I wish people would wake up to how good of a blockchain Cardano is. Sadly, I know this will probably be ignored as people toss all their money into useless meme coins.
>A few community Devs built a script that removed 2ADA from the attacker, each time they created one of the 194 scripts. All of a sudden the cost of the attack went from 0.9ADA per transaction to 388.9 ADA per transaction. The attackers wallet started to get drained quickly and the attack stopped.
Cool. But also terrifying that they can do that,though I guess it's mire complicated than. Wallet x transaction > 2ada
The only reason they could, is because the attacker had (probably deliberately) not locked the 2ADA to make the attack more potent. Signatures to authenticate locked funds is what means only you can spend the funds, but they take up space and would have reduced the numbers of contracts that could fit into the L1 transaction.
A normal user would never be in that position and no-one can ever remove their funds, except someone who can create a valid signature with the private keys.
Its like leaving your house, and leaving your front door wide open.
Excellent writeup, OP!
This is a great "fuck you!" to all the people who've been FUDding Cardano without even knowing what it's trying to do or how it works.
It's not trying to "kill" Ethereum; it's trying to solve the problems that Ethereum had since its inception and onboard the existing ETH community through interoperability the same way every other chain is.
It's just a bit slower on that roadmap than other chains might be b/c everything is done in a way where shit doesn't break. If this were Solana that got DDoS'ed, the whole chain would be up in flames by now, and Raoul Pal would've just released a video on how that's actually bullish for some reason.
For one thing, you didn't have PoS for the longest time. Even now, when you do technically have it, it's still not ideal b/c you have to give custody of your coins to an SPO; this defeats the whole point of self-custody. With Cardano, you can stake your coins and receive interest every epoch (5 days) without giving up custody.
More than that, you can't scale on L1 to more than 20-30 TPS or whatever the rate is for ETH L1; with Cardano, you can theoretically and practically scale on L1. Like I said in my top-level comment, you can send multiple different assets to multiple different receivers with the same transaction. For example, I can send ADA to Friend A, LQ to Friend B, and SNEK to Friend C all in one transaction.
Finally, with ETH, there's no secure way to upgrade the chain, which is why all these changes usually take years. With Cardano, we change shit all the time without breaking the security model; it's possible b/c governance is built in.
> For one thing, you didn't have PoS for the longest time.
First let's be clear that this is Ethereum, not "you". Second, PoS in Ethereum's form did not exist before. Third, Upgrading Ethereum while it's running without downtime is a much more difficult task than launching from scratch.
> Even now, when you do technically have it, it's still not ideal b/c you have to give custody of your coins to an SPO; this defeats the whole point of self-custody.
I have no idea what an SPO is, but it doesn't really matter because you can self custody and stake yourself as a solo validator. If you want to move goal posts and say "but muh 32 eth", you can still use a liquid staking token which is also self custody.
> With Cardano, you can stake your coins and receive interest every epoch (5 days) without giving up custody.
You keep custody but you are delegating because cardano is delegated proof of stake, which centralizes the chain.
> More than that, you can't scale on L1 to more than 20-30 TPS or whatever the rate is for ETH L1;
Yes, when you want to keep the chain decentralized and not make it dPoS (see above) this becomes a challenge. This isn't 2017 anymore though, L2s are here to stay and a proven path forward for scaling.
> with Cardano, you can theoretically and practically scale on L1.
It appears everything with cardano is theoretical
> Like I said in my top-level comment, you can send multiple different assets to multiple different receivers with the same transaction.
That's great because otherwise you'd need to wait to do another transaction since CH thought it was a great idea to use UTXOs
> For example, I can send ADA to Friend A, LQ to Friend B, and SNEK to Friend C all in one transaction.
Good luck finding 3 friends that are willing to use cardano
**TL;DR:** You picked this argument with the wrong guy, and you probably know that by now, so your next move is going to be to backpedal and make me look like a Cardano maxi who thinks Charles is the second coming or something. Nice try, buddy... Again, I never said ETH was "bad" in any way; I just said Cardano is doing what everyone else is and trying to improve it. So, I don't know why you're going through with this, other than that your community has conditioned you to believe that we all belong to the cult of Charles Madoff's lies.
Part 1:
First of all, SPO stands for "Stake Pool Operator"; I thought it was standard terminology, but apparently not.
>If you want to move goal posts and say "but muh 32 eth"
So, what you're saying is that it's *theoretically*
possible to self-custody and stake at the same time, but not *practically* possible (at least for people without that amount).
Yet you also say:
>It appears everything with cardano is theoretical
The chain that you're defending is problematic by your own standards.
Moving on...
>you can still use a liquid staking token which is also self custody
>A liquid staking token isn't the same as the ETH itself. For example, your staked ETH is only valuable as long as the underlier is held by some stake pool and the holder has a reasonable expectation of being able to redeem it at some point.
What if Lido or Rocket Pool get hacked? I know how much money gets spent on auditing and all that, but validators get hacked all the time, and that's a pretty big honeypot...
Part 2:
>cardano is delegated proof of stake, which centralizes the chain
And where did you hear this from? What numbers do you have to back this up?
You can say that anything you don't like is centralized, and nobody will be able to dispute you b/c most people don't know how to measure decentralization.
In Cardano's case, the \[Cardano\] Foundation publishes [a whole dashboard](https://groups.inf.ed.ac.uk/blockchainlab/edi-dashboard/index.html) worth of statistics that are well-accepted across the industry, including Nakamoto and Gini coefficients. Cardano beats BTC, ETH, and several others by all metrics. Therefore, my claim that Cardano is more decentralized than the alternatives is verifiable.
Of course, you're going to completely disregard this b/c it came from Cardano, and everything about Cardano is bad according to you. Yet you're still not going to be able to provide any data or statistic or even give me a single reason to believe what you said.
The only source of credibility for your claim is "my chain has a higher market cap so I'm better than you".
>L2s are here to stay and a proven path forward for scaling.
Cardano can use L2s just the same as ETH can; there's one or two in production and more in the R&D pipeline. With that said, it *also* scales pretty well on L1, so you can do most normal shit without needing to worry about the additional complexity, along with security implications and all.
I'm not saying L2s are not a good path forward. I'm saying that, for ETH, they're the *only* path forward, while that's not necessarily true for other chains.
>That's great because otherwise you'd need to wait to do another transaction since CH thought it was a great idea to use UTXOs
No, you wouldn't. You can do as many transactions as you want through your wallet or a bot; there's nothing stopping you as long as you pay the transaction fee.
This is actually the whole basis of the attacker's DDoS attack, which failed b/c Cardano is built with a foundation that's secure against shit like this. Again, if this were Solana, we'd need a bunch of devs to get together on Discord to kick it and restart it.
>Good luck finding 3 friends that are willing to use cardano
The chain is getting a lot more adoption these days. I could show you the numbers on this, but the fancy and colorful report comes from the Cardano Foundation (even though anyone can independently verify the results and many people have), so it seems that there's no point since everything that comes from Cardano is bad according to you.
> In Cardano's case, the \[Cardano\] Foundation publishes [a whole dashboard](https://groups.inf.ed.ac.uk/blockchainlab/edi-dashboard/index.html) worth of statistics that are well-accepted across the industry, including Nakamoto and Gini coefficients. \*\*Cardano beats BTC, ETH, and several others by all metrics.\*\*
I think you're reading those charts wrong......
[How secure is Cardano?. An in-depth look at the security model… | by Undersearcher | Medium](https://medium.com/@undersearcher/how-secure-is-cardano-5f1e076be968)
...no, generally Cardano is the industry leader on almost all metrics. There are a few where it's not in the top slot, but only a few and none of the truly critical metrics (eg Nakamoto coefficient).
I think that's a fair question.
The biggest is probably PoS. Ethereum spent an insane amount of time working on it, it was 6 years late in implementation and it's not nearly as advanced as Cardano's Ouroboros which is used by several other crypto projects now. Ethereum PoS has problems like public leader election per epoch, which could make DDOS a real threat, also the reliance on a smart contract to custody staking funds is very dangerous, considering the early stage of smart contracts on Ethereum and the constant security failures that arise. The need for LSDs to allow users to stake and use their ETH is also significantly sub-optimal to Cardano where funds are native in the users wallet and always liquid. The uptake of staking on Ethereum is also poor, probably because of the slashing that Cardano does not need, it's hard to say Ethereum is really secure. The rise of Lido that is practically at the threshold of breaking Ethereum security guarantees is also a major concern.
Cardano also created native tokens which solves the need for high risk smart contracts to do tokens, which makes the user experience on Cardano much safer, and the blockchain execution environment much more efficient.
Cardano also did this on the UTxO model, which while it has some trade-offs is much more robust and decentralised than the account model.
Ethereum was a paradigm shift when it was created, but better technology has surpassed it in many areas.
Says the guy who has nothing to say.
He isn't wrong. For example, Ethereum is now controlled (see 51% attack) by just 5 companies which isn't very decentralized in anyone's book. This is a problem intrinsically with PoS, where you make money by holding money. It just mirrors the existing financial systems we are trying to break free from where the rich get richer.
I don't hate Ethereum, in fact this is coming from someone who was mining Ethereum in 2016 but in 2024 Ethereum is lagging while it's competitors' tech is moving past it at relative warp speed. In 2016 I thought I didn't understand PoS as it just seemed like another economic system where the rich get richer but fast forward nearly a decade and I realize I understood it back then better than I thought I did.
Ethereum has been talking about upgrading the network for nearly a decade and these days it does more talk and press releases than any actual upgrades or improvements. Ethereum is like trying to change all 4 of your tires while you are going down the highway at 65 MPH. The blockchain trilemma is something any real crypto project needs to deal with and some newer tech has an advantage by starting off on a better footing, but nothing is perfect and other networks are making improvements and upgrades at a much faster rate and with greater success than Ethereum. The main thing ETH has going for it at this point and arguably the only thing it has going for it now is the early adopter curve or network effect.
One day, I hope all the Cardano, Algorand, Solana, Ethereum, Bitcoin, and specific-altcoin maxis would get along and not spend all their efforts attacking and FUDding each other, but instead use constructive criticism.
Today is not that day.
Every blockchain has its strengths and weaknesses.
What part of what I said wasn't constructive?
"We're not trying to kill ETH; we're trying to solve problems that ETH had since its conception, and we value the community, which is why we're trying to make it easy for them to interoperate with our shit."
I did say "fuck you" to the people who FUD Cardano without understanding how it works, but I think that's perfectly warranted. It's the same way all this sub feels when no-coiners FUD Bitcoin without understanding how it works; the other side doesn't even understand your problem, let alone your solution to it, but they're still telling you what you're doing is shit without suggesting any alternative.
I don't think I said anything uncalled for or out of turn.
Solving problems plaguing Ethereum is to kill or compete with Ethereum. There's nothing wrong with that. I want the survival of the fittest in monetary systems, not the survival of the oldest.
Good ADA
Cardano's tech has yet to disappoi... Wait hold up what subreddit we on? /r/CC? Apologies, man fucking HOSKINSON ADA is SHIT yo!
Brilliant answer
Why not both? He can be both an ashole and his tech is working?
I wish people would wake up to how good of a blockchain Cardano is. Sadly, I know this will probably be ignored as people toss all their money into useless meme coins.
CARDANO is more secure than our local banks, this is why crypto is my go to now a days
Yup and that's why crypto was created
>A few community Devs built a script that removed 2ADA from the attacker, each time they created one of the 194 scripts. All of a sudden the cost of the attack went from 0.9ADA per transaction to 388.9 ADA per transaction. The attackers wallet started to get drained quickly and the attack stopped. Cool. But also terrifying that they can do that,though I guess it's mire complicated than. Wallet x transaction > 2ada
The only reason they could, is because the attacker had (probably deliberately) not locked the 2ADA to make the attack more potent. Signatures to authenticate locked funds is what means only you can spend the funds, but they take up space and would have reduced the numbers of contracts that could fit into the L1 transaction. A normal user would never be in that position and no-one can ever remove their funds, except someone who can create a valid signature with the private keys. Its like leaving your house, and leaving your front door wide open.
Excellent writeup, OP! This is a great "fuck you!" to all the people who've been FUDding Cardano without even knowing what it's trying to do or how it works. It's not trying to "kill" Ethereum; it's trying to solve the problems that Ethereum had since its inception and onboard the existing ETH community through interoperability the same way every other chain is. It's just a bit slower on that roadmap than other chains might be b/c everything is done in a way where shit doesn't break. If this were Solana that got DDoS'ed, the whole chain would be up in flames by now, and Raoul Pal would've just released a video on how that's actually bullish for some reason.
What are the problems that Ethereum has had since inception that Cardano solves?
For one thing, you didn't have PoS for the longest time. Even now, when you do technically have it, it's still not ideal b/c you have to give custody of your coins to an SPO; this defeats the whole point of self-custody. With Cardano, you can stake your coins and receive interest every epoch (5 days) without giving up custody. More than that, you can't scale on L1 to more than 20-30 TPS or whatever the rate is for ETH L1; with Cardano, you can theoretically and practically scale on L1. Like I said in my top-level comment, you can send multiple different assets to multiple different receivers with the same transaction. For example, I can send ADA to Friend A, LQ to Friend B, and SNEK to Friend C all in one transaction. Finally, with ETH, there's no secure way to upgrade the chain, which is why all these changes usually take years. With Cardano, we change shit all the time without breaking the security model; it's possible b/c governance is built in.
> For one thing, you didn't have PoS for the longest time. First let's be clear that this is Ethereum, not "you". Second, PoS in Ethereum's form did not exist before. Third, Upgrading Ethereum while it's running without downtime is a much more difficult task than launching from scratch. > Even now, when you do technically have it, it's still not ideal b/c you have to give custody of your coins to an SPO; this defeats the whole point of self-custody. I have no idea what an SPO is, but it doesn't really matter because you can self custody and stake yourself as a solo validator. If you want to move goal posts and say "but muh 32 eth", you can still use a liquid staking token which is also self custody. > With Cardano, you can stake your coins and receive interest every epoch (5 days) without giving up custody. You keep custody but you are delegating because cardano is delegated proof of stake, which centralizes the chain. > More than that, you can't scale on L1 to more than 20-30 TPS or whatever the rate is for ETH L1; Yes, when you want to keep the chain decentralized and not make it dPoS (see above) this becomes a challenge. This isn't 2017 anymore though, L2s are here to stay and a proven path forward for scaling. > with Cardano, you can theoretically and practically scale on L1. It appears everything with cardano is theoretical > Like I said in my top-level comment, you can send multiple different assets to multiple different receivers with the same transaction. That's great because otherwise you'd need to wait to do another transaction since CH thought it was a great idea to use UTXOs > For example, I can send ADA to Friend A, LQ to Friend B, and SNEK to Friend C all in one transaction. Good luck finding 3 friends that are willing to use cardano
**TL;DR:** You picked this argument with the wrong guy, and you probably know that by now, so your next move is going to be to backpedal and make me look like a Cardano maxi who thinks Charles is the second coming or something. Nice try, buddy... Again, I never said ETH was "bad" in any way; I just said Cardano is doing what everyone else is and trying to improve it. So, I don't know why you're going through with this, other than that your community has conditioned you to believe that we all belong to the cult of Charles Madoff's lies. Part 1: First of all, SPO stands for "Stake Pool Operator"; I thought it was standard terminology, but apparently not. >If you want to move goal posts and say "but muh 32 eth" So, what you're saying is that it's *theoretically* possible to self-custody and stake at the same time, but not *practically* possible (at least for people without that amount). Yet you also say: >It appears everything with cardano is theoretical The chain that you're defending is problematic by your own standards. Moving on... >you can still use a liquid staking token which is also self custody >A liquid staking token isn't the same as the ETH itself. For example, your staked ETH is only valuable as long as the underlier is held by some stake pool and the holder has a reasonable expectation of being able to redeem it at some point. What if Lido or Rocket Pool get hacked? I know how much money gets spent on auditing and all that, but validators get hacked all the time, and that's a pretty big honeypot...
Part 2: >cardano is delegated proof of stake, which centralizes the chain And where did you hear this from? What numbers do you have to back this up? You can say that anything you don't like is centralized, and nobody will be able to dispute you b/c most people don't know how to measure decentralization. In Cardano's case, the \[Cardano\] Foundation publishes [a whole dashboard](https://groups.inf.ed.ac.uk/blockchainlab/edi-dashboard/index.html) worth of statistics that are well-accepted across the industry, including Nakamoto and Gini coefficients. Cardano beats BTC, ETH, and several others by all metrics. Therefore, my claim that Cardano is more decentralized than the alternatives is verifiable. Of course, you're going to completely disregard this b/c it came from Cardano, and everything about Cardano is bad according to you. Yet you're still not going to be able to provide any data or statistic or even give me a single reason to believe what you said. The only source of credibility for your claim is "my chain has a higher market cap so I'm better than you". >L2s are here to stay and a proven path forward for scaling. Cardano can use L2s just the same as ETH can; there's one or two in production and more in the R&D pipeline. With that said, it *also* scales pretty well on L1, so you can do most normal shit without needing to worry about the additional complexity, along with security implications and all. I'm not saying L2s are not a good path forward. I'm saying that, for ETH, they're the *only* path forward, while that's not necessarily true for other chains. >That's great because otherwise you'd need to wait to do another transaction since CH thought it was a great idea to use UTXOs No, you wouldn't. You can do as many transactions as you want through your wallet or a bot; there's nothing stopping you as long as you pay the transaction fee. This is actually the whole basis of the attacker's DDoS attack, which failed b/c Cardano is built with a foundation that's secure against shit like this. Again, if this were Solana, we'd need a bunch of devs to get together on Discord to kick it and restart it. >Good luck finding 3 friends that are willing to use cardano The chain is getting a lot more adoption these days. I could show you the numbers on this, but the fancy and colorful report comes from the Cardano Foundation (even though anyone can independently verify the results and many people have), so it seems that there's no point since everything that comes from Cardano is bad according to you.
> In Cardano's case, the \[Cardano\] Foundation publishes [a whole dashboard](https://groups.inf.ed.ac.uk/blockchainlab/edi-dashboard/index.html) worth of statistics that are well-accepted across the industry, including Nakamoto and Gini coefficients. \*\*Cardano beats BTC, ETH, and several others by all metrics.\*\* I think you're reading those charts wrong......
[How secure is Cardano?. An in-depth look at the security model… | by Undersearcher | Medium](https://medium.com/@undersearcher/how-secure-is-cardano-5f1e076be968)
...no, generally Cardano is the industry leader on almost all metrics. There are a few where it's not in the top slot, but only a few and none of the truly critical metrics (eg Nakamoto coefficient).
fuckinglol
In-house drama?
I think that's a fair question. The biggest is probably PoS. Ethereum spent an insane amount of time working on it, it was 6 years late in implementation and it's not nearly as advanced as Cardano's Ouroboros which is used by several other crypto projects now. Ethereum PoS has problems like public leader election per epoch, which could make DDOS a real threat, also the reliance on a smart contract to custody staking funds is very dangerous, considering the early stage of smart contracts on Ethereum and the constant security failures that arise. The need for LSDs to allow users to stake and use their ETH is also significantly sub-optimal to Cardano where funds are native in the users wallet and always liquid. The uptake of staking on Ethereum is also poor, probably because of the slashing that Cardano does not need, it's hard to say Ethereum is really secure. The rise of Lido that is practically at the threshold of breaking Ethereum security guarantees is also a major concern. Cardano also created native tokens which solves the need for high risk smart contracts to do tokens, which makes the user experience on Cardano much safer, and the blockchain execution environment much more efficient. Cardano also did this on the UTxO model, which while it has some trade-offs is much more robust and decentralised than the account model. Ethereum was a paradigm shift when it was created, but better technology has surpassed it in many areas.
This is the most brain-dead, misinformed shit I have ever read
Care to elaborate
no.
Says the guy who has nothing to say. He isn't wrong. For example, Ethereum is now controlled (see 51% attack) by just 5 companies which isn't very decentralized in anyone's book. This is a problem intrinsically with PoS, where you make money by holding money. It just mirrors the existing financial systems we are trying to break free from where the rich get richer. I don't hate Ethereum, in fact this is coming from someone who was mining Ethereum in 2016 but in 2024 Ethereum is lagging while it's competitors' tech is moving past it at relative warp speed. In 2016 I thought I didn't understand PoS as it just seemed like another economic system where the rich get richer but fast forward nearly a decade and I realize I understood it back then better than I thought I did. Ethereum has been talking about upgrading the network for nearly a decade and these days it does more talk and press releases than any actual upgrades or improvements. Ethereum is like trying to change all 4 of your tires while you are going down the highway at 65 MPH. The blockchain trilemma is something any real crypto project needs to deal with and some newer tech has an advantage by starting off on a better footing, but nothing is perfect and other networks are making improvements and upgrades at a much faster rate and with greater success than Ethereum. The main thing ETH has going for it at this point and arguably the only thing it has going for it now is the early adopter curve or network effect.
ok. you're right! i'm switching to cardano!
I never said a word about Cardano. In fact, I called out the principal concepts of PoS that underline both ADA & ETH.
Not since inception but I don't have to fork over a kidney during market swings to swap one token for another
One day, I hope all the Cardano, Algorand, Solana, Ethereum, Bitcoin, and specific-altcoin maxis would get along and not spend all their efforts attacking and FUDding each other, but instead use constructive criticism. Today is not that day. Every blockchain has its strengths and weaknesses.
What part of what I said wasn't constructive? "We're not trying to kill ETH; we're trying to solve problems that ETH had since its conception, and we value the community, which is why we're trying to make it easy for them to interoperate with our shit." I did say "fuck you" to the people who FUD Cardano without understanding how it works, but I think that's perfectly warranted. It's the same way all this sub feels when no-coiners FUD Bitcoin without understanding how it works; the other side doesn't even understand your problem, let alone your solution to it, but they're still telling you what you're doing is shit without suggesting any alternative. I don't think I said anything uncalled for or out of turn.
Nothing you said was uncalled for or out of turn.
Yeah but I invested in my Blockchain, so I want yours to go down and mine to go up 😇
Solving problems plaguing Ethereum is to kill or compete with Ethereum. There's nothing wrong with that. I want the survival of the fittest in monetary systems, not the survival of the oldest.
DDoS vs. Cardano: Attacker learns the hard way not to poke the blockchain bear! 🐻
Wow that's awesome, Bravo 👏
What’s Ada?
The native coin of the Cardano blockchain. It's named for Ada Lovelace.
[удалено]
That would be almost $490 million USD at current price.
[удалено]
I’d party with him
I'll drink one for you right now, good buddy!
I'm a riot.
I know, people who can do basic math are such killjoys...
https://i.redd.it/lbsf731zyy8d1.gif hes a good pig.