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    Ethereum Why Ethereum matters, why we should root for Ethereum over almost all competing smart contract platforms

    April 17, 2019

    Ethereum Why Ethereum matters, why we should root for Ethereum over almost all competing smart contract platforms

    Why Ethereum matters, why we should root for Ethereum over almost all competing smart contract platforms

    Posted: 17 Apr 2019 09:10 AM PDT

    Bitcoin had a fair launch. Anyone who knew about Bitcoin and had access to a PC could mine from day 1. Over time, mining became more difficult but people could easily buy BTC on various exchanges or from other people who had Bitcoin. You didn't have to be a member of a privileged class to get into Bitcoin at the ground floor.

    Ethereum had a fair launch. Unlike Bitcoin, the project was far too ambitious for the people who conceived of it to pay for its development out of pocket. So they held an open crowd funding to pay for development. Anyone who heard about Ethereum could participate in the crowdsale, priced at about 30 cents/ETH. After the chain launched, anyone with a modern graphics card could also mine Ether and put some away.

    Some founders on the team didn't care for that funding model for Ethereum. They wanted Ethereum to be funded by insiders and VCs and held private for a long time. Some even left the project, or were encouraged to leave, over the difference in vision between an open community non-profit project, and a VC-held and VC-controlled for-profit organization.

    And of course both Bitcoin and Ethereum are open-source projects with licenses that encourage the ability to copy, rework, and reuse the project code.

    These days there are lots of Ethereum "killers", ETH 2.0 "killers" and ETH competitors launching and planned for launch. For the most part, they do not adhere to the Bitcoin or the Ethereum open participation models. Some are closed-source, copyrighted projects. Almost all were and are funded by VCs and the wealthy via SAFTs, often through secret deals where price and amount of tokens are not disclosed. The public is generally not allowed to participate until the tokens get marked up 5x, 10x or 100x before an exchange listing. So you will end up with the vast majority of tokens owned by a very few, already very wealthy people.

    But a radically unjust token distribution isn't all that these new "Ethereum Killers" have. No, they also are, almost to the last, designed around plutocratic governance. That is, if you are one of VCs, the insiders and wealthy allowed to buy in early before the marking up to retail, you will have orders of magnitude more tokens and therefore you will have orders of magnitude more control over future changes to blockchain rules than the hoi polloi. Some even see this kind of governance as a feature and a good thing. I disagree emphatically!

    Ethereum was an open, community-supported launch organized by a non-profit entity. It is today an open and community-participatory project. There are no fees to attach your application to Ethereum, other than gas costs. The blockchain is permissionless, no plutocracy can "vote you off the island". Ethereum is not run by rich VCs and "accredited investors" who got in on the ground floor when you couldn't.

    I do hope that Ethereum wins out. I think there is an enormous difference between an open community project and almost all of the competitors who launched after. I do not want the future of humanity's financial internet to be based on plutocratic control by the fabulously wealthy. How would that be one bit better than the existing financial system?

    If making these observations, if hoping that Ethereum becomes the global financial commons, instead of a pluto-chain taking over, makes me a narrow-minded Ethereum maximalist, so be it.

    submitted by /u/huntingisland
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    Amazon Summit Amsterdam. They are now talking about how easy it is to integrate any app on Ethereum blockchain with Unchain plugin. Adoption is real

    Posted: 17 Apr 2019 03:09 AM PDT

    On Free Speech -- vitalik.ca

    Posted: 17 Apr 2019 04:43 AM PDT

    The ENS devs are squatting on 100% of the <7 char domains and selling them at auction. Does that make sense? Where will all the money go?

    Posted: 17 Apr 2019 09:20 AM PDT

    ENS is great and a super important part of Ethereum, and potential the backbone of the future web if it replaces DNS (yes, that's a big deal). I love ENS and 100% support it.

    However, there are some concerning and problematic items that should be resolved for the community to feel comfortable with the current plan for the sub-7 char domain release:

    1. The ENS team tried to come up with a system to prevent "squatting". They couldn't, so they decided to squat on 100% (i.e. ALL) of the sub-7 char domain names themselves, and sell them at auction for profit.
    2. There is no clear mention of how they will spend the profit they make by selling the squatted domains at auction.
    3. They say the funds will go to support ENS development, but they could potentially raise 10's or 100's of millions (or billions?) of dollars as the ETH price appreciates. Does ENS development have unbounded costs?
    4. The entity that will collect the ETH is not registered as a foundation or non-profit.
    5. There's no clear budget that outlines exactly how much money is needed for 'ENS development' or how the profit will be spent ((i.e. does buying Lambos with ENS logos on them count as a marketing expense?))
    6. There's no clear plan of what happens if more than that amount of money is raised by the ENS devs.

    ​

    I think Nick is an awesome dev and would be happy to see him and the team become millionaires from their hard work, (i.e. if they wanted a million bucks each i wouldn't complain). A scenario exists however that 100's of millions or a billion dollars is raised and goes into a private for-profit entity without any oversight of the funds. That could become problematic. Would it make sense to consider a professional foundation and structure put in place to manage the excess funds in a responsible way since it's such an important part of the ecosystem and community?

    There has been talk of funding the EF with a block reward tax. Would it make sense instead if the ENS team gave *excess funds* to the EF, and then also gave the EF a portion of the $5/yr renewal fee for all domains?

    ​

    Thoughts?

    submitted by /u/Crypto_Economist42
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    Microsoft, Ethereum Group Launch Token-Building Kit for Enterprises

    Posted: 17 Apr 2019 07:21 AM PDT

    Auditor EY Unveils Nightfall, An Ambitious Bid to Bring Business to Ethereum - CoinDesk

    Posted: 17 Apr 2019 03:41 AM PDT

    Ethereum Congestion Fact

    Posted: 17 Apr 2019 06:29 AM PDT

    Cool fact for the day: The Ethereum blockchain in the last 3 weeks has processed 6 of the 10 most computation-intensive days in it's entire history. Despite that, we've seen no significant uptick in gas prices or transaction fees.

    submitted by /u/blurpesec
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    Where will the money collected for ENS names go to and be used for?

    Posted: 17 Apr 2019 12:14 PM PDT

    ENS announced that 7+ character ENS .eth addresses will cost $5 per year to keep.
    Where will this money go and what will it be used for?

    Which brings me to a second question, will it become possible to register other domains on Ethereum someday, like .insertnamehere or is there something that limits it to just .eth domains? Thanks

    submitted by /u/ynotplay
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    Max from Dharma here ��We just created #ReFi with #DeFi — a step by step guide to help you refinance your CDP and move your debt to Dharma for a cheaper rate

    Posted: 17 Apr 2019 10:53 AM PDT

    A Vision of A Global Operating System: Filesystem (cross-platform Swarm-based workspace)

    Posted: 17 Apr 2019 04:49 AM PDT

    Does anyone know if there is a collaboration between a crypto-browser project (Opera, Brave) and a decentralized storage system - e.g. Swarm?

    I was researching filesystem types for Solidity for my dType EIP-1900 project and I ended up thinking about how you can have a Swarm-based encrypted workplace that you can access from a trusted browser that supports wallets. Wrote some thoughts about this in https://medium.com/@loredana.cirstea/a-vision-of-a-global-operating-system-filesystem-c7019558b8c7

    submitted by /u/lorecirstea
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    Aragon 0.7 Bella is here

    Posted: 17 Apr 2019 11:33 AM PDT

    Geth v1.8.27 - Countering a DoS attack against fast-sync

    Posted: 17 Apr 2019 06:00 AM PDT

    Into the Ether - FOAM: The Future of Proof of Location with Ryan John King

    Posted: 17 Apr 2019 07:20 AM PDT

    FunFair product update April, interesting times coming!

    Posted: 17 Apr 2019 06:44 AM PDT

    Visualization of the top 10 crypto assets by market cap, from crypto’s early days until today. See How Fast Ethereum Rose. Source: DataLight

    Posted: 17 Apr 2019 12:01 PM PDT

    How to give a trust-less and verifiable dividend to all Ethereum holders

    Posted: 17 Apr 2019 07:47 PM PDT

    The Cereneum project has developed a safe, trust-less and verifiable way to give a token airdrop - equivalent to the amount of ETH they have in their wallet - to all Ethereum holders. The verifiable claim is done entirely in the Solidity contract of the project.

    ​

    How it's done:

    - Take a snapshot of all Ethereum wallet balances at a predefined date

    - Keccak256 hash every public Ethereum address with the ETH balance

    - Build a Merkle Tree with these hashes

    - Put the Merkle Root in the Solidity contract

    - Have user's sign a message such as "Claim_Cereneum_to_[ETHADDRHERE]"

    - The contract verifies the signature and checks the merkle proof exists

    - All balances and the Merkle Tree are published on GitHub to insure no tampering

    ​

    Using this method Cereneum is able to provide a provably fair, safe, trust-less and verifiable airdrop to all Ethereum holders. Snapshot date is set for May 14th.

    submitted by /u/CryptoPhantom13
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    Ethereum Governance Survey - Call to Action

    Posted: 17 Apr 2019 01:49 PM PDT

    There's an Ethereum Governance Survey currently live to gain more accurate data on the community's perspectives on Ethereum governance (to capture the quiet majority as well as the loud minority).

    As the Ethereum ecosystem grows and stakeholders become more emotionally and financially invested, it's vital that we understand the true views of disparate members of the community, to inform future decision making processes. The intentions of the survey are to:

    - Gain diverse community perspectives (eg. devs, miners, investors, community etc!)

    - Derive accurate sentiment analysis (better signal to noise)

    - Provide a channel for anonymous communication

    The survey takes inspiration from last year's EIP0 Shared Values Survey by Status and the ability for data-driven efforts to impact how we collaborate in the Ethereum ecosystem. The results of th survey will be open sourced and published into a report.

    Please take ~10 min to fill it out and share with your peers! The more responses, the more representative the data. :rainbow:

    https://forms.gle/F6wXuP6Rkbm7WTgFA

    submitted by /u/mariapaulafn
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    Istanbul / 1.x Core Devs Berlin Meeting - LIVESTREAM here

    Posted: 17 Apr 2019 01:27 AM PDT

    Ethereum Cat Herders Update #7

    Posted: 17 Apr 2019 02:03 PM PDT

    Breaking Down the “Flash Boys” DEX Trading Bots Bloomberg Article

    Posted: 17 Apr 2019 01:12 PM PDT

    With uncles at around 500 a day, is a gas limit increase now discarded?

    Posted: 17 Apr 2019 05:21 AM PDT

    Before the last hard fork took place, uncle count had been drastically reduced and many of us thought the gas limit could be increased. After the fork block times seem to have fallen to around 13.5 secs / block and uncles have again doubled.

    submitted by /u/aaqy
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    EDCON: Prysmatic Labs - A Client for Ethereum 2.0 & Sharding

    Posted: 17 Apr 2019 01:53 AM PDT
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