Vitalik Buterin, the founder of Ethereum, who broke his long silence with his tweet recently, is on the agenda with his latest statements. Buterin supported altcoins in the face of the US attitude towards crypto and said that projects hit by stock market lawsuits do not deserve this. Buterin’s total wealth is estimated to be around 400 million dollars, and Buterin is not even 30 years old. At the age of 27, Vitalik Buderin made history as the youngest cryptocurrency billionaire in the world.
Vitalik Buterin, who was born on January 31, 1994 in Kolomna, Moscow, Russia, entered Forbes’ 30 Under 30 People Finance list in 2018 and Forbes’ 30 Under 30 Hall of Fame list in 2022.
Russian-Canadian Vitalik Buterin joined the Bitcoin world in 2011. A writer and programmer, Buterin is among the founders and writers of Bitcoin Magazine. Buterin is originally known as one of the names behind Ethereum. Ethereum is a blockchain platform for decentralized financial applications. As of April, its market cap is over $155 billion. This makes Ethereum the largest altcoin. Beyond its dominant market position, Ethereum is said to have shown the world that crypto can be more than just a medium of exchange. The company is interpreted as a completely new example with its innovations in the field of programming.
BUTERIN STARTS THE WORLD OF BITCOIN ON THE 17TH
Buterin traveled the world for 6 years in 2013, meeting with Bitcoin developers. As a result of their discussions, he got the idea that by iterating the Bitcioin blockchain, he could possibly build a more advanced version of it. Bitcoin is the first cryptocurrency in the world, while Ether (ETH) is a digital currency based on the Ethereum blockchain network.
Ethereum is a blockchain that supports various functions, including applications and programs developed by the power of cryptocurrencies such as ETH. Smart contracts, which are basically programs that can be registered and run on the Ethereum platform, are a result of how the platform achieves this.
BUTERIN’S CHILDHOOD
His family immigrated to Canada when Buterin was 6 years old. He started the gifted program when he was in the third grade. Buterin, who has a natural talent for mathematics and programming, had a keen interest in economics from an early age.
Ethereum is a decentralized blockchain that underpins many cryptocurrencies. Photograph: Wikimedia Common
While playing Word of Warcraft in high school, Buterin says he cried all night when the game’s developer Blizzard changed the abilities of one of Buterin’s favorite characters, and after this incident he realized how ‘terrible’ central services can be. Buterin states that he stopped playing World of Warcraft after this experience at the age of 16.
Buterin says he was introduced to Bitcoin in 2011 and was very skeptical of it at first. Noting how he could gain so much value despite not having a physical background, Buterin states that he was very impressed as he read about Bitcoin and wanted to be included in this world. But there were obstacles in front of a young student of that age as well; Buterin had neither a powerful computer suitable for Bitcoin mining nor the money to buy Bitcoins. On top of that, Buterin started writing articles on Bitcoin forums and earning 5 BTC per post. Expressing that he researched the economic, technological and political aspects of crypto money during this time, Buterin founded the magazine called Bitcoin Magazine with Alisie towards the end of 2011, when his articles attracted the attention of Romanian Bitcoin entrepreneur Mihai Alisie.
Emphasizing that he traveled the world examining various crypto projects, Buterin states that he eventually determined that they were too focused on specific uses and were not broad enough. However, Buterin points out that a successful and sustainable blockchain must have broader and versatile application potential beyond a single use case or limited functionality.
Buterin notes that after looking at the protocols these projects used, he realized that it was possible to broadly generalize what the protocols do by replacing all of their functionality with the Turing-complete programming language. Buterin, who decided to do it himself after being rejected by several projects, thus founded Ethereum. The Turing programming language was cited as one of the biggest differences between Ethereum and Bitcoin.
Sources: Forbes, Cointelegraph
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