Microsoft Adds Ethereum to Windows Platform For Over 3 Million Developers
At minimum, decentralized applications (dApps) enable a new way of transferring and holding property. Smart contracts, decentralized currencies, and asset ownership are recorded on an immutable public ledger: the blockchain.
Blockchain technology and dApps have the ability to decentralize power from existing authorities in business, law, and technology to a broad set of stakeholders. This shift will disrupt current business, economic and social paradigms. Transaction costs and barriers to entry in various industries will be reduced in these industries. The result will likely be an increase in economic exchange and prosperity.
ConsenSys and Microsoft collaborated on this integration to enable developers to rapidly build smart contract-based applications for the public Ethereum blockchain, as well as private and consortium blockchain deployments based on Ethereum. This integration will be revealed at //Build, in San Francisco on March 29th-April 2nd, where co-founders of Ethereum, Vitalik Buterin and Joseph Lubin will be in attendance.
There are four core technological building blocks that are coordinated to enable the Ethereum decentralized application platform to operate:
1) Cryptographic Tokens and Addresses: a mathematically secure unique voucher system that can act as numeraire and be used pay for goods, services or assets, and can also be used to represent a mathematically secure, pseudonymous identity;
2) Peer-to-peer Networking: individual users connect their computers together forming a network to exchange data without a central server (both Bitcoin and Ethereum run on P2P networks);
3) Consensus Formation Algorithm: this algorithm permits users of the blockchain to reach consensus about the current state of the blockchain (the Bitcoin blockchain reaches consesus on a global state change every 10 minutes on average whereas the Ethereum blockchain reaches consensus approximately every 15 seconds).
4) Turing Complete Virtual Machine: a virtual machine is a computer that exists as software, and can be run at a layer of abstraction above the underlying hardware; “Turing complete” means that this software computer can run any computer program one defines and is powerful enough to implement any program defined in any similarly computationally complete system (as opposed to Bitcoin, which has a virtual machine but can only run a much simpler class of programs);
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