Říj 25

Money 20/20 Recap: Ethereum, Consumer Protection, Investment

Source: bitcoin

Money 20/20

On Monday afternoon at the Money20/20 Conference in Las Vegas, Ethereum lead developer Vitalik Buterin, and Don Tapscott, author of Blockchain Revolution, took center stage to speak to the groundbreaking potential of the Ethereum network.

Also read: Money 20/20: Cybersecurity Panel Praises Information Sharing to Reduce Cybercriminal Risks

Buterin started off by going over his history within the Bitcoin space, going back to when he first learned about the technology in 2011, and then his involvement in various “Bitcoin 2.0″ projects starting in 2013 and onward.

Bitcoin as a network is optimized to append the text-based list of who-has-what, Buterin said, not run complex applications on a distributed blockchain network. To answer this problem, he began creating the Ethereum network, where each node doubles as a virtual machine and can run applications on the native scripting language and cryptocurrency, called Ether.

Don Tapscott, Author of Blockchain Revolution, framed the narrative early. “The internet is entering a second era,” he said. “We’ve seen the internet of information for many days, and now we are seeing the internet of value.” As the internet evolves, traditional infrastructural technology in the financial sector needs updating to lower reconciliation and overhead costs.

Banking in the Age of Blockchain: Scalability and Immutability in Bitcoin and Ethereum

Banks are going to have to change, Buterin claimed, the technological developments in financial infrastructure are inevitable. Banks have to adopt in turn to oncoming decentralization technological pressures.

As Buterin put the ongoing struggle, “Automated contract execution has a lot of exciting applications in general.” Centralization in payments infrastructure is also a bad idea, Buterin argued, echoing, “with credit cards, this is an insane notion that to make a payment you have to give an actor your private keys.”

A major problem of  Ethereum and Bitcoin blockchains is delay times due to an increasingly costly and crowded blockchain. With realistic scalability goals around 100,000’s of transactions per second, Ethereum would need to implement their Proof-of-Stake (POS) architecture to raise from the embryonic level of 15 transactions per second currently.

When discussing the possibility of redacting data from a blockchain solution, full-immutability may not service a societally beneficial purpose. Speaking to the notion that “Code is Law” and miners will have the final say over the networks, Buterin reiterated the final say that miners have over a given network, stating, “The fact is that you can 51% attack Ethereum or Bitcoin when you get that mining power. So you need to be realistic about where these systems stand today.”

At the end of Vitalik’s interview, Tapscott asked what the future holds for banks. “Are the banks toast?” he asked.

Buterin responded, “Toast, french toast!”

Panel Recap: Consumer Protection and Blockchain

In the second panel of the day, an all-star lineup consisting of former White House executive Jamie Smith, BTCC CEO Bobby Lee, and serial entrepreneur Eric Martindale spoke to the multi-faceted nature of blockchain technology.

Security and maintenance of the decentralized Bitcoin network is what gives the system finality, the panel established. In this sense, Bitcoin holds unique benefits, because the security on the extremely computationally intensive Bitcoin network enables for a secure list of who owns what to append without opportunity for redaction or recourse.

As Lee put it, “you can’t print more Bitcoin!”

The panel also raised an industry-wide problem, where as long as customers are not holding their own keys, then the companies who are managing funds on behalf of the customers essentially become centralized entities themselves in turn.

Bitcoin is not even in its 8th year, is still very young, and yet the Bitcoin blockchain itself is open to be compromised. Mr. Martindale echoed the paradigm shifting nature of these changes, stating, “These (blockchain) changes are exponential, we need to re-evaluate everything at a deep level, if you can sign with a private key then no authority can take that (capability) away from you.”

While advances in the space are occurring rapidly, it is important to remember that blockchain technology is a double edged sword. Especially as cybersecurity attacks take on increased sophistication, the blockchain space is writing history as the industry progresses. Jamie Smith detailed use cases that BitFury is undertaking with the Blockchain Trust Accelerator, including land titling in Georgia, vaccine dissemination in developing countries, and other solutions in the marketplace that can help in solving a social good.

Still, potential for Orwellian monitoring of transactions on a blockchain needs to be approached with caution.

“Everyone in the world will have a phone, and will have wifi, and if now people can transfer a digital asset for free, then what do we do about that?  We all need to ask themselves this,” said Mrs. Smith.

At the end of the talk, the panelists were asked to predict the price of Bitcoin in one year’s time. Eric Martindale thought a 10x growth to $6,000 per Bitcoin was in reach, but Bobby Lee saw things doubling.  Jamie Smith thought that the industry could do better with branding and communication, leveraging the human spirit to explain blockchain technology and Bitcoin succinctly and accurately to a wider audience.

Money 20/20 Panel Recap: Investing in Blockchain Technology

To round out the day, a team of experienced industry investors across the blockchain space discussed the investment environment in the industry. What is starting to emerge as a Linux-type operating system — geared towards hardcore techies —  blockchain investments have a rocky track record at best. In turn, the space needs more success stories to demonstrate narratives which show success stories of real-world implementation and show the power of investing in R&D development.

Past paradigm-shifting technological changes such as the radio or internet have evolved way beyond initial use cases to realize exponential growth.  In the blockchain space, the same opportunities exist, but lots of hard work is still to be done.

In the end, however, people are the ones accessing the code. As Meltem Demirors of the Digital Currency Group put it: “People are underlying everything. People, not technology.  So we need better tools and standards around how cryptocurrency is stored and how it is exchanged. . .The user experience in blockchain today is not very friendly.”

However, panelists brought up the sheer newness of blockchain technology — which may serve to ease worries over its ease of use problem.

Over time, the emergence of the internet plays into a larger story of value transfer online functions and evolves.  Protocols for compute, storage, and verification will make up different levels of the global blockchain networks. Innovations will likely take a decade or two to develop fully and at scale, but will simultaneously add infrastructural substance to managing the industry-wide deployment of blockchain technology. Just as the, TC/IP protocol took decades to emerge, Blockchain protocols will need to be designed to both proactively and reactively handle challenges faced from regulators and scammers alike.

Matt Roszak, Founding Partner of Tally Capital, spoke to the nascent nature of blockchain technology:

“We are no where near the hype cycle on blockchain. . .20%, maybe rounding up on this. . .This is a 1000x opportunity.  We have so much to build. Think about Uber in 1997, we needed to build so many things first to have Uber in 2007.  We will need billions of dollars more in investment to move things on the rails that are blockchain”

Building equity trading directly into these protocols will enable for their proliferation. Eventually blockchains can make a huge impact and jump old tech just like mobile phones did.

Overall, the panels showed the growing interest in cryptocurrency among the wider financial services and FinTech crowd.  Blockchain and cryptocurrency remain hot topics at the event.  Coders, industry players, and investors alike are thinking along similar long term lines with a vision towards adopting blockchain technology into a wider set of walls.

It won’t be an easy ride, but discussion between industry leaders is helping to pave the path for future collaborations.

What do you think about Vitalik Buterin’s comments on Ethereum? What takeaway themes were these from the other two panels featured here? Share your thoughts in the comments below!


Images courtesy of Ryan Strauss, Ethereum.org.

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Money 20/20 Recap: Ethereum, Consumer Protection, Investment

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Čvn 20

DAO Soft Fork Revised to Allow Generic “Blacklisting”

Source: bitcoin

soft fork

The soft fork proposed to fix the sticky situation The DAO has dragged the Ethereum community into is here, and is a perhaps disproportionately drastic to the problem. The proposed solution to the DAO attack is to freeze all funds in the contract by blacklisting the hashes that correspond to the stored Ether. Want to withdraw funds from the DAO or “split” from the failed experiment? Be prepared to do so on an alternate Blockchain.

Read Also: Exiting The DAO Legitimately Would Take 67 Steps, 48 Days

Soft Fork Praised Within, Decried by Ethereum ‘Outsiders’

 

The interesting facet of this development is the recent update to the blacklisting methodology being used by the Ethereum devs. It has become a “generic function” as of today. This means that Miners can discriminate against entire regions or groups of Ethereum users, effectively banning them from doing business on the network by freezing their funds:

“This will also allow anyone to make a proposal to the majority of the miners to ask them for help for any future possible soft forks by allowing them to ignore blocks that take certain actions undesirable by the community.”

While this soft fork comes as a boon to the Ethereum Community, as this intervention is certainly better than letting The DAO (and possibly Ethereum, by extension) crash and burn, It continues to be contentious in the wider Crypto community. The fear is that this solution has too much potential for abuse. For example, The blacklisting protocol could be used as an anti-competitive measure against disruptive DAOs, Dapps and Ethereum users by entrenched Ethereum miners and Users with large holdings to leverage.

Another possibility, discussed by Andreas Antonopoulos on Twitter, is that law enforcement or regulatory bodies could split the Ethereum Blockchain by region or along other lines with mandatory “blacklisting” legislation.

The strong measures taken by the Ethereum Devs are a very divisive issue, and while intervention was arguably needed to effect a positive outcome after The DAO’s collapse, the long-term concerns that the soft fork raises cannot be dismissed out of hand. Whether or not this new feature of Ethereum’s infrastructure is abused, or used effectively remains to be seen, and is largely dependent on what the masses involved with Ethereum deem “undesirable actions.” The new realities the resolution presents for DAO and Ethereum Dapp developers, individuals with significant ETH holdings will be complex and far reaching regardless of the outcome.

 

Thoughts on the soft fork? Let us know in the comments!


Images courtesy: The DAO, Ethereum Foundation, Jan Miranda

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DAO Soft Fork Revised to Allow Generic “Blacklisting”

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Čvn 20

Andrew Vegetabile of Litecoin Association Opposes DAO Fork

Source: bitcoin

Vegetabile

Andrew Vegetabile, Director of the Litecoin Association, came out against a fork of Ethereum/The DAO, Decrying interference with The DAO by outside crypto developers in an open letter to  “Vitalik Buterin, The DAO, future smart contract developers, and the throngs of individuals within the crypto ecosystem” today.

Read Also:  How The Verge’s Russell Brandom Misrepresented the DAO Attack, Bitcoin

Andrew Vegetabile Calls Buterin’s Intervention “Unprecedented”

 

He Cites the widespread negative impact outside of The DAO as significant disincentive:

“…now Ethereum is having to face this very situation. From legal to sociological effects, the direction the leadership of a coin takes can have long outstanding impacts not only to the specific coin, but also to the entire crypto ecosystem by setting a dangerous precedent.”

He calls Buterin’s involvement in affecting an outcome to The DAO attack  “unprecedented” and draws parallels to the bank bailouts of 2008 financial crisis due to the central nature of the intervention. This may seem an extreme comparison, but he isn’t far off here, unfortunately:

“Never in the history of crypto for as far as I can remember has a developer been intimately involved with a third party application in attempting to resolve said applications issues. The best analogy that I can think of at this point is if there was a bug in counterparty code and the Bitcoin core devs got involved.”

Buterin, unlike Satoshi, is a known entity in the crypto community, and the degree of influence he has over the Ethereum community  leads to frequent comparisons of his role to that of a “benevolent dictator.” His mention of a soft fork to “fix” The DAO attack has been overwhelmingly accepted by people with a stake in ETH and The DAO, while other, less invasive solutions have fallen by the wayside.

It is clear that Vegetabile wants the takeaway to be that central intervention is antithetical to the core concepts that make Ethereum and other Cryptocurrencies successful. Furthermore, he posits that the outcome of the DAO attack will not be isolated to Ethereum and smart-contracts.

“My word of advice to all of you is to do absolutely nothing at all.”

 

Vegetabile is also very careful to keep his statements reasoned and civil. It comes off as a level-headed, honest word of warning rather than a vitriolic attack on a competing cryptocurrency. The DAO’s failure will affect the entire cryptocurrency market, after all, and the handling of its consequences by Ethereum and DAO participants will shape how smart contracts and Crypto will be treated by investors, developers, and in court moving forward.

 

How do you think The DAO’s failures should be handled? Leave your thoughts in the Comments below!


Images Credit to: Wikimedia, Litecoin Foundation

 

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Čvn 19

How the Verge Totally Misrepresented the DAO, and Bitcoin

Source: bitcoin

Verge DAO

According to The Verge’s Russell Brandom, The recent attack on the DAO is somehow related to the past failings of Bitcoin.

Also read: Technical Analysis: Long-Term Bitcoin Price Corrections to Come?

That’s right: your eyes are not playing tricks on you, I promise that you read that correctly.

I’ve seen my share of tinfoil-hatting on the subject of cryptocurrency and security, but Brandom’s conflation of these two completely different technologies takes the cake. The sheer ignorance required to put pen to paper and excrete a work like his recent article on the subject is astounding, but apparently achievable, as he so readily demonstrates.

For those  of you that aren’t fond of supporting the spread of FUD through ad revenue, I’ve compiled a few highlights:

“To understand how this could have happened, it’s necessary to know a little bit about how Ethereum works. The system is built on the same blockchain that powers Bitcoin.”

Indeed. ETH uses SHA256 based proof-of-work, all ETH transactions are logged transparently on the Bitcoin blockchain, bitcoin miners are rewarded in ETH upon a successful payout, changes to Ethereum need Bitcoin node consensus, and Vitalik Buterin continues to be one of the primary contributors to the Bitcoin specification.

Here’s an example of an equally accurate statement: ammonia is healthy to drink, because it’s a liquid, just like water.

“In hindsight, it’s easy to blame the developers for not spotting the problem early enough, but the nature of the DAO project put them at a disadvantage. A coder building a web database has decades of code and security standards to draw on, but coding on the blockchain is a completely new field.”

Oh, of course! We all know that traditional stores of personal information, financial services and networks are immune to malicious actors, because the technology they rely upon is older!

How naive of me to assume that an open source, frequently audited technology based on cryptography could have ever been secure when it isn’t based on protocols and standards from the early 80’s.

Regardless of the fact that this assumption about blockchain technologies recklessly ignores the scale of theft and fraud in traditional fintech, it also directly contradicts his previous statement about the DAO developers’ awareness of the vulnerability.

He is in effect claiming that not only are blockchain technologies hopelessly insecure because they are new, (because apparently traditional best security practices cannot transfer to new technologies) but also that the DAO developers, who knew about the bug, and decided not to halt trading, unlike several other similar DAOs, were not negligent.

The attack on the DAO clearly wasn’t a failing of blockchain security. Plenty of other DAOs are fine. The attack was a failing of people. The same people that claimed that the titanic Ethereum-based organization was unsinkable. They failed to address a publicly-known vulnerability properly, and there were consequences to their actions.

“Theft is a long-standing problem for cryptocurrency, particularly for any institution large enough to make a tempting target. In 2014, the foundational Bitcoin exchange Mt Gox was revealed as massively insolvent in the wake of a $400 million theft, an event that resulted in permanent damage to the currency’s reputation.”

I honestly don’t have it in me to mock this one.

Theft is a long standing problem with people, and this issue we collectively have applies to anything worth stealing, not just cryptocurrency.

This line of reasoning also dictates that no one should use knives because “Stabbings have been a long standing problem for knives, particularly with any blade large enough to puncture the skin.” But polearms, bayonettes, hatchets, axes, and the like are safer, because they don’t look like knives.

The Verge Doesn’t Know Much About the DAO, or Digital Currency in General

Brandom Could’ve just as easily used the 145 million account PayPal breach that happened the same year as Mt. Gox, or the $21 billion USD of US credit card fraud that occurred in 2014 alone to make his point about security, but he equates two unrelated thefts, on two distinct cryptocurrencies, because they both show up in the buzzword tag-cloud when you search for the term “blockchain.”

Mt. Gox and the DAO attack did not stem from problems with the underlying technology of cryptocurrency, but failings with the people behind them.

In the case of Mt. Gox, it was trusting the people in charge of the exchange to secure the traditional, web-facing elements of their business properly. For the DAO, it was an issue of trusting the developers to respond promptly to security problems, just like every other competently put together DAO did.

Sure, Bitcoin is an easy target, but that doesn’t excuse the lazy and inaccurate comparisons drawn between Mt. Gox, the DAO attack, Ethereum, and Bitcoin, nor the intellectually bankrupt reasoning behind the comparisons.

Whether they stem from ignorance on the subject of cryptocurrency or sheer lack of due diligence, I’d take anything Russell writes related to the field with a grain of salt moving forward.

I genuinely don’t know which is worse: the ignorant and fallacious assertions made by Brandom in his article, or that the Verge saw fit to print his drivel.

What do you think about mainstream coverage of the DAO incident? Is it accurate? Let us know in the comments below!


Image courtesy of Ethereum.

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How the Verge Totally Misrepresented the DAO, and Bitcoin

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Kvě 17

Bitcoin Is the Original DAO

Source: bitcoin

DAO Bitcoin

Decentralized autonomous organizations have received much attention in recent weeks since Ethereum launched its new Decentralized Autonomous Organization platform, featuring projects such as Slock.it and Digix, among others. Ethereum has chosen to ignore the elephant in the room in its press releases: there’s another DAO. It’s Bitcoin, and it’s the biggest blockchain technology around.

Also read: Everyone’s Favorite Crypto Just Might Scale After All

The First DAO

Ethereum

Bitcoin is undoubtedly an online creation community: an internet based ecosystem of participants who contribute – often in isolation of each other – towards one single stated project or goal. Online creation communities create a robust cross-section of the Internet, and while a quiet phenomenon, they have built, and will continue to build, the Internet of the future.

Bitcoin, based on a distributed protocol that provides financial services based on certain parameters, represents a distributed autonomous organization. Jeff Garzik, early Bitcoin developer, calls Bitcoin the decentralized autonomous organism.

While Ethereum has garnered attention for the DAO concept, it’s true that Bitcoin has existed in a similar form since 2008. And, since then, we have seen it evolve as a decentralized organization and incorporated numerous services. Side chains, a blockchain application interoperable with Bitcoin, offer a promising horizon to extend the Bitcoin protocol’s features.

Although the connection of Bitcoin as a DAO does not grace press releases of projects promoting their products, Ethereum has admitted that “Bitcoin is an interesting case here” and likely constitutes a DAO more than other blockchain organizations. In a May 2014 blog post at Ethereum.org, Vitalik Buterin – co-founder and developer of Ethereum – admits Bitcoin takes the form of a DAO.

Buterin posits Bitcoin, however, is not a perfect DAO. He cites an incident in 2013 when a block was accidentally produced and confirmed by BitcoinQT 0.8 clients. That block was invalid according to the parameters of BitcoinQT 0.7, the previous Bitcoin client. This caused the blockchain to fork, meaning nodes did not know which chain – 0.7 or 0.8 – was the correct one.

Most mining pools had upgraded to BitcoinQt 0.8, so they followed B1, but most users were still on 0.7 and so followed B2,” Buterin writes. “The mining pool operators came together on IRC chat, and agreed to switch their pools” in such a way that meant as little stress for users as possible.  

“Thus,” Buterin proceeds, “in this case, there was a deliberate 51% attack which was seen by the community as legitimate, making Bitcoin a DO rather than a DAO. In most cases, however, this does not happen, so the best way to classify Bitcoin would be as a DAO with an imperfection in its implementation of autonomy.”

Buterin adds that some people do not classify Bitcoin a DAO because the digital currency, founded in 2008 by Satoshi Nakamoto, “is not really smart enough.” Buterin sees the sense in this opinion.  

“Bitcoin does not think,” the Ethereum developer writes. “It does not go out and ‘hire’ people with the exception of the mining protocol, and it follows simple rules the upgrading process for which is more DO-like than DAO-like. People with this view would see a DAO as something that has a large degree of autonomous intelligence of its own. However, the issue with this view is that there must be a distinction made between a DAO and an AA/AI. The distinction here is arguably this: an AI is completely autonomous, whereas a DAO still requires heavy involvement from humans specifically interacting according to a protocol defined by the DAO in order to operate. We can classify DAOs, DOs (and plain old Os), AIs and a fourth category, plain old robots.”


Sources:

ja/satoshi


Images courtesy of Digital City Tickets, Ethereum.

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Dub 30

Tierion Raises $1 Million for Blockchain Verification Platform

Source: bitcoin

Tierion Raises $1 Million for Blockchain Verification Platform

The blockchain startup Tierion has raised $1 million in a seed funding round to continue developing its platform which verifies the integrity of a file, data, or business protocol through distributed ledger technology. The investment round was led by Blockchain Capital, Fenbushi Capital, and the Digital Currency Group. Tierion says its software gives developers the tools for building applications tethered to the blockchain.

Also read: Industry Report: Kraken, Others Receive Large Investments

Tierion’s Platform Raises $ 1 Million from Blockchain Capital, DCG, and Fenbushi Capital

Tierion had made headlines earlier this year when it partnered with Philips Blockchain Lab to innovate medical data with digital ledger consensus. The company headquartered in Hartford, Connecticut was founded in 2015 by Wayne Vaughan and Jason Bukowski. With the firms Chainpoint software, users can “anchor” millions of records housed within a single transaction on the blockchain. Tierion says, “Blockchain receipts can be shared with other systems and used to independently verify the integrity and authenticity of any file, data, or business process.” All of its processes verify without trusting a third party or relying on centralized arbitration. Wayne Vaughan, Tierion’s CEO and Co-Founder stated in the announcement:

“We’re thrilled with the creative uses we’ve seen for Tierion. At one end of the spectrum, one of the world’s largest healthcare companies is using Tierion to record the maintenance and usage history of industrial medical equipment. At the other end, we’re seeing a legal cannabis dispensary use Tierion to create immutable records of their inventory and transactions.”

The startup says there is a broad range of use cases when it comes to distributed ledger technology, and the company’s software is ready to encompass many of them. The very foundation of Tierion is a scalable engine for cryptographically ensured data so that businesses around the world can anchor with the blockchain. Vitalik Buterin, Ethereum founder and Partner at Fenbushi Capital, says Tierion makes immutable records and proof-of-existence “easy” and believes the company displays an “interesting approach” to anchoring. Another Investor of the project Bart Stephens, Managing Partner of Blockchain Capital explains Tierion’s advantages saying:

“Blockchain technology has tremendous potential beyond payments. Tierion’s platform gives any enterprise easy access to the blockchain to verify any document or business process. This is a powerful tool for companies operating in a regulated environment like financial services, healthcare, insurance, or government services.”

The software Tierion and partners have assembled Chainpoint will allow developers to get hands on with blockchain technology and notarize certain data. The hope is to build an automated and standardized process for enterprise applications meeting both financial solutions and other use cases. Barry Silbert, CEO of Digital Currency Group also believes in the Tierion team and says in the announcement, “We are excited to see the Tierion team leveraging the core innovation of blockchain technology to secure data and ensure it cannot be tampered with. Their open protocol will enable those new to this technology to easily create data management tools to track the history of one of the most valuable assets of any organization – information.”

What do you think about Tierion’s Chainpoint software? Let us know in the comments below.


Images courtesy of Tierion’s Website, and Shutterstock

 

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Dub 23

Introducing ChinaLedger a Blockchain Coalition

Source: bitcoin

Introducing ChinaLedger a Blockchain Coalition

A Beijing-based blockchain coalition is being organized and was recently announced by Mr. Bai Shuo, former chief engineer at Shanghai Stock Exchange. According to a recent press release, “ChinaLedger” announced on April 19 was formed to help regulatory policy and standard practices concerning distributed ledger technology.

Also read: Bitcoin Price: Stagnant or Satisfactory?

ChinaLedger a Beijing-Based Blockchain Coalition

With reported support from the Chinese National Assembly, the new group has a variety of sponsors mentioned and is requesting advisors to join the new group. Some of the advisors cited in the press release are leading cryptocurrency innovators and blockchain executives within this emerging industry. The list includes Ethereum co-founders, Anthony Di Iorio, and Vitalik Buterin. Along with Bitcoin core developer Jeff Garzik and UBS Innovation Manager Alex Baltin.

Figuring out the best way to approach the policies and directives associated with the distributed ledger technology industry is the main goal of this new coalition. Mr. Shuo explains that organizing businesses and innovators together can bring about a better standard across this financial tech landscape. China and many other of the surrounding countries are just learning about this emerging technology, and Mr. Shuo believes working together can bring better solutions for the Chinese region. Mr. Shuo explains in the announcement:

“We cannot think clearly in the absence of Blockchain integration in the hastily organised international financial sector in China. We need to unite China and find consensus and find solutions in China for Blockchain technology.”

Mr. Bai Shuo

Currently, it seems Chinese officials have kept their distance from regulating Bitcoin and have been watching from the sidelines. Mr. Shuo feels this is the perfect time to create a better understanding of the economic changes and technologies emerging today. The ChinaLedger coalition will research and work with officials and businesses within the industry to help China stay on top of this new environment.

Groups all around the world are forming for this very reason. Just recently the Global Blockchain Forum was announced with the same intentions as ChinaLedger. With organizations being created to help teach better-standardized blockchain practices and figure out the best way to regulate these technologies it should make progression run smoother. With backing from the Chinese National Assembly and other sponsors the nonprofit coalition is moving well in this direction.

What do you think about the ChinaLedger coalition? Let us know in the comments below.


Images courtesy of ChainB, The ChinaLedger Coalition, and Redmemes

 

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Úno 12

Ethereum Foundation Appoints ​Dr. Christian ​Reitwiessner to C++ Team Leader

Source: bitcoin

Ethereum

Zug, Switzerland, Feb. 09, 2016 –­­ The Ethereum Foundation, a leader in the research and development of blockchain technology and decentralized networks, has announced effective January 15th, 2016 the appointment of Dr. Christian Reitwiessner as Lead Developer and Team Lead for the C++ team.

Disclaimer: This is a press release. Bitcoinist is not responsible for this project. 

Christian joins Jeffrey Wilcke, Lead Developer and Team Lead for the GO team overseeing the development of Ethereum’s core development platforms.

From Vitalik Buterin, Founder of Ethereum, “Christian Reitwiessner is an excellent developer, and has been involved with the Ethereum project for over a year. His development work has been crucial in taking Solidity from Gavin’s initial vision on a github document to a fully­featured programming language used by over 100 ethereum applications around the world, and I look forward to more great work from him in his new capacity as lead C++ developer.”

Christian is a blockchain specialist with a PhD in Computational Complexity. Prior to joining Ethereum, he worked for TomTom NV, a Dutch company that produces navigation and mapping products, leading a team responsible for processing road traffic data and taking it into account in routing algorithms on personal navigation devices.

Since joining Ethereum, Christian has created the Ethereum Smart Contract Language, Solidity. Solidity is similar to Javascript and perhaps the first example of a contract­oriented programming language. It is designed to compile code for the Ethereum Virtual Machine which lies behind every Smart Contract and DApp (Decentralized Application) running on the Ethereum network.

Regarding the appointment to his new role, Christian comments: “Ethereum is a free software project that anyone is free to use and improve. From what we have seen at our conferences and meetups, there are so many people working on projects on top of Ethereum, but we only have a small team working on the actual platform. Ethereum should be an open project that is inviting for anyone to propose improvements, actually implement them and get them accepted.

As the new C++ team lead, I will do my best to get the entry barrier as low as possible not only for users (DApp developers) but also for developers (platform developers). This is a necessary step, and I am convinced that this is the way software should be developed, especially software that aims to be beneficial to humanity as a whole.

Of course, the community can only support us, we cannot ask anyone to develop an important feature with a deadline in their free time. This is why the core team will focus on the key software components and many other things will be optional. We will drop any work duplicated between the Go and C++ teams unless it is essential for finding consensus bugs and work hard to remove the invisible “language barrier” and bring the teams closer together to function as one  cohesive team.

This means our priorities will be Solidity and Mix (the IDE and smart contract debugger), while the C++ implementation of ethereum/web3 (“eth”) will align its interface with the Go implementation Geth, so existing front­ends like Mist, the Ethereum wallet, the Geth console and other tools can attach to both backends without changes.

On the other hand, this means that we cannot support the development of the C++ UI AlethZero into a fully­fledged dapp browser and would be happy to see its unique features (mainly the blockchain explorer) being integrated as a DApp into Mist.”

About Ethereum Foundation

The Ethereum Foundation is a non­profit organization registered in Switzerland, overseeing the resources dedicated to supporting the research and development of Ethereum blockchain technology. Additional information is available on the organization’s website at: www.ethereum.org 

 

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Ethereum Foundation Appoints ​Dr. Christian ​Reitwiessner to C++ Team Leader

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