Ethereum Accepted Here PNG

Ethereum Accepted Here PNG

Ethereum is a system that was first introduced at the North American Bitcoin Conference by Ethereum founder Vitalik Buterin. Although it is generally seen as an altcoin, Ethereum is an innovative system that aims to develop blockchain technology and use it in more areas. After the Ethereum development process, it was released in July 2015 and quickly gained popularity.

In 2016, due to a software bug, hackers stole approximately $50 million (3.6 million ETH) from the DAO (Decentralized Autonomous Organization), a smart contract-operated venture fund. After this hack, the Ethereum blockchain was hard forked, rewinding the hack and moving on. In this process, the old chain continued its life as Ethereum Classic.

In 2017, the ERC-20 standard was created on the Ethereum blockchain, making it easier for developers to develop tokens compatible with applications. In 2017, MakerDao, the first decentralized finance application on Ethereum, launched and launched the DAI stable cryptocurrency. Also in the same year, ETH exceeded the level of $100 for the first time.

In 2018, platforms such as Compound and Uniswap were launched in the field of decentralized finance. ETH broke above $1000 for the first time in January 2018, then fell back below $100. With the popularity of DeFi in 2020, many applications have emerged on Ethereum. Ethereum has announced that it will launch the Beacon chain for ETH 2.0 migration in 2020. With Ethereum 2.0, it was planned to switch from the Proof of Work algorithm to the Proof of Stake algorithm. With the rise in the market after the Covid-19 epidemic in 2020, Ethereum rose to the level of 4500 dollars in 2021.