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How did Ethereum perform in 2018?

Ethereum ETH is an open source blockchain platform that allows anyone to create and distribute decentralized applications (DApp). The project was initially proposed in a White paper in 2013 by a 19-year-old Vitalik Buterin.

The purpose of Buterin was clear. Instead of betting and building every single case on blockchain, he wanted to create something that could be used to create anything on blockchain – whether it's custom cryptocurrencies, financial tools, smart properties, decentralized storage systems, self-organization decentralized (DAO) non-fungible resources, identity management solutions or anything else you can think of. And he wanted users to do it "by writing the logic in a few lines of code".

The project went live on July 30, 2015 with the launch of its genesis block. "The vision of a censorship-proof "world computer" that anyone can program, paying exclusively for what he uses and nothing more, is now a reality. "The Ethereum development team said at the time.

So far, it does not seem to have worked that way. Instead of being home to significant blockchain-based applications that provide real-world utility, Ethereum has ended up becoming a breeding ground for the controversial first-rate coin offerings (ICOs) – which are more often scams than not.

In a rare scenario where a DAP called CryptoKitties gained traction, it ended up blocking the Ethereum network, greatly slowing down the speed of the transaction and increasing costs.

The developers of Ethereum did not give up though. The team worked on the implementation of various technologies with the Ethereum network to solve scalability problems.

Review of ETH / USD performance

ETH posted gains of over 8.800 percent in 2017, closing at $ 712 on the last day of December, not a surprise given the rush to the overall cryptocurrency market.