Ethereum: A Colossus in the Making

Right from the time, Bitcoin appeared on the scene, there has been a buzz in the financial market. Based on a peer to over decentralized system, Bitcoin offered unbridled freedom to individuals. There was no third party oversight and regulations that would stifle the system. This bought the turnaround time down and transaction charges were nil. Bitcoin also hit the stratosphere in 2017, when it got valued at $20000. This led to an entire universe of cryptocurrencies or projects, each peddling their own little dreams.

One such project was Ethereum.

This was, like, Bitcoin, an open-ended system allowing transactions across the board and continents, with nil government or third-party intervention. Launched in 2015, ETH soon became the silver to Bitcoin’s gold. And there was plenty of reason for it. Even though Ethereum resembled Bitcoin, or for that matter any cryptocurrency in every way, there was one difference it bought to the fold, Either (ETH), it’s cryptocurrency.

So what made Ether any different from the plethora of cryptocurrencies or Altcoins.

The very fact that Ethereum was programmable, made it a darling to the developers’ community. It meant that programmers can create apps using Either. These apps we’re called DApps or Decentralized Apps because they were being created on a decentralized system.

These DApps gained from the combination of cryptocurrency and Blockchain. It not was secure thanks to the impenetrability of the premise but was also not owned by any single entity. It would also behave in the exact manner it was programmed to, once uploaded.

This became the basis for some of the most interesting developments if recent times.

Many of the apps that we are using right now have been created on the Ethereum platform.

Cryptocurrency wallets that help you make cheap, instant payments with ETH or other assets

Financial applications that let you borrow, lend, or invest your digital assets

Decentralized markets, that let you trade digital assets, or even trade “predictions” about events in the real world

Games where you own in-game assets, and can even make real money

The list is endless.

Given the robustness of the system, there is no doubt that the digital world will one day be ruled by applications created on ETH. To make matters more public and equitable, Ethereum community is the world’s largest blockchain community. And it is quite active too.