The Absence of Major DApps on Ethereum

On July 30, 2025, we celebrate ten years since Ethereum’s mainnet launch, a pivotal moment in cryptocurrency history.

Upon its launch, Ethereum was lauded as the first smart contract platform, allowing users to engage with systems that operated under immutable rules written in code, rather than being tied to a corporate entity’s discretion.

However, as we approach this decade mark, the anticipated on-chain giant platforms such as Amazon or eBay still seem elusive.

The Vision

Gavin Wood, one of Ethereum’s founders, originally envisioned a transformative Web3 ecosystem. Joe Lubin echoed this, expressing that Ethereum would play a major role in shaping our communication and information infrastructure.

Likewise, journalist Jim Epstein predicted a shift from centralized services like Facebook and Google to globally distributed computing solutions. Vitalik Buterin imagined Ethereum facilitating a host of services from law to cloud storage, and even hinted at the emergence of systems akin to Skynet, the AI from the Terminator films.

The Challenges of Scale

Currently, Ethereum processes approximately 14 transactions per second, while Solana boasts over 1000. The stark difference highlights a fundamental issue—mainstream applications require platforms capable of handling immense user volumes. Consider a decentralized eBay: it would necessitate numerous on-chain transactions for listings, updates, bidding, and escrow, creating an unsustainable load on current infrastructures.

Economic Viability

The economic landscape complicates matters further. Modern applications demand substantial scalability to cover development costs. Fragmented platforms due to various layer 2 solutions further inhibit unified global applications.

The decentralized marketplace for everyday transactions struggles to be profitable when transaction fees remain high, making them unappealing to average consumers.

Looking Forward

While the initial goal of ensuring both security and scalability might seem at odds, advancements in transaction throughput indicate a promising shift. Zero-knowledge proofs stand to revolutionize transaction processing by allowing only small cryptographic data to validate actions without taxing the entire network.

As we reflect on the past ten years, the slow progress of the aspirations for Web3 is evident. However, optimism remains—perhaps the following decade will usher in the long-awaited capabilities our blockchains need.