Hello everyone, I am Mr. K, and what we are going to talk about today is: "What impact does Ethereum bring?"

Many people can't understand why Ethereum is the project that has the greatest impact on the industry besides Bitcoin? It is even said that Ethereum is the creator of blockchain 2.0. The reason is that Ethereum is an innovator. It is the first project to apply blockchain technology to other industries and find a new direction for the blockchain industry.

Before the emergence of Ethereum, the product application form of the blockchain was very single. Basically, except for Bitcoin, there were only some "altcoin" projects, and the source code of the "altcoin" was very similar to Bitcoin, resulting in the basic blockchain technology. There was no substantial progress until the emergence of Ethereum, which broke this inherent pattern.

So how does Ethereum do it? V God, the founder of Ethereum, proposed to build a platform similar to Android, IOS and other operating system levels through blockchain technology. At its core, Ethereum has two aspects:

On the one hand, it lies in the underlying data management level. Ethereum has created a decentralized database through the PoS consensus mechanism of the blockchain, allowing user data to belong to the user itself instead of being controlled by a centralized third-party organization. A real network public facility has been realized.

On the other hand, at the upper application level, Ethereum provides a set of programming languages ​​that allow developers to create blockchain applications (DAPPs) that meet their needs and vary in complexity. These applications can be social, transaction, games and more. The core of developing blockchain applications is the smart contract, which is a technology that defines rules through code. Once the conditions of the "smart contract" are triggered, the code will be automatically executed by the program.

After this model came out, it brought two very important impacts. One is to make the blockchain escape from the limitations of digital currency and become completely independent, because Ethereum has proved that data management such as blockchain The idea has its unique advantages, that is, the data is traceable and cannot be tampered with, and it can allow users to reach a relationship of trust without the participation of a third-party organization.

Another impact is that Ethereum has made a one-time leap in the application of blockchain technology. Because the combination of smart contracts and the underlying decentralized database can completely bypass third-party organizations through technology, allowing users to establish relationships and solve trust issues. Therefore, any activity that needs to be based on trust can apply the platform of Ethereum.

Since then, whether it is the application of smart contracts by financial institutions such as banks and cross-border payments, or the research on data infrastructure construction by public institutions such as hospitals, logistics, and governments, it has marked that Ethereum has turned the commercialization of blockchain technology into a reality.

If the digital currency that provides new ideas and technical means for value transfer with Bitcoin represents the era of blockchain 1.0, then the public chain projects represented after Ethereum represent the era of blockchain 2.0 , greatly expanding the application scenarios of the blockchain, making the commercial application of the blockchain a reality. Therefore, we say that Ethereum is the first blockchain project that opened the door to blockchain 2.0 and brought it to the world.

In general, Ethereum has developed to this day. It has had highs and lows. It has been admired and controversial, but it has always been on the road of "smart contract platform", constantly iterating, and never deviate. Perhaps one day in the future, Ethereum can really fulfill its platform dream.