Related Articles

Who Created Ethereum?

BitForex Editor
Oct 20, 2020

The name Ethereum is not strange to hear, especially to those familiar with cryptocurrencies, as it is the second-largest cryptocurrency platform by marketing capitalization after Bitcoin. In the year 2008, Bitcoin was created as a new way or approach to online payment, privacy, and security, and three years after that, the Ethereum platform was created with a goal that was aimed at changing the perception of the worldwide web.

The question that is, however, vital at this point is who created Ethereum? Unlike Satoshi Nakamoto, the creator of Bitcoin, whose mysterious persona has long been discussed among people, the inventor Ethereum is not hiding in the shadows neither did he hide his identity from the general public as he is no other than Vitalik Buterin. A programming whiz kid who had a great interest in everything relating to Bitcoin and crypto. Vitalik Buterin was also the co-owner of the Bitcoin magazine website, and his dream was to create a blockchain platform that will surpass the financial focus of blockchain.

While working on various Bitcoin projects, Buterin got the idea for Ethereum. Ethereum was created to be a platform that allowed developers to build blockchain applications. Vitalik Buterin believed that the Bitcoin blockchain was rather limited, and in 2013 the Ethereum white paper was released. Ethereum was officially announced in 2014 on the Bitcointalk forum. Etherum was not just Buterin’s work alone as it was co-founded by Mihai Alisie, Dr. Gavin wood Charles Hoskinson and Di Iorio.

In July 2014, an ether crowd sale took place courtesy of the Ethereum Foundation, where 60 million tokens were sold. In other, for the Ethereum foundation to expand its marketing effort and development, 12 million ether tokens were created. Over the years, the Ethereum network has grown to be one of the most successful cryptocurrency platforms, plus they have been able to build a partnership with other notable companies

Who Is Vitalik Buterin?

A Russian Canadian writer, Vitalik Buterin, born on January 31, 1994, is prominently known for the role he played in the co-founding of Bitcoin Magazine as well as the second-largest cryptocurrency platform in the world; Ethereum. Vitalik excelled academically at a very tender age and was regarded as gifted. At higher education, he succeeded exceedingly well in the economy and mathematical programming, which is a reasonable basis for succeeding in the cryptocurrency world.

Vitalik’s Involvement with Bitcoin

Vitalik was introduced to the wonders of Bitcoin in 2011, and that same year, he was approached to become a writer for Bitcoin Magazine, which was one of the first news websites for everything Bitcoin. Vitalik accepted the offer, and until 2014, he wrote various articles for the news platform. It was as a result of this that Vitalik thought of multiple possibilities and significantly believed that there could be more cryptocurrencies besides Bitcoin. He was also of the opinion that Bitcoin had some limitations even though it was an excellent platform for peer to peer transactions.

Vitalik Buterin proposed that blockchain technology could do more than what it was intended for, like running decentralized applications. From that period, Vitalik a new cryptocurrency network for the world of blockchain.

Ethereum to the world

Towards the end of 2013, Vitalik began writing the white paper, which was intended for the Ethereum platform, which was regarded as remarkable for someone who, at that period, was still a teenager. The project managed to get the attention of people, and it didn’t take long before a development team picked the project up; and as earlier stated, the first phase of the Ethereum development team mainly involved Vitalik Bbuterin, Mihai Alisie, amongst other developers.

The Etherum project was unveiled to the general public for the first time by Vitalik Buterin in January 2014 during a Bitcoin meeting in Miami, where he told the audience about his new invention and few months after that, the Ethereum crowd sale took off. The first version of the Ethereum network was launched in July 2015 by Vitalik and his team, but one factor that made it stand out was that developers could probe it with decentralized applications. From that point on, Ether grew to become one of the largest cryptocurrencies, and the platform is also used to create new decentralized applications, which has made an impact in the crypto world.

Vitalik’s Ongoing Projects

The success of the Ethereum platform made way for the Etherum Alliance, which was established in March 2017, which in turn attributed to the growth of Etherum. Vitalik’s recent projects involve making efforts towards daily improvement of the platform, which he does with help from his team of developers. He also continues to drop his opinion of various issues pertaining to the crypto world, Bitcoin and Ethereum. He strongly believes in the potential of his project and seeks new ways to make it better and more user-friendly for the general public.

What Is Vitalik Buterin’S Net Worth?

Over the years, the brain behind the Ethereum network, Vitalik Buterin, has amassed a significant amount of wealth, most of which are in Ether amongst other cryptocurrencies. However, it is believed at one time that Vitalik Buterin’s net worth was around 100 million dollars and that as of 2018, it was a total of 200 million dollars; of course, this is just an estimate as at over the years, it would have significantly grown beyond that, based on the success of the Ethereum platform.  

Some key points you need to, however, understand is that Buterin’s cryptocurrency holdings represent a substantial aspect of his wealth, plus he has an estimated 12 million dollars in cash holdings, including a salary between the ranges of 140,000 dollars to 250,000 dollars amongst other multi-million-dollar investments. It is no news that in the cryptocurrency world, Vitalik Buterin is a prominent and influential figure. Vitalik wasn’t wealthy before he created Ethereum. The main source of Vitalik’s wealth is closely attributed to a large amount of Ethereum tokens from the cryptocurrency’s pre-mine, which he was able to hold on to which in turn gave over 12 million ETH to the foundation as well as its founders, which represents an estimated 11% of the supply in circulation. Although Buterin hasn’t declared his financial position, however, a decent estimate can be derived from his public statements, wallet, and addresses.

About BitForex:

BitForex is an exchange service platform that can be classified as one of the Top 10 cryptocurrency exchange services. It is focused on providing millions of users with a digital currency trading and investment tool that is not only safe but also professional and convenient. BitForex has a high customer-oriented culture and state-of-the-art financial technology.

BitForex is programmed in a way that it can quickly adapt to the changes of the Crypto market while introducing new features like margin trading, enhanced trading charts,  derivatives, and a host of others. The headquarter of BitForex is located in Hong Kong, while there are branch offices in countries like the United States, South Korea, and Singapore.

More details:

BitForex / Social Trading / CAPP TownEazySwap

Scan to download for iOS or Android