The 10th episode of our "Unwrapped" series @BMXDeFi CELEBRATES 10-years of @ethereum ❤️
What an incredible journey it has been...
📺 Unwrapped Ep. 10: Celebrating 10 Years of Ethereum (Highlights Version)
We're celebrating 10 years of Ethereum with a special deep dive into its incredible journey of scaling, innovation, and resilience.
From a bold idea to a cornerstone of the crypto world, here's a summary of what's covered in the latest Unwrapped episode.
💡 The Spark 💡
It started in late 2013 with a 19-year-old @VitalikButerin. His core idea was to use the blockchain to run programs he called smart contracts.
The network launched on July 30, 2015.
🔧 First Big Test: The DAO Hack
In 2016, a major project called The DAO was hacked for 3.6 million ETH.
This created an issue: do they reverse the theft or uphold the code-is-law principle?
The community make a controversial decision to hard fork tand restore the funds, but a minority disagreed, creating Ethereum Classic.
🐈 The Wild Years: ICOs & Kitties 🐈
2017: The ICO boom hit. Startups used Ethereum to raise millions.
Late 2017: The popularity of CryptoKitties congested the entire network, confirming that Ethereum desperately needed to scale.
💰 Finding Its Groove: DeFi & NFTs 🎨
2020: DeFi Summer exploded, using smart contracts to build new financial services for lending and trading in a decentralized manner, without banks, without the middle men.
2021: NFTs went mainstream. Creators used Ethereum for digital ownership, making the news with sales like Beeple's $69 million artwork.
♻️ The Merge: A Green Leap Forward ♻️
On Sep 15, 2022, Ethereum pulled off its biggest upgrade ever: The Merge.
It switched from energy-intensive mining to Proof-of-Stake, cutting energy use by 99.95% overnight.
The transition was flawless, like swapping out an engine mid-flight.
⏩ The L2 Era: Scaling Up ⏩
To handle more users, the focus shifted to Layer 2 networks (L2s) like @Base and @Arbitrum to make transactions cheaper and faster.
The 2024 Dencun upgrade made L2s even cheaper by introducing "blobs" for data storage.
💙 @Ethereum's long journey of resilience and innovation is what allows ecosystems like BMX to thrive.
Listen to the full episode for the complete discussion on Ethereum's origins, successes, controversies, and more.
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