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Ethereum: A Next-Generation Smart Contract and Decentralized Application Platform

Buterin’s whitepaper proposes Ethereum as a generalized platform for decentralized applications by introducing an internal Turing-complete programming language.

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Abstract

Buterin’s whitepaper proposes Ethereum as a generalized platform for decentralized applications by introducing an internal Turing-complete programming language. Moving beyond the static value transfer model of Bitcoin, Ethereum implements smart contracts—self-executing code stored on the blockchain that allows for the creation of complex automated agreements. The paper outlines the Ethereum Virtual Machine (EVM) architecture, which facilitates the execution of scripts across a distributed network of nodes. This transition from a single-purpose currency network to a multipurpose computing platform enabled the rise of decentralized finance, autonomous organizations, and programmable assets, marking a significant evolution in Web3 infrastructure. Authors: Vitalik Buterin Publication: Project Whitepaper Publication date: 2013-01-01

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Key findings

  • Proposed a Turing-complete virtual machine for smart contract execution.
  • Transitioned blockchain utility from currency transfer to state-based computation.
  • Introduced the concept of the Ethereum Virtual Machine (EVM).
  • Enabled the creation of decentralized autonomous organizations and programmable assets.

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Citation

Vitalik Buterin (2013). Ethereum: A Next-Generation Smart Contract and Decentralized Application Platform. Project Whitepaper. https://ethereum.org/en/whitepaper/
Canonical knowledge ID: research:ethereum-a-next-generation-smart-contract-and-decentralized-application-platform