(Ping! Zine Web Hosting Magazine) – E-Commerce has always involved a trade-off – make applications reliable and ultra-secure but burden them with slow, complex and expensive log-in and authorization procedures; or make them user-friendly but relatively weak on the security side and prone to error. A new blockchain-based cloud platform by Ethereum (http://www.ethereum.org/) promises to reimagine E-Commerce by bringing about the best of both worlds – combining peace of mind and reliability with speed, agility and affordability.
The old approach to E-Commerce involved building an application to accomplish the necessary steps of a business process, and then tacking on additional software to safeguard transactions, keep out intruders and verify that the terms of a contract have been met on both sides. This approach introduced unwanted delays into otherwise fast-paced commerce and added significant time and cost to the application development process. Using the Ethereum cloud, developers achieve an incredible boost in efficiency as well as substantial cost savings in writing new applications while reimagining business processes and creating opportunities. How? Ethereum enables the unbundling of application logic so that a business can focus on its core software intellectual property. By building this new form of distributed application in Ethereum’s cloud, the resulting software is automatically encoded with transactional security, contractual logic, ownership validation and end-to-end relationship management functionality.
This can fuel the creation of P2P (peer-to-peer) or decentralized network solutions that allow virtual communities to create secure, auditable and hack-proof E-Commerce services and applications. And it comes with a complete suite of tools for building applications on it. For example, digital contracts can be secured and recorded in perpetuity.
Founded in 2013, Ethereum is an open source project that utilizes a blockchain – software that’s controlled by a worldwide network of machines and not by centralized servers. In 2014, the group completed a pre-sale of Ether – a necessary element for running decentralized applications on the Ethereum network – totaling over $18 million. The Ethereum Foundation, a non-profit organization, was later founded with the purpose of managing the funds that were raised from the Ether Sale in order to best serve the Ethereum and decentralized technology ecosystem. Ethereum has active communities world-wide (http://ethereum.meetup.com/). For more information visit: http://www.ethereum.org