Ethereum can eliminate digital forgery, piracy and data theft
Bringing privacy and trustworthiness back to the web has become the driving force behind taking a decentralized approach to distributing applications on the web. Traditional centralized technologies have repeatedly shown their susceptibility to attack: there is an endless litany of data breeches, from heartbleed vulnerability to recent data mining attacks on major health care providers.
Simply put, silos are targets, and centralized servers and their accompanying data centers are the epitome of silos. Ethereum is aiming to eliminate the ideology of silos and dissuade data theft, interception and corruption by altering the very foundations of the web.
Ethereum leverages a decentralized approach that allows programmers to create distributed applications using a combination of platform and programing languages. The Ethereum platform also offers a block chain distributed database, which provides a public ledger of transactions that are published to a distributed network of participating computers.
Several times an hour, a batch of transactions are released in a “block”, which are then validated by the network and added to the “block chain.” A unique cryptographic “hash” identifies each block and transaction and permanently fixes them in chronological order.
Stephan Tual, CCO of Ethereum, describes block chain technology as “a method by which trust can be reached on an open network.” Bitcoin is the first and best known use case, but Ethereum, says Tual, “makes this technology applicable to just about anything else.”
Ethereum uses an ideology which is referred to as contracts, which according to Tual are “programs that follow a series of steps every time they receive a message called a transaction.” Ethereum itself is a “programmable distributed network,” in which all manner of transactions and peer-to-peer agreements can be automated.
A new approach to the basic structure of the Internet
Ethereum is an open source project designed to leverage a decentralized approach to the basic infrastructure of the web, allowing developers to “team together” the unused, distributed potential of the billions of devices that populate the web today. In effect, Ethereum virtualizes an encrypted peer-to-peer encrypted network, which can be shared by millions of users and provides distributed applications to users.
Ethereum based deployments are impossible to censor, control or even interrupt
The advantages are many, as a distributed environment – it is free from governance issues. The combination of encryption and decentralization makes Ethereum based deployments impossible to censor, control or even interrupt.
Ethereum can also eliminate digital forgery, piracy and data theft, thanks to a block chain distributed database. A block chain is a distributed log/database which is replicated across multiple nodes and records all transactions sequentially. That allows Ethereum to create a fully trusted infrastructure that requires no central authority. Block chains are the ideal solution for proving the provenance of any element, where each stage of the production process is recorded under a tag in the block chain record — it could be a certificate, a photograph, a piece of text, a contract — in chronological order, with each new addition independently verified at every stage of the process.
Taul adds “The fact that Ethereum is by its very design fraud and tampering resistant, means that it offers a new range of solutions to everyday problems that are currently solved at great expense.” According to Tual, these include voting machines, domain name registration, registration of legal documents, medical software and transfer of goods and services.
Ending the reliance on centralized servers
Ultimately, Ethereum promises to deliver on a decentralized internet where the reliance on centralized servers can be all but eliminated and applications become distributed, peer-to-peer entities, which are freed from the constraints of a central authority.
Founded in 2013, Ethereum is an open source project that utilizes a blockchain – software that’s controlled by a worldwide network of machines and not by centralized servers. In 2014, the group completed a pre-sale of Ether – a necessary element for running decentralized applications on the Ethereum network – totaling over $18 million. The Ethereum Foundation, a non-profit organization, was later founded with the purpose of managing the funds that were raised from the Ether Sale in order to best serve the Ethereum and decentralized technology ecosystem. Etheruem has active communities world-wide (http://ethereum.meetup.com/).