What Ethereum use case can make ETH a $500B market-cap asset? Community answers

Published at: June 20, 2022

While Ether’s (ETH) price dip over the weekend may have left investors worried about the digital asset, community members on Reddit discussed use cases of the asset that could push its price upward. 

In r/Ethereum, a Reddit user asked fellow community members how ETH could reach a market capitalization of $500 billion. Criticizing the use of smart contracts for real estate, the Redditor noted that they had not seen a convincing case that could solidify ETH’s value, like how Bitcoin (BTC) is viewed as a replacement for gold.

Redditor u/WarhorseLand offered a rebuttal to the original poster’s perspective on smart contracts and real estate. According to u/WarhorseLand, while there have been no applications yet, the real estate industry can prevent “closing day wire fraud” through the security offered by smart contracts.

Additionally, u/WarhorseLand argued that universal trustless authentication is “the best use case" for smart contracts. The Redditor believes that a use case letting people prove who they are without a doubt could spur positive price action for the digital asset.

Redditor u/SgtHappyPants brought up several use cases, including decentralized certifications and financial contracts. They also highlighted the importance of decentralized autonomous organizations, or DAOs. According to them, Ethereum is a global interaction platform that enables a new class of organizations.

Related: No more power surge: Community celebrates as Ropsten testnet merge goes live

Another participant compared Ethereum to popular platforms like Craigslist and Ticketmaster. The Reddit user mentioned that Ethereum could enhance those platforms by replacing the third party with the blockchain, allowing secured transactions with lower fees.

Meanwhile, Ethereum founder Vitalik Buterin recently shared his thoughts on blockchain use cases. In a blog post, Buterin mentioned non-financial applications such as data storage and retrieval and trust and censorship resistance. He also shared his thoughts on ideal voting mechanisms.

Tags
Decentralization
Adoption
Blockchain
Ethereum
Ethereum Price
Applications
Related Posts
Inside the blockchain developer’s mind: The governance crisis
This is Part 3 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 1 on the upgradeability crisis here and Part 2 on the vertical scaling crisis here. Upgradeability, vertical scaling and governance: What all three of these issues have in common is that people are attempting to iterate on top of a flawed architecture. Bitcoin and Ethereum were so transformative that they have totally framed the way we look at these issues. We need to remember that these were developed at a specific moment in time, …
Decentralization / Sept. 25, 2020
Inside the blockchain developer’s mind: The vertical scaling crisis
This is Part 2 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 1 on the upgradeability crisis here and Part 3 on the governance crisis here. The advent of the internet has revealed that we have a digital self that can amplify our real-world power thanks to the ability to interact with people anywhere on Earth and coordinate actions that our physical selves never could. But our digital selves are shackled — imprisoned on private computers belonging to Facebook, Google, Amazon, Netflix, Twitter, and the list …
Decentralization / Sept. 24, 2020
Inside the blockchain developer’s mind: The upgradeability crisis
This is Part 1 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 2 on the vertical scaling crisis here and Part 3 on the governance crisis here. It is our belief that there are three fundamental problems, or crises, that are standing in the way of blockchain adoption: upgradeability, vertical scaling and governance. In this article, we are going to explore the upgradeability crisis and how computer operating systems could serve as a useful analogy that holds the secret to resolving this crisis and enabling blockchains …
Decentralization / Sept. 23, 2020
Kevin O'Leary says his crypto holdings could reach 20% of portfolio
Shark Tank celebrity Kevin O’Leary, also known as Mr. Wonderful, says he would be ready to increase his crypto allocations up to 20% as soon as there are clearer regulations around stablecoins. O’Leary, a former Bitcoin (BTC) skeptic, is now a vocal advocate of cryptocurrency, which currently makes up over 10% of his investment portfolio. Mr. Wonderful is particularly focused on U.S. dollar-pegged stablecoins, which he sees as an effective hedge against rising levels of inflation. By staking stablecoins, he pointed out, he can make up to 6% returns. He explained to Cointelegraph: ”When inflation is 6%, you're buying power …
Adoption / Dec. 30, 2021
Inside the blockchain developers’ mind: How to build the next big social DApp
Cointelegraph is following the development of an entirely new blockchain from inception to mainnet and beyond through its series, Inside the Blockchain Developer’s Mind, written by Andrew Levine of Koinos Group. People use social applications daily, but despite all the hype around supposedly “next-gen” blockchains, none of those social applications are decentralized. Let’s unpack why, using two blockchains as a reference: Ethereum and Steem. Ethereum has far more developers than any other general purpose blockchain, and yet none of those developers have managed to build a social application with mainstream adoption. At one time, Steem was one the most widely …
Decentralization / Jan. 30, 2022