Joseph Lubin : Ethereum Adoption Is Growing Faster

The largest smart blockchain contract protocol, Ethereum is exponentially growing at a higher rate.

The co-creator and co-founder of ConsenSys, Joseph Lubin says that according to him, a New York based Blockchain Software Studio consists 1,000 developers. He further adds to it saying that Blockchain is more than a market. It’s a movement. Market cap doesn’t reflect (sic) activity. Decentralized networks are growing. Infura serves 10 billion daily API requests. 1 million Truffle downloads. 1 million MetaMask downloads. 12,000 live Ethereum nodes. 48 million unique Ethereum addresses. 3 times LinkedIn blockchain job openings.

Major Products of Ethereum

Truffle, Infura and MetaMask are the major products of Ethereum. Often the community calls them altogether as “TIM”. They are the backbone of the infrastructure surrounding the asset.

Truffle is an Ethereum blockchain development framework that enhances developers to build quality blockchain products. Infura is a node infrastructure that processes requests on popular applications. MetaMask is the most widely available Ethereum and ERC20 wallet, which runs on Infura.

On November 4, the three blockchain tools achieved major milestones. MetaMask launched a mobile client, Truffle secured one million downloads, and Infura surpassed 10 billion requests.

Even though Ethereum lost 92% of its value from its peak on January 13, the user base of the blockchain protocol has increased substantially. Simultaneously,  the infrastructure supporting the ecosystem has nourished quite noticeably.

Joseph Lubin highlights the usage of Ethereum in developing countries like the Philippines is increasing. Regardless of the deficient performance of most of the cryptocurrencies, Ethereum remains trending.

Lubin believes in Blockchain Technology because of the developers, engineers, and technologists who built it. Also the experts who audit and secure the code, the designers to whom the user experience is the first priority, and the marketers who narrate the success of Web3.  

Projects remain on the same page

A recent report reveales, ICOs are not sold in bulk of their ETH. Excluding a certain part of ETH raised from token sale, most of the ICOs acquire a large part of their holdings in ETH.

A HASH CIB crypto analyst, Marat Garafutdinov writes that with the amount of data they possess, ICO projects react to the market conditions rather than being dictated. These treasuries contains a minimum of 3.4% of total ethereum supply. Hence, these results are received through various researches. Also most of the reporters contradict equalling all of the ETH moved to ETH directly sold.

In the past nine years the crypto space experienced the bubble-crash-build-rally cycle five times. But, in every year, the market saw a significant amount of work, resources, and capital comin in support of the new wave of investors, developers, entrepreneurs, and projects.

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Joseph Lubin : Ethereum Adoption Is Growing Faster
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The largest smart blockchain contract protocol, Ethereum is exponentially growing at a higher rate.
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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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