Cardano Malaysia 🇲🇾

Users have experiences here that users got frozen by the bank for doing fiat on & offramps with Binance using p2p trading. reddit.com/r/Malaysia_Crypto… Proceed with caution & spread the word. Cc @bitcoinmalaya @CardanoKl @JustJobe @mushisenpai @AbaGengGeng @FIATNoMore

Officially a Cardano dRep, or "dRen" now. dRep ID (CIP-105): drep1lvs070xte7kfunnmx260lnc8fr66rpu7xzt90fz9s2ee5rympw9 dRep ID (CIP-129): drep1ytajpleue086e8jw0vetfl70qay0tgv8nccfv4aygkpt8xsjpgdys _____________________________________________________ A bit about myself: I'm no ordinary pizza who favours 1 topping, I believe multiple delicious, high quality toppings create the best type of pizza. Just like how I choose blockchains. I like Cardano, but I don't call myself a maxi, as I've also used 20+ different blockchains throughout my 5 year crypto journey, and it taught me a lot about what's good and what's bad. No blockchains are perfect, as Cardano also has its imperfections, which is why I'm gonna try myself as a dRep to present my thoughts from a different perspective. You don't need to agree with my opinions, as I could be wrong myself but I always keep an open mind to discussions or debates. It also helps me learn from your perspective and grow my own perception on a point of view. All I ask is this: "Don't be a f*ckin c*nt". Respect one another even though you disagree. With that said, here are my 4 key things that I would like to engage more often during the Chang-era: __________________________________________________ 1) Accelerate Cardano's scalability roadmap, while maintain an optimal balance for security and decentralization. IMO, I always felt a sense of security whenever I used Cardano & interact in their DeFi ecosystem, while the community also has a strong mindset for decentralization in every aspect. In addition, the power of eUTxO model does bring a lot of uniqueness and efficiency compared to Accounts-based model. Still, Cardano's biggest bottleneck is network throughput, and since the first day of the Goguen era (where Cardano's smart contracts went live) until now, Cardano's network throughput improvements are quite minimal, especially with the new Plutus version updates. We have the hydra & partnerchain toolkits live, but we haven't seen these toolkits being adopted by DApps on a large scale, and we must push for more usage of these types of toolkits + other great alternatives out there like Hydrozoa, ZkFold, Leviathan, Midgard, etc. Why a blockchain needs high network throughput? - Users like fast transactions that they don't need to waste time waiting to confirm. - Generates high & continuous stream of transaction fee revenue for SPOs to sustain the network consensus. - Useful & quality data (such as price feeds) can be used by DApps more frequently thus improving the overall reliability & performance of their DApps. - Handles more tx volume to support millions of users. Thus, I would love to be part of the active discussions on the development for Leios, Peras, Hydra, partnerchains, etc and hope we can see much faster progression to make Cardano as scalable as possible. __________________________________________________ 2) General economic view of Cardano & rewards incentivisation. I've seen many Cardano peeps that wants to put the max supply of 45 Billion ADA in the constitution that will never be changed. While I think this is a good mindset to have, we also need to think of the long-term issues of a fixed-supply tokenomics when the token emissions start to drop unsustainably low. Right now, tx fee rewards are mostly incentivised by token emissions instead of transaction fees (as all blockchains are currently suffering from this issue). To be economically sustainable in a fixed supply tokenomics, you're going to need the transaction fee revenue high enough to be able to keep up with the cost of running stakepools as transaction fees will be the main revenue source when the token emissions drop to approx. zero. There are two common ways to increase tx fee revenue: - Increase the tx fee params. - Increase the network throughput to generate more fees. And you'll want to be the latter if you don't want to be the next Ethereum L1, especially if Cardano's not able to scale in time when token emissions run low, low revenue may cost a lot of SPOs to shut down their operations, thus impacting security & decentralization of the Cardano network. Therefore, we should open up more discussions to devise plans to mitigate this. __________________________________________________ 3) Optimize the decentralization params Right now, we're boasting around 3,000 pools, but do you care to ask how many pools or SPOs are currently profitable & running sustainably? With the current params (minPoolCost, k & a0), > 1,000 pools are having a stake of less than 2 million ADA and not generating consistent revenue to sustain their pool costs. Thus, we need to have more discussions on what parameters to change and how to optimize further to maintain a fairer game to generate a more well-balanced revenue for the SPOs. __________________________________________________ 4. Bridge the knowledge gap between Malaysia & Cardano This point is more personal to me. In Malaysia, there's evidently larger crypto communities & events especially in the Bitcoin, Ethereum & Solana space. ETHKL is a well-known community in Malaysia that hosts workshops, talks, conferences and even "ZK-study groups" that helps onboard more Malaysian developers into building DApps. Cardano events are basically next to non-existent in Malaysia. We had one Cardano Summit before back in 2022 and basically that's it. We don't have physical Cardano events take place here (not even in Singapore, where Emurgo's office is situated, for god's sake). My only way of getting myself educated on Cardano is by watching YouTube videos, dissecting IOHK research papers that are long & difficult to understand, and reading tech documentations. There's a lack of quality courses to learn about developing on Cardano (especially with Aiken), and there's tons of resources out there teaching about Solidity. Thus, I'm also taking this opportunity to be a dRep as a way to network and see how to bring more Cardano adoption in Malaysia. Would also love to attend events or physical workshops in Malaysia that can let me expose to hands-on programming with Aiken that I can pick up more easily than spending a lot of time reading docs and not familiar on how to code. __________________________________________________ If you are a person who shares similar thoughts with mine, feel free to delegate to me ;) I'm an open-minded, analytical engineer who strives to be as neutral as I can be.