Before explaining in detail what Ethereum is and how it can be used, it is good to explain a little about the nature of the Internet and understand exactly what the Internet is.
Today, all of our personal and legal information, such as financial information, passwords, identity information, etc., is widely and legally stored on other people’s computers. Even this article and the website you are reading are stored on a server whose ownership is not related to the site owner. This method of work has many advantages over the completely personal state of the data, and that is that all the legal and technical hassles of maintaining the data and information are the responsibility of the company that maintains them and brings a lot of convenience to users.
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What is an Ethereum?
But this convenience also brings with it a bit of vulnerability. As we know, a hacker or even a government can gain unwanted access to users’ information without the user knowing. So we have to accept the risk of information being stolen, altered and manipulated, and a thousand and one other stories.
Many web and networking professionals are pushing for everyone to understand that the Internet was meant to be decentralized from the beginning, and that we need to get past this stage of insecurity as quickly as possible.
Where Bitcoin was intended to destroy the traditional and even modern banking system (such as PayPal, Webmani, etc.), Ethereum Crypto Currency, which later joined the movement, sought to overthrow individuals and intermediaries in the field. The Internet is supported by Blockchain technology. The same institutions that store customer information, information such as financial transactions, loans and customer installments, and so on.
What is an Ethereum and what does it do?
The answer for most users who are familiar with Ethereum is that Ethereum is just a Crypto currency that, like Bitcoin, can be monetized through cloud mining. But this Crypto currency is more than just a currency, it is a unique network that allows users to run their decentralized software and applications on it. A decentralized software or Dapp can have many applications for its users. Bitcoin, for example, is a Dapp that allows people to make peer-to-peer cash payments using Blockchain technology.
Because decentralized software is a piece of code that operates on the Blockchain network, it is not controlled by various entities and individuals, reducing control access and third-party interference to zero.
With the help of Ethereum, any service that is provided centrally in the world under the supervision of government institutions and organizations will be able to be provided in a decentralized manner. From banking services to voting in elections, registering in various companies and institutions, obtaining licenses for various affairs and a thousand other jobs.
Features of a decentralized Ethereum platform
Since all Ethereum decentralized applications run on the blockchain network, they enjoy the following features and benefits.
- Immutability – Third parties are not allowed to change the information on the network.
- Anti-Corruption and Censorship – Programs are based on a network built around the principle of consensus, making censorship impossible.
- Security – Applications are protected from hacking and fraudulent activity without the need for cryptocurrencies.
- 100% Uninterrupted – Programs never go down and can never be turned off.
What are the disadvantages of Ethereum Decentralized Programs?
Despite the benefits, decentralized applications are not perfect. Because smart contract code is written by humans, smart contracts are only as good as the people who write them. Code or monitoring errors may result in negative unwanted actions. If a mistake is made in the code, there is no effective way to stop the attack or abuse other than to gain network consensus and rewrite the source code.
This is contrary to the nature of blockchain, which means immutable. Also, any action taken by a central party raises serious questions about the decentralized nature of a program.
I want to create a decentralized application. How can I access the Ethereum?
What is usually after intelligent and creative people answer their question, Ethereum? They quickly try not to fall behind and they also provide a decentralized application. Like people who, as soon as they get acquainted with the Forex market, immediately open an account in a company like Forex Time. There are many ways you can connect to the Ethereum network, one of the easiest ways is to use its native browser.
Mist provides a user-friendly interface and Crypto wallet for trading and storing ether, as well as writing, managing, deploying and using smart contracts. Like web browsers that give people access and help them navigate the Internet, Mist provides a gateway to the world of decentralized blockchain applications.
There is also the MetaMask browser plugin that turns Google Chrome into an Ethereum browser. MetaMask allows anyone to easily run or develop decentralized applications from their browser. Although originally built as a Chrome extension, MetaMask also supports Firefox and Brave Browser.
While it is not yet in its infancy, Mist, MetaMask, and other browsers seem to be making blockchain applications more accessible to more people than ever before. Even people without a technical background can now build blockchain applications. This is a revolutionary leap forward for blockchain technology that can bring decentralized applications into mainstream.
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