Ethereum’s Goal? Cracking The Web2 Fortress, Not Fighting Bitcoin—CEO

Ethereum’s path is clear. US President Donald Trump isn’t part of this story, but developers and investors are. According to Bitwise CEO Hunter Horsley, Ethereum isn’t trying to outdo Bitcoin on money alone.

It wants to update old Web2 and finance systems that still lock people in. Horsley made this point in a recent post on X, where he said the network will serve as the base layer for new apps and fintech tools.

Ethereum As An Operating System

Based on reports, Horsley compared Ethereum to a phone’s operating system. He said each app on a phone has its own job, yet they all run on the same core tech.

The same goes for Ethereum. Smart contracts sit on top of the protocol. They let anyone build DeFi services, data stores, digital IDs, or token markets.

This setup gives developers freedom. It also shifts the focus from measuring tokens only by price to judging them by use.

Ethereum isn’t competing with Bitcoin.

It’s competing with web 2.0 and legacy financial services software —

We’re going to move away from the “CoinMarketCap” era over the next 6-12 mo; away from the view that every crypto asset is the same, just diff mkt caps.

We’re going to…

— Hunter Horsley (@HHorsley) July 13, 2025

Permissionless Participation Drives Innovation

Horsley pointed out that anyone can join or improve the Ethereum network. There’s no need to get permission first. This open door leads to fast upgrades without hard forks that shut people out.

Developers say this beats old Web2 sites, which often block change. The code is public, so people worldwide can copy or tweak it. That makes the network more creative and accessible.

Ethereum’s next big step is a modular design. Based on data, the MegaETH test showed it can handle 1.7 Ggas/s. That equals roughly 130 million transactions per day.

Data throughput hit 980 MB/s. These gains come from splitting tasks: consensus, execution, and data availability each get their own lane. Nodes stay cheap to run, so more people can host them. You don’t need expensive gear to help keep the network strong.

Some users welcome these moves. They say Ethereum was never meant to copy Web2. It was supposed to go beyond. By breaking down old silos, it can offer services that banks and big tech can’t.

Critics, however, argue that Ethereum’s rise has slowed Bitcoin’s own tech growth. That debate continues in forums and chats.

According to CoinGecko data, ETH hit about $3,044, a 3.18% jump in one day. By the time of writing, it was trading at $3,065, marking nearly a 20% climb over seven days.

Market watchers say these gains reflect more than price pumps. They see hope in the network’s upgrades and new projects.

Featured image from Unsplash, chart from TradingView