In less than 80 months, Ethereum (ETH) made $10 billion in revenue. This accomplishment took twice as long for Amazon, the digital marketplace giant.
The Ethereum ecosystem is expanding faster than Amazon (AMZN) in its early years on the verge of the transition to proof-of-stake (PoS) consensus. Therefore, in this article, you will learn how this happen and what is the potential of Ethereum to replace this centralized marketplace.
First Amazon, Now Ethereum is Coming for Alibaba
Anonymous ETH enthusiast @odin free, a StarkNet scaling solution community activist, discovered that the Ethereum network reached an 11-digit rating much faster than Amazon.
Ethereum reached 10B USD in revenue in 6.5 years, twice as fast as Amazon.
— odin free ✨🐺 (@odin_free) February 18, 2022
On February 18th, Ethereum made $10 billion in revenue, while digital giant Amazon took twice as long to get to the same number.
On the other hand, Adriano Feria, a software engineer, shared two additional indicators showing that Ethereum has a far healthier and more promising economy than Amazon.
Amazon's market cap: $1.55 trillion#Ethereum market cap: $335 billion$ETH's revenue has grown twice as fast as Amazon did in its first years, it has a much larger TAM, and its market cap is only 23% that of $AMZN. https://t.co/3Yw5BKdgQF
— Adriano FΞRIA 🦇🔊 (@AdrianoFeria) February 18, 2022
This Is Why Ethereum Will Absorb Amazon
Although Ethereum has a market valuation that only represents 23% of Amazon, it has a far higher Total Addressable Market (TAM) size and is growing faster. Ethereum handled 4.5 times more transactions than the Visa card system in 2021. According to anonymous Web3 enthusiast @tom49coffee, Visa’s market capitalization, on the other hand, is 33% greater than Ethereum’s.
On the other hand, the price of ETH fell below $2,900 yesterday, amid the continuous drop in the cryptocurrency and equity markets. However, the current ecosystem continues to set new records in terms of value locked regularly. At the time of publication, the ETH2 contract had 9,500,000 ETH tokens in it. With a market valuation of $24.8 billion, the ETH 2.0 contract surpassed Toyota Industries (Nikkei: 6201.T).
📈 #Ethereum $ETH Total Value in the ETH 2.0 Deposit Contract just reached an ATH of 9,501,250 ETH
View metric:https://t.co/SzbMPqvhlb pic.twitter.com/grvDrajO5o
— glassnode alerts (@glassnodealerts) February 20, 2022
More Ethereum’s News
Ethereum 2.0 is the next version of the well-known blockchain. The system’s upgrade is essential to the blockchain ecosystem’s long-term success. The main goal of the upgrade is to switch from a proof-of-work (PoW) to a proof-of-stake validation procedure (PoS). Instead of miners validating transactions, validators will be responsible for including transactions into the block.
Therefore, miners will no longer receive rewards, instead, validators will receive them. Also, the upgrade will reduce the amount of energy required to create new coins.
The ETH 2.0 update will allow the network to move forward with its vision of speed, security, and reliability. It will decrease its carbon footprint and level the playing field for investors to have a democratic say in ETH’s future by staking their ETH. Ethereum 2.0 is a much-needed improvement to a blockchain network that is now the most widely used for smart contracts. As crypto adoption grows, ETH 2.0 scalability will attract more users, making it the service of choice.
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