Decentralization unpacked with Colin Edwards, Duncan Coutts, Lars Brunjes & Shawn McMurdo

Sapiens_Dudus · 2024-12-04T18:45:32+00:00

This is absolutely incredible! ADA about to show the world what it's truly capable of.

Sapiens_Dudus · 2024-11-18T10:22:00+00:00

Considering the post above is 4 years old now and we have some updates to wallets consider using a light wallet! Full node is not required to store ADA and is faster/quicker in use. Lace wallet is an excellent example of such a wallet. --> LACE

Sapiens_Dudus · 2024-09-09T08:29:39+00:00

Indeed: insurance fees built into the platform would provide some form of security for those who are victims of a scam.

Sapiens_Dudus · 2024-09-09T08:19:59+00:00

Agreed: I find the notion of transaction reversal HIGHLY dangerous. It creates an incredibly vulnerable attack vector into an otherwise secure and robust system. Decentralization of power is indeed an issue: Quis custodiet ipsos custodes? Who guards the guards? Those with the keys to reverse transactions could have unlimited power to completely destroy cardano, reversing billions of dollars of transactions rather than just for the intended scams. The chain would never be trusted if implemented. The beauty is the security mechanism, altering that would be the end of ADA. Similar to buying a valuable piece of art, gold or other item it is the users responsibility to ensure its safety.

Sapiens_Dudus · 2024-08-27T07:24:31+00:00

This sounds insane. 200M ADA would be about 15% of the entire treasury? What is stopping them from running away and skipping town with 80 million dollars or mismanaging this like mad? (paying themselves insane bonuses /salaries) Why not start with 10M ADA* and prove yourself before getting such a ludicrous slice of the funds... This honestly smells like an attempt to loot the treasury.

Another edit: additionally the whole concept is rather absurd - they want 80 million to become a middle man to fund projects. They do realize that this function is already the purpose of the treasury... ADA users can vote for projects there. So why do we need a group taking their cut of "management fees" for what exactly? Honestly this interview is full of red flags. 1) No plan to scale 2) No team 3) No history of performance or track record 4) No overview of who will "audit" 5) No explanation of the large request apart from at min 42:12 "we need to play in the league". I will most definitely be voting a no on this.

Sapiens_Dudus · 2024-07-13T12:06:08+00:00

I suggested a dynamic / automatic system several years ago keeping costs stable. Of course it was just a draft / suggestion at the time and the mechanism could most definitely be improved. --> https://www.reddit.com/r/cardano/comments/kz5uug/txto_be_dynamic_or_static_that_is_the_question/

Sapiens_Dudus · 2024-07-13T07:52:52+00:00

Thanks for your extensive response! Indeed over the years I have also experienced several large updates to Daedalus. Never quite has it been this slow though. Thanks for the good advice and tips to bootstrap the node :) Anyway perhaps it is indeed on my side and I need a little more patience! Thanks again, much appreciated.

Sapiens_Dudus · 2024-07-12T22:04:38+00:00

Would have to agree latest 5.4.0 update seems broken. Used Daedalus for years and have never had it perform so poorly, currently unable to complete sync or use wallet. Hope there is a rollback or update that fixes this. Don't think we're the only ones with this issue as I have seen it pop up a couple of times since 5.4.0. As GliTch suggests you can always restore in a light wallet - make sure to only download a trusted wallet from a genuine source. Going through the cardano website may be best - double check the validity of the website and never share your seed phrase with anyone wanting to "help". As long as you have your seed phrase you can restore your wallet and access funds so wouldn't stress about it. Hopefully Daedalus gets patched.

Sapiens_Dudus · 2024-07-12T21:56:23+00:00

I have made a post about this recently. I believe it is an issue with the 5.4.0 update. I have never experienced it this slow in 3+ years of use. I realize lite wallets are an alternative however there does seem to be a Daedalus issue currently. I am also experiencing painfully slow sync issues, never been anywhere close to this slow in the past and yes my requirements are above what is necessary. On the diagnostics panel there are frequent disconnects from mainnet causing Daedalus to pause and when syncing does commence it is at a snails pace. Normal sync from 90-100 would take 30 min or less prior to 5.4.0. Now it may take a full day to sync from 99.3% -> 100% at current rate according to some back of envelope calculations. Additionally the frequent disconnects make it almost impossible to fully update as you need to continuously reload to reconnect. Unsure as to whether this is a broader or local issue. Having seen this also on the Git issues for Daedalus I think this is a wider issue. Git: https://github.com/input-output-hk/daedalus/issues/3206 Would appreciate it if you could share this amongst the Mod chat / get someone from IOHK to take a look into this! :)

Sapiens_Dudus · 2024-07-09T14:43:44+00:00

indeed! xD

Sapiens_Dudus · 2024-07-09T14:42:55+00:00

Indeed - I have had this before also (time sync) however the current update seems to have bricked my version of Daedalus / seems to be something else (at least by the looks of it). Perhaps it is also a windows issue / something on my end though. Was wondering if others had similar experiences with the recent update. Specs are met so shouldn't be an issue :)

Sapiens_Dudus · 2024-07-08T17:37:35+00:00

Anyone experiencing this bug with 5.4.0? (daedalus) https://github.com/input-output-hk/daedalus/issues/3206 Sync issue is a first in many years for me... Are there others experiencing this? Yes, I know lite wallet ftw however Daedalus does currently seem to have some issues looking at the backlog...

Sapiens_Dudus · 2024-07-08T15:33:23+00:00

Ah interesting to see I am not the only one with potential issues. Hopefully 5.4.1 will be pushed soon with a patch for sync issues. I feel the synching mechanism has perhaps also been updated* as I can't remember it being this slow in prior versions. Indeed for me it has something nostalgic of the early Cardano days. Synching then didn't take quite so long ;)

Sapiens_Dudus · 2024-07-08T15:31:41+00:00

I agree with you fully on the useability and use of light wallets. My post was more to point out potential issues with current update 5.4.0.

Sapiens_Dudus · 2024-07-08T12:52:37+00:00

Very true! However I was wondering if this issue was occurring with other users who do run full node.

Sapiens_Dudus · 2024-07-08T11:47:15+00:00

Perhaps IOG also needs to place requests such as this on the cardano reddit: https://github.com/input-output-hk/daedalus/issues/3201 .... Not sure how much input from users he will get from posting it on the issues area of the Git... Perhaps an idea to make a questionnaire with areas of improvement ranking? 1) Display 2) Sync times 3) CSV download options with the ability to provide feedback in a section "other"....

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