What is the purpose of Ethereum building a world computer?

Since the beginning of 2016, those who closely follow the digital currency industry have been eagerly watching the development of Ethereum, the second-generation cryptocurrency platform.

As a relatively new development project that uses Bitcoin technology, Ethereum is committed to implementing a global decentralized and non-ownership digital technology computer to execute peer-to-peer contracts. In simple terms, Ethereum is a world computer that you cannot shut down.

The innovative combination of encryption architecture and Turing integrity can promote the emergence of a large number of new industries. On the other hand, traditional industries are under increasing pressure to innovate and even face the risk of being eliminated.

Supporters say the innovation could eliminate censorship, fraud and the role of third parties in online collaboration.

Ethereum Virtual Machine

The Ethereum Virtual Machine (EVM) refers to the part of the protocol that handles internal state and computation. It is often cited as the project's defining innovation to other blockchain systems.

By using the Bitcoin encrypted payment structure and adding a Turing-complete scripting language, Ethereum attempts to establish the most viable tool for executing smart contracts using blockchain technology.

The term "Turing complete" here refers to a system that can perform any logical step in a computational function.

The technology that has the most widespread adoption of Turing completeness is JavaScript, the programming language that powers the World Wide Web. Smart contract technology describes a computer protocol that has no contractual terms but is executed and enforced automatically.

Ethereum differs from Bitcoin in that it is not based on a payment system, but on a computing platform.

The Ethereum blockchain's cryptocurrency, ether, acts like the "fuel" needed to power the computing platform. Miners consume ether in exchange for resources on the Ethereum network.

The more ether a user has, the more power they can provide to the Ethereum Virtual Machine’s computing engine.

Automation Enterprise

One of the characteristics of 21st century enterprises is that the role of enterprise employees is machines rather than humans.

Bitcoin is an example. Miners in the Bitcoin network can be considered machines rather than humans in the traditional corporate model.

Ethereum takes 21st century business a step further. Interestingly, the role of the consumer (currently humans) is replaced by machine functionality as a smart contract system that can automatically make end-to-end payments without human intervention.

Ethereum can help foster an economy of connected devices, where machines will move money and data far more efficiently than human input ever could. Companies that ignore this development will ultimately pay a high price as new enterprise supply channels emerge without traditional third-party infrastructure.

In the future business environment, enterprises will operate automatically like machines.

Today’s consumers expect instant, global and frictionless payments. Half of millennials expect technology startups to disrupt the traditional banking sector.

Ethereum today is like Bitcoin in 2010 — poor infrastructure, lack of developers, and skepticism everywhere. Ethereum’s competitors, such as Rootstock, are closing in on the competition.

From unreliable crowdsales to democratic corporate organizing, smart contract platforms will open up new frontiers in Internet innovation.

Original article: http://www.coindesk.com/whats-big-idea-behind-ethereums-world-computer/
By Travis Patron
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/ethereums-world-computer)