Ethereum Launches "The Torch" NFT to Mark 10-Year Anniversary

Ethereum’s official X account has announced the launch of The Torch NFT to commemorate the network’s 10th anniversary and honor the individuals and values that have shaped its development over the past decade.

The Ethereum Torch: A Symbolic Journey Celebrating 10 Years

The Torch is a unique, one-of-a-kind NFT designed to symbolize the spirit of decentralization and community. It will be passed from wallet to wallet among a select group of developers, builders, and community members who have contributed to Ethereum’s growth. Each holder will keep the NFT for 24 hours before passing it on to the next person.

This symbolic journey will conclude on July 30, the anniversary of Ethereum’s launch, when The Torch will be permanently burned to mark the end of its ceremonial voyage. The first torchbearer was Ethereum co-founder Joseph Lubin. The full journey can be tracked on Etherscan.

Ethereum Torch NFT Torchbearers (So Far):

• July 20 – Joseph Lubin (Co-founder of Ethereum, Founder of ConsenSys)

• July 21 – Audrey Tang (Digital Minister of Taiwan, Civic Hacker and Cyber Ambassador)

• July 22 – Monaj Gorle (Co-president of 0xBlocSoc, Undergraduate at IIT Delhi)

• Next torchbearer – To be announced

In addition to the ceremonial Torch NFT, the Ethereum Foundation will allow anyone to mint a commemorative NFT on July 30, giving the broader community a chance to celebrate and participate in this historic milestone.

A Decade of Ethereum: From Whitepaper to Global Infrastructure

Ethereum started as a concept in a whitepaper and has evolved into a global computing platform processing over 24 million daily transactions. Over the past decade, it introduced smart contracts, transforming blockchains into programmable systems and enabling new sectors like DeFi, NFTs, and DAOs.

Below is a timeline of major milestones that have shaped Ethereum’s evolution over the past 10 years:

July 30, 2015 – Ethereum Launch

Ethereum's genesis block went live, enabling smart contracts and decentralized apps on the "Frontier" network.

December, 2015 – DAI: The Pioneer Stablecoin

DAI launched as the first decentralized stablecoin, pegged to the USD and governed by a DAO.

November, 2017 – CryptoKitties and the NFT Frontier

CryptoKitties introduced NFTs to the mainstream, showcasing Ethereum’s potential beyond finance.

June, 2020 – DeFi Summer

DeFi protocols surged, turning Ethereum into the foundation of a new decentralized financial ecosystem.

September 15, 2022 – The Merge Update

Ethereum transitioned from proof-of-work to proof-of-stake, slashing energy use and boosting scalability and security.

May 23, 2024 – Spot ETH ETFs

Ethereum gained Wall Street recognition with the launch of spot ETH ETFs, attracting institutional capital and validating on-chain finance.

Ethereum Increases Gas Limit by 25% to Improve Scalability

Building on these milestones, Ethereum continues to enhance its infrastructure to support growing demand and future scalability. Ethereum has raised its block gas limit from 36 million to 45 million units, a 25 percent increase aimed at boosting network throughput. The change was activated at block number 22,968,004 and received support from nearly half of the network’s validators, according to The Block.

The update did not require a hard fork and is part of Ethereum’s broader effort to scale the network. To address potential security risks, developers introduced EIP-7983, which sets a maximum gas usage of 16.77 million units per transaction to prevent denial-of-service attacks.

Ethereum plans to increase the block gas limit to 60 million in the near term. The long-term goal is to reach 150 million gas units per block with the upcoming Fusaka hard fork.

Looking Ahead

As Ethereum marks its 10-year anniversary, the network continues to develop with a focus on scalability, accessibility, and broader adoption. From symbolic initiatives like The Torch NFT to ongoing protocol upgrades, Ethereum remains an active platform for decentralized innovation.