As the founders of Bitwise Hunter Horsley, the CEO believes that Ethereum’s main task is not to compete with Bitcoin but to modernize legacy systems and Web2 infrastructure.
In a recent release, Horsley pointed out Ethereum’s more general applications in providing decentralized applications and creating a more open financial environment.
Ethereum isn't competing with Bitcoin.It's competing with web 2.0 and legacy financial services software —We're going to move away from the "CoinMarketCap" era over the next 6-12 mo; away from the view that every crypto asset is the same, just diff mkt caps. We're going to…
— Hunter Horsley (@HHorsley) July 13, 2025
To clarify, he underlined that Ethereum should not be identified as a digital asset but as a type of basic technology. Such perception restates Ethereum as a flexible operating system of smart contracts, but not a competitor to Bitcoin’s monetary system.
Ethereum Supports Innovation and Openness
Horsley said that Ethereum is a permissionless innovation. Without a central point of restrictions, developers can create, maintain, or access the network. He feels that Ethereum’s architecture can be evolved faster with no interruptions that occur in legacy systems.
In comparison with the closed system of Web 2, Ethereum promotes the principle of transparency in development and open-source development. Its architecture is conducive to global reachability and does not suffer from the performance constraints of centralized technology. Horsley also stated that the market should not be price-centric but should acknowledge the usefulness of Ethereum.
Ethereum’s Use Cases Continue to Expand
Ethereum is being increasingly used in decentralized finance, data storage, tokenized assets, and digital identity. Its customized blockchain excels at renewing ancient technologies. Horsley likened this growing trend of Internet control to the increase of mobile applications on different platforms.
He believed that Ethereum’s value is based on its ability to create data silos and eliminate old services. It provides a flexible structure with support for international participation and real-time upgrades. Ethereum is more of a developer’s choice when it comes to creating transparent, inclusive, and resilient systems.
MegaETH Enhances Ethereum Scalability
MegaETH is one of the most promising developments in Ethereum. Such a modular upgrade speeds up transactions without compromising decentralization. It divides consensus, execution, and data availability, making it more efficient and maintaining node participation within reach.
In early tests, MegaETH could process 1.7 Ggas per second (equal to 130 million transactions per day). The data throughput was high, with 980 MB of data per second through the upgrade, too. MegaETH does not involve costly hardware, as is the case with traditional Web2 scaling techniques.
Although Horsley gained some criticism from some users who came out to argue that Ethereum has slowed the development of crypto innovations, some consider MegaETH a significant step in the right direction. Current pricing action indicates that there may be some confidence back in the hands of investors. Propping around the 3,044.75 level, Ethereum has painted a 3.18 percent growth in the last 24 hours as the market tends to be all over the place.
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