According to statistics from L2Beat, Ethereum mainnet has regained control over its Layer-2 chains in terms of daily transaction volume, in addition to its price surge on cryptocurrency exchanges last month.
The most widely used Ethereum apps are those for cryptocurrency trading and decentralised finance. However, Ethereum’s hash-powered smart contract technology is capable of more.
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Blockchain-Powered Logistics Infrastructure
Blockchain, according to Ethereum specialist and “Ethereum for Business” author Paul Brody, may assist optimise and de-risk supply chains. The programmable, hashed tokens used in the peer-to-peer network can offer a productive supply chain management solution.
Unlocking Supply Chain Potential: Ethereum’s Real-World Use Case,Unlocking Supply Chain Potential: Ethereum’s Real-World Use Case
Peer-to-peer blockchain, for instance, may effectively and dependably track order batches for the pharmaceutical industry:
When it comes to goods like medicines, where counterfeiting can have fatal consequences, the demand for traceability becomes stronger. The capacity to swiftly track defective ingredient batches down the supply chain is crucial in these situations.
Industrial supply networks may increase the efficiency and quality of their data by utilising blockchain. Ethereum can potentially facilitate the transition to a zero-carbon future with tokenized carbon-reduction trading programmes and limits.
Realising the Dream of a Carbon-Free Future
Ethereum may reduce its carbon footprint in more ways than just moving from the energy-intensive proof-of-work consensus architecture to proof-of-stake. For instance, Brody states:
Around the world, regulators are starting to monitor and control carbon footprints. Cap-and-trade regulations, which force businesses to control their overall carbon emissions in an effort to adopt more efficient operations, are frequently the first steps.
He explains how Ethereum might be useful here:
“Each token, whether it is for offsets or emissions, has an original emitter identified. This guarantees that definitions are uniform and that companies issuing emissions or offset tokens can only do so once their processes have been examined and validated.
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A Georgian artisan winery used Cardano in 2021 to develop supply chain traceability and anti-counterfeiting measures. Meanwhile, Solana, an Ethereum rival, would be a great option for supply chain management due to its cheap costs and high throughput.
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