Cardano ADA General

>Cardano's solution to 2nd layer scaling, Ouroboros Hydra
Hydra is an off-chain scalability architecture that addresses three key scalability challenges: high-transaction output, low latency, and minimal storage per node.

The recently released Hydra whitepaper proposes and outlines the introduction of multi-party state channels, which offers parallel transaction processing to dramatically improve Cardano’s transaction-per-second (TPS) output, and instant confirmation of transactions. Reflecting the implementation’s namesake, the paper refers to off-chain ledger siblings – state channels – as heads, which makes the ledger multi-headed.

Ouroboros Hydra enables Cardano to scale horizontally, increasing performance by incorporating additional nodes, rather than vertically, through the addition of more powerful hardware. Early simulations show that each head is able to perform up to 1,000 TPS. With 1,000 heads, this could be as high as 1,000,000 TPS. Once implemented, Ouroboros Hydra will allow Cardano to scale to unrivalled levels – to the level of, for example, global payment systems.

While Hydra is being designed in conjunction with the Ouroboros protocol and the Cardano ledger, it may also be employed over other systems, provided they share the necessary characteristics with Cardano.

Attached: cardano.jpg (2560x1440, 1.9M)

Other urls found in this thread:

youtube.com/watch?v=-CTNS2D-kbY
youtube.com/watch?v=LnX3B9oaKzw
thecardanoreport.com/2020/05/honeycomb-connects-api-data-to-cardano.html?m=1
ergoforum.org/t/oracle-pools-a-new-oracle-model/263
en.wikipedia.org/wiki/Dot-com_bubble
twitter.com/SFWRedditImages

>What is formal verification?
youtube.com/watch?v=-CTNS2D-kbY

>Why Haskell?
youtube.com/watch?v=LnX3B9oaKzw

>Emurgo working with Honeycomb to integrate Chainlink with Cardano
thecardanoreport.com/2020/05/honeycomb-connects-api-data-to-cardano.html?m=1

>Ergo and Emurgo collaboration to create stablecoins and Oracles on Cardano
ergoforum.org/t/oracle-pools-a-new-oracle-model/263

Theres no doubt in my mind that will flip ETH before the end of this year. This conversation is appearing literarily everywhere from Bitcointalk, Youtube, Twitter, biz and of course the website everyone loves to shit on...Leddit.

>Oracle pools on Cardano
Oracle Pools use the base cryptocurrency of the blockchain for funds/payments/stake. This means they do not require anyone to purchase of use an extra token like LINK which provides no value to either end users or the oracles themselves, but instead makes adoption needlessly more complex.

By design, oracle pools divide time into epochs where oracles must post within. This provides a framework for building a lot stronger incentives for ensuring datafeeds are updated on a schedule, making collusion less profitable, and thereby allowing for more trustworthy datafeeds.

Similarly, epochs provide a perfect way to implement disincentives, such as stake slashing (oracles joining a pool have to put up collateral to join). ChainLink aggregators do not have this at all currently (with only promises that it will be implemented), and their design makes it more challenging to encode them. Oracle pools are designed specifically to improve the assurance of oracle data, thus incentives and disincentives fit in perfectly. We have already started to write informal specifications (and contracts soon) making them a palpable reality rather than just an idea in someone’s head. (Also all stake is in the blockchain’s native currency, rather than a custom token like LINK)

Attached: 1411240143946.jpg (2000x1333, 603.66K)

An oracle’s job inside of a pool is to source and guarantee that external data is posted onto the blockchain in timely manner. This is a job that has actual value, and makes 3rd parties who aren’t the source of the data actual valuable participants. This is a consequence of the epoch design of oracle pools which doesn’t exist in ChainLink. Thus for datafeeds, ChainLink oracles are effectively useless middlemen that simply take a cut, which in Oracle Pools the oracles themselves are performing the equivalent of a timely delivery service.

Oracle pools have multiple approaches for incorporating governance (ChainLink has none). Furthermore oracle pool governance is very flexible and has a stronger impact than ChainLink’s passive reputation system. This means that oracle pools can use internal governance where individual oracles (who all have a game theoretic incentive to act well in order to earn money) vote on parameters/the list of oracles, or an external governance DAO which distributes the responsibility to a large number of DAO members can be used too. Due to the longevity of oracle pools, an external reputation system isn’t required, but instead direct action can be taken through the governance mechanism to immediately improve the quality of data and remove bad actors. This direct approach provides immediate effects which has a much greater impact for the end-user (furthermore a reputation system can still additionally be built on top if so desired, where if any oracle is kicked out of one pool their global reputation decreases).

Oracle pools provide greater sybil attack resistance and general assurance because the individual oracles part of the pool willingly co-ordinate and come together in order to launch their oracle pool. ChainLink’s more individualized approach to oracles tied with a bidding process is akin to hiring mercenaries/thugs who have no allegiances and are prone to mutiny at the drop of a dime if it benefits them (and in this case you can’t tell if the different groups of thugs you’ve hired aren’t actually conspiring together and/or the same person). Oracle pools in this point of view, can be viewed more as a cooperative of oracles who know each other and have aligned incentives together with a common goal. They are significantly more likely to perform their job as expected, but if they don’t, disincentives and governance are in place to ensure they are severely penalized and removed. This is a shift in core philosophy of how oracles are chosen with a focus on using market dynamics between competing oracle pools, rather than competing individual oracles. And with this, a lot more assurance is provided to the end users.

Thanks to extended UTXO, we can construct arbitrarily large oracle datapoint hierarchies of confidence easily which make it possible to have pools of pools (continuing to higher tiers as well) and thereby scale accuracy upwards at the cost of price/speed. This isn’t possible with ChainkLink’s design, because oracles are inherently sole actors, and there is no design for aggregating aggregators, and having that scale. Furthermore, the lack of the UTXO model prevents such hierarchies from working well at all. The accumulation of data upwards through the hierarchy and the dispersal of funds from the top downwards are both an order of magnitude more complex to perform (and likely more prone to bugs/errors), which translates to higher costs and making it an open question whether it is viable at all on an account-based model.

Furthermore, datapoints generated by an Oracle Pool (on a UTXO system with data-inputs) are accessible by anyone at next to no extra cost. This means that they can be used by any dApp on the blockchain easily, thereby making oracle pools much more like a public good. Thus even small “p2p” smart contracts between two individuals (say in Africa who can’t afford paying for oracle data explicitly) can still have access to vital oracle datafeeds. This is something extremely novel, and quite exciting in my book.

It is trivial for a dApp to use datapoints from multiple oracle pools in a single tx. Allows for more complex DeFi dApps to come about while still being reasonably priced.

Because oracle pool datapoints can be used by anyone on the chain after they are produced, that means everyone on the blockchain has an incentive to submit funds to said oracle pool to keep the datafeed going. Thanks to the UTXO model, this can be very done very easily in a passive manner where dApps require users to create an extra output UTXO in their tx which goes to an oracle pool and contains a very small amount of funds (ex. $0.05 equivalent). These tiny amounts are barely felt by the users, yet they accumulate quickly and provide a steady stream of funds for the oracle pool to ensure it continues to run smoothly. Thus oracle pools provide us with a whole new experience, where users passively fund oracle pools and thereby produce datafeeds that essentially become a public good.

Because oracle pools have longevity and are easy to fund, the blockchain ecosystem can focus on building key permanent oracle pools with incentives/disincentives in place, together with baked-in governance for parameters + entry into the oracle pool (which aids in ensuring sybil attack resistance by actors involved). Thus we can create trustworthy oracle datafeeds that anyone on the blockchain can use. This is a vastly different vision than what ChainLink is attempting to build, and in my opinion much more exciting. Our approach is more targeted/opinionated, and together with the extended UTXO model, provides a number of benefits that are completely novel.

IT HAS DUMPED
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

Attached: nooeoe.png (860x855, 208.36K)

It's up 2% on the hour...
You really think people are gonna look at your post and panic sell without checking the price first?

I LARP'd
it's good hodl

>Voltaire - governance and voting
The Voltaire era of Cardano will provide the final pieces required for the Cardano network to become a self-sustaining system. With the introduction of a voting and treasury system, network participants will be able to use their stake and voting rights to influence the future development of the network.

For the Cardano network to become truly decentralized, it will require not only the distributed infrastructure introduced during the Shelley era but also the capacity to be maintained and improved over time in a decentralized way. To that end, the Voltaire era will add the ability for network participants to present Cardano improvement proposals that can be voted on by stakeholders, leveraging the already existing staking and delegation process.

To fund the future development of the network, Voltaire will also see the addition of a treasury system, whereby a fraction of all transaction fees will be pooled to provide funds for development activities undertaken following the voting process.

When both a voting and treasury system are in place, Cardano will be truly decentralized and no longer under IOHK's management. Instead, Cardano’s future will be in the hands of the community, who will have everything they need to grow and evolve Cardano from the secure, decentralized basis established by IOHK.

The implementation of this starts this month.

Attached: universe_stars_planets_nebulae_debris_62627_2560x1440.jpg (2560x1440, 1.08M)

These whitepapers should be renamed to Charles’ collection of fairy tales. They don’t even have smart contracts yet. This is all speculation.

Newfags that bought the top of this scam regurgitating charles’ bullshit hype.. you starting to get it now?

>desperation blog posting

Attached: 9F0BD586-26CA-46B8-BC0A-0AB9D0FFCEB7.jpg (361x362, 44.01K)

it's good info OP but i think we need to condense it big time. nobody is going to read it

fundamentals dont matter when nobody is using blockchain tech, like literally, not a single use. The fact that fucking doge coin mooned because of a tiktok meme is just another nail to the coffin. Cryptocurrency is just a retarded cash game. I mean xrp is still number 4, kek. A literal jewish scam project

Not this flat eather faggot again.

Attached: aBoa4gax_700w_0.jpg (700x612, 45.04K)

Still early days. It's like 1990 internet.
>The fact that fucking doge coin mooned because of a tiktok meme
en.wikipedia.org/wiki/Dot-com_bubble

IOHK will train more Haskell devs in Mongolia. This is to encourage them to fix problems in their own country with Haskell, Plutus and Blockchain (Cardano). The get the option to be hired by IOHK.

Attached: EcdGzU6XQAACzXi.jpg (1080x1080, 116.98K)

> gay gimmicky code names
> gay guru at the head
> buying ada means you directly finance hogkingsdon's hoes, expensive cigars and travels around the world
imagine being a cardacuck, lol

I love how people act like scalability and high TPS is a new milestone. Apollos Hermes blockchain is the most scalable, fully sharding at set blockheights that literally slices the chains data to fractions, and TPS over 100,000, making their way to over 1,000,000. While they may see sketchy, there isn't anything on their roadmap they haven't delivered on, and those are just facts.

THIS. FUCKING THIS. Apollo has the most advanced tech, full database sharding implemented, hight TPS and instant transactions, but as of right now, no one fucking uses it. They claim to be fueling the technology behind a new country forming in Africa (United Allied States) but im VERY skeptical about it and am keeping my bag on the ready incase I have to dump. A new country no1 has heard about is a huge red flag

>Early simulations show that each head is able to perform up to 1,000 TPS. With 1,000 heads, this could be as high as 1,000,000 TPS
show me a testnet under load which proofs those numbers or gtfo.

if you only knew how coomfy holding APL Apollo really is!

Attached: SMILE.jpg (141x115, 4.28K)

I was comfy for the longest time but the recent claims have me skeptical. I LOADED up when it his .0004

topkek show dem nerds fellow linkmarine lol

120AKA here. Sitting quite comfy. Hoping to double the stack before ADA hits $1. ADA is the future of blockchain tech.

>10 posts
Fuck off Hoskinson we don’t want your shitty coin

Attached: 48D3E75E-B81F-409F-9D5A-9A70767EA9FD.jpg (588x608, 104.63K)

Oh no it's this faggot again who keeps posting in every ADA general trying to force a word meme.

The only one who's gonna be getting cucked is yourself when you are going to fomo in at $5

>Early simulations
Hydra is post current roadmap. Probably 2021 Q3+