Kindle Notes & Highlights
Charles asserts that: Cardano is an “open platform”. Cardano seeks to provide “economic identity”. The lack of economic identity is a problem that affects a large percentage of the world. Cardano aims to handle the problem of economic identity by building a platform that hosts decentralized applications. The applications that are built on Cardano will be able to manage identity, value, and governance for those who use them.
Branded as the “official commercial arm” of Cardano, Emurgo serves as the bridge between Cardano’s blockchain technology and real-world applications.
the more entities there are to validate the truth of a piece of data, the more decentralized the network is and the more the record of transactions can be trusted.
Basically there are 3 characteristics that a blockchain wants to have - decentralization, security, and scalability. While all of these are important to a well functioning blockchain, they are tradeoffs of each other. Only two out of these three characteristics can be maximized at any one time.
Cardano’s engineers focused on security and decentralization first, and are building towards scalability solutions second.
Putting a monetary value at stake instead of scarce physical resources allows the same security protections against malicious actors seeking to subvert the system but does not cost nearly as much in terms of power consumption and computing hardware.
Cardano’s reward infrastructure is set up as follows: Stake pool operators run specialized software on computer servers, forming “stake pools” which act as nodes in the network. Individual ADA holders “delegate” their ADA holdings to stake pools. Stake pools produce blocks in proportion to the amount of ADA that is delegated to them. Stake pools receive rewards in ADA in exchange for producing blocks and keep a portion of those rewards for themselves (known as a stake pool “fee”). After the stake pool collects its fee, the remaining rewards are distributed to all individual ADA holders who
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The Byron era formed the foundation of the network, the Shelley era allowed for decentralization, the Goguen era gave us smart contracts, Basho is concerned with scalability and Voltaire is all about governance.
5 eras of cardsano development
Haskell is not a widely used language, which is why Charles Hoskinson continues to be criticized by the developer community for the choice.
Cardano’s developers are made up of some truly smart people. Academics, researchers, Haskell programmers.
