RATE Group | Understanding Ethereum and its future – NextBigFuture.com
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Understanding Ethereum and its future – NextBigFuture.com

06 Aug Understanding Ethereum and its future – NextBigFuture.com

Posted at 23:45h in Ethereum News by

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The creator of Ethereum, Vitalik Buterin, talked about his vision for enabling global open platforms and positively impacting human economic coordination.

This will be via
* censorship resistance
* trust minimization
* decentralization
* Fraud Resistance
* Robustness

Vitalik discussed those goals and benefits in more detail after talking about Ethereum being vastly less efficient than regular computing.

Vitalik Buterin walked people through calculations of how Ethereum is one million times less efficient than Amazon EC2 for computing, network and storage at this time. Blockchains are NOT for simple raw efficiency.

Ethereum World Computer costs 1.4 million times more than Amazon EC2 Cloud for computation/h2>

Looking at Amazon EC2 (cloud) pricing. The computing cost is currently about 4 cents per hour.

The cost an Ethereum block is about $13.40. An Ethereum block is processed in 200 milliseconds. An hour of Ethereum computing is 18,000 times more.

One hour of Ethereum computing is 1.4…

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