Grayscale Comapres Ethereum to New York City - BitcoinEthereumNews.com
Given the total addressable market for digital on-chain transactions is far bigger than the current DeFi market size, worth around $200B, Grayscale said DeFi protocols powered by smart contracts are still being undervalued. The current capital markets alone are 500x more than the DeFi market, Grayscale outlined. In addition, NFT-associated transactions and Metaverse-related applications could critically drive up the value of base chains. American Cities Analogous to Blockchain Protocols रिपोर्ट उद्धृत a framework developed by Dragonfly Research, which referred to well-known smart contracts platforms as “digital cities.” Ethereum is like New York City, the report noted. Though vast, expensive, and congested in certain areas, the network features the most crowded and richest blockchain protocol, “with over 500 apps that command a total value of over $100 billion—more than 10x larger than any other competing network.” On the other hand, the L2 solution Polygon, built on top of Ethereum, was considered a skyscraper in NYC, which scaled by building upwards. Polygon combines and settles many transactions internally in order to reduce the congestion derived from the base chain. When it came to Avalanche, the report stated that it is like Chicago because “the network is smaller, transactions are cheaper and less congested, and development is more