Charles Hoskinson is the founder of Cardano, co-founder of Ethereum, a mathematician, and a farmer. Please support this podcast by checking out our sponsors: - Gala Games: https://gala.games/lex - Allform: https://allform.com/lex to get 20% off - Indeed: https://indeed.com/lex to get $75 credit - ExpressVPN: https://expressvpn.com/lexpod and use code LexPod to get 3 months free - Eight Sleep: https://www.eightsleep.com/lex and use code LEX to get special savings EPISODE LINKS: Charles's Twitter: https://twitter.com/IOHK_Charles Charles's YouTube: https://www.youtube.com/user/charleshoskinson Cardano Website: https://cardano.org/ IOHK Website: https://iohk.io/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: - Check out the sponsors above, it's the best way to support this podcast - Support on Patreon: https://www.patreon.com/lexfridman - Twitter: https://twitter.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Medium: https://medium.com/@lexfridman OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) - Introduction (09:12) - What programming language is the simulation written in? (14:17) - Favorite philosophers (23:18) - Theory vs engineering in cryptocurrency (34:27) - What programming languages should everyone learn (42:42) - Haskell and beyond (46:26) - Plutus: Cardano's smart contract platform based on Haskell (50:53) - What is a blockchain? (55:05) - Hybrid smart contracts (1:00:55) - Proof of work vs proof of stake (1:09:42) - Cardano's proof of stake consensus algorithm (1:20:14) - What is Cardano? (1:28:55) - Cardano vs Ethereum vs Bitcoin (1:38:50) - The problem with Bitcoin (1:48:24) - Bitcoin Conference (1:52:05) - Ergo and Alex Chepurnoy (1:59:15) - Cardano's Extended UTXO Model (2:06:27) - Chainlink and Oracle Networks (2:13:40) - Cardano and Wolfram Alpha (2:18:35) - The future of video games (2:27:10) - Smart contracts timeline for Cardano (2:34:40) - Decentralized exchanges (2:40:21) - Jack Dorsey and Bitcoin (2:46:33) - Elon Musk and Tesla: Cardano, Ethereum, Bitcoin (2:49:50) - Dogecoin and Elon Musk (3:01:11) - Hydra vs Lightning Network (3:08:45) - Non-Interactive Proofs of Proof-of-Work (NIPoPoWs) (3:12:39) - Cardano failure modes (3:21:00) - Cardano vs Polkadot (3:26:05) - Vitalik Buterin (3:34:16) - Corrupting nature of power (3:44:26) - Satoshi Nakamoto (3:50:37) - Cardano's vision for decentralized governance (4:03:31) - Cardano in Ethiopia (4:07:33) - El Salvador and Bitcoin (4:13:50) - Cryptocurrency will inject capitalism with long-term incentives (4:23:42) - Day in the life of Charles Hoskinson (4:30:59) - Mushrooms (4:37:07) - Joe Rogan (4:42:00) - Video games (4:54:14) - Advice for young people (4:57:23) - Meaning of life
Kim Phuc and Max Schaefer discussed the story of North Korea and the potential for blockchain to create immersive and persistent gaming experiences.
With 8Sleep, you can now enjoy a cold bed in addition to air conditioning to improve sleep quality. Despite the hot weather in Austin, this tool can guarantee better sleep quality, making sleeping hours more productive.
The universe may be a self-evolving system, similar to NOMIC, with simple rules that can reconstruct all of reality according to Stephen Wolfram. However, it is difficult to understand the system when you are stuck within it.
The podcast discusses the relationship between language and mathematics, including attempts to construct an ambiguity-free language and efforts to increase precision in analyzing formal and spoken languages.
Theoretical computer science and philosophy have distinct areas of concern. While computer science focuses on the complexity of processes, philosophy concerns itself with the human thought processes behind these processes.
The formal methods and computer science theory have made huge strides over the past two decades but there is still a gap between the theory and the practical aspects of implementing them in systems that people use due to the complexity of these systems.
Charles Hoskinson discusses the challenge of aligning incentives in complex systems, such as modern economics, and the role of programming languages like Haskell in building infrastructure for cryptocurrencies like Cardano.
The benefits of adopting functional programming include easier application of stronger development tools such as property-based testing, static analysis, among others, as well as easier code reading, though religious devotion to programming languages could be a drawback.
Scala 3 is suggested as a language for new computer science students as it is a hybrid language that has a connection to understandable things like Java and can be used for both functional and object-oriented programming.
The ideal language for expressing smart contracts should have self-contained programs like scripts, be easy to modify standard compilers of C++ and Cs, but avoid global state like Ethereum.
The ability of blockchain technology to track the ownership and state of a property's rights, such as land or mineral rights, could improve the transparency and auditability of a wide range of industries, from gaming to medical records to supply chains.
The universe has a way of updating the ledger of physics that stays consistent, similar to cryptocurrency's hybrid proof-of-work and proof-of-stake system. Meanwhile, proof-of-work adherents hold that this is the only valid system.
This podcast discusses the advantages of proof of stake over proof of work in the world of cryptocurrency, including the potential for greater decentralization and competition to build the perfect proof of stake system.
The concept of going one to end and having multiple resources is something that Proof of Stake doesn't suffer from, and has properties that are hard to replicate in the Proof of Stake world.
The evolution of consensus algorithm in cryptography requires different cryptographers and the biggest leap was from classic to Prowse, as it moved from a system that only worked in a consortium chain like Fabric to a specialized system with different actors. There are several hard problems to be solved along this chain of papers, ideas and the evolution of the consensus algorithm.
The intersection of cryptography, systems, and economics in the cryptocurrency space is driving the collaboration of academia and professionals to tackle complex, interdisciplinary problems.
IOHK CEO Charles Hoskinson discusses the work they're doing on the Cardano blockchain project to build a universal protocol that can handle legacy finance tasks faster, cheaper and better.
Charles Hoskinson explains how Cardano aims to create a financial operating system with a minimum viable set of tools and social processes that can evolve to meet the needs of users and mitigate pain points, ultimately leading to a competitive system. This system is based on a digital identity that serves as a basic mechanism for social interactions.
The use of blockchain technology has the potential to transform how we measure and manipulate value, and remove the need for middlemen. With the integration of programming language and the lack of encumbrances, the possibilities are endless.
Robert Leshner discusses the possibility of returning to Bitcoin and Ethereum as new DeFi providers explore multi-chain compatibility. He also mentions the potential evolution of Bitcoin into a third-generation system.
The network effect of a successful technology coupled with regulatory approvals makes it difficult to correct the system's downsides despite the resulting limitations. Successful individuals in one area are not necessarily good in other areas years later.
Exploring the concept of transitioning physical economies, specifically gold, into the digital space to create a digital economy.
The interviewee reflects on the early days of Bitcoin and how it led to the development of new technologies. He recalls the accessibility of developers at Bitcoin conferences and the natural progression towards building new technology based on Bitcoin.
The modularity of blockchain design allows for the easy integration of new features such as secure cadmium or different consensus protocols, resulting in faster experimentation and implementation of ideas.
Vitalik Buterin discusses how rollup technology, which allows more transactions to fit into a single Ethereum block by compressing them, might provide a better scaling solution than sharding. He also highlights the challenges and advantages that come with implementing complex contracts on blockchain while still maintaining the integrity of the system.
The Climeric Ledgers paper talks about mapping UTXO and Accounts systems and how a giant network of data works together. It also describes the idea of creating higher level languages and using design patterns to compensate for the differences between these systems.
In this episode, the CEO of IOHK, Charles Hoskinson, talks about the future of decentralized finance and the importance of Chainlink as a key player in the ecosystem. He emphasizes the need to support a spectrum of decentralized systems, and discusses the potential for migration to or support from Chainlink in the future.
The ideas of off-chain data and trusted hardware can revolutionize the way we put the internet together and bring ownership to virtual items outside of gaming companies like Blizzard. Additionally, trusted hardware can help secure access to sensitive information online.
The potential to build economies inside video games can lead to long-term engagement and virtual property ownership, with examples including Eve Online and Second Life, and CryptoKitties operates as a blockchain-based interactive game where creatures can breed to create new CryptoKitties that can be owned.
The Alonzo upgrade is set to introduce smart contracts on Cardano, and progress is on track with users successfully testing the system on the public infrastructure.
The cryptocurrency industry is trying to figure out standard procedures for regulating exchanges in lieu of potential regulations from outside regulators, with the University of Wyoming setting up a Smart Contract Engineering Institute to create standards for auditing smart contract code.
This episode discusses the difference between proof of work and proof of stake and the importance of exploring how to transition from one to N and what N should be.
Energy consumption is a critical point to consider in the cryptocurrency space, especially for companies that prioritize alternative energy and sustainability. Focusing on the most energy-efficient cryptocurrency can ultimately benefit both the environment and the security of the system.
If vehicles from different brands could talk to each other, it could create a marketplace for data exchange that would benefit autonomous driving and safety enhancements, without any notion of intellectual property behind it. Tesla is considering V to I and V to V communication for its autonomous vehicles but there are open-source documents available that provide the types of information that engineers would need to do this with other branded cars like GMs or Fords.
The spirit of Dogecoin is similar to Elon Musk's combination of humor and extreme ambition in the face of impossible odds, which requires taking bold risks in the space of ideas.
The idea of micro-tipping applications can be used in rich smart contracts that require off-chain handling and on-chain reconciliation.
The success of Bitcoin relies on the community to self-evolve and grow the system, beyond just its monetary value. However, the current control of a small group of actors needs to change for Bitcoin to continue to succeed.
The founder of Cardano, Charles Hoskinson, discusses the technical, philosophical, and historical differences between Cardano and competitor cryptocurrency Polkadot, including their approaches to ecosystem curation and predictability of future expenses.
This is an unrelated conversation about Bitcoin and travel experiences with no coherent message.
The responsibility of managing large amounts of wealth or inheriting titles can be overwhelming, but maintaining a playful attitude and focusing on creativity can help individuals find their purpose. Keeping a balance between physical and digital spaces is key to navigating the responsibility that comes with wealth and title.
Keeping yourself grounded is the single best way to handle power. Developing a mindset of detachment and giving, usually results in receiving more back.
The guest shares insights into Hal Finney's involvement in the early days of Bitcoin and how he may have approached the project with a focus on engineering before protocol design. They also discuss the use of machine learning to identify anonymous code authors.
This podcast discusses creating a critical mass of participation in protocol design and improvement proposals through a change management system, using examples from Governance Live and IdeaScale partnerships, and with over 30,000-40,000 participants regularly engaging.
The process of writing a SIP involves creating a canonical code base, developing a voting process and reading through mathematical prose in formal specification.
The decentralized identifier (DID) system can be used to provide a decentralized solution for education records and other forms of identification. It is designed to be extensible, and can be used for payments, verifications, and other purposes as well.
This podcast episode discusses the potential of cryptocurrency to push power to the people, alleviate suffering caused by centralized power, corruption, and automation. It also touches on the impact of cryptocurrency in the election system.
The podcast discusses the need for a fair economic system and how tokenomics can help in creating an incentive model focused on long-term thinking, leading to less corruption and more open opportunities.
The burden of innovating monetary systems not only entails academic beauty of algorithms but also millions of human lives at stake. Delegating and trusting people may increase the risk of failure, but it is worth taking it since it amplifies oneself.
The podcast talks about the negative effects of overworking and substance abuse in tech industries, with personal accounts of individuals who have struggled with substance abuse.
The speaker shares how he values alone time to generate new neurons and foster creative thinking. His chief of staff recommended having do not disturb days, such as Fridays, to allow for uninterrupted focus.
Cordyceps is a fungus that infects insects and takes control of their behavior, ultimately bursting out of their head and spreading spores. It is also being studied as a potential treatment for depression when paired with SSRIs.
The speaker talks about meeting a man named Bill Yule at a mushroom festival in Cape Springs, Georgia and discusses the potential for discovering new species of mushrooms in certain areas.
The importance of taking a closer look at our monetary system and governance is highlighted by the current state of affairs. Changing our voting system can potentially empower people, and in order to do that, we need to study the history and understand the future possibilities.
The 2016 game Event Zero allows players to have a dialogue with an AI as a marooned astronaut on an abandoned space station, highlighting the potential for algorithmically generated music and other AI features in game development.
This podcast discusses classic video game endings, including a game where you can convince the villain to kill himself instead of fighting you, and a game with 40 different endings and thousands of pages of dialogue.
The speaker shares insights about living in Osaka, mentoring others, lifelong learning, and pursuing personal passion. He also talks about his desire to wander around Japan in search of the perfect cherry blossom and his thoughts on Minecraft.
Charles Hoskinson talks about his broader vision both in life and for his work with Cardano, emphasizing the importance of finding happiness and empathy for others. Meanwhile, he shares an interesting fact about woolly mammoths and references the documentary, "Jiro Dreams of Sushi".
In this podcast, Charles Hoskinson discusses the differences between Ethereum and Cardano, his views on the future of blockchain, and his love for mathematics with Lex Fridman.