Basho, Cardano's Mission and The Meaning of Success
Charles began by talking about scalability.
There is a mention of Basho, which is the Shelley/Goguen/Voltaire-eras equivalent of performance scaling, or Hydra which people are probably more familiar with.
SPOs are very natural parties to put Hydra channels on. And every time a new SPO joins the network, its performance will increase.
When the Cardano eco-system becomes more valuable over time, k will increase to attract more SPOs, thereby creating more Hydra channels and better performance without sophisticated tools like sharding.
In a nutshell:
Growth -> Appreciation -> More Decentralization -> More Performance
Next, Charles discussed the four dimensions of a successful cryptocurrency, namely:
- Security and Correctness
- Ease of Maintenance and Deployment
- Performance
- Operating Costs
In the final third of the video, Charles revisited the mission of Cardano, which is ultimately to provide economic identities to a billion users around the world, and to bank the unbanked.
According to Charles, success for Cardano is not about being the king of the crypto hill, or to have a larger market cap than Bitcoin. Charles’ meaning of success is to provide the platform for those who don’t have an economic identity to get it, keep it, and of which no one can take it from them; that they can enjoy growth in their standards of living, by having wealth and prosperity.
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