Shelley Update

hi everybody charles hoskinson here live from warm sunny colorado to talk to you guys about stick pools and volt and shelly and where we're going from here so we're working on gogan and we're working on voltaire but we're still working on chile and we're also working on basho as i mentioned before the road map is actually parallel so instead of it being linear where we do byron then we do shelly then we do gogen then we do basho then we do voltaire we launched shelley but there's a shelly team that still does shelly stuff at the same time as a gogan team doing gogan stuff so we're just at the beginning of staking and stake pool operation and all of this stuff and there's lot to do so august was all about just getting everything solid and stable and getting reasonable performance and we've achieved that we achieved that with the 1.19 release we did a lot of updates to dead list we did a whole bunch of stuff in the wallet back end and all august was consumed just doing that stuff and there was a few releases and for the most part mission accomplished liquidity has been mostly restored with exception of bittrex uroy is now where it needs to be sebastian has crazy hair because of all the work that he's had to do and it was a tough month for a lot of people but we got through it now when we look to september and beyond there's a few different threads that are coming one of them is this concept of partial delegation i call it one-to-many delegation so instead of saying hey you have to atomically delegate your entire wallet you can go one to n pools and then this will enable some new ideas for example things like delegation portfolios so you can choose a collection of pools and ratios to each pool and then you can share that and import those lists smash is another concept that's been under development very heavily and smash is just our view of how metadata should be handled for stake pools but eventually smash is going to evolve to be user driven and what i mean by that is that you the user of daedalus can choose different smash servers that have been basically parameterized by different people so there's the iog default and that's the first generation of the smash server but the foundation can run one a mergo can run one other people in the community can as well and then we'll create an option in daedalus to basically allow people to do that the presentation of stake pools this is another interesting thing so right now we present them and we're finally gonna get that whole non-myopic thing and proper ranking again and so forth very soon that's a big priority for september that's just one way of presenting them you can present them via different parameters and actually you can even present groups like when this portfolio idea comes in instead of showing individual pools you could do a portfolio view and then you just click on some collection of pools to delegate to and there's different ways of ranking that and so forth so there are a lot of conversations about presentation and this is a big ui ux thing and this is actually a big science thing as well about staple preferences so more than one smash will come because smash is being turned into a plug-in for our db sync and once that's been done it's possible for the community to reuse that architecture to instantiate their own smashes and then we can make those user downloadable portfolios will also be user generated and user downloadable and you can import them into daedalus and we'll create a format for that and we're going to think a lot about different presentations and you're going to see a lot of experiments on different presentations and we even have a dedicated ux ui guy whose job is to think about this his name's mike and he's quite good and he only recently came on board so the current presentation don't fall in love with it there's going to be options and different ways of doing things we hear you we see you there's only so much we can do in a short period of time and there's a lot to do to get there one-to-many delegation now i just got the proposal from vacuum labs for the update for ledger and trezor and they're gonna do one-to-many delegation on ledger and trezor that's actually quite straightforward for them to do but then we're also gonna see if we can do pledging and i've actually been in talking to aguilos about a concept of proxycats test proxy keys and so the idea here is that we'd like to have a state pool operator have two environments a hot environment and that's what they run on amazon or in their bare metal server and a cold environment and that's what contains all the private keys and the money and that is where people are delegating their rights to so basically when you delegate to those certificates and everything all the things that give the pool the right to make stuff and win should live in the cold side and then what the cold side will do is it will create some transactions that will give the hot side the right to operate on behalf of the cold side okay so this is kind of the best of both worlds because you can optimize the hot side for cost and have it a really nice environment but if that environment ever gets compromised what you can do is you can generate new transactions to a new hot environment and and you don't lose your money and we'd like this cold environment to be trusted hardware like ledger's treasures or potential even deploy on sgx or things like that so we're actually exploring all of these ideas on how to do that and this is part of the relationship with vacuum so they're going to very least give us pledging and one-to-many delegation and we're also going to have the hardware wallet center coming in daedalus so you'll be able to delegate from your ledger or trezor device with a deadlift just you can with ada light and uri so all those features are coming but we care a lot about the operating environment for the state pool operator and really really think a two layer model a two two module model makes a lot of sense where you have trusted dedicated hardware that is cold offline air gapped those keys never touch the internet people delegate to the credentials from that system and then that system allows you to generate transactions which enable an operating environment which lives in the cloud or on a bare metal server to be able to do all the work and so there's some things we have to think about like proxy keys and so forth to fully enable this experience but vacuum's a partner in that respect and they're going to work very closely with us and we'll keep updating ledger trezor until eventually we get to that cold hot environment for you spos because we care a lot about your security and your safety another thing that i'm really keen to do is multi-sig pledging okay so basically multi-sig pledging is where you have smaller pools come together and they pull their capital together and then they use that for a unified pledge so we have a situation where some people no matter how favorable the protocol gets was parameters just really not they don't have enough capital quite yet to be able to be competitive so instead of complaining about it let's let them work together and then be able to work something out where they can collectively pledge and that collective pledge can count as one pool and then they can split up the profits by whatever scheme that they want so we're going to explore multi-stick pledging we're going to explore test proxies there's a lot of things to think about that are coming on the horizon not necessarily in september this is september and beyond but when we say that the shelly thread is continuing this is what we mean two other things there are the parameters k and a naught and d and d just keeps decrementing we're almost at 7.