Yorke Rhodes, Microsoft's Director of Digital Transformation, is confident that Ethereum will become the new decentralized App Store or flagship marketplace of the new Web3 over the next two years, by 2023. This is due to the fact that the cryptocurrency has low fees compared to Apple’s return on Apple Store profit sharing.
"Forecast: Ethereum will become the decentralized App Store in 2023," he said in August, arguing that ETH has low fees compared to Apple's return on Apple Store profit sharing, according to Digest Time.
As such, Rhodes believes Ethereum will scale over the next two years, presumably through updates and rollups. Apart from this, Ethereum has other advantages as well. For example, it doesn't have "trade blocking for Apple, no single point of control by a large company; the Ethereum network is distributed, decentralized, has single sign-on to applications, as well as payments, identity and P2P commerce."
The Metaverse is currently the hottest trend in cryptocurrencies. This topic has even been observed to outperform the world's largest digital asset, Bitcoin.
Ben Thompson, a former Microsoft employee, says on his Stratechery blog: "This is the kind of role blockchains will fulfill: provide exclusivity and portability when needed, in a way that makes it possible not only to live your life fully online, but as many lives simultaneously as you want, 'locked nowhere,'" he still adds that the tech market dominated by Apple, Google, and Facebook seems obsolete and destined to enter the world of politics and regulation.
© 2021, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.
Article edited by @SmokeyShorts, you can follow him on Twitter
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.