Vitalik Buterin: The genius behind Etherium

Vitalik Buterin: The genius behind Etherium

This one’s for all you crypto and blockchain enthusiasts out there! Vitalik Buterin needs no introduction for the ones who’re into crypto.But for the ones who aren’t, time to learn something new, amazing and cool about the second most traded cryptocurrency and the man responsible for that.

Right, so, first, what exactly is Cryptocurrency and Blockchain?

Imagine cryptocurrency as digital money that exists only in the online world. It's not controlled by any government or bank; instead, it's powered by a secure technology called blockchain.

The blockchain is like a public digital ledger or record book. Whenever someone makes a transaction using cryptocurrency, like buying something or sending money, it gets recorded on this digital ledger. But here's the trick: this ledger is spread across many computers all over the world. Everyone can see it, and they work together to confirm and validate each transaction.

So, in a nutshell, cryptocurrency is virtual money that uses a special technology called blockchain to make transactions secure and trustworthy without needing a central authority.

It's like money of the future

So, back to Ethereum and Vitalik now.

Vitalik, the founder of ethereum, always had a grand vision for the coin, right from his teen years. In 2013, he started working on the blueprint for it.

See, Vitalik had very different views about blockchain technology, he believed that blockchain could be more than just a currency; it could be a platform for anything you could imagine! Imagine creating smart contracts, decentralised applications, and even your own crypto tokens. Mind Blowing knowing that this was his thought process in his teens!

Naturally, his views attracted a lot of passionate developers, dreamers, and tech knights from all corners of the globe.

Together, they forged the path towards a decentralised future.

The next step, they needed some pushing force to reach new and great heights. That's where the "Initial Coin Offering" spell came into play. (ICO) [ An ICO is when a company sells a new cryptocurrency to raise money. Investors receive cryptocurrency in exchange for their financial contributions. In many ways, an ICO is the cryptocurrency version of an initial public offering (IPO) in the stock market]. People from far and wide threw their support behind this groundbreaking project, and Ethereum's journey skyrocketed.

Along the way, Ethereum faced many challenges from hackers, but rose above all of them to get to where they are today.

As for Vitalik, he is close to attaining billionaire status but he would be happier about the fact that when people talk Crypto, Ethereum is right up there with Bitcoin.