Enter the Ether
At this point, you’re probably familiar with, or have at least heard of, Ethereum. If you’re not, it is a quickly growing blockchain network. Many different things can be done using the Ethereum network, as it’s simply a platform for building any decentralized application (dApp), but it’s primarily being used to complete financial transactions of different kinds. However, it’s not just another way of sending money from one person to another person. It’s capable of far more than that.
As the New York Times explained in a recent article, Ethereum is gaining the interest of many top companies because of the more complex transactions that can be done on the network.
“Let’s say two companies want to conduct a complicated financial transaction, like settling a stock option. Neither company trusts the other company to conduct the transaction on its computers,” the Times wrote. “Both companies could hire a third party, like a stock exchange, to conduct the transaction, which is what they generally do today. But that forces them to trust that third company and to pay that company fees. With Ethereum, they can conduct the transaction on a shared computer that allows them both to check the records, ideally saving on fees.”
That’s just one of many complex transactions Etheruem can be useful for, which is why industry leaders are paying attention to it and trying to find ways to utilize it. There have been many intriguing headlines since Ethereum started becoming more popular this year. “Blockchain Used to Sell Real Estate For the First Time,” a recent Newsweek headline reads. “Ethereum First: Investment Product Opens for Trading on Nasdaq Exchange,” reads a CoinDesk headline. DJ Khaled is even on the Ethereum train
Discuss Ethereum at this upcoming event
With how quickly things are changing in the Ethereum world, it’s obviously difficult to keep up. One interesting event where people can learn about where Ethereum stands and where it’s heading is Ethereal SF. It’s a conference that will feature leading experts on Ethereum and also people like renowned futurist Peter Diamandis. It takes place October 27 at the Terra Gallery in San Francisco. Many are calling it the “SXSW of blockchain,” as it will also feature art installations, virtual reality experiences and more.
“Ethereal is a nexus for leaders in decentralizing technologies like Ethereum to come together with entrepreneurs, developers, and futurists to decide together how we want to build the next generation of the Internet – the next generation of our reality,” Amanda Gutterman, a co-creator of Ethereal and ConsenSys chief marketing officer, told Futurism. “We are on the verge of sweeping, global change, ushered in by the evolution of exponential technologies like blockchain. As one of the largest and fastest growing companies in the blockchain space, focused on building software on the Ethereum platform, ConsenSys is proud to play host to these important conversations at Ethereal and beyond.”
Leading up to this conference, there was a hackathon at UC Berkeley from October 21-22. The hackathon focused on “designing and building a blockchain-based governance system that takes advantage of Ethereum’s unique platform of identity, voting and asset transfer systems,” according to theEthereal website
Ethereal is being hosted by ConsenSys, which is a production studio that builds applications for blockchain networks. ConsenSys has been leading the way in the Ethereum world for nearly three years.
“At Ethereal we speak about building the Web 3.0, about harnessing blockchain technology to improve how our world works,” Gutterman said. “The Ethereal Hacakthon at UC Berekely was an opportunity to bring students and professionals together to design solutions in real life, today, on the powerful blockchain platform afforded by Ethereum.” She said she believes ConsenSys and its partners are “uniquely positioned” to guide those breaking into Ethereum.
If you’re interested in Ethereum or just like hearing the latest innovators talk about the future, come join us at Ethereal. There will be plenty there to keep you busy.