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Ethereum – Official Site

SECURITY WARNINGS

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 following Terms and Conditions (Terms) govern the use of the Ethereum open source software platform (Ethereum Platform). Prior to any use of the Ethereum Platform, the User confirms to understand and expressly agrees to all of the Terms. All capitalized terms in this agreement will be given the same effect and meaning as in the Terms. The group of developers and other personnel that is now, or will be, employed by, or contracted with, Stiftung Ethereum (Stiftung Ethereum) is termed the Ethereum Team. The Platform will be developed by persons and entities who support Ethereum, including both volunteers and developers who are paid by nonprofit entities interested in supporting the Ethereum Platform.

The user acknowledges the following serious risks to any use the Ethereum Platform and ETH and expressly agrees to neither hold Ethereum Stiftung nor the Ethereum Team liable should any of the following risks occur:

The Ethereum Platform and ETH could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of Stiftung Ethereum to continue to develop the Ethereum Platform, or which could impede or limit the ability of a User to use Ethereum Platform or ETH.

It is possible that alternative Ethereum-based networks could be established, which utilize the same open source source code and open source protocol underlying the Ethereum Platform. The Ethereum network may compete with these alternative Ethereum-based networks, which could potentially negatively impact the Ethereum Platform and ETH.

It is possible that the Ethereum Platform will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of the Ethereum Platform and potential uses of ETH. It cannot predict the success of its own development efforts or the efforts of other third parties.

The User recognizes that the Ethereum Platform is under development and may undergo significant changes before release. The User acknowledges that any expectations regarding the form and functionality of the Ethereum Platform held by the User may not be met upon release of the Ethereum Platform, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the Ethereum Platform.

The Ethereum Platform rests on open-source software, and there is a risk that the Ethereum Stiftung or the Ethereum Team, or other third parties not directly affiliated with the Stiftung Ethereum, may introduce weaknesses or bugs into the core infrastructural elements of the Ethereum Platform causing the system to lose ETH stored in one or more User accounts or other accounts or lose sums of other valued tokens issued on the Ethereum Platform.

Cryptography is an art, not a science. And the state of the art can advance over time. Advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the Ethereum Platform, which could result in the theft or loss of ETH. To the extent possible, Stiftung Ethereum intends to update the protocol underlying the Ethereum Platform to account for any advances in cryptography and to incorporate additional security measures, but it cannot predict the future of cryptography or guarantee that any security updates will be made in a timely or successful manner.

As with other cryptocurrencies, the blockchain used for the Ethereum Platform is susceptible to mining attacks, including but not limited to:

Any successful attacks present a risk to the Ethereum Platform, expected proper execution and sequencing of ETH transactions, and expected proper execution and sequencing of contract computations. Despite the efforts of the Ethereum Stiftung and Team, known or novel mining attacks may be successful.

If the Ethereum Platform is rapidly adopted, the demand for ETH could rise dramatically and at a pace that exceeds the rate with which ETH miners can create new ETH tokens. Under such a scenario, the entire Ethereum Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Ethereum Platform and ETH. Instability in the demand of for ETH may lead to a negative change of the economical parameters of an Ethereum based business which could result in the business being unable to continue to operate economically or to cease operation.

If the Ethereum Platform is rapidly adopted, the demand for transaction processing and distributed application computations could rise dramatically and at a pace that exceeds the rate with which ETH miners can bring online additional mining power. Under such a scenario, the entire Ethereum Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Ethereum Platform and ETH. Insufficiency of computational resources and an associated rise in the price of ETH could result in businesses being unable to acquire scarce computational resources to run their distributed applications. This would represent revenue losses to businesses or worst case, cause businesses to cease operations because such operations have become uneconomical due to distortions in the crypto-economy.

Acknowledgment, Acceptance of all Risks and Disclaimer of Warranties and LiabilitiesTHE USER EXPRESSLY KNOWS AND AGREES THAT THE USER IS USING THE Ethereum PLATFORM AT THE USERS SOLE RISK. THE USER REPRESENTS THAT THE USER HAS AN ADEQUATE UNDERSTANDING OF THE RISKS, USAGES AND INTRICACIES OF CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED OPEN SOURCE SOFTWARE, ETH PLATFORM AND ETH. 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, ETH OR THE Ethereum PLATFORM UNDER ANY CAUSE OF 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 NOR ETHEREUM TEAM SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA. 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 OR FRAUD OF Stiftung Ethereum.

We recommend any groups handling large or important transactions to maintain a voluntary 24 hour waiting period on any ether deposited. In case the integrity of the network is at risk due to issues in the clients, we will endeavor to publish patches in a timely fashion to address the issues. We will endeavour to provide solutions within the voluntary 24 hour waiting period.

All disputes or claims arising out of, relating to, or in connection with the Terms, the breach thereof, or use of the Ethereum Platform shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said Rules. All claims between the parties relating to these Terms that are capable of being resolved by arbitration, whether sounding in contract, tort, or otherwise, shall be submitted to ICC arbitration. Prior to commencing arbitration, the parties have a duty to negotiate in good faith and attempt to resolve their dispute in a manner other than by submission to ICC arbitration. The arbitration panel shall consist of one arbitrator only, unless the ICC Court of Arbitration determines that the dispute is such as to warrant three arbitrators. If the Court determines that one arbitrator is sufficient, then such arbitrator shall be Swiss resident. If the Court determines that three arbitrators are necessary, then each party shall have 30 days to nominate an arbitrator of its choice — in the case of the Claimant, measured from receipt of notification of the ICC Courts decision to have three arbitrators; in the case of Respondent, measured from receipt of notification of Claimants nomination. All nominations must be Swiss resident. If a party fails to nominate an arbitrator, the Court will do so. The Court shall also appoint the chairman. All arbitrators shall be and remain independent of the parties involved in the arbitration. The place of arbitration shall be Zug, Switzerland. The language of the arbitration shall be English. In deciding the merits of the dispute, the tribunal shall apply the laws of Switzerland and any discovery shall be limited and shall not involve any depositions or any other examinations outside of a formal hearing. The tribunal shall not assume the powers of amiable compositeur or decide the case ex aequo et bono. In the final award, the tribunal shall fix the costs of the arbitration and decide which of the parties shall bear such costs in what proportion. Every award shall be binding on the parties. The parties undertake to carry out the award without delay and waive their right to any form of recourse against the award in so far as such waiver can validly be made.

Stiftung Ethereum is finally not liable for:

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Ethereum – Official Site

Ethereum – Wikipedia

blockchain platform with programmable transactions

The Ethereum Project’s logo, first used in 2014

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions.

Ether is a token whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.[3] Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.[4] The virtual machine’s instruction set, in contrast to others like Bitcoin Script, is thought to be Turing-complete. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.[4]

Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014.[4]

In 2016, as a result of the exploitation of a flaw in The DAO project’s smart contract software, and subsequent theft of $50 million worth of ether,[5] Ethereum was split into two separate blockchains the new separate version became Ethereum (ETH) with the theft reversed,[6] and the original continued as Ethereum Classic (ETC).[7][8]

Vitalik Buterin picked the name Ethereum after browsing Wikipedia articles about elements and science fiction, when he found the name, noting, “I immediately realized that I liked it better than all of the other alternatives that I had seen; I suppose it was the fact that sounded nice and it had the word ‘ether’, referring to the hypothetical invisible medium that permeates the universe and allows light to travel.”[9]

Ethereum was initially described in a white paper by Vitalik Buterin,[10] a programmer involved with Bitcoin Magazine, in late 2013 with a goal of building decentralized applications.[11][12] Buterin had argued that Bitcoin needed a scripting language for application development. Failing to gain agreement, he proposed development of a new platform with a more general scripting language.[4]:88

Ethereum was announced at the North American Bitcoin Conference in Miami, in January, 2014.[9] During the same time as the conference, a group of people rented a house in Miami Gavin Wood, Charles Hoskinson, and Anthony Di Iorio, a Torontonian who financed the project.[9] Di Iorio invited friend Joseph Lubin, who invited reporter Morgen Peck, to bear witness.[9] Six months later the founders met again in a house in Zug Switzerland, where Buterin told the founders that the project would proceed as a non-profit. Hoskinson left the project at that time.[9]

Ethereum was officially with an unusually long list of founders. Anthony Di Iorio wrote “Ethereum was founded by Vitalik Buterin, Myself, Charles Hoskinson, Mihai Alisie, & Amir Chetrit (the initial 5) in December 2013. Joseph Lubin, Gavin Wood, & Jeffrey Wilke were added in early 2014 as founders.” Formal development of the Ethereum software project began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse).[13][14]The basic idea of putting executable smart contracts in the blockchain needed to be specified before the software could be implemented; this work was done by Gavin Wood, then chief technology officer, in the Ethereum Yellow Paper that specified the Ethereum Virtual Machine.[15][16]Subsequently, a Swiss non-profit foundation, the Ethereum Foundation (Stiftung Ethereum), was created as well. Development was funded by an online public crowdsale during JulyAugust 2014, with the participants buying the Ethereum value token (ether) with another digital currency, bitcoin.

While there was early praise for the technical innovations of Ethereum, questions were also raised about its security and scalability.[11]

In March 2017, various blockchain start-ups, research groups, and Fortune 500 companies announced the creation of the Enterprise Ethereum Alliance (EEA) with 30 founding members.[17] By May, the nonprofit organization had 116 enterprise membersincluding ConsenSys, CME Group, Cornell University’s research group, Toyota Research Institute, Samsung SDS, Microsoft, Intel, J. P. Morgan, Cooley LLP, Merck KGaA, DTCC, Deloitte, Accenture, Banco Santander, BNY Mellon, ING, and National Bank of Canada.[18][19][20] By July 2017, there were over 150 members in the alliance, including recent additions MasterCard, Cisco Systems, Sberbank and Scotiabank.[21][22]

Legend:

Old version

Older version, still supported

Latest version

Latest preview version

Future release

Several codenamed prototypes of the Ethereum platform were developed by the Foundation, as part of their Proof-of-Concept series, prior to the official launch of the Frontier network. “Olympic” was the last of these prototypes, and public beta pre-release.

The Olympic network provided users with a bug bounty of 25,000 ether for stress testing the limits of the Ethereum blockchain. “Frontier” marked the tentative experimental release of the Ethereum platform in July 2015.[23]

Since the initial launch, Ethereum has undergone several planned protocol upgrades, which are important changes affecting the underlying functionality and/or incentive structures of the platform.

[24][25]

Protocol upgrades are accomplished by means of a soft fork of the open source code base.

“Homestead” was the first to be considered stable. It included improvements to transaction processing, gas pricing, and security; and the soft fork[citation needed] occurred on 31 July 2015.[4]:87

The “Metropolis Part 1: Byzantium” soft[citation needed] fork took effect on 16 October 2017, and included changes to reduce the complexity of the EVM and provide more flexibility for smart contract developers.[25] Byzantium also added supports for zk-SNARKs (from Zcash), with the first zk-SNARK transaction occurring on testnet on September 19, 2017.[citation needed]

The “Metropolis Part 2: Constantinople” hard fork, and the simultaneous “St. Petersburg” network upgrade, occurred at block number 7,280,000 on February 28, 2019.[26]

In 2016 a decentralized autonomous organization called The DAO, a set of smart contracts developed on the platform, raised a record US$150 million in a crowdsale to fund the project.[27] The DAO was exploited in June when US$50 million in ether were taken by an unknown hacker.[28][29] The event sparked a debate in the crypto-community about whether Ethereum should perform a contentious “hard fork” to reappropriate the affected funds.[30] As a result of the dispute, the network split in two. Ethereum (the subject of this article) continued on the forked blockchain, while Ethereum Classic continued on the original blockchain.[31] The hard fork created a rivalry between the two networks.

After the hard fork related to The DAO, Ethereum subsequently forked twice in the fourth quarter of 2016 to deal with other attacks. By the end of November 2016, Ethereum had increased its DDoS protection, de-bloated the blockchain, and thwarted further spam attacks by hackers.

As with other cryptocurrencies, the validity of each ether is provided by a blockchain, which is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[32][33] By design, the blockchain is inherently resistant to modification of the data. It is an open, distributed ledger that records transactions between two parties efficiently and in a verifiable and permanent way.[34] Unlike Bitcoin, Ethereum operates using accounts and balances in a manner called state transitions. This does not rely upon unspent transaction outputs (UTXOs). State denotes the current balances of all accounts and extra data. State is not stored on the blockchain, it is stored in a separate Merkle Patricia tree. A cryptocurrency wallet stores the public and private “keys” or “addresses” which can be used to receive or spend ether. These can be generated through BIP 39 style mnemonics for a BIP 32 “HD Wallet”. In Ethereum, this is unnecessary as it does not operate in a UTXO scheme. With the private key, it is possible to write in the blockchain, effectively making an ether transaction.

To send ether to an account, you need the Keccak-256 hash of the public key of that account. Ether accounts are pseudonymous in that they are not linked to individual persons, but rather to one or more specific addresses.

Ether is a fundamental token for operation of Ethereum, which thereby provides a public distributed ledger for transactions. It is used to pay for gas, a unit of computation used in transactions and other state transitions. Mistakenly, this currency is also referred to as Ethereum.

It is listed under the ticker symbol ETH and traded on cryptocurrency exchanges, and the Greek uppercase Xi character () is generally used for its currency symbol. It is also used to pay for transaction fees and computational services on the Ethereum network.[35]

Ethereum addresses are composed of the prefix “0x”, a common identifier for hexadecimal, concatenated with the rightmost 20 bytes of the Keccak-256 hash (big endian) of the ECDSA public key. In hexadecimal, 2 digits represents a byte, meaning addresses contain 40 hexadecimal digits. An example of an Ethereum address is 0xb794F5eA0ba39494cE839613fffBA74279579268. Contract addresses are in the same format, however they are determined by sender and creation transaction nonce.[36] User accounts are indistinguishable from contract accounts given only an address for each and no blockchain data. Any valid Keccak-256 hash put into the described format is valid, even if it does not correspond to an account with a private key or a contract. This is unlike Bitcoin, which uses base58check to ensure that addresses are properly typed.

Ethereum is different from Bitcoin (the cryptocurrency with the largest market capitalization as of June 2018) in several aspects:

The total supply of ether was 100 million as of June 2018. In 2017, mining generated 9.2 million new ether, corresponding to a 10% increase in its total supply. Casper FFG and CBC are expected to reduce the inflation rate to between 0.5% to 2%. There is no currently implemented hard cap on the total supply of ETH.[citation needed]

Ether can be traded by regular currency brokers, cryptocurrency exchanges, as well as many online cryptocurrency wallets.[37]

The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in Ethereum. It is a 256-bit register stack, designed to run the same code exactly as intended. It is the fundamental consensus mechanism for Ethereum. The formal definition of the EVM is specified in the Ethereum Yellow Paper.[36][38] On February 1, 2018, there were 27,500 nodes in the main Ethereum network.[39] Ethereum Virtual Machines have been implemented in C++, Go, Haskell, Java, JavaScript, Python, Ruby, Rust, Elixir and WebAssembly (currently under development).

Ethereum’s smart contracts are based on different computer languages, which developers use to program their own functionalities. Smart contracts are high-level programming abstractions that are compiled down to EVM bytecode and deployed to the Ethereum blockchain for execution. They can be written in Solidity (a language library with similarities to C and JavaScript), Serpent (similar to Python, but deprecated), LLL (a low-level Lisp-like language), and Mutan (Go-based, but deprecated). There is also a research-oriented language under development called Vyper (a strongly-typed Python-derived decidable language).

Smart contracts can be public, which opens up the possibility to prove functionality, e.g. self-contained provably fair casinos.[40]

One issue related to using smart contracts on a public blockchain is that bugs, including security holes, are visible to all but cannot be fixed quickly.[41] One example of this is the 17 June 2016 attack on The DAO, which could not be quickly stopped or reversed.[28]

There is ongoing research on how to use formal verification to express and prove non-trivial properties. A Microsoft Research report noted that writing solid smart contracts can be extremely difficult in practice, using The DAO hack to illustrate this problem. The report discussed tools that Microsoft had developed for verifying contracts, and noted that a large-scale analysis of published contracts is likely to uncover widespread vulnerabilities. The report also stated that it is possible to verify the equivalence of a Solidity program and the EVM code.[42]

Ethereum is written in Turing complete language, which currently includes seven different programming languages.[43] Developers use the language to create and publish applications which they know will run inside Ethereum.[44][45] It’s a cumbersome system, but that’s not deterring developers from writing Ethereum programs.[46]

Ethereum blockchain applications are usually referred to as DApps (decentralized application), since they are based on the decentralized Ethereum Virtual Machine, and its smart contracts.[47] Many uses have been proposed for Ethereum platform, including ones that are impossible or unfeasible.[48][35] Use case proposals have included finance, the internet-of-things, farm-to-table produce, electricity sourcing and pricing, and sports betting. Ethereum is (as of 2017) the leading blockchain platform for initial coin offering projects, with over 50% market share.

As of January 2018, there are more than 250 live DApps, with hundreds more under development. Some application examples include: digital signature algorithms, securitized tokens, digital rights management, crowdfunding, prediction markets, remittance, online gambling, social media platforms, financial exchanges and identity systems.

Ethereum-based customized software and networks, independent from the public Ethereum chain, are being tested by enterprise software companies.[49] Interested parties include Microsoft, IBM, JPMorgan Chase,[35][50] Deloitte,[51] R3,[52] Innovate UK (cross-border payments prototype).[53] Barclays, UBS and Credit Suisse are experimenting with Ethereum blockchain to automate Markets in Financial Instruments Directive (MiFID) II requirements.

Ethereum-based permissioned blockchain variants are used and being investigated for various projects.

In Ethereum all smart contracts are stored publicly on every node of the blockchain, which has costs.[58] Being a blockchain means it issecure by designand is an example of a distributed computing system with highByzantine fault tolerance. The downside is that performance issues arise in that every node is calculating all the smart contracts in real time, resulting in lower speeds.[58] As of January 2016, the Ethereum protocol could process about 25 transactions per second.[58] In comparison, the Visa payment platform processes 45,000 payments per second leading some to question the scalability of Ethereum.[59] On 19 December 2016, Ethereum exceeded one million transactions in a single day for the first time.[60]

Ethereum’s blockchain uses Merkle trees, for security reasons, to improve scalability, and to optimize transaction hashing.[64] As with any Merkle tree implementation, it allows for storage savings, set membership proofs (called “Merkle proofs”), and light client synchronization. The Ethereum network has at times faced congestion problems, for example, congestion occurred during late 2017 in relation to Cryptokitties.[65]

On Social Governance

Our governance is inherently social, people who are more connected in the community have more power, a kind of soft power.

Vlad Zamfir, Ethereum Core Developer, “The New Yorker”[9]

In October 2015,[66] a development governance was proposed as Ethereum Improvement Proposal, aka EIP, standardized on EIP-1.[67] The core development group and community were to gain consensus by a process regulated EIP. A few notable decisions were made in the process of EIP, such as EIP-160 (EXP cost increase caused by Spurious Dragon Hardfork)[68] and EIP-20 (ERC-20 Token Standard).[69] In January 2018, the EIP process was finalized and published as EIP-1 status turned “active”.[66]

Izabella Kaminska, the editor of FT Alphaville, has pointed out that criminals are using Ethereum to run Ponzi schemes and other forms of investment fraud.[70] The article was based on a paper from the University of Cagliari, which placed the number of Ethereum smart contracts which facilitate Ponzi schemes at nearly 10% of 1384 smart contracts examined. However, it also estimated that only 0.05% of the transactions on the network were related to such contracts.[71]

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Ethereum – Wikipedia

What is Ethereum? The Most Comprehensive Beginners Guide

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Cryptocurrency News: This Week on Bitfinex, Tether, Coinbase, & More

Cryptocurrency News
On the whole, cryptocurrency prices are down from our previous report on cryptos, with the market slipping on news of an exchange being hacked and a report about Bitcoin manipulation.

However, there have been two bright spots: 1) an official from the U.S. Securities and Exchange Commission (SEC) said that Ethereum is not a security, and 2) Coinbase is expanding its selection of tokens.

Let’s start with the good news.
SEC Says ETH Is Not a Security
Investors have some reason to cheer this week. A high-ranking SEC official told attendees of the Yahoo! All Markets Summit: Crypto that Ethereum and Bitcoin are not.

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Cryptocurrency News: This Week on Bitfinex, Tether, Coinbase, & More

Cryptocurrency News: Vitalik Buterin Doesn’t Care About Bitcoin ETFs

Cryptocurrency News
While headline numbers look devastating this week, investors might take some solace in knowing that cryptocurrencies found their bottom at roughly $189.8 billion in market cap—that was the low point. Since then, investors put more than $20.0 billion back into the market.

During the rout, Ethereum broke below $300.00 and XRP fell below $0.30, marking yearly lows for both tokens. The same was true down the list of the top 100 biggest cryptos.

Altcoins took the brunt of the hit. BTC Dominance, which reveals how tightly investment is concentrated in Bitcoin, rose from 42.62% to 53.27% in just one month, showing that investors either fled altcoins at higher.

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Cryptocurrency News: Vitalik Buterin Doesn’t Care About Bitcoin ETFs

Cryptocurrency News: Bitcoin ETFs, Andreessen Horowitz, and Contradictions in Crypto

Cryptocurrency News
This was a bloody week for cryptocurrencies. Everything was covered in red, from Ethereum (ETH) on down to the Basic Attention Token (BAT).

Some investors claim it was inevitable. Others say that price manipulation is to blame.

We think the answers are more complicated than either side has to offer, because our research reveals deep contradictions between the price of cryptos and the underlying development of blockchain projects.

For instance, a leading venture capital (VC) firm launched a $300.0-million crypto investment fund, yet liquidity continues to dry up in crypto markets.

Another example is the U.S. Securities and Exchange Commission’s.

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Cryptocurrency News: Bitcoin ETFs, Andreessen Horowitz, and Contradictions in Crypto

Ethereum Project

SECURITY WARNINGS

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 following Terms and Conditions (Terms) govern the use of the Ethereum open source software platform (Ethereum Platform). Prior to any use of the Ethereum Platform, the User confirms to understand and expressly agrees to all of the Terms. All capitalized terms in this agreement will be given the same effect and meaning as in the Terms. The group of developers and other personnel that is now, or will be, employed by, or contracted with, Stiftung Ethereum (Stiftung Ethereum) is termed the Ethereum Team. The Platform will be developed by persons and entities who support Ethereum, including both volunteers and developers who are paid by nonprofit entities interested in supporting the Ethereum Platform.

The user acknowledges the following serious risks to any use the Ethereum Platform and ETH and expressly agrees to neither hold Ethereum Stiftung nor the Ethereum Team liable should any of the following risks occur:

The Ethereum Platform and ETH could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of Stiftung Ethereum to continue to develop the Ethereum Platform, or which could impede or limit the ability of a User to use Ethereum Platform or ETH.

It is possible that alternative Ethereum-based networks could be established, which utilize the same open source source code and open source protocol underlying the Ethereum Platform. The Ethereum network may compete with these alternative Ethereum-based networks, which could potentially negatively impact the Ethereum Platform and ETH.

It is possible that the Ethereum Platform will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of the Ethereum Platform and potential uses of ETH. It cannot predict the success of its own development efforts or the efforts of other third parties.

The User recognizes that the Ethereum Platform is under development and may undergo significant changes before release. The User acknowledges that any expectations regarding the form and functionality of the Ethereum Platform held by the User may not be met upon release of the Ethereum Platform, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the Ethereum Platform.

The Ethereum Platform rests on open-source software, and there is a risk that the Ethereum Stiftung or the Ethereum Team, or other third parties not directly affiliated with the Stiftung Ethereum, may introduce weaknesses or bugs into the core infrastructural elements of the Ethereum Platform causing the system to lose ETH stored in one or more User accounts or other accounts or lose sums of other valued tokens issued on the Ethereum Platform.

Cryptography is an art, not a science. And the state of the art can advance over time. Advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the Ethereum Platform, which could result in the theft or loss of ETH. To the extent possible, Stiftung Ethereum intends to update the protocol underlying the Ethereum Platform to account for any advances in cryptography and to incorporate additional security measures, but it cannot predict the future of cryptography or guarantee that any security updates will be made in a timely or successful manner.

As with other cryptocurrencies, the blockchain used for the Ethereum Platform is susceptible to mining attacks, including but not limited to:

Any successful attacks present a risk to the Ethereum Platform, expected proper execution and sequencing of ETH transactions, and expected proper execution and sequencing of contract computations. Despite the efforts of the Ethereum Stiftung and Team, known or novel mining attacks may be successful.

If the Ethereum Platform is rapidly adopted, the demand for ETH could rise dramatically and at a pace that exceeds the rate with which ETH miners can create new ETH tokens. Under such a scenario, the entire Ethereum Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Ethereum Platform and ETH. Instability in the demand of for ETH may lead to a negative change of the economical parameters of an Ethereum based business which could result in the business being unable to continue to operate economically or to cease operation.

If the Ethereum Platform is rapidly adopted, the demand for transaction processing and distributed application computations could rise dramatically and at a pace that exceeds the rate with which ETH miners can bring online additional mining power. Under such a scenario, the entire Ethereum Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Ethereum Platform and ETH. Insufficiency of computational resources and an associated rise in the price of ETH could result in businesses being unable to acquire scarce computational resources to run their distributed applications. This would represent revenue losses to businesses or worst case, cause businesses to cease operations because such operations have become uneconomical due to distortions in the crypto-economy.

Acknowledgment, Acceptance of all Risks and Disclaimer of Warranties and LiabilitiesTHE USER EXPRESSLY KNOWS AND AGREES THAT THE USER IS USING THE Ethereum PLATFORM AT THE USERS SOLE RISK. THE USER REPRESENTS THAT THE USER HAS AN ADEQUATE UNDERSTANDING OF THE RISKS, USAGES AND INTRICACIES OF CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED OPEN SOURCE SOFTWARE, ETH PLATFORM AND ETH. 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, ETH OR THE Ethereum PLATFORM UNDER ANY CAUSE OF 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 NOR ETHEREUM TEAM SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA. 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 OR FRAUD OF Stiftung Ethereum.

We recommend any groups handling large or important transactions to maintain a voluntary 24 hour waiting period on any ether deposited. In case the integrity of the network is at risk due to issues in the clients, we will endeavor to publish patches in a timely fashion to address the issues. We will endeavour to provide solutions within the voluntary 24 hour waiting period.

All disputes or claims arising out of, relating to, or in connection with the Terms, the breach thereof, or use of the Ethereum Platform shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said Rules. All claims between the parties relating to these Terms that are capable of being resolved by arbitration, whether sounding in contract, tort, or otherwise, shall be submitted to ICC arbitration. Prior to commencing arbitration, the parties have a duty to negotiate in good faith and attempt to resolve their dispute in a manner other than by submission to ICC arbitration. The arbitration panel shall consist of one arbitrator only, unless the ICC Court of Arbitration determines that the dispute is such as to warrant three arbitrators. If the Court determines that one arbitrator is sufficient, then such arbitrator shall be Swiss resident. If the Court determines that three arbitrators are necessary, then each party shall have 30 days to nominate an arbitrator of its choice — in the case of the Claimant, measured from receipt of notification of the ICC Courts decision to have three arbitrators; in the case of Respondent, measured from receipt of notification of Claimants nomination. All nominations must be Swiss resident. If a party fails to nominate an arbitrator, the Court will do so. The Court shall also appoint the chairman. All arbitrators shall be and remain independent of the parties involved in the arbitration. The place of arbitration shall be Zug, Switzerland. The language of the arbitration shall be English. In deciding the merits of the dispute, the tribunal shall apply the laws of Switzerland and any discovery shall be limited and shall not involve any depositions or any other examinations outside of a formal hearing. The tribunal shall not assume the powers of amiable compositeur or decide the case ex aequo et bono. In the final award, the tribunal shall fix the costs of the arbitration and decide which of the parties shall bear such costs in what proportion. Every award shall be binding on the parties. The parties undertake to carry out the award without delay and waive their right to any form of recourse against the award in so far as such waiver can validly be made.

Stiftung Ethereum is finally not liable for:

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Ethereum Project

Ethereum – Wikipedia

blockchain platform with programmable transactions

The Ethereum Project’s logo, first used in 2014

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions.

Ether is a token whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.[3] Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.[citation needed] The virtual machine’s instruction set, in contrast to others like Bitcoin Script, is thought to be Turing-complete. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.[citation needed]

Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014.[citation needed]

The system went live on 30 July 2015, with 72million coins “premined”. This accounts for about 70 percent of the total circulating supply in 2018.

In 2016, as a result of the exploitation of a flaw in The DAO project’s smart contract software, and subsequent theft of $50 million worth of Ether,[4] Ethereum was split into two separate blockchains the new separate version became Ethereum (ETH) with the theft reversed,[5] and the original continued as Ethereum Classic (ETC).[6][7]

The value of the Ethereum token grew over 13,000 percent in 2017, to over $1400.[8] By September 2018, it had fallen back to $200.[9]

Vitalik Buterin picked the name Ethereum after browsing Wikipedia articles about elements and science fiction, when he found the name, noting, “I immediately realized that I liked it better than all of the other alternatives that I had seen; I suppose it was the fact that sounded nice and it had the word ‘ether’, referring to the hypothetical invisible medium that permeates the universe and allows light to travel.”

Ethereum was initially described in a white paper by Vitalik Buterin,[10] a programmer involved with Bitcoin Magazine, in late 2013 with a goal of building decentralized applications.[11][12] Buterin had argued that Bitcoin needed a scripting language for application development. Failing to gain agreement, he proposed development of a new platform with a more general scripting language.[13]:88

Ethereum was officially announced in 2014., and had an unusually long list of founders. Anthony Di Iorio wrote “Ethereum was founded by Vitalik Buterin, Myself, Charles Hoskinson, Mihai Alisie, & Amir Chetrit (the initial 5) in December 2013. Joseph Lubin, Gavin Wood, & Jeffrey Wilke were added in early 2014 as founders.” Formal development of the Ethereum software project began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse).[14][15]The basic idea of putting executable smart contracts in the blockchain needed to be specified before the software could be implemented; this work was done by Gavin Wood, then chief technology officer, in the Ethereum Yellow Paper that specified the Ethereum Virtual Machine.[16][17]Subsequently, a Swiss non-profit foundation, the Ethereum Foundation (Stiftung Ethereum), was created as well. Development was funded by an online public crowdsale during JulyAugust 2014, with the participants buying the Ethereum value token (ether) with another digital currency, bitcoin.

While there was early praise for the technical innovations of Ethereum, questions were also raised about its security and scalability.[11]

In March 2017, various blockchain start-ups, research groups, and Fortune 500 companies announced the creation of the Enterprise Ethereum Alliance (EEA) with 30 founding members.[18] By May, the nonprofit organization had 116 enterprise membersincluding ConsenSys, CME Group, Cornell University’s research group, Toyota Research Institute, Samsung SDS, Microsoft, Intel, J. P. Morgan, Cooley LLP, Merck KGaA, DTCC, Deloitte, Accenture, Banco Santander, BNY Mellon, ING, and National Bank of Canada.[19][20][21] By July 2017, there were over 150 members in the alliance, including recent additions MasterCard, Cisco Systems, Sberbank and Scotiabank.[22][23]

Legend:

Old version

Older version, still supported

Latest version

Latest preview version

Future release

Several codenamed prototypes of the Ethereum platform were developed by the Foundation, as part of their Proof-of-Concept series, prior to the official launch of the Frontier network. “Olympic” was the last of these prototypes, and public beta pre-release.

The Olympic network provided users with a bug bounty of 25,000 ether for stress testing the limits of the Ethereum blockchain. “Frontier” marked the tentative experimental release of the Ethereum platform in July 2015.[24]

Since the initial launch, Ethereum has undergone several planned protocol upgrades, which are important changes affecting the underlying functionality and/or incentive structures of the platform.

[25][26]

Protocol upgrades are accomplished by means of a soft fork of the open source code base.

“Homestead” was the first to be considered stable. It included improvements to transaction processing, gas pricing, and security; and the soft fork[citation needed] occurred on 31 July 2015.[13]:87

The “Metropolis Part 1: Byzantium” soft[citation needed] fork took effect on 16 October 2017, and included changes to reduce the complexity of the EVM and provide more flexibility for smart contract developers.[26] Byzantium also added supports for zk-SNARKs (from Zcash), with the first zk-SNARK transaction occurring on testnet on September 19, 2017.[citation needed]

The “Metropolis Part 2: Constantinople” hard fork, and the simultaneous “St. Petersburg” network upgrade, occurred at block number 7,280,000 on February 28, 2019.[27]

In 2016 a decentralized autonomous organization called The DAO, a set of smart contracts developed on the platform, raised a record US$150 million in a crowdsale to fund the project.[28] The DAO was exploited in June when US$50 million in Ether were taken by an unknown hacker.[29][30] The event sparked a debate in the crypto-community about whether Ethereum should perform a contentious “hard fork” to reappropriate the affected funds.[31] As a result of the dispute, the network split in two. Ethereum (the subject of this article) continued on the forked blockchain, while Ethereum Classic continued on the original blockchain.[32] The hard fork created a rivalry between the two networks.

After the hard fork related to The DAO, Ethereum subsequently forked twice in the fourth quarter of 2016 to deal with other attacks. By the end of November 2016, Ethereum had increased its DDoS protection, de-bloated the blockchain, and thwarted further spam attacks by hackers.

Ether is a fundamental token for operation of Ethereum, which thereby provides a public distributed ledger for transactions. It is used to pay for gas, a unit of computation used in transactions and other state transitions. Mistakenly, this currency is also referred to as Ethereum.

It is listed under the code ETH and traded on cryptocurrency exchanges, and the Greek uppercase Xi character () is generally used for its currency symbol. It is also used to pay for transaction fees and computational services on the Ethereum network.[33]

As with other cryptocurrencies, the validity of each ether is provided by a blockchain, which is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[34][35] By design, the blockchain is inherently resistant to modification of the data. It is an open, distributed ledger that records transactions between two parties efficiently and in a verifiable and permanent way.[36] Unlike Bitcoin, Ethereum operates using accounts and balances in a manner called state transitions. This does not rely upon unspent transaction outputs (UTXOs). State denotes the current balances of all accounts and extra data. State is not stored on the blockchain, it is stored in a separate Merkle Patricia tree. A cryptocurrency wallet stores the public and private “keys” or “addresses” which can be used to receive or spend Ether. These can be generated through BIP 39 style mnemonics for a BIP 32 “HD Wallet”. In Ethereum, this is unnecessary as it does not operate in a UTXO scheme. With the private key, it is possible to write in the blockchain, effectively making an ether transaction.

To send ether to an account, you need the public key of that account. Ether accounts are pseudonymous in that they are not linked to individual persons, but rather to one or more specific addresses.

Owners can store these addresses in software, on paper and possibly in memory (“brain wallet”).

Ethereum addresses are composed of the prefix “0x”, a common identifier for hexadecimal, concatenated with the rightmost 20 bytes of the Keccak-256 hash (big endian) of the ECDSA public key. In hexadecimal, 2 digits represents a byte, meaning addresses contain 40 hexadecimal digits. One example is 0xb794F5eA0ba39494cE839613fffBA74279579268, the Poloniex ColdWallet. Contract addresses are in the same format, however they are determined by sender and creation transaction nonce.[37] User accounts are indistinguishable from contract accounts given only an address for each and no blockchain data. Any valid Keccak-256 hash put into the described format is valid, even if it does not correspond to an account with a private key or a contract. This is unlike Bitcoin, which uses base58check to ensure that addresses are properly typed.

Ether is different from Bitcoin (the cryptocurrency with the largest market capitalization as of June 2018) in several aspects:

The total supply of ether was 100 million as of June 2018. In 2017, mining generated 9.2 million new ether, corresponding to a 10% increase in its total supply. Casper FFG and CBC are expected to reduce the inflation rate to between 0.5% to 2%. There is no currently implemented hard cap on the total supply of ETH.

Ether can be traded by regular currency brokers, cryptocurrency exchanges, as well as many online cryptocurrency wallets.[38]

The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in Ethereum. It is a 256-bit register stack, designed to run the same code exactly as intended. It is the fundamental consensus mechanism for Ethereum. The formal definition of the EVM is specified in the Ethereum Yellow Paper.[37][39] On February 1, 2018, there were 27,500 nodes in the main Ethereum network.[40] Ethereum Virtual Machines have been implemented in C++, Go, Haskell, Java, JavaScript, Python, Ruby, Rust, Elixir and WebAssembly (currently under development).

Ethereum’s smart contracts are based on different computer languages, which developers use to program their own functionalities. Smart contracts are high-level programming abstractions that are compiled down to EVM bytecode and deployed to the Ethereum blockchain for execution. They can be written in Solidity (a language library with similarities to C and JavaScript), Serpent (similar to Python, but deprecated), LLL (a low-level Lisp-like language), and Mutan (Go-based, but deprecated). There is also a research-oriented language under development called Viper (a strongly-typed Python-derived decidable language).

Smart contracts can be public, which opens up the possibility to prove functionality, e.g. self-contained provably fair casinos.[41]

One issue related to using smart contracts on a public blockchain is that bugs, including security holes, are visible to all but cannot be fixed quickly.[42] One example of this is the 17 June 2016 attack on The DAO, which could not be quickly stopped or reversed.[29]

There is ongoing research on how to use formal verification to express and prove non-trivial properties. A Microsoft Research report noted that writing solid smart contracts can be extremely difficult in practice, using The DAO hack to illustrate this problem. The report discussed tools that Microsoft had developed for verifying contracts, and noted that a large-scale analysis of published contracts is likely to uncover widespread vulnerabilities. The report also stated that it is possible to verify the equivalence of a Solidity program and the EVM code.[43]

Ethereum is written in Turing complete language, which includes seven different programming languages.[44] Developers use the language to create and publish applications which they know will run inside Ethereum.[45][46] It’s a cumbersome system, but that’s not deterring developers from writing Ethereum programs.[47]

Ethereum blockchain applications are usually referred to as DApps (decentralized application), since they are based on the decentralized Ethereum Virtual Machine, and its smart contracts.[48] Many uses have been proposed for Ethereum platform, including ones that are impossible or unfeasible.[49][33] Use case proposals have included finance, the internet-of-things, farm-to-table produce, electricity sourcing and pricing, and sports betting. Ethereum is (as of 2017) the leading blockchain platform for initial coin offering projects, with over 50% market share.

As of January 2018, there are more than 250 live DApps, with hundreds more under development. Some application examples include: digital signature algorithms, securitized tokens, digital rights management, crowdfunding, prediction markets, remittance, online gambling, social media platforms, financial exchanges and identity systems.

Ethereum-based customized software and networks, independent from the public Ethereum chain, are being tested by enterprise software companies.[50] Interested parties include Microsoft, IBM, JPMorgan Chase,[33][51] Deloitte,[52] R3,[53] Innovate UK (cross-border payments prototype).[54] Barclays, UBS and Credit Suisse are experimenting with Ethereum blockchain to automate Markets in Financial Instruments Directive (MiFID) II requirements.

Ethereum-based permissioned blockchain variants are used and being investigated for various projects.

In Ethereum all smart contracts are stored publicly on every node of the blockchain, which has costs.[59] Being a blockchain means it issecure by designand is an example of a distributed computing system with highByzantine fault tolerance. The downside is that performance issues arise in that every node is calculating all the smart contracts in real time, resulting in lower speeds.[59] As of January 2016, the Ethereum protocol could process 25 transactions per second.[59] In comparison, the Visa payment platform processes 45,000 payments per second leading some to question the scalability of Ethereum.[60] On 19 December 2016, Ethereum exceeded one million transactions in a single day for the first time.[61]

Ethereum’s blockchain uses Merkle trees, for security reasons, to improve scalability, and to optimize transaction hashing.[65] As with any Merkle tree implementation, it allows for storage savings, set membership proofs (called “Merkle proofs”), and light client synchronization. The Ethereum network has at times faced congestion problems, for example, congestion occurred during late 2017 in relation to Cryptokitties.[66]

In October 2015,[67] a development governance was proposed as Ethereum Improvement Proposal, aka EIP, standardized on EIP-1.[68] The core development group and community were to gain consensus by a process regulated EIP. A few notable decisions were made in the process of EIP, such as EIP-160 (EXP cost increase caused by Spurious Dragon Hardfork)[69] and EIP-20 (ERC-20 Token Standard).[70] In January 2018, the EIP process was finalized and published as EIP-1 status turned “active”.[67]

Izabella Kaminska, the editor of FT Alphaville, has pointed out that criminals are using Ethereum to run Ponzi schemes and other forms of investment fraud.[71] The article was based on a paper from the University of Cagliari, which placed the number of Ethereum smart contracts which facilitate Ponzi schemes at nearly 10% of 1384 smart contracts examined. However, it also estimated that only 0.05% of the transactions on the network were related to such contracts.[72]

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Ethereum – Wikipedia

Ethereum vs Bitcoin: The Battle for the Crypto Throne – Coindoo

Ever since the world of cryptocurrency has been established, Bitcoin has been (and still is, for the time being) the leader of the e-coin market. But Ethereum is another cryptocurrency project that has amassed a considerable amount of interest due to its unique qualities.

Ethereum is a blockchain-based platform that uses peer-to-peer contracts for its currency, called Ether. The blockchain stored applications used in Ethereums smart contracts offer a decentralized way of verifying and enforcing said contracts, making it very hard for any potential fraud and censorship to occur.

These smart contracts applications run on Ether, which quickly became the worlds second most valuable digital coins. Much like Bitcoin and its Bitcoin Wallet, ether is kept in the Ethereum Wallet.

Its important to understand that Ether differs from Bitcoin, thus they have different uses and overall a different impact on the market.

A first difference between the two blockchain-based projects would be their average block time (which is the time necessary for a new token to be issued). This is 10 minutes for Bitcoin, while Ethereums block time ranges from 10 to 20 seconds with an average of 12 seconds. This time gap is due to Ethereums GHOST protocol.

The monetary supply concerning the two cryptocurrencies is also different. Bitcoins supply style is of deflationary nature (a finite number of Bitcoins exist/will be made), while Ethereums is the opposite, meaning more ether tokens will be made over time. The current number of mined Bitcoins is 16 million (most of them belonging to early miners). There is no supply cap for ether, which is why its monetary supply is considered of inflationary nature.

In Ethereum, the costing of transactions is dependent on storage needs, the use of bandwidth and the smart contracts complexity. These transactions in the Bitcoin network are limited only by the blocks size.

Mining for ether is easier, with 5 tokens given for each block, in contrast to Bitcoins half a token at 210.000 blocks (that means 12.5 tokens at every 4 years). Ethereum uses a proof-of-work memory hard hashing algorithm called Ethash, attracting users looking for a decentralized way of mining, rather than using ASICs to mine, as is the case with Bitcoins.

The usage of Bitcoins can range from purchasing goods and services, to storing value (much like precious metals). Ethereum can be used for making decentralized applications on its blockchain that represent virtual shares, assets, proof membership etc.

Although they are both considered cryptocurrencies and its normal to want to compare how the technologies differ from one another, one must keep in mind with what purpose each project was created. Bitcoin was made to be a new currency to compete against existing money, aiming to be a globally stable digital currency, while Ethereum makes use of its smart contracts to make digital agreements and transactions.

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Ethereum vs Bitcoin: The Battle for the Crypto Throne – Coindoo

Ethereum Price Analysis: ETH Could Make a Sustained Move …

Ethereum price spiked a few times higher against the US Dollar and bitcoin. ETH formed a solid support near $130 and it may climb higher above the $134 and $135 resistance levels.

Yesterday, we saw a few swing moves near the $130 level in ETH price against the US Dollar. The ETH/USD pair spiked sharply below the $130 and $129 levels and later recovered above the $130 level. Later, there were consolidation moves before the price climbed above the $131 and $132 resistance levels. More importantly, there was a close above the $132 resistance and the 100 hourly simple moving average.

During the upside, this weeks important bearish trend line was breached with resistance at $131 on the hourly chart of ETH/USD. The pair broke the 50% Fib retracement level of the last slide $135 swing high to $129 swing low. It opened the doors for more gains above the $132 level. There was also a spike above the $133 level, but upsides were capped by the key $134 resistance. The price also faced sellers near the 76.4% Fib retracement level of the last slide $135 swing high to $129 swing low. It is currently consolidating above the $132 support and the 100 hourly SMA.

On the upside, the price needs to clear the $134 resistance to continue higher. The next main resistance is near the last swing high at $135. Once the price clears both hurdles, it is likely to test the $140 resistance. On the other hand, if there is a downside correction, the $132 level might provide support. Any further losses might push it back towards the $130 support.

Looking at the chart, ETH price clearly made a few nasty moves, but it managed to settle above $132, which is a positive sign. As long as it stays above the $132 support and the 100 hourly SMA, it remains supported for more upsides towards the $135, $137 and $140 levels.

Hourly MACD The MACD for ETH/USD is gaining pace in the bullish zone.

Hourly RSI The RSI for ETH/USD climbed well above the 60 level and it is currently correcting lower towards 55.

Major Support Level $132

Major Resistance Level $135

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Ethereum Price Analysis: ETH Could Make a Sustained Move …

Ethereum Price Analysis: ETH Primed For Additional Losses …

Ethereum price moved into a bearish zone, with a close below $133 against the US Dollar. ETH may continue to move down and it could even revisit the $122 swing low in the near term.

This past week, there was a decent upward move above $130 in Ethereum price against the US Dollar. The ETH/USD pair even broke the $135 resistance and revisited the $140 barrier. However, buyers failed once again to clear the $140 resistance. As a result, there was a fresh decline and the price traded below the $138 and $136 support levels. There was even a close below the $135 level and the 55 simple moving average (4-hours).

During the slide, the price broke the 50% Fib retracement level of the last wave from the $122 low to $140 high. Moreover, there was a break below a connecting bullish trend line with support at $133 on the 4-hours chart. The pair even broke the $130 level and traded close to the $127 level. The 76.4% Fib retracement level of the last wave from the $122 low to $140 high is also near the $127 level. If there is an upside correction, the $133 level and the 55 simple moving average (4-hours) are likely to act as resistances.

Above the 55 simple moving average (4-hours), there is a key bearish trend line formed with resistance at $136. Therefore, the price is likely to struggle near the $133 and $136 levels in the near term. The main resistance remains $140, above which the price could test $148. On the downside, the $127 level is an initial support. If there are more losses, the price is likely to break the $125 level.

Looking at the chart, Ethereum price is back in a bearish zone and it could revisit the $122 swing low. If there is an upside correction, the price could struggle to clear the $136 resistance level. The overall bias remains bearish as long as the price is below $136 and $140.

4 hours MACD The MACD for ETH/USD is gaining momentum in the bearish zone, with a strong downturn.

4 hours RSI (Relative Strength Index) The RSI for ETH/USD is currently well below the 40 level.

Key Support Levels $125, followed by the $122 zone.

Key Resistance Levels $133 and $136.

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Ethereum Price Analysis: ETH Primed For Additional Losses …

What is Ethereum? The Most Comprehensive Beginners Guide

Ethereums core innovation, the Ethereum Virtual Machine (EVM) is a Turing complete software that runs on the Ethereum network. It enables anyone to run any program, regardless of the programming language given enough time and memory. The Ethereum Virtual Machine makes the process of creating blockchain applications much easier and efficient than ever before.

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What is Ethereum? The Most Comprehensive Beginners Guide

Ethereum Price Index Real-time Ethereum (ETH) Price Charts

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Ethereum Price Index Real-time Ethereum (ETH) Price Charts

Ethereum – reddit

This is going to be a post about cryptoeconomics. I hope the moderators will allow this to be posted to r/ethereum because cryptoeconomics is at the core of the success or failure of any decentralized crypto project, including Ethereum. I will discuss price but only in reference to the cryptoeconomic factors contributing to the success of Ethereum.

The motivation for writing this post came about because I have been hearing and reading a lot of people involved with Ethereum who seem to feel that price isn’t important or needed for Ethereum to succeed. I even heard this sentiment stated by one of the main speakers at ETHDenver last month! I aim to show in this post that this viewpoint is very much incorrect, and that a high and increasing price of Ether over time is a critical component to achieving success for the Ethereum platform.

First of all, the very fact that ETHDenver exists is a function of the fact that there are thousands of people being paid to write code targeting Ethereum (wallets, clients, exchanges, smart contracts, vertically-integrated Dapps etc.) In some cases, the funding for those salaries comes directly from the millions of dollars investors made in the last price cycle, while in others it comes from VC and other investors building on Ethereum who are looking forward to future large-scale growth in Ethereum, mostly driven by growth of the value of Ether and other tokens running on Ethereum. This is the virtuous cryptonomic cycle, an increasing ether price brings more projects and developers which leads to more network effects and value to the entire ecosystem.

Secondly, Ethereum needs to do very well in the crypto marketplace to continue to attract future talent, investment, and network effects. If Ethereum slips to the #10 crypto asset, it will have far fewer people choosing to build on Ethereum, those projects and developers instead looking to build on platforms with better future prospects for becoming the global financial backbone for decentralized applications.

Finally, a high price of Ether provides security for the Ethereum chain. It funds mining hardware and electricity in the PoW phase of Ethereum. And directly secures the chain in the proof-of-stake phase. Ethereum has the potential one day of securing a significant fraction of all digital financial assets on a single platform of sharded ledgers and smart contracts. If those assets are worth trillions of dollars, then Ethereum needs to be worth enough so that it is not viable to attack those assets by attacking the underlying Ethereum cryptoeconomic system.

To summarize, when some people in the Ethereum community denigrate Ether investors, say that Ethereum can work fine with the price of Ether at $10, and that a strong and growing price of Ether isn’t important, they are way off base! The price of Ether is critical to the success of Ethereum.

This virtuous cycle also explains why the value of the Ether token is important to the entire Ethereum community, and why some people react quite negatively to attempts to siphon value from ETH and accrue it to competitors instead. Those attempts, if successful, will damage the future success of the entire community.

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Ethereum – reddit

Ethereum, Bitcoin & Blockchain News – Ethereum World News

Analyst Awaits Bitcoin BreakoutEach and every day, the cryptocurrency market trades. More often than not, it seems to move in a random manner, with Bitcoin (BTC), Ethereum, or whatever other flavors of the week posting gains or losses without as much of an indication. But in the eyes of a prominent analyst, BTC moves more like clockwork than anything else.Galaxy, a trader who sports tens

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Ethereum, Bitcoin & Blockchain News – Ethereum World News

Ethereum – Investopedia

DEFINITION of Ethereum

Launched in 2015, Ethereum is a decentralized software platform that enables SmartContracts and Distributed Applications (Apps) to be built and run without any downtime, fraud, control or interference from a third party. The platform is also the basis for its own virtual currency, Ether. Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain, helping developers to build and publish distributed applications. The potential applications of Ethereum are wide ranging.

The applications on Ethereum are run on its platform-specific cryptographic token, ether. During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. Ether is used broadly for two purposes, it is traded as a digital currency exchange like other cryptocurrencies and is used inside Ethereum to run applications and even to monetize work. The current market cap of ether (ETH) is now more than Ripple and Litecoin although its far behind bitcoin (BTC).

According to Ethereum, it can be used to codify, decentralize, secure and trade just about anything. One of the big projects around Ethereum is Microsofts partnership with ConsenSys which offers Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure so Enterprise clients and developers can have a single click cloud based blockchain developer environment.

In 2016 Ethereum was split into two separate blockchains – Ethereum, and Ethereum Classic, after a malicious actor stole more than $50 million worth of funds which had been raised on The DAO, a set of smart contracts originating from Ethereum’s software platform. The new Ethereum was a hard fork from the original software intended to protect against further malware attacks. As of July 2018 Ethereum was the second-largest virtual currency on the market, behind only Bitcoin. It is much faster to acquire ether currency than bitcoin (about 14 or 15 seconds to bitcoin’s near-uniform 10 minutes) and there are far more ether units in circulation than there are bitcoin.

Excerpt from:

Ethereum – Investopedia

Ethereum Technical Analysis – FXStreet

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Excerpt from:

Ethereum Technical Analysis – FXStreet

Buy and Sell ETH With The Peer-to-Peer Ethereum Marketplace …

Buy and Sell ETH With The Peer-to-Peer Ethereum Marketplace LocalEthereum

You need to enable Javascript in your web browser settings to access localethereum.com’s marketplace.

LocalEthereum is how people exchange ETH peer-to-peer

Money in your account within minutes.* Use any payment method in 130+ countries.

A trading interface built for all audiences. No KYC requiredbegin trading in 30 seconds!

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LocalEthereum is the fast and secure way to make Ethereum trades.

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Consider the offers. Anyone in the world can post a bid to buy or sell ETH. Offers can be filtered by payment method, currency, location and popularity.

From bank transfers to gift cardsevery payment method is allowed.

Find an offer youre happy with and open a trade with the user. Choose the amount you want to buy or sell, and lock the rate in.

After the seller puts the ETH in an escrow account, the buyer pays the seller outside the platform. Payment details are discussed using encrypted messages.

Once the seller confirms payment, the ETH is released from escrow to the buyer.

The escrow account is a decentralized Ethereum smart contract. Rather than trusting a centralized authority to hold your ETH, LocalEthereum’s escrow system is trust-free.

Every conversation is protected by a unique secret key which self-destructs after completion. We can only decrypt your messages if the key is volunteered; e.g. during a payment dispute.

Optionally, you can log in without a password by using a compatible Ethereum wallet. Most popular wallets including imToken, MetaMask and Ledger are compatible.

Tested with these Ethereum wallets.

Stay up to date with the latest crypto-news and connect with other traders and staff in our official Telegram groups.

LocalEthereum

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Buy and Sell ETH With The Peer-to-Peer Ethereum Marketplace …

Ethereum Project

SECURITY WARNINGS

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 following Terms and Conditions (Terms) govern the use of the Ethereum open source software platform (Ethereum Platform). Prior to any use of the Ethereum Platform, the User confirms to understand and expressly agrees to all of the Terms. All capitalized terms in this agreement will be given the same effect and meaning as in the Terms. The group of developers and other personnel that is now, or will be, employed by, or contracted with, Stiftung Ethereum (Stiftung Ethereum) is termed the Ethereum Team. The Platform will be developed by persons and entities who support Ethereum, including both volunteers and developers who are paid by nonprofit entities interested in supporting the Ethereum Platform.

The user acknowledges the following serious risks to any use the Ethereum Platform and ETH and expressly agrees to neither hold Ethereum Stiftung nor the Ethereum Team liable should any of the following risks occur:

The Ethereum Platform and ETH could be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of Stiftung Ethereum to continue to develop the Ethereum Platform, or which could impede or limit the ability of a User to use Ethereum Platform or ETH.

It is possible that alternative Ethereum-based networks could be established, which utilize the same open source source code and open source protocol underlying the Ethereum Platform. The Ethereum network may compete with these alternative Ethereum-based networks, which could potentially negatively impact the Ethereum Platform and ETH.

It is possible that the Ethereum Platform will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of the Ethereum Platform and potential uses of ETH. It cannot predict the success of its own development efforts or the efforts of other third parties.

The User recognizes that the Ethereum Platform is under development and may undergo significant changes before release. The User acknowledges that any expectations regarding the form and functionality of the Ethereum Platform held by the User may not be met upon release of the Ethereum Platform, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the Ethereum Platform.

The Ethereum Platform rests on open-source software, and there is a risk that the Ethereum Stiftung or the Ethereum Team, or other third parties not directly affiliated with the Stiftung Ethereum, may introduce weaknesses or bugs into the core infrastructural elements of the Ethereum Platform causing the system to lose ETH stored in one or more User accounts or other accounts or lose sums of other valued tokens issued on the Ethereum Platform.

Cryptography is an art, not a science. And the state of the art can advance over time. Advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the Ethereum Platform, which could result in the theft or loss of ETH. To the extent possible, Stiftung Ethereum intends to update the protocol underlying the Ethereum Platform to account for any advances in cryptography and to incorporate additional security measures, but it cannot predict the future of cryptography or guarantee that any security updates will be made in a timely or successful manner.

As with other cryptocurrencies, the blockchain used for the Ethereum Platform is susceptible to mining attacks, including but not limited to:

Any successful attacks present a risk to the Ethereum Platform, expected proper execution and sequencing of ETH transactions, and expected proper execution and sequencing of contract computations. Despite the efforts of the Ethereum Stiftung and Team, known or novel mining attacks may be successful.

If the Ethereum Platform is rapidly adopted, the demand for ETH could rise dramatically and at a pace that exceeds the rate with which ETH miners can create new ETH tokens. Under such a scenario, the entire Ethereum Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Ethereum Platform and ETH. Instability in the demand of for ETH may lead to a negative change of the economical parameters of an Ethereum based business which could result in the business being unable to continue to operate economically or to cease operation.

If the Ethereum Platform is rapidly adopted, the demand for transaction processing and distributed application computations could rise dramatically and at a pace that exceeds the rate with which ETH miners can bring online additional mining power. Under such a scenario, the entire Ethereum Platform could become destabilized, due to the increased cost of running distributed applications. In turn, this could dampen interest in the Ethereum Platform and ETH. Insufficiency of computational resources and an associated rise in the price of ETH could result in businesses being unable to acquire scarce computational resources to run their distributed applications. This would represent revenue losses to businesses or worst case, cause businesses to cease operations because such operations have become uneconomical due to distortions in the crypto-economy.

Acknowledgment, Acceptance of all Risks and Disclaimer of Warranties and LiabilitiesTHE USER EXPRESSLY KNOWS AND AGREES THAT THE USER IS USING THE Ethereum PLATFORM AT THE USERS SOLE RISK. THE USER REPRESENTS THAT THE USER HAS AN ADEQUATE UNDERSTANDING OF THE RISKS, USAGES AND INTRICACIES OF CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED OPEN SOURCE SOFTWARE, ETH PLATFORM AND ETH. 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, ETH OR THE Ethereum PLATFORM UNDER ANY CAUSE OF 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 NOR ETHEREUM TEAM SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA. 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 OR FRAUD OF Stiftung Ethereum.

We recommend any groups handling large or important transactions to maintain a voluntary 24 hour waiting period on any ether deposited. In case the integrity of the network is at risk due to issues in the clients, we will endeavor to publish patches in a timely fashion to address the issues. We will endeavour to provide solutions within the voluntary 24 hour waiting period.

All disputes or claims arising out of, relating to, or in connection with the Terms, the breach thereof, or use of the Ethereum Platform shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said Rules. All claims between the parties relating to these Terms that are capable of being resolved by arbitration, whether sounding in contract, tort, or otherwise, shall be submitted to ICC arbitration. Prior to commencing arbitration, the parties have a duty to negotiate in good faith and attempt to resolve their dispute in a manner other than by submission to ICC arbitration. The arbitration panel shall consist of one arbitrator only, unless the ICC Court of Arbitration determines that the dispute is such as to warrant three arbitrators. If the Court determines that one arbitrator is sufficient, then such arbitrator shall be Swiss resident. If the Court determines that three arbitrators are necessary, then each party shall have 30 days to nominate an arbitrator of its choice — in the case of the Claimant, measured from receipt of notification of the ICC Courts decision to have three arbitrators; in the case of Respondent, measured from receipt of notification of Claimants nomination. All nominations must be Swiss resident. If a party fails to nominate an arbitrator, the Court will do so. The Court shall also appoint the chairman. All arbitrators shall be and remain independent of the parties involved in the arbitration. The place of arbitration shall be Zug, Switzerland. The language of the arbitration shall be English. In deciding the merits of the dispute, the tribunal shall apply the laws of Switzerland and any discovery shall be limited and shall not involve any depositions or any other examinations outside of a formal hearing. The tribunal shall not assume the powers of amiable compositeur or decide the case ex aequo et bono. In the final award, the tribunal shall fix the costs of the arbitration and decide which of the parties shall bear such costs in what proportion. Every award shall be binding on the parties. The parties undertake to carry out the award without delay and waive their right to any form of recourse against the award in so far as such waiver can validly be made.

Stiftung Ethereum is finally not liable for:

Continued here:

Ethereum Project


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