In 2015, a 19-year-old Russian-Canadian programmer named Vitalik Buterin published a white paper describing Ethereum, a decentralized platform that would use blockchain technology to enable anyone to build and run decentralized applications. The vision was to create a “World Computer” that would be more resilient and democratized than the centralized servers that power the internet today.
Since its launch in 2015, Ethereum has grown to become the second largest blockchain platform by market capitalization, with a community of developers building thousands of decentralized applications on its network. While Ethereum has faced challenges and setbacks in its short history, it remains one of the most promising projects in the blockchain space and continues to attract interest from both developers and users.
NOTE: WARNING: Ethereum is an open source, decentralized platform that runs smart contracts on a custom-built blockchain. It is not a “world computer” in the sense that it is not a single, unified system or processor. Each node in the Ethereum network runs its own instance of the Ethereum Virtual Machine (EVM) and maintains its own copy of the blockchain. Furthermore, while Ethereum can be used to facilitate global payments and transactions, it is not backed or regulated by any government or central bank. As such, users should proceed with caution when using this platform and ensure they understand the risks associated with it before investing any money.
So far, Ethereum has been successful in attracting developers and users with its promises of decentralization and openness. However, it remains to be seen whether it can live up to its vision of becoming a World Computer.
Only time will tell whether Ethereum will be able to fulfill its potential or if it will succumb to the challenges faced by all decentralized projects.
4 Related Question Answers Found
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 not just a platform but also a programming language (Turing complete) running on a blockchain that helps developers to build and publish distributed applications. The applications on Ethereum are running on their own platform-specific cryptographic token, ether.
Decentralized finance, or “DeFi,” is a hot topic in the cryptocurrency space. Ethereum is the most popular blockchain for DeFi applications, with over $13 billion worth of value locked in Ethereum-based DeFi protocols. But what exactly is DeFi?
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 also a cryptocurrency, which can be used to pay for goods and services, or to trade like any other currency. The native currency of the Ethereum network is called ether.
It’s no secret that Ethereum’s ICO was a resounding success. In less than two months, the project raised over $18 million dollars, making it the second most successful cryptocurrency crowdsale to date. But what exactly is an ICO?
