Ethereum is a decentralized smart contracts platform that is powered by a cryptocurrency called Ether. It is a decentralized worldwide network of nodes that enforce, execute and validate programs. It enables developers to build and deploy decentralized applications (Dapps) as well as diminishes the need for computing functions like requiring a server, memory, CPU power, as the network worldwide can provide the assistance.
Through the use of smart contracts, it allows Dapps to run efficiently without requiring permissions, going though any intermediary, censorship, fraud, or third party interference.
So, how can it apply to you? Any services that are centralized can be decentralized using Ethereum. Take a moment to think about all the intermediary services that are in existence across various industries. Some examples include: voting systems, banking services like loans, and much more!
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