$ETH History of Ethereum (ETH)

As an idea, Ethereum was introduced by young Canadian developer Vitalik Buterin in late 2013. The ETH blockchain saw the light on July 30, 2015, after a fundraising campaign in 2014.

In 2016, the infamous DAO scam occurred, one of the first decentralized autonomous organizations. As a result of the hacker attack, about 50 million US dollars were stolen. To protect the funds of his users, Vitalik took an unprecedented and controversial step – direct intervention in the Ethereum blockchain to reverse the hacker's actions.

The decision was met with mixed reactions from the cryptocurrency community. A group of enthusiasts decided to support the original blockchain chain, which later became known as Ethereum Classic (ETC). The new branch under Vitalik's leadership retained the name Ethereum (ETH).

The Ethereum blockchain is the largest in the cryptocurrency market, excluding Bitcoin. The popularity of the network is explained by its reliability. The high decentralization of the Ethereum network, on one hand, prevents gaining control over the entire blockchain, significantly harming the project, or shutting it down. On the other hand, it expands the possibilities of its use.