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What Is Ethereum?

whatthefuckisethereum.com

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Re: What Is Ethereum?

#211

Post by rspeer »

mbrock wrote: post #153
rspeer wrote: post #110

Earlier quoted context omitted.

How do you cryptographically, trustlessly verify that food is healthy?

The ideology that everything has to be completely cryptoeconomic and trustless is hugely overblown. It's good that Ethereum eliminates the central trusted third party for the base layer, but then you are free to be flexible with how you define trust in your applications. Obviously you can't "cryptographically verify" a complex topic like health; you need to delegate decisions to intelligent actors.

If you're delegating decisions to intelligent actors, why not delegate to intelligent actors who make a payment app that's denominated in dollars and includes none of the complexity of Ethereum?

Re: What Is Ethereum?

#212

Post by ojr »

puranjay wrote: post #207
mikenew wrote: post #26

There's one point in particular that took me a while to grasp: while you can write code that runs on the Ethereum network, every single node has to process that code. So if, for example, you had a big 3d animation sequence that you wanted to have rendered, you would not just send that code off to the network to be processed. You would have to pay to have every single person on the network process that job for you, an…

I'm very wary of buying ETH because I've seen it shilled VERY HARD on 4chan. I don't trust anything that 4chan is telling me to buy.

the average 4chan user probably doesn't own a finney so I wouldn't worry about it, the development team for Ethereum is pretty solid I think that should be taken more into consideration before contributing money to a software project

Re: What Is Ethereum?

#213

Post by elmigranto »

rhaps0dy wrote: post #142
elmigranto wrote: post #140

Earlier quoted context omitted.

So instead of hiring professional animator with good reputation and fair pricing, you write a sophisticated program to check correctness of animations (what would that do?), try to come up with fair price in somewhat cryptic market, and hope someone somewhere will take up a challenge of both, figuring required specs from your contract source code and actually have an expertise to do a job in question. Revolutionary i…

No, you check the quality of the rendering. The rendering is already done by computers. The animators tell the computer what to render.

How are you checking? How is someone executing contract can be sure that you won't say "bad quality, won't pay", but use it anwywat. What is the point of ethereum in your concept?

Re: What Is Ethereum?

#214

Post by cubano »

uncle_d wrote: post #108
herval wrote: post #97

Earlier quoted context omitted.

How would Ethereum “replace Facebook”?

Well, it can't in its present form, but there is a market (me, at least) for a distributed app framework that would be the basis for uncensored (and uncensorable) serverless p2p versions of all your favorite social media.

You would think so, but doesn't the lack of one already existing speak rather loudly about it's market potential?

Re: What Is Ethereum?

#215

Post by DennisP »

chriswarbo wrote: post #206
gfody wrote: post #42

Earlier quoted context omitted.

Ethereum isn't trying to be some sort of generic distributed computing platform. The notion of writing a dApp to do distributed 3D rendering is outrageously stupid. The idea is to program your money. Here's a dollar that can only be spent on healthy food. Give these to your kids for doing their chores or whatever.

> Here's a dollar that can only be spent on healthy food. Give these to your kids for doing their chores or whatever. Are such restrictions meaningful though? One huge feature of these currencies/tokens is how easy it is to trade them; maybe your kids will trade their "healthy food dollar" for $0.75 of some unrestricted currency, hence "a dollar that can only be spent on healthy food" is actually "about $0.75, with a…

If the tokens can only be sent to a whitelist of healthy food providers, then they can't be sent to other individuals attempting to trade them for other types of tokens.

The token would just need to check against the whitelist in its transfer function.

Re: What Is Ethereum?

#218

Post by DennisP »

joosters wrote: post #169
dogma1138 wrote: post #166

Earlier quoted context omitted.

Blockchain != crypto currency. There are quite a few private blockchains that are now running in the financial and healthcare industries at a pretty large pilot programmes that are very functional and bring destinct advantages.

Name some. And then explain why a private blockchain, controlled by a single entity, or a group of companies that trust each other, is better than a database.

There's no reason to use a blockchain within a single entity. Use a database for that.

Private blockchains do appear to be useful among a consortium of companies who don't completely trust each other, and don't want to pay a single company to maintain a central database.

Re: What Is Ethereum?

#219

Post by DennisP »

puranjay wrote: post #207
mikenew wrote: post #26

There's one point in particular that took me a while to grasp: while you can write code that runs on the Ethereum network, every single node has to process that code. So if, for example, you had a big 3d animation sequence that you wanted to have rendered, you would not just send that code off to the network to be processed. You would have to pay to have every single person on the network process that job for you, an…

I'm very wary of buying ETH because I've seen it shilled VERY HARD on 4chan. I don't trust anything that 4chan is telling me to buy.

I doubt that opinions on 4chan have a strong correlation to reality in either the positive or negative direction.
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