Uploaded on May 30, 2020
Want to learn everything related to Ethereum? This article explains the concept of Ethereum, covers apps built on this platform, and focuses on challenges in building its infrastructure. So let's get started.
Ethereum and Challenges in Building its Infrastructure
Copyright © Blockchain Council www.blockchain-council.org 1 Ethereum And Challenges In Building Its Infrastructure Want to learn everything related to Ethereum? This article explains the concept of Ethereum, covers apps built on this platform, and focuses on challenges in building its infrastructure. So let's get started. Copyright © Blockchain Council www.blockchain-council.org 2 The Concept Of Ethereum Ethereum is defined as a network of computers that operates as a decentralized platform without requiring any computing function. It offers a platform to Ethereum developers where they can write codes and create dApps (decentralized apps) that are globally accessible. To put its definition in a simpler term, we can say that it is a distributed public blockchain network and a second-most known cryptocurrency after Bitcoin. Copyright © Blockchain Council www.blockchain-council.org 3 With the growing demand to learn this platform, various online courses and training sessions impart certification courses to make you an industry-ready Ethereum Expert. Copyright © Blockchain Council www.blockchain-council.org 4 Top Ethereum -Based Applications Before we discover the challenges, let’s have a quick look at the top Ethereum- powered applications. GitCoin, an Ethereum based platform, pays individuals for working in an open- source software like Python, Java, HTML, etc. KYC-Chain allows organizations to verify their customer’s identities and managing the whole customer lifecycle. Copyright © Blockchain Council www.blockchain-council.org 5 Cent, a user-friendly app, follows a slogan ‘earn income anywhere.’ This Ethereum-based app offers individuals an income-generating social network by creating content, sharing their views, and much more. Vevue, an Ethereum app, monetizes all forms of engagements, thus offers unlimited possibilities to users to earn money. With this platform, people can place requests for videos and encourage them to share short videos and make money. Copyright © Blockchain Council www.blockchain-council.org 6 Challenges with Ethereum Infrastructure Although Ethereum is full of possible applications, designing its infrastructure comes with its own set of challenges. Apart from the problems mentioned below, scalability, flexibility, dealing with block times, parity issues are also the concerns that one has to deal with while building Ethereum infrastructure. Let's have a look at the major issues. Copyright © Blockchain Council www.blockchain-council.org 7 Wallet Initialization- A Prima Concern Just like Bitcoin networks that suffer from backlogs, Ethereum is no more an exception. Wallet initialization is the prime concern because if contract creation transaction is stuck somehow, but the user started sending another transaction at the same time, then it will be impossible for the Ethereum to fire appropriate contract events. Copyright © Blockchain Council www.blockchain-council.org 8 Smart Contracts Difficulties Debugging smart contracts while using the Ethereum platform is complicated. This is because it is hard to find out where the transaction failed. Copyright © Blockchain Council www.blockchain-council.org 9 Connecting Ethereum Requires Manual Efforts For Connecting Ethereum with the rest of the world, it requires manual effort, which indicates it adds a burden at the developer end. Moreover, Ethereum developers have to set up the whole infrastructure via separate Ethereum nodes that lead to unseen hazards. Copyright © Blockchain Council www.blockchain-council.org 10 Conclusion To conclude, we can say that Ethereum has the potential to revolutionalize the way we interact with the world. But to accelerate widespread adoption, it is crucial to eliminate the challenges that Ethereum is facing. Technical inefficiencies (as mentioned-above) need to be eradicated to build a perfect infrastructure. To get instant updates about Blockchain Technology and to learn more about online blockchain certifications, check out Blockchain Council. Cop yright © Blockchain Council www.blockchain-council.org 11 Blockchain Council Certifications You can check out our certifications, and kick start your career in the Blockchain space today. ● Certified Blockchain Expert ● Certified Blockchain Developer ● Certified Smart Contract Developer ● Certified Solidity Developer ● Certified Ethereum Developer Copyright © Blockchain Council www.blockchain-council.org 12 THANK YOU! Any questions? You can mail us at [email protected] Copyright © Blockchain Council www.blockchain-council.org 13
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