Ethereum, the leading blockchain platform, has achieved a remarkable milestone by surpassing $15 billion in cumulative revenue since its launch in 2015. This achievement has prompted Ethereum researchers to reflect on the development of the network and its future, as they post their thoughts on GitHub.
Despite facing challenges such as a hard fork and the commitment to switch to proof-of-stake, Ethereum has become a powerhouse in the industry, with sectors like decentralized finance (DeFi) contributing to its success. While new networks have emerged in the past few years, Ethereum has remained the king, and no rival network has been able to pose a significant threat to its dominance.
The team’s successful switch to proof-of-stake means that they can now focus on scaling the network, which is the next major milestone. Moreover, the network is soon to allow ETH withdrawals from staking on the mainnet, which is a sizable milestone in its own regard.
Danny Ryan, the Ethereum researcher and lead coordinator for ETH2, expressed his thoughts on Ethereum’s progress and the future of the network in his recent GitHub post. He acknowledged the long technological roadmap ahead, which may take up to five or ten years to accomplish. Despite the technical challenges such as the evolution of PoS, data availability sampling (DAS), and Maximum Extractable Value (MEV), Ryan remains confident in the team’s ability to execute and address these challenges.
Overall, Ethereum’s achievement of surpassing $15 billion in cumulative revenue is a significant milestone for the network, and its future looks bright. As Ethereum continues to hold a dominant position in the market, it is unlikely that its position will change anytime soon.
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