/ ethereum

Beginner's guide to Ethereum

This is a repost from the site www.ethmonthly.com

As our first article for EthMonthly, why not start with a collection of beginner's guide to Ethereum. The goal of this post is to get anyone familiar with the main ideas of Ethereum and how some visionaries see it evolving. Have fun!

Here's a good article about the Ethereum for beginners.



This article shows the potential of ethereum.
A few months ago, Nawal Ravikant (founder of AngelList) did a tweet storm about the ICO and potential to disrupt any industries. THe fact that Ethereum is a Turing-complete language, it allows you to code very complex contracts on Ethereum.

If you want to hear more from Vitalik himself (the creator of Ethereum), you can check this video:

Smart contracts

One of the key premisse of Ethereum and why people believe it will impact many industries, is the Smart Contract idea. One way to view this, is all the money/resources we currently use for running corporations and entities could be automated through a blockchain. Bitcoin proved it can work (to a certain degeree) and money is an usually hard product to get right. Now take this idea and apply it to legal products (such as legal contracts or business contracts), then you could see a whole industry (such as lawyer's for those contracts) disappear just like it happened with other industries (retail with Amazon, journalism with Facebook, etc...).

The Power of blockchain:

Nawal Ravikant recently did a tweet storm about the blockchain how it can disrupt current industries.


I love this quote :

As society gives you money for giving society what it wants, blockchains give you coins for giving the network what it wants.
Blockchains pay in coin, but the coin just tracks the work done. And different blockchains demand different work.