Cardano | Is it the next revolution in blockchain?

what’s going on everyone my name is Nicolas Merton here at data’ – and today is December 4th of 2017 well folks today we have a very large cryptocurrency project to talk about on the data – channel it’s one that many of you over the past week have gained more and more interest in and as I’ve gotten more and more requests to cover this project I wanted to cover it more myself as they learn more and more over the past week I’ve spent some time extensively researching into the project trying to get a grasp of it and really trying to break down the supposin potential behind the project that a lot of people are getting excited about a lot of people being curious about the price run-up some people are curious about the tech and also the philosophy behind the project and I gotta say folks in short summary I’m optimistic on this one today we’re gonna be talking about Cardno so a lot of you out there have asked you know what card on is all about you want a brief description of it because if any of you have taken the time to look into card I know it’s a very I would say a very ambitious project and another way to put that is a tall stack it’s it has a lot of goals and ambitions but these goals and ambitions come in a streamlined package and they really are considering considering trying to build what’s known as a third generation of crypto currencies so I’m going to break down what that means later on and talk about all the fundamentals of what cardona really is but I got to tell you all it’s an extremely exciting project as someone who spent some time actually you know looking into it and today I hope to give you a nice brief description of my stance on it and some of the things that I find very interesting about the project ok so let’s go ahead and dive in first and foremost into the numbers so we can see here that first and foremost Cardno has a steady valuation it’s ranked in the top 10 of crypto currencies and for its short life card danau has really taken the ranks here at this valuation of course it’s it’s not technically in top 5 yet so I don’t consider it a large cap nonetheless it is on the large and amid caps and over the past few weeks most of this valuation really just kind of flushed in and it’s been holding very steady towards the top it hasn’t been seeing much sell side you can see now that the circulation supplies almost around 26 billion ADA which is the actual currency behind the card ah no blockchain and we can see here that the max supply is going to be 45 billion so with the total supply right now of 31 billion out of the max supply 45 billion looks pretty good to me most cryptocurrency projects sometimes are around a quarter of their max supply and that can be a little bit fishy but I think this is a good you know you have well over almost close to 3/4 of the total circulating supply coming in out of the max supply already so I’m very interested in that and I think that I’m just good the volume checks out so now that we have good good news in the sense of numbers let’s go ahead and dive into card oh no so card ah no itself as many of you might know has not been extensively trying to market itself we see a general trend with icos trying to go out of their way and claiming they’re the next big thing and they’ll go out and you know market everywhere though the y-you know advertising they’ll I know trust me as a youtuber I get requests all the time from projects to cover their project or give them publicity it happens all the time all the time in the space and as much as marketing is important sometimes it’s best to make sure that your project is has such good technology behind it in such good ambitions that it alone is what markets the project and that’s what I find with Cardno and this is again rarely found in crypto currencies in a new space like this where people are out to make a lot of money Cardno is a very ambitious project in an ambitious philosophy behind what they’re trying to build so let’s go ahead let’s run through the description here and I’ll try to break it down so right here on their website the first thing you’ll see it says Cardno is a decentralized public blockchain and cryptocurrency project and it’s fully open source Cardno is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed it is the first blockchain platform to evolve out of a scientific philosophy and a research first driven approach the development team consists of a large global collective of expert engineers and researchers and this is not just some you know out of the water statement that card on is making this is what they’re doing Donau itself at its core really is based around a scientific foundation it believes that you can take you know you can take a lot of scientific applications of computer science Computer Engineering and you can apply that that research basis onto a cryptocurrency project and you know it seems so simple at the end of the day that someone would try to do something like this but really if you look around the cryptocurrency space most people have it I’ll give you you know a little bit of statistics here around 90 to 95 percent of cryptocurrency projects or a ripoff of the Bitcoin source code or the pure coin which is the first proof of state coin source code and it just made small modifications to it so there’s not a crazy amount of innovation in the cryptocurrency space and because of that something like Cardno which has gone out of its ways we’ll take a look at later and taking an academic approach has really set itself apart not to mention you’ll see as the team is there later on is a very very well form team and you have people like Charles who will talk about later on who is an individual who was a part of the original team for aetherium so you’ve got a lot of you know you know team members from a theorem unit it’s not you know it sounds very flashy but Cardno isn’t trying to be flashy it’s really trying to build a project in the ground up that just genuinely gets people interested and there’s a lot of core principles that they’re trying to tackle inside Cardno that make it such an ambitious project so we’ll be diving through a few things throughout the video you have Ouroboros which is they’re aimed objective proof of steak algorithm system that they’re hoping to implement onto card ah no later on which will be a way for people to want to you know help run the network and then you have de Deus I always bad at pronouncing these kind of things but this is their wallet and if you take a look at it later on you’ll see the absolute design is on point it’s not your average cutie wallet they have advanced features inside the wallet and they’re gonna continue to build features on top of the wallet as we’ll see in the timeline okay so why are they building card ah no I’m gonna give you a brief rundown because as I might have said at the beginning of the video if you were to learn all about card I know I know the average individual does not have the time to dive into it it’s a very ambitious project however I’m gonna give you the brief three things that they’re trying to do and this goes back to what I was talking about with it being a third gen crypto if we take a small step through history here there really has been a few major evolutions in crypto currencies first and foremost was first gen which we all know is Bitcoin Bitcoin was a way that we can have a decentralized platform that allowed people to make peer-to-peer transactions however if we really think about it in a conceptual sense in a practicality sense and implementing it on the global stage Bitcoin it can only make simple transactions it’s peer-to-peer it’s you and I making simple transactions a Bitcoin it’s an accounting system it’s very interesting and it was a revolution for the time being however that loan isn’t practical for you know mainstream adoption of crypto currencies or at least in the world of finance and a variety of other sectors and then later on if Furion came along vitalic s– project came along and basically aetherium itself was able to implement smart contracts something that the Bitcoin core team really didn’t want to put on top a Bitcoin at the time and you had a theorem come up out of Rouen it became a multibillion-dollar crypto currency because it gave the ability to peep for people to make different types of applications with smart contracts escrow all kinds of different things like derivatives etc there’s a lot of implementations that you could put within smart contracts and it was a great step into the next revolution of crypto currencies however not only are some of those smart contracts limited you have a few other issues that are still remaining in crypto currencies and this is where third-generation steps in and this is where Kirk tano is trying to fix these issues so what are those issues well we have three major terms then we need to consider scalability interoperability and sustainability and I’m gonna break down those three terms and very simply instead of having to dive through all this kind of you know although their motivation and all these different details and stuff you can look into it if you want later on first and foremost they want to have scalability so scalability is a few different things scalability is being able to scale the blockchain it’s being able to process more and more transactions without violating anything that either disrupts the security of the chain or the inefficiency of the chain if or if it makes it so people can’t you know participate in card oh no because it’s lacking scalability features so they’re maynard major focus is to fix scalability we’ve seen this with Bitcoin and aetherium they cannot scale to the degree that you know world adoption needs you take a look at Visa or MasterCard the transactions that they do are thousands per second Bitcoin network cannot do that right now if theorem cannot do that there is way too much of a demand in the world for a prior kind of almost archaic and old forms of blockchain so Cardno is going to work towards making sure to stay scalable 24/7 continuing to evolve over time we’ll talk about that more continuing to evolve as we go towards the third term the second term is well as interoperability it’s a fancy word for being able to interact and communicate with other blockchains now they’re doing this through a few different technologies like side-chains and other ways that you can do things maybe like atomic swaps for example where you can have communication with different crypto currencies because Cardinal much like the rest of us in the world believe that Bitcoin isn’t going to be the all all being currency Norse aetherium nor is you know dogecoin there’s no one cryptocurrency that’s going to be the winner of them all there is dozens of ERC 20 tokens that are going to be around for quite some time much like there are with original coins that have been built off the Bitcoin source code you know there’s so many different crypto currencies that need to communicate and be able to make transactions with one another card Donna wants to do that it doesn’t want to make card down oh it’s one sold platform and you only use card on o or a da the currency behind card on them the third thing as well is to have sustainability and this is my favorite part of card oh no and I think one of the biggest things that people are looking forward to as we go down the timeline of cardano’s lifespan and that is implementing a system of governance this is extremely important and I in very simple terms I can I can show you just the importance of it take a look back over the past few months and how people have been arguing about what the real Bitcoin is is it Bitcoin or is it Bitcoin cash or how do we implement these soft and hard Forks a lot of people don’t like the idea that most VIPs or Bitcoin improvement proposals are implemented by the miners it’s a very select few people who have the mass majority of the hash rate and because of that they get to make massive decisions on what defines Bitcoin what bitcoin really is a thing of the day and because of that it doesn’t have a true system of governance sure there is that kind of system with a hash rate determines it but it’s not something where people like you and I can have any major say in it so it almost doesn’t feel like a decentralized cryptocurrency well there is no perfect system of governance we all know that however Cardno wants to work towards building a system of governance that can’t engage the mass majority of the community it can allow us to help dictate policies and changes for the Cardinal project and really make it what it’s aiming to be a decentralized currency for all of us and they’re implementing something knows the Treasury later on that’s going to allow them to do this now keep in mind that’s that whole kind of sustainability governance system has not been implemented yet but it’s in the timeline and basically like most projects you need some developers and some like-minded people to start it off and then they’re going to let it free and allow the community to operate under this agreed-upon system of governance on the code or no card on a project so yeah I can ramble on to the extra details here and I highly recommend if you do consider investing into it to read through it see some of the innovations and stuff and I’m gonna point you towards some resources that maybe you’d be a little less intense than all of us and we’ll help you understand it better on as we go through so if we take a look through the card on a road map there’s a few different things first you have byron which was the first implementation the launch of card oh no and as it says here you know this has been in the works for quite some time we’ll learn about an input-output Hong Kong and this is basically the company that has originally founded the card ah no project they’ve been working on this for the past two years and they’ve been working with academic research to deliver on this I’ll hop back here on the timeline in just a second but this is again going back to what I was saying earlier about an academic focus card on Oh like other cryptocurrency projects takes their concepts and ideas and has put them through peer review it’s something that Elise shows a sense of maturity in the crypto space where everyone is just so eager to put things out without you know a concept and giving an e rc 20 token without actually having the tech for it yet or at least testing the technology or having an idea on what that tech can imply you’ll learn that what Cardin is doing is highly mature and it’s respectable to a degree because these are peer reviewed studies that you can go through that are open and out there you can check the technology what they’re trying to do and they’ve done this with a few different things they’ve done it with their proof of stake system that they want to implement they’ve done it with using different things like side-chains for example so you can read through this you can learn a little bit about it this is all research that has buttoned been peer reviewed at university level by people who were expert in this experts in the space of researching these different topics I gotta tell you someone who is a college dropout is someone who you know left University I give high respect to this I think that it’s important to take that kind of academic approach and understanding your code you’re the different types of mathematical principles that you’re trying to apply to your technology it’s very important to have that implemented from the get-go so there aren’t any failures later on inside your protocol so again I recommend you go check through that if you’re really interested in the tech side of crypto but I know most you here for this short summary so so basically they had the main that launched on September 29th of 2017 and they recently implemented Shelley this is one of the many kind of milestones it’s really cool they have this awesome timeline and a lot of the names for the updates and everything are tied towards either scientific figures poets very philosophical individuals it’s really interesting but you can see through they have a very clean you know laid out timeline of both the features that they’ve added as well as the features they’re hoping to implement and some of the kind of bass timeline parts that they’re trying to implement and a lot of those are really interesting so you can go through they have all kinds of resources for the different features I don’t have the time to go through go through all of them but you can check through and they have things like multi signature transactions wallet back in consensus incentives and fees so they’re trying to build ways that really make this sustainable for the long term not to mention I like quantum resistant signatures so that’s important in cryptocurrencies as well I think a lot of people don’t take the concern of you know quantum computing as a something to worry about but it is and again you’ll read through you find so many wonderful resources here not to mention you have you know some team members here you have links to their github you want to look at the actual source code of any given part of the project go ahead and dive into it it’s there for you they’re very very open about what they’re doing it’s all open source you can go take a look at the code it’s not exclusive you can go to the reddit you can go to the forums they have YouTube videos tied towards certain parts of the project and I highly recommend as I’ll talk about later to read through those but they’ll also be working on building things on top of their wallet as well as helping to build a network and set the foundation for it so then when they issue that system of governance it’ll be ready so again you can read through you can see when they have the next plant update to come to the network again delivering things relatively quick they just recently uh played it updated the network and now they’re planning to release the next update and practically 30 days so this is awesome to see that they’re pushing this through and as you read through you can read brief descriptions and they get more into detail about the features that will come in with those as they update the timeline and they have a very active team as we’ll talk about later that you know adds these things but first off I think the next few updates we have to look forward to is the one in 31 days basically they’re going about creating a universal language framework for the core infrastructure of Cardno and future blockchain technologies this is an Gogan III again don’t don’t judge me on the name pronunciation doesn’t it doesn’t prove too much one way or the other I’m terrible names and the real thing nonetheless is what they’re ambitiously to do so once they implement this I know it’s a show for example they’re trying to increase scalability security of the network making sure that the foundation is finite and prepared for later use of the network and later updates on the network and us as well I want you to I want you to keep in mind for those of you out there who are developers this is built mostly on a scale and we’ll learn later on as we talk about what’s known as high assurance code or high surance software is what Cardin is trying to take as an approach for security I know a lot of people are very curious about the security of most blockchain projects not outside of you know messing with transactions but really the security of the network and we’ll learn later on about how how they’re kind of not only taking a scientific approach to everything but also how they can implement high assurance code unless you vault here as well is extra scalability and they’re also going to bring about the sustainability aspect by building the treasury model that will ensure and enable the kind of the expansion of the community allowing people to start voting or building a voting system on the car down own network so again all very exciting stuff if you want to read about some of their concepts ahead of time before implementation about things like Ouroboros or the utilization of side chains go read into these if you’re you’re heavy junkie into this kind of stuff but I ohk input/output Hong Kong which is where the Cardano project was really founded over the past two years has some very interesting figures in it predominantly Charles Hawk Hoskinson so if we go through the team here we can see it not only has Charles spent on the team of input-output Hong Kong is working with the car dollar project he was one of the original team members on the etherium project but along with that you have an extensive team of resources now this is not all just card oh no no this is the input on phone Hong Kong but you have a long list of developers and engineers this is the card ah no project specifically here but even this I mean blows out of the water most different cryptocurrency projects and you can go through a Namek a long list of connected resources of individuals who are all working either in the blockchain space are working heavily and of different technology based projects and to have this kind of network all under one company I mean it’s fantastic not to mention cardano’s team itself is quite expansive so of course as always we couldn’t dive into everyone here but there are some very very accredited individuals here not to mention you’ll find a lot of these individuals I know I watched a video from Duncan for example from the videos that they post card admin does a lot of great videos breaking down all the technical jargon and making it simple to understand for the project and again this is a great article here he actually did a video Duncan was the one who made the video that they have on their YouTube channel talking about hi Sharon Skoda there’s a great article I’ll leave a link down below along with some of these other resources that talks about high assurance code and pretty much a hack proof code where they gave a team of hackers six weeks to try to break into a little bird an unmanned military vehicle that basically they gave them six weeks to try to break into and quite frankly they couldn’t they couldn’t do it and it’s it’s a different type of code than the kind of code you see on you know Facebook or Twitter or any kind of any general website it’s not the same type of code like that high assurance or hack-proof code is code that is really used in situations of a life-or-death it’s the question of you know can someone hack into my helicopter and make me crash or take my helicopter and go shoot someone that’s not what you want so that’s why it’s high assurance code it’s gone through rigorous review by people who are experts in the space it doesn’t make it exactly hack proof but it makes it much much harder to break into and surprisingly many blockchain based projects don’t do this and that’s why you have things like the Dow with aetherium and while you have you know parity for example which I think people should definitely read into these events if they won’t have an understanding of but again it really attests the idea of potentially adding hack proof or high assurance code to a given cryptocurrency projects especially if it’s going to be a global currency or a global technology that people are going to be used it would make sense well oh it does as well a lot of people are interested in the the ada card that’s to be released there or the content card on a debit card I think this is good I think it’s really interesting to see that they’re trying to focus on right at the beginning finding ways that they can actually implement spending ad a or at a at wherever they go I think that’s good in the sense of long term adoption however it’s the question of you know of course as always you know you can make a card pretty much for most of these technologies it’s the question of whether or not someone’s going to adopt it or build the the different systems in place to actually go about using card I know in a retail setting I don’t know I think more of its going towards an online setting and stuff so it makes most of these crypto projects alright as is but again nonetheless very cool and cool to see that they’re thinking about that ahead of time but in summary I know many of you out there like to watch my videos because it is a short summary of things I hope I’ve given you a great idea of what the Cardinal project is all about I hope I’ve been able to break things down to a sense but I will tell you that Charles Hoskinson did a wonderful video it’s about 50 minutes not to mention there’s a few other videos I know this one for example Duncan right here did as well highly recommend you check that out where they talked and breaking down a lot of the concepts and what car Donna’s trying to do and he doesn’t always speak in such a technical sense I love Charles because he’s able not only to have a very high understanding of the traditional flaws of cryptocurrency which we got to be fair there are some it’s not there yet completely but much like the internet wasn’t back a few years ago but he understands things that are very technical sense but at the same time he can take that technical understanding and bring it towards a very easy to comprehend and easy to digest format so that the average individual who isn’t a computer science major who isn’t a computer engineering expert can understand what they’re trying to do at least on a conceptual basis and if you want to get more technical you don’t want to learn about it they have all the resources out there it’s peer reviewed it’s understood it’s reviewed – a sense where you’re not going to worry if this is just another IC o—- or if this is going to be a game changer I can tell you all pretty confident that this is going to be a very big project coming over the next few years and hopefully maybe we can get Charles on I’d love to have Charles on the channel I know I’m probably gonna not sound anywhere close to his intelligent he is or anyone on the card ah no team but I got to say it’s inspiring to see stuff like this because they’ve been working on this project for two years they didn’t rush out an ICO they didn’t rush to market the ICO they didn’t think to come contact YouTube channels like myself I can tell you I don’t remember ever getting contacted by a card ah no they focused on the technology and the technology will speak for itself given time you can go out and rush any given cryptocurrency project and claim you’re gonna be the next big thing it’s another thing to go out and prove it and I give massive props to the car down a team for that they have the team to deliver on it they have the peer-reviewed studies to go with it they have the philosophy to match it so the question is is it the next etherium I know that many people have been asking that I will tell you it’s a very high potential candidate for that it really is because if you go through and understand this folks you’ll understand that the fixes they have or the ideas that they have to fix scalability interoperability as well as sustainability with a system of governance these three things could very well make it the next big project in the space no one else is really doing this no one else in the space so I give them again massive props I’m excited to see what Cardno does and I can’t wait to see what they choose as a system of governance that’s something that’s interested me because I’ve been very frustrated with the lack of consensus with the Bitcoin proposals that have been coming out and seeing where Bitcoin wants to go and this in regard suits protocol so the real question many of you are asking me as a channel of investments a lot of people asking this Nick should I buy card on oh is it the next aetherium guys again we can’t be too sure at these levels now I’m just kidding but here’s the thing with card oh no this is almost a project you don’t want to try to trade I want to emphasize it I really don’t think in my humble opinion you’re gonna want to try to swing trade card on oh yes there will be some volatile run ups and downturns in regards to the fact that it’s still very early on as much as they’ve been working on this for two years implementing all the additional things that they want to implement it’s gonna take time and it’s gonna take them getting their foundation set up so because of that I really don’t you should trade this I believe that we should see the long-term potential in the card ah no if we are going to choose to invest in it my opinion is I’m waiting for it to pull back a little bit it’s had a nice run up I think you could see a tiny bit of a correction but I don’t I have failsafe measures just in case if my theory doesn’t go well so I have a general bi-level I’m hoping to buy around a thousand Satoshi’s maybe a little bit above there get it in a little bit of a discount from where it is right now luckily it’s not fresh all-time highs but I think it could pull back a little bit especially with where Bitcoin is right now I think we’re gonna experience a little bit of a cryptocurrency pullback in the next few days but I am definitely looking at Cardno as being one of my projects to hold long term not touch it not trade it as it is very cheap right now in my personal opinion however if I do not get it around these levels I don’t have it exactly at a thousand Satoshi’s but even if it doesn’t come below a thousand 100 I definitely have my safety measures in place I decided that I’m going to be buying card I know I had 1400 Satoshi’s if that doesn’t work a nice medium channel from where it is right now I am my level where it’s a cup you know I gotta pay a few hundred extra Satoshi she’s big deal I think this can be going places over the next few months no big deal or I can get my nice little discount here we’ll see what happens again it’s not something you can trade too much one it’s been going sideways for the past few days and also this run up I think is happening for a reason and you’re going to see more of these going over the next few months as they continue to develop the project that is if they are successful at it again going back to what I said at the beginning I’ll keep this as the final summary for it it’s a tall stack to take on it’s a very very ambitious project they’re trying to really take on the third generation of crypto currencies but I believe with their team with the peer-reviewed studies they have the ideas and philosophy they have as well as the idea that the user base of the platform should go about helping to decide where this project goes after its foundation has been formed makes me very confident that card on o has a very bright future anyways everyone that’s it for the video thank you all so much for watching if you all have any comments questions or concerns about card on o or any other project please leave it down in the comments down below and I’ll try to get to it or hopefully some of you out there in the community can help answer some of these questions card on is a very ambitious project so I know there’s gonna be a lot of questions tied to it but anyways that’s it for the video thank you all so much for watching and I’ll see you all in the next one stay tuned

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