Over 90 Percent Of Top 100 Blockchain Projects Are Built On Ethereum
Not too long ago, Kevin Rooke, a crypto expert and a YouTuber released a research on Ethereum community. He summarized that there are already over 250,000 developers in the ecosystem with 94 out of the top 100 blockchain projects are built on top of the Ethereum network.
Which smart contract platform has…
The most developers: Ethereum
The most active nodes: Ethereum
The most top 100 tokens: Ethereum
The most unique addresses: Ethereum
The most influential advocates: Ethereum (@VitalikButerin and co)
It's not even close.
— Kevin Rooke (@kerooke) June 9, 2018
Ethereum ahead of the pack
Most of the cryptocurrencies that are not payment-focused are built on top of Ethereum protocol. Even TRON who has a market valuation of more than $3.5 billion is built on the ERC20 token standard of Ethereum. Although both of them are in the process of migrating to an independent blockchain.
Additionally, $2 billion China-based IoT blockchain network VeChain, $1 billion high-performance blockchain Ontology, $900 million South Korea-based ICON, and $850 million Sharding-focused blockchain project Zilliqa are a few examples of major blockchain projects that currently exist on the Ethereum network.
Recently, alternative blockchain protocols have emerged, with an aim to compete against Ethereum and evolve into the leading decentralized application platform. EOS, NEO, Cardano, Qtum, and ICON have gained significant market valuation and presence in the global market, with their focus set on decentralized applications.
Large capital is no longer sufficient to kickstart the process of creating a major blockchain project specifically for decentralized applications. Ethereum’s potential can only be demonstrated through successful Dapps and if developers leave the Ethereum protocol, regardless of its sophisticated architecture and technology, the Ethereum network will lose its value.
Rooke insists that Ethereum has already won the race to becoming leading smart contract platform, saying:
“How do you get developers when you don’t have anyone using your platform? How do you get using your platform when you don’t have developers who are going to build that underlying infrastructure to make it easy to launch applications? In some ways, money can kickstart the process but in crypto today, everyone has money, including Ethereum, so that cancels out the competitive advantage.”