When was Ethereum (ETH) issued? Learn about the origin of Ethereum (ETH) in one article

Ethereum, conceived by Vitalik Buterin in 2013, was initially launched in 2015 and has since undergone several upgrades, including Metropolis and Istanbul, with Ethereum 2.0 currently in progress.

Oct 01, 2024 at 02:29 pm

Ethereum (ETH): Origin and History

1. Inception

• Conception: The idea for Ethereum was first conceived by Vitalik Buterin in 2013.
• Pre-sale: In July 2014, a pre-sale was held for Ethereum, raising 3,700 Bitcoin (equivalent to $18.4 million).

2. Launch

• Frontier Launch: The initial version of Ethereum, known as Frontier, was launched on July 30, 2015.
• Homestead Launch: The Homestead upgrade, which introduced significant improvements, was released on March 14, 2016.

3. Further Development

• Metropolis Upgrade: The Metropolis upgrade was split into two phases:

  • Byzantium: Released on October 16, 2017
  • Constantinople: Released on February 28, 2019
• Istanbul Upgrade: Released on October 28, 2019

4. Ethereum 2.0

• Conception: Ethereum 2.0, also known as "Serenity," was introduced in 2018.

• Upgrades: Ethereum 2.0 introduces several upgrades, including:

  • Proof-of-Stake consensus mechanism
  • Sharding technology
• Timeline: The transition to Ethereum 2.0 is an ongoing process, with different phases being implemented over time.

5. Current State

• Market Position: Ethereum is currently the second-largest cryptocurrency by market capitalization.

• Utility: Ethereum is used for various purposes, including:

  • Smart contracts
  • Decentralized applications (dApps)
  • Decentralized finance (DeFi)
• Future Prospects: Ethereum is expected to continue playing a significant role in the blockchain and cryptocurrency ecosystem.