Ethereum was invented in 2015 by Vitalik Buterin, a Russian-Canadian programmer. Buterin had proposed the creation of Ethereum in a white paper in 2013.
The Ethereum network went live on July 30, 2015.
Ethereum is 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 project was crowdfunded in 2014 with 11.9 million ether (ETH) collected.
ETH is the native currency of the Ethereum network and is used to pay transaction fees and fuel smart contracts.
Ethereum has been described as a decentralized world computer that allows developers to build decentralized applications (dapps) on its platform. Dapps are open-source software that run on the Ethereum blockchain and use Ethereum’s native token, ETH, for their transactions.
The Ethereum Virtual Machine (EVM) is a Turing-complete virtual machine that allows dapps to be built on the Ethereum platform. The EVM makes it possible for dapps to run on any computer, making them truly decentralized applications.
In conclusion, Ethereum was invented in 2015 by Vitalik Buterin and has since become a leading platform for building decentralized applications. Ethereum’s native token, ETH, is used to pay transaction fees and fuel smart contracts.
The Ethereum Virtual Machine makes it possible for dapps to run on any computer, making them truly decentralized applications.