>

00:40:36.190 --> 00:40:36.200 align:start position:0%
flow is constant is to separate checking
 

00:40:36.200 --> 00:40:37.810 align:start position:0%
flow is constant is to separate checking
if<00:40:36.290><c> the</c><00:40:36.410><c> consciousness</c><00:40:36.980><c> is</c><00:40:37.190><c> the</c><00:40:37.370><c> consensus</c>

00:40:37.810 --> 00:40:37.820 align:start position:0%
if the consciousness is the consensus
 

00:40:37.820 --> 00:40:41.080 align:start position:0%
if the consciousness is the consensus
agrees<00:40:38.180><c> on</c><00:40:38.360><c> what</c><00:40:38.480><c> the</c><00:40:38.540><c> state</c><00:40:38.750><c> is</c><00:40:39.730><c> so</c><00:40:40.730><c> this</c><00:40:40.910><c> is</c>

00:40:41.080 --> 00:40:41.090 align:start position:0%
agrees on what the state is so this is
 

00:40:41.090 --> 00:40:44.050 align:start position:0%
agrees on what the state is so this is
simply<00:40:41.450><c> my</c><00:40:41.840><c> plants</c><00:40:42.500><c> so</c><00:40:42.920><c> that</c><00:40:42.950><c> OS</c><00:40:43.280><c> pv</c><00:40:43.550><c> s</c><00:40:43.820><c> pv</c>

00:40:44.050 --> 00:40:44.060 align:start position:0%
simply my plants so that OS pv s pv
 

00:40:44.060 --> 00:40:48.210 align:start position:0%
simply my plants so that OS pv s pv
verification<00:40:45.100><c> so</c><00:40:46.100><c> one</c><00:40:46.310><c> you</c><00:40:46.730><c> download</c><00:40:47.120><c> a</c>

00:40:48.210 --> 00:40:48.220 align:start position:0%
verification so one you download a
 

00:40:48.220 --> 00:40:51.370 align:start position:0%
verification so one you download a
follow<00:40:49.220><c> it</c><00:40:49.550><c> for</c><00:40:49.820><c> particular</c><00:40:50.480><c> example</c><00:40:50.990><c> Android</c>

00:40:51.370 --> 00:40:51.380 align:start position:0%
follow it for particular example Android
 

00:40:51.380 --> 00:40:54.640 align:start position:0%
follow it for particular example Android
Android<00:40:52.300><c> where</c><00:40:53.300><c> Bob</c><00:40:53.450><c> Willis</c><00:40:53.720><c> is</c><00:40:53.900><c> downloading</c>

00:40:54.640 --> 00:40:54.650 align:start position:0%
Android where Bob Willis is downloading
 

00:40:54.650 --> 00:40:56.470 align:start position:0%
Android where Bob Willis is downloading
that<00:40:55.430><c> small</c><00:40:55.730><c> piece</c><00:40:55.880><c> of</c><00:40:55.910><c> the</c><00:40:56.060><c> block</c><00:40:56.270><c> through</c>

00:40:56.470 --> 00:40:56.480 align:start position:0%
that small piece of the block through
 

00:40:56.480 --> 00:40:59.380 align:start position:0%
that small piece of the block through
the<00:40:56.510><c> blog</c><00:40:56.720><c> header</c><00:40:57.640><c> and</c><00:40:58.640><c> his</c><00:40:58.820><c> stuff</c><00:40:59.060><c> is</c><00:40:59.240><c> not</c>

00:40:59.380 --> 00:40:59.390 align:start position:0%
the blog header and his stuff is not
 

00:40:59.390 --> 00:41:00.910 align:start position:0%
the blog header and his stuff is not
actually<00:40:59.750><c> checking</c><00:41:00.020><c> what</c><00:41:00.230><c> the</c><00:41:00.290><c> state</c><00:41:00.500><c> is</c><00:41:00.530><c> it's</c>

00:41:00.910 --> 00:41:00.920 align:start position:0%
actually checking what the state is it's
 

00:41:00.920 --> 00:41:01.960 align:start position:0%
actually checking what the state is it's
just<00:41:01.100><c> checking</c><00:41:01.250><c> that</c><00:41:01.490><c> the</c><00:41:01.580><c> state</c><00:41:01.820><c> has</c>

00:41:01.960 --> 00:41:01.970 align:start position:0%
just checking that the state has
 

00:41:01.970 --> 00:41:07.500 align:start position:0%
just checking that the state has
consensus<00:41:04.330><c> instead</c><00:41:05.330><c> level</c><00:41:05.720><c> is</c><00:41:06.380><c> ticking</c>

00:41:07.500 --> 00:41:07.510 align:start position:0%
consensus instead level is ticking
 

00:41:07.510 --> 00:41:10.330 align:start position:0%
consensus instead level is ticking
what<00:41:08.510><c> transactions</c><00:41:09.080><c> are</c><00:41:09.620><c> fruits</c><00:41:10.100><c> in</c><00:41:10.250><c> the</c>

00:41:10.330 --> 00:41:10.340 align:start position:0%
what transactions are fruits in the
 

00:41:10.340 --> 00:41:14.590 align:start position:0%
what transactions are fruits in the
state<00:41:10.810><c> that</c><00:41:11.810><c> are</c><00:41:11.870><c> relevant</c><00:41:12.170><c> to</c><00:41:12.350><c> you</c><00:41:12.790><c> so</c><00:41:13.790><c> not</c>

00:41:14.590 --> 00:41:14.600 align:start position:0%
state that are relevant to you so not
 

00:41:14.600 --> 00:41:17.320 align:start position:0%
state that are relevant to you so not
necessarily<00:41:14.990><c> every</c><00:41:15.260><c> transaction</c><00:41:16.150><c> so</c><00:41:17.150><c> for</c>

00:41:17.320 --> 00:41:17.330 align:start position:0%
necessarily every transaction so for
 

00:41:17.330 --> 00:41:19.420 align:start position:0%
necessarily every transaction so for
example<00:41:17.720><c> you</c><00:41:18.620><c> might</c><00:41:18.770><c> want</c><00:41:18.980><c> some</c><00:41:19.040><c> what</c><00:41:19.310><c> you</c>

00:41:19.420 --> 00:41:19.430 align:start position:0%
example you might want some what you
 

00:41:19.430 --> 00:41:21.220 align:start position:0%
example you might want some what you
might<00:41:19.550><c> want</c><00:41:19.760><c> to</c><00:41:19.790><c> check</c><00:41:19.970><c> but</c><00:41:20.630><c> someone</c><00:41:20.930><c> sent</c><00:41:21.140><c> to</c>

00:41:21.220 --> 00:41:21.230 align:start position:0%
might want to check but someone sent to
 

00:41:21.230 --> 00:41:23.470 align:start position:0%
might want to check but someone sent to
use<00:41:21.320><c> transaction</c><00:41:21.880><c> so</c><00:41:22.880><c> you</c><00:41:22.940><c> will</c><00:41:23.090><c> ask</c><00:41:23.270><c> for</c>

00:41:23.470 --> 00:41:23.480 align:start position:0%
use transaction so you will ask for
 

00:41:23.480 --> 00:41:24.850 align:start position:0%
use transaction so you will ask for
notice<00:41:23.750><c> to</c><00:41:23.960><c> give</c><00:41:24.110><c> you</c><00:41:24.200><c> a</c><00:41:24.230><c> proof</c><00:41:24.590><c> that</c><00:41:24.620><c> a</c>

00:41:24.850 --> 00:41:24.860 align:start position:0%
notice to give you a proof that a
 

00:41:24.860 --> 00:41:26.230 align:start position:0%
notice to give you a proof that a
translation<00:41:25.430><c> has</c><00:41:25.520><c> been</c><00:41:25.670><c> included</c><00:41:25.880><c> in</c><00:41:26.180><c> the</c>

00:41:26.230 --> 00:41:26.240 align:start position:0%
translation has been included in the
 

00:41:26.240 --> 00:41:31.270 align:start position:0%
translation has been included in the
dock<00:41:26.450><c> simple</c><00:41:27.230><c> memory</c><00:41:27.530><c> and</c><00:41:29.740><c> number</c><00:41:30.740><c> four</c><00:41:31.010><c> is</c>

00:41:31.270 --> 00:41:31.280 align:start position:0%
dock simple memory and number four is
 

00:41:31.280 --> 00:41:34.360 align:start position:0%
dock simple memory and number four is
stake<00:41:31.550><c> validity</c><00:41:32.120><c> so</c><00:41:32.800><c> just</c><00:41:33.800><c> because</c><00:41:33.950><c> you</c><00:41:34.190><c> know</c>

00:41:34.360 --> 00:41:34.370 align:start position:0%
stake validity so just because you know
 

00:41:34.370 --> 00:41:37.180 align:start position:0%
stake validity so just because you know
that<00:41:34.670><c> the</c><00:41:34.910><c> state</c><00:41:35.150><c> has</c><00:41:35.450><c> consensus</c><00:41:36.080><c> does</c><00:41:37.010><c> not</c>

00:41:37.180 --> 00:41:37.190 align:start position:0%
that the state has consensus does not
 

00:41:37.190 --> 00:41:40.860 align:start position:0%
that the state has consensus does not
mean<00:41:37.400><c> that</c><00:41:37.670><c> the</c><00:41:37.970><c> state</c><00:41:38.210><c> is</c><00:41:38.480><c> valid</c><00:41:39.220><c> okay</c><00:41:40.220><c> so</c>

00:41:40.860 --> 00:41:40.870 align:start position:0%
mean that the state is valid okay so
 

00:41:40.870 --> 00:41:43.690 align:start position:0%
mean that the state is valid okay so
it's<00:41:41.870><c> very</c><00:41:42.080><c> possible</c><00:41:42.320><c> that</c><00:41:42.830><c> this</c><00:41:43.400><c> one</c><00:41:43.610><c> is</c>

00:41:43.690 --> 00:41:43.700 align:start position:0%
it's very possible that this one is
 

00:41:43.700 --> 00:41:46.660 align:start position:0%
it's very possible that this one is
majority<00:41:44.030><c> of</c><00:41:44.510><c> miners</c><00:41:45.020><c> or</c><00:41:45.440><c> speakers</c><00:41:45.860><c> could</c>

00:41:46.660 --> 00:41:46.670 align:start position:0%
majority of miners or speakers could
 

00:41:46.670 --> 00:41:50.980 align:start position:0%
majority of miners or speakers could
produce<00:41:46.910><c> a</c><00:41:47.420><c> blog</c><00:41:47.840><c> that</c><00:41:48.170><c> is</c><00:41:49.160><c> invalid</c><00:41:49.610><c> or</c><00:41:49.990><c> even</c>

00:41:50.980 --> 00:41:50.990 align:start position:0%
produce a blog that is invalid or even
 

00:41:50.990 --> 00:41:52.540 align:start position:0%
produce a blog that is invalid or even
like<00:41:51.140><c> a</c><00:41:51.380><c> single</c><00:41:51.560><c> miner</c><00:41:51.830><c> to</c><00:41:52.040><c> do</c><00:41:52.160><c> that</c><00:41:52.310><c> actually</c>

00:41:52.540 --> 00:41:52.550 align:start position:0%
like a single miner to do that actually
 

00:41:52.550 --> 00:41:57.820 align:start position:0%
like a single miner to do that actually
got<00:41:52.850><c> a</c><00:41:52.910><c> diamond</c><00:41:53.330><c> size</c><00:41:53.540><c> majority</c><00:41:55.720><c> so</c><00:41:56.720><c> in</c><00:41:57.710><c> the</c>

00:41:57.820 --> 00:41:57.830 align:start position:0%
got a diamond size majority so in the
 

00:41:57.830 --> 00:41:59.290 align:start position:0%
got a diamond size majority so in the
big<00:41:57.980><c> quake</c><00:41:58.100><c> principle</c><00:41:58.520><c> or</c><00:41:58.580><c> if</c><00:41:58.730><c> they</c><00:41:58.850><c> report</c>

00:41:59.290 --> 00:41:59.300 align:start position:0%
big quake principle or if they report
 

00:41:59.300 --> 00:42:03.310 align:start position:0%
big quake principle or if they report
for<00:42:00.140><c> a</c><00:42:00.170><c> block</c><00:42:00.440><c> to</c><00:42:00.560><c> be</c><00:42:00.650><c> valid</c><00:42:01.330><c> it's</c><00:42:02.330><c> not</c><00:42:02.450><c> it's</c><00:42:03.260><c> a</c>

00:42:03.310 --> 00:42:03.320 align:start position:0%
for a block to be valid it's not it's a
 

00:42:03.320 --> 00:42:04.930 align:start position:0%
for a block to be valid it's not it's a
common<00:42:03.530><c> misconception</c><00:42:03.590><c> actually</c><00:42:04.370><c> that's</c><00:42:04.580><c> a</c>

00:42:04.930 --> 00:42:04.940 align:start position:0%
common misconception actually that's a
 

00:42:04.940 --> 00:42:06.130 align:start position:0%
common misconception actually that's a
lot<00:42:05.090><c> of</c><00:42:05.150><c> people</c><00:42:05.390><c> think</c><00:42:05.570><c> for</c><00:42:05.750><c> a</c><00:42:05.780><c> block</c><00:42:05.960><c> to</c><00:42:06.050><c> be</c>

00:42:06.130 --> 00:42:06.140 align:start position:0%
lot of people think for a block to be
 

00:42:06.140 --> 00:42:09.340 align:start position:0%
lot of people think for a block to be
valid<00:42:06.730><c> it</c><00:42:07.730><c> needs</c><00:42:07.940><c> to</c><00:42:08.000><c> have</c><00:42:08.150><c> people</c><00:42:09.050><c> needs</c><00:42:09.290><c> to</c>

00:42:09.340 --> 00:42:09.350 align:start position:0%
valid it needs to have people needs to
 

00:42:09.350 --> 00:42:11.850 align:start position:0%
valid it needs to have people needs to
have<00:42:09.560><c> its</c><00:42:09.710><c> consensus</c><00:42:10.160><c> but</c><00:42:10.850><c> that's</c><00:42:11.000><c> not</c><00:42:11.120><c> sure</c>

00:42:11.850 --> 00:42:11.860 align:start position:0%
have its consensus but that's not sure
 

00:42:11.860 --> 00:42:15.520 align:start position:0%
have its consensus but that's not sure
nobody<00:42:12.860><c> exactly</c><00:42:13.070><c> has</c><00:42:13.430><c> consensus</c><00:42:14.140><c> the</c><00:42:15.140><c> actual</c>

00:42:15.520 --> 00:42:15.530 align:start position:0%
nobody exactly has consensus the actual
 

00:42:15.530 --> 00:42:17.290 align:start position:0%
nobody exactly has consensus the actual
the<00:42:15.800><c> actual</c><00:42:15.980><c> transactions</c><00:42:16.700><c> in</c><00:42:16.850><c> the</c><00:42:16.910><c> block</c><00:42:17.120><c> has</c>

00:42:17.290 --> 00:42:17.300 align:start position:0%
the actual transactions in the block has
 

00:42:17.300 --> 00:42:20.500 align:start position:0%
the actual transactions in the block has
to<00:42:17.330><c> be</c><00:42:17.420><c> correct</c><00:42:17.840><c> as</c><00:42:17.990><c> well</c><00:42:18.160><c> so</c><00:42:19.160><c> a</c><00:42:19.520><c> dishonest</c>

00:42:20.500 --> 00:42:20.510 align:start position:0%
to be correct as well so a dishonest
 

00:42:20.510 --> 00:42:21.770 align:start position:0%
to be correct as well so a dishonest
majority<00:42:21.110><c> of</c><00:42:21.200><c> consensus</c>

00:42:21.770 --> 00:42:21.780 align:start position:0%
majority of consensus
 

00:42:21.780 --> 00:42:23.750 align:start position:0%
majority of consensus
this<00:42:21.930><c> fence</c><00:42:22.200><c> not</c><00:42:22.590><c> be</c><00:42:22.710><c> able</c><00:42:22.860><c> to</c><00:42:23.040><c> concerns</c><00:42:23.580><c> by</c>

00:42:23.750 --> 00:42:23.760 align:start position:0%
this fence not be able to concerns by
 

00:42:23.760 --> 00:42:25.790 align:start position:0%
this fence not be able to concerns by
the<00:42:23.790><c> transactions</c><00:42:24.570><c> it's</c><00:42:25.080><c> a</c><00:42:25.200><c> block</c><00:42:25.410><c> that's</c>

00:42:25.790 --> 00:42:25.800 align:start position:0%
the transactions it's a block that's
 

00:42:25.800 --> 00:42:29.330 align:start position:0%
the transactions it's a block that's
still<00:42:26.040><c> people's</c><00:42:26.340><c> money</c><00:42:26.490><c> so</c><00:42:27.410><c> that's</c><00:42:28.410><c> why</c><00:42:28.620><c> it's</c>

00:42:29.330 --> 00:42:29.340 align:start position:0%
still people's money so that's why it's
 

00:42:29.340 --> 00:42:30.740 align:start position:0%
still people's money so that's why it's
also<00:42:29.460><c> important</c><00:42:29.910><c> you've</c><00:42:30.000><c> actually</c><00:42:30.120><c> validate</c>

00:42:30.740 --> 00:42:30.750 align:start position:0%
also important you've actually validate
 

00:42:30.750 --> 00:42:32.750 align:start position:0%
also important you've actually validate
the<00:42:30.900><c> state</c><00:42:31.140><c> and</c><00:42:31.380><c> what</c><00:42:31.620><c> just</c><00:42:31.800><c> as</c><00:42:32.010><c> trusted</c>

00:42:32.750 --> 00:42:32.760 align:start position:0%
the state and what just as trusted
 

00:42:32.760 --> 00:42:34.430 align:start position:0%
the state and what just as trusted
consensus<00:42:33.210><c> and</c><00:42:33.660><c> that's</c><00:42:33.810><c> what</c><00:42:33.990><c> basically</c><00:42:34.110><c> the</c>

00:42:34.430 --> 00:42:34.440 align:start position:0%
consensus and that's what basically the
 

00:42:34.440 --> 00:42:35.990 align:start position:0%
consensus and that's what basically the
purpose<00:42:34.620><c> of</c><00:42:34.860><c> full</c><00:42:35.070><c> notes</c><00:42:35.280><c> if</c><00:42:35.550><c> you</c><00:42:35.670><c> run</c><00:42:35.790><c> a</c><00:42:35.820><c> full</c>

00:42:35.990 --> 00:42:36.000 align:start position:0%
purpose of full notes if you run a full
 

00:42:36.000 --> 00:42:38.420 align:start position:0%
purpose of full notes if you run a full
minute<00:42:36.210><c> to</c><00:42:36.510><c> verify</c><00:42:37.170><c> a</c><00:42:37.230><c> entire</c><00:42:37.560><c> part</c><00:42:37.800><c> in</c><00:42:37.950><c> your</c>

00:42:38.420 --> 00:42:38.430 align:start position:0%
minute to verify a entire part in your
 

00:42:38.430 --> 00:42:39.680 align:start position:0%
minute to verify a entire part in your
checking<00:42:38.610><c> every</c><00:42:38.880><c> single</c><00:42:39.090><c> transaction</c>

00:42:39.680 --> 00:42:39.690 align:start position:0%
checking every single transaction
 

00:42:39.690 --> 00:42:41.770 align:start position:0%
checking every single transaction
you're<00:42:40.080><c> not</c><00:42:40.260><c> just</c><00:42:40.350><c> simply</c><00:42:40.680><c> trust</c><00:42:41.340><c> you</c><00:42:41.670><c> know</c>

00:42:41.770 --> 00:42:41.780 align:start position:0%
you're not just simply trust you know
 

00:42:41.780 --> 00:42:47.060 align:start position:0%
you're not just simply trust you know
trusting<00:42:42.780><c> with</c><00:42:42.870><c> consensus</c><00:42:44.150><c> and</c><00:42:45.830><c> the</c><00:42:46.830><c> fifth</c>

00:42:47.060 --> 00:42:47.070 align:start position:0%
trusting with consensus and the fifth
 

00:42:47.070 --> 00:42:48.860 align:start position:0%
trusting with consensus and the fifth
level<00:42:47.280><c> which</c><00:42:47.580><c> we'll</c><00:42:47.700><c> talk</c><00:42:48.030><c> about</c><00:42:48.090><c> is</c><00:42:48.540><c> data</c>

00:42:48.860 --> 00:42:48.870 align:start position:0%
level which we'll talk about is data
 

00:42:48.870 --> 00:42:54.410 align:start position:0%
level which we'll talk about is data
availability<00:42:50.510><c> which</c><00:42:51.510><c> is</c><00:42:51.630><c> basically</c><00:42:53.420><c> checking</c>

00:42:54.410 --> 00:42:54.420 align:start position:0%
availability which is basically checking
 

00:42:54.420 --> 00:42:56.630 align:start position:0%
availability which is basically checking
I<00:42:54.780><c> guess</c><00:42:55.320><c> that's</c><00:42:55.650><c> kind</c><00:42:55.920><c> of</c><00:42:56.100><c> coupled</c><00:42:56.490><c> with</c>

00:42:56.630 --> 00:42:56.640 align:start position:0%
I guess that's kind of coupled with
 

00:42:56.640 --> 00:43:01.910 align:start position:0%
I guess that's kind of coupled with
checking<00:42:57.480><c> well</c><00:42:57.720><c> is</c><00:42:57.870><c> he</c><00:42:57.990><c> checking</c><00:42:58.980><c> that</c><00:43:00.560><c> is</c><00:43:01.560><c> all</c>

00:43:01.910 --> 00:43:01.920 align:start position:0%
checking well is he checking that is all
 

00:43:01.920 --> 00:43:05.410 align:start position:0%
checking well is he checking that is all
the<00:43:02.160><c> block</c><00:43:02.340><c> data</c><00:43:02.550><c> is</c><00:43:02.760><c> actually</c><00:43:02.940><c> available</c><00:43:03.180><c> for</c>

00:43:05.410 --> 00:43:05.420 align:start position:0%
the block data is actually available for
 

00:43:05.420 --> 00:43:08.840 align:start position:0%
the block data is actually available for
a<00:43:06.420><c> verification</c><00:43:06.660><c> and</c><00:43:07.620><c> this</c><00:43:08.370><c> can</c><00:43:08.580><c> be</c><00:43:08.700><c> actually</c>

00:43:08.840 --> 00:43:08.850 align:start position:0%
a verification and this can be actually
 

00:43:08.850 --> 00:43:10.820 align:start position:0%
a verification and this can be actually
done<00:43:09.180><c> as</c><00:43:09.360><c> alternative</c><00:43:09.960><c> sustainability</c>

00:43:10.820 --> 00:43:10.830 align:start position:0%
done as alternative sustainability
 

00:43:10.830 --> 00:43:13.820 align:start position:0%
done as alternative sustainability
instead<00:43:11.700><c> of</c><00:43:11.790><c> checking</c><00:43:12.500><c> it's</c><00:43:13.500><c> not</c><00:43:13.620><c> checking</c>

00:43:13.820 --> 00:43:13.830 align:start position:0%
instead of checking it's not checking
 

00:43:13.830 --> 00:43:16.250 align:start position:0%
instead of checking it's not checking
that<00:43:14.070><c> the</c><00:43:14.190><c> state</c><00:43:14.370><c> is</c><00:43:14.490><c> correct</c><00:43:14.820><c> yourself</c><00:43:15.420><c> this</c>

00:43:16.250 --> 00:43:16.260 align:start position:0%
that the state is correct yourself this
 

00:43:16.260 --> 00:43:18.020 align:start position:0%
that the state is correct yourself this
is<00:43:16.410><c> assume</c><00:43:16.950><c> that</c><00:43:17.130><c> I</c><00:43:17.190><c> see</c><00:43:17.340><c> is</c><00:43:17.460><c> correct</c>

00:43:18.020 --> 00:43:18.030 align:start position:0%
is assume that I see is correct
 

00:43:18.030 --> 00:43:22.480 align:start position:0%
is assume that I see is correct
and<00:43:19.020><c> rely</c><00:43:19.350><c> on</c><00:43:19.380><c> something</c><00:43:19.860><c> called</c><00:43:19.980><c> flood</c><00:43:20.280><c> proof</c>

00:43:22.480 --> 00:43:22.490 align:start position:0%
and rely on something called flood proof
 

00:43:22.490 --> 00:43:26.420 align:start position:0%
and rely on something called flood proof
do<00:43:23.490><c> you</c><00:43:23.580><c> tell</c><00:43:23.810><c> people</c><00:43:24.810><c> generated</c><00:43:25.620><c> if</c><00:43:26.190><c> the</c>

00:43:26.420 --> 00:43:26.430 align:start position:0%
do you tell people generated if the
 

00:43:26.430 --> 00:43:28.310 align:start position:0%
do you tell people generated if the
stick<00:43:26.670><c> is</c><00:43:26.700><c> incorrect</c><00:43:27.210><c> so</c><00:43:27.660><c> they</c><00:43:27.810><c> can</c><00:43:27.960><c> prove</c><00:43:28.140><c> to</c>

00:43:28.310 --> 00:43:28.320 align:start position:0%
stick is incorrect so they can prove to
 

00:43:28.320 --> 00:43:31.070 align:start position:0%
stick is incorrect so they can prove to
you<00:43:28.590><c> that</c><00:43:28.620><c> the</c><00:43:28.770><c> city's</c><00:43:29.040><c> incorrect</c><00:43:29.720><c> so</c><00:43:30.720><c> I'm</c>

00:43:31.070 --> 00:43:31.080 align:start position:0%
you that the city's incorrect so I'm
 

00:43:31.080 --> 00:43:33.890 align:start position:0%
you that the city's incorrect so I'm
normally<00:43:31.290><c> not</c><00:43:31.740><c> use</c><00:43:32.730><c> a</c><00:43:32.850><c> like</c><00:43:33.060><c> a</c><00:43:33.090><c> guilty</c><00:43:33.360><c> until</c>

00:43:33.890 --> 00:43:33.900 align:start position:0%
normally not use a like a guilty until
 

00:43:33.900 --> 00:43:36.680 align:start position:0%
normally not use a like a guilty until
proven<00:43:34.080><c> is</c><00:43:34.500><c> a</c><00:43:34.590><c> model</c><00:43:34.890><c> where</c><00:43:35.100><c> you</c><00:43:35.540><c> achieve</c><00:43:36.540><c> that</c>

00:43:36.680 --> 00:43:36.690 align:start position:0%
proven is a model where you achieve that
 

00:43:36.690 --> 00:43:38.840 align:start position:0%
proven is a model where you achieve that
every<00:43:36.930><c> block</c><00:43:37.110><c> is</c><00:43:37.740><c> incorrect</c><00:43:38.400><c> as</c><00:43:38.580><c> where</c><00:43:38.730><c> you</c>

00:43:38.840 --> 00:43:38.850 align:start position:0%
every block is incorrect as where you
 

00:43:38.850 --> 00:43:39.580 align:start position:0%
every block is incorrect as where you
prove<00:43:39.240><c> otherwise</c>

00:43:39.580 --> 00:43:39.590 align:start position:0%
prove otherwise
 

00:43:39.590 --> 00:43:42.050 align:start position:0%
prove otherwise
whereas<00:43:40.590><c> for</c><00:43:40.890><c> previous</c><00:43:41.340><c> user</c><00:43:41.610><c> in</c><00:43:41.820><c> a</c><00:43:41.880><c> sense</c>

00:43:42.050 --> 00:43:42.060 align:start position:0%
whereas for previous user in a sense
 

00:43:42.060 --> 00:43:51.800 align:start position:0%
whereas for previous user in a sense
about<00:43:42.210><c> proven</c><00:43:42.540><c> guilty</c><00:43:42.570><c> and</c><00:43:50.480><c> yeah</c><00:43:51.480><c> the</c><00:43:51.630><c> green</c>

00:43:51.800 --> 00:43:51.810 align:start position:0%
about proven guilty and yeah the green
 

00:43:51.810 --> 00:43:53.420 align:start position:0%
about proven guilty and yeah the green
stuff<00:43:52.050><c> is</c><00:43:52.290><c> basically</c><00:43:52.620><c> what</c><00:43:52.800><c> my</c><00:43:52.950><c> plans</c><00:43:53.250><c> are</c>

00:43:53.420 --> 00:43:53.430 align:start position:0%
stuff is basically what my plans are
 

00:43:53.430 --> 00:43:55.640 align:start position:0%
stuff is basically what my plans are
this<00:43:53.550><c> degree</c><00:43:53.820><c> clarity</c><00:43:54.350><c> and</c><00:43:55.350><c> which</c><00:43:55.500><c> you'll</c><00:43:55.620><c> be</c>

00:43:55.640 --> 00:43:55.650 align:start position:0%
this degree clarity and which you'll be
 

00:43:55.650 --> 00:44:00.120 align:start position:0%
this degree clarity and which you'll be
relevant<00:43:55.950><c> to</c><00:43:56.250><c> their</c><00:43:57.180><c> top</c><00:43:57.540><c> and</c>

00:44:00.120 --> 00:44:00.130 align:start position:0%
 
 

00:44:00.130 --> 00:44:03.430 align:start position:0%
 
the<00:44:01.130><c> other</c><00:44:01.339><c> is</c><00:44:01.760><c> Oliver</c><00:44:02.000><c> African</c><00:44:02.440><c> descent</c>

00:44:03.430 --> 00:44:03.440 align:start position:0%
the other is Oliver African descent
 

00:44:03.440 --> 00:44:05.170 align:start position:0%
the other is Oliver African descent
direct<00:44:03.950><c> observation</c><00:44:04.460><c> you</c><00:44:04.640><c> run</c><00:44:04.760><c> a</c><00:44:04.790><c> full</c><00:44:05.030><c> know</c>

00:44:05.170 --> 00:44:05.180 align:start position:0%
direct observation you run a full know
 

00:44:05.180 --> 00:44:08.079 align:start position:0%
direct observation you run a full know
yourself<00:44:05.570><c> sexy</c><00:44:06.430><c> chick</c><00:44:07.430><c> predators</c><00:44:07.849><c> give</c><00:44:08.000><c> the</c>

00:44:08.079 --> 00:44:08.089 align:start position:0%
yourself sexy chick predators give the
 

00:44:08.089 --> 00:44:12.339 align:start position:0%
yourself sexy chick predators give the
change<00:44:10.450><c> Watchtower</c><00:44:11.450><c> so</c><00:44:11.720><c> you</c><00:44:11.839><c> can</c><00:44:11.960><c> then</c><00:44:12.170><c> ask</c>

00:44:12.339 --> 00:44:12.349 align:start position:0%
change Watchtower so you can then ask
 

00:44:12.349 --> 00:44:15.430 align:start position:0%
change Watchtower so you can then ask
ask<00:44:12.830><c> someone</c><00:44:13.609><c> to</c><00:44:14.359><c> run</c><00:44:14.750><c> a</c><00:44:14.780><c> full</c><00:44:15.050><c> note</c><00:44:15.200><c> on</c><00:44:15.349><c> your</c>

00:44:15.430 --> 00:44:15.440 align:start position:0%
ask someone to run a full note on your
 

00:44:15.440 --> 00:44:17.980 align:start position:0%
ask someone to run a full note on your
behalf<00:44:15.710><c> as</c><00:44:16.040><c> a</c><00:44:16.820><c> full</c><00:44:17.089><c> battle</c><00:44:17.270><c> if</c><00:44:17.390><c> you</c><00:44:17.480><c> fail</c><00:44:17.720><c> I'd</c>

00:44:17.980 --> 00:44:17.990 align:start position:0%
behalf as a full battle if you fail I'd
 

00:44:17.990 --> 00:44:19.930 align:start position:0%
behalf as a full battle if you fail I'd
like<00:44:18.290><c> this</c><00:44:18.500><c> they</c><00:44:18.740><c> say</c><00:44:18.950><c> ways</c><00:44:19.250><c> to</c><00:44:19.430><c> do</c><00:44:19.580><c> this</c><00:44:19.760><c> does</c>

00:44:19.930 --> 00:44:19.940 align:start position:0%
like this they say ways to do this does
 

00:44:19.940 --> 00:44:22.599 align:start position:0%
like this they say ways to do this does
not<00:44:20.089><c> that</c><00:44:20.300><c> does</c><00:44:20.359><c> not</c><00:44:20.630><c> require</c><00:44:21.280><c> trusting</c><00:44:22.280><c> at</c>

00:44:22.599 --> 00:44:22.609 align:start position:0%
not that does not require trusting at
 

00:44:22.609 --> 00:44:28.240 align:start position:0%
not that does not require trusting at
work<00:44:22.790><c> shower</c><00:44:26.230><c> or</c><00:44:27.230><c> just</c><00:44:27.260><c> simply</c><00:44:27.650><c> record</c><00:44:27.950><c> narrow</c>

00:44:28.240 --> 00:44:28.250 align:start position:0%
work shower or just simply record narrow
 

00:44:28.250 --> 00:44:31.570 align:start position:0%
work shower or just simply record narrow
just<00:44:28.730><c> if</c><00:44:28.910><c> we</c><00:44:29.060><c> trust</c><00:44:29.330><c> someone</c>

00:44:31.570 --> 00:44:31.580 align:start position:0%
 
 

00:44:31.580 --> 00:44:35.200 align:start position:0%
 
oh<00:44:31.690><c> this</c><00:44:32.690><c> verification</c><00:44:33.589><c> games</c><00:44:34.070><c> so</c><00:44:34.849><c> what</c><00:44:35.060><c> so</c>

00:44:35.200 --> 00:44:35.210 align:start position:0%
oh this verification games so what so
 

00:44:35.210 --> 00:44:37.450 align:start position:0%
oh this verification games so what so
presently<00:44:35.599><c> like</c><00:44:35.839><c> tribute</c><00:44:36.260><c> to</c><00:44:36.470><c> these</c><00:44:37.339><c> the</c>

00:44:37.450 --> 00:44:37.460 align:start position:0%
presently like tribute to these the
 

00:44:37.460 --> 00:44:41.880 align:start position:0%
presently like tribute to these the
computation<00:44:37.970><c> happens</c><00:44:38.119><c> off</c><00:44:38.450><c> chain</c><00:44:40.030><c> but</c><00:44:41.030><c> if</c><00:44:41.270><c> if</c>

00:44:41.880 --> 00:44:41.890 align:start position:0%
computation happens off chain but if if
 

00:44:41.890 --> 00:44:44.650 align:start position:0%
computation happens off chain but if if
the<00:44:42.890><c> execution</c><00:44:43.400><c> is</c><00:44:43.550><c> correct</c><00:44:43.849><c> you</c><00:44:44.630><c> can</c>

00:44:44.650 --> 00:44:44.660 align:start position:0%
the execution is correct you can
 

00:44:44.660 --> 00:44:46.810 align:start position:0%
the execution is correct you can
challenge<00:44:45.140><c> the</c><00:44:45.349><c> execution</c><00:44:45.859><c> result</c><00:44:46.190><c> or</c><00:44:46.580><c> chain</c>

00:44:46.810 --> 00:44:46.820 align:start position:0%
challenge the execution result or chain
 

00:44:46.820 --> 00:44:48.700 align:start position:0%
challenge the execution result or chain
and<00:44:47.060><c> there's</c><00:44:47.810><c> like</c><00:44:47.930><c> an</c><00:44:48.050><c> interactive</c><00:44:48.320><c> game</c>

00:44:48.700 --> 00:44:48.710 align:start position:0%
and there's like an interactive game
 

00:44:48.710 --> 00:44:51.839 align:start position:0%
and there's like an interactive game
that<00:44:49.190><c> is</c><00:44:49.310><c> stated</c><00:44:49.640><c> to</c><00:44:50.080><c> challenges</c><00:44:51.080><c> our</c>

00:44:51.839 --> 00:44:51.849 align:start position:0%
that is stated to challenges our
 

00:44:51.849 --> 00:44:56.710 align:start position:0%
that is stated to challenges our
verification<00:44:52.849><c> result</c><00:44:53.420><c> and</c><00:44:55.570><c> basically</c><00:44:56.570><c> the</c>

00:44:56.710 --> 00:44:56.720 align:start position:0%
verification result and basically the
 

00:44:56.720 --> 00:44:58.510 align:start position:0%
verification result and basically the
best<00:44:56.900><c> news</c><00:44:57.080><c> to</c><00:44:57.170><c> me</c><00:44:57.290><c> that</c><00:44:57.530><c> I've</c><00:44:57.619><c> had</c><00:44:57.770><c> told</c><00:44:58.220><c> to</c>

00:44:58.510 --> 00:44:58.520 align:start position:0%
best news to me that I've had told to
 

00:44:58.520 --> 00:45:05.980 align:start position:0%
best news to me that I've had told to
reduce<00:44:58.760><c> the</c><00:44:58.880><c> money</c><00:45:00.460><c> okay</c><00:45:03.580><c> so</c><00:45:04.580><c> into</c><00:45:05.570><c> a</c><00:45:05.630><c> really</c>

00:45:05.980 --> 00:45:05.990 align:start position:0%
reduce the money okay so into a really
 

00:45:05.990 --> 00:45:07.270 align:start position:0%
reduce the money okay so into a really
good<00:45:06.260><c> technical</c><00:45:06.560><c> deep</c><00:45:06.830><c> them</c><00:45:06.980><c> into</c>

00:45:07.270 --> 00:45:07.280 align:start position:0%
good technical deep them into
 

00:45:07.280 --> 00:45:08.950 align:start position:0%
good technical deep them into
Chamberlain's<00:45:07.760><c> which</c><00:45:08.119><c> is</c><00:45:08.300><c> relevant</c><00:45:08.630><c> for</c><00:45:08.900><c> the</c>

00:45:08.950 --> 00:45:08.960 align:start position:0%
Chamberlain's which is relevant for the
 

00:45:08.960 --> 00:45:10.750 align:start position:0%
Chamberlain's which is relevant for the
practical<00:45:09.470><c> part</c><00:45:09.619><c> and</c><00:45:09.830><c> then</c><00:45:09.950><c> since</c><00:45:10.640><c> then</c>

00:45:10.750 --> 00:45:10.760 align:start position:0%
practical part and then since then
 

00:45:10.760 --> 00:45:12.040 align:start position:0%
practical part and then since then
everyone<00:45:10.970><c> has</c><00:45:11.150><c> a</c><00:45:11.180><c> laugh</c><00:45:11.330><c> that</c><00:45:11.359><c> I</c><00:45:11.570><c> suggest</c><00:45:11.900><c> we</c>

00:45:12.040 --> 00:45:12.050 align:start position:0%
everyone has a laugh that I suggest we
 

00:45:12.050 --> 00:45:14.140 align:start position:0%
everyone has a laugh that I suggest we
split<00:45:12.230><c> the</c><00:45:12.589><c> room</c><00:45:12.740><c> so</c><00:45:13.430><c> wondering</c><00:45:13.790><c> can</c><00:45:13.970><c> do</c><00:45:14.060><c> the</c>

00:45:14.140 --> 00:45:14.150 align:start position:0%
split the room so wondering can do the
 

00:45:14.150 --> 00:45:15.820 align:start position:0%
split the room so wondering can do the
corium<00:45:14.480><c> sample</c><00:45:14.869><c> will</c><00:45:14.990><c> also</c><00:45:15.320><c> provide</c><00:45:15.619><c> this</c>

00:45:15.820 --> 00:45:15.830 align:start position:0%
corium sample will also provide this
 

00:45:15.830 --> 00:45:18.070 align:start position:0%
corium sample will also provide this
align<00:45:16.220><c> the</c><00:45:16.430><c> afterwards</c><00:45:16.910><c> so</c><00:45:17.540><c> we</c><00:45:17.570><c> have</c><00:45:17.720><c> to</c><00:45:17.839><c> prep</c>

00:45:18.070 --> 00:45:18.080 align:start position:0%
align the afterwards so we have to prep
 

00:45:18.080 --> 00:45:19.390 align:start position:0%
align the afterwards so we have to prep
the<00:45:18.230><c> serve</c><00:45:18.410><c> and</c><00:45:18.560><c> everything</c><00:45:18.859><c> will</c><00:45:19.040><c> have</c><00:45:19.160><c> a</c><00:45:19.190><c> UI</c>

00:45:19.390 --> 00:45:19.400 align:start position:0%
the serve and everything will have a UI
 

00:45:19.400 --> 00:45:21.730 align:start position:0%
the serve and everything will have a UI
and<00:45:19.670><c> you</c><00:45:19.760><c> can</c><00:45:19.940><c> play</c><00:45:20.510><c> the</c><00:45:20.660><c> game</c><00:45:20.810><c> later</c><00:45:21.320><c> on</c><00:45:21.410><c> so</c>

00:45:21.730 --> 00:45:21.740 align:start position:0%
and you can play the game later on so
 

00:45:21.740 --> 00:45:23.740 align:start position:0%
and you can play the game later on so
we'll<00:45:21.859><c> make</c><00:45:21.950><c> it</c><00:45:22.040><c> a</c><00:45:22.130><c> game</c><00:45:22.640><c> and</c><00:45:23.060><c> then</c><00:45:23.390><c> in</c><00:45:23.630><c> the</c>

00:45:23.740 --> 00:45:23.750 align:start position:0%
we'll make it a game and then in the
 

00:45:23.750 --> 00:45:24.849 align:start position:0%
we'll make it a game and then in the
other<00:45:23.839><c> side</c><00:45:24.140><c> if</c><00:45:24.410><c> you</c><00:45:24.470><c> have</c><00:45:24.589><c> any</c><00:45:24.740><c> more</c>

00:45:24.849 --> 00:45:24.859 align:start position:0%
other side if you have any more
 

00:45:24.859 --> 00:45:26.170 align:start position:0%
other side if you have any more
questions<00:45:24.980><c> ones</c><00:45:25.490><c> are</c><00:45:25.580><c> dispersed</c><00:45:25.880><c> we</c><00:45:26.030><c> have</c>

00:45:26.170 --> 00:45:26.180 align:start position:0%
questions ones are dispersed we have
 

00:45:26.180 --> 00:45:30.880 align:start position:0%
questions ones are dispersed we have
okay<00:45:27.550><c> so</c><00:45:28.550><c> but</c><00:45:29.119><c> let's</c><00:45:29.810><c> do</c><00:45:29.960><c> a</c><00:45:29.990><c> five</c><00:45:30.530><c> minutes</c>

00:45:30.880 --> 00:45:30.890 align:start position:0%
okay so but let's do a five minutes
 

00:45:30.890 --> 00:45:32.589 align:start position:0%
okay so but let's do a five minutes
because<00:45:31.190><c> that's</c><00:45:31.520><c> kind</c><00:45:31.849><c> of</c><00:45:31.910><c> relevant</c><00:45:32.119><c> Fred</c>

00:45:32.589 --> 00:45:32.599 align:start position:0%
because that's kind of relevant Fred
 

00:45:32.599 --> 00:45:34.900 align:start position:0%
because that's kind of relevant Fred
even<00:45:33.080><c> if</c><00:45:33.349><c> you're</c><00:45:33.470><c> not</c><00:45:33.619><c> spending</c><00:45:34.280><c> today</c>

00:45:34.900 --> 00:45:34.910 align:start position:0%
even if you're not spending today
 

00:45:34.910 --> 00:45:37.510 align:start position:0%
even if you're not spending today
so<00:45:35.599><c> I</c><00:45:35.869><c> mentioned</c><00:45:36.140><c> genuine</c><00:45:36.950><c> lays</c><00:45:37.070><c> are</c>

00:45:37.510 --> 00:45:37.520 align:start position:0%
so I mentioned genuine lays are
 

00:45:37.520 --> 00:45:39.520 align:start position:0%
so I mentioned genuine lays are
basically<00:45:38.359><c> to</c><00:45:38.599><c> be</c><00:45:38.720><c> quite</c><00:45:38.960><c> right</c><00:45:39.260><c> so</c><00:45:39.410><c> the</c>

00:45:39.520 --> 00:45:39.530 align:start position:0%
basically to be quite right so the
 

00:45:39.530 --> 00:45:41.260 align:start position:0%
basically to be quite right so the
allowance<00:45:39.890><c> verify</c><00:45:40.310><c> the</c><00:45:40.369><c> state</c><00:45:40.760><c> the</c><00:45:41.060><c> state</c>

00:45:41.260 --> 00:45:41.270 align:start position:0%
allowance verify the state the state
 

00:45:41.270 --> 00:45:42.520 align:start position:0%
allowance verify the state the state
agreement<00:45:41.630><c> estate</c><00:45:41.900><c> volusia</c>

00:45:42.520 --> 00:45:42.530 align:start position:0%
agreement estate volusia
 

00:45:42.530 --> 00:45:44.770 align:start position:0%
agreement estate volusia
of<00:45:42.680><c> another</c><00:45:42.980><c> budget</c><00:45:43.190><c> now</c><00:45:43.910><c> state</c><00:45:44.240><c> can</c><00:45:44.450><c> also</c><00:45:44.600><c> be</c>

00:45:44.770 --> 00:45:44.780 align:start position:0%
of another budget now state can also be
 

00:45:44.780 --> 00:45:45.880 align:start position:0%
of another budget now state can also be
considered<00:45:45.200><c> as</c><00:45:45.320><c> a</c><00:45:45.350><c> part</c><00:45:45.410><c> six</c><00:45:45.770><c> in</c>

00:45:45.880 --> 00:45:45.890 align:start position:0%
considered as a part six in
 

00:45:45.890 --> 00:45:47.260 align:start position:0%
considered as a part six in
transactional<00:45:46.400><c> data</c><00:45:46.700><c> right</c><00:45:46.820><c> you</c><00:45:46.910><c> just</c><00:45:47.060><c> know</c>

00:45:47.260 --> 00:45:47.270 align:start position:0%
transactional data right you just know
 

00:45:47.270 --> 00:45:48.610 align:start position:0%
transactional data right you just know
well<00:45:47.450><c> you</c><00:45:47.570><c> can</c><00:45:47.720><c> parse</c><00:45:47.960><c> the</c><00:45:48.110><c> data</c><00:45:48.140><c> of</c><00:45:48.410><c> a</c><00:45:48.470><c> big</c>

00:45:48.610 --> 00:45:48.620 align:start position:0%
well you can parse the data of a big
 

00:45:48.620 --> 00:45:50.290 align:start position:0%
well you can parse the data of a big
transaction<00:45:49.040><c> but</c><00:45:49.640><c> you've</c><00:45:49.760><c> no</c><00:45:49.910><c> clue</c><00:45:50.120><c> where</c>

00:45:50.290 --> 00:45:50.300 align:start position:0%
transaction but you've no clue where
 

00:45:50.300 --> 00:45:53.010 align:start position:0%
transaction but you've no clue where
it's<00:45:50.420><c> actually</c><00:45:50.600><c> included</c><00:45:51.200><c> or</c><00:45:51.440><c> even</c><00:45:51.860><c> yeah</c><00:45:52.250><c> just</c>

00:45:53.010 --> 00:45:53.020 align:start position:0%
it's actually included or even yeah just
 

00:45:53.020 --> 00:45:57.460 align:start position:0%
it's actually included or even yeah just
now<00:45:54.790><c> the</c><00:45:55.790><c> thing</c><00:45:55.970><c> is</c><00:45:56.000><c> when</c><00:45:56.510><c> SP</c><00:45:56.870><c> declines</c><00:45:57.260><c> and</c>

00:45:57.460 --> 00:45:57.470 align:start position:0%
now the thing is when SP declines and
 

00:45:57.470 --> 00:45:58.840 align:start position:0%
now the thing is when SP declines and
that's<00:45:57.590><c> a</c><00:45:57.710><c> kind</c><00:45:57.830><c> of</c><00:45:57.920><c> a</c><00:45:58.040><c> problem</c><00:45:58.220><c> because</c><00:45:58.370><c> it's</c>

00:45:58.840 --> 00:45:58.850 align:start position:0%
that's a kind of a problem because it's
 

00:45:58.850 --> 00:46:01.840 align:start position:0%
that's a kind of a problem because it's
not<00:45:58.910><c> really</c><00:45:59.210><c> been</c><00:45:59.360><c> defined</c><00:45:59.750><c> in</c><00:46:00.760><c> practice</c><00:46:01.760><c> I</c>

00:46:01.840 --> 00:46:01.850 align:start position:0%
not really been defined in practice I
 

00:46:01.850 --> 00:46:03.580 align:start position:0%
not really been defined in practice I
mean<00:46:01.880><c> you</c><00:46:02.120><c> have</c><00:46:02.270><c> a</c><00:46:02.300><c> lot</c><00:46:02.570><c> of</c><00:46:02.630><c> formal</c><00:46:03.200><c> frameworks</c>

00:46:03.580 --> 00:46:03.590 align:start position:0%
mean you have a lot of formal frameworks
 

00:46:03.590 --> 00:46:05.590 align:start position:0%
mean you have a lot of formal frameworks
for<00:46:03.740><c> this</c><00:46:03.860><c> now</c><00:46:04.040><c> the</c><00:46:04.100><c> back</c><00:46:04.370><c> for</c><00:46:04.580><c> model</c><00:46:04.910><c> but</c><00:46:05.570><c> I</c>

00:46:05.590 --> 00:46:05.600 align:start position:0%
for this now the back for model but I
 

00:46:05.600 --> 00:46:07.930 align:start position:0%
for this now the back for model but I
have<00:46:05.750><c> not</c><00:46:05.900><c> really</c><00:46:06.200><c> seen</c><00:46:06.410><c> a</c><00:46:06.710><c> lot</c><00:46:06.950><c> of</c><00:46:07.100><c> clear</c>

00:46:07.930 --> 00:46:07.940 align:start position:0%
have not really seen a lot of clear
 

00:46:07.940 --> 00:46:09.400 align:start position:0%
have not really seen a lot of clear
definitions<00:46:08.540><c> of</c><00:46:08.660><c> what</c><00:46:08.750><c> has</c><00:46:08.900><c> to</c><00:46:09.050><c> be</c><00:46:09.080><c> planned</c>

00:46:09.400 --> 00:46:09.410 align:start position:0%
definitions of what has to be planned
 

00:46:09.410 --> 00:46:10.780 align:start position:0%
definitions of what has to be planned
should<00:46:09.590><c> we</c><00:46:09.680><c> mean</c><00:46:09.830><c> basically</c><00:46:10.160><c> everyone</c><00:46:10.580><c> knows</c>

00:46:10.780 --> 00:46:10.790 align:start position:0%
should we mean basically everyone knows
 

00:46:10.790 --> 00:46:13.900 align:start position:0%
should we mean basically everyone knows
but<00:46:11.680><c> then</c><00:46:12.680><c> we</c><00:46:13.010><c> don't</c><00:46:13.160><c> really</c><00:46:13.370><c> write</c><00:46:13.670><c> a</c><00:46:13.700><c> plan</c>

00:46:13.900 --> 00:46:13.910 align:start position:0%
but then we don't really write a plan
 

00:46:13.910 --> 00:46:16.060 align:start position:0%
but then we don't really write a plan
but<00:46:14.480><c> if</c><00:46:14.600><c> we</c><00:46:14.750><c> build</c><00:46:15.020><c> a</c><00:46:15.140><c> study</c><00:46:15.500><c> plan</c><00:46:15.650><c> that's</c><00:46:15.950><c> when</c>

00:46:16.060 --> 00:46:16.070 align:start position:0%
but if we build a study plan that's when
 

00:46:16.070 --> 00:46:17.200 align:start position:0%
but if we build a study plan that's when
we<00:46:16.160><c> actually</c><00:46:16.280><c> not</c><00:46:16.490><c> start</c><00:46:16.700><c> to</c><00:46:16.760><c> think</c><00:46:16.970><c> about</c><00:46:17.030><c> it</c>

00:46:17.200 --> 00:46:17.210 align:start position:0%
we actually not start to think about it
 

00:46:17.210 --> 00:46:18.970 align:start position:0%
we actually not start to think about it
so<00:46:17.420><c> what</c><00:46:17.570><c> do</c><00:46:17.660><c> we</c><00:46:17.690><c> need</c><00:46:17.840><c> to</c><00:46:17.960><c> verify</c><00:46:18.140><c> and</c><00:46:18.740><c> the</c>

00:46:18.970 --> 00:46:18.980 align:start position:0%
so what do we need to verify and the
 

00:46:18.980 --> 00:46:20.830 align:start position:0%
so what do we need to verify and the
first<00:46:19.220><c> thing</c><00:46:19.430><c> is</c><00:46:19.550><c> we</c><00:46:19.700><c> need</c><00:46:19.790><c> to</c><00:46:19.940><c> be</c><00:46:20.090><c> aware</c><00:46:20.180><c> of</c>

00:46:20.830 --> 00:46:20.840 align:start position:0%
first thing is we need to be aware of
 

00:46:20.840 --> 00:46:22.570 align:start position:0%
first thing is we need to be aware of
the<00:46:20.960><c> difficulty</c><00:46:21.440><c> just</c><00:46:21.680><c> because</c><00:46:22.340><c> otherwise</c>

00:46:22.570 --> 00:46:22.580 align:start position:0%
the difficulty just because otherwise
 

00:46:22.580 --> 00:46:24.340 align:start position:0%
the difficulty just because otherwise
since<00:46:23.450><c> we</c><00:46:23.630><c> know</c><00:46:23.750><c> that</c><00:46:23.930><c> bit</c><00:46:24.110><c> where</c><00:46:24.290><c> the</c>

00:46:24.340 --> 00:46:24.350 align:start position:0%
since we know that bit where the
 

00:46:24.350 --> 00:46:26.560 align:start position:0%
since we know that bit where the
difficulty<00:46:24.740><c> is</c><00:46:25.190><c> switched</c><00:46:25.490><c> every</c><00:46:25.760><c> 2016</c><00:46:26.390><c> blocks</c>

00:46:26.560 --> 00:46:26.570 align:start position:0%
difficulty is switched every 2016 blocks
 

00:46:26.570 --> 00:46:28.390 align:start position:0%
difficulty is switched every 2016 blocks
and<00:46:26.780><c> experiments</c><00:46:27.200><c> different</c><00:46:27.530><c> but</c><00:46:28.040><c> we</c><00:46:28.160><c> need</c><00:46:28.280><c> to</c>

00:46:28.390 --> 00:46:28.400 align:start position:0%
and experiments different but we need to
 

00:46:28.400 --> 00:46:30.100 align:start position:0%
and experiments different but we need to
make<00:46:28.520><c> sure</c><00:46:28.670><c> that</c><00:46:28.790><c> our</c><00:46:29.060><c> Chamberlain</c><00:46:29.630><c> program</c>

00:46:30.100 --> 00:46:30.110 align:start position:0%
make sure that our Chamberlain program
 

00:46:30.110 --> 00:46:31.780 align:start position:0%
make sure that our Chamberlain program
knows<00:46:30.320><c> what</c><00:46:30.590><c> the</c><00:46:30.710><c> difficulty</c><00:46:31.160><c> is</c><00:46:31.250><c> expected</c><00:46:31.730><c> at</c>

00:46:31.780 --> 00:46:31.790 align:start position:0%
knows what the difficulty is expected at
 

00:46:31.790 --> 00:46:33.130 align:start position:0%
knows what the difficulty is expected at
this<00:46:31.910><c> point</c><00:46:32.150><c> in</c><00:46:32.240><c> time</c><00:46:32.420><c> otherwise</c><00:46:32.660><c> I</c><00:46:32.930><c> could</c>

00:46:33.130 --> 00:46:33.140 align:start position:0%
this point in time otherwise I could
 

00:46:33.140 --> 00:46:35.740 align:start position:0%
this point in time otherwise I could
submit<00:46:33.380><c> flops</c><00:46:33.860><c> which</c><00:46:34.100><c> are</c><00:46:34.250><c> too</c><00:46:34.340><c> easy</c><00:46:34.660><c> next</c><00:46:35.660><c> we</c>

00:46:35.740 --> 00:46:35.750 align:start position:0%
submit flops which are too easy next we
 

00:46:35.750 --> 00:46:37.750 align:start position:0%
submit flops which are too easy next we
have<00:46:35.840><c> to</c><00:46:35.930><c> verify</c><00:46:36.110><c> that</c><00:46:36.260><c> before</c><00:46:36.680><c> that's</c><00:46:37.370><c> clear</c>

00:46:37.750 --> 00:46:37.760 align:start position:0%
have to verify that before that's clear
 

00:46:37.760 --> 00:46:40.030 align:start position:0%
have to verify that before that's clear
we<00:46:38.390><c> have</c><00:46:38.510><c> to</c><00:46:38.660><c> check</c><00:46:39.020><c> that</c><00:46:39.080><c> each</c><00:46:39.500><c> block</c><00:46:39.710><c> that</c><00:46:39.950><c> we</c>

00:46:40.030 --> 00:46:40.040 align:start position:0%
we have to check that each block that we
 

00:46:40.040 --> 00:46:41.680 align:start position:0%
we have to check that each block that we
submit<00:46:40.280><c> is</c><00:46:40.370><c> an</c><00:46:40.460><c> ancestor</c><00:46:41.030><c> but</c><00:46:41.300><c> because</c><00:46:41.600><c> they</c>

00:46:41.680 --> 00:46:41.690 align:start position:0%
submit is an ancestor but because they
 

00:46:41.690 --> 00:46:43.660 align:start position:0%
submit is an ancestor but because they
want<00:46:41.840><c> to</c><00:46:41.900><c> make</c><00:46:42.050><c> sure</c><00:46:42.080><c> it's</c><00:46:42.320><c> a</c><00:46:42.380><c> chain</c><00:46:42.620><c> then</c><00:46:43.550><c> we</c>

00:46:43.660 --> 00:46:43.670 align:start position:0%
want to make sure it's a chain then we
 

00:46:43.670 --> 00:46:45.400 align:start position:0%
want to make sure it's a chain then we
also<00:46:43.850><c> have</c><00:46:44.090><c> to</c><00:46:44.240><c> make</c><00:46:44.390><c> sure</c><00:46:44.510><c> we</c><00:46:44.630><c> can</c><00:46:44.810><c> detect</c><00:46:45.170><c> its</c>

00:46:45.400 --> 00:46:45.410 align:start position:0%
also have to make sure we can detect its
 

00:46:45.410 --> 00:46:47.260 align:start position:0%
also have to make sure we can detect its
forms<00:46:45.800><c> right</c><00:46:46.040><c> we</c><00:46:46.190><c> need</c><00:46:46.280><c> to</c><00:46:46.460><c> know</c><00:46:46.640><c> if</c><00:46:46.940><c> we</c><00:46:47.120><c> have</c>

00:46:47.260 --> 00:46:47.270 align:start position:0%
forms right we need to know if we have
 

00:46:47.270 --> 00:46:49.120 align:start position:0%
forms right we need to know if we have
two<00:46:47.570><c> chains</c><00:46:47.870><c> which</c><00:46:48.260><c> one</c><00:46:48.470><c> is</c><00:46:48.620><c> the</c><00:46:48.740><c> main</c><00:46:48.890><c> chain</c>

00:46:49.120 --> 00:46:49.130 align:start position:0%
two chains which one is the main chain
 

00:46:49.130 --> 00:46:51.760 align:start position:0%
two chains which one is the main chain
which<00:46:49.400><c> is</c><00:46:49.430><c> the</c><00:46:49.670><c> shorter</c><00:46:50.030><c> and</c><00:46:50.500><c> finally</c><00:46:51.500><c> we</c><00:46:51.620><c> also</c>

00:46:51.760 --> 00:46:51.770 align:start position:0%
which is the shorter and finally we also
 

00:46:51.770 --> 00:46:52.960 align:start position:0%
which is the shorter and finally we also
want<00:46:52.040><c> to</c><00:46:52.100><c> make</c><00:46:52.250><c> sure</c><00:46:52.310><c> that</c><00:46:52.520><c> we</c><00:46:52.640><c> can</c><00:46:52.790><c> check</c>

00:46:52.960 --> 00:46:52.970 align:start position:0%
want to make sure that we can check
 

00:46:52.970 --> 00:46:54.220 align:start position:0%
want to make sure that we can check
transaction<00:46:53.450><c> including</c><00:46:53.540><c> proofs</c><00:46:53.990><c> because</c>

00:46:54.220 --> 00:46:54.230 align:start position:0%
transaction including proofs because
 

00:46:54.230 --> 00:46:55.510 align:start position:0%
transaction including proofs because
that's<00:46:54.410><c> actual</c><00:46:54.890><c> thing</c><00:46:55.040><c> that</c><00:46:55.070><c> you</c><00:46:55.280><c> want</c><00:46:55.430><c> to</c>

00:46:55.510 --> 00:46:55.520 align:start position:0%
that's actual thing that you want to
 

00:46:55.520 --> 00:46:57.130 align:start position:0%
that's actual thing that you want to
achieve<00:46:55.580><c> when</c><00:46:55.850><c> you</c><00:46:55.880><c> do</c><00:46:56.060><c> a</c><00:46:56.090><c> Spivey</c><00:46:56.450><c> point</c><00:46:56.480><c> you</c>

00:46:57.130 --> 00:46:57.140 align:start position:0%
achieve when you do a Spivey point you
 

00:46:57.140 --> 00:46:58.540 align:start position:0%
achieve when you do a Spivey point you
want<00:46:57.320><c> to</c><00:46:57.350><c> know</c><00:46:57.470><c> if</c><00:46:57.590><c> the</c><00:46:57.650><c> transaction</c><00:46:57.920><c> existed</c>

00:46:58.540 --> 00:46:58.550 align:start position:0%
want to know if the transaction existed
 

00:46:58.550 --> 00:47:01.540 align:start position:0%
want to know if the transaction existed
for<00:46:59.180><c> you</c><00:46:59.330><c> accordingly</c><00:46:59.980><c> now</c><00:47:00.980><c> in</c><00:47:01.220><c> our</c><00:47:01.340><c> game</c>

00:47:01.540 --> 00:47:01.550 align:start position:0%
for you accordingly now in our game
 

00:47:01.550 --> 00:47:03.640 align:start position:0%
for you accordingly now in our game
today<00:47:01.760><c> we've</c><00:47:02.210><c> simplified</c><00:47:02.720><c> implementation</c>

00:47:03.640 --> 00:47:03.650 align:start position:0%
today we've simplified implementation
 

00:47:03.650 --> 00:47:05.620 align:start position:0%
today we've simplified implementation
we've<00:47:03.830><c> dropped</c><00:47:04.160><c> the</c><00:47:04.340><c> difficulty</c><00:47:05.330><c> just</c><00:47:05.480><c> for</c>

00:47:05.620 --> 00:47:05.630 align:start position:0%
we've dropped the difficulty just for
 

00:47:05.630 --> 00:47:07.300 align:start position:0%
we've dropped the difficulty just for
verification<00:47:05.840><c> and</c><00:47:06.530><c> would</c><00:47:06.860><c> remove</c><00:47:07.070><c> for</c>

00:47:07.300 --> 00:47:07.310 align:start position:0%
verification and would remove for
 

00:47:07.310 --> 00:47:08.980 align:start position:0%
verification and would remove for
account<00:47:07.550><c> otherwise</c><00:47:08.000><c> the</c><00:47:08.300><c> code</c><00:47:08.480><c> base</c><00:47:08.660><c> become</c>

00:47:08.980 --> 00:47:08.990 align:start position:0%
account otherwise the code base become
 

00:47:08.990 --> 00:47:11.890 align:start position:0%
account otherwise the code base become
stupid<00:47:09.200><c> so</c><00:47:10.040><c> we</c><00:47:10.520><c> assume</c><00:47:10.820><c> that</c><00:47:11.330><c> with</c><00:47:11.510><c> constant</c>

00:47:11.890 --> 00:47:11.900 align:start position:0%
stupid so we assume that with constant
 

00:47:11.900 --> 00:47:13.540 align:start position:0%
stupid so we assume that with constant
difficult<00:47:12.260><c> deal</c><00:47:12.440><c> with</c><00:47:12.620><c> no</c><00:47:12.770><c> force</c><00:47:13.040><c> right</c><00:47:13.370><c> so</c>

00:47:13.540 --> 00:47:13.550 align:start position:0%
difficult deal with no force right so
 

00:47:13.550 --> 00:47:16.420 align:start position:0%
difficult deal with no force right so
simple<00:47:13.880><c> more</c><00:47:14.650><c> any</c><00:47:15.650><c> other</c><00:47:15.860><c> but</c><00:47:16.070><c> we</c><00:47:16.190><c> were</c><00:47:16.310><c> the</c>

00:47:16.420 --> 00:47:16.430 align:start position:0%
simple more any other but we were the
 

00:47:16.430 --> 00:47:19.170 align:start position:0%
simple more any other but we were the
tester<00:47:16.820><c> so</c><00:47:17.270><c> you</c><00:47:17.450><c> want</c><00:47:17.600><c> payment</c><00:47:17.930><c> to</c><00:47:17.990><c> printers</c>

00:47:19.170 --> 00:47:19.180 align:start position:0%
tester so you want payment to printers
 

00:47:19.180 --> 00:47:22.390 align:start position:0%
tester so you want payment to printers
so<00:47:20.180><c> a</c><00:47:20.480><c> question</c><00:47:21.050><c> that</c><00:47:21.260><c> people</c><00:47:21.590><c> often</c><00:47:21.950><c> ask</c><00:47:22.130><c> it</c>

00:47:22.390 --> 00:47:22.400 align:start position:0%
so a question that people often ask it
 

00:47:22.400 --> 00:47:24.040 align:start position:0%
so a question that people often ask it
what<00:47:22.550><c> what</c><00:47:22.700><c> what</c><00:47:23.060><c> happens</c><00:47:23.420><c> in</c><00:47:23.570><c> proof</c><00:47:23.720><c> of</c><00:47:23.840><c> state</c>

00:47:24.040 --> 00:47:24.050 align:start position:0%
what what what happens in proof of state
 

00:47:24.050 --> 00:47:26.020 align:start position:0%
what what what happens in proof of state
blocks<00:47:24.320><c> right</c><00:47:24.710><c> because</c><00:47:25.010><c> it</c><00:47:25.100><c> seems</c><00:47:25.340><c> similar</c>

00:47:26.020 --> 00:47:26.030 align:start position:0%
blocks right because it seems similar
 

00:47:26.030 --> 00:47:28.030 align:start position:0%
blocks right because it seems similar
but<00:47:26.840><c> then</c><00:47:26.990><c> there's</c><00:47:27.200><c> a</c><00:47:27.260><c> there's</c><00:47:27.680><c> a</c><00:47:27.740><c> there's</c><00:47:27.890><c> a</c>

00:47:28.030 --> 00:47:28.040 align:start position:0%
but then there's a there's a there's a
 

00:47:28.040 --> 00:47:30.250 align:start position:0%
but then there's a there's a there's a
subtle<00:47:28.370><c> differences</c><00:47:28.930><c> instead</c><00:47:29.930><c> of</c><00:47:30.020><c> checking</c>

00:47:30.250 --> 00:47:30.260 align:start position:0%
subtle differences instead of checking
 

00:47:30.260 --> 00:47:32.680 align:start position:0%
subtle differences instead of checking
interacting<00:47:30.980><c> the</c><00:47:31.240><c> difficulty</c><00:47:32.240><c> adjustment</c>

00:47:32.680 --> 00:47:32.690 align:start position:0%
interacting the difficulty adjustment
 

00:47:32.690 --> 00:47:35.079 align:start position:0%
interacting the difficulty adjustment
you<00:47:33.170><c> need</c><00:47:33.350><c> to</c><00:47:33.500><c> track</c><00:47:33.860><c> the</c><00:47:34.040><c> state</c><00:47:34.250><c> distribution</c>

00:47:35.079 --> 00:47:35.089 align:start position:0%
you need to track the state distribution
 

00:47:35.089 --> 00:47:37.239 align:start position:0%
you need to track the state distribution
change<00:47:35.299><c> because</c><00:47:35.630><c> you</c><00:47:36.499><c> need</c><00:47:36.619><c> to</c><00:47:36.769><c> know</c><00:47:36.799><c> who</c><00:47:37.130><c> is</c>

00:47:37.239 --> 00:47:37.249 align:start position:0%
change because you need to know who is
 

00:47:37.249 --> 00:47:39.459 align:start position:0%
change because you need to know who is
allowed<00:47:37.519><c> to</c><00:47:37.759><c> sign</c><00:47:38.059><c> in</c><00:47:38.450><c> each</c><00:47:38.479><c> round</c><00:47:38.900><c> write</c><00:47:39.289><c> and</c>

00:47:39.459 --> 00:47:39.469 align:start position:0%
allowed to sign in each round write and
 

00:47:39.469 --> 00:47:41.109 align:start position:0%
allowed to sign in each round write and
perform<00:47:39.559><c> do</c><00:47:39.920><c> you</c><00:47:40.009><c> know</c><00:47:40.130><c> the</c><00:47:40.430><c> guy</c><00:47:40.609><c> who</c><00:47:40.670><c> found</c><00:47:41.029><c> it</c>

00:47:41.109 --> 00:47:41.119 align:start position:0%
perform do you know the guy who found it
 

00:47:41.119 --> 00:47:42.999 align:start position:0%
perform do you know the guy who found it
before<00:47:41.239><c> and</c><00:47:41.749><c> that</c><00:47:42.289><c> the</c><00:47:42.349><c> prefer</c><00:47:42.650><c> work</c><00:47:42.799><c> master</c>

00:47:42.999 --> 00:47:43.009 align:start position:0%
before and that the prefer work master
 

00:47:43.009 --> 00:47:44.950 align:start position:0%
before and that the prefer work master
difficulty<00:47:43.460><c> target</c><00:47:43.759><c> he's</c><00:47:43.969><c> the</c><00:47:44.119><c> one</c><00:47:44.269><c> from</c><00:47:44.839><c> us</c>

00:47:44.950 --> 00:47:44.960 align:start position:0%
difficulty target he's the one from us
 

00:47:44.960 --> 00:47:46.900 align:start position:0%
difficulty target he's the one from us
take<00:47:45.170><c> me</c><00:47:45.650><c> in</c><00:47:45.890><c> a</c><00:47:45.950><c> faculty</c><00:47:46.190><c> but</c><00:47:46.549><c> you</c><00:47:46.700><c> need</c><00:47:46.819><c> to</c>

00:47:46.900 --> 00:47:46.910 align:start position:0%
take me in a faculty but you need to
 

00:47:46.910 --> 00:47:49.079 align:start position:0%
take me in a faculty but you need to
know<00:47:47.059><c> what</c><00:47:47.239><c> are</c><00:47:47.660><c> they</c><00:47:47.869><c> the</c><00:47:47.930><c> ones</c><00:47:48.170><c> were</c>

00:47:49.079 --> 00:47:49.089 align:start position:0%
know what are they the ones were
 

00:47:49.089 --> 00:47:51.039 align:start position:0%
know what are they the ones were
satisfied<00:47:50.089><c> and</c><00:47:50.569><c> then</c><00:47:50.719><c> you</c><00:47:50.809><c> checked</c>

00:47:51.039 --> 00:47:51.049 align:start position:0%
satisfied and then you checked
 

00:47:51.049 --> 00:47:53.019 align:start position:0%
satisfied and then you checked
signatures<00:47:51.529><c> which</c><00:47:52.009><c> is</c><00:47:52.160><c> usually</c><00:47:52.489><c> efficient</c>

00:47:53.019 --> 00:47:53.029 align:start position:0%
signatures which is usually efficient
 

00:47:53.029 --> 00:47:55.809 align:start position:0%
signatures which is usually efficient
than<00:47:53.119><c> perfect</c><00:47:53.479><c> for</c><00:47:53.739><c> at</c><00:47:54.739><c> least</c><00:47:54.950><c> if</c><00:47:55.190><c> you</c><00:47:55.369><c> do</c><00:47:55.789><c> a</c>

00:47:55.809 --> 00:47:55.819 align:start position:0%
than perfect for at least if you do a
 

00:47:55.819 --> 00:47:58.450 align:start position:0%
than perfect for at least if you do a
cross<00:47:56.059><c> chain</c><00:47:56.559><c> and</c><00:47:57.559><c> the</c><00:47:57.650><c> rest</c><00:47:57.829><c> basically</c><00:47:58.249><c> stays</c>

00:47:58.450 --> 00:47:58.460 align:start position:0%
cross chain and the rest basically stays
 

00:47:58.460 --> 00:47:58.979 align:start position:0%
cross chain and the rest basically stays
the<00:47:58.609><c> same</c>

00:47:58.979 --> 00:47:58.989 align:start position:0%
the same
 

00:47:58.989 --> 00:48:01.870 align:start position:0%
the same
now<00:48:00.009><c> practical</c><00:48:01.009><c> challenges</c><00:48:01.430><c> that</c><00:48:01.579><c> we</c><00:48:01.700><c> face</c>

00:48:01.870 --> 00:48:01.880 align:start position:0%
now practical challenges that we face
 

00:48:01.880 --> 00:48:03.489 align:start position:0%
now practical challenges that we face
with<00:48:01.910><c> implementations</c><00:48:02.749><c> obviously</c><00:48:03.349><c> we</c><00:48:03.410><c> will</c>

00:48:03.489 --> 00:48:03.499 align:start position:0%
with implementations obviously we will
 

00:48:03.499 --> 00:48:04.390 align:start position:0%
with implementations obviously we will
need<00:48:03.619><c> to</c><00:48:03.739><c> make</c><00:48:03.890><c> sure</c><00:48:03.920><c> that</c><00:48:04.069><c> we</c><00:48:04.249><c> have</c><00:48:04.369><c> a</c>

00:48:04.390 --> 00:48:04.400 align:start position:0%
need to make sure that we have a
 

00:48:04.400 --> 00:48:05.769 align:start position:0%
need to make sure that we have a
cryptographic<00:48:04.729><c> primitives</c><00:48:05.329><c> there</c><00:48:05.509><c> so</c><00:48:05.690><c> we</c>

00:48:05.769 --> 00:48:05.779 align:start position:0%
cryptographic primitives there so we
 

00:48:05.779 --> 00:48:07.150 align:start position:0%
cryptographic primitives there so we
need<00:48:05.930><c> to</c><00:48:06.019><c> be</c><00:48:06.109><c> able</c><00:48:06.170><c> to</c><00:48:06.319><c> verify</c><00:48:06.589><c> that</c><00:48:06.799><c> before</c>

00:48:07.150 --> 00:48:07.160 align:start position:0%
need to be able to verify that before
 

00:48:07.160 --> 00:48:09.190 align:start position:0%
need to be able to verify that before
work<00:48:07.249><c> of</c><00:48:07.460><c> the</c><00:48:07.549><c> change</c><00:48:07.789><c> or</c><00:48:08.059><c> technique</c><00:48:08.420><c> right</c><00:48:08.989><c> so</c>

00:48:09.190 --> 00:48:09.200 align:start position:0%
work of the change or technique right so
 

00:48:09.200 --> 00:48:10.839 align:start position:0%
work of the change or technique right so
this<00:48:09.319><c> works</c><00:48:09.559><c> a</c><00:48:09.710><c> permit</c><00:48:10.009><c> to</c><00:48:10.130><c> go</c><00:48:10.219><c> in</c><00:48:10.309><c> on</c><00:48:10.400><c> etherium</c>

00:48:10.839 --> 00:48:10.849 align:start position:0%
this works a permit to go in on etherium
 

00:48:10.849 --> 00:48:12.849 align:start position:0%
this works a permit to go in on etherium
but<00:48:11.569><c> if</c><00:48:11.660><c> you</c><00:48:11.779><c> try</c><00:48:11.960><c> to</c><00:48:11.989><c> do</c><00:48:12.259><c> the</c><00:48:12.380><c> same</c><00:48:12.559><c> thing</c><00:48:12.769><c> for</c>

00:48:12.849 --> 00:48:12.859 align:start position:0%
but if you try to do the same thing for
 

00:48:12.859 --> 00:48:14.620 align:start position:0%
but if you try to do the same thing for
like<00:48:13.069><c> when</c><00:48:13.279><c> we</c><00:48:13.400><c> run</c><00:48:13.430><c> into</c><00:48:13.789><c> major</c><00:48:13.940><c> problems</c>

00:48:14.620 --> 00:48:14.630 align:start position:0%
like when we run into major problems
 

00:48:14.630 --> 00:48:17.799 align:start position:0%
like when we run into major problems
it<00:48:15.109><c> costs</c><00:48:15.529><c> around</c><00:48:15.650><c> 100</c><00:48:16.369><c> bucks</c><00:48:16.670><c> worth</c><00:48:17.539><c> of</c><00:48:17.690><c> a</c>

00:48:17.799 --> 00:48:17.809 align:start position:0%
it costs around 100 bucks worth of a
 

00:48:17.809 --> 00:48:20.380 align:start position:0%
it costs around 100 bucks worth of a
theorem<00:48:18.109><c> gas</c><00:48:18.289><c> to</c><00:48:18.469><c> verify</c><00:48:18.859><c> single</c><00:48:19.190><c> a</c><00:48:19.279><c> coma</c><00:48:19.670><c> so</c>

00:48:20.380 --> 00:48:20.390 align:start position:0%
theorem gas to verify single a coma so
 

00:48:20.390 --> 00:48:23.440 align:start position:0%
theorem gas to verify single a coma so
that<00:48:20.539><c> doesn't</c><00:48:20.749><c> really</c><00:48:20.900><c> work</c><00:48:21.229><c> and</c><00:48:22.029><c> then</c><00:48:23.029><c> you</c>

00:48:23.440 --> 00:48:23.450 align:start position:0%
that doesn't really work and then you
 

00:48:23.450 --> 00:48:25.059 align:start position:0%
that doesn't really work and then you
must<00:48:23.779><c> make</c><00:48:23.839><c> sure</c><00:48:23.989><c> that</c><00:48:24.259><c> your</c><00:48:24.469><c> chain</c><00:48:24.710><c> rule</c><00:48:24.859><c> is</c><00:48:24.950><c> a</c>

00:48:25.059 --> 00:48:25.069 align:start position:0%
must make sure that your chain rule is a
 

00:48:25.069 --> 00:48:26.799 align:start position:0%
must make sure that your chain rule is a
life<00:48:25.309><c> right</c><00:48:25.549><c> it's</c><00:48:25.729><c> a</c><00:48:25.789><c> single</c><00:48:26.089><c> SBB</c><00:48:26.450><c> client</c>

00:48:26.799 --> 00:48:26.809 align:start position:0%
life right it's a single SBB client
 

00:48:26.809 --> 00:48:28.239 align:start position:0%
life right it's a single SBB client
employed<00:48:27.109><c> in</c><00:48:27.229><c> the</c><00:48:27.319><c> chain</c><00:48:27.529><c> and</c><00:48:27.769><c> if</c><00:48:28.039><c> no</c><00:48:28.219><c> one</c>

00:48:28.239 --> 00:48:28.249 align:start position:0%
employed in the chain and if no one
 

00:48:28.249 --> 00:48:29.950 align:start position:0%
employed in the chain and if no one
provides<00:48:28.700><c> the</c><00:48:28.849><c> data</c><00:48:28.999><c> on</c><00:48:29.299><c> both</c><00:48:29.479><c> then</c><00:48:29.690><c> it's</c><00:48:29.869><c> not</c>

00:48:29.950 --> 00:48:29.960 align:start position:0%
provides the data on both then it's not
 

00:48:29.960 --> 00:48:32.140 align:start position:0%
provides the data on both then it's not
reducible<00:48:30.469><c> and</c><00:48:31.190><c> the</c><00:48:31.309><c> problem</c><00:48:31.670><c> is</c><00:48:31.789><c> we</c><00:48:31.969><c> know</c>

00:48:32.140 --> 00:48:32.150 align:start position:0%
reducible and the problem is we know
 

00:48:32.150 --> 00:48:34.209 align:start position:0%
reducible and the problem is we know
that<00:48:32.180><c> it</c><00:48:32.390><c> costs</c><00:48:32.719><c> us</c><00:48:32.960><c> money</c><00:48:33.170><c> to</c><00:48:33.499><c> submit</c><00:48:34.099><c> the</c>

00:48:34.209 --> 00:48:34.219 align:start position:0%
that it costs us money to submit the
 

00:48:34.219 --> 00:48:35.469 align:start position:0%
that it costs us money to submit the
blocks<00:48:34.460><c> to</c><00:48:34.640><c> the</c><00:48:34.789><c> chain</c><00:48:34.969><c> rule</c><00:48:35.119><c> or</c><00:48:35.180><c> the</c><00:48:35.269><c> theory</c>

00:48:35.469 --> 00:48:35.479 align:start position:0%
blocks to the chain rule or the theory
 

00:48:35.479 --> 00:48:37.539 align:start position:0%
blocks to the chain rule or the theory
when<00:48:35.660><c> you</c><00:48:35.749><c> have</c><00:48:35.839><c> to</c><00:48:35.900><c> pay</c><00:48:36.019><c> the</c><00:48:36.140><c> gas</c><00:48:36.259><c> costs</c><00:48:36.799><c> so</c><00:48:37.400><c> if</c>

00:48:37.539 --> 00:48:37.549 align:start position:0%
when you have to pay the gas costs so if
 

00:48:37.549 --> 00:48:39.609 align:start position:0%
when you have to pay the gas costs so if
you<00:48:37.670><c> come</c><00:48:37.849><c> along</c><00:48:37.999><c> to</c><00:48:38.509><c> the</c><00:48:38.599><c> BBC</c><00:48:38.869><c> relay</c><00:48:39.229><c> and</c><00:48:39.380><c> last</c>

00:48:39.609 --> 00:48:39.619 align:start position:0%
you come along to the BBC relay and last
 

00:48:39.619 --> 00:48:41.019 align:start position:0%
you come along to the BBC relay and last
time<00:48:39.799><c> I</c><00:48:39.890><c> checked</c><00:48:39.920><c> it</c><00:48:40.219><c> was</c><00:48:40.249><c> around</c><00:48:40.549><c> ninety</c>

00:48:41.019 --> 00:48:41.029 align:start position:0%
time I checked it was around ninety
 

00:48:41.029 --> 00:48:43.269 align:start position:0%
time I checked it was around ninety
thousand<00:48:41.479><c> blocks</c><00:48:41.690><c> planet</c><00:48:42.019><c> incoming</c><00:48:42.440><c> chain</c><00:48:42.650><c> so</c>

00:48:43.269 --> 00:48:43.279 align:start position:0%
thousand blocks planet incoming chain so
 

00:48:43.279 --> 00:48:44.559 align:start position:0%
thousand blocks planet incoming chain so
if<00:48:43.369><c> I</c><00:48:43.489><c> don't</c><00:48:43.670><c> want</c><00:48:43.819><c> to</c><00:48:43.910><c> use</c><00:48:44.029><c> the</c><00:48:44.210><c> original</c>

00:48:44.559 --> 00:48:44.569 align:start position:0%
if I don't want to use the original
 

00:48:44.569 --> 00:48:46.690 align:start position:0%
if I don't want to use the original
chain<00:48:44.779><c> rule</c><00:48:44.960><c> a</c><00:48:45.019><c> deployment</c><00:48:45.559><c> it's</c><00:48:46.400><c> already</c>

00:48:46.690 --> 00:48:46.700 align:start position:0%
chain rule a deployment it's already
 

00:48:46.700 --> 00:48:48.400 align:start position:0%
chain rule a deployment it's already
feasible<00:48:47.059><c> so</c><00:48:47.479><c> your</c><00:48:47.660><c> best</c><00:48:47.839><c> goal</c><00:48:48.079><c> is</c><00:48:48.259><c> to</c>

00:48:48.400 --> 00:48:48.410 align:start position:0%
feasible so your best goal is to
 

00:48:48.410 --> 00:48:50.259 align:start position:0%
feasible so your best goal is to
redeploy<00:48:48.710><c> agree</c><00:48:49.460><c> with</c><00:48:49.609><c> your</c><00:48:49.700><c> parties</c><00:48:50.089><c> that</c>

00:48:50.259 --> 00:48:50.269 align:start position:0%
redeploy agree with your parties that
 

00:48:50.269 --> 00:48:51.940 align:start position:0%
redeploy agree with your parties that
you<00:48:50.390><c> have</c><00:48:50.479><c> a</c><00:48:50.539><c> new</c><00:48:50.690><c> block</c><00:48:50.960><c> that</c><00:48:51.589><c> you're</c><00:48:51.769><c> aware</c>

00:48:51.940 --> 00:48:51.950 align:start position:0%
you have a new block that you're aware
 

00:48:51.950 --> 00:48:53.289 align:start position:0%
you have a new block that you're aware
of<00:48:52.130><c> and</c><00:48:52.309><c> then</c><00:48:52.400><c> you</c><00:48:52.460><c> start</c><00:48:52.759><c> submitting</c><00:48:52.910><c> again</c>

00:48:53.289 --> 00:48:53.299 align:start position:0%
of and then you start submitting again
 

00:48:53.299 --> 00:48:56.410 align:start position:0%
of and then you start submitting again
or<00:48:54.069><c> one</c><00:48:55.069><c> day</c><00:48:55.279><c> maybe</c><00:48:55.460><c> we'll</c><00:48:55.700><c> have</c><00:48:55.910><c> more</c>

00:48:56.410 --> 00:48:56.420 align:start position:0%
or one day maybe we'll have more
 

00:48:56.420 --> 00:48:58.329 align:start position:0%
or one day maybe we'll have more
efficient<00:48:56.989><c> light</c><00:48:57.109><c> clients</c><00:48:57.559><c> that</c><00:48:57.829><c> use</c><00:48:58.009><c> flight</c>

00:48:58.329 --> 00:48:58.339 align:start position:0%
efficient light clients that use flight
 

00:48:58.339 --> 00:49:00.249 align:start position:0%
efficient light clients that use flight
client<00:48:58.700><c> or</c><00:48:58.819><c> super</c><00:48:59.029><c> block</c><00:48:59.210><c> people</c><00:48:59.359><c> pause</c><00:48:59.630><c> we</c>

00:49:00.249 --> 00:49:00.259 align:start position:0%
client or super block people pause we
 

00:49:00.259 --> 00:49:01.660 align:start position:0%
client or super block people pause we
have<00:49:00.289><c> a</c><00:49:00.440><c> discussion</c><00:49:00.769><c> in</c><00:49:01.039><c> the</c><00:49:01.130><c> paper</c><00:49:01.309><c> and</c><00:49:01.549><c> we</c>

00:49:01.660 --> 00:49:01.670 align:start position:0%
have a discussion in the paper and we
 

00:49:01.670 --> 00:49:03.880 align:start position:0%
have a discussion in the paper and we
point<00:49:01.940><c> to</c><00:49:02.029><c> the</c><00:49:02.210><c> links</c><00:49:02.450><c> I</c><00:49:02.660><c> won't</c><00:49:03.289><c> go</c><00:49:03.440><c> to</c><00:49:03.499><c> detail</c>

00:49:03.880 --> 00:49:03.890 align:start position:0%
point to the links I won't go to detail
 

00:49:03.890 --> 00:49:07.959 align:start position:0%
point to the links I won't go to detail
them<00:49:04.009><c> because</c><00:49:04.420><c> yeah</c><00:49:05.619><c> so</c><00:49:06.619><c> yeah</c><00:49:07.039><c> we</c><00:49:07.400><c> actually</c><00:49:07.729><c> we</c>

00:49:07.959 --> 00:49:07.969 align:start position:0%
them because yeah so yeah we actually we
 

00:49:07.969 --> 00:49:09.190 align:start position:0%
them because yeah so yeah we actually we
looked<00:49:08.150><c> at</c><00:49:08.329><c> the</c><00:49:08.420><c> baby</c><00:49:08.569><c> silver</c><00:49:08.900><c> that</c><00:49:09.019><c> was</c>

00:49:09.190 --> 00:49:09.200 align:start position:0%
looked at the baby silver that was
 

00:49:09.200 --> 00:49:10.660 align:start position:0%
looked at the baby silver that was
deployed<00:49:09.469><c> originally</c><00:49:10.039><c> and</c><00:49:10.249><c> what</c><00:49:10.339><c> we</c><00:49:10.460><c> see</c><00:49:10.640><c> here</c>

00:49:10.660 --> 00:49:10.670 align:start position:0%
deployed originally and what we see here
 

00:49:10.670 --> 00:49:12.579 align:start position:0%
deployed originally and what we see here
is<00:49:11.089><c> that</c><00:49:11.329><c> there's</c><00:49:11.719><c> kind</c><00:49:12.109><c> of</c><00:49:12.170><c> a</c><00:49:12.259><c> discrepancy</c>

00:49:12.579 --> 00:49:12.589 align:start position:0%
is that there's kind of a discrepancy
 

00:49:12.589 --> 00:49:14.140 align:start position:0%
is that there's kind of a discrepancy
between<00:49:12.890><c> the</c><00:49:13.309><c> time</c><00:49:13.519><c> that</c><00:49:13.549><c> the</c><00:49:13.670><c> bits</c><00:49:13.880><c> per</c><00:49:13.969><c> month</c>

00:49:14.140 --> 00:49:14.150 align:start position:0%
between the time that the bits per month
 

00:49:14.150 --> 00:49:15.910 align:start position:0%
between the time that the bits per month
is<00:49:14.269><c> generated</c><00:49:14.630><c> and</c><00:49:14.749><c> where</c><00:49:15.079><c> the</c><00:49:15.229><c> rice</c><00:49:15.380><c> may</c><00:49:15.799><c> have</c>

00:49:15.910 --> 00:49:15.920 align:start position:0%
is generated and where the rice may have
 

00:49:15.920 --> 00:49:17.289 align:start position:0%
is generated and where the rice may have
arrived<00:49:16.160><c> in</c><00:49:16.279><c> the</c><00:49:16.460><c> ethereal</c><00:49:16.819><c> blockchain</c>

00:49:17.289 --> 00:49:17.299 align:start position:0%
arrived in the ethereal blockchain
 

00:49:17.299 --> 00:49:19.839 align:start position:0%
arrived in the ethereal blockchain
channeling<00:49:17.989><c> and</c><00:49:18.140><c> if</c><00:49:18.799><c> we</c><00:49:18.859><c> take</c><00:49:18.950><c> a</c><00:49:19.009><c> closer</c><00:49:19.309><c> look</c>

00:49:19.839 --> 00:49:19.849 align:start position:0%
channeling and if we take a closer look
 

00:49:19.849 --> 00:49:21.910 align:start position:0%
channeling and if we take a closer look
I<00:49:19.880><c> mean</c><00:49:20.299><c> we</c><00:49:21.019><c> see</c><00:49:21.170><c> that</c><00:49:21.259><c> a</c><00:49:21.319><c> lot</c><00:49:21.440><c> of</c><00:49:21.529><c> clocks</c><00:49:21.769><c> will</c>

00:49:21.910 --> 00:49:21.920 align:start position:0%
I mean we see that a lot of clocks will
 

00:49:21.920 --> 00:49:23.950 align:start position:0%
I mean we see that a lot of clocks will
delay<00:49:22.130><c> around</c><00:49:22.460><c> 3000</c><00:49:23.119><c> hours</c><00:49:23.180><c> which</c><00:49:23.569><c> is</c><00:49:23.719><c> not</c>

00:49:23.950 --> 00:49:23.960 align:start position:0%
delay around 3000 hours which is not
 

00:49:23.960 --> 00:49:25.719 align:start position:0%
delay around 3000 hours which is not
really<00:49:24.229><c> practical</c><00:49:24.650><c> and</c><00:49:24.979><c> you'd</c><00:49:25.130><c> expect</c><00:49:25.519><c> six</c>

00:49:25.719 --> 00:49:25.729 align:start position:0%
really practical and you'd expect six
 

00:49:25.729 --> 00:49:27.430 align:start position:0%
really practical and you'd expect six
hours<00:49:25.940><c> to</c><00:49:26.119><c> be</c><00:49:26.239><c> late</c><00:49:26.450><c> or</c><00:49:26.660><c> maybe</c><00:49:26.779><c> ten</c><00:49:27.140><c> right</c>

00:49:27.430 --> 00:49:27.440 align:start position:0%
hours to be late or maybe ten right
 

00:49:27.440 --> 00:49:28.610 align:start position:0%
hours to be late or maybe ten right
because<00:49:27.739><c> we</c><00:49:27.829><c> for</c><00:49:28.069><c> information</c>

00:49:28.610 --> 00:49:28.620 align:start position:0%
because we for information
 

00:49:28.620 --> 00:49:30.890 align:start position:0%
because we for information
but<00:49:29.220><c> then</c><00:49:29.370><c> someone</c><00:49:29.850><c> should</c><00:49:29.970><c> push</c><00:49:30.180><c> it</c><00:49:30.210><c> so</c><00:49:30.810><c> the</c>

00:49:30.890 --> 00:49:30.900 align:start position:0%
but then someone should push it so the
 

00:49:30.900 --> 00:49:32.780 align:start position:0%
but then someone should push it so the
problem<00:49:31.230><c> the</c><00:49:31.350><c> problem</c><00:49:32.040><c> is</c><00:49:32.070><c> incentives</c><00:49:32.670><c> right</c>

00:49:32.780 --> 00:49:32.790 align:start position:0%
problem the problem is incentives right
 

00:49:32.790 --> 00:49:33.950 align:start position:0%
problem the problem is incentives right
someone<00:49:33.210><c> else</c><00:49:33.360><c> to</c><00:49:33.420><c> pay</c><00:49:33.600><c> please</c>

00:49:33.950 --> 00:49:33.960 align:start position:0%
someone else to pay please
 

00:49:33.960 --> 00:49:35.990 align:start position:0%
someone else to pay please
and<00:49:34.710><c> what</c><00:49:34.800><c> we</c><00:49:34.920><c> also</c><00:49:35.040><c> saw</c><00:49:35.400><c> that</c><00:49:35.430><c> only</c><00:49:35.700><c> two</c>

00:49:35.990 --> 00:49:36.000 align:start position:0%
and what we also saw that only two
 

00:49:36.000 --> 00:49:38.300 align:start position:0%
and what we also saw that only two
addresses<00:49:36.240><c> submitted</c><00:49:36.930><c> more</c><00:49:37.380><c> than</c><00:49:37.530><c> 90%</c><00:49:37.740><c> of</c><00:49:38.070><c> Lux</c>

00:49:38.300 --> 00:49:38.310 align:start position:0%
addresses submitted more than 90% of Lux
 

00:49:38.310 --> 00:49:40.520 align:start position:0%
addresses submitted more than 90% of Lux
so<00:49:38.880><c> the</c><00:49:39.000><c> essentially</c><00:49:39.390><c> this</c><00:49:39.510><c> was</c><00:49:39.750><c> consensus</c>

00:49:40.520 --> 00:49:40.530 align:start position:0%
so the essentially this was consensus
 

00:49:40.530 --> 00:49:42.560 align:start position:0%
so the essentially this was consensus
running<00:49:40.800><c> the</c><00:49:40.890><c> business</c><00:49:41.100><c> early</c><00:49:41.450><c> but</c><00:49:42.450><c> in</c>

00:49:42.560 --> 00:49:42.570 align:start position:0%
running the business early but in
 

00:49:42.570 --> 00:49:44.090 align:start position:0%
running the business early but in
practice<00:49:42.960><c> would</c><00:49:43.140><c> if</c><00:49:43.500><c> you</c><00:49:43.860><c> have</c><00:49:43.980><c> an</c>

00:49:44.090 --> 00:49:44.100 align:start position:0%
practice would if you have an
 

00:49:44.100 --> 00:49:45.380 align:start position:0%
practice would if you have an
application<00:49:44.250><c> you</c><00:49:44.760><c> need</c><00:49:44.880><c> to</c><00:49:45.000><c> make</c><00:49:45.150><c> sure</c><00:49:45.180><c> you</c>

00:49:45.380 --> 00:49:45.390 align:start position:0%
application you need to make sure you
 

00:49:45.390 --> 00:49:46.550 align:start position:0%
application you need to make sure you
separate<00:49:45.750><c> split</c><00:49:46.020><c> the</c><00:49:46.170><c> fees</c><00:49:46.320><c> among</c>

00:49:46.550 --> 00:49:46.560 align:start position:0%
separate split the fees among
 

00:49:46.560 --> 00:49:47.180 align:start position:0%
separate split the fees among
participants

00:49:47.180 --> 00:49:47.190 align:start position:0%
participants
 

00:49:47.190 --> 00:49:48.740 align:start position:0%
participants
otherwise<00:49:47.550><c> you</c><00:49:48.030><c> may</c><00:49:48.180><c> have</c><00:49:48.300><c> incentive</c>

00:49:48.740 --> 00:49:48.750 align:start position:0%
otherwise you may have incentive
 

00:49:48.750 --> 00:49:50.540 align:start position:0%
otherwise you may have incentive
problems<00:49:49.110><c> and</c><00:49:49.590><c> if</c><00:49:49.680><c> the</c><00:49:49.770><c> channel</c><00:49:50.070><c> is</c><00:49:50.160><c> not</c><00:49:50.310><c> up</c><00:49:50.430><c> to</c>

00:49:50.540 --> 00:49:50.550 align:start position:0%
problems and if the channel is not up to
 

00:49:50.550 --> 00:49:52.250 align:start position:0%
problems and if the channel is not up to
date<00:49:50.640><c> is</c><00:49:50.820><c> not</c><00:49:50.940><c> news</c><00:49:51.120><c> and</c><00:49:51.540><c> you</c><00:49:51.660><c> run</c><00:49:51.840><c> into</c><00:49:51.960><c> the</c>

00:49:52.250 --> 00:49:52.260 align:start position:0%
date is not news and you run into the
 

00:49:52.260 --> 00:49:54.080 align:start position:0%
date is not news and you run into the
problem<00:49:52.410><c> that</c><00:49:52.800><c> you</c><00:49:53.220><c> can't</c><00:49:53.490><c> submit</c><00:49:53.700><c> the</c><00:49:53.850><c> proofs</c>

00:49:54.080 --> 00:49:54.090 align:start position:0%
problem that you can't submit the proofs
 

00:49:54.090 --> 00:49:57.500 align:start position:0%
problem that you can't submit the proofs
and<00:49:54.620><c> yeah</c><00:49:55.620><c> unfortunately</c><00:49:55.800><c> it's</c><00:49:56.400><c> not</c><00:49:56.700><c> that</c><00:49:56.850><c> so</c>

00:49:57.500 --> 00:49:57.510 align:start position:0%
and yeah unfortunately it's not that so
 

00:49:57.510 --> 00:49:58.580 align:start position:0%
and yeah unfortunately it's not that so
the<00:49:57.750><c> regional</c><00:49:57.990><c> minis</c><00:49:58.260><c> say</c><00:49:58.380><c> that</c><00:49:58.500><c> the</c>

00:49:58.580 --> 00:49:58.590 align:start position:0%
the regional minis say that the
 

00:49:58.590 --> 00:50:00.400 align:start position:0%
the regional minis say that the
implementation<00:49:59.250><c> is</c><00:49:59.760><c> not</c><00:49:59.790><c> normal</c><00:50:00.240><c> running</c>

00:50:00.400 --> 00:50:00.410 align:start position:0%
implementation is not normal running
 

00:50:00.410 --> 00:50:03.290 align:start position:0%
implementation is not normal running
their<00:50:01.410><c> implementations</c><00:50:02.310><c> by</c><00:50:02.640><c> Summa</c><00:50:03.030><c> so</c><00:50:03.180><c> they</c>

00:50:03.290 --> 00:50:03.300 align:start position:0%
their implementations by Summa so they
 

00:50:03.300 --> 00:50:04.640 align:start position:0%
their implementations by Summa so they
have<00:50:03.390><c> a</c><00:50:03.420><c> nice</c><00:50:03.540><c> library</c><00:50:04.020><c> will</c><00:50:04.200><c> also</c><00:50:04.320><c> done</c>

00:50:04.640 --> 00:50:04.650 align:start position:0%
have a nice library will also done
 

00:50:04.650 --> 00:50:06.440 align:start position:0%
have a nice library will also done
around<00:50:04.950><c> communication</c><00:50:05.700><c> so</c><00:50:05.910><c> there</c><00:50:06.150><c> you</c><00:50:06.300><c> kind</c>

00:50:06.440 --> 00:50:06.450 align:start position:0%
around communication so there you kind
 

00:50:06.450 --> 00:50:08.390 align:start position:0%
around communication so there you kind
of<00:50:06.540><c> a</c><00:50:06.600><c> deployed</c><00:50:06.930><c> if</c><00:50:07.080><c> you</c><00:50:07.170><c> need</c><00:50:07.290><c> to</c><00:50:07.410><c> use</c><00:50:07.530><c> it</c><00:50:07.680><c> but</c>

00:50:08.390 --> 00:50:08.400 align:start position:0%
of a deployed if you need to use it but
 

00:50:08.400 --> 00:50:10.340 align:start position:0%
of a deployed if you need to use it but
the<00:50:08.670><c> original</c><00:50:08.820><c> one</c><00:50:09.240><c> is</c><00:50:09.420><c> unfortunately</c>

00:50:10.340 --> 00:50:10.350 align:start position:0%
the original one is unfortunately
 

00:50:10.350 --> 00:50:11.770 align:start position:0%
the original one is unfortunately
definitely<00:50:10.770><c> in</c><00:50:10.980><c> sirs</c>

00:50:11.770 --> 00:50:11.780 align:start position:0%
definitely in sirs
 

00:50:11.780 --> 00:50:15.110 align:start position:0%
definitely in sirs
so<00:50:12.780><c> yeah</c><00:50:13.050><c> finally</c><00:50:13.680><c> the</c><00:50:14.100><c> cost</c><00:50:14.280><c> factor</c><00:50:14.760><c> right</c><00:50:14.940><c> so</c>

00:50:15.110 --> 00:50:15.120 align:start position:0%
so yeah finally the cost factor right so
 

00:50:15.120 --> 00:50:16.670 align:start position:0%
so yeah finally the cost factor right so
we<00:50:15.210><c> need</c><00:50:15.330><c> to</c><00:50:15.510><c> pay</c><00:50:15.750><c> for</c><00:50:15.780><c> submitting</c><00:50:16.380><c> the</c><00:50:16.410><c> blocks</c>

00:50:16.670 --> 00:50:16.680 align:start position:0%
we need to pay for submitting the blocks
 

00:50:16.680 --> 00:50:18.710 align:start position:0%
we need to pay for submitting the blocks
and<00:50:17.100><c> we</c><00:50:17.520><c> need</c><00:50:17.670><c> to</c><00:50:17.820><c> do</c><00:50:17.940><c> is</c><00:50:18.090><c> we</c><00:50:18.240><c> need</c><00:50:18.330><c> to</c><00:50:18.390><c> pay</c><00:50:18.690><c> for</c>

00:50:18.710 --> 00:50:18.720 align:start position:0%
and we need to do is we need to pay for
 

00:50:18.720 --> 00:50:20.570 align:start position:0%
and we need to do is we need to pay for
each<00:50:19.080><c> block</c><00:50:19.380><c> to</c><00:50:19.410><c> be</c><00:50:19.650><c> pushed</c><00:50:19.920><c> to</c><00:50:20.100><c> the</c><00:50:20.130><c> business</c>

00:50:20.570 --> 00:50:20.580 align:start position:0%
each block to be pushed to the business
 

00:50:20.580 --> 00:50:22.910 align:start position:0%
each block to be pushed to the business
unit<00:50:20.970><c> I</c><00:50:21.210><c> mean</c><00:50:21.450><c> the</c><00:50:21.780><c> cost</c><00:50:22.200><c> thing</c><00:50:22.440><c> is</c><00:50:22.590><c> the</c><00:50:22.710><c> same</c>

00:50:22.910 --> 00:50:22.920 align:start position:0%
unit I mean the cost thing is the same
 

00:50:22.920 --> 00:50:24.860 align:start position:0%
unit I mean the cost thing is the same
for<00:50:23.100><c> us</c><00:50:23.160><c> to</c><00:50:23.280><c> be</c><00:50:23.400><c> clients</c><00:50:23.820><c> except</c><00:50:24.600><c> that</c><00:50:24.720><c> if</c><00:50:24.840><c> you</c>

00:50:24.860 --> 00:50:24.870 align:start position:0%
for us to be clients except that if you
 

00:50:24.870 --> 00:50:26.600 align:start position:0%
for us to be clients except that if you
use<00:50:25.230><c> your</c><00:50:25.380><c> phone</c><00:50:25.620><c> you</c><00:50:25.800><c> can</c><00:50:26.040><c> then</c><00:50:26.190><c> delete</c><00:50:26.340><c> the</c>

00:50:26.600 --> 00:50:26.610 align:start position:0%
use your phone you can then delete the
 

00:50:26.610 --> 00:50:28.040 align:start position:0%
use your phone you can then delete the
data<00:50:26.790><c> the</c><00:50:27.090><c> blocks</c><00:50:27.300><c> right</c><00:50:27.420><c> if</c><00:50:27.690><c> you</c><00:50:27.750><c> don't</c><00:50:27.930><c> need</c>

00:50:28.040 --> 00:50:28.050 align:start position:0%
data the blocks right if you don't need
 

00:50:28.050 --> 00:50:28.550 align:start position:0%
data the blocks right if you don't need
them<00:50:28.170><c> anymore</c>

00:50:28.550 --> 00:50:28.560 align:start position:0%
them anymore
 

00:50:28.560 --> 00:50:30.710 align:start position:0%
them anymore
and<00:50:28.980><c> the</c><00:50:29.610><c> costing</c><00:50:30.000><c> model</c><00:50:30.270><c> is</c><00:50:30.360><c> different</c>

00:50:30.710 --> 00:50:30.720 align:start position:0%
and the costing model is different
 

00:50:30.720 --> 00:50:32.270 align:start position:0%
and the costing model is different
storage<00:50:31.080><c> is</c><00:50:31.290><c> not</c><00:50:31.440><c> that</c><00:50:31.590><c> expensive</c><00:50:31.800><c> on</c><00:50:32.190><c> your</c>

00:50:32.270 --> 00:50:32.280 align:start position:0%
storage is not that expensive on your
 

00:50:32.280 --> 00:50:33.920 align:start position:0%
storage is not that expensive on your
mobile<00:50:32.520><c> phone</c><00:50:32.730><c> but</c><00:50:32.940><c> it</c><00:50:33.030><c> is</c><00:50:33.150><c> very</c><00:50:33.270><c> expensive</c><00:50:33.840><c> if</c>

00:50:33.920 --> 00:50:33.930 align:start position:0%
mobile phone but it is very expensive if
 

00:50:33.930 --> 00:50:36.350 align:start position:0%
mobile phone but it is very expensive if
you<00:50:33.990><c> have</c><00:50:34.080><c> a</c><00:50:34.140><c> contract</c><00:50:34.440><c> or</c><00:50:34.740><c> anything</c><00:50:35.240><c> so</c><00:50:36.240><c> what</c>

00:50:36.350 --> 00:50:36.360 align:start position:0%
you have a contract or anything so what
 

00:50:36.360 --> 00:50:37.760 align:start position:0%
you have a contract or anything so what
you<00:50:36.450><c> can</c><00:50:36.630><c> do</c><00:50:36.750><c> then</c><00:50:37.020><c> is</c><00:50:37.050><c> you</c><00:50:37.200><c> can</c><00:50:37.470><c> try</c><00:50:37.710><c> to</c>

00:50:37.760 --> 00:50:37.770 align:start position:0%
you can do then is you can try to
 

00:50:37.770 --> 00:50:40.490 align:start position:0%
you can do then is you can try to
improve<00:50:38.190><c> improve</c><00:50:38.730><c> this</c><00:50:38.910><c> using</c><00:50:39.410><c> similar</c><00:50:40.410><c> new</c>

00:50:40.490 --> 00:50:40.500 align:start position:0%
improve improve this using similar new
 

00:50:40.500 --> 00:50:42.380 align:start position:0%
improve improve this using similar new
like<00:50:40.680><c> fine</c><00:50:40.890><c> techniques</c><00:50:41.280><c> but</c><00:50:41.820><c> this</c><00:50:41.970><c> requires</c>

00:50:42.380 --> 00:50:42.390 align:start position:0%
like fine techniques but this requires
 

00:50:42.390 --> 00:50:44.210 align:start position:0%
like fine techniques but this requires
changes<00:50:42.870><c> to</c><00:50:43.050><c> the</c><00:50:43.170><c> actual</c><00:50:43.500><c> blockchain</c><00:50:44.100><c> your</c>

00:50:44.210 --> 00:50:44.220 align:start position:0%
changes to the actual blockchain your
 

00:50:44.220 --> 00:50:46.550 align:start position:0%
changes to the actual blockchain your
very<00:50:44.370><c> funny</c><00:50:44.730><c> so</c><00:50:44.910><c> both</c><00:50:45.390><c> flight</c><00:50:45.750><c> plan</c><00:50:46.020><c> and</c><00:50:46.260><c> super</c>

00:50:46.550 --> 00:50:46.560 align:start position:0%
very funny so both flight plan and super
 

00:50:46.560 --> 00:50:48.140 align:start position:0%
very funny so both flight plan and super
block<00:50:46.710><c> people</c><00:50:47.010><c> Clause</c><00:50:47.160><c> which</c><00:50:47.460><c> I</c><00:50:47.670><c> would</c><00:50:48.090><c> have</c>

00:50:48.140 --> 00:50:48.150 align:start position:0%
block people Clause which I would have
 

00:50:48.150 --> 00:50:49.640 align:start position:0%
block people Clause which I would have
described<00:50:48.630><c> them</c><00:50:48.720><c> to</c><00:50:48.750><c> discuss</c><00:50:49.230><c> in</c><00:50:49.320><c> this</c><00:50:49.470><c> slide</c>

00:50:49.640 --> 00:50:49.650 align:start position:0%
described them to discuss in this slide
 

00:50:49.650 --> 00:50:51.320 align:start position:0%
described them to discuss in this slide
but<00:50:49.770><c> we</c><00:50:49.860><c> don't</c><00:50:50.040><c> have</c><00:50:50.160><c> time</c><00:50:50.340><c> but</c><00:50:51.180><c> they</c>

00:50:51.320 --> 00:50:51.330 align:start position:0%
but we don't have time but they
 

00:50:51.330 --> 00:50:53.570 align:start position:0%
but we don't have time but they
basically<00:50:51.720><c> allow</c><00:50:51.960><c> you</c><00:50:52.080><c> to</c><00:50:52.440><c> only</c><00:50:53.070><c> submit</c><00:50:53.550><c> a</c>

00:50:53.570 --> 00:50:53.580 align:start position:0%
basically allow you to only submit a
 

00:50:53.580 --> 00:50:55.130 align:start position:0%
basically allow you to only submit a
letter<00:50:53.730><c> with</c><00:50:54.000><c> logarithmic</c><00:50:54.510><c> amount</c><00:50:54.810><c> of</c><00:50:54.930><c> blocks</c>

00:50:55.130 --> 00:50:55.140 align:start position:0%
letter with logarithmic amount of blocks
 

00:50:55.140 --> 00:50:59.600 align:start position:0%
letter with logarithmic amount of blocks
instead<00:50:55.410><c> of</c><00:50:55.560><c> linear</c><00:50:56.360><c> but</c><00:50:57.360><c> yeah</c><00:50:58.340><c> another</c><00:50:59.340><c> maybe</c>

00:50:59.600 --> 00:50:59.610 align:start position:0%
instead of linear but yeah another maybe
 

00:50:59.610 --> 00:51:02.210 align:start position:0%
instead of linear but yeah another maybe
practical<00:51:00.210><c> challenge</c><00:51:00.660><c> is</c><00:51:00.870><c> that</c><00:51:01.230><c> if</c><00:51:01.560><c> we</c><00:51:01.830><c> want</c>

00:51:02.210 --> 00:51:02.220 align:start position:0%
practical challenge is that if we want
 

00:51:02.220 --> 00:51:03.950 align:start position:0%
practical challenge is that if we want
to<00:51:02.250><c> deploy</c><00:51:02.430><c> the</c><00:51:02.790><c> so</c><00:51:02.910><c> many</c><00:51:03.120><c> chains</c><00:51:03.420><c> for</c><00:51:03.810><c> that</c>

00:51:03.950 --> 00:51:03.960 align:start position:0%
to deploy the so many chains for that
 

00:51:03.960 --> 00:51:05.750 align:start position:0%
to deploy the so many chains for that
what<00:51:04.140><c> we</c><00:51:04.230><c> end</c><00:51:04.350><c> up</c><00:51:04.440><c> doing</c><00:51:04.500><c> is</c><00:51:04.830><c> we</c><00:51:04.890><c> submit</c><00:51:05.430><c> block</c>

00:51:05.750 --> 00:51:05.760 align:start position:0%
what we end up doing is we submit block
 

00:51:05.760 --> 00:51:08.210 align:start position:0%
what we end up doing is we submit block
headers<00:51:06.120><c> from</c><00:51:06.900><c> any</c><00:51:07.200><c> chains</c><00:51:07.530><c> that</c><00:51:07.770><c> we</c><00:51:07.890><c> want</c><00:51:08.190><c> to</c>

00:51:08.210 --> 00:51:08.220 align:start position:0%
headers from any chains that we want to
 

00:51:08.220 --> 00:51:10.100 align:start position:0%
headers from any chains that we want to
verify<00:51:08.370><c> to</c><00:51:08.730><c> any</c><00:51:09.090><c> change</c><00:51:09.390><c> that</c><00:51:09.570><c> were</c><00:51:09.660><c> verifying</c>

00:51:10.100 --> 00:51:10.110 align:start position:0%
verify to any change that were verifying
 

00:51:10.110 --> 00:51:12.110 align:start position:0%
verify to any change that were verifying
on<00:51:10.320><c> so</c><00:51:10.560><c> it</c><00:51:10.680><c> doesn't</c><00:51:10.710><c> it</c><00:51:11.160><c> seems</c><00:51:11.400><c> a</c><00:51:11.520><c> bit</c><00:51:11.700><c> kind</c><00:51:12.000><c> of</c>

00:51:12.110 --> 00:51:12.120 align:start position:0%
on so it doesn't it seems a bit kind of
 

00:51:12.120 --> 00:51:15.020 align:start position:0%
on so it doesn't it seems a bit kind of
a<00:51:12.270><c> problem</c><00:51:12.720><c> right</c><00:51:12.870><c> so</c><00:51:13.110><c> the</c><00:51:13.650><c> lungs</c><00:51:13.860><c> it's</c><00:51:14.730><c> a</c><00:51:14.850><c> long</c>

00:51:15.020 --> 00:51:15.030 align:start position:0%
a problem right so the lungs it's a long
 

00:51:15.030 --> 00:51:16.850 align:start position:0%
a problem right so the lungs it's a long
term<00:51:15.240><c> probably</c><00:51:16.020><c> want</c><00:51:16.230><c> to</c><00:51:16.320><c> find</c><00:51:16.500><c> out</c><00:51:16.680><c> how</c><00:51:16.800><c> we</c>

00:51:16.850 --> 00:51:16.860 align:start position:0%
term probably want to find out how we
 

00:51:16.860 --> 00:51:18.620 align:start position:0%
term probably want to find out how we
can<00:51:17.040><c> reduce</c><00:51:17.220><c> this</c><00:51:17.550><c> and</c><00:51:17.730><c> maybe</c><00:51:17.880><c> share</c><00:51:18.390><c> data</c>

00:51:18.620 --> 00:51:18.630 align:start position:0%
can reduce this and maybe share data
 

00:51:18.630 --> 00:51:19.230 align:start position:0%
can reduce this and maybe share data
across

00:51:19.230 --> 00:51:19.240 align:start position:0%
across
 

00:51:19.240 --> 00:51:22.440 align:start position:0%
across
no<00:51:19.420><c> chance</c><00:51:19.660><c> so</c><00:51:20.040><c> yeah</c><00:51:21.040><c> we</c><00:51:21.940><c> don't</c><00:51:22.060><c> cover</c>

00:51:22.440 --> 00:51:22.450 align:start position:0%
no chance so yeah we don't cover
 

00:51:22.450 --> 00:51:24.480 align:start position:0%
no chance so yeah we don't cover
everything<00:51:22.720><c> and</c><00:51:23.170><c> being</c><00:51:23.589><c> academics</c><00:51:24.099><c> we</c><00:51:24.310><c> just</c>

00:51:24.480 --> 00:51:24.490 align:start position:0%
everything and being academics we just
 

00:51:24.490 --> 00:51:26.010 align:start position:0%
everything and being academics we just
say<00:51:24.970><c> please</c><00:51:25.210><c> read</c><00:51:25.390><c> our</c><00:51:25.480><c> paper</c><00:51:25.720><c> for</c><00:51:25.839><c> anything</c>

00:51:26.010 --> 00:51:26.020 align:start position:0%
say please read our paper for anything
 

00:51:26.020 --> 00:51:27.900 align:start position:0%
say please read our paper for anything
else<00:51:26.260><c> we</c><00:51:26.530><c> discuss</c><00:51:26.859><c> locking</c><00:51:27.280><c> techniques</c><00:51:27.609><c> how</c>

00:51:27.900 --> 00:51:27.910 align:start position:0%
else we discuss locking techniques how
 

00:51:27.910 --> 00:51:30.960 align:start position:0%
else we discuss locking techniques how
to<00:51:27.940><c> achieve</c><00:51:28.150><c> atomicity</c><00:51:28.800><c> hdl-c</c><00:51:29.800><c> is</c><00:51:30.040><c> ECDSA</c><00:51:30.700><c> law</c>

00:51:30.960 --> 00:51:30.970 align:start position:0%
to achieve atomicity hdl-c is ECDSA law
 

00:51:30.970 --> 00:51:32.460 align:start position:0%
to achieve atomicity hdl-c is ECDSA law
epsilon<00:51:31.450><c> would</c><00:51:31.630><c> also</c><00:51:31.810><c> talk</c><00:51:32.109><c> about</c><00:51:32.140><c> the</c>

00:51:32.460 --> 00:51:32.470 align:start position:0%
epsilon would also talk about the
 

00:51:32.470 --> 00:51:34.170 align:start position:0%
epsilon would also talk about the
implications<00:51:33.010><c> for</c><00:51:33.099><c> privacy</c><00:51:33.460><c> security</c><00:51:33.790><c> and</c>

00:51:34.170 --> 00:51:34.180 align:start position:0%
implications for privacy security and
 

00:51:34.180 --> 00:51:36.270 align:start position:0%
implications for privacy security and
the<00:51:34.750><c> network</c><00:51:35.020><c> threat</c><00:51:35.200><c> models</c><00:51:35.560><c> so</c><00:51:36.070><c> when</c><00:51:36.220><c> you</c>

00:51:36.270 --> 00:51:36.280 align:start position:0%
the network threat models so when you
 

00:51:36.280 --> 00:51:37.829 align:start position:0%
the network threat models so when you
design<00:51:36.430><c> production</c><00:51:37.030><c> across</c><00:51:37.690><c> your</c>

00:51:37.829 --> 00:51:37.839 align:start position:0%
design production across your
 

00:51:37.839 --> 00:51:39.030 align:start position:0%
design production across your
communication<00:51:38.290><c> protocol</c><00:51:38.470><c> these</c><00:51:38.859><c> are</c><00:51:38.980><c> the</c>

00:51:39.030 --> 00:51:39.040 align:start position:0%
communication protocol these are the
 

00:51:39.040 --> 00:51:41.339 align:start position:0%
communication protocol these are the
things<00:51:39.220><c> they</c><00:51:39.310><c> must</c><00:51:39.490><c> consider</c><00:51:40.020><c> so</c><00:51:41.020><c> yeah</c><00:51:41.170><c> and</c>

00:51:41.339 --> 00:51:41.349 align:start position:0%
things they must consider so yeah and
 

00:51:41.349 --> 00:51:45.770 align:start position:0%
things they must consider so yeah and
now<00:51:41.830><c> to</c><00:51:41.890><c> the</c><00:51:42.369><c> practical</c><00:51:42.880><c> part</c><00:51:44.130><c> most</c><00:51:45.130><c> exciting</c>

00:51:45.770 --> 00:51:45.780 align:start position:0%
now to the practical part most exciting
 

00:51:45.780 --> 00:51:50.840 align:start position:0%
now to the practical part most exciting
we<00:51:46.780><c> will</c><00:51:46.810><c> release</c><00:51:47.380><c> them</c><00:51:47.530><c> at</c><00:51:47.619><c> some</c><00:51:47.800><c> point</c>

00:51:50.840 --> 00:51:50.850 align:start position:0%
 
 

00:51:50.850 --> 00:51:55.300 align:start position:0%
 
[Applause]