The Future of Ethereum: A Promising Journey Towards Mass Adoption - COINTURK NEWS
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The Future of Ethereum: A Promising Journey Towards Mass Adoption

2:35 am (85 days ago)
September 16, 2023

Ethereum might still be in its early stages, but have you ever wondered how successful it could be once the market realizes its full potential? Let’s explore together!

Developments in Ethereum

Ethereum has been focused on achieving long-term mass adoption. Reaching this goal can create a strong growth in revenue. The reason for having such high expectations for Ethereum is that Layer 1 networks are created to secure the value of WEB3. Essentially, this can be seen as a deviation from the WEB2 approach, which provides value to the application layer.

WEB3 Academy conducted an analysis to demonstrate how Ethereum’s protocol Layer benefits from Blockchain, specifically from Base and FriendTech. FriendTech is a WEB3 social application that operates on the Base network, but relies on Ethereum to execute transactions.

Furthermore, Ethereum receives a significant amount of revenue according to WEB3 Academy’s analysis on FriendTech’s revenue sharing. The same analysis suggests that Ethereum could experience exponential dApp growth in the next 10 years. Ethereum holders and stakers can benefit from these advantages over time. Therefore, Ethereum’s long-term expectations, especially in the case of mass adoption, seem promising.

Current Data on ETH

In addition, the amount of ETH held by the top addresses has been steadily increasing over the past 12 months, reaching its highest point this year. However, network growth has slowed down significantly due to the reflection of general short-term market negativity. When this article was written, Ethereum’s network growth figure was at its lowest level in the past 12 months.

In highly volatile market conditions, especially during periods of increased project attraction, it can often be high. Assuming all factors remain constant, an increasing number of dApps may theoretically need to provide higher fees over time. However, fee growth is not usually linear as it is affected by high and low volatility in network activity.

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