Ethereum

Ethereum

Ethereum is an open-source, public, distributed blockchain computing platform featuring smart contract (scripting) functionality, which facilitates online contractual agreements.

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Infobox
Founder
Vitalik Buterin
Written in
Go, C++, Rust
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The Ethereum network runs on a blockchain which is secured by miners. These miners run a Proof-of-work system consensus algorithm called Ethash. There are future plans to move to a Proof-of-stake consensus algorithm.

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Vitalik Buterin proposed the ethereum protocol in his 2013 whitepaper with the goal of creating a general purpose blockchain platform to support decentralized applications and smart contracts. Buterin had previously contributed within the Bitcoin developer community and found limitations to the Bitcoin scripting language including lack of Turing-completeness, value-blindness, lack of state, and blockchain-blindness. Ethereum was formally announced at the North American Bitcoin Conference in Miami, Florida.

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In early 2014 additional developers joined Buterin, including Gavin Wood and Jeffrey Wilcke listed as Lead C++ Developer and Lead Go Developer respectively. as well as Anthony Di Iorio, Mihai Alisie, Joseph Lubin, and Stephen Tual are listed asin primaryprimarily non-development membersroles. The Ethereum Foundation (Stiftung Ethereum) was founded in July 2014 in Switzerland.

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By April 2014, Gavin Wood published the Ethereum Yellow Paper describing the formal definition and technical specifications of the Ethereum Virtual Machine (EVM).

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Ethereum was funded by an initial coin offering (ICO) launched in July 2014. WithinAccording to the Ethereum foundation, within the first two weeks more than 50 million ETH were sold. In total, the 42-day public ether pre-sale raised 31,591 bitcoins worth approximately $18 million dollars at the time.

...

Prior to the official launch of ethereumEthereum, a series of proof of concept versions of were released culminating in the beta release named Olympic on May 9th, 2015. The purpose of Olympic was to engage the community to stress test the network, build decentralized applications, and start running nodes. Total rewards of 25,000 ethers were distributed to community members for contributions in the four categories of transaction activity, virtual machine usage, mining prowess, and general punishment.

...

The initial public launch named Frontier was released on July 30, 2015. This release provided instructions for generating the first block in the ethereum blockchain known as the genesis block, which was created with a unique parameter from the hash of the ethereum testnet block #1028201 and contained all transactions from the ethereum crowdsale.

...

The Metropolis release will be split into two parts - the first of which called Byzantium was for released on block 4,370,000 on October 16, 2017. The Byzantium release will introduce privacy features zk-snarks and zero-knowledge proofs to the ethereum blockchain, a feature added due to collaboration with the developers of Zcash including Zooko Wilcox. Additionally, the Metropolis release will include account abstraction, returndata, and revert capabilities. The release date for second part of metropolis named Constantinople has not yet been determined.

...

The last planned release of ethereum named Serenity plans to include features to transition ethereum from a proof-of-work consensus protocol to the a proof-of-stake based on the Casper protocol being developed by Vitalik Buterin, Vlad Zamfir, and the ethereum teamothers. Among other improvements Serenity is also scheduled to include a blockchainimplement sharding to improve scalability.

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Introduction

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DevCon 3 developer conference is held in Cancun, Mexico.

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Bitmain confirms development ofdevelops Ethash ASIC

The Antminer E3 is listed for sale by mining firm Bitmain starts selling the Antminer E3, an ASIC capable of mining Ethereum and other cryptocurrencies using the hashing algorithm ethash. The revelation inspiredinspires an EIP within the Ethereum developer community to open discussion on "bricking" these ASICs by changing the hash function to stop these specific ASIC miningunits from working on Ethereum.

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Bitmain confirms development of Ethash ASIC

The Antminer E3 is listed for sale by mining firm Bitmain. The revelation inspired an EIP to open discussion on "bricking" these ASICs by changing the hash function to stop ASIC mining.

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Alex Dean edited on 20 Mar, 2018
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Further reading

Author
Title
Link

http://www.ethdocs.org/en/latest/

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The Metropolis release will be split into two parts - the first of which called Byzantium was for released on block 4,370,000 on October 16, 2017. The Byzantium release will introduce privacy features zk-snarks and zero-knowledge proofs to the ethereum blockchain, a feature added due to collaboration with the developers of Zcash including Zooko Wilcox. Additionally, the Metropolis release will include account abstraction, returndata, and revert capabilities. The release daterelease date for second part of metropolis named Constantinople has not yet been determined.

Alex Dean"This crosslink is to the release date musical album topic. Removing link."
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The Metropolis release will be split into two parts - the first of which called Byzantium was for released on block 4,370,000 on October 16, 2017. The Byzantium release will introduce privacy features zk-snarks and zero-knowledge proofs to the ethereum blockchain, a feature added due to collaboration with the developers of Zcash including Zooko Wilcox. Additionally, the Metropolis release will include account abstraction, returndata, and revert capabilities. The release daterelease date for second part of metropolis named Constantinople has not yet been determined.

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Further reading

Author
Title
Link

Jon Choi

Ethereum Casper 101

https://medium.com/@jonchoi/ethereum-casper-101-7a851a4f1eb0

Ethereum Foundation

Ethereum Foundation research initiatives — primary topics in both pure and applied research

http://notes.eth.sg/CwIwZgbAjADAxgUwLQEMUIKxOCsWCcIEwShAHCgEwJj4qyVA

Gavin Wood

https://ethereum.github.io/yellowpaper/paper.pdf

Hsiao-Wei Wang

Ethereum sharding: overview and finality

https://medium.com/@icebearhww/ethereum-sharding-and-finality-65248951f649

Hudson Jameson

Accounts, transactions, gas, and block gas limits in Ethereum

https://hudsonjameson.com/2017-06-27-accounts-transactions-gas-ethereum/

Josh Stark

Making sense of Ethereum’s Layer 2 scaling solutions: state channels, Plasma, and Truebit

https://medium.com/l4-media/making-sense-of-ethereums-layer-2-scaling-solutions-state-channels-plasma-and-truebit-22cb40dcc2f4

Laura Shin

Vitalik Buterin, creator of Ethereum — Unchained: big ideas from the worlds of blockchain and cryptocurrency

https://itunes.apple.com/us/podcast/unchained-big-ideas-from-worlds-blockchain-cryptocurrency/id1123922160

Matt Condon

Basic terminology for Ethereum — from gas to dapps (distributed apps)

https://medium.com/@mattcondon/getting-up-to-speed-on-ethereum-63ed28821bbe

Vitalik Buterin

Ethereum scalability research and development subsidy programs

https://blog.ethereum.org/2018/01/02/ethereum-scalability-research-development-subsidy-programs/

Vlad Zamfir

The history of Casper 

https://medium.com/@Vlad_Zamfir/the-history-of-casper-part-1-59233819c9a9

Documentaries, videos and podcasts

Title
Date
Link

Ethereum in 25 minutes

Oct 10, 2016

https://youtu.be/66SaEDzlmP4

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The bitcoin talk announcementbitcoin talk announcement and bitcoin magazine articlebitcoin magazine article on Ethereum is posted by Vitalik Buterin. The post describes his vision of a trustless decentralized database with a Turing-complete scripting language. Coindesk coverage.

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Ethereum launched Ether tokens to the public. The initial price wasis 2000 ETH per BTC for 14 days until reaching a final rate for the token sale of 1337 ETH per BTC.

~12m (~16.5% of genesis) Ether wereare allocated to the development group.

The Olympic testnet wasis released with a prize fund of 25,000 ether for stress testing the network.

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FrontierEthereum is launched

The Ethereum Frontier network is launched.

The Ethereum Frontier network is launched and the genesis block is created. Ethereum is written from scratch and is not a fork from any other existing blockchain.

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https://www.coindesk.com/ethereum-decentralized-app-network-launch/

https://blog.ethereum.org/2015/07/30/ethereum-launches/

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The Ethereum yellowpaper, written by Dr. Gavin Wood, is released. The yellowpaper describes the technical details of the ethereum virtual machine.

Ethereum launched Ether tokens to the public. The initial price was 2000 ETH per BTC for 14 days until reaching a final rate for the token sale of 1337 ETH per BTC. https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/

https://blog.ethereum.org/2014/08/08/ether-sale-a-statistical-overview/

https://www.coindesk.com/information/who-created-ethereum/

~12m (~16.5% of genesis) Ether were allocated to the development group.~12m (~16.5% of genesis) Ether were allocated to the development group.

A conference with a focus on research and development of blockchain applications.A conference with a focus on research and development of blockchain applications.

https://gemini.com/blog/gemini-is-now-the-worlds-first-licensed-ether-exchange/

https://www.financemagnates.com/cryptocurrency/exchange/winklevoss-twins-us-bitcoin-exchange-gemini-adds-ethereum-trading/

https://www.nytimes.com/2016/06/18/business/dealbook/hacker-may-have-removed-more-than-50-million-from-experimental-cybercurrency-project.html?_r=0

https://www.coindesk.com/dao-attacked-code-issue-leads-60-million-ether-theft/

http://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/

https://blog.coinbase.com/coinbase-adds-support-for-ethereum-b8046cf486d0

https://www.coindesk.com/big-corporates-unite-for-launch-of-enterprise-ethereum-alliance/

https://ethereumfoundation.org/devcon3/

https://qz.com/1126398/inside-devcon3-the-euphoric-gathering-for-ethereum-diehards/

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DevCon 3 takes place in Cancun

https://ethereumfoundation.org/devcon3/

https://qz.com/1126398/inside-devcon3-the-euphoric-gathering-for-ethereum-diehards/

Enterprise Ethereum Alliance launches

EEA is a consortium of companies developing standards for working with Ethereum distributed ledger technology.

https://www.coindesk.com/big-corporates-unite-for-launch-of-enterprise-ethereum-alliance/

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The metropolis release will be split into two parts the first of which called Byzantium is scheduledwas for releasereleased on block 4,370,000 inon October 16, 2017 barring setbacks. The Byzantium release will introduce privacy features zk-snarks and zero-knowledge proofs to the ethereum blockchain, a feature added due to collaboration with the developers of Zcash including Zooko Wilcox who developed technology. Additionally the metropolis release will include account abstraction and returndata and revert capabilities. The release date for second part of metropolis named Constantinople has not yet been determined.

Timeline

Ethereum launched Ether tokens to the public.

Ethereum launched Ether tokens to the public. The initial price was 2000 ETH per BTC for 14 days until reaching a final rate for the token sale of 1337 ETH per BTC. https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/

Ethereum sale raises >$16m

12m Ether were allocated to the development group.

~12m (~16.5% of genesis) Ether were allocated to the development group.

Ethereum Foundation receives remaining Ether

Ethereum Foundation is based in Switzerland and a non profit foundation.

Frontier is the initial version of Ethereum.

The Ethereum Frontier network is launched.

https://www.coindesk.com/ethereum-decentralized-app-network-launch/

https://blog.ethereum.org/2015/07/30/ethereum-launches/

Homestead hardfork upgrade

A planned protocol upgrade to the Ethereum network.

A planned hardfork protocol upgrade to the Ethereum network that went live on block 1,150,000. Homestead included protocol changes providing changes to the network giving increased ability for further upgrades, improved transaction speed, and improved security.

The DAO is hacked and 1.5m ETH worth ~$50m of ETH is claimed by an anonymous group.

https://www.nytimes.com/2016/06/18/business/dealbook/hacker-may-have-removed-more-than-50-million-from-experimental-cybercurrency-project.html?_r=0

https://www.coindesk.com/dao-attacked-code-issue-leads-60-million-ether-theft/

http://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/

The network split occurred.

The decision to perform a hardfork of the network is made via a CarbonVote whereby 97% of the network supported the hardfork and returning of funds lost in the DAO. Ethereum argued for decentralized decision making and conflict resolution using an extra protocol. Ethereum Classic argued for 'code is law' and blockchain immutability.

Extra protocol debate

Ethereum argued for decentralized decision making and conflict resolution using an extra protocol.

Ethereum Classic Debate

Ethereum Classic argued for 'code is law' and blockchain immutability.

Russia 'endorses' Ethereum

This caused prices of ETH to rise.

Metropolis (Byzantium) hardfork upgrade

The planned Byzantium hardfork is successfully released. The upgrade provides support for zk-snarks, account abstraction, and other changes.

Coinbase adds Ethereum trading

Ethereum becomes the second cryptocurrency after bitcoin to be added to the coinbase exchange.

https://blog.coinbase.com/coinbase-adds-support-for-ethereum-b8046cf486d0

Gemini exchange adds Ethereum trading

Gemini becomes the first licensed ether exchange.

https://gemini.com/blog/gemini-is-now-the-worlds-first-licensed-ether-exchange/

https://www.financemagnates.com/cryptocurrency/exchange/winklevoss-twins-us-bitcoin-exchange-gemini-adds-ethereum-trading/

DevCon 1 takes place in London from November 9-13

A conference with a focus on research and development of blockchain applications.

Olympic: A Frontier testnet released

The Olympic testnet was released with a prize fund of 25,000 ether for stress testing the network.

Ethereum presale raises 31,591 Bitcoins worth ~$18,000,000 at the time.

https://blog.ethereum.org/2014/08/08/ether-sale-a-statistical-overview/

https://www.coindesk.com/information/who-created-ethereum/

Ethereum yellowpaper published

The Ethereum yellowpaper, written by Dr. Gavin Wood, is released. The yellowpaper describes the technical details of the

Vitalik Buterin presents Ethereum at Bitcoin Miami 2014

Youtube video of Vitalik's presentation

Coindesk coverage of Miami 2014 including Ethereum.

Ethereum announced on bitcointalk and bitcoin magazine.

The bitcoin talk announcement and bitcoin magazine article on Ethereum is posted by Vitalik Buterin. The post describes his vision of a trustless decentralized database with a Turing-complete scripting language. Coindesk coverage.

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Further reading

Author
Title
Link

Preethi Kasireddy

How does Ethereum work, anyway?

https://medium.com/@preethikasireddy/how-does-ethereum-work-anyway-22d1df506369

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Vitalik ButerinVitalik Buterin proposed the ethereum protocol in his 2013 whitepaper with the goal of creating a general purpose blockchainblockchain platform to support decentralized applications and smart contractssmart contracts. Buterin had previously contributed within the Bitcoin developer community and found limitations to the bitcoinbitcoin scripting language including lack of Turing-completeness, value-blindness, lack of state, and blockchain-blindness. Ethereum was formally announced at the North American Bitcoin Conference in Miami, Florida.

...

Ethereum was funded by an initial coin offering (ICO)initial coin offering (ICO) launched in July 2014. Within the first two weeks more than 50 million ETH were sold. In total the 42-day public ether pre-sale raised 31,591 bitcoins worth approximately $18 million dollars at the time.

...

The metropolis release will be split into two parts the first of which called Byzantium is scheduled for release on block 4,370,000 in October 2017 barring setbacks. The Byzantium release will introduce privacy features zk-snarks and zero-knowledge proofszero-knowledge proofs to the ethereum blockchain, a feature added due to collaboration with the developers of ZcashZcash including Zooko Wilcox who developed technology. Additionally the metropolis release will include account abstraction and returndata and revert capabilities. The release date for second part of metropolis named Constantinople has not yet been determined.

...

The last planned release of ethereum named Serenity plans to include features to transition ethereum from a proof-of-work consensus protocol to the a proof-of-stake based on the Casper protocol being developed by Vitalik ButerinVitalik Buterin, Vlad Zamfir, and the ethereum team. Among other improvements Serenity is also scheduled to include a blockchain sharding to improve scalability.

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...

Pre-launch:

Prior to the official launch of ethereum a series of proof of concept versions of were released culminating in the beta release named Olympic on May 9th, 2015. The purpose of Olympic was to engage the community to stress test the network, build decentralized applications, and start running nodes. Total rewards of 25,000 ethers were distributed to community members for contributions in the four categories of transaction activity, virtual machine usage, mining prowess, and general punishment.

Frontier release:

The initial public launch named Frontier was released on July 30, 2015. This release provided instructions for generating the first block in the ethereum blockchain known as the genesis block, which was created with a unique parameter from the hash of the ethereum testnet block #1028201 and contained all transactions from the ethereum crowdsale.

Homestead release:

The second major release of ethereum named Homestead went live on March 14th, 2016 on block 1,150,000. Homestead included protocol changes providing changes to the network giving increased ability for further upgrades, improved transaction speed, and improved security.

...

Metropolis (Byzantium):

The metropolis release will be split into two parts the first of which called Byzantium is scheduled for release on block 4,370,000 in October 2017 barring setbacks. The Byzantium release will introduce privacy features zk-snarks and zero-knowledge proofs to the ethereum blockchain, a feature added due to collaboration with the developers of Zcash including Zooko Wilcox who developed technology. Additionally the metropolis release will include account abstraction and returndata and revert capabilities. The release date for second part of metropolis named Constantinople has not yet been determined.

...

Serenity:

The last planned release of ethereum named Serenity plans to include features to transition ethereum from a proof-of-work consensus protocol to the a proof-of-stake based on the Casper protocol being developed by Vitalik Buterin, Vlad Zamfir, and the ethereum team. Among other improvements Serenity is also scheduled to include a blockchain sharding to improve scalability.

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