Ethereum and other new coins rising graph

The Emergence of Altcoins

After Bitcoin was launched in 2009, various alternative cryptocurrencies (altcoins) began to emerge. These altcoins are based on the fundamental concept of Bitcoin but each has its own unique features and purposes.

The launch of Ethereum in 2015 brought a revolution to the cryptocurrency ecosystem. Ethereum went beyond simple currency functionality to enable smart contracts and decentralized applications (dApps). This greatly expanded the range of blockchain technology applications and became the catalyst for the emergence of numerous innovative altcoins thereafter.

Major Altcoin Growth Cases

Ethereum (ETH)

• Launched: 2015
• Initial Price: $0.30
• All-Time High: $4,891 (November 2021)
• Current Price: $3,500+ (2024)
• Key Feature: Smart contracts, Decentralized applications (dApps)

Solana (SOL)

• Launched: 2020
• Initial Price: $0.77
• All-Time High: $260 (November 2021)
• Current Price: $150+ (2024)
• Key Feature: High-performance blockchain, Low transaction fees

Cardano (ADA)

• Launched: 2017
• Initial Price: $0.02
• All-Time High: $3.10 (September 2021)
• Current Price: $0.60+ (2024)
• Key Feature: Academic research-based, Sustainability

Polkadot (DOT)

• Launched: 2020
• Initial Price: $2.90
• All-Time High: $55 (November 2021)
• Current Price: $7+ (2024)
• Key Feature: Multi-chain interoperability, Parachains

Ethereum's Growth Story

Ethereum was proposed by Vitalik Buterin in 2013 and officially launched in 2015. It started at a price of around $0.30, but quickly gained attention due to its innovative smart contract functionality.

During the Initial Coin Offering (ICO) boom in early 2017, Ethereum's price rose significantly as it was used as the base platform for many projects. After experiencing a cryptocurrency market downturn in 2018, it achieved explosive growth once again from 2020 due to the Decentralized Finance (DeFi) and Non-Fungible Token (NFT) trends.

In September 2022, Ethereum successfully completed 'The Merge', transitioning to a Proof of Stake (PoS) mechanism. This resulted in a 99.95% reduction in energy consumption and improved network security and scalability. In 2024, it continues to improve scalability through additional upgrades such as 'The Surge'.

2024-2025 Altcoin Market Outlook

The altcoin market in 2024-2025 is expected to see the following major trends and developments:

• Ethereum Upgrades: Scalability is expected to greatly improve with upgrades such as proto-danksharding and EIP-4844.
• Layer 2 Solution Growth: Ethereum Layer 2 solutions such as Arbitrum, Optimism, and zkSync will further develop and expand their user base.
• Increase in Real-Life Use Cases: Blockchain technology will continue to increase actual use cases in various fields such as finance, supply chain, gaming, and identity verification.
• Regulatory Environment Development: As regulatory frameworks for cryptocurrencies become clearer worldwide, institutional investor participation will increase.
• Improved Interoperability: Interoperability between various blockchains will improve through projects such as Polkadot and Cosmos.

Relationship Between Altcoins and Pi Network

Pi Network has the potential to follow the growth patterns shown by many altcoins. Similarities and differences can be found particularly in the following aspects:

• Accessibility Innovation: Just as Ethereum broadened the range of blockchain applications with smart contracts, Pi Network has innovatively improved cryptocurrency accessibility through mobile mining.
• Energy Efficiency: Similar to how Ethereum improved energy efficiency by transitioning to PoS, Pi Network adopted an energy-efficient consensus mechanism from the beginning.
• Community-Centered: Like many successful altcoins that grew based on strong communities, Pi Network is also developing around a global user community.
• Practical Use Cases: Just as altcoins like Solana and Cardano have proven their value by developing real-world use cases, Pi Network is also developing various practical applications within the Pi ecosystem.