Forget Price – Ethereum Adoption is Growing Rapidly

In virtually every area, Ethereum, the largest smart contract blockchain in the world, seems to be growing at an exponential rate.

According to Joseph Lubin, the co-creator of Ethereum and the founder of ConsenSys, a blockchain software based studio in New York that houses 1,000 developers:

"Blockchain is more than a market. It's a movement. Market cap does not refleft (sic) activity. Decentralized networks are growing. 10 billion daily API requests served by Infura. 1 million Truffle downloads. 1 million MetaMask downloads. 12,000 live Ethereum nodes. 48 million unique Ethereum addresses. 3 times LinkedIn blockchain job openings. "

Truffle, Infura, MetaMask, Nodes, Jobs

Ethheum's three major products Truffle, Infura, and MetaMask, often called "TIM" by the community, serves as the backbone of the infrastructure surrounding the asset.

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

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

The market has increased to 92% of the population in January 13, the user base of the blockchain protocol has increased substantially and the infrastructure supporting the ecosystem has strengthened quite noticeably.

ConsenSys founder Joseph Lubin emphasized the use of the country in the developing countries as the Philippines has started to increase, with the Philippines connecting rural banks via a crypto-cash payment system, an initiative led by one of the country's most influential banks, Union Bank.

Considering that the Ethereum ecosystem has continued to grow in the past eleven months of the poor performance of major cryptocurrencies, Lubin stated that he remains optimistic in the long-term growth and trend of Ethereum:

"I believe in blockchain technology because of the people behind it. The developers, engineers, and technologists who build. The smart contracting experts who are auditing and secure the code. The designers who care deeply about user experience. The marketers who tell the story of Web3. "

Projects Seem to be on the Same Page as Lubin

As the sell-off of the ETH by initial coin-offering (ICO) projects, a recent report has revealed that ICOs have not actually sold a large portion of their ETH.

ETH from a certain portion of ETH raised from the token salt, most ICOs seem to be holding a fairly large portion of their holdings in ETH.

Marat Garafutdinov, an analyst at HASH CIB, wrote:

3.4% of the total ethereum supply. "Given the data we have, we are sure to say that. Our findings have been confirmed by separate researchers. And contradicted by some – most probably, two to reporters equalling all of the ETH to ETH directly sold. "

The cryptocurrency sector has experienced the bubble-crash-build-cycle five times in the past nine years. But, each year, the market saw a significant amount of work, resources, and capital as in support for the next wave of investors, developers, entrepreneurs, and projects.

Featured Image from Collision Conference / Flickr

Get Exclusive Crypto Analysis by Professional Traders and Investors on Hacked.com. Sign up now and get the first month for free. Click here.