Review on Ethereum by Emem Eseme

tethereum is a digital platform that allows people to build a range of decentralized application.these application can include security software, voting system and payment methods.Ethereum operates outside the mandate of central government such as banks and government. the idea of ethereum belongs to Vitalik Buterun. her network went live in July 2015, about a year after the token sale. when the hype around ETH began to cool off a bit. the coin price was mostly $1 or so. in 2016 the first significant increase in the exchange rate began.ETH price soared from about $0.95 to $20.59 in six month - an increase of about 2060%. later the ETH rate corrected and the coin traded at $7- 8 the rest of the year. none of the investors suspected the crypto currency boom was just around the corner. since then the popularity has grown rapidly and thanks to it. Bitcoin has more new rivals.



Ethereum operate in an open software platform powered by blockchain technology.this blockchain is hosted on many computer around the world making it decentralized. this platform act like a public ledger that record everything that happen on the network real time, some of the fundamental of blockchain technology that enable Bitcoin to power Ethereum. the structure of the Ethereum blockchain is similar to what we see in Bitcoin. thus a copy of each transaction is distributed through the network.and each node in the network keep copy of each history.

the Ethereum network contain blocks of data consisting of transaction and smart contacts.thusbblock are link together and represent a complete record of Ethereum history from the first block.the blockchain are created by some user and distributed to other users who validate and confirm that they are correct, the blockchain has certain type of consensus alogrithms. the network uses the alogrithms to negotiate a simple correct data value.



smart contract are the secret ingredient of ethereum. the concept of smart contract was proposed in 1996 by Nick Szabo. smart contract are computer program that control the transfer of digital currencies and assets between partie when certain condition are met,smart contract are use to operate a vending machine.