EtherWorld's weekly: February 25, 2018

(Blockchain eNewspaper) Quote of the week “Consensus doesn't require that everyone is happy and agrees that the chosen solution is the best one. Consensus is when everyone is sufficiently satisfied with the chosen solution, such that they no longer have specific objections to it.” Nick Johnson News World news Blockchain Research Institute (BRI) signs MoU with NASSCOM for blockchain innovation in India NASA, ESA Considering Innovative Applications of Blockchain Technology Swiss authority FINMA publishes ICO...

Ether Scam Alert!!

Beware of scammers!! Innocence and greed most of the time lead to fraud. It is always advised to be careful and check it twice before believing anything that is hard to believe. Most of the time, if it doesn't seem real, it actually isn't. Cryptocurrency is a new venture for non technical people. It has a lot of scope for con artists to fool people pretending to be one of the famous personalities in crypto...

What is Ethereum? | The Ultimate Beginners’ Guide

With the second largest market cap in the cryptocurrency world, Ethereum has drawn a lot of attention from investors and crypto enthusiasts alike. This relatively new cryptocurrency not only presents a significant change to the status quo, it also allows for the quick development and deployment of new applications. Ethereum essentially enables dozens of new and extremely innovative cryptocurrencies to exist. While Ethereum’s utility is obvious to programmers and the tech world at large,...

Understanding the concept of Private Key, Public Key and Address in Ethereum Blockchain

Before we get deeper into the concept of Ethereum Blockchain, it is important to understand how Public Key, Private Key and Address are generated. To make this easier for beginners, I am trying to explain the technical concept with an example. Ethereum key generation is based on elliptical curve ecp256k1. Eliptical curve (EC) is intense mathematics, and there are a lot of great articles on internet covering deep details of elliptical curve. There are standard...

Certificate on IPFS and Ethereum

We are going through a very exciting phase of technological transformation. Blockchain community is re-designing a lot of existing use cases and trying to solve a lot of unsolved use cases with the help of decentralized, peer-to-peer technology. Certificate generation and verification is one of the uses cases which is being attempted to be gracefully handled by blockchain. Here is one of the possible approach using Ethereum and IPFS. Step 1: Every certificate issuer is...

Metropolis Byzantium testing successful, hard fork on October 17

Metropolis, the third phase of Ethereum roadmap proposed in 2015 is not far away. As announced earlier, Metropolis is split into two hard forks: Byzantium Constantinople. Byzantium According to GitHub, a total of nine Ethereum Improvement Plan (EIP) have been accepted for Byzantium. Moving closer to Metropolis, Byzantium is released on Ropsten testnet officially on Monday, September 18, 2017. So far, everything is running as expected. It verified ZK-SNARK and Zcash transaction following the fork...

Hyperledger Blockchain vs. Ethereum Blockchain

Hyperledger – a Linux foundation project: Hyperledger, a Linux Foundation project, is an open source community to help advance technology and thought leadership. It was originated from IT majors like IBM and Intel who saw the benefits of Blockchain technology in Bitcoin. They didn’t wanted it to be used for financial transactions, so, forced them to develop their own software. Since doing it separately would be a waste of resources, these companies centralized their software...

Ethereum for utility bills payment in Australia

'Living Room of Satoshi' is a payments company based out of Australia that enables payment of any bill using cryptocurrency (Bitcoin mostly). Their customers can pay phone bills, electricity bills, school fees, credit cards, tax payments and more. They can also pay to any bank account directly using the 'Pay Anyone' service of the company. Users of 'Living Room of Satoshi' can now pay their friends, tradesmen and anyone else; even if the recipient has...

TrueBit – A scalable verification solution for blockchains

Scalability in blockchain Most popular debate in bitcoin community is that blockchain do not scale properly. It doesn't scale because every full node has to verify every transaction. The scaling doesn't really work well because of fixed block time (time between two blocks creation). If there are more and more transaction (meaning system grows); then every single node has to process more transactions in that fixed time. The transactions in Ethereum are more complicated than...

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