Ethereum: "The Infinite Machine"

Ethereum: "The Infinite Machine"

By CPix | Everything Crypto | 3 Aug 2020


Cami Russo’s new book, “The Infinite Machine”, is a must read. It doesn’t require any knowledge on blockchains or computers before reading. It boils down to a story about a group of people who come together from all parts of the world to accomplish a common goal, a permissionless and Turing complete blockchain. I highly recommend it for anyone who wants to know more about this history of Ethereum and its cofounders or why the technology is so crucial to the society we now live in.

After ETH breached a new 2-year high of $415 on Saturday night, the whole market took a huge dip reminiscent of price movement from early 2017. From the looks of it Ethereum has once again kicked off another crypto bull run. We will have to wait and see if Bitcoin and the rest of the large-cap alts can keep up.

In other news, Ethereum turned 5 years old last Thursday! Crazy to think how far the technology and community has come since the launch of the network in the summer of 2015.

Market Update (Monday 8:30 AM EST)

Percent Change (Rounded) Based on Last Monday Open (8:30 AM EST)

Bitcoin- $11,261 (+9%)

Ether- $391 (+21%)

Gold- $1,968 (+1%)

DJI Average- 26,542 (+.5%)

NYSE Composite Index- 12,513 (+.5%)

NASDAQ Composite Index- 10,848 (+4%)

S&P500 Index- 3,288 (+2%)

New Developments

  1. MakerDAO becomes first DeFi protocol to hit $1 billion in TVL, The Block

  2. Dharma app enables Uniswap trading with access to 2000+ coins, CoinDesk

  3. Coinbase adds 2% Interest Rewards to users holding DAI, Coinbase Blog

  4. Mainframe acquires Ethereum application and team Sablier, Mainframe Blog

  5. The Great Reddit Scaling Bake-Off for Ethereum, Reddit

  6. Synthetix decommissions Foundation in favor of 3 DAOs, Synthetix Blog

Industry Insights

For Developers

Blockchain Activity

Create an ERC20 token on Ethereum using Solidity:
*The best way to follow along is by downloading the Metamask Ethereum wallet extension on your Chrome browser, download Ganache (1 click Ethereum blockchain), and use remix.ethereum.org to write the code then deploy using an address from Ganache. Make sure to add a custom Metamask network tied to local host 8545.

# Pick version of solidity and add SPDX ID

pragma solidity ^0.5.0;
// SPDX-License-Identifier: UNLICENSED

# import ERC20 backend

import "github.com/OpenZeppelin/openzeppelin-contracts/blob/release-v2.5.0/contracts/token/ERC20/ERC20.sol";

import "github.com/OpenZeppelin/openzeppelin-contracts/blob/release-v2.5.0/contracts/token/ERC20/ERC20Detailed.sol";

# create contract (in this case I created ArcadeTokens

contract ArcadeTokens is ERC20, ERC20Detailed {
    
    address payable owner;
    
    modifier OnlyOwner {
        require(msg.sender == owner, "You do not have permission to do this.");
        _;
    }
    
    constructor(uint initital_supply) ERC20Detailed("ArcadeToken", "ARCD3", 18) public {
        owner = msg.sender;
        _mint(owner, initital_supply);
    }

    function mint(address recipient, uint amount) public OnlyOwner {
        _mint(recipient, amount);
        
    }
}

Earn Opportunity

Earning crypto is easy! So easy in fact that anyone can do it. You don’t have to understand how blockchain or cryptocurrencies even work to earn crypto. Coinbase announced another Coinbase Earn opportunity last week to earn KNC (Kyber Network Crystals). You watch 3 videos explaining a little about the protocol and then answer a question for each video to earn $2 worth of KNC. Google Coinbase Earn KNC to find out more!


CPix
CPix

I'm a crypto enthusiast who fell down the rabbit hole during my senior year of college and now dedicate my time spreading the word through dApp tutorials, explainer videos, and blog posts. My goal is to speed up mass adoption!


Everything Crypto
Everything Crypto

In this blog I cover major public blockchain developments, cryptocurrency shifting from speculation to utility, and personal opinions as to how the space will develop going forward.

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