ETH#2multi
Ethereum
Where to buy ETH
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Risk signals
Key risks surfaced in review. See Risks & controversies below for the sourced detail.
- Uncapped Token SupplyMedium
Ethereum has a dynamic total supply of approximately 120 million ETH with no maximum supply cap, with new ETH issued as validator rewards.
- Missing Allocation TransparencyMedium
ETH has no published team, treasury, investor, or community allocation splits or vesting schedules.
- Contentious Hard ForkMedium
A 2016 DAO smart contract vulnerability on Ethereum led to a contentious hard fork to recover stolen funds.
Ethereum wiki
First drafts are compiled automatically from public and primary sources, with every claim cited. Anyone can propose edits, and every change is reviewed against primary sources before it goes live.
Background
Updated by Tokenica
Ethereum is a decentralized blockchain network and software development platform that supports smart contracts and decentralized applications (dapps). It was conceived in a 2013 whitepaper by Vitalik Buterin as an extension of Bitcoin's blockchain technology to enable a broader range of programmable uses, crowdfunded in 2014, and launched on July 30, 2015. The native token ETH is used to pay transaction fees (gas) and to incentivize validators who stake ETH to secure the network under its proof-of-stake consensus mechanism.
Risks & controversies
Updated by Tokenica
In June 2016, a vulnerability in the DAO smart contract on Ethereum was exploited, resulting in the theft of approximately $60 million worth of ETH and leading to a contentious hard fork to recover the funds. In July and November 2017, vulnerabilities in the Parity wallet library froze or affected funds across numerous multi-signature wallets on the network. In August 2022, OFAC sanctioned the Tornado Cash mixer operating on Ethereum for facilitating laundering of stolen crypto. The U.S. SEC closed its investigation into Ethereum 2.0 without charges in June 2024.
Team
Updated by Tokenica
- Vitalik ButerinFounder / Inventor of Ethereum
- Gavin WoodCo-founder; developed Solidity and wrote the Ethereum Yellow Paper
- Joseph LubinCo-founder; helped fund Ethereum's early stages
- Jeffrey WilckeCo-founder; created Geth
- Mihai AlisieCo-founder; co-founded Bitcoin Magazine with Vitalik Buterin and helped establish the Ethereum Foundation
- Charles HoskinsonCo-founder
Tokenomics
Updated by Tokenica
Ethereum (ETH) has a dynamic total and circulating supply of approximately 120 million ETH with no maximum supply cap. New ETH is issued as rewards to Proof-of-Stake validators securing the network, while a portion of transaction fees is permanently burned under EIP-1559, which can result in net deflation when burns exceed issuance. ETH has no published team, treasury, investor, or community allocation splits or vesting schedules. It serves as the native token for paying gas fees on the network (with base fees burned), earning staking yields for validators, and facilitating transactions and smart contract execution.
Timeline
Updated by Tokenica
- November 2013Vitalik Buterin Publishes Ethereum WhitepaperVitalik Buterin published the Ethereum whitepaper outlining a blockchain platform for decentralized applications and smart contracts, founding the project's vision.
- July 22, 2014Ethereum Ether Presale BeginsThe Ethereum Foundation launched a 42-day ether presale, raising funds to develop the platform and distributing initial ETH tokens.
- July 30, 2015Ethereum Mainnet Launches as FrontierThe Ethereum blockchain went live with its genesis block under the Frontier release, enabling mining, transactions, and basic smart contract execution.
- March 14, 2016Homestead Upgrade ReleasedEthereum activated the Homestead hard fork, improving security, stability, and developer tools for the growing network.
- June 2016The DAO Hack OccursA vulnerability in The DAO smart contract led to the theft of approximately $50 million in ETH, prompting a controversial hard fork to recover funds.
- December 1, 2020Beacon Chain Launches for Ethereum 2.0The Beacon Chain, Ethereum's proof-of-stake consensus layer, went live, introducing staking and laying groundwork for the transition from proof-of-work.
- August 5, 2021London Hard Fork Introduces EIP-1559The London upgrade implemented EIP-1559, introducing a base fee mechanism that burns transaction fees and improves fee predictability.
- September 15, 2022The Merge Transitions to Proof-of-StakeEthereum Mainnet merged with the Beacon Chain, switching from proof-of-work to proof-of-stake consensus and reducing energy consumption by over 99%.
- March 2023Shanghai Upgrade Enables Staking WithdrawalsThe Shanghai-Capella upgrade allowed validators to withdraw staked ETH and rewards for the first time since the Merge, enhancing staking liquidity.
- March 13, 2024Dencun Upgrade Implements Proto-DankshardingThe Dencun upgrade introduced EIP-4844 for data blobs, significantly reducing costs for Layer 2 rollups and improving scalability.
- May 27, 2025Pectra Upgrade Enhances Staking and AccountsPectra combined Prague and Electra changes to improve validator staking limits, account abstraction, and overall user experience on the network.
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Links
Updated by Tokenica
- officialWebsite
- docsDocumentation
- githubGitHub
- twitterX (Twitter)