Launched in 2015, Ethereum became the second-largest cryptocurrency after Bitcoin, introducing smart contracts and decentralized applications (dApps) to the world.
The Origins of Ethereum
Ethereum was created by Vitalik Buterin, who published the platform's whitepaper in 2013. In 2014, the project raised approximately $18 million in a crowdfunding campaign and officially launched on July 30, 2015. Co-founders include Charles Hoskinson, Gavin Wood, and Joseph Lubin.
How Ethereum Works
Ethereum is a decentralized, open-source platform. Unlike Bitcoin, which primarily serves as digital currency, Ethereum acts as a global distributed computing platform using smart contracts and the Ethereum Virtual Machine (EVM).
Impact and Applications of Ethereum
Ethereum has become the foundation for numerous blockchain innovations like decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), decentralized autonomous organizations (DAO), and layer-2 scaling solutions.
Ethereum remains a leading blockchain platform due to its smart contract functionality, security, and community support. The transition to Proof-of-Stake and continued development will ensure the platform's future.
