Emergence of Ethereum and smart contracts from "summary" of Digital Gold by Nathaniel Popper
The Ethereum blockchain was conceived as an expansion of the Bitcoin blockchain, adding a new layer of functionality that would allow for more complex interactions between users. Vitalik Buterin, a young programmer from Canada, was the visionary behind this ambitious project. He saw the potential for a blockchain that could support not only a digital currency, but also a wide range of decentralized applications. Buterin's key innovation was the introduction of smart contracts, self-executing agreements that would be stored on the blockchain and automatically enforced by the network. These smart contracts would enable a whole new world of possibilities, from decentralized financial instruments to automated governance systems. The Ethereum project quickly gained momentum, attracting a community of developers and entrepreneurs eager to explore the potential of this new platform. In 2014, Buterin and his team launched a crowdfunding campaign to finance the development of Ethereum. The response was overwhelming, with thousands of individuals and organizations contributing millions of dollars to ...
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