Would Ethereum reaching PoS mean the dead end for Cardano?

English General Discussions
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I lack the requisite understanding and background in mathematics and related computer technology to have 100% confidence in the answer I will give. But given my level of ignorance in all related domains to the new technology of cryptocurrency I can only reason as best I can at my own level of laymen-ship.

I did major in biology in university, so, I try to draw upon those related rational skills as best I can in making my conclusions or guesses.

So, here goes.

From my perspective the value of peer review in the Cardano project, at least for me, is that it increases my confidence in the Cardano project NOT being a scam operation. That is important for me because Iā€™m too ignorant of modern computer technology and science to sufficiently spot an intentional scam from a project that is not one. An example is sometime ago I bought a 1 or a few MIOTA coins based upon the claims and stated vision.

A project that is not a scam can still fail. I now suspect MIOTA or IOTA is an intentional scam but Cardano Iā€™m much more confident is not, even if the project fails. But that said the other value in my view in Cardano submitting its research papers to the peer review process is that Cardano will be one of the early groups and communities that ADDED to the academic body of work pertaining to cryptocurrency and blockchain. This value is more in the realm of academia and intellectualism and not in the realm of financial profits. So, ā€œpeer reviewā€ in this sense only matters to those in the cypto sphere who have varying degrees of appreciation for adding to a body of existing knowledge.

But Charles once mentioned something I never heard of and it led me too look it up. He mentioned ā€œformal methodsā€ I think it is called. If I recall correctly from what I read its often something (mathematical) used in engineering. It is the rigors of applying formal methods to various developments in the Cardano technology that I think will ultimately have more bearing on the profitability of Cardano and the ADA token than peer review.

I could be misunderstanding this and Iā€™m sure someone will point out my errors if they exist.

Maybe the last thing I want to say is that Iā€™m the only person in my world, my small world, that I know of who has bought in crypto or watches videos on it or reads material on it. Albeit, I live more a central city or inner-city setting, but consider nearly everyone I know has a smartphone. Iā€™m suggesting neither bitcoin or etheruem have as much of the human population interested in them or invested in them as we may imagine. Most humans involved in either remain statistical outliers I would thinkā€“relative to the total human population. I live in the USA I should point out. What this tells me is that tremendous opportunity still exists in the emerging crypto sphere.

You knowā€¦ as a quick analogy, as imperfect as it may be, Sugar Ray Robinson for whom the ā€œPound for Poundā€ title was started, had over 100 professional fights if I remember correctly. Contrast that to Mohammad Ali who had under 40 career professional fights I believe. Wellā€¦ in this early stage (like the 1st stage the UFC underwent) bitcoin and ethereum look undefeatable like a Ronda Rousey in part because the UFC cyrpto for women is still so unevolved, but once the competiotion becomes more evolved and complete as a fighter the weaknesses in the bitcoin, etheruem Ronda Rouseysā€™ might become more apparent. A new champion could emerge.

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Formal methods ensure program code is error-free and does what it is intended to do, so more about reliability than profitability.

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This ----> Vitalik Ends Devcon Talk With Sing-Along About Failed Ethereum Ideas

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Sorry, RobJF, for not making myself clearer. Actually, my entire post was poorly written and could have used some heavy editing. Some of my sentences and paragraphs were overly cumbersome. But Iā€™m lazy and if Iā€™m not forced to edit once, twice or more a paper or essay or any writing large or small I generally wonā€™t.

I shouldnā€™t have assumed every reader would have immediately understood what I was thinking or getting at. I was aware formal methods is some math technique (I donā€™t claim to understand it) whose results can indicate proof of correctness or measure of reliability. I was connecting dots to profitability from thisā€“as opposed to the process of peer review (which I connect to adding to an existing body of knowledge)ā€“through business odds of adoption and investment from large institutions. Or the so-called ā€œinstitutional moneyā€ everyone awaits to flood into the crypto sphere. As someone pointed out earlier in this thread executives at the World Bank will be looking to adopt somethingā€“if they were to adopt a blockchain and its tokenā€“that has a very highly level of proven reliability. This is why I viewed members of the Cardano development team applying formal methods as so important to any significant probability of future profitability in Cardano and the ADA tokenā€“in relation to our early investments today.

I also see my comments on Sugar Ray Robinson (a past boxer in professional boxing) and the early UFC and the famous Ronda Rousey was totally unclear and all muffed up. Particularly given I jumbled everything together.

To be more clear with my attempt at an analogy I was thinking about 3 different things:

  1. Boxing and an old time fighter with over 100 pro fights in contrast to Ali era fighters with fights against far fewer opponents yet the brand name of Ali being much more widely known to us today. Bitcoin if it last decades more may become a ā€œSugar Ray Robinson.ā€ Though today one could argue it is not that yet. And as for Ethereum if it wins prize fights today but its career run ends soon then it will have had a shorter fighting career more akin to Ali than a Ray Robinson.

  2. The UFC in its early days was one martial art style against a different martial arts style. It was not yet MMA (Mixed Martial Arts) properly speaking. Over time the UFC itself evolved into a competition in which all fighters needed to be MMA fighters or that is to say not skilled in just 1 thing but rather skilled hand striking, striking with their legs, and ground grappling. Bitcoin and Ethereum may possibly be early UFC. I donā€™t know. Time will tell I suppose.

  3. Even after the male realm of the UFC had evolved into MMA with well rounded fighters, this was not so until fairly recently, with the late comersā€“womenā€“into the UFC. Ronda Rousey was marketed as undefeatable, that not even the best male fighters in the world could beat her, not even in pure boxing. Certainly she was marketed as impossible for other female professional fighters to defeat. However, after her last to losses people began to realize that her female competition in the UFC had evolved to become more well rounded fighters, and Ronda was less rounded, less complete (lacking in hand striking skills) as a fighter but rose and reigned during a time when mot female fighters in the UFC were less rounded and complete fighters like her. When more rounded and complete fighters came along and battled her it exposed her weaknesses. And Iā€™m saying Cardano could potentially do that to Bitcoin and Ethereum or at least Ethereum.

Let me add something I just came across in a book too. The mention of economist Hernado de Soto and his concept of ā€œdead capital.ā€ This sheds greater light for me on the longer term vision, however slow and time committed/consuming, of the executive decision Charles made to work with institutions and governments in the developing countries. Heā€™s not taking a flashy approach but rather heā€™s making strategic moves to invest long term in x areas like CIA agents or like French Foreign Legion digging in and building forts and infrastructure in a desert of Africa. Certainly this is the mature business approach Cardano seems to be talking in Ethiopia. Furthermore, Charles and the Cardano team are placing importance on respecting both the people and the culture of Ethiopia and other African nations they are looking to expand in to. Not all Western business people do that when looking to cut business deals in African countries.

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Yes I guessed you meant something like that, which is why I deleted my post, but you were obviously too quick for me. :grinning:

Edit: turns out I didnā€™t delete it after all, ah well never mindā€¦ :slight_smile:

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Absolute not. Now Cardano build superior PoS technique. Vitali is clever man but Cardano have big advantage because Hoskinson. He know 100% how create best crypto currencyā€¦and he have superior collection true profosionals behind him.

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Interesting they couldnā€™t get Proof of Proof of Work goingā€¦

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can you please explain what that means? PoPoW?

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Here you go brotherā€¦Proof of Proof of Work was the first step in the research chain, and Proof of Proof of Stake is what IOHK is working to implement for sidechains in Cardano. I guess you would need both if you wanted a sidechain between a POW coin like Bitcoin or ETC and a POS coin like Cardano. BTW the simple answer to the question is PoPoW is a way to see the validity of a chain without having to look at the entire chain.

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Boah, boy o boy didnt that look impressive. Very impressive way to look things differently. looks very good on papers and thory. Can they deliver is the big question.

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Yes it is good to know your research has brought you to the same place that my research has brought me. Can they deliver is the question. I believe they can. Only time will tell.

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The lottery for slots ETH doesnā€™t have