The trajectory of cryptocurrency adoption is starting to look eerily similar to the internet’s growth in its early days. With cryptos like Ethereum and Solana pioneering use of dApps, there is a shift toward evolving technology.
According to Quinten François, “crypto adoption is on par with the early Internet adoption.” However, the most exciting development isn’t just the pace of adoption. It’s the evolution of how blockchain technology is being used.
Much like the internet transitioned from infrastructure to applications, cryptocurrencies are entering a phase where decentralized applications (dApps) are driving growth.
Crypto’s Parallels with the Internet Era
In the early days of the internet, most resources went toward infrastructure: modems, routers, and servers. These foundational technologies were necessary but not user-friendly.
The true tipping point came when profit centers shifted to applications—like Amazon, Google, and YouTube—that captured the public’s imagination.
The profit center started to move away from infrastructure, towards applications. For years, blockchain infrastructure dominated conversations.
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Platforms like Ethereum and Solana focused on scaling, decentralization, and foundational growth. Infrastructure has often left newcomers asking, “What can I do with this now?” Applications are finally beginning to provide compelling answers.
According to Syncracy’s report, revenue on platforms like Ethereum and Solana is shifting toward applications. Applications are now capturing a larger share of blockchain-generated fees than ever before, encroaching on infrastructure’s dominance.
Leading projects like Uniswap and MakerDAO on Ethereum are exploring custom rollups to improve user experiences and gain more control over their economic models.
This shift is not limited to Ethereum. Solana, known for its high performance, is also evolving. After struggling with scalability during surges in user activity, Solana applications are adopting modular architectures, leveraging off-chain operations and second layers to maintain decentralization and scalability.
Adding to this momentum, a recent Coinbase report forecasts a resurgence for decentralized finance (DeFi) in 2025. According to Coinbase, DeFi will propel the blockchain space into a new era of adoption, extending its reach far beyond its current state.
This resurgence underscores the growing relevance of applications within the blockchain economy. With more robust infrastructure in place, dApps are poised to drive the next wave of adoption.
Crypto’s Applications Lead the Way With Solana, Ethereum
Ethereum and Solana exemplify a shift to “fat applications,” where dApps dominate the value chain. Uniswap, Aave, and other applications are building rollups to enhance scalability, access controls, and transaction processing.
These innovations aim to attract users by improving functionality while reducing operational costs.
Much like the internet’s transition to user-focused applications, crypto is entering a transformative era where applications are the main attraction.
With DeFi poised for a resurgence and dApps capturing more revenue, the blockchain space is ready for its next leap forward.
