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Five Years Later, the Ethereum DApp Ecosystem Looks Exactly as Predicted

The Ethereum ecosystem is now seeing the growth and adoption of ideas outlined more than five years ago, including many of the components of DeFi. Ethereum’s fifth anniversary from the mainnet launch is upon us, marking an important milestone in the long history of the first smart contract platform to reach significant adoption.Following the initial coin offering mania, today’s main narrative behind Ethereum is decentralized finance, an ecosystem that seeks to recreate the financial system from scratch on the blockchain.Ever since Ethereum’s founding, the application layer has been at the center of its value proposition. In a 2014 interview, Ethereum’s…

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