TWO MAIN TYPES Not all blockchains are created equal. Some empower individuals, others profit corporations. This article takes a look at who benefits and why. Of course, the world isn’t neatly divided into two categories: people and corporations. Companies are composed of individuals after all. However, the interests of people, in contrast to corporate motivations, may be a useful framework for understanding two primary types of blockchains: “public” and “private”—or perhaps, “public” and “corporate”, is a more apt depiction. Let’s first cover some basic terminology to better make sense of blockchains and how they are used in real-world applications. BLOCKCHAIN JARGON A blockchain is simply a special type of database—one that is usually replicated and distributed amongst numerous interested parties.
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by Dr Bryant Joseph GILOT Code is Cruel generated criticism and discussion which I read with great interest. Ethereum: What’s the fuss? shows my enthusiasm for the Ethereum Project. Below, I continue the conversation. The Current Situation The DAO was hacked on 17 June 2016. The Ethereum Community voted for the soft fork proposed by the Ethereum Foundation only to abort it due to a denial of service vulnerability. A hard fork is now widely viewed as the best approach to recover the ‘stolen’ funds. The DarkDAO is subject to a 27 day holding period under the terms of the DAO Ethereum contract. This will prevent the DarkDAO from being drained until 27 days after 17 June 2016. I have not confirmed the exact moment
Why I changed my mind and now endorse a hard fork Introduction This post is inspired by a live discussion led by Andreas Antonopoulos on June 29, covering the most recent developments in TheDAO and Ethereum. This excellent discussion can be viewed in its entirety here. The opinions expressed in this article are my own and do not necessarily reflect those of the panelists or other researchers at CryptoIQ. In the spirit of full- disclosure, I own both DAO tokens and ether. Nothing here should be construed as investment advice. A Costly Experiment Shortly after TheDAO hack came to light, and it became evident there is an unintended flaw in the code, allowing an unscrupulous party to enrich itself at
The Yin and Yang of Crypto Speculation “Thirty spokes share the wheel’s hub; It is the center hole that makes it useful. Shape clay into a vessel; It is the space within that makes it useful. Cut doors and windows for a room; It is the holes which make it useful. Therefore profit comes from what is there; Usefulness from what is not there.”  In Crypto We Trust Ka-ching! The DAO is big news in the startup world, shattering previous records for crowdfunding ventures . With still another two days to go before the offering closes, The DAO has raised an astonishing sum, about $143 million so far, denominated in ether (ETH), the cryptocurrency of the open source Ethereum