►
From YouTube: The Baseline Show: With guest Chico Crypto
Description
The weekly office hours for the Baseline Protocol open source community. Learn more at https://baseline-protocol.org. And start using the first L2 testnet for baseline at https://baseledger.net.
Date: September 1, 2021
A
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B
Hey
everybody-
this
is
john
wolfert.
We're
here
at
the
baseline,
show
brand
new
format.
We
had
a
little
bit
of
a
glitch
this
morning
with
getting
to
the
right
youtube
channel,
but
I
hope
you're,
all
feeling
very
ready
for
the
baseline
show.
This
is
a
very
special
one
here
with
some
very
special
friends.
B
A
B
D
B
So
yeah
everybody,
it's
good
to
see
you.
We
have
our
panel
of
illustrious
guests
here
we
have
kyle
thomas
who's,
going
to
tell
you
all
about
base
letter.
Today,
we've
got
stefan
and
martin
over
from
unibright.
Also
talking
about
base
ledger
and
unibright.
We
got
our
our
our
very
own
mark
cattle
and
nick
criticos
and
tyler
colvard.
B
We've
got
the
whole
gang
here,
hey
we
got
samurai
as
well.
Samurai
kishore
from
the
baseline,
india
show
and
we've
got
gnome
epil
from
morpheus
this.
This
format,
you
only
allow
only
allows
us
to
do
10
people
at
a
time,
so
we've
got
a
whole
bunch
of
people
waiting
in
the
wings
and
anyway,
it's
good
to
see
you
all.
I
guess!
Well,
let's
get
right
to
it.
Did
you
go
grippy.
A
All
right
well
one
of
the
biggest
questions
I
believe
everyone
has
on
their
mind,
is
the
difference
between
you
know
the
protocol
baseline
and
the
offering
that's
coming
out
with
the
collaboration
with
provide
unibright
the
base
ledger.
So
let's
start
that
off.
What's
the
big
differences
between
the
two.
E
You
know,
so
the
provide
stack
has
been
sort
of
this
production
grade
stack,
that's
been
working
towards
being
compliant
with
and
helping
develop
the
baseline
draft
specification
and-
and
really
that's-
that's
been
in
in
like
a
production
quality
state
for
some
time
and
we're
working
on
buttoning
it
up
even
further
and
then
adding
base
ledger
to
that
stack.
Adding
a
consensus.
Proto
mechanism
to
that
stack,
really
enhances
the
security
of
provide
privacy.
A
E
That's
basically
where
we're
at
today
and
then
so
you
deposit
your
your
ubt
into
the
contract
and
then
the
network
there's
essentially
a
bridge
on
the
bay
on
base
ledger
that
determines
what
which
you
know
if
a
deposit
is
essentially
allowed.
It
adjusts
the
the
the
the
voting,
the
voting
power
of
the
validator.
That
has
been
that
you
know
or
the
staker.
Hopefully
that
answers
the
question.
H
H
When
we
publish
the
white
paper,
we
describe
base
letter
as
a
architecture
of
architectures
that
can
act
as
a
layer,
2
or
even
as
a
layer,
2.5
or
whatever
fantasy
names
you
come
up
with,
but
the
basic
idea
is
that
in
in
frequent
frequent
usage
of
base
ledger,
proofs
are
rolled
up
into
the
ethereum
and
anchored
in
the
mainnet,
depending
on
the
use
case.
Yeah.
A
H
Yeah
just
kidding
I
mean
the
most
important
thing
about
baseline,
is
about
the
idea
behind
baseline
is
that
there
is
no
business
relevant
data
on
any
blockchain.
This
is
not
nothing
special
to
to
base
ledger
or
ethereum.
It's
special
to
the
baseline
protocol
into
the
standard
is
that
the
actual
business
data
is
communicated
off
chain,
and
then
you,
you
put
the
proofs
of
this
synchronization
between
two
business
partners.
That's
what
you
use
the
blockchain
for
so
this
does
not
change
with
with
base
ledger.
G
G
So
you
need
this
cheap
and
fast
thing
between
where
you
can
bundle
up
all
the
proofs
and
then
you
roll
them
up
to
ethereum,
and
that's
I
mean
I
guess
we
missed
that
point
for
from
the
provide
perspective
we
or
baseledger
can
even
act
as
a
collector
of
proofs
itself.
I
mean
we
called
it
ckck
roll
ups
or
ck
square
roll
up.
So
it's
it's
a
funny
name,
but
it's
all
about
where
to
store
proofs
efficiently
and
when
to
roll
them
up
to
ethereum.
A
Awesome
well
that
actually
leads
into
one
of
my
questions.
You're
talking
about
it.
So
can
you
explain
ckp's
the
zero
knowledge
proofs
in
the
context
of
the
base
ledger
and
how
are
they
scaled?
I
know
you
know.
Dkp
is
on
the
main
net
of
ethereum.
You
know
not
very
scalable
cost
a
lot.
So
how
are
they
scaled
with
the
base
ledger
and
how
are
they
used.
E
So
the
idea
is,
if
you,
if
you
have
let's
say
you-
have
five
like
five
work
steps
per
workflow
and
you
have
a
thousand
of
those.
That's
you
know,
that's
5
000
proofs
or
wait.
What
was
it?
I
said
five
yeah
five
thousand
proves
a
thousand
of
those
would
be
exit
proofs
if
the
final
work
step
is,
is
an
exit
proof.
So
the
idea
is
all
those
proofs
would
get
written
to
base
ledger,
and
so
you,
a
thousand
of
those
exited
workflows,
could
be
like
the
procure
to
pay
process.
E
We
want
to
do
that.
Essentially,
we
want
to
aggregate
all
those
proofs
and
provide
privacy
having
having
written
all
five
thousand
of
them.
All
five
thousand
proves
to
baseledger,
and
we
want
to
do
that
say
100
times
and
that
that
would
be
essentially
equate
into
100
000
proofs
and
that's
sort
of
the
the
sort
of
the
like
the
tiers.
E
Where
we
would
where
we
would
cut
a
roll-up
proof,
we
would
cut
it
twice,
essentially,
one
for
each
1000
proof,
bundle
essentially
and
then
again
for
each
time
up.
Sorry
I
got
a
little
bit
of
feedback,
and
so
then,
once
we
once
we
accumulated
up
to
a
thousand
a
hundred
thousand
of
those
cutting
another
one.
E
You
know
that
would
be
destined
for
the
mainnet,
so
base
ledger
is
really
adding
security
along
the
way
for
all
100
000
of
those
workflow
exits
that
that
could
essentially
be
bundled
up
into
a
single
one,
single
transaction
on
ethereum
and
these
numbers
you
know,
there's
still
some
tuning
to
be
done
and
some
experimentation
around
the
actual
size
of
these
batches.
If
you
will,
but
that's
that's
sort
of
the
the
idea.
D
B
E
The
roll-up
producers
can
be
expensive
on
ethereum
is
because
they
do
internal
token
transfers
into
like
there's
a
lot
of
internal
token
transactions
that
happen
there
with
this
with
sort
of
the
the,
and
we
could
do
that,
certainly
with
with
the
roll-ups
that
we're
discussing
discussing
here.
But
the
idea
is
that
you
would
not
necessarily
need
internal
token
transactions
to
happen
inside
of
the
100.
The
roll-up
proof
that
has
you
know,
100
000
exits
inside
of
it.
So
that's
that's
another
reason
why
these
should
be
a
lot
cheaper.
B
Yeah,
but
what
you
really
want
is-
and
this
was
we
insisted
this
is-
this
was
absolutely
required
for
the
the
baseline
protocol
specification
was
that
you
know
it.
The
the
proofs
are
all
backed
and
anchored.
You
know
the
merkle
trees
are
anchored
to
the
you
know
to
a
large
public.
Super
tamper,
resistant
blockchain
like
ethereum,
so
ethereum
is
doing
its
job
and
we're
doing
you
know,
but
but
we're
being
efficient
with
where
you
know
everything's
doing
its
own
right
job,
but
we
got
a
little
feedback.
There.
B
A
B
B
A
H
For
example,
uses
tools
like
provide
payments
to
instantly
convert
a
transaction
cost
in
fiat
into
the
needed
uvt,
which
will
be
translated
into
the
corresponding
base.
Ledger,
let's
call
it
gas,
so
we
will
have
a
direct
implementation
here,
also
taking
away
the
the
hurdles
for
for
enterprises
to
deal
with
tokens
or
custody
issues
themselves.
That's
the
that's
the
basic
idea
again
in
the
in
the
spirit
of
what
I
mentioned
before,
make
things
easier
for
the
enterprises
to
actually
use
it.
That's
awesome.
G
Yeah
yeah,
that's
true,
I
mean
it
was
important
for
us
to
to
build
it
as
a
public
network,
so
there
is
no
big
hurdle
for
customers
or
whoever
wants
to
join
the
network.
To
do
so.
So
there
is
no
no
setup
costs
involved.
I
mean
the
infrastructure
is
just
there
and
we
even
have
the
tools
to
integrate
erp
systems
to
it.
So
it's
yeah.
It
was
a
very
important
decision
to
not
make
it
a
private
chain
where
you
have
to
set
up
costly
infrastructure
and
maintain
it.
B
And
explains
all
this
stuff
and
I'll
say
for
the
audience
that
we
don't
have
this
finished.
Yet
it
was
supposed
to
be
done
for
october's
eat
atlanta
event
eath
atlanta,
which
hopefully
everybody
is
going
to
go
to
yeah.
You
can
go
to
eth
atl.com
for
that
and
but
so
we're
gonna
we're
gonna
release
the
actual
video
and
it's
all
of
its
beautiful
animated
glory
later.
But
we
thought
just
for
this
special
occasion.
B
C
Minutes
look
there
know
what
that
is
why
it's
a
brand
new
piece
of
information
hi
there
little
one,
I
think
I'll
call
you
bit
bit
is
important
bit-
represents
real
value,
real
things.
We
better
put
you
somewhere
safe
little
bit.
There
you
go
into
your
own,
secure
information
management
system
run
by
the
company
that
loves
you.
C
It
used
to
be
that
bit
could
live
its
whole
life
comfortably
inside
its
own
walled
garden
inside
one
company
today
bits
real
power
is
how
it's
shared
between
different
companies,
letting
them
automate
and
synchronize
their
operations
to
produce
goods
and
services
together
for
bit
to
do
its
job.
It
needs
to
make
sure
that
everyone
has
the
same
bits.
Somehow
every
copy
of
bit
needs
to
be
in
sync
with
the
others,
but
here's
the
thing
about
bits:
it's
easy
to
change,
one
without
changing
the
other
copies
running
on
other
machines.
C
C
Now
big
companies
with
a
lot
of
cash
to
spare,
have
known
for
years
how
to
keep
bit
from
running
amok,
but
they
all
involved
either
making
one
machine
the
primary
source
of
truth
or
spending
capital
on
dedicated
integration
machines.
All
these
methods
created
more
information
silos
to
manage
what
a
mess
poor
little
bit.
A
different
approach
is
to
keep
bits
in
sync
in
a
loosely
coupled
way.
C
All
the
bits
have
to
do
is
subscribe
to
the
same
spot
on
a
common
bulletin
board
and
they
can
be
sure,
they're
updating
together
as
they
should
a
special
cryptographic
symbol
called
a
proof
is
placed
on
the
board
so
that
bit
can
stay
in
sync
without
exposing
any
information
to
anyone
else.
That
may
have
access
done
right.
It's
impossible
for
observers
to
know
who
is
depositing
proofs
on
the
bulletin
board
or
even
to
discover
rates
of
actual
activity.
C
There's
nothing
new
about
this
design
pattern,
but
until
now,
companies
had
to
spend
capital
to
set
up
these
proprietary
bulletin
boards
for
every
new
set
of
partners.
That's
expensive,
unlike
those
old
bespoke
bulletin
boards,
the
public
blockchain
is
supremely
tamper.
Resistant
which
means
bit
doesn't
have
to
worry
about
someone
changing
or
deleting
the
proof
it's
using
to
stay
in
sync,
and
remember
it
does
this
without
putting
any
actual
information
on
any
kind
of
blockchain
the
industry
standard
for
using
the
public
blockchain.
B
D
B
Well,
thanks
for
indulging
us
on
that,
I
hope
everybody
got
a
little
bit
out
of
that,
and
and
maybe
that
can
set
the
stage
for
really
something
we
want
to
do
now,
and
she
going
we're
talking
about
last
night
was
to
do
a
bit
of
code.
Don't
lie
session
with
with
kyle
and
team
kyle.
You
can
share
your
screen
if
you'd
like
and
if
you
you
don't
have
to,
but
you
can
all.
B
B
There
you
go
yeah,
okay,
so
chico
crypto.
You
can
ask
some
questions
about
this,
and
maybe
kyle
can
take
us
through
and
actually
show
us
how,
how
easy
it
is
for
say,
an
enterprise
developer
or
any
anybody
running
a
business
that
needs
to
sync
stuff
to
to
get
going,
and
this
is
really
the
thing
is
making
you
know
up
until
now.
You
need
to
be
sort
of
andreas
freund,
our
good
friend,
you
know
somebody
who
was
really
good
at
systems
and
and
getting
into
real
code.
Now.
E
Yeah
yeah,
the
idea
here
is-
is
to
set
the
stage
for
a
really
productive
hackathon
in
east
atlanta.
You
know,
I
think
we
want
to
yeah.
We
want
to
make
it
super
easy
and
let
all
sorts
of
enterprise
folks
feel
comfortable
building
baseline
stuff
baselining.
You
know:
building
new
baseline
projects
at
the
east
atlanta
hackathon
october,
first
through
third
ethel.com,
to
sign
up
for
you
know
for
that.
Hackathon
yeah.
So.
B
E
I
can
go
into
I'll
start
off
by
by
saying
we.
We
actually
have
two
test
nets
running
today,
as
of
today,
martin,
stefan
and
team.
They
they
they
worked,
have
worked
on
a
test
that
called
lakewood
and
it
was
based
on
cosmos,
sdk
and
there's
some
good,
really
good,
learnings
takeaways
from
that
and
as
a
result
of
that
effort
and
that
that
cosmos
sdk
test
that
has
eight
validators
running
on
it.
E
That
is
all
fully
open
source
now,
as
a
result
of
what
we've
been
working
on
here
with
unibride
and
consensus
in
the
baseline
community,
so
really
excited
to
surface
all
that
work
and
make
it
part
of
bri.
One
proper
excuse
me.
So
so,
if
you
look
at
github.com,
baseledger
slash
baseledger
core,
you
see
the
this
this
this
repo
here
and
the
standard.
Like
you
know,
we
haven't
added
this
code
yet.
E
Repo
that's
worth
looking
at
called
base
ledger
contracts.
I
believe
yes
and
so
there's
that's
where
the
staking
there's
there's
this
one.
One
contract
in
here
called
staking.sol,
it's
worth
looking
at.
It
has
the
deposit
and
withdrawal
methods
that
I
mentioned
before.
I
won't
stay
too
long
there.
So
there's
a
quick
start
that
sort
of
shows
you
how
to
get
started
with
the
base
larger
core
we're
calling
this
the
peachtree
test
net.
E
F
E
Off
with
marta,
because
smart
is
like
the
entire
transit
authority
and
not
just
one
station,
so
I
it
it
made
sense.
So
this
is
this
is
the
peachtree
test
net
and
it
has
so
it's
it's
only.
It's
only
has
one
validator
at
the
moment
we're
looking
at
opening
up
the
the
ability
for
folks
to
apply
or
potentially
become
validators
as
early
as
around
the
east
atlanta
hackathon,
as
well
so
get
in
touch
with
with
us
about
that
and
you'll.
E
Essentially,
when
you,
when
you
become
a
validator,
there's
a
there's,
a
deposit,
there's
a
contract
that
you
call
basically
with
your
beneficiary
address,
which
can
be
essentially
that's
the
address.
Where
your
stake
rewards,
we
will
go
a
validator
which
is
the
the
validator
on
the
on
the
base
ledger
network
and
then
the
the
amount
of
your
stake.
E
So
basically
you
know
you
can
you
can
well
hold
on
it?
Won't
it
won't
it
won't.
It
won't
actually
error
out
it'll
work,
so
it
my
meta
mask
was
saying
there
would
be
an
exception
thrown,
but
at
any
rate.
So
if
you
look
at
the
quick
start,
you
want
to
install
golang.
You
want
to
build
the
project
from
source.
G
D
E
So
you
we
actually
use
the
we
actually
created
a
lightweight
fork
of
tinderman
for
for
base
ledger,
and
it
currently
requires
you
to
use
a
vault
a
provide
vault
service,
which
was
again
an
open
source
component.
It's
now
open
source.
You
use
the
provide
vault
to
create
an
n25519
key
pair,
which
would
be
used
to
essentially
sign
transactions
as
a
validator.
E
So
then
that
once
you've
got
once
you
sort
of
set
that
up,
you
can
run
a
run,
a
a
full
or
validator
node
and
deposit
ebt
and
the
appropriate
staking
contract,
and
you
can
see
here
there's
a
list
of
the
token
contract.
That's
the
that's!
The
main
ubt
address,
obviously,
there's
no
staking
contract.
This
is
not
on
main
net.
So
that's
it's
not
there.
E
H
Yeah,
I
mean
also
also
to
give
some
context
to
that
and
also
some
explanation
why
there
are
two
test
sets
I
mean
they
are,
of
course,
if
you
run
a
test
net,
you
want
to
test
things,
and
you
want
to
learn
about
things
before
going
productive,
and
there
are
many
subjects
that
we
want
to
test
with
the
test
net,
for
example
the
behavior
of
the
net
in
different
validation
power
settings.
That's
why
lakewood
also
will
test
out
some.
H
Exactly
because
we're
doing
these
kind
of
tests
and
peach
tree
is
more
like
the,
let's
call
it
the
path
to
the
productive
version
of
of
base
ledger,
where
we
of
course
will
test
the
inclusion
of
staking
contracts,
but
the
the
metrics
on
the
staking,
for
example,
how
many
validator
nodes
will
there
be
in
in
the
line
in
the
productive
net?
How
how
much
is
the
the
minimum
amount
you
have
to
stake
before
becoming
a
validator?
H
What
can
the
different
validators
offer
proxy
stakers?
Perhaps
there's
even
some
competition
between
different
validators
that
offer
proxies
taking
all
these
things
will
be
explored
during
the
test
net
phase?
That's
why
we're
having
that
phase
so
bear
with
us
in
terms
of
what
is
the
final
number
on
mark
one,
two
or
three:
the
test
net
just
went
live
like
some
hours
ago,
and
this
is
what's
what's
about
to
be
tested.
Yeah.
G
But
I
guess
it's
important
to
mention
as
well
that
we
don't
only
open
source
through
code,
but
in
terms
of
governance,
we
are
in
transition
phase
with
the
mainnet
coming
up
in
q1.
We
want
to
have
set
up
a
more
decentralized
thing
like
in
a
foundation
or
association,
something
where
the
community
can
can
engage,
not
only
in
coding
but
in
governance
as
well.
So
the
baseledge
network
is
in
in
no
means
is
it?
Is
it
closed
or
controlled
by
by
any
party?
E
E
E
A
A
F
A
F
E
Yeah
we're
making
we're
making
a
one-liner
it's
gonna,
it's
actually
gonna
be
provide
base,
ledger.
Node
start.
If
you
can
run
that
you're
gonna
be
able
to
run
the
node.
So
that's
it's
going
to
be
very
you
and
you
won't
have
to
fill
all
you
won't
have
to
fill.
All
these
out.
They'll
essentially
have
default
same
defaults
that
just
do
this
like
they
just
start
running
the
node
for
you
based
on
very
same
defaults,
so
yeah.
E
B
B
E
E
E
H
A
B
H
So
I
mean
if,
if
chico
is
asking
the
question,
the
answer
would
be
you:
could
you
can
easily
when,
as
soon
as
the
one-liner
is
there
become
a
technical
part
of
baseletter?
But
as
soon
as
the
mentioned
staking
contracts
are
working
in
on
robston
and
later
on
on
mainnet,
you
can
also
become
part
of
base
ledger
by
providing
the
needed
validation
power.
Yes,
so
proxy
is
a
proxy
taker.
H
So
these
are
the
two
paths
where
people
can
actually
engage
and
if
it's,
if
it's
all
under
that,
let's
say
open
source
understanding
and
backed
by
something
that
establishes
standard
and
it's
not
a
closed
community.
That
builds
something
and
has
the
the
big
button
to
switch
it
off
again,
then
this
actually
all
makes
sense
and
that's
what
we're
heading
for.
B
B
E
E
Don't
have
to
start
provide
if
you're
running
base
ledger
you
can
you
can
leverage
the
provide
stack.
That's
that
is
running
in
our
hosted
environment.
You
can
also
run
the
full
stack.
The
full
provide
stack
like
you
would
in
bri,
one
and
also
you'll,
be
able
to
just
add
base
ledger
to
that
existing
stack.
E
B
All
right,
so
so
what
would
I
do
and
I'll
I'll
turn
it
back
to
chico?
What
would
I
do
to
to
if
I
wanted
to
use
base
ledger
and
provide
on
a
project
right
now?
I
want
to.
I
want
to
synchronize
my
receivables
or
I
want
my.
You
know.
I've
got
a
customer
and
I
want
to
make
sure
my
invoices
are
the
same
as
their
receivable
or
their
payables.
E
The
first
one
you're
going
to
want
you're
going
to
come
to
if
you
want
to
use,
base,
ledger
and
develop
locally
you're
going
to
want
to
come
to
come
to.
As
we
were
discussing
the
base
ledger
repo
clone
the
repo.
Do
these
things
in
the
in
the
readme
and
then
you'll
probably
want
to
build
some
sort
of
circuit.
Some
number
of
circuits
that
represent
your
your
workflow.
E
The
easy
button
for
that
is
is
again,
I
think
it's,
I
think
atlanta
is
sort
of
the
easy
button
for
that.
I
think
what
you
want
to
do
is
you
want
to
you
want
to
come
to
youth
atlanta,
and
you
want
to
build
like
there's
a
couple
of
things,
a
couple
of
ideas
we
have
to
sort
of
seed
for
developers,
but
yeah
one
one
is
to
contribute
to
the
to
one
or
more
proxy,
staking
sort
of
implementations.
E
That's
one
one
idea
for
base
ledger
and
then
the
other
for
baselining
itself
there.
Well,
there's
many
there's
many
ideas
that
we
have,
that
we're
going
to
see
for
the
community
and
also
bounty
in
and
around
you
know,
building
on
the
baseline
building
using
the
baseline
protocol.
Is
there
a
sample
right
now.
H
To
that
I
mean
the
easy,
the
easy
button-
let's
say
some
weeks
or
months
from
now.
If
we
are
all
completely
honest,
then
all
this
baseline
stuff
should
just
work
in
the
background
and
base
letter
now
fulfills
the
standard.
But
if
you
really
ask
for
the
easy
button
from
a
customer
perspective,
most
probably
they
they
never
will
and
they
never
want
to
leave
their
used
system
anyway.
So
we're
all
working
on
getting
that
easy
button
closer
to
this
system.
They
are
using
every
day.
H
So
the
easy
button
will
be
an
sap
button
on
a
purchase
order
where
you
can
set
a
check
mark
on.
Should
this
purchase
order
be
baselined,
yes
or
no,
and
as
soon
as
you
hit
the
check
mark,
then
you
have
the
setting
of
the
sap
connecting
to
to
the
provide
stack
and
the
provides
text.
Storing
the
proofs
and
base
ledger
and
exiting
into
ethereum.
I
mean
if
we
would
oh
yeah.
H
C
B
A
Right
right
well,
regarding
that
you
know
you're
talking
about
you,
know
receivables,
you
know
being
baselined,
storing
the
proofs
and
everything.
So
could
you
give
me
an
example
of
you
know:
enterprise
fight
in
the
context
of
base
ledger.
You
know
an
example
of
a
use
case
with
you
know
a
business
you
know
storing
their.
E
Data,
I
think
it's
the
same
as
it
always
has
been
if
you
want
to
just
if
you
want
to
look
at
that
flagship
off
opportunity
with
kona
right,
like
the
procure
to
pay
process
with
kona,
it
flows
through
sap
flow
and
it
flows
through
base
ledger
and
it's
anchored
on
ethereum.
I
mean
all
of
that
everything
we've
been
building.
That's
another
really.
I
think
good
thing
that
we
can.
We
can
say
here
about
about
all
the
stuff
that
we've
been
building.
It
all
builds
on
itself.
E
It
all
builds
on
the
previous
thing
that
we've
done
it
all
works
together,
and
so
like
we're
not
like
going
here
and
forking
in
different
directions,
you
know
it's
all
we're
always
building
towards
the
same
to
toward
the
same
end
game,
which
is
which
is
baselining.
You
know
and
seeing
enterprise
d5
settlement
happen
on
mainnet
by
way
of
baseline
protocol.
D
E
Exactly
and
there's
some
really
interesting
things
that
are
coming
that
we
probably
can't
mention
now
today,
but
like
there's,
there's
big,
there's
big
sources
of
liquidity
that
are
that
are
that
are
starting
to
play
in
the
space
around
our
around
our
offering
and
those
hot.
The
fact
that
the
the
assets
are
of
of
higher
quality
or
very
high
quality
is
a
big
deal
to
those
to
those
players.
A
Ahead,
so
so
a
big
question
I
have
you
know,
especially
with
kyle
talking
about
liquidity
sources.
Everyone
knows,
you
know,
there's
decentralized
exchanges,
you
know
for
tokens,
you
know.
Do
you
see,
you
know
some
decentralized
marketplaces
popping
up
for
some
of
these
enterprise
assets.
You
know
and
who's
going
to
be
the
one
to
build
it.
Do
you
really
think
it's
going
to
be
like
the
actual
companies
themselves
building
it
or
do
you
think
it's
going
to
be
community
members?
You
know
just
regular
joey,
regular
joe
at
home
building.
It.
B
B
B
D
To
answer
chico's
question:
I
am
not
at
liberty
to
disclose
details,
but
I
do
know
of
at
least
one
project,
probably
more
than
that
that
are
looking
to
build,
essentially
defy
marketplaces
for
these
assets,
initially
invoices
and
likely
others
as
they
become
verified
through
baseline
and
base.
Ledger
awesome,
watch
this
space
and
come
to
east
atlanta
yeah
just
to
expand
to
that
nick
there's,
multiple
financial
institutions
in
d5
protocols
who
are
actively
seeking
this
new
source
of
liquidity
that
we're
all
knocking
here
and
we
couldn't
be
more
excited
about
it.
A
So
another
question
I
have
regarding
that:
you
know,
of
course,
there's
regular.
You
know
crypto
token
dejan
defy
you
know
all
this
farming
yield
farming
blah
blah
blah.
I
mean
it
surged
to
billions
upon
billions
of
dollars.
How
long
I
mean
I
do
think
personally
and
myself,
enterprise
d5
will
eventually
flip
it.
But
how
long
do
you
think
that
you
know
will
take
for
an
enterprise
d5
total
value
locked
up
in
you
know
some
protocols
marketplaces
to
start
competing
with.
You
know
the
regular
crypto
token
d5
pbl.
We
see
today.
D
D
A
B
Well,
I
think
that
the
it
it
really
is
two
different
things
right.
You've
got
to
have
really
good
data
and
that's
a
traditional
it
thing
and
that's
what
baselining
is
all
about
is
making
sure
that
traditional
I.t
is
synchronized,
that
we
have
good
sync,
you
don't
have
good
sync,
then
you
have
counterparties
that
don't
have
the
same
information.
You
don't
have
a
very
good
asset
or
a
token.
If
you
want
to
tokenize
that
asset
to
turn
into
any
kind
of
value
and
then
go
and
do
all
the
lego
blocks
of
d5.
B
On
top
of
that
so
defy
and
tokenization
and
and
baselining
are
separate
kind
of
pipelines
in
the
ultimate.
You
know
goal
you
can
baseline
without
going
to
d5.
You
could
d5
without
doing
using
baseline,
but
if
I
want
to
buy
a
a
physical
asset
like
an
or
something
like
a
receivable,
an
invoice
or
an
nft.
B
B
Instead
of
putting
that
on
ipfs
and
letting
anybody
just
download
it
right
and,
and
then
somebody
buying
it
for
buying
a
record
in
a
database
called
a
blockchain
for
68
million
dollars,
which
is
just
bragging
rights,
they
can't
assert
control
over
it.
They
can't
assert
copyright
protection
over
it.
They
don't
really
own
the
the
ass,
the
the
mona
lisa,
they
just
own
a
record
that
says
it
says
that
they
paid
68
million
dollars
that
I
don't
really
understand
that
to
be
honest,
but
what
I
would
understand.
What
would
make
sense
to
me?
B
D
So,
if
you're
going
to
buy
a
receivable
from
someone,
that's
two
or
three
or
even
five
hops
down
that
chain,
and
you
can
tie
it
all
the
way
back
to
the
ultimate
buyer
and
leverage
some
of
their
credit
rating
in
order
to
effectively
rate
that
receivable.
It's
a
much
stronger
story
and
a
much
stronger
supply
chain.
A
H
B
H
Then
then,
why
not
giving
them
the
the
option
to
to
run
base
ledger
nodes
to
sync
all
the
the
proofs
that
yeah
that
prove
the
the
ownership
transfer
or
the
the
new
minting
of
the
next
generation
of
nfts,
depending
on
the
first
one?
I
mean
it's
all
currently,
sometimes
at
the
feeling
in
the
blockchain
space
that
all
these
pocs
that
have
been
built
in
2018
now
are
somehow
coming
together,
for
example,
in
in
baseline,
because
they
now
make
sense
because
they
do
something
together.
H
B
E
B
B
Could
put
it
on
and
so
that
that
is
a
or
you
could
shame
it
across
a
bunch
of
different
servers,
but
they're
all
very
private
right.
So
you
could
do
that,
and
so
this
is
a
great
example
of
where
data
is
for
databases.
You've
got
databases,
doing
it's
their
job
and
through
baseline
you're,
allowing
them
to
become
part
of
the
d5
and
nft
world,
but
not
putting
that
data
on
blockchains.
D
In
those
processes
that
we
tokenize
and
synchronize
at
the
exit
of
those
workflows,
we
can
ultimately
exit
as
a
smart
contract
or
as
an
nft.
So
we're
going
to
be
at
the
forefront
of
onboarding
a
tremendous
amount
of
enterprise
use
cases
within
the
baseline
and
based
on
protocol
and
within
base
ledger
from
both
a
smart
contract
perspective
and
an
nft
perspective
within
the
enterprise
place.
A
Well,
switching
gears
a
little
bit
from
nfts.
We
have
a
couple
community
questions
that
I
want
to
answer
or
ask
you
guys
regarding
staking
and
ubt
staking
so
brandon,
and
the
scottish
bull
from
the
chico
crypto
community
have
asked
me:
how
will
the
mechanics
of
ubt
staking
work?
That
is
a
big
question.
That's
on
a
lot
of
people's
minds.
H
Yeah,
okay,
big
big
question:
of
course
there
are
several
answers
to
it.
I
mean,
as
outlined
in
the
white
paper
already
some
some
months
ago.
The
idea
about
staking
is
not
like
in
a
pure
financial
world,
where
you
put
something
in
and
you
get
an
interest
rate
back.
That's
not
the
idea
of
base
ledger
staking.
The
idea
is
that
you
need
a
stake
to
run
a
validator
node
and
that
you
get
revenue,
shares
and
rewards
from
doing
so,
because
you
have
to
provide
a
certain
service
level
of
your
validator
node.
H
G
Yeah,
that's
that's
the
delay,
the
layer
one
staking
so
to
say
for
people
that
are
able
to
run
a
validator
and
there
are
only
certain
spots
for
validators
and,
as
you
already
outlined,
for
upt
holders,
so
to
say
they
can
do
proxy
staking
by
connecting
to
a
validator,
and
our
idea
is
so
that
all
the
validators
they
can
compete
and
can
can
come
up
with
like
different
models,
different
conditions
and
so
attracting
different
moods
or
all
kinds
of
people
that
want
to
proxy
stake.
Qbt
and
that's
the
the
very
big
picture
idea.
G
E
A
H
Of
course,
the
governance
is,
is
a
providing
right
governance
so
to
say,
and
it
doesn't
make
sense
to
have
a
fully
decentralized
technical
solution
if
the
governance
part
is
not
decentralized
enough,
so
this
is
also
part
of
the
next
months
to
come
to
make
the
the
proper
proposal
for
a
decentralization
of
the
governance
part
of
bayes
veterans
well
to
decide
exactly
on
these
kind
of
metrics.
It's
not
on
us
to
decide.
No,
it
shouldn't.
A
A
G
E
G
A
A
E
So
not
today,
however,
I
have
a
few
ideas
around
random,
random
beacons
being
added
to
base
ledger,
and
so
maybe
like
every
in
number
of
blocks.
We
we
we
inject
randomness
into
a
block,
a
block
header,
a
base
ledger
that
can
be
used
for
trusted
like
like
plonk
setup,
multi-party
setups
for
for
snarks.
That's
one
idea,
we'll
see
we'll
see
if
we
can
bring
that
to
fruition,
yeah
chain
link
or
some
some
other
way.
B
Yeah,
the
I
think
it's
pretty,
it's
always
been
obvious
and
it's
why
chain
link
has
been
involved
since
the
beginning
that
at
some
point,
when
it's
not
just
simple,
you
know,
are
we
consistent?
But
rather
you
know,
work
steps
that
say
if
this
happens
or
if
there
is
this
kind
of
variable,
then
you're
gonna
have
to
have
a
deterministic
input
for
that.
B
D
A
A
B
D
B
B
D
A
A
G
With
it,
no
it's
a
trade-off
between
it's
more
like
the
more
it's
not
so
easy.
It
can
even
be
like
the
more
notes
you
get.
The
lower
is
the
number
of
transactions
you
can
process
because
there's
then
the
latency
between
the
nodes
and
they
have
to
communicate
here
in
the
consensus
mechanism.
So
it's
somewhere
in
between
there
is
a
sweet
spot
where
you
have
for
validation,
for
validation,
yeah,
of
course,
there's
a
sweet
spot.
H
A
E
A
A
H
I
mean
I
mean
concerto,
first
of
all,
basically,
an
sap
related
related
team
that
are
also
part
of
building
our
what
we
call
the
unibright
connector
like
three
years
ago.
One
answer
would
be
come
to
etherglenta
because
there
will
be
details
about
how
that
sap
connection
will
be,
let's
say
more
officially
anchored
in
the
sap
world
even
before
either
and
yeah
about
the
use
cases
I
mean
you,
you
mentioned
navi
porter,
so
eu
cross
border
tax,
related
baselining,
for
example.
H
I
mean
that's
the
beauty
of
baseline
or
base
ledger
as
well,
that
the
use
cases
themselves
don't
have
to
be
that
specific
anymore.
If
we
go
three
back
a
few
years
back
in
time,
then
we
had
one
blockchain
project
for
every
use
case.
I
think
these
times
are
over,
because
you
can.
We
already
talked
about
nfts.
We
talked
about
tokenizing
invoices,
you
you
can
just
use
a
base
ledger
to
baseline
them
all,
and
this
also
holds
true
for
let's
say
border
shipment
or
or
coca-cola
or
whatever
you
may
think
of
that's
energy.
H
G
A
B
E
B
E
D
D
A
B
B
In
the
whole
time
I've
been
watching
this
stuff
and
but
most
of
the
time,
you'd
really
really
do
a
good
job
of
of
of
investigating
of
understanding
and
it
kind
of
like
you
know,
rachel
wolfson,
who
we're
big
fans
of
as
well.
You
know
you
get
it
right,
and
you
know
the
story
is
usually
good
and
reasonable.
So
thanks
for
for
the
great
coverage
we
appreciate
it.
B
A
B
G
B
F
Yeah
yeah
thanks
so
much
john
such
a
great
discussion.
I
I
was
hesitant
to
jump
in
and
I
didn't
want
to
interrupt
anything
first.
You
know
base
ledger.
You
know
amazing
work,
ubt
and
kyle,
and
everyone
involved.
You
know
my
company
morpheus
network.
It
is
a
supply
chain,
company,
we're
a
middleware
platform
and
we've
always
been
very
excited
about
baseline,
because
it
is
that
middleware
protocol
and
I
don't
want
to
take
up
too
much
time.
F
But
what
I
will
say
is
that
you
know
my
interest
has
always
been
bringing
baseline
to
rail
companies.
You
know
we
work
with
a
lot
of
companies
in
the
supply
chain,
industry
and
I
think
really
overall,
that's
where
we
can
provide
the
most
value
connecting
it
with
real
enterprises
today.
So
super
excited
to
see
this
new
development
based,
ledger,
super,
exciting
and
kyle.
I
think
I'll
reach
out
to
you
immediately
we're
on
slack
together
so
I'll.
F
A
Before
we
go,
I
mean
I
got
a
question
regarding
you
actually
morpheus
network.
So,
as
we
know
you
know,
base
ledger
baseline
is
working
with.
You
know:
coke
one,
the
north
american
bottlers,
I've
done
research
and
I've
seen
that
you
guys
have
involvement
with
you
know
down
south
south
of
the
border,
so
coca-cola
you
know.
Is
there
any
possible?
You
know,
connections
between
the
two
you
know
cross.
You
know
collaboration
base
ledger
integrating
with
those
guys.
A
F
B
Yeah
the
way
you
want
to
get,
I
think,
a
very
powerful
baselining
story
that
would
be
powerful
for
you
guys
and
others
is
yeah.
I
would
say
if
I'm
going,
if
I'm
kyle
and
I
go
to
you,
know
a
cio
and
I
say:
hey
baseline,
your
system's
a
record,
so
you
have
fewer
screw-ups
between
you
and
your
counterparties.
That's.
A
B
F
A
Yeah
definitely
I
just
want
to
thank
all
you
guys
for
having
me
on
the
show,
and
you
know,
being
big
fans
of
the
channel,
because
I'm
big
fans
of
all
of
you,
each
and
every
one
of
you
there's
a
reason.
I've
talked
about
each
of
your
projects
on
my
channel
is
because
I
found
something
that
you
know
makes
my
brain
go
what
you
know
so.