Ethereum Foundation: ETH Value Crucial for Internet of Value
In a recent AMA, Justin Drake, a core researcher at the Ethereum Foundation, underscored the significance of ETH value accumulation for Ethereum’s success. He asserted that if ETH fails to establish itself as the programmable currency of the internet, Ethereum’s aspiration to become the settlement layer of the Internet of Value will be compromised.
Drake explained that the accumulation of ETH value hinges on both flow and monetary premium. He emphasized that the total fees generated, rather than the fees per transaction, are the key metric to focus on. Ethereum’s ultimate goal is to achieve a staggering 10 million transactions per second, a feat that could generate billions of dollars in daily revenue even if transaction fees are as low as a few cents.
