> there's a lot of people building things for ethereum.
Are you sure it's ready? There seem to be critical pieces missing in the execution model. Specifically, arbitrary code execution by strangers.
From the white-paper: http://www.gavwood.com/Paper.pdf
"the Ethereum Virtual Machine (EVM) is a quasi-Turing-
complete machine; the quasi qualification comes from the
fact that the computation is intrinsically bounded through
a parameter, gas, which limits the total amount of com-
putation done."
This all sounds very interesting and novel. You buy credits for hosting, this goes further then using Bitcoins to rent bare metal servers. It's integrated in the architecture.
Reading on in that whitepaper. "The machine does not follow the standard von Neumann architecture. Rather than storing program code in generally-accessible memory or storage, it is stored separately in a virtual ROM interactable only through a specialised instruction."
Quite exotic and no re-usage of existing code. What does that mean for IO and networking? Are you allowed to create TPC/IP listen sockets? This is undefined.
Moreover, "For the release series, we use a more complex proof-of-work. This has yet to be formally defined, but involves two components; firstly that it concerns the evaluation of programs on the EVM."
The developers aims for an ASIC-proof proof-of-work system and link it to their arbitrary code execution ability (EVM). However, they are still working on this.
If you're asking these kind of questions you're a few steps removed from appreciating the purpose and intent of ethereum... though you certainly are asking the right kinds of questions. I think this presentation would clear things up for you a bit more https://www.youtube.com/watch?v=GJGIeSCgskc
Are you sure it's ready? There seem to be critical pieces missing in the execution model. Specifically, arbitrary code execution by strangers.
From the white-paper: http://www.gavwood.com/Paper.pdf "the Ethereum Virtual Machine (EVM) is a quasi-Turing- complete machine; the quasi qualification comes from the fact that the computation is intrinsically bounded through a parameter, gas, which limits the total amount of com- putation done."
This all sounds very interesting and novel. You buy credits for hosting, this goes further then using Bitcoins to rent bare metal servers. It's integrated in the architecture.
Reading on in that whitepaper. "The machine does not follow the standard von Neumann architecture. Rather than storing program code in generally-accessible memory or storage, it is stored separately in a virtual ROM interactable only through a specialised instruction."
Quite exotic and no re-usage of existing code. What does that mean for IO and networking? Are you allowed to create TPC/IP listen sockets? This is undefined.
Moreover, "For the release series, we use a more complex proof-of-work. This has yet to be formally defined, but involves two components; firstly that it concerns the evaluation of programs on the EVM."
The developers aims for an ASIC-proof proof-of-work system and link it to their arbitrary code execution ability (EVM). However, they are still working on this.
Conclusion, it is an unproven research prototype.