![]() These funds were used to finance the research and development of the Ethereum platform, including the implementation of smart contract technology. The presale was also significant because it provided funds for the development of the Ethereum blockchain. The presale paved the way for the success of Ethereum and the emergence of the decentralized finance (DeFi) ecosystem we see today. The importance of funding to the Ethereum team cannot be overstated. It also helped to create a really strong community of early adopters, passionate about the potential. It allowed the Ethereum team to raise the funds needed to develop their L1 blockchain. Overall, the Eth presale was a resounding success. Some of the notable investors who participated in the presale include Barry Silbert, Digital Currency Group, and Tim Draper.Īll these investors saw the vision and jumped at the oportunity to board the ship. The Ethereum presale attracted a diverse range of investors, including individuals, institutions, and cryptocurrency enthusiasts. The Ether was sold at a price of 2,000 Ether per Bitcoin, which was significantly lower than the market price of Ether at the time. Equivelant to around 31,500 BTC at the time. The sale was conducted through a smart contract, which automatically allocated Ether to the investors' Ethereum wallets.ĭurring the 42 days of the presale, a total of 60 million Ether were sold. Over 42 days, investors were given the opportunity to purchase Ether, the native cryptocurrency of the Ethereum blockchain, at a discounted rate. ![]() The Ethereum presale was an initial fundraising campaign that took place in 2014 to finance the development of the Ethereum blockchain. Interested? Good - keep reading to learn what the presale was all about, how it worked, and why it was so important. What you might not’ve heard of on the other hand is the Ethereum presale, one of the most significant events in the history of Ethereum and the entire crypto space. If you’ve heard of cryptocurrency and made it to this website, then you’ve probably heard of Ethereum. ![]()
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