Vitalik Buterin: creator of Ethereum and his journey on-chain

Who he is and why his opinion matters

Vitalik Buterin is a programmer of Russian-Canadian descent who has gone down in history as the creator of Ethereum, one of the largest blockchains in the world. His work has radically changed the perception of what a distributed network can do. While Bitcoin was a revolution in the field of payments, Ethereum has opened the door for programmable decentralized applications.

Vitalik's influence extends far beyond technical solutions. His statements on the scalability of networks, crypto-economics, and decentralization regularly become the subject of heated discussions within the community. He was one of the founders of Bitcoin Magazine and remains an authoritative voice in discussions about the future of blockchain technologies.

From Childhood in Kolomna to First Encounter with Cryptocurrencies

Vitalik was born in 1994 in the Russian city of Kolomna. At the age of six, he moved to Canada with his family. From an early age, he showed exceptional abilities in mathematics and programming, which allowed him to enter a program for gifted children.

Later he attended the University of Waterloo, where he studied computer science in depth and worked with experts in cryptography, including Ian Goldberg. It was during his university years that his interest in decentralized systems crystallized.

During his studies, Vitalik was fascinated by the popular online game World of Warcraft. One event turned out to be pivotal: the developers removed a feature from the game that he liked. This feeling of helplessness in front of a centralized organization making unilateral decisions deeply shook him. It was then that his passion for decentralization was born — an idea that later became the foundation of Ethereum.

Meeting with Bitcoin and the Birth of a New Idea

In 2011, Vitalik first learned about Bitcoin. Initially, he was skeptical about the technology, but soon he was captivated by its decentralized architecture and potential to reshape financial systems. He began writing about Bitcoin and became a co-founder of Bitcoin Magazine — one of the first authoritative publications dedicated to the analysis of cryptocurrency technologies.

Through his journalistic activities and active participation in the crypto community, Vitalik not only learned the technical aspects of blockchain but also developed a holistic philosophy of this technology. He understood that Bitcoin solved the problem of peer-to-peer transactions without intermediaries, but he saw its limitations.

The scripting language of Bitcoin seemed too narrow for expressing complex logic. Vitalik began to develop a vision of a more flexible blockchain that could support general-purpose programming and allow developers to code arbitrary applications.

The Birth of Ethereum: Technical Manifesto and Launch

In 2013, at just 19 years old, Vitalik published the technical description of Ethereum. His goal was ambitious: to create a global decentralized computer. Unlike Bitcoin, which is focused on payments, Ethereum was designed to support a Turing-complete programming language.

This meant that developers would be able to write smart contracts — automatically executed agreements — and create decentralized applications that operate without central governance. Such architecture opened up limitless possibilities.

The official launch of Ethereum took place in July 2015 after a successful crowdfunding that raised around 18 million dollars in ETH. Along with Vitalik, co-founders Gavin Wood, Joseph Lubin, and Charles Hoskinson were involved in the creation of the early infrastructure. To coordinate development, the Ethereum Foundation was established — a non-profit organization in Switzerland.

Shortly after its launch, Ethereum attracted the attention of developers from around the world. Based on it, decentralized financial protocols (DeFi), non-fungible tokens (NFT), and decentralized autonomous organizations (DAO) started to emerge. Vitalik's vision shifted blockchain from narrowly focused payment networks to a universal platform for decentralized innovations.

Crises and Trials: The DAO and Its Consequences

One of the first serious crises in the history of Ethereum was related to The DAO — a decentralized venture fund built on the platform. The project raised over 150 million dollars in ETH, becoming one of the most ambitious undertakings of its time.

However, a vulnerability was found in the smart contract code that was exploited by attackers. They transferred about 3.6 million ETH ( approximately 50 million dollars at the then exchange rate ) to a subsidiary DAO. Vitalik proposed several solutions, including a soft fork to block the stolen funds.

After heated discussions, the Ethereum Foundation supported a hard fork to roll back transactions and return funds to investors. This decision divided the community:

• Ethereum (ETH): a blockchain where a rollback was implemented
• Ethereum Classic (ETC): the original immutable network that rejected the fork

The incident sparked important discussions about decentralized decision-making. It demonstrated that coded rules are insufficient, and human coordination sometimes plays a crucial role. Later, Vitalik reflected on this experience as a lesson in the imperfection of fully automated systems.

The Merge: transition to energy-efficient consensus

Ethereum initially operated with the Proof of Work consensus algorithm (PoW), like Bitcoin. However, the transition to a more sustainable and scalable Proof of Stake system (PoS) has always been part of Vitalik's long-term plan.

He actively participated in the development of this transitional period, co-authoring technical specifications, discussing the architecture of validators, and coordinating phased updates. Through blog posts, lectures, and community engagement, he helped explain the significance of this historical shift.

On September 15, 2022, Ethereum successfully completed The Merge — the official transition to PoS. The network's energy consumption decreased by more than 99%, marking an important milestone for the blockchain's sustainability and demonstrating the ability to scale without harming the environment.

The Evolution of the Role: From Daily Management to Strategic Vision

In April 2025, the Ethereum Foundation announced that Vitalik Buterin would gradually step back from day-to-day management of the network and crisis response. His main focus will shift to long-term research and innovation, while current tasks will be distributed among other key project participants.

This decision reflects the evolution of the project: a shift from reliance on a single vision to a more distributed model of leadership. Vitalik will return to the research that constitutes the essence of his original vision for Ethereum.

His blog and social media posts continue to generate influential discussions not only about the future of Ethereum but also about fundamental issues of digital infrastructure and decentralized ecosystems.

In addition to his technical contributions, Vitalik is known for his altruism. Over the years, he has donated millions to various initiatives: COVID-19 research, combating aging, and supporting open-source developments.

Criticism and debates regarding its influence

As a key figure in Ethereum, Vitalik is constantly under the watchful eye of the community. The main subject of debate is the scale of his influence.

Although Ethereum is positioned as a decentralized project, many participants believe that it remains heavily dependent on Vitalik's vision. Despite the lack of formal control over the network, his position can influence architectural decisions and the overall direction of development.

Vitalik himself acknowledged this problem and consciously distanced himself, allowing other leaders to play a more active role. However, his influence remains significant.

His experimental ideas — such as Soulbound Tokens (SBT) or initiatives for funding public projects — evoke mixed reactions. Some admire his vision, while others fear that Ethereum is losing focus by trying to cover too many directions at once.

At the same time, Vitalik is known for his openness to criticism. He rarely shies away from difficult questions and often uses criticism as an opportunity to improve the Ethereum ecosystem.

Final Assessment

Vitalik Buterin has left an indelible mark on the development of Ethereum and the entire blockchain industry. From technical innovations to public debates, his contributions have shaped the modern understanding of decentralized systems and their potential to transform digital infrastructure.