All you need to know about Ethereum

Ethereum was created as a result of a desire to expand the limited functions found in block chain applications such as Bitcoin. Most of it is the fact that bitcoin only offers peer to peer, digital currency transaction. Due to the fact that developers wanted block chain applications that could do more, there was the birth of Etherum. Etherum was created by Vatalik Buterman when he felt that bit coin didn’t have certain scripts he needed to expand. The Etherum project was crowd funded. The platform has gone on to gain many alliances since 2013 it was launched and has placed itself as a platform that allows you to build applications and get rewards. Even though it was sometime hacked and this raised huge concerns, it has still remained strong and has attracted huge investments.

Ethereum crytocurrency is called ethers and it can be traded as a crytocurrency. Developers that build with Etherum are being rewarded with Ethers and can be used for any other subsequent transaction. Etherum is based on the blockchain technology but has gone on to make it relatively much easier to build block chain decentralized applications without much stress and time. More research is still made on how to further even make it easier. Using decentralized applications would reduce the probability of getting hacked as it is majorly a secured system, since it does not have a central control. It also removes the idea of central influence and allow for systems that are controlled by the people who are the users.

Government bodies can promptly take advantage of this in terms of voting systems, due to the fact that nobody can be held responsible for any result gotten as it would majorly be seen that it is a pooled result. Decentralized applications built using the block chain have been majorly for funding, especially crowd funding and other financial transaction funding mediums.

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