Ethereum is an open source public blockchain platform with intelligent contract function, through its dedicated cryptocurrency Ether ("Eth") , it provides a decentralized Ethereum Virtual Machine to process peer-to-peer contracts.
The Ethereum concept was first proposed in 2013-14 by programmer Vitalik Buterin, who was inspired by Bitcoin. It translates to"The next generation of cryptocurrencies and decentralized application platforms."
Vitalik Buterin
Birth: 1994
Current position: Founder and chief scientist, blockchain platform ether place
Education: Canadian University of Waterloo
Winners: Olympic bronze medal for Information, Till Scholarship, 2014 World Science and Technology Award
Born in Russia, his parents divorced when he was five years old, and Butyrin moved with his father from Moscow to Toronto, Canada.
Bitcoin is the originator of the blockchain, but it has many problems.The extensibility of the protocol is a deficiency,Processing transactions on the chain is inefficient, and so on.
The Ethereum protocol will be as simple as possible, even at the cost of some data storage and time inefficiencies. An ordinary programmer is perfectly capable of implementing a full development specification. This will ultimately help to reduce the potential impact of any particular individual or elite group on the agreement and advance the prospects for the use of ether as an open agreement for all. Optimizations that add complexity will not be accepted unless they provide very fundamental benefits.
The absence of“Character” is a fundamental part of Ether's design philosophy. Instead, Ethereum provides an internal turing-complete scripting language for users to build any type of smart contract or transaction that can be precisely defined. To build a full-scale Daemon or Skynet, you might need thonds of interlocking contracts and be sure to feed them generously. Anything is possible.
Different parts of Ethereum should be designed to be as modular and separable as possible. During development, it should be easy to make one small change to the protocol while the application layer continues to function without any changes. Ethereum development should do these things to the best of its ability to benefit the entire cryptocurrency ecosystem, not just itself.
The agreement should not actively seek to limit or hinder specific categories or uses, and all regulatory mechanisms in the agreement should be designed to directly regulate harm and should not attempt to oppose specific undesirable applications. One could even run an infinite loop script on top of Ethereum if one was willing to pay the transaction costs of the steps.