After Voltaire the next evolution of Cardano

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original content URL:

https://www.youtube.com/watch?v=_s4OauGIzNg

Executive Summary

This 1-hour 26-minute presentation by Charles Hoskinson outlines the future vision for Cardano, focusing on its evolution beyond the Voltaire era. Hoskinson discusses Cardano’s progress in economic, political, and social systems, emphasizing decentralization, scalability, and integrity. He introduces new concepts like partner chains, the Midnight project, and updates to the Ouroboros protocol. The presentation highlights Cardano’s approach to scientific research, governance, and its potential to revolutionize nation-state operations by 2030, positioning it as a leader in blockchain technology and decentralized governance.

Main Topics

1. [00:00:00] Introduction and Cardano’s seven-year journey

   • Charles Hoskinson introduces the presentation from Argentina
   • Reflects on Cardano’s progress since its inception seven years ago

2. [00:42:00] Economic aspects of Cardano

   • Discussion of Cardano native assets standard launched with Mary hard fork in 2021
   • Explanation of the UTXO model and its advantages
   • Introduction of smart contracts with the Alonzo fork

3. [06:36:00] Political aspects and governance of Cardano

   • Introduction of on-chain governance system
   • Emphasis on effectiveness, efficiency, and integrity in decision-making
   • Discussion of the Catalyst program and its role in funding projects

4. [13:16:00] Social components of Cardano ecosystem

   • Overview of the growing Cardano community and collaborations
   • Mention of scientific collaborations with various universities
   • Introduction of Intersect, a members-based organization for the Cardano ecosystem

5. [16:21:00] Future vision for Cardano and global trends

   • Discussion of the world in 2030, dominated by AI and exponential technologies
   • Challenges of trust in institutions and knowledge
   • Cardano’s role in addressing these global issues

6. [27:26:00] Scalability solutions for Cardano

   • Introduction of Hydra rollups, and partner chains
   • Discussion of Ouroboros Laos, a new consensus protocol
   • Explanation of the 1-minus-delta protocol concept

7. [44:51:00] New node architecture for Cardano

   • Introduction of event-based architecture and microservices
   • Comparison with Hyperledger Fabric’s approach to upgrades
   • Discussion of polyglot capabilities for Cardano’s core infrastructure

8. [50:50:00] Improving Cardano’s expressiveness and development experience

   • Evolution of Plutus and introduction of new programming languages
   • Balance between security and programmability

9. [01:08:53] Introduction of the Midnight project

   • Focus on computational privacy and private smart contracts
   • Explanation of partner chains and their role in extending Cardano’s capabilities

10. [01:16:08] Cardano’s potential impact on nation-states

    • Discussion of the current crisis of trust in institutions
    • Cardano’s role in providing new governance systems and trusted infrastructure
    • Vision for running a nation-state on Cardano by 2030

Main takeaways

1. [00:24:00] Cardano’s three-pronged approach to blockchain innovation

   • Cardano aims to change economic, political, and social systems globally
   • The project focuses on creating a decentralized, secure, and scalable blockchain
   • Cardano native assets and smart contracts have been successfully implemented

2. [06:58:00] Importance of decentralized governance in Cardano

   • On-chain governance is crucial for effective, efficient, and integrity-driven decision-making
   • The Catalyst program has funded over 1,900 projects, demonstrating community-driven development
   • Cardano is moving towards a fully decentralized governance model with the Voltaire era

3. [27:26:00] Scalability solutions for Cardano

   • Hydra, rollups, and partner chains are being developed to increase Cardano’s transaction capacity
   • Ouroboros Laos, a new consensus protocol, aims to achieve optimal performance
   • These solutions are designed to maintain decentralization while improving scalability

4. [44:51:00] New node architecture and development approach

   • Cardano is moving towards an event-based architecture with microservices
   • This new approach will allow for easier upgrades and integration of new features
   • The goal is to create a more flexible and adaptable blockchain infrastructure

5. [01:08:53] The Midnight project and partner chains

   • Midnight focuses on computational privacy and private smart contracts
   • Partner chains will allow Cardano to offer services to other blockchains
   • This approach aims to increase interoperability and extend Cardano’s capabilities

6. [01:16:08] Vision for Cardano’s impact on nation-states

   • Hoskinson believes Cardano could run a nation-state by 2030
   • The project aims to provide trusted infrastructure for voting, money, and identity systems
   • Cardano’s goal is to create a more transparent and accountable governance model

7. [01:21:20] The importance of maintaining principles and decentralization

   • Hoskinson emphasizes the need to stay true to the original goals of cryptocurrencies
   • The project aims to create a system that benefits society rather than centralized entities
   • Cardano’s constitution and on-chain governance are designed to protect user rights and freedoms

Notable Statistics

1. [02:58:00] Cardano native assets

   • Over 8 million assets have been issued on Cardano
   • 1,900 projects have been launched using Cardano native assets

2. [12:53:00] Cardano ecosystem growth

   • 168 scientific collaborators are working on Cardano
   • Thousands of developers and hundreds of companies are involved in the ecosystem

3. [12:57:00] Cardano treasury

   • The on-chain treasury contains 1.5 billion ADA
   • At the all-time high, the treasury was worth about $4.5 billion

4. [39:10:00] Hydra scalability demonstration

   • A demo of the video game Doom running on Hydra achieved 90 million transactions in one day
   • This is more transactions than most blockchains process in an entire year

Call to Action Items

1. [01:21:20] Participate in Cardano’s governance

   • Get involved in the upcoming constitutional convention
   • Take part in the referendum on Cardano’s roadmap

2. [01:23:36] Join the Cardano ecosystem

   • Become part of the “swarm” working on Cardano’s development
   • Contribute to workshops and discussions about Cardano’s future

3. [01:24:42] Support Cardano’s vision for changing the world

   • Help build a system that can run a nation-state by 2030
   • Work towards creating a more decentralized and fair digital infrastructure

4. [01:25:57] Collaborate with other blockchain projects

   • Recognize the common goal of fighting centralization
   • Work together to create a better future and prevent the dystopian scenario of 2030

Related Notes

Voltaire - Cardano Governance Era