Ethereum 5 year prediction Ethereum-creator Vitalik Buterin Out-Bitcoin Bitcoin? Vitalik Buterin, creator of the fast-growing new cryptocurrency network Ethereum, wants to use his technology to disrupt, well, everything. Fortune » Can This 22-year-old Coder Out-Bitcoin Bitcoin? Can This 22-year-old Coder Out-Bitcoin Bitcoin?
Vitalik Buterin, creator of new cryptocurrency network Ethereum, wants to disrupt, well, everything. 201d says Chris Dixon, a general partner at Andreessen Horowitz, a venture capital firm in Silicon Valley that got into the Bitcoin game early on. 2019s happened in the whole space in a couple of years. 2019s latest billion-dollar startup, however, think again. 2019s a vagabond who more or less lives out of a backpack and crashes on couches wherever he happens to be coding. 201d as a nonprofit foundation based in Zug, Switzerland.
2019s chief scientist, Buterin looks to Linus Torvalds, the firebrand inventor of Linux, an open-source computing system that powers many operating systems today, as inspiration. In that sense, Buterin represents a challenging archetype for the banks and investors lining up to invest in the potentially world-altering technology underlying cryptocurrencies: the unprogrammable programmer. Vitalik Buterin created his own digital currency called Etherium. Photographer: Julie Glassberg for Fortune.
BOLD VISION Buterin wants to use his technology to radically re-architect the web, upending the current power structure. In the near future, he believes, entire companies could be controlled by crowdsourced algorithms rather than executives. BOLD VISION: Buterin wants to use his technology to radically re-architect the web, upending the current power structure. On the day I meet him, Buterin, tall and skeletally thin, is wearing a wrinkled T-shirt promoting open-source software and a pink-and-purple-striped Swatch wristwatch with a smirking Cheshire cat on its face.
He tends to reply to questions in a voice so measured that it almost sounds computer generated. 2019s ambition is anything but muted. 2014taking power away from traditional brokers and delivering it to the masses. 2019s technology achieves mass adoption, his plan will have the added benefit of enriching him and other Ether holders. 2014a legitimate question in the wake of the hack of the DAO, which was constructed on his network.
Much of the excitement in the tech community has been shifting toward Ether in recent months and away from other digital monies, like Bitcoin. But in the volatile, idealistic world of cryptocurrencies and their creators, allegiances can change rapidly. The digital currency movement achieved liftoff at a moment when the global financial system appeared to be on the verge of collapse. 1, 2008, just weeks after Lehman Brothers went under and kicked off a worldwide market crisis, a bulletin appeared on an esoteric mailing list that was a favorite haunt of cryptography enthusiasts. 201d wrote a newcomer to the thread alongside an abstract and a link to a nine-page academic paper. He called the creation Bitcoin. 201d had solved a long-standing conundrum in computer science known as the Byzantine Generals Problem.
Building on the work of others, he proposed a decentralized system in which effectively no one could cheat. 2019s genius was to use a blend of cryptography, mathematics, and game theory to keep everyone honest. 2019s system accomplished the feat. 2014a new system for structuring data.