What can Ethereum do? Tesla boss seems to be very interested

Everyone should have sent a Twitter and Weibo with only one word in the past few days. The people in the currency circle are very busy, because the word is not outside the currency. But the people of the currency circle must know the words: Ethereum, Ethereum.

The word Ethereum is different from Bitcoin. Bitcoin can now be said to be known to people inside and outside the currency circle, whether or not they know it, but at least know the existence of Bitcoin. But in the Ethereum, people who understand the cryptocurrency and blockchain must know Ethereum, but the probability of a big person who doesn't know is not known to Ethereum.

For many people, Ethereum is actually more representative of the word "blockchain" than Bitcoin. Ethereum has hatched many blockchain projects, and it has become the most imitated object in the IC0 wave. It is also the imitation object of various chains such as “union chain”. At the same time, Ethere has also made various ecological aspects. Decentralization attempts, such as decentralized applications, decentralized finance, decentralized games, etc., what Ethereum can do, in fact, largely represents what the blockchain can do, but some later They think they can do better than Ethereum.

When Musk mentioned Ethereum, the founder of Ethereum Vitalik naturally responded, and this also started a new question. Musk raised this question: What should be developed in Ethereum?

V God seriously replied to this "real version of Iron Man" blockchain curiosity, divided into five points, on the V God's reply I directly used the "Blue Fox Notes" translation.

1. A financial system that is accessible globally, including payments, value storage, and some more advanced things, such as insurance (hurricaneguard.io);

Identity authentication, "Login with Facebook" -> "Used in the Taifangfang account login, no intermediate party", but also a trust network.

two,

1. All registrations should be posted on the chain, which is both safe and easy to verify;

2. Test new forms of human tissue structure, such as: MolochDAO;

3. Various micropayment use cases through the payment channel.

three,

1. The machine that can protect personal privacy learns the personal data market (you and I send X amount of money, I let you perform the homomorphic processing function Y on my data, and my data has been proved by Z);

2. Use encryption economics to prevent spam in social networks.

four,

1. Encryption Economics / Micropayment mechanism for rewarding content contributors;

2. Test sites designed for new markets, such as high-frequency batch auctions, combined auctions, and automated market makers (such as uniswap);

3. Stickers/badges (for example, donating a certain amount of ETH for charity purposes, getting a brand sticker, and presenting it in various applications such as ETH chat.).

Fives,

1. P2P market for network connectivity and incentive grid networks;

2. Develop identity, reputation and credit systems, mainly for those with limited resources, such as refugees;

3. Decentralized DNS alternatives (eg, ens.domains).

From the reply of V God, we can see what he thinks is the current direction and application of Ethereum. In the inside, we can't see the dapp, the game, and all kinds of swaying blockchains, and some are just simple decentralization, de-intermediation, and Token economy.

Although the answer is what Ethereum can do, but in its implementation stage, the Ethereum as the first public chain basically represents what the decentralized public chain can do.

Although we all say that cryptocurrencies can change the world, this has to be done step by step. The pace of Bitcoin is particularly large, and it is directly hoped that the revolutionary currency, the foundation of traditional finance, will naturally lead to the enthusiasm of believers, who do not believe in it. This is actually the same as the Internet bubble of the year, but today, although everyone will miss the world without Internet, it is certainly inseparable from the Internet.

The reason why we can't do without the Internet is not how good the concept of the Internet is, or how much money the Internet has made, but the Internet has really changed people's lifestyles with one product after another.

Similarly, for the cryptocurrency/blockchain, while changing the world, it is more important to make one product after another, so that people can truly feel the development of the blockchain can make people's lives. Produce a positive change.

For example, asset storage and payment that have been successfully verified (that is, "coin is valuable" has a great consensus), such as the way to verify as an authentication method, as a means of content incentives, as a network. The way to motivate and connect, the way to be a credibility, the credit system, the way to provide refugees with identity (the United Nations is doing this attempt), the way to protect privacy, etc…

Many people say that the blockchain is a speculative coin. In fact, he only saw the aspect of speculation. As for many people, listed companies are used to stocks, which is no problem? It is not a bad thing to speculate on the coin. On the contrary, I think it is a good way for Token to guarantee liquidity. As long as there is a sudden increase and decline in the things that can be speculated, this is human nature, but if you think that the blockchain is meaningless because you lose money in the market, then you may miss a very important thing.

A thing that can change the future.

Attachment: Related links posted in Vitalik's answer:

1, https://twitter.com/vitalikbuterin/status/1072158957999771648

2, https://ethresear.ch/t/prediction-markets-for-content-curation-daos/1312

3, https://twitter.com/VitalikButerin/status/939489302869770240

4, https://ens.domains/

Author: William Chen