What is Ethereum and who is Vitalik Buterin?

What is Ethereum and who is Vitalik Buterin?

Beginnings of the Ethereum Universe

Launched on 30th July 2015, Ethereum is a cryptocurrency based on the blockchain.

Founded by Vitalik Buterin and Joseph Lubin, it is sometimes considered a second version of Bitcoin.

Though Bitcoin and Ethereum are both decentralised currencies based blockchain, there are significant differences between the two.

What’s the difference?

A good way to understand the differences between the two is to recognise that each have their own goals and purpose. While Bitcoin was and still intends to be a digital currency based on the blockchain, Ethereum has sought to create an entire network within itself.

In fact, each Ether can be designed to represent a range of different things. It can represent currency, an asset, a digital share or even proof of membership in digital organisations.

According to the website, any user can build

  • A tradable token with a fixed supply
  • A central bank that can issue money
  • A puzzle-based cryptocurrency

Additionally, this currency offers the opportunity to build entire organisations, associations and even countries if an individual desired. Yes, you read correctly. Countries.


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Source: What is Ethereum and Who is Vitalik Buterin? – Bitcoin Australia