“Smart Contract” is a new software terminology developed and promoted by public blockchains. It is one of the most successful and utilized applications of blockchain technology.
Even if a smart contract can be built on multiple blockchain platforms, smart contracts are one of the main products of Ethereum blockchain, the second-largest blockchain currently in place. Ethereum features a “Turing-completeness” language (Solidity) that serves the creation and deployment of customized smart contracts. If it ensures greater flexibility, on the other hand, there is not a fix and certain pre-testable output, resulting in a more risky outcome.
Ethereum is also a blockchain platform where other decentralized applications can be built on. Ethereum fuel is called “Ether”, the cryptocurrency used to pay for transactions. …
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Blockchain technology has attracted the attention of many companies, investors and people since its inception, especially due to all the solutions and the possibility it brought up.
The Bitcoin main idea and, more widely, the idea of a digital decentralized peer-to-peer system was such a breakthrough that has exposed all the benefits from the decentralized system, especially in contrast with the established centralized systems.
The rise of blockchain brought the discussion on another level, focusing on what decentralization truly means — a clear definition-, what it entails, which are the benefits and the winning points. …
Last week the new ERC-1155 Multi-Token Standard was officially adopted by Ethereum and recognized as a token standard, exactly one year after its introduction to the Ethereum community.
ERC-1155 is considered as one of the most innovative token standards, it allows to mint fungible and not fungible tokens in a more efficient way.
The idea was promoted by Enjin, an IT company focused mainly on gaming, founded in 2009, with a network of more than 20 million users.
The first version was proposed to Ethereum’s Github repository as EIP (Ethereum Improvement Proposal) on June 17, 2018. …