📢 What is Ethereum?
Today we are going to talk about Ethereum and Ethereum 2.0 🚀. In the last issue, we mentioned that cryptocurrency has benefited from blockchain technology, which has initially solved the trust problem and brought the principle of decentralization 📥. The first representative of this is the first generation of cryptocurrency - Bitcoin 🪙. Although we already have digital wallets, in reality, how to use our digital assets is still a problem . Finding someone willing to exchange digital assets is like looking for a needle in a haystack 🫠, and because the transaction process is irreversible, the risk of defaulting and running away is extremely high 😱 ⚠️. So what about introducing a centralized institution to manage it? This goes against the core spirit of decentralization 🚫.
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📝 What are smart contracts?
The birth of Ethereum brought a better solution, that is, our Vitalik✨ brought smart contracts. You can think of it as a "decentralized computer" that can run any type of application 💻, not just a decentralized ledger 📒. Smart contracts allow people to automatically execute in an "if this, then that" mode without intermediary intervention 👨💻🤖. This entrusts trust to the machine and solves the trust problem to the greatest extent through the transparent and open decentralized principle 🔓. The emergence of Ethereum brought cryptocurrency into the 2.0 era 2️⃣.
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🔍 Transparency:
So what if the contract code is risky? First, anyone can clearly see how the system and the applications running on it work 🧐. There are no hidden algorithms, and secondly, the history of each application is also completely transparent 📜, anyone can view it 👁, and these records are permanently saved and cannot be tampered with or deleted 🛡. Users can evaluate the security of an application before deciding whether to interact with it 🔐.
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🌐 Openness:
Anyone can freely create, run and use applications on the Ethereum network 🛠 without relying on institutional approval 🏛. This has led to the emergence of ecological projects such as DeFi (decentralized finance) 💸, NFT (unique digital assets) 🖼, DAO (decentralized autonomous organization) 🤝, and GameFi (blockchain games) 🎮 🌱.
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🏛 Decentralization:
The distributed network and hardware protocols ensure that no entity, institution or government can control or shut down the applications it runs 🏢🚫. There is no need to rely on a centralized management agency, thus ensuring the stability of the project and the security of funds 💪💰.
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I hope this helps you understand Ethereum and its powerful features! If you have any questions, please feel free to discuss them in the comments section. We will talk about dapp in the next issue. Please stay tuned.
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If you haven't read the previous issue, click here to jump
What is blockchain?
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#ETH🔥🔥🔥🔥 #加密货币课程
