Bitcoin’s emergence as a global digital currency has been as revolutionary as it has been erratic. But while fledgling investors obsess over every fluctuation in the cryptocurrency market, nation-states are more interested in the underlying blockchain technology and its ability to revolutionize how business is done on the internet and beyond. VICE’s Michael Moynihan travels to Russia with Vitalik Buterin, inventor of the Ethereum blockchain, to get a front-row seat to the geopolitical tug of war over Internet 3.0.
dApp is the abbreviated term for a decentralized application. Just as any developer can build apps for the App Store on Apple’s IOS operating system, developers can (also) build on top of Ethereum’s blockchain infrastructure.
To the end user, a dApp might not look and feel any different than other apps you use today. However, dApps are powered by the blockchain; and this makes them different – and perhaps.. far superior.
This video explains the idea of a Decentralized Autonomous Organization (DAO) and talks about the current context surrounding the term.
A decentralized autonomous organization is an organization that is run by rules that are created by their members through a consensus process and then written into a set of contracts that are run via computer code, thus enabling the automated management of a distributed organization.
A Dapp is an application that runs on a network in a distributed fashion with participant information securely protected and operations executed in a decentralized fashion across a network of nodes. Dapps use open source code, operate autonomously with data and records cryptographically stored on a blockchain
Andy Jassy, CEO of Amazon Web Services, delivers his AWS re:Invent 2018 keynote, featuring the latest AWS news and announcements.
In this segment, he announces Amazon Managed Blockchain as a fully managed service that makes it easy to create and manage scalable blockchain networks using the popular open source frameworks Hyperledger Fabric and Ethereum.
The idea is to make it much easier to use the two most popular blockchains.
For private network capabilities, with a specific number of members, Hyperledger Fabric is available now.
Ethereum will be available in a couple of months and is often selected for a public decentralized ledger with an unknown amount of members.
Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality.
Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.
“Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014.
The system went live on 30 July 2015, with 72 million coins “premined”. This accounts for about 70 percent of the total circulating supply in 2018.
In 2016, as a result of the exploitation of a flaw in The DAO project’s smart contract software, and subsequent theft of $50 million worth of Ether, Ethereum was split into two separate blockchains – the new separate version became Ethereum (ETH) with the theft reversed, and the original continued as Ethereum Classic (ETC).
Hyperledger Fabric is a permissioned blockchain infrastructure, originally contributed by IBM and Digital Asset, providing a modular architecture with a delineation of roles between the nodes in the infrastructure, execution of Smart Contracts (called “chaincode” in Fabric) and configurable consensus and membership services.
A Fabric Network comprises “Peer nodes”, which execute chaincode, access ledger data, endorse transactions and interface with applications as well as “Orderer nodes” which ensure the consistency of the blockchain and deliver the endorsed transactions to the peers of the network.