Latest Cardano ADA News Update, 30th Aug 2024

Episode Transcript

Speaker 1 (00:01):
A Kadano news update to round out your week in
the Kadana ecosystem. And of course, the biggest news story
is the Kadano hard fork. The Chang hard fork will
bring Kadana into the Conway era and bring governance to
the ecosystem. We have a look at a couple of
updates around that. We have news about the Ledgo nanos,
some good news in that matter, and we also have

(00:23):
a look at potential Plutus V three DAPs that are
building for this particular era as well. We have a
lot of new tech that's coming with this particular hard fork,
and DAPs are adapting to it now already. I also
look at the ton outage earlier this week and whether
or not that could happen to us here in Kadano
or that coming right up. Hey everyone, welcome back to

(00:45):
the Learn Cadown podcast on Pete Beewy. If this is
your first time here, considering that thumbs up hit that
subscribed notification, bell I will keep you up to date
with everything that's happening in the Kadana ecosystem. And let's
get into those news updates for this episode, and of course,
the biggest one is the chain hard fork. First of
September at nine forty five pm UTC, we will see

(01:07):
that hard fork switch over and we'll go into this
particular era at the Genesis keys that originally used to
create the Kadano blockchain will become obsolete. They won't be
able to use them, and we won't be able to
withdraw any funds from the Cardano treasury for catalysts or
anything else for that matter, and we will rely on

(01:27):
moving forward with the brand new structure that is being
set up. And Lloyd here put out this brilliant video
from GM Cadano. This is governance Matters Kadano just happens
to be GM as well. He goes through the structure
of what it would look like and what the governance
will look like for the Cadana ecosystem. It's a four

(01:48):
and a half minute video. Highly encourage you guys or
watch that so you have a really good understanding of
what's going to happen, and also give them a follow
on x as well and you'll be kept up to
date with everything around the governance side of things. Lloyd
is very big on the government side, is in all
the special interest working groups and working groups for a Intersect,

(02:12):
so he's definitely highly involved within Intersect at the moment. Now,
this is a really good news post from Ledger and
the team from Ledger. I've been working on upgrading the
Ledger app so that it will work for Kadano governance.
And for a long time, the legend nanos was not
going to be supported. The legendato, this is the the

(02:36):
legend Nano. I've got one of these devices here, this
is the this is super old. Now, this is back
in twenty seventeen when I got that one. So I've
upgraded since. But if you have one of those and
you've been using it, it has a very limited amount
of space on there, and because of that, they couldn't
install the updated app. Now they've worked out a bug

(02:58):
and there was a bug. Yeah, let me have a
look here. What did they do to fix the Ledger
s Wasn't it a space issue? And at ATA says
it was a strange bug with asserts. Actually a pretty
small change in the end, but it freed up so
much space that the full app on the Nanos plus
only needs one hundred and four kilobytes. So the chance

(03:21):
is very high that we can bring back full function
to the Nanos with one of the next releases, not
app splitting in the future, so that is absolutely brilliant.
So that means we can use the Ledger Nanos with
everything in the Governance Era. So I'm super happy with
that because I will be able to use that device
if I need to. So that's really cool. And I

(03:41):
know a lot of people have been asking about this
as well in the comments section of my videos what
they need to do about it. But with this particular update,
we're all ready to go. This is really really good.
So I have another video coming out later today that
I'm recording that will go through the upgrade process of
this Ledge Nanos, this particular one here so that you

(04:03):
can follow along. So if you want to upgrade your device,
you can, and then you're ready for the Conway Era
as well. Okay, cool, awesome. Now this post came out
from Sheldon and Sheldon is the head of Kadona Ecosystems
with Amergo, and he has been working with the team
there for about only about three months now when I've

(04:24):
had my first call with him, and the Amergo team
have been under a lot of pressure at the moment
and criticism from the Kadonah community saying, what are you
guys doing? Are you even doing anything? You have millions
of ADA and you're supposed to be looking after the
commercial side of things, but what are you doing exactly?
It seems like you're not doing anything at all. This

(04:44):
post here is brilliant because it details everything that they
have been working on over the past few months. And
let me just go over the dot points here for
you so you have a bit of an understanding. So
they've been working on the stablecoin USDA. They've been making
for with centralized exchanges says bitget gate Io and GSR.

(05:05):
They've been working on a brand new Candano business development unit,
working on strategic ecosystem incubation partners like Huawei and Tyre.
How do you even say this? Try remay trading. They've
been working on a campaign to make Euroy great again.
They've been doing a lot of development there. They've got

(05:25):
new on ramps, off ramps and everything around it, so
Euroy is getting better every single day. They've been supporting
their friends at Dedium Network and sky Protocol. I had
no idea they were actually involved within those particular launchers,
but DDM and sky Protocol are looking really, really cool.
So it's if you haven't checked out videos I've done,
I'll put links down blow if you. Guys. They've been

(05:47):
working with meme coins, even snack Friend Aida and Charles Huskins.
They've been working on I don't know in what capacity,
but they've been helping the teams out there. They've been
continuing their work with Amergo Africa and eight Diverse, so
all the projects that they've gone through the incubator there
they're still working on and pushing for as well. They've

(06:09):
also been knocking on doors of vcs and spreading the
word about Kadano and its benefits overall, so it's good
to see that someone is pushing the barrier for VC conversations.
They've been taking steps with web free gaming with partners
like Beamable, which is great. They've been working on an
Amergo education course for Aiken. They've been working on improving

(06:32):
interoperability and partner change with no Doo and Partisia, which
is absolutely awesome. I think interoperability is absolutely key at
the moment for Kadano. They've also funded dancing classes for
Patrick at Endmaker. I'm assuming it's more funding for end
Maker in general. The Endmaker doing some cool stuff. Overall,

(06:52):
they got Dow's legalized and deployed in a real way
in Japan with Clarity Doo. That is big. It's amazing.
They' supported various events such as rare Evo that Token
twenty forty nine and also GM Vietnam, so that's their
reach here in Asia, which is absolutely amazing. They've worked

(07:12):
with the Cardano Berlin Hackapon and other events, WebEx Asia
and a Kido and got a brand new members based
organization for Kadano Operational So I knew someone banked rolled
into SECT. They will spend a huge amount of money.
I thought it came from Charles himself, but it seems
a lot of the funding came from AMERGO to get

(07:33):
this all done. They've been helping host Kadano constitutional workshops globally.
They've been a rock and call educational content for Governance
Era and so on and so on. So they have
been doing a lot of things. Now, a lot of
people do criticize Amergo, but they do a lot of work,
and I think where they're lacking is in their communications.

(07:53):
But with these recent new highs that they've done recently,
including Sheldon, who is deeply involved in the condemic community himself.
I think it will really help with a lot of
that communication, getting the word out there about what they're doing.
Hopefully we see more xpaces, more interviews, and everything else
around it to get that word out about the impact

(08:14):
of what Amergo doing there. So that's absolutely awesome to see.
So if you want to follow and learn more about
Emergo's impact what they're doing, follow Sheldon links down blow
for you guys. Now, I do these videos and regular
basis to keep you guys up to date with everything
that's happening. I do all these interviews and I don't
get paid for any of this. All my revenue primarily

(08:35):
comes from the YouTube ads and sell of NFTs. So
if you want to support the channel, you can become
a channel member. You can have a look here. These
are all my fantastic channel members at the moment. You
can subscribe if you have the means to do so,
and it's just a prize of a cup of coffee,
So it's I've kept it as low as possible, so

(08:57):
if you can, if you do have the means, if
you do want to support, you can do so that way,
and it keeps me going, keeps me motivated and keeps
me producing these videos for you guys. If you can't
afford that, that's totally fine. You don't need to. Don't
feel guilty that you can't. But if you can at
least hit that like and subscribe button, it helps with
the algorithm and it helps me get these videos out

(09:19):
there for at the community. Now, with that out of
the way, let's get back to it now with the
chang hard Fook. We have some technical aspects from it.
I've covered this in previous videos links down below for
you guys, but there are technical aspects new primitives that
are coming out with Plutus V three and one deck
that is pioneering and pushing the envelope with what is

(09:40):
being developed and built on candano Is via finance, and
they have an xpace coming up towelve pm UTC on
this second of September that goes through what they've been
building with Plutus VIED three. This is absolutely amazing. There's
a lot of speed optimizations, there's a lot new primitive
that bring in interoperability and cross chain partner chains, you

(10:04):
know all that stuff. So I'm really excited to see
what these guys are building. But this here will go
through what they're doing with Pluto feed three. So I'm
pretty excited to hear what Steven and the team have
to offer there, so please do tune into that one.
I'll do a follow up update so once I know
what they're talking about here, I'll give you guys a
summary as well. But if you want to learn more

(10:27):
about what Plutus v three has to offer, this awesome
article that came out earlier this year by Olga from IOHK.
Ougus has been with iog IOHK for a very long
time now. I've been reading her articles for quite a while.
But it goes through all the advanced primitives, the better
developer ecosystem overall. Let me just zoom in for you

(10:49):
guys so you can see this better on the screen. Now,
if you want to learn more about it, I will
put the links down below to this article here, and
I'll put a link to the video where I go
through everything all the tench call aspects are coming with
the chain hard fork, So do check out that video.
It will go through in detail everything that you need
to know about that. Now, as I mentioned in previous

(11:10):
videos and this one, the Condono treasury will be locked
because the Genesis keys are being become obsolete. They won't
be burnt, I believe at this stage, but they'll be
completely obsolete because the protocol has upgraded and they can't
be used anymore. And that I thought meant that Fund
thirteen of Project Catalysts, the community funding rounds would not

(11:31):
go ahead. But they were smart, they thought about this.
They withdrew this back in Epoch four nine five four
nine six. Let me get the date here, around the
ninth of August, so a little bit earlier than that.
And this was all for one half of Fund twelve
and the other for Fund thirteen, so five million for
each one of those rounds. So they thought ahead and

(11:53):
we threw some funding out for this so they can
keep things going. So I'm excited to hear that. It's
good to know FUN thirteen could still go ahead in
maybe December. I know we're wrapping things up for FUN
twelve at the moment, they're still going through due diligence
and the transaction testing at the moment before the funding

(12:14):
and milestones can actually go ahead. So maybe by mid
September we'll reach that milestone and then we can start
looking October November for Fund thirteen, more proposals can go
out and then our projects can get more funding that way,
So so fun thirteen can go ahead without the need
for more withdrawals from the treasure itself. So that's really

(12:34):
good to hear. I think everyone would be happy to
hear that. Now. Keystone is an absolutely awesome hardware wallet,
completely air gapped. It's one of those wallets that scans
QR codes to transmit that transaction. But at the moment,
they're looking for an ambassador. So if you are in
the Kadano ecosystem, if you know exactly how Kadano works,
you're a strong believer and have an understanding of Orkadana's potential.

(12:56):
You're savvy with hardware wallets, you're active on Twitter or
within the Candnda community, and your passionate about strengthening our
presence that's keysto's presence and connecting deeply with fellow Candina enthusiasts.
Contact the Keystone team here. I absolutely love their product
and you know they made really really good stuff here.
I did an interview with the Keystone team a little

(13:18):
bit earlier this year. I'll put link down below so
you can learn a bit more about their product. But
it's completely open source, the hardware, the firmware, the software,
the whole thing. This is what it looks like here.
That's the Keystone Pro three pro. It's got a fingerprint scanner,
it's got a little camera on there. It's a touchscreen device.
It's absolutely awesome. It's way better, I think than one

(13:38):
of these Ledger devices here. So do check it out.
I think it's absolutely brilliant. And if you want to
become an ambassador for the project, for the Candina side
of things, reach out to them. I think they'll love
to hear from you. Now. This is brand new project
has come on my radar. I've been trying to work
out what they're doing here, and finally they put out
video sink aar. I are doing something really really cool

(14:02):
and innovative in regards to bringing in the AI side,
the ease of use of AI to crypto and DeFi.
So you can type in a prompt say I wanted
to trade my ATA for the next deep in project.
You can type in the prompt and then construct it
for you adapt that you can connect to and do

(14:24):
that particular trade. I think this is absolutely crazy. I
hope it works out really well, but let me just
play this clip for you here that will give you
a little summary of how it works.

Speaker 2 (14:36):
You just need to go to the Sink app and
connect your wallet and once your wallet is connected, express
whatever you want. Let's stick swapping for example, Hey, can
you swap my too? Hig and enter the network will
build the transaction for you and you just need to
sign it and say your wallet and once you sign it,

(14:58):
it will be submitted to the cardinal b and voila,
it's done. You can see the cardinal transaction hash here
on cardinals can with the amount and the tokens will
be sent back to your wallet address. Let's try one
more example. Sell my ten new Pooler tokens to it,

(15:21):
and again the transaction will be built for your query
and you just need to sign it and you can
see these are the nubolet tokens and once you sign it,
the transaction will be submitted again and boom, it's done instantaneously.

Speaker 1 (15:39):
So isn't that crazy? I absolutely love it. If you
want to watch the whole thing again, I'll put a
link down below. Do follow sync ai and what they're doing.
It's it's absolutely amazing the blending of tech that they're
doing here. Now, this is my last news story here,
and this is around ton and the downtime they had
that were down for about seven hours. From what I

(16:00):
could read and gather from all these tweets out there,
it went down twice, once because of a kernel bug
on the operating system that they use, and the other
was because of that dog meme coin that launch. So
the two things that happen at the same time cause
a really long period of outage. But one of the
big things was that the conversation around ton being really

(16:24):
centralized because they managed to coordinate a restart of the
blockchain and that restart allowed them to continue to operate.
And with blockchain, if it's really decentralized, you wouldn't be
able to coordinate a restart like this. But we have
a look at this particular post different synth lover and

(16:44):
there are some metrics and data around the nodes and
validators Forton and at the time of the downtime, they
had three hundred and fifty seven node validators. Now, during
my research for the video, I did check the validate
account and it was down by two hundred validators. So

(17:05):
that's a massive amount. So I think over two hundred
validators were struggling to get their nodes back up and running.
So there are a lot of validators, and I can't
say it's highly centralized, they do have a big set there.
In comparison, the Kadana ecosystem has over three thousand stakepooles
or validators, so that's a lot more, but not all

(17:26):
of them mint blocks, So a lot of them don't
mint blocks, and they're there and just part of the network. Now,
could this ever happened to Kadano though, Could something drastically
happen and the node that we operate and run completely
fail on us and as a result bring down the
Cardano network. Maybe maybe it could happen if a particular

(17:50):
node release goes out there and a lot of the
node operators adopt it and run it, that particularly node
version could cause a section of the validating network to
not function properly. And I have seen this happen before
when a particular node goes out and released and those
particular pools have some operational issues. And I can't remember

(18:14):
what node version it was, but I do recall that happening,
and from that point I stopped upgrading my node version
as soon as something was released, so I would wait
for my own state pool to see if there were
any bugs in that particular node release, and then upgrade
maybe a week afterwards. So that allowed for a little
bit more time in a live environment to see if

(18:35):
anything happened. Now, the other issue here that I'd like
to bring up is that there isn't a diverse set
of different types of nodes within the Cadana ecosystem. Now
I don't mean the hardware or where things are distributed.
That is already in existence. The Cadana nodes are all
over the place using all sorts of different hardware, from

(18:57):
bare metal hardware which is like a computer right next
to me, all the way to cloud infrastructure. So there's
a lot of different diversity in that. But what isn't
diverse is the node software itself. There is only that
main Haskel node that is written and basically everyone uses,
but there isn't a diverse language base of nodes such

(19:18):
as go or Boris, which is still in its embassy,
or Amora, which is the Rusk based version of it.
So we've got one that's written in Haskell, one that
is written in russ which is a more amara Amaru Amaru,
and then we have the GO implementation go or Borris,
so we do need that diversity in those different nodes

(19:42):
and more people building and working on those aspects as well.
So if you ever see one of the projects out
there like this one, am Amaru is supported by the
Kadana Foundation, it's one of those projects that they're helping incubate,
and then the go or Boris team by blink Labs
that one. If you ever se any proposals around that
treasury withdrawals, catalyst funding proposals or whatever it is, please

(20:06):
support them. Please vote for those particular proposals because this
helps the diversification and decentralization of the Cadino nodes so
that stuff like ton going down because of a kernel
bug won't happen to us. The more diversity that we
have in that particular software, the more decentralized we are
as an ecosystem. So this is all very important. So

(20:29):
that's all I have for this particular Condunda news update.
Hopefully you guys got something out of this, and if
you enjoyed it, please consider give me that thumbs up
head subscribe, click that notation bell on your way out,
and I'll see you in the next video.