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Blockchain history, Questions
Token sale vs other methods?
How do DAOs…
Blockchain history
Ethereum
Definition
- p2p platform to execute smart contracts and apps
- supports turing complete languages
Created in 2013, token sale in 2014 (7.4eth for 3700 btc), went live on july30th 2015, 1billion by 2016
DAO
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TheDAO
- dencentralised VC
- allow investors vote and decide on fund distribution
- hacked in 2016 for 120 mil
- rewinded > ETH
- main chain > ETH classic
Banks and blockchain
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ie, r3's coard, Chain, JP morgan Qorums and Juno, Digital asset holdings, Hyperledger
Prebitcoin
libertarians
- centralised authority minimal as possible
Cypherpunks + ceyptoanarchist
- eric hughes
- reveal yourself on your own accord
Digicash (david chum)
- signoff without revealing identity
- failed due to centralisation
Hashcash
- proof of work (spamming would be too computational exy
B-money (Dai)
- cryptocurrency
- proof of work to create b$
- collective book keeping
Bubble and altcoins
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altcoins
- zcash, xrp, eth. doge, dash, monero
Scalibility
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Proposals
- Changing of block size
- modifying underlying protocol
- ie: Bitcoin XT, Bitcoin Classic, Segwit, Segwit 2x
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State of the industry
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Industry products
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Parity
- Multisignature wallet, requiring multiple ppl to sign off transactions
- 300 mil locked because of bug
Hacks and Scandels
Mt.Gox
- originally for trading magic the gathering
- 20110619 theft
- 2014 handling 70% for all btc transactions, lost 750k bitcoins > bankrupt
- used on silk road
Questions
- Token sale vs other methods?
- How do DAOs work