Ethereum

 Hey guys :) I’m back with another comprehensive Q&A piece, this time for the leading open-source platform for decentralized applications Ethereum.

What is Ethereum-

Ethereum is a global, open-source platform and programmable blockchain that enables developers to write code that controls digital value, runs exactly as programmed, and is accessible anywhere in the world.

Ethereum is building the foundation of our digital future by enabling developers to create and develop unstoppable and censorship-resistant decentralized applications. It’s not owned or controlled by any single entity, it’s a community built technology that’s behind thousands of cryptocurrencies and applications you can use today. 

Ethereum is the base protocol layer of our decentralized digital future and it currently powers the most important cryptocurrencies and blockchain-based applications and technologies in the world. 

What’s more?

Ethereum builds on Bitcoin’s innovation of a sound digital money without payment providers or banks with its own native cryptocurrency, Ether (ETH). 

But unlike Bitcoin, Ethereum is programmable and its digital currency Ether can be used for more than payments. It can be used in decentralized financial services, games, and apps that can't steal your data or censor you. 

Also, since Ethereum is programmable, lots of different digital assets (including Bitcoin) can be used in Ethereum-powered applications and technologies as well.

Important Ethereum Features: 

Open-Source & Decentralized
Ethereum operates in a decentralized manner across thousands of computers distributed around the world. No one owns or controls Ethereum and it’s code and technology is freely available and open-source. 

Censorship-Resistant
No government or company has control over Ethereum because it’s decentralized. This decentralization makes it nearly impossible for anyone to stop you from receiving payments or using services on Ethereum.

Peer-to-Peer
Ethereum operates on a peer-to-peer (P2P) network meaning you can move money, or make agreements, directly with someone else without the use of a third party or middleman. 

Programmable with Smart Contract Functionality
The Ethereum blockchain has programmable code with smart contract functionality, meaning the code will execute when specific conditions are met. This enables developers to build and deploy novel decentralized applications. 

Compatible by Default
Ethereum-based products and applications are compatible by default so that companies and developers can build on each other’s success. 

Who and When Created Ethereum?

Ethereum founder, Vitalik Buterin

Ethereum was first conceptualized in late 2013 by Vitalik who proposed a whitepaper titled ,

In this whitepaper, Buterin introduced an entirely new concept for blockchain technology, describing Ethereum as a distributed world computer for executing and storing computing programs.

Following the release of the Ethereum whitepaper, other developers and blockchain enthusiasts including Anthony Di Iorio, Charles Hoskinson, Mihai Alisie, & Amir Chetrit joined Buterin in bringing Ethereum to reality. 

Then in early 2014, Dr. Gavin Wood, Joseph Lubin, and Jeffrey Wilke began working on Ethereum and became recognized as founders as well.

To this day, Vitalik Buterin remains incredibly active working on Ethereum and its expansive ecosystem and is largely known as Ethereum’s figurehead. 

As for Ethereum’s other core founders: 

Gavin Wood became Ethereum’s chief technological officer (CTO) and wrote the Ethereum yellow paper, but later left the project in early 2016 to start working on another blockchain project called Polkadot. 

Joseph Lubin remains active in the Ethereum ecosystem and went on to form Consensys, which is now a global blockchain technology company that solves real-world problems with Ethereum blockchain solutions.

As for the others, Jeffrey Wilke and Amir Chetrit worked as Ethereum developers for quite some time but now focus on other endeavors; Anthony Di Iorio moved onto other crypto/blockchain ventures; Charles Hoskinson had a falling out with the team and left Ethereum to create Cardano, and Mihai Alisie remains as an active core Ethereum developer.

Now, going back to the launch of Ethereum, the team held a public token sale of the project’s native cryptocurrency, “Ether” (ETH) in 2014 where they raised more than $18 million, making it the largest token sale ever commenced at the time.

Following the token sale nearly 1 year later, the Ethereum mainnet finally went live on July 30, 2015, and to this day (August 2020) Ethereum is still under heavy development.(Imeet you NEXT)