Ethereum Turns 5 Years Old Today

"Ethereum Turns 5 Years Old Today"

The Ethereum (ETH) network turns 5 today. Envisioned as a “decentralized world computer”, the network was launched on July 30, 2015 by Vitalik Buterin and several others who have achieved success in the industry, including Charles Hoskinson, Joseph Lubin and Gavin Wood.

Happy fifth birthday, @ethereum! 🎉

— Augur (@AugurProject) July 30, 2020

Now worth over $35 billion, Ethereum has become an indelible part of the market, a home to numerous assets built on top of it. It is also the bedrock of the DeFi space, with a majority of said platforms running their services on top of Ethereum.

Ethereum has grown rapidly since launch, with its smart contract capabilities showing developer that more could be done with blockchain technology. 

The scale of the influence of Ethereum is easily visible in the number of “Ethereum-killer” clones that have followed. EOS (EOS) and TRON (TRX) have seen modest success, but they still fall behind Ethereum in terms of adoption, dapps and general activity.

It’s not been all smooth sailing for Ethereum - the infamous DAO hack is the biggest stain in its history, but development challenges have also highlighted the reality of implementing revolutionary technologies. 

However, Ethereum looks to be on track for what is its biggest change in years, a series of upgrades including staking and sharding that will transform the network into ETH 2.0. The final testnet for Ethereum 2.0 will be launched on August 4. Announced last week, the tesnet will operate until November.

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-> Picture taken from Jayberrytech from Pexels
-> Picture taken from David McBee from Pexels