Ether And Ethereum

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Ether and Ethereum

My post today concerns Ether and Ethereum.

By the way, both are related and neither can do without the other.

So what is Ethereum?

Ethereum is a Decentralised platform that runs smart contracts (Contracts that run as programmed without any downtimes, fraud, censorship or any third party interference)

It is a project pioneered by a  Swiss None governmental organization(The Ethereum Foundation) with the assistance of key global stakeholders.

And Ether?

Ether is itself a cryptocurrency that runs on a Blockchain that is generated by the Ethereum platform.

Blockchain Apps

The apps run on custom Blockchains with an enormous, powerful and global infrastructure that complements the function of moving value and attaching the ownership of property.

Here, the developers create markets, store the registries of debts and move funds with a protocol of transactions.in other words,  the apps perform a rare role like what a will does or even closer, what a futures contract.

It is also worth to note that the abilities of Blockchain have not been fully explored, they are in fact numerous and perform with the basis of a peer to peer without the need for a  middleman or contemporary riskiness.

The rationale  behind Ethereum:

On traditional server architectures, every application has to set up its own servers that run their own code in isolated silos, making sharing of data hard. If a single app is compromised or goes offline, many users and other apps are affected.

Nodes:

On the Blockchain, anyone can set up a node that replicates the necessary data for all nodes to reach an agreement and be compensated by users and app developers.

This allows user data to remain private and apps to be decentralized like the Internet was supposed to work

The Ethereum Wallet offers the user a  gateway to an array of decentralized applications based on the Ethereum Blockchains. Thia allows you to add Ether as you secure, writing and deployment of Smart contracts.

Conclusion:

As at date, the current hype about cryptocurrencies seems to have evened out a bit and the developers are  shifting a bit towards a bigger  question;”What more can we get from Blockchain, that is beside the cryptocurrency?”

If Blockchain is adequately exploited, might be a bigger revolution similar to the one from the internet!

 

 

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