Crypto Academy Homework Week 4 For(@gbenga)

azamrai (65)mutedin SteemitCryptoAcademy • 4 years ago (edited)

Homework week 4 by @gbenga( nigeria) here is the topic!

What is Ethereum blockchain?

Let's discuss on this topic.

Friends!

Ethereum is a blockchain and this application is decentralized at all.

we see what is the rule, in fact some people think that the ethereum is probably bitcoin but there is nothing like it. It is an open source code but it works like bitcoin itself it is common It is decentralized and you know that the centralized items are the company's mark whereas the descentralized ones do not have the shambles of a third party.

Image Source

This is why it is called blockchain It has smart contracts, whereas nothing like this happens in Bitcoin, ethereum is blockchain and therefore most people like it. Now let us see what are the smart contracts but later.

Image Source
The founder of ethereum is Vitalik, a 19-year-old boy, and when he used to tell his views like this, people did not believe his words. When he was working in a college, he made this and released his white paper.

First of all, he told about this cryptocurrency to his friends, close persons and relatives, and asked them to buy it, so that he could give to blockchain its appearance.

Image Source
Initially, the price of such cryptocurrency was very low, but from today, it has increased from 500 to 600 but a thousand times.

Now let us talk about the first of this smart contracts, this man laid the foundation of smart contracts and there is a deal in the ethereum blockchain that if you are sitting anywhere, according to your contract, if the buyer or supplier is sitting anywhere, then they will interact with each other. This business can be done in the best way.

Image Source

Thus in this smart contract you do not need to do any third party involved and do not have any proof of your kind because there is a logic in the Ethereum blockchain that you will get all the percentages that you want.

The best thing that Ethereum is a blockchain and has smart contracts and apart from that it is decentralized. This is a very good thing on which business enthusiasts can be done in a very good style.