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In 2016, a decentralized autonomous group referred to as The DAO—a set of smart contracts developed on the platform—raised a record US$150 million in a crowd sale to fund the project. On 30 July 2015, “Frontier” marked the official launch of the Ethereum platform, and Ethereum created its “genesis block”. Several codenamed prototypes of Ethereum had been developed over 18 months in 2014 and 2015 by the Ethereum Foundation as a half of their proof-of-concept series. Formal growth of the software program underlying Ethereum began in early 2014 by way of a Swiss company, Ethereum Switzerland GmbH (EthSuisse).The thought of placing executable smart contracts within the blockchain needed to be specified earlier than it could possibly be applied in software program. Nonetheless, after failing to achieve agreement on how the project should proceed, he proposed the development of a model new platform with a extra strong scripting language—a Turing-complete programming language—that would eventually become Ethereum.
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