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 still in its early stages of development and is not yet ready for mass adoption. However, the potential of Ethereum is immense.
Ethereum was launched in 2015 by Vitalik Buterin, a young Russian-Canadian programmer. He was inspired by Bitcoin, but saw the limitations of the Bitcoin blockchain.
Ethereum’s blockchain is different from Bitcoin’s in that it can do more than just track financial transactions. It can also run decentralized applications (dApps).
DApps are programmed on Ethereum’s blockchain and they run on a decentralized network of computers around the world. This makes them censorship-resistant and tamper-proof.
The most popular dApp built on Ethereum is Cryptokitties, a game that allows users to breed and trade digital cats.
Since Ethereum is still in its early stages, it is not yet ready for mass adoption.
With its ability to run dApps, it has the potential to revolutionize many industries.