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What is Ethereum?As you must already know, all our personal data and passwords are stored on others’ computers – in servers and clouds that are owned by big giants like Amazon, Google, and Facebook. These companies charge a fee to hold these data.There are a lot of conveniences with this setup. These companies assign teams of experts who help secure and store the data, and take out the costs that come with uptime and hosting. However, these conveniences also have a vulnerability. A government or a hacker can easily gain access to your files without anyone’s knowledge by targeting a third-party service. Meaning, they can steal your data or leak or change the information entirely.Internet, as argued by the creator of Apache Web Server, was always meant to be decentralized. New tools have sprung up in the recent past to curb this issue. One of those tools is Blockchain technology. And ethereum is another new platform on Blockchain. It’s important to note that Ethereum is not just a digital currency. As stated above, it is a blockchain-based platform with a few important characteristics. It features smart contracts, Ethereum Virtual Machine (EVM), and moreover, it uses its own unique currency called Ether for peer-to-peer contracts.Bitcoin is aiming to disrupt PayPal and online banking system, whereas ethereum’s main goal is to use Blockchain technology and replace internet third parties – such as those, which store information, transfer mortgages, thereby keeping track of complicated financial instruments.In other words, ethereum is aiming to become the ‘world computer’ and decentralize the current client-server model as we know it. Ethereum technology replaces clouds and servers with ‘nodes’ that are run by volunteers from throughout the globe. Its vision is to enable the same functionality to everyone across the globe and warrant them to offer services over this new infrastructure. When you take a stroll in an app store, you will see plenty of colourful squares that represent a lot of things, from banking to food delivery to fitness apps. These applications depend on the company to save your credit card/debit card details, your shopping history, etc. These are saved in servers and clouds, which are controlled by third-parties. The apps that you choose are also controlled by the third parties, just like Google and Apple maintain and censor some apps you download from their stores. Google Docs, for instance.If Ethereum’s plan goes well, it would give the control of the data back to their owner and the creative rights to their author. The main idea behind all this is that only a single entity will no longer have authority over your notes and also no one can ban the app itself. Then, only the user can make changes and not any other entity. So in theory, ethereum merges the authority that people had over their data with easy access to information that we are accustomed to in the digital age. Every time you add, delete, or save your notes, every node on the network is also changed.      

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