When it comes to digital currency, Ethereum is second only to Bitcoin. Released in 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, or third-party interference.
As of January 2018, Ethereum has a market capitalization of over $100 billion, making it one of the most valuable cryptocurrencies in the world.
So, who got rich off Ethereum?
The answer may surprise you…
1. The Creator of Ethereum – Vitalik Buterin
Vitalik Buterin is a Russian-Canadian programmer and writer who is best known for his work on the Ethereum blockchain platform.
NOTE: WARNING: Investing in Ethereum is a high-risk endeavor. It is possible to make significant profits, but there is no guarantee of success. Before investing, you should carefully research the cryptocurrency and the platform on which it operates, as well as any potential risks associated with the investment. Additionally, you should consult with a qualified financial advisor or legal counsel before making any decisions.
At just 24 years old, Buterin has an estimated net worth of $400 million to $600 million. The majority of his wealth is in the form of Ether (the native cryptocurrency of the Ethereum network), which he owns approximately 333,000 ETH – or about 0.
4% of the total supply.
2. The Early Investors in Ethereum
When Ethereum launched its public blockchain in 2015, it sold ETH tokens to early investors in a pre-sale. These tokens were sold at a rate of 2000 ETH per 1 BTC (bitcoin). So, if you had invested just 1 BTC in the Ethereum pre-sale, your investment would be worth over $1 billion today!
3. The Miners Who Help Secure the Ethereum Network
Miners are the people who use their computer power to verify transactions on the Ethereum network and are rewarded with ETH for their efforts. As the network has grown, so too has the mining difficulty – and with it, the rewards paid to miners.
Today, a single ETH block reward is worth approximately $619,000! And with there being an average of 12 blocks mined per hour on the network, that means miners are earning over $7 million per hour!.
10 Related Question Answers Found
When it comes to cryptocurrencies, Ethereum has been one of the most popular and successful platforms. It has also been one of the most profitable for early investors. So, who got rich from Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. In 2014, a 19-year-old Russian-Canadian programmer Vitalik Buterin proposed the development of a new platform with a more general scripting language that would eventually become Ethereum. The core innovation of Ethereum is that it enables developers to build decentralized applications (dapps) on its platform.
Yes, you can get rich off Ethereum. 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 ownership of property.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain, helping developers to build and publish distributed applications. The vision of Ethereum is to create a decentralized world computer that would replace many centralized services that we use today.
Ethereum’s creator, Vitalik Buterin, is one of the richest people in cryptocurrency. Buterin’s net worth is estimated to be around $400 million. Buterin’s wealth comes from his ownership of Ether, the native cryptocurrency of the Ethereum network.
On June 17, 2016, a hacker exploited a flaw in the DAO software to drain approximately one third of The DAO’s funds to a child DAO. The hack caused a hard fork of the Ethereum blockchain, with the Ethereum Classic (ETC) chain continuing to follow the original blockchain without the changes implemented by the hard fork. The hacker, or group of hackers, have not been identified.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain, helping developers to build and publish distributed applications. The native currency of the Ethereum blockchain is called Ether.
Ethereum, the decentralized platform that runs smart contracts, is one of the most popular cryptocurrencies today. But who created it? The answer is that no one person created Ethereum.
The Ethereum Foundation is a non-profit organization that was created to support Ethereum’s development and to promote its widespread adoption. The foundation is responsible for managing the Ethereum protocol and funding the development of Ethereum-related software and hardware. The foundation is funded by a variety of sources, including donations from individuals and organizations, as well as proceeds from the sale of Ether.
Vitalik Buterin, a Russian-Canadian programmer, is the founder of Ethereum. He was only 19 when he first proposed Ethereum in a white paper in 2013. Buterin had been involved in the Bitcoin community since 2011, and he had already co-founded Bitcoin Magazine.
