Vitalik Buterin, co-founder of the Ethereum Foundation. Photo / Getty Images
Ethereum co-founder Vitalik Buterin is the world’s youngest known crypto billionaire and recently made headlines for his $ 1 billion donation to the India Covid Relief Fund.
He then burned 410 trillion of one of the newest cryptocurrencies to enter the market – Shiba Inu coins.
Who is the 27 year old behind Ethereum?
He has been in the crypto game since he was 18
Buterin was born near Moscow and moved to Canada when he was 6 years old. At 17, he met Bitcoin from his father, who had a small software startup, although he initially rejected the concept, thinking it was doomed.
Then the Russian-Canadian programmer became curious about the decentralized payment system of the cryptocurrency.
Wanting to buy his way into Bitcoin but didn’t have the money, he wrote blog posts in exchange for paying in crypto.
Buterin is spontaneous when asked about his move to crypto and does not solicit media attention as he appears shy. He claims he was looking for his next obsession after quitting playing World of Warcraft. When he was 18, he co-founded Bitcoin Magazine.
Initially, he focused on power inequality
He admitted that cryptocurrency could be a great way to correct this imbalance by blaming too much government power for the sins of society.
“I just saw anything that had to do with government regulation or corporate control as evil. And I assumed that the people in these institutions were something like Mr. Burns [from the Simpson’s]They sat behind their desks and said, “Excellent. How can I kid a thousand people in this time? “He told Wired in 2016.
While it is no longer so black and white for him, he wants to “strengthen the little guy”. “And personally, I say fuck the big guy. You already have enough money,” he added.
On the subject of matching items
He dropped out of university to create an Ethereum
First he wrote a white paper in which he described his idea.
When he first described his concept at a Bitcoin conference, he received a standing ovation from the audience.
Ethereum’s coin, Ether, was first launched in 2015 when Buterin was only 21 years old.
At the time, it was hailed as something that could root out corruption based on the systems it created.
Buterin also managed to get a university qualification. For his innovative work in the blockchain area and his contribution to the ecosystem, he received an honorary doctorate from the University of Basel in Switzerland.
Bitcoin was too easy
Part of the motivation for creating an Ethereum was that Buterin believed Bitcoin offered limited functionality and described this as the difference between a simple calculator and a smartphone. The calculator does one thing well, but people want more, he said.
“If you have a smartphone, you have a plot key calculator as an app on your smartphone. You play music as an app. You have a web browser as an app and pretty much everything else,” he told Business Insider.
Part of the motivation to create an Ethereum was Vitalik Buterin, who believed Bitcoin offered limited functionality. Photo / AP
He brought this idea into Ethereum to “improve the performance of the system by making it more general” and apply it to blockchains, the technology behind many cryptocurrencies.
There are some bizarre rumors going on about him
Some are free while others are downright weird. Some claim that he once ate a whole lemon without removing the peel, that he is an Android powered by the Ethereum network, and that he likes to wear mismatched Hello Kitty socks, Wired reported back in 2016.
There are also those who could fit everything he owns in a suitcase. He learned to speak Mandarin fluently in a couple of months, and he needs to be able to add three-digit numbers in his head twice as fast as the average person.
In the third grade he was placed in a class for gifted students
Buterin said he experienced a lot of social exclusion as a result.
“I remember knowing for a long time that I was abnormal in some ways,” he told Wired. “When I was in fifth or sixth grade, I remember a lot of people talking about me like I was some kind of math genius. And there were so many moments when I realized how okay, why not I’m like a normal person and averaged 75 percent like everyone else. “
He’s not a prolific tweeter unlike another billionaire
Unlike Elon Musk, he’s not on Twitter much, despite having 1.7 million followers.
Overall, ether prices have more than quadrupled this year and are up 375 percent. Buterin holds approximately 333,500 ethers in his public wallet and is a billionaire despite price fluctuations.
It is currently worth US $ 2,677.
Part of the rise in Ethereum can be attributed to the fact that it is the cryptocurrency of choice for buying non-fungible tokens or NFTs – digital works of art, memes, and other collectibles.
Ethereum is becoming more environmentally friendly
After Musk pulled the plug that bitcoin had been accepted by Tesla due to climate change concerns, it was revealed that Ethereum is only a few months after reducing its carbon footprint.
The existing Ethereum network consumes about 5.13 gigawatts of electricity – around consumption in Peru – but estimates that this figure will drop to 2.62 megawatts after the way it works.
He has a philanthropic attitude
Helping India through the Covid-19 crisis isn’t his first charitable act.
In 2017, he donated nearly $ 770,000 to the Machine Intelligence Research Institute, which is committed to helping artificial intelligence technologies have a positive impact on humanity.
In 2018, he donated $ 2.4 million to the Sense Research Foundation, which develops solutions to health problems related to aging and provides $ 1 million to charitable causes for Ugandan refugees.