- Ethereum celebrates 10 years, evolving from smart contracts to global financial infrastructure.
- The network’s shift to proof-of-stake marked a new era of scalable, energy-efficient innovation.
- Experts say Ethereum must scale Layer 1 and reduce reliance on fragmented Layer 2 chains.
Ten years ago today, Ethereum launched with a bold idea: programmable money and unstoppable applications. Its white paper, penned by Vitalik Buterin, introduced smart contracts and a global decentralized computer. That launch on July 30, 2015, marked the beginning of a blockchain era that would transform finance, art, gaming, and governance.
From a small beginning to more than $450 billion market cap, Ethereum has reshaped the internet’s infrastructure. The platform now powers thousands of decentralized apps and facilitates billions in transactions every day.
Ethereum’s Rise from White Paper to Global Engine
Ethereum’s roots go back to 2013, when Buterin envisioned a blockchain that did more than store value. He wanted one that ran logic. By 2014, the Ethereum Foundation raised $18 million in one of the first major ICOs. One year later, in July 2015, Ethereum launched its first version, “Frontier.”
ETH, the platform’s native token, was priced under $1 in its early days. But adoption grew fast. By 2017, Ethereum had powered the ICO boom and DeFi’s first wave. It surged to $1,400 in 2018 before falling below $100 during a brutal market correction.
That volatility tested Ethereum’s tech and governance. The DAO hack in 2016, where $150 million in ETH was stolen, led to a controversial hard fork. Ethereum (ETH) and Ethereum Classic (ETC) were created due to the fork split. Nevertheless, ETH was able to recover, and it became a dominant platform.
The network’s greatest strength was its adaptability. From NFTs to DeFi, developers chose Ethereum to build the tools of Web3. By late 2021, ETH hit an all-time high of $4,891. But in 2022, macro tightening and high-profile crypto failures sent prices crashing below $1,000.
Still, Ethereum did not lose its position. Amid this turmoil, the network went through the process known as “The Merge” in September 2022. This process transitioned to proof-of-stake from energy-intensive proof-of-work. This reduced the energy consumed by Ethereum by 99 percent and paved the way towards scalable innovation.
L2 Scaling, Interoperability, and Institutional Trust
As Ethereum enters its second decade, industry experts are weighing what’s next. Bitget Wallet’s CMO Jamie Elkaleh says Ethereum’s future depends on infrastructure, not hype. He argues Ethereum must solve UX and speed issues or risk losing ground to faster layer-1s.
Elkaleh points out that Ethereum should reduce reliance on layer-2 chains. Rather, it ought to enhance native scalability and scale cross-chain user experience. Interoperability and composability, he says, are critical if Ethereum wants to stay the center of Web3.
Related: Standard Chartered Sees Ethereum Hitting $4K by 2025
Steven Pu, co-founder of Taraxa, shares a similar concern. He calls many L2s “centralized and insecure.” According to Pu, Ethereum’s strength should come from its L1. He urges the ecosystem to prioritize native scaling.
Yet, despite these concerns, Ethereum continues to attract institutional capital. A number of firms now have ETH in their treasury reserve. Products such as ETH ETFs and staking services are helping more investors participate in the network. Recently, ETH has made a comeback in 2025 with a price above $3,800.
More than just price, Ethereum’s tech roadmap remains ambitious. Upgrades like danksharding and rollup improvements aim to boost scalability. Meanwhile, Ethereum’s role in powering tokenized assets, stablecoins, and real-world finance is expanding fast.
Looking ahead, Ethereum will face tough questions. Can it maintain decentralization while improving user experience? Will it defend its place as Web3’s base layer? And will it remain attractive as both a tech platform and a digital asset? The next 10 years will determine how far it can scale its vision.
