What is Ethereum Development?
Ethereum Development is a platform that is intended to allow people to easily write decentralized applications using blockchain technology.
A decentralized application is an application that serves some specific purpose to its users. But it has the important property that the application itself does not depend on any specific party existing.
Rather than serving as a front-end for selling or providing a specific party’s services, an Đapp is a tool for people and organizations on different sides of interaction to come together without any centralized intermediary.
The Ethereum blockchain can alternately be described as a blockchain with a built-in programming language, or as a consensus-based globally executed virtual machine.
The part of the protocol that actually handles internal state and computation is referred to as the Ethereum Virtual Machine (EVM).
From a practical standpoint, the EVM can be thought of as a large decentralized computer containing millions of objects, called “accounts”, which have the ability to maintain an internal database, execute code and talk to each other.
There are two types of accounts of EVM:
- Externally owned account (EOA): an account controlled by a private key, and if you own the private key associated with the EOA you have the ability to send ether and messages from it.
- Contract: an account that has its own code, and is controlled by code.
The Ethereum platform is being used to create applications across a broad range of services and industries.
But developers are in unchartered territory, so it’s hard to know which apps will succeed and which ones will fail. Here are a few exciting projects.
Weifund provides an open platform for crowdfunding campaigns that leverages smart contracts.
It enables contributions to be turned into contractually backed digital assets that can be used, traded, or sold within the Ethereum ecosystem.
Uport provides users with a secure and convenient way to take complete control of their identity and personal information.
Instead of relying on government institutions and surrendering their identities to third parties. Users control who can access and use their data and personal information.