A key to decentralization is imposing constraints on authority. Constraints are used to limit undesired actions of agents in a system forcing them to engage in constructive behavior. When all agents are constrained such that incentives are aligned, trust can be established. With cryptoeconomics we design decentralized protocols which precisely
It's unclear how governments will integrate with blockchains. Historically, governments have gained much of their power through land ownership secured by force. However, as humanity ventures further into the virtual, physical land ownership loses importance. With cheap flights, Airbnb, and widespread internet access we will likely see a rise in
[Cover Image Source] Distributing dividends via smart contracts is difficult with a large number of shareholders. A naive implementation could look something like this: for s in shareholders: dividend = s.shares/total_shares * total_dividends send(s.address, dividend) This is not practical when the number of shareholders is large
What you will need ✅ 1. The **Chrome** web browser - [Download here](https://www.google.com/chrome/browser/desktop/) 2. The **Metamask** Chrome extension - [Download here](https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn) Metamask allows you to sign Ethereum transactions *without* running a full Geth node. Contract Programming
Understanding how to use testnets is essential for developing smart contracts on Ethereum. Here is a basic introduction to what testnets are and how to use them. What is a testnet? Testnets simulate the Ethereum network and EVM. They allow developers to upload and interact with smart contracts without paying
If you don't know what a Decentralized Application (Dapp) is, check out my previous post Why Build Decentralized Applications Two Key Technologies: IPFS: A distributed datastore modeled after BitTorrent and Git. Soon it will have an incentivisation layer in which you pay strangers to store your content. Basically, a P2P
The shift towards decentralization is happening. With tools like Angular.js, web development moved from thin to thick clients. You can't be hip without at least one SPA under your belt. The reason for this shift is simple: Computing power is scaling horizontally. We can't keep making more powerful processors.
Ethereum's roots stem from Bitcoin. Bitcoin made one major innovation: decentralized trust. Conventionally we trust governments or companies. Bitcoin moved trust to the network. With that, the first decentralized currency was born. But a currency is limited. Now enter Ethereum. Ethereum is a single computer we can trust. Using Ethereum