Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is how the Internet was supposed to work.
Before the advent of Ethereum, blockchain applications were designed to do a single thing. Bitcoin was created to be a peer-to-peer electronic cash system.
Other applications, like Ripple and Mastercoin, focused on other specific use cases.
But these applications were all siloed and incompatible with one another. They couldn’t communicate or interact with each other.
Ethereum changed that by providing a single platform that can be used to build any decentralized application imaginable.
Decentralized applications have many advantages over traditional centralized applications. They are more secure, because there is no central point of failure for hackers to Target.
They are also more resilient, because they can keep functioning even if some of their nodes go offline. And they are censorship-resistant, because there is no central authority that can be used to shut them down.
The downside of decentralized applications is that they are often harder to use and understand than traditional centralized ones. But the Ethereum platform is designed to make them easy to build and easy to use.
The first step in building a decentralized application on Ethereum is to create a smart contract. A smart contract is a piece of code that runs on the Ethereum blockchain and defines the rules of the application.
For example, a smart contract could define how much money each user has, how users can send money to each other, or how users can vote on proposals.
Once a smart contract is deployed to the Ethereum blockchain, it can’t be changed or deleted by anyone – not even the person who deployed it. This makes smart contracts very secure, because there is no way for someone to tamper with them after they have been deployed.
The next step in building a decentralized application is to create a user interface for the smart contract. This can be done using HTML and CSS files, which can be hosted on any web server.
The user interface will allow users to interact with the smart contract on the Ethereum blockchain.
Finally, the last step in building a decentralized application is to deploy the user interface onto a web server so that it can be accessed by anyone in the world. Once deployed, anyone will be able to use the decentralized application without needing to install any software locally.
Decentralized applications have many advantages over traditional centralized ones. They are more secure, resilient, and censorship-resistant. But the biggest advantage of decentralized applications is that they have the potential to disrupt entire industries – from finance and healthcare to social media and gaming – by providing a better way of doing things that are currently done inefficiently or centrally controlled by large corporations.