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Blockchain meetup sponsored by Empirica, Wroclaw

Monday June 19th a beautiful sunny day in IT-friendly Wroclaw, tech start-ups and cryptocurrency enthusiast gather together at IT corner Tech meetup, sponsored by Empirica.

The event was planned to focus on key areas of current trends in Blockchain and Ethereum.

The event began with Mr Wojciech Rokosz, Ardeo CEO presentation. The session was dedicated to introduction to the economics of token. Explaining the new changes and updates we are and we will face in our economy with this huge entrance of virtual currencies.

The event later carried on with Mr Marek Kotewicz on introduction to Blockchain, Bitcoin and Ethereum. The session was summarizing the differences between Bitcoin and Ethereum.

The third and last part of the event was conducted with Mr Tomek Drwga, Blockchain meetup organizer,  diving deeper into smart contracts and programming ( introduction to Solidity) for Ethereum.

The event ended with open discussion between the audience and speakers, and visitors were served with beverages.

 

Ethereum Becoming the New Platform for Startups

Why is Ethereum bringing so many new startup businesses? Is Ethereum Becoming the New Platform for Startups?
The recent rise in value of Ethereum has flipped it to more than a billion dollar capitalization and next just to Bitcoin. Its worth is more than four occasions the worth of the third place crypto-currency, XRP. .

Ethereum was produced by Vitalik Buterin, a college dropout who although enthusiased from the potential for Bitcoin, felt that there may be a much better stage. Buterin, that has been compared to Steve Jobs, feels that his invention gives a strong platform for others to develop on and produce strong applications.

Buterin recently released his first production-ready version of Ethereum but even before this release, there had been a rush of startups to utilize the open platform and create blockchain based companies for new services and products, or to encouraging their existing companies.

“We’ve seen Microsoft and IBM doing projects on Ethereum. There’s a lot of coders. It’s fascinating to see something you were in on in the early phases growing and bearing fruit,” Anthony Di Iorio, one of Ethereum’s founders and a Chief Digital Officer at the Toronto Stock Exchange, said in an interview.

In 2015, there was a rush of venture capital into Bitcoin and Blockchain companies. This season, the potential and impact for Ethereum is seeing venture cash coming in especially targeted to Ethereum based startups.

Two leading venture capital companies, Boost VC, along with Blockchain Capital, are both taking a closer look at Ethereum companies.

Boost VC is obviously signaling their interest in Ethereum companies by stressing the cohesiveness of the developers and the powerful leadership exhibited by Buterin. Brock Pierce, founder of Blockchain Capital indicates that his firm is currently looking past Bitcoin for startups this year, stating, “you are likely to see that the usage of different blockchains beyond Bitcoin, such as these permissioned ledgers that a whole lot of financial institutions are interested in, but also even other people blockchains like Ethereum.”

One startup that has many people excited is Augur, that is constructing a prediction modeling system that is made on Ethereum.

Venture money is also moving towards Ethereum mining pools such as BTCS. Charles Allen, CEO of bitcoin mining outfit BTCS, noted that his firm recently constructed custom Ethereum mining rigs as part of a pilot program due to the escalating cost of ether.

Among the top crowdfunding sites for Blockchain related ventures is BnktotheFuture, which has helped to fund companies such as Factom and Bitpay, recently raised money for an Ether mining finance.

The billion dollar capitalization of Ethereum has clearly increased its profile and possibility of its currency, Ether as a powerful form of currency and investment.

We are guaranteed to see different startups and companies that will recognize this fact and provide investing abilities to exploit the possibility of Ether as a currency.

The growth and interest in Ethereum is making it clear that the conversation about cryptocurrencies can no more be limited to Bitcoin. As more startups and cash continue to chase the potential of Ethereum it is imperative that anybody following the electronic currency space needs to keep up to date to what is going on with Ethereum.

Ethereum is a open-source, public, blockchain-established distributed computing platform comprising intelligent contract (scripting) functionality. Ethereum additionally supplies a cryptocurrency token known as “ether”, which is transferred between accounts and utilized to compensate participant nodes for computations performed. “Gas”, an internal trade pricing mechanism, is utilized to mitigate spam and allocate resources on the network.

Ethereum becoming a top target for hackers

Ethereum has become a top target for hackers.

The promising cryptocurrency that’s also a stage for decentralized software has dropped in value during the last six months (although it also had a serious drop in price in the past couple of months). But hacker attacks and theft of ether are very commonplace, and the last one is one of the worst so far.

An unknown hacker or a bunch of hackers exploited a vulnerability in the manner by that Parity, an Ethereum wallet, executed multi-sig wallets, stealing some 153,000 value of ether, which was valued around $32 million in the time of theft.

According to a security alert on the Parity blog dated July 19, the vulnerability was fixed, but “any user with resources in a multi-sig pocket made in Parity Wallet prior to 19/07/17 23:14:56 CEST,” was exposed to ether theft.

The thieving has indeed happened and it could be seen on Ethereum’s blockchain here. And additional funds were stolen from other companies such as Edgeless Casino and Aeternity.

A multi-sig wallet is a wallet which needs more than one touch for a task to be performed on its own contents. Users who had regular wallets on Parity were not in danger (incidentally, the author of this text has until recently held some ether at a Parity wallet, but maybe not a multi-sig one).

What makes this theft particularly troublesome is that Parity is among the most trusted pockets at the company. The business was founded by Gavin Wood, who’s also a co-founder of Ethereum and has composed the first implementation of Ethereum back in 2014. What’s more, it seems that no quantity of caution on the consumers’ side could have prevented the theft.

Those transactions can be viewed here. The group has promised to return the capital to their owners once the vulnerability is fixed.

His isn’t even the first ether theft this week. On Tuesday, a first coin offering (ICO) of an Ethereum-based startup called CoinDash went south as hackers managed to change the wallet speech on the project’s webpage, siphoning away more than $10 million value of ether.

To repair the harm, Ethereum’s management decided to create a tough fork in the software, undoing the theft but also splitting Ethereum to two separate cryptocoins: Ethereum and (today far less precious) Ethereum Classic.

 

Ethereum is a system and programming language which makes it possible for any developer to construct and release next-generation decentralized software.  In summary: Ethereum is your internet, with no web servers. Ethereum may be used to codify, decentralize, protected and exchange just about anything: voting, domains, financial markets, crowdfunding, business governance, contracts and arrangements of most form, intellectual property, as well as wise property as a result of hardware integration.