Ethereum was born on July 30, 2015, conceived by Vitalik Buterin to overcome the limitations of Bitcoin. Its characteristics include decentralization, programmability and scalability, introducing the concept of smart contracts, greatly expanding the application scope of blockchain, and promoting the birth of decentralized finance (DeFi), the rise and innovation of NFT Application development.
The birth of Ethereum
Ethereum was officially launched on July 30, 2015 The launch marks the arrival of the era of decentralized finance (DeFi).
The reason for its birth
Ethereum was conceived by Vitalik Buterin in 2013 to overcome the limitations of Bitcoin. Bitcoin is designed to handle financial transactions, while Ethereum aims to create a programmable blockchain that allows developers to build more complex applications.
Technological Innovation
Ethereum introduces the concept of smart contracts, which are computer programs stored on the blockchain that can automatically implement. The introduction of smart contracts enables developers to create decentralized applications (dApps) covering a wide range of use cases, including finance, supply chain management and social media.
Key Features
- Decentralization: Ethereum is a decentralized network run by nodes around the world. Ensure data is secure and not controlled by any single entity.
- Programmable: Smart contracts allow developers to create complex applications that can automate tasks and protect data from tampering.
- Scalability: Ethereum is constantly being upgraded to improve its scalability and handle more transactions.
Impact on the cryptocurrency field
The launch of Ethereum has had a profound impact on the cryptocurrency field:
- The birth of DeFi: It promotes the development of decentralized finance, allowing users to borrow, trade and earn interest without relying on traditional financial institutions.
- The Rise of NFTs: It provides the basis for non-fungible tokens (NFTs), enabling unique ownership and scarcity of digital assets.
- Innovative Applications: Ethereum provides developers with a platform to build a variety of innovative applications, including decentralized autonomous organizations (DAOs) and distributed applications (dApps).
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