Despite the heavy rain and strong winds throughout Sunday, September 15, 2024, the Cardano Blockchain Meetup #4 in Ho Chi Minh City took place in a warm and emotional atmosphere. Although over 50 people had registered, the unfavorable weather conditions prevented some from attending. However, many members remained determined and overcame the difficulties, with some even traveling over 40 minutes by motorbike to participate in the event. This demonstrates the passion and commitment of the community to Cardano.
The Cardano Meetup proceeded as scheduled, as announced on Luma and the Forum Post, with the following agenda:
- Cardano Monthly Update
- Franken Address - A unique wallet address with multiple utilities
- Minigame - Brain teaser challenge
- Guidance on registering DRep on GovTool and using the DRep Campaign Platform to attract ADA holders
- Networking and connecting
Main Highlights of the Meetup:
- Cardano Monthly Update:
- Mr. Sang from the Vcoincheck Team presented the latest updates and news from the Cardano ecosystem for August. The topics of Doom and Hydra especially attracted a lot of interest from the participants.
- Several questions were discussed in detail:
- How scalable is Hydra, and how does this affect the number of users?
- What is the transaction processing time for Hydra, and how can the system handle millions of transactions in three days?
- How does Hydra’s scalability compare to traditional blockchains, and why is scaling more challenging on blockchains?
- How can DOOM run on Hydra and process transactions after each frame?
- Why isn’t scaling on a blockchain as simple as with Hydra, and what are the main limitations?
- What is the significance of the Doom demo on Hydra for the development of the Cardano Blockchain?
- Franken Address - A Unique Wallet Address with Multiple Utilities:
- Mr. Sang also introduced the concept and use cases of the Franken Address and demonstrated how to create one. Participants were particularly interested in its benefits, such as leveraging delegation rights when ADA is locked in a smart contract, hiding the ADA balance, and separating the wallet for receiving payments and staking rewards.
- The questions surrounding Franken Address included:
- Can three main wallets be linked to a single secondary wallet under one Franken Address?
- If three main wallets are staking in three different pools, how will the rewards of all three pools be automatically transferred to the secondary wallet?
- If three main wallets are staking in the same pool, will the rewards from all three wallets be transferred to the secondary wallet?
- If additional ADA is transferred into a main wallet, will the secondary wallet receive the staking rewards from the increased balance?
- If three main wallets are linked to one secondary wallet, how many Franken Addresses can be created?
- Can a Franken Address be used to connect to the Gov Tool and register DRep while still hiding the main wallet balance?
- Besides the Eternl wallet, does the Franken Address creation feature exist in Yoroi or Lace wallets?
- Minigame - A Fun Challenge:
- Participants engaged in a fun and challenging minigame with various questions testing their knowledge of Cardano. Many received prizes from the organizers, creating a lively and enjoyable atmosphere.
- Guidance on Registering DRep on GovTool and Using the DRep Campaign Platform:
- Ha Nguyen - DRep Pioneer Leader - provided guidance on registering DRep on GovTool and using the DRep Campaign Platform to attract ADA holders. Participants raised questions related to:
- Why is a 500 ADA deposit required to register as a DRep?
- Can an organization register as a DRep?
- Why isn’t the Eternl Beta wallet used for DRep registration on the Gov Tool?
- Can DRep profile information, such as goals and motivations, be edited after inputting it on the Gov Tool and registering DRep?
- Is there a fee for editing profile information?
- How much is the deposit required when submitting a governance action proposal?
- When will the deposit for a governance action proposal be refunded?
- What is the voting period for a governance action proposal?
- How much is the reward for DReps?
- When can ADA holders be called to delegate?
- What governance actions can DReps vote on during this interim period?
- Networking and Connecting:
- Some participants shared ideas on how to deliver Cardano knowledge to the Vietnamese community in a simpler and more concise way using AI technology and sought teammates to help implement these ideas. Others expressed interest in participating in roles such as proposal evaluation and submission for Catalyst Fund 13.
Results and Expectations:
The Cardano Meetup Ho Chi Minh was a success, with enthusiastic participation and lively exchanges from the community. We hope that the next event in Hanoi on September 22nd will also be smooth and exciting.
We sincerely thank Cardano, Catalyst, Whiteboard Cardano Team (Media), and Vcoincheck Team for their support in making this event a success.
Thank you to everyone who participated and continues to support the Cardano Vietnam community.
On behalf of the Organizing Committee,
Ha Nguyen
Cardano Ambassador
Cardano Vietnam Community