Tomorrow, July 30, we celebrate an important birthday in the world of blockchains because 5 years ago, the blockchain Ethereum came true with the launch of the first version of the project.
We recall that even if the first version was released on this date, Frontier, the work and the foundations were laid much earlier, when the first information was written through the first commitment. It was Christmas Eve 2013.
Everyone knows that the founder of Ethereum is Vitalik Buterin, but few people know that behind the project there are also other people like Anthony Di Iorio, Charles Hoskinson, Mihai Alisie and Amir Chetrit.
Later, Joseph Lubin, Gavin Wood and Jeffrey Wilke They also joined the project.
Ethereum started the project thanks to a Swiss company called Ethereum Switzerland GmbH (EthSuisse). Gavin Wood described the operation of the EVM (Ethereum virtual machine), explained in the famous Yellow Paper.
At that time, the Ethereum Foundation and all development was financed through a ICO in the summer of 2014, where ETH was sold in exchange for Bitcoin (BTC).
In the first 2 weeks alone, Ethereum had already raised more than 25 thousand BTC and one of the largest transactions was 500 BTC, buying 1 million ETH.
At that time, 1 BTC was worth around $ 591, and therefore around $ 300,000. Those ETHs would now be worth around $ 240 million, offsetting the 500 BTC invested that would now be worth around $ 5 million.
In all these years there have been several blockchain updates to improve the protocol.
These are the most significant:
– July 30, 2015, Frontier launch;
– September 8, 2015, beginning of the Ice Age, on blockchain 200000;
– March 15, 2016, Homestead launched on block 1150000;
– July 20, 2016, The DAO issue generated Ethereum Classic in block 192000000;
– October 18, 2016, another problem this time related to network congestion, we are in block 2463000;
– November 23, 2016, we have Spurious Dragon at block 2675000;
– October 16, 2017, we have Byzantium, in block 4370000;
– February 28, 2019, we have Constantinople at block 728000000 which was later postponed due to a problem;
– December 8, 2019, it's time for Istanbul to block 9069000;
– On January 1, 2020, the Muir Glacier reached block 9200000.
The next updates will be on the PoS (Proof of Stake) to improve blockchain scalability and also to have lower costs.
Meanwhile, Ethereum has also become the benchmark for various projects and sectors, such as decentralized finance (DeFi), which is setting new records.