Ethereum: Everything I Learned about Ethereum In One Hour

This is honestly confusing.

Stumbling upon the age of the new internet, Ethereum, Bitcoin, and all the other cryptocurrencies have been catching my eye recently. I want to know what all the hype is about. I would like to write about it until I have the knowledge and skills to be able to help others. For now, here is what I found in an hour, looking at Ethereum.Org, I put together some basic information that you can use to look up other information. Here is what I learned in an hour, and please keep in mind some of the information may and will be incorrect.

Photo by Launchpresso on Unsplash

What is Ethereum?

• What is Ethereum? — Decentralized applications and money used to send cryptocurrency
• Through peer-to-peer transactions, governments have no control over your money.

Why does Ethereum have value?

• The value of Ethereum comes from the people, depending on their uses, it allows for direct peer-to-peer payments, no monitoring of your money from a government, and you are able to earn interest on Ethereum and other tokens.
• Monetary value is a “social contract”. Reminded to us by Anthony Sassano, who also did an article on the value of Ether.
• What is the concept of Defi? — Decentralized financial system
• Being a creator, there is an incentive to create and use the Ethereum network.

Why would others use it?

• Banking for everyone, from anywhere.
• Privacy, anonymity in keeping your identity and purchases safe, and secure.
• Can help support creators and website creators in a variety of ways that don’t have to include straight money.
• Your use of certain browsers or stakes in crypto is valuable to others.
• Get back at those over-ruling tyrannical governments who wish to tax your money out the wazoo, and restrict your purchasing power on things.
• Why governments may not like something like this
• Censorship resistance
• Sites and dapps (decentralized applications) running on Ethereum can’t…