Ethereum is an open-source blockchain-based platform that essentially enables hundreds of decentralized cryptocurrencies and projects to be built and deployed without having to build their own blockchains. It supports a modified version of Nakamoto consensus via transaction-based state transitions.
With the second largest market cap in the cryptocurrency world, Ethereum has drawn a lot of attention from investors and crypto enthusiasts alike.
Ethereum not only presents a significant change to the status quo, it also allows for the quick development and deployment of new applications presenting niche solutions for various industries.
While Ethereum’s utility is obvious to programmers and the tech world at large, many people who are less tech-savvy have trouble understanding it. We’ve provide this guide to appeal to both crowds and expose anyone from complete crypto beginners and intermediates to this
Ethereum provides a decentralized platform for building applications. Ethereum has seen the highest number of projects that are being built on a blockchain platform and also has several interesting, emerging use cases. The projects that are being built on Ethereum are:
Augur, Gnosis: Decentralized prediction market
BoardRoom: Blockchain governance platform
Colony: Platform for autonomous blockchain organizations
BlockApps: Tools to build decentralized apps
Airlock: Keyless access protocol for smart property
Provenance: Gather and share information & stories behind products
Slock.it: Smart locking and billing for the sharing economy
DigixGlobal: Technology to own gold assets
WeiFund: Crowdfunding platform
Maker: Autonomous bank & market maker
HitFin: OTC derivatives settlement
Solidity: Online compiler
EtherPArty: Smart contract deployment tools
Eris Industries: Eris industries, which was initially built based on the Ethereum code, has reworked and has released its platform for anyone to build and deploy blockchain and smart-contract-based projects. Eris Industries has been supporting projects that are further going to be developing open platforms to develop decentralized applications.
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