Ethereum Blockchain Celebrating the Fifth Anniversary

Kataryna Kovtun July 30, 2020


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Ethereum Blockchain Celebrating the Fifth Anniversary Today

Today, July 30, the crypto community celebrates an important birthday in the world of blockchains — 5 years ago, that is, in 2015, the first working version of the Ethereum Frontier project was launched. However, the foundations of the blockchain were laid long before that, namely on Christmas Eve 2013.

Ethereum Founders

It is widely known that the founder of Ethereum is Vitalik Buterin, but few people know that other people are behind this project: Anthony Di Iorio, Charles Hoskinson, Mihai Alisi, and Amir Chetrit. Joseph Lubin, Gavin Wood, and Jeffrey Wilk later joined the project.

The Ethereum team was founded by the Swiss company Ethereum Switzerland GmbH (EthSuisse), at the same time Gavin Wood described the work of the EVM (Ethereum virtual machine), which was included in the well-known “Yellow Pages”.

ICO Ethereum Blockchain

Around the same time, the Ethereum Foundation was created, and all development was funded through an ICO launched in the summer of 2014. Interestingly, ETH was traded in exchange for bitcoins (BTC).

In the first 2 weeks alone, the Ethereum crowdfunding campaign collected more than 25 thousand BTC, the largest purchase was the acquisition of 1 million ETH for 500 BTC.

At that time, 1 BTC cost about $ 591, respectively, in dollars it turned out about $ 300,000. These ETH are now worth around $ 240 million, offsetting the initial investment, which is currently valued at $ 5.6 million at a BTC price of $ 11,200.

Ethereum Updates

Over the years of the project’s existence, several updates have been made to improve the protocol, also, there were other significant events:

  • July 30, 2015 — Frontier release;

Berlin’s next update will be the last before moving to Proof-of-Stake (PoS), which will increase blockchain scalability and lower costs.

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