• Ethereum

What You Need to Know about Ethereum

Ethereum is an open-source platform. This means it is computer software in which source code is released. The copyright holder gives users under his license the right to study, change, and distribute information to this blockchain based on the distributed computing platform. Anyone has the right to submit code on the Ethereum network and will then execute automatically to do things. Information to obtain skills to become a blockchain programmer is available on the internet. You will be able to create websites, store and execute a will, finance a company with crowdfunding, sell goods or services, and much more.

This blockchain was funded by an online crowdsale. The founder of Ethereum, Vitalik Buterin, a cryptocurrency researcher and programmer proposed Ethereum in late 2013. The crowd sale of Ethereum took place between July and August 2014. To fund a project with small amounts of money is the preferred method of crowdfunding in the case of Ethereum which is an altcoin. This has normally been done on the internet by a large number of people. The advantages of crowdfunding are to pitch a project or businesses through crowdfunding with the minimum expenditure. It is also a valuable form of a marketing tool for your company.

The Ethereum blockchain technology does have its own currency called Ether. Like Bitcoin, Ethereum uses both the blockchain technology to record and verify transactions.

On the Ethereum decentralized application block, a company can create contracts. These contracts are called Smart Contracts. These applications run exactly as programmed without any possibility of downtime, censorship, and fraud.

The idea of the whole blockchain is to remove the power from the third parties and allow the users to control their own data. The blockchain consists of a set of protected blocks of information which are changed to one–another. Together they form a tamper–free ledger. The purpose of the blockchain is to share information amongst all parties. It has also been known as a decentralized system with no middleman. All information placed on the blockchain is protected against modification, meaning that nobody can change it once the data is on the chain of blocks.

(source www.wikipedia.com)

 

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