ETH aspires to be a kind of giant decentralized computer, and that is why it is called EVM Ethereum Virtual Machine.
Where BTC can help users avoid banks, ETH can help them avoid Facebook, Amazon and all that layer of centralized intermediaries that has solidified and become entrenched in today’s electronic societies.
Ethereum is a programmable Blockcain: it gives the user a set of predefined operations and allows you to create any operations of the complexity you wish. Instead of giving users fixed fucntionalities like BTC, it allows them to create their own operations. This way it serves as a platform for currencies and other apps.
Cryptos are just one application. Ethereum is Turing complete and developers can use many other langugages besides Solidity.
The Ethereum blockchain even though it can function as an allpurpose computer (ie Turing machine) and thi act as a database, it is not suited for larg-scale storage. Gas fees mount up quickly and there´s also a limit on how much gas can I spend on a transaction block.
Each node executes the codes and therefore for this reason Ethereum VM is defined as a large vault computer where multtiple nodes execute a code called smart contract.
One calculation suggests that it would reuire 66 blocks given an average blokck tie of 13 seconds and thus 14 minutes to upload 1Mb onto Eth BC.
ETH is a programmable BC.
– Allows user create their own decentralized apps on Eth platform as SC
– Instead of building an entirely original Blockchain for each new application, EVM
enables the development of potentially thousands of different applications all on
– EVM is isolated from the rest of the main network: perfect testing environment.
– Every Eth node runs an EVM implementation and executes the same instructions.
– It has been implemented in Python, Ruby, C++, and a few other languages.
– Suit of protoocols that define a platform to run decentralized applications.
– EVM can execute code of arbitrary agorithmitic complexity. Its Turing Complete: developers can create apps.
– EVM is not made to make computation efficient, because its slower. Decentralized consensus is at the core of its added value: it has 0 down time, its inmutable and safe. TRUST, SEURITY AND PERMANENCE: governance, registries, voting ad IoT.
– P2P marketplaces, exchange cash with no intermediaries, ETH may be more far reaching than BTC´s in principle.
Comments by Luis G de la Fuente