In the internet world of today large amounts of our personal data, passwords, and even financial information are all being stored on clouds and servers for companies like Google, Amazon, and/or Facebook. There are companies who control these servers and hold on to this data and gives us the freedom to access it whenever we wish for a fee.
Although the controlling companies have teams of specialists to store and secure this data, and in-a-way relieve us from costs that associates hosting and uptime, but there is still a percentage of risk and vulnerability as there could be an un-welcomed access to your files (whether the government or a hacker) without your knowledge, resulting in changing, stealing, or leaking information.
Since many are arguing that the internet should be the total opposite of a centralized system, new tools is now being used to guarantee the decentralization of the internet among which is blockchain technology.
Ethereum, being one of the latest technologies of the process of decentralization, aims to use blockchain in order to replace the controlling companies (third parties) -those who store, transfer, track personal and financial data-, and reshape the existing client-server internet model.
How? Ethereum will be replacing servers and clouds with hundreds or maybe thousands of “nodes” -as they are called- run by volunteers all over the globe forming a “World Computer” that cannot be shut down. This functionality will be available anywhere around the globe and will enable people to offer competitive services on this infrastructure.
The main idea of Ethereum is that control over data, notes, information etc. will no longer be in the hands of one party/entity but it will rather be in the hands of the users themselves and no other. Meaning that each time a user saves an edit, an addition, or even deletes information, every node on the network makes the change.
It is worth mentioning that some people are still sceptic of the idea as it is still not clear which blockchain applications will prove to be useful, secure, scalable, and/or as convenient as the applications we use today; even though some applications appear to be possible.