Review on Ethereum by alexander hanje
ethereum network platform
ethereum is a decentralized and completely independent system that is not controlled by any person or power. This system does not have the problems of the centralized system, because it is managed and used by thousands of volunteer computers around the world, so it means that it will never be offline and turned off. In addition, users' personal information will remain secure on their personal computers, and content such as applications, videos, etc. will remain under the control of their creators and they will not have to follow the rules of hosting services such as YouTube.
It is also important to understand that the two competing currencies, Bitcoin and ethereum, are two completely different projects with completely different goals. Bitcoin is the first cryptocurrency and is a money transfer system supported by public account office technology, called blockchain.
ethereum has also used bitcoin-based technology, while improving its capabilities significantly. ethereum has a complete network with its own browser, programming language and payment system. Most importantly, it enables users to create decentralized applications on the ethereum blockchain.
Pros
- The whole platform is decentralized. This means that it does not rely on one point. Therefore, all programs will always remain online and will never be turned off.
Cons
- Although smart contracts are designed to eliminate network error, their validity depends only on the people who have coded them. There is always human error, and any coding error can be misused.
