If you want to know what Ethereum is, its importance, application areas, and issues related to its infrastructure, you are on the right page. This article will answer all your questions related to Ethereum.
Learning of Blog
- Ethereum vs. Bitcoin
- Apps built on Ethreum
- Challenges of building Ethereum infrastructure
Before focusing on our concern that what are major issues in building Ethereum infrastructure, let’s understand what actually an Etherum is.
Ethereum can be defined as a network of computers that operates as a decentralized platform without requiring any computing function. It offers a platform where you can write codes and create decentralized apps ( called Dapps) that are accessible globally. Simply, we can say that it is a distributed public blockchain network.
With the growing demand to learn this platform, there are various online courses and training sessions that impart Blockchain certification to become an Ethereum Expert. If you want to be the one, check out ethereum online certifications.
Ethereum vs. Bitcoin
Does the definition of Ethereum make you realize that it is similar to Bitcoin? Though both the technologies rely on Blockchain, a distributed ledger technology, but Ethereum differs with Bitcoin, and we can say it is an extension and innovation of Bitcoin.
There are a few significant technical differences, but the primary point of difference is in terms of purpose and capacity.
Bitcoin solely deals with digital currencies; on the other hand, Ethreum runs the program code for any decentralized app. Ethreum offers a more decentralized approach as Ethereum’s ‘Proof of Work’ works without any interference, unlike Bitcoin.
Apps built on Ethereum Platform
There are several apps powered by Ethereum, though we have listed a few of them.
Cent -This app offers an income-generating social network that follows the slogan- ‘’earn income anywhere’ by creating content, sharing their views, and much more than that. An app is user-friendly and keeps adding new features and listens to user inputs.
GitCoin- It is an Ethereum based platform that pays for working in open-source software like Python, Java, HTML, to name a few.
Vevue- This app monetizes all forms of engagement, thus creating unlimited possibilities for users to earn money. This platform enables people to place requests for videos and encourages people to share short videos and make money out of it.
KYC-Chain-An Ethereum based platform allows organizations to verify their customer’s identities and managing the whole customer lifecycle. The platform’s “identity wallets” will enable people to share only the essential information, and nothing more than that.
What all this platform will bring for us is exciting and yet to discover.
Challenges To Deal With
Though Ethereum is full of possible applications, Building its infrastructure comes with its own set of challenges.
Building Future-Proof Architecture
There are many unique challenges associated with this new evolving technology, and future-proof building architecture is one of them. As Ethetherum is a decentralized currency and code written on this platform cannot be altered or modified meaning, they are merely no possibility of backdoors. This signifies one can land up losing the involved parties a lot of money.
Difficulties with Smart Contracts
Debugging smart contracts while using the Ethereum platform is complex, as it is hard to find out where the transaction failed-out. Finding out better-debugging tools is the only near solution to build better infrastructure.
Bitcoin networks have always suffered backlogs, and Ethreum is another platform based on blockchain technology that suffers from the same. Wallet initialization is one of the prime concerns associated with this platform because if contract creation transaction is stuck in between and the user started sending other transactions at the same time, in that case, it will be impossible for the Ethereum network to fire appropriate contract events.
Connecting Ethereum with the Internet
Connecting Ethereum with the rest of the world requires manual effort as it cannot be done automatically, which means it adds a burden at the developer end. Also, Ethereum developers need to set up the whole infrastructure via separate Ethereum nodes and therefore leading to unseen hazards.
Apart from the challenges mentioned above, scalability, flexibility, dealing with block times(which is around 15 seconds at present), parity issues are other concerns to one has to deal with Ethereum infrastructure.
To hasten widespread adoption, it is crucial to face and eliminate the challenges that Ethereum is currently facing. Technical inefficiencies need to be eradicated to build a perfect infrastructure. Unlike traditional computing, Ethereum has a new way of running computer programs. Talking about future aspects, Dapps will bloom naturally, bringing this into mainstream usage. This Blockchain-based technology has the potential to revolutionalize the way we interact with the world.
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To learn more about Ethereum certifications and become an Ethereum expert, check out Blockchain Council.