Name: Vitalik Buterin explains Ethereum
Uploaded: 2017-08-14T16:11:29.000Z
Duration: 3 min 28 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

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Thanks to the power of modern communication,

Basic passive voice

we have the ability to create technologies that are decentralized,

and allowing users to interact with each other directly through a global network.

Decentralized applications have been becoming more and more important in the past 10 years

and have the benefits of massively reducing costs and barriers to entry,

and ensuring transparency and trust between all the parties involved in an interaction.

BitTorrent, a file sharing network developed in the early 2000s,

is arguably the first decentralized application to have been created.

BitTorrent allows anyone to share any kind of file with anyone else in the world,

allowing people to distribute the content quickly and easily

even if they do not have the resources to pay for their own website or server.

Five years later, Satoshi Nakamoto came up with the idea of a blockchain,

the world's first decentralized currency.

allow people to send money instantly anywhere around the world

Bitcoin is increasingly being used there for international remittances,

and distributed governance are soon to come.

Ethereum is a platform that is specifically designed

for people to build these kinds of decentralized applications

The Ethereum client, which we are calling the Etherbrowser,

in peer-to-peer network for sending messages

and a generalized blockchain with a built-in programming language,

for any kind of decentralized application that they want to create.

Ethereum can be used to build financial applications

that are fully trustworthy and transparent

Online cryptographically secure system is for managing property and contracts,

that allow users to maintain control of their own data,

systems for trading underutilized computational resources

and eventually tools for online voting and distributed governance.

And the most exciting applications of Ethereum

are probably the ones that we have not even thought of.

like the protocols that underlie the internet itself,

Gmail, Facebook, Twitter, Instagram and the modern internet as a whole

are all a result of early developments in the world wide web

and Javascript, the programming language of the World Wide Web from the 1990s.

Similarly by providing a universal programmable blockchain

and packaging it up into a client that anyone can use,

the Ethereum project hopes to do the same for finance,

distributed governance, and human collaboration as a whole.

what will you build on top of the Ethereum?

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