Press "Enter" to skip to content

Posts published in “ethereum”

Auto Added by WPeMatico

It’s the end of crypto as we know it and I feel fine

Watching the current price madness is scary. Bitcoin is falling and rising in $500 increments with regularity and Ethereum and its attendant ICOs are in a seeming freefall with a few “dead cat bounces” to keep things lively. What this signals is not that crypto is dead, however. It signals that the early, elated period of trading whose milestones including the launch of Coinbase and the growth of a vibrant (if often shady) professional ecosystem is over. Crypto still runs on hype. Gemini announcing a stablecoin, the World Economic Forum saying something hopeful, someone else saying something less hopeful – all of these things and more are helping define the current market. However, something else is happening behind the scenes that is far more important. As I’ve written before, the socialization and general acceptance of entrepreneurs and entrepreneurial pursuits is a very recent thing. In the old days – circa 2000 – building your own business was considered somehow sordid. Chancers who gave it a go were considered get-rich-quick schemers and worth of little more than derision. As the dot-com market exploded, however, building your own business wasn’t so wacky. But to do it required the imprimaturs and resources of major corporations – Microsoft, Sun, HP, Sybase, etc. – or a connection to academia – Google, Netscape, Yahoo, etc. You didn’t just quit school, buy a laptop, and start Snapchat. It took a full decade of steady change to make the revolutionary thought that school wasn’t so great and that money was available for all good ideas to take hold. And take hold it did. We owe the success of TechCrunch and Disrupt to that idea and I’ve always said that TC was career pornography for the cubicle dweller, a guilty pleasure for folks who knew there was something better out there and, with the right prodding, they knew they could achieve it. So in looking at the crypto markets currently we must look at the dot-com markets circa 1999. Massive infrastructure changes, some brought about by Y2K, had computerized nearly every industry. GenXers born in the late 70s and…

Peep the future of distributed ledgers with the leaders of Hyperledger, Parity Technologies and Tradeshift

As cryptocurrencies emerge from the speculative bloodletting of the past months, believers in the promise of distributed ledger technologies for business and consumer applications are casting about for what comes next. On our stage at Disrupt San Francisco we’ll be welcoming some of the leading thinkers in how distributed ledgers can create an entirely new architecture for computing and new processes for almost every conceivable transaction framework. For Brian Behlendorf, the executive director of Hyperledger, distributed ledger technologies represent a powerful path for the future of networked computing — no matter the underlying technology.  That’s why Behlendorf –through the Linux Foundation — is investing resources in ensuring that viable open source distributed ledger projects are supported and coming to market for any number of applications for businesses and consumers. One of the leading lights of the internet revolution, Behlendorf’s career shaping the future of the networked world began in 1993 when he co-founded Organic Inc. — the first business dedicated to building commercial websites. Going on to become one of the foundational architects of the Apache http protocol, Behlendorf has served as the chief technology officer of the World Economic Forum and as an executive director for the technology investment fund, Mithril Capital. Meanwhile, Parity Technologies is attempting to ensure that businesses don’t need to worry about the underlying technologies at all. Selling a suite of services that are all enabled by distributed ledger technologies and cryptographic computing, Jutta Steiner is giving businesses a way through the maze of competing protocols with a service that can enable the creation and adoption of distributed apps for businesses. “We see it as a way for people to build blockchains that fulfill their particular needs,” Steiner told our own Samantha Stein at our Blockchain event earlier this year in Zug. “One of the challenges we’re addressing in this is to come up with a scalable framework.” Before Parity, Steiner was responsible for security and partner integration within the Ethereum Foundation when the public blockchain first launched in 2015. Steiner also co-founded Project Provenance — a London based start-up that employs blockchain technology to…

Three Rising Cryptocurrencies to Watch (That Aren’t Bitcoin)

As of January 3, 2018, the entire cryptocurrency market was worth a staggering $700 billion. Driven by Bitcoin, the highest profile cryptocurrency, after it bounced back from its Christmas 2017… Read more » The post Three Rising Cryptocurrencies to Watch (That Aren’t Bitcoin) appeared first on Noobpreneur.com.

Sagewise pitches a service to verify claims and arbitrate disputes over blockchain transactions

Sometimes smart contracts can be pretty dumb. All of the benefits of a cryptographically secured, publicly verified, anonymized transaction system can be erased by errant code, malicious actors or poorly defined parameters of an executable agreement. Hoping to beat back the tide of bad contracts, bad code and bad actors, Sagewise, a new Los Angeles-based startup, has raised $1.25 million to bring to market a service that basically hits pause on the execution of a contract so it can be arbitrated in the event that something goes wrong. Co-founded by a longtime lawyer, Amy Wan, whose experience runs the gamut from the U.S. Department of Commerce to serving as counsel for a peer-to-peer real estate investment platform in Los Angeles, and Dan Rice, a longtime entrepreneur working with blockchain, Sagewise works with both Ethereum and the Hedera Hashgraph (a newer distributed ledger technology, which purports to solve some of the issues around transaction processing speed and security which have bedeviled platforms like Ethereum and Bitcoin). The company’s technology works as a middleware, including an SDK and a contract notification and monitoring service. “The SDK is analogous to an arbitration clause in code form — when the smart contract executes a function, that execution is delayed for a pre-set amount of time (i.e. 24 hours) and users receive a text/email notification regarding the execution,” Wan wrote to me in an email. “If the execution is not the intent of the parties, they can freeze execution of the smart contract, giving them the luxury of time to fix whatever is wrong.” Sagewise approaches the contract resolution process as a marketplace where priority is given to larger deals. “Once frozen, parties can fix coding bugs, patch up security vulnerabilities, or amend/terminate the smart contract, or self-resolve a dispute. If a dispute cannot be self-resolved, parties then graduate to a dispute resolution marketplace of third party vendors,” Wan writes. “After all, a $5 bar bet would be resolved differently from a $5M enterprise dispute. Thus, we are dispute process agnostic.” Wavemaker Genesis led the round, which also included strategic investments from affiliates of Ari Paul…

Andreessen-funded dYdX plans ‘short Ethereum’ token for haters

Crypto skeptics rejoice! A new way to short the cryptocurrency market is coming from dYdX, a decentralized financial derivatives startup. In two months it will launch its protocol for creating short and leverage positions for Ethereum and other ERC20 tokens that allow investors to amp up their bets for or against these currencies. To get the startup there, dYdX recently closed a $2 million seed round led by Andreessen Horowitz and Polychain, and joined by Kindred and Abstract plus angels, including Coinbase CEO Brian Armstrong and co-founder Fred Ehrsam, and serial investor Elad Gil. “The main use for cryptocurrency so far has been trading and speculation — buying and holding. That’s not how sophisticated financial institutions trade,” says dYdX founder Antonio Juliano. “The derivatives market is usually an order of magnitude bigger than the spot trading or buy/sell market. The cryptocurrency market is probably on the order of $5 billion to $10 billion in volume, so you’d expect the derivatives market would be 10X bigger. I think there’s a really big opportunity there.” How dYdX works The idea is that you buy the short Ethereum token with ETH or a stable coin from an exchange or dYdX. The short Ethereum’s token price is inversely pegged to ETH, so it goes up in value when ETH goes down and vice versa. You can then sell the short Ethereum token for a profit if you correctly predicted an ETH price drop. On the backend, lenders earn an interest rate by providing ETH as collateral locked into smart contracts that back up the short Ethereum tokens. Only a small number of actors have to work with the smart contract to mint or close the short Tokens. Meanwhile, dYdX also offers leveraged Ethereum tokens that let investors borrow to boost their profits if ETH’s price goes up. The plan is to offer short and leveraged tokens for any ERC20 currency in the future. dYdX is building its own user-facing application for buying the tokens, but is also partnering with exchanges to offer the margin tokens “where people are already trading,” says Juliano. “We think of…

The future of Ethereum looks bright

In what amounted to one of the most far-reaching and interesting conversations at TC Sessions in Zug, Ethereum masterminds Vitalik Buterin, Justin Drake, and Karl Floersch spoke openly – and often candidly – about a bright future for Ethereum scaling and, more interestingly, their way to build teams that work. “There’s definitely changes that we could have made into the protocol,” said Buterin when asked whether or not he would have changed anything if he could start Ethereum again. But, he said, “there are ways in which that the problem is fundamentally hard.” In other words, growth was the only option. “The demand for using public blockchains is high and we need to up the stability in order the meet that demand,” he said. Floersch discussed the problems associated with Ethereum in the context of “adversarial networks.” The network, he said, should “penalize people who don’t provide guarantees” and he felt that the tools available to simulate economic actors – including bad actors – are still weak. “We come up with ideas, try to formalize them, and implement them,” he said. But, he said, the simulations still aren’t available. The team expects aspects of Ethereum 2.0 – namely the Casper upgrade and the addition of sharding – to begin rolling out in 2019. After that, said Floersch, Ethereum 3.0 would enable quantum secure systems i.e. systems that can withstand the power of quantum computers. “We’ll push quantum secure updates before there are commercial quantum computers,” he said. Ultimately, said Buterin, Ethereum runs because the team is so tightly knit thanks to a clear roadmap. He said Bitcoin has many heads and the gridlock created was dangerous. “Can they agree? No. You have gridlock,” he said. “Part of the reason is that the Ethereum community early on [continued] to promote the idea of the Ethereum roadmap,” he said. “I feel that the roadmap is part of the social contract.” “People who buy into ethereum buy in knowing that these are the things that people are going to want to push it forward. There may be deadlock on what specific path the…

Three Bitcoin Billionaires Share Their Story of How They Moved Early into the Asset Class

At the recent Upfront Summit my partner Stuart Lander had the opportunity to show some California Love and interview three of the wealthiest Bitcoin owners, each of whom were some of the earliest owners in the asset class and who haven’t sold any of their holdings. It’s an extraordinary story ranging from Jaime who studies cryptography in college to Bryan who was early in selling products on Silk Road to Steven owns 179,000 Bitcoin worth more than $2 billion. All three have received death threats and travel with full-time body guards. This interview was truly extraordinary. It’s a short watch — I highly recommend checking it out. Who knows? Maybe you could learn a bit about the next major cryptocurrency trend. The video is 24 karat magic. Enjoy. And if you do please share the video so we share the knowledge. https://medium.com/media/897cc1a65460fb7a4056ce1eaf984739/href Three Bitcoin Billionaires Share Their Story of How They Moved Early into the Asset Class was originally published in Both Sides of the Table on Medium, where people are continuing the conversation by highlighting and responding to this story. Powered by WPeMatico

Cookies help us deliver our services. By using our services, you agree to our use of cookies. More Info | Close