Chapter
The Formation of Ethereum and Smart Contracts
21:45 - 33:41 (11:55)
Ethereum was founded during a time when people were beginning to realize the potential of blockchain beyond just running a currency. With a programming language, developers could build unique systems that could be executed by nodes in a network, allowing rules to be enforced collaboratively. Smart contracts can be used for various applications, including contracts for difference, decentralized file storage, and organizations where the rules for decision-making can be written as rules in a smart contract.
Clips
Justin Sun took control of the platform called Steam and seized control of its formal rules, which lead to dissatisfaction in the community.
21:45 - 25:20 (03:34)
Summary
Justin Sun took control of the platform called Steam and seized control of its formal rules, which lead to dissatisfaction in the community. However, the community changed the platform to Hive after he lost their trust.
ChapterThe Formation of Ethereum and Smart Contracts
Episode#504: Vitalik Buterin, Creator of Ethereum, on Understanding Ethereum, ETH vs. BTC, ETH2, Scaling Plans and Timelines, NFTs, Future Considerations, Life Extension, and More (Featuring Naval Ravikant)
PodcastThe Tim Ferriss Show
The decentralization aspect of the blockchain allows for the creation of competitor versions of a misbehaving project, which differs from centralized organizations like WordPress, where each user owns their own blog.
25:20 - 28:10 (02:50)
Summary
The decentralization aspect of the blockchain allows for the creation of competitor versions of a misbehaving project, which differs from centralized organizations like WordPress, where each user owns their own blog.
ChapterThe Formation of Ethereum and Smart Contracts
Episode#504: Vitalik Buterin, Creator of Ethereum, on Understanding Ethereum, ETH vs. BTC, ETH2, Scaling Plans and Timelines, NFTs, Future Considerations, Life Extension, and More (Featuring Naval Ravikant)
PodcastThe Tim Ferriss Show
The concept of a general-purpose blockchain is to enable a blockchain to support a programming language and any system with any rules.
28:10 - 30:59 (02:48)
Summary
The concept of a general-purpose blockchain is to enable a blockchain to support a programming language and any system with any rules. This would allow for the creation of multiple applications on the same blockchain, giving a wide range of options to developers.
ChapterThe Formation of Ethereum and Smart Contracts
Episode#504: Vitalik Buterin, Creator of Ethereum, on Understanding Ethereum, ETH vs. BTC, ETH2, Scaling Plans and Timelines, NFTs, Future Considerations, Life Extension, and More (Featuring Naval Ravikant)
PodcastThe Tim Ferriss Show
The idea of building an organization where decision-making rules can be written as smart contract rules is gaining popularity.
30:59 - 33:41 (02:42)
Summary
The idea of building an organization where decision-making rules can be written as smart contract rules is gaining popularity. Examples of this include DAOs such as MakerDAO and NFTs representing digital art and video game assets.