Ethereum Researcher Reflects on Success As Network Crosses $15B in Revenue
Ethereum surpassed $15 billion in cumulative revenue. Danny Ryan, an Ethereum researcher, reflected on the network and its future in a GitHub post.
Ethereum developers have posted their thoughts on the development of the network and the milestone it hit in the form of The Merge. The reflection comes at a time when the Ethereum network has passed $15 billion in cumulative revenue since its launch in 2015.
Ethereum Passed $15B in Cumulative Revenue: Dune
Ethereum has certainly had an eventful few years, both good and bad, before becoming a powerhouse thanks to sectors like DeFi. A hard fork, the commitment to switching to proof-of-stake, and the growth of DeFi have consistently put the network in the spotlight over the years.
Despite the birth of new networks in the past five years, Ethereum has remained king and has hardly been offered a challenge by any rival networks. Ethereum, for example, burns more value in ETH every week than the revenue Solana has generated in its entire history.
Ethereum continues to hold a dominant position in the market, and nothing indicates that this will change anytime soon. With a successful switch to PoS in the bag, the team can now focus on scaling the network. This is the next major milestone.
The network is also soon set to allow ETH withdrawals from staking on the mainnet. This is a sizable milestone in its own regard.
Researcher Reflects on the network’s Progress
Ethereum researcher and lead coordinator for ETH2, Danny Ryan, published a post on GitHub, offering his thoughts on the progress that Ethereum has made. He said that he spent “quite a bit of time reflecting on the past 5 years” and showed optimism about the future of the network.
He referred to “Ethereum killers” and the network’s success through thick and thin. The researcher also acknowledged that there is a long technological roadmap ahead. Furthermore, he added that he worries “less about being able to execute and the associated timelines.”
A Long Road Ahead for Ethereum
Ryan states that the roadmap ahead is of “dizzying weight.” It may take as many as five or ten years to accomplish. His point was that the work has no set timeline and may take many years.
Among the immediate concerns are the evolution of PoS, data availability sampling (DAS), and Maximum Extractable Value (MEV). These technical challenges will soon need addressing, but Ryan remains confident while acknowledging that there is work ahead.