Ethereum
$202.68 -1.24%
ETH · 66w

Unlocking the Potential of Ethereum and the Blockchain

Unlocking the Potential of Ethereum and the Blockchain

Last week, BlockMason released its first protocol for the Ethereum ecosystem: Foundation. I won’t get too technical ( you can read our Whitepaper for that), but Mama Mason and I thought it would be good if we all ate some pie down by the fireplace and had a casual chat about how Foundation works, why we believe in it, and our vision for its future.

Right now, Ethereum is complicated. Despite relatively few usable applications, the network boasts an ever proliferating number of options for interacting with programs, executing transactions, and storing ether.

Increasingly, people are entering the Ethereum universe hoping for quick financial gain — capitalizing on volatile markets and easy currency exchange — but they’re often stumped at the first question: which crypto wallet should you use? The slickly designed Jaxx Ice Cube, which boasts a hardware component, or Mist, which features direct integration of Dapps, or Coinbase, which boasts a built-in cryptocurrency exchange. The answer, of course, depends on your purpose — are you looking to trade crypto, store it, or use it to interact with the ecosystem? Each wallet, address, and browser has its own strengths and weaknesses, meaning the real answer is that you probably want several different choices for storing or moving your ether.

This proliferation of options, besides being a barrier to entering the community, also decreases user flexibility when multiple wallets and and browsers are not compatible or effectively integrated. If a particular application relies on your Ethereum address to identify you, it locks you in to using that address in the future. Let’s say you’re signed into an app through Metamask on your computer, and you want to access the same application with a different account you own on your phone through Status. Right now, that type of simple switch between addresses you already own is impossible, greatly reducing...

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