Among those who happened to read Buterin’s article was Stephan Tual, a cryptocurrency enthusiast who eventually joined Vitalik’s team. “I got the whitepaper from Vitalik and I read it and … I fell on my back, so to speak, gasped and thought, this guy is a genius and I have to work for him,” remembers .
Buterin waited for negative reviews to emerge, to highlight critical flaws, but it never happened.
“When I came up with Ethereum, my first thought was, okay, this is too good to be true and I will have five professional cryptographers attack me and tell me I’m stupid. not seeing the very obvious flaws, ”recalled Buterin. “Two weeks later, I was amazed that nothing happened. As it turns out, Ethereum’s core idea is good, fundamentally, absolutely, correct. “
A few months later, real people flew to the Bitcoin conference in Miami, where many of them first met face to face. Buterin described Ethereum on stage and the audience rewarded him with a round of warm applause. As he stepped off the podium, he was engulfed by a pile of Bitcoin, a crowd of future addicts who believe that Ethereum could deliver the next big fix. In the months following the conference, the group of founders linked again decided to raise funds through a retail batch of Ether, the native token on the Ethereum network. They have raised more than 31,000 Bitcoins from the crypto community and used the money to form a non-profit organization in Switzerland, called the Ethereum Foundation, which oversees development of Ethereum open source software.
(However, Ether sale transaction processing is less successful. All payments made in Bitcoin, at the time of sale traded around $ 650. Soon after, its price fell and the background platform, which has kept all of its profits in Bitcoin, faces a completely avoidable loss of millions of dollars.)
Last spring, the first version of Ethereum went online. All the Ether promised to early investors has been awarded and developers have started using it to play on the platform. People from the community came together in November in London to discuss their projects.
Judging from the large number of participants, it can be said that in just over a year, this technology has evolved from one’s dream to an energetic movement aimed at attracting the talent of developers. development all over the world. Buterin is no longer writing his own future, he is building an inspiring platform for people he has not even met to completely rearrange their lives and career priorities.
I meet them all the time. A small job at Consensys, a Brooklyn for-profit store that specializes in building applications on the Ethereum blockchain. The company was founded by one of Ethereum’s original founders, Joseph Lubin, who had a special talent for removing idealists from their work in the traditional financial sector. Among his staff are alumni of Bank of America, New York Stock Exchange and Deutsche Bank.
Jeff Scott Ward joined Consensys in 2014. Like many in the crypto space, he recalls watching with disgust when the 2008 housing crisis lit a match under the tinder box. our financial system. When Occupy Wall Street took over lower Manhattan, he was there. In 2014, he took a job at the New York Stock Exchange, where he got a first-hand look at the organizations that caused all the turmoil. “It’s weird because I walked on the first day of Take Wall Street and then literally took Wall Street again.”