Context : AlternativesToCompanies, VirtualNations

Software platform that uses BitCoin-like BlockChain to manage distributed knowledge. Runs SmartContracts

Created and project managed by VitalikButerin

Could, in theory provide distributed contracts that would allow corporations to exist independent of government regulation. Could therefore counter my argument that Capitalism needs government. OnLibertarianism


A VinayGupta talk ... he's currently working with Ethereum.

Criticism (Specifically of Ethereum]]):

  • No one needs Turing Complete smart-contracts :
    • the requirement (trustably decentral computation) doesn't justify the extra overhead (ie. extra processing on all the nodes)
    • meanwhile it can't be fully trustworthy because you rely on oracles which can in principle be bribed by other smart-contracts.

Compare : AgainstCryptoCurrencies

Added 2017-11-11 :

TheDAO was a major hack, a smart-contract that managed to steal money on the Ethereum blockchain.

Bookmarked 2021-05-19T15:48:13.854625

Bookmarked at 2022-05-26T17:48:57.889237