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The end of July 2023 marked Ethereums eight-year anniversary since its genesis block. Over the years, the project has championed blockchain and smart contract technology and has provided the crypto community with the tools to disrupt the global finance system.

This article takes you on a captivating journey through Ethereums major milestones and achievements from its inception to its darkest hour during the DAO hack to the highly-anticipated Merge.

Although it has been eight years since the first Ethereum block in July 2015, the history of Ethereum goes back even further to late 2013 when Vitalik Buterin released its whitepaper.

It was roughly five years after the appearance of Bitcoin in 2008. At the time, Buterin proposed to build an alternative blockchain for building decentralized applications (dApps). Buterin argued that Bitcoins use of scripting language limited its capabilities. As such, Ethereum had to be created from scratch with a built-in Turing-complete programming language while adopting tested cryptographic concepts such as the proof-of-work (PoW) consensus mechanism.

Buterin described Ethereum as

A blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications, where they can create their own arbitrary rules for ownership, transaction formats and state transition functions.

Soon enough, the Ethereum Foundation was founded in 2014. The core members of the Ethereum development team consisted of Buterin, Anthony Di Lorio, Charles Hoskinson, Mihai Alisie, Gavin Wood, and Joseph Lubin, among others.

On 22 July 2014, the Ethereum Foundation announced a 42-day-long ether (ETH) sale. The price of ETH was initially set to 2,000 ETH per 1 BTC for the first 14 days, before declining to 1,337 ETH per 1 BTC by 2 September 2014.

It is estimated that the ether sale raised more than $18.3 million in BTC by selling more than 60 million ETH. Over 6,600 transactions occurred in the sale as people swapped their BTC for ETH.

Fast forward to 2016, Ethereums blockchain was up and running and gaining momentum. A decentralized autonomous organization (DAO) called The DAO was created in April 2016 via a token sale.

The DAO, which was created to act as a venture capital firm for the Ethereum ecosystem, saw immense interest and raised over $150 million in ETH from over 11,000 participants in its 28-day funding window.

Less than three months after its launch, The DAO was attacked by unknown hackers who exploited a bug in its smart contract. Over $60 million in ETH (one-third of the funds raised) was stolen in the infamous DAO hack. At the time, The DAO held roughly 15% of all ETH tokens and was the most heavily invested Ethereum project.

The failure of The DAO marked Ethereums first existential crisis, one which would lead to a split of the one-year-old blockchain.

Following the DAO hack, the Ethereum community faced a predicament. Core Ethereum developers saw that the only solution to retrieving the lost funds was to fork the Ethereum blockchain. In doing so, a new blockchain would be created, which basically took back all the stolen funds from the hacker and redistributed The DAO funds back to investors.

The plan sparked intense debates within the Ethereum community, resulting in a division between two opposing factions: the pro-forkers and the anti-forkers.

The central point of contention revolved around the concept of blockchain immutability.

The Ethereum community was called upon to vote whether to fork or not fork. 87% of the participants voted to fork the chain.

On 20 July 2016, Ethereum completed its hard fork to create a new version of the blockchain. The original, unforked chain went on to be known as Ethereum Classic.

Ethereum made headlines for the right reason in 2017 and 2018 as thousands of crypto projects tapped into the power of Ethereum smart contracts to launch their own tokens.

Billions of dollars were raised as ICOs became a popular way to raise funds. This period gave rise to a number of successful projects such as Filecoin, Tezos, and Bancor while also giving the world failures such as Sirin Labs, and Dragon Coin.

2020 saw a time when decentralized finance (DeFi) protocols came of age as user participation and capital in the fledgling industry grew exponentially. According to Decrypt, at the start of 2020, only $700 million was locked into various DeFi smart contracts. That figure ballooned to about $15 billion by the end of the year.

The year saw prominent DeFi protocols like Compound, Aave, and yearn.finance launch their governance tokens. Yield farming became popular among crypto degens looking to make a quick buck off their interest in cryptocurrencies. Decentralized exchange (DEX) trading volume surged, and meme coins investingtook off.

All of this was happening on the hottest blockchain at the time Ethereum.

Although the NFT culture was growing infectiously within the crypto community since 2018, 2021 was the year that the outside world got engulfed in the hype. Millions of NFT projects began popping up as Ethereums ERC-721 token standard made it easy to mint NFTs on the blockchain.

CryptoPunks and Bored Ape Yacht Club became status symbols on social media. Renowned auction house Christies sold Beeples Everdays: The First 5000 Days for a whopping $69.3 million. Nike took its first steps into the blockchain world by acquiring the digital art studio RTFKT.

By the end of the year, nearly $41 billion was spent on NFTs.

The explosion of NFT sales and DeFi transactions had resulted in gas fee spikes on Ethereum. In order to address this problem, EIP-1559 was implemented in August 2021, which introduced a base fee and miner tip to make gas fees stable and predictable.

EIP-1559 also made ETH more scarce by introducing a mechanism to burn all the base fees paid in a transaction.

On 16 November 2021, the ETH price hit an all-time high of $4,891.

In 2022, all the Ethereum community could talk about was The Merge Ethereums long-awaited transition from PoW to the proof-of-stake (PoS) consensus mechanism.

Work on The Merge was ongoing before 2022. The Beacon chain the original Ethereum PoS blockchain launched in 2020 and was running simultaneously alongside the Ethereum main net. It was extensively tested with real-world data.

On 15 September 2022, the Beacon chain merged with the Ethereum mainnet to complete Ethereums transition to the PoS consensus mechanism. As a result, miners were replaced by validators, the energy consumption of the network was reduced by over 99%, and Ethereum became more scalable.

The Merge was a major step in Ethereums aim of achieving mass scale. Now, the community is focused on developing the rollup technology to help Ethereum reduce gas fees and increase transaction throughput.

Rollups are layer-two blockchains that bundle hundreds of transactions off-chain and submit them to the main chain (Ethereum) as a single transaction, resulting in cheaper gas fees for the end user. The two most prominent rollup technologies being used are optimistic rollups and ZK rollups.

Upcoming upgrades on Ethereum are all geared toward supporting its rollup-centric roadmap.

Ethereums journey from its inception to the present day has been nothing short of remarkable. The platforms introduction of smart contracts and decentralized applications, the success of DeFi and NFTs, and the ongoing rollup-centric scaling plan showcase its transformative impact on the blockchain and decentralized technologies.

See the article here:

Ethereum's Birthday Special: 8 Years of Decentralization - Techopedia

The Shiba Inu (SHIB) ecosystem is gearing up for a major leap from its meme coin status via the launch of a new identity protocol and solidifying its status in the world of decentralized finance (DeFi).

Today, it announced its work with its developer community to ensure that a Self-Sovereign Identity (SSI) is prioritized and integrated into its protocols.

This also includes SHIBs upcoming layer-2 network Shibarium, so that users interacting with the Shiba Inu ecosystem can maintain complete control over their digital identity while ensuring enhanced security, free from the influence of third parties.

SHIB Devs Begin Testing Shibarium to Ethereum Bridge

Self-Sovereign Identity (SSI) is a model for managing digital identities in which individuals or businesses have sole ownership over the ability to control their accounts and personal data.

This means that, unlike traditional identity management systems where users rely on a third-party provider to store and manage their identity data, an SSI lets users store their identity data in a digital wallet. This data can then be used to prove their identity to other parties, such as websites, services, and applications.

From exceptional user experience to secure relationship management, Shib SSI creates a new opportunity to solve a myriad of problems for businesses and companies alike, a pseudonymous lead developer at Shiba Inu Shytoshi Kusama told Decrypt. Increased data security, privacy and protection, fraud reduction, auto-authentication, guardianship, and membership are just a few examples of the benefits of this technology.

According to the developer, the implementation of digital identity will take place on a "Shib Super App" where every Shibarium dApp can be onboarded.

This is a big part of our plan of perpetual decentralization, added Kusama.

Launched in August 2020 as an ERC-20 token running atop the Ethereum blockchain, Shiba Inu was initially designed as a "meme coin," meaning it was designed to be a fun and lighthearted cryptocurrency not intended to be taken seriously.

However, the coin quickly gained popularity, with its price surging to an all-time high of $0.000086 in October 2021.

As of today, Shiba Inu is the industrys 15th largest cryptocurrency with a market capitalization of over $4.8 billion, changing hands at $0.0000082, according to CoinGecko.

See more here:

SHIB Developers Aim to Leave Meme Coin Label Behind With New Identity Protocol Launch - Yahoo Finance

Home Journal BONE Token Anticipates Explosive Growth Amidst Shibarium Launch, Welcomes True Decentralization

As the crypto world eagerly awaits the launch of Shibarium, a stir has been caused by an intriguing development. The founder of Shiba Inu, @Shytoshikusama, has announced that they are renouncing the $BONE contract. This unprecedented step reflects the ethos of decentralization at the heart of blockchain technology, and it sets the stage for $BONE to gain a potentially explosive increase in value.

In a tweet from @BlackDumpling57, it was highlighted how $BONEs dominance continues to persist, even without a current use case. However, with the imminent launch of Shibarium, the tokens role is set to evolve drastically, causing, what @BlackDumpling57 predicts, a BOOM. The roles that $BONE is poised to play include delegation, validation, and acting as a gas token within the Shibarium ecosystem.

Huge $1,200 Giveaway is Underway on our Twitter account Enter Today!

In parallel, anticipation for $BONEs listing on Binance, as hinted by @Cryptolight_z, has further ignited speculation on the tokens potential growth.

The discourse on decentralization, the founding principle of blockchain and cryptocurrencies, has been revisited by Shiba Inus founder in an open letter to the community. The narrative portrays the evolution from Bitcoins challenge to centralized monetary systems to Ethereums extension of the blockchain to decentralized applications (DApps).

Shiba Inu ($SHIB), born out of an anonymous experiment, has been presented as the embodiment of this spirit of decentralization. With its remarkable rise to maintain top 20 status in the cryptocurrency space, SHIB provides a testament to the power of the community, proving that decentralized initiatives can thrive and compete with established financial systems.

As a significant step in this narrative of relentless evolution, Shiba Inu is getting ready to launch Shibarium, its own Layer 2 blockchain. As part of this development, the remaining supply of $BONE will be minted and the $BONE contract will be renounced, preventing any further minting. This move is seen as a stepping stone in the start of their blockchain, with a significant portion of $BONE allocated to the role of validators in their upcoming system.

$BONE is also projected to serve as a passport to the future, being the token delegates bury to receive a portion of rewards, acting as the gas token for Shibarium, and playing a crucial role in technology governance within their new system.

The coming days are filled with anticipation as the crypto community keenly awaits the ripple effects of these significant developments. As @Shytoshikusama puts it, this isnt just about following the path of decentralization; this is about trailblazing a new destiny for the world.

References:

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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BONE Token Anticipates Explosive Growth Amidst Shibarium ... - Captain Altcoin

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Cyberattacks can exacerbate existing security issues and expose new gaps atthe edge, presenting a series of challenges for IT and security staff. Infrastructure must withstand the vulnerabilities that come with the massive proliferation of devices generating, capturing and consuming data outside the traditional data center. The need for a holistic cyber resiliency strategy has never been greater not only for protecting data at the edge, but for consolidating protection from all endpoints of a business to centralized datacenters and public clouds.

But before we get into the benefits of a holistic framework for cyber resiliency, it may help to get a better understanding of whythe edgeis often susceptible to cyberattacks, and how adhering to some tried-and-true security best practices can help tighten up edge defenses.

Human error can be the difference between an unsuccessful attack and one that causes application downtime, data loss or financial loss. More than half of new enterprise IT infrastructure will be at the edge by 2023, according toIDC.

With so much data coming and going from the endpoints of an organization, the role humans play in ensuring its safety is magnified.

Perhaps the biggest challenge is thatedge environmentsare typically not staffed with IT administrators, so there is lack of oversight to both the systems deployed at the edge as well as the people who use them.

While capitalizing on data created at the edge is critical for growth in todays digital economy, how can we overcome the challenge of securing an expanding attack surface with cyber threats becoming more sophisticated and invasive than ever?

It may feel like there are no simple answers, but organizations may start by addressing three fundamental key elements for security and data protection: Confidentiality, Integrity and Availability (CIA).

In addition to adopting CIA principles, organizations should consider applying a multi-layered approach for protecting and securing infrastructure and data at the edge. This typically falls into three categories: the physical layer, the operational layer and the application layer.

At the edge, servers and other IT infrastructure are likely to be housed beside an assembly line, in the stockroom of a retail store, or even in the base of a streetlight. This makes data on the edge much more vulnerable, calling for hardened solutions to help ensure the physical security of edge application infrastructure.

Best practices to consider for physical security at the edge include:

Edge environments tend to lag in specific security software and necessary updates, including data protection. The vast number of devices being deployed and lack of visibility into the devices makes it difficult to secure endpoints vs. a centralized data center.

Best practices to consider for securingIT infrastructureat the edge include:

Once you get to the application layer, data protection looks a lot like traditional data center security. However, the high amount of data transfer combined with the large number of endpoints inherent in edge computing opens points of attack as data travels between the edge, the core data center and to the cloud and back.

Best practices to consider for application security at the edge include:

While CIA and taking a layered approach to edge protection can greatly mitigate risk, successful cyberattacks are inevitable. Organizations need assurance that they can quickly recover data and systems after a cyberattack. Recovery is a critical step in resuming normal business operations.

By vaulting data on the edge to a regional data center or to the cloud through an automated, air-gapped solution, organizations can ensure its immutability for data trust. Once in the vault, it can be analyzed for proactive detection of any cyber risk for protected data. Avoiding data loss and minimizing costly downtime with analytics and remediation tools in the vault can help ensure data integrity and accelerate recovery.

Organizations can address edge data protection and cybersecurity challenges head-on by deploying and managing holistic modern data protection solutions on-premises, at the edge and in the cloud or by leveraging Backup as-a-Service (BaaS) solutions. Through BaaS, businesses large and small can leverage the flexibility and economies of scale of cloud-based backup and long-term retention to protect critical data at the edge which can be especially important in remote work scenarios.

As part of a larger zero trust or other security strategy, organizations should consider a holistic approach that includes cyber security standards, guidelines, people, business processes and technology solutions and services to achieve cyber resilience.

The threat of cyberattacks and the importance of maintaining the confidentiality, integrity and availability of data require an innovative resiliency strategy to protect vital data and systems whether at the edge, core or across multi-cloud.

(Ripu Bajwa, Director and General Manager, Data Protection Solutions, Dell Technologies India)

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Protecting Edge Data In The Era Of Decentralization - IndiaCSR

Luffy Token

LONDON, UK, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Get ready to embark on an exciting journey as the Luffy Token project takes the anime and crypto worlds by storm! Luffy Token, also known as LUFFY, is a memecoin that harnesses the hype surrounding the epic episode release of Gear 5 on August 6. With its innovative approach to blockchain technology and charitable initiatives, LUFFY is setting sail to redefine the anime meta on Ethereum.

The LUFFY memecoin project welcomes anime enthusiasts, blockchain explorers, and curious souls alike to join its Nakama (community) in a thrilling adventure that fuses anime fandom and decentralized finance. The project is backed by a team of dedicated individuals who firmly believe in empowering the community through governance and transparency.

"I'm thrilled to announce the launch of Luffy Token, a memecoin project that combines our passion for anime and crypto,"said a spokesperson at Luffy Token."Our goal is to foster camaraderie, humor, and creativity within the crypto space while making a meaningful impact in the world through charitable initiatives."

LUFFY embraces innovation and decentralization as it navigates the Grid Line of Innovation. The project seeks to explore exciting new horizons within the Ethereum ecosystem, where community ideas and input play a crucial role in shaping the project's future.

One of Luffy Token's core values is giving back to the world. A portion of the proceeds generated through LUFFY's ecosystem will be devoted to supporting charitable causes close to the Nakama's hearts. By wielding the power of anime fandom, the project aims to mirror the determination of its namesake, Luffy, in protecting and uplifting those in need.

Joining the LUFFY Nakama means becoming a part of an unwavering crew, just like Luffy's own. The project invites anime enthusiasts and crypto enthusiasts alike to be a part of this passionate and fun-loving community. Together, they will set sail on a journey that transforms the crypto space into a playground for anime fans.

Story continues

As the epic episode of Gear 5 approaches, the LUFFY team invites everyone to be a part of this exhilarating voyage. Joining the LUFFY Nakama means embracing the thrill of combining anime and blockchain technology. It's time to hoist the Jolly Roger high and set sail on this new crypto adventure.

For more information about Luffy Token and how to join the Nakama, visit the official website athttps://luffytoken.org/. Stay up-to-date with the latest news and updates by following LUFFY onTwitterand joining theTelegramcommunity.

About Luffy Token

Luffy Token (LUFFY) is a memecoin project that aims to redefine the anime meta on Ethereum. Combining the passion for anime and crypto, LUFFY embraces innovation, decentralization, and transparency to create a strong Nakama (community). A portion of the project's proceeds will be dedicated to supporting charitable causes, reflecting Luffy's determination to protect and uplift those in need.

Website|Twitter|Telegram|DEXTools|Uniswap

https://luffytoken.org/

Disclaimer:

The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading securities and cryptocurrency.

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Embrace the Thrill of Anime and Decentralized Finance with Luffy Token (LUFFY) Memecoin Project - Yahoo Finance