What is Ethereum?

Great article article and video explaining “What is Ethereum?” By Stephan Tual.

 

EthereumMy name is Stephan Tual, I’m the CCO for Ethereum

my background is IT, startups and development My role at ethereum is to bring together entrepreneurs, developers and investors to build decentralized applications on our platform Ethereum is an open source platform to build, distribute next-generation decentralized applications That is, applications that have no middlemen where users

interact with social systems, financial systems, gaming interfaces all in a peer to peer fashion Because the ethereum network will be distributed on hundreds of thousands of computers around the globe this all takes place on a censorship-proof foundation We make it easy for developers to build those applications

leveraging tools that they are already familiar with. Things like HTML and Javascript to build the interfaces or Go, python or Lisp to build the business logic In short, our mission is to open up the floodgates of decentralized application development We’re currently well into our development process

 

and we’re planning to launch a live version of our network towards the end of this year. Most of the services you use today have one thing in common: they’re centralized so, for example, you trust your bank to keep your money safe, to be independently audited, and to be honest. The same is true with Facebook when you upload a picture of your kids

when you push a document to Dropbox or even when you go to your medical practice and provide them with your personal medical information As a developer you need to submit your application to an App Store and risk having it removed for the most far-fetched of reasons History has proven time and time again that this model is flawed but necessary as so-called trustless operations

have so far been both unprofitable and too complex to implement Remember that everything that is centralized makes it easy to attack because it offers a single point of failure like the firewall of a website Applications built on ethereum do not require their users to trust the developers with personal information or funds On ethereum, your personal information stays yours

your funds stay yours, your content stays your content Ethereum is an application programming platform so what can be built on ethereum is only limited by the creativity of their developers That said, such technology has three types of applications that immediately comes to mind The first are individual currencies.

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What is Cryptocurrency & Blockchain?

Our topic today is CryptoCurrency and Blockchain, and we are going to go through

cryptocurrencyHere is a great article and video I found on Youtube that explains what Cryptocurrency and Blockchain is. Enjoy!

the basics of what they are, then look at some of the pros and cons and criticism of Cryptocurrency. Since it is often seen by many as the currency of the future we will also look briefly at what sort of challenges it might face in interplanetary and interstellar economies, where communications lag might make checking someone’s bank account balance a decade long process and where advanced automation might let you make perfect copies or forgeries of almost anything.

On top of that we will also looks at some alternative uses for Blockchain which include some surprises like maybe being able to use it for conducting elections with a maximum of privacy and minimum of fraud. Before we can get into any of that we do need to cover some basics about currency and money in general and define some terms and concepts. I am going to try to keep this as brief and intuitive as possible, so for those of you wanting more detailed looks at certain aspects of it there will be a number of links to more detailed papers in the episode description.

 

Banking is not usually considered an exciting aspect of technology and futurism, but it is a very important one so I will try to make it as interesting as possible. Money begins replacing direct trade of goods, or bartering, when you start having issues with what is called a ‘coincidence of wants’.

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