Ethereum not only transformed the blockchain landscape but fundamentally altered perceptions of decentralized technology’s capabilities, laying foundations for the development of smart contracts and dApps.
In its early days, Ethereum faced significant challenges including high transaction fees and scalability issues, compounded by the infamous DAO hack in 2016 which led to a hard fork.
The vision of Ethereum, articulated by Vitalik Buterin back in 2013, was to go beyond Bitcoin’s transactional focus, allowing developers to build versatile applications and automate complex processes.
Despite the early hurdles, Ethereum’s developers remained dedicated to refinements, ensuring its evolution into a robust platform for decentralized finance and applications by 2017.
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