Ethereum, the world’s second-largest cryptocurrency by market value, is now being audited by a Big Four firm. The move could help Ethereum catch up to Bitcoin in terms of institutional investment.
PricewaterhouseCoopers (PwC), one of the world’s largest professional services firms, is now auditing Ethereum’s code. The audit will be conducted by PwC’s Hong Kong office and will focus on Ethereum’s smart contract functionality.
The news was first announced by PwC Hong Kong partner Steve Webb during a presentation at the Ethereum Community Conference in Paris last week. Webb said that PwC is “very excited” about the project and that the audit will help “build trust” in Ethereum.
This is not the first time PwC has been involved with a blockchain project. The firm has been actively involved in the development of several blockchain standards and has conducted audits of other blockchain protocols such as Hyperledger Fabric and Corda.
NOTE: WARNING: Ethereum is not currently audited and therefore may contain unknown security vulnerabilities. It is important to research the risks associated with Ethereum and any other cryptocurrencies before investing. Additionally, it is important to be aware that the potential for losses when investing in Ethereum are substantial, and users should only invest what they can afford to lose.
However, this is the first time PwC has audited a public blockchain protocol such as Ethereum. The audit is a significant development for Ethereum as it seeks to position itself as a platform for enterprise-grade applications.
The news comes as Ethereum co-founder Vitalik Buterin announced plans to launch a new version of the Ethereum protocol, called ETH 2.0, later this year.
ETH 2.0 is a major upgrade to the Ethereum network that will improve its scalability and security.
The audit of Ethereum’s code by PwC is a positive development for the platform and could help it attract more institutional investors.
10 Related Question Answers Found
Ethereum transactions are traceable. This means that if you send ETH to someone, or receive ETH from someone, that transaction is recorded on the Ethereum blockchain. The blockchain is a public ledger, so anyone can see these transactions.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is proof of work. Proof of work means that the system is trustless and distributed; no central authority is needed.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions. Ethereum Classic is a public, open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.
As the second largest cryptocurrency by market capitalization, Ethereum has had a lot of success since its launch in 2015. The native token of the Ethereum network, ether (ETH), is used to pay for transaction fees and services on the network. In addition, ether can be used to create decentralized applications (dapps) on the Ethereum blockchain.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is still in development and is subject to significant changes in the future. However, the Ethereum community has already built a strong foundation and is constantly working to improve the platform.
When you want to verify a transaction on the Ethereum blockchain, there are a few things you need to know. First, every transaction is given a unique ID, called a hash. Second, each transaction is signed with the sender’s private key.
Ethereum Forsage is a new, revolutionary way to earn cryptocurrency. It’s a decentralized, peer-to-peer system that allows anyone to earn crypto without having to put down any money upfront. All you need is a computer or smartphone and an internet connection.
Since its launch in 2015, Ethereum has become one of the most popular blockchain platforms. In fact, it is the second largest cryptocurrency by market capitalization, behind only Bitcoin. Ethereum’s popularity is due in large part to its smart contract functionality.
When it comes to Ethereum, the big question on everyone’s mind is whether or not the network will be moving to a proof of stake model. Currently, Ethereum uses a proof of work model, which is the same model that Bitcoin uses. However, there are a few key differences between the two models.
Ethereum Classic is a fork of the Ethereum blockchain. It is an open-source, decentralized platform that runs smart contracts. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.
