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Ethereum 2020
What is Ethereum?
Ethereum is a global, open-source platform for decentralized applications. In other words, the vision is to create a world computer that anyone can build applications in a decentralized manner; while all states and data are distributed and publicly accessible. Ethereum supports smart contracts in which developers can write code in order to program digital value. Examples of decentralized apps (dapps) that are built on Ethereum includes token, non-fungible tokens, decentralized finance apps, lending protocol, decentralized exchanges, and much more.
What is a Smart Contract?
A smart contract is a programmable contract that allows two counterparties to set conditions of a transaction without needing to trust another third party for the execution.
For example, if Alice wants to set up a trust fund to pay Bob $100 at the start of each month for the next 12 months, she can program a smart contract to:
Check the current date
At the start of each month, send Bob $100 automatically
Repeat until the fund in the smart contract is exhausted
Using a smart contract, Alice has bypassed the need to have a trusted third-party intermediary (lawyers, escrow agents etc) to send the trust fund to Bob and made the process transparent to all involved parties.
Smart contracts work on the “if this, then that” principle. Whenever a certain condition is fulfilled, the smart contract will carry out the operation as programmed.
What are the programming languages that are used to write smart contracts on Ethereum?
There are two popular programming languages that are typically used to write Ethereum smart contracts. The first one is called Solidity which has very close similarities to Javascript and C++. The other language is called Vyper which is relatively new that has very close similarities to Python.
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When To Invest In Ethereum 2020