Читать книгу Cryptocurrency All-in-One For Dummies онлайн

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Bitcoin had already been well established at that point. It was clear that the kinds of upgrades to core code that were needed were well beyond what was realistically possible. The politics of Bitcoin would stall any changes to the network. Vitalik and his team established the Ethereum foundation in early 2014 to raise funds to build a blockchain network with a programming language built within it. Vitalik hoped to create a network that would allow him to build blockchain-secured applications.

The initial development was funded by an online public crowd sale during July and August of 2014. The foundation initially raised a record $18 million through the sale of its cryptocurrency token called Ether. People have passionately debated whether this sort of crowd sale is illegal because it may constitute an unlicensed security offering.

The regulatory gray zone has not hindered the project. If anything, the cutting-edge nature of the project has attracted more attention and talent to the foundation. Discontented and disenfranchised developers and entrepreneurs from around the world have flocked to the project. Decentralization is seen as the perfect solution to corrupt and oppressive central authorities.