Vitalik Buterin is the co-founder of the Ethereum blockchain-platform. For this idea, he won the World Technology Award in 2014 and bypassed Mark Zuckerberg. Its goal is to improve the Internet from the control of centralized forces acting in their own interests. Vitalik Buterin holds a position in the first peer-reviewed scientific journal Ledger, dedicated to cryptocurrencies, and before that he was the editor-in-chief and co-founder of a major publication Bitcoin Magazine.
What is the idea of Vitalik Buterin?
Smart contracts are also present in Bitcoin, but the creator of this cryptocurrency has specifically limited their capabilities, using a simple Script programming language, which suffices only to solve the most primitive tasks. This was done so that users do not abuse the resources of the network and do not my billions of bitcoins. But by limiting users, the creator of Bitcoin automatically limited developers: they became tight within the existing functionality.
Expanding the capabilities on the old platform is quite laborious, so Buterin decided to develop a fundamentally new approach. He suggested restricting users with the help of “fuel” – or “ether”. This is the cryptocurrency of the Ethereum network, only it is positioned not as an alternative to fiat money, but as a way of accounting for the use of resources. The more complex the teams that you want to fulfill, the more “ethers” you will have to pay. This limits unscrupulous users.
How was the idea born?
Vitalik Buterin was born in 1993 in Kolomna. His parents moved to Toronto in 1999, shortly before his sixth birthday. By that time, he had already started using the computer: the favorite game of the four-year-old boy was an Excel spreadsheet. His father, programmer Dmitry Buterin, remembers how his son wrote a complex document called “Encyclopedia of Rabbits” at the age of seven.
“He invented a universe inhabited by rabbits, which was governed by very strict formulas,” says Dmitry. “Everything was filled with mathematics, graphs, and calculations.”
In 2011, Vitalik Buterin became interested in bitcoins. At first he was skeptical but eventually became more and more involved. He started writing for a blog called Bitcoin Weekly for $ 1.5 an hour and soon founded his own Bitcoin Magazine. In high school, he took third place in the competition for robotics, where self-made robots had to fight with each other. As he said, his strategy was: “I gave each agent a utility function and allowed them to act independently to maximize their own goals.” This became the principle of his life.
Vitalik entered the University of Waterloo in 2012, but in the first year of training, he realized that the blockchain projects take up most of his time. The young man told his father that he wanted to leave the university to travel the world and learn about bitcoin as much as possible. Dmitry gave good – and in 2013, Buterin went to Israel, then to Amsterdam and San Francisco. Participating in various projects related to the blockchain, he realized that developers are too focused on specific applications, while the industry lacks a more general, global project. So was born Ethereum.
Assistance in the development
His colleagues in the magazine and blockchain projects. Already in November 2013, Vitalik Buterin prepared the Ethereum project and in a few weeks, he got a team. It consisted of one of the founders of Bitcoin Magazine Mihai Alisi, an entrepreneur Anthony di Iorio, who sold real estate to buy bitcoins, Amir Citrith, with whom Buterin worked in Israel on the project ColoredCoins, and Charles Hoskinson, the American mathematician who initiated the introduction of cryptocurrency in the mainstream.
The main part of the code was helped by the writing of the British programmer Gavin Wood. He prepared a so-called “technical bible”, which describes the specification of the virtual machine Ethereum (EVM), which executes clever contracts and monitors the state of wallets. Co-founder Joseph Lubin continued work on the ConsenSys-based Brooklyn-based company, which focuses on creating decentralized applications. In July 2014, Buterin and other founders launched the ICO, where the participants purchased the airwaves that serve as the company’s shares. They earned more than $ 18 million. These funds are managed by the Ethereum Foundation, a non-profit organization based in Switzerland. Ethereum accumulated a bunch of debts to lawyers but stood firm.
From the very beginning, the creators of Ethereum quarreled and nearly ruined the project. Many of them did not want the network to be commercialized. Part of the participants who insisted on the commercialization of the project broke away. And yet, despite the conflicts and difficulties, on July 30, 2015, the network was launched.
In his teens, Vitalik played World of Warcraft from 2007-2010, but he was outraged by the innovations of the developers.
“Once Blizzard removed a damage component from the Siphon Life spell of my favorite character. That day, I realized what horrible things centralized services can create, “Vitalik wrote on his website.
A young man does not smoke and prefers alcoholic beverages to green tea. He calls his religion cryptography, and he describes political convictions with the English slang word “cuckservative”, which means that a person is not conservative enough for a conservative. He is interested in politics and rationalistic philosophy.
Now the programmer lives in Singapore.
A few months ago, Vladimir Putin met with Vitalik Buterin, the founder of one of the world’s largest blockchain platforms Ethereum, in the fields of the St. Petersburg International Economic Forum.
– Buterin spoke about the possibilities of using the technologies developed by him in Russia. The president supported the idea of establishing business contacts with potential Russian partners, the Kremlin press service said.