Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Niko on September 16, 2018, 07:54:57 PM
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before you can understand ethereum. it helps to first understand the internet today, our personal data, password and financial information are all heavily stored on other peoples computers in clouds and servers owned by companies like Amazon, facebook or google.
Even this coindesk article is stored on a server controlled by a company that charges to hold this data should it be called upon
this setup has a number of conveniences, as these companies deploy teams of specialists to help store and remove the costs that come with hosting and uptime.
but with this convenience there is also vulnerability As we've learned, a hacker or a government can gain unwelcome access to your files without your knowledge by influencing or attacking a third party service meaning they can steal, leak or chang important information.
Brian Behlendorf, creator of the Apache web server, has gone so far as to label this centralized design the "original sin" of the Internet some like Behlendorf argument the Internet was always meant to be decentralized and splintered movement has spruny up around using new tools , including blockchain technology to help achieve this goal.
Ethereum is one of the newest technologies to join this movement. While bitcoin aims to disrupted payPal and online banking, ethereum has the goal of using a blockchain to replace Internet third parties store data, transfer mortgages and keep track of complex financial instruments.
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in simple words, ethereum is a coin which has its own blockchain and smart contracts with the help of which it can bring a positive change in the world. The world had not seen anything like smart contract before, ethereum was the first to implement it and it'll keep bringing positive changes even in the future. With the help of blockchain, we can eliminate unnecessary delay, extra paper work and third parties which charge you for storing and keeping your data safe.
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before you can understand ethereum. it helps to first understand the internet today, our personal data, password and financial information are all heavily stored on other peoples computers in clouds and servers owned by companies like Amazon, facebook or google.
Even this coindesk article is stored on a server controlled by a company that charges to hold this data should it be called upon
this setup has a number of conveniences, as these companies deploy teams of specialists to help store and remove the costs that come with hosting and uptime.
but with this convenience there is also vulnerability As we've learned, a hacker or a government can gain unwelcome access to your files without your knowledge by influencing or attacking a third party service meaning they can steal, leak or chang important information.
Brian Behlendorf, creator of the Apache web server, has gone so far as to label this centralized design the "original sin" of the Internet some like Behlendorf argument the Internet was always meant to be decentralized and splintered movement has spruny up around using new tools , including blockchain technology to help achieve this goal.
Ethereum is one of the newest technologies to join this movement. While bitcoin aims to disrupted payPal and online banking, ethereum has the goal of using a blockchain to replace Internet third parties store data, transfer mortgages and keep track of complex financial instruments.
Mr. Niko, at its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.
A decentralized application or Dapp serve some particular purpose to its users. Bitcoin, for example, is a Dapp that provides its users with a peer to peer electronic cash system that enables online Bitcoin payments. Because decentralized applications are made up of code that runs on a blockchain network, they are not controlled by any individual or central entity.
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Ethereum is a digital currency.ETH is a second big crypto coin.Ethereum is a decentralized platform that runs smart contracts.