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Ethereum is an open-source blockchain platform that is decentralized and non-centralized. It was proposed by Vitalik Buterin in 2013. He is a Canadian-Russian programmers who is also a researcher in cryptocurrency. The Ethereum network was officially launched in July 2015 and is now one of the most popular blockchain platforms around the world.
The original concept of Buterin’s Ethereum was to create an Ethereum platform that would allow for the creation and execution of decentralized apps (dApps). Smart contracts, which are selfexecuting contracts with the terms encoded directly in code was the idea of Buterin. This will allow to create decentralized autonomous organizations, which are code-based organizations.
In 2014, Ethereum started a pre-sale to its native cryptocurrency Ether. It can be utilized to fund transactions and computational services and also to fuel the network. The sale raised more than 18 million dollars, and was the beginning of the Ethereum project.
The official launch of the Ethereum network took place in 2015. In 2015, the Genesis block was mined. This marked the beginning of the Ethereum blockchain and the start of the Ethereum network.
The DAO Hack was the first major hacking attack that targeted the Ethereum network. A hacker exploited a vulnerability in the code of the Decentralized Autonomous Organization (DAO), an investment fund that is decentralized and built using the Ethereum platform, and snatched more than 50 million dollars worth of ETH. This led to a hardfork of the Ethereum blockchain and resulted in the creation of Ethereum Classic, (ETC) and Ethereum (ETH).
Since then Ethereum has been evolving and expanding. In the year 2017, Ethereum was subject to an important upgrade, known as the Metropolis hardfork. This involved several improvements to its network, including the introduction of smart contract programming language Solidity as well as the creation of the Ethereum virtual machine (EVM).
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