Ethereum is considered a very broad programming platform where a developer can build games, financial applications, gambling apps, insurance companies, social networks, and pretty much everything we already use today. However, Ethereum is run off a decentralized system which means there is no main authority holding all the information that’s used to create those applications.
Imagine a network or community of computers linked together throughout the globe. These computers verify each other’s work, anyone can run programs on them, and users can pay for only what they wish to use. This is how the Ethereum platform works.
Ethereum is a system of computers that work together.
If you were to build a social network where the information is stored on one server, under one authority, this means that central authority owns your information and may distribute or manipulate it however they please.
Ethereum was created with the intent that people can build programs we may use every day, which have no middle man, and no central server to house that information. Without a central server, there is no main authority to change or shut down these programs without the entire community knowing.
Ethereum was developed by a nonprofit organization in 2014. Every day great minds across the globe are constantly contributing to the technology to help grow, facilitate, and enhance this groundbreaking platform.