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A platform is defined by its use cases. If great apps appear, the platform is judged a success. If not, the platform disappears into the dustbin of computer history. DAPPS look like normal apps. Ethereum made the UI building part familiar to developers used to deploying to the cloud.
Instead of deploying to AWS or another server farm, you deploy to Ethereum ie to a decentralized Blockchain. This is Hackathon territory. This is still really early days in the decentralization wave and the big winners have probably not yet even been conceived let alone launched. Here are three that look promising at the end user vunk ethereum mistakes — Slock.
Slock means Smart Lock. If you use AirBnB as a host or a guest, you discover that the lock is the key. In a traditional hotel you have a receptionist to give a key to a guest after confirming payment. If you stay with an AirBnB host you need to coordinate arrival time so that the host is there to let you in. That is a pain point for both parties. I first wrote about this emerging need in September after using AirBnB. On a more recent AirBnB visit, there was a lock controlled by some Samsung device that was unlocked by a number sent to me by my host via a text message.
That was an improvement. What if it was a smaller transaction, such as renting a bike or a washing machine? That is where Slock. Technically their code is deployed to a smart lock, using something like Rasberry Pi to build the smart lock.
The latter use case resonates and I will use this in the example. As the bike owner, you set the deposit price and the rental price.
As the bike renter, you pay the deposit and at the end of the rental period you get the deposit back minus the rental cost. The bike owner gets the rental money. All of this is done on the lock itself. It is a smart lock running a smart contract. There is no centralized service. I would love to use it when I visit cities. It is a decentralized prediction market. Prediction markets are nothing new. Nor are betting sites, which are simply a way to monetize a prediction.
I predict that Harry The Horse vunk ethereum mistakes win the 3. Augur will reward you for getting vunk ethereum mistakes prediction right. You could build a crowdsourced prediction market using your favorite programming language and bung it onto AWS.
Not being a video gamer, I tested the idea on a teenage gamer and from that sample of one got a big thumbs up. This illustrates the power of Blockchain to power almost anything. It can be the decentralized value exchange. Fiat currencies is the obvious mainstream example, but this also applies to AltCoins and Loyalty Points. The beauty of FreeMyVunk is that it starts in a market that young early adopters can relate to. There are many reasons why I have been an Ethereum fan since I spotted it during the summer of It vunk ethereum mistakes reasonably well on the 8 criteria that Daily Fintech Vunk ethereum mistakes suggests using vunk ethereum mistakes evaluate Blockchain platforms:.
Ethereum clearly has developer interest. Their recent DevCon in London had in physical attendance and 15, watching the livestream. However none of this matters unless we see real and useful apps.
The proof of the pudding is in the vunk ethereum mistakes, not in the ingredients or the instructions. The three that I reviewed vunk ethereum mistakes at the top of the stack. They are end user apps. You vunk ethereum mistakes I can envisage using them. There are others that sit in the middle of the stack. Vunk ethereum mistakes end user of these apps are more likely to be developers who build them into end user facing apps.
This could be called middleware but it nothing like the middleware that we think of in traditional centralized technology. The ones that look interesting are:. Their Dai Credit is a cryptobond that pays interest based on collateral which maybe something like Ether. This will vunk ethereum mistakes open source and so will be evaluated by any developer looking at Ethereum vunk ethereum mistakes an open source platform.
In the world of enterprise Blockchain, banks are building Proof of Concept apps using Permissioned Blockchains. These consumer apps go a stage further. The POC developer may get an internal audience of a few hundred people. We will have to wait and see which ones get to PMF, but conceptually they seem sound.
Bernard Lunn is a Fintech thought leader. It is extremely unusual for something radical to be adopted inside large companies. Since the Internet, the flow of innovation has been Consumer first and then Enterprise. That is why yesterday we reviewed the consumer oriented Vunk ethereum mistakes starting to appear on the Ethereum pla…. No, I have not bought Ether, so this is not a pump and dump post. It is wrong to look at it as Ether vs Bitcoin — it […]. You are commenting using your WordPress.
You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. January 5, May 11, Bernard Lunn. They can be shut down. That can happen for all kinds of reason — regulation, bankruptcy, fraud. Somebody has to report on what happened that triggers the payout. In many markets that is pretty obvious. I can see whether Harry The Horse won the 3. In the long tail you cannot rely on institutions to report.
The chance vunk ethereum mistakes the one expert trusted to report on the event being subject to fraud or mistakes is high. So you need a trustless decentralized network to do the reporting. The beauty of a decentralized prediction market is that it can cover so many more markets and events — as long as there are enough people reporting on that event to be statistically significant.
Augur enables the long tail of prediction markets. It scores reasonably well on the 8 criteria that Daily Fintech Advisers suggests using to evaluate Blockchain platforms: Platforms need enough funding to be properly developed and supported.
The motivation of the investors matters to developers vunk ethereum mistakes the long term, as it can force the platform in a direction that may not be in the interests of application developers. When selling trustless systems, the motivations of investors comes under the spotlight. The traditional VC model has been augmented by Currency Issues of some kind or another and these also raise motivation concerns.
Most of these platforms are open source. Some are aiming at a Red Hat type model. Others want to make money from a currency that they control.
Others want a piece of the application pie. Developers need to understand the commercial model and decide if they are vunk ethereum mistakes with it. Who do you need to trust? Some such as Ripple and Stellar require trust in a currency controlled by an institution. This can be a personal decision i.
Developers look for something that uses a choice of familiar languages and that abstracts the complexity of a decentralized network. Today vunk ethereum mistakes are in the experimentation phase where application developers are building their MVP and through this they are learning what is genuinely easy vunk ethereum mistakes use.
It is too early to tell. One hears theoretical arguments for different platforms, but we will have to wait until it is possible to have third party testing of apps on different platforms. Bitcoin, Alt or None: This is a heated debate at the moment. Some people critique Ethereum for attempting too much.
