Don’t be intimidated by Cardano – In the land of Cardano, science meets mythology, and there is a whole new language to discover if you want to be prepared for the journey. This is your Cardano Starter Pack.
Interested in Crypto Retirement Accounts? Check out iTrust Capital!➡️
0:00 Intro
1:06 Ouroboros
1:40 Haskell
2:39 Plutus
3:08 Daedalus
4:39 Mithril
5:27 Recap!
5:42 Hydra
6:41 Voltaire
💱 Use this link to trade with us on BitGet, an exchange that puts users and security first. ➡️
Join The BitBoy & BitSqud August 24-26th in Denver, CO! Receive 10% off your tickets by clicking on this link, creating an account & using code BITBOY10: ➡️
NEW to crypto or NEW to the channel, join the BitSquad:
📚 Grab My Book ➡️
📚 Learn more about crypto ➡️
📈 BitLab Trading Suite | Get access to the best trading indicators ➡️
Protect Your Crypto in Cold Storage:
💳 BC Vault Cold Wallet ➡️
💳 Trezor Cold Wallet ➡️https://bitboycrypto.com/deal/trezor
BitSquad Tools:
🧾 Need crypto tax help? GET 10% off CoinLedger tax tracking services with code: BITBOY ➡️
🔬 Research with Token Metrics ➡️
⚙️Lux Algo Trading Tool ➡️
🛠 Market Cipher Trading Tool ➡️https://bitboycrypto.com/deal/marketcipher
Represent Your Crypto Squad:
👕 Best Crypto MERCH ➡️
Come Stake On-Chain with The BitSquad:
🧐 How to join Cardano (ADA) BitPool ➡️
●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●
Connect with Me & the BitSquad!
Join Me on Twitter ➡️
Join Me on Instagram ➡️
Join Me on TikTok ➡️
Join Me on Rumble ➡️
Join Me on Minds ➡️
●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●
All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice. Digital Assets are highly volatile and carry a considerable amount of risk. Only use exchanges for trading digital assets. Never keep your entire portfolio on an exchange.
#bitcoin #ethereum #crypto #news #nft #economy #money #blockchain #invest #inflation #cardano #cryptocurrency #xrp #litecoin #dogecoin #shibainucoin #world #asia #americas #europe #middleeast #africa #southafrica #unitedkingdom #france #brazil #argintina #mexico #spain #korea #india #germany
Don't be intimidated by Cardona the Land Of cardano Science meets mythology and There's a whole new language to discover If you want to be prepared for the Journey this is your cardano starter Pack let's get it [Music] [Music] Welcome to people with crypto my name is Ben in this video we'll be talking about Cardano and catching you up on some of The most important terms that you need To know to wrap your mind around this Amazing crypto ecosystem There are a ton of labels and terms that Are unique to cardano sometimes it can Be a bit confusing because they take the Names of famous scientists or mythical Creatures so let's break it all down First things first cardano is approved To take blockchain like all blockchains Has to have consensus on the network Different blockchains use different Consensus xrp uses xrp Ledger Cosmos use A Tinder mint and cardano uses oroborus That funny sounding word has a lot of Meaning behind it stands for a symbol of A snake or dragon eating his own tail to Form a circle or infinity symbol just Like Hal blockchain is unbroken pretty Cool Don't break the link of crypto content Though smash that like button and Subscribe to my channel to always get
The latest on what's happening in crypto Haskell is the programming language That's used by cardano developers this Is one of the many ways that cardano Sets itself apart from other blockchains Would you use a base coding language Something like python or JavaScript Haskell was named after mathematician Haskell Curry is designed to be more Predictable than other coding languages Hasbro functions in a way where the same Input will always produce the same Output You would think that all coding would Work this way but that's not actually The case Python and JavaScript allow for Something the developers call impure Functions where outcomes become well Sometimes unpredictable Sometimes this can make coding more Functional and give developers more Freedom but it can also be more chaotic And more difficult to control Haskell on The other hand is built to support pure Functions which is some constraints but It's also more stable and secure Something that's going to be necessary For a Global blockchain Network host Financial transactions and possibly even Votes during elections another important Term to know is plutus which is a smart Contract development platform on cardano An ancient Greek mythology pleases the
God of wealth which is pretty awesome For crypto name Produce platform uses the high school Programming language it allows Developers to write applications on the Cardinal blockchain there's also a lot Of help for developers who aren't Familiar with the Haskell programming Language via the plutus Pioneer program Which recruits and trains developers to Work with these new tools Next up is Daedalus another name for Major Greek mythology that represents a Skilled architect and Craftsman There's a perfect name for crypto wallet That's probably why they chose it they Are really killing it with these names Datalists is an open source Non-custodial wallet those specifically Designed for Cardinal holders Daedalus is also one of the best places For Colorado holders to stake their Ada Data is extremely secure because it is a Full node wallet which means that a full Copy of every transaction of the Blockchain is synced to the application Aside from cases of user error that Happens with all sub-custody wallets There have been no reported security Breaches for this wallet there are a few Limitations though Daedalus is currently Only available for desktop and it also Only supports Ada and other native Tokens on cardano but does not support
Any other blockchains so you'll need to Use a different wallet for your other Crypto assets keeping all of your crypto Assets in one place is usually a bad Idea anyways you'll also need a decent Desktop computer with good internet to Run this wallet [Applause] [Applause] [Applause] Mineral is another term you're going to Want to know if you're experimenting on Cardano mineral is a fictional metal Found in JRR tolkien's Middle Earth Universe and it also tends to be the Most expensive armor that you'll find in Role-playing games role-playing I don't Know if you're into that I'm not but the Cardano universe middle represents a Lightweight mode that enables fast sync Times for users in this mode users don't Need to download the entire card on a Blockchain to start transacting some Cases this can take hours or even days Depending on your internet connection Sad mother utilizes a cryptographic Technique known as recursive snarks to Validate transactions making it possible For users with Basic Hardware or slow Internet to use the cardinal Network Without needing to sync the entire Blockchain history Which makes it much easier to onboard New users so let's do a quick recap
Oroborus it's a consensus protocol Haskell is the programming language Plutus is where smart contracts are made Daedalus is the wallet missing role is The protocol for getting onto the Network quickly got it good let's keep Moving Hydra is also focused on scaling Hydra is a network of layer 2 protocols They're designed to help scale cardano There's another term taken from ancient Greek mythology you might remember that Hydra is a monster with multiple heads One of them is Invincible making it very Difficult to defeat Hydra achieves this By creating multiple heads each cable Processing a subset of transactions Independently this approach allows for Parallel processing of transactions Dramatically increasing the Network's Overall capacity without compromising on Security or decentralization The name is fitting because there are Multiple heads or state channels which Are essentially off-chain Pathways to Handle transactions before they go into Blockchain State channels and Hydra basically Helped offload transactions from the Main card on a blockchain which reduces Congestion allows for faster and cheaper Transactions it doesn't cause any major Breakdowns in security because all these Transactions can be verified on chain if There are any problems
Finally we come to Voltaire one of the Last pieces of the puzzle needs to come Into place to complete the Cardinal Ecosystem Voltaire represents the governance arrow Cardono with the implementation of a Voting and Treasury System Ada holders Will be able to use their stake and Voting rights to make important Decisions about the future of the Cardinal Network The Treasury System in Voltaire is Funded by a portion of transaction fees And staking rewards and this money can Be used for projects that the community Believe will benefit the corner Ecosystem That's your starter pack for cardano Your average speed with most of the Basic terms that you'll need to explore The Cardinal ecosystem that's all I got Be blessed good boy out [Applause] [Applause] [Music]