Some Brief Thoughts

and we're live hi everyone this is charles hoskinson live from warm sunny colorado always warm always sunny sometimes colorado i hope everybody's having a great day it is october 1st 2020 an exciting time exciting people exciting project we had a two hour product update yesterday just jam-packed lots of cool things john hughes from cubic the ben interview that i recently did which hopefully we should be able to get released soon and we covered each and every aspect of the product and it was really just a lot of fun and what october is going to be even more action-packed so this is this is the icing on the cake we've been through a lot together we've had to do a lot of work together but now we're in a wonderful position where we finally get to showcase cool things that are happening people transitioning to the platform and that was just a little appetizer for what's going to come so october is going to be a lot of fun september super busy month we had kind of a slower month in august people were taking some time off and recovering after that enormous sprint for getting shelley out and september was when people came back and really got at full strength and we did a huge amount of work bittrex came back online really excited about that one and we had a chance to release a few note updates improve all the performance issues that people were having and get everything back where it needs to go in october it's all gogan related stuff that they're working on and getting done we already got metadata out and there's improvements there improvements the graphql improvements to db sync improvements to smash improvements across the board to the node extended utxo stuff it's it's a lot there's a lot to think about and a lot to do but all the teams are working in parallel and we're also broadening the scope of the project a little bit we're bringing on a lot of people on the deadliest side we're tendering out a bunch of things for an identity center and we're going to have some fun talking about that all that voting stuff that you see on catalyst on the cell phone it's coming to daedalus and we'll make some improvements there so voting center a lot of stuff to do with qr codes and that's coming soon hardware has always been one of those things we keep pushing and we will get it out soon i've been dying for it for a long time because i'd like to manage my ada with with daedalus so there's there's a gonna be a lot of momentum this october and it's fun and exciting to see just every week we have a release this was not the case a few months back and now it is and that's just great and it's just great to have commercial conversations too the erc20 converter that's our first piece of commercial software where we built it to talk about the process of getting people to move from ethereum to plutus to cardinal solidity to plutus and boy that's just great and there's going to be more of that coming down the pipe so i just wanted to make a video and just kind of shoot the [ __ ] and use a little bit about all of the the things that have been accomplished and to also take the time to thank the team they just keep chipping away at these things and they keep working hard boy it is really showing off now the consensus redux paper is also out if you guys missed that that's the old aurabor scotcero so this concept of a self-healing ledger think about that self-healing ledger so how does the ledger recover when it's been attacked how does a network recover when it's been attacked we have solutions in both categories and that's just so incredible to see that the science is getting to an art and it's getting beautiful and there's a simplicity about it that's starting to become apparent which means we're really getting to the bedrock and how things are approached and we're starting to talk around what 2021 is going to look and all the things that are coming in 2021 and what's nice is that if you look at the beginning of the project we kind of estimated it would take five years to go do something incredibly meaningful so we spent years of research and then years of engineering and we said somewhere in 2020 we'll start the commercialization and the project is really going to start waking up and actually we were pretty right in that estimate we were moving in the right direction all along but the fact that this year's shelly shipping and significant components of gogan are waking up and voltaire are waking up and i just signed the authorization to do all the prototyping for basho so rob will be able to start talking the product updates pretty soon like door is is pretty amazing so all the things we thought could be are actually becoming are happening and that's that's cool that makes me happy and as we looked at 2021 this is about evolution of the platform as a consequence of the use of the platform i did a long interview with ben and actually i talked to ben for a long time ben gortzel six hours of just math talk philosophy talk ethics talk it was a a relentless intellectual exercise because he's an extremely bright guy he got his phd in math at 21 and that process was not only fun but it was very productive in that we were getting down to how will the existence of something like singularity net evolve cardano and then what is cardano going to do to evolve singularitynet this man wants a agi he wakes up every day saying artificial general intelligence we are going to make that happen and that's why he created open cog it's why he created singularitynet and we look at what we're doing and we look at what he's doing and we see their synergies and how we approach technology and how we think so the fact that we can actually have a legitimate conversation about migration of his concepts to our ecosystem and we can mutually benefit from the creation of new languages to how to use voltaire to help him get where he needs to go to creating demand for our platform that's a very powerful thing and every single significant partnership here on out that's the way it's going to be whether it be a data product like ips ipfs or whatever whoever has expressed any interest or is considering or whatever it is if they want to migrate over the conversation's not about oh well we're better because we're faster it's about by migrating over you're going to evolve and by you migrating over we're going to evolve and everything you do we gain and everything we do you gain so right now they have this hack the kucoin issue and they're saying god how do we do a vote it's all this stuff to think about and then in the future when we look throughout 2021 they say well voltaire you have this whole beautiful catalyst framework all these incredible things that come out of that and what does that mean it means that when you have a token in our system you just get a voting system for free and soon you'll have all the d5 and the oracle the stable coin and all these things that come and they're going to be a lot of fun but you get that for free as a consequence of being in this platform and all the things you do we do so once again hilarity net is over there and then we talk about hey maybe we can use some ai to help with this particular product like for example the network parameters of cardona or transaction fees of cardano maybe we could come up with a cool way that actually those can be self-regulating through an ai stack instead of human intervention every three months or four months this is an example of a collaboration how we work together and what we do and that's what's coming as a consequence of these partnerships so my hope is every month we can showcase something like that i told my commercial team marketing people to make that happen we'll find a way and certainly there's no loss of people who are very excited about these things and want to do these things and the erc20 converter is a phenomenal opener because it means we can literally talk to every single person who's implemented a token on ethereum and say are you so happy with paying such high transaction fees and are you so happy with the poor development experience and the lack of built-in governance and all these other things maybe you want to move on over and let's have that conversation and that's going to be fun to go and compete in that respect the other side of it is that it's really fun these days it was so stressful in the pre-shelly days there was so much to do and it was just all toxicity and complaints and trolling and blah blah blah and now it's so much fun like for example there's a cip out which is talking about changing the reward mechanism i forget the name of the cip but the fact that the community came together and they actually understood the work we'd done so well that they would be able to actually write a proposal for that today i was talking with dorr and roman and roman and dorr were going around a reward function for people who participate in voltaire then we were talking about how do we get both breath so making sure that every proposal gets some commentary on it and depth making sure the commentary is meaningful so there's a reward function we're thinking about for that for compensating experts to participate and i think wow the same thing that happened with the stake pools where they actually have an opinion and they want to change the algorithm will exactly happen there through the exact same process in parallel and everybody's talking everybody's thinking it's really cool it's really really cool and it's such a privilege and it's so much fun i couldn't imagine three years into the cardano being public that we would have already gotten such a phenomenal community so in addition to thanking all the people that got us here on on my side i just want to express my heartfelt appreciation and awe over the fact that our community has been able to achieve so much and continues to invest so much voltaire has been a shining gym 2 500 people participating with idea scale and a lot of great conversations underneath the hood for future funds fun too in itself is super cool but fun three is going to be even cooler and so much more to come especially as we enter into 2021 there are some things in fun too that are pretty exciting to me like for example the prospect of the cardano effect actually being funded by fund2 philippe and rick they put in a lot of work and giving them more funding means that they'll only be better but most importantly the fact that they could just be volunteers come into the ecosystem and then the blockchain itself pays them to do their job that's an amazing prospect and that is an example of a positive feedback loop that provides us the ability to grow and mature evolve in the right direction so that gets me super excited in that respect and i just imagine where is this going to go and how are we going to leverage this to go get the next wave of things people ask what's your developer acquisition strategy say i release something and 2500 people show up and they want to build stuff hundreds of different proposals and that's just the starting point it's going to keep doubling if i can fund a thousand applications a month i think i'm pretty [ __ ] competitive so 2021 is gonna be fun we think a lot about what's the end of the 2020 contract and where does that go as i mentioned before we don't leave till jobs done and there's still a lot more to do on the shelly side in the coming months we're going to keep doing that like partial delegation and improving the cold hot environment and we need at least one iteration on the incentive side to really get it to a point where the system is stable especially 100 percent decentralized so d has to hit zero so that's one dimension of it and then the other side the smart contract side that's an endless river you could go on forever but we have a really good idea with x units and extended utxo and pollutus and marlow and i want to have an imperative path procedural imperative path and a functional path so that both sides are represented and i think the work that we're doing with cuvick in particular will give us a best-in-class testing strategy for for these things and so in the coming months months we're going to talk about that and i think we can set some very realistic and reasonable goal posts voltaire's goal posts are very self-evident which are keep going until the system can actually support itself meaning that it's reliably funding things and that actually can make decisions on the path forward and the most significant decision to make on the path forward is going to be what are the next five years going to look so what we're going to do is take a step back and write up a big proposal and say this is where we would like with partners lots and lots and lots of partners with whom we've accumulated throughout the years we'd like to take the next five years just like where we started in 2015. the difference this time is we're a lot smarter we have much better processes we went from two people to 250 people so i think we can accomplish dramatically more in the next five years than we could accomplish in the last five years even though we accomplished more than any other project in the cryptocurrency space by by far academically in terms of line code in terms of so many different moving pieces and dimensions the f2 guys are struggling and they're trying to do the things we've done and they're starting to realize how incredibly intricate and complicated these things are and they're not even touching a lot of the stuff that we're flirting with directly they have no governance strategy at the end of the day yeah and we do and ours is a self-evolving system that's quite resilient and it's growing in the right direction and and in six months it'll be able to evolve itself to next level and then six more months the next level and that's self-evident we have a beautiful approach for proof of stake which solved all the theoretical problems and now we're in a position where we'll have whatever performance we need and when paired with hydra and that evolution we don't need the shard so they chose an incredibly complicated path for really no upside and they don't even have all the stuff we have not to mention the layer two portfolio that we've been building out and all the wonderful things there from what we've done with prism where we make identity a first class citizen and there's great standards the universal wallet standard we see at the w3c and so forth that we are competitive for and when we talk about regulatory realities the fatf for these things for exchanges we have beautiful solutions that are just there and they work nicely and it's just not evident and it's not a first-class citizen in the ethereum ecosystem so i like our prospects in that respect i think we've accomplished so much more and it's becoming evident to the space which is why we're under more criticism and more notoriety and we see some cases bitterness from other projects or fear from other projects the most curious thing is this is the first year of my life that adam back the ceo of blockstream is actively attacking me and he plays it off like oh i don't know anything about that project dude i don't read their papers and i don't care then why are you talking about me over twitter there didn't talk about me in 2019 2018 2017 2016 2015 2014 we knew each other ran into each other went to the same parties but today now you just can't resist but mention tweets of mine from 2014 when i was the ceo of ethereum can't resist but talk about me why because he's scared they're scared they realize that all the stuff that bitcoin does well and all these arguments they have for bitcoin perhaps they're going to go toe-to-toe with ethereum and they have some advantages there but we're better in that respect they say utxo is vastly superior to accounts and i say yeah i agree with you that's why we built a better one the extended utxo how about that they say oh well we got a much better approach for smart contracts with this taproot and all these shenanigans and i said that it's a pretty good approach i agree with you why we built a better one plutus and they say but proof of work has so many great security properties over proof of stake and i said well that may have been true back in the day but then we took the time to actually understand what they were and prove that we have them and we don't have to spend all that electricity we're 1.