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 a public blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
Ethereum also provides a cryptocurrency token called “Ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum was initially described in a white paper by Vitalik Buterin, a programmer involved with Bitcoin Magazine, in late 2013 with a goal of building decentralized applications. Buterin had argued that Bitcoin needed a scripting language for application development.
Failing to gain agreement, he proposed development of a new platform with a more general scripting language.
NOTE: WARNING: There is a lot of false and misleading information on the internet about who Ethereum founder is. Do not rely on sources that cannot be trusted. Make sure to do thorough research and verify all information before relying on it.
Ethereum founder Vitalik Buterin.
Buterin was born in Russia and moved to Canada at a young age. He became interested in Bitcoin in 2011 and co-founded Bitcoin Magazine in 2012.
Buterin was initially interested in building upon the Bitcoin blockchain but he became frustrated when he found out that core developers were opposed to increasing the block size limit on the Bitcoin blockchain beyond 1 megabyte. In 2014 he proposed building a new platform with a more general scripting language which he eventually named Ethereum.
In 2015, Ethereum launched a pre-sale for ether which received an overwhelming response; this helped to start development on the Ethereum blockchain. Ethereum was officially launched on 30 July 2015 with 72 million Ether premined for the crowdsale.
This amount represented about 3% of the total supply (which is still being created as we speak).
6 Related Question Answers Found
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 Vitalik Buterin, who was already involved in the Bitcoin community, realized that Bitcoin needed a scripting language for application development. He proposed the creation of Ethereum to the core developers of Bitcoin, and they agreed.
Vitalik Buterin is a Russian-Canadian programmer and writer primarily known for his work on Ethereum, an open source public blockchain platform. He is a co-founder of Ethereum and one of its lead developers. Buterin first became interested in blockchain and cryptocurrency technology in 2011 and he soon became involved in the Bitcoin community, co-founding Bitcoin Magazine in September 2011.
Ethereum was founded in 2014 by Vitalik Buterin, a Russian-Canadian programmer. Buterin had previously co-founded Bitcoin Magazine and was involved in the Bitcoin community before proposing Ethereum as a way to address some of Bitcoin’s limitations. Ethereum’s development was funded by a crowdsale in which participants purchased ether, the cryptocurrency native to the Ethereum blockchain.
Ethereum was first proposed in 2013 by Vitalik Buterin, a Russian-Canadian programmer. He was interested in Bitcoin, but he thought that it could be improved. He believed that Bitcoin needed a scripting language for application development.
Ethereum was created by Vitalik Buterin in 2014. Buterin, a Russian-Canadian programmer, was involved in the development of Bitcoin before creating Ethereum. He was inspired by Bitcoin’s success, but he saw that it had limitations.
Ethereum was founded in 2014 by Vitalik Buterin, a Russian-Canadian programmer. Buterin had previously worked on Bitcoin’s core codebase and was the founder of Bitcoin Magazine. He proposed Ethereum as a way to use blockchain technology to build decentralized applications.
