By George Ward
According to on-chain data from Dune analytics, the cumulative revenue generated by Ethereum since its launch in 2015 has recently surpassed $15 billion. In light of this achievement, Ethereum developers have shared their reflections on the network’s progress and this significant milestone.
Ethereum Researcher Comments On Ethereum’s Achievements
Danny Ryan, an Ethereum researcher and the ETH2’s lead coordinator, shared his reflections on Ethereum’s progress in a GitHub post. He stated that he had dedicated much time to looking back at the last five years.
Additionally, he said he is optimistic about the network’s success and believes in its growth. In his reflection, the researcher talked about “Ethereum killers” and how the network has succeeded despite facing various challenges.
He also acknowledged the existence of a lengthy technological roadmap that lies ahead. Moreover, he mentioned that he is less concerned about being able to execute the roadmap and meet the associated timelines.
Meanwhile, Ryan argued the roadmap ahead carries a dizzying weight. According to him, achieving the milestones on the roadmap might take about five to ten years. He emphasized that the tasks do not have a fixed timeline and could require several years to complete.
However, some pressing issues that require immediate attention include the Maximum Extractable Value (MEV), data availability sampling (DAS), development of PoS. Ethereum developers would have to address these technical challenges soon. Despite the work that lies ahead, Ryan remains confident and optimistic.
Ethereum Outperforms New Competitors
Over the past few years, Ethereum has experienced a series of noteworthy events, some negative and some positive, before emerging as a powerhouse, primarily due to sectors such as DeFi. The network has consistently remained in the limelight due to implementing a hard fork, the transition to proof-of-stake, and the growth of DeFi.
Notably, several networks have also emerged over the last five years. Notwithstanding, Ethereum has maintained its dominance and has faced little challenge from any competing networks.
Meanwhile, @KyleReidhead, an Ethereum developer, tweeted that Ethereum burns more ETH each week than the total revenue generated in the entire history of Solana. Ethereum’s market dominance remains unchallenged, and there is no indication that this will change anytime soon.
With the successful implementation of PoS, the team can shift their focus towards scaling the network, which marks the next significant milestone. Additionally, the network is poised to achieve another notable landmark, the Shanghai upgrade, which will enable ETH withdrawals from staking on the main net.
Besides, Ethereum staking has attracted several users since the platform switched to PoS on September 15th. According to reports, this upcoming upgrade will take place in March.