14.07.2019 - Brief Update on Cardano from Charles Hoskinson

In the latest Cardano Update video from Charles Hoskinson, we get a concise summary of some of the things going on in the project.

Cardano: Haskell Node

  • Charles was shown a demo on Friday which went through the latest on logging, reporting, the network protocol, the consensus protocol and the scenario with many nodes running together
  • The IOHK team is moving rapidly towards replacing all the old legacy code and putting the new Haskell client into production
  • the Haskell wallet backend has been coupled up with the Jormungandr rust node
  • additionally, there will be a very stable Haskell node coming soon – the integration work on this will start after July 19th
  • there is ongoing technical debt reduction and cleaning up
  • As a summary, in a few weeks, IOHK should be cutting a stable Byron node for testnet. From there, the team will begin a very fast integration of the Haskell wallet backend into that Byron node. And then, integration to Daedalus will begin. This work means they will be able to 100% replace all of the legacy code and have a new fresh client.


  • the latest version will be shipping with 1.6
  • the new version will have lots of new GUI features
  • many features came from listening to the community feedback which the IOHK Support Desk helped collect
  • tentative shipping looks to be early August/late July
  • the release will depend on how long it takes to get through QA
  • but you can expect to see 50-60 new things
  • here, Charles also mentions that the BFT hardfork will be happening soon

Shelley Testnet

  • the Rust Shelley testnet has been a great experience
  • every week, the team has been cutting a new release
  • from the community, we’ve received lots of feedback
  • and positively, the velocity and momentum doesn’t look like its going to let up
  • Last Friday, we saw the release of Jormungandr 0.3 – this version fixed bugs and added a few new features
  • the Shelley testnet team are thinking of forming an SDK for people to be able to build with the Rust self node testnet
  • Phase 2 is about connecting the network and progress here is looking good
  • as mentioned above, the Haskell self-node testnet is also coming and the community will be able to see differences between the two
  • For those who want to follow the progress, there are weekly reports posted here in the Forum, as well as our very active Telegram group with over 2,200 members. Many of these community members are actively participating and have built the self node and have helped the IOHK team with their helpful feeback
  • David Esser, Cardano product manager, will also be setting up regular communication with the community every 4-6 weeks to share progress updates and an AMA
  • the Github Repo is also another place you can watch for progress updates

Turning Specs into Code

  • Charles shares that IOHK has brought a professional economist on board who is working on several different projects including Cardano
  • She will provide an independent review of the incentives scheme
  • the third phase of the Shelley rollout is the Incentives System and after the network is set, the system will need to have the right incentives
  • IOHK have produced their opinion on how this should work in the formal specifications, but the time has come for professional, academic review and for community review
  • generally these reviews take 3-6 weeks
  • there will also be a rapid process of turning Shelley rules from the formal specs, which are already written in the reference code, into the actual production code. This process will be fun to follow and watch

Science and Research

  • on the science side, the team has been prepping Ouroboros Hydra, Crysinous and Chronos for submission at upcoming conferences
  • they should have the preliminary design of Hydra by September
  • Hydra is the capstone or final component of the very long stream of research under Ouroboros
  • it is the most meaningful and significant as that’s where we shard
  • it provides scalable design that we can use for the foreseeable future and it will inherit all of the advancements from the prior papers (such as decoupling cloud, not having to bootstrap from a checkpoint and sidechains protocols, and more)
  • there was a rewrite of the original Ouroboros whitepaper which was released on July 5th. This was a product of 2 years’ worth of work and if you really want to get on board and understand Ouroboros, check it out here
  • the IOHK research team will be doing similar rewrites with other papers
  • there’s been ongoing work in other research areas such as: multiparty computation with a recently published paper on zero knowledge proofs called Sonics, private computation, more scalable sidechains and NIPoPoWs
  • an official canonical Cardano whitepaper has also been planned
  • currently there are over 40 papers, lots of documentation and a philosophical paper called Why Cardano, but the new whitepaper will take summaries of all these different threads, along with a summary on things we want to accomplish on the accounting side and aggregate all into something like a traditional whitepaper that you expect for a cryptocurrency
  • this work will begin later on this year and the process will be supervised by Dr. Jamie Gabbay
  • there’s no set release date as of yet but be sure to look out for it

Cardano Foundation

  • at the Foundation, a new director, Hinrich Pfeifer was appointed
  • he comes from UBS and has a long background in law and in mergers and acquisitions
  • he will focus on operations, leadership and community
  • and will work to execute the Foundation’s missions and goals
  • he understands the need for building a diverse board and for the need for more transparency
  • he’s started 2 weeks ago and is getting acquainted with the project, but moving forward, you’ll be able to reach out to him

Lots of Great Projects

  • as you can already see, there are a lot of things happening every week
  • Emurgo launched Yoroi 1.8 recently
  • and with IOHK, lots of progress is being made in Mongolia, Ethiopia and Georgia
  • there are ongoing negotiations with a company that shall remain nameless for now, that wants to deploy on Cardano and is in the anti-counterfeit realm
  • there will be announcements on these as and when they make sense
  • major updates are coming soon with Plutus
  • both Plutus and Marlowe are looking good as a programming language and the teams have received great feedback from workshop
  • because of this, it looks like Goguen is on schedule
  • in Wyoming, Charles will attend a Hackathon where Plutus and Marlowe workshops will happen
  • a Plutus ebook was also recently published on Amazon, and will also soon be released on LeanPub
  • all of this marks the steady drumbeat of getting functional programmers into our ecosystem and have them start building interesting things from issuing own currencies to building cool Dapps

Hardwork is required to do great things

  • Charles closes off the video update by sharing this insight
  • we are really starting to see the output of this hardwork and we are seeing more and more people join our ecosystem who are able to install and run things
  • the teams are cutting releases all the time
  • and we are turning great research into great code to give to a great community
  • our project has opened up a 2-way communication relationship, especially with the latest Shelley testnet, and we are learning so many things from all of you which in turn allows rapid iterations as a result. And that’s how a project should be run!

Good speaker, I still give him benefit of doubt. Hopefully something unique will come out from Cardano technology, so far, the only unique things what I see, are this retarded names for some projects/protocols …


WOW! What an amazing summary!
I think we should start bringing things like this to the mass public.

There is still so many to learn of this great project and only way indeed is through good information and transparency.

If it’s not posted yet on Twitter, Instagram or Reddit then I’ll get that done right now.


Maki always makes good summaries :slight_smile: Really useful.


Great update. Looking forward to the Cardano Foundation executive leadership team describing the supporting priorities for the five major goals of the foundation. Specifically, I hope that one of the foundation priorities is getting :ada: listed on Coinbase or Gemini to help stabilize and appreciate the value of the platform. Getting listed on a major US exchange would fall under two of the CF’s goals as stated on the official website.

The website does a great job of listing the goals of “Driving Adoption of Cardano” and “Facilitating Partnerships.”

As reminder here are the stated CF goals:

  • Driving Adoption of Cardano
  • Shape Legislation and Commercial Standards
  • Growing the Global Cardano Community
  • Ensuring Stakeholder Accountability
  • Facilitating Partnerships
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What? Wait the names are what?

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It is not rocket science to compare Cardano with peers and asses what was delivered as promised and when. If you are pleased with progress - go ahead develop your micro-payment dapp in the meantime, while waiting, wonder what Jormungandr is about.

<< What? Wait the names are what? >>

atcalypso is trolling us.

I am simply trying to understand big hype, with what exactly ? Sorry to say but so far, I see nothing exceptional with Cardano, Lets see what future is going to bring, hope it goes well for this coin.

It’s still a work in progress. Wait until it goes mainnet.

Big Hype? Huh? All the excitment that surrounds Cardano has not come from Hype, if you thought that it is hyped cause people are talking about it and it is getting noticed, that is from the organic growth of a science founded protocol, what else would you expect?? A protocol founded in the recognized Education Institutions of the world developing strong credibility is not hype, this is strictly a culmination of all the work done to release Shelley as the closest protocol to decentralization as is possible with proven research that gives it a foundation that has undergone scrutiny by the experts in the field it falls under.
There is no hype…
What you see is what you get…
If you cannot see it is founded in Science it most likely is not for you.


Don’t know what does this mean ? Does that imply that other coins are exactly the opposite or they are doing nothing? Maybe they are non-scientifically inorganic ? wake up, everyone nowadays does similar type of development in this “ecosystem”. Winner will be unique in something , ether in business or in tech approach.

which protocols you are referring to ? PoS is not invented by Cardano, smart contract platform - not first in that department either. Please give credit where credit is due.
Development is not finished yet - lets see how far cardano gets and with what exactly.

So ? My fear is that yes one may develop fully decentralised platform , but so what if real life needs/requirements of practical usage are not met? Listen more carefully what your crypto guru CF has to say about it and about eth2.0.

Exactly and currently I see nothing exceptionally better than average alt coin.

Everything you are seeing involving Cardano in the news is coming from Organic growth, level headed Investor’s/speculators can see that Science is involved in the production of the protocol, its observable at this point that its not just some entrepreneur trying to get rich like so many ICO’s we saw in the past, this protocol is not going to work unless the science is correct, if the research and development cannot be done within the realms of Computer Science it just will not work, luckily the research is done - the programming based on the research is coming right behind it.

Not my position here and wayy above my head, I do remember Charles giving credit to Algorand in one of his many video’s, I doubt these guy’s care who learns what from each other when they are operating in the scientific community and publishing the work they do for all to see, its no secret that developers of Cardano Hope to inspire a better world through their work, its been said if developers can learn from the work the researchers put into the Cardano project and do a better job at it then it’s a good thing, and I support them for that - proprietary solutions that solve world problem’s should always allow other’s to build on the idea to make the world a better place - unless someone wishes to be stinking fnnn rich they would share the idea’s they have that make the world better.

In my book if they move beyond today they have done their job, bitcoin missed the mark , nobody else has worked so damn hard on a decentralized ecosystem that will allow the world to operate on it, but then I am just a fan - what do I know right?

What is your idea of practical usage? I continually think of this, you wanna buy the proverbial coffee?
Or do you want to record major financial transactions that cannot be disputed - immutable transactions, I suppose someone could say they are sh!!# but really when you put them on-chain on a platform that is founded and developed in the latest Science on the matter how the heck is someone going to argue with the latest approach that is proven by Science? You lose me on this one…


200 people at IOHK. Nothing more than a nerd circle jerk. ‘I am so excited’ says the man. Nerds cerebrating and congratulating themselves within their intellectually superior monastery and disdaining altogether the maudlin considerations of commerce. This is the same as academics lauding each other for their studies of the flatworm. No one on the street gives a hoot and their lives will not change. 200 people at IOHK.

Can’t agree more.

Not everyone is excited about the same things, just like not everyone likes the same music or has the same food taste… :man_shrugging: And that’s fine…however,…

…if it wasn’t for them ‘lauding’ their research now and in days past, we’d be living in a completely different world.
A lot of ppl tend to forget or realize that “those nerds” created and are still creating standards, research and daily life electronics you and I use. Where would we be without them in today’s day and age?

Flatworm research is interesting, because it teaches us about how organism thrived, lived, reproduced and evolved, leading to further research and discoveries, and maybe even medical treatments and so on.

Thanks for bringing this up actually, it helps make ppl (including myself) realize what a wonderful world it would be if more people ‘gave more hoots’ to science and technology. :100: