►
Description
You're already well familiar with the design, interaction and development patterns of "normal" web and mobile apps. In this meetup, we shifted the focus to describe what a decentralized app (DApp) actually is from the very top to the nuts and bolts below the surface.
This is intended to help the full spectrum of designers, developers and product people to understand why they might create a DApp in the first place and how that is different than working with web 2 applications. We'll cover the high-level user-facing aspects (like interactions and flows) down to the low-level of the stack (the actual blockchain), so you understand what you're getting into.
We assume you know what a blockchain is.
**About the Blockchain Onramp Series**
Blockchain Onramp is a series of events covering the full spectrum of knowledge necessary to operate effectively within the blockchain ecosystem as a designer, developer or product person. After participating in these events, you should be able to take your functional expertise in any of these areas and apply them to blockchain projects.
We are doing this to provide a key -- and currently missing -- plain-English onramp for people of all functional experience who are interested in building real businesses on this new technology.
The format of each event may differ slightly, but they will be a combination of expert talks and discussions with industry practitioners.
The rough Blockchain Onramp Series roadmap is:
+ Product Series: Ecosystem, DApps, and Strategy
+ Design Series: Onboarding UX, Best Practices
+ Development Series: Developer stack, Building on TestNets, Security, Best Practices
+ Startup Series: Marketing, Business Models, and Fundraising
--- ABOUT THE SPEAKER ---
Erik Trautman leads operations at NEAR Protocol, which is a scalable mobile-first blockchain. He has a long history in technical education: he started in market analysis on Wall Street in 2007, created the popular Odin Project in 2012 and ran Viking Education as its CEO until its acquisition in 2017.
Follow the latest from NEAR Protocol on,
Medium: https://medium.com/nearprotocol
Twitter: https://twitter.com/nearprotocol
GitHub: https://github.com/nearprotocol
LinkedIn: https://www.linkedin.com/company/near...
Telegram: https://t.me/cryptonear
Discord: https://discord.gg/gBtUFKR
#FutureIsNEAR
A
A
A
They
don't
dig
this
up
too
soon,
yep
and
and
so
the
default
question
of
anybody
peering
into
this
space
is
basically
you
know
if
you've
gotten
to
the
point
of
the
word
decentralize
this
application
or
adapt
or
Diop
you're
generally
saying
what
the
heck
is
it
and
why
should
I
build
it
and
if
I
didn't,
if
you
get
further
than
that,
it's
it's.
How
do
you
actually
do
it
and
you
know
there
really
aren't
that
many
resources
out
there
I
can
be
very
hard
to
find
information
I.
A
You
know,
hopefully
again
when
this
is
dug
up
many
years.
That'll
it'll
be
a
different
story,
but
right
now
there's
there
there
is
a
black
hole.
There's
a
lot
of
stuff,
that's
left
over
from
last
year's
frothy
boom
and
it's
not
terribly
helpful.
It's
very.
It's
very
focused
on
how
do
you
make
as
much
money
as
quickly
as
possible?
You
know
throw
some
advisors
up
on
your
website
write.
A
It
write,
write
a
white
paper
and
it's
like
they're
conflating
they're
conflating
blockchains
with
d
apps
with
you
know
all
sorts
of
other
things
and
doesn't
really
make
a
lot
of
sense
and
then
the
other
half
of
things
are
super
technical
guides.
That
tend
to
be.
You
know,
okay.
Well,
so
how
do
I
would
you
know
it
starts
with
the
code
and
then
it
builds
up
and
there's
not
a
lot
of
in
between.
A
I'm
sure
you
guys
will
have
plenty
just
quick
background
on
me,
so
I
I
work
at
near
protocol
and
basically,
what
we're
doing
is
building
a
fully
sharded,
scalable
blockchain
and
we're
focused
on
usability
and
developer
experience,
and
my
background
is
in
education
and
I've
previously
run
an
education
company
in
the
online
space
and
spent
some
time
playing
on
Wall
Street
doing
analytics,
and
things
like
that.
So
this
is
pretty
old
hat
for
me
and
I
really
I,
really
like
being
a
part
of
it
as
far
as
today.
A
So
our
our
road
map
basically
looks
like
gonna
kind
of
start
from
the
high
level
and
work
down
we're
gonna,
be
we're
gonna,
be
talking
a
little
bit
about
the
high
level
of
blockchain
and
decentralization
and
things
like
that.
Hopefully,
we
won't
spend
all
the
time
there
and
then
moving
more
into
the
actual
interaction
of
how
do
you?
How
do
you
touch
the
apps?
How
do
you,
how
do
you
work
with
them
and
then
digging
a
little
bit
deeper
and
looking
under
the
hood?
A
That's
kind
of
how
are
the
technical
flows
set
up
so
diving
in
what
what
is
a
decentralized
app.
So
again,
if
you,
google,
that
it
comes
up
with
some
really
strange
stuff
and
I
mean
all
it
really,
all
you
really
need
to
do.
Is
you
need
to
have
the
app
itself
distributed
across
a
lot
of
a
lot
of
nodes
or
whether
those
are
people
or
whatever?
A
It
is
the
app
the
app
needs
to
run
in
a
distributed
fashion,
and
it
needs
to
store
its
data
in
the
distributed
fashion
and
basically
there
there
can't
be
a
single
point
of
failure
because
otherwise
it's
you
know
it
might
be
distributed,
but
centralized.
So
you
know
the
whole
point
of
a
decentralized
app
here
is.
That
is
that
you
know
there's
no
single
point
of
failure,
things
that
are
not
requirements,
you
don't
have
to
have
an
ICO,
you
don't
even
have
to
have
a
token
and
you
don't
actually
technically
have
to
be
open
source.
A
Although
that's
something
we'll
talk
about
in
the
end,
but
you
know
whether
or
not
you
want
to
be
open
source.
Your
code
is
running
on
other
people's
machines,
and
so
you
know
you
effectively
are
regardless.
So
in
terms
of
terminology,
we
here
adapts
the
EPS
and
smart
contracts.
All
of
that
kind
of
conflated,
smart
contracts
are
really
a
subset
of
what
goes
on
in
adapt
and
I'm.
Gonna
use
the
word
app
I,
don't
have
to
qualify
it
every
time
and
say
D
app,
so
the
the
DAP
is
I
mean
the
app.
A
If
you
think
about
a
web
app
an
app
contains
all
sorts
of
things.
There's
the
front
end.
There's
the
server
side.
There's
the
database
and
you
all
kind
of
you
kind
of
think
of
the
whole
thing
as
the
app
and
the
same
thing
is
true:
with
adapt
I
do
centralize
that
right,
it's
I
mean
the
app
contains
so
much
more
than
then.
You
know
just
the
part
that
touches
the
blockchain
and
that's
the
smart
contract.
A
The
smart
contract
is
is
in
and
we'll
see
this
in
a
little
bit
more
detail,
but
the
smart
contract
is
really
just
a
portion
of
it.
So
it's
very
easy
again,
a
lot
of
language
that
you'll,
probably
find
in
materials
will
sort
of
conflate
the
two
things,
but
the
app
is
adapt
is
much
bigger,
so
the
way
I
kind
of
want
to
do
this.
A
Is
it
just
start
with
web
to
start
with
today
and
just
benchmark
things
on
that,
and
then
we
can
look
at
what's
different
in
in
the
decentralized
world,
and
that
way
everybody
is
on
the
same
page
and
we
have
a
good
ground
to
start
on,
and
so,
if
you've
worked
with
web
to
apps
or
normal
apps,
as
you
can
call
them.
So
you
know
it
has
a
front-end
that
lives
in
either
a
browser
or
on
a
mobile
phone,
or
something
like
that.
A
Your
your
front-end
basically
sends
requests
to
a
server
that
server
talks
to
a
database
and
stores
data,
and
the
server
is
owned
by
one
person.
The
database
is
owned
by
one
person
or
controlled
by
one
person,
practically
speaking
a
lot
of
times.
These
actually
are
made
up
of
distributed
systems,
so
you
know
they
you're.
The
servers
probably
hosted
on
the
cloud
somewhere,
which
is
a
whole
bunch
of
servers
that
are
distributed.
You
know
your
your
database
in
large
companies
like
Facebook
and
things
like
that.
A
A
So
centralization
has
a
lot
of
advantages.
There's
a
reason
why
we've
done
it
this
far
and
and
why
it's
worked
out
so
well.
It's
I
mean
you
have
full
control
over
everything.
That's
going
on.
We,
we
have
a
lot
of
experience.
Building
business
models
that
are
that
are
based
on
the
current
architecture.
I
mean
SAS
SAS
is
is
an
enormously
impactful
business
model.
That's
changed
the
entire
world
in
the
way
that
we
operate
software
and
off
software.
A
It
cost
I
mean
it's
not
that
expensive
to
run
a
web
app
these
days,
we
have
speed,
it's
it's
super
fast
and
another
one
that
that's
maybe
underappreciated
until
you
until
you
start.
Comparing
it
to
the
decentralized
world
is
the
speed
of
iteration
is
super
high,
because,
again
you
just
push
your
code
to
the
server.
All
of
your
server
instances
have
have
all
the
same
code
and
your
user.
The
next
request
that
comes
in
from
some
user
somewhere
is
immediately
going
to
be
running
your
new
code.
That
makes
it
so
you
can.
A
You
can
iterate
your
business.
You
can
iterate
your
app
very
very
quickly
in
a
centralized
fashion
and,
of
course,
one
of
the
things
that
we
all
kind
of
grind
our
teeth
on
is
that
is
that
moats
are
well
understood
from
a
business
perspective
as
well.
We
know
that
if
we
own
the
data,
we
know
how
to
monetize
it,
and
we
know
how
to
prevent
you
from
leaving
the
app,
because
we're
gonna
give
you
a
better
and
better
experience
or
well
yeah.
A
There
are
a
lot
of
ways,
obviously
of
getting
these
apps
and
I
think
we've
all
we've
all
found
them
all
and
some
of
the
downsides
are.
They
tend
to
be
a
little
bit
more
abstract,
and
so
some
in
some
countries
in
some
places
and
some
people
with
some
subgroups.
These
are
very,
very
painful
for
most
of
us,
especially
here
in
this
room.
These
are
probably
a
little
bit
more
abstract.
A
Where
I
mean
you
know,
you
kind
of
hear
you
control
the
guns,
you
control
anything
I
mean
if
they
know
where
to
send
the
people
with
guns
or
the
people
with
lawyers,
or
you
know
the
people
with
handcuffs,
then
then
they
can,
they
can
make
you
do
things.
So
you
know,
let's
say:
hypothetically
Facebook
didn't
want
to
give
up
their
data,
I
mean
if
the
Department
of
Justice
comes
in
and
makes
them
there.
A
They're
gonna
have
to
do
that
and
that's
because
they
they're
a
centralized
company
and
in
order
to
operate
in
this
country
they
have
to.
You
know
they
have
to
play
by
the
law
and
the
law
knows
where
to
find
them.
So
obviously
hacking
is
something
that
everybody's
familiar
with,
and
the
fact
that
the
more
data
you
centralize,
the
more
it
becomes
a
target
and,
frankly
the
more
it
can
become
a
liability
for
you
as
a
company
as
well.
A
A
How
valuable
can
that
data
be
and
we're
all
gonna,
basically
suck
data
out
of
the
user
and
all
their
interactions
and
store
it
in
our
in
our
silos
and
then
exchange
it
with
each
other
and
use
that
to
build
shadow
profiles
for
advertisers
behind
the
scenes
and
things
like
that
and
that's
more
or
less
the
way
that
the
web
works
right
now
is
everything
that
you
do
leaves
this.
This
ripple
effect
of
data
and
everybody
else
is
frantically
vacuuming
it
up
and
paying
other
people
for
portions
of
it,
and
things
like
that.
A
So
if
we
look
at
the
the
difference
on
the
decentralized
side,
so
at
the
very,
very
high
level
architectural
II
I
mean
we
still
need
a
front
end,
we
still
need.
We
still
need
to.
You
know
to
put
the
app
in
browser
on
a
mobile
phone.
Whatever
it
is
right,
I
mean
you
need
to
be
able
to
interact
with
the
app
somehow
I
met,
uses
the
same
set
of
tools
that
you're
used
to
in
the
normal
world,
which
is
you
know,
HTML,
CSS
and
JavaScript.
That
also
has
to
get
served
from
somewhere.
A
It
has
to
find
its
way
to
use
somehow
and
and
generally
we
use.
We
used
conventional
servers
for
that.
So
there's
there's
nothing
too
revolutionary
about
that.
What's
new
about
it
is
that
the
the
front-end
actually
talks
back
to
a
blockchain
instead
of
using
a
database
instead
of
using
a
centralized
database
and
that's
basically
via
the
smart
contract
and
we'll
talk
about
the
wallets
as
well,
and
it
kind
of
goes
via
the
wallet
to
the
smart
contract
to
the
blockchain
and
the
vault.
A
The
smart
contract
is
running
on
the
blockchain,
so
I
guess
it's
a
little
bit
reversed.
It's
to
the
blockchain,
which
runs
the
smart
contract,
but
architectural
is
speaking.
The
real
difference
I
want
to
highlight
is
that
the
database
is
kind
of
out
and
the
smart
contract
talking
to
the
blockchain
is
is
in
oh
and
then
at
the
very
bottom.
A
You
can
see
that
one
of
the
core
benefits,
as
well
as
or
one
of
the
core
differences,
is
that
data
is
generally
being
stored
or
worked
with
on
behalf
of
the
user
and
with
permission
from
the
user.
So
we'll
take
a
look
at
that
in
the
interactions.
So
just
a
quick
thing
to
note:
if
you,
if
you
see
a
lot
of
blockchain
diagrams,
they're,
really
bad
like
they're
wrong,
you
have
a
lot
of
diagrams
that
are
sort
of
squares
in
a
loop
which
doesn't
make
a
lot
of
sense.
A
You,
some
of
them,
do
forking,
which
makes
sense
a
little
bit,
but
they
kind
of
get
wrong.
The
idea,
like
it
kind
of,
gives
you
this
sense
that
there's
some
sort
of
centralized
chain
and
I
think
the
most
important
mental
model
that
you
can
have
is.
That
is
that
this
is
a
distributed
system
with
lots
and
lots
of
individual
nodes
that
make
it
up.
So
each
individual
node
is
actually
running
the
chain.
A
Each
individual
node
is
running
your
smart
contract
and
that's
that's
really
important,
because
that's
what
gives
us
our
decentralization
so
I,
you
know
it's
a
diagrams
are
actually
really
powerful,
because
that's
what
benchmarks
your
mental
model,
at
least
it
does
for
me.
So
it's
good
to
have
a
good
diagram
and
I
will
say
our
designer
has
not
taking
a
look
at
this,
so
this
is
not
I'm
not
qualifying.
This
is
a
good
diagram,
but
at
least
it
gives
you
that
idea.
A
So
so
some
of
the
advantages
are,
you
know,
kind
of
the
flips
of
the
disadvantages
on
the
centralized
side.
There's
there's
a
lack
of
censorship.
You
know
you
also
don't
have
the
same
platform
risk
that
Facebook's
going
to
kick
your
app
off,
because
your
app
kind
of
just
runs
out
there.
It's
it's
kind
of
you,
you
put
it
out
there
and
then
it's
running
on
a
hundred
thousand
or
a
thousand
or
a
hundred
or,
however
many
nodes
and
there's
really
nobody
else
who
can
who
can
mess
with
it?
A
On
your
behalf
and
of
course
everybody
can
see
the
code
that's
running
because
your
code
has
to
run
on
all
of
these
machines,
so
somebody
is
actually
seeing
the
code
you're.
It's
not
hidden,
it's
not
hidden
behind
a
server,
so
you
can
actually
verify
what's
going
on
so
there
are.
There
are
problems.
This
is
this
is
this
is
not
a
me
standing
on
my
soapbox
and
boosting
decentralization
decentralization
comes
with
very
real
costs,
and
it's
very
it's
a
lot
of
people.
Don't
really
talk
too
much
about
this
stuff,
but
it's
absolutely.
A
It
is
expensive,
so
so
on
the
right,
you
can
see
that
the
sort
of
a
conventional
thing
that
they
say
is
you
know
you
can
be
better
faster
and
cheaper
and
you
can
pick
any
two
of
the
or
cheaper
and
you
can
pick
any
two
of
those
and
decentralization
is
actually
a
homeless.
The
opposite!
It's
you
can
you
can
be
better,
you
can't
be
cheaper.
You
can't
be
faster
because
almost
definitionally
when
you're
decentralizing
something
across
many
many
nodes,
each
one
of
those
nodes
is
effectively
running
a
server
of
its
own.
A
So
the
you
know
at
a
minimum.
If
you're
running
a
hundred
nodes,
it's
gonna
cost
you
a
hundred
times
as
much
as
running
on
a
server
that
that
same
amount
of
compute.
If
we're
thinkin
apples
to
apples
so
blockchain
is
not
cheaper.
Blockchain
is
also
not
faster.
I
mean
to
running
something
on
on
an
Amazon
AWS
server,
or
even
just
your
your
laptop
running,
a
webserver,
a
simple
web
server
is
gonna,
be
infinitely
faster.
A
Okay,
exaggeration,
we're
engineers
will
take
we'll
take
issue
with
that,
but
but
I
mean
it's
gonna
be
orders
of
magnitude
faster
than
anything
on
blushing
because
blockchain
it
has
to
not
only
run
the
code,
but
then
it
also
has
to
talk
to
El
all
the
other
nodes
and
agree
that
everybody
ran
the
same
code
and
everybody
got
the
same
result
from
that
code
right.
So
all
that
takes
time.
So
you
know,
whereas
something
will
be.
You
know
single-digit
milliseconds,
to
run
on
a
centralized
server
system
in
the
blockchain.
A
It
could
be
multiple
seconds
I
mean
in
in
in
in
aetherium.
It
takes
14
seconds
or
did
is
a
14,
so
it's
10
at
whatever
it
is
it's
it's
on
the
order
of
14
seconds
that
coin
on
the
order
of
10
minutes-
and
you
know,
platforms
we're
beginning
to
see
an
asymptotic
push
downwards,
but
it
but
there's
just
a
minimum
amount
of
stuff
that
you
need
to
do
on
a
blockchain
to
get
everybody
to
agree.
So
it's
never
gonna
get
to
the
single-digit
milliseconds.
A
You
know
at
best
we're
gonna
be
getting
into
into
sub-second
a
few
other
things
that
are
a
little
bit
less
a
little
bit
less
clear.
I
guess
one
is
just
the
service
side,
so
you
know
if
if
nobody
really
owns
this
app,
so
that's
the
other.
The
other
thing
about
this
is
when
you're
a
developer,
and
you
kind
of
put
your
app
out
there
and
it's
running
on
the
chain
and
you
you
don't
really
control
it
anymore.
A
Technically,
because
it's
running
out
there,
like
you
know,
you
could
get
hit
by
a
bus
and
it'll
still
it'll
still
keep
running,
but
the
problem
is,
is
how
do
you
add
a
service
layer
on
top
of
that?
This
is
something
that
a
lot
of
people
have
struggled
with,
because
there's
there's
a
lot
of
narratives
around
remove
the
middleman.
A
You
know
if
everything's
on
the,
if
everything's
on
the
blockchain,
then
then
we
don't
have
to
pay
Airbnb
to
list
our
houses,
but
the
problem
is
what
goes
wrong
when
somebody
comes
to
your
house
and
they
trash
it,
you
want
services,
you
know
what
goes
wrong.
You
know
what
happens
if
you
lost
your
password.
So
services
are
actually
a
valuable
thing
that
we
haven't
really
figured
out
how
to
tie
those
back
to
a
decentralized
app
because
who
provides
the
services
and
how
do
they
get
compensated
for
that,
and
then
privacy
is
the
other
thing
again.
A
Blushing
doesn't
solve
privacy,
it
doesn't
solve
privacy,
it
doesn't
solve
the
right
to
be
forgotten
and
things
like
that
I
mean
your
data
lives
out
there
and
it's
an
immutable
record
and
it's
and
it's
an
append-only
database,
so
it's
back
there
somewhere.
So
these
these
aren't
resolved
issues.
Despite
what
you
you
know
what
you
may
have
heard
and
what
might
be
written
out
there.
So
these
are
definitely
open
questions.
A
Thus
far.
The
real
question
is:
is
it
worth
the
trade-off
right
like?
What's
worth
me
spending
you
know,
spending
more
money
and-
and
you
know
taking
more
time
and
thus
far
we
found
money.
Definitely
so--but
Bitcoin
is
still
the
killer
app.
You
know,
store
a
value
right
now.
Originally
it
started
as
a
transactional
thing.
Now
it's
more
of
a
store
value
thing.
A
You
have
someone
like
Ripple
doing
doing,
of
a
transactional
thing
on
optimizing
for
cross-border
transactions
and
kind
of
a
medium
of
exchange
for
for
remittances,
and
things
like
that
trying
to
trying
to
replace
Swift,
though
those
are
really
the
killer
apps
right
now,
but
then
you
also
have
things
like
what-what
can't
exist
without
blockchain.
Well,
you've,
black
markets
I
mean
that
that's
pretty
clear.
A
You
know
we
had
Silk
Road
and
we
have
a
lot
of
a
lot
of
things
where
people
don't
have
access
to
markets
that
might
not
be,
you
know,
might
not
be
trading,
hits
and
and
drugs,
and
things
like
that,
but
but
you
know,
are
more
benign
things
that
just
didn't
have
you
know
there
was
some
sort
of
government
censorship
or
there
was
some
other
lack
lack
of
access
and
then
it's
sort
of
related
to
the
government
side.
You
have
systems
that
are
that
are
censored
and
of
course
people
aren't.
A
You
know
those
are
things
that
also
can
can
be
done
on
blockchain,
but
we
don't
necessarily
like.
We
haven't
really
gotten
a
lot
further
than
that
I
mean
we're.
Building
gambling
apps
we're
sort
of
we're
relating
the
charge
with
with
the
usual
players
and
I.
Don't
think
porn
has
found
its
way
on
there,
but
we
definitely
of
gambling
and
we
definitely
have
what
am
I
looking
for.
A
What's
the
other
sin,
gambling
well,
gambling,
gaming
and
and
and
advertising
things
like
that,
but
but
what
we
do
have
is
a
new
set
of
primitives
and-
and
so
so
my
goal
here
isn't
isn't
to
just
sort
of
lay
out
like
these
are
the
things
you
can
do
with
the
apps
but
I'm
trying
to
try
to
get
it
into
a
little
bit
more
fundamentally
like
what
the
apps
give
you.
What
to
decentralized
apps
give
you
that
might
be
worth
the
costs,
and
it's
really
up
to
your
creativity
to
figure
out.
A
How
do
you
put
these
things
into
something
useful
so
from
just
a
general
perspective,
the
previous,
the
previous
diagram,
you
saw.
Basically,
you
know
these
apps
are
trying
to
vacuum
data
out
of
users
and
hoard
it
off
to
the
sides,
because
we're
actually
asking
the
user
for
permission.
The
user
actually
has
a
lot
more
control
and
that
really
prevents
a
lot
of
those
effects,
and
just
just
looking
at
that,
the
the
way
that
this
is
progressed.
A
You
can
actually
think
about
the
money
transfer
function
of
Bitcoin
as
being
the
original
DAP
I
mean
it
doesn't
do
much.
It's
not
that
interesting
I
mean
like
yeah
wait,
I
mean
it
is
very
interesting
from
a
meta
perspective.
It's
a
Seidel
perspective,
but
from
a
technical
perspective,
it's
actually
not
that
interesting
to
just
sort
of
send
Bitcoin
between
two
wallets
and
but
that's,
that's,
basically,
the
the
original
decentralized
app
and
then
you
started
getting
some
more
stuff
around.
Where
you
could
you
could
program
transactions
a
little
bit
more?
A
You
can
apply
some
conditional
logic
to
like
you
know
when
am
I
gonna
release
these
funds
and
things
like
that
and
now
we're
you
know
with
aetherium
we're
getting
and
beyond
we're
getting
deeper
into
the
logic
that
you
can
run
on
these
on.
These
decentralized
networks
is
much
more
complex
and
you
can
actually
build
essentially
a
turing-complete
like
a
full
full
computer
based
on
based
on
these
networks.
A
A
So
I
want
to
talk
about
primitives,
so
the
idea
of
a
primitive
is
is
really
just
just.
What
do
you
get?
What
do
you
get
for
free
when
you,
when
you
sign
up
to
use
the
blockchain
and
and
different
platforms,
different
technologies?
Give
you
different
sets
of
primitives
blockchain
has
has
a
few
that
are
that
are
actually
quite
powerful.
So
so
there
are
really
three
big
categories.
A
One
is
identity
because
everybody
on
the
account
every
everybody,
every
every
contract,
every
refrigerator
or
whatever
it
is
everybody
gets,
gets
an
account
and
that
account
can
hold
all
sorts
of
different
stuff.
It
can
hold
your
money,
it
can
hold
your
data,
it
can
hold
your
crypto
kitties.
It
can
hold
your
your
house
if
some
people
have
their
way,
you
can
put
a
lot
of
stuff
in
that
bucket
transactions
are
the
other
one.
So
so
we
talked
about
transactions,
cross-border
transactions,
things
like
that.
A
Well,
what
blockchain
gives
you
that's
a
little
bit
different
or
what
it
gives
you
out
of
the
box.
Is
it
well
actually
I'll
go
into
this,
but
transactions
are
fundamental,
they're
they're,
a
fundamental
thing
about
the
way
that
we've
designed
block
chains
is:
we've
basically
created
these
things
beak.
We
originated
them
with
Bitcoin,
precisely
so
that
we
could
transact,
and
so
transactions
have
been
a
core
core
aspect
of
this,
and,
of
course,
cryptography
is
the
other
glue
that
holds
a
blockchain
together
and
because
it's
so
fundamental
to
the
way
a
blockchain
works.
A
A
A
So
so
it's
sort
of
like
you
know
when
you,
when
you
get
created
as
a
user
and
an
app
like
whatever
it
is
when
you,
when
you
create
your
wallet,
you
get
one
of
these
nonsensical
hashes,
and
that
becomes
your
account
and
your
account
sort
of
has
everything
attached
to
it,
and
everybody
gets
one
and
and
and
the
cool
thing
is
that
accounts
don't
have
to
be
humans
accounts.
Can
you
know
accounts?
Are
they
don't
care
there?
You
have
an
account,
that's
assigned
for
a
smart
contract,
even
account,
that's
a
sign
for
your
refrigerator.
A
You
have
an
account,
that's
assigned
for
you
and
and
and
that's
that's
interesting,
because
we
don't
always
get
that
for
free
with
with
other
systems.
The
other
one
is
ownership,
of
course,
which
is
that
the
account
actually
is
a
bucket
that
allows
it
to
control
all
sorts
of
things,
so
your
refrigerator
could
could
have
tokens
in
it.
A
You
know
you
go
to
a
website
login
with
Facebook
things
like
that,
but
you
still
you're
trusting
facebook
with
all
of
that
and
and
blockchains.
The
fundamental
platform
itself
can
provide
these
types
of
these
types
of
services
and-
and
you
can
also
have
reputation,
and
so
one
of
the
challenges
of
blockchain
and
decentralized
systems
is,
is
the
idea
of
well
anonymous
system
specifically?
Is
what
happens
like?
How
do
you
have
reputation
like?
How
do
you
know?
A
How
do
I
know
that
you're
trustworthy
and
how
do
how
can
I
extend
you
credit,
whether
it's
actually
monetary
credit
or
some
sort
of
social
credit
to
do
something?
And
so
you
can
actually
begin
to
accrue
some
sort
of
transaction
history
or
credit
as
you're
on
the
as
they're
on
the
chain
so
transactions
there.
There
are
a
few
daffy
you
different
ways
that
transactions
are
given
to
you
kind
of
for
free
on
the
blockchain,
so
you
have
direct
transactions.
So
so
you
have
peer-to-peer
transactions,
which
is
definitely
not
trivial.
A
I
mean
you
know,
you
might
have
functionality
on
your
phone,
where
you
can
send
data
to
people,
you
can
sort
of
air
airdrop
files,
and
things
like
that
right.
But
but
what
this
gives
you
is
is
is
definitionally
at
the
very
basic
level
you
have
the
ability
to
peer-to-peer
transact
anything.
That's
in
your
wallet,
any
any
data
that
you
have.
It
can
go
peer-to-peer.
You
don't
need
my
permission.
You
don't
need
Facebook's
permission,
you
don't
need
to
apples
permission
to
do
that,
and
so,
as
a
developer.
A
Those
transactions
are
also
instant,
so
that's,
maybe
less
less
relevant
on
the
on
the
the
digital
side,
but
but
on
the
financial
side,
that's
certainly
not
the
way
that
the
world
works
right
now
you
have
multiple
multi-day
settlement
and,
and
these
these
for
better
or
worse,
some
sometimes
it
can
be
a
disadvantage,
are
instant
or
more
or
less
instant.
Because
of
because
of
negligible
fees.
A
You
also
get
what
you
can
do:
micro
transactions,
so
instead
of
paying
stripe
or
who
or
whatever
your
processor
is
30
cents,
minimum
per
transaction,
which
by
definition
means
you,
you
can't
have
tiny
little
transactions.
You
know
this
is
why
people
won't
take
credit
card
less
than
you
know,
four
dollars
or
five
dollars
at
a
coffee
shop.
It's
because
they're
getting
charged
30
cents
on
that
transaction,
plus
three
cents,
plus
three
percent
of
the
cost,
which
just
like
cuts
it
out
their
entire
margin.
A
You
know,
if
you
don't
have
to
deal
with
this
legacy
of
financial
system.
If
you're
just
doing
a
lot
of
peer-to-peer
stuff
you
can,
you
can
do
much
much
smaller
transactions
for
much
much
smaller
fees.
You
also
have
conditional
transactions
is
basicly.
The
idea
that
you
can
sort
of
wrap
a
transaction
very,
very
simply
in
in
in
some
sort
of
basic
logic
or
or
complex
logic
that
allows
you
to
do
things
like
escrow.
You
know,
and
an
escrow
is
really
important,
because
how
do
how
do
we?
You
know
if
we're
transacting?
A
How
do
we
verify
that?
You
know
I'm
gonna,
give
you
at
the
same
time
as
you
give
me,
you
know
the
whole
prisoner
swap
thing.
It
makes
it
quite
easy
to
do
that
with
with
the
primitives
that
you
get
on
blockchain.
So
the
third
category
is
cryptography.
As
I
said,
it's
the
glue
that
holds
a
lot
of
this
together,
two
of
the
cool
things
that
you
can
do
with
it
one
is,
you
can
verify
any
activity.
A
A
You
can
basically
unlock
the
thing
that
was
kind
of
locked
there
and,
and
it's
like
a
little
time,
capsule
and
you
could
say:
oh
yeah,
look,
you
actually
did
the
thing
that
you
said
you're
going
to
do
and
on
the
other
side
very
similarly,
you
can
also
verify
that
that
things
are
in
fact
fair
that
they.
You
know
that
the
poker
game
you're
playing
actually
has
a
ran
this
algorithm.
That's
this
legit
and
fair,
alright!
So
there's
a
lot
of
stuff
that
those
primitives
allow
you
to
do.
I'm
not
gonna
list
them
all.
A
But
you
know
if
your
app
needs
peer
to
peer
transactions,
if
you
need
to
handle
money,
if
you
need
to
deal
with,
you
know
it's
easy
verifiability.
If
you
need
to
escrow
a
bunch
of
stuff
that
you
know,
these
are
all
questions
that
say
like
oh
yeah,
maybe
buck
Shan
actually
does
give
me
some
tools
that
that
I
didn't
know
that
I
could
use
that
easily.
You
know
I
wouldn't
know
what
to
do
with
those
thing.
I
wouldn't
know
how
to
put
those
things
in
if
I
wasn't
working
with
this
platform.
A
So
next
time
talk
about
the
actual
interactions
like,
what's
it
like
to
work
with
a
decentralized
application,
so
one
of
the
core
tenets
one
of
the
core
facets
as
I
was
talking
about
is
permission.
You
know.
A
lot
of
this
requires
permission,
because
a
lot
of
what
we're
doing
is
asking
the
user
for
things.
So
you
know
they
control
their
data.
They
control
their
accounts
and
all
we're
doing
is
just
borrowing
from
them
the
access
rights
to
change
things.
So
you
know
an
example
as
a
marketplace.
A
If
you
know,
if
we're
running
a
decentralized
marketplace-
and
you
want
to
transact
with
somebody
else-
maybe
it's
a
decentralized
exchange-
maybe
it's
a
collectibles
marketplace
or
something
who
knows
what
the
future
is
going
to
hold.
But
you
know
the
plat
for
the
marketplace
needs
to
ask
you
for
permission
and
you
don't
actually
have
to
give
them
your
information.
You
don't
have
to
give
them
your
password.
You
don't
have
to
give
them
anything.
A
So
the
core
of
all
that
is
the
wallet,
and
so
that's
something.
That's
new!
That's
something!
That's
weird!
It's
new!
It's
a
pain
in
the
ass
for
all
the
users,
it's
it's
kind
of
a
great
strength
and
the
great
weakness
of
all
this.
So
when
I
say
you
get
cryptography
for
free,
what
I
really
mean
is
you
have
to
go
through
all
the
trouble
of
setting
up
a
wallet
and
then
you
get
cryptography
for
free?
So
you
know
it's.
A
It's
we're
working
on
making
this
easier,
but
the
idea
of
the
wallet
is
that
basically,
your
wallet
kind
of
lists,
vieni
accounts
that
you
have
created
and
all
an
account
really
is.
Is
your
private
key,
your
cryptographic
key
that
points
to
the
safety
deposit
box
which
lives
on
the
blockchain?
So
you
know
your
your.
Your
wallet
doesn't
store
a
whole
bunch
information.
It's
you
know,
it's
just
a
little
teeny
tiny
thing
wrapped
in
a
bunch
of
cryptography,
but
you
know
it's
a
little
teeny
tiny
thing
and
that's
it
all
you
need
is
the
key.
A
It's
just.
It's
literally
like
a
physical
key
that
you
use
to
unlock
things
and
it's
like
a
key
in
a
signet
ring.
You
know
that
you
can
use
the
like
stamp
the
wax
on
the
on
the
secret
message.
That's
basically,
all
it
is
most
wallets
from
a
technical
perspective
both
have
that
key
and
they
also
have
to
talk
to
the
network.
A
But
the
wallet
also
sends
that
transaction
down
to
the
the
blockchain,
which
then
runs
the
whatever
logic
needs
to
be
run
on
the
smart
contract
all
right.
So
this
might
be
tricky
too
tricky
to
look
at
from
a
distance.
We're
actually
gonna
see
this
a
little
bit
more
later
on,
but
this
is
a
wallet
transaction
flow.
It's
basically
a
coin
based
trading
flow
that
goes
through
meta
masks,
which
is
a
wallet
that
lives
in
the
browser.
A
It's
a
browser
extension
and
all
this
is
saying,
is
essentially
I
want
to
buy
some
stuff
and
then
the
wallet,
pops
up
and
says:
hey,
do
you
do
authorize
this?
This
buy
to
go
and
then
sort
of
what
are
the
parameters
that
you
put
on
it
and
then,
and
then
it
sends
back
to
the
coinbase
transaction,
which
you
know
can
then
proceed
once
once.
You've
been
asked
for
the
permission.
A
Can
I
use
crypto
kiddies
a
lot
because
it's
probably
the
most
well
known,
crypto,
collectible
and-
and
we
have
a
flow
coming
up
from
that,
but
you
can
you
can
store
anything
in
your
wallet
or
it
could
just
be
data
about
your
your
movements.
You
know
it
could
be
your
your
your
passport
information.
It
could
be
literally
anything
so
so
what
the
wallet
the
job
of
the
wallet
is
just
ask
permission
and
to
sign
things
so
anytime
that
we
want
to
get
something
unique
from
that
user.
We
ask
them
via
the
wallet.
A
So
all
I
wanted
to
highlight
here
is
this
is
just
the
two-step
process.
So
this
is.
This
is
a
diagram
from
my
ether
wallet,
which
is
one
of
the
etherium
wallets
that's
available
and,
and
the
only
thing
I
wanted
to
highlight
was
that
it
that
wallet
both
signs,
your
transactions.
So
you
know,
once
you
give
permission
for
the
app
to
do
something
on
your
behalf.
A
You've
signed
it
and
then
it
actually
sends
those
transactions
out
to
the
blockchain,
and
most
of
this
diagram
is
about
the
guts
of
like
how
is
it
sending
those
transactions
to
the
blockchain?
And
you
know
how
are
those
going
to
be
included?
So
you
don't
need
to
worry
about
the
details
there.
So
I
wanted
to
do
a
quick
case,
study
on
crypto,
kitties
and
so
I.
Don't
know
if
you've
had
a
chance
to
play
with
this
I
don't
know
if
you've
purchased
scripto
before
I,
don't
know
if
you've
purchased
crypto
collectibles
before.
A
There
is
only
one
cat
like
it
in
the
entire
blockchain
and
that
cat
has
a
genetic
signature
that
you
breed
with
other
cats,
and
then
they
make
kittens
that
have
a
new
genetic
signature
and
everybody's
happy
and
you
you
know
it
has
a
but
but
what
it
has
is,
because
these
are
unique,
they
have,
they
have
some
scarcity
value,
and
so,
if
we
all
believe
they
have
value,
then
they
have
value
and
and
and
so
the
way
the
app
does.
This
is
is
or
basically
what
the
app
offers
you.
A
This
is
not
the
so
good
or
or
you
can
also
sell
yours
just
just
outright,
and
so
what
I?
What
I
did
with
this
was
I
signed
up
and
I
bought
a
crypto
kitty,
which
has
yet
to
show
up
in
my
wallet
and
I'm
a
little
confused.
What's
exactly
is
going
on,
but
luckily
that's
not
relevant,
so
what
I
wanted
to
walk
through
was
just
the
UI
just
one
of
the
steps.
A
What
does
it
take
to
interact
with
one
of
these
decentralized
apps,
so
cryptic
kiddies
lives
on
the
blockchain,
but,
as
we
were
saying
it,
it
gets
served.
So
so
this
front
end
is
is
visited
through
a
normal
browser.
It's
it
looks
like
a
normal
web
app
like
any
other
web
app
in
the
world
and
it's
actually
being
served
from
a
normal
server
like
a
normal
web
app,
so
nothing,
nothing
special
when
you
go
to
crypto
Kitty
Co.
A
So
if
you
click
the
start
button,
that's
when
immediately
we
have
to
start
doing
some
crypto
stuff,
so
I
have
a
browser
add-on,
but
the
meta
mask
add-on,
which
is
my
wallet
and
so
it's
kind
of
a
separate
process
that
runs
in
my
browser
and
so
immediately.
The
first
thing
that
it
does.
Is
it
pops
up
my
meta
mask
window
and
it
says
you
know
sign
into
meta
mask.
A
So
you
know
sign
into
your
wallet,
because
we're
gonna
have
to
ask
you
for
stuff
and
so
I
sign
into
my
wallet
and
then
it
basically
similar
to
like
a
sign
in
from
Facebook.
It's
the
same
thing.
It's
our
you
know.
Would
you
like
to
allow
crypto
kiddies
to
just
connect
with
your
wallet
and
see
your
information
because
meta
mask
you
know?
Privacy
is
important
there,
they're,
not
even
gonna,
give
your
information
out
to
crypto
kitties.
A
Unless
you
say:
okay,
like
I'll,
let
crypto
kitties
like
see
Who
I
am
you
know,
see
you
see
my
public
key,
and
so
we
click
through
the
UI.
We
create
an
account
sign
into
that
account
and
then
upon
signing
in
actually
oh
yeah,
so
so
in
order
to
sign
in
I
need
to
it.
Pops
up
another
meta
mask
thing
and
it
says
I
need
to
actually
sign
something
which,
which
is
them
creating
an
account
on
my
behalf.
A
So
you
know
it's
more
or
less
me
me
owning
something,
and
so
you
know
they
have
to
ask
my
permission
to
sign
it
once
I
once
I,
once
I
quote
sign
that
from
from
my
wallet
it's
okay
cool
now
we're
in
crypto
kitties
they
have,
they
have
a
whole
flow
to
it.
You
know
get
started
with
crypto
kitties.
Do
the
tutorial
nothing
interesting
there
again.
This
is
like
any
other
web
app
I've
created
an
account
I'm
just
working
with
it
normally,
but
now
I
want
to
adopt
a
kitty.
A
So
what
I
did
was
I
just
went
to
to
you
know
the
the
kitties
there's
a
list
of
these
kitties
I
looked
for
the
cheapest
one
possible
because
I
don't
want
I.
Don't
wanna
spend
all
my
my
ether
on
a
crypto
kitty
for
for
you
guys,
I
love
you
all,
but
and
so
when
I
click
on
that
it
basically
pops
up
the
kitty,
and
it
says
you
know
this:
cat
is
owned
by
Nick
and
I
can
buy
it
right
now
for
four,
you
know
point
zero
was
at
point:
zero,
zero.
A
Four,
eight,
you
know
point
zero,
zero.
Four
eight
ether,
so
I
click
buy
now
gives
me
to
a
confirmation
screen
on
the
left
and
then,
as
soon
as
I
click
OK
buy
this
kitty
we're
back
to
meta
mask.
It's
got
asking
me
it's
my
wallet
again
and
my
and
crypto
kitties
is
basically
saying:
hey
wallet,
you
know:
hey,
hey
Eric
and
your
wallet
like.
Can
I
execute
this
transaction
on
your
behalf
and
this
one's
gonna
cost
you
money.
A
So
what
we're
looking
at
there
is
okay,
the
transaction
went
through
and
it's
officially
it's
officially
on
the
blockchain
that
I'm
asking
this
person
to
buy
their
their
crypto
Kitty.
So
he
has
a
no
clue
approved
to
sale.
I,
don't
really
know
exactly
what's
supposed
to
happen,
I'm
a
little
bit
confused
as
a
user,
but
this
is
irrelevant
for
you
guys.
I
was
just
checking
that
the
sale
hasn't
been
finalized,
so
I
probably
missed
something
in
the
tutorial
but
irrelevant.
So
it's
a
my
point
in
walking
through.
That
was
just
to
show
the
different
points.
A
It's
kind
of
the
different
high-level
things
that
are
happening
and
when
they
had
to
ask
my
permission
right,
so
they
had
to
ask
my
permission
to
create
the
account
and
they
had
to
ask
my
permission
when
I
was
spending
money
which
was
real
money.
So
at
some
point
in
theory,
I'm
gonna
have
a
crypto
kitty.
A
It
was
it
was
transferred
before
the
approval,
so
I
I
don't
actually
know
what
it's
doing
behind
the
scenes
right
now,
because
it's
it's
sort
of
in
I'm
in
limbo.
Right
now,
so
I
think
they
might
be
screwing
the
fund
off
to
the
side
and
waiting
to
see
if
they're
gonna
accept
it
and
if,
if
they
don't
accept
it,
it
might
go
back
to
me
I,
don't
I,
don't
actually
know
what
they're
gonna
do.
A
So
what
I
want
to
do
right
now
is
get
a
little
bit
technical.
It's
just
dig
in
a
little
bit
more
start,
exposing
a
little
bit
more
technical
terminology
and
a
little
bit
more
architecture
behind.
What's
actually
going
on
so
we'll
kind
of
back
up
for
a
second
out
of
the
example
of
crypto,
kitties
I'll
jump
back
into
that,
but
so
what
does
it
actually
take
to
build
decentralized
app
again,
the
front
end
is
just
a
front
end.
You
know
it's
the
same
front
end
that
you're
used
to
building
HTML,
CSS
and
JavaScript.
A
Give
you
or
you
know
somebody
somebody's
gonna,
give
you
some
developers
gonna,
give
you
this
library
that
sort
of
translates
between
vanilla,
JavaScript
and
blockchain
ease,
and
then,
of
course,
you
have
to
build
a
smart
contract
which
lives
on
the
blockchain
and
actually
does
the
stuff
that
the
browser
is
trying
to
get
you
to
do.
And
then,
of
course,
you
have
to
deploy
the
the
smart
contract
to
the
blockchain,
so
the
high-level
flows
again
I
want
to
just
try
and
try
and
hone
in
on
conceptual
diagrams
as
much
as
possible.
A
So
this
actually
shows
that
shows
the
the
flows
for
two
different
types
of
apps.
So
on
the
Left
we
have
a
web
app
on
the
right.
We
have
a
mobile
app
kind
of
the
point
of
showing
them
side-by-side.
Is
that
there's
really
no,
ultimately
no
difference?
The
only
difference
is
the
web
app.
You
know
you
might
use
a
JavaScript
library
on
a
mobile
app.
A
You
might
have
an
SDK,
that's
that's
kind
of
embedded
with
the
mobile
app
because
you
had
to
download
the
thing
it's
probably
written
in
the
same
language
and
and
that
basically
the
flow
of
this
is
you
know
when
it
transactions
coming
through.
It
comes
through
from
the
app
it
has
to
ask
the
wallet
and
then
the
wallet
figures
out
how
to
push
it
down
and
talk
to
the
chain.
That's
that's.
Really.
A
It
might
actually
not
be
doing
all
of
the
work
of
the
chain.
It
might
be
kind
of
a
light
node,
but
the
idea
is
that
it's
it's
talking
to
its
peers
and
it
kind
of
it's
synced
to
the
network,
and
it
knows
what's
going
on
so
that's
one
way
of
doing
it.
The
other
way
is
is
hey
centralization,
it's
back
is,
is
basically
hard-coding
an
endpoint
that
it
knows
how
to
reach,
which
is
a
trusted
node,
and
so
you
might
have
heard
of
in
fura.
A
That's
that's
effectively
a
trusted
node
for
the
etherium
network,
or
they
basically
said
you
know
what,
if
you
guys
want
to
send
transactions
to
a
theory,
I
mean
you
don't
want
to
run
a
node
in
your
browser
and
you
don't
want
to
sync
it
to
the
network
and
you
don't
want
to
figure
out
how
that
works
or
or
use
resources
or
whatever.
It
is
just
send
it
to
us
and
we'll
make
sure
it
gets
to
the
network
on
your
behalf,
which
you
know
like
warning
bells
centralization
point
single
points
of
failure,
things
like
that.
A
A
Don't
know
what
they
technically
call.
It
I
mean
it's
synced
to
the
network,
but
it
could
be
a
rapid
sync,
so
yeah
we
can
dig
into
that
a
little
bit
after
if
you
want
so
I
I'm
the
kind
of
person
who
has
to
understand
step
by
step
by
step
so
hope,
maybe
you
guys
are-
or
maybe
you
can
tune
out
for
30
seconds,
but
really
really
walking
through
the
steps
of
what's
happening
when
a
user's
doing
something
on
the
web
page.
A
So
again
you
can
think
of
the
crypto
Kitty
example
what's
happening
when
I'm
actually
trying
to
buy
that
thing
it.
So
the
first
thing
is
obviously
I'm
interacting
with
a
web
page
I'm
clicking
by
you
know,
I
say:
do
the
thing
I'd
say
buy
the
kitty.
The
second
step
is
that
then
my
front-ends
javascript
code
is
gonna
is
going
to
record
that
I
push
the
button
and
it's
gonna.
It
basically
has
to
check
for
a
wallet
and
say:
hey,
you
know
it.
A
A
What's
going
on
now,
your
app
is
just
sort
of
whistling
off
to
the
side
and
and
and
meta
mask
is,
is
now
or
whatever
wallet
it
is
that
you've
chosen
now
now
that's
the
one
that
pops
up
the
window
for
the
user
and
says
hey!
We
just
received
this
thing
that
you
know
supposedly
we're
supposed
to
send
on
send
back
to
the
chain
on
your
behalf.
Is
this
real?
You
know?
A
That's
now
signed
to
the
network,
and
so
then
the
blockchain
network
now
you're
in
the
blockchain
network,
and
now,
if
the
transaction
gets
propagated,
it
gets
included
in
a
block
and
then
it
actually
gets
run
using
the
smart
contract
code
that
you've
created
because
it
you
know
the
transaction
is
basically
pointing
to
that
smart
contract
and
it
runs
that
smart
contract
and
then
finally,
of
course,
something
has
to
come
back.
So
once
all
the
nodes
have
achieved,
consensus
have
figured
out
hey.
This
is
actually
what
this
is.
A
What
the
smart
contract
result
should
be
we're
all
in
agreement,
it's
now
been
whatever
14
SEC
10
second
14
seconds
on
aetherium
cool.
Let's
send
that
thing
back
and
and
we're
good
to
go.
So
that's
that
that's
kind
of
a
step
by
step
life
cycle
and
you
can
kind
of
see
a
picture
of
it
again
step
one
is
in
the
user
interface
it
pushes
through
your
JavaScript
code.
It
goes
to
the
wallet
which
then
has
to
ask
you
questions.
A
So,
as
a
developer,
what
are
you
gonna
pay
attention
to
I
mean
you
really
really
only
have.
It
depends
on
your
function
either
the
top
two
or
the
top
three.
If
you're
more
of
a
designer,
you
might
be
focusing
more
on
the
third
one.
But
basically
you
know
you
have
to
build
a
smart
contract
that
sits
on
the
blockchain
and
you
have
to
build
the
JavaScript
code.
A
That
knows
how
to
talk
to
the
smart
contract
up
in
your
app
and
yes,
it's
going
to
go
via
the
wallet,
but
I
mean
you
know,
you're
the
one
who
has
to
code
the
JavaScript
and
you're,
the
one
who
has
to
code
the
the
smart
contract
and
then,
of
course,
the
user
interface.
Everyone
has
to
think
about
that,
so
we
always
want
to
put
that
there,
because
again,
this
flow
is
real
pain
for
users.
So
again
we're
constantly
pushing
forward
and
trying
to
figure
out.
How
do
we
streamline
this?
How
do
we
remove
steps?
A
A
Just
a
quick
technical
aside,
smart
contracts
can
call
other
smart
contracts,
so
it's
not
like
you
have
to
build.
You
know
this
monolithic
thing
that
they
can't
reach
out.
If
you're
a
developer,
you
understand
there,
that's
that's
silly
and
it
doesn't
make
any
sense.
Smart
contracts
can
talk
to
other
smart
contracts
which,
if
we
look
at
crypto
kitties,
they
actually
cryptic
kitties
has
a
whole
bunch
of
smart
contracts
inside
of
it.
So
these
are
actually
technically
have
more,
but
these
are
kind
of
the
main
ones.
A
There's
there's
a
pretty
good
blog
post
out
there,
where
they
talk
about
that.
So
if
you're
curious,
you
can
probably
google
around
and
find
it,
but
you
know
they
they
essentially
have.
You
know
the
one
big
kitty
core
contract
that
then
calls
out
to
specific
contracts
that
each
have
specific
functions
if
you're
a
developer,
you're
used
to
this.
This
is
just
modularity,
but
all
I'm
trying
to
say
is
you
can
do
this
in
smart
contracts,
it's
not
quite
as
seamless
as
it
would
be
in
the
normal
normal
developer
world,
but
you
can
do
it.
A
You
know
so
one
contract
has
all
the
the
meta
stuff
one
contract
figures
out.
How
do
you
actually
create
new
kitties
one
contract
figures
out
how
the
auctions
work
stuff
like
that,
and
so
just
a
few
notes
on
the
architecture,
so
the
display
logic
is
actually
on
the
server.
So
this
is
something
specific
for
for
crypto
kitties.
A
They
they
have.
They
have
data
structures.
They
have
big
arrays
that
basically
just
record
all
of
all
of
the
kiddies.
You
know
that
are
out
there
and,
and
then
they
just
map
it
to
what
account
number
owns
it.
And
so
you
know
what
do
you
actually
own
when
you,
when
you
own
a
crypto
kitty,
I
mean
effectively
what
you
actually
own
is
its
genetic
signature
and
that's
about
it.
A
They
what
they
own
is
and
again
this
might
be
a
little
bit
old,
because
this
is
a
lot
of
this
information
is
from
about
a
year
ago
and
they
were
talking
about
changing
it.
So
this
might
be
a
little
bit
different,
but
as
a
case
study,
it's
still
useful,
you
own
the
genetic
signature,
but
they
decide
how
to
display
it.
So
so
all
of
those
fancy,
graphics
that
make
the
bug
eyes
and
the
cute
little
tongue,
sticking
out
and
stuff
like
that.
You
know
that
that
comes
from
them
that
comes
from
their
server.
A
So
so
technically
they
own
the
trade
they
own
the
rights
to
those
types
of
things.
So
it
is
an
interesting
commentary
on
what
do
you
actually
own
when
you
own
something
that's
decentralized
so
again.
Another
one
is,
of
course,
that
the
website
itself
is
served
from
some
sort
of
static
host,
most
likely
they
could
have
served
it
from
a
torrent
network,
so
that
is
actually
possible.
As
you
can
serve,
you
can
serve
static
pages
from
decentralized
sites.
You
could
serve
it
from
potentially
ipfs.
You
could
serve
it
from
a
BitTorrent
Network.
A
It
might
not
work
out
too
well,
because
users
might
not
be
able
to
find
it
on
accom.
It's
all
sorts
of
all
sorts
of
interesting
issues
there,
but
I
just
wanted
to
say
again
emphasize
that
none
of
this
is
is
totally
reinventing
the
wheel.
The
website
had
to
come
from
somewhere
they
have
the
HTML
code
had
to
come
from
somewhere
and
it
wasn't
the
blockchain
and.
A
So
last
things
I
wanted
to
talk
about
we're
just
a
few
other
considerations
and
one
of
them,
one
of
the
big
ones,
is
gasp
like
what
the
heck
is
gas.
So
the
wallet
is,
is
probably
the
biggest
interaction
difference
between
the
blockchain
and
you
know,
working
with
a
D
app
adapt
whatever
and
working
with
a
centralized
app,
but
then
as
a
developer.
A
Yes,
you
have
to
think
about
the
wallet,
but
in
a
lot
of
ways
you
don't
actually
have
to
think
too
much
about
the
wallet,
because
you're
just
sort
of
you
just
sort
of
like
make
your
transaction
happen
and
the
wallet
figures
out
what
to
do.
But
you
do
have
to
think
about
gas,
and
so
the
idea
of
gas
is
that
these
networks
have
to
get
paid
for
by
somebody.
So
I
mean
you
have
a
whole
bunch
of
nodes
that
are
running
the
blockchain.
A
So
how
do
they
get
paid
to
do
the
work
that
they're
doing
and
they
get
paid
by
you
giving
them
a
transaction
fee
whenever
they
run
your
transaction
on
the
chain?
And
so
that's
gas,
and
so
in
Bitcoin
Bitcoin
Bitcoin
is
is
generally
is
one
of
the
simplest
overall
networks,
because
it
really
only
does
one
thing:
it
really
only
transact
Bitcoin
from
one
address
to
another,
and
then
it
has
some
simple
functionality.
On
top
that
people
have,
you
know,
kind
of
built
a
lot
of
stuff
on
top
of,
but
fundamentally
it's
pretty
basic.
A
It
tends
to
be
computing
time
or
you
know
the
amount
of
energy,
like
the
amount
of
cycles
that
that
thing
is
actually
using
that
that
that
run
of
your
smart
contract
is
actually
using,
and
so
the
idea
of
gas
is
that
how
do
we
actually
account
for
that?
So
it's
really
easy
to
say
like
how
many
bytes
is
this
piece
of
code
on
the
snippet
of
data
that
you
sent
me,
which
represents
a
transaction?
It's
a
lot
harder
to
be.
A
Like
you
sent
me,
you
sent
me
some
code
that
I'm
supposed
to
run
on
my
machine,
but
I
don't
know
if
this
is
gonna.
Take
me.
You
know
one
unit
of
time
or
100
units
of
time
and
like
how
do
we?
Even
how
do
we
even
pull
that
together?
But
we
have
to
figure
it
out
because
you
know
otherwise,
again
you
run
into
the
problem
where
it
might,
you
might
ask
each
node
to
run
a
silly
amount
of
code
and
then,
and
it
kind
of
like
slows
down
everything
and
comes
up
the
whole
system.
A
So
the
idea
is
that
each
block
has
a
limit
on
gas,
and
gas
is
just
an
accounting
measure
that
represents
how
much
complexity
on
the
computing
side
does
a
given
operation
take.
So
a
simple
operation
like
transferring
somebody
tokens
might
be
super
lightweight
just
requires
a
little
bit
of
gas,
something
like
writing.
Data
to
save
it
to
the
chain
might
be
much
more
complex
and
take
a
lot
more
gas,
and
so
the
idea
is
that
you,
as
a
developer,
need
to
be
conscious
of
when
you're
running
your
code.
A
How
much
gas
is
that
code
actually
requiring
to
run
because
somebody's
gonna
actually
have
to
pay
for
that
gas,
and
so
the
wrinkle
here
is
that
again
on
the
Bitcoin
blockchain?
How
do
you
if
there
are
more
transactions
that
want
to
be
in
the
block,
then
there's
actually
space
in
the
block?
The
people
who
are
running
this
block
you
have
the
nodes
on
the
chain,
will
actually
the
miners
technically
but
I'm
sort
of
conflating
proof
of
staking
proof
of
work
a
little
bit?
So
sorry
for
that.
A
A
How
do
I
pick,
which
ones
well
I
picked
the
ones
that
are
gonna
pay
me
the
most,
so
every
transaction
on
Bitcoin
comes
in
with
an
offer
price
and
it
says
hey,
like
I'm
willing
to
bid-
and
you
know
I'm
willing
to
I'm
willing
to
put
this
transaction
in
here.
For
you
know
this
much
Bitcoin
and
you
know
all
the
other
guys
willing
to
pay
this
much
and
and
so
that
you
know
the
it's
actually
pretty
easy
for
the
block
producer.
A
To
then
say:
oh,
you
know,
I'll
just
take
the
most
expensive
ones
that
are
gonna
pay
me
the
most.
It's
pretty
pretty
vanilla
with
something
like
gas
that
that's
basically
the
same
principle.
It's
like
you
know
if,
if
there's
like
ten
thousand
there's
a
ten
thousand
gas
thing
that
wants
to
get
in
there's
a
hundred
thousand
gas
thing
that
wants
to
get
in
there's,
you
know
a
whole
bunch
of
these
different
sized
transactions
that
are
trying
to
get
in
I
we
have
to.
A
We
have
to
allow
them
to
sort
of
fight
their
way
in
by
paying
who's,
gonna
pay
the
most,
and
so
that's
what
aetherium
is
doing
with
gas
is
so
the
gas
is
how
much
the
accountings
know
on
an
accounting
basis
like
how
complex
that
transactions
going
to
be,
and
then
they
actually
submit
a
bid
for
what
what
they're
willing
to
pay
for
each
unit
of
gas,
so
it
gets
kind
of
complicated
but
but
like
once
you
get
familiar
with
it.
It
makes
sense
so
again
in
in
Bitcoin.
A
Even
though
I
didn't
necessarily
get
my
kitty.
Somebody
on
the
blockchain
had
to
run
this
transaction,
regardless
right
and
anytime
that
you're
asking
these
these
nodes
to
run
something
you
have
to
compensate
them,
which
means
you
have
to
pay
gas,
so
something
that's
fundamental
about
the
blockchain
which
is
challenging
coming
from
the
web
to
world
where
things
are
so
low-cost
that
you
don't
really
end
up
paying
for
a
lot
of
this
stuff
is
that
you
have
to
pay
for
every
single
time.
A
You
ask
people
to
do
work
on
your
behalf
and
if
you,
if
you're
a
developer,
you
you
understand
how
many
times
in
a
given
flow
of
an
application,
you're
actually
asking
for
compute
help
and
you're
asking
for
compute
power
and
so
every
time
that
we're
trying
to
do
something
that
touches
the
user.
That's
asking
the
chain
to
do
something
on
their
behalf.
A
It
has
to
come
with
a
gas
cost,
and
so
some
some
apps
will
will
assign
a
default
gas
cost
because
again,
remember
the
more
I'm
willing
to
pay
for
my
gas,
the
the
more
likely
it
is
to
get
it
in
the
next
block.
If
I'm
not
willing
to
pay
much
at
all,
it
might
just
sort
of
sit
out
there
waiting
and
waiting
and
waiting
and
waiting,
and
so
sometimes
they
you
actually
ask
the
user.
A
For
that,
and
you
say
hey,
you
know:
how
much
are
you
willing
to
pay
and
the
user
is
like
what
the
hell
is
gas
and
other
times
the
Apple
will
sort
of
just
average.
You
know
the
last
few
blocks
and
I'll
just
say:
I,
don't
know
like
it,
you'll
probably
get
in
there.
If
you
bid
this
amount,
just
do
it,
but.
A
A
But
if
you,
if
you
remember
the
block
Explorer,
that
I
showed
where
you
sort
of
the
website,
that
tells
you
all
the
data
about
the
transaction
that
hit
the
chain
like
vet.
Vet
will
also
show
off
all
of
this
stuff,
like
how
much
gas
did
it.
How
many?
How
long
did
you
have
to
wait
until
it
was
actually
accepted
in
the
next
in
the
next
block,
and
things
like
that
so
yeah,
so
who
should
pay
for
it
open
question
right?
Should
a
user
pay
for
it,
I
mean
that's
a
real
pain?
Nobody
I
mean
these.
A
Frankly,
if
you're
thinking
about
user
experience,
the
user
should
never
have
to
do
anything
because
they
don't
want
to
do
anything,
but
somebody
has
to
pay
for
this.
We
haven't
gotten
to
the
point
where
it's
totally
abstracted
away
and
you
know,
but
it
can
be
costly
if
you're
a
developer,
especially
if
you
write
inefficient
code.
A
You
know
we're
kind
of
back
to
the
days
where
you
have
to
you
know,
embedded
systems
like
back
in
the
day
when
you're
managing
memory,
you
had
a
finite
amount
of
memory
on
chips
and
things
like
that
right
I
mean
I.
Guess
today
you
still
do,
but
you
know
it's
kind
of
a
different
world
when
you
have
to
actually
think
about
these
things.
So
again,
it's
sort
of
a
step
back
for
from
a
development
perspective.
Cuz
you're
after
you
having
to
think
about
these
very,
very
detailed
technical
things
all
right.
A
A
Actually,
it
needs
to
be
able
to
do,
and
so
there
are
solutions
that
are
that
are
out
there
that
are
sort
of
working
on
this
problem
of
how
do
you
build
a
decentralized
file
storage
system,
so
the
most
common
one
is
ipfs
interplanetary
file
system,
which
is
related
to
the
file
coin.
Token-
and
you
know
that's
that's
one
thing
that
you
can
look
into
that
a
lot
of
developers
will
hook
into
it
has
its
own
challenges,
its
own
decentralization
issues
which
are
out
of
scope
and
the
naming
is
another
one.
A
Nobody
wants
to
copy-paste
all
of
these
giant
hashes,
where,
if
you
put
in
the
wrong
one,
then
it
goes
to
you
know,
you've
effectively
destroyed
whatever
it
is.
You
thought
you
were
sending,
so
these
are
all
problems,
and
so
you
have
projects
that
are
trying
to
work
on.
How
do
we
solve
the
naming
problem?
How
do
we
solve
across
all
the
block
chains?
You
know
sort
of
like
with
domains
the
DNS
system
in
domains
says
you
know,
there's
only
one
WWE
Google
calm
things
like
that
like?
How
do
you
do
that?
On
the
blockchain
side?
A
It's
it's
not
trivial
and
there
are
a
lot
of
projects
out
there
tackling
it,
but
you,
as
a
developer,
are
going
to
interface
with
these
things,
so
if
you
think
just
open
just
to
kind
of
close
out
with
on
the
issues
open
source,
so
everything
is
open
source
here
so
get
into
open
source
culture
if
you're
interested
another
one
is
governance
is
super
important,
so
the
crypto
kiddies
contract
for
reference
has
basically
they
have
roles
hard-coded
in
there
where
they
say
well.
This
is
the
the
account
of
the
CEO.
A
This
is
the
account
of
the
CEO
and
the
CFO
CTO
and
CFO
anyways.
Some
of
the
executives
in
their
company
are
hard-coded
into
the
contract
or
are
basically
written
into
the
contract
in
a
way
that
they
can
make
changes.
So
you
know,
for
instance,
you
can
imagine
they
might
want
to
have
have
the
money
that
the
contract
has
accrued
from
their
transaction
cut
of
running
these
auctions.
They,
like
somebody,
wants
to
get
paid
right,
so
you
have
to
figure
out
where
to
send
that.
A
A
I
want
to
be
able
to
upgrade
my
contract,
but
if
I'm
the
one
who
can
upgrade
my
contract,
doesn't
that
mean
that
it's
centralized
and
I'm
a
single
point
of
failure,
because
if
somebody
has
a
gun
to
my
head,
I
could
do
something
nefarious,
so
I
think
things
to
think
about
and
governance
is,
is
a
really
important
issue.
It's
an
important
issue
on
the
basic
blockchain
level,
which
is
where
you
tend
to
hear
the
term
use,
but
it's
also
an
issue
on
decentralized
apps,
like
anything,
that's
decentralized
where
you
have
to
make
changes
to
it.
A
How
do
you
make
those
changes
like
who
decide
it's?
When
the
who
makes
these
changes
and
how
we
talked
a
little
bit
about
decentralization
and
then
the
final
thing
to
go
out
on
is
is
if
you
need
to
know
something.
How
do
you
know
where
do
you
get
this
information
from
like
if
I
need
to,
if
I'm
running
a
sports,
betting
site
and
I
need
to
know
what
was
the
score
of
the
Lakers
game?
A
Where
do
we
get
that?
Because
if
there
are
a
thousand
notes
who
are
all
running
this
piece
of
code
that
are
all
asking,
what
was
the
score
of
the
Lakers
game?
Does
that
mean
that
each
one
of
those
is
going
to
send
one
of
a
thousand
requests
to
the
API
for
the
espn.com
or
whatever?
It
is?
That's,
that's
publishing
this
score
or
I
mean
that
doesn't
make
any
sense
and
a
lot
of
them
might
not.
You
know
it
might
not
be
written
in
such
a
way
that
you
can
actually
make
those
web
requests.
A
You
know,
I
think
that
that's
sort
of
like
you,
the
whole
idea
of
these
nodes
is
you're,
trying
not
to
allow
the
code
to
break
out
because
that's
a
security
risk.
So
how
do
you?
How
do
you?
How
do
you
do
that?
How
do
you
find
information?
That's
that's!
That's
coming
in
these
are.
These
are
super
trivial
problems
in
a
centralized
world
and
it's
not
trivial
at
all
in
a
decentralized
world.
So
we
call
that
the
Oracle
problem.
You
know
it's,
it's
you're!
A
You
need
to
get
this
source
of
truth
from
somewhere
the
Oracle
on
the
hill,
so
who
is
the
Oracle
and
who
decides
how
the
Oracle
gets
their
information?
A
very
interesting
question,
and
again
one
that's
out
of
scope
for
us
today,
but
well
we're
thinking
about.
So
that's
all
I
have
for
today,
but
I'll
stick
around
for
questions.
Okay,
thanks
a
lot!
You
guys.