Ethereum (ETH) generated $10 billion in income in less than 80 months. Amazon, the digital marketplace behemoth, took twice as long to achieve this feat.
The Ethereum ecosystem is growing faster than Amazon (AMZN) in its early years as it prepares to move to proof-of-stake (PoS) consensus. As a result, in this article, you will understand how this occurred and how Ethereum has the potential to replace this centralized marketplace.
After Amazon, Ethereum is now on its way to Alibaba.
An anonymous ETH enthusiast, @odin free, a StarkNet scaling solution community activist, noticed that the Ethereum network achieved an 11-digit rating far faster than Amazon.
On February 18th, Ethereum achieved $10 billion in revenue, whereas digital behemoth Amazon took twice as long.
Adriano Feria, a software developer, on the other hand, gave two further evidence indicating that Ethereum has a considerably healthier and more promising economy than Amazon.
This Is Why Ethereum Will Become a Subsidiary of Amazon
Although Ethereum has a market valuation that is only 23% that of Amazon, it has a much larger Total Addressable Market (TAM) and is expanding much quicker. In 2021, Ethereum handled 4.5 times more transactions than the Visa card system. According to anonymous Web3 enthusiast @tom49coffee, Visa’s market capitalisation is 33% bigger than Ethereum’s.
On the other hand, the price of ETH plummeted below $2,900 yesterday, as the cryptocurrency and equity markets continued to fall. However, the existing ecosystem is constantly breaking records in terms of value locked. The ETH2 contract contained 9,500,000 ETH tokens at the time of publication. The ETH 2.0 contract outperformed Toyota Industries in terms of market capitalization, with a value of $24.8 billion (Nikkei: 6201.T).
More Ethereum Information
The well-known blockchain’s next version is Ethereum 2.0. The system’s update is critical to the long-term success of the blockchain ecosystem. The primary purpose of the update is to transition from a proof-of-work (PoW) validation technique to a proof-of-stake validation procedure (PoS). Instead of miners validating transactions, validators will be in charge of including them in the block.
As a result, miners will no longer earn incentives; instead, validators will. Additionally, the update will minimize the amount of energy required to generate new coins.
With the ETH 2.0 update, the network will be able to go on with its objective of speed, security, and dependability. By staking its ETH, it will reduce its carbon footprint and level the playing field for investors to have a democratic vote in ETH’s destiny. Ethereum 2.0 is a much-needed upgrade to a blockchain network that is now the most popular for smart contracts. As cryptocurrency acceptance develops, the scalability of ETH 2.0 will attract more users, making it the service of choice.