Ethereum Use Cases Revealed on Reddit
Ethereum has been growing in 123chill popularity over the past few years, and a recent contest on the site gave developers the chance to show off their wares by submitting scaling solutions. Winners were chosen from a group of applications that take some of the burden off of the main Ethereum blockchain and allow it to realestatespro support more transactions and lower fees. In addition, a program like Reddit’s was founded to help developers create new applications using the platform.
A recent example of this is a music streaming platform that uses the Ethereum blockchain to manage royalties. The platform’s Mycelia smart contract payment system allows users to instantly compensate artists. Music lovers can also contribute to the project through the creation of a “Mycelia” collective, which aims to run its entire landnewsnow database on the blockchain so that artists are properly compensated. In addition to this, users can support artists with membership tokens, which are based on Ethereum.
There are other potential uses for the Ethereum platform. One Redditor suggested using the platform for decentralized autonomous organizations. The new system would eliminate the need for a third-party intermediary, allowing for secured transactions with lower fees. The same can be said of smart contracts used for real estate. In fact, a recent Redditor compared Ethereum to popular platforms. The Ethereum platform, he argued, could replace a alltimesmagazine party, allowing users to access information and make payments at lower costs.