Toronto Ethereum UpdatePaul Paschos

Toronto Ethereum Meetup November 5th, 2014

Overview

• What is Decentralization?

• What is Ethereum?

• Ethereum Use Cases

• Project Update

• How to get Involved

What is Decentralization?

• Decentralization is the process of redistributing or dispersing functions, powers, people or things away from a central location or authority.

• Decentralization enables disintermediation (it cuts out the middleman)

• Decentralization eliminates inefficiencies inherent to centralized institutions

What is Ethereum?• Ethereum is a technology platform for decentralization

• Ethereum enables the creation of decentralized apps or “dapps”

• Scope: Apps run on the whole of the Internet

• Combines blockchain technology + smart contracts (self-executing, self-enforcing agreements)

• Ethereum blockchain enables automated consensus between parties of a contract

• Decentralization on a large scale

• Creation of The Decentralized Web (“Web 3”, “The web without servers”)

–Stephan Tual, Ethereum Communications

“By democratizing access to programmable blockchain technology, Ethereum empowers software developers and

entrepreneurs to make a major impact on not only the decentralization of the economy, but also social structures, voting

mechanisms and so much more”

Example Use Cases• Decentralized Sharing Economies (Airbnb, Uber)

• Decentralized Registrars (ICANN, Namecoin, Land Registries)

• Decentralized Data Storage (Dropbox)

• Decentralized Insurance & Gaming

• Create Virtual Currencies (Bitcoin, Litecoin)

• Digital Proxy Currencies (‘Goldcoin’, ‘USDcoin’)

• Financial Instruments (Derivatives)

• Contracts, Law & Escrow

What’s New?

New Support for Developers• New Website: Dynamic streamlined content, information and

resources are easier to find

• Building a Curriculum

• Tutorials, Videos and Articles

• CodeAcademy-like site

• Global Hackathons

–Vitalik Buterin, Ethereum Inventor

Mining Update “For Ethereum 1.0, we consider it highly desirable to both not excessively delay the release and not try too many untested

features at once; hence, we will likely stick with ASIC-resistant proof of work, perhaps with non-Slasher proof of activity as an addon, and look at moving to a more comprehensive proof of

stake model over time.”

– Gavin Wood, ÐΞV

Ethereum Launch

“ÐΞV, at present, has one mission: the completion of version 1.0 of the Ethereum client software which will enable the release of

the genesis block. This will be done as soon as possible, though we will release the genesis block only when we (and many others

in the security world) are happy that it is safe to do so.”

Getting to Ethereum 1.01. PoC 7 released (at most PoC 8)

2. Protocol finalized and frozen

3. Alpha release series will be begin

4. Internal and External Security Audit Begins (starting around December 1st - December 14th)

*** Whisper, Solidity, Mist, core Ðapps all developed concurrently ***

Ethereum 1.0: What’s Included

• Basic Contract Development Environment (Ethereum Client)

• Advanced Ðapp Client Based on Google’s Chromium Browser Technology (Ethereum browser called “Mist”)

• Several core Ðapps

• Command-line tools

*** Estimated Ethereum Launch Date *** Between December 21st and March

21st

How to get involved• www.ethereum.org

• Ethereum Forums

• Reddit Community r/ethereum

• IRC #ethereum and #ethereum-dev

• Join the Toronto Ethereum Meetup Group (Search “Toronto Ethereum” )

How to get involved

Calling all local Toronto Developers & Entrepreneurs Are you interested in creating Decentralized Apps on Ethereum?

Indicate your interest and find others interested at

http://bit.ly/torontoethereum