Cardano Dan's Newsletter - Issue #17
Very BEST Cardano 360 Summary
Welcome to the quick-hitting newsletter about Cardano, Crypto Trading, Blockchain, Monetary Policy, & Data Privacy.
I hope you enjoy this newsletter and it helps you understand why I would say I’m CONVINCED that ADA will moon and Cardano will change the world.
Quote of the Day
“Blockchain and AI are a match made in heaven.”
― Ben Goertzel, Cardano 360
Today’s newsletter is sponsored by Cardano Dan’s Stake Pool & my partner Reliable Staking.
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DevNets & SPO Update
If you’re not familiar with the concept of “Net Promoter Score,” you should become familiar with it. It’s an industry standard for measuring customer satisfaction.
The Cardano team takes their stakeholder satisfaction seriously and for that reason they measure NPS for both DevNet participants and SPOs.
This kind of professional data-driven management of the project is an example of the world class leadership that Cardano has.
Decentralized Exchange Demo
When DEX on Cardano!? SOOONNNN!!!!
Cardano 360 showed off a demo of swapping on Cardano! This was the first ever test Dapp running on Plutus smart contracts and showed a scenario of swapping 100 ADA for 500 AGI!!!
Here’s a screenshot of the user experience.
Development Tools & Partnerships
There were a LOT of updates about Development Tools and Partnerships. This is really boring for non-technical folks. The important takeaway here is that this focus is necessary to grow smart contract development in the Cardano ecosystem. The Cardano team is doing the hard, tough work to build the necessary foundation to have a flourishing ecosystem when Alonzo launches this summer.
$45B are locked in smart contracts and it’s REALLY important that smart contracts be designed with verifiable security and quality. Cardano is working on really important aspects of launching formally verified products on Cardano.
The MONEY Shot - When Alonzo!?
The more expressive a programming language gets, the more things that can go wrong. Cardano is all about bringing the great capabilities that Ethereum brought to fruition with the simplicity that Bitcoin brings with the UTXO model.
Cardano produced the Extended UTXO model - it merges the really good stuff of Bitcoin and the good stuff in Ethereum and results in a model that’s easier to shard, scale, and reason about.
Plutus is the smart contract on top of the Extended UTXO model and it’s being systematically integrated into Cardano itself. Here’s the roadmap that shows that process that’s expected to culminate in an Alonzo launch in late July.
Some important milestones along the way:
A tentative date for the HFC event is expected to be announced at the end of April
Plutus smart contracts will be available on testnets by early May
Code Freeze happens end of June
Wait 4 weeks minimum after that for major partners like Exchanges to upgrade, test, and modernize for Alonzo hard fork
Notably, all testnet smart contract code will be usable day 1 on the Mainnet.
Cardano Decentralization
The Cardano team looks at becoming the most decentralized blockchain as having 3 important legs of a decentralization stool: Network, Block Production, and Governance.
Some important updates were discussed during the 360 show
Block Production - 100% block production by SPOs is coming March 31st!
Network - Peer to Peer roadmap has 5 steps beginning in early Q2
3rd leg of the stool - Governance & Project Catalyst
104 Countries are participating in Catalyst!
There’s enormous growth in participation (over 17,000 participants)
Almost $500M in the Treasury to fund future development.
IMHO - Cardano has VERY strong claims to being the most decentralized blockchain project in all of crypto. Someone could argue, “not yet.” But I think it’s a foregone conclusion that it will be the
Commercial Update
The commercial update included updates form SingularityNET, Wolfram, and ERGO. Since we’ve been focused on AI this week, I’ll provide a little deeper update on SingularityNET.
Ben shared that the success or failure of AI depends on the Governance of this ground-breaking technology and that Cardano provides the best decentralized governance approach and it’s why the AGI team is partnering with Cardano.
Partnership between Singularity and Cardano teams are going great at all levels and everyone is excited about the AGI on Cardano tokens that are coming as part of the Goguen roll-out.
Mastering Cardano is Coming
The definitive book on Cardano is coming from Jim Caldwell, Professor of Computer Science at the University of Wyoming.
This book will help people understand how to interface and interact with the Cardano Blockchain including:
Smart contracts
Protocol
Stake Pools
EUTXO model
Just like Mastering Bitcoin and Ethereum, Cardano will soon have its own counterpart.
Special 360 Closing
Check out this special 360 update closing. It’s almost like I coordinated this week’s newsletters with the Cardano team working on the 360 update…
Fundamental Analysis
With all of these great fundamental updates, it seems a little inappropriate or near-sighted to share technical analysis in this newsletter. Cardano is going to change the world and for that reason, ADA will moon. It’s only a matter of time.
Before You Go
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What do you think? I’d love to hear your thoughts, questions, and feedback below!
This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.
Very nice