The Second Most Important Cryptocurrency Ethereum Turns 6 Years Old
On July 30, 2015, the world first learned about the Ethereum blockchain project. During this time, its exchange value has increased by 234,200%.
The distinctive feature of Vitalik Buterin and Co.'s brainchild is the ability to deploy decentralized applications and smart contracts. At the same time, the description of the project appeared two years before the launch, in 2013.
Ethereum has more advantages in practical application compared to bitcoin. The network allows complex asset verification routes, creation of tokens based on material executions, decentralized exchanges and authentication systems (NFT).
Last year was about rethinking of DeFi, or decentralized finance. The system blocked $66.4 billion in funds in its accounts. In early 2021, the NFT token boom began.
On August 4, the network expects a major upgrade in London. It will be another stepping stone to the transition to the Ethereum 2.0 ecosystem. It is planned that in this case, the network will move to Proof-of-Stake consensus mechanism, which will not need to mine (produce) the cryptocurrency, it will be automatically credited in proportion to the already existing coins.
The second-largest cryptocurrency celebrates its birthday with a value of USD 2,300 and a market capitalization of USD 273.5 billion.