Category: ETH

ETH is a decentralized development platform that uses blockchain technology. It was created to allow others to create applications, cryptocurrencies, tokens, or other use cases that benefit from distributed and secure databases.

Virtually anything can be tokenized in databases: information such as passwords, personal data, finances, real estate, debts, and much more. By tokenizing something in a secure database like a blockchain, ownership can be secured and tracked using cryptographic techniques. A blockchain creates cryptographic snapshots of an entire database and includes them in each new block so that the blocks in the chain cannot be altered.

Ethereum functions as a distributed computer with its operating system running on machines (called nodes) around the world. For this reason, it is called the Ethereum Virtual Machine, as anything can be designed to run on it and take advantage of blockchain technology. The long-term goal is to connect everyone through this virtual machine and provide infrastructure to people around the world. As a result, no single entity would have control or access to anyone’s personal data or other information, and therefore would be much less vulnerable to cyberattacks or unexpected shutdowns.