Ethereum wasn’t designed once and then left unchanged; it has evolved through successive hard-fork upgrades. From the mainnet launch to the switch to proof of stake, and then to reducing costs for layer 2 networks, each phase has tackled different challenges.
$ETH Since the mainnet launched in 2015, it has been Ethereum’s native coin for paying gas fees. Current price: 2264.22 (24h +0.29%).
The beginning: The white paper and mainnet:
The Ethereum white paper was written in late 2013, and a 42-day public sale of Ether began in July 2014. On July 30, 2015, Frontier, the first version of the Ethereum mainnet, went live, allowing developers to deploy smart contracts on it.
On July 20, 2016, Ethereum underwent a hard fork at block 1920000 in response to The DAO incident. The original chain, which did not follow the fork, continued running and became what is now Ethereum Classic (ETC).
Changes to fees and consensus:
On August 5, 2021, the London upgrade went live. EIP-1559, included in the upgrade, split transaction fees into a base fee and a tip, with the base fee being burned.
On December 1, 2020, the Beacon Chain launched as the consensus layer for proof of stake. The Merge was completed on September 15, 2022, switching Ethereum from proof of work to proof of stake and ending mining on the chain. The Shanghai upgrade (Shapella) on April 12, 2023, enabled staked ETH withdrawals.
Reducing costs for layer 2 networks:
The Cancun upgrade (Dencun) on March 13, 2024, introduced blob data (EIP-4844), significantly reducing the cost for layer 2 networks to submit data to the mainnet. The Pectra upgrade on May 7, 2025, increased the number of blobs each block can hold and also enabled regular wallet addresses to delegate execution to contract code (EIP-7702).
The Fusaka upgrade on December 3, 2025, introduced PeerDAS: nodes no longer need to download all blob data; they can confirm data availability through sampling. This lays the groundwork for further increases in data capacity.
How upgrades are rolled out:
Ethereum upgrades typically bundle multiple EIPs. They are tested over several rounds on testnets, and once stability is confirmed, a mainnet activation time is set. Node operators need to update their clients in advance; ordinary users do not need to do anything with the ETH in their wallets.
My take:
Keep these milestones in mind: the mainnet launch in 2015, the London upgrade in 2021, the Merge in 2022, and the Cancun upgrade in 2024. Understanding what problem each one addressed gives you a good sense of Ethereum’s direction over the years. Compare information from multiple sources before acting, and don’t rely on just one point of view.
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