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The Ethereum Foundation (EF), a globally acknowledged non-profit organization that offers support to the Ethereum ecosystem, has announced plans to launch a new non-fungible token collection on the Ethereum blockchain network. The now highly anticipated non-fungible token collection is aimed at honoring the people and values that have shaped Ethereum’s first decade and will help build its future.
In a July 21 blog post, the Ethereum Foundation confirmed that Ethereum will be turning ten this July since its inception. The Ethereum Foundation (EF) is a non-profit organization that supports and maintains the Ethereum ecosystem. The Ethereum Foundation board features notable persons like Aya Miyaguchi, the President, Vitalik Buterin, the Inventor of Ethereum, Hsiao-Wei Wang, the Co-Executive Director, and Patrick Storchenegger, who serves as a board member.
Launched on July 30, 2015, Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). It’s essentially a global, shared computer network that anyone can use to build and run applications without a central authority. Its native cryptocurrency is called Ether (ETH), used for transactions and to pay for computational resources on the network.
Ethereum ecosystem operates on a peer-to-peer network, meaning it’s not controlled by a single entity. Its open-source nature allows any developer to contribute to its development and use its technology. Unlike Bitcoin, which focuses on being a digital currency and store of value, Ethereum provides a robust platform for creating and executing transactions that facilitate the movement of value.
Ethereum is renowned in the non-fungible token market for hosting most of blue-chip NFT collections like CryptoPunks, Bored Ape, and Pudgy Penguins. It is widely used for NFTs due to its established infrastructure, robust smart contract capabilities, and strong developer community, making it a suitable platform for creating and trading unique digital assets. It’s established token standards like ERC-721 and ERC-1155 facilitate the creation and management of these non-fungible tokens.
In celebration of Ethereum’s success in the past ten years, the Ethereum Foundation plans to launch a generative non-fungible token collection dubbed Torch. Scheduled to launch on July 30, 2025, the Torch is an NFT honoring the people and values that have shaped Ethereum’s first decade and will help build its future. It will be symbolically passed from wallet to wallet in the 10 days leading up to Ethereum’s 10-year anniversary. A commemorative NFT will be available that day for anyone to mint.
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