Joseph Lubin, Gavin Wood, & Jeffrey Wilcke were added in early 2014 as founders." Buterin chose the name Ethereum after browsing a list of elements from science fiction on Wikipedia. Anthony Di Iorio wrote: "Ethereum was founded by Vitalik Buterin, Myself, Charles Hoskinson, Mihai Alisie & Amir Chetrit (the initial 5) in December 2013. Įthereum has an unusually long list of founders. Hoskinson left the project at that time and soon after founded IOHK, a blockchain company responsible for Cardano. Six months later the founders met again in Zug, Switzerland, where Buterin told the founders that the project would proceed as a non-profit. Peck subsequently wrote about the experience in Wired. Di Iorio invited friend Joseph Lubin, who invited reporter Morgen Peck, to bear witness. During the conference, Gavin Wood, Charles Hoskinson, and Anthony Di Iorio (who financed the project) rented a house in Miami with Buterin at which they could develop a fuller sense of what Ethereum might become. Įthereum was announced at the North American Bitcoin Conference in Miami, in January 2014. However, after failing to gain agreement on how the project should proceed, he proposed the development of a new platform with a more robust scripting language-a Turing-complete programming language -that would eventually become Ethereum. In 2013, Buterin briefly worked with eToro CEO Yoni Assia on the Colored Coins project and drafted its white paper outlining additional use cases for blockchain technology. Buterin argued to the Bitcoin Core developers that Bitcoin and blockchain technology could benefit from other applications besides money and that it needed a more robust language for application development : 88 that could lead to attaching real-world assets, such as stocks and property, to the blockchain. History Founding (2013–2014) Ethereum co-founder Vitalik Buterin in 2015Įthereum was initially described in late 2013 in a white paper by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, that described a way to build decentralized applications. This has cut Ethereum's energy usage by 99%. On 15 September 2022, Ethereum transitioned its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS) in an upgrade process known as "the Merge". Additionally, many other cryptocurrencies utilize the ERC-20 token standard on top of the Ethereum blockchain and have utilized the platform for initial coin offerings. Ethereum also allows users to create and exchange non-fungible tokens (NFTs), which are tokens that can be tied to unique digital assets, such as images. This facilitates borrowing against cryptocurrency holdings or lending them out for interest. Decentralized finance (DeFi) applications provide financial instruments which do not directly rely on financial intermediaries like brokerages, exchanges, or banks. Ethereum allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact. In 2014, development work began and was crowdfunded, and the network went live on 30 July 2015. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin. It is open-source software.Įthereum was conceived in 2013 by programmer Vitalik Buterin. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. Ether ( Abbreviation: ETH sign: Ξ) is the native cryptocurrency of the platform. Go, Rust, C#, C++, Java, Python, Nim, TypeScriptĮthereum is a decentralized blockchain with smart contract functionality.
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