El Salvador’s Bitcoin investment hits profits
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A new report declares that over 1,000 decentralized applications (dApps) and sheds light on other figures pertinent to the Ethereum network.
Earlier this week, the ‘ConsenSys Community Day’ was held at the Tel Aviv Stock Exchange in Israel in order to promote the development of Ethereum in the country.
One of the speakers at the conference was Christian Crowley, a business analyst for the Ethereum-focused firm Alethio. Crowley suggested that on an average day, there are 100,000 users that enter onto Ethereum’s platform for the first time. He also said that the cryptocurrency s network transacts to one million user requests daily and that there are currently 29.2 million unique Ethereum addresses.
Also speaking at the event was the executive director of ConsenSys, Vanessa Grellet, who touched on the concept of using blockchain technology for social impact. She posed the question: “What is not social impact when you’re working in the blockchain space?” She followed this up by answering with an example, using Holocaust survivors who are living in impoverished areas and argued that blockchain could offer an excellent means to assist this and other pressing social issues.
Despite the optimism, one still needs to consider whether new projects have a valuable lifespan. According to a report from the Chinese Academy of Information and Communications Technology (CAICT), only 8% of blockchain projects that have been launched are still alive, and most don’t live to see eighteen months.
That being said, blockchain technology is being widely accepted on a global scale, and there is constant news of mega-companies adopting the technology and developing teams around the innovation. In this case, one could hope for a delicate balance between a good quantity of quality – and sustainable – projects.
Since the hopeful report of figures was released, we have not seen a major increase in Ethereum’s price.
