Bernstein on Monday outlined a structured view on Ethereum‘s (CRYPTO: ETH) position in the blockchain ecosystem, framing it as a core network with expanding use cases that support its long-term investment appeal.
What Happened: The report notes that Ethereum’s architecture, driven by its proof-of-stake model and scalability upgrades, has enabled it to support a broad array of applications beyond basic transactions.
According to Bernstein, Ethereum has evolved into “a global settlement layer for decentralized applications,” encompassing sectors such as decentralized finance (DeFi), stablecoins, tokenization, gaming, and NFTs.
“Ethereum’s role in the digital asset ecosystem is akin to a decentralized app store, with a vibrant developer community and consistent network effects,” the report states.
The network’s …