November 27, 2022

Vitalik and Ethereum's Origin Story

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If you're familiar with the crypto space you will know Ethereum, the second largest crypto by market capitalization. But many people don't know the interesting story behind the founder Vitalik Buterin and therefore in this article we are going to discuss who he is as well as Ethereum and what the future holds for the organization.  

Who Is Vitalik Buterin?

Vitalik Buterin is a Russian-Canadian programmer and co-founder of Ethereum. Vitalik was born in Kolomna, Russia, in 1994. He moved to Canada with his family when he was six years old.Vitalik drew inspiration from his father, Dmitry Buterin, who was a computer scientist and professor in Toronto, Ontario.

As a child, Vitalik Buterin was an avid reader and a programmer. He started coding when he was six years old, and in high school, he built his own web hosting service. In 2011, while attending the University of Waterloo, Vitalik co-founded Bitcoin Magazine with Mihai Alisie and Amir Chetrit.

He went on to study computer science at the University of Waterloo, where he first learned about Bitcoin. He was fascinated by the technology and began developing programs that could be used with it.

Buterin then moved to Toronto to work on Ethereum full-time. In 2014, he became the co-founder of Ethereum.

In 2017, Vitalik received the Thiel Fellowship which gives $100,000 in funding as well as mentorship for young people who want to start businesses instead of going to college

The Creation Of Ethereum

Buterin first publicly mentioned Ethereum in late 2013, but did not release the project until 2015. At its launch, Ethereum had an initial coin offering (ICO) that made it possible for anyone to purchase ether tokens (the currency used by Ethereum). The ICO raised $18 million USD in BTC and attracted investors such as Peter Thiel and The venture capitalist Fred Wilson from Union Square Ventures.

What Is Ethereum?

Ethereum is a blockchain platform that allows users to create smart contracts. Smart contracts are automated contracts between two or more parties that are self-executing and do not require a third party to enforce them. Ethereum has been used to create several applications including CryptoKitties (a game where users collect digital cats), Augur (an application for prediction markets) and uPort (an app that lets users manage their identity) as well as many more unique and successful projects.

The Future Of Ethereum

The future of Ethereum seems bright and full of innovations. The Ethereum NFT space continues to grow. The platform is already the most popular for developers to create decentralized applications.

Where other blockchains are focused on being able to handle high transaction volumes, Ethereum is focused on smart contracts—the technology that allows individuals to write code that will run on their own computers. This means that developers can build their own tokens without having to worry about how they'll be able to scale up the network to handle a large number of transactions; they just need to worry about writing code.

This focus on scalability makes Ethereum ideal for companies looking at launching new NFTs or using them in existing products (like games). It also means that if you want to use an existing token as part of your application, there's a good chance it will work with Ethereum first.

Vitalik definitely has a solid plan for Ethereum and we are sure that the organization will grow and maintain its role as a key player in the crypto space. Many crypto projects only last on average a few years, but Ethererum has proven that it's here to stay as well as the revolutionary technology that they have developed. We are excited to see what the future holds for Ethereum as well as the crypto and NFT space. Where do you think ETH is headed? Let us know on our twitter!