Vitalik Buterin | Ethereum

we're superior concha right so the idea with aetherium is one that I came up with about back to 2013 and this one's when people are really starting to realize that you can use watching for lots and lots of things and so there are many different applications that people are starting to think both but the problem and unsex most existing watching protocols were basically designed like pocket calculator there long chains designed for one thing a lot of location and monthly levitation if you wanted to do something different watch for watching you have to create an entire you watching so that was stage one right now in 2013 people started with the patient they skewers keep the house Genoa budget smart guys putting together a room housing brainstorm for sort and you'll be might come up with different types of applications you would watch it now okay you can all the $0.15 obligations and you need to walk you into all the different types of transactions once i transaction for every application this seems like it works fine here's a problem three weeks later some really smart guys of you know meet some thirteen year old agar in finland is building a lot of sixteen type of auction application in order to the length of idea but the problem is that in order to actually tunis you would have to either meet an entirely new protocol or art for the existing with added to keep introduction so in this is a jumpring available it's actually sorted happen with the actual Swiss Army knife protocols would be boring so the idea is with Superion gives in we create a Washington protocol at specular channel in we create a protocol that doesn't limit itself to a specific set of allocating and then it tries to watch-chain that's a degenerate over on cold so that any applications to be both on holiday it so kind of like a smartphone you know if you want to do from you do all this work mode you don't have to buy any phone you don't have to Dec you know go to the store you're going to do Hardware module you can just download an app so that's the kind of spirit of flexibility that we wanted to bring to the blockchain so the idea basically is for any application that you would want to create you could try out the rules of the application in a piece of code then compiled code upholder go to watch it it creates the subjects that we call a culture in a contract is an object that you want to interact with you can leave it as VM design accessibility implement a set of rules in people send transactions to the contract that means to be want to interact with greatness so every transaction runs the google code-in idea code doesn't work so again in this case there was a code white twily register a domain the code might represent a currency the code leg represent the financial contract system is extremely flexible you can do lots of different things so the end goal here is to try to build a platform that's suitable to our and it building dependency centralized application right before building Annika listing of applications that hopefully eventually regular people to use we are all that gears a combination of different verticals so the public is going to be in watching up it's just when you get here message happening it's going to be something else you each collection of events why protocols together in order to allow people to directly interact with each other without relying on a central to be here so you know very simple available you don't get how exchanges right and it's not a blockchain you can just have decentralized exchanges and basically this is a pretty interface and the interview point to point to a smart contract an important contract has rules that say if you send a point of one type in general community of another type of evaluate or not if we go to get them if you don't send a point with this idea then wait a second I forgot you're plenty right so basically a simple logic for trading for one particular so that's one simple thing you can do now of course there's also what submit or work of one thing that you can do so this example flex and pollution insurance basic means it's business points to important projects which where you can put by an insurance policy and the insurance policy automatically get paid out if you need the eyes out the comfort of your flight on cancer abundantly so you can route out of the blind receipt or example company any obligations you can do you could you as the watch you can be a ninja use corporate governance on trading shares favorite directors tiny resolution source of everything prepare some a budget by various happen the non 28 rotate as well because such as this next pointless way to be a parity pretension so basically dat is that you know we want to try to build all these components for buildings in July passes can eat them and an extract abs can ask you know per attach security getting use its optimal so that other people on them [Applause]