🎉Today, @ethereum celebrates its 10th anniversary! Let's take a look back at some of the most significant moments in Ethereum's journey (2014 to July 2024).
✅ 2014: The Birth of #Ethereum
- Whitepaper Released: In late 2013, Vitalik Buterin releases the Ethereum whitepaper, proposing a platform for decentralized applications (dApps) using smart contracts.
- Crowdsale: Ethereum raises over $18 million in Bitcoin, marking one of the largest initial coin offerings (ICOs) ever.
✅ 2015: Ethereum Launch
- Frontier Release: Ethereum’s first live release, "Frontier," goes live on July 30, enabling developers to start building dApps and deploying smart contracts.
✅ 2016: The DAO and Ethereum Classic
- The DAO Hack: A vulnerability in The DAO results in the loss of $50 million worth of Ether.
- Hard Fork and Ethereum Classic: To recover the stolen funds, the Ethereum community votes for a hard fork in July 2016, creating two separate chains: Ethereum ($ETH) and Ethereum Classic (ETC), which continues on the original chain.
✅ 2017: The Rise of ICOs
- ICO Boom: Ethereum becomes the platform of choice for launching ICOs, with numerous projects raising billions of dollars through token sales.
- Metropolis Byzantium: The Byzantium upgrade, part of the Metropolis phase, goes live in October 2017, introducing several improvements to security, privacy, and scalability.
✅ 2018: Scaling Challenges
- @CryptoKitties: The popularity of CryptoKitties, a blockchain-based game, highlights Ethereum’s scalability issues as it significantly slows down the network in December 2017 and early 2018.
- Constantinople Upgrade: Originally scheduled for 2018, the Constantinople upgrade is delayed due to security vulnerabilities found during testing.
✅ 2019: Advancements and Delays
- Constantinople and St. Petersburg: The delayed Constantinople upgrade finally occurs in February 2019, along with the St. Petersburg upgrade, addressing security issues and optimizing the network.
- DeFi Growth: DeFi projects start gaining traction, leveraging Ethereum for smart contracts and dApps.
✅ 2020: DeFi Summer and Ethereum 2.0
- DeFi Summer: The summer of 2020 sees explosive growth in DeFi, with platforms like @Uniswap, @Compound, and @aave driving massive user engagement and network activity.
- Ethereum 2.0 Beacon Chain: The first phase of Ethereum 2.0 launches, introducing the transition to proof-of-stake (PoS). 🚀
✅2021: Network Upgrades and NFTs
- Berlin Upgrade: In April 2021, the Berlin upgrade goes live, optimizing gas costs and enhancing network security.
- EIP-1559 and London Upgrade: The London hard fork, implemented in August 2021, includes EIP-1559, which introduces a mechanism to burn a portion of transaction fees, aiming to make Ethereum's fee structure more predictable and reduce inflation.
- NFT Boom: Non-fungible tokens (NFTs) gain immense popularity, with Ethereum being the primary platform for NFT creation and transactions.
✅ 2022: The Merge , L2s and an updated Roadmap
- Ethereum 2.0: "The Merge" finally occurs in September 2022, transitioning Ethereum from PoW to PoS, significantly reducing energy consumption and laying the foundation for future scalability improvements.
- Layer 2 Solutions: Layer 2 scaling solutions like @Optimism, @arbitrum, and zk-Rollups gain traction, offering faster and cheaper transactions.
- In November 2022, @VitalikButerin shares an updated roadmap for Ethereum: https://t.co/Dq7OGjsGH0
✅2023: Shanghai Upgrade
- Shanghai Upgrade: Implemented in March 2023, this upgrade focuses on enabling stakers to withdraw their staked $ETH, providing liquidity and improving network functionality.
✅ 2024 : Restaking and EIP-4844
- Restaking: Introduces mechanisms for restaking, allowing stakers to secure multiple protocols simultaneously, led by @eigenlayer, @symbiotic, @Karak_Network.
- EIP-4844 (Proto-Danksharding): Implemented in May 2024, this upgrade enhances the scalability of the network, making it more efficient for data-heavy applications.
Here's to a decade of innovation and growth! 🎉🚀