BCOS Monero Village - Welcome Speech

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BCOS Monero Village - Welcome Speech
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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 IVC technologies with the talks that
we will have that talk about know the
scaling and how we plan it hit these things Research Lab is going to be coming up here we're gonna be talking about different we know we're not perfect we know we have have so much room to improve and we're not gonna make grandiose claims that we've got 100% 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 kurz currency that you can choose what to do with it that people can't come and say okay you need to do this with that you need to do this with you you need to show your records over who you shared it this is - de Coyne a hashtag just on the spot the Monaro difference when we talk about things like Bitcoin and kind of they're they're open ledger and we talk about you know on chain governance and all this different type of stuff this is what sets of an arrow 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 it'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 now 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 Manero 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 creations 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 IRS logs taiga 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 gonna 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 Monaro 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 but am I gonna talk about for two but so I decided I'm gonna have it on the game show and there's me 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 going to 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 online all right so what I've got 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 they're gonna be speaking like hyc our keynote speaker will become a neuro 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 tari and glow be who are working to build a second layer solution on top of on an arrow that's type of thing we got Manero research job covering animals yeah I don't know if every anybody knows the about covering how it's working if you don't please come to the talks you can find out see the Monaro community is not just about okay we're gonna organize Manero make the priceline 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 poverty which is talking which is a HIV router made in C++ and we want it to be available for any application not just Manero that
wants to use it because we realize that some people need that extra privacy some people need that extra you know grouting Qi through the ITP network to a look at 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 our currency to the world that we will bean 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 those beaches do whatever you need to do questions asked ask questions we questions and we are always willing to talk about people about how Manero is going to change the world we also got because of a test I don't think anybody from them is heap at the moment because stands for the blockchain cryptocurrency open security they've also got some cool swag to give away most of their t-shirts are gone this set goes fast man we got it we got a plan we got it my goodness lesson learned okay there because people these guys coming in there they're our partners here go talk to them see what they're all about doing great stuff yeah I don't think I could talk to her for that much longer but does it just first of all does anybody have any questions about the agenda about anything that we're doing this list soon as to Q&A what do you guys think hmm what do you guys I'm sorry the next speaker is right there that's Howard you he's gonna be speaking at 11 in I mean he brought a fiddle and I can like 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 don't you do because a lot of these things are gonna be in talks like that but sure I'm going to have you talk about this so the question was for those that didn't hear that there's been some disagreements within the Monaro community about basic resistance you know how because so for those who don't know Manero is committed to the asic resistant and if you don't know what that is please by all means come talk to us over there we're more than that happy to answer questions about that but that requires that every so every six months we manera tis a hard fork anyway to kind of upgrade the network and add new technologies like this upcoming hard fork we're putting bulletproof shrinks our range groups buy a lot lots of cool stuff talk to money our research lab lab but as part of our six months hard force we are changing our hashing algorithm we have slightly tweaking slightly tweaked slightly tweaking to keep Asics away now the argument is that this brings in an element of centralization because who's me who's calling the shots up here right who's think we're switching it to this or we're switching it all and what what parameters we're tweaking and all that different type of stuff so the thing that most people don't understand about the centralization period is it's not just like one big all-encompassing mass of decentralization you have the centralization 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 point is five out of ten decentralized seven out of ten decentralized cuz really you have to look at these things individually these different areas of decentralization and see okay how do you centralize this portion is this portion is this portion so the counter-argument to this ASIC thing is that if Manero doesn't for Kawai from Asics then there's going to be centralization of mining there's gonna be there's gonna 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 east weeks 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 listen all this stuff really is an experiment at its core Bitcoin is an experiment at its core Manero is an experiment at its core we're trying to we're burying it on and we're to see how can we change the world and along the way there's going to be snacks along the way we're not you don't claim to know everything but we're trying stuff out we're seeing it we're seeing how a cocoa and in this particular case the Monaro core team seven individuals - they actually don't do any development if you want to learn more about minerals governance we got good stuff on our website come talk to any of us over here we've decided you what we're going to try for the centralization temporarily in terms of development until Asics become such a commodity data 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 done everyone's got it on their phone everyone's got it on their something so it's not a plan to pork every six months till the end of time forever right it's just the idea that temporarily letting Asics on network is really going to be detrimental to everybody else what that's wanting to mine and we want to be as decentralized by possible in an area and long term we are looking to make we're looking at different solutions hy so here had a thing called random J s 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 no Manero the testbed up in the narrow to look it up Wow Norcom and you know they're probably gonna implement it we can see how it goes does that answer your question okay great any other question okay so if you have not there is a blog post that put out by cycling because they for those who don't know Co coin was kind of trying to be a Sikh friendly and come up with their own ASIC first so that way and just everyone can have one I'm not just monopolies by different people and along the way then there are many many lessons about kind of how Asics were kind of how computing works and stuff and people here may be in different levels of knowledge I know I am there are some things I'm strong as some things I'm not strong 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 0 to 10 a CPU die that our computer is very inefficient but the benefit is it can do a whole bunch of stuff top right so then alternatively you can optimize for just as one but then it as general things very poorly and that's that spectrum that we're looking at so FPGA are kind of that in that's center area normally you're not going to see anything in that center area because if you're gonna go general you're just gonna go all the way general if you're gonna go application specific you're just going to go all the way up okay since Pacific 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 a proof of stake which we don't like for various reasons and we can get to those at another time there are ways of trying to secure the blockchain but at the moment we feel that people 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 layers not be that one there's not an answer to that choice 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 become you can't be competitive at all though so are somewhat of so of a threat I guess you could say I I think the words between here they are somewhat of a threat but nowhere near as much as a six and we want it to be as decentralized competitive as possible and that's an every guard does that make sense everybody did I answer your question anybody else say one more time group finally say
again again the money 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 percent of taxes event together Network right so this this is definitely something and it exists and what can you do about it well you know there have been some talks in Manero like what what what if we were to propose a sort of algorithm of sort of pool it's similar to the pool mining but you mind individually in because the idea behind thing 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 if all the hashes came from the individuals but the payout is still to a pool does that make sense so that way it decentralized lines in that way so the hashes come from individuals but it pays out to a pool which guests in gets distributed depending on how many hash how many shares that you put in like that guy so you know there's discussion 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 this don't know there's nobody has really solved any of these problems cryptocurrency is so new 99 years pretty soon here Bitcoin came out Mountain nine years ago pretty soon here and because
we're so young that's actually what makes it cryptocurrency such an exciting field to be a part of this is the new frontier this is something that could that like you if it's not been dumped or coal go try it squeak it let's tinker with it this is like what the internet was my gosh just like what 30 40 years ago III didn't see the rising yeah I'm cheap it's up to you old like h YC h YC basically code in the internet just to see you know your question okay did any other question sorry this discombobulated speech but yes yes yeah yeah this is this is definitely something lately we never know whose compromises the core team compromised what the developers compromised 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 wallet then just keep it close service anyone and the Monaro community anytime there's anything proprietary that is that is proposed the Monaro 3 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 wall at cake wallet and they were for the iOS and they were very exciting because they weren't alone in one of the first iOS wallets from Manero you can go to kick wall at dawn to take a look at it and the guy who launched it wasn't 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 was a big pushback from the convenience said we would love it if you open-source this code and he did he's like ok 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 Manero so we really put we really stick to the open-source ideal so we really stick to the idea that everyone should be able to audit a code themselves to make sure that nothing malicious is running on their machines anyone else yes the ring signatures right and it's really hard to tell which
is gonna be the case with any given thing that comes from any source right right and at this point all we can do with Manero 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 green signatures and stuff like that even when we're not hearing that we have to assume that people who are trying to do anyway sigh lightly 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 trust and set up a time right so we are always looking to make things better as an example bullet proof the biggest part of it because the type thing let's start here here because Manero implements so many and so much privacy technology on top of a typical Bitcoin transaction the transaction is 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 bullet proofs is something that was very recently come up with my but I don't know but we the no research lab we looked into it we cut an implementation we got it audited and it's going to be replacing our current range groups and it's going to reduce transaction sizes by about 80% and what are we doing with the savings we're looking to potentially pop the ring sighs 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 nearing be ten other people so we're using savings to increase the privacy because ultimately yes this does come down to glorify statistics where an you say okay what is the probabilities and what are the statistics that this guy makes with the disconnects with this guy sources and time and this is something that we're talking about anti-mine like sometimes like a passive certificate you could potentially mean about all of this stuff but heuristics is still based on probabilities where you say okay well we can be 50 percent to our 40 percent short I mean when it comes to practical real-world use case that 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 ISM community all we can do is just keep looking to improve and get better and better and better and and we want to be liked or we don't want to say like we are the one-stop-shop for privacy right tor 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 could a connector the narrow is the same thing you're gonna be like we're actually currently the Monaro heritage workgroup is working on a best practices typing how to use me your Manero effectively and we're moving to because people can't 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 and now all of a sudden those transact things that make sense so we're trying to come up with a backpack best practices recommendation narrow actively so you can still be private ok anyone L know 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 Manero differ from big coin so this and this is very loaded this is very big Bitcoin is it's built on the blockchain technology but at its core it's open and transparent in default although you can put some Bitcoin that's a numeric string into a blocking see how much Bitcoin that has and every single transaction that's ever done so how many times I received how many times that type of stuff write to us 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 snow especially if I'm like
okay I'm gonna show 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 - 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 with bitcoin that person has at any given time there loves blotching technology and all the benefits that it brings but this becomes unacceptable to us from a privacy perspective from I control my own data perspective and so we decided you know we're going to encrypt the ball not encrypt and there's a lot of different technologies when I'm 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 15 cross not only you can see your transactions only you can see how much money that you have and this has real-world ramifications dangerous ones if I'm traveling someplace in the third world that's known for criminal the per 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 Peart that vendor sees this much Bitcoin coming from the dress and he can put from because 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 his private keys right so that there's real-world ramifications for this does that make sense yes yes so blockchain analysis is becoming bigger and bigger every passing day and there are ways that they're coming up with and whether they tell you or not to link dresses because it's still open so you see it go from here to 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 would I see a ml exchanged right so you have to give it to stuff up 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 on a bunch of time 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 bitcoins some Bitcoin here and there so even if you have burner addresses maybe okay I found some Manero in a wallet that I totally forgot about you know what I'm saying and so if you if you you generate 1000 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 you just in case whereas with Manero 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 a way of trying to keep your privacy when there's something like mineiro that you don't have to go through any of these extra steps and does it by default that would answer that yes is it possible to detect mmm yeah okay and this is this is one of my personal misgivings with manera okay actually one of the benefits of bit point is that anyone can audit and make sure that there's a supply is exactly how we think it's going to be okay and when you have technology that's perfectly blinding so good 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 Manero or Zee cash or any of this type of stuff and nobody would be able to notice because it's an encrypted block - how do you see right and so that this this is a legitimate concern potentially with Manero and with any of these private cryptocurrencies where you say okay but is this worth the trade-off is are we willing to be transparent to the potential of surveillance or are we are we willing to trust in the cryptography of course if maderos cryptography is cracked my narrow uses battle-tested cryptography if we narrow the cryptography is cracked I think the least of our concerns is what's gonna be happening to Monaro because like Internet and passwords and all this different type of stuff is because it relies on commonly use a little elliptical curve cryptography so if that's broken I mean we're screwed in a lot of different ways you know so something that is something that's often brought up and that's that emit think I can see that's a legitimate concern that I can see how can you verify how can we and the idea is that only certain things and as long as and if it doesn't allow the if you send the transaction that does not adhere to those guidelines then the network is going to reject them and so we can be sure that everyone participating in the network is operating within these guidelines and so we can look at the coin base transactions for those who don't know it Cohen basically not just the name of the company it's the term for when the new Minero is minted when numenera was minted and given to miners we can add up all of the coin based transactions and see how much we expect there to be in existence does that make sense oh and the Arctic mine is going to be talking about this but he gives this speech I take mine is a Corbin TV even I remember you could say hi just go ahead and raise your hand he's been talking about in this speech mineiro 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 Monaro is issued there's going to be 0.3 Manero per block only per per minute so 0.6 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 Manero 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 for all amounts of minerals and stuff so over time we expect those two things to do roughly equal so that way in total no new narrow was gonna enter the system per se and he's going to be talk more about that cuz we've got a dynamic blockchain I'm not stop watching a dynamic block side that depends on the tailor mission and so he's got great stuff to say about all that different type of subject how much time do I have that yes is Monero uu oh okay it is like UT EXO except they're not called UT EXO then just called TTT expose because the U stands for something and somebody will be able to better answer this question tonight okay and you cannot say you cannot see which one is unspent in manera is the idea so we just call them T excess any other question okay of quantum computing and the threat that that poses is it is that that's the question okay okay so the question was just 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 Monaro and said you know what 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 really one who says we're going to resist it we're good to all this different type of stuff they don't know we don't know like we're coming little by little and we're all learning as we go so in the event that it happens mrl no research table is looking into this type of stuff and they're saying okay what what what are sort of 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 of your recommendations because we have no idea like what quantum computing is capable of or if it will ever become as widespread as and we think it well we might be it might be a bust a lot of things are a bus you know what I'm saying anyway yes mmm-hmm I mean if it will do what we think it will do then it can potentially break elliptical curve cryptography which once again we're in for a slew of problems not just manera right if that's broken because everything's great based on ET cie them okay there was one other hand that I missed it was somewhere in this area of the something or others no no okay then any other questions any left my 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 something called fungibility who's heard of that way okay I'm jabal 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 it has taken me quickly we both have have one dollar so one of the issues with with bitcoins transparent it's okay is that if a Bitcoin goes through an illicit transaction like a dark net market transact any of that type of stuff I'm not giving commentary and what I think of all those things but like let's say it does right right it becomes a tainted Bitcoin one 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 buy the t-shirt from meaning now I have this Bitcoin right cuz I gave him that t-shirt now all of a sudden who knows who's going to 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 going to 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 Bitcoin right so I'm willing to sell my one Bitcoin for 0.9 bitcoins because I know that these zero point it's been anybody won't lose it this is a 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 that 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 belonged 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 I'm the one that is associated with somebody famous just skyrockets 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 two 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 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 with because you can't see where it's been and you don't care the dollar example the cash on 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 dollars worth of Assam 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 any less than what they should be getting it right somin Arab solvent 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 character and a lot of the other private key points Z caps - all these other ones that have different claims payment they implement privacy optional you hop in you have to shoot at the privacy aha 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 and transparent transaction transparent transaction private transaction they're like oh wait wait wait do you care that it needed to be private you were doing transparent transparent transparent 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 ten eleven or whatever so now listen if you have one of those you can't spend it completely maybe you can't use it in some countries with madero it's all or nothing they can either say you cannot use them a narrow period or you can use mini earlier so I'm not really a fan I'm not a Manero maximalist per se I'm a privacy advocate first and foremost I am all about privacy and this because I'm a privacy kid that I'm for mineiro and it's really easy to make a competitor to Manero 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 in 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 hey I this maybe sounds strange to hear and I'm saying gonna say very bluntly I do not think there is another cryptocurrency in the real sense except because of that batch ability issue that most of coins or if they're forked off from Bitcoin can Herot that transparent legit because the other private coins only do optionally from optional privacy it's not fungible there is no other coin that is actually a currency then Manero you can make one just make it private by default oh I want Manero time that will spurt everybody onward that will make everybody keep going on that not how please are bad right make more of these things please by all means that was 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 done yes yes right if Zeki was to impose if see cash was to implement everything needs to be a shielded transaction then that would definitely help with its fungibility it still has a trusted set up so we say but mobile devices using that type of thing right so ultimately this is a conversation that probably needs to be had with some of our table people I'd love to hear European come talk with me afterwards we'll discuss that's totally fine I'm totally done with this but in the mean time time any other questions yes yes okay so we have a cool little banner back there for the Monaro research lab they're not here right now but they will be manning that table sometime soon the Monaro research lab is part of the Monaro project the Monaro project listen let's take a step back here the Monaro project is kind of an umbrella that is steward in by the core team of Monaro that covering mineral research lab the mineral coin itself it's basically a suite of softwares and a suite of research that happens by pipeline 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 Monaro research lab is a group of researchers that gets together and they read the papers and they do their own research and the we're we're actually putting out a paper on a new multi signature scheme and stuff like that to further narrow and for their privacy period they so they they check all the latest research and stuff and they so Manero because it didn't take a pre-pre mind and ICO or anything like this is one of the pressing claim I'm going to too too deep into this but and this would actually be very very for the crowd that t-rex 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 manera whenever something needs money that person literally makes a proposal and said hey I'm Willy 450 Mineiro 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 fund money and if the community likes the project they will donate monaro so that thing can do what they said there 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 block reward or anything like that so the Monaro research lab we have key researchers that every three months they put a proposal sarey and sarang brandon in air and you'll get to meet them if you go by the table a little later they are funded by the community competitive salaries to just do a bunch of research on privacy technologies in manera so that's women every slab those people are kind of the leaders of the Monaro 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 we follow their recommendations generally and this is something you're gonna commonly find throughout all of the Monaro is that there's no explicit leadership structure there's no formalized anything it's just a bunch of organic groups forming together if there's a bunch of designers they're gonna all get together say let's design something if there's a bunch of marketers and 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 not a good chinky all right dude what time is it something give me five ten forty oh wow I actually did pretty good I mean so if I if I if I finish then it'll be only twenty minutes until hyc stock and he's gonna really dumb did I step all over your toes oh my god I am so sorry I please forgive me HIC he's just gonna come up and say everything I just said again I'm just kidding he's gonna do it better he's much more technical he the developer he invented the Internet that's gone about that bad so yeah once more big big welcome to everybody here welcome to the Monaro village take all of our free stuff talk to all of the people ask questions we love that you're here for so thrilled to be a part of Def Con we're thrilled to be partnered with vcos 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 DEF CON booklet thingy we have three pages our agendas three pages of talks just back to back to the hack talk so please come come see all of them that's it you are all beautiful people I love you thank you [Applause]