A few weeks ago, one of the most anticipated projects in the virtual currency was launched. Ethereum marks a milestone in the history of Bitcoin and digital currency, as this project raised over US$10m in funding before a single piece of code was delivered. One year after that fundraising, Ethereum was unveiled to the public, even though there was still a lot of work to be done.
When Ethereum was finally released to the public, quite a few people had high expectations of this platform and the associated digital currency called “Ether.” However, ever since the launch itself, it became clear that it would take quite a bit of tweaking and prodding to get Ethereum running on most computers. Quite a shame for a project that raised millions of USD in investment capital, yet failed to deliver a user-friendly piece of technology.
Paul Buitink, Professor at the Department of Economics at the Universidad San Francisco, Quito, Ecuador and marketing manager for the Dutch Clevercoin exchange, strongly feels that the government should not be involved when it comes to creating money. In fact, Mr. Buitink also believes that we should not try to keep the current monetary system in tact either.
Flaws in the current Monetary System.
The Ethereum team is planning something very interesting, as earlier today an announcement was made in regards to EtherEx, an open source decentralized exchange built on Ethereum. On the current placeholder webpage, we can also find the interesting slogan of ‘A decentralized future calls for a decentralized exchange”.
It is an interesting time period to announce the upcoming launch of EtherEx, especially considering the Bitstamp debacle which is still echoing throughout the world of cryptocurrency as we speak. On the other hand, now is a very opportune time to bring positive attention to the theme of “crypto exchanges”, and hopefully, EtherEx will be able to do just that.
When we were attending the CoinSummit conference in London earlier this year, one of the projects catching our attention was SpaceBIT. As we attended the SpaceBIT after party on CoinSummit day 2, we learned a bit more about the project, but a lot of details were still being kept under wraps. Today, we can tell you more about this company.
SpaceBIT is the first decentralized space technology company, focussed on a new ecosystem which allows both individuals and small enterprises to take advantage of giant leaps in efficient launch technologies and new satellite platforms.
BitHalo gets a mention when asked who knows something about smart contracts.
Contracts between parties which are executed automatically are called smart contracts, as the computer decides which party receives the money agreed upon in this contract. While this has its advantages over more traditional means, there are some aspects which can not be executed through smart contracts (yet?).
Disruptive technology has its own parameters. New technology doesn’t have to be better in every single aspect to improve the old technology. New technology usually improves on one front, while it could be worse in other parts.
Cryptocurrency succeeds when people use an application (which is running on crypto in the back end) because it is usable, not because it looks good. The perception of cryptocurrency is still that you can’t use it for too many things.
The idea is to bring transaction fees down to as close as 0 as possible, which is where microtransactions would come in. By not having every full node processing every single transactions, we could reduce transaction fees significantly.
Sidechains and hypercube chains are interesting ideas, but not an actual solution to this problem. There is a more modest approach, by solving more restricted problems.
For this article, I want to share with you my thoughts on attending Inside Bitcoins in London. Even though I will post more in-depth articles regarding panels and people we met over the coming weeks, I do feel it’s important to give our readers a general impression of what it’s like to attend such an amazing event.
Both Serge and myself headed out to London on Sunday, even though the Inside Bitcoins London conference took place on Monday and Tuesday. Not only because we really enjoy being in London, which has a soft spot in both of our hearts, but also to be mentally prepared for the event itself. Plus, attending these kinds of events should also include one or two additional days of relaxation and sightseeing.
The first global conference dedicated to cryptocurrency mining, called Hashers United,
is taking place 10-11th October 2014, at Tuscany Hotel and Casino in Las Vegas. The
conference will bring together professionals, hobbyists and vendors from within
mining and throughout the wider cryptocurrency sector. Attendees can expect over 35
workshops and sessions, and more than 25 speakers, including Jordan Modell, (CEO,
Internet Archive Federal Credit Union), Vitalik Buterin (founder Ethereum) and Charlie Lee (creator Litecoin), specially selected for their expertise and commitment to mining and cryptocurrencies.
Whether it is Bitcoin, Litecoin or any other altcoin, at the core of a cryptocurrency are the