[Music] hi thanks so much and thanks so much uh for uh keeping listening to me after vitalic session you're my soulmate and yeah I'm a founder of INX and the we are building stateless withum so what is in inmax it's quite clear prma scity combined with strong privacy on the same security Assumption of blups so this is all about our in Marx and the know you can expect that know this kind of very strong features know people uh very kind of strong people no making that like this are mro musle pumping opener but actually our
members quite are normal people uh with a very at home atmosphere gy so Tech overview of INX is like a yeah it's a stateless layer to making normal privacy with extreme scar ability so mathat it's a mathematically the best scity in terms of payments so we are kind of focus on payments or conditional payments so this is the reason why are we are we can have all of almost no good features like know unsto ability on the extreme scurity privacy on the yeah and offline safety and this kind of stuff and also we are making
a kind of let's say normal privacy uh which can be said kind investable privacy and the it can be compliant and trustless at the same time on P Mission or privacy mining is there and also we are targetting normal people instead of kind of let's say her uh kind of privacy monsters no like no using the old privacy too or know for all days and you know we can make a privacy more normal for ordinal people this is kind of ordinary people this is what I what I'm doing uh with this uh project so what
is the stateless dmer so okay maybe almost all you guys have know kind of trma of scalability in blockchain space right like uh no decentralization and the uh the safety security and the know scalability know this kind of trimer and it's so by our layer to somehow and the in we we have another kind of trma in layer to space this is a what I'm talking about here so statelessness is all about the scalability no basically state is all about postive minimum data on chain and this is our no what we call privacy right uh
sorry scalability right and also Capital efficiency and offlight safety is like a no you you don't have a ux problem uh like a requirement of running noes or uh requirements of being online uh to keep eye on the other people like like in lightning Network or kind of capital efficiency is like no you can if you deposit wi you can use that wi immediately this is a capital efficiency so yeah inmax 2 and plas X are if we combine them we can complete this triangle and this is basically uh trma and you cannot complete these
at the same time but yeah we we almost there so and the other stuff is like a impossibility of stateless blockchains proposed two years ago by uh a16z researchers uh and the their title was limit on revocable proof system with application to stateless blockchains and the no basically what they stated is totally correct and the system must either have a linear size Global state or require a linear rate of looger proof update and so this statement is quite right and it's proven by uh kind of strict mathematics or strict uh cryptography so it's fine but
the problem uh there so many reason why so many people misunderstanding that stateless is impossible uh it's actually uh coming from yeah basically the the reason one of the best kind of biggest reason is people did not read the paper and the second thing that know this kind of uh stuff complexity of this statement so basically it's saying that stateless system Nether frequent local proof update and the local proof update it's not a kind of crazy demon destroy everything basically we can makeer many things are uh with local proof updates frequent local proof updates and
the no in in system we are having a communication with between no and the users and we don't have to uh makeer kind of heavy Online requirements or kind of local proof up dat which are in danger many people are know on the user side we don't have that actually so yeah let's say statelessness can make a low frequent local proof update but it's fine uh it's not the demon and it we can make a safe system with local proof update so yeah basically online requirement is the key uh to eliminate the problem so on
The Today I want to talk about privacy more and yeah so we are plasma and why privacy is needed why do you talk about privacy so let's talk about the market stuff here so in 2013 and to 2014 the first crypto bubble making kind of self custody or less scary so before that that age people quite scared to to move their asset from their kind of exchanges and the first move happened are here know this period so basically a it made a safe custody normal and in Ico Buble in 2017s to 2018s are making onchain
investment less scary right on the people started to invest in in foreign countries and foreign project as a proceed in Ico staff and the it's all about making own chain investment less scary and 2022 2020 our defi Summer started and the know people start to lock a huge amount of money on chain and this this was kind of scary stuff before that before cound we didn't think that kind of uh locking private uh locking asset on Smart contract it's kind of safe stuff or non dangerous stuff and yeah let's say it started on the and
before that age people said that defi does not make any money or kind of R in this space but it happened after that in 2024 it's time to make privacy less scary and yeah maybe some of you guys are talk about the Privacy it's like avoided but we can make it kind of more un Shady un shady and it's like a shiny uh privacy so if I keep saying uh privacy it's not scary it's not scary with her angry face are maybe it's a bit scary so I don't I don't keep going this but basically
privacy is will be normal after after this uh period we can have a shiny privacy period on the making a privacy investable again so let's make let's scale privacy so why should why we should scale privacy are in terms of technical scale and also social scar ability so technical scar ability is all about the TPS and functionality right so yeah enable user to do new things with privacy and they also uh no high TPS for privacy and the social SC ability of prives like a legitimacy or legal stuffs on the on the ux side and
all these four of scaring privacy stuff it's done it's happening and the No it's it's already started on the I think that there's no problem left in this space simply because the last uh last problem of the legal legitimacy of privacy it's completely sold by the new trend of the uh kind of privacy pool uh with the Regal compliance so we can make a cryptographically uh convenient uh no privacy to corporate with regulatory or no regulations and regulators and the no police or authority and the no privacy is kind of programmable today and it's more
kind of flexible than before so we don't have to make a kind of no ma ma musle pumping guy are no kind of no beating their no uh the governments we we we can be more kind of normal privacy people uh to cooperate with no kind of uh Authority and this kind of stuff of course I know like David Jam said our government is quite dangerous of course and the no there are already so many are dangerous on the UN legitimized government are no attacking people so of course cryptography is against that and the know
we we can protect people from them but yeah we had so many uh unnecessary conflict or no so for so so we can go more kind of cooperate way uh Cooperative way with a new programability which uh new kind of cryptography has so TPS on meta pracy I I want to obsessed to talk about this uh because the TPS if we have a TPS uh for privacy like uh lightning Network for example so like using the fact of lightning network doesn't leave you any kind of user type information so for example if you use a
torado cash or monello uh your address is kind of obviously uh privacy user right but if you use int Marx or lightning Network you it doesn't uh it doesn't expose any kind of user type information it doesn't mean that you private user because we have the best cability as well in terms of payments so you you don't you can tells that this address uh is a privacy user or this address is scity user right so basically mixing the type uh user type information is quite important so the previous privacy is quite kind of uh consist
of the very specific privacy Believers but new privacy we can make a more anonymity set no Wier normal people and this is kind of making a more legitimization of privacy so yeah normal privacy is like a more like uh no kind of privacy fighter it's just a manner of there no should be common in human society like uh no like a knocking door uh of your children and the knocking door uh of your uh girlfriend room and these kind of stuff no it's just a Manor and the why don't we encrypt our transactions in Crypt
space no this is a crypto space why don't we encrypt our no our transactions it's strange right so basically privacy is normal and we can make it kind of more uh privacy space normal and shiny and not shady and the last part is Unstoppable uh unsto ability should be guaranteed because it's if it's stoppable it's nothing no it's it's not the sustainable on the non-sustainable Privacy no finally leave you everything hard in the future right so basically privacy stuff should be uh sustainable and Unstoppable and maybe Bic talk about inmax a bit and the know
inmax has a inmax has fired uh validated actually because there's no job left for them uh their client side ggp client side computation and client side data preservation happen on on your side user side right so basically there's no job left for for kind of uh block producer or validators so we can make a truly decentralized block producer system uh any can anybody can be a Blog producer instantly uh they don't have to store data they don't have to do anything only they have to do is make a market tree with consist with transactions so
this is their Aller unstability of uh uh this project in Marx so let's say yeah the validator a block producer of inmax is can be it it can be a Windows XP note uh or lbry Pi 1 or something like that so it it's I'm really looking forward to having their decentralized or super decentralized Unstoppable on the light uh Brock producing system uh in in three months so I don't have a time for for now so I will skip this or no explanation but no basically there how to cook to how to cook privacy uh
sorry uh stateless system on the no basically only we need to post on chain it's just a hash of the no Market tree everything else is on client side and there's a very very uh interesting uh way to con construct that with recursive the K be uh know doing that in a strange way and yeah uh I don't have a time today but yeah I will uh share your uh share my kind of pres presentation later and okay so this is uh all about in Mar thanks so much [Applause]
