OPEN BLOCKCHAIN PLATFORM
Ethereum is an open blockchain technology made to build and use decentralized applications (Đapp).
The main idea behind Ethereum is to build applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
HOW IT WORKS
Ethereum is a programmable blockchain. Smart Contracts are programs that automatically and safely execute when a transaction is sent to an account.
Ether is the name of the currency used within Ethereum. It is used to pay for computation within the Ethereum Virtual Machine by purchasing gas for ether.
Decentralized consensus gives Ethereum extreme levels of fault tolerance, ensures zero downtime, and makes data stored on the blockchain forever unchangeable and censorship-resistant.
Each and every node of the network runs the Ethereum Virtual Machine and executes the same instructions. For this reason, Ethereum is sometimes described evocatively as a “world computer”.
WELCOME TO WEB 3.0
Exponential growth of crypto currencies such as Bitcoin and their underlying blockchain technologies have enabled the birth of a decentralized and secure Internet.
A global network where individuals and organisations can engage in economic interactions with no need of trusted third-parties, meaning less costs and more freedom.
Blockchain technology opens the way to build solutions based on decentralized consensus to offer products and services that where not previously possible. A new world of opportunities has emerged for individuals and business to reinvent their ecosystems with the extensive potential of decentralized applications.