Speaking on the “Behind the Startup” series on Hackernoon, CEO of YeFi, Pekka Kellka, addressedDeFiand Blockchain with Ishan Pandey.
When asked to elaborate on Vitalik Buterin’s announcement that the most important update to the Ethereum blockchain since 2015 recently went into effect, and its implications for the Ethereum ecosystem, Kellkaresponded:
“How many hours do we have? Let me start first by saying this: Ethereum will be the biggest game-changer in the global business. It will be “the global computer.” It will be bigger than AWS, Azure, and Google combined.”
The YeFi CEO added:
“Ethereum’s biggest change on the recent EIP (Ethereum Improvement Proposal) 1559 was the change on “the economical model” which will make ETH deflationary in the longer run.”
Ethereum EIP1559 upgrade
Indeed, larger platform changes to the Ethereum network stabilized and enhanced the network in many ways, allowing for more trust in Ethereum in general.
Due to the EIP1559, ETH tokens will be withdrawn from the market every time a transaction is made, and the basic fee amount will be “burned” on every transaction.
It is predicted that as the number of Ethereum transactions increases, more ETH will be “burned” than created (mined). Thus, the demand for ETH will far outstrip supply.
Ethereum will become the world computer
However, Kellka emphasized:
“But “the money-making machine” of ETH is just a side product. Most importantly, Ethereum will become the world’s computer, as I mentioned earlier.”
Even more significant changes are expected to occur whenETH2.0is released, likely by the end of the year.
According to the CEO, as a result of “Sharding,” the Ethereum network will be used much more cost-effectively, lowering transaction costs and substantially increasing transaction speeds, saving a lot of energy.
Finally, in terms of developments, we will see in the crypto space, particularly in the post-covid-19 era, Kellka expects the entire blockchain andcryptocurrencylandscape is about to explode.
[coinbase]
FAQs
Currently AWS is the largest provider of Cloud services, with a 33% market share and annual revenues of up to US$80 Billion in 2022. The platform offers over 200 services spread across 99 availability zones within 31 locations. Some of the common AWS services include: Block Storage.
Is AWS bigger than Google Cloud? ›
Google Cloud Platform (GCP)
Compared to AWS vs Azure, GCP is the smallest of the big three cloud providers.
Why Google Cloud is better than AWS and Azure? ›
While GCP has a smaller number of data centers compared to AWS and Azure, they are known for their high-performance global network infrastructure. Google's expertise in network optimization ensures fast data transfer and low-latency connections, making GCP a preferred choice for latency-sensitive applications.
Who are the big 3 cloud providers? ›
Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) are the big three cloud service providers today. Together, they take up 66% of the worldwide cloud infrastructure market, an increase from 63% the previous year, according to Synergy Research Group.
Which is bigger Amazon or AWS? ›
While Amazon remains mostly an online retailer, the company has become a major entity in information technology, supplying large companies, startups and governments with computing resources, database software and networking services. AWS accounts for 17% of Amazon's $143,313 billion in overall revenue.
Is AWS the biggest cloud provider in the world? ›
Amazon Web Services (AWS) is the world's most comprehensive and broadly adopted cloud, offering over 200 fully featured services from data centers globally.
Who is bigger Google or Microsoft? ›
In terms of market capitalization, as of February 8, 2023, Microsoft is currently bigger than Google. However, this can change in the future as market conditions are dynamic and subject to fluctuations.
What is the market share of AWS vs Azure vs Google? ›
12-month revenues between the start of 2021 and 2022 for cloud infrastructure services reached $191 billion. AWS had the largest market share of cloud infrastructure services at 33% in Q1 2022. Microsoft Azure had a market share of 22% in Q1 2022, with Google at 10% and all other companies at 35%.
Is it better to learn AWS or Azure? ›
In terms of long-term value, both AWS and Azure certifications can lead to better job opportunities and higher salaries. AWS is currently more popular, with a larger market share, but Azure is also growing and is preferred by some organizations for its integration with Microsoft products.
Does Walmart use AWS or Azure? ›
Real-World Applications: Netflix utilizes AWS for streaming, Walmart uses Azure for retail analytics, and Twitter employs Google Cloud for data management.
GCP and AWS both offer a variety of features for computing services, but AWS provides more raw compute power than GCP, which focuses on managing services. AWS is, therefore, a better option for developers who need more control over their computing environment.
What are the advantages of Google Cloud over Azure? ›
Summary: Azure provides a well-rounded set of storage services and features, but can have a steep learning curve, especially for users without a background in Microsoft technology. Google offers fewer features but shines in storage pricing and ease of its use.
Is Azure taking over AWS? ›
Azure could take over the cloud services lead from AWS by 2026. However, in the fourth quarter of 2023, AWS was still the leader. AWS lost two percentage points of market share to 31% while Azure added two percentage points to 24%, according to CRN.
What is the largest cloud in the world? ›
Noctilucent clouds are composed of tiny crystals of water ice up to 100 nm in diameter and exist at a height of about 76 to 85 km (249,000 to 279,000 ft), higher than any other clouds in Earth's atmosphere.
Who is the market leader in cloud computing? ›
Who has the biggest market share in cloud? AWS has the biggest market share in cloud, with 32% of the market, followed by Microsoft's Azure Cloud and Google Cloud Platform (GCP). Alibaba Cloud is in the top three as well, with 9.5% market share.
Is Azure beating AWS? ›
According to a report by Statista, AWS commands 32% of the market, while Azure follows close behind with 23%. Launched by Amazon in 2006, AWS offers a vast array of cloud computing services, including computing power, storage, databases, and more.
Who is market leader AWS or Azure? ›
AWS remains the most popular cloud service, with a 33% market share at the start of 2022. However, Azure is seeing increased usage compared to previous years.
Who earns more Azure or AWS? ›
Which is better for career? If you are planning to choose between Azure and AWS in terms of career, you can consider a few points. According to the data, AWS professionals, on average, earn ₹6.3 lakhs per year, whereas Azure professionals earn around ₹6.1 Lakhs per year.
Why Azure is preferred over AWS? ›
Besides the benefits of PaaS, [Azure] has a built-in mechanism that makes VMs easy to scale so operating costs are lower than AWS.” Kensuke Suzuki, Chief Data Officer, Linked Brain Inc. “Azure made it really simple to implement security. I've used AWS and other clouds, and it's always complex to turn it on.
