Hackathon Ethos

ETHDenver has been organized to bring together like minds in the pursuit of three core goals; to further the distributed computing revolution; to foster ongoing development of the Ethereum ecosystem; and to empower participants to make an impact on this burgeoning field. We also seek to reinforce Colorado’s place as a thriving crypto hub where the free exchange of ideas, diversity of background and opinions, and outside-the-box thinking gives rise to innovative projects.

The Ethereum story

Decentralization represents a paradigm shift in the way we build and use software. The way business is done, and the way our society operates, may be fundamentally changed by this technology. As Kirk Dameron, a ConsenSys leader and Denver resident commonly says, “the decentralized world will push power in commerce from the center to the edges.”

In 2009, the white paper for Bitcoin was released by a person (or persons) by the name Satoshi Nakamoto. Described as “A Peer-to-Peer Electronic Cash System”, this invention has revolutionized the future of money, value transfer, and storage of value. Vitalik Buterin, however, saw limitations in what the Bitcoin protocol could do. This gave rise to the birth of Ethereum, which began with the release of a white paper in 2013 describing a smart contract platform that would give rise to the use of decentralized applications (dApps) using blockchain technology.

These dApps may allow for more democratic, fair outcomes in commerce. They also stand to disintermediate many “trusted third parties” who typically charge fees for clearing transactions or managing the transfer of value between parties. In a decentralized world, there is less need for these intermediaries. Technology will facilitate the interaction in an distributed, trustless way.