we built cardano to be the financial operating system of the world we built it to bank the
unbanked we built it as a community to give economic identity to those who don't have it
so that we can have one global fair marketplace literally everywhere you look in this project from
how we vote to how wallets work to how we handle consensus to how smart contracts are developed
cardano stands alone in that it has innovated and that's an objective reality it can be ignored
it can be diminished plenty of people who don't understand how this technology works or why it
works the way it does could not value that but the reality is that our bright light is shining
through and as we uh as we look to the future it's becoming more clear that the distance between us
and everyone else is is growing it's a crazy mission and it feels vast in scope but with
vassal cummings in september 22nd it feels that much more achievable because we're not here alone
we're here together welcome back everybody to altcoin daily you subscribe for daily videos
keeping you informed on everything going on in the crypto community we just listened to charles
hoskinson ceo of iohk one of the founders of cardano one of the original founders of ethereum
announcing the date of cardano's biggest upgrade yet i'm going to play you a couple more clips from
this announcement but first the most pertinent information about what to expect as a cardano
holder or cryptocurrency enthusiast september 22nd this is what you need to know vassal upgrade date
confirmed following the successful completion and extensive testing of all core components
plus confirmed community readiness we along with the cardano foundation can today announce the 22nd
of september for the vassal upgrade on the cardano mainnet vassal is the most significant
cardano upgrade to date bringing increased network capacity and lower cost transactions
the upgrade will also bring enhancements to plutus to enable devs to create more powerful
and efficient blockchain-based applications this is the most significant undertaking
for the whole technical cardano community so in the past 24 hours we've pulled members of the
stake pool operators and dapp communities and they have given us full confidence that they
will be ready for vassal on the 22nd we've been tracking well against all three metrics
we with the cardano foundation set for launch the three metrics 75 mainnet blocks being created
by the final vassal node candidate 1.3 5.3 approximately 25 exchanges upgraded 80 percent of
ada liquidity top 10 dapps by total value locked confirming readiness the community is ready to go
the vassal upgrade is a testament not just to the hard work of the core development team but
to the many technical contributions of the wider cardano community many of the vassal improvements
stem from community-driven cardano improvement proposals cips and thanks to cardano's unique
hard fork combinator we anticipate a seamless technical transition with no disruption for its
users or a break in block production users need take no action yes if cardano if iohk does its job
correctly we will wake up september 22nd and it will be an otherwise normal day a good day and if
we've all done our job right we're going to wake up on september 22nd and it'll be just another
day that's the magic and power of the cardano ecosystem as we do our homework early and we do
the work up front so that we don't end up enduring the consequences of not doing it on the back end
this truly is the biggest update that cardano has ever had in its entire history now a lot of people
are asking cardano versus ethereum is cardano going down a direction to overtake ethereum and
of course this is a very complex thing they're just doing it differently but to articulate more
on cardano versus ethereum let's throw it over to charles hoskinson talking about how amazing
this upgrade is for the ecosystem and talking about the difference the way cardano is doing it
versus how ethereum is doing ethereum started off with maximum expressiveness and then dialed
it back over time he says that has some problems cardano started with minimum expressiveness with
this new upgrade they're going to be adding capabilities and generally their philosophy is
minimal expressiveness and add more capabilities over time listen to charles articulated and
tell me what you think ethereum or cardano it is going to really help a lot of dap developers out
as i said back when we launched alonzo there's really two ways you can look at smart contracts
and programmability in the ecosystem one way is to start with maximum expressiveness
and there dial it back as you discover there's problems
and this is kind of what ethereum has done and they released something they said oh well maybe
we need to put some more controls and checks and balances and the problem with that is twofold one
as you dial back expressiveness you break old contracts and two anything that is hacked
results loss of money i've seen reports as high as 25 billion dollars worth of stuff has been
stolen or lost as a result of hacks and bad smart contracts in that ecosystem when you look
at the other direction you start with minimal expressiveness and then you gradually add new
capabilities over time that broaden the universe of things that can be implemented on the system
and ideally every time you do that you'd like to improve safety reliability and specification
so that's what we did with the extended utxo model we started and knew that over time we could get to
what ethereum has done but we understood a roadmap to get there so the first major upgrade to plutus
is happening with fossil and it's going to massively scale up the universe of discourse for
contracts the level of expressiveness has really improved but we've maintained actually that level
of security and quality that people have come to know and love in the cardano ecosystem there's
more work to do more sips to the right uh there's a lot of things on the horizon especially in 2023
but i think people are going to be very happy with what they have and there's a lot that they
can build with what they have from big upgrades to the dexes to stable coins to many other things
there's over a thousand projects currently under construction in cardona land and to add to that
cardno is the first protocol since ethereum that's rolling out a defy ecosystem largely without a vc
leg up it has security decentralization community and soon throughput to succeed and equivalence
to compound ave curve maker lined up and much more vassal upgrade coming september 22nd and
its metrics could not be better native tokens up transactions up while it's up delegated wallets up
pluto scripts up policies up in addition to that we see you cardano community cardano is currently
the most searched coin on lunarcrush.com its share of social activity across the crypto market
has been steadily growing over the past months and as you already know if you subscribe to our
channel cardano is literally one of the biggest brands in the world according to marketing
consultants who specialize in these things guys if you appreciate us coming at you on a daily basis
subscribe join our team smash the like button if you appreciate this video and i want to leave us
charles articulating the plan after the vassal upgrade the plan going in to 2023. listen to this
see tomorrow moving forward there's going to be a big retrospective on
how do we do things better there's also going to be a deep conversation about the overall
architecture of cardano as it is and how we take it to the next level to make it more useful and
portable scalable and better for everybody a lot of sips are coming some sips related to
voltaire and governance some sips related to basho and scalability uh and there's a lot of cleanup
that needs to be done as we hand it over from one steward role to a members-based organization
and then participate with you guys in that capacity so that's what 2023 is really about
so a lot of people are stepping up taking more advanced roles more in-depth roles
and we're seeing tons of new people entering the ecosystem and
discovering the magic of what we've put together for the very first time which is truly exciting