The Co-Founder of Ethereum Vitalik Buterin

By Aleksandra Wilson
4 min read December 7, 2021

The programmer Vitalik Buterin who is best known for his Ethereum project has been involved in the crypto industry since 2011. He designed Ethereum to be a platform that works as a worldwide network for DeFi or DApps. Even though that’s his most famous project, Buterin is also famous for writing articles and co-founding Bitcoin magazine. 

In 2013 he traveled around the globe to speak with BTC developers. During his six month trip, he understood that he could build a new, improved version of it. BTC stands as the first crypto in the world, while Ether is a digital currency that is based on the blockchain network of Ethereum.

Vitalik Buterin co-founded the Ethereum project which supports multiple functions. Among those functions is the development of programs and apps with the power of crypto. Also, smart contracts are included in the list, and it’s actually how the platform functions. 

His Childhood

Vitalik was born in January 1994 in Russia, where he lived until the age of six. After that, his parents migrated to Canada in pursuit of a better future for the family. When he was in third grade, he was acknowledged as a gifted child and was placed in a program to develop his skills.

When he was in the program, he discovered his talents that made him stand out. His skills mainly focused on programming and mathematics, although he also had an interest in economics.

Even though he was considered a genius from a very young age, his social skills were not as developed. He went to a private school in Toronto, where he acquired a new perspective on education. While being there, he developed a hunger for knowledge, his education became his main goal at the time.

Vitalik Buterin’s Student Life

In 2011 when he searched for a new direction in his life, he came across Bitcoin. In the beginning, he was a bit skeptical about the value of BTC; he wasn’t able to see how it was possible without any backup. As time passed by, his fascination about the project kept growing; the more he learned, the more he wanted to know. 

Naturally, he wanted to be part of the team in charge of this new economy by getting some tokens. Unfortunately, at the time, he neither had the power to mine them nor the money to buy BTC. Eventually, he started writing articles for about five tokens each. Not only he went into the technological aspect of it but also the economic and political aspects. 

In late 2011, his articles got the attention of another Bitcoin enthusiast; eventually, together, they founded Bitcoin Magazine. He quit university since he was too busy traveling the world and developing various crypto-related projects.

The Lightbulb 

After spending a lot of time searching through different projects, he realized that they were too specific for certain uses. Because the protocols weren’t broad enough, he understood there was an opportunity to create a new one. He realized that it was possible to generalize massively what the protocols did. That was an option by changing the functionality with another language of programming. 

We’re talking about the Turing-complete programming language, which allows a computer to solve any problem, if there is the right algorithm, as well as enough memory and time. When his idea got rejected by people in charge of other already established projects, he made the decision to do it himself.

Ethereum is Born

Vitalik Buterin explained his idea in the white paper, which he sent to a few people. That resulted in over 30 people reaching out to him to talk the concept through. In the beginning, Ethereum was only a digital token. As time passed, the idea around it evolved, and by January 2014, the team in charge made core changes. A few months after this, Buterin presented Ethereum at the BTC conference. 

Later on, the team decided to hold an initial Ether offering. By doing this, the network would be able to fund its development. They raised over 31,000 Bitcoin from the sale of Ether, worth about $100,000 at the time.

After that, they established the Ethereum Foundation based in Switzerland. The foundation’s main task was to oversee Ethereum’s software development. Although they had some turbulence, the campaign was successful. After all, Ethereum’s principles, such as universality, simplicity, and agility make it an appealing option for investors.

Conclusions

Vitalik Buterin is, without a doubt, one of the biggest influencers these days. His ideas have proven to be successful, as they make progress not only in the tech field but in the economic one too. For sure, this won’t be the last time we hear about this tech genius and his innovations.

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