Running the chain

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• 38:58 TLDR Cardano Blockchain Operation and Delegation Explained Pedro Lucas So proof of stake means that what gives you. It's having stake, having ada, having ADA in play that gives you right to produce blocks. And because most people don't have their own Cardano server, their own Cardano node, we delegate that right. So like if I have 1,000 ADA or 100 ADA or 10 ADA and in cardano node · node · server · stake pool operator
• 55:55 Discussion Stake Pool Performance and Delegation Challenges Pedro Lucas So yeah, it varies quite a lot and you need to have like a proper operation, let's say in terms of being an entity on Cardano, running the technology and keeping some, some audience valuing you as the. Their preferred stake pool operator. Unfortunately, what we also see is if we go to not sure where epoch · stake pool operator
• 1:20:00 Extended Governance Participation and Community Engagement Pedro Lucas What I was getting to is that after you do log in properly, you can activate notifications that go either or both to your phone on progressive web app and to Telegram. So every time someone puts in another governance action, you're gonna get a DM on Telegram. And even every epoch, for example, you g epoch
• 32:50 Extended Gimbal Labs Updates and Workshop Collaboration Pedro Lucas So yeah I can share you literally just this screenshot and, and maybe we can align because what you're talking about helps a bit to give more concrete goals. For example in terms of I can select as an SPO or I can vote and register to vote. I can apply for Catalyst. So you know, if you could, your, spo
• 46:04 Extended Cardano Blockchain Operation and Delegation Explained Morgan Ufuoma Kinda. But I want to know is it like the same. Either you are delegating to two different entities because. So when you have either your wallet, you stick to an spo and when you want to vote, you stick or sorry, you delegate to a drip. Or does the SPO also vote on your behalf? Can the spo. spo
• 1:25:15 Concepts Governance Participation and Community Engagement Pedro Lucas You see just a close today's session. These are all the parameters that we have that we can tweak on Cardano if we wanted to increase the fees for each transaction or if we want to increase how much a pool is making for a minimum or how much they're charging as a minimum for epoch. You know, all the epoch
• 43:38 Discussion Cardano Blockchain Operation and Delegation Explained Pedro Lucas We see here constantly, the servers are replicating things between the each other and network health. There we go. You see here where they are being hosted. And there's one, this one, I find it really interesting because it shows the alignment between all the nodes. You can see here there's over a h node · sync
• 1:04:27 TLDR Cardano Network Decentralization and Governance Structure Pedro Lucas And they have no network parameters, they have no governance. The only way to vote is by either running node version A or node version B and that node behaves according to its code. And that's how you vote on Bitcoin. On Cardano we have not just the, you know, node diversity which now we're getting node · nó

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• 21:54 Concepts Blockchain nodes and Cardano stake pools Pedro Lucas Maybe write it in the chat or. Yeah, thank you. Okay. Why are two relays required of the spo? Well, the simple reason is like in computer science or in computers overall, we always need backups, right? So imagine I'm not a specialist of this technical area, but, you know, you're running a stake pool block producer · node · spo
• 36:31 TLDR Consensus algorithms Pedro Lucas Unavailability. So one thing that we have on, on Cardano is slots unavailability by a block producer. Tie is like several blocks at the same time. And Cardano works in a nice, in an interesting way. If you're running a stake pool operator, there's a schedule and you know, I don't know how much in ad block producer · stake pool operator
• 17:25 Concepts Blockchain nodes and Cardano stake pools Pedro Lucas Well, they must have some reason for running a node, right? So it's a good question. If we focus on the data data aspect of it, they could be indexing the blockchain to provide API data to apps, you know, so that could be a reason. Maestro Block, Frost, Dandelion, you've heard of these, right? This node · running a node · spo
• 29:40 Extended Consensus algorithms Pedro Lucas So I'm not sure if we have. Like Deno network visualizer. I know that Dave is doing one visualizer. Maybe let's add in Dave. It could work. There we go. It's Dave Ada. This guy is an SPO and. He. Does crazy stuff to help make Cardano more visual. It's Just a bit slow to load on my computer. Let's tu spo

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• 42:35 Discussion Blocks, blockchain, nodes, and stake pools Pedro Lucas But what I just said is like, you know, the relays help because they are, you know, trusted by the block producer. Something that like. The question here was a bit like, what if the block producer goes down? Do the relays speak for it in producing blocks? I don't think so, but yeah, just to be clari block producer · cardano node · node · running a node · spo · stake pool operator
• 51:50 TLDR Consensus algorithms and proof of work Pedro Lucas It restricts the consensus algorithm, which is what we're looking at here, restricts the right to speak in the network in a way to avoid spam. So if some computer is putting out rubbish blocks or pretending or fake or something, it's invalidated by the consistency algorithm, sort of proving it to be block producer · spo · stake pool operator

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• 1:01:12 TLDR Blockchain networks and block production Pedro Lucas Okay. So I think this probably is a link that I had on my notes, but we're running a bit out of time for today, so just going to fly over it. And yeah, so here we have the block producers, which were like the difference between a relay and a stake pool operator is that the stake pool operator is pro block producer · epoch · spo · stake pool operator
• 58:18 Discussion Blockchain networks and block production Pedro Lucas On Cardano, we have for example, this, we have this we've already seen. We have the stake pool operators. Right. And we also have what we call relays, which are machines that are working usually towards a stake pool operator, but they can also just be relay things in the chain without being attached spo · stake pool operator
• 10:17 Concepts Session context and course follow-up Pedro Lucas There we go. Log producers. So it really saves me a lot of time to get all text typed and translated. So you remember I have this line here because initially I showed the learners from the user's point of view conceptually what a blockchain is. And then we actually went under the hood to what is a b block producer
• 1:09:00 Discussion Decentralization and supporting resources Pedro Lucas No, I think for example, on Cardano I don't understand it fully, but there's a computation layer and a storage layer and those all work in parallel. So I think maybe on Ethereum it's different machines. So that's why it's different nodes. There's an execution node or consensus node. node · nó

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• 34:52 TLDR ADA Stat Pools Exploration Pedro Lucas You see here, for example, very clearly. He's not producing any blocks. He's only produced one block here. That's why the return on ADA is at zero here. Even though he produced one block, the return on ADA is at zero. Probably because there is a min fee, which is, you know, for producing, for runnin epoch · node
• 14:31 TLDR Governance and Delegation Mechanics Pedro Lucas So that was the recap and we're going to go into the stake pool Operator selection in a second. I just wanted to give you a high level of what also I wanted to do today. So we are keeping the same structure of you know, your check in chasing up on DAP experimentations which is a bit what we what we infrastructure · node · stake pool operator
• 40:29 Extended ADA Stat Pools Exploration Pedro Lucas So like here we can see only lifetime return on stake. Here we can see the each epoch's. Return on stake each epoch for this pool. So you can see how stable the amount the percentage is and that should. Give you some, some steer on how stable this pool is. You can also see here that fixed cost that epoch
• 43:42 Session ADA Stat Pools Exploration Pedro Lucas Okay, so here we can see the margin part as well at 0.8%. So this is the fee that where midnight pull says they're charging zero and. You can see it there as margin. This one is the more typical scenario where they are charging 0.8% of the rewards that they produce for their delegators plus a fixed epoch

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• 1:03:52 Discussion Staking and Running Cardano Pedro Lucas You want to measure how many votes are in, how many votes aren't. And that's like in that transition between one epoch to the other. This one here, for example, is a parameter change. So there is a variable on the heart of the blockchain being respected by every block producer that says this variabl block producer · epoch
• 59:59 Concepts Staking and Running Cardano Pedro Lucas We're a bit behind our schedule. So now, this is the main thing that I was talking about when we were just looking at our wallet and I was showing you those two sections. It's these two things. So running the chain, as I call it, means at least selecting someone that you trust to run the servers, so block producer · stake pool operator
• 20:16 Discussion Cardano Ecosystem Structure Pedro Lucas But here I was seeing it a bit like more in type of profiles. So if we have these guys building the blockchain of Cardano, and we have these guys building products on Cardano, we need something else that we've seen even from the beginning here, right? You have the infrastructure, and you have these infrastructure · nó

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• 23:49 TLDR Recap of previous governance sessions Pedro Lucas If you don't have a server, if you don't have a Cardano stake pool, you're going to need to select a stake pool operator. And the other one is usually either selecting a delegate representative or becoming a direct voter. But you should do at least one of these things. Okay, I'm not gonna go back to server · stake pool operator
• 19:05 Extended Session administration and cohort planning Pedro Lucas You could always come to this app to see a list a bit like Luma, but more specific to our projects. See what are the future calls. So, for example, tomorrow we're going to have a UI UX call. On Sunday we're going to have Epoch hump banter. And then, you know, so you could see exactly what calls we h epoch

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• 18:51 Discussion Cardano X Platform and Self Custody Concepts Pedro Lucas Okay, I'm not seeing anything on the chat. I'm going to move on. So for now follow what we're doing. Since Megan wasn't here last session, you were here for a bit. I'm not. I don't want to repeat everything. So I'm just going to zoom fly over what we covered last week. Just to bring Megan up to spee epoch
• 5:25 Session Technical Setup and Session Logistics Pedro Lucas I was just dming Aomi somewhere. I'm going to just use X because we were actually two hours in the space this morning already. We do the epoch hump banter so it's the top of the epoch where we meet in space in a 45B facilitated space. So. epoch

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• 8:28 Full Blockchain Fundamentals Pedro Lucas And so in this spirit, where these are the names in a bit darker, we did this, this, this, this. And so we took a look at these concepts and we discussed them. So if you are able to catch up a bit and have a look on. On Fireflies for the last Friday's recording, you'll see us here speaking a bit abo block producer · node · relay node

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• 44:27 TLDR Transaction Submission Flow Pedro Lucas But just keep in mind that when the applications decide on moving something in the blockchain, there needs to be a signature on a transaction and it needs to be routed either through the mobile app to the back end app to the data provider or, I don't know, some kind of way of submitting that transac block producer · node
• 19:19 TLDR Proof Mechanisms Compared Pedro Lucas Proof of work is just this. Proof of stake is owning ada. And because you own ada, that gives you the right to decide who is the computer or the stake pool operator. That's going to produce blocks. Okay, so this was just a quick recap. I can also say that this is how hard it is to produce blocks in stake pool operator

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• 23:46 Extended Cardano Block Explorers and Token Details Pedro Lucas So for example, today epoch 54645 is ending, this one is beginning and the rewards for Epoch 644 are getting paid. So actually going to make a quick screenshot of this for reference, Maybe leave this in. And drop it on the. Board. Just so we can talk about this kind of concept of epoch later as well epoch

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• 22:47 Concepts Playing with Smart Contracts (unidentified) guys and sending dms so i'm gonna ask again i'm hesitant to go ahead with this idea of doing a an app that you could install and it would just let you know you could always come to this app to see a list a bit like luma but more specific to our projects see what are the future calls so for example t epoch

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• 23:34 TLDR Web3 product framework Pedro Lucas And today actually I wrote in the email we're going to have a look at the complete framework. But it's really hard to define what, what is complete. You know, we just by experimenting on the last session got to Drop all of this in the board. So legal framing, technical building blocks and technologi epoch

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• 27:48 TLDR Smart contracts, UTXOs, datums and redeemers Pedro Lucas So it's a human or it's a server that's deciding I want to spend this because it's mine and I completely control it. Unlike that, you can have a wallet address that is actually a smart contract. The difference is that there's no signing keys to move money out of this smart contract. The reason or th nó · server