Chain Signatures Mainnet Launches: Smart Contracts Can Sign Transactions on Any Blockchain

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:00

   anytime anywhere me P the cold nights catch SEC chain Technologies unfair CH Tex about to blow up it's time to testify CH if you just launched we reaching for the sky CH H the lock leading the dside he change pies his live to beide anytime anywhere me I the cold nights I catch a secet chain Technologies the game CH T about to blow up it's time to test the chain signatures launched we reaching for the sky BL chain hit un

2. 0:59

   locked Le in the dve when outside a change the future his live TR beide anytime anywhere me the C NS C your SEC chain out F Technologies un Elevate the game chain Tex about to blow up it's time to testify J if you just launched we reaching for the sky sh lock leading theide he change the hiside anytime anywhere me P the cold nights catch a secet chain out technology are the game

3. 1:56

   CH T's about to blow up this time let's fucking go chain signatures are live on m GM G GN to my friends Jo and Kendall and every single person who is watching and every single person who will watch them inevitably on Clips when it gets cut down and shoved down your throat by all of the wonderful social media channels that we behold ourselves to Joe Kendall how you doing doing great this super exciting day I think it's been if you've been in the

4. 2:51

   developer Community you've been leading up to this now for a while and you know people been building working towards it uh really exciting milestone on here for everyone yeah 100% look before we kick off right I know that you guys are like this uh somewhere west of me so maybe the us or something so it's not 5:00 where you are but it is 5 or 6 p.m.

5. 3:14

   where I am but I'm repping you guys I got myself a gigantic Budweiser and I want to share a real life tip for people let's say you're at a house party but well we're in crypto so none of us have friends but let's say you are drinking a lawn uh while you're working on some project or you're aing some meme coin and you want to have a beer but you don't have a bottle opener you can

6. 3:37

   actually use a spoon if you grasp it the right way and look at that knock it up like that it's done cheers everyone that's real Alpha right here we just end the call I think we're we're done thank you all for tuning in it's been brilli engineering what what can we expect today what's what what are we going to be talking about oh yeah well uh yeah we're going to be talking about all things chain signature so the main net is live which is super exciting uh even more exciting we have teams who are actually using it already they're

7. 4:09

   building on it and they even have some live applications so uh we're going to hear from several of them today who are going to show some demos and talk through what it is that they've been doing with uh with this Tech so uh yeah it's really about them not about me not about not about us or even about chain signat about the people building with it that's what that's what matters 100% I couldn't agree more can can you just like kind of introduce

8. 4:32

   people a little bit to like what exactly chain signatures is and what that means because I think that term gets thrown around a lot and people just aren't always clear of like exactly what our chain signatures yeah great question so the really simple and important takeway is that chain signatures enable Smart contracts to sign transactions uh so they're actually able to do this with effectively a private key now the reason that that's able to work and that that's

9. 4:55

   still able to be non-custodial is that private key is actually managed by a large set of NPC node operators so NPC is multi-party computation which basically means is that multiple different parties can each have access to some key material unique to only them that they can use to together to like kind of cooperatively sign something that then is able to be signed on behalf of this kind of private key that doesn't

10. 5:19

    exist to any of them individually but exists to them as a group and usually there's some kind of threshold Set uh where like you know five of eight nodes have to sign in order for it to be valid or you know 10 of 13 or or some some number like that uh but it basically enables like a near smart contract to communicate with this NPC Network and request some type of signature and some

11. 5:42

    type of data usually a transaction um from a from a key like a sort of unique key that only they can sign from but even they don't have access to uh and so this this gives us some really crazy functionality like smart contracts on near they can custody Bitcoin natively on bitcoin they can custody salana and they can interact with smart contracts on ethereum uh and they can you know really do anything you can do with a

12. 6:04

    private key uh but now from a programmable smart contract which is a brand new paradigm for the industry okay Kendall I I've got a few questions before we we dive right into it right and I'm going to put glasses on now so I look more intelligent than I am um so I've been scouring Twitter X sorry Elon whatever you want to call it um this whole afternoon since we announced the launch and there's been a few questions coming up can you dive into a little bit more about which CH this is

13. 6:36

    actually for because I've been saying all TM it's not all just yet right but it's going to be one day soon um I would love to know yeah that's a great question um we're saying all because it will be all soon but yes today right now at this moment uh the signature scheme that is supported is ecdsa so any blockchain that supports signatures with ecdsa is supported today the ones that are popular people are familiar with that's ethereum and every single evm based chain that's Bitcoin the majority

14. 7:07

    of of Bitcoin you know functionalities usable using ecdsa that's every Cosmos chain I'm aware of that's Aptos that's s uh that's near actually as of a few like a week or two a couple weeks ago added support that uh and that can sort of be true for uh ton and Solana because they support uh ecdsa signature very verification uh so it's not as simple you have to use a spart contract you have to use this kind of ecdsa pre-compile they have it's pretty in the weeds um but technically you could use

15. 7:39

    it for that now what is missing is EDSA or the particular subset of eddsa which is ed25519 which is actually what new's original signature scheme is so that is that is salana that is ton that is a lot of substrate chains um and and there are a few others so that support will be coming later this year um at which point every single chain that I'm at least aware of will be supported amazing just

16. 8:12

    wanted I feel I think my headline is going further and further back it must have been from the stress of launching this revolutionary Tech in the world of web 3 even though I just wrote the Twitter post I didn't I didn't actually do any of this the super smart technical stuff so on the topic of super smart technical stuff uh Kendall I know that you might have some uh slides you want to present to us but before we get on to that Joe is

17. 8:36

    there anything else the people should know uh well I mean I want to make sure I join the glasses game today I want to be left out so make sure put M on too because this is a serious business here right we're we're getting down to it uh no look I I think what's exciting about this and I know Kendall's team and a lot of team doing a lot of work is that uh we're going to show some projects that

18. 8:58

    are already built building but people can start building now it's been on tesna for a while you could have already been playing with it but from a developer perspective you can dive in and now it's on Main net to actually start going so that's super exciting and there's a little thing called the redacted coming up where maybe this might be a nice thing to mix in uh so it's a it's an exciting time for developers Everyone likes the new

19. 9:26

    technology 100% I couldn't agree more and what is wonderful to see and I'll be the first to see it I think that the ne ecosystem has in the past uh brought the bone out of the oven before it's cooked right so we said hey we've got this incredible thing it's coming you should be excited for it and then people can say well where the fuck is it but thankfully today we have the receipts

20. 9:49

    Kendall I'm just going to mute you because I was I swear to God I was going to leave because all I can hear is T tap but thank you though um anyway we uh we do on occasion um pull that bone out of the oven and then people say hey where is it and then a few months later it's actually there but today we are going to run through some incredible projects which actually have left the bun in the oven for long enough for it to be fully cooked and you whether

21. 10:12

    you're a developer a user a DJ will be able to slice it up and make a nice sandwich and eat it for your breakfast lunch and dinner uh Kendall Joe do you think we're ready for Cle slides or is that a one more minute I think that that man's doing some last minute edits for sure for sure all right Joe what what is your no sorry we're yeah we're good I just needed to connect the slides that's what uh

22. 10:46

    apparently stream stream has a different process for that than I'm used to I can't just all right he he's able to uh to work as part of the grand team that deploys chain signatures but we always struggle with the simple usable web tube products it's exactly the same for Zoom Google meet and everything but we'll get that all right so uh everyone's obviously already aware of this chain signatures are live on mainnet I'll be

23. 11:10

    very brief in this because it is about the projects but just going more into what chain signatures is and how you can use it so uh the simple thing it's threshold signatures that are controlled by near accounts and smart contracts uh we'll go through like a sequence diagram to show exactly how that works but here's like a highle diagram kind of showing some of it um it's basically for developers you can use a very simple API in order to to trigger a signature you pass in a payload you pass in a

24. 11:35

    derivation path and you pass in the signature type right now just ecdsa into this sign function call on a special smart contract on near which is V1 doer also very simple and you get a signature back uh going a little bit into more detail here so you start with a near account the near account calls that function they've got that payload that derivation path on this V uh V1 doer uh basically then you have this netork NW

25. 11:59

    work of uh NPC operators right now there are 0 of them run by professional validators who listen for this request they receive the request they each sign using their unique their unique key material they're not actually sharing any of that information those signatures are then combined into an actual complete valid signature which is then returned back to the new blockchain at this point at last that signature is then relayed to the destination fortunately for the user this looks very simple I want to do something on bitcoin

26. 12:25

    I sign using my wallet standard oper nothing new nothing different and next thing I know I move Bitcoin simple couldn't couldn't couldn't be easier for the user all all this magic is completely hidden away uh now today is the great bainet launch and a lot of these teams will be demoing so there are five that are going to be live on day one that's or or week one rather sweats bits all stake diffuse and here and we've got about 15 others building

27. 12:49

    across a wide range of different applications and use cases um all right the very uh important take away here if there's one thing you sort of take away is that chain signatures enable Smart contracts to sign transactions this is really new and different and we couldn't be more excited about what it enables as far as what that is I think there's there's a lot of categories but the three we're

28. 13:11

    seeing a lot of teams build in one chain agnostic applications two defy on bitcoin specifically although really any smart contract functionality on bitcoin and then three multi-chain account abstraction bringing all that like amazing smart contract wallet functionality that near users are very familiar with since the day one launch of near several years ago and that ethereum users are becoming more and more uh familiar with as as those

29. 13:34

    patterns get Traction in those communities now you can actually expand that that behavior to every single chain that exists uh so a couple of applications we're seeing teams work on on bitcoin was lending protocols that I think will be by far the most userfriendly Bitcoin lending protocols that exist and I stand by that statement I can't wait for people to see what some of these teams are working on uh we can finally bring some uh some real utility

30. 13:56

    and functionality to runes I think one of the things that sort of held them back is the trading experience on the Bitcoin i1 is understandably extremely limited some teams are really able to solve that and also preserve The Preserve and enhance the Bitcoin user experience uh we will finally see Pass Key wallets for Bitcoin that's something that just doesn't exist today I think btia who will actually be demoing later uh maybe not specifically about Bitcoin but they will be an early team to

31. 14:20

    support this which is really going to open up uh Bitcoin custody for a lot of people and then certainly last but not least cross-chain swaps the ability to TR any asset on any chain for Bitcoin or even for Bitcoin runes super exciting stuff um and we won't go into all these to in too much detail but on the Chain diagnostic application side you're going to see things like oracles will be able to just Deploy on near and any developer

32. 14:45

    team on any chain will be able to consume that verified price information or whatever verified data they're bringing on chain uh you'll see a lot of the AI applications that are building the near week system will now be able to interact with with a bunch of different chains I think especially interacting with Bitcoin is going to be pretty unique unque and then we'll see a ton of

33. 15:00

    cross-chain applications uh multi-chain lending multi-chain dexes multi-chain per D coins you name it we've got it uh and then last but not least on the multi multi-chain account abstraction side you know you're going to see beta uh I think it's focus on evm chains right now but they'll be able to expand to any chain sweat is doing some great work on uh B&B uh base and other chains you're going to

34. 15:22

    be able to pay your gas fees in a token like usdc for any chain or a sweatcoin you'll be able to use the sweat token as well uh and then you'll be able to bring all of that amazing account abstraction functionality like being able to change in and out your keys build out tofa patterns social recovery you name it uh we now be able to anything that's on near will be expanded to all these different chains which is which is pretty exciting uh and I won't take up any more of the great time on this live

35. 15:48

    stream and we'll let the projects kind of speak for themselves but uh super exciting day everyone uh massive congrats to pagota team for fining launch this and excited to have everyone along on the journey here amazing kendle thank you so much as always Joe is there anything you want to add before we dive into these wonderful product demos and look on these big buns no let's just dive in okay the big

36. 16:12

    buns it is all right we have first up one of the most widely used consumer crypto applications in the entire world if you have ever taken a step in your life you could have had the opportunity to be rewarded for it and uh I think more than 100 million people out there are indeed being rewarded for it as we speak org how are you doing my old friend oh we're on we're on the old mute the

37. 16:45

    classic there we go I'm so GL good to be here and thank you for such an amazing intro um I cannot be more excited about chain signatures that will hopefully bring chainless world to not just 100 million you know let's aim for a billion guys you you know why aim low aim high and I do believe that this is a probably the most important kind of technological breakthrough that in two to three years time we're going to look back and kind

38. 17:18

    of go yeah that really brought forward the age of consumer crypto and we finally started breaking down tribalism and everything else and started focusing on Amazing user experience and amazing management of assets without people even realizing what chain they're using and this is you know kind of vision of near team is absolutely unparallel and building on architectural and also technological you know

39. 17:52

    advantages that frankly cannot be replicated or can cannot be repeated by most other chains out that so I I'm absolutely pyed awesome 100 can you talk a little bit about um how exactly sweat is going to start to integrate chain signatures for for your users I you know I'm I'm not a techie so I'm gonna talk from the user perspective and whatever we build we try to make it feel like magic and I can hardly imagine another technology that is here or on

40. 18:34

    the horizon that can really create that feeling what will happen is you know you for example want to engage with let's use pancakes swap right and as a user of s wallet you tap on pancakes Swap and while pancakes swap front end opens we are checking do you have a B&B account or not if you don't have a b&v account we spin up that smart contract that Kendall was talking about we create an account for you in B&B we funded and

41. 19:10

    by the time the front end is loaded you can connect your account pancake swap without even realizing that you just put into BNB compare it with existing experience I want to go to pancak swap and then I need to figure out oh it's on B&B do I have a b&v account go create b&v account fund b&v account that's probably going to result in you spending at least 50 bucks on buying BNB to make sure that you have gas token then you're probably going to have to bridge your assets from

42. 19:43

    another chain on that account and only then you will be able to connect with pancakes Swap and start doing something all of that that probably you know can I'm I'm sure that many of us have experence exp erience this it can take between 20 minutes if you're lucky uh to half a day depending on you know what bridge you're using and how complex the solution is now it all happens in the background without you even realizing

43. 20:14

    what the hell is going on now that is Magic that is absolutely incredible and if on top of that you also bolt on one click connect cross chain so that your account on being is automatically connected by the time that front end loaded my God this is you know pure chainless world where I or millions of our users going to be able to interact with any DB on any chain they wouldn't have to think oh it's that chain do I

44. 20:47

    have an account there they'll just go and interact and do what they want to do and everything will be happening in the background it's like watching swans swim right you know they're graceful beautiful if you look under the water there is just churn and steep flying that's exactly what it's going to be on the surface it's going to be beautiful magical experience and all of that churn and Fe flying is going to be completely

45. 21:12

    automated and you wouldn't have to think about it for one single second that excites me because it can bring to us and by us I mean people who are playing in web 3 the most exciting future that I can't wait to experience where you can have one wallet across all chains where you have one key that allows you to manage assets on any chain without you having to run Excel spreadsheets one password or whatever you're using for you ke management it is an absolute nightmare

46. 21:47

    at least for me I have lost a lot of different assets that you know can I just can't recall what account and what key were those assets were on this is all past everything is going to be in one interface and you will be able to operate using just one key which means that you're going to have a lot better operational security it is a lot easier to save one key safely and securely than juggle gazillion different ones and what's even more important and Kendall

47. 22:18

    started talking about it you will be able to pay all the fees on any chain with one token which in our case you can also earn by moving your feet so in the world of sweat wallet you will pay your fees with your feet now you can do it on near only imagine that you can do it on any chain and every chain out there easier simpler removes all that rigar Ral and that nervous moment where you're going to go oh Bridge you know sass disappeared from here but they haven't

48. 22:56

    arriv there it's ABS you know I just I just can't talk enough about it and I cannot be more excited about anything else happening in the whole Space of web 3 than this amazing you brought up some wonderful points all like and I don't want to out the guy right because technically he's my boss but even Ilia he manages his fucking wallets in a spreadsheet right like because it's just it's just that many yeah we commiserated the number of times over this crap

49. 23:27

    because I just said I I I know I had you know something I I just can't recall for life of mine where on that day at that moment did I save the key to that particular account and thankfully I recovered it later but holy moly I mean that really is nasty 100% it gets you hot wring yeah I love that reaction by the way I you know some of you listening you probably seen that in February our team

50. 24:00

    just sort of gone all guns blazing and already at is Denver I've presented a first demo back then it was just B&B and we were using uh tet but then it was working and it wasn't working on the web only but we actually brought chain signatures into your mobile application I don't know guys if you have the video uh of that demo that our team beautified and it is right now just absolutely amazing and it's only 20 seconds 30

51. 24:31

    seconds uh so if there is a way to play it here it would be absolutely incredible would you care if your Bitcoin that you own sits on bitcoin chain or that Bitcoin sits on NE chain or it sits on salana chain or on D&B as long as it's secure and you know that somebody can't take it away from you why would you care in the future you won't and this is actually why I am excited about m coins because rather than Focus in on ecosystem having excitement around

52. 25:02

    chain we have started creating excitement around assets and I believe that this is the future for both next billion people and for crypto natives that's why I believe that consumer crypto is the future because next benefit that we're going to have or the next big wave that we're going to have are the consumer crypto applications that giving you full visibility of your assets and ability to control them on whatever chain they're on without even

53. 25:34

    caring everybody pause as wonderful as it is to hear you speak all and I could do it all day I have a I have a sneaking suspicion that that wasn't quite the Right video right uh no but you know what we had a Shameless plaque of Dio monik chairman of near Foundation I'm sure he's quite pleased but I have a different video we do have a correct video we do have it we've just got it um and I'm going to play it for you all right now

54. 26:38

    thank you thank you thank you catchy tune as well love it certainly a lot of Vibes both those videos so they'll take it thank you guys now um one wallet one key one token is the way we're talking about chain signatures you know kind of uh in the context desktop sweat wallet and the team is working you know kind of 247 to bring it into our app I do believe that it is not going to be uh too much Alpha but 17th of uh

55. 27:18

    September uh we're GNA have a an event right before the start of talking 2049 if you're interested to come in and tap and experience all of that working on the mobile device and not just on B&B but on other chains as well pop in come over we would be absolutely excited to see you there and guys I hope that uh Kendall you know will be able to pull you on stage and you know kind of blow people's minds as well with the all of those slides charts and you know kind of

56. 27:49

    beautiful explanation of Technology exciting stuff great slogan too that really really Nails the magic of what we're enabling here so it's one wallet one key one token and it can all start with one step there you go yes and that will make whatat you know kind a lot more valuable because it adds an incredible amount of utility because as you can imagine a lot of I I don't know your situation but I probably have about 500 bucks in gas token sitting on all different chains

57. 28:29

    because you go there minimum to buy is I don't know 30 40 50 bucks and I I I on Matic I know I probably spend about 50 cents but I have another $49.5 of Matic sitting there just because it was a minimum to buy and this is the situation on so many chains now if you can do it with one token that you buy even if you haven't walked enough to be honest it is reasonably easy to walk enough to pay all your fees on N

58. 29:01

    probably very similar on salana there are probably some chains where you're going to have to run marathon to you know kind of to have enough but one thing that we're definitely going to be doing is if you're going to be using sweat first of all you will subsidize those feed by walking second we're looking into a mechanism that you would pay less than if you paid in Native gas tokens if you use sweat so the this is

59. 29:28

    all coming this is all in development and 17th of September amazing mom's the word yes see you then uh Jo oh well I was going to catch you for more questions we had a couple of minutes left but never mind oh there he back it's the magic of technology that was a good yank I love it uh any questions that we want to throw all legs we and uh before before we move on I just that's not really a question I just wanted to kind of maybe get your

60. 30:09

    thoughts on so sweat has really been focused on obviously the user experience since the beginning and that's driven a lot of the stuff and decisions you guys have made uh how I guess how important was it that like everything can happen in the background be so fast um because I think that's the part that people maybe don't quite fully understand that like there is going to be as you said

61. 30:32

    almost probably no noticeable difference to the end user of what's happening in the background they just get to complete an action and an activity uh I can't stress this enough I absolutely love the story of uh uh Spotify uh when this guy started building Spotify they were not just focusing on ux but as you said speed of response and they said all for themselves that the song starts to play 200 milliseconds after I'm tapping on play button the speed of response is

62. 31:06

    phenomenally important not for us who've been hanging around and you know kind of familiar with 10 minute you know uh block on bitcoin but when new users come in they are not expecting that this is not something that exists in their psyche and making it lightning fast or if it it is not instant managing their expectations well so that they don't freak out they don't think that you know kind of the the app is broken or they don't have internet is absolutely

63. 31:39

    important because yeah if we don't manage expectations and don't make it instant they will go and likely not to be back for a very very long time so optimizing for Speed and amazing ux is is is exactly what we're focusing on awesome same time maybe maybe one day in the same way that Spotify stopped me from pirating songs sweat economy is going to stop me from pirating footsteps CU you

64. 32:10

    wouldn't steal a footstep but let's see let's see how you how are you pirating steps I'm really really curious because if you found a way I'm going to hunt I'm going to find you I'm going to hunt you down I'm going to steal your device and I'm going to figure out you know how you go about it I just remembered it wasn't footsteps I was downloading it was fate but it's a different thing a different topic for another day never mind that's a spice to

65. 32:43

    take I I I love your drink by the way you know great you know I I I hope it's early morning for you uh you know what it's actually 5:30 so I've got an excuse and we've worked hard all of us as an entire go to from everybody involved all it's been an absolute pleasure speaking to you I makes my day every single time uh Joe Kendall anything else to add before we move on awesome no look forward to seeing you guys at

66. 33:12

    token 259 hope you're all coming and uh thank you very much for having me have a great rest of the podcast cheers byebye thank you very much all right I outed myself there guys but here we are it doesn't matter um what happens on your live next this just this is the this is the beauty of live of live entertainment right um next up who have we got Jo Kendall a nice beautiful introduction who do we have who is next

67. 33:44

    I don't actually know oh guys defuse hello everybody it's Alex shenka here congratulations to the near prodor for launching chain signatures it's a great achievement and I would like to share this experience and this Joy of that tremendous development together with you however unfortunately today I'm not able to be here on the live stream uh but it is not going to stop me from sharing with you some information about

68. 34:17

    defuse so uh let's start with a a simple uh understanding what is the problem that we're are trying to solve so if you are going to take a look at centralized and decentralized exchanges they're delivering a little bit of a different promise centralized exchanges are a necessary tool for the crypto ecosystem however they have a major risk in centralization we've already seen several pretty bad examples for the whole crypto industry of what the centralization can mean and what it can

69. 34:55

    bring to us uh that were result in billions of dollars lost um and also because of the centralization uh centralized exchanges are very slow in adopting new changes and adopting new networks new tokens and stuff like that in general uh centralized exchanges have become some kind of a barrier for the crypto industry to grow by you know imposing this uh uh very strict rules and very

70. 35:30

    strict and often just gatekeeping um things from happening uh however the positive thing about all of this slowl uh is that centralized exchanges are convenient the user experience um for everybody who are using centralized exchanges is pretty good they are compliant which also improves the image of crypto um in front of The Regulators on the other hand side decentralized exchanges also exist and

71. 36:02

    uh they unfortunately have their own drawbacks they are limited to a single blockchain they have uh up until recently 10 times less liquidity and trade in volume um than centralized exchanges however the very positive thing about decentralized exchanges and this is exactly the reason why we're building blockchains is that they are permissionless and in case they are delivered properly they extremely robust and are able to withstand massive lows

72. 36:34

    and insane market conditions uh on the top right hand you are able to see here the chart of the Dex to centralized exchange spot Trad in volume that is provided by the block and an interesting development that we are seeing in the market that Dex trading volume starts to increase and the increase is quite a significant one and uh this the only thing that it shows is that people are willing to trade on decentralized exchanges people are willing to actually deliver or going I

73. 37:09

    use the all of the benefits of the decentralization now the great thing about the chain signatures technology that is now available on the new blockchain is that using chain signatures the positive things from both both of the approaches of the centralized and decentralized exchanges can be brought together and uh the negative pieces of it or the cons they can be eliminated and here where diffuse comes in so diffuse is a scalable multi-chain

74. 37:47

    defy infrastructure that facilitates the creation and trading of financial instruments with minimized centralization risks while unifying liquidity across crypto ecosystems this is a hell of a definition however let's uh talk a little bit about what is inside here uh literally what is saying here is that diffuse is some kind of a dab where people are able to create and trade financial instruments including tokens including Maybe some derivatives of the tokens including some Structured

75. 38:30

    Products maybe not even tokens but nfts and stuff like that and this solution unifies the liquidity across different chains and also across centralized exchanges and decentral exchanges besides that it is scalable so it is able to withstand any load that uh uh that people can produce um and as it is said here it's also works multichain and that's a pretty neat thing now in a little bit into the details of

76. 39:07

    of the diffuse as I was saying it is multi-chain and the reason why this multichain is obviously because of the chain signatures pain signatures make it available um for diffuse to an gives an ability for diffuse to connect to other networks uh besides that in order to make the fuse scalable we use the intent based architecture during which the user is producing an intent to perform a

77. 39:36

    trade and then um the solver or the active Market participant is actually filling in the intent right or um you also can think of this is that the diffuse becomes a uh kind of a platform where peer-to-peer trades are happening in between the user who wants to trade and the solver who fills in the user's intent the interesting thing about diffuse is that it is not focused only on um uh spot trading which is obviously

78. 40:10

    one of the biggest use case and this is the only thing that you're able to find right now in the diffuse Alpha version um but it actually implements the concept of account fi and what account f means is that uh people are able to trade account accounts on any networks together with all of the assets and all of the value that these accounts have accumulated and uh um we're going to dive into it a little bit uh later but

79. 40:42

    uh it means that funable tokens non-fungible tokens non-transferable assets also are able to be traded diffuses designed as a fully open protocol with anyone able to come on board develop their own financial instruments and launch them within their own front end there is no intention to centralize diffuse users of diffuse directly in in one place and the reason for this is that diffuse is kind of a

80. 41:15

    three-party marketplace where there are distribution Channels with users you can think of these distribution channels as wallets for example there are market makers and solvers that are filling in the intents of the users and the third party here is the ecosystem slf Founders SL people who are launching their financial instruments so these parties are interacting with each other Founders are willing to have an exposure through the distribution channels to the users but

81. 41:49

    they also would like to make sure that the market makers are creating the markets for these financial instruments and obviously the distribution channels would like to give would like to keep users inside of their own distribution so they are not going outside to some kind of other applications and also uh they are uh they are uh what they what they are willing to do is to make sure that there is an agreement with some of the solvers

82. 42:17

    maybe for rebates um if the distribution chooses to create the transaction to be resolved by specific solers as I said diffuse is it's in is in its Alpha stage it is available right now at diffuse toorgle what you would be able to do on defuse is to trade spot assets directly on near blockchain and in the following days you will be able to purchase assets on base and Bitcoin blockchains too so

83. 43:04

    this will be first two networks that are going to be added to diffuse in our multichain expansion um so stay tuned for the updates and U if you're watching this video uh not uh on the 8 of August uh but a little bit later uh then you would be able perhaps already try trading BTC um and base and native based assets there now let's talk a little bit about the fut the features and future

84. 43:37

    especially future features of diffuse because it is in the alpha stage um besides spot trading as I was saying what theuse is going to enable is uh the transfers of any assets at extremely low fees and super fast and the way how it is done is that uh these transfers of this assets and I'm saying this any assets any assets on any chain um these transfers are going to be performed inside of the near protocol

85. 44:08

    and there is no need to perform a transaction on the protocol where the asset is located so diffuse becomes a um very efficient um uh remittance layer for any assets in um in the crypto and the most important thing is that using only near accounts the users will be able to have the exposure to all of these assets and be able to use them uh without the need to on board to other ecosystems uh which

86. 44:44

    usually is very clunky complicated and includes lots of additional steps um the most complicated of which is obviously an ability to move the liquidity into this ecosystem as I was mentioning nft trading and uh which is pretty uh interesting piece and SBT trading is now available on diffuse so yes with the development of the Technologies like diffuse um sbts are no longer making any sense uh they

87. 45:18

    can be traded just because the account on which the SBT is located can be traded besides that non transfer verble assets they also can be traded and lended like V ecv or some other assets uh also an interesting use case is that um uh that for example just accounts that do not have the assets however they have some intrinsic value for example like the accounts that were used in the farming of an airdrop but the airdrop not yet happened these accounts now become also liquid they can

88. 45:57

    be traded and people who have been participating in the air drop are able to liquidate their position way before the air drop uh was taken in place besides on the trading obviously use cases like lending it can be developed on top of diffuse uh you can think of the multi-chain uh Financial products creation like index tokens uh you or through diffuse and through chain signatures specifically uh

89. 46:29

    users of the near blockchain and the holders of the near account will be able to access any application uh on any other chain enabling the multichain Define access uh and this is um super great so in order if you want to give if you want to have this access you able to do all of this from a single chain and uh um obviously since I'm also representing Aurora here the Aurora virtual chains our solution that uh allows anyone to launch their own blockchain together with all of the

90. 47:06

    necessary infrastructure for everyone who is choosing Aurora virtual chains as the technology as the backbone technology for their own chains diffuse is going to be available for all of you from the first block which means that you don't you w not need to build the multi chain defi infrastructure it is just going to be available to you from the first block diffuse is an open protocol as I was saying we're welcoming everyone to contribute you are able to find more

91. 47:42

    information about diffuse on our website diffuse different new types of use cases that are powered by account F available in the most secure and decentralized manner exactly in alignment with the core values of uh the blockchain vertical and the blockch blockchain community besides that we're also hiring so check out the job section on our website thanks again and uh once again big big congratulations to the near prod call for launching chain signatures this is a

92. 48:30

    great great achievement see you guys pry good right can somebody fucking tell Alex that there's more colors than white and beig you need to get a freaking interior designer in there um but look we do have a IRL person um a wonderful gentleman the head of ABS his name is Alexi uh Kendall Joe you guys are much more technical than me I would love for you um to have that conversation with Alexi Alexi perhaps

93. 49:05

    you can give us a bit of an intro first uh thank you for the intro it's my pleasure to be here um I'm the head of engineering of R Labs and I take uh part in development efforts of diffuse protocol so I'm here to answer any questions you have yeah there's a a key feature in here uh really it's about the cross chain swap since this I guess for both Kendall and Alexi we talk a little bit like what that really means to do a cross chain swap it's not a bridge so

94. 49:37

    like what exactly is happening here um so on the one hand it's not a bridge but it does uh feel and act like a bridge as well and in a sense uh Central exchanges like binance they do um in fact behave like Bridges as well so uh what is the key difference here it's intent based so that's um uh and it's open for everybody uh to be involved in these cross chains so what it opens is basically uh a Market Force

95. 50:08

    to find the best possible exchange rates across not only defi but also Central exchanges as well so you can imagine solvers being connected to multiple exchanges at the same time if there's any sort of Arbitrage opportunity there's a like cross chain uh other cross chain dexes possible dexes taxes available the Market Force will find the Optimal Solutions to the users and present it to them so that's the main

96. 50:39

    difference uh or the main benefit of diffuse this optimization that's um sort of are always evolving always find trying to find the best way forward for the users yeah super exciting I mean I think it's going to uh you know well primarily improve upon pricing that users can get especially between chains um if you can maybe like walk through kind of the the user flow like what it's going to look like I'm a user I have uh let's say near and I want to get to salana and like

97. 51:11

    Soul um what that what that sort of experience is look like for me and what's kind of happening in the background there uh so it will look um identical almost identical to the normal exchange you would normally see uh on the on the internet so like the best case scenario it would feel like any Central exchange experience so you just enter uh the amount of money you would like to swap um you get the number you press the button and the magic happens behind the

98. 51:42

    scene uh you get salana uh you get a token on salana and you continue trading these tokens uh the beauty of it is all of these transactions could be happening without making any transactions on salana itself but at the same time if you in fact uh want to withdraw the money to any chains to salana for example then the withdrawal transaction could be generated and the chain signature

99. 52:08

    service could be involved to sign the relevant transaction and then you you can get um you can get the tokens to your salana account so but the normal day-to-day trading uh it will be insanely fast and like all of the transactions would be settled on the near Network yeah that point is super exciting uh and actually I gave a poor example there with near to salana but if you think like Bitcoin to ethereum that's where you start to really be able

100. 52:33

     to take advantage of the speed improvements you're not gonna have to deal with that 10 minute block time directly yeah so the speed is not the only Advantage so Alex mentioned account fi so the thing is account fi it completely breaks a lot of assumptions in the other ecosystems for example a lot of nft contracts U they charge U royalty fees or there's lot of business logic in the soulbound tokens and so on uh you will be able to make transactions for these type of assets on near without

101. 53:05

     performing any transactions on the other chains which is uh mind-blowing so nobody I think nobody really comprehends the full impact of this to the def ecosystem but it would be huge so let's say I for whatever reason we're spending my weekends farming some shitcoin air drop on whatever Chan and I had the receipts to prove it because it's on the blockchain could I then technically sell

102. 53:30

     that account via defuse if I did it with the defuse account absolutely absolutely so uh your key uh when you make transactions with a diffuse account um you don't have access to the private key so um there are special abstractions uh in diffuse protocol that basically make sure that you don't really sign anything malicious which could you know buy other people in the ass when they purchase your accounts uh but yes you will be able to trade

103. 54:02

     your account to somebody else and nobody will know the private key of it but the NPC multi party computation Network itself yeah if you could uh if you could unpack the account F kind of primitive a little bit more I think that'd be really helpful for the audience like uh you know I think the key thing is like am I understanding this correctly I think I am but is um are you actually trading the public keyy effectively rather than

104. 54:26

     than than anything else and and what are some of the implications of that um of course so an account is basically a combination of a private from the cryptographic perspective and the public key nobody knows um the private key but the owner of this private key and the Assumption everybody used to work before uh with is that uh the person who used to sign the transactions uh with their

105. 54:50

     private key they are in the possession of this key uh and the key uh it doesn't make sense to share this key if you share it like all of your assets could be stolen and this happens multiple times with receip phrases and stuff like that but with the chain obstruction primitive um it's no longer the case so the private key uh it's it's basically impossible to extract from the network so it's shared between the computers not the single

106. 55:20

     party knows what this ke is all you can do is you can sign transactions that's it uh and because of that when you hand over control over this account on year the other person can start signing the transactions and make sure that the previous owner cannot do anything else anymore so that's the account five primitive and it breaks the whole def ecosystem in my opinion in a positive way that's in a positive way the points points

107. 55:51

     ramifications are different like the points programs are going to change so down tokens are going to change a lot of these concepts are like the idea of you can't move your account one person one account is going to change and that's exciting exactly exactly it opens a new wave of innovation what I one thing that brings to mind is just that again we talk about like being able to onboard more people

108. 56:17

     to the crypto ecosystem is that this scenario feels a little bit more like what I would expect in a real world where that I am not locked in to my particular private key I'm not managing a th000 keys here right and so that whole experience where it's yeah I can actually essentially sell or trade my public key which is the same as like a like a bank account right like I can transfer my bank account to someone else and so that process really feels like

109. 56:48

     it's changing like you said the whole aspect of what defi could actually be for everyone not just the traditional crypto user I agree I agree so it benefits both the users but also uh the protocols who create new networks who create new new chains so they could easily be connected to diffuse and through this intent based uh system start trading exchanging assets on the newly launched networks which is uh truly fascinating it could

110. 57:22

     basically reduce the time to market for the new chains to two minutes so it could be out of the box experience for for a person to launch a new chain launch a token and launch liquidity uh launch trading on diffuse without a huge Capital cost of doing this so really really fascinating there's there's so much to go into here I don't even know where to like fully get fully get into all of this parts of it uh one last thing you just mentioned about like being able to

111. 57:56

     kind of bootstrap right off the bat if you're starting a new chain so and again this could be for either Alexia Kendall does where does the like Market maker model still fit into all of this in a D5 perspective if I'm instantly like being able to now swap and trade through something like the fuse um I can start answering this so um the problem like this uh exists uh for the for the chains who want to launch um like when when the chain launches

112. 58:34

     they they would like or let's say a token launches usually the founders they want to provide some sort of um a liquidity they want to start making the markets and they want to create uh basically a pair of assets uh a stable coin and the newly launched token and if they want to uh create this trading pair on a single Network um uh the capital cost is X if they want to create it on

113. 58:58

     multiple networks it's x/2 so with diffuse what they are able to do is they're able to create a trading pair for the newly launched asset or network on pretty much all the possible exch uh networks with the same um Capital cost X so they can provide the same depth of liquidity on all chains for all users at the same time so and they can also of course we will work on The Primitives to make it automatic and so on but it will be possible yeah as Alexi pointed pointed

114. 59:33

     out there very correctly it's like one of the big challenges of launching any chain is you want every single user with assets on every single chain to be able to get to your chain as smoothly and frictionlessly as possible usually that involves a bunch of different Bridges and that that ultimately takes time so we've never really seen a chain launch for all like or all of the major chains can easily bridge to that chain or get value to that chain uh on on day one or in a short period of time uh and thanks

115. 59:59

     to this type of primitive you now can basically wherever you have assets uh thanks to this primitive you'll be a you'll have some pretty slick Pathway to that new chain which is a Big Boon for for these Founders as they as they come to Market with their with their their chains in products that's incredible it's amazing Alexi thank you so much for your time one last thing before you jump off and we introduce our next guest where do people go if they want to find out more hit them with the website hit them with the socials hit

116. 1:00:31

     them with the only fans page whatever people need to know in order to learn more about duse where do they go uh go to geus.org uh you can actually uh start testing and already swapping uh assets on near chain so and the quotes and the the rates are really good better than the other exchanges so go explore thank you so much guys thank you so thanks Lexi super exciting very exciting guys just before

117. 1:01:01

     we introduce the next guest I I I've got a uh somewhat of a personal Vendetta I need to call out um I don't condone doing this don't do it if you if you are already addicted then you know try and quit it's bad be blood pressure and everything right but I'm a big fan one of many of uh nicotine pouches tobacco free now I recently called out publicly Mt from the salana ecosystem as you all know he is the uh CEO and founder of helium the decentralized wireless

118. 1:01:34

     infrastructure uh protocol um he said that he was just starting on level three or level four and now I have level fours but because I am so wired and so zoned in and I got that dog in me every single time I do two so M if you want to have a nicotine off we can have a nicotine off but we will save that until next time because it's time to introduce our next guest uh she is a wonderful person and

119. 1:02:05

     representative of allti but before that we're going to show you a quick little Snappy video uh their care study and we're going to hear from Danny ozario so over to Danny Alti is a native reaking solution that is focused on non M chains reaking is a new primitive in uh cryptoeconomic security enabling users to natively restake a wide range of assets lsts lrts LP tokens stable coins on multiple chains allti is built using a chain signatures and the near Hub is where all

120. 1:02:45

     the smart contracts live for all stake near chain abstraction is actually what is enabling us to do this very novel meshed reaking which in nail native reaking in all these alternative chains we picked near because it was the only technology that would let us do this it really is helpful that everything can be centered into these smart contracts that are inside the near Hub and the developer experiences you know far better than what they've seen before this product is for anyone who is

121. 1:03:17

     staking who is participating in a liquid staking pool whether that's linear or metap pool it's for validators who want to participate and wants to get additional yield all right that was the wonderful Danny zorio a partner at metaweb and a wonderful advisor to all stick but now we have all stick's very on anling anling unmute your mic give us an introduction and tell us what it's all

122. 1:03:56

     about hello hi everyone um W that was a really amazing video this is my first time seeing it um really good cool Productions um yeah so thanks to Danny our great advisers um I'm super exciting to be here today we'll talk about like um how all Stak can support near um ch um signatures uh first let me share my screen can you guys see it perfect okay perfect okay so um as Danny mentioned that all stake is a a mash

123. 1:04:38

     rest staking platforms that we allow user to restake their native tokens on their um Native chance right um we support like LS lrts LP tokens stable coins um you know on multiple chins like me here um salana Bitcoin ethereum and more in the future so um some of the highlights um so first is we are mashy scking so that means users do not need to um do any bridging uh when they want to restate

124. 1:05:13

     their tokens and then the second is more efficient so it's actually reduced the overall cost of security and then most importantly is we're using the chain signatures um you know to facilitate the cross inability and also we are supporting now smart contract chain such as BTC Dodge um xrps and um here is a demonstration of the alc Hub so um the core component ALC is the atic Hub um which is like a for of aen layer um but built on near

125. 1:05:54

     protocols so we manage all the avss um operators users taking datas um and like for operators they can register different EVS on year and receive delegations from different CH and then for um Bitcoins we allow users to restate BTC on all stake um via addresses control by Chain signatures um here's the example of um the cross chain Communications and uh between near and salanas um so to make sure the AVS can utilize all the

126. 1:06:33

     delegation data to calculate operator seeds um rewards slashes and we synchronize operators um delegator delegation datas to alub uh via L clients and other uh methods such as um worm hair um here are some um highlight so all staks so first we avoid the single Asset Risk um which by um we use the multi asset rakings so um you know uh we use ebdc here um for security and then res reduce the risk um and increase the St uh stability um and then second is enhanced

127. 1:07:20

     cross chain comp um composability so by enable each chain to gener its own dis trust we allow users to on each chance to help secure the ABS and then also is the um the third is the state uh sustainable toomics so um The Challenge right now is that traditional schemes assume AVS can generate enough profit um or they maintain inter stability but our solution is that we boost earnings by staking EVS tokens um issue incentives AC crosss with standardized conditions

128. 1:07:57

     and then lastly is the validator diversification so by attracting validator from multiple chance to uh we enhance the decentralization and resilience um for the use cases so the first use cases case is the cross Bridge so um we use cross bridge to secure by each chance um a connect this is especially beneficial for n asset cross chain Bridges which requires multi Assa liquidity and then the second is Shar sequencers so Shar sequencer that serve

129. 1:08:36

     different chins and environment can get and parallel security from allti and then um the third one is the decentralized intense Sovereign um networks so the near trans signature solution um combined with the decentralized inant solver Network will create a highly secured and userfriendly chain abstraction um infrastructure which drives Mass adoption for web three users and making easy and safe for anyone to interact with the all the the

130. 1:09:11

     apps and then lastly is the only chin exchanges so if for offchain other books that receive deposit from multiple chance um it can decentralize their infrastructure by using atic to channel security from the chin um that they Ser um in terms of the timelines right now we are on stage zero um we are the deposit stick of near salana um already the lscs are already live um and then similar to um AG that also provides the middleware and SD case to make it

131. 1:09:52

     more easy to build a St King Sling model for the decentralized NPC um Network so um the Delo will be ready around mid August and then we'll be finishing auditing and um of near uh sorry not the All State Hub and then um also the middleware by the end of August so we have an amazing team um um we are a team cons um consistent of um like core contributor from Top chin like near and El also some of the you know

132. 1:10:33

     top D5 protocols um and large um TCH companies and we also have an incredible lineup of advisors and partners um Elia is our investors Tina ex um product uh had a product at EG she's also a adviser and Danny um partner at met web she's also advisor and the huge supporters supporter um so right now um I'll is live um in the video I think she already shared about um how it works um I'll just give a quick demo of the

133. 1:11:16

     website and then um so this is our website all.org uh right now as I said the pH zero live you can go to launch app page okay so um you can go to our D app and then deposit whether um you know LSC on nearly near near um or um you know lscs on salana M Jos Etc um you know to get the rewards um and also to the points uh yeah that's it amazing and thank you so much um look I'm sure there's a ton of questions plenty to discuss Kendall Joe is there

134. 1:12:11

     anything you want to dive into in regards to ig how those guys are using Chan signatures um and what it means yeah I think one of the really cool things you pointed out there anling is that uh that you guys can thanks to chain signatures uh let users restake assets like Bitcoin that they wouldn't be able to using other reaking Solutions I'm curious kind of like what other uh what other assets you guys think are interesting that uh just won't really be available uh via something that

135. 1:12:42

     something that isn't all stake effectively um I see so right now we're supporting BDC right we're working with solve protocols um as like they're the largest um BTC right now and then we are also um talking to Tom um as they are also they are also like pretty um active right now so you know by doing this we can actually um more efficiently using these asset and secure the network super exciting yeah I think ton

136. 1:13:23

     is going to unlock a lot of uh a lot of excitement and utility for a lot of users right yeah especially on the game and social side yes especially very like um popular like especially among like the Asian market right now like a lot of excit like very playable games are building on town right now yeah absolutely huge user base cool I'm looking forward to seeing the the rest of the the timeline coming to fruition you know there's definitely a lot there that is just you know I think probably a way to better leverage

137. 1:14:03

     underutilized tokens and obviously Stu that you know and then I think the reaking part of it's going to be uh pretty pretty massive change to different options that are out there but no this this is a great uh great Next Step a great use of chain sign so exciting to see you go live okay thank you J family it's been uh nothing less than a pleasure thank you very very much we would love to stay and talk all day but we do have a couple more uh equally

138. 1:14:34

     wonderful projects that we need to get through um if you do have any questions about any of the projects about where I got my tracksuit from about my receding hairline about candle jaw anybody anything near chin signatures or otherwise go ahead and throw them in the comments on YouTube or on Twitter and we will get around to them my question now though Joe Kendall how do you say please in German I have no idea Joe you I believe

139. 1:15:09

     it's a bit isn't it it isely and that is the name of the next project uh that is coming up onto your screens right now folks it is my privilege to welcome the wonderful net gear uh the Portugal Beast Surfer extraordinaire with the now coolest tattoo I've ever seen Dawning his forarm there you go um talk all about AI agents everything bitter and chain signatures and more n how you doing oh I could be better I actually

140. 1:15:45

     just quit my my nicotine regime uh three days ago so I'm in I'm in the heat of it I I got sucked into vaping for the last six months and boy what a what a stupid thing to do yeah it's a tough one right yeah but excited to show the uh show all things cross chain signatures so off we go speak of nicotine if you uh if you are interested there are these nicotine pouches available to purchase you can find the link in my bio um I get slight coton and everything you buy um FYI uh

141. 1:16:15

     but anyway let's go back to the topic at hand chain signatures um tell us everything about it give us an introduction who you are what you do and about all things B sweet we've got a we've got a demo as well uh yeah B bin it's the the German word for please uh somehow we secured bits. you can go to it and check it out uh the main theory is uh please AI build and execute this transaction for me uh please because the Germans if you go to Germany they say

142. 1:16:46

     please all the time please please please please please so it's uh we built the company in 2018 uh starting in in Berlin so it and I also have a German wife and co-founder so it's uh f is is uh strong with with the system so should I jump in and show you all the things let's do it I can't think of a b time all right I'm gonna go super quick we're like What 10 minutes for this as long as you need my friend as long as you need 10 minutes sounds good

143. 1:17:20

     cool all right so chain abstraction uh We've been cranking on this for quite some time uh somehow we magically built a wallet so you might have known us as mint base uh we do a lot of nft stuff uh we built a wallet specifically because no other wallet allowed us to do the activations we wanted to do whether it was ticketing or whatever it is we were doing so we leveraged uh near chain abstraction to build an epic wallet which means you can create a private key

144. 1:17:50

     store it into your pass key without needing seed phrases uh and you can create accounts and you can sponsor transactions so those transactions could be free so we took it one step further uh we white labeled this thing uh so we did a launch with ICC where normal users were able to come in and uh create sort of a reward mechanism uh and now we can white label anyone's stuff so now that we have this sort of Base um we saw the Natural Evolution uh for chain

145. 1:18:22

     abstraction to come into play so that now gives us access to all the different groups whether it's Bas nosis chain um Arbitron we have all these signatures ready to go uh they're not ready to go today near just went to main net yesterday or today and so we're going to give it a week for us to process but here you can see a uh signed transaction using a near account uh to go to my

146. 1:18:48

     little metamask we just sent it to this uh ending in 275 you can see the account is 1.2 eight uh and if you want you can see this transaction was made today on spolia testnet uh and so let's see if it incrementally see it just went to 130 that's that's epic so now we can actually go into test net. wallet. pit.

147. 1:19:13

     not only do we have uh eth on sapoia but you can also have other stable coins like uh UCSD die and cow swap uh and it's just going to embed directly into the wallet as as seamless as the rest you can go into your uh account settings and you'll have your eth address that will correspond to all the different pieces so now that we have that sort of Base figured out we can start doing other crazy things on day one so with wallet connect that's in the the

148. 1:19:44

     near-term road map you'll be able to buy nfts uh directly connecting to wallet connect on the the beta wallet um if you haven't used that interface yet I would highly suggest messing around and so where this is also heading is we have our uh AI mechanism built in now as well so we did our ref AI agent where you're able to swap three near for usdt uh using human readable conversation so all this does is really builds a transaction

149. 1:20:16

     for you and then you can hit sign and execute um this is getting better as the days go go on uh and that's pretty pretty unique not only can you do this but we can do other mechanisms like let's crank this up to two so not only can we do defy swaps uh of course we can do all things on mint base which is uh generate images uh using Dolly and mint on near so where does this go with cross chain obviously cross chain is just a built transaction

150. 1:20:51

     uh and with AI we're able to build all of these trans transactions just from normal conversation uh if you go into chat TBT today you can actually already say what nfts are for sale on openc without needing a plugin um and you can see we're generating the images uh and off we go so today the uh agent Marketplace that we have we have uh integrated Dolly uh rev Finance for defi swaps we just integrated uh a created a coin gecko um uh AI agent and potluck has also

151. 1:21:26

     integrated along with Astro Dow where you can see this heading is just having conversations like put up a vote for this can I see the votes for that uh and with cross chain not only do we can we do these amazing things within the near ecosystem which is a great sort of testing ground uh I would say but then being able to create you know Unis swap agents the same as uh difficulty as us building the ref agent which I think took us about two and a half weeks of

152. 1:21:55

     two developers cranking on it uh I think we're going to get into a new Green Field where we can just really make the charge so we don't want to build these agents we want uh to kind of focus on the reporting mechanisms uh imagine going into potluck and being able to do all the filtering and sorting and see all the graphs uh and charts and make these super pretty and when you're executing the transactions making sure that that's incredibly uh safe what

153. 1:22:20

     you're doing that's what we want to focus on that's why we're launching the playground where where you can come in uh to templates. bit. you can go to the defi swap AI assistant you can Fork it deploy it and you can upload that into our our playground and play with it without needing to integrate it into the main system uh so that you can refine it and see how it goes so the way the architecture is going to work is you're

154. 1:22:45

     going to be able to select different agents that you want to work with let's say metap pool uh wants to have people vote on a dow and having that connect with maybe ref Finance if they need to swap tokens to get the metap pooled token you can actually you'll be able to share links that have these two pegged agents attached to it to make those conversations happen um so again go to

155. 1:23:08

     our docs. bit. go to agent plug-in uh and you can Fork the AI agent today and start interacting with it uh just by following the guideline it should take less than 10 minutes if you're super fast uh we also have uh stripe partnership that we've had for quite some time we got accepted into the uh crypto uh onramp program uh which means that once we create these eth accounts base accounts Soul madic BTC Avalanche and so on we can actually have users

156. 1:23:40

     fund these accounts directly using credit card or uh other a means um and when we start getting into that world Apple pay uh is also an easy win so very exciting this is sort of the overreaching world of where we're heading with this uh AI agents getting paid back sort of a thank you uh for helping build the transactions uh the relayer is there to allow anybody to fund a smart contract uh and basically allow free

157. 1:24:12

     transactions for those users and the whole goal is allowing people to build activations as quickly and easily as possible uh and making uh cross-chain executions uh seamless so I think that's the the heavy dirt of it and we're still here because of the sharding that's that's the main main piece I'll end it on this note so basically I remember writing this Tweet back in the day this is sort of the why still near

158. 1:24:42

     slide it said last month our claim system was terrible at for shards uh took one minute to claim might as well use eth near protocol added two more shards and just like that claims are ripping fast to me this is where this is going to start getting incredibly interesting is being able to queue up these transactions uh using the dynamic resharding uh to execute these transactions when they're needed uh this

159. 1:25:05

     is going to be the the big win okay so I would like to stop sharing now and have a conversation amazing okay well you'll be glad to know that there will be even more shards on the horizon not so far away um so exciting times good in um Kendall Joe what do you think are we gonna are we gonna throw some super difficult questions over at n about chin signatures and how he's revolutionizing the world of web 3 are we going to throw

160. 1:25:36

     in some curve balls or some easy ones there was so much Alpha in that uh those last few minutes I don't even know where to start but um yeah I think that bit is by far the closest experience I've seen to that vision of like you just have a wallet everywhere it's like a click set it up and you're and then every single device you have if you're in the Apple world or like the Android World it just there just works it's crazy I recommend everybody try it but

161. 1:26:01

     Nate I my my big question and uh because I'm I think I'm personally super excited about this is is when Bitcoin because I need a oneclick Bitcoin wallet on all my devices yeah I I'm super excited to go to our website and see seven chains light up green automatically because we can just be like evm evm evm evm and being super comfortable with those things operating at at the speed they need uh Bitcoin we've already got the

162. 1:26:27

     signatures working uh but I think really really comes down to with with Bitcoin is those 10-minute block times get get pretty painful so constantly doing pings to rpcs uh for the the Bitcoin bits might be a little challenging but uh it's it's there it's uh it's definitely part of the the process I I I got I bought my first Bitcoin in 2014 and I think I let it go when I got into e that dollar dollar three whatever it

163. 1:27:00

     was and I haven't looked back I was always like proof of stake like why would anybody want this proof of work thing know that n bought eth at a dollar3 cents so um no I just want to ask about the AI piece of this uh so like you know obviously near doing a lot of you know it's Ai and Ching just you guys are marrying everything but for when it comes to actually doing these transactions how much uh work goes into

164. 1:27:33

     that piece of it when you add a new chain so is it something where you have to go back and make sure those intents are retrained and set up a certain way how are you verifying some of that yeah the the hardest part is really the indexing problem when you go to new chains right it's oh I have to run an indexer to figure out exactly what's on open C if something's listed did someone buy it who owns this token those sort of

165. 1:27:57

     things I just thought it was incredibly fascinating that you literally can go into chatu and you can almost build a transaction just from native uh data that exists today again it's a little outdated uh like you go there and you say what what are what items are for sale on this contract and it spits out uh the the token ID the contract ID those are the only the price the only elements you need and then I think like three out of the four were correct so it gets a little difficult again a lot of

166. 1:28:26

     these things we're building aren't exactly for what works perfectly today it's we're all knowing where things are heading so I think that there's going to be a moment where indexers are almost not going to be needed anymore right someone's going to create the God indexer and then create the god agent that works with that and they're going to cost Pennies on the dollar and then they're going to get paid in bits of bits of token potentially to uh to to

167. 1:28:52

     suck all that up so it's yeah it's a fast pace uh so to answer your question building the transactions aren't hard right this is how you build a transaction you need these five elements for this you need these for that so it's it's really all about how do I get that data and how do I push that into a thing and make sure that that's correct so y amazing so we actually have a a nice beautiful little demo of Bida from about a month ago I think um it doesn't

168. 1:29:25

     leverage Chan signatures but it does show you just how easy it is to build those transactions so we are going to cut to that demo and we will see you right after it

169. 1:30:30

     hi everybody this is my apology uh there's two bit videos I believe that one did Leverage chain signatures maybe net you can take us through what just happened tell us all about it um how did you use an near account to uh interact with sepolia ethereum testnet uh I think I did that in the in the demo of the D demo but yeah I can explain it again we sent we sent eth over to the thing and then the thing got

170. 1:30:55

     money in metam mask uh Magic Hey simple as that simple as that so what you just saw there that was actually recorded I think I recorded that and I sent it to a wonderful designer that we work with to make it beautiful and that was me swapping near for usdc in a handful of seconds super easily didn't need to set up uh SE phases I didn't need to jump through a

171. 1:31:59

     thousand different hoops and my God it's a completely different experience from so many of the other web three applications that we see today so kudos to you net and the whole team and thank you for making our lives a little bit easier every single day let's go build build build all right that was the wonderful net gear everybody uh hope he's recovering from his uh nicotine withdrawals I've heard it's you know two or three days and then it starts to like calm down a bit but I don't think the itch ever goes away so he's going to

172. 1:32:31

     have to replace that with something hopefully building with Chen signatures fingers crossed okay last but not least on our um walk through the beautiful Forest that is the world of chain signatures on neara right now um these guys have actually been building with it for some time uh you probably know them if you're in the near ecosystem if you're a degenerate farmer I'm sure you

173. 1:32:55

     also know them if you live on telegram then you will certainly know them um that is the here wallet team the wonderful team behind hot protocol consistently ranks uh top three I think in terms of active wallets every month in the world of web 3 you can double check that on Dy Lama um so let's uh let's hear from them let's check out that video uh hi everyone my name is Peter wov and I'm Co hot protocol and today I want to share what hot is the history of

174. 1:33:28

     hot and how hot related to new chain abstraction so H is actually product pretty similar to ninin Signature we have many shared codebase with their team and uh we launch like four months earlier but we hot protocol solving uh the same problem what near gen signature do uh this is a network of decentralized valid dator hosted by different companies and uh created to provide sign features for the smart

175. 1:34:00

     contract which work which Opera chain uh so what protocol now is live in betanet we have the first net of vol dats uh we can track the situation on the hot scan uh now they created about like 1 million plus NBC wallets over Hood protocol I will tell about this a little later and you can see in real time that like every second there is a few transaction signed where protocol uh the main difference between near uh

176. 1:34:36

     chain signature and hot protocol U is actually the problem we focus to solve so hot protocol on a core level creates aign method for smart contracts on any blockchains uh the core logic still operate on the near blockchain like payments uh very ifications the protocol setup votes everything compared on near blockchain but the API created to be multi-chain and qued to be available uh for any smart contracts uh the other big differ is

177. 1:35:07

     that the sign method is actually G free so the users can call signment unlimited amount of time without having to make transaction chain um this is two fundamental difference between hot protol nature and signature we boost back B new protocol we boost solving the sign method problem but H protocol available as API also on a base on a BNB and there will be more change soon and also hot

178. 1:35:40

     protocol during the design of um verification helps to create MPC wallets and uh other services which require quick and gas-free sign uh signing uh the MPC wallet for now is the main use case for H protocol uh because one smart contract on a on any blockchain can create like un limited amount of MPC wallet and for it and all this wallets can sign transaction um verify the ownership during the data which store it on into the smart contract but without having to spend gas to make signing and

179. 1:36:20

     uh this NPC wallets which created over protocol now there are more than um 1,200,000 wallets created uh and this wallet has replaceable seat phrase they also have two fa they can be set up with account recovery this account can be transferred to another users and this probably the main use case for now for uh for hot and this already Works hot protoc accounts supported by hot wallet which is really huge infrastructure wallet it's operated mobile we extension telegam

180. 1:36:55

     uh the hot wallet now has about 3 million daily active users and all their evm accounts uh already operate over hot protocol uh in the future if these people will receive some air drops or high score of the wallet they will able to sell it on secondary market and um uh all this account for the whole future will have to use hot protocol to make any future transaction uh we're pretty proud for for this and we happy to provide the best possible experience for for users

181. 1:37:28

     in this way H protocol also goes through a few really huge law test during some meme coins Louch uh it's operate pretty stable for now and uh we also like happy to share that even for this huge amount of users uh the uh Optical design and of course new new signature stack which we uh based on the cryptographic side um works pretty good uh the other big uses for hot protocol uh which you already

182. 1:38:00

     can see the bridges so smart contracts can actually sign transaction on other blockchains and you can deposit money on BNB you can ask BNB smart contract to sign that this transaction ex exist or like this deposit request and another smart contract on base chain can actually verify this message uh verify this transaction and uh complete most for the user uh now we have a hot Bridge

183. 1:38:31

     uh it's live you can find it in the hot wallet it's a main bridge between chains uh it's the first most popular bridge on your base uh and the third most popular bridge on B&B chain for today by amount of unique users and uh uh we are going to transform this bridge soon into their multi-chain uh multi defy protocol so people would be able to utilize hot protocol to create many many cool uh chain agnostic uh

184. 1:39:01

     applications and Def products uh so yeah this is hot protocol uh what is good to you uh it's a wallet and you can see screenshots from the hot wallet which supported for now and we will be happy to release that way they keep PR soon so any other wallet would be also create NPC wallets for their users over H protocol uh it's a lot of new methods for uh account ownership recovery and security uh which open up for users because they can set up any custom logic into this

185. 1:39:36

     core smart conduct which actually realize assess for the MPC wallets you just have uh whole protocol also provide Bridges which I mentioned before that's also Liv that's integrated in my my opinion hotal now is like the most um like um has the most user site user phrase which you can find in the near chain abstraction group and uh we we are focusing on the final retail users and we create product for them uh and that's what we're pretty proud to provide good

186. 1:40:10

     quality speed and security for users uh backed by the opportunities which uh chain signature give to us um it's also in a future op market for wallet so if uh your wallets can be transferred and you c r can be replaced you can again sell your reputation sell your locked tokens on your wallet and on a fundamental level it's provide like more value for for your crypto wallet so if you just want just want to use some def protocols and you never was care about

187. 1:40:40

     drop hunting but you have a hot wallet one day we can just say hi uh wallet like you has a price in a secondary market like 0.1 ethereum if you're interesting and you of course in that moment can like withdraw your token say okay my reputation of my wallet is really valuable I'm going to sell it and uh that's really cool so your wallets if it's work operated hot protocol NPC Network actually has some um value you

188. 1:41:09

     will be realized uh in the future uh the whole hot protocol works or like MPC multiart computation uh we as I mentioned before use uh the mostly same uh code base for uh the core logic of creating um um creating signature of uh adding new uh valid datas to the network of controlling um like the uh uh the status of the protocol and stuff like this uh each valid data has a piece of private K of course no one can sign transaction

189. 1:41:48

     without participate of as valid dats uh message can be sent with threshold fa if some are not joining the network uh but the biggest difference with near chain signature is that uh H protocol also support um validation over the multichain rpcs so new signature require you to call sign meod from the new protocol and H protocol is actually open up this method for any smart contact on any blockchain uh we only talk about hdk

190. 1:42:21

     like API how SM cont can trigger this the payment the infrastructure still operating near but this API is multi chain which open up away for a lot of um for a huge different group of product so um we now support uh only one curve which U mostly used by evm chains but we are working on support um another one pretty soon I think it's going to take a couple months for us to add and

191. 1:42:52

     when it's done ton salana all those like uh popular blockchains will be able to also operate over H protocol PC wallets and smart contract on all those blockchains will uh receive a API to sign messages and sign transaction over other blockchains which is going to be incredibly cool and I see many great products which can be built on top of it uh we also support uh MPC while on T for now it's a limited edition we had

192. 1:43:23

     our own version of The W before I'm sorry um smart contract on ton which uh useca signature to make transactions but we hope like we are planning to support um as care pretty soon and open up tone for us in a more sustainable way so what's next uh we weing new ways for creating um new new curve on the network we explaining while thata Network um weing more not to participate in each signature uh and we also migrate to the trust execution environment to make sure that not um even if they will

193. 1:44:07

     be compromised they will not have assess to uh will not be able to sign message for users uh H protocols already supported a few a few huge project which was launched it uh it was a few meme coins nfts uh some of them double dog was immediately launch or on a boost on on a two blockchains like BB near um all this product was backed by H protocol NPC directly or the smart contract was controlled by by hot MPC and is just the beginning we will really promote

194. 1:44:45

     Community to create more great product meme coins nft collections protocols over hot and we would love to see what's coming in the near future so that's the main product from meem right now um again as I mentioned before uh we are probably the most uh retail user focused product now in the near chain abstractions Tech group uh we uh we have a huge wallet and a huge user base which we integrate with and this really help us to release the features

195. 1:45:17

     and make them available to the world uh we do a lot of stuff with uh uh other other projects and we also incubate a few by ourself so you can see if few for example hot swaps now has more than 600 thousands unicum Traders which is really cool and like most of them now actually trade with wallets controlled by H protocol and this numbers is going to be 100% as we done with the road map what integration for now telegram wallet as I mentioned before could

196. 1:45:49

     Bridge uh T and way more uh you can find on our official websites so um this was briefly about hot prod also again um I would bring back so it's a network of follow dats using the pretty same core what the new chain signature does but solving different problems yeah for example you can see now transaction on Bas uh which was um just found on like our our index here and uh this

197. 1:46:19

     transaction was signed by a hot protocol so uh H protocol is more focused on multichain and more focused on retail use cases but uh that's um also bring up we we really believe in a general chain abstraction narrative uh we see a lot of cool stuff which can be built and we really happy to provide the infrastructure for other projects or for like some Ming Journal teams to build and Dev with and uh to make a Tre more

198. 1:46:51

     accessible for users more uh convenient for users and to make um wallet and other infrastructure experience way better than we have today um I'm I'm really excited to see what's going to be in next few months we have a huge few huge updates coming up but um already today I think H protocol has like keep providing a huge value for new e system and contribute to project which building

199. 1:47:23

     it um thanks for attention I was happy to share briefly what's going on of course we have way more which you can find number websites while as documentation um we still we we we developing really fast so we keep improving everything and like we had more examples we had more like public smart contacts you can use as a simple but uh it's already um there's already a few a few stuff to learn and like we would love to see more projects built on

200. 1:47:52

     of protocol uh thank you everyone for the attention and um you always feel free to text me telegram if you have any questions uh I would love to share more all right head here first uh plenty of alpha there from Peter of hot wallet fam um look I think it's something that we should all reiterate is that the Chan abstraction Tech stack chin signatures everything around um completely open so it doesn't matter

201. 1:48:26

     whether you are from salana or Bitcoin ethereum cardano it's probably a rough one but we'll still take it anyone anywhere you're welcome here and it also doesn't matter if you have a perm like some of our guests today may or may not have had we will still take you and we will still welcome you with open arms uh so Kendall jaw that was here wallet one of the most used uh in terms of monthly

202. 1:48:50

     active wallets uh deps in the entire world of web 3 now aided in part of course by the prevalence of telegram um any comments that you want to make on here on hot uh before we dive in yeah I I mean I think what's really exciting uh you know similar to sweat uh they've cultivated just a massive massive unique following um and now thanks to you know chain signatures Tech they're able to kind of take that following uh to basically any crypto ecosystem in existence um so I think and

203. 1:49:23

     what's what's really cool is it's very interactive right it's it's like not it's not they have this use this user base that just gets given a list of links and like goes out and comes back no they do everything from within the application uh and so so I think it's it's it's like a much stickier onboarding experience for applications like they get access to a big user base uh and and it's like they'll actually be able to retain some of them so it's h super exciting seeing what they've been able to accomplish and I think it's

204. 1:49:47

     really only just getting started with you know being able to utilize chain signature Tech yeah I was say I think from like a product standpoint it's you know sweat and hot ear in the same boat because you see that they're able to build a user experience that keeps the user in one location which I think is like really a critical piece of all this where you start to lose people where people get scammed all those different things when you start sending people out

205. 1:50:10

     away from your initial product and so being able to do that and I think the expansion now with chain signatures and everything is really is what's going to enable a lot of that for a lot more projects amazing complet agree all right guys we only have a few minutes left but we did get you've been duped duped into thinking anything decentralized was ever going to work but don't worry there's a

206. 1:50:32

     better way stop wasting your time with all this blockchain and go back to the norm get a Lotte and stop trying to change the world build the future of finance and stop corporate AI oh and this thing in November redacted the hackathon cushy office jobs out there you know everything is worth working as it should is a clown show W Ked said love Nia from hash Pakistan well with Love Pakistan from

207. 1:51:13

     hash Nia and every other country because blockchain Tech and chain signatures are of course borderless uh we do have uh some other more actual questions uh that have came through Louie on Twitter said hey guys possible to know who I can reach out to in bizdev or the foundation Louie you can message me on Twitter it's David then3 then M or uh if you slide into my DMs platonically of course uh I

208. 1:51:44

     will absolutely direct you in the right direction um Kendall Jo there was a question that came through uh a few hours ago goodness we've been at it for a while um and they asked if you were to send a transaction via chin signatures perhaps on bitcoin or ethereum that gas fee is it going to reflect the law gas fees of Nia or is it going to be uh the gas fees of whatever transaction uh whatever blockchain you're

209. 1:52:20

     leveraging mut candle yeah that's a great question unfortunately we are uh you know Bound by uh you know if you're interact with ethereum or Bitcoin you're bound by the transaction fees on that network uh there's really no way around that um that being said I think what is cool is that for especially for a chain like ethereum you can actually replace a lot of ethereum functionality with simple like end externally owned account

210. 1:52:46

     eoa address transfers uh which are much cheaper than things like swaps on Unis swap so some creative ways you can utilize chain signatures uh to actually reduce gas fees but if you're just intera if you're using chain signat just to interact eum or Bitcoin like you will of course have to pay the gas fees there but unfortunately you won't have to pay much more because near gas fees are so

211. 1:53:07

     cheap amazing um from machine machine Minds AI he said uh did near improve its token standard I was de there in 2021 and it was a mess ha better now I mean defin change it's defin I mean since 2021 yeah it's way more robust I mean we have you know like thousands of tokens that have now been used including some some very very large ones like native usdt and usdt issued by New Circle and tether so

212. 1:53:45

     I would say that it's uh it's become you know a lot more robust a lot more dial tested you know there's been a lot of user feedback that's kind of gone into it that's what I would say Joe sorry to cut you off there no no yeah that's perfect answer amazing okay uh we have just 3 minutes left until uh until we all have to run at 700 p.m. here and uh the pubs are going to close in like 4 hours so

213. 1:54:09

     I've got to get going somewhere pretty pretty soon um but before we do that Joe tell them where people can find out more if they want to start building if they're the Giga Brands Among Us where do they go what do they do yeah let's uh you know let's we can jump into super fast here so uh you know go to docs.

214. 1:54:29

     n.org uh that's a great way to get started here uh there is some new tutorials uh documentation is up to date as of today you can get started with chain signatures and any of the different infrastructure here on near um but we can go through that and we'll continue to add uh more stuff as well over time there's also a telegram group there's actually two telegram groups that I encourage people to Jo into

215. 1:54:53

     there's the main near Dev telegram group that uh we would highly encourage everyone to jump into and there it is on the screen uh and from there we can help redirect you into the chain signature group as well um but yeah it's a really it's a great time to to build right now and so please come join us uh and you know anything else any help you need there going to be somebody there uh both

216. 1:55:16

     from the community and from I guess representing one of the near entities as well uh to help jump in so so dark near. going to jump into the telegram Amazing Joe thank you so much you've been an incredible co-host as have you Kendall is there anything you want to say do you want to spread your love uh to the world and say anything else about the world of chance signatures near web3 crypto or perhaps

217. 1:55:41

     you just want to tell us about how you sleep at night whatever you like mainly go try out those different products that uh have all been showcased today so just to to recap that's sweat that's B that's all Stak that's he wallet and that's diffuse um they've all shared some really great resources for everybody so go try them out uh and fortunately many many more to come uh keep your eyes peeled the next like several weeks and months like there's a steady stream of really amazing things

218. 1:56:07

     that are going to be launching amazing thank you both so much it's been an incredible live stream uh two cents from me two sets from me two teror grass from me whatever you want to call it uh before we leave uh just remember please everybody listening that we are on the same team here believe it or not it doesn't matter whether you've got a bag full of Soul or eth or nia or anything else um nothing really matters

219. 1:56:31

     because we're all on the same team fighting the same fight for an open internet and an open world so when the day comes knock on would that it never does that you have a tyrannical government or a government that doesn't quite agree with the way that you think um and they want to control whether or not you can use the money that's in your bank account um well we will thank God for Bitcoin and crypto right then and when the day comes and I think it's already here when we have tyrannical big

220. 1:56:56

     Tech knocking at our digital doors ready to stick a straw in Our Brands and suck the data out milliliter by milliliter so they can run their CLA Source AI agents to take yet more money from your pocket and from your data then we will thank our lucky stars that the world of web 3 and crypto has been built then and we won't give two flying books whether it's on bit coin ethereum salana Ora as long as it works and with Chan signatures it absolutely works and it works together

221. 1:57:29

     better than it ever has and if you want to find out more and if you want to join the movement and join the fight against big Tech and uh closed AI then you can join us at redacted in November 9th to the 11th it is in Bangkok if you go to redacted bangkok. aai uh you will find all of the information there there is a $500,000 hackathon if you are uh and you can take home A Nice Slice of

222. 1:57:54

     the pie there uh but importantly and most wonderfully for everybody listening it is completely free you just have to sign up and uh get accepted which I'm sure if you are committed enough to watch this live stream to now you will do uh so hopefully I will see you there at redacted in November 9th to the 11th for the IRL movement God bless goodbye and thank you all so much for listening

223. 1:58:39

     my