What is Ethereum?
In short, Ethereum is similar to the blockchain version of Android and iOS systems, a blockchain APP platform. Ethereum is a global open source platform for decentralized applications (DApp). The name comes from Ether and the suffix ruem (Greek meaning is "oil")
Ethereum is a decentralized, self consistent economic system that can run transferable computing and data. It is a decentralized blockchain platform for building decentralized applications (DApp). Ether is the cryptocurrency used by the platform.
Ethereum can easily create smart contracts and execute codes by itself. Developers can use these codes to handle various applications.
Ethereum can be used for almost any type of transaction or agreement. Its cost is lower than that of traditional alternatives, such as bank card payment, PayPal and voting. It is decentralized, trusted (without intermediary), safe, effective and anti censorship.
Ethereum has been recognized by developers and giants for its unique programmable design. So far, there are thousands of Ethereum based APPs and digital currencies in the world; In 2017, more than 20 well-known enterprises represented by JPMorgan Chase, Microsoft and Intel even jointly established the "Enterprise Ethereum Alliance". So far, more than 150 companies and institutions have joined this alliance.
What is the value of Ethereum?
Ethereum is more effective than pure cryptocurrency. Through Ethereum, users can create any decentralized application (i.e. DApp) and smart contract. Theoretically, programmable Ethereum can be used for any economic or governance activities.
In Ethereum, you can manage digital assets and run programs by writing code. More importantly, all these are not restricted by regions.
Ethereum has opened a door for the global financial system. Users can access applications, products and services in a trusted way through the Internet. Everyone can interact with the Ethereum network and participate in this form of digital economy in person, without the need for a third party.
People can use smart contracts to raise funds for projects, companies can use smart contracts to issue stocks on the blockchain, banks and other financial institutions can use it to manage loan receipt and delivery, insurance companies can use it to achieve automatic claims settlement, and so on. Even any existing financial transactions can be transformed to the blockchain, which is the credit of the blockchain.
Through the governance applications and systems on the Ethereum platform, it is even possible to remove barriers caused by borders between countries and create a more open, inclusive and equitable human society.
