{"id":"qIi-BcLk5AU","title":"Scaling Bitcoin Matters  The Good, The Bad, The Ugly - Panel","description":"Join NEAR's community:\nWebsite: https://near.org/\nReddit:   / nearprotocol  \nDiscord: https://near.chat/\nMedium:   / nearprotocol  \nBlog: https://near.org/blog/\nTwitter:   / nearprotocol  \nGitHub: https://github.com/near  https://github.com/nearprotocol\nDev Docs: https://docs.near.org/\nCreate a wallet: https://wallet.near.org/create\nApps on NEAR: https://awesomenear.com/\nLearn to Build On NEAR: https://www.near.university/\nGrants & Funding: https://near.org/grants/\n#Blockchain #FutureisNEAR #NEAR #nearprotocol\n#nft #dao","channel_name":"NEAR Protocol","published_at":"2024-04-03T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/qIi-BcLk5AU/hqdefault.jpg","transcript_text":"so this is kind of like the uh the next discussion that we're going to have regarding the Bitcoin um and scaling Bitcoin The Good the bads and the Ugly of uh whatever it is that we are building on top of so um I do have a wonderful panelist here um so I guess you know what if we can start from you know this gentleman over here uh please introduce your yourself and what you're building uh what kind of like your your role in you know in the system hi everyone Hi um my name is Bowen and um I'm from proximity um and proximity is um a research development entity um focus on near 100% focus on near and growing the near ecosystem with everyone um um and um we used to take care of the defi ecosystem now expanded our initiative um together with the um shift the focus um um on like blockchain operating system and also chain distractions and also um maybe like some potential new directions and um sometimes take care of the go to market as well thank you awesome so yeah so yeah please give Round of Applause for Bowen please and next we do have fat I know very smart Engineers I'll say uh I've been known him for several months here so you know please do introduce yourself and kind of like what you're currently building yeah of course so my name is fat I've been in the ecosystem for nearly two years now it's going to be two years in end of this month I'm part of pagoda which is a one of the core contributors to new protocol the protocol itself and Tools around it I a engineering manager who is um involved in a couple of multi-chain um chain abstraction products mostly around um multi-chain gas Rel layers and data Mobility layer all right awesome so yeah again uh a big round of applause for f list so I guess you know let's dive deeper into what you know let's talk about chain obstruction first because we move on to the Bitcoin part so the first question is what is your what is chain obstruction from your perspective and why should anyone care let's start with bow first sure um well um I think um just maybe taking a step step back to looking at um the current market um um right now uh we have like hundreds of chains and among hundred chains there is like 100 thousands of applications um and um um chain abstraction is one of the ways to address one of the um fundamental user um experience issue that we face right now uh which is like um to access an applications on various chains you need to um have a different sets of wallets and also um interact with the different um sets of like infrastructure as well and um us the user journey is very much fragmented um so chain of struction basically allows you to use like single Wallets on near that can essentially like interact with um um all of the smart contract calls and also applications on different chains without noticing that um you are going to different networks and bridging n as different different networks awesome yeah so um yeah what about your F maybe we can touch deeper into the technical standpoint because you like you do have background I mean before I even go technical in web 3 maybe we should talk about user experience around um how things are in web 2 and if we want to be better than web 2 we should probably transcend The web2 Experience right now if you send an email from Gmail you can get from your Microsoft account right so why can't we just replicate the same thing in web 3 um and chain abstraction movement is kind of what we're try to do um to kind of transcend that user experience where it doesn't matter where your assets live it doesn't matter what application is what it matters is the experience and building these Technologies and infrastructure to kind of give that user experience to the user is what the chain abstructure movement is doesn't matter where your assets is assets are or where your data lives as long as you can use all these apps um in an abstracted way and if you want to go technically deeper yeah yeah um so the idea is that um NE protocol will and right now is hosting a multi party computation Network that um can act on users behalf without actually keeping the shares of the private keys and sign transactions um and send to the other chains which means that you can just have one account on your your protocol that would allow you to use m mle chains which means that at the end of the day with actually building on top of it these multi-chain gas layers eventually being an intent relayer it doesn't matter where your assets are it just matters where you want to send your transaction to not even a transaction depends on what you want to do as a as an intent um so that's what we're trying to enable with the infrastructure that we're building right awesome so I think like everything's boiled down to the user experience like we do care about our users like like Jeff Bas said we need to have a what is what's the word like customers obsessions like we need to obsess with our users on how we can kind of like um give them the best experience that they ever had so let's move on to the next question what's your take on scaling Bitcoin like this is the this is the this is our like like panel uh title so scaling Bitcoin what is kind of like The Good the Bad and the Ugly thing that you guys kind of like have in your mind when we talk about scaling Bitcoins you know let's start from bone first okay um so I think networks like Bitcoins um um are pretty much are like um quite unta Market in in um in in the crypto Market of War um you see um smart contracts started growing like um and getting real adoptions starting from like ethereum and lots of like ethereum leer toos um but there's like um Bitcoin like probably started this year people realized that there's actually like one um more than one trillion of assets sitting on bitcoin networks um that's underutilized right and um if you really just build a very SM very simple smart contract uh or like very simple like side chains that um enable um Bitcoin transfers at a cheaper cost and also bring more utilities to do those idle Bitcoin assets um people use them right you can see lots of like Bitcoin l2s coming up and with very nent technology they can like attract billions of of TVs right so um I think um this this Market is pretty much like looking forward like um various ways to um bring more utility and bring more adoptions and um enable like Bitcoins in in um into more of a like Financial systems um um in in the crypto Market um and um well what the what again then there's various approaches right um I think um if we really look at some of the Bitcoin l2s um some of the funds are not actually like directly depositing into the smart contracts um but like sitting on the custodial accounts um and those custodial accounts like this um various Bitcoin Network l2s just wi list those addresses right and they consider to be like asset deposit into the network and in turn they mirror sum of assets and uh which consider points like in in the in their in the um Bitcoin l2s and um and then enable like those mirror assets of Bitcoin assets like to be used on those like Bitcoin L2 and like I I think it's not ideal in terms of like security security level um I think what chain abstraction essentially does is like um removes one of the ways of like um locking assets and also um bridging like the necessity of bridging assets from one network um and to another is it's a direct signing of um transactions that's probably going to improve on the security level a little bit and um and um and the possibility is a little bit more as well right you see that um even like I don't know um there there's a few uh participant in markets trying to like working on Multi chain and and tap into Bitcoin like um th chain z um chain flip and Etc um I'm not sure like many people know that um th chain actually does about maybe like around 0.5% to like 1% of the total Bitcoin um trading volumes um in into this market right and that shows that the market has this decent interest and um and um yeah well um I think chain abstractions um compared to Tor chain and others um it's um this scalability of the systems by um having one account controls many accounts and those um each individual accounts can become a smart contract and we can build um infrastructure and defi instruments on top um unlocks more possibilities than the some of the current existing Solutions so um um yeah I personally I'm quite bullish um but in the end we going to come down to our um user experience um so user experience is going to be be the key um yeah I'm looking very much looking forward like it else how um Bitcoin well how chain struction will be used on scaling Bitcoin and and potentially unlocking more of a assets on various other like nonpar contract chains as well awesome so yeah I think um well you mentioned like security like like obviously if you take a deeper look at what near is C building with genr I believe like the security wise it is a lot better compared to this like bridess multi that is owned by several people several companies but yeah let's you know let's see what uh what fats get for you know for for the scaling Bitcoin like maybe you can also touch uh into the technical standpoint as well yeah I'm not I'm not really a Bitcoin expert but I can try um so I'm going to probably Echo what Bowen has been saying um there's mult in the in in the last year or two Bitcoin Bops or Bitcoin l2s has been um coming into play to be to be completely honest like Bitcoin is the most decentralized asset that we have in the world right now so it makes sense to to kind of Base the security of your system on that how you do it it kind of depends um there like you said there's multi contracts multi l2s which is not great there's side chains which is okay you have to bridge your asset then you have to WP it and there's rollups that are coming in which I think are very interesting um but still it's in development how we're trying to approach this chain chain so that's the kind of like the good part is that it's very decentralized right so we should probably tap into also that that part of Bitcoin using its security to create systems on top of it the the Y the bad is wrapped assets not not so great um bridging experience is not so great finality is 10 minutes it's not so great to to do any execution in a meaningful time um the ugly I would say is we're still in in this space where not everything is defined yet um we don't know how to exactly use it because it's not exe like you cannot execute something on directly on bitcoin because you cannot run Spa contracts right um how we're trying to Sol this with chain abstraction is at near side at least um providing an execution layer um for Bitcoin defi Primitives where you can hold and hold a Bitcoin asset through chain signatures and then write the smart contract on on near in Rust in JavaScript whatever you want to use and then um swap the assets based on a certain um business logic which is very powerful when you think about it because you don't even have to interact with the with Bitcoin itself it's just account swapping it's ke swapping up the keys which I think David's going to talk um later during the day um which is a very very powerful primitive right because you have instant finality not instant but finality of near chain which is around um three blocks um which is something that we haven't seen in any other chain as far as I know uh which is very exciting to me and should be very exciting for the builders too because then that opens up a whole new space for these um execution lists l1s um that they can use near multiparty computation to even swap two different um executions L1 assets which is czy crazy if you think about it um and something that hasn't been really into play until now so I think that is something that I'm very much looking forward to awesome so yeah I think you know like just want to like touch uh some point of real like the experience that chain obstruction is going to like provide to the end user is going to be like very different compared to what we have right now so like it's going to be very experimental like the user Journey will be very much different in which like I don't know if the Crypton native would you know would probably likes or not but overall like the end users is kind of like like sorry the master users kind of like the the end goals here to make sure that they can onboard this user so I don't think like new Jour is like they haven't even been in crypto so that's kind of like the Target that we probably going to uh focus on the next question is it's so like how chain obstruction would and should be implemented so there's going to be like like I mentioned earlier going to be like a lot of Journeys like from you know from your perspective how it should be implemented so it's going to be on the app level is it going to be on the wallet level protocol level like bridge bridgeless what's kind of like the best experience that you guys might think about on how we can implement it old layers has old layers the all the layers that you talk about yeah yeah play into the chain abstra yeah like yeah yeah let's let's yeah I can I can maybe start um so right now what we're building on near protocol side is pretty much using protocol um it's not specifically on protocol but we will be introducing new protocol features to to enable chain abstraction right so it starts from the the bottom and then as you go on top you can use Smart contracts and then you can use maybe multi-chain indexers and on top of that you use multi-chain wallets to give the user the the experience that they're only using one system while they're using multiple systems under NE to control multiple Assets in multiple places um the the part that we should be also looking into is how do we do this trustless right um that's where the bridges come into play or like cines come into play you need to have some kind of a proof that something happened on the other side um on near to either unlock um assets or to to to execute some logic so everything all the way from protocol up until applications on the wallet is part chain exraction yeah maybe like just want to touch a little bit about a light CLI for example do you like do you think like the light CLI is going to be on the protocal level there's going to be like a lot of light clients like for example ICP ICP did have Bitcoin indexes running on top of the ICP as a smart contracts do you think that's something that near protocol should also do as well David can answer it he's I think he's going to talk about a little awesome yeah um but I do I do believe that if you have if you're going to build Trust Systems and there's going to be communication between chains there has to be some kind of a cross-chain communication Channel which could be using light cines or which could be using Bridges um I don't know what how exactly ICP used to do it as I said David can talk to it more than I do um but yes awesome so yeah what about you B um yeah AG agree with fat um but I think I'm I'm more ke on leaning towards um seeing potential some of the like great Innovations on the app level um like um like we just talk about like defa applications and what we call like um defa apps like um most of the defa applications right now in today's market uh it's really just like one front end lay calling very simple smart contract and serving ones like or or several specific um um focuses of a function course on on the bank end right and um and and if we like um um mirror that user experience in in in the real world when you interact with like Financial um um like even like brokerage systems like there's usually just one platform or like any of like Bank transfers and things all right Bank systems there's one system one applications that interact with and and shows you various um Financial Services um and allow you to seamlessly to access various um functions or or services like without knowing the terms of like Bridge like transferring assets between different accounts just as a transfer it's not like Bridge right and and also buying a stock on like um hon um index or buying a stock on like um NASDAQ or or nework exchange they they you don't need to know this stock is actually listed on somewhere you just know that I'm buying a stock of a company right so um I think um with the enabling of um chain abstractions and um and even like blockchain operating system there's various ways that you can try to restructure um today's fine user experience or really just like retail facing user experience redesign it think about how you can with the possibilities um unlocks with chain rection and and um with on the back end and also chain um blockchain operating system on the front end with the composability and everything um how you want to redesign nap today that serves for the interest of to welcome new more newcomers um into the market um with more of a familiar um user interface and user Journey that you want to craft for them right and um another perspective is like um I think well I'm a def5 farmer right and um I think right now in today's world especially on this area different leer toos uh many of the L to is just coming out um in my perspective more for like valuation purposes right there's no needs for like 100 layer tools in the market coexisting the market the ideally I think um this there sometime there's out to be a battle and um and each of the L to that um will will stay remain standing will probably like um craft their own business identity and um um unique business use cases that's um um that users remember them for specific purpose later TOS right and um if that happens um like with chain abstraction really just like need to have one account on a that can um basically interact with all this um specific purpose whether to be like app chains or like ethereum leus or even like Bitcoin xrps um um trying to tap um um navigate users um for what they need and on the back end you already sorted out and um it just allow users to access the financial services that they want without knowing well I'm going to optimism for that um I'm going like um like I don't know oportune for that yes so app lb right yeah so I think like again like it's like we need to kind of like what welcome these new users from like the non crypto space to kind of like jump in the cryptos and you know F the wonderful world of web three I guess um and let's move on like this going to be like the last questions so what can we expect from Chan obstruction that you guys are utilizing like for example B once you you you're focusing on depd some second and maybe there's something there some share some Alpha with us also figure out what you know what are things that we can expect you know from the Koda like is there any kind of like new protocol stuff how about Securities and whatnot so you know please do share like what can you expect from you know from your products and also chain obstructions sure um yeah well um I think from my perspective I I'm just a business person marketing person um uh more focus on what users well ultimately actually like the products that reach out to the users um um that users will be interacting with um so with chain obstruction like um the the term abstracting is very like um um essential here so I like ideally with the like with with the chain instraction technology we can abstract away many of the unnecessary user steps whether to be like like that that what we do whether they're doing on the front end or like um um like explode um trying to tap into Bitcoin Latos and others um like even like ones that um we're using to unlock I think proximity we're doing some demos on or some like hacking around the dogecoins Doge yeah so um bring like smart content ability on dogecoins um like the first layer is um trying to make it fun and make more assets more accessible to the users as as a first point and second point is um with these accessibilities of all these assets and um try to reutilize some of the idol Assets in the market and bring some of the financial values and really focus on the user experience and actually focusing on abstracting away many of the users steps um that's not needed um yes all right thank you so much one so uh what about you if yeah so pagota has been working on multiple chain abstraction products until now um the first one was the decentralized font ends which powers that de um that's still ongoing um Charles is here he's leading the that initiative he's I think you guys are going to be releasing the V2 of the um VM very soon that's that's one the other one is what David is working on is chain chain signatures which what we've been talking about and how you're building your product right now on um on top of that we're also trying to abstract the gas part of it so like if I have an account on near and I only have near if I want to do something ethereum how does that work and I'm going to give a talk about it today if you guys want to listen to it um how we're trying to solve it uh on top of that there's even more to it um I have five near um I want to buy a nft on some Marketplace how does that work um these are something that has been going on an is working on there's cap framework it's intent Rel layers and how that works that's something that we've been working on right now um let me think what else um we've been also working on data availability layer which is reducing the costs for um ethereum l2s because there's a lot of block space requirements for the l2s that is also working towards chain obstruction um idea where the users shouldn't really care about um how much one layer two cost it should be probably abstracted and should go to zero at some point for the users um those are the products that we've been working on and we're going to still be pushing um and we built very bullish from chain of Direction um yeah well maybe just a special like some shout shout out to the da da team um what what what they are working on just some leaks um what um they are um the position of DD is trying to be the universal um single entry point into all Ean layer TOS right so they're working with all layer TOS in the market um and one of the things is like with polygon cdk chain stack and also op stack and alrum stacks um like the stacks all have familiar um TX stacks and um there really Che can be like one single entry point that tapped into the like one of the um um like stacked ecosystems so they're working with like um was poly more heavily on um building the single entry point into the CK ecosystems and tapping with one wallet tapping to like um like Kanto uh X1 and also like um Asar and things and so users um and user traffic will be redirected in this closed ecosystems um with one single interface and single platforms um and um expanded to that like this initiative can be expanded to like all Leg tool um right now they have like 18 chains and 150 applications all one platform and um since launch um they have gained um 76 76,000 users um in 30 days so like pretty pretty impressive numbers right um and so yeah well um there's a lot more new things um um I think near um with all the developer out here um here innovate right uh ni has a very good um very solid fundamental Tech um in the market probably one of the best if not the best and all you need to do think as a developer and think as as a Founder is trying to think about how you want to how you can um interact and utilize some of the technology and bring into US real us experience and um I think there's a lot of like um potential and and and um possible ways that you can uh build your business on on top of there right great so that's that's the alpha guys so um so like again like B mentioned earlier like n has the best STX to onboard users and it's kind of like proven with like for example hot wallets they manag to onb one million users in just couple days dep dep 76,000 users and for us like he blue like in the last few days we've been launching this airdrop campaigns in which GA almost 20,000 users um into near so yeah I do agree that chain obstruction is bullish it's going to be the future and think that's pretty much it for this panel thank you so much Bowen thank you so much fat for all the Insight that you guys gave to us um so yeah let's uh let's kind of let's see how the future look likes in the in the next couple months with ch obstruction thank you so much thank you","transcript_synced_at":"2026-11-03T06:06:11.467Z","segments":[{"start_seconds":6,"text":"so this is kind of like the uh the next discussion that we're going to have regarding the Bitcoin um and scaling Bitcoin The Good the bads and the Ugly","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=6s"},{"start_seconds":14,"text":"of uh whatever it is that we are building on top of so um I do have a","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=14s"},{"start_seconds":21,"text":"wonderful panelist here um so I guess you know what if we can start from you know this gentleman over here uh please","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=21s"},{"start_seconds":29,"text":"introduce your yourself and what you're building uh what kind of like your your role in you know in the system hi","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=29s"},{"start_seconds":37,"text":"everyone Hi um my name is Bowen and um I'm from proximity um and proximity is","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=37s"},{"start_seconds":44,"text":"um a research development entity um focus on near 100% focus on near and growing the near ecosystem with everyone","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=44s"},{"start_seconds":52,"text":"um um and um we used to take care of the defi ecosystem now expanded our initiative um together with the um shift","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=52s"},{"start_seconds":60,"text":"the focus um um on like blockchain operating system and also chain distractions and also um maybe like some","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=60s"},{"start_seconds":68,"text":"potential new directions and um sometimes take care of the go to market as well thank you awesome so yeah so","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=68s"},{"start_seconds":75,"text":"yeah please give Round of Applause for Bowen please and next we do have","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=75s"},{"start_seconds":83,"text":"fat I know very smart Engineers I'll say uh I've been known him for several months here so you know please do introduce yourself and kind of like what","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=83s"},{"start_seconds":90,"text":"you're currently building yeah of course so my name is fat I've been in the ecosystem for nearly two years now it's going to be two years in end of this","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=90s"},{"start_seconds":98,"text":"month I'm part of pagoda which is a one of the core contributors to new protocol the protocol itself and Tools around it","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=98s"},{"start_seconds":106,"text":"I a engineering manager who is um involved in a couple of multi-chain um chain abstraction products mostly around","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=106s"},{"start_seconds":115,"text":"um multi-chain gas Rel layers and data Mobility layer all right awesome so yeah again uh a big","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=115s"},{"start_seconds":124,"text":"round of applause for f list so I guess you know let's dive deeper into what you know let's talk","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=124s"},{"start_seconds":133,"text":"about chain obstruction first because we move on to the Bitcoin part so the first question is what is your what is chain obstruction from your perspective and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=133s"},{"start_seconds":141,"text":"why should anyone care let's start with bow first sure um well um I","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=141s"},{"start_seconds":151,"text":"think um just maybe taking a step step back to looking at um the current market um um right now uh we have like hundreds","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=151s"},{"start_seconds":160,"text":"of chains and among hundred chains there is like 100 thousands of applications um and um um chain abstraction is one of","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=160s"},{"start_seconds":169,"text":"the ways to address one of the um fundamental user um experience issue that we face right now uh which is like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=169s"},{"start_seconds":176,"text":"um to access an applications on various chains you need to um have a different sets of wallets and also um interact with the different um sets of like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=176s"},{"start_seconds":185,"text":"infrastructure as well and um us the user journey is very much fragmented um so chain of struction basically allows","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=185s"},{"start_seconds":192,"text":"you to use like single Wallets on near that can essentially like interact with um um all of the smart contract calls and also applications on different","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=192s"},{"start_seconds":201,"text":"chains without noticing that um you are going to different networks and bridging n as different different networks awesome yeah so um yeah what","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=201s"},{"start_seconds":210,"text":"about your F maybe we can touch deeper into the technical standpoint because you like you do have background I mean before I even go technical in web 3","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=210s"},{"start_seconds":219,"text":"maybe we should talk about user experience around um how things are in web 2 and if we want to be better than web 2 we","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=219s"},{"start_seconds":226,"text":"should probably transcend The web2 Experience right now if you send an email from Gmail you can get from your Microsoft account right so why can't we","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=226s"},{"start_seconds":234,"text":"just replicate the same thing in web 3 um and chain abstraction movement is kind of what we're try to do um to kind","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=234s"},{"start_seconds":241,"text":"of transcend that user experience where it doesn't matter where your assets live it doesn't matter what application is","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=241s"},{"start_seconds":249,"text":"what it matters is the experience and building these Technologies and infrastructure to kind of give that user","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=249s"},{"start_seconds":256,"text":"experience to the user is what the chain abstructure movement is doesn't matter where your assets is assets are or where","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=256s"},{"start_seconds":263,"text":"your data lives as long as you can use all these apps um in an abstracted way and if you want to go technically deeper","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=263s"},{"start_seconds":272,"text":"yeah yeah um so the idea is that um NE protocol will and right now is","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=272s"},{"start_seconds":279,"text":"hosting a multi party computation Network that um can act on users behalf","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=279s"},{"start_seconds":288,"text":"without actually keeping the shares of the private keys and sign transactions um and send to the other chains which means that you can just","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=288s"},{"start_seconds":296,"text":"have one account on your your protocol that would allow you to use m mle chains which means that at the end of the day with actually building on top of it","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=296s"},{"start_seconds":305,"text":"these multi-chain gas layers eventually being an intent relayer it doesn't matter where your assets are it just matters where you want to send your","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=305s"},{"start_seconds":312,"text":"transaction to not even a transaction depends on what you want to do as a as an intent um so that's what we're trying to enable with the infrastructure that","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=312s"},{"start_seconds":320,"text":"we're building right awesome so I think like everything's boiled down to the user experience like we do care about our users like like Jeff Bas said we need to","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=320s"},{"start_seconds":328,"text":"have a what is what's the word like customers obsessions like we need to obsess with our users on how we can kind","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=328s"},{"start_seconds":335,"text":"of like um give them the best experience that they ever had so let's move on to the next question what's your take on","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=335s"},{"start_seconds":343,"text":"scaling Bitcoin like this is the this is the this is our like like panel uh title so scaling Bitcoin what is kind of like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=343s"},{"start_seconds":351,"text":"The Good the Bad and the Ugly thing that you guys kind of like have in your mind when we talk about scaling Bitcoins you know let's start from bone first okay","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=351s"},{"start_seconds":360,"text":"um so I think networks like Bitcoins um um are pretty much are like um quite","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=360s"},{"start_seconds":367,"text":"unta Market in in um in in the crypto Market of War um you see um smart","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=367s"},{"start_seconds":373,"text":"contracts started growing like um and getting real adoptions starting from like ethereum and lots of like ethereum","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=373s"},{"start_seconds":379,"text":"leer toos um but there's like um Bitcoin like probably started this year people realized that there's actually like one","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=379s"},{"start_seconds":388,"text":"um more than one trillion of assets sitting on bitcoin networks um that's underutilized right and um if you really just build a very SM very simple smart","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=388s"},{"start_seconds":397,"text":"contract uh or like very simple like side chains that um enable um Bitcoin transfers at a cheaper cost and also","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=397s"},{"start_seconds":404,"text":"bring more utilities to do those idle Bitcoin assets um people use them right you can see lots of like Bitcoin l2s","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=404s"},{"start_seconds":412,"text":"coming up and with very nent technology they can like attract billions of of TVs right so um I think um this this Market","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=412s"},{"start_seconds":421,"text":"is pretty much like looking forward like um various ways to um bring more utility and bring more adoptions and um enable","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=421s"},{"start_seconds":430,"text":"like Bitcoins in in um into more of a like Financial systems um um in in the","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=430s"},{"start_seconds":436,"text":"crypto Market um and um well what the what again then there's","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=436s"},{"start_seconds":446,"text":"various approaches right um I think um if we really look at some of the Bitcoin","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=446s"},{"start_seconds":454,"text":"l2s um some of the funds are not actually like directly depositing into the smart contracts um but like sitting","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=454s"},{"start_seconds":463,"text":"on the custodial accounts um and those custodial accounts like this um various Bitcoin Network l2s just wi list those","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=463s"},{"start_seconds":472,"text":"addresses right and they consider to be like asset deposit into the network and in turn they mirror sum of assets and uh","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=472s"},{"start_seconds":479,"text":"which consider points like in in the in their in the um Bitcoin l2s and um and then enable like those mirror assets of","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=479s"},{"start_seconds":487,"text":"Bitcoin assets like to be used on those like Bitcoin L2 and like I I think it's not ideal in terms of like security","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=487s"},{"start_seconds":494,"text":"security level um I think what chain abstraction essentially does is like um removes one of the ways of like um","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=494s"},{"start_seconds":502,"text":"locking assets and also um bridging like the necessity of bridging assets from one network um and to another is it's a","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=502s"},{"start_seconds":511,"text":"direct signing of um transactions that's probably going to improve on the security level a little bit and um and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=511s"},{"start_seconds":519,"text":"um and the possibility is a little bit more as well right you see that um even like I don't know um there there's a","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=519s"},{"start_seconds":528,"text":"few uh participant in markets trying to like working on Multi chain and and tap into Bitcoin like um th chain z um chain","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=528s"},{"start_seconds":537,"text":"flip and Etc um I'm not sure like many people know that um th chain actually does about maybe","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=537s"},{"start_seconds":545,"text":"like around 0.5% to like 1% of the total Bitcoin um trading volumes um in into","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=545s"},{"start_seconds":552,"text":"this market right and that shows that the market has this decent interest and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=552s"},{"start_seconds":558,"text":"um and um yeah well um I think chain abstractions um compared to Tor chain","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=558s"},{"start_seconds":565,"text":"and others um it's um this scalability of the systems by um having one account controls many accounts and those um each","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=565s"},{"start_seconds":574,"text":"individual accounts can become a smart contract and we can build um infrastructure and defi instruments on top um unlocks more possibilities than","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=574s"},{"start_seconds":583,"text":"the some of the current existing Solutions so um um yeah I personally I'm quite bullish um but in the end we going","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=583s"},{"start_seconds":591,"text":"to come down to our um user experience um so user experience is going to be be the key um yeah I'm looking very much","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=591s"},{"start_seconds":598,"text":"looking forward like it else how um Bitcoin well how chain struction will be used on scaling Bitcoin and and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=598s"},{"start_seconds":605,"text":"potentially unlocking more of a assets on various other like nonpar contract chains as well awesome so yeah I think","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=605s"},{"start_seconds":613,"text":"um well you mentioned like security like like obviously if you take a deeper look at what near is C building with genr I believe like the security wise it is a","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=613s"},{"start_seconds":621,"text":"lot better compared to this like bridess multi that is owned by several people several companies","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=621s"},{"start_seconds":629,"text":"but yeah let's you know let's see what uh what fats get for you know for for the scaling Bitcoin like maybe you can","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=629s"},{"start_seconds":637,"text":"also touch uh into the technical standpoint as well yeah I'm not I'm not really a Bitcoin expert but I can try um so I'm going to probably Echo what Bowen","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=637s"},{"start_seconds":645,"text":"has been saying um there's mult in the in in the last year or two Bitcoin Bops","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=645s"},{"start_seconds":652,"text":"or Bitcoin l2s has been um coming into play to be to be completely honest like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=652s"},{"start_seconds":659,"text":"Bitcoin is the most decentralized asset that we have in the world right now so it makes sense to to kind of Base the security of your system on that how you","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=659s"},{"start_seconds":668,"text":"do it it kind of depends um there like you said there's multi contracts multi","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=668s"},{"start_seconds":675,"text":"l2s which is not great there's side chains which is okay you have to bridge your asset then you have to WP it and there's rollups that are coming in which","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=675s"},{"start_seconds":683,"text":"I think are very interesting um but still it's in development how we're trying to approach this chain chain so that's the kind of like the good part is","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=683s"},{"start_seconds":692,"text":"that it's very decentralized right so we should probably tap into also that that part of Bitcoin using its security to create systems on top of it the the Y","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=692s"},{"start_seconds":700,"text":"the bad is wrapped assets not not so great um bridging experience is not so great finality is 10 minutes it's not so","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=700s"},{"start_seconds":707,"text":"great to to do any execution in a meaningful time um the ugly I would say","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=707s"},{"start_seconds":714,"text":"is we're still in in this space where not everything is defined yet um we don't know how to exactly use it because it's not exe like you cannot execute","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=714s"},{"start_seconds":723,"text":"something on directly on bitcoin because you cannot run Spa contracts right um how we're trying to Sol this with chain abstraction","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=723s"},{"start_seconds":731,"text":"is at near side at least um providing an execution layer um for Bitcoin defi","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=731s"},{"start_seconds":740,"text":"Primitives where you can hold and hold a Bitcoin asset through chain signatures and then write the smart contract on on","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=740s"},{"start_seconds":748,"text":"near in Rust in JavaScript whatever you want to use and then um swap the assets based on a certain um business logic","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=748s"},{"start_seconds":758,"text":"which is very powerful when you think about it because you don't even have to interact with the with Bitcoin itself it's just account swapping it's ke","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=758s"},{"start_seconds":765,"text":"swapping up the keys which I think David's going to talk um later during the day um which is a very very powerful primitive right because you have instant","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=765s"},{"start_seconds":773,"text":"finality not instant but finality of near chain which is around um three blocks","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=773s"},{"start_seconds":780,"text":"um which is something that we haven't seen in any other chain as far as I know uh which is very exciting to me and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=780s"},{"start_seconds":788,"text":"should be very exciting for the builders too because then that opens up a whole new space for these um execution lists","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=788s"},{"start_seconds":797,"text":"l1s um that they can use near multiparty computation to even swap two different","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=797s"},{"start_seconds":805,"text":"um executions L1 assets which is czy crazy if you think about it um and something that hasn't been","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=805s"},{"start_seconds":813,"text":"really into play until now so I think that is something that I'm very much looking forward to awesome so yeah I","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=813s"},{"start_seconds":820,"text":"think you know like just want to like touch uh some point of real like the experience that chain obstruction is","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=820s"},{"start_seconds":828,"text":"going to like provide to the end user is going to be like very different compared to what we have right now so like it's going to be very experimental like the","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=828s"},{"start_seconds":836,"text":"user Journey will be very much different in which like I don't know if the Crypton native would you know would probably likes or not but overall like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=836s"},{"start_seconds":844,"text":"the end users is kind of like like sorry the master users kind of like the the end goals here to make sure that they can onboard this user so I don't think like new Jour is like they haven't even","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=844s"},{"start_seconds":853,"text":"been in crypto so that's kind of like the Target that we probably going to uh focus on the next question is","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=853s"},{"start_seconds":861,"text":"it's so like how chain obstruction would and should be implemented so there's going to be like like I mentioned earlier going to be like a lot of","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=861s"},{"start_seconds":869,"text":"Journeys like from you know from your perspective how it should be implemented so it's going to be on the app level is it going to be on the wallet level","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=869s"},{"start_seconds":877,"text":"protocol level like bridge bridgeless what's kind of like the best experience that you guys might think about on how","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=877s"},{"start_seconds":885,"text":"we can implement it old layers has old layers the all the layers that you talk about yeah yeah play into the chain","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=885s"},{"start_seconds":892,"text":"abstra yeah like yeah yeah let's let's yeah I can I can maybe start um so right now what we're building on","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=892s"},{"start_seconds":900,"text":"near protocol side is pretty much using protocol um it's not specifically on protocol but we will be introducing new","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=900s"},{"start_seconds":909,"text":"protocol features to to enable chain abstraction right so it starts from the the bottom and then as you go on top you can use Smart contracts and then you can","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=909s"},{"start_seconds":916,"text":"use maybe multi-chain indexers and on top of that you use multi-chain wallets to give the user the the experience that","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=916s"},{"start_seconds":925,"text":"they're only using one system while they're using multiple systems under NE to control multiple Assets in multiple places um the the part that we should be","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=925s"},{"start_seconds":934,"text":"also looking into is how do we do this trustless right um that's where the bridges come into play or like cines come into play you need to have some","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=934s"},{"start_seconds":942,"text":"kind of a proof that something happened on the other side um on near to either","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=942s"},{"start_seconds":948,"text":"unlock um assets or to to to execute some logic so everything all the way","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=948s"},{"start_seconds":955,"text":"from protocol up until applications on the wallet is part chain exraction yeah maybe like just want to touch a little bit about a light CLI for","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=955s"},{"start_seconds":963,"text":"example do you like do you think like the light CLI is going to be on the protocal level there's going to be like a lot of light clients like for example","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=963s"},{"start_seconds":969,"text":"ICP ICP did have Bitcoin indexes running on top of the ICP as a smart contracts do you think that's something that near","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=969s"},{"start_seconds":978,"text":"protocol should also do as well David can answer it he's I think he's going to talk about a little awesome yeah um but","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=978s"},{"start_seconds":986,"text":"I do I do believe that if you have if you're going to build Trust Systems and there's going to be communication between chains there has to be some kind","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=986s"},{"start_seconds":994,"text":"of a cross-chain communication Channel which could be using light cines or which could be using Bridges um I don't","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=994s"},{"start_seconds":1002,"text":"know what how exactly ICP used to do it as I said David can talk to it more than I do um but yes awesome so yeah what","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1002s"},{"start_seconds":1011,"text":"about you B um yeah AG agree with fat um but I think I'm I'm","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1011s"},{"start_seconds":1020,"text":"more ke on leaning towards um seeing potential some of the like great Innovations on the app","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1020s"},{"start_seconds":1029,"text":"level um like um like we just talk about like defa applications and what we call","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1029s"},{"start_seconds":1036,"text":"like um defa apps like um most of the defa applications right now in today's market uh it's really just like one","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1036s"},{"start_seconds":1044,"text":"front end lay calling very simple smart contract and serving ones like or or several specific um um focuses of a","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1044s"},{"start_seconds":1052,"text":"function course on on the bank end right and um and and if we like um um mirror","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1052s"},{"start_seconds":1061,"text":"that user experience in in in the real world when you interact with like Financial um um like even like brokerage","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1061s"},{"start_seconds":1069,"text":"systems like there's usually just one platform or like any of like Bank transfers and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1069s"},{"start_seconds":1077,"text":"things all right Bank systems there's one system one applications that interact with and and shows you various","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1077s"},{"start_seconds":1085,"text":"um Financial Services um and allow you to seamlessly to access various um functions or or services like without","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1085s"},{"start_seconds":1093,"text":"knowing the terms of like Bridge like transferring assets between different accounts just as a transfer it's not","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1093s"},{"start_seconds":1100,"text":"like Bridge right and and also buying a stock on like um hon um index or buying","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1100s"},{"start_seconds":1107,"text":"a stock on like um NASDAQ or or nework exchange they they you don't need to know this stock is actually listed on","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1107s"},{"start_seconds":1116,"text":"somewhere you just know that I'm buying a stock of a company right so um I think","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1116s"},{"start_seconds":1123,"text":"um with the enabling of um chain abstractions and um and even like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1123s"},{"start_seconds":1131,"text":"blockchain operating system there's various ways that you can try to restructure um today's fine user","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1131s"},{"start_seconds":1139,"text":"experience or really just like retail facing user experience redesign it think about how you can with the possibilities","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1139s"},{"start_seconds":1148,"text":"um unlocks with chain rection and and um with on the back end and also chain um blockchain operating system on the front end with the composability and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1148s"},{"start_seconds":1156,"text":"everything um how you want to redesign nap today that serves for the interest","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1156s"},{"start_seconds":1163,"text":"of to welcome new more newcomers um into the market um with more of a familiar um user interface and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1163s"},{"start_seconds":1172,"text":"user Journey that you want to craft for them right and um another perspective is","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1172s"},{"start_seconds":1179,"text":"like um I think well I'm a def5 farmer right and um I think right now in","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1179s"},{"start_seconds":1188,"text":"today's world especially on this area different leer toos uh many of the L to is just coming out um in my perspective","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1188s"},{"start_seconds":1197,"text":"more for like valuation purposes right there's no needs for like 100 layer tools in the","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1197s"},{"start_seconds":1206,"text":"market coexisting the market the ideally I think um this there sometime there's","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1206s"},{"start_seconds":1212,"text":"out to be a battle and um and each of the L to that um will will stay remain","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1212s"},{"start_seconds":1219,"text":"standing will probably like um craft their own business identity and um um","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1219s"},{"start_seconds":1225,"text":"unique business use cases that's um um that users remember them for specific","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1225s"},{"start_seconds":1233,"text":"purpose later TOS right and um if that happens um","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1233s"},{"start_seconds":1241,"text":"like with chain abstraction really just like need to have one account on a that can um","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1241s"},{"start_seconds":1250,"text":"basically interact with all this um specific purpose whether to be like app chains or like ethereum leus or even like Bitcoin xrps","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1250s"},{"start_seconds":1259,"text":"um um trying to tap um um navigate users um for what they need and on the back","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1259s"},{"start_seconds":1266,"text":"end you already sorted out and um it just allow users to access the financial services that they want without knowing","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1266s"},{"start_seconds":1273,"text":"well I'm going to optimism for that um I'm going like um like I don't know oportune for","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1273s"},{"start_seconds":1280,"text":"that yes so app lb right yeah so I think like again like it's like we need to kind of like what welcome these new","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1280s"},{"start_seconds":1289,"text":"users from like the non crypto space to kind of like jump in the cryptos and you know F the wonderful world of web three","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1289s"},{"start_seconds":1297,"text":"I guess um and let's move on like this going to be like the last questions so what can we expect from Chan obstruction that you","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1297s"},{"start_seconds":1306,"text":"guys are utilizing like for example B once you you you're focusing on depd some second and maybe there's something","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1306s"},{"start_seconds":1313,"text":"there some share some Alpha with us also figure out what you know what are things that we can expect you know from the Koda like is there any kind of like new","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1313s"},{"start_seconds":1320,"text":"protocol stuff how about Securities and whatnot so you know please do share like what can you expect from you know from your products and also chain","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1320s"},{"start_seconds":1329,"text":"obstructions sure um yeah well um I think from my perspective I I'm just a business person marketing person um uh","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1329s"},{"start_seconds":1337,"text":"more focus on what users well ultimately actually like the products that reach out to the users um um that users will","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1337s"},{"start_seconds":1344,"text":"be interacting with um so with chain obstruction like um the the term abstracting is very like um um essential","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1344s"},{"start_seconds":1352,"text":"here so I like ideally with the like with with the chain instraction technology we can abstract away many of","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1352s"},{"start_seconds":1359,"text":"the unnecessary user steps whether to be like like that that what we do whether they're doing on the front end or like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1359s"},{"start_seconds":1366,"text":"um um like explode um trying to tap into Bitcoin Latos and others um like even like ones that um we're using to unlock","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1366s"},{"start_seconds":1374,"text":"I think proximity we're doing some demos on or some like hacking around the dogecoins Doge yeah so um bring like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1374s"},{"start_seconds":1382,"text":"smart content ability on dogecoins um like the first layer is um trying to make it fun and make more assets more","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1382s"},{"start_seconds":1390,"text":"accessible to the users as as a first point and second point is um with these accessibilities of all these assets and","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1390s"},{"start_seconds":1397,"text":"um try to reutilize some of the idol Assets in the market and bring some of the financial values and really focus on the user experience and actually","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1397s"},{"start_seconds":1405,"text":"focusing on abstracting away many of the users steps um that's not needed um","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1405s"},{"start_seconds":1413,"text":"yes all right thank you so much one so uh what about you if yeah so pagota has been working on multiple chain","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1413s"},{"start_seconds":1421,"text":"abstraction products until now um the first one was the decentralized font ends which powers that de um that's","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1421s"},{"start_seconds":1431,"text":"still ongoing um Charles is here he's leading the that initiative he's I think you guys are going to be releasing the","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1431s"},{"start_seconds":1439,"text":"V2 of the um VM very soon that's that's one the other one is what David is working on is chain chain signatures","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1439s"},{"start_seconds":1447,"text":"which what we've been talking about and how you're building your product right now on um on top of that we're also","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1447s"},{"start_seconds":1454,"text":"trying to abstract the gas part of it so like if I have an account on near and I only have near if I want to do something","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1454s"},{"start_seconds":1462,"text":"ethereum how does that work and I'm going to give a talk about it today if you guys want to listen to it um how we're trying to solve it uh on top of","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1462s"},{"start_seconds":1469,"text":"that there's even more to it um I have five near um I want to buy a nft on some","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1469s"},{"start_seconds":1477,"text":"Marketplace how does that work um these are something that has been going on an is working on there's cap framework it's intent Rel layers and how that works","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1477s"},{"start_seconds":1486,"text":"that's something that we've been working on right now um let me think what else um we've been also working on data","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1486s"},{"start_seconds":1493,"text":"availability layer which is reducing the costs for um ethereum l2s because there's a lot of block space requirements for the l2s that is also","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1493s"},{"start_seconds":1502,"text":"working towards chain obstruction um idea where the users shouldn't really care about um how much one layer two cost it should be probably abstracted","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1502s"},{"start_seconds":1511,"text":"and should go to zero at some point for the users um those are the products that we've been working on and we're going to still be pushing um and we built very","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1511s"},{"start_seconds":1519,"text":"bullish from chain of Direction um yeah well maybe just a special like some shout shout out to the da da team um what what what they are working on just","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1519s"},{"start_seconds":1527,"text":"some leaks um what um they are um the position of DD is trying to be the universal um single entry point into all","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1527s"},{"start_seconds":1534,"text":"Ean layer TOS right so they're working with all layer TOS in the market um and one of the things is like with polygon","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1534s"},{"start_seconds":1541,"text":"cdk chain stack and also op stack and alrum stacks um like the stacks all have familiar um TX stacks and um there","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1541s"},{"start_seconds":1549,"text":"really Che can be like one single entry point that tapped into the like one of the um um like stacked ecosystems so they're working with like um was poly","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1549s"},{"start_seconds":1558,"text":"more heavily on um building the single entry point into the CK ecosystems and tapping with one wallet tapping to like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1558s"},{"start_seconds":1566,"text":"um like Kanto uh X1 and also like um Asar and things and so users um and user traffic will be redirected in this","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1566s"},{"start_seconds":1574,"text":"closed ecosystems um with one single interface and single platforms um and um expanded to that like this initiative","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1574s"},{"start_seconds":1582,"text":"can be expanded to like all Leg tool um right now they have like 18 chains and 150 applications all one platform and um","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1582s"},{"start_seconds":1590,"text":"since launch um they have gained um 76 76,000 users um in 30 days so like","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1590s"},{"start_seconds":1596,"text":"pretty pretty impressive numbers right um and so yeah well um there's a lot more new","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1596s"},{"start_seconds":1606,"text":"things um um I think near um with all the developer out here um here innovate","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1606s"},{"start_seconds":1613,"text":"right uh ni has a very good um very solid fundamental Tech um in the market probably one of the best if not the best","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1613s"},{"start_seconds":1621,"text":"and all you need to do think as a developer and think as as a Founder is trying to think about how you want to how you can um interact and utilize some","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1621s"},{"start_seconds":1630,"text":"of the technology and bring into US real us experience and um I think there's a lot of like um potential and and and um","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1630s"},{"start_seconds":1639,"text":"possible ways that you can uh build your business on on top of there right great so that's that's the","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1639s"},{"start_seconds":1646,"text":"alpha guys so um so like again like B mentioned earlier like n has the best STX to onboard users","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1646s"},{"start_seconds":1654,"text":"and it's kind of like proven with like for example hot wallets they manag to onb one million users in just couple","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1654s"},{"start_seconds":1661,"text":"days dep dep 76,000 users and for us like he blue like in the last few days we've been launching this airdrop campaigns in which GA almost 20,000","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1661s"},{"start_seconds":1670,"text":"users um into near so yeah I do agree that chain obstruction is bullish it's going to be the future and think that's","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1670s"},{"start_seconds":1678,"text":"pretty much it for this panel thank you so much Bowen thank you so much fat for all the Insight that you guys gave to us","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1678s"},{"start_seconds":1685,"text":"um so yeah let's uh let's kind of let's see how the future look likes in the in the next couple months with ch","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1685s"},{"start_seconds":1692,"text":"obstruction thank you so much thank","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1692s"},{"start_seconds":1700,"text":"you","url":"https://www.youtube.com/watch?v=qIi-BcLk5AU&t=1700s"}],"youtube_url":"https://youtube.com/watch?v=qIi-BcLk5AU","url":"https://near-pedia.xyz/videos/qIi-BcLk5AU"}