Ethereum addresses one of the core issues of the web today: trusting third parties.
The same way Bitcoin is disrupting financial services, Ethereum addresses the issue of internet centralisation.
Let’s first have a look at how today’s web operates compared with a decentralised model:
The current world wide web framework stores most of the data locally. In other words, when you visit a website you trust a third party to
The problem here is that there are no ways of monitoring how user information is handled, if it is safe or not, and whether a third party uses this data maliciously.
The NSA against Snowden case and Wikileaks reports are just examples of what can happen to personal information.
A decentralised system utilises nodes (computers connected to the network) to validate transactions, instead of centralised “cloud” servers owned by a third party.
It creates a permissionless eco-system where end-users do not have to trust one single entity. Rather, the information is cryptographically secured and distributed amongst all the participants of the network that verify its authenticity and record it on the blockchain.
Today we store our data on the cloud, on internet company servers such as Google Drive, Dropbox, Amazon or Box.
Let’s compare both models of online storage:
Decentralisation offers in theory a better file storage opportunity to the end-user: no third party has the control to view, edit, duplicate, delete or lock any files on the cloud.
This methodology can be applied to every product and services. Ethereum aspires to become the “World Computer”: the platform that will enable the transition from a centralised internet to a decentralised one.