What will happened to cardano once IOHK contract is finish?


#1

Have some curiosity and my questions are below.

  1. If IOHK will not renew the contract what will happened to cardano?

  2. What will happened to the developers? Are they going back to IOHK even Duncan couts?

  3. I checked cardano foundation its all just marketing people on the list? Are they the only one left once split?

  4. If cardano and iohk did not split and continue the contract, Charles said that it take resources to manage the team. Does it mean cardano foundation need to pay IOHK after 2020 if conttact still continues?

I know theres a built in governance but those built in goverance wint cover those thing i guess. SOMEONE NEEDS TO BE IN CHARGE AND ASK THE CIMMUNITY ON WHAT TO DO.

or will it be like EOS once mainet is launch thats it. See you later by the way Darren aounds like in an interview.

Hope i get an answer from IOHK team. Thanks


#2

Charles has said that IOHK will put it up for a vote on the Cardano Blockchain as to whether the community would like to have their contract extended. I’m assuming part of that vote would include sending X amount of the ADA from the treasury to IOHK as funds. I would actually think that they governance funds DO cover these kinds of costs.

So it’s more up to the community than IOHK.

Also, sorry to be nitpicky but the Cardano Mainnet has already launched and the team is still around, so no it won’t and isn’t like EOS


#3

Hello, @jon-oh! Thank you for the question.

IOHK will not renew the contract, since Cardano Foundation will not technically be the owner of the network. Users of the system will use built-in governance system to hold a massive vote on which company takes the development from there. IOHK will be one of the contenders, but so is probably the Runtime Verification, and maybe bunch of other companies. We still have two years before that and Cardano is basically half-way from the crib right now.

All developers working on the project now including Duncan Couts are already a part of the IOHK, so they don’t have to go back to it. They are working on Cardano as one of the IOHK’s projects, and will work on something else, if IOHK don’t keep working on Cardano.

UPD: If IOHK does not get voted in as next supporter for the System, Duncan or any other current Cardano developer may decide to submit his own proposal to the Cardano treasury with his ideas and development plans, and people will have the chance to hire him to perform the proposed improvement and to pay him from the treasury.

The role of Cardano Foundation in the life of the Cardano ecosystem is to “standardise, protect and promote the Cardano Protocol technology”. They specialise on marketing, education, legal work, and general promotion. They have specific role in the whole enterprise, and they are doing their part excellently. You can find more info about the CF role here: https://cardanofoundation.org/foundation/

They are not “the only one left” when developers are switched.

It takes resources to manage the team in any case. Cardano Foundation has hired IOHK company to perform a specific development task, and paid them money for it. Afaik, the whole deal states that after 2020 Cardano Foundation does not have actual legal ownership over the Cardano ecosystem, they will be the owners of the software, that they hired IOHK to build. UPD: I have realised that this is not true, since the software is open-source and free. Cardano Foundation will not be legal owner of neither network, nor software. They will continue to have their own role in the life of the system and to do it wonderfully.

Users of the network will have to pay IOHK from treasury if they vote for them to continue development. Or users will have to pay any other company that they have voted in instead of IOHK. No serious software development and research company will support a project like this just for giggles. It’s a serious task, and it gotta be a serious company.

The governance is built specifically to cover those thing.

People needs to be in charge. That is one of the fundamental principles on which the Cardano is created.

UPD: depending on the state of the Cardano system in 2020 there might even be no point for people to hire long-term “supporter” of the system. There just might be a bunch of small proposals from different companies and teams, each doing a small thing, and receiving a moderate treasury payment for it. The whole question of a single “development company” behind the project will have to be rethinked.

P.S. please, don’t yell =)

As @ThePatient pointed out - the Cardano main-net is up-n-running since September 2017. And there are many more things to be released and launched, until IOHK is done with their contract. You may monitor the whole plan here: https://cardanoroadmap.com/


#4

Interesting, that how money ppl are not able to get their head around of these kinds of centralization bullshits.
Maybe the future generations… sometimes in the far-far future, as it takes several thousands of years to biologically evolve (keep in mind that only population evolve and not individuals).:slight_smile:


#5

hmm, ok. It means after the iohk contract cardano will have no developer and other things. i know there is a governance but whats the point of governance if the team who built the system is not involved. loosing a single developer in a project is a big deal. Imagine if a wholde dev team is gone. looks like at the end all ADA holders will be the loosers and the people who will really earn big time is the IOHK coz they have a big percentage of ADA. very interesting…


#6

Well no, it means iohk will get a new contract, or someone else will.

Looks like you would be better off buying EOS where there is no treasury with Dan as your dictator :slight_smile:. To each his own i guess.


#7

im actually double thinking if i will keep buying more cardano, imagine how much ada iohk is holding and imagine if they are not the one who will continue it. that would be a massive sell off. dont know, theres only 2 years and the systen itself is not yet done. Im interested also on how much they will charge for a 5 year contract. coz it seems iohk will make billions in cardano.


#8

i was turned off on eos because darren said that when mainet is launched thats it. its up to the community. and darren doeant want to be in charge on eos. i actually like now Vitalik style of ruling. i dont have eos or eth but i like how vitalik manage the ethereum. i think maybe if they have a voting system for somethings that is quite need voting it would be good rather than you all can vote but no one will be in charge and all dev will leave and the company or developer who will take over need to start from the beginning learning the system and everything.

but yeah, just quite concerned because i really like how charles run the cardano and want him to run it for a lifetime. if we can have a voting foe a lifetime rather than 5 years it will give pwace of mind for inveators.


#9

If loosing a single developer is a big deal for a serious project - that project is developed in an unprofessional manner and not sustainable in time. That is a fact. One developer should mean nothing for a project. In open-source - one company should mean nothing for a project. IOHK is just a contractor - they are showing great deal of professionalism and may be considered by community to be hired for any further improvements.

But IOHK is not Cardano, and vice versa.

IOHK will not be winners, unless they produce a great system that will make their ADA valuable, nah?

They will, if the system is successful, which would mean that they have done their job perfectly.

I think it would be rational to find a project that suits your expectations better. Cardano is literally build specifically as an implementation of liquid democracy. If you feel much more comfortable to invest your money in a person, rather than in a project - Cardano will not be of much interest for you, cuz Cardano will not be owned by a person or a company.

It is important to feel an alignment of interests with something that you put an investment in - so it’s literally would be better to just accept that Cardano may not share or reflect your interests, and find a person or a company that will make you feel safe about the investment.


#10

IOHK only have about 8% of total (so far) ADA, and with minting enabled their total share will get lower with each day. A part of the ADA owned by IOHK is spent as vesting bonuses for sub-contractors like Serokell and Runtime Verification.

If they produce a successful system - 8% of “sell-off” is nothing a system cannot handle. Even assuming an extremely improbable case in which ALL the owners of “IOHK’s” ADA (many separate people) will want to sell it all at once.


#11

jon-oh: The capital formation plan, and IOHK’s willingness to accept ADA for services rendered, positions IOHK with a justifiably large investment in ADA.

They are taking a huge risk. And therefore should be well rewarded.

For me, one of the strong points of the Cardano effort was the thought given to on-going development. This is a huge issue as projects mature.

Our challenge is educating the voters of the importance of continuity over time. If one follows the Weekly Technical Reports, and now more importantly, reads and understands the recently released Cardano Audit Report, one will begin to understand the complexity of this project.

To shift control of the ongoing development and testing would require a significant education process for the new developers and related support team. That will be spendy in time and money; likely lead to buggy roll-outs as they gain their footing; expose Cardano to potentially miss expansion opportunities; and create negative press to overcome.

IOHK is doing the heavy lifting. You and I have thrown a few speculative dollars on the table. I suspect they will have a lot more to lose than either you or I. They have taken a far greater risk. The upside is IOHK’s ADA holdings will become a major reason they will want to stay involved in the project.

“Generational wealth” and all that - tends to keep people focused on what is important.


#12

I think this is too early to tell. we will get more clarity on this as we move closer.

Assumning IOHK reaches all significant milestones it is only logical that Cardano becomes more independent. I could definately also see IOHK take one or multiple shorter contracts depending on need. From IOHK perspective most of their business is revolving the cardano
Project so depending on how their back-log develops they might be hungry for extensions if they truly are building a legitimate business within crypto.

Despite being “just a contract” we have to face that the people in IOHK generally associated with Cardano as its founders so it definately matters what and how it will happen.

In terms of inventives and sell-offs i would be more concerned (post 2020) for the japenese masterminds behind the whole project. I assume they are there. Only they know how much of the total supply they really sit on and their real motives. For now i say look for action behind words of Emurgo and plans for actual governance.


#13

The Key to Having a Healthy Decentralized System is, keeping unhealthy manipulators out. Trust has a component of faith attached to it. I understand that you have faith in Charles H. I do too! Charles is the main reason I invested in Cardano. Yet, having faith in the Cardano Project & Community that Charles helped build, is very similar to having faith in Charles H - Is it not safe to assume, Charles’ biggest fans like yourself, are the controlling steak in Cardano??? This idea of “trustlessness” is absolute Bull Shit! Having No trust in people & being a part of a healthy community are two completely opposite things. Cardano, Bitcoin, & any other coin . . . First and foremost, are about having faith in a community - faith in a majority of humanity. If you believe that, 90% of humanity is horrible, you would not be participating in communities but acting as a hermit hording some where in a rural geography. There is an overall vision of crypto & the hope of a better humanity. If you believe this, as I do, you have to hold onto that faith - you have to fight for it! The biggest battle you or I will ever face is the battle going on in our minds. We all have doubts from time to time . . . the difference is choices we make in light of those doubts. I refused to be RULED by Doubt. Its okay to have other ideas . . . maybe you’d prefer other crypto pojects, but, don’t go into those communities ruled by doubt & fear. Find your trust, find your faith.


#14

@jon-oh, do you not understand that IOHK has been working on this for the last 2.5 years? They will continue through 2020, but the contract will be an election from the community for either IOHK to continue their work or for the community to pick a competitor that also wants to put their name in the hat.

IOHK has too much invested in ADA to just up and walk away from it or to not want to continue to make it better. That is ridiculous if you think it will happen that way. Would you just walk away from a multi billion dollar business that took you half a decade of your life to build? NO. That wouldn’t make any sense at all.


#15

Yes. The beautiful thing here is that community will have the right to NOT continue to work with IOHK. Imagine if Microsoft shows up in 2020 and puts their proposal to build Cardano into yet next gen system? Many people may not like MS, of course, but they are a giant company with lots and lots of resources, that at least may provide some tech-support :slight_smile: So people at least gonna start thinking. Or maybe Cornell comes forward and says that they are ready to set up a dedicated team of 30 PhDs and 200 best Haskell developers to R&D the sh*t out of Cardano’s potential for decades in the future. Wouldn’t people start wondering and chosing? I would :slight_smile:

I love IOHK as much as the next guy, but if a serious serious players show up and starts proposing stuff - it might get tempting, tho =)


#16

Do they all live in modernistic underground bunkers with white cats? :rofl:


#17

Who is “in charge” of Bitcoin?


#18

Blockstream and to some extend AXA bank… As they were funded by them. Oh and chinese miners as well