Monday, December 11, 2023

Faster than the tech giants


  • Ethereum has reached over $10 billion in cumulative revenue since its launch in 2015.
  • Ethereum’s development has outpaced tech giants like Meta (formerly Facebook) and Microsoft in terms of the time it took to reach this milestone.
  • Despite a 77% decrease in revenue from last year, Ethereum shows significant upside potential going forward, according to VanEck estimates.

Ethereum, the leading smart contract platform, has reached a significant milestone by surpassing $10 billion in cumulative revenue since its launch in 2015. This achievement reflects the rapid growth and adoption of Ethereum in world of cryptocurrencies and blockchain technology.

According to a new report from cryptocurrency brokerage firm Caleb & Brown, Ethereum has achieved this feat in about 7.5 years, surpassing other major software companies in history, such as Meta (formerly Facebook) , which took a little over 7.5 years to reach this milestone , and Microsoft, which took 19 years to achieve it.

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Ethereum’s success is based on revenue generated from fees charged for transactions and other activities on its network. This includes payments for using decentralized financial applications, creating and trading non-fungible tokens (NFTs), sending cryptocurrency payments, and more.

However, it is important to highlight that Ethereum’s revenue has decreased by more than 77% from last year, which is in line with the overall decline of the cryptocurrency market. According to data from cryptocurrency analysis firm Token Terminal, the Ethereum network has generated $1.7 billion in revenue so far this year.

Despite this decline, some estimates suggest a bright future for Ethereum. VanEck, an asset management company, estimates that Ethereum network revenue could increase from $2.6 billion annually to $51 billion by 2030 if adoption continues to grow.

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This success of Ethereum highlights its importance in the world of cryptocurrencies and its fundamental role in the development of decentralized applications and smart contracts that are revolutionizing various industries. As blockchain technology and cryptocurrencies continue to evolve, Ethereum remains a leader in this ever-growing space.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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