Vitalik Buterin Background
Vitalik Buterin was born in Russia in 1994 and moved to Canada with his family when he was six years old. He first became interested in Bitcoin in 2011 and started working on Ethereum two years later.
In 2014, he co-founded Bitcoin Magazine and wrote many of the early articles about Ethereum. He also helped to launch the Ethereum Foundation in Switzerland, which is a non-profit that supports the development of Ethereum.
In 2015, Vitalik Buterin was awarded the Thiel Fellowship for his work on Ethereum. The fellowship is worth $100,000 and is given to individuals who have the potential to create new technologies or businesses.
How did Vitalik build his Net Worth?
Vitalik's net worth came primarily from him developing the Ethereum blockchain. Ethereum launched in 2015 with a successful Initial Coin Offering (ICO) that raised $18 million. The ICO was held to fund the development of the Ethereum blockchain platform.
The Ethereum network went live on July 30, 2015, with 72 million ETH pre-mined for the ICO. Vitalik Buterin received 8% of the pre-mined ETH, which is currently worth over $1 billion. Ethereum has been successful since its launch, with the price of ETH increasing from $0.30 in 2015 to over $3,000 in 2022, and has now settled at around $1,500 in 2023.
What does Vitalik Buterin do now?
Vitalik Buterin is still heavily involved in the Ethereum Foundation and the development of Ethereum. He regularly posts Ethereum Improvement Proposals (EIPs) and is active in trying to work on the scaling roadmap for Ethereum. He is also a member of the Zcash Foundation and an advisor to several cryptocurrency projects.
In addition to his work in the cryptocurrency space, Vitalik Buterin has also been involved in other projects such as Decentraland, a decentralized virtual world. He is also a co-founder of Clearmatics, a blockchain technology company.
What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts, which are applications that run exactly as programmed without any possibility of fraud or third-party interference. The network is used to build decentralized applications (dapps) and launch Initial Coin Offerings (ICOs). The native cryptocurrency of Ethereum is Ether (ETH), which is used to pay for transaction fees and gas costs.
Ethereum is different from Bitcoin because it was designed to be adaptable and extensible. Ethereum has a Turing-complete programming language, which allows developers to build any kind of decentralized application on the platform.
Vitalik Buterin has been an influential figure in the cryptocurrency space since 2011 and is widely credited with launching Ethereum. His work on Ethereum has made him one of the most successful developers in the industry, as his net worth is estimated to be $1.3 billion or 808,000 ETH. He continues to be active in the space, working on several projects and advising cryptocurrency companies.