Amazon Quiz: Which blockchain technology platform was conceived by programmer Vitalik Buterin?

The options are:





The correct answer is: Ethereum

Ethereum is a decentralized, open-source blockchain and is the second only to Bitcoin in market capitalization. It was birthed by programmer Vitalik Buterin in 2013. A development work started in 2014 and was crowdfunded. Following this, the network went live in 2015.

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Ethereum allows you to deploy permanent and immutable decentralized applications onto it. Decentralized finance (DeFi) applications give a broad array of financial services such as brokerages, exchanges, or banks. It also allows cryptocurrency users to borrow against their holdings or lend them out for interest.

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The platform also gives space for the birthing and exchange of NFTs, which are non-interchangeable tokens. NFTs are linked to digital works of art or other real-world items. It is often sold as unique digital property.

Apart from this, other cryptocurrencies operate as ERC-20 tokens on top of the Ethereum blockchain. They have utilized the platform for initial coin offerings.

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The platform started implementing a series of upgrades called Ethereum 2.0. It also includes a transition to proof of stake and seeks to amplify transactions by using sharding.

What are NFTs? Ethereum allows the creation of unique and indivisible tokens that are called non-fungible tokens. Since tokens are unique, they are used to represent things such as collectibles, digital art, sports memorabilia, virtual real estate.

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The first NFT project, Etheria, was deployed in October 2015 and demonstrated live at DEVCON1 in November of that year.