Posts Tagged ‘ETH


Ethereum (ETH) is still relatively new alternative crypto currency, even though it has been in development for quite a while, the formal launch of the mining phase happened just about two and a half months. For all that time the total mined Ether coins is roughly a little bit over 2 Million with another 72 Million already available from the crowdsale and various other rewards and incentives. We are keeping a close eye on the development of Ethereum and another reason why we are seeing a decline in the value of a single Ether coins could be due to the still relatively small user base when compared to the total number of coins available. Looking at the number of unique wallet addresses that have left a trace in the Ethereum blockchain shows a bit disappointing number, a bit less than 25 thousand. With less than 4 thousand new ones being added in the last 30 days, growing steadily, but slowly with just about 100-200 average new ones every day. That does not mean that the total number of users or actually generated wallet is this small, it is larger in reality as addresses that have not sent or received any transaction are not listed, but then again you cannot say these are active Ethereum users either. So what Ethereum desperately needs is to increase the rate of growth with more new users that it is currently getting and that includes not only miners…


You can say that the Reputation crowdsale that is now over for what is being called the world’s first decentralized, prediction market – Augur, has been quite successful with over 5 million USD equivalent in Ethereum and Bitcoin collected from 4550 users. The “distributed oracle” application uses Ethereum’s network and is just one of the many Decentralized Applications (DAPPs) that are currently being developed. This is just demonstrating the interest and potential for development of decentralized applications powered by a blockchain and is supposed to realize the full potential of the Ethereum by design. At the same time lately we have been seeing a drop in the price of the Ether coins that are the currency of Ethereum currently being mined by users for a little over 2 months now. Since Ethereum is actually relatively new crypto currency, especially if you consider when was the official launch of the network, even though it has been under development for quite some time we should just now start seeing its potential actually being shown with decentralized applications such as Augur. Do note that Augur has not been officially launched, just their crowdsale of Reputation has finished even though they have a working Alpha version available to get an idea what the platform will offer.


The C++ implementation of the Ethereum client (cpp-ethereum) is getting more user friendly with the new AlethOne GUI intended to simplify the mining process for users that are not into programming and hate to use console-based software. The AlethOne GUI is going to be a part of the eth client, though currently it is only available in a release candidate form and it will be interfacing with the eth client. The first time you run the GUI it will ask you for a password and will generate an Ethereum wallet address, then start synchronizing the blockchain. The good thing is that AlethOne presents the user with a simple interface and reports in an easy to read details about the functionality of the eth client in the backend such as the Ether balance you have or the blockchain synchronization status or even the hashrate when mining. As for the mining you get an easy option for solo mining or pool mining with a field to enter the pool URL to mine at and after you have mined some coins you have the option to easily initiate a transfer to another account.

So far the latest release candidate of AlethOne looks quite nice and works decently, though there are apparently some more things that need work before the final release is available. For example it seems that the mining is only working on the first GPU and if you have multiple video cards that you want to mine with there is no way to tell the miner to use them all form the GUI apparently. The Withdraw functionality also needs some more work in te form of any feedback returned in the AlethOne GUI regarding the execution of the transaction such as if it was successful or not etc. Regardless things are already looking good and the AlethOne GUI with some more improvement and fixes is definitely something that Ethereum needs in order to become easier to be used by not so advanced users – basic wallet and mining functionality in a streamlined desktop client.

You can download and try the latest cpp-ethereum with AlethOne release candidate 2…