{"id":562,"date":"2022-11-20T10:50:04","date_gmt":"2022-11-20T10:50:04","guid":{"rendered":"http:\/\/78.47.81.216\/?p=562"},"modified":"2022-12-19T09:32:33","modified_gmt":"2022-12-19T09:32:33","slug":"case-study-how-vitalik-buterin-changed-the-perception-of-crypto","status":"publish","type":"post","link":"https:\/\/blog.ag.qubiq.cc\/?p=562","title":{"rendered":"Case study: How Vitalik Buterin changed the perception of crypto?"},"content":{"rendered":"\n
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The mastermind behind Ethereum, Vitalik Buterin invented the world\u2019s hottest cryptocurrency and inspired a decentralization movement before he even turned 20. Let\u2019s learn the story of just a smart guy who boosted the whole industry, and keeps moving it to the future.<\/p>\n\n\n\n

Who is who<\/strong><\/p>\n\n\n\n

Vitalik Buterin (born 1994) is a programmer who designed Ethereum and was one of its co-founders. Born in Russia, he moved with his family to Canada when he was 6, and visited a school for gifted children, studying math, programming, and economics.<\/p>\n\n\n\n

His father was a computer scientist, from whom Vitalik learned about Bitcoin at the age of 17. So, Buterin became involved with cryptocurrency early in its inception, also co-founding Bitcoin Magazine in 2011. Interestingly, there he got his first crypto payments for his articles.<\/p>\n\n\n\n

Ethereum origins<\/strong><\/p>\n\n\n\n

Inspired by Bitcoin, Vilatik started to gather the team of developers who shared his enthusiasm for code. He published a white paper proposing Ethereum in 2014, and graduated from the university in the same year, receiving a grant worth $100,000.<\/p>\n\n\n\n

Buterin set up Ethereum with Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin, and went to work on his project full-time. The official launch took place in January 2014, at the North American Bitcoin Conference in Miami.<\/p>\n\n\n\n

Ideas behind Ethereum<\/strong><\/p>\n\n\n\n

Since teenage years, Buterin was developing his views on the dangers of centralization as well as the benefits of individual sovereignty and decentralization. He decided that he needed to create a separate platform from Bitcoin, with far larger possibilities.<\/p>\n\n\n\n

While Bitcoin is centered around the concept of decentralized money, Ethereum offers developers to build all kinds of dApps just on the network: from meme cat collectibles and blockchain games, to digital ID and tokenized asset platforms.<\/p>\n\n\n\n

Buterin also elaborated other innovative use cases, such as decentralized exchanges (DEXs) and decentralized autonomous organizations (DAOs).<\/p>\n\n\n\n

Changing the world<\/strong><\/p>\n\n\n\n

It\u2019s no question that Vitalik Buterin is one of the most influential people in the crypto industry, and his Ethereum is a highly important project to date.<\/p>\n\n\n\n

Besides the development of core Ethereum\u2019s blockchain (ETH 2.0 upgrade, sharding, layer-two scalability solutions, etc.), Vitalik has worked on multiple technological initiatives, concepts, and innovations in the Ethereum ecosystem and the broader crypto industry.<\/p>\n\n\n\n

For example, first NFTs were minted on Ethereum, as well as several hundreds of tokens have been launched using its mainnet. Most dApps, web3 networks and metaverses are also Ethereum-based. Along with this, ETH is steadily remaining the world\u2019s second cryptocurrency by market capitalization, and it\u2019s more flexible and rapid than BTC, which makes it even more popular.<\/p>\n\n\n\n

Making investors invest<\/strong><\/p>\n\n\n\n

Ethereum kickstarted the development of dApps, represented by multiple blockchain games, DeFi solutions, crypto & NFT marketplaces, etc, working on a stable and safe network. Projects from the crypto industry finally got investors\u2019 trust and are now receiving billions of dollars.<\/p>\n\n\n\n

Some may remember it was Ethereum that fueled the ICO craze in 2017, as well as the DeFi boom in 2020, and the rapid adoption of NFTs last year.<\/p>\n\n\n\n

At the same time, ETH, the original cryptocurrency itself, has consistently managed to maintain its second-highest rank by market cap among all coins throughout its history.<\/p>\n","protected":false},"excerpt":{"rendered":"

The mastermind behind Ethereum, Vitalik Buterin invented the world\u2019s hottest cryptocurrency and inspired a decentralization movement before he even turned 20. Let\u2019s learn the story of just a smart guy who boosted the whole industry, and keeps moving it to the future. Who is who Vitalik Buterin (born 1994) is a programmer who designed Ethereum […]<\/p>\n","protected":false},"author":7,"featured_media":563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[64,56,38,68],"authors":[37],"class_list":["post-562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-case-study","tag-cryptocurrency","tag-education","tag-ethereum","authors-alphaguilty"],"acf":{"reading_time":3},"author-name":"AG Content Manager","suggested-articles":[{"ID":714,"post_author":"7","post_date":"2022-12-21 15:57:48","post_date_gmt":"2022-12-21 15:57:48","post_content":"\n

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The world of digital art is changing rapidly. Remember when people admired Mona Lisa or Black Square? Now they have been replaced by cartoon pictures of cats, robots, and aliens. Do you know what we're talking about? NFTs, of course.<\/p>\n\n\n\n

NFTs became popular last year, but the first steps towards their creation were taken back in 2011. One of the first NFT projects can be considered ASCII Len \/ ASCII Bernanke. Not many people know about it, so mentions can be found on specialized crypto sites. Let's understand what non-fungible token means for digital artists and others. If you want to learn even more about NFTs - check out this ultimate guide<\/a> to them by our CEO, Mykhailo Sitalo!<\/p>\n\n\n\n

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What is the technology behind NFT artworks?<\/h2>\n\n\n\n

Let's start with the basic concepts. NFTs, or non-fungible tokens, are digital data stored on a blockchain. Not too clear, is it? To simplify, a non-fungible token is one whose monetary equivalent does not equal its value. A simple example would be the book Lord of the Rings, which has a price of $50. The same book, but autographed by Tolkien, would cost $300. The same principle applies to this type of digital art, which has become popular. We can conclude that this is the difference between NFTs and cryptocurrencies with fiat money. The second and third are interchangeable, but such tokens are not.<\/p>\n\n\n\n

As we said, NFTs are stored on a blockchain. Everyone who is even slightly connected with the crypto sphere knows about blockchain. It can be defined as a decentralized digital ledger that tracks transactions. It is on the blockchain used to support cryptocurrencies like Ethereum. <\/p>\n\n\n\n

The controversy surrounding the NFT marketplace is still going on. Technically, NFTs are just a unit of data in a blockchain. Many skeptics believe that paying huge sums of money for digital art that cannot even be touched is great folly. Fans, on the other hand, are convinced that NFT art is the engine of progress. After all, it's something completely new. It's up to you to decide who is right. One thing we can say for sure: NFTs are tokens that are more and more talked about all over the world.<\/p>\n\n\n\n

What do NFTs mean for creators?<\/h2>\n\n\n\n

When we talk about physical art, everything is clear. An artist can paint a picture, sell it, or transfer the copyright. When it comes to digital art, in particular blockchain data, things are a bit more complicated. Let's break down what value such tokens have for their creators.<\/p>\n\n\n\n