He is a co-creator and inventor of Ethereum, described as a “decentralised mining network and software development platform rolled into one” that facilitates the creation of new cryptocurrencies and programs that share a single blockchain (a cryptographic transaction ledger). Ethereum was first described in Buterin's white paper, in late 2013. Buterin argued that bitcoin needed a scripting language for application development. But when he failed to gain agreement, he proposed development of a new platform with a more general scripting language. About the Ethereum Project, Buterin has said: "I am truly grateful to have the opportunity to work in such an interesting and interdisciplinary area of industry, where I have the chance to interact with cryptographers, mathematicians and economists prominent in their fields, to help build software and tools that already affect tens of thousands of people around the world, and to work on advanced problems in computer science, economics and philosophy every week."