I want to give you my 2 lovelaces. Please mind there is a lot of disinformation on Zig Forums and a lot of the FUD comes from people with incentives to steer opinions of ADA away from it. Don't ever let anyone tell you the project is a vaporware, a scam, just a wallet or that ADA will lose because it has no first mover advantage.
Cardano anti-FUD
Robert Rivera
Other urls found in this thread:
iohk.io
en.wikipedia.org
youtube.com
en.wikipedia.org
forum.cardano.org
youtube.com
atalaprism.io
cardano.org
docs.cardano.org
alpha.marlowe.iohkdev.io
roadmap.cardano.org
ubivent.com
youtube.com
fxstreet.com
youtube.com
youtube.com
ey.com
youtu.be
twitter.com
Nathaniel Watson
>Design
The background of the Cardano project started with their own scientific, peer reviewed research. This has resulted in 60+ original research papers which define algorithms to operate exactly as they are intended and do it in a safe and secure manner. More can be found here: iohk.io
The design of the whole ecosystem was fully formally specified at first en.wikipedia.org
youtube.com
Haskell is a functional programming language, which makes it more rigorous and less prone for hacking. As a functional programming language it *encourages* safer code due to the interaction between it's type system combined with the perks of it being a functional programming language.
These kind of languages are normally used in systems which cannot fail (nuclear powerplant, airospace engineering, financial operators on Wall St. etc.). Apart from exactly doing what programmers want it to do, it's extremely light and concise. The current node consists of just 30,000 lines of code, which would compare to 2 million lines of C+. See it more as one giant equation, than a "language" interpreted by a computer and hence prone for hacking.
But: in the end the programmers make the code safety of course. This makes Haskell a two edged sword, as the code encourages safety and the type of programmers writing the Haskell code are generally people from the aforementioned industries and more than often have a MSc/PhD in computer science.
Jonathan Nguyen
IOG (iohk.io) uses a very thoughtful and high standard methodology driven by academic rigor that is unique to this industry to build Cardano which will very likely give the best results in the industry. They used a first principles approach and broke down the complicated problem (what a 3rd gen cryptocurrency/blockchain would be) into basic elements and then reassembled them and build from the ground up while learning from mostly Bitcoin and Ethereum and improving on them. They did all the research to solve certain problems (like making PoS as secure as Bitcoin) and wrote academic papers that went through academic peer review. And then they used formal methods (en.wikipedia.org
Jacob Young
Cardano fudders are all unironically sub 60 IQ brainlets that think the Earth is flat.
Just remember everytime you are talking with a Cardano fudder you are also talking to a flat earther.
Colton Turner
as long as pump i am happy, pump no dump. big green dildos, i love big green dildos.
cardano and litecoin will work together.
Sebastian Campbell
>Shelley - Staking
Then the PoS protocol: Ouroboros. This is provably just as secure as bitcoin, whilst consuming just 10 kW/h of power, instead of the whole consumption of Switzerland/Ecuador. Please mind this consumption of BTC will only increase with increased network load, and hence is not sustainable. But that is subject matter for another discussion. For users PoS brings a lot of benefits, as they earn between 6-10% profit (paid in ADA, so any future price rises are on top). Ouroboros supports about 1000 TPS. In the future, network capacity will be increased using a layer 2 solution, just like the lightning network: Hydra. In theory each stake pool (node) could operate it's Hydra head and you could have 1000 stake pools, making a theoretical 1,000,000 TPS. The use of a layer 2 solution has advantages over sharding (as proposed by ETH 2.0), because it is currently unclear to what extend sharding provides Byzantine resistance.
All rewards are paid by the algorithm, without pool operator interference. You also don't need to lock anything, and are free to spend any delegated ADA. You will only not receive any rewards on the spent ADA. Staking starts July 29 and has no minimal ADA requirement (0.8 for delegation fees).
Dominic Rogers
nice blog faggot
Charles Stewart
can we get this post peer reviewed by academics please
Isaiah Moore
>Goguen - Smart contracts & native assets
After full decentralisation with Shelley, Goguen is next. Goguen is characterized by the use of Plutus. Plutus is a Haskell based smart contract language designed specifically for Cardano. ETH requires to design a token in Solidity, and deploy it using Javascript. This is overly complicated and creates a lot of potential liabilities (as demonstrated by the enormous amount of hacks/exploits). Everything is done using Plutus on Cardano, which makes rigorous and light smart contracts. One can also use Marlowe, a Cardano specific smart contract platform.
Native assets (such as ERC20) are also designed differently. Ethereum uses it's own network to pay for network fees of ERC20 tokens. The revolution proposed by Cardano is to pay the fees using the native asset. This is a lot less complicated, and prevents token designers to think about tokenomics. Please note: by staking ADA, one would also receive these native assets as rewards! By using the contracts and tokens, the value of the ADA increases. Not only by sheer Tx-fees, but also the value of the platform itself.
Input Output Global and Waves have pledged 20 million USD to bring developers into the system. Proposals, though, need to be voted on by the community.
Native assets will be launched within 120 days, and smart contracts within 150 days. Please see this post for the more elaborate planning: forum.cardano.org
Gavin Cooper
>Voltaire - On chain governance
For a system to be fully decentralised, decision making by the community needs to be enabled. Voltaire enable ADA holders to cast their votes proportionally to the amount they are holding. The voting testnet is going live in July. After that people will be able to submit ballots with Cardano Improvements Proposals (CIP). The community will then vote on CIPs and decide for the project where to go next.
>ADA and DEFI in Africa
ADA mainly focusses on bringing the 1 billion unbanked into the financial systems. About 80% of Africa is under 30 years of age. Apart from the huge economic potential, these youngsters are acquainted with electronic systems and will easily convert to mobile based blockchain.
This 7 min youtube video explains the application of DEFI in Africa and its huge potential really well. youtube.com
By providing a digital identity on a government based level will enable the people to access financial products. Imagine being an Ethiopian coffee farmer in need of fertilizer. I think Charles mentioned is a 20% fee on these micro loans, and 95% payback ratio. Imagine bundling these into tranches, and selling them to Goldman Sachs etc. Everything is then settled by the ledger. You reckon Goldman would like these products?
You can visit this website if you want a demo of Atala Prism, the ID provider: atalaprism.io