The price of ether has decreased, but Ethereum is growing rapidly with the adoption of dApp


Martin Köppelmann, founder of the Ethereum predictive market platform based on

states that despite the decline in Ether's price, the Ethereum network is growing rapidly.

According to Köppelmann, the most important metric to be considered in the growth analysis of Ethereum is the performance of decentralized applications (dApps) and the interconnection of dApps on the blockchain.

Ethereum is Blooming

In an official blog post, Köppelmann said that the decline in the value of Ether from $ 1,500 to $ 300 is a non-issue as long as the open source developer and the dApp communities continue to show progress in downsizing, adopting and developing.

Köppelmann also noted that the price of Ether will follow the use of the protocol Ethereum and the dApps, and if the network effect of dApp is constantly increasing over the long term, the 39; Ether's price performance will reflect the rapid adoption rate of dApps. Köppelmann said,

"The numbers we are interested in are the use of decentralized applications and as a next step, the number to keep an eye on is DAPP that interact seamlessly with each other and benefit from Being on the same platform As a side effect, ultimately the price of Eth will therefore be a function of the demand for the use of applications in this reliable, open and interconnected environment. "

Previously, Köppelmann stressed that Ethereum needs to be evaluated based on the use of dApps, not its transaction volume or the number of active users. More importantly, he noted that the interconnection of dApps must improve so that the entire decentralized ecosystem can prosper.

For this to happen, dApps must rely on their services, protocols, and products to ensure that decentralized applications can operate in a purely peer-to-peer manner.

For example, projects such as Radar Relay, Paradex and Melonport are based on the decentralized exchange protocol of 0x to facilitate the trading of digital resources. Since the protocol 0x exists on Ethereum every operation facilitated by 0x is performed in a peer-to-peer manner and the dApp using the protocol 0x can form an interconnected ecosystem in which the dApps entrust the & # 39; one another to provide efficient services.

Going forward, mainly to give an example to other industries, Köppelmann said that Gnosis will use dApp only to conduct most of its operations forward, mainly to kick off the adoption of Ethereum and decentralized systems.

The Gnosis team has stated that it will use Twitter Peepeth for Tweets based on Ethereum Akasha to release blog posts, the prediction markets of Gnosis to monitor the milestones of the organization and Maker for finance its operations.

Related: Ethereum Creator praises decentralized Twitter Peepeth, but not all users are happy

Basically, Köppelmann has revealed that the project has sufficient funds to continue developing its project from six to seven years without having to use 200,000 aether in reserve, and most solvent projects that have raised capital through Ether in the last 12 months are in a similar situation.

Adoption of Kickstarting

week, Changpeng Zhao, the CEO of the world's largest cryptocurrency stock exchange, Binance, revealed that 90 percent of the company's employees opted to be paid into BNB, better known as Binance's coin, instead of fiat money or cash

ETHBerlin, the largest gathering Ethereum uses only dApps to facilitate all events operations, including ticketing, lotteries, hotel bookings for speakers and live streaming.

It is optimistic for the long-term health of Ethereum and the rest of the cryptocurrency sector that the first to adopt depend on alternative decentralization to process day-to-day operations.

Cover photo by Ravi Roshan on Unsplash

Disclaimer: The opinions of our writers are exclusively their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate approve any projects that may be mentioned or linked in this article. Buying and exchanging cryptocurrencies should be considered a high-risk activity. Please do your due diligence before taking any action related to the contents of this article. Finally, CryptoSlate assumes no responsibility in case of loss of money by trading cryptocurrencies.

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