When we choose to start developing applications on Blockchain, the questions that come to our mind as a developer are…
“From where do I start? Which programming languages will I need to start? “
While being a CEO of an organization or as an entrepreneur, the questions are… “How to upgrade our organization with Blockchain technology? Which blockchain platform would suit my organization best? ” So, in this blog series, we are going to talk about all the available platforms of blockchain and how every platform is going to help any entrepreneur or developer.
Ethereum Blockchain Platform
“80% of applications among all blockchain applications are developed using the Ethereum Blockchain Platform.”
Yes… My reactions were also the same when I came to know that.
So, what is Ethereum??
Ethereum is a hub for developing globally decentralized applications. Ethereum is a new era of the internet or we can say the second generation of The Internet.
How?? An Internet where you build money and make payments. An Internet where there are no problems like spying and stealing.
An Internet that built on open-infrastructure and is not controlled by any company or single person.
Ethereum was introduced in 2015, by Vitalik Buterin, Gavin Wood. Ethereum has its native cryptocurrency called “Ether(ETH)” with many of the same features as Bitcoin. It is a fully secure digital currency that can be sent to anyone anywhere in the world.
Ethereum community is the world’s largest Blockchain community and not controlled by a single organization or person. Let’s see everything decentralized with Vitalik Buterin,
“Developers can build new kinds of applications on ethereum because Ethereum is programmable.”
Ethereum introduced “Solidity(.sol)” Programming language for built application on the top of ethereum. Applications that are built on ethereum are called “DApps”.
Now all terms you need to know as an Ethereum developer are…
|Solidity is a High-level and Object-Oriented programming language for developing smart-contracts.
|Computation fees on the Ethereum network.
|Decentralized Application that was built on Ethereum.
|It is a Library to Connect front-end with the Ethereum network.
|Smart Contract contains the logic of DApps on the Ethereum network.
|Metamask is a browser extension or wallet for signing transactions.
|Ganache is a private ethereum setup for testing and developing smart contracts locally.
|Geth is also a private ethereum setup.
|Truffle is a framework for compiling and deploying smart contracts.
|There are some different networks for deploying and testing smart contracts like Ropsten, Kovan, and Main networks.
Follow the above links to get more information about these terms.
Suitability of Ethereum
Ethereum suits many types of organizations like Financial, real estate, land registry, and gambling.
You can develop below things for your organizations using ethereum…
- Develop your cryptocurrency using ethereum token standards “ERC-20” and “stable coin” that can easily transfer anywhere in the world with cheap transaction fees.
- Make crypto wallets that are used to make payments cheaply.
- Develop financial applications that let you invest, borrow and lend in digital assets.
- Most popular and famous applications are crypto games in this new era and ethereum let you build the crypto games where you can own in games assets.
- Ethereum has much more potential other than this all like big organizations and government are using ethereum for developing land registry systems, healthcare data record systems, upgrading banks and supply chain management.
In short, this blog describes the potential of the Ethereum blockchain platform and its usability. There many more to come with other Blockchain platforms. So, stay tuned…
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