Sooraj 🚢 Profile picture
Sep 28 7 tweets 4 min read
The proposal Daedalus Turbo is actually infeasible in the current state, which got funded

The step involved in the #ProjectCatalyst to prevent such an event is the proposal finalizing stage

Where veteran proposal assessors (vPAs) give green light to proposals for voting stage
Daedalus Turbo just got funded for building a technically infeasible product

Total funds allocated USD 759000

That is 6% of the total catalyst budget, allocated to a team/person with no experience in #blockchain development
Even after #CardanoCommunity, red flagging this proposal way before the voting stage, through informal channels

The lack of accountability and the technical knowledge of vPAs actually resulted in this proposal getting funded
@InputOutputHK arbitrarily involving in the post-voting process is not the solution

We need a process that ensures stricter quality assurance & technical feasibility of proposals that cross a certain monetary threshold

That's why accountability for vPAs is critical
@IOHK_Charles said in this video that "this is #Decentralization

let's call a spade a spade

This is a quintessential example of how flaws in a decentralized funding process result in the loss of community fund

That's what this is
The fact that @IOHK_Charles never even said a single word about the process that resulted in this infeasible proposal getting the fund is pretty disappointing

What we need is a process that ensures strict quality control

That's not there right now
Here's a link to the space place that discusses this proposal way before voting stage 👇

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More from @Soorajksaju2

Sep 22
#Cardano just embraced the #Vasil upgrade

Its the right time to look back at the groundbreaking successes of #Cardano

A novel consensus protocol based on Proof of stake (PoS) is one of them

So let's compare & contrast the PoS of #Cardano with PoS of #Ethereum 🧵👇
Since the #Shelly upgrade in 2020,

#Cardano is running on a PoS-based consensus protocol named Ouroborus

It is the first provably secure PoS-based consensus protocol

and the 1st blockchain protocol based on peer-reviewed research

Running without a glitch for the past 2 years
After years of development,

the Ethereum Merge happened on September 15, 2022

The transition from PoW to PoS was enabled

by merging the old PoW Ethereum mainnet with a separate PoS-based blockchain called the Beacon Chain

Which now exists as one chain
Read 30 tweets
Aug 27
#Decentralization of the networking layer of #Cardano is the most anticipated upgrade after the #Vasil HFC event

P2P is one such upgrade that will make #Cardano a far more decentralized & resilient network than what's it now

So here's a thread on peer-to-peer (P2P) networking
Decentralization is a core value and driver for #Cardano

And there are three pillars to Cardano's decentralization

• Networking

• Governance

• Block production
These three pillars are intrinsically linked to one another.

And all of them work synergistically to achieve the complete #decentralization of #Cardano.

As of now, #Cardano has achieved complete decentralization of the "block production."
Read 36 tweets
Aug 7
Data availability has been an exciting and new topic for discussion among the #CardanoCommunity recently

But it's also an abstract and complex topic

So here's a thread that simplifies "Data availability"(DA)

And how a DA-Layer would function on #Ethereum 2.0
Data availability is the guarantee that the block proposer published all transaction data for a block

And that the transaction data is available to other network participants

Why is it important?

For this, one must understand how trustlessness work in public blockchains
• Block:

Each block has two major parts:

• The block header:

This contains general information (metadata) about the block

Such as the timestamp, block hash, block number, etc.

• The block body:

This contains the actual transactions processed as part of the block
Read 38 tweets
Aug 3
How to assess an L1 PoS smart-contract enabled #Blockchain?

It's one of the most challenging tasks a normal user faces

And for that, you have to know about the metrics that make an L1 valuable

So, here is a framework for you to assess an L1 PoS Blockchain 📊🧵👇
L1 utility tokens are an emerging asset class of the 21st century

And when making investment decisions in this particular asset class

It is important to not base them on hype or ever-changing narratives

And it's also important to separate a "solid" L1 from a "mediocre" L1
Especially in the light of recent events

It becomes more & more obvious

That fundamental and metrics-based decision-making is key for a profound project assessment

So don't follow the hype, follow the numbers
cnbc.com/2022/06/01/sol…
Read 22 tweets
Jul 19
Recently, #Algorand has become a hot topic among the #CardanoCommunity

The curiosity peaked, especially after @JohnAlanWoods left @InputOutputHK

To become the new CTO of @AlgoFoundation

So, here is a thread on #Algorand & its Pure Proof of Stake(PPoS) algorithm🧵👇 Image
@JohnAlanWoods @InputOutputHK @AlgoFoundation The purpose of this thread is to focus on👇

• Nodes & Network

• Accounting model

• The team behind #Algorand

• Launch & Initial token distribution

• Consensus & Pure proof of stake(PPoS) sybil protection

To provide a basic understanding of #Algorand
@JohnAlanWoods @InputOutputHK @AlgoFoundation Team👇

Algorand is a L1 Blockchain

Founded in June 2019 by computer scientist & MIT professor Silvio Micali

Who co-invented many breakthroughs at the heart of modern cryptography

such as VRFs & zero-knowledge proofs (ZKPs)

& won the 2012 Turing Award for his contributions Image
Read 26 tweets
Jul 1
Governance is a crucial component of #Decentralization

This is something that #Bitcoin & #Ethreum conveniently ignore

But, #Cardano is built based on 1st principles & governance is a key focus of development

Here is a thread on Governance, Voltair era & Project Catalyst🧵👇
Like the way, democracy unshackled regular citizens to grab power from the feudal lords

#Bitcoin was the 1st movement

Enabling regular citizens to grab power from the flawed financial institutions

To create a fair, transparent & inclusive financial system

To bank the unbanked
But #Bitcoin has a fundamental flaw, which #Ethereum inherited

"Lack of Governance"

This lack of governance resulted in major community splits

Ethereum & Ethereum Classic as a result of a hack in 2016

Bitcoin & Bitcoin Cash over the debate of the network's scalability in 2017
Read 30 tweets

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