Ethereum Timeline: A Brief History from 2013-18

  • 9 minutes

Vitalik Buterin had worked on various Bitcoin projects before a 19 years old programmer from Toronto thought of Ethereum. The platform was ideally developed for robust blockchain applications.

Since Vitalik worked on Bitcoin blockchain projects, he faced number of issues while working.

Bitcoin blockchain initially perceived as a medium for financial transactions / applications but Vitalik realized blockchain can perform more than just transactional computations.

Image result for ethereum blockchain

Vitalik got introduced with the Bitcoin and blockchain technology right in the year of its launch i.e. 2011. He started a Bitcoin Magazine the very same year. Through this magazine, he shared his views on digital future. Later, he worked on Mastercoin and other alternate coins with Bitcoin codebase. This work was a pushing factor for him as he knew the scope of Bitcoin is limited.

Ethereum Whitepaper 2013

A whitepaper of Ethereum launched in 2013 illustrating the new protocol of decentralized applications.

The key difference between Bitcoin and Ethereum was the platform’s ability in trading more than just a cryptocurrency.

Official Announcement in 2014

An official announcement of Ethereum had made. Also the team expanded. Along with Vitalik, Dr. Gavin Wood and Joseph Lubin were developing the blockchain platform.

Ethereum yellow paper released by Wood which showcased how Ethereum Virtual Machine (EVM) will execute smart contracts. Lubin on the other hand, founded Consensys, a studio for decentralized apps.

Ether Crowdsale 2014

In July 2014, Ethereum Foundation conducted a crowdsale where they sold 60 million of their tokens. For expansion, development and marketing activities, the foundation created 12 million Ether tokens.

First Live Release of Ethereum 2015

Frontier was the first live release or a product of the network which helped developers interact and develop apps over the network in 2015.

Hence, Vitalik thinks Ethereum is the solution of all problems or use cases of blockchain.

50$ Million Ether Stolen 2016

An anonymous hacker had stolen about $50 million Ether from Ethereum network which placed a question mark on its security. The incident caused a split in Ethereum community. Now there are two blockchain factions i.e. Ethereum (ETH) and Ethereum Classic (ETC).

Ethereum Growth in 2017

The network grew 13000 times in 2017 which attracted investors but the volatility of this platform makes investors think twice or stay cautious.

Present - 2018

The infrastructure of the Ethereum is much better from its infancy state. Still the platform is young and has limitless potential within. Recently it has topped $2.2 billion in circulation and moved from 12th to 10th place in top 10 cryptocurrencies.

Please wait...

Don't miss out latest updates

Sign up today for free and be the first to receive notifications of our upcoming updates.