Cardano or Polkadot!? Which Will Flip ETHEREUM!??

Well it’s time to go back in time & do and
learn about the history behind some of crypto protocols in the top 10, who all spawned from
one….Ethereum. It’s time for Chico Crypto! So what are you talking about Tyler? Spawned from Ethereum in the top 10….ethereum
classic isn’t in the top 10…it’s number 38….well I’m not talking about etc, I’m
talking about number 8 & 9, Polkadot & Cardano. And the question of all 3 is, who's gonna
prove their stake? But first, let’s get into the history. Ethereum was founded in 2014, and the story
to it is deeper than just Vitalik creating the protocol and running an ICO.

Yes Vitalik came up with a large majority
of the technical ideas, yes vitalik was the brains, but there was a founding team, multiple
members..including Charles Hoskinson now the face of Cardano & Gavin Wood, now the face
of Polkadot. So how did the splits happen & why? Why did Gavin & Charles leave? Well the first to depart was Charles, in 2014. Decrypto covered it in their cover article
about Camila Russo’s book going into Ethereum’s history, the Infinite machine. Decrypt said “But, she (Russo) said, “the
most important moment in shaping Ethereum going forward in the early days was deciding
that it would be a nonprofit foundation.” Some of Ethereum’s founders, most notably
then-CEO Charles Hoskinson, wanted to build a company on the open-source protocol, a “crypto
Google,” as some interviewees described it to Russo. Others, particularly Buterin and his early
collaborator Mihai Alisie, were more inclined towards a non-profit. A fateful meeting in Zug, in 2014, sealed
the platform’s destiny, and Russo stitches together the multiple accounts to paint a
tense, emotionally charged situation that led to the departures of Hoskinson and Amir

The exact circumstances have been the subject
of much conjecture, but Russo says that nearly all the founders told her the same story” So a major difference in vision, led to a
departure…non profit, community focused…Vitaliks vs. the crypto google aka a corporate vision
Charles.. once a friend to the ethereum community…after 2014 he was no more. He went on to try and compete with Ethereum.. So what about Gav? Well Gav contributed technically, a lot more
to Ethereum..he was basically brains #2 behind ethereum…he invented the solidity programming
language, and wrote the yellow paper specifying the ethereum virtual machine…which are still,
2 massive pieces to the ethereum chain to this day.

Thus Wood served as Ethereum’s CTO, chief
technical officer all the way up to January 2016, until he departed from that role with
this blog post…so did Gav leave the Ethereum ecosystem? No, unlike Charlie, Gavin stayed within the
ethereum ecosystem, starting his own ether tech and infrastructure companies, including
Parity. He’s contributed since 2016, to countless
developments, and infrastructure improvements…even today, 4 years since his departure, his parity
ethereum client, which is now open ethereum is the second largest ethereum client, which
the two combined make up 15 percent of total clients used in the ethereum ecosystem. And aint it a scitamarink a quink-a-dink that
Charles has a client of his own within that pie chart too..way down the list, with only
9 ethereum nodes running the client…Mantis. So, here is a nice place where we can make
a distinction between the two, Gavin and Charles.

The Clients the two have built…and what
exactly was the goal of each client. Gavin’s Parity aka open ethereum vs Charles’s
Mantis. Well just based on developer and nodal support,
Gavin’s Parity is much, much more liked within the ethereum ecosystem, as it controls
much more of the pie… Many of you would say, but Charles is working
on Cardano what the freak is Mantis? An Ethereum client? Well actually no, but yes…it was made as
an ethereum classic client.

Back in 2017, August to be exact, pre peak
bubble hype, the ethereum mantis client was released. And you wanna know what’s HILARIOUS about
that, is this client was even released before the ADA token, which got delayed, and delayed
again until september 2017. But thats here nor there… So it wasn’t made to help the ethereum community,
it wasn’t made to help the cardano community, it was made to hurt ethereum, and help the
ethereum classic community. So has it helped Ethereum classic? Well going to their node chart, it’s even
less used over there, only 2 nodes running the client, the least used client of all….

So noooo, no one is using it over there either…but
that has to be because they gave up on ethereum classic right? They switched gears to full on Cardano ADA? Wrong…they still support this bullcrap for
some reason…literally in just 2 days, they will be giving a presentation on the updated
mantis client and wallet….just in August they were still trying to get a treasury proposal
passed, changing ethereum classic for good….literally a similar proposal to which almost got him
ousted of the ETC community in 2017, covered heavily and he even apologized for it in a
long winded blog post.

So, I don’t get what the freak is going
on over there with ETC, but a relationship is still there, even though his products are
not used, and half the community is split on if he should even be there, or if the “treasury”
proposal should be passed. So a couple of clients have been created by
each since their “departures” from Ethereum, and Gavin Wood smokes Charlie in that domain…But
the clients are just that clients, they also both went on to do “bigger” things…. In Gavin’s departure, blog post he hinted
at it..he said “I’ll be working to make The Dream a reality as part of a sparkly new
venture, which linked to his dream post, the precursor for Polkadot… And Charles went on to found IOHK…the precursor
and development arm behind the chain Cardano and this is why I said…who is gonna prove
their stake? It’s all about that proof of stake my friends. Because here is a little history tidbit, Ethereum
when launched was originally thought of to be a proof of stake blockchain.

Here is vitalik’s slasher post in January
2014…but by the end of the year, October, they decided against it, and opted to stick
with proof of work, and the ETHash algorithm… Now look at the top, who Vitalik thanks for
their research into proof of stake…Vlad Zamfir, still to this day lead researcher
for proof of stake…now check out this blog post by Vlad, about the history of Casper…here
we can see, Vlad was taught Merkle trees by vitalik in 2014, they submitted projects to
a hackathon then, and Charles hoskinson offered them the he was the CEO at the time… So, my question is this, was the departure
of Charles only because of differences in business decision opinions, or did it come
down to proof of stake? You look into the blog post, from Vlad it
says May 2014, was the first time Vitalik expressed interest to him in proof of
you can see, it was Charles that offered them the jobs the month before April 2014.

When did Charles Hoskinson leave Ethereum?? According to Forbes, June of 2014…this all,
happened in a matter of months, slasher proof of stake put forward by vitalik January of
2014, Vitalik and Ethereum team including Chartles meet vlad early April 2014, Charles
hires vlad April of 2014, Vitalik and Vlad discuss proof of stake May 2014, June 2014
Charles leaves ethereum, and October of 2014 proof of stake and slasher is ruled out… Hrmmmmm? So there isn’t much information about the
true reason for the departure of Charles from Ethereum, so you can only theorize, but it’s
possible a contributing factor was Charles was pushing for proof of stake, when Vitalik
wasn’t 100 percent sure about it’s safety….Which would make sense, as Charles before coming
to Ethereum, was a part of the founding of another crypto protocol, Bitshares, which
used a delegated proof of stake consensus.

And this reply by Charles on reddit, makes
me think that could be true. 2 years ago, Charles replied to a reddit post
in the EOS telegram asking why he was always throwing shade at Dan Larimer founder of bitshares,
and his new project EOS…charles said stuff about their internal fighting, but also he
said Dan accuses them of plagiarizing DPoS with Ouroboros. Like I said it all comes down to the stake…Ouroboros,
is ADAs proof of stake consensus algorithm…and you may be saying about right now..

How does
Gavin Wood’s polkadot fit into all of this? Through Ouroboros my friends Polkadot’s underlying consensus algorithm
is called BABE, and as we can see for the Polkadot Wiki, it says “BABE (Blind Assignment
for Blockchain Extension) is the block production mechanism that runs between the validator
nodes and determines the authors of new blocks. BABE is comparable as an algorithm to Ouroboros
Praos, with some key differences in chain selection rule and slot time adjustments. BABE assigns block production slots to validators
according to stake and using the Polkadot randomness cycle” Yes Ouroboros, was the inspiration for Polka
Dots babe, the underlying consensus. But what they did was change it…and Polkadot
explained it better than I can. In October they tweeted “"BABE is a PoS
protocol, designed similar to Ouroboros Praos, except it does not depend on any central clock” Which is true, Cardano’s Ouroboros relies
on a central clock…which is seen just 7 days ago from a post on the Cardano Forums..with
this post “System time sync issue, causing relay wreck”..and some replies in the post
“Thanks for pointing this out.

Does the Cardano consensus protocol depend
on NTP to work at all? Can an attack on NTP bring down the Cardano
chain? And someone else replies “My understanding
is that external time dependency and attacks will be solved with the move to Ouroboros
Chronos…yes the paper is out there, the research, and some coding, but it is not implemented
into the main chain. Sooo, out of these 3..where do they all stand
with their stake? Well the similarities between the 3..their
staking chain is live, limited functionality, with no smart contracts. But decentralization, it all comes down to
that, who is the most decentralized? Most centralized, it seems Cardano, as it
relies on that central clock to this day although it does have over 1300 staking pools In the
middle? Polkadot, as of now it only has just over
250 validators, less than Cardano, but it does not rely on a central clock. What about Ethereum? Well it tis the most decentralized, with over
25 thousand active validators.

I’ll be one in just a few days. But regarding this stake…ouroboros, Babe
vs. ethereum’s proof of stake with casper finality…which one is better? Well only one debate has gone down between
Vitalik and Charles, 2 years ago on Reddit…that is the only discussion between the 3. The post was titled “Vitalik allegations
against Ouroboros” and it referenced his alleged failings of Ouroboros he posted in
the Ethereum subreddit then. Well Charles came to the defense, giving his
thoughts…and Vitialik did respond with his thoughts, but then it ends…Charles did not
respond, and as you can see Vitalik was just trying to understand it… he said that below
after no answer to his reply… Although someone does step in, semihonest
who says they are one Aggellos students, the creator of Ouroboros…and as you can see
they agree with Vitalik’s points, that they were valid attacks & points being brought
up… So I’m no consensus algorithm researcher,
I’m no developer…I just see and display, with a dash of my own thoughts of what went
down in history.

My stake is going with the most decentralized,
and that’s ethereum and polkadot right now. Cheers I’ll see you next time!.

You May Also Like