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Ethereum Launches Cryptocurrency 2.0 Network

Ethereum Launches Cryptocurrency 2.0 Network

Jan 23, 2014 at 11:00 UTC|UpdatedAug 18, 2015 at 15:55 UTC This Saturday, a group of cryptocurrency advocates will unveil a new system that they hope will rewrite the rules of cryptocurrency. Officially titled Ethereum , creators are calling it "Cryptocurrency 2.0". It's a decentralized mining network and software development platform rolled into one, and it will allow people to create their own altcoins, among other things. The project, which will be unveiled at the North American Bitcoin Conference , is the brainchild of Vitalik Buterin, co-founder of Bitcoin Magazine, who has also been working on competing browser-based wallets Dark Wallet and KryptoKit . He wants new altcoins to be written for, and run on, Ethereum: "You would have no need for mining if you do it on top of Ethereum. That's the thing; Ethereum makes it dead easy to make a new crypto." The Ethereum network uses its own mining technology, Dagger. It utilises some of the concepts in the scrypt mining algorithm to keep the mining process even and fair. Scrypt (which is used by altcoins like litecoin ), was designed to be more friendly to CPUs (and unfriendly to ASIC miners), so that a core elite of powerful ASIC users didn't get an unfair advantage. Slowly, people are circumventing that protection, and developing powerful mining hardware for ASIC, so Dagger tweaks those concepts in an attempt to make things more democratic once again. Dagger is an initial proof of concept, and the Ethereum team is considering a contest for the best possible ASIC-resistant proof of work. The developers are also looking into proof of stake, and they have developed a new PoS algorithm called Slasher. It solves many problems associated with older algorithms. So, Ethereum is a mining network, but it's also a kind of operatin Continue reading >>

Ethereum Project

Ethereum Project

You are responsible for your own computer security. If your machine is compromised you will lose your ether, access to any contracts and possibly more. You are responsible for your own actions. If you mess something up or break any laws while using this software, it's your fault, and your fault only. You are responsible for your own karma. Don't be a jerk and respect the rights of others. What goes around comes around. The user expressly knows and agrees that the user is using the Ethereum platform at the users sole risk. The user acknowledges that the user has an adequate understanding of the risks, usage and intricacies of cryptographic tokens and blockchain-based open source software, eth platform and ethereum The user acknowledges and agrees that, to the fullest extent permitted by any applicable law, the disclaimers of liability contained herein apply to any and all damages or injury whatsoever caused by or related to risks of, use of, or inability to use, ethereum or the Ethereum platform under any cause or action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence) and that neither Stiftung Ethereum (i.e. Ethereum Foundation) nor Ethereum team shall be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data that occurs as a result. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for certain types of damages. Therefore, some of the above limitations in this section may not apply to a user. In particular, nothing in these terms shall affect the statutory rights of any user or exclude injury arising from any willful misconduct Continue reading >>

Ethereum 2.0 - What Can We Expect From The Update? - Cryptoticker

Ethereum 2.0 - What Can We Expect From The Update? - Cryptoticker

Ethereum was one of the big winners this week pinning down two major points. Their cryptocurrency rose from around $350 to an all-time high of $515 before settling around the $400 mark. But the much more interesting event was the announcement of the 2. generation of Ethereum at the BeyondBlock Taipei 2017 . Although there wont be one date where the platform launches, rather a series of updates, Vitalik Buterin, aka Lama Shirt, laid out the roadmap for the next years of the smart contract platform. The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0 Vitalik Buterin. Big statements. Its true that it handles more transactions than all major blockchains combined. However since many of the popular dApps such as Storj, Augur, TenX etc. currently run on the Ethereum blockchain, its performance is of major importance. With only 4-8 transactions per seconds it has huge limitations for mainstream market adaption. How is the Ethereum foundation coping with theses challenges? Here are some of the solutions they are proposing. Imagine Ethereum as a huge block of data that has to be shared on all participants. Currently this involves sending/sharing big amounts of data with participants who can make no use of this data. This increases the amount of redundancy and is a major waster of electricity, which at the current moment is one of the main flaws of the system. The problem, according to Buterin, will be solved by sharding. Sharding means splitting the network into smaller components. Each node will only process a small amount of information and validate fewer transactions. This way the system will become more decentralized, Itll increase in speed and data size will be lowered. Successful implementation will lead to comparable Continue reading >>

Roadmap To Ethereum 2.0 As Explained By Co-founder Vitalik Buterin

Roadmap To Ethereum 2.0 As Explained By Co-founder Vitalik Buterin

Roadmap to Ethereum 2.0 as Explained by Co-founder Vitalik Buterin During a recently held Beyond Block Taipei 2017 conference in Taiwan, Ethereum co-founder Vitalik Buterin has laid the future plan and the roadmap to upcoming and necessary changes in the Ethereum blockchain in order to deal with some of the existing challenges as well as shaping the future path. The plan aims at achieving VISA-level scalability in almost next 3-5 years and further provides some extensive information. Vitalik Buterin started the conference with a sarcastic comment posting towards the Ethereal replacements that have currently arrived in the market. Buterin said: The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0. Vitalik was quick enough to point out the four major problems as faced today by Ethereum that includes scalability, consensus safety, privacy and smart contract safety. For the last three points, Buterin and his team are already ready with a set of solutions. In order to work over the privacy concerns relating to transactions, the developer team at Ethereum integrated the zk-SNARKs technology into the Byzantium hard fork. Vital calls this as the most viable solution for continuous implementation. Similarly, the smart contract safety can be provided through the Viper technology and by using a formal verification procedure. To solve issues with consensus safety, a Casper project is currently being developed which aims to replace the existing proof-of-work mechanism with proof-of-stake. Vitalik pointed that this is one of the most essential prerequisites for all the future developments of Ethereum. But still, one of the major underlying issues is the scalability of Ethereum network. Vitalik said that the major challenge here i Continue reading >>

How To Invest In Ethereum (and Is It Too Late)

How To Invest In Ethereum (and Is It Too Late)

Home How To Invest In Ethereum (And Is It Too Late) How To Invest In Ethereum (And Is It Too Late) Ethereum has become a popular cryptocurrency alternative to Bitcoin over the last year. However, unlike Bitcoin and rival currency Litecoin, Ethereum has been adopted by many companies and startups as a way to transact (and more). In the cryptocurrency wars, I like to view Ethereum like the diamond of the currencies - it has both a intrinsic value and an industrial value. Compare this to Bitcoin, which operates like gold - not much industrial value, but people buy it and sell it based on it's intrinsic value to the holder. Given the popularity of Ethereum, many people are curious about what it actually is, how it's different than Bitcoin, and how to invest in it. It's also important to note the risks of investing, and the potential to mine it and create your own wealth of Ether (the actual monetary unit of Ethereum ). Before we dive in, it's important to note that to look at, use, and transact in Ethereum, you need a digital wallet. We recommend Coinbase because it's free, has a great app, and they give you a bonus for depositing $100 . Check it out. Ethereum is basically software that is decentralized and allows developers and programmers to run the code of any application. Wait, what? I thought Ethereum was money... well it has a monetary aspect. You see, Bitcoin uses a technology called blockchain specifically for conducting monetary transaction - it's a straight currency. Ethereum uses blockchain technology to allow the creation of applications that can be executed in the cloud, can be protected from manipulation, and much more (some stuff getting too technical for me here). However, a bi-product of this is that Ethereum uses a token called Ether, which is like Bitcoi Continue reading >>

Ethereum: The No. 2 Cryptocurrency Is Like The Currency Of An Innovative Country

Ethereum: The No. 2 Cryptocurrency Is Like The Currency Of An Innovative Country

Ethereum: The No. 2 Cryptocurrency Is Like The Currency Of An Innovative Country This article is an introduction to the Ethereum framework, and its cryptocurrency Ether, for beginners. Ethereum substantially differs from Bitcoin due to its much broader use case, being essentially a platform to execute smart contracts. It is therefore also a play on blockchain in general and on the internet of things. Being the no. 2 cryptocurrency by market capitalization, it is certain to be included in passive cryptocurrency products soon to be launched, generating incremental demand. While it is a long-term play, interested investors may therefore want to start building positions now. Virtually everybody not living under a rock is by now aware of the existence of Bitcoin (BTC), the biggest cryptocurrency, with US$100 billion total market value as of the time of this writing, although probably a majority of people has no deep understanding of what it is and how it works, as evidenced by remarks such as those recently made by the CEO of a major global bank . The set of people familiar with Ether, the No. 2 cryptocurrency by value (currently US28 billion), will be significantly smaller, with even fewer people understanding its workings, specifically the Ethereum framework of which it is a vital part. This article sets out to provide a brief overview of Ethereum, including discussion of a potential valuation framework. Based on the underlying fundamental attractiveness of Ether as well as the fact that its inclusion in soon-to-come passive cryptocurrency investment products is virtually guaranteed by its no. 2 status by market capitalization, investors may well consider starting to accumulate a position. Like Bitcoin, Ether is essentially a digital asset that lives as a credit position Continue reading >>

Buterin Unveils Ethereum 2.0 Roadmap As Coin Nears $500

Buterin Unveils Ethereum 2.0 Roadmap As Coin Nears $500

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Vitalik Buterin Uncovers Ethereum 2.0 Roadmap In Taiwan

Vitalik Buterin Uncovers Ethereum 2.0 Roadmap In Taiwan

All eyes were on Vitalik Buterin at the recently heldBeyond Block Taipei 2017 conference, in Taiwan, where Ethereum co-founder presented his plan for the Ethereum blockchain technology. Vitalik discussed some of the existing problems within Ethereum blockchain and the ways developer community is working towards future scalable solutions. By going deeper into the specifics of each issue, Vitalik provided the audience with a substantial amount of information. The roadmap highlights that in next 3-5 years Ethereum is all set to achieve VISA-level scalability in its operations. While commenting on several Ethereum replacements, which have come to the market in recent months, Vitalik stated: The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0. Quickly coming to the main point, Vitalik said that the four major problems faced by Ethereum today are privacy, smart contract safety, consensus safety, and scalability. According to Buterin, he and his team is ready to provide already developed solutionstothe first three issues. In order to improve the level of privacy in transactions, zk-SNARKs support has been integrated with the Byzantium hard fork, which Vitalik claims to be a viable solution for long-term continued implementations. Similarly, a high level of reliability can be brought to smart contracts through the Viper technology and a formal verification process. For the purpose of solving consensus safety issues, a Casper project is being developed. The primary goal of this project is to replace proof-of-work mechanism with proof-of-stake one. According to Vitalik this change in the consensus mechanism is essential for the future development of Ethereum. However, one of the major issues, which the developer community of Continue reading >>

Ethereum Price - Ethereum Price Chart & History In Usd

Ethereum Price - Ethereum Price Chart & History In Usd

Ethereum is a developer platform for the creation of decentralized applications running on blockchain, through the use of smart contracts. It was launched on June 30, 2015 by Vitalik Buterin and has been gaining popularity ever since. At the time of writing, Ethereums market cap is at $4,713,144,698 only second to Bitcoin. Just like Bitcoin, Ethereum is a platform based on blockchain technology. Blockchain as we know it has many applications that go beyond digital currencies. Today, Bitcoin is one of the several hundred of applications that use blockchain. In simplest terms Ethereum is an innovation based on the technologies and concepts that originally pioneered Bitcoin. Smart contract aka cryptocontract is a term used to describe a program that help you exchange money, property, shares, or anything of value in a transparent, conflict-free way. These are the programs that follow a series of steps every time they receive a message called a transaction. Think of a smart contract as a traditional contract between two parties. It can not only define the rules and penalties of the agreement, but also automatically enforce those obligations. Smart contracts achieve this by by taking in information as input, assigning value to that input through the rules set out in the contract, and executing the actions required by those contractual clauses. Ether is the currency or value token of the Ethereum blockchain. That means Ether is required by anyone wanting to build upon Ethereum platform. It is listed as ETH and traded on cryptocurrency exchanges like any other cryptocurrency. There are three ways you can get hold of Ethereum. Most popular exchanges to buy ETH with USD, EURO, Yuan and other currencies are Coinbase and Cex.io. You can also use Bitcoin to buy ETH from the trusted Continue reading >>

2018 To See The Rise Of Ico 2.0

2018 To See The Rise Of Ico 2.0

The investment world was blown away last summer when Initial Coin Offerings raised more funds YTD than venture capitalists. Companies like Paragon, Tezos, and Gimli raised scads of money without selling a single share, leading any entrepreneurs with ideas in their heads to step up to the plate. More than 200 startups raised more than $3.2 billion worldwide through ICOs in 2017. No longer is Wall Street the place to go when looking to invest. Weve seen crowdfunding rise, allowing anyone with a computer and a bank account to support a startup and receive a quick return in the form of merchandise and other gifts. Just think of ICOs as crowdfunding with cryptocurrency. ICOs really took off after Ethereum raised more than $18 million in 2015, successfully creating its foundation and demonstrating just how ready the economy was for a new form of finance. As opposed to IPOs, which require a product and some standard level of investor understanding, ICOs are an easy way for any entrepreneur with an idea to raise the funds needed to guide a company through its initial phases. An ICO occurs when a startup releases its own version of cryptocurrency game tokens, for example sold in exchange for Bitcoin or another digital currency. Buyers purchase the tokens either to use at a later time once the game or other program is up and running, or to resell once the company is established and the tokens hold a greater market value. Imagine that a friend is building a casino and asks you to invest. In exchange, you get chips that can be used at the casinos tables once its finished, the New York Times Kevin Roose wrote . Now imagine that the value of the chips isnt fixed, and will instead fluctuate depending on the popularity of the casino, the number of other gamblers and the regulatory env Continue reading >>

Buterin Lays Out Ethereum's Next 3-5 Years, Explains Sharding

Buterin Lays Out Ethereum's Next 3-5 Years, Explains Sharding

Buterin Lays Out Ethereum's Next 3-5 Years, Explains Sharding Vitalik Buterin, the founder of the Ethereum blockchain, recently discussed the platforms three-to-five-year plan, highlighting the strategy of increasing privacy and boosting scalability through sharding. On November 25, Ethereum founder Vitalik Buterin addressed a crowd at the conference Beyond Block Taipei, where he discussed many of the blockchain platform's goals for the next three to five years and described some of the ways that he and his colleagues intend to achieve them. He began his talk, entitled "Ethereum 2.0," by noting that the term does not refer to a specific set of updates, but rather to ongoing efforts to improve the platform's performance in areas including privacy and scalability. "Blockchains are public ledgers," he explained, a format which is advantageous in the sense that, "you have lots of nodes verifying data, but on the other hand, blockchains have lots of nodes seeing data." Developers have identified many avenues through which to resolve this paradox and ensure privacy, including "mixers," " state channels," and "some kind of higher-tech cryptographic alternatives." The recent Byzantium hard fork, he reported, enhanced Ethereum's ability to support cryptographic algorithms like "zero-knowledge proofs [and] ring signatures that don't fully solve the privacy problem on their own, but give us some very powerful tools on top of which we can start building the solutions." According to Buterin, the privacy issue is "3/4 of the way to being solved" on the base layer, while more work remains to be done on second layer blockchains. Another Ethereum shortcoming that the young founder acknowledged was proof-of-work mining's stunningly inefficient use of energy. PoW bitcoin mining currently Continue reading >>

Vitalik Unveils Ethereum 2.0roadmap

Vitalik Unveils Ethereum 2.0roadmap

How Ethereum plans to address current problems in theprotocol Vitalik publicly reveals plans for Ethereum 2.0. Credits to the organizers of BeyondBlock Taipei 2017 for thephoto. On behalf of the entire team at COBINHOOD , we are honored to be part of Beyond Block Taipei 2017 , where we were able to stand alongside and exchange ideas with our peers in the Ethereum community. Most significant, perhaps, was the unveiling of the roadmap for Ethereum 2.0 by Vitalik Buterin, co-founder of Ethereum. Below is a short takeaway from his talk, followed by a short introduction to COBINHOOD (in case you dont know who we are yet ). During Vitaliks talk, who was the final speaker during the event, he started off by sharing the most significant problems Ethereum needs to solve and how these issues can be addressed with the introduction of Ethereum 2.0. He began by noting that Ethereum will be evolving over time, and 2.0 will lay the groundwork for what the protocol will look like in the future. In essence, Ethereum 2.0 will advance the core model of the protocol through sharding, which, to paraphrase his words, sharding is like creating a blockchain with a hundred different universes with different account spaces in each universe. But these universes are not just separate blockchains, according to Vitalik, they are systems that are interconnected with one another, which also share consensus. Sharding is also seen to provide quadratic scalability. Note that, the shards will create new address space and will not be affecting existing address space which gives us a unique opportunity to make many important (but backward incompatible!) changes to the protocol, stressed Vitalik. So, claimed Vitalik, in order to break one of these shards, you have to break the whole thing. Apart from this, Continue reading >>

What Is Ubiq? Ethereum 2.0? Steemcreated With Sketch.

What Is Ubiq? Ethereum 2.0? Steemcreated With Sketch.

UBIQ is a decentralised platform which allows for the development and deployment of smart contracts and decentralised applications (Dapps). The UBIQ blockchain - which is a globally distributed ledger - is built upon an improved Ethereum codebase, allowing developers to automate thousands of tasks that are currently carried out by third party intermediaries. An example of a task is the listing of a house/apartment for rent or sale. Traditionally, the seller and the buyer would have to arrange a meeting where the contract is signed and the keys are handed over. The seller would have to trust that the buyer will adhere to the payment plan listed in the contract and if not, litigation would have to take place which could entail extortionate fees and the waste of valuable time. Secondly, the contract could be lost or covertly modified by either the buyer or the seller with bad intentions. In this case, It would be the buyer's word against the sellers. Alternatively, the seller could choose to hire a letting agent to deal with the handover of the keys and the signing of the contract. However, this incurs extra costs as the letting agent would have to be paid for their services. Smart contracts allow the automation of this complicated process. The seller would simply encode the agreements listed in the physical contract onto the UBIQ blockchain creating a smart contract. The seller would also deposit the digital access key to the apartment/house into the smart contract, the condition for release being the payment of 100,000 UBIQ tokens from the buyer. The exchange would occur instantly with the transaction and new ownership of the house recorded on the blockchain. There is no possibility of the contract being lost or modified as there are thousands of copies throughout the b Continue reading >>

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap November 29, 2017, 01:19:32 PM EDT By Giulio Prisco, Bitcoin Magazine Speaking on November 25 at BeyondBlock Taipei 2017 , Ethereum inventor and co-founder Vitalik Buterin outlined his vision for Ethereum 2.0. He described major changes in Ethereum's architecture that are likely to be implemented over the next few years to improve Ethereum in terms of privacy, safety (consensus safety and smart contract safety) and, of course, scalability, which was the main focus of Buterin's talk. Buterin doesn't seem worried about competitors. "The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0," he said. The fact that Ethereum is booming seems to confirm Buterin's optimism. ETH's price has been relentlessly climbing, recently reaching almost $500, and Ethereum is handling more transactions than all other major blockchains combined. Decentralization, scalability and security are among the important properties that blockchain systems should have, but there are conflicts. Off-chain solutions are useful, but limited. According to Buterin, it's very easy to have two of these properties but very hard to have all three. However, Ethereum's ambitious goal should be that of achieving all three at the same time. "We want to scale to thousands of transactions per second, on chain, without any supernodes," reads one of Buterin's slides. Sharding - dividing a blockchain network into several smaller component networks (called shards) capable of processing transactions in parallel - is considered to be a promising way to achieve high throughputs comparable to the thousands of transactions per second of traditional payment networks such as Visa and MasterCard. "You can think of [sh Continue reading >>

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap

The Ethereum Killer Is Ethereum 2.0: Vitalik Buterins Roadmap Speaking on November 25 at BeyondBlock Taipei 2017 , Ethereum inventor andco-founder Vitalik Buterin outlined his vision for Ethereum 2.0. He described major changes in Ethereums architecture that are likely to be implemented over the next few years to improve Ethereum in terms of privacy, safety (consensus safety and smart contract safety) and, of course, scalability, which was the main focus of Buterins talk. Buterin doesnt seem worried about competitors. The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0, he said. The fact that Ethereum is booming seems to confirm Buterins optimism. ETHs price has been relentlessly climbing, recently reaching almost $500, and Ethereum is handling more transactions than all other major blockchains combined. Decentralization, scalability and security are among the important properties that blockchain systems should have, but there are conflicts. Off-chain solutions are useful, but limited. According to Buterin, its very easy to have two of these properties but very hard to have all three. However, Ethereums ambitious goal should be that of achieving all three at the same time. We want to scale to thousands of transactions per second, on chain, without any supernodes, reads one of Buterins slides. Sharding dividing a blockchain network into several smaller component networks (called shards) capable of processing transactions in parallel is considered to be a promising way to achieve high throughputs comparable to the thousands of transactions per second of traditional payment networks such as Visa and MasterCard. You can think of [sharding] as, in a fairly simple version, creating a blockchain where you have, lets say, Continue reading >>

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