Ethereum forum

Discussieer en deel informatie over blockchain, bitcoin wallet, koers van de Bitcoin, Ethereum, etc.

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Re: Ethereum forum

Bericht door neku » 10 sep 2018 10:43

The aim of education is the knowledge, not of facts, but of values!



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Re: Ethereum forum

Bericht door Beheerder » 10 sep 2018 21:00

De koers van Ethereum staat inmiddels weer onder de grens van $190:
Dmv2jiXVAAgXusN.jpg
U kunt zich hier registreren om de bijlage te zien.
Disclaimer: berichten geplaatst met dit account zijn geen beleggingsadviezen.

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Re: Ethereum forum

Bericht door neku » 12 sep 2018 16:16

Ethereum’s Upcoming $29 Billion Hard Fork

I would like to talk to you about Ethereum’s upcoming $29 billion hard fork, which could be happening as soon as October 2018.

So I’m really addressing 3 groups of people today:

-Crypto Enthusiasts who just love to keep up with current events, you guys are not really at any risk from this news
-Investors and speculators in the Ethereum tokens, you guys may want to know this stuff because it increases the risk to you financially, and
-Businesses who are developing or using the Ethereum network, you guys may very well be aware of this situation, but also need to pay attention because of the increased risk to your business until this situation resolves itself

If you don’t fall into any one of these three categories then just stare at my handsome face for the duration of the video and see if you can derive any value from today’s content.

Episode Transcript & Notes

Ethereum’s $29 Billion Hard Fork In October

https://www.coindesk.com/ethereums-octo ... -test-yet/

Sometime in October or November 2018, Ethereum will hard fork to install a set of upgrades known as Constantinople.

This upgrade has been on Ethereum’s roadmap for a while so the majority of the community are well aware that it’s coming.

However, it brings up one of our old favourite topics that applies across the board in the world of crypto, the topic of governance, which is the process of making collective decisions among all the human participants.

Something that is scaring a lot of people about Ethereum is this thing called the difficulty bomb.

Now this isn’t a bug or anything, it’s something the Ethereum developers put in there as an incentive, or rather a way to force miners to move from proof of work to proof of stake.

Once the difficulty bomb explodes, the mining difficulty will suddenly become so high that it’ll mean no amount of mining power would be able to create an Ethereum block without years of proof of work mining.

Since Ethereum relies on blocks being mined every 15 seconds or so, having to wait years for just 1 block makes the network completely unusable… unless everyone starts creating blocks by proof of stake.

So the difficulty bomb makes sure that there remains just one Ethereum network after proof of stake activates, since the proof of work version of the chain has ground to a halt.

Now we’ve known about the difficulty bomb for a while but as time passes it creeps ever nearer. We’re expecting the bomb go off sometime in early 2019 according to CoinDesk. It depends when we reach a certain block number.

The upgrade to Ethereum that converts it to proof of stake is known asCASPER, which absolutely must be ready to take over after the difficulty bomb goes off or the Ethereum chain will just stop dead.

The problem is that Casper is not going to be ready before the difficulty bomb goes off by the looks of things.

I say that because of what I read here on EtherChain.org (EtherChain)…

https://www.etherchain.org/coinvote/pol ... losed=true

The other complication is that inflation is tied to block production.

Meaning every time an Ethereum block is mined, new Ethereum is created to reward the miner.

The higher the difficulty, the slower the blocks. The slower the blocks the slower the rate of inflation and miner reward.

There’s also segment of the Ethereum community who want to reduce Ethereum’s inflation rate, that’s what the poll on EtherChain is dealing with.

Lower inflation means less money paid to miners when they mine a block.

Lower mining rewards makes mining less profitable, leading to miners potentially dropping out, thus making a mining attack on the Ethereum network require fewer resources.

That’s what people mean when they say fewer miners means the network will be “less secure”.
Here’s a quote:

“Fun fact! In the past 365 days, the ethereum network has paid $6.6 [billion] to miners,” that’s from a trader named Eric Conner.

I guess one segment of the Ethereum community think that’s too much and think the reward per block should go down from 3 to 2, or even down to 1 Ether per block.

Another thing compounding the problem is the significant fall in the Ethereum price lately.

If we look at Ethereum’s price measured in USD:

https://uk.tradingview.com/chart/9Ly0ynVv/

We see it’s now a good $75 below it’s April lows, and trading close to it’s 2018 lows which are prices not seen since September 2017.

So that’s another force that’s having a negative impact on Ethereum miners profits. Ethereum miners are not having a good time right now and are probably worried about the future of their businesses.

So what goes the almighty creator of Ethereum Vitalik Buterin think?

Well in a comment posted on GitHub in response to EIP 1295…

https://github.com/ethereum/EIPs/pull/1 ... -416324636

So to me that means if profit margins for miners shrink, only the biggest, most efficient mining operations will be able to sustain themselves.

The smaller miners go out of business and the Ethereum network becomes more centralised.

So I’m sorry I don’t have any hard conclusion for you on this because it’s all very much still up in the air.

While much of this may seem like technical detail, it’s important to be aware of because if you are speculating on Ethereum’s price there’s a risk to you financially, and if you’re building your business on Ethereum there’s an increased risk to your business.

How you respond to this situation comes down to your risk tolerance.

I can’t give any advice to you as an individual because I don’t know your circumstances and am not qualified to give financial advice anyway.

On a principle level though, the standard way to respond to an increase in risk is to reduce your exposure to that risk.

That means selling a portion of your Ether holdings until everything settles down, if you wanted to reduce your risk.

Or buying Ether if you want to increase your risk exposure with the intention of gaining a higher reward.

That choice I leave to you and your financial advisor.

https://medium.com/the-cryptoverse/ethe ... c1c6bf4c19
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Re: Ethereum forum

Bericht door neku » 12 sep 2018 22:48

“Massive Ethereum[ETH] dump is coming in the future”, says Li Xi, partner at H.Capital

Troubles aren’t over for Ethereum warns Li Xi, a partner at Singapore based investment firm H.Capital. Li warns of a massive Ethereum dump in the near future. Li Xi made the statement in the first-ever BiBox global meetup conducted on 8th September in Singapore. The meetup was attended by 300 people.

According to Li Xi, there are 3 indicators that confirm the fact that a major Ethereum dump is imminent. Firstly, more than 20,000 ETH is being generated through mining daily compared with the limited size of Bitcoin. Secondly, ICOs (Initial Coin Offerings) are getting out of trend fast, which was one of the biggest reason for Ethereum’s price to increase. Thirdly, more than 50% of ETH raised through ICOs haven’t been sold off yet.

Li Xi cautioned,

“Bitcoin price is still very strong compared to ETH which has dropped 80% from its all-time high.Firstly, every day, there are 20,000 ETH created, as opposed to limited supply like BTC. Secondly, the ICO fever has subsided. Thirdly, more than 50% of ETH raised in ICOs have not been sold into fiat yet. In the future, we may see a massive dump.”

Ethereum price decline

Ethereum price has been constantly declining since May 2018. One of the major reason for such a decline is ICOs. ICOs raised millions of dollars in Ethereum, pushing the price of Ethereum up. But as ICOs have started to loose there appeal to investors, Ethereum now has started to show a downtrend. Major ICO projects have decided to convert their remaining Ethereum to fiat.

https://blockmanity.com/news/ethereum/m ... h-capital/
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Re: Ethereum forum

Bericht door neku » 13 sep 2018 10:41

Ethereum WILL rise again - the 3 keys to the comeback...

Crypto prices may be reaching yearly lows, but news in blockchain tech couldn’t be more positive. Large financial firms like Citi are offering new investment options. An ETF may actually get SEC approval. Gemini unveiled a new stable coin. And we’ve seen more growth in crypto industry than ever before. To drive this point home, let’s look at the new roadmap for Ethereum 2.0, according to the announcement released this week.

1) Beacon chain client - a new sidechain that will link to the mainchain to allow improved scalability. 7 different development teams are researching this new process. Each team is focused on a different coding language.

2) Aggregate signatures - a method of limiting the bottleneck of on-chain transactions. eWASM - a replacement for the Ethereum Virtual Machine (EVM). Ethereum will likely use what is called a “delayed execution model”. Delaying smart contract execution in theory would mean that shards are responsible for transactions and storing data only. Smart contracts would be transacted in 2nd layer solutions. eWASM will increase transaction throughput.

3) Rocket Pool - the new version of Proof of Stake which works with Casper, Ethereum’s consensus algorithm.

This detailed info is from Darren Langley, senior developer with Rocket Pool. According to Langley, scalability and new design will be the main features of the next generation of Ethereum.

So while the price of Ethereum my fall to sub-$100 levels, don’t be fooled into thinking this is the end of the worlds 2nd largest blockchain.

http://www.globalcryptopress.com/2018/0 ... ys-to.html
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Re: Ethereum forum

Bericht door neku » 14 sep 2018 14:07

Ethereum might just be one step closer to sharding its blockchain.

At least that's according to long-time blockchain researcher Vlad Zamfir, who claims to have coded up a successful proof-of-concept of the idea at the ethereum hackathon EthBerlin this week. Built with the help of several other developers, including Tim Beiko and John Marlin, the code is said to demonstrate how different ethereum shards may be able to someday communicate on the blockchain.

Stepping back, sharding is an experimental scaling solution touted as a way to alleviate the strain of a growing network by breaking the blockchain up into smaller units, called shards.

While many ethereum developers, including ethereum creator Vitalik Buterin, are working toward making sharing a part of ethereum's roadmap, it's still a work in progress (estimated to be released not for another two years).

Speaking to CoinDesk, Zamfir affirmed the proof-of-concept is "not even close" to production-ready, but nonetheless he believes it contains code that will be fundamental to its deployment on ethereum.

"It's really a proof-of-concept of the most core component in my sharding roadmap," Zamfir said. "It prevents the cross-shard atomicity failure, or more specifically, it prevents finalization of cross-shard atomicity failure, so it will never be that a 'send' is finalized and a 'not received' is finalized."

That likely sounds quite technical, and it is, but put simply, Zamfir and the other developers were able to show how ethereum's native cryptocurrency, ETH, and other messages can be sent securely across a sharded blockchain.

Available on open-source code repository Github, the proof-of-concept comes with a visualizer that allows users to download and stimulate the codebase. Although the current proof-of-work isn't completely finalized, he said.

Zamfir continued:

"We're still working on the integration but check back in a week and it should be something where we have instructions and you can follow the instructions and get it running on your computer."

For educational purposes only

While the proof-of-concept was finally written in code at the hackathon, according to Zamfir, much of it had already been developed prior.

"The specifcation was pretty much already 100 percent done, for the most part. I didn't have to do any research at the hackathon, I was just implementing stuff," he told CoinDesk.

The reason for implementing the codebase, Zamfir said, is largely educational.

"There's a lot of people who can't look at research, especially when we don't have research published in the way that we're really happy with. And so seeing software is something that some people find compelling," he said.

Beyond that, though, he continued, the proof-of-concept has "almost no significance," since it didn't look to uncover any new terrain or solve any known problems. What it's missing includes a system for transaction fees and a way to route transactions and messages from one shard to another.

"We have no real routing protocol," Zamfir said, summarizing:

"All it is doing is demonstrating the cross-shard message passing in the way that it works with the fork choice rule."

The technicals of sharding

What Zamfir is referring to when he says "fork choice rule" is the code for how ethereum shards interact with the main blockchain. This code was released in a proof-of-concept by Buterin in May.

Still, while Zamfir's proof-of-concept builds on the broader body of ideas out there around sharding, it is also built to work alongside his "correct-by-construction" research, which includes rules by which blockchains should come to consensus about transaction histories.

"For me, it's all trying to use the correct-by-construction methodology and all of my sharding stuff is very much squarely within that framework," he told CoinDesk.

And with this focus, Zamfir's sharding roadmap deviates slightly from the mainstream ethereum sharding roadmap, fulfilling "different design criteria," he said.

While it's still rooted in the same problems — trying to come up with ways to solve ethereum's scaling hurdles, as well as finalizing the upcoming switch to a more egalitarian way to secure blockchains, named proof-of-stake – Zamfir has a different design focus to others looking at sharding.

"I consider the core of sharding to be a cross-shard message or a cross-shard consistency problem," Zamfir told CoinDesk. "Vitalik thinks of it as sharding of availability, validity and execution of the state. I have a different perspective than Vitalik does of consensus protocols and therefore also sharding."

He continued:

"I'm just focusing on what I think are the hardest problems first."

https://www.coindesk.com/ethereums-asic ... ig-miners/
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Re: Ethereum forum

Bericht door neku » 14 sep 2018 14:08

Ethereum's ASIC Rebellion Heats Up With New Effort to Brick Big Miners

"When mining ether won't pay for power anymore, what will you do?"

The question – posed on an ethereum forum Thursday – is emblematic of a growing anxiety among the miners who today dedicate both computing power and machinery to securing the world's second-largest cryptocurrency.

Grappling with the emergence of ethereum ASICs, or specialized mining hardware built to maximize the software's rewards, the forum features no shortage of miners stating their intention to move their kits to other cryptocurrencies.

"What is the ether value when all the miners quit?" another post asks.

The statements come in advance of an ethereum software upgrade scheduled for October. Dubbed Constantinople, the change, to be conducted via a hard fork, is set to reduce the amount of coins paid out to miners from 3 ETH to 2 ETH per block, as currently coded by developers.

While that won't necessarily break the bank of miners, the changes could add up quick. According to figures from Etherscan, about 6,000 blocks are currently found per day, with about 17,000 ETH (roughly $3.4 million) being paid out to miners by the protocol.

Yet, should ASICs become a more popular tool for mining ether, smaller hobbyist miners could be even more hard-hit by the proposed adjustment. As such, signs suggest ethereum miners are beginning to back a code change that would prevent ASICs from dominating the platform.

Bolstering the movement, according to several sources, is the belief that the proposed issuance reduction won't impact all miners equally. Rather, some think it's likely to concentrate mining power in a small number of pools with access to cheap electricity and with the resources necessary to purchase ASICs.

"This community of small miners, hundreds of thousands, is now faced with the economic reality that selling their used hardware may be a better outcome than continuing to participate in ETH," Brian Venturo, CEO of mining company Atlantic Crypto, told CoinDesk.

Believing that the presence of small miners is necessary for the decentralization and security of the network, proponents of GPUs — a general purpose hardware that is easier to access than ASICs — are advocating a code change that would remove competing hardware from the platform.

"The entire foundation of ethereum is decentralization, that's the foundation of it, that's the theme," hardware supplier and leading developer behind the code change, Kristy-Leigh Minehan, told CoinDesk.

She continued:

"The only kind of hardware that's naturally decentralized, and that means that it's available in mass quantities to multiple individuals that aren't inherently involved in cryptocurrency, that don't have financial motivation, that's a GPU card."

Preparing for battle

Minehan, then, is prepping the code changes for its possible inclusion into Constantinople, currently scheduled for October.

"The goal is to staff up and have people working on that full time," Minehan said.

In her effort to block ASICs, Minehan joins several major cryptocurrencies — most notably, privacy-centric cryptocurrency monero — in what has been termed "crypto's war on miners."

A grassroots movement started back in January, the trend can be linked to several batches of specialized hardware developed, mainly by the China-based mining giant Bitmain, for cryptocurrencies that were previously only mineable with GPUs.

But Minehan not only believes the type of code change she's advocating for will remove ASICs from taking over ethereum, she also thinks it will lead to performance gains for GPU miners as well.

That's because, built on an algorithm named ProgPoW, the code is designed to maximize on the characteristics of GPU hardware, using 80 percent of the overall graphics card toward computing the algorithm, instead of the 10 to 20 percent that is typical of cryptocurrency mining.

Because of this, Minehan said that if a hardware designer tried to build out a ProgPoW ASIC — which is to say a specialized chip with the sole function of computing ProgPoW — it would just end up resembling GPU hardware.

"One of the really cool features of ProgPoW is if you were going to implement this centralized hardware, an ASIC, then you would end up just mimicking a GPU card," Minehan told CoinDesk.

In this way, Minehan said that the algorithm draws a lot on Ethash, ethereum's current mining algorithm. While Ethash was built to resist ASIC hardware, by adding in a dataset, named a DAG, which increases incrementally over periods of time, it seems manufacturers have gotten around that barrier.

Distinct from Ethash, ProgPoW forces changes to the algorithm itself every epoch, meaning that "it's impossible to have fixed function hardware," Minehan said.

Minehan, then, calls it an "extension of ethereum" that has been built especially with GPUs in mind.

She told CoinDesk, "That's inherently what PropPoW is, it is a lesson in how to make algorithms tailored to hardware."
Two kinds of hardware

In interview, Minehan was adamant of the importance of general purpose hardware for the health of the ethereum network.

"I don't think the ethereum developers realize just how, pardon my language, but how fucked they are, when the new generation of ethereum ASICs publically gets to the market," she said.

In her mind, that's because, while the current ethereum ASIC isn't a huge improvement on the GPUs used today — aside from being slightly more efficient when it comes to electricity usage — rapid improvements in hardware means that GPU and ASICs will become increasingly polarized.

According to Minehan, the problem with this isn't just that, it's also that ASICs by nature are bound to a specific algorithm, and as such, can effectively lock miners into securing on particular protocol.

She explained:

"When you're locked into one coin it causes a lot of competitive behavior, a lot of dangerous behavior."

That's because, while the primary market for GPUs is the gaming industry, there's no other use for custom-built ASICs other than mining crypto. This means that ASIC manufacturers and miners are more directly incentivized to protect their investments — even if it means interfering with the direction of the network.

This is especially concerning given that ethereum is planning to switch its mining process to a technology called proof-of-stake, which will do away with the need for mining hardware entirely, Minehan contended.

"We believe proof-of-stake is the natural progression of ethereum, and we want proof-of-stake to be out there, but the network will be incredibly vulnerable if only ASICs are allowed to play," she said.

ASIC manufacturers, she continued, are "naturally incentivized to keep ethereum on proof-of-work," so much so that it might mean splitting ethereum when it comes time to make the switch.

"They will do everything in their power to keep it on proof-of-work which includes maintaining a large portion of the network hashrate," she concluded.

Not in Constantinople

The implementation of ASIC-resistant code is being heralded by developers as a "reasonable compromise" for GPU miners on the network. As such, developers are taking time to investigate ProgPoW for its potential inclusion into ethereum's codebase.

Speaking to CoinDesk, communication officer for the Ethereum Foundation, Hudson Jameson, confirmed that he's been working to gain an understanding of the viability of ProgPoW implementation.

Jameson has been in contact with some of ProgPoW's stated reviewers, including GPU manufacturers AMD and Nvidia.

"Once I'm done doing that I will work with some people from the community and experts in ProgPoW to continue to assess it's viability as a replacement for Ethash," Jameson told CoinDesk. "ProgPoW will certainly be discussed in upcoming core developers' calls as we continue to assess it."

Yet, it's still unclear whether there's sufficient support to implement such a change.

For example, arguments exist that the increased hashrate that comes from ASIC hardware is actually a positive for network security. Others warn that ProgPoW might have unexpected impacts — like damaging the investments of miners who had optimized their GPU cards for mining Ethash.

Aside from that, developers are adamant that the change cannot be included in Constantinople. Alluding to this, Afri Schoedon, the communications officer for ethereum client provider Parity Technologies, told CoinDesk that an ASIC effort "will not happen" in the upcoming hard fork.

"Constantinople is final," Schoedon told CoinDesk.

Jameson echoed this, telling CoinDesk, "There is no way ProgPoW can go into Constantinople," but rather that it has the possibility of being included in the following hard fork (nicknamed Istanbul), currently planned for eight months after Constantinople.

The delay might be disheartening to the many miners calling for ASIC-resistant code. With rapidly diminishing returns, there's a chance that the GPU mining community will have moved to new cryptocurrencies by the time Istanbul comes around.

But regardless, Minehan and her team are still optimistic.

She said:

"I just want to have it all done and finished and then just point to it and say look guys it's done, it's ready, adopt it if you want it, don't adopt it if you don't, I don't really care, but don't say it's not ready to be implemented because it's finished."

https://www.coindesk.com/ethereums-asic ... ig-miners/
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Re: Ethereum forum

Bericht door neku » 14 sep 2018 14:15

ICOs Sold 160,000 Ethereum Over the Past 10 Days

In the past 10 days, Initial Coin Offering (ICO) projects have sold three times more Ethereum (ETH) than they did in August, according to research by TrustNodes published September 13.

The 160,000 Ethereum tokens sold over the past few days amount to $33 million, according to the price index at press time. Per TrustNodes, ICO projects sold 82,000 ETH on September 4, which was followed by a sharp decline in crypto markets.

Average daily ETH sales from ICOs varied from 1,000 to 5,000 coins in August, with occasional sales around 10,000 ETH. In contrast, the same amount of 10,000 ETH became a far more common daily sales volume in September.

According to TrustNodes, the total amount of Ethereum sold by ICOs over the past 30 days now amounts to 283,000 ETH, which is almost $60 million at press time.

Citing crypto data provider Santiment, TrustNodes states that the highest share of ETH sales from ICOs is attributable to the Digix ICO project. Digix’s paper value Ethereum holdings amounted to $150,000 million, which is significantly higher than the current total market capitalization of DigixDAO coin, which is $69 million at press time, according to Coinmarketcap.

Earlier this week, Cointelegraph reported that funding for ICOs have seen its hardest decline in 16 months. In August, ICO startups raised $326 million, the smallest amount since May 2017.

Ethereum-based ICOs have been outlined as the main factor for the recent ETH price decline, as some projects withdraw their funds in order to cover costs amid concerns over a bearish market. Today, Ethereum skyrocketed almost 20 percent with an intraday high of $214.18, after plunging below $170 earlier this week, its lowest point in 2018.

Also today, Sonny Singh, the CCO of global crypto payment processor Bitpay, argued that altcoins “will never come back” to their previous levels. Singh said that institutions adding financial products like crypto ETFs will be the main drivers of a bullish trend in the market and they are “not going to launch altcoin products, they’re going to launch Bitcoin products.”

https://cryptonews24x7.net/icos-sold-16 ... t-10-days/
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Re: Ethereum forum

Bericht door neku » 20 sep 2018 09:18

'Ethereum-technologie kan bitcoin halveren'

De cryptocurrency die het ethereum-netwerk ondersteunt, 's werelds meest populaire blockchain voor nieuwe crypto-ondernemingen, kan binnen een termijn van vijf jaar de helft van het marktaandeel van bitcoin wegkapen.

Dat zegt techanalist Ian McLeod van Thomas Crown Art tegen MarketWatch.

Ether is bijna 90% gedaald ten opzichte van de piekwaarde, maar McLeod denkt dat de cryptomunt het dieptepunt heeft bereikt en dat de prijs zal stijgen naarmate het nut van het onveranderlijke grootboek, de ethereum blockchain, groeit.

Bitcoin minder dominant

"We denken niet alleen dat de munt voor het einde van 2018 aanzienlijk zal opveren, maar ook dat het de dominantie van bitcoin in de loop van de tijd aanzienlijk zal verminderen. Ik denk zelfs dat we kunnen verwachten dat bitcoin binnen vijf jaar 50% van zijn marktaandeel in cryptocurrency verliest aan zijn concurrent ethereum", aldus McLeod.

Het is een gewaagde voorspelling gezien de huidige situatie van ether, die in minder dan 12 maanden is gedaald van bijna 1500 dollar tot minder dan 200 dollar. Bovendien is het aantal mensen die gokken op een verdere koersdaling van de op een na grootste digitale valuta begin september gestegen tot een recordniveau.
Opslag van waarde

Volgens de analist van Thomas Crown Art, een kunstagentschap dat de ethereum blockchain gebruikt om zich te beschermen tegen snode activiteiten in de kunstindustrie, biedt ethereum meer dan bitcoin.

"Het heeft ons in staat gesteld een systeem te creëren om kunstwerken te gebruiken als een letterlijke opslag van waarde. Het lost ook authenticiteits- en herkomstproblemen op, essentieel in de wereld van de kunst. Al onze kunstwerken worden met een uniek 'smART'-contract in de blockchain van ethereum opgeslagen", aldus McLeod.

"Tenzij bitcoin nu meer doet om de problemen aan te pakken en de technologie waarop het draait verbetert, kunnen we niet zien hoe het de komende vijf jaar ethereum kan inhalen, wanneer de cryptomarkt nog meer algemeen geaccepteerd zal zijn."
Technologische problemen

De ethereum blockchain kampt zelf ook met technologische problemen. Het netwerk stelt momenteel een wijziging van het protocol voor, van 'proof of work' naar 'proof of stake', waarbij ontwikkelaars hopen dat de congestie op de blockchain zal afnemen en de verwerkingstijden zullen toenemen. De verwerkingstijd bedraagt nu ongeveer 15 transacties per seconde. Dat is iets sneller dan bitcoin, die drie tot vijf transacties per seconde kan verwerken.

Een proof of stake-protocol is waar mijners, of diegenen die transacties willen verifiëren, enkele van hun munten inzetten als ze transacties valideren, wat verschilt van het proof of work-systeem, waarvoor een grotere hoeveelheid rekenkracht is vereist.
'Ethereum ligt lichtjaren voor'

Toch gelooft McLeod dat de technologische problemen waarmee ethereum wordt geconfronteerd niets zijn vergeleken met de problemen waarmee bitcoin in de toekomst zal worden geconfronteerd. "Ethereum ligt al lichtjaren voor op bitcoin in alles behalve de prijs - en deze kloof zal steeds duidelijker worden naarmate meer en meer beleggers in crypto stappen."

https://www.beursduivel.be/Column/28438 ... veren.aspx
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Re: Ethereum forum

Bericht door neku » 23 sep 2018 11:26

Vitalik proposes the use of zk-SNARKs to scale Ethereum

Vitalik Buterin’s latest post on Ethereum Research, outlines an on chain scaling solution, without any additional layers, using zk-SNARKS, the encryption algorithm behind the popular privacy token ZCash. According to Vitalik, by using zk-SNARKS it is possible to scale Ethereum to 500 tx/sec.

In Vitalik’s solution, there will be 2 parties involved in the entire transaction,

-Transactors
-Relayers

Relayers will group multiple transactions into one transaction by creating ZK-SNARK to prove the validity and publishes the ZK-SNARK onto the blockchain. Everything will be managed by a Smart Contract. This way multiple transactions are stored on the blockchain in a highly compressed form.

Actually, what I propose does not have data availability issues. Here's a quick writeup:https://t.co/hRjhSyah0B
Vitalik Non-giver of Ether (@VitalikButerin) September 22, 2018

Relayers would earn money through the group’s transaction fee. According to Vitalik, anyone can become a relayer, as every transaction is happening on the chain.

“There are two classes of user: (i) transactor, and (ii) relayer. A relayer takes a set of operations from transactors, and combines them all into a transaction and makes a ZK-SNARK to prove the validity, and publishes the ZK-SNARK and the transaction data in a highly compressed form to the blockchain. A relayer gets rewarded for this by transaction fees from transactors.”

What is zk-SNARK?

zk-SNARKs are a zero-knowledge proof encryption algorithm. That means after encryption, the data exists but what the data is never revealed. Properties of zk-SNARKs are,

-Completeness: if the statement is true, and the verifier and prover are honest, the proof is accepted.
-Soundness: if the statement is false, a cheating prover cannot convince an honest verifier that it is true, except with some tiny probability.
-Zero-knowledge: if the statement is true, a verifier does not learn anything beyond the fact that the statement is true.
-Succinct: The size of the proof needs to be small enough to be verified in a few milliseconds.
-Non-Interactive: Only one set of information is sent to the verifier for verification, therefore there is no back and forth communication between the prover and verifier.
-ARgument: A computationally soundproof: soundness holds against a prover that leverages polynomial-time, i.e. bounded computation.
-of Knowledge: The proof cannot be constructed without access to the witness (the private input needed to prove the statement).

https://blockmanity.com/news/ethereum/v ... -ethereum/
The aim of education is the knowledge, not of facts, but of values!

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