That same year he co-founded Bitcoin Magazine and wrote many articles describing his views on the electronic 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 restricted in scope.
The Ethereum white paper was released in 2013, and it recorded a new open-source protocol for creating decentralized software.
Both the Ethereum network and community have grown substantially over the last year. The Ethereum Enterprise Alliance, an initiative working to connect the world’s largest companies to the Ethereum network, recently announced 86 new partners including Microsoft, Intel and BP. Similarly, a profusion of new blockchain projects leveraging the Ethereum blockchain have gained attention and capital.
Released at Thu, 10 Aug 2017 19:22:56 +0000
12 million ether (ETH) tokens were created so the Ethereum Foundation could expand its development and marketing efforts. The Frontier was the first release of this Ethereum network. It was released a year after the crowdsale and provided a bare-bones mechanism for programmers to interact with and build programs on the network.
While working on a number of Bitcoin projects, a 19-year-old developer from Toronto, Vitalik Buterin, conceived the idea for Ethereum. Ethereum was intended to be a robust platform which allows developers to construct blockchain applications. Buterin was inspired by some of the shortcomings he faced when attempting to create programs on the Bitcoin blockchain. He believed that the possibility of blockchain technology was not restricted to financial applications and quickly set out to create a blockchain that could support more prevalent computations.
Ethereum was officially declared 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. Wood soon released the Ethereum yellow paper, which covered the Ethereum Virtual Machine (EVM), the runtime environment that executes all of the smart contracts on the network. Lubin would go on to found ConsenSys, a venture studio focusing on decentralized software.
Ethereum broke into the mainstream in early 2017 when the price of ETH increased by 1000 percent over the course of a couple months. This led to a similar increase in the price of alternative blockchain tokens, dubbed “altcoins.” A slew of new investors immediately entered the area as Ethereum was covered by large media outlets including CNBC, Reuters and Quartz. Investors and developers are awaiting the release of Metropolis, the following upgrade to the Ethereum system promising to abstract a lot of purposes and pave the way for user friendly program layouts.