Ethereum was built around the central focus of creating a protocol for building a variety of decentralized applications with numerous use cases.
They provide a Turing complete programming language where development time, security and interaction between dapps (decentralized apps) are important. A Turing complete programmable blockchain allows a wide variety of smart contracts to be developed which are much more sophisticated than those offered by Bitcoin.
Ethereum is designed on the following five principles:
Ethereum is built as a protocol that is simple and has a vision of being open to all, even at the
cost of data storage and time inefficiency. Any average programmer should be able to pick the
workflow and implement projects with ease.This helps in fully realizing the unprecedented
potential of Blockchain and Cryptocurrency.
The Turing completeness of Ethereum helps in creating any smart contract that can be
mathematically defined. Currency, financial derivatives or your very own Skynet, anything can be built. However if you do plan on building Skynet, you might need to have an array of many interlocking contracts and feed them with enough gas to keep the smart contract running.
Ethereum is designed such that all parts of the protocol can be separated into individual units. Even if somebody makes a small protocol modification in one place, other parts of the application stack would be seemingly unaffected and continue to work without further modification.
Innovations like Ethash, modified Patricia trees and RLP (which will be discussed in future posts) are implemented as separate, feature complete libraries. Ethereum development is done so as to benefit the whole cryptocurrency system rather than just itself.
Constructs of the Ethereum protocol are not set in stone, although modifications to high-level constructs will only be done judiciously.
Non-discrimination and non-censorship
Being a true open for all protocol, any and all kinds of applications can be developed using Ethereum. The regulatory mechanisms used in Ethereum are used to restrict and minimize the harm to the ecosystem rather than restrict a specific category of applications.
For instance, you can run an infinite loop script as long as you pay necessary and relevant charges to the miners for running your code.
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