Benefit of Ethereum Blockchain Technology for Decentralized Applications
In the 21st century, we have entered into a technology-driven world. Everything revolves around technology, and decentralized applications is the field where developers have a lot left to explore. Ethereum blockchain technology is used for making decentralized applications. Without getting too technical, let’s try to explain about Ethereum first, and after that, the Ethereum Virtual Machine (EVM).
What is Ethereum and the Ethereum Virtual Machine?
Ethereum helps in building decentralized applications, based on blockchain technology. Ethereum is one application of blockchain; bitcoin is also an application of the blockchain, but both apps are used for different purposes.
The Ethereum Virtual Machine: When blockchain technology was developed, it had limited applications, such as bitcoin and different cryptocurrencies. Later on, Ethereum blockchain technology came into existence. EVM is Turing-complete software that aids in building blockchain applications. Using the EVM, the process of building a blockchain application become easy, and there is no need to build a separate blockchain for new applications. That means development of different applications are possible on one platform, using Ethereum.
Benefits to Using Decentralized Applications
Ethereum is used for building decentralized applications. There are many benefits to using decentralized applications, such as:
Immutability: Decentralized apps are completely secure, and do not allow any third party to make changes to them.
Riskless: These applications are based on secure cryptography. That make it difficult to decode these applications, and also protects from hacking and fraudulent activities.
Lack of Censorship: All the applications developed by Ethereum are based on the principle of consensus; this makes censorship impossible.
No Downtime: Decentralized Applications never get degraded; this means they can’t be switched off.
Smart Contract Code: Ethereum blockchain applications run on a self-operating computer program known as smart contract code that automatically executes and handles when any unexpected condition is met.
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