When the ethereum was first introduced, the starting price was almost $8. As the time passed the price increased and became more than $200 gushing the market cap to about 18.5 million dollars. It was no surprise when it was seen that the price of ethereum was rising very fast because all the cryptocurrencies were observed to see a hike in price which was not expected.
The functions that ethereum can perform is huge. The platform that ethereum provides that is a decentralized one is used for multiple purposes such as making distributed applications and smart contracts and they can be traded as well- Ethereum Code
What is Distributed Application?
It is an application that is software which will be running on multiple computers within the network at the same time. These applications are stored on platform that is remotely available known as the cloud. When a command or a task is given to the computer system it will communicate with other systems within the network to compute and finish the task. Unlike other general applications that require only single computer to finish the task.
Distributed Application In Detail
Distributed application, in short, is also known as DApp. This app is created in such a way that it will let the users in the network to perform the following functions
- Integrating and sharing ideas with other systems within the network.
- Synchronise and complete the task within the network.
- Accessing information from other systems within the network.
- With the means of server, exchanging applications.
A network that has client-server is used for developing DApps. The users within this network will be accessing server or remotely available server to get the necessary information. Blockchains that are used in cryptocurrency, make use of these distributed applications to manage the digital market that will work efficiently. They don’t make use of the traditional network that is client-server. Instead, blockchains will be running on a network that is peer to peer. When two users perform the transaction, the information related to the transaction is made a record of and then this information is shared on multiple systems in that network. The multiple systems we’re talking about here are nothing but nodes.
Since ether is the digital fuel for creating an ethereum network lot of people who developed applications are demanding for ether. A technology that provides decentralized ledger is a thing now that is being considered by many organizations and professions.