That transaction could be a lot of stuff. It could be like, hey, I want to move money, okay, so an asset. That could be something like using a smart contract. It could be something like I want to vote. It could be something like I want to make or register some certificate, okay, etc. There are many, many different use cases for Bob. So, when you talk about scalability, really what you're talking about is you're talking about a bunch of different properties.
We are among the most cited and respected research groups in the world. When you look at the raw citation count, thousands and thousands of citations for things like parallel chains and Ouroboros and all of the different papers, Ledger Redux, etc., that have been written to talk about how one would go about putting a protocol together that moves the trade-off window.
The basic idea is you establish a technical baseline showing you know how to read and actually work on the code, you establish a baseline for how everybody works together in the system, and then you establish a baseline for how Cardano works under the hood. Network protocol, extended UTXO, how Plutus works, how Ouroboros works, all the APIs etc etc. So, basically these type of things will get you up to speed as a core dev. So, if they are designed correctly, you should be in the position and demonstrate enough technical skill that you should deserve credentials.
It's a lot of work and to bring all these different people and they have working groups for different concepts like the core node, scalability, things like smart contracts, identity etcetera, etcetera. Lot an enormous lift. So much work has to be done. But as it moves in that direction, you can see a single concise website. And you're moving from left to right. Right. And the community is deciding the cards just like with HYDRA that go in there and every day you come back and week by week, by week, things get better, faster, cheaper.
So, are they working on DAGs directed acyclic graphs? You betcha. Are they working on Gateway program 2.00? God yes. In some labs somewhere, some way there is a guy who's, like, I want to talk to DMT aliens. It's actually a thing. SSo, does it mean the project is great or the technique is great?
OK, from Tom Mara, can you talk about ADA and ETC and have some plans you have with interaction between the two. ETC has been a very frustrating project for me. We as a company invested a lot of time, effort, money, brand and frankly goodwill into trying to build up the ETC ecosystem.
We hired community managers, podcasters, developers. I went to many events. We always spoke positively of the ecosystem. And our hope was that at some point, reasonable minds would prevail and that the ETC community would understand that to survive, it must innovate.
...you at least have a hope to do something interesting. So, my first argument was - we as ecosystems need to embrace the treasury model. Here's what happened. We published the spec. We did a year's worth of research. Spent a lot of money and time and effort on it. Hit pieces were written about me and my company. ETC dev said never going to happen.
But I I will warn any cryptocurrency. There are over 1000 viable cryptocurrencies floating around the marketplace, many with lots of money. Lots of philosophy and lots of adherence. No one has to use your cryptocurrency. No one is entitled to anything and a year or two everything can change. Go to coinmarketcap from 2011, 2012, 1013, 2014, 2015, 2016, 2017 and look who was in the top 15, and look who is in the top 15 now.
And I just click a button and suddenly I have my wallet back. Great. But wait, a minute. There's also an ETC wallet, and there's also now Kaleidoscope running as dapp. Well, that's really cool. Well, how do we accommodate?
Various group or ETC Lab or any development grant.
So, at the moment we've made nothing from participating in ETC.
Unfortunately, ETC dev and others were very much against the funding of Treasury, some incredibly harsh statements were written, and those statements were endorsed or casually accepted by people from ETC dev. Ironically ETC deb, apparently is shutting its doors because it hasn't been able to pay its bills, as predicted.
When will, ETC have that little wallet? (Tangem)
I wish I knew. I mean it it technically it wouldn't be hard at all for them to support ETC. It's just there hasn't been any demand and you have to make a deal with them.
In addition to that, we'd like to set up a podcast where we run it maybe once to twice a week, similar in format to the let's Talk Ethereum podcast, let's talk, ETC Podcast at Christian Severino runs, but given the scope and scale of Cardano we'd like that podcast to be run by more than a single host.
There's not a master slave relationship. It's a firewall relationship, meaning that it's easy to move assets to and from. On the 1st generation of sidechains we launch, will be custom tailored for K-EVM and IELE, as this is for interoperability with those smart contract paradigms, but later versions will include more generalities, so we can wire our system together with things like ETC and Ethereum and future versions of other protocols or potentially even Bitcoin, depending upon where their upgrade path sits and your cryptocurrency as well, just follow an open standard.
And we felt morally obligated to provide an alternative experience if if, for whatever reason, we just can't get daedalus the work, looking at the thousands of logs we've gotten, the indication is that usually people who are having trouble with daedalus working either exist in areas where the network conditions are pretty sketchy and difficult, or they exist in areas where their computers are pretty old.
Any thoughts on the ETC Summit?
A lot of fun, you know, ETC.
So of all the experiences I've had, the ETC definitely feels like 2011 Bitcoin all over again and that.
Now that Ethereum Classic has a good foothold will IOHK continue to support ETC development? That's a good question. So, you know, when ETC first came out, I wanted to prove a point, that it is immoral when you advertise something for an ICO to then turn tail and completely do the opposite because of legal inconvenience.
Microsoft released a project called Project Bletchley, a kind of blockchain-as-a-service project. There's a host of things you could imagine, like consensus-as-a-service or storage-as-a-service. I've always felt this was a good direction for Lisk to go into. That's the direction that EOS has been pursuing, and if they follow it, I think Lisk will have a lot of utility and value.
So, as it stands right now, what we believe the best option is to take the Mantis client that we've constructed for Ethereum Classic ETC and to make the virtual machine component of the Mantis client pluggable.