Blockchain Academy
We'll get together for networking with people interested in Blockchain including developers and anyone curious about Blockchain.

Ethereum

Ethereum is a cryptocurrency that was born in 2015 under the leadership of a figure named Vitalik Buterin. Ethereum is like a Bitcoin in that it is a blockchain based cryptocurrency, but it is also called a second generation cryptocurrency in that it supports Turing integrity. According to the Ethereum white paper, the existing Bitcoin could only perform the functions of simple payment and remittance, but if it can perform any state according to the rules coded in the blockchain, it can create contracts in the program and implement various applications to realize a decentralized application platform. Ethereum can create smart contracts using Turing complete language that supports loops and adds the concept of a GAS fee to prevent infinite loop routes. In addition, memory-dependent mining methods do not rely on mining machines, prevent mining monopolies, and complement slow transaction processing speed of Bitcoin through account and state concepts. The unit of Ethereum's internal currency is Ether, and blocks are generated one at about every 15 seconds. Unlike Bitcoin, there is no limit on total issue volume, but the consensus method uses the same PoW method as Bitcoin. Ethereum is currently under development and is completed in four stages of the roadmap announced by the Ethereum Foundation.

Ethereum load map

Step 1 Frontier
It is the stage of development and mining of Ethereum and forming the network.

Step 2 Homestead
It is the stage where an ecosystem is constructed as one house and two houses are created in the new world called Ethereum.

Step 3 Metropolis
It is the stage where the social infrastructure for the popularization of the Ethereum is formed as the houses are gathered and the city is formed. At this stage, the Ethereum mining method is converted to a PoS system that grants authority in proportion to the assets from a PoW that grants authority in proportion to the computation power. Ethereum plans to introduce a share certificate through an algorithm called Casper and gradually increase the ratio.

Step 4 Serenity
It is the last step to find calm after every change.

Vitalik Buterin

Born in 1994, a Russian - Canadian, and when he did favorite game in his youth, Buterin discovered the problem of centralized service and stop the game by the reason that erasing the game company 's favorite characters. Since then he started to study cryptocurrency and he started to write in Bitcoin magazine. After then, he thought that the blockchain could be used not only for simple monetary functions but also for a wider field. So, he suggested a way to improve the existing Bitcoin system but he was rejected. And he eventually developed Ethereum, a new blockchain platform.