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On Public and Private Blockchains

Posted byuserVitalik Buterin on August 7th, 2015.

Over the last year the concept of “private blockchains” has become very popular in the broader blockchain technology discussion. Essentially, instead of having a fully public and uncontrolled network and state machine secured by cryptoeconomics (eg. proof of work, proof of stake), it is also possible to create a system where access permissions are more […]

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Visions, Part 2: The Problem of Trust

Posted byuserVitalik Buterin on April 27th, 2015.

Special thanks to: Robert Sams, Gavin Wood, Mark Karpeles and countless cryptocurrency critics on online forums for helping to develop the thoughts behind this article If you were to ask the average cryptocurrency or blockchain enthusiast what the key single fundamental advantage of the technology is, there is a high chance that they will give […]

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Visions, Part 1: The Value of Blockchain Technology

Posted byuserVitalik Buterin on April 13th, 2015.

One of the questions that has perhaps been central to my own research in blockchain technology is: ultimately, what is it even useful for? Why do we need blockchains for anything, what kinds of services should be run on blockchain-like architectures, and why specifically should services be run on blockchains instead of just living on […]

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Ethereum Builders: Tapping Into The Collaborative Potential

Posted byuserMihai Alisie on April 6th, 2015.

Hello, fellow Ethereans. I am Mihai Alisie, one of the Ethereum founders, and for the past year I’ve served as the vice president of the Ethereum Foundation and as director of Ethereum Switzerland. During the last few months I’ve been researching and testing a number of collaborative tools, constantly assessing the usefulness and applicability of […]

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Superrationality and DAOs

Posted byuserVitalik Buterin on January 23rd, 2015.

Warning: this post contains crazy ideas. Myself describing a crazy idea should NOT be construed as implying that (i) I am certain that the idea is correct/viable, (ii) I have an even >50% probability estimate that the idea is correct/viable, or that (iii) “Ethereum” endorses any of this in any way. One of the common […]

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Software and Bounded Rationality

Posted byuserVitalik Buterin on September 2nd, 2014.

One of the key properties that is usually sought for in a cryptoeconomic algorithm, whether a blockchain consensus algorithm such a proof of work or proof of stake, a reputation system or a trading process for something like data transmission or file storage, is the ideal of incentive-compatibility – the idea that it should be […]