Originally published on: November 04, 2024
Ethereum’s groundbreaking white paper, marking the birth of blockchain’s “foundational” layer, has reached its 11th anniversary.
Originally introduced by Ethereum co-founder Vitalik Buterin in November 2013 as the “proto-white paper,” this technical document laid the groundwork for the innovative smart contract/DAC platform. Inspired by Satoshi Nakamoto’s Bitcoin network, Buterin’s vision revolutionized the concept of blockchain-based smart contracts, paving the way for the rise of decentralized finance (DeFi) applications like yield farming, decentralized lending, borrowing, and staking.
As Ethereum continues to shape the future of finance, its significance extends beyond the financial sector. Industries like travel and tourism have also harnessed the power of Ethereum’s smart contract platform for innovative solutions.
Looking ahead, Ethereum is poised to solidify its position as the “foundational infrastructure layer” of DeFi. However, the challenge of interoperability remains a key hurdle to overcome for broader adoption. With security concerns on the rise in the crypto space, the need for robust security measures is more crucial than ever.
Despite the evolving landscape, Ethereum’s journey over the past decade has been remarkable, serving as the home for millions of smart contracts and decentralized applications. As institutions increasingly turn to Ethereum, the platform’s growth trajectory shows no signs of slowing down.
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