WhileDAI is a stablecointhat tracks the value of the USD, Maker has a variablevalue. It was created to supportDAI in a number of ways.
First the MKRtoken enables governance of the wholesystem, giving its holders voting rights on proposals.
Second, while CDPs are expected to remainover collateralize, ifmistakes or unforeseen events occur that cause a CDPto fail, new MKR tokens will be created covering thelosses so that holders of DAI canhave confidence in the value of theirtoken.
Smart contracts are poised torevolutionize manyindustries by replacing the need for both traditional legalagreements and centrally automated digitalagreements.
But smart contractscan't access real world data such asdata feeds, APIs or bankingsystems due to blockchain's consensus technologies.
The way this problem istraditionally solved is through the use of blockchainmiddleware called an oracle.
Oracle's are defined as an agent that finds andverifies real world data andsubmits this information to a blockchain to be used insmart contracts.
But existingOracles are centralizedservices. Any smart contract using such a servicehas a single point offailure, making it no more secure than a traditionalcentrally run digital agreement.
Manycentralized oracles rely on [inaudible]or manual human input,slowing down the process and bringing in biglevels of trust.
Chainlink is a secure, cutting edge oracle middlewarenetwork that is fully decentralizedby being based on blockchain technology.
It allows smart contracts to accesskey offchain resources like datafeeds, APIs, traditional bank accountpayments, e-signatures, market data, weatherdata, sports scores, commodities trading, healthclaim data and anything else you canconceive of by chainlinkingmultiple data inputs to help eliminate any one point offailure.
The Chainlinknetwork provides reliable tamper proof inputs andoutputs for smart contracts on any blockchain.
By providing smartcontracts secure access to key data resources, Chainlinkallows other parties and actors to mimicreal world agreements that require externalproof of performance and various paymentmethods.
Really without Chainlink,smart contract platforms can't expand toofar beyond tokenization and theoccasional enclosed game.
Chainlink is thefirst technology that will be able to connect enterpriseblockchains, real world data and legacybankingsolving the oracle problem.
It can all be assimple or as complex as thesmart contract creator wishes.
Chainlink can help somany industries. For examplesecurities needing market data. Or insurancecompanies and supply chain companies that both needevidence of events and timestamps.
Remember high value contractsin the finance world would require a decentralizedoracle as it puts all the risk on the oraclerather than the smart contract creator.
The smart contractcreator doesn't risk losing money. The nodeoperators do.
These high valuecontracts don't like single points offailure.
Decentralization will give them confidence andefficiency.
The Chainlinkecosystem works on collateraland compensation using the LINKtoken.
This token doesn't represent equity in or anyownership of the company. Itrepresents a certain amount of usage of the Chainlinknetwork.
Node operators deliver thedata, APIproviders supply the data and smart contractowners need the data.
Soactors run a Chainlink node to stakeLINK as node operators. Two, smartcontract creators compensate nodeoperators in LINK.Three, API providers are compensated bynode operators based on the custom agreement and filters.
But if the API ispublic, no compensation here will beneeded.
30% of the LINKtoken supply has been held back to fund futher upgrades anddevelopment. 35% of the LINK token supplywill be going to node operators to helpkickstart the ecosystem.
Inthe future, if smart contracts usingChainlink take over just a few percent of the derivativesmarket or the API market, this cryptoasset will be a massive disruptor.
Chainlink has many outstanding partnerships andhas worked closely with SWIFTin development who have access to banking APIsand provide a messaging standard for more than 11,000 banksworldwide.
Zeplin OS is anoperating system for smartcontract applications.
Factom is a system for securing millions of[inaudible] records usingblockchain.
Accord and OpenLaware related to legal agreements with smartlegal contracts. And each themselves have big partnerships.
Chainlink is a professionalproject without the usual crypto hype andnoise. And there is a hive of activity on theirGithub.
It is rumored that mainnet iscoming soon and in the current testnetmany Chainlinks are live connecting with flight statusinformation, package deliverydata from Fedex, UPS, DHL.And market data from different crypto priceoracles.
The CEO has been doing moretalks recently too. And their communication has been slowlyramping up.
Chainlink is one of thevery few crypto assets that can really helprevolutionize and streamline so manyindustries.
ICOs haveraised more than $4 Billion worth of early stagecapital, massively disrupting traditionalfinance. But while token fundraising is a boomingtrend, the global securities market has yet to participate.
Stocks, bonds,venture capital, private equity and virtuallyevery category of traditional finance function better on the blockchain.
Equity, LP shares and share unitswill become programmable tokens that are moreaccessible, liquid and secure than traditional forms ofasset ownership.
But no platform existstoday that bridges the cap between financial securitiesand the blockchain.
Today business lookingto join the crypto-revolution by launching their owntoken have nowhere to go.
Polymath envisions afuture where tokenholders replace shareholdersin the global economy and every business in theworld has immediate access to trillions of dollars ofcrypto-capital.
Powered by its nativetoken Poly, Polymath is ushering in a newera of security token offerings or STOs.
STOs will soon dominate ICOsas financial products of all sorts upgrade to tokens.
To facilitate thismega trend, Polymath is building the world'sfirst decentralized protocol that empowers corporationsto launch their own security token by simplifyingthe technical and legal challenges of a compliant tokenlaunch.
With KYC aware token technology,Polymath ensure only authorizedinvestors can participate in thenetwork.
By powering the next generation of regulatorytokens, Polymath aims to be the catalyst to launchthe multi trillion dollar security token revolution.
Bob is adesigner. Today he's building a website forAlice. When it's done he sendsAlice the invoice but there is just oneproblem. Alice isn't happy. It's not howshe wanted the site to look and now Alice won't pay which makesBob unhappy. So now everyone is unhappy.
It didn't have to be this way. If Bob and Alice hadjust used Kleros this could all have been settled.Kleros is a blockchain dispute resolution layerthat provides fast, secure and affordable arbitrationfor virtually everything.
At the start of theproject Alice's funds are locked into a smartcontract. If Alice is happy with the job, Bob receives payment.If there is a dispute, Klerosuses crowdsourced jurors to consider the evidence and settle thedispute.
Jurors analyze the evidence andconsider both sides of the story. On this occasion they sidewith Alice and vote her to be thewinner. Their decision is automatically enforced and thearbitration fees are collected. All performed on theblockchain.
Freelancing, crowdfunding,curated lists, gaming, e-commerce,insurance, oracles, escrow, the possibilities areendless.
Life isn't always fair butKleros is.
Kleros thedispute resolution layer for virtuallyeverything.
Hey guys, I'm Antonio fromdYdX. A decentralized exchange for derivatives and shorts.
So at dYdX we arebuilding an open protocol that allows short sellingand options on any ethereum basedtoken.
The protocol is totally open and free to useand allows the instruments to be taken in a peer to peer andtrustless way.
In addition we are buildinga relayer which is sort of a centralized websitewhere people can go to actually trade the shorts and options on the baseprotocol.
Finally we don't have our own token butyou can use dYdX to short everyone else'stoken.
Sonext we are going to go througha demo of how dYdX actually works.
As you can seeit kind of looks like a centralized exchangethat allows market, limit orders, short sells and loans for the shorts.
We are going to go through how a short actually works.
Asyou can see it's super simple, all you have to do is plug in how much youwant to short, click OK, approve it in your wallet and that's it,you are short some token now.
So then your position can be open as long as you want.And later you can come back and close your position and you'llmake money if the price went down or you'll lose money if the price wentup.
Here we are going to close theposition, approve it in our wallet and then wait for thetransaction to be mined and our position will be closed and we'llhave made whatever profit we made on the trade.
Next we are going to take a quick look at the transactions on the blockchain.This is the transaction for opening ashort sell. How it works is the tokens are taken from thelender and sold immediately to the buyerand then some margin deposit is taken from you theshort seller.
And this is thetransaction for closing a short. Basically the tokens thatwere lent by the lender are always given back to the lender plus someinterest fee.
Andthen the short seller makes the profit minus the interestfee.
Where we are at right now iswe started in August and we've released thewhitepaper and also have that private betawhich is what you just saw live on the testnet.
Next steps are to go through security audits which will hopefully bedone by March and then we are targeting anApril launch for the short sells plus spot trading.
Then we are going to add in optionslater and hopefully that will be around July.
So that was just a really clear work through ofhow dYdX works andas you can see it's live on the testnet now in a private betaand we'll probably open it up at some point in the future.
Thanks fortaking a look. I'll be around the rest of the time ifyou want to come talk to me.
Email is Antonio@dydx.exchangeand we are hiring. Reach out to me if you are interested.
Let me share with you a quick overview of Kyber Network.
Kyber is working towards a futurewhere any token is usable anytime,anywhere.
Today there are already1000s of different tokens and protocols.And we expect this number to explode over the nextfew years.
The innovation is obviously amazing.However there is one major problem that we need toaddress. The vast majority of thesetokens are used [inaudible] or for their ownspecific use cases leading to afragmented ecosystem where the usabilityof both tokens and applications are extremely limited.
What Kyber is doing is becomingthe bridge between the whole universe oftokens and applications and allowing thetokens to [inaudible] anywhere.
Forexample, for gold token holders, they should be ableto use the tokens to buy a t-shirt,to play video games or event invest in hedge funds. And of courseit's not just about gold tokens butany kind of tokens that one might hold.
Let meexplain a little bit on how thingswork. At the heart of Kyber, there is a decentralizedliquidity network which enablesanyone to openly contribute liquidityby being a reserve. And at the same time, anyapplications can freely integrate and have accessto the liquidity pool.
Tokens supportedby the network will become instantly usableacross all the integrated applications.
I know it sounds a little bit [inaudible], so let megive you a few examples.
Say you have a lot ofOMG tokens and you want touse them but your favorite t-shirt store only wants to acceptstablecoins. So once the storeintegrates with Kyber, youcan purchase a t-shirt using OMG or any token of yourchoice. [inaudible] willreceive the payment in their preferredtoken, be it DAI, ETHor TrueUSD.
This is possible because Kyber'sliquidity network supports instanttoken to token transactions.
Similarlyfor any decentralized financial applicationsincluding [inaudible] indexfund that have integrated with Kyber, you would then be able tocontribute to the fund in different tokens that areavailable on Kyber.
Inthe same [inaudible] the fund can instantlyrebalance its portfolio into its desired mix of tokens.
Everything is done on the smart contract and fullyon chain leading to a fully secure,transparent and verifiable financialsystem.
As you can see from these two simpleexamples, what Kyber focuses on isremoving as much frictionas possible for the uses of any kind oftokens across any kind of use case.
We doso by enabling three things. First of all makingit easy for any applications tointegrate with Kyber. Secondly,removing risk and uncertainty from every singletransaction. And lastly by making the wholeprocess transparent and secure.
We believe that theremoval of these barriers is critical for mainstreamadoption for decentralized applications.
We do not see a future in whichyou have to hold and buy 50 differenttokens to use 50 differentdApps. Token holders should be able to use any tokensthey have to access all the use casesavailable.
On the flip side, decentralizedapplications should dramaticallyexpand their user base by integratingwith Kyber and accepting any kind oftokens.
Let me end with some thoughts on howwe view the blockchain space today.
Firstoff we believe liquidity is not just abouttrading but liquidityreally boils down to usabilityor how [inaudible] tokens can be used across many differentapplications and use caseswith as little friction as possible.
When that isachieved, the entire decentralized ecosystem will beable to work much better together to realize its fullpotential.
Secondly,we believe that the first phase of the tokenizedworld really arrived when bitcoin created its own token as weknow it. Following ethereumisolated the evolution bymaking it easy for developers andasset holders to create the token withoutdeploying theirwhole new chain
Wherewe are now is a world that has an exploding number of tokens,[inaudible] as aresult, the next phase has to beone where tokens [inaudible]become usable and accepted in as many ways aspossible.
This is the future thatKyber is going towards. One where the decentralizedecosystem operates togetherseamlessly and where any tokensare usable any time,anywhere.[music]
It'sjust a matter oftime. This is a processor,it executes small tasks at breakneckspeeds from your computer, your phone and your smartwatch. You don't need to know how it works, you only care that it isfast.
Golen is fast.
And here is you, needing to simulatea neural network but your little computerjust isn't up the task. But if you connected toGolem, you could simulate neural networks, sequenceDNA, render complex imagery or whatever you needto do in a fraction of the time.
Let me show you how itworks.
Golem is a distributedsuper computer. It taps into a global network of unused computingpower and it's decentralized. This means that no one owns itand anyone can use it, even you.
When someone has ajob for Golem, it automatically finds the best computersavailable for the job and pays them for the power that theyprovide.
One of them can be your computer, that could beyour money.
Whether it's training artificial intelligence orrendering physical models, Golemscales with the task. And it's all made possiblethanks to the Ethereum blockchain.
What'smore, developers can tap into this network bybuilding apps on its platform, creating infinitepossibilities.
So get ready, Golem is thefuture of computing. It's just a matter of time.[silence]
What if I told you there was a new digitalcoin that married the best aspects of currentcryptocoins with the safety and stability of gold,the oldest continuous store of value known to humanity.
Cryptocoins in their current form have two majordrawbacks. One, volatility.You simply cannot reliably transact with a cointhat has more short-term price volatility than competingtraditional options.
Centralization. If youhave a single point of failure such as a bigdepot where a large amount of coins are stored, criminalswill find a way to exploit that weakness, hack through thesecurity and steal the coins.
But what if you could eliminate thatprice volatility by tying a digital cointo an asset that has real, stable andhistorical value like gold.
What if that gold digitalcoin was traded person to person without any centralizedintermediary like a bank or other institution inthe way.
You would have created arevolution in digital coins.
This isexactly what Digix has done.
Digix hastaken all of the innovative realitiesin a current digital coin, the blockchain, transactionalprivacy, minimal transfer fees and backedit up with the world's oldest and longest standingstore of value, gold.
With the Digixtokens, you own actual physical gold stored in avault in Singapore, one of the world's safestand most private locations in the world.
You can redeemyour Digix tokens for physical gold any time youwish. Or you can trade your digital gold backedDigix tokens on the Ethereum blockchainfor goods, services or other digital assets.
And because Digix tokens are transactedperson to person, there is no centralized depot forcriminals or hackers to exploit.
So if you have afamily member that you want to send money to, Digix tokens give you away to send value to them that can go acrossthe world without any bank or other intermediarygetting in the way.
Or if you have a business online or you arean artist selling your art work, with Digixtokens you can accept payment from anyone, anywhere inthe world without the hassle of dealing with banks or paying their bloatedfees.
Digix tokens are the next evolutionof digital coins, marrying the best of thenew way of sending value person to person,anywhere in the world, instantly without any intermediary.
And with the stability and peace of mindof the world's oldest currency,gold.
I'mRichard Ma, CEO and co-founder of Quantstamp. The reason whyQuantstamp exists is because smart contracts are vulnerableto hacks and we make sure that they aresafe for everyone to use.
In January of2017, there were only around 10,000 smartcontracts. Today there are more than 8 millionsmart contracts and it's no longer possiblefor manual human experts to check all of these contractsindividually.
Quanstamp is really bringingautomation to the securityauditing industry so that eventually when there are billions ofsmart contracts, we can still make sure they are all safe.
Here at Quantstamp we are on a mission tohelp as many companies as we can to exploreblockchain in a secureway, so they can thrive ten years fromnow.
To this day Quantstamp has securedover $500M worth of smart contracts.
Richard Ma, CEO and software developer at Quantstamp.
Introducing0xFutures, the first peer to peer platformto trade future contracts running on the blockchain.
Meet Paul. Paul is a developer who gets paid inbitcoin. Paul loves his bitcoin but he hatesto see the price go up and down especially whenit goes down. He would love to have a way to stabilizehis bitcoin holding and to keep the same value overtime.
Meet Lucy. Lucy is amega crypto enthusiast and really thinks that this thing isgoing to the moon. So she would liketo put her crypto to work to take aleveraged position.
If the pricemoves, she will make even more money.
Enter0xFutures which is a fullydecentralized trading platform where Paul and Lucycan create a smart contract that will track theprice of any asset. Bitcoin,ethereum, gold or anything elsereally.
In their case it will be bitcoin.
With 0xFutures, every future contract is asmart contract running on the ethereum blockchain between the twoparticipants. This means that the funds arenot held by a 3rd party but bythe smart contract itself.
This makes 0xFuturesdecentralized, peer to peer andtrustless.
Here is how it works.
Let's say thatPaul wants to create a contractthat tracks the price of bitcoin. He can either be long if hethinks that the price is goingup or be short if he thinks the price is going to go down.
Sincehe wants to stabilize his bitcoin holdings,he will be on the short side. He then sets the contractamount, that's the money that is inplay.
0xFutures uses the DAI ascollateral. The DAI is a stable token that doesn'tfluxuate over time. One DAI isworth $1.
Let's say he sets the contractamount to be 100 DAI which is the equivelentof $100.
So Paul creates asmart contract using 0xFutures that will beliving on the ethereum blockchain.
Now Lucywants to join this contract and takePaul's opposite position by goingon the long side.
If the price ofbitcoin goes up by let's say30%, then Lucy who is long will be up by 30%.
If in the contrary the price of bitcoin goesdown by X%, then it'sPaul who will see his share increase by the sameamount.
At some point Paul may want to take his profit or lossand release his DAI's from the contract.He can do so by selling his side of the contract to anotheruser who will replace him.
Once the contract hasbeen rolled, Paul receives his fundsheld in the contract directly to his wallet.
With0xFutures, every trade is its own smartcontract on the ethereum blockchainbetween two people.
There is no custodian,no centralized system and no counterpartyrisk.
On this video we are going to be talking aboutCompound.Finance
Compound.Finance is a borrowing platform allowing you tolend and borrow cryptocurrenciesin a fully decentralized manner.
The platform allows you toborrow regular cryptocurrencies like BATand stablecoins such as DAI which are pegged to theUSD.
We'll be taking a look at their current platform withMike and also possiblydoingsomeborrowingof our own.
Let's go take a look at Compound.Financewith Mike.
So nowwe are going to talk about Compound.Finance
This is a lending platform.It's a lending and borrowing platform that has its own decentralizedprotocol for holding onto assetsand letting people borrow.
As you see it's a dApp,so you connect with Metamask. Thisis the app and usually when you signin... This message isn't up here...
Sotheyhad an issue where there was a vulnerabilityfound by a communitymember. They are swappingout some of the contracts and lookingat auditing some of the relationships that happen between the frontendand backend.
Have youearned interest on the money?
So we lent $23originally.And on a variable 9.5%APR we havemade 5 cents.
When did you do this?
Acouple weeks ago.
So you can earn money over time lending outETH or DAI in this case for you to other people.DAI is basically just dollars. You lend it out and youearn interest. 8% a year.
But you said before itwas more.
Before it wasaround 15%.It changes, it goes upand down.
Based on what?
It's based off of the collaterlizationthat's being supplied as well asthe price of the underlying asset.
Itreminds me of MakerDAO.
Ithas a lot of commonpieces.
The interest is supersimple. Easy to use as well. I wish theborrowing activity wasn't pausedso you could look. But you can go in andcheck out the data.
Either send in to one of the collateralizersor borrow.
I think it's really fascinatingbecause withtraditional assets, you put your house up ascollateral. But they have to do a lot of research around who has liens on thathouseetc. And you can basicallycome in and take[inaudible] somethinglike security tokens.
Collateralizeit. It's immediately authenticated through the blockchain like it isnow.
Now Itake out money, Iborrow a certain amount and if I don't pay itback in enough time or something happens to the value ofmy house,then I get liquidated etc.
That's how CDPs work. I think the more platforms that come outlike this is really fascinating. Themore we can get real world assets on the blockchain that areverified, the cooler platforms like this can become.
Andthe rules won't change.It's not like somebody in some part of the basketdown the line changed how their particularfinancing is working and it has this huge affect that changes what you areborrowing and one day you go to consolidate your loansand everything is messed up because somebody insome basket messed something up.
Becauseit is blockchain, because it is a smart contract, thelogic governing it stays the same. The rules don'tchange.
Weare very much at an incubationstage. As we see here, the borrowingis down now and there is a bit of chaos here becausethere was a vulnerabilityin the smartcontract.
That can happen aswe are at the very early stages.I think when it matures it'll bereally awesome.
What isthe risk modeling? Instead of[inaudible] nowwe are dealing with technology hazards.
What happens if thecore protocol has an issue? Whotakes care of making peoplewhole?
As the world transitions from the physical tothe digital, having a secure and simple way to manage your identityis more important than ever.
That'swhy Civic created the secure identity platform.It's a bit like a digital wallet that bridgesyour physical and cybercredentials.
To see how it works, let's meet Janice. Janice isgoing on a trip and she needs to identify herselfseveral times along the way starting with the purchase of a plane ticket.
Janice's travel booking service is a Civicbusiness partner, so they simply send Janice a QRcode to request her information.
Janiceprovides the requested information directly from hermobile device and that information is stored fullyencrypted.
Now Janice can use that same device toverify her identity at the airport check-incounter, at the security check and when she getsto her hotel using her finger print each time to prove that she's theowner of that data. No username orpassword required.
This voluntary exchange ofdata happens directly between Janice and any organizationthat requests her information like a hotel ora bank.
When there is a request for additionaldata, it gets added to her Civicapp. And she builds up trust in her digitalidentity.
Each organization receivingher data independently validates her identity onthe blockchain.
That means Janice's information istrusted and she can have the low frictionexperiencethat shedeserves.[music]
Bisq is adecentralized bitcoin exchange. It's an open source,peer to peer system that allows anyone to buy andsell bitcoin in exchange for national currencieslike dollars, euros or yen.
In manyways Bisq is like bitcoin itself.Bitcoin is decentralized money,a system designed to allow parties to transact directly. Eliminatingthe need for monetary middlemen.
Bisq is built on the same philosophy,bringing the principles of decentralizationto the process of buying and selling bitcoin.
While there are plentyof bitcoin exchanges out there today, almost all ofthem are centralized. And that means there is a 3rdparty, a middleman.
The companies that runcentralized exchanges provide a valuable serviceand naturally they charge a fee for that. But reducing oreliminating fees isn't the onlyconcern.
Removing middlemen is also about ensuring privacyof the data and the security of your funds.
Bitcoin has proven payment transactions withouttrusted 3rd parties are possible.
Bisqbuilds on bitcoin to remove 3rd partiesfrom exchange transactions aswell.
With Bisq there is nothing and no one between buyers andsellers and software.
Of coursebuilding this kind of system and making sure it is secure isn'teasy. But we've designed a sophisticatedsolution.
You can read all about it in our whitepaperand other docs at Bisq.io
We'veproven this concept with working software. Andby the way, when we say that Bisq is decentralized,we aren't just talking about the code and the peer to peernetwork, every aspect of the Bisq effort is decentralized including how the code iswritten and how the project is managed.
We aren't a start-up or a company,we are a small and passionate group of people spread out around theworld. We are building Bisq because we think that aproperly decentralized bitcoin exchange network needsto exist.
If you do too then wecould use your help.
To learn morevisit us at bisq.io where you can find our roadmap andread our whitepaper,get in touch with us and of course download and try out Bisqitself.
If you're watching this, you are amongthe 2% of people that understand that the future of tradingassets is going to look very different from how it looks now.
Takereal estate for example. Big chunky illiquidinvestments dominated by a select fewwith a tremendous amount of money being redirected to middlemen.
That's going to change.
MeetBlockimmo, a blockchain powered real estate platform.Our platform enables investments in properties, fundraising for developmentprojects and traditional private propertyexchanges.
For all three we cut out middlemen,resulting in an efficient and decentralized system so that thevalue stays between the key parties involved.
You are probably thinking blockchain is crypto, right? It's all justspeculation and talk of innovation without any realexecution.
Wrong. That's where wecome in.
Blockchain will change every area in ourlives. We are coding the future. We are leveraging thetechnology. We are investing in our skill setevery day with simplified and streamlined real estate.With a system of smart contracts on the ethereum blockchain,the foundation of our software stack.
Thisenables a simple, robust platform.
Security is a top priority. We've architected andimplemented each layer in our stack with ourusers safety in mind. We've battle testing our software with aseries of external audits and an on-goingbug bounty.
We stay curious. Wetrain our brain every day and hire only a selectfew. The ones with the right fundamental rightset.
Even so, we are able to grow exponentiallythrough smartly executingtechnology.
Our aim is to bridge the technology gap between blockchain andthe user and our strategy issimple.
Constantly iterate and ship.
By improving andsimplifying the user experience on adaily basis, we bridge the tech gap and deliver truevalue to our users.
Within the blockchainecosystem, it's time to get shit done and that's exactly what we'vebeen doing.
We will keep building and improving the awesomeness of thetechnology. But it's going to be productfirst.
So this is really happening? Yes.Do you think you'll adopt when the time comes?
Thinkagain. The time has come and you can be part ofit today.
Join us as a team member, as a client,as an investor or as a partner.
Blockimmo,join the real estate platform ofthe future today.