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Smart contracts technology has enhanced the abilities of blockchain networks and added programmability features. A trusted link between the digital world and the physical could be another such enhancement. Oracles can do that for us.

Why do we need Oracles?

The first generation of blockchain networks was able to transfer value from

Alice to Bob. They can be perceived as transaction networks. The second generation came with smart contracts. It enables us to work with conditions. It is very useful in an environment where people do not trust each other and it is needed to be sure that something is true before coins or tokens are transferred from one person to another. Decentralized Finance (DeFi) can take the whole concept even further and link the purely digital world of blockchain with the physical world. We are talking about the physical world but the world of traditional finance is to a certain extent digitized as well. The goal of the blockchain movement is to transform traditional finance products into decentralized, trustless, and transparent protocols. It will be possible when we can feed data from the external world into decentralized applications. It must be ensured that data from the real world is reliable. Which data are we talking about? It can be anything that comes to your mind. …


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Media reported that Cardano became the most decentralized network in the crypto world. It happened half a year after the launch of the main-net. Let’s have a look at the details.

The launch of the main-net

The Cardano Shelley main-net was launched on the 29th of July 2020. It was the day when many pool operators have registered pools and people can stake their ADA coins. There was a Friend&Family group of pool operators that tested the main-net for some time before other operators could join.

The launch of the main-net was a big day for the IOHK team that has been working on the Cardano protocol 5 since 2015. Another rewarding moment for the team is the news that Cardano becomes the most decentralized network in the crypto world. It means a lot since people care about the project. Decentralization, but let’s not forget security, is linked with the interest of people. Only the interest of people and financial involvement can decentralize a public network. …


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The article is focused on newbies. There is nothing new for experienced holders.

What you will find in the article

If you are completely new in the cryptocurrency space then probably have a lot of questions. We would like to help you with giving you a basic overview of the steps that you need to do in order to buy ADA coins and start with staking. It is not a step-by-step guide. We will not tell you which exchange to use or which Cardano wallet to install. We will give you options and tell you how you can protect your wealth. Newcomers can make a lot of mistakes. We can tell you what you should never do if you want not to be scammed or make a silly mistake. The article is not complete. …


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Cardano is a mission-oriented project. People should not be blinded by investment opportunities. They should rather understand Cardano’s mission first. It is the mission that can change the world. The profit of individuals will not make the world a better place for living.

The mission is always in the first place for teams behind Cardano

Cardano is the third generation of an open-source blockchain project. Charles Hoskinson decided to build on top of Bitcoin’s success and bring necessary innovations and high-quality engineering into the world of cryptocurrencies. He put together a strong team of mathematicians, scientists, specialists on cryptography, programmers, and other smart people. The spirit of three official Cardano entities is driven by the passion to create an open social and financial operating system. The global decentralized network that is based on blockchain technology and that will be technologically mature to serve billions of people around the world. Cardano is going to be an open platform that seeks to provide economic identity to people who lack it. The platform will provide the possibility to create applications that can manage identity, value, and governance. …


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When Alice sends 1000 ADA coins to Bob she uses her wallet. Bob will receive the coins in a few seconds. In the article, we will go through the whole process and explain what happens behind the scene in this scenario.

ADA coins belong to their owners

Cardano network is able to separate the ownership of ADA coins and the process that transfers the ownership from the security point of view. It must be ensured that only users can manipulate with their coins and nobody else including the network. Who is the network? Cardano is a peer-to-peer (P2P) network (client-client network). It means that it consists of many independent clients. There is nothing like a server or a centrum. Every transaction is broadcasted into the network and propagated by clients. Clients of pool operators are responsible for the insertion of transactions into a new block. The schedule of pools that will get the right to produce blocks is not known in advance. The network propagates transactions to all pools. A pool that becomes the slot leader can insert all received transactions into a new block. …


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Cryptocurrencies could be invented due to the many major achievements in cryptography. It is not a surprise that cryptography is used not only for signing transactions but it is also used for the creation of new blocks. In the article, we will have a look at how a new block is created in the Cardano network from the point of view of cryptography.

Blocks are created by pools

In the Cardano network, the nodes of staking pool operators are responsible for the production of new blocks. Every pool operator needs to generate a few pairs of keys and register herself as a block producer in order to become a slot leader. Time is divided into epochs and every epoch is divided into slots. A slot lasts one second. There are 432,000 slots in every epoch so the epoch lasts 5 days. It is possible to configure how often a new block is to be created by the parameter d. Currently, it is set to a value that lets the network create a new block approximately every 20 seconds. It means that approximately every 20 seconds some node becomes the slot leader and can mint a new block. In every epoch, approximately 21,600 blocks are created. …


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Public blockchain networks need a mechanism for distributing the consensual power to entities that wish to participate in the decentralization and security of a network. Let’s have a look at how it is done in Cardano.

How to ideally distribute power and to whom

A decentralized network is dependent on many individuals that operate nodes. Nodes are responsible for creating blocks, verifying blocks and transactions, and some other things. In the article, we will talk about consensus power since every blockchain network needs to come to a mutual consensus among nodes in order to append a new block into a blockchain. …


What is the relation between belief and technology in the context of cryptocurrencies? What is more important for success? Read our take on the topic.

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The very beginning

If you asked me how is it possible that cryptocurrencies have been invented then I would tell you that the internet is the reason why it happened. The Internet is a major scientific achievement that disrupted many industries. For example, newspapers and journals have been issued by big publishers. Individuals had no public medium that could be used for publishing their articles or spreading their opinions. The Internet demonopolized the press industry. Nowadays, everybody who has the internet can publish articles and opinions. The power of big issues has weakened. Research in the information technology industry continued and many inventions in cryptography allowed us to use internet banking. It was very significant for cryptocurrencies since people began to trust digital numbers and believed that they have value. It was not necessary to hold banknotes in hands to be able to pay. …


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We can see that many people from the community are interested in being a Cardano staking pool operator (SPO). It is very positive for the ecosystem. People should be aware of the fact that being SPO can be a serious business one day.

The cryptocurrency environment has changed in the past years

In the beginning, Bitcoin miners were people that heard about the possibility to earn magic coins by running their computers overnight and mining them. It was often crypto-punk enthusiasts that started doing that. Later, other people joined the mining industry and wanted to earn digital coins. It was appealing to keep running a decentralized network that was created by an anonymous person(s) Satoshi Nakamoto in order to give the world independent money. Money that would not be controlled by a central authority. Instead of the central issuer that would control the money supply, the network was designed to gradually release new coins in a predefined curve. The price of bitcoins was zero in the very beginning. Bitcoin was launched in January 2009 and the first real-world transaction happened in 2010 when a bitcoin miner bought two pizzas from Papa John’s in Florida for 10,000 bitcoins. It was a barter trade. After some time, it was possible to price bitcoins in fiat currencies. In 2010 the first exchanges appeared and the price of bitcoins rallied from 0.008 USD per BTC to 0.08 USD per coin within 10 days. …


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Cardano has been built with a focus on decentralization and can provide users with financial freedom and independence. Decentralization is not only about technology but also about the mindset. Do not stake ADA coins on exchanges.

Blockchain will reshape society only if it is used in a decentralized way

Cryptocurrencies have been invented to make the world a better place for living. The crux of the improvement lies in the ability to avoid middlemen and their services that we often need to use for a variety of reasons. Blockchain technology offers an alternative that is able to connect people without middlemen that can and often misuse their position. High fees, censorship, collection of data, refusing to provide a service, providing information to third parties, poor quality of services, weaker position when you negotiate about conditions of service are the main disadvantages of using middlemen. The goal of the Cardano project is to eliminate named disadvantages and create a world that will be more transparent, people will enjoy higher privacy, nobody will be able to censor transactions, collect data about you and commercialize it, or make a big profit for low-quality services. It is a great idea but there is a catch, though. Technology itself is not able to realize it. …

About

cardanians.io

Proud Cardano ambassadors Jaromir Tesar & Lukas Barta. Operators of Cardanians pool with ticker #CRDNS.

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