Rise of Ethereum
Ethereum is the first of its kind, general-purpose programmable blockchain technology.
Blockchain technology plays a pivotal role in storing transaction information within a transparent public ledger replicated across numerous nodes worldwide. This network is governed by a decentralized protocol or a consensus mechanism, which ensures that the decentralized ledger holds a single version of the truth.
Ethereum strived to build a platform that allows computer programs to be recorded in the blockchain ledger. These programs also known as smart contracts, can help build logic that is immutable and auditable across the globe.
The Ethereum whitepaper titled “Ethereum: A Next-Generation Smart Contract and Decentralized Application Platform” is regarded as the first formal document explaining the concept of Ethereum. Though the technical side of Ethereum currently has far advanced from the specifications in the whitepaper, it is still regarded as the first step in Ethereum's journey.
After the launch of the Ethereum main network (mainnet) in 2015, the network protocol underwent several upgrades, reshaping it to its current status.