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Ethereum: The “Amazon of the 1990s” with High Potential, Says 21Shares
Sophia Cruz•Monday, November 4, 2024•1 min read
Ethereum‘s position in the cryptocurrency market is frequently compared to Amazon’s early days, with 21Shares experts referring to it as the “Amazon of the 1990s.” This viewpoint emphasizes Ethereum’s potential as a technology platform capable of transforming finance in the same way that Amazon reshaped e-commerce decades ago. Ethereum is a leading blockchain network that enables smart contracts and dApps, serving as a basic layer in the DeFi and NFT space.
21Shares, a prominent crypto investment firm, highlights Ethereum’s robustness, noting that it operates like an adaptable and scalable ecosystem that supports a range of financial services. This comparison to Amazon also underscores Ethereum’s versatility and potential for long-term value. Like Amazon’s evolution from an online bookstore to a global tech giant, Ethereum is gradually expanding its capabilities with updates aimed at scalability and efficiency. In particular, Ethereum’s move to proof-of-stake (PoS) through the Ethereum 2.0 upgrade has reduced energy consumption by around 99%, making it more attractive to investors and developers interested in sustainable technology.
Furthermore, Ethereum’s continuous development includes increased scalability through rollups and zero-knowledge proofs, both of which are crucial for speeding up transactions and lowering network costs. These advances are part of Ethereum’s 2024 roadmap, which is directed by founder Vitalik Buterin and aims to make the blockchain more efficient and user-friendly while encouraging wider adoption. With the next generation of decentralized applications on the way, Ethereum’s expanding infrastructure is likely to keep its competitive advantage.
21Shares also stated that this transformative potential sets Ethereum apart, attracting investors who see it as a long-term player with a vast ecosystem and practical applications. While short-term market fluctuations persist, Ethereum’s adaptability and strong community support reinforce its standing as a blockchain with Amazon-like potential.
Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
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