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Ethereum Use Cases

Use Cases Of Ethereum In Different Sectors 2016

Use Cases Of Ethereum In Different Sectors 2016

Use Cases Of Ethereum In Different Sectors 2016 A recap of Ethereum-based projects in different industries that are showing the most growth. 2016 has been a productive year for blockchain technology research as a whole. Increased interest in blockchain tech has kick-started a number of blockchain applications in industries worldwide. A recent market research report estimates the global blockchain tech market will grow from USD 210.2 million in 2016 to USD 2.3 billion by 2021. This is a Compound Annual Growth Rate (CAGR) of 61.5 percent. This is phenomenal growth for a five year period - especially for a technology thats still in its infancy. However, it isnt just the blockchain thats turning heads. Smart contracts are a supplement to the Ethereum technology that could potentially breed further innovation. These smart contracts automate many tasks that would otherwise require multiple intermediaries. This allows for less oversight and trust agents. The smart contract technology has made Ethereum an innovative platform that can revolutionize varying industries. Ether, the currency fueling Ethereums functions, currently rests as the second most valuable cryptocurrency, with a market capitalization of (at the time of this writing) $726,860,876 . Yet, the question remains: What new ideas will swing Ethereum into mainstream use? Financial Services and Prediction Markets The financial services sector is expected to expand rapidly. Platforms like Branche plan to disrupt the financial service industry by offering Ethereum-based blockchain solutions to basic financial services like Microcredit and check cashing. Additionally, investors have the option to use ICONOMI , a decentralized platform that seeks to provide investors with financial instruments that will return high profit Continue reading >>

A Current List Of Use Cases Forethereum

A Current List Of Use Cases Forethereum

The last time Hackerfall tried to access this page, it returned a not found error. A cached version of the page is below, or click here to continue anyway A Current List of Use Cases for Ethereum Around The Block Medium People often ask me, What is Ethereum used for? What does it do? Even for those who understand blockchains , Ethereum , and smart contracts , pointing to specific use cases can sometimes be surprisingly difficult. So lets explore. The purpose of this guide is to act as a reference point for new members of the community who can sometimes become overwhelmed by the current disorganized nature of news flow. The themes in the following apps are trust minimization/elimination, diversity, and disruption. As you read, keep in mind how transaction fees for reputation/trust are removed by simply cutting out the middleman entirely, and how established business models across a wide variety of industries are threatened. Keep in mind, however, many of these apps are incredibly early stage, and its hard to know which ones will take off and which ones will fail. The primary use case of Bitcoin also applies to the Ethereum network. There is much debate about Ether being used as a currency or store of value, but for the time being, Ether can be and is actively being used to transfer value. Payments are validated by a network of nodes/miners and logged onto the immutable ledger, just like the Bitcoin blockchain. The team at Digix has engineered a method for anyone to buy gold in tokenized form on the Ethereum blockchain. Ask yourself, how easily (and inexpensively) can you buy, say, $500 worth of gold right now? With Digix, you can convert your fiat (or Ether) immediately into gold tokens that are cryptographically linked to and backed by the Singaporean gold vault. At an Continue reading >>

I Was Wrong About Ethereum Because Its Such A Good Store Of Value No Wait, Let Me Tryagain.

I Was Wrong About Ethereum Because Its Such A Good Store Of Value No Wait, Let Me Tryagain.

Crypto OG. Talks about Bitcoin and sometimes other cryptocurrencies. I was wrong about Ethereum because its such a good store of value no wait, let me tryagain. I was wrong about Ethereum because its such a decentra nope. I was wrong about Ethereum because everyone is using it as a supercomputer No. I do admit I didnt see this Ethereum bubblecoming But, then again I wrongly assumed that no startup would need or even dare to ask $50 million in funding. I also wrongly assumed that people would use common sense and that leading developers would speak out against this sort of practice. Quite the opposite it seems. Ethereums sole use case at the moment is ICOs and token creation. Greed from speculators, investors and developers. So lets think for a minute and think what determines the price? Supply + demand. Pretty straightforward. The tokens that are available on the market, right? But with every ICO there are more tokens that are being locked up. Obviously the projects will liquidate some, to get fiat to pay for development of their project, but they also see the rising price of Ethereum. So at that point greed takes over and they think, totally understandable, We should probably just cash out what we really need and keep the rest in ETH, thats only going up anyway it seems. And obviously there are new coins being mined, but if you look at the amount of ETH these ICOs raise, at this point, its just a drop in a bucket. You have the normal investors (who are already very late to the game at this point as usual), but the buy pressure that these ICOs are creating is crazy and scary. Take TenX for example, its an upcoming ICO at the end of the month. The cap is 200,000 ETH (at current ETH price of $370) thats $74,000,000 for a startup. Heres the best part: its only 51% of the Continue reading >>

One Of The Best Use Cases For Ethereum Blockchain Have Been Already Around Us For A While... - Ethtrader

One Of The Best Use Cases For Ethereum Blockchain Have Been Already Around Us For A While... - Ethtrader

One of the best use cases for Ethereum Blockchain have been already around us for a while... Well the first time I was trying to find out how to trade stocks I was very dissapointed about the platforms that were online for investing, I remember using demo-trading modes to understand how stocks were working only to find that it was going to be so hard to make money with little investment and knowing little about CFDs. Not to mention that all information in those places were very technicall and they absolutely were made for people that knew what to do. I also remember writing down the prices I "mentally" bought in and checking days later to see how much I would have made with my non-existant investment, still have that excel file somewhere tho... Today ethereum is one step ahead of wallstreet because it found a way to tokenize real services/shares/senority and to guarantee the real owning of these services without the need of any third party, not to mention about the immutability, security and decentralization of the service provided also by ethereum network. I believe decentralized exchanges and ethereum network scaling in the future, will be the evolution of stocks trading, every share or CFD will be converted to a token, I really believe in no matter of time there will be an "Apple" token a "Facebook" token and every real company will start to create their own ERC20 Tokens in the ethereum network in order to represent their real shares. Of course this will need of some kind of regulation in order to meet the government reqs for trading stocks, but for real, I can't see this happening other way, we are already trading tokens that are looking more atractive than CFDS. What are your toughts? Do you believe CFDS will be tokenized in the future? I believe it will be this w 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 >>

Smart Contracts: Industry Examples And Use Cases For Business

Smart Contracts: Industry Examples And Use Cases For Business

In this article, you will learn how you can apply smart contracts and blockchain technology in your industry to secure and speed up your business operations. Well also consider the benefits of the Blockchain technology, give industry examples and review the use cases of smart contract development services. Modern technologies change our lives in many ways. Some of them provide us with new possibilities and allow to optimize the existing technological processes. Nowadays, no one is surprised by robotic assembly machines that can implement the routine operations and tasks in order to optimize production. One more interesting aspect of the cutting-edge technologies is the possibility to change the very concept of such fundamental parts of our lives as money and commodity-money relations. If you have not been in a state of informational deprivation through recent years, you probably heard about bitcoin. We wont bother you with reflections on pros and cons of this phenomenon. Mass media have already done it for us. Instead of that, well consider the blockchain technology, a shared public ledger on which the bitcoin network relies. It has many use cases. One of them, which will be also discussed, is a protocol that intended to simplify the process of the negotiation and performance of contracts called smart contract. Before answering the question how to use blockchain technology, lets check if it can represent any interest for those who dont even use bitcoins. Imagine that you want to send 100$ as payment for the provision of goods or services to a company from another country. You have to fill dozens of fields in a form. After that, a bank employee should transfer money from your account to another account in a bank for international transfers. Then, another bank employee c Continue reading >>

These Are The 5 Best Use Cases Of Ethereum Smart Contracts

These Are The 5 Best Use Cases Of Ethereum Smart Contracts

These Are The 5 Best Use Cases Of Ethereum Smart Contracts By: Sudhir Khatwani In: Ethereum Last Updated: Ethereum is considered to be the second generation of the blockchain.Wondering what the 1st generation is? Well, it is Bitcoin , but that has limited scripting abilities. Hence, to make smart contracts in a way that can be done on the Ethereum blockchain is impossible on the Bitcoin blockchain. That is why Vitalik Buterin, the founder of Ethereum, thought of a blockchain like Ethereum that has advanced scripting abilities such as turning completeness along with smart contracts. And particularly due to this ability of the Ethereum blockchain, many use cases of Ethereum smart contracts are possible in todays world. However, I am not ignorant of the scaling problems that Ethereum is facing but it still makes sense in talking about the use cases of Ethereum smart contracts because it is very well on its way to scale with Sharding . 5 Ultra Useful use cases of Ethereum SmartContracts: 1. Banking & Financial Services Contracts Ethereum smart contracts havemany smart use cases for the banking and finance sector. Smart contracts can be applied to areas such as in mortgages, national bonds, payments and settlements, and Insurance claims etc. For example, let assume that a person fails to pay x number of EMIs consecutively without any notice to the bank. In such a scenario, instead of a foreclosure, a full-length smart contract can be written which will enforce the rules and conditions. Or let us say there is a government bond that is about to mature which and if written and maintained with smart contracts, will disburse the maturity amount to the bearer upon maturity. Isnt that an incredible application of smart contracts! Ethereum smart contracts can make the whole process Continue reading >>

3 Ethereum Smart Contract Use Cases

3 Ethereum Smart Contract Use Cases

This article was originally posted on MyCryptopedia - a trusted educational website created by two UK university students, and founded on their passion for cryptocurrency and blockchain technology. Ethereum smart contracts are a key component of any Initial Coin Offering ( ICO ) created on the Ethereum platform. Their self-executing nature allow for the terms of any agreement between two parties to be enforced in a trustless manner. A key advantage of this setup is the elimination of a middle man. Because of this, smart contracts are usually the tool of choice when it comes to blockchain development. Even though smart contracts have been around prior to the release of the Ethereum protocol, they have often lacked enough functionality to make them useful. One notable example is Script in Bitcoin . Script is a scripting language that is used in the Bitcoin protocol for transaction processing. Script is not Turing-complete and is therefore limited in terms of use cases. Ethereum smart contracts on the other hand, are Turing-complete, and therefore offer a wide variety of use cases. In this article I will cover what some of those uses cases are, the very first being general purpose contracts. General purpose contracts are straightforward in nature and can range from legal contracts to loan contracts. These contracts usually have a defined set of requirements that must be met in order to be valid, however, they require the presence of a middleman to check that such requirements have been met. Smart contracts can therefore be easily implemented to replace a middleman, as the requirements can be checked algorithmically. For example, consider a scenario in which a house is being purchased. This process would require various intermediaries such as lawyers and estate agents who Continue reading >>

Popular Use Cases Of Blockchain Technology You Need Toknow

Popular Use Cases Of Blockchain Technology You Need Toknow

Popular Use Cases of Blockchain Technology You Need toKnow I am the Blockchain! I am invincible because I replicate myself on multiple computers. Yea like the Ultron. You cannot corrupt me. Though Bitcoin and Ethereum were my first applications. My true power is yet to be unleashed. Let me start with identity cards, badges, and things. Fancy designs can be replicated. You know about 3D printers right? How do you verify them? Some organisations provide online verification service. You can scan the card or punch in the number and verify if its authentic. But, this can be costly, you need to pay for the cloud. With Blockchain you dont have to build your own identity infrastructure, you can use Ethereums open Blockchain to store the identity details. Anyone who wants to verify just has to query the open Blockchain. Most of your ownership records are stored in paper ledgers. These can be tampered. The data on Blockchain cannot be altered. On a Blockchain there are two things. A block and a chain. At a very high level, it is just a chain of blocks. Since its inside computers, we can rule out the physical stuff. Here digital information is divided into blocks and linked together. For example consider the following blocks, each represent a country. Each of them contains the city names of the respective country. Wait, there is something more. Each of these blocks has something called a hash. A hash is a set of characters (eg. 1hi515AHA5H ). Hash is derived from the information contained in the block. The block of U.S.A has cities New York, Los Angeles, and Chicago. So the hash would be something like NYLAC (Technically thats not the case, but you get the idea). Every successive block will contain the previous blocks hash. This is what binds them together (The force). If someone 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 >>

Sending Bitcoin To Expired Address Ethereum Use Cases

Sending Bitcoin To Expired Address Ethereum Use Cases

Sending Bitcoin To Expired Address Ethereum Use Cases For example, a bank could proactively watch a blockchain and perform money transfers which mirror the on-chain transactions. So glad you have your bitcoins back! When you first open a trade with somebody using localethereum. Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top. From an investor's perspective, the whole point of a bond is its attractive rate of return, at the cost of some risk of default. A month ago I posted a public question on their support thing asking them adding in an address book, and got a friendly reply that they would pass it on. Until there is a better convention for sending to frequent addresses I don't think first bits is safe, at least not for sending BTC. The pool promises you to pick up your transaction, no matter how low the fee is in exchange for. Similarly, for data hidden in smart contracts, all it takes is for How Can I Send Litecoin In Coinbase Best Way To Backtest Cryptocurrency Trading Strategy to modify their blockchain software to display the contract's full state, and all semblance of secrecy is lost. In the reference client, set Btc Best Mining Software For Windows How To Mine The Most Profitable Coin -walletrbf option to true. And if those funds aren't under the control of the smart contract, then there is no way in which payment can be guaranteed. If the funds used Sending Bitcoin To Expired Address Ethereum Use Cases coupon payments are controlled by the bond's smart contract, then those payments can indeed be guaranteed. Then when you think about it, there's also How To Deposit Money In Binance Cosmos Crypto of real physical money that gets stored away by people for savings and end up dying, leaving the money undiscovered for Continue reading >>

45 Blockchain Use Cases Andethereum

45 Blockchain Use Cases Andethereum

Founder @blocknubie Small in stature with Big Ideas The blockchain start-ups that have done ICOs are just at the beginning of something. Ask me how they are doing in a year or two years from now. I know for a fact it wont be any different from the statistics of all start-ups: 80% of them will not make it William Mougayar Blockchain is a nascent technology, ripe with ongoing innovations and the accelerated growth of new related-technologies continue to emerge. However we need to consider that the future of mainstream blockchain technology will rely on decreasing the startup failure rate and providing a protocol process to do so. With the emergence of Bitcoin and other blockchains, it became feasible to reconsider a solution realized in a decentralized manner, where one that does not require a central party trusted to keep all the data secure and accessible. The blockchain technology is one of the most promising upcoming technological trends in the information technology domain. It enables a ledger that can be accessed by parties involved in the transaction and can act as the universal irrefutable depository of all transactions between the involved parties. The numerous benefits involved have already attracted the attention and hence, investments as well as many technological giants. Not only does the technology hold the ability to disrupt the way the financial sector often works but will also have ramifications on many other industries including consumer goods, technology, and media & telecom, among others. Negligible fees for transaction in blockchain distributed ledger applications, elimination of third parties in business deals, and less chances of fraud and identity theft are the key drivers for the growth of global blockchain distributed ledger market. Moreover, in Continue reading >>

What Are The Applications And Use Cases Of Blockchains?

What Are The Applications And Use Cases Of Blockchains?

What Are the Applications and Use Cases of Blockchains? Blockchain technology is a revolution in systems of record. Bitcoin is historys first permanent, decentralized, global, trustless ledger of records. Since its invention, entrepreneurs in industries around the world have come to understand the implications of this development. The nature of blockchain technology has got imaginations running wild, because the idea can now be applied to any need for a trustworthy record. It is also putting the full power of cryptography in the hands of individuals, stoppingdigital relationships from requiring a transaction authority for what are considered pull transactions. For sure, there is also a lot of hype. This hype is perhaps the result of how easy it is to dream up a high-level use case for the application of blockchain technology. It has been described as magic beans by several of the industrys brightest minds. There is more on how to test whether blockchain technology is appropriate for a use case or not in ourguide "Why Use a Blockchain?" . For now, we turn to a discussion of the development of blockchain technology for how it could be useful. Cryptographic keys in the hands of individuals allow for new ownership rights and a basis to form interesting digital relationships. As weve discussed in our guides "What is Blockchain Technology?" , "How Does Blockchain Technology Work?" and "What Can a Blockchain Do?" , blockchains provide an opportunity to establish a strong system for digital identity. Because it is not based on accounts and permissions associated with accounts, because it is a push transaction, and because ownership of private keys is ownership of the digital asset, this places a new and secure way to manage identity in the digital world that avoids exposing us Continue reading >>

6 Use Cases For The Request Network (req)

6 Use Cases For The Request Network (req)

6 use cases for the Request Network (REQ) Usecase 1 : Invoicing and Online payments with the RequestNetwork Each year there are billions of invoices that are shared between companies, most of these invoices are still send in paper and email form at which have to be copied. Obviously, this results in a large number of errors,especially when tax rules or advanced payment are applied. With the Request Network, invoices can be shared directly via the ledger, there will be no more duplications because accounting systems will be plugged in and updated immediately. The company awaiting payment will be able to detect a delay immediately, which will happen less often due to the development of invoice payment systems. The company has the ability to pay on the optimal date at the time of receiving the request. Each year, thousands of small and medium-sized enterprises (SMEs) bankrupt while waiting for their invoices to be paid. The ECB (European Central Bank), in particular, is setting up solutions that Request complete by adding a payment reputation system and key indicators. Today, a provider still has to trust its client and might not be paid. Tomorrow, the provider will be able to verify the payers clients reputation and other indicators, such as DPO (Days Payable Outstanding) before agreeing to a contract. Usecase 1.1:Online paymentsFor example, shopping on Amazon requires payment by credit/debit card, thereby exposing sensitive information. Alternatively, selecting the option to pay via Request, the users data remain protected. Amazon will post a Request on the network, the users account will detect it and request a confirmation of payment from the user. This will trigger a transfer at the lowest cost, without exposing the payment information. It becomes possible to avoid u 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 >>

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