Greetings! Love what you guys are doing! Have questions!

VoR0220VoR0220 Member Posts: 11
I'm trying to understand ethereum more clearly. I understand that it is a scripting language, but that it also runs on top of the blockchain. I think this is beyond neat. However, I have a couple questions regarding how a dApp works. Is a dApp its own blockchain that is communicating with the main ethereum blockchain? Can smart contracts be constrained to a certain dApp within the dApp network, and then be free for contracts on the Ethereum blockchain? Is there the potential for somebody to run a DPOS set up on the ethereum blockchain?

Once again, thanks for answering my questions. I really think this thing is going to be big.

Comments

  • mids106mids106 Member Posts: 188 ✭✭✭
    For Ethereum 1.0:
    A DApp will typically consist of a (javascript) frontend application typically interacting with contracts on the Ethereum blockchain and/or the Whisper messaging system. Frontends could interact with multiple contracts (even competing implementations) and vice versa. The frontend assets will still be centrally stored / distributed (unless Swarm is available in time). DPOS could be implemented as a contract on the Ethereum blockchain, though will not be universally used by (all) miners.

    Beyond 1.0:
    There is discussion of multichain support, where you can have multiple dapp and/or feature specific chains. Possibly a Proof of Stake mechanism will be used instead of Proof of Work. Everything goes.
  • VoR0220VoR0220 Member Posts: 11
    Hmmm...I have an idea for DApp/DAC...it's based on the DPOS consensus mechanism, but I just hate Bitshare's way of handling assets and "derivatives" (burning currency...not something I'm big on). I really like the Ethereum smart contract set up. I think this is really cool. But here's the thing. How would one go about raising startup money for a business to make a DApp if one did not own ether? Is this possible?
  • mids106mids106 Member Posts: 188 ✭✭✭
    @VoR0220‌ you can still try to raise startup money using "traditional" means. On the current testnet you can easily mine some test ether for development purposes. Only once you want to create / use some Ethereum contracts on the production network you'll need to first buy/earn ether.
  • VoR0220VoR0220 Member Posts: 11
    So I could still go ahead and do an IPO of a currency that functions in a DApp? If that's what you are telling me, that is interesting...go live for the project is in March, correct?
  • mids106mids106 Member Posts: 188 ✭✭✭
    @VoR0220‌ I mean that you can ask your mother for a loan, or run a kickstarter campaign to raise money for the development of your DApp. Both ways don't require you to have any Ether.
  • VoR0220VoR0220 Member Posts: 11
    So am I to understand that the front page of the website where it says that you can write your own currency is not referencing a cryptocurrency but an abstraction of a currency that can be contracted for?
  • VoR0220VoR0220 Member Posts: 11
    I mean a cryptocurrency that the creator can initially distribute while being tied to something?
  • mids106mids106 Member Posts: 188 ✭✭✭
    You can create currencies with whatever design & rules you can come up with. Here are a couple examples:

    a simple fixed distribution currency:
    https://github.com/etherex/etherex/blob/master/contracts/etx.se

    cryptocurrencies with build in proof-of-work mining:
    https://github.com/obscuren/jeffcoin/blob/master/contract.mu
    https://github.com/ethereum/dapp-bin/blob/master/coin/coin.lll

    more complex currency design with negative interest & stake based wealth redistribution:
    https://github.com/ethereum/serpent/blob/develop/examples/mutuala.se

    etc.
  • VoR0220VoR0220 Member Posts: 11
    ah, alright, but they are all processed and handled by the main ethereum blockchain? And I'm able to write whatever my heart desires so long as I have the ether to make sure that code in a smart contract executes?
  • SmithgiftSmithgift Member Posts: 64
    VoR0220 said:

    ah, alright, but they are all processed and handled by the main ethereum blockchain? And I'm able to write whatever my heart desires so long as I have the ether to make sure that code in a smart contract executes?

    Actually, it's whoever pays for the contract's execution at the moment pays the ether. So a popular contract costs you, the creator, no more than if it was unpopular.
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    VoR0220 said:

    ... Is a dApp its own blockchain that is communicating with the main ethereum blockchain? Can smart contracts be constrained to a certain dApp within the dApp network, and then be free for contracts on the Ethereum blockchain?...

    Check out the Eris website. Their model is for application or organisation specific blockchains which have customisable genesis blocks. These customisations can determine things like mining and contract execution pricing, initial accounts and balances and such.

    I kind of think of Eris as being a decentralised intranet to Ethereum's decentralised internet.

    Preston Byrne's interview on epicenterbitcoin channel from a couple of weeks ago explains it better...


    Vitalik also gave a talk on his visions for Ethereum 2.0 and has multiple blockchains in mind...



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