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Ethereum Practical Applications

Getting Started With Distributed Apps Onethereum

Getting Started With Distributed Apps Onethereum

Im a software engineer in Chicago. I build products and write code. Mostly JavaScript. I also cook. Usually not while writing code. Getting Started with Distributed Apps onEthereum In the past weve talked about how the blockchain works and some of the practical applications of the blockchain on our society . In this post Im going to talk a little bit about distributed applications that take advantage of smart contracts on the ethereum blockchain and give a quick guide to getting started building a distributed application on the blockchain. Distributed Applications (Dapps) are applications (typically a web application) that run in your browser and interact directly with Smart Contracts on the block chain. A traditional web application (Like a shopping cart) would have a web client that makes API requests to a backend server and persists. Data would be stored on a database wholly owned by the application and all business logic would occur in the API Layer. In a dapp, the web application reads data directly from the blockchain and writes data via transactions back to the blockchain. All business logic occurs in a smart contract that is deployed to the blockchain. Because Dapps do not interact with an API but instead interact directly with Ethereum and smart contracts, you need to enable your browser to communicate directly with the ethereum network and the smart contracts that exist on it. In the future its very likely that your browser will come with a wallet that allows you to post transactions to various blockchains, but until then the best choice is running a browser extension called MetaMask. MetaMask is not only a wallet (it allows you to store and transfer ether), it also exposes a javascript sdk that allows you to interact with the ethereum blockchain from within Continue reading >>

Okay, Wtf Is Ethereum?

Okay, Wtf Is Ethereum?

A beginners guide to the worlds second most popular cryptocurrency. By now, chances are pretty good that you've heard of bitcoin, the cryptocurrency unleashed on the world in 2009 by a mysterious person or group that goes by Satoshi Nakamoto. Maybe you've heard it's the currency that fuels massive darknet drug markets like the now-defunct Silk Road . Or maybe your encounter with the cryptocoin was more benign and you saw one of the weird looking bitcoin ATMs in a convenience store. But unless you're already pretty involved in the cryptocurrency world, you may not have heard of ethereum, the second largest crypto asset that's recently been giving bitcoin a run for its virtual money. Even if you have heard of ethereum, you may be at a loss when it comes to explaining how it differs from bitcoin. In either case, you've come to the right place. Ethereum is often touted as a "world computer." What that fancy language really means is that ethereum is a platform for the creation of decentralized applications (dapps), using what are known as smart contracts . Smart contracts are bits of code that automatically execute an action after certain requirements have been metsay, sending a slice of an app's profits to investors after a predetermined date has passed. Bitcoin has smart contracts, too, but ethereum makes them really easy to use since they're baked into the system's design. All of this takes place on a blockchain, which bitcoin uses, too. All a blockchain does is act as a public ledger that lists everything that goes on in the network in real-time. It's the tool that makes the whole thing possible. The blockchain, and thus the ethereum network, is distributed across thousands of computers (or "nodes") around the world. It's also "Turing complete," which means that smart c Continue reading >>

These Are 8 Real World Uses For Ethereum

These Are 8 Real World Uses For Ethereum

You are at: Home Knowledge These are 8 real world uses for Ethereum Lets talk today about some real-life applications of ethereum. First of all, Ethereum is a huge platform that is used to build decentralizedservices, also called dapps (decentralized apps).However, just like a large container ship or an airplane, Ethereum also needs fuel to work. This fueliscalled Ether and is traded publicly on several cryptocurrency exchanges. So,very important, Ethereum is NOT the same as Ether.We wrote a very detailed post about that topic some while ago, just click here if you want toknow more. Anyways, now that you know that Ethereum is not the same as Ether,lets talk about what it can be used for. As mentioned before, Ethereum is a huge network. This network is formed of thousands of computers all around the world. This is also called a decentralized network. The main benefit of this is that the computers that form it cannot be shut down, or controlled, by a single entity. And well, a secure and decentralized network has unlimited applications. Ethereum will completely revolutionize the health-care system. All hospitals around the world can store, access and sharetheir patients records. This isa key factor in developing new vaccines for viral outbreaks, or even preventing them in the first hand. You can go toa doctor in Thailand for a check up when you are on holidays and to ahospital in New York when you are back home again, and both will have the same information about you. But thats not all. Remember the whole wearables craze a couple years ago? Well, like it or not, those devices are here to stay. Now imagine that the data your smart watch records every day are automatically shared with every hospital in the world. This way, patterns could be found in medical conditions like Continue reading >>

What Can You Do With It

What Can You Do With It

The purpose of this page is to serve as an introduction to the basics of Ethereum that you will need to understand from a development standpoint, in order to produce contracts and decentralized applications. For a general introduction to Ethereum, see the white paper , and for a full technical spec see the yellow papers, although those are not prerequisites for this page; that is to say, this page is meant as an alternative introduction to Ethereum specifically targeted toward application developers. Ethereum is a platform that is intended to allow people to easily write decentralized applications (apps) using blockchain technology. A decentralized application is an application which serves some specific purpose to its users, but which has the important property that the application itself does not depend on any specific party existing. Rather than serving as a front-end for selling or providing a specific party's services, a app is a tool for people and organizations on different sides of an interaction use to come together without any centralized intermediary. Even necessary "intermediary" functions that are typically the domain of centralized providers, such as filtering, identity management, escrow and dispute resolution, are either handled directly by the network or left open for anyone to participate, using tools like internal token systems and reputation systems to ensure that users get access to high-quality services. Early examples of apps include BitTorrent for file sharing and Bitcoin for currency. Ethereum takes the primary developments used by BitTorrent and Bitcoin, the peer to peer network and the blockchain, and generalizes them in order to allow developers to use these technologies for any purpose. The Ethereum blockchain can be alternately described a Continue reading >>

Ethereum Use Cases

Ethereum Use Cases

Directory of Practical Applications of the Ethereum Blockchain with Definitions Ethereum is all about its use cases. They are what defines its utility. Sure its a great crypto currency and you can make money mining Eth, but the real advantage is in the many different applications it has. As it evolves, it is positioned to make some real changes in the way people interact in the future. But when I started digging into this I found detailed descriptions few and far between. This website will look in some detail at various use cases or applications of the Ethereum Blockchain technology. It will describe the technology without expecting the reader to already understand Ethereum and the diction of distributed applications. I describe things from a users perspective. So to a user, a miner is just part of the utility of the blockchain. A trader is immaterial to the operation of the smart contracts, so I will not touch on either of these aspects even though they are a big part of Ethereum. Comments are welcome as are corrections. I hope you enjoy reading this as much as I am enjoying developing it.This website has no formal association with Ethereum, or The Ethereum Foundation application , practical application , use case Grid+ is a powerful application that can be marketed to standard consumers, save them significant money without any knowledge of blockchain. The premise is very attractive. Plug in a device, give it credits and it will reduce your electrical bill for you. It introduces a household appliance that trades on the blockchain on your behalf, our first IOT device! It is also the first application detailed on this website with a snappy video introducing their product. For some of us, buying electricity is simple, one price day or night, pay for what you use. But if Continue reading >>

What Are Practical Applications Of Ethereum?

What Are Practical Applications Of Ethereum?

What are practical applications of Ethereum? Home / Ethereum - ETH / What are practical applications of Ethereum? What are practical applications of Ethereum? wp-admin January 7, 2018 Ethereum - ETH Leave a comment 17 Views When it comes to cryptocurrency , everybody thinks of Bitcoin immediately due to being the first digital money. But, how about Ethereum ? Why does Ethereum attract so many investors? From my point of view, Bitcoin is only a tool for transacting and a bait for Sharks to surf. Ethereum has much more practical applications. In this article, I will prove this point. Below, I will list some of Ethereum practical applications. What are practical applications of Ethereum? On the side of payment, Ethereum is similar to Bitcoin, which are all convenient payment methods. If Bitcoin bases on Bitcoin Blockchain architecture, Ether also bases on Ethereum Blockchain architecture. Since the born of Ethereum, there are many arguments that it could be used as common currency for the whole World. This viewpoint is not irrational due to its security, transparency and convenience. Ethereum network is used by engineers from Digix to build an app for Gold investment. Digix is used to buy Gold Token via official money or Ether. These Tokens are encrypted complicatedly and are link securely with miners in Singapore. If Digix is down, you still can these Tokens for real Gold without any intermediate organizations like Banks, agencies, Gold shops. Some organizations like Indiegogo and Kickstarter used Ethereum network to build and develop public funding system. All you need to do is ideal and target, who see your idea is potential will invest in by cryptocurrency. After funding, Kickstart will take 5% of your total funds as the fee, the other 95% will in the startups control Continue reading >>

Real World Use Cases For Ethereum

Real World Use Cases For Ethereum

In addition to being a great investment coin, Ethereum is a platform that enables what has come to be known as web 3.0. Web 2.0 (the internet as we know it) is basedoncentralized servers; to have access to the internet and most of the services therein, we have to rely on third-party servers. These servers charge us fees and collect our data (often against our will). With Ethereum, there are no centralized servers. Instead, Ethereum runs on blockchain technology, a kind of distributed ledger technology that is upheld by a network of thousands of different computers, called nodes. In exchange for performing the duties that secure the network and verify the transactions that take place on it, the nodes receive rewards in the form of ETH tokens. Ethereum was the first cryptocurrency that was built to function primarily as a settlement layer. This means that it was designed as a platform for other things to be developed on. In contrast, Bitcoin was designed initiallyto transact as a form of digital cash (though,over time, Bitcoin has become more of a settlement layer itself). One aspect of Ethereums suitability as a settlement layer is its capability for creating and executing smart contracts . What are Smart Contracts? How Ethereum Works Ethereums smart contracts have been famously explained by Nick Szabo as being similar to a vending machine. When you use a vending machine, you put money in, press a button, and receive your candy. Its all automated; there is no third-party that needs to come and make sure that you inserted your coin or unlock the door to give the candy to you. Smart contracts operate similarly, except they usually have nothing to do with candy; rather, they can be applied to tons of different scenarios across different industries. Smart contracts take the Continue reading >>

What Is Ethereum? A Step-by-step Beginners Guide

What Is Ethereum? A Step-by-step Beginners Guide

If you want to know what is Ethereum and how it works and what it can be used for, without going deep into the technical abyss, this guide is perfect for you. Important Note: This guide assumes a basic understanding of blockchain technology. If youre unfamiliar with blockchain, check out this step by step introduction for beginners . Beyond Bitcoin & first generation decentralized applications Although commonly associated with Bitcoin , blockchain technology has many other applications that go way beyond digital currencies. In fact, Bitcoin is only one of several hundred applications that use blockchain technology today. [Blockchain] is to Bitcoin, what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one. Sally Davies, FT Technology Reporter Until relatively recently, building blockchain applications has required a complex background in coding, cryptography, mathematics as well as significant resources. But times have changed. Previously unimagined applications, from electronic voting & digitally recorded property assets to regulatory compliance & trading are now actively being developed and deployed faster than ever before. By providing developers with the tools to build decentralized applications, Ethereum is making all of this possible. At its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. Is Ethereum similar to Bitcoin? Well, sort of, but not really. Like Bitcoin , Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capabil Continue reading >>

Why I Bet On Ethereum Raul Jordan Medium

Why I Bet On Ethereum Raul Jordan Medium

rauljordan.com | Harvard University | Thiel Fellow | Blockchain Engineer | Ethereum Protocol Developer Back when the wild west of cryptocurrencies was first in full swing and the mainstream media was swamped with stories of drug cartels and launderers smuggling millions through bitcoin, it was pretty hard for an average person to see the value in the concept of a virtual currency. Among the initial questions that echoed across the world were What are the practical applications of this aside from buying drugs on silk road? Fast forward a few years and although we have come a long way and blockchain education is easier to access, there is still a strain of naysayers with arguments that focus solely on the currency and not as much on the powerful, but subtle implications of decentralized systems. These questions are a result of a lack of education on the technology underlying cryptocurrencies themselves, namely, the blockchain. There was too much of a focus on trying to frame Bitcoin purely in transactional terms, automatically assuming the same of other blockchain protocols and completely missing the point. With distributed ledgers came the advent of those desiring more expressive capabilities and applications on these systems. It was only a matter of time before developers were asking why not create fully decentralized applications that do more than just handle payments? Companies started to use blockchain systems as a way to store certain types of data, with various projects aiming to use a blockchain as an immutable store of knowledge, even though large portion of the Bitcoin community have been opposed to on-chain data storage . Many started to ask, could we go even further or use the blockchain for computational purposes? The Ethereum project gave us exactly that: a Continue reading >>

Top 10 Cryptocurrencies With Practical Use Cases

Top 10 Cryptocurrencies With Practical Use Cases

Top 10 Cryptocurrencies With Practical Use Cases By: Sudhir Khatwani In: Cryptocurrency Last Updated: The list of cryptocurrencies on CoinMarketCap just keeps on increasing At the time of writing this article, there are more than 860 cryptos listed on CoinMarketCap, with a total market cap of $145 billion. Out of this $145 billion, $79 billion is the market cap of the biggest cryptocurrency Bitcoin . The remaining $76 billion is shared by the remaining 860 altcoins (i.e. alternative cryptocurrencies). Some people might think that Bitcoin is the only useful coin out there, simply because of how its dominating over 50% of the market. <br /> Can't load widget<br /> But I would say this is not fair because of 3 reasons: Bitcoin is the worlds first cryptocurrencies and therefore, it has the first movers advantage. All/most altcoins/cryptocurrencies are addressing different problems and use cases that Bitcoin doesnt aim to solve. The crypto market is a decentralized free market where no one has autonomous power. Bitcoin could drastically fall in price in an instant. Crypto-projects are evaluated by market sentiments and the use cases the project is intending to solve. Im also not denying the existence of scams, and pump and dumps, and MLM coins, but the market will eventually filter these coins out. So lets look at some of the best cryptos with real, functional, and effective use cases. Top 10 Cryptocurrencies With Practical Usecases Of course, I will start my list with the king of cryptocurrencies Bitcoin. Bitcoin has been effectively solving a real-world problem since it was born in 2009. It was invented by Satoshi Nakamoto and meant to be an alternative to the traditional banking system for the global masses. Satoshi understood thatcentral bank Continue reading >>

How To Use Ethereum - Coindesk

How To Use Ethereum - Coindesk

The thought of using ethereum might sound intimidating, but it could be rewarding. If the 'unstoppable world computer' develops according to plan, it could provide alternatives to the Facebooks and Googles that many people use everyday(as explained in " What is Ethereum? "). Ethereummight not be as intuitive as the web as we know it today, but still, anyone with a computer or a smartphone can try the platformout as long as they own ' ether 'unique pieces of code that allow updates to the blockchain's ledger. First, you need a place to securely store your ether (or at least a place to store your private keys). This brings us to ethereum 'wallets'. One caveat is that losing your private key is a much bigger deal than misplacing a password: it means losing your ether, forever. Removing trusted partiesis a two-edged sword. While intermediaries are no longer needed to verify transactions, there's no help desk to turn to for help recovering your secret key. With that in mind, there are plenty of options for wallets to store cryptocurrency: desktop wallets, web wallets, hardware wallets and paper wallets. Choosing one depends on your preferences for convenience and security. Usually these two concepts are at odds with one another: the more convenient, the worse the security (and vice versa). Desktop wallets run on your PC or laptop. One option is to download an ethereum client (a copy of the entire ethereum blockchain). There are a few ethereum clients written in different programming languages and with different performance tradeoffs. This process can take up to a couple days, and will only increase as ethereum grows. The wallet then needs to stay in sync with the latest transactions on the blockchain. Mobile clients, or 'light' clients, require less data to be downloaded to Continue reading >>

Business In The Age Of Ethereum

Business In The Age Of Ethereum

The Z Grills Elite 900 is an all-in-one cookout workhorse thats easy touse Deep Patel is a serial entrepreneur, marketer and the author of A Paperboy's Fable: The 11 Principles of Success . When Bitcoin burst onto the scene in 2009, it challenged preconceived notions about the limitations of transactions. Fast-forward 8 years, and another platform is dominating the headlines. Ethereum has built on Bitcoins potential and is driving a revolution in financial transactions. Ethereum is an open-source platform that facilitates the development of next-generation decentralized applications. It was conceptualized in 2013 by Vitalik Buterin , who at the time was conducting research within the Bitcoin community. Since Buterins initial ideation, Ethereum has grown in interest and scale; today it is poised to overhaul open-source development. Bitcoin opened the world to the possibilities of shared ledgers, and now Ethereum is expanding on that potential. According to Buterin , Ethereum uses many of the same systems (such as blockchains and peer-to-peer networking) in order to generate a shared-world computing platform that can flexibly but securely run any application users want to code (shared ledgers like Bitcoin included). Since Bitcoins debut on the world stage, many developers have sought to apply the ideology to new systems similarly underpinned by blockchain technology. However, these iterations failed to impact the tech and financial-services communities because they were limited to a few functionalities. The intent of Ethereum is to transcend those limitations by creating a blockchain protocol with its own native programming language, which enables any application to be written on top. This structure supports all existing and future applications and lends itself to an env Continue reading >>

7 Cool Decentralized Apps Being Built On Ethereum - Coindesk

7 Cool Decentralized Apps Being Built On Ethereum - Coindesk

7 Cool Decentralized Apps Being Built on Ethereum Imagine a company or service that isn't controlled by any single individual, board or other central entity. Known as a decentralized application, or 'dapp' for short, the concepthas been one of the more novel ideas to emerge from theblockchain community. Armed with self-executing smart contracts , proponents of the technology have envisioned ways to replace everythingthat today requires a centralized leadership, from businesses and services to governments. In some ways, bitcoin could be considered the first dapp, as it is fully open-source, rewards contributors, runs without a central authority and uses blockchain technology to help facilitate its continued use case as an online currency. Next-generation innovators are now seeking to apply these same principles to a variety ofonline services they believe could be built in the dapp format, armed with a littleeffort, know-how and the will to charge forward into the unknown. Although a new field, dapps are growing in number and many now exist in various stages of completeness, from concept to working prototype andfunctional platform. Ethereum 's decentralised blockchain and its native digital currencyEther areproving perhaps the most widely used tools for dapp building , as its networkis specifically builtfor the purpose and the Ethereum Foundation, its trade organization overseeing development, runs regular 'hackathon'events to promote new decentralized applications. For this feature, CoinDesk casts its eye over the current offerings and picks out sevenof the more interesting projects beingdeveloped usingthe Ethereum blockchain. The Vevue project promises to "bring Google Street View to life", by enabling users to take 30-second video clips ofrestaurants, hotels, places, Continue reading >>

4 Real-world Applications Of Ethereum That Could Change The World We Live In

4 Real-world Applications Of Ethereum That Could Change The World We Live In

4 Real-World Applications of Ethereum that Could Change the World We Live In Ethereum is a name that inadvertently pops up in any discussion about cryptocurrencies. 4 Real-World Applications of Ethereum that Could Change the World We Live In 10.01.2018 Leave a comment But, Ethereum is really a platform. Ether is the cryptocurrency that powers it. Ethereum has a lot of other applications than being a cryptocoin. It derives its utility from the technology and its versatility. Ethereum is a big platform that can be used to create decentralized applications. In the world of Ethereum, they are called DAPPS, short for Decentralized APPS. There are many developers that are trying to build something amazing on this platform. Investors can see the ball rolling and they are putting in the money to keep it rolling faster. So, what are these applications that have the power to transform the world? Any technology that has the potential to improve the existing healthcare system is always welcome because it is such a basic need. Any small improvement in this domain impacts every person on the planet. So, it is a pretty big deal. Ethereum has the potential to become that next big thing in healthcare. Imagine that there is a traveler from the US in Germany. His luggage is stolen and so are his medicines. He needs a prescription refill. But, that cannot happen till the local doctor gives him a prescription. But, the new doctor may not be aware of all the conditions the patient is suffering from. So, how will he give a safe prescription? Such predicaments can be completely resolved when the Ethereum platform is used to store patient data. Hospitals will be able to save their patient records and share it will the world. So, the traveler can go into any hospital in the world, and the docto Continue reading >>

What Are Ethereum's Real-world Use Cases?

What Are Ethereum's Real-world Use Cases?

What are Ethereum's real-world use cases? So Ethereum has a plethora of real-world use cases! Anything that can benefit from trustless interactions is a good place to start. So specifically from an organisational perspective: If you'd like to have a look at some companies already building on top of Ethereum, check out: Airlock - a IoT (Internet of Things) company implementing a decentralised generalist locking system. CubeSpawn - a FMS (flexible manufacturing system) offering big factory automation to small shops. Crypto Swartz - A tag-based backend reputation system for online content. Also IBM/Samsung's Adept (Internet of Things) is a fork of an early Ethereum Proof of Concept release. Is this answer still relevant and up to date? Heres an example within the insurance industry: Blockchain will change Insurance as we know it, the administrative burdens that the insurance industry has to deal with is both unproductive and uneconomical for both the insured and the insurer. Blockchain will drastically improve the efficiency and reliability of contract and service within the Insurance industry. Whether a person or a business, Insurers are required to verify the identity of those seeking insurance. This is to comply with anti-money laundering acts, regulatory acts and internal procedures to ensure that the person / business has an insurable interest. By using blockchain technology, an insurance company can verify the legal existence of a company via a smart contract that can be coded to search government official websites such as Companies House, which is the UK company registry. This can be instantly done on a global scale, and reduces this administrative task that humans currently do. This contract can also monitor these companies and automatically update their registere Continue reading >>

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