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Gavβs Ethereum ΓΞV Update II
Well... what a busy two weeks. I thought it about time to make another update for any of you who might be interested in how we're doing. If you don't already know, I'm Gavin, a founder of Ethereum and one of the three directors (alongside Vitalik and Jeffrey) of Ethereum...
Published on: November 01, 2014 | Source:
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An Information-Theoretic Account of Secure Brainwallets
An important and controversial topic in the area of personal wallet security is the concept of "brainwallets" - storing funds using a private key generated from a password memorized entirely in one's head. Theoretically, brainwallets have the potential to provide almost utopian guarantee of security for long-term savings: for as...
Published on: October 23, 2014 | Source:Scalability, Part 2: Hypercubes
Special thanks to Vlad Zamfir, Chris Barnett and Dominic Williams for ideas and inspiration In a recent blog post I outlined some partial solutions to scalability, all of which fit into the umbrella of Ethereum 1.0 as it stands. Specialized micropayment protocols such as channels and probabilistic payment systems...
Published on: October 21, 2014 | Source:Gavβs ΓΞV Update I: Where Ethereumβs at
Who are you? I'm Gav - together with Jeffrey Wilcke and Vitalik Buterin, I'm one third of the ultimate leadership of Ethereum ΓΞV. ΓΞV is a UK software firm that is under a non-profit-making agreement with the Ethereum Foundation to create version 1.0 of the Web Three software stack....
Published on: October 17, 2014 | Source:Slasher Ghost, and Other Developments in Proof of Stake
Special thanks to Vlad Zamfir and Zack Hess for ongoing research and discussions on proof-of-stake algorithms and their own input into Slasher-like proposals One of the hardest problems in cryptocurrency development is that of devising effective consensus algorithms. Certainly, relatively passable default options exist. At the very least it...
Published on: October 03, 2014 | Source:Scalability, Part 1: Building on Top
Over the next few weeks, I am going to make a series of posts that is going to be a large overview of the possibilities for scalability of Ethereum, intending to create a precise understanding of the problems at bay in implementing a scalable cryptocurrency infrastructure, and where the least-bad...
Published on: September 17, 2014 | Source:crypto renaissance
βThe best way to predict the future is to invent it.β Alan Kay January 3rd 2009 marked the beginning of a new era. The invention of the blockchain is a milestone in technology -- the string of characters 36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2 being justone of the side effects triggered by it. Thanks...
Published on: September 02, 2014 | Source:Software and Bounded Rationality
One of the key properties that is usually sought for in a cryptoeconomic algorithm, whether a blockchain consensus algorithm such a proof of work or proof of stake, a reputation system or a trading process for something like data transmission or file storage, is the ideal of incentive-compatibility - the...
Published on: September 02, 2014 | Source:State of Ethereum: August Edition
Development of Ethereum has been progressing increasingly quickly this past month. The release of PoC5 ("proof of concept five") last month the day before the sale marked an important event for the project, as for the first time we had two clients, one written in C++ and one in Go,...
Published on: August 27, 2014 | Source:An Introduction to Futarchy
One of the more interesting long-term practical benefits of the technology and concept behind decentralized autonomous organizations is that DAOs allow us to very quickly prototype and experiment with an aspect of our social interactions that is so far arguably falling behind our rapid advancements in information and social technology...
Published on: August 21, 2014 | Source:Secret Sharing and Erasure Coding: A Guide for the Aspiring Dropbox Decentralizer
One of the more exciting applications of decentralized computing that have aroused a considerable amount of interest in the past year is the concept of an incentivized decentralized online file storage system. Currently, if you want your files or data securely backed up "in the cloud", you have three choices...
Published on: August 16, 2014 | Source:Announcement on planned withdrawal from exodus
Now that the first two weeks of the ether sale are over, and over 50 million ETH has been sold, we intend to soon make a transaction to begin using the funds to repay loans and kickstart the process of setting up our development hubs and expanding our staff. We...
Published on: August 08, 2014 | Source:Ether Sale: A Statistical Overview
The first two weeks of the ether sale are over, and we have to date received over 25000 BTC from selling over 50 million ETH. This marks the largest cryptographic token sale to date, and with the two endowments places ETH as being the token with the 8th highest total...
Published on: August 08, 2014 | Source:Programming Society with Asm: Gavin Wood at Assembly 2014
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Published on: August 06, 2014 | Source:Ether Purchase Troubleshooting
Although we hope that the ether purchasing experience goes smoothly for everyone, we recognize that there will always be situations where things do not quite go as planned. Perhaps your internet connection dies in the middle of your purchase. Perhaps you accidentally click a back button or some link or...
Published on: July 23, 2014 | Source:Launching the Ether Sale
First of all, I would like to thank the community, and especially those close to the project who have in many cases abandoned their jobs to dedicate their time to it, for their extreme patience regarding the launch of the ether sale. We have been promising that the sale would...
Published on: July 22, 2014 | Source:Ethereum and Oracles
One of the more popular proposals for implementing smart contracts differently from the way they are typically presented in Ethereum is through the concept of oracles. Essentially, instead of a long-running contract being run directly on the blockchain, all funds that are intended to go into the contract would instead...
Published on: July 22, 2014 | Source:the ethereum project: learning to dream with open minds
βAnd those who were seen dancing were thought to be insane by those who could not hear the music.β Friedrich Nietzsche Ethereum as a project is more than just a technology, even if technology is at its core. In the rush of creating, co-creating and debugging everything you sometimes...
Published on: July 14, 2014 | Source:Toward a 12-second Block Time
One of the annoyances of the blockchain as a decentralized platform is the sheer length of delay before a transaction gets finalized. One confirmation in the Bitcoin network takes ten minutes on average, but in reality due to statistical effects when one sends a transaction one can only expect a...
Published on: July 11, 2014 | Source:Background on the mechanics of the ether pre-sale
During the run-up to the ether sale we will be releasing a series of blog posts regarding our development plans and intended organizational structure. Today we describe some of the background details of the ether sale module. The sale module will be displayed on our website at https://www.ethereum.org for the...
Published on: July 09, 2014 | Source:On Stake
The topic of mining centralization has been a very important one over the past few weeks. GHASH.io, the Bitcoin network's largest mining pool, has for the past month directed over 40% of the Bitcoin network's hashpower, and two weeks ago briefly spiked over 50%, theoretically giving it monopoly control over...
Published on: July 05, 2014 | Source:Advanced Contract Programming Example: SchellingCoin
Writing effective decentralized applications in Ethereum is at the same time easy and hard. The easy part we all know: rather than needing to create your own blockchain, manage complicated database code, deal with networking and NAT traversal, or any of the other complexities involving writing a peer-to-peer app from...
Published on: June 30, 2014 | Source:On Mining
Decentralization, n. The security assumption that a nineteen year old in Hangzhou and someone who is maybe in the UK, and maybe not, have not yet decided to collude with each other. There has been a large amount of ruckus in the past week about the issue of mining...
Published on: June 19, 2014 | Source:Ethereum Project Update
Development of the Ethereum project has gone very well over the months since inception. The core activity β development of the software platform β is on track and many developers around the world are starting to build small, exploratory distributed applications on the platform, even though we are still not...
Published on: June 05, 2014 | Source:What If Ethereum Lived on a Treap? Or, Blockchains Charging Rent
Although truly solving blockchain scalability fundamentally, that is to say figuring out a solution to the problem that every node must process every transaction, is a very hard problem, and all suggested solutions rely on either highly advanced cryptography or intricate multi-blockchain architectures, partial solutions that provide a constant-factor improvement...
Published on: May 27, 2014 | Source:On Long-Term Cryptocurrency Distribution Models
One of the challenges when creating a new cryptocurrency is figuring out what the distribution model is going to be. Who is going to receive the currency units, at what time, and what is the mechanism that decides? Despite the crucial importance of this question, there has actually been comparatively...
Published on: May 24, 2014 | Source:Long-Range Attacks: The Serious Problem With Adaptive Proof of Work
Our current proof of work design, blockchain-based proof of work, is the second iteration of our attempt to create a mining algorithm that is guaranteed to remain CPU-friendly and resistant to optimization by specialized hardware (ASICs) in the long term. Our first attempt, Dagger, tried to take the idea of...
Published on: May 15, 2014 | Source:What is Ethereum? Project, Platform, Fuel, Stack.
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Published on: May 14, 2014 | Source:DAOs, DACs, DAs and More: An Incomplete Terminology Guide
One of the most popular topics in the digital consensus space (a new term for cryptocurrency 2.0 that Iβm beta-testing) is the concept of decentralized autonomous entities. There are now a number of groups rapidly getting involved in the space, including Bitshares (also known as Invictus Innovations) developing βdecentralized autonomous...
Published on: May 06, 2014 | Source:Serpent upgrades: More Fun Stuff
Over the past two weeks our primary focus has been getting all of the clients updated to PoC5 compatibility, and it definitely has been a long road. Among the changes to the VM include: The new init/code mechanism: basically, when you create a contract, the code provided will...
Published on: May 02, 2014 | Source:Decentralized Protocol Monetization and Forks
The idea of releasing a new currency as a mechanism for funding protocol development is perhaps one of the most interesting economic innovations to come out of the cryptocurrency space. In the past twenty years, we have seen a growing centralization in the protocols that underlie the internet, with the...
Published on: April 30, 2014 | Source:The Issuance Model in Ethereum
Ether (ETH), the cryptofuel that powers distributed applications on the Ethereum platform, will be issued at a constant annual linear rate via the block mining process. This rate is 0.3 times the total amount of ETH that will be purchased in the pre-sale. While the best metaphor for ETH...
Published on: April 10, 2014 | Source:Pyethereum and Serpent Programming Guide
The content of this tutorial is intended to apply to PoC5. Most of the instructions given below will not work in the older PoC4 implementations of AlethZero (C++) and Ethereal (Go) Over the last few weeks, we have made a large number of changes to the Ethereum protocol. POC4,...
Published on: April 10, 2014 | Source: