Have you heard the one about Cardano being the marketing ploy to promote Charles Hoskinson’s career as a YouTuber? He sure does spend a great deal of time in front of the electronic camera. This time, the marketing genius uses Elon’s Dogecoin guarantees to make himself look like a scholar. And to trash-talk Bitcoin’s technology. Okay for just eight minutes.
The info this Periscope transmission consists of does appear helpful for cryptocurrency developers. The talk is titled “How To Fix Doge (For Elon Musk).” Hoskinson plays it straight and suggests eleven technical documents that the Tesla billionaire can utilize to meet his pledge. As you most likely know, Elon just recently announced:
Working with Doge devs to enhance system deal performance. Potentially appealing.
—– Elon Musk (@elonmusk) May 13, 2021
Well, Doge is a Litecoin fork. And Litecoin is a Bitcoin fork, so they essentially use the exact same code. Hoskinson starts by attacking it, saying that Doge operates “on a quite shi ** y Nakamoto agreement design” Scrypt engine. Was that necessary? Of course, because the whole Cardano value proposal rests on the notion that Bitcoin is old innovation. This is a marketing video, so it needed to convey that idea.
Then, he enters into it.
DOGE cost chart on Bingbon|Source:
- DOGE/USDT on TradingView.com Related Reading|Pompliano Explains Elon'sBitcoin Bombshell As A Tesla Marketing Ploy Eleven Papers To Improve Doge To start with, he advises Prism. He says it's" most likely the best and fastest Proof-Of-Work protocol on market right now." It can do 10.000 transactions per second.
- The important things about a Litecoin fork is that it's supposed to be ASIC resistant. So, Doge requires an algorithm that ASIC miners can't break. To resolve this problem, Hoskinson recommends the paper, "HashCore: Proof-Of-Work Functions for General Purpose Processors." About it, he comments, "What I like about it is that it's made by electrical engineers."
- Another choice for the ASIC resistant issue, the paper "Ballon Hashing: Protection Against Sequential Attacks."
- For, "a better way of doing difficulty retargeting," he suggests "Revisiting Dificulty Control For Blockchain Systems."
- To change the block structure, he opts for, "Coded Merkle Tree: Solving Data Availability Attacks in Blockchains."
- Then, he suggests "Non-Interactive Proofs of Proof-Of-Work." Referring to this one and the previous paper, he discusses, "These 2 things together in a Proof-Of-Work system provide you a gorgeous path for extremely efficient light clients" As well as, "four sidechains."
- Then he opts for the "really sexy" brand-new paper "Mining in Logarithmic Space." This one is psychedelic, it's "Bassically saying you don't require the blockchain to mine the blockchain, how about that?"
- Then, to add smart agreements, he advises the scripting language Ergo. The paper is called "ErgoScript: A Cryptocurrency Scripting Language Supporting Noninteractive Zero-Knowledge Proofs."
- The next paper is called "SOK: Cryptocurrency Networking Context. Cutting-edge, Challenges." This one focuses on innovation. Hoskinson discusses, "This truly takes you through the most recent and greatest of all the various network's stacks on market, trade-offs, and various things to understand."
- Then, to make Doge quantum-resistant, he goes with Nist's paper "Recommendations for Stateful Hash-Based Signature Schemes."
- Lastly, for a hash algorithm he highly advises Blake3.
Hoskinson's last words to Elon
This male is a master communicator. Despite the fact that the video is tongue-in-cheek, Hoskinson never ever breaks character and ends the video apparently with the utmost respect:
"I hope this is handy for the Doge community, and for Elon. And I want him the very best of luck in rebuilding that cryptocurrency with his super-elite engineers which I have no doubt he has, as he's one of the world's wealthiest guys."
BTC cost chart on Bitbay|Source: BTC/USDT on
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However then, while still playing it directly, he chooses Elon's jugular:
"Thank you genuinely for entering our space. And thank you genuinely for telling everyone that you're going to take custody of that cryptocurrency and make certain that it gets where it needs to go. And I look forward to see the fantastic developments that you people bring out in a year or two."
Our hat's off to you, Mr. Charles Hoskinson.
Okay for an eight-minute video. Okay at all.
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