A Few Thoughts 03/31/2020

honey this is Charles Hoskinson broadcasting live from warm sunny Colorado still under quarantine and looks we'll be that way for the entire month of April hopefully with better testing hopefully with some therapeutics and hopefully for just a dire economic necessity we can all get back to work in May but the good part about running and working at a remote company is that there's no disruption for us although I do miss going outside from time to time but the farm is quite nice so it's good to survive it is March 31st and this is a big milestone for us this is the first time we did a product update live there were seven people who participated on our side all product managers and Tim and it was great I think we had at least 700 or 800 concurrent people a lot of good questions good chat well moderated crowdcast is a great platform I'm very happy with it and I'm really glad that many of you attended it but you'll notice something I wasn't there this was a great opportunity for the product team to showcase what they're doing and actually have their time in the spotlight so they covered a lot of ground they covered the Byram reboot which is out it's coming out today and all throughout the week stuff related to it's going to be releasing so things a command line client things like Daedalus flight talked about what Daedalus flight is all about you guys are also going to start getting bi-weekly updates on Daedalus flight just we're doing ITN updates so if you miss those ITN updates now you get Daedalus updates and covered Hydra talked about a variety of different things so it's about an hour long and I will put in the show notes and the video notes the link to that crowdcast recording this is not a one-off event this is going to be something we do every month and you guys can directly participate you can ask questions those questions will be remembered so even if they don't get answered in the live cast itself we will make an effort to answer them either in my Maes or blog posts or in future events it's very important that we make these events as interactive as possible and then you guys have a great opportunity to spend some time basically thinking about things asking things answering things and so the the please do attend them if he can make them I there are scheduled events my events are spontaneous we just kind of pop out of the ether these are scheduled events and we'll let at least a week beforehand so if you miss this one that's okay every month here after it's gonna be there as long as we're working on card on Oh hopefully that's a very very long time now yesterday I did a video to start the conversation about expectation management as I mentioned when we originally signed up to work on Cardno in 2015 the problem with the tight scope was that there were just too many unknowns we didn't know what accounting model we were gonna use how the network stack was going to work we didn't know who was going to be proof of work or proof of stake so it was really difficult to write detailed specifics rather it was saying it's a two-phase project one is a broad scientific exploration which will result in a collection of protocols that will allow us to construct the best-in-class crypto currency that's truly competitive for that market and then two is the execution of that using principles so what I was trying to do in the video was kind of scoped out what we are delivering and we'll get done and will not leave until it's absolutely done and then what we turn to BC CCI which is an endless River it's something that is necessary for that time so things that are commercially critical in 2020 will be different in 2025 in different 2030 and there's always more to do the point is that it's a single vendor to get a foundation and that's us and we're going to stick around until that foundations build and then it's a thousand ships when you get to see CCI because we all have different opinions we all have different approaches we all want to make money so everybody's chasing that value that the platform is creating just like Apple when they created the iPhone they created a platform it's a single vendor to get that platform started but then the AppStore is there and then you have thousands of app developers floating in and building really cool interesting fun exciting things so that is something that's going to be here in 2030 and 2040 and the same for Android so it's very important that you develop both sides of your ecosystem or else you develop monoculture around a single vendor a single idea set and then you end up being like Microsoft in the early 2000s and 90s you become this ossified ecosystem and if you're lucky enough to get a network effect you can stick around for a while but you're not really innovating you're not improving people's lives and you're not really making a great experience the point of that video was to try to say we are now separating the CCC I from what is in scope for Cardinal 2020 and the point about it was that Cardno 2020 what we're doing that single vendor site is going to deliver the best-in-class cryptocurrency on market smart contracts ledger rules that are written with formal semantics you have best-in-class Network stack the best programming languages yet you have great wallet experience you have fast sync you have all these things that are there that really make it a great piece of software and in particular with shipping this month this upcoming month in April and rolling all throughout the month as our whole network upgrades because it takes a lot to get hundreds of thousands of people to do something is the first reflection of what the final product is going to look like biron reboot is not just a small piece of software it shares about 80% of the codebase that Shelley has and it's built with evidence-based software techniques so that is a foundation that we're proud of that's a foundation that people can easily build on top of and that's the foundation that will be around for quite some time so there's no more grand code rewrites and most things are iterative from here and the science is all done we've completely be risked all the protocols that we want to ship in 2020 at the end of the year we're going to put together what we accomplished so we're gonna write this gigantic closing document basically say here are all the things that we built in a very short period of time now unfortunately some people in the community and mostly trolls but some well-intended people got very scared and they said oh well this means that I which he is leaving and they have no intention to stay these are commercial activities and we need a funding source if we're going to continue working on the protocol we didn't sign up to indefinitely work and go broke making contributions to open source software but the good news is that the way we constructed things there is an economic reality where i which kate can stay long-term if not indefinitely but this economic reality requires consent consent of the ada holders meaning that at the end of the year as we close out shelley and Gogan and Voltaire and the optimizations and clean up whatever needs to be cleaned up and have beautiful documentation we give you that closing report and we say this is what five years of our time with us starting with a very unclear picture Bachchu and here's what we did and then we say here's what we'd like to do with another three to five years and where we can go and basically that's going to be a big thing and then we go to the community we say all right let's vote on this and then the community gets to decide do they want to go and down that road and by the way we've professionalized over the last five years we've gone from two people to a company of 200 we've assembled the best Brain Trust in the world for crypto currencies we now have great product management we now have good software development processes as you see reboot rollout and how quickly Shelley rolls out thereafter and Gogan rolls out thereafter you'll get a sense of the acceleration velocity in the unique knowledge and capabilities we gain so we think we're uniquely suited to be in a good position to make the case that we can do far more with the next five years and what we accomplished with the first five years which is already I'd say more than any other cryptocurrencies project objectively then when we write that report you'll really see it the amount of work is staggering and so we'll make that bed and the community is in the drivers they get to decide and if they say no we don't want to do that then we say okay that's fair well maybe you still stick around for a little bit then make sure a few things get done but then it's truly an independent decentralized system and somebody else will have to step up and maintain it but we think the most likely outcome is that post-2020 I which case will still be here I and the only reality where we're not here is if you guys get a better deal from somebody else a better deal where somebody can offer more for less a better deal where somebody is more capable of meeting the code that we wrote I can't really fathom that reality given that we're in the best position to execute but this is not something that should be viewed as an existential threat it's rather something that should be viewed as the way forward for all crypto currencies these are not cults of personality these are not beneficent dictators for life these are not situations where one party gets to decide indefinitely how everything ought to work if these are truly decentralized systems these systems must give the people who are building them a democratic mandate to do that now there's needs to be checks and balances and those needs to be proper controls and social structures such that you can vet things and avoid basically a demagogue from overtaking the place this is why we said evidence based software important that as we get to the end of that road there would be diversity and there'd be lots of people doing things and those people don't necessarily have to agree and in many cases don't necessarily have to like each other they just have to agree that there's a common good that they're all working towards and that Cardno as a platform has the right to grow to millions of eventually billions of users our recent investments in the University of Wyoming lab for example have created a mechanism for a UNM u.s.