Bitcoin Q&A: How do payment channels work?

Bitcoin Q&A: How do payment channels work?

“Can you explain the Lightning Network and how payment channels with ‘locked’ funds work?” Yes. Let’s start with payment channels. Payment channels are [opened from]… transactions on the Bitcoin network that lock funds in a 2-of-2 multi-signature address. If I have a payment channel with Alice, that has [bitcoin] locked [in a multi-sig with one key from each of us]. I commit an [amount] of funds to the balance of…

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 me wonder why you would spend so much time…

Ethereum Q&A: Smart contract platforms

Ethereum Q&A: Smart contract platforms

Q: “Which do you think is a superior platform for smart contracts? Bitcoin with side chains like Rootstock? Ethereum or one of the self-proclaimed 3G or third-generation blockchains?” I mean the problem is you can’t really compare these things, and the reason you can’t compare them is because one exists and the other two are mostly road map or test software at the moment. So, Ethereum exists, and you can…

Ethereum Q&A: Light clients, EVM, and Mist

Marcus asks, “Why would one use Metamask, MyEtherWallet, or MyCrypto?” “Is it just that they can hold multiple Ethereum-based tokens, or do they have more useful capabilities?” Metamask, MyEtherWallet, and MyCrypto are three lightweight clients and wallets. They don’t just implement wallet functionality. They make the Web3 Javascript interface available… in your browser, that allows applications (DApps) to run and access the Ethereum network. Through this wallet, [you can] create…

Bitcoin Q&A: What are “bitcoin days destroyed”?

Bitcoin Q&A: What are “bitcoin days destroyed”?

On “bitcoin days destroyed,” Grinners asks, “Bitcoin days destroyed is calculated by taking… the number of bitcoins multiplied by the number of days since those coins were last spent.”‘ “What is the significance of this? What does this actually tell us?” It gives us an idea of the maturity of coins, how often coins are moved and in what amounts. You can look at it this way: somebody moving one…

Ethereum Q&A: Smart contract platforms

Q: “Which do you think is a superior platform for smart contracts? Bitcoin with side chains like Rootstock? Ethereum or one of the self-proclaimed 3G or third-generation blockchains?” I mean the problem is you can’t really compare these things, and the reason you can’t compare them is because one exists and the other two are mostly road map or test software at the moment. So, Ethereum exists, and you can…

Attacks on Ethereum Smart Contracts

Attacks on Ethereum Smart Contracts

Hey everyone!This is David Wong, and in this video I will talk about attacks on Ethereum smart contracts.And I’m not making things up, I’m just giving you a tl;dr of this paper called“A survey of attacks on Ethereum smart contracts”.It’s written by Nicola Atzei, Massimo Bartoletti and Tizianna Cimoli from the university ofCagliari (Italy)So if you want more details, be sure to check their paper.Before I start showing off real…

Ethereum Q&A: “Blockchain all the things”

Ethereum Q&A: “Blockchain all the things”

“In the Internet of Things (IoT), it is important to make sure that we are connected to [the right devices].”“Do you think blockchains can help in solving IoT security issues?”“Do you know of any IoT solutions using blockchains to enforce security?”I am quite skeptical when it comes to blockchains being used for IoT security.One of the interesting ideas we haven’t explored is using proof-of-work to identify IoT devices…that must do…

Ethereum Q&A: Governance scalability and asymmetric power

Ethereum Q&A: Governance scalability and asymmetric power

[AUDIENCE] Now that we are at that point in the [question-and-answer session], I wonder…Is there anybody who you might support for the presidency of the United States in 2020?If not, I wonder if there is anybody in the electoral space that is interesting and worthy of our support?If not, I wonder if you could muse about the state of electoral politics…and what we can do to make peace with the…

Ethereum Q&A: Ether, ICOs, and securities

Ethereum Q&A: Ether, ICOs, and securities

Rodney asks, “Ethereum pre-sale: ICO or not?Do you consider the Ethereum pre-sale [to be] an ICO?If so, why? If not, why not?This topic has been hot recently due to the recent SEC announcements about ICOs being securities.I’m curious to here Andreas’ thoughts on this situation too.”I think Ethereum probably has one of the best arguments as to its role as a utility token rather than a security.Keep in mind: unlike…