Tag: networks

Ethereum Q&A: What happens if there are bugs?

“What should be done when things go wrong with smart contracts,where funds are lost due to code error and bugs?”This is a really great question. In fact, it is the basis of a giant debate happening primarily in Ethereum.It started with the Decentralized Autonomous Organization (theDAO), which had a massive bug…leading to the loss of

Ethereum Q&A: How do smart contracts work?

The first question is about smart contracts.“How are [smart contract] operations conducted without having middlemen?”“Who does them? Can you please give us some real- world examples? Which application is best for it?”When a smart contract is executed,it is a software program [validated by] every single participant in the smart contract platform.Let’s take Ethereum as an

Bitcoin Q&A: The rules of Bitcoin (part 2)

[AUDIENCE] If that’s the case, how is it possible that one single person, like you or me, is able to predict….. what is going to happen, when the whole thing is robust in consensus decision-making? Thank you.[ANDREAS] Yeah, that’s a good question.The simple answer is that Bitcoin runs a certain set of rules, and those

Bitcoin Q&A: How will Bitcoin be adopted by developing markets? – Advancing Usability

[AUDIENCE] With the Bretton Woods system being broken and traditionally infecting markets…in developing regions [through] the World Bank, and the IMF deploying capital in Asia, Africa, and Latin America..How does Bitcoin expand and take advantage of these developing markets?How does it become a [useful] currency amongst a greater portion of the population,without macro-economic and geopolitical

Ethereum Q&A: Gas and resource allocation

“How is gas used? Is it used only in Ethereum?” This is a very interesting question.Gas is a fascinating topic regarding Ethereum and other smart contract platforms.When people talk about Ethereum, a term you will hear almost immediately is “Turing-complete.”When you hear “Turing-complete,” it sounds like something that is a great feature to have.I mean,

Ethereum Q&A: Why I’m writing ‘Mastering Ethereum’

“People are worrying that they’re going to lose you, Andreas, to the altcoin sphere.”Oh no!“Peter says, “Recently I’ve seen more and more people, especially on Twitter, commenting on…whether you will remain faithful to Bitcoin.”“In certain ways, I empathise. You certainly have never been in this for the money.”“That’s what I truly and thoroughly believe.”“It makes