Review on Ethereum by Fanuel PORPORTY

Name: Ethereum
Item: Ethereum
Rating: 5

January 06, 2020

Ethereum - The blockchain of decentralized applications

When Vitalik Buterin created Ethereum in 2013, he intended to respond to the limits of Bitcoin by offering a much more functional blockchain. His goal is to extend the use of blockchain to other areas than simple monetary exchange, by having the possibility of creating any type of decentralized applications. Version 1.0 of Ethereum is deployed in 2006 and saw over 1,000 decentralized applications (DApps) launched in one year. The platform is the future of cryptcurrencies. Ethereum works on smart contract technology and cryptocurrency (ETH), which is used to pay for the execution of smart contracts.
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 The goal of Ethereum is to lower transaction costs by eliminating brokerage commissions;  Make exchanges fairer, Secure transactions thanks to a rigorously programmed contract;
 Improve the transparency of exchanges, by making information fully accessible on the blockchain.
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 A new step towards Ethereum 2.0 is underway.  The network will therefore be based on a proof of stake or participation (PoS) profile, this means that to validate transactions and create a new block, a member must have tokens.
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Pros

first blockchain in the world to offer the creation of smart contracts and decentralized applications;
The Ethereum blockchain is Turing-complete and offers almost endless possibilities to developers;
The platform quickly met with great success with project leaders and benefits from a considerable lead compared to its challengers

Cons

The Solidity language is complex and requires new learning from developers. More and more competing projects offer the possibility of developing decentralized applications without having to learn a new language;
The Ethereum network is plagued by many scalability problems. Despite obvious efforts to unclog the network