The Growth Of Ethereum And How It Has Surpassed Bitcoin As The Biggest Network
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It seems that bitcoin is no longer the biggest network in the industry as Ethereum has been making a big name for itself in recent times growing its community and ecosystem.
This is according to a recent report by Electric Capital. The paper from the venture capital company was written by Maria Shen, a partner at the Business. More than 300 developers are getting ready to join the Ethereum network on a monthly basis and with such a large number of minds coming together on a project like this, it speaks volumes for the network and its future. Especially as many people are choosing ethereum over bitcoin and its own network.
Over the course of this year, it is good to see that the network has grown so massively during so much turmoil. Of course, with traditional markets taking a big hit following the coronavirus pandemic this year, crypto is an alternative that many have turned towards. Despite many people going towards this network, there are others who believe that bitcoin is still more active and the best ecosystem to be a part of. According to the venture capital company though, this couldn’t be any further from the truth.
The whole point of the report was to look into the results after looking at numerous blockchain-based cryptocurrency ecosystems. To be classed as actively contributing to the network, a developer would need to work on something related to the blockchain consistently. To that end, Ethereum is four times more active than the bitcoin network.
A big part of the Ethereum network is decentralised finance (DeFi) projects. These kinds of projects have been cropping up all over the mystery in recent times and as a result, activity on the network has increased massively.
Over the course of the next year, the network is expected to grow even more. Especially with the recent launch of the 2.0 upgrade.