Vitalik Buterin had worked on various Bitcoin projects before a 19 years old programmer from Toronto thought of Ethereum. The platform was ideally developed for robust blockchain applications.
Since Vitalik worked on Bitcoin blockchain projects, he faced number of issues while working.
Bitcoin blockchain initially perceived as a medium for financial transactions / applications but Vitalik realized blockchain can perform more than just transactional computations.
Vitalik got introduced with the Bitcoin and blockchain technology right in the year of its launch i.e. 2011. He started a Bitcoin Magazine the very same year. Through this magazine, he shared his views on digital future. Later, he worked on Mastercoin and other alternate coins with Bitcoin codebase. This work was a pushing factor for him as he knew the scope of Bitcoin is limited.
Ethereum Whitepaper 2013A whitepaper of Ethereum launched in 2013 illustrating the new protocol of decentralized applications.
The key difference between Bitcoin and Ethereum was the platform’s ability in trading more than just a cryptocurrency.
Official Announcement in 2014An official announcement of Ethereum had made. Also the team expanded. Along with Vitalik, Dr. Gavin Wood and Joseph Lubin were developing the blockchain platform.
Ethereum yellow paper released by Wood which showcased how Ethereum Virtual Machine (EVM) will execute smart contracts. Lubin on the other hand, founded Consensys, a studio for decentralized apps.
Ether Crowdsale 2014In July 2014, Ethereum Foundation conducted a crowdsale where they sold 60 million of their tokens. For expansion, development and marketing activities, the foundation created 12 million Ether tokens.
First Live Release of Ethereum 2015Frontier was the first live release or a product of the network which helped developers interact and develop apps over the network in 2015.
Hence, Vitalik thinks Ethereum is the solution of all problems or use cases of blockchain.
50$ Million Ether Stolen 2016An anonymous hacker had stolen about $50 million Ether from Ethereum network which placed a question mark on its security. The incident caused a split in Ethereum community. Now there are two blockchain factions i.e. Ethereum (ETH) and Ethereum Classic (ETC).
Ethereum Growth in 2017The network grew 13000 times in 2017 which attracted investors but the volatility of this platform makes investors think twice or stay cautious.
Present - 2018The infrastructure of the Ethereum is much better from its infancy state. Still the platform is young and has limitless potential within. Recently it has topped $2.2 billion in circulation and moved from 12th to 10th place in top 10 cryptocurrencies.... Read More
Crowdfunding through ICOs was all the rage in 2017 and for a good reason; it allows startups and entrepreneurs raise funds for keeping their dream projects up and running. Without going through complicated and time taking legalities, ICO is a quick way for raising capital.
It’s knowingly being said, ‘a goal without a plan is just a wish’, same implies for ICOs. Although in the last year, around $4billion were raised through ICOs and more is expected in 2018, there still is a space for industry standards to follow.
According to news sources, $6.3 billion has been raised in the first three months of this year, which is a lot more than the whole funding raised in 2017. Common perception of ICO platform as a controversial fundraising method and it will soon be extinct, now seems highly overrated with that much of investment in ICOs.
Looking forward for participation in an ICO or want to launch one? Here are few tips which will help in making up your mind.
Whitepaper - Define Your Goals, Plan WellLike any other business project, ICO has its own goals, and objectives. Usually, this is done through whitepaper, hire whitepaper expert who will structure and narrate each and every phase of the ICO in detail. This gives investor confidence and brief understanding regarding the ICO project.
Also, participants of the ICO should get to know what’s the problem and how it will be addressed through an ICO. This comes along with a roadmap, a document which gives the timeline of the ICO, when will the presale starts and ends? Live ICO dates and milestones.
Highlight Team of Professionals, Build CommunitySuccessful ICOs are composed of team of professionals dedicating their time and effort on the ICO project. They have knowledge and experience much needed for launching an ICO. An ICO website should mention profiles of team members along with their social accounts, this builds trust.
Community building is another step towards launching a successful ICO. Socially activate blockchain enthusiasts long before launching the pre-sale. This helps in generating social buzz and traction for ICO.
Popular Ways for Setting Price PlansThere are certain ways which are followed in ICOs price plans. In ‘no fixed price’ plan, participants can buy tokens as a contribution without any fixed pricing. Whereas in ‘fixed price’ tokens price is fixed and they can only be traded after freezing period.
Dutch auction is another way where initial few tokens are the most expensive and as the ICO sales comes to its final ending, price decreases with the passage of time. And lastly, participants will get the best possible price for the purchased tokens.... Read More