How is Ethereum unique from Rippple, Mastercoin and other Bitcoin 2.0 applications.

cuddaloreappucuddaloreappu Member Posts: 20
Ripple can issue/create value in the ripple network.
Mastercoin protocol facilitates the creation and trading of smart properties and user currencies as well as other types of smart contracts.
Namecoin can also acts as an alternative, decentralized DNS.
Sidechain technology with two way pegging proposes a threat to existence of all altcoins.

How exactly does Ethereum show its uniqueness in this competing atmosphere for decentralization,apart from being a new programming platform on which anybody could work anything using Blockchain technology?

Comments

  • JasperJasper Eindhoven, the NetherlandsMember Posts: 514 ✭✭✭
    That is has a programming platform means it can do a lot that any other cryptocurrency can do, maybe even everything the others can do.

    Contracts can trustlessly communicate and extend each other, which you cant (easily?) do between for instance namecoin and bitcoin.

    Contracts are easier to implement, without dealing with the plumbing of the cryptocurrency. And it can be developed during an active blockchain, without forking.

    To be honest I do not know how much innovations like sidechains provide similar features. My impression is that sidechains arent worked out very far. With multiple currencies, you have to deal with exchange rates, ethereum can have the systems on the same currency.
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