Ethereum Celebrates 8th Anniversary – Crypto Twitter Reacts to The Role The Project Played in The Industry

• Ethereum is turning 8 since the Ethereum Foundation launched the network.
• Binance CEO Changpeng Zhao has remarked on Twitter, sharing a story about his time with Ethereum’s co-founder, Vitalik Buterin.

The crypto community has united in celebration of the Ethereum network’s 8th anniversary, commemorating eight years since the Ethereum Foundation launched the network.

On July 30, 2015, Stephan Tual, the former CCO of the Ethereum Foundation, expressed his admiration in a  blog post on the milestone the network has covered and the transformation it entangled with it. In the blog post, he said:

The vision of a censorship-proof ‘world computer’ that anyone can program, paying exclusively for what they use and nothing more, is now a reality.

After eight years, Ethereum and its native cryptocurrency Ether have experienced significant growth, becoming the second-largest cryptocurrency globally, with a market capitalization of $225 billion and an Impressive thriving community of over 1,900 developers actively contributing to the platform monthly.

Ethereum’s 8 Years of Progress

To celebrate the event, community members shared nostalgic moments and reflected on Ethereum’s journey since its inception, including its historical prices, development milestones, and overall expansion.

According to Bankless co-host Ryan Sean Adams, Ethereum’s remarkable achievements include an astounding secured value of $400 billion, resulting in annualized profits of $3.6 billion. Moreover, the Ethereum blockchain currently comprises an extensive collection of 17.8 million blocks, holding a diverse array of digital assets within its ecosystem.

Happy birthday Ethereum! 🎂

$400 billion in secured value, $3.6 billion in annualized profits, and a total of 17.8 million blocks of uncensorable digital property.

Not bad for an 8 year old.

— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) July 30, 2023

Seizing the occasion of Ethereum’s birthday as a chance to indulge in nostalgia, Binance CEO Changpeng Zhao on Twitter shared a story about his time with Ethereum’s co-founder, Vitalik Buterin. He recounted the period when Vitalik stayed in Tokyo with him months before the Ethereum launch.

On this 8th birthday of #Ethereum, a little throw back to May 2, 2015, in Tokyo🇯🇵, just before #ETH was officially born. @VitalikButerin stayed in my apartment in Tokyo during this trip. He was already working on and talking about ETH non-stop. And I still missed (didn’t buy)… pic.twitter.com/84B6KN73Qf

— CZ 🔶 Binance (@cz_binance) July 30, 2023

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CZ mentioned that during that time, Buterin was constantly talking about ETH, and he humorously lamented missing the opportunity to purchase Ethereum during its early days. He playfully remarked, “Had I invested in ETH back then, I might not have felt the urge or motivation to create Binance. Who knows?“

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Udi Wertheimer, a former Bitcoin enthusiast who has reformed his views, joined the celebration with a touch of humor, playfully referring to the Ethereum network as his “favorite Bitcoin sidechain.”

Happy birthday Ethereum!

My favorite bitcoin sidechain 🧡

— Udi Wertheimer (@udiWertheimer) July 30, 2023

Ethereum’s creation was the outcome of a collaborative effort involving several notable figures, most notably Vitalik Buterin, Charles Hoskinson, Gavin Wood, Joseph Lubin, and Anthony Di Iorio. By providing a platform for developers to design smart contracts and create innovative blockchain applications, Ethereum played a crucial role in fueling the initial coin offering boom during late 2017. 

Moreover, it played a significant part in the explosive growth of decentralized finance (DeFi) protocols and development, known as “DeFi summer” in 2020.

Ethereum’s Journey: From Inception to Unstoppable Progress

Upon its introduction, Ethereum entered the scene six years after the inception of Bitcoin (BTC), the pioneering blockchain in the cryptocurrency space. Bitcoin solely served as a payment network for simple monetary transactions which brought the need for a more diverse blockchain. The primary objective behind the launch of Ethereum was to unlock and realize the full potential of blockchain technology.

Ethereum revolutionized the crypto community by being the first blockchain to support smart contracts, paving the way for various use cases that are widely appreciated today. These encompass decentralized finance (DeFi), non-fungible tokens (NFTs), Web 3, and tokenization.

Since its inception, Ethereum has continuously surged forward. According to data from OkLink, the total number of transactions on the Ethereum network has surpassed 2.05 billion Txns. The number of currency-holding addresses has reached 66.12 million, with a total circulation of 47.22 million. 

Ethereum’s foundation and innovations in the smart-contract space have inspired platforms like Solana, Avalanche, Binance Smart Chain (BSC), Tezos, and Algorand. These projects have drawn upon Ethereum’s success and advancements to build their smart-contract blockchains.

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