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 Internet was created, people believed that it would be a decentralized network where everyone would be equal. But in reality, it turned into a centralized network controlled by corporations and governments.
Ethereum is an attempt to fix that. It’s a platform that allows developers to build decentralized applications.
What does that mean?
It means that with Ethereum, there is no centralized server that can be shut down or censored. It also means that there are no intermediaries between you and the person you’re dealing with.
If you want to buy something, you don’t have to go through a bank or PayPal. You can just send money directly to the person you’re buying from.
And because Ethereum is decentralized, the transaction can’t be blocked or reversed.
Ethereum is still in its early stages. It’s not as user-friendly as Facebook or Google.
But it has the potential to be much more than that. It could be the foundation of a new economy where people are in control, not corporations or governments.
The scalability of Ethereum is one of its most important features. It allows the network to handle a large number of transactions without slowing down or becoming congested.
This is possible because Ethereum uses something called “sharding”. This means that the network is divided into smaller pieces, so each piece can process transactions independently from the others.
This makes Ethereum very scalable and able to handle a large number of transactions very quickly. And as more people use Ethereum, the network will become even more scalable and efficient.