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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's Two Ethereums Explained - Coindesk

Ethereum's Two Ethereums Explained - Coindesk

What started as an attempt to rescue investor funds in a high-profile project has resulted in a schism that has effectively split the community on the second-largest public blockchain. The split is not only psychological. Thanks to the design of public blockchain systems, it is also technical, with competing visions manifesting in two very real blockchains, or versions of the projects transaction history. As of this weekend, there are now two groups working on two competing versions of a project called ethereum , a blockchain-based platform designed to enable decentralized application development. If bitcoin envisioned how a distributed group of users could create and manage a currency, ethereum sought to allow a distributed group of users to create and manage a decentralized, uncensorable app store. (You can learn more in our latest CoinDesk Research report). However, there are now two slightly different versions of this platform available to users ethereum, the 'official' version of the blockchain maintained by its original developers, and ethereum classic, an 'alternative' blockchain maintained by a wholly new team . Both offer the same technology platforms, and according to developers, they're in agreement on a formal roadmap for steps forward. But, the small differences have created two markets, both with a combined value of roughly $1.2bn . Long the most notable ethereum project, The DAO, short for distributed autonomous organization, raised $150m in ether the cryptocurrency of the ethereum network earlier this year during a public crowdsale. Held online, anyone who had ether could participate. The idea was simple, in theory. Investors would send money to The DAO and receive voting tokens, and then those who invested (and voted) would decide democratically how Th Continue reading >>

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