Ethereum [ETH] is the Best Cryptocurrency Platform by Mass Adoption: DataLight Report

Ponvang Bulus Altcoin News PublishedJune 11, 2019 | ModifiedJune 11, 2019


Ethereum [ETH] is the Best Cryptocurrency Platform by Mass Adoption: DataLight Report

While Ethereum may appear to be a slow project in terms of platform development, the platform is actually better than those that appear to be making progress. The platform has been criticized for several reasons including its plans to migrate to a Proof-of-Stake Consensus mechanism. However, DataLight analysis of top smart contract and dapp deployment platforms shows Ethereum is actually the most popular by mass adoption for real use.

The king of platforms?

Ethereum currently has the highest number of tokens in its ecosystem by far. The number is at 1,193 based on DataLight data. The first runner up NEO has only 28 projects while Stellar and Wave have the third place with 24 projects each.  Surprisingly, Tron which is seemingly more popular has only 2, even less than EOS which has 8 projects. However, Tron’s recently created BitTorrent token (BTT) and that of Everipedia are the biggest tokens on the networks.

While Ethereum is the highest in terms of market capitalization among the platforms, they are closer to it compared to the ecosystem market cap. Ethereum has an ecosystem capitalization of $12.2 billion while Tron has $378 million and EOS has $26.9 million. Ethereum also supports notable cryptocurrencies. Most ERC-20 cryptocurrencies were initially built on the Ethereum blockchain, including Tron. Even as a network, Ethereum is a top performer far above Omnilayer, NEM, and Bitshares which cannot come close to it by market capitalization.

Also Read: EOS DApp Analysis Finds 75% Bot-Generated Transactions; Do Tron and Ethereum Practice the Same?

Future tendencies

Ethereum was the first platform dedicated to building and deployment of smart contracts and dapps before others like Tron came up, so it is hardly surprising that it is far ahead. However, the future may turn out to be different as Tron is a potentially formidable competitor. So far, it has overtaken Ethereum in a number of transactions and sometimes dapps. Could it be that Tron in a few years time may compete with Ethereum fiercely for the top spot?

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Ponvang Bulus 61 Articles
A cryptocurrency enthusiast, author, and investor with high motivation in cryptocurrency/blockchain research and writing. He loves birdwatching and traveling. Follow him on Twitter at @Ponvangbu