Ethereum and 11 most expensive applications

Ethereum is the largest cryptocurrency in the Crypto market after Bitcoin. The foundation of this coin is an ecosystem with many diverse applications. The following article will reveal the top 11 most famous applications. From there, you will have a comprehensive view of the actual value of Ethereum before deciding to invest in this electronic currency.

"The success of Ethereum technology is 100% applied in practice"

What really is the Ethereum blockchain?
It can be said that Ethereum (ETH) is a breakthrough in Blockchain technology. Compared to Bitcoin, Ethereum is built on the same technology platform, but holds more potential.

Have you ever wondered why people have to develop the second digital currency after Bitcoin? Are they different?

Yes of course! The most notable difference between these two coins is their purpose. If Bitcoin is used primarily as a distributed ledger for financial transactions, Ethereum is developed as a distributed computing platform to operate applications.

Thus, in essence, ETH is not a payment or value storage tool, but a means to apply blockchain technology in practice, and is the foundation for Smart Contract development.

Practical applications of Ethereum
Thus, it can be said that Ethereum's applications in life are relatively diverse. In general, we can divide into 3 main groups:

1. Financial applications:

Financial applications are applications that perform financial tasks such as management, signing contracts, etc. with users' money or assets. Ethereum's financial applications include:

1.1 Payment system
Although the original purpose of Ethereum is not as a payment tool. However, because of the enthusiastic support of investors, ETH has become the coin with the second largest market capitalization. Therefore, it naturally becomes a tool for payment and value storage purposes.

1.2. Invest in gold
Are you worried about the safety of cryptocurrency, but can't resist the "miraculous" profitability of this form of investment?

Then the gold investment application - Digix is the perfect solution for you! With Digix, you can use ETH to buy gold tokens, these tokens are encrypted and closely linked to gold mines in Singapore. Thus, in case Digix goes bankrupt, you can still exchange gold tokens for real gold without any intervention.

1.3. Crowdfunding
Crowdfunding (or crowdfunding) is becoming more and more popular. Accordingly, we also have platforms like Kickstarter or Indiegogo to realize this relatively complicated process.

And in fact, these fundraising platforms are also one of the typical applications of Ethereum technology. This way, startup teams only need to set goals and fill in the necessary information to complete the project profile. Then, smart contracts (Smart Contract) will automatically execute the terms or requirements to complete the process. When successfully raising capital, fundraising organizations will take a % fee calculated on the value of the fund (for example, in Kickstarter it is 5%) and transfer the rest to the startup project.

1.4. Marriage certificate, will
Currently, financial lawsuits in marriage or wills are never-ending topics that still appear "abundantly" every day in life or in the newspaper.

In fact, there are clear regulations or provisions, but people still make "noisy" to claim more rights for themselves. What if all these lawsuits were resolved "quietly"? " by Smart Contract? We can look forward to such a future!
2. Financial sales applications:
Ethereum financial selling application
Semi-financial applications are financial applications combined with non-financial elements, such as:

2.1. Corporate financial management
Have you ever wondered about the effectiveness of management positions in the company? Or have you ever wondered if the Director or Deputy Director always does the best they can for the business or organization?

In fact, everything you are worried about can happen! There have been many management methods applied, however, it is still not possible to completely eliminate this situation. What would be better if there was a system that solved that management problem?

The Dao was born as a venture capital fund based on the decentralized voting system of smart contracts (Smart Contract) to make appropriate decisions. If this project is successful, the vision of lean business management will soon become a reality!

2.2. Financial markets - Elections - Real estate
Manipulated financial or real estate markets, unfair elections, etc. are "contradictory" truths that we have to accept in everyday life.

If you think about a financial market or an election controlled by a decentralized network, do you still expect such a scenario?

Currently, there is still no solution to this problem. However, this is also a "hot" topic for blockchain technology researchers. Therefore, we have the right to hope for a more transparent and brighter future.

2.3. Prediction market
As you know, Ethereum is the blockchain platform that allows the implementation of smart contracts in the most perfect way. That is also the foundation for open source decentralized market prediction applications, such as Gnosis or Augur.

If you are looking for a market that allows predictive analysis, or a website that allows betting to predict outcomes (sports, elections, etc.), then that is the purpose of this application.
3. Other applications
Other applications of Ethereum

These are applications that demonstrate the diversity and wide applicability of the cryptocurrency's "runner-up" technology. They could be:

3.1. Internet of things
If you have ever learned about Ethereum or Blockchain technology, surely the term "World Computer" or "decentralized server" will not be strange to you. It is a server and cloud storage controlled by a network of users around the world. Accordingly, everything is managed by humans in the digital space.

Take the current example, when an ATM runs out of money, people will have to check the machine's condition, and decide to add money to it. This is a complicated and complicated process, requiring technicians to go through many stages, sign dozens of documents, make hundreds of related reports, etc. However, World Computer will solve that problem: The ATM will automatically link with the accounting system and add money to the machine without human intervention, ensuring the highest level of reliability.

3. 2. Web Hosting
A website being vandalized is one of the "nightmares" of developers. Accordingly, long-standing data and programming content will "disappear into smoke".

Understanding that problem, Swarm was born as a comprehensive solution on the Ethereum platform. That way, a decentralized Web Hosting will be hosted everywhere at the same time. Therefore, any act of DDoS attack or attempt to sabotage the Website cannot be performed unless that act is approved by the entire system. If this project is successful, Swarm will have the ability to hinder, or even prevent, censorship and website shutdown by other forces (including the Government).

3. 3. Energy management
Energy sources are becoming increasingly precious, creating a sustainable and continuous source of energy is not easy. Currently, keeping that energy source for gradual use, or transferring it to places that need it is not easy.

The TransActive application will solve those difficulties, helping you manage energy sources more effectively.

3. 4. Social networks
“There is no privacy on social networks" - Orin Snyder, Facebook lawyer

Facebook's lawyer said so, are there any private social networks? What if social networks were managed by all users, instead of a central server?

Accordingly, user activities are encrypted and managed by a network of other users.

It sounds quite absurd, but that is the idea of the Akasha social network, built on the Ethereum network. Currently, this project is still in the research process. However, we can see the potential of decentralized social networks in solving these "painful" privacy issues.

Conclude
Thus, through the article, it is no exaggeration to say that Ethereum's application represents the application of future technology - Blockchain. In terms of market capitalization, Ethereum may be the second "candidate" after Bitcoin. However, in essence, Ethereum was not born to become a coin in the usual sense. To date, it has succeeded in bringing blockchain into practice