 We are really trying to change the world and I hope over the coming days with the talks that we will have that talk about our privacy technologies With the talks that we will have that talk about you know the scaling and how we plan it hit these things Research lab is gonna be coming up here. We're gonna be talking about different. We know we're not perfect We know we have so much room to improve and we're not gonna make grandiose claims that we've got a hundred percent privacy We got this hundred percent, you know no Because if you don't iterate if you don't improve especially in this space, right? You're gonna get out and we know that in fact we love that We embrace that because we want to get better as the world changes We want to change because we are here to help people for the first time in a long time to have hard currency Currency that you can choose what to do with That people can't come and say okay. You need to do this with it. You need to do this with you need to show your records We can Over who you share it with This is to coin a hashtag just on the spot the Monero difference When we talk about things like Bitcoin and kind of their their open ledger and we talk about you know On-chain governance and all this different type of stuff. This is what sets Monero apart and If you have any questions about any of these things we got people ready to answer these questions over here Come to our tables. We got free stuff. Please take all our free stuff If we go home with any of our free stuff, we'll be very disappointed take all of it We don't want it okay and tell your friends to come take all this free stuff if this seems a bit improv I do apologize it is Okay, because the guy that's supposed to give the opening speech. We don't really know who he is We don't know who was supposed to give the opening speech. I'll be honest But that's actually one of the funny things and that's one of the things that sets Monero apart We are very decentralized. We didn't have an ICO. We didn't have a free mind We have no corporation foundation any of this type of thing It's just a bunch of people that are passionate about privacy passionate about hard currency About research about furthering the privacy conversation globally that are just all getting together to make this happen And that shows in the in the creation of the village and how we do this stuff as well because it's been chaotic If you if you were not there it's all open It's all online IRC logs tiger all this different type of stuff It was a bit of a chaos getting all this together Nobody really in charge, but it was fun and we did it and maybe it's not going to be the best village that ever was But we're gonna learn for next year and this is really what highlights the greatness of the Monero community It's we are so passionate about decentralization that we don't know who's giving the opening speech And we don't know why this person was given an hour for an opening speech I'm also giving the closing speech and they asked me do you want two hours and I said no What am I gonna talk about for two hours? But so I've decided I'm gonna have a game show and there's gonna be prizes So if any of you guys wants to be a part of this game show and we can it's just gonna be some trivia stuff stuff That you're probably gonna be learning over the course of these next three days if you attend our talks Please come talk to me. I'd be thrilled to have you guys on stage. We're gonna have some great We're gonna have a great time. We're gonna have some a lot of fun All right, so what I've burned like four minutes. I've got another 56 minutes to go Okay, I'm not gonna speak for an hour. Well, we've got much better people than me that are gonna be speaking Like H. Y. C. Our keynote spirit. We've got Monero research lab over the course of the three days We have plenty of people on these tables We've got plenty of very exciting people like tarry and globy who are working to build a second-layer solution on top of Monero That's type of thing. We got Monero research lab Coverage Anonymous here. I don't know if everybody knows the about covering how it's working if you don't please come to the Talks you can find out see the Monero community is not just about okay We're gonna Monero make the price as big as it possibly can be Trying to see how can we further the privacy conversation all across the world and this includes altruistic stuff like Covery Which is talking which is a I2P router? Made in C++ and we want it to be available for any application Not just Monero that wants to use it because we realize that some people need that extra privacy Some people need that extra, you know routing through I through the I2P network to avoid any number of things and we want to just give That freely to anybody not just for coins to implement, but for anyone to implement. We are so focused. We are so passionate about Hard currency to the world that we will do I mean we will do basically anything to get there. Don't take that the wrong way, okay, but By all means tell your friends that we're here record the speeches do whatever you need to do Questions ask at questions. We love questions and we are always willing to talk with people about how Monero is going to change the world We also got because with us. I don't think anybody from them is here at the moment because stands for the Blockchain cryptocurrency open security. They've also got some cool swag to give away I think most of their t-shirts are gone. This stuff goes fast. We got we got a plan. We got my goodness Lesson learned. Okay. There they are because people these guys coming in They're they're giving stuff. Let's give them a look and there are partners here Go talk to them see what they're all about doing great stuff Yeah, I don't think I could talk for that much longer But doesn't just first of all does anybody have any questions about the agenda about anything that we're doing this Let's turn this to a Q&A. What do you guys think? What do you guys? I'm sorry The next speaker is right there. That's how we're true. He's gonna be speaking at 11. I mean he brought A fiddle and you can like play for the for the interim Okay, okay, so sure so the question the question is And I don't know how many of these questions I'm gonna do because a lot of these things are gonna be in talks I'm sure I'm more than happy to talk about this So the question was for those that didn't hear that there's been some disagreements within the Monero community about acic resistance You know how because so if those who don't know Monero is committed to be acic resistant And if you don't know what that is please by all means come talk to us over there We're more than happy to answer questions about that but that requires that every so every six months We Monero does a hard fork anyway to kind of upgrade the network and add new technologies like this upcoming hard fork We're putting bulletproofs shrinks our range groups by a lot lots of cool stuff talk to Monero research lab but as part of our six months Hard force we are changing our hashing algorithm We're slightly tweaking slightly tweaking slightly tweaking to keep a six away Now the argument is that this brings in an element of centralization because who's who's calling the shots up here, right? Who's saying we're switching it to this or we're switching it all and what parameters we're tweaking and all that different type of stuff So the thing that most people don't understand about decentralization period is it's not just like one big all-encompassing mass of Decentralization you have decentralization of development of Community decentralization of the protocol all this different type of stuff right and it's yes So it's really tough to kind of give up This coin is five out of ten decentralized seven out of ten decentralized because really you have to look at these things Individually these different areas of decentralization and see okay How decentralizes this portion is this portion is this portion so the counter argument to this asic thing is that if Monero Doesn't fork away from a six then there's going to be centralization of mining There's going to be decent decent There's going to be centralization of the work like we see for Bitcoin today And so no matter almost like a catch 22 no matter what you do There's going to be some form of centralization either centralization of who's who's making these tweaks Who's doing the development that type of stuff who's doing that type of thing or centralization of the of the mining And at the moment nobody really has hard solutions for this everyone's got ideas and that's great Let's try different ideas. Let's all this stuff really is an experiment at its core Bitcoin is an experiment at its core Monero is an experiment at its core. We're trying to we're very young And we're trying to see how can we change the world and along the way there's going to be snacks along the way We're not we don't claim to know everything, but we're trying stuff out We're seeing we're seeing how it goes and in this particular case the Monero core team seven individuals who? They actually don't do any development if you want to learn more about Monero's governance We got good stuff on our website come talk to any of us over here We've decided you know what we're going to try for the centralization temporarily in terms of development until Asics become such a commodity that anyone can have one and at that point For the security we can go ahead and switch to an ASIC friendly algorithm the one that the one that everybody has one Everyone's got it on their phone. Everyone's got it on there something So it's not a plan to fork every six months till the end of time forever, right? It's just the idea that temporarily Letting a system network is really going to be detrimental to everybody else's what that's wanting to mine And we want to be as decentralized as possible in that area And long term we are looking to make we're looking at different solutions HYC here had a thing called random JS that he came up with it's another take on proof of work entirely And it's really cool on it and it's going to be implemented into Wow narrow Which is kind of the doge coin of Monero the testbed of Monero to look it up Wow narrow comm and you know They're probably gonna implement it. We can see how it goes Does that answer your question okay great any other Okay, so if you have not there is a blog post that's put out by Because they for those who don't know see a coin was kind of trying to be ASIC friendly and come up with their own ASIC first So that way just everyone can have one and not just monopolies by some different people and along the way They learn many many lessons about kind of how ASICs were kind of how computing works and stuff and people here Maybe in different levels of knowledge. I know I am there some things. I'm strong and some things I'm not strong in but the idea is that you can always optimize for one particular algorithm But then on the other side in terms of general computing it doesn't do as well So on a spectrum of zero to ten a CPU that our computer is very inefficient But the benefit is it can do a whole bunch of stuff, right? So then alternatively you can optimize for just one thing But then it does general things very poorly and that's that spectrum that we're looking at so FPGA are kind of that in that center area Normally you're not going to see anything in that center area because if you're going to go general You're just going to go all the way general if you're going to go application specific You're just going to go all the way application specific So you're on either end of the extreme FPGAs are kind of in that center so that way they're kind of Reprogrammable to be able to do that type of thing and there's nothing we can really do to stop there Obviously alternative things such as proof of stake which we don't like for various reasons and we can get to those in another time There are ways of trying to secure the blockchain But at the moment we feel that proof of work really is the greatest way that we're doing that at the moment And this is for economic reasons as well as for Cryptographic reasons and in terms of proof of work. There's not that much There's not an answer to FGC, but we just want GPUs and CPUs to still be somewhat competitive as opposed to If there's an ASIC really you can't just be you can't be competitive at all So the part somewhat of still of a threat, I guess you could say I think the word They are somewhat of a threat, but nowhere near as much as ASICs and we want it to be as essential as a competitive as possible And that's in that regard. Does that make sense everybody? Did I answer your question? Anybody else have any requests? Say one more time? Group mining. Say again? Mining pools, okay Right, so so pool mining of course if you have several pools that control the majority of the hash rate then they can collude and Perform 51% of taxes Together they have 51% of the network, right? So this this is definitely something and it exists and what can you do about it? Well, you know there has been some talks in Monero like what what what? We were to propose a sort of algorithm of sort of pool. It's similar to pool mining, but you mine individually in Because so the idea behind pooling is that everyone gives their hashes to a pool who submits it to the network period So all the hashes come from the pool. Thank you very much all the hashes come from the pool Whereas what if all the hashes came from the individuals but the payout is still to a pool? Does that make sense so that way it Decentralizes in that way so the hashes come from individuals, but it pays out to a pool Which gets then gets distributed depending on how many hash how many shares that you put in like that So you know there's discussions and things that we're talking about in terms of that But once again these things are pretty far down the line in my opinion and none of this stuff is set in stone There's nobody has really solved any of these problems cryptocurrency is so new nine years pretty soon here Bitcoin came out Nine years ago pretty soon here And because we're so young that's actually what makes Cryptocurrency such an exciting field to be a part of this is the new frontier This is something that could that like like you if it's not been done for going go try it Let's tweak it. Let's tinker with it. This is like what the internet was My gosh, it's like what? I Didn't see the rise of the internet. I'm too and so it's up to you hold it like HYC HYC basically coded the internet just just so you know Your question Okay, any other question. Sorry. This is a discombobulated open speech, but yes. Yes. Yeah. Yeah Yeah, this is this is definitely something like we never know who's compromised the core team compromise and the developers compromise that type of stuff And really we just have to rely on the principles of open source keeping the code just available for anyone to look at and this is this is for the core implementation That is stewarded by the core team anyone can make their own implementation and close source it Anyone can make their own wallets and just keep it closed source anyone and the Monero community Anytime there's anything proprietary that is that is proposed the Monero community says, you know what? We really are not a fan of this and we don't recommend that anybody use this anything that it's not open We don't recommend it and so there was this wallet cake wallet and they were for the iOS and they were very exciting because they Wanted one of the first iOS wallets for Monero you can go to cakewallet.com and take a look at it And the guy who launched it didn't was it really he wasn't malicious But he didn't really know a lot about open source ethos And so it was proprietary and the community there was a big pushback from the community said we would love it If you open source this code and he did he was like, okay I hear I hear all this feedback and so he open source the code everyone can look at it And now it's one of the most recommended iOS wallets in Monero So we we really put we really stick to the open source ideals And we really stick to the idea that everyone should be able to audit that code themselves to make sure that nothing malicious is running on their machines Anyone else yes the ring signatures Right, and and it's really hard to tell which is going to be the case with any given thing that comes from any source Right, and at this point all we can do with Monero is see how do we improve? How do we make it better and the idea is that even when we're not hearing this stuff that people are cracking the Cryptography and breaking the ring signatures and stuff like that even when we're not hearing we have to assume that people are trying to do it Silently so we are always looking to improve always looking to increase our ring size or maybe move away from a ring signature scheme altogether If something comes along that is still trustless and doesn't require trusted setup, right? So we are always looking to make things better as an example bulletproofs The biggest part of it because okay, let's start here Because Monero implements so many so much privacy technology on top of the typical Bitcoin transaction The transactions are typically much bigger than Bitcoin once right and the large portion of that is taken by our range proofs Which is proving that the number falls between a certain set a certain range right bulletproofs is something that was very recently come up with by Bunce I don't know what I don't know his name But we Monero research lab we looked into it we coded an implementation We got it audited and it's going to be replacing our current range proofs And it's going to reduce transaction sizes by about 80% and what are we doing with the savings? We're looking to potentially up the ring size This isn't set in stone yet, but we're looking to potentially up the ring size as a result So instead of mixing with six other people around you you're gonna be Ten other people so we're using savings to increase the privacy because ultimately yes This does come down to glorified statistics where and you say okay What is the probabilities and what are the statistics that this guy makes with this guy mix with this guy? sources and time and this is something that that we're talking about it and time like sometimes like a passage You could potentially map out all of this stuff, but Heuristics and it's still based on probabilities where you say okay, well we can be 50% sure 40% sure I mean when it comes to practical real-world use case that Is that enough for a jury is that enough in the court system knows who can say oh and at that point It's kind of out of our hands as a Monero community All we can do is just keep looking to improve and get better and better and better and we want to be like tour We don't want to say like we are the one-stop shop for privacy, right tour tells you you to change some of your browsing habits you need to change how you do some of your things and Be careful of some of your information that Narrows the same we're gonna like we're actually currently on the Monero Which work group is working on a best practices type thing how to use your Monero effectively and We're moving to because people can do stupid things like choose a typical ring size instead of mixing with seven people Which is the default they can choose to mix with 23 people and if you do that every single time now all of a sudden those Transactions of things that makes sense. So we're trying to come up with best practices recommendation Minerals actively so you can still be private Okay, anyone else of course Okay, so we are gonna be talking about this in depth and many of our speeches I can give a very very very brief idea. How does the question is how does a Monero differ from Bitcoin? So this is very loaded. This is very big Bitcoin is It's built on the blockchain protocol price and technology, but at its core it's open and transparent default You can put some Bitcoin numeric string into a block How much Bitcoin that has and every single transaction is ever done So how many times it's received how many times it's sent that's a different type of stuff, right? To us this is the equivalent of posting your bank statement or your PayPal statement or whatever Online every month for anyone to see and if I was to ask people would you feel comfortable showing me your bank statement? The answer for everyone is pretty much. No, especially if I'm like, okay. I'm gonna share this on my social media I'm gonna post this online for everyone to see this is basically what Bitcoin is doing And so a lot of people are looking at Bitcoin like it can deliver us from the state or you know people are in it for Different reasons, but really this allows for an unprecedented level of surveillance into people's finances if Bitcoin ever gains real traction because they can even though it's very difficult to Even though it's an alphanumeric string and not a name that's on there if you can link that string to a person Then you can know how much money Bitcoin that person has at any given time There are loves watching technology and all the benefits that it brings but this becomes unacceptable to us from a privacy perspective from a I control my own data perspective and So we decided you know, we're going to encrypt the well not encrypt There's a lot of different technology when you're talking about them soon the sender the receiver and the amount So that way the blockchain is still open for anyone to view but unless you have the private key like I think of it as a specific Magnifying glasses being crossed. Okay, only you can see your transactions Only you can see how much money that you have and this has real-world ramifications Dangerous if I'm traveling someplace in the third world that's known for criminal for criminal activity and I go to a taco stand I love taco. Okay. I go to a taco stand and I purchased something with Bitcoin that that vendor sees this much Bitcoin coming from Sedrat and he can put From cuz I paid him there into a block explorer and say hey this guy's got a thousand Bitcoin He's loaded. I'm gonna send my cousins and we're gonna mug and torture this guy until he gives us private keys Right, so there's real-world ramifications for this. Does that make sense? Yes, another question Yes, so blockchain analysis is becoming bigger and bigger with every passing day And there are ways that they're coming up with and whether they tell you or not to Link for addresses Because it's still open so you see it go from here to here to here to here to here to here I guess it could be any number of things, but especially if because I Bitcoin with I see AML Exchange right so you have to give you stuff and then if you put it through 10 Addresses and then you take out your Bitcoin also through a KYC AML exchange They can be reasonably sure that you basically just send it to yourself a bunch of times That's a very simple heuristic that I'm giving you they have much more advanced ones and statistics to try to link transactions across the Blockchain, but this also means Because the best practice is that you save all of your private keys that you use just in case you left your Bitcoin Some Bitcoin here and there so even if you have burner addresses Maybe I found some Monero in a wallet that I totally forgot about you know what I'm saying And so if you if you generate 1,000 addresses in an attempt to be private that is actually not very good It's best practice to keep a thousand of these private keys just in case whereas with Monero you keep one private key you secure it well and As well nobody can see so why go through all this trouble of generating address after address after address after address In a way of trying to keep your privacy when there's something like Monero that you don't have to go through any of these extra steps And does it by default? That would be my answer to that Yes, is it possible to detect them? Yeah, okay, and this is this is one of my personal misgivings with Monero Okay, actually one of the benefits of Bitcoin is that anyone can audit and make sure that the supply is Exactly how we think it's going to be okay And when you have technology that's perfectly blinding So with meaning that nobody can see there is a potential that if someone cracks the cryptography The privacy itself won't necessarily be broken what can be broken is somebody can send themselves an infinite amount of Monero or Zcash or any of this type of stuff and nobody would be able to notice because it's an encrypted blockchain How do you see right and so that this is this is a legitimate concern potentially with Monero and with any of these private crypto currencies where you say okay, but is this worth the trade-off is are we Willing to be transparent to the potential of surveillance So we can audit are we are we willing to trust in the cryptography? Of course if Monero's cryptography is cracked Monero uses battle-tested cryptography if Monero's cryptography is cracked I think the least of our concerns is what's going to be happening to Monero because like internet and passwords and all this Different type of stuff is because it relies on commonly used elliptical curve cryptography So if that's broken, I mean we're screwed in a lot of different ways, you know So some that that is something that's often brought up and that's that that legitimate thing I can see That's a legitimate concern that I can see how can we verify how can we and the idea is that the protocol may help certain things and as long as and if it doesn't allow the If you send a transaction that that does not adhere to those guidelines Then the the network is going to reject and so we can be really sure that everyone Participating in the network is operating within these guidelines And so we can look at the coinbase transactions for those who don't know a coinbase is not just the name of a company It's the term for when a new Monero is minted when new Monero is minted and given to minors We can add up all of coinbase transactions and see how much we expect there to be in existence Does that make sense? Oh See hard to mine is gonna be talking about this when he gives this speech our team mine is a Corbin team Monero member He could say hi just go ahead and raise your hand He's been talking about in this speech Monero is not a fixed current. It doesn't have a fixed supply There is a small tail emission at the end. So after all of the Monero is issued There's going to be zero point three Monero per block. I mean per minute So zero point six per block that is going to be issued ever after indefinitely and because it's a static amount and not a percentage Over time as the amount of Monero goes up the percentage inflation is going to get smaller and smaller and smaller and as well People are going to be losing their private keys which lessens the overall amounts of Moneros and stuff So over time we expect those two things to to roughly equal so that way in total No new Monero is going to enter the system per se and he's going to talk more about that because we've got a dynamic block chain I'm not watching a dynamic block size that depends on the tail emission and stuff He's got a great stuff to say about all that different type of stuff. How much time do I have left? Yes, yes is Monero you okay? It is like UTXO except they're not called UTXO They're just called TXO because the U stands for something and somebody will be able to better answer this question than I Okay, and you cannot say you cannot see which one is unspent in Monero is the idea. So we just call them TXO Any other questions? Okay of quantum computing and the threat that that poses is that that's the question okay, okay So the question was just for I keep forgetting to repeat these questions for the video and for stuff like that The question was is there anything that we can do to kind of prepare for the upcoming quantum computing threat? Kind of to Monero and you know what do quantum computing? It's it's coming along Nobody really knows how powerful it is how powerful it's gonna be what the cap is and so it's read anyone who says we're quantum resistant We're good to all this different type of stuff. They don't know we don't know Like over work we're coming little by little and we're all learning as we go so in the event that it happens MRL Monero research shop is looking into this type of stuff and they're saying okay What what what are some feasible things that we can do what is reading some papers keeping on top of all the latest research on the subject? But at the moment we don't have any real recommendations because we have no idea like what quantum computing is capable of or if it will Ever become as widespread as we think it what we might be it might be a bust a lot of things are about you know what I'm saying So anyway, yes Mm-hmm. I mean if if it will do what we think it will do then it could potentially break elliptical curve cryptography Which once again we're in for a slew of problems not just Monero right if that's broken because everything's great based on etc No, okay, there was one other hand that I miss it was somewhere in this area of the something or others No, no, okay then Any other questions any last-minute questions? Yes, I do not and and let me tell you why okay, so I'm gonna I'm gonna I'm gonna skip a little bit ahead in terms of this village here And I'm gonna tell you guys about some called fungibility who's heard of that work Okay Pungible basically just means that one of something equals another of the same something and I'll give you an example So it makes sense if you have a dollar and I have a dollar and we exchange dollars We now have different dollars, but no transfer of value has taken a click. We both have one dollar So one of the issues with with bitcoins Transparentness Okay, is that if a bit coin goes through a illicit transaction like a dark-nit market transaction any that type of stuff I'm not giving commentary on what I think of all those things, but like let's say it does right it becomes a tainted bit and You know even if you had nothing to do with that transaction Let's say they transacted over there did that thing and then this guy buys a t-shirt from me now I have this Bitcoin right because I gave him that t-shirt now all of a sudden who knows who's gonna come knocking on my door Hey, you have a Bitcoin and you're suspicious. You're a suspicious person and maybe civil forfeiture We're gonna go ahead and take that Bitcoin as evidence, right? So because tainted bitcoins have this history associated with them They can some people are willing to get rid of them at a discount So that way they can have a better bit, right? So I'm willing to sell my one bit coin for 0.9 bitcoins because I know that these zero point It's been any won't lose it civil forfeiture Whereas some people are willing to pay a premium for newly minted bitcoins because they have no history associated with them Right and we see this we see this in the real world as well Whereas let's say I have two cool little trinkets right two trinkets that are exactly the same But I can prove 100% that one of them Belongs to somebody famous Napoleon Lady Gaga doesn't matter right now all of a sudden even though These are the exact same thing the price of the one that is associated with somebody famous just sky rock us So it's not fungible one does not equal one and so with the Bitcoin example if you have a Bitcoin and I have a Bitcoin And we just exchange bitcoins one-to-one Maybe a transfer of value has taken place if I gave you a tainted one you gave me a clean one yours could potentially be worth less So Bitcoin is not fungible one does not necessarily equal one And this makes some people nervous because anonymity is a technical requirement for fungibility Because you can't see where it's been and you don't care the dollar example the cash in your hand You don't know where it's been you don't care where it's been all you know is that you can spend it at any place and get a dollar's worth of stuff and Bitcoins not like merchants don't want to have to check every single Bitcoin transaction to see if they're getting something bad And if they're getting less than what they should be getting right so Menero solves them with privacy by default and Mandatory so all the coins look the same you don't know where they've been you don't know where they're going and you don't care and a lot of the other Pipe the key coins Zcash dash all these other ones that have different claims to fame They implement privacy optionally opt in you have to choose the privacy option and when this happens inevitably only a small fraction of the transactions end up using the privacy feature and Really what that does is it makes those ones stick out like a sore thumb. So if I'm a regular guy I Transparent transaction transparent transaction transparent transaction private transaction. They're like, oh wait wait wait Do you know that it needed to be private? You were doing transfer and transfer and now private all of a sudden so in a sense that also hurts the fungibility because they Could say the government or whoever we will not accept any coin that has been through a private transaction in the past 10 11 whatever so now all of a sudden if you have one of those You can't spend it in place. Maybe you can't use it in some countries with Menero It's all or nothing. They can either say you cannot use Menero period or you can use Menero so I'm not really a fan. I'm not a Menero maximalist per se. I'm a privacy advocate first and foremost I'm all about privacy and it's because I'm a privacy advocate that I'm for Menero and it's really easy to make a Competitor to Menero. All you have to do is make a coin that is private by default and mandatory with good research going down and privacy Technology competently implemented, but nobody's done that yet Everybody makes everybody makes optionally transparent optionally private transactions and so because of that no other coin is fungible. I This may sound strange to hear and I'm saying going to say it very bluntly I do not think there is another crypto currency in the real sense except Because of that build the issue that most of the coins are forked off from Bitcoin You can hear it that transparent ledger because the other private coins only do optionally optional privacy It's not fungible. There is no other coin that is actually a currency then Menero You can make one just make it private by default I want Menero to have competition that will spur everybody onward that will make everybody keep going Applies are bad, right? Make more of these things please by all means that will further the research that will further the everything But but like don't don't like do it halfway Do what's needed to be done? Yes? Yes, Zcash Right if Zcash was to implement Everything needs to be a shielded transaction then that would definitely help with its fungibility It still has a trusted setup so we say but Mobile devices using that type of thing, right? So ultimately this is a conversation that probably used to be had with some of our table people I'd love to hear your opinion come talk with me afterwards. We'll discuss it. That's totally fine I'm totally down with this but in the meantime any other questions. Yes Yes, okay, so we have a cool little banner back there for the Menero research lab They're not here right now, but they will be manning that table sometime soon The Menero research lab is part of the Menero project The Menero project. Let's take a step back here The Menero project is kind of an umbrella that is stewarded by the core team of Menero that Covery Menero research lab the Menero coin itself is basically a suite of softwares and a suite of research that happens by people Want to further privacy and it's very decentralized, you know, there's no leaders. There's no bosses. There's no corporation There's no foundation so the Menero research lab is a group of researchers that get together and They read the papers and they do their own research and we're actually putting out a paper on a new multi-signature scheme and stuff like that To further Menero and further privacy period They so they check all the latest research and stuff and they so Menero because it didn't take a pre a Premind an ICO or anything like this is one of the very interesting parts of me I'm going to to to deep into this but and This would actually be very very For the crowd that's here. I think it would be very appreciated because did not take a pre-mind There's no ICO. There's no foundation. There's no corporation or people just giving money to anyone willy-nilly Whenever something needs to be funded in Menero whenever something needs money That person literally makes a proposal and said hey I'm willing for 50 Menero to work for three months or to make a series of videos or something like that And they give it to the community and they say will you find me and if the community likes the project They will donate Menero So that can do what they said they're Would that that's incredible? We don't have anybody just handing out money and we don't take a tax on the on the on the On the buck reward or anything like that. So the Merrill research lab We have HD researchers that every three months. They put a proposal Surrey and Surang Brandon and Aaron you'll get to meet them if you go by the table a little later on They are funded by the community competitive salaries To just do a bunch of research on privacy technologies in Menero So that's the Menero research lab that those people are kind of the leaders of the Menero research lab They're not anyone's boss per se because we don't have that formal structure But everyone greatly respects them and we follow their recommendations generally and this is something you're gonna Commonly find throughout all of Menero is that there's no explicit leadership structure. There's no formalized anything It's just a bunch of organic groups forming together There's a bunch of designers they're gonna all get together say let's design something if there's a bunch of marketers They're gonna all get together and say let's market something a bunch of developers a bunch of researchers all that different type of stuff we call these work groups and They can have whatever structure they want Any other questions? Now we're good you All right, dude. What time is it? Somebody give me time 1040 oh wow actually pretty good. I mean so if I if I if I finish then it'll be only 20 minutes until HYC's talk and he's gonna really do that. Did I just did I step all over your toes? Oh My god, I am so sorry. Please forgive me. HYC. He's just gonna come up and say everything. I just said again I'm just gonna he's gonna do it better. He's much more technical. He's a developer. He invented the internet That's going about that so Yeah, once more big big welcome to everybody here welcome to the Menero village take all of our free stuff Talk to all of the people ask questions. We love that you're here Thrilled to be a part of Defcon. We're thrilled to be partnered with BCOS into these guys over here They got their own table talk to them. They're doing great stuff. Please enjoy yourselves. Come on back bring your friends We have three pages if you go if you go if you open the Defcon booklet thingy We have three pages our agenda three pages of talks just back back to back talk So please come come see all of them That's it. You are all beautiful people. I love you. Thank you