60 Matching Annotations
  1. Sep 2022
    1. Staking is already as centralised as mining. The Lido staking pool plus the Coinbase exchange plus the Kraken exchange add up to over 54% of total stake. Thems what has, gets.

      Proof-of-stake is already centralized

      Public records of the staked Ether shows that three entities have over 54% of the total stakes. These entities will reap the ongoing benefit of proof-of-stake with every block that is verified.

  2. Aug 2022
    1. Ethereum is about to start a new journey of mergers and review the crowdfunding road 8 years ago

      以太坊合并在即,一文回顾8年前的以太坊众筹

      经过多年的测试、研究和开发,人们对以太坊计划通过合并(The Merge)转为股权证明(PoS)的潜在时间表感到兴奋。这次合并可以说是以太坊历史上最大的协议级改变,它取消了挖矿并引入了一个验证者系统,验证者将质押他们的 ETH,以通过创建和验证新区块来赚取奖励。

      跟踪 ETH 供应继续引起关注,因为 ETH 持有量直接决定了用户参与 PoS 的能力。同时,转向 PoS 也将引入新的 ETH 发行模式,并影响 ETH 的货币政策。然而,为了更好地了解以太坊当前的供应情况,观察者需要回到以太坊网络推出前一年,即 2014 年 7 月 22日 至 2014 年 9 月 2 日的关键时期:ETH 众筹。

      本文将通过 Coin Metrics 的 ATLAS 数据对 ETH 众筹的情况进行数据回顾。在回顾销售背后数据的同时,也检查了当前的创世账户(那些参与众筹的人)。

  3. Jul 2022
    1. MetaMask is one of the indispensible apps of the Ethereum community, a household name that has initiated and shaped the crypto experiences of many. With NFTs, gaming, and DAOs bringing in large waves of new users to web3, wallets continue to be a fundamental building block in the ecosystem — they are the heart and center of all interactions between users and the blockchain.
    1. Compare this amount of compute to a Raspberry Pi 4, a $45 single-board computer which has four processors running at 1.5 GHz.  Each core has 2 ALUs and it will take 4 instructions to perform a 256 bit addition, as the basic unit for the Raspberry Pi (and most other modern computers) is 64 bits.  So each core has a peak performance of 750,000,000 adds per second for a total peak of 3,000,000,000 adds per second.  Put bluntly, the Ethereum “world computer” has roughly 1/5,000 of the compute power of a Raspberry Pi 4!

      A comparison of the compute power of Ethereum versus a Raspberry Pi 4

  4. Jun 2022
    1. Open educational resources (OERs) are fungible functional units used in education by both educators and students

      OERs on Ethereum

  5. Apr 2022
    1. Uniswap 无法区分零售或者套利, 在无论如何的市场条件下, 都遵从 x * y = k. 例如 Uniswap 这样的最简单的 CFMM, 会赢得稳定币这个方向, 因为完全不需要运营, 集成, 和人力成本. 部署合约, 就会自动运行, 计算成本和 gas 费用也是用户支付 (比 Jump Trading 牛逼多了). 只要在这样的情况下, 做到有 Jump Trading 的 80% 好就足够了.

      Haseeb 认为 Uniswap 击败订单簿有四个原因: 简单, 监管少, 提供流动性很容易, 易于创建激励. 尽管如此, 他认为 Uniswap 的成功不会永远持续下去, AMM 和 CFMM 可能只是一个技术上的过渡, 只是一个临时垫脚石.

    1. Linda Xie 教你入门以太坊. Linda 谈到了比特币与以太坊的异同, 以太坊上的身份和存储, 社交媒体, 权限管理, 公司管理和筹资应用. 相信你应该已经很了解了, 这里就不赘述啦

      2017 年是 ERC-20 的一年, 以太坊和比特币的币价一飞冲天, 生态也开始繁荣, 越来越多的 DApps 开始了自己的 ICO, 越来越多 DAO 组织开始建立. 我们再次进入了混乱无序的氛围, 各种问题层出不穷. 一些对区块链和 Crypto 深信不疑的人开始重新思考 Crypto 的优点和最初的出发点.

    1. Fred Ehrsam 将重点的关注从比特币聚焦到了以太坊上. 比特币的设计太过于完美, 任何改动都仿佛是画蛇添足, 真正的除了钱包和交易所之外的完备应用无法在比特币上诞生. 以太坊能提供完整的计算环境, 从而支撑起了无数的区块链上应用. Fred 提到了在以太坊上建立的 DAO 组织, 也就是在文章发布一个月后遭到攻击导致以太坊分叉的那个.

      比特币作为 Crypto 的先驱, 让以太坊得以诞生. 以太坊的智能合约相比比特币的 “智能合约” 更加简单易用, 更加方便开发, 社区更繁荣. 同时 Fred 也指出了, 以太坊的核心开发人员比比特币更加健康, 社区心态更加谦虚, 方向上更加有一致性.

      除了这些优点, Fred 也提到了以太坊的一些潜在风险: 资金量还不如比特币高, 尚未经历治理危机 (文章发布一个月后经历了), 因为功能更复杂所以风险更大, 可能会将共识改成 PoS (虽然五年后还是没换), 和网络拓展非常难 (这个问题已被各种 Layer2 慢慢解决).

      Fred 没有给以太坊和比特币是竞争还是互补关系下定论, 他认为以太坊的潜力巨大, 他对任何特定的链都不“忠诚”, 只想要任何给世界带来最大利益的东西.

      Fred 最后总结说 Crypto 的变化速度正在加快. Crypto 的愿景非常大, 要为整个世界创建一个更好的交易网络. Crypto 与互联网本身一样, 不是一家出售产品的公司, 而是一系列有朝一日会连接每个人的协议. 而且, 像互联网一样, 它的发展需要更长的时间, 但影响将是巨大的.

      还有就是他在一年后的 2017 年写了一篇文章, 内容主要是: 区块链是元宇宙的基础层.

  6. Jan 2022
  7. Dec 2021
    1. Ethereum is the locus of most of this work — hey, who named that client library web3.js, anyway?—so it’s not unrea­son­able to read “Web3” as “Ethereum-powered inter­net”.
  8. Sep 2021
    1. Because of high demand, the Ethereum network is getting overloaded. This resulted in very high transaction fees, making it to expensive for small investors to use it's dapps.

      High gas prices

    1. How to Create NFT MarketPlace?

      Owing to the worldwide requirement of the current Digital world, the NFT aspirants are actively looking for an efficient NFT Marketplace to showcase their collectibles. Statistics have defined that OpenSea and Rarible are bound to offer enhanced performance than most other NFT marketplaces. If you are an active entrepreneur or investor looking to launch your own NFT Marketplace Platform? You are in the right place!

      The NFT marketplace can be built in two significant ways.

      White Label NFT marketplace

      Build NFT marketplace from Scratch.

      White Label NFT Marketplace

      White Label NFT MarketPlace solutions are pre-built ones. It can be customized based on the client's requirements. It is more beneficial for the people who want to start an NFT with less capital investment. Development costs and the time to Create NFT Marketplace by opting for White Label NFT MarketPlace Software solutions are minimal.

      Building an NFT Marketplace from Scratch

      Building NFT MarketPlace from Scratch involves some basic steps like Blockchain selection, Finalizing features & functionalities, Developing Smart Contracts, UI Creations, Smart Contract Auditing & Bug fixing, Testnet deployment, release beta version or mainnet release. These NFT platforms are built based on the client's requirements. It is fully customized and we can integrate any unique features on it.

      Create NFT MarketPlace on your desired Blockchain network

      There are so many NFT Marketplace solution providers present in the crypto market. So tie up with the trustworthy NFT MarketPlace Development Company and check out the live demo of their white label nft marketplace and then create your own NFT marketplace on the desired blockchain network such as Ethereum, Binance Smart Chain, and TRON as per your wish.

    2. NFT MarketPlace Development

      Desire to Enter the Industry that generates Million Dollar Revenue, Our NFT Marketplace Development Services are perfect for you. Whether for Art, Music, Games, Real Estate or any Unique Digital Collectible, We Maticz leading NFT Marketplace Development Company develop domain-specific NFT Software Solutions to help meet your unique business demands.

    1. On Wednesday, Hofmann announced “synthetic Loot” — essentially, a replica Loot bag that can be claimed by anyone who sets up an Ethereum wallet for free.

      So after he made a bunch of textfiles in his garage, he copied them and gave them away for free. To anyone who becomes part of the crypto-ecosystem through Ethereum. Get people in the scene, get them hooked, make money....

    2. One idea he had was to let people create (or “mint,” in blockchain-speak) NFTs based on his random-item generator for free — essentially just to see what would happen. He would not provide any art work or any instructions on what to do with them. And he would give these “bags” of items away for free, minus the transaction fees required by the Ethereum network.

      So to find some analogy, Hofmann created a garage with tools. People could create whatever they want with the tools. No instructions are given, use your imagination. You can take whatever you created with you. You only pay a fee to take it out of the garage and be the real world owner of it. Something like that?

    3. developers have grown fond of an alternative blockchain, Ethereum, which is designed to let them create decentralized applications through more sophisticated smart contracts than Bitcoin enables.

      I need to find an easy example of such an application where Ethereum plays an important role.

  9. Aug 2021
    1. So how can rollups win in the long run?To my mind, there are two ways: one is that a non-rollup sidechain catastrophically fails, and the industry learns a lesson à la Mt. Gox. And catastrophically fail doesn’t just mean “nodes can’t sync.” It means “the money is gone” or “the chain has completely halted.” That’s possible, but probably unlikely.So that leaves us with the other way: rollups have to actually become significantly better than the alternatives. Decentralization virtue signaling is not enough. For this, I personally only see one path forward, which is the promise of cryptography and zero-knowledge proofs.

      How can rollups win?

      1. Sidechains fail.
      2. Rollups are significantly better.
    2. Many DeFi protocols have launched on Polygon, BSC because the platforms' very low fees have attracted a lot of users.

    3. (Note that ZK rollups don’t suffer from this issue, since their withdrawals are effectively instant.)
    4. Then consider the movement of funds in and out of rollups.For optimistic rollups, when you want to withdraw funds, there is a ~1 week challenge period during which your withdrawal is frozen. This sucks. So to facilitate “fast withdrawals,” market makers will stand ready to move your assets quickly across the boundary—for a fee. The fee they charge you will depend on their inventory and the liquidity of the asset. If you’re moving ETH, this will cost maybe 0.2% or something, but if you’re trying to move a random dog coin, it will likely cost much more, possibly 1% or higher. Some assets may not be possible to fast-withdraw at all if there’s not enough liquidity.

      How do funds move in and out of Optimistic Rollup?

    5. And none of the rollups are exactly EVM compatible — there are subtle differences between each of these rollups’ virtual machines and the EVM. For Arbitrum, they use AVM, for Optimism, OVM, each of which subtly breaks some contracts and EVM-compatible tooling. And for the ZK-rollups, that’s a whole nother universe — ZKRs will instead compile Solidity down to equivalent zero-knowledge circuits, to be executed in a ZK virtual machine.Now compare this to Polygon, where you literally just copy and paste your contracts and everything works.

      Side chains are more EVM compatible than Rollups.

    6. Why are rollups more expensive than these sidechains? This is because every rollup ultimately must post calldata onto Ethereum; this tethers their fees to Ethereum fees. Each rollup can only scale Ethereum by a constant factor. So the fees won’t be that low compared to what many users are already used to.

      Why are rollups more expensive than sidechains?

    7. Right now on Polygon, a simple Uniswap-style trade costs $0.0001. On Binance Smart Chain, it costs $0.20. On Ethereum, it costs about $7. And on Optimism, it’ll cost around $0.68.

      Compare swap cost between chains.

    8. I often say there are three motivations that drive crypto users today:Making moneyHaving funIdeologyOf these three, ideology is the weakest. And I worry that ideology will end up being the primary driver in favor of the adoption of rollups.

      What drive crypto users?

    1. Our thought exercise above puts the total potential valuation of ETH between $3.7 and $4.7 trillion in the distant future base on the following parts:ETH’s valuation as a consumable is likely bounded given its high velocity.ETH’s valuation as a capital asset with cash flows is likely in low single-digit trillions. $3.2 trillion was our point estimate extrapolated from a somewhat conceivable success case.ETH’s monetary value can potentially be $0.5 to $1.5 trillion. We assumed that the value from ETH’s payment functionalities will be nonexistent and that all of ETH’s monetary value comes from it being a non-sovereign store-of-value driven by DeFi.

      Ethereum total potential valuation.

    2. Ethereum will generate $60.2B annual fees. This is only an 18x increase from today whereas transaction volume and count would have increased by 250x and 3300x respectively. The deflationary power of technology!Finally, pricing ETH like a capital asset using a dividend growth model with the $60.2B number above gives the token a terminal value of $3.2 trillion in 10 years. Although this may seem like an enormous number, it is ten years out and does not account for any risk (e.g. technical, competition, regulatory). A shrewd investor needs to apply the appropriate probability or discount rate.

      Ethereum as capital asset's potential market cap in 10 years.

    3. it is believable that ETH can take 10% of Bitcoin’s market share if Ethereum and DeFi continue to grow. If we take the potential market cap of Bitcoin to be around $4.7 — $14.6 trillion, then ETH’s potential monetary value could be at $0.5 trillion — $1.5 trillion.

      Ethereum as monetary asset's potential market cap.

    4. ETH derives its value from two sources. First, its utility value, as described in the argument above. But the second source of its value is in its monetary premium, which derives in its preference as a “money-like” asset for use in the Ethereum economy.

      Ethereum's sources of value.

    5. Ethereum and DeFi have the potential to disrupt legacy finance and should be valued accordingly because of the following:Permissionless innovation at software speed: all DeFi protocols are open-sourced and composable. DeFi entrepreneurs can remix and innovate in finance at incredible speeds and reach a global audience with almost no fixed cost.Incentive alignment: with the right token mechanism design, all the stakeholders in the ecosystem (protocols, users, liquidity providers, engineers/protocol maintainers) can be properly aligned and growth can be bootstrapped with almost no upfront cost.Cost reduction: DeFi eliminates costs associated with legal, labor, compliance, and fixed infrastructure. Financial transactions in the legacy world are based on legal constructs and enforced by the government. The cost of recourse can be high and non-transparent in complicated situations like bankruptcies. These costs do not exist in DeFi because value is governed entirely by code.Frictionless capital and near-instant settlement: Capital within DeFi flows frictionlessly and programmatically with the sub-minute settlement — it is a truly digital-native experience. In comparison, payment rails from different jurisdictions do not natively talk to each other (better now with companies like Stripe and Plaid) in the legacy world. The processes are manual and many systems are decades old.Mass customization & synthetic assets: much like how the internet enabled companies to reach different niches users, DeFi will enable users to access almost any asset in the world. Today, through AMMs like Uniswap, anyone can create a new trading pair as long as they have the trading assets in inventory. Synthetic assets are taking this to another step. Theoretically, as long as there is a trusted data source, anyone can create a synthetic asset by providing on-chain collateral. Teams at Synthetix, UMA, Mirror and many others are exploring in this direction.Governmental neutrality: the financial system built on Ethereum is open and accessible to all. While this may not sound very attractive to users in countries with matured financial markets such as the U.S., it offers unparalleled advantages to people who live in countries where the local financial systems are less efficient or corrupted.

      Ethereum as the financial layer of future.

    1. When the Ethereum network starts to become congested, you always here talk about Ethereum’s gas limit. This talk can be confusing if you aren’t familiar with the term. Because, as it turns out the term gas limit is used in two different ways in Ethereum. As we’ve covered, transactions have gas limits. However, blocks themselves also have an overall gas limit. There’s limit for the total gas that can be spent on the transactions contained within a block. Limiting the gas consumed in each block helps manage the growth of the Ethereum blockchain and the cost of operating a miner or node. Miners collectively have the ability to increase or decrease Ethereum’s block gas limit within a certain range. Theoretically, raising the limit would allow the Ethereum network to process more transactions per second. So when transactions start to pile up, you’ll often hear discussion about miners signaling for higher gas limits.

      2 ways of using the term gas limit in Ethereum.

    2. When you send an Ethereum transaction, you specify your gas price, typically denominated in Gwei, and a gas limit. The gas price you set determines how much you’re willing to pay per unit of gas. Whereas, the gas limit determines how many units of gas you’re willing to pay for. You can think of your gas limit like a budget you set for the miner processing your transaction.

      Plain definition of gas price and gas limit

    3. Gas markets determine if and when transactions will get confirmed. Set your gas price too low and your transaction may get stuck. But, set your gas limit too low and your transaction cannot be executed because it runs out of gas.

      How gas price and gas limit affect your transaction.

    4. If you’ve ever sent a transaction on the Ethereum blockchain, you’re familiar with the concept of paying gas. The gas you pay covers the cost of computing your transaction. But, there’s no way to predetermine how much computation is required. And, that’s why you need to enter a gas limit for your transactions.

      Why needed gas limit?

  10. Aug 2020
    1. Ethereum and other smart contracting blockchains have failed to scale or provide any tangible benefits over the bitcoin blockchain itself. We are building a smart contract platform the way it should have been built the first time. On top of bitcoin.

      Smart k

  11. Jun 2019
    1. The association is the only party able to create (mint) and destroy (burn) Libra. Coins are only minted when authorized resellers have purchased those coins from the association with fiat assets to fully back the new coins. Coins are only burned when the authorized resellers sell Libra coin to the association in exchange for the underlying assets. Since authorized resellers will always be able to sell Libra coins to the reserve at a price equal to the value of the basket, the Libra Reserve acts as a “buyer of last resort.”

      Digital native coins like Ethereum are more advantageous due their less-trust-required nature. Libra Assoc.'s biggest challenge will be to earn trust and don't lose it.

    1. most popular smart contract

      Official basic solidity explanation. Notice the warnings about new versions breaking old coding methods. This is very common in solidity as it is still viewed as an in development language. Solidity is expected to remain a blockchain smart contract programming standard for quite sometime while other competing languages such as Rust, Java, C++, etc are expected to gain more ground particularly due to the introduction of the WASM low level language and the toolkit that supports it which is well established and well integrated. Here's a link to some more WASM goodness. https://hackernoon.com/the-three-eggs-in-a-distributed-basket-wasm-blockchain-and-reputation-296892cdd77c

  12. May 2019
  13. Mar 2019
    1. Understanding Monetary Premiums in Programmable Value Networks

      The TLDR is: Zuller proposes that social capital and financial capital form a virtuous circle for cryptonetworks, allowing first movers such as ethereum to gain a decisive advantage against competitors. Ethereum's accumulated social and financial capital make it difficult for a challenger to emerge as a general-purpose decentralised smart contract platform.

      My thought is Zuller's analysis of social capital ignores the long established body of work on on the topic, and this analysis could be better applied in the case of ethereum. I also think bitcoin is an interesting study in the effects of social capital and the viability of a decentral crypto network.

    2. Does physical capital lead to social capital, or does social capital lead to physical capital? Or is the relationship between the two circular?

      There is a large body of work in sociology and critical theory focused on this very question, spanning decades. The French sociologist Pierre Bourdieu analysed the relationship between social elites and their social capital, and concluded that class status is inextricably intertwined with social capital, allowing elites to leverage their "connections" to obtain disproportionately larger amounts of financial capital.

      In other words, well-connected, wealthy individuals are already endowed with large amounts of social capital, which they can then use to continue to obtain more financial capital.

      🔗 Bourdieu's seminal work

      🔗 The Routledge entry on Bourdieu

    3. DFINITY, Near, Polkadot

      These projects are all funded or founded by individuals with significant social and financial capital. They are therefore well positioned to challenge ethereum's dominance.

      By contrast, consider Satoshi Nakamoto's launch of the bitcoin network. As a pseudonymous persona with no history attached to it, Nakamoto had no social capital to speak of. This social capital had to be bootstrapped through a corpus of communications on the cryptography mailing list, and other fora.

      So bitcoin was launched with minimal social capital, by contrast to ethereum.

    4. extremely large social capital base.

      An analysis of ethereum should start with an analysis of the founder's social capital: Vitalik Buterin already occupied a rarefied position in the technology industry because of his Thiel fellowship, obtained as an adolescent.

      He then burnished those credentials by starting a publication, Bitcoin Magazine, which did not attract financial capital, but boosted his social capital through increased visibility and connections to the bitcoin world.

      Having leveraged his social capital in this way, he now made the leap to monetise it by finding collaborators to launch ethereum.

      Individual actors then use their association with the ethereum network to increase their own social capital. This in turn attracts investors of financial capital.

    1. EXCLUSIVE: The inside story of Spankchain

      The TLDR of this is: Spankchain has found a "product-market fit" between people who are shut out of the conventional financial and banking system, and technologies that route around that system.

      What's good about this piece is the amount of detail and colour contained in it about ethereum mogul Joe Lubin—for instance, I've never heard such interesting quotes from Lubin before, who tends to be rather careful and bland in his public statements.

      The piece also gets into some of the usually obscure internal decision-making mechanics at ConsenSys, which is an entity worth following closely in Crypto-Land, because it has recently carried out a number of lay-offs, and is a barometer for the health of the ethereum blockchain and cryptocurrencies in general.

      Lastly there is a nice segue into some of the philosophising behind this venture, which unfortunately for me, leads us to notions of all-powerful artificial intelligences saving the world.

  14. Jan 2019
    1. 以太坊社区及以太坊主要开发团队对以太坊的技术纯净性的追求较高,我们无法用工程化融合的方案来看待以太坊的进度,完美的世界计算机和一个全面的区块链工程化应用解决方案在本质上会有性能的个性差异。但相对于看好以太坊的创业者来说,熊市之中,性能较弱的尴尬涉及到了团队的生存问题,以太坊的信仰和共识可能被环境所打败,开发团队转移其他战场。

      <big>评:</big><br/><br/>

      在求变的过程中,总会有两派行动纲领互为对斥的声音站出来相互抨击。例如当人们谈论「本土」和「外域」时,本土原教旨主义者和全球化开放主义者之间的吵闹声总是尖锐刺耳,但恰恰是在这种极端到偏颇的较量之中产生了张力,推动现世朝着互不偏倚的方向演进,避免了演化成所谓的「分叉」(fork)。 <br/><br/> 有趣的是,即使是处在矛盾两端的反义词也可以互相转化,就像「草食男」也可以被视作「性感」一样,清晰的定义为「模糊另面」赋予了合理性。既然如此,那么像商业应用这么中庸且自制的容器也就更没有理由冒天下之大不韪去自立门户。创业者们不应该用工程化融合的方案看待技术,他们应该用这种视角去审视技术背后的人。

    1. Freedom to organizeAragon lets you freely organize and collaborate without borders or intermediaries. Create global, bureaucracy-free organizations, companies, and communities.
    2. The world’s first digital jurisdictionAragon organizations are not only great because they are decentralized, global and unstoppable. They will also benefit from the Aragon Network, the world’s first digital jurisdiction.

      "digital jurisdiction"

  15. Dec 2018
    1. 雖然許多公鏈開發項目方自稱為「第三代區塊鏈系統」,但本質上只是「更快的以太坊」,內部也沒有任何落地的應用出現,僅僅是個空轉的伺服器群,這背後的隱憂是,一旦以太坊完成 POS 實作,解決了 TPS 的交易處理性能問題,可滿足一定程度的商用場景,這些新公鏈的開發者與使用者將一哄而散,重新回到市占率最高的以太坊進行開發。

      <big>评:</big><br/><br/>应对此类预判的有效回应:为什么我们只能有一个以太坊?为什么不能同时存在多个「快速的类以太坊」?<br/><br/>看看国产手机厂商们基于 Android OS 定制的 UI 在大中华区的市场表现吧!自从 Google 退华后,相关的流言就未曾间断——比市面上这群竞品更强更好、哪怕是阉割版的 Google 将重返中国市场,扭转格局。但明眼人们心里清楚,这个全球最大市场已今非昔比,后来居上的模仿者们甚至成功改写了游戏规则。<br/><br/>总有东西能够超越人类的朴素共识,它可能是商品拜物教、地缘政治、意识形态、文化鸿沟中的任意一项。百舸争流,成王败寇。

  16. Jul 2018
    1. Approachable consumer experience. If you’ve ever tried to make a dApp transaction, you know how painful the process is. You need to set up an account to purchase coins, make the purchase, create a MetaMask account, send the coins to MetaMask, and, finally, verify the transaction. This is too much friction for the mainstream user.

      This is so true. Still looking for an application that can benefit from this concept.

  17. Jun 2017
  18. Jan 2017
    1. Ethereum,

      Ethereum is the way the internet should have been. I absolutely feel they are the forerunners of the future. Would love to see mozilla spearhead ethereum related projects.

  19. Jun 2016
    1. DAO, a venture capital fund based on Ethereum cryptocurrency, was hacked, and ether coins valued at about $55M were fraudulently transferred. This article gives some details of the hack.

      http://www.wsj.com/articles/investment-fund-based-on-digital-currency-to-wind-down-after-alleged-hack-1466175033 The account with the stolen ether coins has been frozen, and they plan to undo the fraudulent transactions. But this itself is disturbing to some, as part of the idea behind cryptocurrency is lack of a central authority.

      The creators of DAO proclaimed that the code is the contract. So if no laws were broken in the course of the hack, one could argue that the transfer is legitimate under those terms. https://medium.com/@Swarm/daos-hacks-and-the-law-eb6a33808e3e

      Apparently there are new attacks already. https://www.reddit.com/r/ethereum/comments/4ot3z8/dao_is_under_attack_again/

    1. The uncanny mind that built Ethereum - Vitalik Buterin invented the world’s hottest new cryptocurrency and inspired a movement — before he’d turned 20.

  20. Jan 2016
    1. http://r3cev.com/s/Watermarked-tokens-and-pseudonymity-on-public-blockchains-Swanson.pdf

      Yet if a network is comprised of known and trusted entities with legal, off-chain obligations to fulfill, then you have a set of different security assumptions to build around. And in the case of financial institutions, a feature such as proof-of-work via mining, which is currently core to public blockchains is an unnecessary and even redundant.

      This paper explores several of the drawbacks and challenges of using public blockchains for securing off-chain titles and concludes that these types of networks are not fit-for-purpose for globally regulated financial institutions.

  21. Aug 2015
    1. Open-source principles are a major point of distinction between DACs and the existing, overwhelmingly proprietary systems used for logistics, management and trading.

      Podría usarse ethereum para hacer más abiertos y transparentes los distintos elementos de la gestión de una ciudad.