Ethereum’s Network Effects Cement Its Dominance, Argues Longtime Advocate
Ethereum has already won. That’s the bold claim made by Paul Brody, EY’s Global Blockchain Lead, as the Ethereum blockchain celebrates its 10th anniversary this July.
“All this speculation is wasted effort. Ethereum has already won. The losers just don’t know it yet,” Brody declared in a CoinDesk op-ed on July 21.
According to Brody, Ethereum’s transition to proof-of-stake, along with its thriving Layer 2 ecosystem, has placed it decades ahead of competitors.
Ethereum Follows the “Winner-Take-All” Tech Model
Brody draws comparisons between Ethereum and dominant technology platforms of the past:
IBM in mainframes
Windows for desktop OS
Android for mobile
TCP/IP in networking
All these platforms benefitted from two powerful forces: Zero marginal costs (adding users is virtually free) Network effects (more users = more value)
“It’s extremely hard—but not impossible—for laggards to catch up with the leaders,” Brody explains.
More Than a Blockchain—A Global Platform
Ethereum is no longer just a decentralized ledger. With massive DeFi, NFT, gaming, and enterprise usage, it’s become a global base layer for programmable money and digital assets.
“Blockchains behave, and grow, like technology platforms,” Brody emphasized. “And Ethereum has crossed the critical adoption thresholds—both time and market penetration.”
Notably, Brody also pointed to over 20% of the U.S. population having interacted with crypto, a sign Ethereum’s early-stage volatility is giving way to mainstream relevance.
The Road Ahead: Ethereum’s Competitors Face an Uphill Battle
While other chains like Solana, BNB Chain, and Avalanche continue to innovate, Brody believes the compounding effects of Ethereum’s scale, developers, and infrastructure will be hard to beat.
“We saw early leaders like Nokia and Blackberry fade away because the platform type was still new. That’s not the case anymore,” he added.
As Ethereum turns ten, Paul Brody’s message is clear: Ethereum’s first-mover advantage, maturing tech stack, and powerful network effects make it the default smart contract platform for decades to come.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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