Jump to content

What is Ethereum?

Started By Jimmy , Mar 09 2016 12:56 PM
ETH Ethereum dapps cryptocurrency cryptocoin finance fintech news coincenter

  • Please log in to reply
No replies to this topic

#1

Jimmy
  • Jimmy
  • Cryptoforumologist
  • ADMIN
  • PipPipPipPipPipPipPip
  • 6,632 posts
  • 1,638 topics
    • Time Online: 341d 17h 36m 36s

What is Ethereum?

By Vitalik Buterin

 

In a nutshell, Ethereum is a new innovation in computing built from technologies and concepts originally pioneered in Bitcoin. Bitcoin is widely understood as a system for generating a shared world ledger that securely records bitcoin balances. Ethereum uses many of the same systems (such as blockchains and peer-to-peer networking) in order to generate a shared world computing platform that can flexibly but securely run any application users want to code (shared ledgers like Bitcoin included). To better understand what that means, let’s first go back to the beginning.

 

Satoshi Nakamoto’s development of Bitcoin in 2009 has often been hailed as a radical development in money and currency, being the first example of a digital asset that simultaneously has no backing or “intrinsic value” and no centralized issuer or controller. However, another, arguably more important, part of the Bitcoin experiment is the underlying blockchain technology as a tool of distributed consensus, and attention has already greatly shifted to this piece of the puzzle. Commonly cited alternative applications of blockchain technology include using on-blockchain digital assets to represent custom currencies and financial instruments (“colored coins”), the ownership of an underlying physical device (“smart property”), non-fungible assets such as domain names (“Namecoin”), as well as more complex applications involving having digital assets being directly controlled by a piece of code implementing arbitrary rules (“smart contracts”) or even blockchain-based “decentralized autonomous organizations” (DAOs).

 

Read More at CoinCenter

https://coincenter.org/2016/03/what-is-ethereum/


 

CryptoCoinTalk.com

Discussing the world of cryptocoins and cryptocurrencies 

Read the Launch ANN Rules

https://cryptocointalk.com/topic/3405-forum-rules-read-before-posting/'>https://cryptocointalk.com/topic/3405-forum-rules-read-before-posting/

 

Readthe Forum Rules

https://cryptocointalk.com/index.php?app=forums&module=extras&section=boardrules

 

Don't post referral links outside the Promo / Off-Site Giveaways forum!


Cryptocointalk.com doesn't endorse any ads. Warning: ads my be illegal or untrustworthy in your jurisdiction. Advertising Here.





Also tagged with one or more of these keywords: ETH, Ethereum, dapps, cryptocurrency, cryptocoin, finance, fintech, news, coincenter

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users