You could wire together a group of houses or neighborhoods with generators and batteries and make the electric company redundant by establishing contracts which buy and sell electricity between participants at rates which adjust in response to demand, forecast, and each battery’s reserves.
Ethereum’s ‘problem’ to solve is “how do you program value”. It’s a tool that has never been directly available to software engineers.
You can also look at MakerDAO’s DAI algorithmic stablecoin, which has used automatic management of collateral assets to maintain a peg through the worst market crashes so far. These contracts are battle-tested and require much less trust than Tether or USDC.
He never specifies but when he says "crypto" he's referring to cryptocurrency (the field dominated by scams, charlatans, get rich quick schemes and fake internet money), not real cryptography.
I simply refuse to believe this Venn diagram is not a parody.
Cryptography generally, with special focus on the Ethereum blockchain which he created.
The internet is unfortunately dominated by junk ads, spam, phishing, and tracking, and seemingly will continue to worsen.
When it comes to Vitalik’s posts, unless otherwise stated, he focuses on Ethereum’s architecture and future capabilities.
See https://ethresear.ch for a peek at how the Ethereum community is a hotbed for testing of new cryptographic techniques, particularly zero knowledge proofs.
I encourage anyone who may be very dismissive of cryptocurrency or Ethereum to give the article a chance before leaving trite one-liners.
Vitalik is to my estimation one of the sharpest and most visibly articulate and open-minded people working in software right now, and forums that are generally unfavorable towards web3 and dApps don’t usually engage directly with his writings.
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[ 3.0 ms ] story [ 35.3 ms ] threadEthereum’s ‘problem’ to solve is “how do you program value”. It’s a tool that has never been directly available to software engineers.
You can also look at MakerDAO’s DAI algorithmic stablecoin, which has used automatic management of collateral assets to maintain a peg through the worst market crashes so far. These contracts are battle-tested and require much less trust than Tether or USDC.
I simply refuse to believe this Venn diagram is not a parody.
https://vitalik.eth.limo/images/cryptoai/ueth.png
The internet is unfortunately dominated by junk ads, spam, phishing, and tracking, and seemingly will continue to worsen.
When it comes to Vitalik’s posts, unless otherwise stated, he focuses on Ethereum’s architecture and future capabilities.
See https://ethresear.ch for a peek at how the Ethereum community is a hotbed for testing of new cryptographic techniques, particularly zero knowledge proofs.
Vitalik is to my estimation one of the sharpest and most visibly articulate and open-minded people working in software right now, and forums that are generally unfavorable towards web3 and dApps don’t usually engage directly with his writings.