Ethereum: The “Next New Internet?”
According to this article, we now have a new Internet being developed: Ethereum (thanks to Chase Mitchell, one of my regular readers, for pointing this new development out). In fact, it’s called “web 3.0,” in a bid to become “The Next New Internet.” Given I tend to be a little concerned about the future of the Internet, I thought I’d look into this new one a bit to discover what it’s all about… Pardon the length of the ensuing investigation.
To begin to understand Ethereum, you have to understand block chainsbecause Ethereum is a type of block chain. To understand block chains, you must begin with the hash. A has is a simple concept that is actually quite difficult to implement in a useful way: a hash takes any a string of numbers of any size and returns a fixed length number, or hash, that (more or less) uniquely represents the original string. The simple to implement part is this—one rather naive hash is it simply add the numbers in a set of numbers until you reach a single digit, calling the result the hash. For instance…
23523 2 + 3 + 5 + 2 + 3 == Continue reading
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