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- First is a decentralised, encrypted information publication system. Basically, it takes a short intrinsic address of some information (a hash, if we're being technical) and return, after some time, the information itself.
The second portion is an identity-based pseudonymous low-level messaging system. This is used for communicating between people on the network. It allows peers to communicate, update and self-organise in real-time, publishing information whose precedence does not need to be intrinsically trusted or later referred. In the traditional Web, this is much of the information that travels over HTTP in Ajax style implementations.
The third portion is the consensus engine. Bitcoin introduced many of us to the idea of a consensus-based application. A consensus engine is a means of agreeing some rules of interaction, in the knowledge that future interactions will automatically and irrevocably result in the enforcement exactly as specified. Consensus engines will be used for all trustful publication and alteration of information.
- The fourth is the technology that brings this all together; the "browser" and user interface
Ethereum vs Bitcoin
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See also
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- Ethereum official documentation
- Ethereum forum
- Ethereum reddit page
- Dapps: what web 3.0 looks like, by Gavin Wood
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