Cardano ADA News Update. 19th August 2024

00:00
Rare Evo looked absolutely insane and I have some highlights coming out from the event itself as in particular Doom running on Hydra that was absolutely amazing. We also look at this Lace Bug Bounty for a million USDM, yeah you can get your hands on that and we also look at Digitalis bringing in.ada domain names and also some updates from Iagon. All that coming right up for you in this episode. My gosh it looks like an amazing event from the after party. Look at these

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videos. It’s insane. The Rare Evo team put in so much effort to put this one together and it certainly shows. So absolutely amazing event guys. Hats off to you. Unfortunately, I couldn’t make it this year. Maybe next year I can make it. Now there’s so many events that happen there and highlights in terms of topics and conversations. So do check out the live streams. I’ll put a couple of links down below for you guys. I haven’t checked them out all myself yet.

00:55
I was busy on the weekend with family related stuff. So I’m still catching up on a lot of this. So let’s have a look at some of these highlights here. Hydra is definitely the biggest thing, I think that came out of the event. And everyone was always wondering, what’s going on with Hydra? When will we see hundreds of thousands of transactions per second for Cardano? And this showcase of doom running on Hydra is it. And it really shows how fast and what the type of potential

01:25
Hydra has for scaling Cardano. At the time of this recording here, we’re at 81 million transactions that have gone through this Hydra setup, showcasing what it’s capable of. You can see this little calculator here, this gauge here, global transactions per second. Currently right now with all the concurrent players, we have 114 active players playing Doom at the moment across all these Hydra heads, and is doing a 1,751.

01:54
Transactions per second. I think we did see a record here. This this was the biggest number that someone saw it was 7182 transactions per second. So that’s absolutely insane to see that and you can see here at the browser going absolutely crazy when you’re running the Doom instance and it’s literally doing

02:17
every pixel that you move on the screen is submitted as a transaction. If you have a kill, if you fire a shot, if you collect an item, as you progress through the different stages, everything is recorded on chain. So that this is a brilliant showcase and demonstration of the potential of Hydra. Now people think, oh, what is the whole point of doing Doom? It’s a showcase thing. It is something to show you what Hydra is capable of.

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and now other businesses and people will look into that and do their implementations accordingly. I love this post here by Cardano Yoda. I consider Cardano to be Bitcoin 2.0. Now it’s clear that Hydra is Lightning Network 2.0. Lightning Network can only send BTC between two users and cannot execute smart contracts. Hydra heads can be opened for multiple users. Users can send various Cardano assets. Hydra can execute smart contracts.

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big difference here between the Lightning Network that scales Bitcoin and what Hydra can do here. And I have this little video here between with a pie from Sunday and trim from IOHK and they talk a little bit about what this demo is. So let me just play this clip for you. Hey, we’re here with the Hydra Doom cabinets. So this is a version of Doom that is submitting a transaction to a Hydra head every frame. So that’s 35 times per second.

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We’ve got 65 Hydra heads running, so anybody around the world can play. And we’ve benchmarked it up to 2,000 transactions per second. This really shows off both the scalability of Hydra, the horizontal scalability so we can spit up more heads, and the isomorphism, which means that we can take stuff that was written for the Cardano layer one, just a normal Aiken contract, and use it on a Hydra head. So, you have anything to add? No, I think that’s about it. It’s a pretty cool demo. You can connect remotely as well.

04:15
Visit doom.hydra.family and you can play from home. Hey. Brilliant. So you can go ahead and play that if you haven’t yet, you can get to it doom.hydra.family. Just go to the website here, it plays in the browser, pick your server wherever you want. I’m in Australia. Start your game and start playing. Now there is a incentive here to get really good at this if you haven’t ever played it before. That’s a little bit small on my screen here.

04:44
I’ll let me just get rid of this. It’s a little bit noisy, but like I was saying, there is an incentive to start playing this because at the event Charles did make this announcement. Let me play this one for you as well. We’re going to have a death match. People fight each other in doom. We’ll find a way to make it happen. Whoever wins gets a hundred thousand dollars. USDM. How about that? Yeah.

05:13
There we go. So $100,000 up for grab doom death match. I believe this is going to be done at the Cardano Summit later this year. So if you are going to the Cardano Summit, you can compete in that tournament for $100,000. Absolutely amazing. So sharpen your skills. Now I did see a couple of people post.

05:39
About this and someone here this this person here chain crucial state pool put up their their Their their record here. They finished the game in seven minutes and 24 seconds. So this is speedrun My gosh, that’s absolutely insane with 98 percent kills I’m not gonna beat that. So I Highly recommend chain crucial state pool if you’re watching this

06:08
Head over to the Cardano Summit, compete in that Doom deathmatch, that 100k is probably yours. Absolutely amazing guys, links down below, more information about that for you. This next news update is about Lace and this was a big announcement that came out from the event and this was from Charles announcing that there’s a million dollar USDM bug bounty if you can hack.

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this paper wallet. Now, let me just play the clip for you from that announcement. All the rules and all these things. What we actually did is put a NFT on the paper wallet, clean the NFT. Then you can claim the million dollars because we have apparently have to do taxes holding KYC and all this other garbage. Thank you to law. But we’ve published it. The paper wallet template, you have the public key and the private key. It’s all there.

07:05
private keys encrypted using a PGP key that we generated for this event. And you guys are welcome to play around with it. This is, I think, the most secure paper wallet ever generated in the history of our industry. And as lace wallet goes multi-asset, multi-chain, means that every Cardano native asset in ADA can be secured this way as a way of backing up your wallet. Longer term, we’re gonna add DIT support to it.

07:31
Longer term, we’re going to add multi-asset for Bitcoin and other cryptocurrencies as well. So Lace will be the most secure place to generate a paper wallet. You can store these as a PDF as well as an actual piece of paper. See, I’m holding it right here. Paper wallets suffer from a very specific attack, the replay attack. So if you generate a paper wallet, you print it out. The problem is printers are not very secure. And oftentimes you can actually tell the printer just to simply reprint.

08:00
things that it printed before. So you print your paper wallet with unshielded keys, somebody reprints, they now have a duplicate copy of your paper wallet. The other thing is people tend to put paper wallets in places like safes, and if person breaks in, they see your keywords, they get your wallet, you’re over. PGP encrypting this means that you actually cannot suffer from the replay attack because even if they print it out. So PGP makes total sense to me, and it’s a different way of encrypting particular files

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computer, so you need a key and password and that will allow you to unlock certain things such as the private key of this particular paper wallet. So it’s an extra level of encryption that is required to unlock something. So if like Charles said, you have that seed phrase that paper wallet stored in a safe that gets broken into then you lose access to those funds because someone else has it or the replay attack on the printer, whatever it might be.

08:59
So encrypting that private key with another set of keys is a really nice way of doing it. Now, if you want to learn more about PGP, I’ll put links down below, but you can easily Google it and find out a little bit more information about it and how to actually create your own PGP key. Now, the bug bounty for LACE is up on their website as well at lace.io slash bug bounty program, where you can find out more about it, how do you take part, download the LACE paper wallet, and then see if you can.

09:27
hack the particular bug bounty. Now this highlight from the event is around digitalist DNS. Now this allows you to create a domain name such as gimbalabs.ada, and that will resolve to whatever hosting, whatever it might be. And this is very similar to like Ethereum name services or Ethereum based domains where you see someone’s name.eat, and that will resolve to a particular website.

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IPFS or a decentralized storage system, whatever it might be. So this works in a very similar way. And the team here put this together as a solution. And it’s pretty cool in general. Now, it isn’t active across the public yet. So they had a demo network at Rare Evo so they could demonstrate how this would work. And full public global access is coming soon afterwards. So this is super exciting to see.

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stuff like this coming out. Now they’re using Handshake as a route for.ada TLD. So this is also a multi-chain solution. If you want to know more about Handshake, I’ll put links down below for you, but I’ll do a deep dive into the digital solution so you guys can understand a little bit more about how it works and how you can take advantage of it. So next time you’re building a brand new web project, you can have a.ada domain. Absolutely awesome. So this is a little demonstration of what they had at the event.

10:52
You can connect to the Wi-Fi network with that particular password, navigate to the index.ada domain name and then navigate to any of these websites that they had within their little network. So that’s really cool what they’ve put together and I love that this is going to be a multi-chain solution as well so other people can start buying.ada domains. Now this was really cool to see from Iagon and this is their hardware device that they’re bringing out. This is it here.

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I didn’t get many details from just looking at this photo, so I had to do a little bit of crawling, but it was easy enough to find the post about the Cyclone QS and QS Pro. Fairly good entry points for these pieces of hardware. This is really good for someone like me that I didn’t want to run my PC 24 hours a day. My internet connection isn’t the best here where I am, but I can set up one of these devices at a co-working space, have it securely locked in.

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place there and run this as a storage device contributing to the Iagon network. So this is really cool. I like this. So I can buy one of these devices and get up and running. So limited devices available delivery in three to six months. So I’m sure they’ll spin up more of these as the demand comes. So this is the pre-order website here. You can either get the cyclone with hard drives or without hard drives.

12:14
You can see the price difference here. So this is the advertised price with no drives itself. Now it does have the currency conversion here for ADA as well. So this is the amount in USD, the price in ADA there. I did have to connect my wallet for this process. So I’m assuming after I go through the shipping process here, I may be able to purchase this with ADA, which is highly flexible in regards to what I do because I get paid in ADA. So it’s a little bit convenient to pay out.

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in ADA as well so nice to see that all come up. If you’re interested links down below for you guys cyclone pre-orders are up for grabs. Now this other really cool product that came out from Igon is this platform called Click and this allows you to share your profile at a networking event such as Rerevo to anyone simply by scanning a QR code.

13:08
So I am always meeting new people at these events and sharing contact details sometimes gets a little bit tiresome. You’re open, do you use X, do you use LinkedIn, do you use Telegram, Discord, what’s your profile there? You know, all sorts of issues come about. And this here, I absolutely love. It allows you to create a profile and share your contact details via QR code really quickly and easily.

13:36
Now everything is stored on Igon’s decentralized storage servers. So this is a really good use case of it. And I went through and set up a profile myself. So this is the QR code here that Igon create once you have your profile set up. So you can scan that. You can pause the video, scan that right now. That would download a VCF file onto your device. You can open that and that will create a contact within your address book. And then you can contact me.

14:05
It’s got my ex details there, my LinkedIn, et cetera, et cetera. So all my contact details there, you can contact and connect with me on either social media platforms that I use. So it was really quick and easy to set up, and really quick and easy to share. So I can download this as an image. I can have the QR code. Now, what I normally do for these type of events, let me just show you what I do here. I have.

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the QR code saved on my home screen. So it’s something like this. I have to update this now. Let me just change camera here. But this is what I do. So I have the QR code on my phone on the home screen so that any time I’m at an event, I just show people the home screen and that’s it. They can scan that QR code and they have my contact details. Absolutely brilliant use case of Iagon storage and I love the service as well. So thank you so much for that Iagon team.

15:01
Now, Newcast one first place for the Rare Evo Hackathon. And I thought this was worth highlighting as well because the Newcast team have put out some really cool, interesting products recently. Their first one here, Newcast AI is a LLM layer that unlocks ability to interact directly with digital assets in your Cardano wallet, books, movies, whatever it is.

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Connect your wallet and you can engage directly via text, ask questions to the characters from a book or movie, explores themes, plots, history and more. So that’s a really interesting AI thing that they’ve put together there. But this one here, I absolutely love this new auth. I’ve mentioned this before in other videos. An authentication protocol built on the Kodano blockchain designed to directly address the challenges of contact, authenticity and provenance in the age of artificial intelligence.

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The protocol leverages an inherent security feature of blockchain to create a tamper evident record of content creation and ownership. So this will get more and more important as we see AI generated content. There’s videos of me speaking in Spanish, for example, all using AI and that’s not me, it’s all AI generated. There’s videos of Charles talking about ADA giveaways. They’re not authentic either, that’s all AI.

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generated from a script. So we’re going to see more and more of this. And to be able to authenticate the authenticity of a particular video that’s come from a particular person is going to be more and more important. So this is crucial. And I absolutely love that the new cast team got a bit of a highlight for that at the hackathon. So absolutely amazing to see. And when I see more of their product, I will definitely be covering that. And if I can.

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use the product and service to actually authenticate all the videos I put out too.

16:59
Now this isn’t from Rare Evo, but I thought it was worth highlighting because I was waiting for Finest to finally release their platform, their real world asset tokenization platform. And the very first product they decided to tokenize was Granite. Very interesting one there and they’ve have sold out, which is absolutely insane. Why is it sold out? Because you know, crypto and crypto people will buy rocks and JPEGs and whatever it is and people have decided to.

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buy into tokenize granite. So this is one of those real world assets that you can’t easily turn into a liquid asset. And now you can by tokenizing it and putting it on chain so you can easily trade it. I’d love to see where the platform goes next. Granite was the very first one to approach. I know there are all sorts of legal things around tokenizing gold.

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tokenizing silver and other really popular commodities, it’s easy to pick some of the low-hanging fruits, such as granites, which is a commodity that’s sold on the open market, but I guess there’s a lot less regulation around that. But we will see bond stocks and other commodities, high-price commodities come into the market system, the ecosystem very soon, hopefully, and we’ll see.

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what they will tackle next and what they’ll allow people to tokenize next on their platform too. Okay that’s it for this particular news update is quite a lot that came out from Rare Evo. If there was something that you enjoyed that you saw please leave a comment down below let me know so I can investigate myself. I’ve got a lot of updates this week coming out so please hit that like, hit the subscribe, click on that notification bell and I’ll keep you

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in the Cardano ecosystem. I’ll see you in the next video.