[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.00,0:00:01.82,Default,,0000,0000,0000,,let's talk about the future of etherium
Dialogue: 0,0:00:01.82,0:00:06.81,Default,,0000,0000,0000,,[Music]
Dialogue: 0,0:00:07.10,0:00:09.48,Default,,0000,0000,0000,,hi there it's Jackson thanks for
Dialogue: 0,0:00:09.48,0:00:11.04,Default,,0000,0000,0000,,watching and welcome back to another
Dialogue: 0,0:00:11.04,0:00:12.63,Default,,0000,0000,0000,,episode I've been getting a few requests
Dialogue: 0,0:00:12.63,0:00:13.83,Default,,0000,0000,0000,,for this so today I'm gonna talk about
Dialogue: 0,0:00:13.83,0:00:16.05,Default,,0000,0000,0000,,aetherium and its future what does the
Dialogue: 0,0:00:16.05,0:00:18.00,Default,,0000,0000,0000,,roadmap look like for the next one two
Dialogue: 0,0:00:18.00,0:00:20.31,Default,,0000,0000,0000,,three or five years but before we dive
Dialogue: 0,0:00:20.31,0:00:21.90,Default,,0000,0000,0000,,into that if you do like these videos
Dialogue: 0,0:00:21.90,0:00:23.43,Default,,0000,0000,0000,,make sure you hit that subscribe button
Dialogue: 0,0:00:23.43,0:00:25.17,Default,,0000,0000,0000,,below and if you want to support their
Dialogue: 0,0:00:25.17,0:00:27.75,Default,,0000,0000,0000,,creation go along to patreon.com/scishow
Dialogue: 0,0:00:27.75,0:00:29.25,Default,,0000,0000,0000,,I'm Jackson where you can become a
Dialogue: 0,0:00:29.25,0:00:31.29,Default,,0000,0000,0000,,patron and get access to all sorts of
Dialogue: 0,0:00:31.29,0:00:33.36,Default,,0000,0000,0000,,exclusive perks like early access to
Dialogue: 0,0:00:33.36,0:00:34.89,Default,,0000,0000,0000,,these videos but the topic of the day is
Dialogue: 0,0:00:34.89,0:00:37.68,Default,,0000,0000,0000,,aetherium so let's dive right in 2017 as
Dialogue: 0,0:00:37.68,0:00:39.69,Default,,0000,0000,0000,,most people know was a massive year for
Dialogue: 0,0:00:39.69,0:00:40.80,Default,,0000,0000,0000,,aetherium it was the year that really
Dialogue: 0,0:00:40.80,0:00:42.90,Default,,0000,0000,0000,,put a theorem on the map not only
Dialogue: 0,0:00:42.90,0:00:44.49,Default,,0000,0000,0000,,because of its exponentially increasing
Dialogue: 0,0:00:44.49,0:00:46.59,Default,,0000,0000,0000,,price but also just usage through smart
Dialogue: 0,0:00:46.59,0:00:48.54,Default,,0000,0000,0000,,contracts being leveraged for the ICO
Dialogue: 0,0:00:48.54,0:00:50.28,Default,,0000,0000,0000,,but it's really only early days for
Dialogue: 0,0:00:50.28,0:00:52.23,Default,,0000,0000,0000,,aetherium icos and kind of digital
Dialogue: 0,0:00:52.23,0:00:54.69,Default,,0000,0000,0000,,assets still remain it's one primary use
Dialogue: 0,0:00:54.69,0:00:56.37,Default,,0000,0000,0000,,case right now and we haven't seen
Dialogue: 0,0:00:56.37,0:00:58.29,Default,,0000,0000,0000,,mainstream adoption just yet but thanks
Dialogue: 0,0:00:58.29,0:00:59.70,Default,,0000,0000,0000,,to the prevalence of thousands and
Dialogue: 0,0:00:59.70,0:01:01.68,Default,,0000,0000,0000,,thousands of these ICO smart contracts
Dialogue: 0,0:01:01.68,0:01:03.42,Default,,0000,0000,0000,,and tokens that are operating on top of
Dialogue: 0,0:01:03.42,0:01:05.34,Default,,0000,0000,0000,,the etherium main net the etherium
Dialogue: 0,0:01:05.34,0:01:07.35,Default,,0000,0000,0000,,network is now processing over half a
Dialogue: 0,0:01:07.35,0:01:09.51,Default,,0000,0000,0000,,million transactions per day for
Dialogue: 0,0:01:09.51,0:01:10.71,Default,,0000,0000,0000,,comparison's sake if you look at
Dialogue: 0,0:01:10.71,0:01:12.27,Default,,0000,0000,0000,,something like Bitcoin it's currently
Dialogue: 0,0:01:12.27,0:01:13.98,Default,,0000,0000,0000,,only processing around 50,000
Dialogue: 0,0:01:13.98,0:01:16.05,Default,,0000,0000,0000,,transactions per day on its network so
Dialogue: 0,0:01:16.05,0:01:17.19,Default,,0000,0000,0000,,that's pretty crazy if you think about
Dialogue: 0,0:01:17.19,0:01:19.17,Default,,0000,0000,0000,,it a theorem is powering around 10 times
Dialogue: 0,0:01:19.17,0:01:20.70,Default,,0000,0000,0000,,the amount of transactions of the
Dialogue: 0,0:01:20.70,0:01:22.89,Default,,0000,0000,0000,,Bitcoin network it's pretty busy but as
Dialogue: 0,0:01:22.89,0:01:24.63,Default,,0000,0000,0000,,a theory I'm started to grow it wasn't
Dialogue: 0,0:01:24.63,0:01:26.58,Default,,0000,0000,0000,,without its growing pains people started
Dialogue: 0,0:01:26.58,0:01:28.35,Default,,0000,0000,0000,,to see some slowdowns in the network
Dialogue: 0,0:01:28.35,0:01:30.63,Default,,0000,0000,0000,,congestion and increasing gas costs
Dialogue: 0,0:01:30.63,0:01:32.76,Default,,0000,0000,0000,,making it cost upwards of $2 just to
Dialogue: 0,0:01:32.76,0:01:34.65,Default,,0000,0000,0000,,send a token to somebody in parallel to
Dialogue: 0,0:01:34.65,0:01:36.33,Default,,0000,0000,0000,,this concerns are being raised about its
Dialogue: 0,0:01:36.33,0:01:38.01,Default,,0000,0000,0000,,use of proof-of-work as a mining
Dialogue: 0,0:01:38.01,0:01:39.72,Default,,0000,0000,0000,,algorithm and how wasteful that is in
Dialogue: 0,0:01:39.72,0:01:41.70,Default,,0000,0000,0000,,terms of electricity as we face climate
Dialogue: 0,0:01:41.70,0:01:43.59,Default,,0000,0000,0000,,change and lastly the security of the
Dialogue: 0,0:01:43.59,0:01:45.15,Default,,0000,0000,0000,,whole protocol was just thrown into
Dialogue: 0,0:01:45.15,0:01:46.92,Default,,0000,0000,0000,,question with a multitude of smart
Dialogue: 0,0:01:46.92,0:01:48.90,Default,,0000,0000,0000,,contract hacks occurring resulting in
Dialogue: 0,0:01:48.90,0:01:50.37,Default,,0000,0000,0000,,the loss of hundreds of millions of
Dialogue: 0,0:01:50.37,0:01:51.99,Default,,0000,0000,0000,,dollars so a theorem has a long way to
Dialogue: 0,0:01:51.99,0:01:54.12,Default,,0000,0000,0000,,go but they do have a roadmap to address
Dialogue: 0,0:01:54.12,0:01:55.59,Default,,0000,0000,0000,,some of these concerns and that's what
Dialogue: 0,0:01:55.59,0:01:57.00,Default,,0000,0000,0000,,I'm gonna cover today if there is
Dialogue: 0,0:01:57.00,0:01:58.23,Default,,0000,0000,0000,,interesting in comparison to something
Dialogue: 0,0:01:58.23,0:02:00.12,Default,,0000,0000,0000,,like Bitcoin core in that the etherium
Dialogue: 0,0:02:00.12,0:02:02.19,Default,,0000,0000,0000,,team aren't shy about making huge
Dialogue: 0,0:02:02.19,0:02:04.38,Default,,0000,0000,0000,,changes to the underlying protocol if it
Dialogue: 0,0:02:04.38,0:02:06.03,Default,,0000,0000,0000,,means scalability or the addition of
Dialogue: 0,0:02:06.03,0:02:08.01,Default,,0000,0000,0000,,much-needed features as such in the past
Dialogue: 0,0:02:08.01,0:02:09.78,Default,,0000,0000,0000,,new releases of a theorem have actually
Dialogue: 0,0:02:09.78,0:02:11.61,Default,,0000,0000,0000,,been hard folks of the entire network
Dialogue: 0,0:02:11.61,0:02:12.13,Default,,0000,0000,0000,,there
Dialogue: 0,0:02:12.13,0:02:13.81,Default,,0000,0000,0000,,two upcoming releases that will follow
Dialogue: 0,0:02:13.81,0:02:15.58,Default,,0000,0000,0000,,the same kind of pattern the first being
Dialogue: 0,0:02:15.58,0:02:17.50,Default,,0000,0000,0000,,called Constantinople and the second
Dialogue: 0,0:02:17.50,0:02:18.94,Default,,0000,0000,0000,,being called serenity and some of the
Dialogue: 0,0:02:18.94,0:02:20.11,Default,,0000,0000,0000,,features or changes I'll be talking
Dialogue: 0,0:02:20.11,0:02:21.82,Default,,0000,0000,0000,,today will work their way into those
Dialogue: 0,0:02:21.82,0:02:23.35,Default,,0000,0000,0000,,releases but we don't have a lot of
Dialogue: 0,0:02:23.35,0:02:25.03,Default,,0000,0000,0000,,clarity yeah that's still to be seen so
Dialogue: 0,0:02:25.03,0:02:26.08,Default,,0000,0000,0000,,the first thing that a lot of people are
Dialogue: 0,0:02:26.08,0:02:27.10,Default,,0000,0000,0000,,talking about when it comes to the
Dialogue: 0,0:02:27.10,0:02:28.81,Default,,0000,0000,0000,,etherium roadmap is something called
Dialogue: 0,0:02:28.81,0:02:30.97,Default,,0000,0000,0000,,Casper as I alluded to earlier aetherium
Dialogue: 0,0:02:30.97,0:02:32.95,Default,,0000,0000,0000,,relies on proof-of-work for consensus
Dialogue: 0,0:02:32.95,0:02:34.75,Default,,0000,0000,0000,,this is exactly the same as Bitcoin in
Dialogue: 0,0:02:34.75,0:02:36.16,Default,,0000,0000,0000,,that you have a bunch of people with a
Dialogue: 0,0:02:36.16,0:02:37.84,Default,,0000,0000,0000,,lot of computing power pointing that
Dialogue: 0,0:02:37.84,0:02:39.94,Default,,0000,0000,0000,,computing power at the network making it
Dialogue: 0,0:02:39.94,0:02:41.50,Default,,0000,0000,0000,,costly if they wanted to try and be a
Dialogue: 0,0:02:41.50,0:02:43.21,Default,,0000,0000,0000,,bad actor but the etherium team
Dialogue: 0,0:02:43.21,0:02:45.37,Default,,0000,0000,0000,,including vitalic the creator himself is
Dialogue: 0,0:02:45.37,0:02:47.53,Default,,0000,0000,0000,,very aware of how wasteful proof of work
Dialogue: 0,0:02:47.53,0:02:49.09,Default,,0000,0000,0000,,is proof of work burns a lot of
Dialogue: 0,0:02:49.09,0:02:50.44,Default,,0000,0000,0000,,electricity because it's this constant
Dialogue: 0,0:02:50.44,0:02:52.39,Default,,0000,0000,0000,,arms race to get more electricity and
Dialogue: 0,0:02:52.39,0:02:54.37,Default,,0000,0000,0000,,more hardware trying to mine the stuff
Dialogue: 0,0:02:54.37,0:02:55.45,Default,,0000,0000,0000,,and start from the very beginning
Dialogue: 0,0:02:55.45,0:02:57.37,Default,,0000,0000,0000,,vitalic and the team were very clear
Dialogue: 0,0:02:57.37,0:02:58.93,Default,,0000,0000,0000,,that at some point in the future a
Dialogue: 0,0:02:58.93,0:03:00.76,Default,,0000,0000,0000,,theorem would need to migrate to a proof
Dialogue: 0,0:03:00.76,0:03:02.62,Default,,0000,0000,0000,,of stake based system now I recommend
Dialogue: 0,0:03:02.62,0:03:03.73,Default,,0000,0000,0000,,you go back and watch my video about
Dialogue: 0,0:03:03.73,0:03:06.01,Default,,0000,0000,0000,,proof of work versus proof of stake as I
Dialogue: 0,0:03:06.01,0:03:07.87,Default,,0000,0000,0000,,said in that video proof of stake really
Dialogue: 0,0:03:07.87,0:03:09.70,Default,,0000,0000,0000,,hasn't been nailed in a way that doesn't
Dialogue: 0,0:03:09.70,0:03:11.62,Default,,0000,0000,0000,,introduce some severe points of
Dialogue: 0,0:03:11.62,0:03:13.21,Default,,0000,0000,0000,,centralization and sort of a certain
Dialogue: 0,0:03:13.21,0:03:14.86,Default,,0000,0000,0000,,degree that's what drove the initial use
Dialogue: 0,0:03:14.86,0:03:16.84,Default,,0000,0000,0000,,of proof of work in aetherium as the
Dialogue: 0,0:03:16.84,0:03:18.52,Default,,0000,0000,0000,,proof of stake just wasn't there yet
Dialogue: 0,0:03:18.52,0:03:20.32,Default,,0000,0000,0000,,Casper is simply the name of aetherium
Dialogue: 0,0:03:20.32,0:03:21.70,Default,,0000,0000,0000,,--za proach to solving the proof of
Dialogue: 0,0:03:21.70,0:03:23.23,Default,,0000,0000,0000,,stake problem so there's actually two
Dialogue: 0,0:03:23.23,0:03:25.45,Default,,0000,0000,0000,,types of Casper implementation that have
Dialogue: 0,0:03:25.45,0:03:27.85,Default,,0000,0000,0000,,been outlined the first is called FFG or
Dialogue: 0,0:03:27.85,0:03:30.22,Default,,0000,0000,0000,,friendly finality gadget and the second
Dialogue: 0,0:03:30.22,0:03:32.98,Default,,0000,0000,0000,,is called cbc or correct by construction
Dialogue: 0,0:03:32.98,0:03:34.81,Default,,0000,0000,0000,,the first being proposed by vitalic
Dialogue: 0,0:03:34.81,0:03:36.49,Default,,0000,0000,0000,,himself and the second by a researcher
Dialogue: 0,0:03:36.49,0:03:38.80,Default,,0000,0000,0000,,called flat Zamfir by telex proposal for
Dialogue: 0,0:03:38.80,0:03:41.17,Default,,0000,0000,0000,,Casper which is FFG is essentially a
Dialogue: 0,0:03:41.17,0:03:43.12,Default,,0000,0000,0000,,proof-of-work proof of stake hybrid
Dialogue: 0,0:03:43.12,0:03:45.01,Default,,0000,0000,0000,,solution so it's not a purely proof of
Dialogue: 0,0:03:45.01,0:03:46.69,Default,,0000,0000,0000,,stake play and this is kind of the first
Dialogue: 0,0:03:46.69,0:03:48.34,Default,,0000,0000,0000,,stage of Casper and that it's meant to
Dialogue: 0,0:03:48.34,0:03:50.23,Default,,0000,0000,0000,,wean people away from proof of work
Dialogue: 0,0:03:50.23,0:03:52.30,Default,,0000,0000,0000,,mining it's acronym stands for friendly
Dialogue: 0,0:03:52.30,0:03:53.92,Default,,0000,0000,0000,,finality gadget because while there's
Dialogue: 0,0:03:53.92,0:03:55.90,Default,,0000,0000,0000,,still proof of work mining going on for
Dialogue: 0,0:03:55.90,0:03:58.54,Default,,0000,0000,0000,,every block every 50 blocks as a proof
Dialogue: 0,0:03:58.54,0:04:00.70,Default,,0000,0000,0000,,of stake of voting quorum that basically
Dialogue: 0,0:04:00.70,0:04:02.92,Default,,0000,0000,0000,,writes in a check point to history so
Dialogue: 0,0:04:02.92,0:04:05.17,Default,,0000,0000,0000,,FFG still has just regular proof of work
Dialogue: 0,0:04:05.17,0:04:07.78,Default,,0000,0000,0000,,but every 50 blocks there's a proof of
Dialogue: 0,0:04:07.78,0:04:09.34,Default,,0000,0000,0000,,stake voting mechanism and when they
Dialogue: 0,0:04:09.34,0:04:10.87,Default,,0000,0000,0000,,write this check point they're basically
Dialogue: 0,0:04:10.87,0:04:12.85,Default,,0000,0000,0000,,voting on something which is finality is
Dialogue: 0,0:04:12.85,0:04:14.65,Default,,0000,0000,0000,,something that is a historical
Dialogue: 0,0:04:14.65,0:04:16.90,Default,,0000,0000,0000,,representation of history that can't be
Dialogue: 0,0:04:16.90,0:04:18.58,Default,,0000,0000,0000,,changed this kind of hybrid middle
Dialogue: 0,0:04:18.58,0:04:19.66,Default,,0000,0000,0000,,ground that we'll have for a little
Dialogue: 0,0:04:19.66,0:04:21.52,Default,,0000,0000,0000,,while in aetherium is already running on
Dialogue: 0,0:04:21.52,0:04:23.32,Default,,0000,0000,0000,,a test net and I anticipate that we
Dialogue: 0,0:04:23.32,0:04:24.97,Default,,0000,0000,0000,,might actually see it coming on the
Dialogue: 0,0:04:24.97,0:04:26.83,Default,,0000,0000,0000,,Net later in 2018 is part of the
Dialogue: 0,0:04:26.83,0:04:28.45,Default,,0000,0000,0000,,Constantinople for I believe
Dialogue: 0,0:04:28.45,0:04:29.95,Default,,0000,0000,0000,,Constantinople is scheduled for
Dialogue: 0,0:04:29.95,0:04:31.81,Default,,0000,0000,0000,,somewhere around summer in the US or
Dialogue: 0,0:04:31.81,0:04:33.52,Default,,0000,0000,0000,,maybe a little bit later if FFG just
Dialogue: 0,0:04:33.52,0:04:35.20,Default,,0000,0000,0000,,isn't ready by then and we don't see it
Dialogue: 0,0:04:35.20,0:04:36.97,Default,,0000,0000,0000,,in Constantinople it'll likely get
Dialogue: 0,0:04:36.97,0:04:38.92,Default,,0000,0000,0000,,pushed out to the Serenity fork which we
Dialogue: 0,0:04:38.92,0:04:40.42,Default,,0000,0000,0000,,don't currently really have a timeline
Dialogue: 0,0:04:40.42,0:04:42.34,Default,,0000,0000,0000,,on I'd imagine it's very late 2018 if
Dialogue: 0,0:04:42.34,0:04:44.86,Default,,0000,0000,0000,,not early 2019 but again FFG is just
Dialogue: 0,0:04:44.86,0:04:46.72,Default,,0000,0000,0000,,that initial phase to try and win people
Dialogue: 0,0:04:46.72,0:04:48.31,Default,,0000,0000,0000,,and move people away from proof-of-work
Dialogue: 0,0:04:48.31,0:04:51.19,Default,,0000,0000,0000,,mining as a reliance for consensus ii
Dialogue: 0,0:04:51.19,0:04:52.93,Default,,0000,0000,0000,,and full approach being researched is c
Dialogue: 0,0:04:52.93,0:04:55.27,Default,,0000,0000,0000,,bc or correct by construction this is
Dialogue: 0,0:04:55.27,0:04:57.07,Default,,0000,0000,0000,,still fairly deep in the research stage
Dialogue: 0,0:04:57.07,0:04:58.36,Default,,0000,0000,0000,,and it's far from really being
Dialogue: 0,0:04:58.36,0:05:00.25,Default,,0000,0000,0000,,implemented in a workable way it has a
Dialogue: 0,0:05:00.25,0:05:02.05,Default,,0000,0000,0000,,long way to go because c bc isn't just
Dialogue: 0,0:05:02.05,0:05:03.67,Default,,0000,0000,0000,,simply layering on proof of stake it
Dialogue: 0,0:05:03.67,0:05:05.08,Default,,0000,0000,0000,,really kind of rethinks the whole way
Dialogue: 0,0:05:05.08,0:05:07.45,Default,,0000,0000,0000,,the consensus protocol operates as such
Dialogue: 0,0:05:07.45,0:05:09.13,Default,,0000,0000,0000,,I don't think we'll see it in 2018
Dialogue: 0,0:05:09.13,0:05:11.71,Default,,0000,0000,0000,,probably 2019 if that there is a chance
Dialogue: 0,0:05:11.71,0:05:13.72,Default,,0000,0000,0000,,that if FFG gets rolled out successfully
Dialogue: 0,0:05:13.72,0:05:15.16,Default,,0000,0000,0000,,they could tweak the parameters of that
Dialogue: 0,0:05:15.16,0:05:17.47,Default,,0000,0000,0000,,and just keep iterating on the FFG model
Dialogue: 0,0:05:17.47,0:05:19.42,Default,,0000,0000,0000,,until the CBC approach is really nailed
Dialogue: 0,0:05:19.42,0:05:21.34,Default,,0000,0000,0000,,because CBC essentially changes the
Dialogue: 0,0:05:21.34,0:05:22.84,Default,,0000,0000,0000,,whole way consensus works in the
Dialogue: 0,0:05:22.84,0:05:24.58,Default,,0000,0000,0000,,protocol it's not a change that they
Dialogue: 0,0:05:24.58,0:05:26.17,Default,,0000,0000,0000,,want to implement lightly and so I don't
Dialogue: 0,0:05:26.17,0:05:27.31,Default,,0000,0000,0000,,think we're just gonna see it rolled out
Dialogue: 0,0:05:27.31,0:05:28.99,Default,,0000,0000,0000,,on a whim or quickly Casper's
Dialogue: 0,0:05:28.99,0:05:30.55,Default,,0000,0000,0000,,implementation of proof of stake is just
Dialogue: 0,0:05:30.55,0:05:32.14,Default,,0000,0000,0000,,like other proof of state consensus
Dialogue: 0,0:05:32.14,0:05:33.49,Default,,0000,0000,0000,,protocols in that it does require
Dialogue: 0,0:05:33.49,0:05:35.17,Default,,0000,0000,0000,,two-thirds of the validators to agree to
Dialogue: 0,0:05:35.17,0:05:36.94,Default,,0000,0000,0000,,come to consensus to avoid what's being
Dialogue: 0,0:05:36.94,0:05:39.07,Default,,0000,0000,0000,,dubbed a 33 percent attack though Kasper
Dialogue: 0,0:05:39.07,0:05:41.05,Default,,0000,0000,0000,,introduces essentially a deposit that
Dialogue: 0,0:05:41.05,0:05:42.79,Default,,0000,0000,0000,,people that are staking have to put down
Dialogue: 0,0:05:42.79,0:05:44.98,Default,,0000,0000,0000,,and if they act badly then they lose
Dialogue: 0,0:05:44.98,0:05:46.78,Default,,0000,0000,0000,,that deposit entirely because of this is
Dialogue: 0,0:05:46.78,0:05:48.58,Default,,0000,0000,0000,,a pretty strong financial disincentive
Dialogue: 0,0:05:48.58,0:05:50.08,Default,,0000,0000,0000,,for anybody to become a bad actor
Dialogue: 0,0:05:50.08,0:05:51.52,Default,,0000,0000,0000,,because of the security deposit being
Dialogue: 0,0:05:51.52,0:05:52.87,Default,,0000,0000,0000,,required in order to mitigate that
Dialogue: 0,0:05:52.87,0:05:55.33,Default,,0000,0000,0000,,attack I do anticipate that it'll cost
Dialogue: 0,0:05:55.33,0:05:56.77,Default,,0000,0000,0000,,quite a lot to be a proof of stake
Dialogue: 0,0:05:56.77,0:05:59.29,Default,,0000,0000,0000,,validator on an FFG system early on
Dialogue: 0,0:05:59.29,0:06:00.88,Default,,0000,0000,0000,,we're talking probably hundreds if not a
Dialogue: 0,0:06:00.88,0:06:02.44,Default,,0000,0000,0000,,thousand aetherium just to become a
Dialogue: 0,0:06:02.44,0:06:04.09,Default,,0000,0000,0000,,stake I totally understand that because
Dialogue: 0,0:06:04.09,0:06:05.47,Default,,0000,0000,0000,,the incentives need to be aligned it
Dialogue: 0,0:06:05.47,0:06:07.12,Default,,0000,0000,0000,,needs to be really expensive to try and
Dialogue: 0,0:06:07.12,0:06:08.47,Default,,0000,0000,0000,,attack the network but it's gonna be
Dialogue: 0,0:06:08.47,0:06:09.73,Default,,0000,0000,0000,,really interesting to see how many
Dialogue: 0,0:06:09.73,0:06:11.62,Default,,0000,0000,0000,,people actually use proof of stake and
Dialogue: 0,0:06:11.62,0:06:13.06,Default,,0000,0000,0000,,want to become a validator in addition
Dialogue: 0,0:06:13.06,0:06:14.41,Default,,0000,0000,0000,,to laying down that money proof mistake
Dialogue: 0,0:06:14.41,0:06:15.91,Default,,0000,0000,0000,,validators always have to be connected
Dialogue: 0,0:06:15.91,0:06:17.56,Default,,0000,0000,0000,,to the network as well so it'll be
Dialogue: 0,0:06:17.56,0:06:18.97,Default,,0000,0000,0000,,interesting just to see the adoption of
Dialogue: 0,0:06:18.97,0:06:20.38,Default,,0000,0000,0000,,that it's really important to note that
Dialogue: 0,0:06:20.38,0:06:22.15,Default,,0000,0000,0000,,Casper and proof of stake isn't being
Dialogue: 0,0:06:22.15,0:06:24.04,Default,,0000,0000,0000,,positioned as a scaling initiative it's
Dialogue: 0,0:06:24.04,0:06:25.24,Default,,0000,0000,0000,,really just a promise they've made since
Dialogue: 0,0:06:25.24,0:06:26.62,Default,,0000,0000,0000,,the very beginning and something they've
Dialogue: 0,0:06:26.62,0:06:28.27,Default,,0000,0000,0000,,been saying they wanted to do to get rid
Dialogue: 0,0:06:28.27,0:06:30.01,Default,,0000,0000,0000,,of wasteful proof-of-work mining there
Dialogue: 0,0:06:30.01,0:06:31.45,Default,,0000,0000,0000,,are some implications in the way that it
Dialogue: 0,0:06:31.45,0:06:32.80,Default,,0000,0000,0000,,can make scaling easier in the future
Dialogue: 0,0:06:32.80,0:06:34.54,Default,,0000,0000,0000,,because you're not relying on miners
Dialogue: 0,0:06:34.54,0:06:36.34,Default,,0000,0000,0000,,which can often become centralized but I
Dialogue: 0,0:06:36.34,0:06:37.78,Default,,0000,0000,0000,,feel like this is common misconception
Dialogue: 0,0:06:37.78,0:06:38.36,Default,,0000,0000,0000,,that Casper
Dialogue: 0,0:06:38.36,0:06:39.98,Default,,0000,0000,0000,,somehow gonna equal magic aetherium
Dialogue: 0,0:06:39.98,0:06:41.36,Default,,0000,0000,0000,,scaling and that's simply not the case
Dialogue: 0,0:06:41.36,0:06:43.40,Default,,0000,0000,0000,,so just wrapping up Casper and proof of
Dialogue: 0,0:06:43.40,0:06:45.17,Default,,0000,0000,0000,,stake keep an eye out for the hybrid
Dialogue: 0,0:06:45.17,0:06:47.63,Default,,0000,0000,0000,,implementation in mid to late 2018 and
Dialogue: 0,0:06:47.63,0:06:49.40,Default,,0000,0000,0000,,the full implementation CBC in my
Dialogue: 0,0:06:49.40,0:06:51.17,Default,,0000,0000,0000,,opinion will probably come in 2019 if
Dialogue: 0,0:06:51.17,0:06:51.71,Default,,0000,0000,0000,,not later
Dialogue: 0,0:06:51.71,0:06:53.24,Default,,0000,0000,0000,,and speaking of scalability let's move
Dialogue: 0,0:06:53.24,0:06:54.62,Default,,0000,0000,0000,,on and dive into that I've talked about
Dialogue: 0,0:06:54.62,0:06:56.30,Default,,0000,0000,0000,,this a fair bit on this channel but
Dialogue: 0,0:06:56.30,0:06:58.13,Default,,0000,0000,0000,,ultimately there is no real simple
Dialogue: 0,0:06:58.13,0:06:59.78,Default,,0000,0000,0000,,silver bullet solution to scaling
Dialogue: 0,0:06:59.78,0:07:01.16,Default,,0000,0000,0000,,historically when people have tried to
Dialogue: 0,0:07:01.16,0:07:03.17,Default,,0000,0000,0000,,scale these decentralized solutions
Dialogue: 0,0:07:03.17,0:07:04.91,Default,,0000,0000,0000,,they've always introduced some point of
Dialogue: 0,0:07:04.91,0:07:06.92,Default,,0000,0000,0000,,centralization as a compromise so you
Dialogue: 0,0:07:06.92,0:07:08.45,Default,,0000,0000,0000,,can look at something like super or
Dialogue: 0,0:07:08.45,0:07:10.61,Default,,0000,0000,0000,,masternodes or delegated proof of stake
Dialogue: 0,0:07:10.61,0:07:12.20,Default,,0000,0000,0000,,it's all historically resulted in
Dialogue: 0,0:07:12.20,0:07:13.40,Default,,0000,0000,0000,,delegating or giving the responsibility
Dialogue: 0,0:07:13.40,0:07:15.53,Default,,0000,0000,0000,,and voting power back to a smaller group
Dialogue: 0,0:07:15.53,0:07:17.87,Default,,0000,0000,0000,,of people so it can scale more so that's
Dialogue: 0,0:07:17.87,0:07:19.07,Default,,0000,0000,0000,,been a big point of contention and a
Dialogue: 0,0:07:19.07,0:07:20.63,Default,,0000,0000,0000,,hard problem to solve for everybody in
Dialogue: 0,0:07:20.63,0:07:22.22,Default,,0000,0000,0000,,this space is how do you scale this
Dialogue: 0,0:07:22.22,0:07:23.99,Default,,0000,0000,0000,,stuff without is making it centralised
Dialogue: 0,0:07:23.99,0:07:25.31,Default,,0000,0000,0000,,again and some people will say there's a
Dialogue: 0,0:07:25.31,0:07:26.72,Default,,0000,0000,0000,,threshold where there's acceptable
Dialogue: 0,0:07:26.72,0:07:28.22,Default,,0000,0000,0000,,centralization like something like
Dialogue: 0,0:07:28.22,0:07:30.02,Default,,0000,0000,0000,,delegated proof of stake but other than
Dialogue: 0,0:07:30.02,0:07:31.16,Default,,0000,0000,0000,,I think this is the way that aetherium
Dialogue: 0,0:07:31.16,0:07:33.14,Default,,0000,0000,0000,,and vitalic think that no we don't want
Dialogue: 0,0:07:33.14,0:07:34.49,Default,,0000,0000,0000,,to have trusted individuals or entities
Dialogue: 0,0:07:34.49,0:07:36.17,Default,,0000,0000,0000,,out there we want to maintain a
Dialogue: 0,0:07:36.17,0:07:38.00,Default,,0000,0000,0000,,decentralized network but try and
Dialogue: 0,0:07:38.00,0:07:39.17,Default,,0000,0000,0000,,achieve scaling through smart
Dialogue: 0,0:07:39.17,0:07:40.88,Default,,0000,0000,0000,,technologies and new solutions more
Dialogue: 0,0:07:40.88,0:07:41.90,Default,,0000,0000,0000,,recently people have moved to a
Dialogue: 0,0:07:41.90,0:07:43.67,Default,,0000,0000,0000,,narrative where second layer solutions
Dialogue: 0,0:07:43.67,0:07:44.93,Default,,0000,0000,0000,,are gonna be the thing that helps us
Dialogue: 0,0:07:44.93,0:07:46.70,Default,,0000,0000,0000,,scale these second layer protocols and
Dialogue: 0,0:07:46.70,0:07:48.44,Default,,0000,0000,0000,,things like plasma the state channels
Dialogue: 0,0:07:48.44,0:07:49.73,Default,,0000,0000,0000,,which I'll have to do a video on in the
Dialogue: 0,0:07:49.73,0:07:51.17,Default,,0000,0000,0000,,future it's been asked for a lot or
Dialogue: 0,0:07:51.17,0:07:52.40,Default,,0000,0000,0000,,something like the Lightning Network for
Dialogue: 0,0:07:52.40,0:07:53.87,Default,,0000,0000,0000,,payment channels or Braeden which does
Dialogue: 0,0:07:53.87,0:07:55.34,Default,,0000,0000,0000,,that on aetherium these are great
Dialogue: 0,0:07:55.34,0:07:56.99,Default,,0000,0000,0000,,innovative solutions I think there's two
Dialogue: 0,0:07:56.99,0:07:58.88,Default,,0000,0000,0000,,problems with them first I think the use
Dialogue: 0,0:07:58.88,0:08:00.74,Default,,0000,0000,0000,,cases are limited because there's a
Dialogue: 0,0:08:00.74,0:08:02.27,Default,,0000,0000,0000,,certain type of payment relationship
Dialogue: 0,0:08:02.27,0:08:04.01,Default,,0000,0000,0000,,that has to exist in these second layer
Dialogue: 0,0:08:04.01,0:08:05.90,Default,,0000,0000,0000,,protocols but outside of this all of
Dialogue: 0,0:08:05.90,0:08:07.67,Default,,0000,0000,0000,,these second layer protocols still rely
Dialogue: 0,0:08:07.67,0:08:09.74,Default,,0000,0000,0000,,on the main chain for finality so if you
Dialogue: 0,0:08:09.74,0:08:11.06,Default,,0000,0000,0000,,want to close out a payment channel and
Dialogue: 0,0:08:11.06,0:08:12.68,Default,,0000,0000,0000,,move your Bitcoin to someone else in
Dialogue: 0,0:08:12.68,0:08:14.69,Default,,0000,0000,0000,,Bitcoin you still have to do that on the
Dialogue: 0,0:08:14.69,0:08:16.61,Default,,0000,0000,0000,,main chain you're reliant on that main
Dialogue: 0,0:08:16.61,0:08:19.01,Default,,0000,0000,0000,,chain and its scalability and its costs
Dialogue: 0,0:08:19.01,0:08:20.12,Default,,0000,0000,0000,,the good news with second layer
Dialogue: 0,0:08:20.12,0:08:22.04,Default,,0000,0000,0000,,solutions like plasma and Radin and all
Dialogue: 0,0:08:22.04,0:08:23.30,Default,,0000,0000,0000,,of these technologies is that they
Dialogue: 0,0:08:23.30,0:08:24.80,Default,,0000,0000,0000,,aren't really pegged to the etherium
Dialogue: 0,0:08:24.80,0:08:26.57,Default,,0000,0000,0000,,roadmap so they can release at their own
Dialogue: 0,0:08:26.57,0:08:28.01,Default,,0000,0000,0000,,leisure there's a lot of work being done
Dialogue: 0,0:08:28.01,0:08:29.96,Default,,0000,0000,0000,,on things like plasma I don't think
Dialogue: 0,0:08:29.96,0:08:31.07,Default,,0000,0000,0000,,we'll see more than an alpha
Dialogue: 0,0:08:31.07,0:08:32.78,Default,,0000,0000,0000,,implementation of that in 2018 because
Dialogue: 0,0:08:32.78,0:08:34.73,Default,,0000,0000,0000,,it's such a new cutting-edge technology
Dialogue: 0,0:08:34.73,0:08:35.99,Default,,0000,0000,0000,,we'll probably see something that's
Dialogue: 0,0:08:35.99,0:08:38.15,Default,,0000,0000,0000,,actually working on main net sometime in
Dialogue: 0,0:08:38.15,0:08:40.16,Default,,0000,0000,0000,,2019 just be clear I'm sure that people
Dialogue: 0,0:08:40.16,0:08:41.78,Default,,0000,0000,0000,,experiment with stuff on main net in
Dialogue: 0,0:08:41.78,0:08:43.40,Default,,0000,0000,0000,,2018 but I don't think it'll be
Dialogue: 0,0:08:43.40,0:08:45.26,Default,,0000,0000,0000,,production-ready or easily accessible to
Dialogue: 0,0:08:45.26,0:08:47.42,Default,,0000,0000,0000,,non developer users but again that
Dialogue: 0,0:08:47.42,0:08:48.53,Default,,0000,0000,0000,,doesn't get at the root of the problem
Dialogue: 0,0:08:48.53,0:08:50.47,Default,,0000,0000,0000,,how do we solve scaling on the mange
Dialogue: 0,0:08:50.47,0:08:52.45,Default,,0000,0000,0000,,and something called sharding is vital
Dialogue: 0,0:08:52.45,0:08:54.31,Default,,0000,0000,0000,,excurrent proposal for how we do that
Dialogue: 0,0:08:54.31,0:08:55.75,Default,,0000,0000,0000,,essentially what sharding does is it
Dialogue: 0,0:08:55.75,0:08:57.28,Default,,0000,0000,0000,,breaks the network into hundreds if not
Dialogue: 0,0:08:57.28,0:08:59.11,Default,,0000,0000,0000,,thousands of mini block chains and
Dialogue: 0,0:08:59.11,0:09:00.58,Default,,0000,0000,0000,,they're all independent but the cool
Dialogue: 0,0:09:00.58,0:09:01.84,Default,,0000,0000,0000,,thing about these block chains is that
Dialogue: 0,0:09:01.84,0:09:03.67,Default,,0000,0000,0000,,they inherit the same security model and
Dialogue: 0,0:09:03.67,0:09:05.14,Default,,0000,0000,0000,,consensus so you're not having to worry
Dialogue: 0,0:09:05.14,0:09:06.79,Default,,0000,0000,0000,,about independent consensus on every
Dialogue: 0,0:09:06.79,0:09:08.62,Default,,0000,0000,0000,,single mini block chain these sub block
Dialogue: 0,0:09:08.62,0:09:09.97,Default,,0000,0000,0000,,chains can scale better because they
Dialogue: 0,0:09:09.97,0:09:11.95,Default,,0000,0000,0000,,exist for a specific purpose you're not
Dialogue: 0,0:09:11.95,0:09:13.39,Default,,0000,0000,0000,,trying to do thousands and thousands of
Dialogue: 0,0:09:13.39,0:09:15.28,Default,,0000,0000,0000,,different things on the one main chain
Dialogue: 0,0:09:15.28,0:09:16.33,Default,,0000,0000,0000,,like we're currently doing with
Dialogue: 0,0:09:16.33,0:09:18.28,Default,,0000,0000,0000,,aetherium smart contracts other people
Dialogue: 0,0:09:18.28,0:09:19.57,Default,,0000,0000,0000,,have already thought about this kind of
Dialogue: 0,0:09:19.57,0:09:21.31,Default,,0000,0000,0000,,mini blockchain proposal and essentially
Dialogue: 0,0:09:21.31,0:09:22.72,Default,,0000,0000,0000,,having a network of these block chains
Dialogue: 0,0:09:22.72,0:09:24.64,Default,,0000,0000,0000,,or participating in the same consensus
Dialogue: 0,0:09:24.64,0:09:25.78,Default,,0000,0000,0000,,i've talked about some of these before
Dialogue: 0,0:09:25.78,0:09:27.67,Default,,0000,0000,0000,,in my cross chain protocols video which
Dialogue: 0,0:09:27.67,0:09:29.29,Default,,0000,0000,0000,,i recommend you go and watch but some
Dialogue: 0,0:09:29.29,0:09:31.03,Default,,0000,0000,0000,,examples are polka dot or the cosmos
Dialogue: 0,0:09:31.03,0:09:32.71,Default,,0000,0000,0000,,network if italic wants to implement
Dialogue: 0,0:09:32.71,0:09:34.00,Default,,0000,0000,0000,,this natively in aetherium and i
Dialogue: 0,0:09:34.00,0:09:35.20,Default,,0000,0000,0000,,recommend you go and watch this video
Dialogue: 0,0:09:35.20,0:09:37.12,Default,,0000,0000,0000,,from the beyond block conference in
Dialogue: 0,0:09:37.12,0:09:39.07,Default,,0000,0000,0000,,taipei where he basically outlined his
Dialogue: 0,0:09:39.07,0:09:40.93,Default,,0000,0000,0000,,proposal this is all very new and a
Dialogue: 0,0:09:40.93,0:09:42.79,Default,,0000,0000,0000,,three to five year plan that vitalic is
Dialogue: 0,0:09:42.79,0:09:44.11,Default,,0000,0000,0000,,laying out here so I don't think we'll
Dialogue: 0,0:09:44.11,0:09:45.67,Default,,0000,0000,0000,,even see an alpha implementation of it
Dialogue: 0,0:09:45.67,0:09:47.47,Default,,0000,0000,0000,,in 2018 we'll probably see more written
Dialogue: 0,0:09:47.47,0:09:49.36,Default,,0000,0000,0000,,specs and research into the idea of
Dialogue: 0,0:09:49.36,0:09:51.04,Default,,0000,0000,0000,,sharding but I don't think we'll see an
Dialogue: 0,0:09:51.04,0:09:52.45,Default,,0000,0000,0000,,implementation that anybody can touch
Dialogue: 0,0:09:52.45,0:09:54.22,Default,,0000,0000,0000,,until sometime in 2019
Dialogue: 0,0:09:54.22,0:09:55.87,Default,,0000,0000,0000,,as for what Fork that'll eventually end
Dialogue: 0,0:09:55.87,0:09:57.85,Default,,0000,0000,0000,,up in who knows it'll be sometime far in
Dialogue: 0,0:09:57.85,0:09:59.68,Default,,0000,0000,0000,,the future probably post the Serenity
Dialogue: 0,0:09:59.68,0:10:00.07,Default,,0000,0000,0000,,fork
Dialogue: 0,0:10:00.07,0:10:01.75,Default,,0000,0000,0000,,so that's consensus and scaling I think
Dialogue: 0,0:10:01.75,0:10:02.86,Default,,0000,0000,0000,,there's some cutting edge cool
Dialogue: 0,0:10:02.86,0:10:04.21,Default,,0000,0000,0000,,technology that's gonna solve these
Dialogue: 0,0:10:04.21,0:10:05.83,Default,,0000,0000,0000,,problems but it's still a little ways
Dialogue: 0,0:10:05.83,0:10:07.51,Default,,0000,0000,0000,,out I think the first we'll see is
Dialogue: 0,0:10:07.51,0:10:10.57,Default,,0000,0000,0000,,Kasper FFG sometime in 2018 mid to late
Dialogue: 0,0:10:10.57,0:10:12.52,Default,,0000,0000,0000,,2018 most likely but in addition to
Dialogue: 0,0:10:12.52,0:10:14.17,Default,,0000,0000,0000,,consensus and scalability there are some
Dialogue: 0,0:10:14.17,0:10:15.61,Default,,0000,0000,0000,,other concerns that people had and
Dialogue: 0,0:10:15.61,0:10:17.14,Default,,0000,0000,0000,,people are working on cool solutions to
Dialogue: 0,0:10:17.14,0:10:18.37,Default,,0000,0000,0000,,those first I want to bring up is
Dialogue: 0,0:10:18.37,0:10:20.26,Default,,0000,0000,0000,,privacy and aetherium operates a lot
Dialogue: 0,0:10:20.26,0:10:22.12,Default,,0000,0000,0000,,like Bitcoin today and that everything
Dialogue: 0,0:10:22.12,0:10:23.62,Default,,0000,0000,0000,,is open and transparent and you can see
Dialogue: 0,0:10:23.62,0:10:25.39,Default,,0000,0000,0000,,what everybody else is doing some people
Dialogue: 0,0:10:25.39,0:10:26.56,Default,,0000,0000,0000,,don't like this and this is why they use
Dialogue: 0,0:10:26.56,0:10:28.78,Default,,0000,0000,0000,,coins such as Z cash or manera go on
Dialogue: 0,0:10:28.78,0:10:30.07,Default,,0000,0000,0000,,watch my privacy coin video if you
Dialogue: 0,0:10:30.07,0:10:31.39,Default,,0000,0000,0000,,haven't already the good news for
Dialogue: 0,0:10:31.39,0:10:33.19,Default,,0000,0000,0000,,privacy on a theorem is that most of the
Dialogue: 0,0:10:33.19,0:10:34.69,Default,,0000,0000,0000,,legwork is actually being done it was a
Dialogue: 0,0:10:34.69,0:10:36.76,Default,,0000,0000,0000,,hard fork back in 2017 which introduced
Dialogue: 0,0:10:36.76,0:10:38.86,Default,,0000,0000,0000,,CK snarks so you can use that in smart
Dialogue: 0,0:10:38.86,0:10:40.66,Default,,0000,0000,0000,,contracts CK stocks or zero knowledge
Dialogue: 0,0:10:40.66,0:10:42.46,Default,,0000,0000,0000,,proof or a technology that are used in Z
Dialogue: 0,0:10:42.46,0:10:44.77,Default,,0000,0000,0000,,cash to implement its privacy layer and
Dialogue: 0,0:10:44.77,0:10:46.18,Default,,0000,0000,0000,,so all the fundamentals are actually
Dialogue: 0,0:10:46.18,0:10:48.01,Default,,0000,0000,0000,,already in aetherium somebody just has
Dialogue: 0,0:10:48.01,0:10:49.57,Default,,0000,0000,0000,,to start writing smart contracts which
Dialogue: 0,0:10:49.57,0:10:51.37,Default,,0000,0000,0000,,leverage this in a smart way and I
Dialogue: 0,0:10:51.37,0:10:52.63,Default,,0000,0000,0000,,haven't really seen an implementation of
Dialogue: 0,0:10:52.63,0:10:54.22,Default,,0000,0000,0000,,a token or anything that's utilizing
Dialogue: 0,0:10:54.22,0:10:56.05,Default,,0000,0000,0000,,this technology to its fullest just yet
Dialogue: 0,0:10:56.05,0:10:57.73,Default,,0000,0000,0000,,I would anticipate in 2018 we're gonna
Dialogue: 0,0:10:57.73,0:10:59.29,Default,,0000,0000,0000,,see some people start leveraging the
Dialogue: 0,0:10:59.29,0:11:01.66,Default,,0000,0000,0000,,fact that ZK stocks can be used in smart
Dialogue: 0,0:11:01.66,0:11:02.95,Default,,0000,0000,0000,,contracts and we'll see some more
Dialogue: 0,0:11:02.95,0:11:03.60,Default,,0000,0000,0000,,privacy
Dialogue: 0,0:11:03.60,0:11:04.83,Default,,0000,0000,0000,,focused initiatives on top of the
Dialogue: 0,0:11:04.83,0:11:06.51,Default,,0000,0000,0000,,theorem but this will be second layer it
Dialogue: 0,0:11:06.51,0:11:08.40,Default,,0000,0000,0000,,won't be built into aetherium natively
Dialogue: 0,0:11:08.40,0:11:09.84,Default,,0000,0000,0000,,the second concern that a lot of people
Dialogue: 0,0:11:09.84,0:11:11.43,Default,,0000,0000,0000,,have had is just security concerns
Dialogue: 0,0:11:11.43,0:11:13.56,Default,,0000,0000,0000,,around aetherium smart contracts due to
Dialogue: 0,0:11:13.56,0:11:15.63,Default,,0000,0000,0000,,bugs and smart contract code in 2017 we
Dialogue: 0,0:11:15.63,0:11:17.49,Default,,0000,0000,0000,,saw hundreds of millions of dollars be
Dialogue: 0,0:11:17.49,0:11:19.32,Default,,0000,0000,0000,,stolen by exploit is one of the most
Dialogue: 0,0:11:19.32,0:11:21.00,Default,,0000,0000,0000,,notable examples of this was the parody
Dialogue: 0,0:11:21.00,0:11:22.29,Default,,0000,0000,0000,,wallet hack that happened where
Dialogue: 0,0:11:22.29,0:11:23.07,Default,,0000,0000,0000,,everybody that was using the
Dialogue: 0,0:11:23.07,0:11:24.69,Default,,0000,0000,0000,,out-of-the-box multi-sig wallet the
Dialogue: 0,0:11:24.69,0:11:26.67,Default,,0000,0000,0000,,parody basically lost their money this
Dialogue: 0,0:11:26.67,0:11:28.38,Default,,0000,0000,0000,,included a lot of those icos who raised
Dialogue: 0,0:11:28.38,0:11:29.88,Default,,0000,0000,0000,,millions and millions of dollars so
Dialogue: 0,0:11:29.88,0:11:31.29,Default,,0000,0000,0000,,there's a lot of angry people the good
Dialogue: 0,0:11:31.29,0:11:32.43,Default,,0000,0000,0000,,news is there are several initiatives
Dialogue: 0,0:11:32.43,0:11:34.38,Default,,0000,0000,0000,,focusing on how we solve that first
Dialogue: 0,0:11:34.38,0:11:35.52,Default,,0000,0000,0000,,there is actually an attempt to bring a
Dialogue: 0,0:11:35.52,0:11:37.23,Default,,0000,0000,0000,,better programming language to smart
Dialogue: 0,0:11:37.23,0:11:38.64,Default,,0000,0000,0000,,contracts right now that a factor
Dialogue: 0,0:11:38.64,0:11:39.99,Default,,0000,0000,0000,,language for writing etherium smart
Dialogue: 0,0:11:39.99,0:11:41.73,Default,,0000,0000,0000,,contracts is something called solidity
Dialogue: 0,0:11:41.73,0:11:43.26,Default,,0000,0000,0000,,and while it's relatively easy for new
Dialogue: 0,0:11:43.26,0:11:44.97,Default,,0000,0000,0000,,developers to pick up it leaves a lot of
Dialogue: 0,0:11:44.97,0:11:45.99,Default,,0000,0000,0000,,room for these developers to make
Dialogue: 0,0:11:45.99,0:11:47.61,Default,,0000,0000,0000,,mistakes which makes this mock contract
Dialogue: 0,0:11:47.61,0:11:49.17,Default,,0000,0000,0000,,vulnerable is a new smart contract
Dialogue: 0,0:11:49.17,0:11:50.58,Default,,0000,0000,0000,,language being developed called VIPRE
Dialogue: 0,0:11:50.58,0:11:52.92,Default,,0000,0000,0000,,which is an alternative to solidity and
Dialogue: 0,0:11:52.92,0:11:54.42,Default,,0000,0000,0000,,it has a lot more security features
Dialogue: 0,0:11:54.42,0:11:55.71,Default,,0000,0000,0000,,limiting down the methods you can
Dialogue: 0,0:11:55.71,0:11:57.36,Default,,0000,0000,0000,,actually access basically making it
Dialogue: 0,0:11:57.36,0:11:58.86,Default,,0000,0000,0000,,harder for developers to unknowingly
Dialogue: 0,0:11:58.86,0:12:00.84,Default,,0000,0000,0000,,include exploits in their code it's
Dialogue: 0,0:12:00.84,0:12:02.19,Default,,0000,0000,0000,,actually an alpha right now and you can
Dialogue: 0,0:12:02.19,0:12:03.42,Default,,0000,0000,0000,,go and use it that just doesn't seem to
Dialogue: 0,0:12:03.42,0:12:04.71,Default,,0000,0000,0000,,be a lot of people using it right now
Dialogue: 0,0:12:04.71,0:12:06.57,Default,,0000,0000,0000,,but it is being actively developed and
Dialogue: 0,0:12:06.57,0:12:07.95,Default,,0000,0000,0000,,the second approach to smart contract
Dialogue: 0,0:12:07.95,0:12:09.15,Default,,0000,0000,0000,,security and this is kind of the Holy
Dialogue: 0,0:12:09.15,0:12:10.80,Default,,0000,0000,0000,,Grail is something called formal
Dialogue: 0,0:12:10.80,0:12:12.66,Default,,0000,0000,0000,,verification I spoke about formal
Dialogue: 0,0:12:12.66,0:12:14.37,Default,,0000,0000,0000,,verification in the past in my what is a
Dialogue: 0,0:12:14.37,0:12:16.14,Default,,0000,0000,0000,,smart contract video when I was talking
Dialogue: 0,0:12:16.14,0:12:17.55,Default,,0000,0000,0000,,about tezo's they're doing something
Dialogue: 0,0:12:17.55,0:12:19.32,Default,,0000,0000,0000,,similar with formally verifiable smart
Dialogue: 0,0:12:19.32,0:12:21.03,Default,,0000,0000,0000,,contracts and code be formally
Dialogue: 0,0:12:21.03,0:12:22.41,Default,,0000,0000,0000,,verifiable means that code can
Dialogue: 0,0:12:22.41,0:12:24.45,Default,,0000,0000,0000,,essentially be proven mathematically to
Dialogue: 0,0:12:24.45,0:12:26.25,Default,,0000,0000,0000,,do what it says on the box so without
Dialogue: 0,0:12:26.25,0:12:27.66,Default,,0000,0000,0000,,having to run that code yourself and
Dialogue: 0,0:12:27.66,0:12:29.61,Default,,0000,0000,0000,,hunt for exploits basically you can
Dialogue: 0,0:12:29.61,0:12:31.23,Default,,0000,0000,0000,,prove mathematically that the code just
Dialogue: 0,0:12:31.23,0:12:32.85,Default,,0000,0000,0000,,does what it says to use formal
Dialogue: 0,0:12:32.85,0:12:34.17,Default,,0000,0000,0000,,verification though you usually have to
Dialogue: 0,0:12:34.17,0:12:36.06,Default,,0000,0000,0000,,adhere to a very strict syntax in the
Dialogue: 0,0:12:36.06,0:12:37.62,Default,,0000,0000,0000,,way you write your smart contracts which
Dialogue: 0,0:12:37.62,0:12:39.12,Default,,0000,0000,0000,,can be good because it encourages best
Dialogue: 0,0:12:39.12,0:12:41.31,Default,,0000,0000,0000,,practices but you also often have to use
Dialogue: 0,0:12:41.31,0:12:42.60,Default,,0000,0000,0000,,a separate coding language altogether
Dialogue: 0,0:12:42.60,0:12:44.73,Default,,0000,0000,0000,,that is formally verifiable itself
Dialogue: 0,0:12:44.73,0:12:46.02,Default,,0000,0000,0000,,there's a lot of research going into
Dialogue: 0,0:12:46.02,0:12:47.79,Default,,0000,0000,0000,,this but it is cutting edge so I don't
Dialogue: 0,0:12:47.79,0:12:49.26,Default,,0000,0000,0000,,expect we're gonna see a lot of movement
Dialogue: 0,0:12:49.26,0:12:51.12,Default,,0000,0000,0000,,in this in 2018 but it's something to
Dialogue: 0,0:12:51.12,0:12:52.53,Default,,0000,0000,0000,,keep an eye on it's the way I think that
Dialogue: 0,0:12:52.53,0:12:54.72,Default,,0000,0000,0000,,all smart contracts and all code in the
Dialogue: 0,0:12:54.72,0:12:56.37,Default,,0000,0000,0000,,future is gonna be written as well so
Dialogue: 0,0:12:56.37,0:12:57.78,Default,,0000,0000,0000,,that you can verify that something does
Dialogue: 0,0:12:57.78,0:12:59.28,Default,,0000,0000,0000,,what it says it does without having to
Dialogue: 0,0:12:59.28,0:13:01.05,Default,,0000,0000,0000,,go hunt for bugs again the cool thing
Dialogue: 0,0:13:01.05,0:13:02.01,Default,,0000,0000,0000,,about the two things that I just
Dialogue: 0,0:13:02.01,0:13:02.91,Default,,0000,0000,0000,,mentioned is that they can be
Dialogue: 0,0:13:02.91,0:13:04.59,Default,,0000,0000,0000,,implemented completely independently of
Dialogue: 0,0:13:04.59,0:13:06.87,Default,,0000,0000,0000,,the etherium roadmap and any changes to
Dialogue: 0,0:13:06.87,0:13:08.88,Default,,0000,0000,0000,,your theorem protocol itself so if you
Dialogue: 0,0:13:08.88,0:13:10.23,Default,,0000,0000,0000,,combine all the things I've talked about
Dialogue: 0,0:13:10.23,0:13:11.70,Default,,0000,0000,0000,,today that's actually quite a lot of
Dialogue: 0,0:13:11.70,0:13:13.44,Default,,0000,0000,0000,,movement happening on the etherium front
Dialogue: 0,0:13:13.44,0:13:14.94,Default,,0000,0000,0000,,so that's my roundup of the etherium
Dialogue: 0,0:13:14.94,0:13:16.05,Default,,0000,0000,0000,,roadmap what's happening with the
Dialogue: 0,0:13:16.05,0:13:17.91,Default,,0000,0000,0000,,protocol itself in the court
Dialogue: 0,0:13:17.91,0:13:19.56,Default,,0000,0000,0000,,but also with the secondary layer stuff
Dialogue: 0,0:13:19.56,0:13:21.60,Default,,0000,0000,0000,,and the tooling around it I think 2017
Dialogue: 0,0:13:21.60,0:13:22.62,Default,,0000,0000,0000,,really set aetherium
Dialogue: 0,0:13:22.62,0:13:24.06,Default,,0000,0000,0000,,up so that all the eyes are on its
Dialogue: 0,0:13:24.06,0:13:25.26,Default,,0000,0000,0000,,development and now it's really up to
Dialogue: 0,0:13:25.26,0:13:26.43,Default,,0000,0000,0000,,the development community behind
Dialogue: 0,0:13:26.43,0:13:28.23,Default,,0000,0000,0000,,aetherium basically take it forward and
Dialogue: 0,0:13:28.23,0:13:29.97,Default,,0000,0000,0000,,prove that it can scale in a secure way
Dialogue: 0,0:13:29.97,0:13:31.26,Default,,0000,0000,0000,,so what do you think does the future of
Dialogue: 0,0:13:31.26,0:13:32.79,Default,,0000,0000,0000,,aetherium look bright let me know in the
Dialogue: 0,0:13:32.79,0:13:34.17,Default,,0000,0000,0000,,comments and also let me know if there
Dialogue: 0,0:13:34.17,0:13:35.31,Default,,0000,0000,0000,,was anything that I've missed that's on
Dialogue: 0,0:13:35.31,0:13:36.63,Default,,0000,0000,0000,,the roadmap that you're really excited
Dialogue: 0,0:13:36.63,0:13:37.89,Default,,0000,0000,0000,,about if you found this video useful
Dialogue: 0,0:13:37.89,0:13:39.66,Default,,0000,0000,0000,,please slam that like button it really
Dialogue: 0,0:13:39.66,0:13:41.61,Default,,0000,0000,0000,,helps out and like I said earlier hit
Dialogue: 0,0:13:41.61,0:13:43.11,Default,,0000,0000,0000,,the subscribe button so you get weekly
Dialogue: 0,0:13:43.11,0:13:44.85,Default,,0000,0000,0000,,updates when I post these videos and
Dialogue: 0,0:13:44.85,0:13:46.74,Default,,0000,0000,0000,,also when I do my Sunday live stream if
Dialogue: 0,0:13:46.74,0:13:48.06,Default,,0000,0000,0000,,you like this content and you want to
Dialogue: 0,0:13:48.06,0:13:49.47,Default,,0000,0000,0000,,support the creation of more videos just
Dialogue: 0,0:13:49.47,0:13:51.93,Default,,0000,0000,0000,,like this one jump over to patreon calm
Dialogue: 0,0:13:51.93,0:13:53.91,Default,,0000,0000,0000,,for word slash I'm Jackson and you can
Dialogue: 0,0:13:53.91,0:13:55.38,Default,,0000,0000,0000,,support these videos and get access to
Dialogue: 0,0:13:55.38,0:13:57.36,Default,,0000,0000,0000,,all sorts of exclusive perks like early
Dialogue: 0,0:13:57.36,0:13:59.79,Default,,0000,0000,0000,,access to videos exclusive patreon only
Dialogue: 0,0:13:59.79,0:14:01.44,Default,,0000,0000,0000,,hangouts and more thanks for watching I
Dialogue: 0,0:14:01.44,0:14:02.43,Default,,0000,0000,0000,,hope you found this helpful
Dialogue: 0,0:14:02.43,0:14:04.08,Default,,0000,0000,0000,,until next time I'll see you later
Dialogue: 0,0:14:04.08,0:14:13.39,Default,,0000,0000,0000,,[Music]
Dialogue: 0,0:14:13.57,0:14:15.44,Default,,0000,0000,0000,,you
Dialogue: 0,0:14:15.44,0:00:00.00,Default,,0000,0000,0000,,[Music]