Ethereum, what is it? It could best described as a public - blockchain based distribution platform, having smart contract functionality as one amongst it main features, it basically partakes in the approval and working of peer to peer contracts, bought through their own personalized cryptocurrency called the "ether".
How do you buy "ethers"?
Well, it's as simple as it could be, just top up your BTC account using your debit/credit card, create an Ethereum e-wallet on the website, and convert those BTC to ethers and you are good to go! But should you even buy ethers, and what is all this hullabaloo about smart contracts?Smart contracts are basically a means to an end, a facilitator to help you reach the end desired goal, it could help you in one of these many ways for contracting, facilitating, neglecting or putting to use, and checking the performance of the contract based on set rigid standards and parameters.
They could be called as metahumans if we are to indulge! Smart contracting helps you offload the task that you could bring tedium and boredom in your day to day tasks, it could automate the most repetitive of tasks without much human intervention, helping you create an additional amount of free time to spend with yourself, doing what you like or charting greener pastures. Applications, where do you use this product?The applications are wide and varying and not restricted to some particular field of work, let me elucidate it for you a little further,Since it is an artificial intelligence based app, let's start from that avenue itself!Some of the hip apps being developed utilizing the Ethereum platform are the ones as mentioned below, it should be read as the ones under construction that add the most amount of value.
1. Creative
Making google maps more creative, interactive and easier to use A company by the name of the vevue project has already made forays under this category, allowing any or everyone to put 30 seconds or more duration videos on their platform giving a 3D view of a site or street in question.
The incentive provided would be pocketing a few and apt amount of BTC along the way, consumer and the product, all gay and happy!
2. Identity Protection
We live in a world wherein everything has gone 'digital', and there is a marked possibility of the identity of a person being used to elicit ill-conceived gains, this is where Ethereum comes into the picture! With the rigorous blockchain based identity safe proofing mechanism, it would be easier to pinpoint the exact identity of the person in question!
3. Crowdfunding.
Let the ideas flow in. Have a well-meaning, researched, world-altering idea at your disposal? Don't know how to get funding to embark upon a territory much unknown?
Then Ethereum could help you still be on track, with the extensive pool of block chain created, it becomes easier for a person to access pots of funding from any willing investor, having related to your project idea. And while utilizing Ethereum, you don't have to worry about the contractual part, this intricately build service takes care of all of the heckles for you!
So, what are you waiting for douse your fingers in this venture, and Ethereum away! Because with Ethereum you got the freedom about your own money and yes you have many options to use is.
If Ethereum is a bitcoin killer, the future will tell, but having used if for over a year now, I have to say I love Ethereum!
Check their amazing explainer video here:
What is Ethereum?
Image credits: CoinDesk