Great article article and video explaining “What is Ethereum?” By Stephan Tual.
My name is Stephan Tual, I’m the CCO for Ethereum
my background is IT, startups and development My role at ethereum is to bring together entrepreneurs, developers and investors to build decentralized applications on our platform Ethereum is an open source platform to build, distribute next-generation decentralized applications That is, applications that have no middlemen where users
interact with social systems, financial systems, gaming interfaces all in a peer to peer fashion Because the ethereum network will be distributed on hundreds of thousands of computers around the globe this all takes place on a censorship-proof foundation We make it easy for developers to build those applications
and we’re planning to launch a live version of our network towards the end of this year. Most of the services you use today have one thing in common: they’re centralized so, for example, you trust your bank to keep your money safe, to be independently audited, and to be honest. The same is true with Facebook when you upload a picture of your kids
when you push a document to Dropbox or even when you go to your medical practice and provide them with your personal medical information As a developer you need to submit your application to an App Store and risk having it removed for the most far-fetched of reasons History has proven time and time again that this model is flawed but necessary as so-called trustless operations
have so far been both unprofitable and too complex to implement Remember that everything that is centralized makes it easy to attack because it offers a single point of failure like the firewall of a website Applications built on ethereum do not require their users to trust the developers with personal information or funds On ethereum, your personal information stays yours
your funds stay yours, your content stays your content Ethereum is an application programming platform so what can be built on ethereum is only limited by the creativity of their developers That said, such technology has three types of applications that immediately comes to mind The first are individual currencies.