BLOCKCHAIN FOR NEWBIES
The world of Ethereum exists beyond just its native asset, Ether. Indeed, many of the major public blockchain projects with their own token run atop the Ethereum network. However, the vast majority of these still use just one standard, the ERC-20.
There are actually many other token standards, each with their own unique characteristics. Some are extensions or improvements upon the existing ERC-20, while others have completely distinct features and applications.
In this guide, we take a look at many different token standards, including some very new and cutting-edge ones.
Sharding could be the key to allowing blockchains to scale, while maintaining the privacy and security features that make the distributed ledger technology so hot. But there are hurdles that need to be addressed.
Security of smart contracts is still a crucial challenge: we all remember the DAO, parity hacks, a bunch of smaller attacks and the most recent delayed hard fork.
What about if behind every responsible piece of code stands pure solid mathematics instead of personal conviction of developers? With formal verification tools for Ethereum finally maturing, it is now not only possible but also practical.
In this and following post we will be getting step by step into the world of K-framework, which allows to formally verify EVM smart contracts.
If you’ve tried developing a smart contract on the Ethereum blockchain, or have been in the space for a while, you might have come across the term “EVM”, short for Ethereum Virtual Machine. Virtual machines are essentially creating a level of abstraction between the executing code and the executing machine. This layer is needed to improve the portability of software, as well as making sure applications are separated from each other, and separated from their host.
Smart contract security is a big issue that smart contracts face. Smart contracts ensure the security of the transactions are free from the risk of ambiguous interpretation of the conditions, as they are based on cryptography, but there are still problems that can’t be solved with smart contracts. To develop smart contracts is certainly not a free picnic. A bug introduced in the smart contract code can cost money and most likely not only your money but also other people’s as well. The reality is that the Ethereum ecosystem is still in its infancy but growing and standards are continuously being defined and redefined by the day so you need to always be updated about smart contract security features. This article provides a baseline knowledge of security considerations for intermediate Solidity developers.
One problem that concerns many is the centralization of mining within the Bitcoin ecosystem. Fortunately, there are talented developers working to solve this problem and Matt Corallo, full-time Bitcoin developer at Chaincode Labs, is one of them. His BetterHash Mining Protocol is intended to significantly decrease the problems associated with mining pool centralization.
Bitcoin users may, before long, be able to benefit from a trick called “Taproot.” First proposed by Bitcoin Core contributor and former Blockstream CTO Gregory Maxwell, Taproot would expand on Bitcoin’s smart contract flexibility, while offering more privacy in doing so.