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Category Archive: ethereum foundation

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Ethereum Hard Fork

Ethereum Hard Fork Please note that the Ethereum (ETH) Hard Fork is scheduled for February 28, 2019. Consequently, HolyTransaction wallet services for ETH will be temporarily suspended to perform this update. The services will be suspended from around 6:00pm UTC on February 28, 2019. Note that the time might vary depending on average block time and mining difficulty. We appreciate your understanding regarding this matter and thank you for your continued support for HolyTransaction. If there are any doubts or questions about the Ethereum Hard Fork, please don’t hesitate to contact us.

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Satoshi

Why governments should embrace the Blockchain

governments_should_embrace_the_blockchain

William Mougayar, author of “The Business Blockchain” and member of the Ethereum Foundation, explains why governments should embrace the blockchain. 
A few days ago we published an article where ICAP suggested on why banks must adopt digital currencies; today we want to talk about this new important opinion by Mougayar, who is convinced that the distributed ledger could improve government services.
Government services, in fact, are one of the most important and revolutionary use cases for this technology , so it is not a surprise that governments are working to develop their own blockchain-based applications. 
During this year several cities and governmental institutions made their own plans for the ledger.
Singapore, Delaware, Estonia, Georgia, Ghana, Sweden, Switzerland, UK are just a few of many countries that developed a project related to the blockchain. 
So, if your government is not working on the blockchain, they should, explained Mougayar. 
As the blockchain is an early stage technology, it is easier to implement solutions at smaller scales.

How governments should embrace the Blockchain

What can your government do with the blockchain? There are four main areas:
  1. Verification: licenses, proofs of records, transactions, processes or events. 
  2. Movement of assets. E.g. Transferring money from one person/entity to another.
  3. Ownerships: the blockchain is a perfect ledger to custody any asset.
  4. Blockchain can be used to give e-identities to its citizens, enabling a safer kind of voting. 
So, government leaders should:
  1. Study the blockchain and explore its potential.
  2. Let people develop a blockchain strategy. 
  3. Start experimenting with blockchain technology
  4. Develop new ideas to improve the quality of life of the citizens

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Satoshi

Microsoft Smart Contracts: a working group to improve security

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Today the tech giant announced it is working on a project to improve Microsoft smart contracts security.
Called Kinakuta, this working group aims at making it easier for companies to use and develop smart contracts based on the blockchain. 
Even if more and more businesses are increasingly expressing interest in blockchain based smart contracts, concerns about this kind of use case grew after the DAO collapse
Since then, Microsoft decided to improve smart contracts security to avoid further issues in the future. 
Marley Gray, Microsoft’s director of business development and strategy, in fact, believes that their project could reduce future risks. 
“We feel there’s a huge opportunity here to involve the community. Kinakuta is the community building around Microsoft best practices and elsewhere, to collect best practices and tools and involve developers in creating these best practices.”
Gray explained that there are 35 developers and companies that the company decided to call for the Microsoft Smart Contracts group. These include the Ethereum Foundation, R3CEV and BlockApps.

Vitalik Buterin on Microsoft Smart Contracts

Vitalik Buterin, Ethereum Creator, commented that he doesn’t believe that this new project could necessarily stop future collapses like DAO.
“There will be further bugs and we will learn further lessons,” he explained in a blog post.

Microsoft Smart Contracts: a whitepaper with Harvard

Previously, Microsoft released a research realized with Harvard that explained how ethereum smart contracts will work.
This whitepaper proposes a method called “formal verification”, or the way to prove the correctness of a smart contract; also it proposes two tools to help verify smart contracts: Solidity and EVM.

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Satoshi

Ethereum Hard Fork to prevent another DAO collapse

ethereum_hard_fork
Today Ethereum founder Vitalik Buterin released a new statement explaining that Ethereum Foundation will support the Ethereum hard fork, or the blockchain version that includes the hard fork. 
The project’s goal is to allow investors to recover funds lost in the DAO collapse
The DAO was the Ethereum Foundation’s most important project, holding at one time $160m in investor capital in Ethereum cryptocurrency.
The original Buterin statements was not so clear about how the Ethereum Foundation will support the primary Ethereum blockchain and the Classic one. 

A new Ethereum Hard Fork to prevent attacks

But the foundation decided for the Ethereum hard fork, executed roughly one week ago, while indicating it would not seek to hinder progress on any alternative ethereum projects, such as Ethereum Classic
“We recognize that the ethereum code can be used to instantiate other blockchains with the same consensus rules, including testnets, consortium and private chains, clones and spin-offs, and have never been opposed to such instantiations,” wrote Buterin in the announcement.
Also, Buterin encouraged the Ethereum Classic team to execute another hard fork to prevent other attacks by moving classic ethers to new accounts.

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Satoshi

Why the Ethereum DAO collapse is good for the cryptocurrency

The news of the Ethereum DAO hacker attack is riding high and of course it brings lots of damages for the ethereum investors who stored about $150m of the cryptocurrency.

However, it is always a good behavior to understand and see the other side of the coin, we would say.
In fact, any negative event can allow to have a better environment and more secure technologies.
A similar thing happened with the Mt Gox disaster, when we learned that an exchange must be built with more care and attention.
As Matthew Spoke, co-founder and CEO of blockchain startup Nuco, explained on Coindesk.
“the DAO attack will likely be reversed, as per Vitalik’s proposal; owners of TDT will be able to retrieve their ETH after the proposed hard fork; The DAO will be emptied of its investments; and future distributed autonomous organizations will learn from the lessons”.

Ethereum DAO: what happened?

On June 17th, an unknown hacker (or a group of hackers) stole $60m in Ethereum coins from the DAO, a decentralized autonomous organization that used the Ethereum Blockchain to leverage smart contracts and to provide a platform where people can vote and fund projects.
Previously last week the DAO experienced another issue but it was fixed soon by the open-source community and the Etheruem DAO structure and problem-solving techniques.

Universal Wallet

If you want to have a safe and secure wallet to store your Ethereum, you should visit HolyTransaction. 
Here you can store your Ethereum, but also several other digital currencies including Bitcoin, Litecoin, Dogecoin and more.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Ethereum Launches Homestead

Blockchain project Ethereum has just launched Homestead, the first release of its software implemented at block 1,150,000.
ethereum launches homestead, homestead release
This new implementation comes at a time when more and more financial institutions and startups are revealing their interest in Ethereum and in creating projects related to the blockchain. 

Just a few days ago, in fact, we talked about how Ethereum now is bigger than ever

Special advisor at Ethereum Foundation, William Mougayar, explained that Ethereum processes almost 25,000 transactions per day: about 10% of the number of Bitcoin.

“You need to look at the growth of the Ethereum network via the growth of its nodes, sitting at 5,100 versus bitcoin’s about 6,000 roughly. That’s quite significant and shows the stability and global nature of the Ethereum network,” commented Mougayar.



Homestead vs Frontier

Homested is preceded by Frontier, that was released in July 2015. 
Co-founder of ConsenSys Enterprise, Andrew Key, commented that Homestead will help users to expand their possibility on Ethereum and the simplicity that will allow them to be able to build proof-of-concept products.
Keys said to CoinDesk:

“Homestead’s arrival will begin to demonstrate the next generation of blockchain technology, whereby anything we can dream of, can be accomplished in a decentralized manner using Ethereum.”





“We’ve seen Microsoft and IBM doing projects on Ethereum. There’s a lot of coders. It’s exciting to see something you were in on in the early stages growing and bearing fruit,” said Ethereum co-founder Anthony Di Iorio.


Ethereum helps Car Charging

In Germany the startup called Slock is working with RWE on a project to use Ethereum for car charging uses.

This project debuted at the Lift 2016 conference in Geneva, Switzerland and it will play out within 2017.
According to the RWE, customers will use charging stations by accepting a smart contract programmed on the Ethereum blockchain.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio