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 uh released soon and we covered each and every aspect of the product and uh it was really just a lot of fun and you know what october is going to be even more action-packed so this is uh this is the uh icing on the cake you know 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 uh 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 uh improve all the performance issues that people were having and get everything back uh 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 uh you know it's uh it's a lot there's a lot to think about and um 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 uh 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 uh i'd like to manage my ada with uh with daedalus um so there's uh 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 uh now it is and that's just great you know and it's just great to have commercial conversations too uh you know 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 uh 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 you know i just wanted to make a video and just kind of shoot the [ __ ] and use a little bit about uh all of the uh the things that have been accomplished and to also take the time to thank the team you know uh they just keep chipping away at these things and they keep working hard boy it is really showing off now uh the consensus redux paper is also out if you guys missed that uh 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 uh 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 uh and uh we're starting to talk around what 2021 is going to look like and you know 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 uh so we spent years of research and then years of engineering and we said somewhere in 2020 we'll start the commercialization and you know the project is really going to start waking up and actually we were pretty right in that estimate uh you know 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 uh so rob will be able to start talking the product updates pretty soon like door is is pretty amazing you know so all the things we thought could be are actually becoming are happening and that's that's cool that makes me happy you know and as we looked at 2021 uh this is about evolution of the platform as a consequence of the use of the platform you know 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 you know 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 you know whoever has expressed any interest or is considering or you know 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 uh you know 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 uh 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 you know 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 uh so much and continues to invest so much you know 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 um 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 you know 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 you know 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 you know uh we think a lot about you know 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 uh 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 you know 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 like 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 uh 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 you know 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 like 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 you know 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 uh from what we've done with prism where we make identity a first class citizen and there's great standards like the universal wallet standard we see at the w3c and so forth that we are competitive for and when we talk about regulatory realities like 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 uh the most curious thing is this is the first year of my life that adam back the ceo of blockstream is actively attacking me uh 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 uh 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 you know they say oh well you know 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 ah 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 1.6 million times more power efficient that's scary it's very scary so it actually gives me a lot of encouragement you know we're getting people migrating over we have a very bright future and we kind of have a natural resting point where we can all take a break as a community and ask ourselves well what do we want the future to be you know i built cardano to be an entry point to the concept of economic identity in the developing world and the ultimate platform to remove commercial friction in the developed world you know the concept of economic identity to me is saying hey i want to be able to get a bank account i want to be able to do business online i want to be able to get a credit card i want to be able to get a loan i want to be able to get insurance policy i want to be able to get an education these are things that we all take for granted in the developing world and the develop in the developed world in the developing world they're not self-evident it's very hard and the people get these things are the exceptions to the rule they won the genetic lottery they were born to the right family or they were very lucky but it's not the standard and so we say well if cardano is to be successful as a platform it ought to be able to do that for them and in the coming months we have some really cool projects that we're starting to work on that i think are showcases and what we mean by economic identity don't listen to me see the things that we do see the people that we're working with and what we actually accomplish over an arc of time with them and then on the commercial friction side that's all about saying hey we all need to work together in a modern society in a modern environment a global economy we all have to be together if you're a ford and you make cars do you think they make every piece that goes into that car do you think they own every distribution point every mechanic all that no there's hundreds if not thousands of distinct actors and entities that have to come together to give you that mustang to get it into your driveway and if any one of them screws it up the product doesn't ship properly or it has a poor outcome for the customer what do you think the cost is to orchestrate all of that especially when it goes wrong the part that people misunderstand about blockchains in business is it's not about being a database it's about being a relationship and trust engine it is the connecting tissue that puts all of these different entities together with a logic that holds them accountable for doing the things they commit and having immutability auditability and time stamping and oversight in that business logic and when we talk about a hyper connected world ask yourself this if you get sick and you're abroad how do you get your medical records to that doctor abroad if that's a hard problem then we have a problem with society in general and it is a hard problem so what's the solution you need a blockchain and we designed cardano with a very particular view that you can do that at some point that's how we would like to evolve the platform so the next five years when we looked at 2025 from 2021's vantage the discussion we're going to be having is let's really dig into commercial friction and economic identity and let's really talk about what do we need to build to realize the ultimate platform for these things the last five years were about giving us the right to have that dream that ambition and that question and to put us into the top ten and to get us to a point where we were competitive with the rest of the cryptocurrencies and we are but i'm not content with that i have never been content with saying we did something cool from a scientific side or were in the top 10 you know and be like charlie lee with litecoin and say okay mission accomplished go do something else no the definition of success for me is let's get to a billion people let's go change the world and that's what the next five years are about is having that conversation not by ourselves not in a laboratory not not you know with engineers in a room and saying well you know what do you think no it's having the conversation with all of you and we'll present just like you guys are right now with idea scale uh your ideas our ideas and we'll sort it out as a community together some of it is about cleaning up some things that we'd like to clean up and performance improvements and these things some of it's about extending new capabilities some of that is about hardening security against submerging threats like quantum computers and these things which are not a problem today but will be a problem in 10 to 20 years uh some of it is about exploring completely new avenues of science that have never been explored before and if we get it right we get exponential new capabilities and wow factors that just blow your mind and so forth so it's like any good story it has some twists and turns and some uh real magic surprises along the way and it has a journey that you go on and i look to 2021 and i say boy that journey is going to be fun and it's going to be exciting and it's going to be powerful for all of us together and i know exactly where i'd like to go with it my company and what we want to do we're a mission oriented organization at the end of the day and we wake up and say are the things that we are doing contributing to the growth of economic identity in the world with principles or not it's just that simple it's always been that way we needed to get to a point where we had the platforms necessary to build on to ensure that and there's a lot more to do above and beyond even what cardona could accomplish but at the end of the day we never forgot that principle and so when we look at deals i say how do we do these deals some cases we have to solve huge technological problems like how do you get all this stuff to work offline when people don't have internet that's a tough one we have some ideas about it but at the end of the day it's going to consume a lot of time of my life but it's a life well spent because if we get it right millions of people if not billions will live life better that's what cardano has been about that's what we're trying to accomplish here and you know what we went from an idea to having a fighting chance at that future in less than five years that's a job well done in a certain respect so uh this is going to be a fun year to close out and uh the next quarter it's a little bit of an overflow for things that we would have liked to have gotten done this year and you know we'll clean it up and then uh i'm real excited about where 2021 is going to go you know so i just wanted to make a video and tell you guys all of that and also thank you guys and say that our spirits and morale and mood has never been higher and our excitement has never been higher as a project all facets of the project from the foundation to mergo to the rank and file people and there's a little bit of friction here and there always is because people are people society society it's uh how it works but all things considered every week we see more progress and we keep coming along and we are able to accommodate ever more complex work as we keep chipping away and as we keep doing these things and i have never had more fun maybe i'll start losing some weight regrowing my hair and not looking so old being old man and who knows all right guys thank you so much for listening just uh some brief thoughts and uh hopefully i can convey the hope that i have and the overall mirth of the day october is going to be a fun month and this is going to close out a very fun year cheers
