Ethereum, described as a “second-generation blockchain“, is among the most popular cryptocurrencies. Ethereum is an open-source platform based on blockchain technology that enables developers to build and deploy decentralized applications. Beyond a useful cryptocurrency, ethereum, instead of building a completely original blockchain for each new application, allows thousands of different applications to be developed all on a single platform, thus making the process of creating blockchain applications easier and more efficient than ever. It also incorporates many advanced features and new technologies. Ethereum manages to be ahead of other cryptocurrencies with its innovations and attracts attention with its blockchain initiatives.
According to a study based on more than 200 startups in blockchain startups, ethereum has managed to rank first in Europe in the blockchain protocol. The research focuses on the fact that 27% of the companies operating on decentralized solutions in the European Union continue to work on ethereum. According to the data included in the research, the suitability of blockchain protocols is evaluated to depend on the industry. etheruem, which has a large share in the protocols used by enterprise blockchain initiatives; The fact that it appeals to every company operating in independent sectors such as art, culture and real estate is seen as one of the most important factors that increase this share. The tokenization of assets in these sectors offers a multitude of use cases. On the other hand, interoperability between protocols is of great importance in the long term.
Another remarkable topic of the research is that the main reason why companies prefer blockchain in their operations is the elimination of intermediaries. As a result of the fact that the system exchanges peer to peer value and data without the need for an intermediary, the commission paid to intermediaries in traditional systems is eliminated. Therefore, transaction costs are minimized and it is estimated that the biggest reason why 40% of companies prefer blockchain is the low transaction costs. 30% of companies say that they prefer this technology because a third party cannot make any changes to the data on the blockchain.
It is inevitable that ethereum and blockchain technology, which have a highly developed network structure, will become increasingly widespread in the coming years and will affect the whole world.
