Ethereum history

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The history of Ethereum

Ethereum is the second most capitalized cryptocurrency in the world. In 2013, Vitalik Buterin created it, and it has remained at the top of the cryptocurrency for many years.

Ethereum creation[edit]

Vitalik Buterin - the creator of Ethereum

Vitalik Buterin described Ethereum in the white paper in 2013, where he called the creation of decentralized applications as the main goal. Buterin chose the name while sitting on Wikipedia. He found the word “ether”, referring to a hypothetical invisible medium that permeates the universe and allows light to travel, and decided that this word is best suited for the name of its cryptocurrency.

2013[edit]

In November 2013, a programmer from Canada, the author of articles on the Bitcoin Magazine blog, Vitalik Buterin, released a white paper in which he described the idea of creating decentralized applications. Then he thought about a new, improved platform that could be built on the basis of Bitcoin. Buterin assembled a team (Gavin Wood, Jeffrey Wilk, Charles Hoskinson, Anthony Di Iorio, and others) and set to work.

2014[edit]

  • January 23. Buterin announced Ethereum in an article titled ‘Ethereum: now going public’. In this article, he described his “new generation” platform, which at that time included cryptocurrency, smart contracts, a decentralized organization (DAO), and others. But Buterin said that the rate of the broadcast would be 1000-2000 ETH=1 BTC.
  • February 3. The details of the script description were published, as well as information about the commissions for the transaction.
  • July 22. Details about presale were published. According to the new information, the cost of the air during presale is 2000ETH for 1BTC in the first 14 days. Then the selling rate will change to 1337 ETH. Presale will last 42 days and will end on September 2. Pre-sale brought a team of 60,102,000 ETH, which at that time corresponded to $ 18,439,000 (31,591 BTC).
  • In December, the Ethereum team conducted DEVCON-0 in Berlin. At this event, Ethereum developers discussed Ethereum technologies, proposed the implementation of new ideas in the field of security and scaling, which were implemented and used in the system to this day.

2015[edit]

  • January 9. The results of a survey conducted by developers were published. It was attended by 286 people. The survey consisted of 1 general question (“What country are you a citizen of?”) And 14 statements with sampling and grading (“The financial side of Ethereum is transparent”, “The goals of Ethereuma are clear”, etc.). According to the results of the survey, the majority of respondents were from North America, they do not see any irregularities in the use of finance, and the majority favored the launch of a mobile application.
Vitalik Buterin Presents Cryptocurrency and Ethereum Platform
  • March 12. The developers announce the launch of Frontier, the original version of Ethereum.
  • July 30. The Ethereum Frontier network, a decentralized, distributed platform for developing decentralized applications, was launched, but management did not make any promises regarding platform security. This event is a milestone in the history of Ethereum. The developers immediately began working with smart contracts and creating decentralized applications in a real network. Users first began to extract air.
  • August 18. 100,000 blocks generated.
  • September 16. Announced a test version of the Ethereum wallet. The release of the official version is scheduled for a week or two later.
The second Devcon in London
  • November 9-13. Dates of Devcon - 1 in London. A discussion takes place at the conference. The first half of the week will be devoted to research and development, and the second half of the week to the social context. There was also a discussion of how Ethereum will develop after the launch of the platform, as well as the future activities of the foundation as an organization. The conference was attended by representatives of Microsoft, UBS, IBM, and the speaker was Nick Szabo.

2016[edit]

  • March 14th. Homestead is the first “stable” release of Ethereum, which occurred at a block of 1,150,000. At that time, the Ethereum development of the blockchain was officially called “safe”. The release included several protocol and network changes that made future updates possible. This and all subsequent updates are hard forks of the network, which means that the blockchain from now on is incompatible with pre-layout.
  • May. The decentralized autonomous organization (DAO) used 7.9 million of ether, or about $ 132.7 million, then it was subjected to a destructive attack. Unknown hackers exploited vulnerabilities in the Ethereum system and stole about $ 50 million in ether equivalent from DAO. After the news about the attack, the cost of air has plummeted. Many media outlets covered this story, and Ethereum was under heavy pressure. A passionate debate led to the division of the community of Ethereum. In the end, there will be two separate networks: Ethereum and Ethereum Classic.
  • July 20. A hard fork of the Ethereum block 1,920,000 was held (on which the attack was made and the air was stolen).
  • September 22. The Ethereum network has undergone a dDoS attack. Developers announce that now Ledger Nano S supports Ethereum.
  • November 18. Hardfork of block 2,675,000 was held.

2017[edit]

  • By January 1, 2017, the cost of Ethereum was $ 8.05, and the market capitalization was $ 700 million.
  • February 23. eToro adds Ethereum to the listing.
  • March 12. 1 Ethereum token costs $ 20.
  • March 20. The cost of the token has increased 2 times, now it is $46. Daily trading volume is 450 million dollars.
  • May. AVATrade adds Ethereum to the listing with Dash and Ripple. The cost of ether comes to $ 100.
  • September 14th Developers announce hardfork block 1,700,000.
  • November 25. Devcon-3 videos and results published.

2018[edit]

The queue to enter Devcon IV
  • February 14. The Ethereum team announced the Go Ethereum: Iceberg client. In this version, all bugs were fixed and ± 170 new modifications were added. The cost of ether is $ 1000.
  • March 7. Grant results from the Ethereum Foundation were announced. The Ethereum project aims to support useful applications and smart contracts in the Ethereum blockchain. Grants received projects that best cope with scalability, utility, and security.
  • August. The course of the ether is ± 300 $.
  • October 30 - November 2. Devcon - 4 took place in Prague. The sponsors were OmiseGo, Celer Network. Kyber Network, Microsoft, MyEtherWallet, etc.

2019[edit]

  • January 2. Ethereum shifted from the second line of the top Ripple.
  • February 28. An upgrade called “Constantinople/St. Petersburg ”block is 7.280,000. After that, the average time spent by the blocks in the network fell to 12.5 seconds, while earlier this time was 21 seconds.
  • April 23. Vitalik Buterin proposed to increase the award of Proof-of-stake validators Ethereum.
  • April 26. 501,864 ETHs ($ 76.5 million at the current exchange rate) were withdrawn from the Bitfinex exchange. The reason remains unknown.

Ethereum price history[edit]

Date USD:1ETH BTC:1ETH
7 August 2015 2.83 0.001
13 March 2016 14.32 0.034
9 September 2016 11.54 0.018
6 January 2017 10.28 0.011
27 March 2017 52.63 0.051
7 May 2017 96.76 0.062
22 May 2017 186.89 0.084
18 June 2017 377.56 0.151
16 July 2017 179.12 0.087
29 November 2017 480.36 0.048
22 December 2017 812.54 0.052
14 January 2018 1377.72 0.095
23 February 2018 802.98 0.083
7 April 2018 379.64 0.055
6 May 2018 830.02 0.084
16 August 2018 284.74 0.045
2 December 2018 117.09 0.028
3 January 2019 154.5 0.039
29 April 2019 154.5 0.029

See Also on BitcoinWiki[edit]