Despite The Bear Market, Ethereum (ETH) Network’s Transactions Have Spiked Recently
Ethereum (ETH) Has Seen Transactions Spike in The Last 3 Weeks
Ethereum (ETH) may be the second largest crypto network by market cap, but it is far from being on the top of its glory. These days, it is said to be slow and unresponsive and companies seem to be migrating away from it. Many talk about the death of the Etherum network, the blockchain that was envisioned by Vitalik Buterin and once considered to be the future but it is the past.
However, are all these comments actually true? It seems like they might not be. According to new data which was only recently revealed by Etherscan.io, 6 from the 10 highest usage days in ETH history were in the last three weeks.
After a momentaneous downturn, it seems like the Ethereum network is finally being widely used again. Not since the time in which Ethereum was in its all-time highs the network was being so widely used as during these usage peaks.
Despite the data, some users still had their doubts. The Twitter user DK_Holdnaut, for instance, affirmed that he never saw anyone using an Ethereum app. According to him, if the network was really as good as it says and so decentralized and resistant to censorship, most people who “value these perks” would be using it.
This is his sole opinion only, though, as the information provided by Etherscan.io should be more valued than of some random people on social.
However, Ethereum is not seeing its golden age, this is certain. Despite being in a good or bad place right now, the company is seeing Tron and EOS just slightly behind trying to take its place. For instance, Tron has mined more blocks than Ethereum up until today despite ETH being much older.
Now that even Binance has created its own Binance Chain and it wants companies to migrate their tokens to it from the Ethereum blockchain, ETH is facing a difficult and decisive time. The network needs to improve in order to continue to be relevant in this new age with such strong competition.
Will Ethereum be able to maintain its place? The decisions of the developers and the community will be vital to decide and the progress of the projects, too.