Category: Developer tools for decentralized platforms.
Ethereum’s vision is to act as a virtual supercomputer, with the intention of facilitating the development of decentralized platforms. Ethereum operates with a flexible block chain that allows for very different operations, this enables the development of many different applications that solve different problems. Ethereum’s blockchain runs program codes for these developed applications. A further supplement to ETH is the use of “smart contracts”. These contracts allow two players to enter into an agreement that results in a transaction when a trigger action occurs. A trigger can be a predetermined time, a specified amount of money, etc. The contracts cannot be manipulated and changed as they are stored in the blockchain, and thus verified with the same confidence as in a Bitcoin transaction. These contracts can be combined to give developers the opportunity to create decentralized organizations based on criteria that must be met through smart contracts.