Founded: July 2014
Founders: Vitalik Buterin and Gavin Wood
Customers/Partners: rapidly growing ecosystem
Ethereum is a Blockchain 2.0 platform that permits smart contracts and distributed application to be created and executed without any possibility of downtime, censorship, fraud or third party interference. Ethereum utitlizes a Turing complete programming language and a decentralized virtual machine that executes peer-to-peer contracts with a digital asset called Ether. While Ether is initially mined by proof-of-work protocol, Ethereum will move to a proof-of-stake system called Casper.
Originally authored by Vitalik Buterin and Gavin Wood in 2013, the initial crowdsale of Ether tokens brought in more than 31,000 bitcoins, approximately US$18.5 million at the time. After the Ethereum blockchain went live in July 2015, there has been an explosion of interest in Ethereum as a platform for decentralized applications and smart contracts.
The Ethereum project is driven by a Canadian non-profit foundation, the Ethereum Foundation, and a Swiss company, Ethereum Switzerland GmbH.
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