Etherum project - a Link protocol clone?
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Just came across the Etherum project.
Is this something very similar to the Link protocol?
What is your opinion on this?http://ethereum.org/
http://www.youtube.com/watch?v=q5FDvzj8YX4&feature=share -
It was an interesting paper, but it looks like another coin?. Link is a way of using current block chains to add addition functionality, without the new coin and all the extra database fields?
Also the contract scripting language sounds interesting to get involved with and would be possibly back portable to a meta layer to current currencies.
I wonder if they know about Link works and how they could do some of this stuff now?
Great find rep +
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Clone? I think lots of people have been working on this, [url=http://invictus-innovations.com/]Invictus Innovation[/url] & Mastercoin for example. Money was just the first app. Right now the struggle is to find out whether there should be one network or many networks. What exactly is it that is decentralised, the implementation of a protocol or the idea itself. I would argue its the idea. Which is why I think Wrapper’s [url=http://forum.feathercoin.com/index.php/topic,6956.msg54120.html#msg54120]Advanced Averaging proposal[/url] has so much potential.
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Now I’ve watched the video, I’m pretty sure the contract update script could be run from an encrypted torrent and stored outside the blockchain. Maybe it could be visible with a wallet add-on.
“Link - contract” would set it up for you, and index proof of contract, test eligibility to update a contract, run the script, encrypted torrent file gets updated.
Etherium is a new coin. It has a flexible script feature. Hopefully that script language is open source and a member or student project can update “Link” to show how contracts can be handled, now.
The beauty of using an established coin to do this, as Kevlar has developed, is that you are paying for security.
Feathercoin is just a coin, miners are paid for a simple calculation which sustains the network. They are making money so they are insensitive to do that work and that gives the security…
There is no incentive in this coin for miners to do your work for you.
In open source philosophy these 2 functions (currency and contract system) should be separated, but be able to work together.
