Ethereum known as ETH performed well in the past. It became more popular because of important updates and big achievements. Let's look at its past success and things that made it popular:
Past Success
- Beginnings and Early Stages (2015-2017):
- 2015: Vitalik Buterin first thought of Ethereum in late 2013. The network was born on July 30 2015 when they started Frontier.
- 2016: After the DAO was hacked, Ethereum's community split into two. This made Ethereum (ETH) and Ethereum Classic (ETC). ETH kept getting more popular despite that.
- 2017: Ethereum's value shot up a ton. It began at around $8 and soared past $800 at the year's end. This happened because of the ICO craze where lots of new projects used Ethereum's network.
- Ups and Downs (2018-2019):
In January 2018, Ethereum's value soared to about $1,400, its highest ever. But then the market took a big drop, and by the end of the year, ETH's price was under $150.
The year 2019 saw Ethereum's price stay more stable going up and down between $100 and $300. Ethereum got better during this time with new updates like Constantinople and Istanbul, which made it scale better and gave it more features.
For 2020 and 2021, talking about DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens): Right at the beginning of 2020, Ethereum was worth about $130, but with the DeFi craze, it ended the year over $700.
Then in 2021, Ethereum's price climbed even more hitting more than $4,000 in May all because of the big surge in DeFi and NFTs. Still, the network had some hiccups with high gas fees because so many people were using it.
4. Switching to Ethereum 2.0 (2022-Now):
- 2022: Ethereum kept working on moving to Ethereum 2.0 this year. Even though the market was shaky and there were big worries about the economy, this change is supposed to make Ethereum faster, safer, and use less energy. It's a big deal because it moves away from Proof of Work to Proof of Stake.
- 2023-Now: A huge event happened when Ethereum's main network and the Beacon Chain came together in September last year. Since then, ETH's price keeps changing a lot. The way the whole market goes and big economic stuff are making this happen.
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- Smart Agreements and Uncentralized Apps:
- Ethereum brought out a new idea with smart agreements making it possible for coders to create uncentralized apps (Uncentralized Apps) on its block list. This big change made Ethereum different from Bitcoin and pulled in many projects and coders.
- First Token Sales:
- Many people joined Ethereum's first token sales in 2017 because it was a good place for new works to get cash with token sales. This made more people see Ethereum and use it more.
- Finance Without Centers and Unique Tokens:
- A big bump in Ethereum's use came from the growth of finance without centers and markets for unique tokens. Systems like Uniswap, Compound, and OpenSea all use Ethereum and help these growing parts a lot.
- Group of Coders and Its World:
- The Ethereum community is one of the biggest and busiest groups of developers working on blockchain technology. They are always building new things and making changes, like moving to Ethereum 2.0, which puts them ahead in creating new ideas.
- The interest from big organizations and their money in Ethereum is growing with the new Ethereum-based financial stuff, which makes it more popular and trusted.
- To fix problems with how many transactions Ethereum can handle, people have come up with Layer 2 answers like Optimistic Rollups and zk-Rollups. These make Ethereum better at managing lots of transactions .
Rewritten content:
Ethereum saw lots of ups and downs over time. It grew a lot but also had many price changes. This matches how it got better and what happened in the crypto world. People like it because it was the first of its kind, has loads of smart developers, and always comes up with new things. Ethereum is a big deal in blockchain and digital money.
