good morning everyone please yeah take a seat yeah yeah thank you so much for coming to the second edition of Bitcoin Renaissance in so so this is the second edition and actually we did the first Bitcoin Renaissance uh early this year in East Denver so do does anyone know what we turned the E Denver into because of Bitcoin Renaissance yes the last e Denver become Bitcoin Denver because of Bitcoin Renaissance so this time over we decide to bring the Bitcoin Renaissance to the Asian Pacific uh time zone so then we Peak Korea it's a very lovely and very vibrate crypto uh country so here we are so when we design Bitcoin Renaissance or career audition we ask ourselves who should we invite to this event it's this event uh Bon ecosystem event or it's a Bitcoin ecosystem event the answer is obvious it is a Bitcoin ecosystem event so actually more than half of the projects and speakers we invite uh today more than half of them are not Bon ecosystem projects because we believe babblin is just a contributor to the great Bitcoin ecosystem we would like to invite all the thought leaders Builders and ecosystem contributors to this event to share ideas share thoughts and drive Innovations together in an open and constructive way so this is why you see there are so many projects very nice projects old projects OG projects new projects all in the same room hopefully yeah through this Bitcoin Renaissance event we can all find a lot of synergies with each other yeah and thank you everyone for coming uh thank you for our co-host out layer our distinguished speakers our sponsors and our ground crew thank you very thank you so much everyone and welcome to Bitcoin Renaissance okay now so I will do the first keynote at the entry so it will be a short one 10 minutes I will discuss a very simple concept or by asking first a very simple question how many Native use cases do you think Bitcoin the asset have F 0 1 2 3 yeah you'll find this question is not very simple to answer because the definition of native use case is not clear so in order to answer this question we first need to answer need to understand what is a native use case okay so in this talk I will uh discuss with everyone about about what is native use case of Bitcoin okay now in imagine you are a Bitcoin holder with some Bitcoin then what can you do with a Bitcoin hold it as a stor storage of value waiting for it uh value to appreciate pay with it lend it to someone for yield or you bridge it to a smarter chain so that you B coin can be used for some to do some smarter things okay now these are the four major current use cases of the Bitcoin itself but do you think all of them are equal use cases they are not equal use cases the reason is as follows if you look at the first two use cases holding and payment these two use cases are safe to use as long as first Bitcoin chain itself it's fine and second you as its user is fine okay so as long as Bitcoin is okay and you are okay these two use cases are very safe to use okay however if you look at the next two use cases landing and bridging it these use cases always introduce a third party for example when you land it to someone you need to wish for that the person you land Bitcoin to will not run away okay if you bridge it somehow then you need to trust either a custody or alternative coin uh collector or a price Oracle or some sort of third party that is neither Bitcoin chain your nor you as a Bitcoin holder okay so they always introduce some third party trust assumptions so the these use cases are not native use cases of Bitcoin okay so to answer the question I asked in a cover page there are only two native use cases of Bitcoin at the moment holding and payment okay so this is the case for Bitcoin what about other coins in the world of course any coin can be hold can be used for for payment but for many other blockchains and tokens there is a third use case which is called staking such as ethereum okay staking means you as the token holder you lock your token somehow to provide security to a proof of stake system so that the system is secure and in return the proof of stake system will give if you staking reward at the yeah reward for you to lock your liquidity okay so staking is the third native use cases the third native use case of many other proof of Stak systems or tokens okay so the question here is what if Bitcoin is also stable okay imagine a world where Bitcoin become stable what will it be looking like it turns out that if Bitcoin BEC stable it it will be a fantastic world because staking means you actually lock your Bitcoin which resonates perfectly withh holding you don't give you Bitcoin away to anyone else you don't move it around at all you stake which is also a treves holding so if staking can be introduced at the third use case of Bitcoin will not dilute the current use case of Bitcoin you will complement the most important use case of Bitcoin which is holding okay so staking is a desirable use case for Bitcoin if it is possible at all okay so the next question is whether Bitcoin it's stable okay then to answer that question again we need to Define what is staking okay staking here uh I list six properties the first three properties are definitive Properties or features for a staking asset the there are also three uh properties and the bottom which are very nice to have features that make staking practical okay now I would like to uh walk you through all these six properties one by one very quickly first is something called slashing which sounds very scary but that is necessary because what think about that why staking can provide security to P systems it is because if you as a Staker instead of securing the PS system you attack it then the token you locked can actually be slashed so this slash ability serves as a deterrence against any malicious behavior and this is why staking can provide security okay so Stak slash ability is lead definitive feature of staking asset any staking solution that does not have slash ability is fake staking okay now with Slash ability come also locking it means while you are staking the asset it's locked it cannot be moved around otherwise you can attack the system and then move your token to someone else and then Dodge slashing okay so slashing uh slashing and locking comes Hand by hand the last one is called unstable which means you lock you token to do staking but you can you are also entitled to exit the system ter anytime otherwise you lock your token forever then you effectively means your token is lost okay so slash ability locking and unstable are the three definitive features of a staking asset any asset that cannot meet these three requirements they are not staking asset then at the bottom we have three very nice to have ones first is called delegatable delegatable means uh you as a Staker can delegate your proof of stakes validation power into a third party validator so that you don't have to run a full infrastructure 24/7 monitor it and do it by yourself okay so this will allow especially good for small stakers it allows small stakers to delegate their voting power to a third party validator without running INF by themselves and with without giving their token to the third party delegation okay second is called partial sele partial s means when you as a a token holder or Staker uh X maliciously not 100% of you token get slashed it's only a subset say 5% 10% 3% of you token gets slashed and the rest it's returned to you um for example in the east staking when a malicious behavior happens only one out of 32 is it slashed so the slashing rate is only roughly about 3% okay so partial slashing will alleviate people's anxiety against slashing because they know okay okay even if something wrong happens I can still get most of my token back which will allow more people to participate in a state staking protocol the last one which is very juicy is called restake restablecer of token can be staked to multiple PS systems and earn multiple rewards rather than you need to have multiple serves of the tokens and stake it them to individual PS systems respectively so this will maximize the utility of your token at a higher risk so higher return higher risk is RIS RIS stability okay so yeah for Bitcoin to become a stable asset and to become a practical stable asset we need to make Bitcoin to meet all these six properties slash ability locking unstable d atable partial slashing and RIS staking okay before Bon Bitcoin staking is evented they are already projects try to do this but most of them failed because they always think Bitcoin chain is not smart enough so they try to bridge Bitcoin to a smarter chain and use the synthetic Bitcoin on the smarter chain as a staking asset but as I mentioned earlier bre region introduce counterparty risks so it is not native so that many Bitcoin holders are resistant to that with Bob and Bitcoin taking we use Advanced cryptography and Bitcoins build buil in a scripting language to build Bitcoin staking script on the Bitcoin chain it does not require any third party you don't have to give you Bitcoin to anyone you don't trust any Oracle third party multi and PC nothing is so problem Bitcoin taking it's trustless and self custodial yeah so problem Bitcoin staking is safe to do as long as Bitcoin chain is safe and life and you as the Staker is honest okay even if the PS system you are protecting it somehow compromised because of someone else attack as long as you don't participate in attack your Bitcoin is safe so bobbl and Bitcoin staking is safe as long as Bitcoin change safe and you are honest that means bobon Bitcoin staking introduces the third native use case of Bitcoin yeah here is some uh numbers about our recent minute launch uh two weeks ago yeah we opened 1,000 Bitcoin cap it a fied very quickly in six blocks and yeah uh it also triggered a very Fierce uh gas war and thank you so much for the rsts and retailer Bitcoin holders for supporting our initial cap yeah uh that's my that's the end of my talk so Bitcoin staking is the third use case the third native use case of Bitcoin thank you very much