When most people hear about Ethereum, The first thing they think is in a cryptocurrency, and although $ eth (your native token) is key within its ecosystem, Ethereum is much more than a simple digital currency. It is a platform that has revolutionized the way we understand blockchain technology, applications and how people and other organizations interact with each other.
Ethereum is a decentralized network based on blockchain that allows the creation of intelligent applications and contracts without the need for intermediaries. We can think of Ethereum as a supercomputer that is prepared to program different structures, from which anyone can build applications about the technology that provides you and thus create technological solutions and create value.
It was proposed in 2013 by Vitalik Buterin, a Russian-Canadian programmer who saw Bitcoin’s potential, but believed that he could go beyond enhancing only transactions between addresses or being just a value reserve. The story is interesting behind one of the reasons why the idea of creating Ethereum was born.
Vitalik was a great World of Warcraft player and once changed a rule inside the game, which affected his character. At that time he realized that if someone can change the rules arbitrarily and without the user consensus, then the system is not fair. In this way, the idea of being able to do something that programmatically be law, an immutable code was born in it. His idea took shape in 2015, when Ethereum was officially launched with the support of other developers and the OG Bitcoiners and Cypherpunks World Community.
One of Ethereum’s fundamental characteristics is that it is an open source protocol, which means that anyone can see, modify, expand and contribute to their development. In addition, being decentralized, it does not depend on a single entity to function. This gives it transparency and security, since the data cannot be altered by a central authority.
Unlike Bitcoin, it allows developers to create decentralized applications, known as DAPPS. This is one of the greatest advances that Ethereum introduced. Smart contracts are self-ejecutable programs that allow agreements without the need for intermediaries. For example, they can be used in rentals, insurance or loans, ensuring that the terms are fulfilled automatically. An important characteristic to take into account these contracts is that it gives security to the user that the code cannot be changed after one interacts. You cannot change the rules of what has already been established and agreed.
Today, what we hear about blockchain has been very focused on speculation, especially in Latin America and emerging countries in which the value in the daily use of cryptocurrencies is seen more in a safe way to make digital payments, collect salaries from abroad, combat inflation, invest in Stocks World Cups and applications that are safer.
If you are a developer, it is like being in a simulation, you have unlimited credits to play and create incredible things that allow you and/or depletions.
While Bitcoin is more associated with a value reserve, Ethereum is about the freedom to build value with applications above a technological layer.
Among the large companies that work creating new technological solutions and building value is Matter Labs, the company that created the layer of layer 2: Zksync, One of the most advanced scalability solutions in the blockchain ecosystem. It is a layer 2 scroll that scale the benefits of Ethereum and Blockchain with Zero-Knowledge (ZK) avant-garde technology, which allows rapid and economic transactions without compromising Ethereum’s safety.
Working with a range of local organizations including the support of the digital identity inside Miba with GCBA, the future launch of an L2 with a grant – the Centralized Exchange Leading, the migration of Pinta token from Polygon to Zksync, the basis of Ethereum for Mountain Protocol, collaborating with Openzeppelin for security, support of large local events for developers, much more.
In Latin America, local problems are being solved through Crypto solutions and we see necessary to expand it to the rest of the world. I believe that Argentina is already a world reference in Crypto, it is largely due to the level of talent and potential for developers and entrepreneurs. I always say that “it doesn’t matter what company Crypto is sure there will be an Argentine”, and it is true. At least in the most important Crypto companies in the world there are Argentines working in these solutions leading technological or business efforts.
But in addition to Argentine talent, many innovative and impressive ideas and technologies are born from this country that are due to the latent need of people in the face of the impossibility they find in the traditional financial system, and a large number of people informed and open to make use of this type of technological solutions. Behind many Crypto projects that are born from this country and are based on Ethereum, I see in Argentina a true passion, spirit of resilience and desire to change and improve the world as we know it.
Matter Labs Head of Growth for Latin America
Source: Ambito
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