WHAT IS ETHEREUM?
Launched in 2015, Ethereum builds on Bitcoin's innovation, with some big differences.
Both let you use digital money without payment providers or banks. But Ethereum is programmable, so you can also build and deploy decentralized applications on its network.
Ethereum being programmable means that you can build apps that use the blockchain to store data or control what your app can do. This results in a general purpose blockchain that can be programmed to do anything. As there is no limit to what Ethereum can do, it allows for great innovation to happen on the Ethereum network.
While Bitcoin is only a payment network, Ethereum is more like a marketplace of financial services, games, social networks and other apps that respect your privacy and cannot censor you.
What can Ethereum do?
Banking for everyone
Not everyone has access to financial services. But all you need to access Ethereum and its lending, borrowing and savings products is an internet connection.
A more private internet
You don't need to provide all your personal details to use an Ethereum app. Ethereum is building an economy based on value, not surveillance.
A peer-to-peer network
Ethereum allows you to move money, or make agreements, directly with someone else. You don't need to go through intermediary companies.
Censorship-resistant
No government or company has control over Ethereum. This decentralization makes it nearly impossible for anyone to stop you from receiving payments or using services on Ethereum.
Commerce guarantees
Customers have a secure, built-in guarantee that funds will only change hands if you provide what was agreed. Likewise, developers can have certainty that the rules won't change on them.
All products are composable
Since all apps are built on the same blockchain with a shared global state, they can build off each other (like legos). This allows for better products and experiences being built all the time.
Ethereum in numbers
Why would I use Ethereum?
If you’ve ever sent money overseas (or plan to), or had to worry about the future of your assets due to external forces outside of your control where you live, or been fed up by the numerous restrictions and fees imposed by traditional financial institutions for everyday transactions, you might be interested in what cryptocurrencies have to offer.
Bear in mind that Ethereum is a story that is still being written, and many more reasons to use it are being uncovered as it evolves and develops over time.
0 Comments