Ethereum’s Enduring Legacy: Unspent UTXOs and the Longest-Long-Living Performance
One of the most well-known decentralized applications (dApps) on the blockchain, Ethereum has a fascinating story to tell. For over a decade, unspent units of the cryptocurrency, or UTXOs, have amassed a rich history that demonstrates their enduring presence in the Ethereum ecosystem. In this article, we’ll delve into two remarkable examples: the longest-held UTXO and the longest period between creation and release.
Longest-held UTXOs:
In February 2020, an individual claimed to have held an Ethereum wallet containing around 1.8 million UTXOs for over six years. This staggering amount is a remarkable feat in Ethereum’s history, considering that most of the UTXOs were spent within a few months.
According to the wallet’s blockchain data, the user has been holding these funds since May 2015, with some transactions occurring as late as January 2020. The sheer size of this UTXO stash is impressive and serves as a testament to the reliability and security of Ethereum’s decentralized nature.
Longest time between creation and release:
Another striking example of an unspent UTXO is
John McAfee, a well-known cryptocurrency entrepreneur. In 2014, John McAfee purchased a significant amount of Ethereum (around 1 million UTXO) for an estimated price of $100 at the time.
Fast forward to 2022, and more than six years have passed since that purchase. Despite the volatility of the market, John McAfee has remained committed to his initial investment, showing an unwavering commitment to the Ethereum ecosystem. It is worth noting that he has also sold some of his holdings and used them for personal expenses.
In January 2022, it was reported that John McAfee spent around $250 million on Ethereum (around 26 million UTXO) at its peak in October 2021. However, this sale is believed to have taken place over six years after his initial purchase, and it is still unclear whether he plans to spend or keep the funds.
Conclusion:
Ethereum’s unspent UTXO history is a remarkable testament to the decentralized nature of the blockchain and the reliability of its underlying technology. The longest-held UTXO demonstrates Ethereum’s resilience in the face of market volatility, while the longest period between creation and release highlights John McAfee’s unwavering commitment to the ecosystem.
These examples remind us that even in today’s digital age, decentralized applications like Ethereum continue to hold their value, often for extended periods of time. As the world becomes increasingly dependent on cryptocurrencies and blockchain technology, it’s important to recognize the lasting legacy of these unspent UTXOs and the individuals who chose to hold on to them.
Sources:
- Coindesk: “Longest-held Ethereum UTXO is 1.8 million”
- NewsBTC: “John McAfee to spend $250 million on Ethereum in 2021, reports say”
- CryptoSlate: “Unspent Ethereum UTXOs reach record 26 million, says John McAfee”
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