July 31, 2023

Crypto Community Celebrates Ethereum’s 8th Birthday



The crypto community celebrates Ethereum’s 8th birthday, marking eight years since the Ethereum Foundation launched its network.

In 2015, former Ethereum Foundation CCO Stephan Tual published a blog, announcing the rollout of the network. After eight years, Ethereum became the second largest cryptocurrency following Bitcoin with a value of $1,865 at the time of writing. Ethereum’s market capitalization exceeded $225.8 billion with more than 1,900 monthly active developers, according to CoinMarketCap.

Ethereum was co-founded by prominent figures such as Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.

Founder of Mythos Capital Ryan Sean Adams tweeted that Ethereum has a secured value of $400 billion, $3.6 billion in annualized profits, and a total of 17.8 million blocks of uncensorable digital property.

Also, Binance CEO Changpeng Zhao posted a tweet on X recalling the time that Buterin stayed with him in Tokyo in the months leading up to the launch of Ethereum, saying: “But then again, if I had bought ETH then, I might not have had the need or drive to start Binance. Who knows?”

Ethereum has credit for the boom made by the decentralized apps in 2017 and the explosion of decentralized finance (DeFi) protocols and development in 2020. In addition, Ethereum gave the opportunity for NFTs to flourish.

It is worth mentioning that Forex Suggest said in its report that Ethereum recorded a significant reduction in CO2 emissions, amounting to 8,824 tons in 2022, compared to 21.95 million tons in 2021.

This massive decline in emissions is attributed to the Merge move, done by the blockchain to reduce energy consumption by 99%.

In Forex Suggest’s 2021 report, Ethereum was the second-most polluting cryptocurrency. Nevertheless, in 2022, it came behind Litecoin, Polygon, and Cardano in terms of CO2 emissions.

Tags :
Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.