So lets look at, what is Ethereum? Ethereum is a blockchain-based software platform that is used for mainly Value exchange. Which is does based off of the native coin ether. Now lets see where ETH get's it value from, the main why we see this take shape is in DeFi with the idea of giving users more control of their money and online data. which is why some call ETH “world computer”. The idea has been met with some back lash, but is still pulling strong in 2021.
Sounds good but...
How can it be done, so we see that some value is from the coin and some is from the idea and that is great, so how can we turn words in to action? Ethereum aim is to hand control back to users with the help of a block chain. So what is a block chain? Blockchain is a system of recording information so that makes it difficult or impossible to change or hack (A blockchain is essentially a digital LEDGER of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.) Using the tech of block chain (Ethereum’s creators aim to use the same technology to replace internet third parties.) With the idea of stopping things like censoring data and hacking of private information.
Next
What is next for Ethereum? Ethereum 2.0 which was launched Dec. 1, 2020, in phases which are still coming out, with the aim to fix some of these issues. like scaling technologies to tech like Radian and stability out to more users. 2.0 which has been in the works for years could help with the scalability as Ethereum moves forward in time. (learn more about the roll out at this link https://www.coindesk.com/research/reports/ethereum-2-0-how-it-works-and-why-it-matters this is past beginner so we will be stopping here.
If you enjoyed this post you can learn more at the link(s) below. Thank You for reading please like, comment and tip below if you would like. Welcome to Ethereum.
