- Posted by Iris Admin
- On May 8, 2017
- 0 Comments
With Ethereum, however, the “cloud” is decentralized – there is no Amazon like entity that owns the network or infrastructure. It’s made up of nodes that can be owned and operated by anyone using the laptops, Raspberry Pi’s and desktops we already have. In the near future our phones will also join in—before long, we’ll be witness to a decentralized network that’s global in scope with billions of nodes working together— the world computer.
Recently a coalition called the Enterprise Ethereum Alliance was created. Founding members include Microsoft, J.P.Morgan, Intel, BP and others who have essentially put a post in the ground, confirmed that blockchain is for real, and that Ethereum is the blockchain technology that will bring these new use cases to attainment.
If BlockChain(s) impregnate our world as widely theorized, and Ethereum is the network of enterprise blockchains, then having access to the network resources will be important. Much like how Cloud provider charges by the resource hour or utilization, Ethereum runs on ammunition that is a transaction fee paid in Ether as an incentive for the nodes’ participation. Simply, to run an app or release a coin on Ethereum, you’ll need Ether with pay as you go model.