►
From YouTube: PSK (the Pool for Proof of Stake coin): Proof of Stake and Casper's FFG - Delia Hallberg
Description
Recording by Livepeer.tv
B
Hello
hi,
so
today
we're
gonna.
Do
a
small
are
actually
a
big
journey
through
the
world
of
consensus,
algorithms
with
all
three
topics,
so
it's
sort
of
an
incidence
that
today
we're
covering
all
of
us
actually
consensus,
but
it
actually
it's
not
a
coincidence,
because
there
is
a
lot
happening
out
there
in
the
ecosystem
today.
B
So
basically,
I'm
gonna
talk
about
POS
about
PSK,
the
proof
of
stake
and
the
theorem
2.0
Kasparov
I,
don't
know
whether
you
have
read
about
it,
but
a
cerium
is
gonna
switch
from
pow2
POS,
which
is
a
massive
you
know,
project,
so
I
think
it's
good
for
all
of
us,
so
I'm
on,
oh
yeah,
I
am
really
how
dark
and
I'm
a
governance
researcher,
so
disclaimer
I'm,
not
a
techie.
I
do
sociology,
I
do
social
sciences
and
I'm
trying
to
make
sense
out
of
everything
to
discover
the
meaning
right.
B
So
for
me
it's
always
super
frustrating
to
be
sitting
somewhere
and
it's
like
a
highly
technical
talk,
and
you
know
you
just
drift
away.
So
I
don't
want
that
to
happen
to
you.
My
mission
is
that,
at
the
end
of
this
talk,
you
understand
casper
with
me
so
first
question:
who
is
relatively
new
to
the
space
like
to
decrypt
a
space
or
it's
just
starting
to
get
an
overview.
Please
raise
your
hand,
cool,
welcome,
that's
nice!
B
So
who
has
a
clear
understanding
of
what?
Let's
ask
a
consensus?
Algorithm
is
okay,
so
a
conscious
algorithm
is
just
basically
a
way
to
agree
like
old
notes
like
hey,
which
change
shall
we
follow?
Which
blocks
shall
we
mine
and
then
all
the
network
comes
to
an
agreement.
So
this
is
more
or
less
an
overview,
so
who
has
a
clear
understanding
of
how
we're
not
the
other
way
around?
Who
does
not
have
a
clear
understanding
of
how
POS
work?
B
Okay,
I'm
gonna,
so
I'm
gonna
go
further
into
detail
into
that
Thanks
and
who
has
a
clear
understanding
of
how
Casper
works.
You
know
okay,
so
you're
gonna
help
me
out
in
case
like
okay.
So
thanks
for
the
overview,
so
I
can
adapt
a
little
bit
my
talk
to
that
so
POS
POS
proof
of
stake.
What
is
that?
Should
we
even
care?
B
B
Right
so
before
we
start
I'm
gonna
explain
you
my
structure.
First
I'm
going
to
give
an
overview
about
POS
and
PSK.
The
company
I
am
working
for
the
major
problems
that
powa
pauses,
the
solutions
that
proof
of
stake
gives
pool
of
sake
and
then
we're
gonna
dive
a
little
bit
further
into
a
serum
Casper
and
I'm
gonna,
explain,
FFG
and
you're
gonna
understand
it.
B
So,
as
I
already
mentioned,
any
POWs
facing
fundamental
problems,
the
first
one
being
the
issue
of
centralization.
Here
we
see
a
pie
chart
of
the
mining
pools
in
Bitcoin,
and
this
was
taken
last
Monday
right.
So
we
see
that
there
is
actually
quite
a
lot
of
centralization
going
on.
If
we
count
the
top
three
pools
together,
there
already
are
more
than
51%,
which
is
a
threat
to
the
network
and
you're
thinking.
Maybe
yeah,
that's
Bitcoin,
but
here
we
are
at
the
Syria.
Meetup
cerium
is
doing
better
No.
B
So
here
we
see
that,
if
theorem
is
even
currently
slightly
more
centralized
in
terms
of
mining
pool
size,
hash
rate,
highest
rate
power
per
remaining
pool,
we
see
ether
remind
and
f2
pool
to
already
nearly
have
more
than
51
percent.
So
this
is
the
first
problem.
The
second
problem
is
the
energy
consumption.
B
Plw
is
extremely
energy
intense,
and
we
see
here
from
march
2007
to
March
2018,
the
energy
consumption
development
of
Bitcoin,
and
it's
at
56,000
terawatt
per
hour
right
now-
and
this
is
something
like
the
energy
consumption
of
New
Zealand
and
then
you're
thinking,
oh,
but
that's
Bitcoin
and
we're
it's
Syria,
my
serums,
much
better
in
this
case,
you're
right.
So
it's
only
only
16,000
terawatt
per
hour
and
for
the
people
Chris
for
you
who
said
that
yeah
but
Bitcoin
and
compared
to
the
financial
system
in
general.
B
So
here
we
see
the
etherium
transaction
chart
transaction
chart
and
the
read
this
here
is
where
crypto,
kitties
and
already
so
cryptic
kiddies
is
a
Dieppe,
the
first
Dieppe
that
was
running
on
the
Syria
Network
and
basically,
when
this
started
it
reached
up
to
1
million
transactions
in
24
hours,
and
this
nearly
smashed
a
network
sector
in
sections
were
not
working,
an
IC
o----
had
to
be
postponed
and
the
breathing
cycle
cryptic
eighties
was
threatened.
You
know,
so.
B
B
So
what
is
actually
proof
of
stake
and
proof
of
work?
You
need
mining.
You
need
miners
to
perform
work,
mathematical,
algorithms,
to
create
new
coins.
Mpos,
that's
not
the
coin,
because
usually
coins
are
already
pre
minted
pre-existing
and
you
don't
have
miners
doing
work
to
validate
your
transactions.
Hello
welcome,
but
you
have
nodes
like
validators
that
are
chosen,
sometimes
randomly
sometimes
similar
randomly
and
these
nodes
validate
transactions.
So
you
no
longer
have
miners
doing
computational
work,
you
have
validators
and
there
is
no
mining
reward,
but
instead
you
have
transaction
fees.
B
So
if
I
want
to
send
a
transaction
on
the
POV
base,
cryptocurrency
I
pay
a
fee
for
the
validator
and
not
for
the
miner
doing
work
right.
So
there
is
a
variations
of
P
POS
in
the
first
one
being
like
classical
Unchained
proof
of
steak,
which
is
peercoin
black
coin.
These
were
like
the
first
adapters
of
POS
and
then
a
sub
variation
is
delegated
proof
of
stake,
which
is
similar
adaptations
not
important
right
now
and
as
a
second
branch.
B
As
a
stream
of
thought,
you
have
the
Byzantine
fault-tolerant
agreements,
which
is
Timmerman
stellar
and
there
you
also
have
variations
of
it.
So
Kasper
is
going
to
be
sort
of
a
variation
of
the
Byzantine
fault-tolerant
agreements
good.
So
far,
there
are
like
other
challenges,
so
miners
have
their
challenges
right.
They
need
to
pursue
like
super
expensive
basics
and
they
have
to
catch
a
transaction.
So
now
there
are
like
new
challenges
for
forgers
validators
or
we
can
call
it
like
mining
2.0
because
it's
like
an
upgrade
so
basically
the
purp
ability.
B
So
if
you,
if
you
are
not--
a
computer
and
you
download
the
client-
and
you
want
to
start
being
a
validator
and
proof
of
stake,
the
probability
on
which
you
are
going
to
get
a
transaction
to
validate
depends
on
how
much
stake
coins
you
have
right.
So
your
staking
your
coins
and
depending
on
how
much
wealth
you
have
in
that
way,
you
are
going
to
either
validate
or
not
validate
a
transaction.
B
So
basically
the
more
coins
you
have,
the
higher
the
probability
that
you're
gonna,
validate
and
also
your
node
has
to
be
online
24/7
and
some
coins
POS
coins.
Coinage
is
important,
so,
even
if
you
go
online
for
one
second
you're
blocked
for
30
days,
for
example,
only
afterwards
you
participate
in
this
lottery
of
getting
to
validate
a
transaction.
So
this
is
where
pool
of
stake.
Basically,
a
new
kind
of
pool
was
created.
B
It's
actually
super
exciting,
because
today
we
launched
our
website.
This
was
a
lot
of
work,
but
we
managed
to
launch
the
website-
and
this
was
founded
by
three
italian
guys
that
are
very
active
in
the
italian
crypto
community
and
yeah.
Basically,
they
saw
where
the
general
trend
of
the
market
is
going
and
tried
to
already
catch
that
trend,
so
I'm
just
gonna
dive
shortly
into
the
technical
aspect
or
like
how
how
a
pool
of
stake
could
actually
work
and
then
we're
gonna
continue
with
Casper.
So
basically,
this
is
Bob.
B
B
He
makes
a
transaction
and
this
smart
contract
immediately
initiates
a
transaction
back
of
an
IOU
token,
which
means
that,
basically,
you
are
always
in
control
of
your
coins
of
your
POS
coins
and
you
don't
need
to
trust
the
pool
you
don't
have
to
rely
on
somebody
else
making
a
transaction,
because
a
smart
contract
is
doing
that
for
you,
and
this
is
also
like
a
new
thing
that
the
pool
it's
not
a
centralization.
It's
not
a
centralized
node,
but
it's
running
fully
on
smart
contracts
on
the
native
POS
joint
chain.
B
So
step
number
two
is
that
so
now
the
POS
coin
has
been
referred,
transferred
into
the
PSK
smart
contract,
and
then
what
happens
is
that
the
pool
starts
forging
right.
The
pool
has
a
bigger
network,
weight
start
forging
and
it
starts
creating
tiny
little
rewards
and
for
these
tiny
delivery
words,
Bob
gets
daily
and
I
owe
you
back.
So
basically
he
gets
a
credit
and.
B
So
the
bigger
the
pool,
the
bigger
than
that
work
weight
the
higher
the
rewards,
because
you
know
the
higher
probability
to
validate
the
transaction-
and
this
is
for
POS
coin
holders
great
opportunity
to
not
just
let
your
wall
like
coins
rotten
in
your
wallet
but
to
stake
them
and
to
generate
passive
income.
So
this
is
basically
what
we're
currently
working
on
from
today.
Our
website
is
online,
so
have
a
look
if
you're
interested
and
now
we're
gonna
continue
with
Assyrian
Casper.
B
So
if
you're
in
Casper
has
been
circulating,
this
ghost
has
been
circulating
since
2014
already
in
2014,
vitalik
and
the
others
started
working
on
it
and
it's
been
really
confusing.
I,
don't
know
if
any
one
of
you
try
to
catch
up
on
it,
but
there
was
a
lot
of
like
conflicting,
also
information
coming
up
so
now,
after
DEFCON
3.
There
is
some
clarity.
Finally,
and
that's
what
we're
gonna
talk
about
so
in
the
first
implementation,
so
Casper
you
always
hear
about
F
F
G
C
BC.
What
is
that?
So?
B
It's
important
to
understand
there
is
a
two-step,
it's
a
two-step
singing.
The
first
step
is
the
Friendly
finality
gadget,
which
is
a
hybrid
POV
POS
system,
because
obviously
a
theorem
is
a
massive
eco
system
and
you
don't
want
to
make
like
this
huge
step
at
once.
You
want
to
slowly
transition,
so
that's,
basically
what
the
Frenchie
finality
gadget
is
for
and
we're
gonna
dive
into
that
one,
because
it's
already
enough.
You
know
it's
good
to
understand.
First,
this
one
and
then
the
second
implementation
with
which
is
going
to
take
place
later
at
the
later
stage.
B
It's
going
to
be
the
pure
POS
consensus
algorithm,
which
is
correct
by
construction,
and
maybe,
if
it
helps
you
a
little
bit
to
remember
it,
talak
was
mainly
working
on
the
FFT.
The
Ferengi
finality
gadget-
and
that
was
the
main
like
designing
the
CBC
correct
by
construction,
so
we're
gonna
focus
now
on
the
friendly
finality
gadget.
B
It's
important
to
understand
it's
a
smart
contract,
it's
just
a
smart
contract
which
is
a
POS
layer
on
top
of
the
regular
P
owt.
So
the
PLW
team
continues
as
regularly
as
always
so
miners
doing
work
and
they
mine
and
new
blocks
are
being
created.
And
on
top
of
that,
you
have
Casper
the
F
of
T,
which
is
a
smart
contract.
If
some
of
you,
we
all
are
probably
most
of
us
on
earth
right
if
we
want
to
become
a
validator
for
the
F
of
G
we
just
have
to.
B
B
Think
you
had
to
state
like
thousand
five
hundred
es
which
not
all
of
us
can
afford,
but
yeah
I
think
they
have
lowered
the
bar
and
also
really
important
to
mention
here
is
previously
and
older
versions
of
F
of
G
and
was
communicated
that
there
is
going
to
be
like
two
type
of
messages
that
validators
can
send,
prepare
and
commit.
That's
no
longer
the
case.
So
now
you
have
as
a
validator.
So
your
computer
or
your
a
note,
and
you
want
to
validate
the
transaction.
B
The
only
message
type
of
message
that
you
consent
is
a
boat
and
a
vote
has
to
reach
two-thirds
majority
validators
by
weight
means
that
this
2/3
majority
is
not
on
how
many
people
are
actually
voting
on
it,
but
on
the
weight.
So
it
means
on
the
total
amount
of
state
coins
that
they
have
right.
So
you
want
to
achieve
a
2/3
majority
of
staked
coins
and
what
is
also
quite
new
about
FF
Jean
Casper.
What
you
don't
have
in
other
BFT
algorithms
is
that
validators
are
fully
accountable.
B
B
B
The
miners
are
mining,
their
blocks
and
every
50s
block
is
a
checkpoint
and
every
50
blocks
are
a
park
and
basically
the
POWs
miners
just
do
their
regular
work
to
deter
they
mind
and
every
50s
block
the
validators
are
basically
being
cold
and
they're
in
there
said,
like
hey,
let's
vote
on
the
checkpoint
right
on
a
POS
layer
and
they're
doing
that,
and
finality
is
achieved
when
two
consecutive
checkpoints
receive
a
two-thirds
majority.
What
means
finality
finality
means
that
it's
final,
you
can
never
revert
to
history.
You
can
never
go
back
into
that
chain.
B
It's
done
like
right.
This
is
a
very
important
mechanism
against
long-range
attacks.
Basically,
a
long-range
attack
is
when
you
prepare
things
in
a
way
that
are
profitable
for
you,
you
make
a
scheme,
and
then
you
go
back
in
history
and,
for
example,
you
go
back
to
a
point
where
we
have
like
a
lot
of
money
and
all
the
others
are.
You
know
screwed,
so
fine.
B
So
this
is
a
long-range
attack
and
finality
is
a
step
against
long-range
attacks
and
FFG
offers
accountable
safety
where
it
means
that
the
two
conflicting
checkpoints
that
there
are
not
going
to
be
two
conflicting
checkpoints,
mostly
implausible
liveliness,
is
that
you
want
your
network
to
keep
going
like
right.
You
want
to
continue
making
next
blocks
and
you
don't
want
to
get
stuck
somewhere
and
be
like.
Oh
wait.
It's
like
Oh.
What
do
you
think
I
know?
B
B
B
So
now
there
is
a
checkpoint
and
right.
The
validators
have
to
vote
so
the
validators
submit
their
boats
data,
the
miners
received
the
value-added
votes
and
the
miner
start
doing
their
work,
they're
working
and
that
justified
checkpoint.
It
got
like
a
two-thirds
majority,
or
in
that
case
it's
a
3/4,
because
it's
extra
validators
and
one
right
so
so
the
point
got
a
majority
and
it
got
justified.
Yay
miners
can
continue
working
in
between
here.
You
you
should
imagine,
there
is
like
50
blocks
of
pure
mining,
going
on.
B
B
So
now
again
we
have
the
next
checkpoint
and
the
validators
submit
their
votes
when
they're
submitting
their
votes.
It's
always
important
that
they
refer
to
the
correct
source
and
to
the
correct
target
which,
if
you
later
read
further
into
Casper,
it's
gonna
make
it's
gonna,
be
important,
so
yeah.
So
the
miners
continue
mining
and
tada.
B
We
have
a
justified
checkpoint,
the
second
justified
checkpoint
and
we
have
here
a
finalized
checkpoint.
So,
as
we
see,
we
had
two
consecutive
checkpoints
in
a
row
received
2/3
majority,
so
this
one
got
finalized.
So
after
this
one
we
can
never
go
back
again
in
history.
Oh
we
can,
but
it's
extremely
expensive.
So
it's
not
lucrative
to
go
back
in
history
and
yeah
things
continue
exactly
so.
This
is
basically
FFT
more
or
less.
It's
really
just
a
smart
contract.
Pos
smart
contract
on
top
of
the
regular
PLW
work.
Okay.
B
So
what
is
really
important
about
FFG,
except
for
the
voting,
is
the
slashing
conditions.
I,
don't
know
if
you're
right
into
the
slashing
conditions,
but
there
has
been
a
lot
of
rumors
like
who,
like
super
strict,
slashing
conditions
like
loaders
validators
can
lose
their
steak.
The
steak
get
burns.
Oh
it's
so
strict!
You
know
you
make
a
mistake
and
everything
is
lost.
So
yeah
that's
pretty
much,
it
misconduct
is
being
penalized
and
this
is
a
security
measure
because
in
other
POS
coins,
until
now,
you
only
rewarded
good
behavior
right
and
black
coin.
B
Everyone
behaved
well
and
they
got
their
rewards
and
everyone
was
happy
and
then
it
was
this
one
evil
person
like
and
he
didn't
get
penalized
for
the
evil
behavior
right.
So
this
poses
a
threat
to
the
computer
network
and
that's
why
we
have
to
slashing
conditions
in
FFG
the
first
one
being
no
double
vote.
B
So
basically,
if
I'm
a
validator
and
we're
having
our
justified
check
like
hey,
for
which
checkpoint
shall
we
go
and
I
secretly
vote
on
both
that's
not
possible,
like
I'm
getting
slashed
and
the
second
one
is
no
surround
bot
which
is
I'm,
gonna,
explain
it
with
the
visuals,
because
then
it's
easier
to
understand.
But
basically,
if
somebody
misbehaves,
if
you're
a
validator
and
you
sneakily
try
to
cheat,
then
your
deposit
gets
burned
right,
which
is
super
expensive.
It's
lost.
B
It's
gone
like
why
it's
not
being
redistributed
so
basically,
why
it
gets
burned
is
that
it
makes
the
cost
of
an
attack
even
higher.
So
a
lot
of
economic
incentives
to
behave
in
a
good
way
to
the
network
and
the
second
one
is,
as
I
mentioned
already
earlier
right.
We
have
to
like
control.
Everyone
knows
what
the
others
are
doing,
accountability,
so
somebody's
acting
evil
and
the
idea
is
ones
like.
B
B
B
B
The
miner
is
gonna
construct.
My
in
the
next
block
and
honest
validator
is
happy
because
he
gets
a
rapport,
a
reward,
but
what
happens
next
is
that
boom
the
evil
people
get
slashed
and
they
lose
their
deposit
and
it's
burned
and
they're
out
of
the
game
so
super
expensive.
This
is
the
no
double
vote,
which
is
already
quiet
sufficient
to
keep
the
network
going
and
to
incentivize
validators
to
be
honest,
and
there
is
a
second
slashing
condition
which
is
sort
of
yeah.
So
it's
a
second
slashing
condition
is
no
surround
vote.
B
So
basically,
let's
assume
that
here
we're
I'm,
evil,
validator
I
want
to
like
create
chaos
and
network.
So
what
I
can
do
and
I
don't
want
to
lose
my
funds
right,
I,
don't
want
to
lose
all
my
staked
coins.
So
basically
here
is
a
justified
checkpoint
and
there
is
vote
I
vote
here
and
then
I
go
offline.
You
know
so.
I
didn't
double
vote
here
on
the
same
height,
I
have
included
two
formula.
Maybe
some
of
you
are
super
like
quick
on
formula,
that's
a
from
the
Casper
paper.
B
So
basically
what
it's
actually
saying
is
that
and
then
the
validator
cannot
vote
on.
Two
distinct
votes
and
that
they
always
have
to
be
within
the
span
of
the
other
boats.
So
basically
I
cannot
vote
here
and
go
offline
here
then
vote
here
and
then
later
wrote
here
because,
like
that,
I
would
actually
double
vote
right.
So
we
see
like
two
chains
and
I
participated
in
both
votes.
That's
not
how
it's
working!
B
C
B
D
B
C
B
I
think
that
buggy
notes
I
mean
if
you
have
the
the
client
running
on
your
note
and
you've,
you
don't
interfere
with
a
coat
nothing's
gonna
happen.
Like
I
mean
there
is
like
full
accountability
and
if,
for
example,
there
was
a
buck
in
the
Syrian
coat,
then
obviously
you're
not
gonna
get
slashed,
but
for
your
code
to
be
buggy,
you
have
to
take
care
that
it's
buggy,
because
otherwise
it's
not
gonna
happen.
So
then
you
basically
yeah
interfered
with
your
note.
E
E
B
Yeah,
basically,
we
basically
F,
so
you
were
asking
whether
we
continue
to
have
the
same
situation
with
P,
o
W
and
we're
just
putting
a
layer
on
top
of
POS,
but
we're
not
solving
the
real
quiet-like,
the
real
problems
that
POWs
posing
okay.
So
yes,
but
we
also
have
to
be
aware
that
this
is
a
very
risky
transitioning
and
that
you
as
a
ecosystem,
have
to
take
care
of
everything
that
you're
changing
and
the
fundament
of
your
architecture
is
going
to
go
right.
C
B
The
first
question
you
were
asking
was
the
issue
of
scalability
and
whether
POS
is
actually
solving
the
question
of
scalability
and
it
is
to
a
large
extent.
So,
for
example,
a
cerium
is
going
to
introduce
the
sharding
as
a
scalability
issue,
but
charting
is
directly
connected
to
POS.
You
cannot
have
a
shorting
mechanism
with
PLW.
You
can
only
have
it
with
POS,
so
basically
with
sharding,
they
want
to
increase
it.
B
Look
to
like
I,
don't
know
how
many
thousand
transactions
per
second
and
in
POS
/
is
a
bi,
have
introducing
an
easier
possibility
to
become
a
note.
You
can
have
much
more
notes,
and
so
the
transaction
is
not
that
heavy
working
and
by
getting
away
of
this,
basically
work
being
done.
You
can
ensure
much
much
higher
transaction
rate
per
second,
so
the
code
or
like
the
algorithm
is
giving
that
possibility.
But
how
like
the
different
chains
implemented
and
what
actually
then
gonna
happen?
It
depends
also
on
every
chain.
B
So
it's
not
easy
to
speak
of
POS
as
such
because,
as
I
already
showed
earlier,
there
are
a
lot
of
sub
variations
and
it's
PFT
delegate
proof
of
stake
whatever
and
then
the
first
question
that
you
had
is
whether
it's
solving
this
issue
of
centralization
to
a
large
extent.
So
it's
obviously
gonna
pose
like
different
questions.
So
I
said
like
peeled.
Pos
is
solving
most
of
the
question
of
the
problems
of
POV.
B
Not
all
I
said
that,
and
basically
yes,
so
basically
now
I
think
75%
of
the
entire
Bitcoin
network
resides
and
data
centers
and
China
and
Iceland,
and
wherever
so
75%
and
data
centers.
That's
not
very
decentralized
right.
So
with
POS
you
can
have
like
all
of
us.
We
can
become
notes
and
POS
right.
We
just
have
to
have
a
computer
which
has
enough
RAM
space.
We
have
to
have
stable
internet
connection
more
or
less.
B
B
Yeah
yeah,
so
you
have
CPU
and
GPU
I'm,
just
right
now,
just
generalizing
so
yeah.
So
the
price
there
has
been
a
huge
market
shortage
of
a6
or
CPU
GPU,
and
the
cost
right
now
is
like
a
10,000.
So
if
you
want
mine,
you
first
have
to
invest
that
certain
amount
and
then
hopefully
you
get
to
actually
mine
a
transaction.
So
there
is
like
real
life
problems
to
that.
B
A
A
B
A
very
good
question:
I'm
gonna,
repeat
it
for
the
life
Broadcasting.
So
basically
you
said
why
is
availability
so
important
right?
We
can
just
sum
it
up
like
that,
so
why
is
availability
so
important?
The
answer
to
that
could
take
very
long,
but
I'm
gonna
try
to
keep
it
short.
So,
basically
imagine
that
you
are
in
the
checkpoint
situation,
you're
like
okay,
so
who
is
going
to
mine
who
is
going
to
validate
the
next
block?
B
And
then
you
say:
okay,
you
go
and
then
sunny
you
go
offline
and
like
oh,
no,
who
is
gone
who's
gonna.
Do
the
next
valid
validation
right.
So
that's
why
you?
Basically
the
coin
age
issue
is
sort
of
an
incentive
to
take
care
that
you're
always
available
and
that
when
you
get
to
validate
a
transaction
you
are
actually
there,
like.
You
have
taken
care
of
your
connection
basically
and
having
a
availability
of
it's
again.
An
issue
of
network
security
and
Santa's
ation
stuff,
like
that.
B
I'm
not
gonna
repeat
that
for
the
live
streaming,
yeah
you're
totally
right
and
it's
always
a
matter
of
design
choices.
So
a
certain
set
of
design
choices
has
been
taken
and
what
you
were
just
suggesting
is
also
possible,
but
then
this
is
a
different
set
of
design
choices.
Maybe
we
can
just
talk
about
it
afterwards,
yeah,
okay,
so
when
one
more
Maurice
you're
peeking.
B
They're
super
welcome
to
become
validators.
Things
like
like
I
mean,
for
example,
imagine
that
situation.
You
are
a
regular
guy,
more
or
less,
and
you
want
to
start
mining
and
you
have
to
invest
like
ten
thousand
dollars.
You
have
to
set
up.
So
it's
a
lot
of
like
costs,
and
then
you
have
invested
all
that
money
and
suddenly
it's
taking
ages
until
you
can
get
to
miner
transaction
and
it's
not
very
profitable,
so
maybe
currently
in
the
test
net.
It's
still
expensive.
But
let's
say
you
at
some
point:
you
decide.
B
Okay,
I'm
gonna
stake
a
certain
amount
of
eath
and
I'm
becoming
a
validator,
and
by
that
you
get
the
possibility
to
Forge
and
by
forging
you
get
daily
or
not
daily
rewards,
that's
PSK!
So
with
forging
you
get
every
time
you
basically
validate
a
transaction.
You
get
the
fee
of
the
transaction.
So
that's
another
way
to
generate
to
make
money.
Basically,
and
it's
a
in
the
long
run.
It's
gonna
be
more
lucrative
or
more
easy
for
regular
people
that
don't
own
the
farm,
a
data
form
yeah.
B
Okay,
so
I
think
the
two
questions
are
now
over.
Please
yeah,
okay,
so
a
lot
of
things
we
didn't
I'm,
just
gonna
wrap
up
so
that
you
we
all
remember
together
what
we
were
talking
about.
So
we
talked
my
POV
is
not
sustainable.
We
talked
buy
a
POS.
What
POS
actually
is
proof
of
stake?
How
mining
2.0
works
like
with
the
14?
Also
thanks
for
these
questions,
we
discussed
the
two
components
of
Casper
me
being
FF
G
and
C
BC.
B
B
I
really
asked
and
I
said:
yeah
I
asked
on
Wednesday
and
he
didn't
reply
so
I
hope
it's
fine
for
you
and
what
we
did
not
cover
is
the
POV
PLW
attack
resistance
of
POS,
so
you
can
always
have
that
condition
where
miners
and
foragers
like
validators
collide
and
then
that's
another
messy
situation.
We
did
not
cover
that.
Then
you
have
to
correct
the
construction,
which
is
the
second
step
of
kaspar.
We
did
not
talk
about
that.
One
charlie,
we
mentioned
it
shortly.
B
Sharding
is
part
of
CBC
and,
most
importantly,
we
didn't
talk
about
the
etherium
governance
issues
which
obviously
I'm
mostly
interested
in,
but
that
would
be
another
separate
talk.
So
here
you
can
also
have
the
presentation
afterwards,
a
few
like
really
interesting
sources
where
you
can
get
all
the
information
and
because
our
three
founders
are
Italian
grazie,
Mille.