Event News

Looking Beyond Ethereum: A Closer Look At New Smart Contract Platforms

Asia Blockchain Review And Blockdevs teamed up to organize a meetup that specifically talks about newer technologies that are faster than the Ethereum Blockchain.

Looking Beyond Ethereum: A Closer Look At New Smart Contract Platforms


Smart Contract Platforms Today: Looking Beyond Ethereum was an event presented by Asia Blockchain Review and Blockdevs last 04 May 2019 at Acceler8 Coworking Space- Legazpi.

 

The Ethereum Foundation first introduced the community to smart contracts back in 2014. Since then, there have emerged many alternatives that emulate the function of the Ethereum blockchain at a much faster speed.

Casper Oostendorp went in first to talk about the overview of Ethereum and its current standing in the blockchain market.

 

Oostendorp mentioned a Joe Lubin from Deconomy in Seoul who said that Ethereum will be the Earth's global settlement.

 

This is backed up by the fact that Ethereum is currently the most secure and decentralized platform with a total of 17,000 nodes.

 

One good example of how the Ethereum blockchain was used for the works is the Projecti2i by UnionBank which is a domestic payments network between rural banks backed by the Philippine peso.

 

Many communities do not have decent access to affordable and reliable remittance services because rural banks aren't really connected to electronic banking services or international and domestic money transfers at the very least.

 

With the help of Project i2i, blockchain can be used to drive financial inclusion in secluded communities.

Moments later, the talk centered on iOST which makes use of the Proof Of Believability (PoB) consensus instead of the Proof Of Stake (PoS) which is commonly used by the Ethereum Network.

 

Two of DISH 2019's winners were at the event to say a few words about their DAPPS that makes use of the iOST blockchain.

 

Ernest talked about his iSchool app that seeks to incentivize learning. The app makes use of a reversed scholarship feature which rewards the student each time he accomplishes an objective or task. The students can also store their grades and diploma in the blockchain for safe storage.

A representative from Seven Seven A talked about the Informefy app. It's a quiz app that helps individuals and organizations to spread awareness about a particular topic.

 

Clients and sponsors donate money into the app and participants who get the correct answers for each quiz get compensated in the form of iOST coins.

An overview was also given about the Klaytn blockchain which is a brainchild of Kakao.

 

One key difference between the typical blockchain and Klaytn is that the latter is considered to be a hybrid version of the blockchain that we all know.

 

While most blockchain systems are protocol-centered, Klaytn is said to be service-centered. It combines both private and public blockchains to provide a user-friendly experience to users.