[Music]
all right thank you thanks for having me
so I'm going to give you uh five minutes
five minutes to explain the whole
history of blockchain architecture uh
it's going to be a lightning thing it's
not going to be difficult it's going to
be diagrams uh and let's walk it
through okay a little bit history lesson
so Bitcoin was the first ever
implementation of of the blockchain
now he didn't really say it but there
are three key things that everyone who
jumps into blockchain needs to think
about in terms of how architecture is
designed so firstly you have state so
state is like how much money do you have
what has happened is it a yes or is it a
no for a contract or stuff like this you
have uh block space and processing so
what that means is uh you have state but
this state needs to change and you
collect transactions uh and these
transactions then need to walk through
its part half uh towards a new State uh
so you do need some kind of a place to
put these transactions and you need a
place to put these transactions on the
Chain so that everyone can see uh in
Bitcoin it was always that same one
known at a P2P level uh that same
architecture that's shared across many
many many nodes uh and essentially the
third part is okay uh we have a state
this state is moving over time we call
that blockchain and then the third thing
is uh which uh chain which chain uh
which what we call f f rule which chain
is the the the truth of the data uh and
we call it uh consensus you can think of
it this way there are true finite uh
Concepts in life there's Capital that's
finite there's machines that's finite so
one way or another with finite machines
or Capital that's going to vote on which
is the true state of things uh that's
that's the way forward and you can see
that large area is kind of like how much
that capital e economic sity is so over
time like people were like okay let's
let's find more use cases so and when
they did that you know they they just
like initially it wasn't too interesting
so things were like you know just for
for Bitcoin uh Implement similar ideas
around State transitions block based
processes and cryptoeconomic security
now that's where ethereum comes in right
so that's where crypto economic security
has a very new lens right so
cryptoeconomic security is not just
about uh the stake that's been done by
validators um Now with uh applications
that live on the chain that state
actually on the application Level with
ERC 20s and all sorts of different
assets uh funable assets non-fungible
assets they become like new areas of
cryptoeconomic uh Capital that has to be
secured by the fundamental layer uh
that's where we talk about rollups right
so rollups is where that uh fundamental
Capital that sits on on their on the L1
then gets into a position where okay
it's kind of like being used to choose
uh Fork fullness of the layer two rollup
so you would think that the layer two
itself there's also a block space and
co-processor there's also a state and
that state requires some transaction
function across a set of blocks uh yeah
and initially this was really expensive
because we put all data or into what we
call call data and that's on uh a place
right directly onto ethereum
subsequently we develop um this thing
called blobs which kind of like a data
layer that's uh a first class citizen uh
where it's s like a separate fee Market
from General transactions and it only
lasts for like a short period of time
bunch of weeks before it's destroyed so
that way you can prove things with these
blobs uh to move the chain forward but
you don't need to keep all the data on
chain uh that's when we actually have
new kinds of data availability as well
there are new L1 created like Celestia
which have their own State transitions
but their goal is to keep data temporary
um that is s like uh you know and yet
again looks like a fork uh and then
subsequently we have like Igan layer and
uh symbiotic and karak which then talk
about reate Capital where then they use
reate Capital as a way to then create
new protocols uh and that creates things
like a data of variability on like I now
all this being said me fees really cheap
so the issue is that all the l2s have
really cheap but what about the fees on
the L1 so new types of designs like Bas
roll up architecture help sequencing on
the L1 so to collect more fees and me uh
and these things are like still in in
progress the question is profitability
of Base rollups uh whether this will be
something sustainable over time yeah uh
but with that it creates new ways to use
the restate capital I talked about so
you can imagine ethereum is a 12C block
time but you want a pre-con something
that's really fast just like the 2 3
second you find on mantal network um and
so the way to do it is like restate
capital from igon layer and symbiotic
that can then be included in some kind
of inclusion list yeah with that that's
where we are inclusion list based
rollups question mark uh standard
rollups l2s optimums and uh validium are
different kinds of ways for offchain
data and we are truly an infinite uh
Garden where there's so many
architectures this ecosystem is so many
and we will continue to push the best
architecture for this ecosystem thank
you wow that was on the spot um we are
going to take a couple of questions for
this session so uh you can ask ask them
through the application or just raise
your hand and ask and I'll repeat into
microphone so is anybody here have a
question okay if not they can find you
later and ask you anything thank you
thank you a lot