In the matter of "breaking the dimensional wall", Ethereum has done more than you can imagine
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Ethereum is currently the largest blockchain network for decentralized applications (DAPPs) and the second largest cryptocurrency by market capitalization. Since its inception in 2015, Ethereum has attracted the attention of some of the world's largest companies - many multinational corporations, the world's top 100 companies have developed on it.
Of course, the vast majority of companies are eyeing Ethereum during the ICO (Initial Coin Offering) boom of 2017. According to CoinMarketCap data, Bitcoin soared at a peak close to US$20,000 at that time; the price performance of ETH was also remarkable, reaching a maximum of US$1,432.
To commemorate Ethereum's fifth anniversary, Decrypt interviewed some of the biggest players to get their latest updates on Ethereum.
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1. Ubisoft: video game giant
For game lovers, the name Ubisoft (Ubisoft) is no stranger.
As France's largest video game developer and publisher, Ubisoft has a large portfolio of AAA titles, including Assassin's Creed, Far Cry and Watch Dogs ( Watch Dogs) and so on.
(Note: AAA refers to games with high production budget and high marketing cost in the video game industry.)
In the field of blockchain, Ubisoft also focuses on dabbling. Previously, it has supported the development of 8 blockchain startups through the "Entrepreneur Lab" program, and cooperated with blockchain game developer Planetarium to develop a blockchain game "Nine Chronicles" (Nine Chronicles).
It is not surprising that Ubisoft, which is fanatical about the blockchain, is also in the title of Ethereum development.A few months ago, Ubisoft launched the "Rabbids Token" (Rabbids Token) based on its popular "Raving Rabbids" series.
The token uses the ERC-721 token standard on Ethereum, and each non-fungible token (NFT) represents a cartoon rabbit in Ubisoft games.
Tokens are only part of the game, and the specific working principle is as follows:
Players connect their Ethereum wallets to the game and catch (purchase) rabbits by paying a certain amount of ETH; after catching, an NFT rabbit token will appear in the user's wallet, and a POPO certificate (legal proof of ownership) will be generated ; The NFT you hold can also be snatched (bought) by others, but POPO proves that it exists forever-it can prove that you once held a certain rabbit token, and it also contains transaction records.
Players can continue to buy rabbit tokens, some of which may be rare, until the entire rabbit illustration is collected, which is a bit similar to "Crypto Kitty". But unlike the latter, "Rabbit Token" is a charity project, and the proceeds from the token sale will be donated directly to UNICEF.https://rabbidstoken.ubisoft.com/(Odaily Note: According to the official website data, the entire project has raised 35.83 ETH (approximately 14,000 U.S. dollars), and the official website address is
, those who are interested can try it. )
Nicolas Pouard, director of Ubisoft’s blockchain project, said frankly that apart from public welfare, the project is also “an attempt for Ubisoft to enter the Ethereum mainnet and further experiment with blockchain technology.” Pouard’s team is very impressed by how Ethereum is applied to games. interest.
“Ethereum’s ecosystem is by far the most mature, it has been extensively explored and brutally challenged. No other blockchain network has been ‘beta-tested’ like Ethereum.” Pouard explained why Ubisoft is obsessed with Ethereum.first of all：
first of alluser experienceSecondly,
Secondly,scalabilityscalability
Still a big problem. Gas prices have soared in recent months due to the boom in decentralized finance (DeFi). It has caused great trouble to some blockchain games (such as Rabbids Token). "For small blockchain game companies, (high handling fees) are not sustainable, and it makes no sense for users to pay twice the handling fees for buying a little digital assets."
(Odaily Note: Buying Rabbids Token now requires a Gas fee of 0.6 ETH, while a Rabbids Token only needs 0.2 ETH. The sky-high handling fee has caused the recent transaction to almost stagnate.)
“Rabbids Tokens is just the first step, and other projects are expected to follow. Ubisoft hopes to continue to explore the potential of Ethereum games and the growing ecosystem.” Pouard said, but he refused to disclose Ubisoft’s next action plan.
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2. ING Group (ING): Bank
Dutch banking giant ING has been working on developing on ethereum for years.
Why are you looking at Ethereum? The answer is simple. In the early days, it was because there was no choice, and later because the advantages of Ethereum (ecology, developers) were more obvious.
“When we started working on blockchain in 2017, there weren’t that many platforms,” explains Mariana Gomez de la Villa, project director for distributed ledger technology at ING.
ING has three major projects on Ethereum: one is the Ethereum-based payment and settlement alliance Fnality, which will be tested at the end of the year; the other is Komgo, a project aimed at streamlining business documents that have been commercialized on ING, which is also Fnality part; the third is the bilateral letter of credit Bamboo.
(Odaily Note: Letter of credit refers to a written certificate issued by the bank to the exporter (seller) at the request of the importer (buyer) to guarantee the payment of the goods.)
ING has also done a lot of work, especially on open-source projects around zero-knowledge proofs.
As it turns out, ING's blockchain explorations ultimately worked. Trades executed through Komgo have seen a 33% increase in efficiency, reducing transaction time from 3 hours to 25 minutes, it said.
Several of the aforementioned projects have been underway for three or four years, Gomez de la Villa said. The reason why it took so long is that on the one hand, some inherent problems of Ethereum have hindered the research and development process; censorship, it all takes time.
Ethereum has been established for 5 years and is an older blockchain network with many problems. But ING still insists on developing on it. Why?"On EthereumHas a large and good developer base. It has withstood the actual combat test again and again,. ’ said Cees van Wijk, Head of Distributed Ledger IT at ING.
InteroperabilityInteroperability
is another reason for ING's choice. “Once applications start to interoperate, they become very powerful. If you have a payments system, an identity management system and another trade finance system, and they all interoperate and use each other’s capabilities and guarantees, then (technical ) would be much stronger."
ING is not involved in the public chain because the bank still wants to retain some control over the network. Gomez de la Villa said: "As an institution, we need to be very careful to comply with some of the regulatory requirements put forward by the central bank. Therefore, we are basically not allowed (to use public chains), because it is impossible for public chains to obtain the identity of everyone on the network. .”
How does ING use a distributed network of verified network participants instead of anonymous miners?
(Odaily Note: ING actually improved the Ethereum blockchain and created an alliance chain using Ethereum-related technologies.)
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3. Ameritrade: Broker
Founded in 1975, TD Ameritrade, an American investment brokerage, currently manages more than $1.3 trillion in assets and is also deeply involved in the encryption field.
(Odaily Note: TD Ameritrade Securities provides electronic trading platforms for individual and institutional users to trade financial assets, including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, cryptocurrencies, mutual funds and fixed-income investments.)
In May of this year, TD Ameritrade announced that it had invested in an encrypted derivatives exchange called ErisX.
ErisX received a Derivatives Clearing Organization (DCO) license from the U.S. Commodity Futures Trading Commission (CFTC) last year, and is currently authorized to operate in 47 states and jurisdictions; (NYDFS) issued a virtual currency license BitLicense, becoming the 25th company to receive the license.Previously, TD Ameritrade's clients could only purchase Bitcoin futures through CBOE, but now qualified users (account assets of approximately $25,000) can purchase Bitcoin futures directly through ErisX. also,
ErisX also allows U.S. clients to trade Ethereum futures, a first for the U.S.
But contrary to expectations, ErisX’s futures trading volume is not good: Bitcoin futures products usually only trade one or two contracts per day, and no one has invested in Ethereum futures contracts in the past week.
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4. Summary: more and more people choose Ethereum
The above three cases are just the tip of the iceberg of the Ethereum ecosystem.
As early as 2017, more than 30 corporate giants including JPMorgan Chase, Microsoft, and Intel formally established the collaborative organization Enterprise Ethereum Alliance (EEA). The group's original vision was to collaborate on the development of standards and technologies to make it easier for businesses to use the ethereum blockchain code, thus ushering in the era of distributed ledger systems. The organization works to improve the privacy, security, and scalability of the Ethereum blockchain, making it more suitable for enterprise applications.
The latest report from venture capital fund LeadBlock Partners shows that Ethereum is already the first choice for European blockchain startups. Out of 200 startups surveyed by LeadBlock, 27% of European blockchain startups with decentralized solutions are using Ethereum for their projects.
As big as the Bank of France, they want to use Ethereum technology to develop their own CBDC (central bank digital currency); as small as the Juventus club releases star digital collection cards on Ethereum, and collectibles websites use Ethereum blockchain smart contracts to identify collectibles …Ethereum is becoming more and more relevant to our lives.
