Ethereum, an open-source blockchain system, operates as a decentralized platform with its native cryptocurrency called Ether (ETH). This blockchain facilitates the execution of decentralized smart contracts and serves as a foundation for numerous other cryptocurrencies.

The concept of Ethereum was initially presented in a 2013 whitepaper by Vitalik Buterin. In the summer of 2014, Buterin and a team of co-founders successfully obtained funding for the project through an online public crowd sale. This campaign raised $18.3 million in Bitcoin, with over 60 million Ether sold at an initial coin offering (ICO) price of $0.311. Considering the current value of Ethereum, this translates to an impressive annualized return on investment (ROI) of over 270%, effectively multiplying one’s investment nearly fourfold each year since the summer of 2014.

On July 30, 2015, the Ethereum Foundation officially launched the blockchain under the prototype codenamed “Frontier.” Since then, the network has undergone several updates, including “Constantinople” on February 28, 2019, “Istanbul” on December 8, 2019, “Muir Glacier” on January 2, 2020, “Berlin” on April 14, 2021, and most recently, the “London” hard fork on August 5, 2021.

Ethereum aims to establish itself as a global platform for decentralized applications, enabling users worldwide to create and operate software that is resistant to censorship, downtime, and fraud. Its vision revolves around fostering a decentralized ecosystem that empowers individuals to engage in secure and censorship-resistant transactions and interactions.

January 30, 2024

Vitalik Buterin Explores Advantages and Drawbacks of Integrating AI with Cryptocurrency

Vitalik Buterin, the Co-Founder of Ethereum (ETH), recently delved into the intricacies of the fusion between the crypto industry and artificial intelligence (AI). In a recent […]