InfoByte | Ethereum (ETH)

The First Decentralized Blockchain Applications

 

1453833844_ethereum

“Consensus-based globally executed virtual machine”Vitalik Buterin (creator)

Information + Resources

 

Official Site
Ethereum.org

 

Whitepaper
Whitepaper – Github

 

Development Roadmap
Ethereum’s Road Map For 2017 – ETHNews

 

Wiki
Ethereum

 

Beginner’s Guides
Vitalik Buterin – The Cryptoeconomic way – TheBlockchain.NZ conference
Devcon2: Ethereum in 25 Minutes by Vitalik Buterin
An in-depth guide by BlockGeeks

 

News sources
Official Blog
ETHNews
Enterprise Ethereum Alliance News
Crypto Coins News
Coindesk
Coinspeaker
Cointelegraph

 

Social Media
Twitter
Vitalik Buterin’s Twitter (creator)
Facebook
Subreddit

 

 


Ethereum1

Description

Ethereum, by former Bitcoin programmer Vitalik Buterin, is a decentralized network – utilizing a Proof-of-Work system – that allows any applications written in its language to be executed over a secure global blockchain server rather than on hardware – opening so many possibilities, especially in places of poverty. This is done via “smart contracts” with Ether ETH (the token) used as “gas.” Ethereum went live in 2015 and allows for every kind of blockchain application. It is supported by many major development partners.

Ethereum is a “Turing-complete” network, meaning it can handle any application given to it in a custom Javascript and C++-based language called Solidarity and other languages. Ethereum also supports a Python-like language called Serpent and a Lisp-like language called LLL. A Go-based language is supported as well, called Mutan. Expect more to come as they reach next phases, including a new Python-based research programming language called Viper. The cloud’s processing power is supplied by data miners and servers globally. This means potentially thousands of applications could be run through Ethereum’s cloud in parallel. These apps can never go offline and are very secure as well due to the network architecture. Developers can develop on the network without their own hardware using ETH for payment.

Many interesting apps are in development on Ethereum, including Weifund, a decentralized crowdfunding program, Augur, a prediction machine with its own rapidly-growing token (REP), BlockApps, a project attempting to streamline blockchain applications, and ZCash, a highly valued cryptocurrency project. There are many other cool projects out there for the platform called ERC20 tokens, like Golem, TransActive Grid, Bancor Protocol, and Basic Attention Token (by the Mozilla founder plus the Java creator). This may very well be what future internet use looks like, as well as how we get the necessary processing power for problems like Artificial Intelligence or an automated resource-based economy.

Ethereum’s business enterprise now has over 140 companies involved as of Sept. 2017, many in the Fortune 500. This is one worth watching for sure.

It’s worth understanding Ethereum Classic (ETC) as well. Ethereum Classic was Ethereum before a “hard fork” last year. The hard fork (network code change that follows a new block chain) had to do with a major hack in the network causing currency to be stolen, with most of it recovered after the server was split. Ethereum Classic has a very interesting team behind it, and is meant to represent the anti-establishment side (as in no business conglomerates are associated). Time will tell if they manage to establish themselves as an alternative.

Singapore’s Dollar was recently tokenized using Ethereum’s blockchain. Wow! Russia, China, and England may be next. I expect Ethereum to be a major infrastructure in the world if their plan keeps working and so many companies and interest groups keep adopting it. Even Vladimir Putin met with creator Vitalik Buterin, endorsing the project.

In October 2017, Ethereum’s latest update/fork, called Byzantium, occurs as part of the Metropolis update, bringing new security and to the blockchain partly based on ZCash’s work, in the aim of improving the overall reliability and functionality of a tech still in its very early days. The next fork after that will be called Constantinople.

Future: So very bright

Vitalik-buterin-keynote-metropolis-1024x512-01-27-2017.jpg


// Written May 28, ’17. Price at the time: $170 / ETH

// Edited June 15, ’17. Price at the time: $330 / ETH

// Edited June 19, ’17. Price at the time: $370 / ETH

// Edited June 22, ’17. Price at the time: $336 / ETH

// Edited June 26, ’17. Price at the time: $265 / ETH

// Edited Sept 26, ’17. Price at the time: $288 / ETH

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