What is Cardano? An introduction to the cryptocurrency being built by scientists

https://www.bitcoinbeginner.com/blog/what-is-cardano/

by impostervt • 9 years ago

28 18 9 years ago

marsrover2• 9 years ago

More detailed information: https://cardanodocs.com/introduction/

rushsteve13• 9 years ago

While the concept of a peer-reviewed cryptocurrency is an interesting one, and certainly has merit, I can't seem to figure out what Cardano offers that existing, and well established, cryptocurrencies like Ethereum don't.

impostervt• 9 years ago

Nothing, as far as I can tell. The goal seems to be just to do it better.

There MAY be an idea of keeping the computing layer private, meaning you can run computations w/o everyone seeing how it works, which is the case with Ethereum block chains. That's just the impression I get from reading their docs.

superquest• 9 years ago

They mostly pitch how their development process / governance is better. "Scientific" is the word they always use.

gremlinsinc• 9 years ago

Ethereum is pretty flawed actually, it's easily congested when new ICO's launch for example, and some other network issues.

Though, I can't say how this new crypto will handle things, I AM interested in seeing how Nxt/Ardor saga play out. It's much more secure, and stable than btc/ethereum and I think the child chain setup is going to be very popular.

frisby• 9 years ago

"...where you can Buy XMR (the token name of Cardano)"

This is incorrect

XMR is the token name of Monero

ADA is the token name of Cardano

sneak• 9 years ago

This is advertising.

rushsteve13• 9 years ago

I disagree. Within the last week Cardano has gone from relatively unknown to the 6th highest market cap on https://coinmarketcap.com. There is certainly enough of a surge in interest to make this a relevant post.

marsrover2• 9 years ago

I'm pretty sure the fact that the "article" links to both Coinbase and Binance with referral IDs classifies this as advertising.

infinity02• 9 years ago

Brief review I did of the paper a while back:

Forkable strings (a la Ouroboros) makes unrealistic assumptions.

Ouroboros is a Proof-of-Stake altcoin that comes with a security proof based on the idea of "forkable strings".

As a brief introduction: each round/epoch consists of a sequence (of length n) of leaders, each chosen from a set of stakeholders, that have the authority to decide between multiple valid branches of a fork. They model this, using a concept they invent called a "forkable string", and prove various security properties about it.

The full definition can be read in page 16 of the Ouroboros paper. One key assumption is that they assume all the honest leaders (say, at indexes H = [i], a subsequence of the full sequence [0, 1, ..., n-1]), will only commit to chains that have increasing depth, as i increases.

For example, suppose that our sequence of leaders is 5 stakeholders long [s1 ... s5], and stakeholders s2, s3, s5 are honest. Suppose we start off at block O. Then suppose that s2 commits a new block B 2 blocks away from O:

O <-- ? <-- B[s2]

(The arrows go in the opposite direction in the paper, but I prefer it this way because that is how the references go. ? knows about O, O doesn't know about ?.)

Then a "forkable string" assumes that s3 knows about B[s2], and since s3 is honest (as we assumed for our scenario) she will commit her new block C, >2 blocks away from O. Suppose she commits it 3 blocks away:

O <-- ? <-- ? <-- C[s3]

Then s5 knows about C[s3], and being honest, will commit his new block E, >3 blocks away from O:

O <-- ? <-- ? <-- ? [..] <-- E[s5]

Using this property (and others) of forkable strings, the authors then go on to prove various security properties about Ouroboros.

As you might have noticed already, this property assumes that all honest nodes can reliably receive all other honest nodes' blocks. The paper in fact freely admits this in various places, e.g. on page 10 and page 16. I was already skeptical when reading that, but the fact that this assumption forms such a key requirement of their security proof raised my eyebrow(s) even further.

If every honest node can reliably receive all honest nodes' blocks, we don't need any complex leadership selection algorithm nor the idea of forkable strings. Everyone can just sync (union) their view of what blocks they've seen with each other via this magical "reliable channel", and run a deterministic pure algorithm like `sort | head -n1` to disambiguate any forks!

The whole point of a maxvalid() algorithm (e.g. PoW in bitcoin) is to secure the case where nodes including honest ones, don't have reliable channels to each other e.g. because they are under attack, or because of pervasive network latency. As soon as you assume they already have a reliable channel to everyone else, you have already "begged the question", and anything you build on top of this (like `sort | head -n1`) is guaranteed to "work".

(Another strange thing, is that the authors allow the attacker to selectively show different honest nodes different stuff [1], but for some reason is not able to prevent honest nodes from seeing all other honest nodes' stuff.)

[1] e.g. page 17 "the honest player associated with the third slot is shown a chain of length 1 produced by the adversarial player of slot 2" but is unable to see the other (2) node, that eventually forms the ^t chain ("tine").

foobar41232• 9 years ago

[1] e.g. page 17 "the honest player associated with the third slot is shown a chain of length 1 produced by the adversarial player of slot 2" but is unable to see the other (2) node, that eventually forms the ^t chain ("tine").

This could be explained by the adversarial player creating two blocks very close to the end of the round during slot 2. If the third player creates his block near the beginning of his round, then he would be unaware of the other (2) node.

To your main point:

As you might have noticed already, this property assumes that all honest nodes can reliably receive all other honest nodes' blocks. The paper in fact freely admits this in various places, e.g. on page 10 and page 16. I was already skeptical when reading that, but the fact that this assumption forms such a key requirement of their security proof raised my eyebrow(s) even further.

Even in bitcoin, all nodes must eventually be able to communicate with the p2p network (and therefore be able to receive all other nodes' blocks, honest or otherwise). How could you tell if there is a fork, otherwise?

The assumptions are explained in page 6, under Diffuse functionality:

Additionally, parties can instruct the functionality to diffuse a message, in which case the message will be appended to each party’s incoming string... The adversary, when activated, may also interact with the functionality and is allowed to read all inboxes and all diffuse requests and deliver messages to the inboxes in any order it prefers.

In other words, the adversary is allowed to send individual messages to individual parties, but not prevent a party from receiving any other party's message within a round (which corresponds to the time between blocks).

An adversary could send a message to a slot leader and perform a DOS attack to prevent him from receiving other messages from other parties, and this seems to be an overlooked attack vector. Although, on the other hand, I'm not sure how the adversary would know which ip address to perform the DOS attack on. Just knowing the stake address wouldn't reveal that information. So unless the adversary has the power to DDOS a large percentage of the network, they couldn't do this.

If every honest node can reliably receive all honest nodes' blocks, we don't need any complex leadership selection algorithm nor the idea of forkable strings.

If there is no leadership selection, there is no way to throttle the speed that blocks are received, and the system could simply be DOS'ed by overloading it with blocks.

Everyone can just sync (union) their view of what blocks they've seen with each other via this magical "reliable channel", and run a deterministic pure algorithm like `sort | head -n1` to disambiguate any forks!

The point is to prevent long running forks. "sort | head -n1" would work if the branches were all static, but not if an adversary with a large, but not majority stake, saved both branches and then added a block to them, the new longer branch would be preferred. If an adversary could do this, they could create a long standing fork, lasting indefinitely. pg 15 (in the below text, a w of 1 indicates an adversarial node, and a w of 0 indicates an honest node):

We start with some intuition on our approach to analyze the protocol. Let w ∈ {0, 1}n be a characteristic string for a sequence of slots S. Consider two observers that (i.) go offline immediately prior to the commencement of S, (ii.) have the same view C 0 of the current chain prior to the commencement of S, and (iii.) come back online at the last slot of S and request an update of their chain. A fundamental concern in our analysis is the possibility that such observers can be presented with a “diverging” view over the sequence S: specifically, the possibility that the adversary can force the two observers to adopt two different chains C 1 , C 2 whose common prefix is C 0 .

The whole point of a maxvalid() algorithm (e.g. PoW in bitcoin) is to secure the case where nodes including honest ones, don't have reliable channels to each other e.g. because they are under attack, or because of pervasive network latency. As soon as you assume they already have a reliable channel to everyone else, you have already "begged the question", and anything you build on top of this (like `sort | head -n1`) is guaranteed to "work".

The point of the maxvalid() algorithm is to prevent the doublespend attack. Handling the case where all nodes don't have reliable channels to each other is overkill. You just need to handle cases where some nodes don't have reliable channels.

infinity02• 9 years ago

(Trying to group related points together)

Even in bitcoin, all nodes must eventually be able to communicate with the p2p network (and therefore be able to receive all other nodes' blocks, honest or otherwise). How could you tell if there is a fork, otherwise?

The security-correctness proof of bitcoin doesn't depend on "honest nodes reliably receiving all honest nodes' blocks". Actually bitcoin is simple in that it doesn't try to distinguish between honest vs malicious, the security argument just says with overwhelming probabliity that any colluding subset of nodes with >50% computation wins.

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In other words, the adversary is allowed to send individual messages to individual parties, but not prevent a party from receiving any other party's message within a round (which corresponds to the time between blocks).

But transports are unreliable and systems buggy, and so this could happen anyways in a real run of the protocol.

An adversary could send a message to a slot leader and perform a DOS attack to prevent him from receiving other messages from other parties, and this seems to be an overlooked attack vector. Although, on the other hand, I'm not sure how the adversary would know which ip address to perform the DOS attack on. [..]

Honest parties of the protocol have to be able to contact the leader by the normal operation of the protocol, so the attacker could just hook into this mechanism.

More generally, these are not holes that one wants to leave untreated by the protocol, it can open up escalation / chained attacks.

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The point is to prevent long running forks. "sort | head -n1" would work if the branches were all static, but not if an adversary with a large, but not majority stake, saved both branches and then added a block to them, the new longer branch would be preferred. [..]

When I say `sort | head -n1` I don't mean "also prefer longer branches", I mean only `sort | head -n1`, unconditionally on all fork-points. Assuming honest nodes can all reliably broadcast (which the paper does, even explicitly on page 16), this is enough to achieve the "unforkability" property. (The attack you mentioned wouldn't work because the longer branch would still be ignored.)

Handling the case where all nodes don't have reliable channels to each other is overkill. You just need to handle cases where some nodes don't have reliable channels.

I agree the former is overkill, but the security assumptions of "forkable strings" don't handle the latter case, it assumes it's already handled.

cem3394• 9 years ago

Then a "forkable string" assumes that s3 knows about B[s2], and since s3 is honest (as we assumed for our scenario) she will commit her new block C, >2 blocks away from O. Suppose she commits it 3 blocks away:

I think you're misunderstanding the protocol.

The purpose of the PVSS scheme outlined in section 5.2 is to provide all stakeholders with a verifiable random seed R, which they then independently use to identify all slot leaders for the epoch. This means that—irrespective of honesty—stakeholder si can only create a block in slot i. In particular, in your example stakeholders s2, s3, and s5 can only create blocks in slots 2, 3, and 5, respectively.

The strategy left to the dishonest stakeholder si is to create duplicate blocks in slot i and distribute them to different portions of the network. See figure 5 on p. 17 for an example.

If every honest node can reliably receive all honest nodes' blocks, we don't need any complex leadership selection algorithm nor the idea of forkable strings.

The protocol definitely does not make this assumption. The purpose of the forkable strings analysis is to show that the probability that a random seed R generates an advantageous slot assignment for forking attacks decays exponentially with the number of slots in the epoch.

If honest nodes could all communicate reliably this analysis would be unnecessary. For example in the case given in figure 5, stakeholders s3 and s5 could both abandon their tines and fill in slots 3 and 5 on the middle tine.

thisisit• 9 years ago

Can someone please explain to me why is this being voted up? This an obvious fluff which hand waves through most of the stuff by saying - refer to the cardano website. Then, if you are impressed by the lack of info, there are two referral links for coinbase and binance.

Talyen42• 9 years ago

science-based dragon-based cryptocurrency built on peer review pixiedust of the academia elite

there may be some good ideas buried under all this bullshit marketing buzzwordery, we'll probably find out next year

What is Cardano? An introduction to the cryptocurrency being built by scientists

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