 Welcome to Jalassette News, take a top stories and cryptocurrency Jalassettes and bring them down to bite-sized pieces today. It's really one big story and there's a lot of different multifaceted aspects of it, but it's titled Cardano reports a new major upgrade as ADA posts an inspired rally. This is really all it has to do with moving forward with the road map as far as Cardano and moving into the Gogan era as far as smart contracts. And there's a a lot of different minutiae that we have to take a look at and really disseminate to find out exactly what's going on. And hopefully I'll get a little help from my friend Hashoshi, another YouTuber to explain some more of the technical side. So we'll go over all that and there's a lot of information to go over. But first let's take a look at what is going on in the market. So today it is February 17th, 1140 a.m. on Paso, Texas time. So here's what we got. Again, I think that Bitcoin went above 50,000 for a very short amount of time. But like I've always said, when there are round numbers people are going to take profits. So just expect a retracement. That's just how it is. But I'm happy for that because, you know, if you would dollar cost average, this would be a great time for you. Bitcoin, I have stopped purchasing. I have my limit and I already have my positions and I've already talked about how I believe it's going to go to 150,000 and then it's going to retrace to around 30, 40,000. So anything over that, I don't see a point in actually purchasing anything else. I'm trying to get more into the DeFi space because I think that is the biggest opportunity for growth. And I look at places like Ave and Synthetix, which I'll be doing more of a video on later. Anyhow, Ethereum down to 1744 after getting to 1800. So that's good. Tether, sure. Polkadot and again in that fourth spot and up 3% for almost 30 bucks. That's amazing. The kind of run that Polkadot has had. And again, if you're going to bet on anything, you're going to invest in anything, invest in people. So if you take a look at what I call the Ethereum mafia, kind of like the pay to call mafia, you got Gavin Wood, Dr. Gavin Wood, who created Ethereum alongside Vitalik Buterin, Charles Hoskinson for Cardano. So you take a look at those two products or three products, like you know what, I'll bet on those people because they've already done big things. So that's why you see Cardano Polkadot and Ethereum pretty much in the same place. XRP is down a bunch and that is because there was a article which talked about how Ripple and the SEC looks like they're not going to be able to come to an agreement. And if you know anything about cases and lawsuits, you know, this could drag out for quite a long time. I'm not here to bust anybody's bubble, but I've been through a lawsuit and I can tell you right now it is long, it is expensive, and there's a lot of different circumstances to really get out of it. And there's a lot of factors in play. So if you think it's going to happen anytime soon, it'll think it's happening. So sorry. Anyhow, Binance Coin down 3%. Like Coin, what else we got? Anything up majorly? Not really. Oh, 16% for Cosmos. I don't have Cosmos, so I don't really care. And again, on my channel, just so you know, I'm super biased towards all the things that I own and just how it is. But if you're a Cosmos holder, congratulations, good for you. Ave, I'm down 12%. Hey, what are you going to do? Data token down 6%. Everything's down right now. And again, once we hit these highs, we're going to see your retracement. Let's take a look at, first of all, let me blow this up so somebody can see it. Sorry about that. And what I want to take a look at is what is going on as far as the sentiment of the market. So let me just click on this projected range. Okay, so business from trade the chain, and you can take a look at what the sentiment is as far as like tweets and all the things that are going on in the different websites and blogs and Twitterverse. So I don't know any of these. I don't know, Telos, Cream Finance, Mainframe Horizon, Blockstack, but apparently, hey, Telos, Telos is going to go up 16%, maybe down 13 in the next hour. That's kind of a crappy range. Trust swap, negative four to plus four, Grim, whatever, Maker, Celsius, that's pretty interesting. Bill Barish, I see it going down, but if you want to check that out, there's a link in the description. Let's just jump into today's top story because this, to me, really is the big thing. And Cardano is just one of those projects that takes a long time. They've done a lot of different, I mean, it's really just a creep into things, but I think it's going to be big. Look, we're almost hitting its all-time high of like $1.13, $1.18 somewhere around there. We were at, I think, 93 cents at one point. We'll take it. So what's going on? What is the catalyst for what's happening? So there's been a major upgrade, and this is from all the ADA posts. So just to go back in time, this article was written on February 14th, but it states here on February 3rd, Cardano's development firm IOHK successfully connected the hard fork and applied the Gogan native token upgrade, known as the merry upgrade to the Cardano's test net, which transforms the blockchain into a multi-asset network similar to Ethereum. And the things that really vary as far as Ethereum is fees, gas fees. And there was a tweet from Ray Youssef. He is the owner of Paxful. He talked about how great non-fungible tokens are, if it wasn't for the fact that it just costs like 170 bucks just to get it up and going if you want to do a non-fungible token. And we all see these with like the fees for ERC 20. And we'll get into that, but this upgrade, we'll talk about in a bit, is really going to decrease almost nothing, fees. And it's pretty amazing how they do it. So the team expects to have launched the main net by the end of February. So let's back up. First of all, let's take a look what they're talking about as far as the Gogan roadmap and Cardano. I will link this in the description. It's just the roadmap.Cardano.org. And what it talks about here is actually let me blow this up so everybody can see it. It makes a lot more sense if I can actually show you what you're looking at. So Gogan itself has the ability to build dApps, the essentialized apps on Cardano's fellow foundation of peer-reviewed research and high assurance development. So that was the big thing because when people always talk to me they're like, well, what has it done? Who is building on it? What is going on? Which I understand you couldn't really build too much on it because they need a Gogan to come into play. So now that Gogan is here, now you can start to have dApps. And they've built their own language, Plutus. They've done a lot of things as far as making it very easy to build on it. So I expect things to take off. And the real question was always like, well, why the heck does it take so long? This part right here where it says peer-reviewed research and people are like, what are they talking about? And all this means, let me come back here. All this means for this peer-reviewed research is that they actually put these papers out and they don't have people inside their team go, yeah, looks good. What they do is they send it out and they say, we want you any kind of academic different properties or different schools or different people to actually take a look at that know about blockchain. Take a look at what we are proposing. Would this actually work or is this just not a really good thing? And it's always done, well, it's done a lot. As far as medicine, as far as pharmaceuticals, they want to do peer-reviewed research. They take a look and say, this is what we have. Tell us if this is total bunk or if this is actually going to work. And these are the only ones that actually do this. So I understand now why they do it, just because the same thing as far as medicine and medications go, or the medical field, they can take a look at this and go, hey, tell us what you think. And so far it has come back very positive. And this is the thing as far as taking these small incremental steps to make sure it's done right. Think about some v5 products that you know about right now. How many of those have crashed and burned just because they're trying to throw things out there? And I got to look, I got to tell you, for what I do as far as entrepreneur, I'm the same way. I just throw stuff out until it breaks. Like, well, that didn't work out, we'll do something else. Well, let's do this, let's do that. But when you're playing around with people's money, it's a little bit different than an actual product. Like if a product comes out and rolls out and like, oh, it didn't work out, so we'll just change it. But when you're talking about people's money and life savings, you can't do that. When you're talking about going into like Sub-Saharan Africa and making a payment system, you can't really do that. When you're talking about, you know, bringing in these like Fortune 500 companies and then just think just screw up left and right, you can't do that. And I get now why they have done all these things and it makes a lot of sense. Anyhow, let's, let's move back here. So this is one of the goals for the golden era has been the creation of Clutus, a purpose built, smart contract development language, an execution platform using the functional program Haskell. This allows one code base to support both on and off chain components, improving the coherency and usability of the development experience, compared with existing smart contract implementations. So jumping back to finish up this article, it talks about for the first time users on the Cardinal blockchain will be able to create their own tokens, be it fungible tokens or NFTs. And if you've been aware of what is going on, I think NFTs are going to be the next big thing. I have not kept up to date with it, but I will be delving into that a lot deeper moving forward. And then this was the interesting part. And we'll get into this with hash in a bit, but Cardinals token design. So the first major difference following the upgrade is that there will be no execution fees, none. So in Ethereum, we can call those gas fees, but on the Cardinal native blockchain, there's going to be no execution fees. This is from Heinrich Pfeiffer, General Secretary of the Cardinal Foundation. He states native tokens on Cardinal are forged on chain with no need for a smart contract and therefore no execution fees required to transact native tokens on Cardinal. Instead, sending tokens requires a nominal fee called the minimal aid of value. And he talks about how you can actually model these together and it'll increase the fee just a little bit, but not too much. So again, when we take a look at what's going on with Ethereum, it's a great platform and everybody's building on it. But the reason is because you really couldn't do too much with Cardinal. Now that the Gogan era is here, people can start to create dapps and then those fees are going to go down. I see a pretty good market niche for Ethereum to really plug into. Will they be the dominating force? Who knows? But I think, again, that there is enough room for two major players. So let me skip this part and just go to the last piece. So the big thing for me is about usability because I'm not a programmer, but when it states here, it says the fact that Cardinal has been implemented in Haskell, a functional programming language that is known for its high liability apps, could open up different business use cases involving large enterprises and even governments. And Pfeiffer finally states Cardinal may stand up or may stand to capture an altogether different share of the market than Ethereum at a national level, identity solutions, back and eventual infrastructure, and powerful enterprise use cases. So what is so important about Haskell and Plutus? And it really comes down to that Gogan road map. So let's jump over there. I'm going to show you exactly what I'm talking about. And the Gogan era also encompasses work to make Cardinal accessible to wider audiences via Marlowe, which is good for me. This allows financial and business experts with a no previous technical knowledge such as myself to create smart contracts. So Marlowe and the Marlowe playground simplify the process for creating smart contracts for financial applications, finding subject matter experts to directly contribute without requiring deep programming skills. This could be a big boom for potentially DeFi decentralized finance. So remember what I want to know, we talked about this in the past, we say, if you don't know what to pick as far as DeFi, you don't really know what Ave, you only know about Compile, you only know about Synthetics or Wi-Fi, just buy Ethereum because everything's built in Ethereum. However, I think that may change. So for all this stuff, I mean, even for me, like I'm looking at this and I'm like, what the heck, it's kind of confusing what they're talking about. So really what I want to do is get somebody who's an expert who's actually a programmer knows what the heck they're talking about. That's why I brought in my friend Heshoshi. So let's jump over to the Zoom meeting and let me have Heshoshi actually explain what the heck is going on. All right, everybody. So welcome here. We've got Heshoshi from the Heshoshi YouTube video and our YouTube channel. And he is one of the few people that I watch almost on a daily basis, along with a couple of different YouTubers. So I brought him on because he is a programmer and he's here to answer some questions. So the first one I have is when I was, when we were reading this hash, we were talking about how with the Gogan era coming in, that now that people are actually able to create dapps on the Cardano network. First of all, have you done anything with the Cardano network and how easy is it to actually build a dapp on Cardano as opposed to whatever else you might have done in the past? Yeah, sure. I think that from a perspective of, I guess, experience building things, I think the most experience anyone would have at this juncture is working on sort of a test nets or playgrounds, right? Because the major updates are going to come to the Cardano main net, maybe people might know it by the name Gogan, will bring eventually the ability to build smart contracts on main net, which then subsequently enables decentralized applications at large. So what I've done to date is I've tinkered with the two language playgrounds. You have on one side, you have Plutus, which is the really formally verified functional programming language based on Haskell. And then you have Marla, which is basically an abstraction of Plutus. Marla was intended for people that might not be programmer-programmers, right? It gives you a graphical user interface to drag and drop logical components. If you can build a workflow and you understand business process flows, you can make then a functional Plutus smart contract that's deployable to main net. And that's using Marla, which is more specifically a domain specific language. Got you. So I've worked on both. Perfect. So Hash, could you see Marla being used for any kind of financial industry where they're like, you know, we want to build kind of like decentralized finance, we want to cut out the middleman, and we want to make this flow, we have no coding ability. Could they just go in there and go, just drop, just drop, cut and paste off they go? Yeah, I think that's exactly the target. And I would see, you know, business process managers, some, you know, I guess people who manage financial transactions and even enterprises that want to enter into contractual agreements for which payment is processed between the two, they can do that using literally a drag and drop interface. And I can send you a link and you can click and you can go to the playground. You can see it in action and actually build out something on Marla now in a test net environment, which is really cool. Send it to me and then I'll put it in the description so people can play around with that. That's pretty awesome. So that will make a lot of sense because I know with the different heads of the organizations for IOHK and IGO and whatever else, it seems like they're really focusing on the Fortune 500 companies, like the big enterprise type of levels. So I can kind of, now I can put the pieces together about why they want to do it like that because not everybody has developers and they kind of make it like that. Got you. So talk to me real quick about the fees because I mean to transfer everything on Ethereum is crazy, ridiculous right now. Even NFTs and things like that. How can you drop the fees to where these Fortune 500 companies be like, you know what, we don't know what's going on over there, but we like what we see here. Let's go this route. Yeah. And so I talked about this recently on one of my videos where there are a lot of people now calling for no fees. Let's just eliminate fees from blockchains. It's a barrier to entry. I vehemently disagree with that idea because fees are very important in terms of the security model for most decentralized networks to be what they are. First and foremost, it prevents people from malicious actors from just sending thousands and thousands or millions of empty transactions to the network to DDoS it, to denial of service attack it. So when we move past the no fee idea, really the biggest thing that drives fees in most of these types of networks is laws of supply and demand. There's a limited amount of block space. There's a limited amount of processing power and storage space. Those are the big three and the miners or the block makers, they have to process smart contract transactions in the map to store the data, if there's state changing information, etc. That's the main driver for fees. And Ethereum, the reason why the fees are so high is because of supply and demand. There's just not enough space in blocks and enough room in blocks to process enough transactions. So that's where we're at now. And did you have something to add? Sorry. No, no, it wasn't about that. So talk to us real quick about block space, Ethereum versus Cardano because Ethereum was created what, 2014, 15? 15, yeah. Yeah. And then we talk about the second generation blockchain. Now we're looking at Cardano for the third generation. So how does that blockchain size differentiate? So now we can have those fees, not so much because, like you said, there is supply and demand. We have more of a supply over here. Yeah, I think it's just architectural decisions that were made in the development of Cardano. Understanding that when Cardano really, really kicked off, let's say, ages ago. It's been a long time since Cardano started building. They were taking lessons learned from Ethereum back then and have continued to do so. And so you have architectural decisions like the modified UTXO model that they use, plus the proof-of-state, the Orboros protocol for consensus that's been developed voraciously over the last several years. And so those are some of the things that help with scalability, right? You can process transactions faster. You don't just have one parameter to pull on, which is just block size. So it's part of the mix is how fast transactions can be validated securely. Gotcha. Okay. So first of all, Hash, thanks. I appreciate you coming on. So lastly, I'm going to ask you a bigger type of question. Where do you see Cardano and Ethereum at the end of this bull run, which, oh, no, we'll say the end of this year, 2021, as far as market cap. Where do you see it in the next five years? Interesting. I think if you look at Cardano and what they have planned, right, the master plan, quote-unquote, starts to come together this year with Gogan and then subsequently Bosho and Voltaire, some of the governance stuff that's coming. I have a feeling likely what that will mean is that Cardano's market cap will at least double this year, in my mind, at least, if not more. I think in the five year time span, a lot of people are looking at Cardano to start challenging the market cap that you see Ethereum has, right? And I think sometimes people talk about Cardano taking the market cap that Bitcoin has, but they're so different. I don't think you can compare the two. You're more likely to be pulling from the money that's already in something like Ethereum. But that being said, all of this is dependent on new money coming into the space. So there's that one caveat. I don't think it's going to be a situation where Cardano just takes all of Ethereum's market share, because there are also other projects that are involved in this fight. And it's not a zero sum game. A lot of these projects will be successful in their own niche. And Ethereum is really going to be hedged on E2.0. It could very well hold on to a large proportion of the market cap it already has, but maybe just add new money more slowly because there's competition. I have a feeling that's really what's going to happen. Yeah, I agree. I agree with that. I think there's room enough for two, but again, we will see. So you heard it here first. Hoshoshi said $10 to Cardano at the end of this year. Great. Thanks. One can only pray. All right, man. I appreciate it. Let's jump back. Okay, so I hope that helps. Now you know Hoshoshi. He's one of those guys that is always in my description of every one of my videos of all the different YouTubers that I watch, almost on a daily basis. So you can check them out along with all the other people that I have down there. So let me just finish up with this. And that is that if we're talking about Cardano, I've got to talk about stake pools because I just want to talk about my own. So just so you know, DNews has its own stake pool. And just so you know, we now have two. And the reason that we have two stake pools, and you can find all this information at pooltool.io, actually an easier way is in the description of every one of my videos, if you just scroll down the Dan Cardano stake pool, there's a link right there. It'll take you to the actual webpage. And if you just scroll down to wallets, it'll tell you everything you need to know about how to stake with DNews. But what I really want to talk about is that two things. Why do we now have two stake pools? Well, first of all, it's easy. If you go to pooltool.io and search for DNews, you can see how much are active stakes, the fees and epoch fees, all those things. But also if you scroll over, you can see this thing called lifetime ROS, return on spend. And usually the industry average for Cardano stake pools is between four and six percent right now. For the first one, we're around 5.35. So we've been up as high as 5.42. And then I think we're down to 5.26. But we're always above average. And the reason is because we use the Microsoft Azure network with Kubernetes and we try to be up as much as humanly possible. 99.9%, if not 100% of time. So we don't miss any rewards. On top of that, the reason why we just started last week, the DNews stake pool number two is because of this. If you go to pool.pm and look for DNews, I'll link that in the description as well. You can see that our saturation point is at 48%. So why would we make a new one? Well, in a couple of weeks, I think in March or so, they're going to set the limit for the maximum to around 32 million, 31.5 million, some around there. So we want to get ahead of this because if you stake to a saturated pool, something like this will happen and we blow this up. So when you have too much saturation, everybody who is delegated to that pool will lose rewards. So in this case, they are oversaturated 70%. So you're losing 70% reward loss. Before that happens, we need to make sure that we get in front of that. So right now, if you want to stake with the DNews stake pool, you can go, first of all, watch that video, which explains how to stake through your deadless Yoll-Roy or 88 light wallet, how to find that second stake pool, which is pretty easy. Just go to DNews and just find the ones that have the very few least amount of delegates and just delegate to that. And watch the video and we explain exactly why. In my opinion, our opinion, Cardano staking is vastly superior to Ethereum staking. There are no slashing rewards. You can move in and out anytime that you want to. And it's just a really simple process and it's just automated. So that is it. That is it for today. So actually, no, that's not it. Excuse me. There's a couple of things I want to talk about. I forgot about this. So as far as Cardano goes, people talk to me and they say, well, you know, Cardano is going to be the greatest thing ever. It could be, but you have to look at what's going on right now. There's a website called crypto fees.info. And we take a look at this. You can see all different crypto projects and what people are actually using right now. So we take a look at Ethereum as a number one. This is as far as fees go, this is where you can see like what is actually being used. So Ethereum is being used massively and people are paying massive fees. Next one is Bitcoin, next one is Uniswap, SushiSwap, Compound. It's a good one to get into. And you can see that the more fees that are added up, the more people are actually using it. So we take a look at this. We're like, well, shoot, we go all the way down. There's not really much anything that is going on as far as Cardano at 5,916, which is right here. Not too much. So people would just assume that, okay, well, Cardano is never going to make it because that's just how it is. But I want you to remember one thing. Now I'm not here to say anything that one person is going to win or one's going to dominate. I think there's room enough for two, just like we talked about in the article. But if we take a look here, I just want to show you Internet browsers. And if you're old like me, you can remember these Internet browsers, but just as a quick refresher, people always talk about, well, this, it's only going to be Ethereum for a while. Remember Netscape Navigator? Well, that dominated in the 90s. And then all of a sudden Internet Explorer came around. Again, people don't know because they've got old, you don't remember this stuff. So then, well, what happened? Well, that would just stay on top, right? And this thing called Firefox came up. And before you knew it, that started to take over. Well, not really, but it would take a little bit of time. And then all of a sudden, as time went on, 2005, 2006, and 2007, there's going to be this, this web browser, it's going to start to pop up at some point. And it's going to be talking about Google Chrome. Google Chrome wasn't really much of anything. And all of a sudden took a year, a couple of years, really started to really play a part. Firefox was supposed to be the next one, didn't make it. And then Chrome came in. Why did Chrome come in? Well, it was just better, it was stronger, it was faster, and it was backed by a lot of different companies and industries that really put their weight behind it. Of course, Google was the biggest player. So when we started to talk about, well, Cardano will never make it because Ethereum is just so up high. True, could be. As time goes on, we will see who will be the dominating force. Again, I think there's enough room for more than one browser, like right now I'm using the Brave browser. Some people use Google Chrome, and some people use something else, so whatever you want to do. But that is it for today. So if you made it this far, I want to say thanks for watching all the way in. I appreciate it. If you like the video, give it a thumbs up. Also consider subscribing because a lot of things we talk about are time sensitive. And that is it for today. So thanks so much. I'll put two more videos up if you like this one and what YouTube is magic. That is it. Thanks so much for watching. See you on the next one.