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Vernacular Blockchain Dabai Little Class|Introductory Class for 10-100 Years Old Previous section: Section 14 Smart contracts are an art and programmers are artists
 For thousands of years, no matter what means people use, trust issues between people such as breach of contract and fraud cannot be eliminated. Face-to-face contracts between people cannot guarantee 100% trustworthiness of the other party even if fingerprints and seals are added. In an increasingly digital society, it is even more difficult to gain the trust of the other party for invisible and intangible transactions and agreements on the Internet. While the Internet benefits mankind and creates huge value, people still need to pay a large amount of fees, commissions, service fees, etc. to third-party intermediaries to ensure that transactions or agreements can be carried out safely and reliably, such as financial institutions, e-commerce platforms, etc. However, human development will never stand still, and change has quietly arrived... In 2015, a blockchain smart contract platform called Ethereum was officially launched. Anyone can build various Dapps (distributed applications) based on Ethereum. Simply put, it is what we talked about in the previous section: digital gold + smart contracts.  1.Understand Ethereum On the official website of Ethereum, there is a line of words "Blockchain Application Platform" under its logo, just like the Appstore on Apple phones. Anyone can write various codes based on this platform to execute various smart contract blockchain applications. Simply put, as long as you understand technology or learn related technologies, you can create a distributed blockchain application on it, which is often called a decentralized application. From a certain perspective, if the Bitcoin system is a decentralized distributed accounting system, then Ethereum is a decentralized distributed execution smart contract system. Because decentralization can ensure that the automatic execution of smart contracts is not interfered by any person, institution or even the country, at this time, Ethereum has become a trustworthy platform that can replace a large number of functions of central institutions based on technical guarantees.
What are the uses of ETH tokens? ETH is the English code name for Ethereum's token Ethereum. Just like BTC is the built-in asset code in the Bitcoin system, ETH is the built-in digital asset of Ethereum. The purpose is to support the execution of smart contracts and transaction fee payment. The idea at that time was that when running smart contracts through a decentralized system, system resources need to be consumed. When the use of resources requires payment of ETH digital assets, everyone will save resources and not cause waste and malicious attacks to ensure the security and stability of the system. 2.The long-term value of Ethereum lies in the ecosystem The so-called ecology here refers to the various applications on the Ethereum platform, because the more Dapps there are, the more smart contracts will need to be executed and more ETH will be consumed. Of course, quantity alone is of no use. Quality must also be present, and a large number of users must use it. The powerful Ethereum ecosystem can occupy a huge share of the smart contract market, which will naturally increase the value of ETH.
 Ethereum Ecosystem Overview We can see from the famous Dapp list website that more than 500 active Dapps on Ethereum are being put into use, processing nearly 60,000 transactions and more than 17,500 ETH flows within 24 hours (at current prices, approximately 60 million yuan in flow). Main application categories: Games, gambling, decentralized exchanges  The most active Dapp within 24 hours In fact, we can see that although there are many, there is still no "killer" application with very large transaction volume. 3.Why can the price of Ethereum rise so high in just one or two years? Speaking of price, many people will ask why Ethereum has not seen very cool applications. Why can the price rise so high in a short period of time? Is it overestimated? In fact, in the digital currency market, all coins are the same. What everyone invests in is an expectation. The higher the price, the more people support and believe that it can create value. Regarding price, 1co is currently the main driver. With expectations and consensus, since 2017, everyone has thought that the outbreak of 1co was crazy. The early 1co brought various profit opportunities to a large number of investors. Countless people crowded in to grab the dividends, so there were more and more ICO projects, including later private mu projects. Because ETH is basically used to participate in crowdfunding, the ETH transferred to the project party is equivalent to being locked. Some people even say that ETH is the real “bit cash”, because for daily investment projects and other purposes, the most ETH is usually transferred, and the transfer speed is also fast. This is Blockchain 2.0 - Ethereum. ——End—— 『Disclaimer: This article was written by WJ, a small partner of Vernacular Blockchain. The article is the author’s independent point of view. It does not represent the position of Vernacular Blockchain, nor does it constitute any investment opinions or suggestions. 』  ——World Cup Message Prize-winning Guessing Session——  ——World Cup Message and Prize-winning Guess Issue 1—— June 21, 20:00 Beijing time Denmark-Australia How to participate: As long as you leave a message at the end of this article, you are participating in the guessing. The time you leave your message is the guessing number. Game rules:
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