Ethereum is a decentralized platform

Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications (DAPPS).

The Cryptocurrency & Blockchain space is growing at a break neck pace. Projects are popping up left and right, many of which have the potential to change the world for better, some for worse. This is why it's important that everyone has a chance to learn about this brave new world.

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

Each smart contract is executed in an environment for which the rules have been deterministic executed.

This means that the beginning state is well defined, as well as the end state.

Decentralization means that there is no central authority, trust is achieved through open-source code and cryptographic systems.

Flexibility of the platform

Unlike Bitcoin which applies one algorithm for both its transaction and its scripting language, Ethereum normally uses two different algorithms; one for transaction confirmation and the other one for scripting. The two algorithms are called ETHASH and CREA. Although different, they are not fundamentally different; they just use different hashing capacities with the same goal of finding a block with valid transactions.

Let's talk about something important now. Ethereum provides its users with a very flexible platform with which they could create smart contracts and all kinds of decentralized apps. Smart contracts are pieces of code which automatically execute when certain conditions are met.

They ensure the cryptography behind all pieces of this project and provide all the features you've heard about on the news nowadays or on social media. Dapps are applications run on decentralized computers formed by numerous nodes across the globe, which makes them incorruptible and tamper-proof.

Similar to Bitcoin, Ethereum is just a protocol and cryptocurrency token. The platform can be used to write good smart contracts, but it also has several shortcomings: complex programming language, slow transactions and high fees that are typical for all Blockchains.

This is why a team of researchers from Stanford University created the new cryptocurrency BCH (Bitcoin Cash) and updated the protocol. Cryptocurrency BCH offers much faster transactions (2-4 minutes), lower fees (1-2 USD) and better programming language.

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