Ethereum: The Decentralised Smart Contract Platform

[Nite]

Ethereum is an open-source, blockchain-based, decentralised software platform that enables the creation of smart contracts and decentralised applications (dApps) capable of executing complex, trustless transactions without the need for intermediaries. It was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer, and launched in July 2015. Ethereum’s native cryptocurrency, Ether (ETH), acts as a fuel for operating the network and is used by developers to pay for transaction fees and services on the Ethereum platform.

Ethereum’s primary innovation lies in its support for smart contracts, which are self-executing agreements with the terms of the agreement directly written into code. They automatically execute transactions and record them on the blockchain when predefined conditions are met. This allows for the creation of decentralised applications that can operate autonomously, securely, and without censorship.

 

[ZayneSchultz]

The idea of having self-executing contracts hardcoded into code that allows transactions without intermediaries is really mind-boggling. In fact, this is akin to the ushering in of a new era where it is not only possible to have transactions that are trustless and applications that are censorship-proof but quite the norm.
With such groundbreaking technology and great adoption, therefore, it should be no surprise if holding onto Ethereum proves a very profitable decision. The thoughts about the future of this coin came to my mind after reading an article on the Internet: "Standard Chartered Foresees ETH Rise to $4,000 Amid ETF Approvals." That would be very interesting to think over what might happen with Ethereum in the future, especially with such forecasts.