Ethereum (www.ethereum.org) — is a platform for creating of decentralized Internet applications (dapps) that works on the basis of smart contracts. “What Bitcoin does for payments, Ethereum does for anything that can be programmed”, it’s often also called cryptocurrency 2.0, was launched by 20-year-old prodigy Vitaly Buterin. This platform is able to affect the principles of Internet structure.
From the point of philosophy sense, this is the next step to re-decentralization of the Internet. A decentralized system – that’s where anyone can join and participate, the system in which all participants are involved in the management and support; the system from where anyone can free leave, and when he does this, the system continues to function despite everything. In a decentralized system, there is no person who can prevent other participants or despotically exercise censorship of content or its use. The Internet was designed to be decentralized, but the way we use made it highly centralized.
In a technical sense, Ethereum is a “world computer”. He took the start from universal computer and soon Ethereum can be viewed as a single computer that the whole world can use. It notionally has only a single processor (no multi-threading or parallel execution), but as much memory as required. Anybody can upload programs to the Ethereum computer and anybody can request that a program that has been uploaded be executed. All programs have their own permanent storage that persists between executions. You might ask why anyone should use such system. To do this, there are many reasons. The main reason is because it makes what you want to do cheaper and easier.
Ethereum can hardly be called typical altcoin. This is both a similar Bitcoin network and application platform as well as full-fledged programming language. The goal of the project is to help developers to build and publish distributed applications that do not require trust in third parties.
The answer to question “Why people buy young and non-common currency?” becomes the key to another idea of Ethereum. In addition to the ability to create applications that are running on the basis of Blockchain technology it’s comfortable to generate new cryptocurrency using Ethereum.
Imagine that you are an artist, and to finance the creativity you have issued your own currency. To support you, people just have to buy some of your coins to invest in your personal IPO.
Imagine a world where everyone can let to issue his own currencies, and people have e-wallets that are able to accept all these currencies. Such currency business could encourage its users by creating a fundamentally new version of bonus points, which can grow in value. The idea of “create your own currency and pay it for the development the product” will be perfect for startupers. This is a new model that has not previously existed principally due to lack of appropriate technology.