Ethereum targets $130M daily transactions to reshape Web2
Ethereum (CRYPTO:ETH)'s development aims to transform existing Web2 and financial systems rather than compete directly with Bitcoin (CRYPTO:BTC) as a form of money.
Hunter Horsley, CEO of Bitwise, explained that Ethereum functions like a phone’s operating system, providing a base layer on which various applications can run.
“Each app on a phone has its own job, yet they all run on the same core tech,” he said, drawing a parallel to Ethereum’s smart contracts that enable DeFi services, digital identities, and token markets.
This architecture allows developers to build freely and shifts evaluation from token price alone to practical use.
Horsley highlighted Ethereum’s permissionless nature, stating anyone can join or improve the network without needing approval, which encourages rapid upgrades without excluding participants.
This contrasts with traditional Web2 platforms that often restrict changes and innovation.
Ethereum’s upcoming modular design is expected to increase throughput significantly.
The MegaETH test demonstrated a capacity of 1.7 Ggas/s, or approximately 130 million transactions per day, with data throughput reaching 980 MB/s.
This is achieved by separating consensus, execution, and data availability tasks, keeping node operation costs low and accessible.
Some community members view these changes as a new chapter, enabling Ethereum to offer services beyond banks and big tech by breaking down existing silos.
Critics argue that Ethereum’s growth may have slowed Bitcoin’s technological progress, a debate ongoing in industry forums.
CoinGecko data shows ETH trading around $3,065, up nearly 20% over the past week, reflecting optimism tied to network upgrades and new projects.
According to Horsley, Ethereum’s goal is not to rival Bitcoin on monetary terms but to serve as a foundational platform for next-generation applications and financial tools.
At the time of reporting, Ethereum price was $3,008.76.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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