The History Of Ethereum

By now, the Ethereum cryptocurrency is as famous as the Bitcoin, where it is even predicted to overtake the Bitcoins in this 2018, appreciably! This prediction might be true, as the Ethereum is going strong as the second-most cryptocurrency by market cap, only next to the ‘Big Daddy’ Bitcoins. Despite all these, how many of us care to know the reason for the success of the Ethereum aka the History of the Ethereum to understand its popularity better? If you are in the very list, here you go with the facts about the origin of the Ethereum that would help you understand better its purpose and the reason for its surging popularity!

Ethereum’s introduction to the world

Ethereum was developed by the Russian programmer VitalikButerinin 2013! Intrigued by the blockchain technology, he got himself associated with the Bitcoins in 2011 and that was when he felt the urge to create a new platform, whose purpose is beyond the financial use cases of the Bitcoin. About his idea of creating this new platform called Ethereum in his own words,

“I thought [those in the Bitcoin community] weren’t approaching the problem in the right way. I thought they were going after individual applications; they were trying to kind of explicitly support each [use case] in a sort of Swiss Army knife protocol.”

 

So, in 2013 Buterin released his first white paper describing the purpose of the Ethereum and in the early 2014, along with the other co-founders of Ethereum, Buterin launched a crowdsourcing campaign, in where the Ether tokens, the Ethereum network’s very own cryptocurrency was sold to the participants to raise a whopping $18 million fund for the Ethereum project. In 2015, the Frontier aka the first live release of Ethereum was launched successfully and since then, no going back for the Ethereum at all!

Buterin has also kept his promise of providing a blockchain-based platform, whose purpose is beyond the financial use cases and therefore, with Ethereum

  • It is possible to enjoy several methods of exchange, such as the cryptocurrency exchange using its very own Ether, Smart Contracts, and the Ethereum Virtual Machine, appreciably!
  • Both permission and permission-less transactions are possible, unlike the Bitcoins that allows permission-less or public transactions alone.

Thus, Ethereum with its wide variety of benefits is set to take over the market position of the Bitcoin by 2018, according to experts like Olaf Carlson-Wee, the CEO of hedge fund Polychain Capital! Hence, it is the right time for you to invest in this amazing cryptocurrency, for which this Ethereum Code review would be helpful!