{"id":"MRuVnxq9BVY","title":"NEAR is the Blockchain for AI","description":"NEAR is the Blockchain for AI. This talk highlights NEAR AI, a platform focused on user-owned artificial intelligence, and NEAR Intents, which streamline complex blockchain interactions. Learn about Chain Abstraction, enabling smooth cross-chain functionality, and the advancements brought by Nightshade 2.0, scaling NEAR to support billions of transactions. Discover how NEAR Hub connects data, models, and compute resources to drive decentralized AI innovation. NEAR is more than a blockchain—it's the foundation for an AI-driven Web3 future.\n\nIllia Polosukin - NEAR\nAlex Skidanov - NEAR AI\nAlex Shevchenko  - Aurora Labs\nKendall Cole - Proximity Labs\nBowen Wang - NEAR One\n\nTakeaways:\nNightshade 2.0 Upgrade: NEAR Protocol has achieved a major upgrade with Nightshade 2.0, delivering unmatched scalability, zero downtime, and optimized transaction efficiency.\n\nUser-Owned AI Initiative: NEAR prioritizes user data ownership and decentralized AI tools, reducing reliance on centralized entities while empowering personal control and innovation.\n\nChain Abstraction: Seamlessly connecting multiple blockchains, NEAR enables fluid interactions across ecosystems, fostering collaboration and ease of use.\n\nIntents for Complex Transactions: NEAR’s new transaction model supports advanced interactions, including dispute resolution and secure data sharing, paving the way for real-world blockchain applications.\n\nSharded Blockchain Infrastructure: NEAR’s scalable and dynamic system supports billions of transactions, ensuring efficient operations for both users and AI agents.\n\nNEAR is the Blockchain for AI\nWebsite: https://near.org/\nNEAR AI: https://near.ai/\nIntents: https://near.org/intents\nChain Abstraction: https://www.proximity.dev/\nSharding: https://nearone.org/\n\nFor the devs\nGitHub: https://github.com/near \nDev Docs: https://docs.near.org/\nDevhub: https://devhub.near.page/ @NEARDevHub\n\nConnect with socials\nTwitter:   / nearprotocol  \nBlog: https://near.org/blog/\nMedium:   / nearprotocol  \n#NEAR #nearprotocol #NEARAI","channel_name":"NEAR Protocol","published_at":"2024-11-19T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/MRuVnxq9BVY/hqdefault.jpg","transcript_text":"hello everyone hope you're having a great morning uh I want to thank everyone for coming and if you're across kind of broader web3 ecosystem joining this movement uh I think this is something that's at the core of the spirit in web 3 of reclaiming your sovereignty of controlling your assets controlling your data your own choice and it's exciting to see this movement continues growing and uh we continue advancing this Mission so today I want to talk about near being a block for AI and I want to introduce um kind of what we've been working on across the stack and then we'll have uh dive in from Alex kidana Alex shenko Kendall and Bowen talking about how different pieces of what we're working on fit together and really powering this extremely unique opportunity we are in right now so first of all I want to say huge congratulations to the protocol team and this whole near ecosystem for launching Nightshade 2.0 let's let's give a this is something that we set out to do back in 2018 to build a sharded blockchain that is able to continue scaling for any demand coming in for billions of users for trillions of transactions and it took us some time it took a lot of research it took a lot of development but nitr 2.0 was the biggest upgrade since mainnet went without a hitch we have not had any downtime in kind of uh in the network and kind of the protocol is continue upgrading we just had another upgrade actually today uh reducing gas usage increasing throughput of the network so it's amazing to see this progress and I'm really exciting for excited to hear Bowen's talk with more details on that now what this enabled among other things is to make near the home for Consumer crypto right instead of uh paying you know massive fees waiting for long transactions instead of you know having unreliable Network where you send a trans action and 30 seconds later it says block has expired you have something where you know users can unboard really easily and start using they already have you know effectively a consumer experience that they're familiar with in case of Kai Kai and sweat and are able to use this extremely easy right and we have especially I want to call out K Kai which had 250% growth in their user base since the year start uh hot launched this year and grew to 20 million plus users 4 million monthly active we have sweat continue kind of innovating and progressing and kind of showing massive usages play Amber we have meteor we have sender we have lots and lots of applications growing on near really providing this functionality uh across the board now the on the other side near ecosystem you know has been growing and there's a lot of going on but it's always not going to be enough there's still lots and lots of interesting things happening across web 3 and this this actually for me personally have been a very challenging state where you're like oh should we try to pull the projects to near and should we try to convince them and kind of enters this uh effectively like zero s game or should we actually make it easy for everyone to work together right and so um kind of through few iterations right originally it was blockchain operating system we introduced chain abstraction really allowing to interconnect all of the applications on all of the chains together in a seamless experience there's a ton of work happening again Kendall we'll dive in into this we had uh chain obstruction incubator launching which is amazing project building on this St on the stack enabling kind of next uh level of innovation here finally this year we've introduced user own AI this is something that's very close to my heart uh I've mentioned this many times I've been thinking about AI since I was 10 I was trying to build you know first things when I was 14 I started working when I was 17 in a machine Learning Company because I was excited to do this and I went to work for Google research because I saw that there's an opportunity to do something with neural networks and we started neari originally because we saw the technology is evolving and you can do really interesting things uh back in 17 now the challenge that continued kind of across all of this thinking has been that to really build this you need to build a company you need to build a centralized place which will collect more and more data and create kind of bigger and bigger um kind of mode around it so you can make more money so you can invest more in research and development right this is how Google done it this is how open AI is doing it this is how uh kind of even Facebook is doing it even if they open source it and this actually is contrary to you know the redacted movements the web 3 and in general what we're trying to do right how do we bring this into the hands of the users enable the users themselves to benefit from this technology and uh always be kind of in control and so that's some kind of the user owned AI Movement we introduced and it's going to take a village it's going to take a massive amount of work across the ecosystem to make it happen so I kind of uh introduced a stack that we need to build this is mimicking what's happening inside centralized companies and really building this kind of in open as an ecosystem where you have a whole host of data and storage uh kind of providers everything from you know indexing new data crowd sourcing uh monetizing various data stream private in private computation of uh data as well as decentralized data storage you have a infrastructure and model layer where you have everything from training to inference to uh training specialized foundational models to agent Frameworks and kind of agent payment layer and obviously have applications which actually benefiting from this in uh providing this benefit to the user so we've been having a massive growth with this ecosystem this year there's also obviously accelerator with Horizon with deli with better works we have communities across San Francisco and uh globally and so this been kind of booming ecosystem of projects really pushing together what is possible and how we bring this user own AI forward now I want to showcase kind of how this things already coming together this is example of bitte wallet which allows you to effectively talk to different agents which can create transactions and interact on your behalf with a wallet and with other chains right so chain abstraction Ai and scalable blockchain all coming together into one really enabling this unique experience right for example interacting through safe on other chains on uh on ethereum you can you know stake on NE you can uh use potl through the natural language interface and it's extensible platform where people can build more agents and integrate them into this and if you want to learn more Nate is going to be talking and kind of showcasing how this works so I mentioned user own AI chain abstraction sharded blockchain so user own AI chain abstraction blockchain well these are not three different things this is one near protocol that really enables this unique experience where you're interacting with uh computer in is changing to be uh powered by AI you have chain obstruction that effectively removes this boundaries between chains and between interactions uh and assets you're doing and you have blockchain that can scale and power all of this in a robust way now changing gears a little bit why kind of the current world is not just kind of fundamentally broken because of incentives but also product is not where it is right where we wanted to be first of all you know if you're looking for like doing some Commerce looking for some product or for some service you have you know Google results which are uh effectively spammed with ads right this is their business model they effectively selling your attention to the highest bidder and allowing you uh kind of to guide you there and you go to some random website you need to go through a lot of clicks you need to sign up now you don't know who did you give your data uh you you know you then enter your credit card you hope it's actually you know uh safe place to enter a credit card and then you have to monitor email updates hopefully they deliver uh there's like unclear process of how to make sure this works now ai introduced a new level right we can now effectively interact with Computing in a natural way we can talk to it and the challenge is it lacks action right it can give you information but you know trying to buy a road bike it gave me some options I can maybe ask it to refine the search but I still need to go and use Google for example to find actually where to buy it finally blockchain has built the most efficient speculating engine right I mean what we've seen with poly Market is amazing because it's effectively a global speculation on elections which was extremely effective now the challenge is it is limited how much you can speculate in completely digital world if you don't connect this real economy if you don't collect this real value ad services and products for mainstream consumers and so far the blockchains have been focused on effectively this zero sound game as I said where they're trying to battle for user for existing users and developers targeting them from different one chain to another kind of trying to rotate them uh and with throwing massive incentives right so we don't have this like how do we actually get out in the real world and bring real world to the blockchain so as in blockchain for AI we trying to power this user on internet right we're powering this kind of movement where you own your data assets and Power of Choice and so to do that we believe we need to change the Paradigm again the current Paradigm is you're using search engine which is using advertisement you're using payment processors that you know uh taking its own card you have effectively like a whole marketing Machinery behind the scene that is uh trying to Target you and find kind of rewrite what you're actually looking for to uh to Target you to a specific product you have obviously kind of algorithms in Tik Tok and Instagram and acts which are benefit like that are optimized for making money for those companies not how benefit you how to get your wellbeing so the new paradigm is where AI is your interface with Internet it's your AI assistant that is able to understand what you want understand uh kind of unique needs as well as plan longterm how to you know grow your uh networks how to benefit your overall well-being and now this interface is able to directly connect with products and services around the world and on blockchain to actually have this direct relationship and find the best product right AI assistant doesn't care to look at you know the first few links in a Google search it will look through you know T of thousands of options and find the best one for you and so this is kind of the new paradigm and in this Paradigm you still need a middleware right you need still a connectivity tissue that will connect youru AI on the front end with Services AI agent smart contracts on the back hand to really power this economy and that's what near is doing now we're introducing a new concept and this concept is intense this is a new type of a transaction that allowing effectively anyone to uh come into agreement with other parties to exchange assets Goods services and it comes with a lot of different functions so again let's think back what is missing from a blockchain right now we have transactions you can you know pay someone in around the world for a fraction of a scent but we don't have real Commerce we don't have real Services because there's terms of service there is regulations there is uh you know Services sometimes don't get delivered and you need or Goods get lost you need a way to ensure it and you need a way to make sure uh to have some Serv service provider to respond to you and so all of this is now comes in into a new model where in the intent itself you can attach effectively your information you can sign the terms of service you can have a dispute resolution which includes uh insurance which includes uh even potentially a contract effectively that will be uh used in court and importantly this works between users the AI assistants other AI agents and regular services like everything from a restaurant to a bank can be running this uh on this model and be able to provide services to to the global World finally this abstracts all of the kind of different technologies that we've been building around change tokens agents contracts and really provides a single interface that is extremely easy to use and we'll you'll see more how this works uh right now from alexenko now to just give you a little bit of taste what does this look like right youri assistant you know as you wake up in the morning morning it already predicts what you're going to do what you want and it in the morning reaches out to the you know newspaper and fetches effectively uh a set of headlines and their costs right now your agent decides that um you will want to read summary of the first three and it pays a little bit with a micro payment uh to the newspaper to receive them it then summarizes it and gives you recommendations uh in your UI now you wake up you click uh you know you scroll through the feed again this feed is prioritized for you to really kind of benefit your like information based on what you want to know based on what you're interested in now you actually want to read one of the Articles beyond the summary and so you open it and now your AI goes and requests the full article and in this case uh it's actually worse getting the uh not not paying for it but actually getting the ad right and so now using the trusted uh execution environment on the phone uh there's actually attestation that you have watched the ad as part of reading the article that is being paid effectively to the newspaper that it can cash out from the advertisement right so this is all effectively this intent flow that allows to exchange attestations and information and settle all of this on chain uh as as the transaction concludes and another example this is something uh kind of close to my heart when the war broke out in in Ukraine uh we have started a effectively crypto donation fund that was Distributing funds and doing a lot of different efforts and it was hundreds of volunteers effectively working like 20 hours a day to really coordinate collect information you know help with fundraising and so you can imagine actually talking with your assistant saying hey I need to start like I want to start such an effort and it actually helps by starting a number of other agents that are actually running in the background and executing different tasks so you can have a fundraising agent right that actually reaches out and directly to people explains to them the situation and how the efforts of this Dow specifically will be uh executed it has another agent that is actually receiving information and requests from uh people in need and processes them evaluates their as well attestations for example their location their kyc uh in Ukraine there's a bank ID for that and uh based on that distribute small amounts of money as well as it realizes there's requests from people uh that require actually shipping products that are not available in Ukraine and so it goes and procures them in Germany and Poland this is actually what we were doing sends them to the border and then volunteers actually drive it through Ukraine so this was coordinated by hundreds of people but you can imagine a set of Agents actually working on behalf and you know there's still people will be involved in uh validating some of the decisions but a lot of this work actually can be uh effectively automated through this model finally you know running a startup one of the most painful things is uh filing taxes and finding uh the best provider so you can imagine youru assistant actually reaching out to Discovery agent in this case which gives you different options for what you're asking for and from this options you know you can select it can give you more context and it sends all of the accounting information to that agent specifically now Alex skidanov will talk more how we're doing privacy and how the agents uh can run in a specific and um trusted execution environments to enable that but what this means is even the developer of this agent is not actually receiving your accounting information it always stays private and secure and you're just getting back the filing and you can you know maybe check with other agents as well to recheck this information so all of this is the vision but it's actually not that far uh today we're going to uh open up a near AI assistant it's available in chat. near it is an alpha it is still uh you know will continue iterating but we wanted to open it up we wanted to make it open source and we wanted to open for people to uh start developing the model and kind of the way it works is youri assistant is effectively able to call other agents kind of other functionality and through that you can continue permissionless expand what the AI assistant can do so let me give you a quick example right so this is your AI assistant chat near Ai and uh first of all it has local memory about every User it's able to associate it with a new account so it's able to actually remember things as you're talk to it and use that memory in different things it is a generic kind of you know uh chat assistant so it can answer you know questions like what where's what is Bangkok famous for in in normal way but importantly it also can do actions uh very similar to uh what I show this B uh for example you can create a meme coin about frogs at a party and it will go and generate not just an action but actually generate a whole web page uh that you can uh deploy to a website right so this is fully generated byi and obviously you can edit it if you want it can uh you know create the image and it actually can go and deploy it to the uh meme launch platform that we have meme cooking right so this is uh fully done by an AI agent uh that is specifically designed for launching uh meme coins and you can call it from youri assistant it detects kind of your intent to be uh creating a mem coin and routes it to this uh agent so it takes a little bit of time to show up uh on on the mem cing platform now you can always go and you know um like say something like hey make a mcoin was my favorite color because it actually remembers you know what is your favorite color again uh shared memory across all of the agents and I think we should see it now yeah so it showed up so you can try this now yourself on chat. near log in with your near account you know create a mem coin let's you know let's make a few hundred meme coins right now now the other example I mentioned this is not just for web 3 so this is example you want to do something with web 2 with proper Commerce so for example you want to buy a near t-shirt right so you go shop what is that's actually generates a uui on a fly because it knows you want a not just an inter you know a text interface but actually a rich UI where you can you know look through different options you want to select different sizes and you're uh and you want to effectively provide an address what this does underneath again it works with a shopper agent that uh receives your information sends it to the uh service that will be delivering you uh t-shirt as well as helps you create a transaction to actually pay for it so this is example where it actually shows you that it calls The Shopper agent uh kind of the first time you can allow it always do this and it says hey it going to execute a transaction on your behalf uh do you want to do this and so this is kind of executing the payment and all of that as all of this is done it actually ships that to uh order to the uh service that actually provides uh shipping uh for the t-shirts so this is an example again of web 2 and web 3 working together from one AI interface it's not just text it's Rich interface that allows to have kind of reach interactions and it's able to generate them on a fly for specific use cases and you can kind of customize it for yourself and it's able to remember how it works there's a lot more work to be done and again this is an open platform anybody can come in contribute uh and you have a GitHub near AI uh to uh to contribute to the platform as well so I will pass it now to Alex kdov the co-founder of near as well as co-founder of neari who has been working on the research side that actually going to be powering the future of this technology how you guys doing okay let's talk about uh artificial intelligence um if you if you look back at the history of Technology uh if you look at what's been happening with u search Social Mobile it always Begins by something new and exciting uh something that changes Our Lives to the better and then one or two companies fully capture uh the whole you know attention whole value from the uh from the new market and then you know a decade later that market is entirely you know used to capture every little every single dollar of our um of value without producing value for users anymore right so with search if you go to Google today it's almost impossible to find anything with social it's all optimized for your attention so that you spend you know more and more time on in there and artificial intelligence is in a very similar space right now in a very similar moment in history where we are still at the moment where we're very excited about something new but we already can see that you know one two maybe three companies are fully capturing value uh and that will create a uh a data wheel uh that will effectively make it less uh more and more hard for uh for others to get throw them in the future uh and as long as you know if you like me believe that AI will be a very big part of our interactions with the internet with the world uh with the practically everything in the future that means no user owned internet uh no user Centric future is possible as long as large language models are controlled by large corporations and if you look at those AR operations they have like like if you think of open AI entropic Google Facebook they have data experiments compute the best researchers all in the same place are all very nice centrally orchestrated right so that allows them to iterate very quickly while outside of them if we wanted to replicate it in a decentralized fashion first of all we don't have access to uh resources that are of the same quality today uh second of all even the resources that exist they all spread out right so a person who tries to to um to push it Forward they have they spend a lot of time you know looking around finding things that they need and we want near near is in a sort of unique position to try and go ahead and solve it because uh relative to web two companies right such as you know like any any web two companies company that would try to to Dethrone I know hypothetical open AI we have years of experience of pulling resources together of orchestrating a large sets of people in a decentralized fashion something that is absolutely important possible in web 2 um uh uh you know sending microp payments annotating data Etc while relative to web three companies near is in unique position because near internally has a lot of experience building artificial intelligence uh one and only of my co-founders is literally the creator of Transformers so it's a uh you know nobody in the world is positioned better than near to make this change and so correspondingly it is effectively our responsibility to drive this uh this Innovation forward and effectively the way we want to do it the way we're doing it today is we want near to be a uh central decentralized place uh for all the things related to AI so that all the data sources all the models all the experiments are are discoverable uh agents so that you have access to compute you have access to data annotations in one place uh and yet each of those is coming from various ecosystem projects from different uh decentralized entities right and none of that you know nobody disappearing tomorrow because they ran out of money or turned out to be you know malicious from day one affect in any way uh the whole effort so before I get into uh the fun part let's address the most important part of uh decentralized di that decentralized di one way or another needs to be private when you interact with chat GPT you know that your data goes to open AI but at least you can assume that you know um that open AI has at least some effort to protect the data it's it's a bad place to be in but it's not as bad as if you were using some decentralized a servers where you know some random person is running a machine with a 8100s and your data just goes to them and they sell it to the lowest bidder highest bidder uh and uh interestingly private AI is possible uh and the the way it is possible is all the modern CPUs and gpus allow uh a technology called trusted execution environment something IIA mentioned during his talk uh which effectively says that if someone let's say me has a computer and I'm a malicious actor you should never trust me uh and you have some computation you want to do but you don't have access to compute you can send it to me and I can execute it in a trusted execution environment and you will be absolutely certain that I had no idea what was happening on my computer uh I could not see your data I could not see uh the code you're executing uh all I know that something was executed on my machine right and so that allows you to build all sort of interesting use cases that allows you to do private inference meaning that I could be running a model on my machine and you could come to me run inference on my machine I will not see your data I will not you what you were doing with the in there right you can you can send any medical records any private data and you will have 100% confidence that uh that was not in any way seen by me uh it allows you to run agents in like an agent provider says this is my agent it's open source it's you know it's beautiful it does everything you want uh here is the end point there is no way for me without trust at execution environments to know that the end point I'm hitting is actually the agent that they see on GitHub the trust at execution environment I can do that that allows you to to have a network of Agents running uh in a on a decentralized network where you know for every agent that it is doing exactly what is promised you can use any secrets private Keys everything uh and be certain at every point that the system behaves exactly the way you want and uh none of your data is is going to any malicious or any other actors uh but the most exciting uh the most exciting thing that trusted execution environments unlock is that they allow us to create Frontier open source Lang large language models which are monetizable right so today if you think about Frontier AI you know like uh the the the models like you know Lama 405b or gp4 or you know GPT 5 is probably around the corner they are massive training such a model requires hundreds of millions of dollars and there are very few entities who can afford spending hundreds of millions of dollars to create such a model and then just drop the weights and say hey guys use it uh it's all yours right and uh you know if if the entirety if the whole future of Open Source AI is fully in the hands of meta it's a very Bleak future we have and with tees what you can do is you can pull together resources from people uh you can train a model entirely inside of the tees using open source code uh open source data pipelines uh and then get the model that is open source meaning that the source is open but not open weights meaning that the weights are not seen by anyone uh and yet anyone can pull the the uh the encrypted weights to the air machine and run it inside the KE but the KE would only serve the model to you uh if you establish a payment Channel and pay for the usage right and the and the price of the usage could be extremely competitive right so it could be competitive with any inference providers that exist today but you know that the model once it is trained will be monetizable every usage of the model will be paid for and therefore you can actually pull together those hundreds of millions of dollars and have those people have a reasonable way to expect to repay their their uh contribution uh from the usage of the model so that is extremely exciting because that technology actually gives us you know gives us a path towards the future in which the frontier models are created by the community for the community and served in a decentralized fashion um without without sacrificing economical viability so that is probably the most exciting uh area uh that we are exploring right now this is uh effectively the way this is a little diagram which highlights what I was just describing right Bob who you can clearly see is not a good uh good guy uh has a machine uh and the Machine is fully controlled by Bob right so like he can he can open it up he can use a microscope to like inspect every little transistor in the processor uh but there's a trusted execution environment within his machine and everything that happens to the trusted execution environment L is can trusted but most importantly the protocol as a whole can trusted right so the protocol as a whole can know that the model once deployed to any of the machines with the te will not be used without uh proper payment back to the uh to the to the Dow that initially created it so it's a yeah and payment channels obviously something that we know works very well uh there's there's a way to to build this technology s such that payment channels are open between the trusted execution environment and the and the user so it's a it's an exciting exciting technology and exciting Way Forward for user owned AI the only problem is it's not enough to train a very large language model ideally you want to train a a large language model that is good right so so for example if you think of if you think about lama 405b lama 405b in terms of size is comparable to gp4 uh or CLA 3.5 uh but in no way is L 405b competitive with those two models right so even Facebook with all its resources cannot train a model that is competitive with an open AI model so how could we without having access to researchers that Facebook has today train a model that will be competitive because if the model is not competitive you cannot monetize it people will not use it right the way we approach it uh is we we start uh a series of competitions where we're just going to bring all the researchers who today uh don't work for open AI right there are students uh all over the world who are um getting into AI today a lot of them are extremely talented and extremely knowledgeable who do not have a way uh to get access to compute to get access to uh to good data to get access to other resources uh and we will provide access to those researchers and a way for them to compete and show you know that they are the best and they can contribute to the best model in existence and you can think of it of course we cannot have a competition you know we cannot train a one trillion parameter model in in such a way because you know even training one of them cost hundreds of millions of dollars but you can try train a small model and you can begin with like a half a billion parameter model which is small and then you can have thousands of researchers simultaneously competing for training the best half a billion parameter model and then you take the best of them those of those who who show that they are promising and and can do exciting things and all of them go to the next step and now we train the best two billion parameter model right and then the best of those Advance further and at each step you have fewer people but those are the best people and uh but you need more compute you know fewer people more compute it's the same amount of resources you need to spend until you get the very best uh you know 10 to 20 people working on the very large language mod that will be competing with the gp4s and cloes of the world and that's uh that's a that's an exciting way to to enable first of all to enable people who are very talented but don't have a way uh to um to work for those uh large companies either because of uh uh their you know because of lack of opportunity or because of their values right not every person wants to contribute to the evil Corp uh you know to get more and more of of user of user data and user attention so for many of them that will be the way uh to apply their talent to show what they can do to contribute to open source AI uh and to get rewarded for that cool uh so that the first competition is starting effectively now that will be a competition to train a very small half a billion parameter model so let's together train the uh the small one and then uh we have a plan uh we will publish it very soon uh effectively you know in a in like uh six seven steps we will get to uh to very large numbers which are way more than half a billion you know 400 billion for trillion Etc so every everything I was talking about today uh a lot of it is uh live at app. it's a hub for all things AI data sets models compute uh it's a place where the competitions uh will be hosted uh so the you know the future of decentralized AI has never been brighter uh so yeah let's build the future together um hello everybody uh I'm going to talk about intents for agent cooperation and in order to start I want to share with you one quote of a person that really changed all of our Lives Albert Einstein so he said that there will be trillions of AI agents and maybe one of them could win the next us elections against Elon Musk and obviously this is a joke because Einstein knew that Elon Musk was not born in us so he cannot run for presidency right but in every joke there is a grain of truth and the grain of Truth here is that there will be trillions of eii Agents just count it by yourself there are billions of people uh there are hundreds of millions of Corporations and they have at least you know 10 to 100 Services inside of all of these corporations we are going to hit this number this is the decentralization of the AI agen that we are going to face and the question is how they are able to cooperate and there are multiple stages of the cooperation for the AI agents that in place they need to discover each other they need to figure out that some a agents are specialized in ordering a coffee and others are specialized in closing your banking account they need to figure out how to settle in between them and uh this means that they need to figure out how to pay how they can be accountable for what they are uh promising to each other payment channels is another interesting thing so everybody have heard multiple years ago about uh microtransactions and stuff like that it was never picked up with the uh with people just because people for people it's not very convenient to use microtransactions but for AI agents as long as they have the access to compute well they can microtrans with each other and the most convenient way how to do this is through the payment chck channels and in the end obviously in case something is not working we probably all have seen how large language models are not given to us what we expect them to give to us there needs to be a dispute resolution mechanisms it can be automatic onchain or it can be outside of the chain with you know experts coming in and figuring out how to settle now the thing that we are bringing today is that all of these things are going to be available as a core part of the near protocol and this is our vision for the future of the infrastructure for AI agents cooperations now a little bit into this Vision the decentralized message bus that is going to work in parallel with the near blockchain itself is going to power the communication and discovery of the AI agents um as Elia said we're going to introduce a new type of a action in the near protocol specifically for recording and settlement of the commitments and the third thing is that we're going to open up as we're going to create a new standard for payment channels that are going to settle on top of the blockchain and U Already many people have been talking a little bit about the payment channel so just want to throw in something into you so you understand it a little bit more so the payment channel is a construct that allows you allows to a agents to create a channel as a transaction on the network or on the blockchain so this is like an opening transaction and then they can send money to each other uh many different times or many times and then only settle on blockchain with another closing of the payment General transaction right so that's the thing that is going to be introduced and obviously you're going to say to me yeah yeah the vision for the future infrastructure yeah very interesting Alex as always uh but this is not the thing this is the piece that I'm delivering to you on the vision side uh but if you know me I always try to ship something and give something into your hands so you can try it right here right now and the first use case for the intent uh for intense on new protocol is something that you are able to use right here right now now and this is a multi-chain DEX so kind of not very funny right but actually it is fun I will encourage you to to check it out but before we're going to take a look at the demo I would like to pay your attention to four abstractions that are introduced in this product first one is obviously chain abstraction the tokens the chains that these decks is integrated uh it's not only a single chain right near Bitcoin ethereum arbitrum and base are integrated right now and more chains to come we do have a wallet abstraction in this solution so that it doesn't matter with which wallet you're going to sign in currently we support near wallets all of the near wallets that support message signin and also ethereum wallets including metamask coinbase wallet wallet connect wallets and all this all of the stuff is there the third thing is a token abstraction everybody are tired of usdc on base usdc on ethereum there is only one usdc in the platform there is only one usdt on the platform there is only one e so it feels like a centralized exchange and the last and the most important is that there is a contract abstraction users are not calling any contracts users are not U signing transactions that they don't understand there is no blind sign in that is happening there that causes lots of problems especially in cases when the supply chain of the front end is compromised so let's see it in action you are going to app. near intense org and you're able to connect to it with metamask directly by the way everything that works works here is going on the near protocol right so I'm choosing the deposit token and this is tether from the ethereum blockchain I'm copying the deposit address going to my metamask and I'm just sending tether to this address exactly the same way how you have been sending um tokens to your centralized exchanges uh of the choice the deposit is received and now you're able to do the swaping swaps are are happening in between usdt and usdc please know that there is no particular chains that are connected with it and you're able to withdraw usdc in this case in base you put in your wallet address and you sign a message you're not signing a transaction this is just a message that you have signed and it's settled on near protocol and if you will check it out there is this usdc available on your on your account with the rest of usdt we're going to do something that is even more crazy we're going to swap it into Bitcoin directly you're again going to sign a message for doing the Swap and you're going to withdraw this Bitcoin into the Bitcoin blockchain by again signing a message and and just like that Satoshi got approximately $50 um uh worth of bitcoin into his account um what you have just seen is a reference implementation for the intent protocol it is not intended to be the place where you can go though you can do it right here right now but this is something that we see that is going to be incorporated in all of the wallets in all of the front ends that have users um uh this is not kind a final product but instead this is a platform that everyone is able to use in order to give this uh solution uh to the users now there are more things that are going to uh to be developed within the near intent par Paradigm uh obviously the first things that we're going to focus on is adding offchain services and AI agents for this um so a little bit of a different types of intents rather than just swapping one token into another right there will be new chain that are added and these lines uh these lays inside of the direction of the chain abstraction so the first chains that are going to be added and we're targeting for ton and salana to be added by the end of the year uh and even more chains are going to be added because of the unique uh position of the chain abstraction narrative in near protocol we are able to do everything that you have seen with the chains that do not have any smart contracts and to my best knowledge the uh this type of swapping in a permissionless manner is the first in the industry um we are going to integrate all of this with applications and uh market makers and solvers um uh right away again we are not keeping this inside but instead this is an open platform this is an open protocol for everyone so uh if you would like to see this on your website just uh get in touch with me and we'll figure out how to do this we're going to help you to integrate all of this this solution just on in the realm of um aii uh we are going to add additional pieces of this financial infrastructure into this this platform including account F or the ability to um trade accounts lend accounts to other people uh we are going to introduce a shared liquidity pool against which the market makers will be able to borrow which is going to make the swaps even more efficient uh Ling is going to be introduced and more and more of the other Primitives uh as I said already a couple of times the platform is open and anyone is able to introduce their own types of intents that they would like to be available for everybody and for the front ends to use and uh lastly all of this is working as smart contracts on near right now but as I was saying we would like to integrate it deeper in the protocol level to make it even more efficient and as a standard for everybody intense powered the future of near as the blockchain for AI and I'm super excited that we are building this thing all together with all of the community you able to access it right here right now with your near or metamask wallets you can forget already today about using your centralized exchange for swap open this usdt into Bitcoin instead you can do it directly on the near protocol in a decentralized manner go and check out near in.org so what's really really fun about working in near right now is that uh everything we're building here is not just for near anymore it's actually for every single chain and as Ilia pointed out it's actually goes even Beyond web3 in general and we're going to be able to connect to really anything on the internet and hopefully actually change a bit about how the internet Works uh but today we'll focus on you know what we're going to be able to bring to all these different chains that are out there and why we're super excited about it uh you know and I think when it comes to really making AI agents work in crypto and solving a lot of the problems that we currently have uh what's going to be really required is that each AI agent has unfettered access to the entirety of the crypto space this includes every single crypto asset this includes every single smart contract and really every single piece of State uh this is part of the reason that we've been so focused on this concept of chain abstraction it really is to make it so that developers and users are able to interact with every piece of state every asset everything on every single chain as seamlessly as possible the way that we're making this work is using the near abstraction stack so Alex uh just introduced a really important part of that stack which is the intent layer uh we also have two other really key pieces of Technology one is chain signatures and the other is the Omni Bridge so to give you an example of how this can kind of work you can imagine that a user first uh creates an intent basically submits a request to this intent and solver Network once the the auction is kind of decided once like u a solver is sort of chosen uh either by the user or or through a programmatic way that fulfilled request will then turn into a signed payload that can be relayed to a destination chain uh and that's using chain signatures and then once that's complete let's say that that there was a Bitcoin transaction that landed uh often times there's going to need to be a settlement process that happens on the near side and this is where near as a blockchain will need to have access to that finalized State transition on the Bitcoin blockchain and this is going to be using the Omni Bridge which is effectively a wrapper over some different message passing layers or even light clients depending on the chain that will let the near uh smart contract know that that state transition on a destination chain has finally landed so the most important takeaway from uh the piece of technology that I'll Focus the most on today which is signatures is that we now have enabled smart contracts to sign transactions and this is a really really interesting design space that we're seeing a lot of teams start to take advantage of so here's a little bit about how it works so you can imagine on the one side we've got this near account that's on the near blockchain that will be originating some type of signature request so it'll call right now this signer contract on the near blockchain with a payload a cryptographic payload to be signed and then basically the address that it wants to use to sign that transaction then the real magic we have here is this network of uh multi-party computation notes you can basically imagine these as uh a large group of distributed entities uh that have one part of like a key share that can be combined to sign for a private key that none of these individual parties know and the goal is to make this group as large as possible eventually hopefully resembling the makeup of the near validator set so this group will listen to requests that come in on that sign or contract and they will then take that request and sign it uh using deterministic derivation function they'll basically ensure that this near count is the only one who can originate and sign for this request they'll then return that signature on the near blockchain um which creates a perfect audit log of request and then response so you can verify that this was done correctly and then finally that transaction will be pass to a destination chain and this is how you enable near smart contracts to sign transactions for Bitcoin and Dogecoin and ton salana any chain that comes with any of the thousands of chains that apparently are going to be launching over the next few years you'll be able to use this technology right now we have about two dozen teams who are building across three major categories um the first one and one I find particularly exciting is Bitcoin in 2024 we've really seen I think a Resurgence of uh well a realization that Bitcoin is kind of the OG of crypto assets for a variety of reasons it's going to be extremely important to continue to utilize uh but to date it's actually been pretty difficult to build with Bitcoin in kind of a trust minimized way fortunately using chain signatures we're able to enable teams to tackle some really exciting use cases uh on the one side we've got Bitcoin lending it's surprisingly difficult if you have Bitcoin on the L1 to borrow against your Bitcoin Step One is usually some type of bridge that has quite a bit of latency we're going to be able to really remove this using chain signatures part two runes trading uh you've probably heard a lot about this as a primitive people are very excited about the ability to issue assets on bitcoin but to date that experience has been very limited when it comes to actually trading these assets because the the Bitcoin layer one itself is limited and then we of course have several other use cases here like reaking uh or building liquid stake tokens on top of these reaking platforms uh we have several teams who are tackling that challenge to give you a little bit of an example of what this can look like from an experience perspective uh this is actually a fork on test net of the largest lending protocol on near that's empower uh this Bitcoin experience so you can see here I've actually connected my Bitcoin account using uniset to this lending protocol and you can actually see like a test net Bitcoin balance right there uh I can then actually just decide to borrow against this Bitcoin balance uh after I've deposited into the protocol you see here I'm going to like Supply uh a little bit of Bitcoin uh and then this transaction request that pops up is actually for uh my from my uniset wallet uh because thanks to this chain signature technology we are able to let users bring their existing w wallet any Bitcoin wallet that they that they have their Bitcoin custodi in and then they're able to basically interact with this protocol just by signing a message uh using that wallet and this same pattern can be replicated across anything so Bitcoin users are able to be met where they are in their Bitcoin wallet but then get exposure to all of these different usage patterns and all these different uh new experiences the next category we have a lot of teams building in is uh I think particularly interesting because it really changes the way that you can reason about like how you're designing your protocol and what we mean by that is you no longer have to think in terms of of how you're going to deploy your protocol on one chain then you appy that same protocol on another chain and then think about how maybe those two different versions of your of your protocol interact with each other you can actually design your protocol uh to be completely agnostic to the eventual chains that your users will be interacting with to give some examples of of how teams are using this uh Alex already showed an example of the near intense layer which is basically making so that you can swap any asset between any chain we have a couple of other teams who are working on similar products like Omni Lane and thesis who's building a uh a margin based spot protocol that will actually allow users to deposit any asset and leverage against it um we have teams building lending protocols particularly targeting very popular but underutilized assets like an xrp uh or a Dogecoin or even a Bitcoin uh and eventually you will even be able to borrow against your entire portfolio of assets that might span across multiple chains and open opening up an entirely New Capital base uh and then we of course have teams building in like the the uh yield space the restak space that will allow you to restake any cryptographic asset across any chain to show a little bit about how this could work very similar to the example that uh Alex gave earlier this is a team called omn Lane uh who's built cross chain swaps that um will enable you to swap between any two assets on any chain uh you can see here I basically connected my metamask account and then I'm just going to go through and swap from the polygon test over to base uh and it works pretty similar to the to the uh the intense layer where you'll basically find a solver who will fulfill this for you and just a matter of seconds and this experience be replicable across a variety of chains and then last but not least we have account abstraction um we have a lot of very exciting teams building in this space particularly bits on like the kind of AI agent powered and user experience um we have one of the most used apps in crypto if you're familiar with the hot wallet which is built in telegram they've actually deployed 6 million account abstra or chain uh chain signatures powered wallets that can actually like custody assets across a variety of chains um and then we have teams like sweat who is one of the the largest kind of mass Market user apps and is now able to exp bring their 100 million user plus uh base uh across a variety of different uh of different blockchains and applications and then tomorrow you guys will be getting a very special announcement from uh a very exciting team who's who's building in this space as well um I think what's super exciting about like what bits has been able to do is that they can take a new design pattern like a pass key based wallet uh and they can let you create a unified balance across a variety of different chains so like you can see here um that I'm actually have some ethereum on a few different chains in my bits of wallet and I can actually go and I can just connect my bits of wallet to Unis swap or any other uh any other application that supports wallet connect and I can suddenly send transactions from that application so you can see here I'm actually like sending this this unisoft swap approving it on the bit side I'll actually sign using my uh Pass key on my Mac and then I've completed this transaction you can see I now swapped from some ethereum on base to uh to some usdc on a different chain um and of course you can do this through uh the AI agent uh platform as well so those are three of the areas we see a lot of teams building in I think uh a really cool direction that we're going to be able to go that's uniquely unlocked by this NPC technolog ology is actually building truly Unstoppable autonomous AI agents uh so we had Alex gnov mention earlier how you're going to be able to basically receive a uh verified request from an llm by using a trusted execution environment that's a really exciting primitive that lets you interact with uh an AI model and know that you were served from the AI model you're aiming to interact with uh but I think what's even more interesting is when you combine this with the key resiliency of the multi-party computation technology you can actually have these agents that'll just live as long as the network lives uh everyone's really excited about the idea of well effectively enabling like a Skynet uh but no one's really put together the pieces to actually Empower this today so like we see a lot of hype on you know Twitter right now about what w is going to be able to be unlocked with these Primitives uh and I'm excited that we're actually going to be able to deliver this TCH stack immediately so you can imagine that you basically have that AI agent that will be like have most of its sort of uh information and state either living on the near blockchain or a variety of decentralized Technologies a user will then be able to prompt this agent you'll see like a trusted execution environment where someone's running this model that'll basically return the response and then the proof of the response using the remote ad testation uh and then this this uh this response will be able to interact with a near smart contract to then sign something somewhere uh and because this smart contract will be using this distributed NPC technology what that means is that in order to take this agent offline you have to take down the entirety of the network which is going to be extremely difficult to do so this is how we can unlock these kind of truly perpetual and autonomous AI agents um which you know we're very excited to see how people build with this hey everyone um how are you guys doing yeah so you have heard a lot of very exciting uh new stuff from the uh previous amazing speakers and um I'm going to talk about something that's uh already existent but hopefully uh equally exciting uh this is how we build the most scalable blockchain so from the very beginning near star's vision of building fast cheap uh protocol that can scale to meet the needs of billions of users and now also AI agents and the primary way we achieve this is through blockchain charting uh so blockchain charting is basically this uh uh scaling approach that divide the global state of blockchain into sh States so that no validators in the network need to the state uh of all the shs and as a result the network can scale with the number of shards uh it has oh sorry so uh back in 2019 we came up with this uh nce design uh for completely shed blockchain and before that uh all the prior art on blockchain Shing pretty much uh is what we show on the left hand side uh which is that you have one bacon chain and for each Shard you have a sh chain and there is some Lex orchestration mechanism so that allows you to communicate between different shs um but it's actually very difficult to implement because uh when you have one blockchain per Shard then it can have its own Forks when you want to communicate between two shards you can you need to think about which Fork uh it's coming from and which Fork it lands on and what happens if it gets reworked uh all of those problems do have some solutions uh but it requires uh very complex Machinery to make it work uh and one of the key Innovations we did uh with nade is that we say well instead of having that complexity how about we just have one chain that rules them all uh so this one chain that has blocks that contains chunks which are shart blocks from each chart and this greatly simplifies the design and this is what we did um back in 2019 the first uh version of near white paper uh it's designed for complete shed blockchain and has uh this asynchronous execution environment uh if you want to communicate between uh to different sharts or doing cross contract call what happens is that uh it first gets executed on the source chart and a receipt would be be generated and sent to the destination shart uh and the security relies on uh fraud proofs and this is how you guarantee that uh no NOS need to track all the sh while still maintaining the security of the network now 5 years later we made a lot of progress on implementing the original nitrate Vision uh but over the past year or we did a major overhaul to the nitrate design by introducing stus validation uh and this is basically the foundation for the nitrate 2.0 that uh we introduced uh this year uh the reason for introducing St validation is threefold so one uh is because uh in practice it's actually very difficult uh to implement fraud proofs and to test them make sure that they're uh bug free and there is a very good reason why in the optimistic rollup world people are still still struggling with deploying them uh into production uh and two is that it actually significantly improved the single Shar performance uh this is because before uh the biggest botle neck we have on single Shar performance was State access and the reason why that was problem was mostly because you have to do a lot of disc reads and that really slow sinks down uh so with this design we actually make sure that the state is entirely held in memory uh we achieve this uh by having this twofold approach where on the chunk producer side because it can we only need a few of them they can run more expensive hardware and as result they can hold the state um of an entire shard in memory uh and produce uh chunks execute chunks um by having the state uh in memory and then on the Val side because um they receive state witness they don't actually keep any state locally uh it's naturally the case that the state is held in memory when they execute the chunks uh and as a result because uh uh the validators don't need to hold any State uh locally uh they don't need to run as expensive Hardware uh in fact they can run pretty cheap hardware and this uh give rise to better decentralization meaning that we can run uh we can have a lot more validators on the network and this is not just something that uh we designed and put into some kind of white paper uh actually over the past year also uh the team worked very hard on implementing this and we launched in August 202 4 this is the biggest upgrade uh we did to mainnet since uh the original launch in October 2020 in terms of lines of code probably like over 100,000 lines of code changed uh this huge upgrade was done completely life uh and with zero downtime so as a user as user you probably didn't even know that this upgrade happened and and it has to rely on us like telling the story that this thing actually happened to know that well this the main that has been uh success successfully upgraded to this whole new version and now main that is uh fully shed both state and transaction processing are shed uh meaning that no validators need to track the state of more than one Shard and today we have six shards on Main net so that's a pretty good state to be in uh but in in my opinion that's uh just the beginning of a whole new era where we want to explore the limit of scalability uh we truly don't know today where the limit lies uh because in series The maget can scale with the number of shards and not only that we actually also want to build this interesting feature called Dynamic rearing where the number of shards on the network would dynamically adjust based on transaction load what that means more concretely is that if you have one Shard that becomes congested uh let's say there's like popular app launching there uh then the system detect that and uh knows that it should split that chart into two charts and conversely if have two sharts that are both idle or low usage then it would merge them back into one so let's imagine um in in the Sprite future where we have 100 sharts and each of each shart can do 10,000 transactions per second and that would result in 1 million transactions per second which is 86 billion transactions per day it's it's a huge number and we do need that uh if if we think about the the bright future that uh you know Ilia Alex and other speakers have uh talked about where we have billions of users and agents or maybe even trillions transacting uh settling tents um and payment channels this requires on Parallel scalability that only near can offer through this shed approach and it's it's not enough to just have that uh 1 million transaction per second or 86 billion transactions per day uh you cannot settle all the billions of intents per day inside one single smart contract uh that just would be too much for one single smart contract which lives in one Shard to handle so what we need is actually shed smart contract which allows us to fully Leverage The Power of near sharting that so so that instead of it existing on one shard it simultaneously exists on all shards of near so that basically no matter how many shards near has the smart contract would would be living on that many shards this is possible by making the smart contract code Global meaning that Every Single Shard has access to the smart contract code and the state is actually stored under user account rather than today stored under the contract account which then you know have to live in one Shard and this means that it can fully leverage uh nearest sharding approach and and uh be much faster and also much more scalable um and you know allow for this non-blocking peer-to-peer or multi-party settlement uh which is key to this future we'll have like tons of Agents transacting with each other so that's great I talked a lot about how near scalable how we can make it more scalable uh but we also wanted to make it even faster than today so today it's pretty decent the block time is uh is about 1 second and time to finality is about two 2 to 3 seconds uh but to make a truly simless experience for the users we want to do better and one of the primary ways we want to do this is through the separation of consensus and execution uh that may sound very abstract so what that means is that today uh one of the problem we have is that when you need to execute something you first need to to wait for the consensus to uh to create a block and then you know what to execute uh that's a problem because um means that you cannot the noes are not constantly executing transactions or receipts it has to wait uh rather what we want to do is we want to have consensus wrong as fast as possible just ERS transactions and then separately the executions try to catch up uh this means that a node would be constantly executing transactions because it know what to execute it's already there uh waiting for it to execute uh this would allow for uh for much better throughput but also would support long running transactions because now you don't need to have a state rout update every single block and uh because blogs are produced uh much more frequently uh if you have this RPC nodes uh just eagerly execute them as they get produced you also get optimistic confirmation that's much faster than what we have today and that is enough for most people and then separately we still have the finality guarantees that we have today so that's also not the end of it so if you actually think about it in a more uh concrete way like what what what this kind of thing actually enables so uh on the bottom can see what we have today so let's say you have some transaction uh that missed the the block production let's say got got in like 1 M second after the blocks produced then it's kind of suboptimal because you have to wait for one full second until the next block get produced rather if if we have this separation of consensus and execution the consensus just constantly runs you can produce blocks much faster and let's say blocks are produce every 200 milliseconds then even if you miss the block production you know that you will get in 200 Mill second later which is you know 5x better than what we have today and what's more interesting is that it allows for this uh long running transactions that doesn't fit in the in the limit of one block so that is not possible today because we we we need to make sure that consensus can continue producing blocks and not get interrupted uh so that there is a gas limit that essentially limits how much time uh each blog can spend on execution um and in in this new word because you don't actually need to have the state rot update going into the consensus for the next block you can actually wait uh longer than one block or even two blocks uh to wait for some some transaction to finish and this is very interesting because it it enables use cases that not possible today for example we have um we have this we have Aurora running evm interpreter as a smart contract and Alex has come to me at least a 100 times saying that hey like how can we make sure that one transaction can fit more gas into it so that we can we can we can be fully compatible with ethereum executing 30 million evm gas in onee transactions so this is basically the solution to that and on top of that you still the use cases we support today let's say ref swaps that takes 5 milliseconds that's also uh readily available and also much faster uh so this combined with uh what we already have with with nit 2.0 this leads to a very bright future where not only near is hypers scalable uh but also extremely fast and a very versatile you can build all kinds of different applications whether it's decentralized exchange that are some swaps it's very fast to execute or some long running computation that takes seconds to execute first of all I think it's really exciting because uh this is also I come to Bow as well very frequently where like we need to make blockchain faster and indeed we are getting to really good throughput we can put a lot probably most of the applications in web 3 if not all application web 3 on near and we're still going to have ton more capacity but now we can actually run with the speed of internet where the latency indeed you know every 100 milliseconds are failed by users so we can actually accelerate that so really exciting so we have the sharted blockchain we which is you know is scalable it is reliable and it's getting faster and faster we have chain abstraction uh as Kendall talks through it that enables using all of this um kind of different web three Technologies been built around internet as well as enabling really interesting things on near itself we have intents as a new primitive that allowing us to effectively coordinate different actors agents Services market makers participants on the global internet in a very kind of interesting new ways and uh and creat as new amazing experiences as he showed and we have user on AI with AI assistant and the research that going to advance what's possible with web 3 so all of these are really powering this future that we envisioning all of them are effectiv enabling how we see that AI will be driving forward how we interacting with internet how we interacting with uh Computing how we interacting with each other and all of them are effectively core components of this Vision right again you can think of them effectively uh as front and back end it gets a little bit mixed with chain abstraction as kind of Kendall was talking about you know it can both work on the wallet side enabling new experiences and on the backend side enabling you to Marshal assets and um kind of interconnect uh applications similarly for intents it can work between effectively any of chain agents uh be that in the UI or on a back end now the kind of what we going after right I think one of the interesting things in web 3 we always you know competing with other blockchains and the reality is that's not the competition the competition is the current status it's the internet where the ads are effectively dominating and the attention is driven to Mon and monetized every interaction every click you know there's ton of AD framework and ecosystem that's working to effectively drive you to some decision that is not yours and so that's really what we're replacing right this is the new type of Commerce powered by AI this is user own internet that is on your side this is replacing effectively the whole kind of digital ads and uh marketing spent on those ads that is you know over $400 billion in a year in the budget it's all the payment processor fees and all the aggregator commissions right which are now disaggregated because your AI can actually evaluate all the options in a neutral way without needing to have a mediator and a third party a middleman to do this and finally all the financial services right as you saw what we can do now uh was intense this also can work with Fiat this can work with you know stocks it can work with any asset uh in the world so that's a future where we're going right this is trillion o over trillion dollars of business value a year that we going to be capturing through building the system with all of the applications and kind of AI assistance in the ecosystem as well as result of services and smart contracts and applications been built in the in the ecosystem so few key takeways right so near is the blockchain for AI uh go check out near AI assistant again it's Alpha so uh doic works but you know you can try launching mem coins not Financial advice you can uh there's also like more and more agents going to be added uh to actually enable more and more functionality if you're a researcher or interested in kind of building agents as well uh go to ab. for research Hub uh there's a lot kind of more and more resources being added there and finally uh exploring your intents both you know how it works right now as well how you can integrate it into your application enabling new experiences or become part of the network effectively providing Services uh into this so I'll just finish on this thought that New York has never been kind of a you know traditional blockchain with uh lots of promise and lots of marketing and uh you know slow delivery uh we always focused on like delivering really interesting stuff and uh trying to figure out how to Market it and how to explain it the the story of you know iterating on open VB and kind of all all of the ideas how we kind of position this has always been a uh our story of we we seiz the vision but uh we we learning how to communicate and so what we doing here is really going after that Vision that we kind of always had since 2018 2019 to really reenable the internet and be that kind of infrastructure that really interconnects what's possible and removes uh middleman removes the kind of uh atory economy that's been built right now on internet and so I'm really excited there's a lot more talks and a lot of uh kind of um folks building the ecosystem already uh in this Primitives uh as well as you know New Primitives for for the ecosystem there's applications talking about how kind of amazing experience they can provide so I hope you enjoy the conference I hope everyone has a great time in Bangkok stay safe and uh thank you","transcript_synced_at":"2026-11-03T05:17:07.443Z","segments":[{"start_seconds":0,"text":"hello everyone hope you're having a great morning uh I want to thank everyone for coming and if you're across","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=0s"},{"start_seconds":7,"text":"kind of broader web3 ecosystem joining this movement uh I think this is something that's at the core of the spirit in web 3 of reclaiming your","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=7s"},{"start_seconds":15,"text":"sovereignty of controlling your assets controlling your data your own choice and it's exciting to see this movement","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=15s"},{"start_seconds":21,"text":"continues growing and uh we continue advancing this Mission so today I want to talk about near being a block for AI","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=21s"},{"start_seconds":31,"text":"and I want to introduce um kind of what we've been working on across the stack and then we'll have uh dive in from Alex","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=31s"},{"start_seconds":39,"text":"kidana Alex shenko Kendall and Bowen talking about how different pieces of what we're working on fit together and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=39s"},{"start_seconds":46,"text":"really powering this extremely unique opportunity we are in right now so first of all I want to say huge congratulations to the protocol team and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=46s"},{"start_seconds":55,"text":"this whole near ecosystem for launching Nightshade 2.0 let's let's give a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=55s"},{"start_seconds":65,"text":"this is something that we set out to do back in 2018 to build a sharded blockchain that is able to continue scaling for any demand coming in for","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=65s"},{"start_seconds":74,"text":"billions of users for trillions of transactions and it took us some time it took a lot of research it took a lot of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=74s"},{"start_seconds":81,"text":"development but nitr 2.0 was the biggest upgrade since mainnet went without a hitch we have not had any downtime in","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=81s"},{"start_seconds":89,"text":"kind of uh in the network and kind of the protocol is continue upgrading we just had another upgrade actually today uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=89s"},{"start_seconds":96,"text":"reducing gas usage increasing throughput of the network so it's amazing to see this progress and I'm really exciting for excited to hear Bowen's talk with","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=96s"},{"start_seconds":105,"text":"more details on that now what this enabled among other things is to make near the home for Consumer crypto right","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=105s"},{"start_seconds":112,"text":"instead of uh paying you know massive fees waiting for long transactions instead of you know having unreliable Network where you send a trans action","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=112s"},{"start_seconds":120,"text":"and 30 seconds later it says block has expired you have something where you know users can unboard really easily and start using they already have you know","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=120s"},{"start_seconds":129,"text":"effectively a consumer experience that they're familiar with in case of Kai Kai and sweat and are able to use this extremely easy right and we have","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=129s"},{"start_seconds":137,"text":"especially I want to call out K Kai which had 250% growth in their user base since the year start uh hot launched","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=137s"},{"start_seconds":146,"text":"this year and grew to 20 million plus users 4 million monthly active we have sweat continue kind of innovating and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=146s"},{"start_seconds":154,"text":"progressing and kind of showing massive usages play Amber we have meteor we have sender we have lots and lots of applications growing on near really","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=154s"},{"start_seconds":162,"text":"providing this functionality uh across the board now the on the other side near ecosystem you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=162s"},{"start_seconds":171,"text":"know has been growing and there's a lot of going on but it's always not going to be enough there's still lots and lots of interesting things happening across web","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=171s"},{"start_seconds":179,"text":"3 and this this actually for me personally have been a very challenging state where you're like oh should we try to pull the projects to near and should we try to convince them and kind of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=179s"},{"start_seconds":188,"text":"enters this uh effectively like zero s game or should we actually make it easy for everyone to work together right and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=188s"},{"start_seconds":195,"text":"so um kind of through few iterations right originally it was blockchain operating system we introduced chain abstraction really allowing to interconnect all of the applications on","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=195s"},{"start_seconds":204,"text":"all of the chains together in a seamless experience there's a ton of work happening again Kendall we'll dive in into this we had uh chain obstruction","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=204s"},{"start_seconds":212,"text":"incubator launching which is amazing project building on this St on the stack enabling kind of next uh level of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=212s"},{"start_seconds":220,"text":"innovation here finally this year we've introduced user own AI this is something that's","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=220s"},{"start_seconds":227,"text":"very close to my heart uh I've mentioned this many times I've been thinking about AI since I was 10 I was trying to build you know first things when I was 14 I","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=227s"},{"start_seconds":236,"text":"started working when I was 17 in a machine Learning Company because I was excited to do this and I went to work for Google research because I saw that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=236s"},{"start_seconds":244,"text":"there's an opportunity to do something with neural networks and we started neari originally because we saw the technology is evolving and you can do","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=244s"},{"start_seconds":252,"text":"really interesting things uh back in 17 now the challenge that continued kind of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=252s"},{"start_seconds":259,"text":"across all of this thinking has been that to really build this you need to build a company you need to build a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=259s"},{"start_seconds":266,"text":"centralized place which will collect more and more data and create kind of bigger and bigger um kind of mode around it so you can make more money so you can","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=266s"},{"start_seconds":275,"text":"invest more in research and development right this is how Google done it this is how open AI is doing it this is how uh kind of even Facebook is doing it even","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=275s"},{"start_seconds":282,"text":"if they open source it and this actually is contrary to you know the redacted movements the web 3 and in general what","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=282s"},{"start_seconds":290,"text":"we're trying to do right how do we bring this into the hands of the users enable the users themselves to benefit from this technology and uh always be","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=290s"},{"start_seconds":300,"text":"kind of in control and so that's some kind of the user owned AI Movement we introduced and it's going to take a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=300s"},{"start_seconds":308,"text":"village it's going to take a massive amount of work across the ecosystem to make it happen so I kind of uh introduced a stack that we need to build","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=308s"},{"start_seconds":317,"text":"this is mimicking what's happening inside centralized companies and really building this kind of in open as an ecosystem where you have a whole host of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=317s"},{"start_seconds":326,"text":"data and storage uh kind of providers everything from you know indexing new data crowd sourcing uh monetizing","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=326s"},{"start_seconds":335,"text":"various data stream private in private computation of uh data as well as decentralized data storage you have a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=335s"},{"start_seconds":344,"text":"infrastructure and model layer where you have everything from training to inference to uh training specialized foundational models to agent Frameworks","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=344s"},{"start_seconds":353,"text":"and kind of agent payment layer and obviously have applications which actually benefiting from this in uh providing this benefit to the user so","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=353s"},{"start_seconds":361,"text":"we've been having a massive growth with this ecosystem this year there's also obviously accelerator with Horizon with deli with better works we have","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=361s"},{"start_seconds":368,"text":"communities across San Francisco and uh globally and so this been kind of booming ecosystem of projects really","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=368s"},{"start_seconds":376,"text":"pushing together what is possible and how we bring this user own AI forward now I want to showcase kind of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=376s"},{"start_seconds":385,"text":"how this things already coming together this is example of bitte wallet which allows you to effectively talk to different agents which can create","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=385s"},{"start_seconds":394,"text":"transactions and interact on your behalf with a wallet and with other chains right so chain abstraction Ai and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=394s"},{"start_seconds":402,"text":"scalable blockchain all coming together into one really enabling this unique experience right for example interacting through safe on other chains on uh on","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=402s"},{"start_seconds":411,"text":"ethereum you can you know stake on NE you can uh use potl through the natural language interface and it's extensible","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=411s"},{"start_seconds":420,"text":"platform where people can build more agents and integrate them into this and if you want to learn more Nate is going to be talking and kind of showcasing how this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=420s"},{"start_seconds":429,"text":"works so I mentioned user own AI chain abstraction sharded blockchain so user","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=429s"},{"start_seconds":436,"text":"own AI chain abstraction blockchain well these are not three different things this is one near","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=436s"},{"start_seconds":443,"text":"protocol that really enables this unique experience where you're interacting with uh computer in is changing to be uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=443s"},{"start_seconds":451,"text":"powered by AI you have chain obstruction that effectively removes this boundaries between chains and between interactions","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=451s"},{"start_seconds":459,"text":"uh and assets you're doing and you have blockchain that can scale and power all of this in a robust","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=459s"},{"start_seconds":465,"text":"way now changing gears a little bit why kind of the current world is not just","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=465s"},{"start_seconds":473,"text":"kind of fundamentally broken because of incentives but also product is not where it is right where we wanted to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=473s"},{"start_seconds":481,"text":"be first of all you know if you're looking for like doing some Commerce looking for some product or for some service you have you know Google results","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=481s"},{"start_seconds":489,"text":"which are uh effectively spammed with ads right this is their business model they effectively selling your attention to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=489s"},{"start_seconds":498,"text":"the highest bidder and allowing you uh kind of to guide you there and you go to some random website you need to go","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=498s"},{"start_seconds":506,"text":"through a lot of clicks you need to sign up now you don't know who did you give your data uh you you know you then enter","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=506s"},{"start_seconds":513,"text":"your credit card you hope it's actually you know uh safe place to enter a credit card and then you have to monitor email updates hopefully they deliver uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=513s"},{"start_seconds":522,"text":"there's like unclear process of how to make sure this works now ai introduced a new level right we can now effectively","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=522s"},{"start_seconds":530,"text":"interact with Computing in a natural way we can talk to it and the challenge is it lacks action right it can give you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=530s"},{"start_seconds":538,"text":"information but you know trying to buy a road bike it gave me some options I can maybe ask it to refine the search but I still need to go","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=538s"},{"start_seconds":546,"text":"and use Google for example to find actually where to buy it finally blockchain has built the most efficient","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=546s"},{"start_seconds":554,"text":"speculating engine right I mean what we've seen with poly Market is amazing because it's effectively a global speculation on elections which was","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=554s"},{"start_seconds":562,"text":"extremely effective now the challenge is it is limited how much you can speculate in completely digital world if you don't connect this real economy if you don't","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=562s"},{"start_seconds":570,"text":"collect this real value ad services and products for mainstream consumers and so far the blockchains have been focused on","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=570s"},{"start_seconds":578,"text":"effectively this zero sound game as I said where they're trying to battle for user for existing users and developers targeting them from different one chain","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=578s"},{"start_seconds":586,"text":"to another kind of trying to rotate them uh and with throwing massive incentives right so we don't have this like how do","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=586s"},{"start_seconds":594,"text":"we actually get out in the real world and bring real world to the blockchain so as in blockchain for AI we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=594s"},{"start_seconds":601,"text":"trying to power this user on internet right we're powering this kind of movement where you own your data assets and Power of Choice and so to do that we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=601s"},{"start_seconds":611,"text":"believe we need to change the Paradigm again the current Paradigm is you're using search engine which is using advertisement you're using payment","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=611s"},{"start_seconds":619,"text":"processors that you know uh taking its own card you have effectively like a whole marketing Machinery behind the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=619s"},{"start_seconds":626,"text":"scene that is uh trying to Target you and find kind of rewrite what you're actually looking for to uh to Target you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=626s"},{"start_seconds":633,"text":"to a specific product you have obviously kind of algorithms in Tik Tok and Instagram and acts which are benefit","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=633s"},{"start_seconds":642,"text":"like that are optimized for making money for those companies not how benefit you how to get your wellbeing so the new","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=642s"},{"start_seconds":649,"text":"paradigm is where AI is your interface with Internet it's your AI assistant that is able to understand what you want","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=649s"},{"start_seconds":657,"text":"understand uh kind of unique needs as well as plan longterm how to you know grow your uh networks how to benefit","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=657s"},{"start_seconds":665,"text":"your overall well-being and now this interface is able to directly connect with products and services around the world and on blockchain to actually have","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=665s"},{"start_seconds":674,"text":"this direct relationship and find the best product right AI assistant doesn't care to look at you know the first few","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=674s"},{"start_seconds":682,"text":"links in a Google search it will look through you know T of thousands of options and find the best one for you and so this is kind of the new paradigm","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=682s"},{"start_seconds":690,"text":"and in this Paradigm you still need a middleware right you need still a connectivity tissue that will connect youru AI on the front end with Services","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=690s"},{"start_seconds":697,"text":"AI agent smart contracts on the back hand to really power this economy and that's what near is doing now we're introducing a new","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=697s"},{"start_seconds":706,"text":"concept and this concept is intense this is a new type of a transaction that allowing effectively anyone to uh come","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=706s"},{"start_seconds":714,"text":"into agreement with other parties to exchange assets Goods services and it comes with a lot of different","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=714s"},{"start_seconds":722,"text":"functions so again let's think back what is missing from a blockchain right now we have transactions you can you know pay someone in around the world for a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=722s"},{"start_seconds":730,"text":"fraction of a scent but we don't have real Commerce we don't have real Services because there's terms of service there is regulations there is uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=730s"},{"start_seconds":739,"text":"you know Services sometimes don't get delivered and you need or Goods get lost you need a way to ensure it and you need a way to make sure uh to have some Serv","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=739s"},{"start_seconds":747,"text":"service provider to respond to you and so all of this is now comes in into a new model where in the intent itself you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=747s"},{"start_seconds":755,"text":"can attach effectively your information you can sign the terms of service you can have a dispute resolution which","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=755s"},{"start_seconds":762,"text":"includes uh insurance which includes uh even potentially a contract effectively that will be uh used in court and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=762s"},{"start_seconds":770,"text":"importantly this works between users the AI assistants other AI agents and regular services like everything from a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=770s"},{"start_seconds":777,"text":"restaurant to a bank can be running this uh on this model and be able to provide services to to the global World finally","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=777s"},{"start_seconds":787,"text":"this abstracts all of the kind of different technologies that we've been building around change tokens agents contracts and really provides a single","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=787s"},{"start_seconds":795,"text":"interface that is extremely easy to use and we'll you'll see more how this works uh right now from alexenko now to just give you a little","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=795s"},{"start_seconds":803,"text":"bit of taste what does this look like right youri assistant you know as you wake up in the morning morning it already predicts what you're going to do","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=803s"},{"start_seconds":812,"text":"what you want and it in the morning reaches out to the you know newspaper and fetches effectively uh a set of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=812s"},{"start_seconds":821,"text":"headlines and their costs right now your agent decides that um you will want to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=821s"},{"start_seconds":828,"text":"read summary of the first three and it pays a little bit with a micro payment uh to the newspaper to receive them it then summarizes it and gives you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=828s"},{"start_seconds":836,"text":"recommendations uh in your UI now you wake up you click uh you know you scroll through the feed again this feed is prioritized for you to really kind of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=836s"},{"start_seconds":845,"text":"benefit your like information based on what you want to know based on what you're interested in now you actually want to read one of the Articles beyond","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=845s"},{"start_seconds":854,"text":"the summary and so you open it and now your AI goes and requests the full article and in this case uh it's","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=854s"},{"start_seconds":863,"text":"actually worse getting the uh not not paying for it but actually getting the ad right and so now using the trusted uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=863s"},{"start_seconds":871,"text":"execution environment on the phone uh there's actually attestation that you have watched the ad as part of reading the article that is being paid","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=871s"},{"start_seconds":880,"text":"effectively to the newspaper that it can cash out from the advertisement right so this is all effectively this intent flow that allows to exchange attestations and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=880s"},{"start_seconds":888,"text":"information and settle all of this on chain uh as as the transaction concludes and another example this is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=888s"},{"start_seconds":895,"text":"something uh kind of close to my heart when the war broke out in in Ukraine uh we have started a effectively crypto donation fund that was Distributing","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=895s"},{"start_seconds":904,"text":"funds and doing a lot of different efforts and it was hundreds of volunteers effectively working like 20 hours a day to really coordinate collect","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=904s"},{"start_seconds":912,"text":"information you know help with fundraising and so you can imagine actually talking with your assistant saying hey I need to start like I want","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=912s"},{"start_seconds":919,"text":"to start such an effort and it actually helps by starting a number of other agents that are actually running in the background and executing different tasks","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=919s"},{"start_seconds":928,"text":"so you can have a fundraising agent right that actually reaches out and directly to people explains to them the situation and how the efforts of this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=928s"},{"start_seconds":936,"text":"Dow specifically will be uh executed it has another agent that is actually receiving information and requests from uh people in need and processes them","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=936s"},{"start_seconds":945,"text":"evaluates their as well attestations for example their location their kyc uh in Ukraine there's a bank ID for that and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=945s"},{"start_seconds":953,"text":"uh based on that distribute small amounts of money as well as it realizes there's requests from people uh that require actually shipping products that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=953s"},{"start_seconds":961,"text":"are not available in Ukraine and so it goes and procures them in Germany and Poland this is actually what we were doing sends them to the border and then","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=961s"},{"start_seconds":968,"text":"volunteers actually drive it through Ukraine so this was coordinated by hundreds of people but you can imagine a set of Agents actually working on behalf","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=968s"},{"start_seconds":977,"text":"and you know there's still people will be involved in uh validating some of the decisions but a lot of this work actually can be uh effectively automated through this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=977s"},{"start_seconds":985,"text":"model finally you know running a startup one of the most painful things is uh filing taxes and finding uh the best","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=985s"},{"start_seconds":993,"text":"provider so you can imagine youru assistant actually reaching out to Discovery agent in this case which gives you different options for what you're","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=993s"},{"start_seconds":1002,"text":"asking for and from this options you know you can select it can give you more context and it sends all of the accounting information to that agent","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1002s"},{"start_seconds":1010,"text":"specifically now Alex skidanov will talk more how we're doing privacy and how the agents uh can run in a specific and um","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1010s"},{"start_seconds":1019,"text":"trusted execution environments to enable that but what this means is even the developer of this agent is not actually receiving your accounting information it","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1019s"},{"start_seconds":1027,"text":"always stays private and secure and you're just getting back the filing and you can you know maybe check with other agents as well to recheck this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1027s"},{"start_seconds":1035,"text":"information so all of this is the vision but it's actually not that far uh today we're going to uh open up a near AI","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1035s"},{"start_seconds":1043,"text":"assistant it's available in chat. near it is an alpha it is still uh you know will continue iterating but we wanted to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1043s"},{"start_seconds":1052,"text":"open it up we wanted to make it open source and we wanted to open for people to uh start developing the model and kind of the way it works is youri","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1052s"},{"start_seconds":1060,"text":"assistant is effectively able to call other agents kind of other functionality and through that you can continue permissionless expand what the AI","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1060s"},{"start_seconds":1069,"text":"assistant can do so let me give you a quick example right so this is your AI assistant chat near Ai and uh first of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1069s"},{"start_seconds":1078,"text":"all it has local memory about every User it's able to associate it with a new account so it's able to actually","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1078s"},{"start_seconds":1084,"text":"remember things as you're talk to it and use that memory in different things it is a generic kind of you know uh chat","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1084s"},{"start_seconds":1092,"text":"assistant so it can answer you know questions like what where's what is Bangkok famous for in in normal way but","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1092s"},{"start_seconds":1099,"text":"importantly it also can do actions uh very similar to uh what I show this B uh for example you can create a meme coin","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1099s"},{"start_seconds":1107,"text":"about frogs at a party and it will go and generate not just an action but actually generate a whole web page uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1107s"},{"start_seconds":1115,"text":"that you can uh deploy to a website right so this is fully generated byi and obviously you can edit it if you want it","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1115s"},{"start_seconds":1123,"text":"can uh you know create the image and it actually can go and deploy it to the uh meme launch platform that we have meme","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1123s"},{"start_seconds":1130,"text":"cooking right so this is uh fully done by an AI agent uh that is specifically designed for launching uh meme coins and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1130s"},{"start_seconds":1139,"text":"you can call it from youri assistant it detects kind of your intent to be uh creating a mem coin and routes it to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1139s"},{"start_seconds":1146,"text":"this uh agent so it takes a little bit of time to show up uh on on the mem cing","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1146s"},{"start_seconds":1152,"text":"platform now you can always go and you know um like say something like hey make a mcoin was my favorite color because it","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1152s"},{"start_seconds":1161,"text":"actually remembers you know what is your favorite color again uh shared memory across all of the agents","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1161s"},{"start_seconds":1172,"text":"and I think we should see it now yeah so it showed up so you can try this now yourself on chat. near log in","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1172s"},{"start_seconds":1181,"text":"with your near account you know create a mem coin let's you know let's make a few hundred meme coins right now now the other example I mentioned this is not","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1181s"},{"start_seconds":1190,"text":"just for web 3 so this is example you want to do something with web 2 with proper Commerce so for example you want to buy a near t-shirt right so you go","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1190s"},{"start_seconds":1197,"text":"shop what is that's actually generates a uui on a fly because it knows you want a not just an inter you know a text interface but actually a rich UI where","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1197s"},{"start_seconds":1206,"text":"you can you know look through different options you want to select different sizes and you're uh and you want to effectively provide an address what this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1206s"},{"start_seconds":1215,"text":"does underneath again it works with a shopper agent that uh receives your information sends it to the uh service","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1215s"},{"start_seconds":1224,"text":"that will be delivering you uh t-shirt as well as helps you create a transaction to actually pay for it so this is example where it actually shows","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1224s"},{"start_seconds":1233,"text":"you that it calls The Shopper agent uh kind of the first time you can allow it always do this and it says hey it going","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1233s"},{"start_seconds":1240,"text":"to execute a transaction on your behalf uh do you want to do this and so this is kind of executing the payment and all of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1240s"},{"start_seconds":1247,"text":"that as all of this is done it actually ships that to uh order to the uh service that actually provides uh shipping uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1247s"},{"start_seconds":1255,"text":"for the t-shirts so this is an example again of web 2 and web 3 working together from one AI interface it's not","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1255s"},{"start_seconds":1263,"text":"just text it's Rich interface that allows to have kind of reach interactions and it's able to generate them on a fly for specific use cases and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1263s"},{"start_seconds":1272,"text":"you can kind of customize it for yourself and it's able to remember how it works there's a lot more work to be done and again this is an open platform","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1272s"},{"start_seconds":1279,"text":"anybody can come in contribute uh and you have a GitHub near AI uh to uh to contribute to the platform as well so I","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1279s"},{"start_seconds":1288,"text":"will pass it now to Alex kdov the co-founder of near as well as co-founder of neari who has been working on the research side that actually going to be","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1288s"},{"start_seconds":1296,"text":"powering the future of this technology how you guys doing okay let's talk about uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1296s"},{"start_seconds":1304,"text":"artificial intelligence um if you if you look back at the history of Technology uh if you look at what's been happening with u","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1304s"},{"start_seconds":1314,"text":"search Social Mobile it always Begins by something new and exciting uh something that changes Our Lives to the better and then one or two","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1314s"},{"start_seconds":1322,"text":"companies fully capture uh the whole you know attention whole value from the uh from the new market and then you know a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1322s"},{"start_seconds":1331,"text":"decade later that market is entirely you know used to capture every little every single dollar of our um of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1331s"},{"start_seconds":1339,"text":"value without producing value for users anymore right so with search if you go to Google today it's almost impossible to find anything with social it's all","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1339s"},{"start_seconds":1348,"text":"optimized for your attention so that you spend you know more and more time on in there and artificial intelligence is in a very similar space right now in a very","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1348s"},{"start_seconds":1356,"text":"similar moment in history where we are still at the moment where we're very excited about something new but we already can see that you know one two","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1356s"},{"start_seconds":1365,"text":"maybe three companies are fully capturing value uh and that will create a uh a data wheel uh that will","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1365s"},{"start_seconds":1372,"text":"effectively make it less uh more and more hard for uh for others to get throw them in the future uh and as long as you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1372s"},{"start_seconds":1382,"text":"know if you like me believe that AI will be a very big part of our interactions with the internet with the world uh with","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1382s"},{"start_seconds":1389,"text":"the practically everything in the future that means no user owned internet uh no user Centric future is possible as long","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1389s"},{"start_seconds":1397,"text":"as large language models are controlled by large corporations and if you look at those AR operations they have like like if you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1397s"},{"start_seconds":1406,"text":"think of open AI entropic Google Facebook they have data experiments compute the best researchers all in the same place are all very nice centrally","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1406s"},{"start_seconds":1415,"text":"orchestrated right so that allows them to iterate very quickly while outside of them if we wanted to replicate it in a decentralized fashion first of all we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1415s"},{"start_seconds":1423,"text":"don't have access to uh resources that are of the same quality today uh second of all even the resources that exist they all spread out right so a person","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1423s"},{"start_seconds":1431,"text":"who tries to to um to push it Forward they have they spend a lot of time you know looking around finding things that they","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1431s"},{"start_seconds":1439,"text":"need and we want near near is in a sort of unique position to try and go ahead","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1439s"},{"start_seconds":1446,"text":"and solve it because uh relative to web two companies right such as you know like any any web two companies company","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1446s"},{"start_seconds":1454,"text":"that would try to to Dethrone I know hypothetical open AI we have years of experience of pulling","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1454s"},{"start_seconds":1462,"text":"resources together of orchestrating a large sets of people in a decentralized fashion something that is absolutely","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1462s"},{"start_seconds":1468,"text":"important possible in web 2 um uh uh you know sending microp payments annotating","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1468s"},{"start_seconds":1475,"text":"data Etc while relative to web three companies near is in unique position because near internally has a lot of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1475s"},{"start_seconds":1482,"text":"experience building artificial intelligence uh one and only of my co-founders is literally the creator of Transformers so it's a uh you know","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1482s"},{"start_seconds":1491,"text":"nobody in the world is positioned better than near to make this change and so correspondingly it is effectively our responsibility to drive","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1491s"},{"start_seconds":1500,"text":"this uh this Innovation forward and effectively the way we want to do it the way we're doing it today is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1500s"},{"start_seconds":1507,"text":"we want near to be a uh central decentralized place uh for all the things related to AI so that all the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1507s"},{"start_seconds":1516,"text":"data sources all the models all the experiments are are discoverable uh agents so that you have access to compute you have access to data","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1516s"},{"start_seconds":1524,"text":"annotations in one place uh and yet each of those is coming from various ecosystem projects from different uh decentralized entities right and none of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1524s"},{"start_seconds":1533,"text":"that you know nobody disappearing tomorrow because they ran out of money or turned out to be you know malicious from day one affect in any way uh the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1533s"},{"start_seconds":1542,"text":"whole effort so before I get into uh the fun part let's address the most important part of uh decentralized di that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1542s"},{"start_seconds":1550,"text":"decentralized di one way or another needs to be private when you interact with chat GPT you know that your data goes to open AI but at least you can","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1550s"},{"start_seconds":1557,"text":"assume that you know um that open AI has at least some effort to protect the data it's it's a bad place to be in but it's","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1557s"},{"start_seconds":1565,"text":"not as bad as if you were using some decentralized a servers where you know some random person is running a machine","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1565s"},{"start_seconds":1572,"text":"with a 8100s and your data just goes to them and they sell it to the lowest bidder highest","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1572s"},{"start_seconds":1579,"text":"bidder uh and uh interestingly private AI is possible uh and the the way it is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1579s"},{"start_seconds":1586,"text":"possible is all the modern CPUs and gpus allow uh a technology called trusted","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1586s"},{"start_seconds":1594,"text":"execution environment something IIA mentioned during his talk uh which effectively says that if someone let's say me has a computer and I'm a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1594s"},{"start_seconds":1601,"text":"malicious actor you should never trust me uh and you have some computation you want to do but you don't have access to compute you can send it to me and I can execute it in a trusted execution","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1601s"},{"start_seconds":1610,"text":"environment and you will be absolutely certain that I had no idea what was happening on my computer uh I could not see your data I could not see uh the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1610s"},{"start_seconds":1618,"text":"code you're executing uh all I know that something was executed on my machine right and so that allows you to build all sort of interesting use cases that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1618s"},{"start_seconds":1626,"text":"allows you to do private inference meaning that I could be running a model on my machine and you could come to me run inference on my machine I will not see your data I will not you what you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1626s"},{"start_seconds":1635,"text":"were doing with the in there right you can you can send any medical records any private data and you will have 100% confidence that uh that was not in any","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1635s"},{"start_seconds":1644,"text":"way seen by me uh it allows you to run agents in like an agent provider says this is my agent it's open source it's you know it's beautiful it does","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1644s"},{"start_seconds":1652,"text":"everything you want uh here is the end point there is no way for me without trust at execution environments to know that the end point I'm hitting is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1652s"},{"start_seconds":1660,"text":"actually the agent that they see on GitHub the trust at execution environment I can do that that allows you to to have a network of Agents","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1660s"},{"start_seconds":1669,"text":"running uh in a on a decentralized network where you know for every agent that it is doing exactly what is promised you can use any secrets private","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1669s"},{"start_seconds":1676,"text":"Keys everything uh and be certain at every point that the system behaves exactly the way you want and uh none of your data is is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1676s"},{"start_seconds":1686,"text":"going to any malicious or any other actors uh but the most exciting uh the most exciting thing that trusted","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1686s"},{"start_seconds":1695,"text":"execution environments unlock is that they allow us to create Frontier open source Lang large language models which are monetizable right so today if you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1695s"},{"start_seconds":1704,"text":"think about Frontier AI you know like uh the the the models like you know Lama 405b or gp4 or you know GPT 5 is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1704s"},{"start_seconds":1711,"text":"probably around the corner they are massive training such a model requires hundreds of millions of dollars and there are very few entities who can afford spending hundreds of millions of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1711s"},{"start_seconds":1720,"text":"dollars to create such a model and then just drop the weights and say hey guys use it uh it's all yours right and uh you know if if the entirety if the whole","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1720s"},{"start_seconds":1728,"text":"future of Open Source AI is fully in the hands of meta it's a very Bleak future we have and with tees what you can do is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1728s"},{"start_seconds":1735,"text":"you can pull together resources from people uh you can train a model entirely inside of the tees using open source code uh open source data pipelines uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1735s"},{"start_seconds":1744,"text":"and then get the model that is open source meaning that the source is open but not open weights meaning that the weights are not seen by anyone uh and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1744s"},{"start_seconds":1752,"text":"yet anyone can pull the the uh the encrypted weights to the air machine and run it inside the KE but the KE would only serve the model to you uh if you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1752s"},{"start_seconds":1761,"text":"establish a payment Channel and pay for the usage right and the and the price of the usage could be extremely competitive right so it could be competitive with any inference providers that exist today","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1761s"},{"start_seconds":1770,"text":"but you know that the model once it is trained will be monetizable every usage of the model will be paid for and therefore you can actually pull together","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1770s"},{"start_seconds":1778,"text":"those hundreds of millions of dollars and have those people have a reasonable way to expect to repay their their uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1778s"},{"start_seconds":1786,"text":"contribution uh from the usage of the model so that is extremely exciting because that technology actually gives us you know gives us a path towards the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1786s"},{"start_seconds":1796,"text":"future in which the frontier models are created by the community for the community and served in a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1796s"},{"start_seconds":1803,"text":"decentralized fashion um without without sacrificing economical viability so that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1803s"},{"start_seconds":1810,"text":"is probably the most exciting uh area uh that we are exploring right now this is uh effectively the way this is a little","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1810s"},{"start_seconds":1819,"text":"diagram which highlights what I was just describing right Bob who you can clearly see is not a good uh good guy uh has a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1819s"},{"start_seconds":1827,"text":"machine uh and the Machine is fully controlled by Bob right so like he can he can open it up he can use a microscope to like","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1827s"},{"start_seconds":1834,"text":"inspect every little transistor in the processor uh but there's a trusted execution environment within his machine and everything that happens to the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1834s"},{"start_seconds":1843,"text":"trusted execution environment L is can trusted but most importantly the protocol as a whole can trusted right so the protocol as a whole can know that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1843s"},{"start_seconds":1852,"text":"the model once deployed to any of the machines with the te will not be used without uh proper payment back to the uh to the to the Dow","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1852s"},{"start_seconds":1861,"text":"that initially created it so it's a yeah and payment channels obviously something that we know works very well","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1861s"},{"start_seconds":1869,"text":"uh there's there's a way to to build this technology s such that payment channels are open between the trusted execution environment and the and the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1869s"},{"start_seconds":1877,"text":"user so it's a it's an exciting exciting technology and exciting Way Forward for user owned","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1877s"},{"start_seconds":1885,"text":"AI the only problem is it's not enough to train a very large language model ideally you want to train a a large","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1885s"},{"start_seconds":1892,"text":"language model that is good right so so for example if you think of if you think about lama 405b lama 405b in terms of size is comparable to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1892s"},{"start_seconds":1900,"text":"gp4 uh or CLA 3.5 uh but in no way is L 405b competitive with those two models right","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1900s"},{"start_seconds":1908,"text":"so even Facebook with all its resources cannot train a model that is competitive with an open AI model so how could we without having access to researchers","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1908s"},{"start_seconds":1916,"text":"that Facebook has today train a model that will be competitive because if the model is not competitive you cannot monetize it people will not use it right","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1916s"},{"start_seconds":1923,"text":"the way we approach it uh is we we start uh a series of competitions where we're just going to bring all the researchers","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1923s"},{"start_seconds":1931,"text":"who today uh don't work for open AI right there are students uh all over the world who are um getting into AI today a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1931s"},{"start_seconds":1939,"text":"lot of them are extremely talented and extremely knowledgeable who do not have a way uh to get access to compute to get access to uh to good data to get access","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1939s"},{"start_seconds":1948,"text":"to other resources uh and we will provide access to those researchers and a way for them to compete and show you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1948s"},{"start_seconds":1955,"text":"know that they are the best and they can contribute to the best model in existence and you can think of it of course we cannot have a competition you know we cannot train a one trillion","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1955s"},{"start_seconds":1963,"text":"parameter model in in such a way because you know even training one of them cost hundreds of millions of dollars but you can try train a small model and you can","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1963s"},{"start_seconds":1971,"text":"begin with like a half a billion parameter model which is small and then you can have thousands of researchers simultaneously competing for training the best half a billion parameter model","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1971s"},{"start_seconds":1979,"text":"and then you take the best of them those of those who who show that they are promising and and can do exciting things and all of them go to the next step and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1979s"},{"start_seconds":1987,"text":"now we train the best two billion parameter model right and then the best of those Advance further and at each step you have fewer people but those are","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1987s"},{"start_seconds":1995,"text":"the best people and uh but you need more compute you know fewer people more compute it's the same amount of resources you need to spend until you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=1995s"},{"start_seconds":2003,"text":"get the very best uh you know 10 to 20 people working on the very large language mod that will be competing with","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2003s"},{"start_seconds":2009,"text":"the gp4s and cloes of the world and that's uh that's a that's an exciting way to to enable first of all to enable","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2009s"},{"start_seconds":2018,"text":"people who are very talented but don't have a way uh to um to work for those uh large companies either because of uh uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2018s"},{"start_seconds":2026,"text":"their you know because of lack of opportunity or because of their values right not every person wants to contribute to the evil Corp uh you know","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2026s"},{"start_seconds":2035,"text":"to get more and more of of user of user data and user attention so for many of them that will be the way uh to apply","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2035s"},{"start_seconds":2043,"text":"their talent to show what they can do to contribute to open source AI uh and to get rewarded for","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2043s"},{"start_seconds":2051,"text":"that cool uh so that the first competition is starting effectively now that will be a competition to train a very small half a billion parameter","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2051s"},{"start_seconds":2059,"text":"model so let's together train the uh the small one and then uh we have a plan uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2059s"},{"start_seconds":2066,"text":"we will publish it very soon uh effectively you know in a in like uh six seven steps we will get to uh to very large numbers which are way more than","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2066s"},{"start_seconds":2074,"text":"half a billion you know 400 billion for trillion","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2074s"},{"start_seconds":2085,"text":"Etc so every everything I was talking about today uh a lot of it is uh live at app. it's a hub for all things AI data","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2085s"},{"start_seconds":2094,"text":"sets models compute uh it's a place where the competitions uh will be hosted uh so the you know the future of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2094s"},{"start_seconds":2102,"text":"decentralized AI has never been brighter uh so yeah let's build the future together um hello everybody uh I'm going to talk about intents for agent","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2102s"},{"start_seconds":2111,"text":"cooperation and in order to start I want to share with you one quote of a person that really changed all of our Lives Albert Einstein so he said that there","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2111s"},{"start_seconds":2120,"text":"will be trillions of AI agents and maybe one of them could win the next us elections against Elon Musk and obviously this is a joke because","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2120s"},{"start_seconds":2128,"text":"Einstein knew that Elon Musk was not born in us so he cannot run for presidency right but in every joke there is a grain of truth and the grain of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2128s"},{"start_seconds":2137,"text":"Truth here is that there will be trillions of eii Agents just count it by yourself there are billions of people uh there are hundreds of millions of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2137s"},{"start_seconds":2145,"text":"Corporations and they have at least you know 10 to 100 Services inside of all of these corporations we are going to hit","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2145s"},{"start_seconds":2153,"text":"this number this is the decentralization of the AI agen that we are going to face and the question is how they are able to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2153s"},{"start_seconds":2161,"text":"cooperate and there are multiple stages of the cooperation for the AI agents that in place they need to discover each other they need to figure out that some","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2161s"},{"start_seconds":2170,"text":"a agents are specialized in ordering a coffee and others are specialized in closing your banking account they need","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2170s"},{"start_seconds":2178,"text":"to figure out how to settle in between them and uh this means that they need to figure out how to pay how they can be","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2178s"},{"start_seconds":2186,"text":"accountable for what they are uh promising to each other payment channels is another interesting thing so","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2186s"},{"start_seconds":2194,"text":"everybody have heard multiple years ago about uh microtransactions and stuff like that it was never picked up with","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2194s"},{"start_seconds":2201,"text":"the uh with people just because people for people it's not very convenient to use microtransactions but for AI agents","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2201s"},{"start_seconds":2209,"text":"as long as they have the access to compute well they can microtrans with each other and the most convenient way how to do this is through the payment","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2209s"},{"start_seconds":2217,"text":"chck channels and in the end obviously in case something is not working we probably all have seen how large","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2217s"},{"start_seconds":2224,"text":"language models are not given to us what we expect them to give to us there needs to be a dispute resolution mechanisms it","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2224s"},{"start_seconds":2231,"text":"can be automatic onchain or it can be outside of the chain with you know experts coming in and figuring out how","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2231s"},{"start_seconds":2240,"text":"to settle now the thing that we are bringing today is that all of these things are going to be available as a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2240s"},{"start_seconds":2247,"text":"core part of the near protocol and this is our vision for the future of the infrastructure for AI agents","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2247s"},{"start_seconds":2256,"text":"cooperations now a little bit into this Vision the decentralized message bus that is going to work in parallel with","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2256s"},{"start_seconds":2265,"text":"the near blockchain itself is going to power the communication and discovery of the AI agents um as Elia said we're","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2265s"},{"start_seconds":2273,"text":"going to introduce a new type of a action in the near protocol specifically for recording and settlement of the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2273s"},{"start_seconds":2282,"text":"commitments and the third thing is that we're going to open up as we're going to create a new standard for payment","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2282s"},{"start_seconds":2289,"text":"channels that are going to settle on top of the blockchain and U Already many people have been talking a little bit about the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2289s"},{"start_seconds":2296,"text":"payment channel so just want to throw in something into you so you understand it a little bit more so the payment channel","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2296s"},{"start_seconds":2304,"text":"is a construct that allows you allows to a agents to create a channel as a transaction on the network or on the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2304s"},{"start_seconds":2313,"text":"blockchain so this is like an opening transaction and then they can send money to each other uh many different times or","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2313s"},{"start_seconds":2321,"text":"many times and then only settle on blockchain with another closing of the payment General transaction right so","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2321s"},{"start_seconds":2328,"text":"that's the thing that is going to be introduced and obviously you're going to say to me yeah yeah the vision for the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2328s"},{"start_seconds":2336,"text":"future infrastructure yeah very interesting Alex as always uh but this is not the thing this is the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2336s"},{"start_seconds":2344,"text":"piece that I'm delivering to you on the vision side uh but if you know me I always try to ship something and give","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2344s"},{"start_seconds":2352,"text":"something into your hands so you can try it right here right now and the first use case for the intent uh for intense","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2352s"},{"start_seconds":2362,"text":"on new protocol is something that you are able to use right here right now now","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2362s"},{"start_seconds":2368,"text":"and this is a multi-chain DEX so kind of not very funny right but actually it is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2368s"},{"start_seconds":2377,"text":"fun I will encourage you to to check it out but before we're going to take a look at the demo I would like to pay","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2377s"},{"start_seconds":2383,"text":"your attention to four abstractions that are introduced in this product first one is obviously chain","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2383s"},{"start_seconds":2392,"text":"abstraction the tokens the chains that these decks is integrated uh it's not only a single chain right near Bitcoin","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2392s"},{"start_seconds":2402,"text":"ethereum arbitrum and base are integrated right now and more chains to come we do have a wallet abstraction in","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2402s"},{"start_seconds":2410,"text":"this solution so that it doesn't matter with which wallet you're going to sign in currently we support near wallets all","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2410s"},{"start_seconds":2417,"text":"of the near wallets that support message signin and also ethereum wallets including metamask coinbase wallet","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2417s"},{"start_seconds":2425,"text":"wallet connect wallets and all this all of the stuff is there the third thing is a token abstraction everybody are tired","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2425s"},{"start_seconds":2433,"text":"of usdc on base usdc on ethereum there is only one usdc in the platform there","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2433s"},{"start_seconds":2440,"text":"is only one usdt on the platform there is only one e so it feels like a centralized","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2440s"},{"start_seconds":2448,"text":"exchange and the last and the most important is that there is a contract","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2448s"},{"start_seconds":2455,"text":"abstraction users are not calling any contracts users are not U signing transactions that they don't understand","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2455s"},{"start_seconds":2464,"text":"there is no blind sign in that is happening there that causes lots of problems especially in cases when the supply chain of the front end is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2464s"},{"start_seconds":2472,"text":"compromised so let's see it in action you are going to app. near","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2472s"},{"start_seconds":2479,"text":"intense org and you're able to connect to it with metamask directly by the way everything that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2479s"},{"start_seconds":2487,"text":"works works here is going on the near protocol right so I'm choosing the deposit token and this is tether from the ethereum","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2487s"},{"start_seconds":2494,"text":"blockchain I'm copying the deposit address going to my metamask and I'm just sending tether to this address","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2494s"},{"start_seconds":2503,"text":"exactly the same way how you have been sending um tokens to your centralized exchanges uh of the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2503s"},{"start_seconds":2510,"text":"choice the deposit is received and now you're able to do the swaping swaps are","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2510s"},{"start_seconds":2517,"text":"are happening in between usdt and usdc please know that there is no particular chains that are connected with it and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2517s"},{"start_seconds":2525,"text":"you're able to withdraw usdc in this case in base you put in your wallet address and you sign a message you're","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2525s"},{"start_seconds":2534,"text":"not signing a transaction this is just a message that you have signed and it's settled on near protocol and if you will","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2534s"},{"start_seconds":2541,"text":"check it out there is this usdc available on your on your account with the rest of usdt we're going to do","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2541s"},{"start_seconds":2549,"text":"something that is even more crazy we're going to swap it into Bitcoin directly you're again going to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2549s"},{"start_seconds":2556,"text":"sign a message for doing the Swap and you're going to withdraw this Bitcoin into the Bitcoin blockchain by again","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2556s"},{"start_seconds":2564,"text":"signing a message","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2564s"},{"start_seconds":2573,"text":"and and just like that Satoshi got approximately $50 um uh worth of bitcoin into his","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2573s"},{"start_seconds":2582,"text":"account um what you have just seen is a reference implementation for the intent","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2582s"},{"start_seconds":2589,"text":"protocol it is not intended to be the place where you can go though you can do it right here right now but this is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2589s"},{"start_seconds":2596,"text":"something that we see that is going to be incorporated in all of the wallets in all of the front ends that have users um","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2596s"},{"start_seconds":2605,"text":"uh this is not kind a final product but instead this is a platform that everyone is able to use in order to give this uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2605s"},{"start_seconds":2612,"text":"solution uh to the users now there are more things that are going to uh to be developed within the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2612s"},{"start_seconds":2620,"text":"near intent par Paradigm uh obviously the first things that we're going to focus on is adding offchain services and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2620s"},{"start_seconds":2627,"text":"AI agents for this um so a little bit of a different types of intents rather than just swapping one token into another","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2627s"},{"start_seconds":2635,"text":"right there will be new chain that are added and these lines uh these lays inside of the direction of the chain","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2635s"},{"start_seconds":2642,"text":"abstraction so the first chains that are going to be added and we're targeting for ton and salana to be added by the end of the year uh and even more chains","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2642s"},{"start_seconds":2651,"text":"are going to be added because of the unique uh position of the chain abstraction narrative in near protocol","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2651s"},{"start_seconds":2658,"text":"we are able to do everything that you have seen with the chains that do not have any smart contracts and to my best","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2658s"},{"start_seconds":2666,"text":"knowledge the uh this type of swapping in a permissionless manner is the first in the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2666s"},{"start_seconds":2674,"text":"industry um we are going to integrate all of this with applications and uh market makers and solvers um uh right","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2674s"},{"start_seconds":2682,"text":"away again we are not keeping this inside but instead this is an open platform this is an open protocol for everyone so uh if you would like to see","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2682s"},{"start_seconds":2692,"text":"this on your website just uh get in touch with me and we'll figure out how to do this we're going to help you to integrate all of this this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2692s"},{"start_seconds":2700,"text":"solution just on in the realm of um aii uh we are going to add additional","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2700s"},{"start_seconds":2708,"text":"pieces of this financial infrastructure into this this platform including account F or the ability to um trade","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2708s"},{"start_seconds":2717,"text":"accounts lend accounts to other people uh we are going to introduce a shared liquidity pool against which the market makers will be able to borrow which is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2717s"},{"start_seconds":2726,"text":"going to make the swaps even more efficient uh Ling is going to be introduced and more and more of the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2726s"},{"start_seconds":2733,"text":"other Primitives uh as I said already a couple of times the platform is open and anyone is able to introduce their own","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2733s"},{"start_seconds":2740,"text":"types of intents that they would like to be available for everybody and for the front ends to use and uh lastly all of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2740s"},{"start_seconds":2750,"text":"this is working as smart contracts on near right now but as I was saying we would like to integrate it deeper in the protocol level to make it even more","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2750s"},{"start_seconds":2758,"text":"efficient and as a standard for everybody intense powered the future of near as the blockchain for AI and I'm","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2758s"},{"start_seconds":2767,"text":"super excited that we are building this thing all together with all of the community you able to access it right","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2767s"},{"start_seconds":2776,"text":"here right now with your near or metamask wallets you can forget already","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2776s"},{"start_seconds":2783,"text":"today about using your centralized exchange for swap open this usdt into","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2783s"},{"start_seconds":2789,"text":"Bitcoin instead you can do it directly on the near protocol in a decentralized manner go and check out near in.org","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2789s"},{"start_seconds":2798,"text":"so what's really really fun about working in near right now is that uh everything we're building here is not just for near anymore it's actually for","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2798s"},{"start_seconds":2807,"text":"every single chain and as Ilia pointed out it's actually goes even Beyond web3 in general and we're going to be able to connect to really anything on the internet and hopefully actually change a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2807s"},{"start_seconds":2816,"text":"bit about how the internet Works uh but today we'll focus on you know what we're going to be able to bring to all these different chains that are out there and why we're super","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2816s"},{"start_seconds":2824,"text":"excited about it uh you know and I think when it comes to really making AI agents work in crypto and solving a lot of the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2824s"},{"start_seconds":2831,"text":"problems that we currently have uh what's going to be really required is that each AI agent has unfettered access to the entirety of the crypto space this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2831s"},{"start_seconds":2840,"text":"includes every single crypto asset this includes every single smart contract and really every single piece of State uh this is part of the reason that we've","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2840s"},{"start_seconds":2847,"text":"been so focused on this concept of chain abstraction it really is to make it so that developers and users are able to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2847s"},{"start_seconds":2854,"text":"interact with every piece of state every asset everything on every single chain as seamlessly as possible the way that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2854s"},{"start_seconds":2861,"text":"we're making this work is using the near abstraction stack so Alex uh just introduced a really important part of that stack which is the intent layer uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2861s"},{"start_seconds":2871,"text":"we also have two other really key pieces of Technology one is chain signatures and the other is the Omni Bridge so to give you an example of how this can kind","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2871s"},{"start_seconds":2878,"text":"of work you can imagine that a user first uh creates an intent basically submits a request to this intent and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2878s"},{"start_seconds":2885,"text":"solver Network once the the auction is kind of decided once like u a solver is sort of chosen uh either by the user or","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2885s"},{"start_seconds":2892,"text":"or through a programmatic way that fulfilled request will then turn into a signed payload that can be relayed to a destination chain uh and that's using","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2892s"},{"start_seconds":2901,"text":"chain signatures and then once that's complete let's say that that there was a Bitcoin transaction that landed uh often times there's going to need to be a settlement process that happens on the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2901s"},{"start_seconds":2909,"text":"near side and this is where near as a blockchain will need to have access to that finalized State transition on the Bitcoin blockchain and this is going to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2909s"},{"start_seconds":2917,"text":"be using the Omni Bridge which is effectively a wrapper over some different message passing layers or even light clients depending on the chain","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2917s"},{"start_seconds":2924,"text":"that will let the near uh smart contract know that that state transition on a destination chain has finally landed so","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2924s"},{"start_seconds":2932,"text":"the most important takeaway from uh the piece of technology that I'll Focus the most on today which is signatures is that we now have enabled smart contracts","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2932s"},{"start_seconds":2940,"text":"to sign transactions and this is a really really interesting design space that we're seeing a lot of teams start to take advantage of so here's a little","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2940s"},{"start_seconds":2947,"text":"bit about how it works so you can imagine on the one side we've got this near account that's on the near blockchain that will be originating some","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2947s"},{"start_seconds":2954,"text":"type of signature request so it'll call right now this signer contract on the near blockchain with a payload a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2954s"},{"start_seconds":2962,"text":"cryptographic payload to be signed and then basically the address that it wants to use to sign that transaction then the real magic we have here is this network","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2962s"},{"start_seconds":2971,"text":"of uh multi-party computation notes you can basically imagine these as uh a large group of distributed entities uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2971s"},{"start_seconds":2978,"text":"that have one part of like a key share that can be combined to sign for a private key that none of these individual parties know and the goal is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2978s"},{"start_seconds":2986,"text":"to make this group as large as possible eventually hopefully resembling the makeup of the near validator set so this group will listen to requests that come","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2986s"},{"start_seconds":2994,"text":"in on that sign or contract and they will then take that request and sign it uh using deterministic derivation function they'll basically ensure that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=2994s"},{"start_seconds":3002,"text":"this near count is the only one who can originate and sign for this request they'll then return that signature on the near blockchain um which creates a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3002s"},{"start_seconds":3011,"text":"perfect audit log of request and then response so you can verify that this was done correctly and then finally that transaction will be pass to a destination chain and this is how you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3011s"},{"start_seconds":3019,"text":"enable near smart contracts to sign transactions for Bitcoin and Dogecoin and ton salana any chain that comes with any of the thousands of chains that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3019s"},{"start_seconds":3028,"text":"apparently are going to be launching over the next few years you'll be able to use this technology right now we have about two dozen teams who are building","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3028s"},{"start_seconds":3035,"text":"across three major categories um the first one and one I find particularly exciting is Bitcoin in 2024 we've really","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3035s"},{"start_seconds":3044,"text":"seen I think a Resurgence of uh well a realization that Bitcoin is kind of the OG of crypto assets for a variety of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3044s"},{"start_seconds":3052,"text":"reasons it's going to be extremely important to continue to utilize uh but to date it's actually been pretty difficult to build with Bitcoin in kind","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3052s"},{"start_seconds":3059,"text":"of a trust minimized way fortunately using chain signatures we're able to enable teams to tackle some really exciting use cases uh on the one side","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3059s"},{"start_seconds":3068,"text":"we've got Bitcoin lending it's surprisingly difficult if you have Bitcoin on the L1 to borrow against your Bitcoin Step One is usually some type of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3068s"},{"start_seconds":3076,"text":"bridge that has quite a bit of latency we're going to be able to really remove this using chain signatures part two runes trading uh you've probably heard a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3076s"},{"start_seconds":3084,"text":"lot about this as a primitive people are very excited about the ability to issue assets on bitcoin but to date that experience has been very limited when it","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3084s"},{"start_seconds":3092,"text":"comes to actually trading these assets because the the Bitcoin layer one itself is limited and then we of course have several other use cases here like","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3092s"},{"start_seconds":3099,"text":"reaking uh or building liquid stake tokens on top of these reaking platforms uh we have several teams who are tackling that challenge to give you a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3099s"},{"start_seconds":3108,"text":"little bit of an example of what this can look like from an experience perspective uh this is actually a fork on test net of the largest lending protocol on near that's empower uh this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3108s"},{"start_seconds":3117,"text":"Bitcoin experience so you can see here I've actually connected my Bitcoin account using uniset to this lending protocol and you can actually see like a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3117s"},{"start_seconds":3125,"text":"test net Bitcoin balance right there uh I can then actually just decide to borrow against this Bitcoin balance uh after I've deposited into the protocol","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3125s"},{"start_seconds":3133,"text":"you see here I'm going to like Supply uh a little bit of Bitcoin uh and then this transaction request that pops up is actually for uh my from my uniset wallet","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3133s"},{"start_seconds":3141,"text":"uh because thanks to this chain signature technology we are able to let users bring their existing w wallet any Bitcoin wallet that they that they have","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3141s"},{"start_seconds":3149,"text":"their Bitcoin custodi in and then they're able to basically interact with this protocol just by signing a message uh using that wallet and this same","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3149s"},{"start_seconds":3158,"text":"pattern can be replicated across anything so Bitcoin users are able to be met where they are in their Bitcoin wallet but then get exposure to all of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3158s"},{"start_seconds":3166,"text":"these different usage patterns and all these different uh new experiences the next category we have a lot of teams building in is uh I think","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3166s"},{"start_seconds":3173,"text":"particularly interesting because it really changes the way that you can reason about like how you're designing your protocol and what we mean by that is you no longer have to think in terms","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3173s"},{"start_seconds":3182,"text":"of of how you're going to deploy your protocol on one chain then you appy that same protocol on another chain and then think about how maybe those two different versions of your of your","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3182s"},{"start_seconds":3191,"text":"protocol interact with each other you can actually design your protocol uh to be completely agnostic to the eventual chains that your users will be","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3191s"},{"start_seconds":3199,"text":"interacting with to give some examples of of how teams are using this uh Alex already showed an example of the near intense layer which is basically making","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3199s"},{"start_seconds":3207,"text":"so that you can swap any asset between any chain we have a couple of other teams who are working on similar products like Omni Lane and thesis who's building a uh a margin based spot","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3207s"},{"start_seconds":3215,"text":"protocol that will actually allow users to deposit any asset and leverage against it um we have teams building lending protocols particularly targeting","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3215s"},{"start_seconds":3224,"text":"very popular but underutilized assets like an xrp uh or a Dogecoin or even a Bitcoin uh and eventually you will even","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3224s"},{"start_seconds":3231,"text":"be able to borrow against your entire portfolio of assets that might span across multiple chains and open opening up an entirely New Capital base uh and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3231s"},{"start_seconds":3239,"text":"then we of course have teams building in like the the uh yield space the restak space that will allow you to restake any cryptographic asset across any chain to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3239s"},{"start_seconds":3248,"text":"show a little bit about how this could work very similar to the example that uh Alex gave earlier this is a team called omn Lane uh who's built cross chain swaps that um will enable you to swap","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3248s"},{"start_seconds":3257,"text":"between any two assets on any chain uh you can see here I basically connected my metamask account and then I'm just going to go through and swap from the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3257s"},{"start_seconds":3265,"text":"polygon test over to base uh and it works pretty similar to the to the uh the intense layer where you'll basically find a solver who will fulfill this for","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3265s"},{"start_seconds":3273,"text":"you and just a matter of seconds and this experience be replicable across a variety of chains and then last but not least we have account abstraction um we have a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3273s"},{"start_seconds":3283,"text":"lot of very exciting teams building in this space particularly bits on like the kind of AI agent powered and user experience um we have one of the most","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3283s"},{"start_seconds":3291,"text":"used apps in crypto if you're familiar with the hot wallet which is built in telegram they've actually deployed 6 million account abstra or chain uh chain","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3291s"},{"start_seconds":3300,"text":"signatures powered wallets that can actually like custody assets across a variety of chains um and then we have teams like sweat who is one of the the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3300s"},{"start_seconds":3308,"text":"largest kind of mass Market user apps and is now able to exp bring their 100 million user plus uh base uh across a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3308s"},{"start_seconds":3315,"text":"variety of different uh of different blockchains and applications and then tomorrow you guys will be getting a very special announcement from uh a very exciting team who's who's building in","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3315s"},{"start_seconds":3323,"text":"this space as well um I think what's super exciting about like what bits has been able to do is that they can take a new design pattern like a pass key based","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3323s"},{"start_seconds":3331,"text":"wallet uh and they can let you create a unified balance across a variety of different chains so like you can see here um that I'm actually have some","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3331s"},{"start_seconds":3339,"text":"ethereum on a few different chains in my bits of wallet and I can actually go and I can just connect my bits of wallet to Unis swap or any other uh any other","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3339s"},{"start_seconds":3348,"text":"application that supports wallet connect and I can suddenly send transactions from that application so you can see here I'm actually like sending this this unisoft swap approving it on the bit","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3348s"},{"start_seconds":3357,"text":"side I'll actually sign using my uh Pass key on my Mac and then I've completed this transaction you can see I now","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3357s"},{"start_seconds":3364,"text":"swapped from some ethereum on base to uh to some usdc on a different chain um and of course you can do this through uh the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3364s"},{"start_seconds":3373,"text":"AI agent uh platform as well so those are three of the areas we see a lot of teams building in I think uh a really cool direction that we're","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3373s"},{"start_seconds":3382,"text":"going to be able to go that's uniquely unlocked by this NPC technolog ology is actually building truly Unstoppable","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3382s"},{"start_seconds":3389,"text":"autonomous AI agents uh so we had Alex gnov mention earlier how you're going to be able to basically receive a uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3389s"},{"start_seconds":3396,"text":"verified request from an llm by using a trusted execution environment that's a really exciting primitive that lets you interact with uh an AI model and know","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3396s"},{"start_seconds":3406,"text":"that you were served from the AI model you're aiming to interact with uh but I think what's even more interesting is when you combine this with the key","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3406s"},{"start_seconds":3413,"text":"resiliency of the multi-party computation technology you can actually have these agents that'll just live as long as the network lives uh everyone's","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3413s"},{"start_seconds":3421,"text":"really excited about the idea of well effectively enabling like a Skynet uh but no one's really put together the pieces to actually Empower this today so like we see a lot of hype on you know","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3421s"},{"start_seconds":3429,"text":"Twitter right now about what w is going to be able to be unlocked with these Primitives uh and I'm excited that we're actually going to be able to deliver","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3429s"},{"start_seconds":3436,"text":"this TCH stack immediately so you can imagine that you basically have that AI agent that will be like have most of its","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3436s"},{"start_seconds":3443,"text":"sort of uh information and state either living on the near blockchain or a variety of decentralized Technologies a user will then be able to prompt this agent you'll see like a trusted","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3443s"},{"start_seconds":3452,"text":"execution environment where someone's running this model that'll basically return the response and then the proof of the response using the remote ad testation uh and then this this uh this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3452s"},{"start_seconds":3461,"text":"response will be able to interact with a near smart contract to then sign something somewhere uh and because this smart contract will be using this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3461s"},{"start_seconds":3468,"text":"distributed NPC technology what that means is that in order to take this agent offline you have to take down the entirety of the network which is going","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3468s"},{"start_seconds":3475,"text":"to be extremely difficult to do so this is how we can unlock these kind of truly perpetual and autonomous AI agents um","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3475s"},{"start_seconds":3483,"text":"which you know we're very excited to see how people build with this hey everyone um how are you guys","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3483s"},{"start_seconds":3491,"text":"doing yeah so you have heard a lot of very exciting uh new stuff from the uh previous amazing speakers and um I'm","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3491s"},{"start_seconds":3500,"text":"going to talk about something that's uh already existent but hopefully uh equally exciting uh this is how we build the most scalable","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3500s"},{"start_seconds":3508,"text":"blockchain so from the very beginning near star's vision of building fast cheap uh protocol that can scale to meet","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3508s"},{"start_seconds":3517,"text":"the needs of billions of users and now also AI agents and the primary way we achieve","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3517s"},{"start_seconds":3524,"text":"this is through blockchain charting uh so blockchain charting is basically this uh uh scaling approach that divide the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3524s"},{"start_seconds":3531,"text":"global state of blockchain into sh States so that no validators in the network need to the state uh of all the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3531s"},{"start_seconds":3538,"text":"shs and as a result the network can scale with the number of shards uh it has oh sorry so uh back in 2019 we came","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3538s"},{"start_seconds":3548,"text":"up with this uh nce design uh for completely shed blockchain and before that uh all the prior art on blockchain","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3548s"},{"start_seconds":3555,"text":"Shing pretty much uh is what we show on the left hand side uh which is that you have one bacon chain and for each Shard","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3555s"},{"start_seconds":3563,"text":"you have a sh chain and there is some Lex orchestration mechanism so that allows you to communicate between different shs um but it's actually very","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3563s"},{"start_seconds":3572,"text":"difficult to implement because uh when you have one blockchain per Shard then it can have its own Forks when you want to communicate between two shards you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3572s"},{"start_seconds":3581,"text":"can you need to think about which Fork uh it's coming from and which Fork it lands on and what happens if it gets reworked uh all of those problems do","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3581s"},{"start_seconds":3589,"text":"have some solutions uh but it requires uh very complex Machinery to make it work uh and one of the key Innovations","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3589s"},{"start_seconds":3596,"text":"we did uh with nade is that we say well instead of having that complexity how about we just have one chain that rules them all uh so this one chain that has","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3596s"},{"start_seconds":3605,"text":"blocks that contains chunks which are shart blocks from each chart and this greatly simplifies the design and this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3605s"},{"start_seconds":3613,"text":"is what we did um back in 2019 the first uh version of near white paper uh it's designed for complete shed blockchain","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3613s"},{"start_seconds":3620,"text":"and has uh this asynchronous execution environment uh if you want to communicate between uh to different sharts or doing cross contract call what","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3620s"},{"start_seconds":3628,"text":"happens is that uh it first gets executed on the source chart and a receipt would be be generated and sent","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3628s"},{"start_seconds":3635,"text":"to the destination shart uh and the security relies on uh fraud proofs and this is how you guarantee that uh no NOS need to track all the sh while still","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3635s"},{"start_seconds":3644,"text":"maintaining the security of the network now 5 years later we made a lot of progress on implementing the original","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3644s"},{"start_seconds":3652,"text":"nitrate Vision uh but over the past year or we did a major overhaul to the nitrate design by introducing stus","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3652s"},{"start_seconds":3660,"text":"validation uh and this is basically the foundation for the nitrate 2.0 that uh we introduced uh this year uh the reason","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3660s"},{"start_seconds":3668,"text":"for introducing St validation is threefold so one uh is because uh in practice it's actually very difficult uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3668s"},{"start_seconds":3675,"text":"to implement fraud proofs and to test them make sure that they're uh bug free and there is a very good reason why in the optimistic rollup world people are","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3675s"},{"start_seconds":3684,"text":"still still struggling with deploying them uh into production uh and two is that it actually significantly improved","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3684s"},{"start_seconds":3692,"text":"the single Shar performance uh this is because before uh the biggest botle neck we have on single Shar performance was","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3692s"},{"start_seconds":3699,"text":"State access and the reason why that was problem was mostly because you have to do a lot of disc reads and that really slow sinks down uh so with this design","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3699s"},{"start_seconds":3708,"text":"we actually make sure that the state is entirely held in memory uh we achieve this uh by having this twofold approach","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3708s"},{"start_seconds":3716,"text":"where on the chunk producer side because it can we only need a few of them they can run more expensive hardware and as","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3716s"},{"start_seconds":3723,"text":"result they can hold the state um of an entire shard in memory uh and produce uh chunks execute chunks um by having the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3723s"},{"start_seconds":3732,"text":"state uh in memory and then on the Val side because um they receive state witness they don't actually keep any state locally uh it's naturally the case","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3732s"},{"start_seconds":3740,"text":"that the state is held in memory when they execute the chunks uh and as a result because uh uh the validators","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3740s"},{"start_seconds":3747,"text":"don't need to hold any State uh locally uh they don't need to run as expensive Hardware uh in fact they can run pretty cheap hardware and this uh give rise to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3747s"},{"start_seconds":3756,"text":"better decentralization meaning that we can run uh we can have a lot more validators on the network and this is not just something","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3756s"},{"start_seconds":3765,"text":"that uh we designed and put into some kind of white paper uh actually over the past year also uh the team worked very hard on implementing this and we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3765s"},{"start_seconds":3774,"text":"launched in August 202 4 this is the biggest upgrade uh we did to mainnet since uh the original launch in October","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3774s"},{"start_seconds":3782,"text":"2020 in terms of lines of code probably like over 100,000 lines of code changed uh this huge upgrade was done completely","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3782s"},{"start_seconds":3790,"text":"life uh and with zero downtime so as a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3790s"},{"start_seconds":3802,"text":"user as user you probably didn't even know that this upgrade happened and and it has to rely on us like telling the story that this thing actually happened","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3802s"},{"start_seconds":3810,"text":"to know that well this the main that has been uh success successfully upgraded to this whole new version and now main that is uh fully shed both state and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3810s"},{"start_seconds":3818,"text":"transaction processing are shed uh meaning that no validators need to track the state of more than one Shard and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3818s"},{"start_seconds":3825,"text":"today we have six shards on Main net so that's a pretty good state to be in uh but in in my opinion that's uh just the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3825s"},{"start_seconds":3832,"text":"beginning of a whole new era where we want to explore the limit of scalability uh we truly don't know today where the limit lies uh because in series The","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3832s"},{"start_seconds":3841,"text":"maget can scale with the number of shards and not only that we actually also want to build this interesting feature called Dynamic rearing where the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3841s"},{"start_seconds":3850,"text":"number of shards on the network would dynamically adjust based on transaction load what that means more concretely is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3850s"},{"start_seconds":3857,"text":"that if you have one Shard that becomes congested uh let's say there's like popular app launching there uh then the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3857s"},{"start_seconds":3864,"text":"system detect that and uh knows that it should split that chart into two charts and conversely if have two sharts that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3864s"},{"start_seconds":3873,"text":"are both idle or low usage then it would merge them back into one so let's imagine um in in the Sprite","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3873s"},{"start_seconds":3881,"text":"future where we have 100 sharts and each of each shart can do 10,000 transactions per second and that would result in 1","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3881s"},{"start_seconds":3890,"text":"million transactions per second which is 86 billion transactions per day it's","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3890s"},{"start_seconds":3897,"text":"it's a huge number and we do need that uh if if we think about the the bright future that uh you know Ilia Alex and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3897s"},{"start_seconds":3905,"text":"other speakers have uh talked about where we have billions of users and agents or maybe even trillions transacting uh settling tents um and","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3905s"},{"start_seconds":3913,"text":"payment channels this requires on Parallel scalability that only near can offer through this shed approach","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3913s"},{"start_seconds":3929,"text":"and it's it's not enough to just have that uh 1 million transaction per second or 86 billion transactions per day uh you cannot settle all the billions of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3929s"},{"start_seconds":3938,"text":"intents per day inside one single smart contract uh that just would be too much for one single smart contract which lives in one Shard to handle so what we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3938s"},{"start_seconds":3946,"text":"need is actually shed smart contract which allows us to fully Leverage The Power of near sharting that so so that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3946s"},{"start_seconds":3953,"text":"instead of it existing on one shard it simultaneously exists on all shards of near so that basically no matter how many shards near has the smart contract","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3953s"},{"start_seconds":3962,"text":"would would be living on that many shards this is possible by making the smart contract code Global meaning that Every Single Shard has access to the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3962s"},{"start_seconds":3970,"text":"smart contract code and the state is actually stored under user account rather than today stored under the contract account which then you know","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3970s"},{"start_seconds":3978,"text":"have to live in one Shard and this means that it can fully leverage uh nearest sharding approach and and uh be much","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3978s"},{"start_seconds":3987,"text":"faster and also much more scalable um and you know allow for this non-blocking peer-to-peer or multi-party settlement uh which is key to this future we'll","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3987s"},{"start_seconds":3996,"text":"have like tons of Agents transacting with each other so that's great I talked a lot about how near scalable how we can make","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=3996s"},{"start_seconds":4004,"text":"it more scalable uh but we also wanted to make it even faster than today so today it's pretty decent the block time is uh is about 1 second and time to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4004s"},{"start_seconds":4013,"text":"finality is about two 2 to 3 seconds uh but to make a truly simless experience for the users we want to do","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4013s"},{"start_seconds":4020,"text":"better and one of the primary ways we want to do this is through the separation of consensus and execution uh that may sound very abstract so what","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4020s"},{"start_seconds":4028,"text":"that means is that today uh one of the problem we have is that when you need to execute something you first need to to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4028s"},{"start_seconds":4035,"text":"wait for the consensus to uh to create a block and then you know what to execute uh that's a problem because um means","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4035s"},{"start_seconds":4043,"text":"that you cannot the noes are not constantly executing transactions or receipts it has to wait uh rather what we want to do is we want to have","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4043s"},{"start_seconds":4051,"text":"consensus wrong as fast as possible just ERS transactions and then separately the executions try to catch up uh this means","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4051s"},{"start_seconds":4058,"text":"that a node would be constantly executing transactions because it know what to execute it's already there uh waiting for it to execute uh this would","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4058s"},{"start_seconds":4066,"text":"allow for uh for much better throughput but also would support long running transactions because now you don't need to have a state rout update every single","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4066s"},{"start_seconds":4074,"text":"block and uh because blogs are produced uh much more frequently uh if you have this RPC nodes uh just eagerly execute them","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4074s"},{"start_seconds":4083,"text":"as they get produced you also get optimistic confirmation that's much faster than what we have today and that is enough for most people and then","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4083s"},{"start_seconds":4091,"text":"separately we still have the finality guarantees that we have today so that's also not the end of it so if you actually think about it in a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4091s"},{"start_seconds":4099,"text":"more uh concrete way like what what what this kind of thing actually enables so uh on the bottom can see what we have today so let's say you have some","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4099s"},{"start_seconds":4108,"text":"transaction uh that missed the the block production let's say got got in like 1 M second after the blocks produced then","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4108s"},{"start_seconds":4116,"text":"it's kind of suboptimal because you have to wait for one full second until the next block get produced rather if if we have this separation of consensus and execution","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4116s"},{"start_seconds":4125,"text":"the consensus just constantly runs you can produce blocks much faster and let's say blocks are produce every 200 milliseconds then even if you miss the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4125s"},{"start_seconds":4132,"text":"block production you know that you will get in 200 Mill second later which is you know 5x better than what we have today and what's more interesting is","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4132s"},{"start_seconds":4142,"text":"that it allows for this uh long running transactions that doesn't fit in the in the limit of one block so that is not","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4142s"},{"start_seconds":4149,"text":"possible today because we we we need to make sure that consensus can continue producing blocks and not get interrupted","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4149s"},{"start_seconds":4156,"text":"uh so that there is a gas limit that essentially limits how much time uh each blog can spend on execution um and in in","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4156s"},{"start_seconds":4164,"text":"this new word because you don't actually need to have the state rot update going into the consensus for the next block you can actually wait uh longer than one","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4164s"},{"start_seconds":4172,"text":"block or even two blocks uh to wait for some some transaction to finish and this is very interesting because it it enables use cases that not possible","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4172s"},{"start_seconds":4180,"text":"today for example we have um we have this we have Aurora running evm interpreter as a smart contract and Alex","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4180s"},{"start_seconds":4188,"text":"has come to me at least a 100 times saying that hey like how can we make sure that one transaction can fit more gas into it so that we can we can we can","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4188s"},{"start_seconds":4196,"text":"be fully compatible with ethereum executing 30 million evm gas in onee transactions so this is basically the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4196s"},{"start_seconds":4203,"text":"solution to that and on top of that you still the use cases we support today let's say ref swaps that takes 5 milliseconds that's also uh readily","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4203s"},{"start_seconds":4212,"text":"available and also much faster uh so this combined with uh what we already have with with nit 2.0 this leads to a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4212s"},{"start_seconds":4220,"text":"very bright future where not only near is hypers scalable uh but also extremely fast and a very versatile you can build","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4220s"},{"start_seconds":4227,"text":"all kinds of different applications whether it's decentralized exchange that are some swaps it's very fast to execute or some long running computation that","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4227s"},{"start_seconds":4235,"text":"takes seconds to execute first of all I think it's really exciting because uh this is also I come to Bow as well very frequently where like we need to make","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4235s"},{"start_seconds":4244,"text":"blockchain faster and indeed we are getting to really good throughput we can put a lot probably most of the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4244s"},{"start_seconds":4252,"text":"applications in web 3 if not all application web 3 on near and we're still going to have ton more capacity but now we can actually run with the","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4252s"},{"start_seconds":4260,"text":"speed of internet where the latency indeed you know every 100 milliseconds are failed by users so we can actually accelerate that so really exciting so we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4260s"},{"start_seconds":4268,"text":"have the sharted blockchain we which is you know is scalable it is reliable and it's getting faster and faster we have","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4268s"},{"start_seconds":4275,"text":"chain abstraction uh as Kendall talks through it that enables using all of this um kind of different web three","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4275s"},{"start_seconds":4283,"text":"Technologies been built around internet as well as enabling really interesting things on near itself we have intents as a new primitive that allowing us to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4283s"},{"start_seconds":4291,"text":"effectively coordinate different actors agents Services market makers participants on the global internet in a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4291s"},{"start_seconds":4299,"text":"very kind of interesting new ways and uh and creat as new amazing experiences as he showed and we have user on AI with AI","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4299s"},{"start_seconds":4308,"text":"assistant and the research that going to advance what's possible with web 3 so all of these are really powering this","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4308s"},{"start_seconds":4316,"text":"future that we envisioning all of them are effectiv enabling how we see that AI will be driving forward how we interacting with internet how we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4316s"},{"start_seconds":4324,"text":"interacting with uh Computing how we interacting with each other and all of them are effectively core components of this Vision right again you can think of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4324s"},{"start_seconds":4332,"text":"them effectively uh as front and back end it gets a little bit mixed with chain abstraction as kind of Kendall was talking about you know it can both work","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4332s"},{"start_seconds":4340,"text":"on the wallet side enabling new experiences and on the backend side enabling you to Marshal assets and um","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4340s"},{"start_seconds":4348,"text":"kind of interconnect uh applications similarly for intents it can work between effectively any of chain agents","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4348s"},{"start_seconds":4356,"text":"uh be that in the UI or on a back end now the kind of what we going after","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4356s"},{"start_seconds":4365,"text":"right I think one of the interesting things in web 3 we always you know competing with other blockchains and the reality is that's not the competition","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4365s"},{"start_seconds":4373,"text":"the competition is the current status it's the internet where the ads are effectively dominating and the attention","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4373s"},{"start_seconds":4380,"text":"is driven to Mon and monetized every interaction every click you know there's ton of AD framework and ecosystem that's","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4380s"},{"start_seconds":4388,"text":"working to effectively drive you to some decision that is not yours and so that's really what we're replacing right this is the new type of Commerce powered by","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4388s"},{"start_seconds":4396,"text":"AI this is user own internet that is on your side this is replacing effectively the whole kind of digital ads and uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4396s"},{"start_seconds":4404,"text":"marketing spent on those ads that is you know over $400 billion in a year in the budget it's all the payment processor","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4404s"},{"start_seconds":4412,"text":"fees and all the aggregator commissions right which are now disaggregated because your AI can actually evaluate all the options in a neutral way without","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4412s"},{"start_seconds":4421,"text":"needing to have a mediator and a third party a middleman to do this and finally all the financial services right as you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4421s"},{"start_seconds":4427,"text":"saw what we can do now uh was intense this also can work with Fiat this can work with you know stocks it can work with any asset","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4427s"},{"start_seconds":4435,"text":"uh in the world so that's a future where we're going right this is trillion o over trillion dollars of business value","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4435s"},{"start_seconds":4442,"text":"a year that we going to be capturing through building the system with all of the applications and kind of AI","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4442s"},{"start_seconds":4449,"text":"assistance in the ecosystem as well as result of services and smart contracts and applications been built in the in","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4449s"},{"start_seconds":4456,"text":"the ecosystem so few key takeways right so near is the blockchain for AI uh go","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4456s"},{"start_seconds":4463,"text":"check out near AI assistant again it's Alpha so uh doic works but you know you can try launching mem coins not","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4463s"},{"start_seconds":4470,"text":"Financial advice you can uh there's also like more and more agents going to be added uh to actually enable more and more functionality if you're a","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4470s"},{"start_seconds":4479,"text":"researcher or interested in kind of building agents as well uh go to ab. for research Hub uh there's a lot kind of","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4479s"},{"start_seconds":4487,"text":"more and more resources being added there and finally uh exploring your intents both you know how it works right now as well how you can integrate it","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4487s"},{"start_seconds":4494,"text":"into your application enabling new experiences or become part of the network effectively providing Services uh into","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4494s"},{"start_seconds":4501,"text":"this so I'll just finish on this thought that New York has never been kind of a you know traditional blockchain with uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4501s"},{"start_seconds":4509,"text":"lots of promise and lots of marketing and uh you know slow delivery uh we always focused on like delivering really interesting stuff and uh trying to","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4509s"},{"start_seconds":4517,"text":"figure out how to Market it and how to explain it the the story of you know iterating on open VB and kind of all all","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4517s"},{"start_seconds":4524,"text":"of the ideas how we kind of position this has always been a uh our story of we we seiz the vision but uh we we","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4524s"},{"start_seconds":4533,"text":"learning how to communicate and so what we doing here is really going after that Vision that we kind of always had since","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4533s"},{"start_seconds":4542,"text":"2018 2019 to really reenable the internet and be that kind of infrastructure that really interconnects","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4542s"},{"start_seconds":4549,"text":"what's possible and removes uh middleman removes the kind of uh atory economy that's been built right now on internet","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4549s"},{"start_seconds":4558,"text":"and so I'm really excited there's a lot more talks and a lot of uh kind of um folks building the ecosystem already uh","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4558s"},{"start_seconds":4565,"text":"in this Primitives uh as well as you know New Primitives for for the ecosystem there's applications talking about how kind of amazing experience","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4565s"},{"start_seconds":4574,"text":"they can provide so I hope you enjoy the conference I hope everyone has a great time in Bangkok stay safe and uh thank","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4574s"},{"start_seconds":4582,"text":"you","url":"https://www.youtube.com/watch?v=MRuVnxq9BVY&t=4582s"}],"youtube_url":"https://youtube.com/watch?v=MRuVnxq9BVY","url":"https://near-pedia.xyz/videos/MRuVnxq9BVY"}