Ethereum Co-founder Joe Lubin Reiterates Unlike Oil, Ethereum Is Not a Security but a Commodity

Ethereum Clocks $3.6 Billion in its 8th Birth Year

by
  • Ethereum celebrated its 8th anniversary with a market capitalization of approximately $227 billion.
  • The project was introduced in November 2013 with Vitalik Buterin’s whitepaper, officially announced in January 2014.
  • Ethereum achieved $400 billion in secured value, generating annualized profits of $3.6 billion, and 17.8 million blocks of digital assets.
  • Ethereum’s decentralized platform empowered developers, leading to the growth of the DeFi ecosystem with projects like lending, borrowing, and yield farming.
  • ConsenSys ecosystem projects like MetaMask and Infura played crucial roles in simplifying user interactions and providing scalable Ethereum API access.
  • Ethereum embraced NFTs, becoming the home of the largest NFT marketplace, OpenSea, revolutionizing digital art ownership and monetization.
  • To address scalability and environmental issues, Ethereum migrated from Proof of Work (PoW) to Proof of Stake (PoS) with the successful launch of Ethereum 2.0 in September.
  • Ethereum’s native currency, Ether (ETH), is widely accepted as a payment option by various companies, including Gucci, Balenciaga, Chipotle, and Newegg.

(1)