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Cons Of Ethereum

What Are The Pros And Cons Of Bitcoin Versus Ethereum?

What Are The Pros And Cons Of Bitcoin Versus Ethereum?

Answered Dec 28, 2017 Author has 675 answers and 2.8m answer views Before we look at the pros and cons of Bitcoin vs Ethereum first lets look at how both of these cryptocurrencies are unique: Bitcoin is the worlds first decentralised (in-controlled) and international cryptocurrency that can be bought and used anywhere, since Bitcoin has a limited supply and no more Bitcoin can be issued or created this causes Bitcoins value to grow tremendously. Despite having a limited supply each Bitcoin is divisible like the dollar or pound which still allows it to be used as a currency and not just as a store of value. Bitcoin has implemented technologies like Segregated Witness or SegWit (increases Bitcoins transaction capacity) and plans to implement the Lightning Network which plans to drastically reduces transaction times and fees as well as enable almost instant transactions. Ethereum is a blockchain development platform and its cryptocurrency is called Ether, it allows developers to create decentralised apps (dapps), new cryptocurencies and allows developers to fund raise through the use of Initial Coin Offerings. Ethereum also enables the use of smart contracts (automated, self executing commands) which could possibly change our financial landscape. Ethereum will be getting its own version of the Lightning Network called the Raiden Network (Raiden is the God of Thunder in Japanese mythology by the way, this should explain the reference to the Lightning Network). Now for the pros and cons of each cryptocurrency: More widely known and accepted than Ethereum First mover advantage due to being the first ever cryptocurrency When implemented the Lightning Network will drastically reduce fees and transaction times The Lightning Network will enable almost instant transactions Transa Continue reading >>

Pros And Cons Of Ripple; Huge Ambitions And Risks

Pros And Cons Of Ripple; Huge Ambitions And Risks

Pros and Cons of Ripple; Huge Ambitions and Risks The CEO of Ripple,Brad Garlinghouse has many reasons to feel good, being in a conference in Toronto with money maverick Ben Bernanke and crypto-genius Vitalik Buterin. Yes, Ripple network itself is expanding quickly as it is among few digital currencies that has intrinsic value and has started more and more to be used in real world business, having licenced more than 100 banks and financial institutions to use its blockchain technology.XRP is the only digital asset with a clear use case its the best digital asset for payments. -Ripples Interledger Protocol(ILP) standardize how to instantly settle transactions across different ledgers and networks. ILP can be thought of much like the protocol HTTP used in web address that become a global standard for online information exchange. At last, value can move as quickly around the world through internet just as information does, with a few clicks. -According to Coinmarketcap , XRPnow has a market cap of more than $7,7 Billion, and it is third behind the digital money giants, Bitcoin and Ethereum. -Ripple is the only digital asset specifically designed for financial institutions.Its pricing model is one part software license, one part professional services and one part transaction fees. -The Ripple ecosystem with its huge financial strength used like strategic weapon which enables it to further development of its platform; while engaging the best blockchain experts, hackers, developers, software engineers,and it is constantly evolving, updating; regarding usability, reliability, security and scalability of the XRP Ledger. -SortedDirectories amendment. This new feature is expected to be enabled in early November, but nevertheless it is advisable to upgrade the nodes as soon as po Continue reading >>

What Is Ethereum Classic? Ethereum Vs Ethereum Classic

What Is Ethereum Classic? Ethereum Vs Ethereum Classic

What is Ethereum Classic? Ethereum vs Ethereum Classic Angel Investors, Startups & Blockchain developers... If you have been involved with cryptocurrency , then there is no way that you dont have an opinion on this. The battle between Ethereum and Ethereum Classic is both an ethical and ideological one. Before we start explaining the basic difference between the two and drawing our own conclusions, it is important for us to know a little bit of history. A lot of things needed to happen for us to arrive in this conjecture. So, lets dial back the clocks and check out some of the most critical points in not just Ethereum history, but cryptocurrency in general. The entire ecosystem of Ethereum works on the basis of smart contracts. For the uninitiated, smart contracts are basically how things get done in the Ethereum eco-system. To put it in layman terms, smart contracts are automated contracts that enforce and facilitate the terms of the contract itself. The DAO aka the Decentralized Autonomous Organization was a complex smart contract which was going to revolutionize Ethereum forever. It was basically going to be a decentralized venture capital fund which was going to fund all future DAPPS made in the eco-system. The way it worked was pretty straightforward. If you wanted to have any say in the direction DAPPS that would get funded, then you would have to buy DAO Tokens for a certain amount of Ether. The DAO tokens were indicators that you are now officially part of the DAO system. So, how were DAPPS going to get approved and built? Well, firstly they need to get whitelisted by the curators, who have basically known figureheads in the Ethereum world. After getting their stamp of approval, they will get voted on by the DAO token holders. If the proposal gets a 20% approva Continue reading >>

Ethereum Wallet Review 2017:the Official Wallet For Eth | Finder.com

Ethereum Wallet Review 2017:the Official Wallet For Eth | Finder.com

The Ethereum Wallet is free to download and use, although it will cost you some time and space on your hard drive to download the blockchain. You will most likely need to pay transaction fees in order to send ether over the network, although there is a flexibility feature built in to give you some control over fees in relation to transaction priority. Digital tokens issued on the Ethereum platform The Ethereum Wallet is found within a larger application called Mist. Mist is a web browser designed to interact with decentralized applications (DApps) running on the Ethereum network. The Ethereum Wallet is one application built into Mist, and youll need to run Mist in order to use the Wallet. Its important to note that Mist is still in beta, and its up to users to stay informed about bug fixes, software updates and other potential issues by checking in with official Ethereum channels. Ethereum is a young project, and many elements of the Ethereum platform are still under development. A lot of the existing infrastructure that enables users to interact with Ethereum is designed primarily for developers and those with a fairly advanced technical skillset. Fortunately, however, the official Ethereum Wallet does come with a simple graphical user interface (GUI) and its not too difficult to get it up and running. Heres how: Before you can add currency, you will need to download the latest version of the Ethereum Wallet. The safest and easiest way to do this is to use the link on the official website . If the download doesnt start automatically, you may be taken to Ethereums GitHub page. Scroll down until you find the appropriate download for your operating system. Once the download has completed, you can launch the Mist application. Youll be prompted to choose between using the Continue reading >>

About Ethereum (eth)

About Ethereum (eth)

OVERVIEW ABOUT TECHNICAL ANALYSIS CHART NEWS (10) FORUM EVENTS (16) Ethereum n n-ur. public, blockchain-based dtrbutd mutng ltfrm featuring smart ntrt (scripting) funtnlt for processing cryptocurrency transactions. It rvd a dntrld Turng-mlt virtual mhn, the Ethereum Virtual Mhn (EVM), whh n xut rt ung n international network f ubl nd. Ethereum run mrt ntrt wrttn in Turng mlt rgrmmng languages such as Sldt. Ethrum l rvd a cryptocurrency token lld Ether, created a t fr programs t run n Ethrum, whh n b trnfrrd between unt and used t compensate participant nd fr muttn performed. "G", n internal trntn rng mhnm, is used to mtgt spam nd llt rur n th network. Ethrum w ntll drbd n a white paper by Vtlk Buterin, a rgrmmr nvlvd wth Bitcoin Mgzn n lt 2013, wth a gl f buldng decentralised ltn. Butrn hd argued that Btn ndd a rtng lngug fr ltn dvlmnt. Flng t gn agreement, he proposed development f a nw platform wth a more gnrl rtng lngug. At the tm of th ubl announcement n January 2014, th r Ethereum team was Vtlk Butrn, Mh Al, Anthn D Ir, nd Chrl Hknn. Frml dvlmnt f th Ethrum software project bgn n rl 2014 through a Swiss mn, Ethrum Swtzrlnd GmbH. Subsequently, a Sw nn-rft foundation, th Ethereum Fundtn (Stftung Ethrum), was also rtd. Lk Bitcoin, Ethrum a dtrbutd ubl blkhn ntwrk. Although there r m significant technical dffrn between th tw, th mt mrtnt dtntn is purpose nd blt. Btn ffr n rtulr ltn f blkhn technology, a r t r electronic h tm tht nbl online Btn mnt. While th Bitcoin blkhn is ud t trk ownership f dgtl urrn (Btn), the Ethrum blockchain fu n runnng th rgrmmng code of n decentralised application. Bfr th rtn f Ethereum, blkhn applications were dgnd t do a vr lmtd t f rtn. Btn and thr cryptocurrencies fr example, were developed xluvl t rt peer-to-peer digital urrn. Dvlr thus Continue reading >>

Why Ethereum Matters

Why Ethereum Matters

Even if youre not a cryptocurrency nerd , youve probably heard of Bitcoin, the digital currency whose price has soared in 2017. But if youre outside of the cryptocurrency crowd, you may not have heard of Ethereum. Its another cryptocurrency that has been secretly growing rapidly in 2017. In fact, its price has increased at a much faster rate than Bitcoin this year roughly 4000% vs. 300% . Its impossible to know how this price trajectory will play out since Ethereums technology is new and largely unproven. It was launched only two years ago in 2015 , and its applications have mainly been at small scale or pilot levels. But Ethereum shows serious promise. Not only are its prices soaring, but its application of blockchains would significantly reduce the need for third-party control in major agreements and transactions. With this underlying technology, Ethereum could completely change the structure of political and economic institutions. Given this level of potential, its likely that Ethereums price growth may have less to do with a quick bubble and more to do with its groundbreaking technological advantages over other cryptocurrencies. To understand what sets Ethereum apart from Bitcoin, you have to know what they share in common both are distributed public blockchain networks , or digital ledgers of transactions. These ledgers work by being shared across a network of computers instead of being stored in a single location, so they cant be corrupted (theres no centralized version of the data to hack) and theyre accessible by anyone on the Internet. Both networks use blockchain technology, but they were created for separate reasons. Bitcoin was designed to be a single application of the blockchain technology a digital cash system to facilitate payments. Ethereum, on the oth Continue reading >>

Ethereum Gambling Pros & Cons

Ethereum Gambling Pros & Cons

Bitcoin was the very first cryptocurrency ever to be created back in 2009. After its success, more started to pop up each with its robust features that made it unique. However, it wasnt up until 2015 that the second most significant cryptocurrency was invented. The name of it? Ethereum. Since Ethereum is growing in gambling due to its security features, we will look at Ethereum gambling pros & cons to better understand if it is the cryptocurrency of the future. Ethereum is a cryptocurrency that was created back in 2015 and is blockchain-based just like most others of its kind are. Its unique feature is that it uses smart contract . The smart contract is a piece of a computer code which is mostly used to either ease, verify, or strengthen the negotiation or performance of said contract. What most people dont know is that Ethereum isnt actually the name of the cryptocurrency but of the whole system which provides a cryptocurrency named Ether (ETH). As opposed to Bitcoin, Ethereum doesnt just function as a store of value; it works more like a World Computer allowing decentralised applications, smart contracts and data storage. When we get asked to answer what are the pros and cons of using Ethereum for online gambling, the next question is always the same Is it better than Bitcoin?. Both of those cryptocurrencies have so little in common yet they are becoming widly used for cryptocurrency gambling . We have already analysed Bitcoin gambling pros & cons , but its time to compare to Ethereum and see which is a better option. Most cryptocurrencies are excellent with keeping your details hidden while gambling online but Ethereum does an exceptionally great job. Not only are you not asked to provide any personal details when signing up on an online gambling platform apart from Continue reading >>

Ethereum Vs. Bitcoin

Ethereum Vs. Bitcoin

The AskMen Acquire team thoroughly researches & reviews the best gear, services and staples for life. Cryptocurrencies are on the rise and are beginning to function just like the US dollar, Swiss Franc, or Japanese Yen but in encrypted digital form. Using cryptography, a system of generating codes to secure information, holders of cryptocurrency can do business transactions digitally, while maintaining privacy and security on a global scale. Right now, there are two majorcryptocurrencies Bitcoin and Ethereum. These two currencies are fighting for dominance in the digital world. Both have their unique advantages and disadvantages. Both have the potential to change how we conduct global commerce and trade. To get a better idea of how they stack up against one another, we took a look at the benefits and flaws of Bitcoin and Ethereum. Bitcoin was launched in 2009 as an alternative to the worlds fiat currency system. It is the worlds first decentralized digital currency. Note: Fiat currency is the popular currency used by the majority of governments. This is a currency with full legal tender, but no physical commodity. Bitcoin is the first of its kind so it has taken the lead as the dominant cryptocurrency. This leadership role has given it an air of legitimacy as the preeminent digital currency of choice, since it has weathered the battles to be accepted, a battle it still fights to this day. Bitcoins launch was exciting and attracted many early-adopters who hoped to cash in on Bitcoin as it blazed new trails into the financial world. As a result, Bitcoin exchanges and trading services began to offer currency exchange, margin trading, data services, and liquidity for Bitcoin holders. As more of these specific financial centers sprung up, Bitcoin became more accepted, and i Continue reading >>

Head To Head: Neo Vs Ethereum

Head To Head: Neo Vs Ethereum

Felix Kster December 16, 2017 2156 no comments In the article about NEO cryptocurrency we shared with you how the price of NEO surged in a crazy rally and in a short span of time (a NEO coin was trading at $1.91 on June 14, 2017, but by August 16, 2017 a price that shot up to $47.58 and over $100 in 2018). While many are calling NEO the Chinese Ethereum, in reality this is only partially accurate. The two blockchains do have similarities, but also several fundamental differences. However, it is important to first understand the similarities between NEO and Ethereum before outlining the key differences between them. NEO vs. Ethereum: What are the Similarities? Both NEO and Ethereum are blockchainprojects specifically designed tohost Dapps , ICOs , and smart contracts in a decentralizedmanner. Both projects are turing complete, open-source, and backed by a big community backing with great and responsive teams. Their respective blockchains are fueled by crypto-assets (Ether in Ethereum and GAS in NEO). In my opinion, these are the only key similarities between these two cryptocurrencies. NEO vs. Ethereum: What are the Differences? Today, there are many altcoins created in the crypto world. However, you will hardly find an Ethereum competitor and/or an alternative. I strongly believe that NEO might be a competitor and an alternative to Ethereum, because they both offer a decentralized solution to their users, allowing them to share anything of value (property deeds, money, confidential data,etc.) privately and securely, without the interference or surveillance of a third party like aprivate business, government institution, and bank. However, the NEO comes with better features its faster, more user-friendly and more secure than Ethereum. Here are the main differences betwe Continue reading >>

Transactions - What Are The Pros And Cons Of Ethereum Balances Vs. Utxos? - Ethereum Stack Exchange

Transactions - What Are The Pros And Cons Of Ethereum Balances Vs. Utxos? - Ethereum Stack Exchange

What are the pros and cons of Ethereum balances vs. UTXOs? Ethereum has a simpler model by not having UTXOs (Unspent Transaction Outputs) like Bitcoin.What does Ethereum "give up" by not having UTXOs, and what does it gain? The answer to this important questions are, sadly, totally slanted towards Ethereum, straight cup & paste coming from the Ethereum documentation. For example with UTXOs there's no need to come up with nonce and whatnots to fix transaction ordering issues: the recent Ledger Nano S SNAFU where many tx were broadcast several times or ppl eventually sending ETH many times instead of once to crowdfund ICOs during blockchain congestion cannot be nearly as bad when UTXOs are used. There are also 0-conf systems that are used with UTXOs that simply aren't as secure with Ethereum (you must wait blocks) Cedric Martin Feb 2 at 18:30 Basically the accepted answer here is of very poor quality and totally lacks objectivity. It's the Ethereum documentation which present the only advantage as "potential scalability paradigms" (notice the "potential"). Re the privacy we all know now that it's incorrect: there are companies whose sole purpose is de-anonymizing UTXOs / the Bitcoin blockchains. I'm sorry but there's much more to UTXOs than "potential scalability paradigms". I gave two examples. There are more (I'm not an expert on the matter but now enough to see that the answers here are totally biased). Cedric Martin Feb 2 at 18:33 +1 and favorite to the question asked. -1 to all the answers (so far). Cedric Martin Feb 2 at 18:33 @CedricMartin I've unaccepted the Jan 22 answer because we do want as much factual and unslanted answers as possible. If you find an expert who can answer, please encourage them. If this question is too broad for an expert, they may post thei Continue reading >>

Pros And Cons Of Building On Ethereum Steemcreated With Sketch.

Pros And Cons Of Building On Ethereum Steemcreated With Sketch.

Recently, I've had 5 potential clients approach me about consulting them, and they all said they didn't know much about the Blockchain industry, although felt strongly that a Blockchain would make their business idea much stronger. They also were under the impression that building on top of Ethereum and assigning their own token using Ethereum's network would be the simplest, most efficient, and best option for them. Unfortunately, there are a lot of things people don't know, or haven't considered, which is why I felt the need to explain my position. PROS to using Ethereum (It's like opening a franchise) Simple, easy, and fast to create an ERC20 token (but you still have to know how to program the token to do what you want). Solid development team that is actively working on new technologies that will continue to improve the stability, security, functionality, and scalability of the Ethereum Blockchain (Casper PoS for example). The development team is currently working on the next token version called ERC223 (and they have said it will be upgradeable from ERC20). You don't need to build, maintain, or develop for your own Blockchain, and can piggy back off Ethereum's. You can save time, money, and effort by syncing your system to Ethereum's Blockchain and letting them manage everything for you. You can launch your ICO faster and get back to business. CONS to using Ethereum (It's like selling your soul to the devil) Ethereum goes down, it will take your smart contracts down with it. If ETH hard forks, it can have unforeseen consequences on your internal tokens, as they can be lost, hacked, or create a split in your service (See Ethereum Classic). You are giving up your autonomy to Ethereum, which means you have no say in the future development plans of the Blockchain you Continue reading >>

Problems Ethereum/wiki Wiki Github

Problems Ethereum/wiki Wiki Github

Anti-spam and anti-sybil attack algorithms Incentivized marketplaces for computational resources Decentralized systems for social welfare / mutual aid / basic income Decentralized governance (for both for-profit and non-profit entities) The increasing prominence of cryptoeconomics in the last five years is to a large extent the result of the growth of cryptocurrencies and digital tokens, and brings a new, and interesting, dimension to cryptography. While before cryptography was, by and large, a purely computational and information-theoretic science, with strong guarantees built on security assumptions that are close to absolute, once money enters the picture the perfect world of mathematics must interact with a much more messy reality of human social structures, economic incentives, partial guarantees and known vulnerabilities that can only be mitigated, and not outright removed. While a cryptographer is used to assumptions of the form "this algorithm is guaranteed to be unbreakable provided that these underlying math problems remain hard", the world of cryptoeconomics must contend with fuzzy empirical factors such as the difficulty of collusion attacks, the relative quantity of altruistic, profit-seeking and anti-altruistic parties, the level of concentration of different kinds of resources, and in some cases even sociocultural circumstances. In traditional applied cryptography, security assumptions tend to look something like this: No one can do more than 279 computational steps Taking nth roots modulo composites is hard The elliptic curve discrete logarithm problem cannot be solved faster than in 2n/2 time In cryptoeconomics, on the other hand, the basic security assumptions that we depend on are, alongside the cryptographic assumptions, roughly the following: No se Continue reading >>

The Pros And Cons Of A Global Bitcoin Bubble

The Pros And Cons Of A Global Bitcoin Bubble

What is unique about the bitcoin bubble, and the cryptocurrency craze generally, is that its global. Past bubbles havent been global. Only the Dutch bought tulips during Tulip Mania. The dot-com bubble mainly affected the U.S., and the Japanese stock market bubble of the 1980s mainly impacted Japan. But bitcoin exists in an internet-connected world. The smartphones and broadband connections required for trading exist on every continent. If you are in Zimbabwe, where Bitcoin was recently trading for up to $30,000 , you can transfer your fiat currency to a local app , use it to buy the cryptocurrency, and keep the coin at the trading house. Chinese buyers kept the market going in 2014 and 2015, while Japanese and South Korean buyers have flooded the market this year. If you want to pick up some Satoshi (100 millionths of a bitcoin) from the U.S., you may be competing for it against somebody anywhere in the world. This is what people did with gold in the 18th century. The gold was in the bank. Coins and notes symbolized it in trade. The U.S. didnt go off the gold standard until 1933 , and didnt end convertibility until 1971. Bitcoin at a trading house is the same thing, subject to local laws, if any are applicable. (Heres a great tweet on that to make your day merrier.) While most bitcoin was bought in dollars early in this decade, its holders are now far more distributed. Mrs. Watanabe is a term applied to Japans retail investors. These traders are driving the current boom. They are used to trading forex options, leveraged trades on currency, to get around the ultra-low returns available in their home market. Japan may account for 50% of the currency margin trading, according to Deutsche Bank, and now they have turned their attentions toward bitcoin. Thus, while American Continue reading >>

Ethereum V Bitcoin: The Pros And Cons Of These Two Cryptorivals | Cryptocoin.news

Ethereum V Bitcoin: The Pros And Cons Of These Two Cryptorivals | Cryptocoin.news

Ethereum V Bitcoin: The Pros And Cons Of These Two Cryptorivals By Fernando Sanchez, title image from Pixabay here . The crypto race is on between Bitcoin and its current main rival Ethereum. These blockchain riders trek across a global network, seeking to outrun each other, and become de facto standards in an increasingly challenging environment. But despite some superficial similarities, their paths are quite divergent underneath. While Bitcoin is merely developed to enable peer-to-peer financial transactions, Ethereums array of application-building opportunities easily outdoes its rival. Thus, some questions arise: Is it wise to choose one over another? Or should the industry have to choose at all? Will Bitcoin v Ethereum become the crypto equivalent of the perennial Coke v Pepsi dilemma? Or perhaps these two entities can adapt into a long-standing, uneasy truce, and share the spoils of a global market, until natural selection makes a choice. Whats their respective value proposition? Lets find out the answers to these questions. Bitcoin v Ethereum: The good, the bad, and the smart Bitcoin rose up from the ashes of the scorched financial earth left behind by the 2008 crash. Traditional money went up in smoke, wiping the value and riches of many individuals and organisations overnight. Money burned because it was real, and tangible. So digital currency was born, the next stage in financial evolution. Conceived as a hybrid of technology, digital asset, and money, cryptocurrency uttered its first cry and took a few tentative steps in a chaotic world before rising to prominence. In a way, Bitcoin was the father of cryptocurrency, and though it has aged since, it has done so handsomely. When Bitcoin needed a medium to thrive in, the blockchain was created. The blockchain Continue reading >>

The Best Bitcoin And Ethereum Explainers

The Best Bitcoin And Ethereum Explainers

Bitcoin, the decentralized digital currency dominated by white men , seemed on the verge of disappearing after every scandal, crash, or hack. But eight years later, its not only growing but accelerating, tripling in total value since January to over $45 billion . And its not the only cryptocurrency; competitors include Litecoin, Dogecoin, and Ethereum (a currency that supports smart contracts). Bitcoins high volatility makes it terrible by traditional currency standards, fantastic as a risky investment vehicle, and fascinating as a cultural experiment. Its a dramatic rethinking of how currency can work, and its very complicated and unfamiliar to the common person. Over the years, hundreds of news outlets have tried to explain it, which is lucky because it often takes several explanations to grasp. Here are some of the best, starting with the three most essential guides. How Bitcoin works, in five minutes : A straightforward guide that gets increasingly technical. Just hop off when the ride gets too fast. History of Bitcoin : Timeline of Bitcoins invention, growth, and major hacks. A beginners guide to Ethereum : Describes a newer blockchain with applications outside of digital currency, including automatically executed contracts, identity management, computer usage sharing, DRM, and more. Continue reading >>

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