 for doing a demo from Consensus Lab. Hello, everyone. Let me share my screen. Okay, so today I'm gonna present the project that I'm currently working on as part of the Consensus Lab. And basically the motivation behind this project comes from the observation that blockchain that are based on the reusable resource such as pro-stake or pro-force space are less secure than the one based on a non-reusable resource such as proof-of-work. This is a work that we are also actually interested in proving formally later on. So for example, in proof-of-stake, there exists some attacks such as long range attacks or stake bidding attacks. Thank you, George. Oh, my goodness, continue, sorry. Okay, that was George. Just so that you know, it's not me who messed up. And also in Figern, we found actually similar attacks. So for this, if you have been following the whole, like, audit of EC, we find some attacks called depot boundaries or power game attacks. And this gives us kind of like lower confidence consequences than proof-of-work. So I'm going to illustrate quickly what a long range attack is. I'm going to consider the proof-of-stake setting because it's simpler to illustrate this attack. But again, if you want, I can share the documents about similar attacks on Figern. So in proof-of-stake, you only need validator signature in order to create a block. But what can happen is validators, they can leave the protocol. So for example, in my slide, we will start the protocol with green validators. And then maybe later on, they will go away. And we will have like only the pink validators. But what this means is that the keys associated with the green validator in the past, now they are completely worthless because the money has been moved, like they don't have any power anymore in the contentious. So an adversary could basically bribe the past miners by their keys at no cost because there is no currency associated with them. And with those keys, because we are in the proof-of-stake setting, the adversary is able to reconstruct an entire chain because again, like you only need those keys in order to create a block. And the problem is that a user that has been offline for a very long time will wake up and see those two chains that are as long and they will look both legitimate. So it's impossible, actually even the adversarial chain could be longer maybe. So it's impossible for at least our user to differentiate which chain is valid. So power-leasing attack very quickly, an adversary will create an alternative chain and then will get all the minting rewards to himself in order to have a chain that looks like very long. Very powerful, this is a data state. Okay, so basically what is our solution is in order to deal with this type of long-range attacks. We want to rely on a blockchain that is based on a burnable resource. So basically we want to use the security that is provided by proof-of-work in order to help secure fine-chain. So the intuition would be to anchor fine-coin membership and fine-coin state into the Bitcoin blockchain. And this is actually possible thanks to the taproot update that's gonna come very soon for Bitcoin, that's gonna allow very big notices to be pushed, sent to Bitcoin. So the idea is that we will have a public key and aggregated public key that will represent the fine-coin miners and then in order to update the state of fine-coin, we'll just make a transaction from our public key PKI to the new states of fine-coin which will be represented by PKI plus one. We're gonna use Schnorr's threshold signature. So we require two-thirds of the miner weighted by power to see the transaction in order to allow for an adversary for the scheme to be resilient against an adversary. And then the idea is that the user will be able to go on the Bitcoin blockchain, check the chain of transaction, start it from an initial public key PKI zero and then be able to retrieve the state of fine-coin from the Bitcoin blockchain in the case of those long-range attacks. So again, going back to the long-range attack, Alice, she will wake up, she will see these two chains, she will be like, which one is the right one? They all look perfectly valid, so she will go to the Bitcoin blockchain, she will retrieve the chain of transaction and from PKI she would be able to differentiate if it's the pink or the orange blockchain, which is the right one. So very quickly, the high-level protocol works as follows, so periodically, it will be triggered periodically, so the members of the new configuration, meaning the new set of miners will perform a distributed key generation algorithm in order to generate this new PKI plus one that will be the state of fine-coin and then one participant will create the transaction that updates the states and then the participants, like the fine-coin miner, will perform the threshold signature and the transaction will be pushed to the Bitcoin blockchain. So that's the high-level, hopefully, and I don't think I will go into more detail because I think I'm at the end of the five minutes. Am I good? That was perfectly timed. Cool. Perfect. All right, thank you so much. All right.