What is ETHER

MORE ABOUT ETHER

Ether is more than just digital currency. Although it’s also a blockchain platform it also provides users with many extra features. Ether has grown in popularity due to its extra features and applications such as trading, crowd-funding, voting, smart contracts, and much more.

Two parties can facilitate a smart contract which uses applications in the blockchain to verify negotiations. The smart contract is decentralized making it very difficult to be subject to fraudulent activity. Another attractive feature of the smart contract is that it is less expensive than traditional contracts.

WHAT IS SMART CONTRACT?

Smart contract is just a phrase used to describe computer code that can facilitate the exchange of money, content, property, shares, or anything of value. When running on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. Because smart contracts run on the blockchain, they run exactly as programmed without any possibility of censorship, downtime, fraud or third party interference.

WHAT CAN ETHEREUM BE USED FOR?

Ethereum enables developers to build and deploy decentralized applications. A decentralized application or Dapp serve some particular purpose to its users. Bitcoin, for example, is a Dapp that provides its users with a peer to peer electronic cash system that enables online Bitcoin payments. Because decentralized applications are made up of code that runs on a blockchain network, they are not contr

WHAT ARE THE BENEFITS OF ETHER DECENTRALIZED PLATFORM?

Because decentralized applications run on the blockchain, they benefit from all of its properties.

  • Immutability – A third party cannot make any changes to data.
  • Corruption & tamper proof – Apps are based on a network formed around the principle of consensus, making censorship impossible.
  • Secure – With no central point of failure and secured using cryptography, applications are well protected against hacking attacks and fraudulent activities.
  • Zero downtime – Apps never go down and can never be switched off.