Ethereum Turns 10: Celebrating the Genesis Block That Changed Crypto Forever

On this day ten years ago—July 30, 2015—a revolutionary chapter in blockchain history began.

The Ethereum genesis block was mined at exactly 15:26 UTC, launching a decentralized platform that would redefine what blockchain technology could do. Unlike Bitcoin, which focused on peer-to-peer digital currency, Ethereum introduced a new vision: programmable money through smart contracts.

Ethereum was the brainchild of Vitalik Buterin, a teenage developer who believed blockchains could be more than ledgers—they could be computation platforms. Joined by co-founders Gavin Wood, Joseph Lubin, Charles Hoskinson, and others, Buterin helped create a decentralized system where anyone could build applications—called dApps—without centralized control.

The road to Ethereum’s launch wasn’t simple. In 2014, the team held a crowdsale that raised over $18 million in Bitcoin, making it one of the earliest and most successful token sales at the time. That funding helped bring the Ethereum Virtual Machine (EVM) to life, enabling developers to write code directly onto the blockchain.

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When the genesis block was mined, it carried with it the original ETH allocations to crowdsale participants. It was the foundation for everything that followed: DeFi, NFTs, DAOs, and an entirely new internet economy.

Over the past decade, Ethereum has undergone massive evolution. It transitioned from proof-of-work to proof-of-stake in 2022 through “The Merge.” It has weathered multiple forks, including the infamous DAO hack in 2016 that split the chain into Ethereum and Ethereum Classic. And it has become the backbone for thousands of projects, from Uniswap to OpenSea, handling billions in daily transactions.

As Ethereum celebrates its 10th anniversary, the crypto world reflects on how one project expanded the definition of what a blockchain could be. From humble beginnings in the genesis block to a global decentralized network, Ethereum continues to shape the future of finance, art, governance, and technology.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.