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.
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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.
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ETH hangout like there is sale.
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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.
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100%
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i agree with you
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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!
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Wow, those are great thoughts on the subject of Bancor and BNT.
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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.
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What will die earlier: Bitcoin or Ether?
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Neither one. Fiat might die as we're in an everything bubble
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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.
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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 :-)
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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.
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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 .
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anyone recommend Reddcoin ? i hear alot of good things about it ...
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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.
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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.
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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.
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Totally agree
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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.
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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 😉
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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.
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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.
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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 .
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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.
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I agree, however, have you heard of NEO (Antshares)?
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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
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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.
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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://briandcolwell.com/2017/06/ethereum-delirium-the-big-list-of-things-you-should-know/.html
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Did the OP steal this content from that site?
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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.
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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!
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Check out Status a mobile Dapp that runs on the ethereum block chain making it easier to buy/trade cryptocurrencies
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Great article, thanks for the information.
And nice returns of almost 705 $ for 8 votes.
keep up the good writing @dafahd
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thank you
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I don't think ethereum will go down I think ethereum will reach 1000$ by the end of the year
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yes i agrree
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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...
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hi i m not robot and i just up voted cos i don care i like the post :)
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thxx
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I CANNOT wait for ethereum to hit $1000 a coin
im thinking of actually having a party when this happens
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Haha, give it time. Having already climbed so high we need to let it breath a bit. But I'm confident it'll get there and go even higher.
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Hi Dafad ! I wrote something it
s not about ethereum but its bit ralated, take a look on my article about governments and blockchain in clash this is my first serious article on steemit I`ve put in it a lot of work:https://steemit.com/bitcoin/@bolgan/blockchain-vs-governments-my-prediction
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thanks for sharing. follow and upvote me
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Ever since ethereum started trading with its own market, I have always believed about the theory of "before facebook there was myspace" so I'm not saying that ethereum necessarily is myspace in this situation right now but never say never. Diluting all investments and always on watch but I love ethereum. Mainly for the diversion of market that it offers as compared to bitcoin. Although without bitcoin, ethereum probably would have taken way longer to be found. Love the wordplay you got going on the header too! Always just dropping some thought into posts. This time around, reassurance I guess? Cheers!
#follow4follow
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We will see more coins that will just grow quickly because the market conditions are right and there is some killer aspect to it. I'm sure we'll have an ETH contender sooner rather than later. But that's the great thing about the space. 7 months ago no one was even talking about ETH, except those who had been standing by it for so long. No one would have thought it could come so close to dethroning Bitcoin this quickly either.
Looking forward to seeing the new contenders come up to challenge the giants. Competition is grand.
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Take a look at the ICO's under ETHEREUM! I mean I just dived in and all I can say is, POTENTIAL.
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The ETH contender likely won't be on ETHEREUM haha. But, yeah the ICO space is pretty crazy right now. I'm very cautious myself because it just smells of the IPO disaster during the dotcom era. Just be careful out there please!
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Yeah man, it's all a risk. Let's keep each other afloat !
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Just exchanged my last ETH for BTC at 0.1205. I'm 100% out of ETH, first time since presale. Honestly, I feel naked after doing this, but I've got to go with my instinct on this one. I know relative to fiat, if ETH crashes, BTC will get slammed too, but I don't think the damages will be as bad.
Good luck to the holders, I wish you luck, and I hope you can reciprocate those wished back on me, even if they are at odds. I'll be back in again in the future, and maybe I'll be buying your ETH at 1000, but I just can't go against what I'm seeing in every aspect of analysis.
Cheers,
kozak
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dafahd good post
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thank you
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Yeah, compared to Ethereum, Bitcoin got too many flaws. Bitcoin was an outstanding invention back in 2010 but everything has it's limit and you have to always be willing to step ahead to bew horizons. Price inevitably gonna grow because people mine this coin and the reserve of them ain't over yet. IMHO, it's too late to invest if you ain't a millionaire already and you can bust $20000-30000, it's a way better decision to mine them.
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I don't think you can really compare ETH and BTC. They're more Apples to Oranges. BTC is a currency and built to be that. Simpler code behind it to keep it as a store of value. ETH is a platform built to do so much more, but it also means it can have many more flaws to. If you're just looking at price, it's too early to tell what will scale faster.
As for being too late to get in? I totally disagree. We're just 9 years into the space, into the genesis of something so new. We're at the launching pad to a rocket ship that's just taking off. So right now is really the best time to get on board if you believe in the space and can see the multiplier effect come into play as the space grows over the coming years from $100B to Trillions.
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Blank.
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I absolutely agree there. These are seriously early days. This transition process can be compared to the early days of the dotcom boom, or even further back if you want to think about just currency, it's akin to when people moved from the barter system to using actual coins to represent a store of value that could be traded. Why?
Today we, in a sense, barter between currencies. If I want to buy a gigantic Mech from Japan and I live in the U.S. I have to first BUY Japanese Yen with USD. And only then can I purchase that awesome, futuristic mech from Japan :) That process Costs me (1) Time to find the best price for Yen or (2) Money if I'm in a rush to purchase since I will be buying Yen at market rates. Once that process is over and I have my Yen then I can buy the mech. This is inefficiency in our system.
And that is where cryptocurrency just disrupts everything! With cryptocurrency I can buy that Mech no matter where I am in the world, quickly and efficiently without any real added costs IF we are all on the same currency system of Bitcoin, Dash, or what have you. It flattens the world even further and makes us closer to being ONE community.
Ironically currency is what may actually bring us closer together, forcing government bodies to rethink boundaries because we, the people, are forcing ourselves to have closer ties. It's pretty exciting what this space means
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ETHEREUM, why u no go up ლ(ಠ益ಠლ)
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good article, thanks for sharing. Upvoted
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🔷👍
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Great article @dafahd
The application for Ethereum is much greater than for Bitcoin. The smart contracts capability is among the most sought after features of the entire blockchain industry since it will have a direct impact on pretty much every aspect of our lives. 🤠
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What worries me a bit on Ethereum is the GAS price. EOS might cover this better in the future. What do you think about this @dafahd ?
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Great article, thanks for share @dafahd
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Nice post! Well written
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Very interesting, Thanks for sharing
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Have to say, the way I look at is is the difference between Yahoo and Google. One was first but the other really understood how to use the technology.
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They say that one day Ethereum will surpass bitcoin because of its DAAPs ability. These decentralized applications will be in really high demand and this will make ETH price rise exponentially. No one knows for certain how this will unfold. The future is gonna be exciting. Thanks for sharing
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Great article, I share this perspective as well for Ethereum. I believe Litecoin may also be on the coat tail as Bitcon's little brother. I guess anything in its infancy has its stages, as Bitcoin has and all to follow have their stages as well. Good luck to everyone! Keep stackin! Keep the articles coming too!
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Ethereum can basically be used for anything right? Given the Turing completeness of its language.
I imagine some streaming services in the future charging per episode or per hour of content watched built atop of block chain technology.
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I am sure that ethereum has a very big future! It is amazing that it's not only a currency but also a great platform for developers.
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Beuatyfull place
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Ethereum might be as to smart contracts as fiat is to Bitcoin. It does have a great community and momentum but can it evolve is the question. I think it can but there is definitely serious competition.
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I'm new to the crypto world so it's nice to see posts like this one, helps me with mental organization of what's what. Thanks!
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The problem with Ethereum sceptics – like myself – is the binary view on it.
Either Bitcoin will win or Ethereum.
Of course, we might be wrong in the binary view (which is another binary view…lol), but with most disruptive and decentralized applications there are a host of opinions but little concrete substance.
At the end only time will tell.
Am I excited about Ethereum?
Hell yeah.
Do I understand it in full?
Not yet….
Am I investing?
Yes, but controlled.
Have a great weekend…
PW
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thxx
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We all are in the digital currencies network , thanks to the community!
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Let's make a bet....
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Ethereum will hit all-time highs in the next month
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I have just invested a little in ETH. Lots to think about here. thx
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thx to you
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