 So, the Roboros protocol is the core of the Cardano blockchain. It is the settlement layer, which basically means that users can ask that layer to see whether the transaction has been integrated and its output has been accepted by the network. So, the settlement layer is one of the most critical components of a cryptocurrency. It is possible to take a single server and implement the settlement layer as a centralized service. While this works, it has a very significant disadvantage. It introduces a single point of failure in the system. So, while this would provide liveness, as we say, about transactions, so in other words transactions will be accepted in the system if the server is hacked or if the server is controlled by someone that wants to censor transactions, it will be completely at the mercy of those that control that system of what transactions can be included or not. So, this is why decentralization is extremely important for cryptocurrencies. So, decentralization is enabled to distribute the trust from a single point of failure to a set of actors that, distributively and collaboratively, will produce the same service of the settlement layer. This actually points to a classical problem in computer science that is known as consensus. Consensus in computer science has been studied for over 40 years and refers to the problem that a set of parties face when they want to reach a common agreement, produce the same output. While we have a very good understanding in the literature about this problem, all the solutions that have been studied before the advent of the Bitcoin protocol shared the same deficiency. It assumed that the set of parties that are running the protocol are known. Basically, there is a reliable naming infrastructure and the parties that are executing the protocol know each other. While this made sense for a classical system of computer science, it is not compatible with the way the internet works as there is no reliable name infrastructure that is globally available. So, for the first time with the Bitcoin protocol in 2009, it became feasible to think about solving consensus without assuming pre-existing names for the participants that are running the protocol. This is very important because it removes from the solution of the consensus problem, it removes any assumption about what are the participants that are running the protocol. The execution of the protocol becomes public and basically all interested parties are open and free to become part of the protocol execution and contribute to the integrity of the ledger. In this way, the integrity of the system is maximized and it is feasible to provide a settlement layer that is extremely hard to be disrupted. Nevertheless, a significant deficiency of the Bitcoin protocol is tremendous energy requirement. The protocol, in order to operate, it requires for the participants to solve what is known as proof of work. This means that each one of the servers that are participating in implementing this settlement layer, they have to solve a hard computational problem. They basically have to waste a lot of energy to prove to the other participants that their proposal for the next set of transactions to be processed is the one that has to be included in the settlement layer. This, while it provides to the protocol many of its decentralization qualities that are very desirable, it also comes with the downside of requiring an extremely high energy expenditure. For that reason, it was early on discussed in the Bitcoin community whether it is feasible to retain the decentralization qualities that are provided by the Bitcoin blockchain and remove the energy waste that comes together with the protocol. There are many ideas that were proposed by a number of people that were thinking about this problem, but proof of stake became the one that was the most prominent as the most convincing way of removing this need for proof of work and the energy waste that comes with it from the Bitcoin blockchain. So while proof of work is the fundamental component of the Bitcoin blockchain, by its very nature it requires energy to spend energy in order to advance the protocol. Now, what happens in the proof of stake case is that what the participants of the protocol do is instead of actually spending energy to advance the protocol, they refer to resources they have that already exist and are recorded in the ledger. This referral does not require the energy expenditure that happens with proof of work. This is what enables proof of stake to provide a similar type of decentralization as in the case of Bitcoin, but without actually having the energy waste that comes with Bitcoin or any other proof of work-based protocol. So proof of stake protocols, they try to take advantage of all the state-of-the-art cryptographic tools that are available right now to provide blockchain protocols that can actually scale and be more participatory than any other protocols that are in distributed ledger space. So because exactly proof of stake protocols are based on cryptographic tools such as diesel signatures, public case certificates, it is feasible to use protocols, cryptographic protocols that provide all kinds of useful services and build these protocols on top of proof of stake ledgers in a very natural fashion. So in this way proof of stake ledgers can provide a type of functionality which is quite versatile and can meet many, many different applications including electronic voting, supply chain management and many others that could be of potentially high value for distributed ledger applications.