Dawn of F&F

and we're live hi this is Charles Hoskinson broadcasting live from warm sunny Colorado it is 10:30 at night it's time for another video so what are we going to talk about tonight well the friends and family test tent is just about to begin next week we're gonna be turning that on tentatively I think the beginning of that's scheduled for May 11th we have an invitation list and there were a lot of criteria and parameters for it we picked a lot of different people like Rick and others and basically the point of this is to begin a conversation it's really two different things one to make sure the software is actually working for people before we do the live main the live test net for everybody just so we can kind of have a try before you buy it broadens our entire QA set and to we're beginning the conversation about various parameters that are things that we have to set with the community so things the pledging mechanism it has to be explained and it has to be set we have mathematical models we have papers we've run simulations we have a really good idea of what these things actually mean and why they're necessary but you don't just set these things in a vacuum you have to talk about the consumers of these systems including the saturation parameter as well as those things the desirability index and and so forth so the point of the ITN was to build up a large population of operators who were sufficiently competent and skilled and had enough time to understand what we were trying to accomplish read the specs run their own stake pools so that we had a counterparty where we could begin a very rapid dialogue and show them what we're thinking and have that conversation to the extent where we could confidently get the initial set of % that for it stumped now I've seen some videos from the Cardo no effect and other content floating around and basically people are a little frustrated about us just not proactively setting a parameter or speculating on what those parameters happen to be and the reality is these are parameters that can be set to anything it's more of a question or what are the consequences of setting them and who does that empower and what are the trade offs for the people it doesn't so you don't have that conversation unilaterally and you don't have that conversation from an ivory tower with a white paper rather what you do is you have that conversation with your community directly through productive channels and productive means so the first step of getting this friends and family test that started once we have things running and we get all the plumbing for the CLI and other things turned on is really to begin that conversation so that's going to begin through series of blog posts series of videos as well as an interview on the card on Oh effect was some of our product team and the Cardinal effect members and then that's gonna continue directly with the community as we are running the Shelly Haskell test that hopefully towards the end of the month and looks we're moving in that direction quite well now once we've had a productive conversation these parameters are quite easy to set because the way that we've constructed the code it's just a value you put in or a model that you put in based upon some input however it's important to point out that whatever we set these things for there will be mechanisms within Cardno to change these parameters should they be ill-conceived or not well set and those will be controlled ultimately through what we intend on deploying with voltaire so this is the example of a dynamic system and this is an example of a self-correcting system you do the research you think a lot about the game theory you design the protocol if you put things in for good reasons either it be security or ideally incentivizing things to grow in a certain direction or to help the network maintain a high level quality and reliable performance but then you actually take a look at what the free market provides how the staking business model has evolved and then based upon those data points you can tune parameters moving forward and eventually those parameters will be self tuned by the community itself through some form of an update mechanism that's decentralized we're pretty excited to see this test that finally come out it's really the the last mile and the last setup of things before Shelly launches and what's most important to us is that we're as inclusive as possible what's most important to us is everybody understands why we did the things we did and what's the purpose of each and every one of these parameters and they certainly differentiate us from other protocols such as Casper for example with Casper you're required to bond money at least some of the versions we've read it's hard to know exactly what the final design is but in the versions we've looked at you're required to to bond and if for some reason something happens you could actually end up losing your money these mechanics are not in our system pledges while potential it's nice to lock them or nice to leave those funds static there is not a situation currently in the design of Ora Boris or the game theory that we've posted that you would lose your pledge for malfeasant behavior now these punitive measures could be added in later on should they be necessary but economics and social pressure and loss of revenue is perhaps a greater stick and a greater carrot for us to have rather than a direct punitive measure and these are fundamental assumptions about how the protocol works and it's important under the community as a whole understand these differentiators in these assumptions and that's really the purpose of these tests that's this month is to get everybody who's been involved in the business of consensus into a common communication channel and it's no longer a question of can you show the community you can reliably run a stake pool can you build a business relationship with your delegate 'yes we've seen that with the ITN I've seen many great videos from stake pool operators we've seen over thousand registered hundreds regularly make blocks we've seen a tremendous amount of innovation and some creativity in some cases even tinkering with their clocks by a few microseconds here milliseconds here and there to gain a competitive edge it's really remarkable to see the creativity and ingenuity of the community so it's longer the case are we asking will people show up to run the system it is clear abundantly clear beyond any reasonable out that there are definitely a group of state pole operators well more incapable of taking the reins and running the card no net at work not only efficiently but also growing with the network so that that's great and kudos for that because it means that we will launch in a very decentralized state now it's more of a question of how do we work through making this an attractive business model for stateful operators one that does not favor an oligarchy or Plutarch II or a large or excuse me a small subset of the total population one that is as a gala terian and fair is we can possibly make it while still protecting the system from DDoS attacks and other such things and that's the point of this conversation and it's a conversation we feel we can have very quickly and in parallel as we're finishing the shellye components and bringing those components to market for everybody so next week is the beginning of that but by no means is the end and it's going to scale very rapidly and it's going to become a great dialogue now there will be times during this dialogue that people have strong opinions there will be times during this dialogue where people disagree and that's good for the process as well part of the strength of these ecosystems is our ability to disagree without being disagreeable part of the strengths of this ecosystem and all of these ecosystems is the ability to eventually reach consensus and find a compromise solution that most can live with without massive fragmentation siloing or fracturing of the community unfortunately for all of its strengths Bitcoin has failed this this requirement for all of ethereal strengths theorem has failed this requirement as their crises came up at least once in their histories they've seen significant fractures that have occurred and our hope this is that if we handle this process well responsibly and as adults we can find proper parameters set those parameters and we too can enjoy resilience but not at the expense of alienating of cleek of our community so it's gonna be a fun month especially for our Community Managers especially for those who are in the business of education and it's gonna be a fun month because there's going to be a lot of comments on reddit Twitter a lot of comments on telegram a lot of opinions podcasts tons of videos that are gonna hit YouTube and it's also going to be a fun month because this is the first time that people in our ecosystem finally get to use the Shelley Haskell code it really is a product of passion and something that is as elegant on the inside as the outside and there's nothing in my career I've been more proud of than to see this codebase evolved from concepts and ideas by engineers who had to spend quite a bit of time to understand optimal ideas and turn into something that is actually production-grade multi-platform Enterprise quality verified with formal methods it's magical and I've never really in anything I've done in any endeavor I've done seeing things as high-quality and special as what's shipping with Shelley I in the fact that we've been able to launch the byron reboot right at the tail end of March and just a few short weeks go through many Dedalus flight candidates and then roll those candidates into the main net Daedalus resolved tons of issues that people who are encountering I and rapidly improved performance as well as sync time and we're still releasing flight candidates and we are able to debug things very rapidly this bodes incredibly well for the future of the platform because it means we never really have to rewrite much things are already pretty modular and it's very easy for us to debug and fix things and very rapidly deploy patches or ice or identify why problems are occurring for subsets of users this simply was not the case for our old codebase and frankly this is simply not the case for the vast majority of cryptocurrency projects as cryptocurrencies evolve and grow they tend to accrue an enormous amount of technical debt and they also tend to accrue a lot of architectural failings that make them very difficult to maintain upgrade and rapidly slow down your ability to adopt new features and functionality or to radically change the system where and when that's prudent to do so with what we have produced I feel very very confident that we should be able to address all the challenges that are meaningful to our ecosystem this year and witness the dawn of decentralisation and also witness the dawn of smart contracts and governance on our system this is an enormous accomplishment and one we will wake up every single day in some cases sleepless days to achieve but all that's great and it would just be a product if that's where we stopped what makes this special what makes this a movement and what makes this unique resilient and sustainable is you the community and your ability to interact with what we have produced and then guide its evolution towards a higher form that is ultimately beneficial for as many people as possible and also allows our community to embrace new business models to derive income to actually provide value for others using this ecosystem as a tool that's really the most important part of why we do what we do Cardinal is a platform and it's a platform that enables new types of business models and it's a platform that has many different actors from those who govern to those who operate to those who develop and it's going to really push the future economies of many nations for that to be successful it has to be useful it has to have a great experience and it has to be something that people feel valued and listened to and that's why the upcoming test nets are really about us demonstrating our capacity as a community as a whole to listen at our capacity to converge to sensible answers about parameterizations that allow us to get to the next level this by no means is the only debate we're going to have in fact it's the beginning of many but it's probably one of the most important because it's going to set the tone for how we do things moving and it's going to set the tone for the entire cryptocurrency space about how car dotto as a community solves its problems and reaches consensus about decisions and if we do a great job here it will in view an enormous amount of confidence as we launch Shelly that not only are we here to stay we're not really gonna see things like car tanto cash or card on classic rather we're gonna become the global standard that all nations use and all people use for their projects they know that they're building on granite so next week's going to be a busy one and every week thereafter is gonna be pretty busy this month hold on to your butts it's gonna be fun it's going to be challenging and it's going to be ultimately very rewarding and we will exit May with an enormous amount of clarity and enter into June with our eyes laser focused and set on getting Shelley main net turned on ready to go to my development teams I I'm sorry that you're gonna have to go through a lot of sleepless nights this month and the next few months as you do your job and get these things done and we there's a thousand little things that come up as with all crypto currencies and to our staple partners the people who are currently running the ITN and very soon we'll be running Cardno itself welcome to the new age and I'm really proud of all of you many of you have put in unlimited amounts of time over the last three months some of you had no technical skills when you started and taught yourself how to use get taught yourself how to use Nix taught yourself how to become familiar with a command-line learning how to install Linux and configure something there it's truly amazing to see the enthusiasm passion and just frankly commitments we have witnessed over these last month's and the fact that our network is running so well and the itn is already one of the most decentralized networks around and frankly is probably it was maintenance a centralized cryptocurrency is currently in market is a testimony to your work the stake co-operators because ultimately you're the ones who that so it's going to be a lot of fun to work with you this month and next month to get all these things finished make sure that your infrastructure is running well and to do everything in our power to make sure you can have a great relationship with your customers the people who delegate to you and that you could do the job that you signed up for which is running the world's next financial operating system so have a wonderful night thank you so much for listening and let's get this done grab a shovel and let's build a better tomorrow thank you much