all right great uh good afternoon everyone um so today I will be talking about um how new bits uh on board like the next uh Millions uh crypto consumer apps uh first uh brief introduction about myself I'm I'm eang I'm a Founder at new bit and I'm also a CS professor at University of California C barabara where I conduct research in the space of uh compiler and web 36 security so basically you can think of during the day uh we are doing like a building system and project and protocol at newb and during the night so I'm leading a like group of 5 PhD student try to break other protocols finding bugs Etc um so what's is the problem that newbie is trying to solve so I call this problem as the last mileage problems in web 3 so what do I mean by last mileage problem in a sense if you go if you look from the bottom to the top so basically we have a whole bunch of uh L1 blockchain such as Bitcoin ethereum salana Etc and then so for those static tokens we also have a bunch of great protocol to basically increase their liquidity for instance we have Babylon as well as IG layer to basically increase the liquidity of Bitcoin and ethereum so that we can use them to to basically secure other uh blockchain and then so those protocol we also see like a further layers such as um lomba and Lorenzo Etc they try to further like increase the liquidities of those accepts so that those together can provide to Upstream like applications such as we have L2 we have L3 we have a layers and layers and layers of uh infrastructure so after with all those so you might wonder where we are right so you might notice that almost entire industry in VB 3 we are suffering from Mass adoptions right what do I mean by mass adoption in the sense that where are our applications where are our users okay so on the other hand if you look at uh people at the top right we do have a lot of talented uh web 3 developer and projects um and the most they jump in they have to make a Gillian amount of choices it's like working into a supermarket like they have to decide what L2 they should be settled on they have to decide what L what what L1 they should be using and then in terms of data like where should they store right should they use new bits or slasa or just store on bitcoin uh magnet so so what we want we I hope that everybody noticed this a problem but the question is how do we solve that right before making anything fancy let's stand on top of the shoulder of giants right let's take a look at how VB 2 achieve Mass adoptions right so and here I'm just using an examp a Very wellknown example WeChat uh which is one of the most successful products in web 2 so basically uh for those of you either you are using vat or you probably heard of vat um so what it does is that it has first it has billions of users and then vat not only provide like powerful and Clean Service such as socials and uh messaging as well as payments and including storage right and what's being powerful of this vat platform is that everything was being wrapping up in a very nice clean like SDK and what we call a VCH Dev tool so the powerful of this like architecture is that as the new like uh what what we call Mini program developer so when you try to build application on top of vat you don't need to worry about those underlying complex details right so you don't need to worry about hey whether my data should be storing on tenson cloud or Alibaba or AWS right you don't need to worry about this thing you just need to focusing on your own business you just need to focusing on onboarding your own users that's it so in this case before we go anything fancy wouldn't be nice that we can mimic a similar architectures in web 3 right in the sense that in this case um one of the lucky thing is that we have tegram which is provide similar functionality as vat and tegram already have billions of user for instance I think it was uh 7 days ago I think the uh number of user telegram they already surpass vat so which means that we don't need to worry about this community but thing is that there's a lot of things that we need to build for instance how do we handle payments how do we handle storage and more importantly even once we figure everything out how do we wrap up in a nice and clean SDK so that those Web Two programmer they can programming and build their own like application just like they do with like traditional web2 application without worrying about like where and how should I storing my data and is my in like it's going to be secure or not um so the picture looks nice but the question is that how right so as a founder of web 2 developer so there's actually a lot of difficulty they have to deal with like the first thing first you have to worry about how to write smart contract right so you have to be familiar with blockchain so that you can understand how your smart contract is going to interact with the uh blockchain and then after after that you have to worry about other aspects such as storage right which which layer I should be settled to and then what's and how should I be doing that should I use new bid or should I use SLA or should I just store that on ethereums and more importantly you also need to suffer some kind of a psychological like pressure so what do I mean by psychological pressure is that first you need to pay tax to whatever chain you're going to be launching on right so that's the financial project you have to deal with and then the second is every even if you s down everything you need to worry about security right because we are talking about billions and billions of money so which mean if don't program your uh architecture Carefree all of them will be gone because of the hacker and how do we solve this problems and what's the ingredients of new bit's way so right now I'm just going to share some line on three key ingredients so the first key ingredients is what we call a unified wallet so think about this is a payment module at Reet so basically ideally what this UniFi wage should be providing like a uni entry point for all their web CH users right I know that right nowadays we have like gazillion number of wet but actually none of them actually achieve the functionality that I mentioned so what do I mean by functionality is that first um so the W should be supporting multichain by default right in the sense that I don't need you as a user I don't want to and I don't have to basically interact with gazillions of L1 blockchain about my different access and the second is that they should it should support social locking right I don't want to regist register one new account per every chain per every wallet right ideally all I have is my account from Facebook or Google that's it right and then the third thing is that like the vage should be providing on on R and off Rand functionality in a sense that the user can easily withdraw and deposit their money uh just like what we did with weet and last but not the least because we want to achieve Mass adoption so which means that this UniFi wet should be inherently attached to some mainstream like uh social applications such as in this case teragram which already have uh billions of users and this is the first ingredient and then the second ingredients is what we call uh we want to empower user with their own chain and what we call Mini chain so why do we want to propose this mini chain think about you're making a sizable amount of money right do you want to have some decent Japanese or French dinner or do you want to have McDonald or KFC right so I'm pretty sure that everyone have the answer and the reason is that if every change R every application ran on the same chain it's going to be very difficult for every single chain to satisfy all the requirements from different application for instance the storage and performance um requirement is very in a game application is very different from let's say a poly Market versus a trade ball right and then on in this case we want to empower every single applications with their own chain which is what we call Mini chain but at this point you might you might ask hey professor you just mentioned there are layers and layers of chain at the very beginning right wouldn't be this architecture creating like a deeper and worsen uh fragmentations and our next ingredient is to resolving this fragmentation problems in the sense that once every application have their own chain in this case the founders of those application they are the owner so which means that as long as you can focusing on you have your user you have a good apps you can immediately turn that into profit but the problem is that how do we resolve their fragmentation problems and that's where um the third ingredient come into play we resolve this problem through two component the first component is what we call a universal Bridge the universal Bridge allow different like chain to communicate with each other in a very general but slightly less efficient way and the second layer is what we call uh is a DA layer the da layer in a sense you can think of all those train will be using new bits uh da by default which is secure by Bitcoin Staker so which means that because every application is going to have their own name space it's going to be very easy and cheap and efficient for them to uh passaging uh through like messaging passing and communication Etc so now as after we have all the key ingredients I would like to zoom out a little bit I would like to zoom out a little bit and how do we group everything together it's actually a very very clean architecture in the sense that at the top we have different kind of applications okay we have different kind of applications and then all they want is that so they're going to basically we're going to provide what we call this kind of meaning chain as a service in the sense that we are going to help this application to launch the entire stack from top to bottom they don't need to worry about storage they don't need to worry about execution and everything will be done in through this um architecture and so at this point you might wonder hey is this just sitting uh on a piece of slide and this is actually not so we actually already Implement a prototype of the architecture that we mentioned and then we already launch uh and onboard three uh tegr applications in our test net so which means that like there those kind of application they can actually leverage um new Bas mini chain as a service to empower their capabilities on chain and then within the first few days we already have over 30k uh daily F user which who generate over 120,000 transactions okay so finally I would like to uh add my closing remark by getting providing a quote from uh danro fight which is a core etherum um researchers basically what he said is that let's say you build a lot of road right but there's nobody living there is this valuable not yet right then you build a lot of business right but nobody want to live there because there's no job right and then you start to build Hospital factories tradings and then at that point so people start to move in to your village and then so the entire thing become valuable but before it was just potential value so which means that in this case so which is actual valuable part it's very hard to say because all of them together are valuable but if you're missing one of the key ingredient if you make the entire thing useless and then if this entire thing become useless like all the lab is going to be a casino it's going to be a digit casino that nobody want to be there and that's the problem that new be trying to solve and thank you for listening