Discover and read the best of Twitter Threads about #Cardano

Most recents (24)

What is Proof of stake and what are the benefits of the implementation of the Cardano implementation? Here a short thread :

#Cardano #CardanoCommunity $ADA
The Cardano blockchain is the first third-generation blockchain to implement a proof of stake (PoS) consensus algorithm. PoS is a consensus mechanism used to validate transactions on a blockchain. #Cardano #ProofOfStake
PoS is an alternative to the more commonly used proof of work (PoW) consensus algorithm used by Bitcoin. Unlike PoW, PoS does not require large amounts of energy to run, and it is much more efficient and secure. #Cardano #ProofOfStake
Read 8 tweets
A short thread about why decentralisation is such an important topic in the blockchain world and why you should remove all your $ADA from the exchanges.

#Cardano $ADA
1. Decentralisation is key to the success of #blockchain, as it enables users to be their own bank. By removing the need for a third-party, users can transact with each other securely and without fear of censorship or interference.
2. Decentralisation also means that no single entity has control over the blockchain. This means that no one can make decisions on behalf of the network, resulting in a more secure and reliable system.
Read 6 tweets
#Ethereum Community often calls themselves #Decentralization maxis

But if we look at the real metrics

#Cardano is far ahead than #Ethereum on #Decentralization

Here are the reasons why #Cardano is the most decentralized PoS-based blockchain out there馃У馃憞
#Decentralisation is the core ethos that gives meaning to the public #Blockchain space

Because it eliminates the need for trusted parties

#Bitcoin initiated this movement in the backdrop of the 2008 financial crisis

Resulted from the corrupt banks & lack of transparency
That's why #Decentralization is the one core principle

That no Layer 1 blockchain should compromise

Compromising on #Decentralization takes away the whole value proposition of public blockchains

Now let's move to the facts and metrics comparing #Ethereum and #Cardano
Read 30 tweets
In case you wondered, here are some quick clarifications about the infamous 'collaterals' in #Cardano.

There was an interesting conversation I was brought into and thought it could be interesting to turn it into a proper thread.

All you ever wanted to know about collaterals 馃憞
With the Alonzo era and the introduction of Plutus scripts was also added a new feature to transactions: collaterals.

In essence, a collateral is an input which is consumed when a script fails to execute in a transaction.

But, aren't scripts supposed to be deterministic?
Precisely.

So in principle, any user in their right mind would not submit a transaction with a failing script, because they would know the outcome in advance.

Yet, an attacker of the system might find that interesting...
Read 17 tweets
The Age of Voltaire marks the beginning of the end of the Bootstrapping Period for #Cardano.

Here are my thoughts/opinions on how this all comes together and what this ultimately means for the long-term sustainability of Cardano as a decentralized cryptocurrency project. 馃У

1/n
Every blockchain-based cryptocurrency project has started off with what is considered a Bootstrap Period.

Bitcoin has/had this with Satoshi, Hal Finney, Mats Henricson, Blockstream, etc.

Ethereum has/had Vitalik Buterin, Gavin Wood, Charles Hoskinson, Consensys, etc.

2/n
The Bootstrap Period is the early phase that involves an initial set of singular/central entities with a surgical focus on getting the protocol on its feet and ensuring critical mass is achieved in growth.

For Cardano, this is helmed by the big three: IOG, CF, and EMURGO.

3/n
Read 21 tweets
Not a lot of people know this

But Babel Fee is an innovation that will make #Cardano future proof

And Babel fee is already live on #Ergo Image
Babel fees coupled with a communication protocol similar to IBC of #Cosmos

That will be a game-changer for #Cardano

Hint: App chains/sidechains
If you want to know more

Here's a fantastic educational content by @InputOutputHK that explains the tech behind babel fees.馃憞
Read 4 tweets
Basic theory of what Blockchain is aimed at newbies. Help us with a RT to share the message #Cardano #Crypto #Blockchain
(1/15)
Blockchain is a system that records all the data of a network in a way that makes it impossible or extremely difficult to change / manipulate it.
(2/15)
As the words says it, it is a chain of blocks. Each block contain transactional records and it's linked to a previous one and next one, except the first block that is called the genesis block. It works similar as a database but without a central authority controlling it. (3/15)
Read 15 tweets
Someone should start a crypto project called #NewWorldOrder that registers every human on earth as an NFT with their picture, biometrics, vital data, wallets, social media accounts, social credit score, current location... It would be so EASY, like Satoshi was a setup.
In fact, there are two big projects competing in this space, and I'm not sure which will deliver first in 2023. The team led by @elonmusk wants to use Twitter and Dogecoin, because Elon is a man-child without much sense. The smarter team will use #Cardano, which is banker tech.
Cardano is running late, so it'll probably go Twitter -> $DOGE -> sidechain (any), then later, a big migration to Cardano for consensus protocol and DID done right.

Devs complain about all the Haskell in Cardano. You know who loves Haskell? Bankers love Haskell.
Read 17 tweets
1/6 #Cardano separated cost accounting from computing and created a two-tier blockchain architecture, borrowing the principle of separation of concerns in data transfer from the TCP / IP network protocol stack.
2/6 Ethereum processes transactions and smart contracts at the same level, which otherwise involves centralized decision making (this is contrary to the blockchain principle), threatens user privacy, overloads networks, and slows down transactions.
3/6 The Cardano Settlement Layer (CSL) is used for ADA transmission and provides network speed.
Read 6 tweets
Basic guide on how to restore a wallet on @GeroWallet . Please RT to help spread the message. #Cardano #ADA
(1/13)
First, navigate to 'gerowallet.io' and click on the button 'Download'. It will redirect you to the extension of it in the Chrome Web Store. Then click on the button 'Add'.

(2/13)
On the top right corner of your browser, look for and click on the extensions icon. Next, click on the 'Gero Wallet' button.

(3/13)
Read 13 tweets
Some months ago, I was asked what I thought would be #Cardano "next big thing".

At the time, we only had a vague idea of what Leios was. The recent CIP from Duncan & al has shed some more light on it.

Ouroboros Leios is definitely the most promising L1 upgrade to come

馃憞
The idea behind Leios is (surprisingly) simple. So let's try to make sense of it.

Cardano is a distributed system, where nodes reach consensus by sharing blocks according to a schedule for which they're elected. The more stake they own, the higher the chances of being elected.
Blocks are produced about every 20s, and are propagated to the rest of the network as fast as possible.

If we zoom in a bit on a node and analyze what a node does, we see that most of the time, a node isn't doing much. It is actually idle for a large part of these 20s.
Read 18 tweets
Guide on how to restore your wallet in @BeginWallet and connect to a DApp, mobile version. Please RT to help spread the message. #Cardano #ADA
(1/10)
First, search in the App Store / Google Play Store the Begin Wallet app. Download it and open it.
(2/10) Image
At the bottom, it will show the option of create and restore wallet, click on the button 'RESTORE WALLET'.
(3/10) Image
Read 10 tweets
1/4 Anonymity is very different from #privacy, is lack of identity.
2/4 Strictly speaking, #Cardano is a pseudo-anonymous blockchain, meaning that only the amount of the transaction, the date, time and public key (network address) are visible, but not the identity of the sender and receiver of the transaction.
3/4 Of course, if it were possible in some way (and outside the blockchain) to identify the holder of the public key, his activity, or at least part of it, would be exposed in the blockchain.
Read 4 tweets
Seeing projects failing to release on #Cardano makes me even more appreciative to some of projects that are killing it 馃憞馃憞 thread time 馃У
馃У 1) Dex Aggregator - @MuesliSwapTeam

Has the title for the first Dex on Cardano and my go to place for tokens as it's aggregator function is awesome. Image
馃У 2) Nft Minting - @nmkr_io

One of the first nft minting services to Cardano. Nft Maker has worked with hundreds of Nft projects an absolute treasure. Image
Read 8 tweets
馃毃CARDANO ES MAS DESCENTRALIZADO QUE BITCOIN馃毃

En este hilo vamos a tratar de medir la descentralizaci贸n de ambos proyectos para ver cual de los dos es mas descentralizado

OJO!馃憖
Mas descentralizado NO significa MEJOR
La descentralizaci贸n es buena dependiendo que situaci贸n y que objetivo tenga el proyecto, y est谩 abierta a interpretaci贸n.
Hay quien piensa que la descentralizaci贸n total no existe, y que esta es un grado(Estoy de acuerdo)
Por lo que para esto, vamos a medir la descentralizaci贸n en:

- Cantidad de nodos FUNCIONALES
- Resistencia a la censura

As铆 que vamos a empezar!

Dificultad: Facil
Tiempo de lectura: 6 minutos
Read 35 tweets
1/n In collaboration with @0xD9E0, Token Stake Pool is launching a collection of non-fungible tokens based on #Cardano, inspired by Conway鈥檚 Game of Life and electronics.

馃敳 16x16 pixel art with 16-frame Aseprite animation
鉀擄笍 on-chain minting using only ~25% of metadata space
2/n Our website is a simulator of the cellular automaton with keyboard controls and vending machine address to mint one of the 2048 non-fungible tokens. #CardanoCommunity #CardanoNFT

馃 1984 animated tokens
馃 64 special Game of Life boards by @0xD9E0

nft.stakepool.cc
3/n Each non-fungible token can be staked to receive 16,000 $TOKEN every epoch on:

鈽傦笍 tosidrop.io
馃Ν vm.adaseal.eu
馃挧 dripdropz.io
Read 4 tweets
馃 Hydra Head is the first in a suite of Hydra protocols that aim to increase network scalability. It's an L2 solution that works as an off-chain mini ledger between a small group of participants 鈥 similar to the main on-chain ledger but faster, more cost-efficient.
#Cardano
1/n
馃攷 Hydra Heads are fast, scalable, isomorphic, and customizable.

Hydra Head transactions and ledger rules are similar to #Cardano鈥檚 mainnet, which allows easy support by existing systems like #DApps and wallets.
2/n
Hydra Heads are most beneficial to be used by a small group of participants who need to process many quick interactions. Use cases include bank-to-bank transfers, pay-per-use API services, #NFT auctions, and light wallet micropayments among others.
3/n
Read 6 tweets
There is a ridiculous project on #Cardano with a worthless token,

that is doing more for your network than you can even imagine.

Wondering how?

Here's a story on how a meme coin is decentralizing the networking layer #Cardano馃У馃憞 Image
Yes, it's #Hosky

the infamous meme coin of #Cardano

I am sure you have heard the name #Hosky, but do you know anything more about it?

So, before we get into the details!

Let me tell you the story of #Hosky!
When the #Cardano L1 enabled the native tokens, way before it had smart contracts

There was a rush of 100s of different tokens

But one thing was missing

Yes, a low qualitys**t coin meme token

That's why #Hosky was launched
Read 24 tweets
FYI #Grayscale has 2 funds with $ADA in it. The first is their Digital Large Cap Fund that holds $161.6 mil USD of assets, 2.25% of which is $ADA. The second is their Smart Contract Platform Ex-Ethereum Fund that holds $1.3 mil USD of assets, 28.89% of which is $ADA. 1/n
2/n That is ~$375,570 of $ADA (~1,251,900 $ADA) in the Large Cap Fund and ~$3,636,000 of $ADA (~12,120,000 $ADA) in the Ex-ETH Fund. Together it's less than 14 million $ADA. It's really not that much so their potential collapse is more a problem for the general market
3/3 Yes, that includes #Cardano, but that's more as a consequence of being tied down to $BTC. Their potential liquidation of 14 million $ADA is a non-issue (for reference, #Binance's $ADA trading volume is a couple hundred million per 24 hours).
Read 3 tweets
The team behind Cardano just announced a new privacy blockchain, Midnight.

馃え What is Midnight?
馃洜锔 The problems it solves
馃懁 How it compares with Monero
馃毆 Does it have a backdoor?
馃 Concerns
馃敭 Promises

Lets dive in! 馃У

#Cardano $ADA #Midnight $DUST Image
Midnight is a data protection-based blockchain that safeguards sensitive commercial and personal data, protecting the fundamental freedoms of association, commerce, and expression for developers, companies and individuals. Image
馃 Freedom of Association

Community rules (e.g. age limits or location limits) can be enforced without disclosing personal information. This allows rules based collaboration while preservice privacy Image
Read 14 tweets
Regarding the official #Monero account's misunderstandings yesterday, #IOG's Executive VP of Strategy, Rob Adams had this to say: 1/n #Cardano
2/n "Somebody said something about a backdoor, there's no backdoors in Midnight. I'm not even sure where that assertion would come from. There's nothing in the chain that says there is the ability for some random person to just get in and understand everything that's happening.
3/n But, a DApp developer can say in their terms of service "I'm in a regulated industry, I'm going to need to respond to subpoenas or something like that. Do you agree to use my DApp in order to use my service?" and what that will allow the DApp developer to do is,
Read 8 tweets
1/6 #Cardano Peer-to-Peer Network (P2P)
Cardano nodes and the interactions between them are combined within a network layer, which distributes information about transactions and block creation among all active nodes.
2/6 In Byron's federated system, nodes were connected by a static configuration that was defined in a topology file. Since Shelley's introduction, the system has operated in hybrid mode.
3/6 Moving from the federated to the hybrid state of network connectivity, a hand-built peer-to-peer (P2P) network of SPO relay nodes was added. Then with decentralization complete, the federated nodes were powered down and the SPOs were able to connect to each other's relays.
Read 6 tweets
Continuing live on stage, and here on the livestream, IOG's @khstandrews presents more on P2P #Decentralized networking and creating a fully decentralized and self-organized network.

Join us in the livestream!

#IOScotFest #Cardano #CardanoCommunity Image
@khstandrews Fun fact: Cardano turned five this year! Did you miss our blog celebrating the innovations happening across the ecosystem? Check it out here: iohk.io/en/blog/posts/鈥
@khstandrews For more technical updates, join us on our technical community Discord channel discord.com/invite/TGNHgG5Q
Read 4 tweets
So I've been doing some thinking about what @IOHK_Charles announced today. This is bigger than all of us realize imo. We won't know the real ramifications for years to come. Some of the early ideas I have already thought of are
1. Real estate transactions, country specific voting. The list is endless as to what Midnight is capable of becoming.

The most interesting idea I just had was the usage of midnight within DAO'S.
Imagine a corporation decides they wish to forgo the traditional route of creating a real life company and creating a DAO using Midnight. Now you have the capability of creating an actual organization and maintaining its privacy and intellectual property rights,
Read 6 tweets

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