Cryptocurrencies

Who created Ethereum (ETH)? – Cryptocurrencies

In 2013, while studying various cryptocurrency projects, including Bitcoin, a young student by the name of Vitalik Buterin offers a white paper. The latter concerns Ethereum, a new blockchain infrastructure that has the characteristic of being programmable. But who is this Vitalik Buterin really? Back on the life of this young engineer, his career, his motivations, his creation and his current role in the development of this architecture.

Ethereum: what should we remember?

Ethereum is considered a global online trading platform that is programmable and usable by anyone who wants to. It is represented by a network of computers that constantly communicate with each other. These are linked by a common database that they share and to which they all have access: the blockchain, where cryptocurrency mining actions Ether are saved.

Blockchain representation

On this basis, developers have the opportunity to create decentralized applications clean to use the reliability and openness of the blockchain: Dapps. These are interesting because they are:

  • Decentralized and therefore accessible on a network of machines (not sensitive to breakdowns);
  • Governed by smart contracts, also called “smart contracts”;
  • Without fear of censorship.

For more information on smart contracts, do not hesitate to consult our dedicated article. As for the wonderful world of Dapps, you will discover its meanders here.

Good to know : Ethereum has a capitalization of more than 15 billion euros in January 2020. It is the second largest cryptocurrency in the world behind Bitcoin. The cryptocurrency linked to Ethereum is Ether (ETH) whose price you can follow by clicking on this link.

Who is the inventor of Ethereum?

The Ethereum project was initiated by Vitalik Buterin. This young Russian-Canadian engineer has been passionate about computers since childhood.

Vitalik Buterin, the creator of Ethereum

What is his background?

Vitalik Buterin was born in 1994 in Russia. At 6 years old, he moved with his parents who settled in the Canada (today, a Bitcoin mining paradise).

A video game lover, Vitalik says in his Personal Biography that he realized the danger of centralized services following a problem with one of his favorite games. Always beware of a disgruntled geek.

In 2011, he discovered the Bitcoin, and quickly finds an interest in this cryptocurrency while quickly understanding its limits. In 2013, after leaving the University of Waterloo, which he had integrated a year earlier, he decided to devote himself fully to his research. Two years later, the Ethereum project is deployed.

Creation of the Ethereum project

Why did he create Ethereum?

The concern for decentralization and generalization of applications is the main reason for the creation of Ethereum by Vitalik Buterin. Its goal was to set up a blockchain infrastructure on which developers could create decentralized applications by signing smart contracts. These smart contracts have led to a real advance in the world of cryptocurrencies.

Did you know ? Ethereum’s blockchain was the first to enable the creation of smart contracts.

What is the role of the creator of Ethereum today?

Cryptocurrencies are by definition decentralized currencies. We are therefore far from a structure in which Vitalik Buterin would be the exclusive owner, even even the majority owner, of the cryptocurrency he created. He remains one of the main players in the development of the blockchain (particularly since some of his colleagues sometimes find themselves being arrested by the FBI for alleged links with certain Asian dictatorships). He presents himself as the scientific director of research and the president of the foundation.

Foundation Director

Ethereum was therefore created by Vitalik Buterin, a small computer genius with an unusual background. Its vision is to broaden the scope of cryptocurrency applications while ensuring decentralization, autonomy and real security in the blockchain architecture of its creation. If you want to know more about this project, do not hesitate to consult our article on Ethereum Dapps.

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