One of the biggest smart contract blockchain protocols across the globe is Ethereum and in this ever-growing digital world, it is growing at a fast rate.
As the co-creator of Ethereum and the founder of the blockchain software studio based in New York, ConsenSys, Joseph Lubin states:
“Blockchain is more than a market. It’s a movement. Market cap doesn’t reflect (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.”
The three major products of Ethereum are Infura, Truffle and MetaMask and they are the backbone of the infrastructure of the digital asset.
With Infura, it is a node infrastructure that processes requests on popular applications. Truffle is an Ethereum blockchain development framework which allows developers to build on blockchain products and MetaMask is perhaps one of the most used Ethereum and ERC20 wallet which runs on Infura.
Around a month ago, reports came out saying that the three blockchain tools had reached new heights as Infura surpassed ten billion requests, Truffle secured one million downloads and MetaMask launched a new mobile client.
Even though the consistent downtrend we have been seeing throughout 2018 - in which Ethereum lost over 90 percent of its value from its peak on 13th January - the user base of the blockchain protocol has surged quite significantly and the infrastructure supporting the ecosystem has strengthened quite noticeably.
As reported by CCN, the founder of ConsenSys asserted that the usage of Ethereum in developing countries such as the Philippines has begun to increase, with the Philippines connecting rural banks through a crypto cash payments system, an initiative led by one of the biggest banks in the country, Union Bank.
If you think that the Ethereum ecosystem has continued to see growth over the past year no matter what the performance of the bigger cryptocurrencies such as Bitcoin XRP and Litecoin are, Lubin is still bullish on the long-term growth that we will see from Ethereum saying:
“I believe in blockchain technology because of the people behind it. The developers, engineers, and technologists who build. The smart contract experts who audit and secure the code. The designers who care deeply about user experience. The marketers who tell the story of Web3.”
What are your thoughts? Are you bullish on Ethereum's growth? Let us know what you think down below!