When was Ethereum founded?

In 2013, Vitalik Buterin, Gavin Wood, Joseph Lubin, and Anthony Di Iorio collaborated to establish Ethereum, a groundbreaking blockchain platform designed for decentralized applications (dApps).

Feb 16, 2025 at 07:31 am

Key Points:

• Ethereum's Inception and Founding Date
• The Pioneers Behind Ethereum's Creation
• Ethereum's Early Development and Technical Foundation
• The Ethereum Whitepaper and Its Significance
• Ethereum's Initial Coin Offering (ICO) and Funding Mechanisms
• The Evolution of Ethereum: From Frontier to Homestead
• Ethereum as a Platform for Decentralized Applications (dApps)

When was Ethereum founded?

Ethereum's journey began in 2013, when Vitalik Buterin, a young Russian-Canadian programmer, released a whitepaper outlining a vision for a decentralized platform that would revolutionize the way we interact with blockchain technology.

The Pioneers Behind Ethereum's Creation:

• Vitalik Buterin: The primary architect and driving force behind Ethereum's development.
• Gavin Wood: A prominent figure in the early Ethereum community and the creator of Solidity, Ethereum's programming language.
• Joseph Lubin: Co-founder of ConsenSys, a leading blockchain software company that played a significant role in Ethereum's development.
• Anthony Di Iorio: Co-founder of Ethereum who contributed to the early development of the platform.

Ethereum's Early Development and Technical Foundation:

• Ethereum is built on a novel blockchain architecture that utilizes a consensus mechanism known as Proof-of-Work (PoW), which ensures the network's security and integrity.
• Ethereum's core feature is its support for smart contracts, self-executing programs stored on the blockchain that automatically execute when certain conditions are met.
• Ethereum's native cryptocurrency, Ether (ETH), serves as a medium of exchange for transactions on the network and as a unit of value for gas fees.

The Ethereum Whitepaper and Its Significance:

• The Ethereum whitepaper, published in 2014, provided a comprehensive blueprint for the platform's vision, architecture, and potential applications.
• The whitepaper outlined Ethereum's goal to create a decentralized, global computing platform for dApps, smart contracts, and other decentralized services.

Ethereum's Initial Coin Offering (ICO) and Funding Mechanisms:

• In 2014, Ethereum launched its ICO, raising around 31,591 BTC ($18.4 million at the time) from over 7,000 contributors.
• The ICO was a pivotal moment in Ethereum's history, providing the necessary funding to develop and launch the platform.

The Evolution of Ethereum: From Frontier to Homestead:

• Ethereum's development has progressed through several phases, including Frontier, Homestead, and Metropolis.
• The Frontier phase marked the initial launch of the Ethereum network, while Homestead introduced significant stability and performance improvements.

Ethereum as a Platform for Decentralized Applications (dApps):

• Ethereum has emerged as a leading platform for dApps, enabling developers to create a wide range of decentralized applications across various industries.
• dApps built on Ethereum leverage smart contracts to enhance transparency, security, and autonomy.

FAQs:

• Who is the founder of Ethereum?
  Answer: Vitalik Buterin
• What is Ethereum's primary use case?
  Answer: Platform for decentralized applications (dApps) and smart contracts
• What is the native cryptocurrency of Ethereum?
  Answer: Ether (ETH)
• When was Ethereum's whitepaper published?
  Answer: 2014
• What was the purpose of Ethereum's Initial Coin Offering (ICO)?
  Answer: To raise funding for the platform's development and launch