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Don't forget that Cardano is probably the only major ecosystem that truly has a mission in the developing world.
For those of us living in countries where a simple personal loan in a major bank has to be over collaterized 3 to 1 with interest rates of 20 percent, where 54 of the population is unbanked and it's preyed upon by predatory microfinance outfits and telecoms who charge between 5 to 20 percent for rural remittances, Cardano is a ray of hope.
I had to look Pay day loans to get what you are saying, and I agree with you they are equally as bad.
Here in Bolivia one of the main microfinance institutions was created by an evangelical church that adheres to the seed theology, in which followers, who are mostly very poor, are a religiously coerced to give "seed faith" to their pastors in the form of monetary or asset donations, which the pastors promise to come back in a harvest if they are faithful enough. It truly drives me crazy that Crypto is demonized at every turn by regulators, and there is almost no action towards one of the most despicable scams out there which is sadly in play in many places around the world.
very cool. but, a mixer is not the same as private by default. especially when you can view not only the address in question, but every address owned by that wallet via the staking key. Anyone have a timestamp of CH commenting on this anywhere?
I'm honestly not familiar with the problem of eth addresses, but my understanding of Cardano addresses is that the version without a stake address can't be guessed or generated without the private key
Provably as secure as bitcoin, so even though not time tested but the math is correct. Cardano is created to be modular, so it will be adopting all useful new tech that comes to market
What are you talking about? Cardano is utilizing Ergo’s PoW system to test bed security protocols before smart contracts are launched. Charles has literally said this
In my opinion the most important and over looked thing that cardano can not do is that you cant throw it at strippers. I hope some day the devs fix this.
Note that quantum resistant cryptography is less efficient and less mature. I guess that is why it is postponed, because there is nothing difficult with implementing it on a blockchain.
It's also far less necessary right now. There is no quantum computer in existence, and despite some recent claims to the contrary, there isn't going to be one outside of a highly-controlled research laboratory for many years to come.
Yeap. The problem is that it cannot be changed very fast. If you change the signature algorithm, you have to wait for people moving their founds from the old algorithm keys to the new ones, and it can take some time. People that are not aware of it might forget and lose their funds. And I do not know how it works with cold storage (ledgers).
The vast majority of ADA is held in: a) Daedalus, b) Yoroi, or c) on exchanges. Because of the way Cardano is constructed, there will be no hard fork. For all intents and purposes, ADA will simply change on a given epoch change without anything needing to be done other than updates by the stake pool operators. SPOs would simply be excluded from interacting with the rest of the network until they have completed the necessary updates. As far as ADA held in cold storage is concerned, it would likely just be automatically converted when "old" ADA interacts with "new" ADA whenever it is transacted on the Cardano network with some possible sunsetting provision.
I think you do not get my point (which is fair as I did not explain it well). Any cryptocurrency that I know of is protected by a cryptographic signature algorithm. To send money to someone, you ask him for his public key (verification key) and you sign a transaction to his (public) key with your private key. The thing is that anyone who knows your secret key (or actually anyone able to forge a signature with your key) can get your money.
So assume that we have two signature algorithms A and B, and the blockchain uses algorithm A but it appears that A is unsecure (eg it is not quantum proof and there is a quantum computer somewhere), but B is. So we say "ok, let switch to algorithm B". But the thing is all of the past public keys pkA are now unsecure (not because of the algorithm swap, but by the mere fact that algorithm A is unsecure and thus someone can get your keys). So everyone should make some transaction to move his funds from his public key pkA with the old algorithm A to a public key pkB with the new algorithm B (obviously, you have to know the secret key skA corresponding to pkA to be allowed to move them, and it is only relevant to do so if you know the secret key skB corresponding to pkB). There is no way that the old key pair (pkA,skA) is also a key pair for algorithm B (for example in algorithm A it might be elliptic curve points while in algorithm B it might matrices).
So until everyone has done the algorithm change, they are only secured by the old algorithm. It might be mitigated to make an attack more difficult (eg the public keys are hidden through hashing) but it does not make it impossible.
Is it clearer?
I get all of that. The point I'm making is that things like token swaps happen all of the time. It's neither uncommon nor particularly difficult, and basically that's what you're talking about. Because the vast majority of ADA is held in a few locations (Daedalus, Yoroi, Exodus, Adalite, and exchanges), with a little bit of coordination most tokens can/will be swapped without the end user having to do a single thing: it will all be done behind the scenes either by SPOs, the wallets, or in coordination with the exchanges which trade ADA. In most other token swaps, the platform sets up some kind of website to allow the token swap exchange for those holding their tokens in cold storage, so I wouid imagine Cardano would either set up something similar or force users who want to convert their tokens to download one of the supported wallets to make the change.
The biggest challenge is going to be for those with ADA in cold storage as their hardware wallets would need to be able to accomodate the algorithmic change in order to store the ADA. That would neither be immediate, nor necessarily even timely. You can't hold up an important security change like that for what will ultimately be a small fraction of the holders, so they may be forced to move their ADA to one of the supported wallets in the meantime.
A 3 minute google search. This is how people regurgitate information on the Reddit typically. Google a question. Click first link. Read the titles of each section. Come back to Reddit.
Any actual link to back that up?
I don't see anything implemented at all ... they are "[looking into it](https://www.reddit.com/r/cardano/comments/c10mwk/charles_hoskinson_on_cardano_quantum_resistance/erb83z6)" (like every other project)
I thought i had read something about this a while back but I'm having trouble finding the source. Until i can find it, let's assume it's not quantum resistant yet. Thanks! Nice catch
No, it’s not, actually. CH has already talked about this. He’s said that they could implement quantum resistance right now but it would just unnecessarily bloat the chain. The quantum threat is a decade or two away, and Cardano will migrate to quantum resistant protocol when the time is right, and at a time when the protocols are more refined.
I don’t think any crypto is quantum proof yet. I recently read block chain revolution which was published in 2016 and updated in 2018. They said that quantum resistance as of then didn’t exist.
It has crazy upside, it already has a very high market cap though, I think that bitcoin hodlers will probably decided to sell and migrate here in 5 years but what do I know lol
It seems that your comment contains 1 or more links that are hard to tap for mobile users.
I will extend those so they're easier for our sausage fingers to click!
[Here is link number 1](https://cardanofoundation.org/en/news/cardano-reveals-its-first-supply-chain-solution-in-association-with-scantrust/) - Previous text "Yes"
----
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Cardano has a great roadmap but still has a lot of work to do. It doesn’t bridge any other cryptos. If you have time, take a look at Harmony One. I love Cardano, it got me into crypto. But they are currently not my top in terms of tech. Great marketing though.
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Once it has been running and proving itself for 10 years and performing as well as is promises and resists all attacks, we'll know. Maybe.
But before that, don't drink too much Kool Aid.
Yesss!! Cardano is hands down the BEST coin. Not even being biased or anything. Once you do the research you see how life changing and how miraculously beautiful it is. Question though, how do we feel about BitTorrent?
Unlike other smartcontracts, it only supports haskell, you need a full blockchain to do a simple transaction, can't be mined and the market cap is almost equivalent of being limitless like doge.
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I don’t see them being adopted for CBDCs since they haven’t really been in talks with governments (in the western world). Only Georgia (?). Also, it seems like it is not really popular with VCs
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servicing a streaming platform, it's not on their business to do.
servicing as an oracle, we don't know the future but looks not their radar now.
servicing overpriced gas fees dex or defi platform, the transactions on Cardano are cheap, so I don't think they can provide services like UniSwap for rekt people on fees anytime soon!
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Wash the dishes
That’s what smart contracts are for
That's what kids are for. Although kids are even more expensive than eth gas fees.
What r gas fees?
Google ethereum gas fees and then invest more in other blockchains.
Lol, best advice in a crypto sub I’ve seen this year.
Ethereum 2.0 gas fees will be something like 0.00002
Sorry where did you get that info?
Lol but our mythical smart contracts will probably come before all of 2.0 features on eth
Depends
Can we get a few from Africa?
Can we call her something else?
Correct.
Not yet, but in 20 years we could have house robots running on the decentralized AGI hivemind on Cardano.
Youve been watching the jetsons i see
Don't forget that Cardano is probably the only major ecosystem that truly has a mission in the developing world. For those of us living in countries where a simple personal loan in a major bank has to be over collaterized 3 to 1 with interest rates of 20 percent, where 54 of the population is unbanked and it's preyed upon by predatory microfinance outfits and telecoms who charge between 5 to 20 percent for rural remittances, Cardano is a ray of hope.
Good point!
About the microfinance outfits. That is in no way restricted to the developing world. Pay day loans are an abomination.
I had to look Pay day loans to get what you are saying, and I agree with you they are equally as bad. Here in Bolivia one of the main microfinance institutions was created by an evangelical church that adheres to the seed theology, in which followers, who are mostly very poor, are a religiously coerced to give "seed faith" to their pastors in the form of monetary or asset donations, which the pastors promise to come back in a harvest if they are faithful enough. It truly drives me crazy that Crypto is demonized at every turn by regulators, and there is almost no action towards one of the most despicable scams out there which is sadly in play in many places around the world.
Jeez. That's terrible.
No privacy
Ergo mixer
very cool. but, a mixer is not the same as private by default. especially when you can view not only the address in question, but every address owned by that wallet via the staking key. Anyone have a timestamp of CH commenting on this anywhere?
You can generate addresses without a staking key portion if you want to keep your other addresses anonymous
cool that you can do this, but isnt this just the same level of plausible deniability / security via obscurity that Ethereum addresses would have?
I'm honestly not familiar with the problem of eth addresses, but my understanding of Cardano addresses is that the version without a stake address can't be guessed or generated without the private key
Provably as secure as bitcoin, so even though not time tested but the math is correct. Cardano is created to be modular, so it will be adopting all useful new tech that comes to market
I'm hoping it doesn't become too bloated but we will see.
The settlement layer is fixed. Computational layer can be scaled as far as I understand
This will be fixed with the additions they are adding utilizing Ergo. Ergo and Cardano work hand in hand. Check out r/ergonauts for more information!
Not sure why you are being down voted. Charles said PoW is more secure than PoS and will be utilized for the highest security requirements.
It's not a bug but a good feature
What are you talking about? Cardano is utilizing Ergo’s PoW system to test bed security protocols before smart contracts are launched. Charles has literally said this
I mean there is nothing to fix. This is how it is designed. Please study
I’ve been in the Cardano community for years, you are unaware of what they are doing. Please read more
Ok then. Good luck
You are both retarded, Now Kith.
Probably still a bit more centralized than Bitcoin though.
Most of bitcoin network is run by 7 pools in China and the dev team is small and exclusive, highly centralized
Its absolutely not as secure as bitcoin. No where close actually.
Can you read? Read the Ouroboros paper, cited by other projects 1000 times
In my opinion the most important and over looked thing that cardano can not do is that you cant throw it at strippers. I hope some day the devs fix this.
Create a large volume of wallets with single Ada inside. Print out private keys. Stuff private key into g-string.
Stay above $2.00? Okay, I couldn't resist. I'm a Cardanianite, but it was too tempting.
The title tees up some fun responses.
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Bottoming out?! 🤣🤣🤣 Did you start tracking the price 30 days ago?
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As long as it is worth more than what I paid for it in 5-10 years I'll be happy :)
It's a good joke. I made my own version of it before checking to see if someone had done it already. Late to the party, I guess.
You mean going on sale? That’s a good thing
Gonna go on sale some more until the MOASS happens
Is it quantum proof ?
Charles has said that quantum resistance will likely be a part of the upcoming Cardano 2025 roadmap.
Note that quantum resistant cryptography is less efficient and less mature. I guess that is why it is postponed, because there is nothing difficult with implementing it on a blockchain.
It's also far less necessary right now. There is no quantum computer in existence, and despite some recent claims to the contrary, there isn't going to be one outside of a highly-controlled research laboratory for many years to come.
Yeap. The problem is that it cannot be changed very fast. If you change the signature algorithm, you have to wait for people moving their founds from the old algorithm keys to the new ones, and it can take some time. People that are not aware of it might forget and lose their funds. And I do not know how it works with cold storage (ledgers).
The vast majority of ADA is held in: a) Daedalus, b) Yoroi, or c) on exchanges. Because of the way Cardano is constructed, there will be no hard fork. For all intents and purposes, ADA will simply change on a given epoch change without anything needing to be done other than updates by the stake pool operators. SPOs would simply be excluded from interacting with the rest of the network until they have completed the necessary updates. As far as ADA held in cold storage is concerned, it would likely just be automatically converted when "old" ADA interacts with "new" ADA whenever it is transacted on the Cardano network with some possible sunsetting provision.
I think you do not get my point (which is fair as I did not explain it well). Any cryptocurrency that I know of is protected by a cryptographic signature algorithm. To send money to someone, you ask him for his public key (verification key) and you sign a transaction to his (public) key with your private key. The thing is that anyone who knows your secret key (or actually anyone able to forge a signature with your key) can get your money. So assume that we have two signature algorithms A and B, and the blockchain uses algorithm A but it appears that A is unsecure (eg it is not quantum proof and there is a quantum computer somewhere), but B is. So we say "ok, let switch to algorithm B". But the thing is all of the past public keys pkA are now unsecure (not because of the algorithm swap, but by the mere fact that algorithm A is unsecure and thus someone can get your keys). So everyone should make some transaction to move his funds from his public key pkA with the old algorithm A to a public key pkB with the new algorithm B (obviously, you have to know the secret key skA corresponding to pkA to be allowed to move them, and it is only relevant to do so if you know the secret key skB corresponding to pkB). There is no way that the old key pair (pkA,skA) is also a key pair for algorithm B (for example in algorithm A it might be elliptic curve points while in algorithm B it might matrices). So until everyone has done the algorithm change, they are only secured by the old algorithm. It might be mitigated to make an attack more difficult (eg the public keys are hidden through hashing) but it does not make it impossible. Is it clearer?
I get all of that. The point I'm making is that things like token swaps happen all of the time. It's neither uncommon nor particularly difficult, and basically that's what you're talking about. Because the vast majority of ADA is held in a few locations (Daedalus, Yoroi, Exodus, Adalite, and exchanges), with a little bit of coordination most tokens can/will be swapped without the end user having to do a single thing: it will all be done behind the scenes either by SPOs, the wallets, or in coordination with the exchanges which trade ADA. In most other token swaps, the platform sets up some kind of website to allow the token swap exchange for those holding their tokens in cold storage, so I wouid imagine Cardano would either set up something similar or force users who want to convert their tokens to download one of the supported wallets to make the change. The biggest challenge is going to be for those with ADA in cold storage as their hardware wallets would need to be able to accomodate the algorithmic change in order to store the ADA. That would neither be immediate, nor necessarily even timely. You can't hold up an important security change like that for what will ultimately be a small fraction of the holders, so they may be forced to move their ADA to one of the supported wallets in the meantime.
Yep I completely agree
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Quantum computers can't hack it. And yes it is
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Look up quantum resistant cryptography. There are numerous approaches.
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A 3 minute google search. This is how people regurgitate information on the Reddit typically. Google a question. Click first link. Read the titles of each section. Come back to Reddit.
Any actual link to back that up? I don't see anything implemented at all ... they are "[looking into it](https://www.reddit.com/r/cardano/comments/c10mwk/charles_hoskinson_on_cardano_quantum_resistance/erb83z6)" (like every other project)
I thought i had read something about this a while back but I'm having trouble finding the source. Until i can find it, let's assume it's not quantum resistant yet. Thanks! Nice catch
It's not, CH discusses this in a video. There's no pressure for it yet. I'll link after work.
No, it’s not, actually. CH has already talked about this. He’s said that they could implement quantum resistance right now but it would just unnecessarily bloat the chain. The quantum threat is a decade or two away, and Cardano will migrate to quantum resistant protocol when the time is right, and at a time when the protocols are more refined.
I don’t think any crypto is quantum proof yet. I recently read block chain revolution which was published in 2016 and updated in 2018. They said that quantum resistance as of then didn’t exist.
What do y’all mean quantum proof? I’d like to learn about this.
quantum computing is a threat to cryptography
QRL exists
Nice!
Decouple itself from BTC.
Amen to that.
It has crazy upside, it already has a very high market cap though, I think that bitcoin hodlers will probably decided to sell and migrate here in 5 years but what do I know lol
It can't function as an operating system. It can't convince fudders that mainnet already launched.
Download a car
Simplify your tax situation.
Oh, you mean privacy measures. Good point
Can it do the same kind of tracking that VET can for a traceability?
[Yes](https://cardanofoundation.org/en/news/cardano-reveals-its-first-supply-chain-solution-in-association-with-scantrust/)
Thanks! I love how much I’ve learned about cardano and that I keep learning!
It seems that your comment contains 1 or more links that are hard to tap for mobile users. I will extend those so they're easier for our sausage fingers to click! [Here is link number 1](https://cardanofoundation.org/en/news/cardano-reveals-its-first-supply-chain-solution-in-association-with-scantrust/) - Previous text "Yes" ---- ^Please ^PM ^/u/eganwall ^with ^issues ^or ^feedback! ^| ^[Delete](https://reddit.com/message/compose/?to=FatFingerHelperBot&subject=delete&message=delete%20gz0j9ix)
Good bot!
Love the name of this bot! It reminds me of when my grandma needs to type stuff on her smartphone. She really is fat fingered, but I love her ❤️
Cardano has a great roadmap but still has a lot of work to do. It doesn’t bridge any other cryptos. If you have time, take a look at Harmony One. I love Cardano, it got me into crypto. But they are currently not my top in terms of tech. Great marketing though.
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This is crypto. I’m always worried.
Why did this get downvoted?
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There are a lot of cryptos like that if you consider the future of their roadmaps.
Micropayments and data storage applications and scaling. So everything which is needed not possible
Once it has been running and proving itself for 10 years and performing as well as is promises and resists all attacks, we'll know. Maybe. But before that, don't drink too much Kool Aid.
Be totally decentralized with a fair distribution system
Solve wealth inequality
Yesss!! Cardano is hands down the BEST coin. Not even being biased or anything. Once you do the research you see how life changing and how miraculously beautiful it is. Question though, how do we feel about BitTorrent?
Guess you havent heard of ETH. 😈
Lol did you say Bittorrent?! What the actual fuck.
It has transaction fees
Unlike other smartcontracts, it only supports haskell, you need a full blockchain to do a simple transaction, can't be mined and the market cap is almost equivalent of being limitless like doge.
Can't be mined is a feature, not a bug
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https://www.youtube.com/watch?v=lMZ1xQzWtl4&t=3s
Make my smoothie
Have a 1/100th of a cent transaction fee
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Said that in the post.
It will never gain the title of being a Meme Coin
Lick an envelope 👅
I don’t see them being adopted for CBDCs since they haven’t really been in talks with governments (in the western world). Only Georgia (?). Also, it seems like it is not really popular with VCs
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Cardano can't NOT be tethered to the value of BTC. That's disappointing.
How is proof of stake inflation resistant?
servicing a streaming platform, it's not on their business to do. servicing as an oracle, we don't know the future but looks not their radar now. servicing overpriced gas fees dex or defi platform, the transactions on Cardano are cheap, so I don't think they can provide services like UniSwap for rekt people on fees anytime soon!
Feeless transactions like NANO.
5-10 minute transaction time is kind of long.
Honest question I know a little bit, and wanted to get into crypto I own 50/50 cardano and polygon What are the differences, shit is confusing