WEBVTT Kind: captions Language: en 00:00:09.190 --> 00:00:18.600 align:start position:0% [Music] 00:00:18.600 --> 00:00:18.610 align:start position:0% 00:00:18.610 --> 00:00:22.810 align:start position:0% so<00:00:19.610> good<00:00:19.910> evening 00:00:22.810 --> 00:00:22.820 align:start position:0% 00:00:22.820 --> 00:00:25.060 align:start position:0% so<00:00:23.150> I'm<00:00:23.540> Johnson<00:00:24.320> lead<00:00:24.560> developer<00:00:25.040> for 00:00:25.060 --> 00:00:25.070 align:start position:0% so I'm Johnson lead developer for 00:00:25.070 --> 00:00:27.250 align:start position:0% so I'm Johnson lead developer for earnest<00:00:25.730> and<00:00:26.090> I'm<00:00:26.540> here<00:00:26.720> to<00:00:26.810> tell<00:00:26.990> you<00:00:27.140> about 00:00:27.250 --> 00:00:27.260 align:start position:0% earnest and I'm here to tell you about 00:00:27.260 --> 00:00:29.080 align:start position:0% earnest and I'm here to tell you about what<00:00:27.920> we've<00:00:28.040> done<00:00:28.190> in<00:00:28.310> the<00:00:28.370> last<00:00:28.400> year<00:00:28.700> and 00:00:29.080 --> 00:00:29.090 align:start position:0% what we've done in the last year and 00:00:29.090 --> 00:00:32.040 align:start position:0% what we've done in the last year and what<00:00:29.630> our<00:00:29.750> plans<00:00:29.900> are<00:00:30.290> for<00:00:30.440> the<00:00:30.530> next<00:00:30.560> year<00:00:30.980> so 00:00:32.040 --> 00:00:32.050 align:start position:0% what our plans are for the next year so 00:00:32.050 --> 00:00:34.720 align:start position:0% what our plans are for the next year so ENS<00:00:33.050> launched<00:00:33.559> on<00:00:33.680> the<00:00:33.770> public<00:00:34.100> main<00:00:34.280> network 00:00:34.720 --> 00:00:34.730 align:start position:0% ENS launched on the public main network 00:00:34.730 --> 00:00:37.330 align:start position:0% ENS launched on the public main network on<00:00:35.420> May<00:00:35.810> the<00:00:35.840> fourth<00:00:36.170> as<00:00:36.410> in<00:00:36.800> may<00:00:36.980> the<00:00:37.130> fourth 00:00:37.330 --> 00:00:37.340 align:start position:0% on May the fourth as in may the fourth 00:00:37.340 --> 00:00:38.650 align:start position:0% on May the fourth as in may the fourth be<00:00:37.400> with<00:00:37.520> you 00:00:38.650 --> 00:00:38.660 align:start position:0% be with you 00:00:38.660 --> 00:00:41.350 align:start position:0% be with you it<00:00:39.170> had<00:00:39.620> an<00:00:39.770> eight<00:00:40.010> week<00:00:40.220> soft<00:00:40.610> launch<00:00:40.880> period 00:00:41.350 --> 00:00:41.360 align:start position:0% it had an eight week soft launch period 00:00:41.360 --> 00:00:43.450 align:start position:0% it had an eight week soft launch period during<00:00:41.690> which<00:00:41.989> we<00:00:42.230> gradually<00:00:42.829> released<00:00:43.130> names 00:00:43.450 --> 00:00:43.460 align:start position:0% during which we gradually released names 00:00:43.460 --> 00:00:45.930 align:start position:0% during which we gradually released names for<00:00:43.820> availability<00:00:44.450> in<00:00:44.630> a<00:00:44.720> randomized<00:00:45.170> process 00:00:45.930 --> 00:00:45.940 align:start position:0% for availability in a randomized process 00:00:45.940 --> 00:00:49.110 align:start position:0% for availability in a randomized process over<00:00:46.940> that<00:00:47.090> eight<00:00:47.300> week<00:00:47.540> period<00:00:47.780> and<00:00:48.200> like 00:00:49.110 --> 00:00:49.120 align:start position:0% over that eight week period and like 00:00:49.120 --> 00:00:52.620 align:start position:0% over that eight week period and like there<00:00:50.120> we<00:00:50.180> go<00:00:50.300> over<00:00:50.899> the<00:00:50.960> eight<00:00:51.530> week<00:00:51.710> period 00:00:52.620 --> 00:00:52.630 align:start position:0% there we go over the eight week period 00:00:52.630 --> 00:00:55.630 align:start position:0% there we go over the eight week period 180,000<00:00:53.630> names<00:00:53.870> were<00:00:54.140> auctioned<00:00:54.500> as<00:00:55.340> you<00:00:55.520> can 00:00:55.630 --> 00:00:55.640 align:start position:0% 180,000 names were auctioned as you can 00:00:55.640 --> 00:00:57.610 align:start position:0% 180,000 names were auctioned as you can see<00:00:55.820> after<00:00:56.149> an<00:00:56.239> initial<00:00:56.450> sort<00:00:56.840> of<00:00:56.930> gold<00:00:57.410> rush 00:00:57.610 --> 00:00:57.620 align:start position:0% see after an initial sort of gold rush 00:00:57.620 --> 00:01:00.490 align:start position:0% see after an initial sort of gold rush spike<00:00:58.010> that<00:00:58.340> was<00:00:58.489> a<00:00:58.520> fairly<00:00:59.110> consistent<00:01:00.110> rate 00:01:00.490 --> 00:01:00.500 align:start position:0% spike that was a fairly consistent rate 00:01:00.500 --> 00:01:03.899 align:start position:0% spike that was a fairly consistent rate over<00:01:00.770> the<00:01:00.860> whole<00:01:01.010> period<00:01:01.780> and<00:01:02.780> to<00:01:03.350> buy<00:01:03.530> those 00:01:03.899 --> 00:01:03.909 align:start position:0% over the whole period and to buy those 00:01:03.909 --> 00:01:05.319 align:start position:0% over the whole period and to buy those 180,000<00:01:04.909> names 00:01:05.319 --> 00:01:05.329 align:start position:0% 180,000 names 00:01:05.329 --> 00:01:07.330 align:start position:0% 180,000 names roughly<00:01:06.080> a<00:01:06.170> hundred<00:01:06.320> and<00:01:06.620> seventy<00:01:06.950> thousand 00:01:07.330 --> 00:01:07.340 align:start position:0% roughly a hundred and seventy thousand 00:01:07.340 --> 00:01:09.160 align:start position:0% roughly a hundred and seventy thousand ether<00:01:07.700> was<00:01:07.850> deposited<00:01:08.450> into<00:01:08.690> a<00:01:08.840> smart 00:01:09.160 --> 00:01:09.170 align:start position:0% ether was deposited into a smart 00:01:09.170 --> 00:01:13.120 align:start position:0% ether was deposited into a smart contract<00:01:10.000> users<00:01:11.000> who<00:01:11.330> purchased<00:01:12.110> names<00:01:12.350> have 00:01:13.120 --> 00:01:13.130 align:start position:0% contract users who purchased names have 00:01:13.130 --> 00:01:15.190 align:start position:0% contract users who purchased names have their<00:01:13.340> atha<00:01:13.729> hold<00:01:13.940> held<00:01:14.270> for<00:01:14.510> at<00:01:14.570> least<00:01:14.690> a<00:01:14.900> year 00:01:15.190 --> 00:01:15.200 align:start position:0% their atha hold held for at least a year 00:01:15.200 --> 00:01:19.330 align:start position:0% their atha hold held for at least a year or<00:01:16.010> until<00:01:16.850> they<00:01:17.180> release<00:01:17.450> the<00:01:17.659> name<00:01:18.130> as<00:01:19.130> you 00:01:19.330 --> 00:01:19.340 align:start position:0% or until they release the name as you 00:01:19.340 --> 00:01:21.420 align:start position:0% or until they release the name as you can<00:01:19.460> see<00:01:19.670> from<00:01:19.909> the<00:01:20.030> graph<00:01:20.210> here<00:01:20.479> the 00:01:21.420 --> 00:01:21.430 align:start position:0% can see from the graph here the 00:01:21.430 --> 00:01:23.710 align:start position:0% can see from the graph here the contributions<00:01:22.430> the<00:01:22.729> the<00:01:23.060> amount<00:01:23.330> that<00:01:23.479> was 00:01:23.710 --> 00:01:23.720 align:start position:0% contributions the the amount that was 00:01:23.720 --> 00:01:26.680 align:start position:0% contributions the the amount that was being<00:01:23.960> deposited<00:01:24.380> on<00:01:24.920> names<00:01:25.420> reduced<00:01:26.420> fairly 00:01:26.680 --> 00:01:26.690 align:start position:0% being deposited on names reduced fairly 00:01:26.690 --> 00:01:28.780 align:start position:0% being deposited on names reduced fairly sharply<00:01:27.170> at<00:01:27.290> the<00:01:27.409> end<00:01:27.560> of<00:01:27.710> the<00:01:27.799> eight-week 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align:start position:0% it's<00:01:37.400> interesting<00:01:37.700> to<00:01:38.030> look<00:01:38.210> at<00:01:38.420> how<00:01:38.510> much 00:01:39.070 --> 00:01:39.080 align:start position:0% it's interesting to look at how much 00:01:39.080 --> 00:01:41.170 align:start position:0% it's interesting to look at how much people<00:01:39.380> paid<00:01:39.740> on<00:01:39.979> average<00:01:40.100> for<00:01:40.610> an<00:01:40.670> ENS<00:01:40.970> name 00:01:41.170 --> 00:01:41.180 align:start position:0% people paid on average for an ENS name 00:01:41.180 --> 00:01:43.450 align:start position:0% people paid on average for an ENS name or<00:01:41.390> rather<00:01:41.570> how<00:01:41.750> much<00:01:41.900> they<00:01:42.080> deposited<00:01:42.619> and 00:01:43.450 --> 00:01:43.460 align:start position:0% or rather how much they deposited and 00:01:43.460 --> 00:01:46.200 align:start position:0% or rather how much they deposited and what<00:01:43.900> proportion<00:01:44.900> of<00:01:44.990> names<00:01:45.259> were 00:01:46.200 --> 00:01:46.210 align:start position:0% what proportion of names were 00:01:46.210 --> 00:01:49.300 align:start position:0% what proportion of names were contentious<00:01:47.210> had<00:01:47.479> more<00:01:47.720> than<00:01:47.810> one<00:01:47.990> bid<00:01:48.229> so<00:01:49.070> if 00:01:49.300 --> 00:01:49.310 align:start position:0% contentious had more than one bid so if 00:01:49.310 --> 00:01:51.310 align:start position:0% contentious had more than one bid so if we<00:01:49.430> divide<00:01:49.580> names<00:01:50.030> up<00:01:50.360> into<00:01:50.630> names<00:01:50.900> that<00:01:51.200> were 00:01:51.310 --> 00:01:51.320 align:start position:0% we divide names up into names that were 00:01:51.320 --> 00:01:53.730 align:start position:0% we divide names up into names that were in<00:01:51.439> a<00:01:51.530> shortlist<00:01:51.979> that<00:01:52.280> we<00:01:52.369> have<00:01:52.580> of<00:01:52.850> common 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00:02:11.580 align:start position:0% weren't on the list as you can see again for<00:02:10.340> the<00:02:10.459> names<00:02:10.670> that<00:02:10.880> were<00:02:11.000> in<00:02:11.120> the<00:02:11.239> list 00:02:11.580 --> 00:02:11.590 align:start position:0% for the names that were in the list 00:02:11.590 --> 00:02:14.170 align:start position:0% for the names that were in the list after<00:02:12.590> a<00:02:12.620> short<00:02:12.980> sort<00:02:13.250> of<00:02:13.310> gold<00:02:13.520> rush<00:02:13.730> period 00:02:14.170 --> 00:02:14.180 align:start position:0% after a short sort of gold rush period 00:02:14.180 --> 00:02:15.970 align:start position:0% after a short sort of gold rush period there<00:02:14.810> was<00:02:14.900> a<00:02:14.930> gradual<00:02:15.470> decrease 00:02:15.970 --> 00:02:15.980 align:start position:0% there was a gradual decrease 00:02:15.980 --> 00:02:18.520 align:start position:0% there was a gradual decrease some<00:02:16.159> contention<00:02:16.670> rate<00:02:16.870> while<00:02:17.870> names<00:02:18.200> that 00:02:18.520 --> 00:02:18.530 align:start position:0% some contention rate while names that 00:02:18.530 --> 00:02:19.750 align:start position:0% some contention rate while names that weren't<00:02:18.680> on<00:02:18.860> the<00:02:18.980> list<00:02:19.010> the<00:02:19.400> line<00:02:19.550> on<00:02:19.670> the 00:02:19.750 --> 00:02:19.760 align:start position:0% weren't on the list the line on the 00:02:19.760 --> 00:02:22.420 align:start position:0% weren't on the list the line on the bottom<00:02:20.060> there<00:02:20.269> were<00:02:21.260> fairly<00:02:21.530> consistent<00:02:22.190> in 00:02:22.420 --> 00:02:22.430 align:start position:0% bottom there were fairly consistent in 00:02:22.430 --> 00:02:24.430 align:start position:0% bottom there were fairly consistent in terms<00:02:22.610> of<00:02:22.940> how<00:02:23.420> often<00:02:23.599> they<00:02:23.870> were<00:02:23.930> competed 00:02:24.430 --> 00:02:24.440 align:start position:0% terms of how often they were competed 00:02:24.440 --> 00:02:28.240 align:start position:0% terms of how often they were competed for<00:02:25.420> so<00:02:26.420> again<00:02:27.049> splitting<00:02:27.560> up<00:02:27.680> by<00:02:27.860> whether<00:02:28.099> the 00:02:28.240 --> 00:02:28.250 align:start position:0% for so again splitting up by whether the 00:02:28.250 --> 00:02:30.789 align:start position:0% for so again splitting up by whether the name<00:02:28.430> was<00:02:28.640> known<00:02:28.849> or<00:02:29.060> not<00:02:29.140> the<00:02:30.140> average<00:02:30.470> price 00:02:30.789 --> 00:02:30.799 align:start position:0% name was known or not the average price 00:02:30.799 --> 00:02:33.100 align:start position:0% name was known or not the average price paid<00:02:31.129> for<00:02:31.190> an<00:02:31.610> NS<00:02:31.940> name<00:02:32.180> in<00:02:32.420> the<00:02:32.540> list<00:02:32.720> was 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--> 00:02:42.440 align:start position:0% as you can see on the right side there 00:02:42.440 --> 00:02:44.710 align:start position:0% as you can see on the right side there when<00:02:43.099> the<00:02:43.310> soft<00:02:43.640> launch<00:02:43.849> period<00:02:44.180> came<00:02:44.420> to<00:02:44.629> an 00:02:44.710 --> 00:02:44.720 align:start position:0% when the soft launch period came to an 00:02:44.720 --> 00:02:45.610 align:start position:0% when the soft launch period came to an end 00:02:45.610 --> 00:02:45.620 align:start position:0% end 00:02:45.620 --> 00:02:48.220 align:start position:0% end the<00:02:45.950> both<00:02:46.159> of<00:02:46.190> those<00:02:46.489> bottled<00:02:47.000> out<00:02:47.120> to<00:02:47.450> very 00:02:48.220 --> 00:02:48.230 align:start position:0% the both of those bottled out to very 00:02:48.230 --> 00:02:50.259 align:start position:0% the both of those bottled out to very low<00:02:48.379> contingent<00:02:48.890> rates<00:02:49.099> and<00:02:49.400> very<00:02:49.790> low<00:02:49.940> median 00:02:50.259 --> 00:02:50.269 align:start position:0% low contingent rates and very low median 00:02:50.269 --> 00:02:52.839 align:start position:0% low contingent rates and very low median prices<00:02:50.540> indicating<00:02:51.470> that<00:02:51.500> most<00:02:52.069> people<00:02:52.459> that 00:02:52.839 --> 00:02:52.849 align:start position:0% prices indicating that most people that 00:02:52.849 --> 00:02:55.210 align:start position:0% prices indicating that most people that wanted<00:02:53.239> to<00:02:53.299> compete<00:02:54.230> for<00:02:54.260> a<00:02:54.470> name<00:02:54.680> got<00:02:55.040> up 00:02:55.210 --> 00:02:55.220 align:start position:0% wanted to compete for a name got up 00:02:55.220 --> 00:02:59.740 align:start position:0% wanted to compete for a name got up during<00:02:55.519> the<00:02:55.730> launch<00:02:55.879> period<00:02:58.420> so<00:02:59.420> one<00:02:59.569> of<00:02:59.690> the 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during 00:03:05.810 --> 00:03:08.020 align:start position:0% their bids by failing to reveal during the<00:03:05.930> correct<00:03:06.200> period<00:03:06.640> and<00:03:07.640> that<00:03:07.670> was 00:03:08.020 --> 00:03:08.030 align:start position:0% the correct period and that was 00:03:08.030 --> 00:03:10.390 align:start position:0% the correct period and that was something<00:03:08.420> we<00:03:08.599> can<00:03:08.810> consume<00:03:09.709> we<00:03:09.920> shared<00:03:10.220> in 00:03:10.390 --> 00:03:10.400 align:start position:0% something we can consume we shared in 00:03:10.400 --> 00:03:12.490 align:start position:0% something we can consume we shared in the<00:03:10.489> design<00:03:10.760> of<00:03:10.790> the<00:03:10.940> registrar<00:03:11.420> as<00:03:12.170> you<00:03:12.349> can 00:03:12.490 --> 00:03:12.500 align:start position:0% the design of the registrar as you can 00:03:12.500 --> 00:03:14.830 align:start position:0% the design of the registrar as you can see<00:03:12.709> here<00:03:12.950> from<00:03:13.310> an<00:03:13.430> initial<00:03:13.879> reasonably<00:03:14.599> high 00:03:14.830 --> 00:03:14.840 align:start position:0% see here from an initial reasonably high 00:03:14.840 --> 00:03:19.270 align:start position:0% see here from an initial reasonably high rate<00:03:15.829> of<00:03:16.120> loss<00:03:17.120> for<00:03:17.540> deposits<00:03:18.410> that<00:03:18.680> rapidly 00:03:19.270 --> 00:03:19.280 align:start position:0% rate of loss for deposits that rapidly 00:03:19.280 --> 00:03:21.280 align:start position:0% rate of loss for deposits that rapidly decreased<00:03:19.790> and<00:03:20.150> we<00:03:20.329> had<00:03:20.450> an<00:03:20.540> average<00:03:20.870> of<00:03:21.169> is 00:03:21.280 --> 00:03:21.290 align:start position:0% decreased and we had an average of is 00:03:21.290 --> 00:03:25.720 align:start position:0% decreased and we had an average of is only<00:03:21.700> 0.3<00:03:22.700> percent<00:03:24.190> we're<00:03:25.190> satisfied<00:03:25.400> that 00:03:25.720 --> 00:03:25.730 align:start position:0% only 0.3 percent we're satisfied that 00:03:25.730 --> 00:03:28.900 align:start position:0% only 0.3 percent we're satisfied that the<00:03:26.030> rate<00:03:26.209> is<00:03:26.450> is<00:03:26.950> quite<00:03:27.950> low<00:03:28.220> but<00:03:28.489> we're<00:03:28.669> not 00:03:28.900 --> 00:03:28.910 align:start position:0% the rate is is quite low but we're not 00:03:28.910 --> 00:03:31.000 align:start position:0% the rate is is quite low but we're not sort<00:03:29.359> of<00:03:29.480> resting<00:03:30.019> on<00:03:30.139> our<00:03:30.169> laurels<00:03:30.290> we<00:03:30.829> want 00:03:31.000 --> 00:03:31.010 align:start position:0% sort of resting on our laurels we want 00:03:31.010 --> 00:03:33.280 align:start position:0% sort of resting on our laurels we want to<00:03:31.099> continue<00:03:31.519> to<00:03:31.609> improve<00:03:31.959> the<00:03:32.959> auction 00:03:33.280 --> 00:03:33.290 align:start position:0% to continue to improve the auction 00:03:33.290 --> 00:03:34.780 align:start position:0% to continue to improve the auction process<00:03:33.680> make<00:03:34.010> it<00:03:34.130> easier<00:03:34.400> for<00:03:34.430> people<00:03:34.609> to 00:03:34.780 --> 00:03:34.790 align:start position:0% process make it easier for people to 00:03:34.790 --> 00:03:36.520 align:start position:0% process make it easier for people to interact<00:03:35.209> with<00:03:35.269> and<00:03:35.599> less<00:03:35.720> likely<00:03:36.200> that<00:03:36.230> they 00:03:36.520 --> 00:03:36.530 align:start position:0% interact with and less likely that they 00:03:36.530 --> 00:03:40.809 align:start position:0% interact with and less likely that they will<00:03:36.709> lose<00:03:37.549> funds<00:03:37.880> or<00:03:38.239> harder<00:03:39.169> to<00:03:39.819> make 00:03:40.809 --> 00:03:40.819 align:start position:0% will lose funds or harder to make 00:03:40.819 --> 00:03:45.220 align:start position:0% will lose funds or harder to make mistakes<00:03:41.209> as<00:03:41.780> we'll<00:03:42.049> see<00:03:42.380> soon<00:03:44.049> it's<00:03:45.049> also 00:03:45.220 --> 00:03:45.230 align:start position:0% mistakes as we'll see soon it's also 00:03:45.230 --> 00:03:46.569 align:start position:0% mistakes as we'll see soon it's also interesting<00:03:45.769> to<00:03:45.799> look<00:03:46.010> at<00:03:46.130> the<00:03:46.220> ownership 00:03:46.569 --> 00:03:46.579 align:start position:0% interesting to look at the ownership 00:03:46.579 --> 00:03:48.339 align:start position:0% interesting to look at the ownership distribution<00:03:47.329> of<00:03:47.450> names<00:03:47.660> because<00:03:47.989> this<00:03:48.139> gives 00:03:48.339 --> 00:03:48.349 align:start position:0% distribution of names because this gives 00:03:48.349 --> 00:03:49.960 align:start position:0% distribution of names because this gives us<00:03:48.470> an<00:03:48.590> indication<00:03:48.829> of<00:03:49.280> how<00:03:49.370> many<00:03:49.430> names<00:03:49.819> were 00:03:49.960 --> 00:03:49.970 align:start position:0% us an indication of how many names were 00:03:49.970 --> 00:03:52.539 align:start position:0% us an indication of how many names were bought<00:03:50.329> with<00:03:50.989> active<00:03:51.680> use<00:03:51.859> in<00:03:52.040> mind<00:03:52.280> as 00:03:52.539 --> 00:03:52.549 align:start position:0% bought with active use in mind as 00:03:52.549 --> 00:03:54.009 align:start position:0% bought with active use in mind as opposed<00:03:52.910> to<00:03:53.000> how<00:03:53.150> many<00:03:53.180> were<00:03:53.480> bought<00:03:53.720> with<00:03:53.989> the 00:03:54.009 --> 00:03:54.019 align:start position:0% opposed to how many were bought with the 00:03:54.019 --> 00:03:58.619 align:start position:0% opposed to how many were bought with the intention<00:03:54.680> of<00:03:55.000> hoarding<00:03:56.000> them<00:03:56.380> so<00:03:57.400> roughly 00:03:58.619 --> 00:03:58.629 align:start position:0% intention of hoarding them so roughly 00:03:58.629 --> 00:04:01.659 align:start position:0% intention of hoarding them so roughly 8500<00:03:59.629> people<00:03:59.660> bought<00:04:00.109> names<00:04:00.470> during<00:04:01.459> the 00:04:01.659 --> 00:04:01.669 align:start position:0% 8500 people bought names during the 00:04:01.669 --> 00:04:04.839 align:start position:0% 8500 people bought names during the launch<00:04:01.819> period<00:04:02.230> of<00:04:03.230> those<00:04:03.590> about<00:04:04.400> a<00:04:04.430> hundred 00:04:04.839 --> 00:04:04.849 align:start position:0% launch period of those about a hundred 00:04:04.849 --> 00:04:06.940 align:start position:0% launch period of those about a hundred and<00:04:04.940> twenty<00:04:05.239> three<00:04:05.389> of<00:04:05.599> them<00:04:05.810> 1.4<00:04:06.530> percent<00:04:06.650> of 00:04:06.940 --> 00:04:06.950 align:start position:0% and twenty three of them 1.4 percent of 00:04:06.950 --> 00:04:08.949 align:start position:0% and twenty three of them 1.4 percent of the<00:04:07.010> total<00:04:07.160> registrants<00:04:07.790> own<00:04:08.389> half<00:04:08.750> the 00:04:08.949 --> 00:04:08.959 align:start position:0% the total registrants own half the 00:04:08.959 --> 00:04:11.289 align:start position:0% the total registrants own half the registered<00:04:09.410> names<00:04:09.650> and<00:04:10.040> in<00:04:10.700> order<00:04:10.940> to<00:04:10.970> buy 00:04:11.289 --> 00:04:11.299 align:start position:0% registered names and in order to buy 00:04:11.299 --> 00:04:13.509 align:start position:0% registered names and in order to buy those<00:04:11.540> half<00:04:11.989> the<00:04:12.169> registered<00:04:12.590> names<00:04:12.799> they 00:04:13.509 --> 00:04:13.519 align:start position:0% those half the registered names they 00:04:13.519 --> 00:04:15.369 align:start position:0% those half the registered names they paid<00:04:13.790> only<00:04:14.120> about<00:04:14.419> twenty<00:04:14.810> percent<00:04:15.139> of<00:04:15.290> the 00:04:15.369 --> 00:04:15.379 align:start position:0% paid only about twenty percent of the 00:04:15.379 --> 00:04:17.830 align:start position:0% paid only about twenty percent of the total<00:04:15.530> registration<00:04:16.310> fees<00:04:16.519> or<00:04:16.820> about<00:04:17.239> thirty 00:04:17.830 --> 00:04:17.840 align:start position:0% total registration fees or about thirty 00:04:17.840 --> 00:04:21.129 align:start position:0% total registration fees or about thirty four<00:04:18.049> thousand<00:04:18.470> ether<00:04:19.209> and<00:04:20.209> from<00:04:21.019> the 00:04:21.129 --> 00:04:21.139 align:start position:0% four thousand ether and from the 00:04:21.139 --> 00:04:22.930 align:start position:0% four thousand ether and from the histogram<00:04:21.590> here<00:04:21.799> you<00:04:22.039> can<00:04:22.220> see<00:04:22.430> that<00:04:22.580> the<00:04:22.699> vast 00:04:22.930 --> 00:04:22.940 align:start position:0% histogram here you can see that the vast 00:04:22.940 --> 00:04:25.000 align:start position:0% histogram here you can see that the vast majority<00:04:23.120> of<00:04:23.570> accounts<00:04:24.020> over<00:04:24.349> five<00:04:24.530> thousand 00:04:25.000 --> 00:04:25.010 align:start position:0% majority of accounts over five thousand 00:04:25.010 --> 00:04:28.240 align:start position:0% majority of accounts over five thousand of<00:04:25.099> them<00:04:25.370> own<00:04:26.210> no<00:04:26.570> more<00:04:26.780> than<00:04:26.930> five<00:04:27.140> names<00:04:27.440> with 00:04:28.240 --> 00:04:28.250 align:start position:0% of them own no more than five names with 00:04:28.250 --> 00:04:29.770 align:start position:0% of them own no more than five names with a<00:04:28.280> long<00:04:28.580> tail<00:04:28.909> distribution 00:04:29.770 --> 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and seven names client adoption since the<00:04:42.470> launch<00:04:42.620> has<00:04:42.860> been<00:04:43.010> excellent<00:04:43.510> we<00:04:44.510> have 00:04:44.650 --> 00:04:44.660 align:start position:0% the launch has been excellent we have 00:04:44.660 --> 00:04:47.430 align:start position:0% the launch has been excellent we have support<00:04:45.050> in<00:04:45.230> meta<00:04:45.530> masks<00:04:45.770> my<00:04:46.460> ether<00:04:46.730> wallet 00:04:47.430 --> 00:04:47.440 align:start position:0% support in meta masks my ether wallet 00:04:47.440 --> 00:04:50.710 align:start position:0% support in meta masks my ether wallet ether<00:04:48.440> scan<00:04:48.740> a<00:04:48.980> variety<00:04:49.910> of<00:04:49.970> other<00:04:50.150> clients 00:04:50.710 --> 00:04:50.720 align:start position:0% ether scan a variety of other clients 00:04:50.720 --> 00:04:53.290 align:start position:0% ether scan a variety of other clients and<00:04:51.020> mobile<00:04:51.320> wallets<00:04:51.740> and<00:04:52.580> one<00:04:52.880> of<00:04:53.000> our<00:04:53.090> main 00:04:53.290 --> 00:04:53.300 align:start position:0% and mobile wallets and one of our main 00:04:53.300 --> 00:04:56.950 align:start position:0% and mobile wallets and one of our main efforts<00:04:53.690> for<00:04:53.930> the<00:04:54.020> ongoing<00:04:55.090> ENS<00:04:56.090> effort<00:04:56.720> will 00:04:56.950 --> 00:04:56.960 align:start position:0% efforts for the ongoing ENS effort will 00:04:56.960 --> 00:04:58.600 align:start position:0% efforts for the ongoing ENS effort will be<00:04:56.990> to<00:04:57.320> increase<00:04:57.680> client<00:04:58.190> adoption 00:04:58.600 --> 00:04:58.610 align:start position:0% be to increase client adoption 00:04:58.610 --> 00:05:00.700 align:start position:0% be to increase client adoption particularly<00:04:59.480> with<00:04:59.600> exchanges<00:05:00.230> you<00:05:00.560> might 00:05:00.700 --> 00:05:00.710 align:start position:0% particularly with exchanges you might 00:05:00.710 --> 00:05:02.350 align:start position:0% particularly with exchanges you might notice<00:05:01.040> we<00:05:01.160> only<00:05:01.190> have<00:05:01.550> one<00:05:01.790> pioneering 00:05:02.350 --> 00:05:02.360 align:start position:0% notice we only have one pioneering 00:05:02.360 --> 00:05:04.450 align:start position:0% notice we only have one pioneering exchange<00:05:02.870> in<00:05:03.020> this<00:05:03.170> list<00:05:03.380> and<00:05:03.740> we<00:05:04.010> really<00:05:04.310> want 00:05:04.450 --> 00:05:04.460 align:start position:0% exchange in this list and we really want 00:05:04.460 --> 00:05:09.010 align:start position:0% exchange in this list and we really want to<00:05:04.490> improve<00:05:04.790> that<00:05:06.340> in<00:05:07.340> August<00:05:07.670> 2017<00:05:08.300> we<00:05:08.870> had 00:05:09.010 --> 00:05:09.020 align:start position:0% to improve that in August 2017 we had 00:05:09.020 --> 00:05:11.740 align:start position:0% to improve that in August 2017 we had the<00:05:09.140> first<00:05:09.350> ENS<00:05:09.950> workshop<00:05:10.540> this<00:05:11.540> was<00:05:11.720> a 00:05:11.740 --> 00:05:11.750 align:start position:0% the first ENS workshop this was a 00:05:11.750 --> 00:05:13.330 align:start position:0% the first ENS workshop this was a gathering<00:05:11.990> of<00:05:12.350> people<00:05:12.380> interested<00:05:13.040> in 00:05:13.330 --> 00:05:13.340 align:start position:0% gathering of people interested in 00:05:13.340 --> 00:05:14.980 align:start position:0% gathering of people interested in advancing<00:05:14.030> the<00:05:14.150> state-of-the-art<00:05:14.600> with<00:05:14.870> the 00:05:14.980 --> 00:05:14.990 align:start position:0% advancing the state-of-the-art with the 00:05:14.990 --> 00:05:16.710 align:start position:0% advancing the state-of-the-art with the aeneas<00:05:15.230> building<00:05:15.710> out<00:05:15.830> new<00:05:16.040> infrastructure 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position:0% we discussed over three days a number of 00:05:24.320 --> 00:05:27.190 align:start position:0% we discussed over three days a number of issues<00:05:24.500> including<00:05:25.690> dispute<00:05:26.690> resolution 00:05:27.190 --> 00:05:27.200 align:start position:0% issues including dispute resolution 00:05:27.200 --> 00:05:29.980 align:start position:0% issues including dispute resolution design<00:05:28.100> of<00:05:28.250> a<00:05:28.310> permanent<00:05:28.700> registrar<00:05:29.240> how<00:05:29.930> to 00:05:29.980 --> 00:05:29.990 align:start position:0% design of a permanent registrar how to 00:05:29.990 --> 00:05:33.159 align:start position:0% design of a permanent registrar how to secure<00:05:30.380> subdomains<00:05:30.880> and<00:05:31.880> DNS<00:05:32.510> integration 00:05:33.159 --> 00:05:33.169 align:start position:0% secure subdomains and DNS integration 00:05:33.169 --> 00:05:35.200 align:start position:0% secure subdomains and DNS integration and<00:05:33.500> I'll<00:05:33.860> go<00:05:34.040> briefly<00:05:34.460> over<00:05:34.580> what<00:05:35.060> we 00:05:35.200 --> 00:05:35.210 align:start position:0% and I'll go briefly over what we 00:05:35.210 --> 00:05:38.170 align:start position:0% and I'll go briefly over what we determined<00:05:36.020> in<00:05:36.590> the<00:05:36.770> workshop<00:05:37.160> and<00:05:37.340> how<00:05:38.000> we've 00:05:38.170 --> 00:05:38.180 align:start position:0% determined in the workshop and how we've 00:05:38.180 --> 00:05:41.770 align:start position:0% determined in the workshop and how we've progressed<00:05:38.540> things<00:05:38.810> since<00:05:39.050> then<00:05:40.690> so<00:05:41.690> the 00:05:41.770 --> 00:05:41.780 align:start position:0% progressed things since then so the 00:05:41.780 --> 00:05:44.200 align:start position:0% progressed things since then so the first<00:05:42.020> topic<00:05:42.890> that<00:05:43.370> we<00:05:43.490> discussed<00:05:43.520> quite 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align:start position:0% no built-in dispute resolution mechanism and<00:05:53.270> this<00:05:53.630> was<00:05:53.780> a<00:05:53.810> deliberate<00:05:54.320> choice<00:05:54.350> because 00:05:55.030 --> 00:05:55.040 align:start position:0% and this was a deliberate choice because 00:05:55.040 --> 00:05:56.640 align:start position:0% and this was a deliberate choice because we<00:05:55.070> wanted<00:05:55.400> to<00:05:55.490> build<00:05:55.640> the<00:05:55.820> simplest<00:05:56.240> possible 00:05:56.640 --> 00:05:56.650 align:start position:0% we wanted to build the simplest possible 00:05:56.650 --> 00:05:59.380 align:start position:0% we wanted to build the simplest possible registrar<00:05:57.650> to<00:05:57.830> get<00:05:57.950> things<00:05:58.190> started<00:05:58.340> and<00:05:58.850> then 00:05:59.380 --> 00:05:59.390 align:start position:0% registrar to get things started and then 00:05:59.390 --> 00:06:01.240 align:start position:0% registrar to get things started and then learn<00:05:59.600> from<00:05:59.840> the<00:05:59.990> experience<00:06:00.560> in<00:06:00.800> order<00:06:01.070> to 00:06:01.240 --> 00:06:01.250 align:start position:0% learn from the experience in order to 00:06:01.250 --> 00:06:04.210 align:start position:0% learn from the experience in order to build<00:06:01.850> a<00:06:02.060> better<00:06:02.240> permanent<00:06:02.780> registrar<00:06:03.290> the 00:06:04.210 --> 00:06:04.220 align:start position:0% build a better permanent registrar the 00:06:04.220 --> 00:06:06.790 align:start position:0% build a better permanent registrar the consensus<00:06:05.180> decision<00:06:05.630> at<00:06:05.870> the<00:06:06.080> workshop<00:06:06.560> was 00:06:06.790 --> 00:06:06.800 align:start position:0% consensus decision at the workshop was 00:06:06.800 --> 00:06:08.409 align:start position:0% consensus decision at the workshop was that<00:06:07.010> the<00:06:07.160> dispute<00:06:07.700> resolution<00:06:08.210> should 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lists they would follow their own 00:06:15.010 --> 00:06:17.440 align:start position:0% lists they would follow their own processes<00:06:16.010> whatever<00:06:16.460> they<00:06:16.610> see<00:06:16.669> fit<00:06:17.060> for 00:06:17.440 --> 00:06:17.450 align:start position:0% processes whatever they see fit for 00:06:17.450 --> 00:06:20.409 align:start position:0% processes whatever they see fit for black<00:06:17.780> listing<00:06:18.229> domains<00:06:18.580> and<00:06:19.580> users<00:06:20.120> and 00:06:20.409 --> 00:06:20.419 align:start position:0% black listing domains and users and 00:06:20.419 --> 00:06:22.390 align:start position:0% black listing domains and users and wallets<00:06:20.870> could<00:06:21.110> then<00:06:21.260> voluntarily<00:06:21.770> subscribe 00:06:22.390 --> 00:06:22.400 align:start position:0% wallets could then voluntarily subscribe 00:06:22.400 --> 00:06:23.950 align:start position:0% wallets could then voluntarily subscribe to<00:06:22.580> a<00:06:22.610> blacklist<00:06:23.150> that<00:06:23.300> met<00:06:23.810> their 00:06:23.950 --> 00:06:23.960 align:start position:0% to a blacklist that met their 00:06:23.960 --> 00:06:25.390 align:start position:0% to a blacklist that met their requirements<00:06:24.500> or<00:06:24.620> none<00:06:24.830> at<00:06:24.950> all<00:06:25.070> if<00:06:25.280> they 00:06:25.390 --> 00:06:25.400 align:start position:0% requirements or none at all if they 00:06:25.400 --> 00:06:28.210 align:start position:0% requirements or none at all if they prefer<00:06:25.780> so<00:06:26.780> for<00:06:27.020> instance<00:06:27.410> here<00:06:27.740> we<00:06:27.770> have<00:06:28.100> an 00:06:28.210 --> 00:06:28.220 align:start position:0% prefer so for instance here we have an 00:06:28.220 --> 00:06:29.980 align:start position:0% prefer so for instance here we have an example<00:06:28.460> black<00:06:28.820> lists<00:06:29.090> in<00:06:29.240> the<00:06:29.300> middle<00:06:29.540> the 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align:start position:0% resolve Saifu dot XYZ in this case the 00:06:37.070 --> 00:06:38.920 align:start position:0% resolve Saifu dot XYZ in this case the domain<00:06:37.160> isn't<00:06:37.669> in<00:06:38.000> the<00:06:38.090> black<00:06:38.300> list<00:06:38.510> so<00:06:38.810> the 00:06:38.920 --> 00:06:38.930 align:start position:0% domain isn't in the black list so the 00:06:38.930 --> 00:06:41.589 align:start position:0% domain isn't in the black list so the blacklist<00:06:39.560> simply<00:06:39.919> passes<00:06:40.370> the<00:06:40.490> request<00:06:40.820> onto 00:06:41.589 --> 00:06:41.599 align:start position:0% blacklist simply passes the request onto 00:06:41.599 --> 00:06:42.700 align:start position:0% blacklist simply passes the request onto Egon<00:06:41.840> es<00:06:41.990> which 00:06:42.700 --> 00:06:42.710 align:start position:0% Egon es which 00:06:42.710 --> 00:06:44.950 align:start position:0% Egon es which response<00:06:43.010> as<00:06:43.250> normal<00:06:43.640> if<00:06:44.090> the<00:06:44.510> user<00:06:44.690> then 00:06:44.950 --> 00:06:44.960 align:start position:0% response as normal if the user then 00:06:44.960 --> 00:06:47.110 align:start position:0% response as normal if the user then wants<00:06:45.290> to<00:06:45.320> resolve<00:06:45.800> a<00:06:45.950> domain<00:06:46.250> that<00:06:46.520> is<00:06:46.730> in<00:06:47.030> the 00:06:47.110 --> 00:06:47.120 align:start position:0% wants to resolve a domain that is in the 00:06:47.120 --> 00:06:49.660 align:start position:0% wants to resolve a domain that is in the blacklist<00:06:47.570> like<00:06:47.840> bad<00:06:48.170> dot<00:06:48.440> X<00:06:48.620> Y<00:06:48.830> Z<00:06:48.890> the 00:06:49.660 --> 00:06:49.670 align:start position:0% blacklist like bad dot X Y Z the 00:06:49.670 --> 00:06:51.670 align:start position:0% blacklist like bad dot X Y Z the blacklist<00:06:50.120> detects<00:06:50.540> this<00:06:50.750> and<00:06:51.080> returns<00:06:51.530> a 00:06:51.670 --> 00:06:51.680 align:start position:0% blacklist detects this and returns a 00:06:51.680 --> 00:06:53.740 align:start position:0% blacklist detects this and returns a null<00:06:51.860> result<00:06:52.070> ensuring<00:06:52.940> that<00:06:52.970> phishing<00:06:53.660> and 00:06:53.740 --> 00:06:53.750 align:start position:0% null result ensuring that phishing and 00:06:53.750 --> 00:06:55.990 align:start position:0% null result ensuring that phishing and spam<00:06:54.050> domains<00:06:54.470> and<00:06:54.890> scanners<00:06:55.460> don't<00:06:55.850> get 00:06:55.990 --> 00:06:56.000 align:start position:0% spam domains and scanners don't get 00:06:56.000 --> 00:07:03.160 align:start position:0% spam domains and scanners don't get resolved<00:06:58.810> and<00:06:59.810> sorry<00:07:00.410> I<00:07:00.470> should<00:07:00.740> add<00:07:01.960> the<00:07:02.960> goal 00:07:03.160 --> 00:07:03.170 align:start position:0% resolved and sorry I should add the goal 00:07:03.170 --> 00:07:05.530 align:start position:0% resolved and sorry I should add the goal in<00:07:03.860> the<00:07:04.040> long<00:07:04.190> run<00:07:04.370> is<00:07:04.580> to<00:07:04.760> build<00:07:04.910> experience 00:07:05.530 --> 00:07:05.540 align:start position:0% in the long run is to build experience 00:07:05.540 --> 00:07:07.210 align:start position:0% in the long run is to build experience with<00:07:05.750> operating<00:07:06.140> Lee's<00:07:06.440> blacklist 00:07:07.210 --> 00:07:07.220 align:start position:0% with operating Lee's blacklist 00:07:07.220 --> 00:07:10.390 align:start position:0% with operating Lee's blacklist registrar's<00:07:07.850> as<00:07:08.510> a<00:07:08.600> second<00:07:09.530> layer<00:07:09.680> and<00:07:09.890> then 00:07:10.390 --> 00:07:10.400 align:start position:0% registrar's as a second layer and then 00:07:10.400 --> 00:07:12.250 align:start position:0% registrar's as a second layer and then evaluate<00:07:10.940> further<00:07:11.210> later<00:07:11.630> whether<00:07:12.080> they 00:07:12.250 --> 00:07:12.260 align:start position:0% evaluate further later whether they 00:07:12.260 --> 00:07:13.810 align:start position:0% evaluate further later whether they should<00:07:12.320> be<00:07:12.560> integrated<00:07:13.130> into<00:07:13.250> the<00:07:13.400> base<00:07:13.580> layer 00:07:13.810 --> 00:07:13.820 align:start position:0% should be integrated into the base layer 00:07:13.820 --> 00:07:15.460 align:start position:0% should be integrated into the base layer or<00:07:14.330> whether<00:07:14.540> it<00:07:14.690> should<00:07:14.840> continue<00:07:15.080> to<00:07:15.260> be<00:07:15.380> a 00:07:15.460 --> 00:07:15.470 align:start position:0% or whether it should continue to be a 00:07:15.470 --> 00:07:18.700 align:start position:0% or whether it should continue to be a separate<00:07:15.920> opt-in<00:07:16.430> solution 00:07:18.700 --> 00:07:18.710 align:start position:0% separate opt-in solution 00:07:18.710 --> 00:07:20.910 align:start position:0% separate opt-in solution the<00:07:18.980> second<00:07:19.310> major<00:07:19.460> topic<00:07:19.910> of<00:07:20.000> discussion<00:07:20.060> was 00:07:20.910 --> 00:07:20.920 align:start position:0% the second major topic of discussion was 00:07:20.920 --> 00:07:24.100 align:start position:0% the second major topic of discussion was design<00:07:21.920> of<00:07:22.070> the<00:07:22.160> permanent<00:07:22.640> NS<00:07:22.970> registrar<00:07:23.630> and 00:07:24.100 --> 00:07:24.110 align:start position:0% design of the permanent NS registrar and 00:07:24.110 --> 00:07:27.220 align:start position:0% design of the permanent NS registrar and one<00:07:24.560> of<00:07:24.680> the<00:07:24.770> unanticipated<00:07:25.960> consequences<00:07:26.960> of 00:07:27.220 --> 00:07:27.230 align:start position:0% one of the unanticipated consequences of 00:07:27.230 --> 00:07:31.660 align:start position:0% one of the unanticipated consequences of the<00:07:28.010> deposit<00:07:28.670> based<00:07:28.850> model<00:07:29.300> for<00:07:29.780> DNS<00:07:30.620> is<00:07:31.040> that 00:07:31.660 --> 00:07:31.670 align:start position:0% the deposit based model for DNS is that 00:07:31.670 --> 00:07:33.370 align:start position:0% the deposit based model for DNS is that different<00:07:32.510> participants<00:07:33.080> in<00:07:33.170> the<00:07:33.230> market 00:07:33.370 --> 00:07:33.380 align:start position:0% different participants in the market 00:07:33.380 --> 00:07:36.010 align:start position:0% different participants in the market have<00:07:33.740> very<00:07:33.980> different<00:07:34.220> costs<00:07:34.700> of<00:07:34.790> capital<00:07:35.020> on 00:07:36.010 --> 00:07:36.020 align:start position:0% have very different costs of capital on 00:07:36.020 --> 00:07:37.870 align:start position:0% have very different costs of capital on the<00:07:36.170> left<00:07:36.350> here<00:07:36.560> we<00:07:36.680> have<00:07:36.830> the<00:07:36.950> user<00:07:37.160> who<00:07:37.850> is 00:07:37.870 --> 00:07:37.880 align:start position:0% the left here we have the user who is 00:07:37.880 --> 00:07:39.820 align:start position:0% the left here we have the user who is registering<00:07:38.780> a<00:07:38.840> domain<00:07:38.870> with<00:07:39.320> the<00:07:39.410> intention 00:07:39.820 --> 00:07:39.830 align:start position:0% registering a domain with the intention 00:07:39.830 --> 00:07:42.970 align:start position:0% registering a domain with the intention of<00:07:39.920> using<00:07:40.130> it<00:07:40.370> directly<00:07:40.970> and<00:07:41.510> to<00:07:42.110> them<00:07:42.290> the 00:07:42.970 --> 00:07:42.980 align:start position:0% of using it directly and to them the 00:07:42.980 --> 00:07:44.530 align:start position:0% of using it directly and to them the cost<00:07:43.190> of<00:07:43.400> putting<00:07:43.520> down<00:07:43.760> a<00:07:43.820> deposit<00:07:44.060> was 00:07:44.530 --> 00:07:44.540 align:start position:0% cost of putting down a deposit was 00:07:44.540 --> 00:07:45.850 align:start position:0% cost of putting down a deposit was effectively<00:07:44.990> the<00:07:45.230> whole<00:07:45.380> cost<00:07:45.620> of<00:07:45.800> the 00:07:45.850 --> 00:07:45.860 align:start position:0% effectively the whole cost of the 00:07:45.860 --> 00:07:47.560 align:start position:0% effectively the whole cost of the deposit<00:07:46.340> because<00:07:46.700> they<00:07:46.820> intend<00:07:47.120> to<00:07:47.210> retain<00:07:47.540> a 00:07:47.560 --> 00:07:47.570 align:start position:0% deposit because they intend to retain a 00:07:47.570 --> 00:07:49.720 align:start position:0% deposit because they intend to retain a name<00:07:47.870> indefinitely<00:07:48.410> they<00:07:49.010> can't<00:07:49.280> count<00:07:49.490> on 00:07:49.720 --> 00:07:49.730 align:start position:0% name indefinitely they can't count on 00:07:49.730 --> 00:07:51.220 align:start position:0% name indefinitely they can't count on relinquishing<00:07:50.210> the<00:07:50.540> name<00:07:50.690> and<00:07:50.930> getting<00:07:51.050> those 00:07:51.220 --> 00:07:51.230 align:start position:0% relinquishing the name and getting those 00:07:51.230 --> 00:07:53.740 align:start position:0% relinquishing the name and getting those funds<00:07:51.530> back<00:07:51.940> on<00:07:52.940> the<00:07:53.120> other<00:07:53.210> hand<00:07:53.480> you<00:07:53.630> have 00:07:53.740 --> 00:07:53.750 align:start position:0% funds back on the other hand you have 00:07:53.750 --> 00:07:55.510 align:start position:0% funds back on the other hand you have the<00:07:53.870> investor<00:07:54.380> who<00:07:54.560> is<00:07:54.590> looking<00:07:55.040> for<00:07:55.220> some<00:07:55.370> way 00:07:55.510 --> 00:07:55.520 align:start position:0% the investor who is looking for some way 00:07:55.520 --> 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not being able to use it for other things<00:08:01.790> and<00:08:02.330> finally<00:08:03.170> you<00:08:03.440> have<00:08:03.470> the 00:08:03.700 --> 00:08:03.710 align:start position:0% things and finally you have the 00:08:03.710 --> 00:08:05.770 align:start position:0% things and finally you have the speculator<00:08:04.250> who<00:08:04.700> would<00:08:04.970> be<00:08:05.120> holding<00:08:05.480> ether 00:08:05.770 --> 00:08:05.780 align:start position:0% speculator who would be holding ether 00:08:05.780 --> 00:08:08.740 align:start position:0% speculator who would be holding ether regardless<00:08:06.350> and<00:08:06.560> they<00:08:07.100> see<00:08:07.240> pianist<00:08:08.240> names<00:08:08.480> as 00:08:08.740 --> 00:08:08.750 align:start position:0% regardless and they see pianist names as 00:08:08.750 --> 00:08:11.800 align:start position:0% regardless and they see pianist names as an<00:08:08.870> almost<00:08:09.020> risk-free<00:08:09.740> way<00:08:09.860> to<00:08:10.390> hold<00:08:11.390> Barrett 00:08:11.800 --> 00:08:11.810 align:start position:0% an almost risk-free way to hold Barrett 00:08:11.810 --> 00:08:14.860 align:start position:0% an almost risk-free way to hold Barrett ether<00:08:12.200> and<00:08:12.580> so<00:08:13.580> our<00:08:13.940> conclusion<00:08:14.540> from<00:08:14.720> the 00:08:14.860 --> 00:08:14.870 align:start position:0% ether and so our conclusion from the 00:08:14.870 --> 00:08:16.720 align:start position:0% ether and so our conclusion from the workshop<00:08:15.320> is<00:08:15.560> that<00:08:15.590> we<00:08:15.830> should<00:08:16.040> transition<00:08:16.550> to 00:08:16.720 --> 00:08:16.730 align:start position:0% workshop is that we should transition to 00:08:16.730 --> 00:08:18.850 align:start position:0% workshop is that we should transition to a<00:08:16.790> rent<00:08:17.060> based<00:08:17.210> model<00:08:17.690> and<00:08:17.930> in<00:08:18.440> the<00:08:18.470> rent<00:08:18.710> based 00:08:18.850 --> 00:08:18.860 align:start position:0% a rent based model and in the rent based 00:08:18.860 --> 00:08:22.090 align:start position:0% a rent based model and in the rent based model<00:08:19.480> every<00:08:20.480> name<00:08:20.690> has<00:08:21.050> an<00:08:21.290> annual<00:08:21.530> fee<00:08:21.830> which 00:08:22.090 --> 00:08:22.100 align:start position:0% model every name has an annual fee which 00:08:22.100 --> 00:08:25.570 align:start position:0% model every name has an annual fee which is<00:08:22.130> assessed<00:08:22.670> sort<00:08:22.970> of<00:08:23.060> continuously<00:08:24.160> and<00:08:25.160> as 00:08:25.570 --> 00:08:25.580 align:start position:0% is assessed sort of continuously and as 00:08:25.580 --> 00:08:28.060 align:start position:0% is assessed sort of continuously and as a<00:08:26.150> result<00:08:26.570> everyone<00:08:27.020> has<00:08:27.320> effectively<00:08:27.800> the 00:08:28.060 --> 00:08:28.070 align:start position:0% a result everyone has effectively the 00:08:28.070 --> 00:08:30.640 align:start position:0% a result everyone has effectively the same<00:08:28.100> cost<00:08:28.610> for<00:08:28.850> holding<00:08:29.120> a<00:08:29.180> domain<00:08:29.470> it's<00:08:30.470> also 00:08:30.640 --> 00:08:30.650 align:start position:0% same cost for holding a domain it's also 00:08:30.650 --> 00:08:32.680 align:start position:0% same cost for holding a domain it's also important<00:08:31.190> to<00:08:31.310> note<00:08:31.490> that<00:08:31.520> the<00:08:32.090> plan<00:08:32.450> is<00:08:32.660> that 00:08:32.680 --> 00:08:32.690 align:start position:0% important to note that the plan is that 00:08:32.690 --> 00:08:35.260 align:start position:0% important to note that the plan is that all<00:08:33.110> domains<00:08:33.440> would<00:08:33.650> have<00:08:33.830> the<00:08:33.950> same<00:08:34.270> ongoing 00:08:35.260 --> 00:08:35.270 align:start position:0% all domains would have the same ongoing 00:08:35.270 --> 00:08:37.840 align:start position:0% all domains would have the same ongoing rent<00:08:35.510> this<00:08:36.380> wouldn't<00:08:36.710> depend<00:08:36.950> on<00:08:37.190> how<00:08:37.700> much 00:08:37.840 --> 00:08:37.850 align:start position:0% rent this wouldn't depend on how much 00:08:37.850 --> 00:08:39.640 align:start position:0% rent this wouldn't depend on how much you<00:08:38.150> paid<00:08:38.540> for<00:08:38.780> the<00:08:38.840> domain<00:08:39.080> as<00:08:39.260> option 00:08:39.640 --> 00:08:39.650 align:start position:0% you paid for the domain as option 00:08:39.650 --> 00:08:41.350 align:start position:0% you paid for the domain as option because<00:08:40.160> we<00:08:40.280> have<00:08:40.370> no<00:08:40.490> desire<00:08:40.670> to<00:08:40.820> penalize 00:08:41.350 --> 00:08:41.360 align:start position:0% because we have no desire to penalize 00:08:41.360 --> 00:08:44.650 align:start position:0% because we have no desire to penalize people<00:08:41.390> merely<00:08:41.990> for<00:08:42.200> being<00:08:42.350> popular<00:08:43.420> the<00:08:44.420> next 00:08:44.650 --> 00:08:44.660 align:start position:0% people merely for being popular the next 00:08:44.660 --> 00:08:46.600 align:start position:0% people merely for being popular the next logical<00:08:44.810> question<00:08:45.080> is<00:08:45.680> how<00:08:45.980> you<00:08:46.010> determine 00:08:46.600 --> 00:08:46.610 align:start position:0% logical question is how you determine 00:08:46.610 --> 00:08:49.420 align:start position:0% logical question is how you determine the<00:08:47.030> rent<00:08:47.210> an<00:08:48.080> ultimately<00:08:48.920> unsatisfying 00:08:49.420 --> 00:08:49.430 align:start position:0% the rent an ultimately unsatisfying 00:08:49.430 --> 00:08:53.140 align:start position:0% the rent an ultimately unsatisfying option<00:08:50.300> is<00:08:50.480> to<00:08:50.660> simply<00:08:51.050> have<00:08:51.860> somebody<00:08:52.370> sit<00:08:52.700> by 00:08:53.140 --> 00:08:53.150 align:start position:0% option is to simply have somebody sit by 00:08:53.150 --> 00:08:56.640 align:start position:0% option is to simply have somebody sit by Fiat<00:08:53.510> as<00:08:53.630> it<00:08:53.750> were<00:08:53.870> and<00:08:54.650> revise<00:08:54.980> it<00:08:55.160> from<00:08:55.310> times 00:08:56.640 --> 00:08:56.650 align:start position:0% Fiat as it were and revise it from times 00:08:56.650 --> 00:08:58.050 align:start position:0% Fiat as it were and revise it from times but<00:08:56.980> we<00:08:57.100> think<00:08:57.250> we<00:08:57.370> have<00:08:57.460> a<00:08:57.490> more<00:08:57.670> elegant 00:08:58.050 --> 00:08:58.060 align:start position:0% but we think we have a more elegant 00:08:58.060 --> 00:08:59.910 align:start position:0% but we think we have a more elegant approach<00:08:58.090> and<00:08:58.690> this<00:08:58.779> was<00:08:58.960> suggested<00:08:59.529> by<00:08:59.560> Vlad 00:08:59.910 --> 00:08:59.920 align:start position:0% approach and this was suggested by Vlad 00:08:59.920 --> 00:09:03.150 align:start position:0% approach and this was suggested by Vlad Cynthia<00:09:00.520> at<00:09:00.790> the<00:09:00.910> workshop<00:09:01.529> the<00:09:02.529> insight<00:09:02.920> is 00:09:03.150 --> 00:09:03.160 align:start position:0% Cynthia at the workshop the insight is 00:09:03.160 --> 00:09:06.030 align:start position:0% Cynthia at the workshop the insight is that<00:09:03.640> the<00:09:04.390> goal<00:09:04.600> of<00:09:04.930> having<00:09:05.200> rent<00:09:05.620> is<00:09:05.860> to 00:09:06.030 --> 00:09:06.040 align:start position:0% that the goal of having rent is to 00:09:06.040 --> 00:09:08.130 align:start position:0% that the goal of having rent is to encourage<00:09:06.310> deregistration<00:09:07.060> of<00:09:07.480> unpopular 00:09:08.130 --> 00:09:08.140 align:start position:0% encourage deregistration of unpopular 00:09:08.140 --> 00:09:10.320 align:start position:0% encourage deregistration of unpopular names<00:09:08.350> or<00:09:08.650> unused<00:09:09.070> names<00:09:09.340> that<00:09:09.760> aren't<00:09:09.910> wanted 00:09:10.320 --> 00:09:10.330 align:start position:0% names or unused names that aren't wanted 00:09:10.330 --> 00:09:12.900 align:start position:0% names or unused names that aren't wanted and<00:09:10.510> so<00:09:11.200> we<00:09:11.320> can<00:09:11.470> monitor<00:09:11.950> the<00:09:11.980> D<00:09:12.220> registration 00:09:12.900 --> 00:09:12.910 align:start position:0% and so we can monitor the D registration 00:09:12.910 --> 00:09:14.550 align:start position:0% and so we can monitor the D registration rate<00:09:13.120> which<00:09:13.390> is<00:09:13.540> the<00:09:13.660> blue<00:09:13.839> line<00:09:14.050> there<00:09:14.290> and 00:09:14.550 --> 00:09:14.560 align:start position:0% rate which is the blue line there and 00:09:14.560 --> 00:09:17.100 align:start position:0% rate which is the blue line there and set<00:09:15.160> a<00:09:15.190> target<00:09:15.520> D<00:09:15.850> registration<00:09:16.510> rate<00:09:16.690> the 00:09:17.100 --> 00:09:17.110 align:start position:0% set a target D registration rate the 00:09:17.110 --> 00:09:18.870 align:start position:0% set a target D registration rate the contract<00:09:17.560> can<00:09:17.710> monitor<00:09:18.160> how<00:09:18.310> many<00:09:18.490> names<00:09:18.670> are 00:09:18.870 --> 00:09:18.880 align:start position:0% contract can monitor how many names are 00:09:18.880 --> 00:09:20.519 align:start position:0% contract can monitor how many names are being<00:09:18.970> deregistered<00:09:19.630> and<00:09:19.810> then<00:09:20.290> it<00:09:20.380> can 00:09:20.519 --> 00:09:20.529 align:start position:0% being deregistered and then it can 00:09:20.529 --> 00:09:22.320 align:start position:0% being deregistered and then it can adjust<00:09:20.890> the<00:09:21.070> rent<00:09:21.250> price<00:09:21.460> to<00:09:22.000> attempt<00:09:22.270> to 00:09:22.320 --> 00:09:22.330 align:start position:0% adjust the rent price to attempt to 00:09:22.330 --> 00:09:24.690 align:start position:0% adjust the rent price to attempt to maintain<00:09:22.810> a<00:09:22.839> fixed<00:09:23.260> rate<00:09:23.470> so<00:09:24.339> in<00:09:24.430> this<00:09:24.520> example 00:09:24.690 --> 00:09:24.700 align:start position:0% maintain a fixed rate so in this example 00:09:24.700 --> 00:09:27.210 align:start position:0% maintain a fixed rate so in this example here<00:09:25.060> some<00:09:25.839> external<00:09:26.320> event<00:09:26.620> perhaps<00:09:26.980> an 00:09:27.210 --> 00:09:27.220 align:start position:0% here some external event perhaps an 00:09:27.220 --> 00:09:29.430 align:start position:0% here some external event perhaps an increase<00:09:27.580> in<00:09:27.790> the<00:09:27.910> price<00:09:28.089> of<00:09:28.150> ether<00:09:28.600> results 00:09:29.430 --> 00:09:29.440 align:start position:0% increase in the price of ether results 00:09:29.440 --> 00:09:31.650 align:start position:0% increase in the price of ether results in<00:09:29.620> a<00:09:29.950> spike<00:09:30.400> in<00:09:30.640> the<00:09:30.760> D<00:09:30.880> registration<00:09:31.480> rate 00:09:31.650 --> 00:09:31.660 align:start position:0% in a spike in the D registration rate 00:09:31.660 --> 00:09:34.590 align:start position:0% in a spike in the D registration rate and<00:09:32.020> the<00:09:32.740> Registrar<00:09:33.400> responds<00:09:33.970> by<00:09:34.120> decreasing 00:09:34.590 --> 00:09:34.600 align:start position:0% and the Registrar responds by decreasing 00:09:34.600 --> 00:09:37.650 align:start position:0% and the Registrar responds by decreasing the<00:09:34.900> rent<00:09:35.110> until<00:09:35.770> it<00:09:36.040> reaches<00:09:36.730> a<00:09:36.760> stable<00:09:37.360> level 00:09:37.650 --> 00:09:37.660 align:start position:0% the rent until it reaches a stable level 00:09:37.660 --> 00:09:40.290 align:start position:0% the rent until it reaches a stable level again<00:09:38.230> and<00:09:38.440> you<00:09:39.160> can<00:09:39.279> see<00:09:39.430> here<00:09:39.640> another<00:09:39.940> event 00:09:40.290 --> 00:09:40.300 align:start position:0% again and you can see here another event 00:09:40.300 --> 00:09:43.460 align:start position:0% again and you can see here another event perhaps<00:09:40.779> increasing<00:09:41.500> popularity<00:09:42.040> and<00:09:42.370> ENS 00:09:43.460 --> 00:09:43.470 align:start position:0% perhaps increasing popularity and ENS 00:09:43.470 --> 00:09:45.660 align:start position:0% perhaps increasing popularity and ENS results<00:09:44.470> in<00:09:44.620> a<00:09:44.740> decrease<00:09:45.250> in<00:09:45.430> the<00:09:45.550> D 00:09:45.660 --> 00:09:45.670 align:start position:0% results in a decrease in the D 00:09:45.670 --> 00:09:47.970 align:start position:0% results in a decrease in the D registration<00:09:46.300> rate<00:09:46.480> and<00:09:46.720> the<00:09:47.410> Registrar 00:09:47.970 --> 00:09:47.980 align:start position:0% registration rate and the Registrar 00:09:47.980 --> 00:09:49.829 align:start position:0% registration rate and the Registrar responds<00:09:48.430> by<00:09:48.610> again<00:09:48.850> increasing<00:09:49.540> the<00:09:49.630> price 00:09:49.829 --> 00:09:49.839 align:start position:0% responds by again increasing the price 00:09:49.839 --> 00:09:54.900 align:start position:0% responds by again increasing the price until<00:09:50.200> it's<00:09:50.350> stable<00:09:52.440> the<00:09:53.440> next<00:09:53.770> issue<00:09:54.430> that<00:09:54.670> we 00:09:54.900 --> 00:09:54.910 align:start position:0% until it's stable the next issue that we 00:09:54.910 --> 00:09:56.730 align:start position:0% until it's stable the next issue that we addressed<00:09:55.270> and<00:09:55.990> this<00:09:56.110> has<00:09:56.230> actually<00:09:56.380> come<00:09:56.710> up 00:09:56.730 --> 00:09:56.740 align:start position:0% addressed and this has actually come up 00:09:56.740 --> 00:09:59.220 align:start position:0% addressed and this has actually come up largely<00:09:57.420> subsequent<00:09:58.420> to<00:09:58.510> the<00:09:58.600> workshop<00:09:58.990> and 00:09:59.220 --> 00:09:59.230 align:start position:0% largely subsequent to the workshop and 00:09:59.230 --> 00:10:00.840 align:start position:0% largely subsequent to the workshop and as<00:09:59.320> a<00:09:59.380> result<00:09:59.710> of<00:09:59.860> discussions<00:10:00.070> in<00:10:00.730> our 00:10:00.840 --> 00:10:00.850 align:start position:0% as a result of discussions in our 00:10:00.850 --> 00:10:03.870 align:start position:0% as a result of discussions in our internal<00:10:01.210> gears<00:10:01.420> or<00:10:01.510> channels<00:10:02.310> was<00:10:03.310> ways<00:10:03.520> to 00:10:03.870 --> 00:10:03.880 align:start position:0% internal gears or channels was ways to 00:10:03.880 --> 00:10:07.140 align:start position:0% internal gears or channels was ways to simplify<00:10:04.420> the<00:10:04.480> option<00:10:04.960> mechanism<00:10:06.150> although 00:10:07.140 --> 00:10:07.150 align:start position:0% simplify the option mechanism although 00:10:07.150 --> 00:10:09.570 align:start position:0% simplify the option mechanism although it's<00:10:07.630> generally<00:10:08.140> behaved<00:10:08.470> quite<00:10:08.770> well<00:10:09.010> there 00:10:09.570 --> 00:10:09.580 align:start position:0% it's generally behaved quite well there 00:10:09.580 --> 00:10:11.400 align:start position:0% it's generally behaved quite well there is<00:10:09.700> some<00:10:09.910> inevitable<00:10:10.390> information<00:10:11.050> leakage 00:10:11.400 --> 00:10:11.410 align:start position:0% is some inevitable information leakage 00:10:11.410 --> 00:10:12.960 align:start position:0% is some inevitable information leakage in<00:10:11.650> that<00:10:11.770> you<00:10:11.860> have<00:10:11.980> to<00:10:12.100> start<00:10:12.370> an<00:10:12.610> auction<00:10:12.730> on 00:10:12.960 --> 00:10:12.970 align:start position:0% in that you have to start an auction on 00:10:12.970 --> 00:10:15.090 align:start position:0% in that you have to start an auction on a<00:10:13.030> name<00:10:13.300> in<00:10:13.540> order<00:10:13.660> to<00:10:13.810> bid<00:10:14.050> on<00:10:14.170> it<00:10:14.200> and<00:10:14.530> that 00:10:15.090 --> 00:10:15.100 align:start position:0% a name in order to bid on it and that 00:10:15.100 --> 00:10:16.680 align:start position:0% a name in order to bid on it and that provides<00:10:15.460> some<00:10:15.700> information<00:10:16.270> to<00:10:16.360> people<00:10:16.450> on 00:10:16.680 --> 00:10:16.690 align:start position:0% provides some information to people on 00:10:16.690 --> 00:10:18.060 align:start position:0% provides some information to people on what<00:10:16.900> names<00:10:17.170> you're<00:10:17.440> likely<00:10:17.620> to<00:10:17.800> be<00:10:17.890> bidding 00:10:18.060 --> 00:10:18.070 align:start position:0% what names you're likely to be bidding 00:10:18.070 --> 00:10:20.220 align:start position:0% what names you're likely to be bidding on<00:10:18.280> and<00:10:18.580> what<00:10:18.700> names<00:10:18.940> are<00:10:19.210> up<00:10:19.630> for<00:10:19.839> auction<00:10:19.930> in 00:10:20.220 --> 00:10:20.230 align:start position:0% on and what names are up for auction in 00:10:20.230 --> 00:10:22.740 align:start position:0% on and what names are up for auction in general<00:10:20.589> and<00:10:20.860> this<00:10:21.250> can<00:10:21.430> be<00:10:21.550> disguised<00:10:21.880> by 00:10:22.740 --> 00:10:22.750 align:start position:0% general and this can be disguised by 00:10:22.750 --> 00:10:24.780 align:start position:0% general and this can be disguised by opening<00:10:23.260> sort<00:10:23.530> of<00:10:23.620> chaff<00:10:23.890> options<00:10:24.430> alongside 00:10:24.780 --> 00:10:24.790 align:start position:0% opening sort of chaff options alongside 00:10:24.790 --> 00:10:26.910 align:start position:0% opening sort of chaff options alongside the<00:10:25.150> real<00:10:25.300> ones<00:10:25.540> but<00:10:25.810> this<00:10:26.320> disguise<00:10:26.710> isn't 00:10:26.910 --> 00:10:26.920 align:start position:0% the real ones but this disguise isn't 00:10:26.920 --> 00:10:29.670 align:start position:0% the real ones but this disguise isn't perfect<00:10:27.460> so<00:10:27.730> our<00:10:28.480> proposal<00:10:29.410> for<00:10:29.440> the 00:10:29.670 --> 00:10:29.680 align:start position:0% perfect so our proposal for the 00:10:29.680 --> 00:10:31.320 align:start position:0% perfect so our proposal for the permanent<00:10:30.040> registrar<00:10:30.490> is<00:10:30.730> to<00:10:30.880> switch<00:10:31.089> to<00:10:31.300> a 00:10:31.320 --> 00:10:31.330 align:start position:0% permanent registrar is to switch to a 00:10:31.330 --> 00:10:33.660 align:start position:0% permanent registrar is to switch to a rolling<00:10:31.780> option<00:10:32.140> mechanism<00:10:32.620> the<00:10:33.339> way<00:10:33.460> this 00:10:33.660 --> 00:10:33.670 align:start position:0% rolling option mechanism the way this 00:10:33.670 --> 00:10:37.290 align:start position:0% rolling option mechanism the way this works<00:10:33.880> is<00:10:34.350> auction<00:10:35.350> period<00:10:35.500> start<00:10:36.040> every<00:10:37.000> 48 00:10:37.290 --> 00:10:37.300 align:start position:0% works is auction period start every 48 00:10:37.300 --> 00:10:39.180 align:start position:0% works is auction period start every 48 hours<00:10:37.510> in<00:10:37.839> this<00:10:37.930> example<00:10:38.290> and<00:10:38.620> you<00:10:39.040> have<00:10:39.160> a 00:10:39.180 --> 00:10:39.190 align:start position:0% hours in this example and you have a 00:10:39.190 --> 00:10:41.520 align:start position:0% hours in this example and you have a 48-hour<00:10:39.760> bid<00:10:40.209> period<00:10:40.450> during<00:10:40.990> which<00:10:41.140> anybody 00:10:41.520 --> 00:10:41.530 align:start position:0% 48-hour bid period during which anybody 00:10:41.530 --> 00:10:44.040 align:start position:0% 48-hour bid period during which anybody can<00:10:41.740> bid<00:10:42.100> on<00:10:42.339> any<00:10:42.490> unknown<00:10:42.850> name<00:10:43.150> and<00:10:43.450> that's 00:10:44.040 --> 00:10:44.050 align:start position:0% can bid on any unknown name and that's 00:10:44.050 --> 00:10:46.260 align:start position:0% can bid on any unknown name and that's immediately<00:10:44.560> followed<00:10:44.950> by<00:10:44.980> a<00:10:45.160> 48-hour<00:10:45.790> reveal 00:10:46.260 --> 00:10:46.270 align:start position:0% immediately followed by a 48-hour reveal 00:10:46.270 --> 00:10:48.329 align:start position:0% immediately followed by a 48-hour reveal period<00:10:46.720> during<00:10:47.320> which<00:10:47.470> anyone<00:10:47.890> who<00:10:48.010> bids 00:10:48.329 --> 00:10:48.339 align:start position:0% period during which anyone who bids 00:10:48.339 --> 00:10:50.850 align:start position:0% period during which anyone who bids needs<00:10:48.640> to<00:10:48.820> reveal<00:10:49.089> the<00:10:49.240> name<00:10:49.860> simultaneous 00:10:50.850 --> 00:10:50.860 align:start position:0% needs to reveal the name simultaneous 00:10:50.860 --> 00:10:52.740 align:start position:0% needs to reveal the name simultaneous with<00:10:51.040> the<00:10:51.130> start<00:10:51.400> of<00:10:51.580> the<00:10:51.640> first<00:10:52.420> reveal 00:10:52.740 --> 00:10:52.750 align:start position:0% with the start of the first reveal 00:10:52.750 --> 00:10:56.070 align:start position:0% with the start of the first reveal period<00:10:53.230> a<00:10:53.410> second<00:10:54.070> bid<00:10:54.220> period<00:10:54.610> starts<00:10:55.080> and 00:10:56.070 --> 00:10:56.080 align:start position:0% period a second bid period starts and 00:10:56.080 --> 00:10:58.050 align:start position:0% period a second bid period starts and again<00:10:56.440> any<00:10:56.740> unregistered<00:10:57.400> name<00:10:57.580> can<00:10:57.820> be<00:10:57.850> bid 00:10:58.050 --> 00:10:58.060 align:start position:0% again any unregistered name can be bid 00:10:58.060 --> 00:11:01.410 align:start position:0% again any unregistered name can be bid on<00:10:58.209> if<00:10:58.870> somebody<00:10:59.350> bid<00:11:00.250> on<00:11:00.490> a<00:11:00.520> name<00:11:00.760> in<00:11:01.089> phase 00:11:01.410 --> 00:11:01.420 align:start position:0% on if somebody bid on a name in phase 00:11:01.420 --> 00:11:03.510 align:start position:0% on if somebody bid on a name in phase one<00:11:01.690> and<00:11:01.959> then<00:11:02.470> another<00:11:02.650> person<00:11:02.890> bids<00:11:03.279> on<00:11:03.430> the 00:11:03.510 --> 00:11:03.520 align:start position:0% one and then another person bids on the 00:11:03.520 --> 00:11:05.520 align:start position:0% one and then another person bids on the name<00:11:03.640> in<00:11:03.760> phase<00:11:03.940> two<00:11:04.270> then<00:11:04.959> when<00:11:05.140> the<00:11:05.230> name<00:11:05.380> is 00:11:05.520 --> 00:11:05.530 align:start position:0% name in phase two then when the name is 00:11:05.530 --> 00:11:07.100 align:start position:0% name in phase two then when the name is revealed<00:11:05.830> they<00:11:06.100> simply<00:11:06.430> get<00:11:06.550> a<00:11:06.610> full<00:11:06.820> refund 00:11:07.100 --> 00:11:07.110 align:start position:0% revealed they simply get a full refund 00:11:07.110 --> 00:11:09.319 align:start position:0% revealed they simply get a full refund the<00:11:08.110> result<00:11:08.470> of<00:11:08.620> this<00:11:08.770> is 00:11:09.319 --> 00:11:09.329 align:start position:0% the result of this is 00:11:09.329 --> 00:11:11.960 align:start position:0% the result of this is that<00:11:09.509> there's<00:11:10.439> no<00:11:10.709> information<00:11:10.980> leaked<00:11:11.549> as<00:11:11.790> to 00:11:11.960 --> 00:11:11.970 align:start position:0% that there's no information leaked as to 00:11:11.970 --> 00:11:13.850 align:start position:0% that there's no information leaked as to what<00:11:12.089> names<00:11:12.360> are<00:11:12.600> being<00:11:12.689> optioned<00:11:13.230> which 00:11:13.850 --> 00:11:13.860 align:start position:0% what names are being optioned which 00:11:13.860 --> 00:11:15.619 align:start position:0% what names are being optioned which means<00:11:14.129> that<00:11:14.309> people<00:11:14.579> have<00:11:14.730> to<00:11:14.910> bid<00:11:15.389> the 00:11:15.619 --> 00:11:15.629 align:start position:0% means that people have to bid the 00:11:15.629 --> 00:11:17.150 align:start position:0% means that people have to bid the legitimate<00:11:16.019> value<00:11:16.230> of<00:11:16.439> the<00:11:16.529> names<00:11:16.739> they<00:11:16.860> want 00:11:17.150 --> 00:11:17.160 align:start position:0% legitimate value of the names they want 00:11:17.160 --> 00:11:19.340 align:start position:0% legitimate value of the names they want rather<00:11:17.489> than<00:11:17.670> sort<00:11:18.059> of<00:11:18.089> sniping<00:11:18.689> and<00:11:18.899> griefing 00:11:19.340 --> 00:11:19.350 align:start position:0% rather than sort of sniping and griefing 00:11:19.350 --> 00:11:21.949 align:start position:0% rather than sort of sniping and griefing the<00:11:19.470> system<00:11:19.860> and<00:11:20.100> this<00:11:20.699> continues<00:11:21.360> on<00:11:21.689> an 00:11:21.949 --> 00:11:21.959 align:start position:0% the system and this continues on an 00:11:21.959 --> 00:11:24.199 align:start position:0% the system and this continues on an ongoing<00:11:22.079> basis<00:11:22.799> with<00:11:23.040> bid<00:11:23.790> periods 00:11:24.199 --> 00:11:24.209 align:start position:0% ongoing basis with bid periods 00:11:24.209 --> 00:11:26.329 align:start position:0% ongoing basis with bid periods automatically<00:11:24.809> starting<00:11:25.290> it<00:11:26.189> also 00:11:26.329 --> 00:11:26.339 align:start position:0% automatically starting it also 00:11:26.339 --> 00:11:28.489 align:start position:0% automatically starting it also simplifies<00:11:26.730> the<00:11:27.179> system<00:11:27.509> it<00:11:27.689> reduces<00:11:28.350> the 00:11:28.489 --> 00:11:28.499 align:start position:0% simplifies the system it reduces the 00:11:28.499 --> 00:11:29.869 align:start position:0% simplifies the system it reduces the number<00:11:28.529> of<00:11:28.769> interactions<00:11:29.160> you<00:11:29.549> need<00:11:29.699> to 00:11:29.869 --> 00:11:29.879 align:start position:0% number of interactions you need to 00:11:29.879 --> 00:11:35.239 align:start position:0% number of interactions you need to engage<00:11:30.029> with<00:11:30.209> the<00:11:30.600> system<00:11:30.959> by<00:11:31.199> one<00:11:33.889> so<00:11:34.889> the 00:11:35.239 --> 00:11:35.249 align:start position:0% engage with the system by one so the 00:11:35.249 --> 00:11:38.539 align:start position:0% engage with the system by one so the next<00:11:35.279> feature<00:11:35.639> I'd<00:11:35.939> like<00:11:36.089> to<00:11:36.299> announce<00:11:37.549> this 00:11:38.539 --> 00:11:38.549 align:start position:0% next feature I'd like to announce this 00:11:38.549 --> 00:11:40.759 align:start position:0% next feature I'd like to announce this as<00:11:38.790> you<00:11:39.449> can<00:11:39.600> see<00:11:39.809> is<00:11:40.019> a<00:11:40.049> perfectly<00:11:40.529> ordinary 00:11:40.759 --> 00:11:40.769 align:start position:0% as you can see is a perfectly ordinary 00:11:40.769 --> 00:11:43.389 align:start position:0% as you can see is a perfectly ordinary my<00:11:41.129> ether<00:11:41.399> wallet<00:11:41.699> instance<00:11:42.509> this<00:11:42.869> is<00:11:42.989> on<00:11:43.139> the 00:11:43.389 --> 00:11:43.399 align:start position:0% my ether wallet instance this is on the 00:11:43.399 --> 00:11:45.979 align:start position:0% my ether wallet instance this is on the Internet<00:11:44.399> publicans<00:11:45.089> you<00:11:45.600> can<00:11:45.749> see<00:11:45.869> it's 00:11:45.979 --> 00:11:45.989 align:start position:0% Internet publicans you can see it's 00:11:45.989 --> 00:11:49.910 align:start position:0% Internet publicans you can see it's connected<00:11:46.410> to<00:11:46.439> Roxton<00:11:46.980> and<00:11:47.790> I<00:11:48.269> as<00:11:48.540> you<00:11:49.110> know<00:11:49.259> my 00:11:49.910 --> 00:11:49.920 align:start position:0% connected to Roxton and I as you know my 00:11:49.920 --> 00:11:52.100 align:start position:0% connected to Roxton and I as you know my ether<00:11:50.160> wallet<00:11:50.429> has<00:11:50.549> had<00:11:50.730> support<00:11:51.119> for<00:11:51.509> DNS 00:11:52.100 --> 00:11:52.110 align:start position:0% ether wallet has had support for DNS 00:11:52.110 --> 00:11:54.350 align:start position:0% ether wallet has had support for DNS names<00:11:52.350> since<00:11:52.649> day<00:11:52.829> one<00:11:53.040> what<00:11:53.759> it<00:11:53.850> hasn't<00:11:54.179> had 00:11:54.350 --> 00:11:54.360 align:start position:0% names since day one what it hasn't had 00:11:54.360 --> 00:11:59.919 align:start position:0% names since day one what it hasn't had is<00:11:54.689> the<00:11:55.049> support<00:11:55.379> to<00:11:55.499> resolve<00:11:55.769> these<00:11:55.980> names 00:11:59.919 --> 00:11:59.929 align:start position:0% 00:11:59.929 --> 00:12:02.989 align:start position:0% last<00:12:00.929> and<00:12:01.259> that's<00:12:01.949> the<00:12:02.100> problem<00:12:02.309> with<00:12:02.639> doing<00:12:02.790> a 00:12:02.989 --> 00:12:02.999 align:start position:0% last and that's the problem with doing a 00:12:02.999 --> 00:12:06.049 align:start position:0% last and that's the problem with doing a presentation<00:12:03.509> on<00:12:04.049> screen<00:12:04.639> if<00:12:05.639> this<00:12:05.879> was 00:12:06.049 --> 00:12:06.059 align:start position:0% presentation on screen if this was 00:12:06.059 --> 00:12:07.340 align:start position:0% presentation on screen if this was working<00:12:06.480> and<00:12:06.720> I'm<00:12:06.809> going<00:12:06.959> to<00:12:07.019> blame<00:12:07.139> the 00:12:07.340 --> 00:12:07.350 align:start position:0% working and I'm going to blame the 00:12:07.350 --> 00:12:09.319 align:start position:0% working and I'm going to blame the internet<00:12:07.679> connection<00:12:08.029> what<00:12:09.029> you<00:12:09.119> would<00:12:09.239> have 00:12:09.319 --> 00:12:09.329 align:start position:0% internet connection what you would have 00:12:09.329 --> 00:12:10.400 align:start position:0% internet connection what you would have seen<00:12:09.540> there<00:12:09.959> we<00:12:10.049> go 00:12:10.400 --> 00:12:10.410 align:start position:0% seen there we go 00:12:10.410 --> 00:12:12.619 align:start position:0% seen there we go it's<00:12:10.649> correctly<00:12:11.100> resolving<00:12:11.730> an<00:12:11.939> earnest 00:12:12.619 --> 00:12:12.629 align:start position:0% it's correctly resolving an earnest 00:12:12.629 --> 00:12:17.600 align:start position:0% it's correctly resolving an earnest address<00:12:13.049> for<00:12:13.829> an<00:12:14.100> XYZ<00:12:14.759> domain<00:12:16.009> and<00:12:17.009> to<00:12:17.309> figure 00:12:17.600 --> 00:12:17.610 align:start position:0% address for an XYZ domain and to figure 00:12:17.610 --> 00:12:20.359 align:start position:0% address for an XYZ domain and to figure out<00:12:17.730> why<00:12:17.939> this<00:12:17.999> how<00:12:18.809> this<00:12:18.989> works<00:12:19.230> we<00:12:20.129> need<00:12:20.279> to 00:12:20.359 --> 00:12:20.369 align:start position:0% out why this how this works we need to 00:12:20.369 --> 00:12:21.889 align:start position:0% out why this how this works we need to take<00:12:20.519> a<00:12:20.579> bit<00:12:20.759> of<00:12:20.790> a<00:12:20.879> diversion<00:12:21.299> and<00:12:21.480> talk<00:12:21.749> about 00:12:21.889 --> 00:12:21.899 align:start position:0% take a bit of a diversion and talk about 00:12:21.899 --> 00:12:26.090 align:start position:0% take a bit of a diversion and talk about DNS<00:12:22.439> SEC<00:12:23.660> DNS<00:12:24.660> SEC<00:12:24.929> establishes<00:12:25.709> a<00:12:25.739> chain<00:12:26.069> of 00:12:26.090 --> 00:12:26.100 align:start position:0% DNS SEC DNS SEC establishes a chain of 00:12:26.100 --> 00:12:30.139 align:start position:0% DNS SEC DNS SEC establishes a chain of trust<00:12:26.929> from<00:12:27.929> the<00:12:27.989> root<00:12:28.589> key<00:12:29.369> which<00:12:29.669> is<00:12:29.850> signed 00:12:30.139 --> 00:12:30.149 align:start position:0% trust from the root key which is signed 00:12:30.149 --> 00:12:36.079 align:start position:0% trust from the root key which is signed by<00:12:30.980> ICANN<00:12:31.980> and<00:12:32.730> down<00:12:33.689> through<00:12:34.199> each<00:12:34.679> key<00:12:35.369> so<00:12:35.910> we 00:12:36.079 --> 00:12:36.089 align:start position:0% by ICANN and down through each key so we 00:12:36.089 --> 00:12:39.019 align:start position:0% by ICANN and down through each key so we start<00:12:36.389> off<00:12:36.509> knowing<00:12:36.959> only<00:12:37.110> the<00:12:37.559> hash<00:12:38.489> of<00:12:38.730> the 00:12:39.019 --> 00:12:39.029 align:start position:0% start off knowing only the hash of the 00:12:39.029 --> 00:12:41.869 align:start position:0% start off knowing only the hash of the root<00:12:39.209> key<00:12:39.480> of<00:12:39.779> D<00:12:40.139> NS<00:12:40.379> and<00:12:40.649> this<00:12:41.220> is<00:12:41.279> coded<00:12:41.759> into 00:12:41.869 --> 00:12:41.879 align:start position:0% root key of D NS and this is coded into 00:12:41.879 --> 00:12:45.079 align:start position:0% root key of D NS and this is coded into a<00:12:41.999> smart<00:12:42.329> contract<00:12:42.540> Oracle<00:12:43.549> given<00:12:44.549> that<00:12:44.730> given 00:12:45.079 --> 00:12:45.089 align:start position:0% a smart contract Oracle given that given 00:12:45.089 --> 00:12:47.720 align:start position:0% a smart contract Oracle given that given the<00:12:45.269> hash<00:12:45.419> of<00:12:45.600> that<00:12:45.749> key<00:12:45.989> we<00:12:46.949> can<00:12:47.100> pass<00:12:47.309> in<00:12:47.579> the 00:12:47.720 --> 00:12:47.730 align:start position:0% the hash of that key we can pass in the 00:12:47.730 --> 00:12:49.879 align:start position:0% the hash of that key we can pass in the actual<00:12:48.089> key<00:12:48.299> we<00:12:48.959> can<00:12:49.110> verify<00:12:49.290> that<00:12:49.529> it<00:12:49.739> matches 00:12:49.879 --> 00:12:49.889 align:start position:0% actual key we can verify that it matches 00:12:49.889 --> 00:12:51.710 align:start position:0% actual key we can verify that it matches the<00:12:50.069> hash<00:12:50.279> and<00:12:50.519> we<00:12:50.639> can<00:12:50.790> add<00:12:50.910> it<00:12:51.059> to<00:12:51.089> our<00:12:51.299> set<00:12:51.600> of 00:12:51.710 --> 00:12:51.720 align:start position:0% the hash and we can add it to our set of 00:12:51.720 --> 00:12:54.739 align:start position:0% the hash and we can add it to our set of trusted<00:12:52.139> records<00:12:52.499> and<00:12:53.029> given<00:12:54.029> that<00:12:54.179> key<00:12:54.389> we 00:12:54.739 --> 00:12:54.749 align:start position:0% trusted records and given that key we 00:12:54.749 --> 00:12:56.780 align:start position:0% trusted records and given that key we can<00:12:54.779> now<00:12:55.019> verify<00:12:55.319> any<00:12:55.860> record<00:12:56.249> that<00:12:56.429> is<00:12:56.519> signed 00:12:56.780 --> 00:12:56.790 align:start position:0% can now verify any record that is signed 00:12:56.790 --> 00:12:58.789 align:start position:0% can now verify any record that is signed with<00:12:56.939> that<00:12:57.089> key<00:12:57.299> so<00:12:57.899> in<00:12:57.989> this<00:12:58.079> case<00:12:58.350> it's<00:12:58.649> the 00:12:58.789 --> 00:12:58.799 align:start position:0% with that key so in this case it's the 00:12:58.799 --> 00:13:00.949 align:start position:0% with that key so in this case it's the hash<00:12:58.980> of<00:12:59.279> the<00:12:59.610> root<00:12:59.759> key<00:13:00.029> for<00:13:00.389> the<00:13:00.509> XYZ 00:13:00.949 --> 00:13:00.959 align:start position:0% hash of the root key for the XYZ 00:13:00.959 --> 00:13:04.189 align:start position:0% hash of the root key for the XYZ top-level<00:13:01.559> domain<00:13:01.919> and<00:13:02.480> given<00:13:03.480> that<00:13:03.629> then<00:13:03.959> we 00:13:04.189 --> 00:13:04.199 align:start position:0% top-level domain and given that then we 00:13:04.199 --> 00:13:06.889 align:start position:0% top-level domain and given that then we can<00:13:04.410> recognize<00:13:05.009> the<00:13:05.339> key<00:13:05.549> and<00:13:05.819> so<00:13:06.449> on<00:13:06.600> and<00:13:06.749> so 00:13:06.889 --> 00:13:06.899 align:start position:0% can recognize the key and so on and so 00:13:06.899 --> 00:13:09.679 align:start position:0% can recognize the key and so on and so forth<00:13:07.199> so<00:13:07.439> next<00:13:08.249> we<00:13:08.339> can<00:13:08.489> recognize<00:13:08.759> the<00:13:09.540> key 00:13:09.679 --> 00:13:09.689 align:start position:0% forth so next we can recognize the key 00:13:09.689 --> 00:13:12.679 align:start position:0% forth so next we can recognize the key for<00:13:09.899> F<00:13:10.019> lab<00:13:10.290> dot<00:13:10.529> X<00:13:10.679> Y<00:13:10.860> Zed<00:13:11.119> given<00:13:12.119> that<00:13:12.299> we<00:13:12.509> can 00:13:12.679 --> 00:13:12.689 align:start position:0% for F lab dot X Y Zed given that we can 00:13:12.689 --> 00:13:15.739 align:start position:0% for F lab dot X Y Zed given that we can recognize<00:13:13.850> sorry<00:13:14.850> the<00:13:14.939> hash<00:13:15.089> for<00:13:15.269> the<00:13:15.329> key<00:13:15.480> and 00:13:15.739 --> 00:13:15.749 align:start position:0% recognize sorry the hash for the key and 00:13:15.749 --> 00:13:18.350 align:start position:0% recognize sorry the hash for the key and then<00:13:15.959> the<00:13:16.049> key<00:13:16.199> itself<00:13:16.499> and<00:13:16.799> finally<00:13:17.549> we<00:13:18.149> can 00:13:18.350 --> 00:13:18.360 align:start position:0% then the key itself and finally we can 00:13:18.360 --> 00:13:21.169 align:start position:0% then the key itself and finally we can validate<00:13:19.259> a<00:13:19.470> signed<00:13:19.799> text<00:13:20.249> record<00:13:20.610> containing 00:13:21.169 --> 00:13:21.179 align:start position:0% validate a signed text record containing 00:13:21.179 --> 00:13:23.530 align:start position:0% validate a signed text record containing an<00:13:21.360> aetherium<00:13:21.749> address 00:13:23.530 --> 00:13:23.540 align:start position:0% an aetherium address 00:13:23.540 --> 00:13:26.179 align:start position:0% an aetherium address so<00:13:24.540> this<00:13:24.929> is<00:13:25.079> how<00:13:25.199> the<00:13:25.259> overall<00:13:25.619> system<00:13:26.009> works 00:13:26.179 --> 00:13:26.189 align:start position:0% so this is how the overall system works 00:13:26.189 --> 00:13:28.280 align:start position:0% so this is how the overall system works given<00:13:26.670> that<00:13:26.879> chain<00:13:27.269> of<00:13:27.420> trust<00:13:27.660> established 00:13:28.280 --> 00:13:28.290 align:start position:0% given that chain of trust established 00:13:28.290 --> 00:13:32.379 align:start position:0% given that chain of trust established previously<00:13:29.179> users<00:13:30.179> can<00:13:30.360> submit<00:13:30.600> proofs<00:13:31.139> to<00:13:31.649> a 00:13:32.379 --> 00:13:32.389 align:start position:0% previously users can submit proofs to a 00:13:32.389 --> 00:13:35.299 align:start position:0% previously users can submit proofs to a DNS<00:13:33.389> SEC<00:13:33.629> Oracle<00:13:34.110> on<00:13:34.230> the<00:13:34.350> chain<00:13:34.589> and<00:13:34.860> the 00:13:35.299 --> 00:13:35.309 align:start position:0% DNS SEC Oracle on the chain and the 00:13:35.309 --> 00:13:37.129 align:start position:0% DNS SEC Oracle on the chain and the proof<00:13:35.550> is<00:13:35.670> exactly<00:13:36.029> what<00:13:36.239> we<00:13:36.329> saw<00:13:36.509> earlier<00:13:36.899> for 00:13:37.129 --> 00:13:37.139 align:start position:0% proof is exactly what we saw earlier for 00:13:37.139 --> 00:13:38.449 align:start position:0% proof is exactly what we saw earlier for any<00:13:37.259> records<00:13:37.679> that<00:13:37.860> it<00:13:37.980> doesn't<00:13:38.220> know<00:13:38.339> about 00:13:38.449 --> 00:13:38.459 align:start position:0% any records that it doesn't know about 00:13:38.459 --> 00:13:40.669 align:start position:0% any records that it doesn't know about it<00:13:38.850> contains<00:13:39.480> the<00:13:39.660> record<00:13:39.989> and<00:13:40.259> it<00:13:40.350> contains 00:13:40.669 --> 00:13:40.679 align:start position:0% it contains the record and it contains 00:13:40.679 --> 00:13:42.579 align:start position:0% it contains the record and it contains the<00:13:40.769> signature<00:13:41.249> verifying<00:13:41.759> its<00:13:41.939> accuracy 00:13:42.579 --> 00:13:42.589 align:start position:0% the signature verifying its accuracy 00:13:42.589 --> 00:13:45.319 align:start position:0% the signature verifying its accuracy once<00:13:43.589> they've<00:13:43.769> done<00:13:43.920> that<00:13:43.980> the<00:13:44.730> user<00:13:44.939> can<00:13:45.179> call 00:13:45.319 --> 00:13:45.329 align:start position:0% once they've done that the user can call 00:13:45.329 --> 00:13:48.199 align:start position:0% once they've done that the user can call the<00:13:45.480> Registrar<00:13:46.019> the<00:13:46.889> new<00:13:47.040> DNS<00:13:47.459> SEC<00:13:47.639> registrar 00:13:48.199 --> 00:13:48.209 align:start position:0% the Registrar the new DNS SEC registrar 00:13:48.209 --> 00:13:53.119 align:start position:0% the Registrar the new DNS SEC registrar which<00:13:48.869> has<00:13:49.139> a<00:13:49.170> claim<00:13:49.499> function<00:13:51.589> the<00:13:52.589> Registrar 00:13:53.119 --> 00:13:53.129 align:start position:0% which has a claim function the Registrar 00:13:53.129 --> 00:13:55.460 align:start position:0% which has a claim function the Registrar then<00:13:53.339> queries<00:13:53.819> the<00:13:54.029> Oracle<00:13:54.480> and<00:13:54.629> says<00:13:55.170> is 00:13:55.460 --> 00:13:55.470 align:start position:0% then queries the Oracle and says is 00:13:55.470 --> 00:13:57.139 align:start position:0% then queries the Oracle and says is there<00:13:55.649> a<00:13:55.679> text<00:13:56.040> record<00:13:56.399> for<00:13:56.670> the<00:13:56.759> name<00:13:56.939> they're 00:13:57.139 --> 00:13:57.149 align:start position:0% there a text record for the name they're 00:13:57.149 --> 00:13:59.539 align:start position:0% there a text record for the name they're trying<00:13:57.420> to<00:13:57.509> claim<00:13:57.720> and<00:13:58.019> it<00:13:58.739> responds<00:13:59.129> with<00:13:59.279> any 00:13:59.539 --> 00:13:59.549 align:start position:0% trying to claim and it responds with any 00:13:59.549 --> 00:14:02.389 align:start position:0% trying to claim and it responds with any text<00:13:59.759> records<00:14:00.269> and<00:14:00.449> the<00:14:00.899> Registrar<00:14:01.410> passes 00:14:02.389 --> 00:14:02.399 align:start position:0% text records and the Registrar passes 00:14:02.399 --> 00:14:04.460 align:start position:0% text records and the Registrar passes those<00:14:02.549> text<00:14:02.939> records<00:14:03.389> through<00:14:03.569> to<00:14:03.779> many<00:14:03.959> in<00:14:04.410> e 00:14:04.460 --> 00:14:04.470 align:start position:0% those text records through to many in e 00:14:04.470 --> 00:14:07.549 align:start position:0% those text records through to many in e NS<00:14:04.949> addresses<00:14:05.429> if<00:14:06.059> it<00:14:06.269> finds<00:14:06.629> one<00:14:06.809> sry 00:14:07.549 --> 00:14:07.559 align:start position:0% NS addresses if it finds one sry 00:14:07.559 --> 00:14:10.189 align:start position:0% NS addresses if it finds one sry aetherium<00:14:08.129> addresses<00:14:08.639> if<00:14:08.850> it<00:14:08.999> finds<00:14:09.239> one<00:14:09.480> it 00:14:10.189 --> 00:14:10.199 align:start position:0% aetherium addresses if it finds one it 00:14:10.199 --> 00:14:11.929 align:start position:0% aetherium addresses if it finds one it checks<00:14:10.499> it<00:14:10.649> against<00:14:10.949> the<00:14:11.040> caller<00:14:11.249> checks<00:14:11.759> that 00:14:11.929 --> 00:14:11.939 align:start position:0% checks it against the caller checks that 00:14:11.939 --> 00:14:14.329 align:start position:0% checks it against the caller checks that the<00:14:12.119> person<00:14:12.509> who's<00:14:12.689> calling<00:14:13.079> the<00:14:13.339> Registrar 00:14:14.329 --> 00:14:14.339 align:start position:0% the person who's calling the Registrar 00:14:14.339 --> 00:14:17.449 align:start position:0% the person who's calling the Registrar is<00:14:14.369> and<00:14:14.670> fax<00:14:14.910> the<00:14:15.209> address<00:14:15.779> specified<00:14:16.110> and<00:14:16.709> if 00:14:17.449 --> 00:14:17.459 align:start position:0% is and fax the address specified and if 00:14:17.459 --> 00:14:19.369 align:start position:0% is and fax the address specified and if they<00:14:17.579> are<00:14:17.730> then<00:14:18.360> it<00:14:18.480> calls<00:14:18.660> a<00:14:18.809> genious<00:14:19.049> and 00:14:19.369 --> 00:14:19.379 align:start position:0% they are then it calls a genious and 00:14:19.379 --> 00:14:21.739 align:start position:0% they are then it calls a genious and sets<00:14:19.679> the<00:14:19.799> record<00:14:20.069> in<00:14:20.249> ENS<00:14:20.549> and<00:14:20.790> this<00:14:21.509> is<00:14:21.629> now 00:14:21.739 --> 00:14:21.749 align:start position:0% sets the record in ENS and this is now 00:14:21.749 --> 00:14:23.809 align:start position:0% sets the record in ENS and this is now fully<00:14:22.110> functional<00:14:22.410> on<00:14:22.829> the<00:14:23.129> robson<00:14:23.610> test 00:14:23.809 --> 00:14:23.819 align:start position:0% fully functional on the robson test 00:14:23.819 --> 00:14:27.460 align:start position:0% fully functional on the robson test network<00:14:24.179> you<00:14:24.509> can<00:14:24.689> register<00:14:25.259> any<00:14:25.619> DNS<00:14:26.189> domain 00:14:27.460 --> 00:14:27.470 align:start position:0% network you can register any DNS domain 00:14:27.470 --> 00:14:34.489 align:start position:0% network you can register any DNS domain thank<00:14:28.470> you<00:14:32.329> so<00:14:33.329> initially<00:14:33.990> for<00:14:34.049> testing 00:14:34.489 --> 00:14:34.499 align:start position:0% thank you so initially for testing 00:14:34.499 --> 00:14:36.289 align:start position:0% thank you so initially for testing purposes<00:14:34.949> we're<00:14:35.220> starting<00:14:35.670> only<00:14:35.850> with<00:14:36.179> the 00:14:36.289 --> 00:14:36.299 align:start position:0% purposes we're starting only with the 00:14:36.299 --> 00:14:38.419 align:start position:0% purposes we're starting only with the dot<00:14:36.449> X<00:14:36.660> Y<00:14:36.869> Zed<00:14:36.929> top-level<00:14:37.529> domain<00:14:37.889> and<00:14:38.129> we're 00:14:38.419 --> 00:14:38.429 align:start position:0% dot X Y Zed top-level domain and we're 00:14:38.429 --> 00:14:40.400 align:start position:0% dot X Y Zed top-level domain and we're grateful<00:14:38.639> to<00:14:38.970> them<00:14:39.089> to<00:14:39.449> cooperating<00:14:40.139> with<00:14:40.259> us 00:14:40.400 --> 00:14:40.410 align:start position:0% grateful to them to cooperating with us 00:14:40.410 --> 00:14:41.780 align:start position:0% grateful to them to cooperating with us on<00:14:40.589> this 00:14:41.780 --> 00:14:41.790 align:start position:0% on this 00:14:41.790 --> 00:14:44.480 align:start position:0% on this but<00:14:42.389> in<00:14:42.540> principle<00:14:42.779> this<00:14:43.290> can<00:14:43.529> be<00:14:43.679> expanded<00:14:44.069> to 00:14:44.480 --> 00:14:44.490 align:start position:0% but in principle this can be expanded to 00:14:44.490 --> 00:14:48.259 align:start position:0% but in principle this can be expanded to any<00:14:44.850> DNS<00:14:45.299> SEC<00:14:45.540> domain<00:14:45.899> that<00:14:46.439> supports<00:14:47.269> SiC 00:14:48.259 --> 00:14:48.269 align:start position:0% any DNS SEC domain that supports SiC 00:14:48.269 --> 00:14:53.299 align:start position:0% any DNS SEC domain that supports SiC Peter<00:14:48.540> sorry<00:14:48.929> RSA<00:14:49.860> and<00:14:50.220> char<00:14:50.639> 256<00:14:51.329> so<00:14:52.309> well 00:14:53.299 --> 00:14:53.309 align:start position:0% Peter sorry RSA and char 256 so well 00:14:53.309 --> 00:14:54.859 align:start position:0% Peter sorry RSA and char 256 so well will<00:14:53.549> initially<00:14:53.819> start<00:14:53.999> off<00:14:54.360> with<00:14:54.509> this<00:14:54.660> and 00:14:54.859 --> 00:14:54.869 align:start position:0% will initially start off with this and 00:14:54.869 --> 00:14:57.470 align:start position:0% will initially start off with this and migrate<00:14:55.799> to<00:14:55.829> main<00:14:56.129> it<00:14:56.339> initially<00:14:56.819> with<00:14:56.970> it<00:14:57.149> we 00:14:57.470 --> 00:14:57.480 align:start position:0% migrate to main it initially with it we 00:14:57.480 --> 00:14:58.999 align:start position:0% migrate to main it initially with it we want<00:14:57.660> to<00:14:57.749> expand<00:14:58.139> it<00:14:58.199> out<00:14:58.319> to<00:14:58.499> support<00:14:58.679> all<00:14:58.889> of 00:14:58.999 --> 00:14:59.009 align:start position:0% want to expand it out to support all of 00:14:59.009 --> 00:15:01.220 align:start position:0% want to expand it out to support all of those<00:14:59.129> domains<00:14:59.339> so<00:15:00.119> that<00:15:00.149> means<00:15:00.420> not<00:15:00.660> just<00:15:00.899> X<00:15:01.079> Y 00:15:01.220 --> 00:15:01.230 align:start position:0% those domains so that means not just X Y 00:15:01.230 --> 00:15:04.900 align:start position:0% those domains so that means not just X Y Zed<00:15:01.559> but<00:15:02.309> also<00:15:02.490> all<00:15:02.879> of<00:15:02.999> these<00:15:03.179> domains<00:15:03.360> and 00:15:04.900 --> 00:15:04.910 align:start position:0% Zed but also all of these domains and 00:15:04.910 --> 00:15:08.689 align:start position:0% Zed but also all of these domains and all<00:15:05.910> of<00:15:06.029> these<00:15:06.179> domains<00:15:06.329> and<00:15:07.279> these<00:15:08.279> domains 00:15:08.689 --> 00:15:08.699 align:start position:0% all of these domains and these domains 00:15:08.699 --> 00:15:11.419 align:start position:0% all of these domains and these domains and<00:15:09.089> these<00:15:09.480> domains<00:15:09.869> and<00:15:10.230> these<00:15:10.649> domains<00:15:11.040> and 00:15:11.419 --> 00:15:11.429 align:start position:0% and these domains and these domains and 00:15:11.429 --> 00:15:13.970 align:start position:0% and these domains and these domains and these<00:15:11.639> domains<00:15:11.819> and<00:15:12.389> these<00:15:12.540> domains<00:15:12.749> and<00:15:13.230> it 00:15:13.970 --> 00:15:13.980 align:start position:0% these domains and these domains and it 00:15:13.980 --> 00:15:18.470 align:start position:0% these domains and these domains and it ends<00:15:14.279> at<00:15:14.399> some<00:15:14.579> point<00:15:16.910> there<00:15:17.910> we<00:15:17.970> go<00:15:18.119> and<00:15:18.329> all 00:15:18.470 --> 00:15:18.480 align:start position:0% ends at some point there we go and all 00:15:18.480 --> 00:15:20.780 align:start position:0% ends at some point there we go and all of<00:15:18.629> those<00:15:18.779> in<00:15:19.139> total<00:15:19.769> about<00:15:19.949> three-quarters 00:15:20.780 --> 00:15:20.790 align:start position:0% of those in total about three-quarters 00:15:20.790 --> 00:15:23.030 align:start position:0% of those in total about three-quarters of<00:15:20.819> Internet<00:15:21.569> TLDs<00:15:22.110> currently<00:15:22.619> support<00:15:22.949> the 00:15:23.030 --> 00:15:23.040 align:start position:0% of Internet TLDs currently support the 00:15:23.040 --> 00:15:25.400 align:start position:0% of Internet TLDs currently support the algorithms<00:15:23.549> we<00:15:23.759> need<00:15:23.939> and<00:15:24.809> if<00:15:24.959> we<00:15:25.169> integrate 00:15:25.400 --> 00:15:25.410 align:start position:0% algorithms we need and if we integrate 00:15:25.410 --> 00:15:31.460 align:start position:0% algorithms we need and if we integrate sha-1<00:15:26.069> support<00:15:26.429> that<00:15:26.579> rises<00:15:26.970> to<00:15:26.999> about<00:15:27.119> 96%<00:15:30.470> so 00:15:31.460 --> 00:15:31.470 align:start position:0% sha-1 support that rises to about 96% so 00:15:31.470 --> 00:15:33.159 align:start position:0% sha-1 support that rises to about 96% so the<00:15:31.679> next<00:15:31.860> thing<00:15:32.069> I'd<00:15:32.160> like<00:15:32.189> to<00:15:32.369> show<00:15:32.610> off<00:15:32.639> is 00:15:33.159 --> 00:15:33.169 align:start position:0% the next thing I'd like to show off is 00:15:33.169 --> 00:15:35.300 align:start position:0% the next thing I'd like to show off is something<00:15:34.169> that<00:15:34.350> aims<00:15:34.589> to 00:15:35.300 --> 00:15:35.310 align:start position:0% something that aims to 00:15:35.310 --> 00:15:37.610 align:start position:0% something that aims to improve<00:15:35.670> the<00:15:35.910> usability<00:15:36.120> of<00:15:36.510> ESP<00:15:37.110> and<00:15:37.290> users 00:15:37.610 --> 00:15:37.620 align:start position:0% improve the usability of ESP and users 00:15:37.620 --> 00:15:39.740 align:start position:0% improve the usability of ESP and users one<00:15:38.310> of<00:15:38.430> the<00:15:38.490> major<00:15:38.670> barriers<00:15:39.000> to<00:15:39.450> adoption 00:15:39.740 --> 00:15:39.750 align:start position:0% one of the major barriers to adoption 00:15:39.750 --> 00:15:41.930 align:start position:0% one of the major barriers to adoption has<00:15:40.080> been<00:15:40.350> that<00:15:40.680> for<00:15:40.920> somebody<00:15:41.400> to<00:15:41.640> simply 00:15:41.930 --> 00:15:41.940 align:start position:0% has been that for somebody to simply 00:15:41.940 --> 00:15:44.060 align:start position:0% has been that for somebody to simply name<00:15:42.210> their<00:15:42.450> wallet<00:15:42.779> requires<00:15:43.500> a<00:15:43.590> multi-step 00:15:44.060 --> 00:15:44.070 align:start position:0% name their wallet requires a multi-step 00:15:44.070 --> 00:15:46.340 align:start position:0% name their wallet requires a multi-step process<00:15:44.130> involving<00:15:45.029> an<00:15:45.120> auction<00:15:45.480> process<00:15:46.050> and 00:15:46.340 --> 00:15:46.350 align:start position:0% process involving an auction process and 00:15:46.350 --> 00:15:48.170 align:start position:0% process involving an auction process and it's<00:15:46.470> always<00:15:46.590> been<00:15:46.890> our<00:15:47.010> vision<00:15:47.400> that<00:15:47.580> most 00:15:48.170 --> 00:15:48.180 align:start position:0% it's always been our vision that most 00:15:48.180 --> 00:15:52.640 align:start position:0% it's always been our vision that most users<00:15:48.860> don't<00:15:50.180> buy<00:15:51.180> top-level<00:15:51.900> domains<00:15:52.320> in<00:15:52.620> the 00:15:52.640 --> 00:15:52.650 align:start position:0% users don't buy top-level domains in the 00:15:52.650 --> 00:15:54.590 align:start position:0% users don't buy top-level domains in the same<00:15:52.890> way<00:15:53.040> that<00:15:53.160> most<00:15:53.370> users<00:15:53.610> signup<00:15:54.120> to<00:15:54.240> Gmail 00:15:54.590 --> 00:15:54.600 align:start position:0% same way that most users signup to Gmail 00:15:54.600 --> 00:15:55.820 align:start position:0% same way that most users signup to Gmail rather<00:15:54.900> than<00:15:55.110> buying<00:15:55.290> their<00:15:55.470> own<00:15:55.500> vanity 00:15:55.820 --> 00:15:55.830 align:start position:0% rather than buying their own vanity 00:15:55.830 --> 00:15:59.510 align:start position:0% rather than buying their own vanity domain<00:15:56.279> and<00:15:57.200> E&S<00:15:58.200> now<00:15:58.470> is<00:15:58.800> our<00:15:58.980> attempt<00:15:59.430> at 00:15:59.510 --> 00:15:59.520 align:start position:0% domain and E&S now is our attempt at 00:15:59.520 --> 00:16:01.490 align:start position:0% domain and E&S now is our attempt at making<00:15:59.670> this<00:15:59.940> easier<00:16:00.300> for<00:16:00.360> users<00:16:00.779> and<00:16:01.350> it 00:16:01.490 --> 00:16:01.500 align:start position:0% making this easier for users and it 00:16:01.500 --> 00:16:03.110 align:start position:0% making this easier for users and it makes<00:16:01.680> the<00:16:01.830> process<00:16:02.040> of<00:16:02.490> registering<00:16:02.940> a 00:16:03.110 --> 00:16:03.120 align:start position:0% makes the process of registering a 00:16:03.120 --> 00:16:08.660 align:start position:0% makes the process of registering a subdomain<00:16:03.480> extremely<00:16:04.140> easy<00:16:07.160> that<00:16:08.160> didn't<00:16:08.550> go 00:16:08.660 --> 00:16:08.670 align:start position:0% subdomain extremely easy that didn't go 00:16:08.670 --> 00:16:12.170 align:start position:0% subdomain extremely easy that didn't go quite<00:16:08.940> it's<00:16:09.450> supposed<00:16:09.660> to<00:16:10.490> so<00:16:11.490> in<00:16:11.790> this<00:16:11.910> case 00:16:12.170 --> 00:16:12.180 align:start position:0% quite it's supposed to so in this case 00:16:12.180 --> 00:16:16.190 align:start position:0% quite it's supposed to so in this case I'll<00:16:12.540> search<00:16:12.839> for<00:16:13.140> Vitalik<00:16:13.890> for<00:16:14.670> instance<00:16:15.200> if 00:16:16.190 --> 00:16:16.200 align:start position:0% I'll search for Vitalik for instance if 00:16:16.200 --> 00:16:17.630 align:start position:0% I'll search for Vitalik for instance if I<00:16:16.320> can<00:16:16.470> spell<00:16:16.680> his<00:16:16.800> name<00:16:16.830> which<00:16:17.190> apparently<00:16:17.580> I 00:16:17.630 --> 00:16:17.640 align:start position:0% I can spell his name which apparently I 00:16:17.640 --> 00:16:21.320 align:start position:0% I can spell his name which apparently I can't<00:16:18.230> and<00:16:19.230> we<00:16:19.950> see<00:16:20.370> that<00:16:20.580> we<00:16:21.029> have<00:16:21.060> different 00:16:21.320 --> 00:16:21.330 align:start position:0% can't and we see that we have different 00:16:21.330 --> 00:16:23.240 align:start position:0% can't and we see that we have different top<00:16:21.810> with<00:16:21.960> our<00:16:22.170> second-level<00:16:22.589> domains<00:16:22.920> gimme 00:16:23.240 --> 00:16:23.250 align:start position:0% top with our second-level domains gimme 00:16:23.250 --> 00:16:25.490 align:start position:0% top with our second-level domains gimme thee<00:16:23.520> and<00:16:23.790> want<00:16:23.970> some<00:16:24.210> once<00:16:25.020> some<00:16:25.200> is<00:16:25.290> already 00:16:25.490 --> 00:16:25.500 align:start position:0% thee and want some once some is already 00:16:25.500 --> 00:16:28.070 align:start position:0% thee and want some once some is already taken<00:16:25.860> so<00:16:26.130> I'll<00:16:26.250> click<00:16:26.400> on<00:16:26.550> gimme<00:16:26.880> thee<00:16:27.080> pops 00:16:28.070 --> 00:16:28.080 align:start position:0% taken so I'll click on gimme thee pops 00:16:28.080 --> 00:16:29.510 align:start position:0% taken so I'll click on gimme thee pops up<00:16:28.230> a<00:16:28.260> meta<00:16:28.500> mouse<00:16:28.680> confirmation<00:16:29.400> window 00:16:29.510 --> 00:16:29.520 align:start position:0% up a meta mouse confirmation window 00:16:29.520 --> 00:16:31.519 align:start position:0% up a meta mouse confirmation window grossly<00:16:30.029> enlarged<00:16:30.570> here<00:16:30.870> thanks<00:16:31.170> to<00:16:31.200> a<00:16:31.320> full 00:16:31.519 --> 00:16:31.529 align:start position:0% grossly enlarged here thanks to a full 00:16:31.529 --> 00:16:33.620 align:start position:0% grossly enlarged here thanks to a full screen<00:16:31.800> as<00:16:32.550> you<00:16:32.670> can<00:16:32.700> see<00:16:33.000> it's<00:16:33.180> going<00:16:33.360> to<00:16:33.420> cost 00:16:33.620 --> 00:16:33.630 align:start position:0% screen as you can see it's going to cost 00:16:33.630 --> 00:16:35.660 align:start position:0% screen as you can see it's going to cost us<00:16:33.810> about<00:16:34.080> two<00:16:34.680> dollars<00:16:34.800> eighty<00:16:35.100> four<00:16:35.370> point 00:16:35.660 --> 00:16:35.670 align:start position:0% us about two dollars eighty four point 00:16:35.670 --> 00:16:39.019 align:start position:0% us about two dollars eighty four point zero<00:16:35.790> one<00:16:36.089> ether<00:16:36.420> takes<00:16:36.960> a<00:16:37.050> bit<00:16:37.140> of<00:16:37.230> gas<00:16:38.029> click 00:16:39.019 --> 00:16:39.029 align:start position:0% zero one ether takes a bit of gas click 00:16:39.029 --> 00:16:41.060 align:start position:0% zero one ether takes a bit of gas click Submit<00:16:39.450> as<00:16:39.810> soon<00:16:40.050> as<00:16:40.140> that's<00:16:40.260> mind<00:16:40.620> which<00:16:40.920> is 00:16:41.060 --> 00:16:41.070 align:start position:0% Submit as soon as that's mind which is 00:16:41.070 --> 00:16:44.000 align:start position:0% Submit as soon as that's mind which is instantaneous<00:16:41.760> in<00:16:42.300> this<00:16:42.510> case<00:16:42.720> the<00:16:43.680> name<00:16:43.860> is 00:16:44.000 --> 00:16:44.010 align:start position:0% instantaneous in this case the name is 00:16:44.010 --> 00:16:45.500 align:start position:0% instantaneous in this case the name is registered<00:16:44.460> and<00:16:44.670> it's<00:16:44.940> pointed<00:16:45.270> at<00:16:45.360> your 00:16:45.500 --> 00:16:45.510 align:start position:0% registered and it's pointed at your 00:16:45.510 --> 00:16:47.510 align:start position:0% registered and it's pointed at your wallet<00:16:45.810> that's<00:16:46.140> one<00:16:46.560> step<00:16:46.830> and<00:16:47.070> about<00:16:47.310> thirty 00:16:47.510 --> 00:16:47.520 align:start position:0% wallet that's one step and about thirty 00:16:47.520 --> 00:16:49.430 align:start position:0% wallet that's one step and about thirty Seconds<00:16:48.030> to<00:16:48.180> register<00:16:48.540> in<00:16:48.660> aeneas<00:16:48.930> domain<00:16:49.230> for 00:16:49.430 --> 00:16:49.440 align:start position:0% Seconds to register in aeneas domain for 00:16:49.440 --> 00:16:53.190 align:start position:0% Seconds to register in aeneas domain for any<00:16:49.620> wallet 00:16:53.190 --> 00:16:53.200 align:start position:0% 00:16:53.200 --> 00:16:57.860 align:start position:0% [Music] 00:16:57.860 --> 00:16:57.870 align:start position:0% [Music] 00:16:57.870 --> 00:17:01.020 align:start position:0% [Music] so<00:16:58.870> before<00:16:59.710> I<00:16:59.740> go<00:16:59.920> one<00:17:00.160> more<00:17:00.310> thing<00:17:00.580> and<00:17:00.820> I'm 00:17:01.020 --> 00:17:01.030 align:start position:0% so before I go one more thing and I'm 00:17:01.030 --> 00:17:02.430 align:start position:0% so before I go one more thing and I'm going<00:17:01.120> to<00:17:01.180> pause<00:17:01.390> to<00:17:01.600> see<00:17:01.750> if<00:17:01.840> anybody<00:17:02.290> gets 00:17:02.430 --> 00:17:02.440 align:start position:0% going to pause to see if anybody gets 00:17:02.440 --> 00:17:06.660 align:start position:0% going to pause to see if anybody gets the<00:17:02.650> pom<00:17:03.900> maybe<00:17:04.900> not<00:17:05.110> I'm<00:17:06.100> pleased<00:17:06.460> to 00:17:06.660 --> 00:17:06.670 align:start position:0% the pom maybe not I'm pleased to 00:17:06.670 --> 00:17:08.100 align:start position:0% the pom maybe not I'm pleased to announce<00:17:06.850> that<00:17:07.210> we're<00:17:07.390> going<00:17:07.600> to<00:17:07.690> be<00:17:07.780> forming 00:17:08.100 --> 00:17:08.110 align:start position:0% announce that we're going to be forming 00:17:08.110 --> 00:17:10.140 align:start position:0% announce that we're going to be forming the<00:17:08.260> ENS<00:17:08.710> foundation<00:17:09.400> an<00:17:09.550> independent<00:17:10.060> legal 00:17:10.140 --> 00:17:10.150 align:start position:0% the ENS foundation an independent legal 00:17:10.150 --> 00:17:12.270 align:start position:0% the ENS foundation an independent legal organization<00:17:10.960> whose<00:17:11.170> goal<00:17:11.200> will<00:17:11.650> be<00:17:11.680> thank 00:17:12.270 --> 00:17:12.280 align:start position:0% organization whose goal will be thank 00:17:12.280 --> 00:17:15.390 align:start position:0% organization whose goal will be thank you<00:17:12.460> will<00:17:13.090> be<00:17:13.270> to<00:17:13.480> Ford<00:17:13.750> the<00:17:13.930> goals<00:17:14.140> of<00:17:14.320> ENS<00:17:14.710> to 00:17:15.390 --> 00:17:15.400 align:start position:0% you will be to Ford the goals of ENS to 00:17:15.400 --> 00:17:17.340 align:start position:0% you will be to Ford the goals of ENS to help<00:17:15.610> promote<00:17:16.030> its<00:17:16.240> adoption<00:17:16.540> and<00:17:16.990> to<00:17:17.080> help 00:17:17.340 --> 00:17:17.350 align:start position:0% help promote its adoption and to help 00:17:17.350 --> 00:17:19.470 align:start position:0% help promote its adoption and to help standardize<00:17:17.770> things<00:17:18.220> it<00:17:19.150> will<00:17:19.300> be<00:17:19.450> a 00:17:19.470 --> 00:17:19.480 align:start position:0% standardize things it will be a 00:17:19.480 --> 00:17:23.190 align:start position:0% standardize things it will be a not-for-profit<00:17:20.820> organization<00:17:21.820> and<00:17:22.060> in<00:17:22.690> the 00:17:23.190 --> 00:17:23.200 align:start position:0% not-for-profit organization and in the 00:17:23.200 --> 00:17:27.210 align:start position:0% not-for-profit organization and in the pattern<00:17:23.500> of<00:17:23.560> the<00:17:23.680> w3c<00:17:24.250> Orianna<00:17:25.440> in<00:17:26.440> sorry<00:17:27.130> the 00:17:27.210 --> 00:17:27.220 align:start position:0% pattern of the w3c Orianna in sorry the 00:17:27.220 --> 00:17:29.880 align:start position:0% pattern of the w3c Orianna in sorry the IETF<00:17:27.870> intended<00:17:28.870> to<00:17:28.960> help<00:17:29.080> promote<00:17:29.470> E&S 00:17:29.880 --> 00:17:29.890 align:start position:0% IETF intended to help promote E&S 00:17:29.890 --> 00:17:31.770 align:start position:0% IETF intended to help promote E&S adoption<00:17:30.460> and<00:17:30.610> no<00:17:31.090> there<00:17:31.270> will<00:17:31.330> not<00:17:31.510> be<00:17:31.540> any 00:17:31.770 --> 00:17:31.780 align:start position:0% adoption and no there will not be any 00:17:31.780 --> 00:17:43.620 align:start position:0% adoption and no there will not be any form<00:17:32.020> of<00:17:32.080> ACO<00:17:42.030> finally<00:17:43.030> I'd<00:17:43.120> like<00:17:43.180> to<00:17:43.300> close<00:17:43.570> by 00:17:43.620 --> 00:17:43.630 align:start position:0% form of ACO finally I'd like to close by 00:17:43.630 --> 00:17:45.150 align:start position:0% form of ACO finally I'd like to close by thanking<00:17:44.110> everyone<00:17:44.500> who<00:17:44.590> made<00:17:44.860> this<00:17:44.980> possible 00:17:45.150 --> 00:17:45.160 align:start position:0% thanking everyone who made this possible 00:17:45.160 --> 00:17:47.400 align:start position:0% thanking everyone who made this possible particularly<00:17:45.970> all<00:17:46.450> the<00:17:46.660> attendees<00:17:47.050> at<00:17:47.290> the 00:17:47.400 --> 00:17:47.410 align:start position:0% particularly all the attendees at the 00:17:47.410 --> 00:17:50.040 align:start position:0% particularly all the attendees at the ENS<00:17:47.740> workshop<00:17:48.220> alex<00:17:49.180> van<00:17:49.360> der<00:17:49.510> sent<00:17:49.750> who 00:17:50.040 --> 00:17:50.050 align:start position:0% ENS workshop alex van der sent who 00:17:50.050 --> 00:17:51.750 align:start position:0% ENS workshop alex van der sent who couldn't<00:17:50.470> be<00:17:50.590> here<00:17:50.830> because<00:17:51.010> he's<00:17:51.220> having<00:17:51.610> a 00:17:51.750 --> 00:17:51.760 align:start position:0% couldn't be here because he's having a 00:17:51.760 --> 00:17:52.770 align:start position:0% couldn't be here because he's having a baby 00:17:52.770 --> 00:17:52.780 align:start position:0% baby 00:17:52.780 --> 00:17:55.500 align:start position:0% baby Leonard<00:17:53.740> tan<00:17:53.980> Arrhenius<00:17:54.940> volunteer<00:17:55.330> who 00:17:55.500 --> 00:17:55.510 align:start position:0% Leonard tan Arrhenius volunteer who 00:17:55.510 --> 00:17:56.880 align:start position:0% Leonard tan Arrhenius volunteer who recently<00:17:55.750> presented<00:17:56.140> some<00:17:56.590> of<00:17:56.680> this<00:17:56.740> material 00:17:56.880 --> 00:17:56.890 align:start position:0% recently presented some of this material 00:17:56.890 --> 00:17:59.340 align:start position:0% recently presented some of this material to<00:17:57.370> I<00:17:57.400> can<00:17:57.760> including<00:17:58.390> the<00:17:58.510> ICANN<00:17:58.870> Technical 00:17:59.340 --> 00:17:59.350 align:start position:0% to I can including the ICANN Technical 00:17:59.350 --> 00:18:02.220 align:start position:0% to I can including the ICANN Technical Working<00:17:59.380> Group<00:17:59.770> and<00:18:00.010> the<00:18:00.100> board<00:18:00.510> and<00:18:01.510> I 00:18:02.220 --> 00:18:02.230 align:start position:0% Working Group and the board and I 00:18:02.230 --> 00:18:04.170 align:start position:0% Working Group and the board and I honestly<00:18:03.160> do<00:18:03.550> not<00:18:03.610> know<00:18:03.820> how<00:18:03.940> to<00:18:04.030> pronounce 00:18:04.170 --> 00:18:04.180 align:start position:0% honestly do not know how to pronounce 00:18:04.180 --> 00:18:06.930 align:start position:0% honestly do not know how to pronounce his<00:18:04.420> name<00:18:04.450> Ollie<00:18:04.840> ollie<00:18:05.320> who<00:18:06.220> inspired<00:18:06.790> the 00:18:06.930 --> 00:18:06.940 align:start position:0% his name Ollie ollie who inspired the 00:18:06.940 --> 00:18:08.520 align:start position:0% his name Ollie ollie who inspired the rolling<00:18:07.210> auction<00:18:07.540> system<00:18:07.690> by<00:18:08.050> coming<00:18:08.380> into 00:18:08.520 --> 00:18:08.530 align:start position:0% rolling auction system by coming into 00:18:08.530 --> 00:18:10.680 align:start position:0% rolling auction system by coming into the<00:18:08.830> getter<00:18:09.490> channel<00:18:09.880> and<00:18:10.090> complaining<00:18:10.600> about 00:18:10.680 --> 00:18:10.690 align:start position:0% the getter channel and complaining about 00:18:10.690 --> 00:18:15.270 align:start position:0% the getter channel and complaining about how<00:18:11.560> bad<00:18:11.590> the<00:18:12.010> existing<00:18:12.400> system<00:18:12.730> was<00:18:13.800> easy<00:18:14.800> DNS 00:18:15.270 --> 00:18:15.280 align:start position:0% how bad the existing system was easy DNS 00:18:15.280 --> 00:18:17.370 align:start position:0% how bad the existing system was easy DNS for<00:18:15.610> their<00:18:15.730> support<00:18:16.510> with<00:18:16.690> DNS<00:18:17.140> SEC 00:18:17.370 --> 00:18:17.380 align:start position:0% for their support with DNS SEC 00:18:17.380 --> 00:18:20.310 align:start position:0% for their support with DNS SEC integration<00:18:18.040> and<00:18:18.880> Meno<00:18:19.210> from<00:18:19.570> ENS<00:18:19.930> listing 00:18:20.310 --> 00:18:20.320 align:start position:0% integration and Meno from ENS listing 00:18:20.320 --> 00:18:22.620 align:start position:0% integration and Meno from ENS listing for<00:18:20.500> feedback<00:18:20.680> on<00:18:20.950> ENS<00:18:21.310> now<00:18:21.520> and<00:18:21.850> that's<00:18:22.450> all<00:18:22.570> I 00:18:22.620 --> 00:18:22.630 align:start position:0% for feedback on ENS now and that's all I 00:18:22.630 --> 00:18:24.430 align:start position:0% for feedback on ENS now and that's all I have<00:18:22.750> for<00:18:23.050> you<00:18:23.140> thank<00:18:23.590> you<00:18:23.650> very<00:18:23.770> much 00:18:24.430 --> 00:18:24.440 align:start position:0% have for you thank you very much 00:18:24.440 --> 00:18:33.180 align:start position:0% have for you thank you very much [Applause] 00:18:33.180 --> 00:18:33.190 align:start position:0% 00:18:33.190 --> 00:18:40.769 align:start position:0% [Music]