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The Ethereum network remains one of the most popular blockchains for new cryptocurrencies and cryptography-based apps, thanks in part to its ability to smart contracts, and new data for 2018 suggest a network created with projects and growing trust among colleagues in the sector.
Ethereum is a well loved
Ethereum has long been the holder of position number two in the top ten of the largest cryptocurrencies for market capitalization. In recent times, this position is now held by Ripple and its cryptocurrency XRP, although confidence in the Ethereum network has not diminished, despite the decline in prices from about $ 1,400 in February to around $ 88 at the time of printing.
Undoubtedly, a scrambled winter has gathered on the horizon, but Ethereum, in turn, seems to do quite well. In 2018, the network processed a total of 353 million transactions. This is an increase of about 100 million transactions only in the last six months. At the time of writing this document, the average number of daily transactions is approximately 610,000.
In addition, the network boasts a total of 49 million unique addresses all on their own, compared to around 13 million in December 2017.
Smart contracts can do a lot
With the increase in the capacity of smart contracts, the alignments of these contracts have increased steadily over the last 12 months. Approximately 200,000 new smart contracts have been created since June. This number exceeded one million points in October, then hit 1.5 million last November. The Ethereum network remains the most successful platform for smart contracts in the cryptocurrency arena, which represents approximately 96 percent of new coins entering space.
The platform also hosts dozens of decentralized apps (dApps) including MetaMask, a widely used Web3 browser extension; the suite of Truffle Framework tools and the Loom network, which allows game apps to scale.
What about other people?
Mining has also increased tenfold in the last year. Currently around 11,000 active nodes interact with the Ethereum network. They cross six different continents and have shown a strong geographical diversity. Miners' premiums remained relatively large, with an average earnings of about 620,000 ETH per month.
And at the end of the day, the popularity of the network among the general population does not seem to diminish. The Reddit r / Ethereum community has more than doubled from approximately 176,000 members in December 2017 to around 418,000 at the end of this year. The network is also gaining new attention from venture capitalists such as Andreessen Horowitz, who recently promised about $ 15 million to MakerDAO, a project built on the Ethereum network.
Will Ethereum's growth continue in 2019? Why or why not? Post your comments below.
Image courtesy of Shuttershock
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