Bitcoin had entered the financial scenes as early as 2009, and has since then changed the way the world sees financial aspects and most importantly, online transactions and the limitations on it. All these years have seen the evolution of the Bitcoin which is now being used more and more across many virtual tables. Business, however, is likely to get its new makeover, in the form of the Ethereum. This money-based platform has been built on the foundations of the Bitcoin and is currently the focal point of a revolution in the world of financial and online transactions.
What is Ethereum?
Simply put, Ethereum heralds the de-centralization of financial applications by being a large scale multipurpose open source platform. The concept of Ethereum was created in 2013 through the vision of Vitalik Buterin, one of the key researchers on the global Bitcoin community. While he holds the credits for the original ideation for Ethereum, the platform today has become a major replacement for open source development. As stated earlier by Buterin, Ethereum actually makes use of existing systems such as P2P networking and blockchains, to create a computing platform for shared-word. The platform is able to work with high levels of flexibility as well as security, allowing the users to code any applications based on it.
Where do we go with Ethereum?
The original purpose of creating Ethereum was to supersede all existing limitations on transactions with the use of the native programming language in the blockchain protocol. The application can be allowed to overwrite. Additionally, the structure can support all existing as well as planned applications for the coming years and therefore create an environment or a system of immediate as well as consistent innovation and development.