Ethereum’s mainnet blockchain completes 8 years of journey

After an 8 years of time period, the Ethereum mainnet network surpassed 2.05 billion transactions successfully.

Ethereum is the second biggest crypto network, after the Bitcoin network. At present, Ethereum is the second top trusted public Crypto network. 

On 30 July 2023, Ethereum’s mainnet blockchain was successfully launched by some talented people, namely Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin. 

Today the Ethereum blockchain has completed 8 years of life and so far this public network has completed more than 2.05 billion transactions.

At present, the total numbers of Ethereum addresses are 66.12 million, and 47.2 million Ethereum coin (ETH) are in supply.

July 30 marks the 8th anniversary of the official launch of the Ethereum mainnet. On July 30, 2015, Ethereum was officially launched and the founding block was generated.

At present, the total number of transactions in Ethereum has exceeded 2.05 billion Txns, the number of…

— Wu Blockchain (@WuBlockchain) July 30, 2023

In the 8 years of the Ethereum journey, the network faced technical challenges as well as several bugs but the Ethereum community developers contributed at their level to fight against the challenges and made the Ethereum network always alive & better over other networks.

Ethereum rivals vs Ethereum innovations

In the present time, Cardano (ADA), Solana (ADA), and Polkadot (Dot) like crypto networks are known as Ethereum rival networks but these networks fail to grab that level of position, where Ethereum is.

In the present time Ethereum network fees ranging $7 to $30 (depending upon Defi trade & particular token transaction.

I'm officially done with $ETH.

Ive used Ethereum exclusively as my layer one since since 2017. Bought, traded, stored tens of millions of USDT/C, tokens over last six years.

IM DONE.

It doesnt work. Its slow, expensive, bloated.
Defi is broken.
And not even decentralized.
$30…

— ＤＲＥＡＤ ＢＯＮＧＯ (@DreadBong0) July 29, 2023

To fight against such high network fee challenges, the Ethereum developers shifted the Ethereum blockchain from Proof-of-work (PoW) to Proof-of-stake (PoS) blockchain network in September of the last year. 

According to Ethereum co-founder Vitalik Buterin, it will take nearly 3-6 years to achieve the best level of efficiency for the Ethereum blockchain network on PoS consensus.

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