Country: USA  ETHEREUM
Year: 2015

  • Ethereum’s scale: its size and potential have made Ethereum one of the key players/heavyweights of the next generation of startups. Other blockchain startups such as Augur, Blockapps and HitFin use Ethereum’s technology. Should an insurance company wish to use the blockchain technology, Ethereum offers a comprehensive offer.
  • Difficult to apprehend: given its technical difficulty, Ethereum is still reserved for experts. An insurance company may want to use Consensys to efficiently leverage this technology.
  • Blockchain dilemma: before entering the Blockchain ecosystem, an insurance company needs to compare the different available Blockchain systems like Ethereum and other platforms.

Concept

  • As part of the next generation of blockchain startups, Ethereum plans to change the web by developing Decentralised Applications (DAPPs for short) which work without a centralised intermediary. Applications run exactly as programmed without any interference, fraud, censorship or downtime.
  • Ethereum is open-source and is developed by ETHDEV with contributions from all over the world.
  • Users can create contracts (pieces of codes), their own cryptocurrency, crowdfund projects, build new DAPPs, and more.

Consumer Benefits

  • Decentralised: Ethereum helps to simplify contracts by two parties, either peer to peer or machine to machine.
  • More than bitcoin: unlike other cryptocurrencies, Ethereum can release an unlimited amount of Ethers, which aim to create stability and equality. Its “Ethers” are used to create projects and users are rewarded in Ethers when adding new resources through mining.
  • Educational: there are many articles, blogs and forums with explanations on how to build, develop and trade using the tools.

How to use

  • Clients can open two types of account: an external one with a private key, or contracts which require ethers and « gas » to use.
  • Users need a knowledge of code such as HTML, Javascript, C++, Python, and higher level codes such as LLL, Serpent, and Mutan
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