What is Ethereum?
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). Its native cryptocurrency is called Ether (ETH), which is used to pay for transactions and computational services on the network. Ethereum stands out for its flexibility, allowing developers to build a wide variety of applications beyond simple financial transactions, including decentralized finance (DeFi), NFTs, and more.
Creator
Ethereum was conceived by Vitalik Buterin, a Russian-Canadian programmer and co-founder of Bitcoin Magazine. He published the Ethereum whitepaper in 2013, outlining the vision for a blockchain platform capable of supporting more complex applications than Bitcoin. Other notable co-founders include Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.
Early History
– 2013: Vitalik Buterin wrote and published the Ethereum whitepaper, proposing a new platform with a more robust scripting language for decentralized applications.
– 2014: The project was publicly announced at the North American Bitcoin Conference in Miami. To fund development, the team organized one of the first major Initial Coin Offerings (ICOs), raising about $18 million.
– 2015: Ethereum officially launched, allowing developers to deploy smart contracts and decentralized applications on its blockchain.
Ethereum quickly became the leading platform for decentralized applications and is now the second-largest cryptocurrency by market capitalization, after Bitcoin.
