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Ethereum, the second most famous blockchain network, is raising its glass to commemorate eight transformative years in the crypto landscape. Its birthday presents an opportune moment for the crypto clan to rejoice in the achievements it has tallied since its launch on July 30, 2015.
This revolutionary blockchain platform, fondly referred to as a “world computer”, has far exceeded its initial vision. Stephan Tual, Ethereum Foundation's former Chief Communications Officer, was the one to proudly announce Ethereum's birth to the world. He spoke of a future where a censor-resistant platform could be programmed by anyone, ensuring fairness in usage.
Fast forward eight years, Ethereum now proudly stands as the second-largest cryptocurrency, with its native currency, Ether (ETH), showcasing a staggering market capitalization of $225 billion. The number of devoted monthly developers exceeds 1,900, indicating the thriving and growing community Ethereum has fostered.
Ethereum's birthday did not pass unnoticed by its vibrant community, who shared stories, statistics, and nostalgic recollections of its journey. Ryan Sean Adams, a Bankless co-host, brought attention to Ethereum's impressive portfolio – safeguarding $400 billion in value, boasting $3.6 billion in yearly profits, and hosting a whopping 17.8 million blocks of digital assets.
In the spirit of reminiscence, Binance CEO Changpeng Zhao tweeted about a cherished memory of the days before Ethereum's launch, when co-founder Vitalik Buterin lived with him in Tokyo. He amusedly lamented missing the chance to invest early in Ethereum, hinting that it might have eliminated the necessity of creating Binance.
Its innovative introduction of smart contracts and an accessible platform for blockchain-based applications sparked the initial coin offering (ICO) surge in late 2017 and the DeFi revolution in 2020.
Ethereum's most recent feather in its cap was the successful Merge upgrade in September 2022. It transitioned the network from a proof-of-work to a proof-of-stake consensus mechanism, reducing energy consumption and unlocking rewards for stakeholders and investors.
