Although Bitcoin may have opened the door for peer-to-peer virtual currency, a new platform and programming language is taking blockchain technology mainstream. Ethereum is a decentralized app development platform that could revolutionize online transactions by eliminating the middleman.
Created by Russian-Canadian programmer Vitalik Buterin, Ethereum is a decentralized platform for creating applications that are impervious to fraud, censorship or third-party interference. It can be used to create digital currencies or to transmit funds or data without providing your information to a third party like Facebook, Paypal, or a bank. The key to the system lies within its flexibility – it allows developers to build their own custom blockchains to create decentralized applications that are virtually free from hacks.
Ethereum provides a safe and secure way for users to validate their identity when making online transactions. Since users don’t have to deal with third party services, they have complete control over their personal information and data. The platform has the potential to completely transform the way we interact with online finances, business, and government.
The Ethereum platform was recently awarded the 2017 INDEX: Award, which recognizes sustainable technologies that address global issues.