While working on a number of Bitcoin projects, a 19-year-old programmer from Toronto, Vitalik Buterin, conceived the idea for Ethereum. Ethereum was intended to be a robust platform that allows developers to build blockchain applications. Buterin was inspired by some of the shortcomings he faced when trying to build applications on the Bitcoin blockchain. He believed that the potential of blockchain technology was not limited to financial applications and quickly set out to create a blockchain that could support more common computations.
Vitalik Buterin was first introduced to Bitcoin and cryptocurrencies in 2011. That same year he co-founded Bitcoin Magazine and wrote many articles explaining his views on the digital currency’s future. He later worked on Mastercoin and some alternate coins based on the Bitcoin codebase. This work led him to believe the Bitcoin blockchain was limited in scope.
The Ethereum white paper was released in 2013, and it documented a new open-source protocol for creating decentralized applications.
Ethereum was officially announced on the Bitcointalk forum in 2014. In addition to Buterin, Ethereum was co-founded by Mihai Alisie, Anthony Di Iorio and Charles Hoskinson. Buterin also announced that he was working with developer Dr. Gavin Wood and Joseph Lubin. …read more