Ethereum Launched

kliuless, Matafilter, Aug 08, 2015
Commentary by Stephen Downes
files/images/sales_contract.png

First, the background: "A blockchain is like a place where you store any data semi-publicly in a linear container space (the block). Anyone can verify that you’ve placed that information because the container has your signature on it, but only you (or a program) can unlock what’s inside the container because only you hold the private keys to that data, securely."

Now, the cool bit: "Ethereum announced its first developer release a week ago. What is Ethereum? According to the video it's a "planetary scale computer powered by blockchain technology." Why is this important? "This computing paradigm is important because it is a catalyst for the creation of decentralized applications, a next-step evolution from distributed computing architectural constructs.... a system with the benefits of a centralised, shared infrastructure but without the centralised point of control: if the data and business logic is shared and replicated, no one firm can assert control, or so the argument goes." Image: Etherscripter.

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