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From YouTube: Web3 infrastructure at Slush: Fluence & IPFS
Description
Let's gather to get an in-depth look into the latest research & tech insights from the decentralized and open source projects. You'll learn about the developments in web3 storage and computing as well as scaling decentralized infrastructure.
The event is supported by the Ethereum Finland community.
Talk, Tom Trowbridge, Fluence Labs, https://fluence.network/
Talk, Vukasin Vukoje, Protocol Labs, https://protocol.ai/
Link to the event https://web3slush.eventbrite.com
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Okay,
wow
so
happy
everything
is
back
to
life,
slush
back
to
life
and
our
nordic
startup
community
communities.
Here
super
vibrant
super
happy.
Today
we
are
talking
about
web
3
and
specifically
about
web
3
infrastructure,
and
we
have
two
awesome
projects.
One
is
fluence
project
and
another
is
protocol
apps,
which
is
ipfs
and
filecoin.
So
we
will
hear
from
two
speakers
today
and
let's
thank
our
host
today.
It's
wonderdog
willie.
Maybe
you
want
to
say
a
few
words.
F
Yes,
definitely
so
great
to
an
honor
to
be
the
host
for
this
very
interesting
and
sort
of
a
hot
topic
that
we
have
here
served
for
today
and,
like
I
said
in
the
beginning,
there
is
lots
of
drinks,
I'm
pretty
sure
that
we
cannot
consume
everything,
don't
take
it
as
a
challenge,
but
you
can
find
more
from
there
and
from
this
sort
of
back
door
as
well.
F
There's
some
salty
snacks
sweets
available
and
for
those
who
had
the
pizzas
in
the
first
go
lucky
you,
but
there
will
be
more
coming
in
say
around
50
minutes,
so
no
worry
there.
You
will
get
something
to
buy
as
well
and
yeah,
that's
all
from
the
official
part,
of
course,
yeah.
One
thing
I
forgot
for
those
attending
this
live
meeting
for
those
coming
online.
F
F
Yes,
first
we
drink
anything.
Then
we'll
go
there
to
sauna.
Hopefully,
don't
fall
asleep
and
if
we
all
survive
that
game,
then
there's
the
karaoke
sauna
is
on
yeah
and
one
thing
I'll
promise
not
to
sing
in
the
karaoke
and
oh
excellent,
but
yeah
so
great
to
have
so
many
faces
here
and
we
were
actually
able
to
fit
into
this
sort
of
main
area
as
well.
I
think
I
have
talked
already
too
much
it's
time
for
the
real
experts
to
come
and
hop
on
the
board
and
let's
welcome
our
first
speaker.
G
Thanks
very
much,
I'm
gonna
put
my
water
here.
It
doesn't
jeopardize
the
whole
rest
of
the
the.
G
Thank
you,
everyone
for
coming.
Let's
see
we
get
that
full
screen
there.
We
go
great
just
just
as
a
question,
so
I
can
kind
of
calibrate
my
comments.
A
little
bit,
people
hear
how
many
web
two
no
web.
Two
ever
is
everyone
here
web
three.
G
I
need
some
hands
who
here
is
involved
in
web
three,
some
who
here
is
involved
in
web
two,
a
bunch,
okay,
everyone
and
every
who
here
is
involved
in
blockchain,
which
is
not
necessarily
the
same
thing?
Okay,
all
right,
so
we've
got
some
some
levels
of
familiarity
all
right.
Well,
I'm
gonna
be
talking
about
web
three
and
kind
of
talking
about
it
at
a
high
level.
Some
of
this
you
will
know
in
fact,
some
of
this
everybody
know
piece
of
this,
but
I
hope
no
one
has
thought
about
it.
Quite
this
way.
G
So,
let's
see
so
first
first
quick
background
of
me
co-founder
of
fluence,
which
is
where
we're
here
talking
about,
I'm
also
on
the
board
of
stronghold
digital
mining,
which
is
a
environmentally
beneficial
bitcoin
miner
listed
on
the
nasdaq,
and
I
helped
found
and
put
together
hedera
hashgraph
hbar,
which
is
an
enterprise
grade.
Blockchain
governed
by
enterprises,
so
this
is
kind
of
the
map
of
what
we
want
to
talk
about
quickly,
which
is
why
peer-to-peer
and
then
kind
of
how
peer-to-peer
and
why
not
blockchain,
because
peer-to-peer
is
not
the
same
as
blockchain.
G
I
want
to
talk
about
that
because
that
gets
conflated
a
lot
and
then
open
source
is
the
answer
for
those
web
two
that
that's
that's
more
targeted
to
you,
the
web,
three
people,
it's
probably
pretty
pretty
self-explanatory,
and
then
how
does
crypto
fit
in?
And
that's
maybe
this
audience
understands
that
pretty
well
given
the
blockchain
component.
G
So
first
I
want
to
talk
about
big
tech
censorship,
and
so,
if
you
have
paid
attention,
the
news
you've
seen
more
and
more
stories
about
the
totalitarian
governments
really
clamping
down
on
dissent
via
the
large
technology
platforms,
and
so
we've
arrived
at
internet
that
has
consolidated
into
you
know,
primarily
one
social
platform,
primarily
one
search
engine.
G
Primarily,
you
know
a
handful
of
of
hosting
providers
and
that
has
basically
been
a
convenient
place
for
totalitarian
governments,
primarily
to
exert
influence
and
censorship,
and
so
a
lot
of
examples
of
your
kind
of
the
neighboring
country
from
where
we
are
right
now:
censoring
not
only
political
opponent,
navalny,
but
also
you
know,
google
taking
applications
off
that
allow
people
that
kind
of
help
people
vote
also.
G
This
clearly
happens
in
china
quite
quite
quite
substantially,
but
what's
interesting,
it
doesn't
just
happen
in
totalitarian
governments,
india
is
the
largest
democracy
in
the
world,
and
india
has
had.
You
know
significant
made
significant
headlines
by
exerting
extreme
pressure
on
twitter
and
also
what's
app
threatening
executives
with
jail
if
they
didn't
comply
with
taking
down
the
accounts
of
opposition
politicians
or
just
accounts
that
were
providing
narratives
counter
to
what
the
government
wanted,
and
this
goes
beyond
even
governments
in
their
own
countries.
G
You
know
claimed
inadvertently
to
ban
images
related
to
that
incident
in
countries
other
than
china,
like
germany
and
the
uk
and
france,
and
they
claimed
that
was
human
error.
We're
not
sure,
obviously,
if
that's
the
case
or
not,
but
just
shows
that
the
censorship
extends
quite
beyond
just
these
countries.
G
Beyond
censorship,
though
there
also
is
a
real
stranglehold
from
an
infrastructure
perspective,
and
so
60
of
the
web
is
estimated
to
be
hosted
by
amazon,
google
and
by
microsoft
azure.
So
that's
that's
60
of
the
cloud,
and
I
guess
that's
not.
Six
percent
of
the
web,
but
60
of
the
cloud
which
is
a
lot
of
the
web,
is
done
as
hosted
by
those
companies
and
they're
growing
revenue
at
about
50
percent
a
year
to
grow
revenue
at
50
a
year.
G
You've
got
to
be
doing
something
very
right
or
very
wrong,
and
they
are,
you
know
clearly
doing
that,
because
they're
providing
a
service
that
people
like,
but
they
also
have
provided
something
that's
very
hard
to
leave,
and
so
these
proprietary
platforms
are
very
difficult
to
get
out
of
once
you're
into
them,
and
the
data
isn't
easily
transportable.
G
You
have
a
difficult
time,
moving
from
one
to
the
other
and
as
an
example
of
this.
This
data
is
a
little
bit
old,
but
lyft
pays
estimates
about
14
cents
per
ride
to
aws
that's
about
how
high
their
hosting
costs
are,
which
is
substantial
and
so
small
companies.
It's
a
big
benefit
because
they
can
enter
into
these
ecosystems
without
the
upfront
cost
of
actually
developing
all
this
code
themselves
in
the
backend
infrastructure,
but
and
big
companies
like
samsung,
which
quite
publicly
has
extricated
themselves
from
aws,
have
the
resources
to
do
that.
G
This
is
parlor,
and
you
know
we
may
not
like
parlors
politics
and
they're,
clearly,
not
by
sort
of
by
no
stretch
are
they
providing
the
human,
the
good
for
the
world
that
say,
chinese
dissidents
are,
I
would,
I
would
argue,
but
it's
still
remarkable,
that
a
business
of
that
size
can
be
shut
down
with
no
warning
and
no
redress
for
terms
of
service
violation,
and
that
just
shows
the
power
that
these
companies
have
and
that
they
exert.
G
And
so,
even
if
you
don't
think
you
have
any
risk
of
being
shut
down
because
you're,
not
you
know
allowing
some
kind
of
negative
content
on
your
site,
you,
if
you're
an
executive,
you
can't
help
but
be
aware
of
this
power
that
these
centralized
hosting
providers
can
exert
over
your
business
and
just
knowing
that
can
change
your
your
actions.
And
if
one
thing,
if
this
centralized
infrastructure
resulted
in
flawless
execution
but
centralized
infrastructure
leads
to
vulnerabilities
and
that's
what
centralization
that's
a
problem
with
centralization
right.
G
You
have
your
benefits
of
scale
but
also
risks
of
scale,
and
I
think
all
of
us
experience
the
whatsapp
and
facebook
outage
of
a
at
this
point.
G
A
couple
months
ago-
and
that's
you
know
for
for
me-
and
for
others-
I
guess
it's
been
an
inconvenience
but
there's
plenty
of
businesses
in
the
world,
particularly
in
emerging
markets
that
rely
on
whatsapp
to
perform
their
daily
functions,
and
there
are
even
government
and
agencies
again
in
in
you
know,
outside
of
some
of
the
western
world
that
really
rely
on
these
platforms,
and
so,
when
those
actually
go
down
that
has
real
world
implications
and
real
world
issues.
That's
not
the
first
time
these
things
have
gone
down.
G
They
go
down
both
because
of
and
can
go
down
for,
malicious
intent,
but
also
just
because
of
human
error
and
failures.
And
that's
what
happens
when
you
have
centralized
systems.
They
are
vulnerable
to
either
they're
tempting
attack,
targets
and
they're
vulnerable
to
mistakes,
and
we
see
this
again
and
again
and
again
with
these
platforms,
and
is
this
the
internet
we
signed
up
for
tim,
berners-lee's,
internet
and
the
sort
of
the
real
architect
of
the
web.
This
was
most
assuredly,
not
what
he
had
in
mind.
G
But
the
problem
is
that
scale,
the
internet
rewards
scale
and
as
users
we
like
convenience,
and
so,
when
you
have
users
that
gets
you
more
revenue,
you
then
can
market
more
make
a
slicker
ui
get
more
users
and
that
flywheel
is
very
hard
to
beat
and
then,
on
top
of
that,
we'd
rather
not
go
to
10
different
websites
to
buy
things.
We'd
rather
not
go
to
10
different
search
engines
and
that's
just
human
nature.
G
G
You
go
back
to
the
east
india
company
in
holland,
right
they
were
integrated
with
the
government
more
or
less
you
go
back
to
ibm.
It
was
with
you
know,
as
tight
with
government
railroads
were
in
the
u.s
right
so
telcos
clearly,
so
whenever
companies
get
big,
they
have
to
interact
with
government
and
vice
versa,
and
if
they
don't,
they
can
be
really
targeted
by
governments
and
then
shareholders
revolt
throw
out
the
management.
G
New
management
will
come
in
that
will,
then
you
know
toe
the
government
line,
and
so
you
end
up
with
the
but
the
difference
now
is
you
have
these
businesses
that
have
much
more
broad
impact
in
our
worlds
than
just
transport
or
import
or
commerce?
There's
commerce,
there's
media
and
there's
all
kinds
of
interaction
that
they
can
dominate
and
there's
never
been
kind
of
riskier
or
more
consequential
businesses
for
governments
to
have
control
over,
and
so
how
did
we
get
here?
G
You
know
we
started
off
in
the
world
of
mainframes
and
desktops
everybody's
kind
of
familiar
with
this
web
1.0,
and
that
was
that
kind
of
started
started
everything
and
then
kicking
and
screaming
people
moved
the
cloud
platforms
and
originally
people
thought
well
gee.
I
want
to
host
my
own
data,
it's
cheaper,
it's
a
bit
more
secure
and
then
everyone
realized.
Actually,
maybe
the
cloud
is
cheaper.
Maybe
it's
not
my
core
business.
I
should
outsource
this.
G
So
over
20
years
people
moved
to
the
cloud
platform,
and
I
remember
I
was
actually
invested
in
web
data
centers
back
in
the
mid
90s
late
90s
and
it
was
a
struggle
to
get
companies
to
move
on
to
them
fast
forward,
and
these
are
the
biggest
most
profitable
businesses
in
the
world
pretty
much
well,
what's
what's
the
future,
it's
peer-to-peer
platforms
and
peer-to-peer
platforms
are
the
next
generation
of
the
web
and
they
are,
I
think,
inevitable
and
frankly
we
we
need
to
have
them,
but
why
are
they
inevitable
because
they
have
better
scalability,
higher
security
and
better
resilience,
and
so
there's
no
centralized
bottlenecks,
single
points
of
failure
and
they're
much
more
censorship
resistant.
G
So,
let's
go
into
each
one
of
these,
so
peer-to-peer
can
scale
faster,
and
why
is
that?
Because
it's
decentralized
open
architecture,
so
it's
effectively
a
marketplace
of
hardware
hosting.
So
when
prices,
when
there's
demand
for
lots
of
hosting
pricing
goes
up,
what
does
that
mean
people
around
the
world
can
contribute
hardware?
G
What
does
that
do
drives
prices
down,
so
you
could
there's
no
company
that
can
react
as
fast
as
a
global
marketplace
to
meet
demand
needs,
and
so
I
think
anyone
in
the
peer-to-peer
infrastructure
world
can
contribute
hardware
to
the
network
and
the
price
and
the
price
of
those
resources,
and
the
price
of
it
will
obviously
respond
to
that
that
that
addition
of
resources-
and
so
you
also
have
a
precisely
kind
of
infinite
precision
in
terms
of
pricing
where
people
that
want
incredibly
high
resilience,
multiple
locations,
multiple
geographies
can
pay
for
it.
A
G
G
What
this
means
is,
we
may
end
up
with
a
world
of
one
browser
as
well,
but
let's
hope
it's
something
like
brave
or
something
that's
open
source.
So
you
can
see
it.
You
understand
how
the
algorithms
work
and
people
can
opine
and
edit
and
change
and
move
them,
and
it's
not
happen,
and
it
doesn't
happen
in
an
opaque
environment
and
same
with
same
with
the
shopping
algorithm
or
same
the
social
media
algorithm
for
sure,
and
so
what
type
of
traction
do
we
have
in
peer-to-peer?
G
Well,
we
have
traction
and
payments
right.
That's
bitcoin,
it's
ethereum!
It's
all
the
crypto!
Everyone
here
knows
in
blockchain,
that
is
a
big
market
right.
It's
over
two.
What
two
and
a
half,
almost
three
trillion
right
now
and
tens
of
billions
of
dollars
a
day.
So
I
think
it's
safely
say
that
peer-to-peer
payments
is
functioning
and
then
storage.
E
G
Know
terrific
co-hosts
here
as
well,
have
demonstrated
and
blazed
the
path
in
terms
of
decentralized
storage
that
is
clearly
functioning
and
the
numbers
are
very
large
in
terms
of
what's
hosted,
and
that
is
on
a
trajectory
straight
upward
and
so
those
two
pieces
are
solved.
But
the
piece
that
hasn't
yet
been
solved
is
the
compute
piece
and
that's
the
red
piece
at
the
bottom,
and
when
you
have
a
compute
engine
and
you
add
that
to
storage-
and
you
add
it
to
payments,
you
now
have
a
disaggregated
cloud
competitor.
G
I
think
a
lot
of
people,
particularly
in
the
blockchain
web
3
space,
have
assumed
it
has
to
be
on
chain,
but
it
doesn't
and
I'm
going
to
talk
about
in
a
second
you
know,
but
first,
why
now
and
it's
because
I
think
we're
at
time
where
the
technology
has
evolved
to
actually
allow
this,
and
we
can
talk
about.
G
Fluence
is
built
that
actually
shows
this
is
functioning,
but
you
also
have
the
awareness
at
a
pretty
much
all-time
high
of
censorship
and
of
self-sovereign
identity
importance
and
of
personal
data
ownership,
and
I
think
people
now
have
seen
that
and
the
web
3
movement
has
made
it
very
clear
that
there
is
a
really
core
group
of
people
very
concerned
about
these
issues
and
ready
to
do
the
effort
to
adopt
it.
That
wasn't
the
case
five
years
ago
right.
It
wasn't
the
case
a
year
ago
or
two
years
ago.
G
Yes,
but
it's
grown
substantially
and
I
think
we'll
will
continue
continue
to,
and
this
is
just
a
quick
point
that
web3
applications
don't
have
to
be
blockchain
based
all
right.
We
think
of
them
as
being
peer-to-peer
and
peer-to-peer
is
not
synonymous
with
blockchain
and
if
you
think
about
blockchain
in
general
consensus
overhead
is
generally
high
and
obviously
there
are
layer,
two
solutions
and
there's
you
know
solutions
like
hedera
that
are
far
faster
and
cheaper.
G
But
it's
still
you
don't
most
applications
don't
require
that
consensus,
but
you
ideally
have
an
application
that
if
you
need
consensus-
and
you
want
that
trustlessness
you
can
plug
it
in
and
use
it,
but
by
default
you
don't
require
it.
I'm
going
to
be
quick
on
the
open
source
bit
here.
Open
source
is
the
answer.
I
hope
that
isn't
too
much
too
much
of
a
controversial
statement
here.
This
was
a
traditional
crypto
conference.
G
I
don't
think
I'd
even
have
to
have
these,
but
given
we
are
at
slush
and
there's
a
lot
of
proprietary
technology
here,
I'll
just
mention
for
a
second
just
a
fun
fun
thing
to
talk
about,
which
is
brooks
law,
which
is
kind
of
a
fun
thing,
which
is
that
if
you
have
a
software
project
which
is
late-
and
you
add
engineers
to
it,
you
make
it
later
and
and
that's
that's
really
a
function
of
the
the
communication
overhead
which,
when
you
have
a
team
every
person
you
add
to
that
team.
G
The
communication
increases
by
the
square
of
that
edition
sort
of
a
reverse
of
of
kind
of
metcalfe's
law,
but
anyway.
So
that's
why
we've
been
centralized
the
complexity
of
centralized
systems
being
built,
and
so
you
know
this
is
I've
taken
this
from
eric
raymond's,
the
the
cathedral
and
the
bizarre
and
the
bizarre
being
the
way
in
which
the
terrific
code
being
built
and
all
these
platforms
that
everyone
knows
and
uses,
I
hope,
but
open
source.
G
You
know,
despite
being
terrific,
has
an
issue
in
terms
of
modernization,
and
so
we,
in
some
sense,
are
in
the
golden
age
of
open
source
monetization,
with
15
publicly
traded
over
that
over
with
over
a
billion
dollars,
but
there's
two
models:
one
is
you're
open
source,
but
you
have
hosting,
and
people
pay
you
to
host
the
open
source.
But
that
means
as
a
as
a
ceo,
you
have
to
build
all
of
this
hosting
infrastructure
and
that's
complicated
has
nothing
to
do
with
the
software
code.
You're
writing
the
other
open
source.
Monetization.
G
For
this-
and
you
can
do
that,
but
also
now
you're
hiring
teams
and
paying
them
and
it's
incredibly
complex
and
has
nothing
to
do
with
your
core
business
of
building
software,
and
so
even
with
those
terrific
successes
in
the
open
source,
world
90,
plus
percent
of
projects,
still
struggle
for
funding
and
are
reliant
on
grants
and
donations,
and
so
you
know,
and
even
companies
that
are
open
source
and
do
monetize.
The
cloud
still
takes
their
code
puts
it
on
their
system
and
charges
for
it
and
so
marie
db.
G
You
know
I've
heard
an
estimate
that
marie
b
thinks
that
amazon
gets
about
a
billion
dollars
of
revenue
from
mariadb.
That's
just
one,
you
know
open
source
database
company,
and
so
that's
what
these
that's
what
these
web
web?
These
clouds
do.
So
innovation
suffers
because
all
these
businesses
require
cloud
services
and
there's
no
way
to
to
really
get
them
easily
outside
of
this.
G
So
what
a
better
model
is
is
is
the
fluence
model,
and
so
what
fluence
does
is
it
has
this
peer-to-peer
service
network
right
of
ho
of
nodes
that
host
code
completely
open
network
where
anyone
can
join
the
network
and
or
leave
the
network,
and
then
it
has
it
takes
that
takes
place
of
the
the
marketplace
dynamics.
G
I
was
referencing
earlier
and
then
we
have
a
programming
language
called
aqua,
which
is
the
first
language
for
peer-to-peer,
workflows
and
applications
that
allows
native
composition
of
peer-to-peer
applications
and
that
allows
easy
composition
of
applications,
which
is,
you
know,
makes
life
obviously
much
simpler
for
developers.
G
G
So
if
you
write
a
module
or
some
open
source
code,
you
upload
it
onto
fluence,
and
you
have
with
that,
a
a
payment
that
you
will
request
or
or
conditional
for
a
host
that
hosts
your
code
to
pay
you
importantly,
if
they
host
it,
this
isn't
a
donation,
it's
not
a
grant
and
it
is
paid
based
on
use.
If
no
one
uses
your
code,
you
don't
get
anything
if
people
use
it.
The
host
via
smart
contract
automatically
some
portion
of
his
hosting
revenue
goes
to
you.
G
We
don't
think
this
will
cause
open
source
developers
to
buy
boats
and
in
airplanes,
but
they'll
be
small,
but
there
will
be
revenue
that
will
be
generated
from
this,
which
will
support
open
source
developers,
and
so
there
is
plenty
of
margin
in
hosting
for
some
small
piece
of
it
to
go
on
a
seamless
fashion
to
the
original
host.
Now,
could
people
copy
this
code
and
host
it
for
free
because
it's
open
source?
Yes,
but
we
think
that's
not
unlike
kind
of
check
marks
on
twitter
they'll
be
verified.
G
The
host
will
get
value
from
having
verified,
authenticated
modules
that
come
from
the
original
author,
and
so
the
end
users
will
only
see
the
hosting
fee
they'll
just
compare
hosting
fees
like
they
do
on
current
platforms
right
now
and
when
they
pay
that
some
piece
will
go
to
the
original
software
author,
some
of
which
can
be
monetized.
G
That
then
leads
to
more
unique
and
interesting
applications
that
are
possibly
built
on
fluence,
which
leads
to
more
people
using
fluence,
which
leads
to
more
code
being
posted
on
fluence,
and,
ultimately,
you
get
a
innovation
cycle
that
no
centralized
company
can
beat
aws
could
pull
whatever
they
want
right
and
host
and
charge
for
anything
they
want,
because
it's
open
source,
but
they
won't
be
able
to
operate
at
the
speed
and
depth
of
the
global
developer
community,
and
so
that's
what
we're
very
excited
about
and
how
does
crypto
fit
in
well
three
ways
payment
allows
and
this
again,
I'm
guessing
in
this
audience.
G
I
don't
have
to
you
know,
tell
how
great
crypto
is
it's
some
other
audiences
that
is
a
little
bit
different,
but
immediate
trackable
transactions,
no
minimums,
but
really
thinking
about
this.
If
you're
hosting
in
pick
your
country-
I
don't
know-
maybe
you're
right,
you're
right,
you're,
writing
code
in
senegal
and
you're
the
host
is
in
the
u.s
and
the
user
is
in
europe.
You
know
what
currency
you're
going
to
use
and
you
can
maybe
denominate
in
dollars
as
an
american.
G
I
can't
help
but
mention
that,
and
that
seems
fine
to
me,
but
paying
for
that
or
you
can
use
a
credit
card
bank
statement
depending
on
the
payments.
That's
difficult.
Do
you
have
chargebacks
or
you're
taking
credit
risk
with
crypto?
You
can
do
this
simul.
You
can
do
this
immediately
with
no
counterparty
risk
in
almost
limitless
denominations,
and
I
think
that's.
That
is
why
crypto
is
the
future
for
payments,
as
I
think
most
people
here
would
understand.
G
It
also
helps
for
governance,
and
you
know
fluents
and
others
are
governed
by
a
dow.
That
means,
if
you
own
a
coin,
you
have
a
vote
and
that's
democratic
and
inclusive
and
allows
people
to
help
govern
this
protocol
have
an
ownership
in
it
and
actually
participate
in
its
success
as
well,
and
that
is
also
unusual
and
different
from
most
other.
G
You
know
traditional
traditional
models,
and
even
if
some
of
that
governance
is
a
bit
is,
is
corrupted
because
open
source
people
can
govern
it
even
outside
of
it,
so
that,
if
there's
multiple
levels
of
protections
built
into
it,
when
you
have
this
type
of
model
and
then
finally
crypto
helps
from
funding
perspective,
because
the
dow
has
a
treasury
and
the
more
people
think
a
project
is
successful.
G
The
higher
value
the
treasury
will
be
that
provides
more
value
to
give
developer
grants
to
encourage
the
ecosystem,
encourage
building
the
more
building
the
more
likely
the
successful.
The
more
likely
the
success
of
the
project
and
protocol
is
the
higher
their
value.
There
is
in
the
dow,
the
more
there
is
to
fund
and
you
get
another
virtuous
cycle
going
on
as
well,
so
that's
also
very
hard
to
beat
so
that
is
that
wheel,
which
you've
seen
before.
So
you
know:
where
do
we
think
this
leaves
us
well?
G
Peer-To-Peer
is
the
future
and
we
think
that
compensation
for
open
source
really
works
when
it's
based
on
use
and
when
it's
a
you
know
kind
of
a
transparent
funding
mechanism
that
people
really
don't
even
need
to
see
or
to
pay
for
explicitly
and
the
protocol
that
can
enable
this
type
of
infrastructure.
Maybe
it's
fluent.
Maybe
it's
not.
G
Maybe
someone
else
figures
out
a
better
model,
but
someone
that
figures
this
out
will
create
a
global
network
and
a
global
developer
ecosystem
that
no
centralized
company
can
compete
with
and
when
you
do
this
by
the
way
things
that
will
be
built,
that
we
can't
imagine,
because
the
amount
of
modules
and
amount
of
people
working
to
build
interoperable
code
and
projects
will
allow
a
level
of
innovation
that
we,
I
think,
have
difficulty
imagining
and
so
I'll
close
with
just
a
question
about
what
kind
of
world
do
we
want?
G
Do
we
want
three
companies
really
controlling
internet
hosting
and
do
we
want
content,
monitored
and
controlled
by
nation
states
with
huge
barriers
to
building
anything
independently?
I
don't
think
so.
That's
definitely
not
the
model,
I
don't
think
any
of
us
want
and
so
peer-to-peer
open
source
and
crypto
economics
is
pretty
much
the
only
chance
we
have
and
the
only
architecture
that
can
compete
with
these
centralized
dominant
companies
right
now.
That's
it
there's
no
other
way.
G
I
can
think
of
to
compete
with
these
massive
companies,
and
so,
if
you,
you
think
that
then
support
web3
host,
contribute
and
follow
and
help
us
and
help
everyone
empower
the
next
wave
of
internet
innovation.
Thank
you.
D
Thank
you
so
much
tom.
Does
anyone
have
questions.
G
A
Really
enjoyed
your
talk
very,
very
impressive.
First
of
all,
thank
you
for
such
an
impressive
talk,
and,
secondly,
some
countries
like
china
and
india,
for
example,
have
been
trying
to
push
back
against
this
peer-to-peer
kind
of
things,
including,
but
not
limited
to
cryptocurrency
and
blockchain
technologies.
G
You
know,
I
think
companies
companies
will
certainly
push
back
on
it.
I
think
you
know
china
is
the
largest
example
of
that,
and
I
think
what
what
is.
If
you
go
back
to
china,
though
over
its
history,
you
know
china
is
very
slow
to
adopt
gold
standard.
It
stayed
on
the
silver
standard
for
an
incremental.
You
know
30
50
years
that
actually
slowed
its
development
down
dramatically.
G
It
lost
almost
a
generation
of
development
as
a
result,
so
they
don't
have
a
history
of
having
making
the
best
choices
in
some
of
these
areas,
the
world
can
develop
and
this
whole
infrastructure
can
develop
without
them.
So
I'm
not
super
worried
about
that.
I'm
india,
being
a
democracy-
and
I
is-
is
a
bit
of
a
different
story.
I
know
there
are
continually
bills
put
forward
to
try
to
eliminate
or
prohibit
cryptocurrency
transactions
in
india.
G
I'm
optimistic
those
won't
pass,
because
india
is
obviously
a
very
big
market
for
all
of
this
and
the
people
vote,
and
so
I
think,
just
taking
a
step
back.
That's
why
I'm
also
confident
the
u.s
every
day
that
goes
by
where
there
is
no
draconian
legislation.
The
u.s
has
a
day
of
further
adoption,
further
use
and
higher
value
where
voters
actually
own
it,
which
make
it
very
difficult
for
government
in
the
us
to
un
roll
it
back
every
day
that
goes
by
where
india
doesn't
do,
it
makes
it
harder
to
do.
G
A
G
Are
waiting
for
clarity,
and
so
even
if
there
are
rules
put
in
which
we
view
as
stifling
potentially
you
know,
I'm
seeing
massive
hypotheticals
here.
That
could
still
encourage
a
lot
more
adoption,
because
at
least
there
are
roles
and
guidelines
for
people
who
perform
companies
in
particular
to
enter
into
the
space.
So
somewhat
of
an
answer.
D
Quiet:
okay,
thank
you
so
much
tom
again
and
let's
welcome
the
next
speaker,
vocation
from
protocol
labs
and
there's
also
ipfs
and
icon
projects.
He
will
tell
about
it
now.
We.
I
H
Hey
my
name
is
luke.
I'm
gonna
talk
about
like
a
layer
of
abstraction
under
what
we
discussed
so
far,
so
I'm
gonna
talk
about
like
in
general,
like
how
all
of
this
happens
on
the
physical
machine
and
that
machine
usually
is
either
on
the
data
center
or
those
machines
are
like
the
clients
that
we're
using,
which
are
like
mobile
phones
and
so
on.
So
a
bit
about
myself,
so
I
spent
most
of
my
past
four
years
building
tooling
in
the
web
free
world.
H
H
I
led
smart
contracts
and
tokens
for
a
year
fun
experience
and
then
I
joined
the
protocol
labs
just
because
I
thought
that
like
storage
was
not
really
at
the
point
where
we
needed
us
humanity
to
have
it,
and
just
trying
to
like
contribute
a
bit
there
from
like
defy
world
that
was
pretty
well
off
some
random
stuff
that
they
also
did
is
builds
like
offline
social
networks
and
spent
a
bunch
of
time
on
kubernetes
and
docker
so
where
we
are
today
with
the
data
center.
H
So
basically,
we
have
like
a
couple
of
yeah,
as
as
this
was
highlighted
before
we
have
like
a
couple
of
like
major
cloud
providers
that
are
basically
owning
most
of
the
data
centers
today,
like
the
reason
for
that
is
that
either
they
are
using
those
resources
internally,
by
like
training,
big
machine
learning
models
or
yeah,
should
they.
H
So
yeah,
like
most
of
the
data
centers
today,
are
basically
managed
by
big
tech
and
either
they
are
using
those
resources
internally
to
like
train,
very
big
models
with
our
data
like
without
telling
us
like
google
photos
and
or
they
are
like
renting,
that
through,
like
the
cloud
providers
that
they
have,
and
basically
it's
that,
like
you,
just
have
like
the
big
tech
companies
that
are
branding
the
infrastructure
that
they
have
like
it'll
and
not
you
using
it.
Yeah
like
I
can
do
even
without
like.
H
H
But
yeah
the
reason
for
that
is
that,
like
the
normal
traditional
data
centers,
which
are
like
naturally
real
estate
businesses,
they
are
not
tech
businesses.
So,
basically
those
are
like
owning
a
bunch
of
infrastructure.
They
are
thinking
about
fiber.
They
are
thinking
about
like
the
data
center
physically,
where
the
things
are
going
to
be
stored.
H
Also,
racks
electricity
like
signing
deals
for
good
electricity
and
so
on,
and
they
couldn't
of
course,
compete
with
google,
amazon
and
the
other
ones
that
have
basically
taken
that
infrastructure
and
abstracted
that
away
with
a
bunch
of
development
tools
that
made
initially
the
lives
of
developers
a
bit
easier,
and
then
they
made
like
building
things
much
faster.
Now,
probably
the
life
of
developers
it's
harder,
but
it's
easier
for
them
to
scale
some
particular
things
and
they
manage
to
like
convince
the
rest
of
the
world
that
this
is
the
way
to
do
it.
H
Because
of
that
they
are
capturing
a
lot
of
value,
but
they're
charging.
For
that.
Like
incredible
amounts
like
that,
are
not
like
linked
at
all
with
the
infrastructure
that
they
are
providing
us
like,
even
based
on
like
moore's
law
like
the
prices
are
not
going
down
like,
and
we
are
sure
that
the
moore's
law
is
is
actually
working
so
yeah.
That
unfortunately
happened,
but
even
the
worst
is
that
yeah.
H
Basically,
all
of
the
human
entities
data
is
like
probably
managed
by
less
than
10
companies,
and
that
happened
because,
like
as
a
developer
you're,
not
even
aware
of
what
you're
doing
europe
default
using
some
cloud
provider
and
that
cloud
provider
is
storing
that
on
some
infrastructure
that
a
particular
legal
entity
is
owning.
H
And
then
you
have
either
google
aw
or
the
other
folks
at
the
top
of
department
that
are
actually
like,
controlling
and
owning
that
even
worse
than
that,
is
that
basically,
development
tools
that
are
built
by
developers
that
are
not
like
aws
and
google
and
cloud
provider
developers
are
building
development
tools
on
top
of
those
development
tools
and
like
now,
it's
so
hard
to
like
change
that
because,
like
you
have
like
layers
of
abstractions
that
are
like
just
there
and
we
think
that
those
are
useful
for
us
but
like
we
have
like
no
clue
what's
going
on
at
the
end
of
the
day
and
at
the
end,
like
the
root
layer
that
everything
is
running
on
is
those
virtual
machines
that
are
running
like
on
those
cloud
providers
and
yeah.
H
This
is
basically
putting
us
in
a
spot
where
I,
as
a
developer.
If
I
start
to
developing-
and
I
think
anything
by
default-
that's
going
to
be
on
the
cloud
by
default,
like
I
can't
like
develop
like
an
app
without
saying
yeah,
sure
I'm
going
to
use
firebase
or
I'm
going
to
use
some
other
like
database
solution
that
I'm
not
managing
myself.
H
If
I
do
that,
I'm
probably
going
to
get
fired
because,
like
yeah
unfortunately
like
that,
that's
the
way
that
people
are
thinking
about
it
today
and
to
a
degree,
that's
true
because,
like
at
the
beginning,
you're
trying
to
reduce
your
risk
of
like
building
something
in
time
with
little
resources
so
like
the
cloud
is
actually
like
helping
a
lot
in
in
that
period,
but
layer
is
becoming
like
less
valuable
completely,
but
then,
like
also,
the
challenge
of
changing
from
the
cloud
infrastructure
to
something
that
is
not
cloud
is,
is
difficult,
especially
web
free
because,
like
in
web
free
you're,
not
gonna,
basically
just
move
that
migrate.
H
That
from
like
web
2
to
web
free
like
the
economy,
is
going
to
be
completely
different
if
you're
building
something
on
webfree
you're
building
a
web
free,
app
you're,
not
like
converting
a
web
2
up.
Similarly,
that
happened
in
the
beginning
of
the
internet.
We
had
like
people
that
were
like
scanning
like
yellow
pages
and
thought
that
that
was
a
good
idea.
H
Yeah
it
turned
out
not
to
be
that
useful.
We
had
like
better
tools
for
that.
The
same
is
going
to
happen
for
web3.
We
are
not
going
to
be
converting
those
apps
that
easily
it's
going
to
be
completely
different
because
you
will
want
to
have
like
those
users
participate
in
those
networks,
maybe
like
on
the
data
they
have
maybe
have
ways
of
capturing
some
of
the
revenue
that
is
generated
by
the
network
with
that
data
and
yeah,
bringing
back
like
that
ownership
to
the
users.
H
So
yeah,
as
I
mentioned
some
some
of
the
very
like
big
issues
with
the
centralized
infrastructure,
is
that
at
the
end,
you're
going
to
have
like
a
legal
entity
that
is
basically
owning
your
data
and
any
tool
that
is
actually
using
that
cloud
provider
is
also
going
to
be
like
giving
that
ownership
to
someone
else.
H
Unfortunately,
while
we
decentralized
infrastructure,
what
we're
trying
to
do
is
we're
trying
to
have
like
equal
playing
field
where
we
have
like
many
participants,
including
like
data
center
operators,
developers,
users
that
can
actually
like
benefit
from
the
network
uniformly
and
also
because
we
are
able
to
like
bake
in
like
the
rules
of
the
protocol,
so
that,
like
everyone
that
is
participating
in
that
network,
has
like
aligned
values.
We
are
not
trying
like
to
to
build
like
something
something
that
is
better
than
something
else.
H
We
are
trying
to
build
the
ecosystem
where
we
have
like
many
participants,
and
everyone
is
trying
to
like
think
about
how
to
participate
in
that
and
generate
value
because,
for
example,
if
I'm
a
storage
provider
miner,
however,
you
want
to
call
it.
My
objective
is
to
onboard
as
much
storage
as
possible.
H
I
get
more
rewards
if
I
store
like
useful
data,
so
I'm
incentivized
to
do
that,
and
that
is
perfectly
aligned
with
what's
the
value
for
for
the
entire
ecosystem,
because
if
I
have
like
useful
data
on
the
network
that
can
be
used,
then
I'm
going
to
have
other
applications
that
are
like
consuming
that
data
and
a
lot
of
value
is
going
to
be
generated
in
the
process.
Also,
very
important
is
that,
like
the
development
tools
are
like
for
everyone,
those
are
for
the
ecosystem.
H
Those
are
not
built
for
every
cloud
provider
like
uniquely
like
what's
happening
right
now,
instead
of
like
building
something
just
for
my
employer,
which
might
be
aws
or
google,
I'm
building
that
for
everyone,
and
then
everyone
can
build
on
top
of
that,
and
that
has
like
compounding
effects
that
are
very
hard
to
imagine
right
now,
but
before
we
get
there
like
what
we
need
to
do
is
like
we
need
to
cover
a
couple
of
things.
H
Of
course,
I'm
just
going
to
try
to
cover
one
today
because,
like
they
are
very
like
large
as
well
like
the
other
ones.
The
one
that
I
want
to
focus
on
is
like
how
do
we
actually
like
orchestrate
this
in
the
data
center
and
what
does
that
actually
mean
and
how
it
really
looks
in
the
data
center,
so
the
objective
is
to
like,
of
course,
reduce
the
barrier
to
entry
to
participate
in
that
network.
H
The
only
model
that
you
had
so
far
is
rent,
those
for
like
a
monthly
fee
or
or
rent
the
entire
data
center
to
google
or
whoever
else
now
you're
able
to
like
basically
start
like
running
an
operation
that
is
like
contributing
to
the
web3
like
ecosystem
and
in
that
way,
what
we're
trying
to
do
is
just
lower
the
barrier
just
make
it
as
easy
as
possible,
so
that
maybe
like
a
data
center
in
germany
that
is
very
good
at
optimization,
but
very
bad
that
software
can
actually
like
just
onboard
the
entire
data
center.
H
This
is
very
hard
today,
like
because
we
are
just
at
the
beginning
where,
like
even
like,
on
boring
storage
is
not
that
trivial.
Since
the
launch
of
the
network,
which
happened
like
a
year
ago,
this
improved
act
in
it
x,
but,
like
it's
still
very
hard,
then
you
need
to
do
some
orchestration.
So
another
very
interesting
thing
is
that,
since
those
like
data,
centers
need
to
have
like
skin
in
the
game,
in
the
sense
that,
if
you're
throwing
like
they
are,
that
was
a
like
stored
by
a
particular
search
client.
H
You
can't
like
disappear
like,
and
that
is
like
a
possibility
like
if
you
are
doing
like
a
peer-to-peer
network
that
is
focused
on
storage
like
who
guarantees
that,
like
I'm,
not
gonna,
go
offline
like
fine.
I
got
some
revenue
from
the
rewards
so
far,
but
like
tomorrow,
like
the
entire
data
center
goes
like
bankrupt
and
I
go
offline
that
shouldn't
happen
so
because
of
that,
we
have
like
very
high
collateral
requirements
that
those
data
centers
need
to
put
in
when
they
are
like
comparing
storage
to
the
network.
H
So
they
need
to
have
like
a
lot
of
tokens
that
are
that
are
there
as
collateral
in
the
case
of
that
particular
storage
operator
or
going
offline,
because
of
that
they
are
not
going
to
likely
go
offline
because
someone
else
could
actually
like
buy
their
infrastructure
and
make
sure
that
they
obey
the
storage,
deals
that
they
have
signed
and
then
only
go
offline
and
off-board
that
storage
from
the
network,
but
because
of
that,
it's
very
hard
for
those
data
centers
to
actually
finance.
H
So
what
we
are
trying
to
do
is
massage
that
a
bit
where
we
are
not
risking
too
much,
but
we
are
allowing
people
to
like
leverage
a
bit
their
selves
and
like
grow
faster,
the
network,
but
we
are
doing
that
in
a
smart
way
where
we
are
basically
like
tracking,
like
what's
happening
on
those
actual
machines
like
collecting
a
lot
of
logs
and
trying
to
figure
out
like
where
does
a
surge
provider
that
actually
is
a
reputable
one
that
will
not
go
offline.
H
If
that's
the
case,
then
we
can
like
just
offload
that
risk
to
someone
else,
like
maybe
a
default
user
that
wants
to
do
like
revenue
share,
or
we
can
like
just
on
board
the
institutional
investor
into
it,
yeah
so
where
we
are
today
like.
We
have
13
exabytes
of
data
that
wasn't
boring
in
the
past
year.
This
this
is
enormous
like
compared
to
the
cloud.
H
The
cloud
was
at
one
exabyte
after
a
year
and
a
half
one
exhibit,
and
we
are
at
13
right
now
so
like
it's
around
13
times
faster
growth
compared
to
what
was
happening
with
the
cloud-
and
this
is
not
because,
like
we
did
anything
smart,
it's
just
because
of
the
sheer
power
of
like
having
decentralized
networks,
and
this
happened
like
multiple
times
in
the
crypto
cycles,
like
first
with
bitcoin,
you
have
like
a
bunch
of
people
that
want
to
have
like
crypto
mining
infrastructure.
They
figured
out
that
this
is
a
profitable
business.
H
Of
course
it
was
profitable
for
a
very
short
time
and
then,
like
everyone,
starts
buying
those
machines.
The
same
happened
for
ethereum,
and
then
you
have
like
a
bunch
of
other
like
proof-of-work
networks
that
had
like
that
had
the
basically
the
same
effect
where
they
started
growing
so
fast
exponentially.
H
H
Here
we
are
talking
about
like
having
storage
that
can
actually
be
used,
because
the
way
that
consensus
was
done
for
falcon
was
in
a
way
where
you
have
storage
power.
That,
of
course,
like
helps
do
consensus,
but
storage
power
is
useful,
because
that
means
that
that
sealed
storage
that
you
have
can
actually
be
used
for
something
else.
H
And
because
of
that,
that
requires
some
computing
to
happen
before
the
strategy
is,
is
online
but
yeah
like
just
to
make
things
a
bit
more
simple.
I
don't
know
whether,
like
we
are
technical
here
or
I'm
sure
they
skip
those
slides.
Are
we
technical,
yeah?
Okay?
So,
basically
we
are
going
to
have
like
most
of
the
time,
a
data
center.
Those
machines
are
going
to
have
like
very
different
resources,
so,
like
some
machines
are
going
to
have
like
many
cpus
many
cars.
H
Some
are
gonna
have
like
a
lot
of
memory,
but
not
so
many
cars
and
some
are
gonna,
have
just
gpus,
and
maybe
we
are
gonna
also
have
like
a
few
machines
that
have
like
a
lot
of
hard
drives
that
are
rated
and
have
like
massive
amounts
of
storage
that
are
attached
to
fast
internet
connects
when
you
think
about
filecoin.
H
You
would
think
that
the
falcon
network
runs
something
like
this
on
those
machines,
but
this
is
not
completely
true
and
mainly
because
of
the
things
that
I
just
mentioned
around,
like
the
fact
that
you
need
to
do
some
processes
before
you
can
actually
convert
that
storage
to
the
network,
because,
like
it's
not
just
providing
some
space
on
your
hard
drive
and
hoping
that
that
particular
data
center
is
not
going
to
go
offline,
it's
more
about
like
making
sure
that
this
never
goes
offline
and
that
we
have
proofs
that
this
is
actually
being
stored.
H
All
the
time
so
what's
happening
is
something
like
this,
where
we
are
basically
on
one
side,
doing
the
ceiling
of
the
data,
which
is
on
borrowing
of
the
data
to
the
network.
But
then
we
are
also
proving
to
the
network
every
24
hours
for
every
sector
that
we
are
showing
on
our
infrastructure,
that
the
sector
is
actually
there
that
alone,
like
unlocks,
so
many
possibilities,
because
you're
finally
able
to
prove
in
a
formal
way
that
a
particular
file
was
stored
in
a
particular
time.
H
You
can't
do
that
right
now
with
cloud
providers,
because
it's
mainly
like
in
the
google
drive
and
like
google,
says
that
that
file
was
there
at
that
time.
No
now
you
have
like
a
formal
proof
that
is
stored
on
chain
forever,
that
that
particular
file
was
there.
This,
of
course,
also
allows
us
to
make
sure
that
whenever
someone
goes
offline
or
a
particular
file
is
not
actually
there
or
corrupted
that
we
do
a
lot
of
slashing
just
to
make
sure
that
that
miner
does
never
think
about
like
not
storing
that
because
of
those
requirements.
H
What
naturally
happened
is
that
most
miners
have
like
redundant
power
supplies
a
lot
of
redundancy
on
the
hard
drives
they
have
redundant.
Connections
like
they
have
free
connections,
sometimes
like
two
fiber
one
4g
in
the
case
of
like
the
second
fiber
going
up,
but
on
the
other
side
you
have
also
like
the
ceiling,
which
is
very
complex,
but
maybe
I'm
not
going
to
get
in
there.
H
What's
only
important
to
know
is
that
even
the
sealing
process
has
like
different
resource
requirements
in
different
stages,
meaning
that
those
cannot
be
done
on
the
same
machine.
So
here
you're
going
to
have
like
a
lot
of
communication
between
those
machines
where
basically
it's
going
through,
like
a
high
memory
machine
to
a
machine
that
has
many
cores,
possibly
to
a
gpu
machine
and
then
finally,
to
the
storage
machine
that
is
actually
like,
storing
that
particular
sector
in
a
final
form.
H
What
I
want
to
talk
about
is
like
how
do
we
now
make
this
storage
useful?
Because
so
far
we
are
just
storing
files
and
arrival
is,
of
course,
an
important
thing,
but
like
if
you're
not
doing
any
computing
most
of
the
time
like
you're
gonna
are
high
once
and
you're,
not
gonna
do
anything
else
again
for
a
very
long
time.
This
is
why
it's
called
their
hive
so
like
in
order
to
like
connect
computing.
We
need
to
do
a
couple
of
things.
H
So
on
one
side,
we
need
to
be
aware
about
like
what
is
the
computation
that
is
happening
on
those
networks,
how
that
is
described
by
the
developer
and
so
on.
But
then
we
also
need
to
abstract
away
the
complexity
associated
with
falcon,
because
it
is
hard
like
you
need
to
create
storage
deals.
You
need
to
like
negotiate
storage
deals
with
the
miners.
Those
miners
need
to
accept
those.
You
need
to
have
some
awareness
of
that.
H
Then
you
need
to
have
like
a
sense
of
reputation
like
if
I'm
storing
particular
data
on
a
particular
manner,
and
that
disappears
like
what
happens
then
like.
I
need
to
have
like
at
least
a
sense
where
those
miners
are
located
like
how
much
storage
do
they
already
have
like
do.
They
have
like
any
other
liability
if
they
go
offline
other
than
declare
that
they
would
lose
so
also.
H
Finally,
we
are
going
to
be
getting
more
and
more
traction,
because
a
very
hard
problem
was
all
that
was
like,
basically
like
churning
most
of
the
developers
that
were
trying
to
do
anything
on
the
platform
that
is
called
estuary,
and
that
is
basically
they
are
to
make
sure
that
the
storage
deals
are
made
with
miners
with
high
reputation.
We
have
lists
of
miners.
H
We
are
in
touch
with
those
manners,
also
like
all
those
deals,
are
verified,
meaning
that
those
miners
get
like
more
rewards
because,
like
all
of
the
data
that
is
actually
stored
through
those
estuary
nodes
is
useful
there,
because
that
came
from
either
like
a
third
command
or
it
came
from
some
rest
api
or
like
the
ui
that
we
have.
That
is
actually
talking
to
that
api,
and
you
can
see
here
how
fast
it
is
growing.
H
Currently
we
have
11
million
deals,
sorry
files
that
were
stored
like
grassroots
and
around
70,
000
storage
deals-
and
this
happened
like
in
three
months
now.
The
most
interesting
part
is
that,
what's
going
to
end
up
happening
is
that
we
have
like
those
nodes
that
are
like
running
on
the
same
local
network
and
we
finally
don't
need
to
rely
on
the
internet
and
like
source
things
like
to
ask
free
or
think
about
how
that
is
going
to
be
managed
by
the
cloud
providers.
H
Instead,
we
have
like
the
storage
layer,
which
is
sitting
next
to
the
machines
that
are
doing
computing,
and
that
is
super
fast
because
most
of
the
time
in
data
centers
you're
going
to
have
like
100
gig
connections,
while
the
speed
of
your
internet
connection
is
mostly
going
to
be
like
from
one
gig
to
like
10
gigs,
but
not
much
more
than
that.
H
On
top
of
that,
there
is
a
lot
of
capital
that
is
being
poured
in
like
networking,
mainly
because
of
the
innovation
that
is
happening
in
ai,
where
you
need
a
lot
of
like
bandwidth
between
the
nodes
that
are
actually
computing
those
models,
so
that
is
going
to
be
even
faster
and
even
cheaper,
and
at
the
end,
what's
going
to
happen?
H
Is
that
simply
the
result
is
going
to
be
retrieved
by
the
final
user
just
through
ipfs,
and
the
ipfs
is
available
either
through
like
gateways
that
are
like
very
easy
to
access,
or
you
can
directly
like
call
some
node
that
you're
either
running
or.
E
H
Know
some
node
that
you
want
to
call
but
yeah
one
important
piece
is
missing,
and
this
is
something
that
I'm
particularly
interested
about
and
something
that
I'm
incubating
at
protocol
labs,
which
is
like
orchestration
of
like
those
networks
so
like.
How
do
we
like
make
sure
that
all
of
the
computing
networks
and
all
of
the
networks
that
are
very
special
specialized
particular
jobs,
for
example,
rendering
you
have
like
networks
that
just
do
rendering
nothing
else?
H
How
do
we
make
sure
that,
like
that
orchestration
can
be
done
like
efficiently
on
the
data
center,
but
abstracting
away
completely?
The
the
complexity
are
involved
into
like
understanding
all
those
workloads
as
a
data
center
operator
and
at
the
end
like
what
they
care
at
as
someone
that
is
running
like
a
data
center.
That
is
just
the
capex.
H
For
me,
I
just
care
about
the
revenue
and
they
care
about
like
potential
future
revenue,
and
maybe
I
care
about
the
reputation
that
they
have,
because
that
will,
of
course,
implicate
that
I'm
to
be
getting
more
storage
deals
and,
of
course,
more
revenue.
But
that's
all
I
care.
H
On
the
other
hand,
what
we
care
as
an
ecosystem
is
to
like
finally
bring
back
like
the
ownership
of
the
data
to
the
actual
owner,
which
is
like
the
person
that
is
generating
the
data
and
also
very
important,
but
very
frequently
like
ignored,
is
the
fact
that
this
is
growing
so
fast
that
we
might
be
able
to
scale
hard
drives.
H
But
we
are
not
able
to
scale
like
fiber
optics
and
all
the
infrastructure
that
is
very
hard
to
scale
like
you
need
to
actually
like
put
physical
cables
that
are
like
very
expensive,
very
long
involved,
many
people
and
so
on.
We
can
offload
some
of
that
to
satellites,
but
even
that
is
very,
very
constrained.
H
So
what
we
need
to
do
is
be
a
bit
smarter
on
how
we
are
actually
using
that
infrastructure,
meaning
that
if
I
have
a
particular
file
on
the
local
network,
since
I
know
that
that
file
is
there,
because
I'm
referencing
that
through
the
content
also
known
as
cid
in
the
ipfs
ecosystem,
then
I
don't
need
to
like
retrieve
something
from
the
cloud
and
use
the
internet.
It's
already
there
and
as
those
data
centers
are
growing.
H
That
cloud
providers
are
currently
like
getting
revenue
out
and
create
like
new
business
models,
which
is
not
that
hard
to
understand
because,
like
naturally,
we
are
the
ones
that
are
generating
data
and
we
are
the
ones
that
should
be
like
extracting
value
out
of
it.
But
somehow,
like
because
of
like
a
strange
set
of
circumstances.
We
are
like
in
a
completely
different
realm,
where
we
are
not
like
being
anything,
but
we
are
like
being
with
our
attention,
which
is
like
even
scarcer
than
the
data
that
we're
generating
but
yeah.
H
I
believe
that
in
three
years,
like
most
of
us
are
gonna,
be
paid
to
actually
use
apps
and
by
getting
to
that
point,
and
we
have
like
economy
that
can
support
that
through
falcon
and
the
work
that
fluency
is
doing
as
well.
We
are
going
to
be
able
to
like
earn
by
actually
using
things-
that's
already
happening
in
gaming
with
the
axiom
infinity,
but
it's
not
so
hard
to
to
imagine
also
in
a
generalized
realm
for
everything
yeah.
That
was
it.
H
If
anyone
has
any
questions,
this
is
my
email,
so
yeah
either
ask
there
or
ask.
C
So
I
want
to
ask
about
what
do
you
think
about
the
data
marketplaces
and
so,
of
course,
a
lot
of
the
data
that
people
store
on
like
ipfs
and
this
kind
of
networks?
It
can
be
private,
it
can
be
encrypted.
But
what
what
do
you
think
about
this
kind
of
public
data
that
can
be
bought?
Then?
What
do
you
think
is
going
to
be
the
future
of
that
yeah.
H
I
mean
that's
already
kind
of
happening
like
but
you're,
not
seeing
that
much
usage
like
you're.
Really
I
mean
also,
it
depends
how
we,
like
think
about
that.
Like
I
mean
who
is
the
owner
of
a
particular
data
set,
that
is
open,
like
the
one
that
said,
that
is
the
owner
on
the
network
and
also
it's
important
to
have
like
other
pieces
that,
like
make
sure
that
that
data
is
not
going
to
be
easily
replicated.
H
So
you
need
to
have
like
probably
some
homomorphic
encryption
involved
to
actually
get
to
a
point
where
that
is
very
powerful
and
that
cannot
be
like
somehow
like
maliciously
used,
but
like
also
when
we
think
about
the
falcon
network
in
general,
like
we
are
thinking
more
in
terms
of
like
the
sea
of
data
that
we
are
providing
to
developers
rather
than
like
infrastructure.
H
If
we
can
provide
like
all
the
data
there,
and
we
have
like
very
efficient
ways
of
like
moving
the
data
around
the
network,
the
developer
doesn't
actually
care
about
the
infrastructure
they
just
care
about
that
data
set.
But
we
are
not
yet
at
the
point
where,
like
that,
is
easily
like
being
monetized
other
than
us
incentivizing,
that
with
like
artificial
waste
by
getting
bounties
and
so
on.
But
maybe.
E
Yeah
so
very
interesting
to
kind
of
think
the
powers
there
behind,
like
in
movements
that
that
are
there
like
recognized
like
that
for
the
web
3
and
against
the
tree
and
kind
of
situation,
how
it's
involving
and
like
the
movements
and
the
forces
against
like
this
action,
that
that's
how?
How?
How
would
you
describe
it
like
in
that
way?
Political
way
that
that
that
to
to
succeed
with
with
the
project.
H
G
E
There
that
I
think
you
are
maybe
better,
you
have
the
feeling
from
the
success
possibilities
and
what
what
are
the
like
the
difficult
points
there
and
and
what
it
takes
that,
where
you
see
that
how
the
development
could
go
and
what
are
the
powers
against
like
this
and
what?
What's
far
so
good?
Could
we
have
kind
of
a
that
kind
of
a
some
feeling
did
that
that.
E
G
G
You
I'm
sure
you've
got
views.
Well
I
mean,
I
guess:
gov
regulation
is
certainly
one
but
I'd
say
we're
heavily
there
with.
I
think
it's
p.
It's
a
recognition
of
the
importance
of
data
ownership
and
consumer
and
companies,
interest
and
prioritization
of
that.
That
to
me
is
the
case,
because
you
could
we
don't.
You
could
exist
for
the
next
100
years
in
a
web
2
world.
If
no
one
cared
right,
you
could
do
that.
So
it's
really
a
question
of
people
caring
enough
to
actually
adopt
something
different
and
people
believe
that
people
care
enough.
G
They
put
the
resources
in
to
build
something
that
people
can
adopt
right.
So
it's
those
two
things
where
we
collectively
need
to
recognize
the
dangers
and
challenges
of
web
2
that
make
us
ready
to
adopt
and
ready
to
invest
in
technologies
that
take
us
to
web3
so
that
that's
at
least
my
answer.
You
may
have
another.
H
Yeah,
I
think
it's
going
to
be
a
couple
of
like
forces,
as
you
said,
so
one
of
course
is
like
europe
is
trying
very
hard,
like
I
mean,
even
to
have
like
just
clouds
that
are
running
in
europe
that
that's
also
hard
like,
because
you
need
to
build
that
software
like
and
you
are
keeping
that
close
and
it's
clear
that
the
business
model
is
that
like
build
some
ip
and
try
to
monetize
as
much
as
possible,
even
by
stealing
some
value
that
was
generated
by
open
source
projects.
This
is
redis.
H
This
is
mariadb,
like
that's
happening
all
the
time,
so
europe
started
doing
that.
I
think
we
are
just
gonna
skip
clouds
because,
like
there
is
not
enough
incentive
for
anyone
to
work
on
that
like
for
the
next
five
years
and
actually
like
build
what
aws
and
google
have
today
by
the
way,
aws
and
and
google,
they
have
a
great
tag.
It
is
evil,
but
it's
great
tech
like
it
works
like
it
allows
like
a
developer
to
scale
to
100
million
people
with
a
few
peers
like
in
a
garage.
H
It
works,
that's
amazing,
but
does
that
align
with
the
values
that
we
have?
Probably
not
do
we
want
to
change
those
values
yeah
and
this?
These
are
the
forces
that
are
like
changing
now
like
we're
getting
to
a
point
where
you're
figuring
out
that
this
is
not
what
we
want
like
imagine
having
instagram,
where
you
can
actually
change
the
algorithm.
H
Of
course,
that
is
very
hard
to
do,
because
you
need
to
make
sure
that
someone
is
not
maliciously
generating
data.
So
you
need
to
have
reputation.
You
need
to
have
structures
on
how
you're
throwing
that
on
those
networks,
and
then
you
need
to
have
like
proper
rules
and
like
some
proper
governance
that
is
actually
managing
that
it's
hard,
but
it's
possible
and
when
you
get
to
a
point
where
you're
paying
users
to
like
use
some
apps,
it's
going
to
explode
on
top
of
all
the
errors.
G
H
Just
gonna,
I
don't
have
a
sense
of
how
it
works
so
the
way
we
designed
it
is
just
to
make
sure
that
we
can
cover
like
first
one
part
of
the
market,
which
was
like,
of
course,
the
supply,
and
we
did
a
much
better
job
than
we
should
have
like.
We
don't
need
13
experts,
but
the
way
it
works
is
that,
like
you,
have
like
the
block
reward.
That
is,
of
course
like
bitcoin.
H
It's
a
decrease
over
time
that
is
being
shared
with
all
the
participants
in
the
network,
so
you
have
like
minors
that
are
contributing
like
some
committed
capacity,
for
example
a
hundred
like
terabytes,
and
if
the
block
reward
is
25
fill
and
you
have
like
10
of
those,
they
are
just
splitting
that
in
if
they
have
like
equal
pieces,
the
interesting
part
is
which
gives
us
the
chance
to
like
work
on
those
advanced
economics
models
is
that
we
are
now
able
to
reward
more
for
particular
storage
deals.
H
Those
are
like
storage
deals
that
are
not
just
storage
capacity
that
is
committed,
but
useful
data.
When
you
are
able
to
do
that,
you
could
also
imagine
having
data.
That
is
generated
by
users
that
is
being
rewarded
more
by
the
protocol.
At
some
point,
if
that
happens,
what's
going
to
happen,
you're
going
to
have
the
data
center
operators
actually
fighting
for
that
data
because
they
are
able
to
get
like
more
rewards
for
storing
the
same
amount
of
data.
H
Maybe
it
is
going
to
be
more
usage,
but
that
usage
is
not
as
big
as
the
reward
that
they
are
getting
more
in
the
case
of
just
verified
deals,
which
means
this
is
not
random
there.
This
is
there,
which
is
an
idea,
but
it's
there
like
you,
can
see
it
or
you
can
consume
it
in
a
way
you're
getting
10x
the
rewards.
H
So
if
you're,
throwing
100
terabytes
you're,
actually
throwing
one
one
thousand
drivers
and
want
to
do
that,
and
if
we
make
it
such
that
for
structured
data
is
even
more
aggressive
in
terms
of
incentive
and
we
figure
out
ways
how
to
like
properly
govern
that
you
could
imagine,
like
miners
actually
being
developers
to
actually
build
apps
that
are
like
generating
user
structured
data,
and
then
developers
can
decide
whether
they
want
to
trickle
down
some
of
that
value.
J
Sorry
hi,
my
name
is
daniel.
Just
want
to
ask
you've
got
quite
a
few
people
on
your
platform.
Already
you
have
70
000.
Was
it
contracts
or.
H
Those
are
storage,
deals.
J
H
Yeah
I
mean
like
there
are
two
important
things
to
differentiate,
so
one
is
falcon.
One
is
ipfs,
so,
like
you
have
a
lot
of
users
on
ipfs,
and
this
is
great
and
ipfs
is
the
thing
that
you
use.
If
you
want
to
build
apps
that
are
used
by
the
final
users,
but
then
you
rely
on
filecoin
for
all
the
incentives
and
you're
basically
like
just
are
having
that.
They
are
always
there
so
like
it's
mostly
because
people
don't
want
to
like
rely
on
cloud
providers.
They
don't
want
to
rely
like
on
cdns.
H
They
don't
want
to
rely
on
something
that
is
completely
centralized.
Now
we
are
now
getting
to
a
point
where
they
are
doing
some
more
advanced
things
like
you
have
some
interoperability.
H
You
have
a
way
to
like
encrypt
data
like
in
the
open,
but
then
share
some
keys
with
the
the
colleagues
of
yours.
So
it's
not
anymore,
like
on
the
cloud
provider
encrypted
by
default
by
the
cloud
provider.
It's
now
encrypted
by
the
keys
that
you're
like
managing
and
storing.
H
In
probably
half
a
year,
which
will
open
up
like
even
more
like
the
moment
where
you
are
basically
owning
a
particular
data
set,
and
then
you
can
imagine
data
dials,
where,
like
you,
have
individual
users
that
are
like
owning
a
particular
data
set
that
can
be
in
an
encrypted
form
and
that
can
be
like
only
used
in
a
trusted
environment
and
just
make
sure
that,
like
you're,
not
like
replicating
that
they
are,
you
can
have
like
a
bunch
of
logic.
There.
J
With
your
system,
how
do
you
see
the
impact
of
let's
say
people
who
are
using
scripts
to
run
things
off
of
off
of
your
off
of
your
network?
You
use
the
example
of
xenfinity
early
on
and
that's
one
example
of
people
being
paid
to
use
a
network,
but
on
the
other
hand,
the
next
generation
of
let's
say
blockchain
games
is
all
is
already
showing
signs
of
several
projects
where
the
game's
actually
just
playing
themselves
and
then
the
humans
don't
do
anything
but
watch.
H
Yeah
yeah,
like
bots
and
stuff,
like
that,
you
mean
yeah
yeah,
pretty
much.
H
That's
already
happened
like
on
wall
street
right
like
it's,
not
a
new
thing
so
like
it's
natural
like
that
is
happening
in
d5
and
like
yeah,
it's
more
like
market
makers
than
actually
users.
So
yes,
but
yeah,
like
that's
the
hard
piece
for
us
like
we
need
to
have
like
proper
governance
in
place,
so
that
it
doesn't
happen
that
you
have
like
a
bunch
of
like
bots
that
are
like
building
those
profiles.
So
you
might
require
some
the
central
identity
or
something
like
that,
but
yeah.
H
We
are
very
far
from
that
right
now.
So
also
it's
important
to
differentiate
two
things
like
one
is
like
customer
facing
apps
and
that's
like
the
instagram
of
the
worlds.
But
then
you
have
like
computing
and
like
things
that
are
happening
in
the
data
center,
for
that
you're
gonna
get
like
20x
more
efficient
computing.
H
I
think
that's
enough
like
to
like
convert
like
most
of
like
the
machine
learning
jobs
most
of
the
rendering,
maybe
in
and
you
have
networks
that
are
very
specialized
at
that
and
very
good
at
that.
But
the
issue
that
they
have
right
now
is
that
it's
mostly
retrieving
data
from
the
cloud
and
storing
data
on
the
cloud
and
then
like
serving
that
recipients
so
like
they
are
still
paying
like
most
of
the
fees
for
retrieval
and
storage.
I
Yeah,
I
think
this
is
a
question
for
maybe
both
of
you
but
yeah,
I'm
all
I'm
all
pro
of
the
open
source,
but
you
know
76
percent
of
the
hex
2021
was
related
to
divi,
which
tells
me
that
we
have
been,
unfortunately
over
represented
in
that
space.
So
how
can
we
ensure
still
security
and
trust
for
the
different
entrepreneurs,
because
still
tells
me
that
we
have
a
long
way
still
to
go,
because
this
is
not
a
number
to
be
really
proud
of?
I
H
Can
take
this
since
I
spent
two
years
building
monitoring
for
smart
contracts,
so
yeah
like
first
of
all,
like
always
in
the
beginning,
when
you
have
like
a
new
paradigm.
H
All
the
hackers
of
this
world
are
gonna.
Just
do
that
like.
Why
would
they
do
anything
else?
And
it's
so
easy
to
extract
the
value?
Because
everything
is
open,
so
if
they
do
it
like,
they
just
take
the
tokens
and
sell
them
somewhere
else.
So
maybe
the
last
piece
of
the
transaction
goes
through
like
a
mixer
and
it's
magically
like
it's
clean,
so
you
can
even
put
it
like
right
away.
H
H
Secondly,
because
you're
not
building
like
new
programming
languages
other
than
like
the
workflow,
which
is
like
not
like
for
everything.
It's
just
to
define
like
how
data
is
going
to
be
computing
or
not,
but
are
you
gonna
have
like
hacks?
H
G
And
I'll
just
take
one
other
note
on
that
is
you're
talking
about
a
very
small
piece
of
the
ecosystem.
Overall,
you
take
bitcoin,
never
been
hacked
right,
find
me
a
technology
company,
that's
never
been
hacked
in
the
web.
2
world
doesn't
exist
right,
not
one.
That's
been
around
for
a
decade
right,
so
think
about
that,
and
so
give
these
early
projects
new
languages,
massive
value,
increase,
inexperienced
teams,
blah
blah
blah,
like
there's
lots
of
reasons,
don't
love
it
at
all,
but
this
projects
that
survive
have
done
so
with
a
security.
H
I
mean
yeah,
it
always
seems
to
be
that
we
need
to
be
cursed
by
something
initially
that
was
javascript
now
we
have
solidity
and
I
think
it's
unfortunate,
but
like
probably
that's
like
also
how
things
work
in
general,
like
initially
also
as
a
syrup
you're
trying
to
just
have
a
product
that
is
barely
working,
so
those
like
products
have
like
much
more
chances
of
succeeding,
because
actually
some
people
can
start
using
them
and
if
the
need
is
big
enough,
they
get
to
traction
when
they
have
traction
like
they
are
gonna
solve
the
technical
issues.
H
The
same
happened
with
ethereum
like
it
was
the
first
ones
to
have
smart
contracts.
You
could
do
anything
else.
You
did
not
have
any
other
language
for
enough
time.
That
was
the
case
and,
like
most
of
the
people,
first
built
smart
contracts
on
that,
then
small
opportunities
arise
to
actually
build
tooling.
For
that,
and
then
it's
done
it's
the
same.
H
What
happened
like
in
cloud
providers
like
like,
if
you
build
like
a
new
smart
contract
language,
then
you
need
to
build
all
the
tooling
and
you
need
to
like
attract
enough
people
that
are
going
to
be
writing
that
enough
people
that
are
going
to
be
like
interested
in
business
in
building
businesses
that
are
building
tools
that
are
not
possible
in
the
beginning,
because
you
have
like
100
developers.
D
Okay,
I
hope
you're
all
still
energized
to
continue
networking.
We
still
have
drinks
and
there
will
be
sauna
so
yeah
enjoy
your
evening.
Thank
you.
So
much.