Blockchain
Is Ethereum going to be an Uber for AWS?
Blockchain is fundamentally allowing anyone with a computer to sell their computing power…
To setup a software startup until early 2000s, you would have to purchase set of servers and host your service on it. With the rise of cloud computing, you can setup a website or run any software in minutes and scale up dynamically based on the traffic, in a click.
Cloud is essentially someone else’s computer!
This model is amazing, allowing software startups and others, to easily fulfill their needs, without managing bulky hardware and maintaining it throughout. Someone else is managing that setup for you, ensuring that the servers are always available, so you focus on building your software, rather than worrying about keeping the servers on all the time.
But, it is centralized! Few major companies are controlling you..
True! When AWS is down, it takes major part of the internet along with it. Many websites and companies goes down, whenever AWS reports an outage. Similar instances happen when Azure or Google Cloud outage happens. These big companies control the way applications and other companies have to run.
On the mobile front, Apple and Google pretty much controls which mobile apps can live and they can define rules according to their liking.
Democratization all the way
When currency is all managed by governments, many people felt controlled and didn’t like the way countries manipulate currency. This gave rise to a new technology — Bitcoin, that would have been totally unthinkable few decades back. Bitcoin is an assembly of various technologies — Blockchain, encryption, peer-to-peer computing — that made it possible to create an alternative currency, without one entity managing it.
It is virtually impossible for one entity to control Bitcoin!
Blockchain, a behemoth, lies beneath Bitcoin!
Though Bitcoin’s purpose is to create a new currency, Blockchain, the fundamental technology behind Bitcoin, has an eye on bigger things.
Ethereum saw this possibility, and is currently in the process of creating, Ethereum 2.0, that will make this a reality.
An Internet, entirely controlled by people
Ethereum allows developers to create blockchain based applications, that are run on Ethereum’s blockchain network — that is, crowdsourced computing. So, your app is running on setup of computers, that are following the norms and rules, developed by the Ethereum network- that is again, an open source community. That means, you don’t need to depend on any one company to launch your app.
Like Uber, anyone can buy a car and offer public to use their vehicles. Like Airbnb, anyone can offer public to use their home or room. Similarly, anyone can buy a computer and offer computing power to companies, to run their applications.
With this, people will control the internet, not few major corporations!
This is a tremendous game changer in how the technology operates, that is still early in the works. This could become next huge thing in how the world progresses or a very grand experiment that didn’t take off. Only time will tell!
