Ethereum's blockchain is the most active smart contract platform |

Ethereum’s blockchain is the most active smart contract platform

Peter Terlato 4 June 2018 NEWS

There is no way you’ve missed Ethereum if you’ve been involved in any way with cryptocurrencies.

The Ethereum cryptocurrency blockchain network has grown leaps and bounds since its inception in July 2015.

Given the focus and attention on blockchain platforms and cryptocurrencies, education platform ConsenSys gathered statistics from across Ethereum’s network to provide a snapshot of the company’s current standing.

Ethereum’s network has processed almost 240 million transactions. At the height of the cryptocurrency craze in early January 2018, the network processed 1.3 million transaction in just 24 hours.

Over the last two years, the word “Ethereum” has been included in over 110 million Google searches. In addition to this, the hashtag #ethereum is tweeted an average of 20,000 times each day.

The value of the Ethereum currency, Ether, expanded over 13,000% in 2017 alone.

ConsenSys revealed that 35 million unique addresses currently exist on Ethereum’s blockchain. Just shy of 17,000 nodes run on Ethereum’s blockchain across six continents, according to Ethernodes.

The Ethereum blockchain is, without a doubt, the most active smart contract platform in existence. Of the top 100 tokens by market cap, 94% are built on top of Ethereum. Of the top 800 tokens, 87% are built on Ethereum. Most of these tokens are ‘ERC-20 tokens’, which made possible the majority of the $5.5 billion raised through token sales in 2017 and the $6.5 billion raised in the first quarter of 2018.

ConsenSys on Ethereum being the most decentralized blockchain platform in existence

The Ethereum developer community is composed of 250,000 individuals. Github, which draws open-source developers from across the globe, lists 14,000 repositories and 220,000 commits concerning Ethereum.

ConsenSys acknowledged that startups, foundations and organizations have continue to share ideas and benefit from the development of Ethereum’s ecosystem. For example, the Ethereum Enterprise Alliance (EEA) formed in early 2017 with just 30 original members and has since grown to include more than 500 members.

There are 1,552 launched Ethereum Decentralized Applications (dApps), with many more still in development.

Ethereum implementations

  1. Brazil’s government announced intentions to move petitions and popular voting onto Ethereum’s network.
  2. Canada is testing Ethereum for government grants to provide transparency and alleviate corruption.
  3. The city of Zug, Switzerland began offering digital IDs registered on Ethereum in 2017.
  4. Chile uses Ethereum to track data and finances from its energy grid, offering transparency.
  5. Dubai is hoping to become an entirely integrated, blockchain-powered city by 2020.
  6. Estonia has become a “digital republic” moving many of its national systems onto the Ethereum blockchain.

“The Ethereum blockchain ecosystem is diverse, it is decentralized, it is strong, and it is flooded with innovation and activity,” ConsenSys concluded in its The State of the Ethereum Network report.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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