The three important concepts to know about ethereum are smart contracts, decentralization, and privacy. A smart contract doesn’t require a third party like a bank, notary, or government official to verify it. Decentralization: This stops hackers from changing smart contracts on the ethereum blockchain as there is no single weakness to attack. With a dapp on ethereum, you can put limits on what the smart contract can do with your information and take it back when it’s done. Beyond that, the value of ether is tied to the value which people place in the ethereum network itself.

Source: Mint December 07, 2020 01:07 UTC