Ethereum Delirium: The Big List of Things You Should Know
In an effort to better understand Ethereum’s potential for disruption, I’ve aggregated this list of things you should know about the digital currency.
“The intent of Ethereum is to create an alternative protocol for building decentralized applications, providing a different set of tradeoffs that we believe will be very useful for a large class of decentralized applications, with particular emphasis on situations where rapid development time, security for small and rarely used applications, and the ability of different applications to very efficiently interact, are important. Ethereum does this by building what is essentially the ultimate abstract foundational layer: a blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications where they can create their own arbitrary rules for ownership, transaction formats and state transition functions. Smart contracts can also be built on top of the platform, with vastly more power than that offered by Bitcoin scripting because of the added powers of Turing-completeness, value-awareness, blockchain-awareness, and state.” -Ethereum White Paper![]
The main difference between Ethereum and Bitcoin with regard to the blockchain architecture is that, unlike Bitcoin, Ethereum blocks contain a copy of both the transaction list and the most recent state.
Theoretically, Ethereum-based token systems acting as sub-currencies can potentially include another important feature that on-chain Bitcoin-based meta-currencies lack: the ability to pay transaction fees directly in that currency.
Ethereum applications include:
Savings wallets.
Crop insurance.
IOT.
Farm-to-table produce.
Electricity sourcing and pricing.
Decentralized data feed.
Smart multisignature escrow.
Cloud computing.
Peer-to-peer gambling.
Prediction markets.
On-chain decentralized marketplaces.
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Im not sure where Etheroum is heading. I love ETH but i just reslized how centralized most of the coins are, unlike BTC. The news of Vitalik car crash accident coupke days ago made ETH tumble down like crazy.
I agree with your assessment here. I'm also a huge fan of ETH, but having a single individual be so (at least mentally) vital to the project is scary. Single point of failure, at least in the eyes of the community.
With that said IF something did happen and Vitalik decided to remove himself from being a part of ETH then I'm sure another group would take over, as it happened with ETC. Of course ETH would tumble a bit in value and may not rise as fast initially, but I think that is where we'd see if ETH can rise above the person who has been responsible for it.
In the long run it being more decentralized is a better option, but when it comes to the enterprise businesses, they are perhaps more comfortable with ETH because it is far more centralized and controlled than the rest of the crypto space... something these enterprises can naturally relate to.
Let's see where we go.
ETH hangout like there is sale.
Ethereum still is being doubted by the BitCoin Lovers. But Wait and See How BitCoin Was in Doubt During its Initial Periods the Same is Going to Happen Soon. So Hey BitCoin Lovers Sell Your BitCoins & Buy Ethereum Its Right Time to Multiply Your Portfolio. Good Luck !!!!
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Couldn't agree with you more, so much panicking going on. People need to chill or stop betting more than they can afford to loose. In due time it will rise look at what everyone said about bitcoin just 4 to 5 years ago! It has proved us all wrong and that the world is changing and bitcoin all things related is shaping the world which is exciting times now.
100%
i agree with you
well if you are unsure, then invest in both bitcoins and ether on the cheap. Either way, you are bound to benefit from the entire cryptocurrencies trend. Then again, don't forget about BANCOR, BNT is available on the secondary market for trading!
Wow, those are great thoughts on the subject of Bancor and BNT.
Theres still alot of correction to be done to ethereum one major problem is even though they talk about decentralized this and that ethereum itself is not decentralized.
What will die earlier: Bitcoin or Ether?
Neither one. Fiat might die as we're in an everything bubble
I'm going to go out on a limp and say Ethereum will overtake Bitcoin. There's so much use for Ethereum compared to Bitcoin, which has too many problems.
I hear people saying this often. But isn't Ethereum just going to get overtaken in it's turn as well? Will better currency's not keep succeeding eachother in an ever speeding up pace? Who's to say where we will be one year from now. I would really like to hear you view, and those of all others, on this :-)
Honestly, things are happening so fast in the crypto world, you never know. You have Antshares, NEM and others that are new to the game trying to compete with Ethereum, it's hard to say what's going to happen 1 year from now. All I know is, this is an exciting time for cryptocurrency.
Agreed. EOS looks like the next Ethereum killer. However it has to run it's 341 day ICO period so Ethereum has the time advantage here... much like Bitcoin and Litecoin .
anyone recommend Reddcoin ? i hear alot of good things about it ...
Implementation does not have to wait 341 days, they will have stream of Ethers coming in and they can make progress during the ICO. And once they finish first version, then each day will bring even more Ethers so each EOS will become more expensive. It's almost like having permanent huge sell wall on exchange for 341 days. I like the way Dan designed his EOS ICO. It's the most fair ICO of all, however it won't bring super profits to investors as with limited one day ICO.
I can't say I agree with EOS. How much do they really need to raise? The tech isn't even built or working yet. Why does Dan jump between so many projects? I just don't see commitment or proof that it should have valuations in the Billions before it even proves itself. Could be wrong here, but no ICO needs to raise more than a few million to get off the ground. Hopefully I'm proven wrong here in the long run, but I just can't see it being an ETH killer until it's actually being adopted and proving that its tech and team are more capable and nimble.
ICOs should not control how much they need to raise, otherwise they would have to limit the amount and create potential 5 minute ICO madness that is profitable only for the first few investors who managed to push transaction through congested network during first 5 minutes.
Dan created at least 3 good things: BitShares, Steem and fair ICO, so he gets his billions for his past results and good ideas. It's not his fault that investors push billions into his pockets. However I agree with you that BitShares suffers from lack of needed improvements due to Dan jumping on something else, like there is no bitETH market pegged asset, which would greatly improve exchange volume. Without all market pegged assets for all popular crypto currencies there is no difference between BitShares DEX and Poloniex in terms of 3rd party trust risk.
I don't like how BitShares DEX is half finished, but I guess BTS voters decided to not pay him to finish. I also wonder if anyone did reliable measurement of BTS speed or tried to spam the network like ETH or NXT to push it to it's limits and see if it goes down.
Latest news about Poloniex disabling BTS wallets does not add trust towards BTS.
His selection of hosting ICO on ETH instead of BTS is cool because he does not have to sell invested BTS putting pressure on his past creation BTS. Instead he will put sell pressure on ETH, which shows loyalty to his past investors.
The only fair way to control/limit total investment amount is to proportionally refund invested funds at the end of the ICO to make total valuation amount not worth more than X millions of USD or X thousands of ETH.
That way he can give proportional advantage to whales without taking from them insane amount of funds.
Totally agree
I think this is inevitable. This world of crypto coins is and will always be very dynamic, and one should not cling to any particular currency, but keep an eye on the promising new currencies that are emerging to gamble and invest in them.
Don't think so by looking by techs and smart contracts... it's more than a trading market it just got one cos the Wall Street change one currency to another... but the idea is another after it right? So the same mindset in another dimension will collopse... that's my prognosis as I believe all what is happening in the net especially what crypto currency gives opportunity to the world. So I am right ETH is nessacery for all other crypto currencies!? So it means as long as there are all the other working project ETH is valuable!? Or not of cos there is and I'm sure will be bitcoin even though if the technical progress will be slower than by other but the popularity and use of Bitcoin is more contributed around the world than something else. I'm sure that ETH will do his best to improve its techs and stay an important platform other project or sorry that I call it not in the way many do or as insider... pls forgive me for that! If I'm wrong in my theory pls correct me! I'm new but My head is spinning after reading and watching so much about it all)))) thanks for reading 😉
Totally agree with you here. If you're an investor, eyes open, always. Fanboying behind a currency is not going to help it grow. Spreading the word can, of course, but simply being loyal to one coin and bashing another reminds me of video game fanboys who get behind a Playstation or an Xbox or a Nintendo and refuse to acknowledge the other.
Have to be intelligent and stay on top of what is happening in this space because it does move fast and one false move and our investments can come piling down on us.
Bitcoin has been very robust. I think there will be enough space for all. Ethereum as a daily use for small transactions and contracts, businesses, and bitcoin as a long term store of value. Everyone's trying to figure out if this crypto will be bigger than that one but no one can really know for sure. All I know is that bitcoin has been very robust.
That's true, Bitcoin's price has been very healthy. But I wish all the issues with Bitcoin will be resolved. Bitcoin is the original coin, I prefer to see a crypto world with Bitcoin leading the way than one without .
I don't think Bitcoin price is healthy and Ethereum price too. Bitcoin tech is obsolete, I would not buy BitCoin even for 1$ per BTC and therefore I keep 0 long term investment in BTC. I think they both are priced so high because exchanges allow to trade pairs BTC and ETH against other currencies, so both BTC and ETH became medium of exchange and when majority of worlds crypto trading volume goes through these currencies, current price does not matter, so all people are paying small premium with each transaction or conversion into BTC and ETH ecosystem so their price went to the moon. Also only BTC and ETH have IRAs. I bet if you add your favorite crypto currency to trade against all other crypto currencies on most exchanges and allow to store it in IRA and it will suddenly become worth billions in market cap. Try to make BTS or NXT or STEEM such medium of exchange and I bet their price will multiply by 10.
So I wonder what EOS cap will be like compared to ETH and BTC in absence of */EOS pair trading and EOS IRA, but with much better tech. But if it gets to be medium of exchange then I will bet it will become #1.
I agree, however, have you heard of NEO (Antshares)?
Yes, I've heard of Antshares. The price of Antshares has been up all week, I'm waiting for a good time to buy some. You can't deny the potential of the Chinese market
Lol. Ok. I will just say that EOS is going to takeover Ethereum position in two years maybe earlier. EOS already raised so much that we can expect great dapps in the future. Maybe even this summer. EOS is the future and even though Bitcoin will continue to rise it's good for every crypto.
I think IOTA will be the one to watch with their Tangle. In this new autonomous Machine Economy IOTA will be the backbone. The Tangle ledger is able to settle transactions with zero fees so devices can trade exact amounts of resources on-demand, as well as store data from sensors and dataloggers securely and verified on the ledger.
I agree, IOTA is a game-changer. I expect it to start rising very soon, and very fast. I hope it dips again though first! I need to buy a few million more!
Check out Status a mobile Dapp that runs on the ethereum block chain making it easier to buy/trade cryptocurrencies
Great article, thanks for the information.
And nice returns of almost 705 $ for 8 votes.
keep up the good writing @dafahd
thank you
I don't think ethereum will go down I think ethereum will reach 1000$ by the end of the year
yes i agrree
The issue is bitcoin is gaining recognition in most countries like India, Russia, Japan etc...am not sure about etherium buth both are worth investing in...