About Ethereum Card
Blockchain, the technology behind cryptography, seems to be the driving technology behind the next generation of Internet, also referred to as the Decentralized Web, or the Web3. Blockchain is a novel solution to the age-old human problem of trust. It provides architecture for so-called trust less trust. It allows us to trust the outputs of the system without trusting any actor within it.
A Blockchain protocol operates on top of the Internet, on a P2P Network of computers that all run the protocol and hold an identical copy of the ledger of transactions, enabling P2P value transactions without a middleman though machine consensus. Blockchain itself is a file – a shared and public ledger of transactions that records all transactions from the genesis block (first block) until today.
Blockchain is a shared, trusted, public ledger of transactions, that everyone can inspect but which no single user controls. It is a distributed database that maintains a continuously growing list of transaction data records, cryptographically secured from tampering and revision.
The ledger is built using a linked list, or chain of blocks, where each block contains a certain number of transactions that were validated by the network in a given timespan.The crypto-economic rulesets of the blockchain protocol (consensus layer) regulate the behavioral rulesets and incentive mechanism of all stakeholders in the network.
This ledger runs on a peer-to-peer (P2P) network of computers. Distributed consensus based on economic incentive mechanisms (game theory) combined with cryptography allows for secure P2P validation of transactions, thus bypassing the need for traditional trusted third parties. It first came to fame in October 2008 as part of a proposal for Bitcoin, with the aim to create P2P money without banks. All network transactions get stored in the blockchain: Imagine Google Docs: Each person has the latest version of the document, and everybody can inspect it. In order to change the contents of the doc, users need to reach a mutual agreement (consensus). As opposed to Google Docs the file is not centrally stored, but each 2 node of the network keeps a copy of the blockchain – the distributed ledger recording all transaction history.
The Ethereum Card is the #1 global shopping & trading currency including Escrow services for all Stores, Merchants, Brokers and Reverse transaction on its own blockchain (Mainnet).