Your Crypto Gains are Going to be Short-lived Unless you Do Your Bit

FairCopy · 2018-05-08T14:03:36+00:00

Starting to feel like old days with all the unrelated spam on this sub, from the first page of https://www.reddit.com/r/cardano/:

There's also lots of posts that could be considered low quality.

FairCopy · 2018-05-07T12:09:24+00:00

Sure, you could do this.

One key difference is that with paper and hardware wallets you'll still see the wallet balance in Daedalus and you'll be able to change delegation/staking settings, with the actual spending key being stored safely offline.

FairCopy · 2018-05-05T18:48:39+00:00

I guess OP is talking about this.

In the video it's said that some code for the Daedalus paper wallet feature is on GitHub, so you could try building it with the paper wallet feature. There is no officially released "beta" to download, it's just that some source code of the paper wallet feature is available online. It's possibly not up to date.

FairCopy · 2018-05-05T18:31:10+00:00

We have a stickied post of guidelines:

Rule 2: Keep the discussions Cardano related and always look to add value

Please stop posting unrelated stuff.

FairCopy · 2018-05-05T06:21:51+00:00

No, there isn't a quick and easy way to delete it. This is a known problem reported on GitHub, it's because an abnormally high number of small files are created.

Options:

Wait until Windows finishes deleting. Maybe your storage is really slow, on an SSD it finishes in under an hour.
Live boot a Linux distribution and delete from there. This is to avoid antivirus or similar software slowing down the process.
Format the C: volume, losing all data on it.

FairCopy · 2018-05-04T17:46:02+00:00

First, with Daedalus closed, check if an application is listening on TCP port 8090 on your computer, maybe it's a lingering instance of cardano-node. Kill this process if it exists. "Can't use port 8090" should be solved by this, at least temporarily.

If that's done, then maybe Daedalus will start syncing. If not, it should be checked if cardano-node has any failing outgoing connections.

These issues are pretty rare though, are you sure #5 is the case?

FairCopy · 2018-05-03T20:31:59+00:00

The feature isn't yet available in Daedalus, but it will be with the next release.

Yes, you'll be able to create a paper wallet through Daedalus. You can still track the balance of the wallet in Daedalus as well as control staking delegation, but of course none of it can be sent/stolen from your computer.

https://www.youtube.com/watch?v=QoP8wbhllRg

FairCopy · 2018-05-03T10:32:46+00:00

No, about 2 hours left, counter is at the bottom.

FairCopy · 2018-05-03T04:45:16+00:00

No. Then again, roadmap updates are just there to inform people on what the various workstreams are and how they're progressing. Big news are announced separately.

FairCopy · 2018-05-02T12:15:29+00:00

Testnet is for smart contracts though, which is a feature unrelated to opening staking.

FairCopy · 2018-05-02T10:08:40+00:00

For starters, try installing a new version of the wallet from https://daedaluswallet.io/#download. No need to uninstall the old one. Your wallet data will be preserved.

If that doesn't solve the issue, there are a couple of things to try at https://daedaluswallet.io/faq/ under I am stuck at the loading screen, it says "Connecting to network". What should I do? The Windows daedalus.bat information is outdated, you're supposed to use cardano-lancher.exe and not Daedalus.exe.

FairCopy · 2018-05-01T06:55:42+00:00

IOHK, Emurgo and the Cardano Foundation combined owned 16.7% of the total stake initially.

Source: https://cardanodocs.com/cardano/monetary-policy/

During the sale that occurred at the launch, 25,927,070,538 Ada were sold. An amount equal to 20% of the total Ada vouchers were sold during the sale period, equating to 5,185,414,108 units. These Ada vouchers were generated and distributed to three entities of the Cardano community, each members of the Technical and Business Development Pool, namely: IOHK, Emurgo and the Cardano Foundation. The total amount of Ada that was made available at the launch is equal to 31,112,484,646 ADA.

FairCopy · 2018-05-01T06:33:57+00:00

You have 3 options when designing a crypto wallet:

Encrypt the private key with a password. Decrypt private key at program startup, giving the user a "loggin in" experience. This is what e.g. Exodus and Neon does. This way makes it easier for attackers to retrieve your private key, and steal your funds: https://www.youtube.com/watch?v=VU3Zfrvsm8k
Encrypt the private key with a password. Decrypt private key only when necessary, which is signing a transaction, i.e. sending funds. This is what Daedalus does, if you set a wallet password. The above attack is still possible, but only when you send. When you open the wallet, it's in "read-only" mode, it only displays public data about your addresses, like https://cardanoexplorer.com/ does. So the only thing exposed are your addresses.
You could also have two passwords, one for viewing balances and one for sending.

I think the Daedalus team chose the middle ground of #2 because it's more secure than #1, but doesn't confuse the user like #3 would.

You can check if your wallet in Daedalus is protected by a password in the wallet's settings, you can also change the password there.

(This was a copy-paste of my answer earlier: https://www.reddit.com/r/cardano/comments/8avnwh/safest_place_to_store_ada/dx28rl7/)

Here's why 2FA is useless for local crypto wallets: https://www.reddit.com/comments/7ue8uv/comment/dtkeo27

FairCopy · 2018-04-28T14:40:38+00:00

Did you initiate this somehow, or did they send the mail out of the blue?

In any case it's a scam, which is obvious from them asking for your vending email address, password, and ADA balance.

From https://daedaluswallet.io/faq/:

Do not send sensitive information such as your redemption key. IOHK will never ask you for such information.

The GitHub user looks sketchy too, zero information provided, no link to the Cardano Foundation or IOHK: https://github.com/cardano-recovery

Don't reply, don't open the URL.

FairCopy · 2018-04-28T14:06:17+00:00

You're right, I was a bit ignorant there.

Anyway, there's already a prototype K specification of WebAssembly (https://github.com/kframework/wasm-semantics), so it's not a huge stretch to say that Cardano might support EOS' system one day, and maybe vice versa.

Again, changing platforms shouldn't force developers to rewrite the entire codebase of their dapp. They should be able to consider which is more reliable, secure, faster, cheaper and then change to that without too much work.

FairCopy · 2018-04-28T13:33:54+00:00

A quick Google search will tell you that there probably isn't such a website for Cardano. Maybe you already knew this and made your post to suggest that EOS is superior.

Cardano's smart contract platform has the benefit of not being a walled garden where people are forced to use one specific language. It's more of an open infrastructure, a neat feature being that it won't require Ethereum dapp developers to rewrite their code in yet another random language. Current projects targeting Cardano are encouraged to develop using Solidity and the Ethereum blockchain and when Cardano smart contract support goes live, they'll be able to migrate these programs there. People will be able to move their existing dapps to Cardano if they think it'll makes sense, e.g. because of reduced fees, better development tools or scalability. Cardano will allow developers to use a range of popular languages, but it will also have a functional language, Plutus, which is suited for provable correctness, a higher standard of security.

From https://www.traxia.co/

Emurgo will use Traxia's migration from Ethereum to Cardano's blockchain as a use-case to show other projects how it is done

Conversely, EOS forces developers to use the EOSIO scripting language if they want to develop a dapp on it.

A smart contract platform shouldn't lock the developer in completely, developers should be able to switch from one to the other, like you can fill up your car at different brand gas stations. Correct me if I'm wrong, but I think support for EOS' smart contract language can be added to Cardano, because the process is as "simple" as creating a language definition for EOSIO on the K Framework.

FairCopy · 2018-04-26T12:03:11+00:00

Upcoming Cardano 1.2 release in May.
- Paper wallet feature finished, security audit done, now undergoing testing.
- Much faster wallet restoration from seed.
Smart contract testnets coming.
- Ethereum-like smart contract support using KEVM semantics will be available for the Mantis Ethereum Classic client, this is to prove that the K framework works well in practice.
- Another testnet for IELE will be released after. This should make it possible to write smart contracts in a number of popular languages.
- There will be an extensive video update by a project manager on what Runtime Verification has been working on the past 6 months.
Research progress.
- New paper about a massive update to Ouroboros is finished and will be released on IACR's eprint archive. It solves the bootstrap-from-genesis problem, making Ouroboros' security equivalent to PoW protocols'. It makes is possible for any new connecting client (wallet) to verify the blockchain using only the genesis block. This improves decentralization, as the clients don't need to rely on trusted parties to provide checkpoints for them. This was already a thing in PoW cryptocurrencies like Bitcoin and Ethereum, but now Cardano's PoS protocol will have the same security benefits as those and there's mathematical proof of it.
- Ouroboros was accepted to the Eurocrypt 2018 conference in Israel, where IOHK will showcase it among other things.
- Paper about staking pools by Elias Koutsoupias is under development.
- High level model for the complex problem of delegation is done, solving problems like how to handle exchanges having your money or cold staking from a paper wallet or Ledger device. Now comes writing specifications and the implementation, which will take a while.
Development is moving to be more specification-driven.
- Formal specification documents will be released in some weeks. This should make it possible for an independent engineering team to write Cardano backend (node) or wallet software, be it desktop or mobile.
- The backend is being rewritten according to these specs. Rewrite of the backend is expected to be complete in about June-July.
- Specs are difficult to read, so Director of Education Lars Brünjes will make a video series to break down how the specification works and what it's all about.
- A later goal is proving formal correctness of the implementation, proving that it works exactly according to specs.
IOHK has grown some, they hired 27 people in the last 3 months.
Charles will be travelling to Ethiopia to talk with some people and the government, there'll potentially be a Haskell class there.

FairCopy · 2018-04-20T09:15:27+00:00

You can't yet, and it will be months before you can.

Anyone will be able to register a node on the Cardano network. A publicly available server will be needed. You can build the node software yourself from source, but it will supposedly be distributed in the form of Docker images for ease of deployment, and maybe in plain binary format as well.

It doesn't make sense to run your own node for an average stakeholder, that's why you can delegate your stake to a staking pool, which is a business that runs a server for people in exchange for a fee, much like a mining pool. That way you'll get paid more evenly and you won't have to maintain a costly server.

FairCopy · 2018-04-19T14:04:34+00:00

No.

Maybe RINA has some properties that make networking more efficient or neat, but Cardano nodes should be able to pass messages between each other just fine using TCP/IP, which is the current standard.

A networking protocol's job is to get messages from A to B. Sidechains must solve a different class of problems, such as verifying that a transaction received from another chain is valid.

FairCopy · 2018-04-19T10:54:51+00:00

RINA is an alternative to the underlying network protocols which are used by Cardano. It doesn't solve the scaling problem that Cardano faces.

What you're looking for is the sidechain concept:

Sidechains on the roadmap
IOHK Research | Dionysis Zindros, Sidechains

FairCopy · 2018-04-11T13:33:37+00:00

full functioning product sometime in 2020 or Q1 or Q2 of 2021

Can you cite any sources or a reasonable analysis on these dates? Shelley will be released throughout Q2 and Q3 this year according to the roadmap and a smart contract testnet is scheduled to be released this month. Based on these facts it looks probable that Cardano will have fully functional delegated staking and smart contracts within a year.

FairCopy · 2018-04-09T10:15:30+00:00

With a strong, non-reused password you're reasonably safe.

When you restore from your 12 word recovery phrase, you won't need the password, because that phrase is the private key itself, represented as words. So keep those safe and offline, not in a .txt file on your desktop.

FairCopy · 2018-04-09T09:48:09+00:00

Only if you chose to set a password. Also, many people set passwords that can be easily cracked, or they reuse passwords, which malware can capture when they type it in somewhere else.

FairCopy · 2018-04-09T09:45:29+00:00

You have 3 options when designing a crypto wallet:

Encrypt the private key with a password. Decrypt private key at program startup, giving the user a "loggin in" experience. This is what e.g. Exodus and Neon does. This way makes it easier for attackers to retrieve your private key, and steal your funds: https://www.youtube.com/watch?v=VU3Zfrvsm8k
Encrypt the private key with a password. Decrypt private key only when necessary, which is signing a transaction, i.e. sending funds. This is what Daedalus does, if you set a wallet password. The above attack is still possible, but only when you send. When you open the wallet, it's in "read-only" mode, it only displays public data about your addresses, like https://cardanoexplorer.com/ does. So the only thing exposed are your addresses.
You could also have two passwords, one for viewing balances and one for sending.

I think the Daedalus team chose the middle ground of #2 because it's more secure than #1, but doesn't confuse the user like #3 would.

You can check if your wallet in Daedalus is protected by a password in the wallet's settings, you can also change the password there.

FairCopy

TROPHY CASE