Ethereum: Now Going Public | Ethereum Foundation Blog

I first wrote the first draft of the Ethereum whitepaper on a cold November day in San Francisco. This was the culmination of months of thinking and often frustrating work into what we have come to call “Cryptocurrency 2.0.” Bitcoin blockchain is not just about money. In the months leading up to the development of Ethereum, I had the opportunity to work closely with several projects attempting to implement colored coins, smart properties, and various types of decentralized exchanges. At the time, I was acutely aware of many of the major issues still plaguing the Bitcoin ecosystem, including fraudulent services, unreliable exchanges, and an often appalling lack of security. I was excited about the vast possibilities that technology offers. This is not caused by Bitcoin’s unique decentralized properties. Rather, these problems were a result of the fact that there was still significant centralization in places that could potentially be removed very easily.

But what I quickly realized was that many of these projects face sheer hardship, and often require ugly technical hacks to make them work. And if you look closely at the problem, it becomes clear that the cause is fragmentation. Each individual project attempted to implement its own blockchain or metalayer on top of Bitcoin, resulting in significant duplication of effort and resulting lack of interoperability. Ultimately, the field of computer science realized that the key to solving this problem once and for all was a simple insight that he first developed in 1935. That means you don’t have to build separate infrastructure for each feature or implementation. Rather, it is possible to create a Turing-complete programming language and allow anyone to use it to implement mathematically definable functionality. This is how our computers work, and this is how web browsers work. And with Ethereum, this is how our cryptocurrency works.

Since that moment, Ethereum has come a long way over the past two months. The Ethereum team is comprised of dozens of developers, including Gavin Wood and Jeffrey Wilcke, lead developers of the C++ and Go implementations, respectively, as well as Charles Hoskinson, Anthony Di Iorio, Mihai Alisie, and dozens of other incredible developers. We have expanded to include talented people. Unfortunately there are too many to mention. Many of them have come to understand the project deeply and are better at explaining Ethereum than I am. He currently has over 15 people in the developer chatroom actively working on his C++ and Go implementations, and it already has all the features needed to run on the testnet. This is where I am. Apart from our development efforts, our marketing and community support teams have dozens of people working around the world to provide the non-technical infrastructure necessary to make the Ethereum ecosystem the strong and robust community it is. Developing structure. And now, at this stage, we’ve made a collective decision that we’re ready to make our organization even more public than we’ve ever been before.

What is Ethereum?

In short, Ethereum supports a number of advanced features, including user-issued currencies, smart contracts, decentralized exchanges, and even what is considered the first proper implementation of a decentralized autonomous organization (DAO) or enterprise. (DAC) is a next-generation cryptographic ledger designed to support However, this is not what makes Ethereum special. Rather, what makes Ethereum special is the way it does so. Rather than attempting to specifically support individual types of functionality as features, Ethereum includes a built-in Turing-complete scripting language that allows you to implement functionality through a mechanism known as “contracts.” You can code it yourself. A contract is like an autonomous agent that executes specific code each time a transaction is submitted, and this code can modify the contract’s internal data storage or submit the transaction. Advanced contracts also allow you to modify your own code.

A simple example of a contract is a basic name registration system that allows users to register their name and address. No transactions are sent under this contract. Its sole purpose is to build a database that other nodes can query.Our high level written contract C-like language (CLL) (more precisely a Python-like language) would look like this:

stop if tx.value < block.basefee *[[0]]or[0] < 100: Stop the[[0]]=[1]

And it was done. Five lines of code, executed simultaneously on thousands of nodes around the world, provides the beginnings of a solution to a major problem in cryptography: human-friendly authentication. It is important to point out that when the original version of Ethereum’s scripting code was designed, name registration was not in mind. Rather, the fact that this is possible arose as a new property of Turing completeness. We hope this helps you understand exactly what Ethereum is capable of. For other applications with code, see. white paper. Just a few examples include:

  • User-issued currency/“color coin”
  • decentralized exchange
  • Financial contracts, including leveraged trading and hedging
  • crop insurance
  • Savings wallet with withdrawal limits
  • peer-to-peer gambling
  • Distributed Dropbox-style data storage
  • decentralized autonomous organization

You can probably see why we’re excited.

Who is Ethereum?

Ethereum’s core team includes four members:

Vitalik Buterin Vitalik Buterin first joined the Bitcoin community in March 2011 and co-founded Bitcoin Magazine with Mihai Alisy in September 2011. He enrolled at the University of Waterloo to study computer science in his 2012 and made the decision to leave Waterloo to travel in 2013. He is active throughout the Bitcoin community around the world and works full-time on Bitcoin projects. Vitalik is responsible for many Bitcoin projects including: pibitcoin tools, Fork of BitcoinJSand Multisig information; He is now back in Canada and is focused on developing Ethereum.
mihai alice Mihai Alisy’s first foray into the Bitcoin community was in Bitcoin Magazine in September 2011. From the first issue shipped from his living room in Romania to today, Bitcoin Magazine bears Mihaly’s imprint, growing as he grew up with the magazine. The company, which started as a team of people with no experience in the publishing industry, now distributes physical magazines around the world and in his Barnes & Noble bookstores across the United States. Mihaly is also involved in an innovative online e-commerce startup known as Egora.
Anthony Di Iorio Anthony Di Iorio is canada bitcoin alliancefounder of Toronto Bitcoin Meetup Grouppartner/founder of various Bitcoin startups and initiatives, including in-browser Bitcoin wallets crypto kit, coin talka Toronto-based Bitcoin hub and coworking spacebitcoin decentralized, Bitcoin across Americaand the Global Bitcoin Alliance.
charles hoskinson Charles Hoskinson is an entrepreneur and cryptologist active in ventures in the Bitcoin ecosystem. He founded both the Bitcoin Education Project and his Invictus Innovations before accepting his current role as a core developer of the Ethereum project. He studied at Metropolitan State University of Denver and the University of Colorado Boulder with an emphasis on analytical number theory. Charles is also known for his love of economics, horology and MOOCs, as well as his passion for chess and strategy games.

We also have a great team of developers, entrepreneurs, marketers, and evangelists.

  • Dr Gavin Wood: Core C++ Developer
  • jeff obscura: Core Go Developer
  • Dr. Emanuele Costa: Quantitative Analyst.scrum master
  • joseph rubin: Software Engineering, Quantitative Analyst
  • Eric Lombroso: Software Architect
  • Max Kay: Developer
  • Jonathan Mohan: Media, Marketing, and Evangelism (BitcoinNYC)
  • wendell davis: Strategic Partners and Branding (Hive Wallet)
  • anthony donofrio: Logo, branding, web development (Hive wallet)
  • Taylor Gerring: Web development
  • paul snow: Language development, software development
  • chris odom: Strategic Partner, Developer (Open Transaction)
  • Jerry Liu and Bin Lu: Chinese strategy and translation (
  • Hai Nguyen: accounting
  • Amir Shetrit:Business development (color coin)
  • steve duck: Developer (KryptoKit)
  • Kyle Kurbegovic: Media (Coin Talk)

I’m looking forward to

I will personally be speaking at the Bitcoin Conference in Miami on January 25-26. Shortly after that, the Ether pre-sale begins on February 1st, at which point anyone can get their first pre-allocated portion of Ether (Ethereum’s internal currency) at a rate of 1000-2000 Ether per 1 BTC. You will be able to do it.go to The pre-sale will run from February to March, with higher rewards for early funders. The person who sent money in the first 7 days will receive the full amount of 2000 Ether, then on the 8th day it will be 1980 Ether, on the 9th day it will be 1960 Ether, and so on in the last 3 days he will receive a base of 1000 Ether per BTC. Continues until line rate is maintained. Pre-sale.

With just 500 BTC funding at current rates, you will be able to develop a fully functional and robust Ethereum client. The basic implementation in Go, C++, and Python is already approaching testnet quality. But we’re aiming even further than that. Ethereum is not just an altcoin. This is a new advancement for cryptocurrencies and ultimately peer-to-peer protocols as a whole. To that end, we want to be able to invest significant funds in retaining top talent to improve the security and scalability of the Ethereum network itself, but also hopefully other cryptocurrencies and peer-to-peer-to-peer. We also want to support the robust Ethereum ecosystem that it brings. -Add your project to our crew. We are already well advanced in negotiations with KryptoKit, Humint, and OpenTransactions, and are interested in working with other groups such as Tahoe-LAFS, Bitmessage, and Bitcloud.

All of these projects could potentially benefit from integrating the Ethereum blockchain in some way, as it is so ubiquitous. Due to Turing completeness, Ethereum contracts can be constructed to encourage almost anything, even completely non-financial uses such as public key registration, for example, social networks. All of these projects add significant value to the Ethereum ecosystem, and we expect the Ethereum ecosystem to add significant value to them as well. We do not intend to compete with any organization. we are going to cooperate.

Through our fundraising efforts, we will continue to work diligently on development. We plan to release a centralized testnet soon, a server where anyone can push contracts and transactions, and then follow up with a decentralized testnet to test network functionality and mining algorithms. . We also plan to hold a contest similar to the contests used to determine the algorithms for Advanced Encryption Standard (AES) in 2005 and SHA3 in 2013. The competition invites researchers from universities around the world to compete to develop the best specialized hardware possible. We also consider alternatives such as proof of stake, proof of burn, and proof of excellence. Further details will be announced in February.

Finally, to foster local community development, we intend to create public community hubs and incubators (tentatively called Holons) in several cities around the world. The first Holon will be based within Toronto’s Bitcoin DeCentral, where a significant portion of Ethereum development will take place. If you are seriously interested in becoming an active participant in Ethereum, please consider visiting us within the next month. Other cities we are considering include San Francisco, Amsterdam, Tel Aviv, and several cities in Asia. This part of the project is still in the very early stages of development, with details expected to be announced over the next month.

For now, feel free to check out our resources.


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