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Ethereum Overview

Origin of Ethereum: 

At Some point Blockchain technology became very popular. One Blockchain per Application. It's very difficult to create our own blockchain for every new applications. Ethereum concept came here, it's aim to create a single blockchain for that will allow to create any kind of new applications on top of it.


 

History of Ethereum:

2013 - Ethereum whitepaper by Vitalik buterin 
2014 - Ethereum Development
2015 - Olympic Release Eth network was created
2020 - Boom in DeFi Activities
2022 - The Merge Upgrade of Execution layer

Overview:

Ethereum Projects:

  • AUGUR - Prediction Market
  • OPENSEA - digital collectibles
  • UNISWAP - Assets Exchange
  • COMPOUND - Leading platform

Decentralized Application:

Ethereum allows us to build new applications called Decentralized Applications. Just as regular applications, they run on multiple machines. But what differs them is that these machines are not owned by single group or organization. They are owned by different people in different organizations, and anybody across the world can provide resources for the network.

Why Decentralized Apps?

  1. Reliable - No single point of failure, continues to run even if some machines goes down.
  2. Secure - code and data are stored in cryptographic form.
  3. Transparent - Anyone can able to see the details of the state of the network.

DApps real world examples:

  1. Voting - Online voting application
  2.  Legal Agreements - self executing the legal agreements, do not require lawyers, anyone can verify whether the agreements was executing exactly the same.
  3. DeFi -  Decentralized Finance
  4. Digital Ownership

Why learn Ethereum?

  • One of the most In-demand skills.
  • Multi-billion dollar industry.
  • Big developer community - developers are improving the network constantly.
  • Allows us to create DApps.
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