Ethereum’s Meteoric Rise: Outpacing Tech Behemoths
Who achieved the $10B Revenue in 7 years before?
Long before Microsoft or other large companies, Ethereum has achieved it. Let’s learn about the first three.
Alphabet Inc. is an American multinational corporation that operates in the technology sector. Founded in 2015, Alphabet was created as a parent company for Google and other subsidiaries, allowing for greater clarity in the company’s structure and better management of its various companies and projects. Larry Page and Sergey Brin, the co-founders of Google, were the main drivers of this reorganization.
Alphabet Inc. is involved in a wide variety of projects and sectors, including information technology, research and development, investment in startups and online services. Alphabet’s major subsidiaries include Google, YouTube, Waymo (a self-driving vehicle company), Calico (dedicated to longevity research), DeepMind (artificial intelligence), and several others.
Google is the best-known and most visible company under the Alphabet umbrella, offering a wide range of products and services, from its market-leading search engine to its Android mobile operating system, the Chrome browser, online advertising services, and much more.
Alphabet has also been a leader in emerging technologies, such as artificial intelligence and quantum computing, and has invested in research and projects in these fields. Additionally, the company has shown growing interest in healthcare and biotechnology through companies such as Calico and Verily.
One of Alphabet’s key goals is to foster long-term innovation and development, allowing its subsidiaries to operate with greater autonomy and resources, giving them flexibility to experiment and undertake risky projects.
Alphabet Inc. trades on the New York Stock Exchange under the symbol “GOOGL” for its Class A shares and “GOOG” for its Class C shares. The company is headquartered in Mountain View, California, and its leadership has experienced changes over time, including the departure of Larry Page and Sergey Brin from their executive roles, being replaced by Sundar Pichai as CEO of Google and Alphabet as a whole.
Ethereum is not a corporation in the traditional sense, but rather an open source software platform and cryptocurrency that operates on blockchain technology. Ethereum was created to enable the execution of smart contracts and decentralized applications (dApps) on a blockchain, distinguishing it from Bitcoin and other cryptocurrencies that focus primarily on the transfer of value. Next, I will provide you with information about Ethereum and its importance in the world of blockchain technology.
Ethereum: The Smart Contracts Platform
Ethereum was proposed and started by developer Vitalik Buterin in 2013 and launched in 2015. Since then, it has evolved to become one of the most influential cryptocurrencies and blockchain platforms in the world. Unlike Bitcoin, which was created primarily as a digital payment system, Ethereum was designed with a focus on programmability.
The most prominent feature of Ethereum is its ability to run smart contracts, which are autonomous programs that operate on the blockchain. These smart contracts are written in Ethereum-specific programming languages, such as Solidity, and can automate a wide variety of tasks and agreements, from managing digital assets to voting and executing legal agreements.
Ether (ETH): The Ethereum Cryptocurrency
Ether (ETH) is the native cryptocurrency of the Ethereum network. It is often referred to as “gas” because it is used to pay transaction fees and to ensure that smart contracts and transactions execute on the network. Ether is also used as a form of value exchange and is traded on various cryptocurrency markets around the world.
Decentralization and Security
Ethereum is based on a decentralized network of nodes, meaning it is not controlled by a single entity or corporation. This makes the network resistant to censorship and external interference. Anyone can join the Ethereum network as a node and contribute to its security and operation.
Meta Platforms, Inc., formerly known as Facebook, Inc., is one of the largest and most prominent technology companies in the world. It is the parent company of the social network Facebook, as well as other platforms and services, such as Instagram, WhatsApp and Oculus VR.
Facebook was founded by Mark Zuckerberg and his roommates at Harvard University in 2004. What started as a social network for college students has grown into a global platform that allows people to connect, share content, and communicate online. Over time, Facebook acquired other companies, such as Instagram and WhatsApp, to expand its presence in the social media and messaging space.
In October 2021, Facebook, Inc. announced a rebrand and strategic focus toward virtual reality and the metaverse. The company was renamed “Meta Platforms, Inc.” to reflect its commitment to building a metaverse, which is a shared and expansive virtual space where people can interact, work, play and collaborate. This transition emphasizes the company’s investment in virtual and augmented reality technologies, such as Oculus VR.
Main Products and Services
Under the Meta brand, the company has focused on several products and areas of interest, including:
Facebook: The largest social media platform in the world, with billions of active users.
Instagram: A widely used photo and video sharing platform.
WhatsApp: An instant messaging application with millions of users around the world.
Oculus VR: A division dedicated to virtual reality, offering hardware and software for VR experiences.
Artificial intelligence and augmented reality projects: Meta is working on the development of advanced artificial intelligence technologies, as well as augmented reality devices.
More about Ethereum
Why It Matters: Ethereum gained widespread acceptance in fields such as finance, gaming and art as it enabled the deployment of more complex protocols across all industries.
This feature is unlike its rival, Bitcoin, which was the first one to launch a trustless and functional transactional network.
Ethereum’s network revenue could jump to $20 billion annually by 2030 from the current $2.6 billion annually ??? Maybe…
Based on Etherscan data, Ethereum processed more than 889,000 transactions on Oct. 14, 2023.
The average transaction fee stands at $0.74.
The world is changing and new technology companies, applied to blockchain, are scaling, in many cases, very quickly.