A little sneak peek into how Ethereum blockchain is decentralizing our world!
For too long mankind been forced into even bigger financially struggle due to being forced to feed the invisible middle hand in between each and every transaction but the tides took a drastic turn after Vitalik Buterin released his extraordinary modification of the original blockchain which is now come to be known as the Ethereum blockchain, which has become the key piece in the active battle against the decentralization. Ethereum had to overcome some grim issues in the early days and many pessimists voiced their opinions towards this network ever seeing any significant traction but a few years later down and here we are today, exploring the extraordinary potential of the Ethereum blockchain and DAPPs that it supports.
Tamper-Proof Ledger & Smart-Contracts
The fact that blockchain networks or ledgers are completely tamper-proof is the main reason to why so many people get pumped or ecstatic whenever exploring the potential of this technology. Transparency is something that breeds trust but is the last thing that any major corporation or business chooses to willfully invest their time in, at least in the current model that we are witnessing. Blockchain technology came here to disrupt all of that and bring us into a new digital era.
Think about your average signed contract, while it is admissible in court then, in reality, the whole process of chasing someone not keeping up to their end of the bargain is a time-consuming and an uncomfortable endeavor while not to mention how more expensive it gets the longer that the case lasts but now thanks to the Ethereum blockchain majority of the contracts will be coded to execute and deliver on their own as soon as the criteria(s) is reached. At the same time, this whole procedure being digitalized means quite significant savings for the average consumer.
While listing these points it becomes clear how blockchain technology might not go well with certain regulators who have built their whole life on taking a piece of the pie from right in the middle.
Decentralized Applications On The Ethereum Blockchain (DAPPs)
Same above mentioned digitalized contracts or smart-contracts are the reason why decentralized applications can be brought into existence and transformed for our daily use. Imagine a network that does not belong to a single party but everyone who uses it is as equal as the next person to them and then you get a little grasp of what the potential of Ethereum blockchain is. The fact that people can use something that benefits rather than hurts them is exciting, to say the least.
Decentralized applications are written to perform a specific task on the network and when the conditions are met then either distribute or reward the parties, this has helped to spike such trends like initial coin offerings.
Ethereum blockchain will bring prosperous future and free us from the financial slavery that is currently chained around our ankles, we must just strap down and enjoy the ride!Filed under: Ethereum Blockchain, Technology, Network, ETH, Anonymous, Tamper, Proof, DAPPs, Decentralized