Shelley to go live by 4Q18 or 1Q19

ouroboros

#1

Charles confirmed it himself that Ouroboros will likely to go live around 4Q18 or 1Q19 (Fast forward to 43:10) and staking could be around 5%!


#2

#3

He said it himself and I didnt just come up with the figure. Please watch the interview.


#4

I believe you, no problem there. Just pointing out (to anyone interested) that in reality reward percentages are a bit more complex than just a plain number. The calculator also may give you the result of 5%, or 10% or even ~14% - not that I’m arguing that this would be impossible. Charles may say many things, doesn’t mean that we should just blindly follow his oversimplifications.


#5

Thank you for the video …

I normally see those videos until certain point when the interviewer seems that has no idea about what he talking about ( 44:09 min ) just as an example
When he asked get rid from proof of work ( what ??? ) if will be proof of work, proof of stake or combination between the two… its crazy that by now he doesnt get that cardano is POS!!! just asking this to Charles seems to me hugely wrong, i can´t respect those people who interview the CEO of top 10 crypto and ignoring that is proof of stake and they call themselves crypto investing

What wrong with people ?
we really need more rigor …


#6

Yes, at a couple of timeframes you can see Charles mentally facepalming himself as a direct result of the interviewers “clever questions” and comments. :smile:

He should do more AMA with the community, quality of questions was a lot higher, Charles seemed to enjoy himself and didn’t have to hold in any frustrations on those.


#7

The fact that he said somewhere around 5%, makes me believe that they are considering that range ±1. That is very significant compare from his previous statement of 2-3%. I understand that nothing is final yet until white papers are released. But whatever statement that he releases from hereon should be inline with thier recent discussion.


#8

Totally true, and we enjoy as community too!
yet i understand the purpose …


#9

Ok, I finally got around to watch the vid, and, sorry to ruin the idea, but at no point did he mention that staking rewards would be 5% :slight_smile: And this is exactly what I assume you was describing, and at least definitely what people reading the post will think you meant. What Charles sais specifically is:

Question:
“So what’s the inflation rate for ADA? Will it be a capped supply? Is it going to be logarithmic, or declining like bitcoin?”

Chalres’ answer:
“The maximum number of coins is 45 billion, and then it’s just a matter of how quickly do you want to go there, so we’ve been toying with the idea of about 5% inflation rate that monotonically decreases as it gets closer and closer to that 45 billion.”

  1. An inflation of 5% in no way means that staking rewards will be 5% - there are a bit more variables than this. To check this out you can go to the calculator and set "Yearly reserve decrease" at ~11.2%, which would give the supply inflation of about ~5%, and then you can see what actual yearly reward percentage that would bring, even if we don’t change any other parameters:

  1. In reality Charles just a bit incorrectly described the idea of the real logarithmic inflation, which is set at 5% reserve decrease and not 5% raw inflation. This concept is extensively explained on the Formula page of the same calculator and was taken out of the official presentation of the latest staking ideas, and does actually represent the most recent discussions.

The 5% value is actually exactly the one taken as the default in the calculator at the moment, and gives ~2.23% raw inflation first year. Because inflation decreases as we get closer to the 45 billion - Charles was right in this part.

Can you, please, link the source of this statement?

Yes, the problems with this are:

  1. What he says in an informal interview with some two dudes is in no sense a “released statement”, and even less so an “official” one.

  2. He actually said something completely different, as I have pointed out =)


#10

I think he was talking about Shelley more specifically. Ouroboros is live as we speak. I corrected the headline.

Things would have been so much easier if we all agreed about the terms…

  1. “Inflation” implies a return on your holding, which is your base in the calculation.

  2. “Reserve decrease” is a rate by which Cardano reserves decrease each year. It’s base is the outstanding, i.e. un-issued ADA, of around 14BLN. This rate has a diminishing return function on your holdings as each year the reserve (i.e. the base) is reduced and the 5% rate is applied to the new, lower base.


#11

Thanks for clarifying. This is completely different than what was postulated!

Is this an annual release/reserve decrease/“inflation” rate? Is this already live?


#12

All of this is just a best guess (or an expectation) at this point, based on all the info we got from IOHK so far. Yes, the rate is yearly (this is why it’s called "Yearly reserve decrease" :slight_smile:), but actual numbers are yet to be released.


#13

Oh darn. I guess I need to have my glasses checked :nerd_face: Thanks anyways!