Ethereum—a decentralized computer

Just a few years after Bitcoin first saw daylight, a concept for more than just a digital currency began to take shape. The idea was to create a decentralized ecosystem that not only stores and transfers value but also allows for creating applications, signing contracts, and more. With the launch of Ethereum in 2015, cryptocurrencies have entered a new period of paradigm shifts and limitless possibilities. Developers could now build the new decentralized internet on top of Ethereum, which was something impossible not so long ago.

Revolution in crypto

What is Ethereum, and why has it changed crypto forever? Why is what was once a genius idea and an entire movement losing its market share? Let’s explore the origins today.

Who created Ethereum?

Launched in 2015 and co-founded by Vitalik Buterin, Ethereum quickly became the second largest cryptocurrency, just like it is today. Buterin had a vision for Ethereum to have far more use cases than Bitcoin, which was primarily designed to be digital money. He thought of the possibilities smart contracts could introduce once they entered the game.

What makes Ethereum unique?

The concept of creating decentralized applications, swapping tokens, and minting NFTs was mind-blowing at first. You can see why it gained traction. Ethereum quickly became the finance hub in crypto, but it wasn’t limited to just this sector. ETH quickly found new use cases in industries like gaming, art, and social networks.

How did ETH become popular?

The new censorship-resistant internet had many advocates. Back in 2017, Ethereum became the go-to platform for launching Initial Coin Offerings (ICOs). The network attracted developers and traders who wanted to make a quick buck buying and selling those newly created tokens.

Obstacles and considerations

However, Ethereum wasn’t without any issues. As the userbase grew, speed and affordability became apparent problems.

Ethereum 2.0

In response, an upgrade or rather a sequence of network upgrades was proposed, also known as Ethereum 2.0. As of 2025, the largest upgrade shifting the consensus mechanism to Proof of Stake called The Merge has already taken place, but scalability upgrades like sharding still have a long way to go.

High transaction fees

As of now, Ethereum still struggles with high transaction fees, rendering it unusable for the majority of users during peak traffic times. In contrast, when the network experiences low volume, fees can be comparable to other networks.

Slow transaction speed

Transaction speed is the sole reason why some individuals are frustrated with ETH. It is also the sole reason why transaction fees get expensive sometimes, because the network can’t handle such traffic increases. For comparison purposes, Ethereum can handle around 15 TPS while Solana processes thousands of transactions per second.

Will ETH remain the leader?

Ethereum has a large and established ecosystem with many Layer 2 solutions, but competitors never sleep. The market has observed new solutions similar to Ethereum picking up steam. Will what was once thought to flip Bitcoin, fade into irrelevance?

Ethereum is here to stay

Ethereum is a well-known asset, always mentioned alongside Bitcoin. Despite Ethereum losing its market share, there are plenty of individuals rooting for the success of what was once a pioneer in crypto innovation.

Although Ethereum possesses serious issues that need to be quickly addressed, its vision in the early days laid the foundation for modern DeFi. The ongoing development and how successful the leadership is will determine the ultimate scale of success or failure.

Buying Ethereum made simple

Swapped.com was founded in 2021 in Aarhus, Denmark, by Thomas Franklin and Jonathan Bau, who had a vision to create an easy way for people to buy and sell cryptocurrencies worldwide. Fast forward to now; what has been just a concept evolved into a platform used by hundreds of thousands and created a shockwave in the industry that has even made the biggest players take notice.

Transparency isn’t optional—it’s essential, which is why the platform provides an overview of competitive fees to let users make informed decisions. This is exactly what makes Swapped.com the best way to Buy Ethereum online.