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Ethereum is a Vitalik Buterin blockchain platform created by a programmer with Russian roots. Ethereum allows you to create decentralized organizations on the basis of your blockchain. One of them is the Decentralized Autonomous Organization (DAO). It is an analogue of a venture capital fund and attracts startups in the field of digital currencies.
Ethereum supports so-called smart contracts, which are special programs that describe the terms and outcome of a deal. The transactions themselves and the verification of the fulfillment of their conditions take place without human participation.
The Ethereum network was launched on July 30, 2015.
Enterprise Ethereum Alliance (EEA) is a non-profit consortium whose members are looking for opportunities to use blockchain technology on the Ethereum platform in real business.
Cryptocurrency Ether
Main article: Ether, Ethereum cryptocurrency
The monetary unit of Ethereum is ether.
.ETH Domain Zone
Main article: Ethereum Name Service (.ETH)
2023: Ethereum in the United States recognized as both a security and a commodity
Ethereum falls under the sphere of influence of the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) at the same time - this was announced in May 2023 by representatives of regulators themselves.
According to representatives of the SEC and CFTC, in the eyes of American regulators, Ethereum can be both a security and a commodity.
2018
Austria issues government bonds worth 1.15 billion euros using Ethereum
In late September 2018, Austria announced a decision to use blockchain to issue €1.15 billion worth of government bonds. They will be distributed in early October as part of an auction, which will be held by one of the largest Austrian banks Oesterreichische Kontrollbank.
The bank will issue bonds on behalf of the Austrian Ministry of Finance using the Austrian Direct Auction System, which was developed on the basis of the Ethereum blockchain platform.
It is noted that the bond issuance system will be notarized as values of the Ethereum data hash function. This is the first time that the country's government has used the technology as part of the Federal Bond Auction in Austria.
It is possible that the country's authorities will also think about issuing tokenized bonds that will function in parallel with existing paper or digital systems.
Austrian Finance Minister Hartwig Löger noted that the country considers blockchain as a technology "setting the tone in economic policy."
 | Thanks to the creation of a fintech advisory council under the Ministry of Finance, we have begun to develop strategies that allow Austria to optimally enjoy the benefits of such developments, he said. |  |
According to Markus Stix, Managing Director of the Austrian Ministry of Finance, blockchain technology plays a key role in ensuring security and reducing costs.[1]
| | This additional security contributes to the achievement of a high level of confidence in the auction for Austrian government bonds and strengthens Austria's good reputation in the market, which indirectly should also have a favorable effect on financial expenses, Styx said. | |
Steve Wozniak compared Ethereum to Apple
In May 2018, Steve Wozniak compared the Ethereum blockchain platform to Apple and stated that the technology could repeat the revolutionary path of the American corporation.
| | Ethereum is interesting to me because you can do different things with it and because it is a great platform. Through Ethereum, I can experiment with paying for various goods and services. In the long term, Ethereum has every chance of becoming as popular as Apple, "Wozniak said at the WeAreDevelopers conference in Vienna, speaking to an audience of 5,000 people. | |
By May 21, 2018, the market capitalization of Ethereum is about $68 billion against Apple's $922 billion. Despite the significant difference in cost, Steve Wozniak believes that Ethereum can revolutionize the IT industry in the near future.
At the same time, the co-founder himself sold almost all the cryptocurrency that he had so as not to "worry about exchange rate changes." By May 21, he had one bitcoin and two "ethereum" (Ethereum).
Wozniak added that he is building a "very positive outlook for blockchain and virtual currencies due to the fact that they are capable of changing many areas and industries."[2]
2017
Ethereum Blockchain Training Plan at Innopolis University
The leadership of the Russian IT university and Vitalik Buterin agreed on this in August 2017 at a meeting at Innopolis University. The founder and chief architect of Ethereum visited the university in Innopolis for communication with professors and open dialogue with students. Read more here.
Ethereum and VEB became partners
Vnesheconombank and the Ethereum Foundation entered into a partnership agreement in August 2017, according to which organizations will implement projects using blockchain technology and the Ethereum platform.
The document was signed by the founder of the Ethereum Foundation, the chief architect of the Ethereum platform Vitalik Buterin and the Chairman of Vnesheconombank Sergey Gorkov.
Market capitalization of $20 billion
On May 30, 2017, Ethereum, which develops the blockchain platform of the same name, became more expensive than the social network Twitter. This was reported in the analytical agency CoinMarketCap.
It was estimated that by the end of May 2017, the market capitalization of Ethereum exceeded $20 billion, while Twitter, according to the New York Stock Exchange, had a figure of $13.68 billion.
Ethereum began to cost more than $1 billion in the spring of 2016. Until the beginning of 2017, capitalization fluctuated at this mark, and at the end of February it began to grow rapidly. In just a few months, the company managed to achieve a value of $20 billion.
This result, according to Vladislav Martynov, Ethereum representative in Russia and co-founder of the BlockGeeksLab investment fund, primarily demonstrates a high level of trust in users and the business community in the potential of blockchain technologies and in the business model that the platform developers have chosen.
The initial investment in Ethereum was collected through crowdfunding and amounted to $20 million. During 2016, developers of new services and applications conducted ICOs on the Ethereum platform for a total of $330 million and $140 million were raised as venture capital investments.
Vladislav Martynov explains the growth of Ethereum capitalization for several reasons. One of them is that developers pay a lot of attention to finding solutions that help the platform develop and scale. Ethereum attracted the attention of several dozen large partners, including the largest banks and financial institutions, governments of different countries, and the largest IT companies.
The second reason is organizational. Previously, the blockchain community did not have a clear authoritative leader, which is Vitalik Buterin, Martynov continues. Another reason for increasing interest in Ethereum, he considers the very development of the blockchain market.
UN launches Ethereum blockchain-based refugee relief pilot project
The joint blockchain project "Ethereum" and the "World Food Program World Food Program (WFP) will provide food and food to 10 thousand refugees.
Since the beginning of May 2017, the UN began transferring funds to thousands of people in Jordan using the Ethereum blockchain solution. Cryptodengs will send for dozens of stores in five refugee camps across the country. How much, equivalent to the Jordanian dinars, "you can cook" a crypto coupon is not reported. The coupon activation occurs after the recipient is authenticated using a retinal scan through the British biometric platform "IrisGuard." The pilot also involved joint blockchain products from the developers of UN Innovation Accelerator, Parity Technologies and Datarella.
The UN believes that the implementation of a humanitarian program using blockchain reduces the cost of intermediaries, because it is sent to local sellers and suppliers of products.
Creation of the Enterprise Ethereum Alliance Consortium
White Paper: Enterprise Ethereum Alliance (EEA)
Enterprise Ethereum Alliance (EEA) is a non-profit consortium created in February 2017, whose members are looking for opportunities to use blockchain technology on the Ethereum platform in real business.
The alliance brings together the largest international companies such as CME Group Credit Swiss, DTCC, ING,, JPMorgan Santander,,,, UBS,, as well Accenture Deloitte Intel Microsoft as IT startups and research organizations. EEA creates innovative technologies that will provide companies with a new level of data privacy, reliability and scalability of operations.
2016: Working with the world's leading banks
As of May 2016, the Ethereum platform, created by Vitalik Buterin, serves international banks, including Goldman Sachs, Credit Suisse, Barclays and JP Morgan, as well as Microsoft. In total, the platform, according to the company itself, is used by 40 credit institutions around the world. The founder of the platform, Vitaly Buterin, then stated that the Russian market "is of great interest and has great potential for the development of Ethereum and the launch of new projects in the field of fintech."
2015: Microsoft and ConsenSys launch Ethereum Blockchain as a Service
Main article: Ethereum Blockchain as a Service (EBaaS)
On November 9, 2015, Microsoft, together with partner ConsenSys, offered users of the Microsoft Azure cloud platform a service called Ethereum Blockchain as a Service (EBaaS). It will allow you to create applications based on block chain technology, by analogy with the one on which the Bitcoin cryptocurrency is based. [3].
2013: Creating a Platform
Di Iorio is one of the eight co-founders of Ethereum, which funded the project during the first stages of its development. In addition to him, Russian-Canadian programmer Vitaly Buterin, as well as Gavin Wood, Charles Hoskinson, Mihai Alisie, Amir Chetrit, Joseph Lubin and Jeffrey Wilk are behind the cryptocurrency platform.
Notes
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