Row 77993

Row ID: 77993 | Dataset Entry | Axioma AXP Content Repository

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>If Ethereum become a global infrastructure that everyone uses.

I agree.

>However, the value might not be in the ETH token. It could very well be in a stablecoin or even wrapped BTC.

But since ETH is the currency to use this network, it will capture the value of these uses.

ETH is a commodity required to operate in this ecosystem (I'm not saying it's a commodity asset, it's just an analogy), pretty much like oil is a commodity to operate in the shipping industry. It's the raw material that the network uses and that every business will actually need (directly or not) to operate on this "platform".

With L2 / L3 development, even if end users will be able to pay fees with stablecoins, the settlement will happen on the Ethereum layer with ETH. All infrastructure operators (L2 and L3) will need ETH to process transactions on the user's behalf. Gas sponsoring is just an abstraction, it doesn't remove the value of ETH.

So the average user will probably not even know about ETH, but ETH will be everywhere to make this work.

ETH is not like wBTC, stablecoins or any other token on Ethereum. **ETH is not an Ethereum use case, it is the fuel for every Ethereum use case to work.**

>ETH token has privilege of lowest gas usage

What do you mean? ETH is what it takes to send a transaction on Ethereum. Even if the end user doesn't use ETH on a Layer 2, the Layer 2 operator actually uses ETH to settle the transaction on the Layer 1.

FieldValue
text >If Ethereum become a global infrastructure that everyone uses. I agree. >However, the value might not be in the ETH token. It could very well be in a stablecoin or even wrapped BTC. But since ETH is the currency to use this network, it will capture the value of these uses. ETH is a commodity required to operate in this ecosystem (I'm not saying it's a commodity asset, it's just an analogy), pretty much like oil is a commodity to operate in the shipping industry. It's the raw material that …
label r/ethereum
dataType comment
communityName r/ethereum
datetime 2024-05-24
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Raw Record

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  "text": ">If Ethereum become a global infrastructure that everyone uses. \n\nI agree.\n\n>However, the value might not be in the ETH token. It could very well be in a stablecoin or even wrapped BTC.\n\nBut since ETH is the currency to use this network, it will capture the value of these uses.\n\nETH is a commodity required to operate in this ecosystem (I'm not saying it's a commodity asset, it's just an analogy), pretty much like oil is a commodity to operate in the shipping industry. It's the raw material that the network uses and that every business will actually need (directly or not) to operate on this \"platform\".\n\nWith L2 / L3 development, even if end users will be able to pay fees with stablecoins, the settlement will happen on the Ethereum layer with ETH. All infrastructure operators (L2 and L3) will need ETH to process transactions on the user's behalf.\nGas sponsoring is just an abstraction, it doesn't remove the value of ETH.\n\nSo the average user will probably not even know about ETH, but ETH will be everywhere to make this work.\n\nETH is not like wBTC, stablecoins or any other token on Ethereum. **ETH is not an Ethereum use case, it is the fuel for every Ethereum use case to work.**\n\n>ETH token has privilege of lowest gas usage\n\nWhat do you mean? ETH is what it takes to send a transaction on Ethereum. Even if the end user doesn't use ETH on a Layer 2, the Layer 2 operator actually uses ETH to settle the transaction on the Layer 1.",
  "label": "r/ethereum",
  "dataType": "comment",
  "communityName": "r/ethereum",
  "datetime": "2024-05-24",
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