everybody charles hoskinson here from warm sunny colorado anyway a quick video giving an update about some things going on uh namely uh august and what occurred and as we go to september it's a good song from earth wind fire and beyond uh what's going to be happening uh so august was all about basically handling the release of shelley uh this is completely new software and as much as we can test it there are many consumers and many scenarios and environments that are unique and we couldn't test them so only by releasing it can you actually know enough to be able to get it to a good state and we've accomplished a lot like the release of 1.19 resolve most of the performance issues that people were seeing and that's currently also on flight and there's a lot of little things that we've discovered that we're trying to work through so that we can get this to mainnet for 2.2 so for daedalus mainnet and uh there's been an enormous amount of work on the wallet back end uh basically exchanges got it and they said wow there's a lot of little things we need and that team has been working very diligently what a lot of people understand is that cardano's architecture daedalus actually uses the wallet back end and exchanges also use the wallet back in so as a happy side effect of this architecture what that means is that the performance improvements we're doing for exchanges and the things that we're doing to make their massive wallets with hundreds of thousands of items in the utxo and millions of transactions that's working its way into everyday dataless users so every person who's using our stack is using the same stack sands some custom stuff that exchanges do for their account management and so forth so that means whatever we do here in terms of performance for large-scale wallets you guys are going to get for large-scale wallets as well that's a very powerful thing there's been a boatload of technical debt reduction a lot of people got a chance to rest and recharge a little bit and it put us in a nice position to start talking about gogan and getting prepared for the movement of gogan from the gogan team to the general cardano team and start implementing that so september is going to be the month where we start talking a lot about gogan and uh we'll have a big update towards the end of the month at the product update that we do every month about where when how in the rollout but concisely gogan has really broken into three components in the foreseeable future one are native assets and this is basically making us go from a single asset ledger to a multi-asset ledger and that's a huge upgrade it's very well specified we're slowly but surely working our way through it we're doing proper product management so we have things like acceptance criteria documents and so forth that clearly articulate all the things that have to be done before we consider the feature done so that's been a joy to use that process management then we have something called plutus foundations and this is basically bringing the extended utxo and plutus model into cardano and that means smart contracts can now be run above and beyond just simplistic things but actually fully programmable experience but this is kind of like the the low-level stuff okay so you can write smart contracts but a lot of the batteries included are not in that foundations principally because that's a whole ecosystem play and that ecosystem play is called plutus application framework okay so pluto's application framework is leveraging that there are about 35 years of best practices and knowledge in the haskell ecosystem which is going to work its way into our development experience for flutist applications so there's a long legacy there there's phenomenal tools great qa technology a lot of things that we've learned and the ecosystems learn and we've actually learned from building cardano that can now be leveraged and pulled into uh the pluto's foundations so that'll come as the third part so you kind of have one two three and there's a lot of debates about whether these can be bundled together or they're going to be released as separate hfc events and then this is kind of something that gets layered on through a series of updates but does not necessarily require an hfc event okay so uh once you have these three things we're extremely competitive for d5 there's going to be just a lot of cool stuff there that makes cardano the desired platform for a beautiful d5 portfolio and what we're doing on the commercial side and on the partner development side is we're identifying a collection of applications that can run as d5 foundations so things like stable coins and oracles and dexes and things like that and what we really want to do is make sure that we build those as case studies on how to build them but also valuable assets onto themselves so we're not ready yet to announce that strategy and how that's rolling out who we're working with because there's a lot of commercial stuff under the torrents and there's some separate companies and other such things but there's a web of stuff going on right now that is quite promising okay and in the meanwhile the gogan team is working diligently at all the specs and the other things that they need to do for getting native assets where they need to go getting polluted foundations where they need to go and the blues application framework we're going to actually build with partners so we're going to layer on specification languages and testing frameworks and things like that and that's being built right now but it's being built parallel to the other stream the release of shelley was all about getting the code base that we gave the community to a state where it's very easy for us to start putting gogan stuff into it this is great code it's incredibly high quality but if you noticed we focused on correctness instead of performance so we had to do a lot of work to get the performance but we did it quickly two weeks to get a 50 to 100x improvement that's telling you that we know what we're doing and that uh that we kind of really understand how all these layers of code work and there's a huge amount of work to do on the wall at back end but that team is consistently week by week absorbing it and chipping away at it and adding new functionality and daedalus as a product uh we're adding a lot more resources to that so that we can start rolling out features very rapidly as we go through daedalus we're looking a lot into multisig i'll use teal and we're looking a lot into the hardware wallet center [Music] and a very high portfolio a priority is one to many delegation also known as partial delegation and another very high priority is delegation portfolios so that's a feature that will exist thank you that's a feature that will exist uh for allowing you to delegate to a group of stake pool operators but you can use other people's lists that have been curated by them and i've done some videos on that so multisig the hardware wallet center one-to-many delegation delegation portfolios and of course i'm very keen for uh u2fa and i'm very keen to introduce things like ub keys and other things into the ecosystem alongside the qr code center and i'm very keen to make shielded paper wallets as well with this so there's a huge backlog of work that's there and we're adding more members into that team to accommodate it the great part about daedalus design is under the hood there's a lot of modularity to it so you can actually have separate teams build components and those components can stitch together deadlifts unfortunately has always been a position where most of its performance comes from the node and wallet back end and network stack performance and so people tend to accuse deadlifts of being slow and that's not daedalus itself as an application that's slow it's the stuff that daedalus talks to that is unfortunately not as performant as it really needs to be so we launched an internal effort to create a collection of user experience benchmark suites and those are being built today and throughout september and so forth and that's going to become part of our acceptance test suite to say that performance has to be above certain thresholds and if it's not we don't consider the software done historically we focused on correctness meaning we want to verify it's secure and it works properly and then after we've done that we move on to performance optimization premature performance optimization before you're certain that your stuff works well can lead to introduction of a lot of bugs and security problems and this is why we chose this workflow but now that we have such solid foundations and those foundations are iteratable and they're low technical debt uh the time has come now to really focus on performance and improve that so this is something that you're going to gradually see week by week release by release so every two to four weeks there's going to be a cadence where there's a little bit of performance improvement a little bit of performance improvement and then you just wake up and things are really really nice and the foreseeable future uh but it is a priority now and it's something we think a lot about and we've gotten the point project where we can really start chipping away at that there are some new protocols that we're going to have to design and bring in to really get orders of magnitude improvement above and beyond where we're at but i think most people be pretty happy with where we end up in the next two to three months and there won't be significant complaints and there won't be a situation again like with the launch of shelley where shelley validation took so much more time as i said before you can only do so much so quickly and we prioritize releasing shelley instead of waiting another two to four weeks and delays and these things to get these improvements into place it made a lot more sense just get it out there get the ecosystem going get people decentralized get people making money uh get businesses started uh let's let's do that so there's a huge amount of effort in gogan no one's really sleeping on that they're working very very very hard and there's certainly a huge effort underway to get shelley digested completely for everybody for example bittrex has been a persistent issue principally because they have the largest wallet of anybody and there's a big slowdown when new addresses are created because of the way coin selection works and so this is one of those performance things that requires a lot of deep thought and investigation but once it's resolved it's resolved not only for them but for all future large wallets that exist there were a collection of other bugs that we discovered in that translation because that code is the oldest code it was the old sarah kell code launched in september of 2017 and they never quite got off of that so unfortunately that meant that it took a lot of time to untangle that ball and try to figure out how everything was working properly but we got there and i think we're on a really nice qa cycle and we should be able to fully resolve most of the issues their note is fully synced and working it's just the performance isn't where it needs to be for that to be a production wallet for them so we're solving that for everybody in addition to them so these are the kinds of things that we're digesting and they just take time and partners are also already is thinking about the next stage for example vacuum labs is tendering a deal with us to upgrade the firmware for trezor and ledger we call this the stake pool operators update so there's going to be a bunch of moving pieces for that but i'd like to do tests on the ledger and treasure if it's possible we're still figuring out if that's possible i'd like to do multi-sig pledging i'd like to do multi-delegation uh there's a lot of little things there we're in the middle of negotiations about time horizon and how that's going to work and we're hoping to pull that in as quickly as we can because that will really help improve the security of stake pool operators and the operational side of stake pool operators and at the same time it will reduce their operational burdens meaning that it's much easier to have air gap keys and these things and just life works better you see and this is the kind of feedback that we're getting as we evolve through the next few months we're also thinking very deeply about uh the uh parameters in the system like k and a naught and and so forth uh and of course there's a big community discussion there as well the scientists are looking at that as well so right when one-to-many comes and delegation portfolios come and improvements come on ledger treasure i suspect we'll have a little bit of a shake-up there and that'll really help especially smaller operators but it's nice that people already talking about it we have a lot of opinions so in terms of divisions of time i spend quite a bit of time these days here in the d5 side i spend an enormous amount of time here and we've been talking to pretty much everybody and the advantages we know everybody so it's easy for us to do that we do a lot of competitive analysis and we're trying to get a sense of a great development experience and we're certainly scaling up resources and effort now that we have solid foundations to start deploying these resources and effort on uh but things look quite promising and then i spent a lot of time also on daedalus because this is kind of a red-headed stepchild historically with the project and something that people aren't so happy with and that's a shame and it shouldn't be the case but it is so we'll try to fix that and we're going to do a lot of ui and ux improvements we hired a dedicated user experience expert and he's going to start working really closely with the team to try to improve some rough edges that we've historically had and as i've mentioned we're getting a whole bunch of new centers like hardware wallet centers and the qr code generator you know we're also going to eventually have a voting center so the first iteration of that voting center is going to be on a cell phone app and then later on we're going to add a deadlift center for voting so you're going to use the qr code center to transfer credentials to that voting app in a secure way and that's going to be a cool feature but then the voting center will actually give you a much richer experience than the app does because you have more screen real estate you can do more with that so this is kind of the voltaire thread and that's just starting to wake up september 7th i believe is when submissions for the dc fund can begin uh and people are going to really start talking around fund one has already begun that's a focus group side of things and things look pretty good there so overall lots of stuff is happening and it's happening in parallel a lot of people are waking up every day working really really hard to make sure that we're faster than anyone else in terms of our delivery you know and there are certain things that are frustrating but they're just necessary like the digestion of shelley it's such a significant software release and it's all new code that's never been in market before so the reality is that that code is going to be um you know going to take a little time to set and bake in it's like laying concrete gotta wait for it to dry and harden and that's what we're doing and then meanwhile there's another thread going on saying guys we need smart contracts we want smart contract we have a lot of partners that are really just chomping at the bit to start doing things so there's a huge amount of pressure on multi-asset a huge amount of pressure on pluto's foundations and so forth and also a lot of discussions about dev experience and asset and that stands for developer acquisition collaboration incentive and application deployment and so there's a huge amount of effort that's there as well it's really reflected especially here in that d5 portfolio and the other things that we're thinking about working on meanwhile the dead list team is just scaling and scaling and we're adding and there's just a lot of stuff that's been bottlenecked for a long time because it had bad back end and bad node stuff and now that that's no longer the case they're in a position where they really can run and innovate and there's a huge amount of work on the wall of back end every week they're doing something novel that team has always been given the hardest load because they sit in the middle of everything the adrestia team but they have met that challenge with a lot of dignity courage and of course from a user perspective we care a lot about performance as we do security we're working our way through for example the quant stamp audit a lot of stuff to do there here and there mostly small things but they still take time so new benchmarking suites better end and testing replacing a lot of manual testing we're doing with automation and that's the problem with going with the new software base is that some things that were automated in the old base are not automated in the news set up you have to go do that uh so we're busy we're very very busy on the cardano side more busy today than we've ever been and we're working more in parallel than we've ever been cost is not an issue anywhere i find a place where money can solve the problem meaning i can hire somebody retain an external firm scale up resources i do that because my goal right now is time i i really want to get things done as quickly as we can but still correct and safe and performant with a reasonable user experience uh but uh we're getting it done we're definitely getting it done uh one last thing i mentioned marketing so i said hey we're starting to scale up marketing uh the foundation hired mccann to do their website and to help them with some of the rebranding for cardona and i'd say cardano.org is a good product but you know what we need to do a lot of product marketing for cardona so we have a marketing director coming on board early september and then we're going to really scale up the content side of things for product marketing i see a lot of people asking questions like why is auroboris better than casper or notarized proof of stake or whatever we should answer that and we should have content to answer that and we're trying to make a few deals here and there to get really high quality content made with a great degree of regularity and that high quality content will basically be stuff that you guys can use under creative commons license and repost and send around and that marketing director we're going to talk a lot about making sure that we get a fair shake and we have the right campaign set up this is in addition to the mccann work and the marketing hires that the cardano foundation has done and emergo is also scaling up in a certain respect so now that we're in a much more mature space and we have a lot of releases that are coming marketing has become a much higher priority uh previously it was like well let's wait for the software to get to a certain level let's wait for the experiences to get to a certain level it's kind of counterproductive to have a huge influx of people and then have those people stick around for months and months and months waiting for things to get where they need to go and so i've always said things like rogan for example after gogan because i said well if i go on a show with 20 million people listening and gogan's not out yet it's very counterproductive because those people won't stick around but if it is out and there's lots of cool stuff going on uh then uh that marketing is very well served for our ecosystem uh so marketing is coming and it's coming with full force and september is going to be the first month where we start scaling that and we're going to really see the dividends of that october november and beyond i'm quite excited to see the things we can do especially given that we have such creative people in the organization you may see the iot website for example we have these beautiful animations it would be really cool to do that and bring these things in and marketing is not just about selling it's not about convincing people uh marketing is also about enabling creativity a great example is i've been playing around with animated qr codes and we have this qr code center and i saw a qr code the other day i just absolutely loved so much so i posted on the marketing is coming video uh tweet and uh it's a pac-man with a qr code i think wow that'd be so cool if you with your qr code center could save a digital version of your paper wallet that's encrypted and despite the fact that it's encrypted you still have a gift that has pac-man going or something like that and you can store that in your email or other places that little flair it doesn't seem significant but when you do a lot of it and it's in very different places the product those easter eggs it is a massive differentiator and it's something that just makes people fall in love with the project uh it's not the things you see that make the difference it's the things that you don't tend to notice too much but you're somehow subconsciously aware of that makes all the difference in product differentiation and so the big stuff is happening in the smart contracts and native assets and there's a lot of magic there that's the product of years of development work and research work and great we're very excited about that but we really need to also focus on the little things and the fine details and polish all those things up and make them really special because once you do both of those things together you end up having a much richer ecosystem so the marketing direction i'm looking at is mostly educational in a certain respect and creativity in another respect educational from content and differentiation and clearly articulating explaining why we have done something special we know it internally because we've spent five years working on this and writing papers and writing code but that's not really accessible so we need to make it accessible and then the creativity side is saying how do we harness the fact that we have some of the brightest most magical people who really have great taste and pull that into the products that we build to really take those products to the next level and make people fall in love with them in ways that they really can't with other ecosystems so that's what i mean by marketing is coming and it's a high priority at i o global and we're certainly going to spend the money that we need to spend to to get that done and so anyway that's my update uh for the end of the month uh overall i'm pretty happy with what we've done it was a long road there was so much work to do post shelley and we were kind of at half capacity and at the same time there was no slowdown on the gogan stuff we had to keep that going and keep that drum beating and there was no slow down on any of the application side of things and meanwhile we have to get daedalus ready for a big big update and lots of things to come and meanwhile voltaire is also evolving at a pretty rapid rate we're still focused grouping fun one is almost done and 50 plus people were there lots of ballots and proposals came through but that was a closed focus group and now fund two is coming and that's an open system where every single person in the entire cardano ecosystem can participate and vote with their phone that's the first time ever and after that fund voter registration will change with our hfc event and we'll open up a voting center in daedalus as well so you'll have a cell phone experience and a desktop experience and hopefully we can get your roy on board with that as well so we everybody's kind of uh reading from the same hymn sheet and in the meantime we're also scaling marketing and these other things so 2020 is going to close very strong and 2021 is going to open up and it's going to be a clash of the titans there's a lot of great competitors out there like polka dot and tazos and eos and algorand and certainly f2 may actually somehow wake up and do something and they'd be a great competitor if they ever did if they don't well there's plenty of others and in the war of hearts and minds we think we have a really good strategy and people are going to be really excited that they're building on 35 years of legacy from some of the brightest computer scientists in the world and we just need to make sure that that 35 years a legacy is connected to a great experience and we like the rollout that we're doing and every time we roll these things out you kind of start with the foundations and then you add an ad but you don't regress and you over time make it more usable for example we launched the one to one delegation and now we're moving to one many delegation and delegation portfolios and a much richer delegation experience and that's something that comes in the coming weeks and months similarly you launch with a native asset experience and then very quickly you iterate that experience and in the coming weeks and months you get to a point where it's much more beautiful and all the people that were pioneers are there to help the next wave of people who are less technical and less sophisticated but do want to use that systems for their domain experience so we we're getting into a cadence i think that is very productive for this type of philosophy and mindset and at the same time we don't sacrifice security and soon we won't sacrifice performance and also we have a huge scientific advantage on everyone all these third generation cryptocurrencies are just now launching their versions of proof-of-stake that are somewhat comparable to orbor's pros prows came out in 2017. we have a three-year research advantage on them and we're we're thinking about next-level refinements that they have yet to even consider in their protocol development and similarly we have a much more beautiful way of handling layer two solutions and handling the smart contract deployment scaling especially because we don't have these global accounts that these other systems do this is opaque to the end user and to a lot of people in the space because product marketing hasn't quite gotten themselves where they need to be but they will and that'll be a high priority in the next three to six months is to really make sure that those competitive differences are well understood throughout the space so i hope this update is helpful we're doing a product update today as well with the partner the rest of the gang i'll kind of take you guys through a lot of cool stuff but i i wanted to also release an update that kind of gives some clarity about how the year is organically growing and materializing but it's uh it's a much different era and it's a much different product than it was even just a few months ago uh and i think there's just so much cool stuff coming that you guys are really going to fall in love with it all over again and as we exit 2020 it's gonna and we enter 2021 it's going to be an extremely exciting year 2021 much more so than 2020 and 2020 has already been pretty exciting all right thank you everybody cheers
