History Founding (2013–2014)Įthereum co-founder Vitalik Buterin in 2015Įthereum was initially described in late 2013 in a white paper by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, that described a way to build decentralized applications.

This has cut Ethereum's energy usage by 99%. On 15 September 2022, Ethereum transitioned its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS) in an upgrade process known as 'the Merge'. Additionally, many other cryptocurrencies utilize the ERC-20 token standard on top of the Ethereum blockchain and have utilized the platform for initial coin offerings. Ethereum also allows users to create and exchange non-fungible tokens (NFTs), which are tokens that can be tied to unique digital assets, such as images. This facilitates borrowing against cryptocurrency holdings or lending them out for interest. Decentralized finance (DeFi) applications provide financial instruments which do not directly rely on financial intermediaries like brokerages, exchanges, or banks. Ethereum allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact.

In 2014, development work began and was crowdfunded, and the network went live on 30 July 2015. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin. It is open-source software.Įthereum was conceived in 2013 by programmer Vitalik Buterin. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. Ether ( Abbreviation: ETH sign: Ξ) is the native cryptocurrency of the platform. Go, Rust, C#, C++, Java, Python, Nim, TypeScriptĮthereum is a decentralized blockchain with smart contract functionality. Paris-Bellatrix / 15 September 2022 8 months ago ( ) Ethereum Foundation, Hyperledger, Nethermind, OpenEthereum, EthereumJS, ConsenSys, Prysmatic Labs, Sigma Prime, Status, ChainSafe, Ledgerwatch, Torquem

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