Cardano news: Key takeaways from Charles Hoskinson's appearance on the Crypto Crow

Cardano news: Key takeaways from Charles Hoskinson's appearance on the Crypto Crow

By The Fruitful Knight | In the zone | 25 Nov 2020


Yesterday Charles Hoskinson guested the Crypto Crow Youtube channel for a live discussion about all sorts of things. Even though Charles had just finished a 22 hour work shift dealing with his many projects, and the host for the show was a bit drunk, it was an interesting 2 hour live stream.

For those curious about it but without the time to spare, here are some key takeaways from the show:

 

There are more than 250 people working around the Cardano project, only half work with the code itself while the others are tasked with jobs regarding things such as research and commercial endeavors.

 

Hoskinson's efforts are spread around the globe, while the civil war in Ethiopia has delayed the closing of a deal with the government there there is a project in Wyoming where 1600 cows are traceable on a blockchain, a feat expected to be increased to a few hundred thousand by the end part of this year, and a technology that will eventually encompass all the sheep in Canada!

 

Charles Hoskinson also claimed that game developing on the Cardano blockchain should be expected in the future, saying:

 

"Video game stuff on cardano should be lot of fun to play around with."

 

It turns out Charles Hokinson was much of a gamer in his youth and have now been buying the intellectual properties of games he played as a kid and is going to make remakes off them. For example: Legends of valor of which he owns the IP.

 

He also speculates that a decentralized mmorpg should be quite possible to build in the future, a genre of games he is familiar with having had as much as 8 accounts on EVE Online which he ran macros on to mine for a resource named ice. It was something of an addiction and he admits that he obviously didn't follow the user agreements for the game, using all those bots, but he was so enthralled by the idea of maximizing his ice mining. When he finally quit the game the price of ice increased by 20 % due to the sudden drop in supply.

 

The conversation gets derailed further from cryptocurrencies, going into the absurdity of current politics and the origin and response to the world wide pandemic.

 

Once the show returns to the world of crypto Charles expresses his doubt for bitcoin long term, since it doesn't scale. With Cardano there is a flat power consumption no matter the amount of users, only requiring 2 kilowatts of power for the whole Cardano network. A trivial amount, whereas Bitcoin need more power than all the the power used by Switzerland, and if it goes to a trillion USD it will need more energy than Canada. All the while still only being able to do 7 transactions per second.

 

The Cardano project started out with a base layer capable of 150 TPS and the current protocol is now on 1000 TPS. Their serious approach, using peer-reviewed white papers and a slow but steady pace have earned them recognition from a bunch of universities all around the world. They are committed to build a solid scaleable foundation.

 

Charles claims that his team, while taking a slow rout, will be much more fit to deal with challenges faced by Bitcoin and even Ethereum. Those blockchains have grown such large user bases together with bad governance that they are doomed to split the community again and again.

Meanwhile Charles promises that there will never be a split of the cardano project, because of its governance. And the project sure do have some lofty goals, that of enabling trust between peoples everywhere through helping everyone with transparent governance. A goal that sounds like it is in the center of the Cardano project. They wish to solve a problem plaguing the world:

 

"We have a deficit of trust"

 

Getting everyone to be able to play by the same rules. The ada coin may very well increase in value but Carles is obviously in it for something more than that, his economic advice to the viewer was surprisingly to invest in collectible card games, as he bragged about owning a old Black Lotus from MTG.

 

The show: https://www.youtube.com/watch?v=z3s6olBfbfA&ab_channel=CryptoCrow


The Fruitful Knight
The Fruitful Knight

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In the zone
In the zone

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