What you’ll learn:
- What Ethereum does
- An overview of its architecture
- An outline of the core Ethereum components
- Some of things you can build on Ethereum
What is Ethereum?
Ethereum is a blockchain-based system where anyone can build and securely deploy any digital service without going through a formal, centralised approval process – such as getting an App added to Apple’s App Store.
It is the brainchild of Vitalik Buterin, a Russian born computer programmer, who was an early Bitcoin advocate, but thought it lacked a scripting language to enable connected applications.
Ethereum has been dubbed the ‘world computer’ as it enables permissionless access to a Turing Complete system that can process any request expressed in its bespoke programming language.
It uses a set of standards for creating tokens that allow value to be transferred within, and between, applications built on Ethereum, creating a vast interoperable ecosystem.
Applications built on Ethereum don’t need to trust a third party like a bank or the Google Play Store. These fundamental features have enabled Ethereum-based applications to quickly disrupt those industries which are hard for the average person to access, in the shape of:
- Decentralised Finance (Defi) – disrupting financial services & investment
- NFTs – disrupting the market for art and collectibles
- Metaverse – Enabling the creation of virtual economies
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