History of Ethereum

Ethereum came to life in 2013 under the hands of several programmers by the names of Vitalik Buterin, Gavin Woods, and Charles Hoskison amongst other.

In 2014, Ethereum got crowdfunded and raised 16 million dollars’ worth of bitcoin and the network went live in 2015. Ethereum was the first platform that allowed the use of decentralized applications which paved the way to decentralized finance. To add, Ethereum allowed the birth of DeFi, DApps, and NFTs.

Decentralized applications or DApps for short are applications that exist and operate on the blockchain or peer-to-peer networks instead of merely existing solely on your computer or phone. These applications usually don’t operate under a single form of authority and are built on the Ethereum platform where they can be developed to fit several purposes like gaming and communication to name a few.

Ethereum started out with a coin price of 0.31$ and reached an all-time high of 4,878$. On the level of mining, Ethereum mining was considered as one of the most lucrative ventures in the world of mining.

Finally, what about the difference between Bitcoin and Ethereum? Well bitcoin is considered as a store of value whereas Ethereum is considered the gateway that introduced decentralized applications and smart contracts amongst other things.

This was a rundown of Ethereum’s past. See you in the next rundown!