Member-only story
Cardano’s Vision
Charles Hoskinson together with colleagues from IOHK, Emurgo, Cardano Foundation, and active supporters celebrated the second birthday of launching Cardano main-net in Plovdiv. It was on Saturday 28 September 2019.
Charles had a great speech and tell the world what Cardano is going to be. Let’s have a look at what Charles told us. It was really visionary and it makes sense to think about it.
You can watch the full video here: https://www.youtube.com/watch?v=wsBBog2rCzY
Costs needed for keeping networks running are really important
Charles said:
“Not only that, but the entire Cardano network runs at a fraction of the power cost of equivalent proof-of-work blockchains, using the electricity equivalent of a single house, rather than a small country.”
The cost needed for keeping the network running should be minimized. Not only for the respect to the environment but also for the network economics. Bitcoin and Cardano subsidize the networks by rewarding block producers and all consensus participants. The subsidy is basically a certain amount of coins that will be released and given to block producers. The subsidy gradually decreases in time and it is expected that the block producers will be rewarded mainly from transaction costs. One day, it will be only transaction costs that must keep the…
