Ethereum – code of law




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If you know much about bitcoin then its true you heard about “Ethereum”

Lets understand basic about Ethereum.

Public and private laws and contract or agreement between two individuals or two parties traditionally  written into the words and that probable origin of ambiguity and also that can create confusion to understand accurate meaning of law or contract and also enforcement is not precise.

For example, if you loan someone
money and they don’t pay you back, you might take them to court. In practice, this is messy and unpredictable. Court cases require expensive lawyers to argue about the law, are often measured in years and even if you “win”, you have the problem of collecting your money.

“There is no greater impediment to the advancement of knowledge than the ambiguity of words”    — Thomas Reid

So these are big problems with traditional law. Agreements are ambiguous and enforcement is hard.
Ethereum solves both these problems.

There are two-part of Ethereum : First is programming langauge and second one is cyptocurrency called Ether (it has same properties like a bitcoin)

1. Cryptocorrency Ether:

The first part of Ethereum is a digital currency called Eather. This is very common for with the worlds famous digital currency bitcoin. Both of this are decentralised , there is no central government or bank interference and purely control on the users action. Both traded at any corner of the world and transfer at any place like email. Both do that traditional money can’t do at all. Purely depends on blockchain technology that way no one hack or manipulate the currency supply. Today it has notable value because user expect it is has more value in future.

2.Programming langauge of Ethereum:

Ethereum’s other half is a complete programming language, sometimes called EtherScript. A programming language is how people tell computers what to do. Computers are not able to guess at what humans really intend, so instructions written in any programming language are precise. There is no ambiguity about how a computer will run a program. Under the same conditions, it will always run the same way. This feature would be great to have in legal contracts and human law. We can do this, actually, by writing such agreements in EtherScript.All public and private laws, contacts and agreements that written in ether script will create very precise meaning and there is no ambiguity of words occur.

So, Ethereum is both a digital currency and a programming language. But it is the combination of these ingredients that make it special.
Since most agreements involve the exchange of economic value, or have economic consequences, we can implement whole categories of public and private law using Ethereum. An agreement involving transfer of value can be precisely defined and automatically enforced with the same script.

Example:

Let’s look at an example. You’ve built a website and someone wants to buy it for $5000 but they can only pay in March. In the traditional approach, you transfer control of the website and write down what’s been agreed on a piece of paper. March arrives and it seems there has been some confusion. You assumed the contract meant this March but they insist they meant next March. Get ready to argue in court about the meaning of “March”.
Using Ethereum, you might define the agreement in a form of EtherScript that’s readable to both humans and the computer network. It might look something like:sales_contract

Reading agreements in this form could take some getting used to, but no more than the legalese produced by today’s contract lawyers. Fill-in-the-blank scripts would likely become available for common uses. Specialists could craft very custom agreements, as done by lawyers today. In return, we eliminate “I thought, you thought” confusion and remove all uncertainty over whether the other person will follow through. The script both defines and enforces the agreement.

Think of a kind of legal system in the world where all public and private laws, agreements and contracts that written in a programming langauge and there is no ambiguity and quick enforcement of that laws without any involvement of court or settlement entity.

Ethereum is a step towards the system.




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Now we are going talk about some financial criteria that really helpful for investor who want to grow their worth by Ether token (ETH).

As we know Ether token offer by Ethereum project.

Some details of ETH token from coinmarketcap.com :

EthereumEthereum (ETH)

$391.82 on 13June 2017
0.14257000 BTC

Market Cap

$36,225,581,438
13,181,125 BTC

Volume (24h) on 13June 2017

$2,051,670,000
746,527 BTC

Circulating Supply

92,453,707 ETH

Now days the ether token value increse very fastly. See the Graph (Time vs USD) and Data as below.

PicsArt_06-13-10.28.48

7Aug 2015—–$2.83

20Dec 2015—-$0.90

29Feb 2016—-$6.31

23July 2016—-$14.39

13Dec 2016—–$8.35

20Mar 2017—-$41.86

23May 2017—-$171.08

13June 2017—-$385.39

On 13June 2017 its value was 136.04 times of its initial value(on 7Aug 2015) that mean 1000$ investment can give you 136040$(0.13 Million USD)  on 13June 2017

On 13June 2017 its value was 428.21 times of its value on 20Dec 2015 that mean 1000$ investment give you 428210$(0.43 Million USD)  on 13June 2017.

On 13June 2017 below is the data for market capitalization from coinmarketcap.com

The market capitalization and 24 hrs volume of Bitcoin and Ethereum is almost same and that way price of Ethereum will probably beat the Bitcoin in short future.

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