Review on Ethereum by Cesar Medina
Decentralized platform with powerful alternative cryptocurrency
Ethereum is a decentralized system that is not controlled by anyone at all, this means that it is not a cryptocurrency as many think, but a digital platform that adopts blockchain technology to create a variety of applications on it. The currency that this network uses is called Ether. It has become normalized over time that people refer to this coin by the name of the platform. Thanks to the possibility that applications can be run within a blockchain, it is extremely beneficial. It is safe for the protection of information in the cloud, it is also not possible to modify the chain of blocks. There are no intermediaries and you will not transfer your data to any company. Low cost and economical in terms of the use of its Ether currency. Ethereum's original goal was simply to offer a service. The Ether token can be used for transactions using the software and serves as payment for the Ethereum blockchain applications. Ether is the cryptocurrency and Ethereum the platform.
In conclusion, Ethereum is not a cryptocurrency but a platform that offers the possibility of creating smart contracts and decentralized applications. Obviously, this system needs as a company the cryptocurrency Ether to act as food in the decentralized applications found on the network.
Pros
- There is no third party intervention, so the decentralized applications within the network will not be controlled.
- Eliminated the possibilities of fraud, corruption and manipulation in the network due to the blockchain network.
- Decentralized platform without failures for which the applications will always be active, in addition to that this implies that there is protection against future hacker attacks and illicit purposes.
Cons
- It was intended to be a platform, not a cryptocurrency.
