Bitcoin was the first official mainstream application of blockchain technology. For four long years after its release, the only tried and tested use case of blockchain was cryptocurrency. This belief was challenged by nineteen year-old Russian-Canadian programmer, Vitalik Buterin who submitted a white paper that proposed a new approach towards blockchain in the winter of 2013. This project went under development after funding was achieved by a crowdsale held between July and August 2014.
The project, later named Ethereum by its founders, went on to become a revolutionary platform within the blockchain technology. The main idea behind Ethereum was to use blockchain in applications which were not limited to cryptocurrency. Ethereum has been dubbed by several blockchain experts and enthusiasts as ‘Blockchain 2.0.’ This is because the architecture of Ethereum is more developer-friendly and allows more use-cases and applications.
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Ethereum, as a platform, is used to create what developers call DApps (short for Decentralized Applications). These software applications, unlike traditional computer/mobile apps, are not governed by a central server. DApps use cryptographically encoded blocks and are therefore more secure and reliable than traditional web apps. Since there is no mastercopy of a DApp, downtime is also next to none.
Now that you have a basic understanding of what a DApp is, let’s look at a few trending applications based on Ethereum in the market. We will also look at Ethereum job trends.
Ethereum DApps: The Future of Applications?
As discussed earlier, when compared to traditional applications, Ethereum DApps offer several advantages. These include:
- Improved stability
- No downtime
- Higher reliability
- No need to integrate third-party payment gateways. Users can transact directly using Ether.
- Signing up or creating an account is not required. Users are automatically assigned credentials.
- Proven privacy and security
All these advantages are probably enough for most developers to start adopting the blockchain approach for application deployment. In fact, several tech giants like IBM and Facebook have started working on projects over blockchain. We might even see blockchain renditions of popular mobile and computer apps in the very near future.
Hope you liked our take on Ethereum DApps and the job market for this amazing blockchain platform. By now, you may have already decided whether or not Ethereum should be your next career milestone. If you have, check out our comprehensive Ethereum course here. Not sure whether blockchain is the right career path for you? Read a few more blogs here and decide for yourself.
If you have any questions regarding Ethereum, Blockchain or DApps, feel free to write to us in the comments section below. We’ll be happy to interact with you!