What Is Ethereum
Ethereum is a decentralized, open-source blockchain network that anyone can build on or use, but that no single company or person controls. Rather than acting purely as digital cash, Ethereum is best understood as a shared global computer, one that runs “smart contracts,” pieces of code that execute automatically once their conditions are met, without a bank, court, or middleman needing to step in.
The network's native currency is Ether (ETH), which fuels every transaction and smart contract execution on Ethereum. Beyond its use as a payment method, ETH is also widely held as an investment asset in its own right, much like gold or company shares.
Who created Ethereum
Ethereum was conceived by Vitalik Buterin, a Russian-Canadian programmer who first outlined the idea in a whitepaper in late 2013, when he was just 19. Buterin had already made a name for himself in the crypto world through Bitcoin Magazine, which he co-founded a year earlier. He was joined by several co-founders, including Gavin Wood who wrote much of Ethereum's technical specification and helped create its Solidity programming language and Joseph Lubin, who later helped establish the non-profit Ethereum Foundation.
The project was funded through a public token sale in 2014 that raised the equivalent of roughly $18 million, one of the first crowdfunding campaigns of its kind in crypto. After a period of testing, the Ethereum network officially went live on July 30, 2015, with the mining of its first block. Unlike Bitcoin's pseudonymous creator, Buterin has remained a highly visible, public figure in the space ever since, and continues to work on Ethereum's development through the Ethereum Foundation.
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