Enlightening Ethereum

Good intro to the ideas: Andreas Antonopoulos vids – here 

 

“The promise that blockchain has to revolutionize how business and individuals trade value over the internet is staggering. Enterprise organizations see the vision for disrupting their industry and themselves. The atom has been split, so now the race to take advantage of it begins.”

Some interesting terminology:

  1. Commodification of trust
  2. Cryptlets and Cryptic fabric
  3. Zero trust computing platform
  4. Smart contracts (aka tokenized programs)
  5. SmartContract == a ledger of itself within the distributed ledger

Excellent overview including examples of what Ethereum may do: here

Microsoft Project Bletchley brings Ethereum to Azure: here

Intro to Bletchley: here

Bletchley lets Azure customers set up set up a globally distributed multi-node consortium Ethereum network down in 8 questions (5-8 minutes): here

More depth on Bletchley here

A 2 minute intro to Hyperchain with excellent example of how blockchains will be used here and a whitepaper: here

“Blockchain 2.0 (Ethereum) and 1.0 (Bitcoin) differ in how things are tokenized and are transacted against. A SmartContract is essentially a ledger of itself within the distributed ledger. Tokenized assets exist within SmartContracts themselves. Whereas 1.0 UTXO databases transact directly against tokenized assets and their unspent transaction outputs (UTXO). This is not the forum to discuss which approach is better, but its safe to assume that both types of systems will exist and in fact a good argument can be made that both are needed. An example of this could be tokenizing entities like people, organizations, assets, commodities…actual things which are created or “provenanced” on a UTXO blockchain and the applications or contracts that work with those items are “provenanced” on SmartContract based systems. It is trivial to record the public key or hash of an item created in a UTXO database within a SmartContract.”

UTXO  “unspent transaction output.” Unspent transaction outputs are important because fully validating nodes use them to figure out whether or not transactions are valid– all inputs to a transaction must be in the UTXO database for it to be valid.

 

Bitcoin Course! Here

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