I hope someone can help explain the reason for the rise if possible. I've tried searching online but all I find is old articles posted from 2014. Any comments anyone can provide will be greatly appreciated.
R3 has successfully tested five distinct blockchain technologies in parallel for the first time. Forty banks connected to a managed private distributed ledger technologies built by Chain, Eris Industries, Ethereum, IBM and Intel
Basically is a reaction to the last weeks news and announcementes. Microsoft azure BaaS have been the boost of this spike in price.
Now you can use a one click deploy app in MS Azure to have a ETH blockcahin based development enviroment. I think that this spike in price is just the begin and ETH can easily reach 100$ or more!
So when people find out that these big R3 institutions aren't going to use the actual Ethereum network, but run a fork of their permissioned Ethereum (or other) network, then that kinda defeats the purpose, doesn't it? Is there any reason for these banking institutions to run on the Ethereum network, if they could just run their own private one? I don't know
So when people find out that these big R3 institutions aren't going to use the actual Ethereum network, but run a fork of their permissioned Ethereum (or other) network, then that kinda defeats the purpose, doesn't it? Is there any reason for these banking institutions to run on the Ethereum network, if they could just run their own private one? I don't know
This is an interesting question.... are you saying they would basically take the same technology and use within their own network? Surely they see value in building and putting value in the bigger global network, especially if they own Ether, right?
That's the billion dollar question. Are they gonna use Ethereum's network and reap the benefits of a global decentralized and robust network. Or are they going to go back to centralized permissioned system with pseudo-benefits of blockchains, but still prone to hacking and again the need for gateways & controls & lots of monitoring. So they're not really innovating much if they use their own private network, they may have less "controls" than before, but still not doing away with them completely and prone to hacking.
And Catherine - that's what R3 already did. They did their blockchain tests using Ethereum's open source code, and copying the technology into their own private cloud network hosted by Microsoft Azure. Not sure if they did that for just testing purposes and will eventually migrate over to the Ethereum's network, or if they'll continue down the private/permissioned path. But if anybody knows the answer to this question, then they have insider information...
nice article covering' yuriygeorge's points. I'll admit i'm not an expert on the ethereum concept or network, it seems to really stand out from other altcoins in its functions that i don't even understand fully.
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Am I missing something? This seems like a pyramid scheme... How does this smart contract work? It l looks fishy to me...
Yes it is a pyramid smart contract running on the Ethereum blockchain. Ethereum runs smart contracts exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Participants' funds are never under the control of the creator, but are instead held by the smart contract. This is less about getting rich but more about demonstrating what an Ethereum smart contract can do. Where previously you would have needed a middleman, who has a lot of control over the process (maintains a list of participants, administers payouts, etc.), you can now have a programmable, transparent and incorruptible middleman on the blockchain.
Anyone can explain how Price of Ether is calculated? Is there a formula? I mean from where Exchanges like Kraken, Poloniex get the Price for Ether at some point?
Anyone can explain how Price of Ether is calculated? Is there a formula? I mean from where Exchanges like Kraken, Poloniex get the Price for Ether at some point?
In exchanges like Poloniex, Kraken, the price is determined by buy and sell order match. If a buy price can be matched with a sell price, then the price is set. The "last" price is the latest buy and sell orders matched.
For an index sites like etherpricing.com, it creates a global weighted average price from exchanges all over the world. This price is weighted by trading volume.
Basically, etherpricing.com collects 2 pieces of information from every exchanges: - "last" price - volume.
Comments
Now you can use a one click deploy app in MS Azure to have a ETH blockcahin based development enviroment.
I think that this spike in price is just the begin and ETH can easily reach 100$ or more!
nice article covering' yuriygeorge's points. I'll admit i'm not an expert on the ethereum concept or network, it seems to really stand out from other altcoins in its functions that i don't even understand fully.
http://www.newsbtc.com/2016/03/06/ethereum-knocks-on-wall-street/
looks fishy to me...
You can check the solidity source and verified smart contract at: https://live.ether.camp/account/e82719202e5965Cf5D9B6673B7503a3b92DE20be
My Dapp got also listed on http://dapps.ethercasts.com (only verified Dapps get listed there)
For an index sites like etherpricing.com, it creates a global weighted average price from exchanges all over the world. This price is weighted by trading volume.
Basically, etherpricing.com collects 2 pieces of information from every exchanges:
- "last" price
- volume.
The "last" price and volume used to derive the global average price is shown here: http://etherpricing.com/detail.html
Formula:
This page has an explanation of the index formula:
http://etherpricing.com/explain/explain.html
Hope this provides some explanation.