Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Vitalik Buterin’s Vision Turns 11: Ethereum White Paper’s Influence on Decentralized Applications

The white paper, the initial version of Ethereum’s basic technical whitepaper, has celebrated its eleventh birthday. Ethereum co-founder Vitalik Buterin initially sent the initial version of the document, often known as the proto-white paper, in an email headlined “Introducing Ethereum: a generalized smart contract/DAC platform” in November 2013. The Ethereum white paper, which Buterin made a few minor adjustments to before posting the initial version on Ethereum’s website, was shared for the first time. The paper is referred to as a next-generation smart contract and decentralized application platform, and it was motivated by Satoshi Nakamoto’s creation of the Bitcoin network in 2009.

DeFi’s Rise: How Ethereum Paved the Way for Decentralized Lending, Staking, and More?

The foundation for all the new decentralized finance (DeFi) applications, including yield-farming, decentralized lending, borrowing, and staking, was established by Buterin’s inventions, which introduced the idea of self-executing, blockchain-based smart contracts. According to James Wo, the founder and CEO of DFG, the company’s eleventh anniversary is further evidence of DeFi’s expanding usefulness and its growing status as a financial paradigm alongside the banking system.

DeFi enabled services like lending and swapping without any centralized intermediary, providing an alternative to traditional banking systems in a trustless and transparent manner.

Wo

Ethereum became the platform for thousands of decentralized apps (DApps) and millions of smart contracts in the first ten years. According to Alex Mizrahi, co-founder and chief technical officer of the Chromia blockchain platform, Ethereum’s quick acceptance will probably pick up speed over the next ten years, particularly among institutions.

In the next 10 years, I only see this accelerating, with Ethereum continuing to be a foundational piece of the blockchain industry, and developers continuing to build on and iterate what Ethereum has done. I see increased institutional adoption, mainstream use cases, and improvements in the user experience and usability of blockchain.

Mizrahi

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