Frontier and the Evolution of Ethereum

Ethereum Logo

Ethereum Logo

Readers of CCN may be wondering what’s been going on with Ethereum, the much-hyped project of Vitalik Buterin which aims to take smart contracts, block chains, and cryptocurrency to the next level.

The project has recently received multiple endorsements by Nick Szabo, a long-time cipherpunk who many consider to be the most likely candidate for Satoshi Nakamoto. Szabo spoke highly of Ethereum on Let’s Talk Bitcoin and then again in an interview with the International Business Times.

Szabo told the publication that he believed Ethereum could post more of a challenge to traditional legal and financial institutions than even Bitcoin, saying:

Yes, eventually moreso, since Ethereum’s more flexible and general language can facilitate a much wider variety of commercial and other formal relationships. However, the Ethereum community needs to learn to reverse-engineer legal and other traditional patterns instead of trying to re-invent society from scratch. […] It will also take some time for the Ethereum platform to technologically mature, as it has with Bitcoin.

He refers here to the turing complete programming language that is built into the Ethereum platform. Turing complete means that the language

Read more ... source: CryptoCoinsNews