Many say that Ethereum has the potential to replace internet third parties. In this article we would like to give you a short description of what Ethereum really is and what you can do with it.
Nowadays, all digital data are stored on PCs and servers across the world. Many of these servers are controlled by large organisations that act as a central player that maintain these servers and hold it’s data.
While Bitcoin aims to become the new electronic and decentralized payment standard, Ethereum focusses using the blockchain to replace online third parties that act as a digital server on the Internet.
Ethereum aims to replace the client-server model with thousands of so-called “nodes” that are runned online by volunteering individuals all over the world, turning the Internet into one large “world computer”.
Current banking and/or social media apps that we use on our smartphones every day are heavily reliant on third-party services to store our data (payment, purchase, personal, etc.). Ethereum offers developers to build decentralized apps (Dapps) on top of the Ethereum blockchain infrastructure without needing to be reliant on another third-party’s service to store data. Ethereum enables developers to return the control of data for these kinds of services back to its owner.