Internet users don’t have sole control over the data they share on today’s websites.
Ethereum is unique in that it attempts to wield the blockchain as a way to correct what its designers believe is a problematic part of the internet’s design.
It’s like a “decentralized appstore” where anyone can publish their unstoppable apps (dapps), which unlike today’s apps (think Gmail or Uber) don’t require a middleman to function or to manage a user’s information. Read more
A smart contract is a programmable contract that resides in software or on computer protocols. Smart contracts were first hypothesized in the ’90s by the famous cryptographer, Nick Szabo, but have only come to fruition through the development of blockchain technology.
Smart contracts aim to provide security superior to traditional contract law and to reduce other transaction costs associated with contracting. Read more
People use the term ‘blockchain technology’ to mean different things, and it can be confusing. Sometimes they are talking about The Bitcoin Blockchain, sometimes it’s other virtual currencies, sometimes it’s smart contracts. Most of the time though, they are talking about distributed ledgers, i.e. a list of transactions that is shared among a number of computers, rather than being stored on a central server. Read more
The truth is “mining” is a misnomer. When gold is mined, nothing is achieved beyond the discovery of new gold. When a cryptocurrency such as bitcoin is mined, however, a valuable service is provided to the network: decentralized transaction recordation and validation. Read more