Welcome to the Cardano Community Digest!
Published by the Cardano community team every two weeks, this Digest will provide you with news, updates and events about the project and ecosystem!
Don’t forget to cast your votes for the Cardano Summit Awards. Voting round opened October 27th, and closes November 7th 2022. More information can be found here.
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Focal points of the week
Cardano Community takes the Tokyo Blockchain Expo by Storm
On the 26th October to the 28th October, the Tokyo Blockchain Expo once again took place for the second time this year.
An annual event occurring twice a year, the Tokyo Blockchain Expo is a huge gathering featuring some of the biggest projects and organizations in the blockchain space, with a concentration of movers and shakers within the APAC region.
Thanks to our amazing Japanese community and key members such as @yuta_cryptox @leon_stake_pool, @IOHK_miyatake and @BLUSTYURI1 to name a few, the Japanese Cardano community were able to once again plan, set up and run a successful booth at the EXPO, holding regular speaking sessions on a number of topics such as the foundations of the Cardano blockchain in addition to CNFTs, ATALA PRISM and exciting workings to do with a Cardano Metaverse and a partnership with Kittamu, a tourism body that aims to apply Cardano technology to help authenticate local Japan products such as plum-wine.
For more details on the event, you can head to the official site here (Japanese only).
Minimum Pool Cost - Parameter Change
In the last weeks a new CIP draft (Cardano Improvement Proposal) has been discussed heavily among Cardano community members, primarily via Twitter and the Cardano Forum. In essence, it proposes to reduce the minimum pool cost of 340 ada to 0.
The minimum pool cost is a fixed parameter deducted from the overall ada rewards a stake pool receives if it mints one or many blocks during an epoch, more blocks mean more rewards. If no blocks are minted during an epoch, no minimum pool costs are rewarded to the stake pool operator.
The author of the CIP draft, Robin a.k.a ADARobinHood, argues that the minPoolCost makes popularity the basis for pool desirability, causing traits as pledge and performance to mean little in comparison. The core of his argument is that lower saturated stake pools suffer from the minPoolCost as they are unable to attract delegators as their overall ROA % is lower than higher saturated pools. Why is that? Because smaller saturated pools do not mint many blocks per epoch and with a fixed fee of 340 ada on top, a big chunk of the overall rewards are “eaten” by the minPoolCost.
Others argue that the minPoolCost fee is the only reason lower saturated stake pools can continue their operation, especially in lower-income countries. Without the 340 ada per epoch, many stake pools would be unable to cover their operating costs and make a living by running a stake pool.
Additionally, those opposing this CIP claim that by removing the minPoolCost, delegators will only flock to those stake pools with a 0% margin and 0 minPoolCost, as this would mean a higher ROA. This implies that delegators only care about ROA, which can definitely be discussed. To mitigate the risks of a race to the bottom, Sebastien Guillemot and Bastian_from_SHARE among many others propose that in addition to removing the minPoolCost parameter, a new minimum margin parameter should be added.
Among many comments from individual community members, IOG has released a new blog post discussing staking parameters and network optimization. They have presented three potential scenarios regarding changing k and the minimum fee, each with its pros and cons. We highly recommend reading through this blog post and encourage all interested to joining the forum discussion to read through the brilliant takes from various Cardano community members.
Untold Stories with Charlie Shrem and Frederik Gregaard
In mid-October, Charlie Shrem, one of the pioneers in the blockchain industry, Founder and CEO of BitInstand (2011-2013) and a founding member of the Bitcoin Foundation (2012-2014) held a very interesting video interview with Frederik Gregaard, CEO of the Cardano Foundation. In this video interview, titled “Cardano’s Growing Ecosystem,” among other topics such as the Cardano Blockchain, the role of the Cardano Foundation, Crypto adoption and much more were discussed.
Watch the whole Video on YouTube
Cardano Foundation Metadata Tools Team has developed a decentralized voting application
The Cardano Foundation has been working on a voting app that allows everyone to vote on the Cardano blockchain.
In addition to making sure that this solution works effectively for its initial purpose of voting for the community-chosen speaker and award Summit nominees, the team has also been taking steps toward improving it for future use.
Read more about the Cardano Foundation voting application, called Cardano Ballot, in our recent blog post.
Cardano Foundation Participation at recent events
In the past months we have had quite a bit of community events; from the Token 2049 conference in Singapore to the cNFTcon and WB3X event in Las Vegas, and the RareBloom event in Colorado. These were all great opportunities, not only for projects to showcase what they’re building, but also for community members to finally meet each other in person and connect on a deeper level.
The Cardano Foundation also took part in all three events:
We co-organized the Token 2049 Singapore conference, with the presence of Jeremy Firster.
At cNFTcon both Jeremy Firster and Umar Jan were present on behalf of the Cardano Foundation. Both took time to connect with the community to better understand their needs.
Following the cNFTcon event, the two have moved on to attend the Web3Expo, where Jeremy provided a presentation on Cardano for Enterprise & Supply Chain. To allow several community member to join the event, Cardano Foundation provided free tickets that were raffled via social media.
At the Rare Boom event, Jeremy provided the opening speech. Again both Jeremy and Umar took time to connect with the community and get to know more about their needs.
We are grateful to all organizing parties who helped to put each of these events together.
In the coming weeks, the Cardano Foundation is planning to release a more extensive blog post that will cover all events more in detail.
Ambassador Stories, Journal #32: Stephanie King & Benjamin Braatz
This week, we’re proud to once again present two new Ambassador Stories. This time we bring you the stories of Stephanie King & Benjamin Braatz (also known as HeptaSean). Stephanie has joined the Ambassador ranks as a Content Creator, and Benjamin as a Moderator. Their stories not only give insight into how they contribute to the further advancement of our ecosystem, but also give you a small look into their personal lives. We hope you enjoy reading their stories as much as we did interviewing them.
Other Cardano related News and Media
- Voting for speaker categories is open. Who does the #CardanoCommunity want to hear on stage? 3500 votes cast in only 2 days! Voting for speakers closes October 24, 2022
- Discover how the Cardano Ballot was developed and find out details about this open source solution
- Registrations for the Summit’s community-led events is officially open
- Speaker winners are announced. View all the winners
- Frederik Gregaard fireside chat during Blockchain for Europe Summit 2022 - firseside titled “From open source to open governance”
- Voting for the first even Cardano Summit Awards is now open! Voting closes on November 7
- Third entry in the series “A Spotlight on Stake Pools”: interview with VICE Stake Pool.
Cardano Reddit Top 10 Most Engaged Topics
Below are the most engaging topics on Reddit
- the fuse is lit
- Over 35M ₳ is staked to retired Pools
- ADA holders have control of the Cardano network just like Bitcoin miners
- Cardano Weekly Quiz - Round 7 - 280 ADA for the Winner!
- COPI will be the first BSC token to migrate to Cardano through a bridge!
- Update: I had malware
- MercuryChat.io launches Communities feature. Still very basic functionality but, the team keeps cranking out updates and I like what they are creating on Cardano.
- Why build DeFi on Cardano
- When will Cardanos LACE light wallet be released?
- What’s Coming For Cardano in November
Cardano Forum Top 10 Top Referred Topics
Topics that have received the most clicks from external sources. (last 10 Days)
Cardano Blockchain insights
A cryptographic token that represents a footprint of value defined by the community, market state, or self-governed entity. A token can be fungible (tradable) or non-fungible (unique), and act as a payment unit, reward, trading asset, or information holder.
Recently held Meetups
Other meetups around the world:
|* 08 September 2022||Cardano Meetup Amsterdam. More info|
|* 22 September 2022||Structures of Decentralized Governance and Computing More info|
|* 28-29 September 2022||Token 2049 After Party: Cardano Pool Party in Singapore! More info|
|* 29 September 2022||LATAM Community September Recap. More info|
|* 8-9 October 2022||CNFT Con in Las Vegas. More info|
|* 14-15 October 2022||Rare Bloom event at the Gaylord Rockies, Colorado. More info|
Upcoming Ecosystem (Internal/Public) Events
- 19-21 November 2022 Cardano Summit 2022. More info
Recently held Ambassador Calls
- 7 September 2022 Open Content Creator Call
- 7 September 2022 Open Meetup Organizer Call
- 15 September 2022 Monthly Ambassador Call
- 21 September 2022 Open Moderator Call
- 22 September 2022 Open Translator Call
- 28 September 2022 Open Meetup Organizer Call
- 28 September 2022 Open Content Creator Call
- 12 October 2022 Open Translator Call
- 12 October 2022 Open Moderator Call
- 19 October 2022 Open Content Creator Call
- 19 October 2022 Open Meetup Organizer Call
- 19 October 2022 Monthly Ambassador Call
Bi-weekly CIP editor Meeting on Discord
Are you interested in attending CIP editor meetings? Join the Discord channel to learn more about this interesting community where ideas and recommended changes are all discussed.
How the incentive model works?
Cardano pays staking rewards for service for the protocol. Decentralization and security of the protocol is growing along with the distribution of ADA coins. The higher the value of ADA coins, the more expensive a potential 51% attack will be. Demand for coins increases security. The more distributed ADA coins are among users, the more people will decide the fate of the protocol. The protocol must motivate people to hold coins, so it gives them the opportunity to create passive income.
Decentralized networks are like companies that have revenues and expenses. As we described above, the expenses are related to security and decentralization. Furthermore, there are expenses related to protocol maintenance, innovation, and ecosystem development. Revenues are made up of the monetary reserve, i.e., ADA coins that will be released into circulation in the coming years. In addition, fees collected for services. Once the reserve is depleted, the protocol will depend solely on the fees collected.
Services must be created around the Cardano protocol that will be widely used. This is the only way to create a working econonomy that will ensure the long-term sustainability of the key parameters of the protocol. Source
Spotlight for Community-built Tools
The Developer Portal was created to foster a home for developers who are dedicated to building tools and services on Cardano. The platform allows developers to not only collaborate on projects but also to showcase their works.
The Developer Portal aspires to become a credible source where users can search for tools to fit their needs.
Community projects already running on mainnet are encouraged to add their projects to the Developer Portal.
- RoundTable A open source multi-sig DApp for the cardano blockchain.
- HAZELnet A community integration tool that allows stakepool operators and NFT projects to connect and engage with their audience, verify their delegators and holders, create polls, whitelists and more via Discord, Website, and other social media apps.
- Haltscam Haltscam allows and provides a means of crowd-sourcing risky Cardano addresses, allowing community members to contribute to the database and prevent their fellow adopters from falling victim to scams or solicitation.
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