Today let us learn about basic understanding of ehthereum, what is ethereum, why we use it
What is ethereum ?
Ethereum is a decentralized,open-source blockchain with smart contract functionality, moreover ethereum is a decentralized computer network that executes programs called as smart contract.
Using these smart contracts developers are able to create or develop digital assets it includes creating digital artworks and collectables,video game assets like weapon skins,interesting it also includes digital representation of real world entities like tickets to real world concert,events or movie or even one create their own cryptocurrency, or token, that can be purchased with Ether.
Now Combining these smart contracts with user interfaces developers are able to create variety of decentralised applications, basically dapps includes games,marketplaces and so on.
what are technological benefits of Dapps ?
These technical benefits are very closely related to the backbone of ethereum architecture as whole
- There is zero downtime : since it has peer to peer network there is no single point of failure.
- Privacy : Developers or any user doesn't really reveal their real world identities in order to build these dapps or to use them
ETHER
Ether is a cryptocurrency of the ethereum network , it is basically a decentralised token.
Ether is mainly used for two purpose :
- It is traded as digital currency in exchange of other cryptocurrencies
- Ether is like a fuel for running commands on ethereum platforms and is used by developers to build and run application on the platform
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