hi everybody this is Charles Hoskinson broadcasting live from warm sunny Colorado I decided to make a slight change of things I shaved I shave about once a year and I gained about 20 years back so people go from saying I'm in my 40s till I'm 25 so some days it's good to look young although we're still under quarantine and there's there's nowhere to go but at least I can entertain myself and you can see I put on pretty heavy beards so I shaved about 12 hours ago I already have a 5 o'clock after shadow ready to go so I guess I'll have to shave every day if I want to keep this anyway I just want to talk a bit about Byron and Shelley right now as many of you are aware we're right in the middle of the pirate reboot it's been rolling out pretty successfully we've released to fly candidates another flight candidates coming out next week we've already made some considerable improvements on the windows side of things and syncing times in general anywhere between 30 to 50% for most users we also noticed that there were some network issues on windows that needed to be plugged up mostly because our development environment development approach starts with Linux and Mac and then we work our way to Windows so there's always going to be with that development paradigm some rough edges with the first generation on Windows but this is more of an interoperability thing than a design issue and so it just takes a little bit of time to clean things up here and there so Thursday we cut card out node 1.10 with all those windows improvements and they're gonna work their way into the deados flight release candidate we were planning on releasing on Friday that flight candidate but that was good Friday and Friday and Monday or holiday days for many people so will likely cut that release on Tuesday Wednesday and if everything looks good then the following week will go ahead and update the maintenance to absorb all of the flight improvements and given this extra time since the 31st we've been able to add a few more things in and it's a pretty substantial upgrade for most people all of our users have reported improvements even the Windows users and we've gotten a lot of great feedback data we've also replaced two of the core consensus notes so we're running two of the seven core consensus notes with the new reboot code and the reloop plays as well so for those who aren't aware of the network stack that we use and by road reboot is actually the same name or extent that we intend on using with Shelly so we're actually now testing Shelly infrastructure lives on main that and there's other things like the wallet backend design that we have is the same wallet back-end that will be used for Shelly we've already dearest all of those features with the ITN the user experience for Shelly will be relatively the same on Dedalus aside with the ITN so that's been dearest and it's ready to go literally they just have to turn them on so they're waiting for the wallet back-end to be fully integrated with the Haskell node and for Shelly node to be turned on so we're very very close to everything basically pulling its way together reboot was really the the big thing because that was like eighteen months of work in different silos having to all come together and work together and basically now that that is underway and it's percolating throughout the network all throughout April that d risks all of the components that we now need to pull together for Shelly so we should have a working shelly node where we pull those pieces together on the Haskell side fairly soon internally and what we're going to do is we're going to have the biggest stateful operators one who's been really loyal and passionate and just showed up every day regardless of the quality of the software on the itn side be the early adopters of that Haskell internal node so we'll have a node plus a CLI for them and working together we will be able to make sure that they're having a good time and that what we think is true is true and of course it gives them an opportunity to ask a lot of questions about how things are going to work and that's basically our first training set then once we've pulled in more pieces together then we're going to open it up to a Janelle general test net across all of Cardinal and the next wave of people can come in and then they can get support from Cardinal from IEEE which K as well as our ambassadors and the the early state full of doctors to help configure so that will constitute making sure that we can move everybody from the ITN who is an operational roll over to the Haskell side then the next test net will basically be when we connect the wallet back end to the Cardinal node and that will be the balance check so basically what that allow you to do is enter into your client software your keywords and you should be able to restore your main net wallet and you should be able to restore the test net earnings that you have and consolidate both of those together so the reason we're doing this is that as if we do it as a test net it gives us the ability if there's a mismatch if you think you earned more but for some reason it's it's not matching with our reporting it gives us an opportunity to investigate that and see if it was an accounting error or there was something wrong with how we did the UT Excel port because we won't be able to do any changes once it hits main net so we'll run that for a little bit once we're comfortable with it and all the pieces come together then we've started the shell ii-era we'll just turn it on for the for the main net the audit from route 9b is is under remediation at the moment and we should have most if not all of that done April 17 so that's in five days so with any luck if we can get permission from route 9 beed we should be able the following Monday to release the audit report publicly there may be a little bit of a delay there just depending upon wording and communication but then you can see what they said about the protocol and you can see that they confirm that we fix the problems that they stated now this is the first audit that route 9b has done for us and it was a very good audit it's a static audit but there's a more significant audit that they could do which is much deeper and contains more dynamic actions and really get into the nuts and bolts of the design of the protocols and the software and at the moment negotiations have started between the Cardinal foundation and route 9b to engage in that audit it's quite expensive it's a six-figure sum but you generally do this once every generation so you know Shelly is such a major milestone it makes a lot of sense but it wouldn't make sense for something like ogen for example but if we like a card on Oh 2.0 and released a whole new design it would make a lot of sense to do that also this codebase is more iterative now now that we've achieved the viral reboot so once we've gotten a reasonable level of confidence in its security and design because things don't change dramatically generation generation it doesn't need an audit that that aggressive so the foundation will make some form of announcement about where they're at with that second phase of the OTO with route 90 or if they want to go with a different vendor or it's scaled out or scale up but we recommended it we think it's super important that we make sure the software's as high quality as possible and the good news is that now that we have the clean bill of health for the first generation on it we feel very comfortable releasing that software and what a next-generation audit can do is give us more design improvements that can be added in over time as we upgrade to things like Gogan for example we do have an internal audit team at i/o HK they're called B critten they're from a company called B cryptic and we've been actually working with them now for almost two years and they have discovered numerous issues along the way as we've been designing Shelley and Byron every time we for example write the legislature or do some interesting thing we send it their way in our audit Channel and they actually have weekly recorded meetings and they've been doing that for I think for two years with our team and as they discover things they bring them up a lot of them are students graduate students other people in the InfoSec world so they tend to work cyclic with semesters but they've provided a lot of great feedback and ideas and they have certainly helped us think about how we handle writing secure software we also tend to try as much as we can to use industry standard practices and so forth so it's actually been pretty easy to deal with an audit and audit remediation and because our designs are so specific and they're written down at a very ambiguous relay it's easy for the auditor to understand what correct behavior should look like versus what they're seeing with their code so we're quite happy with the relationship with the cryptic and route 9b and we're quite happy to get this monkey off our back and we're we're quite happy to you see that the byron reboot is definitely digesting properly and it's been relatively bug free it's extremely rare in your career when you pull all these different components together to expect them just to work nicely on the first try and actually for the most part it kind of did so I'm very happy about that I'm glad that that validates the design model in the process model that we've been following as I mentioned before we will of course do our monthly town hall with para if you guys didn't catch the last one highly recommended it came out March 31st and the next one will come towards the end of this month and hopefully that one should have a lot of Shelley related news and potentially even dates about certain things and it'll also contain a post-mortem on the buyer of a reboot rollout and all the things that we learned and basically what we got right and what we didn't get so right but every month that workshop is going to continue in town hall is going to continue we're having a lot of productive meetings about governance I just had a meeting about the CIP side of things just a few days ago and we talked about everything from improvement proposals to enhancement proposals to how to structure balance for full tear so what people asked for funding to do things how they can do that and how we're going to practically implement the voltaire protocols and we actually have a full time team working on that under your door and he's he's having a lot of fun with that team so we'll hopefully have some announcements soon prism is coming along pretty well to our identity system so we can't wait to pull that into card all the necessary pieces infrastructure our explorers coming along well as and hopefully we should have the first generation of that Explorer ready to go come as with launch of Shelley so that Explorer covers steak pools and all kinds of cool things so you guys can have a nice beautiful experience of visualizing these things and smart contract development is coming along pretty well we're starting to get to a point where we can really open up flutists and get third-party developers to come in and write applications they can test and really acid test the model of how smart contract development is going to work with with Cardinal so anyway chains are moving and Shelley's coming pretty quickly and it's going to be a little whiplash II for those who are paying attention to it you know every development team is inspired is writing code very quickly if you go to card on Oh updates you can notice that commits are happening on Easter Sunday this is a holiday people aren't supposed to be working but they are because they're very excited about getting this product out and it really is looking like what we expected it to be years ago so that's a really a nice thing and to our critics of course they'll say that we've never really standing for just a wallet we're just a test net but they're starting to look really stupid now especially with the pirate reboot being so incredibly successful with when Shelley comes out there lost all credibility so whenever you see him say that bookmark it and when Shelley's released remind them that they said that and take names because that's our time to shine and it's our time to remind the world that were real and we're here there has been some moving of the chains on the Wikipedia side some community members and independent editors got together and said boy that's not fair that we don't have a Wikipedia page and they've been working on the draft and trying to make sure that that draft adheres to all the Wikipedia standards and we we wish them well and we hope that they manage to be able to get something soon it seems blatantly unfair that for some reason we don't have a page but others do but it looks like that might actually get remediated I've also requested on the science side of things that we start being very aggressive about creating a lot of content for Boris or Boris is exiting the lab and it's entering real life and the time has come to stop thinking about what's the next paper and to fully explain the papers we've already written in a way that people can understand it's outrageous that were not mentioned in more places when we solve most of the major problems if not all of them for proof of steak and cardano's a beneficiary of that incredibly hard scientific work so we're we're definitely going to put some more time into writing content down and discuss common attacks on proof of steak like long range attacks and nothing at stake and grinding attacks steak bleeding these things that other protocols suffer from that we don't because of the design of our boards and it's important that we explain that there's also this concept of a Galit arianism of a system that has exogenous versus endogenous consensus so consensus from external forces their consensus from internal resources and we really do need to talk about that the differences between proof of work and proof of stake and explained that we still have a great degree of a gallant arianism for participation and that this model is a much more stable and sensible model especially as your product becomes more valuable because it improves the security so the value of the token is directly connected to the overall security of the ecosystem this is not the case or approved work they're decoupled from each other so there's a lot of content that needs to be produced and I've been every week now directly involved in marketing meetings talking about the USPS of Cardinal and making sure that we answer fundamental questions for example one question that comes up a lot is why do we do research and I felt it very important that we have a clear concise answer for this I hear a lot of people stumble around and you say well formal methods or peer review or somehow it means its quality or it gives you a guarantee that it works and okay great the reality is that every protocol in distribution has what's called a trade off profile you get X but you give up y so if you're happy with trade-offs and when you think about drugs that's that's a great example of this it's very crystal clear like let's say you get cancer and somebody comes to you and says well I can probably hear your cancer with this new miracle drug but a 20% chance it'll make you blind and you think about it and say well I don't want to die cancer so I guess I'll just take that chance but then the point of research is to mitigate the trade-offs but keep the benefits so you develop a new drug and somehow and it goes from 20% to no chance that's a big improvement similarly if you look at protocol design for cryptocurrencies proof of state proof of work Leger designs voting system smart contracts the state of the art of our industry each and every one of them they give you something but then you have to accept some sort of downside it could be performance it could be security it can be less of participation less the centralization the point of science is to give you the benefits but mute the downsides that's the core reason you do science so with consensus we wanted a system that's very fast very secure and like a cryptocurrency in terms of your ability to participate however you do not give up the downsides of centralization you don't you don't gain the downsides of centralization like what happens with cos you don't gain the downsides of high energy consumption like what you have with Bitcoin and so forth so you know every part of our system the extent of you takes a model polluted marlowe's design and the way the system interfaces with external systems the way we designed our ledger rules the way we design our consensus protocol we looked at the prior trade-offs that they couldn't aetherium had and the industry as a whole suffered from and every protocol we've designed we tried to preserve the best parts of those things and give up the trade-offs of those things as much as we could now not every case where we able to get to a point where we were revolutionary for example with or Boris but in many cases we substantially moved the chains yeah the reason why I mentioned this is because and I made some comments recently and you know the media unfortunately has a habit of doing this I said that cardano's contributions to the space are much more significant and meaningful than bitcoins and of course everybody interpreted that as oh well Charles is saying karna knows better than Bitcoin and it's going to be more valuable than Bitcoin of bitcoins trashing cardano's great and that wasn't the intent the intent was to say that basically the research we've done has created a scientific foundation that was absent with Bitcoin atheria Ripple and every other product they just didn't do what we did and we left behind open source peer-reviewed patent free designs that every single cryptocurrency in the space now can be measured against and can use as a reference point to help them figure out their designs this is not the case with Bitcoin nothing was written down with Bitcoin in a way that made it easy for third party engineers to come in and learn from that outside of just reading the source code and trying to figure out why things were built the way they were built and there were no proofs of why things worked they just seemed to work and maybe they were great maybe they weren't great maybe they would work until they broke but nothing was written down in a replicatable repeatable buildable way with our specifications with the science that we've done now anyone in the world can take that as a foundation and use that and this is something that's universally beneficial throughout the entire cryptocurrency space and this is what I meant when I said that Cardno has made much more significant contributions than Bitcoin has because honestly we have there are over 60 papers now that I which case published with its scientific connections and we've written an enormous amount of code and a lot of specifications our wallet spec for example is a beautiful model for anyone who has a you TXO system for example like Bitcoin to build a wallet for you TXO and you'll know that that wallet you build will not suffer from a lot of common problems that Bitcoin wallets suffer from so this is an example of industry-wide benefit in that research we've done clearly articulates the trade-offs the benefits and what we were trying to optimize around now you may philosophically disagree with assumptions we've made or the how we achieved the centralization or economic incentives or think for example on monetary policy is not right and of course reasonable people can disagree about these things but what we wanted to do was separate the things that were opinion from the things that are just good designs and good and settled science and basically a good approach to designing and building a cryptocurrency and we feel that we've achieved that with the last five years of this project now unfortunately the media doesn't give us that kind of nuance have HSA Charles said X Y Z but I feel I should clarify that and these are the kinds of clarifications and content that I hope will roll out with our new marketing campaign over the next few months so that people who are giving Cardinal a look for the first time ever or a second look after looking at it years ago walking away and coming back can understand what they're actually looking at in what we've actually constructed I feel that we have the best path to scalability of any cryptocurrency I feel that we have the best path to a sustainable network design of any cryptocurrency I feel that we are converging on the best way of upgrading and updating a cryptocurrency I feel that we're converging on the best way of handling voting in a sustainable and fair and high participation way of any cryptocurrency I feel that we have the best model for innovation of any cryptocurrency you do not have to rely on a founder or the brilliance of one particular company what we've done is we've created a decentralized way for universities to participate and do science quickly I mean literally we can solve problems in the streams of months not years to decades so that means that we can constantly have a new flow of innovation and an obvious way of how to integrate that innovation in a sustainable way into Cardinal these are the things that really matter when you say is this thing going to be around in five years 10 years 15 years and is this thing going to behave predictably meaning that cult of personality or founder effect or other things can not come in destroy the whole system 5 years down the road or 10 years down the road and that's essential for fortune 500 participation that's essential to become a foundation for Gov tech that's essential for high finance to get involved because they need to know that they're building on granite not quicksand and everything we do we also Telegraph a long time ahead of time of how we're going to do it which is why it's so puzzling to me why our critics are so they have so much vitriol for example we told everybody this is how the bio reboot is going to work and be rolled out and then we follow that plan and then our critics attacked us as if we didn't tell them the same for Shelly you said that we're gonna roll out Shelly in a systematic way we're going to start with an incentivized test net and that instead of ice test net will allow people to basically get good at the business of staking build relationships build brands build reputation ask many questions about the experience the user interface and other things that we really need to get right if Shelly's to be successful and then it gives us a metric of how to centralize the system in us and you can see those statistics they exist they're there those thick co-operators are there they make videos I tweet the videos those are obvious things then we said we'll do the fire and reboot to make sure we have a proper foundation to put all of these things on and then we'll turn on all the Shelli features that are embedded within that code base and then port people over make sure that it works make sure the rewards ported over and then turn Shelly on we've been very open and public about this plan and people can see significant meaningful progress towards that yet our critics for some reason don't seem to understand any of that so I think that our marketing has to make really exist on two different dimensions one is to make sure that we clearly articulate what we've actually already accomplished and how we think and then two we need to make what we've done as accessible as possible to as many people as possible and be as open and as possible to get as many people into the tent and working with McCann working with April 6 working with our internal teams the foundation team Amer gos team we actually have a pretty good bench of people and there's going to be a lot of content coming soon that I hope will change things the other thing is that we need to make sure that we constantly communicate with the community this is why we're every single month doing our product update I'm got to see if we can do weekly or bi-weekly updates on certain components like Plutus and Daedalus and the wallet back-end I we're trying very very hard to make sure that surrogacy forms so that it's not just us explain but other people can correctly explain it and this means that certain content has to be created like infographics it means that we have to make sure that independent media forms for example a card on effect I would love to see more of that in particular I'd like to see an enterprise oriented card ah no effect specifically for state pools and I'd love to see one specifically for developers that we can get out kind of like a twit TV style Network forming for all things card on oh and see gradually more and more content being made under that umbrella that eventually could be directly funded by the Cardinal blockchain as opposed to the foundation now so a lot of that is coming you in the next few weeks and coming months and hopefully it's going to be able to move the chains and have a dramatic impact on things we've also completely changed the experience of listing of ADA it come middle part of this month the first generation of our new libraries for address D it will be available and those libraries should make it substantially easier for exchanges who care to list ADA to do that and also eventually those libraries will contain a lot of stuff about staking and the litany of other things and this is just really important so that there's a unified experience amongst all operators of ADA that that they can have so it makes it substantially easier for community to form to answer questions in a very open source way it would be a failure if the only way to use the product you have to do one firm or one group of people because of those people become the custodians and then they have dominion over the product it's incredibly important that we build things in a way that there is open and decentralized as possible so people are capable of answering and fixing their own problems a very community driven way it speeds things up it lowers complexity and it forces us to really pay attention to fine details and and get to simplicity and we're pretty happy with the direction things are going and we think that that direction is really going to produce a lot of value overall for people so anyway that's the update not anything revolutionary it's just Byron is being absorbed we're very happy with the metrics we've seen flight candidate is coming next week follow probably by a maenette update for four the classic Daedalus I then will have to figure out one we're going to officially end support for the old SL codebase I'd like to get rid of that as quickly as possible it's junk compared to what we have with the buyer and reboot code I just love this bio review code it's so easy to work with and fix and perform QA on and it's just been great updating it we've done several updates since we released it on the 31st already and we're very happy about those updates as you guys absorb that shellye features will be turned on the first set of shellye features will be a closed test net and we'll invite some state pool operators to that and this is strictly just so that we have a trusted group of people that can provide us really good feedback about things it's kind of like an alpha test and if everything goes really well there then we'll have an open beta for state pool operators all operators and basically we'll get them ported over as quickly as we can I've been asked a lot of questions will this be another incentivized test and the answer is no the reason being is that it's not going to run for a long time this is not something that's going to run for six months it's going to be a considerably shorter period of time and the point of this is configuration it's giving those who have already invested time effort money into getting set up for the itn to have a migration path to make sure what they've built can work in the Haskell world and also make sure that these components are working the way that they we think they are then shortly after that we'll turn on the balance check test then and the point of that is basically to verify that all the Wallet accounting is right because that's our only opportunity to do that and you can do that test net capacity and if everything looks really good there then we'll basically phase out everything and turn on all the Shelly stuff because of the or boards BFT design that we have in reboot we can very safely roll out the network so when we switch to Shelly it'll still run in VFT mode and then epic by epic more and more of the slots will be made by state pools and hopefully because we already have a lot of state clock raters that won't be a super fast process but it has a control mechanism based upon network quality to see how many of those slots are made by we're on a whole blog post in a series of communications about how that rollout is going to look but just like by reboot that Network needs time to absorb all these things but basically we built everything from the hard floor Combinator design to orb or FB FTE to the old SL codebase to the bridges to the new reboot codebase and a way to make this as graceful as possible from the end user so basically if your user experience should be something like downloading a piece of software perhaps recovering your wallet and then you're done that's that's what we're trying to get to and then you're in a position just like with the ITN to be able to delegate your stake and do all these things and then because of the Daedalus flight program it gives us a way of rapidly adding new features like for example ledger support to Daedalus and multi-sig to Daedalus without having these long development pipelines these are things that can be done in weeks in potentially months not months and years but we're really like that we're seeing that we're getting close to also having a regular release calendar where we can just every month give you perhaps at the the product workshop that we do the a calendar for the upcoming month and say these are the releases that are coming the richness of the release notes will increase the richness of the external reports will increase the richness of communication will increase especially in May and we are slated for a massive documentation update hopefully by June so all the old SSL documentation it's already been deprecated will be thrown away and completely new documentation for all the things we've constructed will be turned on including full documentation on how to use all of our API s and libraries if you're a wallet developer I and it'll give you a really good architectural understanding how all components pull together and how the system as a whole is is working so so basically that's where we're at guys when we have a date for Shelley when we actually flipped the switch for the heart Fork we'll try to make our virtual summit the same as that so when we announced the virtual summit that will become Ezard with the launch of Shelley and hopefully we can even launch it at the virtual event so look for that on the horizon as well anyway have a Happy Easter it's a very special day for many people throughout the world and I often look at religious holidays as two lenses for those who are religious it's got that dimension to it but then all these religious holidays are also important opportunities for people to reconnect with friends and family and a time of kovat I know that people are having difficulty with large gatherings but there is no excuse not call your mom and dad there is no excuse not to reconnect with friends and family that perhaps you haven't talked to you in a long time it's a good day to do that Sunday it's not like everybody's got huge things going on most of us are taking this day off so do take that time and that opportunity those are days you can't get back and make sure that your health is good and make sure that your friends are happy and you're happy so thanks for listening as always I appreciate it I'll probably keep the new look for a little while and I know you guys love the beard but it was getting a little crazy there I had the Viking mountain man survivalist beard and we're not quite at that stage yet and I'm very happy with the progress the ecosystem has made and I'm very happy with the fact that we are answering all the commitments that we made a long time ago with professionals on grace dignity and equality so thanks guys for listening and I'll talk to you soon Cheers
