 |
January 23, 2019, 10:33:42 AM |
|
It’s incredible…but also a little hard to describe in under a million words (however I will try).
Ethereum does have it’s own currency, Ether, and like bitcoin it uses blockchain technology to record and verify all transactions, but that’s where the similarities end.
Essentially Ethereum is the world’s first decentralised computer, it uses the internet and a blockchain to keep everything synced and unhackable. Well, mostly..
Ethereum is so sophisticated that even its creators still sometimes struggle to define it and figure out what it can be used for.
Because it’s essentially a computer anyone can write code on the network that Ethereum will then execute automatically to do things such as create websites, store and execute a will, finance a company with crowdfunding, sell goods or services, and so much more.
For example, a record company could create a contract on Ethereum that automatically pays music artists every single time their records are played anywhere in the world.
|
