Ethereum was proposed in 2013 by Vitalik Buterin, a Russian-Canadian programmer. Buterin believed that the Bitcoin blockchain is limited to financial applications and has more potential. He came up with the idea of ​​a multipurpose platform that can run smart contracts and decentralized applications. With the collaboration of Mihai Alessi, Anthony DiLorio, Charles Hoskinson and others, Ethereum was introduced as a crowdfunding project in 2014, and in July 2015 it released its first version called "Frontier".