Ethereum sales start | Ethereum Foundation Blog

First of all, I would like to thank the community, especially those close to the project who have been extremely patient with the launch of the Ether sale and, in many cases, have given up their work and dedicated their time. We’ve been promising for six months that we would sell in two weeks, and the anticipation of when we would be able to raise the funds was causing significant challenges for many of our team members. We clearly miscalculated the enormous difficulty of navigating the relevant legal proceedings in the United States and Switzerland, as well as the incredibly complex technical issues surrounding setting up a secure sales website and cold wallet system. But the long wait is finally over, and we’re happy to announce that it’s now available for sale.

Over the intervening six months we have spent time on:

• By developing an Ethereum client, we currently have four complete protocol implementations, two of which are fully compatible and the other two are nearly compatible. The original intention was for only three implementations. However, a community member (Roman Mandeleil) independently published a functional Java client. PoC5 was released today.
• We develop the Ethereum programming language and compiler to the point where we have reasonably stable versions of Serpent, LLL, and Mutan.
• Ethereum protocol development. Key changes between February and June include:
  
  • A transaction-computation fee payment system that specifies the amount of “gas” a transaction can consume and pays a fee for that upfront. The original contract paid a computational fee, and every contract had to have a security “wrapper” that required a minimum fee to avoid out-of-balance attacks.
  • The concept of a recursive virtual machine where a contract can “call” another contract, such as a function, and receive a “return value” in response. This allows for a high level of generalization and code reuse across blockchains, reducing bloat.
  • Block time has been reduced from 60 seconds to 10-20 seconds. This will be added in PoC6.
  • A “microchain” concept in which the top-level block header contains only PoW-related information, reducing the minimum storage and bandwidth requirements for light nodes by a factor of 4 (although faster block times increase these requirements once again). This will be added in PoC6.
  • By placing transactions on a Merkle tree, a light client protocol can be developed to verify the execution of individual transactions.
  • By conceptualizing memory as a byte array, existing compilers can be easily ported to Ethereum script compilation.
  • Thanks mainly to the work of Vlad Zamfir, the mid-stage development of mining algorithms took place. More details will be released soon.

• We develop a growing repertoire of test facilities to ensure compatibility between clients.
• Establishing a legal organizational structure in Switzerland.
• Legal due diligence process in the United States.

Ether can be purchased directly through our website. https://ethereum.org. Development plan (DΞV plan), roadmap, Purpose of Use of Revenue Documents, Ethereum Genesis Sale Terms and Conditions, Ethereum product purchase contract, and updated blank and yellow paper. In particular, please note the following:

• Ether cannot be used or transferred. Until the Genesis block is released. This means that once you purchase Ethereum and download a wallet, you won’t be able to do anything with it until the genesis block is released.
• The price of Ether is initially set at a discounted price. 2000 ETH per BTCAnd it stays like this 14 days before decreasing linearly to the final rate. 1337 ETH per BTC. Sales will continue 42 daysEnds on September 2nd at 23:59 Zug time.
• The expected release times for the Genesis Block are as follows: Winter 2014-2015. This date has continued to be pushed back due to funding delays, but development will soon begin to progress much more quickly.
• Ether is a product. It is not a security or investment product.. Ether is simply a token useful for paying transaction fees on the Ethereum platform or for building or purchasing decentralized application services. This does not give you the right to vote on anything and we do not guarantee its future value.
• After all, we are not stopping America. yes.
• It is very likely that alternative versions of Ethereum (“alt-etherea” or “forks”) will be released as separate blockchains, and these chains will compete with official Ethereum for value. Successfully purchasing ETH from the Genesis Sale only guarantees that you will receive your ETH from the official network and not from a fork.
• The Ethereum Genesis Terms of Sale and Ether Product Purchase Agreement are the only authoritative documents relating to the sale. All statements we have made so far are invalid. The ethereum.org website, Taylor Gerring’s recent how-to blog post, and other posts on various forums, including our forums and Reddit, are informal communications designed to keep the community up to date on what’s happening on Ethereum. treated.
• The annual issuance rate is 0.26 times The initial quantity of Ether sold was reduced from 0.50x proposed in January. Future patches may result in lower issuance rates as we may later choose to adopt alternative consensus strategies, such as hybrid proof-of-stake. However, we do not make any promises regarding this, except that the annual issuance rate of the amount of Ether sold in the Genesis Sale will not exceed 26.00%.
• there is Two donation pools, 0.099x each The initial quantity of Ether sold will be allocated to early contributors to the project in the first case and to long-term donations to a non-profit foundation in the second (see sales documentation for details). This was reduced from the April proposal to 0.075x for early contributors and 0.225x for foundations.
• We reserve the right to use up to 5000 BTC in the pre-sale while the pre-sale is ongoing to speed up development. Depending on the community’s response, we may or may not choose this option. If completed, it will be handled transparently.
• You will be contacted shortly if you are eligible to receive a backpayment or a share of the early contributor pool.
• Don’t refresh the page While using an ether sales website
• When you purchase ether, Don’t lose your wallet file or password. Otherwise, you will not be able to access Ethereum. Also check the following: Download the wallet first of all.

The departure address is 36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2; but, Please do not send BTC directly to this address., as incorrectly formatted transactions will not be valid and will be treated as futures to Ethereum Switzerland GmbH. Please use the website sales application. However, unlike other projects, you will have no problem paying with BTC using the selling application on your Coinbase account or exchange account. The sending BTC address doesn’t matter.

For advanced users or those who are uncomfortable purchasing through the website, Python libraries are also available for purchase at: https://github.com/ethereum/pyethsaletool.

The address is a 3/4 cold storage, multi-signature setup between 4 centers that is itself protected through mechanisms such as m-of-n Shamir’s secret sharing. check This transaction from Blockchain.info, enter 4 to see evidence that funds can be spent at that address. Strategically important variables (such as the exact location of the site, passwords, vault combinations, etc.) are unfortunately kept secret, but we will be releasing a detailed description of our cold storage policy soon.

More information will be revealed during the sale, and we’ll be hosting an AMA on Reddit soon. We look forward to continuing this exciting journey together!