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Folks Ed: What is Ethereum and why should I anchor my data to it?

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  • Tip Bones

Ethereum is the world’s leading programmable blockchain with the native currency Ether. On this blockchain, users can create their own decentralized applications or DApps using smart contracts and have built some really cool games, finance tools, currency exchanges, and more. Smart contracts are pieces of code that run on the Ethereum blockchain and are guaranteed to produce the same result for everyone who runs them and are used as the building blocks for DApps. This blockchain is unique in that it's not just a currency like bitcoin, it is a ledger technology that can be used to create different things, including folks seal.

Now I can explain how something works until the end of time but that won’t explain why someone should want to use it. Ethereum is unique in the blockchain world in that it exists to be built on, it’s a creative tool. Bitcoin was the beginning of cryptocurrency and while more stable the Ether it does not have the technological prowess of the Ethereum blockchain, meaning it can’t do things that aren’t mining currency or recording transactions. We chose Ethereum to anchor your data to because of this, it can do more.

Anchoring your content has a lot of advantages. A data anchor creates an immutable record of when you posted your content. It proves who made a digital asset and when it was uploaded onto the internet. A data anchor can also prove what an asset looked when it was uploaded so that people can see if the content has been altered. A data anchor is an insurance policy for creators to maintain rights over their work and a certificate of authenticity for users to make sure the content they are consuming is authentic.