In recent news about Ethereum, the largest smart contract platform is celebrating its 10th anniversary today.
On the occasion of this significant milestone, key figures from the Ethereum Foundation shared about the project's development journey.
Notably, insiders have shared how this technology is currently being utilized in regions like Africa, Latin America, and Southeast Asia.
From Unexpected Beginnings to Global Adoption
Today, July 30th, Ethereum turns 10 years old. This blockchain was launched in 2015 and has evolved from a small idea into a leading platform for smart contracts.
Notably, the project now supports many tools, applications, and programs used globally.
Aya Miyaguchi, President of the Ethereum Foundation, said that the early days of this protocol were not easy.
She recalled a time when a developer called it 'just another junk coin.' At that time, it was considered a risky and unclear project.
Over time, Ethereum began to attract more people. At Devcon Prague, Miyaguchi mentioned that she contributed to attracting new voices into the field.
Guests included Stewart Brand and Brewster Kahle, who have worked on open digital systems even before Ethereum was born.
According to her, their ideas have helped the community think beyond the scope of software and focus on long-term plans.
An important step forward is the UNICEF Cryptocurrency Fund. Miyaguchi said she was initially unsure if an organization like the United Nations could use cryptocurrency.
However, Chris Fabian, who led the project, demonstrated its feasibility. After many iterations, the project was launched at Devcon Osaka in 2019.
In her post on X, Miyaguchi mentioned that for her, the issue is not just about technology; it shows how slow-moving systems can experiment with something new.
Miyaguchi also shared about her visit to Latin America in 2022. In Argentina, she witnessed how Ethereum could be used for local projects in impoverished areas.
She visited Barrio 31 in Buenos Aires and chatted with builders who want more people involved in digital systems in the future.
More importantly, she also noted the large number of women leading the efforts there.
Ethereum News: Africa Joins the Ethereum Movement
Interestingly, Africa, once regarded by some as too backward to care about blockchain values, is now playing a crucial role in the Ethereum ecosystem.
Miyaguchi stated that the idea has changed after her conversation with local developers like Awosika Ayodeji in 2020.
Later, she joined a trip with Yoseph Ayele, where she met people using Ethereum in new ways.
Notably, local groups like Borderless Africa, Web3Bridge, ETHAccra, and Builders Connect are undertaking projects in Nigeria, Ghana, and Ethiopia.
These programs use Ethereum to support education, finance, and digital ID systems.
Miyaguchi stated that the ideas of Ethereum are not only relevant in Africa but also help shape better tools for the future.
What's Next?
In a recent update newsletter about Ethereum, Hsiao Wei Wang, Co-Executive Director of the Ethereum Foundation, also shared thoughts on this 10-year milestone.
She noted that Ethereum has become a global system, but the goal remains to keep its essence, which is open, secure, and free to use.
In her post on X, Wang explained that the next steps need to strike a balance.
She pointed out critical areas such as maintaining a stable network while allowing faster upgrades or improving privacy without increasing costs.
She stated that no single group can lead Ethereum forward. The strength of the network will depend on how people worldwide continue to build and share ideas.
According to her, Ethereum has been used in Southeast Asia for purposes such as storing public records and funding sharing tools. She believes this can grow in the next ten years.
If anything has changed, Ethereum's tenth year has shown how far it has come since its early days. From major organizations like UNICEF to builders in Africa and South America, the network has been utilized in various ways.
It is important to add that as the next phase begins, its success may depend on maintaining an open system that is valuable for everyone.
While the network continues to celebrate its 10th anniversary, the price of Ethereum is still trading at $3,778.68. The market capitalization of this coin, since turning 10 years old, has reached $456.83 billion.