Ethereum not only experiences significant price increases but also establishes its foundational role for the new era of the internet and digital finance.
With superior technological advancements and practical applications, Ethereum is transitioning from a competitor to Bitcoin into the infrastructure platform for global Web3 and DeFi.
MAIN CONTENT
Ethereum aims to transform the internet and financial ecosystem rather than compete with Bitcoin.
A new DeFi system is being built on Ethereum with millions of global users.
MegaETH technology unlocks superior scalability, enhancing speed and security for Ethereum.
What is Ethereum’s mission in the current cryptocurrency ecosystem?
Hunter Horsley, CEO of Bitwise, asserts that Ethereum is not aimed at replacing Bitcoin but at transforming the entire Web2 and traditional finance landscape with decentralized technology.
According to Horsley, blockchain is like applications on an iPhone, sharing the same operating system but serving different purposes. Ethereum is built to be a digital economic infrastructure platform, not just a simple currency.
Ethereum’s mission is not to replace Bitcoin. It’s to replace Web2 platforms and legacy finance.
Hunter Horsley, CEO of Bitwise, 27/04/2024
Why is Ethereum considered the new DeFi platform?
Ethereum operates on a decentralized and permissionless model, allowing anyone to participate and innovate without being controlled by intermediaries.
Millions of people worldwide use the DeFi platform on Ethereum, where smart contracts replace intermediaries, and billions of USD in tokenized assets and stablecoins are traded daily.
What is the MegaETH technology and its impact on Ethereum's scalability?
MegaETH is a new generation Layer 2 solution that significantly enhances Ethereum's performance, with speeds of up to 100,000 transactions per second, latency under 1 ms, and transaction throughput of about 130 million per day.
At the same time, MegaETH uses EigenDA to ensure data availability and has a separate modular node structure for consensus, data processing, and execution functions, helping Ethereum operate effectively on standard hardware.
MegaETH enables real-time applications like high-frequency trading and AI-integrated DApps, marking a breakthrough in scalability.
Ethereum Foundation Report, 2024
Is Ethereum the next innovation in the cryptocurrency industry?
Thanks to increasing integration in the real-world market, technical innovations like MegaETH, and strategic vision, Ethereum is distancing itself from the label of "store of value."
Instead, Ethereum focuses on the real impact on the global digital economy and how it becomes the infrastructure for many future applications in finance and the internet.
Conclusion on the development and impact of Ethereum
Ethereum is not only growing in value but also expanding its role as a key platform for DeFi and new web technologies. The evaluation of Ethereum will no longer be based on comparisons with Bitcoin but measured by the depth of integration into the global digital economy.
Frequently Asked Questions
Is Ethereum a competitor to Bitcoin? No, Ethereum aims to become the infrastructure of the digital ecosystem, while Bitcoin primarily serves as a store of value. How has DeFi on Ethereum developed? DeFi on Ethereum has attracted millions of global users and processes billions of USD in transactions daily, demonstrating its practical application power. How does MegaETH impact Ethereum? MegaETH enhances processing speed to 100,000 TPS, reduces latency, and ensures security, helping Ethereum operate more smoothly for real-time applications. Why is Ethereum decentralized and permissionless? This allows users to build, participate in, and improve the network without being controlled by any intermediaries. What direction will Ethereum develop next? Ethereum focuses on developing the Web3 ecosystem, DeFi, and integrating new technologies to meet global demands.
Source: https://tintucbitcoin.com/ceo-bitwise-ethereum-khong-thay-the-bitcoin/
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