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Definition. 1. "ethereum it is not another cryptocurrency. It is rather a P2P financial infrastructure able to support any kind of currency design, if expressed as a collective Smart Contract." 2. "Ethereum is a community-driven project aiming to decentralize the internet and return it to its democratic roots.
The native asset ether (ETH) is used to pay for state changes, and to reward validators for participating in consensus which advancing the chain. While Ethereum’s lack of onchain governance prevents capital having a direct voice (in the form of ETH) in stakeholder decision making, the asset holders may try to steer the protocol down suboptimal paths.
14.10 Opportunities and Pitfalls for a progressive use of the blockhain. 14.10.1 Pitfall #1: We can replace messy and time-consuming social processes with elegant technical solutions. 14.10.2 Pitfall #2: The technical can instantiate new social or political processes. 14.11 The Blockchain's Major Design Flaw.
Ethereum-enabled monetary localism – mutual credit networks, community tokens, circular economies, and other exotic programmable solutions to the problem of extra-local economic extraction.
Many future tokens may function as both usage and work tokens. When Ethereum switches from proof of work to proof of stake, ETH will be both a usage token (you need gas to use the EVM) and a work token (ETH gives you the right to validate transactions
software update with incentives for reducing energy consumption. “Oracle” mechanisms like that of reality.eth, which resulted in Kleros case 532, enable cryptoeconomic systems to take input from arbitrary phenomena that would otherwise be outside the ...
CryptoLaw Version B (ETH); (4) “SmartContracts” v. DumbContracts; etc. However, straight off the bat, the binary approach to thinking about CryptoLaw is flawed because law is not binary. We all know that flawed binary logics produce flawed legal And yet we ...
