Fork and scalability

Since the recent hard fork, the difficulty and reward for mining were adjusted. On the 18 of October, the Ethereum network managed to process more than  500K transactions, around 5,000 more than its previous high, as usage has seemingly considerably increased in the previous months.

With the network now almost instantly confirming transactions in just 15 seconds, Ethereum is one of the fastest decentralized public blockchain.

What is awesome is not only the decentralized network is faster to process and verify transactions, the price also had a diet. As the network is able to clear the queue of pending transactions, the price you need to use as gas drastically decreased to $0.006 which is awesome considering an Ethereum transaction can carry any amount of money through the world.

Scalability is an important parameter when you’re developing solutions based on the blockchain and the Ethereum technology is moving in the right direction with the development of solutions able to scale as networks like banks in the future.

We definitely expect the amount of transactions to grow due to the adoption of the technology by big institutions and the release of decentralized applications (Dapp) that were founded in the recent ICOs. In the following weeks and months, working on the amount of transactions per day is an important problem and the Ethereum team and contributors should be proud of their hard work! (and hard fork)

An introduction to Plasma

As you may know, blockchains are not as effective for processing an enormous amount of transactions as a centralised system like the VISA network that can handle as more as 2,000 transactions per second. Plasma is a scalability solution for blockchains. The Plasma solution was proposed this year by Joseph Poon and Vitalik Buterin. This interesting talk explains how Plasma works and shows how smart contracts can be implemented on such a system. It also explains why not all contracts are suitable as is. Primitives for the programming language Solidity are suggested that could ease cross-chain communications in such systems.

You can find the Plasma white paper and more informations on plasma.io.

The talk was held by Christian Reitwiessner who is working at the Ethereum Fondation and is the creator of the Solidity programing language used fo developing Ethereum smart contracts. You can find the slides of the talks here and the text version of the talk here.

We are excited to see the future of the Plasma technology.

 

ETHWaterloo hackathon was awesome

ETHWaterloo is the world’s largest Ethereum hackathon of 2017, where over 300 developers of all backgrounds worked on projects using Ethereum that can have an impact on the world. Teams to make something great in only 36 hours by providing an abundance of hacking resources like mentors, sponsors, and software.

If you did not made it to the event you can still enjoy it thanks to the streamed video. The keynote includes some awesome speaks from the organizer and main actors of the blockchain ecosystem about what to look in the future such as the relationship between blockchains and mechanism design.

And Vitalik Butterin explaining what are the strenghts and visions about blockchains and privacy through cryptography explaining things like Plasma, Ring Signatures and Zk-SNARKS.

During the event, another talk was held about how decentralized technologies will Impact our society with the talks from Joseph Lubin (Consensys), Vitalik Buterin (Ethereum) and more:

 

Finally, You can find all the submissions of ETHWaterloo on DevPost here.

This hackathon is a nice proof of the blockchain and Ethereum technologies getting more and more popular among institutions, companies and developers.

How to deploy your Truffle projects

The Truffle framework is an awesome tool to help you write and test your Ethereum smart contracts. Once your code is finished and tested, it’s time to publish your smart contracts to the blockchain to interact with the live network and let people interact with your smart contract.

First of all, we will cover how to configure your Truffle project and deploy your project to the blockchain using an Ethereum client.

Then we’ll see how to publish and verify your smart contract source code on Etherscan. Etherscan is a website that let anyone explore the data of the blockchain from accounts to smart contracts and transactions.

 

 

Looking for contributors

With an always growing list of articles and still a lot of topics to cover we are looking for contributors to help EthereumDev.io grow.

If you want to write article with us, have ideas, want to share your ideas. Visit our contact page. We are open for collaboration, guest blogging and technical articles on how to use your library or service.

Next topics we are working on are:

But we are open to your ideas!

 

If you enjoy our website and want to help us creating and maintaining free content for people learning smart contract development, you can donate to these addresses.

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Oracles, data outside of the blockchain

Smart contracts requirements may need to do actions depending on results of real world events and don’t have any native way to communicate with data on the internet. In the context of blockchains, the oracle pattern is the principle of linking real world data that lives outside of the blockchain to actors living inside the blockchain: mainly smart contracts that consumes data in order to decide which action to take.

We published an article that present the basics of what is an oracle and how to implement one for the Ethereum blockchain. In this article you’ll see different uses cases and where to use an Oracle. We also cover a simple oracle implementation in Solidity that mimic a basic insurance contract on the blockchain.

As Oracle can take many forms, our second article explains how to use the Oraclize platform to fetch data from the internet and use it in your smart contract. Our example shows how to fetch the current USD price of Ethereum from a web API.