For any technology that you learn, the history of how it was created is not always super important. But here getting an idea of why #Ethereum was created can serve to help you understand what the project is and where it's headed. Back on October 31st, 2008, the first notable event of #Bitcoin "White Paper" takes place. It's essentially was academic paper. Released by "Satoshi Nakamoto". This paper describes the creation of a system that would allow people to pay each other directly without the need for a central authority (like Banks). The Bitcoin Network was eventually brought online in January 2009. One of the key characteristics was the idea of the blockchain. Bitcoin network thrived and continues to thrive today. The purpose was to enable financial transactions.

Not long after its release, many people realize that they could use some of the bitcoins' original innovations to not only handle the transfer of currency but other types of exchanges as well.

One person who felt very strongly about this idea was "Vitalik Buterin". And he polished the white paper later in 2015. He thought the Bitcoin project was too simple in nature. He Envisioned #BlockchainTechnology to create far more complex applications. He described using #Ethereum to create Sub Crypto Currencies, Domain name registration, and gambling applications. Besides the White paper, Vitalik Buterin describes the most important part of the theory network called #SmartContracts.

A "Smart Contract" is a piece of code that lives in Ethereum and blockchain. These contracts are the absolute core of what Ethereum is. The Ethereum System eventually went online on July 30th, 2015. As it also continues to flourish to this day.

That's How Ethereum was Developed.

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