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Whitepaper - Ethereum Classic With Cover

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<strong>Ethereum</strong> <strong>Classic</strong> Documentation, Release 0.1<br />

<strong>Ethereum</strong> Virtual Machine (EVM). By following the detailed specification in the Yellow Paper, the <strong>Ethereum</strong><br />

client has been implemented in seven programming languages (C++, Go, Python, Java, JavaScript, Haskell, Rust),<br />

and has resulted in better software overall.<br />

• <strong>Ethereum</strong> launches Cryptocurrency 2.0 network - Coindesk article of 2014 Jan on the beginnings<br />

• <strong>Ethereum</strong> announcement on bitcointalk Vitalik’s original announcement to the bitcoin community. Forum<br />

thread with 5000 replies.<br />

The <strong>Ethereum</strong> Foundation and the ether presale<br />

In addition to developing the software for <strong>Ethereum</strong>, the ability to launch a new cryptocurrency and blockchain<br />

requires a massive bootstrapping effort in order to assemble the resources needed to get it up and running. To<br />

kickstart a large network of developers, miners, investors, and other stakeholders, <strong>Ethereum</strong> announced its plan to<br />

conduct a presale of ether tokens, the currency unit of <strong>Ethereum</strong>. The legal and financial complexities of raising<br />

funds through a presale led to the creation of several legal entities, including the <strong>Ethereum</strong> Foundation (Stiftung<br />

<strong>Ethereum</strong>) established June 2014 in Zug, Switzerland.<br />

Beginning in July 2014, <strong>Ethereum</strong> distributed the initial allocation of ether via a 42-day public ether presale,<br />

netting 31,591 bitcoins, worth $18,439,086 at that time, in exchange for about 60,102,216 ether. The results of the<br />

sale were initially used to pay back mounting legal debts and also for the months of developer effort that had yet<br />

to be compensated, and to finance the ongoing development of the <strong>Ethereum</strong>.<br />

• Launching the ether sale - original official announcement on the <strong>Ethereum</strong> blog<br />

• Concise information-rich stats page about the presale by (since then inactive) Ether.Fund<br />

• Overview: <strong>Ethereum</strong>’s initial public sale - Blogpost by slacknation - all stats about the ether presale<br />

• Terms and Conditions of the Presale<br />

ETH/DEV and <strong>Ethereum</strong> development<br />

Following the successful ether presale, <strong>Ethereum</strong> development was formalized under a non-for-profit organization<br />

called ETH DEV, which manages the development of <strong>Ethereum</strong> under contract from <strong>Ethereum</strong> Suisse – with<br />

Vitalik Buterin, Gavin Wood, and Jeffrey Wilcke as the 3 directors of the organization. Developer interest in<br />

<strong>Ethereum</strong> grew steadily throughout 2014 and the ETH DEV team delivered a series of proof-of-concept (PoC)<br />

releases for the development community to evaluate. Frequent posts by ETH DEV team on the the <strong>Ethereum</strong> blog<br />

also kept the excitement and momentum around <strong>Ethereum</strong> going. Increasing traffic and growing user-base on both<br />

the <strong>Ethereum</strong> forum and the ethereum subreddit testified that the platform is attracting a fast-growing and devoted<br />

developer community. This trend has been continuing to this very day.<br />

DEVCON-0<br />

In November 2014, ETH DEV organized the DEVCON-0 event, which brought together <strong>Ethereum</strong> developers<br />

from around the world to Berlin to meet and discuss a diverse range of <strong>Ethereum</strong> technology topics. Several of the<br />

presentations and sessions at DEVcon-0 would later drive important initiatives to make <strong>Ethereum</strong> more reliable,<br />

more secure, and more scalable. Overall, the event galvanized developers as they continued to work towards the<br />

launch of <strong>Ethereum</strong>.<br />

• DEVCON-0 talks youtube playlist<br />

• DEVCON-0 reddit post<br />

• Gav’s DEV update mentioning DEVCON-0<br />

• DEVcon-0 recap blog post<br />

1.1. Introduction 9

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