Why Ethereum-Style Blockchains Do Not Really Decentralize
Ethereum and similar platforms intend to generalize Bitcoin technology by adding a Turing complete language to the stack. The idea is to have a powerful language at hand with which to implement all kinds of applications - Bitcoin is just the first app, the real technology is the immutable Blockchain and consensus over a distributed system. Bitcoin, on the contrary, deliberately supports a very sparse, incomplete scripting language to avoid attack vectors. Bitcoin is a platform which enables transactions, and generalizing it towards an application platform can enable many interesting....
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The project is intended to decentralize identity, much like Bitcoin decentralized money.
As the developer of a popular blockchain platform, I sometimes gets asked whether Ethereum-like smart contracts are on the MultiChain roadmap. The answer I always give is always: 'No, or at least not yet'. But in the hype-filled world of blockchains, smart contracts are all the rage, so why ever not? Well, the problem is, while we now know of three strong use cases for permissioned bitcoin-style blockchains (provenance, company recordkeeping and lightweight finance), we've yet to find the equivalent for Ethereum smart contracts. It's not that people don't understand what they want smart....
The cryptocurrency powering the XRP Ledger (XRPL), XRP, will be accessible via other blockchains. According to an official post, Multichain has added support for the XRPL to connect it with Ethereum Virtual Machine (EVM) and non-EVM compliant blockchains. Related Reading | Ethereum Whale Snaps Up $6 Million Worth Of SHIB As Accumulation Trend Continues Formerly […]
As Bitcoin had an ambitious dream to decentralize currency, MaidSafeCoin has an ambitious dream to decentralize the internet. The coin is only half the story, it is to be used in tandem with the SAFE (Secure Access For Everyone) network. Why should we decentralize Internet, it seems to be working fine right? Well for now, at least. According to MaidSafe’s whitepaper, datacenters that support the Internet’s backbone are having increasingly trouble to cope with the 2.4 billion people connected to it, a number that is expected to increase to 3.6 billion by 2017. On top of that it’s highly....
US insurance giant USAA has reportedly begun investing resources into exploring how to incorporate blockchain technology into its infrastructure. As reported by Reuters, USAA is in the early stages of seeing how distributed open ledgers could be applied to its business. The company "has yet to identify how it will implement the technology", according to the news service. However, USAA managing director of corporate development Alex Marquez said it may examine how blockchains could potentially decentralize its back-office operations. Marquez told Reuters that the company has a "serious....