Ethereum is a blockchain technology that promises to radically change the way businesses operate and value goods and services.
A recent paper from the University of Oxford, entitled “Ethereum: A disruptive blockchain for the future”, explains Ethereum is the first blockchain to be able to be “decentralized” and be able “transform the way we live”.
“Ethereum is an entirely new paradigm for economic governance, with its decentralised nature and decentralized consensus mechanism allowing for a new type of governance,” the paper states.
“By applying the Ethereum model to the world of digital assets, it enables a completely new way of thinking about money and economic power.
This new paradigm will change the world.”
A blockchain is an application of cryptography that is distributed across a network of computers.
A transaction is a set of cryptographic keys that represent a shared set of information.
A blockchain, or distributed ledger, is a collection of computer nodes which are linked together to allow the sharing of data and information.
“A blockchain provides the infrastructure for the development of new types of digital currencies, for example, for the issuance of tokens,” said the Oxford paper.
“For instance, blockchain technology enables the issuance and transfer of a cryptocurrency, called ether, which is used to facilitate digital transactions.”
The Ethereum community is currently focused on its next step, the blockchain-based decentralized digital currency (DDDC), but it has already seen substantial progress on this.
Ethereum’s smart contract model enables decentralized consensus for transactions, which can then be verified and validated by other nodes on the network.””
The Oxford paper says Ethereum will soon be available as a payment platform for merchants, which will make it easier for people to transact with one another.””
This is a key step for the Ethereum community as it continues to expand beyond the initial vision and build on the Ethereum foundation to achieve more.”
The Oxford paper says Ethereum will soon be available as a payment platform for merchants, which will make it easier for people to transact with one another.
“Ether has many advantages over traditional currencies, such as low transaction costs and instant settlement, as well as the ability to be used for the creation of new digital assets like cryptocurrencies,” the research states.
Ethereum’s “blockchain for the next decade” is set to release in 2019, but the company is currently in the process of building an “ethereum-powered virtual reality” headset, called “Ether Go”, which will be available in early 2020.
EtherGo will enable users to use virtual reality headsets in a number of ways, including allowing them to “see” their surroundings and interact with the environment.
“While EtherGo is still in the early stages of development, it has been built with the goal of allowing people to experience VR through a new platform for virtual reality,” the company states.
“This is an exciting step for EtherGo, and a sign of the growing interest in virtual reality and its potential for economic transformation.”
The Ethereum Foundation, which promotes the project, describes EtherGo as “a virtual reality headset designed to be fully compatible with the Oculus Rift virtual reality head-mounted display (VRHMD).”
“The headset will include a low latency tracking system for accurate tracking and spatial information.
This will allow users to feel immersed in virtual environments without the need for a bulky headset,” the foundation says.
“Endergo will allow developers to create virtual reality applications that use the EtherGo platform for enhanced realism, augmented reality, and immersive audio/visual experiences.”
The platform’s “eclipse” features will enable “the creation of virtual and augmented reality environments that will allow people to ‘see’ the world in 3D, including through virtual and/or augmented reality,” it states.
Users can purchase the headset from a website that has been set up by EtherGo.
The price for the headset is $79.99.
The Oxford research comes as a new company, Ethereum Alliance, is preparing to launch a new version of the Ethereum platform, the Ethereum Classic (ETC).
The Ethereum Classic is designed to provide users with “better control over their funds”, which is a feature that will make Ethereum more attractive for institutional investors.
Etc aims to allow users who hold ETH to “trade for other ETH, and exchange between these two currencies,” according to a press release from the Ethereum Alliance.
“The ETC will allow Ethereum to compete with Ethereum Classic, and provide more robustness in the exchange of Ethereum and Ethereum Classic.”
The Ecto platform will be “fully interoperable” with Ethereum, “as well as support other Ethereum-based platforms”, according to the release.
“For example, the Ectoin platform will enable ETC holders to buy and sell ETC using their existing fiat currency and ETC holdings, and also be able buy and Sell ETH using the ETC market,” the release continues.
“Additionally, Ectos tokens will be tradable on ETC-traded platforms, and Ect