An Ethereum Case Study

Ethereum has hit the ground running since its introduction by its creator, Vitalik Buterin, back in 2014. Ethereum launched in 2015. It is the largest and most entrenched open-source decentralized that supports Smart Contracts and decentralized applications, or Dapps.

While Bitcoin has the goal to disrupt online payment systems, Ethereum is attempting to replace the internet intermediaries using the Ethereum blockchain. What Ethereum does is replace all middlemen, such as servers or payment services, with nodes.

Nodes are computers of volunteers across the globe. Let us take Youtube as an example. Recently, there has been an active discussion about Youtube demonetizing certain channels. With Ethereum this would not be possible. The idea of Ethereum, applied to Youtube, is that no organization or individual other than yourself, the owner of your channel content, can make changes. For instance, Youtube could not close your channel, or demonetize it if the service was built on the Ethereum blockchain.

Ethereum miners earn Ether, which is the fuel token to the whole network. It is both a tradeable cryptocurrency and a medium for developers on the blockchain to pay for transaction fees and other services on the Ethereum network. While ...............

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