Be some of the first tokens and dapps on the Cardano network?

Cardano

Hey all, greetings from the UK!

With the mention of fee reduction by potentially using Optimism. I wanted to start a discussion about Cardano, interested in what people have to say and will be sharing my thoughts in the comments.

Build the Blockzero ecosystem into Cardano for Goguen launch?
  • Yes
  • No
  • What is Cardano?

0 voters

My thoughts:

I am a big fan of Cardano, their thorough academic methodology to building a future-proof network is, in my opinion, the correct approach to create a strong and sustainable foundation for the future of blockchain. Below I will list some pros and cons, in my mind, of pursuing full functionality of the Blockzero environment within the Cardano sphere on launch. Keen to hear everyone’s thoughts and concerns.

Pros:

  • Cheap, fast, highly secure and future-proofed transactions. All our tokens/dapps will work as truly envisioned.
  • Exposure to an extended community and unlocking extra hodler capital in the form of ADA.
  • New possibilities moving forward with access to Plutus and Marlowe smart contracts in addition to Solidity.
  • With the Ethereum virtual machine, potentially little would need to be done to migrate, and all could potentially function across both chains smoothly (I am no expert though).
  • First mover advantage, to be some of the first established tokens/ dapps on Cardano will provide extra exposure, pioneering in a space.

Cons:

  • Goguen (smart contracts) is still in testing phase, we can get everything ready and working in the playground, but actual mainnet release will be in the future as opposed to right now compared with Optimism or other L2 solutions.
  • As early to the game, no doubt there will be unforeseen issues to contend with.
  • By focussing resources on Cardano integration, what else might we be missing out on?
  • Am not sure about the finer details of token migration/ being enveloped by the Cardano ecosystem. Would cross chain moves be simple and reversible or more complex? Would it require us to split liquidity? I hope not but this might be the case.
  • Am yet to come across a mission as ambitious and thorough as Cardano, however there is likely competition in the ‘blockchain 3.0’ space. Polkadot to name an example.

Am sure there is plenty more to consider, look forward to hearing what you guys think. Zachary has a lot to juggle with Blockzero so would be great if we can come to community consensus on scaling solutions to take off some of the load.

In conclusion, I think it would be a better approach, if aiming for long term growth and sustainability to patiently wait until we can integrate with Cardano rather than rush too hastily into a L2 solution that exists right now. Nothing is stopping us doing both, but manpower and community uncertainty should come into consideration. Thanks for reading, XID–ea282.

2 Likes

I agree with both your pros as well as the cons. However, I suggest to at least look into what the current hurdles are. Apparently Apps on Cardano are much easier to code compared to ethereum due to the large amount of support for a variety of programming languages. Of course it is a gamble to be one of the first to create apps on Cardano but i think the amount of exposure it would create is not to be underestimated.

Might be worth it to take a look at the possibilities at least.

3 Likes

I’ve examined some of the network functionalities and marketing capabilities and here’s my two cents of the gen 3 blockchains. Polkadot is the more competitive network, I personally have invested into Polkadot because both will have their user bases but, the fundamental selling point of Polka is that it standardized security. The reality is that crypto as a technology is fundamentally based on the security mechanisms it’s integrated. They have a better brand image, and even though they’ve been selective with the projects they’ve taken on, it has led to a high quality initial environment for them to gain traction with. Both Cardano and Polkadot are lead by expert teams with a lot of research backing them, but cutting out the security development phase by making an integration with the DOT chain is so attractive, and lowers the barrier to entry for new apps and coins that will be based across the network.

1 Like

As much as I like Cardano and Polkadot, it will be a risk moving on to those platforms at this very early stage. I believe we will be best served on Ethereum and in future we can use cross chain solutions to be interoperable.

1 Like

I would fully support a move to Cardano.
Once smart contracts launch, Cardano will be a force to be reckoned with, and all eyes will be on Cardano.
IMO

1 Like

I am a HUGE fan of Cardano and am personally invested in the platform. I think we should pursue dapps on the Cardano network AFTER smart contracts and the ERC-20 converter is available and proven.
A few months ago (I have been away for a few weeks) there was a discussion on moving to another platform given the gas fees on Ethereum. At that time, I brought up Cardano (this was during one of Zachary’s live streams on YouTube) and the sentiment was the network has a long history of not delivering, which caused a bit of pause on the network.
Personally, I think the culture of Cardano and the opportunities offered in the system are consistent with the culture and mission of Blockzero, Also, I think Ethereum is like Microsoft and Cardano is like Apple - the later focused on security, strong engineering, and excellence. These things take time. Once Cardano delivers, I hope we can move forward.