On the fifth anniversary of the pre-sale of Ethereum (in 2014 year), ConsenSys looked back at the history of the network. This year was critical for ETH.
The world's second largest cryptocurrency boasts better than ever statistical data.
Ethereum, the second largest cryptocurrency in the world and one of the most popular blockchain networks on the market, is currently celebrating its fifth anniversary. Its presale began in the middle of the 2014 of the year, and throughout its life there was a whirlwind of activity. Ethereum Incubator ConsenSys looked back at the history of Ethereum and highlighted the success of the network in 2019.
According to communication Since its inception, Ethereum has processed more than 500 millions of transactions. This year alone, more than 130 million transactions have been processed, and currently the network utilization is about 90 percent. Since the beginning of the year, about 16 millions of ETH addresses have been created, which indicates the growing popularity of the network. Currently there are more than 70 millions of unique addresses in Ethereum, but only 616 000 of them were active and participated in network transactions.
The network also gradually proceeds to stake proof. After passing the hard fork in Constantinople in February, Ethereum approaches its long-awaited update of Serenity.
This huge increase in popularity and usage is no coincidence – a 2018 Deloitte report showed that 95 percent of companies plan to invest in blockchain technology in 2019, while 84 percent believe that blockchain will eventually be scalable and widespread. Since Ethereum is the largest blockchain platform in the world, it can become a network for companies that want to enter the blockchain.
Ethereum has the most developers working on the core protocol.
To support the ever-growing number of users and transactions, the Ethereum network needs constant maintenance. A report from Electric Capital Dev from March showed that Ethereum had the largest number of developers working on the main protocol. It surpassed bitcoin, which has a much larger market capitalization, and is focused on Cardano research.
The study found that Ethereum had the most steady and steady growth of developers, with an average of 240 active developers in January of 2019. This is 23 percent higher than 190 developers who have been working on the network in 2018 year.
ETH user growth
(Source: Electric Capital)
With hundreds of developers working on the network, it's no wonder that ETH is also the network with the most commits of code. According to Electric Capital, Ethereum has 8 times more commits than bitcoin, and 20 times more commits than XRP.
Working on Ethereum is what gives companies the confidence to build and host their applications on the network. ConsenSys said that out of the top 50 dapps ranked by State of the Dapps, 29 of them are built on Ethereum.
However, by studying the case-specific dApps applications, Ethereum becomes much more visible. From 50 the best financial applications 42 percent are based on Ethereum. From the top 50 to Ethereum built 44 exchangeable and 42 protective.
All this may indicate an extremely successful year for Ethereum. While ETH seems to have come across several times in the last couple of weeks, it looks like it has entered a consolidation phase. We have not yet seen how its price will continue, when many Alt-Coins seem to be struggling with the growing dominance of Bitcoin.