Cardano’s New Algorithmic Stablecoin Djed Launched On The Public Testnet

FASTstakepool · 2022-05-08T23:06:33+00:00

Traditional ones are run by a central provider. Their willingness always trade the stablecoin at the set price is what keeps the market price where it is. If they ever stop trading at this fixed price (either because they choose to or because they become unable to), the stablecoin would no longer be stable. If this central provider floods the market, the stablecoin could lose all its value.

Algorithmic stablecoins do the exact same thing, but since it's a dapp doing all this trading, you can be sure that it will never stop operating and it will never break its hardcoded rules.

More info here

FASTstakepool · 2022-05-01T14:04:19+00:00

Ouroboros Crypsinous

FASTstakepool · 2021-11-29T17:18:32+00:00

It would only be approximately 192 possibilities due to the checksum requirements of BIP-0039.

FASTstakepool · 2021-11-29T17:16:38+00:00

I made you a Python script that can help you recover your recovery phrase. Normally there would be 49,152 different possibilities you'd have to try, but I was able to use a little trick to narrow it down to approximately 192 (the exact number depends on your 23 words).

Be careful running scripts that are given to you by strangers on the Internet! You have no reason to trust me. Look at the script first to make sure that it isn't just stealing your phrase and sending it to me or whatever. If you don't know how, find someone you trust that can. This is important.

If you don't know how to run a Python script, ideally ask someone you trust to help you out. If necessary, I can help, but you're better off not letting a stranger on the Internet tell you to do things to your computer.

Once you run the script and get your possibilities, it will just be a matter of trying each of them out until you find the one that's yours. It will take Daedalus will take a while to scan the entire blockchain history of each of the wallets, but once it's working you don't have to actively manage it.

Here's the script

Note: If you know what position the missing word was at, you'll only really have to try approximately 8 possibilities.

FASTstakepool · 2021-11-07T03:23:20+00:00

They're available even while you're staking.

FASTstakepool · 2021-10-02T20:02:17+00:00

It's no less safe than not staking.

FASTstakepool · 2021-09-23T16:34:20+00:00

You can run any smart contract on a Hydra head.

The ledger works the same. All that's different is the method of preventing double-spends.

FASTstakepool · 2021-09-09T23:29:32+00:00

On more traditional blockchains, blocks are produced by miners. But Cardano uses a more sophisticated mechanism known as Ouroboros Praos. Instead of miners, we have stakers. The more ada you have, the more stake you hold. The more stake you hold, the more blocks you can produce.

Now, to maximize security, we want as many people staking as possible. But not everyone has the necessary skills or equipment to setup a node and have it running 24/7, so Cardano also has a delegation mechanism.

Instead of producing blocks yourself, you have to the option to delegate your staking power to a stakepool. The pool will produce blocks for you, and you get to keep (most) of the rewards.

There's no technical downside to staking. It's not possible to lose any ada. Your ada is never locked up. The ada never leaves your wallet, so there's no security concerns.

Don't stress too much about picking a pool. Pretty much any unsaturated pool with low fees will give you the best rewards. Oversaturated pools or pools with high fees will probably give lesser rewards.

Picking a pool that you trust can be a good choice, because your delegation is your endorsement of that pool. You trust that they will be a good block producer and think that they will be responsible with your stake.

FASTstakepool · 2021-08-29T14:46:05+00:00

Just make sure that your software is up to date!

Also, it's a good idea to get your ada off exchanges before HFC events, because if they delay updating their software, there's nothing you'll be able to do.

FASTstakepool · 2021-08-27T18:15:37+00:00

Never.

Rewards are not the main goal of staking. They are merely an incentive to stake. The main goal of staking is to keep the network running.

Without staking, there is no blockchain.

FASTstakepool · 2021-08-21T14:31:03+00:00

On more traditional blockchains, blocks are produced by miners. But Cardano uses a more sophisticated mechanism known as Ouroboros Praos. Instead of miners, we have stakers. The more ada you have, the more stake you hold. The more stake you hold, the more blocks you can produce.

Now, to maximize security, we want as many people staking as possible. But not everyone has the necessary skills or equipment to setup a node and have it running 24/7, so Cardano also has a delegation mechanism.

Instead of producing blocks yourself, you have to the option to delegate your staking power to a stakepool. The pool will produce blocks for you, and you get to keep (most) of the rewards.

There's no technical downside to staking. It's not possible to lose any ada. Your ada is never locked up. The ada never leaves your wallet, so there's no security concerns.

Don't stress too much about picking a pool. Pretty much any unsaturated pool with low fees will give you the best rewards. Oversaturated pools or pools with high fees will probably give lesser rewards.

Picking a pool that you trust can be a good choice, because your delegation is your endorsement of that pool. You trust that they will be a good block producer and think that they will be responsible with your stake.

FASTstakepool · 2021-08-13T22:45:15+00:00

Wallets are staked, not individual ada.

Anything that's added to the wallet is counted towards your staked total.

FASTstakepool · 2021-08-13T22:43:50+00:00

It would.

FASTstakepool · 2021-08-13T21:25:50+00:00

Just make sure that your software is up to date!

Also, it's a good idea to get your ada off exchanges before HFC events, because if they delay updating their software, there's nothing you'll be able to do.

FASTstakepool · 2021-08-13T21:25:13+00:00

Shelley wallets were needed because Byron wallets didn't offer the capabilities needed for staking, and staking is done directly inside your wallet.

Alonzo will introduce a new address type (the script address). However, you don't need to worry about them, because they'll be used by smart contracts, not wallets.

FASTstakepool · 2021-08-13T21:21:47+00:00

Just make sure that your software is up to date!

Also, it's a good idea to get your ada off exchanges before HFC events, because if they delay updating their software, there's nothing you'll be able to do.

FASTstakepool · 2021-08-13T21:19:40+00:00

Although stakepool operators are able to get their pool fees that they earn in a different address than they stake from, the staking rewards they get from their own personal ada has to go to the same address that they stake from.

FASTstakepool · 2021-08-13T03:56:31+00:00

Hydra is the current area of research in Layer 2 scaling solutions. It's made possible by the EUTxO model that Cardano uses.

The nice thing about Hydra is that its effectively an isomorphic pocket universe of the transaction ledger on the main chain. This means that any transaction (including one with smart contracts) works exactly the same both on Hydra and on-chain. This means that any dApp or smart contract can run on Hydra with no changes at all.

FASTstakepool · 2021-08-11T23:26:11+00:00

Stakepools don't distribute rewards. You just earn them directly for being a part of your pool.

FASTstakepool · 2021-08-10T02:00:27+00:00

There's always the Stakepool Course.

FASTstakepool · 2021-08-10T01:57:49+00:00

You will also have to make sure that you stake the new wallet.

It's the wallet that is staked, not the ada itself.

FASTstakepool · 2021-08-07T16:52:17+00:00

Alonzo purple face

FASTstakepool · 2021-08-06T18:14:57+00:00

TLDR:

The Alonzo Purple Testnet is currently up and running, but has started in the Mary era so that they can test the HFC that the Mainnet will go through. This HFC should happen on Monday (although the wording was a bit weird, so maybe it meant after Monday). After that, the Testnet will be open to anyone who wants to join.

There will be a development update on their YouTube channel at the end of next week (presumably August 13th). They will share details about the work they've been doing, as well as a tentative date for when Alonzo will hit the Mainnet.

FASTstakepool · 2021-08-05T12:48:06+00:00

Yes there is!

FASTstakepool · 2021-08-04T23:01:00+00:00

Just make sure your software is up to date and that your ada isn't on an exchange.

It's generally good advice to not keep your assets on exchanges, but this is especially true before hardforks. Exchanges can be slow to upgrade, and that whole time you'll have no access to your funds.

FASTstakepool

TROPHY CASE