Hello Everyone,
Another great day for crypto and the total market cap is breaking recording, currently on 121 BILLION US DOLLARS. If you think about it, it’s pretty crazy and not conventional for a rational market. If you remember around April 2017 the total market cap was 25 billion which means that we have around 500% growth. Together with all the hype, ICO boom and speculations I decided to dig into the actual activity on the different blockchains.
I woke up in the morning, sat in front of my computer with my morning coffee and decided to do a small research about the average number of transactions on the top 7 cryptos (Please note that I could not find any data on NEM and IOTA so I just skipped them). Now the logic behind my research is: If we think about the mass adoption of blockchains we need to take a look at the amount of activity in the network and at the end of the day this activity is mostly measured with transactions.
So I went and collected the data from the different blockchain explorers and calculated (manually :) ) the average number of transactions of the last 7 days per 60 seconds. These are the results I got:
To be honest with you, I was pretty stoked to find out the XRP is leading by far and currently, around 339 transactions are executed per minute which is 49% of the total transactions within these blockchains (Isn’t that surprising? ). In addition, Bitcoin holds only 19% of the total transactions with 135 transactions per minute and Ethereum passed it with 173 transactions per minute which are 25% of the total transactions. As you can see all other blockchains are relatively neglect-able.
Just to compare it with traditional use cases, VISA, is currently processing around 2000 transactions per SECOND - which leads to the conclusion that blockchains have a lot of potential growing up.
These numbers make you think ha?? I wonder how this chart will look like one year from now.
Please feel free to write any thoughts, questions or comments. Any feedback is welcome.
I wish you a great day!
