Review on Ethereum by Olugbenga Ajayi
Ethereum: Overview
Ethereum , a software system based on block chain distributed computing platform and operating system featuring smart contract functionality. It is a decentralized platform for money and new kinds of applications. Ethereum is the major platform for smart contracts, tokens and on -chain wallets. Smart contracts is used to describe a computer code that can facilitate the exchange of money, asset, shared or anything of value. The intent of ethereum is to bring together and improve the concept of scripting altcoins and co-chain meta protocols and allow developers to create arbitrary consensus based applications that are high in availability, standardization, feature completeness, ease of development and interoperability.
Pros
- Ethereum allows developers the flexibility to create whatever operation they want
- It makes building of decentralized application easier
- It is corruption and fraud proof
Cons
- Ethereum smart contracts are as erroneous as the people that developed it.
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Comments (3)
May 03, 2020
Ethereum take a clear leas in the category over the last year,but the risks are real. There is an explosion of growth in high-risk decentralized apps over the past year, especially on the Ethereum Blockchain, according to a new report from data analystics site DappRadar. The firquarter of 2020 surged 2,853% year over year compared to Q1 2019- from $0.85 to $25M - and by 948% in terms of daily active wallets.
May 02, 2020
Ethereum is the most prominent platform for both tokens and smart contracts and thus also for onchain wallets. On chain wallets are smart contracts that hold cryptocurrencies and access to tokens and that may offer advanced methods for manipulating the assets. Simply by introducing the role of an owner it becomes possible to transfer all assets of an on chain wallet transparently and securely in a single transaction.
May 02, 2020
Ethereum is the second largest coin in market capitalization behinde king of cryptocurrencies bitcoin. It's usefulness surpasses most of the altoin, in that most of the tokens are been written on its smart contract. Though the transaction fee for ethereum may be higher at time due to congestion in the blockchain.
