In 2014, a 19-year-old Russian-Canadian programmer named Vitalik Buterin created Ethereum, a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.

This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.

The Ethereum platform is still in its early stages; however, it has already gained significant traction. In June of 2017, Ethereum’s currency, ether, experienced a rapid rise in value.

This was due in part to increasing interest in the Ethereum platform as a whole, as well as speculation that the price of ether would rise in anticipation of the launch of Ethereum’s highly anticipated Casper proof-of-stake algorithm.

Casper is significant because it represents a shift from Ethereum’s current proof-of-work consensus algorithm to a proof-of-stake algorithm. This change is important because it will make Ethereum much more energy efficient and environmentally friendly.

As such, it is likely that the price of ether will continue to rise as Casper drAWS closer to launch.

At just 19 years old, Vitalik Buterin has accomplished a great deal. He has created a platform with immense potential that is already beginning to be realized.

As Ethereum continues to grow and evolve, it is likely that Buterin will continue to play a major role in its development.