Ethereum founder Vitalik Buterin: everything you need to know

Written by Anna Komashko
Written by
Investing reporter
ECOS community manager...
2   min.
Crypto news 
Vitalik Buterin

Vitalik Buterin, known as one of the co-founders of the cryptocurrency Ethereum, is currently known as the youngest crypto-billionaire. Few people understand how he managed it. We suggest you look deeper into its cryptocurrency and understand why it is so special. Then everything will fall into place.

How it all started?

From an early age, Vitalik Buterin was adamant that governments had too much influence over the economy and the financial sector. He believed that the enhanced role of cryptocurrency would promote decentralized financing and help fight corruption.

Strange as it may be, the young innovator was not satisfied even with Bitcoin. He believed that this cryptocurrency had very limited functionality, while people always wanted more. He compared Bitcoin and Ethereum to a calculator and a smartphone. That is why Vitalik Buterin wanted to create a cryptocurrency that would combine many more features and meet many more market needs than just making transactions.

Vitalik Buterin’s Ethereum today

Ethereum is rapidly gaining momentum today. This year alone, the cryptocurrency has increased in value almost 4 times, and in total the price has risen by 375%. Vitalik Buterin himself believes in Ethereum, and has more than 300,000 ethers in his wallet. He was never threatened by any price fluctuations. He has been a dollar billionaire for a long time, and it seems that his fortunes are only increasing.

Much of the success of Ethereum lies in the fact that it is used to trade non-fungible tokens or NFTs. With these tokens, agents trade a variety of digital assets, which can act as objects of art, elements of collections and other things.

As the world becomes increasingly concerned about climate change and the approaching environmental catastrophe, Ethereum aims to reduce the amount of electricity used to operate it. At the moment, the capacity of Ethereum uses about as much electricity as the whole country of Peru! However, after some reforms, this figure is expected to halve.

As could be deduced from the first part of the article, Buterin always tries to act for the benefit of society. Ethereum is designed to reduce the influence of government and take business to a new level. But in addition, Vitalik Buterin is concerned about other problems that arise around the world. In short, he deals with social responsibility.

That’s why the young businessman donated money to Indian medicine to help the country survive the coronavirus pandemic.

Vitalik Buterin is involved in donations to various fields. He recently funded the research and development of artificial intelligence. This area is closely related to his field of activity. Perhaps it is thanks to such philanthropists that our world will soon adopt completely new forms of management and get rid of burdensome bureaucratic processes and corruption.

Click to rate this post!
[Total: 1 Average: 5]
Investing reporter

Notify of
Inline Feedbacks
View all comments

Crypto investment platform
Download the free app on android and ios
Scan the QR-code with your smartphone to download app