Ethereum
$205.86 -0.23%
ETH · 57w

On the need for standardization in blockchain software development

On the need for standardization in blockchain software development

The world of blockchain today very much resembles the days where everyone would be building their own network on the internet without common standards, hence without guarantee of intercommunication capabilities.

Widely accepted standards are hard to be accepted as they seem not worth the effort, and the most difficult part is coordinating competing companies.

While this is very understandable as the market is very new, totally unregulated and everyone is looking to get the first-mover advantage, this makes communication between decentralized applications not so easy.

One further point is that developing decentralized applications on Ethereum requires thinking in terms of components and adopting a decentralized point of view, which is not so immediate for developers who are accustomed to server-based approaches.

Ethereum itself was born to collate between the different groups of blockchain developers trying to fix different problems without benefiting an underground generalized flexible architecture.

All of us who have been in crypto long enough have testified the advent of hundreds of coins born as a Bitcoin fork, for the sake of having “your own coin” or to (either marginally or substantially) improve the Bitcoin protocol. With that came hundreds of different blockchains which were doing more or less the same thing.

With Ethereum we have seen how one does not need to create his own blockchain, and can instead leverage on a public blockchain to create his own tokens. This is for sure a quantum leap (aka one huge step forward) towards a global financial markets made of tokens: after the token economy, we finally have the token-financial-world.

The beauty of inter-exchangeable, globally-transferable, no-national-barrier digital tokens has opened the door of hard-to-invest-in companies to virtually anyone, democratizing access and setting a standar...

Continue on medium.com
Recent news
ETH -0.23% · hacked.com · Now

Breakout Imminent

Hi Everyone, Huge congratulations to Canada for becoming the second country in the world to fully legalize marijuana! This is a huge milestone for this fascinating industry and in my personal opinion ...
ETH -0.23% · bitcoinist.com · 3h

Ledger Reveals 1.3 Million Units Sold

Cryptocurrency hardware wallet manufacturer Ledger has sold over 1.3 million units as of this month, the company revealed in a blog post October 10. Cryptocurrency hardware wallet manufacturer Ledger ...
15
ETH -0.23% · youtu.be · 7h

The Ultimate Guide to StableCoins

With Tether causing headlines lately, we've received lots of questions relating to stable coins, so I thought I would do an #AskNugget special outlining the ...
ETH -0.23% · ccn.com · 7h

First service bank in history of virtual currency

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or serv...
ETH -0.23% · medium.com · 13h

Rocket Pool 2.0 — The Next Generation

Today, hot on the heals of our 1.0 beta release, we at Rocket Pool are very happy to announce our new whitepaper for Rocket Pool 2.0 — a decentralised staking infrastructure service for Ethereum 2.0…
ETH -0.23% · medium.com · 14h

How We Grew Our Crypto App To 150k+ Daily Trades

A few days ago we had a momentous occasion for the Shrimpy team. We overtook a threshold of trading we didn’t expect to come so early. Operating a service that handles this volume of trades didn’t…
ETH -0.23% · blog.colony.io · 17h

Q4 2018 Update – Colony

At Colony, we use the OKR method for setting quarterly goals and keeping our distributed team of 22 in sync and accountable. Below is our quarterly report on Q3 and a look ahead at Q4 2018. We kicked…
12