Dether Whitepaper - Decentralized Peer-to-Peer Ether Network

Dether Whitepaper - Decentralized Peer-to-Peer Ether Network

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Mehdi Amari, Abdelhamid Benyahia
Buying and selling ether remains a centralized process that’s long and difficult:
  • It takes time and costs money. Registering online, depositing money and getting verified takes days or weeks. And time is money.
  • Decentralization is at the core of blockchains value proposition; yet, central entities still play a major role in the process of buying cryptocurrencies.
  • The overly complex buying process creates barriers to Ethereum mass adoption, as more than 2 billion adults are unbanked and don’t have the necessary bank account to buy ether.
  • The last mile issue in cryptocurrency transactions has yet to be solved. How to transform cryptocurrency into cash in only minutes. That’s why we created Dether.
What is Dether?
Dether provides a decentralized peer-to-peer ether network that enables anyone on Earth to buy ether with cash and spend it at physical stores nearby. No bank account is needed, just a mobile phone with internet access. Our belief is that the beauty and power of the Ethereum technology should be easily accessible to all.

We’ve decided to put all of our energy and that of the Ethereum community into helping us build the rst trustless solution that will allow anyone to be able to interact with the Ethereum blockchain no matter who you are, where you are, and without the need for a middleman.

Breaking Barriers to Ethereum Mass Adoption
As Satoshi Nakamoto envisioned the first blockchain use case as a “peer-to-peer electronic cash system,” people all over the globe have been increasingly using not only bitcoin, but also cryptocurrency, as a means of payment.

With cryptocurrency you can now:
  • Buy a Subway sandwich in Buenos Aires.
  • Buy a painting in Paris.
  • Pay your children’s tuition fees in New York City. Buy a deli sandwich in Melbourne.
  • Buy a camera in Tokyo.
  • And that’s just the beginning.
In this context, mobile phones are the new banks. And cryptocurrency is the new money. That’s the reason we’ve also shaped the Dether map as a decentralized solution for any physical store willing to accept ether as a means of payment.

No credit or debit card is needed to spend ether at physical stores.

This paper first underlines the current and future issues faced by billions of individuals at a moment in history when Ethereum adoption, and more globally, blockchain technology adoption, is more than a buzzword. It then presents the core principles of the decentralized mobile application that is Dether, its adequate features to make it a worldwide success and the use of the ÐTH token. We will also present a market study stressing the time to market accuracy, along with a presentation of the market to be addressed and its targets (from early adopters to the late majority).

With the 2007 financial crisis still leering over the economy, the need for a decentralized banking solution has come to the forefront of ingenuity. Against the backdrop of raising awareness and the need for more trusted global solutions, blockchain technology opened doors for new opportunities by using cutting-edge technology to serve societies all over the world. The technology initially underlying the Bitcoin protocol has the power to have a great impact on our society by transforming our industries. Financial services, healthcare services, even governance: a wide range of fields could be disrupted using blockchain technology. And by disrupting those multiple fields, it could also allow for better inclusion of populations left behind by globalization.
When Satoshi Nakamoto created Bitcoin, the rst blockchain and its cryptocurrency, it was aimed at being a “peer-to-peer electronic cash system.” A digital form of money that could be used by anyone, from anywhere, and without having a central organization behind it that has power over the entire system. Cryptocurrencies are often referred to as digital gold: digital money, not ruled by any government, and secure from political in uence. In countries experiencing hyperin ation, it’s used to store value. It also allows for fast, secure and convenient payment over the internet, preserving the anonymity of the participants.

The creation of the first blockchain with Bitcoin has highlighted the fact that decentralization is the core value of blockchain. Going through a centralized organization or institution has a systemic risk, being that this central entity is in fact a single point of failure that can destroy everything that’s below it.

Decentralization matters because it redistributes power back to society, without the control of a central authority, as beautifully explained by Vitalik Buterin:
  • “Fault tolerance — decentralized systems are less likely to fail accidentally because they rely on many separate components that are not likely.
  • Attack resistance or seizure resistance — decentralized systems are more expensive to attack and destroy or manipulate because they lack sensitive central points that can be attacked at a much lower cost than the economic size of the surrounding system.
  • Collusion resistance — it is much harder for participants in decentralized systems to collude to act in ways that bene t them at the expense of other participants.
  • Censorship resistance — this is one of the most important distinguishing factors of cryptocurrencies. Centralized systems are notoriously easy to censor. Censoring transactions allows for third parties to prevent the ow of transactions to or from certain sources.
  • Access control resistance — Centralized services are easy to have access blocked by an ISP, government, or other authority. Even if the internet was completely shut down, however, blockchains could survive through satellites or shortwave radio.
  • Change resistance — Blockchains are also incredibly resistant to change and are not subject to the whims of a few individuals. Any major change requires consensus from the vast majority of participants.”
Blockchains are powerful because they generate decentralization. Decentralization has the unique ability to give people control back over their rights, their digital assets, their data, their vote and more.

Beyond that, the Ethereum blockchain goes even further.

More than a simple cryptocurrency, Ethereum offers promising opportunities. Ethereum enables anyone to access and interact with Distributed Applications (Dapps) and Smart Contracts. It gives the disruptive ability to build trustless digital societies and organizations where its applications don’t have any kind of censorship, fraud or third party interference. Here, we are talking about societies where you can participate in a democratic and autonomous organization with trust, and without previously knowing any participants. The power of Ethereum’s technology and its extremely active community opens up a world of possibilities for the future of our society.

Ethereum technology and its community are exible enough and ready for scaling its protocol in the near future with prospects for off-chain systems—its security being one of the strongest ones.

We are living in a turning point in history when Ethereum has the power to change the societies we live in, and therefore, the world. And one of its challenges is mass adoption. By mass adoption, we mean that anyone in the world should be able to interact with its network and have the ability to build or participate in trustless organizations without a middleman or at currency barriers.
Thus, this white paper aims to give the necessary explanation about Dether, its context, its technology, its market, its targets, its tokens, its team, and its current state and future development. It sums up our thoughts and strategy in the current stage of the project and may evolve in the future. We’re building a trustless solution needed worldwide to foster Ethereum mass adoption, and this white paper is the rst step.

A Road to Decentralization
Dether’s strategy is to build a fully decentralized app accessible to anyone on Earth who has a smartphone and internet access. Breaking barriers to Ethereum mass adoption is our slogan.

We strongly believe that having a trustless solution is the key to Dether’s development. Users must be able to exchange and trade with one another with trust, despite not knowing each other beforehand. In other words, we’ve decided to align our strategy with blockchain’s core principles, where the power of its users, and not a central entity, determines its success.
That’s why we’ve decided to create a technology roadmap that integrates different key elements of decentralization on each feature we integrate, in order to propel Dether towards full decentralization.
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