Ethereum

History of Ethereum

Ethereum’s co-founder, Vitalik Buterin got involved in Bitcoin and Blockchain when he was a 17-year-old programmer in 2011. His curiosity and interest in the same led him to co-found Bitcoin Magazine. Vitalik could foresee the future of Blockchain that went beyond the financial use cases permitted by Bitcoin.

In 2013, he published a whitepaper detailing his vision for Ethereum, using general scripting language. Ethereum was a better Blockchain platform than Bitcoin because of its trading capacity, which goes beyond the trading of just cryptocurrency.

Buterin and other co-founders of Ethereum sold Ether in a crowdsourcing campaign, in the year 2014 to raise funds for their vision. They successfully managed to raise more than $18 million. It was followed by the first live release of Ethereum tokens in 2015. The launch was known by the name Frontier and it marked the beginning of a platform that continues to grow and have hundreds of developers involved.

The price of Ether experienced dramatic fluctuations, however, it grew by 13,000% in 2017. This growth was attractive to many, but also flashed caution sign to several other investors.

Ethereum is still a fledgling platform that has huge potential to grow. Unlike Bitcoin, it is less monopolistic and more flexible with reform measures. Buterin envisions Ethereum to be the ultimate Blockchain solution that will provide a platform to all use cases of Blockchain that can’t access a specialized system.